TCR_Public/110103.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Monday, January 3, 2011, Vol. 15, No. 2

                            Headlines

96-98 SOUTH: Case Summary & 20 Largest Unsecured Creditors
ADAM COHEN: Case Summary & 21 Largest Unsecured Creditors
AEGIS DEVELOPMENT: Case Summary & 4 Largest Unsecured Creditors
ALMATIS B.V.: Court Enters Final Decree Closing Chapter 11 Cases
ALMATIS B.V.: Court Vacates Claims Trading Order

ALMATIS B.V.: Jr. Lenders Denied Plea for Access to Docs.
ALMATIS B.V.: Schultze & Braun's Final Fee Applications Approved
AMADEO SANCHEZ: Case Summary & 8 Largest Unsecured Creditors
AMBAC FINANCIAL: Gets Nod for Togut Segal as Conflicts Counsel
AMBAC FINANCIAL: Has Approval for Blackstone as Fin'l Advisor

AMBAC FINANCIAL: Committee Gets OK for Morrison as Counsel
AMBAC FINANCIAL: Committee Wins OK for Lazard as Fin'l Advisor
ANPATH GROUP: Files Form 15 as Stockholders Down to 250
ANTHONY DIAZ: Case Summary & 15 Largest Unsecured Creditors
APOLLO MEDICAL: Francis Named New CFO After DeWinter Retirement

ATLANTIC BROADCASTING: Organizational Meeting Set for Jan. 6
B&F MARINE: Files for Bankruptcy to Restructure $1.8 Mil. Debt
B&F MARINE: Case Summary & 11 Largest Unsecured Creditors
BANK OF FLORIDA: Reports $11.0MM Gain from Discontinued Operations
BAY THREE: Case Summary & 20 Largest Unsecured Creditors

BION ENVIRONMENTAL: Names William O'Neill as New Chief Executive
BLOCKBUSTER INC: BofA Wants Lift Stay for Park Bank Action
BLOCKBUSTER INC: Cohen, et al, Want to Certify Class in Ill. Suit
BORDERS GROUP: Delaying Payments to Publishers
BROADBAND EXPO: Case Summary & 5 Largest Unsecured Creditors

BROADCAST INT'L: Nets $13.5MM from Equity Sale, Restructures Debt
C&D TECHNOLOGIES: Angelo Gordon Reports 65.15% Equity Stake
CABI NEW RIVER: Case Summary & 9 Largest Unsecured Creditors
CABI SMA TOWER: Case Summary & 20 Largest Unsecured Creditors
CAPITAL GROWTH: PGC Seeks Control, Raises Equity Stake to 61.5%

CAPRIUS INC: Stockholders to Vote on Merger Proposal
CARLISLE APARTMENTS: Voluntary Chapter 11 Case Summary
CELL THERAPEUTICS: Sees $4.17-Mil. Net Loss for November
CELLU TISSUE: S&P Raises Corporate Credit Rating to 'BB'
CENTAUR LLC: Expects to Emerge from Bankruptcy Early This Year

CINEMARK HOLDINGS: S&P Gives Positive Outlook, Affirms 'B+' Rating
CIT GROUP: To Redeem $500 Million of Series A Notes
CLAIRE'S STORES: Bank Debt Trades at 8% Off in Secondary Market
CLST HOLDINGS: Board Okays Voluntary Termination of Registration
CRYOPORT INC: Files Form S-1 to Register Add'l 14-Mil. Shares

DAIS ANALYTIC: Leonard Samuels Discloses 27.66% Equity Stake
DARRYL EASON: Case Summary & 20 Largest Unsecured Creditors
DAVID BIRON: Voluntary Chapter 11 Case Summary
DAVID REAMER: Case Summary & 20 Largest Unsecured Creditors
DEX MEDIA WEST: Bank Debt Trades at 9% Off in Secondary Market

DIABETES AMERICA: Taps Healthcare Markets as Financial Advisor
DINO DEANGELIS: Case Summary & 15 Largest Unsecured Creditors
EMISPHERE TECH: MHR Entities Disclose 43.9% Equity Stake
ENERJEX RESOURCES: CEO & Chairman Resigns; Separation Deal Signed
FAULCONER PRODUCTIONS: Case Summary & Creditors List

GAMETECH INT'L: To Recognize $2.8MM Impairment for Corporate HQ
GARY PHILLIPS: Has Interim Access to Bank's Cash Collateral
GREAT ATLANTIC & PACIFIC: $350MM Loan Rises in Initial Trading
GREAT ATLANTIC & PACIFIC: Proposes Kirkland as Legal Counsel
GREAT ATLANTIC & PACIFIC: Proposes Huron as Financial Advisor

GREAT ATLANTIC & PACIFIC: Proposes Lazard as Investment Banker
GSI GROUP: 1 for 3 Reverse Stock Split Already Effective
GUITAR CENTER: Bank Debt Trades at 8% Off in Secondary Market
HALF MOON BAY: Warns of Budget Cuts as Insolvency Looms
HARRAH'S ENTERTAINMENT: HOC Bank Debt Trades at 104.95%

HAWKER BEECHCRAFT: Bank Debt Trades at 13% Off in Secondary Market
HCA INC: Bank Debt Trades at 1% Off in Secondary Market
HERBST GAMING: Bank Debt Trades at 40% Off in Secondary Market
HERCULES OFFSHORE: Bank Debt Trades at 7% Off in Secondary Market
HILL COUNTRY: Case Summary & 20 Largest Unsecured Creditors

HOVNANIAN ENTERPRISES: Plans to Issue $500,000,000 of Securities
HYSKY COMMS: District Court Rules Neighbors Law Firm Suit
HYTHIAM INC: Kelly McCrann Does Not Own Any Securities
INFOLOGIX INC: Hercules Technology Holds 76.5% Equity Stake
IRVINE SENSORS: J. Leon Owns 103,139 Shares of Common Stock

IRVINE SENSORS: Joll Balraj Does Not Own Any Securities
JENNIFER CONVERTIBLES: January 25 Hearing on Reorganization Plan
JONATHAN HANKS: Voluntary Chapter 11 Case Summary
JOSEPH MARTELLA: Case Summary & 13 Largest Unsecured Creditors
JULIAN DEATON: Case Summary & 11 Largest Unsecured Creditors

K-V PHARMACEUTICAL: Going Concern Doubt Raised; Posts $283MM Loss
KARL STOMBERG: Voluntary Chapter 11 Case Summary
KMS II: Case Summary & 16 Largest Unsecured Creditors
LABOPHARM INC: Receives Minimum Bid Price Requirement Notice
LDK SOLAR: Reaches 3 Gigawatt Milestone at Wafer Plants

LIONS GATE: Frank Giustra Owns 12,500 Common Shares
LOGIC DEVICES: Recurring Losses Prompt Going Concern Doubt
LOUISVILLE ORCHESTRA: Musicians Want Ch. 11 Case Dismissed
LTAP US: Wells Fargo Seeks Relief From Bankruptcy Shield

MARIA JUNKOVIC: Section 341(a) Meeting Scheduled for Feb. 2
MICHAEL DECKER: Case Summary & 11 Largest Unsecured Creditors
MICHAEL MACALUSO: Voluntary Chapter 11 Case Summary
MIKE SACKETT: Case Summary & 20 Largest Unsecured Creditors
MS EASTCHESTER: Case Summary & 14 Largest Unsecured Creditors

NAKNEK ELECTRIC: Can Access $300,200 of RUS Cash Collateral
NAKNEK ELECTRIC: Committee of Equity Security Holders Appointed
NAKNEK ELECTRIC: Files Schedules of Assets and Liabilities
NAKNEK ELECTRIC: U.S. Trustee Forms 7-Member Creditors' Committee
NCO GROUP: S&P Junks Counterparty Credit Rating From 'B-'

NEXSTAR BROADCASTING: T. Yosef-Or Does Not Own Any Securities
NRZ INC: Voluntary Chapter 11 Case Summary
NYC OFF-TRACK: Health Insurance Temporarily Reinstated
OMNIRELIANT HOLDINGS: Inks Plan of Merger With Infusion Brands
OSCEOLA TRACE: Case Summary & 11 Largest Unsecured Creditors

OWENS CORNING: Asbestos Trust Withdraws Request to Reopen Cases
OWENS CORNING: Garlock Objects to Preliminary Injunction Request
OWENS CORNING: James Williams Seeks Claims Payment
OVERLAND STORAGE: Gets $3MM for Sale of Int. in Litigation Award
PACIFIC ETHANOL: Gets 180-Day Extension by NASDAQ

PCS EDVENTURES: Reaches Settlement with Navigators Insurance
POINT BLANK: Wins Final Approval for $25 Million in Financing
PETERKIN & ASSOCIATES: Case Summary & 21 Largest Unsec Creditors
PHILADELPHIA RITTENHOUSE: Files for Chapter 11 Protection
PHILADELPHIA RITTENHOUSE: Voluntary Chapter 11 Case Summary

POPULAR INC: Moody's Upgrades Preferred Stock Rating to 'B2'
PRIUM LAKEWOOD: Has Access to Lender's Cash Coll. Until March 17
PROTECTIVE PRODUCTS: Plan Confirmation Hearing Set for March 1
R & S VENTURES: Case Summary & Largest Unsecured Creditor
RANCHO MALIBU: Has Until March 3 to Propose Chapter 11 Plan

ROPER BROTHERS: Plan of Liquidation Wins Court Approval
ROTHSTEIN ROSENFELDT: Prosecutors, Trustees Fight for Dominance
ROYAL HOTEL: Case Summary & 20 Largest Unsecured Creditors
SENSORCOM INC: Case Summary & 20 Largest Unsecured Creditors
SEXY HAIR: Files Schedules of Assets & Liabilities

SEXY HAIR: Section 341(a) Meeting Scheduled for Jan. 25
SEXY HAIR: Plans to Complete Sale in Chapter 11
SNOQUALMIE ENTERTAINMENT: Moody's Raises Corp. Rating to 'Caa1'
STATION CASINOS: Proposes to Transfer All Accounts to Wells Fargo
STATION CASINOS: Agrees to Pay Fees & Expenses of Notes Trustees

STATION CASINOS: Snell & Wilmer Withdraws as GCR Counsel
STILLWATER MINING: S&P Raises Issue-Level Rating to 'B+'
STRAWBERRY PARK: Preston Strawberry Wants Ch. 11 Case Dismissed
STROBER REAL ESTATE: Case Summary & 5 Largest Unsecured Creditors
SUNSHINE HOSPITALITY: Case Summary & 20 Largest Unsec Creditors

SUPERMEDIA INC: S&P Raises Corporate Credit Rating to 'B-'
TALON THERAPEUTICS: Amends 2010 Equity Incentive Plan
TAMARACK RESORT: Credit Suisse Finds Fault Ski Resort Sale
TELECONNECT INC: Recurring Losses Prompt Going Concern Doubt
TERI FREITAS: Voluntary Chapter 11 Case Summary

TERRESTAR NETWORKS: Files Final Versions of Plan & Disc. Statement
TERRESTAR NETWORKS: Committee Files Motion on Confidential Info.
TERRESTAR NETWORKS: Objects to Sprint Nextel's Claims
TERRESTAR NETWORKS: Wins Approval for Blackstone as Fin'l Advisor
TERRESTAR NETWORKS: Committee Proposes Sheppard as FCC Cousnel

TERRESTAR NETWORKS: Committee Proposes Cassels as Canadian Counsel
TIB FINANCIAL: Gets Noncompliance Letter From NASDAQ Stock Market
TOM JUNKOVIC: Section 341(a) Meeting Scheduled for Feb. 2
TOTAL SAFETY: S&P Raises Rating on First-Lien Credit Loan to 'B'
TOUSA INC: U.S. Trustee Objects to Creditors' Disclosure Statement

TOWNSENDS INC: Taps SSG Capital as Investment Banker
TRIBUNE CO: Bank Debt Trades at 32% Off in Secondary Market
TSS CONSTRUCTION: Voluntary Chapter 11 Case Summary
TWIN LAKES: Case Summary & 11 Largest Unsecured Creditors
TWIN LAKES: Case Summary & 20 Largest Unsecured Creditors

UNI-PIXEL INC: Osmium Special Discloses 7.15% Equity Stake
UNITED CONTINENTAL: To Reduce Capacity, Says Analyst
UNITED CONTINENTAL: Seeks Runways Construction Delay at O'Hare
UNITED CONTINENTAL: Pilots to Ask Mediation on Outsourcing Dispute
UNITED CONTINENTAL: Uses Mobile Computers to Cut Down Long Lines

US FOODSERVICE: Bank Debt Trades at 9% Off in Secondary Market
WILLIAM MERCUR: Case Summary & 20 Largest Unsecured Creditors
VENTO FAMILY: Issues With Banks Prompted Bankruptcy Filing
WANNADO CITY THEME PARK: Stampler Auctions to Liquidate Firm
WASHINGTON MUTUAL: Settlement Termination Deadline Extended

WESTINGHOUSE SOLAR: Receives Delisting Notification
WILLIAM MORRISON: Case Summary & 20 Largest Unsecured Creditors
W.R. GRACE: BNSF & Libby Claimants Object to CNA Settlement
W.R. GRACE: Buys West Chester, Ohio-Based Technology Company

* After Two Years, Bankruptcy Boom Set to Fade in 2011
* Level of Bank Failures Worst Since 1992, FDIC Says
* Rising Returns Lift Leveraged Loans Outlook for Coming Year

* Strategic Value Partners Strategy Set on Driving Restructurings

* President Obama Approves Technical Changes to Bankruptcy Code

* BOND PRICING -- For Week From Dec. 27 to 31, 2010

                            *********

96-98 SOUTH: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: 96-98 South 10th Street, LLC
        180 Ferry Street
        Newark, NJ 07105

Bankruptcy Case No.: 10-49676

Chapter 11 Petition Date: December 24, 2010

Court: United States Bankruptcy Court
       District of New Jersey (Newark)

Judge: Morris Stern

Debtor's Counsel: Diego P. Milara, Esq.
                  MARMOLEJO & MILARA, PC
                  107 Harrison Avenue
                  Harrison, NJ 07029
                  Tel: (973) 483-1111
                  Fax: (973) 483-1161
                  E-mail: mmlaww@cs.com

Scheduled Assets: $500,600

Scheduled Debts: $2,813,883

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/njb10-49676.pdf

The petition was signed by Frank Martins, managing member.


ADAM COHEN: Case Summary & 21 Largest Unsecured Creditors
---------------------------------------------------------
Joint Debtors: Adam Cohen
               Jennifer Sultan
               5 East 17th Street, Unit #8
               New York, NY 10003

Bankruptcy Case No.: 10-16732

Chapter 11 Petition Date: December 22, 2010

Court: United States Bankruptcy Court
       Southern District of New York (Manhattan)

Judge: Shelley C. Chapman

Debtor's Counsel: Gabriel Katzner, Esq.
                  KATZNER LAW GROUP, P.C.
                  1040 Avenue of the Americas, Suite 1101
                  New York, NY 10018
                  Tel: (646) 736-7539
                  Fax: (718) 701-5927
                  E-mail: GKatzner@yahoo.com

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

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

The petition was signed by the Joint Debtors.

Debtor's List of 21 Largest Unsecured Creditors:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Internal Revenue          2006: Personal         $60,000
Service                   Tax Obligations
PO Box 7346
Philadelphia, PA
19101

New York State            2006: Personal         $45,000
Department Of             Tax Obligations
Taxation
Attn: Office of
Counsel
Building 9, W.A.
Harriman Campus
Albany, NY 12227

Bank of America           Credit Line            $32,000
PO Box 2463
Spokane, WA
99210

Citibank                  Credit card            $27,500

Chase                     Credit card            $26,100

Charles Schwab/Visa       Credit card            $24,275

American Express          Credit card            $15,450
(Platinum)

Discover                  Credit card            $11,550

Visa                      Credit card            $10,000

American Express          Credit card            $8,500
(Centurion)

Con Edison                Utility bill           $8,000

Bank of America           Credit card            $6,250
Visa

American Express (Blue)   Credit card            $4,875

Verizon Home Phone        Telephone bills        $4,000

Citibank                  Overdraft              $2,550

Verizon Wireless          Telephone bills        $2,000

American Express          Credit card            $1,200
(Open Business)

Moishe's Storage          Storage Fees           $900

Barneys NY                Credit card            $575

Poland Spring             Water Bills            $500

Time Warner Cable         Cable Bills            $500


AEGIS DEVELOPMENT: Case Summary & 4 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Aegis Development, LLC
        P.O. Box 1407
        Arden, NC 28704

Bankruptcy Case No.: 10-11457

Chapter 11 Petition Date: December 23, 2010

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

Judge: George R. Hodges

Debtor's Counsel: D. Rodney Kight, Jr., Esq.
                  KIGHT LAW OFFICE PC
                  7 Orchard Street, Suite 100
                  Asheville, NC 28801
                  Tel: (828) 255-9881
                  Fax: (828) 255-9886
                  E-mail: info@kightlaw.com

Scheduled Assets: $1,700,000

Scheduled Debts: $1,427,487

A list of the Company's four largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/ncwb10-11457.pdf

The petition was signed by Elton Steins, managing member.


ALMATIS B.V.: Court Enters Final Decree Closing Chapter 11 Cases
----------------------------------------------------------------
Almatis B.V. sought and obtained from Judge Martin Glenn of the
U.S. Bankruptcy Court for the Southern District of New York a
final decree closing its Chapter 11 case and those of its 12
reorganized debtor affiliates.

The Closed Chapter 11 cases are:

   Almatis B.V.                                10-12308
   DIC Almatis Holdco B.V.                     10-12309
   DIC Almatis Midco B.V.                      10-12310
   DIC Almatis Bidco B.V.                      10-12311
   Almatis Holdings 3 B.V.                     10-12312
   Almatis Holdings 9 B.V.                     10-12313
   Blitz F07-neunhundert-sechzig-drei GmbH     10-12314
   Almatis Holdings GmbH                       10-12315
   Almatis GmbH                                10-12316
   Almatis Holdings 7 B.V.                     10-12317
   Almatis US Holding, Inc.                    10-12318
   Almatis, Inc.                               10-12319
   Almatis Asset Holdings, LLC                 10-12320

Section 350(a) of the Bankruptcy Code provides that "[a]fter an
estate is fully administered and the court has discharged the
trustee, the court shall close the case."

Counsel to the Reorganized Debtors, Michael Rosenthal, Esq., at
Gibson Dunn & Crutcher LLP, in New York, maintained that the
Chapter 11 cases of the Reorganized Debtors have been fully
administered within the meaning of Section 350.  He specifically
noted that:

  -- The Court's order confirming the Reorganized Debtors'
     restructuring plan is final and non-appealable.  The Plan
     Confirmation Order was entered on September 20, 2010, and
     the Plan was declared effective on September 30, 2010;

  -- All property required to be transferred by the Reorganized
     Debtors' Amended Plan has been transferred;

  -- Virtually all distributions have been made as required by
     the Amended Plan;

  -- The Reorganized Debtors have assumed the management of the
     business and the property dealt with by the Amended Plan;
     and

  -- No adversary proceedings, motions or contested matters are
     pending in the Reorganized Debtors' Chapter 11 cases.

The Reorganized Debtors add that they have paid all fees that are
currently owed to the United States Trustee pursuant Section 1930
of the Judiciary and Judicial Procedures Code, but an additional
fee will be due to the U.S. Trustee on January 31, 2011, with
respect to disbursements made during the fourth quarter of 2010.
The Reorganized Debtors estimate that the amount of the fee will
be approximately $99,750 and have mailed a check to the Office of
the U.S. Trustee in that amount.  The Reorganized Debtors assure
the Court that once the actual amount of the fee is determined,
they will pay any additional amounts owed on or before the
January 2011 due date.

The entry of the Final Decree is without prejudice to the rights
of the Reorganized Debtors or any other party-in-interest to seek
to reopen the cases for good cause shown, Judge Glenn clarified.

Moreover, the Bankruptcy Court retains jurisdiction to enforce or
interpret its own orders pertaining to the Chapter 11 cases and
over the Reorganized Debtors for purposes set forth in the
Amended Plan.

The Bankruptcy Court also retains jurisdiction over any pending
matter in the Reorganized Debtors' cases as of December 28, 2010.

In connection with the closing of these Chapter 11 cases, the
Court also ordered the termination of Epiq Bankruptcy Solutions
LLC's appointment as the Reorganized Debtors' claims and noticing
agent.

                       About Almatis Group

Almatis B.V., operationally headquartered in Frankfurt, Germany,
is a global leader in the development, manufacture and supply of
premium specialty alumina products.  With nearly 900 employees
worldwide, the company's products are used in a wide variety of
industries, including steel production, cement production, non-
ferrous metal production, plastics, paper, ceramics, carpet
manufacturing and electronic industries.  Almatis operates nine
production facilities worldwide and serves customers around the
world.  Until 2004, the business was known as the chemical
business of Alcoa.  Almatis is now owned by Dubai International
Capital LLC, the international investment arm of Dubai Holding.

Almatis B.V., and its affiliates filed for Chapter 11 on April 30,
2010 (Bankr. S.D.N.Y. Lead Case No. 10-12308).  Almatis B.V.
estimated assets of US$500 million to US$1 billion and debts of
more than US$1 billion in its petition.

Michael A. Rosenthal, Esq., at Gibson, Dunn & Crutcher LLP, serves
as counsel to the Debtors in the Chapter 11 cases.  Linklaters LLP
is the special English and German counsel and De Brauw Blackstone
Westbroek N.V. is Dutch counsel.  Epiq Bankruptcy Solutions, LLC,
serves as claims and notice agent.

The Debtors' reorganization plan was declared effective on
September 30, 2010, allowing the Debtors to fully complete their
financial restructuring and emerge from Chapter 11 protection.
The Almatis restructuring plan took effect more than a week after
it was confirmed by Bankruptcy Judge Martin Glenn for the
Southern District of New York.


ALMATIS B.V.: Court Vacates Claims Trading Order
------------------------------------------------
Almatis B.V. sought and obtained a final decree from the U.S.
Bankruptcy Court for the Southern District of New York vacating
its prior orders limiting the transfer of claims against the
company and its debtor affiliates.

The Bankruptcy Court previously entered interim and final orders,
which required a "notice and waiting period" governing any
transfer of claims against the Reorganized Debtors to foreign
transferees.

The Claims Trading Order allowed the Reorganized Debtors to seek
relief from the Bankruptcy Court to protect their estate in case
a transfer to a foreign entity without minimum contacts within
the U.S. was contemplated.  This was necessary because of
possibility that a foreign transferee might consider itself to be
beyond the jurisdiction of the Bankruptcy Court, disregard the
automatic stay, and bring legal actions to enforce a claim in a
foreign jurisdiction.

Michael Rosenthal, Esq., at Gibson Dunn & Crutcher LLP, in New
York, said the procedural protection provided by the prior Court
orders is no longer necessary after the Debtors' restructuring
plan took effect and the Debtors' pre-bankruptcy liabilities had
been restructured.

Mr. Rosenthal added that any issue that may arise can be dealt
with in the appropriate forum without triggering an involuntary
liquidation of the foreign operations of the Reorganized Debtors.

                       About Almatis Group

Almatis B.V., operationally headquartered in Frankfurt, Germany,
is a global leader in the development, manufacture and supply of
premium specialty alumina products.  With nearly 900 employees
worldwide, the company's products are used in a wide variety of
industries, including steel production, cement production, non-
ferrous metal production, plastics, paper, ceramics, carpet
manufacturing and electronic industries.  Almatis operates nine
production facilities worldwide and serves customers around the
world.  Until 2004, the business was known as the chemical
business of Alcoa.  Almatis is now owned by Dubai International
Capital LLC, the international investment arm of Dubai Holding.

Almatis B.V., and its affiliates filed for Chapter 11 on April 30,
2010 (Bankr. S.D.N.Y. Lead Case No. 10-12308).  Almatis B.V.
estimated assets of US$500 million to US$1 billion and debts of
more than US$1 billion in its petition.

Michael A. Rosenthal, Esq., at Gibson, Dunn & Crutcher LLP, serves
as counsel to the Debtors in the Chapter 11 cases.  Linklaters LLP
is the special English and German counsel and De Brauw Blackstone
Westbroek N.V. is Dutch counsel.  Epiq Bankruptcy Solutions, LLC,
serves as claims and notice agent.

The Debtors' reorganization plan was declared effective on
September 30, 2010, allowing the Debtors to fully complete their
financial restructuring and emerge from Chapter 11 protection.
The Almatis restructuring plan took effect more than a week after
it was confirmed by Bankruptcy Judge Martin Glenn for the
Southern District of New York.


ALMATIS B.V.: Jr. Lenders Denied Plea for Access to Docs.
---------------------------------------------------------
Judge Martin Glenn denied a motion by a group of junior lenders
led by Jubilee CDO VIII B.V. to allow the group's legal counsel to
access certain documents that were produced to Schulte Roth &
Zabel.

The group earlier asked the Court to allow its legal counsel,
Herrick Feinstein LLP, to access the documents after Almatis B.V.
and Oaktree Capital Management Ltd. refused to have them reviewed
by the firm.

The sharing of the documents is reportedly governed by a
stipulation entered into by Almatis, Oaktree and Dubai
International Capital LLC to protect confidential information.
Schulte Roth, as co-counsel to the junior lenders, was previously
granted access to the documents.

In an 11-page opinion, Judge Glenn said the motion is "purposely
vague" in describing the reasons for seeking access to the
documents and that the junior lenders' request is not relevant to
any matter currently pending before the Court.

"The Debtors' reorganization plan has been confirmed and became
effective on September 30, 2010, and all distributions under the
plan have been made," Judge Glenn said, adding that the documents
are no longer relevant to any issues involved in the
administration of the Chapter 11 cases.

Judge Glenn also pointed out that the junior lenders did not file
an adversary proceeding and that there is no pending contested
matter in which discovery may be taken.

Judge Glenn further said that the statement made earlier by the
junior lenders is far from accurate, pointing out that no matter
how broad the discovery they sought, the stipulation controls the
treatment of confidential materials.  The Court notes that it
seems group wants access to the documents to prepare litigation
claims for a separate lawsuit.

The group argued in its statement that the documents at issue are
relevant.  It asserted that the discovery requests which resulted
in the production of confidential materials were broad and not
simply limited to the prepackaged restructuring plan or the
valuation of Almatis.

The group issued the statement in response to objections asserted
by Almatis and Oaktree.

Almatis opposed the approval of the motion on grounds that the
stipulation allows the use of documents only in connection with
the company's bankruptcy case and related proceedings.  For its
part, Oaktree Capital argued that the documents sought by the
junior lenders are no longer relevant and were produced in
connection with a prepackaged restructuring plan, which was
withdrawn after Almatis accepted a better proposal from DIC.

                       About Almatis Group

Almatis B.V., operationally headquartered in Frankfurt, Germany,
is a global leader in the development, manufacture and supply of
premium specialty alumina products.  With nearly 900 employees
worldwide, the company's products are used in a wide variety of
industries, including steel production, cement production, non-
ferrous metal production, plastics, paper, ceramics, carpet
manufacturing and electronic industries.  Almatis operates nine
production facilities worldwide and serves customers around the
world.  Until 2004, the business was known as the chemical
business of Alcoa.  Almatis is now owned by Dubai International
Capital LLC, the international investment arm of Dubai Holding.

Almatis B.V., and its affiliates filed for Chapter 11 on April 30,
2010 (Bankr. S.D.N.Y. Lead Case No. 10-12308).  Almatis B.V.
estimated assets of US$500 million to US$1 billion and debts of
more than US$1 billion in its petition.

Michael A. Rosenthal, Esq., at Gibson, Dunn & Crutcher LLP, serves
as counsel to the Debtors in the Chapter 11 cases.  Linklaters LLP
is the special English and German counsel and De Brauw Blackstone
Westbroek N.V. is Dutch counsel.  Epiq Bankruptcy Solutions, LLC,
serves as claims and notice agent.

The Debtors' reorganization plan was declared effective on
September 30, 2010, allowing the Debtors to fully complete their
financial restructuring and emerge from Chapter 11 protection.
The Almatis restructuring plan took effect more than a week after
it was confirmed by Bankruptcy Judge Martin Glenn for the
Southern District of New York.


ALMATIS B.V.: Schultze & Braun's Final Fee Applications Approved
----------------------------------------------------------------
U.S. Bankruptcy Judge Martin Glenn approved the applications of
Schultze & Braun Rechtsanwaltsgesellschaft and Schultze & Braun
Rechtsanwaltsgesellschaft Wirtschaftsprfungsgesellschaft for
the allowance of final fees and reimbursement of expenses incurred
for the period April 30 to September 20, 2010:

                                    Allowed     Allowed
Applicant                          Fees       Expenses
----------                       ----------   ---------
Schultze & Braun Gmbh            EUR102,520        N/A
Rechtsanwaltsgesellschaft       (US$133,994)

Schultze & Braun Gmbh            EUR365,071     EUR858
Rechtsanwaltsgesellschaft       (US$477,148)     ($1,122)
Wirtschaftsprfungsgesellschaft

The fees allowed for the final compensation of Schultze & Braun
GmbH RW include applicable value-added tax of EUR63,294.  The
fees of S&B Rechtsanwaltsgesellschaft include applicable value-
added tax of EUR16,514.

In a declaration filed with the Court, Jens Weber, a partner at
Schultze & Braun GmbH RW, said the firm made "reasonable efforts"
to minimize its disbursements and that the expenses incurred was
"necessary, reasonable and justified" to serve the needs of the
Debtors, their estates and creditors.

Christoph Alexander von Wilcken, Esq., of S&B
Rechtsanwaltsgesellschaft also filed a declaration in support of
the firm's final fee application.

                       About Almatis Group

Almatis B.V., operationally headquartered in Frankfurt, Germany,
is a global leader in the development, manufacture and supply of
premium specialty alumina products.  With nearly 900 employees
worldwide, the company's products are used in a wide variety of
industries, including steel production, cement production, non-
ferrous metal production, plastics, paper, ceramics, carpet
manufacturing and electronic industries.  Almatis operates nine
production facilities worldwide and serves customers around the
world.  Until 2004, the business was known as the chemical
business of Alcoa.  Almatis is now owned by Dubai International
Capital LLC, the international investment arm of Dubai Holding.

Almatis B.V., and its affiliates filed for Chapter 11 on April 30,
2010 (Bankr. S.D.N.Y. Lead Case No. 10-12308).  Almatis B.V.
estimated assets of US$500 million to US$1 billion and debts of
more than US$1 billion in its petition.

Michael A. Rosenthal, Esq., at Gibson, Dunn & Crutcher LLP, serves
as counsel to the Debtors in the Chapter 11 cases.  Linklaters LLP
is the special English and German counsel and De Brauw Blackstone
Westbroek N.V. is Dutch counsel.  Epiq Bankruptcy Solutions, LLC,
serves as claims and notice agent.

The Debtors' reorganization plan was declared effective on
September 30, 2010, allowing the Debtors to fully complete their
financial restructuring and emerge from Chapter 11 protection.
The Almatis restructuring plan took effect more than a week after
it was confirmed by Bankruptcy Judge Martin Glenn for the
Southern District of New York.


AMADEO SANCHEZ: Case Summary & 8 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Amadeo G. Sanchez
        426 Castlehill Drive
        Walnut, CA 91789

Bankruptcy Case No.: 10-64442

Chapter 11 Petition Date: December 22, 2010

Court: United States Bankruptcy Court
       Central District Of California (Los Angeles)

Judge: Barry Russell

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

Scheduled Assets: $2,314,500

Scheduled Debts: $2,500,906

A list of the Debtor's eight largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-64442.pdf


AMBAC FINANCIAL: Gets Nod for Togut Segal as Conflicts Counsel
--------------------------------------------------------------
Ambac Financial Group, Inc., sought and obtained the Bankruptcy
Court's permission to employ Togut, Segal & Segal LLP as its
conflicts counsel.

As the Debtor's conflicts counsel, Togut Segal will:

  (a) advise the Debtor, where Dewey & LeBoeuf LLP is or may be
      conflicted, regarding its powers and duties as a Debtor-
      in-possession in the continued management of its
      businesses and properties;

  (b) attend meetings and negotiate with representatives of
      creditors and other parties-in-interest;

  (c) take necessary action to protect and preserve the Debtor's
      estate, including prosecuting actions on the Debtor's
      behalf, defending any action commenced against and
      representing the Debtor's interests in negotiations
      concerning litigation, including, but not limited to,
      objections to claims filed against the Debtor's estate;

  (d) prepare on the Debtor's behalf motions, applications,
      adversary proceedings, answers, orders, reports and papers
      necessary to the administration of the Debtor's estate;

  (e) appear before the Court and any appellate courts and
      protect the interests of the Debtor's estate before those
      Courts; and

  (f) perform other necessary legal services and provide other
      necessary legal advice to the Debtor in connection with
      the Debtor's Chapter 11 case.

Togut Segal will also perform the duties of counsel to the Debtor
on matters which may arise where Dewey & LeBoeuf cannot perform
those services and while certain aspects of the representation
will necessarily involve Togut Segal and Dewey & LeBoeuf, the
services that Togut Segal will provide will be complementary
rather than duplicative of the services to be performed by such
lead bankruptcy counsel.

The Debtor will pay Togut Segal's professionals according to the
firm's customary hourly rates:

        Title                        Rate per Hour
        -----                        -------------
        Partners                      $800 to $935
        Associates and counsel        $180 to $720
        Paralegals and law clerks     $145 to $285

The Debtors will also reimburse Togut Segal for actual and
necessary expenses incurred.

Albert Togut, Esq., a senior member of Togut Segal, discloses
that on December 2, 2010, his firm was retained as conflicts
counsel for the debtors in the Chapter 11 case of GSC Group, Inc.
Togut Segal has been advised that Ambac Assurance Corporation, a
subsidiary of the Debtor, or one of its affiliates or
subsidiaries may have provided insurance for certain assets
subject to the GSC investment management and advisory services,
he relates.  He assures the Court that Togut Segal will not
represent GSC in any matters concerning the Debtor nor will the
firm represent the Debtor in any matter concerning GSC.  Dewey &
LeBoeuf will handle all matters concerning GSC that involve the
Debtor, he adds.

Mr. Togut maintains that Togut Segal is a "disinterested person"
as that term is defined under Section 101(14) of the Bankruptcy
Code.

                       Committee Objected

The Official Committee of Unsecured Creditors filed an objection
to the Application, asserting that the relief requested in Ambac
Financial Group, Inc.'s Application is too broad and goes well
beyond seeking to retain Togut, Segal & Segal LLP in the event
that Dewey & LeBoeuf LLP has a conflict of interest.

Anthony Princi, Esq., at Morrison & Foerster LLP, in New York,
counsel to the Committee, contended that Togut's scope of
services pursuant to the Debtor's Application grants much more
authority to Togut than is necessary for a firm serving as
conflicts counsel.  Indeed, a comparison of the scope of services
in each of Togut's and Dewey's employment applications revealed
that except for the preparation of a disclosure statement and
plan of reorganization set forth in Dewey's application, the
proposed scope of services that can be performed by both firms is
virtually identical, Mr. Princi pointed out. He also argued that
the Debtor's describing Togut's employment as cost-saving is
illusory because Togut's billing rates are competitive with
Dewey's.

Against this backdrop, the Committee filed with the Court a
proposed order to the Debtor's Application that provides, among
other things, that the Debtor will give written notice to the
Committee when a conflict that requires the use of Togut's
services is identified and that Togut will not perform any work
for the Debtor until that time.  The Committee thus asks the
Court to enter the Committee Proposed Order, a copy of which is
available for free at:

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

The Court's order provides that Judge Shelley C. Chapman approved
the Debtor's Application to hire Togut Segal based on the unique
and complex circumstances of the Chapter 11 case and will not be
cited as a precedent for other cases.

Before Togut's filing of an initial pleading naming Ambac
Assurance Corporation or any other conflict party as an adverse
party, or communicating with any other party or the Debtor's
personnel for the first time about any matter with respect to
which the Debtor may be adverse to that party, the Debtor will
notify counsel for the Committee, on a confidential basis, that
the Debtor has asked Togut to file the pleading or have that
communication.  Togut may also discuss any matters with Dewey &
LeBoeuf and the Debtor's general counsel and staff without having
to first so notify counsel for the Committee.

Nothing in the Court's order creates a duty of the Debtor to
advise counsel for the Committee that Dewey & LeBoeuf or the
Debtor's general counsel has discussed or will discuss any issue
with Togut, Judge Chapman clarified.

In addition to the Conflict Parties, as soon as any matter in the
Debtor's Chapter 11 case creates a conflict of interest for
counsel with respect to any client of Dewey & LeBoeuf not
previously disclosed or the Debtor's other counsel, the Debtor
will notify Togut to take over that matter, subject to any duty
to notify counsel to the Committee set forth in the Order, Judge
Chapman stated.

                       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: Has Approval for Blackstone as Fin'l Advisor
-------------------------------------------------------------
Ambac Financial Group, Inc., received the Bankruptcy Court's
permission to employ Blackstone Advisory Partners L.P. as its
financial advisor, nunc pro tunc to the Petition Date.

As the Debtor's financial advisor, Blackstone will:

  (a) assist in the development of financial models, cash flow
      projections and liquidity needs of the Debtor and its
      primary subsidiary Ambac Assurance Corporation;

  (b) assist in the development of financial data and
      presentations to the Debtor's board of directors, various
      creditors and other third parties;

  (c) analyze various restructuring scenarios and the potential
      impact of these scenarios on the recoveries of those
      stakeholders;

  (d) provide strategic advice with regard to restructuring or
      refinancing the Debtor's obligations;

  (e) evaluate the Debtor's debt capacity and alternative
      capital structures;

  (f) participate in negotiations among the Debtor and its
      creditors and other interested parties;

  (g) value securities offered by the Debtor in connection with
      restructuring of its obligations;

  (h) provide expert witness testimony concerning any of the
      financial advisory services provided by Blackstone;

  (i) provide general advice on asset sale alternatives; and

  (j) provide other advisory services as are customarily
      provided in connection with the analysis and negotiation
      of a Chapter 11 case as requested and mutually agreed.

The Debtor has agreed to pay Blackstone in accordance with this
fee structure:

  1. A monthly advisory fee of $250,000, payable in cash on the
     eighth day of each month following the Petition Date.

  2. An additional fee equal to $8,000,000 payable upon
     consummation of a restructuring.  A restructuring will be
     deemed to have been consummated upon the execution,
     confirmation and consummation of a Plan of Reorganization
     pursuant to an order of the Court or the sale of all or
     substantially all of the Company or its assets.

  3. Reimbursement of all reasonable out-of-pocket expenses
     incurred during the engagement.  The Debtor will pay
     Blackstone on the Petition Date and maintain thereafter a
     $25,000 expense advance for which Blackstone will account
     upon termination of the engagement.

From June 2009 through November 2010, the Debtor, either directly
or indirectly through a subsidiary, paid to Blackstone about
$1,517,3212 in fees and expenses as compensation for prepetition
professional services including those relating to a potential
capital raise for the Debtor, the potential restructuring of the
Debtor's debt capital structure, and the potential commencement
of the Debtor's Chapter 11 case.

Robert J. Gentile, vice president in the compliance department of
Blackstone, discloses that his firm has been engaged by certain
parties-in-interest in the Debtor's Chapter 11 case in matters
unrelated to the bankruptcy case.  Among other things, he reveals
that:

  * Affiliates of Blackstone serve as general partners for and
    manage a number of private investment funds, of which the
    investors are primarily hundreds of unrelated third parties;

  * Some of the financial institutions that are parties-in-
    interest and certain other parties-in-interest may have co-
    invested with Blackstone Funds or may have extended credit
    or provided investment banking services to Blackstone, the
    Blackstone Funds or companies owned by the Blackstone Funds;

  * Blackstone may enter into confidentiality agreements with
    certain parties-in-interest;

  * Blackstone is engaged to provide advisory services to five
    parties-in-matters in matters unrelated to the Debtor or
    its Chapter 11 case.  Three of those parties are American
    International Group, Bank of Scotland, and Deutsche Bank.
    The other parties' names have been withheld due to
    confidentiality agreements;

  * Blackstone has been engaged to provide financial advisory
    services by Davis Polk & Wardwell LLP, as counsel to
    JPMorgan Chase Bank, N.A.;

  * Blackstone has been engaged to provide financial advisory
    services by Kirkland & Ellis LLP, as counsel to the ad hoc
    committee of secured lenders in Capmark Financial Group
    Inc.'s bankruptcy case;

  * Blackstone has been engaged to provide advisory services by
    counsel to an ad hoc committee of creditors, which eight
    members are parties-in-interest in the Debtor's Chapter 11
    case.  The identity of the eight members is subject to
    confidentiality agreements to which the firm is a party;

  * Blackstone has been engaged to provide financial advisory
    services by Davis Polk & Wardwell LLP, as counsel to
    Barclays Capital Real Estate Finance Inc. as a holder of
    certain mezzanine loans pledged by Highland Hospitality L.P.
    and HHC TRS Holding Corp.;

  * Blackstone has been engaged by the Bank of Scotland plc, as
    administrative agent under the Marnell Sher Credit
    Agreements as its financial advisor on behalf of the
    lenders; and

  * Blackstone has been engaged to act as a mediator to
    facilitate discussions among Ambac Assurance Corporation,
    The Weinstein Company LLC and The Weinstein Portfolio
    Funding Company LLC in connection with a potential
    restructuring of TWC and WPFC.

Stefan Feuerabendt, senior managing director of Blackstone,
relates that his firm does not believe that any of its
involvement with any of the entities listed in the Gentile
Declaration will adversely affect the Debtor in any way.
Blackstone has not represented, does not represent, and will not
represent any entity on the Parties-in-Interest List in the
Debtor's Chapter 11 case nor have any relationship with any such
entity which would be adverse to the Debtor, he assures the
Court.

Messrs. Gentile and Feuerabendt maintain that Blackstone is a
"disinterested person" within the meaning of Section 101(14) of
the Bankruptcy Code.

                           *     *     *

Before the entry of the Court's order, Stefan Feuerabendt, senior
managing director of Blackstone Advisory Partners L.P., reminded
Judge Chapman that his firm was retained on a postpetition basis
by Dewey & LeBoeuf LLP to advise on the restructuring,
reorganization and capital-raising efforts of the Debtor and its
subsidiaries, including Ambac Assurance Corp.

Mr. Feuerabendt disclosed that effective November 8, 2010, the
Prepetition Retention was terminated, and since that time,
neither Blackstone nor its affiliated companies have represented,
advised or provided services to or on behalf of AAC or its board
of directors.  Blackstone is currently being employed by the
Debtor to provide services and advice solely to the Debtor, not
AAC, he clarified.  Any analysis of or communications with or
regarding AAC in connection with Blackstone's employment pursuant
to the Debtor's Application is solely as advisor to the Debtor,
he added.

