TCR_Public/110207.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, February 7, 2011, Vol. 15, No. 37

                            Headlines

14317 FRIAR: Case Summary & Largest Unsecured Creditor
94TH AND SHEA: Files Schedules of Assets & Liabilities
94TH AND SHEA: U.S. Trustee Unable to Form Creditors Committee
AGRIPROCESSORS INC: NY Court Voids Varioius Transfers by Rubashkin
ALERIS INT'L: Sells 7-Year Notes to Pay P/E Owners Dividend

AMBRILIA BIOPHARMA: TSX to Delist Common Shares
AMERICAN TRUST BANK: Closed; Renasant Bank Assumes All Deposits
ARYX THERAPEUTICS: Prudential Financial Holds 5.8% Equity Stake
ATLANTIC SOUTHERN: Terminates Registration of Common Stock
AVAYA INC: Moody's Assigns 'B1' Rating to $1 Bil. Senior Notes

AVISTA CORPORATION: Moody's Reviews 'Ba2' Minority Shelf Ratings
AWAL BANK: First Investment of Kuwait Considers Sale of Stake
B&V FLORIDA: Case Summary & 6 Largest Unsecured Creditors
BANKATLANTIC BANCORP: PNC Bank to Buy Tampa Franchise
BANKUNITED FINANCIAL: Committee Can Pursue Some D&O Claims

BELDEN INC: Moody's Affirms 'Ba1' Rating, Gives Stable Outlook
BELMONT & HUDSON: Voluntary Chapter 11 Case Summary
BERNARD L MADOFF: Picard Suit vs. Mets Owners Unsealed
BERNARD L MADOFF: Mets Bayou Accord May Be Model for Suit Deal
BLUE RIBBON: Case Summary & 20 Largest Unsecured Creditors

BORDERS GROUP: John Wiley Records $9 Million Bad Debt Expense
BORDERS GROUP: Receives Non-Compliance Notice from NYSE
BROOKLYN'S CHOPHOUSE: Owner to File for Chapter 11 Bankruptcy
BUILDERS FIRSTSOURCE: Robotti, 5.3% Owner, Recommend Korn
C&D TECHNOLOGIES: Announces Plan for Reverse Stock Split

CAPMARK FINANCIAL: Bank Acquires Harford County Golf Course
CARIS DIAGNOSTICS: S&P Affirms 'B' Corporate Credit Rating
CASCADE BANCORP: Amends Bylaw to Increase Directors to Eleven
CASCADE BANCORP: Gets $177MM to Reach "Well Capitalized" Levels
CASCADE BANCORP: Inks Indemnification Agreements With Directors

CASCADE BANCORP: Signs Registration Rights Pact With Investors
CB HOLDING: Looks to Sell Bugaboo Creek Chain to Landry's
CCM MERGER: Moody's Reviews 'Caa2' Corporate for Upgrade
CHAPMAN & CHAPMAN: Case Summary & 11 Largest Unsecured Creditors
CLASSIQUE MARBLE: Case Summary & 20 Largest Unsecured Creditors

COLONIAL BANCGROUP: Amends Proposed Chapter 11 Plan
COMMUNITY FIRST BANK: Closed; Northbrook Bank Assumes All Deposits
COMPOSITE TECHNOLOGY: Deregisters Unsold Shares in 2004 Offering
COMPOSITE TECHNOLOGY: Deregisters Unsold Shares in 2005 Offering
COMPOSITE TECHNOLOGY: Deregisters Unsold Shares in 2008 Offering

CROSSROADS ELECTRIC: Voluntary Chapter 11 Case Summary
CTI GLOBAL: Agrees to File MORs to Avoid Case Dismissal
CUSTOM POULTRY: Case Converted to Chapter 11
CYPRESS MANUFACTURING: Case Summary & Creditors List
DENBURY RESOURCES: Moody's Gives Stable Outlook; Keeps Ba3 Rating

DENBURY RESOURCES: S&P Assigns 'BB-' Rating to $350 Mil. Notes
DESERT VISTA: Voluntary Chapter 11 Case Summary
DIABETES AMERICA: U.S. Trustee Names Three to Creditors Panel
EAGLE INDUSTRIES: Committee Can Hire Alber Crafton as Counsel
EDIETS.COM(R): Fails NASDAQ's $35-Mil. Market Value Requirement

ENERGY PARTNERS: S&P Assigns 'B' Corporate Credit Rating
ESSEX OIL: Randsburg Int'l Wants Receiver to Take Over Assets
EVERWIN ENTERPRISES: Case Summary & 20 Largest Unsecured Creditors
FAIRPOINT COMMUNICATIONS: Moody's Gives 'B2' CFR After Emergence
FAIRVIEW MINISTRIES: Case Summary & 20 Largest Unsecured Creditors

FIRST UNITED ETHANOL: To Continue Managing Bankrupt Subsidiary
FLEX-SPACE PROPERTY: Case Summary & 4 Largest Unsecured Creditors
FORCE-MEADOWS: Voluntary Chapter 11 Case Summary
FUNDAMENTAL PROVISIONS: MC Bank Cries Default Under Plan
GREAT ATLANTIC & PACIFIC: Elects Greg Rayburn to Board

HOLLYWOOD RESTAURANT: Owner Aims to Restructure Garrason's Tavern
GUIDED THERAPEUTICS: Awarded ISO Certification for LightTouch
HAROLD PAVILACK: Trustee Taps Colliers as Consultant and Broker
HAYSEED HOLDING: Voluntary Chapter 11 Case Summary
HEALTHEAST CARE: Moody's Affirms 'Ba1' Rating on $270 Mil. Bonds

HLI OPERATING: Moody's Raises Corporate Family Rating to 'B2'
HUBBARD PROPERTIES: Section 341(a) Meeting Scheduled for Feb. 23
HUBBARD PROPERTIES: Taps Jennis & Bowen as Bankruptcy Counsel
INTEGRAL NUCLEAR: Case Summary & 20 Largest Unsecured Creditors
INT'L STORYTELLING: Wants to Reject Contract With NSN

INVENTIV HEALTH: S&P Affirms Corporate Credit Rating at 'B+'
JASON'S HAULING: Owes $3.4 Million to Mercantile Bank
JILLIAN'S ENTERTAINMENT: Closes Cleveland Heights Location
JUNCO STEEL: Case Summary & 20 Largest Unsecured Creditors
KENMORE REALTY: Files Schedules of Assets & Liabilities

KERNER OPTICAL: Voluntary Chapter 11 Case Summary
LANE PUNCH: Dayton Buys Assets; Two Plants to Close
LAS VEGAS MONORAIL: Ambac Can't Elevate Appeal to 9th Cir.
MAJESTY HOSPITALITY: Case Summary & 17 Largest Unsecured Creditors
MARKHAM HILL: Case Summary & 2 Largest Unsecured Creditors

MARVIN B SMITH III: Court Dismisses Suit v. Atlantic Southern
MAX EQUIPMENT: Emerges from Chapter 11 Bankruptcy
MEDICURE INC: In Lender Talks to Address Ongoing Default
MOLECULAR INSIGHT: Bondholders Present Alternative Plan
MEDICURE INC: Posts C$728,900 Net Income in Nov. 30 Quarter

METAMORPHIX INC: Intends to Sell Assets as Part of Reorganization
MF GLOBAL: Fitch Affirms Preferred Stock Rating at 'BB+'
MI POLLO: Case Summary & 20 Largest Unsecured Creditors
MKR PROPERTIES: Case Summary & 19 Largest Unsecured Creditors
MORTGAGE INTERNET: Chapter 11 Case Transferred to Utah

MORTGAGES LTD: Rev-Op Group's Appeal to Grace Accord Already Moot
MYSPACE INC: News Corp. Taps Allen & Co. to Advise on Options
NATHAN REUTER: 8th Cir. BAP Says Debtor Violated Securities Law
NORTH GEORGIA BANK: Closed; BankSouth Assumes All Deposits
OAKLAND MUNICIPAL CREDIT: DFI Orders Closure and Liquidation

OXIGENE INC: To Sell Additional $4.79-Mil. of Common Shares
PALATIN TECHNOLOGIES: Compliance Plan Accepted by NYSE Amex
PALUDA, INC.: Case Summary & 20 Largest Unsecured Creditors
PALUDA 2: Case Summary & 20 Largest Unsecured Creditors
PFF BANCORP: Judge Approves $3M Settlement in ERISA Action

PHILADELPHIA RITTENHOUSE: IStar Asks Judge to Toss Out Firm's Case
PITTSBURG REDEVELOPMENT: Fitch Cuts $153.1MM Bonds to 'BB+'
POLLO WEST: Case Summary & 20 Largest Unsecured Creditors
PRIUM SPOKANE: Files Schedules of Assets and Liabilities
RENASCENT INC: Plan Provides Payment of Unsecureds in Five Years

RESIDENTIAL CAPITAL: Hiked by Fitch to 'B' After $575MM Profit
RMV MARINA: Voluntary Chapter 11 Case Summary
ROBERT BRENNAN: NJ Attorney General Wants to Re-Open Case
ROBERT N LUPO: Judge Won't Recuse Self From Case
SAINTS MEDICAL: Moody's Cuts Rating on $49 Mil. Bonds to 'B1'

SAVERS INC: Moody's Affirms 'B1' Corporate Family Rating
SHIVAM BEACH: Case Summary & 20 Largest Unsecured Creditors
SOCIALWISE INC: Accumulated Losses Prompt Going Concern Doubt
SOUTHWEST GEORGIA ETHANOL: Wants Morgan Keegan as Fin'l Advisor
SPOT MOBILE: Notifies Late Filing of 10-K; Sees $3.43MM Net Loss

SPEEDWAY MOTORSPORTS: Moody's Puts 'Ba1' Rating on $250 Mil. Loan
STERLING ESTATES: Bankr. Court Won't Reverse Cash Denial Order
STEVE PAIGE: Dist. Ct. Says Domain Name is Property of Estate
SUNNYSLOPE HOUSING: Involuntary Chapter 11 Case Summary
TAMPA BAY CAR WASH: Case Summary & 13 Largest Unsecured Creditors

T3 MOTION: May Issue Up to $9.2MM in Securities
TOMZILLA, INC: Case Summary & 20 Largest Unsecured Creditors
TRICO MARINE: Proofs of Claim Must Be Filed By Feb. 24, 2011
UNIVERSAL BUILDING: Plan Confirmation Hearing Set for March 8
UNIVERSAL SOLAR: Amends 2009 Form 10-K to Provide Additional Data

VALEANT PHARMACEUTICALS: Moody's Puts B1 Rating on $650 Mil. Notes
VALEANT PHARMACEUTICALS: S&P Puts 'BB-' Rating on $650 Mil. Notes
VM ASC: U.S. Trustee Unable to Appoint Creditors Committee
WAYNE COUNTY PUBLICATIONS: Files for Chapter 11 in Huntington
WAYNE COUNTY PUBLICATIONS: Case Summary & Unsecured Creditors

WIEN BAKERY: Case Summary & 8 Largest Unsecured Creditors
XODTEC LTD: Restates Financial Reports for 2010 and 2009

* Business Bankruptcy Filings Fall to Lowest Level Since July 2008
* SecondMarket Taps Web Stock Frenzy to Boost Other Trades

* S&P: Residential Mortgage Monthly Defaults Declined in Q4
* S&P Global Defaults Tally Now at 2 After Sbarro Missed Payment

* Banks in Georgia, Illinois Shuttered; Year's Failures Now 14

* Paul Hastings Partners Join DLA Piper

* BOND PRICING -- For Week From Jan. 31 to Feb. 4, 2011

                            *********

14317 FRIAR: Case Summary & Largest Unsecured Creditor
------------------------------------------------------
Debtor: 14317 Friar Avenue, LLC
        P.O. Box 6673
        Beverly Hills, CA 90212

Bankruptcy Case No.: 11-14778

Chapter 11 Petition Date: February 3, 2011

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

Judge: Vincent P. Zurzolo

Debtor's Counsel: Duane R. Folke, Esq.
                  LAW OFFICES OF DUANE R. FOLKE
                  3450 Wilshire Boulevard, Suite 108-17
                  Los Angeles, CA 90010-2208
                  Tel: (213) 333-0762

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

Scheduled Debts: $1,000,000 to $10,000,000

The petition was signed by Simon Kashani, manager.

The list of unsecured creditors filed together with its petition
contains only one entry:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
FDIC for Indymac Bank              --                   $2,000,000
4665 Southwest Freeway
Houston, TX 77027


94TH AND SHEA: Files Schedules of Assets & Liabilities
------------------------------------------------------
94TH And Shea, L.L.C., has filed with the U.S. Bankruptcy Court
for the District of Arizona its schedules of assets and
liabilities, disclosing:

  Name of Schedule                        Assets       Liabilities
  ----------------                        ------       -----------
A. Real Property                          Unknown
B. Personal Property                     $123,588
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                      $21,007,500
E. Creditors Holding
   Unsecured Priority
   Claims                                                       $0
F. Creditors Holding
   Unsecured Non-priority
   Claims                                               $1,862,908
                                      -----------      -----------
      TOTAL                              $123,588      $22,870,408
                                         + Unknown

A copy of the Schedules of Assets and Liabilities is available for
free at http://bankrupt.com/misc/94TH_AND_SHEA_SAL.pdf

Scottsdale, Arizona-based 94th And Shea, L.L.C., owns and operates
a property known as The Shops And Office at 9400 Shea, located at
9325, 9343, 9375, and 9397 East Shea Boulevard in Scottsdale,
Arizona.  It filed for Chapter 11 bankruptcy protection on
November 19, 2010 (Bankr. D. Ariz. Case No. 10-37387).

John J. Hebert, Esq., Mark W. Roth, Esq., and Philip R. Rudd,
Esq., at Polsinelli Shughart, P.C., serve as counsel to the
Debtor.


94TH AND SHEA: U.S. Trustee Unable to Form Creditors Committee
--------------------------------------------------------------
Ilene Lashinsky, the U.S. Trustee for Region 14, advises the U.S.
Bankruptcy Court for the District of Arizona that a committee of
unsecured creditors in the Chapter 11 case of 94th And Shea, LLC,
has not been appointed because an insufficient number of persons
holding unsecured claims against the Debtor have expressed
interest in serving on a committee.  The U.S. Trustee reserves the
right to appoint a committee should interest develop among the
creditors.

Scottsdale, Arizona-based 94th And Shea, L.L.C., owns and operates
a property known as The Shops And Office at 9400 Shea, located at
9325, 9343, 9375, and 9397 East Shea Boulevard in Scottsdale,
Arizona.  It filed for Chapter 11 bankruptcy protection on
November 19, 2010 (Bankr. D. Ariz. Case No. 10-37387).

John J. Hebert, Esq., Mark W. Roth, Esq., and Philip R. Rudd,
Esq., at Polsinelli Shughart, P.C., serve as counsel to the
Debtor.  The Debtor estimated its assets and debts at $10 million
to $50 million as of the Petition Date.


AGRIPROCESSORS INC: NY Court Voids Varioius Transfers by Rubashkin
------------------------------------------------------------------
New York Supreme Court Justice Arthur M. Schack granted U.S.
Bancorp Equipment Finance's request to void as fraudulent,
pursuant to Debtor & Creditor Law (DCL) Sec. 270 et seq.:

     * conveyances by Abraham Rubashkin of:

       -- his interest in his house in Brooklyn to his wife;
       -- certain shares of stock and membership interests to son
          Joseph, daughter Gutol Leiter, and granddaughter Rosie
          Sandman; and

     * the mortgage given to Hilgar Limited, by Abraham Rubashkin
       for their Brooklyn house.

Justice Schack also granted U.S. Bancorp's other requests,
including for an order to show cause to hold the respondents in
contempt for their failure to comply with subpoenas duces tecum
and information subpoenas issued to them; and for leave to receive
disclosure of Abraham Rubashkin's assets.

The case is U.S. Bancorp Equipment Finance, Inc., v. Abraham A.
Rubashkin, Rivka Rubashkin, Joseph Rubashkin, Gutol Leiter, Rosie
Sandman, Hilgar Limited, A. A. Rubashkin & Sons, Inc., 452-53rd
Street Realty Corp., 410 East 17th Street, LLC, 404 Realty
Associates, LLC, and John Does No. 1-10, 18357/10 (N.Y. Sup. Ct.,
Kings County).

A copy of the 2011 NY Slip Op 50100(U), dated January 31, 2011, is
available at http://is.gd/VSuO17from Leagle.com.

U.S. Bancorp is represented in the lawsuit by:

          Jonathan Borg, Esq.
          DAY PITNEY LLP
          7 Times Square
          New York, NY 10036
          Telephone: (212) 297-5816
          Facsimile: (212) 881-9013
          E-mail: jborg@daypitney.com

Abraham Rubashkin is represented by:

          Joseph Shochet, Esq.
          SHERMAN CITRON & KARASIK, PC
          605 3rd Avenue # 25
          New York, NY 10158-2599
          Telephone: (212) 455-0450

Abraham Rubashkin was the sole shareholder of Agriprocessors, Inc.

Headquartered in Postville, Iowa, Agriprocessors once produced
half the kosher beef and 40% of the kosher poultry in the U.S.  It
filed for bankruptcy following a raid by immigration authorities
in May 2008 on the plant in Postville, Iowa, where 389 workers
were arrested for having forged immigration documents.  The
Company filed a Chapter 11 petition (Bankr. E.D.N.Y. Case No.
08-47472) on Nov. 4, 2008.  The case was later transferred to Iowa
(Bankr. N.D. Iowa Case No. 08-02751).  Kevin J. Nash, Esq., at
Finkel Goldstein Rosenbloom & Nash, represented the Company in its
restructuring effort.  The Debtor estimated assets and debts of
$100 million to $500 million in its Chapter 11 petition.

SHF Industries Inc. purchased substantially all of the Debtor's
assets for $8.5 million in July 2009, and renamed the company Agri
Star.  The Court approved the sale free and clear of all liens.

Agriprocessors' case was then converted to liquidation under
Chapter 7, at the consent of the Chapter 11 trustee appointed to
take over the estate.  The Chapter 11 trustee became the trustee
in the Chapter 7 case to liquidate the Debtor's remaining assets
and provide distributions to creditors.


ALERIS INT'L: Sells 7-Year Notes to Pay P/E Owners Dividend
-----------------------------------------------------------
Dow Jones Newswires' Michael Aneiro reports that Aleris
International Inc. sold $500 million of notes to pay a dividend to
its private-equity owners.  Dow Jones relates that, according to a
person familiar with the deal, Aleris on Friday sold seven-year
notes at par to yield 7.625%.  Most of the proceeds are earmarked
for a dividend payment to its owners, Oaktree Capital Management
LP and affiliates of Apollo Management LP and Sankaty Advisors
LLC.

According to Dow Jones, analysts say the deal pushes the envelope
for weak bondholder protections.  Dow Jones relates that covenant
analysts at both Moody's Investors Service and credit-research
firm Covenant Review said the Aleris deal offers some of the
weakest bondholder protections of any deal to come to market
recently, even by typically looser private-equity-sponsored
actions. In particular, they cite provisions that give Aleris an
unusual degree of flexibility to issue additional debt and make
future dividend payments.

"They were in bankruptcy within the past year and emerged with a
clean slate and not a lot of leverage, but [these covenants] give
them the ability to have a lot of leverage going forward," Dow
Jones quotes Matthew Musicaro, an analyst in the corporate-finance
group at Moody's, as saying.  "There's very little to prevent them
from incurring more debt and taking more money out to give to
sponsors in the future."

Dow Jones reports Covenant Review described the deal's restricted-
payments covenant -- a common clause in bond offerings that limits
dividends and other payments to equity holders -- as "seriously
deficient."  It said a combination of loopholes, carve-outs and
other exceptions would allow Aleris to move an unlimited amount of
assets into entities that aren't subject to the restrictive
covenants.

According to Dow Jones, Moody's said the restricted-payments
carve-out provisions for this deal are 4.7 times as great as the
2010 market median, amounting to 24.8% of total company assets,
compared with a 5.4% median. Such carve-outs allow a company to
tweak calculations of debt-to-equity ratios deemed acceptable
under bond covenants, or to exempt certain payments from
restrictions.

"Because this is a dividend deal, the restricted-payments covenant
should be especially tight, but this is definitely not the case,"
Covenant Review analysts wrote in a note that advised investors
considering this deal to reject certain restricted-payment carve-
outs, according to Dow Jones.

Dow Jones relates spokesperson for Aleris and Oaktree both
declined to comment on the offering.

Dow Jones also relates Alexander Dill, head of covenant research
at Moody's, said the Aleris deal appears to be unique for now in
terms of the paucity of bondholder protections, but it could
encourage future issuers to further weaken covenants.  "There are
some outliers that are kind of testing the waters and pushing the
envelope, and that risks creating more precedents for future
deals," Mr. Dill said.

Dow Jones notes earlier price guidance for the Aleris offering had
anticipated slightly higher yields in the area of 7.75%.  The
notes are rated B3 by Moody's and B- by Standard & Poor's,
slightly below the midpoint of the speculative-grade spectrum.
Underwriters for the offering were Bank of America Corp.'s Bank of
America Merrill Lynch, Barclays PLC's Barclays Capital, Deutsche
Bank, J.P. Morgan Chase and UBS.

                           *     *     *

As reported by the Troubled Company Reporter on February 3, 2011,
Standard & Poor's Ratings Services assigned a 'B+' corporate
credit rating to Aleris.  The rating outlook is stable.  At the
same time, S&P assigned a B+' issue-level rating to Aleris'
proposed $500 million senior unsecured notes due 2018.  The
recovery rating is '3', indicating S&P's expectation of meaningful
(50%-70%) recovery for noteholders in the event of a payment
default.

The TCR also reported that Moody's Investors Service assigned a
Ba3 corporate family rating and probability of default rating to
Aleris.  At the same time, Moody's assigned a B1 rating to the
company's proposed $500 million senior unsecured notes due 2018.
The outlook is stable.

The proceeds of the sale of the notes will be used to pay a cash
dividend of $300 million to the parent, Aleris Holding Co., which
will then pay a dividend to its stockholders, and for general
corporate purposes, including financing a portion of the
construction of an aluminum rolling mill in China.

"The 'B+' corporate credit rating on Aleris International reflects
the combination of what S&P considers to be its weak business risk
profile and aggressive financial risk profile," said Standard &
Poor's credit analyst Maurice Austin.

Moody's said the Ba3 corporate family rating reflects Aleris's
moderate leverage (pro-forma for the notes issue) following its
substantial deleveraging upon emerging from bankruptcy.  As a
consequence of the debt extinguishment, Aleris's capital structure
is now more appropriately balanced given the cyclical nature of
its business.  In addition, the rating acknowledges the company's
strong market position as a major global supplier of aluminum
rolled products, its geographic and end market diversity, and its
long-term customer relationships.  Lastly, the rating recognizes
the company's currently solid liquidity position.

                     About Aleris International

Beachwood, Ohio-based Aleris International, Inc., is a global
manufacturer of aluminum products, serving primarily the
aerospace, building and construction, containers and packaging,
metal distribution, and transportation industries.  Through its 42
production facilities located across North America, Europe, and
China, the company specializes in the manufacture and sale of
aluminum rolled and extruded products; aluminum recycling; and
specification alloy manufacturing.  Its operations are split into
three reporting segments: Rolled Products North America (30% of
fiscal 2009 revenues), Recycling and Specification Alloys Americas
(19%), and Europe (51%).  During the 12 months ended September 30,
2010, Aleris generated approximately $3.9 billion of revenues.

Aleris and various affiliates filed for bankruptcy on February 12,
2009 (Bankr. D. Del. Case No. 09-10478).  The Hon. Brendan Linehan
Shannon presided over the cases.  Stephen Karotkin, Esq., and
Debra A. Dandeneau, Esq., at Weil, Gotshal & Manges LLP in New
York, served as lead counsel for the Debtors.  L. Katherine Good,
Esq., and Paul Noble Heath, Esq., at Richards, Layton & Finger,
P.A., in Wilmington, Delaware, served as local counsel.  Moelis &
Company LLC, acted as financial advisors; Alvarez & Marsal LLC as
restructuring advisors, and Kurtzman Carson Consultants LLC as
claims and noticing agent for the Debtors.  As of December 31,
2008, the Debtors had total assets of US$4,168,700,000; and total
debts of US$3,978,699,000.

Judge Shannon confirmed Aleris' First Amended Plan of
Reorganization on May 13, 2010.  Aleris emerged from Chapter 11
protection on June 1, 2010.


AMBRILIA BIOPHARMA: TSX to Delist Common Shares
-----------------------------------------------
Ambrilia Biopharma Inc. disclosed that the Toronto Stock Exchange
has advised the Company that it determined to delist the common
shares of the Company at the close of market on March 4, 2011 for
failure to meet the continued listing requirements of TSX and that
the Company's common shares would remain suspended from trading.

Ambrilia has been operating under the protection of the Companies'
Creditors Arrangement Act (Canada) ("CCAA") since July 31, 2009.

Any recovery for creditors and other stakeholders, including
shareholders, is uncertain and is highly dependent upon a number
of factors, including the outcome of Ambrilia's proceedings under
the CCAA and there is no assurance that its creditors and other
stakeholders, including shareholders, will recover their claim or
investment.

                   About Ambrilia Biopharma

Ambrilia Biopharma Inc. (CA:AMB 0.03, -0.04, -57.14%) --
http://www.ambrilia.com/-- is a biotechnology company focused on
the discovery and development of novel treatments for viral
diseases and cancer.  The Company's strategy aims to capitalize on
its broad portfolio and original expertise in virology.
Ambrilia's product portfolio is comprised of oncology and
antiviral assets, including two new formulations of existing
peptides for cancer treatment, a targeted delivery technology for
cancer, an HIV protease inhibitor program as well as HIV integrase
and entry inhibitors, Hepatitis C virus inhibitors and anti-
Influenza A compounds.  Ambrilia's head office is located in
Montreal.

The Company is currently subject to court protection under the
CCAA.


AMERICAN TRUST BANK: Closed; Renasant Bank Assumes All Deposits
---------------------------------------------------------------
American Trust Bank of Roswell, Ga., was closed on Friday,
February 4, 2011, by the Georgia Department of Banking and
Finance, which appointed the Federal Deposit Insurance Corporation
as receiver.  To protect the depositors, the FDIC entered into a
purchase and assumption agreement with Renasant Bank of Tupelo,
Miss., to assume all of the deposits of American Trust Bank.

The three branches of American Trust Bank will reopen during
normal business hours as branches of Renasant Bank.  Depositors of
American Trust Bank will automatically become depositors of
Renasant Bank.  Deposits will continue to be insured by the FDIC,
so there is no need for customers to change their banking
relationship in order to retain their deposit insurance coverage
up to applicable limits.  Customers of American Trust Bank should
continue to use their existing branch until they receive notice
from Renasant Bank that it has completed systems changes to allow
other Renasant Bank branches to process their accounts as well.

As of December 31, 2010, American Trust Bank had around $238.2
million in total assets and $222.2 million in total deposits.  In
addition to assuming all of the deposits of the failed bank,
Renasant Bank agreed to purchase about $147.4 million of the
failed bank's assets.  The FDIC will retain the remaining assets
for later disposition.

The FDIC and Renasant Bank entered into a loss-share transaction
on $94.3 million of American Trust Bank's assets.  Renasant Bank
will share in the losses on the asset pools covered under the
loss-share agreement.  The loss-share transaction is projected to
maximize returns on the assets covered by keeping them in the
private sector.  The transaction also is expected to minimize
disruptions for loan customers.  For more information on loss
share, please visit:

http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about the transaction can call the
FDIC toll-free at 1-866-782-1969.  Interested parties also can
visit the FDIC's Web site at

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

The FDIC estimates that the cost to the Deposit Insurance Fund
will be $71.5 million.  Compared to other alternatives, Renasant
Bank's acquisition was the least costly resolution for the FDIC's
DIF.  American Trust Bank is the twelfth FDIC-insured institution
to fail in the nation this year, and the third in Georgia.  The
last FDIC-insured institution closed in the state was Enterprise
Banking Company, McDonough, on January 21, 2011.


ARYX THERAPEUTICS: Prudential Financial Holds 5.8% Equity Stake
---------------------------------------------------------------
In an amended Schedule 13G filing with the Securities and Exchange
Commission on January 31, 2011, Prudential Financial, Inc.
disclosed that it beneficially owns 1,950,717 shares of common
stock of ARYx Therapeutics, Inc., representing 5.8% of the shares
outstanding.  As of October 31, 2010, the Company had 33,461,975
shares of common stock outstanding.

                      About ARYx Therapeutics

Fremont, Calif.-based ARYx Therapeutics, Inc. (NASDAQ: ARYX)
-- http://www.aryx.com/-- is a biopharmaceutical company.  ARYx
currently has four products in clinical development: a prokinetic
agent for the treatment of various gastrointestinal disorders,
naronapride (ATI-7505); an oral anticoagulant agent for patients
at risk for the formation of dangerous blood clots, tecarfarin
(ATI-5923); an oral anti-arrhythmic agent for the treatment of
atrial fibrillation, budiodarone (ATI-2042); and, an agent for the
treatment of schizophrenia and other psychiatric disorders, ATI-
9242.

The Company's balance sheet as of September 30, 2010, showed
$6.0 million in total assets, $13.7 million in total liabilities,
and a stockholders' deficit of $7.7 million.

As reported in the Troubled Company Reporter on April 9, 2010,
Ernst & Young LLP, in Palo Alto, Calif., expressed substantial
doubt about the Company's ability to continue as a going concern,
following review of the Company's 2009 results, citing the
Company's recurring losses from operations and stockholders'
deficit.


ATLANTIC SOUTHERN: Terminates Registration of Common Stock
----------------------------------------------------------
Atlantic Southern Financial Group, Inc., filed a notice of removal
from listing or registration pursuant to Section 12(b) of the
Securities Exchange Act of 1934, on Form 25 in connection with its
common stock, no par value.

Atlantic Southern said that pursuant to 17 CFR 240.12d2-2(c), it
has complied with the rules of the Exchange and the requirements
of 17 CFR 240.12d2-2(c) governing the voluntary withdrawal of the
class of securities from listing and registration on the
Securities and Exchange Commission.

As reported in the Jan. 26, 2011 edition of the Troubled Company
Reporter, Atlantic Southern Financial, the parent company of
Atlantic Southern Bank, announced its intent to voluntarily delist
the Company's common stock from the Nasdaq Stock Market.  The
Company's board determined the costs, expenses and administrative
burden of maintaining the listing outweighed the benefits, given
the level of trading activity in the common stock and the expenses
associated with continued listing, including listing fees and
compliance costs relating to certain issues.  The Company has
immediately proceeded with delisting by providing a written notice
to Nasdaq on January 20, 2011 of its intention to delist and will
file a Form 25 with the Securities Exchange Commission on January
31, 2011.  The Company anticipates that Nasdaq will suspend
trading in the common stock within ten days of submission of its
written notice and expects the delisting from Nasdaq to become
effective February 10, 2011, ten days after filing its Form 25.

                      About Atlantic Southern

Macon, Ga.-based Atlantic Southern Financial Group, Inc. (NASDAQ:
ASFN) operates nine banking locations in the middle Georgia
markets of Macon and Warner Robins, five locations in the coastal
markets of Savannah, Darien, Brunswick, one location in the south
Georgia market of Valdosta, Georgia and one location in the
northeast Florida market of Jacksonville, Florida.  The Company
specializes in commercial real estate and small business lending.

The Company's balance sheet at September 30, 2010, showed
$852.6 million in total assets, $832.4 million in total
liabilities, and stockholders' equity of $20.2 million.

"As a result of the extraordinary effects of what may ultimately
be the worst economic downturn since the Great Depression, the
Company's and the Bank's capital have been significantly
depleted," the Company said in its Form 10-Q for the quarter ended
Sept. 30, 2010.  The Company recorded a net loss of $59.2 million
in 2009, and a net loss of $9.3 million in the first nine months
of 2010.

The Company's ability to raise additional capital will depend on
conditions in the capital markets at that time, which are outside
its control, and on its financial performance.  Accordingly, the
Company cannot be certain of its ability to raise additional
capital on terms acceptable to them.  The Company's inability to
raise capital or comply with the terms of the Order [to Cease and
Desist] raises substantial doubt about its ability to continue as
a going concern."

On September 11, 2009, the Company's wholly-owned subsidiary bank,
Atlantic Southern Bank, entered into a Stipulation and Consent to
the Issuance of an Order to Cease and Desist with the Federal
Deposit Insurance Corporation and the Georgia Department of
Banking and Finance, whereby the Bank consented to the issuance of
an Order to Cease and Desist.


AVAYA INC: Moody's Assigns 'B1' Rating to $1 Bil. Senior Notes
--------------------------------------------------------------
Moody's Investors Service assigned B1 ratings to Avaya Inc.'s
proposed $1.0 billion senior secured note offering due 2019 and
recently amended and extended senior secured term loan and
affirmed the existing 'B3' corporate family rating.  The new notes
will refinance the existing $990 million of senior secured debt
used to finance the acquisition of Nortel's enterprise assets.
The amended and extended term loan pushes the maturity of
approximately half the existing $3.7 billion term loan to 2017
from 2014.  The combined transactions should have a net neutral
impact on cash interest expense.  Both transactions serve to
reduce the wall of maturities that come due in 2014 to
$1.8 billion from $4.5 billion.  The ratings outlook is stable.

                        Ratings Rationale

The B3 rating continues to reflect the very high leverage levels
and debt service requirements at Avaya at a time when they are
integrating the significant Nortel acquisition.  The rating
acknowledges the company's industry leading position within the
enterprise telephony market and favorable replacement trends
facing the industry.  At the same time the industry is evolving to
include integrated communications offerings (including email,
instant messaging, video as well as integration into vast
corporate databases) and Avaya will need to constantly be
investing in new products and platforms to maintain their position
against a much larger and better capitalized Cisco, their primary
competitor.  Leverage as of FYE 9/30/10 was 11.6x debt to EBITDA
(on a Moody's adjusted basis which includes unfunded pension
obligations as well as adjustments for operating leases).  Despite
the strong cash balances and strong cash generating capabilities
of the underlying business, the debt service, Nortel restructuring
and integration costs, pension service and capital requirements of
the business will leave little cushion to support unforeseen
operating or integration challenges and minimal ability to make
material debt repayment.

While the transactions importantly push out the maturities,
leverage levels remain high and free cash flow minimal.  Moody's
expects the company will see continued improvement in margins and
cash flow though cash flow will likely remain negligible until
restructuring activities and transition costs dissipate in 2012.
The ratings could face upward pressure if Nortel is successfully
integrated and leverage is trending to 6.5x and free cash flow to
5%.

These ratings were affirmed:

* Corporate family rating: B3

* Probability of default: B3

* Senior Secured Revolving Credit Facility due 2013 B1, LGD 3
  (31%)

* $335 million Senior Secured ABL Revolving Credit Facility due
  2013 -B1, LGD 3 (31%)

* $700 million Senior Unsecured Bridge Loan due 2015 -- Caa2, LGD
  5 (85%)

* $750 million Senior Unsecured PIK Toggle Bridge Loan due 2015 --
  Caa2, LGD 5 (85%)

* Senior Secured Term Loan (approx. $1.8 billion) due 2014 -- B1,
  LGD 3 (31%)

These ratings were assigned:

* Senior Secured Term Loan (approx. $1.8 billion) due 2017 -- B1,
  LGD 3 (31%)

* $1.0 billion Senior Secured Notes due 2018 -- B1, LGD 3 (31%)

* Ratings outlook: stable

The debt instrument ratings were determined using Moody's Loss
Given Default Methodology and based on relative priority of the
debt instruments within the capital structure.

Moody's most recent rating action on Avaya was December 21, 2009,
when Moody's downgraded the ratings in conjunction with the Nortel
acquisition.

Avaya is a global leader in enterprise telephony systems with LTM
revenue as of September 30, 2010, of $5.1 billion.


AVISTA CORPORATION: Moody's Reviews 'Ba2' Minority Shelf Ratings
----------------------------------------------------------------
Moody's Investors Service placed the ratings for Avista
Corporation, and its affiliate Avista Corp. Capital Trust II on
review for possible upgrade.  The review includes Avista's Baa1
senior secured rating and its Baa3 senior unsecured rating.

The review for possible upgrade primarily reflects recent
regulatory rate case decisions which have improved the
predictability of Avista's cash flow and cost recovery over the
near term.

"Given the WUTC's November 19, 2010 rate settlement approval, and
a similar action taken by the IPUC in late September 2010, it
appears that Avista's key regulatory jurisdictions will continue
to support Avista's ability to generate credit metrics of CFO pre-
Working Capital to Interest around 4.0x and CFO pre-Working
Capital to Debt in the mid to high teen's, over the foreseeable
future" said Kevin Rose, Vice President -- Senior Analyst.

The review for possible upgrade will focus on Avista's ability to
address each of its near-term credit facility maturities in a
timely and financially prudent manner.  Avista has two committed
credit facilities, a $320 million facility and a $75 million
facility, both of which expire on April 5, 2011 and are secured by
First Mortgage Bonds.  In addition, the review period will allow
for a complete assessment of year end 2010 financial results,
which Moody's anticipate will approximate the aforementioned cash
flow metric levels of 4.0x interest coverage and high teen's debt
coverage.

"Moody's gives qualitative ratings consideration to the prospect
that Avista will be able to renew suitable credit facilities in
order to maintain sufficient liquidity, but Moody's does not
incorporate the assumption of unfettered market access into the
quantitative aspect of Moody's liquidity analysis" Rose added.
"In Moody's opinion, the secured nature of the credit facilities
somewhat constrains Avista's liquidity flexibility, since the
typical investment grade issuer (having an unsecured facility) can
use collateral as an option to improve bank credit access during
periods of unforeseen liquidity stress.  While the security is in
place solely at Avista's discretion, it is the near-term credit
facility expiration that is the focus of Moody's current
quantitative liquidity concerns."

An upgrade to Avista's ratings could occur with the successful
renewal of its $395 million of credit facilities and the company
having evidenced financial performance that is in-line with cash
flow levels exhibited over the past two years.

A downgrade is unlikely in the near to intermediate term, given
the current review for upgrade; however, Avista could become
subject to a rating downgrade if the company were to have trouble
renewing adequate liquidity resources over the near-term, or if
they were to receive unsupportive regulatory treatment in
subsequent rate cases over the long-term.

Avista Corp. is an energy company, primarily involved in the
production, transmission and distribution of energy through its
Avista Utilities division.  Avista is headquartered in Spokane,
Washington.

