TCR_Public/110430.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

            Saturday, April 30, 2011, Vol. 14, No. 118

                            Headlines

ALABAMA AIRCRAFT: Has $1.89 Million Net Loss in March 2011
BANKUNITED FINANCIAL: Reports $189,184 Net Income in March
CAPITAL GROWTH: Posts $1.7 Million Net Loss in February
CATHOLIC CHURCH: Milwaukee Has $1.17MM Cash Receipts in February
CATHOLIC CHURCH: Milwaukee Has $4.93MM Cash Receipts in March

COLONIAL BANCGROUP: Posts $435.65 Net Income in March 2011
CONSTAR INT'L: Reports $3.2 Million Net Loss in March 2011
ICOP DIGITAL: Ends March 2011 With $533,929 Cash
INTERNATIONAL GARDEN: Reports $495,622 Net Income in March
LTV CORP: Ends March 2011 With $5,925,000 Cash

MAJESTIC STAR: Posts $3.0 Million Net Loss in February
NEC HOLDINGS: Reports $885,500 Net Income in February
SHARPER IMAGE: Posts $88,797 Net Loss in March 2011


                            *********




ALABAMA AIRCRAFT: Has $1.89 Million Net Loss in March 2011
----------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Alabama Aircraft Industries Inc.'s operating report
for March showed a $1.63 million net loss on sales of
$1.89 million.  The cost of sales in the month was $2.82 million.
Alabama Aircraft projects running out of cash by July at the
latest.  It has been unable to attract financing for its Chapter
11 case.

                      About Alabama Aircraft

Alabama Aircraft Industries Inc. --
http://www.alabamaaircraft.com/-- provides aircraft maintenance
and modification services for the U.S. government and military
customers.  Its 190-acre facility, including its corporate
offices, is located at the Birmingham International Airport in
Birmingham, Alabama.  The Company currently has 92 salaried
employees and 234 hourly employees.  About 251 hourly employees
were furloughed since Jan. 1, 2010.

Alabama Aircraft filed for Chapter 11 bankruptcy protection
(Bankr. D. Del. Case No. 11-10452) on Feb. 15, 2011.  Two
subsidiaries also filed -- Alabama Aircraft Industries, Inc.-
Birmingham (Case No. 11-10453) and Pemco Aircraft Engineering
Services, Inc. (Case No. 11-10454).

The Company said that the primary goal of the Chapter 11 filing is
to address long-term indebtedness and, in particular, long-term
pension obligations under the terms of its pension plan.  The
Company said it would likely cease operations by April 15,
2011, absent the elimination of its obligations under the pension
plan.  The Company owes $68.5 million to the Pension Benefit
Guaranty Corp.

Joel A. Waite, Esq., and Kenneth J. Enos, Esq., at Young, Conaway,
Stargatt & Taylor, in Wilmington, Delaware, serve as counsel to
the Debtors.

Alabama Aircraft estimated assets and debts of $1 million to
$10 million as of the Chapter 11 filing.


BANKUNITED FINANCIAL: Reports $189,184 Net Income in March
----------------------------------------------------------
BankUnited Financial Corporation, together with its subsidiaries
BankUnited Financial Services, Inc., and CRE America Corporation,
filed on April 21, 2011, its monthly operating report for March
2011 with the United States Bankruptcy Court for the Southern
District of Florida.

Funds at March 31, 2011, were roughly $11.8 million compared to
roughly $12.0 million at Feb. 28, 2011.

BankUnited Financial Corporation, et al., reported net income of
$189,184 on total income of $390 for the period.

At Mar. 31, 2011, BankUnited Financial Corporation, et al., had
$36.7 million in total assets, $576.8 million in total
liabilities, and a stockholders' deficit of $540.1 million.

The March 2011 monthly operating report is available at no
charge at http://is.gd/cGo23P

                   About BankUnited Financial

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

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

In its bankruptcy petition, BankUnited Financial Corp. disclosed
$37,729,520 in assets against $559,740,185 in debts.  Aside from
those assets, BankUnited said that a "valuable" asset is its
$3.6 billion net operating loss carryforward.

Wilmington Trust Co., U.S. Bank, N.A., and the Bank of New York
were listed among the company's largest unsecured creditors in
their roles as trustees for security issues.  BankUnited estimated
the Bank of New York claim tied to convertible securities at
$184 million.  U.S. Bank and Wilmington Trust are owed
$120 million and $118.171 million on account of senior notes.


CAPITAL GROWTH: Posts $1.7 Million Net Loss in February
-------------------------------------------------------
Capital Growth Systems, Inc., reported a consolidated net loss of
$1.7 million on $4.4 million of revenues for the month of
February 2011.

The Debtor's balance sheet at Feb. 28, 2011, showed $27.2 million
in total assets, $65.0 million in total liabilities, and a
stockholders' deficit of $37.8 million.  The Debtor ended
February 2011 with $1,458,230 in cash.