For the avoidance of doubt, since the Petition Date, at the
request of the Debtor and its counsel, Blackstone has
communication and will communicate with AAC's management, board
of directors and representatives, Mr. Feuerabendt assured the
Court.  Any of those communications are on behalf of the Debtor,
and are not in any capacity as advisor to AAC, its management,
board of directors or representatives, he clarified.

                       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: Committee Gets OK for Morrison as Counsel
----------------------------------------------------------
The Official Committee of Unsecured Creditors in Ambac Financial
Group Inc.'s cases received the Bankruptcy Court's authority to
hire Morrison & Foerster LLP as its counsel, nunc pro tunc to
November 17, 2010.

As the Committee's counsel, Morrison & Foerster will:

  (a) assist and advise the Committee in its consultation with
      the Debtor relative to the administration of the Debtor's
      Chapter 11 case;

  (b) attend meetings and negotiate with representatives of the
      Debtor and Sean Dilweg, the head of Wisconsin's Office of
      the Commissioner of Insurance and their advisors;

  (c) assist and advise the Committee in its examination and
      analysis of the conduct of the Debtor's affairs;

  (d) assist and advise the Committee in the review, analysis
      and negotiation of any plans of reorganization that may be
      filed and to assist the Committee in the review, analysis
      and negotiation of the disclosure statement accompanying
      any plans of reorganization;

  (e) analyze and advise the Committee regarding tax issues in
      connection with the Debtor's reorganization;

  (f) assist and advise the Committee regarding its examination
      and analysis of any potential investment in the Debtor by
      a third party;

  (g) take all necessary action to protect and preserve the
      interests of the Committee and general unsecured
      creditors, including (i) possible prosecution of actions
      on their behalf, (ii) if appropriate, negotiations
      concerning all litigation in which the Debtor is involved;
      and (iii) if appropriate, review and analysis of claims
      filed against the Debtor's estate;

  (h) generally prepare on behalf of the Committee all necessary
      motions, applications, answers, orders, reports and papers
      in support of positions taken by the Committee;

  (i) appear, as appropriate, before the Bankruptcy Court,
      appellate courts, and the U.S. Trustee, and protect the
      interests of the Committee before those courts and
      before the U.S. Trustee; and

  (j) perform all other necessary legal services in the Debtor's
      case.

Morrison & Foerster's professionals will be paid according to
their customary hourly rates:

         Title                      Rate per Hour
         -----                      -------------
         Partners                  $625 to $1,025
         "Of Counsel"                $500 to $900
         Associates                  $325 to $650
         Paraprofessionals           $165 to $290

These professionals at Morrison & Foerster are presently expected
to have primary responsibility for providing services to the
Committee in the firm's engagement:

   Name                         Title           Rate per Hour
   --------------         ------------------    -------------
   Anthony Princi         Bankruptcy Partner        $900
   Gary S. Lee            Bankruptcy Partner        $900
   Thomas A. Humphreys    Tax Partner               $950
   Remmelt Reigersman     Tax Associate             $590
   Alexandra S. Barrage   Bankruptcy Of Counsel     $635
   Renee L. Freimuth      Bankruptcy Associate      $590
   Stacy Molison          Bankruptcy Associate      $430
   Stephen Koshgerian     Bankruptcy Associate      $370
   Douglas Keeton         Paraprofessional          $195

Morrison & Foerster will also be reimbursed for actual and
necessary expenses incurred.

Anthony Princi, Esq., a partner at Morrison & Foerster LLP --
aprinci@mofo.com -- relates that his firm represented an ad hoc
committee of holders of the Senior Notes in connection with the
Debtor's restructuring efforts before the Petition Date.
Morrison & Foerster was retained by the Ad Hoc Committee on
May 28, 2010.  Pursuant to the Ad Hoc Committee engagement,
Morrison & Foerster was paid by and received a retainer from the
Debtor, a portion of which was used to satisfy prepetition fees
and expenses owing to Morrison & Foerster.  Morrison & Foerster
has a security interest in the retainer and will continue to hold
the balance of the retainer during the Debtor's Chapter 11 case,
Mr. Princi relates.

From May 28, 2010, Morrison & Foerster billed and was paid by the
Debtor $1,956,857 for services rendered in connection with the
firm's representation of the Ad Hoc Committee, Mr. Princi
discloses.  The amount was received by Morrison & Foerster within
the 90 days before the Petition Date.  On November 17, 2010, upon
being selected as counsel to the Committee, Morrison & Foerster
resigned as counsel to the Ad Hoc Committee.  Thus, as of the
Petition Date, the Debtor does not owe Morrison & Foerster for
legal services rendered prepetition, Mr. Princi relates.  He adds
that as of the Petition Date, Morrison & Foerster is not a
creditor of the Debtor.

In addition, Mr. Princi states that certain parties-in-interest
are or may be current or former clients of the firm, a schedule
of which is available for free at:

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

Mr. Princi maintains that Morrison & Foerster is a "disinterested
person," as that term is defined under Section 101(14) of the
Bankruptcy Code.

                       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: Committee Wins OK for Lazard as Fin'l Advisor
--------------------------------------------------------------
The Official Committee of Unsecured Creditors in Ambac Financial
Group Inc.'s cases sought and obtained the Bankruptcy Court's
authority to retain Lazard Freres & Co. LLC as its financial
advisor and investment banker, nunc pro tunc to November 22, 2010.

As the Committee's financial advisor, Lazard will:

  (a) review and analyze the business, operations, and
      financial projections of the Debtor;

  (b) review and provide an analysis of any proposed
      capital structure for the Debtor;

  (c) review and provide an analysis of any valuation of the
      Debtor or its assets;

  (d) advise and attend meetings of the Committee as well as
      meetings with the Debtor or other third parties, including
      the Office of the Commissioner of Insurance of the State
      of Wisconsin and its advisors, as appropriate in
      connection with the matters set forth herein;

  (e) review and provide analysis of various issues relating
      to the Debtor's operating insurance subsidiary,
      Ambac Assurance Corporation, which is subject a partial
      rehabilitation in Wisconsin;

  (f) review and provide an analysis of any restructuring
      plan proposed by any party;

  (g) assist the Committee in connection with the financial
      aspects of negotiations with the Debtor;

  (h) assist the Committee in the evaluation of strategic
      alternatives potentially available to the Debtor,
      including identifying potential investors; and

  (i) provide other financial advisory services as the Committee
      may from time to time reasonably request and which are
      customarily provided by financial advisors in similar
      situations.

Lazard will be paid according to this fee structure:

  * Monthly Fees: Lazard will be paid a monthly fee equal to
    $150,000 per month, which will accrue upon execution of the
    Engagement Letter and on the first day of each month
    thereafter until any termination of Lazard's engagement
    pursuant to the Engagement letter.  Each Monthly Fee will be
    paid in advance on the first day of each month.

  * Restructuring Fee: A $5,800,000 fee, payable upon
    consummation of a Restructuring, provided, however, that, in
    the event the Committee votes in a Committee Meeting on the
    Restructuring and fewer than four members of the Committee
    vote in favor of the Restructuring, the amount of the
    Restructuring Fee will be $4,000,000.

  * Expenses: In addition to any fees that may be payable to
    Lazard, the Debtor will promptly reimburse Lazard for all
    expenses incurred in connection with, or arising out of
    Lazard's activities under or contemplated by, their
    engagement, in an amount not to exceed $50,000 without the
    Debtor's prior consent, which will not be unreasonably
    withheld or delayed.

Ari Lefkovits, a director of Lazard Freres, relates that his firm
served as financial advisor to an ad hoc committee of holders of
the Senior Notes in connection with the Debtor's restructuring
efforts before the Petition Date.  Lazard was retained by the Ad
Hoc Committee on August 1, 2010.  Pursuant to the Ad Hoc
Committee engagement, Lazard received a retainer from the Debtor,
a portion of which was used to satisfy prepetition fees and
expenses owing to Lazard, as defined and disclosed in the
Lefkovits Affidavit.  Lazard also received an expense retainer of
$10,000, before the Debtor's filing for bankruptcy, Mr. Lefkovits
notes.

From the period beginning August 1, 2010, the Debtor paid Lazard
about $615,231 for services rendered in connection with the
firm's representation of the Ad Hoc Committee, according to Mr.
Lefkovits.  Upon being selected as financial advisors and
investment bankers to the Committee, Lazard resigned as financial
advisors to the Ad Hoc Committee.  As of the Petition Date, the
Debtor does not owe Lazard for services rendered before the
Petition Date, Mr. Lefkovits avers.

Mr. Lefkovits further notes that Lazard has been retained within
the last three years to represent certain parties-in-interest in
matters unrelated to the Debtor's Chapter 11 case, a schedule of
which is available for free at:

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

Lazard also has an asset management affiliate, Lazard Asset
Management LLC, Mr. Lefkovits discloses.  While Lazard receives
payments from LAM generated by LAM's business operations, LAM is
operated as a separate and distinct affiliate and is separated
from the firm's other businesses, including Lazard's financial
advisory services group and its managing directors and employees
advising the Debtor, by an ethical wall, he assures the Court.

Mr. Lefkovits maintains that Lazard is a "disinterested person"
as the term is defined under Section 101(14) of the Bankruptcy
Code.

                       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)


ANPATH GROUP: Files Form 15 as Stockholders Down to 250
-------------------------------------------------------
Anpath Group, Inc., filed with the Securities and Exchange
Commission on December 28, 2010, a Form 15 notice of termination
of registration or suspension of its duty to file reports.  Anpath
filed the notice pursuant to Rule 15d-6 as the number of its
holders of record of its common stock, par value $0.0001, is down
to 250.

                        About Anpath Group

Based in Mooresville, N.C., Anpath Group, Inc. (OTC BB: ANPG)
-- http://www.anpathgroup.com/-- through its wholly-owned
subsidiary EnviroSystems, Inc., produces disinfecting, sanitizing
and cleaning products designed to help prevent the spread of
infectious microorganisms, while minimizing the harmful effects to
people, application surfaces and the environment.

The Company filed for Chapter 11 bankruptcy protection on May 20,
2010 (Bankr. D. Del. Case No. 10-11652), pursuant to which it
proposed a plan of reorganization.  Mark E. Felger, Esq., at
Cozen O'Connor, assists the Company in its restructuring effort.
The Company disclosed $1,548,646 in assets and $3,536,825 in
Liabilities in its schedules.

The Plan proposed a restructuring of the debt and other claims
against the Company vis-a-vis the interests of its current
shareholders.  Before it was filed, the Company sought the support
of its principal creditors for the Plan that was being proposed.
In connection with this initiative, a super-majority of the Senior
Secured Class of creditors, including Anpath Lending, and a super-
majority of the investors holding more than 50% of the Convertible
Notes all signed the Plan Support Agreement.


ANTHONY DIAZ: Case Summary & 15 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Anthony Diaz
        7009 Via Bella Luna
        Las Vegas, NV 89131

Bankruptcy Case No.: 10-33765

Chapter 11 Petition Date: December 23, 2010

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

Judge: Mike K. Nakagawa

Debtor's Counsel: C. Andrew Wariner, Esq.
                  LAS VEGAS BANKRUPTCY LAW
                  823 Las Vegas Boulevard South, Suite 500
                  Las Vegas, NV 89101
                  Tel: (702) 953-0404
                  Fax: (702) 989-5388
                  E-mail: awariner@lvbklaw.com

Estimated Assets: $0 to $50,000

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

A list of the Debtor's 15 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nvb10-33765.pdf


APOLLO MEDICAL: Francis Named New CFO After DeWinter Retirement
---------------------------------------------------------------
A. Noel DeWinter announced his retirement as the Chief Financial
Officer of Apollo Medical Holdings, Inc., effective December 31,
2010.  Mr. DeWinter had been the Company's Chief Financial Officer
since August 2008.

Concurrently with the retirement of Mr. DeWinter, the Company has
appointed Kyle Francis, as the Company's Chief Financial Officer
effective January 1, 2011.  Mr. Francis has been with the Company
since 2008 and has served as the Executive Vice President of
Business Development and Strategy.  He will continue to serve in
that function as well as Chief Financial Officer.

                        About Apollo Medical

Glendale, Calif.-based Apollo Medical Holdings, Inc., provides
hospitalist services in the Greater Los Angeles, California area.
Hospitalist medicine is organized around the admission and care of
patients in an inpatient facility such as a hospital or skilled
nursing facility and is focused on providing, managing and
coordinating the care of hospitalized patients.

The Company's balance sheet at Oct. 31, 2010, showed $1.29 million
in total assets, $1.39 million in total liabilities, and a
stockholders' deficit of S101,002.

As reported in the Troubled Company Reporter on June 2, 2010,
Kabani & Company, Inc., in Los Angeles, expressed substantial
doubt about the Company's ability to continue as a going concern,
following the Company's results for the fiscal year ended
January 31, 2010.  The independent auditors noted that the Company
has an accumulated deficit of $1.24 million as of January 31,
2010, working capital of $1.07 million and cash flows used in
operating activities of $338,141.


ATLANTIC BROADCASTING: Organizational Meeting Set for Jan. 6
------------------------------------------------------------
Roberta A. DeAngelis, United States Trustee for Region 3, will
hold an organizational meeting on January 6, 2011, at 2:00 p.m. in
the bankruptcy case of Atlantic Broadcasting of Linwood NJ Limited
Liability Company.  The meeting will be held at United States
Trustee's Hearing Room, Bridge View, 800-840 Cooper Street, Suite
102, Camden, NJ 08102.

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

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

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

Linwood, New Jersey-based Atlantic Broadcasting of Linwood filed
for Chapter 11 bankruptcy protection on December 20, 2010 (Bankr.
D. N.J. Case No. 10-49149).  Joshua T. Klein, Esq., at Fox,
Rothschild LLP, serves as the Debtor's bankruptcy counsel.
The Debtor estimated its assets and debts at $1 million to
$10 million.


B&F MARINE: Files for Bankruptcy to Restructure $1.8 Mil. Debt
--------------------------------------------------------------
Paul Brinkmann at South Florida Business Journal reports that B&F
Marine is in Chapter 11 to restructure a high-interest loan from
Regions Bank for about $1.8 million, which is secured by a lien on
B&F's retail store.

"Regions would only give them a high-interest loan for a short
time.  The purpose of the case is to restructure that debt and
give them an opportunity to stabilize," the report quotes Luis
Salazar, B&F's attorney, as stating.

B&F Marine filed for Chapter 11 bankruptcy protection on Dec. 22,
2010 (Bankr. S.D. Fla. Case No. 10-48748), disclosing
$4.39 million in total assets and $3.07 million in liabilities.

B&F Marine is marine retailer in Miami.  Anti-Castro activist
Antonio Veciana founded B&F Marine in 1961.  During good times, it
expanded to four locations, but has since closed three and is
focusing on its main location at 4001 S.W. 72nd Ave.


B&F MARINE: Case Summary & 11 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: B&F Marine, Inc.
        4001 S.W. 72 Avenue
        Miami, FL 33155

Bankruptcy Case No.: 10-48748

Chapter 11 Petition Date: December 22, 2010

Court: United States Bankruptcy Court
       Southern District of Florida (Miami)

Judge: Robert A. Mark

Debtor's Counsel: Luis Salazar, Esq.
                  INFANTE, ZUMPANO, HUDSON & MILOCH, LLC
                  500 S. Dixie Hwy # 302
                  Coral Gables, FL 33146
                  Tel: (305) 503-2990
                  Fax: (305) 774-5908
                  E-mail: luis.salazar@izhmlaw.com

Scheduled Assets: $4,393,609

Scheduled Debts: $3,071,251

A list of the Company's 11 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/flsb10-48748.pdf

The petition was signed by Antonio Veciana, Jr., president.


BANK OF FLORIDA: Reports $11.0MM Gain from Discontinued Operations
------------------------------------------------------------------
Bank of Florida Corporation filed its quarterly report on Form
10-Q, reporting net income of $10.2 million for the three months
ended June 30, 2010, compared with a net loss of $6.5 million for
the same period ended June 30, 2009.

Net income for the second quarter of 2010 included a gain from
discontinued operations of $11.0 million (net of a $14.6 million
gain on the disposal of the banking subsidiaries as certain
estimated net losses and expenses reported in prior periods were
not realized on a cash basis prior to transfer of the banking
subsidiary assets and liabilities to the FDIC as receiver).

The Company's balance sheet as of June 30, 2010, showed
$4.8 million in total assets, $270,000 in total liabilities, and
stockholders' equity of $4.5 million.

Total assets decreased to $4.8 million at June 30, 2010, from
$1.4 billion at December 31, 2009, as a result of assumption by
the FDIC as receiver of all assets and liabilities of the Bank
subsidiaries on May 28, 2010.

On May 28, 2010, the Company's principal operating subsidiaries
Bank of Florida - Southwest, Bank of Florida - Southeast and Bank
of Florida - Tampa Bay, were closed by the Florida Office of
Financial Regulation and placed into receivership with the FDIC.
The Company's failure to comply with the capital requirements of a
number of regulatory enforcement actions to which it was subject
was the cause of the failure of the Banks.  Since then, the
Company's only remaining operations are those of the Bank of
Florida Trust Company, which cannot be expected to provide
significant revenues or profits relative to the potential of the
Company's prior operations.

"Although we are presently continuing to operate the Trust Company
we are also currently evaluating our options relative to the Trust
Company, which include continuing to operate it, selling it,
merging it into another financial and any other reasonable, viable
strategic transaction.  If we ultimately elect an option other
than continuing to operate the Trust Company, it is our intent to
wind down our operations following divestiture of the Trust
Company.  If we do elect to divest of the Trust Company, or if we
are not successful in continuing its operations in a profitable
manger, we may not be able to continue as a going concern.  In
which case, share of our common stock will have no value," the
Company said in the filing.

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

               http://researcharchives.com/t/s?7189

                About Bank of Florida Corporation

Naples, Fla.-based Bank of Florida Corporation. (Nasdaq: BOFL)
-- http://www.bankofflorida.com/-- was incorporated in Florida in
September 1998.  On May 28, 2010, each of the Company's three
subsidiary banks (Bank of Florida - Southwest, Bank of Florida -
Southeast and Bank of Florida - Tampa Bay) was closed by the
Florida Office of Financial Regulation and placed into
receivership with the Federal Deposit Insurance Corporation
("FDIC").  Since then, the Company's only remaining operations are
those of Bank of Florida Trust Company ("the Trust Company").

The Company is currently in the process of evaluating its options
relative to the Trust Company, which include continuing to operate
it, selling it, merging it into another financial institution and
any other reasonable, viable strategic transaction.  If the
Company ultimately elects an option other than continuing to
operate the Trust Company, it is the Company's intent to wind down
its operations following divestiture of the Trust Company.


BAY THREE: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Bay Three Limited, Inc.
        dba Boston's The Gourmet Pizza
        P.O. Box 190
        Belmar, NJ 07719

Bankruptcy Case No.: 10-49416

Chapter 11 Petition Date: December 22, 2010

Court: United States Bankruptcy Court
       District of New Jersey (Trenton)

Judge: Michael B. Kaplan

Debtor's Counsel: Carol L. Knowlton, Esq.
                  TEICH GROH
                  691 State Highway 33
                  Trenton, NJ 08619
                  Tel: (609) 890-1500
                  E-mail: cknowlton@teichgroh.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/njb10-49416.pdf

The petition was signed by Paul Pimentel, president.


BION ENVIRONMENTAL: Names William O'Neill as New Chief Executive
----------------------------------------------------------------
On December 22, 2010, Bion Environmental Technologies Inc.
executed a final agreement with William O'Neill pursuant to which
he will become Bion's CEO on January 1, 2011.  The Agreement runs
through December 31, 2014.  Mr. O'Neill is also joining the
Company's Board of Directors.

Prior to joining the Company, Mr. O'Neill served as Vice
President-Business Development of Advanced Brands until its sale
during 2010.

On December 21, 2010 the Company executed a final agreement with
Edward T. Schafer pursuant to which he will become Bion's
Executive Vice Chairman on January 1, 2011.  The agreement runs
through December 31, 2013.  Mr. Schafer will also join the
Company's Board of Directors at that date.  Mr. O'Neill previously
served as Governor of North Dakota and US Secretary of
Agriculture.

                     About Bion Environmental

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

The Company's balance sheet at Sept. 30, 2010, showed
$1.93 million in total assets, $1.14 million in total liabilities,
$2.52 million of Series B Redeemable Convertible Preferred stock,
and a stockholders' deficit of $1.72 million.

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

The Company has not generated revenues and has incurred net losses
of approximately $2,976,000 and $1,318,000 during the years ended
June 30, 2010 and 2009, respectively.


BLOCKBUSTER INC: BofA Wants Lift Stay for Park Bank Action
----------------------------------------------------------
Bank of America, N.A., asks the Bankruptcy Court to (i) modify the
automatic stay for the limited purpose of taking discovery, or in
the alternative, for leave to conduct discovery as to Blockbuster
Inc. under Rule 2004 of the Federal Rules of Bankruptcy Procedure.

BofA wants to take discovery of Blockbuster relating to a lease
dispute that resulted in litigation commenced against BofA, as
defendant, and Blockbuster, as third-party defendant, prior to the
commencement of the bankruptcy cases.  BofA also asks the
Bankruptcy Court to direct Blockbuster to make production of
documents relating to that dispute and make available a corporate
representative to testify regarding the dispute.

Prior to filing for bankruptcy protection, Blockbuster was a
third-party defendant in an action that was commenced in May 2010
by Vernon Park Plaza and Parke Bank in the United States District
Court for the Eastern District of Pennsylvania captioned Parke
Bank, et al. v. Bank of America, N.A., No. 10-2368.  The Parke
Bank Action arose out of a dispute between Plaintiffs, as lessors
of a building in Vernon, Connecticut, BofA, as lessee and
sublessor, and Blockbuster, as sublessee, relating to whether it
is the obligation of BofA, Blockbuster, or neither, to incur
currently unquantified expenses to restore the leased premises to
its pre-lease condition.

As part of the Parke Bank Action, BofA alleged that following the
expiration of its lease with the Plaintiffs, which expired
approximately three weeks before the expiration of the sublease
between BofA and Blockbuster, the sublease, by its express terms,
became a direct lessee between the Plaintiffs and Blockbuster,
with all attendant obligations passing from Bank of America to
Blockbuster.  BofA later learned that sometime between July 9 and
July 26, 2010, Blockbuster and the Plaintiffs executed a direct
lease that purports to make it the obligation of BofA -- as
opposed to Blockbuster -- to restore the leased premises,
presumably so as not to hinder the Plaintiffs' interests in the
litigation, Andrew B. Eckstein, Esq., at Blank Rome LLP, in New
York -- AEckstein@BlankRome.com -- alleges.

Because discovery on the Plaintiffs' claims against BofA in the
Parke Bank Action is ongoing and is set to close on April 8, 2011,
BofA seeks an order modifying the automatic stay to allow BofA to
take discovery of Blockbuster, and to seek production of documents
relating to the parties' negotiation and execution of and
performance under the various lease agreements.

Mr. Eckstein contends that the discovery is necessary to BofA's
efforts to defend itself and prove its defenses in the Parke Bank
Action.  He assures Judge Burton R. Lifland that BofA does not
seek this discovery for the purpose of affirmatively prosecuting
its claims against Blockbuster, given that those claims are
subject to the automatic stay, are the subject of a Proof of Claim
filed by BofA in the bankruptcy proceeding, and will be
administered through the Bankruptcy Court's the claims
administration process.

                       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: Cohen, et al, Want to Certify Class in Ill. Suit
-----------------------------------------------------------------
Marc Cohen, Marc Perper and Uwe Stueckrad, on behalf of
themselves, all others similarly situated and the general
public, plaintiffs and putative class members in the action
titled Cohen, et al. v. Blockbuster Entertainment Inc.,
Circuit Court of Cook County, Illinois, Chancery Court Case
No. 99-CH-2561 (consolidated), asks the Bankruptcy Court for an
order (i) pursuant to Rules 9014 and 7023 of the Federal Rules of
Bankruptcy Procedure applying Rule 23 of the Federal Rules of
Civil Procedure to a December 7, 2010 class proof of claim, and
(ii) to certify the classes of Blockbuster customers.

The Class Action was filed on February 18, 1999.  The classes were
certified on April 23, 2001, but were subsequently decertified on
March 14, 2008.  The Cohen Class Plaintiffs vigorously contend
that the decertification was an error and, on March 30, 2010,
moved to certify the class action, which motion was fully briefed
and pending in Illinois state court on the Petition Date.

The proposed classes consist of all United States of America
residents, who rented videos from Blockbuster, who either incurred
late fees or were forced to purchase unreturned videos between
February 18, 1994, and December 31, 2004, based on a Blockbuster
membership agreement that did not contain an arbitration clause,
and who are not bound by the settlement in Scott v. Blockbuster
Inc., No. D 162-535 (Jefferson County, Tex.).

Blockbuster listed each Class Representative's claim in its
Schedules of Assets and Liabilities as "Litigation-Consumer, Case
No. Chancery Case No. 99CH02561" and as contingent, unliquidated,
disputed and of an undetermined amount.  On November 10, 2010, the
Bankruptcy Court entered an order setting December 22, 2010, as
the deadline for filing proofs of claim.  On December 7, 2010, the
Class Representatives filed the Class Claim listing a general
unsecured claim of "at least $2,000,000."  Each Class
Representative also filed an individual proof of claim for "at
least $150.00" (Claim No. 1753), "at least $340.00" (Claim No.
1755) and "at least $5.00" (Claim No. 1756).

Heather D. McArn, Esq., at Jenner & Block LLP, New York --
hmcarn@jenner.com -- asserts that the Bankruptcy Court should
exercise its discretion and grant the requested relief.  She
contends that the Class Claim and the request were filed early in
the proceedings, in advance of the Bar Date and well in advance of
any plan of reorganization being proposed or confirmed.  She adds
that the proposed classes are of sufficient size, share common
questions of law and fact, and are represented by parties, who
hold claims typical of the classes and who will fairly and
adequately protect the interests of the classes.

Class treatment affords the most efficient process for identifying
and fairly resolving the grievances of the estimated many tens of
thousands of Blockbuster customers, who were charged unlawful
penalty fees during the class period, Ms. McArn further argues.

Judge Burton R. Lifland will convene a hearing on January 20,
2011, to consider the request.  Objections are due on January 12.

                       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)


BORDERS GROUP: Delaying Payments to Publishers
----------------------------------------------
The Wall Street Journal's Jeffrey Trachtenberg reports that
Borders Group Inc. said Thursday it is delaying payments to some
publishers.  According to the Journal, Borders said the delays
were part of its efforts to refinance its debt and that it had
notified the publishers with which it is seeking to restructure
payments.

The Journal relates Borders also said "there can be no assurance"
that its larger refinancing efforts will be successful.  It
reiterated an earlier disclosure that without refinancing, it
could violate its existing credit agreements in the first quarter
of 2011 and "experience a liquidity shortfall."

The Journal reports a Borders spokeswoman declined to say how many
publishers aren't being paid, to name them or say how much money
is involved.

On December 9, 2010, Borders said for the third quarter ended
October 30, 2010, sales were $470.9 million, a decrease of 17.6%
from the same period a year ago.  Comparable store sales declined
by 12.6%.  The Company incurred a loss from continuing operations
in the third quarter of $74.4 million.  For the same period a year
ago, the company had a loss of $37.7 million.

The Company said during the third quarter, its borrowing capacity
under its revolving credit facility was reduced as a result of a
third party valuation that lowered the estimated liquidation value
of its inventory.  Due to this and other factors, including its
lower than projected sales, Borders said it is taking several
actions to improve liquidity.  Borders said at that time, it was
in detailed discussions with potential lenders for replacement
financing that Borders believes will provide sufficient liquidity
through at least the beginning of 2012.  Additional steps that
Borders is pursuing include the potential sale of certain assets
as well as cost reduction and sales generating initiatives.
Borders cautioned that there can be no assurance that it will be
able to obtain adequate financing or that its other initiatives
will be successful.  Borders also said if the steps it is taking
are not successful, it could be in violation of the terms of its
credit agreements in the first quarter of calendar 2011, which
could result in a liquidity shortfall.

The Journal recalls a key shareholder in Borders, activist
investor William Ackman, earlier in December offered to finance a
bid for Borders to buy Barnes & Noble for $960 million, or $16 a
share.  According to the Journal, Barnes & Noble, which put itself
up for sale in August 2010, declined to comment at the time on
Mr. Ackman's offer.  Many viewed the offer as too low and that
such a deal would likely face antitrust scrutiny.

                           *     *     *

In a subsequent report, the Journal's Mr. Trachtenberg says Jed
Lyons, the chief executive of Rowman & Littlefield Publishing
Group Inc., which publishes its own titles and distributes books
for several hundred publishers through its National Book Network,
said in an interview the company was taking the step to look out
for its clients.  Mr. Lyons said he wanted more information from
Borders and expected to learn more from the bookseller this week.
"Up until now they'd been paying us like clockwork," he said.

Mr. Trachtenberg also relates Lagardere SCA's Hachette Book Group,
one of the largest publishers in the U.S., said last week it would
decide whether to ship new books to Borders shortly.  A second
publisher, Sourcebooks Inc., said it too was considering its
options.

Mr. Trachtenberg also notes another publishing executive, who
asked not to be identified, said that Borders this week may ask
the publishers and distributors who didn't receive payments last
week to convert a portion of those payments to debt.  Such a move
might help Borders in its wider refinancing efforts.

Krista Klaus, staff writer for Kansas City Business Journal,
reports that Borders Group Inc. is closing its Borders bookstore
at 119th Street and Metcalf Avenue in Overland Park effective
January 7.  Spokesperson Mary Davis said Borders does not have
immediate plans to re-open the store.

Borders has five other stores in the Kansas City area, including
at 9108 Metcalf Ave. and 15350 W. 119th St. in Olathe.

Business Journal says Borders' going-out-of business sale includes
bargain books marked down 75% and regular stock items marked down
40%.

                        About Borders Group

Headquartered in Ann Arbor, Michigan, Borders Group, Inc. (NYSE:
BGP) -- http://www.borders.com/-- is a specialty retailer of
books as well as other educational and entertainment items.  It
employs 19,500 throughout the U.S., primarily in its Borders(R)
and Waldenbooks(R) stores.  The Wall Street Journal says Borders
is the nation's second-largest bookstore chain by revenue, behind
Barnes & Noble Inc.


BROADBAND EXPO: Case Summary & 5 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Broadband Expo LLC
        303 West Jackson Avenue
        Oxford, MS 38655

Bankruptcy Case No.: 10-16223

Chapter 11 Petition Date: December 23, 2010

Court: United States Bankruptcy Court
       Northern District of Mississippi (Aberdeen)

Debtor's Counsel: Craig M. Geno, Esq.
                  HARRIS JERNIGAN & GENO, PLLC
                  P.O. Box 3380
                  Ridgeland, MS 39158-3380
                  Tel: (601) 427-0048
                  E-mail: cmgeno@harrisgeno.com

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

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

A list of the Company's five largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/msnb10-16223.pdf

The petition was signed by Cindy M. Sinervo, vice president.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Oxford Expositions LLC                 10-16218   12/23/10


BROADCAST INT'L: Nets $13.5MM from Equity Sale, Restructures Debt
-----------------------------------------------------------------
On December 24, 2010, Broadcast International Inc. closed on an
equity financing as well as a restructuring of its outstanding
convertible indebtedness.

The Company entered into a Placement Agency Agreement, dated
December 17, 2010, with Philadelphia Brokerage Corporation,
pursuant to which PBC agreed to act as the exclusive agent of the
Company on a "best efforts" basis with respect to the sale of up
to a maximum gross consideration of $15,000,000 of units of the
Company's securities, subject to a minimum gross consideration of
$10,000,000.  The Company agreed to pay PBC a commission of 8% of
the gross offering proceeds received by the Company, to issue PBC
40,000 shares of its common stock for each $1,000,000 raised, and
to pay the reasonable costs and expenses of PBC related to the
offering.  The Company also agreed to pay PBC a restructuring fee
in the amount of approximately $180,000 upon the closing of the
Equity Financing and simultaneous Debt Restructuring.

Pursuant to the Placement Agency Agreement, the Company entered
into Subscription Agreements dated December 23, 2010 with select
institutional and other accredited investors for the private
placement of 12,500,000 units of its securities.  The Subscription
Agreements included a purchase price of $1.20 per unit, with each
unit consisting of two shares of common stock and one Warrant to
purchase an additional share of common stock.  The Warrants have a
term of five years and an exercise price of $1.00 per share.

Net proceeds from the Equity Financing, after deducting the
commissions and debt restructuring fees payable to PBC and the
estimated legal, printing and other costs and expenses related to
the financing, were approximately $13.5 million.  The Company will
use the net proceeds of the Equity Financing to pay down debt and
for working capital.  The units were offered and sold to
investors, all of whom were either qualified institutional buyers
or accredited investors.  The Company offered and sold the units
without registration under the Securities Act of 1933 in reliance
upon the exemption provided by Rule 506 of Regulation D
thereunder.  The shares and Warrants sold may not be offered or
sold in the United States in the absence of an effective
registration statement or exemption from the registration
requirements under the Securities Act.  An appropriate legend will
be placed on the shares issued, unless registered under the
Securities Act prior to issuance.

On November 29, 2010, the Company entered into a bridge loan
transaction with three accredited investors pursuant to which the
Company issued unsecured notes in the aggregate principal amount
of $1.0 million.  Upon the closing of the Equity Financing, the
lenders converted the entire principal amount plus accrued
interest into the same units offered in the Equity Financing and
were treated as funds raised with respect to the Equity Financing.

In connection with the Equity Financing and under the terms of the
Subscription Agreements, the Company agreed to prepare and file,
within 60 days following the issuance of the securities, a
registration statement covering the resale of the shares of common
stock sold in the financing and the shares of common stock
underlying the Warrants.  If the Company fails to file the
registration statement within 60 days or to have the registration
statement declared effective within 120 days following the date of
the filing of the registration statement, the Company will be
obligated to issue additional warrants to the investors to
purchase an additional 1,250,000 shares for each 30-day period
after the deadlines, until either the registration statement is
filed or declared effective, as the case may be.

On December 24, 2010, the Company also closed on the Debt
Restructuring, including the Loan Restructuring Agreement.  In
connection therewith, the Company:

     i) issued an Amended and Restated Senior Convertible Note in
        the principal amount of $5.5 million to Castlerigg Master
        Investment Ltd.

    ii) paid $2.5 million in cash to Castlerigg,

   iii) cancelled warrants previously issued to Castlerigg that
        were exercisable for a total of 5,208,333 shares of common
        stock,

    iv) issued 800,000 shares of common stock to Castlerigg in
        satisfaction of an obligation under a prior loan
        amendment,

     v) entered into a separate letter agreement with Castlerigg
        dated December 23, 2010, pursuant to which the Company
        paid Castlerigg an additional $2.75 million in cash in
        lieu of the issuance of $3.5 million in stock and warrants
        as provided in the Loan Restructuring Agreement, and

    vi) entered into an Investor Rights Agreement with Castlerigg
        dated December 23, 2010.

As a result of the foregoing, Castlerigg forgave approximately
$7.0 million of principal and accrued but unpaid interest.

The Amended and Restated Note, dated December 23, 2010, is a
senior, unsecured note that matures in three years from the
closing and bears interest at an annual rate of 6.25%, payable
semi-annually.  The Company paid the first year's interest of
approximately $344,000 at the closing.  The Amended and Restated
Note is convertible into shares of common stock at a conversion
price of $1.35 per share, subject to adjustment.  The Amended and
Restated Note is convertible in whole or in part at any time upon
notice by Castlerigg to the Company.  The Amended and Restated
Note also contains various restrictions, acceleration provisions
and other standard and customary terms and conditions.  Two
consolidated subsidiaries of the Company guaranteed the
obligations of the Company under the Amended and Restated Note.

The Investor Rights Agreement provides Castlerigg with certain
registration rights with respect to the Company's securities held
by Castlerigg.  These registration rights include an obligation of
the Company to issue additional warrants to Castlerigg if certain
registration deadlines or conditions are not satisfied.  The
agreement also contains full-ratchet anti-dilution price
protection provisions in the event the Company issues stock or
convertible debt with a purchase price or conversion price less
than the conversion price described above.

In connection with the Debt Restructuring, the Company entered
into an amended note with the holder of its $1.0 million unsecured
convertible note, pursuant to which the maturity date of the note
was extended to December 31, 2013.

                   About Broadcast International

Based in Salt Lake City, Broadcast International, Inc. installs,
manages and supports private communication networks for large
organizations that have widely-dispersed locations or operations.
The Company owns CodecSys, a video compression technology to
convert video content into a digital data stream for transmission
over satellite, cable, Internet, or wireless networks, as well as
offers audio and video production services.  The Company's
enterprise clients use its networks to deliver training programs,
product announcements, entertainment, and other communications to
their employees and customers.

HJ & Associates LLC, in Salt Lake City, expressed substantial
doubt about the Company's ability to continue as a going concern,
after auditing the Company's financial statements for the year
2009.  The independent auditors noted that the Company has
incurred recurring losses from operations and has a deficit in
stockholders' equity and working capital.

The Company's balance sheet as of September 30, 2010, showed
$7.3 million in total assets, $25.3 million in total liabilities,
and a stockholders' deficit of $18.0 million.


C&D TECHNOLOGIES: Angelo Gordon Reports 65.15% Equity Stake
-----------------------------------------------------------
In an amended Schedule 13D filing with the Securities and Exchange
Commission on December 28, 2010, Angelo, Gordon & Co., L.P.
disclosed that it beneficially owns 345,029,647 shares of common
stock of C&D Technologies, Inc. representing 65.15% of the shares
outstanding.  Each of John Angelo and Michael L. Gordon disclosed
65.15% equity stake.

At October 31, 2010, 26,477,841 shares of common stock, $0.01 par
value, of the Company were outstanding.

On December 23, 2010, the transactions contemplated by the
registered exchange offer described in the Restructuring Support
Agreement were consummated, and the Reporting Persons validly
tendered all of their Convertible Senior Notes to the Issuer and
the Reporting Persons did not withdraw them.  In connection with
the registered exchange offer, the Reporting Persons received
3,962.18 Shares for each $1,000 in principal amount of its 5.25%
convertible senior notes due 2025 that had a face value of
$60,496,000.  The 5.25% convertible senior notes due 2025 were not
exercisable within 60 days of the time of the exchange offer.  The
Reporting Persons also received 3,959.91 Shares for each $1,000 in
principal amount of its Notes that had a face value of
$26,600,000.

                      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.


CABI NEW RIVER: Case Summary & 9 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Cabi New River, LLC
          fka Cabi New River II, LLC
          dba Riverfront Marina
        19950 W. Country Club Drive, Suite 900
        Aventura, FL 33180

Bankruptcy Case No.: 10-49013

Chapter 11 Petition Date: December 28, 2010

Court: U.S. Bankruptcy Court
       Southern District of Florida (Miami)

Judge: A. Jay Cristol

Debtor's Counsel: Mindy A. Mora, Esq.
                  BILZIN SUMBERG, ATTORNEYS AT LAW
                  1450 Brickell Avenue, Suite 2300
                  Miami, FL 33131
                  Tel: (305) 350-2414
                  Fax: (305) 351-2242
                  E-mail: mmora@bilzin.com

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

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

The petition was signed by Elias Amkie Levy, manager.

Debtor-affiliates that filed separate Chapter 11 petitions:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Cabi Downtown, LLC                    09-27168            08/18/09
Cabi SMA Tower I, LLLP                10-49009            12/28/10

Debtor's List of nine Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Florida Facilities, LLC            Trade Debt             $140,000
116 East Howard Street
Quincy, MA 02169

IAG Florida, Inc.                  Trade Debt              $19,225
1850 S.E. 17th Street, Suite 108
Fort Lauderdale, FL 33316

RTKL Associates, Inc.              --                       $7,819
P.O. Box 402336
Atlanta, GA 30384

Lochrie & Chakas, P.A.             --                       $5,679

Falkanger Snyder Martineu & Y      --                       $5,460

Coastal Systems International      --                       $4,977

Traf Tech Engineering, Inc.        --                       $2,450

Citizens Property Insurance        Insurance                $2,423

Greenburg Traurig P.A.             Legal Fees                 $213


CABI SMA TOWER: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Cabi SMA Tower I, LLLP
          fka Cabi SMA Retail 1, LLC
              Cabi SMA, LLLP
              Cabi SMA Tower 2, LLC
              Cabi SMA Tower 2, LLLP
              Capital at Brickell
              Cabi SMA Retail 2, LLLP
              Cabi SMA Retail 2, LLC
              Cabi SMA Tower 1, LLC
              Cabi SMA Retail I, LLLP
        19950 W. Country Club Drive, Suite 900
        Miami, FL 33180

Bankruptcy Case No.: 10-49009

Chapter 11 Petition Date: December 28, 2010

Court: U.S. Bankruptcy Court
       Southern District of Florida (Miami)

Judge: A. Jay Cristol

Debtor's Counsel: Mindy A. Mora, Esq.
                  BILZIN SUMBERG, ATTORNEYS AT LAW
                  1450 Brickell Avenue, Suite 2300
                  Miami, FL 33131
                  Tel: (305) 350-2414
                  Fax: (305) 351-2242
                  E-mail: mmora@bilzin.com

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

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

The petition was signed by Elias Amkie Levy, manager of Cabi GP
SMA, LLC, general partner.