On Review for Possible Upgrade:

Issuer: Avista Corp.

  -- Issuer Rating, Placed on Review for Possible Upgrade,
     currently Baa3

  -- Multiple Seniority Medium-Term Note Program, Placed on Review
     for Possible Upgrade, currently (P)Baa1

  -- Multiple Seniority Shelf, Placed on Review for Possible
     Upgrade, currently a range of (P)Ba2 to (P)Baa1

  -- Multiple Seniority Shelf, Placed on Review for Possible
     Upgrade, currently a range of (P)Ba2 to (P)Baa1

  -- Multiple Seniority Shelf, Placed on Review for Possible
     Upgrade, currently a range of (P)Ba2 to (P)Baa1

  -- Senior Secured Bank Credit Facility, Placed on Review for
     Possible Upgrade, currently Baa1

  -- Senior Secured First Mortgage Bonds, Placed on Review for
     Possible Upgrade, currently Baa1

  -- Senior Secured First Mortgage Bonds, Placed on Review for
     Possible Upgrade, currently Baa1

  -- Senior Secured First Mortgage Bonds, Placed on Review for
     Possible Upgrade, currently Baa1

  -- Senior Secured Medium-Term Note Program, Placed on Review for
     Possible Upgrade, currently (P)Baa1

  -- Senior Secured Regular Bond/Debenture, Placed on Review for
     Possible Upgrade, currently Baa1

  -- Senior Unsecured Medium-Term Note Program, Placed on Review
     for Possible Upgrade, currently (P)Baa3

  -- Senior Unsecured Regular Bond/Debenture, Placed on Review for
     Possible Upgrade, currently Baa3

Issuer: Forsyth (City of) MT

  -- Senior Secured Revenue Bonds, Placed on Review for Possible
     Upgrade, currently Baa1

  -- Senior Secured Revenue Bonds, Placed on Review for Possible
     Upgrade, currently Baa1

Issuer: Stevens (County of) WA, Public Corporation

  -- Senior Unsecured Revenue Bonds, Placed on Review for Possible
     Upgrade, currently Baa3

Issuer Avista Corp. Capital II

  -- Trust preferred securities, Placed on Review for Possible
     Upgrade, currently Ba1

Outlook Actions:

Issuer: Avista Corp.

  -- Outlook, Changed To Rating Under Review From Positive

Issuer: Avista Corp. Capital II

  -- Outlook, Changed To Rating Under Review From Positive


AWAL BANK: First Investment of Kuwait Considers Sale of Stake
-------------------------------------------------------------
Dahlia Kholaif at Bloomberg News reports that First Investment Co.
is considering the sale of its 26.7% stake in Awal Bank BSC, the
company said in a filing with Kuwait's Stock Exchange.  First
Investment is also in an advanced stage of talks with its lenders
to restructure 90 million dinars ($321.4 million) of debts,
according to the filing.

                          About Awal Bank

Awal Bank BSC is a Bahrain lender owned by Saudi Arabian Saad
Group.  Awal Bank was principally an investment company that
provides wholesale banking services in Bahrain including the
acceptance of deposits and the making of loans.

Awal Bank was taken into administration by the Central Bank of
Bahrain on July 30, 2009, after defaulting on loans.  U.S. lawyers
for the bank said last year that under Bahrain law, Awal's
administrator had two years to decide if the bank should liquidate
or be returned to management and shareholders.

Stewart Hey, Esq., at Charles Russell LLP, as external
administrator of Awal Bank BSC, made a voluntary petition under
Chapter 15 of the U.S. Bankruptcy Code for the bank (Bankr.
S.D.N.Y. Case No. 09-15923) on Sept. 30, 2009, following the
administration proceedings.

In 2010, the bank began experiencing a liquidity squeeze brought,
in part, by the global economic crisis.  The bank ceased to
operate as a going concern since it was place into administration.

Awal Bank filed a chapter 11 petition (Bankr. S.D.N.Y. Case
No. 10-15518) in Manhattan on October 21, 2010.  The Debtor
estimated $50 million to $100 million and debts in excess of
$1 billion as of the petition date.


B&V FLORIDA: Case Summary & 6 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: B&V Florida Holdings, LLC
        88 S. Atlantic Avenue
        Ormond Beach, FL 32174

Bankruptcy Case No.: 11-00716

Chapter 11 Petition Date: February 4, 2011

Court: U.S. Bankruptcy Court
       Middle District of Florida (Jacksonville)

Debtor's Counsel: Scott W. Spradley, Esq.
                  LAW OFFICES OF SCOTT W. SPRADLEY PA
                  P.O. Box 1
                  109 South 5th Street
                  Flagler Beach, FL 32136
                  Tel: (386) 693-4935
                  Fax: (386) 693-4937
                  E-mail: scott.spradley@flaglerbeachlaw.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 six largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/flmb11-00716.pdf

The petition was signed by Daria Vidas, president.


BANKATLANTIC BANCORP: PNC Bank to Buy Tampa Franchise
-----------------------------------------------------
BankAtlantic Bancorp, Inc., announced BankAtlantic has entered
into an agreement for the sale of its Tampa - St. Petersburg
franchise to PNC Bank, N.A., part of The PNC Financial Services
Group Inc. (NYSE: PNC).  BankAtlantic had previously announced on
August 4, 2010 that it intended to concentrate its efforts in
South Florida, its core market, and was beginning to seek buyers
for its Tampa operations.  The sale of the Tampa locations will
allow BankAtlantic to focus its efforts on its primary footprint,
consisting of 79 branches, in Southeast Florida.

Under the agreement, BankAtlantic has agreed to sell its 19
branches and 2 related facilities in the Tampa - St. Petersburg
area and the associated deposits (approximately $350 million), to
PNC.  PNC has agreed to pay a premium for the deposits assumed by
PNC in the transaction plus the net book value of the acquired
real estate and fixed assets associated with the branches and
facilities.  The transaction is anticipated to close during June
2011 and is subject to regulatory approvals and other customary
terms and conditions.

The 19 affected branches will operate normally through completion
of the transaction.  Customer ATM cards, checks and accounts will
function as usual.  Customers of these branches need not take any
action at this time.  They will be contacted by PNC prior to the
branch transfer.

A full-text copy of the Purchase Agreement is available at no
charge at http://ResearchArchives.com/t/s?72c7

                    About BankAtlantic Bancorp

BankAtlantic Bancorp (NYSE: BBX) --
http://www.BankAtlanticBancorp.com/-- is a bank holding company
and the parent company of BankAtlantic.  BankAtlantic --
"Florida's Most Convenient Bank" with a Web presence at
http://www.BankAtlantic.com/-- has nearly $6.0 billion in assets
and more than 100 stores, and is one of the largest financial
institutions headquartered junior in Florida.  BankAtlantic has
been serving communities throughout Florida since 1952 and
currently operates more than 250 conveniently located ATMs.

The Company's balance sheet at Sept. 30, 2010, showed
$4.527 billion in total assets, $4.463 billion in total
liabilities, and total equity of $64.08 million.

                           *    *    *

In September 2010, Fitch Ratings downgraded the long-term Issuer
Default Ratings of BankAtlantic Bancorp. to 'CC' from 'B-' and its
primary operating subsidiary, BankAtlantic FSB to 'CC' from 'B+.
The 'CC' long-term IDR indicates a high default probability.

Fitch said it believes that BBX will likely require external
capital support given the high level of credit costs that continue
to impact BBX's financial performance and erode its existing weak
level of tangible common equity, which stood at just 1.39% at
June 30, 2010.  Although BFSB's regulatory capital levels remain
'well-capitalized', Fitch believes the company needs additional
capital in order to provide absorption for future losses,
particularly since earnings generation on a pre-provision net
revenue basis is weak.


BANKUNITED FINANCIAL: Committee Can Pursue Some D&O Claims
----------------------------------------------------------
WestLaw reports that a cause of action asserted by an unsecured
creditors' committee against a common officer of the Chapter 11
debtor, a bank holding company, and a wholly-owned bank in
receivership of the Federal Deposit Insurance Corporation, seeking
to recover from the officer for his alleged breach of his duty of
loyalty and care in not providing the holding company's board with
sufficient information to evaluate whether it should make an
$80 million capital contribution to the bank, with the result that
this contribution was lost when the bank was placed into FDIC
receivership, was tied completely to the failure of the bank.
Thus, it was in nature of a derivative claim that belonged, not to
the unsecured creditors' committee, but to the FDIC.  In re
BankUnited Financial Corp., --- B.R. ----, 2010 WL 5652772 (Bankr.
S.D. Fla.) (Isicoff, J.).

As reported in the Troubled Company Reporter on June 1, 2010, the
Official Committee of Unsecured Creditors of Bankunited Financial
Corporation sued the FDIC, as Receiver for BankUnited, FSB (Bankr.
S.D. Fla. Adv. Pro. No. 10-3075), to straighten out who owns
claims against former officers and directors.  In a summary
judgment order dated Nov. 15, 2010, the Honorable Laurel M.
Isicoff says that:

     (1) the Committee's cause of action for alleged fiduciary
         breach that resulted in diminution in the value of the
         bank and, thus, of the debtor's equity interest therein,
         was in the nature of a derivative claim, which can only
         be pursued by the FDIC;

     (2) the Committee's cause of action to recover for alleged
         breach of duty of care in connection with the debtor-
         holding company's improvident stock repurchase and
         payment of a dividend is in the nature of a direct claim
         that is not based upon any injury to the bank, and that
         can be pursued by creditors' committee rather than the
         FDIC; and

     (3) the Committee's cause of action to recover from an
         officer for his alleged breach of duty of loyalty and
         care in not providing holding company's board with
         sufficient information to evaluate whether it should make
         an $80 million capital contribution to bank, with the
         result that contribution was lost when bank was placed
         into FDIC receivership, was tied completely to the
         failure of the bank, and was in the nature of a
         derivative claim.

                   About BankUnited Financial

BankUnited Financial Corp. (OTC Ticker Symbol: BKUNQ) --
http://www.bankunited.com/-- was the holding company for
BankUnited FSB, the largest banking institution headquartered in
Coral Gables, Florida.  On May 21, 2009, BankUnited FSB was closed
by regulators and the Federal Deposit Insurance Corporation
facilitated a sale of the bank to a management team headed by John
Kanas, a veteran of the banking industry and former head of North
Fork Bank, and a group of investors led by W.L. Ross & Co.
BankUnited, FSB, had assets of $12.8 billion and deposits of
$8.6 billion as of May 2, 2009.

The Company and its affiliates filed for Chapter 11 on May 22,
2009 (Bankr. S.D. Fla. Lead Case No. 09-19940).  Stephen P.
Drobny, Esq., and Peter Levitt, Esq., at Shutts & Bowen LLP; Mark
D. Bloom, Esq., and Scott M. Grossman, Esq., at Greenberg Traurig,
LLP; and Michael C. Sontag, at Camner, Lipsitz, P.A., represent
the Debtors as counsel.  Corali Lopez-Castro, Esq., David Samole,
Esq., at Kozyak Tropin & Throckmorton, P.A.; and Todd C. Meyers,
Esq., at Kilpatrick Stockton LLP, serve as counsel to the official
committee of unsecured creditors.

In its bankruptcy petition, BankUnited Financial Corp. said it has
assets of $37,729,520 and debts of $559,740,185.

Wilmington Trust Co., U.S. Bank, N.A., and the Bank of New York
were listed among the company's largest unsecured creditors in
their roles as indentured trustees.  BankUnited estimated
the Bank of New York claim tied to convertible securities at
$184 million.  U.S. Bank and Wilmington Trust are owed
$120,000,000 and $118,171,000 on account of senior notes.


BELDEN INC: Moody's Affirms 'Ba1' Rating, Gives Stable Outlook
--------------------------------------------------------------
Moody's Investors Service affirmed Belden Inc.'s Ba1 rating and
revised its ratings outlook to stable from negative.  The
stabilization is driven by the company's strong recovery from the
downturn as demonstrated by its year end 2010 results and its
improving credit metrics which are again approaching levels
appropriate for the Ba1 rating.

The company grew revenue 16% in 2010 and grew operating income
from continuing operations approximately 34% to $150 million from
$112 million in FY 2009 (results adjusted for acquisitions and
divestitures).  The improvements were a result of global economic
growth (particularly in the manufacturing and general industrial
sector), strength in the company's brands as well as continued
restructuring of operations.  Leverage improved to approximately
3.4x at year-end 2010 from 5.9x as of year-end 2009.  Leverage is
defined as debt to EBITDA with Moody's standard adjustments for
pensions and operating leases.  Moody's views these trends
favorably and expects that in the absence of a large acquisition
the company will reduce leverage to below 3x by year end 2011.
The company is acquisitive and while recent acquisitions have been
moderate, the potential for large debt funded acquisitions remains
which could have negative ratings implications.

The Ba1 CFR reflects Belden's leading positions within segments of
the enterprise and industrial cabling and connectivity product
markets and the company's significant geographic and end customer
diversification.  However, the rating incorporates the cyclicality
of the business, as evidenced by the 29% revenue decline in fiscal
year 2009 due to the challenging macroeconomic environment, and
the company's exposure to volatile raw material prices.  Belden's
leverage levels are currently elevated in relation to pre-downturn
levels and to Ba1-rated manufacturing peers but is expected to
reach appropriate levels by year end 2011.  Belden's internal
liquidity remains solid and critical to maintaining the Ba1 rating
(with approximately $359 million in cash as of December 31,
2010, and approximately $218 million in availability under its
$230 million revolver).

The company actively looks to expand its product lines, vertical
markets and platforms through acquisitions as the company
continues its diversification away from being primarily a cable
manufacturer.  While a large debt financed acquisition would not
automatically lead to negative ratings pressure, it could if it
results in leverage remaining at levels more appropriate for a
lower rating.

These ratings were affirmed and LGD assessment revised:

* Corporate Family Rating -- Ba1

* Probability of Default Rating -- Ba1

* $230 million Senior Secured Revolver due 2013 -- Baa1 assessment
  revised to (LGD1, 5%) from (LGD1, 6%)

* $350 million Senior Subordinated Notes due 2017 -- Ba2, (LGD4,
  64%)

* $200 million Senior Subordinated Notes due 2019 -- Ba2, (LGD4,
  64%)

The rating outlook is stable.

Moody's most recent rating announcement was on February 23, 2010,
when Moody's affirmed Belden's ratings.

Belden Inc. is a leading designer and manufacturer of connectivity
and signal transmission products for the global network
communication and specialty electronic marketplaces with trailing
twelve month revenues of approximately $1.6 billion.  The company
is headquartered in St. Louis, Missouri.


BELMONT & HUDSON: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Belmont & Hudson, LLC
        236 Waukegan Road
        Glenview, IL 60025

Bankruptcy Case No.: 11-04250

Chapter 11 Petition Date: February 3, 2011

Court: U.S. Bankruptcy Court
       Northern District of Illinois (Chicago)

Judge: Jacqueline P. Cox

Debtor's Counsel: Karen J. Porter, Esq.
                  PORTER LAW NETWORK
                  230 West Monroe, Suite 240
                  Chicago, IL 60606
                  Tel: (312) 372-4400
                  Fax: (312) 372-4160
                  E-mail: kjplawnet@aol.com

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

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

The Company did not file a list of creditors together with its
petition.

The petition was signed by George J. Bahramis, sole member.


BERNARD L MADOFF: Picard Suit vs. Mets Owners Unsealed
------------------------------------------------------
Irving H. Picard, the Trustee for the liquidation of Bernard L.
Madoff Investment Securities LLC disclosed that his complaint
against Sterling Equities, its partners, their family members, and
certain related trusts and entities -- initially filed under seal
on December 7, 2010 in the United States Bankruptcy Court for the
Southern District of New York -- will be unsealed at the Trustee's
request and its details made available to the public.

"Given the high level of public interest in this matter and the
equally high level of misinformation and incorrect assertions
currently circulating, we are pleased that the facts in the
complaint can now speak for themselves, clearly and convincingly,"
said David J. Sheehan, counsel to the Trustee and a partner at
Baker & Hostetler LLP, the court appointed counsel for the
Trustee.

"Attempts to negotiate with the Sterling Defendants have not
resulted in a resolution of the amount owed to the Madoff Customer
Fund," said Mr. Sheehan.  "We believe that the Sterling Defendants
received substantial funds -- in the hundreds of millions of
dollars -- illegally through their BLMIS accounts and we seek
these recoveries for ultimate distribution to BLMIS customers with
valid claims."

"There are thousands of victims of Bernard Madoff's massive Ponzi
scheme.  Saul Katz is not one of them.  Neither is Fred Wilpon.
And neither are the rest of the Sterling Equities' partners," said
Fernando A. Bohorquez, Jr., a Baker & Hostetler partner
representing the Trustee.  "In fact, Saul Katz, Fred Wilpon, the
other Sterling partners, their families, their related trusts, and
their various privately held entities were collectively one of the
largest beneficiaries of Madoff's fraud, reaping hundreds of
millions in fictitious profits over Sterling's quarter-century
relationship with Madoff."

The complaint states that the Katz and Wilpon families and
businesses were deeply linked to Madoff for more than 20 years.
The Sterling partners, their family members, trusts and Sterling-
related entities held approximately 300 BLMIS accounts.  "Saul
Katz, Fred Wilpon and their partners capitalized on their close
personal connection with Madoff and used their BLMIS investments
to anchor the Sterling empire.  Madoff money flowed through every
aspect of Sterling's business; whether real estate, baseball or
private equity, virtually every Sterling business held investments
with BLMIS," said Mr. Bohorquez.

The complaint states that the Sterling partners all had close
personal and business ties to Madoff, and used their fraudulent
accounts with BLMIS as collateral for financing for more than two
decades in order to secure capital under favorable terms.
Additionally, Sterling steered close to 180 referrals to BLMIS --
including their own employees through a 401(k) plan -- thereby
channeling hundreds of millions of dollars into the Madoff Ponzi
scheme. Madoff also invested millions in various Sterling
ventures.

"Given Sterling's dependency on Madoff, it comes as no surprise
that the partners willfully turned a blind eye to every red flag
of fraud before them.  The warning signs were many and varied,
ranging from cautionary counsel from financial industry experts
and trusted advisors to Madoff's schemes to avoid regulatory
scrutiny. The Sterling partners even invested in the Bayou Ponzi
scheme before BLMIS's collapse.  That scheme bore similar markings
to the Madoff fraud," said Mr. Bohorquez.

"The Sterling partners are not your average investors; they are
sophisticated real estate businessmen and major league baseball
franchise owners who built a massive, diversified business
empire," said Mr. Bohorquez.  "Despite being on notice and having
every resource at their disposal to investigate the litany of
legitimate questions surrounding Madoff, the Sterling partners
chose to blindly accept their good fortune without conducting any
investigation whatsoever."

In addition to Mr. Sheehan and Mr. Bohorquez, the Trustee
acknowledges the contributions of the Baker & Hostetler attorneys
who worked on this filing: Thomas Lucchesi, Lauren Resnick,
Kathryn Zunno, Amanda Fein, Keith Murphy, Marc Skapof, and George
Klidonas.

                           *     *     *

Aaron Elstein, writing for Crain's New York Business, reports that
the 365-page document provides stunning detail about the
relationship between Bernard Madoff and the Wilpon family and
their business entities, which go by a variety of names often
beginning with Sterling.  The suit alleges that the Wilpons, their
associates and businesses withdrew $300 million in "fictitious
profits" from Mr. Madoff, including $90 million by the Mets.  It
says that a "cycle of dependency" grew between Sterling and Mr.
Madoff.

The report notes that whenever the Mets needed money its owners
could always turn to Mr. Madoff to help them out.  The Wilpons'
numerous accounts with Mr. Madoff were "important to the smooth
operations of the Mets" and helped fund the team's day-to-day
operations, said the suit.

According to the report, the Wilpons denied the charges and said
the suit was a "flagrant abuse" of the trustee's power.

Sterling Equities Inc., the owner of the Mets; Mets LP, and Fred
and Jeff Wilpon were sued by Mr. Picard on Dec. 7 in Bankruptcy
Court.  Mr. Picard, who filed the suit under seal, alleges Mets
LP had two accounts with Mr. Madoff that involved taking out $47.8
million more than the Wilpons invested.  The case is Picard v.
Katz, Adv. Pro. No. 10-5287 (Bankr. S.D.N.Y.).

                      About Bernard L. Madoff

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

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

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

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

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

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

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


BERNARD L MADOFF: Mets Bayou Accord May Be Model for Suit Deal
--------------------------------------------------------------
Linda Sandler and Bob Van Voris at Bloomberg News report that The
owners of the New York Mets baseball team, subject to a demand by
the trustee liquidating Bernard Madoff's firm to pay $1 billion to
end a fraud lawsuit, may model any settlement on a deal they
struck over their involvement in the Bayou Group LLC's Ponzi
scheme.

The Bloomberg report relates that in the Bayou settlement,
the Mets owners gave up all fake profits they made in that
$400 million fraud plus 44% of their principal after a judge ruled
their initial investment could be pursued because of "red flags"
they saw about the possibility of a fraud.

Irving Picard, the trustee for Bernard L. Madoff Investment
Securities LLC, had said in court papers that he wants to recover
about $300 million in alleged phony profits from Mr. Madoff's
scheme made by Sterling Equities Inc., which owns the Mets
baseball team, Mets Chairman Fred Wilpon, Mets President Saul Katz
and Chief Operating Officer Jeff Wilpon, and other related
parties.  Mr. Picard also demanded an unspecified amount of
principal back from the Sterling defendants.

According to Bloomberg, Mr. Picard lawyer David Sheehan, Esq.,
said Friday the trustee is seeking a total of $1 billion from the
defendants.  To recover the additional $700 million, the trustee
must prove, "using the red flags and other evidence," that the
Sterling defendants had enough information that they should have
discovered the fraud, Mr. Sheehan said in an e-mail.

The Wilpons have said they are exploring the possibility of
selling as much as 25% of the Mets to deal with any "uncertainty"
generated by Mr. Picard's suit.  According to Bloomberg, such a
sale might produce no more than $215 million, based on estimated
valuations of the team.  The amount of principal Mr. Picard
recovers through settlement or trial might require selling more
assets.

Mr. Picard, Bloomberg notes, didn't specify in the complaint how
much principal he wants, saying that would be determined at trial
or before.  The Wilpons and their lawyers didn't say how much the
owners had invested with Madoff, saying only that there was $500
million in their accounts when the fraud was revealed.  Mr. Picard
said Mr. Madoff took in a total of $20 billion in principal from
clients who thought they had $68 billion in their accounts.

According to Bloomberg, in the Bayou hedge-fund case, the
bankruptcy judge said investors who saw "red flags" indicating a
fraud can be forced to give back principal as well as profits.
Mr. Picard's 373-page complaint cites "many red flags" that should
have warned the Sterling partners that Mr. Madoff was a fraud.

Merrill Lynch & Co., now part of Bank of America Corp., was a 50%
partner with an entity affiliated with Mets owners.  It had "a
long-standing prohibition" against investing with Mr. Madoff, and
told Saul Katz in 2007 that Mr. Madoff wouldn't pass Merrill
Lynch's "due diligence protocols," according to Mr. Picard's
complaint.

The case is Picard v. Katz, 10-05287 (Bankr. S.D.N.Y.).

                      About Bernard L. Madoff

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

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

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

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

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

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

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


BLUE RIBBON: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Blue Ribbon Stairs, Inc.
        dba BRS Building Products
        fdba BRS
        5860 Alder Ave, Ste 500
        Sacramento, CA 95828

Bankruptcy Case No.: 11-22685

Chapter 11 Petition Date: February 2, 2011

Court: United States Bankruptcy Court
       Eastern District of California (Sacramento)

Judge: Robert S. Bardwil

Debtor's Counsel: Julia P. Gibbs, Esq.
                  LAW OFFICES OF JULIA P. GIBBS
                  1329 Howe Ave #205
                  Sacramento, CA 95825-3363
                  Tel: (916) 646-2800
                  Fax: (916) 929-1158
                  E-mail: judy@gibbslegal.com

Scheduled Assets: $1,052,805

Scheduled Debts: $2,449,376

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/caeb11-22685.pdf

The petition was signed by Daniel L. Meneley, president.


BORDERS GROUP: John Wiley Records $9 Million Bad Debt Expense
-------------------------------------------------------------
John Wiley & Sons Inc. disclosed in a Form 8-K delivered to the
Securities and Exchange Commission on Fri., Feb. 4, 2011, that it
stopped shipping books to Borders Group Inc. in Dec. 2010, and
will record a $9 million pre-tax ($6 million after-tax) bad debt
expense in the third quarter of fiscal year 2011.  This net
charge, Wiley says, represents the difference between Wiley's
outstanding receivable with Borders and its expectation of
potential offsets and recoveries in the future, and existing
reserves.  Wiley says it does not expect to record any additional
charge or bad debt expense with respect to Borders.

Susan Spilka, Wiley's Vice President, Corporate Communications,
advises that Wiley does not intend to disclose the gross amount
Borders Group owed as of Dec. 31, 2010, until its next scheduled
conference call in conjunction with its third quarter earnings
release on March 10, 2011.

                       About Borders Group

Headquartered in Ann Arbor, Mich., 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.  Borders is the nation's second-
largest bookstore chain by revenue, behind Barnes & Noble Inc.

As of October 30, 2010, Borders had total assets of
$1.35 billion, total liabilities of $1.40 billion, and a
stockholders' deficit of $40.8 million.

Borders received a financing commitment of $550 million from the
General Electric unit on Jan. 27.  The funding had several
conditions including securing $175 million from other lenders and
$125 million in junior debt provided by vendors and lenders.  The
funding is also contingent on Borders completing a program to
close stores.  Borders said on Dec. 30, 2010, that it was
delaying payments to some publishers.

News sources report that Borders has tapped Jefferies & Co. for
investment banking services, has turned to Kasowitz, Benson,
Torres & Friedman for legal advice, and has hired restructuring
specialist FTI Consulting Inc. for additional advice and counsel.
The New York Times has reported that Lowenstein Sandler is
providing legal counsel and Alvarez & Marsal is providing other
corporate restructuring guidance to a group of publishers.


BORDERS GROUP: Receives Non-Compliance Notice from NYSE
-------------------------------------------------------
Borders Group, Inc. reported that on Feb. 3, 2011, it was notified
by NYSE Regulation, Inc. that it was not in compliance with the
continued listing standard of the New York Stock Exchange, Inc.
requiring a minimum average closing price of $1.00 per share over
a consecutive 30 trading day period.  Subject to providing
required notice to the NYSE, the company is entitled to a six-
month period from the date of the notification to cure this
deficiency.  During this period, Borders' shares would continue to
be listed and traded on the NYSE, subject to its compliance with
other NYSE continued listing standards.

                       About Borders Group

Headquartered in Ann Arbor, Mich., 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.  Borders is the nation's second-largest
bookstore chain by revenue, behind Barnes & Noble Inc.

As of October 30, 2010, Borders had total assets of
$1.35 billion, total liabilities of $1.40 billion, and a
stockholders' deficit of $40.8 million.

Borders received a financing commitment of $550 million from the
General Electric unit on Jan. 27.  The funding had several
conditions including securing $175 million from other lenders and
$125 million in junior debt provided by vendors and lenders.  The
funding is also contingent on Borders completing a program to
close stores.  Borders said on Dec. 30, 2010, that it was
delaying payments to some publishers.

News sources report that Borders has tapped Jefferies & Co. for
investment banking services, has turned to Kasowitz, Benson,
Torres & Friedman for legal advice, and has hired restructuring
specialist FTI Consulting Inc. for additional advice and counsel.
The New York Times has reported that Lowenstein Sandler is
providing legal counsel and Alvarez & Marsal is providing other
corporate restructuring guidance to a group of publishers.


BROOKLYN'S CHOPHOUSE: Owner to File for Chapter 11 Bankruptcy
-------------------------------------------------------------
The Wichita Eagle and the Wichita Business Journal report that
that David Chaffin, owner of Brooklyn's Chophouse & Brew Tavern,
said he is about to file for Chapter 11 bankruptcy protection.

According to the Business Journal, Mr. Chaffin's announcement the
prior week of that he plans to sell more than 1,000 pieces of
sports memorabilia in an effort to pay down debt prompted a
lawsuit from his lender.  The Bank of Kansas is suing him for more
than $1.7 million plus almost $60,000 in interest, according to
the Wichita Eagle.

Mr. Chaffin, according to the Wichita Eagle, said he was selling
memorabilia left from when the business was Players Sports Bar &
Grill in a restructuring effort to pay debt.

"I think that forced their hand," the Eagle quotes Mr. Chaffin as
saying.  "The person who loaned Chaffin the money for the
memorabilia has a lien on it for about $130,000.  Mr. Chaffin says
any proceeds from the [Feb. 8, 2011], sale will then go to the
bank."

The Business Journal says Mr. Chaffin has estimated that the
February sale, which includes items with values from $25 to
$5,000, could raise up to $200,000.


BUILDERS FIRSTSOURCE: Robotti, 5.3% Owner, Recommend Korn
---------------------------------------------------------
On January 26, 2011, the Robitti Entities sent a letter to
Builders Firstsource, Inc. recommending Mr. Joseph Korn as a
candidate for the Company's Board of Directors.

In an amended Schedule 13D filing with the Securities and Exchange
Commission on January 31, 2011, Robert E. Robotti disclosed that
he beneficially owns 5,083,660 shares of common stock of the
Company representing 5.3% of the shares outstanding.  Other
affiliates of Mr. Robotti also disclosed beneficial ownership of
common shares of the Company:

                                           Shares        Equity
                                    Beneficially Owned   Stake
                                    ------------------   ------
Robotti & Company, Incorporated         2,941,511        3.0%
Robotti & Company, LLC                     66,450          1%
Robotti & Company Advisors, LLC         2,859,711        3.0%
Suzanne Robotti                            30,000          1%
Kenneth R. Wasiak                       2,112,149        2.2%
Ravenswood Management Company, LLC      2,112,149        2.2%
The Ravenswood Investment Company, L.P. 1,505,150        1.6%
Ravenswood Investments III, L.P.          606,999          1%

The percentages are based on 96,871,621 shares of Common Stock,
Par Value $0.01 per share outstanding as of October 26, 2010 as
disclosed in the Company's Quarterly Report on Form 10-Q, for
period ended September 30, 2010.

The aggregate purchase price of the 15,350 shares of Common Stock
held by ROBT is $51,698.  All of the shares of Common Stock
beneficially held by ROBT were paid for using its working capital.

The aggregate purchase price of the 66,450 shares of Common Stock
held by Robotti & Company is $240,874.  All of the shares of
Common Stock beneficially held by Robotti & Company were paid for
using the personal funds of its discretionary customers.

The aggregate purchase price of the 2,859,711 shares of Common
Stock held by Robotti & Advisors is $9,895,919.  All of the shares
of Common Stock beneficially held by Robotti & Advisors were paid
for using the personal funds of its advisory clients.

The aggregate purchase price of the 30,000 shares of Common Stock
held by Suzanne Robotti is $101,273.  All of the shares of Common
Stock beneficially held by Suzanne Robotti were paid for using her
personal funds.

The aggregate purchase price of the 1,505,150 shares of Common
Stock held by RIC is $5,328,681.  All of the shares of Common
Stock beneficially held by RIC were paid for using its working
capital.

The aggregate purchase price of the 606,999 shares of Common Stock
held by RI is $2,141,280.  All of the shares of Common Stock
beneficially held by RI were paid for using its working capital.

                    About Builders FirstSource

Headquartered in Dallas, Texas, Builders FirstSource Inc. --
http://www.bldr.com/-- supplies and manufactures building
products for residential new construction.  The Company operates
in 9 states, principally in the southern and eastern United
States, and has 55 distribution centers and 51 manufacturing
facilities, many of which are located on the same premises as its
distribution facilities.

The Company's balance sheet at Sept. 30, 2010, showed
$442.28 million in total assets, $259.74 million in total
liabilities, and stockholder's equity of $182.54 million.

                           *     *     *

Builders FirstSource Inc. carries 'CCC+' issuer credit ratings,
with negative outlook, from Standard & Poor's.  It has a 'Caa1'
long term corporate family rating and 'Caa3' probability of
default ratings, with negative outlook, from Moody's Investors
Service.

In July 2010, when S&P revised the rating outlook to negative and
affirmed the ratings, S&P said the 'CCC+' corporate credit rating
reflects what S&P considers to be the company's vulnerable
business risk and highly leveraged financial profile.  The rating
also reflects Builders FirstSource's exposure to the new
residential construction market, which is experiencing a prolonged
slump, faces highly competitive markets, and has a limited end-
market focus.  In addition, the company's EBITDA loss was
approximately $32 million for the 12 months ended June 30, 2010,
compared with $29 million for the same period a year ago, leading
to its highly leveraged financial profile.  Given its weak
earnings, a trend S&P expects to continue in the near term,
combined with low levels of housing starts and highly competitive
market conditions, S&P expects EBITDA to remain negative through
the remainder of 2010.


C&D TECHNOLOGIES: Announces Plan for Reverse Stock Split
--------------------------------------------------------
C&D Technologies, Inc., announced that on January 26, 2011, the
Board of Directors of the company approved and recommended, and on
January 31, 2011, the majority stockholder of the Company's common
stock representing 65.2% of the Company's issued and outstanding
voting securities, approved by written consent pursuant to Section
228 of the General Corporation Law of the State of Delaware, the
corporate actions.  The Company will file an Information Statement
on Schedule 14C with the Securities and Exchange Commission, in
accordance with its obligations under federal securities laws as
promptly as is reasonably practicable.  Corporate Action 1 and
Corporate Action 2 will not be effective until a minimum of 20
calendar days after the mailing of the Information Statement to
the Company's stockholders.  The Information Statement will
describe all of the Corporate Actions in detail.

                         Corporate Action 1:
             Amendment to Certificate of Incorporation

Having received the consent of the Majority Stockholder, an
amendment to the Company's amended and restated certificate of
incorporation to decrease the number of authorized shares of the
Company's common stock, par value $.01 per share, from 600,000,000
to 25,000,000 was duly approved by the Company's stockholders.
The Amended and Restated Certificate of Incorporation will not be
effective until a minimum of 20 calendar days after the mailing of
the Information Statement to our stockholders.

               Corporate Action 2: Reverse Stock Split

Having received the consent of the Majority Stockholder, an
amendment to the Amended and Restated Certificate of Incorporation
to effect a reverse stock split of the issued and outstanding and
treasury shares of Common Stock at a ratio of 1-for-35, pursuant
to which each 35 shares of the issued and outstanding and treasury
shares of Common Stock will be combined and reclassified into 1
share of Common Stock, was duly approved by the Company's
stockholders.  Each stockholder otherwise entitled to receive a
fractional share of common stock as a result of the reverse stock
split will receive one full share of common stock in lieu of the
Company issuing that fractional share or paying cash in respect
thereof.  The amendment to the Amended and Restated Certificate of
Incorporation effecting the reverse stock split of the issued and
outstanding and treasury shares of Common Stock at a ratio of 1-
for-35 will not be effective until a minimum of 20 calendar days
after the mailing of the Information Statement to the Company's
stockholders.

               Corporate Action 3: Stock Option Plan

Having received the consent of the Majority Stockholder, the
Company's 2011 Stock Option Plan, which will allow the Company to
make grants of incentive and nonqualified stock options to its
employees, including the Company's named executive officers,
directors, and consultants, was duly approved by the Company's
stockholders.  The 2011 Stock Option Plan reserves 52,989,895
shares of the Company's Common Stock for issuance, which will be
adjusted to 1,513,997 after the reverse stock split is effected.
The 2011 Stock Option Plan will also be subject to adjustment in
the event of any other stock dividends, stock splits, reverse
stock splits, recapitalizations, reorganizations, mergers,
consolidations, combinations, exchanges, or other similar changes
in the outstanding Common stock or capital structure of the
Company.  No options will be granted under the 2011 Stock Option
Plan until a minimum of 20 calendar days after the mailing of the
Information Statement to the Company's stockholders.

                       About C&D Technologies

C&D Technologies, Inc., is a manufacturer, marketer and
distributor of electrical power storage systems for the standby
power storage market.  The Company makes lead acid batteries and
standby power systems that integrate lead acid batteries with
other electronic components, which are used to provide backup or
standby power for electrical equipment in the event of power loss
from the primary power source.

The Company's balance sheet at Oct. 31, 2010, showed
$250.37 million in assets, $265.79 million in liabilities and
a stockholders' deficit of $15.42 million.

C&D Technologies in December 2010 escaped a bankruptcy filing
after completing an out-of-court restructuring that reduced the
Company's total debt from approximately $175 million to
$50 million.  The Company in September had entered into a
restructuring support agreement with noteholders to a
restructuring that will be effected through (i) an offer to
exchange the Company's outstanding 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, if
the exchange offer fails to get the requisite support.  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.


CAPMARK FINANCIAL: Bank Acquires Harford County Golf Course
-----------------------------------------------------------
Allan Vought at the Baltimore Sun's The Aegis reports that the
Mountain Branch Golf Course in Joppa, Harford County, Maryland,
was acquired by Capmark Bank, a wholly owned subsidiary of Capmark
Financial Group.

According to Tim Dunlop, an executive with Sequoia Golf
Management, the purchase of the course by Capmark Bank will bring
"stability" and the financial ability to make any necessary
improvements to the 18-hole, par 72, 7,038-yard course bordered by
Mountain, Singer, Clayton and Stockton roads.

The Aegis relates that Capmark Bank is at least the fourth owner
at Mountain Branch.  According to the press release Sequoia Golf
put out announcing the Mountain Branch ownership change, Midvale,
Utah, based Capmark has about $8 billion in assets and owns 20
golf course properties.

                       About Capmark Financial

Based in Horsham, Pennsylvania, Capmark Financial Group Inc. --
http://www.capmark.com/-- provides financial services to
investors in commercial real estate-related assets.  Capmark has
three core businesses: lending and mortgage banking, investments
and funds management, and servicing.  Capmark operates in North
America, Europe and Asia.  Capmark has 1,000 employees located in
37 offices worldwide.

On October 25, 2009, Capmark Financial and certain of its
subsidiaries filed voluntary petitions for relief under Chapter 11
(Bankr. D. Del. Lead Case No. 09-13684).  Capmark disclosed assets
of US$20 billion against total debts of US$21 billion as of
June 30, 2009.

Capmark's financial advisors are Lazard Freres & Co. LLC and
Loughlin Meghji + Company.  Capmark's bankruptcy counsel is Dewey
& LeBoeuf LLP.  Richards, Layton & Finger, P.A., serves as local
counsel.  Beekman Advisors, Inc., is serving as strategic advisor.
KPMG LLP is tax and accounting advisor.  Epiq Bankruptcy
Solutions, LLC, is the claims and notice agent.

