/raid1/www/Hosts/bankrupt/TCR_Public/110219.mbx
T R O U B L E D C O M P A N Y R E P O R T E R
Saturday, February 19, 2011, Vol. 15, No. 49
Headlines
BRUNDAGE-BONE: Posts Net Loss of $1.8 Million in December
CONSOLIDATED HORTICULTURE: Incurs $12.1 Mil. Loss in December
GUARANTY FINANCIAL: Ends January 2011 With $10.99 Million Cash
INTERNATIONAL GARDEN: Posts $428,077 Net Loss in December
LOCAL INSIGHT: Has Net Cash Flow of $12,254 From Nov. 17 - Dec. 31
MERUELO MADDUX: Posts $5 Million Net Loss in December
MESA AIR: Reports $11,160,000 Net Loss in December
PROFESSIONAL VETERINARY: Ends January 2011 With $6,479,274 Cash
*********
BRUNDAGE-BONE: Posts Net Loss of $1.8 Million in December
---------------------------------------------------------
Brundage-Bone Concrete Pumping Inc. and JLS Concrete Pumping Inc.
filed with the U.S. Bankruptcy Court for the District of Colorado
on January 27, 2011, a monthly operating report for December 2010.
At December 31, 2010, the Debtors had $222.0 million in total
assets, $201.9 million in total liabilities, and stockholders'
equity of $20.1 million.
The Debtors reported a consolidated net loss of $1.8 million on
$6.3 million of revenue for the month.
A copy of the monthly operating report is available for free at:
http://bankrupt.com/misc/brundage-bone.dec2010.mor.pdf
http://bankrupt.com/misc/brundage-bone.dec2010.mor.Part2.pdf
http://bankrupt.com/misc/brundage-bone.dec2010.mor.Part3.pdf
About Brundage-Bone
Brundage-Bone Concrete Pumping Inc. and JLS Concrete Pumping Inc.,
claim to be the largest providers of concrete pumping equipment in
the U.S. As of the Petition Date, the Debtors operated a fleet of
in excess of 800 concrete pumps and related pumping equipment in
more than 20 states, primarily in the western, southwestern, and
southeast United States. Brundage-Bone and JLS also actively sell
concrete pumps, parts and service. Approximately 52% of the
Brundage-Bone and JLS is owned by the founders, Jack Brundage and
Dale Bone, who are also guarantors of a substantial amount of the
Debtors' debt.
Brundage-Bone and JLS filed for Chapter 11 protection (Bankr. D.
Colo. Lead Case No. 10-10758) on Jan. 18, 2010. Harvey Sender,
Esq., John B. Wasserman, Esq., David V. Wadsworth, Esq., and
Matthew T. Faga, Esq., at Sender & Wasserman, P.C., in Denver,
Colo., assist the Debtors in their restructuring efforts. Willian
Snyder of CRG Partners Group, LLC, serves as Chief Turnaround
Officer of the Debtors.
Brundage-Bone disclosed $325,708,061 in assets and $230,277,103 in
liabilities as of the Petition Date. JLS disclosed $4,046,706 in
assets and $739,166 in liabilities as of the Petition Date.
CONSOLIDATED HORTICULTURE: Incurs $12.1 Mil. Loss in December
-------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Hines Nurseries Inc. filed an operating report last
week showing a $12.1 million net loss on sales of $1.28 million
for the month ended Jan. 2. The operating loss for the month was
$10 million.
About Consolidated Horticulture
Irvine, California-based Consolidated Horticulture Group LLC,
doing business as Hines Nurseries LLC --
http://www.hineshorticulture.com/-- operates nursery facilities
located in Arizona, California, Oregon and Texas. Through its
affiliate, the company produces and distributes horticultural
products.
Black Diamond Capital Management LLC purchased Hines
Nurseries Inc. in a bankruptcy sale in January 2009. The
resulting reorganization plan, confirmed in January 2009, paid
secured creditors in full on their $35.9 million in claims while
providing as much as $12 million toward debt owing to suppliers
both before and after the bankruptcy filing. The business bought
by Black Diamond was renamed to Consolidated Horticulture.
Consolidated Horticulture and its affiliates filed for Chapter 11
protection on October 12, 2010 (Bankr. D. Del. Lead Case No.