A complete text of the February 2011 monthly operating report is
available for free at http://is.gd/Ybzc6s

                      About Capital Growth

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

Capital Growth Systems and its affiliates filed for Chapter 11
protection on.  The lead debtor is Global Capacity Holdco LLC
(Bankr. D. Del. Case No. 10-12302).  Global Capacity Group Inc.
estimated $10 million to $50 million in assets and debts in its
petition.

The Bankruptcy Court on Jan. 27, 2011, approved the sale of
substantially all of the assets of Global Capacity to Pivotal
Global Capacity, LLC, or its subsidiary, GC Pivotal, LLC, an
affiliate of Pivotal Group, Inc.  Pivotal had previously acquired
100% of the secured debt of Global Capacity.


CATHOLIC CHURCH: Milwaukee Has $1.17MM Cash Receipts in February
----------------------------------------------------------------

                   Archdiocese of Milwaukee
                Statement of Financial Position
                    As of February 28, 2011

Current Assets
Cash and cash equivalents                           $2,925,321
Short-term investments                               5,533,273
Accounts receivables                                 5,202,167
Notes receivable                                       828,392
Other Assets                                         1,335,012
                                                     ----------
    Total Current Assets                             15,824,166

Ground burial & mausoleum crypt sites                 6,167,868
Property and equipment, net                           4,891,156

Investments and Other Assets
Long-term investments                               12,732,196
Cemeteries Pre-Need Trust Fund Acct                  3,201,582
Charitable gift annuities invest.                      732,955
Other Assets                                           315,470
                                                     ----------
Total Investments and Other Assets                  16,982,205
                                                     ----------
                                                    $43,865,396
    TOTAL ASSETS                                     ==========


Current Liabilities
Current maturities of charitable
    gift annuities                                            -
Accounts payable                                       719,152
Accrued expenses                                     1,378,846
Contributions payable C.S.A.                         2,657,224
                                                     ----------
Total Current Liabilities                            4,755,222

Deferred revenue                                      3,212,340

Prepetition Debt
Accrued post-retirement and
    pension benefits                                 14,862,955
Contractual contributions payable                    2,760,769
Pre-Chapter 11 payables                                517,653
Note payable                                         4,650,000
Charitable gift annuities                              580,768
                                                     ----------
                                                     23,372,146
                                                     ----------
Total Liabilities                                   31,339,709

Unclassified - Prepetition Operations                  500,858
Unclassified - postpetition Operations              (2,352,979)

Unrestricted - Current Year                                  -
Unrestricted - Prior Year                            1,566,138
                                                     ----------
Total Undesignated operating (deficit)               1,566,138

Designated Current Year                                      -
Designated Prior Year                                6,480,976
                                                     ----------
Total Designated                                     6,480,976
                                                     ----------
Total Unrestricted                                   8,047,115

Temporarily restricted Current Year                          -
Temporarily restricted Prior Year                    2,614,326
                                                     ----------
Total Temporarily Restricted                         2,614,326

Permanently restricted Current Year                          -
Permanently restricted Prior Year                    3,716,366
                                                     ----------
Total Permanently Restricted                         3,716,366
                                                     ----------
Total Net Assets                                    12,525,686
                                                     ----------
Total Liabilities and Net Assets                   $43,865,396
                                                     ==========

Invested funds held for others totaled $2,853,249.


                   Archdiocese of Milwaukee
                    Statement of Activities
            For the month ending February 28, 2011

CHANCERY
Support and Revenue
Contributions                                         $284,910
Parish assessments                                      (4,744)
Parish assessments adj. to budget                            -
Tuition and fees                                        42,110
Activities and programs                                  3,306
Miscellaneous revenues                                  40,607
Net assets released from restrictions                        -
                                                     ----------
Total Support and Revenue                              366,191

CHANCERY OPERATING EXPENSES
Payroll and fringe benefits                            551,869
Maintenance, insurance, utility costs                   83,168
Travel and education                                     8,617
Supplies and services                                  161,065
Assessments                                                  -
Purchased services                                     204,650
Professional services                                  147,525
Charity and donations                                  284,515
Miscellaneous expenses                                  56,632
Pension related changes other than NPPC                      -
                                                     ----------
Total Operating Expenses                             1,498,045

Chancery income before fixed assets,                ----------
    non-operations gain (loss), and                  (1,131,854)
    extraordinary expense

FIXED ASSETS
Fixed asset purchases                                        -
Depreciation expense                                   (17,880)
Impairment of leasehold improvements                         -
Gain(loss) on sale of property and
    equipment, net                                            -
                                                     ----------
Total Fixed Asset Expense (Income)                     (17,880)

NON-OPERATING ACTIVITIES
Investment income                                       95,005
Net realized gains(losses)                                (417)
Net unrealized gains(losses)                           (31,979)
Interest expense                                       (18,987)
Other non-operating revenues(expenses)                       -
                                                     ----------
Total non-operating activities                          43,620
                                                     ----------
Extraordinary events, net                                    -
                                                     ----------
Chancery net gain(loss)                              (1,106,114)

Reimbursed operations net gain(loss)                     (2,732)
                                                     ----------
Change in net assets before cumulative               (1,108,846)
effect and cemetery operations

