TCR_Public/110331.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

             Thursday, March 31, 2011, Vol. 14, No. 89

                            Headlines

808 ASHLAND: Case Summary & 5 Largest Unsecured Creditors
AGY HOLDING: Incurs $14.57 Million Net Loss in 2010
AMBAC FIN'L: Judge Robertson Named Mediator for IRS Dispute
AMERICAN APPAREL: CEO Gets 6 Mil. Shares for Cash, Notes
APPLESEED'S INTERMEDIATE: Court OKs $90-Mil. Exit Loan Agreement

BANNING LEWIS: Court Extends Plan Filing Date to May 31
BANNING LEWIS: Has Until May 26 to Decide on Leases
BARNES BAY: Final DIP Financing Hearing on April 12
BENEDETTO LLC: Case Summary & 5 Largest Unsecured Creditors
BERNARD L MADOFF: Trustee Wins OK for Sale of Yacht 'Bull'

BERNARD L MADOFF: NY Times Wants Disclosure of Bankers' Names
BIOLIFE SOLUTIONS: Incurs $1.98 Million Net Loss in 2010
BJN, LLC: Case Summary & 2 Largest Unsecured Creditors
BLOCKBUSTER INC: Says Liquidation Plan Maybe Not Possible
BLUE HERON: CenterCal Has $20 Million Offer for Mill Site

BORDERS GROUP: Agree Realty in Default on Borders-Backed Loans
BORDERS GROUP: Wiley & Sons Posts $9-Mil. Bad Debt Expense
BORDERS GROUP: Lease Rejection Protocol Approved by Court
BORDERS GROUP: Wins OK for AP Services as Crisis Managers
BORDERS GROUP: Inks Agency Agreement for 26 Closed Stores

BORDERS GROUP: Proposes Deloitte as Tax Advisor
BOZEL SA: Seeks to Employ Rolim Godoi as Brazilian Counsel
BOZEL SA: Wants Until Aug. 1 to File Debt Repayment Plan
BOZEL SA: Amends Schedules of Assets and Liabilities
BOZEL SA: Creditors Have Until May 6 to File Claims

CAPMARK FINANCIAL: Seeks Approval of Bidding Procedures
CARIBBEAN PETROLEUM: To Present Plan for Confirmation on April 28
CARIBBEAN PETROLEUM: Asks for Plan Exclusivity Until May 9
CARTER'S GROVE: Obtains Approval to Employ Pachulski as Counsel
CARTER'S GROVE: Files Schedules of Assets and Liabilities

CHESAPEAKE CORP: Canal Wins Confirmation of Liquidating Plan
CHINA INTELLIGENT: Faruqi & Faruqi Probes Potential Wrongdoing
CHOA VISION: Marshall Hotels Signs Deal to Manage Crown Plaza
CONSOLIDATED HORTICULTURE: Wins OK for ENVIRON as Consultants
CONSPIRACY ENTERTAINMENT: Issues $400,000 of Promissory Notes

CRAWFORD PETROLEUM: Case Summary & 20 Largest Unsecured Creditors
CROATAN SURF: Conf. Hearing on 2nd Amended Plan Moved to June 7
CYNERGY DATA: Trustee Wants $47 Million from Predecessor's CEO
DAIS ANALYTIC: Extends Term of $1-Mil. Platinum-Montaur Note
DELTA AIR: Wellington Mgt. Has 6.95% Equity Stake

DELTA AIR: AllianceBernstein Reveals 6.8% Equity Stake
DELTA AIR: Blackrock Inc. has 6.78% Equity Stake
ECOLY INTERNATIONAL: Taps Eckert Seamans as IP Counsel
ECOLY INTERNATIONAL: Taps Crowe Horwath as Tax Advisor
ELLICOTT SPRINGS: Court Approves Connolly as Trustee's Counsel

EMIVEST AEROSPACE: Must Find New Buyer by April 6
ENIVA USA: Section 341(a) Meeting Slated for April 11
ENIVA USA: Court Approves GuideSource as Financial Consultant
ENIVA USA: Court Approves Ravich Meyer as Bankruptcy Counsel
ENVIRONMENTAL INFRASTRUCTURE: Xiom Files for Ch. 7 Liquidation

EVERGREEN TRANSPORTATION: Administrator Wants Case Dismissed
FGIC CORP: Given Plan-Filing Exclusivity Until July 1
GATEWAY HOTEL: Case Summary & 20 Largest Unsecured Creditors
GENERAL MOTORS: Judge Signs Old GM Plan Confirmation Order
GM 14TH: Voluntary Chapter 11 Case Summary

GRAMERCY PARK: Case Summary & 20 Largest Unsecured Creditors
GREENBRIER COS: Expects to Report $286-Mil Revenue in Feb. 28 Qtr
GRAMERCY PARK LAND: Files for Bankruptcy to Stop Foreclosure Sale
GREEN ENDEAVORS: Swings to $43,939 Net Income in 2010
GRUBB & ELLIS: Gets $18MM Financing Commitment From Colony Capital

HARRY & DAVID: Receives Court Approval of First Day Motions
HARRY & DAVID: Moody's Downgrades Default Rating to 'D'
HEALTH ADVENTURE: Files for Chapter 11, Plans to Remain Open
HOPE SPRINGS: Looking for Buyers; Exploring Other Options
HORIZON LINES: Incurs $57.97 Million Net Loss in 2010

HORIZON LINES: Moody's Downgrades Corp. Family Rating to 'Caa3'
HOSPITAL DAMAS: Nears Plan Filing; Seeks Exclusivity Extension
HOSPITAL DAMAS: Curpill Firm Seeks $84T for Dec.-March Work
HOSPITAL DAMAS: Creditors Panel Has OK to Probe Fundacion
IL LUGANO: Hearing on Adequate Protection Motion Continued

IMPERIAL INDUSTRIES: Incurs $1.23 Million Net Loss in 2010
INNKEEPERS USA: Plan Exclusivity Extended Until June 30
INTERNATIONAL ENERGY: Case Summary & Creditors List
JAMES RIVER: Completes Sale of 7.47MM Common Shares for $170.73MM
JAMES RIVER: Sells $230-Mil. Notes; Over-Allotment Exercised

JAMES RIVER: Nets $268.81-Mil. from Sale of Senior Notes
JOY INVESTMENT: Case Summary & 20 Largest Unsecured Creditors
KEELEY AND GRABANSKI: Bankr. Judge Weighs to Appoint Trustee
KINGS RANCH: Involuntary Chapter 11 Case Summary
KRYSTAL KOACH: Taps El Molino as Estate Representative

KRYSTAL KOACH: Wants Committee to Pursue Avoidance Suits
LEHMAN BROTHERS: U.S. Bank, et al., Appeal ADR Approval Order
LEHMAN BROTHERS: To Seek Partner on Real Estate Devt. Projects
LEHMAN BROTHERS: Defends Bankruptcy Plan for 3 Calif. Devts.
LEHMAN BROTHERS: Lehman, Five Mile to Make 1st Bid for Innkeepers

LOCAL INSIGHT: Wins Extension of Chapter 11 Exclusivity
LYONDELL CHEMICAL: Highland Suit vs. UBS Moved to Bankr. Court
MA BB OWEN: Paid $27,248 to Affiliate a Year Before Bankruptcy
MAD CORP: Files for Chapter 11 for 2nd Time This Year
MAD CORP: Voluntary Chapter 11 Case Summary

MEDICAL STAFFING: Wins Approval of Liquidating Chapter 11 Plan
MERIDIAN MORTGAGE: Trustee's Plan Projects At Least 15% Recovery
MIG 193: Case Summary & 2 Largest Unsecured Creditors
NETBANK INC: Former Execs. Seek Ruling on Investors' Hedge Claims
MIKE V REAL ESTATE: U.S. Trustee Unable to Form Creditors Panel

NEW STREAM: Objectors Seek Standing and Discovery
NORTH AMERICAN: Has Until July 31 to File Chapter 11 Plan
NORTHWEST OIL: Case Summary & 20 Largest Unsecured Creditors
NOVADEL PHARMA: Incurs $2.66 Million Net Loss in 2010
OREGON COAST: Faces Threat of Chapter 11 Bankruptcy

PARMALAT SPA: Italian Court Refuses to Fast-Track Tanzi's Trial
PARMALAT SPA: Settles Disputes With PPL Partecipacoes
PARMALAT SPA: Creditors Convert Warrants for 2,539,389 Shares
PATRIOT NATIONAL: Closes Asset Sale ES Ventures for $60-Mil.
POINT BLANK: Former CEO Fails in Bid to Halt Deregistration

POMPANO CREEK: Files List of 5 Largest Unsecured Creditors
POMPANO CREEK: Files Schedules of Assets and Liabilities
PRM REALTY: Case Conversion Hearing Slated for May 6
R G & G: Case Summary & 20 Largest Unsecured Creditors
SANSWIRE CORP: Inks Settlement Pact With TAO Technologies, et al.

SASA GROUP: Voluntary Chapter 11 Case Summary
SHUBH HOTELS PITTSBURGH: Court Approves Settlement
SINOBIOMED INC: CEO Yu Has Option to Buy 5 Million Common Shares
SOUTHWESTERN PENNSYLVANIA: Case Summary & Creditors List
SPARTAN HOLDING: Voluntary Chapter 11 Case Summary

SRKO FAMILY: Taps Littleton & Project One as REIT Consultants
STAFFORD FURNITURE: Voluntary Chapter 11 Case Summary
SUMMIT BUSINESS: To Present Plan for Confirmation on May 5
TALON INTERNATIONAL: Incurs $1.46 Million Net Loss in 2010
TALON THERAPEUTICS: Incurs $25.98 Million Net Loss in 2010

TERRESTAR NETWORKS: U.S. Bank Blasts Creditors Over FCC Licenses
TEXAS RANGERS: Lender Files Suit Against KPMG LLP
THOMPSON PUBLISHING: Plan Confirmation Hearing Set for May 11
UNIVERSAL SOLAR: W. Chen Resigns as Interim Chief Fin'l Officer
TRIBUNE CO: Committee Wants to Amend "Termination Event"

TRIBUNE CO: Sam Zell Seeks Clarification on Rule 9011 Motion
TRIBUNE CO: Opposes S. Gellman's $1.75-Mil. Admin. Claim
TRIBUNE CO: Noteholders File Second Amended Plan
TRIBUNE CO: Wins Approval to Pay D&O Defense Costs
TRIBUNE CO: Court Expands Scope of E&Y Work as Tax Advisor

USEC INC: John Donelson Disposes of 30,000 Common Shares
W.R. GRACE: Committees, Firms Object to Garlock Plea for Documents
W.R. GRACE: Court OKs Professional Fees for July to September
W.R. GRACE: Implements Price Increases in Darex Business
XIOM CORP: Files for Chapter 7 Liquidation

XODTEC LED: Restates Quarterly Reports for 2010

* S&P: Fewer Firms Defaulted in 2010 as Markets Stabilized

* Liner Grode Stein Hires Brian D. Kilb as Partner

* InCharge Education to Exhibit at a Consumer Bankruptcy Seminar

* Recent Small-Dollar & Individual Chapter 11 Filings

                            *********


808 ASHLAND: Case Summary & 5 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: 808 Ashland Living Trust, Business Trust
        5425 Santa Monica Blvd., Suite 202
        Los Angeles, CA 90029

Bankruptcy Case No.: 11-23037

Chapter 11 Petition Date: March 28, 2011

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

Judge: Ellen Carroll

Debtor's Counsel: William H. Brownstein, Esq.
                  WILLIAM H. BROWNSTEIN & ASSOCIATES, P.C.
                  1250 Sixth St Ste 205
                  Santa Monica, CA 90401
                  Tel: (310) 458-0048
                  Fax: (310) 576-3581
                  E-mail: Brownsteinlaw.bill@gmail.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 five largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/cacb11-23037.pdf

The petition was signed by Bahman Hariri, trustee of business
trust.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
5425 SMB Ltd., A Califonria L.P.       10-12853   06/08/10


AGY HOLDING: Incurs $14.57 Million Net Loss in 2010
---------------------------------------------------
AGY Holding Corp. reported net income of $3.06 million on
$43.23 million of net sales for the three months ended Dec. 31,
2010, compared with a net loss of $50.39 million on $39.67 million
of net sales for the same period a year ago.  The Company also
reported a net loss of $14.57 million on $183.67 million of net
sales for the year ended Dec. 31, 2010, compared with a net loss
of $93.51 on $153.85 million of net sales during the prior year.

The Company's balance sheet at Dec. 31, 2010 showed
$298.68 million in total assets, $273.37 million in total
liabilities, $3.40 million in commitments and contingencies, and
$21.91 million in total shareholders' equity.

"2010 was a transitional year for AGY, and we are pleased with
what we accomplished over the full year," commented Doug
Mattscheck, chief executive officer.  "The return to sales growth
with a 19.4% top line increase and $22.4 million improved EBITDA
generation reflect the successful actions we have been
implementing over the last two years to drive margin improvement,
develop a more efficient cost structure, improve manufacturing
productivity and lower working capital requirements," Mattscheck
continued.  "We believe we are now well positioned to capture
additional value that our products and technology deliver through
commercial focus on improved mix and increased pricing."

A full-text copy of the press release announcing the financial
results is available for free at http://is.gd/UbIISs

                         About AGY Holding

AGY Holding Corp. -- http://www.agy.com/-- produces fiberglass
yarns and high-strength fiberglass reinforcements used in
composites applications.  AGY serves a range of markets including
aerospace, defense, electronics, construction and industrial.
Headquartered in Aiken, South Carolina, AGY has a European office
in Lyon, France and manufacturing facilities in the U.S. in Aiken,
South Carolina and Huntingdon, Pennsylvania and a controlling
interest in a manufacturing facility in Shanghai, China.

                           *     *     *

AGY Holding carries a 'CCC+' corporate credit rating from Standard
& Poor's Ratings Services.  In December 2009, S&P lowered the
rating to 'CCC+' from 'B'.  "The downgrade follows S&P's ongoing
concern on operating performance, including S&P's expectation for
very weak credit metrics for 2009, weak liquidity relative to
interest payments and operating requirements in 2010, and
integration concerns related to the large $72 million acquisition
-- with a $20 million cash component -- of AGY Hong Kong Ltd.,"
said Standard & Poor's credit analyst Paul Kurias.


AMBAC FIN'L: Judge Robertson Named Mediator for IRS Dispute
-----------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Ambac Financial Group Inc. and the Internal Revenue
Service agreed on the appointment of retired U.S. District Judge
James Robertson to serve as mediator.  Ambac, promptly after
its bankruptcy filing, sued to stop the IRS from taking back
$700 million in tax refunds already paid.  In February the
bankruptcy judge told the IRS and Ambac to select a mediator.

                       About Ambac Financial

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

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

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

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

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

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

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

Anthony Princi, Esq., Gary S. Lee, Esq., and Brett H. Miller,
Esq., at Morrison & Foerster LLP, in New York, serve as counsel
to the Official Committee of Unsecured Creditors.  Lazard Freres
& Co. LLC is the Committee's financial advisor.


AMERICAN APPAREL: CEO Gets 6 Mil. Shares for Cash, Notes
--------------------------------------------------------
American Apparel, Inc., and Dov Charney, the Company's chairman of
the Board and chief executive officer, entered into, and closed
the transactions under, a purchase agreement pursuant to which:

   (i) Mr. Charney purchased from the Company an aggregate of
       1,801,802 shares of the Company's common stock, par value
       $.0001 per share, at a price of $1.11 per share, for
       aggregate cash consideration of approximately $2.0 million
       in cash; and

  (ii) the three promissory notes issued by two subsidiaries of
       the Company to Mr. Charney, which as of March 24, 2011,
       had an aggregate of approximately $4.7 million, including
       principal and accrued and unpaid interest outstanding were
       canceled in exchange for an issuance by the Company of an
       aggregate of 4,223,194 shares of Common Stock at a price
       of $1.11 per share, with 50% of such Note Shares being
       issued at the Closing and the remaining Note Shares
       issuable to Mr. Charney only if prior to the third
       anniversary of the Closing date (x) the closing sale price
       of the Common Stock on the NYSE Amex exceeds $3.50 for 30
       consecutive trading days or (y) there is a change of
       control of the Corporation, as defined in the Purchase
       Agreement.

                          New Lion Warrant

In connection with the Closing, on March 24, 2011, in accordance
with the previously disclosed Fifth Amendment, dated Feb. 18,
2011, to the Credit Agreement, dated as of March 13, 2009, among
American Apparel, Inc., certain subsidiaries of the Company as
facility guarantors, Wilmington Trust FSB, in its capacity as
administrative agent and in its capacity as collateral agent
thereunder, Lion Capital (Americas) Inc., as a lender, and
Lion/Hollywood L.L.C., as a lender, and the other lenders from
time to time party thereto, the Corporation issued to Lion a new
warrant, which expires in 2018 and is exercisable at any time
during its term, to purchase an aggregate of 759,809 shares of
Common Stock at an exercise price of $1.11 per share, as such
price may be adjusted from time to time pursuant to the
adjustments specified in the New Lion Warrant or the Credit
Agreement.

If the Contingent Shares are issued to Mr. Charney pursuant to the
Purchase Agreement, the Fifth Amendment would require the
Corporation to issue to Lion an additional new warrant to purchase
shares of Common Stock, as described in the Fifth Amendment.

               Amendment to Existing Lion Warrant

Also on March 24, 2011, in accordance with the Fifth Amendment,
the Corporation and Lion entered into an amendment to the warrant
issued to Lion on March 13, 2009 which, among other things,
extended the term of the Existing Lion Warrant to Feb. 18, 2018
and reduced the exercise price of the Existing Lion Warrant to
$1.11, as such price may be adjusted from time to time pursuant to
the adjustments specified in the Existing Lion Warrant or the
Credit Agreement.  The effectiveness of the Existing Lion Warrant
Amendment is subject to the approval by the Corporation's
stockholders of the exercise price adjustment and the potential
issuance of additional shares of Common Stock contemplated by the
Existing Lion Warrant Amendment.

In an amended Schedule 13D filing with the U.S. Securities and
Exchange Commission, Mr. Charney disclosed that he beneficially
owns 44,923,088 shares of common stock representing 56.8% equity
stake based on the Company having 79,109,694 shares of Common
Stock outstanding as of March 24, 2011.

                       About American Apparel

Los Angeles, Calif.-based American Apparel, Inc. (NYSE Amex: APP)
-- http://www.americanapparel.com/-- is a vertically integrated
manufacturer, distributor, and retailer of branded fashion basic
apparel.  As of Sept. 30, 2010, American Apparel employed over
10,000 people and operated 278 retail stores in 20 countries,
including the United States, Canada, Mexico, Brazil, United
Kingdom, Ireland, Austria, Belgium, France, Germany, Italy, the
Netherlands, Spain, Sweden, Switzerland, Israel, Australia, Japan,
South Korea and China.

The Company's balance sheet at Sept. 30, 2010, showed
$322.7 million in total assets, $231.3 million in total
liabilities, and stockholders' equity of $91.4 million.

American Apparel disclosed in its quarterly report on Form 10-Q
for the third quarter of 2010 that based upon results of
operations for the nine months ended Sept. 30, 2010, and through
the issuance of the financial statements and projected for the
remainder of 2010, the Company may not have sufficient liquidity
necessary to sustain operations for the next twelve months, and
that it is probable that beginning Jan. 31, 2011, the Company will
not be in compliance with the minimum Consolidated EBITDA covenant
under the $80,000,000 term loan with Lion Capital LLP.

"Noncompliance with covenants under the Lion Credit Agreement
would constitute an event of default under the BofA Credit
Agreement, which, if not waived, could block the Company from
making borrowings under the BofA Credit Agreement," the Company
said in the filing.  "These factors, among others, raise
substantial doubt that the Company will be able to continue as a
going concern."


APPLESEED'S INTERMEDIATE: Court OKs $90-Mil. Exit Loan Agreement
----------------------------------------------------------------
Bankruptcy Law360 reports that bankrupt affiliates of Orchard
Brands Corp. received bankruptcy court approval Tuesday in
Delaware to enter into a new exit financing agreement with PNC
Bank NA that provides better terms than a previous deal with other
lenders.  PNC Bank NA is offering a $90 million credit, $10
million more than the previous offer from UBS Loan Finance LLC,
Wells Fargo Bank NA, and Ally Commercial Finance LLC.  The judge
approved the commitment agreement.  The loan itself would be
approved as part of the process of confirming the Chapter 11 plan.

                    About Appleseed's Intermediate

Based in Beverly, Massachusetts, Appleseed's Intermediate Holdings
LLC, aka Appleseed's Intermediate Holdings, Inc., aka Orchard
Brands sells clothing to people 55 and older.  Orchard Brands has
17 brands including Appleseed's, Draper's & Damon's, Gold Violin,
Haband and Norm Thompson.  It publishes catalogs and has stores
under its Appleseed's and Draper's & Damon's brands.  It has
annual sales of about $1 billion and earnings before interest,
taxes, depreciation and amortization are about $50 million.

Appleseed's is owned by Golden Gate Capital Corp., which also
holds stakes in retailers Express Inc., Eddie Bauer Holdings Inc.
and Zale Corp.

Appleseed's Intermediate and its affiliates filed for Chapter 11
bankruptcy protection (Bankr. D. Del. Lead Case No. 11-10160) on
Jan. 19, 2011.  Appleseed's Intermediate estimated assets at
$100 million to $500 million and debts at $500 million to $1
billion in its Chapter 11 petition.

Richard M. Cieri, Esq., Joshua A. Sussberg, Esq., at Brian E.
Schartz, at Kirkland & Ellis LLP, serve as the Debtors' bankruptcy
counsel.  Domenic E. Pacitti, Esq., at Klehr Harrison Harvey
Branzburg LLP, serves as local counsel to the Debtors.  Moelis &
Company LLC is the Debtors' investment banker and financial
advisor.  Alvarez & Marshal North America, LLC, is the Debtors'
restructuring advisor.  Pricewaterhousecoopers LLP is the Debtors'
independent auditor.  Kurtzman Carson Consultants LLC is the
notice, claims and balloting agent.

Jay R Indyke, Esq., Cathy Hershcopf, Esq., Brent Weisenberg, Esq.,
and Richelle Kalnit, Esq., at Cooley LLP, in New York, and Robert
K Malone, Esq., Michael P Pompeo, Esq., and Howard A Cohen, Esq.,
at Drinker Biddle & Reath LLP, in Wilmington, Delaware, represent
the Official Committee of Unsecured Creditors.


BANNING LEWIS: Court Extends Plan Filing Date to May 31
-------------------------------------------------------
The Hon. Kevin J. Carey of the U.S. Bankruptcy Court for the
District of Delaware extended until May 31, 2011, the exclusive
period for The Banning Lewis Ranch Company, LLC and Banning Lewis
Ranch Development I & II, LLC, to file a plan.  The Debtors'
exclusive period within which to solicit acceptances to a plan is
also extended to July 30, 2011.

                       About Banning Lewis

Banning Lewis Ranch Co. is the owner of the undeveloped portion of
a 21,000-acre ranch in Colorado Springs, Colo.   Banning Lewis
Ranch is a master-planned community in Colorado Springs, Colorado.
The first section built, the 350-acre Northtree Village, opened in
September 2007 and will have 1,000 homes priced from the high
$100,000s to the mid-$300,000s.

Banning Lewis Ranch filed for Chapter 11 bankruptcy protection
from creditors (Bankr. D. Del. Case No. 10-13445) on Oct. 28,
2010.  It estimated assets of $50 million to $100 million and
debts of $100 million to $500 million in its Chapter 11 petition.

An affiliate, Banning Lewis Ranch Development I & II, LLC, also
filed for Chapter 11 (Bankr. D. Del. Case No. 10-13446).

Kevin Scott Mann, Esq., at Cross & Simon, LLC, serves as counsel
to the Debtors.  Edward A. Phillips of Eisner Amper LLP has been
retained as the Company's chief restructuring officer.


BANNING LEWIS: Has Until May 26 to Decide on Leases
---------------------------------------------------
The Hon. Kevin J. Carey of the U.S. Bankruptcy Court for the
District of Delaware gave The Banning Lewis Ranch Company, LLC and
Banning Lewis Ranch Development I & II, LLC, until May 26, 2011,
to assume, assume and assign, or reject unexpired non-residential
real property leases.

                       About Banning Lewis

Banning Lewis Ranch Co. is the owner of the undeveloped portion of
a 21,000-acre ranch in Colorado Springs, Colo.   Banning Lewis
Ranch is a master-planned community in Colorado Springs, Colorado.
The first section built, the 350-acre Northtree Village, opened in
September 2007 and will have 1,000 homes priced from the high
$100,000s to the mid-$300,000s.

Banning Lewis Ranch filed for Chapter 11 bankruptcy protection
from creditors (Bankr. D. Del. Case No. 10-13445) on Oct. 28,
2010.  It estimated assets of $50 million to $100 million and
debts of $100 million to $500 million in its Chapter 11 petition.

An affiliate, Banning Lewis Ranch Development I & II, LLC, also
filed for Chapter 11 (Bankr. D. Del. Case No. 10-13446).

Kevin Scott Mann, Esq., at Cross & Simon, LLC, serves as counsel
to the Debtors.  Edward A. Phillips of Eisner Amper LLP has been
retained as the Company's chief restructuring officer.


BARNES BAY: Final DIP Financing Hearing on April 12
---------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Barnes Bay Development Ltd. received interim approval
for secured financing provided by an affiliate of Starwood Capital
Group LLC, the secured lender owed $370 million.  Final approval
for the $5 million financing is scheduled for April 12.

Mr. Rochelle notes that Greenwich, Connecticut-based Starwood
acquired the secured debt in October.  The loan agreement gives
Starwood the right to bid the secured debt rather than cash at any
sale of the property, through a Chapter 11 plan or otherwise.  The
resort already filed a motion to set up an auction in Anguilla on
May 24.

Mr. Rochelle notes that to comply with Anguilla law, there cannot
be a contract before the auction.  The sale is to be completed
through confirmation of a Chapter 11 plan.

Beverly Hills, California-based Barnes Bay Development Ltd. owns
the Viceroy Anguilla Resort & Residences on the British West
Indies island of Anguilla.  It filed for Chapter 11 bankruptcy
protection on March 17, 2011 (Bankr. D. Del. Case No. 11-10792).
The Company disclosed that as of as of Dec. 31, 2010, it had
$531 million in assets and $462 million in debt.


BENEDETTO LLC: Case Summary & 5 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Benedetto, LLC
        933 25th Street
        Santa Monica, CA 90403

Bankruptcy Case No.: 11-23048

Chapter 11 Petition Date: March 28, 2011

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

Judge: Thomas B. Donovan

Debtor's Counsel: M Jonathan Hayes, Esq.
                  LAW OFFICE OF M JONATHAN HAYES
                  9700 Reseda Bl Ste201
                  Northridge, CA 91324
                  Tel: (818) 882-5600
                  Fax: (818) 882-5610
                  E-mail: jhayes@polarisnet.net

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

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

A list of the Company's five largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/cacb11-23048.pdf

The petition was signed by Atef "Mike" Abdou, managing and sole
member.


BERNARD L MADOFF: Trustee Wins OK for Sale of Yacht 'Bull'
----------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the trustee for Bernard L. Madoff Investment
Securities Inc. received approval in bankruptcy court March 29 for
a settlement allowing for the eventual sale of the yacht "Bull,"
which had been tied up in lawsuits in several countries, including
the U.S. and U.K.

Mr. Rochelle relates that a creditor, Financiere Meeschaert SA,
agreed to pay $500,000 while dropping lawsuits that were
preventing disposition of the yacht.  Evidently, the creditor was
convinced it would lose litigations and end up paying its
adversaries more in reimbursements of their attorneys' fees.  In
countries other than the U.S., the loser in a lawsuit often is
required to pay the winner's counsel fees.

The Madoff trustee, according to the report, said the settlement
will allow the joint liquidators in the U.K. side of the Madoff
liquidation to sell the yacht.  The trustee said he ultimately
would distribute proceeds of the sale to customers.

Mr. Rochelle notes that a group of creditors is moving forward
with its appeal from an order issued in February by the bankruptcy
judge, who ruled that customers were improperly pursuing lawsuits
that belonged to the trustee.

                      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 Dec. 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 Feb. 18, 2011, a total of US$6.85 billion in claims by
investors has been allowed, with US$791.1 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: NY Times Wants Disclosure of Bankers' Names
-------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the New York Times and several television outlets
owned by NBC Universal LLC gave the bankruptcy judge a 20-page
letter explaining why he should unseal the remainder of complaints
by the trustee for Bernard L. Madoff Investment Securities Inc.
against financial institutions.  The complaints filed in December
were unsealed except for the names of people who worked for the
defendant banks.   The Times says that U.S. law allows disclosure
of the names of individuals mentioned in lawsuits although not
accused of wrongdoing.  The newspaper said the only names
routinely omitted from public disclosure are those of minors,
undercover policemen, and sexual assault victims.

                      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 Dec. 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 Feb. 18, 2011, a total of US$6.85 billion in claims by
investors has been allowed, with US$791.1 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.


BIOLIFE SOLUTIONS: Incurs $1.98 Million Net Loss in 2010
--------------------------------------------------------
Biolife Solutions, Inc., filed with the U.S. Securities and
Exchange Commission its annual report on Form 10-K, reporting a
net loss of $1.98 million on $2.08 million of total revenue for
the year ended Dec. 31, 2010, compared with a net loss of $2.77
million on $1.58 million of total revenue during the prior year.

The Company's balance sheet at Dec. 31, 2010 showed $1.31 million
in total assets, $10.86 million in total liabilities, and
$9.55 million in total shareholders' deficiency.

Peterson Sullivan LLP, in Seattle, Wash., expressed substantial
doubt about the Company's ability to continue as a going concern.
The accounting firm noted that the Company has been unable to
generate sufficient income from operations in order to meet its
operating needs and has an accumulated deficit of approximately
$52 million at Dec. 31, 2010.

A full-text copy of the annual report on Form 10-K is available
for free at http://is.gd/kNDFEr

                      About BioLife Solutions

Bothell, Washington-based BioLife Solutions, Inc. develops and
markets patented hypothermic storage and cryopreservation
solutions for cells, tissues, and organs, and provides contracted
research and development and consulting services related to
optimization of biopreservation processes and protocols.


BJN, LLC: Case Summary & 2 Largest Unsecured Creditors
------------------------------------------------------
Debtor: BJN, LLC
        3360 Fontaine
        Memphis, TN 38116

Bankruptcy Case No.: 11-23212

Chapter 11 Petition Date: March 29, 2011

Court: U.S. Bankruptcy Court
       Western District of Tennessee (Memphis)

Judge: Paulette J. Delk

Debtor's Counsel: Paul A. Robinson, Jr., Esq.
                  LAW OFFICE PAUL ROBINSON
                  5 North Third, Suite 2000
                  Memphis, TN 38103
                  Tel: (901) 649-4053
                  Fax: (901) 328-1803
                  E-mail: problaw9@yahoo.com

Scheduled Assets: $1,460,780

Scheduled Debts: $2,260,734

A list of the Company's two largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/tnwb11-23212.pdf

The petition was signed by Willie Nelson, stockholder.

Debtor-affiliate that simultaneously filed separate Chapter 11
petition on March 29:

        Entity                        Case No.
        ------                        --------
BNP,LLC                               11-23213


BLOCKBUSTER INC: Says Liquidation Plan Maybe Not Possible
---------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Blockbuster Inc. admitted in a bankruptcy court
filing on March 18 that the ability to confirm even a liquidating
Chapter 11 plan "has not been determined."  Blockbuster was
referring to the requirement that all expenses of the Chapter 11
case must be paid in full before a plan is confirmed.  Blockbuster
told suppliers in late January that it couldn't pay for goods
shipped after the bankruptcy filing in September.

                     About Blockbuster Inc.

Based in Dallas, Texas, Blockbuster Inc. (Pink Sheets: BLOKA,
BLOKB) -- http://www.blockbuster.com/-- is a global provider of
rental and retail movie and game entertainment.  It has a library
of more than 125,000 movie and game titles.

Blockbuster Inc. and 12 U.S. affiliates initiated Chapter 11
bankruptcy proceedings with a pre-arranged reorganization plan
in Manhattan (Bankr. S.D.N.Y. Case No. 10-14997) on Sept. 23,
2010.  It disclosed assets of $1 billion and debts of $1.4 billion
at the time of the filing.

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

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

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

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

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


BLUE HERON: CenterCal Has $20 Million Offer for Mill Site
---------------------------------------------------------
Raymond Rendleman at The Oregon City News reports that a "stalking
horse" buyer has been revealed for Blue Heron Paper Company's mill
site.  The proposed buyer is CenterCal, developer of a
controversial landfill-topping shopping mall known as The Rivers.
CenterCal President Fred Bruning acknowledged that the company was
interested in the waterfront property for a mixed-use development
intended to be complementary, rather than in lieu of The Rivers.

The Oregon City News relates that U.S. Bankruptcy Court Judge
Randall L. Dunn at a hearing compared the $20 million CenterCal
was tentatively prepared to pay for the property with the $14
million owed to Blue Heron creditors and concluded that the
bankrupt company had potential to use its assets to prevent
insolvency.

After mandating the appointment of a Chapter 11 trustee this week,
Dunn set an April 1 hearing on the progress between the creditor
and debtor on a payment plan, says Mr. Rendleman.

                         About Blue Heron

Oregon City, Oregon-based Blue Heron Paper Company --
http://www.blueheronpaper.com/-- produces newsprint, and high
bright and heavyweight groundwood specialty printing papers.

Blue Heron filed for Chapter 11 protection (Bankr. D. Ore. Case
No. 09-40921) on Dec. 31, 2009.  David B. Levant, Esq., at Stoel
Rives LLP, in Portland, Oregon, serves as bankruptcy counsel to
the Debtor.  Attorneys at Barran Liebman LLP have been tapped as
labor and employment counsel.  The Debtor also hired Vanden Bos
& Chapman, LLP, as special counsel.  The Company estimated
$10 million to $50 million in assets and debts as of the Chapter
11 filing.


BORDERS GROUP: Agree Realty in Default on Borders-Backed Loans
--------------------------------------------------------------
Agree Realty Corp. stated that it is in default of three mortgage
loans, amounting to $8.9 million, secured by three properties
representing $1.3 million of annualized base rents as of Dec. 31,
2010 based on the Chapter 11 filing of Borders Group, Inc.,
according to Agree Realty's March 15, 2011, Form 10-K filing with
the U.S. Securities and Exchange Commission for the year ended
December 31, 2010.

"While the Chapter 11 bankruptcy filing of Borders is not a
direct event of default under the cross-collateralized mortgage
loans, we anticipate that the remaining loans will go into
default as a result of the scheduled store closures," Agree
Realty said.  Four mortgage loans, amounting to approximately
$9.6 million, are secured by four properties with 103,000 square
feet of gross leasable area or GLA, representing $2.1 million of
annualized base rents as of December 31, 2010.

Agree Realty noted that about 62% of its annualized base rent was
derived from its top three tenants: Walgreen Co., Borders Group,
Inc., and Kmart Corporation.  Borders occupies 20% of Agree
Realty's GLA.  "At December 31, 2010, Borders occupied
approximately 19% of our GLA and accounted for approximately 20%
of our annualized base rent," Agree Realty noted.  As of February
16, 2011, Borders announced it is shutting down of 200
superstores, which included five locations that it leases from
Agree Realty, representing $2.6 million of Agree Realty's
annualized base rent as of December 31, 2010.

A related report by A.D. Pruitt of Dow Jones Newswires noted that
Agree Realty has authorized a 22% reduction to its annual
dividend to $1.60, which reduction the Company attributed to
uncertainty surrounding Border's bankruptcy case.

For the fourth quarter of 2010, Agree Realty posted a loss of
$8.1 million noncash write-down charge related to Borders assets,
which masked a 8.5% increase in revenue, to $9.6 million, Dow
Jones Newswires noted.

Agree Realty is a fully integrated, self-administered and self-
managed real estate investment trust.  Incorporated in December
1993, the Company specializes in developing retail properties for
national tenants who have executed long-term net leases prior to
the commencement of construction.

                        About Borders Group

Borders Group is a leading operator of book, music and movie
superstores and mall-based bookstores.  At Jan. 29, 2011, the
Debtors operated 642 stores, under the Borders, Waldenbooks,
Borders Express and Borders Outlet names, as well as Borders-
branded airport stores in the United States, of which 639 stores
are located in the United States and 3 in Puerto Rico.  Two of
Borders' flagship stores (along with other less prominent stores)
are located in Manhattan.  In addition, the Debtors operate a
proprietary e-commerce Web site, http://www.Borders.com/,
launched in May 2008, which includes both in-store and online e-
commerce components.  As of Feb. 11, 2011, Borders employed a
total of 6,100 full-time employees, 11,400 part-time employees,
and approximately 600 contingent employees.

Borders Group Inc. and its affiliates filed for Chapter 11
protection (Bankr. S.D.N.Y. Case No. Lead Case No. 11-10614) in
Manhattan on Feb. 16, 2011.

David M. Friedman, Esq., David S. Rosner. Esq, Andrew K. Glenn,
Esq., and Jeffrey R. Gleit, Esq., at Kasowitz, Benson, Torres &
Friedman LLP, in New York, serve as counsel to the Debtors.
Jefferies & Company's Inc. is the financial advisor.  DJM Property
Management is the lease and real estate services provider.  AP
Services LLC is the interim management and restructuring services
provider.  The Garden City Group, Inc., is the claims and notice
agent.

Attorneys at Morgan, Lewis & Bockius LLP, and Riemer & Braunstein
LLP, serve as counsel to the DIP Agents.

National law firm Lowenstein Sandler has been appointed to
represent the official unsecured creditors committee for Borders
Group.  Bruce S. Nathan and Bruce Buechler, members of Lowenstein
Sandlers' Bankruptcy, Financial Reorganization & Creditors' Rights
Group, are leading the team.

The Debtor disclosed $1.28 billion in assets and $1.29 billion in
liabilities as of Dec. 25, 2010

Borders Group has sought approval to sell merchandise and owned
furniture, fixtures and equipment located at approximately 200 of
their stores and, at Borders' option, up to 75 of 136 potential
other stores, through store closing sales.

Bankruptcy Creditors' Service, Inc., publishes BORDERS GROUP
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by Borders Group Inc., the United States' second
largest bookstore chain.  (http://bankrupt.com/newsstand/or
215/945-7000)


BORDERS GROUP: Wiley & Sons Posts $9-Mil. Bad Debt Expense
----------------------------------------------------------
John Wiley & Sons, Inc., in the third quarter of fiscal year
2011, recorded a pre-tax bad debt provision of $9.3 million or
$0.10 per diluted share based on the status of its business
relationship with Borders Group, Inc. and the potential future
adverse financial events that may affect Borders.  The net charge
represents the difference between Wiley's outstanding receivable
with Borders and its expectation of potential offsets and
recoveries in the future, as well as existing reserves for
Borders.

Wiley made the disclosure in its March 14, 2011, Form 10-Q filing
with the U.S. Securities and Exchange Commission for the quarter
period ended January 31, 2011.

Wiley does not anticipate any additional charge or bad debt
expense with respect to Borders.

Wiley & Sons President and Chief Executive Officer William J.
Pesce said in a public statement that the Company stopped
shipping to Borders in December 2010.  Borders was projected to
account for less than 5% of Professional/Trade revenue of Wiley
in fiscal year 2011, down from more than 10% of revenue a few
years ago.

                        About Borders Group

Borders Group is a leading operator of book, music and movie
superstores and mall-based bookstores.  At Jan. 29, 2011, the
Debtors operated 642 stores, under the Borders, Waldenbooks,
Borders Express and Borders Outlet names, as well as Borders-
branded airport stores in the United States, of which 639 stores
are located in the United States and 3 in Puerto Rico.  Two of
Borders' flagship stores (along with other less prominent stores)
are located in Manhattan.  In addition, the Debtors operate a
proprietary e-commerce Web site, http://www.Borders.com/,
launched in May 2008, which includes both in-store and online e-
commerce components.  As of Feb. 11, 2011, Borders employed a
total of 6,100 full-time employees, 11,400 part-time employees,
and approximately 600 contingent employees.

Borders Group Inc. and its affiliates filed for Chapter 11
protection (Bankr. S.D.N.Y. Case No. Lead Case No. 11-10614) in
Manhattan on Feb. 16, 2011.

David M. Friedman, Esq., David S. Rosner. Esq, Andrew K. Glenn,
Esq., and Jeffrey R. Gleit, Esq., at Kasowitz, Benson, Torres &
Friedman LLP, in New York, serve as counsel to the Debtors.
Jefferies & Company's Inc. is the financial advisor.  DJM Property
Management is the lease and real estate services provider.  AP
Services LLC is the interim management and restructuring services
provider.  The Garden City Group, Inc., is the claims and notice
agent.

Attorneys at Morgan, Lewis & Bockius LLP, and Riemer & Braunstein
LLP, serve as counsel to the DIP Agents.

National law firm Lowenstein Sandler has been appointed to
represent the official unsecured creditors committee for Borders
Group.  Bruce S. Nathan and Bruce Buechler, members of Lowenstein
Sandlers' Bankruptcy, Financial Reorganization & Creditors' Rights
Group, are leading the team.

The Debtor disclosed $1.28 billion in assets and $1.29 billion in
liabilities as of Dec. 25, 2010

Borders Group has sought approval to sell merchandise and owned
furniture, fixtures and equipment located at approximately 200 of
their stores and, at Borders' option, up to 75 of 136 potential
other stores, through store closing sales.

Bankruptcy Creditors' Service, Inc., publishes BORDERS GROUP
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by Borders Group Inc., the United States' second
largest bookstore chain.  (http://bankrupt.com/newsstand/or
215/945-7000)


BORDERS GROUP: Lease Rejection Protocol Approved by Court
---------------------------------------------------------
The Bankruptcy Court approved proposed procedures to govern
Borders Group's rejection of unexpired leases, except to the
extent the Debtors and a lease counterparty have agreed otherwise
in writing.  In that case, the Debtors will provide notice of
their agreement with the particular lease counterparty to the
Official Committee of Unsecured Creditors.

                   Lease Rejection Protocol

The Debtors are parties to hundreds of unexpired leases,
including real property leases for their retail locations.  The
Debtors previously filed a motion seeking, among other things, to
sell certain assets through store closing sales and expect
closing 202 of their underperforming retail stores.

David M. Friedman, Esq., at Kasowitz, Benson, Torres & Friedman
LLP, in New York, asserts that although the Debtors are still
reviewing the Leases and may assume certain Leases in connection
with the administration of their Chapter 11 cases, there will
inevitably be a large number of Leases that no longer provide any
benefit to their estates and should be rejected.  To facilitate
an expeditious and efficient process for rejecting those
burdensome Leases, the Debtors proposed to implement these
procedures:

  (A) The Debtors will file on their Chapter 11 case dockets a
      notice setting forth the proposed rejection of one or more
      Leases, and will serve the Rejection Notice on: (i) the
      non-Debtor counterparty under the applicable Lease at the
      last known address available to the Debtors; (ii) counsel
      to the statutory committee of unsecured creditors
      appointed in these Chapter 11 cases; (iii) counsel for the
      DIP Agents: (x) Morgan, Lewis & Bockius LLP, counsel for
      the Working Capital Agent, (y) Riemer & Braunstein LLP,
      counsel for GA Capital LLC; (iv) Kelley Drye & Warren LLP,
      attorneys for certain landlords; (v) Lowenstein Sandler
      PC, attorneys for certain trade vendors; and (vi) the U.S.
      Trustee for Region 2.

  (B) With respect to non-residential real property Leases to be
      rejected, the Rejection Notice will set forth (i) the
      street address of real property that is the subject of the
      Lease, (ii) the remaining term of the Lease, and (iii) the
      name and address of the affected landlord.  With respect
      to personal property Leases to be rejected, the Rejection
      Notice will provide (i) the name and address of the Lease
      counterparty, and (ii) a brief description of the personal
      property Lease to be rejected.  All Rejection Notices will
      be accompanied by a copy of an order granting the
      Rejection Procedures Motion.

  (C) Should a party-in-interest object to the Debtors' proposed
      rejection of a Lease, that party must file an objection
      with the Court so as to be actually received by these
      parties within 10 days after the date the Rejection Notice
      is filed: (i) counsel for the Debtors, Kasowitz, Benson,
      Torres & Friedman LLP; (ii) the U.S. Trustee; (iii)
      counsel for the Creditors' Committee; (iv) counsel for the
      DIP Agents: (x) Morgan, Lewis & Bockius LLP, counsel for
      the Working Capital Agent, (y) Riemer & Braunstein LLP;
      (v) Kelley Drye & Warren LLP, attorneys for certain
      landlords; and (vi) Lowenstein Sandler PC, attorneys for
      certain trade vendors.

  (D) If no objection to a Rejection Notice is timely filed, the
      applicable Lease will be deemed rejected on the effective
      date set forth in the Rejection Notice, or, if no date is
      set forth, the date the Rejection Notice is filed with the
      Court.

  (E) If a timely objection to a Rejection Notice is filed and
      received in accordance with the Rejection Procedures, the
      Debtors will schedule a hearing on that objection and will
      provide at least five days' notice of that hearing to the
      objecting party and the Objection Notice Parties.  If the
      Court ultimately upholds the Debtors' determination to
      reject the applicable Lease, then the applicable Lease
      will be deemed rejected (i) as of the Rejection Date, or
      (ii) as otherwise determined by the Court.

  (F) Claims arising out of the rejection of Leases must be
      filed, on or before the later of (i) the deadline for
      filing proofs of claim established by the Court in the
      Debtors' Chapter 11 cases, or (ii) 45 days after the
      Rejection Date.  If no proof of claim is timely filed,
      such claimant will be forever barred from asserting a
      claim for rejection damages and from participating in any
      distributions that may be made in connection with these
      Chapter 11 cases.

  (G) If the Debtors have deposited funds with a Lease
      counterparty as a security deposit or other arrangement,
      the Lease counterparty may not setoff or otherwise use
      that deposit without the prior authority of the Court or
      agreement of the parties.

The proposed Rejection Procedures will essentially streamline the
Debtors' ability to reject burdensome Leases and thus, minimize
unnecessary postpetition obligations, while providing Lease
counterparties with adequate notice of the rejection of any Lease
and an opportunity to object to the rejection within a reasonable
time period, Mr. Friedman asserts.

Various parties raised objections to the proposed protocol.

                          Judge's Order

Judge Glenn clarified that his order is not to be construed (i)
to authorize the Debtors to violate or breach the terms of any
agreements with Seattle's Best Coffee, (ii) to grant any third
party, including without limitation any affected landlord, any
rights with respect to real or personal property that is the
subject of the Debtors' agreement with SBC, or (iii) to otherwise
impair SBC's rights under applicable law.  SBC expressly has the
right to object to any proposed abandonment of furniture,
fixtures, equipment, inventory, or other items or property that
are marked with or contain SBC trademarks, constitute or contain
SBC's trade dress or trade secrets or other proprietary
information, the Court ruled.

Similarly, nothing contained in the Court's order will in any way
impact the rights of Dallas/Fort Worth International Airport
Board to proceed against or collect on a Concessionaire's Bond
issued by SAFECO Insurance Company of America in favor of DFWIAB
to secure the performance of Borders Inc. under a Concession
Lease Agreement, Lease No. 238963, including a Board's Consent to
Assignment and Assumption of Lease No. 238963, Judge Glenn held.
DFWIAB is not required to seek the approval of this or any other
court's consent prior to proceeding against or collecting on the
Bond if and when permissible under the Lease, the Assignment, or
the Bond, Judge Glenn added.

Judge Glenn further held that no personal property subject to a
true lease will be abandoned without first rejecting the
underlying lease for that property.  If the Debtors propose to
abandon personal property that is (i) subject to a true lease,
and (ii) located at premises that is the subject of a Rejection
Notice, the Rejection Notice will indicate the same, and the
automatic stay will be deemed modified to permit the personal
property lessor to retrieve the abandoned property within seven
days of the date the Rejection Notice is filed.  Any Rejection
Notice will be served on the personal property lessor at the
same time it is served on all Rejection Notice Parties.

The right of any Landlord to assert an administrative expense
claim for the costs of removal of abandoned property, damages to
the premises arising from any going out of business sale, or
damages to the premises arising from the removal of personal
property by the Debtors, in accordance with the Court's order, is
fully preserved, as is the Debtors' right to challenge the
validity, amount or priority of any claim.

