TCR_Public/110502.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Monday, May 2, 2011, Vol. 14, No. 120

                            Headlines

AIROCARE INC: Effective Date of Plan Occurred on April 14
ALL AMERICAN XPRESS: Case Summary & 20 Largest Unsecured Creditors
ALLY FINANCIAL: Boasts of Liquidity of $23.8 Billion
ALMADEN ASSOCIATES: Hearing on Plan Outline Continued to May 19
AMERICAN PACIFIC: Hearing on Plan Outline Rescheduled to May 4

APEX REALTY: Bills & Lawsuits Cue Chapter 11 Bankruptcy Filing
APEX REALTY: Case Summary & 20 Largest Unsecured Creditors
APPTIS (DE): Moody's Says Caa1 CFR Unaffected by Acquisition
ARIEL WAY: Executes Payoff Agreement with YA Global
ARRIVA PHARMA: Court Rules on Suit v. Lezdey

ASSOCIATED GROCERS: Goes Into Receivership; Bank Takes Over
AXION INTERNATIONAL: Closes $7.6 Million Financing
BARNES BAY: Hearing on Chapter 11 Trustee Bid on Friday
BIOFUEL ENERGY: Fails to Comply with Nasdaq Listing Requirement
BRIGHTSTAR CORP: Moody's Affirms Ba3 CFR After Senior Note Add-On

BROWN SHOE: Moody's Affirms B2 CFR; Assigns B3 to Bonds
BROWN SHOE: S&P Rates $150MM Sr. Unsecured Notes 'B+'
C&H ARIZONA: Court Continues Status Hearing to May 12
CAESARS ENTERTAINMENT: Borrows $450MM to Complete Octavius Tower
CARIBBEAN PETROLEUM: Plan Filing Exclusivity Extended Until June 8

CARIBBEAN PETROLEUM: Court Adjourns Confirmation Hearing to May 9
CARLISLE APARTMENTS: Court Sets May 20 Claims Filing Deadline
CARLISLE APARTMENTS: Plan Exclusivity Extended Until June 25
CENTRALIA OUTLETS: Court Sets May 11 Prepetition Claim Bar Date
CENTRALIA OUTLETS: Wants Plan Exclusivity Extended to July 29

CENTURA LAND: Files List of Largest Unsecured Creditors
CENTURA LAND: Files Schedules of Assets and Liabilities
CHRISTIAN BROTHERS': Case Summary & 20 Largest Unsecured Creditors
CISCO BROS: Case Summary & 20 Largest Unsecured Creditors
CLAIRE'S STORES: Bank Debt Trades at 5% Off in Secondary Market

CLEAR CHANNEL: Bank Debt Trades at 11% Off in Secondary Market
CLUB METRO: Case Summary & 2 Largest Unsecured Creditors
CMHA-TCB I: Employs Reznick Group as Accountants
CMHA-TCB I: Files Schedules of Assets and Liabilities
CMHA-TCB V: Files Schedules of Assets and Liabilities

COMMERCIAL VEHICLE: Reports $3.27-Mil. Net Income 1st Quarter
COMMERCIAL VEHICLE: Gets Requisite Consents to Amend Indentures
COMMUNITY CENTRAL BANK: Closed; Talmer Bank Assumes All Deposits
COMMUNITY HEALTH: 2014 Debt Trades at 2% Off in Secondary Market
COMMUNITY HEALTH: 2011 Debt Trades at 2% Off in Secondary Market

CORTEZ COMMUNITY BANK: Closed; Premier American Assumes Deposits
CROSS COUNTY: Files List of 20 Largest Unsecured Creditors
DELPHI AUTOMOTIVE: S&P Assigns 'BB' Corporate Credit Rating
DELPHI CORP: Moody's Assigns Ba2 Corporate Family Rating
DEX MEDIA EAST: Bank Debt Trades at 21% Off in Secondary Market

DIABETES AMERICA: Seeks to Reject EBK-DA and EBKT-DA Lease
DIABETES AMERICA: Lease Rejection Period Extended to July 19
EAGLES CREST: Files Amended List of Largest Unsecured Creditors
EASTMAN KODAK: Inks 2nd Amended Credit Agreement with BoA, et al.
EQUIPOWER RESOURCES: S&P Rates $525MM Credit Facilities 'BB-'

EVERGREEN SOLAR: Warns of Slowing Demand, Liquidity Troubles
FAIR HAVEN: Case Summary & 14 Largest Unsecured Creditors
FENTURA FINANCIAL: Reports $310,000 Net Income in 1st Quarter
FIRST CHOICE: Closed; Bank of the Ozarks Assumes All Deposits
FIRST NATIONAL BANK: Closed; Premier Assumes All Deposits

FKF 3 LLC: Court Confirms Joint Plan of Liquidation
FLORIDA GAMING: Enters Into $87 Million Senior Secured Term Loan
FREMONT GENERAL: May 27 Hearing Set on WF Motion to Compel
FUEL WORX: Disclosure Objection Deadline Extended to May 6
GATEHOUSE MEDIA: Bank Debt Trades at 56% Off in Secondary Market

HEATHROW LAND: Case Summary & 13 Largest Unsecured Creditors
HEATHROW VILLAGES: Case Summary & 6 Largest Unsecured Creditors
HERCULES OFFSHORE: Completes Purchase of Seahawk Jackup Rigs
HERCULES OFFSHORE: Reports on Fleet Status as of April 27
HERCULES OFFSHORE: Bank Debt Trades at 1% Off in Secondary Market

INTEGRATED FREIGHT: Tangiers Investors Holds 15.77% Equity Stake
INTERNATIONAL COAL: Reports $21.98-Mil. Net Income in 1st Quarter
INTERNATIONAL GARDEN: Seeks to Employ Moss Adams as Accountant
INTERNATIONAL GARDEN: Seeks Aug. 1 Plan Exclusivity Extension
INTERNATIONAL GARDEN: Given Authority to Implement Incentive Plan

INTERNATIONAL GARDEN: Lease Decision Period Extended to June 30
INTERNATIONAL GARDEN: Weeks Wholesale's Files Schedules of Assets
INTERNATIONAL GARDEN: IGP's Schedules of Assets and Liabilities
JAVO BEVERAGE: Wins Confirmation of Bankruptcy-Exit Plan
KID CHILLEEN: Voluntary Chapter 11 Case Summary

KOLLEL MATEH: Court Dismisses Ch. Trustee's Suit v. Lefkowitz
MAXIMUM LIFE: Case Summary & 5 Largest Unsecured Creditors
MERCANTILE BANCORP: Receives Letter From NYSE Amex LLC
MAJESTIC CAPITAL: Files for Chapter 11 in New York
MAJESTIC CAPITAL: Case Summary & 30 Largest Unsecured Creditors

MFJT LLC: May Use Cash Collateral Until May 19
MINOR FAMILY: Seeks Extension of Plan Filing Period to Sep. 1
ML PROPERTIES: Voluntary Chapter 11 Case Summary
MMRGLOBAL INC: George Rebensdorf Resigns from Board
MOMENTIVE PERFORMANCE: Moody's Assigns B3 Corporate Family Rating

MONTECITO AT MIRABEL: Court Dismisses Chapter 11 Case
NEC HOLDINGS: Wants to Hire CB Richard Ellis as Broker
NEC HOLDINGS: Asks Release of $385,287 in Cash from Policies
NEJA ENTERPRISES: Case Summary & 4 Largest Unsecured Creditors
NEW LIFE: Case Summary & 33 Largest Unsecured Creditors

NEWPAGE CORP: Names Ronald Arling as Controller and CAO
NORTEL NETWORKS: Euro Units Assert $10BB in Intercompany Claims
NORTEL NETWORKS: Patent Sale Hearing Today
PARK AVENUE BANK: Closed; Bank of the Ozarks Assumes All Deposits
PETRA FUND: Court Appoints Jack F. Williams as Examiner

PETRA FUND: Court Extends Plan Solicitation Exclusivity
RASER TECHNOLOGIES: Files for Chapter 11 in Delaware
RASER TECHNOLOGIES: Case Summary & 30 Largest Unsecured Creditors
RDK TRUCK: Court Approves Renaissance Consulting as Consultant
RESTIVO AUTO: Case Summary & 17 Largest Unsecured Creditors

RIO RANCHO: Court Approves Kim & Associates as Accountant
RIO RANCHO: Court Approves Lee & Kent as Bankruptcy Counsel
RIVERVIEW GLOUCESTER: Files for Chapter 11 Bankruptcy Protection
RIVERVIEW GLOUCESTER: Case Summary & 6 Largest Unsecured Creditors
ROBIN HOOD: Case Summary & 19 Largest Unsecured Creditors

SCIENTIFIC GAMES: Moody's Says Barcrest Gain No Impact on Ba3 CFR
SEITEL INC: S&P Upgrades CCR to 'B-' Due to Better Liquidity
SHEA HOMES: Corp. Credit & $750MM Notes Get S&P's 'B' Ratings
SHENGDATECH INC: Gets NASDAQ Delisting Notice; Acting CFO Resigns
SOUTHSIDE ASSEMBLY: Case Summary & 3 Largest Unsecured Creditors

SPORTS & SCORES: Voluntary Chapter 11 Case Summary
STAR WEST: S&P Rates $650MM Term Loan and $100MM Revolver 'B+'
TBS INTERNATIONAL: Sets May 7 as New Record Date of Offering
TERRESTAR NETWORKS: Bid Procedures Hearing on Wednesday
TRENTON LAND: Court Extends Plan Filing Deadline to Aug. 31

TXU CORP: Bank Debt Trades at 20% Off in Secondary Market
VALMONT INDUSTRIES: Moody's Upgrades Debt Rating to Baa3 From Ba1
VIJAY TANEJA: Court Rules on Avoidance Suit v. Warehouse Lenders
VISUALANT INC: Amends Securities Purchase Agreement with Seaside
WILLIAM LYON: S&P Puts 'CCC' Corporate Credit Rating on Watch Neg.

WYLE SERVICES: Moody's Says B3 CFR Unaffected by Credit Amendment
YARLEN INVESTMENTS: Case Summary & 6 Largest Unsecured Creditors
YRC WORLDWIDE: Reaches Deal to Support Restructuring Plan

* FDIC Closes 5 Banks, Pushes Year's Total Failures to 39
* S&P: Global Corp. Default Tally Remains at 13 So Far in 2011

* BOND PRICING -- For Week From April 25 to 29, 2011


                            *********


AIROCARE INC: Effective Date of Plan Occurred on April 14
---------------------------------------------------------
On April 15, 2011, AirOcare, Inc., announced that the effective
date of its Chapter 11 plan occurred on April 14, 2011.

On April 13, 2011, the U.S. Bankruptcy Court for the Eastern
District of Virginia entered its order confirming each of the
provisions of the Plan.

Two impaired classes were entitled to vote on the Plan.  The
Secured Claim of ARC, LLC, under Class 1 and General Unsecured
Claims under Class 3 voted to accept the Plan.

On Jan. 20, 2011, the Bankruptcy Court approved the First Amended
Disclosure Statement explaining AirOcare, Inc.'s Chapter 11 Plan
of Reorganization.

As reported in the TCR on Jan. 10, 2011, under the Plan, ARC, LLC
-- the lone holder of a secured claim -- will have its $3,000,000
secured claim paid from available cash in quarterly installments
until the claim is paid in full, unless other terms
of payment are agreed to by the parties.

Among other things, holders of allowed unsecured claims will
receive:

   a) in available cash pro rata and to the extent of sufficient
      funds by payment of quarterly installments so that the
      allowed amount of the claim plus Legal Interest will be
      paid in full no later than October 1, 2017, or

   b) upon other terms as may be agreed to by the holder of the
      Claim and the Reorganized Debtor.

Unsecured creditors, however, are not entitled to receive, any
distribution of available cash on account of the allowed claims
under the plan until ARC has been paid in full.

Holders of equity interests will not receive any distribution
under the Plan.

A full-text copy of the Disclosure Statement is available for free
at http://ResearchArchives.com/t/s?71e1

                      About AirOcare, Inc.

Dulles, Virginia-based AirOcare, Inc., was originally for the
purpose of purchasing and developing technologies for air
purification.

AirOcare filed for Chapter 11 bankruptcy protection (Bankr. E.D.
Va. Case No. 10-14519) on May 29, 2010.  Frederick W. H. Carter,
Esq., at Venable LLP, in Washington, D.C.; Kristen E. Burgers,
Esq., and Lawrence Allen Katz, Esq., at Venable LLP, in Vienna,
Va.; and Stephen E. Leach, Esq., at Leach Travell Britt, PC, in
McLean, Va., assist the Debtor in its restructuring effort.  The
Debtor also tapped McGinn Intellectual Property Group PLLC for
intellectual property matters.  Indianapolis-based Wooden &
McGlaughlin LLP represents the Debtor in the lawsuit filed by Key
Electronics.  The Company disclosed $21,360,578 in assets and
$7,973,914 in debts as of the Petition Date.


ALL AMERICAN XPRESS: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: All American Xpress, Inc.
        Suite 230, 1447 Peachtree Street
        Atlanta, GA 30309

Bankruptcy Case No.: 11-62481

Chapter 11 Petition Date: April 26, 2011

Court: United States Bankruptcy Court
       Northern District of Georgia (Atlanta)

Debtor's Counsel: Edward F. Danowitz, Jr., Esq.
                  DANOWITZ & ASSOCIATES, P.C.
                  300 Galleria Parkway, NW, Suite 960
                  Atlanta, GA 30339
                  Tel: (770) 933-0960
                  E-mail: edanowitz@danowitzlegal.com

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

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ganb11-62481.pdf

The petition was signed by Jamal Lewis, CEO.


ALLY FINANCIAL: Boasts of Liquidity of $23.8 Billion
----------------------------------------------------
Ally Financial Inc., on April 26, 2011, furnished a presentation
to shareholders regarding the Company's 2010 achievements and
full-year 2010 financial results.  Ally said in the presentation
that it has achieved all strategic objectives for 2010.  The
Company has, among other things:

   * re-established as the premier auto finance provider;

   * diversified business mix as a market driven competitor;

   * successfully implemented Ally Dealer Rewards cross-product
     sales strategy; and

   * completed strategic review of mortgage business.

The Company notes that it was profitable in each quarter of 2010,
including Ally Bank and ResCap.  Ally says it maintains a
conservative liquidity posture with total parent company available
liquidity of $23.8 billion.

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

                      http://is.gd/ZMBmK2

                      About Ally Financial

Ally Financial Inc., formerly GMAC Inc., -- http://www.ally.com/
-- is one of the world's largest automotive financial services
companies.  The company offers a full suite of automotive
financing products and services in key markets around the world.
Ally's other business units include mortgage operations and
commercial finance, and the company's subsidiary, Ally Bank,
offers online retail banking products.  Ally operates as a bank
holding company.

GMAC obtained a $17 billion bailout from the U.S. government in
exchange for a 56.3% stake.  Private equity firm Cerberus Capital
Management LP keeps 14.9%, while General Motors Co. owns 6.7%.

The Company has tapped Goldman Sachs Group Inc. and Citigroup Inc.
to advise on a range of issues, including strategic alternatives
for the mortgage business and repayment of taxpayer funds.

                          *     *     *

In January 2011, Standard & Poor's Ratings Services raised its
rating on the preferred stock of Ally Financial Inc. (Ally;
B/Stable/C) to 'CC' from 'C'.  The ratings firm noted that Ally
improved its liquidity position and alleviated some funding
pressure at its holding Company in recent months, making it easier
to meet obligations on its preferred stock.  Nevertheless, the
Company faces significant debt maturities at its holding Company
in 2011 and 2012, which is reflected in the 'CC' rating.

In February 2011, Moody's Investors Service upgraded the issuer
and senior unsecured ratings of Ally Financial Inc. and its
supported subsidiaries to B1 from B3.  Concurrently, Moody's
upgraded the senior secured (second lien) and senior unsecured
ratings of mortgage finance subsidiary Residential Capital LLC to
Caa3 and Ca, respectively, from C.  The rating outlook for both
Ally and ResCap is stable.

Moody's said the Ally and ResCap upgrades reflect a decline in
ResCap's exposure to portfolio under-performance and mortgage
repurchase risks and an associated decrease in contingent risks to
Ally relating to its support of ResCap.  Additional factors
supporting Ally's upgrade include its strengthened liquidity and
capital positions and prospects for continued profitability in its
core auto finance and mortgage businesses based upon positive
asset quality performance trends.


ALMADEN ASSOCIATES: Hearing on Plan Outline Continued to May 19
---------------------------------------------------------------
On April 13, 2011, the U.S. Bankruptcy Court for the Northern
District of California announced that the hearing on the
disclosure statement of Almaden Associates, LLC, has been
continued to May 19, 2011, at 2:30 p.m., or as soon thereafter as
the matter can be heard in the courtroom of the Honorable Edward
D. Jellen, Judge, United States Bankruptcy Court, 1300 Clay
Street, Courtroom 215, in Oakland, California.

Written objections to the disclosure statement should be filed
with the Clerk of the Court and served upon the undersigned
attorney for the Debtor seven days prior to the hearing.

As reported in the TCR on June 29, 2010, under the Plan, the
Debtor will pay all allowed general unsecured creditors in full
over a period of two years.

Unpaid allowed priority creditors will be paid in full shortly
after confirmation of the Plan.  Allowed administrative
convenience creditors -- unsecured creditors owed $1,000 or less -
- will also be paid a lump sum dividend for the full amount of
their claims shortly after confirmation.

The treatment of secured creditors varies.  As to the different
mortgage holders, Mechanics Bank will be cured as to interest by
August 19, 2010, or allowed to foreclose; thereafter it will be
paid current interest until two years from the effective date of
the Plan, when it will be paid in full.  The notes of other
secured creditors will remain secured by the existing liens, will
be paid on an interest only basis and will be due in full two
years from the effective date of the Plan.

Interest holders will retain their interests.

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

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

                  About Almaden Associates, LLC

Dublin, California-based Almaden Associates, LLC, filed for
Chapter 11 bankruptcy protection on Feb. 22, 2010 (Bankr. N.D.
Calif. Case No. 10-41903).  The Company estimated its assets and
debts at $10,000,001 to $50,000,000.  The Debtor is represented by
Joel K. Belway, Esq., at The Law Office of Joel k. Belway, in San
Francisco, California, as counsel.


AMERICAN PACIFIC: Hearing on Plan Outline Rescheduled to May 4
--------------------------------------------------------------
The hearing to consider the approval of the disclosure statement
explaining American Pacific Financial Corporation's proposed
Chapter 11 plan of reorganization has been rescheduled to May 4,
2011, at 9:30 a.m.

On April 1, 2011, the Debtor filed with the U.S. Bankruptcy Court
for the District of Nevada a disclosure statement explaining its
amended Chapter 11 Plan of Reorganization dated April 1, 2011.

Funding of the Plan will be satisfied from cash on hand (including
the remaining proceeds of the DIP Facility), the lease or sale of
assets and Trust Assets or a combination of the foregoing.

The Plan provides for:

   -- cash payments to holders of priority claims;

   -- return or liquidation of collateral of secured creditors;
      and

   -- cash payments to all general unsecured creditors with
      allowed claims:

       * Holders of General Unsecured Claims of $5,000 or less
         ($37,315.16) will receive a cash payment of 50% of their
         claims out of the first Trust distribution after
         Administrative Claims and Class 1 secured Claims and
         Class 2 Priority Claims are paid in full.

       * Other holders of general unsecured claims (totaling
         $159,508,939.65) will be paid pro rata from Trust Assets.
         Each holder will receive a pro rata share of assets sold
         at liquidation prices.

A copy of the disclosure statement explaining the Debtor's Amended
Chapter 11 Plan of Reorganization is available for free at:

         http://bankrupt.com/misc/AmericanPacific.DS.pdf

                  About American Pacific Financial

Las Vegas, Nevada-based American Pacific Financial Corporation has
been involved in private equity and sub-debt investment in various
types of companies since 1978.  APFC's assets include loans and
investments in distressed real estate development projects and in
other types of distressed operating companies throughout various
industries.  The Company filed for Chapter 11 bankruptcy
protection (Bankr. D. Nev. Case No. 10-27855) on Sept. 21, 2010.
Kaaran Thomas, Esq., and Ryan J. Works, Esq., at McDonald Carano
Wilson, LLP, in Las Vegas, Nevada, represent the Debtor.  The
Company disclosed $16,597,647 in assets and $160,977,435 in
liabilities as of the Chapter 11 filing.

As reported in the TCR on April 27, 2011, August B. Landis, the
Acting U.S. Trustee for Region 17, asked the U.S. Bankruptcy Court
for the District of Nevada to appoint a Chapter 11 trustee in the
bankruptcy case of American Pacific Financial Corporation.

The hearing on the Motion was set for April 18, 2011, but the
Court rescheduled it to May 4, 2011 at 9:30 a.m.


APEX REALTY: Bills & Lawsuits Cue Chapter 11 Bankruptcy Filing
--------------------------------------------------------------
Apex Realty Enterprises LLC, an affiliate of development firm RMRW
Ltd., filed for Chapter 11 bankruptcy Wednesday in Columbus,
estimating liabilities $10 million to $50 million and assets of
less than $10 million.

Brian R. Ball at Business First reports that mounting bills and
lawsuits have the developer of the failed Ibiza condominium
project seeking protection in U.S. Bankruptcy Court -- just as
would-be buyers were scheduled to begin giving sworn statements
for lawsuits seeking return of their deposits.

Business First relates that the filing comes 15 months after the
developer abandoned plans to build 135 condos in an 11-story tower
and attempted to convert the project into apartments.  Columbus
attorney Brian Laliberte, who represents several buyers trying to
get deposits back, said the filing came the day before the first
depositions in 10 lawsuits were due to begin.

Columbus investor Michael Schiff last month announced plans to buy
the project's $4.8 million mortgage from the Finance Fund, a
lender that uses federal tax credits to spur investment in
distressed "new markets" such as urban neighborhoods, notes Mr.
Ball

That transaction has not closed, according to public records.  The
Finance Fund's Community Loan Fund New Markets II LLC affiliate is
listed in the bankruptcy filing as a $5.1 million creditor, with
$3.1 million of that considered secured debt.  Unsecured creditors
include the Columbus architectural firm of Berardi & Partners Inc.
at $503,312.  That debt is listed as "contingent" and "disputed"
in the filing.


APEX REALTY: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: APEX Realty Enterprises, LLC
        dba Ibiza
        861 N. High Street
        Columbus, OH 43215

Bankruptcy Case No.: 11-54512

Chapter 11 Petition Date: April 27, 2011

Court: United States Bankruptcy Court
       Southern District of Ohio (Columbus)

Judge: John E. Hoffman Jr.

Debtor's Counsel: Myron N. Terlecky, Esq.
                  STRIP HOPPERS LEITHART MCGRATH &
                  TERLECKY CO., LPA
                  575 S Third St.
                  Columbus, OH 43215
                  Tel: (614) 228-6345
                  E-mail: mnt@columbuslawyer.net

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

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ohsb11-54512.pdf

The petition was signed by Raymond M. Brown, president.


APPTIS (DE): Moody's Says Caa1 CFR Unaffected by Acquisition
------------------------------------------------------------
Moody's Investors Service said that Apptis (DE) Inc.'s
announcement that URS Corporation (rated Ba1 by Moody's) has
agreed to acquire it from affiliates of New Mountain Capital does
not affect Apptis' Caa1 corporate family rating and Caa1
probability of default rating, nor the existing instrument
ratings. The ratings outlook remains positive. The acquisition
does not include the Iron Bow product reseller subsidiary of
Apptis, which is expected to continue to operate as an
independent, stand-alone company. The transaction is expected to
close within approximately sixty days. If the transaction closes,
it is expected that Apptis' debt will be repaid upon closing of
the acquisition. Upon consummation of the acquisition and full
repayment of rated debt, the ratings would be expected to be
withdrawn.

These summarizes the current ratings:

   -- Corporate family rating at Caa1;
   -- Probability of default rating at Caa1.
   -- $25 million senior secured revolving credit facility rating
      at B1 (LGD-2, 20%)

   -- $79 million senior secured term loan rating at B1 (LGD-2,
      20%)

The principal methodology used in rating Apptis (DE) Inc. was the
Global Aerospace and Defense Methodology, published June 2010.
Other methodologies used include Loss Given Default for
Speculative Grade Issuers in the US, Canada, and EMEA, published
June 2009.

Apptis (DE), Inc., headquartered in Chantilly, Virginia, provides
information technology services and solutions primarily to federal
government agencies. Through its two operating division: Apptis
Services and Iron Bow Technologies, the company's core offerings
include software development and engineering, network
infrastructure deployment and support services, and product
fulfillment. Gross revenues for fiscal year 2010 were roughly
$1 billion.