Debtor-affiliates that filed separate Chapter 11 petitions:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Cabi Downtown, LLC                    09-27168            08/18/09
Cabi New River, LLC                   10-49013            12/28/10

Debtor's List of 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Fullerton-Diaz Architects          --                     $263,311
366 Altara Avenue
Miami, FL 33146

Capital At Brickell One 4106       Unsecured Portion       $87,671
Cra. 9A N93-23 Apto. 302           of Unit Purchase
Bogota                             Deposit
Colombia

Ramakrishna Kanuri & Radha Kanuri  Unsecured Portion       $87,364
7225 N. Mobley Road                of Unit Purchase
Odessa, FL 33556                   Deposit

Marcos Gamez Bustamante &          Unsecured Portion       $86,000
Angelica Valer                     of Unit Purchase
                                   Deposit

Rafael Raldiris                    Unsecured Portion       $85,700
                                   of Unit Purchase
                                   Deposit

Yellow Courch, Inc.                Unsecured Portion       $85,000
                                   of Unit Purchase
                                   Deposit

Mario Agustin Azpurua              Unsecured Portion       $79,972
                                   of Unit Purchase
                                   Deposit

Mark Weisberg & Marc               Unsecured Portion       $76,173
Swedroe John Haggia                of Unit Purchase
                                   Deposit

Claudio Colombo                    Unsecured Portion       $72,751
                                   of Unit Purchase
                                   Deposit

Alain Laffy & Dominique Dujardin   Unsecured Portion       $69,700
                                   of Unit Purchase
                                   Deposit

Federico Olavarria & Beatriz       Unsecured Portion       $68,092
Penate                             of Unit Purchase
                                   Deposit

Luca Domenica                      Unsecured Portion       $68,000
                                   of Unit Purchase
                                   Deposit

Raiza Gonzalez De Lizcano & Julio  Unsecured Portion       $67,774
Lizcan                             of Unit Purchase
                                   Deposit

Juan Pestana                       Unsecured Portion       $67,600
                                   of Unit Purchase
                                   Deposit

Alfonso Benedettino & Giuseppe     Unsecured Portion       $65,800
Benedetti                          of Unit Purchase
                                   Deposit

Laura Olcesi                       Unsecured Portion       $65,100
                                   of Unit Purchase
                                   Deposit

Guido Pena                         Unsecured Portion       $65,000
                                   of Unit Purchase
                                   Deposit

Jose X. Maltese & Ana G. Bennett   Unsecured Portion       $63,013
                                   of Unit Purchase
                                   Deposit

Hall, Lamb and Hall                Unsecured Portion       $61,910
                                   of Unit Purchase
                                   Deposit

July Milena Vargas & Leonardo Cruz Unsecured Portion       $61,500
                                   of Unit Purchase
                                   Deposit


CAPITAL GROWTH: PGC Seeks Control, Raises Equity Stake to 61.5%
---------------------------------------------------------------
In a regulatory filing, F. Francis Najafi and Pivotal Global
Capacity, LLC, disclosed that, as of December 15, 2010, they may
be deemed to beneficially own 269,219,653 shares of Capital Growth
Systems, Inc.'s common stock, representing 61.5% of the total
shares issued and outstanding.

Mr. Najafi is the president of Pivotal Capital Corporation, which
is the manager of FFN Investments, LLC, which is the sole member
of Pivotal Global Capacity.  Pivotal Global Capacity is the record
owner of all securities subject to this Schedule 13D.

The securities held by Pivotal Global Capacity, LLC, consist of
debentures immediately convertible into 195,454,028 shares of the
Company's common stock, $0.0001 par value, and warrants
immediately exercisable to acquire 73,765,625 shares of the of the
Company's common stock, $0.0001 par value.

The percentage is calculated based on a total of 168,233,180
shares of the of the Company's common stock, $0.0001 par value,
issued and outstanding as of November 5, 2010, as reported on the
Company's Form 10-Q for the quarter ended September 30, 2010, as
filed with the Securities and Exchange Commission on November 15,
2010.

The debentures and warrants were acquired from the holders thereof
to acquire control of a class of the Debtors' creditors in the
bankruptcy proceedings.  A plan of reorganization has been filed
in the proceedings, but has not been confirmed.  PGC intends to
acquire substantially all of the assets of the Debtor or control
of the Debtor under the plan of reorganization upon confirmation.

Neither PGC nor any of its affiliates, at this time, intend to
acquire any additional securities of the Company.  PGC currently
does not intend to convert any of the debentures or exercise any
of the warrants to acquire the Company's common stock.

A full-text copy of Najafi F. Francis' Schedule 13D is available
for free at http://researcharchives.com/t/s?7180

                       About Capital Growth

Headquartered in Chicago, Illinois, Capital Growth Systems, Inc.,
known as Global Capacity, and its subsidiaries operate in one
reportable segment as a single source telecom logistics provider
in North America and the European Union.  The Company helps
customers improve efficiency, reduce cost, and simplify operations
of their complex global networks -- with a particular focus on
access networks.

Capital Growth Systems and its affiliates filed for Chapter 11
protection in July 2010.  The lead debtor is Global Capacity
Holdco LLC (Bankr. D. Del. Case No. 10-12302).   The Debtors are
represented by Francis A. Monaco, Jr. of Womble Carlyle Sandridge
& Rice.

Capital Growth Systems' balance sheet at September 30, 2010,
showed $29.4 million in total assets, $58.6 million in total
liabilities, and a stockholders' deficit of $29.2 million.


CAPRIUS INC: Stockholders to Vote on Merger Proposal
----------------------------------------------------
Caprius, Inc., filed with the Securities and Exchange Commission
on December 22, 2010, a Schedule 13E-3 relating to an Agreement
and Plan of Merger, dated as of November 10, 2010, among Caprius,
Vintage, and Merger Sub.

The Transaction Statement on Schedule 13E-3 was being filed
jointly by (i) Caprius, Inc., a Delaware corporation and the
issuer of the equity securities which are the subject of the Rule
13e-3 Transaction, (ii) Vintage Capital Group, LLC, a Delaware
limited liability company, (iii) Capac Co., a Delaware corporation
and a newly-formed wholly-owned subsidiary of Vintage, (iv) The
Fred C. Sands Children's Trust, which owns 15% of the membership
interests of Vintage, (v) The Fred C. Sands Family Revocable
Trust, which owns 85% of the membership interests of Vintage, and
(vi) Fred C. Sands, the manager of Vintage and the trustee of the
Children's Trust and the Family Trust.

The Merger Agreement, provides for Vintage to acquire Caprius
through a merger of Merger Sub with and into Caprius, with Caprius
to be the surviving corporation and a wholly-owned subsidiary of
Vintage.  Pursuant to the Merger Agreement at the effective time
of the Merger (i) each share of Caprius common stock, par value
$0.01 per share shall be converted into the right to receive
$0.065 per share, in cash, (ii) each share of Caprius Series E
Convertible Preferred Stock, par value $0.01 per share shall be
converted into the right to receive an amount equal to $40.625 per
share in cash, which represents the common-equivalent
consideration for such Series E Preferred based on its current
conversion ratio of 625 shares of Common Stock per share of Series
E Preferred and the per common share merger consideration of
$0.065, and (iii) each share of Caprius Series F Convertible
Preferred Stock, par value $0.01 per share shall be converted into
the right to receive an amount equal to $6.50 per share in cash,
which represents the common-equivalent consideration for such
Series F Preferred based on its current conversion ratio of 100
shares of Common Stock per share of Series F Preferred and the per
common share merger consideration of $0.065, in each case, without
interest and less applicable withholding tax, and automatically be
cancelled and retired.

Concurrently with the filing of the Schedule 13E-3, Caprius is
filing with the Securities and Exchange Commission a preliminary
proxy statement on Schedule 14A pursuant to Section 14(a) of the
Securities Exchange Act of 1934, as amended, relating to a special
meeting of stockholders of the Company.  At the Special Meeting,
the stockholders of Caprius will consider and vote upon a proposal
to approve the Merger.

                        About Caprius, Inc.

Paramus, N.Y.-based Caprius, Inc., is engaged in the infectious
medical waste disposal business, through its wholly-owned
subsidiary M.C.M. Environmental Technologies, Inc., which
developed, markets and sells the SteriMed and SteriMed Junior
compact systems that simultaneously shred and chemically disinfect
regulated medical waste, utilizing its proprietary, EPA
registered, bio-degradable chemical known as Ster-Cid.

The Company's balance sheet at June 30, 2010, showed $1.66 million
in total assets, $5.87 million in total liabilities, and a
$4.22 million stockholders' deficit.

                         *     *     *

Marcum LLP, in New York City, expressed substantial doubt about
the Company's ability to continue as a going concern after
auditing the Company's financial results for fiscal 2009.  The
independent auditors noted of the Company's working capital
deficiency and substantial recurring losses from operations.


CARLISLE APARTMENTS: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: The Carlisle Apartments, L.P.
        c/o Real Estate Capital Partners Limited
        114 W. 47th St., 23rd Fl.
        New York, NY 10036

Bankruptcy Case No.: 10-16805

Chapter 11 Petition Date: December 27, 2010

Court: United States Bankruptcy Court
       Southern District of New York (Manhattan)

Debtor's Counsel: Peter Alan Zisser, Esq.
                  SQUIRE, SANDERS & DEMPSEY LLP
                  30 Rockefeller Plaza
                  New York, NY 10112
                  Tel: (212) 872-9800
                  E-mail: pzisser@ssd.com

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

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

The petition was signed by Michael Fruchtman, vice president and
director of general partner.

The Debtor did not file its list of largest unsecured creditors
when it filed its petition.


CELL THERAPEUTICS: Sees $4.17-Mil. Net Loss for November
--------------------------------------------------------
Cell Therapeutics Inc. provided information pursuant to a request
from the Italian securities regulatory authority, CONSOB, pursuant
to Article 114, Section 5 of the Unified Financial Act.

The Company estimated a net loss of US$4.17 million for the month
ended November 30, 2010, compared with a net loss of US$4.07
million for the month ended Oct. 31, 2010.  The Company estimates
cash of US$27.88 million at the end of November, compared with
US$31.93 million at the end of October.

A full-text copy of the Monthly Information is available for free
at http://ResearchArchives.com/t/s?7188

                     About Cell Therapeutics

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

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

Stonefield Josephson, Inc., in San Francisco, Calif., expressed
substantial doubt about the Company's ability to continue as a
going concern, following the Company's 2009 results.  The
independent auditors noted that the Company has sustained loss
from operations, incurred an accumulated deficit, and has
substantial monetary liabilities in excess of monetary assets as
of December 31, 2009.


CELLU TISSUE: S&P Raises Corporate Credit Rating to 'BB'
--------------------------------------------------------
Standard & Poor's Ratings Services said that it raised its
corporate credit and issue-level ratings on Alpharetta,
Ga.-based Cellu Tissue Holdings Inc. following its acquisition
by Spokane, Wash.-based Clearwater Paper Corp. (BB/Stable/--)
for approximately $530 million, including the repayment and
assumption of debt.  These ratings were removed from CreditWatch,
where they were placed with positive implications on Sept. 17,
2010.

The corporate credit rating was raised to 'BB', the level of the
rating on Clearwater Paper, from 'B+'.  At the same time, S&P
raised the issue-level rating on Cellu Tissue's 11.5% senior
secured notes due 2014 to 'BB' (the same as the corporate credit
rating) from 'B+', and the recovery rating is '4', indicating
S&P's expectations of average (30%-50%) recovery in the event of a
payment default.

Subsequent to this action, S&P withdrew all of its ratings on
Cellu Tissue, as 99.99% of the company's existing rated debt,
consisting of its senior secured notes due 2014, were validly
tendered and purchased by Clearwater as part of the completion of
the acquisition.


CENTAUR LLC: Expects to Emerge from Bankruptcy Early This Year
--------------------------------------------------------------
The Herald Bulletin reports that Centaur LLC could emerge from
Chapter 11 bankruptcy early 2011.  The Company has filed a
proposed settlement with the United States Bankruptcy Court that
would resolve outstanding claims with creditors.  A Hoosier Park
official says the corporate debt restructuring will not impact the
Anderson facility.

According to the Bulletin, the Company said it is in the process
of selling its Fortune Valley Casino and Hotel near Denver, and
the company auctioned its license to build Valley View Downs.  The
court must approve the filing.

The proposed settlement comes as Centaur is scaling back its
holdings to just those in Indiana: Hoosier Park and satellite
wagering facilities around the state, the Bulletin notes.

                        About Centaur LLC

Indianapolis, Indiana-based, Centaur, LLC, aka Centaur Indiana,
LLC -- http://www.centaurgaming.net/-- is involved in the
development and operation of entertainment venues focused on horse
racing and gaming.  The Company and its affiliates filed for
Chapter 11 bankruptcy protection (Bankr. D. Del. Case No. 10-
10799) on March 6, 2010.  The Company estimated its assets and
debts at $500 million to $1 billion as of the Petition Date.
Gerard H. Uzzi, Esq., Michael C. Shepherd, Esq., and Lane E. Begy,
Esq., at White & Case LLP, serve as counsel to the Debtors.

A group of affiliates led by Valley View Downs, LP, filed for
Chapter 11 protection (Bankr. D. Del. Case No. 09-13761) on
October 28, 2009.  Valley View estimated assets and debts at
$100 million to $500 million in its Chapter 11 petition.


CINEMARK HOLDINGS: S&P Gives Positive Outlook, Affirms 'B+' Rating
------------------------------------------------------------------
Standard & Poor's Ratings Services revised its rating outlook on
Plano, Texas-based Cinemark Holdings Inc. and its operating
subsidiary, Cinemark Inc., to positive from stable.  Ratings on
the company, including the 'B+' corporate credit rating, were
affirmed.

The 'B+' rating on Cinemark Holdings Inc. reflects its expectation
that leverage and capital spending will remain relatively high,
but that the company will continue to be among the more profitable
theater chains.  These factors underpin its view that Cinemark's
financial profile is aggressive.  S&P considers the company's
business profile as weak, given the mature nature of the movie
exhibition industry and the company's dependence on box-office
performance.

S&P's assessment of Cinemark's business profile as weak stems from
its participation in the mature and highly competitive U.S. movie
exhibition industry, its exposure to the fluctuating popularity of
Hollywood films, and its vulnerability to the risk of increased
competition from the proliferation of entertainment alternatives.
Cinemark, the third-largest movie exhibitor in the U.S., owned and
operated 428 theaters and 4,938 screens in the U.S. and Latin
America as of Sept. 30, 2010.  Unlike other rated U.S.-based
exhibitors, the company has a significant presence outside the
U.S. in 13 countries, with international operations, primarily in
Latin America, providing some geographic diversity.  The company
has had success in selecting sites and building appropriately
sized theaters.  Its EBITDA margin compares favorably to peers',
benefiting from the company's relatively up-to-date and well-
positioned theater circuits, and its good international operating
results.

"Cinemark has been outperforming other rated peers over the past
several quarters," noted Standard & Poor's credit analyst Tulip
Lim.

For the third quarter ended Sept. 30, 2010, revenue and EBITDA
grew at robust rates of 3% and 19%, respectively, over the prior-
year period.  Growth in the company's international markets,
coupled with outperformance in the domestic market, fueled the
growth.  U.S. admission revenue increased 6% because of a 3%
increase in attendance and a 3% increase in average ticket prices.
International admissions revenue increased 38% due to a 21%
increase in attendance and a 14% increase in average ticket
prices.  For the 12 months ended Sept. 30, 2010, the company's
EBITDA margin improved by nearly 100 basis points over the same
period last year, to 22.4%.  Cinemark's EBITDA margin is better
than its peers', but S&P believes any further margin expansion for
the company and the industry will be minimal.  S&P believes that
exhibitors could face difficult comparisons this holiday season
and in early 2011 because of the standout success of key films a
year ago.  S&P projects revenue and EBITDA growth in the mid- to
high-single-digit percentage range for this year.


CIT GROUP: To Redeem $500 Million of Series A Notes
---------------------------------------------------
CIT Group Inc. will redeem $500 million of its 7% Series A Second
Lien Notes maturing in 2013.  After this redemption, approximately
$1.6 billion principal amount of the 2013 Series A Notes will
remain outstanding.

"Following this redemption we will have repaid more than
$7 billion of first lien and second lien debt over the past 12
months."

The Company has provided a redemption notice to the trustee and
intends to complete the redemption on January 31, 2011.  As
provided under the terms of the Series A Notes, the redemption
price will be 102% of the aggregate principal amount redeemed and
the notes will be redeemed on a pro-rata basis among all of the
2013 Series A Notes.

"The redemption of these Notes will result in reduced borrowing
costs for CIT as we continue to provide much needed credit to
small businesses and middle market companies," said John A. Thain,
Chairman and Chief Executive Officer. "Following this redemption
we will have repaid more than $7 billion of first lien and second
lien debt over the past 12 months."

In November, CIT announced it would redeem its remaining 10.25%
Series B Second Lien Notes maturing in 2017 with a principal
amount of approximately $752 million.  The Company has provided a
redemption notice to the trustee and intends to complete the
redemption on January 4, 2011.

As provided under the terms of the Series B Notes, the redemption
price will be 102% of the aggregate principal amount redeemed.
After this redemption is complete, the Company will have redeemed
all of its outstanding Series B Notes, which had an aggregate
principal amount of approximately $2.15 billion.

                          About CIT Group

Founded in 1908, CIT Group Inc. (NYSE: CIT) -- http://www.cit.com/
-- is a bank holding company with more than $35 billion in finance
and leasing assets. It provides financing and leasing capital to
its more than one million small business and middle market clients
and their customers across more than 30 industries.

CIT Group Inc. and affiliate CIT Group Funding Company of Delaware
LLC announced a Chapter 11 filing on November 1, 2009 (Bankr.
S.D.N.Y. Case No. 09-16565).  Evercore Partners, Morgan Stanley
and FTI Consulting served as the Company's financial advisors and
Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel
in connection with the restructuring plan.  Sullivan & Cromwell
served as legal advisor to CIT's Board of Directors.

CIT Group on November 1, 2009, announced that, with the
overwhelming support of its debtholders, the Board of Directors
voted to proceed with the prepackaged plan of reorganization for
CIT Group Inc. and a subsidiary that will restructure the
Company's debt and streamline its capital structure.  None of
CIT's operating subsidiaries, including CIT Bank, a Utah state
bank, were included in the filings.

On December 8, 2009, the Court confirmed the Debtors' prepackaged
plan.  On December 11, 2009, CIT emerged from bankruptcy.

                           *     *    *

As reported by the Troubled Company Reporter on May 25, 2010, DBRS
assigned various ratings including an Issuer Rating of B (high) to
CIT Group Inc.  DBRS assigned a BB (high) rating to CIT's First
Lien Secured Credit Facility, a BB (low) rating to the second lien
Series B Notes, a B (high) rating to the Series A Notes, a B
rating to the Unsecured Long-Term Debt and a Short-Term rating of
R-4.  The trend on all long-term ratings is Positive.

The TCR on August 4, 2010, reported that DBRS affirmed those
ratings.  DBRS expects CIT should continue to make progress in
improving and diversifying its funding profile, while restoring
underlying profitability.

On May 25, the TCR also reported that Moody's Investors Service
assigned a B3 corporate family rating to CIT Group Inc.  The TCR
said May 3, 2010, Standard & Poor's Ratings Services assigned its
'B+/B' counterparty credit rating to CIT.


CLAIRE'S STORES: Bank Debt Trades at 8% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Claire's Stores,
Inc., is a borrower traded in the secondary market at 92.33 cents-
on-the-dollar during the week ended Friday, December 31, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 0.43
percentage points from the previous week, The Journal relates.
The Company pays 275 basis points above LIBOR to borrow under the
facility.  The bank loan matures on May 29, 2014, and carries
Moody's Caa1 rating and Standard & Poor's B- rating.  The loan is
one of the biggest gainers and losers among 187 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

About Claire's Stores

Claire's Stores, Inc. -- http://www.clairestores.com/-- operates
as a specialty retailer of fashion accessories and jewelry for
preteens and teenagers, as well as for young adults in North
America and internationally.  It offers jewelry products that
comprise costume jewelry, earrings, and ear piercing services; and
accessories, including fashion accessories, hair ornaments,
handbags, and novelty items.

Based in Pembroke Pines, Florida, Claire's Stores operates under
two brands: Claire's(R), which operates worldwide and Icing(R),
which operates only in North America.  As of January 31, 2009,
Claire's Stores, Inc., operated 2,969 stores in North America and
Europe.  Claire's Stores, Inc., also operates through its
subsidiary, Claire's Nippon, Co., Ltd., 213 stores in Japan as a
50:50 joint venture with AEON, Co., Ltd.  The Company also
franchises 198 stores in the Middle East, Turkey, Russia, South
Africa, Poland and Guatemala.

Claire's Stores carries 'Caa3' long term corporate family and
probability of default ratings, with 'stable' outlook, from
Moody's Investors Service, and 'B-' issuer credit ratings, with
'stable' outlook, from Standard & Poor's.


CLST HOLDINGS: Board Okays Voluntary Termination of Registration
----------------------------------------------------------------
On December 27, 2010, the Board of Directors of CLST Holdings Inc.
approved the voluntary termination of registration under Section
12(g) of the Securities Exchange Act of 1934, as amended, and
voluntary suspension of its duty to file periodic and other
reports under Section 15(d) of the Exchange Act with the
Securities and Exchange Commission.

The Company filed a Certification and Notice of Termination of
Registration and Suspension on Form 15 on December 28.  The
Company filed the Form 15 voluntarily as part of the Company's
plan of dissolution and not based on its receipt of any notice
indicating that the Company failed to satisfy any rule or
applicable listing standard under the Exchange Act.

The Company is eligible to terminate its registration under
Section 12(g) of the Exchange Act and its reporting obligations
under Section 15(d) of the Exchange Act were automatically
suspended because it has fewer than 300 stockholders of record.

The Company's obligations to file periodic and current reports
under Section 15(d) of the Exchange Act with the SEC, including
Forms 10-K, 10-Q and 8-K, have been automatically suspended and,
upon filing of the Form 15, the Company's obligations to file
these periodic and current reports under Section 12(g) of the
Exchange Act with the SEC will be immediately suspended and the
termination of registration under Section 12(g) of the Exchange
Act is expected to take effect 90 days after the filing of the
Form 15.

                       About CLST Holdings

CLST Holdings, Inc. (OTC: CLHI) does not have significant
operations.  Previously, it operated as a distributor of wireless
products and provider of distribution and value-added logistics
services to the wireless communications industry, serving network
operators, agents, resellers, dealers, and retailers with
operations in the North American and Latin American Regions.  The
company was formerly known as CellStar Corporation and changed its
name to CLST Holdings, Inc. in March 2007.  CLST Holdings, Inc.
was founded in 1981 and is based in Dallas, Texas.

On March 26, 2010 the Company filed a certificate of dissolution
with the Delaware Secretary of State which became effective on
June 24, 2010.  As a result of the effectiveness of the
certificate of dissolution, the Company was dissolved and, except
to the limited extent provided for by Delaware law, its corporate
existence ceased.  The corporation has three years to liquidate
its assets, prosecute and defend suits, satisfy or provide for its
liabilities, including contingent liabilities, to the extent of
the corporation's assets, and distribute the net proceeds or the
assets in kind, if any, to its stockholders.  During this time
period, the corporation must cease to carry on the business for
which it was established, except as may be necessary or incidental
to the winding up of the corporation's affairs.

The Company expects that it could take a couple of years for the
Company to complete its plan of dissolution and make final
liquidating distributions to its stockholders.


CRYOPORT INC: Files Form S-1 to Register Add'l 14-Mil. Shares
-------------------------------------------------------------
Cryoport, Inc., filed an amended Form S-1 relating to the offer
for sale by existing holders of its common stock of 5,532,418
shares of its common stock, par value $0.001 per share, currently
outstanding and up to an additional 6,755,293 shares of common
stock issuable upon exercise of the warrants held by the selling
security holders.

Cryoport will not receive any proceeds from the sales of shares of
common stock by the selling security holders.

Cryoport disclosed that its common stock is currently traded on
the Over-The-Counter Bulletin Board, commonly known as the OTC
Bulletin Board, under the symbol "CYRX."  As of December 23, 2010,
the closing sale price of the Company's common stock was $0.55 per
share.

Total shares outstanding will increase to 20,437,966 following the
offering.

                        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.

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.


DAIS ANALYTIC: Leonard Samuels Discloses 27.66% Equity Stake
------------------------------------------------------------
In a Schedule 13D filing with the Securities and Exchange
Commission on December 27, 2010, Leonard Edward Samuels disclosed
that he beneficially owns 9,848,162 shares of common stock of Dais
Analytic Corporation, representing 27.66% of the shares
outstanding.  Leah Kaplan-Samuels beneficially owns 3,629,696
shares.  There were 30,609,793 shares of the Company's $0.01 par
value common stock outstanding as of November 12, 2010.

On December 11, 2007, December 20, 2007, December 31, 2007 and
January 21, 2008, the Company entered into Subscription Agreements
with the Reporting Persons as JTWROS.

Pursuant to each such Subscription Agreement, the Company issued a
Secured Convertible Promissory Note to Reporting Persons as JTWROS
in the face amount of $50,000, $50,000, $50,000 and $25,000,
respectively.  The holder of each such Note had the right to elect
to convert the principal amount and accrued interest on the Note
at any time into shares of Common Stock at a price of $0.20 per
share.

As further consideration, on December 11, 2007, December 20, 2007,
December 31, 2007 and January 21, 2008, the Company issued to
Reporting Persons as JTWROS warrants for the purchase, at any time
on or before that date occurring five years following date of
issuance of the warrant, 250,000, 250,000, 250,000 and 125,000
shares of Common Stock; respectively, at an exercise price of
$0.25 per share.

If the closing price of the Common Stock on the principal market
or exchange on which the Common Stock is traded is at least $1.50
for ten consecutive trading days, the Company can compel exercise
of all or any of the 2007/2008 Warrants.

On December 11, 2007, December 20, 2007, December 31, 2007 and
January 21, 2008, the Company entered into Registration Rights
Agreements with reporting Persons as JTWROS pursuant to which the
Issuer agreed to register for resale under the Securities Act of
1933, as amended, the Common Stock issuable upon the conversion of
the Notes and the exercise of the Warrants.

On January 9, 2009, the Company registered its Common Stock under
Section 12(g) of the Exchange Act.

                        About Dais Analytic

Odessa, Fla.-based Dais Analytic Corporation has developed and
patented a nano-structure polymer technology, which is being
commercialized in products based on the functionality of these
materials.  The initial product focus of the Company is ConsERV,
an energy recovery ventilator.  The Company also has new product
applications in various developmental stages.

The Company's balance sheet as of September 30, 2010, showed
$1.7 million in total assets, $5.1 million in total liabilities,
and a stockholders' deficit of $3.4 million.

As reported in the Troubled Company Reporter on April 7, 2010,
Cross, Fernandez & Riley LLP, in Tampa, 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 that the Company has incurred
significant losses since inception and has a working capital
deficit and accumulated deficit of $2.3 million and $32.2 million
at December 31, 2009.


DARRYL EASON: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Darryl W. Eason
        26677 W. 12 Mile Rd.
        Southfield, MI 48034

Bankruptcy Case No.: 10-78286

Chapter 11 Petition Date: December 23, 2010

Court: United States Bankruptcy Court
       Eastern District of Michigan (Detroit)

Judge: Thomas J. Tucker

Debtor's Counsel: Leon A. Gant, Esq.
                  GANT & TAYLOR, P.L.C.
                  65 Cadillac Square, Suite 2100
                  Detroit, MI 48226
                  Tel: (313) 964-9900
                  E-mail: lagant2@yahoo.com

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

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

A list of the Debtor's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/mieb10-78286.pdf


DAVID BIRON: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: David Biron Corporation
         dba Big Break Marina
         aka David A. Biron Corporation
        5653 Drakes Dr.
        Discovery Bay, CA 94505

Bankruptcy Case No.: 10-74625

Chapter 11 Petition Date: December 22, 2010

Court: United States Bankruptcy Court
       Northern District of California (Oakland)

Judge: Edward D. Jellen

Debtor's Counsel: Mark A. McLaughlin, Esq.
                  LAW OFFICES OF MCLAUGHLIN AND WILDMAN
                  3012 Lone Tree Way #300
                  Antioch, CA 94509
                  Tel: (925) 754-2622
                  E-mail: nmclaug226@sbcglobal.net

Scheduled Assets: $4,524,136

Scheduled Debts: $2,111,047

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

The petition was signed by David Biron, president.


DAVID REAMER: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Joint Debtors: David A Reamer
               Elvajean Reamer
               8440 Quail Run Rd.
               Wesley Chapel, FL 33544

Bankruptcy Case No.: 10-30351

Chapter 11 Petition Date: December 22, 2010

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

Judge: Caryl E. Delano

Debtor's Counsel: Suzy Tate, Esq.
                  JENNIS & BOWEN, PL
                  400 North Ashley Drive, Suite 2540
                  Tampa, FL 33602
                  Tel: (813) 229-1700
                  Fax: (813) 229-1707
                  E-mail: ecf@jennisbowen.com

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

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

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/flmb10-30351.pdf


DEX MEDIA WEST: Bank Debt Trades at 9% Off in Secondary Market
--------------------------------------------------------------
Participations in a syndicated loan under which Dex Media West LLC
is a borrower traded in the secondary market at 90.84 cents-on-
the-dollar during the week ended Friday, December 31, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 0.43
percentage points from the previous week, The Journal relates.
The Company pays 450 basis points above LIBOR to borrow under the
facility.  The bank loan matures on October 24, 2014, and is not
rated.  The loan is one of the biggest gainers and losers among
187 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.

About Dex Media West

Dex Media West LLC is a subsidiary of Dex Media West, Inc., and an
indirect wholly owned subsidiary of Dex Media, Inc.  Dex Media is
a direct wholly owned subsidiary of R.H. Donnelley Corporation.
Dex Media West is the exclusive publisher of the official yellow
pages and white pages directories for Qwest Corporation, the local
exchange carrier of Qwest Communications International Inc., in
Arizona, Idaho, Montana, Oregon, Utah, Washington, and Wyoming.

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


DIABETES AMERICA: Taps Healthcare Markets as Financial Advisor
--------------------------------------------------------------
Diabetes America, Inc., asks for authorization from the U.S.
Bankruptcy Court for the Southern District of Texas to employ
Healthcare Markets Group as financial advisor and to designate the
firm's Monte B. Tucker as chief restructuring officer.

Healthcare Markets will, among other things:

     a. direct the cash management and treasury functions of the
        Debtor and affiliates, including but not limited to
        development/maintenance of short-term weekly case use
        budgets, disbursement of cash and managing overall
        liquidity;

     b. assist the Debtor and CRO develop overall strategic and
        business plans, including, but not limited to, analyzing
        alternative plans and exit strategies, and evaluation of
        the possible rejection of any executory contracts and
        unexpired leases;

     c. assist in the evaluation and analysis of avoidance
        actions, including fraudulent and preferential transfers;
        and

     d. analyze creditor claims.

Healthcare Markets will be paid based on these rates:

        Francis J. Curry              $275
        Monte B. Tucker               $275

Monte B. Tucker, managing director of HealthCare Markets, assures
the Court that the firm is a "disinterested person" as that term
defined in Section 101(14) of the Bankruptcy Code.

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.


DINO DEANGELIS: Case Summary & 15 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Dino A. DeAngelis
        5012 Stonewick Court
        Plano, TX 75093

Bankruptcy Case No.: 10-44421

Chapter 11 Petition Date: December 27, 2010

Court: U.S. Bankruptcy Court
       Eastern District of Texas (Sherman)

Debtor's Counsel: Joyce W. Lindauer, Esq.
                  JOYCE LINDAUER, ATTORNEY AT LAW
                  8140 Walnut Hill Lane, Suite 301
                  Dallas, TX 75231
                  Tel: (972) 503-4033
                  Fax: (972) 503-4034
                  E-mail: courts@joycelindauer.com

Scheduled Assets: $955,825

Scheduled Debts: $1,495,246

A list of the Debtor's 15 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/txeb10-44421.pdf


EMISPHERE TECH: MHR Entities Disclose 43.9% Equity Stake
--------------------------------------------------------
In an amended Schedule 13D filing with the Securities and Exchange
Commission on December 22, 2010, Mark H. Rachesky, M.D. disclosed
that he beneficially owns 29,532,831 shares of Emisphere
Technologies, Inc. common stock representing 43.9% of the shares
outstanding.

Other affiliates of Mr. Rachesky also disclosed beneficial
ownership of securities:

                                              Shares      Equity
                                       Beneficially Owned Stake
                                       ------------------ ------
MHR Capital Partners Master Account LP     8,400,626     15.2%
MHR Advisors LLC                           9,545,619     17.1%
MHR Institutional Partners II LP           5,641,147     10.2%
MHR Institutional Partners IIA LP         14,211,767     23.7%
MHR Institutional Advisors II LLC         19,852,914     31.4%
MHR Fund Management LLC                   29,398,533     43.8%
Mark H. Rachesky, M.D.                    29,532,831     43.9%

The number of shares of the Company's common stock, $.01 par
value, outstanding as of November 1, 2010 was 51,889,102.

In connection with that certain Development and License Agreement
entered into on December 20, 2010 between Emisphere Technologies,
Inc. and Novo Nordisk A/S, a Danish corporation, as further
described in the Company's Current Report on Form 8-K, filed with
the Securities and Exchange Commission on December 21, 2010,
Master Account, Capital Partners (100), Institutional Partners II
and Institutional Partners IIA entered into an agreement with Novo
and the Company, dated December 20, 2010 relating to a Development
and License Agreement dated June 21, 2008 by and between the
Company and Novo and the Insulin License Agreement.

Pursuant to the Agreement, and under the circumstances and subject
to the conditions described therein, among other things (i) MHR
agreed, upon the occurrence of an event of default under the Loan
Agreement and the Security Agreement, to forbear from the exercise
of certain royalty-free license rights granted to MHR as a secured
party by the Company with respect to certain intellectual property
licensed to Novo by the Company under the Novo License Agreements
and (ii) if MHR exercises its rights under the Loan Agreement and
the Security Agreement to foreclose on certain patents owned by
the Company and licensed to Novo under the Novo License
Agreements, MHR, Novo and the Issuer agree to negotiate in good
faith to enter into a license agreement with respect to the
foreclosed patents on the terms described in the Agreement.  Novo
required that the execution by MHR of the Agreement be a condition
to Novo's execution of, and the effectiveness of, the Insulin
License Agreement.

                   About Emisphere Technologies

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

Since its inception in 1986, Emisphere has generated significant
losses from operations.  Emisphere anticipates it will continue to
generate significant losses from operations for the foreseeable
future, and that its business will require substantial additional
investment that it has not yet secured.

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


ENERJEX RESOURCES: CEO & Chairman Resigns; Separation Deal Signed
-----------------------------------------------------------------
On December 20, 2010, Enerjex Resources Inc. and C. Stephen
Cochennet entered into a Separation and Settlement Agreement to be
effective as of December 31, 2010.  The Company agreed to issue C.
Stephen Cochennet 75,000 shares of restricted common stock for his
fiscal 2009 bonus.  The shares issued were issued pursuant to the
EnerJex Resources Stock Incentive Plan and registered on the Form
S-8 filed on October 20, 2008.

On December 20, 2010, the Company agreed to issue:

     i) 250,000 shares of restricted common stock to Loren Moll
        for services as a director and committee member,

    ii) 250,000 shares of restricted common stock to Tom Kmak for
        services as a director and committee member, and

   iii) 100,000 shares of restricted common stock to Darrel Palmer
        for services as a director.

The Company said it believes that the issuance of the shares was
exempt from the registration and prospectus delivery requirements
of the Securities Act of 1933, as amended, by virtue of Section
4(2) thereof.

                  Stephen Cochennet's Resignation

On December 20, 2010, in accordance with the terms of the
Separation Agreement, C. Stephen Cochennet, Chairman, Chief
Executive Officer, Principal Financial Officer, President,
Secretary and Treasurer, resigned from his employment and all
positions that he holds with the Registrant effective December 31,
2010.  Mr. Cochennet was a named executive officer of the Company
for the fiscal year ended March 31, 2010 and is currently the
Company's sole officer.

Pursuant to the Separation Agreement, the Company agreed:

     i) to terminate the employment agreement with Mr. Cochennet
        dated August 1, 2008 effective as of December 31, 2010 and
        eliminate the Non-Compete provisions of the employment
        agreement,

    ii) that Mr. Cochennet would resign as a director, employee
        and officer, effective as of December 31, 2010,

   iii) to pay Mr. Cochennet his accrued salary in the amount of
        $16,667 on or before December 31, 2010,

    iv) to pay Mr. Cochennet $50,000 as severance and in
        consideration for the termination of his employment with
        the Company,

    v) issue Mr. Cochennet's fiscal 2009 restricted stock bonus of
       75,000 shares,

   vi) transfer title, and pay all taxes, fees and expenses
       related thereto, to the automobile and certain other assets
       Mr. Cochennet was utilizing in connection with the
       Company's business, and

  vii) to mutually release each other party from any and all
       claims related to the subject matter of the Separation
       Agreement.

A full-text copy of the Separation And Settlement Agreement is
available for free at http://ResearchArchives.com/t/s?7187

                       About EnerJex Resources

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

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

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


FAULCONER PRODUCTIONS: Case Summary & Creditors List
----------------------------------------------------
Debtor: Faulconer Productions Music Corporation
          dba Cakemix Recording
              CD Underscore
              Your New House Radio
              Red Truck Creative
        17817 Davenport Road, Suite 110
        Dallas, TX 75252

Bankruptcy Case No.: 10-44418

Chapter 11 Petition Date: December 23, 2010

Court: U.S. Bankruptcy Court
       Eastern District of Texas (Sherman)

Debtor's Counsel: Joyce W. Lindauer, Esq.
                  JOYCE LINDAUER, ATTORNEY AT LAW
                  8140 Walnut Hill Lane, Suite 301
                  Dallas, TX 75231
                  Tel: (972) 503-4033
                  Fax: (972) 503-4034
                  E-mail: courts@joycelindauer.com

Scheduled Assets: $52,858

Scheduled Debts: $1,007,456

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/txeb10-44418.pdf

The petition was signed by Bruce Faulconer, president.


GAMETECH INT'L: To Recognize $2.8MM Impairment for Corporate HQ
---------------------------------------------------------------
On September 15, 2010, GameTech International Inc. filed a Form
12b-25 disclosing its inability to timely file its Form 10-Q for
the period ended August 1, 2010, primarily due to efforts required
to complete its assessment of an expected non-cash impairment of
goodwill and long-lived assets relating to its bingo reporting
unit and an expected non-cash impairment of intangible assets
relating to both its bingo and VLT/Slot reporting units.

On December 22, 2010, the Company completed this assessment and
determined that it expects to recognize a non-cash impairment
charge for the period ending August 1, 2010 of approximately
$2.822 million relating to its corporate headquarters.

The Company also expects to write down $180,000, representing the
total carrying amount of the debt acquisition costs related to the
mortgage on the corporate headquarters.  Other than as disclosed,
the Company does not expect to recognize an impairment charge on
any of its assets for the period ended August 1, 2010.

                   About GameTech International

Based in Reno, Nevada, GameTech develops and manufactures gaming
entertainment products and systems.  GameTech holds a significant
position in the North American bingo market with its interactive
electronic bingo systems, portable and fixed-based gaming units,
and complete hall management modules.  It also holds a significant
position in select North American VLT markets, primarily Montana,
Louisiana, and South Dakota, where it offers video lottery
terminals and related gaming equipment and software.  It also
offers Class III slot machines and server-based gaming systems.

According to the Troubled Company Report on November 4, 2010, the
Company received a letter from the Lender stating that the
forbearance period under the Company's line of credit expired on
October 31, 2010.  The letter further states that the Lender has
the immediate right to commence action against the Company,
enforce the payment of the note under the line of credit, commence
foreclosure proceedings under certain loan documents, and
otherwise enforce its rights and remedies against the Company.

While the Company continues to actively engage in discussions with
the Lender and is optimistic a resolution can be reached, there
can be no assurance that the Company will be able to further
extend the forbearance period, obtain waivers or reach a
satisfactory agreement with the Lender in a timely manner.

As of November 9, the Company has approximately $1.3 million
outstanding under the Line of Credit.  The outstanding balance
under the Company's Line of Credit is subject to the non-default
rate of 4.25%.


GARY PHILLIPS: Has Interim Access to Bank's Cash Collateral
-----------------------------------------------------------
The Hon. Marcia Phillips Parsons of the U.S. Bankruptcy Court for
the Eastern District of Tennessee approved the the temporary
agreed order authorizing, on an interim basis, Gary Phillips
Construction, LLC, to use property in the nature of cash
collateral.

The Debtor would use the cash collateral to fund its Chapter 11
case, pay suppliers and other parties.

A further hearing will be held on January 18, 2011, at 2:00 p.m.,
to consider the Debtor's request for cash collateral use.

As reported in the Troubled Company Reporter on December 23, 2010,
the Debtor, along with Gary and Karla Phillips, is a co-maker and
guarantor on notes with:
                                          Approximate
                                        Amount of Claim
                                        ---------------
  a. Citizens Bank                         $2,250,509
  b. Commercial Bank                         $406,632
  c. First Bank & Trust                      $815,176
  d. First Tennessee Bank                    $363,229
  e. Regions Bank                          $2,447,180
  f. Tri-Summit Bank                       $1,269,900
  g. TruPoint Bank                         $1,050,033

The banks claim a security interest in certain receivables,
personal property and real properties of the Debtor.

As adequate protection for any diminution in value of the lenders'
collateral, the Debtors will grant the banks replacement liens on
all assets of the estate.

The Debtor will also maintain insurance coverage on all property
of the estate, Workmen's Compensation Insurance and General
Commercial Liability Insurance in a form and amount acceptable to
the banks and the U.S. Trustee.

               About Gary Phillips Construction, LLC

Piney Flats, Tennessee-based Gary Phillips Construction, LLC,
filed for Chapter 11 bankruptcy protection on December 3, 2010
(Bankr. E.D. Tenn. Case No. 10-53097).  Fred M. Leonard, Esq., who
has an office in Bristol, Tennessee, serves as the Debtor's
counsel.  According to its schedule, the Debtor disclosed
$13,255,698 in total assets and $7,614,399 in total debts as of
the Petition Date.



GREAT ATLANTIC & PACIFIC: $350MM Loan Rises in Initial Trading
--------------------------------------------------------------
The Great Atlantic & Pacific Tea Co.'s $350 million term loan
began trading on December 22, 2010, above issue price, according
to a report by Bloomberg News.

The so-called debtor-in-possession financing, sold to investors
at 99 cents on the dollar, rose to 101 cents on December 23,
2010, Bloomberg News reported, citing information provider Markit
Group Ltd.

The loan, which was arranged by JPMorgan Chase & Co., will pay
seven percentage points more than the London interbank offered
rate on the loan.  Libor, the rate banks charge to lend to each
other, has a 1.75 percent floor, according to the report.

Lenders received one-year soft-call protection of 101 cents,
which means A&P would have to pay a one cent premium over face
value to refinance the debt during its first year, Bloomberg News
reported.

                            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 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: Proposes Kirkland as Legal Counsel
------------------------------------------------------------
The Great Atlantic & Pacific Tea Company, Inc., and its affiliates
seek the U.S. Bankruptcy Court for the Southern District of New
York's authority to employ Kirkland & Ellis LLP as their legal
counsel effective December 12, 2010.

The Debtors tapped the services of Kirkland & Ellis because of
its expertise and experience in the field of debtors'
protections, creditors' rights and business reorganizations under
Chapter 11 of the Bankruptcy Code, according to Frederic Brace,
chief restructuring officer of The Great Atlantic & Pacific Tea
Company Inc.