Protech Holdings C, LLC, an affiliate of Capmark, filed for
Chapter 11 protection on July 29, 2010 (Bankr. D. Del. Case No.
10-12387).  The Debtor estimated assets and debts in excess of
$1 billion as of the filing date.

Since filing in Chapter 11, Capmark completed three sales to
generate more than $1 billion cash.  Berkshire Hathaway Inc. and
Leucadia National Corp. bought most of the business for
$468 million.


CARIS DIAGNOSTICS: S&P Affirms 'B' Corporate Credit Rating
----------------------------------------------------------
Standard & Poor's Ratings Services affirmed its ratings on Irving,
Texas-based Caris Diagnostics Inc., including the 'B' corporate
credit rating.  The corporate credit and issue-level ratings were
removed from CreditWatch, where they had been placed with negative
implications Nov. 24, 2010, based on Caris' tightened liquidity
and potential for breaching a credit agreement covenant.  On
Feb. 1, the loan agreement was amended, including a loosening of
the covenants.

"The low-speculative-grade ratings on Caris, a provider of
anatomic pathology services, reflect S&P's view that the revised
covenants afford limited headroom," said Standard & Poor's credit
analyst Gail Hessol.

Caris' narrow operating focus, early-stage status, and increasing
price pressure from powerful commercial and government payors
result in a weak business profile.  The financial risk profile,
which S&P characterize as highly leveraged, is weighed down by the
potential for liquidity issues given tight financial covenants.

Caris' weak business profile overwhelmingly reflects the company's
limited business scope, youth, relatively small scale and the
ability of key commercial and government payors to set prices for
the diagnostic services industry.  Pricing pressure from
commercial and government payors has intensified and contributed
to Caris' lower profit margins in 2010.  A growing portion of
Caris' revenue is now billed at lower in-network rates.  In-
network payments have steadily grown from 56% of revenue in the
first quarter of 2009 to 66% in the third quarter of 2010 and S&P
expects this figure to rise another 3% early in 2011.

Notwithstanding Caris' solid and growing niche position in
anatomic pathology for the gastroenterology and dermatology
sectors, the company is much smaller and its offerings are much
less diverse than those of competitors like Quest Diagnostics Inc.
and Laboratory Corporation of America Holdings. In addition, Caris
must compete in its highly fragmented markets with smaller
providers.

Caris is a young company and in the past several quarters,
performance reflected the uneven results that are frequently
associated with ramping up immature operations.  Caris
substantially expanded its laboratory capacity and staff over the
past two years.  The hematopathology business, which Caris
launched in 2009, continues to generate losses before interest,
taxes, depreciation and amortization (negative EBITDA), although
volume is growing and heme financial results have shown
improvement.  Overall adjusted operating profit margins declined
in 2010 and S&P generally expects lower margins to persist,
probably with some quarter-to-quarter fluctuations.


CASCADE BANCORP: Amends Bylaw to Increase Directors to Eleven
-------------------------------------------------------------
On January 28, 2011, Cascade Bancorp amended its bylaws to
increase the number of authorized directors from nine to eleven.

                      About Cascade Bancorp

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

The Company's balance sheet at Sept. 30, 2010, showed
$1.83 billion in total assets, $1.82 billion in total liabilities,
and stockholder's equity of $8.85 million.

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


CASCADE BANCORP: Gets $177MM to Reach "Well Capitalized" Levels
---------------------------------------------------------------
Cascade Bancorp said it has successfully completed its
$177 million capital raise.  New capital investment proceeds in
the amount of $166.2 million were received on January 28, 2011, of
which approximately $150 million have been contributed to the
Company's wholly owned banking subsidiary, Bank of the Cascades.
In addition, approximately $15 million of the capital raise
proceeds have been used to retire $66.5 million of the Company's
Trust Preferred Debentures and related accrued interest of $3.9
million, resulting in a $55.0 million gain to be recorded in the
first quarter of 2011.  The effect of these actions lifts the
Company's and the Bank's pro forma capital position in excess of
"well capitalized" levels and substantially in excess of the
capital levels required under the Company's agreements with
regulators.  The Bank's December 31, 2010 pro forma total risk-
based capital ratio is estimated at 18.3% and Tier 1 leverage
ratio is estimated at 11.9%.  Private placement investors include,
among others: David F. Bolger, private equity funds affiliated
with Lightyear Capital LLC, private equity funds affiliated with
Leonard Green & Partners, L.P. and private equity funds affiliated
with WL Ross & Co. LLC.

"I am pleased that the Company has successfully concluded its
capital raise effort and achieved strong capital levels," said CEO
and President Patricia L. Moss.  "This capital raise underscores
the confidence of our new investors in Cascade's markets and our
prospects for effectively banking the communities we serve.  We
are excited not only for our company and our employees, but also
for our customers.  As a well capitalized community banking
franchise, we believe that we can offer our customers a
combination of tailored banking products and personal service that
will best serve the Oregon and Idaho communities."

In connection with the closing, the Company issued approximately
44.2 million shares of common stock.  Subsequent to this
transaction, each of Leonard Green, Lightyear and WL Ross owns
approximately 24.4%, and Mr. Bolger owns approximately 14.0%, of
the Company's outstanding common stock.  As part of the capital
raise three representatives of the new investors have been
appointed to the Board of Directors of each of the Company and
Bank of the Cascades.  The new Board members include Michael J.
Connolly, partner of LGP, James B. Lockhart III, Vice Chairman of
WL Ross, and Chris Casciato, Managing Director and member of the
Investment Committee of Lightyear. Keefe, Bruyette & Woods, Inc.
(KBW) and Macquarie Capital (USA) Inc. served as financial
advisors and Davis Wright Tremaine acted as legal advisor to the
Company in connection with the capital raise.  Sullivan & Cromwell
LLP acted as legal advisor to David Bolger, and Lightyear was
represented by Simpson Thacher & Bartlett LLP.  Leonard Green
and WL Ross were each represented by Skadden, Arps, Slate, Meagher
& Flom LLP.

                      About Cascade Bancorp

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

The Company's balance sheet at Sept. 30, 2010, showed
$1.83 billion in total assets, $1.82 billion in total liabilities,
and stockholder's equity of $8.85 million.

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


CASCADE BANCORP: Inks Indemnification Agreements With Directors
---------------------------------------------------------------
On January 28, 2011, Cascade Bancorp and its wholly owned
subsidiary, Bank of the Cascades, each entered into
Indemnification Agreements with each of its directors.

Under the Indemnification Agreement, if a director was or is made
a party, or is threatened to be made a party, to or is otherwise
involved in any proceeding, the Company or the Bank, as
applicable, will hold harmless and indemnify the director from and
against any and all losses, claims, damages, liabilities or
expenses to the full extent permitted by law.  "Proceeding" will
mean any threatened, pending or completed action, suit or
proceeding, whether civil, criminal, administrative or
investigative and whether formal or informal, in which the
director is, was or becomes involved by reason of the fact that
the director is or was a director, officer, employee or agent of
the Company or the Bank, as applicable, or that, being or having
been such a director, officer, employee or agent, the director is
or was serving at the Company's or the Bank's, as applicable,
request as a director, officer, partner, trustee, employee or
agent of another foreign or domestic corporation, partnership,
joint venture, trust, employee benefit plan or other enterprise,
including service with respect to an employee benefit plan,
whether the basis of such proceeding is alleged action by the
director in an official capacity as a director, officer, partner,
trustee, employee or agent or in any other capacity while serving
as a director, officer, partner, trustee, employee or agent;
provided, however, that, except with respect to an action to
enforce the provisions of the Indemnification Agreement,
"Proceeding" will not include any action, suit or proceeding
instituted by or at the direction of the director unless that
action, suit or proceeding is or was authorized by the Company's
Board of Directors.

                      About Cascade Bancorp

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

The Company's balance sheet at Sept. 30, 2010, showed
$1.83 billion in total assets, $1.82 billion in total liabilities,
and stockholder's equity of $8.85 million.

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


CASCADE BANCORP: Signs Registration Rights Pact With Investors
--------------------------------------------------------------
On January 28, 2011, Cascade Bancorp entered into a Registration
Rights Agreement with David F. Bolger, affiliates of Lightyear
Capital LLC, private equity funds affiliated with Leonard Green &
Partners, L.P., an affiliate of WL Ross & Co. LLC, Weichert
Enterprise LLC, Keefe Ventures Fund LP, Alden Global Value
Recovery Master Fund, L.P. and Cougar Trading, LLC, in connection
with the closing of the transactions contemplated by the
Securities Purchase Agreements, dated as of November 16, 2010,
among the Company and the Investors.  Under the Registration
Rights Agreement, the Company is required to use its reasonable
best efforts to promptly file with, and cause to be declared
effective by, the Securities and Exchange Commission, not later
than 30 days after the date thereof, a shelf registration
statement providing for the resale by the Investors of the shares
of common stock of the Company issued by the Company to the
Investors in connection with closing of the transactions under the
Securities Purchase Agreements.  The Registration Rights Agreement
also provides the Investors with customary piggyback registration
rights.

                      About Cascade Bancorp

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

The Company's balance sheet at Sept. 30, 2010, showed
$1.83 billion in total assets, $1.82 billion in total liabilities,
and stockholder's equity of $8.85 million.

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


CB HOLDING: Looks to Sell Bugaboo Creek Chain to Landry's
---------------------------------------------------------
Dow Jones' DBR Small Cap reports that Landry's Restaurants Inc. is
lining up to buy CB Holding Corp.'s Bugaboo Creek Steakhouse
business just a few months after securing permission to snatch
another restaurant chain out of bankruptcy.

                         About CB Holding

New York-based CB Holding Corp. had 20 Charlie Brown's Steakhouse,
12 Bugaboo Creek Steak House, and 7 The Office Beer Bar and Grill
restaurants when it filed for bankruptcy protection.  The Company
had closed 47 locations before filing for Chapter 11 protection.
Following a bankruptcy auction, it sold its The Office restaurant
chain to winning bidder Villa Enterprises Ltd. for $4.68 million.

CB Holding and its affiliates filed for Chapter 11 protection on
November 17, 2010 (Bankr. D. Del. Case No. 10-13683).  Christopher
M. Samis, Esq., and Mark D. Collins, Esq., at Richards, Layton &
Finger, P.A., represent the Debtors.  The Garden City Group, Inc.,
is the Debtors' notice, claims and solicitation agent.  Jeffrey N.
Pomerantz, Esq., Jason S. Pomerantz, Esq., and Bradford J.
Sandler, Esq., at Pachulski Stang Ziehl & Jones LLP, represent the
Official Committee of Unsecured Creditors.  CB Holding estimated
its assets at $100 million to $500 million and debts at
$50 million to $100 million.


CCM MERGER: Moody's Reviews 'Caa2' Corporate for Upgrade
--------------------------------------------------------
Moody's Investors Service placed CCM Merger, Inc.'s Caa2 Corporate
Family and Probability of Default ratings on review for possible
upgrade.  At the same time, Moody's assigned a B3 rating to the
company's proposed $20 million 5-year senior secured revolver and
$615 million 6-year senior secured term loan.  CCM's Caa3
$273 million senior unsecured notes due 2013 were affirmed.  The
ratings on the company's existing bank facilities of Caa1 were
also affirmed and will be withdrawn once the transaction closes
and the facilities terminated.

                        Ratings Rationale

Proceeds from the proposed $635 million bank facilities will be
used to refinance CCM's existing $70 million revolver that expires
in July 2011 and $539 million term loan B that is due in July
2012.  The proposed transaction is expected to close by the end of
February.

"The review for possible upgrade considers Moody's views that the
proposed refinancing will provide CCM with a more relaxed debt
maturity schedule and a meaningful amount of covenant relief,"
stated Keith Foley, a Senior Vice President at Moody's.  "This
will result in a one-notch improvement in CCM's Corporate Family
Rating to Caa1 once the proposed transaction closes."

The review for possible upgrade also reflects Moody's more
favorable view of the company's revenue, earnings, and free cash
flow prospects and the increased likelihood that CCM can achieve
and sustain debt/EBITDA at or near 6.5 times, the targeted
leverage required for a higher rating.  Debt/EBITDA for the fiscal
year ended December 31, 2010 was about 7.3 times.

The affirmation of CCM's $273 million senior unsecured notes due
August 2013 at Caa3 reflects the fact that even at a Caa1
Corporate Family Rating, the amount the amount of senior debt
ahead of the notes will remain substantial.

Ratings placed on review for possible upgrade:

* Corporate Family Rating at Caa2
* Probability of Default Rating at Caa2

Ratings assigned:

* $20 million 5-year senior secured revolver at B3 (LGD 3, 34%)
* $615 million 6-year senior secured term loan at B3 (LGD 3, 34%)

Ratings affirmed:

* $273 million senior unsecured notes due August 2013 at Caa3 (LGD
  5, 87%)

Ratings affirmed and to be withdrawn once the proposed transaction
closes:

* $70 million senior secured revolver expiring July 2011 at Caa1
  (LGD 3, 33%)

* $539 million senior secured term loan B due July 2012 at Caa1
  (LGD 3, 33%)

CCM Merger, Inc. indirectly owns and operates the MotorCity
Casino in Detroit, Michigan.  The company generates approximately
$460 million of annual net revenue.


CHAPMAN & CHAPMAN: Case Summary & 11 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Chapman & Chapman, LLC
        dba Powerhouse Gym
        5922 Ranchito Avenue
        Van Nuys, CA 91401

Bankruptcy Case No.: 11-11412

Chapter 11 Petition Date: February 2, 2011

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

Judge: Maureen Tighe

Debtor's Counsel: Michael Jay Berger, Esq.
                  LAW OFFICES OF MICHAEL JAY BERGER
                  9454 Wilshire Blvd 6th Flr
                  Beverly Hills, CA 90212-2929
                  Tel: (310) 271-6223
                  Fax: (310) 271-9805
                  E-mail: michael.berger@bankruptcypower.com

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

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

A list of the Company's 11 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb11-11412.pdf

The petition was signed by Jennifer Chapman, managing member.


CLASSIQUE MARBLE: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Classique Marble & Granite, Inc.
        1291 Madison Street NE
        Salem, OR 97301
        Tel: (503) 315-8906

Bankruptcy Case No.: 11-60435

Chapter 11 Petition Date: February 2, 2011

Court: U.S. Bankruptcy Court
       District of Oregon

Judge: Frank R. Alley, III

Debtor's Counsel: Keith Y. Boyd, Esq.
                  MUHLHEIM BOYD
                  88 E. Broadway
                  Eugene, OR 97401-2933
                  Tel: (541) 868-8005
                  E-mail: ecf@mb-lawoffice.com

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

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

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/orb11-60435.pdf

The petition was signed by Brent S. Anderson, president.


COLONIAL BANCGROUP: Amends Proposed Chapter 11 Plan
---------------------------------------------------
BankruptcyData.com reports that Colonial BancGroup filed with the
U.S. Bankruptcy Court a First Amended Chapter 11 Plan of
Reorganization.

According to BData, the Amended Plan provides for these terms:

  -- Holders of convenience claims will recover only 75%.

  -- Preferred stockholders who will be paid only after all
     allowed unsecured claims and all statutorily subordinated
     claims are paid in full will receive an amount that is equal
     to the largest of the allowed amount of any fixed liquidation
     preference or any fixed redemption price to which holders are
     entitled, or the value of the interests.

  -- Common stockholders will receive no distribution.

The Feb. 2, 2011 edition of the Troubled Company Reporter,
reported that Colonial Bancgroup received objections from the
Federal Deposit Insurance Corp. and other parties regarding its
proposed Chapter 11 plan.  Colonial Bangroup was scheduled to
present the Plan for confirmation at a hearing on February 3.

The FDIC has claimed that Colonial's bankruptcy-exit plan proposal
is "premature" considering the FDIC is appealing a case in which
it says the bank-holding company owes it more than $900 million.
The FDIC said the Colonial's liquidation plan doesn't bring up
that an FDIC win on appeal would likely render its plan
"unconfirmable."

                   About The Colonial BancGroup

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

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

In September 2009, an Official Committee of Unsecured Creditors
was formed consisting of three members, Fine Geddie & Associates,
The Bank of New York Trust Company, N.A., and U.S. Bank National
Association.  Burr & Forman LLP and Schulte Roth & Zabel LLP serve
as co-counsel for the Committee.

Colonial Brokerage, a wholly owned subsidiary of Colonial
BancGroup, filed for Chapter 7 protection with the U.S. Bankruptcy
Court in the Middle District of Alabama in June 2010.  Susan S.
DePaola serves as Chapter 7 trustee.


COMMUNITY FIRST BANK: Closed; Northbrook Bank Assumes All Deposits
------------------------------------------------------------------
Community First Bank - Chicago of Chicago, Ill., was closed on
Friday, February 4, 2011, by the Illinois Department of Financial
and Professional Regulation, which appointed the Federal Deposit
Insurance Corporation as receiver.  To protect the depositors, the
FDIC entered into a purchase and assumption agreement with
Northbrook Bank and Trust Company of Northbrook, Ill., to assume
all of the deposits of Community First Bank - Chicago.

The sole branch of Community First Bank - Chicago will reopen
during normal business hours as a branch of Northbrook Bank and
Trust Company.  Depositors of Community First Bank - Chicago will
automatically become depositors of Northbrook Bank and Trust
Company.  Deposits will continue to be insured by the FDIC, so
there is no need for customers to change their banking
relationship in order to retain their deposit insurance coverage
up to applicable limits.  Customers of Community First Bank -
Chicago should continue to use their existing branch until they
receive notice from Northbrook Bank and Trust Company that it has
completed systems changes to allow other Northbrook Bank and Trust
Company branches to process their accounts as well.

As of December 31, 2010, Community First Bank - Chicago had around
$51.1 million in total assets and $49.5 million in total deposits.
Northbrook Bank and Trust Company will pay the FDIC a premium of
0.50 percent to assume all of the deposits of Community First Bank
- Chicago.  In addition to assuming all of the deposits of the
failed bank, Northbrook Bank and Trust Company agreed to purchase
essentially all of the assets.

The FDIC and Northbrook Bank and Trust Company entered into a
loss-share transaction on $42.8 million of Community First Bank -
Chicago's assets.  Northbrook Bank and Trust Company will share in
the losses on the asset pools covered under the loss-share
agreement.  The loss-share transaction is projected to maximize
returns on the assets covered by keeping them in the private
sector.  The transaction also is expected to minimize disruptions
for loan customers.  For more information on loss share, please
visit:

http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about the transaction can call the
FDIC toll-free at 1-800-430-8098.  Interested parties also can
visit the FDIC's Web site at

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

The FDIC estimates that the cost to the Deposit Insurance Fund
(will be $11.7 million.  Compared to other alternatives,
Northbrook Bank and Trust Company's acquisition was the least
costly resolution for the FDIC's DIF.  Community First Bank -
Chicago is the fourteenth FDIC-insured institution to fail in the
nation this year, and the first in Illinois.  The last FDIC-
insured institution closed in the state was First Suburban
National Bank, Maywood, on October 22, 2010.


COMPOSITE TECHNOLOGY: Deregisters Unsold Shares in 2004 Offering
----------------------------------------------------------------
Composite Technology Corporation filed on February 1, 2011, a
Post-Effective Amendment No. 3 on Form S-1 to a February 2014
registration statement on Form SB-2 to deregister the shares of
common stock that have not been resold.  The offering included
16,304,270 shares of the Company's Common Stock plus an additional
11,757,464 shares of Common Stock that may have been issued upon
the exercise of 5-year warrants.

The registration statement was originally filed on February 13,
2004 (File No. 333-112798) to register the resale of 28,061,734
shares of common stock, $0.001 par value per share of Composite
Technology Corporation,

This offering has been terminated because the Company's obligation
to keep the registration statement current has expired.

In accordance with the undertaking made by the Company in the
registration statement to remove from registration by means of a
post-effective amendment any of the securities that remain unsold
at the termination of the offering, the Company hereby removes
from registration the securities that are registered but unsold
under the registration statement.

                     About Composite Technology

Irvine, Calif.-based Composite Technology Corporation (OTC BB:
CPTC) -- http://www.compositetechcorp.com/-- develops, produces,
and markets innovative energy efficient and renewable energy
products for the electrical utility industry.  The Company was
incorporated in Florida on February 26, 1980, as El Dorado Gold &
Exploration, Inc., and reincorporated in Nevada on June 27, 2001,
and renamed Composite Technology Corporation.

The Company's balance sheet at September 30, 2010, showed
$32.29 million in total assets, $57.32 million in total
liabilities, and a stockholders' deficit of $25.03 million.

                          *     *     *

As reported in the Troubled Company Reporter on December 20, 2010,
SingerLewak LLP, in Irvine, Calif., expressed substantial doubt
about Composite Technology's ability to continue as a going
concern, following the Company's results for the fiscal year ended
September 30, 2010.  The independent auditors noted that the
Company has suffered recurring losses from operations.


COMPOSITE TECHNOLOGY: Deregisters Unsold Shares in 2005 Offering
----------------------------------------------------------------
Composite Technology Corporation filed on February 1, 2011, a
Post-Effective Amendment No. 2 on Form S-1 to a January 2005
registration statement on Form SB-2 to deregister the securities
that have not been sold.

The registration statement was originally filed on January 25,
2005, (File No. 333-122280) to register the resale of 25,030,591
shares of common stock, $0.001 par value per share of Composite
Technology.  The offering included 18,065,053 shares of the
Company's common stock plus an additional 6,965,538 shares of
common stock that may have been issued upon the exercise of
warrants.

This offering has been terminated because the Company's obligation
to keep the registration statement current has expired.

In accordance with the undertaking made by the Company in the
registration statement to remove from registration by means of a
post-effective amendment any of the securities that remain unsold
at the termination of the offering, the Company hereby removes
from registration the securities that are registered but unsold
under the registration statement.

                    About Composite Technology

Irvine, Calif.-based Composite Technology Corporation (OTC BB:
CPTC) -- http://www.compositetechcorp.com/-- develops, produces,
and markets innovative energy efficient and renewable energy
products for the electrical utility industry.  The Company was
incorporated in Florida on February 26, 1980, as El Dorado Gold &
Exploration, Inc., and reincorporated in Nevada on June 27, 2001,
and renamed Composite Technology Corporation.

The Company's balance sheet at September 30, 2010, showed
$32.29 million in total assets, $57.32 million in total
liabilities, and a stockholders' deficit of $25.03 million.

                          *     *     *

As reported in the Troubled Company Reporter on December 20, 2010,
SingerLewak LLP, in Irvine, Calif., expressed substantial doubt
about Composite Technology's ability to continue as a going
concern, following the Company's results for the fiscal year ended
September 30, 2010.  The independent auditors noted that the
Company has suffered recurring losses from operations.


COMPOSITE TECHNOLOGY: Deregisters Unsold Shares in 2008 Offering
----------------------------------------------------------------
Composite Technology Corporation filed on February 1, 2011, a
Post-Effective Amendment No. 1 on Form S-1 to its June 2008 Form
S-3 Registration statement to deregister the securities that have
not been sold.

The registration statement was originally filed on June 6, 2008
(File No. 333-151514) to register the resale by certain
shareholders of 3,523,964 shares of common stock, $0.001 par value
per share, of Composite Technology Corporation along with common
stock, warrants for the purchase of common stock and units
consisting of common Stock and warrants which were offered by the
Company.

This offering has been terminated because the Company has received
confirmation from the selling shareholders that all of the Common
Stock that was registered has been sold or, if it has not been
sold, it is available to sell using Rule 144.  The Company sold no
Common Stock, warrants for the purchase of Common Stock or units
consisting of Common Stock and warrants in this offering.

In accordance with the undertaking made by the Company in the
registration statement to remove from registration by means of a
post-effective amendment any of the securities that remain unsold
at the termination of the offering, the Company hereby removes
from registration the securities that are registered but unsold
under the registration statement, including the common stock,
warrants for the purchase of common stock and units consisting of
common stock and warrants registered for direct sale by the
Company.

                     About Composite Technology

Irvine, Calif.-based Composite Technology Corporation (OTC BB:
CPTC) -- http://www.compositetechcorp.com/-- develops, produces,
and markets innovative energy efficient and renewable energy
products for the electrical utility industry.  The Company was
incorporated in Florida on February 26, 1980, as El Dorado Gold &
Exploration, Inc., and reincorporated in Nevada on June 27, 2001,
and renamed Composite Technology Corporation.

The Company's balance sheet at September 30, 2010, showed
$32.29 million in total assets, $57.32 million in total
liabilities, and a stockholders' deficit of $25.03 million.

                          *     *     *

As reported in the Troubled Company Reporter on December 20, 2010,
SingerLewak LLP, in Irvine, Calif., expressed substantial doubt
about Composite Technology's ability to continue as a going
concern, following the Company's results for the fiscal year ended
September 30, 2010.  The independent auditors noted that the
Company has suffered recurring losses from operations.


CROSSROADS ELECTRIC: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: Crossroads Electric Corporation
        1675 West Yale Avenue, Unit D
        Englewood, CO 80110

Bankruptcy Case No.: 11-12092

Chapter 11 Petition Date: February 4, 2011

Court: U.S. Bankruptcy Court
       District of Colorado (Denver)

Judge: Howard R. Tallman

Debtor's Counsel: Lee M. Kutner, Esq.
                  KUTNER MILLER BRINEN, P.C.
                  303 E. 17th Avenue, Suite 500
                  Denver, CO 80203
                  Tel: (303) 832-2400
                  E-mail: lmk@kutnerlaw.com

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

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

The Company did not file a list of creditors together with its
petition.

The petition was signed by Nicholas Oltmans, treasurer.


CTI GLOBAL: Agrees to File MORs to Avoid Case Dismissal
-------------------------------------------------------
Bankruptcy Judge Thomas J. Catliota signed a Stipulation and
Consent Order resolving the United States Trustee's motion to
convert case, or in the alternative, to dismiss CTI Global
Solutions, Inc.'s Chapter 11 case.

On January 4, 2011, the U.S. Trustee filed a Motion to Convert
Case to Chapter 7 or, in the Alternative, to Dismiss Case because
the Debtor has failed to file monthly operating reports, and has
failed to pay quarterly fees.  Pursuant to the Stipulation, the
Debtor agrees to timely file by the 20th of each month its monthly
operating reports as required by the United States Trustee
District of Maryland Chapter 11 Guidelines that were issued to the
Debtor upon the bankruptcy filing.  In the event the Debtor fails
to file its monthly operating reports, the U.S. Trustee may file
an Affidavit of Default with the Court, and the case will be
dismissed forthwith.

The Debtor will make timely all required postpetition quarterly
fee payments to the Office of the United States Trustee as
required by the Guidelines.  In the event the Debtor fails to make
all required postpetition quarterly fee payments, the U.S. Trustee
may file an Affidavit of Default with the Court, and the case will
be dismissed forthwith.  A copy of the signed stipulation is
available at http://is.gd/X4j1HYfrom Leagle.com.

CTI Global Solutions is a business support company located in
Upper Marlboro, Maryland.  CTI Global Solutions sought Chapter 11
protection (Bankr. D. Md. Case No. 09-33421) on Dec. 1, 2009, and
is represented by:

         Lawrence P. Block, Esq.
         STINSON MORRISON HECKER
         1150 18th St., N.W., Suite 800
         Washington, DC 20036
         Telephone: 202-785-9100

Chevy Chase Bank is the Debtor's largest creditor, and is
represented by:

         David I. Swan, Esq.
         Kenneth M. Misken, Esq.
         James E. Van Horn, Esq.
         MCGUIREWOODS LLP
         1750 Tysons Blvd., Suite 1800
         McLean, VA 22102
         Telephone (703) 712-5365

CTI Global estimated assets of less than $50,000 and debts between
$1 million and $10 million in its petition.


CUSTOM POULTRY: Case Converted to Chapter 11
--------------------------------------------
Bob Meyer at Brownfield AG News reports that Custom Poultry
Processing was granted a request to change its bankruptcy status
from Chapter 7 to Chapter 11 giving the company time to
reorganize.  Judge Thad Collins also granted a request to allow
the company to sell its frozen chicken inventory free-and-clear of
liens and to use the cash along with any payments on accounts
receivable.  The Globe Gazette reports the cash can be used "to
pay obligations arising in the ordinary course of business."

According to Brownfield AG, Custom Poultry owns a shuttered
organic chicken processing plant in Charles City, Iowa.  Custom
Poultry Processing started processing organic and antibiotic-free
chickens in November but then ran into financial difficulties.
The Company filed for Chapter 7 bankruptcy protection on January
20, operations were halted on January 21 and employees were sent
home.

According to the report, co-owner Dave Bushman says the goal is to
reopen the plant within 14 weeks.  The Company is to present a
plan for reorganization to the court; the next hearing is
scheduled for February 18.


CYPRESS MANUFACTURING: Case Summary & Creditors List
----------------------------------------------------
Debtor: Cypress Manufacturing, LLC
          dba HiTech Plastics and Molds
              Hi Tech Plastics
              Hi Tech Mold
        21743 Marilla Street
        Chatsworth, CA 91311

Bankruptcy Case No.: 11-11520

Chapter 11 Petition Date: February 4, 2011

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

Judge: Victoria S. Kaufman

Debtor's Counsel: Douglas M. Neistat, Esq.
                  GREENBERG & BASS
                  16000 Ventura Boulevard, #1000
                  Encino, CA 91436
                  Tel: (818) 382-6200
                  Fax: (818) 986-6534
                  E-mail: twilliams@greenbass.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/cacb11-11520.pdf

The petition was signed by Robert Loranger, president.


DENBURY RESOURCES: Moody's Gives Stable Outlook; Keeps Ba3 Rating
-----------------------------------------------------------------
Moody's Investors Service changed Denbury Resources, Inc.'s
outlook to stable from negative.  Moody's affirmed Denbury's Ba3
Corporate Family Rating, its Ba3 Probability of Default Rating,
and the B1 rating on the existing senior subordinated notes
(although the LGD point estimate is changing to 70% from 73%).
Moody's also assigned a B1 (LGD 5, 70%) rating to the company's
proposed $350 million senior subordinated notes offering.

Proceeds from the proposed offering along with cash on hand will
be used to fund the tender of the company's $225 million senior
subordinated notes due 2013 and the $300 million senior
subordinated notes due 2015.

"The move to a stable outlook reflects Denbury's progress in
reducing debt and leverage on its proven developed reserves, which
had been elevated after completing its acquisition of Encore in
2010," said Ken Austin, Moody's Vice President.  "Although
leverage is still a bit high for the rating, the company has made
meaningful strides in reducing its debt over the past 12 months
and Moody's anticipate this trend will continue through 2011."

                        Ratings Rationale

Due to asset sales throughout 2010 and pro forma for the recent
sale of its interest in Encore Energy Partners, Denbury reduced
its balance sheet debt by approximately $1.3 billion.  Along with
an additional $175 million of debt repayment concurrent with the
new notes offering, leverage on its PD reserves is expected to be
just over $11.00/boe.  While this is still higher than the
$10.00/boe target Moody's set for a stable outlook in 2010, this
leverage is lower than the approximate $13.00/boe the company had
at the time it closed the acquisition of Encore Acquisition Corp.
in 2010.  Further, Moody's anticipates this leverage will continue
to improve and be at or below the $10.00/boe level by year-end
2011.

Leverage on pro forma production is approximately $39,000/boe,
which is higher than the average for the Ba-rated peer group and
for the stable outlook.  However, Moody's anticipates that Denbury
will reduce this leverage by year-end to around the $35,000/boe
target established for a stable outlook.  This improvement will be
driven by a more development focused capital program that will
translate into continued positive production trends in 2011 and
will be funded within cash and cash flow for the year, resulting
in a flat to slightly lower debt balance.

Denbury's scale, positive organic production trends, and focus on
high margin oil production support the Ba3 CFR.  Despite the
higher unit costs, significant upfront capital investment for its
enhanced oil recovery operations, and the long lead-time for
production response from its EOR properties, its long-lived
production profile and the margins associated with oil act as
counter-balancing items.

An upgrade would be considered if Denbury reduces its leverage on
PD reserves to less than $8.00/boe on a sustainable basis and
debt/average daily production is less than $30,000/boe while
maintaining its positive production trends and good margins.

Conversely, the ratings could be pressured in Denbury's leverage
on PD reserves trends back toward $13.00/boe and debt/average
daily trends towards $40,000/boe.

The last rating action for Denbury was on February 2, 2010, when
Moody's confirmed the ratings with a negative outlook.

Denbury Resources, Inc., is headquartered in Plano, Texas.


DENBURY RESOURCES: S&P Assigns 'BB-' Rating to $350 Mil. Notes
--------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB-' issue
rating to Denbury Resources Inc.'s proposed $350 million senior
subordinated note offering. S&P has assigned a '5' recovery rating
to this debt, indicating S&P's expectation of modest (10% to 30%)
recovery in the event of payment default. S&P's 'BB' corporate
credit rating and stable outlook on the company remain unchanged.

Denbury plans to use the proceeds, along with about $175 million
of cash on its balance sheet, to tender for $225 million of senior
subordinated notes maturing in 2013 and $300 million of senior
subordinated notes maturing in 2015. As of Sept. 30, 2010, Denbury
had $3 billion of Standard & Poor's adjusted debt.

Standard & Poor's Ratings Services ratings on Denbury, an oil and
gas exploration and production company, reflect the capital-
intensive, high-cost nature of its tertiary oil operations, its
somewhat aggressive leverage, and negative free cash flow
expectations for 2011.  Ratings also reflect its focus on oil, its
strong hedge position, and its lower risk exploitation strategy.
S&P characterizes the business profile to be fair and the
financial risk profile to be aggressive.

                           Ratings List

          Corporate credit rating           BB/Stable/--

                            New Rating

               $350 mil sr sub nts               BB-
                 Recovery rating                 5


DESERT VISTA: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Desert Vista, Inc.
        3338 W. Vernon Ave.
        Phoenix, AZ 85009

Bankruptcy Case No.: 11-02772

Chapter 11 Petition Date: February 2, 2011

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

Judge: Sarah Sharer Curley

Debtor's Counsel: Cody J. Jess, Esq
                  SCHIAN WALKER, PLC
                  3550 N. Central Ave., #1700
                  Phoenix, AZ 85012-2115
                  Tel: (602) 277-1501
                  Fax: (602) 297-9633
                  E-mail: ecfdocket@swazlaw.com

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

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

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

The petition was signed by Chris Thornton, president.


DIABETES AMERICA: U.S. Trustee Names Three to Creditors Panel
-------------------------------------------------------------
Judy A. Robbins, the U.S. Trustee for Region 7, appoints three
members to the Official Committee of Unsecured Creditors in
Diabetes America, Inc.'s Chapter 11 case.

The Committee members include:

1) Physician Sales & Service
   15550 Vickery Drive Suite 200
   Houston, TX 77032
   Attn: Julia Moore
   Phone: (612) 486-5871
   Telefax: (612) 486-5875
   E-mail: jmoore@shreflaw.com

2) Stradling Yocca Carlson & Rauth
   660 Newport Center drive, 16th Floor
   Newport Beach, CA 92660
   Attn: Bruce Feuchter
   Phone: (949) 725-4123
   Telefax: (949) 823-5123
   E-mail: feuchter@sycr.com

3) RiverStone Wealth Management
   7801 Capital of Texas Hwy, Suite 310
   Austin, TX 78731
   Attn: Paul Gautier
   Phone: (512) 275-0826
   Telefax: (512) 476-5754 Telefax
   E-mail: pgautier@rverstonewealth.com

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 as of
the Petition Date.


EAGLE INDUSTRIES: Committee Can Hire Alber Crafton as Counsel
-------------------------------------------------------------
The Hon. Joan A Lloyd of the U.S. Bankruptcy Court for the Western
District of Kentucky authorized the Official Committee of
Unsecured Creditors in the Chapter 11 case of Eagle Industries
LLC, to employ Peter M. Gannott and the law firm of Alber Crafton,
PSC as its counsel.

To the best of the Committee's knowledge, the firm is a
?disinterested person? as that term is defined in Section 101(14)
of the Bankruptcy Code.

Mr. Gannott can be reached at:

     ALBER CRAFTON, PSC
     Hurstbourne Place, Suite 1300
     9300 Shelbyville Road
     Louisville, KY 40222
     Tel: (502) 815-5000
     E-mail: pgannott@AlbertCrafton.com

                          The Committee

The members of the Creditors Committee are:

    1. Keith Arthur Waller, president
       Key Development Group, LLC

    2. David Kebrdle, receiver
       Prestige Wood Products

    3. Robert G. Kucker, Jr., president
       Liberty Abrasives Inc

    4. Brent Cowan, controller
       Packsize, LLC

    5. Douglas Lewis, owner
       D-G Lumber

                      About Eagle Industries

Bowling Green, Kentucky-based Eagle Industries LLC filed for
Chapter 11 bankruptcy protection on October 27, 2010 (Bankr. W.D.
Ky. Case No. 10-11636).  David M. Cantor, Esq., at Seiller
Waterman LLC, represents the Debtor.  The Debtor estimated assets
and debts at $10 million to $50 million.


EDIETS.COM(R): Fails NASDAQ's $35-Mil. Market Value Requirement
---------------------------------------------------------------
eDiets.com, Inc. received notice from The NASDAQ Stock market that
it does not comply with the minimum $35 million market value of
listed securities requirement for continued listing on The NASDAQ
Capital Market set forth in Listing Rule 5550(b)(2).  In
accordance with the rules, the Company has 180 calendar days, or
until August 1, 2011, to regain compliance.  The Company can
regain compliance if, at any time during the compliance period,
the market value of its listed securities closes at $35 million or
more for a minimum of ten consecutive business days.  This notice
does not impact the Company's listing on NASDAQ at this time and
the Company will continue to trade under the symbol "DIET."

If the Company does not demonstrate compliance by August 1, 2011,
NASDAQ will notify the Company that the Company's securities are
subject to delisting.  At that time, the Company may appeal the
delisting determination to a NASDAQ Listing Qualifications Panel
("Panel"), and the Company would remain listed pending the Panel's
decision.

As previously reported, on December 30, 2010, NASDAQ notified the
Company that it did not comply with the minimum $1.00 bid price
requirement set forth in Listing Rule 5450(a)(1) and that the
Company's common stock was subject to delisting unless it
requested a hearing before a Panel.  The Company timely requested
a hearing, which automatically stayed the delisting until the
Panel issues its decision following a hearing.  The Company
recently appeared before a Panel and presented its plan to regain
compliance with the minimum bid price requirement and all other
applicable requirements for continued listing on The NASDAQ
Capital Market.