                        About Borders Group

Borders Group is a leading operator of book, music and movie
superstores and mall-based bookstores.  At Jan. 29, 2011, the
Debtors operated 642 stores, under the Borders, Waldenbooks,
Borders Express and Borders Outlet names, as well as Borders-
branded airport stores in the United States, of which 639 stores
are located in the United States and 3 in Puerto Rico.  Two of
Borders' flagship stores (along with other less prominent stores)
are located in Manhattan.  In addition, the Debtors operate a
proprietary e-commerce Web site, http://www.Borders.com/,
launched in May 2008, which includes both in-store and online e-
commerce components.  As of Feb. 11, 2011, Borders employed a
total of 6,100 full-time employees, 11,400 part-time employees,
and approximately 600 contingent employees.

Borders Group Inc. and its affiliates filed for Chapter 11
protection (Bankr. S.D.N.Y. Case No. Lead Case No. 11-10614) in
Manhattan on Feb. 16, 2011.

David M. Friedman, Esq., David S. Rosner. Esq, Andrew K. Glenn,
Esq., and Jeffrey R. Gleit, Esq., at Kasowitz, Benson, Torres &
Friedman LLP, in New York, serve as counsel to the Debtors.
Jefferies & Company's Inc. is the financial advisor.  DJM Property
Management is the lease and real estate services provider.  AP
Services LLC is the interim management and restructuring services
provider.  The Garden City Group, Inc., is the claims and notice
agent.

Attorneys at Morgan, Lewis & Bockius LLP, and Riemer & Braunstein
LLP, serve as counsel to the DIP Agents.

National law firm Lowenstein Sandler has been appointed to
represent the official unsecured creditors committee for Borders
Group.  Bruce S. Nathan and Bruce Buechler, members of Lowenstein
Sandlers' Bankruptcy, Financial Reorganization & Creditors' Rights
Group, are leading the team.

The Debtor disclosed $1.28 billion in assets and $1.29 billion in
liabilities as of Dec. 25, 2010

Borders Group has sought approval to sell merchandise and owned
furniture, fixtures and equipment located at approximately 200 of
their stores and, at Borders' option, up to 75 of 136 potential
other stores, through store closing sales.

Bankruptcy Creditors' Service, Inc., publishes BORDERS GROUP
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by Borders Group Inc., the United States' second
largest bookstore chain.  (http://bankrupt.com/newsstand/or
215/945-7000)


BORDERS GROUP: Wins OK for AP Services as Crisis Managers
---------------------------------------------------------
Borders Group Inc. and its units received the U.S. Bankruptcy
Court's authority to:

  (a) employ AP Services LLC nunc pro tunc to the Petition Date
      to provide them interim management and restructuring
      services pursuant to Section 363 of the Bankruptcy Code;
      and

  (b) designate Ken Hiltz of AlixPartners LLP and as associated
      with APS as their senior vice president for restructuring.

The parties have entered into an engagement letter where APS has
agreed that Ken Hiltz will serve as the Debtors' SVPR.  Lisa
Donahue will act as Supervising Partner.  Working collaboratively
with the Debtors' senior management team and board of directors,
as well as the Debtors' other professionals, Mr. Hiltz and Ms.
Donahue will assist the Debtors in evaluating and implementing
strategic and tactical options through the restructuring process.
APS has also agreed to provide certain temporary staff to assist
Mr. Hiltz and the Debtors in their restructuring efforts.

As restructuring advisors, the Debtors expect Mr. Hiltz and the
Temporary Staff to, among other things:

  (a) assist management in the development and implementation
      of a restructuring strategy designed to maximize
      enterprise value, taking into account the unique
      interests of all constituencies;

  (b) work with them and their team to further identify and
      implement both short-term and long-term liquidity
      generating initiatives, including forecasting and
      reporting cash flow performance during a potential chapter
      11;

  (c) assist in overseeing the implementation of an operational
      restructuring plan that is designed to streamline the
      Debtors' cost base and efficiency of operations while
      preserving the Debtors' customer base, and that
      incorporates the constraints and opportunities resulting
      from a potential chapter 11 filing;

  (d) assist them in evaluating and implementing a store closing
      program under a chapter 11 bankruptcy filing scenario,
      together with other Debtor professionals;

  (e) assist them in implementing an improved inventory
      management program, given the constraints and
      opportunities resulting from a potential chapter 11
      filing;

  (f) assist the Debtors' management and its professionals
      specifically assigned to sourcing, negotiating and
      implementing any financing, including debtor-in-possession
      and exit financing facilities, in conjunction with the
      Plan of Reorganization and the overall restructuring;

  (g) assist with the preparation of the statement of affairs,
      schedules and other regular reports required by the
      Bankruptcy Court;

  (h) provide assistance in such areas as testimony before the
      Bankruptcy Court on matters that are within APS' areas
      of expertise;

  (i) manage the claims and claims reconciliation processes; and

  (j) assist with other matters as may be requested that fall
      within APS's expertise and that are mutually agreeable.

The Engagement Letter contains standard indemnification language
with respect to APS's services.

The standard hourly rates charged by APS professionals
anticipated to be assigned to the Debtors' cases are:

  Name              Description               Hourly Rate
  ----              -----------               -----------
  Ken Hiltz         Sr. VP-Restructuring           $855

  Lisa Donahue      Supervising Partner            $895

  Holly Etlin       GOB Sales                      $855

  Pilar Tarry       Ch.11 Admin. Lead              $645

  Eva Anderson      SG&A Cost Reduction            $695

  Ojas Shah         Weekly Cash/Business           $560
                    Planning Model Lead

  Clayton Gring     Ch.11 Admin. Lead              $560

  Keith Jelinek     Revenue and Merchandise        $695
                    Performance Improvement

  Adam Hollerbach   Revenue and Merchandise        $440
                    Performance Improvement

  Robby Spigner     Financial Analysis Support     $395

  Todd Brents       Bankruptcy Process and         $790
                    Operational Support Roles

  Tom Studebaker    Bankruptcy Process and         $560
                    Operational Support Roles

  Jarod Clarrey     Bankruptcy Process and         $415
                    Operational Support Roles

  Jeff Webb         Bankruptcy Process and         $600
                    Operational Support Roles

  Jonathan O'Reilly Bankruptcy Process and         $490
                    Operational Support Roles

The Debtors also proposed to reimburse APS, upon receipt of
periodic billings, for all reasonable and necessary expenses
incurred in connection with their Chapter 11 cases, including
transportation costs, lodging, food, telephone, copying, and
messenger services.

Moreover, the Debtors and APS have agreed on success fee
compensation based on certain metrics.  The Debtors will pay a
Success Fee:

  (i) If the Debtors file a plan of reorganization which is
      confirmed and the Debtors emerge from bankruptcy within
      six months of filing for bankruptcy, APS will be paid a
      Success Fee for $2 million.

(ii) If the Debtors file a plan of reorganization which is
      confirmed and the Debtors emerge from bankruptcy within 12
      months of filing for bankruptcy, APS will be paid a
      Success Fee for $1 million.

Because APS is not being employed as a professional under Section
327 of the Bankruptcy Code, it will not submit quarterly fee
applications pursuant to Sections 330 and 331 of the Bankruptcy
Code.  APS will, however, file with the Court, and provide notice
to the United States Trustee and all official committees, reports
of compensation earned and expenses incurred on at least a
quarterly basis.

APS received an initial retainer of $350,000 on Feb. 11, 2011,
from the Debtors.  Pursuant to the Engagement Letter, invoiced
amounts have been recouped against the Retainer, and payments on
the invoices have been used to replenish the Retainer.  During the
90-day period before the Petition Date, the Debtors paid APS a
total of $490,000 for fees incurred in providing services to the
Debtors in contemplation of, and in connection with, prepetition
restructuring activities.

Mr. Hiltz assures the Court that APS (i) is a "disinterested
person" within the meaning of Section 101(14) of the Bankruptcy
Code, (ii) does not hold or represent an interest adverse to the
Debtors' estates, and (iii) has no connection to the Debtors,
their creditors, or their related parties.

Mr. Hiltz disclosed his firm's connections to certain potential
parties-in-interest -- which include ACE American Insurance
Company, Akin Gump Straus Hauer & Feld, AT&T, Bank of New York
Mellon, CB Richard Ellis, CIT Bank, Comerica Bank, Deloitte Tax
LLP, Ernst & Young, FTI Consulting, General Growth Properties
Inc., Google Inc., Grant Thornton, JPMorgan Chase Bank NA,
Smurfit Stone Container, Sony Music Entertainment, Suntrust Bank,
UBS AG, U.S. Bank N.A., Verizon Communications, Zurich, among
others -- but maintained that those connections are in matters
not related to the Debtors' Chapter 11 cases.

                        About Borders Group

Borders Group is a leading operator of book, music and movie
superstores and mall-based bookstores.  At Jan. 29, 2011, the
Debtors operated 642 stores, under the Borders, Waldenbooks,
Borders Express and Borders Outlet names, as well as Borders-
branded airport stores in the United States, of which 639 stores
are located in the United States and 3 in Puerto Rico.  Two of
Borders' flagship stores (along with other less prominent stores)
are located in Manhattan.  In addition, the Debtors operate a
proprietary e-commerce Web site, http://www.Borders.com/,
launched in May 2008, which includes both in-store and online e-
commerce components.  As of Feb. 11, 2011, Borders employed a
total of 6,100 full-time employees, 11,400 part-time employees,
and approximately 600 contingent employees.

Borders Group Inc. and its affiliates filed for Chapter 11
protection (Bankr. S.D.N.Y. Case No. Lead Case No. 11-10614) in
Manhattan on Feb. 16, 2011.

David M. Friedman, Esq., David S. Rosner. Esq, Andrew K. Glenn,
Esq., and Jeffrey R. Gleit, Esq., at Kasowitz, Benson, Torres &
Friedman LLP, in New York, serve as counsel to the Debtors.
Jefferies & Company's Inc. is the financial advisor.  DJM Property
Management is the lease and real estate services provider.  AP
Services LLC is the interim management and restructuring services
provider.  The Garden City Group, Inc., is the claims and notice
agent.

Attorneys at Morgan, Lewis & Bockius LLP, and Riemer & Braunstein
LLP, serve as counsel to the DIP Agents.

National law firm Lowenstein Sandler has been appointed to
represent the official unsecured creditors committee for Borders
Group.  Bruce S. Nathan and Bruce Buechler, members of Lowenstein
Sandlers' Bankruptcy, Financial Reorganization & Creditors' Rights
Group, are leading the team.

The Debtor disclosed $1.28 billion in assets and $1.29 billion in
liabilities as of Dec. 25, 2010

Borders Group has sought approval to sell merchandise and owned
furniture, fixtures and equipment located at approximately 200 of
their stores and, at Borders' option, up to 75 of 136 potential
other stores, through store closing sales.

Bankruptcy Creditors' Service, Inc., publishes BORDERS GROUP
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by Borders Group Inc., the United States' second
largest bookstore chain.  (http://bankrupt.com/newsstand/or
215/945-7000)


BORDERS GROUP: Inks Agency Agreement for 26 Closed Stores
---------------------------------------------------------
Borders Group, Inc. entered into an agency agreement with a joint
venture governing the liquidation of the 26 additional Borders
stores, which store closing sales commenced on March 24, 2011.  A
list of the Closing Stores is available for free at:

    http://bankrupt.com/misc/Borders_26ClosingStores.pdf

Under the agency agreement, the joint venture composed of Hilco
Merchant Resources, LLC; SB Capital Group, LLC; Tiger Capital
Group, LLC; and Gordon Brothers Retail Partners, LLC will act as
the Debtors' exclusive agent for the limited purpose of:

  (a) selling all of the merchandise located in the Closing
      Stores through a promotional store closing or similar
      themed sale; and

  (b) disposing of the Agent furniture, fixtures & equipment or
      FFE in those Closing Stores.

As a guaranty of the Agent's performance under the Agency
Agreement, Borders will (i) receive 85.75% -- the Guaranty
Percentage -- of the aggregate cost value of the merchandise
included in the sale -- the Guaranty Amount -- plus (ii) all cash
in the Closing Stores on and as of the start of business on the
Sale Commencement Date, which cash the Agent will purchase and
reimburse Borders on a dollar for dollar basis.

The Guaranty Percentage has been fixed upon the aggregate Cost
Value of the Merchandise not being less than $23,500,000 and no
more than $26,000,000 as of March 24, 2011, excluding New Stand
Inventory, periodical items, and cafe items.

A table setting forth the Cost Value and corresponding Adjusted
Guaranty -- the "Merchandise Threshold" -- is available for free
at http://bankrupt.com/misc/Borders_MerchandiseThresholdSched.pdf

As compensation to the Agent, Borders will pay to the Agent
proceeds above the Guaranteed Amount and expense.  The Agent will
also be entitled to receive a commission based on the net
proceeds of the sale of the Agent Sale FF&E, subject to certain
conditions set forth in the Agency Agreement.

A full-text copy of the Agency Agreement is available for free
at: http://bankrupt.com/misc/Borders_Mar24AgencyAgr.pdf

                        About Borders Group

Borders Group is a leading operator of book, music and movie
superstores and mall-based bookstores.  At Jan. 29, 2011, the
Debtors operated 642 stores, under the Borders, Waldenbooks,
Borders Express and Borders Outlet names, as well as Borders-
branded airport stores in the United States, of which 639 stores
are located in the United States and 3 in Puerto Rico.  Two of
Borders' flagship stores (along with other less prominent stores)
are located in Manhattan.  In addition, the Debtors operate a
proprietary e-commerce Web site, http://www.Borders.com/,
launched in May 2008, which includes both in-store and online e-
commerce components.  As of Feb. 11, 2011, Borders employed a
total of 6,100 full-time employees, 11,400 part-time employees,
and approximately 600 contingent employees.

Borders Group Inc. and its affiliates filed for Chapter 11
protection (Bankr. S.D.N.Y. Case No. Lead Case No. 11-10614) in
Manhattan on Feb. 16, 2011.

David M. Friedman, Esq., David S. Rosner. Esq, Andrew K. Glenn,
Esq., and Jeffrey R. Gleit, Esq., at Kasowitz, Benson, Torres &
Friedman LLP, in New York, serve as counsel to the Debtors.
Jefferies & Company's Inc. is the financial advisor.  DJM Property
Management is the lease and real estate services provider.  AP
Services LLC is the interim management and restructuring services
provider.  The Garden City Group, Inc., is the claims and notice
agent.

Attorneys at Morgan, Lewis & Bockius LLP, and Riemer & Braunstein
LLP, serve as counsel to the DIP Agents.

National law firm Lowenstein Sandler has been appointed to
represent the official unsecured creditors committee for Borders
Group.  Bruce S. Nathan and Bruce Buechler, members of Lowenstein
Sandlers' Bankruptcy, Financial Reorganization & Creditors' Rights
Group, are leading the team.

The Debtor disclosed $1.28 billion in assets and $1.29 billion in
liabilities as of Dec. 25, 2010

Borders Group has sought approval to sell merchandise and owned
furniture, fixtures and equipment located at approximately 200 of
their stores and, at Borders' option, up to 75 of 136 potential
other stores, through store closing sales.

Bankruptcy Creditors' Service, Inc., publishes BORDERS GROUP
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by Borders Group Inc., the United States' second
largest bookstore chain.  (http://bankrupt.com/newsstand/or
215/945-7000)


BORDERS GROUP: Proposes Deloitte as Tax Advisor
-----------------------------------------------
Borders Group Inc. and its affiliates seek the Bankruptcy Court's
permission to employ Deloitte Tax LLP as their tax advisor, nunc
pro tunc to the Petition Date.

As the Debtors' tax advisor, Deloitte Tax will:

  (a) advise the Debtors in their work with their counsel and
      financial advisors on the potential cash tax effects of
      restructuring and bankruptcy and the post-restructuring
      tax profile, including plan of reorganization tax costs;

  (b) assist the Debtors on the analysis of the cumulative
      Section 3.82 of the Internal Revenue Code ownership change
      to date and the potential impact of proposed transactions
      thereon;

  (c) advise the Debtors regarding the restructuring and
      bankruptcy emergence process from a tax perspective,
      including the tax work plan;

  (d) advise the Debtors on the cancellation of debt income for
      income tax purpose under Section 108 of the Internal
      Revenue Code;

  (e) advise the Debtors on post-bankruptcy tax attributes
      available under the applicable tax regulations and the
      reduction of those attributes based on the Debtors'
      operating projections, including a technical analysis of
      the effects of Section 1.1502-28 of Title 26 of the Code
      of Federal Regulations and the interplay with Sections 108
      and 1017 of the Internal Revenue Code;

  (f) advise the Debtors on the potential effect of the
      "alternative minimum tax" in various post-emergence
      scenarios;

  (g) advise the Debtors on the effects of tax rules under
      Section 382(1)(5) and (1)(6) of the Internal Revenue Code
      pertaining to the post-bankruptcy net operating loss
      carryovers and limitations on their utilization and the
      Debtors' ability to qualify for Section 382(1)(5);

  (h) advise the Debtors on net built-in gain or net built-in
      loss position at the time of "ownership change," including
      limitations on use of tax losses generated from post-
      restructuring or post-bankruptcy asset or stock sales;

  (i) advise the Debtors as to the proper treatment of
      postpetition interest for state and federal income tax
      purposes;

  (j) advise the Debtors as to the proper state and federal
      income tax treatment of reorganization costs, including
      restructuring related professional fees and other costs,
      the categorization and analysis of those costs and the
      technical positions related to it;

  (k) advise the Debtors on the Debtors' evaluation and modeling
      of the tax effects of liquidating, disposing of assets,
      merging or converting entities as part of the
      restructuring, including the effects on federal and state
      tax attributes, state incentives, apportionment and other
      tax planning;

  (l) advise the Debtors on state income tax treatment and
      planning for restructuring or bankruptcy provisions in
      various jurisdictions including cancellation of
      indebtedness calculation, adjustments to tax attributes
      and limitations on tax attribute utilization;

  (m) advise the Debtors on responding to tax notices and audits
      from various taxing authorities;

  (n) assist the Debtors with identifying potential tax refunds
      and advise the Debtors on procedures for tax refunds from
      tax authorities;

  (o) advise the Debtors on income tax return reporting of
      bankruptcy issues and related matters;

  (p) advise the Debtors in their review and analysis of the tax
      treatment of items adjusted for financial reporting
      purposes as a result of "fresh start" accounting as
      required for the emergence date of the U.S. financial
      statements in an effort to identify the appropriate tax
      treatment of adjustments to equity and other tax basis
      adjustments to assets and liabilities recorded;

  (q) assist in documenting as appropriate, the tax analysis,
      development of the Debtors' opinions, recommendation,
      observations and correspondence for any proposed
      restructuring alternative tax issue or other tax matter;

  (r) advise the Debtors in their efforts to calculate tax basis
      on the stock in each of the Debtors' subsidiaries or other
      entity interests; and

  (s) advise the Debtors regarding other state or federal income
      tax questions that may arise in the course of this
      engagement, as requested by the Debtors, and
      as may be agreed to by Deloitte Tax.

The Debtors will pay Deloitte Tax's professionals according to
the firm's customary hourly rates:

       Title                             Rate per Hour
       -----                             -------------
       Partner, Principal, or Director   $650 to $700
       Senior Manager                    $560
       Manager                           $485
       Senior                            $325
       Staff                             $230

The Debtors will also reimburse Deloitte Tax for expenses the
firm incurred or will incurred.

Daniel Maher, a partner at Deloitte Tax, relates that his firm
has been providing necessary services to the Debtors since the
Petition Date, totaling $280,000, for which the firm will seek to
be paid in its First Interim Fee Application.

Mr. Maher also discloses that Deloitte Tax provided prepetition
services to the Debtors for which the Debtors paid $50,000,
including certain retainers in the 90-day period prior to the
Petition Date.  As of the Petition Date, about $6,000 was
remaining with respect to the retainer, he says.  As of the
Petition Date, no amounts were outstanding with respect to
invoices issued by Deloitte Tax before the Petition Date, he
adds.

Mr. Maher further discloses that:

  (a) Deloitte Tax provides services in matters unrelated
      to the Debtors' Chapter 11 cases to certain of the
      Debtors' largest unsecured creditors and other Potential
      Parties or their affiliates, a list of which is available
      for free at:

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

  (b) Akin Gump Strauss Hauer & Feld LLP; Baker & McKenzie;
      Bullivant Houser Bailey PC; Dickinson Wright PLLC; Dykema;
      Finnegan Henderson Farabow Garrett & Dunner LLP; Fish &
      Richardson P.C.; Fredrikson & Byron P.A.; Jackson Lewis
      LLP; Jones Day; Loeb & Loeb; Lowenstein Sandler PC;
      McConnell Valdes; Pillsbury Winthrop Shaw Pittman LLP;
      Sheppard Mullin Richter and Wilkie Farr & Gallagher LLP
      have provided, provide, and may provide legal services to
      Deloitte Tax or its affiliates in matters unrelated
      to the Debtors' Chapter 11 cases, or Deloitte Tax or its
      affiliates have provided, provide, and may provide
      services to those firms or their clients.

  (c) In the ordinary course of its business, Deloitte Tax and
      its affiliates have business relationships in unrelated
      matters with its principal competitors, which together
      with their affiliates may be Potential Parties in these
      Chapter 11 cases.

  (d) Certain financial institutions or their affiliates are (i)
      lenders to an affiliate of Deloitte Consulting, or (ii)
      have financed a portion of the capital or capital loan
      requirements of various partners and principals, of
      Deloitte Tax and its affiliates.

  (e) Certain firms around the world, including Deloitte LLP, an
      affiliate of Deloitte Tax, are members of Deloitte
      Touche Tohmatsu Limited.  Certain of the non-US member
      firms of DTT or their affiliates have provided, provide or
      may provide professional services to certain of the
      Debtors' affiliates.

  (f) In connection with a matter that is unrelated to the
      Debtors and their Chapter 11 cases, Deloitte & Touche LLP,
      an affiliate of Deloitte Tax, entered into a
      confidential settlement agreement with a number of
      plaintiffs, one of whom is an individual who is a
      principal with an entity that is a bondholder of the
      Debtors or an affiliate thereof.

  (g) Deloitte & Touche and certain of its affiliates provide
      professional services to certain members of the Debtors'
      Official Committee of Unsecured Creditors in matters
      unrelated to the Debtors' Chapter 11 cases, including as a
      retained professional in the bankruptcy cases of General
      Growth Properties, Inc.

  (h) Personnel of Deloitte Tax and its affiliates are
      likely to be ordinary course customers of the Debtors;
      however, Deloitte Tax has not conducted any
      research to determine whether, in fact, those
      relationships exist.

Despite those disclosures, Mr. Maher maintains that Deloitte Tax
is a "disinterested person" as the term is defined in Section
101(14) of the Bankruptcy Code.

                        About Borders Group

Borders Group is a leading operator of book, music and movie
superstores and mall-based bookstores.  At Jan. 29, 2011, the
Debtors operated 642 stores, under the Borders, Waldenbooks,
Borders Express and Borders Outlet names, as well as Borders-
branded airport stores in the United States, of which 639 stores
are located in the United States and 3 in Puerto Rico.  Two of
Borders' flagship stores (along with other less prominent stores)
are located in Manhattan.  In addition, the Debtors operate a
proprietary e-commerce Web site, http://www.Borders.com/,
launched in May 2008, which includes both in-store and online e-
commerce components.  As of Feb. 11, 2011, Borders employed a
total of 6,100 full-time employees, 11,400 part-time employees,
and approximately 600 contingent employees.

Borders Group Inc. and its affiliates filed for Chapter 11
protection (Bankr. S.D.N.Y. Case No. Lead Case No. 11-10614) in
Manhattan on Feb. 16, 2011.

David M. Friedman, Esq., David S. Rosner. Esq, Andrew K. Glenn,
Esq., and Jeffrey R. Gleit, Esq., at Kasowitz, Benson, Torres &
Friedman LLP, in New York, serve as counsel to the Debtors.
Jefferies & Company's Inc. is the financial advisor.  DJM Property
Management is the lease and real estate services provider.  AP
Services LLC is the interim management and restructuring services
provider.  The Garden City Group, Inc., is the claims and notice
agent.

Attorneys at Morgan, Lewis & Bockius LLP, and Riemer & Braunstein
LLP, serve as counsel to the DIP Agents.

National law firm Lowenstein Sandler has been appointed to
represent the official unsecured creditors committee for Borders
Group.  Bruce S. Nathan and Bruce Buechler, members of Lowenstein
Sandlers' Bankruptcy, Financial Reorganization & Creditors' Rights
Group, are leading the team.

The Debtor disclosed $1.28 billion in assets and $1.29 billion in
liabilities as of Dec. 25, 2010

Borders Group has sought approval to sell merchandise and owned
furniture, fixtures and equipment located at approximately 200 of
their stores and, at Borders' option, up to 75 of 136 potential
other stores, through store closing sales.

Bankruptcy Creditors' Service, Inc., publishes BORDERS GROUP
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by Borders Group Inc., the United States' second
largest bookstore chain.  (http://bankrupt.com/newsstand/or
215/945-7000)


BOZEL SA: Seeks to Employ Rolim Godoi as Brazilian Counsel
----------------------------------------------------------
Bozel S.A. and Bozel, LLC seek permission from the U.S. Bankruptcy
Court for the Southern District of New York to employ Rolim,
Godoi, Viotti & Leite Campos Advogados as its Brazilian counsel,
in the ordinary course of business, effective as of Feb. 18, 2011.

In the wake of Bozel's sale of substantially all of its assets to
Japan Metals & Chemicals Co., Ltd., Bozel requires Rolim Godoi's
post-closing assistance in connection with taxation, governmental
matters and general corporate advice in Brazil.  The
Firm will not represent the Debtors in connection with the
administration of the Chapter 11 cases.

As the Debtors' Brazilian counsel, Rolim Godoi will:

   (i) draft all sorts of legal documents necessary to carry out
       the post-closing acts;

  (ii) provide legal advice and support with respect to Brazilian
       tax, corporate, and foreign investments issues that may
       arise after the closing;

(iii) provide Legal Opinions; and

  (iv) representing the interests of Bozel SA before Brazilian
       courts and administrative bodies, if necessary,

The Debtors will pay Rolim Godoi's professionals according to
their customary hourly rates:

       Title                         Rate per Hour
       -----                         -------------
       Partner                           $280
       Senior Attorney                   $225
       Junior Attorney                   $150
       Assistant                         $100

The Debtors propose that they be permitted to pay Rolim Godoi,
without prior application to the Court, 100% of the fees and
disbursements incurred by the firm, upon receipt and acceptance by
the Debtors of appropriate invoices substantially in accordance
with the bankruptcy fee guidelines of the Court and the United
States Trustee for Region 2 setting forth in reasonable detail the
nature of the services rendered and disbursements actually
incurred, provided, that the firm's aggregate fees will not exceed
the equivalent of $15,000 and the firm's aggregate expenses will
not exceed the equivalent of $2,000.

Fabio Appendino, Esq., a partner at Rolim Godoi, relates that his
firm was engaged by Wellgate International, Ltd., which owns 100%
of Bozel's shares.  Rolim Godoi provided services to Wellgate
since May 2010 relating to its interests in Bozel's wholly-owned
subsidiary, Bozel Mineracao Ltda. -- Bozel Brazil.  Rolim Godoi
was engaged by Bozel Brazil in September 2010, he discloses.  To
the extent that Rolim Godoi has been engaged by and rendered
services to Wellgate and Bozel Brazil, these services have been
entirely consistent with those provided to Bozel following the
sale of Bozel Brazil to Japan Metals.  The interests of Wellgate,
Bozel Brazil and Bozel are aligned in these matters, as all
entities sought to effectuate a successful sale in order to
maximize the value available to the Debtors' estates, he assures
the Court.

Mr. Appendino insists that Rolim Godoi is a "disinterested person"
as the term is defined under Section 101(14) of the Bankruptcy
Code.

                       About Bozel S.A.

Bozel S.A. is a mineral mining company based in Luxembourg.  Bozel
S.A. sought bankruptcy protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 10-11802) on April 6,
2010.  William F. Savino, Esq., Daniel F. Brown, Esq., and Beth
Ann Bivona, Esq., at Damon Morey LLP in Buffalo, N.Y., represent
the Debtor, and BDO Consulting serves as the Debtor's financial
advisor.  Allen G. Kadish, Esq. -- kadisha@gtlaw.com -- Kaitlin R.
Walsh, Esq. -- walshkr@gtlaw.com -- and Mark D. Bloom, Esq. --
bloomm@gtlaw.com -- at Greenberg Traurig, LLP, represent the
Liquidator.  The Debtor estimated assets and debts at US$50
million to US$100 million in its Chapter 11 petition.

Bozel, LLC, a subsidiary of Bozel SA, filed a separate petition
for Chapter 11 on January 10, 2011 (Bankr. S.D.N.Y. Case No.
11-10033).  Gary C. Fischoff, Esq., at Steinberg, Fineo, Berger &
Fischoff, in Woodbury, N.Y., represents the Debtor as counsel.
The Debtor estimated assets of US$1 million to US$10 million and
debts of US$10 million to US$50 million in its Chapter 11
petition.

The two cases are jointly administered under Case No. 10-11802.


BOZEL SA: Wants Until Aug. 1 to File Debt Repayment Plan
--------------------------------------------------------
Pursuant to Section 1121(d) of the Bankruptcy Code, Bozel S.A. and
Bozel, LLC ask Judge Arthur J. Gonzalez to extend their exclusive
periods to:

   (i) file a Chapter 11 plan to Aug. 1, 2011; and

  (ii) solicit acceptances on that plan to Sept. 28, 2011.

Bozel S.A.'s Exclusive Plan Filing Period expires on April 1, 2011
and Exclusive Plan Solicitation Period on June 1, 2011.  Bozel
LLC's Exclusive Plan Filing Period expires on May 5, 2011 and its
Exclusive Plan Solicitation Period expires on July 4, 2011.

In an effort to reduce expense to the Debtors' estates by
proposing a single joint plan of reorganization, the Debtors seek
to establish uniform Exclusive Periods for Bozel S.A. and Bozel
LLC.  The Debtors also seek the extension of the Exclusive Periods
to avoid the necessity of having to propose a Chapter 11 plan
prematurely, and to ensure sufficient time after passage of the
proposed uniform claims bar dates to formulate a plan that best
addresses the interests of the Debtors' creditors and their
estates.

Allen G. Kadish, Esq., at Greenberg Traurig, LLP, in New York,
insists that despite an initial delay in the Debtors' Chapter 11
cases, the Debtors have made substantial progress in moving these
Chapter 11 cases forward:

  (i) Bozel has secured postpetition financing at below-market
      rates to ensure continuity of its operations while it was in
      bankruptcy;

(ii) solicited bids for Bozel's shares in Bozel Mineracao S.A. or
      Bozel Brazil and Bozel Europe S.A.S. or Bozel Europe, which
      required coordination and management of significant
      diligence requests across three continents and conducted the
      Auction; and

(iii) consummated the sale on Feb. 17, 2011, which resulted in
      Japan Metals & Chemicals Co., Ltd. purchasing significantly
      all of Bozel's assets for $30 million and the satisfaction
      of all amounts due pursuant to the DIP Order and of the only
      secured claims against the Debtors.

Since the Closing on February 17, 2011, the Debtors have been able
to shift their focus to other critical, but less time-sensitive,
post-closing issues which necessarily must be resolved in
order to formulate a plan of reorganization, Mr. Kadish says.
Given the unique and extraordinary circumstances of these Chapter
11 cases, a further extension of exclusivity is appropriate in
order for the Debtors to continue their progress, the focus of
which now shifts to gathering information about the creditor
bodies of the Debtors across multiple countries on at least three
continents, he points out.

Mr. Kadish also tells the Court that the allowed secured claims of
the only two known secured creditors have been paid in full, and
the thrust of the Debtors' efforts in this post-Closing phase of
the case is to identify and provide notice of a uniform Bar Date
to creditors so that proofs of claim can be filed, analyzed, and
evaluated in order to formulate a joint plan.

Judge Gonzalez scheduled a hearing to consider the Debtors'
request for March 30, 2011.  Objections were due Mar. 23.

                       About Bozel S.A.

Bozel S.A. is a mineral mining company based in Luxembourg.  Bozel
S.A. sought bankruptcy protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 10-11802) on April 6,
2010.  William F. Savino, Esq., Daniel F. Brown, Esq., and Beth
Ann Bivona, Esq., at Damon Morey LLP in Buffalo, N.Y., represent
the Debtor, and BDO Consulting serves as the Debtor's financial
advisor.  Allen G. Kadish, Esq. -- kadisha@gtlaw.com -- Kaitlin R.
Walsh, Esq. -- walshkr@gtlaw.com -- and Mark D. Bloom, Esq. --
bloomm@gtlaw.com -- at Greenberg Traurig, LLP, represent the
Liquidator.  The Debtor estimated assets and debts at US$50
million to US$100 million in its Chapter 11 petition.

Bozel, LLC, a subsidiary of Bozel SA, filed a separate petition
for Chapter 11 on January 10, 2011 (Bankr. S.D.N.Y. Case No.
11-10033).  Gary C. Fischoff, Esq., at Steinberg, Fineo, Berger &
Fischoff, in Woodbury, N.Y., represents the Debtor as counsel.
The Debtor estimated assets of US$1 million to US$10 million and
debts of US$10 million to US$50 million in its Chapter 11
petition.

The two cases are jointly administered under Case No. 10-11802.


BOZEL SA: Amends Schedules of Assets and Liabilities
----------------------------------------------------
Bozel S.A. filed with the U.S. Bankruptcy Court for the Southern
District of New York on Feb. 22, 2011, filed corrected schedules
of its assets and liabilities, disclosing:

     Name of Schedule                Assets       Liabilities
     ----------------              ----------     -----------
  A. Real Property                       US$0
  B. Personal Property              US$41,134
  C. Property Claimed as Exempt          US$0
  D. Creditors Holding
     Secured Claims                                 US$16,811
  E. Creditors Holding Unsecured
     Priority Claims                               US$148,500
  F. Creditors Holding Unsecured
     Nonpriority Claims                         US$30,405,428
                                   ----------   -------------
        TOTAL                   US$41,134,010   US$47,365,036

A copy of the corrected schedules is available for free at:

             http://bankrupt.com/misc/bozelfeb22sal.pdf

                          About Bozel S.A.

Bozel S.A. is a mineral mining company based in Luxembourg.  Bozel
S.A. sought bankruptcy protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 10-11802) on April 6,
2010.  William F. Savino, Esq., Daniel F. Brown, Esq., and Beth
Ann Bivona, Esq., at Damon Morey LLP in Buffalo, N.Y., represent
the Debtor, and BDO Consulting serves as the Debtor's financial
advisor.  Allen G. Kadish, Esq. -- kadisha@gtlaw.com -- Kaitlin R.
Walsh, Esq. -- walshkr@gtlaw.com -- and Mark D. Bloom, Esq. --
bloomm@gtlaw.com -- at Greenberg Traurig, LLP, represent the
Liquidator.  The Debtor estimated assets and debts at US$50
million to US$100 million in its Chapter 11 petition.

Bozel, LLC, a subsidiary of Bozel SA, filed a separate petition
for Chapter 11 on January 10, 2011 (Bankr. S.D.N.Y. Case No.
11-10033).  Gary C. Fischoff, Esq., at Steinberg, Fineo, Berger &
Fischoff, in Woodbury, N.Y., represents the Debtor as counsel.
The Debtor estimated assets of US$1 million to US$10 million and
debts of US$10 million to US$50 million in its Chapter 11
petition.

The two cases are jointly administered under Case No. 10-11802.


BOZEL SA: Creditors Have Until May 6 to File Claims
---------------------------------------------------
The Hon. Arthur J. Gonzalez of the U.S. Bankruptcy Court for the
Southern District of New York has set May 9, 2011, at 5:00 p.m.,
as the bar date for each person or entity that asserts a claim
against, or interest in, Bozel S.A. that arose on or prior to
April 6, 2010, and all claims against, and interests in, Bozel,
LLC that arose on or prior to January 5, 2011.

Governmental units must file their claims on or before July 5,
2011, at 5:00 p.m.

                          About Bozel S.A.

Bozel S.A. is a mineral mining company based in Luxembourg.  Bozel
S.A. sought bankruptcy protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 10-11802) on April 6,
2010.  William F. Savino, Esq., Daniel F. Brown, Esq., and Beth
Ann Bivona, Esq., at Damon Morey LLP in Buffalo, N.Y., represent
the Debtor, and BDO Consulting serves as the Debtor's financial
advisor.  Allen G. Kadish, Esq. -- kadisha@gtlaw.com -- Kaitlin R.
Walsh, Esq. -- walshkr@gtlaw.com -- and Mark D. Bloom, Esq. --
bloomm@gtlaw.com -- at Greenberg Traurig, LLP, represent the
Liquidator.  The Debtor estimated assets and debts at US$50
million to US$100 million in its Chapter 11 petition.

Bozel, LLC, a subsidiary of Bozel SA, filed a separate petition
for Chapter 11 on January 10, 2011 (Bankr. S.D.N.Y. Case No.
11-10033).  Gary C. Fischoff, Esq., at Steinberg, Fineo, Berger &
Fischoff, in Woodbury, N.Y., represents the Debtor as counsel.
The Debtor estimated assets of US$1 million to US$10 million and
debts of US$10 million to US$50 million in its Chapter 11
petition.

The two cases are jointly administered under Case No. 10-11802.


CAPMARK FINANCIAL: Seeks Approval of Bidding Procedures
-------------------------------------------------------
American Bankruptcy Institute reports that Capmark Financial Group
Inc. wants approval of bidding procedures for the sale of its real
estate debt investment advisory business to its stalking-horse
bidder, which is a unit of real estate private equity firm PCCP
LLC.

                       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 Oct. 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.

The Official Committee of Unsecured Creditors in Capmark Financial
Group Inc.'s cases tapped Kramer Levin Naftalis & Frankel LLP as
its counsel and JR Myriad LLC as its commercial real estate
business advisors.  The Committee also retained Cutler Pickering
Hale and Dorr LLP as its attorneys for the special purpose of
providing legal services in connection with Federal Deposit
Insurance Corporation matters.

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


CARIBBEAN PETROLEUM: To Present Plan for Confirmation on April 28
-----------------------------------------------------------------
Caribbean Petroleum Corp. and its debtor-affiliates will present
its Chapter 11 plan of liquidation for confirmation at a hearing
on April 28, 2011, at 10:00 a.m., in Wilmington, Delaware.
Objections, if any, are due Objections due April 22, 2011.

Caribbean Petroleum scheduled the confirmation hearing after
receiving approval of the explanatory disclosure statement, which
was amended three times.

The Official Committee of Unsecured Creditors, and Banco Popular
de Puerto Rico were co-proponents of the Plan.

Under the liquidation plan, FirstBank, owing $12.2 million, will
recover 94% of its allowed claim, and BPPR, owing $146.8 million,
will get 19%.1 of its allowed claim.  Holders of unsecured claim,
owing between $150 million and $3.7 billion, will recover between
0.78% and 19.3%.

On the Plan's effective date, the Debtors will cause the
liquidation trust assets to be transferred to the liquidation
trust and, the liquidation trust will assume all obligations of
the Debtors under the Plan.

The deadline to vote to accept or reject the Plan is on April 22,
2011.  All votes must be submitted to:

   Caribbean Petroleum Ballot Processing Center
   c/o Kurtzman Carson Consultants LLC
   2335 Alaska Avenue
   El Segundo, California 90245

A full-text copy of the Third Amended Disclosure Statement is
available for free at http://ResearchArchives.com/t/s?7588

A full-text copy of the Third Amended Plan is available for free
at http://ResearchArchives.com/t/s?7589

                     About Caribbean Petroleum

San Juan, Puerto Rico-based Caribbean Petroleum Corporation, aka
CAPECO, owns and operates certain facilities in Bayomon, Puerto
Rico for the import, offloading, storage and distribution of
petroleum products.  Caribbean Petroleum sought Chapter 11
protection (Bankr. D. Del. Case No. 10-12553) on Aug. 12, 2010,
nearly 10 months after a massive explosion at its major Puerto
Rican fuel storage depot virtually shut down the company's
operations.  The Debtor estimated assets of US$100 million to
US$500 million and debts of US$500 million to US$1 billion as of
the Petition Date.

Affiliates Caribbean Petroleum Refining, L.P., and Gulf Petroleum
Refining (Puerto Rico) Corporation filed separate Chapter 11
petitions on Aug. 12, 2010.

John J. Rapisardi, Esq., George A. Davis, Esq., and Zachary A.
Smith, Esq. at Cadwalader, Wickersham & Taft LLP serve as lead
counsel to the Debtors, and Mark D. Collins, Esq., and Jason M.
Madron, Esq., at Richards, Layton & Finger, P.A., serve as local
counsel.  The Debtors' financial advisor is FTI Consulting Inc.
The Debtors' chief restructuring officer is Kevin Lavin of FTI
Consulting Inc.  Kurtzman Carson Consultants LLC serves as the
noticing, claims and balloting agent.

In December 2010, the Debtor won bankruptcy court approval to sell
its business to Puma Energy International for US$82 million.  Puma
obtained Capeco's entire retail network which consists of 157
locations, gasoline, diesel and other fuel storage facilities as
well as undeveloped land and a private deep water jetty.


CARIBBEAN PETROLEUM: Asks for Plan Exclusivity Until May 9
----------------------------------------------------------
Caribbean Petroleum Corp. and its debtor-affiliates ask the U.S.
Bankruptcy Court for the District of Delaware to extend their
exclusive periods to file a Chapter 11 plan until June 8, 2011,
and solicit acceptances of that plan until May 9, 2011.

A hearing is set for April 13, 2011 at 3:00 p.m., to consider the
Debtors' request for an extension.  Objections, if any, are due
April 6, 2011, at 4:00 p.m.

In justifying the proposed extension, the Debtors say they have
worked vigorously to effect an orderly and efficient sale of
substantially all of their assets, and to develop a consensus
among all of their major economic stakeholders with respect to a
plan of liquidation.  Through these efforts, and the dedicated
efforts of Banco Popular de Puerto Rico and the Official Committee
of Unsecured Creditors, in December 2010, the Court approved the
sale of substantially all of the Debtors' assets to Puma.
Thereafter, the Debtors successfully concluded negotiations of a
consensual chapter 11 plan of liquidation with BPPR and the
Committee, and filed the Plan and Disclosure Statement in February
2011.

The Debtors are proceeding towards obtaining approval of the
Disclosure Statement and confirmation of the Plan, and closing the
sale to Puma.  The Debtors believe and expect that these cases
will reach a successful, prompt, and comprehensive resolution
early in the second quarter of 2011, that serves the best
interests of all economic stakeholders of these estates.

According to the Debtors, the requested extension will merely
serve to maintain calm in the cases and avoid the risk of multiple
hastily filed competing plans in such exceedingly remote
circumstances, pending further disposition by the Court.

                     About Caribbean Petroleum

San Juan, Puerto Rico-based Caribbean Petroleum Corporation, aka
CAPECO, owns and operates certain facilities in Bayomon, Puerto
Rico for the import, offloading, storage and distribution of
petroleum products.  Caribbean Petroleum sought Chapter 11
protection (Bankr. D. Del. Case No. 10-12553) on Aug. 12, 2010,
nearly 10 months after a massive explosion at its major Puerto
Rican fuel storage depot virtually shut down the company's
operations.  The Debtor estimated assets of US$100 million to
US$500 million and debts of US$500 million to US$1 billion as of
the Petition Date.

Affiliates Caribbean Petroleum Refining, L.P., and Gulf Petroleum
Refining (Puerto Rico) Corporation filed separate Chapter 11
petitions on Aug. 12, 2010.

John J. Rapisardi, Esq., George A. Davis, Esq., and Zachary A.
Smith, Esq. at Cadwalader, Wickersham & Taft LLP serve as lead
counsel to the Debtors, and Mark D. Collins, Esq., and Jason M.
Madron, Esq., at Richards, Layton & Finger, P.A., serve as local
counsel.  The Debtors' financial advisor is FTI Consulting Inc.
The Debtors' chief restructuring officer is Kevin Lavin of FTI
Consulting Inc.  Kurtzman Carson Consultants LLC serves as the
noticing, claims and balloting agent.

In December 2010, the Debtor won bankruptcy court approval to sell
its business to Puma Energy International for US$82 million.  Puma
obtained Capeco's entire retail network which consists of 157
locations, gasoline, diesel and other fuel storage facilities as
well as undeveloped land and a private deep water jetty.


CARTER'S GROVE: Obtains Approval to Employ Pachulski as Counsel
---------------------------------------------------------------
Carter's Grove, LLC sought and obtained permission from the U.S.
Bankruptcy Court for the Northern District of California to employ
Pachulski Stang Ziehl & Jones LLP as its general bankruptcy
counsel, nunc pro tunc to the Petition Date.

As the Debtor's counsel, Pachulski will:

   (a) assist, advise, and represent the Debtor in his
       consultations with creditors regarding the administration
       of this Chapter 11 case;

   (b) assist, advise, and represent the Debtor in any manner
       relevant to a review of the Debtor's leases and other
       contractual obligations, and asset dispositions;

   (c) assist, advise, and represent the Debtor in any issues
       associated with the acts, conduct, assets, liabilities, and
       financial condition of the Debtor;

   (d) assist, advise, and represent the Debtor in the
       negotiation, formulation, and drafting of any plan of
       reorganization and disclosure statement;

   (e) assist, advise, and represent the Debtor in the performance
       of its duties and the exercise of its powers under the
       Bankruptcy Code, the Bankruptcy Rules, and any applicable
       local rules and guidelines; and

   (f) provide other necessary advice and services as the Debtor
       may require in connection with this Chapter 11 case.

Pachulski's professionals expected to be responsible for this
matter, and their current hourly rates, are:

    Name                    Title             Rate per Hour
    ----                    -----             -------------
    Richard M. Pachulski    Shareholder           $950
    Debra I. Grassgreen     Partner               $795
    John W. Lucas           Attorney              $495
    Patricia J. Jefferies   Paralegal             $255

Ms. Grassgreen, Esq., a partner at Pachulski --
dgrassgreen@pszjlaw.com -- discloses that her firm received
payment of $75,000 from CNET founder Halsey Minor prior to
commencing this Chapter 11 case.  The payment was for all services
rendered to Mr. Minor and Carter's Grove prepetition.
Accordingly, Pachulski is not a creditor of the Debtor, she
insists.

Ms. Grassgreen maintains that Pachulski is a "disinterested
person" as the term is defined in Section 101(14) of the
Bankruptcy Code.

                     About Carter's Grove

San Francisco, California-based Carter's Grove, LLC, owns the
historic Williamsburg, Virginia -area mansion named Carter's
Grove.  Halsey M. Minor owns the Company and bought the Carter's
Grove mansion for $15.3 million in 2007, at the height of the real
estate bubble.

Carter's Grove filed for Chapter 11 bankruptcy protection (Bankr.
N.D. Calif. Case No. 11-30554) on Feb. 14, 2011.  Debra I.
Grassgreen, Esq., at Pachulski, Stang, Ziehl, And Jones LLP,
serves as the Debtor's bankruptcy counsel.  The Debtor estimated
its assets and debts at $10 million to $50 million as of the
Chapter 11 filing.


CARTER'S GROVE: Files Schedules of Assets and Liabilities
---------------------------------------------------------
Carter's Grove, LLC, filed with the U.S. Bankruptcy Court for the
Northern District of California on March 11, 2011, schedules of
assets and liabilities:

     Name of Schedule                Assets       Liabilities
     ----------------              ----------     -----------
  A. Real Property                $21,000,000
  B. Personal Property               $156,417
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $12,422,064
  E. Creditors Holding
     Unsecured Priority
     Claims                                           $14,991
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                           $53,420
                                   ----------      ----------
        TOTAL                     $21,156,417     $12,490,476

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

                     About Carter's Grove

San Francisco, California-based Carter's Grove, LLC, owns the
historic Williamsburg, Virginia -area mansion named Carter's
Grove.  Halsey M. Minor owns the Company and bought the Carter's
Grove mansion for $15.3 million in 2007, at the height of the real
estate bubble.