As legal counsel, Kirkland & Ellis is tasked to provide these
services:

  (1) advising the Debtors with respect to their powers and
      duties as debtors-in-possession in the continued
      management and operation of their businesses and
      properties;

  (2) advising and consulting on the conduct of the Chapter 11
      cases, including all legal and administrative requirements
      of operating in Chapter 11;

  (3) attending meetings and negotiating with representatives of
      creditors and other concerned parties;

  (4) taking all necessary actions to protect and preserve the
      Debtors' estates;

  (5) preparing pleadings in connection with the Debtors' cases;

  (6) representing the Debtors in connection with obtaining
      authority to enter into a postpetition financing facility;

  (7) advising the Debtors in connection with any potential sale
      of assets;

  (8) appearing before the Court and any appellate courts to
      represent the interests of the Debtors' estates;

  (9) advising the Debtors regarding tax matters;

(10) taking any necessary action on behalf of the Debtors to
      negotiate, prepare and obtain approval of a disclosure
      statement and confirmation of a Chapter 11 plan and all
      related documents; and

(11) performing all other necessary legal services in
      connection with the prosecution of their bankruptcy cases.

In exchange for its services, Kirkland & Ellis will be paid on an
hourly basis and will be reimbursed for its expenses.  The firm's
hourly rates are:

  Professionals               Hourly Rates
  -------------               ------------
  Partners                    $580 - $995
  Counsel                     $420 - $995
  Associates                  $340 - $670
  Paraprofessionals           $130 - $285

The professionals expected to have primary responsibility for
providing services to the Debtors and their hourly rates are:

  Professionals               Hourly Rates
  -------------               ------------
  James H.M. Sprayregen P.C.     $995
  Paul Basta                     $955
  Ray Schrock                    $785
  James Mazza                    $690

In a declaration, Mr. Basta, Esq., a partner at Kirkland & Ellis,
says that his firm does not hold or represent interest adverse to
the Debtors' estates and that it is a "disinterested person"
under Section 101(14) of the Bankruptcy Code.

                            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 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: Proposes Huron as Financial Advisor
-------------------------------------------------------------
The Great Atlantic & Pacific Tea Company, Inc., and its affiliates
seek the U.S. Bankruptcy Court for the Southern District of New
York's approval to employ Huron Consulting Services LLC as their
financial advisor effective December 12, 2010.

Huron Consulting is a national management consulting firm with
practices in diverse industries, and experience assisting and
advising companies in need of financial and operational
turnaround and workout assistance, both in and out of court.

"Huron's relevant experience and expertise vis-a-vis the Debtors'
uniquely positions Huron to provide effective and efficient
services in these Chapter 11 cases," says Frederic Brace, chief
restructuring officer of The Great Atlantic & Pacific Tea Company
Inc.

As financial advisor, Huron Consulting is tasked to:

  (1) assist management in addressing internal process matters,
      including accounting system cut-offs relating to the
      restructuring;

  (2) assist the Debtors in preparing for a filing under Chapter
      11 of the Bankruptcy Code and with the required "first
      day" papers and coordinating and providing administrative
      support for the proceeding;

  (3) provide testimony before the Bankruptcy Court or any court
      having jurisdiction over any Chapter 11 proceeding
      undertaken by the Debtors;

  (4) assist in obtaining and presenting information required by
      internal or external parties in the Debtors'
      restructuring;

  (5) prepare a liquidation analysis and assist in preparing
      schedules of assets and liabilities, statements of
      financial affairs, and monthly operating reports; and

  (6) assist management in financial reporting matters related
      to the restructuring.

Huron Consulting will be paid on an hourly basis and will be
reimbursed for its expenses.  The firm's hourly rates are:

  Professionals               Hourly Rates
  -------------               ------------
  Managing Directors              $700
  Directors                       $575
  Managers                        $425
  Associates                      $335

The Debtors also agreed to indemnify Huron Consulting for claims,
losses and damages arising out of or in connection with the
services to be provided by the firm.

In a declaration, Hugh Sawyer, managing director of Huron
Consulting, assures the Court that the firm does not have
interest adverse to the Debtors' estate, their creditors and
equity security holders, and that the firm is a "disinterested
person" under Section 101(14) of the Bankruptcy Code.

                            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 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: Proposes Lazard as Investment Banker
--------------------------------------------------------------
The Great Atlantic & Pacific Tea Company, Inc., and its affiliates
seek the U.S. Bankruptcy Court for the Southern District of New
York's authority to employ Lazard Freres & Co. LLC as their
investment banker effective December 12, 2010.

As investment banker, Lazard Freres is tasked to:

  (1) review and analyze the Debtors' business, operations and
      financial projections;

  (2) evaluate the Debtors' potential debt capacity in light of
      its projected cash flows;

  (3) assist in determining the capital structure for the
      Debtors;

  (4) assist in determining the range of values for Debtors on a
      going concern basis;

  (5) advise the Debtors on tactics and strategies for
      negotiating with stakeholders;

  (6) render financial advice to the Debtors and participate in
      meetings or negotiations with stakeholders, rating
      agencies or other appropriate parties in connection with
      any restructuring;

  (7) advise the Debtors on the timing, nature, and terms of new
      securities, other consideration or other inducements to be
      offered pursuant to restructuring;

  (8) assist the Debtors in preparing documentation within
      Lazard Freres' area of expertise that is required in
      connection with the restructuring;

  (9) attend meetings of the Board of Directors of The Great
      Atlantic & Pacific Tea Company Inc. with respect to
      Matters on which Lazard Freres has been engaged to advise;

(10) providing testimony, as necessary, with respect to matters
      on which Lazard Freres has been engaged to advise in any
      proceeding before the Court; and

(11) provide the Debtors with other financial restructuring
      advice and services as requested by the Debtors.

In return for its services, Lazard Freres will receive a monthly
fee of $200,000 in cash payable on the first day of each month
until the earlier of the completion of the restructuring or the
termination of the firm's employment.  The firm will also receive
a fee equal to $7.5 million payable upon consummation of a
restructuring and an additional fee of up to $2.5 million in the
Debtors' sole discretion.

One half of the monthly fees paid in respect of any months
following the twelfth month of Lazard Freres' employment will be
credited against any restructuring fee payable, provided that the
credit will only apply to the extent that those fees are approved
in entirety by the Court.

In a declaration, David Kurtz, managing director of Lazard
Freres, assures the Court that the firm is disinterested and does
not hold or represent interest materially adverse to the Debtors
or their estates.

                            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 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).


GSI GROUP: 1 for 3 Reverse Stock Split Already Effective
--------------------------------------------------------
GSI Group Inc. disclosed that the 1 for 3 reverse stock split
previously approved by the company's Board of Directors and
shareholders became effective.  Following the reverse stock split,
the Company has approximately 33.3 million common shares issued
and outstanding.  The Company's common shares will trade under the
symbol "LASRD.PK" for the next 20 days and will revert to
"LASR.PK" thereafter.  The Company also announced that it has
filed an application to list its common shares on the NASDAQ
Global Market and currently expects that NASDAQ will make a
decision on the Company's application by the end of January 2011.
The Company's common shares will continue to be quoted on Pink OTC
Markets Inc. until such time as the shares may be listed on the
NASDAQ Global Market, if the Company's application is approved by
NASDAQ, or another securities exchange.

                       About GSI Group Inc.

Headquartered in Bedford, Massachusetts, GSI Group Inc.
-- http://www.gsig.com/-- supplies precision technology to the
global medical, electronics, and industrial markets and
semiconductor systems.  GSI Group Inc.'s common shares are quoted
on Pink Sheets OTC Markets Inc. (LASR.PK).

GSI Group together with two of its subsidiaries filed for
Chapter 11 protection on Nov. 20, 2009 (Bankr. D. Del. Lead Case
No. 09-14110).  William R. Baldiga, Esq., at Brown Rudnick LLP,
represented the Debtors as lead counsel.  Mark Minuti, Esq., at
Saul Ewing LLP, represented the Debtors as its local counsel.  On
July 23, 2010, the Debtors consummated their reorganization
through a series of transactions contemplated by a Chapter 11
plan.   The Company's shareholders prior to the emergence from
bankruptcy retained approximately 86.1% of its capital stock
following emergence.

                           *     *     *

In November 2010, Standard & Poor's Ratings Services said that it
has affirmed its ratings, including the 'B' corporate credit
rating, on Assumption, Ill.-based GSI Group LLC.  At the same
time, S&P revised the outlook to stable from negative.

S&P said the ratings on GSI reflect the company's highly leveraged
financial profile, which more than offsets its weak business risk
profile.  GSI operates in cyclical and competitive niche
agricultural equipment markets and faces raw material cost
volatility.  The company's leading position in its niche markets
partially offsets these factors.  S&P expects its operating
performance to continue to recover in 2011, primarily on better
conditions in its end markets.


GUITAR CENTER: Bank Debt Trades at 8% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which Guitar Center,
Inc., is a borrower traded in the secondary market at 92.16 cents-
on-the-dollar during the week ended Friday, December 31, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 0.39
percentage points from the previous week, The Journal relates.
The Company pays 350 basis points above LIBOR to borrow under the
facility.  The bank loan matures on October 9, 2014, and carries
Moody's Caa1 rating and Standard & Poor's B1 rating.  The loan is
one of the biggest gainers and losers among 187 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

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

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


HALF MOON BAY: Warns of Budget Cuts as Insolvency Looms
-------------------------------------------------------
The Wall Street Journal's Bobby White reports that Half Moon Bay,
in California, this month will begin an aggressive campaign to
warn residents of severe budget cuts that lie ahead, as the cash-
strapped town tries to avert insolvency.

According to the Journal, Laura Snideman, appointed earlier in
December as Half Moon Bay's city manager, says she and the five-
member city council and top managers will meet in the next few
weeks with residents to alert them about impending changes, such
as potentially outsourcing the town's 15-person police department
to an outside agency.

According to the Journal, city leaders say they expect to reach an
agreement on the necessary cuts.  But if they are unsuccessful,
Half Moon Bay faces the prospect of a bankruptcy declaration, or
even of disincorporation, effectively turning over governance of
the city to the county.  Neither step would rid the city of debt
payments, which residents would continue to be obligated to pay.

The Journal says Half Moon Bay faces a $500,000 budget deficit for
the current year ending July 30, down from the previous year's
$3.4 million budget gap.  Since 2007, total city revenue including
sales and property taxes has fallen 14% to about $9 million.  Debt
payments from the legal settlement, which total about $1.1 million
annually, have further dragged down the budget.

The Journal relates Half Moon Bay's problems partly stem from a
legal settlement over a real-estate transaction in 2007, when the
city agreed to pay $18 million, twice its annual budget of
$9 million.  The settlement stemmed from a fight the city waged
with a Palo Alto-based developer over a 25-acre patch of land that
was under development for 83 homes, which city leaders blocked by
declaring the area protected wetlands.  To satisfy the judgment,
the city sold $15 million of bonds and paid $3 million from its
annual budget in 2008.  The moves prompted leaders to go on a
cost-cutting spree, which accelerated when the economy soured.


HARRAH'S ENTERTAINMENT: HOC Bank Debt Trades at 104.95%
-------------------------------------------------------
Participations in a syndicated loan under which Harrah's Operating
Company, Inc., is a borrower traded in the secondary market at
104.95 cents-on-the-dollar during the week ended Friday,
December 31, 2010, according to data compiled by Loan Pricing
Corp. and reported in The Wall Street Journal.  This represents an
increase of 0.34 percentage points from the previous week, The
Journal relates.  The Company pays 750 basis points above LIBOR to
borrow under the facility.  The bank loan matures on October 23,
2016, and carries Moody's Caa1 rating and Standard & Poor's B
rating.  The loan is one of the biggest gainers and losers among
187 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.

                   About Harrah's Entertainment

Las Vegas, Nevada-based Harrah's Entertainment, Inc. --
http://www.harrahs.com/-- through its wholly owned subsidiary,
Harrah's Operating Company, Inc., operates nearly 40 casinos
across the United States, primarily under the Harrah's(R),
Caesars(R) and Horseshoe(R) brand names; Harrah's also owns the
London Clubs International family of casinos and the World Series
of Poker(R).  Private equity firms Apollo Global Management and
TPG Capital LP acquired Harrah's in January for $31 billion.

The Company's balance sheet at Sept. 30, 2010, showed
$29.28 billion in total assets, $28.22 billion in total
liabilities, and stockholders' equity of $1.06 billion.

Harrah's Entertainment reported a net loss of $164.8 million on
$2.29 billion of net revenues for the quarter ended September 30,
2010, compared with a net loss of $1.71 billion on $2.29 billion
of net revenues for the same period a year ago.

Harrah's carries 'Caa3' corporate family and probability of
default ratings, with "positive outlook", from Moody's Investors
Service.  It has 'B-' issuer credit ratings, with "stable"
outlook, from Standard & Poor's.


HAWKER BEECHCRAFT: Bank Debt Trades at 13% Off in Secondary Market
------------------------------------------------------------------
Participations in a syndicated loan under which Hawker Beechcraft
is a borrower traded in the secondary market at 87.32 cents-on-
the-dollar during the week ended Friday, December 31, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents a drop of 0.53
percentage points from the previous week, The Journal relates.
The Company pays 200 basis points above LIBOR to borrow under the
facility.  The bank loan matures on March 26, 2014, and carries
Moody's Caa1 rating and Standard & Poor's CCC+ rating.  The loan
is one of the biggest gainers and losers among 187 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.


                        About Hawker Beechcraft

Hawker Beechcraft Acquisition Company, LLC, headquartered in
Wichita, Kansas, is a leading manufacturer of business jets,
turboprops and piston aircraft for corporations, governments and
individuals worldwide.

Hawker Beechcraft Acquisition Company LLC reported net sales for
the three months ended September 30, 2010, of $594.7 million, a
decrease of $163.0 million compared to the third quarter of 2009.
During the three months ended September 30, 2010, the Company
recorded an operating loss of $81.4 million, compared to an
operating loss of $721.1 million during the comparable period in
2009.  The improved operating loss versus the prior period was
primarily due to charges of $581.5 million related to asset
impairments recorded during the three months ended September 27,
2009.

The Company's balance sheet at June 27, 2010, showed
$3.420 billion in total assets, $3.408 billion in total
liabilities, and stockholders' equity of $11.6 million.

Hawker Beechcraft reported a net loss of $56.8 million on
$639.3 million of total sales for the three months ended June 27,
2010, compared with net income of $172.2 million on $816.3 million
of sales for the three months ended June 28, 2009.

Hawker Beechcraft carries 'Caa2' corporate family and probability
of default ratings from Moody's Investors Service.


HCA INC: Bank Debt Trades at 1% Off in Secondary Market
-------------------------------------------------------
Participations in a syndicated loan under which HCA, Inc., is a
borrower traded in the secondary market at 98.95 cents-on-the-
dollar during the week ended Friday, December 31, 2010, according
to data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 0.42 percentage
points from the previous week, The Journal relates.  The Company
pays 225 basis points above LIBOR to borrow under the facility.
The bank loan matures on November 6, 2013, and carries Moody's Ba3
rating and Standard & Poor's BB rating.  The loan is one of the
biggest gainers and losers among 187 widely quoted syndicated
loans with five or more bids in secondary trading for the week
ended Friday.

As reported by the Troubled Company Reporter on November 12, 2010,
Moody's Investors Service assigned a Caa1 (LGD6, 96%) rating to
HCA, Inc.'s proposed offering of $1,525 million of senior
unsecured notes due 2021 to be issued at a parent holding company.
Moody's understand the proceeds will be used to help fund a
proposed $2.0 billion distribution to shareholders.  Concurrently,
Moody's confirmed the existing ratings of HCA, including the B2
Corporate Family and Probability of Default Ratings.  These
actions conclude the review of the ratings initiated on May 7,
2010.  The ratings outlook has been revised to positive.

HCA, Inc., filed its quarterly report on Form 10-Q, reporting net
income of $325.0 million on $7.65 billion of revenues for the
quarter ended Sept. 30, 2010, compared with net income of
$274.0 million on $7.53 billion of revenues for the same period a
year ago.

The Company's balance sheet at Sept. 30, 2010, showed
$23.25 billion in total assets, $4.33 billion in total current
liabilities, $25.38 billion in long-term debt, $1.03 billion in
professional liability risks, $1.61 billion in income taxes and
other liabilities, and a stockholders' deficit of $9.24 billion.

Headquartered in Nashville, Tennessee, HCA is the nation's largest
acute care hospital company with 162 hospitals and 104
freestanding surgery centers (including eight hospitals and eight
freestanding surgery centers that are accounted for using the
equity method) as of September 30, 2010.  For the twelve months
ended September 30, 2010, the company recognized revenue in excess
of $30 billion.


HERBST GAMING: Bank Debt Trades at 40% Off in Secondary Market
--------------------------------------------------------------
Participations in a syndicated loan under which Herbst Gaming,
Inc., is a borrower traded in the secondary market at 59.75 cents-
on-the-dollar during the week ended Friday, December 31, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 0.86
percentage points from the previous week, The Journal relates.
The Company pays 187.5 basis points above LIBOR to borrow under
the facility, which matures on December 8, 2013.  Moody's has
withdrawn its rating on the bank debt.  The loan is one of the
biggest gainers and losers among 187 widely quoted syndicated
loans with five or more bids in secondary trading for the week
ended Friday.

About Herbst Gaming

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

The Company and 17 of its affiliates filed for Chapter 11
protection on March 22, 2009 (Bankr. D. Nev. Lead Case No. 09-
50752).  Thomas H. Fell, Esq., and Gerald M. Gordon, Esq., at
Gordon Silver, represented the Debtors in their restructuring
effort.  Herbst Gaming had $919.1 million in total assets and
debts of $1.57 billion as of the Chapter 11 filing.  The
Bankruptcy Court issued an order on January 22, 2010, confirming
the company's amended joint plan of reorganization.  The plan
became effective February 5, 2010.


HERCULES OFFSHORE: Bank Debt Trades at 7% Off in Secondary Market
-----------------------------------------------------------------
Participations in a syndicated loan under which Hercules Offshore,
Inc., is a borrower traded in the secondary market at 93.36 cents-
on-the-dollar during the week ended Friday, December 31, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 0.44
percentage points from the previous week, The Journal relates.
The Company pays 650 basis points above LIBOR to borrow under the
facility.  The bank loan matures on July 11, 2013, and carries
Moody's Caa1 rating and Standard & Poor's B- rating.  The loan is
one of the biggest gainers and losers among 187 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

About Hercules Offshore

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.  The Company operates in six
business segments: Domestic Offshore, International Offshore,
Inland, Domestic Liftboats, International Liftboats and Delta
Towing.

The Troubled Company Reporter said on November 17, 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.


HILL COUNTRY: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Hill Country Specialty Hospital, L.L.C.
        fdba Gulf States LTAC of New Braunfels, L.L.C.
        1445 Hanz Drive, 4115 Mek Drive
        New Braunfels, TX 78130

Bankruptcy Case No.: 10-54917

Chapter 11 Petition Date: December 23, 2010

Court: United States Bankruptcy Court
       Western District of Texas (San Antonio)

Judge: Ronald B. King

Debtor's Counsel: Lynn H. Butler, Esq.
                  BROWN, MCCARROLL, LLP
                  111 Congress Avenue, Suite 1400
                  Austin, TX 78701
                  Tel: (512) 472-5456
                  Fax: (512) 479-1101
                  E-mail: lbutler@brownmccarroll.com

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

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

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/txwb10-54917.pdf

The petition was signed by Brenda K. Miles, administrator/CEO.


HOVNANIAN ENTERPRISES: Plans to Issue $500,000,000 of Securities
----------------------------------------------------------------
Hovnanian Enterprises, Inc., filed a registration statement under
Form S-3 in connection with its plans to issue an indeterminate
amount debt securities, Class A common stock, preferred stock,
preferred stock purchase rights, depositary shares, warrants,
stock purchase contracts and stock purchase units and units with
an aggregate initial offering price not to exceed $500,000,000 or
the equivalent thereof in one or more other currencies.

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

              http://ResearchArchives.com/t/s?7182

                    About Hovnanian Enterprises

Red Bank, New Jersey-based Hovnanian Enterprises, Inc. (NYSE: HOV)
-- http://www.khov.com/-- founded in 1959 by Kevork S. Hovnanian,
is one of the nation's largest homebuilders with operations in
Arizona, California, Delaware, Florida, Georgia, Illinois,
Kentucky, Maryland, Minnesota, New Jersey, New York, North
Carolina, Ohio, Pennsylvania, South Carolina, Texas, Virginia and
West Virginia.  The Company's homes are marketed and sold under
the trade names K. Hovnanian Homes, Matzel & Mumford, Brighton
Homes, Parkwood Builders, Town & Country Homes, Oster Homes and
CraftBuilt Homes.  As the developer of K. Hovnanian's Four Seasons
communities, the Company is also one of the nation's largest
builders of active adult homes.

                           *     *     *

Hovnanian has a 'CCC' issuer default rating from Fitch Ratings.
In April 2010, Fitch said, "While Fitch expects somewhat better
prospects for the housing industry this year, the Rating Outlook
for HOV remains Negative given the challenges still facing the
housing market, which are likely to meaningfully moderate the
early stages of this recovery, and the company's still substantial
debt position and high leverage."


HYSKY COMMS: District Court Rules Neighbors Law Firm Suit
---------------------------------------------------------
Senior District Judge James C. Fox lifts the stay in the action,
The Neighbors Law Firm, P.C. and Patrick E. Neighbors, v. Highland
Capital Management, L.P. and HySky Communications, LLC, Case No.
09-cv-352 (E.D.N.C.), as to defendant HySky.  On June 30, 2009,
the Plaintiffs filed an action against the Defendants in the
General Court of Justice, Superior Court Division, Wake County,
North Carolina.  On August 6, 2009, Defendants removed the action
to the District Court.  The Plaintiffs allege they rendered legal
services to the Defendants and the Defendants failed to pay for
such legal services.  The Plaintiffs seek to recover legal fees
through claims of breach of contract, common law fraud, statutory
fraud.  The District Court also issued other rulings in the suit.

A copy of the District Court's December 28, 2010 Order is
available at http://is.gd/jPtBTfrom Leagle.com.

                    About HySky Communications

Dallas, Texas-based HySky Communications, LLC, filed for Chapter
11 bankruptcy (Bankr. N.D. Tex. Case No. 09-35340) on August 13,
2009.  Judge Harlin DeWayne Hale presided over the case.  Keith
Miles Aurzada, Esq. -- keith.aurzada@bryancave.com -- at Bryan
Cave LLP, in Dallas, Texas, served as the Debtor's counsel.  In
its petition, the Debtor listed $1 million to $10 million in
assets, and $100,001 to $500,000 in debts.

HySky filed its plan of liquidation on November 30, 2009.  The
Bankruptcy Court entered an Order confirming the Chapter 11 Plan
on January 12, 2010.


HYTHIAM INC: Kelly McCrann Does Not Own Any Securities
------------------------------------------------------
In a Form 3 filing with the Securities and Exchange Commission on
December 22, 2010, Kelly J. McCrann, a director at Hythiam, Inc.,
disclosed that he does not own any securities of the company.

                        About Hythiam, Inc.

Based in Los Angeles, Hythiam, Inc., is a healthcare services
management company, providing through its Catasys(R) subsidiary
specialized behavioral health management services for substance
abuse to health plans.

The Company's balance sheet at Sept. 30, 2010, showed
$3.48 million in total assets, $4.11 million in total liabilities,
and a stockholders' deficit of $634,000.  Stockholders' deficit
was $588,000 at June 30, 2010.

As reported in the Troubled Company Reporter on April 19, 2010,
BDO Seidman, LLP, in Los Angeles, expressed substantial doubt
about the Company's ability to continue as a going concern,
following its 2009 results.  The independent auditors noted that
the Company has suffered recurring losses from operations and
negative cash flows from operating activities.


INFOLOGIX INC: Hercules Technology Holds 76.5% Equity Stake
-----------------------------------------------------------
In an amended Schedule 13D filing with the Securities and Exchange
Commission on December 22, 2010, Hercules Technology Growth
Capital, Inc., disclosed that it beneficially owns 6,561,781
shares of common stock of InfoLogix, Inc. representing 76.5% of
the shares outstanding.  Hercules Technology I, LLC also disclosed
that it beneficially owns 3,364,738 shares of common stock of
InfoLogix, Inc. representing 41.1% of the shares outstanding.

As of November 11, 2010, the Company had 6,428,694 shares of
common stock outstanding.

On June 30, 2010, InfoLogix, Inc. and its subsidiaries again
amended the Loan Agreement with Hercules Technology Growth
Capital, Inc.  Pursuant to this amendment, the Company borrowed
$1,500,000 from Hercules.  This amount was treated as an
overadvance under the Loan Agreement.  On October 28, 2010, the
Company and Hercules again amended the Loan Agreement.  Pursuant
to this Amendment, Hercules funded a term loan in an original
principal amount of $500,000 to the Company for the Company to
repay outstanding overadvances under the revolving credit facility
under the Loan Agreement and for general working capital purposes.
This amount may be converted into shares of the Common Stock at a
price of $3.30 per share at any time at Hercules' option.

On December 15, 2010, the Company entered into an Agreement and
Plan of Merger with Stanley Black & Decker, Inc., a Connecticut
corporation, and Iconic Merger Sub, Inc., a Delaware corporation
and direct wholly-owned subsidiary of Parent, providing for the
merger of Merger Sub with and into the Company, with the Company
surviving the Merger as a wholly owned subsidiary of Parent.

Immediately after the execution of the Merger Agreement, Hercules
and Hercules Technology I, LLC, holding in aggregate of
approximately 70.1% of the outstanding shares of Common Stock,
executed a written consent approving and adopting the Merger
Agreement and the transactions contemplated by the Merger
Agreement, including the Merger, pursuant to the terms of a voting
agreement entered into by and among Hercules, HTI and the Parent
simultaneously with the Merger Agreement.  No further action by
any other Company stockholder is required in connection with the
adoption of the Merger Agreement and the approval of the
transactions contemplated thereby.  The Parent did not pay
additional consideration to the Company in connection with the
execution and delivery of the Voting Agreement.

At the effective time of the Merger, each outstanding share of
Common Stock will be cancelled and converted automatically into
the right to receive $4.75 in cash, without interest.  The
transaction is valued at approximately $61.2 million prior to
transaction fees, closing costs, and working capital adjustments,
and includes the purchase or payoff of substantially all of the
Company's debt.

The consummation of the Merger is subject to various customary
closing conditions, including:

   (i) 20 days having elapsed from the mailing of the definitive
       information statement, with respect to the Merger
       Agreement, to the Company's stockholders in conjunction
       with the Securities Exchange Act of 1934, as amended, and
       the rules and regulations promulgated thereunder;

  (ii) the absence of a material adverse effect on the Company;

(iii) the absence of legal prohibitions on the completion of the
       Merger;

  (iv) the accuracy of the representations and warranties made by
       the Company, Parent and Merger Sub; and

   (v) the performance, in all material respects, by each of the
       Company, Parent and Merger Sub of all of its respective
       obligations, agreements and covenants under the Merger
       Agreement.

The Merger is not subject to any financing condition.  Completion
of the Merger is expected to occur early in the first quarter of
2011 although there can be no assurance the Merger will close
during the expected time frame or at all.

On December 15, 2010, in connection with the merger and pursuant
to a purchase and sale agreement with Parent and Hercules and HTI,
which together constitute the Company's majority stockholder and
senior lender, Parent is expected to purchase all of InfoLogix's
indebtedness owed to Hercules, pay cash for Hercules' warrant to
acquire shares of the Company's Common Stock, and allow for the
ability of Hercules to convert certain obligations currently
outstanding into shares of the Company's Common Stock.  Pursuant
to the merger, Hercules would plan to tender its shares in the
Company.

                          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.


IRVINE SENSORS: J. Leon Owns 103,139 Shares of Common Stock
-----------------------------------------------------------
In a Form 3 filing with the Securities and Exchange Commission on
December 27, 2010, John Leon, vice president at Irvine Sensors
Corp., disclosed that he beneficially owns 103,139 shares of
common stock of the company.  Mr. Leon has option to purchase an
aggregate of 21,816 shares of common stock:

                                        Expiration
            No. of shares                  Date
            -------------               ----------
                 696                    03/29/2014
                 700                    03/15/2015
                 420                    09/19/2015
              20,000                    08/07/2020

                       About Irvine Sensors

Headquatered in Costa Mesa, Calif., Irvine Sensors Corporation
(OTC BB: IRSN) -- http://www.irvine-sensors.com/-- is a vision
systems company engaged in the development and sale of
miniaturized infrared and electro-optical cameras, image
processors and stacked chip assemblies and sale of higher level
systems incorporating said products.  Irvine Sensors also conducts
research and development related to high density electronics,
miniaturized sensors, optical interconnection technology, high
speed network security, image processing and low-power analog and
mixed-signal integrated circuits for diverse systems applications.

The Company reported a net loss of $11.16 million on
$11.72 million of revenues for the fiscal year ended October 3,
2010, compared with a net loss of $914,700 on $11.54 million of
revenues for the fiscal year ended September 27, 2009.

The Company's balance sheet at October 3, 2010, showed
$6.32 million in total assets, $16.42 million in total
liabilities, and a stockholders' deficit of $10.10 million.

Squar, Milner, Peterson, Miranda & Williamson, LLP, in Irvine,
Calif., expressed substantial doubt about the Company's ability to
continue as a going concern.  The independent auditors noted that
as of October 3, 2010, the Company has negative working capital of
$10.1 million and a stockholders deficit of $10.1 million.


IRVINE SENSORS: Joll Balraj Does Not Own Any Securities
-------------------------------------------------------
In a Form 3 filing with the Securities and Exchange Commission on
December 27, 2010, Joll Balraj, president and CEO at Irvine
Sensors Corp., disclosed that he does not own any securities of
the company.

                       About Irvine Sensors

Headquatered in Costa Mesa, Calif., Irvine Sensors Corporation
(OTC BB: IRSN) -- http://www.irvine-sensors.com/-- is a vision
systems company engaged in the development and sale of
miniaturized infrared and electro-optical cameras, image
processors and stacked chip assemblies and sale of higher level
systems incorporating said products.  Irvine Sensors also conducts
research and development related to high density electronics,
miniaturized sensors, optical interconnection technology, high
speed network security, image processing and low-power analog and
mixed-signal integrated circuits for diverse systems applications.

The Company reported a net loss of $11.16 million on
$11.72 million of revenues for the fiscal year ended October 3,
2010, compared with a net loss of $914,700 on $11.54 million of
revenues for the fiscal year ended September 27, 2009.

The Company's balance sheet at October 3, 2010, showed
$6.32 million in total assets, $16.42 million in total
liabilities, and a stockholders' deficit of $10.10 million.

Squar, Milner, Peterson, Miranda & Williamson, LLP, in Irvine,
Calif., expressed substantial doubt about the Company's ability to
continue as a going concern.  The independent auditors noted that
as of October 3, 2010, the Company has negative working capital of
$10.1 million and a stockholders deficit of $10.1 million.


JENNIFER CONVERTIBLES: January 25 Hearing on Reorganization Plan
----------------------------------------------------------------
Jennifer Convertibles will present its plan for confirmation at a
hearing on Jan. 25, according to newsday.com.  Under terms of the
plan, largest creditor, Haining Mengnu, will own 90.1% of the
stock in exchange for $14.9 million in debt and receive 30 percent
of recoveries from a liquidating trust.  Unsecured creditors will
own 9.9 percent of the stock and 70 percent of the liquidating
trust.  Mengnu and other creditors will also receive the proceeds
from a series of notes.  Current Jennifer stockholders would be
wiped out.  The creditors' committee recommends that creditors
vote yes on the Plan.

                    About Jennifer Convertibles

Jennifer Convertibles, Inc., was organized as a Delaware
corporation in 1986, and is currently the owner of (i) the largest
group of sofabed specialty retail stores and leather specialty
retail stores in the United States, with stores located throughout
the Eastern seaboard, Midwest, West Coast and Southwest, and
(ii) seven big box, full-line furniture stores operated under the
Ashley Furniture HomeStore brand under a license from Ashley
Furniture Industries, Inc.

The Company and its affiliates filed for Chapter 11 bankruptcy
protection on July 18, 2010 (Bankr. S.D.N.Y. Case No. 10-13779).
Michael S. Fox, Esq., at Olshan Grundman Frome Rosenzweig &
Wolosky, LLP, assists the Company in its restructuring effort.  TM
Capital Corp. is the Company's financial advisor.  Mintz, Levin,
Cohn, Ferris, Glovsky and Popeo P.C. is the Company's special
securities counsel.

The Company estimated its assets and debts at $10,000,001 to
$50,000,000.


JONATHAN HANKS: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Joint Debtors: Jonathan Patrick Hanks
                aka Jon Hanks
               Arlene Gumayagay Hanks
               44-124 Mikiola Drive
               Kaneohe, HI 96744

Bankruptcy Case No.: 10-03880

Chapter 11 Petition Date: December 22, 2010

Court: United States Bankruptcy Court
       District of Hawaii (Honolulu)

Judge: Robert J. Faris

Debtor's Counsel: Raymond C. Cho, Esq.
                  AFFINITY LAW GROUP, LLLC
                  1188 Bishop Street, Suite 3408
                  Honolulu, HI 96813
                  Tel: (808) 545-4600
                  Fax: (808) 545-4601
                  E-mail: rcho723@gmail.com

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

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

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


JOSEPH MARTELLA: Case Summary & 13 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Joseph John Martella
        1773 Baja Lane
        Henderson, NV 89012

Bankruptcy Case No.: 10-33697

Chapter 11 Petition Date: December 22, 2010

Court: United States Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Mike K. Nakagawa

Debtor's Counsel: David A. Riggi, Esq.
                  5550 Painted Mirage Road #120
                  Las Vegas, NV 89149
                  Tel: (702) 808-0359
                  E-mail: darnvbk@gmail.com

Estimated Assets: $0 to $50,000

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

A list of the Debtor's 13 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nvb10-33697.pdf


JULIAN DEATON: Case Summary & 11 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Julian D. Deaton
         aka Julian Derek Deaton
         aka J. Derek Deaton
        1373 Juanita Way
        Campbell, CA 95008

Bankruptcy Case No.: 10-63015

Chapter 11 Petition Date: December 22, 2010

Court: United States Bankruptcy Court
       Northern District of California (San Jose)

Judge: Stephen L. Johnson

Debtor's Counsel: Lars T. Fuller, Esq.
                  THE FULLER LAW FIRM
                  60 N Keeble Ave.
                  San Jose, CA 95126
                  Tel: (408) 295-5595
                  E-mail: Fullerlawfirmecf@aol.com

Scheduled Assets: $1,229,340

Scheduled Debts: $2,383,938

A list of the Debtor's 11 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/canb10-63015.pdf


K-V PHARMACEUTICAL: Going Concern Doubt Raised; Posts $283MM Loss
-----------------------------------------------------------------
K-V Pharmaceutical Company filed on December 27, 2010, its annual
report for the fiscal year ended March 31, 2010.

BDO USA, LLP, in Chicago, expressed substantial doubt about K-V
Pharmaceutical's ability to continue as a going concern.  The
independent auditors noted that the Company has suspended the
shipment of all but one of the products manufactured by the
Company and must comply with a consent decree with the Food and
Drug Administration before approved products can be reintroduced
to the market.  In addition, the independent auditors noted of the
significant negative impacts these actions may have on the
Company's operating results and cash flows, including, recurring
losses from operations, a shareholders' deficit, and negative
working capital; the potential inability of the Company to raise
additional capital, significant uncertainties related to
litigation and governmental inquiries; and debt covenant
violations.

The Company reported a net loss of $283.6 million on
$152.2 million of net revenues for fiscal 2010, compared to a net
loss of $313.6 million on $312.3 million of net revenue for fiscal
2009.

The decrease in net revenues was a result of decreases in product
sales due to the impact of the nationwide recalls the Company
initiated in the fourth quarter of fiscal year 2009 and the
suspensions of shipments the Company initiated of all approved
tablet-form products in December 2008 and all other drug products
in January 2009.  The decrease was partially offset by revenue
generated from the sale of certain products not manufactured by
the Company under the Distribution Agreement with Purdue Pharma
L.P.

Operating loss was $312.7 million and $351.5 million in fiscal
2010 and 2009, respectively.  Operating expenses in fiscal year
2010 decreased $66.4 million or 15.4%, as compared to fiscal year
2009.

The Company's balance sheet at March 31, 2010, showed
$358.6 million in total assets, $497.7 million in total
liabilities, and a stockholders' deficit of of $139.1 million.

        Discontinuation of Manufacturing and Distribution;
           Product Recalls; and the FDA Consent Decree

In May 2008, the Company received two reports of an oversized
morphine sulfate extended-release tablet in commercial
distribution.  Following an investigation by the Company into the
possible causes of any such oversized tablets and the likelihood
that additional lots of morphine sulfate extended-release tablets
or other products might contain oversized tablets, the Company
instituted changes in its manufacturing processes to address the
identified causes and to prevent any oversized tablets from
entering commercial distribution.

In June 2008, the Company's wholly-owned subsidiary ETHEX
Corporation initiated voluntary recalls of morphine sulfate 30-mg
and 60-mg extended-release tablets.  On October 15, 2008, ETHEX
commenced a voluntary recall of three specific lots of
dextroamphetamine sulfate 5-mg tablets as a precaution due to the
possible presence of oversized tablets.  On November 7, 2008,
ETHEX announced a voluntary recall to the consumer level of
multiple lots of five generic products of varying strengths as a
precaution due to the potential presence of oversized tablets.  On
November 10, 2008, ETHEX initiated a voluntary recall of multiple
lots of 18 generic/non-branded products to the retail level as a
precaution due to the possible presence of oversized tablets.

On December 15, 2008, the FDA began an inspection of the Company's
facilities.

On December 19, 2008, the Company voluntarily suspended all
shipments of its FDA approved drug products in tablet form and
commenced a voluntary nationwide single production lot recall of
one of its pain management drugs.

Effective January 22, 2009, the Company voluntarily suspended the
manufacturing and shipment of the remainder of its products,
except for three products the Company distributes but does not
manufacture and which does not generate a significant amount of
revenue.

On January 28, 2009, the Company initiated a nationwide voluntary
recall of products manufactured or packaged at KV facilities,
affecting most of the Company's products.  The recall was
subsequently expanded on February 3, 2009.  This recall affected
multiple lots of over 150 branded and generic/non-branded
products.

On March 2, 2009, the Company entered into a consent decree with
the FDA regarding its drug manufacturing and distribution.  The
consent decree was entered by the U.S. District Court, Eastern
District of Missouri, Eastern Division on March 6, 2009, and
continues for a period of six years following satisfaction of
certain obligations contained in the consent decree after which
the Company may petition the Court for relief from the consent
decree.  As part of the consent decree, the Company agreed not to
directly or indirectly do or cause the manufacture, processing,
packing, labeling, holding, introduction or delivery for
introduction into interstate commerce at or from any of its
facilities of any drug, until the Company has satisfied certain
requirements designed to demonstrate compliance with the FDA's
current good manufacturing practice regulations.  The Company also
agreed not to distribute its products that are not FDA approved,
including its prenatal vitamins and hematinic products, unless the
Company obtains FDA approval for such products through the FDA's
ANDA or NDA processes.

On August 13, 2009, the final work plan, as part of the measures
set forth in the consent decree, with all requested changes, was
submitted to and accepted by the FDA.

During the week of August 16, 2010, FDA conducted its own
inspection of the Company's facilities, systems and processes as
outlined in the consent decree and found no adverse findings.  On
September 8, 2010, the Company received notification from the FDA
of approval to ship into the marketplace the first product
approved under the consent decree, i.e., Potassium Chloride ER
Capsule.

The Company is continuing to prepare other products for FDA
inspection and does not expect to resume shipping other products
until the first quarter of calendar year 2011, at the earliest.

        Plea Agreement with the U.S. Department of Justice

As previously disclosed in the Company's annual report on Form
10-K for fiscal year 2009, the Company entered into a plea
agreement with the Office of the United States Attorney for the
Eastern District of Missouri and the Office of Consumer Litigation
of the United States Department of Justice, pursuant to which
ETHEX Corporation pleaded guilty to two felony counts, each
stemming from the failure to make and submit a field alert report
to the FDA in September 2008 regarding the discovery of certain
undistributed tablets that failed to meet product specifications.

Pursuant to the plea agreement, ETHEX agreed to pay a criminal
fine in the amount of $23.4 million in four installments.  The
first installment, in the amount of $2.3 million, was due and paid
within 10 days of sentencing, which also took place on March 2,
2010.

ETHEX also agreed to pay, within 10 days of sentencing,
restitution to the Medicare and the Medicaid programs in the
amounts of $1.8 million and $600,00, respectively.  In addition to
the fine and restitution, ETHEX agreed not to contest an
administrative forfeiture in the amount of $1.8 million, which was
payable and paid within 45 days after sentencing and which
satisfied any and all forfeiture obligations ETHEX may have as a
result of the guilty plea.  In total, ETHEX agreed to pay fines,
restitution and forfeiture in the aggregate amount of
$27.6 million.

In exchange for the voluntary guilty plea, the Department of
Justice agreed that no further federal prosecution will be brought
in the Eastern District of Missouri against ETHEX, KV and Ther-Rx
regarding allegations of the misbranding and adulteration of any
oversized tablets of drugs manufactured by the Company, and the
failure to file required reports regarding these drugs and
patients' use of these drugs with the FDA, during the period
commencing on January 1, 2008, through December 31, 2008.

In connection with the guilty plea by ETHEX, ETHEX was expected to
be excluded from participation in federal healthcare programs, and
in connection with the previously anticipated exclusion of ETHEX
from participation in federal healthcare programs, the Company
ceased operations of ETHEX on March 2, 2010.  On November 15,
2010, the Company entered into a divestiture agreement with the
U.S. Department of Health and Human Services ("HHS OIG") under
which the Company agreed to sell the assets and operations of
ETHEX to unrelated third parties prior to April 28, 2011, and to
file articles of dissolution with respect to ETHEX under Missouri
law by that date.  Following the filing, ETHEX may not engage in
any new business other than winding up its operations and will
engage in a process provided under Missouri law to identify and
resolve its liabilities over at least a two-year period.  Under
the terms of the agreement, HHS OIG agreed not to exclude ETHEX
from federal healthcare programs until April 28, 2011, and, upon
completion of the sale of the ETHEX assets and of the filing of
the articles of dissolution of ETHEX, the agreement will
terminate.  ETHEX filed its articles of dissolution on
December 15, 2010, and ETHEX no longer has any ongoing assets or
operations other than those required to conclude the winding up
process under Missouri law.