The Company anticipates receipt of the Panel's decision within the
next 30 to 45 days. However, there can be no assurance that the
Panel will grant the Company's request for continued listing on
NASDAQ or, in the event the Panel grants the Company additional
time within which to regain compliance with the bid price
requirement, that the Company will be able to do so within the
time period afforded by the Panel.

                            About eDiets

eDiets.com, Inc. is a leading provider of personalized nutrition,
fitness and weight-loss programs. eDiets currently features its
award-winning, fresh-prepared diet meal delivery service as one of
the more than 20 popular diet plans sold directly to members on
its flagship site, http://www.eDiets.com.


ENERGY PARTNERS: S&P Assigns 'B' Corporate Credit Rating
--------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'B'
corporate credit rating to New Orleans-based Energy Partners Ltd.
The outlook is stable.

At the same time, Standard & Poor's assigned a 'B-' issue-level
rating to the company's proposed $210 million senior unsecured
notes due 2018. The recovery rating on this debt is '5',
indicating expectations for modest (10% to 30%) recovery in the
event of a payment default.  EPL plans to use the notes to fund
the pending $200 million acquisition of offshore Gulf of Mexico
properties from Anglo-Suisse Offshore Partners LLC.

"The ratings on Energy Partners Ltd. reflect the company's
relatively small reserve base, high concentration in the Gulf of
Mexico shelf, unproven management team to find and develop
reserves, and likelihood of future acquisitions over the next few
years," said Standard & Poor's credit analyst Paul B. Harvey.  "In
addition, the ratings are based on EPL's position as an E&P
company operating in the Gulf of Mexico and in a highly cyclical,
capital-intensive, and competitive industry."  Ratings also
reflect the company's high proportion of oil production (60%),
relatively low leverage, and good near-term liquidity.  However,
there is a high probability that the company will complete one or
more acquisitions over the next few years to achieve growth, which
could alter its leverage/liquidity profile.

The stable outlook reflects the company's relatively low debt
leverage and adequate liquidity, offset by the risks of operating
solely in the Gulf of Mexico shelf.  Since emerging from
bankruptcy in September 2009, the company has been working to
reposition itself as an oil-focused, acquire and exploit Gulf
operator, although S&P has yet to see the benefits from this
endeavor.  Thus, S&P would wait to see consistent production and
reserves growth, and lower F&D costs, before contemplating an
upgrade.  On the other hand, S&P would consider lowering the
ratings if the company begins to materially outspend cash flow and
leverages up beyond current levels to make acquisitions,
particularly as its new strategy relies on acquisitions to deliver
growth.


ESSEX OIL: Randsburg Int'l Wants Receiver to Take Over Assets
-------------------------------------------------------------
Essex Oil Ltd. disclosed that Randsburg International Gold Corp.
had initiated steps to appoint Wm. Andrew Campbell as a privately-
appointed receiver over the assets of Essex pursuant to a general
security agreement granted to Randsburg.  Essex had received a
letter from Mr. Campbell advising that he had been appointed as
receiver over the assets of Essex.  However, no evidence of that
appointment signed by Randsburg was received from Randsburg or
from Mr. Campbell.

Randsburg is a shareholder of Essex.  Michael Opara, who is the
President, Chief Executive Officer and a director of Randsburg, is
also the President and a director of Essex.

Only on January 28, 2011, did Essex receive a copy of the letter
wherein Randsburg purported to appoint Mr. Campbell as receiver
over the assets of Essex.  Upon review of the letter, Essex has
advised Randsburg that their attempted appointment of Mr. Campbell
as receiver over the assets of Essex contravenes section 243(4) of
the Bankruptcy and Insolvency Act (Canada) which provides that
only a licensed trustee may be appointed as a receiver pursuant to
the terms of a security agreement.

Essex reviewed the list of licensed trustees maintained by the
Office of the Superintendent of Bankruptcy (Canada) and determined
that Mr. Campbell is not a licensed trustee, and therefore, is not
authorized to act as a receiver.  Accordingly, it is the position
of Essex that the appointment of Mr. Campbell as receiver over the
assets of Essex is illegal, invalid and of no effect.

As a result, Essex has demanded that Randsburg withdraw its
appointment of Mr. Campbell as receiver over the assets of Essex,
Mr. Campbell withdraw his efforts to take possession of the assets
of Essex and Mr. Campbell cease all efforts to realize on the
assets of Essex. In the event that Randsburg and Mr. Campbell do
not comply with Essex's demands, Essex will consider all of its
rights and remedies as against Randsburg, Michael Opara and Mr.
Campbell.

Randsburg is a shareholder of Essex.  Michael Opara, who is the
President, Chief Executive Officer and a director of Randsburg, is
also the President and a director of Essex.


EVERWIN ENTERPRISES: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Everwin Enterprises, INC.
        18 Leah Way
        Parsippany, NJ 07054

Bankruptcy Case No.: 11-13292

Chapter 11 Petition Date: February 4, 2011

Court: U.S. Bankruptcy Court
       District of New Jersey (Newark)

Judge: Morris Stern

Debtor's Counsel: Feng Li, Esq.
                  LAW OFFICES OF FENG LI
                  1719 Route 10 East, Suite 318
                  Parsippany, NJ 07054
                  Tel: (973) 590-5110
                  E-mail: feng.li@nac.net

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/njb11-13292.pdf

The petition was signed by Shun Kuan Chung, president.


FAIRPOINT COMMUNICATIONS: Moody's Gives 'B2' CFR After Emergence
----------------------------------------------------------------
Moody's Investors Service has assigned ratings to FairPoint
Communications, Inc., including a B2 corporate family rating, a B3
probability of default rating and a SGL-2 liquidity rating.  In
addition, Moody's assigned a Ba2 (LGD1-0%) rating to the company's
$75 million senior secured revolver and a B2 (LGD3-35%) rating to
the company's $1 billion senior secured term loan.  The difference
in the rating between the two senior secured instruments reflects
the first out waterfall position of the revolver.  The senior
secured credit facilities constitute the permanent debt financing
for FairPoint, as it emerged from Chapter 11 bankruptcy protection
on January 31, 2011.  The bankruptcy filing was precipitated by
the company's problems in transitioning the order flow and billing
systems of Verizon Communications' Maine, New Hampshire and
Vermont (VZ-NE) wireline operations, which FairPoint acquired in
March 2008.

As part of the rating action, Moody's also assigned a SGL-2
liquidity assessment to the company indicating good liquidity.

This summarizes the rating actions taken by Moody's:

Ratings/assessments assigned:

FairPoint Communications, Inc.

* Corporate family rating -- B2
* Probability-of-default rating -- B3
* Senior secured term loan -- B2 (LGD3-35%)
* Senior secured revolver -- Ba2 (LGD1-0%)
* Speculative grade liquidity rating -- SGL-2

The rating outlook is stable.

FairPoint's B2 CFR largely reflects the company's improved debt
capital structure following the bankruptcy restructuring, which
Moody's estimates to be about 4.8x adjusted debt/EBITDA, as the
Chapter 11 filing eliminated about 60% of FairPoint's pre-
bankruptcy liabilities.  The rating also benefits from the cash
flow contributions from the company's telecom markets outside the
VZ-NE territories, which have not suffered from the same
competitive and systems issues.  The rating is somewhat
prospective in nature, however, as it incorporates Moody's
expectations that the company's operations have sufficiently
stabilized to stem further weakening of its financial condition.
The rating is also tempered by Moody's concerns about the long
term sustainability of the company's competitive position in the
VZ-NE territories and the uncertainty that revenues from
FairPoint's growth services, which include upgraded high speed
internet lines and enhanced communications services to businesses,
will rise faster than the revenue declines from the company's
still-significant legacy voice business.  According to Moody's
Vice President - Senior Credit Officer, Gerald Granovsky, "Despite
spending significant capital to expand the reach of its high speed
network across the three northern New England states, significant
execution risks remain, including the challenge to win back
customers who have migrated to competitive providers." In
addition, Moody's notes that the operating systems failures that
led to the bankruptcy filing may need further adjustments as the
company tries to resume revenue growth.  Moreover, as FairPoint
generates some of the lowest EBITDA margins among the incumbent
wireline carriers that Moody's rates, management's goal of moving
to a more competitive cost structure may limit the company's
ability to grow if it needs to add capacity to its network or
devote greater spending to marketing and promotional activity.

FairPoint's SGL-2 short-term liquidity rating reflects the
company's good liquidity in the twelve month period to
December 31, 2011.  FairPoint's liquidity primarily consists
of modest amounts of cash-on-hand and the $75 million revolving
credit facility, which is expected to remain undrawn during 2011,
although the revolver availability will be reduced by $18 million
of letter of credit funding.  Moody's projects the company will
have modest cash balances in 2011, which could be used to fund
extraordinary capital expenditures or added reorganizations costs.
Moody's notes that the ongoing restructuring costs and the
mandated capital expenditures needed to upgrade the northern New
England lines for higher speed internet access may limit free cash
flow growth over the next two years.

Fairpoint, headquartered in Charlotte, NC, is a wireline
telecommunications company in the US, serving about 1.5 million
access lines in primarily rural areas and small- and medium-sized
cities across 18 states.

The last rating action for FairPoint Communications was on
October 26, 2009, when the rating agency downgraded the company's
ratings to D following its bankruptcy filing.


FAIRVIEW MINISTRIES: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Fairview Ministries, Inc.
        210 Village Drive
        Downers Grove, IL 60516

Bankruptcy Case No.: 11-04386

Chapter 11 Petition Date: February 4, 2011

Court: U.S. Bankruptcy Court
       Northern District of Illinois (Chicago)

Judge: Susan Pierson Sonderby

Debtor's Counsel: George R. Mesires, Esq.
                  Patrick F. Ross, Esq.
                  UNGARETTI & HARRIS LLP
                  Three First National Plaza
                  70 W. Madison Street, Suite 3500
                  Chicago, IL 60602
                  Tel: (312) 977-4151
                       (312) 977-4126
                  Fax: (312) 977-4405
                  E-mail: grmesires@uhlaw.com
                          pfross@uhlaw.com

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

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

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/ilnb11-04386.pdf

The petition was signed by James E. Nugent, chief implementation
officer.

Debtor-affiliates filing separate Chapter 11 petitions:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Fairview Baptist Home                 11-04395            01/21/11
Fairview Residence of Rockford        11-80459            01/21/11
Fairview Village                      11-04392            01/21/11
VibrantLiving Communities & Services  11-04403            01/21/11


FIRST UNITED ETHANOL: To Continue Managing Bankrupt Subsidiary
--------------------------------------------------------------
First United Ethanol, LLC, parent of Southwest Georgia Ethanol,
LLC, in a regulatory filing where it announced SWGE's bankruptcy
filing, said that a group of SWGE's secured bank lenders have
agreed to support SWGE's on-going restructuring efforts with a
$10 million debtor-in-possession financing facility.  The
administrative agent for the secured bank lenders is WestLB AG,
New York Branch.  SWGE expects to conduct normal business
operations while it reorganizes.

The Company says SWGE's filing results from liquidity constraints
arising from operational problems that, while largely resolved,
impacted financial performance, the impending maturity of its
working capital facility, and from a lack of sufficient working
capital due to increasing input costs and decreasing prices as a
function of the economy.

First United Ethanol has not filed for Chapter 11 bankruptcy
protection.  The Company will continue to manage its subsidiary,
SWGE, as SWGE operates as a debtor-in-possession.

"We are using this Chapter 11 filing as a tool to reorganize and
protect the value of our business for the long-term," said Murray
Campbell, Chief Executive Officer of the Company.  "We appreciate
the ongoing support we are receiving from our lender group and
from our many trade partners with whom we will continue to do
business," he concluded.

SWGE has engaged Morgan Keegan & Company, Inc., as its investment
banker and financial advisor and McKenna, Long & Aldridge LLP as
Debtor's counsel to assist with the reorganization.

                About Southwest Georgia Ethanol

Southwest Georgia Ethanol LLC, a unit of First United Ethanol Co.,
sought bankruptcy protection (Bankr. M.D. Ga. 11-10145) in Albany,
Georgia, on February 1, 2011.

The Debtor owns and operates an ethanol production facility
located on 267 acres in Mitchell County, Georgia, producing
100 million gallons of ethanol annually.  Ethanol production
operations commenced in October 2008.

John Michael Levengood, Esq., at McKenna Long & Aldridge LLP, in
Atlanta, Georgia, serves as counsel to the Debtor.  Morgan Keegan
& Company, Inc., is the investment banker and financial advisor.
Epiq Bankruptcy Solutions, LLC, is the claims and notice agent.

The Debtor's balance sheet showed $164.7 million in assets and
$134.1 million in debt as of Dec. 31, 2010.

                    About First United Ethanol

Pelham, Ga.-based First United Ethanol, LLC
-- http://www.firstunitedethanol.com/ -- was formed as a Georgia
limited liability company on March 9, 2005, for the purpose of
raising capital to develop, construct, own and operate a 100
million gallon per year ethanol plant near Camilla, Georgia.
Plant operations and the production of ethanol and distillers
grains commenced on October 10, 2008.

The Company's balance sheet at September 30, 2010, showed
$170.7 million in total assets, $138.2 million in total
liabilities, and members' equity of $32.5 million.

                          *     *     *

As reported in the Troubled Company Reporter on January 4, 2011,
McGladrey & Pullen, LLP, in Des Moines, Iowa, expressed
substantial doubt about First United Ethanol's ability to continue
as a going concern, following its results for the fiscal year
ended September 30, 2010.  The independent auditors noted that for
the year ending September 30, 2010, the Company has generated
losses of roughly $2,175,000 and has experienced liquidity
restraints due to limits on its working capital line of credit.


FLEX-SPACE PROPERTY: Case Summary & 4 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Flex-Space Property Management, Inc.
          aka Flexible-Space Property Management, Inc.
          dba Castle Hayne Mini Storage
        5328 Bent Leaf Drive
        Raleigh, NC 27606

Bankruptcy Case No.: 11-00771

Chapter 11 Petition Date: February 2, 2011

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

Judge: Stephani W. Humrickhouse

Debtor's Counsel: Douglas Q. Wickham, Esq.
                  HATCH, LITTLE & BUNN, LLP
                  P.O. Box 527
                  Raleigh, NC 27602
                  Tel: (919) 856-3940
                  Fax: (919) 856-3950
                  E-mail: dqwickham@hatchlittlebunn.com

Scheduled Assets: $2,085,000

Scheduled Debts: $1,347,001

A list of the Company's four largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nceb11-00771.pdf

The petition was signed by Kevin Walsh, president.


FORCE-MEADOWS: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Force-Meadows Court LLC
        aka Force-Meadow Court LLC
        20026 Pacific Coast Highway
        Malibu, CA 90265

Bankruptcy Case No.: 11-11395

Chapter 11 Petition Date: February 2, 2011

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

Judge: Victoria S. Kaufman

Debtor's Counsel: James R. Selth, Esq.
                  Weintraub & Selth, APC
                  11766 Wilshire Blvd, Ste 1170
                  Los Angeles, CA 90025
                  Tel: (310) 207-1494
                  Fax: (310) 207-0660
                  E-mail: jim@wsrlaw.net

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

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

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

The petition was signed by Scott G. Erickson, managing member.


FUNDAMENTAL PROVISIONS: MC Bank Cries Default Under Plan
--------------------------------------------------------
MC Bank and Trust Company asks the U.S. Bankruptcy Court for the
Middle District of Louisiana to enter an order affirming that
Fundamental Provisions, L.L.C., is in default under the plan of
reorganization and that any injunction that may or does prohibit
MC Bank from foreclosing its mortgage or otherwise executing on
its security devices, loan agreements, guarantees, or loan papers
is modified to allow MC Bank to proceed under state law to
foreclose or protect its interests as they appear.

In the alternative, MC Bank wants the Court to convert the
Debtor's Chapter 11 case to a case under Chapter 7.

The Debtor's Plan was confirmed on August 25, 2010.  Under the
Plan, MC Bank and other secured property lenders were to receive a
payment by December 31, 2010.  According to MC Bank, it has not
been paid as provided by the Plan.

MC Bank is represented by H. Kent Aguillard --
kaguillard@yhalaw.com -- who has an office in Eunice, Louisiana.

Gonzales, Louisiana-based Fundamental Provisions, LLC -- fdba
Pollo, Inc., et al. -- filed for Chapter 11 bankruptcy protection
on December 8, 2009 (Bankr. M.D. La. Case No. 09-11897).
Fundamental Provision's affiliates -- Pollo, Inc., and Thaxco,
Inc. -- also filed Chapter 11 bankruptcy petitions.  Barry W.
Miller, Esq., at Heller, Draper, Hayden, Patrick & Horn,
represents the Debtor.  Fundamental Provisions estimated assets at
and debts at $10 million to $50 million.


GREAT ATLANTIC & PACIFIC: Elects Greg Rayburn to Board
------------------------------------------------------
The Great Atlantic & Pacific Tea Company, Inc. disclosed the
election of Greg Rayburn to the Company's Board of Directors.  He
will replace Dr. Jens-Jurgen Bockel, who has resigned from the
Board.

Mr. Rayburn has more than 28 years of experience leading companies
and maximizing enterprise value through strategic and competitive
challenges in a wide range of industries, including retail,
freight, manufacturing, telecommunications, gaming, hospitality,
home building and health care.

A&P Chairman of the Board Christian Haub said, "We are pleased to
welcome Greg to A&P's Board. His experience in leading companies
through critical transitions will be invaluable to the Board.  I
am looking forward to working with Greg as we continue to execute
on A&P's comprehensive turnaround under Sam Martin's leadership."

Mr. Haub continued, "I also want to thank Jens for his
contributions to the Board over nearly seven years.  We wish him
well in his future endeavors."

Most recently, Mr. Rayburn served as the CEO of the New York City
Off Track Betting Corporation, where, at the request of the
Governor of New York, he developed a reorganization plan and led
negotiations with State race tracks and unions.  He has also
served as CEO of Magna Entertainment Corporation, Syntax-Brillian
Corporation, International Outsourcing Services, Muzak Holdings
LLC and Sunterra Corporation.  Earlier in his career, he was Chief
Restructuring Officer of WorldCom -- then the largest U.S.
bankruptcy filing to-date.

Mr. Rayburn holds an M.A. in accounting and a B.S. in business and
marketing from the University of Alabama.  He is a member of the
American Institute of Certified Public Accountants and serves as
an expert witness in federal and state courts on issues including
business viability, valuation, strategic plan assessment, fraud,
damages and bankruptcy reorganizations.

                            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.  Dennis F. Dunne, Esq., Matthew S. Barr, Esq., and
Abhilash M. Raval, Esq., at Milbank, Tweed, Hadley & McCloy LLP,
represent the Official Committee of Unsecured Creditors.

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).


HOLLYWOOD RESTAURANT: Owner Aims to Restructure Garrason's Tavern
-----------------------------------------------------------------
Sue Gleiter at The Patriot-News reports that Garrason's Tavern in
Harrisburg continues to serve dinner and cater to the night bar
crowd.  Garrason's stopped serving lunch in early January.

According to the report, owner Rob Fogelman said he sent the
restaurant to chapter 11 to restructure the restaurant.   "We had
some financial difficulties.  It was a rough summer.  We just want
to make sure we have a plan to pay back our creditors," The
Patriot-News quotes owner Rob Fogelman as saying.

Harrisburg, Pennsylvania-based Hollywood Restaurant Group, LLC,
filed for Chapter 11 protection (Bankr. M.D. Pa. Case No. 11-
00407) on January 21, 2011.  It estimated less than $50,000 in
assets and debts in its Chapter 11 petition.  Henry W Van Eck,
Esq., at Van Eck and Van Eck PC, in Harrisburg, represents the
Debtor.  The petition was signed by Mr. Fogelman, as manager.
See http://bankrupt.com/misc/pamb11-00407.pdf


GUIDED THERAPEUTICS: Awarded ISO Certification for LightTouch
-------------------------------------------------------------
Guided Therapeutics, Inc. announced that it was awarded ISO
13485:2003 registration certification.

"Receiving this certification is a very important milestone for
the company and its shareholders and paves the way for the future
sale of our products in the European Union and other countries
that recognize the importance of the CE mark," said Mark L.
Faupel, CEO and president of Guided Therapeutics, Inc.  "We
believe that the LightTouch has significant market potential
outside the U.S. and this certification demonstrates that the
company has created a high-quality and world-class organization
for the design, manufacture and distribution of our products
internationally.  I congratulate all the members of the Guided
Therapeutics team that put so much effort into this successful
process."

The certificate of registration was issued by Intertek Testing
Services NA Ltd.  Intertek is a leading provider of quality and
safety solutions, serving a wide range of industries around the
world.  For more information, visit www.intertek.com.

The International Organization for Standardization (ISO) is a non-
governmental organization.  Established in 1947, ISO currently
works with the national standards institutes of over 140 countries
to establish international standards.  These standards are
established to meet the needs of business and society.  For more
information, visit http://www.iso.org.

To view the certificate, visit
http://www.guidedinc.com/items/ISO.pdf

                     About Guided Therapeutics

Guided Therapeutics, Inc. (OTC BB and OTC QB: GTHP)
-- http://www.guidedinc.com/-- is developing a rapid and painless
test for the early detection of disease that leads to cervical
cancer.  The technology is designed to provide an objective result
at the point of care, thereby improving the management of cervical
disease.  Unlike Pap and HPV tests, the device does not require a
painful tissue sample and results are known immediately.  GT has
also entered into a partnership with Konica Minolta Opto to
develop a non-invasive test for Barrett's Esophagus using the
LightTouch technology platform.

The Company's balance sheet at September 30, 2010, showed
$3.4 million in total assets, $2.8 million in total liabilities,
and stockholders' equity of $595,000.

As reported by the Troubled Company Reporter on March 29, 2010,
UHY LLP, in Atlanta, Georgia, expressed substantial doubt about
Guided Therapeutics' ability to continue as a going concern,
following the Company's 2009 results UHY noted of the Company's
recurring losses from operations, accumulated deficit and working
capital deficit.

"If sufficient capital cannot be raised at some point by the third
quarter of 2011, we might be required to enter into unfavorable
agreements or, if that is not possible, be unable to continue
operations, and to the extent practicable, liquidate and/or file
for bankruptcy protection," the Company said in its Form 10-Q for
the quarter ended Sept. 30, 2010.


HAROLD PAVILACK: Trustee Taps Colliers as Consultant and Broker
---------------------------------------------------------------
David Wren at The Sun News reports that Charles Summerall, the
trustee in charge Harry Pavilack's Chapter 11 bankruptcy
reorganization, is asking the bankruptcy judge for permission to
hire Colliers International Charleston LLC, a real estate
consultant and broker, to analyze and possibly market some of
Mr. Pavilack's property.

The Sun News, citing papers filed with the court, relates that
Mr. Pavilack and his business entities own more than 200 parcels
of real estate in eight states.  The real estate includes
agricultural, office, retail, industrial and residential
properties.  Most of the properties have at least one lien filed
against them.

Many of the banks that loaned money to Mr. Pavilack for those
properties have asked the bankruptcy court for permission to
foreclose on the real estate, according to The Sun News.

Based in Myrtle Beach, South Carolina, Harold H. Pavilack aka
Harry H. Pavilack filed for Chapter 11 bankruptcy protection on
Sept. 7, 2010 (Bankr. S.D. S.C. Case No. 10-06503).  Judge John E.
Waites presides over the case.  Cheevin Ty Gardner, Esq., at Harry
Pavilack And Associates, represents the Debtor.  The Debtor
estimated assets of less than $50,000, and debts of between
$10 million and $50 million in its Chapter 11 petition.


HAYSEED HOLDING: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Hayseed Holding Company, LLC
        2050 South 300 West
        Beaver, UT 84713

Bankruptcy Case No.: 11-21237

Chapter 11 Petition Date: February 2, 2011

Court: U.S. Bankruptcy Court
       District of Utah (Salt Lake City)

Judge: William T. Thurman

Debtor's Counsel: Shawn T. Farris, Esq.
                  FARRIS & UTLEY PC
                  2107 W. Sunset Boulevard, 2nd Floor
                  St. George, UT 84770
                  Tel: (435) 634-1600
                  Fax: (435) 628-9323
                  E-mail: farris@farrisutley.com

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

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

The Company did not file a list of creditors together with its
petition.

The petition was signed by Steve Larson, managing member.


HEALTHEAST CARE: Moody's Affirms 'Ba1' Rating on $270 Mil. Bonds
----------------------------------------------------------------
Moody's Investors Service has affirmed the Ba1 long-term bond
rating assigned to HealthEast Care System's (MN) $270 million of
outstanding bonds issued by the St. Paul Housing & Redevelopment
Authority and the Washington County Housing & Redevelopment
Authority.  The outlook is stable.  The affirmation and stable
outlook reflect Moody's belief that despite improvement in
financial performance in FY 2010, the system's low levels of cash
and investments remain less than category medians for a system of
this size and scope.

Legal Security: The bonds are secured by a gross revenue pledge
from the Obligated Group, which includes HealthEast's three acute
care hospitals, the long term acute hospital and the parent,
representing the vast majority of total system cash flow.  Fully
funded debt service reserve funds with mortgages included on all
of the obligated group properties.

Interest Rate Derivatives: None.

                            Strengths

* Much improved financial performance in fiscal year (FY) 2010
  following weaker FY 2009; operating income in FY 2010 was
  $12.8 million (1.5% margin) before nursing strike related costs,
  compared to $5.3 million (0.6% margin) in FY 2009

* Management attributes positive inpatient volume trends in FY
  2010 (2.1% growth) to heavy investments in quality initiatives
  and construction of an all private room tower and new emergency
  department at the St.  Joseph's facility; HealthEast is the only
  provider in the Twin Cities with 100% private rooms

* HealthEast maintains leading market share of 39% (as provided by
  management) in its service area, although it faces formidable
  competition in the form of United Hospital (part of A1-rated
  Allina Health System) and Regions Hospital (part of Baa1-rated
  HealthPartners)

* Debt is all fixed rate with no derivatives, which limits
  HealthEast's exposure to unexpected calls on its liquidity

* Favorable payer mix, with Medicaid contributing to only 5% of
  gross revenues

* No additional debt or capital projects of any significance are
  planned, although management expects to continue to spend over 2
  times depreciation on routine capital and strategic investments

                           Challenges

* Very low levels of unrestricted cash and investments for a
  system of this size, scope, and market presence, with just
  $112.8 million (50.1 days cash on hand) held at fiscal year end
  2010; Moody's Baa3 and Ba medians are 92.1 and 66.5 days
  cash on hand respectively

* Leveraged balance sheet evidenced by low cash-to-debt ratio
  (40.1%), high debt-to-cash flow (6.8 times), moderate MADS
  coverage (2.14 times), and high debt-to-capitalization ratio
  (68.7%) for FY 2010.  When converting non-cancellable operating
  leases to a debt-like equivalent, cash-to-debt declines to
  26.4%, MADS is reduced to 1.59 times, and debt-to-capitalization
  increases to 77.0%.

* Competitive pressures derive from a consolidated healthcare
  provider market and intensified physician alignment strategies

                    Recent Developments/Results

HealthEast is a sizable health care system with $856 million in
operating revenues and a combined total of more than 35,000
admissions.  HealthEast operates 527 staffed beds at three acute
care hospitals in downtown St. Paul (St. Joseph's), Maplewood (St.
John's) and Woodbury (Woodwinds), as well as a 175-bed long term
acute care hospital, an outpatient diagnostic imaging site and two
outpatient surgery sites.  Following the expansion of the St.
Joseph's Hospital and the subsequent conversion of semi-private
rooms to private rooms, HealthEast is the only provider in the
Twin Cities market with 100% private rooms.  HealthEast has
repositioned itself to gain a competitive advantage over other
area providers by developing strategies that deliver clinical care
in excess of national benchmark standards, improving processes to
add capacity, improving employee satisfaction and building
consumer loyalty.

HealthEast is the market leader with 39% market share in the east
metro service area (the Twin Cities are divided by the Mississippi
River).  Competition comes from United Hospital (part of A1-rated
Allina) and Regions Hospital (part of Baa1-rated HealthPartners).
Management provided market share data for 2010 shows a slight gain
in market share of 1% for HealthEast, with United Hospital
declining by 1%.  In recent years Regions Hospital has seen market
share growth, as HealthPartners' staff model providers are
directing their admissions to Regions.  HealthEast seeks to
increase its market share in the region through the implementation
of its quality investments, as well as physician retention and
recruitment.  HealthEast recently announced its employment of 11
cardiologists that were formerly part of a large independent
cardiology group in St. Paul that dissolved in December 2010 and
anticipates growing their employed cardiologist group to 17 to 19
physicians in the near term.  Moody's anticipate providers in the
Twin Cites market, including HealthEast, to ramp up recruitment of
specialists in the coming years, as there are very few independent
primary care physician groups remaining and the market is highly
consolidated.

FY 2010 financial performance showed improvement over FY 2009,
with operating income totaling $12.8million (1.5% margin) before
including non-recurring expenses related to a nurses' strike which
occurred in June 2010.  Revenues grew by 3.5% in FY 2010, and
expense growth was controlled at 2.3% following HealthEast's
implementation of non-labor expense reductions which, according to
management, will result in continued annual savings of $6 million
in FY 2011 and going forward.  Revenue growth was largely a
function of improvements to volumes trends, as inpatient
admissions grew by 2.1% in FY 2010 following a year of material
inpatient volume declines (-5.6%) in FY 2009.  As a result of
HealthEast's revenue growth and expense reductions, operating cash
flow grew to $48.4 million (5.7% margin) in FY 2010, an
improvement over the $37.3 million operating cash flow (4.5%
margin) in FY 2009.  Debt-to-cash flow declined favorably to 6.8
times in FY 2010 from 8.8 times in FY 2009, although this measure
still remains weak relative to Moody's Ba median of 5.8 times.
Moody's-adjusted maximum annual debt service (MADS) coverage also
improved slightly, to 2.14 times from 2.02 times, although this
measure also falls below the Ba median of 2.4 times.  The first
three months of FY 2011 (period ending November 30, 2010) compared
similarly to the prior year same period with a 2.1% operating
margin and a 6.4% operating cash flow margin.  HealthEast's FY
2011 budget projects slight improvement over FY 2010, with a 2.0%
operating margin and 6.5% operating cash flow margin and includes
the annual expense savings as outlined above.

HealthEast's balance sheet also showed improvement at fiscal
yearend 2010, although the system's low level of unrestricted
cash and investments remains a challenge for the system and is
a key credit factor behind its below investment grade rating.
Total unrestricted cash and investments at FYE 2010 totaled
$112.8 million (50.1 days cash on hand) compared to $97.4 million
(44.3 days cash on hand) held at FYE 2009.  Cash-to-debt improved
to 40.1% at FYE 2010, versus just 34.9% at FYE 2009, but compares
unfavorably to the Baa3 and Ba medians of 75.8% and 65.3%,
respectively.  The system's investments are conservatively
invested with 24% held as equity investments, 27% as fixed income
securities, and 47% as cash and cash-equivalents.  Over 98% of
HealthEast's investment portfolio can be liquidated in one month
or less.  Moody's note favorably, that because HealthEast does not
have any variable rate demand bonds or interest rate swap
agreements, the potential for unexpected calls on liquidity are
limited.

In recent years, HealthEast has focused its capital spending
largely on strategic quality investments and completion of a new
patient tower and renovated emergency department at its St.
Joseph's facility in downtown St. Paul.  While large brick and
mortar projects have been completed, HealthEast's FY 2011 capital
budget includes sizable spending for strategic quality investments
(including information technology and clinic growth).  Capital
spending has averaged 2.4 times depreciation for the past five
years, which is partly a reason for HealthEast's lower than
average cash levels.  Total capital spending during FY 2010 was
$44.3 million and management expects to spend approximately
$40 million for routine and strategic capital investments in FY
2011.

                              Outlook

The stable outlook reflects Moody's belief that the system's
financial performance and balance sheet measures will be
maintained at current levels.  Investments in quality initiatives
that are expected to lead to an improved competitive position over
the longer term will limit balance sheet improvement until the
intermediate term.

                What could change the rating -- Up

Maintaining or improving operating profits and debt coverage
measures, return to much higher cash balances from current levels.

               What could change the rating -- Down

Further decline in cash balances, deterioration in operating
performance, shift in volume and change in competitive position.

                          Key Indicators

Assumptions & Adjustments:

  -- Based on financial statements for HealthEast Care System
  -- First number reflects audit year ended August 31, 2009
  -- Second number reflects audit year ended August 31, 2010
  -- Investment returns normalized at 6% unless otherwise noted

* Inpatient admissions: 34,550; 35,276

* Total operating revenues: $827.3 million; $855.9 million

* Moody's-adjusted net revenue available for debt service:
  $45.2 million; $55.8 million

* Total debt outstanding: $279.1 million; $281.1 million

* Maximum annual debt service (MADS): $22.4 million; $26.1 million

* MADS Coverage with reported investment income: 1.62 times; 2.01
  times

* Moody's-adjusted MADS Coverage with normalized investment
  income: 2.02 times; 2.14 times

* Debt-to-cash flow: 8.83 times; 6.77 times

* Days cash on hand: 44.3 days; 50.1 days

* Cash-to-debt: 34.9%; 40.1%

* Operating margin: 0.6%; 1.5%

* Operating cash flow margin: 4.5%; 5.7%

Rated Debt (debt outstanding as of August 31, 2010):

  -- Series 2005, $202.9 million outstanding, rated Ba1, fixed
     rate, issued through the Washington County Housing and
     Redevelopment Authority

  -- Series 1998, $48.6 million outstanding, rated Ba1, fixed
     rate, issued through the Washington County Housing and
     Redevelopment Authority

Series 1997, $18.3 million outstanding, rated Ba1, fixed rate,
issued through the St.  Paul Housing and Redevelopment Authority

The last rating action with respect to HealthEast Care System was
on January 29, 2010 when the municipal finance scale rating of Ba1
and stable outlook were affirmed.  That rating was subsequently
recalibrated to a global scale rating on May 7, 2010.

Moody's adopts all necessary measures so that the information it
uses in assigning a credit rating is of sufficient quality and
from sources Moody's considers to be reliable including, when
appropriate, independent third-party sources.  However, Moody's is
not an auditor and cannot in every instance independently verify
or validate information received in the rating process.


HLI OPERATING: Moody's Raises Corporate Family Rating to 'B2'
-------------------------------------------------------------
Moody's Investors Service raised the ratings of HLI Operating
Company, Inc. -- Corporate Family and Probability of Default
Ratings, to B2 from B3.  HLI Operating Company is the U.S.
operating company of Hayes Lemmerz International, Inc.  In
a related action Moody's raised the ratings of the senior
secured $80 million term loan to HLI Operating Company and the
$120 million term loan to Hayes Lemmerz Finance LLC - Luxembourg
S.C.A to B1 from B2.  The rating outlook is stable.

These ratings were raised:

HLI Operating Company, Inc.

* Corporate Family Rating, to B2 from B3;

* Probability of Default, to B2 from B3;

* $80 million senior secured new money term loan facility, to B1
  (LGD3, 35%) from B2 (LGD3, 35%);

Hayes Lemmerz Finance LLC - Luxembourg S.C.A.

* $120million senior secured new money term loan exit facility, to
  B1 (LGD3, 35%) from B2 (LGD3, 35%);

                         Rating Rationale

The upgrade of Hayes Lemmerz' Corporate Family Rating to B2
reflects the company's better than anticipated operating
performance since emerging from Chapter 11 in December 2009.  The
company's performance benefited from better than expected
automotive demand, particularly in Europe (about 56% of revenues).
The company's performance also benefitted from a better product
mix in the first half of 2010 supported by a greater share of
larger cars sold carrying higher revenue per wheel, and strong
automotive exports from Europe.  Hayes Lemmerz' exposure to North
America (about 17% of revenues) also is contributing to the
company's growth as industry unit retail sales in 2010 improved
over 11% above 2009 levels.  The company also benefited from
recovering commercial production (about 30% of revenues).  With
stronger sales, Hayes Lemmerz was able to leverage cost structure
improvements enacted over the prior years, which included
reductions in labor, the sale of non-core operations and moving
manufacturing operations to low cost countries.  These actions
have led to an increase in the company's EBIT margins (as adjusted
by Moody's), above those experienced prior the industry downturn
in 2009.

Hayes Lemmerz emerged from its voluntary Chapter 11 reorganization
on December 21, 2009.  Through the reorganization process, the
company reduced its pre-petition debt to about $240 million
from about $720 million.  Hayes Lemmerz also reduced its legacy
retiree medical and pension liabilities in the U.S. to less than
$75 million from about $250 million.  These capital structure
changes in combination with the improved operating performance are
generating financial metrics supportive of the higher rating.

The stable rating outlook incorporates Moody's expectation that
Hayes Lemmerz' credit metrics should remain strong for the
assigned rating as global automotive and commercial vehicle
markets continue to improve.  The company is expected to benefit
from improving automotive and commercial vehicle demand in North
America.  Yet, modest revenue growth is expected in Europe as the
region continues to lag global economic recovery levels.  In
addition, profit margins may be challenged by increasing raw
material prices (largely steel), and incremental employee costs
needed to support high growth levels.  In addition, with the
current ownership of Hayes Lemmerz in the hands of certain of the
prepetition debt holders, there is a likelihood of the capital
structure evolving over the intermediate-term as the industry
recovers.

Hayes Lemmerz is expected to have adequate liquidity over the next
twelve months supported by its large cash balances and modest free
cash flow generation expected over the near-term.  The lack of a
committed multi-year revolving credit facility continues to be a
detriment to the company's liquidity profile.  Yet, Hayes Lemmerz
is expected to build on its recent operating performance through
fiscal 2011 and generate modest positive free cash flow after
capital expenditures and higher levels of working capital.  This
performance should support ample covenant cushion over the next
twelve months.  Alternate liquidity is limited as essentially all
of the company's assets secure the credit facilities.

The last rating action was January 6, 2010, when the B3 Corporate
Family rating was assigned.

Hayes Lemmerz International, Inc., located in Northville, MI, is a
leading worldwide producer of aluminum and steel wheels for
passenger cars and light trucks and of steel wheels for commercial
trucks and trailers.  The Company has global operations with 20
facilities, including business and sales offices and manufacturing
facilities located in 12 countries around the world.  Hayes
Lemmerz sells its products to every major Original Equipment
Manufacturer.