ARIEL WAY: Executes Payoff Agreement with YA Global
---------------------------------------------------
Ariel Way, Inc., announced that it has executed a payoff agreement
with YA Global Investments, L.P., and Yorkville Advisors, LLC, its
Investment Manager.

Pursuant to the Agreement, the Company offered to pay YA Global
$400,000 on or before Aug. 31, 2011, and subject to the terms and
conditions of the Agreement, YA Global agreed that this will be
the payoff amount for all Series A Convertible Preferred Stock
held by YA Global on the payoff date.  Further, upon the payoff,
promissory notes at $102,220 principal and accrued interest will
be forgiven and 425 million Warrant Shares out of 500 million
Warrant Shares issued to YA Global will be cancelled.  The Company
is obligated to reserve a total of 312 million shares in Treasury.

Arne Dunhem, Ariel Way Chairman, President and CEO said, "We are
pleased with and appreciate the efforts by the Yorkville Advisors
team that has been willing to work with us going forward and for a
payoff arrangement that we believe is beneficial for all parties
including the Shareholders of Ariel Way.  We believe the
arrangement will result in the lowest potential dilution for all
Shareholders and after the payoff, there will be no more dilution
from the YA Global investment."

A full-text copy of the Agreement is available for free at
http://is.gd/ybCcJb

                          About Ariel Way

Based in Vienna, Va., Ariel Way Inc. (OTC BB: AWYI) --
http://www.arielway.com/-- is a technology and services company
for highly secure global communications, multimedia and digital
signage solutions and technologies.  The company is focused on
developing innovative and secure technologies, acquiring and
growing profitable advanced technology companies and global
communications service providers and creating strategic alliances
with companies in complementary product lines and service
industries.

Ariel Way Inc. said in a filing with the Securities and Exchange
Commission that it has, as of Nov. 3, 2010, significantly reduced
its debt and liabilities -- through a settlement of debt to Arne
Dunhem -- and the conversion of $95,023 in debt to 316,744,514
shares of restricted common stock to Arne Dunhem.

Management intends to aggressively continue to attempt to reduce
the past debt and liabilities of the Company with a target of less
than $100,000 before end of year 2010.  Management believes this
may create alternatives for new financing and the acquisition of
new operations to grow the shareholder value.

                        Going Concern Doubt

Ariel Way last filed financial reports with the Securities and
Exchange Commission in 2008.

In January 2008, Bagell, Josephs, Levine & Company, LLC, in
Marlton, N.J., expressed substantial doubt about Ariel Way Inc.'s
ability to continue as a going concern after auditing the
company's consolidated financial statements for the year ended
Sept. 30, 2007.  The auditing firm said that the company did not
generate sufficient cash flows from revenues during the year ended
Sept. 30, 2007, to fund its operations.


ARRIVA PHARMA: Court Rules on Suit v. Lezdey
--------------------------------------------
Bankruptcy Judge Edward D. Jellen granted Arriva Pharmaceuticals,
Inc.'s motion for summary judgment on its fourth claim for relief
in the adversary proceeding against John Lezdey, J.L. Technology
L.P., and Jamie Holding Company, LLC.

The suit, Arriva Pharmaceuticals, Inc., a California Corporation,
v. John Lezdey, an individual, J.L. Technology, L.P., a Nevada
limited partnership, and Jamie Holding Company, LLC, a Florida
limited liability company, Adv. Proc. No. 09-04573 (Bankr. N.D.
Calif.), is the latest instalment of a dispute in which the
litigation has spanned both the continent and three different
decades.  At the core of the dispute is a license agreement dated
April 16, 1998, between Protease Sciences, Inc., as the licensor,
and Arriva, then known as AlphaOne Pharmaceuticals, Inc., as the
licensee.  By the Protease License, PSI granted Arriva an
exclusive license of certain patents for drugs to treat
respiratory diseases.

Following execution of the Protease License, Lezdey and several
entities that Lezdey and members of his family controlled claimed
that the Protease License was invalid, whereupon a series of
lawsuits began, all of which ultimately affirmed the validity of
the Protease License.

A copy of the Court's April 26, 2011 Decision is available at
http://is.gd/1ZtTrJfrom Leagle.com.

                   About Arriva Pharmaceuticals

Headquartered in Alameda, California, Arriva Pharmaceuticals Inc.
-- http://www.arrivapharm.com/-- is a privately held
biopharmaceutical company focused on the development and
commercialization of anti-inflammatory therapies for the treatment
of respiratory diseases.  The Debtor is also known as AlphaOne
Pharmaceuticals Inc.

The Debtor filed for Chapter 11 bankruptcy protection on Aug. 29,
2007 (Bankr. N.D. Calif. Case No. 07-42767).  Ori Katz, Esq., at
Sheppard, Mullin, Richter and Hampton LLP represents the Debtor in
its restructuring efforts.  When the Debtor filed for bankruptcy,
it listed assets and debts between $1 million to $100 million.
The Court has confirmed the Debtor's reorganization plan.


ASSOCIATED GROCERS: Goes Into Receivership; Bank Takes Over
-----------------------------------------------------------
WLBZ News reports that Associated Grocers has gone into
receivership.

According to the report, the Savings Bank of Maine will take over
and manage the affairs of the Company.  The report relates that
the Teamsters are unsure what the bank will choose to do with the
Company and its workers, but they're trying to stay positive.

"We're still optimistic, we hope they want to keep the business
going, we represent 70 members with Associated Grocers, we've had
a great relationship with the company" the report quotes Dan
Walsh, a business agent with the union, as saying.  "They pay a
living wage, there's health and welfare, there's a pension.  We're
willing to work with the bank, we'd love a white knight to come
along and save the day for us.  I'm still going to stay optimistic
until the fat lady sings," he added.

Associated Grocers supplies independent grocers around Maine.
Associated Grocers has operated since 1953 and serves hundreds of
small grocery stores around the state.


AXION INTERNATIONAL: Closes $7.6 Million Financing
--------------------------------------------------
Axion International has closed a $7.6 million financing to support
continued growth of its Recycled Structural Composite technology.
The funds were raised as part of a private placement of its 10%
convertible preferred stock that closed April 21, 2011.

"Axion is pleased to announce the close of our latest financing,"
said Steve Silverman, Axion's President and Chief Executive
Officer.  "Various accredited investors took part in the deal,
including Perry Jacobson, our Chairman of the Board.  The funds
raised allow Axion to grow our company in critical areas such as
raw material sourcing infrastructure, manufacturing capacity,
staffing and sales growth.  The financing will allow Axion to
implement strategies for continued R&D, as well as structural
testing of our materials for use in other applications."

Mr. Silverman continued, "We have an immediate need to expand
capacity in order to meet existing orders as well as our growing
pipeline of pending business opportunities.  Top line revenue,
along with our active pipeline, has been increasing since January
so now that we are freshly capitalized I am confident we will be
able to support a higher level of strategic growth initiatives in
the remainder of 2011 and beyond."

Perry Jacobson, Axion's Chairman of the Board, commented, "I am
extremely enthusiastic about Axion's growth prospects in the
recycling arena and believe this is a great opportunity to
participate in a unique venture at the intersection of 'green'
technology and enhanced infrastructure solutions."

Developed in conjunction with Rutgers University's Materials
Sciences and Engineering Department, Axion's RSC is inert and
contains no toxic materials.  It is impervious to insect
infestation, will not leach toxic chemicals nor warp. Because it
is lighter than traditional materials, transporting RSC is less
expensive and reduces energy costs.  In addition, RSC is
completely recyclable at the end of its functional life.

                     About Axion International

New Providence, N.J.-based Axion International Holdings, Inc.
(OTC BB: AXIH) -- http://wwwaxionintl.com/-- is a structural
solution provider of cost-effective alternative infrastructure and
building products.  The Company's "green" proprietary technologies
allow for the development and manufacture of innovative structural
products made from virtually 100% recycled consumer and industrial
plastics.

The Company's balance sheet at Sept. 30, 2010, showed $1.7 million
in total assets, $2.1 million in total liabilities, and a $439,000
stockholders' deficit.

Jewett, Schwartz, Wolfe and Associates, in Hollywood, Florida,
expressed substantial doubt about the Company's ability to
continue as a going concern, following the Company's results for
the fiscal years ended Sept. 30, 2009 and 2010.  The independent
auditors said the Company's need to seek new sources or methods of
financing or revenue to pursue its business strategy, raise
substantial doubt about the Company's ability to continue as a
going concern.


BARNES BAY: Hearing on Chapter 11 Trustee Bid on Friday
-------------------------------------------------------
Marie Beaudette, writing for Dow Jones' Daily Bankruptcy Review,
reports that Viceroy Anguilla Resort and Residences will be in
court Friday trying to fend off creditors' request for appointment
of a Chapter 11 Trustee.

DBR notes the creditors have accused the resort's management of
doing the "bidding" of private equity firm Starwood Capital Group,
which has offered to buy the 35-acre resort through a Chapter 11
auction process using debt instead of cash.

Viceroy owes Starwood Capital $357.4 million, a loan the creditors
call "tainted."

The firm paid just $105 million to buy the loan from Citigroup
Inc. as "part of an insidious 'loan-to-own' strategy," according
to the official committee representing the resort's unsecured
creditors, according to the report.

The report also relates the creditors said a sale to Starwood
Capital would leave them "holding an empty bag."  They say a
Chapter 11 trustee could do a better job of negotiating a
resolution to the Chapter 11 case that would provide broader
recoveries.

                       About Barnes Bay

Beverly Hills, California-based Barnes Bay Development Ltd. owns
the Viceroy Anguilla Resort & Residences on the British West
Indies island of Anguilla.  Barnes Bay and two affiliates filed
for Chapter 11 bankruptcy protection (Bankr. D. Del. Lead Case No.
11-10792) on March 17, 2011.  The Company disclosed that as of as
of Dec. 31, 2010, it had $531 million in consolidated assets and
$462 million in consolidated debt.  In its schedules Barnes Bay
listed $3,331,282 in assets and $481,840,435 in liabilities.

Akin Gump Straus Hauer & Feld LLP is the Debtors' bankruptcy
counsel, and Keithley Lake & Associates is the Debtors' special
Anguillan counsel.  Kurtzman Carson Consultants LLC is the
Debtors' claims, noticing, solicitation and balloting agent.

The Debtors' Chapter 11 plan is intended to facilitate the sale of
the Viceroy Anguilla Resort and Residences.

The Official Committee of Unsecured Creditors appointed in the
case has retained Brown Rudnick and Womble Carlyle Sandridge &
Rice, PLLC, as co-counsel.  FTI Consulting, Inc., serves as
financial advisors to the Committee.


BIOFUEL ENERGY: Fails to Comply with Nasdaq Listing Requirement
---------------------------------------------------------------
BioFuel Energy Corp., on April 20, 2011, received a letter from
The Nasdaq Stock Market indicating that the bid price of its
common stock for the last 30 consecutive business days had closed
below the minimum $1.00 per share required for continued listing
under Nasdaq Listing Rule 5450(a)(1).  Under Nasdaq Listing Rule
5810(c)(3)(A), the Company has been provided an initial period of
180 calendar days, or until Oct. 17, 2011, in which to regain
compliance.  The letter states that the Nasdaq staff will provide
written notification that the Company has achieved compliance with
Rule 5550(a)(1) if at any time before Oct. 17, 2011, the bid price
of the Company's common stock closes at $1.00 per share or more
for a minimum of 10 consecutive business days unless the Nasdaq
staff exercises its discretion to extend this 10 day period as
discussed in Nasdaq Listing Rule 5810(c)(3)(F).

If the Company does not regain compliance with Rule 5450(a)(1) by
Oct. 17, 2011, the Nasdaq staff will provide written notice that
the Company's securities are subject to delisting.  At that time,
the Company may appeal Nasdaq's determination to delist its
securities to a Hearings Panel.

                       About Biofuel Energy

Denver, Colo.-based BioFuel Energy Corp. (Nasdaq: BIOF)
-- http://www.bfenergy.com/-- aims to become a leading ethanol
producer in the United States by acquiring, developing, owning and
operating ethanol production facilities.  It currently has two
115 million gallons per year ethanol plants in the Midwestern corn
belt.

The Company reported a net loss of $25.22 million on $453.41
million of net sales for the year ended Dec. 31, 2010, compared
with a net loss of $19.70 million on $415.51 million of net sales
during the prior year.

The Company's balance sheet at Dec. 31, 2010 showed
$331.71 million in total assets, $277.29 million in total
liabilities and $54.42 million in total equity.

                      Going Concern Doubt;
                       Bankruptcy Warning

Grant Thornton LLP, in Denver, did not issue a going concern
qualification after auditing the Company's financial statements
for the year ended Dec. 31, 2010.

As reported in the Troubled Company Reporter on March 31, 2010,
Grant Thornton LLP, in Denver, 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 declining liquidity and has $16.5 million of
outstanding working capital loans that mature in September 2010.

In the Form 10-K for the year ended Dec. 31, 2010, the Company
noted that its ability to make payments on and refinance its $230
million senior debt facility -- of which $189.4 million was
outstanding as of Dec. 31, 2010 -- depends on its ability to
generate cash from operations.  The Company noted that during its
first two full years' of operations, it has been unable to
consistently generate positive cash flow.  In addition, it
continues to have, severely limited liquidity, with $7.4 million
of cash on hand as of Dec. 31, 2010.

"If we do not have sufficient cash flow to service our debt, we
would need to refinance all or part of our existing debt, sell
assets, borrow more money or raise additional capital, any or all
of which we may not be able to do on commercially reasonable terms
or at all.  If we are unable to do so, we may be required to
curtail operations or cease operating altogether, and could be
forced to seek relief from creditors through a filing under the
U.S. Bankruptcy Code.  Because the debt under our Senior Debt
Facility subjects substantially all of our assets to liens, there
may be no assets left for stockholders in the event of a
liquidation.  In the event of a foreclosure on all or
substantially all of our assets, we may not be able to continue to
operate as a going concern."


BRIGHTSTAR CORP: Moody's Affirms Ba3 CFR After Senior Note Add-On
-----------------------------------------------------------------
Moody's Investors Service has affirmed Brightstar Corp.'s Ba3
Corporate Family (CFR) and Probability of Default Ratings, and B1
senior unsecured notes rating. The rating outlook is stable. This
action follows the company's recent announcement that it plans to
issue up to $100 million of add-on notes to the $250 million 9.50%
senior unsecured notes due 2016 that were privately placed last
November. The terms of the proposed add-on are expected to be
identical to the existing notes. Brightstar expects to use the net
proceeds from this offering, after deducting estimated fees and
expenses, to repay indebtedness incurred under the ABL revolver,
subsequent to December 31, 2010, including borrowings used to fund
the acquisition of eSecuritel. eSecuritel is a provider of cell
phone and wireless products insurance services, including
enrollment, billing and handset replacement. Though eSecuritel is
outside of Brightstar's core business, the company expects to
leverage its global presence and infrastructure to integrate the
acquisition and expand its offerings globally.

RATINGS RATIONALE

The contemplated add-on transaction represents a disproportionate
amount of incremental debt relative to additive EBITDA expected
from the eSecuritel acquisition. However, Brightstar has capacity
at the current rating level to incur additional debt given that we
anticipate EBITDA (Moody's adjusted) to expand to about $190
million in 2011 compared to $133 million in 2010. As such, by year
end 2011 we expect total adjusted debt to EBITDA will remain near
the current level of 3.7x (as of 12/31/10). Nonetheless, to the
extent the company pursues further debt financed acquisitions that
are not meaningfully accretive to EBITDA, ratings could be
negatively pressured.

Brightstar's Ba3 CFR reflects its presence and leadership position
as a global services company providing value-added distribution,
supply chain, retail and enterprise services to key participants
in the wireless telecommunications industry. Ratings support is
provided by Brightstar's infrastructure, channel reach and
capabilities as a principal supplier of distribution, logistics,
inventory management and supply-chain services with high
entry/exit barriers in the mobility space. Brightstar's Ba3 rating
also reflects the challenges posed by the company's low margin
business profile, significant supplier/product-line, customer and
regional (Latin America) concentrations, and limited pricing
power. It also captures exposure to the highly cyclical and
volatile wireless telecommunications industry. Additionally, the
rating recognizes Brightstar's sizable working capital needs and
reliance on external financing during periods of significant
revenue growth, which can result in extended periods of negative
free cash flow (FCF).

The stable outlook reflects our expectations that Brightstar will
continue to maintain share in core markets, vendor/customer
relationships will remain relatively steady, operating margins
will be maintained in the 2-4% range, retained cash flow to debt
(Moody's adjusted) will stay at or above 20% and liquidity will
remain adequate.

Brightstar maintains adequate liquidity. Though the business model
requires minimal capex, which generally supports positive FCF
generation, we expect negative FCF over the next twelve months due
to higher working capital usage for receivables and inventory
given our continued expectation for outsized revenue growth from
new customer signings and penetration into existing client
accounts. Liquidity support is provided by an existing $500
million ABL revolver maturing December 2015, roughly $335 million
of credit and trade facilities, and unrestricted cash balances of
approximately $159 million at closing as of 12/31/10 pro forma for
the eSecuritel transaction.

Brightstar's Ba3 rating could experience upward pressure if the
company's revenue and operating profits continue to grow as a
result of market share gains, operating margins expand above 4.5%
(Moody's adjusted), FCF becomes consistently positive and leverage
declines to under 2.5x (Moody's adjusted), all on a sustained
basis.

Downward rating pressure could result if Brightstar witnessed
material vendor losses or intense competition from distributors
and vendors/OEMs were to cause market share losses, pricing
pressure and/or substantial margin erosion as well as a decline in
internal liquidity. Additionally, if the company incurs a
disproportionate amount of debt relative to additive EBITDA to
pursue an acquisition or investment resulting in total debt to
EBITDA (Moody's adjusted) greater than 4.0x on a sustained basis,
the rating could be downgraded.

These ratings were affirmed and assessments revised:

   -- Corporate Family Rating -- Ba3

   -- Probability of Default Rating -- Ba3

   -- $350 Million Senior Unsecured Notes due 2016, currently B1,
      LGD assessment revised to (LGD-4, 62%) from (LGD-4, 64%)

The principal methodologies used in this rating were Global EMS
and IT Distribution Industries published in December 2008, and
Loss Given Default for Speculative-Grade Non-Financial Companies
in the U.S., Canada and EMEA published in June 2009.

Headquartered in Miami, Florida, Brightstar Corp. is a leading
global distributor of wireless handsets, smart phones, IT devices
and consumer electronics serving major technology OEMs, network
operators and retailers. Revenues for the fiscal year ended
December 31, 2010 were approximately $4.6 billion.


BROWN SHOE: Moody's Affirms B2 CFR; Assigns B3 to Bonds
-------------------------------------------------------
Moody's Investors Service assigned a B3 rating to the proposed
$150 million senior unsecured bonds of Brown Shoe Company, Inc.
Moody's also affirmed Brown Shoe's B2 corporate family and
probability of default ratings, its positive outlook, and its SGL-
2 speculative grade liquidity rating. The rating outlook remains
positive. Brown Shoe intends to use proceeds of the bond offering
to repay its existing $150 million of senior unsecured bonds due
May 2012.

RATINGS RATIONALE

Moody's considers the bond transaction leverage neutral because it
is a refinancing. The transaction is modestly positive for the
credit profile based on the extension of maturity and potential
for some (estimated at around $2 million annually) savings in
interest expense. However, the Loss Given Default (LGD) rate on
the proposed bonds worsened somewhat because of the recent
increase in the amount of secured debt that will have priority
claims ahead of the unsecured bondholders. Brown Shoe increased
the capacity of its secured revolver (unrated) to $530 million
from $380 million in February 2011 in conjunction with the
acquisition of American Sporting Goods Corporation (ASG). So, the
LGD rate on the new bonds will be higher than the LGD rate on the
bonds due May 2012.

Moody's views the acquisition of ASG as leverage neutral based on
adjusted metrics and believe the transaction could improve the
operating profile of Brown Shoe over time. The combination will
expand Brown Shoe's wholesale business and also brings athletic
performance brands Avia, ryka and AND1. Brown Shoe historically
lacked a strong presence in this product category. Also, the
combined entity could enhance its distribution channels given
ASG's more significant presence in athletic and sporting good
stores relative to Brown Shoe.

Brown Shoe Company, Inc.

   Senior Unsecured Bonds, Assigned B3, LGD5, 78%

   -- Affirmed B2 Corporate Family Rating
   -- Affirmed B2 Probability of Default Rating
   -- Affirmed SGL-2 Speculative Grade Liquidity Rating

Outlook, Positive

Brown Shoe's B2 corporate family rating continues to reflect its
weak credit metrics, with debt-to-EBITDA of approximately 5.7
times and negative free cash flow for the year ended January 31,
2011. The high leverage poses challenges for managing a business
sensitive to shifts in consumer spending and product preference.
Furthermore, Brown Shoe's EBITA margin has consistently lagged
peers. The company's credible market position with a national
footprint, enhanced by its wholesale business which expands its
distribution channels and coverage, supports the rating.
The positive outlook signals the potential for an upgrade if Brown
Shoe can demonstrate steady and improved operating performance
compared to the second half of calendar 2010, while also
maintaining organic sales growth. In the second half of 2010, the
company had challenges related to sourcing and the implementation
of a new technology system, which pressured margins and cash flow.
Moody's would consider an upgrade with expectations for EBITA
margins sustained in the mid 6% range and debt-to-EBITDA sustained
around 5 times. An upgrade would also require maintenance of good
liquidity.

The outlook would likely revert to stable with lack of improvement
in operating margins or expectations for leverage to remain in the
mid 5 times range. Deterioration of the liquidity profile,
leverage in the high 5 times range, or challenges integrating ASG
could pressure the ratings down.

The principal methodology used in rating Brown Shoe Company, Inc.
was the Global Retail Industry Methodology, published December
2006. Other methodologies used include Loss Given Default for
Speculative Grade Issuers in the US, Canada, and EMEA, published
June 2009.

Headquartered in St. Louis, Missouri, Brown Shoe's Retail division
operates Famous Footwear, a family branded footwear destination
with over 1,100 stores nationwide and e-commerce site
FamousFootwear.com, approximately 260 specialty retail stores in
the U.S., Canada, and China primarily under the Naturalizer brand
name, and footwear e-tailer shoes.com. Through its wholesale
divisions, Brown Shoe designs and markets footwear brands
including Naturalizer, Dr. Scholl's, Franco Sarto, LifeStride,
Etienne Aigner, Sam Edelman, Via Spiga, Vera Wang Lavender and
Buster Brown. Its annual revenue for the year ended January 31,
2011, was approximately $2.5 billion. Pro forma for the
acquisition of American Sporting Goods Corporation, annual revenue
is approximately $2.7 billion


BROWN SHOE: S&P Rates $150MM Sr. Unsecured Notes 'B+'
-----------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B+' ratings to
Brown Shoe Co. Inc.'s $150 million senior unsecured notes due
2019. The recovery rating on the debt instrument is '3',
reflecting our expectation for meaningful (50%-70%) recovery of
principal in the event of a payment default. According to the
company, it will use the net proceeds to refinance its existing
senior unsecured notes which mature in May 2012.

"The issue rating is the same as our corporate credit rating on
Brown Shoe, which remains unchanged," S&P noted.

Ratings List

Brown Shoe Co. Inc.
Corporate Credit Rating        B+/Stable/--

New Ratings

Brown Shoe Co. Inc.
Senior Unsecured
  $150 mil notes due 2019       B+
   Recovery Rating              3


C&H ARIZONA: Court Continues Status Hearing to May 12
-----------------------------------------------------
At a hearing on confirmation of C&H Arizona-Stucky, LLC's
Chapter 11 plan on April 11, 2011, Edwin B. Stanley, Esq.,
attorney for the Debtor, stated that Robb & Stucky is going out of
business.  Mr. Stanley requested for a continuance of the hearing
on the motion for relief from stay filed by MSDW 2000 Life 1
Stucky Store set April 28, 2011, to mid May.

Upon this request, Judge Randolph J. Haines of the U.S. Bankruptcy
Court for the District of Arizona ordered that the continuance of
the trial to May 12, 2011, at 1:30 p.m.

Judge Haines further ordered continuing the status hearing on the
Debtor's Chapter 11 case to May 12, 2011, at 1:30 p.m.

As reported in the Troubled Company Reporter on Sept. 17, 2010,
the Debtor filed a plan that would pay secured claims in full over
a five-year period.  General unsecured claims will be paid in
full, with interest, in two installments.  The first installment
of 50% of the principal and all accrued interest will be paid on
the Effective Date.  The second installment of all remaining
principal and all accrued interest will be paid six months after
the Effective Date.  Administrative convenience claims (claims of
$9,000 or less) will be paid in full on the Plan Effective Date.