Carter's Grove filed for Chapter 11 bankruptcy protection (Bankr.
N.D. Calif. Case No. 11-30554) on Feb. 14, 2011.  Debra I.
Grassgreen, Esq., at Pachulski, Stang, Ziehl, And Jones LLP,
serves as the Debtor's bankruptcy counsel.  The Debtor estimated
its assets and debts at $10 million to $50 million as of the
filing.


CHESAPEAKE CORP: Canal Wins Confirmation of Liquidating Plan
------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Chesapeake Corp., now known as Canal Corp., resolved
all objections and secured approval of the Chapter 11 plan at the
March 28 confirmation hearing, according to the court docket.

According to Mr. Rochelle, general unsecured creditors with
$200 million in claims were told in the disclosure statement
approved in February that they were to have an estimated 0.38%
recovery.  Holders of $50 million in revenue bonds may see 2.28%
while holders of $250 million in subordinated notes won't receive
anything.

                        About Canal Corp.

Headquartered in Richmond, Virginia, Chesapeake Corporation
supplies specialty paperboard packaging products in Europe and an
international supplier of plastic packaging products to niche end-
use markets.  The Company has 44 locations in Europe, North
America, Africa and Asia.

Chesapeake and 18 affiliates filed Chapter 11 petitions (Bankr.
E.D. Va. Lead Case No. 08-336642) on Dec. 29, 2008.  Lawyers at
Hunton & Williams LLP represent the Debtors.  Chesapeake tapped
Alvarez and Marsal North America LLC, and Goldman Sachs & Co. as
financial advisors.  Tavenner & Beran PLC serves as conflicts
counsel and Hammonds LLP as special counsel.  Kurtzman Carson
Consultants LLC serves as claims agent.  The United States Trustee
for Region 4 appointed seven creditors to serve on an Official
Committee of Unsecured Creditors for the Debtors' Chapter 11
cases.  Lawyers at Greenberg Traurig LLP represent the Committee.

In its petition, Chesapeake disclosed $936,600,000 in total assets
and $937,100,000 in total debts as of September 28, 2008.

In May 2009, Chesapeake sold its assets to entities controlled by
Irving Place Capital Management, L.P. and Oaktree Capital
Management, L.P. and, following a competitive bidding process
which produced no competing bids.  The purchase price was about
$485 million.  The Debtor was renamed to Canal Corp., following
the sale.


CHINA INTELLIGENT: Faruqi & Faruqi Probes Potential Wrongdoing
--------------------------------------------------------------
Faruqi & Faruqi, LLP, a national law firm concentrating on
investors rights, consumer rights and enforcement of federal
antitrust laws, is investigating potential wrongdoing at China
Intelligent Lighting and Electronics, Inc.  Faruqi & Faruqi seeks
to determine whether China Intelligent Lighting has violated
federal securities laws by issuing false and misleading financial
statements to its shareholders, in particular in connection with
its recent public offering of its common stock.

On March 29, 2011, China Intelligent Lighting disclosed that its
independent auditor, MaloneBailey LLP, had formally resigned, AMEX
had issued a delisting notice and the Securities and Exchange
Commission was investigating the Company.  MaloneBailey cited
accounting fraud involving forging of the Company's accounting
records and bank statements.  The auditor believes that accounting
irregularities may create material errors in previously disclosed
financial statements and that they can no longer support its
opinion relating to the Company's financial statements for the
year ended Dec. 31, 2009.  MaloneBailey's resignation led AMEX to
delist China Intelligent Lighting's common stock and the SEC to
initiate a formal, nonpublic investigation into whether the
Company had made material misstatements or omissions concerning
its financial statements, including cash accounts and accounts
receivable.  On March 24, 2011, the SEC has served a subpoena for
documents on China Intelligent Lighting relating to matters under
review by the SEC.  In response, China Intelligent Lighting's
Board of Directors formed a special committee to investigate these
matters.

                     About Faruqi & Faruqi, LLP

Faruqi & Faruqi, LLP -- http://www.faruqilaw.com/-- is a boutique
law firm, representing investors, consumers and companies in the
prosecution of claims under state corporate and consumer laws and
the federal securities and antitrust laws.  The firm is focused on
providing exemplary legal services in complex litigation.  Founded
in 1995, the firm maintains its principal office in New York City,
with offices in Delaware, California, Florida and Pennsylvania.

                      About China Intelligent

China Intelligent Lighting and Electronics, Inc., is a China-based
company that provides a full range of lighting solutions,
including the design, manufacture, sales and marketing of high-
quality LED and other lighting products for the household,
commercial and outdoor lighting industries in China and
internationally.  The Company currently offers over 1,000 products
that include LEDs, long life fluorescent lights, ceiling lights,
metal halide lights, super electric transformers, grille spot
lights, down lights, and recessed and framed lighting.


CHOA VISION: Marshall Hotels Signs Deal to Manage Crown Plaza
-------------------------------------------------------------
Greg Bordonaro at the Hartford Business Journal reports that
Marshall Hotels & Resorts, Inc., has signed a contract to manage
the 350-room Crowne Plaza Hotel near I-84.  California-based
Packard Hospitality Group was managing the property when the
hotel's owners, CHOA Vision LLC, entered bankruptcy.

                         About Choa Vision

CHOA Vision LLC owns the Crowne Plaza hotel just north of downtown
Hartford, Connecticut.  The 350-room hotel is being managed by
Packard Hospitality Group.  CHOA is owned by the Christian Hotel
Owners Association, a group of primarily Korean American investors
led by Chan Soo Cho.

CHOA Vision filed for Chapter 11 protection (Bankr. C.D. Calif.
Case No. 10-44798) on Aug. 18, 2010.  Michael Jay Berger, Esq.,
at the Law Offices Of Michael Jay Berger, in Beverly Hills,
California, serve as the Debtor's bankruptcy counsel.  The Debtor
estimated its assets and debts at $10 million to $50 million.


CONSOLIDATED HORTICULTURE: Wins OK for ENVIRON as Consultants
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Consolidated Horticulture Group LLC and its debtor-affiliates to
employ ENVIRON International Corporation as environmental
consultants, nunc pro tunc to Dec. 16, 2010.

The Debtors also asked the Court's approval to pay the firm
$110,500 in fees and, reimburse the firm of its costs and expenses
of $12,848.

The Debtors tapped ENVIRON to provide environmental site
assessments at each of the Debtors' facilities.  The firm was
instrumental in maximizing the value of the assets being sold by
the Debtors.

The Debtors assured the Court that the firm is a "disinterested
person" within the meaning of Section 101(14) of the Bankruptcy
Code.

The Debtors allocated in the DIP financing budget $150,000 for
ENVIRON's professional fees.

                  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 (Bankr. D. Del. Lead Case No. 10-13308) on Oct. 12,
2010.  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.


CONSPIRACY ENTERTAINMENT: Issues $400,000 of Promissory Notes
-------------------------------------------------------------
Conspiracy Entertainment Holdings, Inc., entered into subscription
agreements with certain subscribers.  Pursuant to the Subscription
Agreement, the Company sold the subscribers an aggregate of
$400,000 principal amount of promissory notes and issued the
Subscribers 10,000,000 Class A Warrants, which equals one Class A
Warrant for each two shares which would be issued upon the full
conversion of the Promissory Notes assuming the full conversion of
the Promissory Notes.  Immediately following the closing, there
were 32,288,019 outstanding shares of the Company's common stock.

The Notes mature two years from the date of issuance and will
accrue interest at the rate of 14%.  Upon a default in the payment
of any amounts due under the Notes, the interest rate will be
increased to 18%.  Upon the occurrence of an Event of Default, all
principal and interest then remaining unpaid will be immediately
due and payable.  Events of Default include but are not limited to
(i) the Company's failure to make payments when due, (ii) breaches
by the Company of its representations or warranties (iii)
delisting of the Company's common stock from the Principal Market.

Pursuant to the terms of the Notes, the Subscribers have the
right, so long as the Notes are not fully repaid, to convert the
Notes into shares of the Company's common stock at a conversion
price per share that is equal to the lesser of $.02, or $70% of
the average of the five lowest closing bid prices for the
Company's Common Stock as reported by Bloomberg L.P. for the
Principal Market for the ten trading days preceding the date the
Subscriber gives the Company notice of conversion, as may be
adjusted.  The Notes contain anti-dilution provisions, including
but not limited to if the Company issues shares of its common
stock at less than the then existing conversion price, the
conversion price of the Notes will automatically be reduced to
such lower price.  The Notes and Warrants contain limitations on
conversion, including the limitation that the holder may not
convert its Note to the extent that upon conversion the holder,
together with its affiliates, would own in excess of 4.99% of the
Company's outstanding shares of common stock.

The Notes are secured by a security interest in certain assets of
the Company.

The Warrants issued to the Subscribers terminate five years from
the Closing Date.  The subscribers may Exercise Price of the
Warrants may be paid by cash or if the Fair Market Value of the
Company's Common Stock is greater than the Exercise Price, the
Subscriber may elect to receive shares equal to the value of the
Warrant and the Company will issue the Subscriber a number of
shares of Common Stock computed using the following formula:

     X= [Y (A-B)] /A

Where  X= the number of shares of Common Stock to be issued to the
          holder

       Y= the number of shares of Common Stock purchasable under
          the Warrant or, if only a portion of the Warrant is
          being exercised, the portion of the Warrant being
          exercised (at the date of such calculation)

       A= Fair Market Value

       B= Purchase Price (as adjusted to the date of such
          calculation)

                   About Conspiracy Entertainment

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

The Company's balance sheet at Sept. 30, 2010, showed $5,256,462
in assets, $10,216,852 in liabilities and a $4,960,390
stockholders' deficit.

Conspiracy Entertainment reported a net loss of $979,968 for 2009
from net income of $265,603,000 for 2008.  Net sales were
$9,600,592 for 2009 from $10,905,490 for 2008.


CRAWFORD PETROLEUM: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Crawford Petroleum, Inc.
        1725 250th Avenue
        Hays, KS 67601

Bankruptcy Case No.: 11-40377

Chapter 11 Petition Date: March 28, 2011

Court: United States Bankruptcy Court
       District of Kansas (Topeka)

Judge: Janice Miller Karlin

Debtor's Counsel: Justice B. King, Esq.
                  FISHER, PATTERSON, SAYLER & SMITH
                  3550 S.W. Fifth Street
                  P.O. Box 949
                  Topeka, KS 66601-0949
                  Tel: (785) 232-7761
                  Fax: (785) 232-6604
                  E-mail: jking@fisherpatterson.com

Scheduled Assets: $263,107

Scheduled Debts: $1,302,987

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ksb11-40377.pdf

The petition was signed by Stephen G. Crawford, president.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Stephen G. Crawford                    11-_____  3/28/11


CROATAN SURF: Conf. Hearing on 2nd Amended Plan Moved to June 7
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of North
Carolina on March 11, 2011, issued an amended order conditionally
approving a Second Amended Disclosure Statement dated Feb. 18,
2011, explaining Croatan Surf Club, LLC's Second Amended Plan.

A copy of the Second Amended Disclosure Statement is available for
free at http://bankrupt.com/misc/CroatanSurf_AmendedDS.pdf

June 2, 2011, is fixed as the last day for filing and serving
written objections to the disclosure statement.  If no objections
or requests to modify the disclosure statement are filed on or
before that date, the conditional approval of the disclosure
statement will become final.  Any objections to or requests to
modify the disclosure statement will be considered at the
confirmation hearing, which is scheduled for June 7, 2011, at
10:00 a.m.

The Court fixed June 2, 2011, as the last day for filing written
acceptances or rejections of the plan.  The ballots should be
completed and filed with the plan proponent on or before that
date.

The last day for filing and serving written objections to
confirmation of the plan is on June 2, 2011.

                       Treatment of Claims

According to the Second Amended Disclosure Statement, the Debtor's
Plan establishes 10 classes for claims.

Classes 1, 2, 3 and 4 consist of the claims of the Internal
Revenue Service, the North Carolina Department of Revenue,
Employment Security Commission and Dare County.  The Debtor does
not believe that any of these parties hold prepetition unsecured
priority Claims.  To the extent that these Claims exist, they will
be paid on the Extended Maturity Date as described in the Plan.

Classes 5, 6 and 7 consist of the Allowed Secured Claims of
creditors, including the Lender and Mezzanine Lender, which are
secured by various assets of the Debtor.  Croatan Surf Club
Condominium Association, Inc. would also have an Allowed Secured
Claim for any unpaid dues, assessments, or other charges.  Each of
the Allowed Secured Claims will be paid as provided by the Plan.

Class 9 consists of the Claims of unsecured creditors holding
Claims against the Debtor, except for those Claims of insiders.
These creditors will be paid in full as set forth in the Plan.
The Debtor may object to certain unsecured Claims for reasons
including, but not limited to, their improper classification, an
improper amount claimed, or the fact that the Claim is not owed by
the Debtor.

Class 10 consists of the Claims of insiders.  This class does not
include the membership interests of the insiders.  These claims
will be paid in full, after the payment of all other Claims.

                        About Croatan Surf

Kill Devil Hills, North Carolina-based Croatan Surf Club, LLC,
owns a 36 unit ocean-front condominium building in Dare County,
North Carolina.  It filed for Chapter 11 bankruptcy protection
(Bankr. E.D. N.C. Case No. 11-00194) on Jan. 10, 2011.  Walter L.
Hinson, Esq., and Maureen Radford, at Hinson & Rhyne, P.A., in
Wilson, N.C., represent the Debtor as counsel.  No creditors
committee has been formed in this case.  In its schedules, the
Debtor disclosed $26,151,718 in assets and $19,350,000 in
liabilities.


CYNERGY DATA: Trustee Wants $47 Million from Predecessor's CEO
--------------------------------------------------------------
Bankruptcy Law360 reports that the trustee overseeing Cynergy Data
LLC's liquidation launched two lawsuits Monday seeking to recoup
$47 million from a co-founder of the Company's predecessor and bar
its CEO from pursuing his own claims against his ex-colleague.

                        About Cynergy Data

Launched in 1995, Cynergy Data was a merchant credit card
processing service provider.  The Company and two affiliates --
Cynergy Data Holdings, LLC, and Cynergy Prosperity Plus, LLC --
filed for Chapter 11 bankruptcy protection on September 1, 2009
(Bankr. D. Del. Case No. 09-13038).  Cynergy Data said that it had
assets of $109.5 million against debts of $186.1 million as of
June 30, 2009.

The Company's legal advisor is Nixon Peabody LLP; its financial
and restructuring advisor is CM&D Management Services LLC; its
industry expert is Unicorn Partners, LLC; and its investment
bankers are Stifel, Nicolaus & Company and Peter J. Solomon
Company.  The Company also hired Pepper Hamilton LLP as bankruptcy
and restructuring counsel.  Charles D. Moore of Conway MacKenzie,
Inc., serves as chief restructuring officer.  Kurtzman Carson &
Consultants LLC serves as claims and notice agent.

Cynergy Data filed for Chapter 11 to complete the sale of all of
its assets to an affiliate of The ComVest Group.  The $81 million
sale was completed October 2009.  The Debtor was renamed to
Liquidation Co. LLC following the sale.

In December 2010, a bankruptcy judge approved Cynergy Data LLC's
Chapter 11 liquidation plan, overruling objections from the
company's former CEO regarding releases granted to a lender,
according to a Troubled Company Reporter published on
Dec. 23, 2010, citing Bankruptcy Law360.


DAIS ANALYTIC: Extends Term of $1-Mil. Platinum-Montaur Note
------------------------------------------------------------
Dais Analytic Corporation, on March 22, 2011, entered into a
Securities Amendment and Exchange Agreement and an Amended and
Restated Convertible Promissory Note with Platinum-Montaur Life
Sciences, LLC.  Pursuant to the terms and subject to the
conditions set forth in the Exchange Agreements, the Company and
the Investor amended and restated the $1,000,000 unsecured
promissory note issued by the Company to Investor on or about
Dec. 17, 2009 to, among other things, extend the term to March 22,
2012.  Interest in the amount of 10% per annum, commencing on
Dec. 17, 2009 and calculated on a 365 day year, and the principal
amount of $1,000,000 will be paid on March 22, 2012.  Subject to
the terms and conditions of the Convertible Note, including those
limitations on conversion, the outstanding principal and interest
under the Convertible Note will automatically convert into shares
of the Company's common stock at the then-effective conversion
price upon the closing of a qualified firm commitment underwritten
public offering or may be voluntarily converted by the Investor at
anytime during the term.  The initial conversion price is $.26 per
share.  Any principal or interest which is not converted will be
repaid by the Company at the earlier of a qualified offering or
March 22,2012.

Pursuant to and during the term of the Convertible Note, the
Company is not to issue or allow to exist any obligation for
borrowed money, except for subordinate indebtedness in payment and
priority, trade payables incurred in the ordinary course of
business, purchase money secured indebtedness for equipment or
inventory, unsecured and subordinate indebtedness to, or unsecured
and subordinate working capital guarantees provided by, the Export
Import Bank of the United States, and indebtedness evidenced by
the promissory note dated Feb. 19, 2010 issued to RBC Capital
Markets- Custodian of Leonard Samuels IRA in the principal amount
of $620,000.

In connection with the above mentioned qualified offering, and
subject to the terms and conditions of the Convertible Note, the
Company will use reasonable efforts to include the Investor's
securities in that offering.  Pursuant to the terms and conditions
of the Exchange Agreements, the Investor will not sell, offer to
sell or otherwise transfer or dispose of any securities of the
Company held by it for a period of 180 days from the date of the
final prospectus relating to such qualified offering, except for
releases as more fully described in the Exchange Agreements.

               Note and Warrant Purchase Agreement
               Secured Convertible Promissory Note
                    Patent Security Agreement

The Company, on March 22, 2011, entered into a Note and Warrant
Purchase Agreement, Secured Convertible Promissory Note and Patent
Security Agreement with the Investor.  Pursuant to the terms and
subject to the conditions set forth in the Financing Agreements,
the Investor has provided a bridge loan in the amount of
$1,500,000 to the Company, which will be secured in all patents,
patent applications and similar protections of the Company and all
rents, royalties, license fees and "accounts" with respect to such
intellectual property assets.  Pursuant to the Secured Convertible
Promissory Note, interest in the amount of 10% per annum,
calculated on a 365 day year, and the principal amount of
$1,500,000 will be paid on March 22, 2012, but repayment is
accelerated upon a qualified offering.  In the event of that
qualified offering, and subject to the terms and conditions of the
Secured Note, the outstanding principal and interest under the
Secured Note, will automatically convert, subject to the
limitations on conversion, into shares of the Company's common
stock at the then-effective conversion price upon the closing of
such qualified offering.  The initial conversion price is $.26 per
share.  Any principal or interest which is not converted will be
repaid by the Company at the earlier of the qualified offering or
March 22, 2012.  No cash fees were paid to any party to the
transaction in exchange for lending the money.

Pursuant to and during the term of this note the Company is not to
issue or permit to exist any obligation for borrowed money, except
for trade payables incurred in the ordinary course of business,
purchase money secured indebtedness for equipment or inventory,
unsecured and subordinate indebtedness to, or unsecured and
subordinate working capital guarantees provided by, the EXIM Bank,
the promissory note dated Feb. 19, 2010 issued to RBC Capital
Markets- Custodian of Leonard Samuels IRA (as amended) in the
principal amount of $620,000, the Amended and Restated Convertible
Promissory Note, dated March 22, 2011, issued to the Investor in
the principal amount of $1,000,000 and other unsecured
indebtedness for borrowed money in an amount not to exceed
$750,000.

Pursuant to the Patent Security Agreement, the Company will not,
without the Investor's prior consent, sell, dispose or otherwise
transfer all or any portion of the Collateral, except for license
grants in the ordinary course of business.  In addition, the
Company will take all actions reasonably necessary to prosecute to
allowance applications for patents and maintain all patents, and
to seek to recover damages for infringement, misappropriation or
dilution of the Collateral with limited exceptions.

                             Warrants

On March 22, 2011, in connection with the Exchange Agreements, the
Company entered into Amendment to 2007 Warrant and Amendment to
2009 Warrant to extend the terms of the Stock Purchase Warrant,
dated on or about Dec. 31, 2007, and Stock Purchase Warrant, dated
on or about March 12, 2009, respectively, to March 22, 2016, and
to provide for cashless exercise unless such warrant shares are
registered for resale under a registration statement.  In
addition, on March 22, 2011, in connection with the aforementioned
agreements, the Company issued a Stock Purchase Warrant to the
Investor to purchase 1,000,000 shares of the Company's common
stock at $0.45 per share, exerciseable commencing on the earliest
of the consummation of the qualified offering, the date of
conversion of the Convertible Note in full, or the date of
conversion of the Convertible Note by the Investor in the greatest
number of shares of the Company's common stock not to the
limitation on conversion and terminating on March 22, 2016.

In addition, on March 22, 2011, in connection with the Financing
Agreements, the Company issued a Stock Purchase Warrant to the
Investor to purchase 3,000,000 shares of the Company's common
stock at $0.45 per share, exerciseable until March 22, 2012.

The Stock Purchase Warrants may be exercised in a "cashless"
manner unless the warrant shares are registered for resale under
an effective registration statement.

The Company valued the warrants at approximately $1,204,800.

                        About Dais Analytic

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

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

As reported in the Troubled Company Reporter on April 7, 2010,
Cross, Fernandez & Riley LLP, in Tampa, Fla., expressed
substantial doubt about the Company's ability to continue as a
going concern, following the Company's 2009 results.  The
independent auditors noted that the Company has incurred
significant losses since inception and has a working capital
deficit and accumulated deficit of $2.3 million and $32.2 million
at December 31, 2009.


DELTA AIR: Wellington Mgt. Has 6.95% Equity Stake
-------------------------------------------------
Wellington Management Company LLP, in a February 14, 2011,
Schedule 13G filed with the U.S. Securities and Exchange
Commission disclosed that, as of December 31, 2010, it owns
54,861,520 shares of Delta Air Lines, Inc. common stock or 6.95%
of the shares outstanding.

As of January 31, 2011, there were 834,829,734 shares of Delta's
common stock outstanding.

AllianceBernstein also disclosed it has no sole voting power and
sole dispositive power over the shares.

Wellington Management, in its capacity as investment adviser, may
be deemed to beneficially own 54,861,520 shares of Delta Air
Lines, Inc. which are held of record by clients of Wellington
Management.

                       About Delta Air Lines

Atlanta, Georgia-based Delta Air Lines (NYSE: DAL) --
http://www.delta.com/or http://www.nwa.com/-- provides scheduled
air transportation for passengers and cargo throughout the United
States, and around the world.  The Company's route network is
centered on the hub system it operate at airports in Atlanta,
Cincinnati, Detroit, Memphis, Minneapolis/St. Paul, New York-JFK,
Salt Lake City, Paris-Charles de Gaulle, Amsterdam and Tokyo-
Narita. The hub operations include flights, which gather and
distribute traffic from markets in the geographic region
surrounding the hub to domestic and international cities and to
other hubs. The network is supported by a fleet of aircraft, which
is varied in terms of size and capabilities.  On December 31,
2009, the Company's wholly owned subsidiary Northwest Airlines,
Inc., merged with and into Delta.  The wholly owned subsidiary of
the Company is Northwest Airlines Corporation.

Northwest and 12 affiliates filed for Chapter 11 protection on
September 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17930).
On May 21, 2007, the Court confirmed the Northwest Debtors'
amended plan.  That amended plan took effect May 31, 2007.

Delta and 18 affiliates filed for Chapter 11 protection on
September 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17923).
Marshall S. Huebner, Esq., at Davis Polk & Wardwell, represented
the Delta Debtors in their restructuring efforts. On April 25,
2007, the Court confirmed the Delta Debtors' plan.  That plan
became effective on April 30, 2007.

(Bankruptcy Creditors Service Inc. publishes Delta Air Lines
Bankruptcy News, http://bankrupt.com/newsstand/or 215/945-7000).

                        *     *     *

Delta Air Lines and Northwest Airlines carry a 'B/Stable/--'
corporate ratings from Standard & Poor's.  They also continue to
carry 'B2' corporate family ratings from Moody's and "B-" LT
Issuer Default rating from Fitch.

S&P said at the end of February 2011 that its ratings on Atlanta,
Ga.-based Delta Air Lines Inc. reflect its highly leveraged
financial profile, with significant intermediate-term debt
maturities, and the risks associated with participation in the
price-competitive, cyclical, and capital-intensive airline
industry.  The ratings also incorporate the reduced debt load and
operating costs Delta achieved while in Chapter 11 in 2005-2007,
and its enhanced competitive position and synergistic
opportunities associated with its 2008 merger with Northwest
Airlines Corp. (parent of Northwest Airlines Inc.), with the two
airlines fully integrated in December 2009.  S&P characterize
Delta's business risk profile as weak and its financial risk
profile as highly leveraged.


DELTA AIR: AllianceBernstein Reveals 6.8% Equity Stake
------------------------------------------------------
AllianceBernstein LP in a Schedule 13G filed with the U.S.
Securities and Exchange Commission on February 9, 2011, disclosed
that as of December 31, 2010, it owns 53,262,216 shares of Delta
Air Lines, Inc. common stock or 6.8% of the shares outstanding.

As of January 31, 2011, there were 834,829,734 shares of Delta's
common stock outstanding.

AllianceBernstein also disclosed its sole voting power over
42,750,457 shares and sole dispositive power over 52,229,766
shares.

                       About Delta Air Lines

Atlanta, Georgia-based Delta Air Lines (NYSE: DAL) --
http://www.delta.com/or http://www.nwa.com/-- provides scheduled
air transportation for passengers and cargo throughout the United
States, and around the world.  The Company's route network is
centered on the hub system it operate at airports in Atlanta,
Cincinnati, Detroit, Memphis, Minneapolis/St. Paul, New York-JFK,
Salt Lake City, Paris-Charles de Gaulle, Amsterdam and Tokyo-
Narita. The hub operations include flights, which gather and
distribute traffic from markets in the geographic region
surrounding the hub to domestic and international cities and to
other hubs. The network is supported by a fleet of aircraft, which
is varied in terms of size and capabilities.  On December 31,
2009, the Company's wholly owned subsidiary Northwest Airlines,
Inc., merged with and into Delta.  The wholly owned subsidiary of
the Company is Northwest Airlines Corporation.

Northwest and 12 affiliates filed for Chapter 11 protection on
September 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17930).
On May 21, 2007, the Court confirmed the Northwest Debtors'
amended plan.  That amended plan took effect May 31, 2007.

Delta and 18 affiliates filed for Chapter 11 protection on
September 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17923).
Marshall S. Huebner, Esq., at Davis Polk & Wardwell, represented
the Delta Debtors in their restructuring efforts. On April 25,
2007, the Court confirmed the Delta Debtors' plan.  That plan
became effective on April 30, 2007.

(Bankruptcy Creditors Service Inc. publishes Delta Air Lines
Bankruptcy News, http://bankrupt.com/newsstand/or 215/945-7000).

                        *     *     *

Delta Air Lines and Northwest Airlines carry a 'B/Stable/--'
corporate ratings from Standard & Poor's.  They also continue to
carry 'B2' corporate family ratings from Moody's and "B-" LT
Issuer Default rating from Fitch.

S&P said at the end of February 2011 that its ratings on Atlanta,
Ga.-based Delta Air Lines Inc. reflect its highly leveraged
financial profile, with significant intermediate-term debt
maturities, and the risks associated with participation in the
price-competitive, cyclical, and capital-intensive airline
industry.  The ratings also incorporate the reduced debt load and
operating costs Delta achieved while in Chapter 11 in 2005-2007,
and its enhanced competitive position and synergistic
opportunities associated with its 2008 merger with Northwest
Airlines Corp. (parent of Northwest Airlines Inc.), with the two
airlines fully integrated in December 2009.  S&P characterize
Delta's business risk profile as weak and its financial risk
profile as highly leveraged.


DELTA AIR: Blackrock Inc. has 6.78% Equity Stake
------------------------------------------------
BlackRock, Inc., in a Schedule 13G/A filed with the U.S.
Securities and Exchange Commission on February 4, 2011, disclosed
that, as of December 31, 2010, it owns 53,452,391 shares of Delta
Air Lines, Inc. common stock or 6.78% of the shares outstanding.

As of January 31, 2011, there were 834,829,734 shares of Delta's
common stock outstanding.

                       About Delta Air Lines

Atlanta, Georgia-based Delta Air Lines (NYSE: DAL) --
http://www.delta.com/or http://www.nwa.com/-- provides scheduled
air transportation for passengers and cargo throughout the United
States, and around the world.  The Company's route network is
centered on the hub system it operate at airports in Atlanta,
Cincinnati, Detroit, Memphis, Minneapolis/St. Paul, New York-JFK,
Salt Lake City, Paris-Charles de Gaulle, Amsterdam and Tokyo-
Narita. The hub operations include flights, which gather and
distribute traffic from markets in the geographic region
surrounding the hub to domestic and international cities and to
other hubs. The network is supported by a fleet of aircraft, which
is varied in terms of size and capabilities.  On December 31,
2009, the Company's wholly owned subsidiary Northwest Airlines,
Inc., merged with and into Delta.  The wholly owned subsidiary of
the Company is Northwest Airlines Corporation.

Northwest and 12 affiliates filed for Chapter 11 protection on
September 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17930).
On May 21, 2007, the Court confirmed the Northwest Debtors'
amended plan.  That amended plan took effect May 31, 2007.

Delta and 18 affiliates filed for Chapter 11 protection on
September 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17923).
Marshall S. Huebner, Esq., at Davis Polk & Wardwell, represented
the Delta Debtors in their restructuring efforts. On April 25,
2007, the Court confirmed the Delta Debtors' plan.  That plan
became effective on April 30, 2007.

(Bankruptcy Creditors Service Inc. publishes Delta Air Lines
Bankruptcy News, http://bankrupt.com/newsstand/or 215/945-7000).

                        *     *     *

Delta Air Lines and Northwest Airlines carry a 'B/Stable/--'
corporate ratings from Standard & Poor's.  They also continue to
carry 'B2' corporate family ratings from Moody's and "B-" LT
Issuer Default rating from Fitch.

S&P said at the end of February 2011 that its ratings on Atlanta,
Ga.-based Delta Air Lines Inc. reflect its highly leveraged
financial profile, with significant intermediate-term debt
maturities, and the risks associated with participation in the
price-competitive, cyclical, and capital-intensive airline
industry.  The ratings also incorporate the reduced debt load and
operating costs Delta achieved while in Chapter 11 in 2005-2007,
and its enhanced competitive position and synergistic
opportunities associated with its 2008 merger with Northwest
Airlines Corp. (parent of Northwest Airlines Inc.), with the two
airlines fully integrated in December 2009.  S&P characterize
Delta's business risk profile as weak and its financial risk
profile as highly leveraged.


ECOLY INTERNATIONAL: Taps Eckert Seamans as IP Counsel
------------------------------------------------------
Ecoly International Inc. and Luxe Beauty Midco Corporation ask the
U.S. Bankruptcy Court for the Central District of California for
permission to employ Eckert Seamans Cherin & Mellott, LLC, as
their special counsel to handle matters related to the Debtors'
intellectual property.

The firm's junior associates charge $160 per hour; partners: $615
per hour; and paralegal -- including librarian -- assistance, $150
and $165 per hour.

The Debtors assure the Court that the firm is a "disinterested
person" within the meaning of Section 101(14) of the Bankruptcy
Code.

Based in Chatsworth, California, Ecoly International Inc. filed
for Chapter 11 bankruptcy protection (Bankr. C.D. Calif. Case No.
10-25919) on Dec. 21, 2011.  Judge Geraldine Mund presides over
the case.  Scott F. Gautier, Esq., at Peitzmann, Weg & Kempinsky
LLP, represents the Debtors.  The Debtors disclosed $2,684,496 in
assets, and $88,746,019 in liabilities.


ECOLY INTERNATIONAL: Taps Crowe Horwath as Tax Advisor
------------------------------------------------------
Ecoly International Inc. and Luxe Beauty Midco Corporation ask the
U.S. Bankruptcy Court for the Central District of California for
permission to employ Crowe Horwath LLP as tax advisor to provide
tax analysis and planning services concerning the Debtors'
reorganization efforts and any sale, recapitalization,
refinancing, or new capital transaction

The firm's senior managers and executives charge $595 per hour and
paraprofessionals bill $80 per hour for this engagement.

The Debtors assure the Court that the firm is a "disinterested
person" within the meaning of Section 101(14) of the Bankruptcy
Code.

Based in Chatsworth, California, Ecoly International Inc. filed
for Chapter 11 bankruptcy protection on Dec. 21, 2011 (Bankr. C.D.
Calif. Case No. 10-25919).  Judge Geraldine Mund presides over the
case.  Scott F. Gautier, Esq., at Peitzmann, Weg & Kempinsky LLP,
represents the Debtors.  The Debtors disclosed $2,684,496 in
assets, and $88,746,019 in liabilities in its schedules.


ELLICOTT SPRINGS: Court Approves Connolly as Trustee's Counsel
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Colorado authorized
Joseph Rosania, Esq., the chapter 11 trustee in the case of
Ellicott Springs Resources, LLC, to employ Connolly, Rosania &
Lofstedt, P.C., as counsel.

According to the Troubled Company Reporter on Feb. 10, 2011, CR&L
will, among other things, assist the Chapter 11 Trustee:

   -- pursue potential claims;

   -- avoid and recover all claims of the estate; and

   -- collect and liquidate property of the estate.

Douglas C. Pearce, II, a shareholder at CR&L, will be primarily
responsible in the case, and will charge the estate at $250 per
hour.

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

Mr. Rosania was appointed as Chapter 11 Trustee on Jan. 20, 2011.

                       About Ellicott Springs

Colorado Springs, Colorado-based Ellicott Springs Resources, LLC,
filed for Chapter 11 bankruptcy protection (Bankr. D. Colo. Case
No. 10-13116) on Feb. 19, 2010.  The Company disclosed $21,940,030
in assets and $8,411,246 in liabilities as of the Chapter 11
filing.

Ellicott Springs Development, LLC; PLW, Inc. (Case No. 10-13114);
and Rodney J. Preisser (Case No. 10-13110), the Debtor's
affiliates are also based in Colorado Springs, Colorado, and each
estimated assets and debts at $10 million to $50 million.

Lee M. Kutner, Esq., who has an office in Denver, Colorado,
represents the Debtors in their restructuring effort.

On Jan. 11, 2011, the Court vacated its order for joint
administration and directed separate administration of Chapter 11
estates.


EMIVEST AEROSPACE: Must Find New Buyer by April 6
-------------------------------------------------
William Pack at My San Antonio reports that attorneys for
claimants against Emivest Aerospace Corp. said the Company has
about a week to identify bidders for its assets as part of a
reorganization effort that needs traction.  The bidding deadline
is April 6, 2011.

According to the report, even though Emivest could not finalize a
deal with a lone bidder in a sales offering that expired this
month, Bradford J. Sandler, an attorney for the committee of
Emivest's unsecured creditors, said he is "cautiously optimistic"
the Company will find a buyer.  "This is a great opportunity to
buy the company at a tremendous value," he said.

My San Antonio reports that the U.S. Bankruptcy Court Judge Mary
F. Walrath allowed a 21-day extension for potential purchasers
after an initial March 10 bid deadline did not produce acceptable
results.  Emivest did receive a stalking horse bid designed to set
the bar for additional bidders but could not work out a final
purchase agreement with that group, officials said.  The amount of
the stalking horse bid was not available.

                     About Emivest Aerospace

Emivest Aerospace Corporation -- http://www.sj30jet.com/-- is a
U.S.-based aircraft manufacturing company and a subsidiary of
Emirates Investment & Development PSC.  Emivest Aerospace
Corporation produces the SJ30 light jet.

Emivest Aerospace Corporation filed for Chapter 11 protection
(Bankr. D. Del. Case No. 10-13391) on Oct. 20, 2010.  Emivest
estimated assets and debts between $50 million and $100 million.

Daniel B. Butz, Esq., at Morris, Nichols, Arsht & Tunnell LLP, in
Wilmington, Delaware, serves as counsel to the Debtor.  Morgan
Joseph & Co. Inc. is the financial advisor to the Debtor.  The
Debtor also hired DLA Piper LLP (US) as special counsel to assist
in the marketing of its assets.  Attorneys at Pachulski Stang
Ziehl & Jones LLP serve as counsel to the Official Committee of
Unsecured Creditors.  Deloitte Financial Services LLP is the
Committee's financial advisor.


ENIVA USA: Section 341(a) Meeting Slated for April 11
-----------------------------------------------------
The U.S. Trustee for Region 12 will convene a meeting of creditors
of Eniva USA Inc. on April 11, 2011, at 1:30 p.m. at Mtg.
Minneapolis - US Courthouse, 300 S. 4th St., 10th Floor.

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.

                          About Eniva USA

Anoka, Minnesota-based Eniva USA, Inc., fka Eniva, Inc., has been
engaged in the development, production and sale of nutritional
supplements since 1998.  It is a wholly owned subsidiary of
Wellspring International, Inc.  It sells its products throughout
the U.S. through a network of approximately 25,000 active
independent sales representatives, each under non-exclusive
membership contract with the Debtor.  It also sells its products
in Mexico, Puerto Rico, Bermuda Canada and the U.K. through non
Debtor affiliates owned by Wellspring.

Eniva USA filed for Chapter 11 bankruptcy protection (Bankr. D.
Minn. Case No. 11-41414) on March 1, 2011.  Michael F. McGrath,
Esq., at Ravich Meyer Kirkman & Mcgrath Nauman, serves as the
Debtor's bankruptcy counsel.  The Debtor estimated its assets and
debts at $10 million to $50 million.


ENIVA USA: Court Approves GuideSource as Financial Consultant
-------------------------------------------------------------
The Hon. Robert J. Kressel of the U.S. Bankruptcy Court for the
District of Minnesota authorized Eniva USA, Inc., to employ
GuideSource as financial consultant.

GuideSource will advise and assist the Debtor in connection with,
among other things:

    a. the preparation of projections and pro forma financial
       statements in connection with the Debtor's business;

    b. the obtaining of DIP financing to provide needed working
       capital for the Debtor's business;

    c. the restructuring of the Debtor's leases and executory
       contracts; and

    d. the offering of the Debtor's business assets for sale,
       if appropriate, and the structuring of any proposed sale
       transaction.

GuideSource will be paid based on the hourly rates of its
professionals:

          Richard Gallagher                  $112.50
          HR Consulting                       $45.75
          Staff Accounting                    $27.50

Richard Gallagher, Vice President of GuideSource, assured the
Court that the firm is a "disinterested person" within the meaning
of Section 101(14) of the Bankruptcy Code.

                          About Eniva USA

Anoka, Minnesota-based Eniva USA, Inc., fka Eniva, Inc., has been
engaged in the development, production and sale of nutritional
supplements since 1998.  It is a wholly owned subsidiary of
Wellspring International, Inc.  It sells its products throughout
the U.S. through a network of approximately 25,000 active
independent sales representatives, each under non-exclusive
membership contract with the Debtor.  It also sells its products
in Mexico, Puerto Rico, Bermuda Canada and the U.K. through non
Debtor affiliates owned by Wellspring.

Eniva USA filed for Chapter 11 bankruptcy protection on March 1,
2011 (Bankr. D. Minn. Case No. 11-41414).  Michael F. McGrath,
Esq., at Ravich Meyer Kirkman & Mcgrath Nauman, serves as the
Debtor's bankruptcy counsel.  The Debtor estimated its assets and
debts at $10 million to $50 million.


ENIVA USA: Court Approves Ravich Meyer as Bankruptcy Counsel
------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Minnesota authorized
Eniva USA, Inc., to employ Ravich Meyer Kirkman McGrath Nauman &
Tansey as bankruptcy counsel.

According to the Troubled Company Reporter on March 11, 2011,
Ravich Meyer will represent the Debtor in connection with all
matters relating to the Debtor's Chapter 11 case.

Ravich Meyer will be paid based on the hourly rates of its
professionals:

         Michael F. McGrath                     $375
         Michael L. Meyer                       $450
         Will R. Tansey                         $305
         John N. Saunders                       $250
         Michael D. Howard                      $185

         Paralegal                              $150

Michael F. McGrath, Esq., a shareholder at Ravich Meyer, assured
the Court that the firm is a "disinterested person" within the
meaning of Section 101(14) of the Bankruptcy Code.

Anoka, Minnesota-based Eniva USA, Inc., fka Eniva, Inc., has been
engaged in the development, production and sale of nutritional
supplements since 1998.  It is a wholly owned subsidiary of
Wellspring International, Inc.  It sells its products throughout
the U.S. through a network of approximately 25,000 active
independent sales representatives, each under non-exclusive
membership contract with the Debtor.  It also sells its products
in Mexico, Puerto Rico, Bermuda Canada and the U.K. through non
Debtor affiliates owned by Wellspring.

Eniva USA filed for Chapter 11 bankruptcy protection on March 1,
2011 (Bankr. D. Minn. Case No. 11-41414).  The Debtor estimated
its assets and debts at $10 million to $50 million as of the
filing.


ENVIRONMENTAL INFRASTRUCTURE: Xiom Files for Ch. 7 Liquidation
--------------------------------------------------------------
The Xiom Corp subsidiary of Environmental Infrastructure Holdings
Corp. filed, on March 25, 2011, a petition in the United States
Bankruptcy Court District of Delaware under Chapter 7 of the
United States Bankruptcy Code requesting liquidation of the assets
and liabilities of Xiom Corp.  As of the filing, Xiom had
estimated assets of $340,745 and liabilities of $4,044,878.

                 About Environmental Infrastructure

West Conshohocken, Pa.-based Environmental Infrastructure Holdings
Corp. is the parent company of various environmental
manufacturing, engineering and services companies.  Currently the
company has two wholly owned subsidiaries in Equisol, LLC and Xiom
Corp.

The Company's balance sheet at Sept. 30, 2010, showed
$1.30 million in total assets, $5.32 million in total liabilities,
and a stockholders' deficit of $4.02 million.  Stockholders'
deficit was $3.8 million at June 30, 2010.

Michael T. Studer CPA P.C., in Freeport, N.Y., expressed
substantial doubt about the Company's ability to continue as a
going concern.  The independent auditors noted that the Company
has incurred losses for the years ended December 31, 2009, and
2008, and has a deficiency in stockholders' equity at December 31,
2009.  The Company reported a net loss of $7.94 million on
$3.65 million of revenue for 2009, compared with net income of
$33,952 on $6.07 million of revenue for 2008.  Stockholders'
deficit was $2.83 million at Dec. 31, 2009.


EVERGREEN TRANSPORTATION: Administrator Wants Case Dismissed
------------------------------------------------------------
Travis M. Bedsole, Jr., bankruptcy administrator for the Southern
District of Alabama, asks the U.S. Bankruptcy Court for the
Southern District of Alabama to dismiss the Chapter 11 case of
Evergreen Transportation Inc. or, in the alternative, convert the
case to Chapter 7 liquidation proceeding because the Debtor has
failed to propose a plan of reorganization, and no ability to
effectuate a plan of reorganization.  A hearing is set for April
12, 2011, at 8:30 a.m., at Courtroom 2, 201 St. Louis Street in
Mobile, Alabama, to consider the administrator's request.

Evergreen, Alabama-based Evergreen Transportation, Inc., operates
a freight and logistics business.  The Company filed for Chapter
11 (Bankr. S.D. Ala. Case No. 09-13525) on Aug. 4, 2009.  Silver,
Voit & Thompson, Attorneys at Law, P.C. represents the Debtor in
its restructuring efforts.  Ross Consulting Services, LLC, and
Carriage Hill Partners, Ltd., have been tapped as financial
advisors.  In its petition, the Debtor estimated $10,000,001 to
$50,000,000 in assets and $1,000,001 to $10,000,000 as of the
Chapter 11 filing.


FGIC CORP: Given Plan-Filing Exclusivity Until July 1
-----------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that FGIC Corp. generated no opposition and for a third
time was granted an extension of the exclusive right to propose a
Chapter 11 plan.  The new deadline is July 1.

Mr. Rochelle notes that FGIC filed for reorganization in August
with a plan where creditors would become owners of the bond
insurance subsidiary, Financial Guaranty Insurance Co.  The plan
was rendered infeasible when an exchange offer failed.  The
company hopes to be reorganized so it can utilize $4 billion in
net tax-loss carry-forwards. The Company said this month that it
continues to work on a new reorganization structure with policy
holders.

According to Mr. Rochelle, FGIC's assets consist of $10 million
cash, the insurance subsidiary, and the opportunity to utilize tax
losses.  The plan worked out in advance of the Chapter 11 filing
contemplated dividing the cash and new stock among lenders on the
$46 million revolving credit and the $345 million in unsecured
notes.  Holders of 90 percent of the common stock had agreed to go
along with the plan and waive their $7.2 million unsecured claim.

                          About FGIC Corp

New York-based FGIC Corporation is a privately held insurance
holding company.  FGIC Corp's main business interest lies in the
holdings of the bond insurer Financial Guaranty Insurance Company
-- http://www.fgic.com/-- and it depends on dividend payments by
FGIC for sustaining its operations.  FGIC had stopped paying
dividends to parent FGIC Corp. since January 2008.

FGIC Corp. filed for Chapter 11 bankruptcy protection on August 3,
2010 (Bankr. S.D.N.Y. Case No. 10-14215).  The bond insurer
subsidiary did not file for bankruptcy.

Paul M. Basta, Esq., Brian S. Lennon, Esq., and Patrick J. Nash,
Jr., Esq., at Kirkland & Ellis LLP, serve as counsel to the
Debtor.  Garden City Group, Inc., is the Debtor's claims and
notice agent.   The Official Committee of Unsecured Creditors
tapped Morrison & Foerster LLP as its counsel.  The Company
disclosed $11,539,834 in assets and $391,555,568 in liabilities as
of the Petition Date.

In August 2010, FGIC filed a plan of reorganization and disclosure
statement.  The Plan negotiated between FGIC and its key creditors
and shareholders would allow the FGIC to cancel debt obligations
in the aggregate amount of $391.5 million.  Holders of general
unsecured claims against FGIC Corp. -- which include holders of
outstanding debt under FGIC Corp.'s prepetition revolving credit
facility and holders of FGIC Corp.'s 6% Senior Notes due 2034 --
would receive substantially all of its $11.5 million in cash and
the common stock in Reorganized FGIC Corp.  The three largest
common shareholders of FGIC Corp., representing over 90% of its
common stock, have agreed to the cancellation of their equity
interests pursuant to the Plan and waive general unsecured claims
against the estate in the aggregate amount of $7.2 million.  As
agreed upon with FGIC Corp.'s major creditors, Reorganized FGIC
Corp. would be capitalized with no more than $400,000 to fund its
business needs and continue to operate as an insurance holding
company after the Effective Date.


GATEWAY HOTEL: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Gateway Hotel LLC
          aka Hilton Garden Inn
              Hilton Garden Inn Phoenix Airport North
        2701 E. Camelback Road, #175
        Phoenix, AZ 85016

Bankruptcy Case No.: 11-08302

Chapter 11 Petition Date: March 29, 2011

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

Judge: James M. Marlar

Debtor's Counsel: Kyle S. Hirsch, Esq.
                  BRYAN CAVE LLP
                  2 N. Central Avenue, Suite 2200
                  Phoenix, AZ 85004-4406
                  Tel: (602) 364-7170
                  Fax: (602) 364-7070
                  E-mail: kyle.hirsch@bryancave.com

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

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

The petition was signed by Douglas J. Edgelow, manager.

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Windsor Commercial Construction, LLC  09-25724            10/13/09

Debtor's List of 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Hilton Garden Inn Franchise, LLC   Trade Debt             $129,044
9336 Civic Center Drive
Beverly Hills, CA 90210-3604

Maricopa County Treasurer          Property Tax            $68,091
301 W. Jefferson Street
Phoenix, AZ 85003

Sysco Arizona, Inc.                Trade Debt              $19,855
P.O. Box 23430
Phoenix, AZ 85063-3430

Otis Elevator Company              Trade Debt              $17,113

Al Mar Housekeepers, Inc.          Trade Debt              $11,892

Sun Produce Specialties            Trade Debt               $6,176

Security Response, Inc.            Trade Debt               $5,676

Clear Channel Airports             Trade Debt               $5,550

Sysco Guest Supply                 Trade Debt               $4,819

Southwest Gas Corporation          Trade Debt               $4,329

Willis of Oregon, Inc.             Trade Debt               $4,214

Western Paper Distributors         Trade Debt               $3,512

Cox Communications                 Trade Debt               $2,718

Go Green Landscaping Services      Trade Debt               $2,061

Office Depot                       Trade Debt               $2,035

Ecolab Chemical/Laundry            Trade Debt               $2,027

Micros System, Inc.                Trade Debt               $1,801

Nationwide Hospitality, Inc.       Trade Debt               $1,647

Strickly from Scratch              Trade Debt               $1,605

Apex Refrigeration & Boiler Co.    Trade Debt               $1,573


GENERAL MOTORS: Judge Signs Old GM Plan Confirmation Order
----------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the old General Motors Corp. liquidating Chapter 11
plan was formally approved when the bankruptcy judge put his
signature on a confirmation order March 29.  The judge said he
would approve the plan at the March 3 confirmation hearing.