HUBBARD PROPERTIES: Section 341(a) Meeting Scheduled for Feb. 23
----------------------------------------------------------------
The U.S. Trustee for Region 21 will convene a meeting of Hubbard
Properties, LLC's creditors on February 23, 2011, at 2:30 p.m.
The meeting will be held at Room 100-B, 501 East Polk St.,
(Timberlake Annex), Tampa, Florida.

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.

Hubbard Properties owns tourist and entertainment center John's
Pass Village in Madeira Beach, Florida. Hubbard Properties said it
owes $22 million to Investors Warranty of America.

Hubbard Properties, LLC, filed for Chapter 11 protection (Bankr.
M.D. Fla. Case No. 11-01274) in Tampa on January 27, 2011.  David
S. Jennis, Esq., at Jennis & Bowen, P.L., serves as bankruptcy
counsel.  The Debtor estimated its assets and debts at $10 million
to $50 million as of the Petition Date.


HUBBARD PROPERTIES: Taps Jennis & Bowen as Bankruptcy Counsel
-------------------------------------------------------------
Hubbard Properties, LLC, asks for authorization from the U.S.
Bankruptcy Court for the Middle District of Florida to employ
Jennis & Bowen, P.L., as bankruptcy counsel.

Jennis & Bowen will, among other things:

     (a) prepare, on behalf of the Debtor, any applications,
         answers, orders, reports, and papers in connection with
         the administration of the estate;

     (b) counsel the Debtor with regard to its rights and
         obligations as a debtor-in-possession;

     (c) prepare and file schedules of assets and liabilities; and

     (d) prepare and file a chapter 11 plan of reorganization and
         Corresponding disclosure statement.

Jennis & Bowen will be paid based on the hourly rates of its
professionals:

         Paralegals              $110-$145
         Attorneys               $185-$395

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

Hubbard Properties owns tourist and entertainment center John's
Pass Village in Madeira Beach, Florida. Hubbard Properties said it
owes $22 million to Investors Warranty of America.

Hubbard Properties, LLC, filed for Chapter 11 protection
(Bankr. M.D. Fla. Case No. 11-01274) in Tampa on January 27,
2011.  The Debtor estimated its assets and debts at $10 million
to $50 million as of the Petition Date.


INTEGRAL NUCLEAR: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Integral Nuclear Associates, LLC
        43 Leopard Road
        Paoli Executive Green II, Suite 200
        Paoli, PA 19301

Bankruptcy Case No.: 11-13066

Chapter 11 Petition Date: February 3, 2011

Court: U.S. Bankruptcy Court
       District of New Jersey (Newark)

Judge: Novalyn L. Winfield

Debtor's Counsel: Ilana Volkov, Esq.
                  Ryan T. Jareck, Esq.
                  COLE, SCHOTZ, MEISEL, FORMAN & LEONARD
                  25 Main Street
                  Hackensack, NJ 07601
                  Tel: (201) 489-3000
                       (201) 525-6278
                  Fax: (201) 489-1536
                  E-mail: ivolkov@coleschotz.com
                          rjareck@coleschotz.com

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

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

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/njb11-13066.pdf

The petition was signed by Ronald J. Lissak, chief executive
officer.

Debtor affiliates of Integral Nuclear Associates that filed for
Chapter 11 on Feb. 3, 2011.

Entity                               Case No.
------                               --------
Doylestown PET Associates, LLC        11-13067
Imaging Technology Associates, LLC    11-13068
Integral Mobile PET/CT, LLC           11-13070
Integral PET Associates, LLC          11-13072
Integral PET Holdings, LLC            11-13075
Integral PET Holdings II, LLC         11-13076
P&K Equity Group, Inc.                11-13077
Limerick PET Associates, LLC          11-13078
Meadowbrook PET Associates, LLC       11-13080
Mobile PET/CT Associates, LLC         11-13082
Nuclear Management, Inc.
  f/k/a Integral PET Center, Inc.     11-13083
Pennsylvania PET Associates, LLC      11-13085

Previous Chapter 11 filings by the Debtors and their affiliates
filed separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Integral Nuclear Associates, LLC      07-15183            04/15/07
Abington Nuclear Imaging, LLC         07-15186            04/16/07
Adirondack PET Associates, LLC        07-15187            04/16/07
Atwood Nuclear Imaging, LLC           07-15188            04/16/07
Chester County PET Associates, LLC    07-15189            04/16/07
Doylestown PET Associates, LLC        07-15190            04/16/07
Englewood PET Associates, LLC         07-15191            04/16/07
Forest Hills PET Associates, LLC      07-15204            04/16/07
Havertown PET Associates, LLC         07-15196            04/16/07
Imaging Technology Associates, LLC    07-15192            04/16/07
Integral Advisory Associates, LLC     07-15194            04/16/07
Integral Financial Corporation        07-15197            04/16/07
Integral Mobile PET Associates, LLC   07-15198            04/16/07
Integral Mobile PET/CT, LLC           07-15215            04/16/07
Integral PET Associates, LLC          07-15200            04/16/07
Integral PET Holdings, LLC            07-15201            04/16/07
Integral PET Holdings II, LLC         07-15203            04/16/07
ITA Holdings, LLC                     07-15202            04/16/07
Limerick PET Associates, LLC          07-15205            04/16/07
Meadowbrook PET Associates, LLC       07-15206            04/16/07
Mobile PET/CT Associates, LLC         07-15207            04/16/07
Nuclear Management, Inc.              07-15208            04/16/07
  f/k/a Integral PET Center, Inc.
Pennsylvania PET Associates, LLC      07-15209            04/16/07
R.J. Management Associates, LLC       07-15210            04/16/07
Wyoming Valley PET Associates, LLC    07-15213            04/16/07


INT'L STORYTELLING: Wants to Reject Contract With NSN
-----------------------------------------------------
Ken Little, freelance contributor to the News Sentinel, reports
that Jimmy Neil Smith, festival founder and executive director of
the International Storytelling Center, said that a motion will be
filed in federal bankruptcy court to void a contract with the
National Storytelling Network that splits the gross proceeds from
ISC's storytelling festival in Jonesborough, Tennessee, every
October.

According to the News Sentinel, the ISC and NSN were once part of
the same organization, but split in 1998 in a dispute over
creative priorities.  The ISC oversees the annual festival and
International Storytelling Center in Jonesborough, while the NSN
became a member-driven organization "dedicated to the art of
storytelling."

"That arrangement over the last decade has generated almost
$1.9 million for the National Storytelling Network.  We are asking
(the court) to reject that agreement," the report quotes Mr. Smith
as stating.  "We can no longer remain financially sustainable if
this agreement is kept in place."

Based in Jonesborough, Tennessee, International Storytelling
Center filed for Chapter 11 protection (Bankr. E.D. Tenn. Case No.
10-53299) on Dec. 31, 2010.  Judge Marcia Phillips Parsons
presides over the case.  Mark S. Dessauer, Esq., at Hunter, Smith
& Davis, represents the Debtor.  The Debtor both estimated assets
and debts between $1 million and $10 million.


INVENTIV HEALTH: S&P Affirms Corporate Credit Rating at 'B+'
------------------------------------------------------------
Standard & Poor's Ratings Services said that it affirmed its 'B+'
corporate credit rating on Somerset, N.J.-based inVentiv Health
Inc.  The outlook is stable.

S&P also affirmed its 'BB-' rating on the company's senior secured
debt rating, keeping the recovery rating a '2', indicating
expectations for substantial (70%-90%) recovery in the event of a
default.

In addition, S&P affirmed its 'B-' senior unsecured debt rating on
inVentiv's existing $275 million of senior unsecured notes, and
assigned the same ratings to the new $160 million of senior
unsecured notes. S&P assigned a '6' recovery rating to the new
notes, indicating expectations for negligible (0%-10%) recovery.

"The speculative-grade ratings on inVentiv Health reflect its
highly leveraged financial risk profile, highlighted by pro forma
adjusted debt leverage of roughly 6x, integration risk associated
with its acquisitive nature, and the improving -- but still
uncertain -- environment for outsourced pharmaceutical services,"
said Standard & Poor's credit analyst Arthur Wong.  These concerns
are partly offset by inVentiv's fair business risk profile, given
its solid position in the outsourced pharmaceutical communications
market, its growing breadth of services offered, and S&P's
favorable long-term view of industry growth prospects.

Acquired by private-equity sponsor Thomas H. Lee Partners and
Liberty Lane Partners for $1.1 billion in August 2010, inVentiv is
considered highly leveraged, with debt of roughly 6x.  The company
recently announced two acquisitions, i3 Global and Campbell
Alliance. The transactions will cost a total of $540 million
(roughly $400 million for i3 and $140 million for Campbell) and
will be funded with a mix of cash, new equity, and $475 million of
new debt. Assuming modest growth in revenues for the combined
business, stable margins, and a conservative amount of synergies,
S&P estimate pro forma adjusted debt leverage will remain in the
6x area.

The acquisitions broaden inVentiv's service offerings and
significantly increase its clinical and consulting segments.  The
company's commercial segment, which mainly offers outsourced sales
teams and advertising and public relations services, is the
company's largest, at an estimated 54% of revenues on a pro forma
basis.  The company remains one of the leading contract sales
organizations for the pharmaceutical industry.  The acquisition of
i3 makes inVentiv's clinical division (roughly 40% of revenues)
one of the top 10 full-service contract research organizations in
the industry.  Meanwhile, Campbell Alliance will bolster
inVentiv's consulting practice, which will generate 6% of total
revenues.  The company offers a broad array of services and has
the ability to offer an integrated solution to pharmaceutical
clients, which increasingly want to deal with fewer and larger
vendors.


JASON'S HAULING: Owes $3.4 Million to Mercantile Bank
-----------------------------------------------------
Michael Sasso at The Tampa Tribune reports that Jason's Hauling
owes at least $3.4 million to its lender Mercantile Bank and
smaller amounts to other banks, as well as fuel and equipment
suppliers.  The Company's revenues in 2010 were about
$15.6 million.

According to the report, the Company said it filed for Chapter 11
due to a cash crisis.  The company sought bankruptcy protection
when it believed Mercantile Bank was ready to declare a default.

Based in Tampa, Florida, Jason's Hauling Inc. operates a dump
truck company.  The Company filed for Chapter 11 bankruptcy
protection on Jan. 27, 2011 (Bankr. M.D. Fla. Case No. 10-01360).
Judge Catherine Peek McEwen presides over the case.  Chad S.
Bowen, Esq., at Jennis & Bowen P.L., represents the Debtor in its
restructuring efforts.  The Company estimated both assets and
debts of between $1 million and $10 million.


JILLIAN'S ENTERTAINMENT: Closes Cleveland Heights Location
----------------------------------------------------------
Kristen Russo at Vindy.com report that Jillian's in the Southern
Park Mall, in Youngstown, Ohio, has closed.  Sheryl Raulin,
marketing director for the Southern Park Mall, said JBC
Entertainment had let its lease expire.

Vindy.com reports that there are currently nine other Jillian's
locations, none of which are in Ohio, and that it is unknown
whether any of those locations will close.

According to Tim Maguire, general manager of the Cleveland Heights
Jillian's, the restaurant's parent company, JBC Entertainment,
sold the location to local owners on October 11.

                   About Jillian's Entertainment

Headquartered in Louisville, Kentucky, Jillian's Entertainment
Holdings, Inc. -- http://www.jillians.com/-- operated more than
40 restaurant and entertainment complexes in 20 states before it
filed for bankruptcy.  The Company filed for chapter 11 protection
on May 23, 2004 (Bankr. W.D. Ky. Case No. 04-33192).  Edward M.
King, Esq., at Frost Brown Todd LLC and James H.M. Sprayregen,
Esq., at Kirkland & Ellis LLP, represent the Debtors in their
restructuring efforts. Jillian's Entertainment estimated assets of
more than $100 million and debts of more than $100 million in its
Chapter 11 petition.  Judge David T. Stosberg confirmed the
Debtors' Amended Joint Liquidating Plan on Dec. 12, 2004.  Steven
L. Victor is the Plan Administrator.


JUNCO STEEL: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Junco Steel Corporation
        Cale A No. 155
        Urbanizacion Industrial Minillas
        Bayamon, PR 00960

Bankruptcy Case No.: 11-00827

Chapter 11 Petition Date: February 2, 2011

Court: U.S. Bankruptcy Court
       District of Puerto Rico (Old San Juan)

Debtor's Counsel: Carmen D. Conde Torres, Esq.
                  254 San Jose Street, 5th Floor
                  San Juan, PR 00901-1523
                  Tel: (787) 729-2900
                  Fax: (787) 729-2203
                  E-mail: notices@condelaw.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/prb11-00827.pdf

The petition was signed by Miguel Torregrosa Fuertes, general
manager.


KENMORE REALTY: Files Schedules of Assets & Liabilities
-------------------------------------------------------
Kenmore Realty Group LLC has filed with the U.S. Bankruptcy Court
for the Northern District of Illinois its schedules of assets and
liabilities, disclosing:

  Name of Schedule                        Assets       Liabilities
  ----------------                        ------       -----------
A. Real Property                        $6,000,000
B. Personal Property                        $1,000
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                       $7,800,000
E. Creditors Holding
   Unsecured Priority
   Claims                                                     $750
F. Creditors Holding
   Unsecured Non-priority
   Claims                                                 $669,329
                                       -----------     -----------
      TOTAL                             $6,001,000      $8,470,079

A copy of the Schedules of Assets and Liabilities is available for
free at http://bankrupt.com/misc/Kenmore_Realty_SAL.pdf

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


KERNER OPTICAL: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Kerner Optical, LLC
        90 Windward Way
        San Rafael, CA 94901

Bankruptcy Case No.: 11-10413

Chapter 11 Petition Date: February 4, 2011

Court: U.S. Bankruptcy Court
       Northern District of California (Santa Rosa)

Judge: Alan Jaroslovsky

Debtor's Counsel: David N. Chandler, Esq.
                  LAW OFFICES OF DAVID N. CHANDLER
                  1747 4th Street
                  Santa Rosa, CA 95404
                  Tel: (707) 528-4331
                  E-mail: DChandler1747@yahoo.com

Scheduled Assets: $798,964

Scheduled Debts: $4,315,208

The Company did not file a list of creditors together with its
petition.

The petition was signed by Eric Edmeades, CEO.


LANE PUNCH: Dayton Buys Assets; Two Plants to Close
---------------------------------------------------
Emily Ford at Post Publishing Company Inc. reports that Ohio-based
Dayton Progress Corporation has acquired the assets of competitor
Lane Punch.  Dayton will buy the assets -- but will not continue
operating -- Lane Punch's plants in Salibury, North Carolina, and
Canton, Michigan, according to the report.

According to the report, Dayton Progress bought the name,
business, equipment, inventory and all other assets of Lane all
but not the land or buildings.  Dayton Progress did not assume any
liabilities of Lane Punch.

According to the report, Dayton Progress anticipates transferring
all production from the Lane plants to factories in Ohio, Canada,
Mexico, Europe and Asia, according to a letter Lane Punch
employees received last week

According to the report, seventy-five employees at Lane Punch
plants in Salisbury and Canton, Mich. will lose their jobs.  An
estimated 50 to 60 people work at the Salisbury location.

Lane Punch makes precision metal stamping punches and die
components.  The Company filed for bankruptcy protection due to
the economic downturn and decreasing business volume.

Salisbury, North Carolina-based Lane Punch Corporation filed for
Chapter 11 protection (Bankr. W.D. N.C. Case No. 10-32146) in
Charlotte on July 27, 2010.  Bankruptcy Judge J. Craig Whitley
presides over the case.  Travis W. Moon, Esq., at Hamilton Moon
Stephens Steele Martin, in Charlotte, serves as bankruptcy counsel
to the Debtor.


LAS VEGAS MONORAIL: Ambac Can't Elevate Appeal to 9th Cir.
----------------------------------------------------------
District Judge James C. Mahan denied an emergency request by Ambac
Assurance Corporation and The Segregated Account of Ambac
Assurance Corporation's for certification for direct appeal to the
Court of Appeals for the Ninth Circuit of a bankruptcy court
ruling in Las Vegas Monorail Company's case.

LVMC objected.

On April 26, 2010, the Bankruptcy Court for the District of Nevada
entered an order denying Ambac's motion to dismiss LVMC's Chapter
11 case.  Ambac filed a timely appeal and a motion for leave to
appeal.  On May 12, 2010, Ambac filed its motion for stay pending
appeal with the Bankruptcy Court, which was denied a week later.
On June 17, 2010, the appeal was docketed with the District Court
for the District of Nevada.  In its appeal, Ambac asserts that the
Bankruptcy Court abused its discretion in denying the motion to
stay.

On October 29, 2010, the District Court denied Ambac's motion to
treat the appeal as a notice of appeal as of right under the
collateral order doctrine, and denied Ambac's motion for a stay.
The District Court held that it was "not inclined to treat the
order as final," as the appeal did not meet the necessary criteria
to be treated as an appeal of right.

In the Certification Motion, Ambac is requesting certification for
direct appeal to the Court of Appeals for the Ninth Circuit
pursuant to 28 U.S.C. Sec. 158(d).  Ambac asserts that the appeal
meets two subsections of section 158(d), namely that "(i) the
judgment, order or decree involves a question of law as to which
there is no controlling decision of the court of appeals for the
circuit or of the Supreme Court of the United States or involves a
matter of public importance;" and that "(iii) an immediate appeal
from the judgment, order, or decree may materially advance the
progress of the case or proceeding in which the appeal is taken
. . ."

According to Judge Mahan, in light of the October 29, 2010
District Court ruling that the order was not final and thus not
able to be treated as an appeal as of right, Ambac's motion for
certification for direct appeal is moot.

The case before the District Court is Ambac Assurance Corporation,
et al., v. Las Vegas Monorail Company, a Nevada non-profit
corporation, Case No. CV-S-JCM (D. Nev.).

A copy of the District Court's January 31, 2011 Order is available
at http://is.gd/5D8xTzfrom Leagle.com.

                     About Las Vegas Monorail

Las Vegas, Nevada-based Las Vegas Monorail Company, organized by
the State of Nevada in 2000 as a nonprofit corporation, owns and
manages the Las Vegas Monorail.  The Monorail is a seven-stop,
elevated train system that travels along a 3.9-mile route near the
Las Vegas Strip.  LVMC has contracted with Bombardier Transit
Corporation to operate the Monorail.  Though it benefits from its
tax-exempt status due to being a nonprofit entity, LVMC claims to
be the first privately-owned public transportation system in the
nation to be funded solely by fares and advertising.  LVMC says it
receives no governmental financial support or subsidies.

The Company filed for Chapter 11 bankruptcy protection on
January 13, 2010 (Bankr. D. Nev. Case No. 10-10464).  Gerald M.
Gordon, Esq., at Gordon Silver, represents the Company as counsel.
Alvarez & Marsal North America, LLC, is the Debtor's financial
advisor.  Stradling Yocca Carlson & Rauth is the Debtor's special
bond counsel.  Jones Vargas is the Debtor's special corporate
counsel.  The Company disclosed $395,959,764 in assets and
$769,515,450 in liabilities as of the Petition Date.

In May 2010, Ambac Assurance Corp. lost its bid to stay the
bankruptcy case while a district court considers whether the
bankruptcy court wrongly rejected Ambac's argument that Monorail
was a municipality and thus ineligible to be a Chapter 11 debtor.


MAJESTY HOSPITALITY: Case Summary & 17 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Majesty Hospitality, LLC
        7201 Wesley Road
        Springfield, VA 22150

Bankruptcy Case No.: 11-10422

Chapter 11 Petition Date: February 2, 2011

Court: U.S. Bankruptcy Court
       Western District of Oklahoma (Oklahoma City)

Judge: Niles L. Jackson

Debtor's Counsel: Robert J. Haupt, Esq.
                  PHILLIPS MURRAH P.C.
                  Corporate Tower, 13th Floor
                  101 N. Robinson
                  Oklahoma City, OK 73102
                  Tel: (405) 235-4100
                  Fax: (405) 235-4133
                  E-mail: rjhaupt@phillipsmurrah.com

Scheduled Assets: $2,965,739

Scheduled Debts: $4,834,601

A list of the Company's 17 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/okwb11-10422.pdf

The petition was signed by Ashok Patel, managing member.


MARKHAM HILL: Case Summary & 2 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Markham Hill Development Co., LLC
        5 N. West Avenue
        Fayetteville, AR 72701

Bankruptcy Case No.: 11-70444

Chapter 11 Petition Date: February 3, 2011

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

Debtor's Counsel: Stanley V. Bond, Esq.
                  BOND LAW OFFICE
                  P.O. Box 1893
                  Fayetteville, AR 72701-1893
                  Tel: (479) 444-0255
                  Fax: (479) 444-7141
                  E-mail: attybond@me.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 two largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/arwb11-70444.pdf

The petition was signed by Richard Alexander, administrative
member.


MARVIN B SMITH III: Court Dismisses Suit v. Atlantic Southern
-------------------------------------------------------------
Bankruptcy Judge John S. Dalis granted Atlantic Southern Bank's
motion to dismiss the lawsuit, Marvin B. Smith III, Sharon H.
Smith, v. Atlantic Southern Bank, Adv. Pro. No. 09-02033 (Bankr.
S.D. Ga.) on the grounds of failure to prosecute and willful
contempt of the Court's orders.  However, the Court denied the
bank's request for sanctions.

The Smiths are a retired couple whose livelihood once consisted of
the buying and reselling of exclusive residential properties.
Borrowing large sums of money to purchase such properties was a
necessary component of this work, and when the real estate market
began its current epic crash, the Smiths were left holding
properties they were unable to sell, securing promissory notes
they were unable to pay.  As a result, the Smiths filed for
Chapter 11 (Bankr. S.D. Ga. Case No. 07-20244) April 2, 2007.  The
case was later converted to one under Chapter 7 on May 8, 2008.

The Smiths' dispute with Atlantic Southern concerns real property
identified as Cottage 526, 24th Street, Sea Island, Georgia.
Atlantic Southern foreclosed on the Sea Island Cottage on the
basis of a first-priority deed to secure debt after the Smiths
failed to make adequate protection payments under the provisions
of an order on motion for relief from stay.  Atlantic Southern
then bought the Sea Island Cottage for $5.1 million as the sole
bidder at a foreclosure sale on May 6, 2008.  The foreclosure
process was later found to be defective.

A copy of the Court's January 31, 2011 Order is available at
http://is.gd/o5ZDa0from Leagle.com.


MAX EQUIPMENT: Emerges from Chapter 11 Bankruptcy
-------------------------------------------------
FocalPoint Partners, LLC, financial advisor to Max Equipment
Rental, LLC, announced that Max Equipment emerged from Chapter 11
protection.

On January 13, 2011, the U.S. Bankruptcy Court for the Central
District of California confirmed the Chapter 11 plan of
reorganization of Max Equipment and certain affiliated companies.
FocalPoint relates that under the terms of the Plan, the secured
creditors will be paid in full over time with affordable
restructured payment terms and the unit holders, Mason Bailey and
Robert McDaris, will retain 100% ownership and control of the
Company.

According to FocalPoint, Max Equipment successfully expanded its
operations through 2007 but was negatively impacted by the
downturn in the economy, particularly the construction market in
the Southwestern United States.  The economic downturn led to
substantial pricing pressure as demand for the Company's services
declined.  Unable to successfully negotiate an out of court
restructuring with a large and disparate lender group, the Company
was forced to file for protection under Chapter 11 of the
Bankruptcy Code.

FocalPoint said it worked with the secured creditors to establish
a longer term payment plan to reduce the burdensome debt service
requirements on the Company.  As a result, the Company was able to
emerge from bankruptcy with improved cash flows amid an improving
macroeconomic environment.  At the end of 2010 the Company started
to experience a turnaround in its business, demonstrated by an
increase in rental rates and equipment utilization rates.  Mason
Bailey, Managing Member of Max, stated, "we expect the multi-
billion dollar military base construction projects in Southern
California to provide steady and constant work for Max. We are now
properly capitalized to take advantage of the rebound in this
market.  Our customers can continue to count on the highest level
of service they have come to expect from Max Equipment."

Dan Conway, a Managing Director at FocalPoint, added, "The Plan
reinstates the secured lenders' claims but under terms that are
much more manageable for the Company. The unit holders retain 100%
ownership and the Company is well positioned to take advantage of
the growth opportunities ahead."

                       About Max Equipment

Founded in 2000, Max Equipment Rental --
http://www.maxequipment.com/-- operates an equipment rental
company.  The Company has two depots in California -- Perris and
Oceanside -- and two in Mexico, in Tijuana and Mexicali.  The
Company is strategically positioned in close proximity to several
military bases in Southern California and is a preferred supplier
to general contractors servicing military construction and
maintenance contracts.

Perris, California-based Max Equipment Rental, LLC, filed for
Chapter 11 protection (Bankr. C.D. Calif. Case No. 10-10880) in
Riverside, California, on Jan. 12, 2010.  An affiliate,
Construction Machine Services, LLC, also filed for Chapter 11 (10
-10877) on the same day.

Another affiliate, Construction Labor, LLC, filed for Chapter 11
protection (Bankr. C.D. Calif. Case No. 09-40532) on Dec. 16,
2009.

John-Patrick M. Fritz, Esq. -- jpf@lnbrb.com -- and Ron Bender,
Esq., -- rb@lnbrb.com -- at Levene, Neale, Bender, Yoo and Brill
L.L.P., in Los Angeles, represents the Debtors in the Chapter 11
cases. FocalPoint Partners, LLC, served as financial advisor to
the Company.

Each of the Debtors estimated assets and debts of $1 million to
$10 million as of the Petition Date.


MEDICURE INC: In Lender Talks to Address Ongoing Default
--------------------------------------------------------
Canada-based Medicure Inc. disclosed that as at January 27, 2011,
it was in default of minimum payment requirements under its debt
financing agreement and the lender could exercise its security
rights under the agreement.  The Company said it may not have
sufficient working capital to maintain operations unless it is
successful in renegotiating the debt or obtaining additional
capital.  The Company also noted that the debt agreement contains
no express provisions to accelerate debt payments in an event of
default, however under the agreement the lender can exercise its
security rights at any time.

The Company disclosed that it currently has accrued US$4.7 million
(C$4.8 million) in debt service obligations.  Of this amount,
US$1,739,659 was originally due July 15, 2009; US$180,811 was
originally due October 15, 2009; US$195,550 was originally due
January 15, 2010; US$160,359 was originally due April 15, 2010;
US$2,063,280 was originally due on July 15, 2010, US$168,085 was
originally due October 15, 2010, and US$164,977 was originally due
January 15, 2011.

Medicure also disclosed that during fiscal 2011, the Company has
incurred an increase of legal and professional fees of $105,000
related to ongoing discussions with the Company's secured lender.

The Company continues to monitor staff and corporate expenses to
the extent deemed appropriate to more closely align expenses with
net revenue.  Based on the Company's operating plan, its existing
working capital is not sufficient to fund its planned operations,
capital requirements, debt servicing obligations, and commitments
through the end of the fiscal 2011 year without restructuring of
its debt and raising additional capital.  The Company is in
ongoing discussions with its senior lender to restructure its
debt.  No agreements with the lender or other potential lenders or
investors have been reached yet and there can be no assurance that
such agreements will be reached.

The Company is currently evaluating expressions of interest
regarding the potential partnership, license, or sale of
AGGRASTAT(R) and/or an investment in the Company, and may also
consider conversion of all or a portion of its long term debt into
equity instruments or other arrangements involving the Company's
assets.  Such transactions, if completed, could have a significant
dilutive effect on existing shareholders.

If the Company is unable to restructure its debt, complete other
strategic alternatives, and/or secure additional funds, the
Company will have to consider additional strategic alternatives
which may include, among other strategies, asset divestitures,
monetization of certain intangibles, and/or the winding up,
dissolution or liquidation of the Company.

                     November 2010 Financials

Medicure filed with the U.S. Securities and Exchange Commission on
Form 6-K its Interim Consolidated Financial Statements for the
three and six months ended November 30, 2010.  Medicure reported
revenues on net product sales of C$802,409 for the three months
ended November 30, 2010, from C$977,297 for the three months ended
November 30, 2009.  It had revenues of C$1,632,614 for the six
months ended November 30, 2010, from C$1,918,257 for the same
period in 2009.

Medicure posted "income and comprehensive income" of C$728,897 for
the three months ended November 30, 2010, from "loss and
comprehensive loss" of C$176,219 for the same three-month period
in 2009.  The Company, however, posted a "loss and comprehensive
loss" for the six months ended November 30, 2010, of C$974,262
from a loss of C$2,085,778 for the same period in 2009.

As of November 30, 2010, Medicure had C$5,500,290 in total assets,
C$31,340,057 in total liabilities, all current, and C$25,839,767
in stockholders' deficit.

A full-text copy of Medicure's Interim Consolidated Financial
Statements for the Period Ended November 30, 2010, is available at
http://is.gd/KEWWx1

A full-text copy of Medicure's Management's Discussion and
Analysis for the Period Ended November 30, 2010, is available at
http://is.gd/rU0KLY

In Medicure's annual report filed on Form 20-F for the fiscal year
ended May 31, 2010, KPMG LLP, in Winnipeg, Canada, expressed
substantial doubt about the Company's ability to continue as a
going concern.  The independent auditors noted that the Company
has experienced operating losses and cash flows from operations
since incorporation and has significant debt servicing obligations
that it does not have the ability to repay.

                       About Medicure Inc.

Based in Manitoba, Canada, Medicure Inc. (TSX/NEX: MPH.H)
-- http://www.medicure.com/-- is a specialty pharmaceutical
Company engaged in the research, clinical development and
commercialization of human therapeutics.  The Company's primary
focus is on the sale and marketing of its acute care
cardiovascular drug, AGGRASTAT(R) (tirofiban hydrochloride) in the
United States and its territories through its U.S. subsidiary,
Medicure Pharma Inc.


MOLECULAR INSIGHT: Bondholders Present Alternative Plan
-------------------------------------------------------
Ryan McBride at XCONOMY Boston reports that Molecular Insight
Pharmaceuticals' bondholders say in court documents that they
disagree with the proposed financing deal from private equity firm
Savitr Capital LLC.

According to the report, Savitr has committed $45 million to
Molecular Insight under several conditions, including that the
company can replace its some $195 million in existing bond
obligations with $90 million in bonds.  Morgan Stanley and other
bondholders, however, oppose Savitr's proposal.  The bondholders
submitted an alternative plan that includes a $40 million cash
infusion into Molecular Insight, among other terms.

The Jan. 27, 2011 edition of the Troubled Company Reporter,
reported that Molecular Insight has received approval from the
U.S. Bankruptcy Court for the District of Massachusetts to assume
its Investment Agreement entered into with Savitr.  The order,
however, further authorizes the Company to actively solicit,
during a 30-day period commencing on January 20, 2011, the date of
entry of the order, inquiries, proposals, offers and bids from,
and negotiate with, any person regarding any alternative
transaction such as an acquisition or other sale or purchase
transaction or refinancing.  Savitr will receive a break-up fee
and expense reimbursement to Savitr in the event the Company
selects a financing deal proposal from another party.

No single proposal has been deemed the winner, according to
XCONOMY.

XCONOMY notes that the Savitr financing deal requires Molecular
Insight complete its corporate restructuring by March 31.  The
next scheduled hearing for the Chapter 11 proceeding has been set
for February 16.

XCONOMY relates that Molecular Insight last year tried to sell
itself to some of the leading providers of molecular medicines
such as Bayer, Covidien (NYSE:COV), and North Billerica, MA-based
Lantheus Medical Imaging.  But those companies and others passed
on Molecular Insight because of the "intermediate stage" of the
company's product candidates, according to a January 7 court
filing made by the firm's bondholders.

                     About Molecular Insight

Cambridge, Massachusetts-based Molecular Insight Pharmaceuticals,
Inc., is a clinical-stage biopharmaceutical company that provides
services on the detection and treatment of various forms of cancer
and other life-threatening diseases.  The Debtor disclosed
$36,453,000 in total assets and $198,829,000 in total debts as of
September 30, 2010.

Molecular Insight filed for Chapter 11 bankruptcy protection on
December 9, 2010 (Bankr. D. Mass. Case No. 10-23355).  Kramer
Levin Naftalis & Franklin LLP serves as the Debtor's lead
bankruptcy counsel.  Alan L. Braunstein, Esq., at Riemer &
Braunstein, LLP, serves as the Debtor's local Massachusetts
counsel.  Foley & Lardner LLP is the Debtor's special counsel.
Tatum LLC, a division of SFN Professional Services LLC, is the
Debtor's financial consultant.  Omni Management Group, LLC, is the
claims, and balloting agent.


MEDICURE INC: Posts C$728,900 Net Income in Nov. 30 Quarter
-----------------------------------------------------------
Medicure Inc. reported net income C$728,897 on products sales of
C$802,409 for the three months ended November 30, 2010, compared
with a net loss of C$176,219 on product sales of C$977,297 for the
three months ended November 30, 2009.

At November 30, 2010, the Company's consolidated balance sheets
showed C$5.5 million in total assets, C$31.3 million in total
liabilities, and a shareholders' deficit of $25.8 million.

As reported in the Troubled Company Reporter on October 4, 2010,
KPMG LLP, in Winnipeg, Canada, expressed substantial doubt about
Medicure's ability to continue as a going concern, following its
results for the fiscal year ended May 31, 2010.  The independent
auditors noted that the Company has experienced operating losses
and cash flows from operations since incorporation and has
significant debt servicing obligations that it does not have the
ability to repay.

A full-text copy of the Company's interim consolidated financial
statements for the three months ended November 30, 2010, is
available for free at:

               http://researcharchives.com/t/s?72cb

A full-text copy of Management's Discussion and Analysis for the
three ended November 30, 2010, is available for free at:

               http://researcharchives.com/t/s?72cc

                       About Medicure Inc.

Based in Winnipeg, Manitoba, Canada, Medicure Inc. (TSX/NEX:
MPH.H) -- http://www.medicure.com/-- is a biopharmaceutical
company engaged in the research, development and commercialization
of human therapeutics.  The Company has rights to the commercial
product, AGGRASTAT(R) Injection (tirofiban hydrochloride) in the
United States and its territories (Puerto Rico, U.S. Virgin
Islands, and Guam).  AGGRASTAT(R), a glycoprotein GP IIb/IIIa
receptor antagonist, is used for the treatment of acute coronary
syndrome (ACS) including unstable angina, which is characterized
by chest pain when one is at rest, and non-Q-wave myocardial
infarction.


METAMORPHIX INC: Intends to Sell Assets as Part of Reorganization
-----------------------------------------------------------------
MetaMorphix, Inc. intends to sell all, or substantially all, of
its assets as part of its reorganization under a sale in Chapter
11 pursuant to section 363 of the Bankruptcy Code.  The Company
also announced that American MedTech Advisors has been retained to
assist in the sale of the Company.

The Company will be accepting bids for any or all of its assets
until 4:00 p.m., March 3, 2011. Qualified bidders will be invited
to participate in an auction, which will be held on March 8, 2011
at 9:00 a.m. at the law offices of Pinckney, Harris & Weidinger,
LLC, 1220 N. Market St., Wilmington, DE. Final court approval is
expected on March 9, 2011.

Beltsville, Maryland-based Metamorphix, Inc. --
http://www.metamorphixinc.com-- a life sciences company, along
with its subsidiary MMI Genomics, Inc., develops tools,
technologies, and products for livestock and companion animal
health and productivity.  The Company offers systems for DNA-based
parent verification and diagnostic testing in livestock and
companion animals.

Metamorphix had been forced into Chapter 7 bankruptcy by 14
creditors who are owed $1.69 million.  The original case was filed
on January 28, 2010, in the U.S. Bankruptcy Court for the District
of Delaware.  Martin T. Fletcher, Esq., at Whiteford, Taylor &
Preston LLP, who represents MetaMorphix, said that the Court
agreed to convert the case from an involuntary Chapter 7 to a
voluntary Chapter 11 case (Bankr. D. Del. Case No. 10-10273).


MF GLOBAL: Fitch Affirms Preferred Stock Rating at 'BB+'
--------------------------------------------------------
Fitch Ratings has affirmed the ratings of MF Global Holdings Ltd.
at 'BBB/F2'.  At the same time, Fitch has removed the ratings of
MFG from Rating Watch Negative where they were first placed on
March 23, 2010, and maintained on Sept. 22 and Nov. 24, 2010 and
assigned MFG a Negative Outlook.

MFG's ratings were initially placed on Rating Watch Negative
following sudden managerial changes, including the appointment of
Jon Corzine as CEO and Chairman.  Since then, the new management
team has taken steps to address some of the most critical
challenges facing the company.  MFG has completed a number of
measures to improve its expense base through staff reduction, a
better alignment of compensation and performance, and enhanced
operating efficiency.  The company has reduced balance sheet
leverage while also executing a number of initiatives to enhance
the quality and the carry cost of its capital structure.
Specifically, MFG completed an equity offering that raised
$174.4 million in net proceeds in June 2010.  Part of these
proceeds ($53.3 million) was used to complete an offer to exchange
common stock of the company plus cash for comparatively high-cost
convertible debt (9%) and non-cumulative preferred shares (9.75%).
The exchange offer is expected to reduce interest and dividend
expense by approximately $11.2 million after-tax per year.
Further, the company's funding and capital profile has benefited
from an amendment and extension of its revolving credit facility
at a relatively limited cost.

Nevertheless, profitability continues to be a challenge and an
important rating constraint.  Earnings and revenue generation
remain hindered by the low interest rate environment and MFG's
sensitivity to fluctuations in clearing transaction volumes as
well as client account balances.  To address profitability,
management is looking to diversify MFG's business profile from a
pure broker to a broker-dealer and, longer term, to a full
investment bank.  While diversification could help improve
profitability, it also brings incremental risk inherent to the
products and services contemplated by the firm.  Further, Fitch
recognizes that MFG will face several hurdles in executing its
strategic transformation, including fierce competition and
heightened capital requirements in the activities it intends to
grow.  Fitch believes that the company's strategic plan is subject
to execution risk and will take time to be fully realized.

The Negative Outlook reflects the uncertainty surrounding MFG's
ability to execute its strategic plan and deliver earnings in
coming periods, while also maintaining risk and financial metrics
commensurate with its current ratings.  Looking ahead, if the
company is able to achieve sustainable profits through a more
diverse source of earnings with only a measured increase in its
risk profile, the Rating Outlook could be revised to Stable.  A
meaningful increase in risk-taking activities and/or a failure to
establish a consistent earnings trend would likely result in a
downgrade of MFG's ratings, potentially by multiple notches.