A full-text copy of the disclosure statement explaining the terms
of the Chapter 11 plan is available for free at:

        http://bankrupt.com/misc/C&HArizona_AmendedDS.pdf

                   About C&H Arizona-Stucky, LLC

Walnut Creek, California-based C&H Arizona-Stucky, LLC, is the
owner and current operator of a 113,071 square feet retail
shopping center located at 15440 North Scottsdale Road,
Scottsdale, Arizona.  The Company filed for Chapter 11 bankruptcy
protection (Bankr. D. Ariz. Case No. 10-21165) on July 7, 2010.
Simbro & Stanley, PLC, represents the Debtor.  The Company
disclosed $18,064,966 in assets and $9,167,574 in liabilities as
of the Petition Date.


CAESARS ENTERTAINMENT: Borrows $450MM to Complete Octavius Tower
----------------------------------------------------------------
Caesars Entertainment Corporation together with certain of its
indirect wholly-owned subsidiaries, as borrowers, entered into a
credit agreement pursuant to which they incurred financing to
complete the Octavius Tower at Caesars Palace Las Vegas and to
develop a retail, dining and entertainment corridor located
between the Imperial Palace Hotel and Casino and the Flamingo Las
Vegas on the Las Vegas strip.  The Credit Agreement provides for a
$450 million senior secured term facility with a six-year
maturity, which will be secured by all material assets of the
Borrowers.  The proceeds of the Term Facility will be used by the
Borrowers to finance the Development and to pay fees and expenses
incurred in connection with the Term Facility and the transactions
related thereto.

As a condition to the provision of the Term Facility, the Company
provided a completion guarantee in favor of JPMorgan Chase Bank,
N.A., as administrative agent and collateral agent for the
lenders, with respect to the Development, which guarantees
completion of the construction of the Development, availability of
contemplated working capital and receipt of material permits and
licenses necessary to open and operate the Development.  The
maximum liability of the Company under the completion guarantee is
$25 million in respect of Project Octavius and $75 million in
respect of Project Linq.

In connection with the Development and the Term Facility, the
Company will contribute or cause to be contributed the existing
Octavius Tower and related assets to one of the Borrowers and the
existing O'Sheas casino and related real property and other assets
comprising the components of Project Linq to one of the Borrowers.
Upon completion of Project Octavius, one of the Borrowers will
lease the Octavius Tower to a wholly-owned subsidiary of Caesars
Entertainment Operating Company, Inc.  Upon completion of Project
Linq, one of the Borrowers will lease the gaming space in Project
Linq to a wholly-owned subsidiary of CEOC.  The total lease
payments will be $50 million annually once the Development is
open.  CEOC has guaranteed certain of the obligations of the
lessees under the Project Octavius and Project Linq leases.

Pursuant to the Credit Agreement, the Company is required to make
cash contributions to the Borrowers from time to time to fund a
total equity commitment to the Development of $76.0 million.  In
addition, from time to time, the Company may be required to make
additional cash contributions to the Borrowers to fund certain
portions of the Development upon the occurrence of certain
conditions.  In addition to potential contributions pursuant to
the Completion Guaranty, the Company has guaranteed all payments
of interest under the Term Facility until the later of the
commencement of operations of the Octavius Tower and Project Linq
and guaranteed the performance of the Borrowers of the first lien
leverage ratio maintenance covenant by agreeing, upon certain
conditions, to make cash equity contributions to the Borrowers
from time to time pursuant to the terms of the Term Facility.  The
maximum liability of the Company under the Performance Guarantee
is $50 million.  Except in the circumstances described above,
neither the Company nor CEOC has any material obligations under
the Term Facility, and the Term Facility is non-recourse to the
Registrant or CEOC.

In connection with the Development and the Credit Agreement, each
Borrower entered into a disbursement agreement, in order to set
forth (i) the conditions upon which, and the manner in which,
funds advanced under the Term facility will be deposited in,
transferred among and disbursed from certain secured bank accounts
established in connection therewith, and (ii) certain
representations, warranties and covenants of the Borrowers.

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

                         http://is.gd/Ai9Rho

                     About Caesars Entertainment

Caesars Entertainment Corp., formerly Harrah's Entertainment Inc.
-- http://www.caesars.com/-- is one of the world's largest casino
companies, with annual revenue of $4.2 billion, 20 properties on
three continents, more than 25,000 hotel rooms, two million square
feet of casino space and 50,000 employees.  Caesars casino resorts
operate under the Caesars, Bally's, Flamingo, Grand Casinos,
Hilton and Paris brand names.  The Company has its corporate
headquarters in Las Vegas.

The Company's balance sheet at Dec. 31, 2010 showed $28.58 billion
in total assets, $26.91 billion in total liabilities and
$1.67 billion in total stockholders' equity.

Harrah's announced its re-branding to Caesar's on mid-November
2010.  Harrah's carries 'Caa3' long term corporate family and
probability of default ratings, with 'positive' outlook, from
Moody's Investors Service.  It has a 'B-' issuer credit rating,
with 'stable' outlook, from Standard & Poor's.

As reported by the TCR on March 3, 2011, Moody's Investors Service
upgraded Caesars Entertainment's Corporate Family ratings and
Probability of Default ratings to Caa2.  CET's Caa2 Corporate
Family Ratings reflect very high leverage, weak interest coverage,
the company's debt financed growth strategy, and Moody's view that
the company's current capital structure in unsustainable in the
long-term.  The ratings reflect Moody's expectation that gaming
demand will rebound very slowly over the next several years.
However, in the absence of a material de-leveraging transaction,
Moody's do not expect the company's capital structure to improve
materially over the next few years.  Additionally, given CEC's
weak credit profile, there is a possibility that the company could
again pursue transactions that will result in impairment of debt
holder claims as a means to improve its capital structure.


CARIBBEAN PETROLEUM: Plan Filing Exclusivity Extended Until June 8
------------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware has
extended Caribbean Petroleum Corp. and its Debtor affiliates'
exclusive period to file a Chapter 11 plan from March 10 through
and including June 8, 2011.

The Debtors' exclusive period for soliciting acceptances of a
Chapter 11 plan is extended for approximately 90 days from May 9,
2011 through and including Aug. 8, 2011.

                     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: Court Adjourns Confirmation Hearing to May 9
-----------------------------------------------------------------
On April 25, 2011, the U.S. Bankruptcy Court for the District of
Delaware adjourned the hearing to consider confirmation of the
Third Amended Joint Plan of the Liquidation proposed by Caribbean
Petroleum Corp., the Statutory Committee of Unsecured Creditors,
and Banco Popular De Puerto Rico, previously scheduled April 28,
2011, to May 9, 2011, at 10:00 a.m.

A status conference only will take place on April 28, 2011, at
10:00 a.m.

As reported in the Troubled Company Reporter on April 1, 2011,
under the liquidation plan, FirstBank, owed $12.2 million, will
recover 94% of its allowed claim, and BPPR, owed $146.8 million,
will get 19%.1 of its allowed claim.  Holders of unsecured claim,
owed 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.

                    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., Peter Friedman,
Esq., and Zachary H. Smith, Esq.. at Cadwalader, Wickersham & Taft
LLP, in New York, serve as lead counsel to the Debtors.  Mark D.
Collins, Esq., and Jason M. Madron, Esq., at Richards, Layton &
Finger, P.A., in Wilmington, Del., 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.


CARLISLE APARTMENTS: Court Sets May 20 Claims Filing Deadline
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
has set May 20, 2011 before 4:00 p.m. as the deadline for parties-
in-interest to assert prepetition claims.  Government units must
file a proof of claim on or before June 27, 2011.

The Carlisle Apartments, L.P., filed a Chapter 11 petition (Bankr.
S.D.N.Y. Case No. 10-16805) in Manhattan on Dec. 27, 2010.  The
Debtor estimated assets and debts of $10 million to $50 million as
of the Chapter 11 filing.  Peter Alan Zisser, Esq., at Squire,
Sanders & Dempsey LLP, in New York, serves as bankruptcy counsel
to the Debtor.  Gordian Group, LLC, is the investment banker and
financial advisor.


CARLISLE APARTMENTS: Plan Exclusivity Extended Until June 25
------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
has extended to June 25, 2011, as the deadline for The Carlisle
Apartmnets to file a Chapter 11 plan.  The Debtor's right to
solicit acceptances of the Chapter 11 plan is extended to August
24, 2011.

The Carlisle Apartments, L.P., filed a Chapter 11 petition (Bankr.
S.D.N.Y. Case No. 10-16805) in Manhattan on Dec. 27, 2010.  The
Debtor estimated assets and debts of $10 million to $50 million as
of the Chapter 11 filing.  Peter Alan Zisser, Esq., at Squire,
Sanders & Dempsey LLP, in New York, serves as bankruptcy counsel
to the Debtor.  Gordian Group, LLC, is the investment banker and
financial advisor.


CENTRALIA OUTLETS: Court Sets May 11 Prepetition Claim Bar Date
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Washington
has set May 11, 2011 as the last date for filing prepetition
claims in the Chapter 11 case of Centralia Outlets LLC.

                      About Centralia Outlets

Centralia Outlets LLC is the owner of the Centralia Factory
Outlets mall in Centralia, Washington.  The mall, located on
Interstate 5 in Centralia, is 80% occupied, and generates net
income, after debt service, of $80,000 to $100,000 a month.

Centralia filed for Chapter 11 after receiving an order sending
the mall to receivership.  Sterling Bank prevailed on a state
court to order the appointment of a receiver based on alleged non-
financial defaults in the mortgage.  The mall owner said that
principal and interest payments were current on the $24.3 million
owing to Sterling as of the petition date.

Centralia filed for Chapter 11 protection (Bankr. W.D. Wash. Case
No. 10-24529) on Dec. 3, 2010, after receiving an order sending
the mall to receivership.  James L. Day, Esq., at Bush Strout &
Kornfeld, in Seattle, Washington, represents the Debtor.  The
Debtor disclosed $29,206,999 in assets and $23,999,507 in
liabilities.


CENTRALIA OUTLETS: Wants Plan Exclusivity Extended to July 29
-------------------------------------------------------------
Centralia Outlets LLC asks the U.S. Bankruptcy Court for the
Western District of Washington to extend the exclusive period for
soliciting votes accepting the Plan through and including July 29,
2011.

The Debtor has already filed its Plan, thus it is not asking for
an extension of the exclusive period to file a plan.

The Debtor's request will be heard on May 11, 2011 at 10:00 a.m.

                      About Centralia Outlets

Centralia Outlets LLC is the owner of the Centralia Factory
Outlets mall in Centralia, Washington.  The mall, located on
Interstate 5 in Centralia, is 80% occupied, and generates net
income, after debt service, of $80,000 to $100,000 a month.

Centralia filed for Chapter 11 after receiving an order sending
the mall to receivership.  Sterling Bank prevailed on a state
court to order the appointment of a receiver based on alleged non-
financial defaults in the mortgage.  The mall owner said that
principal and interest payments were current on the $24.3 million
owing to Sterling as of the petition date.

Centralia filed for Chapter 11 protection on Dec. 3, 2010 (Bankr.
W.D. Wash. Case No. 10-24529), after receiving an order sending
the mall to receivership.  James L. Day, Esq., at Bush Strout &
Kornfeld, in Seattle, Washington, represents the Debtor.  The
Debtor disclosed $29,206,999 in assets and $23,999,507 in
liabilities.


CENTURA LAND: Files List of Largest Unsecured Creditors
-------------------------------------------------------
Centura Land Corporation filed with the U.S. Bankruptcy Court for
the Eastern District of Texas, its list of 20 largest unsecured
creditors.

The list contains only three creditors:

   Name and Address                                 Claim Amount
   ----------------                                 ------------
   Office of the Attorney General                       $864,173
   Bankruptcy - Collections Division
   PO Box 12548
   Austin, TX 78711-2548

   Shamoun & Norman LLP                                    6,073
   1755 Wittington Place
   Suite 200LB25
   Dallas, TX 75234

   Geary, Porter & Donovan, PC                             1,783
   16475 Dallas Parkway
   Suite 400
   Addison, TX 75001-6837

Plano, Texas-based Centura Land Corporation, fka IORI Centura,
Inc., filed for Chapter 11 bankruptcy protection (Bankr. E.D. Tex.
Case No. 11-41041) on April 1, 2011.  John Paul Stanford, Esq.,
who has an office in Dallas, Texas, 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.


CENTURA LAND: Files Schedules of Assets and Liabilities
-------------------------------------------------------
Centura Land Corporation filed with the U.S. Bankruptcy Court for
the Eastern District of Texas, its schedules of assets and
liabilities, disclosing:

  Name of Schedule                        Assets      Liabilities
  ----------------                        ------      -----------
A. Real Property                     $13,000,000
B. Personal Property                          $0
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                      $7,325,656
E. Creditors Holding
   Unsecured Priority
   Claims                                                $864,173
F. Creditors Holding
   Unsecured Non-priority
   Claims                                                  $7,857
                                     -----------      -----------
      TOTAL                          $13,000,000       $8,197,687

Plano, Texas-based Centura Land Corporation, fka IORI Centura,
Inc., filed for Chapter 11 bankruptcy protection (Bankr. E.D. Tex.
Case No. 11-41041) on April 1, 2011.  John Paul Stanford, Esq.,
who has an office in Dallas, Texas, 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.


CHRISTIAN BROTHERS': Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: The Christian Brothers' Institute
        21 Pryer Terrace
        New Rochelle, NY 10804

Bankruptcy Case No.: 11-22820

Chapter 11 Petition Date: April 28, 2011

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

Judge: Robert D. Drain

Debtor's Counsel: Scott S. Markowitz, Esq.
                  TARTER KRINSKY & DROGIN LLP
                  1350 Broadway, 11th Floor
                  New York, NY 10018
                  Tel: (212) 216-8000
                  Fax: (212) 216-8001
                  E-mail: smarkowitz@tarterkrinsky.com

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

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

The petition was signed by Brother Kevin Griffith, vice-president.

Debtor's List of 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Christian Brothers Foundation      Loan                 $1,812,500
33 Pryer Terrace
New Rochelle, NY 10804

Ridgewood Savings Bank             Guarantor of Loan      $150,000
71-02 Forest Avenue
Ridgewood, NY 11385

A.C.                               Tort Claim              unknown
c/o Rebecca Roe, Esq.
810 Third Avenue, Suite 500
Seattle, WA 98104

A.C.                               Tort Claim              unknown
c/o Mark Leemon, Esq.

A.S.                               Tort Claim              unknown
c/o Michael T. Pfau, Esq.

A.S.                               Tort Claim              unknown
c/o Geoffrey Budden, Esq.

C.A.                               Tort Claim              unknown
c/o Geoffrey Budden, Esq.

D.B.                               Tort Claim              unknown
c/o Richard Rogers

D.B.                               Tort Claim              unknown
c/o Roebothan McKay

D.C.                               Tort Claim              unknown
c/o Rebecca Roe, Esq.

D.C.                               Tort Claim              unknown
c/o Mark Leemon, Esq.

D.F.P.                             Tort Claim              unknown
c/o Geoffrey Budden

D.J.P.                             Tort Claim              unknown
c/o Robert Buckingham

D.P.                               Tort Claim              unknown
c/o Geoffrey Budden

D.W.                               Tort Claim              unknown
c/o Geoffrey Budden

D.W.                               Tort Claim              unknown
c/o Geoffrey Budden

E.F.                               Tort Claim              unknown
c/o Geoffrey Budden

E.H.                               Tort Claim              unknown
c/o Geoffrey Budden

E.P.                               Tort Claim              unknown
c/o Geoffrey Budden

E.T.                               Tort Claim              unknown
c/o Geoffrey Budden


CISCO BROS: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Cisco Bros. Corp.
        5955 Western Avenue
        Los Angeles, CA 90047

Bankruptcy Case No.: 11-28380

Chapter 11 Petition Date: April 27, 2011

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

Judge: Alan M. Ahart

Debtor's Counsel: Brian L. Davidoff, Esq.
                  RUTTER HOBBS & DAVIDOFF INC.
                  1901 Avenue Of The Stars, Suite 1700
                  Century City, CA 90067
                  Tel: (310) 286-1700
                  Fax: (310) 286-1728
                  E-mail: bdavidoff@rutterhobbs.com

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

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/cacb11-28380.pdf

The petition was signed by Francisco Pinedo, chief executive
officer.

Affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Francisco Pinedo and Alba E. Pinedo    10-53882   10/12/10


CLAIRE'S STORES: Bank Debt Trades at 5% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Claire's Stores,
Inc., is a borrower traded in the secondary market at 94.71 cents-
on-the-dollar during the week ended Friday, April 29, 2011, a drop
of 0.22 percentage points from the previous week according to data
compiled by Loan Pricing Corp. and reported in The Wall Street
Journal.  The Company pays 275 basis points above LIBOR to borrow
under the facility.  The bank loan matures on May 29, 2014, and
carries Moody's B3 rating and Standard & Poor's B rating.  The
loan is one of the biggest gainers and losers among 193 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

                      About Claire's Stores

Claire's Stores, Inc. -- http://www.clairestores.com/-- is a
specialty retailer offering accessories and jewelry for kids,
teens, teens, and young women in the 3 to 27age range.  The
Company is organized based on its geographic markets, which
include North American division and European division.  As of
January 30, 2010, it operated a total of 2,948 stores, of which
1,993 were located in all 50 states of the United States, Puerto
Rico, Canada, and the United States Virgin Islands (its North
American division) and 955 stores were located in the United
Kingdom, France, Switzerland, Spain, Ireland, Austria, Germany,
Netherlands, Portugal, and Belgium (its European division).  Its
stores operate under the trade names Claire's and Icing.  In
addition, as of January 30, 2010, it franchised 195 stores in the
Middle East, Turkey, Russia, South Africa, Poland, Greece,
Guatemala and Malta under franchising agreements.  It also
operates 211 stores in Japan through its Claire's Nippon 50:50
joint venture with AEON Co. Ltd.

Claire's Stores reported net income of $4.32 million on
$1.42 billion of net sales for the fiscal year ended January 29,
2011, compared with a net loss of $10.40 million on $1.34 billion
of net sales for the fiscal year ended Jan. 30, 2010.  The Company
also reported net income of $21.31 million on $421.91 million of
net sales for the three months ended January 29, 2011, compared
with net income of $19.46 million on $410.69 million of net sales
for the three months ended January 30, 2010.

The Company's balance sheet at Jan. 29, 2011, showed $2.86 billion
in total assets, $2.89 billion in total liabilities, and a
$26.51 million in stockholders' deficit.

As reported by the Troubled Company Reporter on March 15, 2011,
Moody's upgraded Claire's Stores, Inc.'s senior secured bank
credit facilities to B3 from Caa1 and its Speculative Grade
Liquidity Rating to SGL-2 from SGL-3.  All other ratings were
affirmed including Claire's Caa2 Corporate Family Rating.  The
rating outlook is positive.

The upgrade of Claire's first lien bank facilities is in response
to the repayment of $245 million of the term loan B, which reduced
the amount of senior secured first lien bank debt in the capital
structure.  The upgrade also reflects Claire's recently issued
$450 million second lien notes, which provide additional support
to the first lien bank facilities.


CLEAR CHANNEL: Bank Debt Trades at 11% Off in Secondary Market
--------------------------------------------------------------
Participations in a syndicated loan under which Clear Channel
Communications, Inc., is a borrower traded in the secondary market
at 89.00 cents-on-the-dollar during the week ended Friday, April
29, 2011, an increase of 0.21 percentage points from the previous
week according to data compiled by Loan Pricing Corp. and reported
in The Wall Street Journal.  The Company pays 365 basis points
above LIBOR to borrow under the facility.  The bank loan matures
on January 30, 2016, and carries Moody's Caa1 rating and Standard
& Poor's CCC+ rating.  The loan is one of the biggest gainers and
losers among 193 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.

                  About CC Media and Clear Channel

Clear Channel Communications, Inc. --
http://www.clearchannel.com/--is a diversified media company with
three primary business segments: radio broadcasting, outdoor
advertising and live entertainment.  Clear Channel (OTCBB:CCMO) is
the operating subsidiary of San Antonio, Texas-based CC Media
Holdings, Inc.

CC Media's balance sheet at December 31, 2010, showed $17.48
billion in total assets, $1.25 billion in current liabilities,
$20.61 billion in long-term liabilities and a $7.20 billion
shareholders' deficit.

                             *     *     *

CC Media Holdings carries 'CCC+' issuer credit ratings from
Standard & Poor's.  Clear Channel Carries a 'Caa2' corporate
family rating from Moody's Investors Service and an issuer default
rating of 'CCC' from Fitch Ratings.

Fitch said in November 2010, that its ratings concerns center on
the company's highly leveraged capital structure, with significant
maturities in 2014 and 2016; the considerable interest burden that
pressures free cash flow generation; technological threats and
secular pressures in radio broadcasting; and the company's
exposure to cyclical advertising revenue.  The ratings are
supported by the company's leading position in both the outdoor
and radio industries, as well as the positive fundamentals and
digital opportunities in the outdoor advertising space.

In February 2011, Standard & Poor's affirmed its 'CCC+' corporate
credit rating and positive outlook on CC Media Holdings and
operating subsidiary Clear Channel, which S&P views on a
consolidated basis.  S&P said the 'CCC+' CCR on CC Media Holdings
reflects the risks surrounding the longer-term viability of the
company's capital structure -- in particular, refinancing risk
relating to sizable secured debt maturities in 2014 ($3.2 billion
pro forma for the transaction) and 2016 ($10.4 billion).  In S&P's
view, the Company has a satisfactory business risk profile, due to
its position as the largest radio and global outdoor advertising
operator, its good geographic and market diversity, and moderate
long-term growth prospects at the outdoor business.  S&P views the
financial risk profile as highly leveraged, given the Company's
significant refinancing risk, roughly break-even EBITDA coverage
of interest expense, and slim discretionary cash flow.


CLUB METRO: Case Summary & 2 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Club Metro Investments, LLC
        55 E. Long Lake Rd.
        Troy, MI 48085

Bankruptcy Case No.: 11-51961

Chapter 11 Petition Date: April 27, 2011

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

Judge: Phillip J. Shefferly

Debtor's Counsel: Morris B. Lefkowitz, Esq.
                  LAW OFFICE OF MORRIS B. LEFKOWITZ
                  24100 Southfield Rd., Suite 203
                  Southfield, MI 48075
                  Tel: (248) 559-0180
                  E-mail: morris.lefkowitz@yahoo.com

Scheduled Assets: $8,004,000

Scheduled Debts: $6,597,092

A list of the Company's two largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/mieb11-51961.pdf

The petition was signed by Hanna Karcho, managing member.


CMHA-TCB I: Employs Reznick Group as Accountants
------------------------------------------------
CMHA-TCB Laurel Homes I Limited Partnership and CMHA-TCB Laurel
Homes V Limited Partnership sought and obtained authority from the
U.S. Bankruptcy Court for the Southern District of Ohio to employ
Reznick Group P.C. as their accountants.

Except for fees and expenses related to services for preparing
2010 year-end audited financial statements, Reznick will submit
interim and final applications for compensation and reimbursement
of expenses in accordance with the Federal Rules of Bankruptcy
Procedure, the Local Bankruptcy Rules, and other and further
orders as the Court may enter.

                       About CMHA/TCB Laurel

CMHA/TCB Laurel Homes I Limited Partnership and CMHA/TCB Laurel
Homes V Limited Partnership own and operate phases of the City
West Housing Development located in the West End of Cincinnati.
The Laurel Homes I and Laurel Homes V phases of the City West
Housing Development, together with all other phases of the City
West Housing Development, are managed by The Community Builders,
Inc.

CMHA/TCB V filed for Chapter 11 bankruptcy protection (Bankr. S.D.
Ohio Case No. 11-11966) on March 31, 2011.  Charles M. Meyer,
Esq., at Santen & Hughes, serves as the Debtor's bankruptcy
counsel.  The Debtor estimated its assets and debts at $10 million
to $50 million.

Affiliate CMHA/TCB I Limited Partnership filed a separate Chapter
11 petition on March 31, 2011 (Bankr. S.D. Ohio Case No. 11-
11953).


CMHA-TCB I: Files Schedules of Assets and Liabilities
-----------------------------------------------------
CMHA/TCB Laurel Homes I Limited Partnership filed with the U.S.
Bankruptcy Court for the Southern District of Ohio, its schedules
of assets and liabilities, disclosing:

  Name of Schedule                        Assets      Liabilities
  ----------------                        ------      -----------
A. Real Property                      $4,440,000
B. Personal Property                    $382,198
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                      $8,742,382
E. Creditors Holding
   Unsecured Priority
   Claims                                                      $0
F. Creditors Holding
   Unsecured Non-priority
   Claims                                              $1,094,956
                                     -----------      -----------
      TOTAL                           $4,822,198       $9,837,338

                       About CMHA/TCB Laurel

CMHA/TCB Laurel Homes I Limited Partnership and CMHA/TCB Laurel
Homes V Limited Partnership own and operate phases of the City
West Housing Development located in the West End of Cincinnati.
The Laurel Homes I and Laurel Homes V phases of the City West
Housing Development, together with all other phases of the City
West Housing Development, are managed by The Community Builders,
Inc.