Mr. Rochelle relates that to wrap up the largest manufacturing
reorganization in history, old GM, now formally known as Motors
Liquidation Co., filed a liquidating plan in August.  It creates a
trust for unsecured creditors to distribute the stock and warrants
issued by new GM as consideration for the sale of the assets.

                       About General Motors

With its global headquarters in Detroit, Michigan, General Motors
Company -- http://www.gm.com/-- is one of the world's largest
automakers.  GM employs 205,000 people in every major region of
the world and does business in some 157 countries.  GM and its
strategic partners produce cars and trucks in 31 countries, and
sell and service these vehicles through the following brands:
Buick, Cadillac, Chevrolet, FAW, GMC, Daewoo, Holden, Jiefang,
Opel, Vauxhall and Wuling.  GM's largest national market is China,
followed by the United States, Brazil, Germany, the United
Kingdom, Canada, and Italy.  GM's OnStar subsidiary is the
industry leader in vehicle safety, security and information
services.

General Motors Co. is 60.8% owned by the U.S. Government.  It was
formed to acquire the operations of General Motors Corporation
through a sale under 11 U.S.C. Sec. 363 following Old GM's
bankruptcy filing.  The deal was closed on July 10, 2009, and Old
GM changed its name to Motors Liquidation Co.  Old GM remains
subject to a pending Chapter 11 reorganization case before the
U.S. Bankruptcy Court for the Southern District of New York.

At Sept. 30, 2010, GM had US$137.238 billion in total assets,
US$106.522 billion in total liabilities, US$6.998 billion in
preferred stock, US$971 million in non-controlling interest, and
US$23.718 billion in total equity.

New GM has a 'BB-' corporate credit rating from Standard & Poor's
and a 'BB-' issuer default rating from Fitch.

                     About Motors Liquidation

General Motors Corporation and three of its affiliates filed for
Chapter 11 protection on June 1, 2009 (Bankr. S.D.N.Y. Lead Case
No. 09-50026).  The Honorable Robert E. Gerber presides over the
Chapter 11 cases.  Harvey R. Miller, Esq., Stephen Karotkin, Esq.,
and Joseph H. Smolinsky, Esq., at Weil, Gotshal & Manges LLP,
assist the Debtors in their restructuring efforts.  Al Koch at AP
Services, LLC, an affiliate of AlixPartners, LLP, serves as the
Chief Executive Officer for Motors Liquidation Company.  GM is
also represented by Jenner & Block LLP and Honigman Miller
Schwartz and Cohn LLP as counsel.  Cravath, Swaine, & Moore LLP is
providing legal advice to the GM Board of Directors.  GM's
financial advisors are Morgan Stanley, Evercore Partners and the
Blackstone Group LLP.  Garden City Group is the claims and notice
agent of the Debtors.

The U.S. Trustee has appointed an Official Committee of Unsecured
Creditors and a separate Official Committee of Unsecured Creditors
Holding Asbestos-Related Claims.  Lawyers at Kramer Levin Naftalis
& Frankel LLP serve as bankruptcy counsel to the Creditors
Committee.  Attorneys at Butzel Long serve as counsel regarding
supplier contract matters.  FTI Consulting, Inc., serves as
financial advisors to the Creditors Committee.  Elihu Inselbuch,
Esq., at Caplin & Drysdale, Chartered, represents the Asbestos
Committee.  Legal Analysis Systems, Inc., serves as asbestos
valuation analyst.


GM 14TH: Voluntary Chapter 11 Case Summary
------------------------------------------
Debtor: GM 14th & Irving LLC
        710 NW Fourteenth Ave., Second Floor
        Portland, OR 97209

Bankruptcy Case No.: 11-32484

Chapter 11 Petition Date: March 28, 2011

Court: United States Bankruptcy Court
       District of Oregon

Judge: Elizabeth L. Perris

Debtor's Counsel: Robert S. Simon, Esq.
                  P.O. Box 820035
                  Portland, OR 97282-1035
                  Tel: (503) 577-3946
                  E-mail: robert@rssimonlaw.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 Jimmy Drakos, president of Willamette
Capital Group LLC, Debtor's manager.


GRAMERCY PARK: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Gramercy Park Land, LLC
        319 Lafayette Street, Suite 255
        New York, NY 10012

Bankruptcy Case No.: 11-11385

Chapter 11 Petition Date: March 29, 2011

Court: U.S. Bankruptcy Court
       Southern District of New York (Manhattan)

Debtor's Counsel: Avrum J. Rosen, Esq.
                  THE LAW OFFICES OF AVRUM J. ROSEN, PLLC
                  38 New Street
                  Huntington, NY 11743
                  Tel: (631) 423-8527
                  Fax: (631) 423-4536
                  E-mail: ajrlaw@aol.com

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

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

The petition was signed by Norman Kaish, manager.

Debtor-affiliates that simultaneously filed separate Chapter 11
petitions on March 29:

        Entity                        Case No.
        ------                        --------
LT 266 Third Avenue, LLC              11-11386
NK 266 Third Avenue, LLC              11-11387

Debtor's List of 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
UBS Real Estate Investments Inc.   Bank Loan           $18,059,195
C/O Proskauer Rose LLP
11 Time Square
New York, NY 10036

Howard Leder, Esq.                 Trade Debt             $700,000
319 Lafayette Street, #176
New York, NY 10012

Grace Goldstein Associates         Trade Debt             $148,572
Consulting En
31 W 27th Street
New York, NY 10001

Triton Construction Company        Trade Debt             $119,532

Alchemy Gramercy LLC               Loan                    $62,156

William Vitacco Associates Ltd     Trade Debt              $49,479

Triton Construction Company        Trade Debt              $48,658

Wagner Davis PC                    Trade Debt              $36,991

MRC II Constructing Inc.           Trade Debt              $35,900

MRC II Constructing Inc.           Trade Debt              $33,501

Top Flight Constructing LLC        Trade Debt              $27,000

Moretrench                         Trade Debt              $18,000

Certilman Balin                    Legal Fees              $18,000

Blank Rome LLP                     Trade Debt              $17,764

Perimeter Bridge & Scaffold Co.    Trade Debt              $16,798
Inc.

Handwerger & Sons Inc.             Trade Debt              $16,100

NYC DEC                            Trade Debt              $15,634

Shen Milson & Wilkes, Inc.         Trade Debt              $13,382

Belken Burden Wenig & Goldman LLP  Trade Debt              $12,469

Jaffe Ross & Light LLP             Trade Debt              $10,464


GREENBRIER COS: Expects to Report $286-Mil Revenue in Feb. 28 Qtr
-----------------------------------------------------------------
The Greenbrier Companies, Inc., provided updated and additional
preliminary unaudited selected financial results for its second
fiscal quarter ended Feb. 28, 2011.  These updated results are
consistent with the preliminary results for the quarter previously
announced by Greenbrier on March 17, 2011.  Based on Greenbrier's
initial closing for the quarter, preliminary revenues are expected
to be approximately $286 million and Greenbrier expects a net loss
attributable to Greenbrier of approximately $0.6 million, or a
loss of $.02 per share for the second quarter.  Greenbrier's
Adjusted EBITDA for the second fiscal quarter is anticipated to be
approximately $19.4 million.

These quarterly results are subject to further review by
Greenbrier and should be considered preliminary and subject to
change, as Greenbrier is still in the process of preparing its
financial statements for the quarter ended Feb. 28, 2011.

Greenbrier currently expects to hold its regularly scheduled
earnings conference call on April 7, 2011.  Greenbrier anticipates
filing its Form 10-Q for the second quarter of fiscal 2011 on or
before April 11, 2011.

                       About Greenbrier Cos.

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

The Company's balance sheet as of Nov. 30, 2010, showed
$1.1 billion in total assets, $812.7 million in total liabilities
and $296.5 million in total equity.

                           *     *     *

Greenbrier carries a 'Caa1' corporate family rating from Moody's
Investors Service and a Speculative Grade Liquidity
Rating of SGL-3.  In August 2010, Moody's said Greenbrier's rating
outlook is negative in consideration of the continued sluggish
demand for new railcars and the company's need to address
certain refinancing needs.

Greenbrier carries 'B-' issuer credit ratings from Standard &
Poor's Ratings Services.  S&P said in May 2010 that the ratings on
Greenbrier reflect the company's fair business risk profile
stemming from the cyclicality of the freight car manufacturing
industry; the dramatic decline in demand for new railcars as a
result of slower economic growth and weaker carloadings; and
limited customer diversity.  The Company, accordnig to S&P, also
has a highly leveraged financial risk profile, marked by increased
debt balances as a result of acquisitions completed in recent
years.


GRAMERCY PARK LAND: Files for Bankruptcy to Stop Foreclosure Sale
-----------------------------------------------------------------
Dow Jones' DBR Small Cap reports that the owner of property in
Manhattan's Gramercy Park neighborhood slated for a 20-story
condominium filed for Chapter 11 bankruptcy protection Tuesday,
halting Wednesday's planned foreclosure sale of the undeveloped
land.  Gramercy Park Land LLC said it would seek to take advantage
of its stay in Chapter 11 protection to not only save the property
from foreclosure but to also eventually sell it through a
competitive auction.

DBR relates after several months of negotiations with developers,
the company secured a leading bid of $27.5 million from a
subsidiary of New York developer Alchemy Properties Inc.  New
York's Kaish & Taub is the current developer for the property that
Gramercy Park Land owns.  According to the developer's Web site,
it hoped to erect a 20-story, 144,000-square-foot condominium with
such amenities as a rooftop garden, gym, indoor pool, clubhouse
and ground-level retail space.  The individual units were to offer
high ceilings, balconies and deluxe kitchens.


GREEN ENDEAVORS: Swings to $43,939 Net Income in 2010
-----------------------------------------------------
Green Endeavors, Inc., filed with the U.S. Securities and Exchange
Commission its annual report on Form 10-K reporting net income of
$43,939 on $2.25 million of total revenue for the year ended
Dec. 31, 2010, compared with a net loss of $385,160 on $2.04
million of total revenue during the prior year.

The Company's balance sheet at Dec. 31, 2010 showed $1.08 million
in total assets, $4.42 million in total liabilities and $3.34
million in total stockholders' deficit.

Madsen & Associates CPA', Inc., in Salt Lake City, Utah, expressed
substantial doubt about the Company's ability to continue as a
going concern.  The accountants noted that the Company will need
additional working capital for its planned activity and to service
its debt.

A full-text copy of the annual report on Form 10-K is available
for free at http://is.gd/1XMhGF

Salt Lake City, Utah-based Green Endeavors, Inc., runs two hair
care salons that feature Aveda(TM) products for retail sale.


GRUBB & ELLIS: Gets $18MM Financing Commitment From Colony Capital
------------------------------------------------------------------
Grubb & Ellis Company announced on March 30, 2011, that it has
received an $18 million financing commitment from Colony Capital,
LLC, a private, international investment firm focusing primarily
on debt and equity investments in real estate-related assets and
operating companies, headquartered in Los Angeles.  In conjunction
with this financing, Colony was granted the right to an exclusive
60-day negotiating period during which it can evaluate a potential
larger strategic investment with Grubb & Ellis.

"Colony Capital is a premier real estate investment and advisory
firm with a strong track record of identifying undervalued real
estate and corporate investment opportunities, and we welcome
their support and the confidence they have shown in Grubb &
Ellis," said Thomas P. D'Arcy, president and chief executive
officer.  "We will work with Colony over the next 60 days as they
focus on a possible larger strategic transaction. With this show
of support by Colony, our clients and partners should feel
confident that our experienced team of professionals will continue
to provide the same outstanding service that they have come to
expect from us."

Should the company and Colony enter into a definitive agreement
for a strategic transaction, Grubb & Ellis retains the right to
solicit competing strategic transactions for a period of 25
business days.

JMP Securities served as financial advisor to Grubb & Ellis in
connection with this financing.

                    About Grubb & Ellis Company

Grubb & Ellis Company (NYSE: GBE) -- http://www.grubb-ellis.com/
-- is one of the largest commercial real estate services and
investment companies in the world.  The Company is headquartered
in Santa Ana, California.

As reported in the Troubled Company Reporter on July 1, 2010,
Grubb & Ellis Company reported a net loss of $24.1 million on
$132.5 million of revenue for the three months ended March 31,
2010, compared with a net loss of $43.3 million on $122.2 million
of revenue for the same period of 2009.

The Company's balance sheet at March 31, 2010, showed
$346.0 million in assets, $263.4 million of liabilities, and
$90.1 million of 12% cumulative participating perpetual
convertible preferred stock, for a stockholders' deficit of
$7.5 million.


HARRY & DAVID: Receives Court Approval of First Day Motions
-----------------------------------------------------------
Harry & David Holdings, Inc., announced on March 30, 2011, that it
has received approval from the U.S. Bankruptcy Court for the
District of Delaware for the Company's "first day" motions that
are designed to enable the Company to continue to operate in the
normal course of business without interruption.

Among the first day motions granted, Harry & David received
interim approval to access its $100 million first-lien debtor-in-
possession (DIP) revolving credit facility provided by the
Company's secured lenders, and a $55 million second-lien DIP term
loan provided by holders of the Company's senior notes.

The Company also received approval to continue to pay employees'
salaries, wages and benefits in the ordinary course, and the Court
confirmed the Company's ability to pay vendors for post-petition
goods and services.  In addition, the Company received approval to
allow all customer programs to continue uninterrupted, including
its Fruit-of-the-Month Club(R) and gift cards.

"We are pleased that the Court has promptly granted these motions,
which ensures the Company will be able to continue to operate in
the normal course and deliver on our commitment to providing
customers with the highest quality products and service," said Kay
Hong, Chief Restructuring Officer and interim Chief Executive
Officer. "Additionally, these motions will help Harry & David
implement a restructuring plan to strengthen our business and
emerge from this process as quickly as possible, better positioned
for future success."

As previously announced, the Company initiated voluntary Chapter
11 reorganization proceedings on March 28, 2011, after reaching an
agreement with holders of approximately 81% of its senior notes on
the terms of a reorganization that, if implemented successfully,
will result in the full conversion into equity of the Company's
$198 million of senior notes as well as a significant amount of
the Company's pre-petition general unsecured obligations.
Supporting noteholders have agreed to vote in favor of the
Company's pre-arranged plan and exchange their notes for common
equity, and have agreed to backstop a $55 million rights offering
that will provide Harry & David with the necessary equity
financing to emerge from Chapter 11. Other noteholders and
prepetition creditors will be offered the opportunity to
participate in the rights offering. The Company intends to move
forward with the restructuring on an expeditious basis and has
also secured a commitment from its current lenders to provide up
to $100 million in exit financing to facilitate its plan of
reorganization.

Consumers can continue to purchase Harry & David products through
our catalogs, online at www.harryanddavid.com and at our 70 stores
nationwide.  Customers may continue to direct inquiries to Harry &
David's customer support at (877) 322-1200.  Vendors and other
stakeholders can obtain additional information about the
reorganization by visiting www.gcginc.com/cases/had or by calling
(888) 425-7040. During the Chapter 11 process, the Company will
pay for post-petition purchases of goods and services in the
ordinary course of business.

                     About Harry & David Holdings

Medford, Oregon-based Harry & David Holdings, Inc. is a multi-
channel specialty retailer and producer of branded premium gift-
quality fruit and gourmet food products and gifts marketed under
the Harry & David(R), Wolferman's(R) and Cushman's(R) brands.  It
has 70 stores across the country.  Products are also available
online at http://www.harryanddavid.com/,
http://www.wolfermans.com/, and http://www.honeybell.com/

Harry & David is controlled by The Medford, Oregon-based retailer,
owned by investment funds controlled by Wasserstein & Co., which
hold 63% of the shares.  Affiliates of funds sponsored by
Highfields Capital Management LP own 34%.  The Company has $304.3
million in total assets, $360.8 million in total liabilities, and
a stockholders' deficit of $56.5 million at Dec. 25, 2010.

Harry & David and its units filed voluntary petitions for
protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.
Del. Lead Case No. 11-10884) on March 28, 2011, to implement an
agreed upon restructuring.  Harry & David reached an agreement
with holders of approximately 81% of its senior notes on the terms
of a reorganization that will eliminate substantial indebtedness
and provide equity financing to restructure the Company's balance
sheet.

Under a Plan Support Agreement, the Debtors must file a Chapter 11
plan on the terms agreed by the parties no later than May 16,
2011.  The Plan must be confirmed by Sept. 12, 2011, and the
Debtors must exit bankruptcy by Oct. 1, 2011.

Judge Mary F. Walrath presides over the case.  David G. Heiman,
Esq., Brad B. Erens, Esq., and Timothy W. Hoffman, Esq., at Jones
Day; and Daniel J. DeFranceschi, Esq., Paul Noble Heath, Esq.,
Zachary I Shapiro, Esq., at Richards Layton & Finger, serve as
bankruptcy counsel.  Rothschild Inc. serves as investment bankers,
Alvarez & Marsal LLC as financial advisors.  Garden City Group
Inc. serves as claims and notice agent.

Kristopher M. Hansen, Esq., and Erez E. Gilad, Esq., at Stroock &
Stroock & Lavan LLP; Thomas B. Walper, Esq., at Munger, Tolles &
Olson LLP; and Ira S. Dizengoff, Esq., at Akin Gump Strauss Hauer
& Feld LLP, serve as counsel to Principal Noteholders.  Moelis &
Company act as financial advisors to the Principal Noteholders.


HARRY & DAVID: Moody's Downgrades Default Rating to 'D'
-------------------------------------------------------
Moody's Investors Service downgraded Harry & David's Probability
of Default Rating to D from Ca.  The downgrade was prompted by
Harry & David's March 28, 2011 announcement that it voluntarily
filed for relief under Chapter 11 in the United States Bankruptcy
Code.

                        Ratings Rationale

Subsequent to the actions, Moody's will withdraw the ratings
because Harry & David has entered bankruptcy.  Please refer to
Moody's Withdrawal Policy on moodys.com.

These rating actions were taken:

  -- Probability of Default Rating downgraded to D from Ca

  -- Corporate Family Rating affirmed at Ca

  -- Senior unsecured floating rate notes due 2012 affirmed at C
     (LGD 5, 73%)

  -- Senior unsecured 9% fixed rate notes due 2013 affirmed at C
     (LGD 5, 73%)

The last rating action on Harry & David occurred on January 25,
2011, when Moody's downgraded the company's Corporate Family
Rating to Ca.

Harry & David produces and markets premium gift-quality fruit,
gourmet food products, and specialty gifts under the Harry and
David brand.  Distribution channels include print catalogues, the
internet, retail stores, and wholesale.  Annual revenues approach
$420 million.


HEALTH ADVENTURE: Files for Chapter 11, Plans to Remain Open
------------------------------------------------------------
The Health Adventure filed for bankruptcy protection and will try
to remain open despite a $3 million debt, according to CITIZEN-
TIMES.com.

According to the report, the popular children's science museum
also will put plans for a new $25 million museum in the Montford
neighborhood on hold indefinitely.  The museum nearly closed this
week before getting a last-minute partner.

The report says Hendersonville-based Park Ridge Health will help
support The Health Adventure as it continues operations and seeks
to reorganize under Chapter 11 protection.  Hospital officials
said they were still working out details of the arrangement.

Th report notes, the economy, a decline in donations and costs
that came with the new museum project, helped put The Health
Adventure in debt.

The Health Adventure, Inc., filed a petition for relief under
Chapter 11 (Bankr. W.D. N.C. Case No. 11-10299) on March 28, 2011.
David G. Gray, Esq., at Westall, Gray, Connolly & Davis, P.A., in
Asheville, North Carolina.  In its schedules, the Debtor disclosed
$1,433,700 in assets and  $4,272,158 in liabilities.

Health Adventure's case summary was published in yesterday's
Troubled Company Reporter.


HOPE SPRINGS: Looking for Buyers; Exploring Other Options
---------------------------------------------------------
Hope Springs Partners, LLC, said in a bankruptcy court filing that
it has begun evaluating other restructuring alternatives, in the
event that settlement discussions with secured lender U.S. Bank
N.A. are ultimately not productive.  The Debtor said that at this
early stage of the case, it is evaluating several potential
alternatives regarding the disposition of its assets.  The Debtor
disclosed it has initiated a marketing process to locate a
purchaser.  The Debtor is also evaluating refinancing the U.S.
Bank debt.   If these options are not viable, the Debtor may
determine that other options, such as proposing a standalone plan
of reorganization, constitute the best way to maximize recoveries
for the Debtor and its estate.

The Debtor has filed a motion seeking an extension of the
exclusive periods during which only the Debtor may file and
solicit votes to accept a chapter 11 plan through and including
June 20, 2011 and Aug. 17, 2011.  As reported by the Troubled
Company Reporter, U.S. Bank is opposing that request.

Absent an extension, the Debtor's Exclusive Plan Filing Period was
set to expire March 21, 2011.  The Exclusive Solicitation Period
is set to expire May 19, 2011.  A hearing has not been set on the
matter.

Prior to and since the Petition Date, the Debtor has been fully
immersed, among other things, in three key aspects of its
restructuring efforts: (a) stabilizing operations and negotiating
interim and final cash collateral orders with its, U.S. Bank; (b)
attempting to engage in settlement discussions with U.S. Bank; and
(c) exploring restructuring alternatives, including, but not
limited to, the potential sale of the Debtor's assets.  The
Debtor's management has been actively involved in reaching
settlement agreements with other project-level lenders, most
notably Wells Fargo Bank, National Association.

The Debtor has made progress with respect to all three of these
initiatives.  The Debtor noted in the court filing that it and
U.S. Bank have negotiated and reached agreements on the Debtor's
use of cash collateral, resulting in interim and final orders
approving such agreements.  These negotiations took well over a
month to conclude.  The Debtors have also attempted to engage U.S.
Bank in settlement negotiations.  These negotiations have moved
slowly and the Debtors need additional time to determine whether a
negotiated resolution with U.S. Bank is achievable.

Hope Springs Partners argued that an extension of the Exclusive
Periods is necessary to allow the Debtor to continue these
efforts, especially given the slow pace of settlement discussions
with U.S. Bank to this point.  Without such an extension, the
Exclusive Periods will expire in the midst of the Debtor's
restructuring efforts, presenting a risk of undue interference and
disruption to the entire process, to the detriment of the Debtor
and its estate.

In its objection, U.S. Bank does not believe that the Debtor has
made any meaningful efforts to propose or file a Chapter 11 plan
since commencing the Chapter 11 case.  U.S. Bank said that
although the Debtor alleges that it has taken a number of steps
towards reorganization, based upon the record of this Chapter 11
case, and based upon information provided to U.S. Bank by the
Debtor, it does not appear that the Debtor has accomplished much
in the Chapter 11 case other than the continued business
operations of the Debtor.

                    About Hope Springs Partners

Carmel, Indiana-based Hope Springs Partners, LLC, filed for
Chapter 11 bankruptcy protection on Nov. 19, 2010 (Bankr. S.D.
Ind. Case No. 10-17467), estimating assets at $10 million to
$50 million and debts at $1 million to $10 million.  No committee
of unsecured creditors has been appointed in the Chapter 11 case.

Jeffrey J. Graham, Esq., and Jerald I. Ancel, Esq., at Taft
Stettinius & Hollister LLP, originally represented the Debtor in
its restructuring effort.  They were terminated as of Dec. 22,
2010.  The Debtor is now being represented by Ross M. Kwasteniet,
Esq., at Kirkland & Ellis LLP.

Secured lender U.S. Bank is represented by Ronald E. Gold, Esq.,
and Joseph B. Wells, Esq., at Frost Brown Todd LLC.

On May 1, 2009, Lauth Investment Properties, LLC (Bankr. S.D. Ind.
Case No. 09-06065); LIP Development, LLC (Bankr. S.D. Ind. Case
No. 09-06066); LIP Investment, LLC (Bankr. S.D. Ind. Case No. 09-
06067) filed voluntary Chapter 11 petitions.  The cases were
jointly administered.

On Aug. 27, 2009, Moores Chapel Partners, LLC (Bankr. S.D. Ind.
Case No. 09-12656) filed for bankruptcy Code.  On Aug. 29, 2009,
Brier Creek Medical Associates Two, LLC (Bankr. S.D. Ind. Case No.
09-12760); Brier Creek Medical Associates, LLC (Bankr. S.D. Ind.
Case No. 09-12761); Brier Creek Medical Partners Two, LLC (Bankr.
S.D. Ind. Case No. 09-12762); Brier Creek Medical Partners, LLC
(Bankr. S.D. Ind. Case No. 09-12763); Brownsburg Station Partners,
LLC (Bankr. S.D. Ind. Case No. 09-12764); Meridian Medical
Associates Two, LLC (Bankr. S.D. Ind. Case No. 09-12766); Meridian
Medical Partners Two, LLC (09-12767); Middleburg Heights Medical
Associates, LLC (Bankr. S.D. Ind. Case No. 09-12768); Middleburg
Heights Medical Partners, LLC (Bankr. S.D. Ind. Case No. 09-
12769); Virginia Beach Medical Associates, LLC (Bankr. S.D. Ind.
Case No. 09-12770); and Virginia Beach Medical Partners, LLC
(Bankr. S.D. Ind. Case No. 09-12771).  The Lauth entities' cases
were jointly administered with the Moores Chapel entities' cases.

Indianapolis, Indiana-based North Pointe Partners One, LLC, filed
for Chapter 11 protection on May 10, 2010 (Bankr. S.D. Ind. Case
No. 10-06921).  The Company disclosed $15,347,769 in total assets
and $11,728,144 in total liabilities.  The North Pointe cases were
jointly administered with the Lauth entities' and the Moores
Chapel entities' cases.

On Nov. 5, 2010, the Court entered an order severing the North
Pointe Debtors Chapter 11 Cases and the chapter 11 case of MCP
Partners Three, LLC from the Lauth Debtors' chapter 11 cases.

The management of Hope Springs Partners also manages the Lauth
Debtors.  Hope Springs Partners' Chapter 11 case is not jointly
administered with the Lauth Debtors' cases.


HORIZON LINES: Incurs $57.97 Million Net Loss in 2010
-----------------------------------------------------
Horizon Lines, Inc., filed with the U.S. Securities and Exchange
Commission its annual report on Form 10-K, reporting a net loss of
$57.97 million on $1.16 billion of operating revenue for the
fiscal year ended Dec. 26, 2010, compared with a net loss of
$31.27 million on $1.12 billion of operating revenue for the
fiscal year ended Dec. 20, 2009.

The Company's balance sheet at Dec. 26, 2010 showed
$785.75 million in total assets, $745.96 million in total
liabilities and $39.79 million in total stockholders' equity.

Ernst & Young LLP, in Charlotte, North Carolina, expressed
substantial doubt about the Company's ability to continue as a
going concern.  Ernst & Young noted that there is uncertainty that
Horizon Lines will remain in compliance with certain debt
covenants throughout 2011 and will be able to cure the
acceleration clause contained in the convertible notes.

A full-text copy of the annual report on Form 10-K is available
for free at http://is.gd/4wZKkR

                       About Horizon Lines

Horizon Lines, Inc., based in Charlotte, North Carolina, through
its wholly-owned indirect operating subsidiary, Horizon Lines,
LLC, currently operates 11 of its 15 Jones Act qualified U.S.
flag container ships in Jones Act liner services between the
continental United States and either Alaska, Hawaii, or Puerto
Rico and five U.S. flag container ships between the Far East,
U.S. west coast and Guam.

                           *     *     *

As reported in the Troubled Company Reporter on March 8, 2011,
Moody's Investors Service said Horizon Lines, Inc.'s plea
agreement regarding antitrust matters in the Puerto Rico trade
lane is credit negative but does not at this time affect its
'Caa1' Corporate Family or its other debt ratings of Horizon.

The last rating action on Horizon was on May 18, 2010 when Moody's
lowered its ratings, including the corporate family rating to
'Caa1' and maintained the negative outlook.


HORIZON LINES: Moody's Downgrades Corp. Family Rating to 'Caa3'
---------------------------------------------------------------
Moody's Investors Service downgraded its ratings for Horizon
Lines, Inc., including the Corporate Family Rating and Probability
of Default Rating, each to Caa3 from Caa1, the senior secured debt
rating to B3 from B1 and the senior unsecured debt rating to Ca
from Caa3.  The rating outlook is negative.

Issuer: Horizon Lines, Inc.

  -- Probability of Default Rating, Downgraded to Caa3 from Caa1

  -- Corporate Family Rating, Downgraded to Caa3 from Caa1

  -- Senior Secured Bank Credit Facility, Downgraded to B3 LGD2
     20% from B1 LGD2 19%

  -- Senior Unsecured Conv./Exch. Bond/Debenture, Downgraded to Ca
     LGD5 82% from Caa3 LGD5 84%

                        Ratings Rationale

The downgrades reflect the increased probability of default that
accompanies the going concern audit opinion disclosed in the
company's 2010 Form 10-K as filed on March 28, 2011.  Horizon had
sought a consent from the holders of its $330 million of 4.25%
Senior Convertible Notes due August 2012 ("Notes") to waive an
event of default that arose from the company's recent settlement
with the U.S. Department of Justice to resolve the government's
investigation into price fixing in the Puerto Rico trade lane.
However, the holder(s) of the requisite 50% of the outstanding
notes did not consent, which has led to the entirety of the debt
structure being reported as current as of December 26, 2010.
"The lowering of the Notes rating to Ca reflects Moody's belief
that inaction by the noteholders brings Horizon closer to a
restructuring of its debt, and makes a distressed exchange for
the notes with a significant discount from face more likely,"
said Moody's Shipping Analyst, Jonathan Root.  "Ongoing weak
fundamentals across the company's trade lanes, particularly in
Puerto Rico and the niche, fast trans-Pacific service, and the
need to begin by mid- to late decade to replace an aged fleet
should weigh on the company's enterprise value, which will be an
important factor in any debt restructuring or debt refinancing
scenario," continued Root.

The negative outlook reflects the uncertainty of the company's
ability to avoid a debt restructuring (which Moody's would likely
deem to be a default), the probability of which has increased with
the noteholders' inaction regarding the consent, the receipt of
the auditor's going concern opinion and the step-up in quarterly
amortization of the term loan, starting with the December 31, 2011
payment.  The Notes' indenture provides a 60 day grace period for
the company to cure the default condition; however, Horizon does
not expect to be able to cure the default by May 21, 2011, the end
of the cure period.  Further complicating a refinancing is the
company's modest free cash flow profile and weak coverage of the
interest burden of the existing debt structure that benefits from
the relatively low coupon on the Notes.  Moody's also believes
that Horizon might need to seek further loosening of financial
covenants under the amended credit agreement prior to executing
any changes to its capital structure because weak operating
fundamentals could affect its ability to maintain compliance with
the recently loosened financial covenants.

Horizon maintains leading positions in its core Jones Act markets
and provides a key link in its customers' distribution chains and
the geographic regions it serves.  The restrictions of the Jones
Act could help the company navigate to a successful refinancing or
restructuring.  Moody's believes there are few companies that are
U.S. Jones Act-qualified that could take over the operations under
a reorganization scenario that contemplated the recapitalization
of the company.  Existing players would likely be excluded because
of anti-trust concerns in the already concentrated market.

Ratings could be further downgraded if the noteholders choose to
accelerate upon or after the expiration of the cure period, or if
the parties agree to a distressed exchange on the Notes, or if
Horizon pursues a Chapter 11 filing.  The ratings could be
upgraded if the company is able to achieve a refinancing.  Under a
distressed exchange scenario, the ratings could be upgraded after
recognizing the default that would occur if the current Notes
obligation is settled for less than $330 million or if the
maturity of the Notes is extended beyond their current maturity
date in August 2012.

The last rating action for Horizon was on May 18, 2010, when
Moody's lowered the corporate family and probability of default
ratings one notch each to Caa1, and the senior secured rating to
B1 from Ba3 and senior unsecured rating to Caa3 from Caa2.

Horizon Lines, Inc., based in Charlotte, North Carolina, through
its wholly-owned indirect operating subsidiary, Horizon Lines,
LLC, currently operates 11 of its 15 Jones Act-qualified U.S.
flag container ships in Jones Act liner services between the
continental United States and either Alaska, Hawaii, or Puerto
Rico and five U.S. flag container ships between the Far East,
U.S. West coast and Guam.


HOSPITAL DAMAS: Nears Plan Filing; Seeks Exclusivity Extension
--------------------------------------------------------------
Hospital Damas, Inc., is asking Bankruptcy Judge Mildred Caban
Flores in Puerto Rico to extend the exclusive periods during which
time the Debtor may file and solicit acceptances of a plan of
reorganization.

The Debtor said it is in the process of finally drafting its plan
of reorganization and disclosure statement and to do so, needs to
complete the assembly of the pertinent financial data, including
its audited financial statement as of Dec. 31, 2010, which is
being prepared by the Debtor's recently appointed auditors, FVP &
Galindez, PSC.  The Debtor also needs to complete the evaluation
of its executory contracts to finally determine those to be
assumed and rejected and the financial impact of such a decision,
as to which Julio Galindez, CPA, is to be involved due to his
expertise in healthcare matters.

The Debtor seeks an additional 68-day extension from March 24,
2011, through and including May 31, 2011, of the exclusive period
for it to file its plan and from May 24, 2011, through July 31,
2011, to seek acceptances of the plan without prejudice to seek
further extensions.

                       About Hospital Damas

Hospital Damas, Inc., based in Ponce, Puerto Rico, filed a
voluntary Chapter 11 petition (Bankr. D. P.R. Case No. 10-08844)
on Sept. 24, 2010.  Charles A. Curpill, PSC Law Office --
cacuprill@cuprill.com -- in San Juan, Puerto Rico; Luis R.
Carrasquillo & Co. -- luis@cpacarrasquillo.com -- in Caguas,
Puerto Rico, and Ruben Nieves Vazquez at Ofic. Procuradora Del
Paciente in San Juan, serve as counsel to the Debtor.

The U.S. Trustee has appointed an official Committee of Creditors
in the case.  The Committee is represented by Colin M. Bernardino,
Esq. -- cbernardino@kilpatrickstockton.com - and Todd C. Meyers,
Esq. -- tmeyers@kilpatrickstockton.com -- at Kilpatrick Stockton
LLP in Atlanta, Georgia, and Edgardo Munoz, PSC --
emunoz@emunoz.net -- in San Juan.

Rafael E. Garcia Rondon, on behalf of creditor Banco Popular
Puerto Rico, in San Juan, is represented by Maria Soledad Lozada
Figueroa Law Offices -- lcdamslozada@gmail.com -- in San Juan.

In its schedules, the Debtor disclosed US$24.0 million in total
assets and US$21.3 million in total liabilities as of the Petition
Date.


HOSPITAL DAMAS: Curpill Firm Seeks $84T for Dec.-March Work
-----------------------------------------------------------
Charles A. Curpill PSC Law Office has filed an application seeking
payment of $81,195 in fees and reimbursement of $3,027 in expenses
for the period from Dec. 7, 2010, to March 15, 2011, as counsel to
Hospital Damas, Inc.

                       About Hospital Damas

Hospital Damas, Inc., based in Ponce, Puerto Rico, filed a
voluntary Chapter 11 petition (Bankr. D. P.R. Case No. 10-08844)
on Sept. 24, 2010.  Charles A. Curpill, PSC Law Office --
cacuprill@cuprill.com -- in San Juan, Puerto Rico; Luis R.
Carrasquillo & Co. -- luis@cpacarrasquillo.com -- in Caguas,
Puerto Rico, and Ruben Nieves Vazquez at Ofic. Procuradora Del
Paciente in San Juan, serve as counsel to the Debtor.

The U.S. Trustee has appointed an official Committee of Creditors
in the case.  The Committee is represented by Colin M. Bernardino,
Esq. -- cbernardino@kilpatrickstockton.com - and Todd C. Meyers,
Esq. -- tmeyers@kilpatrickstockton.com -- at Kilpatrick Stockton
LLP in Atlanta, Georgia, and Edgardo Munoz, PSC --
emunoz@emunoz.net -- in San Juan.

Rafael E. Garcia Rondon, on behalf of creditor Banco Popular
Puerto Rico, in San Juan, is represented by Maria Soledad Lozada
Figueroa Law Offices -- lcdamslozada@gmail.com -- in San Juan.

In its schedules, the Debtor disclosed US$24.0 million in total
assets and US$21.3 million in total liabilities as of the Petition
Date.


HOSPITAL DAMAS: Creditors Panel Has OK to Probe Fundacion
---------------------------------------------------------
U.S. Bankruptcy Judge Mildred Caban Flores granted the request of
the Official Committee of Unsecured Creditors compelling Fundacion
Damas, Inc., to produce documents and appear for an examination
under Rule 2004 of Federal Rules of Bankruptcy Procedure, over
Fundacion's objection.  Judge Flores granted the request subject
to certain limitation.  The Committee may not examine or request
production of documents as they pertain exclusively to Fundacion
on certain matters indicated by the Court.

                       About Hospital Damas

Hospital Damas, Inc., based in Ponce, Puerto Rico, filed a
voluntary Chapter 11 petition (Bankr. D. P.R. Case No. 10-08844)
on Sept. 24, 2010.  Charles A. Curpill, PSC Law Office --
cacuprill@cuprill.com -- in San Juan, Puerto Rico; Luis R.
Carrasquillo & Co. -- luis@cpacarrasquillo.com -- in Caguas,
Puerto Rico, and Ruben Nieves Vazquez at Ofic. Procuradora Del
Paciente in San Juan, serve as counsel to the Debtor.

The U.S. Trustee has appointed an official Committee of Creditors
in the case.  The Committee is represented by Colin M. Bernardino,
Esq. -- cbernardino@kilpatrickstockton.com - and Todd C. Meyers,
Esq. -- tmeyers@kilpatrickstockton.com -- at Kilpatrick Stockton
LLP in Atlanta, Georgia, and Edgardo Munoz, PSC --
emunoz@emunoz.net -- in San Juan.

Rafael E. Garcia Rondon, on behalf of creditor Banco Popular
Puerto Rico, in San Juan, is represented by Maria Soledad Lozada
Figueroa Law Offices -- lcdamslozada@gmail.com -- in San Juan.

In its schedules, the Debtor disclosed US$24.0 million in total
assets and US$21.3 million in total liabilities as of the Petition
Date.


IL LUGANO: Hearing on Adequate Protection Motion Continued
----------------------------------------------------------
The Bankruptcy Court will continue on April 5, 2011, at 10:00
a.m., the hearing on the request by IL Lugano, LLC, for an order
granting Adequate Protection Lien to Deutsche Bank AG, New York
Branch, as agent.

Il Lugano is a wholly owned subsidiary of SageCrest Vegas LLC,
which is a wholly owned subsidiary of SageCrest II LLC.
SageCrest II, SageCrest Finance LLC, and SageCrest Holdings
Limited are part of a group of funds that were formed to address
the financial needs of companies that have been shut off from
traditional sources of capital.  On Aug. 17, 2008, SageCrest II
and SageCrest Finance each filed for Chapter 11 bankruptcy.  On
Aug. 20, 2008, SageCrest Holdings filed its voluntary chapter 11
petition.  The chapter 11 cases of the SageCrest Debtors and
certain of their subsidiaries and affiliates are jointly
administered under Case No. 08-50754.

Pursuant to orders entered by the Court in the SageCrest Debtors'
bankruptcy cases authorizing them to use cash in which Deutsche
Bank asserted a security interest to fund the SageCrest Debtors'
operations during their bankruptcy cases, the Court authorized the
use of those funds to provide funding to Il Lugano in accordance
with an approved budget.  In recognition of the fact that the Cash
Collateral Orders contemplated that the Cash Collateral would be
used for the benefit of a debtor in another chapter 11 case, the
Court granted DB adequate protection liens in Il Lugano's
Bankruptcy Case. The Court further directed Il Lugano to file an
appropriate motion for the entry of an order granting that relief
in its bankruptcy case.  Accordingly, Il Lugano filed the Adequate
Protection Motion in compliance with the Cash Collateral Orders'
directives.

Deutsche Bank consented to the SageCrest Debtors' use of Cash
Collateral for the benefit of Il Lugano only if DB receives the
adequate protection to which it is entitled under sections 363 and
361(2) of the Bankruptcy Code for the diminution in the value of
its collateral, if any.

                          About Il Lugano

Il Lugano LLC's main asset is a four-star, boutique-styled, luxury
condominium and hotel property located in Ft. Lauderdale,
Florida.

Il Lugano filed for Chapter 11 bankruptcy (Bankr. D. Conn. Case
No. 08-50811) on Aug. 29, 2008, Judge Alan H.W. Shiff presiding.
Douglas J. Buncher, Esq. -- dbuncher@neliganlaw.com -- at Neligan
Foley LLP in Dallas, Texas, and James Berman, Esq. --
jberman@zeislaw.com -- at Zeisler and Zeisler in Bridgeport,
Connecticut, serve as the Debtor's bankruptcy counsel.  When the
Debtor filed for protection from its creditors, it listed assets
of between $50 million and $100 million and debts of between
$1 million and $10 million.

IL Lugano filed for bankruptcy to prevent any adverse judgment and
subsequent enforcement actions against IL Lugano in a lawsuit
filed by EPI NCL, LLLC, in the Circuit Court of the 17th Judicial
Circuit of Broward County, Florida, which was set for trial on
September 2, 2008, and to allow adequate time for completion of
the restaurant and sale of the property.

SageCrest II is also in chapter 11 proceedings (Bankr. D. Conn.
Case No. 08-50754) before the Connecticut Bankruptcy Court.


IMPERIAL INDUSTRIES: Incurs $1.23 Million Net Loss in 2010
----------------------------------------------------------
Imperial Industries, Inc., filed with the U.S. Securities and
Exchange Commission its annual report on Form 10-K, reporting a
net loss of $1.23 million on $8.23 million of net sales for the
year ended Dec. 31, 2010, compared with a net loss of
$5.30 million on $8.63 million of net sales during the prior year.

The Company also reported net income of $224,000 on $1.76 million
of net sales for the three months ended Dec. 31, 2010, compared
with a net loss of $1.06 million on $1.77 million of net sales for
the same period during the prior year.

The Company's balance sheet at Dec. 31, 2010 showed $6.11 million
in total assets, $7.16 million in total liabilities and a $1.05
million total stockholders' deficit.

S. Daniel Ponce, Imperial's chairman of the board, stated: "Our
sales and operating results in 2010 continued to be negatively
impacted by the poor economic conditions existing in the
construction industry.  Factors such as high unemployment, low
consumer confidence, a high number of foreclosed properties, low
job growth and tight credit have significantly affected the
industry.  Although we expect 2011 to be another difficult year in
the construction industry, we believe that we have sufficient
liquidity to support our operations for the ensuing year with no
immediate need for financing."

Grant Thornton LLP, in Fort Lauderdale, Fla., expressed
substantial doubt about the Company's ability to continue as a
going concern.  Grant Thornton noted that the industry in which
the Company is operating has been impacted by a number of factors
and accordingly, the Company has experienced a significant
reduction in its sales volume.  Grant Thornton added that for the
year ended Dec. 31, 2010, the Company has a loss from continuing
operations of approximately $596,000.

A full-text copy of the annual report on Form 10-K is available
for free at http://is.gd/7klupS

                     About Imperial Industries

Pompano Beach, Fla.-based Imperial Industries, Inc. (OTC BB: IPII)
-- http://www.imperialindustries.com/-- manufactures and
distributes stucco, plaster and roofing products to building
materials dealers, contractors and others through its subsidiary,
Premix-Marbletite Manufacturing Co.  The Company sells its
products primarily in the State of Florida and to a certain extent
the rest of the Southeastern United States.


INNKEEPERS USA: Plan Exclusivity Extended Until June 30
-------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Innkeepers USA Trust resolved several limited
objections and was given an extension until June 30 of the
exclusive right to propose a Chapter 11 plan.

                       Five Mile-Lehman Plan

As reported in the Jan. 25, 2011 edition of the Troubled Company
Reporter, the Debtor filed a Chapter 11 plan based where Five Mile
Capital Partners and Lehman Ali Inc. would bankroll Innkeepers'
exit and turn the Company over to creditors, absent higher and
better offers.

According to Mr. Rochelle, Innkeepers hashed out a revised plan as
In March with help from conferences with U.S. Bankruptcy Judge
Shelley C. Chapman.  The new reorganization plan, to be filed in
April, is designed to satisfy most objections from the creditors'
committee and preferred shareholders.  Under the new proposal, as
with the prior version from January, Lehman Ali Inc. and Five Mile
Capital Partners LLC will acquire the new equity, assuming no
better bid appears at auction.

According to Mr. Rochelle, the terms of the revised plan are:

  * Lehman and Five Mile no longer will be buying seven hotel
    properties.  Those hotels will be dealt with through a
    separate Chapter 11 plan.

  * The preferred shareholders will be free to craft a separate
    plan for the seven hotels that aren't subject to the blanket
    mortgages that Lehman and Midland Loan Services Inc. have on
    the 65 other properties.  Preferred shareholders had objected
    that the prior version of the plan would have forced them to
    take $5.9 million cash in exchange for their shares.  They
    claimed that there was more equity in the seven hotels.

  * As in January, Five Mile and Lehman Ali, a subsidiary of
    Lehman Brothers Holdings Inc., together will provide
    $174.1 million of equity capital and convert $200.3 million of
    Lehman's debt into equity. Five Mile is the provider of
    $53 million in secured financing for the Chapter 11 case, and
    Lehman is the holder of $238 million in floating-rate
    mortgages on 20 of Innkeepers' 72 properties.

  * Midland, as servicer for $825 million of fixed-rate mortgage
    debt on 45 properties, will emerge from Chapter 11 with
    mortgages for $622.5 million on revised terms.

  * As before, Lehman is to receive 50 percent of the new
    equity plus $26.2 million cash in exchange for all its debt.
    The secured loans for the Chapter 11 case will be paid in
    full. For its equity contribution, Five Mile is to have the
    other half of the new equity.

  * Unsecured creditors previously were offered $2.5 million in
    cash in return for voting in favor of the plan. To garner
    their support, the pot was increased to $3.75 million so
    unsecured creditors can recover as much as 65 percent. Secured
    lenders' deficiency claims won't participate in the
    distribution to unsecured creditors. Also, preference suits
    against unsecured creditors will be waived.

  * Apollo Investment Corp., Innkeepers' current owner, is to
    receive releases of claims from the company and creditors in
    return for supplying $375,000 of the pot for unsecured claims.

An auction will be held in about two months to test whether there
is a better offer for the 65 hotels.  The change of ownership
after the auction would take place when a Chapter 11 plan is
confirmed for the properties.  Innkeepers says the transaction for
the 65 hotels is valued at $971 million, including $622.5 million
in debt and $348.2 million of equity.

With Lehman and Midland, the plan is supported by holders of more
than $1 billion of $1.29 billion of pre-bankruptcy secured debt.
If someone else bids at auction, the offer must contain enough
cash so Lehman is paid at least $200.3 million in cash.

Any competing bid must be at least $363.2 million in cash, to take
advantage of the Midland financing and cover all the items in the
Lehman-Midland sponsored plan, plus an overbid.

                     About Innkeepers USA Trust

Innkeepers USA Trust is a self-administered Maryland real estate
investment trust with a primary business focus on acquiring
premium-branded upscale extended-stay, mid-priced limited service,
and select-service hotels.

Innkeepers, through its indirect subsidiaries, owns and operates
an expansive portfolio of 72 upscale and mid-priced extended-stay
and select-service hotels, consisting of approximately 10,000
rooms, located in 20 states across the United States.

Apollo Investment Corporation acquired Innkeepers in June 2007.