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

               http://researcharchives.com/t/s?7183

                     About K-V Pharmaceutical

Bridgeton, Mo.-based K-V Pharmaceutical Company (NYSE: Kva/KVb)
-- http://www.kvpharmaceutical.com/-- is a fully-integrated
specialty pharmaceutical company that develops, manufactures,
markets, and acquires technology-distinguished branded
prescription pharmaceutical products.  The Company markets its
technology-distinguished products through Ther-Rx Corporation, its
branded drug subsidiary.

On March 2, 2009, the Company entered into a consent decree with
the FDA regarding the Company's drug manufacturing and
distribution, pursuant to which the Company agreed not to directly
or indirectly do or cause the manufacture, processing, packing,
labeling, holding, introduction or delivery for introduction into
interstate commerce at or from any of its facilities of any drug,
until the Company has satisfied certain requirements designed to
demonstrate compliance with the FDA's current good manufacturing
practice regulations.

After a successful FDA inspection of the Company's facilities
during the week of August 16, 2010, the Company received on
September 8, 2010, notification from the FDA of approval to ship
into the marketplace the first product approved under the consent
decree, i.e., Potassium Chloride ER Capsule.  The Company is
continuing to prepare other products for FDA inspection.


KARL STOMBERG: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Karl C. Stomberg
        79 N. Lamerie Way
        The Woodlands, TX 77382

Bankruptcy Case No.: 10-41603

Chapter 11 Petition Date: December 23, 2010

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

Judge: Jeff Bohm

Debtor's Counsel: Calvin C. Braun, Esq.
                  ORLANDO & BRAUN LLP
                  3401 Allen Parkway, Suite 101
                  Houston, TX 77019
                  Tel: (713) 521-0800
                  Fax: (713) 521-0842
                  E-mail: calvinbraun@orlandobraun.com

Estimated Assets: $0 to $50,000

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

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


KMS II: Case Summary & 16 Largest Unsecured Creditors
-----------------------------------------------------
Debtor: KMS II, LLC
        1626 Ringling Blvd., Suite 500
        Sarasota, FL 34236

Bankruptcy Case No.: 10-30506

Chapter 11 Petition Date: December 23, 2010

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

Debtor's Counsel: David S. Jennis, Esq.
                  JENNIS & BOWEN, P.L.
                  400 N Ashley Drive, Suite 2540
                  Tampa, FL 33602
                  Tel: (813) 229-1700
                  Fax: (813) 229-1707
                  E-mail: ecf@jennisbowen.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 16 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/flmb10-30506.pdf

The petition was signed by Shawn Cabral, managing member.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
AlphaRock, LLC                         09-11888   06/05/09


LABOPHARM INC: Receives Minimum Bid Price Requirement Notice
------------------------------------------------------------
Labopharm Inc. received notice from the Listings Qualifications
Department of The Nasdaq Stock Market that the closing bid price
of the Company's common shares was below the minimum requirement
of US$1.00 per share for 30 consecutive business days and the
Company was therefore not in compliance with Nasdaq Listing Rules.

The notification has no impact at this time on the listing of
Labopharm's common shares on The Nasdaq Capital Market and
Labopharm's common shares will continue to trade on The Nasdaq
Capital Market under the symbol "DDSS".   The notification also
has no impact on the listing of the Company's common shares on the
Toronto Stock Exchange and the Company's common shares will
continue to trade on the Toronto Stock Exchange under the symbol
"DDS".

Labopharm has been provided a period of 180 calendar days, or
until June 27, 2011, to regain compliance with the minimum closing
bid price requirement.  Labopharm can regain compliance if the
closing bid price of its common shares is US$1.00 or higher for a
minimum of ten consecutive business days during the compliance
period.

If Labopharm does not re-establish compliance by June 27, 2011,
Nasdaq will provide written notification to the Company that its
common shares are subject to delisting.  At that time, the Company
may be eligible for an additional 180 calendar day compliance
period if it meets the initial listing standards, with the
exception of minimum closing bid price, for The Nasdaq Capital
Market, and it provides a written plan to re-establish compliance
during the second grace period.

                      About Labopharm Inc.

Labopharm is an emerging leader in optimizing the performance of
existing small molecule drugs using its proprietary controlled-
release technologies.  The Company's commercialized products
include OLEPTRO(TM) a once-daily antidepressant marketed in the
U.S. and a unique once-daily formulation of tramadol marketed in
19 countries, including the U.S.  Labopharm's third product, a
twice-daily formulation of tramadol-acetaminophen, is approved in
multiple countries in Europe with launches anticipated in late
2011.  The Company also has a pipeline of follow-on products in
both pre-clinical and clinical development. Labopharm is
headquartered in Laval, Canada with U.S. offices in Princeton, New
Jersey.



LDK SOLAR: Reaches 3 Gigawatt Milestone at Wafer Plants
-------------------------------------------------------
LDK Solar Co. Ltd. has reached the milestone of 3.0 gigawatts
annualized capacity at its wafer plants.  Mr. Xiaofeng Peng, the
Company's founder, Chairman and CEO hosted a ceremony to celebrate
at the Company's facilities in Xinyu City, China.

                         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."


LIONS GATE: Frank Giustra Owns 12,500 Common Shares
---------------------------------------------------
In a Form 3 filing with the Securities and Exchange Commission on
December 22, 2010, Frank Giustra, a director at Lions Gate
Entertainment Corp., disclosed that he beneficially owns 12,500
common shares of the company.  The 12,500 restricted share units
were granted by the Company, payable upon vesting in an equal
number of common shares of the Company, that are scheduled to vest
in three equal installments beginning December 14, 2011.

                         About Lions Gate

British Columbia-domiciled and Santa Monica, California-
headquartered Lions Gate is an independent producer and
distributor of motion pictures, home entertainment, television
programming and animation worldwide and holds a majority interest
in the pioneering CinemaNow VOD business.

Lions Gate Entertainment Corp. reported total assets of
$1,592,874,000 against total liabilities of $1,594,454,000,
resulting in total deficiency of $1,580,000 as of June 30, 2010.

Lions Gate carries 'B-' issuer credit ratings from Standard &
Poor's.


LOGIC DEVICES: Recurring Losses Prompt Going Concern Doubt
----------------------------------------------------------
LOGIC Devices Incorporated filed on December 27, 2010, its annual
report on Form 10-K for the fiscal year ended September 30, 2010.

Hein & Associates LLP, in Irvine, Calif., expressed substantial
doubt about the Company's ability to continue as a going concern.
The independent auditors noted that the Company has suffered
recurring losses from operations and requires additional funds to
maintain its operations.

The Company reported a net loss of $1,084,500 for fiscal 2010,
compared with a net loss of $811,300 for fiscal 2009.  Net
revenues decreased $819,900, or $27%, from $3,013,200 in fiscal
2009 to $2,193,300 in fiscal 2010..

The Company's balance sheet at September 30, 2010, showed
$2,760,700 in total assets, $281,400 in total liabilities, and
stockholders' equity of $2,479,300.

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

               http://researcharchives.com/t/s?7184

Sunnyvale, Calif.-based LOGIC Devices Incorporated (Nasdaq: LOGC)
-- http://www.logicdevices.com/-- develops and markets high-
performance, low power digital integrated circuits and integrated
modules that perform high-density storage and signal/image
processing functions.

The Company's products are used in video broadcasting, medical
imaging, military, industrial, embedded, and telecommunications
markets.


LOUISVILLE ORCHESTRA: Musicians Want Ch. 11 Case Dismissed
----------------------------------------------------------
Kevin Eigelbach, staff writer at Business First, reports that the
Louisville Orchestra Musicians' Association and Committee, which
represent The Louisville Orchestra, Inc.'s musicians, asked a
federal bankruptcy judge to dismiss the Chapter 11 reorganization
case of Louisville Orchestra.

The musicians argued that the orchestra doesn't belong in
bankruptcy court, and that management made the filing simply to
get out of its collective bargaining agreement with the musicians,
according to Business First.

Based in Louisville, Kentucky, The Louisville Orchestra, Inc.,
filed for Chapter 11 bankruptcy protection on Dec. 3, 2010 (Bankr.
W.D. Ken. Case No. 10-36321).  Judge David T. Stosberg presides
over the case.  Daniel T. Albers, Jr., Esq., Mark A. Robinson,
Esq., and Robert Wagner, Esq., at Valenti Hanley & Robinson PLLC,
represents the Debtor.  The Debtor estimated both assets and debts
of between $1 million and $10 million in its petition.


LTAP US: Wells Fargo Seeks Relief From Bankruptcy Shield
--------------------------------------------------------
Wells Fargo Bank is seeking to lift the shield of bankruptcy
that's protecting LTAP US LLLP from creditors like itself, arguing
that it is entitled to relief for its more than $230 million in
claims, Dow Jones' Small Cap reports.

According to the report, Wells Fargo filed a motion urging the
bankruptcy court to lift the automatic stay protecting LTAP from
lawsuits and other creditor actions.  In the motion, the report
relates, Wells Fargo complained that the value of the collateral
securing its claims -- the life insurance policies LTAP buys from
elderly customers -- faces an "imminent risk of destruction."

Wells Fargo, court papers show, pointed to LTAP's request to tap
currently encumbered cash in order to pay premiums on the 410
life-insurance policies for which the Atlanta company is currently
the beneficiary, the report notes.

With $6 million in premium payments coming due on Jan. 9, and with
LTAP's current cash level of $160,000, Wells Fargo is concerned
that the value of the policies will "evaporate" if the premiums
aren't timely paid, the report adds.

LTAP US, LLLP, formerly Life Trust Asset Pool US, LLLP,
headquartered in Atlanta, Georgia, invests in, manages, and
arranges for the servicing of life insurance policies.  LTAP US is
managed by its general partner, LT Partner, LLC, and eight limited
partners.

LTAP US filed for Chapter 11 bankruptcy protection on December 22,
2010 (Bankr. D. Del. Case No. 10-14125).  The Debtor estimated its
assets and debts at $100 million to $500 million.  Landis Rath &
Cobb LLP serves as bankruptcy counsel.


MARIA JUNKOVIC: Section 341(a) Meeting Scheduled for Feb. 2
-----------------------------------------------------------
The U.S. Trustee for Region 11 will convene a meeting of Maria
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.

Harwood Heights, Illinois-based Maria Junkovic filed for Chapter
11 bankruptcy protection on December 20, 2010 (Bankr. N.D. Ill.
Case No. 10-55902).  David K. Welch, Esq., at Crane Heyman Simon
Welch & Clar, serves as the Debtor's bankruptcy counsel.  The
Debtor estimated her assets at $10 million to $50 million and
debts at $10 million to $50 million.


MICHAEL DECKER: Case Summary & 11 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Michael P. Decker
        3645 Falcon Way
        Reno, NV 89509

Bankruptcy Case No.: 10-54972

Chapter 11 Petition Date: December 24, 2010

Court: U.S. Bankruptcy Court
       District of Nevada (Reno)

Judge: Gregg W. Zive

Debtor's Counsel: Kevin A. Darby, Esq.
                  DARBY LAW PRACTICE, LTD.
                  4777 Caughlin Parkway
                  Reno, NV 89519
                  Tel: (775) 322-1237
                  Fax: (775) 996-7290
                  E-mail: kevin@darbylawpractice.com

Scheduled Assets: $994,970

Scheduled Debts: $2,854,420

A list of the Debtor's 11 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nvb10-54972.pdf


MICHAEL MACALUSO: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Michael A. Macaluso, Jr.
        dba Macaluso Realty
        2 Willow Point
        Moorestown, NJ 08057

Bankruptcy Case No.: 10-49596

Chapter 11 Petition Date: December 23, 2010

Court: United States Bankruptcy Court
       District of New Jersey (Camden)

Judge: Judith H. Wizmur

Debtor's Counsel: Edmond M. George, Esq.
                  OBERMAYER, REBMANN, MAXWELL & HIPPEL
                  1617 JFK Boulevard, Suite 1900
                  Philadelphia, PA 19103
                  Tel: (215) 665-3140
                  Fax: (215) 665-3165
                  E-mail: edmond.george@obermayer.com

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

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

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


MIKE SACKETT: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Mike Sackett, Inc.
        dba Sackett Contracting & Excavating
        P.O. Box 368
        Nordman, ID 83848

Bankruptcy Case No.: 10-21681

Chapter 11 Petition Date: December 22, 2010

Court: United States Bankruptcy Court
       District of Idaho (Coeur dAlene)

Judge: Terry L. Myers

Debtor's Counsel: David E. Eash, Esq.
                  EWING ANDERSON P.S.
                  2101 Lakewood Dr Ste 236
                  Coeur d Alene, ID 83814
                  Tel: (208) 667-7990
                  Fax: (509) 838-4906
                  E-mail: deash@ewinganderson.com

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

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

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/idb10-21681.pdf

The petition was signed by Mike Sackett, president.


MS EASTCHESTER: Case Summary & 14 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: MS Eastchester, LLC
        8450 S. US Highway 1
        Port Saint Lucie, FL 34985

Bankruptcy Case No.: 10-48652

Chapter 11 Petition Date: December 22, 2010

Court: United States Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Erik P. Kimball

Debtor's Counsel: Lenore M Rosetto, Esq.
                  Philip J Landau, Esq.
                  SHRAIBERG, FERRARA, & LANDAU P.A.
                  2385 NW Executive Ctr Dr # 300
                  Boca Raton, FL 33431
                  Tel: (561) 443-0800
                  E-mail: lrosetto@sfl-pa.com
                          plandau@sfl-pa.com

Scheduled Assets: $7,500,000

Scheduled Debts: $7,766,850

A list of the Company's 14 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/flsb10-48652.pdf

The petition was signed by Ward I. Snyder, manager member.


NAKNEK ELECTRIC: Can Access $300,200 of RUS Cash Collateral
-----------------------------------------------------------
The Hon. Donald MacDonald IV of the U.S. Bankruptcy Court for the
District of Alaska, in a third stipulated order, authorized Naknek
Electric Association, Inc., to use up to $300,155 of cash
collateral and any other cash in its possession until April 29,
2010.

The Debtor would use the cash collateral solely for the purpose of
paying Debtor's Chapter 11 operating expenses.

As of the Petition Date, United States Department of Agriculture,
Rural Utilities Service has a claim exceeding $3 million on
obligations secured by the mortgage.  The Debtor related that the
aggregate amount of cash in its possession as of November 30, was
$601,303.

As adequate protection for any diminution in value of the lenders'
collateral, the Debtors will grant RUS replacement liens on and
security interests in substantially all of Debtor's then-existing
and after-acquired assets.

As further adequate protection, the Debtor will make an adequate
protection payments of $60,100 by December 31, 2010, $18,000 by
January 31, 2011, $16,000 by February 28, $60,100 by March 31,
and $60,100 by April 30, to RUS.

                About Naknek Electric Association

Naknek, Alaska-based Naknek Electric Association, Inc., operates
an electric utility generation plant that is run by diesel powered
generators. It provides electricity to 591 members of the
cooperative.  It also is developing a geothermal well.

Naknek Electric filed for Chapter 11 bankruptcy protection on
September 29, 2010 (Bankr. D. Alaska Case No. 10-00824).  Erik
LeRoy, Esq., at Erik Leroy P.C., assists the Debtor in its
restructuring effort.  The Debtor estimated its assets and debts
at $10 million to $50 million as of the Petition Date.


NAKNEK ELECTRIC: Committee of Equity Security Holders Appointed
---------------------------------------------------------------
Robert D. Miller, the U.S. Trustee for Region 18, appointed seven
members to the committee of equity security holders in the
Chapter 11 case of Naknek Electric Association, Inc.

The committee is consist of:

1. Lake and Peninsula Borough
   Attn: Richard E. Wallace, finance officer
   P.O. BOX 495
   King Salmon, AK 99613
   Tel: (907) 246-3421
   Fax: (907) 246-6602
   E-mail: finance@lakeandpen.com
           richardewallace@hotmail.com

2. Bristol Bay Housing Authority
   Attn: Dave McClure, executive director
   P.O. Box 50
   Dillingham, AK 99576
   Tel: (907) 842-6500
   Fax: (907) 842-2784
   E-mail: dmcclure@bbha.org

3. Brookside Properties Inc/
   Arcadia Corporation dba King Ko Inn
   Attn: Paul Koval, president
   P.O. Box 111830
   Anchorage, AK 99511-1830
   Tel: (907) 562-0648
   Fax: (907) 567-0658
   E-mail: paul@kingko.com

4. Sandor Manyoky
   3900 east 112th Avenue
   Anchorage, AK 99516
   Tel: (907) 947-3499
   Fax: (907) 349-8791
   E-mail: haas@gci.net

5. Paug-Vik
   Attn: Daniel Casey, general manager
   P.O. Box 61
   Naknek, AK 99633
   Tel: (202) 812-3020
   Fax: (866) 653-3282
   E-mail: Qci@gci.net

6. Lorren/Heidemarie Weaver
   P.O. Box 497
   King Salmon, AK 99613
   Tel: (907) 246-3011
        (907) 929-1298
   Cell: (907) 947-6415
   Fax: (907) 929-1298
   E-mail: lorrenw@starband.net

7. Bristol Bay Borough
   Attn: Brant Mursch
   P.O. Box 547
   Naknek, AK 99633
   Tel: (907) 246-3966
   Fax: (907) 246-6633
   E-mail: brantmursch@bristolbayboroughak.us

Naknek, Alaska-based Naknek Electric Association, Inc., operates
an electric utility generation plant that is run by diesel powered
generators. It provides electricity to 591 members of the
cooperative.  It also is developing a geothermal well.

Naknek Electric filed for Chapter 11 bankruptcy protection on
September 29, 2010 (Bankr. D. Alaska Case No. 10-00824).  Erik
LeRoy, Esq., at Erik Leroy P.C., assists the Debtor in its
restructuring effort.  The Debtor estimated its assets and debts
at $10 million to $50 million as of the Petition Date.


NAKNEK ELECTRIC: Files Schedules of Assets and Liabilities
----------------------------------------------------------
Naknek Electric Association, Inc., filed with the U.S. Bankruptcy
Court for the District of Alaska its schedules of assets and
liabilities.  A full-text copy of the Schedules is available for
free at http://bankrupt.com/misc/NaknekElectric_SAL.pdf

Naknek, Alaska-based Naknek Electric Association, Inc., operates
an electric utility generation plant that is run by diesel powered
generators. It provides electricity to 591 members of the
cooperative.  It also is developing a geothermal well.

Naknek Electric filed for Chapter 11 bankruptcy protection on
September 29, 2010 (Bankr. D. Alaska Case No. 10-00824).  Erik
LeRoy, Esq., at Erik Leroy P.C., assists the Debtor in its
restructuring effort.  The Debtor estimated its assets and debts
at $10 million to $50 million as of the Petition Date.


NAKNEK ELECTRIC: U.S. Trustee Forms 7-Member Creditors' Committee
-----------------------------------------------------------------
Robert D. Miller, the U.S. Trustee for Region 18, appointed seven
members to the official committee of unsecured creditors in the
Chapter 11 case of Naknek Electric Association, Inc.

The Creditors Committee members are:

1. Baker Hughes Oil Field Operations, Inc.
   Attn: Christopher J. Ryan
   2929 Allen Parkway, Suite 2100
   Houston, TX 77019
   Tel: (713) 439-8771
   Fax: (713) 439-8778

2. BC Contractors
   Attn: Hazel Nelson, president
   1225 E. International Airport Road, Suite 135
   Anchorage, AK 99518
   Tel: (907) 561-4777
   Fax: (907) 561-4778

3. Thermasource, Inc.
   Attn: Jennifer Capuano, senior legal clerk
   3883 Airway Drive, Suite 340
   Santa Rosa, CA 95403
   Tel: (707) 636-5805
   Fax: (707) 523-1029

4. GRB Equipment, Inc.
   Attn: Greg G. Silvey, attorney
   Guess & Rudd, 510 L Street, Suite 700
   Anchorage, AK 99501
   Tel: (907) 793-2200
   Fax: (907) 793-2299

5. Bristol Bay Contractors
   Attn: Calvin R. Jones, attorney
   Jones & Colver, LLC
   3201 C Street, Suite 203
   Anchorage, AK 99503
   Tel: (907) 272-6511
   Fax: (907) 276-6511

6. Northern Air Cargo
   Attn: Colin T. Dolan, credit specialist
   3900 Old International Airport Road
   Anchorage, AK 99502
   Tel: (907) 249-5162
   Fax: (907) 249-5192

7. Centrifuge Services LLC
   Attn: Jeffrey Robbins, president
   7362 W. Parks Hwy., No. 730
   Wasilla, AK 99654
   Tel: (907) 354-6856
   Fax: (907) 376-7556

Official creditors' committees have the right to employ legal and
accounting professionals and financial advisors, at the Debtor's
expense.  They may investigate the Debtor's business and financial
affairs.  Importantly, official committees serve as fiduciaries to
the general population of creditors they represent.  Those
committees will also attempt to negotiate the terms of a
consensual Chapter 11 plan -- almost always subject to the terms
of strict confidentiality agreements with the Debtors and other
core parties-in-interest.  If negotiations break down, the
Committee may ask the Bankruptcy Court to replace management with
an independent trustee.  If the Committee concludes reorganization
of the Debtor is impossible, the Committee will urge the
Bankruptcy Court to convert the Chapter 11 cases to a liquidation
proceeding.

Naknek, Alaska-based Naknek Electric Association, Inc., operates
an electric utility generation plant that is run by diesel powered
generators. It provides electricity to 591 members of the
cooperative.  It also is developing a geothermal well.

Naknek Electric filed for Chapter 11 bankruptcy protection on
September 29, 2010 (Bankr. D. Alaska Case No. 10-00824).  Erik
LeRoy, Esq., at Erik Leroy P.C., assists the Debtor in its
restructuring effort.  The Debtor estimated its assets and debts
at $10 million to $50 million as of the Petition Date.


NCO GROUP: S&P Junks Counterparty Credit Rating From 'B-'
---------------------------------------------------------
Standard & Poor's Ratings Services said that it lowered its long-
term counterparty credit rating on NCO Group Inc. to 'CCC+' from
'B-'.  S&P also lowered its senior secured and unsecured debt
ratings on NCO to 'CCC+' and 'CCC-', respectively, from 'B-' and
'CCC'.  The outlook is negative.

"The downgrade reflects its view that it will be difficult for NCO
to meet its current interest-coverage covenant through year-end
2010 given weaker-than-expected third-quarter financial results,"
said Standard & Poor's credit analyst Kevin Cole.  EBITDA
generation in the third quarter showed no improvement on second-
quarter results.  S&P does not anticipate results improving
materially in the near term.  As a result, S&P believes NCO will
be forced to seek covenant relief, by either renegotiating the
affected covenants or -- in a worst case scenario -- restructuring
the debt.

S&P calculates that EBITDA levels fell roughly 30% year over year
in the first three quarters of 2010.  Fourth-quarter EBITDA would
need to grow nearly 50% from the third quarter for NCO to maintain
its interest-coverage ratio above the covenant-specified minimum
of 1.8x -- an outcome S&P considers unlikely.  In light of a
difficult collections environment and weak customer service call
volumes, S&P believes NCO's near-term results may show little
improvement, despite the company's efforts to lower expenditures
and earn additional incremental business from existing clients.

The negative outlook reflects the potential for significant
pressure on debt covenants given worse-than-expected financial
performance.  If this or other circumstances cause NCO to
underperform further, relative to its expectations, S&P will lower
the rating.  If NCO can negotiate additional covenant relief, or
if results show sustained improvement, S&P could revise the
outlook to stable.


NEXSTAR BROADCASTING: T. Yosef-Or Does Not Own Any Securities
-------------------------------------------------------------
In a Form 3 filing with the Securities and Exchange Commission on
December 28, 2010, Tomer Yosef-Or disclosed that he does not own
any securities of Nexstar Broadcasting Group Inc.  Mr. Yosef-Or
was elected to the Board of Directors of Nexstar Broadcasting
Group, Inc. on January 21, 2010, as announced on Form 8-K, filed
February 8, 2010.  Due to an inadvertent administrative error, his
Form 3 filing was late.

                 About Nexstar Broadcasting Group

Irving, Texas-based Nexstar Broadcasting Group Inc. currently
owns, operates, programs or provides sales and other services to
62 television stations in 34 markets in the states of Illinois,
Indiana, Maryland, Missouri, Montana, Texas, Pennsylvania,
Louisiana, Arkansas, Alabama, New York, Rhode Island, Utah and
Florida.  Nexstar's television station group includes affiliates
of NBC, CBS, ABC, FOX, MyNetworkTV and The CW and reaches
approximately 13 million viewers or approximately 11.5% of all
U.S. television households.

                           *     *     *

As reported by the Troubled Company Reporter on August 30, 2010,
Standard & Poor's Ratings Services raised its corporate credit
rating on Nexstar Broadcasting Group to 'B' from 'B-'.  The rating
outlook is stable.

"The 'B' corporate credit rating reflects S&P's expectation that
Nexstar's core ad revenue will continue growing modestly in 2010
and 2011," said Standard & Poor's credit analyst Deborah Kinzer.
The EBITDA growth resulting from the rebound in core advertising,
combined with political ad revenue from the 2010 midterm
elections, should, in S&P's view, enable Nexstar to reduce its
leverage significantly by the end of the year.


NRZ INC: Voluntary Chapter 11 Case Summary
------------------------------------------
Debtor: NRZ, Inc.
        dba Beach Access
        12885 SW 82nd Avenue
        Miami, FL 33156

Bankruptcy Case No.: 10-48895

Chapter 11 Petition Date: December 23, 2010

Court: United States Bankruptcy Court
       Southern District of Florida (Miami)

Judge: Robert A. Mark

Debtor's Counsel: Brandy Gonzalez-Abreu, Esq.
                  LAW OFFICE OF BRANDY GONZALEZ-ABREU
                  7385 SW 87 Ave # 100
                  Miami, FL 33173
                  Tel: (305) 441-9530
                  Fax: (305) 585-5086
                  E-mail: bgabreu@abreulaw.org

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

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

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

The petition was signed by Nir Tzanani, president.


NYC OFF-TRACK: Health Insurance Temporarily Reinstated
------------------------------------------------------
Brendan Scott, writing for The New York Post, reports that the
health insurance for some 900 former Off-Track Betting Corp.
employees was temporarily reinstated on December 28 after a judge
froze city efforts to cut off benefits to retirees of the defunct
bookmaking agency.

According to the Post, District Council 37, which represents many
of the retirees, said Supreme Court Judge Martin Shulman issued
the restraining order last Monday in Manhattan pending further
hearings.  The city argues it isn't obligated to pay the health
benefits because the agency is no longer contributing to the
insurance.

As reported in the Dec. 10, 2010 edition of the Troubled Company
Reporter, NYC OTB began closing down December 7 after the state
Senate voted down legislation for a bailout to be effected through
a Chapter 9 reorganization plan.  The New York Times reported that
about 50 parlors around the city were shuttered and some 1,000
employees lost their jobs.

                           About NYC OTB

New York City Off-Track Betting Corporation is a public benefit
corporation, which operates an off-track pari-mutuel betting
system on thoroughbred and harness horse races held at all 11 race
tracks located in New York State and certain race tracks located
outside of the State.  Since NYC OTB's inception in 1971, it has
made payments of nearly $2 billion to the State horse racing
industry, more than $1.4 billion to New York City and nearly
$600 million to the State.  In 2008 alone, NYC OTB made statutory
contributions in an aggregate amount of $128.6 million to the
State horse racing industry, the State, the City, and other local
municipalities.  NYC OTB's operations are regulated by the State.

NYC OTB filed for bankruptcy under Chapter 9 of the Bankruptcy
Code on December 3, 2009 (Bankr. S.D.N.Y. Case No. 09-17121).  OTB
is represented by Richard Levin, Esq., at Cravath, Swaine & Moore
LLP., in New York, and Michael S. Fox, Esq., Herbert C. Ross,
Esq., David Y. Wolnerman, Esq., at Olshan Grundman Frome
Rosenzweig & Wolosky LLP in New York.

At September 30, 2009, NYC OTB had $18,468,147 in total assets
against $74,912,742 in total current liabilities, $6,982,887 in
long-term liabilities, and $201,020,000 in long-term post
employment benefits.


OMNIRELIANT HOLDINGS: Inks Plan of Merger With Infusion Brands
--------------------------------------------------------------
On December 16, 2010, as part of its quasi-reorganization in order
to change its business model from that of an acquisition strategy
to a singular operating model as a consumer products company which
builds and markets brands internationally through direct-to-
consumers channels of distribution, OmniReliant Holdings, Inc.
entered into an agreement and plan of merger with Infusion Brands
International, Inc., a Nevada corporation and the Company's
wholly-owned subsidiary.  Pursuant to the terms and subject to the
conditions set forth in the Merger Agreement, the Company merged
with and into Infusion Brands International, Inc., solely to
effect a name change of the Company.

The Company will continue as the surviving corporation with the
surviving corporation changing its name to Infusion Brands
International, Inc..  The Company's Board of Directors approved
the Merger and the Merger Agreement.  On December 16, 2010, the
Company filed Articles of Merger with the Secretary of State of
Nevada.  Pursuant to Chapter 92A.180 of the Nevada Revised
Statutes, Shareholder approval was not required for the Merger and
Name Change.  Copies of the Merger Agreement and Articles of
Merger are filed herewith.  In conjunction with the Name Change,
the Company has applied for a voluntary symbol change with the
Financial Industry Regulatory Authority.

The foregoing Name Change and symbol change will not be effected
until the Company receives approval from FINRA.

As part of its Reorganization, on December 13, 2010, the Company
entered into a stock purchase agreement with Webcarnation LLC
pursuant to which the Company sold its membership interest in
Webcarnation back to Webcarnation, in consideration for the
release of the Company by Webcarnation from any obligation to
purchase an additional promissory note in the principal amount of
$50,000, pursuant to the terms of that certain subscription
agreement dated June 2, 2010, by and between the Company and
Webcarnation.

Pursuant to the terms of the Original Webcarnation Agreement, the
Company purchased an initial promissory note in the principal
amount of $50,000.  As further consideration for the sale of the
Membership Interests, the Company and Webcarnation agreed to amend
the Initial Note in order to (i) amend the Maturity Date to the
earlier of (a) December 31, 2012 or (b) the date Webcarnation
consummates the sale of debt securities (including any lines of
credit) or membership interest or other securities in a single
transaction or series of related transactions resulting in the
gross proceeds of $250,000; (ii) amend the annual interest rate of
the Initial Note to 6% and (iii) provide for a payment schedule
for the payback of the Original Note, to commence on July 1, 2011,
pursuant to which Webcarnation will pay the Company $2,000 per
month until the principal and interest due under the Initial Note
is paid in full.

On December 16, 2010, the Company entered into a stock purchase
agreement with Jesus Diaz and Oscar Rodriguez pursuant to which it
sold 100% of the issued and outstanding common stock of its wholly
owned subsidiary, OmniReliant Acquisition Sub, Inc. to Mr. Diaz
and Mr. Rodriguez in consideration for the cancellation of Mr.
Diaz's and Mr. Rodriguez's respective employment agreements with
OmniReliant Acquisition Sub, Inc.

                    About OmniReliant Holdings

Clearwater, Fla.-based OmniReliant Holdings, Inc. (OTC BB: ORHI) -
- http://www.omnireliant.com/-- is a consumer products company
which focuses its efforts on building demonstrable brands globally
by deploying direct-to-consumer marketing channels internationally
that include live shopping, infomercials, eCommerce and
traditional "brick-and-mortar" channels of distribution.  As of
June 30, 2010, the Company's business segments consist of (i)
Consumer Products, (ii) Fashing Goods, and (iii) eCommerce.

The Consumer Products segment has historically been engaged in
identifying affordable and demonstrable products to market
principally to domestic customers through direct to consumer
channels such as television infomercials, live shopping networks,
and ecommerce channels.  The newly formed Fashion Goods segment is
engaged in the business of sourcing and distributing designer
fashion goods and accessories on a discounted basis to both the
Business-to-Business ("B2B") wholesale and Business-to-Consumer
("B2C") retail channels of distribution.  The newly formed
eCommerce segment is engaged in retail and wholesale distribution
of specific products and types or categories of products that do
not fit into the Company's Consumer Products or Fashion Goods
segments.

The Company's balance sheet as of September 30, 2010, showed
$10.9 million in total assets, $15.0 million in total
liabilities, $8.6 million in redeemable preferred stock, and a
stockholders' deficit of $12.6 million.

As reported in the Troubled Company Reporter on October 18, 2010,
Meeks International LLC, in Tampa, Florida, expressed substantial
doubt about the Company's ability to continue as a going concern,
following the Company's results for the fiscal yer ended June 30,
2010.  The independent auditors noted that the Company has
incurred significant recurring losses from operations and is
dependent on outside sources of financing for continuation of its
operations.


OSCEOLA TRACE: Case Summary & 11 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Osceola Trace Development Corporation
        18753 SE Federal Hwy
        Tequesta, FL 33469

Bankruptcy Case No.: 10-48790

Chapter 11 Petition Date: December 23, 2010

Court: United States Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Paul G. Hyman Jr.

Debtor's Counsel: Alvin S. Goldstein, Esq.
                  Robert C. Furr, Esq.
                  FURR & COHEN
                  2255 Glades Rd #337W
                  Boca Raton, FL 33431
                  Tel: (561) 395-0500
                  Fax: (561) 338-7532
                  E-mail: mmitchell@furrcohen.com
                          bnasralla@furrcohen.com

Scheduled Assets: $0

Scheduled Debts: $87,445,526

A list of the Company's 11 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/flsb10-48790.pdf

The petition was signed by Robert L. Miller, president.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Osceola Development Project, LP        10-48806  12/07/10


OWENS CORNING: Asbestos Trust Withdraws Request to Reopen Cases
---------------------------------------------------------------
The Owens Corning/Fibreboard Asbestos Personal Injury Trust and
Owens Corning Sales LLC, f/k/a Owens Corning, and its debtor
affiliates stipulate that:

  -- the Asbestos Trust will withdraw its request to reopen the
     Reorganized Debtors' Chapter 11 cases;

  -- the Reorganized Debtors consent to the Trust's withdrawal
     of the case re-opening request; and

  -- each party will bear its own costs concerning the matter.

As reported in the Troubled Company Reporter on November 4, 2010,
Owens Corning/Fibreboard Asbestos Personal Injury Trust was asking
Judge Judith K. Fitzgerald of the United States Bankruptcy Court
for the District of Delaware to:

(a) reopen the Chapter 11 case of Owens Corning to allow it to
     prosecute a Verified Complaint for Declaratory and
     Injunctive Relief or, in the alternative;

(b) permit it to prosecute the Complaint without reopening the
     case.

Section 305(b) of the Bankruptcy Code provides that "[a] case may
be reopened in the court in which that case was closed to
administer assets, to accord relief to the debtor, or for other
cause."  Rule 5010 of the Federal Rules of Bankruptcy Procedure
provides, inter alia, that "[a] case may be reopened on motion of
the debtor or other party in interest pursuant to Section 350(b)
of the Bankruptcy Code."

In the Motion to Reopen, Bernard G. Conaway, Esq., at Campbell &
Levine LLC, in Wilmington, Delaware, said that over the past
several months, and in separate actions around the country,
insurers and certain asbestos defendants that have recently filed
for Chapter 11 protection have launched massive and intrusive
discovery efforts against asbestos personal injury asbestos
trusts, including the OC Asbestos Trust, seeking vast amounts of
information concerning claims submissions made by claimants to
those trusts.  Some of the discovery requests seek the complete
records for hundreds of thousands of claimants, demanding every
scrap of electronic information maintained by dozens of asbestos
personal injury trusts, he said.  Mr. Conaway elaborated that
through the Complaint it plans to commence, the OC Asbestos Trust
seeks to resolve in one jurisdiction, in one action, (1) the
proper scope of discovery of their claimant information and data
that certain parties have sought, and (2) the protections that the
Trust may properly and consistently invoke in the event of future
discovery efforts.

In response, Owens Corning Sales LLC and its reorganized debtor
affiliates clarified that they take no position as to the
adversary proceeding commenced in relation to several Asbestos
Personal Injury Trusts' request to reopen these Chapter 11 cases.
The Reorganized Debtors aver that they are not parties to the
Adversary Proceeding.

Nevertheless, the Reorganized Debtors pointed out that they
strongly oppose the reopening of any of their Chapter 11 cases.
Mark Minuti, Esq., at Saul Ewing LLP, in Wilmington, Delaware,
relates that the last of the Reorganized Debtors' cases was only
recently closed, after a prolonged effort spanning 10 years.  The
closing of the Reorganized Debtors' cases, he notes, was a major
milestone for the Reorganized Debtors in terms of internal morale
and "closure."

"Reopening one or more of the Reorganized Debtors' cases would be
a significant blow to internal morale and a potential distraction
to ongoing business operations," Mr. Minuti contends.

                     About Owens Corning

Headquartered in Toledo, Ohio, Owens Corning fka Owens Corning
(Reorganized) Inc. (NYSE: OC) -- http://www.owenscorning.com/--
is a producer of residential and commercial building materials and
glass fiber reinforcements, and other similar materials for
composite systems.  The company has operations in 26 countries.

The Company filed for Chapter 11 protection on October 5, 2000
(Bankr. D. Del. Case. No. 00-03837).  Norman L. Pernick, Esq., at
Saul Ewing LLP, represented the Debtors.  Elihu Inselbuch, Esq.,
at Caplin & Drysdale, Chartered, represented the Official
Committee of Asbestos Creditors.  James J. McMonagle served as the
Legal Representative for Future Claimants until June 20, 2007.
Mr. McMonagle was replaced by Michael J. Crames.  Mr. Crames
served as Mr. McMonagle's counsel until July 2005, when he retired
from the law firm Kaye Scholer LLP.

On September 28, 2006, the Honorable John P. Fullam, Sr., of the
U.S. District Court for the Eastern District of Pennsylvania
affirmed the order of Honorable Judith Fitzgerald of the U.S.
Bankruptcy Court for the District of Delaware confirming Owens
Corning's Sixth Amended Plan of Reorganization.  The Plan took
effect on October 31, 2006, marking the company's emergence from
Chapter 11.

Reorganized Owens sought on July 25, 2008, from the Delaware
Bankruptcy Court a final decree closing the Chapter 11 cases of 17
of its affiliates.  Only the Chapter 11 case of Owens Corning
Sales, LLC, formerly known as Owens Corning, under Case No.
00-03837 will remain open.

(Owens Corning Bankruptcy News; Bankruptcy Creditors' Service
Inc.; http://bankrupt.com/newsstand/or 215/945-7000)

                         *     *     *

Reorganized Owens Corning carries a 'Ba1' corporate family rating
from Moody's.


OWENS CORNING: Garlock Objects to Preliminary Injunction Request
----------------------------------------------------------------
Garlock Sealing Technologies LLC informed Judge Judith K.
Fitzgerald that it also objects to the preliminary injunction
sought by the Asbestos PI Trust Plaintiffs.

Garlock is a manufacturer of sealing products and filed a
bankruptcy petition on June 5, 2010 in the U.S. Bankruptcy Court
for the Western District of North Carolina to seek a resolution
of pending and future asbestos personal injury claims against it.

As previously reported, each of the asbestos trusts in the cases
of Owens Corning, ACandS Inc., Kaiser Aluminum Corporation, USG
Corporation; the corresponding trust advisory committees of the
Trusts; and Hon. Dean M. Trafelet (Ret.), as legal representative
for Future Claimants against the USG Asbestos Trust asked Judge
Fitzgerald of the U.S. Bankruptcy Court for the District of
Delaware to enter a preliminary injunction barring the
continuation of discovery against the Trusts and all discovery of
a similar nature until the Court has ruled on the issues raised
in the Trusts' Adversary Complaint.

The preliminary injunction request has been opposed by these
groups:

  * National Union Fire Insurance Company of Pittsburgh, PA and
    American Home Assurance Company;

  * Specialty Products Holding Corp.; and

  * Hartford Accident and Indemnity Company, First State
    Insurance Company, and New England Insurance Company.

Garlock now filed its own objection to the injunction request.
In its objection, Garlock tells the Delaware Court that it has
been named as a defendant in the Asbestos PI Trusts' complaint
because, like the other defendants, it has sought discovery from
the PI Trusts.

Counsel to Garlock, Robert J. Denney, Esq., at Morris Nichols
Arsht & Tunnell LLP, in Wilmington, Delaware, argues that the PI
Trusts' request is extraordinarily ill-founded and the PI Trusts
cannot demonstrate any impending harm or irreparable harm
required to obtain a preliminary injunction.

Mr. Dehney points out that the harm the PI Trusts fear is the
obligation to produce the discovery to which the bankruptcy judge
in North Carolina might conclude Garlock is entitled.  "But that
discovery has not yet been authorized," he notes.

The availability of an alternative remedy, Mr. Dehney says,
fatally undermines the request for preliminary injunctive relief.

In addition, Mr. Denney contends, the Preliminary Injunction
request is extraordinarily broad and would bar discovery in every
case other than an actual personal injury lawsuit brought by a
claimant.

"In sum, this lawsuit is nothing more than an ill-advised attempt
-- likely tactical in nature -- to interfere with the orderly
administration of Garlock's bankruptcy case," Mr. Denney argues.

             Plaintiffs Withdraw Injunction Request
                     for Specialty Products

The Plaintiffs have withdrawn their request for Preliminary
Injunction as it solely relates to Specialty Products Holding
Corp.

                  Parties Seek Case Dismissal

Garlock asks Judge Fitzgerald to dismiss the PI Trusts' Adversary
Complaint as it relates to itself.

On behalf of Garlock, Mr. Denney asserts that the Delaware
Bankruptcy Court lacks subject matter jurisdiction.  He adds that
the Complaint against Garlock should be dismissed pursuant to the
"first-filed" rule of the Third Circuit because the adversary
proceeding as it relates to Garlock is "second-filed" and seeks
the determination of the same issues raised in Garlock's Chapter
11 case.

Aside from Garlock, these parties also ask Judge Fitzgerald to
dismiss the Adversary Complaint for lack of subject matter
jurisdiction:

  -- National Union Fire Insurance Company of Pittsburgh, Pa.,
     and American Home Assurance Company; and

  -- Hartford Accident and Indemnity Company, First State
     Insurance Company and New England Insurance Company.

           Plaintiffs Answer Call for Case Dismissal

Counsel to the Plaintiffs, Bernard Conaway, Esq., at Campbell &
Levine LLC, in Wilmington, Delaware, maintains that the Delaware
Court has jurisdiction over the PI Trusts' Adversary Complaint
for three reasons:

  -- It involves a claim that "arises in" a bankruptcy case;

  -- It involves a claim that "relates to" a bankruptcy case;
     and

  -- The Delaware Court has ancillary jurisdiction to enforce
     its own orders.