Cumulative effect of change in                                -
accounting principle
                                                     ----------
Chancery change in net assets                        (1,108,846)

Cemetery operations
Cemetery gain(loss)                                   (148,431)
                                                     ----------
Cemetery change in net assets                          (148,431)
                                                     ----------
Total change in net assets                          ($1,257,277)
                                                     ==========


                   Archdiocese of Milwaukee
                         Cash Receipts
            For the month ending February 28, 2011

Receipt Category
Contributions                                         $297,498
Assessments                                                  -
Tuition and fees                                        43,611
Cemetery cash receipts/transfers                       390,140
Investment income                                            -
Realized gains                                               -
Gains on sales and fixed assets                              -
Miscellaneous revenues                                  20,915
Clearing                                                 3,793
A/R & N/R payments                                     410,494
                                                     ----------
Total Receipts                                      $1,166,454

Notes: Funds transferred in from other
     Archdiocesan accounts                           $3,174,388
     Funds held for others                                    -
                                                     ==========


                   Archdiocese of Milwaukee
                      Cash Disbursements
            For the month ending February 28, 2011

Disbursements Category
Salary and wages                                      $396,711
Payroll taxes                                          149,338
Employee benefits                                       62,386
Employee withholdings                                   44,607
Facility and operating                                  84,596
Travel and education                                    16,832
Supplies                                               155,101
Assessments                                                  -
Purchased services                                     161,680
Legal                                                        -
Professional                                                 -
Grants                                                 281,402
Interest and bank fees                                  20,172
Other                                                   65,739
Reimbursed expense                                      43,152
Clearing                                                54,057
Fee assistance                                             175
                                                     ----------
Total Disbursements                                 $1,535,953

Notes: Funds transferred in from other
     Archdiocesan accounts                           $2,774,388
     Funds held for others                               $3,783
                                                     ==========

              About the Archdiocese of Milwaukee

The Diocese of Milwaukee was established on November 28, 1843, and
was elevated to an Archdiocese on February 12, 1875, by Pope Pius
IX.  The region served by the Archdiocese consists of 4,758 square
miles in southeast Wisconsin, which includes counties Dodge, Fond
du Lac, Kenosha, Milwaukee, Ozaukee, Racine, Sheboygan, Walworth,
Washington and Waukesha.  There are 657,519 registered Catholics
in the Region.

The Catholic Archdiocese of Milwaukee, in Wisconsin, filed for
Chapter 11 bankruptcy protection (Bankr. E.D. Wisc. Case No.
11-20059) on Jan. 4, 2011, to address claims over sexual abuse
by priests on minors.

The Archdiocese became at least the eighth Roman Catholic diocese
in the U.S. to file for bankruptcy to settle claims from current
and former parishioners who say they were sexually molested by
priests.

Daryl L. Diesing, Esq., at Whyte Hirschboeck Dudek S.C., in
Milwaukee, Wisconsin, serves as the Archdiocese's counsel.  The
Official Committee of Unsecured Creditors in the bankruptcy case
has retained Pachulski Stang Ziehl & Jones LLP as its counsel, and
Howard, Solochek & Weber, S.C., as its local counsel.

The Archdiocese estimated assets and debts of $10 million to
$50 million in its Chapter 11 petition.

(Catholic Church Bankruptcy News; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000)


CATHOLIC CHURCH: Milwaukee Has $4.93MM Cash Receipts in March
-------------------------------------------------------------

                   Archdiocese of Milwaukee
                Statement of Financial Position
                     As of March 31, 2011

Current Assets
  Cash and cash equivalents                          $6,261,672
  Short-term investments                              5,335,086
  Accounts receivables                                4,344,568
  Notes receivable                                      823,392
  Other Assets                                          620,477
  Prepaid Expenses                                      710,000
                                                     ----------
     Total Current Assets                            18,095,196

Ground burial & mausoleum crypt sites                 6,127,018
Property and equipment, net                           4,849,524

Investments and Other Assets
  Long-term investments                              12,694,918
  Cemeteries Pre-Need Trust Fund Acct                 3,204,153
  Charitable gift annuities invest.                     731,358
  Other Assets                                          315,470
                                                     ----------
  Total Investments and Other Assets                 16,945,901
                                                     ----------
                                                    $46,017,640
     TOTAL ASSETS                                    ==========


Current Liabilities
  Current maturities of charitable
     gift annuities                                           -
  Accounts payable                                      329,930
  Accrued expenses                                    1,426,332
  Chapter 11 expenses                                   621,911
  Contributions payable C.S.A.                        2,657,224
                                                     ----------
  Total Current Liabilities                           5,035,398

Deferred revenue                                      3,204,178

Prepetition Debt
  Accrued post-retirement and
     pension benefits                                14,862,955
  Contractual contributions payable                   2,760,769
  Pre-Chapter 11 payables                               602,943
  Note payable                                        4,650,000
  Charitable gift annuities                             580,768
                                                     ----------
                                                     23,457,436
                                                     ----------
  Total Liabilities                                  31,697,013