Innkeepers USA Trust and 91 affiliates filed for Chapter 11
protection on July 19, 2010 (Bankr. S.D.N.Y. Case No. 10-13800).
Paul M. Basta, Esq., at Kirkland & Ellis LLP, in New York; Anup
Sathy, P.C., Esq., Marc J. Carmel, Esq., at Kirkland & Ellis in
Chicago; and Daniel T. Donovan, Esq., at Kirkland & Ellis in
Washington, D.C., serve as counsel to the Debtors.  AlixPartners
is the restructuring advisor and Marc A. Beilinson is the chief
restructuring officer.  Moelis & Company is the financial advisor.
Omni Management Group, LLC, is the claims and notice agent.
Attorneys at Morrison & Foerster, LLP, represent the Official
Committee of Unsecured Creditors.

The Company's consolidated assets for 2009 totaled approximately
$1.5 billion.  As of July 19, 2010, the Company and its affiliates
have incurred approximately $1.29 billion of secured debt.


INTERNATIONAL ENERGY: Case Summary & Creditors List
---------------------------------------------------
Debtor: International Energy Holdings Corp.
          fka International CRO Holdings Corp.
              Cornerstone Brad, LLC, The
              Bison Renewable Energy, LLC
        8905 Regents Park Drive, Suite 210
        Tampa, FL 33647

Bankruptcy Case No.: 11-05547

Chapter 11 Petition Date: March 28, 2011

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

Debtor's Counsel: Richard J. McIntyre, Esq.
                  MCINTYRE, PANZARELLA, THANASIDES & ELEFF
                  6943 East Fowler Avenue
                  Temple Terrace, FL 33617
                  Tel: (813) 899-6059
                  Fax: (813) 899-6069
                  E-mail: rich@mcintyrefirm.com

Scheduled Assets: $13,212,668

Scheduled Debts: $14,331,482

The petition was signed by Murty Azzarapu, president.

Debtor's List of 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
HCI Construction                   Trade Debt           $4,317,478
1505 Stable Drive
So. Sioux City, NE 68776

HCI Construction                   Trade Debt           $1,416,619
1505 Stable Drive
So. Sioux City, NE 68776

Arlon Sandbulte                    Lot                  $1,187,281
108 4th Avenue, SE
Sioux Center

Midwestern Mechanical Inc.         Trade Debt             $719,621
4105 North Lewis Avenue
Sioux Falls, SD 57104

Thompson Electric Company          Trade Debt             $695,467
721 14th Street
Sioux City, IA 51105

Green Capital                      Note Payable Loan      $632,466
3500 South Phillips Avenue, Suite 241
Sioux Falls, SD 57105

IN Control                         Account Payable -      $505,498
10350 Jamestown Street, NE         Trade Debt
Blaine, MN 55449

Boer & Sons                        Trade Debt             $410,838
3934 320th Street
Boyden, IA 51234

GCC Alliance Concrete Inc.         Trade Debt             $246,143

Sioux City Foundry                 Trade Debt             $193,792

Albenesius Contracting             Trade Debt             $166,650

Dudley & Smith                     Trade Debt             $137,201

Lite Form Technologies             Trade Debt             $110,752

Fluid Technology                   Trade Debt             $108,630

Wunderlichmalec Engineering        --                     $108,128

Sioux County Treasurer             Real Estate Taxes       $86,731

Combustion Control                 Account Payable -       $85,838
                                   Trade Debt

Electric Pump Inc.                 Trade Debt              $73,663

TCE, Inc.                          Account Payable -       $71,776
                                   Trade Debt

Sheff & Sons                       Trade Debt              $61,030


JAMES RIVER: Completes Sale of 7.47MM Common Shares for $170.73MM
-----------------------------------------------------------------
James River Coal Company, on March 23, 2011, entered into an
underwriting agreement with UBS Securities LLC and Deutsche Bank
Securities Inc., as representatives of the several underwriters,
pursuant to which the Company agreed to sell 6,650,000 shares of
its common stock, par value $0.01 per share, plus up to an
additional 997,500 of Common Stock subject to the Underwriters'
over-allotment option, to the Underwriters at a price per share of
$23.50, such shares to be offered for resale by the Underwriters
under a prospectus filed with the Securities and Exchange
Commission pursuant to the Company's registration statement on
Form S-3, which became effective on Sept. 23, 2010 and was
subsequently amended on several occasions and supplemented by a
Registration Statement on Form S-3 relating to the Common Stock
that was filed with the SEC on March 22, 2011 pursuant to Rule
462(b) under the Securities Act of 1933, as amended.  On March 25,
2011, the Underwriters exercised the over-allotment option granted
by the Company and as a result purchased the additional 997,500
shares of Common Stock.

The Common Stock Offering was completed on March 29, 2011,
resulting in the sale of 7,467,500 shares of Common Stock to the
Underwriters and net proceeds to the Company of approximately
$170.73 million (after payment of the underwriting discount, but
excluding estimated offering expenses).

                         About James River

Headquartered in Richmond, Virginia, James River Coal Company
(NasdaqGM: JRCC) -- http://www.jamesrivercoal.com/-- mines,
processes and sells bituminous steam and industrial-grade coal
primarily to electric utility companies and industrial customers.
The company's mining operations are managed through six operating
subsidiaries located throughout eastern Kentucky and in southern
Indiana.

The Company's balance sheet at Dec. 31, 2010 showed
$784.56 million in total assets, $537.18 million in total
liabilities and $247.38 million in total shareholders' equity.

                         *     *     *

James River carries a 'B' corporate credit rating from Standard &
Poor's Ratings Services, and 'B3' corporate family rating from
Moody's Investors Service.

As reported by the TCR on March 25, 2011, Moody's Investors
Service upgraded James River Coal Company's Corporate Family
Rating to 'B3' from 'Caa2'.  The rating upgrade reflects post-
acquisition potential for significant increase in JRCC's
metallurgical coal production, increase in operational diversity
within Central Appalachia, and greater access to export markets.

The S&P corporate rating was upgraded from 'B-' in March 2011.
"The upgrade reflects S&P's view that the IRP acquisition provides
James River Coal exposure to the attractive metallurgical coal
market," said Standard & Poor's credit analyst Fred Ferraro.  "The
acquisition also adds management experience in overseas marketing,
and expands the company's reserve life.  Furthermore, S&P expects
that it will be funded in a way that is consistent with the
current capital structure so as to maintain the current credit
metrics."


JAMES RIVER: Sells $230-Mil. Notes; Over-Allotment Exercised
------------------------------------------------------------
James River Coal Company, on March 23, 2011, entered into a
purchase agreement with Deutsche Bank Securities Inc. and UBS
Securities LLC, as representatives of the several initial
purchasers, pursuant to which the Company agreed to sell $200
million principal amount of 3.125% convertible senior notes due
2018, plus up to an additional $30 million of Convertible Senior
Notes subject to the Initial Purchasers' over-allotment option, to
the Initial Purchasers in a private placement to qualified
institutional buyers pursuant to Rule 144A under the Securities
Act.  On March 24, 2011, the Initial Purchasers exercised the
over-allotment option granted by the Company and as a result
purchased the additional $30 million principal amount of
Convertible Senior Notes.

The Convertible Senior Notes Offering was completed on March 29,
2011, resulting in the sale of $230 million principal amount of
Convertible Senior Notes to the Initial Purchasers and net
proceeds to the Company of approximately $223.10 million (after
payment of the Initial Purchasers' discount, but excluding
estimated offering expenses).

The Company issued the Convertible Senior Notes under an indenture
dated as of March 29, 2011, between the Company and U.S. Bank
National Association, as trustee.  The Convertible Senior Notes
bear interest at a rate of 3.125% per annum, payable semi-annually
in arrears on March 15 and September 15 of each year, beginning on
Sept. 15, 2011.  The Convertible Senior Notes will mature on
March 15, 2018 subject to earlier repurchase or conversion.

Holders may convert their Convertible Senior Notes at their option
prior to Dec. 15, 2017 under the following circumstances:

   (1) the Convertible Senior Notes will be convertible during any
       calendar quarter after the calendar quarter ending June 30,
       2011, and only during such calendar quarter, if the closing
       sale price of the Common Stock for each of 20 or more
       trading days in a period of 30 consecutive trading days
       ending on the last trading day of the immediately preceding
       calendar quarter exceeds 130% of the conversion price of
       such Convertible Senior Notes in effect on the last trading
       day of the immediately preceding calendar quarter;

   (2) the Convertible Senior Notes will be convertible during the
       five consecutive business days immediately after any five
       consecutive trading day period in which the trading price
       per $1,000 principal amount of the Convertible Senior Notes
       for each trading day of that Note Measurement Period was
       equal to or less than 97% of the product of the closing
       sale price of shares of Common Stock and the applicable
       conversion rate for such trading day;

   (3) the Convertible Senior Notes will be convertible if the
       Company makes certain distributions on the Common Stock or
       engages in certain corporate transactions; and

   (4) the Convertible Senior Notes will be convertible if the
       acquisition by the Company of International Resource
       Partners LP and its subsidiaries is not consummated and the
       Company exercises its related option to redeem the
       Convertible Senior Notes.

In addition, the Convertible Senior Notes will be convertible
irrespective of the foregoing circumstances from, and including,
Dec. 15, 2017 to, and including, the business day immediately
preceding the maturity date of the Convertible Senior Notes.

Upon conversion, the Company will have a right to deliver cash,
shares of Common Stock or a combination thereof.  The initial
conversion rate for the Convertible Senior Notes will be 32.7332
shares of Common Stock per $1,000 principal amount of the
Convertible Senior Notes, representing an initial conversion price
of approximately $30.55 per share of Common Stock.  The conversion
rate, and thus the conversion price, will be subject to adjustment
in certain events but will not be adjusted for accrued interest,
including any additional interest.  In addition, the conversion
rate will be increased for holders who elect to convert their
Convertible Senior Notes in connection with certain events
constituting a make-whole fundamental change.

Upon a fundamental change, holders may require the Company to
repurchase all or a portion of their Convertible Senior Notes at a
purchase price in cash equal to 100% of the principal amount of
the Convertible Senior Notes to be repurchased, plus any accrued
and unpaid interest to, but excluding, the fundamental change
repurchase date.  Such repurchase would constitute an event of
default under the Company's existing revolving credit facility
which would allow the lenders under the Company's existing
revolving credit facility to foreclose on their collateral,
terminate their commitments and accelerate their loans, which
would trigger an event of default with respect to the Convertible
Senior Notes.  The Convertible Senior Notes are not redeemable at
the Company's option prior to maturity.

The Convertible Senior Notes Indenture contains customary terms
and covenants, including that upon certain events of default
occurring and continuing, either the Trustee or the holders of not
less than 25% in aggregate principal amount of the Convertible
Senior Notes then outstanding may declare the unpaid principal of
the Convertible Senior Notes and any accrued and unpaid interest
thereon immediately due and payable.  In the case of certain
events of bankruptcy, insolvency or reorganization relating to the
Company, the principal amount of the Convertible Senior Notes
together with any accrued and unpaid interest thereon will
automatically become and be immediately due and payable.

The Convertible Senior Notes will rank equally with all of the
Company's existing and future senior unsecured indebtedness.  The
Convertible Senior Notes will be effectively subordinated to all
of the Company's existing and future secured indebtedness and
structurally subordinated to all existing and future liabilities
of the Company's subsidiaries, including trade payables.  The
Convertible Senior Notes Indenture does not limit the amount of
debt that the Company or its subsidiaries may incur.

The Company will pay additional interest at a rate of 0.50% per
annum on the Convertible Senior Notes if, at any time during the
six-month period beginning on, and including the date which is six
months after the last date of original issuance of the Convertible
Senior Notes, the Company fails to timely file any document or
report that it is required to file with the Securities and
Exchange Commission pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934, as amended, as applicable (after
giving effect to all applicable grace periods thereunder and other
than reports on Form 8-K), or the Convertible Senior Notes are not
otherwise freely tradable by holders other than the Company's
affiliates (as a result of restrictions pursuant to U.S.
securities law or the terms of the Convertible Senior Notes
Indenture or the Convertible Senior Notes).  Further, if, and for
so long as, the restrictive legend on the Convertible Senior Notes
has not been removed, the Convertible Senior Notes are assigned a
restricted CUSIP number or the Convertible Senior Notes are not
otherwise freely tradable by holders other than the Company's
affiliates (without restrictions pursuant to U.S. securities law
or the terms of the Convertible Senior Notes Indenture or the
Convertible Senior Notes) as of the 365th day after the last date
of original issuance of the Convertible Senior Notes, the Company
will pay additional interest at a rate of 0.50% per annum on the
Convertible Senior Notes until the Convertible Senior Notes are
freely tradable.

If the Company fails to deliver to the Trustee a copy of each
report that the Company is required to file with the Securities
and Exchange Commission pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934, as amended (after giving effect
to all applicable grace periods thereunder) and to otherwise
comply with the requirements of Section 314(a) of the Trust
Indenture Act of 1939, as amended, the Company will, for the first
180 days immediately following the occurrence of such event of
default, pay additional interest at a rate of (i) 0.25% of the
outstanding principal amount of the Convertible Senior Notes for
the first 90 days following the occurrence of such event of
default and (ii) 0.50% of the outstanding principal amount of the
Convertible Senior Notes for the next 90 days after the first 90
days following the occurrence of such event of default.

In reliance upon recent changes to registration requirements, the
Company is not required to and does not intend to file a shelf
registration statement for the resale of the Convertible Senior
Notes or any Common Stock issuable upon conversion of the
Convertible Senior Notes.  As a result, holders may only resell
their Convertible Senior Notes or any Common Stock issuable upon
conversion of the Convertible Senior Notes pursuant to an
exemption from the registration requirements of the Securities
Act.

                         About James River

Headquartered in Richmond, Virginia, James River Coal Company
(NasdaqGM: JRCC) -- http://www.jamesrivercoal.com/-- mines,
processes and sells bituminous steam and industrial-grade coal
primarily to electric utility companies and industrial customers.
The company's mining operations are managed through six operating
subsidiaries located throughout eastern Kentucky and in southern
Indiana.

The Company's balance sheet at Dec. 31, 2010 showed
$784.56 million in total assets, $537.18 million in total
liabilities and $247.38 million in total shareholders' equity.

                         *     *     *

James River carries a 'B' corporate credit rating from Standard &
Poor's Ratings Services, and 'B3' corporate family rating from
Moody's Investors Service.

As reported by the TCR on March 25, 2011, Moody's Investors
Service upgraded James River Coal Company's Corporate Family
Rating to 'B3' from 'Caa2'.  The rating upgrade reflects post-
acquisition potential for significant increase in JRCC's
metallurgical coal production, increase in operational diversity
within Central Appalachia, and greater access to export markets.

The S&P corporate rating was upgraded from 'B-' in March 2011.
"The upgrade reflects S&P's view that the IRP acquisition provides
James River Coal exposure to the attractive metallurgical coal
market," said Standard & Poor's credit analyst Fred Ferraro.  "The
acquisition also adds management experience in overseas marketing,
and expands the company's reserve life.  Furthermore, S&P expects
that it will be funded in a way that is consistent with the
current capital structure so as to maintain the current credit
metrics."


JAMES RIVER: Nets $268.81-Mil. from Sale of Senior Notes
--------------------------------------------------------
James River Escrow Inc. entered into a purchase agreement with
initial purchasers, pursuant to which the Company agreed to sell
$275 million principal amount of 7.875% senior notes due 2019 to
the Initial Purchasers in a private placement to qualified
institutional buyers pursuant to Rule 144A under the Securities
Act and to non-U.S. persons in transactions that occur outside the
United States within the meaning of Regulation S under the
Securities Act.

On March 29, 2011, the Senior Notes Offering was completed,
resulting in the sale of $275 million principal amount of Senior
Notes to the Initial Purchasers and net proceeds to James River
Escrow Inc. of approximately $268.81 million.

James River Escrow Inc., a newly formed, wholly-owned,
unrestricted subsidiary of the Company, issued the Senior Notes
under an indenture dated as of March 29, 2011, between James River
Escrow Inc. and the Trustee.  The Company will assume its
subsidiary's obligations under the Senior Notes and the Senior
Notes Indenture if the escrow conditions are satisfied.  The
Senior Notes bear interest at a rate of 7.875% per annum, payable
semiannually in arrears on April 1 and October 1 of each year,
beginning on Oct. 1, 2011.  The Senior Notes will mature on
April 1, 2019.

The net proceeds of the Senior Note Offering, together with
additional amounts necessary to redeem the Senior Notes, were
deposited into a segregated escrow account on March 29, 2011,
pursuant to an escrow agreement dated as of March 29, 2011,
between James River Escrow Inc., U.S. Bank National Association,
as trustee and escrow agent, and, solely with respect to certain
sections therein, the Company.  The Escrow Funds will remain in
escrow until the date on which the escrow conditions described in
the Senior Notes Purchase Agreement are satisfied, including the
closing of the IRP Acquisition, the concurrent assumption by the
Company of all obligations of James River Escrow Inc. under the
Senior Notes, the Senior Notes Indenture and the registration
rights agreement, dated as of March 29, 2011, between James River
Escrow Inc. and Deutsche Bank Securities Inc. and UBS Securities
LLC, as representatives of the Initial Purchasers relating to the
Senior Notes, and the issuance of guarantees of the Senior Notes
by the subsidiaries of the Company.

If the escrow conditions are not satisfied on or before June 1,
2011 or such earlier date on which the Company determines in its
sole discretion that any of the escrow conditions cannot be
satisfied, James River Escrow Inc. will be required to redeem the
Senior Notes at a redemption price equal to 100% of the aggregate
initial offering price of the Senior Notes, together with accrued
and unpaid interest from the issue date to, but excluding, the
redemption date.

Upon the assumption of the Senior Notes by the Company, the Senior
Notes will be the Company's general senior unsecured obligations
and will rank equally in right of payment with all of the
Company's existing and future senior indebtedness and senior in
right of payment to all of the Company's future subordinated
indebtedness.  Upon such assumption, the Senior Notes will be
guaranteed on a senior unsecured basis by each of the Company's
existing and future domestic restricted subsidiaries, including
IRP and its subsidiaries.

James River Escrow Inc. may redeem some or all of the Senior Notes
on or after April 1, 2015 at the redemption prices specified in
the Senior Notes Indenture together with accrued and unpaid
interest, if any, to, but excluding, the redemption date.  In
addition, after the assumption of the Senior Notes by the Company,
the Company may redeem up to 35% of the aggregate principal amount
of the Senor Notes and any additional notes initially issued under
the indenture before April 1, 2014, with the net cash proceeds
from certain equity offerings.  If the Company undergoes certain
kinds of changes of control or makes certain asset sales, it may
be required to offer to purchase the Senior Notes from holders at
a purchase price equal to 101.0% of the principal amount thereof,
plus accrued and unpaid interest, if any, to the purchase date.

James River Escrow Inc. has agreed pursuant to a the RRA, and the
Company will agree in connection with its assumption of the Senior
Notes, to use commercially reasonable efforts to file a
registration statement pursuant to which the Company will offer to
exchange the Senior Notes for substantially similar notes that are
registered under the Securities Act or, if required, to file a
shelf registration statement to cover resales of the Senior Notes
under certain circumstances.

The Senior Notes Indenture contains customary terms and covenants,
including that upon certain events of default occurring and
continuing, either the Trustee or the holders of not less than 25%
in aggregate principal amount of the Senior Notes then outstanding
may declare the unpaid principal of the Senior Notes and any
accrued and unpaid interest thereon immediately due and payable.
In the case of certain events of bankruptcy, insolvency or
reorganization relating to the Company, the principal amount of
the Senior Notes together with any accrued and unpaid interest
thereon will automatically become and be immediately due and
payable.

                         About James River

Headquartered in Richmond, Virginia, James River Coal Company
(NasdaqGM: JRCC) -- http://www.jamesrivercoal.com/-- mines,
processes and sells bituminous steam and industrial-grade coal
primarily to electric utility companies and industrial customers.
The company's mining operations are managed through six operating
subsidiaries located throughout eastern Kentucky and in southern
Indiana.

The Company's balance sheet at Dec. 31, 2010 showed
$784.56 million in total assets, $537.18 million in total
liabilities and $247.38 million in total shareholders' equity.

                         *     *     *

James River carries a 'B' corporate credit rating from Standard &
Poor's Ratings Services, and 'B3' corporate family rating from
Moody's Investors Service.

As reported by the TCR on March 25, 2011, Moody's Investors
Service upgraded James River Coal Company's Corporate Family
Rating to 'B3' from 'Caa2'.  The rating upgrade reflects post-
acquisition potential for significant increase in JRCC's
metallurgical coal production, increase in operational diversity
within Central Appalachia, and greater access to export markets.

The S&P corporate rating was upgraded from 'B-' in March 2011.
"The upgrade reflects S&P's view that the IRP acquisition provides
James River Coal exposure to the attractive metallurgical coal
market," said Standard & Poor's credit analyst Fred Ferraro.  "The
acquisition also adds management experience in overseas marketing,
and expands the company's reserve life.  Furthermore, S&P expects
that it will be funded in a way that is consistent with the
current capital structure so as to maintain the current credit
metrics."


JOY INVESTMENT: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Joy Investment Group, LLC
        1410 S Olive St.
        Los Angeles, CA 90015

Bankruptcy Case No.: 11-23274

Chapter 11 Petition Date: March 28, 2011

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

Judge: Richard M. Neiter

Debtor's Counsel: William H. Brownstein, Esq.
                  WILLIAM H. BROWNSTEIN & ASSOCIATES, P.C.
                  1250 Sixth St Ste 205
                  Santa Monica, CA 90401
                  Tel: (310) 458-0048
                  Fax: (310) 576-3581
                  E-mail: Brownsteinlaw.bill@gmail.com

Scheduled Assets: $2,178,250

Scheduled Debts: $7,019,550

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/cacb11-23274.pdf

The petition was signed by Jay No, member.


KEELEY AND GRABANSKI: Bankr. Judge Weighs to Appoint Trustee
------------------------------------------------------------
Mikkel Pates at Agweek reports that the former Keeley & Grabanski
Land Partnership in Texas may see a turning point when a judge in
Fargo, N.D., again considers whether to appoint an operating
trustee to handle the company's affairs.  A hearing on the issue
was scheduled March 30.

According to the report, the partnership -- since 2009 doing
business as Grabanski Land Partnership -- was formed in 2007 for
Texas farming operations between farmers Tom Grabanski and John
Keeley of Grafton, N.D., and their wives.  K&G Land, along with a
separate farming partnership, operated more than 10,000 acres of
corn and sunflowers from 2007 to 2009 in two locations in Texas
near the towns of Blossom and DeKalb.

Former owners of Keeley & Grabanski, John Keeley and his wife,
Dawn, in December forced the Keeley & Grabanski Land Partnership
into a third Chapter 11.  They thought they were out of the
partnership but were a creditor, and were being billed for its
obligations.  Now, they say Grabanski is failing to accept a
reasonable offer to purchase land in Texas that could pay off them
and other creditors.

Agweek relates that, on March 22, Mr. Keeley for a second time
asked U.S. Bankruptcy Judge William Hill for an expedited hearing
to decide whether to appoint an operating trustee so that the land
in Texas can be sold.

Mr. Keeley said that on March 8, a company called U.S. Farming
Realty Trust LP offered to buy 2,300 acres near DeKalb for more
than $3 million and 1,880 acres near Blossom for $4.5 million.  He
says the U.S. Farming Realty had offered $250,000 in earnest money
and will allow G&K to harvest and own the "2011 winter wheat
crop."  In 2007, the partnership paid Eldon Lenth about $2.1
million at 7 percent interest for the land in DeKalb.  They also
leased irrigation equipment from Irrigation Financial Solutions
L.L.C.

John and Dawn Keely filed an involuntary Chapter 11 bankruptcy
petition against Keeley and Grabanski Land Partnership (Bankr. D.
N.D. Case No. 10-31482) on Dec. 6, 2010.  Kenneth Corey-Edstrom,
Esq., at Larkin Hoffman Daly & Lindgren Ltd., represents the
petitioner.  In February, U.S. Bankruptcy Judge William Hill heard
arguments to dismiss an involuntary bankruptcy for the
partnership, but said he will take an unspecified time to decide
on the issue.


KINGS RANCH: Involuntary Chapter 11 Case Summary
------------------------------------------------
Alleged Debtor: Kings Ranch, LLC
                fka Kinjockity Ranch LLC
                c/o Komenda Capital Corporation
                1489 Marine Dr #800
                West Vancouver, BC V7T1B8
                Canada

Bankruptcy Case No.: 11-08080

Involuntary Chapter 11 Petition Date: March 28, 2011

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

Debtor's Counsel: Pro Se

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

Creditors who signed the Chapter 11 petition:

  Petitioners                    Nature of Claim    Claim Amount
  -----------                    ---------------    ------------
Fort Scott Energy                Business Debt      $290,000
5548 Parthenon Place
West Vancouver, BC V7W2V7
Canada

3DS Three Dimensional            Business Debt      $8,500
Services Inc.
2829 Norland Ave.
Burnaby, BC V5B3A9
Canada

Gerinet Counseling               Business Debt      $5,700
14885 58 A Avenue
Surrey, BC V3S0S5
Canada

Webbervision Creative Services   Business Debt      $10,459
415 W Cordova St.
Vancouver, BC V6B1E5
Canada

JBH Professionals                Business Debt      $18,700
6751 Westminister Hwy
Richmond, BC V7C4V4
Canada

Towline Inc.                     Business Debt      $110,000
Suite 800, 1489 Marine Drive
West Vancouver, BC V7T1B8
Canada


KRYSTAL KOACH: Taps El Molino as Estate Representative
------------------------------------------------------
Krystal Koach Inc. seeks permission from the Bankruptcy Court to
appoint El Molino Advisors, Inc. as estate representative.

This is the firm's second engagement with the Debtor.  The firm
was first hired as the Debtor's financial advisors and marketing
consultants.  That previous engagement has ceased.

The Debtor has sold substantially all of its assets to Krystal
Infinity, LLC.  Pursuant to agreements negotiated by the Debtor
with Newco and secured creditors, the Debtor's estate retains
$500,000, which was paid into a trust account held by the Debtor's
counsel.  Now that it has sold substantially all of its assets,
Krystal Koach said it and the official committee of unsecured
creditors must move forward with completing the administration of
the estate's assets now consisting primarily of the $500,000 in
Estate Funds.  In connection with the sale, all of the Debtor's
employees were terminated.  The Debtor's officers and management
are now employed by Newco and are unable to attend to matters
necessary to complete the administration of the estate.

The Debtor has conferred with the counsel to the Committee and the
Debtor's sole shareholder and has determined that it is in the
best interest of the estate that a representative of the estate be
employed and designated to exercise the rights, powers and duties
of the Debtor.

Pursuant to the parties' engagement agreement, El Molino's
Lawrence Perkins will be the principal responsible for the overall
engagement and will be responsible for managing day-to-day
activities.  Mr. Perkins will be assisted by the firm's other
employees as necessary.

The firm's standard hourly rates are:

          Lawrence Perkins            $275
          Vice presidents             $250
          Associates                  $150-200

Fees will be payable upon the effective date of a confirmed
Chapter 11 plan or as otherwise ordered by the Court.

El Molino has not received any retainer from the Debtor.

Mr. Lawrence attests that his firm has no interests adverse to the
Debtor's case.

El Molino has been retained by Newco to act as its financial
advisor.  The firm has advised the Debtor and the Committee that
the firm's services to Newco will not include any involvement in
Newco's obligations to the estate.

                        About Krystal Koach

Orange, California-based Krystal Koach, Inc., dba Krystal
Enterprises, manufactures stretch limousines and customer shuttle
buses in the U.S.  It filed for Chapter 11 bankruptcy protection
on November 19, 2010 (Bankr. C.D. Calif. Case No. 10-26547).
The Debtor estimated its assets and debts at $10 million to
$50 million.

Affiliate Krystal Air, LLC (Bankr. C.D. Calif. Case No. 10-23983)
filed a separate Chapter 11 petition on Nov. 3, 2010.

Krikor J. Meshefejian, Esq. -- kjm@lnbrb.com -- Philip A.
Gasteier, Esq. -- pag@lnbrb.com -- and Ron Bender, Esq. --
rb@lnbrb.com -- at Leven Neale Bender Rankin & Brill LLP,
represent the Debtors.

The Creditors Committee is represented by Nathan A. Schultz, Esq.
-- schultzn@gtlaw.com -- at Greenberg Traurig LLP.

Krystal Koach Inc. was authorized by a bankruptcy
judge on Jan. 7 to sell its business for $9 million to Krystal
Infinity LLC.  There were no competing bids at auction.

According to Bill Rochelle, the bankruptcy columnist for Bloomberg
News, the price includes $6 million cash, the assumption of the
$2.5 million loan financing the Chapter 11 case and $500,000 in
cash to be placed into escrow to complete the liquidation.  The $6
million from the purchase price was to be paid to secured lender
Comerica Bank. Anything remaining from the $500,000 after expenses
of the Chapter 11 case is for distribution to creditors in the
order of priority under bankruptcy law.


KRYSTAL KOACH: Wants Committee to Pursue Avoidance Suits
--------------------------------------------------------
Krystal Koach Inc. asks the Bankruptcy Court to authorize the
official committee of unsecured creditors to pursue certain causes
of action and claims objection.

The Debtor explains that its estate's assets include the $500,000
earmarked from the sale proceeds and potential avoidance actions
and other potential causes of actions not include in the sale.
The Debtor and the Committee believe that substantially all
secured claims were satisfied or assumed by the asset buyer,
Krystal Infinity.  The Debtor said the professional fees  through
the closing of the sale were substantially covered by funds set
aside for that purpose.  Newco also assumed postpetition
obligations incurred in the ordinary course of business.  Thus,
the Debtor said, the unsecured creditors are likely to be the
prime beneficiaries of any funds remaining after payment of future
expenses of administration.

The Debtor and the Committee hope to prepare and file a
liquidating plan as soon as feasible after the claims bar date of
March 15, 2011.

                        About Krystal Koach

Orange, California-based Krystal Koach, Inc., dba Krystal
Enterprises, manufactures stretch limousines and customer shuttle
buses in the U.S.  It filed for Chapter 11 bankruptcy protection
on November 19, 2010 (Bankr. C.D. Calif. Case No. 10-26547).
The Debtor estimated its assets and debts at $10 million to
$50 million.

Affiliate Krystal Air, LLC (Bankr. C.D. Calif. Case No. 10-23983)
filed a separate Chapter 11 petition on Nov. 3, 2010.

Krikor J. Meshefejian, Esq. -- kjm@lnbrb.com -- Philip A.
Gasteier, Esq. -- pag@lnbrb.com -- and Ron Bender, Esq. --
rb@lnbrb.com -- at Leven Neale Bender Rankin & Brill LLP,
represent the Debtors.

The Creditors Committee is represented by Nathan A. Schultz, Esq.
-- schultzn@gtlaw.com -- at Greenberg Traurig LLP.

Krystal Koach Inc. was authorized by a bankruptcy
judge on Jan. 7 to sell its business for $9 million to Krystal
Infinity LLC.  There were no competing bids at auction.

According to Bill Rochelle, the bankruptcy columnist for Bloomberg
News, the price includes $6 million cash, the assumption of the
$2.5 million loan financing the Chapter 11 case and $500,000 in
cash to be placed into escrow to complete the liquidation.  The $6
million from the purchase price was to be paid to secured lender
Comerica Bank. Anything remaining from the $500,000 after expenses
of the Chapter 11 case is for distribution to creditors in the
order of priority under bankruptcy law.


LEHMAN BROTHERS: U.S. Bank, et al., Appeal ADR Approval Order
-------------------------------------------------------------
U.S. Bank National Association and a group of noteholders led by
a certain Siu Lui Ching took an appeal to the U.S. District Court
for the Southern District of New York from a bankruptcy judge's
March 3, 2011 order.

Judge James Peck of the U.S. Bankruptcy Court for the Southern
District of New York issued the order authorizing Lehman Brothers
Holdings Inc. and its affiliated debtors to implement an
alternative dispute resolution process to settle their claims
under derivatives contracts with special purpose vehicles.

As reported in the March 18, 2011 edition of the Troubled Company
Reporter, Lehman Brothers Holdings Inc. and its affiliated debtors
received court approval to implement what they call an alternative
dispute resolution process to settle their claims under
derivatives contracts with special purpose vehicles.

Since their bankruptcy, the Debtors have filed more than 50
lawsuits to recover claims involving more than 200 transactions.
Most of these transactions involve the SPVs, which were
implicated in the lawsuits.

"Although the pending actions are currently stayed, it is the
Debtors' intention to make efforts to consensually resolve most
or all of those disputes before the expiration of the stay," says
Richard Slack, Esq., at Weil Gotshal & Manges LLP, in New York.
He says the derivatives transactions constitute significant
assets of the Debtors' estates.

The lawsuits are stayed until July 20, 2011, pursuant to the
Court's October 20, 2010 order.

The Debtors' derivatives contracts with the SPVs are also subject
to the Court's prior order which authorized the implementation of
a process for resolving claims that also stemmed from derivatives
contracts.  However, the order could not reportedly address the
difficulties faced by the Debtors in finding appropriate
counterparts with whom to discuss the settlement.

"In a majority of the SPV derivatives transactions for which ADR
notices have been served, the Debtors have come to the
negotiating table only to find that there is no one with whom to
negotiate," Mr. Slack says in court papers.

Many of the SPVs have ignored the notices and have remained
unresponsive to discussions with the Debtors, according to the
Lehman lawyer.

One feature of the proposed ADR process to resolve claims against
SPVs is that it requires mandatory participation by the SPVs,
which are involved in the pending lawsuits or will be named as
defendants in future derivatives actions.

Details about the proposed ADR process are contained in the
proposed order, a copy of which is available for free at
http://bankrupt.com/misc/LBHI_SPVADRprocess.pdf

                      About Lehman Brothers

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

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

Additional units, Merit LLC, LB Somerset LLC and LB Preferred
Somerset LLC, sought for bankruptcy protection in December 2009 or
more than a year after LBHI and its other affiliates filed their
bankruptcy cases.

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

Dennis F. Dunne, Esq., Evan Fleck, Esq., and Dennis O'Donnell,
Esq., at Milbank, Tweed, Hadley & McCloy LLP, in New York, serve
as counsel to the Official Committee of Unsecured Creditors.
Houlihan Lokey Howard & Zukin Capital, Inc., is the Committee's
investment banker.

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

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

                 International Operations Collapse

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

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

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


LEHMAN BROTHERS: To Seek Partner on Real Estate Devt. Projects
--------------------------------------------------------------
Lehman Brothers Holdings Inc. sent requests to at least six
homebuilders and developers seeking partners for 75 real estate
projects in 19 states, according to a March 15, 2011 report by
Bloomberg News.

The requests, which came from Lehman's restructuring firm,
Alvarez & Marsal Inc., did not detail the property portfolio, the
report said, citing executives at three companies who reviewed
the solicitations as its source.

The six companies which received the proposals are Homebuilders
PulteGroup Inc., Standard Pacific Corp. (SPF), Toll Brothers Inc.
(TOL), DMB Associates Inc., FivePoint Communities Inc. and
Newland Communities.  These companies develop master-planned
communities.

Chief Executive Officer Bryan Marsal said in December that Lehman
is seeking to bring "strategic projects involving some very high-
quality assets" to market this year as property values rise.

Richard Gollis, principal at Concord Group, a California-based
real estate advisory firm, said the Lehman portfolio has been on
the radar screen of the real estate community since late 2008.

"In our view, it will only move forward with long-term capital
combined with specific operational expertise in entitlement and
development," Bloomberg News quoted Mr. Gollis as saying.

Tony Avila, CEO of Avila Advisors, a San Francisco-based
homebuilding consulting firm, said Lehman's holdings include
residential and master-planned communities valued at about $2
billion, Bloomberg News reported.

Lehman's biggest real estate asset is apartment-complex owner
Archstone, which completed a restructuring last year.  It was
acquired by a Lehman-led group for $22 billion in 2007.

CEO Scot Sellers said in November that Archstone may go public
again, according to Bloomberg News.

Other Lehman real estate like the properties claimed by
California-based developer, SunCal Cos., remain tangled in
bankruptcy court disputes.

                      About Lehman Brothers

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

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

Additional units, Merit LLC, LB Somerset LLC and LB Preferred
Somerset LLC, sought for bankruptcy protection in December 2009 or
more than a year after LBHI and its other affiliates filed their
bankruptcy cases.

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

Dennis F. Dunne, Esq., Evan Fleck, Esq., and Dennis O'Donnell,
Esq., at Milbank, Tweed, Hadley & McCloy LLP, in New York, serve
as counsel to the Official Committee of Unsecured Creditors.
Houlihan Lokey Howard & Zukin Capital, Inc., is the Committee's
investment banker.

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

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

                 International Operations Collapse

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

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

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


LEHMAN BROTHERS: Defends Bankruptcy Plan for 3 Calif. Devts.
------------------------------------------------------------
Lehman Brothers Holdings Inc. is defending a bankruptcy trustee's
plan to bring a handful of stalled Southern California real-
estate projects out of Chapter 11 against creditors' claims that
the plan benefits Lehman at their expense, Patrick Fitzgerald of
Dow Jones Daily Bankruptcy Review reported.

According to papers filed with the bankruptcy court in Santa Ana,
California, Lehman is defending the plan against claims from a
unit of Gramercy Capital Corp. that the plan improperly "gifts"
trade creditors at the expense of higher-ranking junior-lien
lenders, the report said.  Lehman says Gramercy, the agent for a
group of second-lien lenders, "misconstrues" the plan as a
"gifting plan," the report related.

Lehman noted that bankruptcy judges in some jurisdictions, but
not the Ninth Circuit where Santa Ana is located, have barred
similar plans as violating the Bankruptcy Code's absolute-
priority rule, according to the report.  In any event, Lehman
says the distributions under the plan don't violate the rule, a
cornerstone of U.S. bankruptcy law, since they conform with the
terms of an intercreditor agreement and will be made pursuant to
a pre-plan settlement previously approved by Bankruptcy Judge
Erithe Smith, the report said.  That settlement, the report
noted, forms the backbone of the trustee's plan to bring the
projects out of bankruptcy.

The key component of the plan is a compromise between Alfred H.
Siegel, the Chapter 11 trustee overseeing the real-estate
projects, and Lehman's commercial-paper unit that calls for the
trustee to sell the properties through a Chapter 11 plan. Lehman
and other first-lien lenders, owed $230 million, will have the
right to bid their debt in order to acquire the land -- a process
known as credit bidding, the report said.

Under the settlement, the Lehman-led lenders can credit bid up to
$70 million. The initial bid will be $45 million, according to
court papers.

A hearing on the exit plan is slated for next month, the report
said.

At issue are several stalled real-estate projects covering more
than 5,000 acres in Southern California. The properties include
McAllister Ranch, a 2,070-acre planned residential community near
Bakersfield; and McSweeny Farms and SummerWind Ranch, a pair of
developments in Riverside County.

The three properties in question are separate from two other
bankruptcy cases involving SunCal-related projects. These
properties were drawn into Chapter 11 when a lender filed an
involuntary bankruptcy petition against the projects in September
2008, days before Lehman filed for bankruptcy, according to the
report.

Mr. Siegel has sued the junior lenders to the projects, including
Gramercy as the agent for the projects' second-lien lenders, and
Square Mile Structured Debt LLC, the agent for the third-lien
lenders, saying their loans made the unfinished subdivisions
insolvent.  If successful, that move would virtually ensure that
the lenders those agents represent wouldn't see any recovery from
the three developments' bankruptcy cases, the report said.

In 2006, Lehman, along with other senior lenders, lent the SunCal
projects at issue more than $300 million, with $144 million of
that amount going to the projects' owners as a dividend, Dow
Jones noted.

                      About Lehman Brothers

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

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

Additional units, Merit LLC, LB Somerset LLC and LB Preferred
Somerset LLC, sought for bankruptcy protection in December 2009 or
more than a year after LBHI and its other affiliates filed their
bankruptcy cases.

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

Dennis F. Dunne, Esq., Evan Fleck, Esq., and Dennis O'Donnell,
Esq., at Milbank, Tweed, Hadley & McCloy LLP, in New York, serve
as counsel to the Official Committee of Unsecured Creditors.
Houlihan Lokey Howard & Zukin Capital, Inc., is the Committee's
investment banker.

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

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

                 International Operations Collapse

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

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

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


LEHMAN BROTHERS: Lehman, Five Mile to Make 1st Bid for Innkeepers
-----------------------------------------------------------------
The bankruptcy judge overseeing the bankruptcy case of Innkeepers
USA Trust allowed the real estate investment trust to hold an
auction where the first bid to acquire all but seven of the 72
properties will be made by Lehman Ali Inc. and Five Mile
Capital Partners LLC, Bill Rochelle at Bloomberg News reported.

Competing bids, according to the report, are due by April 25, in
advance of the auction on May 2.  A competing bid must have an
equity component of at least $356.2 million, the report noted.

Early in the case, the bankruptcy judge refused to approve a
proposal where equity in reorganized Innkeepers would have been
shared by Lehman and Apollo Investment Corp., Innkeepers' current
owner, the report related.  The original plan was opposed by the
trustee for holders of $825 million in secured debt against 45
hotels.

                      About Lehman Brothers

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

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

Additional units, Merit LLC, LB Somerset LLC and LB Preferred
Somerset LLC, sought for bankruptcy protection in December 2009 or
more than a year after LBHI and its other affiliates filed their
bankruptcy cases.

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

Dennis F. Dunne, Esq., Evan Fleck, Esq., and Dennis O'Donnell,
Esq., at Milbank, Tweed, Hadley & McCloy LLP, in New York, serve
as counsel to the Official Committee of Unsecured Creditors.
Houlihan Lokey Howard & Zukin Capital, Inc., is the Committee's
investment banker.

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

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

                 International Operations Collapse

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

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

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


LOCAL INSIGHT: Wins Extension of Chapter 11 Exclusivity
-------------------------------------------------------
Bankruptcy Law360 reports that Judge Kevin Gross of the U.S.
Bankruptcy Court for the District of Delaware on Tuesday extended
Local Insight Media Holdings Inc.'s exclusive right to file a
reorganization plan for 90 days, over the objections of unsecured
creditors who said the Yellow Pages publisher was marginalizing
their participation in the case.

As reported in the March 16, 2011 edition of the Troubled Company
Reporter, Local Insight Media filed with the U.S. Bankruptcy Court
a motion seeking to extend the exclusive period to file a Chapter
11 Plan and solicit acceptances thereof through and including July
15, 2011 and Sept. 13, 2011, respectively.

                 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.  Local Insight, along with affiliates, including
Local Insight Regatta Holdings, Inc., filed for Chapter 11
bankruptcy protection on (Bankr. D. Del. Lead Case No. 10-13677)
on Nov. 17, 2010.

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
Sept. 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.


LYONDELL CHEMICAL: Highland Suit vs. UBS Moved to Bankr. Court
--------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Highland Capital Management LP survived a motion to
dismiss the lawsuit it filed against USB Securities LLC in July
for being left out of a syndicate providing exit financing when
Lyondell Chemical Co. implemented its Chapter 11 reorganization
plan last April.

According to Mr. Rochelle, while U.S. Bankruptcy Judge Robert
Gerber concluded in his March 28 opinion that the confirmed plan
didn't bar the lawsuit against UBS, he said litigation must take
place in bankruptcy court in Manhattan, not in New York state
court, as the result of plan provisions calling for the exclusive
retention of jurisdiction.

Judge Gerber, the report relates, did dismiss Dallas-based
Highland's suit against Lyondell.  The judge concluded that the
event giving rise to a claim took place before the plan was
confirmed.  Consequently, Highland's failure to file a claim by
the administrative bar date blocked the later suit against the
company.

Mr. Rochelle relates that, as to UBS, the lenders' agent, Gerber
said that the plan confirmation order found that the lender acted
in good faith with regard to the plan and the rights offering.  It
was silent about UBS's role in the exit financing.  Therefore, the
plan didn't provide, one way or the other, whether there was an
exculpation for UBS's participation in the financing.

Judge Gerber said he was taking no position about the merits of
the suit against UBS.

In the state-court suit, Highland contended it had a commitment
from Lyondell that it would be allowed to provide $150 million of
the financing.  It claimed UBS "refused to allocate any part of
the term loan to Highland" and did so "to further its personal,
unrelated dispute with Highland."

                      About Lyondell Chemical

LyondellBasell Industries is one of the world's largest polymers,
petrochemicals and fuels companies.  Luxembourg-based Basell AF
and Lyondell Chemical Company merged operations in 2007 to form
LyondellBasell Industries, the world's third largest independent
chemical company.  LyondellBasell became saddled with debt as part
of the USUS$12.7 billion merger. Len Blavatnik's Access Industries
owned the Company prior to its bankruptcy filing.

On Jan. 6, 2009, LyondellBasell Industries' U.S. operations,
led by Lyondell Chemical Co., and one of its European holding
companies -- Basell Germany Holdings GmbH -- filed voluntary
petitions to reorganize under Chapter 11 of the U.S. Bankruptcy
Code to facilitate a restructuring of the company's debts.  The
case is In re Lyondell Chemical Company, et al., Bankr. S.D.N.Y.
Lead Case No. 09-10023).  Seventy-nine Lyondell entities filed for
Chapter 11. Luxembourg-based LyondellBasell Industries AF S.C.A.
and another affiliate were voluntarily added to Lyondell
Chemical's reorganization filing under Chapter 11 protection on
April 24, 2009.

Deryck A. Palmer, Esq., at Cadwalader, Wickersham & Taft LLP, in
New York, served as the Debtors' bankruptcy counsel.  Evercore
Partners served as financial advisors, and Alix Partners and its
subsidiary AP Services LLC, served as restructuring advisors.
AlixPartners' Kevin M. McShea acted as the Debtors' Chief
Restructuring Officer.  Clifford Chance LLP served as
restructuring advisors to the European entities.

LyondellBasell emerged from Chapter 11 bankruptcy protection in
May 2010, with a plan that provides the Company with US$3 billion
of opening liquidity.  A new parent company, LyondellBasell
Industries N.V., incorporated in the Netherlands, is the successor
of the former parent company, LyondellBasell Industries AF S.C.A.,
a Luxembourg company that is no longer part of LyondellBasell.
LyondellBasell Industries N.V. owns and operates substantially the
same businesses as the previous parent company, including
subsidiaries that were not involved in the bankruptcy cases.
LyondellBasell's corporate seat is Rotterdam, Netherlands, with
administrative offices in Houston and Rotterdam.


MA BB OWEN: Paid $27,248 to Affiliate a Year Before Bankruptcy
--------------------------------------------------------------
MA-BB Owen, LP, disclosed in papers filed with the Bankruptcy
Court that it made payments totaling $27,248 to a related non-
debtor company, Marlin Atlantis White, Ltd., during the one year
preference period immediately preceding the commencement of the
Chapter 11 case.  The payments were:

          * $25,000 on April 1, 2010
          * $25,000 on June 4, 2010
          * $1,851 on July 19, 2010
          * $74.33 on July 19, 2010
          * $322.50 on September 23, 2010

MA-BB Owen is seeking to employ as bankruptcy counsel:

           Joyce W. Lindauer, Esq.
           Jonathan Gitlin, Esq.
           Attorneys at Law
           8140 Walnut Hill Lane, Suite 301
           Dallas, Texas 75231
           Tel: (972) 503-4033
           Fax: (972) 503-4034

The Debtor said Ms. Lindauer has been paid a $7,289 retainer,
which includes $1,039 for the filing fee in connection with these
proceedings.  The retainer was paid by Marlin Atlantis.

The compensation to be paid to Ms. Lindauer will be $295 per hour,
and Mr. Gitlin $150 per hour; and paralegals and legal assistants,
$50-75 per hour.

Ms. Lindauer is a solo practitioner practicing primarily
bankruptcy law.  Mr. Gitlin is an associate attorney working for
Ms. Lindauer.

Ms. Lindauer and Mr. Gitlin both attest that they do not presently
hold or represent any interest adverse to the interest of the
Debtor or this estate, and are disinterested within the meaning of
11 U.S.C. Sec. 101(14).

Dallas, Texas-based MA BB Owen LP filed for Chapter 11 bankruptcy
protection (Bankr. E.D. Tex. Case No. 11-40645) on Feb. 28, 2011.
Joyce W. Lindauer, Esq., at Joyce Lindauer, Attorney At Law,
serves as the Debtor's bankruptcy counsel.  The Debtor estimated
its assets at $10 million to $50 million.