CMHA/TCB V filed for Chapter 11 bankruptcy protection (Bankr. S.D.
Ohio Case No. 11-11966) on March 31, 2011.  Charles M. Meyer,
Esq., at Santen & Hughes, serves as the Debtor's bankruptcy
counsel.  The Debtor estimated its assets and debts at $10 million
to $50 million.

Affiliate CMHA/TCB I Limited Partnership filed a separate Chapter
11 petition on March 31, 2011 (Bankr. S.D. Ohio Case No. 11-
11953).


CMHA-TCB V: Files Schedules of Assets and Liabilities
-----------------------------------------------------
CMHA/TCB Laurel Homes V Limited Partnership filed with the U.S.
Bankruptcy Court for the Southern District of Ohio, its schedules
of assets and liabilities, disclosing:

  Name of Schedule                        Assets      Liabilities
  ----------------                        ------      -----------
A. Real Property                      $3,180,000
B. Personal Property                    $134,851
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                      $8,084,035
E. Creditors Holding
   Unsecured Priority
   Claims                                                      $0
F. Creditors Holding
   Unsecured Non-priority
   Claims                                                $460,600
                                     -----------      -----------
      TOTAL                           $3,314,851       $8,544,635

                       About CMHA/TCB Laurel

CMHA/TCB Laurel Homes I Limited Partnership and CMHA/TCB Laurel
Homes V Limited Partnership own and operate phases of the City
West Housing Development located in the West End of Cincinnati.
The Laurel Homes I and Laurel Homes V phases of the City West
Housing Development, together with all other phases of the City
West Housing Development, are managed by The Community Builders,
Inc.

CMHA/TCB V filed for Chapter 11 bankruptcy protection (Bankr. S.D.
Ohio Case No. 11-11966) on March 31, 2011.  Charles M. Meyer,
Esq., at Santen & Hughes, serves as the Debtor's bankruptcy
counsel.  The Debtor estimated its assets and debts at $10 million
to $50 million.

Affiliate CMHA/TCB I Limited Partnership filed a separate Chapter
11 petition on March 31, 2011 (Bankr. S.D. Ohio Case No. 11-
11953).


COMMERCIAL VEHICLE: Reports $3.27-Mil. Net Income 1st Quarter
-------------------------------------------------------------
Commercial Vehicle Group, Inc., reported net income of $3.27
million on $182.51 million of revenue for the three months ended
March 31, 2011, compared with net income of $676,000 on $146.40
million of revenue for the same period during the prior year.

The Company's balance sheet at March 31, 2011, showed
$306.60 million in total assets, $300.81 million in total
liabilities, and $5.79 million in total stockholders' investment.

"We are very pleased with our first quarter results as we continue
to see positive trends through market improvements and the impact
of new business," said Mervin Dunn, president and chief executive
officer of Commercial Vehicle Group.  "This past quarter marks the
highest revenue levels we have achieved since the third quarter of
2008 and the highest operating income we have achieved since the
first quarter of 2007 when excluding non-operating items such as
restructuring charges, asset impairments and gains on the sale of
assets.  As we move forward, our focus remains on long-term growth
initiatives and bottom line improvements," added Mr. Dunn.

A full-text copy of the press release announcing the financial
results is available for free at http://is.gd/45ghat

                  About Commercial Vehicle Group

New Albany, Ohio-based Commercial Vehicle Group, Inc., (Nasdaq:
CVGI) supplies fully integrated system solutions for the global
commercial vehicle market, including the heavy-duty truck market,
the construction and agricultural markets, and the specialty and
military transportation markets.  The Company has facilities
located in the United States in Arizona, Indiana, Illinois, Iowa,
North Carolina, Ohio, Oregon, Tennessee, Virginia and Washington
and outside of the United States in Australia, Belgium, China,
Czech Republic, Mexico, Ukraine and the United Kingdom.

                        *     *     *

Commercial Vehicle carries a 'Caa2' Corporate Family Rating and
'Caa2/LD' Probability of Default Rating from Moody's.  It has
'CCC+' issuer credit ratings from Standard & Poor's.

In mid-October 2010, Moody's Investors Service upgraded Commercial
Vehicle Group, Inc.'s Corporate Family Rating to Caa1 from Caa2,
and revised the ratings outlook to positive from negative.  These
positive actions recognize the continuing improvement in the build
rates for commercial vehicles and the realized benefits of the
company's operating and capital restructurings.  According to
Moody's, the Caa1 CFR reflects modest size, high debt leverage,
and exposure to highly cyclical commercial vehicle end markets.
Demand for commercial vehicle components is sensitive to both
economic cycles and regulatory implementation schedules.

As reported by the TCR on April 12, 2011, Standard & Poor's
Ratings Services said it raised its corporate credit rating on New
Albany, Ohio-based Commercial Vehicle Group Inc. (CVG) to 'B-'
from 'CCC+'.  "The upgrade reflects our assumption that CVG can
improve EBITDA and cash flow in the next two years, because we
believe commercial truck production volumes will continue to rise
year-over-year in 2011 and 2012," said Standard & Poor's credit
analyst Nancy Messer.  Heavy-duty truck production increased by a
meaningful 30% in 2010, leading to a 30% year-over-year sales
increase.


COMMERCIAL VEHICLE: Gets Requisite Consents to Amend Indentures
---------------------------------------------------------------
Commercial Vehicle Group, Inc., has received, pursuant to its
previously announced cash tender offers and consent solicitations
with respect to all of its outstanding 8% Senior Notes due 2013
and all of its outstanding 11%/13% Third Lien Senior Secured Notes
due 2013, the requisite consents to adopt proposed amendments to
each indenture governing the Notes and, in the case of the 2009
Notes, to the related security documents.  The Proposed Amendments
would, among other things, (i) eliminate substantially all of the
restrictive covenants contained in the indentures, (ii) eliminate
or modify certain events of default contained in the indentures,
(iii) eliminate or modify related provisions contained in the
indentures and (iv) with respect to the 2009 Notes, eliminate
certain conditions to covenant defeasance contained in the
indenture governing such notes and release the liens in respect of
those notes.

The Company announced that consents had been delivered with
respect to (i) $94,925,000 of the 2005 Notes, representing
approximately 97.1% of the outstanding aggregate principal amount
of 2005 Notes, which notes had been validly tendered as of 5:00
p.m., New York City time, on April 21, 2011, and (ii) $47,956,282
of the 2009 Notes, representing 100.0% of the outstanding
aggregate principal amount of 2009 Notes, which notes had been
validly tendered as of the Consent Date.  In conjunction with
receiving the requisite consents, the Company, the guarantors
party to the applicable indenture and U.S. Bank National
Association, as trustee, executed supplemental indentures with
respect to each indenture governing the Notes implementing the
Proposed Amendments.  The supplemental indentures became effective
upon execution, but the Proposed Amendments will not become
operative until acceptance of the Notes for purchase by the
Company pursuant to the terms and conditions described in the
Offer to Purchase.

The tender offers and consent solicitations are being made upon
the terms and subject to the conditions set forth in the related
Offer to Purchase and Consent Solicitation Statement dated
April 8, 2011.  Holders who validly tendered their Notes and
delivered their consents on or prior to the Consent Date are
eligible to receive the applicable total consideration.  A
holder's right to validly withdraw tendered Notes and validly
revoke delivered consents expired on the Consent Date.

The Company's obligation to accept for purchase and to pay for the
Notes validly tendered and consents validly delivered, pursuant to
the Offer to Purchase, is subject to, and conditioned upon,
certain conditions, including: (a) the receipt by the Company of
the proceeds from a previously announced issuance of new senior
secured notes and the concurrent amendment and restatement of the
Company's existing revolving credit facility; (b) the receipt of
the consents of holders of at least a majority of the outstanding
aggregate principal amount of each of the 2005 Notes and the 2009
Notes, which condition has been satisfied; (c) the execution of
the supplemental indentures giving effect to the Proposed
Amendments, which condition has been satisfied; and (d) the
satisfaction of other general conditions set forth in the Offer to
Purchase.

Upon acceptance by the Company, holders who validly tendered their
Notes on or prior to the Consent Date will receive: (i) with
respect to 2005 Notes, total consideration of $1,020 per $1,000
principal amount of such Notes, which includes $990 as the tender
offer consideration and $30 as a consent payment, and (ii) with
respect to 2009 Notes, total consideration of $1,110 per $1,000
principal amount of those Notes, which includes $1,080 as the
tender offer consideration and $30 as a consent payment.  In
addition, accrued interest up to, but not including, the
applicable payment date of the Notes, expected to be on April 26,
2011, will be paid in cash on all Notes validly tendered and
accepted by the Consent Date.

Holders who validly tender their Notes after the Consent Date, but
on or prior to 11:59 p.m., New York City time, on May 5, 2011,
unless extended or earlier terminated by the Company, and whose
Notes are accepted for payment, will receive: (i) with respect to
2005 Notes, the tender offer consideration equal to $990 per
$1,000 principal amount of such Notes, and (ii) with respect to
2009 Notes, the tender offer consideration equal to $1,080 per
$1,000 principal amount of such Notes.  In addition, accrued
interest up to, but not including, the applicable payment date of
the Notes will be paid in cash on all Notes validly tendered and
accepted after the Consent Date but prior to the Expiration Date.
Holders of Notes who tender after the Consent Date will not
receive a consent payment.

Any Notes not tendered and purchased pursuant to the tender offers
will remain outstanding, and the holders thereof will be bound by
the Proposed Amendments contained in the applicable supplemental
indenture even though they have not consented to the Proposed
Amendments.  The Company intends to redeem any Notes that remain
outstanding after the consummation of the Tender Offers in
accordance with the terms of the applicable indenture.
None of the Company's board of directors, the dealer manager and
solicitation agent or any other person makes any recommendation as
to whether holders of Notes should tender their Notes or deliver
the related consents, and no one has been authorized to make such
a recommendation.

Requests for the Offer Documents may be directed to D.F. King &
Co., Inc. at (212) 269-5550 (for bankers and brokers) or (888)
628-9011 (for all others).

A full-text copy of the Supplemental Indenture is available for
free at http://is.gd/QXHtLH

                  About Commercial Vehicle Group

New Albany, Ohio-based Commercial Vehicle Group, Inc., (Nasdaq:
CVGI) supplies fully integrated system solutions for the global
commercial vehicle market, including the heavy-duty truck market,
the construction and agricultural markets, and the specialty and
military transportation markets.  The Company has facilities
located in the United States in Arizona, Indiana, Illinois, Iowa,
North Carolina, Ohio, Oregon, Tennessee, Virginia and Washington
and outside of the United States in Australia, Belgium, China,
Czech Republic, Mexico, Ukraine and the United Kingdom.

The Company's balance sheet at March 31, 2011 showed $306.60
million in total assets, $300.81 million in total liabilities and
$5.79 million in total stockholders' investment.

                        *     *     *

Commercial Vehicle carries a 'Caa2' Corporate Family Rating and
'Caa2/LD' Probability of Default Rating from Moody's.  It has
'CCC+' issuer credit ratings from Standard & Poor's.

In mid-October 2010, Moody's Investors Service upgraded Commercial
Vehicle Group, Inc.'s Corporate Family Rating to Caa1 from Caa2,
and revised the ratings outlook to positive from negative.  These
positive actions recognize the continuing improvement in the build
rates for commercial vehicles and the realized benefits of the
company's operating and capital restructurings.  According to
Moody's, the Caa1 CFR reflects modest size, high debt leverage,
and exposure to highly cyclical commercial vehicle end markets.
Demand for commercial vehicle components is sensitive to both
economic cycles and regulatory implementation schedules.

As reported by the TCR on April 12, 2011, Standard & Poor's
Ratings Services said it raised its corporate credit rating on New
Albany, Ohio-based Commercial Vehicle Group Inc. (CVG) to 'B-'
from 'CCC+'.  "The upgrade reflects our assumption that CVG can
improve EBITDA and cash flow in the next two years, because we
believe commercial truck production volumes will continue to rise
year-over-year in 2011 and 2012," said Standard & Poor's credit
analyst Nancy Messer.  Heavy-duty truck production increased by a
meaningful 30% in 2010, leading to a 30% year-over-year sales
increase.


COMMUNITY CENTRAL BANK: Closed; Talmer Bank Assumes All Deposits
----------------------------------------------------------------
Community Central Bank of Mount Clemens, Mich., was closed on
Friday, April 29, 2011, by the Michigan Office of Financial and
Insurance Regulation, which appointed the Federal Deposit
Insurance Corporation as receiver.  To protect the depositors, the
FDIC entered into a purchase and assumption agreement with Talmer
Bank & Trust of Troy, Mich., formerly known as First Michigan
Bank, to assume all of the deposits of Community Central Bank.

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

As of Dec. 31, 2010, Community Central Bank had around
$476.3 million in total assets and $385.4 million in total
deposits.  Talmer Bank & Trust will pay the FDIC a premium of
0.25% to assume all of the deposits of Community Central Bank.  In
addition to assuming all of the deposits of the failed bank,
Talmer Bank & Trust agreed to purchase essentially all of the
assets.

The FDIC and Talmer Bank & Trust entered into a loss-share
transaction on $362.4 million of Community Central Bank's assets.
Talmer Bank & Trust will share in the losses on the asset pools
covered under the loss-share agreement.  The loss-share
transaction is projected to maximize returns on the assets covered
by keeping them in the private sector.  The transaction also is
expected to minimize disruptions for loan customers.  For more
information on loss share, please visit:

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

Customers who have questions about the transaction can call the
FDIC toll-free at 1-800-894-6992.  Interested parties also can
visit the FDIC's Web site at

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

The FDIC estimates that the cost to the Deposit Insurance Fund
will be $183.2 million.  Compared to other alternatives, Talmer
Bank & Trust's acquisition was the least costly resolution for the
FDIC's DIF.  Community Central Bank is the 39th FDIC-insured
institution to fail in the nation this year, and the second in
Michigan.  The last FDIC-insured institution closed in the state
was Peoples State Bank, Hamtramck, on February 11, 2011.


COMMUNITY HEALTH: 2014 Debt Trades at 2% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which Community Health
Systems, Inc., is a borrower traded in the secondary market at
97.63 cents-on-the-dollar during the week ended Friday, April 29,
2011, a drop of 0.19 percentage points from the previous week
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  The Company pays 225 basis points above
LIBOR to borrow under the facility.  The bank loan matures on July
25, 2014, and carries Moody's Ba3 rating and Standard & Poor's BB
rating.  The loan is one of the biggest gainers and losers among
193 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.

                      About Community Health

Based in Franklin, Tennessee, Community Health Systems, Inc. --
http://www.chs.net/-- is the largest publicly traded operator of
hospitals in the United States in terms of number of facilities
and net operating revenues.  The company provides healthcare
services through these hospitals that it owns and operates in non-
urban and selected urban markets throughout the United States.
The company also owns and operates home health agencies, including
four home health agencies located in markets where it does not
operate a hospital.  Through its wholly owned subsidiary, Quorum
Health Resources, LLC, the company provides management and
consulting services to non-affiliated general acute care hospitals
located throughout the United States.

As reported by the Troubled Company Reporter on Dec. 14, 2010,
Fitch Ratings has placed Community Health Systems, Inc.'s ratings
on Rating Watch Negative.  Community's existing ratings are Issuer
Default Rating, at 'B'; Secured Bank Credit Facility, at 'BB/RR1';
and Senior Unsecured Notes, at 'B/RR4'.  The ratings apply to
approximately $8.9 billion in debt outstanding as of September 30,
2010.

Community's ratings have been placed on Negative Watch following
the company's bid to acquire Tenet Healthcare Corp.  Fitch
believes that should Community be successful in its bid to acquire
Tenet, it will add pressure to Community's credit profile.  Based
on what is known about the terms of Community's bid for Tenet, the
transaction as currently contemplated could add roughly $2.7
billion in debt to the consolidated capital structure.  At
September 30, 2010, Community's total debt-to-EBITDA equaled 5.1x,
and pro forma for the transaction Fitch believes debt of the
consolidated company could approach 5.8x EBITDA -- prior to the
realization of any potential operating synergies.


COMMUNITY HEALTH: 2011 Debt Trades at 2% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which Community Health
Systems, Inc., is a borrower traded in the secondary market at
98.46 cents-on-the-dollar during the week ended Friday, April 29,
2011, a drop of 0.24 percentage points from the previous week
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  The Company pays 350 basis points above
LIBOR to borrow under the facility.  The bank loan matures on July
25, 2017, and carries Moody's Ba3 rating and Standard & Poor's BB
rating.  The loan is one of the biggest gainers and losers among
193 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.

                      About Community Health

Based in Franklin, Tennessee, Community Health Systems, Inc. --
http://www.chs.net/-- is the largest publicly traded operator of
hospitals in the United States in terms of number of facilities
and net operating revenues.  The company provides healthcare
services through these hospitals that it owns and operates in non-
urban and selected urban markets throughout the United States.
The company also owns and operates home health agencies, including
four home health agencies located in markets where it does not
operate a hospital.  Through its wholly owned subsidiary, Quorum
Health Resources, LLC, the company provides management and
consulting services to non-affiliated general acute care hospitals
located throughout the United States.

As reported by the Troubled Company Reporter on Dec. 14, 2010,
Fitch Ratings has placed Community Health Systems, Inc.'s ratings
on Rating Watch Negative.  Community's existing ratings are Issuer
Default Rating, at 'B'; Secured Bank Credit Facility, at 'BB/RR1';
and Senior Unsecured Notes, at 'B/RR4'.  The ratings apply to
approximately $8.9 billion in debt outstanding as of September 30,
2010.

Community's ratings have been placed on Negative Watch following
the company's bid to acquire Tenet Healthcare Corp.  Fitch
believes that should Community be successful in its bid to acquire
Tenet, it will add pressure to Community's credit profile.  Based
on what is known about the terms of Community's bid for Tenet, the
transaction as currently contemplated could add roughly $2.7
billion in debt to the consolidated capital structure.  At
September 30, 2010, Community's total debt-to-EBITDA equaled 5.1x,
and pro forma for the transaction Fitch believes debt of the
consolidated company could approach 5.8x EBITDA -- prior to the
realization of any potential operating synergies.


CORTEZ COMMUNITY BANK: Closed; Premier American Assumes Deposits
----------------------------------------------------------------
Premier American Bank, National Association, of Miami, Fla.,
acquired the banking operations, including all the deposits, of
two Florida-based banks.  To protect depositors, the Federal
Deposit Insurance Corporation entered into purchase and assumption
agreements with Premier American Bank, N.A.

On Friday, April 29, 2011, First National Bank of Central Florida
of Winter Park, Fla., was closed by the Office of the Comptroller
of the Currency, which appointed the FDIC as receiver, and Cortez
Community Bank of Brooksville, Fla., was closed by the Florida
Office of Financial Regulation, which appointed the FDIC as
receiver.

All eight branches of the two closed banks will reopen during
normal business hours as branches of Florida Community Bank, a
division of Premier American Bank, N.A.  Depositors of the two
failed banks will automatically become depositors of Florida
Community Bank.  Deposits will continue to be insured by the FDIC,
so there is no need for customers to change their banking
relationship in order to retain their deposit insurance coverage
up to applicable limits.  First National Bank of Central Florida
had six branches; and Cortez Community Bank had two branches.

As of December 31, 2010, First National Bank of Central Florida
had total assets of $352.0 million and total deposits of $312.1
million; and Cortez Community Bank had total assets of $70.9
million and total deposits of $61.4 million.  Besides assuming all
the deposits from the two Florida banks, Florida Community Bank
will purchase essentially all of their assets.

The FDIC and Premier American Bank, N.A., entered into loss-share
transactions on the failed banks' assets.  The loss-share
transaction for First National Bank of Central Florida was $270.0
million; and the loss-share transaction for Cortez Community Bank
was $51.3 million.  Premier American Bank, N.A., will share in the
losses on the asset pools covered under the loss-share agreements.
The loss-share transactions are projected to maximize returns on
the assets covered by keeping them in the private sector.  The
transactions also are expected to minimize disruptions for loan
customers.  For more information on loss share, please visit:

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

Customers who have questions about the transactions can call the
FDIC toll free: for First National Bank of Central Florida
customers, 1-800-894-3199; and for Cortez Community Bank
customers, 1-800-894-2927.  Interested parties also can visit the
FDIC's Web sites:
http://www.fdic.gov/bank/individual/failed/fnbcf.html

and http://www.fdic.gov/bank/individual/failed/cortez.html

The FDIC estimates that the cost to the Deposit Insurance Fund for
First National Bank of Central Florida will be $42.9 million; and
for Cortez Community Bank, $18.6 million.  Premier American Bank,
N.A.'s acquisition of all the deposits of the two institutions was
the "least costly" option for the DIF compared to all
alternatives.

The closings are the 35th and 36th FDIC-insured institutions to
fail in the nation so far this year and the third and fourth in
Florida.  Prior to April 29, the last bank closed in the state was
Sunshine State Community Bank, Port Orange, on February 11, 2011.


CROSS COUNTY: Files List of 20 Largest Unsecured Creditors
----------------------------------------------------------
Cross County National Associates, LP filed with the U.S.
Bankruptcy Court for the Eastern District of Texas, its list of 20
largest unsecured creditors:

   Name and Address                                 Claim Amount
   ----------------                                 ------------
   ADT Security Services                                  $2,497
   P.0. Box 371967
   Pittsburgh, PA 15250

   Ameren Illinois                                         9,931
   P.0. Box 66884
   Saint Louis, MO 63166

   Aramark Uniform Service                                   538
   P.0. Box 329
   Evansville, IN 47702

   Brown-Woods & Associates, Inc.                         37,500
   2613 S. Rising Road
   Champaign, IL 61822

   Cellular One of EC Illinois                             1,100
   Suite 30
   700 Broadway Avenue East
   Mattoon, IL 61938

   City of Matoon Water & Sewer                              602
   P.0. Box 99
   Mattoon, IL 61938

   Coles County Treasurer                                559,692
   P.0. Box 346
   Charleston, IL 61920

   Community Health Improvement                            1,710
   Suite 39
   700 Broadway Avenue East
   Mattoon, IL 61938

   Cross County Mall Merchants' Association                  641
   700 Broadway Avenue East
   Mattoon, IL 61938

   Denton County Tax Assessor Collector                    1,109
   1505 E. McKinney Street
   Denton, TX 76209

   Dodds Company                                           3,000
   P.0. Box 6449
   Champaign, IL 61826

   Illinois Consolidated Communications                      254
   P.0. Box 2564
   Decatur, IL 62525

   Jumbo Buffet                                            3,500
   Suite 27
   700 Broadway Avenue East
   Mattoon, IL 61938

   Lorenz Wholesale                                          484
   P.0. Box 1411
   Mattoon, IL 61938

   M.S.A. Professional Services                            4,014
   P.0. Box 435
   Baraboo, WI 53913

   Mom's Legendary Food                                    1,000
   Suite 18
   700 Broadway Avenue East
   Mattoon, IL 61938

   Premier Video                                           4,000
   Suite 41
   700 Broadway Avenue East
   Mattoon, IL 61938

   Pro Nails                                               1,200
   Suite 21
   700 Broadway Avenue East
   Mattoon, IL 61938

   RK Dixon                                                  455
   5700 Utica Ridge Road
   Davenport, IA 52807

   Tarrant County Tax Assessor                            11,804
   100 E. Weatherford Street
   Fort Worth, TX 76196

Plano, Texas-based Cross County National Associates, LP, dba Cross
County Mall, filed for Chapter 11 bankruptcy protection (Bankr.
E.D. Tex. Case No. 11-40915) on March 28, 2011.  John P. Lewis,
Jr., Esq., who has an office in Dallas, Texas, serves as the
Debtor's bankruptcy counsel.  The Debtor estimated its assets and
debts at $10 million to $50 million.


DELPHI AUTOMOTIVE: S&P Assigns 'BB' Corporate Credit Rating
-----------------------------------------------------------
Standard & Poor's Ratings Services assigned its preliminary 'BB'
corporate credit rating on global auto supplier Delphi Automotive
LLP, which has its headquarters in Troy, Mich. "We also assigned
preliminary issue ratings on Delphi Corporation's various proposed
debt. The outlook is stable," S&P stated.

"The preliminary 'BB' corporate credit rating on Delphi reflects
our view of the company's significant financial risk profile,"
said Standard & Poor's credit analyst Nancy Messer, "including
lease-adjusted total debt to EBITDA that we expect will remain at
about 2x over the next two years and its weak business risk
profile."