  Unclassified - Prepetition Operations                 500,858
  Unclassified - postpetition Operations               (558,039)

  Unrestricted - Current Year                                 -
  Unrestricted - Prior Year                           1,566,138
                                                     ----------
  Total Undesignated operating (deficit)              1,566,138

  Designated Current Year                                     -
  Designated Prior Year                               6,480,976
                                                     ----------
  Total Designated                                    6,480,976
                                                     ----------
  Total Unrestricted                                  8,047,115

  Temporarily restricted Current Year                         -
  Temporarily restricted Prior Year                   2,614,326
                                                     ----------
  Total Temporarily Restricted                        2,614,326

  Permanently restricted Current Year                         -
  Permanently restricted Prior Year                   3,716,366
                                                     ----------
  Total Permanently Restricted                        3,716,366
                                                     ----------
  Total Net Assets                                   14,320,627
                                                     ----------
  Total Liabilities and Net Assets                  $46,017,640
                                                     ==========

Note: Invested funds held for others totaled $2,846,942.


                   Archdiocese of Milwaukee
                    Statement of Activities
              For the month ending March 31, 2011

CHANCERY
Support and Revenue
  Contributions                                      $2,765,409
  Parish assessments                                          -
  Parish assessments adj. to budget                           -
  Tuition and fees                                       58,384
  Activities and programs                                 1,738
  Miscellaneous revenues                                 68,851
  Net assets released from restrictions                       -
                                                     ----------
  Total Support and Revenue                           2,894,385

CHANCERY OPERATING EXPENSES
  Payroll and fringe benefits                           587,689
  Maintenance, insurance, utility costs                  47,471
  Travel and education                                   10,668
  Supplies and services                                  91,708
  Assessments                                                 -
  Purchased services                                    197,051
  Professional services                                 325,777
  Charity and donations                                 267,458
  Miscellaneous expenses                                 67,890
  Pension related changes other than NPPC                     -
                                                     ----------
  Total Operating Expenses                            1,595,716

  Chancery income before fixed assets,               ----------
     non-operations gain (loss), and                  1,298,668
     extraordinary expense

FIXED ASSETS
  Fixed asset purchases                                       -
  Depreciation expense                                  (17,880)
  Impairment of leasehold improvements                        -
  Gain(loss) on sale of property and
     equipment, net                                           -
                                                     ----------
  Total Fixed Asset Expense (Income)                    (17,880)

NON-OPERATING ACTIVITIES
  Investment income                                       8,620
  Net realized gains(losses)                             14,235
  Net unrealized gains(losses)                           (4,173)
  Interest expense                                      (30,307)
  Other non-operating revenues(expenses)                      -
                                                     ----------
  Total non-operating activities                        (11,624)
                                                     ----------
  Extraordinary events, net                                   -
                                                     ----------
Chancery net gain(loss)                               1,269,163

Reimbursed operations net gain(loss)                    (18,629)
                                                     ----------
Change in net assets before cumulative                1,250,533
  effect and cemetery operations

Cumulative effect of change in                                -
  accounting principle
                                                     ----------
Chancery change in net assets                         1,250,533

Cemetery operations
  Cemetery gain(loss)                                   544,406
                                                     ----------
Cemetery change in net assets                           544,406
                                                     ----------
Total change in net assets                           $1,794,940
                                                     ==========


                   Archdiocese of Milwaukee
                         Cash Receipts
              For the month ending March 31, 2011

Receipt Category
  Contributions                                      $2,756,288
  Assessments                                                 -
  Tuition and fees                                       57,486
  Cemetery cash receipts/transfers                      560,052
  Investment income                                           -
  Realized gains                                              -
  Gains on sales and fixed assets                             -
  Miscellaneous revenues                                546,124
  Clearing                                               74,843
  A/R & N/R payments                                    943,266
                                                     ----------
  Total Receipts                                     $4,938,061

Notes: Funds transferred in from other
      Archdiocesan accounts                          $2,254,917
      Funds held for others                                   -
                                                     ==========

                   Archdiocese of Milwaukee
                      Cash Disbursements
              For the month ending March 31, 2011

Disbursements Category
  Salary and wages                                     $397,719
  Payroll taxes                                         152,544
  Employee benefits                                     357,377
  Employee withholdings                                  39,690
  Facility and operating                                118,048
  Travel and education                                   15,152
  Supplies                                               83,163
  Assessments                                                 -
  Purchased services                                    192,829
  Legal                                                       -
  Professional                                                -
  Grants                                                283,561
  Interest and bank fees                                 23,964
  Other                                                  51,268
  Reimbursed expense                                     40,914
  Clearing                                               70,357
  Fee assistance                                              -
                                                     ----------
  Total Disbursements                                $1,826,589

Notes: Funds transferred in from other
      Archdiocesan accounts                          $1,954,917
      Funds held for others                             $15,592
                                                     ==========

              About the Archdiocese of Milwaukee

The Diocese of Milwaukee was established on November 28, 1843, and
was elevated to an Archdiocese on February 12, 1875, by Pope Pius
IX.  The region served by the Archdiocese consists of 4,758 square
miles in southeast Wisconsin which includes counties Dodge, Fond
du Lac, Kenosha, Milwaukee, Ozaukee, Racine, Sheboygan, Walworth,
Washington and Waukesha.  There are 657,519 registered Catholics
in the Region.