The U.S. Trustee for Region 6 will convene a meeting of MA BB Owen
LP's creditors on April 1, 2011, at 11:30 a.m.  The meeting will
be held at 2000 E. Spring Creek Parkway, in Plano, Texas.


MAD CORP: Files for Chapter 11 for 2nd Time This Year
-----------------------------------------------------
Vanessa Czarnecki at Patch.com's Martha's Vineyard news reports
that MAD Corp. LLC, parent company of the Oyster Bar Grill
restaurant in Oak Bluffs, has filed for Chapter 11 bankruptcy
protection for the second time in just more than two months.

MAD Corp., LLC, sought Chapter 11 protection (Bankr. D. Mass. Case
No. 11-12557) on March 28, 2011, estimating $1 million to $10
million in assets and debts.  T. George Davis, Jr., in Vineyard
Haven, Massachusetts, serves as counsel to the Debtor.

According to the Patch, court records indicated that the Company
owes payment to 17 creditors, including the Edgartown National
Bank, the Internal Revenue Service and the Town of Oak Bluffs.
Edgartown National Bank is owed more than $700,000.

MAD Corp. previously filed for Chapter 11 bankruptcy protection
(Bank. D. Mass. Case No. 11-10277) on Jan. 14, 2011.  According to
Patch, the filing stayed the Jan. 14 auction for the restaurant
building and all of its furniture and fixtures.  The Debtor
estimated $500,001 to $1,000,000 in assets and $1,000,001 to
$10,000,000 in liabilities as of the Chapter 11 filing.


MAD CORP: Voluntary Chapter 11 Case Summary
-------------------------------------------
Debtor: MAD Corp., LLC
        dba Oyster Bar Grill Restaurant
        57 Circuit Avenue
        Oak Bluffs, MA 02557

Bankruptcy Case No.: 11-12557

Chapter 11 Petition Date: March 28, 2011

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

Judge: William C. Hillman

Debtor's Counsel: T. George Davis, Jr.
                  LAW OFFICE OF T. GEORGE DAVIS, JR.
                  4A Causeway Road P.O Box 1150
                  Vineyard Haven, MA 02568
                  Tel: (508) 693-8820

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 Michael D. Gillespie, manager.


MEDICAL STAFFING: Wins Approval of Liquidating Chapter 11 Plan
--------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Medical Staffing Network Holdings Inc. won
confirmation of a liquidating Chapter 11 plan that sets aside
$250,000 for unsecured creditors.  Neither the first-lien nor
second-lien lenders are to receive any of the $250,000 carve-out
on account of their deficiency claims.  There were no formal
objections to confirmation.

Mr. Rochelle recounts that the first-lien lenders acquired the
Debtor's business in exchange for $84.1 million of the $98.8
million they were owed.  The purchase price also included an
exchange for the $15 million in financing they provided for the
Chapter 11 case.  Holders of 90% of the $26.8 million in second-
lien debt consented to the sale.

                      About Medical Staffing

Boca Raton, Florida-based Medical Staffing Network Holdings, Inc.,
provides temporary (predominantly healthcare) staffing services
including per diem, short term contracts and travel, in the United
States.  Warburg Pincus Private Equity VIII, L.P., owns a 45.4%
stake in the Company.  The Company and its affiliates filed for
Chapter 11 bankruptcy protection on July 2, 2010 (Bankr. S.D. Fla.
Lead Case No. 10-29101).  Medical Staffing estimated $100 million
to $500 million in assets and debts.  An affiliate of Medical
Staffing scheduled total assets of $53,293,726 and total
liabilities of $129,862,111.

Paul Steven Singerman, Esq., and Jordi Guso, Esq., at Berger
Singerman, P.A., in Miami serve as the Debtors' bankruptcy
counsel.  Akerman Senterfitt is the Debtors' special corporate and
transactional counsel.  Loughlin Meghji + Company is the corporate
restructuring advisor.  Ernst & Young LLP is the accounting and
tax advisor.  The Garden City Group Inc. is the claims and notice
agent.


MERIDIAN MORTGAGE: Trustee's Plan Projects At Least 15% Recovery
----------------------------------------------------------------
Rami Grunbaum at the Seattle Times reports that investors in the
collapsed Meridian Mortgage funds could recoup 15% to 25% of
the money originally paid into what prosecutors have called
the largest Ponzi scheme in state history under a reorganization
plan filed by the court-appointed bankruptcy trustee, Mark
Calvert.

According to the report, the current amount recovered for
creditors is $19.7 million, but the total eventually could reach
$31 million.  Investors in three Meridian funds filed in July to
force them into bankruptcy protection, and soon a total of 11 were
in Chapter 11 protection under Calvert's authority.

The trustee's filing said Frederick Darren Berg, founder of The
Meridian Group, diverted as much as $85 million to his personal
use, including $45 million channeled into the luxury bus company
he established, MTR Western.  Another $10 million was poured into
a home-building company, Meridian Greenfield, according to the
trustee.  Approximately $50 million of the money invested was used
to pay other investors, to perpetuate the alleged Ponzi scheme,
the trustee's said.  And many investors plowed their supposed
profits back into the Meridian funds.  All those phony profits are
not counted as claims in the bankruptcy case and will not be
repaid.

Mr. Grunbaum relates that the bankruptcy plan also shows the
trustee hopes to "claw back" about $3 million that certain
investors received from Meridian after Mr. Berg warned in August
2009 that the funds didn't have sufficient cash to allow
withdrawals.

                     About Meridian Mortgage

In November 2010, a federal grand jury in Seattle has indicted
Frederick Darren Berg on 12 counts of wire fraud, money laundering
and bankruptcy fraud in connection with the demise of his Meridian
Group of investment funds.  Prosecutors believe Mr. Berg took in
more than $280 million, with the losses attributed to the ponzi
scheme estimated to be approximately $100 million.  Hundreds of
victims have lost money in the scheme between 2001 and 2010.

Mr. Berg commenced a personal Chapter 11 case on July 27, 2010
(Bankr. W.D. Wash. Case No. 10-18668), estimating assets of
more than $10 million and liabilities between $1 million and
$10 million.  The filing came after lawyers for one group of
investors, armed with a court order and accompanied by sheriff's
deputies, began seizing personal possessions at Mr. Berg's Mercer
Island home and downtown Seattle condo.

Diana K. Carey, trustee for F. Darren Berg's estate, filed on
Jan. 27, 2011 voluntary Chapter 11 petitions for Mortgage
Investors Fund I LLC (Bankr. W.D. Wash. Case No. 11-10830)
estimating assets of up to $50,000 and debts of up to $50,000,000,
and Meridian Mortgage Investors Fund III LLC (Case No. 11-10833),
estimating up to $50,000 in assets and up to $100,000,000 in
liabilities.  Michael J. Gearin, Esq., at K&L Gates LLP, in
Seattle, serves as counsel to the Debtors.

Creditors filed an involuntary Chapter 11 petition for Meridian
Mortgage Investors Fund II LLC (Bankr. W.D. Wash. Case No. 10-
17976) on July 9, 2010.  The petitioners are represented by Jane
E. Pearson, Esq., at Foster Pepper PLLC, in Seattle.

Creditors filed involuntary Chapter 11 petitions for Meridian
Mortgage Investors Fund VIII, LLC (Bankr. W.D. Was. Case No. 10-
17958) and Meridian Mortgage Investors Fund V, LLC (Bankr. W.D.
Wash. Case No. 10-17952) on July 9, 2010.  The petitioners are
represented by John T. Mellen, Esq., at Keller Rohrback LLP, in
Seattle, and Cynthia A. Kuno, Esq., at Hanson Baker Ludlow
Drumheller PS, in Bellevue, represent the petitioners.


MIG 193: Case Summary & 2 Largest Unsecured Creditors
-----------------------------------------------------
Debtor: MIG 193, LLC
        1410 Commonwealth Drive, Suite 205
        Wilmington, NC 28403

Bankruptcy Case No.: 11-02358

Chapter 11 Petition Date: March 28, 2011

Court: United States Bankruptcy Court
       Eastern District of North Carolina (Wilson)

Judge: J. Rich Leonard

Debtor's Counsel: Samuel B. Potter, Esq.
                  LAW OFFICE OF ALAN E. TOLL
                  1410 Commonwealth Dr., Ste. 205
                  Wilmington, NC 28403
                  Tel: (910) 256-8161
                  Fax: (910) 256-8163
                  E-mail: potter.samuel@gmail.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/nceb11-02358.pdf

The petition was signed by Goeffrey S. Hanson.


NETBANK INC: Former Execs. Seek Ruling on Investors' Hedge Claims
-----------------------------------------------------------------
Bankruptcy Law360 reports that former NetBank Inc. executives and
directors asked a Georgia federal court for judgment Friday on
class allegations that they improperly used hedge accounting to
mislead investors about the online bank's health before its
takeover by federal regulators and subsequent liquidation.

                         About NetBank Inc.

Headquartered in Jacksonville, Florida, NetBank Inc. --
http://www.netbank.com/-- is a financial holding company of
Netbank, the United States' oldest Internet bank serving retail
and business customers in all 50 states.  NetBank Inc. did
retail banking, mortgage banking, business finance, and provided
ATM and merchant processing services.

The Company filed for chapter 11 protection (Bankr. M.D. Fla. Case
No. 07-04295) on Sept. 28, 2007.  Alan M. Weiss, Esq., at
Holland & Knight LLP, represents the Debtor.  Rogers
Towers, Esq. at Kilpatrick Stockton LLP, represents the Official
Committee of Unsecured Creditors.

Clifford Zucker serves as the Liquidating Supervisor for NetBank
under the terms of a Second Amended Liquidating Plan confirmed in
Sept. 2008, and is represented by Michael D. Langford, Esq., and
Shane G. Ramsey, Esq., at Kilpatrick Stockton LLP in Atlanta, Ga.

As of Sept. 25, 2007, the Debtor reported total assets of
$87,213,942 and total debts of $42,245,857.  As of August 31,
2008, NetBank, Inc., had total assets of $13,807,207 and total
liabilities of $34,607,868.


MIKE V REAL ESTATE: U.S. Trustee Unable to Form Creditors Panel
---------------------------------------------------------------
The United States Trustee has advised the Bankruptcy Court that it
has not been able to appoint an official committee of unsecured
creditors in the bankruptcy case of Mike V. Real Estate, LLC.

"Based on information supplied by the Debtor, there are an
insufficient number of eligible unsecured creditors within the
meaning of 11 U.S.C. Sec. 1102 to form a committee," Tiffany L.
Carroll, the acting U.S. Trustee, said.

Mike V. Real Estate, LLC, in La Jolla, California, filed for
Chapter 11 bankruptcy (Bankr. S.D. Calif. Case No. 11-01165) on
Jan. 26, 2011, Judge Margaret M. Mann presiding.  Craig E. Dwyer,
Esq. -- craigedwyer@aol.com -- in San Diego, California, serves as
bankruptcy counsel.  In its schedules, the Debtor disclosed
$55,000,000 in assets and $51,335,000 in liabilities as of the
petition date.


NEW STREAM: Objectors Seek Standing and Discovery
-------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that whether the prepackaged reorganization of New Stream
Capital LLC is a walk in the park or a dogfight could be decided
by the outcome of a motion filed March 21 by creditors with more
than $90 million invested in New Stream's U.S. and Cayman Islands
funds.

According to the report, the motion seeks a declaration that the
investors have the right to object to New Stream's proposed
Chapter 11 plan.  If the bankruptcy judge in Delaware decides the
investor's don't have standing to object, New Stream's plan could
go through almost without opposition.

The investors, who aren't directly creditors of the companies in
Chapter 11, want the judge to give assurance they have the right
to oppose New Stream's proposed reorganization.  New Stream
characterizes itself as a fund manager specializing in "non-traded
private debt."  The creditors, who filed involuntary Chapter 11
petitions against three other New Stream funds, say they have
standing because they have so-called tort claims against the New
Stream master fund and investment manager.  The claims, they say,
are based on New Stream's "fraudulent and incompetent management"
of the U.S. and Cayman funds.  The creditors also want the
bankruptcy judge to allow them expedited discovery so they can
prepare for the April 25 confirmation hearing where New Stream
will seek approval of the plan.

According to Mr. Rochelle, New Stream says the plan was accepted
before the Chapter 11 filing earlier this month by the required
majorities of creditors in three voting classes. The objecting
investors are indirect creditors in the class which includes
McKinsey & Co. Inc., a supporter of the plan.  New York-based
consultant McKinsey is under contract to buy New Stream's
portfolio of insurance policies for $127.5 million. The objecting
investors say the price is inadequate.  The contend they were
"duped" into investing on the promise they would be treated the
same as investors in the New Stream's Bermuda fund.  Instead of
being treated the same, the objecting investors say they are being
offered a "pittance" under the reorganization plan.

                            Break-Up Fee

Mr. Rochelle relates that New Stream Capital LLC is seeking to pay
a 3% breakup fee to an affiliate of McKinsey & Co. Inc., the
consulting firm that's under contract to buy the portfolio of life
insurance policies for $127.5 million.  New Stream intends on
selling the portfolio to New York-based McKinsey as part of the
prepackaged Chapter 11 plan that was accepted by three classes of
creditors before the Chapter 11 filing on March 13.  New Stream
says it knows of no authority requiring an auction when the sale
is pursuant to a plan.  The motion for approval of the breakup
fee, scheduled for hearing on April 8 in U.S. Bankruptcy Court in
Delaware, says that an affiliate of McKinsey is an investor in New
Stream U.S. and Cayman Islands funds.

                          About New Stream

New Stream is an inter-related group of companies that
collectively comprise an investment fund, headquartered in
Ridgefield, Connecticut.  Founded in 2002, New Stream focuses on
providing non-traded private debt to the insurance, real estate
and commercial finance sectors.

New Stream Secured Capital, Inc., and three affiliates (New Stream
Insurance, LLC, New Stream Capital, LLC, and New Stream Secured
Capital, L.P.) filed Chapter 11 petitions (Bankr. D. Del. Lead
Case No. 11-10753) on March 13, 2011, with a proposed prepackaged
Chapter 11 plan.

Kurt F. Gwynne, Esq., J. Cory Falgowski, Esq., Michael J.
Venditto, Esq., and Scott M Esterbrook, Esq., at Reed Smith LLP,
serve as the Debtors' bankruptcy counsel.  Kurtzman Carson
Consultants LLC is the Debtors' claims and notice agent.

NSSC, Inc., estimated its assets and debts at up to $50,000.  NSC
estimated its assets at $100,000 to $500,000 and debts at $50,000
to $100,000.  NSI estimated its assets at $100 million to
$500 million and debts at $50 million to $100 million.  NSSC, LP,
estimated its assets and debts at $500 million to $1 billion.

NSI's insurance portfolio is being sold for $184.35 million as
part of the Chapter 11 plan.  The aggregate indebtedness secured
by the investment portfolio of NSSC is $688,412,974.  NSI owes
$81,573,376 to certain account classes under a Bermuda fund.

On March 7, 2011, when New Stream was still soliciting votes on
the Chapter 11 plan, certain investors filed a petition (Bankr. D.
Del. Lead Case No. 11-10690) seeking to force three new stream
funds -- New Stream Secured Capital Fund (U.S.) LLC, New Stream
Secured Capital Fund P1 (Cayman), Ltd. and New Stream Secured
Capital Fund K1 (Cayman), Ltd. -- to Chapter 11 bankruptcy.

The petitioning investors in the New Stream investment enterprise
say they are collectively owed over $90 million, representing
roughly 28% of the approximately $320 million owed to all U.S. and
Cayman investors.

The Petitioners are represented by (i) Joseph H. Huston, Jr.,
Esq., Maria Aprile Sawczuk, Esq., Meghan A. Cashman, Esq., at
Stevens & Lee, P.C., in Wilmington, Delaware, and Beth Stern
Fleming, Esq., at Stevens & Lee, P.C., in Philadelphia,
Pennsylvania, and Nicholas F. Kajon, Esq., David M. Green, Esq.,
and Constantine Pourakis, Esq., at Stevens & Lee, P.C., in New
York, (ii) Edward Toptani, Esq., at Toptani Law Offices, in New
York, and (iii) John M Bradham, Esq., and David Hartheimer, Esq.,
at Mazzeo Song & Bradham LLP, in New York.


NORTH AMERICAN: Has Until July 31 to File Chapter 11 Plan
---------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware extended
the exclusive periods of North American Petroleum Corporation USA
and its debtor-affiliates to file a Chapter 11 plan until July 31,
2011, and solicit acceptances of that plan until Sept. 30, 2011.

The Debtors requested for additional time to continue their
discussions regarding exit alternatives and work with their major
constituents to formulate a restructuring plan, sale, or other
transaction in an orderly manner.

According to the Debtors, the premature filing of competing, non-
confirmable plans would create distraction and unnecessary costs
for the estates and, as a consequence, stall the significant
progress achieved to date and delay the Debtors' emergence from
bankruptcy.

Compass Bank and Texas Capital Bank N.A. objected to the Debtors'
request for extension, saying it's excessive in terms of proposed
length and without cause.

                 About North American Petroleum

Denver, Colorado-based North American Petroleum Corp. USA is a
natural gas driller.  North American Petroleum and Prize Petroleum
are subsidiaries of Petroflow Energy Ltd.  North American
Petroleum sought Chapter 11 protection (Bankr. D. Del. Case No.
10-11707) on May 25, 2010.  In its schedules, North American
Petroleum disclosed $140,678,983 in total assets and $125,595,183
in total liabilities as of the Petition Date.

The Debtor's affiliate, Prize Petroleum LLC, filed a separate
Chapter 11 petition on May 25, 2010 (Case No. 10-11708).  Prize
Petroleum scheduled $121,945,092 in liabilities.

These cases are being jointly administered for procedural
purposes, under the case docket for North American Petroleum
Corporation USA, Case No. 10-11707.

On Aug. 20, 2010, Petroflow Energy Ltd., the parent company of
North American Petroleum Corporation USA and Prize Petroleum, LLC,
filed a petition in the U.S. Bankruptcy Court for the District of
Delaware seeking relief under Chapter 11 of the Bankruptcy Code
(Case No. 10-12608).  On Sept. 10, 2010, the Bankruptcy Court
granted permission for Petroflow's Chapter 11 case to be jointly
administered with those of its two Chapter 11 debtor-affiliates.
On September 17, 2010, Petroflow received recognition of the U.S.
Chapter 11 proceedings from the Alberta Court of Queen's Bench
under the Companies' Creditors Arrangement Act in Canada.  In its
petition, Petroflow disclosed assets and debts of between
$100 million and $500 million each.

David R. Seligman, Esq., Ryan Blaine Bennett, Esq., and Paul
Wierbicki, Esq., at Kirkland & Ellis LLP, in Chicago, serve as
lead bankruptcy counsel.  Domenic E. Pacitti, Esq., at Klehr
Harrison Harvey Branzburg LLP in Wilmington, Del., and Morton R.
Branzburg, Esq., at Klehr Harrison Harvey Branzburg LLP, in
Philadephia, Pa., serve as the Debtors' co-counsel.  Kinetic
Advisors LLC is the Debtors' financial advisor.  Epiq Bankruptcy
Solutions, LLC, is the Debtors' notice, claims and balloting
agent.


NORTHWEST OIL: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Northwest Oil Company, Inc.
        P.O. Box 310
        Fayetteville, AR 72702

Bankruptcy Case No.: 11-71431

Chapter 11 Petition Date: March 28, 2011

Court: United States Bankruptcy Court
       Western District of Arkansas (Fayetteville)

Judge: Ben T. Barry

Debtor's Counsel: Jill R. Jacoway, Esq.
                  JACOWAY LAW FIRM
                  P.O. Drawer 3456
                  Fayetteville, AR 72702-3456
                  Tel: (479)521-2621
                  E-mail: jacowaylaw@sbcglobal.net

Estimated Assets: $0 to $50,000

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/arwb11-71431.pdf

The petition was signed by Fredrick Lee Robertson, president.


NOVADEL PHARMA: Incurs $2.66 Million Net Loss in 2010
-----------------------------------------------------
Novadel Pharma Inc. filed with the U.S. Securities and Exchange
Commission its annual report on Form 10-K reporting a net loss of
$2.66 million on $2.83 million of total revenue for the year ended
Dec. 31, 2010, compared with a net loss of $7.58 million on
$422,000 of total revenue during the prior year.

The Company's balance sheet at Dec. 31, 2010 showed $2.22 million
in total assets, $8.06 million in total liabilities and
$5.84 million in total stockholders' deficiency.

"Our 2010 results represent an improvement over the prior year
results.  We ended 2010 with a modest amount of cash, however this
amount was buttressed in the first quarter of 2011 by a milestone
payment from a licensee, a grant from the U.S. government, and a
capital raise.  In addition, our licensees launched our
NitroMist(R) and ZolpimistTM products in early 2011.  We believe
NitroMist and Zolpimist will be well accepted in the marketplace,
and we anticipate the initiation of royalty revenue in 2011"
remarked Steven B. Ratoff, our Chairman and CEO.  "We believe our
efforts provide a foundation for the further development of our
product pipeline and we will continue to progress the development
of Duromist as well as control our costs during 2011."

J.H. Cohn LLP, in Roseland, New Jersey, raised substantial doubt
about the Company's ability to continue as a going concern.  The
accountants noted that the Company has suffered recurring losses
from operations and negative cash flows from operating activities.
Continued operations are dependent on the Company's ability to
complete equity or debt formation activities or to generate
profitable operations.

A full-text copy of the annual report on Form 10-K is available
for free at http://is.gd/Ww5LJE

                       About NovaDel Pharma

Bridgewater, N.J.-based NovaDel Pharma Inc. (OTC BB: NVDL)
-- http://www.novadel.com/-- is a specialty pharmaceutical
company developing oral spray formulations for a broad range of
marketed pharmaceuticals.

The Company's balance sheet at Sept. 30, 2010, showed
$2.06 million in total assets, $9.10 million in total liabilities,
and a stockholders' deficit of $7.04 million.

As reported in the Troubled Company Reporter on April 6, 2010,
J.H. Cohn LLP, in Roseland, N.J., expressed substantial doubt
about the Company's ability to continue as a going concern
following the Company's 2009 results.  The independent auditors
noted of the Company's recurring losses from operations and
negative cash flows from operating activities.


OREGON COAST: Faces Threat of Chapter 11 Bankruptcy
---------------------------------------------------
Rich Saskal at the Bond Buyer reports that Oregon Coast
Aquarium bondholders is again struggling with its debt service
requirements.  Trustee U.S. Bank NA issued a notice of default in
December after the aquarium failed to make the full scheduled
monthly payment to the debt service fund for its $12.965 million
of revenue bonds issued in 2005 using the Oregon Facilities
Authority as a conduit.

According to the report, Rick Goulette, the aquarium's chief
financial officer, said that in the wake of poor attendance in the
summer of 2010, the organization is regrouping financially, taking
actions that include a 12-month holiday on debt service payments
that apply to principal.  "We continue to pay interest on the
bonds, so bondholders are not out anything," Mr. Saskal quotes Mr.
Goulette as saying.

Mr. Saskal notes the aquarium's first scheduled principal payment
is in 2014.  Mr. Goulette said the aquarium -- which has also cut
staff and imposed unpaid furloughs -- intends to make up the
principal payments by then.  The bond indenture calls for the
aquarium, a 501(c)(3) nonprofit, to make monthly payments to the
trustee of $83,820.  Between December and February, the aquarium
has only paid $55,000 every month, the trustee reported to the
Oregon Facilities Authority in a document dated Feb. 23.

The aquarium defaulted on that issue in 2002, and bondholders,
facing the threat of Chapter 11 bankruptcy, ultimately agreed to
tender their defaulted bonds for replacement bonds with maturities
12 to 15 years later than the original debt.


PARMALAT SPA: Italian Court Refuses to Fast-Track Tanzi's Trial
---------------------------------------------------------------
Italian Judge Judge Guido Piffer turned down on March 24,
prosecutors' request for a fast-track trial of Calisto Tanzi and
other members of his family for their part in Parmalat's 2003
collapse, guardian.co.uk reports.

Mr. Tanzi is Parmalat's founder and former chief executive
officer.  He was sentenced to 18 years in prison for his role in
the collapse of the European dairy giant.

Judge Piffer ruled that investigating magistrates in Milan, Italy,
had not provided enough evidence to justify putting the 29
individuals and three financial institutions involved in the
collapse on an accelerated trial, Mark Tran of the guardian.co.uk
says.  Judge Piffer maintained that there was sufficient evidence
to order eight of the accused, including Mr. Tanzi and two outside
auditors, to go immediately to trial, but not enough material to
warrant a trial for all defendants now.

Mr. Tran explains that an immediate trial would have skipped
preliminary hearings, which could have lasted for several years,
with defendants possibly going before a judge as early as April
2011.  However, Judge Piffer decided that it would be better not
to divide the accused into two groups in different trials because
their roles in the case were still unclear.

                        About Parmalat S.p.A.

Headquartered in Milan, Italy, Parmalat S.p.A. --
http://www.parmalat.net/-- sells nameplate milk products that can
be stored at room temperature for months.  It also has about 40
brand product lines, which include yogurt, cheese, butter, cakes
and cookies, breads, pizza, snack foods and vegetable sauces,
soups and juices.

The Company's U.S. operations filed for Chapter 11 protection
on February 24, 2004 (Bankr. S.D.N.Y. Case No. 04-11139).  Gary
Holtzer, Esq., and Marcia L. Goldstein, Esq., at Weil Gotshal
& Manges LLP, represent the Debtors.  When the U.S. Debtors
filed for bankruptcy protection, they reported more than
US$200 million in assets and debts.  The U.S. Debtors emerged
from bankruptcy on April 13, 2005.

Parmalat S.p.A. and its Italian affiliates filed separate
petitions for Extraordinary Administration before the Italian
Ministry of Productive Activities and the Civil and Criminal
District Court of the City of Parma, Italy on December 24, 2003.
Dr. Enrico Bondi was appointed Extraordinary Commissioner in
each of the cases.  The Parma Court has declared the units
insolvent.

On June 22, 2004, Dr. Bondi filed a Sec. 304 Petition, Case No.
04-14268, in the United States Bankruptcy Court for the Southern
District of New York.

Parmalat has three financing arms: Dairy Holdings Ltd., Parmalat
Capital Finance Ltd., and Food Holdings Ltd.  Dairy Holdings and
Food Holdings are Cayman Island special-purpose vehicles
established by Parmalat S.p.A.  The Finance Companies are under
separate winding up petitions before the Grand Court of the Cayman
Islands.  Gordon I. MacRae and James Cleaver of Kroll (Cayman)
Ltd. serve as Joint Provisional Liquidators in the cases.  On
January 20, 2004, the Liquidators filed Sec. 304 petition, Case
No. 04-10362, in the United States Bankruptcy Court for the
Southern District of New York.  In May 2006, the Cayman Island
Court appointed Messrs. MacRae and Cleaver as Joint Official
Liquidators.  Gregory M. Petrick, Esq., at Cadwalader, Wickersham
& Taft LLP, and Richard I. Janvey, Esq., at Janvey, Gordon,
Herlands Randolph, represent the Finance Companies in the Sec. 304
case.

The Honorable Robert D. Drain presided over the Parmalat Debtors'
U.S. cases.  On June 21, 2007, the U.S. Court granted Parmalat
permanent injunction.


PARMALAT SPA: Settles Disputes With PPL Partecipacoes
-----------------------------------------------------
Parmalat S.p.A. communicates that it has settled PPL Partecipacoes
Limitada in bankruptcy's outstanding claims.

The settlement envisages withdrawal of all of PPL's claims for the
consideration of 7 million Parmalat shares and assignment to
Parmalat of all outstanding PPL claims against Parmalat South
American affiliates for the consideration of 1 Euro.

The settlement includes payment of Euro 1,563,000.00 by Parmalat
to PPL in full satisfaction of PPL's holding of 9.01% of Parmalat
Colombia Ltda share capital.

The settlement is subject to [these] conditions precedent:

     (i) with respect to PPL: approval by the creditors'
         committee, the public prosecutor and the bankruptcy
         judge;

    (ii) with respect to Parmalat: ruling by the bankruptcy
         court of Parma authorizing adjustment of the bankruptcy
         total liability and issuance of Parmalat shares to PPL.

This settlement brings to an end the Brazilian litigation that has
originated from Parmalat's bankruptcy.

                        About Parmalat S.p.A.

Headquartered in Milan, Italy, Parmalat S.p.A. --
http://www.parmalat.net/-- sells nameplate milk products that can
be stored at room temperature for months.  It also has about 40
brand product lines, which include yogurt, cheese, butter, cakes
and cookies, breads, pizza, snack foods and vegetable sauces,
soups and juices.

The Company's U.S. operations filed for Chapter 11 protection
on February 24, 2004 (Bankr. S.D.N.Y. Case No. 04-11139).  Gary
Holtzer, Esq., and Marcia L. Goldstein, Esq., at Weil Gotshal
& Manges LLP, represent the Debtors.  When the U.S. Debtors
filed for bankruptcy protection, they reported more than
US$200 million in assets and debts.  The U.S. Debtors emerged
from bankruptcy on April 13, 2005.

Parmalat S.p.A. and its Italian affiliates filed separate
petitions for Extraordinary Administration before the Italian
Ministry of Productive Activities and the Civil and Criminal
District Court of the City of Parma, Italy on December 24, 2003.
Dr. Enrico Bondi was appointed Extraordinary Commissioner in
each of the cases.  The Parma Court has declared the units
insolvent.

On June 22, 2004, Dr. Bondi filed a Sec. 304 Petition, Case No.
04-14268, in the United States Bankruptcy Court for the Southern
District of New York.

Parmalat has three financing arms: Dairy Holdings Ltd., Parmalat
Capital Finance Ltd., and Food Holdings Ltd.  Dairy Holdings and
Food Holdings are Cayman Island special-purpose vehicles
established by Parmalat S.p.A.  The Finance Companies are under
separate winding up petitions before the Grand Court of the Cayman
Islands.  Gordon I. MacRae and James Cleaver of Kroll (Cayman)
Ltd. serve as Joint Provisional Liquidators in the cases.  On
January 20, 2004, the Liquidators filed Sec. 304 petition, Case
No. 04-10362, in the United States Bankruptcy Court for the
Southern District of New York.  In May 2006, the Cayman Island
Court appointed Messrs. MacRae and Cleaver as Joint Official
Liquidators.  Gregory M. Petrick, Esq., at Cadwalader, Wickersham
& Taft LLP, and Richard I. Janvey, Esq., at Janvey, Gordon,
Herlands Randolph, represent the Finance Companies in the Sec. 304
case.

The Honorable Robert D. Drain presided over the Parmalat Debtors'
U.S. cases.  On June 21, 2007, the U.S. Court granted Parmalat
permanent injunction.


PARMALAT SPA: Creditors Convert Warrants for 2,539,389 Shares
-------------------------------------------------------------
Parmalat S.p.A. said March 16 that, following the allocation of
shares to creditors of the Parmalat Group, the subscribed and
fully paid up share capital has now been increased by 2,539,389
euros to 1,737,925,715 euros (of which 1,710,499,008 shares and
27,426,707 shares deriving from the exercise of warrants) from
1,735,386,326 euros.  The share capital increase is due to the
exercise of 2,539,389 warrant.

    [The latest status of the share allotment is]:

    -- 7,158,556 shares representing approximately 0.4% of the
       share capital are still in a deposit account c/o Parmalat
       S.p.A., of which:

       * 4,989,460 or 0,3% of the share capital, registered in
         the name of individually identified commercial
         creditors, are still deposited in the intermediary
         account of Parmalat S.p.A. centrally managed by Monte
         Titoli (compared with 5,722,423 shares as at
         February 18, 2011);

       * 2,169,096 or 0.1% of the share capital registered in
         the name of the Foundation -- Fondazione Creditori
         Parmalat -- of which:

          (i) 120,000 shares representing the initial share
              capital of Parmalat S.p.A. (unchanged);

         (ii) 2,049,096 or 0.1% of the share capital that
              pertain to currently undisclosed creditors
              (unchanged).

On Feb. 18, Parmalat said that following the allocation of shares
to creditors of the Parmalat Group, the subscribed and fully paid
up share capital were increased by 1,801,684 euros to
1,735,386,326 euros (of which 1,710,499,008 shares and 24,887,318
shares deriving from the exercise of warrants) from 1,733,584,642
euros.

                        About Parmalat S.p.A.

Headquartered in Milan, Italy, Parmalat S.p.A. --
http://www.parmalat.net/-- sells nameplate milk products that can
be stored at room temperature for months.  It also has about 40
brand product lines, which include yogurt, cheese, butter, cakes
and cookies, breads, pizza, snack foods and vegetable sauces,
soups and juices.

The Company's U.S. operations filed for Chapter 11 protection
on February 24, 2004 (Bankr. S.D.N.Y. Case No. 04-11139).  Gary
Holtzer, Esq., and Marcia L. Goldstein, Esq., at Weil Gotshal
& Manges LLP, represent the Debtors.  When the U.S. Debtors
filed for bankruptcy protection, they reported more than
US$200 million in assets and debts.  The U.S. Debtors emerged
from bankruptcy on April 13, 2005.

Parmalat S.p.A. and its Italian affiliates filed separate
petitions for Extraordinary Administration before the Italian
Ministry of Productive Activities and the Civil and Criminal
District Court of the City of Parma, Italy on December 24, 2003.
Dr. Enrico Bondi was appointed Extraordinary Commissioner in
each of the cases.  The Parma Court has declared the units
insolvent.

On June 22, 2004, Dr. Bondi filed a Sec. 304 Petition, Case No.
04-14268, in the United States Bankruptcy Court for the Southern
District of New York.

Parmalat has three financing arms: Dairy Holdings Ltd., Parmalat
Capital Finance Ltd., and Food Holdings Ltd.  Dairy Holdings and
Food Holdings are Cayman Island special-purpose vehicles
established by Parmalat S.p.A.  The Finance Companies are under
separate winding up petitions before the Grand Court of the Cayman
Islands.  Gordon I. MacRae and James Cleaver of Kroll (Cayman)
Ltd. serve as Joint Provisional Liquidators in the cases.  On
January 20, 2004, the Liquidators filed Sec. 304 petition, Case
No. 04-10362, in the United States Bankruptcy Court for the
Southern District of New York.  In May 2006, the Cayman Island
Court appointed Messrs. MacRae and Cleaver as Joint Official
Liquidators.  Gregory M. Petrick, Esq., at Cadwalader, Wickersham
& Taft LLP, and Richard I. Janvey, Esq., at Janvey, Gordon,
Herlands Randolph, represent the Finance Companies in the Sec. 304
case.

The Honorable Robert D. Drain presided over the Parmalat Debtors'
U.S. cases.  On June 21, 2007, the U.S. Court granted Parmalat
permanent injunction.


PATRIOT NATIONAL: Closes Asset Sale ES Ventures for $60-Mil.
------------------------------------------------------------
Patriot National Bank completed the previously announced sale of
certain mortgage loans and underlying real estate properties to ES
Ventures One LLC.  The Asset Sale was consummated pursuant to the
terms of a Purchase and Sale Agreement, dated Feb. 25, 2011, among
the Bank, Pinpat Acquisition Corporation, a wholly owned
subsidiary of the Bank, and ES Ventures.  The Asset Sale was
consummated for an aggregate cash purchase price of $60,602,036,
all of which was paid to the Bank.  The aggregate purchase price
represents a recovery of 90.8% of the Bank's net book value for
these assets.

                  About Patriot National Bancorp

Stamford, Conn.-based Patriot National Bancorp, Inc. (NASDAQ:
PNBK) is the parent company of Patriot National Bank, a national
banking association headquartered in Stamford, Fairfield County,
in Connecticut.  Patriot National Bank has 19 full service
branches, 16 in Connecticut and three in New York.

The Company reported a net loss of $15.40 million on
$35.61 million of total interest and dividend income for the year
ended Dec. 31, 2010, compared with a net loss of $23.88 million on
$42.97 million of total interest and dividend income during the
prior year.

The Company's balance sheet at Dec. 31, 2010 showed
$784.32 million in total assets, $717.15 million in total
liabilities and $67.17 million in total shareholders' equity.


POINT BLANK: Former CEO Fails in Bid to Halt Deregistration
-----------------------------------------------------------
Dow Jones' DBR Small Cap reports that a judge denied a bid by the
fraud-entangled former chief executive of Point Blank Solutions
Inc. to halt the company from deregistering while he pursues an
appeal, instead affirming that the company could proceed with a
deal it struck with the Securities and Exchange Commission.

As reported by the Troubled Company Reporter on March 30, 2011,
BankruptcyData.com said Point Blank objected to shareholder and
former CEO David H. Brooks' motion seeking to stay the Court's
granting Point Blank's request to de-register as a public company
pending appeal.  In their objection, the Debtors reminded the
Court that "Brooks is a criminal, who used the Debtors as his own
private piggy bank. His criminal conduct."  The Debtors called Mr.
Brooks' request for a stay as another selfish attempt to benefit
at the expense of Point Blank and its creditors.

The SEC filed a joinder to the Debtor's objection.

                         About Point Blank

Headquartered in Pompano Beach, Florida, Point Blank Solutions,
Inc. -- http://www.pointblanksolutionsinc.com/-- designs and
produces body armor systems for the U.S. Military, Government and
law enforcement agencies, as well as select international markets.
The Company maintains facilities in Pompano Beach, Florida, and
Jacksboro, Tennessee.

The Company's former chief executive officer and chief operating
officer were convicted in September 2010 of orchestrating a
$185 million fraud.

Point Blank Solutions, formerly DHB Industries, filed for
Chapter 11 protection on April 14, 2010 (Bankr. D. Del. Case No.
10-11255).  Laura Davis Jones, Esq., and Timothy P. Cairns, Esq.,
at Pachulski Stang Ziehl & Jones LLP, serve as bankruptcy counsel
to the Debtor.  Olshan Grundman Frome Rosenweig & Wolosky LLP
serves as corporate counsel.  T. Scott Avila of CRG Partners Group
LLC is the restructuring officer.  Epiq Bankruptcy Solutions
serves as claims and notice agent.

The U.S. Trustee has appointed an Official Committee of Unsecured
Creditors and a separate Official Committee of Equity Security
Holders in the case.  The Equity Committee has tapped Morrison
Cohen LLP, and The Bayard, P.A., as counsel.  Robert M. Hirsh,
Esq., and Heike M. Vogel, Esq., at Arent Fox LLP, serve as counsel
to the Creditors Committee, and Frederick B. Rosner, Esq., and
Brian L. Arban, Esq., at Messana Rosner & Stern LLP, serve as
co-counsel.


POMPANO CREEK: Files List of 5 Largest Unsecured Creditors
----------------------------------------------------------

Entity/Person                  Nature of Claim      Claim Amount
-------------                  ---------------      ------------
WDG Architecture, PLLC             Trade debt             $37,150
1025 Connecticut Ave.,
NW #300
Washington, DC 20036
Attn: Jeffrey Nees
Chief Financial Officer
Phone: (202) 857-8300

Bigham Real Estate                 Trade debt             $12,000
3434 Cleveland St.
Hollywood, FL 33021


Howell & Associates                Trade debt             $20,000
2923 Macomb, St. NW
Washington, DC 20008


A. Grant Thornbrough &             Trade debt             $46,000
Associates
132 N Swinton Ave.
Delray Beach, FL 33444

Retirement Dynamics Inc            Trade debt             $25,000
6403 Amos Smith Road
Charlotte, NC 28214

Vienna, Virginia-based Pompano Creek Associates, LLC, filed for
Chapter 11 bankruptcy protection (Bankr. S.D. Fla. Case No. 11-
11989) on Jan. 26, 2011.  Loretta Bangor, Esq., at the Law Office
of Loretta Bangor, 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.


POMPANO CREEK: Files Schedules of Assets and Liabilities
--------------------------------------------------------
Pompano Creek Associates, LLC, filed with the United States
Bankruptcy Court for the Southern District of Florida its
schedules of assets and liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $24,000,000
  B. Personal Property                    $0
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                $5,696,429
  E. Creditors Holding
     Unsecured Priority
     Claims                                          $229,110
F. Creditors Holding
     Unsecured Non-priority
     Claims                                          $103,000
                                 -----------      -----------
        TOTAL                    $24,000,000       $6,028,539

Vienna, Virginia-based Pompano Creek Associates, LLC, filed for
Chapter 11 bankruptcy protection (Bankr. S.D. Fla. Case No. 11-
11989) on Jan. 26, 2011.  Loretta Bangor, Esq., at the Law Office
of Loretta Bangor, 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.


PRM REALTY: Case Conversion Hearing Slated for May 6
----------------------------------------------------
The Hon. Harlin D. Hale of the U.S. Bankruptcy Court for the
Northern District of Texas set May 6, 2011, at 1:30 p.m., to
consider the request to convert the Chapter 11 case of PRM Realty
Group LLC to Chapter 7 liquidation proceeding filed by William T.
Neary, the U.S. Trustee for Region 6.

According to the Troubled Company Reporter on Jan. 10, 2011, the
trustee told the Court that there is (i) diminution of assets
of the Debtor's estate with no hope of reorganization because the
Debtor has not yet proposed a plan of reorganization, (ii) gross
mismanagement of the estate because Debtor paid postpetition loan
without court approval, and (ii) failure to pay taxes because
Debtor has not timely paid taxes owed.

                     About PRM Realty Group

Chicago, Illinois-based PRM Realty Group, LLC, filed for Chapter
11 bankruptcy protection (Bankr. N.D. Tex. Case No. 10-30241) on
Jan. 6, 2010.  The Company's affiliates -- Peter R. Morris; Bon
Secour Partners, LLC; PM Transportation, LLC; Rangeline
Properties, LLC; PRS II, LLC; and Morris Radio Enterprises, LLC --
filed separate Chapter 11 bankruptcy petitions.  Gerrit M.
Pronske, Esq., at Pronske & Patel, P.C., assists PRM Realty in its
bankruptcy effort.  PRM Realty disclosed $34,054,818 in total
assets and $225,611,600 in total liabilities as of the Petition
Date.  No committee of unsecured creditors has been appointed.


R G & G: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------
Debtor: R G & G, Inc.
        P.O. Box 310
        Fayetteville, AR 72702

Bankruptcy Case No.: 11-71432

Chapter 11 Petition Date: March 28, 2011

Court: United States Bankruptcy Court
       Western District of Arkansas (Fayetteville)

Judge: Ben T. Barry

Debtor's Counsel: Jill R. Jacoway, Esq.
                  JACOWAY LAW FIRM
                  P.O. Drawer 3456
                  Fayetteville, AR 72702-3456
                  Tel: (479) 521-2621
                  E-mail: jacowaylaw@sbcglobal.net

Estimated Assets: $0 to $50,000

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/arwb11-71432.pdf

The petition was signed by Fredrick Lee Robertson.


SANSWIRE CORP: Inks Settlement Pact With TAO Technologies, et al.
-----------------------------------------------------------------
Sanswire Corp. entered into a Settlement Agreement with TAO
Technologies GmbH, Dr. Bernd-H Kroeplin and Global Telesat Corp
pursuant to which the Parties agreed to, amongst other things, the
following:

     * To terminate all existing agreements between the Parties;

     * That TAO and Kroeplin are to keep all cash and shares of
       the Company's Common Stock previously paid to them and that
       the Company is to ship back to TAO the old STS 111 (SD34)
       airship;

     * To discharge $2,474,753 in debt owed by the Company under
       the Old Agreements;

     * To cooperate to wind down and dissolve the joint venture,
       Sanswire-TAO Corp., which was formed on June 8, 2008;

     * To negotiate the potential terms of a revised relationship
       among the Parties for the next 60 days;

     * To a mutual non-disparagement clause and a mutual release
       and covenant not to sue for any claim related to the Old
       Agreements and for any claim that may exist currently;

     * The Company warranted that to its knowledge, it is not
       using any trade secret rights of TAO or Kroeplin and that
       it will not intentionally develop products that use any
       trade secret rights of TAO or Kroeplin, nor will it
       intentionally infringe any patent of TAO or Kroeplin in any
       country where such patent is valid; and

     * That the Parties will not use the name, logo or trademarks
       of any of the Parties in any commercial activity or
       promotional or advertising materials, including on its
       Web site.

A full-text copy of the Settlement Agreement is available for free
at http://is.gd/Rx7HXA

                        About Sanswire Corp.

Aventura, Fla.-based Sanswire Corp. develops, markets and sells
autonomous, lighter-than-air unmanned aerial vehicles capable of
carrying payloads that provide persistent security solutions at
low, mid and high altitudes.  The Company's airships are designed
for use by government-related and commercial entities that require
real-time intelligence, surveillance and reconnaissance support
for military, homeland defense, border and maritime missions.

The Company's balance sheet as of Sept. 30, 2010, showed
$1.6 million in total assets, $20.4 million in total liabilities,
and a stockholders' deficit of $18.8 million.  The Company had a
working capital deficit of $20.2 million and an accumulated
deficit of $142.4 million at Sept. 30, 2010.

As reported in the Troubled Company Reporter on April 14, 2010,
Rosen Seymour Shapss Martin & Company LLP, in New York, expressed
substantial doubt about the Company's ability to continue as a
going concern, following its 2009 results.  The independent
auditors noted that the Company has experienced significant losses
and negative cash flows, resulting in decreased capital and
increased accumulated deficits.


SASA GROUP: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: SASA Group Companies Inc.
        16833 Spring Canyon Pl
        Riverside, CA 92503

Bankruptcy Case No.: 11-19935

Chapter 11 Petition Date: March 28, 2011

Court: United States Bankruptcy Court
       Central District Of California (Riverside)

Debtor's Counsel: Terrell Proctor, Esq.
                  HOPE NOW LAW CENTERS
                  5950 Canoga Ave Ste 300
                  Woodland Hills, CA 91367
                  Tel: (818) 568-2515
                  Fax: (888) 509-0123
                  E-mail: proctorlaw2010@gmail.com

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

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

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

The petition was signed by Sabino Saldana, president.


SHUBH HOTELS PITTSBURGH: Court Approves Settlement
--------------------------------------------------
Dow Jones' DBR Small Cap reports that a judge cleared the way for
a settlement in the case of Shubh Hotels Pittsburgh LLC that will
hand more than $10 million to the hotel's mortgage lender in
exchange for its support of the company's bankruptcy plan.

As reported by the Troubled Company Reporter on March 22, 2011,
Kim Loenard at Pittsburgh Tribune-Review said Hilton Worldwide
Inc. claims it is owed $4.7 million in royalties and other fees
related to the abrupt end of its franchise license for
Pittsburgh's largest hotel -- but a bankruptcy settlement might
pay the hospitality chain a fraction of that amount.

According to Pittsburgh Tribune-Review, attorneys for Hilton and
about 200 other businesses with unsecured claims against Shubh
Hotels Pittsburgh raised issues with a new Chapter 11
reorganization plan that earmarks $650,000 for them to share.  The
businesses list more than $30 million in combined claims.

Pittsburgh Tribune-Review said creditors were to be paid in full
for court-allowed claims under earlier proposals, but under the
plan filed last week 80% of those owed money would recover
"pennies on the dollar," attorney John Steiner, who represents the
official committee of unsecured creditors, told Bankruptcy Judge
Jeffery Deller.  Mr. Steiner and other attorneys said the
disagreements could be worked out in coming weeks.

Judge Deller set a March 29 hearing on several matters, including
approval of a settlement between hotel mortgage holder BlackRock
Financial Management Inc. and Dr. Kiran Patel, a Tampa businessman
and cardiologist who acquired Shubh's equity in late September,
the report relates.

Pittsburgh Tribune-Review said the Wyndham Grand Pittsburgh
Downtown was a Hilton from its 1959 opening until six months ago,
when Hilton revoked its franchise license due to failing scores on
inspections.  Shubh, which bought the hotel from Hilton in 2006,
sought bankruptcy protection from creditors after BlackRock moved
to foreclose on its $49.6 million loan.

According to Pittsburgh Tribune-Review, a settlement reached
Feb. 25, 2011, after mediated talks would pay BlackRock $10
million, and the New York City-based company would remain the
mortgage funder under new terms.  May 30, 2011, is the proposed
effective date.