MF Global Holdings Ltd. is a leading futures and options broker
with subsidiaries in major financial hubs.  Main subsidiaries are
registered futures commissions merchants and broker/dealers.  MFG
is heavily regulated as a member of commodities, futures, and
securities exchanges in the U.S., Europe and the Asia-Pacific
region.

Fitch affirms these ratings for MF Global Holdings Ltd.:

  -- Long-term IDR at 'BBB';
  -- Short-term IDR at 'F2';
  -- Senior debt at 'BBB';
  -- Preferred stock at 'BB+'.

The Rating Outlook is Negative.


MI POLLO: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: Mi Pollo, Inc.
        5050 Kanan Road
        Agoura Hills, CA 91301

Bankruptcy Case No.: 10-11434

Chapter 11 Petition Date: February 3, 2011

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

Judge: Victoria S. Kaufman

Debtor's Counsel: David B. Shemano, Esq.
                  PEITZMAN, WEG & KEMPINSKY LLP
                  10100 Santa Monica Boulevard, Suite 1450
                  Los Angeles, CA 90067
                  Tel: (310) 552-3100
                  E-mail: dshemano@pwkllp.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/cacb11-11434.pdf

The petition was signed by Michaela Mendelsohn, president.

Debtor-affiliate that filed separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Pollo West Corp.                      11-11433            02/03/11


MKR PROPERTIES: Case Summary & 19 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: MKR Properties, Inc., a California corporation
          aka M&K Enterprises, Inc., a Kansas Corp.
          dba El Norte Unocal
        P.O. Box 461442
        Escondido, CA 92046

Bankruptcy Case No.: 11-01885

Chapter 11 Petition Date: February 4, 2011

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

Debtor's Counsel: John L. Smaha, Esq.
                  SMAHA LAW GROUP, APC
                  7860 Mission Center Court, Suite 100
                  San Diego, CA 92108
                  Tel: (619) 688-1557
                  Fax: (619) 688-1558
                  E-mail: jsmaha@smaha.com

Scheduled Assets: $5,090,157

Scheduled Debts: $7,870,451

A list of the Company's 19 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/casb11-01885.pdf

The petition was signed by Helen Rebmann, secretary and treasurer.


MORTGAGE INTERNET: Chapter 11 Case Transferred to Utah
------------------------------------------------------
The venue of the Chapter 11 case of Santa, Clara-based Utah
Mortgage Internet Technologies has been transferred to the U.S.
Bankruptcy Court for the District of Utah (Bankr. D. Utah Case No.
11-21355).

Judge Linda B. Riegle of the U.S. Bankruptcy Court for the
District of Nevada signed an order transferring the case on
Jan. 19, 2011.  The transfer was made effective Feb. 4.

Mortgage Internet filed for Chapter 11 protection on July 29, 2010
(Bankr. D. Nev. Case No. 10-24313).

The Debtor estimated less than $1 million in assets and debts as
of the Petition Date.  See http://bankrupt.com/misc/nvb10-
24313.pdf

The Debtor is represented by:

     Nikoll Nikci, Esq.
     3651 Lindell Road, Suite D
     Las Vegas, NV 89103
     Tel: (702) 943-0269
     Fax: (702) 943-0233
     E-mail: nnikci@gmail.com


MORTGAGES LTD: Rev-Op Group's Appeal to Grace Accord Already Moot
-----------------------------------------------------------------
District Judge Mary H. Murguia dismissed, at ML Manager LLC's
behest, the Rev-Op Group's appeal of a bankruptcy court order
approving settlements with so-called Grace Entities in Mortgages
Ltd.'s bankruptcy case.  The District Court held that the appeal
is moot because the appellants failed to obtain a stay of the
bankruptcy order and because the transactions that have transpired
as a result cannot be unraveled.

Mortgages Limited once held a $900 million portfolio of loans and
had over 1800 investors.  Investors in Mortgages Ltd. owned
fractional interests in promissory notes and deeds of trust.
Investors entered agreements with Mortgages Ltd. prior to making
these investments.  Because investors had fractional interests in
the various mortgages, when borrowers defaulted and the properties
were foreclosed upon, investors became part owners of properties
as tenants in common with other investors who had interests in the
same loan.

Mortgages Ltd. was the subject of an involuntary Chapter 7
petition dated June 20, 2008, filed by KGM Builders Inc. -- a
contractor for Grace Communities, a borrower of the company --
in the U.S. Bankruptcy Court for the District of Arizona.
Central & Monroe LLC and Osborn III Partners LLC, divisions of
Grace Communities, sought the appointment of an interim trustee
for Mortgages Ltd. in the Chapter 7 proceeding.

Mortgages Ltd. faced lawsuits filed by Grace Communities and
Rightpath Limited Development Group for its alleged failure to
fully fund loans.  Mortgages Ltd. denied the charges.

The Debtor's case was converted to a chapter 11 proceeding on
June 24, 2008 (Bankr. D. Ariz. Case No. 08-07465).  Judge Sarah
Sharer Curley presided over the case.  Carolyn Johnsen, Esq., and
Bradley Stevens, Esq., at Jennings, Strouss & Salmon P.L.C.,
replaced Todd A. Burgess, Esq., at Greenberg Traurig LLP, as
counsel to the Debtor.  As of December 31, 2007, the Debtor had
total assets of $358,416,681 and total debts of $350,169,423.

Mortgages Ltd. was reorganized pursuant to a plan that was
confirmed by the Bankruptcy Court on March 20, 2009.  As part of
the Plan, ML Manager LLC was created to manage and operate the
loans in the portfolio.  The original investors for the most part
transferred their interests to 49 separate Loan LLC's.  A number
of investors, referred to as "pass through investors" did not
transfer their interests.  As part of the Plan, ML Manager took
out $20 million in exit financing to help keep the company afloat
during the reorganization.

After confirmation of the Plan, a dispute arose regarding the
agency authority of ML Manager to take action on behalf of "pass
through investors."  A group of "pass through investors" referred
to as the Rev Op Group took the position that ML Manager cannot
sell property in which Rev Op Group members have an interest
without the Rev Op Group's approval and consent.  ML Manager
asserted that it had the agency power to sell property in which
Rev Op investors have an interest without their consent.  This
conflict has lead to a number of disputes within the bankruptcy
court as well as a number of appeals of Bankruptcy Court orders
currently pending before the District Court.

The Grace Entities were a group of affiliated borrowers who
obtained six loans from Mortgages Ltd. to develop five separate
projects.  Like other Mortgages Ltd. loans, interests in the Grace
Entity loans were sold to various investors, including members of
the Rev-Op Group.  The Grace Entities alleged that Mortgages Ltd.
had caused them to incur substantial damages due to its failure to
fully and timely fund those loans and two of the Grace Entities
filed the initial involuntary bankruptcy petition against
Mortgages Ltd. in June 2008.  The Grace Entities participated in
the bankruptcy proceedings and initially objected to the
reorganization Plan.  Their objections, however, were resolved by
an agreement that ML Manager would mediate and if necessary
arbitrate the claims with the Grace Entities loans.

A copy of the District Court's January 31, 2011 order is available
at http://is.gd/G0IbjYfrom Leagle.com.


MYSPACE INC: News Corp. Taps Allen & Co. to Advise on Options
-------------------------------------------------------------
The Wall Street Journal's Emily Steel and Russell Adams report
that News Corp. has hired Allen & Co. to advise on "possible deal
opportunities for Myspace," the investment bank said.

The Journal reports that, according to people familiar with the
matter, News Corp.'s early talks to sell Myspace have focused on
deals in which the conglomerate would retain a stake in the
struggling social-media and entertainment Web site.

Sources told the Journal that News Corp. executives are holding
informal talks about a handful of options:

     -- News Corp. would combine Myspace with another site,
        possibly in gaming or social networking, in exchange for
        cash and equity in the merged company; or

     -- News Corp. executives also have talked to private-equity
        and venture-capital firms about taking over the business
        and setting aside stakes for News Corp. and employees of
        the reorganized site.

The sources said News Corp. and Myspace said no formal discussions
with investment or acquisition partners have been held.

According to the Journal, people familiar with the matter said
News Corp. is interested in the revenue potential of online games
and see Myspace as a gateway to avid game players.

Myspace is a social networking Web site headquartered in Beverly
Hills, California.


NATHAN REUTER: 8th Cir. BAP Says Debtor Violated Securities Law
---------------------------------------------------------------
WestLaw reports that a bankruptcy court did not clearly err in
finding that an individual Chapter 11 debtor had "offered to sell"
unregistered securities in violation of the Missouri Uniform
Securities Act, thereby providing a basis to except the resulting
debt from discharge as one for his violation of state securities
law, despite debtor's contention that, in touting an investment
opportunity available through his firm as an exclusive, high-yield
investment with high rates of return and no risk to initial
investment, he was not making an offer to sell, but was simply
announcing an investment opportunity, and that it was up to the
firm's clients to decide whether to participate therein.  The
debtor met with prospective investors, fielded questions, and
offered numerous assurances, and did not simply sit on the side-
lines while the investments were being sold through his firm.  In
re Reuter, ---B.R.----, 2011 WL 285198 (8th Cir. BAP (Mo.)).

A copy of the ruling from the United States Bankruptcy Appellate
Panel for the Eighth Circuit, filed Jan. 31, 2011, is available at
http://is.gd/FmvjOSfrom Leagle.com.  The ruling affirms the
Bankruptcy Court's decisions, In re Reuter, 427 B.R. 727, 2010 WL
1543715 (Bankr. W.D. Mo. 2010), denying confirmation of the
Debtor's Chapter 11 plan, granting a group of creditors' motion to
convert the case to Chapter 7, and entering judgment in favor of
the creditors on certain dischargeability claims raised in an
adversary proceeding.

Nathan Paul Reuter sought Chapter 11 protection (Bankr. W.D. Mo.
Case No. 07-21128) on July 27, 2007; is represented by James F. B.
Daniels, Esq., at McDowell Rice Smith & Buchanan, P.C.; and
estimated less than $1 million in assets and more than $1 million
in debts at the time of the filing.


NORTH GEORGIA BANK: Closed; BankSouth Assumes All Deposits
----------------------------------------------------------
North Georgia Bank of Watkinsville, Ga., was closed on Friday,
February 4, 2011, by the Georgia Department of Banking and
Finance, which appointed the Federal Deposit Insurance Corporation
as receiver.  To protect the depositors, the FDIC entered into a
purchase and assumption agreement with BankSouth of Greensboro,
Ga., to assume all of the deposits of North Georgia Bank, except
certain brokered and Internet deposits.

The two branches of North Georgia Bank will reopen during normal
banking hours as branches of BankSouth.  Depositors of North
Georgia Bank will automatically become depositors of BankSouth.
Deposits will continue to be insured by the FDIC, so there is no
need for customers to change their banking relationship in order
to retain their deposit insurance coverage up to applicable
limits.  Customers of North Georgia Bank should continue to use
their existing branch until they receive notice from BankSouth
that it has completed systems changes to allow other BankSouth
branches to process their accounts as well.

As of December 31, 2010, North Georgia Bank had around $153.2
million in total assets and $139.7 million in total deposits.
BankSouth agreed to purchase approximately $123.9 million of the
failed bank's assets, including all of the loans.  The FDIC will
retain the remaining assets for later disposition.

BankSouth will purchase all of the deposits of North Georgia Bank,
except those from certain deposit brokers and those placed over
the Internet.  The FDIC will pay brokers directly for the amount
of their funds.  Customers who placed money with the deposit
brokers should contact them directly for more information.
Internet deposit customers will receive a check from the FDIC for
the amount of their funds and may contact the FDIC at the toll-
free number below for additional information.

Customers who have questions about the transaction can call the
FDIC toll-free at 1-866-782-1897.  Interested parties also can
visit the FDIC's Web site at

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

The FDIC and BankSouth entered into a loss-share transaction on
$120.1 million of North Georgia Bank's assets.  BankSouth will
share in the losses on the asset pools covered under the loss-
share agreement.  The loss-share transaction is projected to
maximize returns on the assets covered by keeping them in the
private sector.  The transaction also is expected to minimize
disruptions for loan customers.  For more information on loss
share, please visit:

http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

The FDIC estimates that the cost to the Deposit Insurance Fund
will be $35.2 million.  Compared to other alternatives,
BankSouth's acquisition was the least costly resolution for the
FDIC's DIF.  North Georgia Bank is the thirteenth FDIC-insured
institution to fail in the nation this year, and the fourth in
Georgia.  The last FDIC-insured institution closed in the state
was American Trust Bank, Roswell, earlier on February 4, 2011.


OAKLAND MUNICIPAL CREDIT: DFI Orders Closure and Liquidation
------------------------------------------------------------
The California Department of Financial Institutions announced that
Oakland Municipal Credit Union was closed and ordered to be
liquidated, citing inadequate capital.  Oakland Municipal is a
federally insured, state-chartered credit union based in Oakland.

Oakland Municipal's member deposits are safe.  Member accounts are
federally insured for up to $250,000 per depositor by the National
Credit Union Share Insurance Fund, administered by the National
Credit Union Administration.

The NCUA was appointed the liquidating agent of Oakland Municipal
by the DFI.  The NCUA has arranged the transfer of Oakland
Municipal's member share accounts to Western Federal Credit Union.

California's financial institutions are symbols of safety and
soundness. Maintaining the integrity of financial services remains
the primary mission of the DFI.  The DFI oversees the secure
operation of California's state-chartered financial institutions.
DFI ensures public confidence in financial institutions by
protecting the interests of depositors, borrowers, shareholders
and consumers through enforcement of state laws.  In addition to
posting information about the Department and its licensees, DFI's
website features consumer tips on a variety of financial topics
and consumer brochures in seven languages.

The DFI reports to Traci Stevens, Acting Undersecretary of the
Business, Transportation and Housing Agency and Governor Edmund G.
Brown Jr.


OXIGENE INC: To Sell Additional $4.79-Mil. of Common Shares
-----------------------------------------------------------
On January 31, 2011, OXiGENE, Inc. filed a prospectus supplement
to its shelf registration statement on Form S-3 previously filed
with the Securities and Exchange Commission relating to the sale
of an additional $4,790,000 of OXiGENE common stock from time to
time pursuant to the At Market Issuance Sales Agreement, dated
July 21, 2010, by and between OXiGENE and McNicoll, Lewis & Vlak
LLC, as Agent.  The Company previously filed with the SEC a
prospectus supplement dated July 21, 2010 relating to the sale of
14,250,000 shares of common stock pursuant to the Agreement.  As
of January 31, 2011, shares of common stock in an aggregate
offering amount of $4,285,643 have been sold under the July 21,
2010 prospectus supplement, and no further sales of shares will be
made under that prospectus supplement.  Sales of common stock
under the January 31 prospectus supplement will be made from time
to time as market conditions warrant, in the Company's discretion.

A copy of the opinion of Mintz, Levin, Cohn, Ferris, Glovsky and
Popeo, P.C., relating to the legality of the shares, is available
for free at http://ResearchArchives.com/t/s?72b6

The Company's common stock is listed on The NASDAQ Global Market
under the symbol "OXGN."  On December 28, 2010, the last reported
sale price of the Company's common stock was $0.26 per share, and
on January 28, 2011, the last reported sale price of the Company's
common stock was $0.20.  The market value of the Company's
outstanding common equity held by non-affiliates as of January 31,
2011 was approximately $27,200,000, based on 133,150,117 shares of
outstanding common stock, of which 104,855,843 were held by non-
affiliates, and based on the closing sale price of the Company's
common stock on December 28, 2010 of $0.26.

Sales of shares of the Company's common stock under this
prospectus, if any, may be made in privately negotiated
transactions or any other method permitted by law, including sales
deemed to be an "at the market" offering as defined in Rule 415
under the Securities Act of 1933, as amended, which includes sales
made directly on the NASDAQ Global Market, the existing trading
market for the Company's common stock, or sales made to or through
a market maker other than on an exchange.  The sales agent will
make all sales using commercially reasonable efforts consistent
with its normal trading and sales practices, on mutually agreeable
terms between the sales agent and the Company.

Unless the Company and its sales agent otherwise agree, the
Company will pay its sales agent a commission fee of up to 7% of
each sale of common stock to be sold pursuant to this prospectus.
Any other fee arrangement or commission amount to be received by
the sales agent will be disclosed in a separate prospectus
supplement for such shares.  The net proceeds to the Company that
it receives from sales of its common stock will depend on the
number of shares actually sold and the offering price for those
shares.  Based on the trading price of the Company's common stock,
its current public float and the absence of a minimum offering
amount provided for under the sales agreement, the Company may not
be able to raise the full $4,790,000 in gross proceeds
contemplated by this prospectus supplement.  The actual proceeds
to the Company will vary.

In connection with the sales of common stock on the Company's
behalf, the sales agent will be deemed an "underwriter" within the
meaning of the Securities Act of 1933, as amended, and the
compensation of the sales agent will be deemed to be underwriting
commissions or discounts.  The Company has agreed to provide
indemnification and contribution to the sales agent against
certain liabilities, including liabilities under the Securities
Act of 1933, as amended.

A full-text copy of the prospectus supplement to the prospectus
dated Dec. 1, 2008, is available for free at
http://ResearchArchives.com/t/s?72b5

                         About OXiGENE Inc.

South San Francisco, Calif.-based OXiGENE (Nasdaq: OXGN)
-- http://www.oxigene.com/-- is a clinical-stage
biopharmaceutical company developing novel therapeutics to treat
cancer and eye diseases.

The Company's balance sheet at September 30, 2010, showed
$7.7 million in total assets, $15.2 million in total liabilities,
and a stockholders' deficit of $7.5 million.

As reported in the Troubled Company Reporter on March 22, 2010,
Ernst & Young LLP, in Boston, expressed substantial doubt about
the Company's ability to continue as a going concern, following
its 2009 results.  The independent auditors noted that the Company
has incurred recurring operating losses and will be required to
raise additional capital, alternative means of financial support,
or both, prior to January 1, 2011, in order to sustain operations.


PALATIN TECHNOLOGIES: Compliance Plan Accepted by NYSE Amex
-----------------------------------------------------------
Palatin Technologies, Inc. reported that its exchange listing
compliance plan has been accepted by the NYSE Amex.  Palatin has
been granted an extension until May 26, 2011 to regain compliance
with stockholders' equity requirements under Section 1003(a)(iii)
of the NYSE Amex Company Guide and until February 28, 2011 to
regain compliance with financial condition continued listing
requirements under Section 1003(a)(iv).

On November 23, 2010, Palatin received notice from the NYSE Amex
staff indicating that it was below certain continued listing
requirements due to stockholders' equity of less than $6,000,000
with losses in its five most recent fiscal years, as set forth in
Section 1003(a)(iii) of the NYSE Amex Company Guide, and also due
to impaired financial condition, as set forth in Section
1003(a)(iv).

Palatin submitted a plan for regaining compliance to the NYSE Amex
on December 23, 2010. On January 31, 2011 the NYSE Amex notified
Palatin that it accepted the plan for regaining compliance, and
granted extensions to regain compliance with continued listing
standards.  Palatin will be subject to periodic review by NYSE
Amex staff during the extension period. Failure to make progress
consistent with the plan or to regain compliance with the
continued listing standards by the end of the extension periods
could result in Palatin being delisted from the NYSE Amex.

               About Palatin Technologies, Inc.

Palatin Technologies, Inc. -- http://www.palatin.com/-- is a
biopharmaceutical company dedicated to the development of peptide,
peptide mimetic and small molecule agonists with a focus on
melanocortin and natriuretic peptide receptor systems.  Palatin's
strategy is to develop products and then form marketing
collaborations with industry leaders in order to maximize their
commercial potential.


PALUDA, INC.: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Paluda, Inc.
          dba La Reina Carniceria y Supermercado
              La Reina Supermarket
        5851 Lake Worth Road, Suite A
        Greenacres, FL 33463

Bankruptcy Case No.: 11-12841

Chapter 11 Petition Date: February 2, 2011

Court: U.S. Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Erik P. Kimball

Debtor's Counsel: Craig I. Kelley, Esq.
                  KELLEY & FULTON, P.L.
                  1665 Palm Beach Lakes Boulevard, #1000
                  West Palm Beach, FL 33401
                  Tel: (561) 491-1200
                  E-mail: cik@kelleylawoffice.com

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

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

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/flsb11-12841.pdf

The petition was signed by Luis G. Arango, president.

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Paluda 2, Inc.                        11-12842            02/02/11


PALUDA 2: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: Paluda 2, Inc.
          dba Farmer's Market Plaza
        5851 Lake Worth Road, Suite A
        Greenacres, FL 33463

Bankruptcy Case No.: 11-12842

Chapter 11 Petition Date: February 2, 2011

Court: U.S. Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Paul G. Hyman, Jr.

Debtor's Counsel: Craig I. Kelley, Esq.
                  KELLEY & FULTON, P.L.
                  1665 Palm Beach Lakes Boulevard, #1000
                  West Palm Beach, FL 33401
                  Tel: (561) 491-1200
                  E-mail: cik@kelleylawoffice.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/flsb11-12842.pdf

The petition was signed by Luis G. Arango, president.

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Paluda, Inc.                          11-12841            02/02/11


PFF BANCORP: Judge Approves $3M Settlement in ERISA Action
----------------------------------------------------------
Bankruptcy Law360 reports that a bankruptcy judge has signed off
on a $3 million dollar settlement that resolves a class action
accusing PFF Bancorp Inc. of violating the Employee Retirement
Income Security Act by imprudently investing pension plan funds in
its own stock.

                         About PFF Bancorp

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

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

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


PHILADELPHIA RITTENHOUSE: IStar Asks Judge to Toss Out Firm's Case
------------------------------------------------------------------
Dow Jones' DBR Small Cap reports that lender IStar Financial Inc.
is urging a judge to dismiss the bankruptcy proceedings of
Philadelphia Rittenhouse Developer LP, claiming the case was
launched in "bad faith" to try to dodge a state court's
receivership verdict.

According to the report, the mortgage lender, which funneled over
$250 million into the luxury condominium project, accused
Philadelphia Rittenhouse and mezzanine lender Delaware Valley Real
Estate Investment Fund of engineering an 11th-hour bankruptcy
filing to evade a judge's finding that a default had occurred and
that a receiver should take the reins in the business.

"Testing iStar, equated to DVREIF gambling with iStar's money, can
be fine in some circumstances, sometimes even as a litigation
tactic," iStar said in papers filed Wednesday with the U.S.
Bankruptcy Court in Philadelphia.  "But it is not the proper
foundation for filing a Chapter 11 petition."

                About Philadelphia Rittenhouse

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.

Rittenhouse Developer filed for chapter 11 bankruptcy in 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.

Philadelphia Rittenhouse filed a Chapter 11 petition on Dec. 30,
2010 (Bankr. E.D. Pa. Case No. 10-31201).  Albert A. Ciardi, III,
Esq., at Ciardi Ciardi & Astin, P.C., serves as the Debtor's
bankruptcy counsel.  The Debtor estimated its assets and debts at
$100 million to $500 million.  iStar Tara, LLC is represented in
the chapter 11 case by the firm of Blank Rome LLP.


PITTSBURG REDEVELOPMENT: Fitch Cuts $153.1MM Bonds to 'BB+'
-----------------------------------------------------------
Fitch Ratings takes this rating action on Pittsburg Redevelopment
Agency, California as part of its continuous surveillance effort:

  -- $139.9 million tax allocation bonds downgraded to 'A' from
     'A+';

  -- $153.1 million subordinate TABs downgraded to 'BB+' from 'A';

  -- $27.6 million housing set-aside TABs downgraded to 'BBB' from
     'A'.

The Rating Outlook for the subordinate TABs is revised to Negative
from Stable.  The Rating Outlook for the senior TABs and housing
set-aside TABs is Stable.

Rating Rationale:

  -- The downgrade of the subordinate bonds to 'BB+' reflects the
     bonds' inadequate debt service coverage levels resulting from
     a substantial three-year AV loss, a severe slow-down in new
     construction activity, and a very weak economy that may
     continue to weigh on the housing market and AV levels.

  -- The Negative Outlook reflects concerns about the agency's
     ability to extend or replace its letter of credit (LOC) that
     expires in December 2011.  It also reflects concerns that an
     early termination event could be triggered on the agency's
     swap, which would expose the variable rate subordinate TABs
     to interest rate risk, and trigger a substantial termination
     fee that would nevertheless be subordinate to subordinate TAB
     debt service.

  -- The downgrade of the housing bonds to 'BBB' reflects the
     aforementioned weakening of the project area's tax base and
     the narrowing of debt service coverage levels that
     nonetheless remain adequate overall.

  -- The downgrade of the senior bonds to 'A' reflects the
     aforementioned weakening of the project area's tax base.
     However, coverage remains solid, even under a severe Fitch-
     designed stress scenario.

  -- Bondholders benefit from supplemental revenue streams and a
     standard cash-funded debt service reserve fund.
     Additionally, subordinate bondholders benefit from a large
     supplemental cash-funded debt service reserve fund required
     for the duration of the agency's LOC agreement.

  -- The project area benefits from its proximity to Bay Area
     employment centers, its large size, and sound long-term
     growth prospects in spite of currently substantial economic
     weakness.

  -- The local economy is stressed, exhibited by very high
     unemployment levels, a weak tax base, low income levels, and
     vulnerable housing characteristics.

  -- The agency's deferral of its Supplemental Educational Revenue
     Augmentation Fund payment will cause the agency to become
     dormant once current projects are completed.  While the tax
     base may suffer from the cessation of reinvestment
     activities, the agency will be unable to further leverage its
     tax base if growth returns until it makes its SERAF payment.

  -- The governor's proposed fiscal 2012 budget, which seeks to
     eliminate redevelopment agencies statewide, was not a factor
     in the rating, as under the proposed plan the existing debt
     and other contractual obligations would be repaid as they
     come due.

What Could Trigger An Downgrade? (Subordinate Tabs):

  -- The inability to renew or replace the agency's expiring LOC,
     or the prohibitive cost of doing so.

  -- The release of supplemental debt service reserves now
     required under the outstanding LOC as the result of a
     modified or replaced LOC agreement.

  -- Material depletion of available reserves to pay both
     outstanding and contingent liabilities including potential
     swap termination payments.

Key Rating Drivers (Tabs & Housing Set-Aside Tabs):

  -- Current coverage levels are adequate considering the TABs'
     respective rating levels, and Fitch believes they will remain
     adequate even if short-term AV declines somewhat from present
     levels.

  -- The local economy and housing market are pressured by very
     high unemployment.  Their eventual recovery likely will be
     influenced by the timing and degree of employment
     normalization.

Security:

The senior TABs are secured by all tax revenues allocable to the
agency, minus a 20% housing set-aside, and a county administrative
fee.  Subordinate TABs are secured by a first lien on subordinate
pledged tax revenues, which are net tax increment minus senior
debt service.  The subordinate bonds additionally are secured by a
$33.4 million supplemental reserve, required for the life of the
LOC.  The housing TABs are secured a first lien on the 20% housing
set-aside from gross tax increment.  All bonds are also secured by
standard cash-funded debt service reserves.

Credit Summary:

Pittsburg is located in the northeastern portion of Contra Costa
County and situated along the Sacramento-San Joaquin River Delta.
Moderate population growth has been driven by the area's
affordability, availability of developable land, and proximity to
major Bay Area employment centers with good transportation
options.  Nonetheless, the city has been severely affected by the
economic recession.  October unemployment registered a very high
17.1%, and the housing market has been under considerable
pressure.  Reportedly average home prices have lost over half
their peak value, foreclosures make up approximately two-thirds of
homes available for sale, and about 41% of total properties by
assessed valuation (AV) have had their (AV) reduced under
Proposition 8, which will cause AV to be more volatile as market
values fluctuate.  According to Fitch data, over half of non-
agency mortgages are subprime or negatively amortizing,
foreclosure rates remain high, and even higher delinquency rates
suggest continued weakness over the short to intermediate term.

The redevelopment agency's merged project area is a large 5,750
acres, encompassing more than half the city of Pittsburg and about
70% of its AV.  About three-quarters of the project area's AV
consists of residential properties, with the remainder split
commercial and industrial properties, including a major power
plant.  AV is concentrated in the top 10 payers, but concentration
concerns are somewhat mitigated by the essentiality of the top
payer, which is an electricity generator.  Consistent with the
ailing local property market, AV fell by a substantial 15.6%
cumulatively from fiscal 2009-2011, though the rate of decline
slowed to 1.5% in fiscal 2011.

Recent AV losses have lowered Fitch-estimated subordinate debt
service coverage to 1.28 times annual debt service in fiscal 2011.
Subordinate coverage is calculated on the basis of secured net
revenues' (net revenues minus senior TAB debt service) ability to
meet subordinate TAB debt service.  Due to rising senior debt
service costs, Fitch estimates that subordinate coverage would
drop to 0.99x in fiscal 2013, assuming no AV growth.  Although
subordinate debt service coverage is expected to drop to about
1.0x, under a no-growth scenario, housing bonds' coverage would
fall to a still-adequate 1.34x ADS in fiscal 2013 from 1.61x in
fiscal 2009.  Senior debt service coverage, though lower than
anticipated, remains quite strong at 2.66x in fiscal 2013 when
coverage would hit a five-year trough.

Under a more onerous stress scenario, whereby AV declines 20% in
2012, is flat through 2016, and grows 2% annually thereafter,
annual senior TABs coverage would exceed 2.0x.  However, annual
coverage on the subordinate TABs from tax revenues would fall to
.65x in fiscal 2013 and furthermore would exhaust all pledged
reserves by 2020, without consideration of certain supplemental
revenues and non-pledged cash reserves that management could use
to meet debt service.  These non-pledged cash reserves include a
$5 million capital reserve cushion, and a $7.5 million operating
reserve.  Under the same stress provisions, annual coverage for
the housing set-aside TABs would be at least 1.06x.  Given the
general state of the local economy and the high percentage of
nonconforming and distressed properties within the community,
there is a real possibility at least a variation of the stress
scenario could materialize.  Furthermore, it is unclear to what
extent non-pledged cash resources would be employed to satisfy
pass-thru payments, which in turn, would reduce available
resources to subsidize subordinate debt service.

For fiscal 2011, absent supplemental tax increment, Fitch
estimates that tax increment will be insufficient to pay both bond
debt service and subordinate pass-through payments, necessitating
the use of fund balance or other revenues to honor pass-through
agreements.  Additionally, the agency did not make its fiscal 2010
and 2011 state-mandated SERAF payments of $17.4 million and
$3.5 million respectively.  As a result, the agency must become
dormant subsequent to spend-down of bond funds for existing
capital projects.  Until the SERAF payments are made, the agency
cannot issue additional debt or begin new capital projects;
however, the agency will continue to pay debt service on
outstanding bonds.  Also, the 20% housing set-aside requirement
will rise to 25%, though the additional 5% will be subordinated to
debt service.

Fitch believes Pittsburg house prices could continue to fall
moderately from present levels, thus placing additional pressure
on AV and pledged revenues.  If AV continues its descent, debt
service reserves may have to be tapped in spite of other large
cash reserves because major capital expenditures will deplete the
majority of non-debt service reserve funds, and pass-through
payments may necessitate the use of the remainder.  Nonetheless,
it would take a significant AV decline followed by a long period
of below-average AV growth to deplete all debt service reserves.
Currently the subordinate bonds have a $22.6 million standard debt
service reserve and, as a condition of the issuance of an LOC
(backed by State Street and CalSTRS), the agency is required to
hold a supplemental debt service reserve amount of $33.4 million
as long as the LOC is outstanding.  The LOC expires in late 2011.

The agency's debt structure poses a significant credit
vulnerability.  A quarter of subordinate debt ($117 million) is
variable rate, supported by the LOC and hedged by an interest rate
swap.  An inability to extend or replace the agency's LOC likely
would result in conversion of the variable rate bonds to bank
bonds which could raise interest costs on the variable rate debt
to as high as 12%.  At the maximum rate, Fitch estimates annual
debt service costs would rise a net $8.1 million.  Nonetheless,
the absence of accelerated payout provisions in the LOC agreement
means the debt service reserve fund could tolerate drawdowns for
some time, assuming no additional and substantial AV declines.
Fitch will closely monitor developments with regard to the
extension and terms of a renewed or replaced LOC.

Management reported on Jan. 6, 2011 that the agency's interest
rate swap (Piper Jaffray is the counterparty) recently had a
negative value of $12 million and may be terminated if Standard &
Poors or Moodys downgrade the agency's debt to below 'BBB-' or
'Baa3', respectively.  Upon termination, the agency would owe the
termination value (which fluctuates based on interest rates) on a
subordinated basis to debt service.  If forced to pay the
termination value, management noted that cash in project funds
could be used.

Management is considering purchasing subordinate bonds with
approximately $10 million from the supplemental reserve required
by the LOC.  The proposed purchases would include a provision to
replenish the reserve with any excess revenues resulting from
lowered debt service levels.  The intent of the program would be
to increase all-in debt service coverage levels to 1.12x, 1.12x,
and 1.05x in fiscal years 2012, 2013, and 2014, respectively,
assuming no AV growth.  Fitch believes the structure would be
credit-neutral, as the ability to replenish cash reserves could be
impaired if AV declines, resulting in a similar cash drawdown of
reserves upon completion of the bond purchase program as would
have occurred if such a program had not been used.


POLLO WEST: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Pollo West Corp
        5050 Kanan Road
        Agoura Hills, CA 91301

Bankruptcy Case No.: 10-11433

Chapter 11 Petition Date: February 3, 2011

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

Judge: Victoria S. Kaufman

Debtor's Counsel: David B. Shemano, Esq.
                  PEITZMAN, WEG & KEMPINSKY LLP
                  10100 Santa Monica Boulevard, Suite 1450
                  Los Angeles, CA 90067
                  Tel: (310) 552-3100
                  E-mail: dshemano@pwkllp.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/cacb11-11433.pdf

The petition was signed by Michaela Mendelsohn, president.

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Mi Pollo, Inc.                        11-11434            02/03/11


PRIUM SPOKANE: Files Schedules of Assets and Liabilities
--------------------------------------------------------
Prium Spokane Buildings, L.L.C., filed with the U.S. Bankruptcy
Court for the Eastern District of Washington its schedules of
assets and liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $17,000,000
  B. Personal Property               $42,743
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $34,670,532
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                           $53,052
                                 -----------      -----------
        TOTAL                    $17,042,743      $34,723,584

Bellevue, Washington-based Prium Spokane Buildings, L.L.C., filed
for Chapter 11 bankruptcy protection on December 16, 2010 (Bankr.
E.D. Wash. Case No. 10-06952).  Davidson Backman Medeiros PLLC,
represents the Debtor.  There was no creditors committee appointed
in the case.


RENASCENT INC: Plan Provides Payment of Unsecureds in Five Years
----------------------------------------------------------------
Renascent, Inc., submitted to the U.S. Bankruptcy Court for the
District of Montana a proposed Plan of Reorganization and an
explanatory Disclosure Statement.

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

According to the Disclosure Statement, the Plan contemplates a
combination of:

   a. developing and selling of the Debtor's real estate; and

   b. continuing claims against State of Montana and Ravalli
      County, and commencing claims as appropriate, against other
      parties obligated to the Debtor including but not limited to
      Bank of America.

The proposed Chapter 11 Plan will treat claims as:

   -- The Debtor reserves every right to institute an adversary
      proceeding to determine validity and extent of claim of
      Class II secured claim of Thornburg Mortgage Securities
      Trust/BAC Home Loan Financing.  Once filed, there will be no
      payments until the Court determines whether a valid debt is
      owed to this creditor.  In the event there is a final
      determination in favor of this creditor, the amount of the
      debt will be paid with 4% per annum interest only monthly
      payments with a balloon payment at five years after
      confirmation of the Chapter 11 Plan.  In the event the
      collateral securing the loan is sold, the creditor will be
      paid in full if determination is made the creditor has a
      valid lien.

   -- Secured claims of Farmers State Bank, Rebecca De Silva,
      Melahn Family Trust, and Ruth Havican will be paid with 4%
      per annum interest only monthly payments to begin 180 days
      after confirmation of the Chapter 11 Plan.

   -- The Debtor will pay unsecured creditors whose claims are
      allowed plus accruing interest at 4% per annum with four
      annual interest only payments commencing one year after Plan
      confirmation.  The remaining balance of all unsecured claims
      and any accrued interest will be paid in full through a
      balloon payment at five years after the Plan confirmation
      date.

   -- All creditors with claims of $500 will be paid in full
      180 days after the confirmation.  In addition, all creditors
      with claims exceeding $500 that agree to accept $500 in
      satisfaction of their claims will also be paid in full 180
      days after the confirmation.

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

                        About Renascent, Inc

Victor, Montana-based Renascent, Inc., filed for Chapter 11
protection on September 29, 2010 (Bankr. D. Mont. Case No. 10-
62358).  Jon R. Binney, Esq., who has an office in Missoula,
Montana, represents the Debtor.  David Markette and Dustin
Chouinard as serves as the Debtor's special counsel.  There was no
official committee appointed in the Debtor's case.  The Company
disclosed $13,131,199 in assets and $7,278,420 in liabilities as
of the Chapter 11 filing.


RESIDENTIAL CAPITAL: Hiked by Fitch to 'B' After $575MM Profit
--------------------------------------------------------------
Fitch Ratings has upgraded these ratings for Residential Capital
LLC:

  -- Long-term IDR to 'B' from 'D';
  -- Short-term IDR to 'B' from 'D';
  -- Senior unsecured to 'CCC/RR6' from 'C'.

Fitch has also affirmed ResCap's short-term debt at 'C'.  The
Rating Outlook is Stable.

The rating actions are in conjunction with Fitch's rating action
on ResCap's parent, Ally Financial Inc.  The ratings primarily
reflect the implicit support and linkage with Ally, demonstrated
by close business integration, inter-company credit lines and
capital contributions made by Ally to date.  The ratings also
reflect actions taken by the company to reduce its legacy mortgage
exposure, improvement in earnings and capital levels compared to
prior levels.  However, current ratings are constrained by the
continued weak fundamental profile of ResCap, as well as the lack
of ongoing formal commitments or assurances from Ally for future
funding or capital support.

Fitch had lowered ResCap's ratings in June 2008, following the
company's debt exchange offer.  ResCap was severely affected by
the housing and capital markets dislocation that started in 2007.
From 2006 to 2009, the company reported over $12 billion in net
losses.  The company has received significant capital
contributions from Ally ($2.6 billion in 2008 and $4.0 billion in
2009).  These capital contributions were made through
contributions and forgiveness of ResCap's outstanding notes, which
Ally had previously purchased through the open market at a
discount or through its private debt exchange and cash tender
offers.  The company did not require any capital support from Ally
in 2010.