The Catholic Archdiocese of Milwaukee, in Wisconsin, filed for
Chapter 11 bankruptcy protection (Bankr. E.D. Wisc. Case No.
11-20059) on Jan. 4, 2011, to address claims over sexual abuse
by priests on minors.

The Archdiocese became at least the eighth Roman Catholic diocese
in the U.S. to file for bankruptcy to settle claims from current
and former parishioners who say they were sexually molested by
priests.

Daryl L. Diesing, Esq., at Whyte Hirschboeck Dudek S.C., in
Milwaukee, Wisconsin, serves as the Archdiocese's counsel.  The
Official Committee of Unsecured Creditors in the bankruptcy case
has retained Pachulski Stang Ziehl & Jones LLP as its counsel, and
Howard, Solochek & Weber, S.C., as its local counsel.

The Archdiocese estimated assets and debts of $10 million to
$50 million in its Chapter 11 petition.

(Catholic Church Bankruptcy News; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000)


COLONIAL BANCGROUP: Posts $435.65 Net Income in March 2011
----------------------------------------------------------
BankruptcyData.com reports that Colonial BancGroup filed with the
U.S. Bankruptcy Court a monthly operating report for March 2011.
For the period, the Company reported $435.65 in income on total
expenses of $550,746.95.  The Company further reported the payment
of $483,365.07 in professional fees during the period, with a
total of $7.8 million paid in professional fees since the
Chapter 11 proceedings commenced in August 2009.

                    About The Colonial BancGroup

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

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

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

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


CONSTAR INT'L: Reports $3.2 Million Net Loss in March 2011
----------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Constar International Inc. filed an operating report
last week showing a $3.2 million net loss in March for the U.S.
operations.  Operating income was $2 million on net sales of
$32.6 million.  Reorganization expenses in the month were
$1 million.

                  About Constar International

Philadelphia, Pennsylvania-based Constar International Inc. --
http://www.constar.net/-- produces and supplies polyethylene
terephthalate plastic containers for food and beverages.

Constar filed for Chapter 11 protection in December 2008 (Bankr.
D. Del. Lead Case No. 08-13432), with a pre-negotiated Chapter 11
plan.  The plan, which reduced Constar's debt load by roughly
$175 million, became effective on May 29, 2009.  Attorneys at
Bayard P.A., and Wilmer Cutler Pickering Hale and Dorr LLP
represented the Debtor in the case.

Due to operating losses caused by a significant decline in demand
for its products from Pepsi-Cola Advertising and Marketing Inc.
and other customers, Constar and its affiliates returned to
Chapter 11 protection on Jan. 11, 2011 (Bankr. D. Del. Case No.
11-10109), with a Chapter 11 plan negotiated with holders of 75%
of the holders of $220 million in senior secured floating-rate
notes.

Andrew Goldman, Esq., and Dennis Jenkins, Esq., at Wilmer Cutler
Pickering Hale and Dorr LLP, serve as the Debtors' general
bankruptcy counsel.  Jamie Lynne Edmonson, Esq., and Neil B.
Glassman, Esq., at Bayard, P.A., serve as co-counsel to the
Debtors.  PricewaterhouseCoopers serves as the Debtors'
independent auditors and accountants.  Kurtzman Carson Consultants
LLC serves as the Debtors' claims agent.

The Debtors disclosed $418 million in total assets and
$414 million in total debts as of Sept. 30, 2010.

Constar filed for Chapter 11 protection with a pre-arranged
debt-for-equity exchange, expected to be completed by mid-2011.
The Company and holders of more than 75% of its senior secured
floating- rate notes agreed on a restructuring plan that would
reduce debt by as much as $150 million.


ICOP DIGITAL: Ends March 2011 With $533,929 Cash
------------------------------------------------
On April 21, 2011, ICOP Digital Inc., filed with the U.S.
Bankruptcy Court for the District of Kansas a monthly operating
report for the month of March 2011.

The Debtor reported a net loss of $2.7 million on $0 revenue for
the period.

The Debtor ended the period with $533,929 cash.  Payment for
professional fees totaled $94,052 in March.

A full-text copy of the March 2011 monthly operating report is
available for free at http://is.gd/o3nHEj

                         About ICOP Digital

Founded in 2002, ICOP Digital Inc. sells surveillance equipment
for law enforcement agencies.  Lenexa, Kansas-based ICOP Digital
filed for Chapter 11 protection in Kansas City (Bankr. D. Kan.
Case No. 11-20140) on Jan. 21, 2011.  In its schedules, the Debtor
disclosed assets of $1.67 million and debt of $2.74 million.  The
balance sheet as of Sept. 30, 2010, had assets on the books for
$6.7 million and total debts of $4.3 million.  Joanne B. Stutz,
Esq., at Evans & Mullinix PA, in Shawnee, Kansas, serves as the
Debtor's bankruptcy counsel.