According to Pittsburgh Tribune-Review, Mr. Steiner said the new
plan carves out creditors the 712-room hotel won't need to do
business with in the future, and gives them lesser payments.
Onetime Shubh Pittsburgh parent Shubh Hotels LLC has the largest
claim, more than $15 million, the plan filed with the court shows.

                  About Shubh Hotels Pittsburgh

Boca Raton, Florida-based Shubh Hotels Pittsburgh, LLC, owns and
operates the largest hotel in the City of Pittsburgh.  For roughly
50 years, the Hotel operated as a Hilton franchise.  Hilton
terminated the Hilton Franchise Agreement by letter dated
September 1, 2010.  The Debtor filed for Chapter 11 bankruptcy
protection on September 7, 2010 (Bankr. W.D. Pa. Case No.
10-26337).  Scott M. Hare, Esq., in Pittsburgh, Pennsylvania, and
attorneys at Rudov & Stein, P.C., serve as co-counsel.  The Debtor
estimated its assets at $10 million to $50 million and debts at
$50 million to $100 million.


SINOBIOMED INC: CEO Yu Has Option to Buy 5 Million Common Shares
----------------------------------------------------------------
In a Form 3 filing with the U.S. Securities and Exchange
Commission, George Yu, president & CEO at Sinobiomed Inc.,
disclosed that he has option to buy 5,000,000 shares of common
stock of Company, which option will expire on Sept. 1, 2015.

                         About Sinobiomed

Sinobiomed Inc. formerly CDoor Corp. (OTC BB: SOBM)
-- http://www.sinobiomed.com/-- was incorporated in the State of
Delaware.  The Company is a Chinese developer of genetically
engineered recombinant protein drugs and vaccines.  Based in
Shanghai, Sinobiomed currently has 10 products approved or in
development: three on the market, four in clinical trials and
three in research and development.  The Company's products respond
to a wide range of diseases and conditions, including: malaria,
hepatitis, surgical bleeding, cancer, rheumatoid arthritis,
diabetic ulcers and burns, and blood cell regeneration.

Sinobiomed last filed financial statements with the Securities and
Exchange Commission in 2008.

Sinobiomed Inc.'s consolidated balance sheet at March 31, 2008,
showed $8,330,453 in total assets and $15,460,323 in total
liabilities, resulting in a $7,129,870 total stockholders'
deficit.

                        Going Concern Doubt

Schumacher & Associates Inc., in Denver, expressed substantial
doubt about Sinobiomed Inc.'s ability to continue as a going
concern after auditing the company's consolidated financial
statements for the year ended Dec. 31, 2007.  The auditing
firm reported that the Company has experienced losses since
commencement of operations and has negative working capital and a
stockholders' deficit.

The Company is in the process of researching, developing, testing
and evaluating proposed new pharmaceutical products and has not
yet determined whether these products are technically or
economically feasible.  Management's plan is to actively search
for new sources of capital, including government and non-
government grants toward research projects and new equity
investment.


SOUTHWESTERN PENNSYLVANIA: Case Summary & Creditors List
--------------------------------------------------------
Debtor: Southwestern Pennsylvania Regional Corporation
        425 Sixth Avenue, Suite 2500
        Pittsburgh, PA 15219

Bankruptcy Case No.: 11-21860

Chapter 11 Petition Date: March 29, 2011

Court: U.S. Bankruptcy Court
       Western District of Pennsylvania (Pittsburgh)

Debtor's Counsel: Michael Kaminski, Esq.
                  BLUMLING & GUSKY, LLP
                  1200 Koppers Building
                  436 Seventh Avenue
                  Pittsburgh, PA 15219-1425
                  Tel: (412) 227-2500
                  Fax: (412) 227-2050
                  E-mail: mkaminski@blumlinggusky.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 two largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/pawb11-21860.pdf

The petition was signed by James Hassinger, PhD., president and
CEO.


SPARTAN HOLDING: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Spartan Holding Company, Inc.
        211 E. Six Forks Road, Suite 204
        Raleigh, NC 27609

Bankruptcy Case No.: 11-02355

Chapter 11 Petition Date: March 28, 2011

Court: United States Bankruptcy Court
       Eastern District of North Carolina (Wilson)

Judge: Randy D. Doub

Debtor's Counsel: Jack B. Styles, Esq.
                  LAW OFFICE JACK B. STYLES
                  P.O. Box 20906
                  Raleigh, NC 27619
                  Tel: (919) 821-5144

Scheduled Assets: $734,400

Scheduled Debts: $1,366,225

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

The petition was signed by Ralph Ledford, president.


SRKO FAMILY: Taps Littleton & Project One as REIT Consultants
-------------------------------------------------------------
The SRKO Family Limited asks the U.S. Bankruptcy Court for the
District of Colorado for permission to employ Littleton Capital
Partners and Project One Integrated Services as real estate
development consultants.

Littleton Capital will undertake a 60-day study on the status
of Colorado Crossing and the requirements for proceeding to
development while Project One will coordinate the task to be
undertaken by it with Littleton Capital and do a construction
inspection and assessment of costs to complete the development.

Colorado Crossing, the Debtor's primary asset, is a 154 acre mixed
use development located on the north end of Colorado Springs.

The Debtor will pay $20,000 per month to Littelon Capital.
Project One's professionals and their hourly rates:

    Principals             $185
    Sr. Project Manager    $160
    Project Manager        $135
    Asst. Project Manager  $110
    Administrative Support $50

The Debtor assures the Court that the firms are "disinterested
persons" within the meaning of Section 101(14) of the Bankruptcy
Code.

                     About The SRKO Family LP

The SRKO Family Limited Partnership, dba Colorado Crossing, is
based in Colorado Springs, Colorado.  SRKO Family is the owner of
the financially troubled Colorado Crossing project.  The Company
was run by Colorado Springs developer Jannie Richardson.

The Company filed for Chapter 11 bankruptcy protection (Bankr. D.
Colo. Case No. 10-13186) on Feb. 19, 2010.  The Debtor disclosed
$34,421,448 in assets and $80,619,854 in liabilities as of the
Petition Date.


STAFFORD FURNITURE: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: Stafford Furniture Deliveries LLC
        501 Church Street, #117
        Vienna, VA 22180
        Tel: (703) 255-6629

Bankruptcy Case No.: 11-12278

Chapter 11 Petition Date: March 29, 2011

Court: U.S. Bankruptcy Court
       Eastern District of Virginia (Alexandria)

Judge: Stephen S. Mitchell

Debtor's Counsel: Eugene W. Policastri, Esq.
                  BROMBERG ROSENTHAL LLP
                  401 N. Washington Street, Suite 500
                  Rockville, MD 20850
                  Tel: (301) 251-6200
                  Fax: (301) 309-9436
                  E-mail: ewpolicastri@brsglaw.com

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

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

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

The petition was signed by Richard P. Deeds, owner representative.


SUMMIT BUSINESS: To Present Plan for Confirmation on May 5
----------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Summit Business Media Holding Co. set a May 5
confirmation hearing for approval of the Chapter 11 plan.  The
bankruptcy judge approved the explanatory disclosure statement on
March 28.

As reported in the Feb. 22, 2011 edition of the Troubled Company
Reporter, Summit Business Media Holding Company, et al., filed on
Feb. 1, 2011, their Chapter 11 Plan of Reorganization with the
U.S. Bankruptcy Court for the District of Delaware.  The plan was
worked out in advance with holders of 83% or more of the first-
and second-lien debt.

Pursuant to the Plan terms, holders of allowed priority tax
claims, which are unimpaired and unclassified under the Plan, will
be paid over a period not later than 5 years after the Petition
Date.

Holders of prepetition first lien secured claims owed $189 million
will receive a new $110 million first-priority first lien term
loan, 89.4% of the new stock.  The first-lien lenders will recover
68 cents on the dollar.

Holders of $55 million in prepetition second lien debt will
receive $1 million in cash and 5.56% of the new stock.  They will
have a 4% recovery.

Holders of allowed general unsecured claims expected to total
$6 million will receive $100,000 cash, resulting in a 2% recovery.

Holders of equity interests in Summit will not receive anything
and their interests will be cancelled.  Equity Interests in the
other debtor-affiliates will be reinstated.

A copy of the Chapter 11 Plan is available for free at:

        http://bankrupt.com/misc/SummitBusiness.PLan.pdf

                    About Summit Business Media

New York-based Summit Business Media Holding Company --
http://www.summitbusinessmedia.com/-- is a business-to-business
publisher and event organizer serving the insurance, investment
advisory, professional services and mining investment markets.
Summit employs nearly 400 employees in ten offices across the
United States.  The Company was formed through seven acquisitions
since 2006.

Summit Business is a Delaware corporation that wholly owns Summit
Business Media Intermediate Holding Company, LLC, a Delaware
limited liability company.  Summit Intermediate wholly owns The
National Underwriter Company, an Ohio corporation, which in turn
wholly owns six distinct subsidiary companies which comprise the
remaining Debtors.

Summit Business Media Holding Company and eight affiliates filed
for Chapter 11 protection (Bankr. D. Del. Case No. 11-10231) on
Jan. 25, 2011.

Kimberly E. Lawson, Esq., and Kathleen Murphy, Esq., at Reed Smith
LLP, in Wilmington, Delaware; and J. Andrew Rahl, Jr., Esq., at
Reed Smith LLP, in New York, serve as counsel to the Debtors.
Lincoln Partners Advisors LLC is the financial advisor.  Garden
City Group is the claims and notice agent.  Summit estimated
assets and debts of $100 million to $500 million in its Chapter 11
petition.


TALON INTERNATIONAL: Incurs $1.46 Million Net Loss in 2010
----------------------------------------------------------
Talon International, Inc., filed with the U.S. Securities and
Exchange Commission its annual report on Form 10-K reporting a net
loss of $1.46 million on $41.46 million of net sales for the year
ended Dec. 31, 2010, compared with a net loss of $2.69 million on
$38.67 million of net sales during the prior year.

The Company's balance sheet at Dec. 31, 2010 showed $13.83 million
in total assets, $8.81 million in total liabilities, $17.82
million in Series B Convertible Preferred Stock, and $12.80
million in total stockholders' deficit.

"Despite continued worldwide economic and industry challenges
throughout 2010, Talon made extraordinary progress in growing and
improving its business," said Lonnie Schnell, Talon's Chief
Executive Officer.  "The sales increase of 15% in our core zipper
product was a significant accomplishment in a difficult and
volatile industry environment during 2010, and emphasizes the
continued strength and acceptance of our brand.  Our sales growth,
together with almost a full percentage point increase in our
margin, and tight controls over our operating costs resulted in
income from operations of $1.5 million for 2010 - an increase by
more than five times over 2009."

The independent auditor did not issue a going concern
qualification in its audit report on the financial statements for
the Company's financial statements for the year ended Dec. 31,
2010.  As reported in the TCR on Dec. 9, 2010, SingerLewak LLP, in
Los Angeles, expressed substantial doubt about the Company's
ability to continue as a going concern following the 2009 results.
The independent auditors noted that the Company incurred a net
loss of $2.7 million for 2009, had an accumulated deficit of
$66.3 million and a working capital deficit of $17.1 million at
Dec. 31, 2009.

A full-text copy of the annual report on Form 10-K is available
for free at http://is.gd/WjU8li

                     About Talon International

Woodland Hills, Calif.-based Talon International, Inc. (OTC BB:
TALN) -- http://www.talonzippers.com/-- is a global supplier of
apparel fasteners, trim and interlining products to manufacturers
of fashion apparel, specialty retailers, mass merchandisers, brand
licensees and major retailers.  Talon manufactures and distributes
zippers and other fasteners under its Talon(R) brand, known as the
original American zipper invented in 1893.  Talon also designs,
manufactures, engineers, and distributes apparel trim products and
specialty waistbands under its trademark names, Talon, Tag-It and
TekFit, to more than 60 apparel brands and manufacturers including
Wal-Mart, Kohl's, J.C. Penney, Victoria's Secret, Tom Tailor,
Abercrombie and Fitch, Polo Ralph Lauren, Phillips-Van Heusen,
Reebok and Juicy Couture.  Talon has offices and facilities in the
United States, United Kingdom, Hong Kong, China, and Bangladesh.


TALON THERAPEUTICS: Incurs $25.98 Million Net Loss in 2010
----------------------------------------------------------
Talon Therapeutics, Inc., filed with the U.S. Securities and
Exchange Commission its annual report on Form 10-K reporting a net
loss of $25.98 million for the year ended Dec. 31, 2010, compared
with a net loss of $24.14 million during the prior year.  The
Company does not generate any recurring revenue and will require
substantial additional capital before it will generate cash flow
from its operating activities, if ever.  The Company does not
currently have sufficient capital to fund its entire development
plan beyond 2011.

The Company's balance sheet at Dec. 31, 2010 showed $24.02 million
in total assets, $35.24 million in total liabilities, $30.64
million in redeemable convertible preferred stock and $41.86
million in total stockholders' deficit.

BDO USA, LLP, in San Francisco, Calif., expressed substantial
doubt about the Company's ability to continue as a going concern.
BDO noted that the Company suffered recurring losses from
operations and has a net capital deficiency.

A full-text copy of the annual report on Form 10-K is available
for free at http://is.gd/hepwJV

                      About Talon Therapeutics

Formerly known as Hana Biosciences, Inc., Talon Therapeutics Inc.
(TLON.OB.) -- http://www.talontx.com/-- is a biopharmaceutical
company dedicated to developing and commercializing new,
differentiated cancer therapies designed to improve and enable
current standards of care.  The company's lead product candidate,
Marqibo, potentially treats acute lymphoblastic leukemia and
lymphomas.  The Company has additional pipeline
opportunities some of which, like Marqibo, improve delivery and
enhance the therapeutic benefits of well characterized, proven
chemotherapies and enable high potency dosing without increased
toxicity.

Effective Dec. 1, 2010, Hana Biosciences Inc. changed its name to
Talon Therapeutics Inc.  The name change was effected by merging
Talon Therapeutics, Inc., a wholly-owned subsidiary of the
Company, with and into the Company, with the Company as the
surviving corporation in the merger.


TERRESTAR NETWORKS: U.S. Bank Blasts Creditors Over FCC Licenses
----------------------------------------------------------------
Bankruptcy Law360 reports that U.S. Bank N.A. on Friday blasted an
attempt by TerreStar Networks Inc.'s unsecured creditors and
Sprint Nextel Corp. to void the bank's approximately $1.5 billion
in liens against one of the debtor's satellites in New York
bankruptcy court.

           About TerreStar Corp. and TerreStar Networks

TerreStar Corporation and TerreStar Holdings, Inc., filed
voluntary Chapter 11 petitions with the U.S. Bankruptcy Court for
the Southern District of New York on Feb. 16, 2011.

TSC's Chapter 11 filing joins the bankruptcy proceedings of
TerreStar Networks Inc. and 12 other affiliates, which were filed
on Oct. 19, 2010.  The October Chapter 11 cases are procedurally
consolidated under TSN's Case No. 10-15446 under Judge Sean H.
Lane.

TSC is the parent company of each of the October Debtors.  TSC
has four wholly owned direct subsidiaries: TerreStar Holdings,
Inc., TerreStar New York Inc., Motient Holdings Inc., and MVH
Holdings Inc.

TSC is currently seeking to have its case deemed jointly
administered with the cases of seven of the October Debtors under
the caption In re TerreStar Corporation, et al., Case No. 11-
10612 (SHL).  The seven Debtor entities who seek joint
administration with TSC are:

    * TerreStar New York Inc.,
    * Motient Communications Inc.
    * Motient Holdings Inc.,
    * Motient License Inc.,
    * Motient Services Inc.,
    * Motient Ventures Holdings Inc., and
    * MVH Holdings Inc.

TSC is a Delaware corporation whose main asset is the equity in
non-Debtor TerreStar 1.4 Holdings LLC, which has the right to use
a "1.4 GHz terrestrial spectrum" pursuant to 64 licenses issued
by the Federal Communication Commission.  TSC also has an
indirect 89.3% ownership interest in TerreStar Network, Inc.,
which operates a separate and distinct mobile communications
business.  TerreStar Holdings is a Delaware corporation that
directly holds 100% of the interests in 1.4 Holdings LLC.

TerreStar Networks Inc. or TSN, the principal operating entity of
TSC, developed an innovative wireless communications system to
provide mobile coverage throughout the United States and Canada
using satellite-terrestrial smartphones.  The system, however,
required an enormous amount of capital expenditures and initially
produced very little in the way of revenue.  TSN's available cash
and borrowing capacity were insufficient to cover its funding;
thus, forcing TSN to seek bankruptcy protection in October 2010.

TSC estimated assets and debts of $100 million to $500 million in
its Chapter 11 petition.

Ira S. Dizengoff, Esq., at Akin, Gump, Strauss, Hauer & Feld,
LLP, in New York, serves as counsel for the TSC and TSN Debtors.
Garden City Group is the claims and notice agent.  Blackstone
Advisory Partners LP is the financial advisor.

The Garden City Group, Inc., is the claims and noticing agent in
the Chapter 11 cases.  Otterbourg Steindler Houston & Rosen P.C.
is the counsel to the Official Committee of Unsecured Creditors
formed in TSN's Chapter 11 cases.  FTI Consulting, Inc., is the
Committee's financial advisor.


TEXAS RANGERS: Lender Files Suit Against KPMG LLP
-------------------------------------------------
Bankruptcy Law360 reports that KPMG LLP, the U.S. subsidiary of
Swiss auditor KPMG International, was sued in New York on Tuesday
over a 2008 audit that allegedly allowed former Texas Rangers
owner Tom Hicks to conceal his financial troubles and deny lenders
a chance to recover $525 million in debt.  The lender, GSP Finance
LLC, filed suit in the Supreme Court of the State of New York,
County of New York.

                   About Texas Rangers Baseball

Texas Rangers Baseball Partners owns and operates the Texas
Rangers Major League Baseball Club, a professional baseball club
in the Dallas/Fort Worth Metroplex.  TRBP is a Texas general
partnership, in which subsidiaries of HSG Sports Group LLC own a
100% stake.  Controlled by Thomas O. Hicks, HSG also indirectly
wholly-owns Dallas Stars, L.P., which owns and operates the Dallas
Stars National Hockey League franchise.  The Texas Rangers have
had five owners since the club moved to Arlington in 1972.  Mr.
Hicks became the fifth owner in the history of the Texas Rangers
on June 16, 1998.

Texas Rangers Baseball Partners filed a Chapter 11 petition on May
24 (Bankr. N.D. Tex. Case No. 10-43400).  The partnership has
filed simultaneously with the bankruptcy petition a Chapter 11
plan that contemplates the sale of the club to an entity formed by
a group that includes the current President of the Texas Rangers,
Nolan Ryan, and Chuck Greenberg, a sports lawyer and minor league
club owner.  In its petition, Texas Rangers Baseball Partners said
it had both assets and debt of less than $500 million.

Martin A. Sosland, Esq., at Weil, Gotshal & Manges LLP, serves as
bankruptcy counsel to the Debtor.  Forshey & Prostok LLP is the
conflicts counsel.  Parella Weinberg Partners LP serves as
financial advisor.

Lenders to the Texas Rangers sought to force the baseball team's
equity owners -- Rangers Equity Holdings, L.P. and Rangers Equity
Holdings GP, LLC -- into bankruptcy court protection (Bankr. N.D.
Tex. Case No. 10-43624 and 10-43625).  The lenders, a group that
includes investment funds Monarch Alternative Capital and
Kingsland Capital Management, filed an involuntary bankruptcy
petition on May 28, 2010 against the two companies.  The two
companies were not included in the May 24 Chapter 11 filing of
TRBP.

U.S. Bankruptcy Judge Stacey G. C. Jernigan on Aug. 5, 2010
confirmed the fourth amended version of the Prepackaged Plan of
Reorganization of Texas Rangers Baseball Partners.  The judge's
confirmation order clears the way for a group of Hall of Fame
pitcher Nolan Ryan, and Pittsburgh sports attorney and minor-
league team owner Charles Greenberg to purchase the Texas Rangers.
The Ryan group paid $385 million in cash and assumed $208 million
in liabilities.  The Ryan group outbid Dallas Mavericks owner Mark
Cuban at an auction.


THOMPSON PUBLISHING: Plan Confirmation Hearing Set for May 11
-------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Thompson Publishing Holding Co., now known as TPH
Seller Inc., on March 29 received approval of the disclosure
statement explaining its proposed liquidating Chapter 11 plan.
Thompson is now scheduled to present the plan for confirmation at
a hearing on May 11.

As reported by the Troubled Company Reporter on March 7, 2011,
Thompson Publishing filed a liquidating plan on March 1.
Unsecured creditors with an estimated $500,000 in claims are
expected to recover about 20%.  Secured lenders agreed to waive
their deficiency claims.  Second-lien lenders are to receive
nothing under the Plan.

According to Mr. Rochelle, under the disclosure statement,
$100,000 is set aside for unsecured creditors from the sale of
most of the Debtor's assets is intact.  In total, the Debtor has
$1.13 million in cash, including $750,000 earmarked to pay final
expenses of the Chapter 11 case.

                     About Thompson Publishing

Based in Washington, legal publisher Thompson Publishing had 300
products and 70,000 subscribers, producing an estimated $49
million in revenue in 2010.  Thompson also arranged conferences
and employee-training events.  Avista Capital Partners bought a
50% stake in Thompson for $130 million in 2006.

Thompson Publishing Holding Co. Inc. and six affiliates sought
chapter 11 protection (Bankr. D. Del. Case No. 10-13070) on
Sept. 21, 2010.  Thompson disclosed approximately $20 million in
assets and about $166 million in liabilities as of the Petition
Date.  John F. Ventola, Esq., and Lisa E. Herrington, Esq., at
Choate, Hall & Stewart LLP in Boston, Mass., and Alissa T. Gazze,
Esq., Chad A. Fights, Esq., and Derek C. Abbott, Esq., at Morris
Nichols Arsht & Tunnell, LLP, serve as the Debtors' bankruptcy
counsel.  Mark Chesen and Michael Gorman at SSG Capital Advisors
LLC in Conshohocken, Pa., act as the Debtors' financial advisors.

Thompson was authorized in November to sell the business to the
first-lien lenders in exchange for $42 million in secured debt.
In the process, $100,000 was set aside for unsecured creditors.
Thompson changed its name to TPH Seller Inc. following the sale.


UNIVERSAL SOLAR: W. Chen Resigns as Interim Chief Fin'l Officer
---------------------------------------------------------------
Effective March 28, 2011, Mr. Wensheng Chen resigned as Interim
Acting Chief Financial Officer of Universal Solar Technology, Inc.

Effective March 28, 2011, the Company appointed Mr. Xin Ma as the
Company's Chief Financial Officer.  Since January 2009, Mr. Ma has
also served as the Vice President of Kiwa Bio-Tech Products Group
Corporation, a U.S. publicly-traded company based in China.
Kiwa's securities are quoted on the Over-the-Counter Bulletin
Board.  From January 2006 to December 2008, Mr. Ma was Kiwa's
Associate Chief Financial Officer.  Mr. Ma received a MSc. in
Management in 2005 and a MSc. in Finance in 2006 from the
University of Leicester in England.

The Company has entered into a two-year employment agreement with
Mr. Ma pursuant to which the Company will pay Mr. Ma a salary of
RMB 30,000 per month.  Mr. Ma is also entitled to a three month
severance package of salary and benefits if his employment is
terminated without cause or in the event of a merger, sale of
assets, or dissolution of the Company.

A full-text copy of the Employment Agreement is available for free
at http://is.gd/SRRZ9J

                      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.

Paritz & Company, P.A., in Hackensack, N.J., expressed substantial
doubt about the Company's ability to continue as a going concern.
The independent auditors noted that the Company's current
liabilities exceeded its current assets by US$4,353,215 and the
Company has incurred net loss of US$925,466 since inception.

The Company reported a net loss of US$421,562 on US$691,713 of
sales for the year ended December 31, 2009, compared with a net
loss of US$346,993 on US$11,454 of sales during the prior year.

The Company's balance sheet at December 31, 2009 showed
US$5.49 million in total assets, US$5.85 million in total
liabilities and US$357,001 in total stockholders' deficiency.


TRIBUNE CO: Committee Wants to Amend "Termination Event"
--------------------------------------------------------
The orders approved by the Bankruptcy Court granting the Official
Committee of Unsecured Creditors in Tribune Co.'s cases standing
to prosecute certain actions on behalf of the Debtors' estates
provide that, pending the occurrence of a "Termination Event," any
litigation commenced by the Committee pursuant to the authority
granted in the Standing Orders (a) may not be settled absent the
agreement of the Debtors and the Committee and (b) broadly will be
stayed.  Since the entry of the Standing Orders, the Committee has
filed certain complaints and negotiated tolling agreements with
respect to statutes of limitations, all as contemplated by and
consistent with the terms of the Standing Orders.  None of the
litigation that the Committee has commenced pursuant to the
authority it was granted in the Standing Orders has been settled.
And, critically, consistent with the Standing Orders, the
litigation the Committee has commenced is stayed, pending the
occurrence of a Termination Event, the Committee notes.

The Court and parties-in-interest have completed the initial phase
of trial, including ten days of evidentiary hearings, in
connection with two competing plans of reorganization proposed on
the one hand by the Debtors, the Committee and certain senior
lenders, and on the other hand by certain noteholders.  Trial of
the Competing Plans will re-commence on April 11, 2011, and is
expected to be followed by briefing and argument, which have yet
to be scheduled.  As a result, at least one "Termination Event" --
the occurrence of the date of April 1, 2011 -- shortly will take
place.

The Committee seeks to extend the April 1 Termination Event to
permit the parties to continue to enjoy the benefits of the
Standing Orders while the Competing Plans are litigated, a ruling
is made, or a settlement achieved.

By this motion, the Committee seeks the Court's approval to amend
the definition of "Termination Event" to extend the April 1, 2011
Termination Event through June 15, 2011.

                       About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection on Dec. 8, 2008 (Bankr. D. Del. Lead Case No. 08-
13141).  The Debtors proposed Sidley Austin LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North America LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.  Chadbourne & Parke LLP and
Landis Rath LLP serve as co-counsel to the Official Committee
of Unsecured Creditors.  AlixPartners LLP is the Committee's
financial advisor.  Landis Rath Moelis & Company serves as the
Committee's investment banker.  Thomas G. Macauley, Esq., at
Zuckerman Spaeder LLP, in Wilmington, Delaware, represents the
Committee in connection with the lawsuit filed against former
officers and shareholders for the 2007 LBO of Tribune.

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


TRIBUNE CO: Sam Zell Seeks Clarification on Rule 9011 Motion
------------------------------------------------------------
Samuel Zell asks the Bankruptcy Court to make clear that leave is
not necessary to serve a motion for relief under Rule 9011 of the
Federal Rule of Bankruptcy Procedure.  In the alternative, Mr.
Zell asks for leave to serve a Rule 9011 motion.

In the adversary proceeding captioned Official Committee of
Unsecured Creditors of Tribune Co., et al., vs. Fitzsimons, et
al., Adversary Proceeding No. 10-54010, at least three claims were
asserted against Mr. Zell.  Mr. Zell contends that those claims
lack a reasonable basis under Rule 9011:

  1. The Committee's claim that Mr. Zell allegedly aided and
     abetted breaches of fiduciary duties by the Tribune's
     Special Committee at Step One, at a time when Mr. Zell was
     sitting across the table from the Special Committee, at its
     invitation, bargaining at arm's-length to purchase Tribune
     on terms acceptable to the Special Committee.  There is no
     factual basis for depriving Mr. Zell of the well-
     established legal protections against aiding-and-abetting
     liability for a party negotiating across the table from a
     party that allegedly breaches its fiduciary duty. The
     Examiner found this alleged claim "highly unlikely" to
     succeed.

  2. The Committee's claim that Mr. Zell breached his fiduciary
     duties when he became a director after Step One was
     approved, notwithstanding that he completely abstained from
     any board actions related to the transaction.  This claim
     is directly contrary to controlling Delaware authority.
     The Examiner was not even asked to address whether Mr. Zell
     could breach fiduciary duties when he abstained from taking
     action, one way or another, on a transaction in which he
     had a known and fully disclosed interest.

  3. The claim that EGI-TRB's corporate substance should be
     "pierced" and disregarded so that Mr. Zell should be liable
     as its alter-ego.  The Complaint simply makes the
     conclusory allegation that EGI-TRB was Mr. Zell's "alter
     ego," and is bereft of any of the factual allegations that
     are necessary to state such a difficult claim, including a
     lack of corporate formalities, inadequate capitalization,
     or a sham purpose.  No party considered this newly-minted
     theory sufficiently credible to ask the Examiner to
     consider it, and the Examiner nowhere identified it as a
     plausible basis for liability. It is well beyond the pale.

                       About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection on Dec. 8, 2008 (Bankr. D. Del. Lead Case No. 08-
13141).  The Debtors proposed Sidley Austin LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North America LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.  Chadbourne & Parke LLP and
Landis Rath LLP serve as co-counsel to the Official Committee
of Unsecured Creditors.  AlixPartners LLP is the Committee's
financial advisor.  Landis Rath Moelis & Company serves as the
Committee's investment banker.  Thomas G. Macauley, Esq., at
Zuckerman Spaeder LLP, in Wilmington, Delaware, represents the
Committee in connection with the lawsuit filed against former
officers and shareholders for the 2007 LBO of Tribune.

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


TRIBUNE CO: Opposes S. Gellman's $1.75-Mil. Admin. Claim
--------------------------------------------------------
Tribune Co. and its units ask the Bankruptcy Court to deny Steven
Gellman's motion for allowance of $1.75 million administrative
claim.  The Debtors maintain that they are not aware of any
actions for wrongful termination filed by Mr. Gellman in state or
federal court nor of any complaints filed by Mr. Gellman with the
California Division of Labor Standards Enforcement, the California
Department of Fair Employment and Housing, or the U.S. Department
of Labor.

The Debtors assert that Mr. Gellman's termination provided no
compensable post-petition benefit to Los Angeles Times
Communications LLC's estate, nor has Mr. Gellman demonstrated any.

"The Court should deny the Gellman Motion without prejudice to Mr.
Gellman's right to adjudicate the Gellman Claims - which is an
ordinary-course, post-petition employment dispute - in a
bankruptcy forum," says Bryan Krakauer, Esq., at Sidley Austin
LLP, in Chicago, Illinois.

The Official Committee of Unsecured Creditors filed with the Court
a joinder as to the Debtors' Objection.  In a separate filing, Mr.
Gellman filed with the Court a declaration in support of his
Motion to Allow Claim.

                       About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection on Dec. 8, 2008 (Bankr. D. Del. Lead Case No. 08-
13141).  The Debtors proposed Sidley Austin LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North America LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.  Chadbourne & Parke LLP and
Landis Rath LLP serve as co-counsel to the Official Committee
of Unsecured Creditors.  AlixPartners LLP is the Committee's
financial advisor.  Landis Rath Moelis & Company serves as the
Committee's investment banker.  Thomas G. Macauley, Esq., at
Zuckerman Spaeder LLP, in Wilmington, Delaware, represents the
Committee in connection with the lawsuit filed against former
officers and shareholders for the 2007 LBO of Tribune.

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


TRIBUNE CO: Noteholders File Second Amended Plan
------------------------------------------------
Aurelius Capital Management, LP, on behalf of its managed
entities; Deutsche Bank Trust Company Americas, in its capacity
as successor Indenture Trustee for certain series of Senior
Notes; Law Debenture Trust Company of New York, in its capacity
as successor Indenture Trustee for certain series of Senior
Notes; and Wilmington Trust Company, in its capacity as successor
Indenture Trustee for the PHONES Notes, submitted to Judge Kevin
J. Carey of the U.S. Bankruptcy Court for the District of
Delaware a Second Amended Joint Plan of Reorganization for
Tribune Company and its subsidiaries on March 28, 2011.

The Amended Noteholder Plan provides for between 45.3% and 51.2%
of the Debtors' total distributable enterprise value or "DEV"
assumed to be at $6.75 billion to be distributed to creditors
upon the Debtors' emergence from Chapter 11, on behalf of the
Noteholders, Daniel H. Golden, Esq., at Akin Gump Strauss Hauer &
Feld LLP, in New York, tells the Court.

Based on non-material modifications to the reserve structure in
the Noteholder Plan, between 70.5% and 79.8% of the equity value
of Reorganized Tribune will be distributed to Creditors as of the
Effective Date, leaving only 20.2% to 29.5% of the equity value
of Reorganized Tribune held in reserve pending the outcome of the
causes of action in connection to Tribune's 2007 leveraged buy-
out, Mr. Golden relates.  To the extent the Court determines that
the actual DEV is greater than $6.75 billion, the percentage of
equity distributed to Creditors as of the Effective Date would
increase and the percentage of equity held in reserve would
decrease correspondingly, he says.

"For example, if the Bankruptcy Court determines that the DEV is
$8 billion, between 51.6% and 56.6%11 of the Debtors' DEV will be
initially distributed to Creditors upon the Debtors' emergence
from Chapter 11.  At an $8. billion DEV, based on nonmaterial
modifications to the reserve structure in the Noteholder Plan,
between 73.9% and 81.1%12 of the equity value of Reorganized
Tribune will be distributed to Creditors as of the Effective
Date, leaving only 18.9% to 26.1%13 of the equity value of
Reorganized Tribune held in reserve pending the outcome of the
LBO-Related Causes of Action," Mr. Golden points out.

Moreover, a substantial portion of the equity value of
Reorganized Tribune projected to be held in reserve as of the
Effective Date is on account of reserves in respect of the Bridge
Loan Lender Claims. To the extent the Senior Lenders and the
Bridge Loan Lenders agree to a settlement providing for the same
value recovery to the Bridge Loan Lenders under the Noteholder
Plan as currently contemplated by the Plan of Reorganization
proposed by the Debtors, the amount of equity value of
Reorganized Tribune held in reserve on the Effective Date will be
reduced to only 5.5% to 16.6% --assuming a DEV of $6.75 billion
or 4.0% to 12.6% -- assuming a DEV of $8.00 billion, Mr. Golden
explains.

According to Mr. Golden, the Noteholder Plan is premised upon
enforcement of the provisions of the Senior Loan Agreement that
provide that Senior Lenders must ratably with all other Senior
Lenders any payments received on account of Senior Loan Claims,
regardless of the potential avoidance of Step Two Lender Claims
or any other remedies that may be found to apply to Senior Loan
Claims; provided that in the event:

  (i) the Court finds, in connection with confirmation of the
      Noteholder Plan, that the Senior Loan Sharing Provisions
      do not apply if Step Two Lender Claims are avoided;

(ii) the Court finds that the amendments contained in the
      Noteholder Plan that provide for the enforcement of the
      Senior Loan Sharing Provisions constitute a material
      modification requiring resolicitation of the Noteholder
      Plan; or

(iii) a determination of the enforceability of the Senior Loan
      Sharing Provisions is otherwise required, but not
      determined as of the Effective Date, the Senior Loan
      Sharing Provisions will not be enforced until the time as
      the enforceability of the Senior Loan Sharing Provisions
      is determined by a Final Order.  Until that Final Order is
      entered, any distributions otherwise allocable to the Step
      Two Lenders on account of the Senior Loan Sharing
      Provisions will be held in the Distribution Trust Reserve.

                      Initial Distributions

Initial Distributions to each Class of Claims will generally
represent a recovery assuming the resolution of all Trust Causes
of Action has the least favorable outcome vis-avis that Class.

Except for Initial Distributions to (i) Holders of Other
Guarantor Debtor Claims who will receive Cash equal to 8% of
their Allowed Other Guarantor Debtor Claim; (ii) Holders of Other
Non-Guarantor Debtor Claims, who will be paid in full, in Cash,
on their Allowed Claims; and (iii) Holders of Step One Senior
Lender Claims and Step Two Senior Lender Claims, who will receive
a distribution comprised of New Common Stock and/or New Warrants,
Initial Distributions to all Classes of Claims entitled to an
Initial Distribution will be comprised of a "Consideration Strip.
Holders of Other Parent Claims may receive an increased Cash-only
distribution under the Noteholder Plan.

A consideration strip consistes of a Pro Rata share of: (a) New
Common Stock and/or New Warrants; (b) the New Senior Secured Term
Loan; and (c) Distributable Cash.

In other amendments, the Noteholder Plan made clear that in any
document required to be filed with the Illinois Secretary of
State's office on or after the Effective Date and on or before
the date the Paid-in Capital Amounts are finally recorded on each
corporate Reorganized Debtor's financial statements, that
reduction will be made by good faith determination of the Article
XIII Paid-in Capital Amounts as of the close of business on the
Effective Date, after taking into account all of the transactions
contemplated by the Noteholder Plan.  To the extent a good faith
determination differs from the Article XIII Paid-in Capital
Amounts as finally recorded on any Reorganized Debtor's financial
statements, a statement of correction will be filed on Form BCA
1.15 to correct the good faith determination, together with
supporting documentation, which will consist of a copy of the
Reorganized Debtor's fresh start accounting certified
financial statements.

In addition, to the extent the Court determines that an
alteration, amendment or modification to the Noteholder Plan
requires resolicitation of the Noteholder Plan, the Proponents
will have the option, at their sole discretion, to inform the
Court and parties-in-interest that they will not seek to enforce
that alteration, amendment or modification and instead will
consummate the Noteholder Plan in the form previously filed on
February 25, 2011 with respect to those altered, amended or
modified provisions.

A full-text copy of the 2nd Amended Plan dated March 28, 2011 is
available for free at:

  http://bankrupt.com/misc/Tribune_Mar282ndAmPlan.pdf

A redlined version of the 2nd Amended Plan is available for free
at http://bankrupt.com/misc/Tribune_Mar282ndAmPlan_redline.pdf

                       About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection on Dec. 8, 2008 (Bankr. D. Del. Lead Case No. 08-
13141).  The Debtors proposed Sidley Austin LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North America LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.  Chadbourne & Parke LLP and
Landis Rath LLP serve as co-counsel to the Official Committee
of Unsecured Creditors.  AlixPartners LLP is the Committee's
financial advisor.  Landis Rath Moelis & Company serves as the
Committee's investment banker.  Thomas G. Macauley, Esq., at
Zuckerman Spaeder LLP, in Wilmington, Delaware, represents the
Committee in connection with the lawsuit filed against former
officers and shareholders for the 2007 LBO of Tribune.

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


TRIBUNE CO: Wins Approval to Pay D&O Defense Costs
--------------------------------------------------
Tribune Co. and its affiliates asked the Bankruptcy Court to lift
the automatic stay to allow payment and advancement by their
primary and excess directors and officers liability insurance
providers of past and future defense costs, fees and expenses
incurred by individual insured persons relating to:

  -- the adversary proceeding captioned The Official Committee
     of Unsecured Creditors of Tribune Company, on behalf of
     Tribune Company, et al., v. FitzSimons, et al., Adv. Proc.
     No. 10-54010; and

  -- individual lawsuits filed in the Debtors' cases to avoid
     allegedly preferential transfers to certain named
     defendants.

At the March 22 hearing, the Court granted Tribune Co.'s
conditioned upon "submission of information to the Official
Committee of Unsecured Creditors with respect to, on an ongoing
basis, what's been submitted for payment and what has been paid,
subject to applicable privileges."

Pursuant to the Court's directive at the hearing, counsel for the
Debtors, the Creditors' Committee, creditors Directors and
Officers and Samuel Zell negotiated a proposed order modifying
the automatic stay to allow payment of defense costs under the
D&O policy.

Norman L. Pernick, Esq., at Cole, Schotz, Meisel, Forman &
Leonard, P.A., in Wilmington, Delaware, certified that the
parties consent to entry of the proposed order, a full-text copy
of which available for free at:

      http://bankrupt.com/misc/Tribune_d&oproporder.pdf

Judge Carey signed the proposed order on March 29 and lifted the
automatic stay to the extent it applies to allow, without further
order of the Court, payment and advancement of excess directors
and officers liability insurance providers of past and future
defense costs, fees, and expenses incurred by individual insured
persons relating to:

  (i) the adversary proceeding captioned The Official Committee
      of Unsecured Creditors of Tribune Company, on behalf of
      Tribune Company, et al., v. FitzSimons, et al., Adv. Proc.
      No. 10-54010; and

(ii) individual lawsuits filed in the Debtors' Chapter 11 cases
      to avoid allegedly preferential transfers to certain named
      defendants.

Judge Carey overruled the Creditors' Committee's objection to the
Debtors' Motion.

Judge Carey clarified that nothing in the order will modify or
alter the rights and obligations provided for under the Insurance
Policies.  All parties to the Policies, including all Insureds
under the Policies, reserve all rights and defenses that they
would otherwise have.

The Individual Defendants will provide to counsel for the
Creditors' Committee certain information regarding the Lawsuits:

  * Subject to all applicable privileges, the Individual
    Defendants, through counsel for one designated Individual
    Defendant, will provide counsel to the Creditors' Committee,
    no more than 45 days after the close of each three-month
    calendar period while the FitzSimons Lawsuit or the
    Preference Lawsuits are pending, a joint report on behalf of
    all Individual Defendants summarizing: (a) the aggregate
    amount of fees and costs submitted for payment by all
    Individual Defendants to the Insurance Providers during the
    immediately preceding three-month period; and (b) the
    aggregate amount which the Insurance Providers have paid to
    or on behalf of all Individual Defendants through the end of
    the three-month period.

  * The first joint report will be provided no later than May 1,
    2011.  The joint report will provide information as to the
    fees and costs respectively for (1) the FitzSimons Lawsuit;
    and (2) the Preference Lawsuits as a group.  The joint
    report will not include any information which is subject to
    the attorney-client privilege or the attorney work product
    doctrine, or any other applicable privileges.

                       About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection on Dec. 8, 2008 (Bankr. D. Del. Lead Case No. 08-
13141).  The Debtors proposed Sidley Austin LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North America LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.  Chadbourne & Parke LLP and
Landis Rath LLP serve as co-counsel to the Official Committee
of Unsecured Creditors.  AlixPartners LLP is the Committee's
financial advisor.  Landis Rath Moelis & Company serves as the
Committee's investment banker.  Thomas G. Macauley, Esq., at
Zuckerman Spaeder LLP, in Wilmington, Delaware, represents the
Committee in connection with the lawsuit filed against former
officers and shareholders for the 2007 LBO of Tribune.

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


TRIBUNE CO: Court Expands Scope of E&Y Work as Tax Advisor
----------------------------------------------------------
The Bankruptcy Court granted Tribune Co.'s third supplemental
application to modify the scope of employment of Ernst & Young LLP
to include advisory services relating to sales and use tax and
personal property tax nunc pro tunc to February 17, 2011.  No
party objected to the Debtors' request.

The indemnification provisions of Ernst & Young's Engagement
Letters are approved, subject during the pendency of the
bankruptcy cases to certain conditions.  If before the earlier of
(i) entry of an order confirming a Chapter 11 plan, and (ii)
entry of an order closing the Debtors' Chapter 11 cases, Ernst &
Young believes it is entitled to the payment of any amounts by
the Debtors on account of the Debtors' indemnification,
contribution or reimbursement obligations, Ernst & Young must
file an application before the Court, and the Debtors may not pay
Ernst & Young before the entry of an order approving the payment.

                       About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection on Dec. 8, 2008 (Bankr. D. Del. Lead Case No. 08-
13141).  The Debtors proposed Sidley Austin LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North America LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.  Chadbourne & Parke LLP and
Landis Rath LLP serve as co-counsel to the Official Committee
of Unsecured Creditors.  AlixPartners LLP is the Committee's
financial advisor.  Landis Rath Moelis & Company serves as the
Committee's investment banker.  Thomas G. Macauley, Esq., at
Zuckerman Spaeder LLP, in Wilmington, Delaware, represents the
Committee in connection with the lawsuit filed against former
officers and shareholders for the 2007 LBO of Tribune.

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


USEC INC: John Donelson Disposes of 30,000 Common Shares
--------------------------------------------------------
In a Form 4 filing with the U.S. Securities and Exchange
Commission, John Donelson, V.P., Marketing and Sales at USEC Inc.,
disclosed that he disposed of 30,000 shares of common stock of the
Company on March 28, 2011, at $4.54 apiece.  At the end of the
transaction, Mr. Donelson beneficially owned 117,449 shares.

                           About USEC Inc.

Headquartered in Bethesda, Maryland, USEC Inc. (NYSE: USU) --
http://www.usec.com/-- supplies enriched uranium fuel for
commercial nuclear power plants.

The Company's balance sheet at Dec. 31, 2010 showed $3.84 billion
in total assets, $2.53 billion in total liabilities, and
$1.31 billion in stockholders' equity.

                           *     *     *

USEC Inc. carries 'Caa1' corporate and probability of default
ratings, with "developing" outlook, from Moody's, and 'CCC+' long
term foreign issuer credit rating and 'CCC-' long term local
issuer credit rating, with outlook "developing", from Standard &
Poor's.

In May 2010, S&P said that its rating and outlook on USEC Inc. are
not affected by the announcement that Toshiba Corp. and Babcock &
Wilcox Investment Co., an affiliate of The Babcock & Wilcox Co.,
have signed a definitive investment agreement for $200 million
with USEC.


W.R. GRACE: Committees, Firms Object to Garlock Plea for Documents
------------------------------------------------------------------
The Official Committees of Asbestos Claimants in the bankruptcy
cases of The Flintkote Company, W.R. Grace & Co., North American
Refractories Co. and Pittsburgh Corning Corp. and several law
firms object to Garlock Sealing Technologies, LLC's amended motion
for access to statements filed under Rule 2019 of the Federal
Rules of Bankruptcy Procedure.

The committees and the objecting law firms reiterate that Garlock
failed to articulate any actual financial or legal interest in the
bankruptcy cases that it seeks to intervene.  The law firms also
assert that Garlock's attempt to co-opt the indulgence sometimes
paid to the press in intervening to seek access to judicial
records is particularly inappropriate for a private litigant with
a partisan agenda.

The objecting law firms are:

  * Kazan, McClain, Lyons, Greenwood & Harley, Waters & Kraus
    LLP, Stanley, Mandel & Iola, L.L.P., Simmons Browder
    Gianaris Angelides & Barnerd LLC, Bergman, Draper & Frockt,
    Gori Julian & Associates, P.C., Early, Lucarelli, Sweeney &
    Strauss, Cooney & Conway, George & Sipes LLP, Lipsitz &
    Ponterio, LLC, Bifferato LLC, and Montgomery, McCracken,
    Walker & Rhoads, LLP, on their own behalf and on behalf of
    their predecessors; and

  * The Law Offices of Peter G. Angelos, P.C.; Baron & Budd,
    P.C.; Brayton Purcell, LLP; Hissey Kientz, LLP; The Lipman
    Law Firm; Reaud, Morgan & Quinn, Inc.; Thornton & Naumes,
    LLP; Waters & Kraus, LLP; Weitz & Luxenberg P.C.; and
    Williams Kherkher Hart Boundas, LLP.

                      About W.R. Grace & Co.

Headquartered in Columbia, Maryland, W.R. Grace & Co. (NYSE:GRA)
-- http://www.grace.com/-- supplies catalysts and silica
products, especially construction chemicals and building
materials, and container products globally.

The Company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2001 (Bankr. D. Del. Case No. 01-01139).
David M. Bernick, P.C., Esq., at Kirkland & Ellis, LLP, and
Laura Davis Jones, Esq., at Pachulski Stang Ziehl & Jones,
LLP, represent the Debtors in their restructuring effort.  The
Debtors hired Blackstone Group, L.P., for financial advice.
PricewaterhouseCoopers LLP is the Debtors' accountant.  Stroock
& Stroock & Lavan, LLP, and Duane Morris, LLP, represent the
Official Committee of Unsecured Creditors.  The Creditors
Committee tapped Capstone Corporate Recovery LLC for financial
advice.  David T. Austern, the legal representative of future
asbestos personal injury claimants, is represented by Orrick
Herrington & Sutcliffe LLP and Phillips Goldman & Spence, PA.
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, and Marla
R. Eskin, Esq., at Campbell & Levine, LLC, represent the Official
Committee of Asbestos Personal Injury Claimants.  The Asbestos
Committee of Property Damage Claimants tapped Scott Baena, Esq.,
and Jay M. Sakalo, Esq., at Bilzin Sumberg Baena Price & Axelrod,
LLP, to represent it.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel, LLP, represents the Official Committee of
Equity Security Holders.