"The business risk profile reflects its participation in the
volatile and competitive global auto supplier industry," added Ms.
Messer. The industry is highly cyclical and characterized by high
fixed costs, capital intensity, volatile raw material costs, and
intense pricing pressure from customers and competitors. The
rating also incorporates Standard & Poor's view of Delphi's
liquidity as adequate under our criteria and our opinion that the
company will generate free cash flow over the next two years.


DELPHI CORP: Moody's Assigns Ba2 Corporate Family Rating
--------------------------------------------------------
Moody's Investors Service assigned initial ratings to Delphi
Corporation's (Delphi) - Corporate Family and Probability of
Default Ratings at Ba2. In a related action Moody's assigned a
Baa3 rating to Delphi's new senior secured credit facilities, and
a Ba3 rating to Delphi's new senior unsecured notes. The
Speculative Grade Liquidity Rating is SGL-2. The rating outlook is
stable.

Delphi is the U.S. based subsidiary of Delphi Automotive, LLP
(DAL), which was created to acquire, through a 363 bankruptcy
sale, certain assets of the former Delphi Corporation (the
Predecessor). As a result of that process, DAL incorporates
largely the non-U.S. operations of the Predecessor, and excludes
the unprofitable U.S. based operations as well as the debt and
legacy pension, OPEB and other obligations of the Predecessor.
Following the reorganization process, a portion of DAL's equity
was held by General Motors Corporation and the Pension Benefits
Guarantee Corporation (PBGC). On March 31, 2011 DAL purchased the
Class A and C equity interests owned by GM and the PBGC for $4.4
billion. The transaction was funded with $2.3 billion of cash and
$2.5 billion of debt. The new senior secured term loans and
unsecured notes being issued by Delphi, and guaranteed by DAL,
will refinance the debt incurred to fund the share repurchase.

These ratings were assigned:

   Delphi Corporation:

   -- Corporate Family Rating, Ba2;

   -- Probability of Default, Ba2;

   -- Baa3 (LGD2, 22%), for the $1.0 billion senior secured
      revolving credit facility;

   -- Baa3 (LGD2, 22%), for the $250 million senior secured term
      loan A;

   -- Baa3 (LGD2, 22%), for the $1.15 billion senior secured term
      loan B;

   -- Ba3 (LGD4, 66%), for the $1.1 billion guaranteed senior
      unsecured notes

   -- SGL-2, Speculative Grade Liquidity Rating

RATINGS RATIONALE

The Ba2 Corporate Family Rating (CFR) reflects DAL's modest
leverage with debt/EBITDA of about 2.4x (as adjusted by Moody's)
for the proposed debt issue, and the expectation that strong
margins from ongoing business operations will support favorable
debt service metrics over the intermediate term. The business
maintained a high level of product investment and was able to
sustain its competitive position as a supplier of automotive
components to major automotive OEM's through the bankruptcy
reorganization process. About 30% of the company's revenues are
derived from component sales to Ford Motor Company and General
Motors Company; although this is lower degree of customer
concentration than had existed at the Predecessor company, it
still poses some risk as these two OEM's rebuild their businesses.
Geographic concentrations have also improved with North America
representing about 33% of 2010 revenues and Europe representing
about 42%. However, each of Delphi's business segments continues
to be highly competitive with major regional participants.

DAL's EBIT margin (as adjusted by Moody's) for the year ended
12/31/10 was about 9%, which is well above the margin levels
reported by the Predecessor. Restructuring actions taken to
improve margins include: facility closures, the sale of
businesses, and global headcount reductions. A large portion of
the hourly workforce are now in low cost manufacturing locations.
While executing the above items, DAL continued to book new
business and has benefited from recovering volumes in the
automotive industry.

Following the refinancing transaction, DAL's capital structure is
expected to be well suited for current automotive industry
conditions. With a little over half of the funded debt structure
comprised of senior secured term debt, DAL is positioned to use
excess free cash flow to prepay debt without penalties.

The stable rating outlook reflects Moody's view that DAL is well
positioned to benefit from recovering automotive industry
conditions. However, further profit improvement could be tempered
by increasing raw material cost pressures. Delphi's ability to
sustain recently achieved margins over the intermediate-term could
positively impact the rating or outlook.

The SGL-2 Speculative Grade Liquidity Rating anticipates that the
company will maintain a good liquidity profile over the next
twelve months, supported by strong cash balances, availability
under its revolving credit facility and our expectation of
positive free cash flow generation over the near-term. As of
December 31, 2010, DAL had unrestricted cash and cash equivalents
of $3.2 billion and $550 million of short-term investments. The
company used $2.3 billion of this cash on March 31, 2011 as part
of the purchase price for the outstanding shares held by GM and
the PBGC. Over the near-term DAL is anticipated to generate
positive free cash flow after minimal term loan amortization
requirements and higher levels of capital expenditures to support
new business. The new $1 billion revolving credit facility is
expected to be unfunded at closing with about $19 million of
letters of credit outstanding. Financial covenants under the
senior secured term loan are expected to include a net leverage
ratio test for which the company is expected to maintain ample
covenant cushion over the near-term. Alternate liquidity is
supported by a debt incurrence basket under the credit facilities
which permits additional amounts of foreign account receivable
factoring and other foreign debt.

Factors that have the potential to improve Delphi's rating or
outlook include: sustaining EBIT margins above 10% and Debt/EBITDA
sustained below 2.0x supported by continued growth automotive
demand and measured policies toward acquisitions and shareholder
actions, while maintaining a good liquidity profile.

Factors that have the potential to lower Delphi's rating or
outlook include: deterioration of automotive demand or greater raw
material cost pressures resulting in EBIT margins approaching 7%,
as well as debt funded acquisitions or other shareholder actions.
Consideration for a lower outlook or rating could result if any of
these factors lead to Debt/EBITDA above 2.5x or a deterioration in
liquidity.

The principal methodology used in rating Delphi was the Global
Automotive Supplier Industry Methodology, published January 2009.
Other methodologies used include Loss Given Default for
Speculative Grade Issuers in the US, Canada, and EMEA, published
June 2009.

Delphi Automotive, LLP (DAL), is a supplier of vehicle
electronics, transportation components, integrated systems and
modules, and other electronic technology. Delphi operates globally
and has a diverse customer base, including every major vehicle
manufacturer. Revenues in 2010 were approximately $13.8 billion.


DEX MEDIA EAST: Bank Debt Trades at 21% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Dex Media East LLC
is a borrower traded in the secondary market at 79.25 cents-on-
the-dollar during the week ended Friday, April 29, 2011, an
increase of 0.46 percentage points from the previous week
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  The Company pays 250 basis points above
LIBOR to borrow under the facility.  The bank loan matures on
October 24, 2014.  The loan is one of the biggest gainers and
losers among 193 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.

                       About Dex Media East

Based in Cary, North Carolina, R.H. Donnelley Corp., fka The Dun &
Bradstreet Corp. (NYSE: RHD) --http://www.rhdonnelley.com/--
publishes and distributes print and online directories in the U.S.
It offers print directory advertising products, such as yellow
pages and white pages directories.  R.H. Donnelley Inc., Dex
Media, Inc., and Local Launch, Inc., are the company's only direct
wholly owned subsidiaries.

Dex Media East LLC is a publisher of the official yellow pages and
white pages directories for Qwest Communications International
Inc. (Qwest) in the states, where Qwest is the primary incumbent
local exchange carrier, such as Colorado, Iowa, Minnesota,
Nebraska, New Mexico, North Dakota and South Dakota.

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

The Debtors emerged from Chapter 11 bankruptcy proceedings at the
end of January 2010.


DIABETES AMERICA: Seeks to Reject EBK-DA and EBKT-DA Lease
----------------------------------------------------------
Diabetes America, Inc., asks the U.S. Bankruptcy Court for the
Southern District of Texas for authority to reject a non-
residential real property lease with EBK-DA, L.L.C. and EBKT-DA,
L.L.C.

The Lease Agreement originally provided for a $29,575 monthly rent
for the first five years, but was subsequently adjusted by the
Current Landlords prior to the Petition Date to $15,000 for six
months, commencing in September 2010 and ending in February 2011.

The Debtor has used the Premises as its corporate office and to
operate a Diabetes treatment center.  However, because the Premise
is so large, a 40% of the arean has not been used in the Debtor's
business operations.  Even prior to the Petition Date, it became
clear to the Debtor that it could utilize the entire Premises and
could not afford to pay the large rental obligations under the
Lease Agreement.

Accordingly, the Debtor now seeks to reject the Lease Agreement,
effective as of the date it turns over the Premises to the Current
Landlords.  The Debtor currently anticipates that it will be ready
to move its operations at the Premise to its new locations in
April 2011.

                      About Diabetes America

Houston, Texas-based Diabetes America, Inc., fka Diabetes Centers
of America, Inc., operates a network of 17 centrally-managed
medical clinics that provide comprehensive outpatient medical
care, primarily to patients with Type 1, Type 2 and Gestational
Diabetes.  The company's clinics are located in Texas and Houston
and generate 51,000 patient visits per year.

Diabetes America filed for Chapter 11 bankruptcy protection
(Bankr. S.D. Tex. Case No. 10-41521) on Dec. 21, 2010.  The Debtor
estimated its assets and debts at $10 million to $50 million as of
the Petition Date.

Judy A. Robbins, the U.S. Trustee for Region 7, appointed three
members to the Official Committee of Unsecured Creditors in
Diabetes America's Chapter 11 case.  The Committee has tapped
Butler, Snow, O'Mara, Stevens & Cannada, PLLC, as its counsel.


DIABETES AMERICA: Lease Rejection Period Extended to July 19
------------------------------------------------------------
Diabetes America, Inc., sought and obtained an order from the U.S.
Bankruptcy Court for the Southern District of Texas extending
through and including the earlier of July 19, 2011 or the
confirmation of the Debtor's Chapter 11 plan of reorganization to
assume or reject any unexpired non-residential real property
leases in which the Debtor is the lessee.

                      About Diabetes America

Houston, Texas-based Diabetes America, Inc., fka Diabetes Centers
of America, Inc., operates a network of 17 centrally-managed
medical clinics that provide comprehensive outpatient medical
care, primarily to patients with Type 1, Type 2 and Gestational
Diabetes.  The company's clinics are located in Texas and Houston
and generate 51,000 patient visits per year.

Diabetes America filed for Chapter 11 bankruptcy protection
(Bankr. S.D. Tex. Case No. 10-41521) on Dec. 21, 2010.  The Debtor
estimated its assets and debts at $10 million to $50 million as of
the Petition Date.

Judy A. Robbins, the U.S. Trustee for Region 7, appointed three
members to the Official Committee of Unsecured Creditors in
Diabetes America's Chapter 11 case.  The Committee has tapped
Butler, Snow, O'Mara, Stevens & Cannada, PLLC, as its counsel.


EAGLES CREST: Files Amended List of Largest Unsecured Creditors
---------------------------------------------------------------
Eagles Crest Leasing Group I LLC filed an amended list of largest
unsecured creditors:

   Name and Address                                 Claim Amount
   ----------------                                 ------------
   Savage & Browning                                     $18,449
   8676 W. 96th St., Ste 100
   Overland Park, KS 66212

   Midwest Lawns                                           5,212
   3511 West 29th Street
   Davenport, IA 52804

   Schindler Elevator Corporation                          4,494
   3000 Justin Drive, Suite F
   Urbandale, IA 50322

   Actualy Clean                                           4,210
   PO Box 2031
   Davenport, IA 52809-2031

   MidAmerican Energy                                      4,133
   PO Box 8020
   Davenport, IA 52808

   Harris Excavating                                       3,051
   20606 Maysvile Road
   Davenport, IA 52804

   Astra Furniture Rental & Sales                          2,290
   PO Box 3587
   Davenport, IA 52808-3587

   Sherwin-Wiliams                                         2,286
   11 E 50th Street
   Davenport, IA 52809-5995

   Iowa American Water                                     1,907
   PO Box 94551
   Palatine, IL 60094-4551

   Network Communications, Inc.                            1,158
   PO Box 935080
   Atlanta, GA 31193

   Becky Whitlock                                            859
   1701 Eagles Crest Ave, Unit B5
   Davenport, IA 52804

   Ervin's Inc                                               777
   201 Liberty Street
   PO Box 8
   Wilton, IA 52778

   Stanley, Lande & Hunter                                   729
   301 Iowa Avenue, Ste 400
   Muscatine, IA 52761

   Qwest                                                     726
   PO Box 91154
   Seattle, WA 98111-9254

   Tri-State Automatic Sprinkler Corp.                       642
   5570 Carey Avenue
   Davenport, IA 52807

   Yellow Book West                                          560
   PO Box 660052
   Dallas, TX 75266-0052

   City of Davenport                                         435
   226 West Fourth Street
   Davenport, IA 52801

   Anderson Appliance Service                                304
   18 Crestview Drive
   Geneseo, IL 61254

   Lowe's                                                    292
   PO Box 530954
   Atlanta, GA 30353-0954

   HyVee Accounts Receivable                                 231
   5820 Westown Parkway
   West Des Moines, IA 50266

                        About Eagles Crest

Coralville, Iowa-based Eagles Crest Leasing Group 1, LLC, filed
for Chapter 11 bankruptcy protection on December 27, 2010 (Bankr.
S.D. Iowa Case No. 10-06103).  Jeffrey D. Goetz, Esq., at
Bradshaw, Fowler, Proctor & Fairgrave, P.C., serves as the
Debtor's bankruptcy counsel.  The Debtor estimated its assets and
debts at $10 million to $50 million.


EASTMAN KODAK: Inks 2nd Amended Credit Agreement with BoA, et al.
-----------------------------------------------------------------
Eastman Kodak Company and its subsidiary Kodak Canada Inc.,
together with the Company's U.S. subsidiaries as guarantors,
entered into a Second Amended and Restated Credit Agreement, with
the named lenders and Bank of America, N.A. as agent, in order to
amend and extend its amended and restated secured revolving credit
agreement entered into on March 31, 2009, as amended.

The Restated Credit Agreement provides for an asset-based
revolving credit facility of up to $400 million, including up to
$250 million of availability for letters of credit.  The $99
million in letters of credit previously issued under the credit
agreement will continue under the Restated Credit Agreement.
There are no advances outstanding under the facility.  The
revolving credit facility may continue to be used for general
corporate purposes.  The Company may prepay or purchase certain of
its outstanding indebtedness and may borrow under the credit
facility to do so but the Company may only borrow to prepay or
purchase its 7.25% Senior Notes due 2013 if it has excess
availability under the borrowing base of at least 20% of the total
facility.  The revolving credit facility will terminate on the
earliest of: (a) the date which is five years from the effective
date of the credit facility, (b) the date all of the lenders'
commitments are terminated, and (c) the 90th day prior to maturity
of the Senior Notes due 2013 if they have not been redeemed,
defeased or otherwise satisfied by that date.

Advances under the Restated Credit Agreement will be available
based on each Borrowers' respective borrowing base from time to
time.  The borrowing base is calculated based on designated
percentages of eligible accounts receivable and inventory for the
U.S. and Canada and equipment in the U.S., subject to applicable
reserves.  The Company will establish a concentration account with
the Agent for its cash management which will be swept to pay down
amounts owed to the lenders if the Company is in default or its
excess availability under the Restated Credit Agreement falls
below the greater of $50 million and 15% of the aggregate
facility.  The Restated Credit Agreement provides that advances
made from time to time will bear interest at applicable margins
over the Base Rate, as defined, or the Eurodollar Rate.  The
Company pays a quarterly fee to the Lenders based on their unused
commitments, which ranges from 0.375% to 0.50% annually.

The obligations of the Borrowers and Guarantors are secured by
liens on substantially all of their non-real estate assets and by
a pledge of 65% of the stock of certain of the Company's material
non-U.S. subsidiaries, pursuant to certain second amended and
restated U.S. and Canadian security agreements.  The security
agreements also secure designated obligations of the Company and
its subsidiaries to various Lenders under treasury management
services, hedge or other agreements or arrangements.  The security
interests are limited to the extent necessary so that they do not
trigger the cross-collateralization requirements under the
Company's indenture with Bank of New York as trustee, dated as of
Jan. 1, 1988, as amended by various supplemental indentures.

Under the terms of the Restated Credit Agreement, the Company has
agreed to certain affirmative and negative covenants customary in
similar asset-based lending facilities.  In the event the
Company's excess availability under the borrowing base formula
under the Restated Credit Agreement falls below the greater of $40
million and 12.5% of the aggregate credit facility, the Company
must maintain a fixed charge coverage ratio of not less than 1.1
to 1.0 until the excess availability is greater than the Trigger
for 30 consecutive days. Excess availability currently is higher
than $100 million.  Among other things, the negative covenants
limit the Company's ability to incur additional debt or liens,
make certain investments, make shareholder distributions or prepay
debt, except as permitted under the terms of the Restated Credit
Agreement.

The Restated Credit Agreement continues to contain customary
events of default, including without limitation, payment defaults,
breach of representations and warranties, breach of covenants,
bankruptcy events, ERISA and Canadian pension plan events, cross
defaults to certain other indebtedness in excess of $50 million,
certain judgment defaults and change of control.  If an event of
default occurs and is continuing, the Lenders may decline to
provide additional advances, impose a default rate of interest,
declare all amounts outstanding under the Restated Credit
Agreement immediately due and payable, and require cash
collateralization or similar arrangements for outstanding letters
of credit.

A full-text copy of the Second Amended and Restated Credit
Agreement is available for free at http://is.gd/iqUMr6

                        About Eastman Kodak

Headquartered in Rochester, New York, Eastman Kodak Company
(NYSE:EK) -- http://www.kodak.com/-- provides imaging technology
products and services to the photographic and graphic
communications markets.

As of Dec. 31, 2010, the Company's balance sheet showed
$6.84 billion in total assets, $7.34 billion in total liabilities
and a $498 million deficit.

As reported by the Troubled Company Reporter on March 2, 2011,
Standard & Poor's Ratings Services lowered its corporate credit
rating on Eastman Kodak to 'CCC' from 'B-'.  S&P removed the
rating from CreditWatch, where S&P placed it with negative
implications on Jan. 26, 2011.  The rating outlook is negative.
Issue-level ratings on the company's debt were also lowered and
removed from CreditWatch in conjunction with the corporate credit
rating change.

The 'CCC' corporate credit rating reflects S&P's expectation that
Eastman Kodak's pace of cash consumption will remain high over the
near term.  It also reflects S&P's expectation of continued
secular volume decline of the traditional photographic products
and services business, that the company's consumer digital imaging
businesses will not quickly turn convincingly profitable, and that
intellectual property earnings, which constitute a significant
portion of the company's EBITDA, could decline significantly from
2010 levels.  These factors underpin S&P's view of Kodak's
business risk as vulnerable and support S&P's view that revenue
and EBITDA will decline in 2011.  S&P views the company's
financial risk profile as highly leveraged because of the risk
that its earnings and cash flow could become insufficient to
support its debt.

In the March 16, 2011 edition of the TCR, Fitch Ratings has
affirmed its 'CCC' Issuer Default Rating on Kodak.  The ratings
and Negative Outlook reflect Kodak's continued struggles to gain
traction in its digital businesses as secular declines persist and
broaden to entertainment film within the traditional film
business.


EQUIPOWER RESOURCES: S&P Rates $525MM Credit Facilities 'BB-'
-------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB-' rating to
EquiPower Resources Holdings LLC's $425 million senior secured
term loan due 2018 and $100 million senior secured revolver due
2016.

"In addition, we assigned a recovery rating of '1' on both series
of debt, indicating the expectation for a very high (90% to 100%)
recovery if a default occurs. The outlook is stable," S&P noted.

EquiPower was created to invest in a diversified portfolio of
power plants using proven combined-cycle gas turbine (CCGT)
technologies. EquiPower owns four facilities in New England
totaling 1,792 megawatts (MW): Dighton (168 MW), Lake Road (812
MW), MassPower (264 MW), and Milford (548 MW). The project is
owned by EquiPower Resources HoldCo LLC, which is owned by
EquiPower Resources Corp., which is owned by two private equity
funds, Energy Capital Partners II (unrated) and Energy Capital
Partners II LLC (unrated).The secured term loan matures in 2018
and is amortized through a 100% cash sweep supported by merchant
revenues, financial hedges, and NEPOOL capacity payments that are
known until May 31, 2014.

The project used term loan proceeds to fund the purchase price for
the acquisition of Milford Power, a distribution to the sponsor,
capital expenditure reserve account, and transaction costs and
expenses. It will use the revolver for general corporate and
working capital purposes, collateral posting, and to fund a six-
month debt service reserve account. The project will repay debt
with capacity revenue derived from the ISO-NE Forward Capacity
Market and merchant revenue from electricity sales in the day-
ahead and spot market. In addition, the project will earn hedging
revenue from heat rate call options covering 50% of capacity for
the first three years of operation and 28% of capacity in the
fourth year.

"We base the stable outlook on expectations of good operations,
some stability in cash flow through 2014 with hedges and fixed
capacity prices, and liquidity," said Standard & Poor's credit
analyst Andrew Giudici.

A downgrade could occur if spark spreads are lower than
anticipated, the project encounters severe operating issues that
result in higher expenses and lower availabilities, or hedge
imperfections result in higher-than-expected counterparty
payments. "We could raise the rating if the merchant power prices
and capacity market prices are higher than expected, which would
translate into greater term amortization and reduced refinancing
risk. Also, if EquiPower can meet its expected heat rate
improvements, cash flow may also increase enough to mitigate
refinancing risk at a higher rating level," S&P added.


EVERGREEN SOLAR: Warns of Slowing Demand, Liquidity Troubles
------------------------------------------------------------
Dow Jones' DBR Small Cap reports that with uncertainty over
subsidies programs slowing demand for solar panels, Evergreen
Solar Inc. is considering accelerating its hunt for additional
sources of cash -- a search that could potentially prove
difficult.

Marlboro, Massachusetts, December 6, 2010 -- Evergreen Solar, Inc.
(NasdaqGM: ESLR) -- http://www.evergreensolar.com/-- develops,
manufactures and markets String Ribbon(R) solar power products
using its proprietary, low-cost silicon wafer technology.  The
Company's balance sheet at Oct. 2, 2010, showed $835.05 million in
total assets, $486.2 million in liabilities and stockholders'
equity of $348.8 million.


FAIR HAVEN: Case Summary & 14 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Fair Haven Heights Realty, LLC
        439 North River Street
        Guilford, CT 06437

Bankruptcy Case No.: 11-21209

Chapter 11 Petition Date: April 26, 2011

Court: United States Bankruptcy Court
       District of Connecticut (Hartford)

Judge: Albert S. Dabrowski

Debtor's Counsel: James M. Nugent, Esq.
                  HARLOW, ADAMS, AND FRIEDMAN
                  300 Bic Drive
                  Milford, CT 06460
                  Tel: (203) 878-0661
                  E-mail: jmn@quidproquo.com

Scheduled Assets: $1,382,631

Scheduled Debts: $1,629.120

A list of the Company's 14 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ctb11-21209.pdf

The petition was signed by Joel Schiavone, member/manager.


FENTURA FINANCIAL: Reports $310,000 Net Income in 1st Quarter
-------------------------------------------------------------
In a letter sent to shareholders on April 27, 2011, Fentura
Financial, Inc., reported net income of $310,000 on $3.35 million
of total interest income for the three months ended March 31,
2011, compared with a net loss of $483,000 on $3.93 million of
total interest income for the same period during the prior year.

The Company's balance sheet at March 31, 2011, showed
$314.46 million in total assets, $298.26 million in total
liabilities, and $16.20 million in total stockholders' equity.

A full-text copy of the Company's letter to shareholders is
available for free at http://is.gd/4OKRoh

                      About Fentura Financial

Based in Fenton, Michigan, Fentura Financial, Inc., is a
registered bank holding company, owns and controls The State Bank,
Fenton, Michigan, and West Michigan Community Bank, Hudsonville,
Michigan, both state nonmember banks, and two nonbank
subsidiaries.  Fentura Financial shares are traded over the
counter under the FETM trading symbol.

As reported in the Troubled Company Reporter on March 22, 2010,
Crowe Horwath LLP, in Grand Rapids, Mich., expressed substantial
doubt about the Company's ability to continue as a going concern,
following its 2009 results.  The independent auditors noted that
the Company incurred net losses in 2009 and 2008, primarily from
higher provisions for loan losses, and non-compliance with the
higher capital requirements of the Consent Orders.