In a reply in support of the Preliminary Injunction request, Mr.
Conaway points out that the PI Trust Plaintiffs have come to the
Delaware Court seeking protection from the Defendants' improper
attempts to obtain massive quantities of confidential settlement
information through overbroad subpoenas to the Trusts and their
agents because of (i) the Delaware Court's prominent role in the
history of asbestos personal injury trusts, its understanding of
the trusts and their governing documents, and (ii) in light of
the Delaware Court's continuing jurisdiction over the Trust
Plaintiffs.

In light of the pending or threatened discovery requests, the
Delaware Court should issue a preliminary injunction preventing
discovery until it has had an opportunity to consider and rule on
the questions presented, Mr. Conaway asserts.

Ultimately, permanent injunctive and declaratory relief will be
necessary to ensure that the Trust Plaintiffs are not turned into
public clearinghouses of confidential claimant settlement
information, and to preserve the balance achieved by Section
524(g) and the plans confirmed by the Court, Mr. Conaway
emphasizes.

                         *     *     *

       Court Consolidates Related Adversary Proceedings

Judge Fitzgerald entered an order on December 21, 2010, ruling
that the Adversary Proceedings initiated by the Kaiser Aluminum
PI Trust, Adversary No. 10-53719; the ACandS PI Trust, Adversary
No. 10-53721; the Owens Corning PI Trust, Adversary No. 10-53720;
and the USG Corp. PI Trust, Adversary No. 10-53712 pending before
the Delaware Court in Bankruptcy Case Nos. 02-10429 (Kaiser
Aluminum), 02-12687 (ACandS), 00-03837 (Owens Corning), and 01-
02094 (USG Corp.), will be administratively consolidated for all
purposes as to the parties named in each Adversary Proceeding.

Adversary Proceeding Nos. 10-53721, 10-53720, and 10-53712 will
be added to the caption of Adversary Proceeding No. 10-53719 in
the Chapter 11 case of Kaiser Aluminum Corporation, which will be
the surviving Adversary Proceeding number for the matters after
the consolidation.

Judge Fitzgerald further ruled that a docket entry be made in
each of the legal dockets for Adversary Proceeding Nos. 10-53721,
10-53720, and 10-53712, which will be read as:

  "An Order has been entered in this Adversary Proceeding
  directing the procedural consolidation of this Adversary
  Proceeding with Adversary Proceeding No. 10-53719 (JKF) (In re
  Kaiser Aluminum Corporation, et al., Case No. 02-10429 (JKF)).
  The docket for Adversary Proceeding No. 10-53719 (JKF) should
  be consulted for all matters affecting this adversary
  proceeding."

                     About Owens Corning

Headquartered in Toledo, Ohio, Owens Corning fka Owens Corning
(Reorganized) Inc. (NYSE: OC) -- http://www.owenscorning.com/--
is a producer of residential and commercial building materials and
glass fiber reinforcements, and other similar materials for
composite systems.  The company has operations in 26 countries.

The Company filed for Chapter 11 protection on October 5, 2000
(Bankr. D. Del. Case. No. 00-03837).  Norman L. Pernick, Esq., at
Saul Ewing LLP, represented the Debtors.  Elihu Inselbuch, Esq.,
at Caplin & Drysdale, Chartered, represented the Official
Committee of Asbestos Creditors.  James J. McMonagle served as the
Legal Representative for Future Claimants until June 20, 2007.
Mr. McMonagle was replaced by Michael J. Crames.  Mr. Crames
served as Mr. McMonagle's counsel until July 2005, when he retired
from the law firm Kaye Scholer LLP.

On September 28, 2006, the Honorable John P. Fullam, Sr., of the
U.S. District Court for the Eastern District of Pennsylvania
affirmed the order of Honorable Judith Fitzgerald of the U.S.
Bankruptcy Court for the District of Delaware confirming Owens
Corning's Sixth Amended Plan of Reorganization.  The Plan took
effect on October 31, 2006, marking the company's emergence from
Chapter 11.

Reorganized Owens sought on July 25, 2008, from the Delaware
Bankruptcy Court a final decree closing the Chapter 11 cases of 17
of its affiliates.  Only the Chapter 11 case of Owens Corning
Sales, LLC, formerly known as Owens Corning, under Case No.
00-03837 will remain open.

(Owens Corning Bankruptcy News; Bankruptcy Creditors' Service
Inc.; http://bankrupt.com/newsstand/or 215/945-7000)

                         *     *     *

Reorganized Owens Corning carries a 'Ba1' corporate family rating
from Moody's.


OWENS CORNING: James Williams Seeks Claims Payment
--------------------------------------------------
James Williams sent a letter to Bankruptcy Judge Judith Fitzgerald
asking for payment of an alleged claim that was previously
submitted against Owens Fiberglass Company.

Judge Fitzgerald wrote back and instructed The Owens
Corning/Fibreboard Asbestos Personal Injury Trust to respond to
Mr. Willliams' letter.  In addition, he instructed Mr. Williams
to address his concerns to the Trust in the future.

                       Trust Seeks Secrecy

In a separate filing, the PI Trust asks Judge Fitzgerald for
authority to file a response to Mr. Williams' letter and future
responses to claimants under seal for in camera review by the
Court.

Marla R. Eskin, Esq., at Campbell & Levine LLC, in Wilmington,
Delaware, relates that the responses, and any exhibits, contain
information that is protected from public disclosure by the
confidentiality provisions of the Asbestos Personal Injury Trust
Distribution Procedures and also contains the Trust's commercial
information with regards to analysis and opinions regarding the
claim at issue.

The TDP, in relevant part, provides that:

  "All submissions to the PI Trust by a holder of a PI Trust
  Claim or a proof of claim form and materials related thereto
  shall be treated as made in the course of settlement
  discussions between the holder and the PI Trust and intended
  by the parties to be confidential and to be protected by all
  applicable stated and federal privileges, including, but not
  limited to, those directly applicable to settlement
  discussions.  The PI Trust will preserve the confidentiality
  of such claimant submissions, and shall disclose the contents
  thereof only, with permission of the holder, to another trust
  established for the benefit of asbestos personal injury
  claimants pursuant to section 524(g) and/or section 105 of the
  Bankruptcy Code or other applicable law, to such other persons
  as authorized by the holder, or in response to a valid
  subpoena of such materials issued by the Bankruptcy Court...
  The PI Trust shall on its own initiative or upon request of
  the claimant in question take all necessary and appropriate
  steps to preserve said privilege before the Bankruptcy Court
  and before those courts having appellate jurisdiction related
  thereto."

The Trust subsequently filed its response to Mr. Williams' letter
under seal.

                     About Owens Corning

Headquartered in Toledo, Ohio, Owens Corning fka Owens Corning
(Reorganized) Inc. (NYSE: OC) -- http://www.owenscorning.com/--
is a producer of residential and commercial building materials and
glass fiber reinforcements, and other similar materials for
composite systems.  The company has operations in 26 countries.

The Company filed for Chapter 11 protection on October 5, 2000
(Bankr. D. Del. Case. No. 00-03837).  Norman L. Pernick, Esq., at
Saul Ewing LLP, represented the Debtors.  Elihu Inselbuch, Esq.,
at Caplin & Drysdale, Chartered, represented the Official
Committee of Asbestos Creditors.  James J. McMonagle served as the
Legal Representative for Future Claimants until June 20, 2007.
Mr. McMonagle was replaced by Michael J. Crames.  Mr. Crames
served as Mr. McMonagle's counsel until July 2005, when he retired
from the law firm Kaye Scholer LLP.

On September 28, 2006, the Honorable John P. Fullam, Sr., of the
U.S. District Court for the Eastern District of Pennsylvania
affirmed the order of Honorable Judith Fitzgerald of the U.S.
Bankruptcy Court for the District of Delaware confirming Owens
Corning's Sixth Amended Plan of Reorganization.  The Plan took
effect on October 31, 2006, marking the company's emergence from
Chapter 11.

Reorganized Owens sought on July 25, 2008, from the Delaware
Bankruptcy Court a final decree closing the Chapter 11 cases of 17
of its affiliates.  Only the Chapter 11 case of Owens Corning
Sales, LLC, formerly known as Owens Corning, under Case No.
00-03837 will remain open.

(Owens Corning Bankruptcy News; Bankruptcy Creditors' Service
Inc.; http://bankrupt.com/newsstand/or 215/945-7000)

                         *     *     *

Reorganized Owens Corning carries a 'Ba1' corporate family rating
from Moody's.


OVERLAND STORAGE: Gets $3MM for Sale of Int. in Litigation Award
----------------------------------------------------------------
On December 21, 2010, Overland Storage Inc. entered into an
agreement with various institutional investors to sell to the
Investors a minority ownership interest in any Litigation Award
arising from the Company's patent infringement lawsuit against
BDT AG, BDT Products, Inc., BDT-Solutions GmbH & Co. KG, BDT
Automation Technology (Zhuhai FTZ) Co., Ltd., BDT de Mexico,
S. de R.L. de C.V., Dell Inc., and International Business Machines
Corporation and the Company's complaint for patent infringement in
the United States International Trade Commission against the same
defendants.

Pursuant to the terms of the Agreement, the Company received
an aggregate of $3.0 million in cash in consideration for the
Ownership Interest.  The Company has also retained the right, in
its sole discretion, to determine whether to settle the Patent
Litigation and to determine the terms and conditions of any such
settlement.

                     About Overland Storage

San Diego, Calif.-based Overland Storage, Inc. (Nasdaq: OVRL) --
http://www.overlandstorage.com/-- is a global provider of data
management and data protection solutions across the data
lifecycle.  By providing an integrated range of technologies and
services for primary, nearline, offline, archival and cloud data
storage, Overland makes it easy and cost effective to manage
different tiers of information over time.

The Company's balance sheet at September 30, 2010, showed
$39.27 million in total assets, $41.74 million in total
liabilities, and a stockholders' deficit of $2.47 million.

As reported in the Troubled Company Reporter on September 28,
2010, Moss Adams LLP, in San Diego, Calif., expressed substantial
doubt about the Company's ability to continue as a going concern,
following the Company's results for the fiscal year ended June 30,
2010.  The independent auditors noted of the Company's recurring
losses and negative operating cash flows.


PACIFIC ETHANOL: Gets 180-Day Extension by NASDAQ
-------------------------------------------------
Pacific Ethanol, Inc. received a letter, dated December 28, 2010,
from The Nasdaq Stock Market notifying the company that it has met
all of the requirements to be granted an additional 180 days, or
until June 27, 2011, to regain compliance with the minimum $1.00
bid price per share requirement for continued listing on The
Nasdaq Capital Market.

The company may achieve compliance during the additional 180-day
period if the closing bid price of the company's common stock is
at least $1.00 per share for a minimum of 10 consecutive business
days before June 27, 2011.  This notification has no immediate
effect on the company's listing on The Nasdaq Capital Market nor
on the trading of the company's common stock.  If the company does
not regain compliance during the second compliance period, Nasdaq
will provide written notice that the company's common stock will
be delisted from The Nasdaq Capital Market.  In that event, the
company may appeal such determination to a hearings panel.  There
can be no assurance that the company will be able to regain
compliance with Nasdaq's minimum bid price per share requirement
for continued listing on The Nasdaq Capital Market.

                       About Pacific Ethanol

Pacific Ethanol, Inc. is the leading West Coast marketer and
producer of low-carbon renewable fuels.  Pacific Ethanol also
sells co-products, including wet distillers grain, or WDG, which
is a highly valuable nutritional animal feed.  Serving integrated
oil companies and gasoline marketers who blend ethanol into
gasoline, Pacific Ethanol provides transportation, storage and
delivery of ethanol through third-party service providers in the
Western United States, primarily in California, Nevada, Arizona,
Oregon, Colorado, Idaho and Washington.  New PE Holdco, LLC owns
four ethanol production facilities which are managed by Pacific
Ethanol and located near their ethanol and by-product customers,
offering significant timing, transportation cost and logistical
advantages.  Pacific Ethanol owns 20% of New PE Holdco.


PCS EDVENTURES: Reaches Settlement with Navigators Insurance
------------------------------------------------------------
PCS Edventures has negotiated a settlement with Navigators
Insurance.  PCS previously announced in its public filings that
Navigators had chosen to deny coverage for the SEC investigation
and the subsequent filing of a complaint against a former officer,
a current officer and the Company.  While the terms of the
settlement are confidential and the coverage negotiated has been
reduced, PCS is pleased that a significant portion of legal fees
to date will be reimbursed and that a substantial part of the
legal costs going forward will also be paid by the Insurance
Company.

                    About PCS Edventures!.com

Boise, Idaho-based PCS Edventures!.com, Inc. (OTC BB: PCSV) --
http://www.edventures.com/-- is engaged in the design,
development and delivery of educational learning labs bundled with
related technologies and programs to the K-12 market worldwide.
The PCS suite of products ranges from hands-on learning labs in
technology-rich topics in Science, Technology, Engineering and
Math (STEM) to services rich in imagination, innovation, and
creativity.  PCS programs operate in over 6,000 sites in all 50
United States as well as in 17 countries internationally.

The Company's balance sheet as of September 30, 2010, showed
$1.24 million in total assets, $517,307 in total liabilities, and
stockholders' equity of $725,234.

According to the Troubled Company Report on Nov. 22, 2010, M&K
CPAS PLLC expressed substantial doubt about the Company's
ability to continue as a going concern, following its fiscal 2010
results.  The firm noted that the Company has suffered reoccurring
losses and negative cash flow from operations.


POINT BLANK: Wins Final Approval for $25 Million in Financing
-------------------------------------------------------------
A $25 million financing package arranged by unsecured creditors
and equity holders of Point Blank Solutions Inc. received final
approval from a bankruptcy judge, giving the body-armor maker
access to the money it needed to dodge a fast-track sale, Dow
Jones' Small Cap reports.

According to the report, Judge Peter J. Walsh of the U.S.
Bankruptcy Court in Wilmington, Del., signed off on a final order
permitting Point Blank to draw on fresh funding provided by
Lonestar Partners LP, Privet Fund Management LLC and Prescott
Group Capital Management.

The report relates that the new lenders were tapped by the
official committee of equity holders and the official committee of
unsecured creditors in the case to replace an initial $20 million
bankruptcy loan offered up by Steel Partners II LP earlier in the
proceedings.

The financing from Steel Partners had been rapidly dwindling, and
the lender was pushing for a sale by the year's end and was
threatening to terminate the company's access to cash before the
start of 2011, the report notes.

                         About Point Blank

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

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

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

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


PETERKIN & ASSOCIATES: Case Summary & 21 Largest Unsec Creditors
----------------------------------------------------------------
Debtor: Peterkin & Associates, Inc.
        aka IPA
        131 Hay Street
        Fayetteville, NC 28301

Bankruptcy Case No.: 10-10442

Chapter 11 Petition Date: December 22, 2010

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

Judge: Stephani W. Humrickhouse

Debtor's Counsel: Stephon John Bowens, Esq.
                  BOWENS LAW, PLLC
                  3434 Edwards Mill Road, Suite 112-254
                  Raleigh, NC 27612
                  Tel: (919) 741-6798
                  Fax: (888) 686-0456
                  E-mail: stephon@bowenslawpllc.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 21 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nceb10-10442.pdf

The petition was signed by Alice D. Smith, executive director.


PHILADELPHIA RITTENHOUSE: Files for Chapter 11 Protection
---------------------------------------------------------
Philadelphia Rittenhouse Developer, L.P., filed for Chapter 11
protection on Dec. 30, 2010 (Bankr. E.D. Pa. Case No. 10-31201).

NetDockets reports that the decision to file for chapter 11
appears to be a response to an action in Pennsylvania state court
seeking to appoint a receiver for the development project, which
was brought by one of the company's lenders, iStar Tara, LLC.  The
report relates a state court judge ordered the appointment of such
an examiner earlier but the order had not become final before the
bankruptcy filing.

Philadelphia Rittenhouse Developer, L.P. is represented in the
bankruptcy case by the law firm of Ciardi Ciardi & Astin, P.C.
iStar Tara, LLC is represented in the chapter 11 case by the firm
of Blank Rome LLP.

Philadelphia Rittenhouse Developer, L.P. is a joint venture
between ARC Properties, Inc., based in Clifton, New Jersey, and
Philadelphia-based Wheeler Brothers Holdings, LLC.  The company
was formed to develop 10 Rittenhouse Square, a 33-story
condominium building in Philadelphia.  The building, which was
designed by Robert A.M. Stern Architects and built by Turner
Construction, welcomed its first residents in October 2009 and
features amenities such as a chauffeur-driven 2010 Mercedes-Benz
S550, according to the development's marketing website.  The
building includes "some of the largest penthouses in Philadelphia"
which were expected to sell for as much as $15 million each,
according to one news report.


PHILADELPHIA RITTENHOUSE: Voluntary Chapter 11 Case Summary
-----------------------------------------------------------
Debtor: Philadelphia Rittenhouse Developer, L.P.
        130 South 18th Street
        Philadelphia, PA 19103

Bankruptcy Case No.: 10-31201

Chapter 11 Petition Date: December 30, 2010

Court: U.S. Bankruptcy Court
       Eastern District of Pennsylvania (Philadelphia)

Judge: Stephen Raslavich

Debtor's Counsel: Albert A. Ciardi, III, Esq.
                  CIARDI CIARDI & ASTIN, P.C.
                  One Commerce Square
                  2005 Market Street, Suite 1930
                  Philadelphia, PA 19103
                  Tel: (215) 557-3550
                  Fax: (215) 557-3551
                  E-mail: aciardi@ciardilaw.com

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

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

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

The petition was signed by John M. Decker, manager.


POPULAR INC: Moody's Upgrades Preferred Stock Rating to 'B2'
------------------------------------------------------------
Moody's Investors Service upgraded Popular, Inc.'s non-cumulative
preferred stock rating to B2 from Ca.  Following the rating
action, the outlook on Popular and its subsidiaries remains
negative.  The rating agency noted that this action did not affect
Popular's other ratings.  Popular is the holding company of Banco
Popular de Puerto Rico (unsupported bank financial strength rating
of D+, deposit ratings of Baa3/Prime-3).

Upgrades:

Issuer: Popular, Inc.

  -- Non-Cumulative Preferred Stock, Upgraded to B2 from Ca

  -- Multiple Seniority Shelf, Upgraded to a range of (P)B2 to
     (P)Ba1 from a range of (P)Ca to (P)Ba1

Outlook Actions:

Issuer: Popular, Inc.

  -- Outlook, Changed To Negative From Negative(m)

                         Ratings Rationale

The upgrade of Popular's non-cumulative preferred stock rating
follows the company's announcement that it will recommence paying
preferred dividends beginning December 31, 2010.

Popular announced the suspension of dividends on its non-
cumulative preferred stock on June 8, 2009 in conjunction with its
offer to exchange preferred stock and trust preferred securities
for common equity.  Popular has missed 17 consecutive monthly
dividend payments on the non-cumulative preferred stock that was
not exchanged in the tender offer and which remains outstanding.

Popular has committed to its regulators that it will fund the
preferred dividend payments (approximately $3.7 million annually)
by issuing common stock to employees under the company's existing
retirement plans or, if necessary, by raising common equity
externally.

Moody's last rating action on Popular was on November 1, 2010 when
Moody's downgraded the deposit ratings of Popular's lead bank,
Banco Popular de Puerto Rico, to Baa3/Prime-3 from Baa2/Prime-2.

Popular, Inc., is headquartered in Puerto Rico and reported assets
of $40.3 billion at September 30, 2010.


PRIUM LAKEWOOD: Has Access to Lender's Cash Coll. Until March 17
----------------------------------------------------------------
The Hon. Paul B. Snyder of the U.S. Bankruptcy Court for the
Western District of Washington authorized Prium Lakewood Buildings
LLC, to use the cash collateral of First Independent Bank.

As of the Petition Date, the Debtor is indebted to the bank
pursuant to the note in the principal amount of $15,680,338 plus
accrued and unpaid interest, plus various amounts for attorney
fees, costs, and expenses.

The Debtor would use the cash collateral to fund its business
operations until March 17, 2011, at 11:59 p.m.

As adequate protection for any diminution in value of the lenders'
collateral, the Debtors will grant the bank replacement lien on
all the personal property of the Debtor.  The Debtor will also pay
the bank all accrued and unpaid interest on the note from the
Petition Date forward based on a non-defaulted interest rate.

                About Prium Lakewood Buildings LLC

Tacoma, Washington-based Prium Lakewood Buildings LLC owns several
parcels of commercial real property.  The properties comprise
Lakewood Colonial Center, an income-producing retail and office
center.  Prium Lakewood is owned by Prium Companies LLC.

Prium Lakewood filed for Chapter 11 bankruptcy protection on
October 19, 2010 (Bankr. W.D. Wash. Case No. 10-48621).  Timothy
W. Dore, Esq., at Ryan Swanson & Cleveland PLLC, assists Prium
Lakewood in its restructuring effort.  Prium Lakewood estimated
its assets and debts at $10 million to $50 million as of the
Petition Date.

Affiliates Chelsea Heights LLC (Bankr. W.D. Wash. Case No. 10-
44959), Prium Kent Retail LLC (Bankr. W.D. Wash. Case No. 10-
45715), Prium Meeker Mall LLC (Bankr. W.D. Wash. Case No. 10-
45713), and Prium Tumwater Buildings LLC (Bankr. W.D. Wash. Case
No. 10-44962) filed separate Chapter 11 petitions.


PROTECTIVE PRODUCTS: Plan Confirmation Hearing Set for March 1
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Florida
will convene a hearing on March 1, 2011, at 1:30 p.m., prevailing
Eastern Time, to consider the confirmation of the Plan of
Liquidation for Protective Products of America, Inc., et al., as
proposed by the Official Committee of Unsecured Creditors.  Any
objections to the Plan confirmation and ballots accepting to
rejecting the Plan are due February 18.

The Debtor's exclusive period to file a Chapter 11 plan expired on
August 31, 2010.

The Plan provides for, among other things, the collection of the
Debtors' portion of certain income tax refunds, the pursuit of
certain litigation, including but not limited to avoidance
actions and causes of action, and the distribution of the Creditor
Trust Assets.

Under the Plan, holders of general unsecured claims will receive a
pro rata share of cash proceeds of the Creditor Trust Assets.  The
cash available to pay allowed general unsecured claims is provided
from the liquidation of all of the Creditor Trust Assets.  The
Committee estimates that the actual recovery for holders of
allowed general unsecured claims will be approximately $2,669,559.
The Committee believes that the recovery pursuant to the Plan is
more than the recovery the holders would realize upon liquidation
of these cases under chapter 7 of the Bankruptcy Code.  The
Committee also believes that the additional administrative
expenses of a chapter 7 trustee and its professionals would
dilute the distribution available to general unsecured creditors.

A full text copy of the Committee's Plan Outline is available for
free at
http://bankrupt.com/misc/PROTECTIVEPRODUCTS_CreditorsDS.pdf

The Committee is represented by:

     ARENT FOX LLP
     1675 Broadway
     New York, NY 10019-5820
     Tel: (212) 484-3900

     GENOVESE JOBLOVE & BATTISTA, P.A.
     100 SE 2nd Street, 44th Floor
     Miami, FL 33131
     Tel: (305) 349-2300
     Fax: (305) 349-2310

                          Debtors' Plan

Management has also proposed a Chapter 11 plan for the Debtors.

The Debtors' Plan provides for the collection of the Debtors
portion of certain income tax refunds, the pursuit of litigation
claims, and the distribution of the foregoing together with the
proceeds from the sale of substantially all of the Debtors assets
to Protective Products Enterprises, Inc., which closed on March 5,
2010.

Under the Plan, holders of general unsecured claims will receive a
pro rata share of cash proceeds.  The cash available to pay
allowed general unsecured claims is provided from the liquidation
of all of the Debtors assets and the pursuit of litigation claims,
if any.  As of September 30, the Debtors had $971,586 in cash on
hand.  The Debtors estimate that they may receive up to an
additional $2.3 million from the purchaser on account of state and
federal tax refunds sold to the purchaser, although the actual
amount of the tax refunds received, and therefore, the amount paid
by the purchaser to the Debtors may be less.  The funds will be
available for distribution to the holders of allowed claims.

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

            About Protective Products of America, Inc.

Sunrise, Florida-based Protective Products of America, Inc.,
formerly known as Ceramic Protection Corporation --
http://www.protectiveproductsofamerica.com/-- engages in the
design, manufacture and marketing of advanced products used to
provide ballistic protection for personnel and vehicles in the
military and law enforcement markets.

The Company filed for Chapter 11 bankruptcy protection on
January 13, 2010 (Bankr. S.D. Fla. Case No. 10-10711).  The
Company's affiliates -- PC Holding Corporation of America; Ceramic
Protection Corporation of America; Protective Products
International Corp.; and Protective Products of North Carolina,
LLC -- also filed separate Chapter 11 petitions.  Protective
Products disclosed $86,678,781 in assets and $27,460,502 in
liabilities as of the Petition Date.


R & S VENTURES: Case Summary & Largest Unsecured Creditor
---------------------------------------------------------
Debtor: R & S Ventures LLC, A New Mexico Corporation
        P.O. Box 436
        Alto, NM 88312

Bankruptcy Case No.: 10-16322

Chapter 11 Petition Date: December 23, 2010

Court: U.S. Bankruptcy Court
       New Mexico (Albuquerque)

Judge: James S. Starzynski

Debtor's Counsel: William F. Davis, Esq.
                  WILLIAM F. DAVIS & ASSOCIATES, P.C.
                  6709 Academy NE, Suite A
                  Albuquerque, NM 87109
                  Tel: (505) 243-6129
                  Fax: (505) 247-3185
                  E-mail: daviswf@nmbankruptcy.com

Scheduled Assets: $973,983

Scheduled Debts: $1,311,387

The petition was signed by Robert D. Russell, managing member.

The list of unsecured creditors filed together with its petition
contains only one entry:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
First National Bank of Ruidoso     --                   $1,311,387
451 Sudderth Drive
Ruidoso, NM 88345


RANCHO MALIBU: Has Until March 3 to Propose Chapter 11 Plan
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
extended Rancho Malibu, LLC's exclusive periods to file and
solicit acceptances for the proposed chapter 11 plan until
March 3, 2011, and May 2, 2011, respectively.

Malibu, California-based Rancho Malibu, LLC, filed for Chapter 11
protection on July 6, 2010 (Bankr. C.D. Calif. Case No. 10-18138).
Weintraub & Selth, APC, represents the Debtor.  The Debtor
estimates assets and debts at $10 million to $50 million.


ROPER BROTHERS: Plan of Liquidation Wins Court Approval
-------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Virginia
confirmed Roper Brothers Lumber Company, Incorporated, et al.'s
Plan of Liquidation.

As reported in the Troubled Company Reporter on October 22, 2010,
the Debtors have liquidated substantially all of their assets
except for the Lake Margaret Property and certain Causes of
Action.

According to the Disclosure Statement, the Plan provides that on
the Effective Date, (1) each of the Debtors will be deemed
dissolved; (2) the members of the board of directors of each of
the Debtors aill be deemed to have resigned; (3) the Debtor will
fund an account to pay the Convenience Class Claims; and (4) all
remaining assets of the Debtors will be transferred to a
Liquidation Trust for the benefit of the Debtors' creditors.

                 Treatment of Claims and Interests

Class 2 - Wells Fargo Bank's Secured Claim will be paid in full
from the proceeds from the sale of property owned by the Debtors
on which Wells Fargo had a valid, enforceable lien.

Class 3 - Franklin Federal Savings and Loan Association of
Richmond's Secured Claim -- at the sole option of the Liquidation
Trustee, (a) the legal equitable and contractual rights of the
Holder of Allowed Class 3 Claims will be reinstated in full; (b)
will receive in full satisfaction, settlement, and release of, and
in exchange for, the Holder's Allowed Secured Claim, (c) other,
less favorable treatment as is agreed upon by the Debtors or the
Liquidation Trustee, as applicable, and the Holder of the claim.

Class 4 - Other secured claims -- at the sole option of the
Liquidation Trustee, will receive (a) cash in the amount of the
Allowed Secured Claim on the later of the Effective Date and the
date the Claim becomes an Allowed Claim, or as soon thereafter as
practicable; (b) the property of the estate which constitutes
collateral for the Allowed Secured Claim on the later of the
Effective Date and the date the claim becomes an Allowed Claim, or
as soon thereafter as practicable, or (c) other, less favorable
treatment as is agreed upon by the Debtors or the Liquidation
Trustee, as applicable, and the holder of the Claim

Class 5 - General unsecured creditors are projected to receive an
initial dividend of 1% to 5.5% on their Allowed Claim, with
additional distributions based upon the realizations of the
Liquidation Trust in liquidating certain trust assets, including
the Lake Margaret Property.  The estimated initial distribution is
$130,000 to $582,000.

Class 6 - Convenience Class Claims will be paid 20% of the Allowed
Claim on the later of the Effective Date and the date the Claim
becomes an Allowed Claim.

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

               About Roper Brothers Lumber Company

Headquartered in Petersburg, Virginia Roper Brothers Lumber
Company, Incorporated, filed for Chapter 11 bankruptcy protection
on December 16, 2009 (Bankr. E.D. Va. Case No. 09-38215).
Durrettebradshaw PLC represents the Debtor.  The Company disclosed
$13,752,899 in assets and $16,658,187 in liabilities.


ROTHSTEIN ROSENFELDT: Prosecutors, Trustees Fight for Dominance
---------------------------------------------------------------
Dow Jones' Small Cap reports that by the time Scott Rothstein was
charged with racketeering, money laundering and fraud on Dec. 1,
2009, the South Florida attorney's white Lamborghini, 304 pieces
of jewelry, 87-foot yacht and other assets were already in the
hands of the federal government.

Creditors of Rothstein Rosenfeldt Adler PA, Rothstein's law firm,
filed an involuntary bankruptcy petition against the firm the day
after Rothstein's assets were seized, but they were too late,
according to Dow Jones'.  The report relates that the assets
creditors were counting on to pay their claims were gone.

Rothstein's creditors are the losers in what many bankruptcy
attorneys say is an increasingly aggressive push by the federal
government to seize the spoils of business empires that have
collapsed in fraud, the report notes.

Dow Jones' adds that created to ensure crime doesn't pay, federal
forfeiture laws allowed the government to seize the proceeds of
Rothstein's $1.2 billion Ponzi scheme.

                     About Rothstein Rosenfeldt

Scott Rothstein, co-founder of law firm Rothstein Rosenfeldt Adler
PA, has been suspected of running a $1.2 billion Ponzi scheme.
U.S. authorities claimed in a civil forfeiture lawsuit filed
November 9, 2009, that Mr. Rothstein, the firm's former chief
executive officer, sold investments in non-existent legal
settlements.  Mr. Rothstein pleaded guilty to five counts of
conspiracy and wire fraud on January 27, 2010.

Creditors of Rothstein Rosenfeldt Adler signed a petition sending
the Florida law firm to bankruptcy (Bankr. S.D. Fla. Case No.
09-34791).  The petitioners include Bonnie Barnett, who says she
lost $500,000 in legal settlement investments; Aran Development,
Inc., which said it lost $345,000 in investments; and trade
creditor Universal Legal, identified as a recruitment firm, which
said it is owed $7,800.  The creditors alleged being owed money
invested in lawsuit settlements.

Herbert M. Stettin, the state-court appointed receiver for
Rothstein Rosenfeldt, was officially carried over as the Chapter
11 trustee in the involuntary bankruptcy case.

On June 10, 2010, Mr. Rothstein was sentenced to 50 years in
prison.


ROYAL HOTEL: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Royal Hotel LLC
        dba Baymont Inn and Suites
        206 McFall Road
        Mattoon, IL 61938

Bankruptcy Case No.: 10-92574

Chapter 11 Petition Date: December 23, 2010

Court: United States Bankruptcy Court
       Central District of Illinois (Danville)

Judge: Gerald D. Fines

Debtor's Counsel: Edward W. Brankey, Esq.
                  Roy J. Dent, Esq.
                  BRANKEY & SMITH, P.C.
                  622 Jackson Ave
                  Charleston, IL 61920
                  Tel: (217) 345-6222
                  E-mail: cwebster@brankeysmithpc.com

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

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

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/ilcb10-92574.pdf

The petition was signed by Amrik Kaile, managing member.


SENSORCOM INC: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: SensorCom, Inc.
        900 Bestgate Road, Suite 102
        Annapolis, MD 21401

Bankruptcy Case No.: 10-38684

Chapter 11 Petition Date: December 22, 2010

Court: United States Bankruptcy Court
       District of Maryland (Baltimore)

Judge: Duncan W. Keir

Debtor's Counsel: James Greenan, Esq.
                  MCNAMEE, HOSEA, ET. AL.
                  6411 Ivy Lane, Suite 200
                  Greenbelt, MD 20770
                  Tel: (301) 441-2420
                  E-mail: jgreenan@mhlawyers.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/mdb10-38684.pdf

The petition was signed by Ashok Law, president.


SEXY HAIR: Files Schedules of Assets & Liabilities
--------------------------------------------------
Sexy Hair Concepts, LLC, filed with the U.S. Bankruptcy Court for
the Central District of California its schedules of assets and
liabilities, disclosing:

  Name of Schedule                      Assets         Liabilities
  ----------------                      ------         -----------
A. Real Property                              $0
B. Personal Property                 $78,000,000
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                      $62,750,476
E. Creditors Holding
   Unsecured Priority
   Claims                                                 $246,342
F. Creditors Holding
   Unsecured Non-priority
   Claims                                              $28,144,330
                                     -----------       -----------
      TOTAL                          $78,000,000       $91,141,148

A copy of the schedules is available for free at:

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

Chatsworth, California-based Sexy Hair Concepts, LLC, filed for
Chapter 11 bankruptcy protection on December 21, 2010 (Bankr. C.D.
Calif. Case No. 10-25922).  Scott F. Gautier, Esq., at Peitzman,
Weg & Kempinsky LLP, serves as the Debtor's bankruptcy counsel.


SEXY HAIR: Section 341(a) Meeting Scheduled for Jan. 25
-------------------------------------------------------
The U.S. Trustee for Region 16 will convene a meeting of Sexy Hair
Concepts, LLC's creditors on January 25, 2011, at 10:00 a.m.  The
meeting will be held at Room 105, 21051 Warner Center Lane,
Woodland Hills, CA 91367.

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.

Chatsworth, California-based Sexy Hair Concepts, LLC, filed for
Chapter 11 bankruptcy protection on December 21, 2010 (Bankr. C.D.
Calif. Case No. 10-25922).  Scott F. Gautier, Esq., at Peitzman,
Weg & Kempinsky LLP, serves as the Debtor's bankruptcy counsel.
According to its schedules, the Debtor disclosed $78,000,000 in
total assets and $91,141,147 in total debts as of the Petition
Date.


SEXY HAIR: Plans to Complete Sale in Chapter 11
-----------------------------------------------
Kristen MacBeth at BankruptcyHome.com reports that Sexy Hair
Concepts filed for Chpater 11 to complete a sale that had
previously been impossible to close outside of bankruptcy court.
Court papers indicated a potential buyer has been found for
company, though they would not finalize the deal through a
foreclosure sale.

Chatsworth, California-based Sexy Hair Concepts, LLC, filed for
Chapter 11 bankruptcy protection on December 21, 2010 (Bankr. C.D.
Calif. Case No. 10-25922).  Scott F. Gautier, Esq., at Peitzman,
Weg & Kempinsky LLP, serves as the Debtor's bankruptcy counsel.
According to its schedules, the Debtor disclosed $78,000,000 in
total assets and $91,141,147 in total debts as of the Petition
Date.


SNOQUALMIE ENTERTAINMENT: Moody's Raises Corp. Rating to 'Caa1'
---------------------------------------------------------------
Moody's Investors Service raised Snoqualmie Entertainment
Authority's Corporate Family Rating and Probability of Default
Rating to Caa1 from Caa3, following a recent successful amendment
to its credit agreement and improved operating performance.  The
rating outlook is positive.

These ratings were upgraded:

  - Corporate Family Rating to Caa1 from Caa3

  - Probability of Default Rating to Caa1 from Caa3

  - $130 million floating rate senior notes due 2014 to Caa1(LGD3,
    44%) from Caa3 (LGD3, 46%)

  - $200 million 9.125% senior notes due 2015 to Caa1(LGD3, 44%)
    from Caa3 (LGD3, 46%)

                         Ratings Rationale

The rating upgrade reflects Snoqualmie's diminished near-term
default probability after it completed an amendment to its FF&E
(Furniture, Furnishing & Equipment) loan agreement in December
2010, alleviating Moody's previous concern on a potential covenant
violation should the amendment not be entered into on time.  The
amendment which allows more flexible financial covenant levels
(among other changes), along with the Authority's improved
operating performance and liquidity position, lead us to believe
that its debt structure has become manageable in the intermediate
term.  "We now expect the Authority to generate positive free cash
flow and maintain sufficient cushion under the financial covenants
in the next 12 months," explained Moody's lead analyst John Zhao.

The positive outlook considers the possibility of further rating
upgrade should Snoqualmie sustain operating performance at its
current level and continue to pay down debt that would result in a
debt/EBITDA below 5.0x.  Moody's views that the improvement in the
Authority's operating performance in the first nine months of 2010
could be attributed to its more focused and effective marketing
program, aided by the moderated unemployment rate in the Seattle
metro area as well as a less inclement weather condition in the
first quarter of this year as compared to the prior year.

The Caa1 CFR reflects Snoqualmie's single asset profile, short
operating history and inherent volatility in the operating
performance that could be influenced by exogenous factors such as
inclement weather conditions.  The CFR also incorporates high
competition in the primary market and all credit risks that are
common to Native American gaming issuers.  Positively, the rating
considers Snoqualmie Casino's favorable location and strong
demographic in its primary Seattle market that could somewhat
offset the negative impact on gaming spending due to weak economy.

Snoqualmie is an unincorporated instrumentality of the Snoqualmie
Indian Tribe, formed in September 2006 to develop and operate all
gaming and related businesses of the Tribe, including Snoqualmie
Casino.  Snoqualmie Casino is located 26 miles east of downtown
Seattle, Washington.


STATION CASINOS: Proposes to Transfer All Accounts to Wells Fargo
-----------------------------------------------------------------
Station Casinos Inc. and its units ask the Court to amend its
final order authorizing them to (i) continue using their cash
management system, (ii) maintain existing bank accounts and
business forms, and (iii) maintain existing investment policy, to
allow them to transfer substantially all of their bank accounts
from Bank of America to Wells Fargo.

In furtherance of the Debtors' preparation for the implementation
of the Confirmed Station Plan, the Debtors contemplate
transferring substantially all of the Bank Accounts now held at
Bank of America to Wells Fargo, relates Thomas R. Kreller, Esq.,
at Milbank, Tweed, Hadley & McCloy LLP, in Los Angeles,
California.  According to Mr. Kreller, the structure and
functionality of the cash management system to be established at
Wells Fargo will substantially replicate the cash management
system now in place at Bank of America so that the definitions and
descriptions of the SCI Cash Management System set forth in the
Cash Management Motion will remain accurate.  He adds that the new
accounts at Wells Fargo will be subject to the existing
prepetition and postpetition liens in favor of the Prepetition
Agent, which will be continuously perfected and remain
uninterrupted.

For the avoidance of doubt, Debtors FCP MezzCo Parent, LLC, FCP
MezzCo Parent Sub, LLC, FCP MezzCo Borrower VII, LLC, FCP MezzCo
Borrower VI, LLC, FCP MezzCo Borrower V, LLC, FCP MezzCo Borrower
IV, LLC, FCP MezzCo Borrower III, LLC, FCP MezzCo Borrower II,
LLC, FCP MezzCo Borrower I, LLC, and FCP PropCo, LLC will retain
their existing bank accounts and will not participate in the
Account Transfer.

Mr. Kreller notes that the Account Transfer will allow the Debtors
to reduce or eliminate the deposit requirements currently in
effect at Bank of America.  The Account Transfer is, in part,
intended to serve as a "dry run" that will allow the Debtors to
ensure the mechanics of the SCI Cash Management System can operate
smoothly and effectively at Wells Fargo prior to the
Effective Date, he maintains.

"By allowing the Debtors the ability to replicate their existing
account system in advance of the Effective Date, the relief sought
in this Motion will help ensure the Debtors' exit from the Chapter
11 Cases is minimally disruptive from a cash management
perspective," says Mr. Kreller.

When the Wells Fargo Accounts are opened, the Debtors will file
(i) a notice with the Court advising the Court that the Account
Transfer has occurred and the Wells Fargo Accounts have been
opened, (ii) an updated list of the Wells Fargo Accounts, and
(iii) a proposed amendment to the order approving the Cash
Management Motion then in effect.  The amendment will confirm that
Wells Fargo Accounts are subject to the continuously perfected
prepetition and postpetition liens of the Prepetition Agent and
will replace Exhibit 1 to the existing cash management order with
an updated Exhibit 1.

The Debtors relate that they will enter into appropriate
documentation in connection with the Wells Fargo Accounts,
including account agreements, cash management agreements, and
pledge and security agreements, and will also provide for cash
deposits to secure certain reimbursement obligations incurred in
connection with the Wells Fargo Accounts, as the Debtors may
reasonably determine to be necessary.

Thomas M. Friel, executive vice president, chief accounting
officer, and treasurer of Station Casinos, Inc., submitted with
the Court a declaration in support of the Motion to Amend.  He
believes that the relief requested in the Motion to Amend is
necessary, essential and appropriate for enabling the Debtors'
businesses to avoid the risks of an abrupt conversion to a new
banking system on the Effective Date, easing this aspect of
transition.

                        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: Agrees to Pay Fees & Expenses of Notes Trustees
----------------------------------------------------------------
Station Casinos Inc., and its debtor affiliates, the Official
Committee of Unsecured Creditors, and certain other parties-in-
interest sought and obtained approval from the Court of a
stipulation authorizing the Debtors to pay fees and expenses
incurred by Senior and Subordinated Notes Trustees as required
under confirmed Plan of Reorganization.

Pursuant to the Court-approved stipulation, the Debtors will pay
Law Debenture Trust Company of New York, as the Senior Notes
Trustee, $453,089 in full satisfaction of all fees and expenses,
including legal fees and expenses.  The Debtors will pay
Wilmington Trust, N.A., as the Subordinated Notes Trustee,
$245,524 in full satisfaction of all fees and expenses.