The Debtor has been renamed as of March 14, 2011, to Digital
Systems, Inc.


INTERNATIONAL GARDEN: Reports $495,622 Net Income in March
----------------------------------------------------------
International Garden Products, Inc., et al., reported net income
of $495,622 on $7.5 million of total sales for March 2011.

At March 31, 2011, the Debtors had total assets of $63.3 million,
total liabilities of $73.7 million, and a stockholders' deficit of
$10.4 million.

A copy of the March 2011 monthly operating report is available
for free at http://bankrupt.com/misc/int'lgarden.march2011mor.pdf

               About International Garden Products

International Garden Products, Inc. was incorporated in 1996 as a
holding company for Iseli Nursery, Inc., California Nursery
Supply, Weeks Wholesale Rose Grower, and Old Skagit, Inc.  The
company's operating businesses, Iseli and Weeks, focus primarily
on growing horticultural products for nationwide sale to
independent garden centers, landscape suppliers, landscapers and
similar parties.  Iseli's is known in the industry as the premium
source of dwarf conifers, Japanese maples and unique companion
plants.  Weeks is one of the largest wholesale breeders and
growers of premium roses in the U.S.

International Garden Products, Inc., and its affiliates filed
For Chapter 11 protection on Oct. 4, 2010 (Bankr. Lead Case No.
10-13207).  International Garden estimated assets and debts at
$10 million to $50 million in its Chapter 11 petition.

Andrew R. Remming, Esq., at Morris, Nichols, Arsht & Tunnell,
serves as bankruptcy counsel.  Bryan Cave LLP is the legal
counsel.  FTI Consulting is the restructuring advisor.  Garden
City Group is the claims and notice agent.

The debtor-affiliates are Weeks Wholesale Rose Grower (Bankr.
D. Del. Case No. 10-13208), California Nursery Supply (Case No.
10-13209), Iseli Nursery, Inc. (Case No. 10-13210), and Old
Skagit, Inc. (Case No. 10-13211).


LTV CORP: Ends March 2011 With $5,925,000 Cash
----------------------------------------------
On April 20, 2011, The LTV Corporation, et al., submitted to
the United States Bankruptcy Court for the Northern District of
Ohio, Eastern Division, their monthly operating report for
March 2011.

LTV ended the period with a $5,925,000 cash balance.  LTV
reported $46,000 in receipts and $837,000 in disbursements in
March, including $563,000 paid to Chapter 11 professionals.
Beginning cash was $6,716,000.

A full-text copy of the Debtors' March 2011 operating report is
available at no charge at http://is.gd/9kSbB4

                    About The LTV Corporation

Headquartered in Cleveland, Ohio, The LTV Corp. operates as a
domestic integrated steel producer.  The Company along with 48
subsidiaries filed for Chapter 11 protection on Dec. 29, 2000
(Bankr. N.D. Ohio, Case No. 00-43866).  On Aug. 31, 2001, the
Company disclosed $4,853,100,000 in total assets and
$4,823,200,000 in total liabilities.

By order dated Feb. 28, 2002, the Court approved the sale of
substantially all of the Debtors' integrated steel assets to WLR
Acquisition Corp. n/k/a International Steel Group, Inc., for a
purchase price of roughly $80 million, plus the assumption of
certain environmental and other obligations.  ISG also purchased
inventories which were located at the integrated steel facilities
for roughly $52 million.  The sale of the Debtors' integrated
steel assets to ISG closed in April 2002, and a second closing
related to the purchase of the inventory occurred in May 2002.

On Dec. 31, 2002, substantially all of the assets of the Pipe
and Conduit Business, consisting of LTV Tubular Company, a
division of LTV Steel Company, Inc., and Georgia Tubing
Corporation, were sold to Maverick Tube Corporation for cash of
roughly $120 million plus the assumption of certain environmental
and other obligations.  On Oct. 16, 2002, the Debtors announced
that they intended to reorganize the Copperweld Business as a
stand-alone business.  The LTV Corporation no longer exercised any
control over the business or affairs of the Copperweld Business.
A separate plan of reorganization was developed for the Copperweld
Business.  On Aug. 5, 2003, the Copperweld Business filed a
disclosure statement for the Joint Plan of Reorganization of
Copperweld Corporation and certain of its debtor affiliates.  On
Oct. 8, 2003, the Court approved the Second Amended Disclosure
Statement.  On Nov. 17, 2003, the Court confirmed the Second
Amended Joint Plan, as modified, and on Dec. 17, 2003, the Plan
became effective and the common stock was canceled.  Because The
LTV Corporation received no distributions under the Second Amended
Plan, its equity in the Copperweld Business is worthless and has
been canceled.

In November 2002, the Debtors paid the DIP Lenders the remaining
balance due for outstanding loans and in December 2002, the
remaining letters of credit were canceled or cash collateralized.
Consequently, the Debtors have no remaining obligation to the DIP
Lenders.  Pursuant to a February 2003 Court order, LTV Steel
continued the orderly liquidation and wind down of its businesses.