W.R. Grace and its debtor affiliates, with the support of the
Official Committee of Asbestos Personal Injury Claimants, the
Asbestos PI Future Claimants' Representative and the Official
Committee of Equity Security Holders, have submitted a proposed
Chapter 11 plan of reorganization.  The Chapter 11 plan is built
around an April 2008 settlement for all present and future
asbestos personal injury claims, and a subsequent settlement for
asbestos property damage claims.  The Plan confirmation hearing
wrapped up on Jan. 25.

Bankruptcy Creditors' Service, Inc., publishes W.R. Grace
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by W.R. Grace, W.R. Grace Co. - Conn. and their
affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000)


W.R. GRACE: Court OKs Professional Fees for July to September
-------------------------------------------------------------
Bankruptcy Judge Judith Fitzgerald allowed the fee applications of
these professionals for the period from July 1 through September
30, 2010:

Professional                                    Fees    Expenses
------------                                    ----    --------
Anderson Kill & Olick, P.C.                 $522,461      $2,732
Janet S. Baer, P.C.                          368,962       3,371
Baker Donelson Bearman Caldwell
   & Berkowitz, P.C.                          60,000         111
Beveridge & Diamond, P.C.                     48,387         504
Bilzin Sumberg Dunn Baena Price
   & Axelrod LLP                               6,938       2,211
Blackstone Advisory Services L.P.            175,000       8,122
BMC Group                                     59,775       7,105
Campbell & Levine, LLC                        37,149       3,301
Caplin & Drysdale, Chartered                  31,924       2,988
Capstone Advisory Group, LLC                 161,303         498
Casner & Edwards LLP                          32,562      37,623
Charter Oak Financial Consulting LLC          29,189          46
Day Pitney LLP                                75,532          44
Duane Morris LLP                              20,520       1,182
Ferry Joseph & Pearce, P.A.                   26,451       1,713
Foley Hoag LLP                                27,671         133
Fragomen, Del Rey, Bernsen & Loewy LLP         4,850       1,695
The Hogan Firm                                57,079       2,676
Kirkland & Ellis LLP                         562,760      17,430
Kramer Levin Naftalis & Frankel LLP            5,229         131
Lincoln Partners Advisors LLC                165,000         451
Orrick, Herrington & Sutcliffe LLP           321,026       4,390
Pachulski Stang Ziehl & Jones LLP             88,098      85,816
PricewaterhouseCoopers LLP                   712,554      12,626
Reed Smith LLP                                18,657         971
Alan B. Rich                                  23,460         511
Hon. Alexander M. Sanders, Jr.                   450          30
Saul Ewing LLP                                32,623         412
Warren H. Smith & Associates, P.C.            45,116       3,433
Steptoe & Johnson LLP                         11,840          15
Stroock & Stroock & Lavan LLP                 69,080         627
Towers Watson                                  4,153           0
Woodrock Washburn LLP                         14,731         591
Lauzon Belanger Lesperance                   C$7,075     C$1,456
Ogilvy Renault LLP                          C$12,294       C$280
Scarfone Hawkins LLP                        C$33,730     C$5,817

Judge Fitzgerald also allowed the payment of $52,126 for Holme
Roberts & Owen, LLP's fees and reimbursement of $3,434 for the
firm's expenses for the period January to March 2010.

Warren H. Smith, the fee auditor, also submitted a project
category summary of professional fees for the June to September
2010 quarter.  A schedule is available for free at:

      http://bankrupt.com/misc/grace38pcs.pdf

                      About W.R. Grace & Co.

Headquartered in Columbia, Maryland, W.R. Grace & Co. (NYSE:GRA)
-- http://www.grace.com/-- supplies catalysts and silica
products, especially construction chemicals and building
materials, and container products globally.

The Company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2001 (Bankr. D. Del. Case No. 01-01139).
David M. Bernick, P.C., Esq., at Kirkland & Ellis, LLP, and
Laura Davis Jones, Esq., at Pachulski Stang Ziehl & Jones,
LLP, represent the Debtors in their restructuring effort.  The
Debtors hired Blackstone Group, L.P., for financial advice.
PricewaterhouseCoopers LLP is the Debtors' accountant.  Stroock
& Stroock & Lavan, LLP, and Duane Morris, LLP, represent the
Official Committee of Unsecured Creditors.  The Creditors
Committee tapped Capstone Corporate Recovery LLC for financial
advice.  David T. Austern, the legal representative of future
asbestos personal injury claimants, is represented by Orrick
Herrington & Sutcliffe LLP and Phillips Goldman & Spence, PA.
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, and Marla
R. Eskin, Esq., at Campbell & Levine, LLC, represent the Official
Committee of Asbestos Personal Injury Claimants.  The Asbestos
Committee of Property Damage Claimants tapped Scott Baena, Esq.,
and Jay M. Sakalo, Esq., at Bilzin Sumberg Baena Price & Axelrod,
LLP, to represent it.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel, LLP, represents the Official Committee of
Equity Security Holders.

W.R. Grace and its debtor affiliates, with the support of the
Official Committee of Asbestos Personal Injury Claimants, the
Asbestos PI Future Claimants' Representative and the Official
Committee of Equity Security Holders, have submitted a proposed
Chapter 11 plan of reorganization.  The Chapter 11 plan is built
around an April 2008 settlement for all present and future
asbestos personal injury claims, and a subsequent settlement for
asbestos property damage claims.  The Plan confirmation hearing
wrapped up on Jan. 25.

Bankruptcy Creditors' Service, Inc., publishes W.R. Grace
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by W.R. Grace, W.R. Grace Co. - Conn. and their
affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000)


W.R. GRACE: Implements Price Increases in Darex Business
--------------------------------------------------------
Grace Davison, an operating segment of W. R. Grace & Co. (NYSE:
GRA), has announced that effective April 1, 2011, it is
implementing price increases of up to 20% across its Darex
packaging business within the Materials Technologies product line.
The products include can sealants, can coatings and closure
compounds.  This move is in response to significant raw material
cost increases.  Surging petrochemical olefins demand and
tightening supply are causing increased costs for key raw
materials used in many Grace products, including: latexes,
rubbers, resin, pigments, and hydrocarbon solvents.  This pricing
action is in addition to specific product price increases already
implemented in 2011.

"This price increase is necessary to meet inflationary pressures,
while continuing to maintain investment in developing leading-edge
technology to meet our customers' needs," said Robin F. Pearce,
Global Vice President and General Manager, Grace Davison Materials
and Packaging Technologies.  "We will continue to provide our
customers with high-performing products and premier technical
service that enable our customers to improve the quality and
integrity of their packaging products," he added.

                     About Grace Davison

Grace Davison is the global leader for can sealants, can coatings
and closure compounds, offering solutions-oriented approaches
backed by a broad, highly differentiated portfolio and industry-
leading technical service. Grace Davison's research leadership and
flexible manufacturing system support value-added technology
tailored to meet customers' current and future needs.

                      About W.R. Grace & Co.

Headquartered in Columbia, Maryland, W.R. Grace & Co. (NYSE:GRA)
-- http://www.grace.com/-- supplies catalysts and silica
products, especially construction chemicals and building
materials, and container products globally.

The Company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2001 (Bankr. D. Del. Case No. 01-01139).
David M. Bernick, P.C., Esq., at Kirkland & Ellis, LLP, and
Laura Davis Jones, Esq., at Pachulski Stang Ziehl & Jones,
LLP, represent the Debtors in their restructuring effort.  The
Debtors hired Blackstone Group, L.P., for financial advice.
PricewaterhouseCoopers LLP is the Debtors' accountant.  Stroock
& Stroock & Lavan, LLP, and Duane Morris, LLP, represent the
Official Committee of Unsecured Creditors.  The Creditors
Committee tapped Capstone Corporate Recovery LLC for financial
advice.  David T. Austern, the legal representative of future
asbestos personal injury claimants, is represented by Orrick
Herrington & Sutcliffe LLP and Phillips Goldman & Spence, PA.
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, and Marla
R. Eskin, Esq., at Campbell & Levine, LLC, represent the Official
Committee of Asbestos Personal Injury Claimants.  The Asbestos
Committee of Property Damage Claimants tapped Scott Baena, Esq.,
and Jay M. Sakalo, Esq., at Bilzin Sumberg Baena Price & Axelrod,
LLP, to represent it.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel, LLP, represents the Official Committee of
Equity Security Holders.

W.R. Grace and its debtor affiliates, with the support of the
Official Committee of Asbestos Personal Injury Claimants, the
Asbestos PI Future Claimants' Representative and the Official
Committee of Equity Security Holders, have submitted a proposed
Chapter 11 plan of reorganization.  The Chapter 11 plan is built
around an April 2008 settlement for all present and future
asbestos personal injury claims, and a subsequent settlement for
asbestos property damage claims.  The Plan confirmation hearing
wrapped up on Jan. 25.

Bankruptcy Creditors' Service, Inc., publishes W.R. Grace
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by W.R. Grace, W.R. Grace Co. - Conn. and their
affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000)


XIOM CORP: Files for Chapter 7 Liquidation
------------------------------------------
Xiom Corp., a subsidiary of Environmental Infrastructure Holdings
Corp., filed, on March 25, 2011, a petition in the United States
Bankruptcy Court District of Delaware under Chapter 7 of the
United States Bankruptcy Code requesting liquidation of the assets
and liabilities of Xiom Corp.  As of the filing, Xiom had
estimated assets of $340,745 and liabilities of $4,044,878.

West Conshohocken, Pa.-based Environmental Infrastructure Holdings
Corp. is the parent company of various environmental
manufacturing, engineering and services companies.  Currently the
company has two wholly owned subsidiaries in Equisol, LLC and Xiom
Corp.


XODTEC LED: Restates Quarterly Reports for 2010
-----------------------------------------------
Xodtec Led, Inc., filed with the U.S. Securities and Exchange
Commission an Amendment No. 3 to its quarterly reports on Form
10-Q/A for the periods ended May 31, 2010, Aug. 31, 2010, and Nov.
30, 2010.

The amendments reflect changes in the financial statements and
Item 2 "Management's Discussion and Analysis of Financial
Condition and Results of Operations" only to the extent that they
relate to the treatment as derivative securities and warrants that
had not previously been treated as derivative securities.

A full-text copy of the amended quarterly report the period ended
May 31, 2010, as amended on March 23, 2011, is available for free
at http://is.gd/U49zCF

A full-text copy of the amended Form 10-Q for the quarter ended
Aug. 31, 2010, is available for free at http://is.gd/ZBBx5D

A full-text copy of the amended Form 10-Q for the quarter ended
Nov. 30, 2010, is available for free at http://is.gd/XMdvyp

The Company's restated balance sheet at Nov. 30, 2010 showed
$2.06 million in total assets, $3.47 million in total liabilities
and $1.41 million in total stockholders' deficit.

During the nine months ended Nov. 30, 2010, the Company incurred a
negative gross profit of approximately $97,000, an operating loss
of approximately $2.3 million and a net loss of approximately
$472,000 and the Company used $1.4 million in its operating
activities.

                          About Xodtec LED

Headquartered in Jhonghe City, 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.; 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.


* S&P: Fewer Firms Defaulted in 2010 as Markets Stabilized
-------------------------------------------------------
Following a year of record-setting highs in terms of global
corporate default statistics, 2010 provided the markets with a
noticeable reversal, according to the default studies published
March 30 by Standard & Poor's Global Fixed Income Research.

"In 2010, 81 global corporate issuers defaulted, down from the
record high of 265 in 2009.  None of the 81 defaulters began
the year rated investment grade," said Diane Vazza, head of
Standard & Poor's Global Fixed Income Research. "The debt
amount affected by these defaults fell to $95.7 billion,
also considerably lower than in 2009."

In addition, although distressed exchanges still featured
prominently in 2010 as a default type, accounting for 28.4% of
defaults globally, missed interest or principal payments
claimed a third of the total, according to the article, titled
"2010 Annual Global Corporate Default Study And Rating
Transitions."

Along with a decline in the number of defaults, credit
stability -- and even improvement -- increased in 2010.  There
were 1.36 upgrades for every downgrade, while the proportion of
unchanged ratings reached 72.7%, a six-year high.  Also, the
average number of notches recorded among downgrades fell in
2010 to 1.52 from 1.76 the previous year.

"At the end of December 2010, speculative-grade default rates
fell to 3.27% in the U.S., compared with 1.03% in Europe, 1.23%
in the emerging markets, and 7.82% in an assorted grouping of
other developed markets," said Ms. Vazza.  "In all regions,
default rates in 2010 fell relative to 2009.  When including
all rated entities, the global default rate fell to 1.14% in
2010 from 4.04% a year earlier."

For more details about regional defaults and rating
transitions, see "2010 Annual U.S. Corporate Default Study And
Rating Transitions," "2010 Annual European Corporate Default
Study And Rating Transitions," and "2010 Annual Asian Corporate
Default Study And Rating Transitions," all published March 30.

As the incidence of default fell dramatically compared with the
heights of the credit crisis in 2009, the one-year Gini ratio--
a key measure of the relative ability of ratings to
differentiate risk -- rose for a third consecutive year, to
90.1% in 2010.  This is the fourth-highest level in the
30-year history of the database and higher than the one-year
average of 84%.

All of Standard & Poor's default studies have found a clear
correlation between ratings and defaults: The higher the
rating, the lower the observed frequency of default, and vice
versa. Over each time span, lower ratings correspond to higher
default rates.  This is also true when the data are broken out
separately by rating or by region.

For details about the global corporate defaulters in 2010, see
"2010 Default Synopses," also published March 30.


* Liner Grode Stein Hires Brian D. Kilb as Partner
--------------------------------------------------
Liner Grode Stein Yankelevitz Sunshine Regenstreif & Taylor LLP
announced that Brian D. Kilb will join the firm as a partner on
April 1, 2011.  Mr. Kilb was previously a partner at Gibson Dunn &
Crutcher in the Corporate Transactions and Global Finance Groups.
His practice focuses primarily on media and entertainment, health
care, gaming, technology, lodging and real estate.

Mr. Kilb represents private equity and other borrowers, as well as
investment and commercial banks in leveraged acquisition
financings and other secured and unsecured senior, mezzanine and
subordinated loan transactions, second-lien financings, asset
securitizations and other financing transactions, troubled debt
restructurings and pre-bankruptcy workouts, and in connection with
equity and debt derivatives.  In addition, he represents issuers
and underwriters in registered, 144A and private debt capital
markets transactions, including issuance of convertible
instruments.  He regularly counsels boards of directors and
executive management in regard to transactional strategy,
structure and issues, and fiduciary obligations.

Stuart Liner, founder and managing partner at Liner Grode Stein
commented, "Brian is a great strategic hire. His addition to the
team demonstrates our commitment to continuing to expand our
Corporate Practice. Our clients will greatly benefit from Brian's
business acumen and high level experience."

Joshua Grode, head of the Corporate department at Liner Grode
Stein commented, "We are excited to have an attorney of Brian's
caliber join the firm. His expertise is a welcomed addition to our
department and clients."

Mr. Kilb received his B.S. from Cornell University in 1980 and his
J.D. from Harvard Law School in 1983.

                       About Liner Grode Stein

Liner Grode Stein -- http://www.linerlaw.com/-- is a full-service
firm offering broad expertise in litigation, complex business
matters, entertainment, intellectual property, real estate, white-
collar crime, products liability, toxic tort, corporate finance
and mergers & acquisitions. Our attorneys represent clients
throughout the country and internationally via the Los Angeles and
San Francisco offices.


* InCharge Education to Exhibit at a Consumer Bankruptcy Seminar
----------------------------------------------------------------
Nonprofit bankruptcy services showcased at 2nd Annual Consumer
Bankruptcy Institute, April 1, 2011.

InCharge Education Foundation, one of the nation's leading
nonprofit organizations devoted to personal financial literacy,
will be showcasing its Pre-Filing Credit Counseling, Pre-Discharge
Debtor Education courses and its services to consumer bankruptcy
attorneys at the 2nd Annual Consumer Bankruptcy Institute in
Plymouth, Michigan, April 1, 2011.  InCharge is also one of the
event sponsors.

According to the Associated Press (AP), "Lower unemployment and
bankruptcies helped reduce the nation's economic stress in January
compared with a year earlier. Still the figures show the economy
has yet to regain full health."  The AP calculates a "stress
score" from 1-100 based on a combination of unemployment,
foreclosure and bankruptcy rates. While Nevada ranked first, "the
next-most-stressed states in January [2011] were California
(16.72), Florida (16.36), Arizona (15.27) and Michigan (14.86).
Michigan returned to the list after being displaced by Georgia in
December."

"Certainly, many states are still facing economic struggles and
bankruptcies are very much a reality for many consumers," said
Beth Mason, InCharge's Director of Outreach Programs for
Bankruptcy Services.  "The Bankruptcy Abuse Prevention and
Consumer Protection Act of 2005, or BAPCPA, requires debtors to
complete both Pre-Filing Credit Counseling and Pre-Discharge
Debtor Education courses, of which InCharge provided 330,000
during 2010 alone."

Attorneys and anyone seeking a reliable and professional source
for consumer bankruptcy courses are encouraged to visit the
InCharge booth at this event.

For more information, contact InCharge Education Foundation
bankruptcy service at 866-729-0049 or visit
http://www.PersonalFinanceEducation.com.

                About InCharge(R) Education Foundation

InCharge(R) Education Foundation, Inc. (ICEF) is a national
501(c)(3) non-profit organization dedicated to providing
educational products, services and research supporting the
personal financial literacy of consumers across America. ICEF also
provides financial literacy training to servicemembers and their
families through MilitaryMoney.com.  ICEF is affiliated with
InCharge(R) Debt Solutions, Inc., a 501(c)(3) non-profit
organization specializing in personal finance education, housing
counseling and credit counseling.  InCharge Debt Solutions
interacted with over 1.2 million consumers in 2010 alone. ICEF
develops and provides a variety of innovative personal finance
tools, web-based educational programs & financial calculators, to
meet the financial needs of consumers.  InCharge Debt Solutions is
a member of the Association of Independent Consumer Credit
Counseling Agencies (AICCCA) and is accredited by the Council on
Accreditation (COA).


* Recent Small-Dollar & Individual Chapter 11 Filings
-----------------------------------------------------

In Re Papa's Catfish Buffet, LLC
   Bankr. E.D. Ark. Case No. 11-11744
      Chapter 11 Petition filed March 17, 2011
         See http://bankrupt.com/misc/areb11-11744.pdf

In Re Tre Nightclub, LLC
        aka Tre Nightclub
   Bankr. E.D. Calif. Case No. 11-26615
      Chapter 11 Petition filed March 17, 2011
         See http://bankrupt.com/misc/caeb11-26615p.pdf
         See http://bankrupt.com/misc/caeb11-26615c.pdf

In Re Pontillo Concord Group LLC
   Bankr D. Conn. Case No. 11-30655
      Chapter 11 Petition filed March 17, 2011
         filed pro se

In Re Chancey Radiator Service of Bartow, Inc.
   Bankr. M.D. Fla. Case No. 11-04837
      Chapter 11 Petition filed March 17, 2011
         See http://bankrupt.com/misc/flmb11-04837.pdf

In Re Farooqi Farm, LLC
   Bankr. N.D. Ill. Case No. 11-11237
      Chapter 11 Petition filed March 17, 2011
         See http://bankrupt.com/misc/ilnb11-11237.pdf

In Re Bicycle Village, LLC
   Bankr. E.D. Mich. Case No. 11-20969
      Chapter 11 Petition filed March 17, 2011
         See http://bankrupt.com/misc/mieb11-20969p.pdf
         See http://bankrupt.com/misc/mieb11-20969c.pdf

In Re 1618 Bergenline Avenue, LLC
   Bankr. D. N.J. Case No. 11-17940
      Chapter 11 Petition filed March 17, 2011
         See http://bankrupt.com/misc/njb11-17940.pdf

In Re Snowman Cafe Inc.
   Bankr W.D. Pa. Case No. 11-21546
      Chapter 11 Petition filed March 17, 2011
         filed pro se

In Re Segura Bros Enterprises, Inc.
   Bankr. N.D. Texas. Case No. 11-31807
      Chapter 11 Petition filed March 17, 2011
         See http://bankrupt.com/misc/txnb11-31807.pdf

In Re The Midas Touch, LLC
   Bankr. E.D. Va. Case No. 11-11878
      Chapter 11 Petition filed March 17, 2011
         See http://bankrupt.com/misc/vaeb11-11878.pdf

In Re Fa Milt, LLC
   Bankr. W.D. Wash. Case No. 11-42024
      Chapter 11 Petition filed March 17, 2011
         See http://bankrupt.com/misc/wawb11-42024.pdf

In Re Olympic Peninsula Development Co LLC
   Bankr W.D. Wash. Case No. 11-12986
      Chapter 11 Petition filed March 17, 2011
         filed pro se

In Re Signatrol, Inc.
   Bankr. C.D. Ill. Case No. 11-90469
      Chapter 11 Petition filed March 18, 2011
         See http://bankrupt.com/misc/ilcb11-90469.pdf

In Re Second Chance Development LLC
   Bankr. N.D. Ill. Case No. 11-11473
      Chapter 11 Petition filed March 18, 2011
         See http://bankrupt.com/misc/ilnb11-11473.pdf

In Re Campbell 2005, LLC
   Bankr. S.D. Ill. Case No. 11-60112
      Chapter 11 Petition filed March 18, 2011
         See http://bankrupt.com/misc/ilsb11-60112.pdf

In Re Smithfield Realty, LLC
   Bankr. D. N.H. Case No. 11-11003
      Chapter 11 Petition filed March 18, 2011
         See http://bankrupt.com/misc/nhb11-11003.pdf

In Re McJeric Delivery Service, LLC
        dba Mahwah Movers
        dba Vernon Movers
        dba Morris County Movers
        dba Boxes and More...
   Bankr. D. N.J. Case No. 11-18189
      Chapter 11 Petition filed March 18, 2011
         See http://bankrupt.com/misc/njb11-18189.pdf

In Re Claverack Enterprises, Inc.
   Bankr. N.D.N.Y. Case No. 11-10789
      Chapter 11 Petition filed March 18, 2011
         See http://bankrupt.com/misc/nynb11-10789.pdf

In Re M.C. Painting Corporation
   Bankr. E.D. Pa. Case No. 11-12054
      Chapter 11 Petition filed March 18, 2011
         See http://bankrupt.com/misc/paeb11-12054.pdf

In Re Pearl Management Corporation
   Bankr. E.D. Mich. Case No. 11-47422
      Chapter 11 Petition filed March 18, 2011
         See http://bankrupt.com/misc/mieb11-47422.pdf

In Re Jama & Associate, LLC
        dba Che Restaurant & Bar
        dba Mr. Big's
        dba Kindal's
   Bankr. N.D. Texas. Case No. 11-31832
      Chapter 11 Petition filed March 18, 2011
         See http://bankrupt.com/misc/txnb11-31832.pdf

In Re Stalin, LLC
   Bankr. D. Md. Case No. 11-15610
      Chapter 11 Petition filed March 18, 2011
         See http://bankrupt.com/misc/mdb11-15610.pdf

In Re Thomas DQ, Inc.
   Bankr. E.D. Pa. Case No. 11-20676
      Chapter 11 Petition filed March 18, 2011
         See http://bankrupt.com/misc/paeb11-20676.pdf

In Re Timothy M. Spears DDS, Incorporated
   Bankr. S.D. W.Va. Case No. 11-20211
      Chapter 11 Petition filed March 18, 2011
         See http://bankrupt.com/misc/wvsb11-20211.pdf

In Re David Kreitzer
   Bankr. C.D. Calif. Case No. 11-19039
      Chapter 11 Petition filed March 21, 2011

In Re Greater South Bay Area Home Health, Inc.
   Bankr. C.D. Calif. Case No. 11-21933
      Chapter 11 Petition filed March 21, 2011
         See http://bankrupt.com/misc/cacb11-21933.pdf

In Re Palm Glades Rural Health Associates, Inc.
   Bankr. S.D. Fla. Case No. 11-17267
      Chapter 11 Petition filed March 21, 2011
         See http://bankrupt.com/misc/flsb11-17267.pdf

In Re Grafax, Inc.
   Bankr. D. Mass. Case No. 11-41061
      Chapter 11 Petition filed March 21, 2011
         See http://bankrupt.com/misc/mab11-41061.pdf

In Re S&Z International, LLC
   Bankr. E.D. Mich. Case No. 11-47581
      Chapter 11 Petition filed March 21, 2011
         See http://bankrupt.com/misc/mieb11-47581.pdf

In Re 35 Orange Street, LLC
   Bankr. D. N.H. Case No. 11-11032
      Chapter 11 Petition filed March 21, 2011
         See http://bankrupt.com/misc/nhb11-11032.pdf

In Re Evergreen Commercial Real Estate Broker, Inc.
        dba Evergreen Commercial Real Estate
   Bankr. D. N.J. Case No. 11-18367
      Chapter 11 Petition filed March 21, 2011
         See http://bankrupt.com/misc/njb11-18367.pdf

In Re H & C Leasing, LLC
   Bankr. M.D. Tenn. Case No. 11-02867
      Chapter 11 Petition filed March 21, 2011
         See http://bankrupt.com/misc/tnmb11-02867.pdf

In Re Kids View Zaragosa Center LLC
   Bankr. W.D. Texas Case No. 11-30530
      Chapter 11 Petition filed March 21, 2011
         See http://bankrupt.com/misc/txwb11-30530.pdf

In Re UKEP Montwood Campus LLC
      Bankr. W.D. Texas Case No. 11-30531
         Chapter 11 Petition filed March 21, 2011
            See http://bankrupt.com/misc/txwb11-30531.pdf

In Re Experience Food Project LLC
   Bankr. W.D. Wash. Case No. 11-13149
      Chapter 11 Petition filed March 21, 2011
         See http://bankrupt.com/misc/wawb11-13149.pdf

In Re Pavlaw Inc.
   Bankr. W.D. Wash. Case No. 11-13150
      Chapter 11 Petition filed March 21, 2011
         See http://bankrupt.com/misc/wawb11-13150.pdf

In Re Dugout, LLC
   Bankr. C.D. Calif. Case No. 11-13520
      Chapter 11 Petition filed March 22, 2011
         See http://bankrupt.com/misc/cacb11-13520.pdf

In Re El Lavadero, LLC
   Bankr. C.D. Calif. Case No. 11-11306
      Chapter 11 Petition filed March 22, 2011
         See http://bankrupt.com/misc/cacb11-11306.pdf

In Re Eagle Recovery, Inc.
   Bankr. M.D. Fla. Case No. 11-05101
      Chapter 11 Petition filed March 22, 2011
         See http://bankrupt.com/misc/flmb11-05101.pdf

In Re 406 Willard Street LLC
   Bankr. D. Mass. Case No. 11-12380
      Chapter 11 Petition filed March 22, 2011
         See http://bankrupt.com/misc/mab11-12380p.pdf
         See http://bankrupt.com/misc/mab11-12380c.pdf

In Re JBS Properties of Becker, LLC
   Bankr. D. Minn. Case No. 11-41911
      Chapter 11 Petition filed March 22, 2011
         See http://bankrupt.com/misc/mnb11-41911.pdf

In Re Andersen Perez Associates, Inc.
        dba Kiddie Academy of East Setauket, NY
   Bankr. E.D.N.Y. Case No. 11-71743
      Chapter 11 Petition filed March 22, 2011
         See http://bankrupt.com/misc/nyeb11-71743.pdf

In Re Thunder Road II
        dba Kwiker Liquor
   Bankr. N.D. Ala. Case No. 11-01598
      Chapter 11 Petition filed March 23, 2011
         See http://bankrupt.com/misc/alnb11-01598.pdf

In Re 7658 Pleasant Run, LLC
   Bankr D. Ariz. Case No. 11-07585
      Chapter 11 Petition filed March 23, 2011
         filed pro se

In Re Diversified Transportation, Inc.
   Bankr. D. Ariz. Case No. 11-07563
      Chapter 11 Petition filed March 23, 2011
         See http://bankrupt.com/misc/azb11-07563.pdf

In Re William Steiniger
   Bankr. D. Ariz. Case No. 11-07663
      Chapter 11 Petition filed March 23, 2011

In Re Sarjit Sanghera
   Bankr. E.D. Calif. Case No. 11-13270
      Chapter 11 Petition filed March 23, 2011

In Re Robert Butler
   Bankr. N.D. Calif. Case No. 11-52686
      Chapter 11 Petition filed March 23, 2011

In Re Grace Bhairo
   Bankr. N.D. Calif. Case No. 11-43164
      Chapter 11 Petition filed March 23, 2011

In Re 1243 Good Hope Rd, LLC
   Bankr. D. D.C. Case No. 11-00222
      Chapter 11 Petition filed March 23, 2011
         See http://bankrupt.com/misc/dcb11-00222.pdf

In Re Apostolic Assemblies of Jesus Christ Inc.
   Bankr. M.D. Fla. Case No. 11-02018
      Chapter 11 Petition filed March 23, 2011
         See http://bankrupt.com/misc/flmb11-02018.pdf

In Re Ian Johnston
   Bankr. S.D. Ind. Case No. 11-03242
      Chapter 11 Petition filed March 23, 2011

In Re Sonya Roberts
   Bankr. E.D. Mo. Case No. 11-42660
      Chapter 11 Petition filed March 23, 2011

In Re YKM, LLC
   Bankr. D. Nev. Case No. 11-14094
      Chapter 11 Petition filed March 23, 2011
         See http://bankrupt.com/misc/nvb11-14094.pdf

   In Re Cedar Flat, LLC
     Bankr. D. Nev. Case No. 11-14095
        Chapter 11 Petition filed March 23, 2011
           See http://bankrupt.com/misc/nvb11-14095.pdf

      In Re Silver Crew, LLC
         Bankr. D. Nev. Case No. 11-14097
            Chapter 11 Petition filed March 23, 2011
               See http://bankrupt.com/misc/nvb11-14097.pdf

         In Re Dragon Rock, LLC
            Bankr. D. Nev. Case No. 11-14100
               Chapter 11 Petition filed March 23, 2011
                  See http://bankrupt.com/misc/nvb11-14100.pdf

In Re Shy, Inc.
        dba Sono Japanese Restaurant
   Bankr. D. N.J. Case No. 11-18722
      Chapter 11 Petition filed March 23, 2011
         See http://bankrupt.com/misc/njb11-18722.pdf

In Re Fulvio Veloz
   Bankr. E.D.N.Y. Case No. 11-42298
      Chapter 11 Petition filed March 23, 2011

In Re Gordon's Auto Body, Inc.
   Bankr. S.D.N.Y. Case No. 11-35750
      Chapter 11 Petition filed March 23, 2011
         See http://bankrupt.com/misc/nysb11-35750.pdf

In Re Stamatis & Duble, LLC
        dba Peter Geyer Steakhouse
   Bankr. W.D.N.Y. Case No. 11-20503
      Chapter 11 Petition filed March 23, 2011
         See http://bankrupt.com/misc/nywb11-20503.pdf

In Re J. Douglass Jennings
   Bankr. S.D. Calif. Case No. 11-04720
      Chapter 11 Petition filed March 24, 2011

In Re Robert Hall
   Bankr. N.D. Ala. Case No. 11-40779
      Chapter 11 Petition filed March 24, 2011

In Re Enrico Laos
   Bankr. D. Ariz. Case No. 11-07828
      Chapter 11 Petition filed March 24, 2011

In Re Ronald Koenigsfeld
   Bankr. D. Ariz. Case No. 11-07851
      Chapter 11 Petition filed March 24, 2011

In Re Michael Waldman
   Bankr. C.D. Calif. Case No. 11-14157
      Chapter 11 Petition filed March 24, 2011

In Re Balvir Chand
   Bankr. N.D. Calif. Case No. 11-43187
      Chapter 11 Petition filed March 24, 2011

In Re Eric Frazier
   Bankr. C.D. Calif. Case No. 11-19512
      Chapter 11 Petition filed March 24, 2011

In Re Zabiullah Mohammadi
   Bankr. N.D. Calif. Case No. 11-43188
      Chapter 11 Petition filed March 24, 2011

In Re McPub, LLC
        dba Fionn MacCool's Irish Pub & Restaurant
   Bankr. M.D. Fla. Case No. 11-02063
      Chapter 11 Petition filed March 24, 2011
         See http://bankrupt.com/misc/flmb11-02063.pdf

In Re Moultrie Bluff Plaza, LLC
   Bankr. M.D. Fla. Case No. 11-02049
      Chapter 11 Petition filed March 24, 2011
         See http://bankrupt.com/misc/flmb11-02049.pdf

In Re New Plantation Point Project, LLC
   Bankr. M.D. Fla. Case No. 11-02048
      Chapter 11 Petition filed March 24, 2011
         See http://bankrupt.com/misc/flmb11-02048.pdf

In Re Patricia Mason
   Bankr. S.D. Fla. Case No. 11-17757
      Chapter 11 Petition filed March 24, 2011

In Re Sparkling Property Maintenance Services
   Bankr N.D. Ga. Case No. 11-58865
      Chapter 11 Petition filed March 24, 2011
         filed pro se

In Re Blanca Campos
   Bankr. N.D. Ill. Case No. 11-81200
      Chapter 11 Petition filed March 24, 2011

In Re Anne Reddington
   Bankr. D. Mass. Case No. 11-12446
      Chapter 11 Petition filed March 24, 2011

In Re Grande Vista, LLC
   Bankr. D. Md. Case No. 11-16040
      Chapter 11 Petition filed March 24, 2011
         See http://bankrupt.com/misc/mdb11-16040p.pdf
         See http://bankrupt.com/misc/mdb11-16040c.pdf

In Re Ronnie Swift
   Bankr. D. Neb. Case No. 11-80717
      Chapter 11 Petition filed March 24, 2011

In Re Sabina Tobogacz
   Bankr. D. Nev. Case No. 11-14171
      Chapter 11 Petition filed March 24, 2011

In Re John Wilcox
   Bankr. D. Ore. Case No. 11-32393
      Chapter 11 Petition filed March 24, 2011

In Re RJH and Company Inc.
        aka Richard Harley
   Bankr M.D. Pa. Case No. 11-02060
      Chapter 11 Petition filed March 24, 2011
         filed pro se

In Re Bentworth Ambulance Service, Inc.
   Bankr. W.D. Pa. Case No. 11-21741
      Chapter 11 Petition filed March 24, 2011
         See http://bankrupt.com/misc/pawb11-21741p.pdf
         See http://bankrupt.com/misc/pawb11-21741c.pdf

In Re WE Deliver Corp.
   Bankr. D. Puerto Rico Case No. 11-02438
      Chapter 11 Petition filed March 24, 2011
         See http://bankrupt.com/misc/prb11-02438.pdf

In Re Paul Broyles
   Bankr. E.D. Tenn. Case No. 11-31395
      Chapter 11 Petition filed March 24, 2011

In Re Best Dog Gone Sports Bar LLC
   Bankr S.D. Texas Case No. 11-32455
      Chapter 11 Petition filed March 24, 2011
         filed pro se

In Re Ismail Arslangiray
   Bankr. W.D. Wash. Case No. 11-42290
      Chapter 11 Petition filed March 24, 2011

In Re Mountaineer Wellness, Inc.
   Bankr. N.D. W.Va. Case No. 11-00494
      Chapter 11 Petition filed March 24, 2011
         See http://bankrupt.com/misc/wvnb11-00494.pdf

In Re David Efron
   Bankr. D. Puerto Rico Case No. 11-02466
      Chapter 11 Petition filed March 25, 2011

In Re David Whitney
   Bankr. D. Ariz. Case No. 11-07986
      Chapter 11 Petition filed March 25, 2011

In Re Ella Tunnell
   Bankr. S.D. Ind. Case No. 11-03444
      Chapter 11 Petition filed March 25, 2011

In Re Behyar Fariba
   Bankr. S.D. Calif. Case No. 11-04785
      Chapter 11 Petition filed March 25, 2011

In Re Gregory Jones
   Bankr. C.D. Calif. Case No. 11-22829
      Chapter 11 Petition filed March 25, 2011

In Re Illiyun Ivar
   Bankr. C.D. Calif. Case No. 11-19822
      Chapter 11 Petition filed March 25, 2011

In Re Isaac Bakar
   Bankr. S.D. Fla. Case No. 11-17862
      Chapter 11 Petition filed March 25, 2011

In Re James Stamper
   Bankr. E.D. Ky. Case No. 11-50868
      Chapter 11 Petition filed March 25, 2011

In Re Lolonis Winery
   Bankr. N.D. Calif. Case No. 11-43235
      Chapter 11 Petition filed March 25, 2011

In Re Marjorie Hodges
   Bankr. C.D. Calif. Case No. 11-19749
      Chapter 11 Petition filed March 25, 2011

In Re Michael Thomas
   Bankr. W.D. Ark. Case No. 11-71389
      Chapter 11 Petition filed March 25, 2011

In Re Randal Vigil
   Bankr. C.D. Calif. Case No. 11-14230
      Chapter 11 Petition filed March 25, 2011
In Re Sam Sidhu
   Bankr. C.D. Calif. Case No. 11-22826
      Chapter 11 Petition filed March 25, 2011

In Re Susanne Richardson
   Bankr. C.D. Calif. Case No. 11-14228
      Chapter 11 Petition filed March 25, 2011

In Re William Hamilton
   Bankr. D. Colo. Case No. 11-16280
      Chapter 11 Petition filed March 25, 2011

In Re 2029 Taft, LLC
   Bankr. S.D. Fla. Case No. 11-17950
      Chapter 11 Petition filed March 25, 2011
         See http://bankrupt.com/misc/flsb11-17950.pdf

In Re 6757 S. Evans, LLC
   Bankr. N.D. Ill. Case No. 11-12455
      Chapter 11 Petition filed March 25, 2011
         See http://bankrupt.com/misc/ilnb11-12455.pdf

In Re Any Brand Appliance Repair
   Bankr. E.D. Va. Case No. 11-12168
      Chapter 11 Petition filed March 25, 2011
         See http://bankrupt.com/misc/vaeb11-12168.pdf


In Re Dressed 4 Drinks, LLC
   Bankr. E.D. Ky. Case No. 11-50889
      Chapter 11 Petition filed March 25, 2011
         See http://bankrupt.com/misc/kyeb11-50889.pdf

In Re Gregory Franklin Services LLC
   Bankr M.D. Pa. Case No. 11-02075
      Chapter 11 Petition filed March 25, 2011
         filed pro se

In Re Hotel Development, LLC
   Bankr. W.D. Tenn. Case No. 11-23122
      Chapter 11 Petition filed March 25, 2011
         See http://bankrupt.com/misc/tnwb11-23122.pdf

In Re Mags Original's Pizza, Inc.
        ta Original's Pizza & Subs
   Bankr. D. N.J. Case No. 11-18882
      Chapter 11 Petition filed March 25, 2011
         See http://bankrupt.com/misc/njb11-18882.pdf

In Re Moffitt Restoration Services, Inc.
         fka Moffitt Construction Co.
   Bankr. E.D. Va. Case No. 11-50555
      Chapter 11 Petition filed March 25, 2011
         See http://bankrupt.com/misc/vaeb11-50555.pdf

In Re Prudential Information Corporation
        aka Call Centers 24x7
        aka 24x7 Answering Service
        aka 24Seven CC
        aka 24Seven Call Center
   Bankr. W.D. Wash. Case No. 11-13411
      Chapter 11 Petition filed March 25, 2011
         See http://bankrupt.com/misc/wawb11-13411.pdf

In Re Synergistic Process Management, LLC
   Bankr. W.D. Texas Case No. 11-30562
      Chapter 11 Petition filed March 25, 2011
         See http://bankrupt.com/misc/txwb11-30562p.pdf
         See http://bankrupt.com/misc/txwb11-30562c.pdf

In Re Kuhn Mechanical, Inc.
   Bankr. D. Kan. Case No. 11-10765
      Chapter 11 Petition filed March 26, 2011
         See http://bankrupt.com/misc/ksb11-10765.pdf

In Re Ferrell Gilbert
   Bankr. N.D. Ill. Case No. 11-12578
      Chapter 11 Petition filed March 26, 2011

In Re Ruben Sanchez
   Bankr. C.D. Calif. Case No. 11-22996
      Chapter 11 Petition filed March 26, 2011

In Re Budget Door Inc.
   Bankr. S.D. Ohio Case No. 11-53137
      Chapter 11 Petition filed March 28, 2011
         See http://bankrupt.com/misc/ohsb11-53137.pdf

In Re Dance Orlando, LLC
   Bankr. M.D. Fla. Case No. 11-04325
      Chapter 11 Petition filed March 28, 2011
         See http://bankrupt.com/misc/flmb11-04325.pdf

In Re Embarcadero Commercial LLC
   Bankr. N.D. Calif. Case No. 11-43307
      Chapter 11 Petition filed March 28, 2011
         See http://bankrupt.com/misc/canb11-43307p.pdf
         See http://bankrupt.com/misc/canb11-43307c.pdf

In Re Heartland Mold & Tool, Inc.
   Bankr. N.D. Texas Case No. 11-41725
      Chapter 11 Petition filed March 28, 2011
         See http://bankrupt.com/misc/txnb11-41725.pdf

In Re Legal Xtranet, Inc.
        dba elumicor
   Bankr. W.D. Texas Case No. 11-51042
      Chapter 11 Petition filed March 28, 2011
         See http://bankrupt.com/misc/txwb11-51042.pdf

In Re London, LLC
   Bankr. E.D. Va. Case No. 11-32020
      Chapter 11 Petition filed March 28, 2011
         See http://bankrupt.com/misc/vaeb11-32020.pdf

In Re PanAm HIFU, LLC
   Bankr. M.D. Fla. Case No. 11-05569
      Chapter 11 Petition filed March 28, 2011
         See http://bankrupt.com/misc/flmb11-05569p.pdf
         See http://bankrupt.com/misc/flmb11-05569c.pdf

In Re Smith Marine Designs, LLC
   Bankr. S.D. Fla. Case No. 11-18076
      Chapter 11 Petition filed March 28, 2011
         See http://bankrupt.com/misc/flsb11-18076p.pdf
         See http://bankrupt.com/misc/flsb11-18076c.pdf

In Re Sugar Heaven Sunset LLC
   Bankr. S.D. Fla. Case No. 11-18038
      Chapter 11 Petition filed March 28, 2011
         See http://bankrupt.com/misc/flsb11-18038.pdf

In Re Teng K, Inc.
        dba Via Dei Mille
        dba K Sushi
   Bankr. S.D. N.Y. Case No. 11-11369
      Chapter 11 Petition filed March 28, 2011
         See http://bankrupt.com/misc/nysb11-11369.pdf

In Re World Wide Development Group, Inc.
   Bankr. W.D. La. Case No. 11-50425
      Chapter 11 Petition filed March 28, 2011
         See http://bankrupt.com/misc/lawb11-50425.pdf


In Re Bobby Moskop
   Bankr. W.D. Mo. Case No. 11-60609
      Chapter 11 Petition filed March 28, 2011

In Re David Whyte
      Karen Whyte
   Bankr. N.D. Ohio Case No. 11-51143
      Chapter 11 Petition filed March 28, 2011

In Re Douglas Rowe
   Bankr. E.D. N.Y. Case No. 11-71959
      Chapter 11 Petition filed March 28, 2011

In Re Greg Contos
   Bankr. N.D. Ill. Case No. 11-12760
      Chapter 11 Petition filed March 28, 2011

In Re Stephen Kreticos
   Bankr. D. Mass. Case No. 11-12614
      Chapter 11 Petition filed March 28, 2011

In Re Scott Cook
   Bankr. D. Utah Case No. 11-24224
      Chapter 11 Petition filed March 28, 2011

In Re Ty Thompson
   Bankr. D. Nev. Case No. 11-14349
      Chapter 11 Petition filed March 28, 2011


In Re 7th Street Building, Inc.
   Bankr. S.D. Fla. Case No. 11-18159
      Chapter 11 Petition filed March 29, 2011
         See http://bankrupt.com/misc/flsb11-18159p.pdf
         See http://bankrupt.com/misc/flsb11-18159c.pdf

In Re American West Laundry Distributors, Inc.
   Bankr. W.D. Texas Case No. 11-51045
      Chapter 11 Petition filed March 28, 2011
         See http://bankrupt.com/misc/txwb11-51045.pdf

In Re Capital EMS Healthcare, Inc.
   Bankr S.D. Texas Case No. 11-32553
      Chapter 11 Petition filed March 29, 2011
         filed pro se

In Re DC Bicycle Stations, LLC
        dba Bicycle Station, LLC
        dba Bicycle Stations
   Bankr. E.D. Va. Case No. 11-12295
      Chapter 11 Petition filed March 29, 2011
         See http://bankrupt.com/misc/vaeb11-12295.pdf

In Re Paula's Towing, Inc.
   Bankr. D. Mass. Case No. 11-12643
      Chapter 11 Petition filed March 29, 2011
         See http://bankrupt.com/misc/mab11-12643.pdf

In Re Restaurant Development Association, Inc.
        aka RDA, Inc.
   Bankr. M.D. Fla. Case No. 11-05672
      Chapter 11 Petition filed March 29, 2011
         See http://bankrupt.com/misc/flmb11-05672p.pdf
         See http://bankrupt.com/misc/flmb11-05672c.pdf

   In Re RDATJF 1001 LLC
      Bankr. M.D. Fla. Case No. 11-05674
         Chapter 11 Petition filed March 29, 2011

      In Re RDATGF 1002, LLC
         Bankr. M.D. Fla. Case No. 11-05676
            Chapter 11 Petition filed March 29, 2011

         In Re RDA TFlats 1003, LLC
            Bankr. M.D. Fla. Case No. 11-05680
               Chapter 11 Petition filed March 29, 2011

            In Re RDAS 41231, LLC
               Bankr. M.D. Fla. Case No. 11-05681
                  Chapter 11 Petition filed March 29, 2011

               In Re RDAS, 01748ZH, L.C.
                  Bankr. M.D. Fla. Case No. 11-05682
                     Chapter 11 Petition filed March 29, 2011

In Re Texas Rustic, Inc.
        dba Rustic Outlet #1 (Oklahoma City, OK)
        dba Rustic Outlet #2 (Conroe, TX)
        dba Rustic Outlet #5 (Longview, TX)
   Bankr. S.D. Texas Case No. 11-32563
      Chapter 11 Petition filed March 29, 2011
         See http://bankrupt.com/misc/txsb11-32563.pdf

In Re Barry Cooksey
   Bankr. W.D. Ark. Case No. 11-71436
      Chapter 11 Petition filed March 29, 2011

In Re C. Barnes
   Bankr. E.D. Ark. Case No. 11-12036
      Chapter 11 Petition filed March 29, 2011

In Re Charbel Fahed
   Bankr. D. Md. Case No. 11-16399
      Chapter 11 Petition filed March 29, 2011

In Re Corby Marshall
   Bankr. M.D. Fla. Case No. 11-02215
      Chapter 11 Petition filed March 29, 2011

In Re Earl Madsen
   Bankr. D. Wyo. Case No. 11-20314
      Chapter 11 Petition filed March 29, 2011

In Re Manuel Saenz
      Arlene Saenz
   Bankr. D. Colo. Case No. 11-16622
      Chapter 11 Petition filed March 29, 2011

In Re Michael Demerjian
   Bankr. D. Mass. Case No. 11-12634
      Chapter 11 Petition filed March 29, 2011

In Re Roger Chase
   Bankr. D. Wyo. Case No. 11-20311
      Chapter 11 Petition filed March 29, 2011

In Re Runo Mohnsen
   Bankr. D. Neb. Case No. 11-40871
      Chapter 11 Petition filed March 29, 2011

In Re Stephen Johnson
   Bankr. C.D. Calif. Case No. 11-23378
      Chapter 11 Petition filed March 29, 2011

In Re Steven St. Denny
   Bankr. N.D. Calif. Case No. 11-31180
      Chapter 11 Petition filed March 29, 2011

In Re Tony Ward
   Bankr. W.D. Okla. Case No. 11-11496
      Chapter 11 Petition filed March 29, 2011

In Re Vernon Summers
   Bankr. M.D. Tenn. Case No. 11-03154
      Chapter 11 Petition filed March 29, 2011



                           *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers"
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.


                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors" Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Howard
C. Tolentino, Joseph Medel C. Martirez, Denise Marie Varquez,
Philline Reluya, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R.
Villacampa, Sheryl Joy P. Olano, Carlo Fernandez, Christopher G.
Patalinghug, and Peter A. Chapman, Editors.

Copyright 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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