The Court entered, on August 27, 2010, its order confirming the
Joint Chapter 11 plan for Station Casinos, Inc. and its debtor
affiliates.  The Plan describes treatment of claims against Debtor
SCI and provides for the payment of the reasonable and documented
fees and expenses of:

  (a) the Senior Notes Trustee (Law Debenture Trust Company
      of New York) for the two Senior Notes Indentures; and

  (b) the Subordinated Notes Trustee (Wilmington Trust, N.A.)
      for the three Subordinated Notes Indentures.

                        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: Snell & Wilmer Withdraws as GCR Counsel
--------------------------------------------------------
Snell & Wilmer LLP and Kasowitz, Benson, Torres & Friedman, LLP,
seek the Bankruptcy Court's authority to withdraw as counsel of
record for GCR Gaming, LLC, because they have completed the scope
of their engagement.

GCR Gaming, LLC retained Kasowitz and Snell & Wilmer as Nevada
counsel to represent it in a dispute with GV Ranch Station, Inc.
Specifically, Kasowitz and Snell were retained to represent GCR
Gaming regarding the contested matter and potential adversary
proceeding addressed by GCR Gaming's motion (1) to dismiss Chapter
11 case, or, in the alternative, (2) relief from automatic stay to
exercise applicable non-bankruptcy rights or (3) to compel
rejection of Operating Agreement.  The contested matter was taken
off calendar by the Court's May 27, 2010 order.

Snell and Kasowitz relate that they do not and never have
represented GCR Gaming in the consolidated Station Casinos
bankruptcies.  Snell and Kasowitz seek to withdraw because the
limited reason for their retention -- litigating the contested
matter and potential adversary proceedings addressed by the Motion
to Dismiss -- no longer exists.

GCR Gaming says in court papers that it consents to the withdrawal
of Snell and Kasowitz.

Key Reid, Esq., senior vice president and general counsel to The
Greenspun Corporation, filed with the Court a declaration in
support of the Withdrawal Motion.

                        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: S&P Raises Issue-Level Rating to 'B+'
--------------------------------------------------------
Standard & Poor's Ratings Services said that it raised its issue-
level rating on palladium and platinum mining operator Stillwater
Mining Co.'s senior convertible notes due 2028.  S&P raised the
issue-level rating to 'B+' from 'B'.  The recovery rating on the
notes is revised to '2', indicating its expectation of substantial
(70% to 90%) recovery in the event of a payment default, from '3'.

The corporate credit rating on Stillwater is 'B' and the outlook
is stable.

The ratings on Stillwater reflect the company's very limited
operating diversity, high cost profile, exposure to volatile metal
prices, and dependence on the U.S. automotive sector.  However,
the company maintains a good liquidity position and credit
measures.  For the corporate credit rating rationale, see its
summary analysis on Stillwater published Dec. 29, 2010.

                           Ratings List

                       Stillwater Mining Co.

         Corporate credit rating              B/Stable/--

                          Revised Ratings

                                              To      From
                                              --      ----
         Senior convertible notes due 2028    B+      B
          Recovery rating                     2       3


STRAWBERRY PARK: 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 Park RV Resort, Inc, 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 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."

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.

The Citizens National Bank, Richard I. Rothstein, and Joseph
Biber, filed an involuntary Chapter 11 petition for Strawberry
Park RV Resort, Inc (Bankr. D. Conn. Case No. 10-24277).


STROBER REAL ESTATE: Case Summary & 5 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Strober Real Estate, LLC
        P.O. Box 177
        Ringoes, NJ 08551

Bankruptcy Case No.: 10-49598

Chapter 11 Petition Date: December 23, 2010

Court: United States Bankruptcy Court
       District of New Jersey (Trenton)

Judge: Raymond T. Lyons Jr.

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

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

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

A list of the Company's five largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/njb10-49598.pdf

The petition was signed by Steven Strober, managing member.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
J. Strober & Sons, LLC                 10-48400   12/13/10


SUNSHINE HOSPITALITY: Case Summary & 20 Largest Unsec Creditors
---------------------------------------------------------------
Debtor: Sunshine Hospitality LLC
        dba Comfort Suites
        1408 Broadway Ave E
        Mattoon, IL 61938

Bankruptcy Case No.: 10-92572

Chapter 11 Petition Date: December 23, 2010

Court: United States Bankruptcy Court
       Central District of Illinois (Danville)

Judge: Gerald D. Fines

Debtor's Counsel: Edward W. Brankey, Esq.
                  Roy J. Dent, Esq.
                  BRANKEY & SMITH, P.C.
                  622 Jackson Ave
                  Charleston, IL 61920
                  Tel: (217) 345-6222
                  E-mail: cwebster@brankeysmithpc.com

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

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

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/ilcb10-92572.pdf

The petition was signed by Surjit Singh, managing member.


SUPERMEDIA INC: S&P Raises Corporate Credit Rating to 'B-'
----------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on Dallas, Texas-based SuperMedia Inc. to 'B-' from 'SD'
(selective default).  The rating outlook is stable.

In addition, S&P raised its issue-level rating on the company's
senior secured credit facility to 'B-' from 'D'.  The recovery
rating on the senior secured debt remains unchanged at '3',
indicating its expectation of meaningful (50% to 70%) recovery for
lenders in the event of a payment default.

SuperMedia, the second-largest directory publisher in the U.S.,
had total debt outstanding of $2.5 billion as of Sept. 30, 2010,
and $2.2 billion after completing the recent tender offer.

"The 'B-' corporate credit rating reflects its view that
SuperMedia will remain under pressure given the challenging
outlook for print directory advertising," said Standard & Poor's
credit analyst Chris Valentine.

S&P expects that deterioration in revenue and profitability could
lead to EBITDA coverage of interest expense in the mid-1x area
over the next two years and a weakening in the company's financial
profile despite a significant reduction in its total indebtedness
as a result of the reorganization plan earlier this year.
SuperMedia will no longer be permitted to make subpar repurchases
of its term debt under the terms of its recently amended credit
agreement.

S&P continue to assess SuperMedia's business risk profile as
vulnerable, principally because of the significant risks of
continued secular declines in the print directory sector.  S&P
views the financial risk profile as highly leveraged, based on
trends of rising leverage associated with the likely steady
erosion of cash flow.

On Dec. 21, 2010, SuperMedia used $185 million of cash to purchase
its term debt at a price of 70% of par, the maximum amount
allowable under its recently amended credit agreement.  After the
tender, the company had $2.2 billion of debt, and its measure of
leverage marginally declined to 3.8x from just under 4.0x.  S&P
viewed the recent subpar repurchase as tantamount to a default,
based on the company's debt leverage and poor operating outlook as
indications of financial distress.


TALON THERAPEUTICS: Amends 2010 Equity Incentive Plan
-----------------------------------------------------
On December 21, 2010, Talon Therapeutics Inc. fka Hana Biosciences
Inc. amended its 2010 Equity Incentive Plan to increase the number
of shares of the Company's common stock reserved for issuance
thereunder to 8,500,000.

In addition, the Company granted 10-year stock options pursuant to
the 2010 Plan to three officers to purchase the number of shares
set forth across from each such person's name.  Each stock option
is exercisable $0.495 per share, the closing sale price of the
Company's common stock on the date of grant, and vest in 48 equal
monthly installments commencing on the first month anniversary of
the grant date.  Each stock option grant is evidenced by a
separate stock option agreement in the Company's standard form for
use under the 2010 Plan.

The recipients of the stock options are:

   Recipient (Position)                        No. Shares
   -------------------                         ----------
   Steven R. Deitcher (President & CEO)        1,635,000
   Craig W. Carlson (Sr. V.P. & CFO)             705,000
   Tyler M. Nielsen (Controller)                  67,500

                      About Hana Biosciences

Hana Biosciences, Inc., is a South San Francisco, California-based
biopharmaceutical company dedicated to developing and
commercializing new, differentiated cancer therapies designed to
improve and enable current standards of care.  The Company
currently has four product candidates in various stages of
development.

As reported in the Troubled Company Reporter on March 29, 2010,
BDO Seidman, LLP, in San Francisco, expressed substantial
doubt about the Company's ability to continue as a going concern,
following its 2009 results.  The independent auditors noted that
the Company has suffered recurring losses from operations and has
a net capital deficiency.

The Company's balance sheet as of June 30, 2010, showed
$39.3 million in total assets, $36.6 million in total liabilities,
$29.9 million in redeemable convertible preferred stock, and a
stockholders' deficit of $27.2 million.


TAMARACK RESORT: Credit Suisse Finds Fault Ski Resort Sale
----------------------------------------------------------
Tamarack Resort LLC's plan to sell its Idaho ski destination for
$40 million has sparked the ire of lender Credit Suisse AG, which
insists the proposed transaction is not in the best interest of
the Company or its creditors, Dow Jones' Small Cap reports.

According to the report, Credit Suisse AG, Cayman Islands Branch
Tuesday expressed its dissatisfaction with Tamarack's bid to sell
its assets to Green Valley Holdings LLC.  Earlier this month, the
report notes, Tamarack entered into a letter of intent to complete
the transaction with Green Valley -- or a higher bidder -- but has
not yet sought approval for the sale process from the bankruptcy
court.

In court papers, Credit Suisse stressed that it was not involved
in the negotiation of the letter of intent, the report says.

                       About Tamarack Resort

Tamarack Resort LLC, a golf and ski resort in Valley County,
Idaho, was sent to Chapter 7 after creditors submitted an
involuntary petition (Bankr. D. Idaho Case No. 09-03911).  The
petitioning creditors include an affiliate of Bank of America
Corp. owed $4.7 million.

On April 9, 2010, Bankruptcy Judge Terry Myers signed an order
converting Tamarack Resort LLC's involuntary chapter 7 case to a
chapter 11 reorganization.

The project's 27.5% owner, VPG Investments Inc., filed for Chapter
11 reorganization in 2008, only to have the petition dismissed in
October 2008 at the request of the secured creditor, Credit
Suisse, Caymans Islands Branch.  VPG was controlled by Mexican
businessman Alfredo Miguel Afif.  Credit Suisse, the agent for the
secured lenders, characterized VPG's Chapter 11 case as "a classic
example of a bad faith filing" made "solely as a litigation
tactic" to stop foreclosure.


TELECONNECT INC: Recurring Losses Prompt Going Concern Doubt
------------------------------------------------------------
Teleconnect Inc. filed on December 27, 2010, its annual report on
Form 10-K for the fiscal year ended September 30, 2010.

Coulter & Justus, P.C., in Knoxville, Tenn., expressed substantial
doubt about the Company's ability to continue as a going concern.
The independent auditors noted that the Company has suffered
recurring losses from operations and has a net capital deficiency
in addition to a working capital deficiency.

The Company reported net income of $1,972,838 on $254,446 of
revenue for fiscal 2010, compared with a net loss of $1,828,443 on
$361,989 of revenue for fiscal 2009.

In 2010, the Company reported a net gain from discontinued
operations of $3,119,901 compared to a net loss of $230,571 during
2009.  The change is a direct result of sale of the remaining
Spanish subsidiaries in 2010.

The Company's balance sheet at September 30, 2010, showed
$1,936,685 in total assets, $3,447,165 in total liabilities, all
current, and a stockholders' deficit of $1,510,480.

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

               http://researcharchives.com/t/s?7181

Based in Breda, in The Netherlands, Teleconnect Inc. (OTC BB:
TLCO) Teleconnect Inc. (initially named Technology Systems
International Inc.) was incorporated under the laws of the State
of Florida on November 23, 1998.

Serving as a telecommunications service provider in Spain for
almost 9 years, the Company never fully reached expectations and
decided late in 2008 to change its course of business.  In
November 2009, 90% of the Company's telecommunication business was
sold to a Spanish group of investors, and on October 15, 2010, the
Company completed the acquisition of Hollandsche Exploitatie
Maatschappij BV (HEM), a Dutch entity established in 2007.  HEM's
core business involves the age validation of consumers when
purchasing products which cannot be sold to minors, such as
alcohol or tobacco.  The Company regards this age validation
business as its new strategic direction.  The Dutch companies
acquired in 2007 (Giga Matrix, The Netherlands, 49% and Photowizz,
The Netherlands, 100%) are considered to function complementary to
this new service offering.

Through the purchase of HEM and its ownership in Photowizz and
Giga Matrix the Company now controls all four pillars under its
business model: the manufacturing and leasing of electronic age
validation equipment, the performance of age validation
transactions remotely, the performance of market surveys and the
broadcasting of in-store commercial messages using the age
validation equipment in between age checks.


TERI FREITAS: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Teri Keonaona Freitas
        81-6632 Alalani Street
        Kealakekua, HI 96750

Bankruptcy Case No.: 10-03904

Chapter 11 Petition Date: December 27, 2010

Court: United States Bankruptcy Court
       District of Hawaii (Honolulu)

Judge: Robert J. Faris

Debtor's Counsel: Diana Danmeyer, Esq.
                  DIANA DANMEYER, AAL
                  73-1101 Alihilani Drive
                  Kailua-Kona, HI 96740
                  Tel: (808) 960-4289
                  Fax: (808) 315-7632
                  E-mail: drdgaspar@hotmail.com

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

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

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


TERRESTAR NETWORKS: Files Final Versions of Plan & Disc. Statement
------------------------------------------------------------------
To provide clarity to all parties-in-interest, the Debtors
delivered to the U.S. Bankruptcy Court for Southern District of
New York the solicitation versions of the Joint Chapter 11 Plan
of TerreStar Networks, Inc.; TerreStar National Services, Inc.;
0887729 B.C. Ltd.; TerreStar Licenses Inc.; TerreStar Networks
Holdings (Canada) Inc.; and TerreStar Networks (Canada) Inc. and
its corresponding Disclosure Statement.

The Disclosure Statement has been approved by the Court as
containing "adequate information" pursuant to Section 1125(a) of
the Bankruptcy Code.  Judge Sean Lane entered the Disclosure
Statement approval order on December 22, 2010.

The solicitation versions of the Plan and Disclosure Statement
contain changes made after the previous versions were filed on
December 17, 2010.

Among other things, the changes include:

  -- the change of Class 6(b)'s status from "unimpaired" to
     "impaired" because the TSN Debtors reserved the right to
     treat holders of Class 6(b) Claims, at the Confirmation
     Hearing, as "unimpaired" and conclusively presumed to have
     accepted the Plan pursuant to Section 1126(f) of the
     Bankruptcy Code.  Specifically, in the event that the
     aggregate amount of Allowed Class 6(b) Claims is $38
     million or less, holders of Allowed Class 6(b) Claims will
     receive payment in full and will therefore be Unimpaired;

  -- the addition of a provision that the TSN Debtors will file
     a list of the executory contracts and unexpired leases they
     intend to reject no later than February 7, 2011; and

  -- the inclusion of a note revealing that Sprint Nextel
     commenced an adversary proceeding against the indenture
     trustee for the Debtors' Senior Secured Notes.

Full-text copies of the Solicitation Versions of the Plan and
Disclosure Statement are available for free at:

            http://bankrupt.com/misc/TSNFinalPlan.pdf
             http://bankrupt.com/misc/TSNFinalDS.pdf

                     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: Committee Files Motion on Confidential Info.
----------------------------------------------------------------
The Official Committee of Unsecured Creditors in TerreStar
Networks Inc.'s cases seeks an order from the Bankruptcy Court
determining that it is not authorized or required to provide
access to confidential information or privileged information
pursuant to Section 1102(b)(3)(A) of the Bankruptcy Code to any
creditor that it represents.

"Such relief is not only in the best interests of the [Debtors']
estates, but also will protect the Committee by making clear that
it is not violating the Bankruptcy Code by refusing to provide
such information to creditors," David M. Posner, Esq., at
Otterbourg Steindler Houston & Rosen P.C., in New York, contends,
on behalf of the Committee.

Section 1102(b)(3) provides that an official committee appointed
under Section 1102(a) will "provide access to information for
creditors who hold claims of the kind represented by that
committee; but does not indicate how an official committee should
provide access to "information," and, more importantly, does not
indicate the nature, scope, or extent of the "information" that
an official committee must provide to creditors who hold claims
of the kind represented by such committee.

The Debtors are in a competitive industry and are currently
engaged in a marketing-and-sales process, Mr. Posner tells the
Court.  The dissemination of Confidential Information to parties
who are not bound by any confidentiality agreement directly with
the Debtors, he asserts, could have serious negative consequences
for the Debtors.

If the Debtors' general creditors could require the Committee to
give them access to Confidential Information in the possession of
the Committee, the information easily could become public
immediately thereafter, Mr. Posner points out.

The public dissemination of Confidential Information would likely
cause serious harm to the Debtors' estates because, among other
things, the Debtors' business strategies and intended initiatives
would become known to the Debtors' competitors, thereby allowing
such competitors to adjust to the Debtors' strategies and reduce
or eliminate the value of the initiatives to the estates," Mr.
Posner emphasizes.

Moreover, if there is a risk that Confidential Information given
by the Debtors to the Committee could have to be turned over to
any creditor or claimholder, the Debtors would be highly
discouraged from giving Confidential Information to the Committee
in the first place, Mr. Posner says.  In turn, he points out, the
inability of the Committee to gain access to Confidential
Information could limit its ability to fulfill its statutory
obligations under the Bankruptcy Code.

The Committee's request does not mean that the Committee will not
be providing information to its constituents pursuant to Section
1103(b)(3)(A) of the Bankruptcy Code, Mr. Posner clarifies.  The
Committee believes that creditors and other claimholders will,
through various means, have access to a variety of public
information concerning the Debtors, including pleadings filed
with the Court, the Debtors' schedules and statements of
financial affairs, and the Debtors' monthly operating reports.

                     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: Objects to Sprint Nextel's Claims
-----------------------------------------------------
TerreStar Networks Inc. and its units seek the entry of a
Bankruptcy Court order expunging, disallowing, or reducing Sprint
Nextel Corporation's Claim Nos. 49 through 52, 66 through 70, and
79 through 82.

Ira S. Dizengoff, Esq., at Akin Gump Strauss Hauer & Feld LLP, in
New York, contends that by filing identical claims aggregating
more than $104 million against each of the TSN Debtors, Sprint
Nextel opportunistically and inequitably is attempting to turn
the bankruptcy claims process "on its head and create claims that
did not previously exist, either legally or factually."

Instead of filing a single proof of claim against TerreStar
Networks Inc., the one debtor entity against which Sprint Nextel
sought reimbursement for certain expenses pursuant to Federal
Communications Commission orders through prepetition litigation,
Sprint Nextel for the first time asserts that each of the Debtors
is jointly and severally liable to it for the reimbursement, Mr.
Dizengoff points out.

Mr. Dizengoff asserts that the reason for Sprint Nextel's new
approach is clear -- as an unsecured creditor of TSN, Sprint is
behind close to $1 billion in secured debt obligations, and may
not receive a large recovery on its claim, whereas at other
debtor entities, unsecured creditors might obtain a larger
recovery.

Sprint Nextel does not have a claim against any of the TSN
Debtors, other than TerreStar Networks, Inc. and TerreStar
License, Inc., Mr. Dizengoff argues.

He relates that Sprint's claim for reimbursement of certain
expenses depends on, relates to, and arises out of a long history
of FCC regulatory rulings and civil litigation.  In 2004, the FCC
allowed Sprint to exchange certain of its existing 800 MHz
spectrum licenses for new licenses in the 800 MHz band and for a
license to use certain spectrum in the 2 GHz band.  In exchange
for its new spectrum license rights, Sprint agreed to undertake
the obligation to relocate existing users in the 800 MHz band and
certain Broadcast Auxiliary Service licensees in the
GHz band.  Because the 2 GHz spectrum Sprint received was
significantly more valuable than the spectrum it gave up, the FCC
required Sprint to make a payment to the United States Treasury
of roughly $2.8 billion at the conclusion of the relocation
process.  Sprint, however, is allowed to deduct all of its 2 GHz
band-clearing costs, plus certain other costs, from the roughly
$2.8 billion Anti-Windfall Payment.  Sprint is also allowed to
seek reimbursement from Mobile Satellite Service licensees under
certain circumstances for each of the MSS Licensees' pro rata
share of eligible band-clearing costs attributable to relocating
BAS licenses instead of receiving a credit for those costs
against the Anti-Windfall Payment.

"That reimbursement is what Sprint is attempting to recover
through its Proofs of Claim," Mr. Dizengoff says.

On June 25, 2008, Sprint filed a lawsuit in the United
States District Court for the Eastern District of Virginia naming
TSN and New ICO Satellite Services G.P. n/k/a DBSD North America,
Inc., but no other Debtor, as defendants.  In the Sprint
Litigation, Sprint sought the MSS Reimbursement against TSN and
DBSD.  The Sprint Litigation was stayed without any finding by
the Virginia Court of liability to Sprint by TSN or DSBD, and all
of the claims were referred to the FCC for resolution.

On September 29, 2010, the FCC issued a declaratory ruling, which
allegedly gave certain guidance regarding potential liability for
the MSS Reimbursement but did not uphold Sprint's claims against
any entity or otherwise provide a resolution to the claims.  In
the 2010 Declaratory Ruling, and according to Sprint, the FCC
espoused certain guidelines for enterprise liability; however,
FCC never once used the words "joint" and "several liability"
when discussing the "enterprise liability" concept, Mr. Dizengoff
points out.

The 2010 Declaratory Ruling is now on appeal to the United States
Court of Appeals for the District of Columbia Circuit, and the
petitioner's brief is currently due in early 2011.

Not only did the 2010 Declaratory Ruling fail to provide a final
resolution to Sprint's alleged claim against TSN or even remotely
discuss the concept of joint and several liability, but it also
did not address the liability of any other Non-TSN Debtor because
that issue was not before the FCC, Mr. Dizengoff contends.  He
adds that not once, either before or after the 2010 Declaratory
Ruling, did Sprint attempt to amend the Sprint Litigation to name
any Debtor other than TSN as a defendant nor did Sprint ever
assert that any Debtor, other than TSN, was liable for the MSS
Reimbursement prior to filing its proofs of claim.

"Despite all of this, Sprint now claims that all of the TSN
Debtors are jointly and severally liable to Sprint for the MSS
Reimbursement," Mr. Dizengoff says.

To support its assertion, Sprint relies on the 2010 Declaratory
Ruling's discussion of Sprint's allegation that DBSD's parent
entity, which was not a Chapter 11 debtor, should be liable for
the claims brought against its bankrupt subsidiary.

Sprint's reliance is misplaced, Mr. Dizengoff argues, because
enterprise liability does not seek to make a parent corporation
liable for the actions of its subsidiary, but rather recognizes
in appropriate cases that the parent is liable for its own
actions as part of the overall enterprise that it has created and
operated.

In contrast, in the current case, Sprint is trying to use the
2010 Declaratory Ruling's standard to create liability not for
the licensee's direct parent, but for all of the Non-TSN Debtors,
Mr. Dizengoff cites.  "Sprint's reliance on the 2010 Declaratory
Ruling for this purpose is legally and factually misplaced," he
maintains.

                     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 for Blackstone as Fin'l Advisor
-----------------------------------------------------------------
TerreStar Networks Inc. and its units received final approval to
employ Blackstone Advisory Partners L.P. as their financial
advisor nunc pro tunc to the Petition Date.

Jeffrey Epstein, TerreStar Networks, Inc.'s president and chief
executive officer, relates that the Debtors selected Blackstone
in April 2010 after interviewing several other potential
candidates and considering the qualifications and proposed
compensation of each candidate.  He adds that the Debtors have
been working closely with the Advisor since that time and
Blackstone has become intimately familiar with the Debtors'
business, affairs, assets and contractual arrangements.

As the Debtors' financial advisor, Blackstone will:

  (a) assist in the evaluation of the Debtors' business and
      prospects;

  (b) assist in the development of the Debtors' long-term
      business plan and related financial projections;

  (c) assist in the development of financial data and
      presentations to the Debtors' Board of Directors, various
      creditors and other third parties;

  (d) analyze various restructuring scenarios and the potential
      impact of the scenarios on the recoveries of various
      stakeholders impacted by the restructuring;

  (e) provide strategic advice with regard to restructuring or
      refinancing the Debtors' obligations;

  (f) evaluate the Debtors' debt capacity and alternative
      capital structures;

  (g) participate in negotiations among the Debtors and their
      creditors, suppliers, lessors and other interested
      parties;

  (h) value securities offered by the Debtors in connection with
      a restructuring;

  (i) advise the Debtors and negotiate with lenders with respect
      to potential waivers or amendments of various debt
      instruments and preferred stock;

  (j) advise and assist the Debtors in evaluating a potential
      financing, contact potential sources of capital and assist
      the Debtors in negotiating and consummating financing;

  (k) analyze the Debtors' financial liquidity and evaluate
      alternatives to improve liquidity;

  (l) assist in arranging debtor-in-possession financing for the
      Debtors;

  (m) provide expert witness testimony concerning any financial
      advisory services provided by the Advisor;

  (n) provide general advice on asset sale alternatives; and

  (o) provide other advisory services as are customarily
      provided in connection with the analysis and negotiation
      of a restructuring as reasonably requested.

The Debtors propose to pay Blacstone's fees and compensate
necessary out-of-pocket expenses according to this fee structure:

  (a) A monthly advisory fee of $200,000.  One-half of each
      Monthly Fee in excess of the first $800,000 in monthly
      fees will be credited against the transaction fee;

  (b) A transaction fee equal to $8,400,000 payable upon the
      consummation of any restructuring pursuant to a bankruptcy
      proceeding;

  (c) A DIP financing fee of 1% of the face amount of any new
      DIP financing provided by a non-affiliate arranged by the
      Advisor;

  (d) A debt financing fee of 1% of the face amount of any new
      debt financing provided by a Non-Affiliate arranged by the
      Advisor in connection with a plan of reorganization;

  (e) An equity financing fee of 3% of the total amount of new
      equity financing provided by a non-affiliate and arranged
      by Blackstone in connection with a plan of reorganization;
      and

  (f) Reasonable out-of-pocket expenses in connection with the
      services provided.

Mr. Epstein reveals that before the Petition Date and under the
terms of its engagement, the Debtors paid Blackstone $1,317,054
for services rendered from April 2010 to October 2010 and for
related reasonable out-of-pocket expenses.

In connection with the engagement, the Debtors and Blackstone
also entered into an indemnification agreement, where the Debtors
agreed to indemnify and hold harmless Blackstone and its
affiliates and their partners, members, officers, directors,
employees and agents and each other person, if any, related to,
arising out of or in connection with the retention of the Advisor
by the Debtor.  Nevertheless, these conditions apply to the
parties' Indemnification Agreement:

  (a) All requests of Indemnified Persons for payment of
      indemnity, contribution or otherwise pursuant to the
      indemnification provisions of the Indemnification
      Agreement will be made by means of an interim or final fee
      application and will be subject to the approval of, and
      review by, the Court to ensure that the payment conforms
      to the terms of the Indemnification Agreement, the
      Bankruptcy Code, the Federal Rules of Bankruptcy
      Procedure, the Local Rules of Bankruptcy Procedure for the
      Southern District of New York and the orders of the Court
      and is reasonable based upon the circumstances of the
      litigation or settlement in respect of which indemnity is
      sought; provided, however, that in no event will an
      Indemnified Person be indemnified or receive contribution
      to the extent that any claim or expense has resulted from
      gross negligence or willful misconduct on the part of that
      or any other Indemnified Person.

  (b) In no event will an Indemnified Person be indemnified or
      receive contribution or other payment under the
      Indemnification Agreement if the Debtors, their estates,
      or the official committee of unsecured creditors assert a
      claim, to the extent that the Court determines by final
      order that the claim arose out of gross negligence, or
      willful misconduct on the part of that or any other
      Indemnified Person.

  (c) In the event an Indemnified Person seeks reimbursement for
      attorneys' fees from the Debtors pursuant to the
      Indemnification Agreement, the invoices and supporting
      time records from the attorneys will be annexed to
      Blackstone's own interim and final fee applications, and
      the invoices and time records will be subject to the U.S.
      Trustee Guidelines and the approval of the Court under the
      standards of Section 330 of the Bankruptcy Code without
      regard to whether the attorney has been retained under
      Section 327 of the Bankruptcy Code.

Stevin Zelin, a senior managing director of Blackstone, assures
the Court that his firm is a "disinterested person" as the 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)


TERRESTAR NETWORKS: Committee Proposes Sheppard as FCC Cousnel
--------------------------------------------------------------
The Official Committee of Unsecured Creditors for TerreStar
Networks Inc. asks the Bankruptcy Court for authority to
retain Sheppard Mullin Richter & Hampton LLP, effective as of
November 11, 2010, as its special Federal Communications
Commission and satellite-related counsel.

As a satellite communications company, the Debtors are subject to
regulation and oversight by the FCC.

The Committee points out that the Debtors' cases involve complex
FCC regulatory and satellite-related issues which are central to
their bankruptcy cases, and which will have a material impact on
the value of their estates.  As the outcome of issues involving
the Debtors directly impact the recovery available to creditors
as well as the timing of any recovery, the Committee asserts that
it must ensure that those matters receive appropriate attention
and that it provide input as needed to move in the appropriate
direction.

The Committee explains that it has selected Sheppard Mullin to
provide general advice concerning FCC regulatory and satellite-
related bankruptcy issues because of the firm's extensive
experience and widely recognized reputation and expertise in FCC
regulatory issues, its expertise in satellite-related issues, and
its expertise in satellite-related bankruptcy law.

The Debtors propose to pay for Sheppard Mullin's services based
on the firm's hourly rates in addition to reimbursing the firm
for its necessary out-of-pocket expenses.

The Sheppard Mullin professionals used in the engagement and
their hourly rates are:

      Brian Weimer (Partner)             $565
      Ed Tillinghast (Partner)           $800
      Malika Levarlet (Associate)        $365
      Dan Brooks (Associate)             $270

Brian Weimer, Esq., a member of Sheppard Mullin, assures the
Court that his firm is a "disinterested person" as the 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)


TERRESTAR NETWORKS: Committee Proposes Cassels as Canadian Counsel
------------------------------------------------------------------
The Official Committee of Unsecured Creditors for TerreStar
Networks Inc. and its units seeks the Bankruptcy Court's authority
to retain Cassels Brock & Blackwell LLP as its Canadian counsel
effective as of November 10, 2010.

The professional services that Cassels Brock is contemplated to
render to the Committee include, but is not limited to:

  (a) representing the Committee at hearings in the proceeding
      commenced in Canada by the Canadian Debtor affiliates
      under the Companies' Creditors Arrangement Act in Toronto,
      Ontario and any other related proceedings;

  (b) reviewing and analyzing all pleadings, orders, statements
      of operations, schedules, and other legal documents in the
      Canadian Proceeding or any other proceedings in Canada
      relating to the Debtors, the Canadian Debtor Affiliates or
      any of their respective property, assets or businesses;

  (c) reporting to and advising the Committee and its United
      States' professional advisors regarding the ramifications
      of proceedings before the Canadian Court in relation to
      the Debtors' Chapter 11 cases;

  (d) advising the Committee and its U.S. Advisors on matters
      involving Canadian Law and practice and any proposed asset
      dispositions relevant to the Debtors' Chapter 11 cases;

  (e) assisting the U.S. Advisors in their analysis of and
      negotiations with, the Debtors, the Canadian Debtor
      Affiliates or any third party concerning matters related
      to, among other things, the disposition of assets and
      formulating the terms of any plan or plans of
      reorganization for the Debtors and the Canadian Debtor
      Affiliates;

  (f) assisting with the Committee's investigation of the
      Canadian Debtor Affiliates' assets, liabilities,
      intercompany loans financial condition and dealings with
      the Debtors;

  (g) assisting the Committee and its U.S. Advisors in analyzing
      the claims of the creditors of the Canadian Debtor
      Affiliates and the U.S. Debtors;

  (h) preparing on behalf of the Committee any pleadings,
      orders, reports and other legal documents as may be
      necessary in furtherance of the Committee's interest and
      objectives;

  (i) assisting and advising the Committee and the U.S. Advisors
      with respect to any matters that they may request; and

  (j) performing all other legal services as described by the
      Committee and its U.S. Advisors, which may be necessary
      and proper for the Committee to discharge its duties in
      the Chapter 11 cases.

The Committee proposes that Cassels Brock be paid for its
services based on the firm's hourly rates, which are:

           Partner/Counsel             $495 to $895
           Associate                   $300 to $525
           Law Clerk                    $80 to $365

The firm will also be reimbursed for its necessary out-of pocket
expenses.

David S. Ward, Esq., a member of Cassels Brock, assures the Court
that his firm is a "disinterested person" as the 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)


TIB FINANCIAL: Gets Noncompliance Letter From NASDAQ Stock Market
-----------------------------------------------------------------
On December 27, 2010, TIB Financial Corp. received written notice
from the NASDAQ Stock Market that it no longer meets the minimum
750,000 publicly held shares requirement for The  NASDAQ Global
Select Market under Listing Rule 5450(b)(1)(B).  For purposes of
the listing requirement, publicly held shares means total shares
outstanding less any shares held by officers, directors, or
beneficial owners of 10 percent or more.

The Company has advised the Nasdaq of its plan to regain
compliance.  Based on the Company's plan, the Nasdaq may, in its
discretion, grant the Company an extension period during which the
Company may demonstrate evidence of compliance.  Specifically, the
Company is currently engaged in a previously announced
subscription rights offering, in which 1,488,792 shares of the
Company's common stock are being offered to holders of record of
the Company's common stock as of 4:01 p.m., New York City time, on
July 12, 2010.

If a sufficient number of shares of common stock being offered
in the rights offering are purchased by persons who are not
officers or directors of the Company, the Company would meet the
requirement to have 750,000 publicly held shares outstanding.  If
the NASDAQ's publicly held shares requirement is not met as a
result of subscriptions in the rights offering or otherwise, there
can be no assurance that the Company will be able to maintain its
listing on the NASDAQ.

                     About TIB Financial Corp.

Headquartered in Naples, Florida, TIB Financial Corp.
-- http://www.tibfinancialcorp.com/-- is a financial services
company with approximately $1.7 billion in total assets and 28
full-service banking offices throughout the Florida Keys,
Homestead, Naples, Bonita Springs, Fort Myers, Cape Coral and
Venice.  TIB Financial Corp. is also the parent company of Naples
Capital Advisors, Inc., a registered investment advisor with
approximately $169 million of assets under advisement.  TIB
Financial Corp., through its wholly owned subsidiaries, TIB Bank
and Naples Capital Advisors, Inc., serves the personal and
commercial banking and investment management needs of local
residents and businesses in its market areas.

The Company's balance sheet as of September 30, 2010, showed
$1,740,891,000 in total assets, $1,563,826,000 in total
liabilities, and $177,065,000 in stockholders' equity.

                          *     *     *

As reported in the Troubled Company Reporter on April 6, 2010,
Crowe Horwath LLP, in Fort Lauderdale, Fla., expressed substantial
doubt about the Company's ability to continue as a going concern,
following its 2009 results.  The independent auditors noted that
the Company incurred net losses in 2009, 2008 and 2007, primarily
from loan and investment impairments.  In addition, the Company's
bank subsidiary is operating under an informal agreement with bank
regulatory agencies that requires, among other provisions, higher
regulatory capital requirements.  The Bank did not meet the higher
capital requirement as of December 31, 2009, and therefore is not
in compliance with the regulatory agreement.  Failure to comply
with the regulatory agreement may result in additional regulatory
enforcement actions.


TOM JUNKOVIC: Section 341(a) Meeting Scheduled for Feb. 2
---------------------------------------------------------
The U.S. Trustee for Region 11 will convene a meeting of Tom
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, IL 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.

Park Ridge, Illinois-based Tom Junkovic filed for Chapter 11
bankruptcy protection on December 20, 2010 (Bankr. N.D. Ill. Case
No. 10-55896).  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 as of
the Petition Date.


TOTAL SAFETY: S&P Raises Rating on First-Lien Credit Loan to 'B'
----------------------------------------------------------------
Standard & Poor's Ratings Services said that it raised its issue
rating on Total Safety U.S. Inc.'s first-lien credit facility to
'B' (one notch above the corporate credit rating) from 'B-'.  The
facility consists of a $15 million revolver and an $85 million
term loan.  The recovery rating was revised to '2', indicating its
expectation of substantial recovery (70% to 90%) in a default,
from '3'.  The rating revision reflects an increased valuation at
emergence in its default scenario.

The corporate credit rating on Houston-based Total Safety is 'B-'
and the outlook is stable.

The ratings on Total Safety reflect the company's aggressive
financial leverage and niche business position in the fragmented
market for safety equipment and maintenance services for cyclical
oil and gas end markets.  The ratings also reflect a diversified
customer base, low volatility in demand for product and services,
and low capital spending requirements.

                           Ratings List

                      Total Safety U.S. Inc.

         Corporate credit rating             B-/Stable/--

                          Revised Ratings

                                            To         From
                                            --         ----
        First-lien credit facility          B          B-
         Recovery rating                    2          3


TOUSA INC: U.S. Trustee Objects to Creditors' Disclosure Statement
------------------------------------------------------------------
BankruptcyData.com reports that the U.S. Trustee assigned to the
TOUSA Inc. case filed with the U.S. Bankruptcy Court a limited
objection to the Disclosure Statement filed by the committee of
unsecured creditors.

"The United States Trustee is filing this objection with a
reservation to supplement further as additional information is
made available.  It is anticipated that there will be several more
revisions to the documents as the mediation process and appeals
process move forward and matters are resolved either through
negotiation and settlement of the parties or final non appealable
orders, and the United States Trustee reserves the right to raise
additional arguments," Trustee said in the objection, according to
BData.

                          About Tousa Inc.

Headquartered in Hollywood, Florida, TOUSA Inc. (Pink Sheets:
TOUS) -- http://www.tousa.com/-- fka Technical Olympic U.S.A.
Inc., dba Technical U.S.A., Inc., Engle Homes, Newmark Homes L.P.,
TOUSA Homes Inc. and Newmark Homes Corp. is a leading homebuilder
in the United States, operating in various metropolitan markets in
10 states located in four major geographic regions: Florida, the
Mid-Atlantic, Texas, and the West.

The Debtor and its debtor-affiliates filed for separate
Chapter 11 protection on January 29, 2008 (Bankr. S.D. Fla. Case
No. 08-10928).  The Debtors have selected M. Natasha Labovitz,
Esq., Brian S. Lennon, Esq., Richard M. Cieri, Esq., and Paul M.
Basta, Esq., at Kirkland & Ellis LLP; and Paul Steven Singerman,
Esq., at Berger Singerman, to represent them in their
restructuring efforts.  Lazard Freres & Co. LLC is the Debtors'
investment banker.  Ernst & Young LLP is the Debtors' independent
auditor and tax services provider.  Kurtzman Carson Consultants
LLC acts as the Debtors' Notice, Claims & Balloting Agent.

TOUSA's direct subsidiary, Beacon Hill at Mountain's Edge LLC dba
Eagle Homes, filed for Chapter 11 Protection on July 30, 2008
(Bankr. S.D. Fla. Case No. 08-20746).  It estimated assets and
debts of $1 million to $10 million in its Chapter 11 petition.


TOWNSENDS INC: Taps SSG Capital as Investment Banker
----------------------------------------------------
Townsends, Inc., et al., ask for authorization from the U.S.
Bankruptcy Court for the District of Delaware to employ SSG
Capital Advisors, LLC, as investment banker to the Debtors, nunc
pro tunc to the Petition Date.

SSG will, among other things:

     a. prepare an information memoranda describing the Debtors,
        their historical performances and prospects, including
        existing contracts, marketing and sales, labor force, and
        management and anticipated financial results of the
        Debtors;

     b. assist the Debtors in developing a list of suitable
        potential buyers who will be contacted on a discreet and
        confidential basis after approval by the Debtors;

     c. coordinate the execution of confidentiality agreements for
        potential buyers wishing to review the information
        memoranda; and

     d. assist the Debtors in coordinating site visits for
        interested buyers and work with the management team to
        develop appropriate presentations for the visits.

SSG will be paid: (i) a monthly fee equal to $50,000 per month
payable beginning January 1, 2011, and continuing on the 1st of
each month thereafter during the engagement term; (ii) upon the
consummation of a sale transaction, a sale fee payable in cash, in
federal funds via wire transfer or certified check, at, and as a
condition of, closing the transaction, equal to the greater of
$450,000 or 1.50% of total consideration, up to $40 million plus
2.5% of total consideration between $40 million and $50 million
plus 3.5% of total consideration in excess of $50 million; and
(iii) reimbursement for all reasonable and customary out of pocket
expenses incurred.

J. Scott Victor, founding member and managing director of SSG,
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.


TRIBUNE CO: Bank Debt Trades at 32% Off in Secondary Market
-----------------------------------------------------------
Participations in a syndicated loan under which Tribune Co. is a
borrower traded in the secondary market at 68.57 cents-on-the-
dollar during the week ended Friday, December 31, 2010, according
to data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 0.71 percentage
points from the previous week, The Journal relates.  The Company
pays 300 basis points above LIBOR to borrow under the facility.
The bank loan matures on May 17, 2013.  Moody's has withdrawn its
rating on the bank debt.  The loan is one of the biggest gainers
and losers among 187 widely quoted syndicated loans with five or
more bids in secondary trading for the week ended Friday.

About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection on December 8, 2008 (Bankr. D. Del. Lead Case No. 08-
13141).  The Debtors proposed Sidley Austin LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. And Alvarez & Marsal North America LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of December 8, 2008, the Debtors have $7,604,195,000 in total
assets and $12,972,541,148 in total debts.

Chadbourne & Parke LLP and Landis Rath LLP serve as co-counsel to
the Official Committee of Unsecured Creditors.  AlixPartners LLP
is the Committee's financial advisor.  Landis Rath Moelis &
Company serves as the Committee's investment banker.  Thomas G.
Macauley, Esq., at Zuckerman Spaeder LLP, in Wilmington, Delaware,
represents the Committee in connection with the lawsuit filed
against former officers and shareholders for the 2007 LBO of
Tribune.

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


TSS CONSTRUCTION: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: TSS Construction, Inc.
        10008 Johns Rd.
        Boerne, TX 78006

Bankruptcy Case No.: 10-54931

Chapter 11 Petition Date: December 27, 2010

Court: United States Bankruptcy Court
       Western District of Texas (San Antonio)

Judge: Leif M. Clark

Debtor's Counsel: David T. Cain, Esq.
                  LAW OFFICE OF DAVID T. CAIN
                  8610 N New Braunfels, Suite 309
                  San Antonio, TX 78217
                  Tel: (210) 308-0388
                  Fax: (210) 341-8432
                  E-mail: caindt@swbell.net

Estimated Assets: $0 to $50,000

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

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

The petition was signed by Venis J. Hipp, president.