On Oct. 8, 2003, the Court entered an Order substantively
consolidating the Chapter 11 estates of LTV Steel and Georgia
Tubing Corporation for all purposes.

In November and December 2003, approximately $91.9 million was
distributed by LTV Steel to other Debtors pursuant to the
Intercompany Settlement Agreement that was approved by the Court
on Nov. 17, 2003.  On Dec. 23, 2003, the Court authorized LTV
Steel and Georgia Tubing to make distributions to their
administrative creditors and, after the final distribution, to
dismiss their Chapter 11 cases and dissolve.

On March 31, 2005, the Court entered an order that among other
things: (a) approved a distribution and dismissal plan for LTV
and certain other debtors; (b) authorized The LTV Corporation
and LTV Steel to take any and all actions that are necessary or
appropriate to implement the distribution and dismissal plan;
(c) established March 31, 2005, as the record date for identifying
shareholders of LTV that are entitled to any and all shareholder
rights with respect to the distribution and dismissal plan and the
eventual dissolution of LTV; and (d) authorized The LTV
Corporation to establish and fund a reserve account for the
conduct of post-dismissal activities and the payment of post-
dismissal claims.

LTV is in the process of liquidating, and its stock is worthless.

On March 28, 2007, the Official Committee of Administrative
Claimants filed a motion with the Court requesting an order to
approve the appointment of a Chapter 11 trustee.  On April 11,
2007, April 12, 2007, and May 1, 2007, certain of the Defendants
filed motions to convert the case to Chapter 7.  On June 28, 2007,
the ACC filed a motion to withdraw the Chapter 11 Trustee Motion;
the Court granted the ACC's withdrawal motion on Aug. 1, 2007.
An evidentiary hearing on the Chapter 7 Trustee Motion was held in
August 2007.  The Court has not yet issued its order.


MAJESTIC STAR: Posts $3.0 Million Net Loss in February
------------------------------------------------------
The Majestic Star Casino, LLC, reported a net loss of $3.0 million
on net revenues of $8.8 million for the month ended Feb. 28, 2011.

At Feb. 28, 2011, the Company had $294.5 million in total
assets, $814.8 million in total liabilities, and a member's
deficit of $520.3 million.  The Debtor ended the period with
$31.8 million in cash and cash equivalents, which includes
$18.0 million of restricted cash.  This compares with
$27.7 million in cash and cash equivalents at Jan. 31, 2011,
which includes $17.5 million of restricted cash.

A copy of the Company's February 2011 monthly operating report is
available at http://bankrupt.com/misc/majesticstar.feb2011mor.pdf

                       About Majestic Star

The Majestic Star Casino, LLC -- aka Majestic Star Casino, aka
Majestic Star -- is based in Las Vegas, Nev., and is a wholly
owned subsidiary of Majestic Holdco, LLC, which is a wholly owned
subsidiary of Barden Development, Inc.  The Company was formed on
December 8, 1993, as an Indiana limited liability company to
provide gaming and related entertainment to the public.  The
Company commenced gaming operations in the City of Gary at
Buffington Harbor, located in Lake County, Inc., on June 7, 1996.
The Company is a multi-jurisdictional gaming company with
operations in three states -- Indiana, Mississippi and Colorado.

The Company sought Chapter 11 bankruptcy protection (Bankr. D.
Del. Case No. 09-14136) on Nov. 23, 2009.  The Company's
affiliates -- The Majestic Star Casino II, Inc., The Majestic Star
Casino Capital Corp., Majestic Star Casino Capital Corp. II,
Barden Mississippi Gaming, LLC, Barden Colorado Gaming, LLC,
Majestic Holdco, LLC, and Majestic Star Holdco, Inc. -- filed
separate Chapter 11 petitions.

The Majestic Star Casino's balance sheet at June 30, 2009,
showed total assets of $406.42 million and total liabilities of
$749.55 million.

Kirkland & Ellis LLP is the Debtors' bankruptcy counsel.  James E.
O'Neill, Esq., Laura Davis Jones, Esq., and Timothy P. Cairns,
Esq., at Pachulski Stang Ziehl & Jones LLP, are the Debtors'
Delaware counsel.  XRoads Solutions Group, LLC, is the Debtors'
financial advisor, while EPIQ Bankruptcy Solutions LLC serves as
the Debtors' claims and notice agent.

Michael S. Stamer, Esq., and Alexis Freeman, Esq., at Akin Gump
Strauss Hauer & Feld LLP, in New York, and Bonnie Glantz Fatell,
Esq., and David W. Carickhoff, Esq., at Blank Rome LLP, in
Wilmington, Delaware, represent the Official Committee of
Unsecured Creditors.