10-13308). Laura Davis Jones, Esq. and Timothy P. Cairns, Esq. at
Pachulski Stang Ziehl & Jones LLP, serve as Delaware counsel to
the Debtors. Attorneys at Jones, Walker, Waechter, Poitevent,
Carrere & Denegre, L.L.P., serve as bankruptcy counsel. Epiq
Bankruptcy Solutions LLC is the claims agent. The Official
Committee of Unsecured Creditors has tapped Lowenstein Sandler PC
as counsel and Blank Rome LLP as co-counsel. Consolidated
Horticulture estimated $100 million to $500 million in assets and
$50 million to $100 million in debts in the Chapter 11 petition.
GUARANTY FINANCIAL: Ends January 2011 With $10.99 Million Cash
--------------------------------------------------------------
On February 11, 2011, Guaranty Financial Group Inc. and each of
its wholly owned subsidiaries, Guaranty Group Ventures Inc.,
Guaranty Holdings Inc., and Guaranty Group Capital Inc. filed
their unaudited monthly operating reports for January 2011 with
the United States Bankruptcy Court for the Northern District of
Texas, Dallas Division.
Guaranty Financial Group reported a net loss of $58,883 for the
month of January 2011. The Debtor incurred a total of $39,050
in professional fees for the month.
At January 31, 2011, Guaranty Financial Group had $14.4 million
in total assets, $328.9 million in total liabilities, and
a stockholders' deficit of $314.5 million.
Guaranty Financial had unrestricted cash of $9.77 million
and restricted cash of $1.22 million at January 31, 2011, for
total cash of $10.99 million, compared to unrestricted cash of
$9.79 million and restricted cash of $1.22 million at December 31,
2010, for total cash of $11.01 million.
A full-text copy of Guaranty Financial Group's monthly operating
report is available for free at:
http://researcharchives.com/t/s?737b
Guaranty Group Ventures reported net profit of $316 for the month
of January 2011.
At January 31, 2011, Guaranty Group Ventures had $12.2 million
in total assets, $371,385 in total liabilities, and stockholders'
equity of $11.9 million. Guaranty Group Ventures ended the month
with $6.3 million in cash.
A full-text copy of Guaranty Group Ventures' monthly operating
report is available for free at:
http://researcharchives.com/t/s?737d
Guaranty Holdings reported a net loss of $325 for the month of
January 2011.
At January 31, 2011, Guaranty Holdings had $6,521 in cash, $371
in total liabilities, and $6,150 in total equity.
A full-text copy of Guaranty Holdings' monthly operating report is
available for free at:
http://researcharchives.com/t/s?737e
Guaranty Group Capital reported a net loss of $6 for the month
of January 2011.
At January 31, 2011, Guaranty Group Capital had $4,173,743 in
cash, $950 in total liabilities and $4,172,793 in total equity.
A full-text copy of Guaranty Group Capital's monthly operating
report is available for free at:
http://researcharchives.com/t/s?737c
About Guaranty Financial
Dallas, Texas-based Guaranty Financial Group Inc. --
http://www.guarantygroup.com/-- was a unitary savings and loan
holding company. The Company's primary operating entities were
Guaranty Bank and Guaranty Insurance Services, Inc. Guaranty
Financial filed for bankruptcy after the Guaranty bank was seized
by regulators and sent to receivership under the Federal Deposit
Insurance Corporation. Before the bank was taken over, the
balance sheet of the holding company had $15.4 billion in assets
as of September 30, 2008.
Guaranty Financial and its affiliates filed for Chapter 11 (Bankr.
N.D. Tex. Case No. 09-35582) on August 27, 2009. Attorneys at
Haynes & Boone, LLP, represent the Debtors. According to the
schedules attached to its petition, the Company disclosed
$24.3 million in total assets and $323.4 million in total debts,
including $305.0 million in trust preferred securities.
INTERNATIONAL GARDEN: Posts $428,077 Net Loss in December
---------------------------------------------------------
International Garden Products, Inc., et al., reported a
consolidated net loss of $428,077 on $4.2 million of sales for
December 2010.
At December 31, 2010, the Debtors had total assets of
$57.1 million, total liabilities of $68.0 million, and a
stockholders' deficit of $10.9 million.