Since 2008, Ally has taken significant steps to de-risk ResCap,
including write-downs, asset/loan sales, and settlement on rep and
warranty claims with government sponsored enterprises.  ResCap's
balance sheet continues to shrink and was $20 billion at Sept. 30,
2010, down considerably from $58 billion in 2008.  The company
reported net income of $575 million for 12 months ended Dec. 31,
2010, compared to a loss of $4.5 billion in 2009.  Net revenues
were down year-over-year, in line with the shrinkage in balance
sheet but earnings improved primarily due to actions and charges
taken in 4Q'09, which led to lower provision for loan losses in
2010.  Tangible net worth as of Dec. 31, 2010 was $846 million,
which is greater than the $250 million minimum required under its
credit facilities.

As of Dec. 31, 2010, ResCap had a primary servicing book of
$367 billion, making it the fifth largest servicer in the U.S.
Although, the settlements with the GSEs have reduced a
significant portion of repurchase risk, the company is still
exposed to potential claims on its non-GSE portfolio.  Significant
repurchases could adversely impact liquidity and capital levels.
ResCap is currently adequately reserved in light of outstanding
claims, but if repurchases were to dramatically increase, the
company would probably require additional capital support.

The Recovery Rating of 'RR6' on the senior unsecured debt reflects
Fitch's view of poor recovery prospects for unsecured creditors as
a significant portion of asset base is currently encumbered to the
secured creditors.

The Stable Outlook reflects Fitch's expectation that ResCap will
continue to take actions to manage its legacy mortgage exposure,
maintenance of adequate earnings, capital and liquidity.  Ratings
could be downgraded if higher than expected losses from rep and
warranty charges or credit provisions were to impact tangible
capital and cause the company to trip the minimum net worth
covenant, and/or if there was an indication by the parent that it
would no longer provide capital/funding support to the company.
Upward rating momentum would be dependent on a continued material
improvement in credit fundamentals or more explicit support
provided by its parent.

ResCap is a wholly owned subsidiary of GMAC Mortgage Group, LLC,
which is a wholly owned subsidiary of Ally.  Through its core
origination and servicing business, the company originates,
purchases, sells, securitizes, and services residential mortgage
loans in the U.S.


RMV MARINA: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: RMV Marina, LLC
        280 Ocean Avenue
        Sea Bright, NJ 07760

Bankruptcy Case No.: 11-13094

Chapter 11 Petition Date: February 3, 2011

Court: U.S. Bankruptcy Court
       District of New Jersey (Trenton)

Judge: Raymond T. Lyons, Jr.

Debtor's Counsel: Joseph Casello, Esq.
                  COLLINS, VELLA & CASELLO
                  1451 Highway 34 South, Suite 303
                  Farmingdale, NJ 07727
                  Tel: (732) 751-1766
                  Fax: (732) 751-1866
                  E-mail: jcasello@cvclaw.net

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

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

The Company did not file a list of creditors together with its
petition.


ROBERT BRENNAN: NJ Attorney General Wants to Re-Open Case
---------------------------------------------------------
Neil Hartnell at The Tribune reports that Anna Lascurain, the New
Jersey deputy attorney general, appeared before the state's
federal bankruptcy court to argue that the former Chapter 11
bankruptcy case of $75 million fraudster, Robert Brennan, be re-
opened with a view to recovering the assets held in the Cardinal
Trust.

According to The Tribune, the attorney general moved to re-open
the case in a bid to seize the estimated $6.4 million held in a
trust looked after by a leading Bahamian attorney, who she alleges
has "failed and refused to repatriate" the trust assets to the
U.S.

The report relates the trustee is Queensway Trustees, and Ms.
Lascurain alleged that it, "through its attorney-in-fact, Michael
Paton, has failed and refused to repatriate to the United States
and this court's jurisdiction the assets of the Cardinal Trust".
In her affidavit, she claimed that Queensway Trustees, a St Kitts
and Nevis Corporation, became Cardinal's trustee on May 1, 1998,
and that on July 14 that year, the latter's assets were
transferred to it.

Robert E. Brennan is a former Brielle and Colts Neck, New Jersey,
resident who sold penny stocks through the now defunct First
Jersey Securities.  In 1995, he was ordered to pay the Securities
and Exchange Commission $75 million for defrauding investors.
Mr. Brennan declared bankruptcy two months later without paying
the fine.  He was sentenced to 12 years in federal prison at Fort
Dix for bankruptcy fraud and contempt of court.  He was released
in January this year after almost 10 years in prison.

According to The Star-Ledger, authorities have been trying for
years to access his elusive family trust, an offshore account that
has bounced around Europe, Africa and the Caribbean to avoid
scrutiny.  The trust was valued at $6.4 million in 1998, according
to bankruptcy court records.


ROBERT N LUPO: Judge Won't Recuse Self From Case
------------------------------------------------
Bankruptcy Judge Joan N. Feeney declined a creditor's request to
remove herself from the Robert N. Lupo bankruptcy case.

Lisa Jacobs, who has filed a priority claim in the case, filed
motions to recuse the judge in December 2010, alleging the judge
has conflicts of interest, is biased and prejudiced against the
Debtor, banks, unsecured creditors, and Ms. Jacobs.  Ms. Jacobs
also complains that the judge has not provided her with sufficient
opportunity to answer pleadings, refused her permission to fax
pleadings to the Court, refused to hear her motions, and ruled on
some of her motions without a hearing.  Ms. Jacobs also alleges
that the judge, in effect, has interfered with the sale of
property of the estate by the Chapter 7 Trustee by refusing
potential buyers access to real properties.

In October 2010, Ms. Jacobs sought to remove the Chapter 7 Trustee
and has made serious charges about his fulfillment of his duties.

"The Court concludes that Jacobs's invective is the result of
adverse rulings made against her in the case and that under an
objective test the undersigned's impartiality cannot reasonably be
questioned," Judge Feeney said.  "Jacobs has denounced this Court
for failing to rule in her favor.  This Court has an obligation
not to recuse in light of the unfounded statements made by Jacobs
based upon adverse rulings."

A copy of Judge Feeney's February 1, 2011 Memorandum is available
at http://is.gd/2CvacIfrom Leagle.com.

Weston, Massachusetts-based Robert N. Lupo filed for Chapter 11
bankruptcy protection on December 10, 2009 (Bankr. D. Mass. Case
No. 09-21945).  Andrew G. Lizotte, Esq., at Hanify & King, P. C.,
assists the Debtor in his restructuring effort.  The Debtor
estimated $10 million to $50 million in assets and $1 million to
$10 million in liabilities as of the Petition Date.

The Bankruptcy Court on November 15, 2010, denied Mr. Lupo's
emergency motion to reconsider a prior order converting his case
to Chapter 7 effective September 18, 2010.  This was the Debtor's
third attempt to vacate the Court's conversion of the case to
Chapter 7.


SAINTS MEDICAL: Moody's Cuts Rating on $49 Mil. Bonds to 'B1'
-------------------------------------------------------------
Moody's Investors Service has downgraded to B1 from Ba3 the long-
term bond rating assigned to Saints Medical Center's $49 million
of outstanding bonds issued by the Massachusetts Health &
Educational Facilities Authority.  The rating remains on watch
for further possible downgrade.

Rating Rationale: The downgrade is a result of the termination of
an affiliation agreement with Covenant Health Systems, multi-year
operating losses, continued decline in liquidity balances, and the
uncertainty surrounding a potential payment to the Centers for
Medicare and Medicaid Services.  The rating remains on watch for
further possible downgrade, reflecting Moody's concerns regarding
SMC's ability to find a long-term strategic partner as well as the
uncertainty surrounding the final amount of the settlement with
CMS.

Legal Security: Lien on gross receipts of Saints Memorial Medical
Center; 1.10 times rate covenant; debt service reserve fund.

Interest Rate Derivatives: None.

                            Challenges

* Strategic affiliation agreement with Covenant Health Systems was
  terminated in September 2010, and SMC will be posed with
  tremendous challenges if an alliance with a different partner
  does not occur in the near term

* FY 2010 marked fourth consecutive year of operating losses for
  the system; losses amounted to $4.1 million in FY 2010 and
  $4.0 million in FY 2009 (-2.7% and -2.9% margins, respectively)

* Decline of unrestricted cash and investments to $16.7 million
  (41 days cash on hand) as of fiscal yearend (FYE 2010), down
  from $23.1 million (61 days cash on hand) as of FYE 2009 -- a
  significant decline when compared to the historically higher
  liquidity levels of over 120 days cash on hand reported during
  FY 2000 through FY 2007

* The hospital is highly leveraged with declining liquidity
  measures.  Cash-to-debt dropped to 32.7% at FYE 2010 while debt-
  to-cash flow rose unfavorably to a very high 21.7 times

* Potential Stark Law violation was self-reported by SMC and could
  range between $785 thousand up to $14.5 million in potential
  liabilities (although management notes that it expects the final
  settlement amount to be towards the lower end of the range)

* Very competitive market with Lowell General Hospital (rated
  Baa1/stable); LGH and Saints offer a similar service array and
  most specialists admit to both hospitals

                             Strengths

* Successful recruitment of additional primary care physicians and
  specialists to the hospital's network of primary care practices

* Utilization trends have somewhat stabilized, with combined
  inpatient admissions and observations down only slightly (-0.9%)
  in FY 2010 compared to the prior year; management has focused
  efforts at physician recruitment and making sure inpatient stays
  and observation stays are coded appropriately

* Conservative, fixed-rate only debt structure without any
  existing swaps

* Debt service reserve fund present

                   Recent Developments/Results

The downgrade is the result of a culmination of events that have
posed immense difficulties for SMC.  In September 2010, SMC
announced that its potential strategic partner, Covenant Health
Systems, had elected to end affiliation discussions with SMC.
Covenant was expected to provide $25 million for approved capital
spending, which was critical for SMC in order to be able to
continue making strategic investments in its plant, property, and
equipment.  Without a capital contribution from a strategic
partner, SMC is in the position of funding any capital purchases
(strategic or routine) with operating cash flow.  Liquidity
balances as of FYE 2010 showed material decline from FYE 2009, and
Moody's expects SMC's cash balances to continue to decline if they
are not able to form a definitive strategic partnership in the
near term.  In addition, FY 2010 marked the fourth consecutive
year of operating losses for SMC, and uncertainty remains
regarding a potential payment to the Centers for Medicare and
Medicaid Services that could range between $785 thousand and
$14.5 million.  Management has indicated that it expects the
settlement amount to be at the lower end of this range, but at
this time Moody's cannot express with certainty that the
settlement amount will not have a material impact on SMC's
financial position.

FY 2010 marked yet another challenging year for SMC in terms
of financial performance.  The system generated a loss of
$4.1 million (-2.7% margin) in FY 2010, which was consistent with
the $4.0 million loss (-2.9% margin) also reported in FY 2009.
Operating cash flow was $4.5 million (3.0% margin) in FY 2010,
similar to the $4.5 million (3.3% margin) reported in FY 2009, and
debt to cash flow grew unfavorably to a very high 21.7 times, up
from 20.2 times in FY 2009.  Moody's adjusted maximum annual debt
service (MADS) coverage fell to just 0.81 times in FY 2010, down
from 0.89 times reported the prior year.

An additional significant credit concern is SMC's declining
liquidity balance.  Unrestricted cash and investments fell to
$16.7 million (41 days cash on hand) as of FYE 2010, a 28% decline
from the prior year amount of $23.1 million (61days cash on hand).
97% of SMC's unrestricted cash and investments can be liquidated
in one month or less, and 17% is held as cash, 42% as fixed income
securities, 37% as international and domestic equities, and 3.4%
in hedge funds.  Liquidity declined due to the decline in cash
flow generation, as well as capital expenditures associated with a
new women's center in North Andover and necessary upgrades to
SMC's main campus.  Strategic capital spending is vital for SMC's
ability to compete with Lowell General Hospital, a larger hospital
(217 beds to SMC's 104 beds) with more services.  LGH captures the
leading market share at 32.5% to SMC's 22.2% and has grown market
share over the past year by successfully recruiting physicians
that previously practiced at SMC.  LGH is currently in the process
of constructing a new patient tower which will add an additional
60 rooms to the hospital.

The ability to continue making strategic investments is a key
factor of Moody's rating analysis, and if SMC is unable to find
a partner the hospital will face significant challenges in terms
of access to capital.  SMC is highly leveraged, as evidenced by
32.7% cash to debt, 107% debt to capitalization, 21.7 times
debt to cash flow, and peak annual debt service coverage of
0.81 times, so a debt financing to fund capital projects is
unlikely, and management has no plans to issue additional debt
in the near future.  SMC will likely use operating cash flow and
cash from its balance sheet in order to fund capital needs, which
Moody's expects to result in further erosion to SMC's liquidity
balances.  In addition, SMC's defined benefit pension plan was
underfunded (60% funding level) with a balance sheet liability of
$19.0 million as of FYE 2010.  Although SMC's pension plan is a
Church Plan and not subject to ERISA funding requirements,
management anticipates making annual contributions over the next
several years in order to bring the plan back to a more adequately
funded level.

                              Outlook

The rating remains on watch for further possible downgrade,
reflecting Moody's concerns regarding SMC's ability to find a
long-term strategic partner and maintain current levels of
unrestricted cash and investments, as well as the uncertainty
surrounding the final amount of the settlement with CMS

                What could change the rating -- Up

Improvement in financial performance and cash flow generation;
growth of unrestricted cash to historical levels allowing the
hospital to pursue additional strategic investment; a rating
upgrade is unlikely in the near term

               What could change the rating -- Down

Additional decline of unrestricted cash and investments; loss of
additional physicians or market share; further erosion to
financial performance; a large

                          Key Indicators

Assumptions & Adjustments:

  -- Based on financial statements for Saints Health System, Inc.

  -- First number reflects audit year ended September 30, 2009

  -- Second number reflects draft audit year ended September 30,
     2010

  -- Investment returns normalized at 6% unless otherwise noted

* Inpatient admissions: 6,290; 6,480

* Total operating revenues: $139.6 million; $149.7 million

* Moody's-adjusted net revenue available for debt service:
  $6.0 million; $5.5 million

* Total debt outstanding: $54.5 million; $51.2 million

* Maximum annual debt service (MADS): $6.8 million; $76.8 million

* MADS Coverage with reported investment income: 0.44times; 0.88
  times

* Moody's-adjusted MADS Coverage with normalized investment
  income: 0.89 times; 0.81 times

* Debt-to-cash flow: 20.2 times; 21.7 times

* Days cash on hand: 61.0 days; 41.2 days

* Cash-to-debt: 42.4%; 32.7%

* Operating margin: -2.9%; -2.7%

* Operating cash flow margin: 3.3%; 3.0%

Rated Debt (Debt Outstanding As Of September 30, 2010):

  -- Series 1993A; Fixed Rate ($48.9 million outstanding) rated B1

The last rating action with respect to the Saints Medical Center
was on October 15, 2010, when the rating was put on watch for
possible downgrade.


SAVERS INC: Moody's Affirms 'B1' Corporate Family Rating
--------------------------------------------------------
Moody's Investors Service affirmed the B1 corporate family and
B2 probability of default ratings for Savers, Inc., and assigned
a Ba3 rating to its proposed $460 million senior secured term
loan.  Savers intends to use proceeds primarily to refinance
approximately $323 million of its outstanding term loan and to
fund the acquisition of 18 stores from Apogee, a thrift store
operator owned by Golden Gate Capital.  The transaction increases
debt-to-EBITDA to the high 5 times range from approximately
5.4 times (as per Moody's standard adjustments, including the
capitalization of operating leases, and for the trailing twelve
months ended October 1, 2010) and leaves the rating weakly
positioned.  However, Moody's anticipates leverage will decline
over time with both EBITDA growth and debt repayment, and the
proposed acquisition increases scale and modestly enhances
geographic diversity.

Savers' shareholders Freeman Spogli & Co. and Savers chairman Tom
Ellison will contribute approximately $20 million of cash equity
to help fund the $180 million purchase price.  In Moody's opinion,
the combination creates minimal integration risk given the
comparable business models, and the Apogee stores to be acquired
are currently profitable.

A summary of the actions:

Savers, Inc.

  -- Affirmed B1 Corporate Family Rating
  -- Affirmed B2 Probability of Default Rating
  -- Senior Secured Bank Credit Facility, Assigned Ba3, LGD2, 29%
  -- Outlook, Stable

                        Ratings Rationale

Please see Moody's January 28, 2011 press release on Savers for
more information.  At that time, Moody's expected Savers would
increase its existing term loan.  The proposed transaction
involves a new term loan with the maturity extended to February
2017 from March 2016.

Savers high leverage (in the high 5 times debt-to-EBITDA range pro
forma for the proposed transaction) positions it weakly for its B1
corporate family rating.  However, given the company's proven
resilience of performance throughout economic cycles, including
consistent same store sales growth, Savers can manage the high
debt load more easily than some of its more volatile retail peers.
Savers remains small relative to other rated retail operators, but
benefits from good growth prospects (revenue rose to approximately
$765 million in 2010, from just under $500 million in 2005).  Good
liquidity, including expectations for positive free cash flow,
supports the rating.

The stable outlook incorporates expectations for successful
integration of the Apogee stores and some debt reduction with
positive free cash flow, which should facilitate a decline in
leverage to the low 5 times range over time.  The purchase
agreement includes a 3 year option for Savers to acquire 12
additional Apogee stores.  A modest increase in debt to fund this
acquisition would not necessarily have negative ratings
implications provided Moody's anticipated continued positive free
cash flow and a return to more appropriate credit metrics over the
intermediate term.

Any operational challenges contributing to an inability to
generate free cash flow or lack of progress on reducing leverage
toward the low 5 times range could result in a negative outlook or
downgrade.  A deterioration of the liquidity profile or sustained
declines in same store sales would also likely negatively impact
the rating.

The weak positioning of the B1 corporate family rating and the
company's lack of scale limit upward ratings momentum.  An upgrade
or positive outlook is highly unlikely absent a transformative
transaction that materially improved both scale and credit
metrics.

The most recent rating action for Savers occurred on January 28,
2011.  At that time Moody's affirmed the B1 CFR.

Headquartered in Bellevue, Washington, Savers, Inc., operates
approximately 250 for-profit thrift stores in the United States,
Canada, and Australia under the Savers, Value Village, and Village
des Valeurs brand names.  Its annual revenue is approximately
$765 million.


SHIVAM BEACH: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Shivam Beach, LLC
          dba Holiday Inn Express - Jax Beach
        1101 Beach Boulevard
        Jacksonville Beach, FL 32250

Bankruptcy Case No.: 11-00712

Chapter 11 Petition Date: February 4, 2011

Court: U.S. Bankruptcy Court
       Middle District of Florida (Jacksonville)

Debtor's Counsel: Buddy D. Ford, Esq.
                  BUDDY D. FORD, P.A.
                  115 N. MacDill Avenue
                  Tampa, FL 33609-1521
                  Tel: (813) 877-4669
                  Fax: (813) 877-5543
                  E-mail: Buddy@tampaesq.com

Scheduled Assets: $7,412,334

Scheduled Debts: $11,235,934

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/flmb11-00712.pdf

The petition was signed by Nilesh Patel, member.


SOCIALWISE INC: Accumulated Losses Prompt Going Concern Doubt
-------------------------------------------------------------
Socialwise, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $1.4 million on $658 of revenues for the
three months ended December 31, 2010, compared with a net loss of
$1.1 million on $491 of revenues for the same period of 2009.

The Company's balance sheet at December 31, 2010, showed
$2.6 million in total assets, $1.3 million in total liabilities,
and stockholders' equity of $1.3 million.

BDO USA, LLP, in La Jolla, California, expressed substantial doubt
about Socialwise, Inc.'s ability to continue as a going concern,
following its results for the fiscal year ended September 30,
2010.  The independent auditors noted that he Company has incurred
net losses since inception and has an accumulated deficit and
stockholders' deficiency at September 30, 2010.

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

               http://researcharchives.com/t/s?72d0

                      About Socialwise Inc.

San Diego, Calif.-base Socialwise, Inc. (OTC BB: SCLW) through its
subsidiary incorporated in the state of California, Socialwise,
Inc. ("Socialwise-CA"), seeks to facilitate online and traditional
retail commerce through payment systems for young people.


SOUTHWEST GEORGIA ETHANOL: Wants Morgan Keegan as Fin'l Advisor
---------------------------------------------------------------
Southwest Georgia Ethanol, LLC, asks for authorization from the
U.S. Bankruptcy Court for the Middle District of Georgia to employ
Morgan Keegan & Company, Inc., as investment banker and financial
advisor, nunc pro tunc to the Petition Date.

Morgan Keegan will, among other things:

     a. assist in the evaluation of the Debtor's business,
        prospects, strategic alternatives and any transaction
        proposed to the Debtor;

     b. evaluate the Debtor's potential debt capacity and
        determine an appropriate capital structure;

     c. structure potential transactions and assist the Debtor in
        the determination of a range of values applicable to the
        Debtor in the context of any transaction; and

     d. identify and screen potential financing sources, and
        assist in arranging, negotiating and closing any financing
        the Debtor chooses to pursue.

Morgan Keegan will be paid:

     a. a one-time engagement fee of $100,000;

     b. a monthly fee of $50,000.

     c. financing fees: (i) the greater of 1.50% of the principal
        amount of new financing for senior secured term debt that
        is accepted by the Debtor or $300,000;  (ii) the greater
        of 3.0% of the principal amount of any new financing for
        any junior debt that is accepted by the Debtor or
        $300,000; (iii) the greater of 3% of the amount of any
        equity investment or equity-linked investment from pre-
        existing equity investors that is accepted by the Debtor
        or $500,000; and (iv) the greater of 6.0% of the amount of
        any new equity investment or equity-linked investment that
        is accepted by the Debtor or $500,000;

     d. a restructuring fee in an amount equal to $1,750,000; and

     e. a divestiture fee equal to the greater of 1.75% of the
        transaction consideration paid in a divestiture or
        $500,000.

Michael G. Lederman, a Managing Director and Head of the Special
Situations Group of Morgan Keegan, assures the Court that the firm
is a "disinterested person" as that term defined in Section
101(14) of the Bankruptcy Code.

                  About Southwest Georgia Ethanol

Southwest Georgia Ethanol LLC, a unit of First United Ethanol Co.,
sought bankruptcy protection (Bankr. M.D. Ga. 11-10145) in Albany,
Georgia, on February 1, 2011.

The Debtor owns and operates an ethanol production facility
located on 267 acres in Mitchell County, Georgia, producing
100 million gallons of ethanol annually.  Ethanol production
operations commenced in October 2008.  Revenue was $168.9 million
for fiscal year ended Sept. 30, 2010.  The Debtor said
profitability and liquidity have been materially reduced by
unfavorable fluctuations in commodity prices for ethanol and corn.

John Michael Levengood, Esq., at McKenna Long & Aldridge LLP, in
Atlanta, Georgia, serves as counsel to the Debtor.  Epiq
Bankruptcy Solutions, LLC, is the claims and notice agent.

The Debtor's balance sheet showed $164.7 million in assets and
$134.1 million in debt as of Dec. 31, 2010.

Bloomberg News notes that since 2008, at least 11 ethanol-related
companies have sought court protection, including VeraSun Energy
Corp., once the second-largest U.S. ethanol maker; units of
Pacific Ethanol Inc.; and White Energy Holding Co.


SPOT MOBILE: Notifies Late Filing of 10-K; Sees $3.43MM Net Loss
----------------------------------------------------------------
On January 31, 2011, Spot Mobile International Ltd. informed the
U.S. Securities and Exchange Commission that it was unable to file
its Form 10-K for the period ended October 31, 2010 within the
prescribed time period given the private placement transaction out
of the ordinary course of business that occurred subsequent to the
period, and, as a result, required additional time to prepare and
review its financial statements.  The Company recently completed
the initial closing of a private placement of its securities and,
accordingly, requires additional time to properly disclose that
transaction in its Form 10-K.  The Company notes that these delays
could not be eliminated by the Company without unreasonable effort
and expense.

Revenue for the fiscal year ended October 31, 2010, was
approximately $16,078,000, compared to revenue of $23,743,000 for
the fiscal year ended October 31, 2009.  The Company estimates net
loss for the fiscal year ended October 31, 2010, to be
approximately $3,426,000, compared to a net loss of $712,000, for
the fiscal year ended October 31, 2009.  The significant change in
revenues reflects changes to the Company's business as it enters
the prepaid mobile telephone market.

                         About Spot Mobile

Spot Mobile, formerly Rapid Link Incorporated --
http://www.rapidlink.com/-- is a telecommunications services
company which, through its wholly owned subsidiary, provides
prepaid telecommunication and transaction based point of sale
activation solutions through 1,000 independent retailers in the
Eastern United States.  The Company also provides long distance
services and plans to expand its product offering to include
mobile and wireless services.

KBA GROUP LLP in Dallas, Texas, expressed substantial doubt about
Rapid Link's ability to continue as a going concern after auditing
the Company's financial statements as of October 31, 2008.  The
auditor noted the Company has suffered recurring losses from
continuing operations during the last two fiscal years.  At
October 31, 2008, the Company's current liabilities exceeded its
current assets by $2.1 million and the Company has a shareholders'
deficit totaling $2.9 million.


SPEEDWAY MOTORSPORTS: Moody's Puts 'Ba1' Rating on $250 Mil. Loan
-----------------------------------------------------------------
Moody's Investors Service assigned a Ba1 rating to Speedway
Motorsports, Inc.'s new $250 million four-year credit facility.
SMI intends to utilize the proceeds from the term loan, revolver
draw downs and the recently completed $150 million senior note
offering to redeem its $330 million 6.75% senior subordinated
notes due 2013 and pay related fees and expenses.  SMI's Ba1
Corporate Family Rating, Ba2 senior unsecured note rating, SGL-3
speculative-grade liquidity rating and stable rating outlook are
not affected, but the refinancing improves the company's
intermediate-term liquidity position by extending maturities.

Assignments:

Issuer: Speedway Motorsports Inc.

  -- Senior Secured Revolver, Assigned a Ba1, LGD4 - 51%
  -- Senior Secured Term Loan, Assigned a Ba1, LGD4 - 51%

                        Ratings Rationale

The new credit facility consists of a $100 million revolver and
$150 million delayed draw term loan.  Moody's expects SMI will
draw the term loan and approximately $60 million on the revolver
as part of the subordinated note redemption.  The January 2015
expiration of the new credit facility and the February 2019
maturity of the new $150 million senior notes result in a
meaningful extension of the maturity profile as the subordinated
notes were to mature in 2013 and the prior credit facility expired
in July 2012.  The refinancings will also favorably reduce annual
cash interest expense by approximately $7 million at a time when
SMI's earnings remain depressed by weakness in consumer and
corporate spending on motorsports.

The financial maintenance covenants were relaxed in the new credit
facility (covenants tighten annually in the fourth quarter), and
Moody's projects the EBITDA cushion will be 10% or higher over the
next 12-18 months.  Moody's believes covenant cushion is only
adequate given the vulnerability of earnings to declines in
motorsports spending.  This is the primary reason the speculative-
grade liquidity rating remains at SGL-3.  The existence of the
term loan and the more significant revolver draw modestly weaken
the company's ability to address potential covenant amendments.
Previously, SMI had sufficient cash to repay the small remaining
revolver draw ($20 million as of 9/30/10), which provided
flexibility to terminate the facility, if necessary, in the
unlikely event it was unable to obtain a covenant amendment.
Moody's projects SMI will generate sufficient free cash flow to
comfortably fund the 10% (or $15 million) required annual term
loan amortization and the company also maintains a sizable cash
balance ($113 million as of 9/30/10) to support liquidity.

The credit facility is guaranteed by operating subsidiaries and
collateralized only by the stock of subsidiaries.  The stock
pledge on the credit facility provides limited support to the
revolver guarantee, and Moody's ranks the credit facility and
senior notes the same in its loss given default notching model.
However, the mandatory pay down of the revolver from 100% of net
asset sale proceeds (subject to a six month reinvestment window)
and the lender control created by financial maintenance covenants
provide protection to the credit facility lenders that is not
afforded to the senior note holders.  If negotiated, the lender's
could get a more comprehensive collateral package as a credit
facility of up to $450 million is a permitted lien within the bond
indenture.

SMI's Ba1 CFR reflects its strong market position within the motor
sports industry, high operating margins, and revenue supported by
entitlements to 13 NASCAR Sprint Cup races and other motor sports
events at SMI's facilities, broadcast rights under NASCAR's
national TV contract that runs from 2007 - 2014, and numerous
multi-year corporate sponsorships.  Admissions, race-day spending,
and more discretionary corporate sponsorships are vulnerable to
cyclical downturns.  SMI's debt-to-EBITDA leverage (3.5x for the
LTM period ended 9/30/10 incorporating Moody's standard
adjustments) is high for the rating and weakly positions the
company within the Ba1 CFR.  In Moody's opinion, the revenue
pressures are largely cyclical and credit metrics are expected to
improve as the economy recovers with debt-to-EBITDA ultimately
declining to a 3x or lower range.  SMI has a moderate revenue
base, event risk related to future leveraging acquisitions and
development projects, and some weak qualitative factors
(shareholder-oriented governance and the willingness to engage in
non-core business activities such as bulk commodity trading) that
constrain the rating to speculative-grade.

The stable rating outlook reflects Moody's expectation that SMI
will continue to generate meaningful free cash flow, reduce debt,
and maintain an adequate liquidity position.  Leverage is expected
to decline over the next 12-18 months as the company continues to
pay down debt and cyclical earnings pressure subsides.

Mitigation of the qualitative risks along with debt-to-EBITDA
sustained below 1.75x and free cash flow-to-debt above 12.5% after
incorporating potential acquisitions and shareholder
distributions, expansion of the revenue base, and a strong
liquidity profile could lead to an upgrade.

Debt-to-EBITDA leverage sustained above a 3x range due to debt-
financed acquisitions, cash distributions to shareholders, major
development projects, or a sustained decline in profitability from
a deterioration in spectator interest in NASCAR or motor sports,
extended cyclical downturn, or decline in fan attendance at
sporting events due to acts of terrorism or other disruption could
negatively affect the rating or outlook.  Pressure on liquidity
including failure to maintain sufficient covenant headroom could
also lead to downward rating pressure.

The last rating action was on January 20, 2011, when Moody's
assigned a Ba2 rating to SMI's proposed $150 million senior
unsecured notes and downgrade the existing unsecured notes to Ba2
from Ba1.

SMI's ratings were assigned by evaluating factors that Moody's
considers relevant to the credit profile of the issuer, such as
the company's (i) business risk and competitive position compared
with others within the industry; (iii) capital structure and
financial risk; (iii) projected performance over the near to
intermediate term; and (iv) management's track record and
tolerance for risk.  Moody's compared these attributes against
other issuers both within and outside SMI's core industry and
believes SMI's ratings are comparable to those of other issuers
with similar credit risk.

SMI, headquartered in Concord, NC, is the second largest promoter,
marketer and sponsor of motor sports activities in the US
primarily through its ownership of eight major race tracks.
NASCAR sanctioned events account for the majority of SMI's
approximate $510 million revenue for the LTM ended 9/30/10.


STERLING ESTATES: Bankr. Court Won't Reverse Cash Denial Order
--------------------------------------------------------------
Bankruptcy Judge Jack B. Schmetterer denied Sterling Estates
(Delaware), LLC's request for the Court to reverse its prior
orders or, alternatively, for a stay pending appeal.  As reported
by the Troubled Company Reporter on January 11, 2011, the Court
denied the Debtor's bid to use cash collateral, granted ORIX
Capital Markets, LLC, relief from the stay, and valued the
Debtor's real estate at $23,600,000.  At that time, Judge
Schmetterer held that the Debtor doesn't have a realistic
reorganization plan in prospect and that the two plan versions it
has proposed violates the absolute priority rule.

In denying the Debtor's request, the Court held that the Debtor
has not demonstrated any error of law or fact.  The Court also
held that the Debtor's motion for stay pending appeal cannot be
considered because no appeal is pending.  The Debtor's motion is
premature and will be dismissed without prejudice to the Debtor
seeking the same relief under Rules 7062 and 8005 Fed. R. Bankr.
P. should it decide to appeal any of the Orders.

The Debtor is indebted under a promissory note held by Banc of
America Commercial Mortgage Inc., Commercial Mortgage Pass-Through
Certificates, Series 2003-2.  Wells Fargo Bank, N.A., is Trustee
for the registered holders of the Trust.  ORIX has demonstrated
its authority to litigate pending contested matters as Special
Servicer, a representative of the Trustee.  The Note matured on
May 1, 2010, and is secured by a lien on substantially all of the
Debtor's property, including the Debtor's real estate, rents, a
master lease, and a management agreement.  According to ORIX's
Proof of Claim, the Debtor owes $36,933,867 in principal and
interest on the Note.

A copy of the Court's February 1, 2011 Opinion is available
at http://is.gd/waAZO2from Leagle.com.

                      About Sterling Estates

Chicago, Illinois-based Sterling Estates (Delaware), LLC, dba
Sterling Estates Manufactured Home Community, owns and operates a
manufactured home community, a park consisting of pre-manufactured
homes placed on individual sites or "pads" that are leased out
to customers.  It filed for Chapter 11 bankruptcy protection on
May 17, 2010 (Bankr. N.D. Ill. Case No. 10-22319).  Eugene Crane,
Esq., at Crane Heyman Simon Welch & Clar, represents the Debtor.
The Company estimated assets at $50 million to $100 million and
debts at $10 million to $50 million.


STEVE PAIGE: Dist. Ct. Says Domain Name is Property of Estate
-------------------------------------------------------------
WestLaw reports that a Chapter 11 debtor exercised dominion or
control over an Internet domain name on the date the bankruptcy
petition was filed and for some time thereafter, such that the
domain name, absent evidence to contrary, was properly regarded as
"property of the estate."  The domain name was registered in
debtor's personal name for a five-year period ending just prior to
the petition date, and the debtor was personally invoiced for the
initial registration and renewal fees, which he paid with his
personal credit card.  Moreover, even after this registration was
transferred to another individual when the debtor entered into a
joint venture agreement, this other individual testified that he
never had any ownership interest therein.  Finally, the debtor
continued to exercise control over the domain name postpetition,
and was treated as its owner by others regardless of who was
listed as the registrant.  In re Paige, --- B.R. ----, 2011 WL
321006 (D. Utah) (Benson, J.!
).

The Honorable Dee Benson's Opinion dated Feb. 1, 2011, a copy of
which is available at http://is.gd/geuwOgfrom Leagle.com, affirms
the Bankruptcy Court's ruling in In re Paige, --- B.R. ----, 2009
WL 2591335 (Bankr. D. Utah).

The Troubled Company Reporter covered the Bankruptcy Court's
ruling concerning a question about whether the Internet domain
freecreditscore.com was property of the Debtor's estate on
October 13, 2009.  As previously reported in the TCR, the
Honorable William T. Thurman received evidence that the Internet
domain name was valued between $350,000 and $25 million (and up to
$200 million) in the course of a 19-day trial in Jubber, et al.,
v. Search Market Direct, Inc., et al. (Bankr. D. Utah Adv. Pro.
No. 06-02299).

Steve Zimmer Paige sought Chapter 7 protection (Bankr. D. Utah
Case No. 05-34474) on Sept. 16, 2005, and the case was
subsequently converted to a Chapter 11 proceeding on Oct. 6, 2006,
after the U.S. Trustee's Office, acting on an anonymous tip from
THIRSTY 4 JUSTICE objected to Mr. Paige's general discharge for
failure to disclose ownership of the domain name in his Schedules
of Assets and Liabilities.  Gary Jubber serves as the Liquidating
Trustee under a joint Chapter 11 plan he and ConsumerInfo.com,
Inc., proposed on May 23, 2007, which was confirmed over Mr.
Paige's objection by Judge Thurman on Oct. 18, 2008.

Search Market Direct, Inc., and Magnet Media, Inc., and
ConsumerInfo.Com purchased substantial numbers of unsecured claims
against Mr. Paige with the clear intention to acquire and use the
freecreditscore.com Internet domain name.

As reported in the Troubled Company Reporter on Nov. 15, 2010, the
U.S. District Court affirmed confirmation of the chapter 11
plan proposed by Gary Jubber, serving the Chapter 11 Trustee, and
ConsumerInfo.com, Inc., on May 23, 2007, and confirmed over Mr.
Paige's objection by Judge Thurman on Oct. 18, 2008.


SUNNYSLOPE HOUSING: Involuntary Chapter 11 Case Summary
-------------------------------------------------------
Alleged Debtor: Sunnyslope Housing Limited Partnership
                  dba Pointe Del Sol Apartments
                730 West Vogel Street
                Phoenix, AZ 85021

Bankruptcy Case No.: 11-02441

Involuntary Chapter 11 Petition Date: Jan. 31, 2011

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

Petitioner's Counsel: Pro Se

Creditor who signed the Chapter 11 petition:

  Petitioners                    Nature of Claim    Claim Amount
  -----------                    ---------------    ------------
Reid Butler                            N/A                N/A
Sunnyslope Housing LLC
340 EAST EARLL DR
PHOENIX, AZ 85012


TAMPA BAY CAR WASH: Case Summary & 13 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Tampa Bay Car Wash & Lube Express LLC
        5143 E. Busch Boulevard
        Tampa, FL 33617

Bankruptcy Case No.: 11-01891

Chapter 11 Petition Date: February 2, 2011

Court: U.S. Bankruptcy Court
       Middle District of Florida (Tampa)

Judge: Michael G. Williamson

Debtor's Counsel: Stanley J. Galewski, Esq,
                  GALEWSKI LAW GROUP PA
                  1112 E. Kennedy Boulevard
                  Tampa, FL 33602
                  Tel: (813) 222-8210
                  Fax: (813) 222-8211
                  E-mail: stan@galewski.com

Scheduled Assets: $1,420,550

Scheduled Debts: $1,050,226

A list of the Company's 13 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/flmb11-01891.pdf

The petition was signed by Odalys Hernandez, president.


T3 MOTION: May Issue Up to $9.2MM in Securities
-----------------------------------------------
T3 Motion, Inc., filed with the Securities and Exchange Commission
Amendment No. 1 to Form S-1 Registration Statement under the
Securities Act of 1933, in connection with its planned issuance of
up to $9,200,000 in Units, each consisting of one share of Common
Stock, $0.001 par value, and one Class H Warrant and one Class I
Warrant.