In March 2011, Majestic Star received confirmation of its Second
Amended Joint Plan of Reorganization, which had the support of the
Company's primary creditor constituencies.  The Court's ruling
allows Majestic Star to implement a capital restructuring that
reduces the Company's long-term debt from roughly $735 million to
roughly $160 million.  Under the Plan, senior secured credit
facility lenders, owed $65.3 million, will be paid in full by
receiving some cash and rolling over remaining debt.  If new
financing is available, the existing facility will be paid in
cash.  Holders of $348.4 million in senior secured notes are to
have a 52% recovery by receiving 58% of the new equity and $100.6
million in cash.  If new financing isn't available, noteholders
will receive new debt instead of cash.  Holders of the senior
notes will receive 42% of the new equity for about $233 million in
debt, resulting in a 25% recovery.  General unsecured creditors
will see 25% in cash or a share in $1 million, whichever is less.
Holders of $72.6 million in discount notes receive nothing.


NEC HOLDINGS: Reports $885,500 Net Income in February
-----------------------------------------------------
NEC Holdings Corp., et al., reported net income of $885,500 on
$7,100 of sales for month of February 2011.

At Feb. 28, 2011, the Debtors had $20.05 million in total assets,
$99.38 million in total liabilities, and a stockholders' deficit
of $79.33 million.

A copy of the February 2011 monthly operating report is available
for free at http://bankrupt.com/misc/necholdings.feb2011mor.pdf

                        About NEC Holdings

Uniondale, New York-based National Envelope Corporation
was the largest manufacturer of envelopes in the world with
14 manufacturing facilities and 2 distribution centers and
approximately 3,500 employees in the U.S. and Canada.

NEC Holdings Corp., together with affiliates, including
National Envelope Inc., filed for Chapter 11 (Bankr. D. Del. Lead
Case No. 10-11890) on June 10, 2010.  Kara Hammond Coyle, Esq., at
Young Conaway Stargatt & Taylor LLP, serves as bankruptcy counsel
to the Debtors.  David S. Heller, Esq., at Josef S. Athanas, Esq.,
and Stephen R. Tetro II, Esq., at Latham & Watkins LLP, serve as
co-counsel.  The Garden City Group is the claims and notice agent.
Bradford J. Sandler, Esq., and Robert J. Feinstein, Esq., at
Pachulski Stang Ziehl & Jones LLP, represent the Official
Committee of Unsecured Creditors.  Morgan Joseph & Co., Inc., is
the financial advisor to the Committee.  NEC Holdings estimated
assets and debts of $100 million to $500 million in its Chapter 11
petition.

In September 2010, National Envelope's key assets were bought in
a roughly $208 million deal by The Gores Group LLC, a West Coast
private equity firm that manages about $2.9 billion of capital.



SHARPER IMAGE: Posts $88,797 Net Loss in March 2011
---------------------------------------------------
TSIC, Inc., formerly known as The Sharper Image Corporation, filed
with the U.S. Bankruptcy Court for the District of Delaware on
April 14, 2011, its monthly operating report for March 2011.

The Debtor reported a net loss of $88,797 on $0 revenue for the
month.  The Debtor incurred a total of $31,390 in professional
fees for the month.

At March 31, 2011, the Company's balance sheet showed $6.4 million
in total assets, $95.3 million in total liabilities, and a
stockholders' deficit of $88.9 million.

The Debtor ended the month with $3,061,219 cash.  For the
month, the Debtor paid a total of $12,468 in professional fees.

A full-text copy of TSIC's March 2011 monthly operating report
is available for free at http://is.gd/C5mxO6

                      About Sharper Image

Headquartered in San Francisco, California, Sharper Image Corp. --
http://www.sharperimage.com/-- was a multi-channel specialty
retailer.  It operated in three principal selling channels: the
Sharper Image specialty stores throughout the U.S., the Sharper
Image catalog and the Internet.  The Company has operations in
Australia, Brazil and Mexico.  In addition, through its Brand
Licensing Division, it was also licensing the Sharper Image brand
to select third parties to allow them to sell Sharper Image
branded products in other channels of distribution.

The Company filed for Chapter 11 protection on Feb. 19, 2008
(Bankr. D. Del. Case No. 08-10322).  Judge Kevin Gross presides
over the case.  Harvey R. Miller, Esq., Lori R. Fife, Esq., and
Christopher J. Marcus, Esq., at Weil, Gotshal & Manges, LLP,
serve as the Company's lead counsel.  Steven K. Kortanek, Esq.,
and John H. Strock, Esq., at Womble, Carlyle, Sandridge & Rice,
P.L.L.C., serve as the Company's local Delaware counsel.

An official committee of unsecured creditors was appointed in the
case.  Cooley Godward Kronish LLP is the Committee's lead
bankruptcy counsel.  Whiteford Taylor Preston LLC is the
Committee's Delaware counsel.

When the Debtor filed for bankruptcy, it disclosed total assets of
$251,500,000 and total debts of $199,000,000.  As of June 30,
2008, the Debtor disclosed $52,962,174 in total assets and
$39,302,455 in total debts.

Sharper Image changed its name to "TSIC, Inc." following the sale
of its assets to a group consisting of Gordon Brothers Retail
Partners, LLC, GB Brands, LLC, Hilco Merchant Resources, LLC, and
Hilco Consumer Capital, LLC.


                           *********

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
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Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
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Monthly Operating Reports are summarized in every Saturday edition
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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.

                           *********

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