A copy of the December 2010 monthly operating report is available
for free at:
http://bankrupt.com/misc/internationalgarden.dec2010mor.pdf
About International Garden Products
International Garden Products, Inc. was incorporated in 1996 as a
holding company for Iseli Nursery, Inc., California Nursery
Supply, Weeks Wholesale Rose Grower, and Old Skagit, Inc. The
company's operating businesses, Iseli and Weeks, focus primarily
on growing horticultural products for nationwide sale to
independent garden centers, landscape suppliers, landscapers and
similar parties. Iseli's is known in the industry as the premium
source of dwarf conifers, Japanese maples and unique companion
plants. Weeks is one of the largest wholesale breeders and
growers of premium roses in the U.S.
International Garden Products, Inc., and its affiliates filed for
Chapter 11 protection on Oct. 4, 2010 (Bankr. Lead Case No. 10-
13207). International Garden estimated assets and debts at
$10 million to $50 million in its Chapter 11 petition.
Andrew R. Remming, Esq., at Morris, Nichols, Arsht & Tunnell,
serves as bankruptcy counsel. Bryan Cave LLP is the legal
counsel. FTI Consulting is the restructuring advisor. Garden
City Group is the claims and notice agent.
The debtor-affiliates are Weeks Wholesale Rose Grower (Bankr. D.
Del. Case No. 10-13208), California Nursery Supply (Case No. 10-
13209), Iseli Nursery, Inc. (Case No. 10-13210), and Old Skagit,
Inc. (Case No. 10-13211).
LOCAL INSIGHT: Has Net Cash Flow of $12,254 From Nov. 17 - Dec. 31
------------------------------------------------------------------
Local Insight Media Holdings, Inc., et al., filed with the U.S.
Bankruptcy Court for the District of Delaware on January 31, 2011,
a monthly operating report for the period November 17, 2010,
through December 31, 2010.
The Debtors' combined schedules of operating cash flow for the
period disclosed:
Operating Cash Flow
Operating Receipts $28,686
Operating Disbursements ($14,083)
Payment to Holdings for Regatta
Operating Expenses ($938)
Consolidated Operating Cash Flow $13,665
Capitalized Expenses ($304)
Professional and DIP Fees ($1,021)
DIP Interest ($76)
Other Regatta Expenses ($1,401)
Payment to Holdings for Regatta
Capitalized Expenses ($10)
-------
Net Cash Flow $12,254
A copy of the monthly operating report for the period November 17,
2010, through December 31, 2010, is available for free at:
http://bankrupt.com/misc/localinsight.nov17-dec31.2010mor.pdf
About Local Insight Media Holdings
Wilmington, Delaware-based Local Insight Media Holdings, Inc., is
a publisher of print and online yellow page directories in the
United States. It filed for Chapter 11 bankruptcy protection on
(Bankr. D. Del. Case No. 10-13677) on November 17, 2010.
Affiliates Local Insight Media Holdings II, Inc. (Bankr. D. Del.
Case No. 10-13679), Local Insight Media Holdings III, Inc. (Bankr.
D. Del. Case No. 10-13682), LIM Finance Holdings, Inc. (Bankr. D.
Del. Case No. 10-13680), LIM Finance, Inc. (Bankr. D. Del. Case
No. 10-13681), LIM Finance II, Inc. (Bankr. D. Del. Case No.
10-13687), Local Insight Regatta Holdings, Inc. (Bankr. D. Del.
Case No. 10-13686), The Berry Company LLC (Bankr. D. Del. Case No.
10-13678), Local Insight Listing Management, Inc. (Bankr. D. Del.
Case No. 10-13685), Regatta Investor Holdings, Inc. (Bankr. D.
Del. Case No. 10-13725), Regatta Investor Holdings II, Inc.
(Bankr. D. Del. Case No. 10-13741), Regatta Investor LLC (Bankr.
D. Del. Case No. 10-13684), Regatta Split-off I LLC (Bankr. D.
Del. Case No. 10-13721), Regatta Split-off II LLC (Bankr. D. Del.
Case No. 10-13753), Regatta Split-off III LLC (Bankr. D. Del. Case
No. 10-13737), Regatta Holding I, L.P. (Bankr. D. Del. Case No.
10-13748), Regatta Holding II, L.P. (Bankr. D. Del. Case No.
10-13715), and Regatta Holding III, L.P. (Bankr. D. Del. Case No.
10-13745) filed separate Chapter 11 petitions.