Fentura Financial, Inc., entered into a Written Agreement with
the Federal Reserve Bank of Chicago on November 4, 2010.  Among
other things, the Written Agreement requires that the Company
obtain the approval of the FRB prior to paying a dividend;
requires that the Company obtain the approval of the FRB prior to
making any distribution of interest, principal, or other sums on
subordinated debentures or trust preferred securities; prohibits
the Company from purchasing or redeeming any shares of its stock
without the prior written approval of the FRB; requires the
submission of a written capital plan by January 3, 2011, and;
requires the Company to submit cash flow projections for the
Company to the FRB on a quarterly basis.

The Company reported a net loss of $5.38 million on $13.87 million
of interest income for the year ended Dec. 31, 2010, compared with
a net loss of $16.98 million on $16.24 million of interest income
during the prior year.


FIRST CHOICE: Closed; Bank of the Ozarks Assumes All Deposits
-------------------------------------------------------------
Bank of the Ozarks of Little Rock, Ark., acquired the banking
operations, including all the deposits, of two Georgia-based
banks.  To protect depositors, the Federal Deposit Insurance
Corporation entered into purchase and assumption agreements with
Bank of the Ozarks.

First Choice Community Bank of Dallas, Ga., and The Park Avenue
Bank of Valdosta, Ga., were closed on Friday, April 29, 2011, by
the Georgia Department of Banking and Finance, which appointed the
FDIC as receiver.

All 19 branches of the two closed banks will reopen during their
normal business hours as branches of Bank of the Ozarks.
Depositors of the two failed banks will automatically become
depositors of Bank of the Ozarks.  Deposits will continue to be
insured by the FDIC, so there is no need for customers to change
their banking relationship in order to retain their deposit
insurance coverage up to applicable limits.  First Choice
Community Bank had seven branches in Georgia; and The Park Avenue
Bank had eleven branches in Georgia and one branch in Florida.

As of December 31, 2010, First Choice Community Bank had total
assets of $308.5 million and total deposits of $310.0 million; and
The Park Avenue Bank had total assets of $953.3 million and total
deposits of $827.7 million.  Besides assuming all the deposits
from the two Georgia banks, Bank of the Ozarks will purchase
essentially all of their assets.

The FDIC and Bank of the Ozarks entered into loss-share
transactions on the failed banks' assets.  The loss-share
transaction for First Choice Community Bank was $260.7 million;
and the loss-share transaction for The Park Avenue Bank was $514.1
million.  Bank of the Ozarks will share in the losses on the asset
pools covered under the loss-share agreements.  The loss-share
transactions are projected to maximize returns on the assets
covered by keeping them in the private sector.  The transactions
also are expected to minimize disruptions for loan customers.  For
more information on loss share, please visit:

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

Customers who have questions about the transactions can call the
FDIC toll free: for First Choice Community Bank customers, 1-800-
894-7035; and for The Park Avenue Bank customers, 1-800-894-5183.
Interested parties also can visit the FDIC's Web sites: for First
Choice Community Bank,

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

and for The Park Avenue Bank,

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

The FDIC estimates that the cost to the Deposit Insurance Fund for
First Choice Community Bank will be $92.4 million; and for The
Park Avenue Bank, $306.1 million.  Bank of the Ozarks' acquisition
of all the deposits of the two institutions was the "least costly"
option for the DIF compared to all alternatives.

The closings are the 37th and 38th FDIC-insured institutions to
fail in the nation so far this year and the ninth and tenth in
Georgia.  Prior to April 29, the last bank closed in the state was
New Horizons Bank, East Ellijay, on April 15, 2011.


FIRST NATIONAL BANK: Closed; Premier Assumes All Deposits
---------------------------------------------------------
Premier American Bank, National Association, of Miami, Fla.,
acquired the banking operations, including all the deposits, of
two Florida-based banks.  To protect depositors, the Federal
Deposit Insurance Corporation entered into purchase and assumption
agreements with Premier American Bank, N.A.

On Friday, April 29, 2011, First National Bank of Central Florida
of Winter Park, Fla., was closed by the Office of the Comptroller
of the Currency, which appointed the FDIC as receiver, and Cortez
Community Bank of Brooksville, Fla., was closed by the Florida
Office of Financial Regulation, which appointed the FDIC as
receiver.

All eight branches of the two closed banks will reopen during
normal business hours as branches of Florida Community Bank, a
division of Premier American Bank, N.A.  Depositors of the two
failed banks will automatically become depositors of Florida
Community Bank.  Deposits will continue to be insured by the FDIC,
so there is no need for customers to change their banking
relationship in order to retain their deposit insurance coverage
up to applicable limits.  First National Bank of Central Florida
had six branches; and Cortez Community Bank had two branches.

As of December 31, 2010, First National Bank of Central Florida
had total assets of $352.0 million and total deposits of $312.1
million; and Cortez Community Bank had total assets of $70.9
million and total deposits of $61.4 million.  Besides assuming all
the deposits from the two Florida banks, Florida Community Bank
will purchase essentially all of their assets.

The FDIC and Premier American Bank, N.A., entered into loss-share
transactions on the failed banks' assets.  The loss-share
transaction for First National Bank of Central Florida was $270.0
million; and the loss-share transaction for Cortez Community Bank
was $51.3 million.  Premier American Bank, N.A., will share in the
losses on the asset pools covered under the loss-share agreements.
The loss-share transactions are projected to maximize returns on
the assets covered by keeping them in the private sector.  The
transactions also are expected to minimize disruptions for loan
customers.  For more information on loss share, please visit:

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

Customers who have questions about the transactions can call the
FDIC toll free: for First National Bank of Central Florida
customers, 1-800-894-3199; and for Cortez Community Bank
customers, 1-800-894-2927.  Interested parties also can visit the
FDIC's Web sites: for First National Bank of Central Florida,

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

and for Cortez Community Bank,

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

The FDIC estimates that the cost to the Deposit Insurance Fund for
First National Bank of Central Florida will be $42.9 million; and
for Cortez Community Bank, $18.6 million.  Premier American Bank,
N.A.'s acquisition of all the deposits of the two institutions was
the "least costly" option for the DIF compared to all
alternatives.

The closings are the 35th and 36th FDIC-insured institutions to
fail in the nation so far this year and the third and fourth in
Florida.  Prior to April 29, the last bank closed in the state was
Sunshine State Community Bank, Port Orange, on February 11, 2011.


FKF 3 LLC: Court Confirms Joint Plan of Liquidation
---------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
confirmed on April 18, 2011, the first amended joint plan of
liquidation proposed by FKF 3, LLC, and the Official Committee of
Unsecured Creditors, dated Jan. 28, 2011.

Under the Plan, Class 3 (General Unsecured Claims) and Class 4
(Interests) are the only impaired classes.  Class 3 accepted the
Plan.  Holders of Claims in Class 4 were deemed to have rejected
the Plan and were not entitled to vote.

As reported in the TCR on April 6, 2011, the primary purpose of
the Plan is to consolidate all the assets and claims of FKF 3 into
a single trust that will be administered by a trustee and governed
by a trust board populated by creditors of FKF 3.

Under the Plan, Allowed Administrative Expense Claims, Priority
Tax Claims and Secured Claims, if any, are unimpaired and will be
satisfied in full.  Holders of Allowed General Unsecured Claims
against the Debtor will receive their Pro Rata Share of FKF Trust
Assets after the payment of Administrative Expense Claims,
Priority Tax Claims, and Secured Claims.  The Plan cancels all
Interests in the Debtor.

The Court approved the Disclosure Statement for the Plan on
Feb. 10, 2011, and the Debtor has actively sought creditors'
votes in favor of the Plan since then.

A copy of the distribution version of the First Amended Plan of
Liquidation and Disclosure Statement, together with accompanying
exhibits, is available at:

      http://bankrupt.com/misc/FKF3_1stAmdPlanNDiscStm.pdf

The Debtor is represented by:

    Jeffrey A. Reich, Esq.
    Lawrence R. Reich, Esq.
    REICH REICH & REICH, P.C.
    235 Main Street
    Suite 450
    White Plains, NY 10601
    Tel: (914) 949-2126
    Fax: (914) 949-1604
    E-mail: reichlaw@aol.com

The Creditors Committee is represented by:

    Fred Stevens, Esq.
    Carrie V. Hardman
    KLESTADT & WINTERS, LLP
    570 Seventh Avenue
    17th Floor
    New York, NY 10018
    Tel: (212) 972-3000
    Fax: (212) 972-2245
    E-mail: fstevens@klestadt.com
            chardman@klestadt.com

                         About FKF 3, LLC

URI Sasson, Kathryn Bareket, and Angela Badami made an involuntary
Chapter 11 bankruptcy protection against FKF 3, LLC, on July 19,
2010 (Bankr. S.D. N.Y. Case No. 10-37170).  Judge Cecelia G.
Morris presides over the case.  Henry N Christensen, Jr., Esq., at
Norton & Christensen, represents the petitioners.

Judge Morris ruled that the Company is eligible to be a Debtor
under Chapter 11 of the Bankruptcy Code.


FLORIDA GAMING: Enters Into $87 Million Senior Secured Term Loan
----------------------------------------------------------------
Florida Gaming Corporation, on April 25, 2011, entered into a
credit agreement at its wholly owned subsidiary, Florida Gaming
Centers, Inc., with a syndicate of unaffiliated third party
lenders and ABC Funding, LLC, as Administrative Agent for the
Lenders.  Innovation Capital, LLC served as exclusive Financial
Advisor to the Company and Placement Agent on the debt financing.

The Credit Agreement provides for an $87,000,000 senior secured
term loan that will mature on April 25, 2016.  The Term Loan was
issued at a price of 98.0% and will generally bear interest at a
rate varying between 15.75% and 16.50%.  The net proceeds of the
Term Loan are $83,520,000, after deducting fees and discounts to
the Lenders related to the transaction.

The Company intends to use the net proceeds from the Term Loan to
fund capital expenditures and for working capital and general
corporate purposes.  The capital expenditures encompass an
expansion project at the Company's Miami Jai-Alai fronton, which
will include the development of a casino floor featuring
approximately 1,000 new slot machines that will complement
existing poker tables; upgraded food, beverage service and
entertainment amenities; a renovated Jai-Alai venue; and
approximately 1,500 surface parking spaces.

In addition to providing funds to develop the Project, including
adequate reserves for interest payments and contingencies during
construction, a portion of the Term Loan proceeds will be used to
repay approximately $8.8 million of existing debt and other
payables, provided certain gaming licenses are obtained before
such repayment.  In connection with the execution of the Credit
Agreement, the Company has also executed a Deed in Lieu of
Foreclosure to be in full satisfaction of previously disclosed
indebtedness of approximately $355,000 owed to H2C, Inc.  The Deed
in Lieu of Foreclosure conveys approximately 18 acres of
unimproved real property in St. Lucie County in the State of
Florida.

At the closing, the Lenders received warrants, with a $0.01
exercise price, currently equal to 35% of the stock in Centers and
such percentage may increase depending on the number of slot
machines that may become operational at a competing facility in
the future.  The Base Percentage will increase by 0.01%, up to a
maximum of 10.0%, for each slot machine made available for gaming
at Hialeah Park Race Track at any time while the Centers Warrants
are outstanding.  Centers may have the ability to reduce the
Hialeah Increase by up to one-half, depending on actual financial
performance in the future exceeding certain thresholds, by paying
the Lenders an aggregate of $500,000 for each percentage point it
wishes to deduct from the Hialeah Increase.  Centers is obligated
to make an offer to repurchase the Centers Warrants upon the
occurrence of any Trigger Event, which is defined to include the
following: (a) the maturity date of the Term Loan; (b) the date
upon which the Term Loan is repaid in full; (c) upon a change of
control in Centers; (d) upon the commencement of bankruptcy
proceedings (or any similar action or insolvency event) by
Centers; and (e) if the maturity date of the Term Loan or the
Repayment Date occurs prior to the fifth anniversary of the
opening date of The Casino at Miami Jai-Alai, then each
anniversary of the Opening Date occurring after the Repayment Date
and on or prior to the fifth anniversary of the Opening Date.

In addition, at the closing, the Lenders received warrants in the
Company currently equal to 30.0% of its fully diluted common
equity ownership.  The Company Warrants have a $25 exercise price;
however, if (i) the Lenders' construction consultant determines
that Centers will need to access any amount of a $3.0 million
completion guarantee, which has been funded by the Term Loan, to
complete the Project on time and on budget and (ii) the Company
and Centers have not raised new equity to replace the $3.0 million
completion guarantee and thereby cancel the Company Warrants at
anytime from the closing until 30 days after the Project is
determined to be Out of Balance, the Company Warrants will become
exercisable at $0.01.  If the Company is successful at raising new
equity to replace the completion guarantee, the $3.0 million will
be used to prepay the Term Loan at par upon receipt of such
proceeds.  Similarly, if the Company is able to complete the
Project on time without going Out of Balance, the completion
guarantee will be canceled upon the Opening Date and the $3.0
million will be used to prepay the Term Loan at par and the
Company Warrants cancelled.

The Term Loan is also subject to other prepayments upon the
occurrence of certain events, including an annual excess cash flow
sweep.  Borrowings under the Term Loan will be secured by a first
priority security interest in all tangible and intangible assets
of Centers and each guarantor under the Term Loan, including the
Company.

The Lenders will have certain registration rights with respect to
the shares of common stock issuable upon exercise of the Company
Warrants.

The Credit Agreement contains customary representations and
warranties, events of default, and affirmative and negative
covenants, including (among others) restrictions on indebtedness,
liens, transactions with affiliates, and acquisitions,
consolidations, mergers and asset sales.  The Credit Agreement
also contains financial covenants including, (i) maximum leverage,
(ii) minimum fixed charge coverage, (iii) maximum capital
expenditures and (iv) minimum EBITDAM.

                      Modification Agreements

In connection with the closing of the Credit Agreement, the
Company entered into the following agreements:

A.  A Modification Agreement with Solomon O. Howell and James W.
Stuckert whereby a Memorandum of Agreement, dated Aug. 14, 2009
for a note in the amount of $1,000,000 was amended to (i) extend
the maturity date to be at least six months after the maturity
date under the Credit Agreement, (ii) at the Company's option
permit interest to be paid-in-kind instead of in cash and (iii)
subordinate the obligations under the Memorandum of Agreement to
those under the Credit Agreement.

B.  A Modification, Assignment and Assumption Agreement with
Freedom Holding, Inc., and Centers whereby Holding agreed to amend
a series of promissory notes of Centers with an original principal
amount of $1,322,573 to Holding to (i) release Centers from the
obligations thereunder and accept the Company as the new borrower
under the promissory notes, (ii) extend the maturity date to be at
least six months after the maturity date under the Credit
Agreement, (iii) convert all interest payments to be paid-in-kind
instead of in cash and (iv) generally subordinate the obligations
under the promissory notes to those under the Credit Agreement.

C.  A Modification, Assignment and Assumption Agreement with
Andrea S. Neiman and Centers whereby Ms. Neiman agreed to modify
an original note in the amount of $125,000 to (i) release Centers
from the obligations thereunder and accept the Company as the new
borrower under the note, (ii) extend the maturity date to be at
least six months after the maturity date under the Credit
Agreement, (iii) at the Company's option permit interest to be
paid-in-kind instead of in cash and (iv) generally subordinate the
obligations under the note to those under the Credit Agreement.

                          Promissory Note

In connection with the closing of the Credit Agreement, the
Company also entered into a Promissory Note with Freedom Financial
Corporation in the amount of $1,905,000 for certain accounts
receivable and unpaid consulting services rendered by Freedom to
the Company.  Under the Promissory Note, (i) the indebtedness is
subordinate to the obligations under the Credit Agreement, (ii)
interest shall be paid-in-kind instead of in cash and (iii) the
outstanding principal will be due and payable in full on the date
that is six months after the maturity date under the Credit
Agreement.

                       About Florida Gaming

Florida Gaming Corporation operates live Jai Alai games at
frontons in Ft. Pierce, and Miami, Florida through its Florida
Gaming Centers, Inc. subsidiary.  The Company also conducts
intertrack wagering (ITW) on jai alai, horse racing and dog racing
from its facilities.  Poker is played at the Miami and Ft. Pierce
Jai-Alai, and dominoes are played at the Miami Jai-Alai.  In
addition, the Company operates Tara Club Estates, Inc., a
residential real estate development located near Atlanta in Walton
County, Georgia.  Approximately 46.2% of the Company's common
stock is controlled by the Company's Chairman and CEO either
directly or beneficially through his ownership of Freedom Holding,
Inc.  The Company is based in Miami, Florida.

The Company reported a net loss of $4.84 million on $4.11 million
of Jai-Alai Mutuel revenue for the year ended Dec. 31, 2010,
compared with a net loss of $4.87 million on $6.85 million of Jai-
Alai Mutuel revenue during the prior year.

The Company's balance sheet at $16.65 million in total assets,
$21.81 million in total liabilities and $5.16 million in total
stockholders' deficit.

As reported by the TCR on April 7, 2011, King + Company, PSC, in
Louisville, Kentucky, noted that the Company has suffered
recurring losses from operations and cash flow deficiencies which
raise substantial doubt about its ability to continue as a going
concern.


FREMONT GENERAL: May 27 Hearing Set on WF Motion to Compel
----------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
will hold a hearing on May 27, 2011, at 10:00 a.m., on the
expedited motion of Wells Fargo to compel compliance with and
enforce the terms of the Court's order granting Wells Fargo's
motion to implement and enforce the terms of the confirmed plan
and confirmation order.

On April 14, 2011, Wells Fargo Bank, N.A,. and Wells Fargo
Delaware Trust Company, solely in their respective capacities as:
(a) Indenture Trustee; (b) Institutional Trustee; (c) Guaranty
Trustee; and (d) Delaware Trustee, filed an expedited motion with
the U.S. Bankruptcy Court for the Central District of California,
pursuant to Section 105(a) of the Bankruptcy Code, to compel
compliance with the terms of the Court's Dec. 29, 2010 order
granting Wells Fargo's motion to enforce the terms of the
confirmed plan and confirmation order, and to hold the Signature
parties in civil contempt for their violations of the Compliance
Order.

In the motion to compel compliance, Wells Fargo says Signature
Group Holdings, Inc., and Signature Group Holdings, LLC, have
delayed distributions to creditors and avoided their obligations
by re-setting a hearing on the Reconsideration Motion for Nov. 10,
2011.  "The new hearing is more than a year and a half from the
confirmation of the Confirmed Plan and a year after the Court made
its ruling on the Compliance Motion," Wells Fargo said in the
motion to compel.

On Dec. 29, 2010, the Court entered the Compliance Order.  The
Reorganized Debtor has yet to pay the outstanding Indenture
Trustgee Fees and other amounts owed under the Confirmed Plan and
Confirmation Order of Wells Fargo and Arent Fox under the Initial
Invoices, and 90% of the outstanding fees under the invoices for
May 2010.  The obligations of the Reorganized Debtor to make these
payments are not stayed by the filing of the Reconsideration
Motion, according to Wells Fargo.

As reported in the TCR on June 7, 2010, Signature Group Holdings,
LLC, and James McIntyre as co-plan proponent, won confirmation of
their Chapter 11 Fourth Amended Plan of Reorganization for Fremont
General Corporation, dated May 11, 2010.

Under the plan, secured claims and general unsecured creditors
will receive payment in full.

Holders of existing equity interests will retain their equity
interests in the Reorganized Debtors, subject to dilution for the
issuance of securities to the TOPrS Group and Signature Investors,
and the common stock which may be issued to the holders of Allowed
Section 510(b) Claims under Class 5.

A full-text copy of the Fourth Amended Chapter 11 Plan of
Reorganization, as confirmed, is available at no charge at:

               http://researcharchives.com/t/s?6407

As reported in the TCR on June 15, 2010, Signature's plan of
reorganization became effective on June 11, 2010.  As of that date
Fremont General changed its name to Signature Group Holdings, Inc.

Counsel for Wells Fargo can be reached at:

     Aram Ordubegian, Esq.
     ARENT FOX LLP
     555 West Fifth Street, 48th Floor
     Los Angeles, CA 90013-1065
     Telephone: (213) 629-7400
     Facsimile: (213) 629-7401

          - and -

     Andrew I. Silfen, Esq.
     ARENT FOX LLP
     1675 Broadway
     New York, NY 10019
     Telephone: (212) 484-3900
     Facsimile: (212) 484-3990

          - and -

     Jeffrey N. Rothleder, Esq.
     Jackson D. Toof, Esq.
     ARENT FOX LLP
     1050 Connecticut Ave., N.W.
     Washington, DC 20036
     Telephone: (202) 857-6000
     Facsimile: (202) 857-6395

                        About Fremont General

Based in Santa Monica, California, Fremont General Corp. (OTC:
FMNTQ) -- http://www.fremontgeneral.com/-- was a financial
services holding company with $8.8 billion in total assets at
Sept. 30, 2007.  Fremont General ceased being a financial services
holding company on July 25, 2008, when its wholly owned bank
subsidiary, Fremont Reorganizing Corporation (f/k/a Fremont
Investment & Loan) completed the sale of its assets, including all
of its 22 branches, and 100% of its $5.2 billion of deposits to
CapitalSource Bank.

Fremont General filed for Chapter 11 protection on June 18, 2008,
(Bankr. C.D. Calif. Case No. 08-13421).  Robert W. Jones, Esq.,
and J. Maxwell Tucker, Esq., at Patton Boggs LLP, Theodore
Stolman, Esq., Scott H. Yun, Esq., and Whitman L. Holt, Esq., at
Stutman Treister & Glatt, represent the Debtor as counsel.
Kurtzman Carson Consultants LLC is the Debtor's noticing agent and
claims processor.  Lee R. Bogdanoff, Esq., Jonathan S. Shenson,
Esq., and Brian M. Metcalf, at Klee, Tuchin, Bogdanoff & Stern
LLP, represent the Official Committee of Unsecured Creditors as
counsel.  Fremont's formal schedules showed $330,036,435 in total
assets and $326,560,878 in total debts.

Fremont General Corporation emerged from bankruptcy and filed
Amended and Restated Articles of Incorporation with the Secretary
of State of Nevada on June 11, 2010, which, among other things,
changed the Debtor's name to Signature Group Holdings, Inc.

Signature's plan of reorganization became effective on June 11,
2010.  As of that date Fremont General changed its name to
Signature Group Holdings, Inc.


FUEL WORX: Disclosure Objection Deadline Extended to May 6
----------------------------------------------------------
Bankruptcy Judge Thomas J. Catliota signed off on a stipulation
and consent order extending until May 6, 2011, the deadline for
all creditors and other parties-in-interest to file and serve
written objections to the disclosure statement explaining Fuel
Worx, Incorporated's plan.  The stipulation was entered into by:

     -- Fuel Worx, represented by:

          Geri Lyons Chase, Esq.
          LAW OFFICES OF GERI LYONS CHASE
          2007 Tidewater Colony Way, Suite 2A
          Annapolis, MD 21401
          Tel: 410-849-0095
          Fax: 410-266-8269

     -- W. Clarkson McDow, Jr., the United States Trustee for
        Region 4;

     -- Business Loan Center, Inc., represented by:

          Joshua D. Bradley,
          ROSENBERG MARTIN GREENBERG, LLP
          25 South Charles Street, Suite 2115
          Baltimore, MD 21201
          Tel: 410-727-6600
          E-mail: jbradley@rosenbergmartin.com

     -- D&D Retail, Inc., represented by:

          Joel L. Perrell, Jr.
          MILES & STOCKBRIDGE P.C.
          10 Light Street
          Baltimore, MD 21202-1487
          Tel: 410-385-3762

A copy of the April 28, 2011 Stipulation is available at
http://is.gd/jNowgHfrom Leagle.com.

Fuel Worx, Incorporated, filed for Chapter 11 bankruptcy (Bankr.
D. Md. Case No. 10-27702) on Aug. 4, 2010.  Geri Lyons Chase,
Esq., at Law Office of Geri Lyons Chase, Annapolis, Maryland,
serves as counsel for the Debtor.  The Debtor scheduled $2,106,000
in assets and $1,734,000 in debts.


GATEHOUSE MEDIA: Bank Debt Trades at 56% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which Gatehouse Media,
Inc., is a borrower traded in the secondary market at 43.90 cents-
on-the-dollar during the week ended Friday, April 29, 2011, a drop
of 0.50 percentage points from the previous week according to data
compiled by Loan Pricing Corp. and reported in The Wall Street
Journal.  The Company pays 200 basis points above LIBOR to borrow
under the facility.  The bank loan matures on February 27, 2014,
and carries Moody's Ca rating and Standard & Poor's CCC- rating.
The loan is one of the biggest gainers and losers among 193 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

Gatehouse Media, Inc., filed with the U.S. Securities and Exchange
Commission its annual report on Form 10-K reporting a net loss of
$26.64 million on $558.58 million of total revenue for the year
ended Dec. 31, 2010, compared with a net loss of $530.61 million
on $584.79 million of total revenue for the year ended December
31, 2009.