TWIN LAKES: Case Summary & 11 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Twin Lakes Business Park, LLC
        1675 Larimer Street, Suite 700
        Denver, CO 80202

Bankruptcy Case No.: 10-41997

Chapter 11 Petition Date: December 23, 2010

Court: United States Bankruptcy Court
       District of Colorado (Denver)

Judge: A. Bruce Campbell

Debtor's Counsel: F. Kelly Smith, Esq.
                  LAW OFFICES OF F. KELLY SMITH
                  216 16th St., Ste. 1210
                  Denver, CO 80202
                  Tel: (303) 592-1650
                  Fax: (303) 592-1701
                  E-mail: fkellysmith@tde.com

Scheduled Assets: $5,100,817

Scheduled Debts: $4,121,638

A list of the Company's 11 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cob10-41997.pdf

The petition was signed by R. Brian Watson, manager.


TWIN LAKES: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Twin Lakes Golf Club, Inc.
        fdba The Birdie Boys, Inc.
        211 Golfview Dr.
        Arab, AL 35016

Bankruptcy Case No.: 10-85138

Chapter 11 Petition Date: December 27, 2010

Court: United States Bankruptcy Court
       Northern District of Alabama (Decatur)

Debtor's Counsel: Stuart M. Maples, Esq.
                  MAPLES & RAY, PC
                  401 Holmes Ave., Suite H
                  Huntsville, Al 35801
                  Tel: (256) 489-9779
                  Fax: (256) 489-9720
                  E-mail: smaples@maplesandray.com

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

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

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/alnb10-85138.pdf

The petition was signed by Gene Diamond, president.


UNI-PIXEL INC: Osmium Special Discloses 7.15% Equity Stake
----------------------------------------------------------
In a Schedule 13G filing with the Securities and Exchange
Commission on December 22, 2010, Osmium Special Situations Fund
Ltd., disclosed that it beneficially owns 509,600 shares of common
stock of Uni-Pixel, Inc. representing 7.15% of the shares
outstanding.  Each of Osmium Capital Management, Ltd. and Chris
Kuchanny own 509,600 shares.

As of October 29, 2010, the Company had 52,100,535 shares of
issued and outstanding common stock, par value $0.001 per share.

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: To Reduce Capacity, Says Analyst
----------------------------------------------------
United Continental Holdings Inc. will trim capacity in Chicago and
Denver in its first network adjustments after the merger, Mary
Jane Credeur of Bloomberg News reported, citing a Hudson
Securities analyst.

Hudson Securities analyst Daniel McKenzie wrote in a note to
clients that the merged airline's available seats in the U.S. will
be down 1.9% in the first quarter while the rest of the U.S.
carriers will collectively boost capacity to about 2%, Bloomberg
disclosed.  "United Continental management appears serious about
continuing to cut unprofitable, domestic flying," Mr. McKenzie
wrote, says the report.  The move will help the company post first
quarter earnings of 20 cents a share, its first profit in that
period since 2000, the report added, citing the analyst's note.

The combined airline will trim first quarter capacity 1.8% at
Chicago O'Hare, 5.6% at Denver, 9.9% at Phoenix, 6.9% at Seattle
and 2.8% at Los Angeles, Mr. McKenzie elaborated.

According to Mike Trevino, a spokesperson for United Continental,
the company has not announced capacity plans for the quarter,
Bloomberg related.  Mr. Trevino further noted that the company
plans to increase available seats by as much as 2% for next year,
citing an October 21, 2010 forecast.

In addition, United Continental intends to boost capacity by about
3% at Houston and 12% at LaGuardia, Mr. McKenzie related,
Bloomberg said.

                  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: Seeks Runways Construction Delay at O'Hare
--------------------------------------------------------------
United Air Lines, Inc., has urged Chicago officials to push back
their 2014 timetable to complete the $8.5 billion expansion of
O'Hare International Airport, John Pletz and Greg Hinz of Crain
Communications Inc. reported.

United and American Airlines, the airport's other tenant, want to
delay the expansion, which includes construction of two new
runways at the airport, until air travel picks up.

According to the report, traffic at O'Hare remains far below
levels forecast when the project began.  The report further noted
that the flight delays that led to calls for expansion have
improved dramatically since a new runway was constructed two years
ago.  With that, United has gone from second-worst to first in on-
time rankings among the large carriers, the report added.

Messrs. Pletz and Hinz disclosed that a $3.2 billion first phase
of the project, which includes the two new runways and extension
of another runway, is almost finished.  The report said the city
will need about $3.2 billion to $3.5 billion to move two other
runways and extend a third.  However, the airlines, which will pay
65% of the tab through higher landing fees, have opposed the fee
hikes, the report stated.

                  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: Pilots to Ask Mediation on Outsourcing Dispute
------------------------------------------------------------------
Pilots at United Air Lines, Inc., and Continental Airlines, Inc.,
said they would likely ask federal mediators to resolve a dispute
with United Continental Holdings Inc.'s management over outsourced
flying, Doug Cameron of Dow Jones Newswires reported.

The pilots conducted informational picketing against United
Continental's outsourcing flying to other airlines, use of the CO
code on flights from Continental hubs, and use of outsourced 70-
seat jets, in alleged violations of Continental pilots' contracts.

Dow Jones Newswires said the pilots at United and Continental set
December 15, 2010, as a deadline to reach a tentative joint
collective bargaining agreement with management after the
carriers' merger in October 2009.  The parties agreed to apply to
the National Mediation Board for assistance by December 17, 2010,
if no tentative deal is reached, the report noted.

United Continental has insisted the outsourcing does not violate
the pilots' contract, and stated that the parties have agreed to
an expedited and binding arbitration to resolve the dispute, Mr.
Cameron related.

According to another report from Julie Johnsson of Chicago
Tribune, United Continental said it redeploys 70-seaters in some
of hub markets to better meet demand and improve profitability.

                  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: Uses Mobile Computers to Cut Down Long Lines
----------------------------------------------------------------
Agents at United Air Lines, Inc., are using hand-held computers to
cut down long customer service lines at the airport, Wailin Wong
of Chicago Tribune reported.  The devices manufactured by Motorola
and outfitted with LineBuster software enable United's agents to
look up customers' information, scan boarding passes, read credit
cards and determine whether a traveler should stay in line or use
a kiosk, the report related.  United agents can also access flight
information for other airlines, giving stranded passengers an idea
of their options, the report noted.

Chicago Tribune stated that United launched the program this
month, deploying about 40 of the hand-held computers in five hubs:
O'Hare Airport, Denver, Los Angles, San Franciso and Washington
Dulles.  According to Guy Zalel, a project manager for airport
strategy at United, United agents using the devices were able to
clear a line of about 100 people in 20 minutes at O'Hare, the
report added.

In related news, United is dropping its reservations system
created by Travelport Ltd. in favor of a platform provided by
Hewlett-Packard Co., The Wall Street Journal reported.

In addition, United launched a Web site in traditional Chinese to
broaden its range of services for the Chinese market, according to
Taiwan News.  In celebration of the launch, United organized a
lucky draw activity for a round-trip ticket between Taiwan and the
United States, Taiwan News said.

                  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.


US FOODSERVICE: Bank Debt Trades at 9% Off in Secondary Market
--------------------------------------------------------------
Participations in a syndicated loan under which U.S. Foodservice,
Inc., is a borrower traded in the secondary market at 90.98 cents-
on-the-dollar during the week ended Friday, December 31, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 0.34
percentage points from the previous week, The Journal relates.
The Company pays 275 basis points above LIBOR to borrow under the
facility.  The bank loan matures on July 3, 2014, and carries
Moody's B2 rating.  The loan is one of the biggest gainers and
losers among 187 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.

U.S. Foodservice, Inc. -- http://www.usfoodservice.com/-- is a
foodservice supplier serving some 250,000 customers from more than
70 distribution facilities.  The Company supplies restaurants,
hotels, school, and other foodservice operators with a wide
variety of food products, including canned and dry foods, meats,
frozen foods, and seafood.  It also distributes kitchen equipment
and cleaning supplies among other non-food supplies.  U.S.
Foodservice distributes both national brand products and its own
private labels.  Tracing its roots to 1853, the company is owned
by private equity firms KKR & Co. and Clayton, Dubilier & Rice.


WILLIAM MERCUR: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: William Mercur
        516 Monceaux Road
        West Palm Beach, FL 33405

Bankruptcy Case No.: 10-48701

Chapter 11 Petition Date: December 22, 2010

Court: United States Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Erik P. Kimball

Debtor's Counsel: Eric A. Rosen, Esq.
                  ROSEN & WINIG, P.A.
                  2925 PGA Blvd # 100
                  Palm Beach Gardens, FL 33410
                  Tel: (561) 799-6040
                  Fax: (561) 799-4047
                  E-mail: erosen@rosenwinig.com

Scheduled Assets: $611,791

Scheduled Debts: $2,866,457

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/flsb10-48701.pdf


VENTO FAMILY: Issues With Banks Prompted Bankruptcy Filing
----------------------------------------------------------
Kristen MacBeth at BankruptcyHome.com reports that the Vento
Family Trust filed for Chapter 11 bankruptcy after it has been
mired in legal trouble, facing lawsuits from the Community Bank of
Nevada, City National Bank and Nevada Commerce Bank.  City
National filed its lawsuit in September saying Vento and its
companies had defaulted on a $2.7 million loan for the development
of a bar and restaurant.  The bank purchased the property from
another financial group when it entered the foreclosure process in
April, and is now suing for the deficiency balance.  Each of the
banks was mentioned as creditor in the Chapter 11 filing.

Based in Henderson, Nevada, Vento Family Trust filed for Chapter
11 bankruptcy protection on Dec. 27, 2010 (Bankr. D. Nev. Case No.
10-33909).  Judge Mike K. Nakagawa presides over the case.
Timothy S. Cory, Esq., at Tinoth S. Cory & Associates, represents
the Debtor.  The Debtor estimated both assets and debts of between
$10 million and $50 million.


WANNADO CITY THEME PARK: Stampler Auctions to Liquidate Firm
------------------------------------------------------------
Stampler Auctions disclosed that the absolute public auction of
the contents of Wannado City indoor theme park, according to Harry
Stampler, president and auctioneer.

The absolute auction will be held at 12801 West Sunrise Boulevard,
Sawgrass Mills, Anchor D, Sunrise, Fla., beginning at 10:00 a.m.
(EST) on January 11, 2011.  Bidders can bid live on-site and/or
simultaneously on-line at Proxibid.com.  Pre-registration and pre-
approval are required in order to bid online.  More information,
including photographs and inventory, can be found at
http://www.stamplerauctions.com/

Wannado City, a children's role-play theme park, opened in 2004 at
a cost of approximately $40 million.  It was designed as a city
for kids to play in interactive environments as police officers,
reporters and doctors along with dozens of other careers.

Stampler said, "This absolute auction is unique as this is the
only Wannado City that has been developed. Wannado City has chosen
Stampler Auctions to maximize the return via the auction method of
marketing.  Don't miss this opportunity."

Stampler Auctions will sell all non-real property to the highest
bidders on auction day.  Four restaurants, a kiddie amusement
park, a radio station, an operating circus inside the big top and
a Spirit Airlines DC-9 fuselage will all be sold.

Lighting, sound equipment, speakers, props, costumes, lamp posts
and rock climbing walls are only some of the additional assets to
be put under the hammer. Servers, laptops, desktops, and hundreds
of technology items will also be sold.

Stampler Auctions will conduct a sit-down theatre style auction in
the Wannado City "Broadway Theater".  Inspection of the assets
will be held on January 10, 2011 from 9:00 a.m. to 4:00 p.m. and
8:00 a.m. to 10:00 a.m. on auction day.

Stampler Auctions is a full service auction firm and has conducted
auctions in 26 states.  Founded in 1960, South Florida has been
their headquarters since 1985.


WASHINGTON MUTUAL: Settlement Termination Deadline Extended
-----------------------------------------------------------
Tom Hals, writing for Reuters, reports that Washington Mutual Inc.
said in a court filing that the termination date of its settlement
agreement has been extended to January 31, 2011, from December 31,
2010.  Delaware Bankruptcy Judge Mary F. Walrath requested the
extension to give her more time to rule on agreement.

The settlement agreement ended 18 months of legal battles with
JPMorgan Chase & Co. and the Federal Deposit Insurance Corp. and
divided $10 billion of assets among the parties.

As reported by the Troubled Company Reporter on December 23, 2010,
Peg Brickley, writing for Dow Jones' Daily Bankruptcy Review, said
Judge Walrath rejected a request by Washington Mutual shareholders
to make new arguments against the Debtors' Chapter 11 plan.  Judge
Walrath gave no explanation for rejecting the request.  The
official shareholder committee opposed confirmation of the Plan.

The Plan proposes to distribute $7 billion to creditors but wipe
out shareholders.  According to Ms. Brickley, shareholders said
renewed Chapter 11 plan arguments were warranted due to an event
that they contend significantly increases the amount of value
Washington Mutual has to distribute: a delay in the parent
Company's abandonment of its equity stake in WaMu.  Ms. Brickley
said the equity is worthless in and of itself, as WaMu was sold
to J.P. Morgan Chase & Co. after being seized by regulators.
However, it entitles Washington Mutual to take advantage of tax
breaks due to the losses it sustained when the thrift was seized.
By waiting until next year to shed the WaMu equity, Washington
Mutual boosted the size of the tax breaks available to it.

Once out of bankruptcy, Ms. Brickley said, WaMu will continue
to exist as a shell, operating an insurance company in "run-off,"
that is, writing no new business but managing existing policies.
At confirmation hearings, WaMu said it expects the reorganized
company to be able to use $100 million worth of tax breaks to
shelter the income from its severely curtailed continuing
operations.

The plan confirmation trial concluded December 7.  The Troubled
Company Reporter, citing a Dow Jones' Daily Bankruptcy Review
article, reported December 21, 2010, that Judge Walrath said she
won't rule on the Plan this year.

The TCR, citing Reuters, reported that the settlement requires
court approval by December 31 but Judge Walrath said the court
could not meet that deadline.  She ordered the parties to advise
her by December 29 if they would extend the deadline for her
opinion to January 31.

                      About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- is a holding company for Washington Mutual
Bank as well as numerous non-bank subsidiaries.

Washington Mutual Bank was taken over on Sept. 25, 2008, by U.S.
government regulators and sold to JPMorgan Chase & Co. for $1.88
billion.  The next day, WaMu and its affiliate, WMI Investment
Corp., filed separate petitions for Chapter 11 relief (Bankr. D.
Del. 08-12229 and 08-12228, respectively).  WaMu owns 100% of the
equity in WMI Investment.  When WaMu filed for protection from its
creditors, it disclosed assets of $32,896,605,516 and debts of
$8,167,022,695.  WMI Investment estimated assets of $500 million
to $1 billion with zero debts.

WaMu is represented by Brian Rosen, Esq., at Weil, Gotshal &
Manges LLP in New York City; Mark D. Collins, Esq., at Richards,
Layton & Finger P.A. in Wilmington, Del.; and Peter Calamari,
Esq., and David Elsberg, Esq., at Quinn Emanuel Urquhart Oliver &
Hedges, LLP.  Fred S. Hodera, Esq., at Akin Gump Strauss Hauer &
Fled LLP in New York City and David B. Stratton, Esq., at Pepper
Hamilton LLP in Wilmington, Del., represent the Official Committee
of Unseucred Creditors.  Stephen D. Susman, Esq., at Susman
Godfrey LLP and William P. Bowden, Esq., at Ashby & Geddes, P.A.,
represent the Equity Committee.  Stacey R. Friedman, Esq., at
Sullivan & Cromwell LLP and Adam G. Landis, Esq., at Landis Rath &
Cobb LLP in Wilmington, Del., represent JPMorgan Chase, which
acquired WaMu's assets prior to the Petition Date.


WESTINGHOUSE SOLAR: Receives Delisting Notification
---------------------------------------------------
Akeena Solar, Inc. d/b/a Westinghouse Solar received written
notification on December 29, 2010 from the Listing Qualifications
Department of The NASDAQ Stock Market LLC stating that the
Company's common stock is subject to delisting from The NASDAQ
Capital Market, pending the Company's opportunity to request a
hearing before the NASDAQ Listing Qualifications Panel (.

As previously disclosed, on July 2, 2010, the Company received a
notice from the Staff stating that the minimum bid price of the
Company's common stock had been below $1.00 per share for 30
consecutive business days and that the Company was therefore not
in compliance with the minimum bid price requirement for continued
listing on The NASDAQ Capital Market set forth in Listing Rule
5550(a)(2).  The notice indicated that the Company had been
granted 180 calendar days, or until December 28, 2010, to regain
compliance.  The notice received on December 29, 2010 informed the
Company of the Staff Determination that the Company had not
regained compliance with the minimum bid requirement, and that its
common stock is therefore subject to delisting from The NASDAQ
Capital Market.

The Company intends to request a hearing before the Panel to
review the Staff Determination, which will stay any action with
respect to the Staff Determination and allow the continued listing
of the Company's common stock on The NASDAQ Capital Market until
the Panel renders a decision subsequent to the hearing.  At the
hearing, the Company intends to present a plan to regain
compliance and to request that the Panel allow the Company
additional time within which to regain compliance. There can be no
assurance that the Panel will grant the Company's request for
continued listing on The NASDAQ Capital Market.

Westinghouse Solar is a manufacturer and distributor of solar
power systems.  Award winning Westinghouse Solar Power Systems
provide a leading combination of safety, performance and
reliability, while backed by the proven quality of the
Westinghouse name.


WILLIAM MORRISON: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Joint Debtors: William C. Morrison
               Linda J. Stjulian
                aka Linda Morrison
                fka Linda Chestang
               3928 S Camino Ensenada Del Pantano
               Tucson, AZ 85730

Bankruptcy Case No.: 10-41011

Chapter 11 Petition Date: December 27, 2010

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

Judge: Eileen W. Hollowell

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

Scheduled Assets: $1,114,450

Scheduled Debts: $1,732,064

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/azb10-41011.pdf


W.R. GRACE: BNSF & Libby Claimants Object to CNA Settlement
-----------------------------------------------------------
BNSF Railway Company and the Libby Claimants object to W.R. Grace
& Co.'s request for approval of the settlement with The CNA
Companies.

BNSF objects to the Motion on these grounds:

  1. The Settlement Agreement improperly eliminates BNSF's
     rights as a Named Insured to policy proceeds to which the
     Debtors and their estates have no rights.  At a minimum,
     the order and the Debtors' Joint Plan of Reorganization
     must be amended to eliminate any ambiguity.

  2. The Settlement Agreement seeks to extend the channeling
     injunction to the CNA Companies without meeting the
     requirements of Section 524(g) of the Bankruptcy Code.

  3. Rights of contribution and apportionment of fault among
     co-defendants accorded by state law are threatened.

  4. The Settlement Agreement improperly eliminates BNSF's
     rights under the vendor endorsements contained in the Grace
     insurance policies.

The Libby Claimants complain that the proposed settlement purports
to take away from them insurance coverage in which they have
vested rights under non-bankruptcy law and as to which they do not
compete with any other creditors of the Debtors' estate.  Because
there is no aggregate limit to the coverage and, thus, no need for
bankruptcy administration of the proceeds to assure a ratable
distribution to insured claimants, proceeds of that coverage
remain outside the bankruptcy estate and may not be affected by
the proposed settlement, the Libby Claimants assert.

Any order approving the proposed settlement must repair the
deliberate ambiguity in the terms of the Section 524(g) injunction
that the CNA Companies are entitled to receive under the proposed
settlement, the Libby Claimants further assert.  The terms of the
injunction leave open the possibility that the injunction might
protect the CNA Companies not only from insured liabilities
resulting from Grace's conduct but also from independent claims of
the Libby Claimants against the CNA Companies' for their own
misconduct, the Libby Claimants point out.  The Court, the Libby
Claimants argue, must clarify that the injunction will not extend
to insurer wrong-doing claims.

                      The Proposed Settlement

The Troubled Company Reporter reported on the terms of the
settlement with Continental Casualty Company and Continental
Insurance Company on Dec. 8, 2010.

The CNA Companies issued to one or more of the Debtors certain
policies of insurance that provide, or are alleged to provide,
insurance coverage for asbestos-related claims.  These policies
include three primary liability policies and 16 high-level excess
policies.  The excess policies provide a total of approximately
$158 million in aggregate limits for products/completed
operations.

The CNA Companies and the Debtors have been engaged in multiple
coverage litigations over the past 25 years and have previously
entered into five separate settlement agreements that address
certain disputes regarding certain aspects of various of the
policies.  Significant coverage issues, however, remain in dispute
between the parties.  In addition, the CNA Companies have filed
numerous proofs of claim in the Debtors' Chapter 11 cases and have
objected to the confirmation of the Debtors' Plan of
Reorganization.

Following extensive negotiations lasting well over a year, the CNA
Companies and the Debtors, with the support of the Asbestos
Personal Injury Future Claims Representative and the Official
Committee of the Asbestos Personal Injury Claimants, have entered
into the settlement to effectuate both a comprehensive resolution
of all remaining disputes with respect to the "Subject Policies"
and the withdrawal of the CNA Companies' objections to
confirmation of the Plan.

Pursuant to the Settlement, the CNA Companies agree to pay
$84 million to the Asbestos PI Trust in seven annual installments.
The first payment is due within 30 days of the effective date of
the Plan, with the remaining six payments due on the first through
sixth anniversary dates of the effective date.

The Settlement resolves all disputes relating to any alleged
remaining coverage and other obligations of the CNA Companies, as
well as any alleged obligations of the Debtors, under the Subject
Policies.  The Subject Policies covered by the settlement include
all known and unknown policies, or portions of the policies,
issued to a Grace Party by any of the CNA Companies with a policy
period incepting prior to June 30, 1985, that actually or
potentially provide insurance coverage for any Asbestos-Related
Claims, except that the Subject Policies do not include any rights
or obligations under an insurance policy to the extent that those
rights or obligations pertain solely to coverage for Workers'
Compensation Claims.

The Settlement also resolves disputes relating to coverage for
Asbestos-Related Claims.  For purposes of the Settlement,
"Asbestos-Related Claims" include any claims made against the
Debtors or the Asbestos PI Trust, or any claims made against the
CNA Companies by reason of the CNA Companies' provision of
insurance or insurance services to the Debtors, based on or
arising out of the presence of, or exposure to, asbestos or
asbestos-containing vermiculite, or any products, materials, or
wastes containing asbestos or asbestos-containing vermiculite for
which any of the Debtors is alleged to be liable.  Asbestos-
Related Claims do not, however, include Workers' Compensation
Claims.

In addition, the Settlement resolves any potential disputes
relating to coverage for Asbestos-Related Claims under the 1984-85
policy and all post-June 30, 1985 insurance policies issued by the
CNA Companies to any of the Debtors.  The parties agree that these
policies exclude coverage for asbestos claims.

The CNA Companies also release any rights they have against the
Debtors, under the prior agreements or otherwise, to defense and
indemnity for Asbestos-Related Claims asserted against the CNA
Companies.  The CNA Companies relinquish any rights they have to
make Indirect PI Trust Claims against the Asbestos PI Trust should
the CNA Companies be held liable to a third party for injuries
caused by that third party's exposure to asbestos or asbestos-
containing vermiculite for which any of the Debtors are alleged to
be liable.

Under the Settlement, the Asbestos PI Trust, under certain
circumstances, will seek to enforce the application of the
Asbestos PI Channeling Injunction against any Asbestos-Related
Bodily Injury Claims that may be made against the CNA Companies
by third parties, up to a limit of $1 million in litigation
costs.  Should any of those claims not be enjoined, or if they
are resolved under certain circumstances, then the Asbestos PI
Trust will indemnify the CNA Companies for any settlements
entered into by the CNA Companies or judgments entered against
them with respect to Asbestos-Related Bodily Injury Claims, up
to $13 million.  Thus, the maximum amount that the Asbestos PI
Trust could incur in respect of those obligations is $13 million.

Pursuant to the Settlement, the CNA Companies will immediately
suspend prosecution of their objections to the Plan, to
Confirmation of the Plan, and to the Debtors', the Asbestos PI
Committee's, or the Asbestos PI FCR's motions or applications
pending in the case, and will suspend prosecution of Claim Nos.
13966 to 14027 to the extent these claims relate to Asbestos-
Related Claims.

Upon final approval of the Settlement, the CNA Companies will
withdraw all of their objections to the Plan and consent to the
assignment of Asbestos Insurance Rights to the Asbestos PI Trust.
Claim Nos. 13966 to 14027 will be deemed withdrawn with prejudice
to the extent they relate to Asbestos-Related Claims.

The Settlement further provides that, upon the Asbestos PI Trust's
receipt of the Initial Payment, the Subject Policies will be sold
to the CNA Companies free and clear of all liens, claims and
encumbrances.

                         About W.R. Grace

Headquartered in Columbia, Maryland, W.R. Grace & Co. (NYSE:GRA)
-- http://www.grace.com/-- supplies catalysts and silica
products, especially construction chemicals and building
materials, and container products globally.

The Company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2001 (Bankr. D. Del. Case No. 01-01139).
David M. Bernick, P.C., Esq., at Kirkland & Ellis, LLP, and Laura
Davis Jones, Esq., at Pachulski Stang Ziehl & Jones, LLP,
represent the Debtors in their restructuring effort.  The Debtors
hired Blackstone Group, L.P., for financial advice.
PricewaterhouseCoopers LLP is the Debtors' accountant.  Stroock &
Stroock & Lavan, LLP, and Duane Morris, LLP, represent the
Official Committee of Unsecured Creditors.  The Creditors
Committee tapped Capstone Corporate Recovery LLC for financial
advice.  David T. Austern, the legal representative of future
asbestos personal injury claimants, is represented by Orrick
Herrington & Sutcliffe LLP and Phillips Goldman & Spence, PA.
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, and Marla
R. Eskin, Esq., at Campbell & Levine, LLC, represent the Official
Committee of Asbestos Personal Injury Claimants.  The Asbestos
Committee of Property Damage Claimants tapped Scott Baena, Esq.,
and Jay M. Sakalo, Esq., at Bilzin Sumberg Baena Price & Axelrod,
LLP, to represent it.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel, LLP, represents the Official Committee of
Equity Security Holders.

W.R. Grace and its debtor affiliates, with the support of the
Official Committee of Asbestos Personal Injury Claimants, the
Asbestos PI Future Claimants' Representative and the Official
Committee of Equity Security Holders, have submitted a proposed
Chapter 11 plan of reorganization.  The Chapter 11 plan is built
around an April 2008 settlement for all present and future
asbestos personal injury claims, and a subsequent settlement for
asbestos property damage claims.  The Plan confirmation hearing
wrapped up on January 25.

Bankruptcy Creditors' Service, Inc., publishes W.R. Grace
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by W.R. Grace, W.R. Grace Co. - Conn. and their
affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000)


W.R. GRACE: Buys West Chester, Ohio-Based Technology Company
------------------------------------------------------------
W.R. Grace & Co. (NYSE:GRA) announced that it has purchased the
assets and associated entities of RS Solutions LLC, a privately-
owned technology company located in West Chester, Ohio.  Financial
terms of the transaction were not disclosed.

RS Solutions manufactures targeted process control solutions for
the ready mix concrete industry, including electro-mechanical
devices, sensors and other technologies that assist concrete
producers in controlling product quality and production costs.

These technologies help to measure concrete consistency (slump)
during delivery to job sites.  Without an effective system, the
concrete can be significantly affected by the uncontrolled
addition of water and other factors during the transportation
process that can lead to higher costs, rejected loads and product
quality claims.

Grace Construction Products, an operating segment of Grace, and RS
Solutions have an established relationship.  In April 2008, Grace
became the exclusive worldwide sales and marketing agent for RS
Solutions' Verifi(R) SMS (Slump Management System), a ready mix
truck on-board process control system that accurately measures,
adjusts and documents concrete slump from the time a truck is
loaded until the concrete is poured.

"The acquisition of RS Solutions will accelerate our ability to
build end-to-end productivity and quality control processes for
the concrete industry -- by linking measurement, visibility,
material science and chemical control," stated Andrew Bonham,
President of Grace Construction Products.  "We see the acquisition
as a natural extension of our ongoing efforts to provide
innovative products to our customers worldwide."

"Grace brings a unique combination of industry expertise, world-
class concrete and cement science and a global presence; we are
excited to leverage these strengths to deliver solutions to the
industry," explained Doug Groh, Vice President of Sales and
Marketing for RS Solutions.

             About Grace Construction Products

    Grace Construction Products is a world-leading provider of
construction chemicals and building materials that are used to
enhance the durability, strength and appearance of structures all
over the world.  Products include technically superior concrete
admixtures, fibers, surface treatments and liquid pigments,
additives for cement processing, and fire protection,
waterproofing and masonry products.  More information is available
at http://www.graceconstruction.com/or
http://www.verificontrols.com/

                         About W.R. Grace

Headquartered in Columbia, Maryland, W.R. Grace & Co. (NYSE:GRA)
-- http://www.grace.com/-- supplies catalysts and silica
products, especially construction chemicals and building
materials, and container products globally.

The Company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2001 (Bankr. D. Del. Case No. 01-01139).
David M. Bernick, P.C., Esq., at Kirkland & Ellis, LLP, and Laura
Davis Jones, Esq., at Pachulski Stang Ziehl & Jones, LLP,
represent the Debtors in their restructuring effort.  The Debtors
hired Blackstone Group, L.P., for financial advice.
PricewaterhouseCoopers LLP is the Debtors' accountant.  Stroock &
Stroock & Lavan, LLP, and Duane Morris, LLP, represent the
Official Committee of Unsecured Creditors.  The Creditors
Committee tapped Capstone Corporate Recovery LLC for financial
advice.  David T. Austern, the legal representative of future
asbestos personal injury claimants, is represented by Orrick
Herrington & Sutcliffe LLP and Phillips Goldman & Spence, PA.
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, and Marla
R. Eskin, Esq., at Campbell & Levine, LLC, represent the Official
Committee of Asbestos Personal Injury Claimants.  The Asbestos
Committee of Property Damage Claimants tapped Scott Baena, Esq.,
and Jay M. Sakalo, Esq., at Bilzin Sumberg Baena Price & Axelrod,
LLP, to represent it.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel, LLP, represents the Official Committee of
Equity Security Holders.

W.R. Grace and its debtor affiliates, with the support of the
Official Committee of Asbestos Personal Injury Claimants, the
Asbestos PI Future Claimants' Representative and the Official
Committee of Equity Security Holders, have submitted a proposed
Chapter 11 plan of reorganization.  The Chapter 11 plan is built
around an April 2008 settlement for all present and future
asbestos personal injury claims, and a subsequent settlement for
asbestos property damage claims.  The Plan confirmation hearing
wrapped up on January 25.

Bankruptcy Creditors' Service, Inc., publishes W.R. Grace
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by W.R. Grace, W.R. Grace Co. - Conn. and their
affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000)


* After Two Years, Bankruptcy Boom Set to Fade in 2011
------------------------------------------------------
Dow Jones Small Cap reports that after two years punctuated by a
historic economic downturn, a rash of mega-bankruptcy cases and
sky-rocketing default rates, 2010 appears to have ushered in a new
era of normalcy when it comes to restructuring.

Thanks to burgeoning credit markets and the recession's recent
purge of the weakest companies, today's survivors are largely
keeping themselves out of bankruptcy court, according to Dow
Jones.

The report notes that the lull in filings is giving bankruptcy
experts a chance to breathe, regroup and take stock of the new
restructuring landscape, which is expected to be populated mainly
by middle-market companies.

"Everyone's gotten so used to these multibillions of dollar cases,
but I don't think that that ever became or should be expected to
be the long-term norm," the report quoted Adam Rogoff, a
bankruptcy partner with Kramer Levin Naftalis & Frankel, as
saying.


* Level of Bank Failures Worst Since 1992, FDIC Says
----------------------------------------------------
American Bankruptcy Institute reports that the Federal Deposit
Insurance Corp. said more banks failed in the United States this
year than in any year since 1992, during the savings-and-loan
crisis.


* Rising Returns Lift Leveraged Loans Outlook for Coming Year
-------------------------------------------------------------
Investors expect another strong year in the leveraged loan market
in 2011, with issuance levels continuing to rebound from their
credit-crisis lows and anticipated returns in the mid- to high-
single digits, Dow Jones' Small Cap reports.


* Strategic Value Partners Strategy Set on Driving Restructurings
-----------------------------------------------------------------
Dow Jones' Small Cap reports that Victor Khosla doesn't think it's
enough to just invest in distressed companies; now's the time to
take control in both the U.S. and Europe.

For Khosla, whose New York-based Strategic Value Partners LLC runs
$3.5 billion in distressed strategies, 2010 was - and 2011 is -
about finding the companies that need to make changes and actually
facilitate them, according to the Dow Jones'.

"We're really looking to buy distressed debt and run and drive
restructurings," the report quoted Mr. Khosla as saying.

Dow Jones' notes that Strategic has already been doing a lot of
that and is seeing opportunities all across Europe and in certain
sectors in the U.S., although Strategic tries to stay away from
U.S. financial and automobile investments if it can.  The report
relates that one thing that's certain on both sides of the
Atlantic, he thinks, is that banks will be selling much more debt.

Khosla founded Strategic in 2001 after starting Merrill Lynch's
global distressed debt business and working as a portfolio manager
at Louis Bacon's Moore Capital, the report adds.


* President Obama Approves Technical Changes to Bankruptcy Code
---------------------------------------------------------------
According to an article posted by Bob Lawless at CreditSlips.org,
President Barack Obama on December 23 signed a bill that made
technical corrections to the Bankruptcy Code.  The bill was not
intended to make any substantive changes but only to correct
drafting mistakes from the 2005 changes to the bankruptcy law.

Mr. Lawless pointed to two changes:

     -- Congress fixed the double negative in section 1112(b)(2).
If "cause" was established, the original wording required the
court not to dismiss or convert a chapter 11 unless unusual
circumstances existed showing that dismissal or conversion was not
in the best interests of creditors.  The double negative meant
dismissal should happen only when it was bad for creditors.

     -- Section 308 imposes reporting requirements on "small
business debtors," which are business debtors with less than about
$2.2 million in debt.  The bill changes the term "small business
debtor" to "small business case," which are small business debtors
in chapter 11.  As originally drafted, section 308's reporting
requirements could have applied to small business debtors outside
of chapter 11, even to self-employed individuals in chapters 7 or
13.  The original language made a careful distinction between
"debtors" (everyone) and "cases" (chapter 11s), and Congress chose
to locate the section in the generally applicable provisions of
chapter 3.  The change now clearly limits section 308's
application only to chapter 11.

A copy of the enrolled bill is available at http://is.gd/jZp7y
from Credit Slips.  Mr. Lawless said the public law version is not
available as of the writing of the article.


* BOND PRICING -- For Week From Dec. 27 to 31, 2010
---------------------------------------------------

  Company           Coupon      Maturity  Bid Price
  -------           ------      --------  ---------
155 E TROPICANA      8.750%     4/1/2012     4.580
ABITIBI-CONS FIN     7.875%     8/1/2009    15.125
ADVANTA CAP TR       8.990%   12/17/2026    13.500
AHERN RENTALS        9.250%    8/15/2013    48.000
AMBAC INC            5.950%    12/5/2035    11.000
AMBAC INC            7.500%     5/1/2023    12.100
AMBAC INC            9.500%    2/15/2021     9.750
AMBASSADORS INTL     3.750%    4/15/2027    38.800
BAC-CALL01/11        5.000%    1/15/2014    99.000
BANK NEW ENGLAND     8.750%     4/1/1999    12.750
BANK NEW ENGLAND     9.875%    9/15/1999     9.000
BANKUNITED FINL      6.370%    5/17/2012     5.000
BLOCKBUSTER INC      9.000%     9/1/2012     1.910
BOWATER INC          6.500%    6/15/2013    31.000
BOWATER INC          9.500%   10/15/2012    36.500
C&D TECHNOLOGIES     5.250%    11/1/2025    60.000
C&D TECHNOLOGIES     5.500%   11/15/2026    73.000
CAPMARK FINL GRP     5.875%    5/10/2012    40.750
CDE-CALL01/11        1.250%    1/15/2024    97.500
COLONIAL BANK        6.375%    12/1/2015     0.200
CS FINANCING CO     10.000%    3/15/2012     2.900
DUNE ENERGY INC     10.500%     6/1/2012    69.750
EDDIE BAUER HLDG     5.250%     4/1/2014     5.000
ELEC DATA SYSTEM     3.875%    7/15/2023    96.000
EVERGREEN SOLAR      4.000%    7/15/2013    37.250
FAIRPOINT COMMUN    13.125%     4/1/2018     8.250
FAIRPOINT COMMUN    13.125%     4/2/2018     8.875
GENERAL MOTORS       7.125%    7/15/2013    32.675
GENERAL MOTORS       9.450%    11/1/2011    31.000
GREAT ATLA & PAC     5.125%    6/15/2011    31.250
GREAT ATLA & PAC     6.750%   12/15/2012    29.000
GREAT ATLANTIC       9.125%   12/15/2011    25.000
KEYSTONE AUTO OP     9.750%    11/1/2013    47.500
LEHMAN BROS HLDG     1.985%    6/29/2012    10.000
LEHMAN BROS HLDG     4.500%     8/3/2011    21.125
LEHMAN BROS HLDG     4.700%     3/6/2013    21.750
LEHMAN BROS HLDG     4.800%    2/27/2013    21.750
LEHMAN BROS HLDG     4.800%    3/13/2014    21.250
LEHMAN BROS HLDG     5.000%    1/22/2013    20.750
LEHMAN BROS HLDG     5.000%    2/11/2013    21.350
LEHMAN BROS HLDG     5.000%    3/27/2013    20.155
LEHMAN BROS HLDG     5.000%     8/3/2014    21.250
LEHMAN BROS HLDG     5.000%     8/5/2015    20.400
LEHMAN BROS HLDG     5.100%    1/28/2013    20.500
LEHMAN BROS HLDG     5.150%     2/4/2015    21.750
LEHMAN BROS HLDG     5.250%     2/6/2012    22.375
LEHMAN BROS HLDG     5.250%    1/30/2014    19.625
LEHMAN BROS HLDG     5.250%    2/11/2015    21.750
LEHMAN BROS HLDG     5.500%     4/4/2016    21.670
LEHMAN BROS HLDG     5.600%    1/22/2018    20.280
LEHMAN BROS HLDG     5.625%    1/24/2013    24.375
LEHMAN BROS HLDG     5.750%    7/18/2011    21.150
LEHMAN BROS HLDG     5.750%    5/17/2013    21.780
LEHMAN BROS HLDG     5.750%     1/3/2017     0.010
LEHMAN BROS HLDG     5.875%   11/15/2017    20.500
LEHMAN BROS HLDG     6.000%    7/19/2012    22.350
LEHMAN BROS HLDG     6.000%    6/26/2015    20.750
LEHMAN BROS HLDG     6.000%   12/18/2015    20.750
LEHMAN BROS HLDG     6.000%    2/12/2018    21.750
LEHMAN BROS HLDG     6.200%    9/26/2014    23.875
LEHMAN BROS HLDG     6.625%    1/18/2012    21.501
LEHMAN BROS HLDG     7.000%    4/16/2019    20.500
LEHMAN BROS HLDG     7.000%    5/12/2023    10.250
LEHMAN BROS HLDG     8.050%    1/15/2019    21.750
LEHMAN BROS HLDG     8.400%    2/22/2023    19.000
LEHMAN BROS HLDG     8.500%     8/1/2015    20.055
LEHMAN BROS HLDG     8.500%    6/15/2022    18.250
LEHMAN BROS HLDG     8.800%     3/1/2015    21.750
LEHMAN BROS HLDG     9.000%     3/7/2023    21.750
LEHMAN BROS HLDG     9.500%   12/28/2022    21.750
LEHMAN BROS HLDG     9.500%    1/30/2023    21.750
LEHMAN BROS HLDG     9.500%    2/27/2023    20.000
LEHMAN BROS HLDG    10.000%    3/13/2023    20.750
LEHMAN BROS HLDG    10.375%    5/24/2024    21.750
LEHMAN BROS HLDG    11.000%    6/22/2022    21.750
LEHMAN BROS HLDG    11.000%    7/18/2022    20.500
LEHMAN BROS HLDG    11.000%    3/17/2028    20.500
LEHMAN BROS INC      7.500%     8/1/2026    12.000
LOCAL INSIGHT       11.000%    12/1/2017    22.500
MAGNA ENTERTAINM     7.250%   12/15/2009     4.900
MOHEGAN TRIBAL       8.375%     7/1/2011    59.000
NETWORK COMMUNIC    10.750%    12/1/2013    18.500
NEWPAGE CORP        10.000%     5/1/2012    56.500
NEWPAGE CORP        12.000%     5/1/2013    30.500
NII HOLDINGS         2.875%     2/1/2034    97.020
PALM HARBOR          3.250%    5/15/2024    44.000
RAFAELLA APPAREL    11.250%    6/15/2011    74.438
RASER TECH INC       8.000%     4/1/2013    35.250
RES-CARE INC         7.750%   10/15/2013   102.230
RESTAURANT CO       10.000%    10/1/2013    27.875
RESTAURANT CO       10.000%    10/1/2013    32.750
RJ TOWER CORP       12.000%     6/1/2013     1.000
RYERSON TULL INC     8.250%   12/15/2011    65.020
SBARRO INC          10.375%     2/1/2015    44.000
SPHERIS INC         11.000%   12/15/2012     2.750
THORNBURG MTG        8.000%    5/15/2013     5.500
TIMES MIRROR CO      7.250%     3/1/2013    40.500
TOM'S FOODS INC     10.500%    11/1/2004     1.704
TRANS-LUX CORP       8.250%     3/1/2012    10.625
TRICO MARINE         3.000%    1/15/2027     2.000
TRICO MARINE SER     8.125%     2/1/2013     5.000
VERTIS INC          13.500%     4/1/2014    29.750
VERTIS INC          18.500%    10/1/2012    23.875
VESTA INSUR GRP      8.750%    7/15/2025     1.000
WASH MUT BANK NV     5.950%    5/20/2013     0.250
WCI COMMUNITIES      4.000%     8/5/2023     1.302
WCI COMMUNITIES      7.875%    10/1/2013     0.600
WOLVERINE TUBE      15.000%    3/31/2012    35.100



                           *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers"
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com by e-mail.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases by individuals and business entities estimating
assets and debts or disclosing assets and liabilities at less than
$1,000,000.  The list includes links to freely downloadable images
of the small-dollar business-related petitions in Acrobat PDF
format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors" Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Howard
C. Tolentino, Joseph Medel C. Martirez, Denise Marie Varquez,
Philline Reluya, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R.
Villacampa, Sheryl Joy P. Olano, Carlo Fernandez, Christopher G.
Patalinghug, and Peter A. Chapman, Editors.

Copyright 2011.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
Beard at 240/629-3300.


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