Richard M. Cieri, Esq., Christopher J. Marcus, Esq., and Ross M.
Kwasteniet, Esq., at Kirkland & Ellis LLP, serve as the Debtors'
bankruptcy counsel. Curtis A. Hehn, Esq., Laura Davis Jones,
Esq., and Michael Seidl, Esq., at Pachulski Stang Ziehl & Jones
LLP, are the Debtors' co-counsel.
The Debtors' investment banker and financial advisor is Lazard
Freres & Co. LLC. The Debtors' independent auditor is Deloitte &
Touche LLP. The Debtors' interim management and restructuring
advisors are Alvarez & Marsal North America, LLC, and Avarez &
Marsal Private Equity Performance Improvement Group, LLC.
Kurtzman Carson Consultants LLC is the Debtors' notice and claims
agent.
Local Insight Media Holdings estimated assets of less than $50,000
and liabilities of $100 million to $500 million in its Chapter 11
petition. Local Insight Regatta reported consolidated assets of
$796,270,000 against consolidated debts of $669,612,000 as of
September 30, 2010, according to its Form 10-Q filed with the
Securities and Exchange Commission.
The Official Committee of Unsecured Creditors has tapped Milbank,
Tweed, Hadley & McCloy LLP as its counsel; Morris, Nichols, Arsht
& Tunnel LLP as Delaware co-counsel; and Houlihan Lokey Howard &
Zukin Capital Inc. as its financial advisor and investment banker.
MERUELO MADDUX: Posts $5 Million Net Loss in December
-----------------------------------------------------
Meruelo Maddux Properties, Inc., et al., posted a net loss of
$5.0 million on $2.0 million of revenue for the month of December
2010.
As of December 31, 2010, the Debtors had $498.1 million in total
assets, $324.7 million in total liabilities, and stockholders'
equity of $173.4 million.
A copy of the December 2010 monthly operating report is available
at no charge at:
http://bankrupt.com/misc/meruelomaddux.dec.2010.mor.pdf
About Meruelo Maddux
Meruelo Maddux and its affiliates filed for Chapter 11 protection
(Bankr. C.D. Calif. Lead Case No. 09-13356) on March 26, 2009.
Aaron De Leest, Esq., John J. Bingham, Jr., Esq., and John N.
Tedford, Esq., at Danning Gill Diamond & Kollitz, represent the
Debtors in their restructuring effort. The Debtors' financial
condition as of December 31, 2008, showed $681,769,000 in assets
and $342,022,000 of debts.
FTI Consulting, Inc., serves as the Debtors' financial advisors,
Ernst & Young as independent auditors and tax advisors, DLA Piper
LLP (US) as special securities and litigation counsel, and Waldron
& Associates, Inc. as real estate appraiser.
The U.S. Trustee has appointed an official committee of unsecured
creditors and a separate official shareholders' committee in the
case. SulmeyerKupetz, APC, serves as the Creditors Committee's
counsel and Kibel Green, Inc., as its financial advisor. The
equity committee has sought to retain Ron Orr & Professionals,
Inc., Rodiger Law Office, and Jenner & Block as counsel, and Kibel
Green, Inc. as its financial advisor.
The Debtors; Legendary Investors Group No. 1, LLC, and East West
Bank; and Charlestown Capital Advisors, LLC and Hartland Asset
Management Corporation have proposed rival reorganization plans in
the case. In mid-January 2011, the Debtors struck a deal with the
Legendary Group to drop the group's competing plan.
The Debtors have hired Kurtzman Carson Consultants as solicitation
and balloting agent.
Legendary Investors Group No. 1, LLC, is represented in the case
by Jeremy V. Richards, Esq., and Jeffrey W. Dulberg, Esq., at
Pachulski Stang Ziehl & Jones LLP; and Surjit P. Soni, Esq., at
The Soni Law Firm. East West Bank is represented by Curtis C.
Jung, Esq., and Monica H. Lin, Esq., at Jung & Yuen, LLP, and
Elmer Dean Martin III, Esq.
Charlestown Capital Advisors, LLC and Hartland Asset Management
Corporation are represented in the case by Christopher E. Prince,
Esq., Matthew A. Lesnick, Esq., and Andrew R. Cahill, Esq., at
Lesnick Prince LLP.
MESA AIR: Reports $11,160,000 Net Loss in December
--------------------------------------------------
Mesa Air Group, Inc., et al.