The Company reported net income of $1.10 million on $143.36
million of revenue for the three months ended December 31, 2010,
compared with a net loss of $4.27 million on $150.16 million of
total revenue for the same period during the prior year.

The Company's balance sheet at Dec. 31, 2010 showed $546.32
million in total assets, $1.33 billion in total liabilities and a
$792.12 million stockholders' deficit.

GateHouse Media, Inc. -- http://www.gatehousemedia.com/--
headquartered in Fairport, New York, is one of the largest
publishers of locally based print and online media in the United
States as measured by its 97 daily publications.  GateHouse Media
currently serves local audiences of more than 10 million per week
across 21 states through hundreds of community publications and
local Web sites.


HEATHROW LAND: Case Summary & 13 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Heathrow Land Company Limited Partnership
        1275 Lake Heathrow Lane
        Lake Mary, FL 32746

Bankruptcy Case No.: 11-06102

Chapter 11 Petition Date: April 26, 2011

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

Debtor's Counsel: Eric S. Golden, Esq.
                  BURR & FORMAN LLP
                  450 South Orange Avenue, Suite 200
                  Orlando, FL 32801
                  Tel: (407) 244-0888
                  Fax: (407) 244-0889
                  E-mail: egolden@burr.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 13 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/flmb11-06102.pdf

The petition was signed by George P. Apostolicas, as president of
4/46A Corp., Debtor's general partner.

Affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Heathrow Villages Development
Company, LLC                          11-06100   04/26/11


HEATHROW VILLAGES: Case Summary & 6 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Heathrow Villages Development Company, LLC
        1275 Lake Heathrow Lane
        Lake Mary, FL 32746

Bankruptcy Case No.: 11-06100

Chapter 11 Petition Date: April 26, 2011

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

Debtor's Counsel: Eric S. Golden, Esq.
                  BURR & FORMAN LLP
                  450 South Orange Avenue, Suite 200
                  Orlando, FL 32801
                  Tel: (407) 244-0888
                  Fax: (407) 244-0889
                  E-mail: egolden@burr.com

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

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

A list of the Company's six largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/flmb11-06100.pdf

The petition was signed by George P. Apostolicas, as manager of
Heathrow Holdings, LLC, Debtor's managing member.

Affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Heathrow Land Company Limited          11-06102   04/26/11
Partnership


HERCULES OFFSHORE: Completes Purchase of Seahawk Jackup Rigs
------------------------------------------------------------
Hercules Offshore, Inc., and Seahawk Drilling, Inc., announced the
completion of the asset purchase and sale previously disclosed on
Feb. 11, 2011.  In accordance with the terms of the Asset Purchase
Agreement, Hercules Offshore will acquire 20 jackup rigs located
in the U.S. Gulf of Mexico and related assets, accounts
receivable, cash, accounts payables, and certain contractual
rights from Seahawk Drilling.  The total consideration paid to
Seahawk Drilling consists of approximately 22.3 million shares of
Hercules Offshore common stock and $25.0 million in cash.
Following this transaction, there will be a total of 137.2 million
outstanding shares of Hercules Offshore, Inc.

                      About Hercules Offshore

Hercules Offshore Inc. (NASDAQ: HERO) --
http://www.herculesoffshore.com/-- provides shallow-water
drilling and marine services to the oil and natural gas
exploration and production industry in the United States, Gulf of
Mexico and internationally.  The Company provides these services
to integrated energy companies, independent oil and natural gas
operators and national oil companies.  The Company operates in six
business segments: Domestic Offshore, International Offshore,
Inland, Domestic Liftboats, International Liftboats and Delta
Towing.

The Company reported a net loss of $134.59 million on
$657.48 million of revenue for the year ended Dec. 31, 2010,
compared with a net loss of $91.73 million on $742.85 million of
revenue during the prior year.

The Company's balance sheet at Dec. 31, 2010, showed $1.99 billion
in total assets, $1.14 billion in total liabilities, and
$853.13 million in stockholders' equity.

The Troubled Company Reporter said on November 17, 2010, Moody's
Investors Service downgraded the Corporate Family Rating of
Hercules Offshore Inc. and the Probability of Default Rating to
Caa1 from B2.  Moody's also downgraded Hercules' 10.5% senior
secured notes due 2017, its senior secured revolving credit
facility due 2012, and its senior secured term loan B due 2013,
all to Caa1 with LGD3, 45%.  The outlook remains negative.

"The inability of Hercules to generate meaningful free cash flow
despite limited reinvestment in its aging fleet of rigs is cause
for concern," commented Stuart Miller, Moody's Senior Analyst.
"Without a significant de-leveraging of its balance sheet,
Hercules is following a path that could lead to financial hardship
at the first sign of a market softening."  Hercules' Caa1 CFR
rating reflects its highly leveraged balance sheet and limited
ability to generate free cash flow.  The Caa1 rating on the senior
secured notes reflects their pari passu secured position in
Hercules' capital structure relative to the senior secured credit
facilities.


HERCULES OFFSHORE: Reports on Fleet Status as of April 27
---------------------------------------------------------
Hercules Offshore, Inc., on April 27, 2011, posted on its Web site
at www.herculesoffshore.com a report entitled "Hercules Offshore
Fleet Status Report."  The Fleet Status Report includes the
Hercules Offshore Rig Fleet Status (as of April 27, 2011), which
contains information for each of the Company's drilling rigs,
including contract dayrate and duration.  The Fleet Status Report
also includes the Hercules Offshore Liftboat Fleet Status Report,
which contains information by liftboat class for March 2011,
including revenue per day and operating days.  The Fleet Status
Report is available for free at http://is.gd/5A4V5X

                     About Hercules Offshore

Hercules Offshore Inc. (NASDAQ: HERO) --
http://www.herculesoffshore.com/-- provides shallow-water
drilling and marine services to the oil and natural gas
exploration and production industry in the United States, Gulf of
Mexico and internationally.  The Company provides these services
to integrated energy companies, independent oil and natural gas
operators and national oil companies.  The Company operates in six
business segments: Domestic Offshore, International Offshore,
Inland, Domestic Liftboats, International Liftboats and Delta
Towing.

The Company reported a net loss of $134.59 million on
$657.48 million of revenue for the year ended Dec. 31, 2010,
compared with a net loss of $91.73 million on $742.85 million of
revenue during the prior year.

The Company's balance sheet at Dec. 31, 2010 showed $1.99 billion
in total assets, $1.14 billion in total liabilities and
$853.13 million in stockholders' equity.

The Troubled Company Reporter said on November 17, 2010, Moody's
Investors Service downgraded the Corporate Family Rating of
Hercules Offshore Inc. and the Probability of Default Rating to
Caa1 from B2.  Moody's also downgraded Hercules' 10.5% senior
secured notes due 2017, its senior secured revolving credit
facility due 2012, and its senior secured term loan B due 2013,
all to Caa1 with LGD3, 45%.  The outlook remains negative.

"The inability of Hercules to generate meaningful free cash flow
despite limited reinvestment in its aging fleet of rigs is cause
for concern," commented Stuart Miller, Moody's Senior Analyst.
"Without a significant de-leveraging of its balance sheet,
Hercules is following a path that could lead to financial hardship
at the first sign of a market softening."  Hercules' Caa1 CFR
rating reflects its highly leveraged balance sheet and limited
ability to generate free cash flow.  The Caa1 rating on the senior
secured notes reflects their pari passu secured position in
Hercules' capital structure relative to the senior secured credit
facilities.


HERCULES OFFSHORE: Bank Debt Trades at 1% Off in Secondary Market
-----------------------------------------------------------------
Participations in a syndicated loan under which Hercules Offshore
Inc. is a borrower traded in the secondary market at 98.50 cents-
on-the-dollar during the week ended Friday, April 29, 2011, an
increase of 0.21 percentage points from the previous week
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  The Company pays 650 basis points above
LIBOR to borrow under the facility.  The bank loan matures on July
11, 2013, and carries Moody's Caa1 rating and Standard & Poor's B-
rating.  The loan is one of the biggest gainers and losers among
193 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.

                     About Hercules Offshore

Hercules Offshore Inc. (NASDAQ: HERO) --
http://www.herculesoffshore.com/-- provides shallow-water
drilling and marine services to the oil and natural gas
exploration and production industry in the United States, Gulf of
Mexico and internationally.  The Company provides these services
to integrated energy companies, independent oil and natural gas
operators and national oil companies.  The Company operates in six
business segments: Domestic Offshore, International Offshore,
Inland, Domestic Liftboats, International Liftboats and Delta
Towing.

The Company reported a net loss of $134.59 million on
$657.48 million of revenue for the year ended Dec. 31, 2010,
compared with a net loss of $91.73 million on $742.85 million of
revenue during the prior year.

The Company's balance sheet at Dec. 31, 2010 showed $1.99 billion
in total assets, $1.14 billion in total liabilities and
$853.13 million in stockholders' equity.

The Troubled Company Reporter said on November 17, 2010, Moody's
Investors Service downgraded the Corporate Family Rating of
Hercules Offshore Inc. and the Probability of Default Rating to
Caa1 from B2.  Moody's also downgraded Hercules' 10.5% senior
secured notes due 2017, its senior secured revolving credit
facility due 2012, and its senior secured term loan B due 2013,
all to Caa1 with LGD3, 45%.  The outlook remains negative.

"The inability of Hercules to generate meaningful free cash flow
despite limited reinvestment in its aging fleet of rigs is cause
for concern," commented Stuart Miller, Moody's Senior Analyst.
"Without a significant de-leveraging of its balance sheet,
Hercules is following a path that could lead to financial hardship
at the first sign of a market softening."  Hercules' Caa1 CFR
rating reflects its highly leveraged balance sheet and limited
ability to generate free cash flow.  The Caa1 rating on the senior
secured notes reflects their pari passu secured position in
Hercules' capital structure relative to the senior secured credit
facilities.


INTEGRATED FREIGHT: Tangiers Investors Holds 15.77% Equity Stake
----------------------------------------------------------------
In a Schedule 13G filing with the U.S. Securities and Exchange
Commission, Tangiers Investors, LP, and its affiliates disclosed
that they beneficially own 7,763,141 shares of common stock of
Integrated Freight Corporation representing 15.77% of the shares
outstanding.  The calculation of percentage of beneficial
ownership is based on the number of shares of common stock
outstanding of Integrated Freight Corporation as of April 18,
2011, which was 36,687,195 shares.  A full-text copy of the filing
is available for free at http://is.gd/6ojEI2

                      About Integrated Freight

Integrated Freight Corporation, formerly PlanGraphics, Inc., (OTC
BB: IFCR) -- http://www.integrated-freight.com/-- is a Sarasota,
Florida headquartered motor freight company providing long-haul,
regional and local service to its customers.  The Company
specializes in dry freight, refrigerated freight and haz-waste
truckload services, operating primarily in well-established
traffic lanes in the upper mid-West, Texas, California and the
Atlantic seaboard.  IFCR was formed for the purpose of acquiring
and consolidating operating motor freight companies.

On Aug. 19, 2010, at a special stockholders' meeting the Company
approved a reverse stock split, a relocation of its State of
Incorporation to Florida and a change of its name to Integrated
Freight Corporation.  The Company's name change and State of
Incorporation have been approved and are effective as of
Aug. 18, 2010.  The reverse stock split has been approved but is
not effective as of the date of this filing.

                          *     *     *

Sherb & Co., LLP, in Boca Raton, Fla., expressed substantial doubt
about the Company's ability to continue as a going concern,
following its results for the fiscal year ended March 31, 2010.
The independent auditors noted that the Company has suffered
recurring losses and has a negative working capital position and a
stockholders' deficit.

The Company's balance sheet at Sept. 30, 2010, showed
$8.96 million in total assets, $11.91 million in total
liabilities, and a stockholders' deficit of $2.95 million.


INTERNATIONAL COAL: Reports $21.98-Mil. Net Income in 1st Quarter
-----------------------------------------------------------------
International Coal Group, Inc., reported net income of
$21.98 million on $301.99 million of total revenues for the three
months ended March 31, 2011, compared with a net loss of $8.85
million on $288.59 million of total revenues for the same period
during the prior year.

The Company's balance sheet at March 31, 2011 showed $1.49 billion
in total assets, $718.51 million in total liabilities and
$777.62 million in total stockholders' equity.

"International Coal Group delivered another strong quarter as our
commitment to increasing metallurgical coal production continues
to pay dividends," said Ben Hatfield, President and CEO of ICG.
"However, the quarter was not without its challenges, as extreme
winter weather reduced production at our Vindex mine complex and
continued rail congestion lowered shipments at several other
operations."

A full-text copy of the press release announcing the financial
results is available for free at http://is.gd/4GMA98

                   About International Coal Group

Scott Depot, West Virginia-based International Coal Group, Inc.
(NYSE: ICO) produces coal in Northern and Central Appalachia and
the Illinois Basin.  The Company has 13 active mining complexes,
of which 12 are located in Northern and Central Appalachia, and
one in Central Illinois.  ICG's mining operations and reserves are
strategically located to serve utility, metallurgical and
industrial customers throughout the eastern United States.

The Company reported net income of $30.11 million on $1.17 billion
of total revenue for the year ended Dec. 31, 2010, compared with
net income of $21.52 million on $1.12 billion of total revenue
during the prior year.

                           *     *     *

International Coal Group carries 'B+' corporate credit rating from
Standard & Poor's Ratings Services.

As reported by the TCR on Feb. 22, 2011, Moody's Investors Service
upgraded International Coal Group, Inc.'s Corporate Family Rating
and Probability of Default Rating to B2 from Caa1, respectively.
The upgrades and B2 CFR favorably reflect prospects for strong
cash flow from operations (before capital spending) over the
intermediate-term, a substantial reserve position, and an ongoing
shift towards the production of higher margin metallurgical coal
used by the steel industry.  A low level of legacy liabilities,
material increase in met coal production, and the shift towards
underground mining that somewhat mitigates uncertainties
surrounding surface mining permits provide additional support to
the ratings.  However, the B2 CFR is constrained by relatively low
production levels, significant reliance on Central Appalachian
mines, and reliance on certain key mines.  The ratings also
consider inherent operating and geologic risk associated with coal
mining, increased regulatory pressure, and the likelihood that
cash costs will continue to rise moderately over the intermediate
term.


INTERNATIONAL GARDEN: Seeks to Employ Moss Adams as Accountant
--------------------------------------------------------------
International Garden Products, Inc., and its debtor-affiliates ask
the U.S. Bankruptcy Court for the District of Delaware to employ
Moss Adams LLP as accountants nunc pro tunc to the Petition Date.

Moss Adams was previously employed by the Debtors as an ordinary
course professional.

The Debtors need Moss Adams to perform these services:

   -- advising and assisting the Debtors with respect to
      preparation of the Debtor's annual audited financial
      statements;

   -- auditing the International Garden Products, Inc. 401(k)
      Savings Plan;

   -- preparing the Debtors' federal and state tax returns,
      including quarterly estimates and extension calculations;
      and

   -- providing general tax consulting services.

The Debtors will hire Moss Adams based on its hourly rates and
reimburse its necessary out-of-pocket expenses.  Moss Adams
received a $136,558 payment from the Debtors for professional
services, including issues related to the Debtors' tax and
accounting compliance needs, compliance audits for the Debtors'
401(k) Savings Plan, and other general tax consulting services.
The Debtors have also paid Moss Adams approximately $119 for
expenses incurred in the past year.

As of the Petition Date, Moss Adams held an advance payment
retainer amounting $48,965.  The Advance Payment Retainer
initially was funded with $5,000 on June 1, 2010, and was
subsequently increased to $70,000 on June 28, 2010.

The hourly rates of Moss Adams' accounting professionals expected
to render services on these matters range from $135 to $460 per
hour.

Steven J. Fein, a member of Moss Adams, assures the Court that his
firm is a "disinterested person" as the term is defined in Section
101(14) of the Bankruptcy Code.

               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 (Bankr. Lead Case No. 10-13207) on Oct.
4, 2010.  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).


INTERNATIONAL GARDEN: Seeks Aug. 1 Plan Exclusivity Extension
-------------------------------------------------------------
International Garden Products, Inc. and its debtor affiliates ask
the U.S. Bankruptcy Court for the District of Delaware for an
order (i) extending the period during which Debtors have the
exclusive right to file a Chapter 11 plan or plans for 90 days,
through and including Aug. 1, 2011, and (ii) extending the period
during which the Debtors have the exclusive right to solicit
acceptances of the plan or plans for 90 days, through and
including Sept. 29, 2011, without prejudice to Debtors' right to
seek further extensions of the Exclusive Periods.

The Court previously entered an order (a) extending the Exclusive
Filing Period to May 2, 2011, and (b) extending the Exclusive
Solicitation Period to July 1, 2011.

               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 (Bankr. Lead Case No. 10-13207) on
Oct. 4, 2010.  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).


INTERNATIONAL GARDEN: Given Authority to Implement Incentive Plan
-----------------------------------------------------------------
International Garden Products, Inc. and its debtor affiliates
sought and obtained an order from the U.S. Bankruptcy Court for
the District of Delaware authorizing them to implement a Key
Employee Incentive Plan.

A copy of the KEIP is available for free at:

             http://bankrupt.com/misc/IntlGrdnKEIP.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).


INTERNATIONAL GARDEN: Lease Decision Period Extended to June 30
---------------------------------------------------------------
International Garden Products, Inc. and its debtor affiliates
sought and obtained an order from the U.S. Bankruptcy Court for
the District of Delaware an order granting extension of the
deadline by which the Debtors must assume or reject unexpired
leases of nonresidential real property upon receipt of written
consent from lessors.

The extension of time for the Debtors to assume or reject a
particular Lease will be through June 30, 2011, or other time
period through which the applicable landlord agrees to an
extension, in a extension consent letter or otherwise.

               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 (Bankr. Lead Case No. 10-13207) on
Oct. 4, 2010.  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).


INTERNATIONAL GARDEN: Weeks Wholesale's Files Schedules of Assets
-----------------------------------------------------------------
Weeks Wholesale Rose Grower, a debtor affiliate of International
Garden Products, Inc., filed with the U.S. Bankruptcy Court for
the District of Delaware, its schedules of assets and liabilities,
disclosing:

  Name of Schedule                        Assets      Liabilities
  ----------------                        ------      -----------
A. Real Property                      $7,462,077
B. Personal Property                 $11,560,210
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                     $43,963,658
E. Creditors Holding
   Unsecured Priority
   Claims                                                 $24,097
F. Creditors Holding
   Unsecured Non-priority
   Claims                                              $2,656,174
                                     -----------      -----------
      TOTAL                          $19,022,288      $46,643,931

               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).


INTERNATIONAL GARDEN: IGP's Schedules of Assets and Liabilities
---------------------------------------------------------------
International Garden Products, Inc. and its Debtor affiliates
filed with the U.S. Bankruptcy Court for the District of Delaware,
its schedules of assets and liabilities, disclosing:

  Name of Schedule                        Assets      Liabilities
  ----------------                        ------      -----------
A. Real Property                              $0
B. Personal Property                    $588,548
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                     $43,963,658
E. Creditors Holding
   Unsecured Priority
   Claims                                                 $28,863
F. Creditors Holding
   Unsecured Non-priority
   Claims                                             $20,599,859
                                     -----------      -----------
      TOTAL                             $588,981      $64,592,381

               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).


JAVO BEVERAGE: Wins Confirmation of Bankruptcy-Exit Plan
--------------------------------------------------------
Rachel Feintzeig, writing for Dow Jones' Daily Bankruptcy Review,
reports that Judge Brendan L. Shannon on Thursday confirmed the
reorganization plan that Javo Beverage Co. engineered with its
largest investor, a subsidiary of Falconhead Capital LLC.

As reported by the Troubled Company Reporter on March 22, the
Bankruptcy on March 17 approved Javo Beverage's First Amended
Disclosure Statement in support of its First Amended Plan of
Reorganization.

Javo Beverage filed a plan together with its bankruptcy petition.
The Plan would hand the majority of the equity in the reorganized
company to Coffee Holdings LLC, the company's largest single
shareholder, largest single unsecured creditor and bankruptcy
lender.

The Debtor filed a draft copy of the First Amended Disclosure
Statement on March 15.  After extensive negotiations between
counsel to the Creditors' Committee and counsel to Coffee Holdings
LLC, the parties reached a comprehensive settlement that
materially enhances the recovery to the unsecured creditors of
Javo Beverage, other than Holdings and its affiliates, proposed in
the Debtor's Plan filed with the Bankruptcy Court on Feb. 9, 2011.

This enhanced recovery improves treatment of holders of Allowed
General Unsecured Claims in Class 6 because such holders will
receive quarterly payments of principal and interest on the one
year GUC Promissory Notes, as opposed to the two semi-annual
payments proposed in the Initial Plan.

The Plan also greatly enhances recoveries to the Investors (other
than Holdings) holding Subordinated Unsecured Notes Claims
because, instead of receiving an uncertain percentage of the New
Common Stock, Investors will receive their pro rata share of (a)
10% of the New Common Stock with certain minority protections, and
(b) an $800,000 three-year note, bearing 5% interest with
quarterly interest payments.  Given the terms of the negotiated
settlement, it is the opinion of the Creditors' Committee that
confirmation and implementation of the Plan is in the best
interests of the Debtor's Estate and creditors.

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

The Plan provides for (i) the emergence of the Debtor from
Chapter 11 bankruptcy as a Reorganized Debtor and the re-vesting
of the Debtor's assets in the Reorganized Debtor free and
clear of any liens, encumbrances or other interests (except as
otherwise provided in this Plan), (ii) the resolution of all
outstanding Claims against and Interests in the Debtor, and (iii)
the recapitalization of the Debtor's capital structure which will
provide the working capital the Debtor needs to continue to
operate and serve its customers.

Under the Plan, Classes 2, 3, 6, 7, 8, and 9 are deemed impaired,
and the votes from holders of Claims in those Classes will be
solicited with respect to the Plan.  With respect to the
Prepetition Factor Secured Claims under Class 2, the amount owed
as of the Petition Date of $1,459,816 will have been paid during
the Reorganization Case.  However, the Reorganized Debtor will
have to provide for the treatment of the Prepetition Factor Term
Loan in the estimated amount of $315,811, to be agreed upon by the
Prepetition Factor, the Debtor, and Holdings or other treatment
under the Bankruptcy Code.

The Bunn-O-Matic Secured Claims under Class 3, owed $1,193,440,
will be paid $379,140 on the Effective Date.  The remaining amount
of $814,300 will be paid in 3 equal installments, with interest at
8% p.a., commencing on the second month following the Plan
Effective Date.

General Unsecured Claims under Class 6, owed approximately
$2,500,000, will receive quarterly payments of principal and
interest on the one year GUC Promissory Notes, as opposed to the
two semi-annual payments proposed in the Initial Plan.

Senior Note Claims under Class 7, owed $6,026,523, will receive
46.8% of the New Common Stock of the Reorganized Debtor.

Holdings' Subordinated Note Claims under Class 8, owed
$12,075,616, will receive 18.7% of the New Common Stock of the
Reorganized Debtor.  Holdings is estimated to recover 19.9% of its
Class 8 claims.

Investors' Subordinated Note Claims under Class 9, owed
$11,095,470, will receive 10% of the New Common Stock of the
Reorganized Debtor and up to an $800,000 promissory note due in 3
years bearing interest at 5% with quarterly interest payments.
Holders of subordinated note claims under Class 9 are estimated to
recover 19.9% of their claims.  In lieu of receipt of new common
stock, investors in Class 9 are entitled to elect to receive a
cash payment from Holdings at a substantial discount as described
in Section VI.C6 on pages 29-30 of the disclosure statement.

Subordinated Notes and Section 510(b) Claims under Class 10, Old
Preferred Stock under Class 11, and Old Common Stock under Class
12, will be canceled, extinguished and discharged under the Plan.
Holders of Claims in these Classes are deemed to have rejected the
Plan and are not entitled to vote.

                       About Javo Beverage

Vista, California-based Javo Beverage Company, Inc., aka La Jolla
Fresh Squeezed Coffee Co., Inc., manufactures coffee and tea-based
dispensed beverages, drink mixes and flavor systems.  It filed for
Chapter 11 bankruptcy protection on Jan. 24, 2011 (Bankr. D. Del.
Case No. 11-10212).  Debra A. Riley, Esq., at Allen Matkins Leck
Gamble Mallory & Natsis LLP, serves as the Debtor's bankruptcy
counsel.  Robert J. Dehney, Esq., and Matthew B. Harvey, Esq., at
Morris, Nichols, Arsht & Tunnell LLP, is the Debtor's co-counsel.
Valcor Consulting LLC is the Debtor's financial advisor.  Kurtzman
Carson Consultants LLC is the Debtor's claims agent.  The Debtor
disclosed $14,659,681 in total assets and $26,705,755 in total
debts as of the Petition Date.