According to the Company, the Class H warrant entitles the holder
to purchase one share of its common stock at a yet-to-be
determined exercise price, and will expire on [NINE MONTH
ANNIVERSARY OF THE PROSPECTUS].  The Class H warrants cannot be
exercised until three months after issuance.  Each Class I warrant
entitles the holder to purchase one share of its common stock at a
yet-to-be determined exercise price, and will expire on [FIVE-YEAR
ANNIVERSARY OF THE PROSPECTUS].  The Class I warrants cannot be
exercised until three months after issuance.

Immediately prior to the effectiveness of the Registration
Statement, the Company will effect a [_]-for-1 reverse stock
split.  The Company said the assumed public offering price per
unit, assuming a mid point price, is $_____.

The Company also said the shares of common stock and warrants will
trade only as a part of a unit for three months following the
closing of its offering unless earlier separate trading is
authorized by the representative of the underwriters.

Chardan Capital Markets, LLC, serves as representative of the
underwriters.

A full-text copy of Amendment No. 1 is available at
http://is.gd/5Z3zjd

                          About T3 Motion

Costa Mesa, Calif.-based T3 Motion, Inc., develops and
manufactures T3 Series vehicles, which are electric three-wheel
stand-up vehicles that are directly targeted to the public safety
and private security markets.

The Company's balance sheet as of September 30, 2010, showed
$3.81 million in total assets, $16.56 million in total
liabilities, and a stockholders' deficit of $12.75 million.  At
September 30, 2010, the Company has an accumulated deficit of
$40.41 million, a working capital deficit of $14.32 million and a
cash balance of $40,966.

KMJ Corbin & Company LLP, in Costa Mesa, Calif., expressed
substantial doubt about the Company's ability to continue as a
going concern, following the Company's 2009 results.  The
independent auditors noted that the Company has incurred
significant operating losses and had negative cash flows from
operations since inception and at December 31, 2009, has a working
capital deficit of $11.01 million and an accumulated deficit of
$33.06 million.


TOMZILLA, INC: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Tomzilla, Inc
          dba Zilla Lighting for Film
              Tomzilla Production Grip and Lighting
              Peko Systems
              Tomzilla Grip Works
        3038 Summit Circle
        Camarillo, CA 93012

Bankruptcy Case No.: 11-10544

Chapter 11 Petition Date: February 4, 2011

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

Judge: Robin Riblet

Debtor's Counsel: William E. Winfield, Esq.
                  NORDMAN CORMANY HAIR & COMPTON, LLP
                  1000 Town Center Drive, 6th Floor
                  Oxnard, CA 93036
                  Tel: (805) 485-1000
                  E-mail: wwinfield@nchc.com

Scheduled Assets: $1,545,394

Scheduled Debts: $2,656,326

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/cacb11-10544.pdf

The petition was signed by Gary Nepa, president.


TRICO MARINE: Proofs of Claim Must Be Filed By Feb. 24, 2011
------------------------------------------------------------
The Honorable Brendan L. Shannon directs creditors holding claims
that arose against Trico Marine Services, Inc., and its debtor-
affiliates to file their proofs of claim by Feb. 24, 2011.
Governmental units have until Aug. 25, 2011, to file their proofs
of claim.  Further information about the bar date and claim forms
are available at http://dm.epiq11.com/TMG

                        About Trico Marine

Headquartered in Texas, Trico Marine Services, Inc. --
http://www.tricomarine.com/-- provides subsea services, subsea
trenching and protection services, and towing and supply vessels.
Trico sought Chapter 11 protection (Bankr. D. Del. Case No.
10-12653) on Aug. 25, 2010.  John E. Mitchell, Esq., Angela B.
Degeyter, Esq., John Paul K. Napier, Esq., and Harry A. Perrin,
Esq., at Vinson & Elkins LLP, in Dallas, Tex., and Robert J.
Dehney, Esq., Eric Schwartz, Esq. and Andrew R. Remming, at
Morris, Nichols, Arsht & Tunnell LLP in Wilmington, Del.,
represent the Debtor.  Trico disclosed $30.5 million in assets
and $353.6 million in liabilities as of the Petition Date.

Affiliates Trico Marine Assets, Inc. (Bankr. D. Del. Case No.
10-12648), Trico Marine Operators, Inc. (Case No. 10-12649), Trico
Marine International, Inc. (Case No. 10-12650), Trico Marine
Cayman, L.P. (Case No. 10-12651), and Trico Holdco, LLC (Case No.
10-12652) filed separate Chapter 11 petitions.

Cahill Gordon & Reindell LLP is the Debtors' special counsel.
Alix Partners Services, LLC, is the Debtors' chief restructuring
officer.  Epiq Bankruptcy Solutions is the Debtors' claims and
notice agent.  Postlethwaite & Netterville serves as the Debtors'
accountant and Ernst & Young LLP serves as tax advisors.
Pricewaterhousecoopers LLC provides the independent accountants
and tax advisors for the Debtors.

Except for the Cayman Islands holding company, Trico's foreign
subsidiaries were not included in the filing and will not be
subject to the requirements of the U.S. Bankruptcy Code.

The Official Committee of Unsecured Creditors tapped Laura Davis
Jones, Esq., and Timothy P. Cairns, Esq., at Pachulski, Stang,
Ziehl & Jones LLP, in Wilmington, Del., and Andrew K. Glenn,
Esq., David J. Mark, Esq., and Daniel A. Fliman, Esq., at
Kasowitz, Benson, Torres & Friedman LLP, in New York, as counsel.


UNIVERSAL BUILDING: Plan Confirmation Hearing Set for March 8
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware will
convene a hearing on March 8, 2011, at 11:30 a.m., prevailing
Eastern Time, to consider the confirmation of Universal Building
Products, Inc., et al's Plan of Reorganization.

Ballots accepting or rejecting the Plan and any objection to the
confirmation of the Plan are due March 4.

According to the Disclosure Statement, the Plan provides for the
orderly liquidation of substantially all of the Debtors' assets
and the distribution of proceeds.

Subject to the occurrence of the Effective Date, the Debtors and
their estates will be deemed substantively consolidated for voting
and distribution purposes only.  No distributions will be made
under the Plan on account of Intercompany Claims.  The assets and
liabilities of the Debtors will be pooled and all claims will be
satisfied from the assets of a single consolidated estate.

On the Effective Date or immediately prior thereto, a Liquidating
Trust will be created and vested with certain property and the
Liquidating Trust will reduce to cash or otherwise liquidate the
Liquidating Trust Assets and distribute such liquidated assets in
accordance with and subject to the terms and provisions of the
Plan.

The Debtors' senior secured creditor asserts that it will not vote
in favor of the Plan and, therefore, the Plan is not confirmable.
The Debtors, on the other hand, believe that the secured creditor
is bound to support the Plan under prior agreement, and, in any
event, its vote may not be necessary if the Debtors abandon the
senior secured creditors' remaining collateral.  Without the
funding to be provided by the secured creditor, however, the Plan
cannot be effectuated.

According to the Debtors, the Official Committee of Unsecured
Creditors appointed in the Chapter 11 cases supports the Plan.

                        Treatment of Claims

Holders of allowed senior creditor claims will receive in full
satisfaction, settlement, release, and discharge of and in
exchange for allowed senior creditor claims, of the Liquidating
Trust.

Other secured claims will receive 100% on account of their claims.

Holders of allowed unsecured claims will receive a pro rata share
of the transferred property (or the proceeds thereof) remaining
after payment of allowed administrative claims, allowed priority
tax claims, and allowed other priority claims.

A full-text copy of the Disclosure Statement for the Third
Modified Joint Liquidating Plan is available for free at:

  http://bankrupt.com/misc/UNIVERSALBUILDING-3rdModifiedPlan.pdf

                      About Universal Building

Westminster, California-based Universal Building Products, Inc.,
dba UBP, filed for Chapter 11 bankruptcy protection on August 3,
2010 (Bankr. D. Del. Case No. 10-12453).  Mark Minuti, Esq.,
MaryJo Bellew, Esq., and Teresa K.D. Currier, Esq., at Saul Ewing
LLP, represents the Debtor.  UBP estimated $1 million to
$10 million in assets and $10 million to $50 million in debts in
its petition.

The Debtor's affiliates Accubrace, Inc. (Bankr. D. Del. Case No.
10-12454), Don De Cristo Concrete Accessories, Inc. (Case No. 10-
12455), Form-Co, Inc. (Case No. 10-12456), and Universal Form
Clamp, Inc. (Case No. 10-12457), filed separate Chapter 11
petitions on August 4, 2010.  Accubrace estimated $500,001 to
$1 million in assets and $10 million to $50 million in debts.
Universal Form Clamp, Inc, an affiliate, disclosed $62,384,813 in
assets and $50,837,823 in liabilities as of the Chapter 11 filing.

The Garden City Group, Inc., serves as the Debtors' claims and
noticing agent.


UNIVERSAL SOLAR: Amends 2009 Form 10-K to Provide Additional Data
-----------------------------------------------------------------
Universal Solar Technology, Inc., filed on January 31, 2011,
Amendment No. 2 to its annual report on Form 10-K for the fiscal
year ended December 31, 2009, to revise (1) Part II, Item 7.
Management's Discussion and Analysis of Financial Condition and
Results of Operations to provide more details in the disclosures
under the "Liquidity and Capital Resources" section, and (2) Part
II, Item 9A(T). Controls and Procedures to identify additional
weaknesses in the Company's internal control over financial
reporting.

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

               http://researcharchives.com/t/s?72cf

Paritz & Company, P.A., in Hackensack, N.J., expressed substantial
doubt about Universal Solar's ability to continue as a going
concern, following its 2009 results.  The independent auditors
noted that the Company's current liabilities exceeded its current
assets by $4,353,215 and the Company has incurred net loss of
$925,466 since inception.

                      About Universal Solar

Based in Guangdong Province, in the People's Republic of China,
Universal Solar Technology, Inc. was incorporated in the State of
Nevada on July 24, 2007.  It operates through its wholly owned
subsidiary, Kuong U Science & Technology (Group) Ltd., a company
incorporated in Macau, P.R.C. on May 10, 2007.

The Company provides silicon ingots, wafers, high efficiency solar
photovoltaic ("PV") cells modules and other PV application
products in the EU, North America, Asia and Africa.


VALEANT PHARMACEUTICALS: Moody's Puts B1 Rating on $650 Mil. Notes
------------------------------------------------------------------
Moody's Investors Service assigned a rating of B1 to the new
$650 million senior unsecured note issuance of Valeant
Pharmaceuticals International, a subsidiary of Valeant
Pharmaceuticals International, Inc.  At the same time, Moody's
affirmed Valeant's Ba3 Corporate Family Rating, Ba3 Probability
of Default Rating and SGL-1 Speculative Grade Liquidity Rating.
The rating outlook remains positive.

Proceeds of the offering are expected to be used to fund the
recently announced acquisitions of PharmaSwiss S.A. and the U.S.
and Canadian rights to non-ophthalmic Zorivax (from
GlaxoSmithKline), as well as for general corporate purposes.

Ratings assigned to Valeant Pharmaceuticals International:

* B1 (LDG4, 60%) senior unsecured notes

Ratings of Valeant Pharmaceuticals International affirmed (some
with LGD point estimate revisions):

* Ba3 Corporate Family Rating

* Ba3 Probability of Default Rating

* SGL-1 Speculative Grade Liquidity Rating

* B1 (LGD4, 60%) $500 million senior unsecured notes due 2017

* B1 (LGD4, 60%) $700 million senior unsecured notes due 2020

* B1 (LGD4, 60%) $1,000 million senior unsecured notes due 2018

* Senior secured Term Loan A of $1 billion to Baa3 (LGD1, 8%) from
  Baa3 (LGD2, 10%)

* Senior secured revolving credit facility of $125 million to Baa3
  (LGD1, 8%) from Baa3 (LGD2, 10%)

Ratings withdrawn:

* Senior secured Term Loan B of $500 million Baa3 (LGD2, 10%)

* Senior secured Delayed Draw Term Loan of $125 million Baa3
  (LGD2, 10%)

                        Ratings Rationale

Valeant's Ba3 Corporate Family Rating continues to reflect the
benefits of the recent merger of Biovail Corporation and Valeant
including solid size and scale, good product and geographic
diversity, and lack of major patent cliffs relative to other
specialty pharmaceutical companies.  The ratings are somewhat
constrained by integration risks associated with acquisitions,
mixed product utilization trends, and the likelihood of additional
acquisitions.

The rating of B1 (LGD4, 60%) on Valeant's senior unsecured notes
reflects a one-notch differential from a rating of Ba3 rating
indicated by Moody's Loss Given Default template.  The rating
remains B1 because Moody's believes that Valeant's capital
structure could still be subject to change over the near term as
its 4.0% convertible subordinated notes become redeemable at
Valeant's option in May 2011.

The positive rating outlook considers the possibility of a rating
upgrade based on potential improvement in credit metrics.
However, the timing of an upgrade may be more protracted than
Moody's originally expected due to modestly rising financial
leverage since the initial rating assigned in September 2010, and
the delay in receiving FDA approval for Potiga (retigabine).

On a pro forma basis for the impact of the new bond offering and
the acquisitions of PharmaSwiss and Zovirax, Moody's estimates pro
forma Debt/EBITDA of 4.5x (pre-synergies).  Incorporating one-half
of management's $300 million of targeted synergies resulting from
the Biovail merger improves pro forma Debt/EBITDA improves to
3.9x, while including full synergies would result in Debt/EBITDA
of 3.4x.  These numbers are approximately 0.5x higher than Moody's
anticipated in September 2010.  Helping to offset this, Valeant
recently announced a higher target for near-term synergies,
increasing its 2011 synergy target to $250 million from
$200 million.

An upgrade of Valeant's ratings could occur with strong organic
revenue growth, steady realization of cost synergies, and a
successful launch of Potiga.  However, continued increases in
leverage could result in revising the rating outlook to stable
from positive.  Downward rating pressure could result from a
sustained decline in CFO/Debt below 20% or an increase in
Debt/EBITDA above materially above 4.0x.  Such a scenario appears
unlikely in the ordinary course of business but could result from
a significant debt-financed acquisition.

Headquartered in Mississauga, Ontario, Valeant Pharmaceuticals
International, Inc., is a global specialty pharmaceutical company
formed from the merger of Biovail Corporation and Valeant
Pharmaceuticals International.  Revenues for the first three
quarters of 2010 were $667 million, consisting solely of legacy
Biovail revenues.


VALEANT PHARMACEUTICALS: S&P Puts 'BB-' Rating on $650 Mil. Notes
-----------------------------------------------------------------
Standard & Poor's Ratings Services said that it assigned its
'BB-' issue-level rating and '4' recovery rating to Valeant
Pharmaceuticals International's proposed $650 million of senior
unsecured notes due 2021.

At the same time, S&P affirmed its 'BB-' corporate credit rating
on Valeant Pharmaceuticals International, the preliminary 'BB+'
senior secured issue-level rating, and the 'BB-' senior unsecured
rating, which takes into consideration the new $650 million notes.
S&P is revising its recovery rating on the senior unsecured notes
to '4' from '3'.  The '4' recovery rating indicates S&P's
expectation for average (30%-50%) recovery of principal in the
event of a default.  S&P also affirmed the 'B' issue-level rating
on the subordinated notes. The rating outlook on Valeant is
stable.

"The ratings affirmation follows the announcement that Valeant
Pharmaceuticals will acquire Switzerland-based PharmaSwiss a
S.A., a branded generics and over the counter pharmaceutical
company, for $476 million, and the Canadian and remaining U.S.
rights of Zovirax (which the company acquired with the merger of
Biovail) for $300 million.  The acquisitions will be funded by a
$650 million senior unsecured notes issuance and cash on hand,"
said Standard & Poor's credit analyst Michael Berrian.

S&P's ratings on Valeant reflect its fair business risk profile,
which is evidenced by a continued reliance on acquisitions for
growth and a weak internal research and development program.
It also reflects its aggressive financial risk profile.  These
factors outweigh the benefits of a broader product portfolio
attained from the recently closed merger with Biovail, and the
pending acquisition of PharmaSwiss.


VM ASC: U.S. Trustee Unable to Appoint Creditors Committee
----------------------------------------------------------
Roberta A. DeAngelis, the United States Trustee for Region 3, has
advised the U.S. Bankruptcy Court for the that an official
committee of unsecured creditors has not been appointed in the
Chapter 11 case of VM ASC Partnership due to insufficient response
to the U.S. Trustee's communication for service on the committee.

                     About VM ASC Partnership

Altoona, Pennsylvania-based VM ASC Partnership filed for Chapter
11 bankruptcy protection on November 12, 2010 (Bankr. W.D. Pa.
Case No. 10-71330).  Robert O. Lampl, Esq., who has an office in
Pittsburgh, Pennsylvania, serves as the Debtor's bankruptcy
counsel.  The Debtor estimated its assets at $10 million to
$50 million and debts at $1 million to $10 million.

Affiliates 200 East Plank Road, L.P. (Bankr. W.D. Pa. 10-70679),
et al., filed separate Chapter 11 petitions.


WAYNE COUNTY PUBLICATIONS: Files for Chapter 11 in Huntington
-------------------------------------------------------------
The owner of the Wayne County News, a West Virginia newspaper that
is in circulation since 1874, has sought bankruptcy protection.

Wayne County Publications, Inc., filed a Chapter 11 petition
(Bankr. S.D. W.V. Case No. 11-30078) in Huntington, West Virginia,
on Feb. 5, 2011.  It estimated less than $1 million in assets and
debts in excess of $1 million.

Wayne County News -- http://www.waynecountynews.com/--is
published every Wednesday and Saturday.  Subscription rates are
$60 per year or $6 per month, according to the Web site.

Thomas G. George, the publisher and president, signed the
bankruptcy petition.

Wayne County News has not yet reported about the bankruptcy filing
in its Web site.

According to the statement of operations filed in bankruptcy
court, the Company had gross profit of $590,265 on $620.873 of
revenue for the period November 2009 until January 2010.  Net
income was $1,852.  The balance sheet said that the Company had
$2,120,827 in assets and $4,747,045 in liabilities as of Jan. 31,
2010.


WAYNE COUNTY PUBLICATIONS: Case Summary & Unsecured Creditors
-------------------------------------------------------------
Debtor: Wayne County Publications, Inc.
        310 Central Avenue
        Wayne, WV 25570

Bankruptcy Case No.: 11-30078

Chapter 11 Petition Date: February 5, 2011

Court: U.S. Bankruptcy Court
       Southern District of West Virginia (Huntington)

Judge: Ronald G. Pearson

Debtor's Counsel: Joe M. Supple, Esq.
                  SUPPLE LAW OFFICE, PLLC
                  801 Viand Street
                  Point Pleasant, WV 25550
                  Tel: (304) 675-6249
                  Fax: (304) 675-4372
                  E-mail: supplelawoffice@yahoo.com

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

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

A list of the Company's six largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/wvsb11-30078.pdf

The petition was signed by Thomas J. George, president.


WIEN BAKERY: Case Summary & 8 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Wien Bakery LLC
        3035 W. Olympic Boulevard
        Los Angeles, CA 90006

Bankruptcy Case No.: 11-15013

Chapter 11 Petition Date: February 4, 2011

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

Debtor's Counsel: Robert Y. Lee, Esq.
                  LEE LAW GROUP APLC
                  3701 Wilshire Boulevard, Suite 1050
                  Los Angeles, CA 90010
                  Tel: (213) 383-5400
                  Fax: (213) 383-5402
                  E-mail: mkim@lgcounsel.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 eight largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb11-15013.pdf

The petition was signed by Hae Duk Kim, owner and controlling
shareholder.


XODTEC LTD: Restates Financial Reports for 2010 and 2009
--------------------------------------------------------
Xodtec LED, Inc.'s financial statements filed with the Securities
and Exchange Commission in 2010 and 2009 have been restated

                         Year Ended Feb. 28

Xodtec LED, Inc.'s financial statements at February 28, 2010, and
2009, have been restated to reflect corrections in the statements
previously provided.

In connection with the audit of the Company's financial statements
for the fiscal year ended February 28, 2009, the Company
determined that it did not have sufficient documentation to
confirm balances previously reported in its quarterly reports for
the first three quarters of the year ended February 28, 2009.  As
a result, the balance sheet at February 28, 2009, was restated.
The Company did not previously file statements of operations and
comprehensive income and statements of cash flows for the year
ended February 28, 2009, and, accordingly, those statements are
not shown as restated.

The Company's balance sheet at February 28, 2010, showed
$1.8 million in total assets, $4.0 million in total liabilities,
and a stockholders' deficit of $2.2 million.

The Company's balance sheet at February 28, 2009, showed $537,288
in total assets, $1.5 million in total liabilities, and a
stockholders' deficit of $980,956.

The Company reported a net loss (restated) of $3.6 million on
$991,645 of revenue for the fiscal year ended February 28, 2010,
compared to a net loss (pro forma) of $394,777 on $1.2 million of
revenue for the comparable period of the previous year.

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

               http://researcharchives.com/t/s?72cd

                          May 31 Quarters

Xodtec LED, Inc.'s financial statements for the three months ended
May 31, 2010, and 2009, have been restated to reflect corrections
in the financial statements previously provided.

For the three months ended May 31, 2010, the Company originally
reported a net loss of approximately $614,000 on revenue of
$244,000.  As restated, the Company reported a loss of
approximately $208,000 on revenue of approximately $244,000.  The
difference reflects a gain of approximately $407,000 from the
change in the fair value of accrued derivative liability.

As originally reported, the Company showed net income of $724,000
on revenue of $1.2 million for the three months ended May 31,
2009.  As restated, the Company reported a net loss of $897,000 on
revenue of $230,000.

The Company's balance sheet (restated) at May 31, 2010, showed
$1,786,400 in total assets, $3,356,533 in total liabilities, and a
stockholders' deficit of $1,570,133.

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

               http://researcharchives.com/t/s?72ce

                       August 31 Quarters

Xodtec LED, Inc.'s financial statements for the three months ended
August 31, 2010, and 2009, have been restated to reflect
corrections in the financial statements previously provided.

For the three months ended August 31, 2010, the Company originally
reported a net loss of approximately $843,000 on revenue of
approximately $245,000.  As restated, the Company reported a loss
of approximately $437,000 on revenue of approximately $245,000.
The difference reflects a gain of approximately $407,000 from the
change in the fair value of accrued derivative liability.

For the three months ended August 31, 2009, the Company originally
reported net income of approximately $757,000 on revenue of
approximately $3.0 million.  As restated, the Company reported a
loss of approximately $320,000 on revenue of approximately
$260,000.

The Company's balance sheet (restated) at August 31, 2010, showed
$1.7 million in total assets, $3.5 million in total liabilities,
and a stockholders' deficit of $1.8 million.

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

               http://researcharchives.com/t/s?72d1

                      November 30 Quarters

Xodtec LED, Inc.'s financial statements for the three months ended
November 30, 2010, and 2009, have been restated to reflect
corrections in the financial statements previously provided.

For the three months ended November 30, 2010, the Company
originally reported a net loss of approximately $795,000 on
revenue of approximately $335,000.  As restated, the Company
reported a loss of approximately $389,000 on revenue of
approximately $335,000.  The difference reflects a gain of
approximately $407,000 from the change in the fair value of
accrued derivative liability.

For the three months ended November 30, 2009, the Company
originally reported net income of approximately $76,000 on revenue
of approximately $7.4 million.  As restated, the Company reported
a loss of approximately $1.6 million on revenue of approximately
$250,000.

The Company's balance sheet (restated) at November 30, 2010,
showed $2.1 million in total assets, $3.5 million in total
liabilities, and a stockholders' deficit of $1.4 million.

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

               http://researcharchives.com/t/s?72d2

                         About Xodtec LED

Based in Jhonghe City, in Taiwan, Xodtec LED, Inc., is a Nevada
corporation incorporated on November 29, 2006, under the name
Sparking Events, Inc.  On June 28, 2009, the Company's corporate
name was changed to "Xodtec Group USA, Inc." and on May 17, 2010,
the Company's corporate name was changed to "Xodtec LED, Inc."

The Company, through its subsidiaries, is engaged in the design,
marketing and selling of advanced lighting solutions which are
designed to use less energy and have a longer life than
traditional incandescent, halogen, fluorescent light sources.  The
Company's wholly-owned subsidiaries, Xodtec Technology Co., Ltd.,
Targetek Technology Co., Ltd., and UP Technology Co., Ltd., are
organized under the laws of the Republic of China (Taiwan).  The
Company also owns a 35% interest in Radiant Sun Development S.A.,
a company organized under the laws of the Independent State of
Samoa.

As reported in the Troubled Company Reporter on July 23, 2010,
Simon & Edward, LLP, in City of Industry, Calif., expressed
substantial doubt about Xodtec LED's ability to continue as a
going concern, following its results for the fiscal year ended
February 28, 2010.  The independent auditors noted that the
Company has incurred significant operating losses, has serious
liquidity concerns and may require additional financing in the
foreseeable future.


* Business Bankruptcy Filings Fall to Lowest Level Since July 2008
------------------------------------------------------------------
Dow Jones' DBR Small Cap reports that the number of businesses
seeking bankruptcy protection in January fell 12.2% from the prior
month, dropping total commercial filings to their lowest level
since July 2008.


* SecondMarket Taps Web Stock Frenzy to Boost Other Trades
----------------------------------------------------------
Dow Jones' DBR Small Cap reports that while SecondMarket Holdings
Inc. is best known for running a private exchange for illiquid
shares of the hottest Web companies, the high-profile service is
only a small part of its business.  The report relates that the
attention around Web-company shares has been a boon to its private
markets business, but it's had little impact on its ability to
sell the other types of illiquid securities that are for sale
through its exchange.

According to DBR, the company -- itself backed by venture capital
from FirstMark Capital, New Enterprise Associates, SVP Financial
Holdings, Temasek Holdings and Li Ka-Shing Foundation -- intends
to change that.  The report notes that The trading of stock in
companies like Facebook Inc., Twitter Inc. and Zygna Game Network
Inc. accounts for less than one-tenth of the transactions across
SecondMarket's business.

Last year, about $400 million worth of pre-IPO stock went through
its system, compared with about $5 billion in transactions
overall, the report notes.


* S&P: Residential Mortgage Monthly Defaults Declined in Q4
-----------------------------------------------------------
Monthly new default rates continued to decline for U.S.
residential mortgage loans through the fourth quarter of 2010,
according to a recent report published by Standard & Poor's
Ratings Services.

"We remain wary, however, about the state of the housing market
because the declining cure and liquidation rates for the prime,
Alt-A, and subprime segments suggest that any positive momentum in
home prices may be temporary," said Diane Westerback, head of
Global Surveillance Analytics in Standard & Poor's Structured
Finance department.  "The delayed liquidations create a
supply of unresolved distressed properties that have yet to be
remarketed for sale and may be skewing the visible supply of homes
for sale."

The overall performance of securitized residential loans has
progressively deteriorated from one vintage to the next.  In
short, newer vintages, particularly 2005 and later, continue to
perform significantly worse than pre-2004 vintages.


* S&P Global Defaults Tally Now at 2 After Sbarro Missed Payment
----------------------------------------------------------------
U.S.-based restaurant Sbarro Inc. missed an interest payment this
week, raising the 2011 global corporate default tally to two, said
an article published February 4 by Standard & Poor's, titled
"Global Corporate Default Update (Jan. 28 - Feb. 3, 2011)
(Premium)."

By comparison, 15 global corporate issuers had defaulted by this
time in 2010 (13 U.S.-based issuers, one Australian issuer, and
one Canadian issuer).

Both of this year's defaulters missed interest or principal
payments, which was one of the top reasons for default last year.
Of the defaults in 2010, 28 resulted from missed interest or
principal payments, 25 resulted from Chapter 11 and foreign
bankruptcy filings, 23 from distressed exchanges, three from
receiverships, and one each from regulatory directives and
administration.


* Banks in Georgia, Illinois Shuttered; Year's Failures Now 14
--------------------------------------------------------------
Regulators shut two banks in Georgia and another in Illinois,
pushing this year's failure count to 14.  The Federal Deposit
Insurance Corp. was named receiver in each of the three
transactions.  The closures cost the FDIC's deposit-insurance fund
$118.4 million.

A total of 336 lenders have collapsed since the start of 2008.
Lenders are failing after the financial crisis drove down home and
commercial property values and pushed the unemployment rate above
10 percent, according to Bloomberg News.

Regulators closed American Trust Bank of Roswell, Georgia, and
North Georgia Bank of Watkinsville, Georgia.  Renasant Bank, of
Tupelo, Mississippi, purchased American Trust and its three
branches, picking up more than $220 million in deposits.
Greensboro, Georgia's BankSouth assumed about $140 million in
deposits from North Georgia Bank, and acquired two branches.
BankSouth acquired North Georgia's loan portfolio, a portion of
the failed lender's $153.2 million in total assets.

Community First Bank Chicago was closed by regulators and its sole
branch was sold to Northbrook Bank & Trust Co. of Northbrook,
Illinois, according to the FDIC.  Northbrook paid the
FDIC a 0.50 premium to assume almost $50 million in deposits.

                  2011 Failed Banks List

The FDIC was appointed as receiver for the closed banks.  To
protect the depositors, the FDIC entered into a purchase and
assumption agreement with various banks that agreed to assume the
deposits of most of the closed banks.  The FDIC also entered into
loss-share transactions on assets bought by the banks.

For this year, the failed banks are:

                                   Loss-Share
                                 Transaction Party     FDIC Cost
                     Assets of    Bank That Assumed   to Insurance
                    Closed Bank  Deposits & Bought      Fund
   Closed Bank       (millions)   Certain Assets       (millions)
   -----------       ----------   --------------      -----------
American Trust Bank      $238.2  Renasant Bank              $71.5
Community First           $51.1  Northbrook Bank            $11.7
North Georgia Bank       $153.2  BankSouth                  $35.2

First Community Bank   $2,310.0  U.S. Bank, N.A.           $260.0
FirsTier Bank            $781.5  No Acquirer               $242.6
Evergreen State          $246.5  McFarland State            $22.8
The First State Bank      $43.5  Bank 7                    $20.1
The Bank of Asheville    $195.1  First Bank                 $56.2
CommunitySouth Bank      $440.6  Certus Bank                $46.3
Enterprise Banking       $100.9  [No Acquirer]              $39.6
United Western Bank    $2,050.0  First-Citizens Bank       $312.8
Oglethorpe Bank          $230.6  Bank of the Ozarks         $80.4
Legacy Bank, Arizona     $150.6  Enterprise Bank & Trust    $27.9
First Commercial Bank    $598.5  First Southern Bank        $78.0

In 2010, there were 157 failed banks, compared with 140 in 2009
and just 25 for 2008.

A complete list of banks that failed since 2000 is available at:

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

             860 Banks Now in FDIC's Problem List

The FDIC said in is latest quarterly banking profile that the
number of institutions on its "Problem List" rose to 860 as of
Sept. 30, 2010 from 829 at June 30, 2010.  There were 775 banks on
the list at the end of the first quarter.

The FDIC, however, pointed out that the total assets of "problem"
institutions declined from $403 billion to $379 billion.  The
number of "problem" institutions is the highest since March 31,
1993, when there were 928.

The Deposit Insurance Fund balance -- the net worth of the fund --
was negative $8 billion at the end of the third quarter of 2010
from negative $15.2 billion from June 30, 2010.

Chairman Bair said, "The industry has come a long way in cleaning
up balance sheets, building capital, and adjusting to changes in
financial markets and the economy.  But the adjustments are not
over, and this is no time for complacency."

             Problem Institutions      Failed Institutions
             --------------------      -------------------
Year           Number  Assets (Mil)      Number  Assets (Mil)
----           ------  ------------      ------  ------------
2009              702      $402,800         140       $169,700
2008              252      $159,405          25       $371,945
2007               76       $22,189           3         $2,615
2006               50        $8,265           0             $0
2005               52        $6,607           0             $0
2004               80       $28,250           4           $170


* Paul Hastings Partners Join DLA Piper
---------------------------------------
Bankruptcy Law360 reports that three of Paul Hastings Janofsky &
Walker LLP's restructuring partners and two private equity
partners have defected to DLA Piper, including the founder of Paul
Hastings' Chicago office, as the firm expands its presence in the
Windy City.

Law360 relates that DLA Piper announced the new additions on
February 1, touting Richard A. Chesley for both the skills he
acquired managing Paul Hasting's Chicago office, which he founded
in 2006.


* BOND PRICING -- For Week From Jan. 31 to Feb. 4, 2011
-------------------------------------------------------

  Company            Coupon      Maturity    Bid Price
  -------            ------      --------    ---------
155 E TROPICANA       8.750%     4/1/2012        4.659
ADVANTA CAP TR        8.990%   12/17/2026       13.000
AMBAC INC             5.950%    12/5/2035       13.000
AMBAC INC             6.150%     2/7/2087        1.500
AMBAC INC             7.500%     5/1/2023       15.125
AMBAC INC             9.375%     8/1/2011       19.200
AMBAC INC             9.500%    2/15/2021       13.860
AMBASSADORS INTL      3.750%    4/15/2027       38.250
AMR CORP             10.450%    3/10/2011       97.554
BANK NEW ENGLAND      8.750%     4/1/1999       11.250
BANK NEW ENGLAND      9.875%    9/15/1999       13.000
BANKUNITED FINL       3.125%     3/1/2034        5.600
BANKUNITED FINL       6.370%    5/17/2012        6.500
BLOCKBUSTER INC       9.000%     9/1/2012        2.500
CAPMARK FINL GRP      5.875%    5/10/2012       47.250
COLUMBUS MC-CALL      8.875%    11/1/2013      102.790
CS FINANCING CO      10.000%    3/15/2012        3.000
CURAGEN CORP          4.000%    2/15/2011       99.000
DUNE ENERGY INC      10.500%     6/1/2012       72.250
EDDIE BAUER HLDG      5.250%     4/1/2014        5.000
EVERGREEN SOLAR       4.000%    7/15/2013       35.500
FAIRPOINT COMMUN     13.125%     4/1/2018       10.375
FAIRPOINT COMMUN     13.125%     4/2/2018       14.125
FRIEDE GOLDMAN        4.500%    9/15/2004        0.950
GENERAL MOTORS        7.125%    7/15/2013       35.000
GENERAL MOTORS        9.450%    11/1/2011       33.500
GREAT ATLA & PAC      5.125%    6/15/2011       34.250
GREAT ATLA & PAC      6.750%   12/15/2012       33.275
GREAT ATLANTIC        9.125%   12/15/2011       27.425
HARRY & DAVID OP      9.000%     3/1/2013       36.250
LEHMAN BROS HLDG      1.500%    3/23/2012       22.875
LEHMAN BROS HLDG      4.500%     8/3/2011       23.000
LEHMAN BROS HLDG      4.700%     3/6/2013       22.500
LEHMAN BROS HLDG      4.800%    2/27/2013       22.500
LEHMAN BROS HLDG      4.800%    3/13/2014       24.500
LEHMAN BROS HLDG      5.000%    1/22/2013       22.750
LEHMAN BROS HLDG      5.000%    2/11/2013       23.250
LEHMAN BROS HLDG      5.000%    3/27/2013       22.271
LEHMAN BROS HLDG      5.000%     8/5/2015       23.000
LEHMAN BROS HLDG      5.100%    1/28/2013       19.000
LEHMAN BROS HLDG      5.150%     2/4/2015       20.500
LEHMAN BROS HLDG      5.250%     2/6/2012       23.500
LEHMAN BROS HLDG      5.250%    2/11/2015       22.500
LEHMAN BROS HLDG      5.500%     4/4/2016       25.250
LEHMAN BROS HLDG      5.625%    1/24/2013       25.750
LEHMAN BROS HLDG      5.750%    7/18/2011       22.770
LEHMAN BROS HLDG      5.750%    5/17/2013       23.000
LEHMAN BROS HLDG      5.750%     1/3/2017        0.011
LEHMAN BROS HLDG      6.000%    7/19/2012       24.750
LEHMAN BROS HLDG      6.000%    6/26/2015       22.750
LEHMAN BROS HLDG      6.000%   12/18/2015       22.750
LEHMAN BROS HLDG      6.000%    2/12/2018       21.655
LEHMAN BROS HLDG      6.200%    9/26/2014       24.250
LEHMAN BROS HLDG      6.625%    1/18/2012       22.500
LEHMAN BROS HLDG      7.000%    4/16/2019       19.931
LEHMAN BROS HLDG      8.500%     8/1/2015       21.500
LEHMAN BROS HLDG      8.750%   12/21/2021       22.500
LEHMAN BROS HLDG      8.800%     3/1/2015       22.750
LEHMAN BROS HLDG      9.000%     3/7/2023       21.750
LEHMAN BROS HLDG      9.500%   12/28/2022       22.500
LEHMAN BROS HLDG      9.500%    1/30/2023       22.500
LEHMAN BROS HLDG     10.000%    3/13/2023       21.425
LEHMAN BROS HLDG     10.375%    5/24/2024       22.750
LEHMAN BROS HLDG     11.000%    6/22/2022       22.510
LEHMAN BROS HLDG     11.000%    3/17/2028       20.000
LEHMAN BROS HLDG     18.000%    7/14/2023       22.500
LOCAL INSIGHT        11.000%    12/1/2017       13.000
LTX-CREDENCE          3.500%    5/15/2011       91.500
MAGNA ENTERTAINM      7.250%   12/15/2009        3.000
MAJESTIC STAR         9.750%    1/15/2011       16.000
NEWPAGE CORP         10.000%     5/1/2012       66.000
NEWPAGE CORP         12.000%     5/1/2013       31.000
PL-CALL03/11          5.050%    3/15/2020       94.127
PL-CALL03/11          5.150%    3/15/2020       94.599
RASER TECH INC        8.000%     4/1/2013       35.000
RESTAURANT CO        10.000%    10/1/2013       35.000
RESTAURANT CO        10.000%    10/1/2013       30.375
RYERSON TULL INC      8.250%   12/15/2011       65.020
SBARRO INC           10.375%     2/1/2015       33.050
SPHERIS INC          11.000%   12/15/2012        1.500
THORNBURG MTG         8.000%    5/15/2013        4.000
TIMES MIRROR CO       7.250%     3/1/2013       35.100
TRANS-LUX CORP        8.250%     3/1/2012       18.000
TRICO MARINE          3.000%    1/15/2027        7.000
TRICO MARINE SER      8.125%     2/1/2013       11.750
VESTA INSUR GRP       8.750%    7/15/2025        0.500
VIRGIN RIVER CAS      9.000%    1/15/2012       50.000
WASH MUT BANK NV      5.500%    1/15/2013        0.010
WOLVERINE TUBE       15.000%    3/31/2012       36.000



                           *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers"
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com 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.  Jhonas Dampog, 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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