Condensed Consolidated Balance Sheet
As of December 31, 2010
ASSETS
Current Assets
Cash and cash equivalents $43,422,000
Short-term investments 0
Restricted investments 9,620,000
Receivables, net of allowance 18,926,000
Inventories, net of allowance 20,984,000
Prepaid expenses and other assets 84,596,000
--------------
Total current assets 177,548,000
Property and equipment, net 473,245,000
Security and other deposits 6,494,000
Other assets 492,935,000
--------------
TOTAL ASSETS $1,150,221,000
==============
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities Not Subject to Compromise:
Current Liabilities
Accounts payable $3,768,000
Air traffic liability 5,401,000
Other accrued expenses 46,082,000
Income tax payable 2,568,000
Deferred revenue & other current liabilities 0
--------------
Total current liabilities not subject to 57,818,000
compromise
Deferred credits and other liabilities 55,101,000
Long-term deferred income tax 156,719,000
Other long-term debt postpetition 0
--------------
Total liabilities not subject to compromise 211,820,000
Liabilities subject to compromise 1,389,906,000
--------------
Total Liabilities 1,659,545,000
Stockholders' Equity
Preferred stock, no par value, authorized 0
2,000,000 shares, none issued
Common stock, no par value and additional 115,500,000
paid-in capital, 900,000,000 shares
authorized; 175,217,249 and 175,217,249
shares issued and outstanding, respectively
Deferred stock compensation 1,803,000
Retained earnings (626,626,000)
--------------
Total shareholders' equity (509,324,000)
--------------
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY $1,150,221,000
==============
Mesa Air Group, Inc., et al.
Condensed Consolidated Statement of Operations
For the Month Ended December 31, 2010
Revenues
Passenger $58,323,000
Cargo 0
Other 266,000
--------------
Total revenue 58,589,000
--------------
Operating Expenses
Flight operations 15,173,000
Flight operations - nonoperating aircraft 0
Aircraft fuel 18,322,000
Aircraft and traffic servicing 3,807,000
Maintenance 12,295,000
Promotion and sales 501,000
General and administrative 1,926,000
Depreciation and amortization 2,822,000
impairment of long-lived asset 0
--------------
Total operating expenses 54,846,000
Operating Income (Loss) 3,743,000
Nonoperating Income (Expense)
Interest income 370,000
Interest expense (1,191,000)
Other, net (581,000)
--------------
Total nonoperating income (expense) (1,402,000)
Income (Loss) before reorganization items and 2,341,000
income Taxes
Income Taxes (6,512,000)
Loss (Gain) on reorganization items 20,014,000
Income (Loss) before discontinued operations (11,160,000)
Loss (Gain) from discontinued operations 0
--------------
NET INCOME (LOSS) ($11,160,000)
==============
Mesa Air Group, Inc., et al.
Condensed Consolidated Statement of Cash Flows
For the Month Ended December 31, 2010
Cash Flows from Operating Activities:
Net income (loss) from continuing operations ($11,160,000)
Net income (loss) from discontinued operations 0
--------------
Net income (loss) (11,160,000)
Adjustments to reconcile net loss to net cash
used in operating activities:
Depreciation and amortization 2,822,000
Impairment charges 0
Amortization of deferred credits 105,000
Amortization of restricted stock awards 35,000
Amortization of contract incentive payments 24,000
Provisions for obsolete expendable parts (1,111,000)
and supplies
Changes in operating assets and liabilities:
Net (purchase) sales of investment securities 1,747,000
Receivables (3,772,000)
Expendable parts and supplies 7,615,000
Prepaid expenses and other assets 6,807,000
Other assets 50,000
Accounts payable (20,240,000)
Income taxes payable (6,539,000)
Air traffic liability 0
Other accrued liabilities 26,145,000
--------------
Net cash provided by (used in) operating 2,527,000
activities
Cash Flows from Reorganization Activities:
Net cash provided by (used in) reorganization (20,014,000)
activities
--------------
Total net cash provided by (used in) operating (17,487,000)
activities
Cash Flows from Investing Activities:
Capital expenditures 730,000
Proceeds from sale of flight equipment and 0
expendable inventory
Change in restricted cash 72,000
Equity method investment 320,000
Investment deposits 0
Change in other assets 1,000
Net returns (payments) of lease and equipment (10,000)
deposits
--------------
Net cash (used in) provided by investing 1,114,000
activities
Cash Flows from Financing Activities:
Unsecured claims for rejected aircraft 0
Principal payments on long-term borrowings (2,731,000)
--------------
Net cash (used in) provided by financing (2,731,000)
activities
Increase (decrease) in cash and cash (19,104,000)
equivalents
Cash and cash equivalents at beginning of 62,526,000
period
--------------
Cash and cash equivalents at end of period $43,422,000
==============
About Mesa Air Group
Mesa currently operates 130 aircraft with approximately 700 daily
system departures to 127 cities, 41 states, Canada, and Mexico.
Mesa operates as Delta Connection, US Airways Express and United
Express under contractual agreements with Delta Air Lines, US
Airways and United Airlines, respectively, and independently as
Mesa Airlines and go! Mokulele. This operation links Honolulu to
the neighbor island airports of Hilo, Kahului, Kona and Lihue. The
Company, founded by Larry and Janie Risley in New Mexico in 1982,
has approximately 3,500 employees.
Mesa Air Group Inc. and its units filed their Chapter 11 petitions
Jan. 5 in New York (Bankr. S.D.N.Y. Case No. 10-10018), listing
assets of $976 million against debt totaling $869 million as of
Sept. 30, 2009.
Richard M. Pachulski, Esq., and Laura Davis Jones, Esq., at
Pachulski Stang Ziehl & Jones LLP, serve as local counsel to the
Debtors. Imperial Capital LLC is the investment banker. Epiq
Bankruptcy Solutions is claims and notice agent. Brett Miller,
Esq., Lorenzo Marinuzzi, Esq., and Todd Goren, Esq., at Morrison &
Foerster LLP, serve as counsel to the Official Committee of
Unsecured Creditors.
Judge Martin Glenn entered a final order confirming the Third
Amended Joint Plan of Reorganization of Mesa Air Group, Inc., and
its debtor affiliates on January 20, 2011. Under the plan, the
reorganized company will issue new notes, common stock and
warrants to creditors. Unsecured creditors that are U.S. citizens
will receive a combination of new notes and new common stock,
while unsecured creditors that are Non-U.S. citizens will receive
a combination of new notes and new warrants. An agreement with US
Airways paved way for the filing of the plan.
Bankruptcy Creditors' Service, Inc., publishes Mesa Air Bankruptcy
News. The newsletter tracks the Chapter 11 proceedings undertaken
by Mesa Air Group Inc. and its units.
(http://bankrupt.com/newsstand/or 215/945-7000).
PROFESSIONAL VETERINARY: Ends January 2011 With $6,479,274 Cash
------------------------------------------------------------
On February 14, 2011, Professional Veterinary Products, Ltd., and
its subsidiaries, ProConn, LLC, and Exact Logistics, LLC, filed
their unaudited monthly operating report for January 2011 with
the U.S. Bankruptcy Court for the District of Nebraska.
The Debtors submitted a summary of cash receipts and disbursements
for the period, disclosing:
Beginning Balance $6,384,043
Total Receipts $353,683
Disbursements $258,452
Net Cash Flow $95,231
Ending Cash Balance $6,479,274
Disbursements for professional and trustee fees totaled $186,918.
A copy of the monthly operating report is available for free at:
http://researcharchives.com/t/s?7369
About Professional Veterinary Products
Professional Veterinary Products Ltd. -- http://www.pvpl.com/--
operates a veterinary supply company owned and managed by
veterinarians.
Professional Veterinary sought Chapter 11 protection from
creditors on August 20, 2010, in Omaha, Nebraska (Bankr. D. Neb.
Case No. 10-82436). Affiliates ProConn and Exact Logistics also
filed for Chapter 11.
The Company reported $89.79 million in total assets,
$78.23 million in total liabilities, and $11.56 million in
stockholders' equity at April 30, 2010.
The Company hired McGrath North Mullin & Kratz PC LLC, as
bankruptcy counsel and Alliance Management as financial and
restructuring advisors.
As reported in the Troubled Company Reporter on December 29, 2010,
the Debtors and the Official Committee of Unsecured Creditors have
submitted to the Bankruptcy Court a proposed Plan of Liquidation
and an explanatory Disclosure Statement.
*********
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*********
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
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