The Official Committee of Unsecured Creditors of Javo Beverage
Company Inc. has retained Richards, Layton & Finger P.A. as its
counsel and J.H. Cohn LLP as its financial advisor.


KID CHILLEEN: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Kid Chilleen Promotions, Inc.
        aka Kid Chilleen's Steakhouse
        33125 South Coldwater Road
        P.O. Box 1938
        Black Canyon City, AZ 85324

Bankruptcy Case No.: 11-11835

Chapter 11 Petition Date: April 26, 2011

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

Judge: Redfield T. Baum PCT Sr.

Debtor's Counsel: Dean William O'connor, Esq.
                  SALLQUIST, DRUMMOND & O'CONNOR PC
                  1430 E Missouri Ave #B-125
                  Phoenix, AZ 85014
                  Tel: (602) 224-9222
                  Fax: (602) 224-9366
                  E-mail: dean@sd-law.com

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

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

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

The petition was signed by Donna Chilleen, president.


KOLLEL MATEH: Court Dismisses Ch. Trustee's Suit v. Lefkowitz
-------------------------------------------------------------
Robert L. Geltzer, as Chapter 7 Trustee of the Estate of Kollel
Mateh Efraim, LLC, a/k/a Mateh Ephraim LLC, a/k/a Kolel Mateh
Efraim, v. Jack Lefkowitz and Abraham Steinwurzel, Adv. Proc. No.
08-1265 (Bankr. S.D.N.Y.), alleges that the Defendants breached
their fiduciary duties to the Debtor and should pay damages in the
principal amount of $245,779, plus interest. The damages reflect
the increased debt that the Debtor and the estate accrued by
continuing to occupy certain real property for approximately three
years.  The Court conducted a bench trial at which both Defendants
testified, and concludes that the Trustee failed to sustain his
burden of ultimate persuasion. Accordingly, the complaint will be
dismissed.

A copy of Bankruptcy Judge Stuart M. Bernstein's April 28, 2011
Post-Trial Decision is available at http://is.gd/sAbmHyfrom
Leagle.com.

Attorneys for Jack Lefkowitz and Abraham Steinwurzel are:

          Eli Feit, Esq.
          Stuart A. Blander, Esq.
          HELLER, HOROWITZ & FEIT, P.C.
          292 Madison Avenue, 20th Floor
          New York, NY 10017
          Tel: (212) 685-7600 x3016
          E-mail: efeit@hhandf.com
                  sablander@hhandf.com

Attorneys for the Chapter 7 Trustee is:

          Robert A. Wolf, Esq.
          SQUIRE, SANDERS & DEMPSEY LLP
          30 Rockefeller Plaza
          New York, NY 10112
          United States of America
          Tel: 212-872-9850
          Fax: 212-872-9815
          E-mail: robert.wolf@ssd.com

Mateh Epraim LLC, dba Kollel Mateh Epraim LLC, is a real estate
developer.  Mateh Epraim filed for Chapter 11 bankruptcy
protection (Bankr. S.D.N.Y. Case No. 04-17525) on Nov. 24, 2004.
Mark A. Frankel, Esq., at Backenroth Frankel & Krinsky, LLP,
served as bankruptcy counsel.  The debtor listed $740,000 in
assets and $2,852,700 in debts in its petition.  On October 25,
2007, the Court converted the chapter 11 case to case under
chapter 7, and Robert L. Geltzer, Esq. was appointed the Trustee.
The Chapter 7 Trustee is represented by:

          Robert A. Wolf, Esq.
          Daniel C. Mazanec, Esq.
          SQUIRE, SANDERS & DEMPSEY LLP
          30 Rockefeller Plaza
          New York, NY 10112
          Telephone: (212) 872-9800
          Facsimile: (212) 872-9815
          E-mail: rwolf@ssd.com
                  dmazanec@ssd.com


MAXIMUM LIFE: Case Summary & 5 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Maximum Life Christian Church, Inc.
        7507 Kingspoint Pkw, Suite 104
        Orlando, Fl 32819

Bankruptcy Case No.: 11-06157

Chapter 11 Petition Date: April 26, 2011

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

Debtor's Counsel: Lerone Thurston, Esq.
                  RUSTY LAW LLC
                  3700 US Highway 1 South
                  St. Augustine, FL 32086-7150
                  Tel: (904) 829-6600
                  Fax: (888) 395-5034
                  E-mail: lerone@rustylaw.com

Scheduled Assets: $1,003,700

Scheduled Debts: $843,589

A list of the Company's five largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/flmb11-06157.pdf

The petition was signed by Carroll Johnson, president.


MERCANTILE BANCORP: Receives Letter From NYSE Amex LLC
------------------------------------------------------
Mercantile Bancorp, Inc. reported it had received notice on April
29, 2011 from NYSE Amex, LLC indicating the Company is below
certain of the NYSE Amex's continued listing standards regarding
stockholders' equity, losses from continuing operations, and net
losses in two of its three most recent fiscal years, as set forth
in Sections 1003(a)(i), (ii) and (iv) of the Company Guide.  The
Company has been requested to submit a plan of compliance to the
Exchange by May 25, 2011 that demonstrates the Company's ability
to regain compliance with Sections 1003(a)(i) and (ii) by October
24, 2012 and Section 1003(a)(iv) by October 25, 2011.  If the
Company does not submit a plan or if the Exchange does not accept
the plan, the Company will be subject to delisting procedures as
set forth in Section 1010 and part 12 of the Company Guide.

                      About Mercantile Bancorp

Mercantile Bancorp, Inc. -- http://www.mercbanx.com/-- is a
Quincy, Illinois-based bank holding company with wholly-owned
subsidiaries consisting of one bank each in Illinois, Kansas, and
Florida, where the Company conducts full-service commercial and
consumer banking business, engages in mortgage banking, trust
services and asset management, and provides other financial
services and products.  The Company's largest subsidiary,
Mercantile Bank, also operates branch offices in Missouri and
Indiana.


MAJESTIC CAPITAL: Files for Chapter 11 in New York
--------------------------------------------------
Majestic Capital Ltd., a workers' compensation insurance provider,
filed for bankruptcy in Poughkeepsie, New York (Bankr. S.D.N.Y.
Case No. 11-36225) on April 29, 2011.

According to a court filing, the Company and its subsidiaries had
$436,191,000 in total assets and $421,757,000 in total liabilities
as of Dec. 31, 2010.

Five subsidiaries also sought Chapter 11 protection.

The Company reported a net loss of $48.6 million on $61.8 million
of total revenues for 2010, compared with a net loss of
$46.8 million on $96.8 million of total revenues for 2009.

As reported in the Troubled Company Reporter on April 27, 2011,
the Company said in a regulatory filing that it did not achieve
overall business, financial and shareholder performance
expectations for fiscal year 2010.  Net loss from continuing
operations in 2010 was $43.9 million compared to $45.2 million in
2009.  The major factors contributing to the net losses include:

-- a significant decrease in net written and net earned premiums
    due to the A.M. Best downgrade and ongoing recession;

-- unacceptable loss and loss adjustment and underwriting
    expenses given the lower in-force premium levels; and

-- severance and other charges taken in 2010 due to the
    substantial doubt concerning the Company's ability to
    continue as a going concern and resulting violation of
    contractual covenants.

The TCR also reported on April 27 Majestic Capital's announcement
that it received a notification from the California Department of
Insurance that the DOI Insurance Commissioner had placed its
principal subsidiary, Majestic Insurance Company, into
conservation and rehabilitation proceedings.  The Commissioner
simultaneously filed a motion seeking approval for a proposed
rehabilitation plan where Majestic Insurance's insurance
liabilities and certain assets will be transferred to AmTrust
North America, Inc.  Majestic Capital's management did not oppose
the conservation.

A complete text of the press release issued by the DOI pertaining
to such conservation and rehabilitation proceedings is available
for free at http://is.gd/yurFyG

                    About Majestic Capital

Hamilton, Bermuda-based Majestic Capital, Ltd.
-- http://www.MajesticCapital.com/-- through its subsidiaries, is
a specialty provider of workers' compensation insurance products
and services.

According to its annual report April 22, 2011, the Company had
more than 1,032 policyholders with average annual workers'
compensation primary insurance policy premium of $87 thousand,
as of Dec. 31, 2010.


MAJESTIC CAPITAL: Case Summary & 30 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Majestic Capital, Ltd.
        fdba CRM Holdings, Inc.
        2515 South Road
        P.O. Box 1999
        Poughkeepsie, NY 12601

Bankruptcy Case No.: 11-36225

Affiliates that sought Chapter 11 protection:

  Debtor                                        Case No.
  ------                                        --------
Majestic USA Capital, Inc.                      11-36221
Compensation Risk Manages, LLC                  11-36226
Compensation Risk Managers of California, LLC   11-36230
Eimar, LLC                                      11-36232
Embarcadero Insurance Holdings, Inc.            11-36234

Chapter 11 Petition Date: April 29, 2011

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

Judge: Cecelia G. Morris

Debtors' Counsel: Thomas Genova, Esq.
                  GENOVA & MALIN, ATTORNEYS
                  Hampton Business Center
                  1136 Route 9
                  Wappingers Falls, NY 12590-4332
                  Tel: (845) 298-1600
                  Fax: (845) 298-1265
                  E-mail: genmallaw@optonline.net

Debtors'
Co-Counsel:       MURPHY & KING, P.C.

Total Assets: $436,191,000 as of Dec. 31, 2010

Total Debts: $421,757,000 as of Dec. 31, 2010

The petitions were signed by James Scardino, chief executive
officer.

Consolidated List of 30 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
The Bank of New York Trust, Co.,   Guarantee           $36,000,000
N.A.
600 Travis Street, 50th Floor
Houston, TX 77002

Wilmington Trust Company           --                   $8,089,208
Rodney Square North
Wilmington, DE 19890

Kramer Levin Naftalis & Frankel    --                     $550,474
1177 Avenue of the Americas
New York, NY 10036

Lankler Siffert & Wohl, LLP        --                     $189,901

Appleby Service, Ltd.              --                     $142,864

New York State Department of       --                     $127,329
Taxation & Revenue

Thompson West Payment Center       --                      $68,650

Dunn & Bradstreet                  --                      $31,385

Insurance Marketing Agencies       --                      $25,007

Georgeson, Inc.                    --                      $23,202

Wholesale Retail Trust             --                      $15,012

Brown & Brown Empire State         --                      $14,780

Seward & Kissell, LLP              --                      $13,500

Wichler & Gobetz, PC               --                      $11,068

Johnson & Lambert & Co.            --                      $10,685

Spain Agency                       --                       $7,631

Garger Associates                  --                       $7,005

Contractors Access Program, et al. --                      unknown

Mark Tanner Construction, Inc.,    --                      unknown
et al.

California Plastering, Inc., et al.--                      unknown

Healthcare Industry Trust of New   --                      unknown
York, et al.

Beverly Munter                     --                      unknown

NYS Workers Compensation Board     --                      unknown

Armstrong Brands, Inc., et al.     --                      unknown

70 Sheldon Inc., et al.            --                      unknown

Arlen Senior Contracting of Central--                      unknown
Islip, LLC, et al.

Binghamton Giant Market, Inc.      --                      unknown

FS Kids, et al.                    --                      unknown

Three Brothers Electric, Inc.,     --                      unknown
et al.

H.C.F.A. Associates Corp., et al.  --                      unknown


MFJT LLC: May Use Cash Collateral Until May 19
----------------------------------------------
Judge Eugene R. Wedoff of the U.S. Bankruptcy Court for the
Northern District of Illinois, on the interim, authorized MFJT,
LLC, to use cash collateral through May 19, 2011, to the extent
set forth in certain budgets, a copy of which is available for
free at http://bankrupt.com/misc/MFJT_Budget_04062011.pdf

In return for the Debtor's continued interim use of cash
collateral, lender BACM 2007-3 Alsip Complex LLC is granted this
adequate protection for its purported secured interests:

   * The Debtor will permit the Lender to inspect the Debtor's
     books and records;

   * The Debtor will only make the expenditures set forth the
     Budgets plus no more than 10% of the total proposed expense
     payments in the Budgets unless otherwise agreed by the
     Lender or upon further Court order;

   * The Debtor will maintain and pay premiums for insurance to
     cover all of its assets from fire, theft and water damage;

   * The Debtor will escrow sufficient funds for the payment of
     current real estate taxes relating to the Property;

   * The Debtor will properly maintain and manage the Property;
     and

   * The Lender will be granted valid, perfected, enforceable
     security interests in and to the Debtor's postpetition
     assets.

A final hearing on the Cash Collateral Motion will be held on
May 11, 2011.

The Lender does not consent to the Debtor's use of cash collateral
beyond May 19, 2011.

Alsip, Illinois-based MFJT, LLC -- dba Somerset Park Apartments
and Somerset II -- filed for Chapter 11 bankruptcy protection
(Bankr. N.D. Ill. Case No. 11-11819) on March 22, 2011.  David K.
Welch, Esq., at Crane Heyman Simon Welch & Clar, serves as the
Debtor's bankruptcy counsel.  The Debtor estimated its assets and
debts at $10 million to $50 million.


MINOR FAMILY: Seeks Extension of Plan Filing Period to Sep. 1
-------------------------------------------------------------
Minor Family Hotels LLC asks the U.S. Bankruptcy Court for the
Western District of Virginia to extend the exclusive period for
the debtor to file a Chapter 11 plan until Sept. 1, 2011 and the
period to solicit acceptances of that plan to Nov. 1, 2011.

The Debtor says that it needs an extension because it is still
waiting for the State Court of Georgia to enter a ruling regarding
an adversary proceeding with Specialty Finance Group LLC.

A hearing is set for May 23, 2011 at 11:00 a.m.

                        About Minor Family

Charlottesvile, Virginia-based Minor Family Hotels, LLC, is the
owner of the Landmark Hotel project in downtown Charlottesville,
Virginia.  Minor Family filed for Chapter 11 bankruptcy protection
(Bankr. W.D. Va. Case No. 10-62543) on September 1, 2010.  Richard
C. Maxwell, Esq., and B. Webb King, Esq., at Woods Rogers PLC, in
Roanoke, Va., serve as bankruptcy counsel.  Minor Family estimated
assets and debts at $10 million to $50 million in its Chapter 11
petition.

As reported by the Troubled Company Reporter on September 3, 2010,
Dow Jones' DBR Small Cap said Minor Family Hotels filed for
Chapter 11 protection to resolve "burdensome" lawsuits that have
delayed the hotel's construction.  Eight lawsuits have been filed
in connection with the project.


ML PROPERTIES: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: ML Properties, Inc.
        2862 W. 8th St.
        Los Angeles, CA 90005

Bankruptcy Case No.: 11-28087

Chapter 11 Petition Date: April 26, 2011

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

Judge: Vincent P. Zurzolo

Debtor's Counsel: John Eom, Esq.
                  LAW OFFICE OF JOHN EOM
                  3700 Wilshire Blvd Ste 1019
                  Los Angeles, CA 90010
                  Tel: (213) 384-3326
                  Fax: (213) 387-2300

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 Michele Lee, president.


MMRGLOBAL INC: George Rebensdorf Resigns from Board
---------------------------------------------------
George Rebensdorf, the sole Class II director of the Board of
Directors of MMRGlobal, Inc., announced his intent to resign from
the Board, effective immediately.  Mr. Rebensdorf's term was
scheduled to expire at the Company's 2011 Annual Meeting of the
Stockholders, but Mr. Rebensdorf elected to resign 45 days early
for unrelated business reasons.  There were no disagreements
between the Company and Mr. Rebensdorf which led to Mr.
Rebensdorf's decision to resign from the Board.

As a result of Mr. Rebensdorf's decision, the Company anticipated
that the scheduled election of Class II directors at the 2011
Annual Meeting of the Stockholders would not take place, due to a
lack of nominees for such Board positions.  However, pursuant to
Delaware law, the jurisdiction of the Company's incorporation, the
Company must hold an annual meeting of the stockholders for the
election directors to the Board.  As a result, on April 22, 2011,
Robert H. Lorsch, a Class III director and Chairman of the Board,
elected to resign as a Class III director and Chairman of the
Board and was immediately thereafter appointed by the remaining
directors, pursuant to the Company's Amended and Restated
Certificate of Incorporation, as amended, and Amended and Restated
Bylaws, as a Class II director of the Company and Chairman of the
Board, filling a previously vacant Class II Board seat.
Therefore, Mr. Lorsch will run as the sole Class II director
nominee for reelection to the Board at the Annual Meeting.

Concurrently with his appointment as a Class II director and
Chairman of the Board, Mr. Lorsch was reappointed to each of the
Board committees on which he served prior to his resignation.

In connection with the foregoing, the Board adopted resolutions,
pursuant to the Organizational Documents, reducing the fixed
number of directors of the Company from seven to five.

                          About MMRGlobal

Los Angeles, Calif.-based MMR Global, Inc. (OTC BB: MMRF)
-- http://www.mmrglobal.com/-- through its wholly-owned operating
subsidiary, MyMedicalRecords, Inc., provides secure and easy-to-
use online Personal Health Records (PHRs) and electronic safe
deposit box storage solutions, serving consumers, healthcare
professionals, employers, insurance companies, financial
institutions, and professional organizations and affinity groups.

As reported by the TCR on April 7, 2011, Rose, Snyder & Jacobs, in
Encino, Calif., expressed substantial doubt about MMRGlobal's
ability to continue as a going concern.  The independent auditors
noted that the Company has incurred significant operating losses
and negative cash flows from operations during the year ended Dec.
31, 2010, and 2009.

The Company reported a net loss of $17.9 million on $972,988 of
revenues for 2010, compared with a net loss of $10.3 million on
$619,249 of revenues for 2009.

At Dec. 31, 2010, the Company's balance sheet showed $2.2 million
in total assets, $6.6 million in total liabilities, and a
stockholders' deficit of $4.4 million.


MOMENTIVE PERFORMANCE: Moody's Assigns B3 Corporate Family Rating
-----------------------------------------------------------------
Moody's Investors Service changed the rating outlook for Momentive
Performance Materials Inc. to positive from stable reflecting the
meaningful improvement in performance throughout 2010 and the
expectation that profits will remain elevated despite rising raw
material costs. Moody's also affirmed the company's other ratings
(Corporate Family Rating at B3), and assigned a Ba3 rating to its
amended credit facility.

"The benefit from increasing demand in 2010 was magnified by
management's previously implemented restructuring activities, and
this resulted in meaningful financial performance improvement,"
stated John Rogers Senior Vice President at Moody's.

RATINGS RATIONALE

Moody's positive outlook reflects the improvement in performance
throughout 2010, MPM's enhanced liquidity position, and the
improved maturity schedule as a result of the February 2011
extension and amendment of the credit agreement. The outlook also
holds the expectation that EBITDA will remain above $100
million/quarter. If MPM is able to demonstrate continued operating
performance improvement such that FCF/debt remains above 4% and
RCF/Debt rises above 8%, Moody's will consider the appropriateness
of a higher rating. In considering a higher rating Moody's will
also look for more progress in addressing the company's overall
level of debt. However, if the company's cash and revolver
availability falls, or appears likely to fall, significantly below
$200 million for a sustained period, the ratings would come under
pressure.

The B3 Corporate Family Rating (CFR) continues to be constrained
by MPM's elevated leverage. However, the company has increased
cash flow from operations and is generating improved cash flow
based credit metrics. Moody's expects increases to EBITDA and cash
flow over the next year and anticipate further reductions in debt.
The positive outlook reflects a projected decline in MPM's 2011
Net Debt/EBITDA to below 6.5x and Retained Cash Flow/Net Debt to
over 7%. The aforementioned ratios reflect Moody's Global Standard
Adjustments which include the capitalization of pensions,
operating leases and over $600 million of holdco PIK debt that
accretes at 11% per year. Moody's also noted that MPM's parent
company Momentive Performance Materials Holdings LLC has filed a
registration statement with the SEC for an initial public
offering. If IPO proceeds were used to repay a significant amount
of debt (>$600 million) this could also positively impact the
company's credit rating.

Rating assigned:

   Momentive Performance Materials Inc.

   -- Guaranteed senior secured term loan due 2015 at Ba3 (LGD2,
      12%)

Ratings affirmed:

   Momentive Performance Materials Inc.

   -- Corporate Family Rating at B3
   -- Probability of Default Rating at B3
   -- Speculative grade liquidity rating at SGL-2
   -- Guaranteed senior secured term loan due 2013 at Ba3 (LGD2,
      12%)

   -- Guaranteed senior secured revolver due 2014 at Ba3 (LGD2,
      12%)

   -- Guaranteed senior secured 2nd lien notes due 2014 at B2
      (LGD3, 37%)

   -- Guaranteed senior unsecured notes due 2021 at Caa1 (LGD4,
      59%)

   -- Senior subordinated notes due 2016 at Caa2 (LGD5,86%)

The principal methodology used in rating Momentive's was the
Global Chemical Industry Methodology, published December 2009.
Other methodologies used include Loss Given Default for
Speculative Grade Issuers in the US, Canada, and EMEA, published
June 2009

Momentive Performance Materials Inc., headquartered in Albany, New
York, is the second largest producer of silicones and silicone
derivatives worldwide. The company has two divisions: silicones
(which accounted for >90% of revenues) and quartz. Silicones, or
more accurately polymerized siloxanes or polysiloxanes, are mixed
inorganic-organic polymers that are used in a wide variety of
industrial and consumer applications including agriculture,
automotive, electronics, healthcare, paper , personal care,
textiles and sealants (the most recognizable application is for
bathroom, kitchen and window sealants around the home). Revenues
in 2010 were $2.6 billion.

Momentive Performance Materials Inc. is an indirect wholly-owned
subsidiary of Momentive Performance Materials Holdings LLC (MPMH),
headquartered in Columbus Ohio. An affiliate of Apollo Management
is the majority owner of MPMH.


MONTECITO AT MIRABEL: Court Dismisses Chapter 11 Case
-----------------------------------------------------
U.S. Bankruptcy Court for the District of Arizona has dismissed
the Chapter 11 case of Montecito At Mirabel Development, L.L.C.
after the Debtor and Compass Bank reached an agreement at the
March 29, 2011 hearing.

Compass Bank previously filed an objection to the Debtor' request
to dismiss the Chapter 11 case.

Mesa, Arizona-based Montecito At Mirabel Development, L.L.C. --
dba Montecito @ Mirabel Development, LLC -- filed for Chapter 11
bankruptcy protection (Bankr. D. Ariz. Case No. 09-33899) on
Dec. 31, 2009.  Randy Nussbaum, Esq., at Nussbaum & Gillis, P.C.,
assists the Company in its restructuring effort.  The Company
estimated $10,000,001 to $50,000,000 in assets and liabilities.


NEC HOLDINGS: Wants to Hire CB Richard Ellis as Broker
------------------------------------------------------
NEC Holdings Corp. and its debtor affiliates seek authority from
the U.S. Bankruptcy Court for the District of Delaware to employ
CB Richard Ellis, Inc., as their real estate broker for the
purposes of marketing and selling a property located at 400
Clermont Terrace, in Union, New Jersey 07083, pursuant to Sections
327(a) and 328(a) of the Bankruptcy Code, nunc pro tunc to
December 2, 2010.

Subject to the Debtors' direction and further Court order, CBRE
will, among other things:

   (a) have the sole and exclusive right to lease or sell the
       Union, New Jersey Property for a term of 12 months
       beginning on December 2, 2010; and

   (b) at its sole cost, have the exclusive right to erect a
       suitable sign at the Union, New Jersey Property and all
       inquiries with respect to the lease of the Union, New
       Jersey Property made during the term of CBRE's engagement
       will be referred by the Debtors to CBRE.

The Debtors also ask the Court to approve this fee structure
relating to CBRE's engagement:

   -- If and when a sale or transfer of title for the Union, New
      Jersey Property is completed, the Debtors will pay CBRE a
      commission of 5% of the total sale price;

   -- The minimum commission will be $200,000 in the event title
      transfers without the aid of a cooperating broker and
      $300,000 in the event title transfers with the aid of a
      cooperating broker, provided that if the Property is sold
      to that certain purchaser previously identified by the
      Debtors or an affiliate thereof, the minimum commission
      will be $150,000, provided, further, that if the Property
      is sold to Environmental Liability Transfer, Inc., or an
      affiliate thereof, CBRE will only be entitled to receive a
      commission of $100,000;

   -- CBRE agrees to cooperate with all interested licensed real
      estate brokerage firms and in the event a sale or lease is
      consummated through a cooperating broker, working with or
      through CBRE, then and in that event, if the commission is
      greater than $300,000, the commission will be shared on a
      mutually agreeable basis between CBRE and the cooperating
      broker; and

   -- After expiration or termination of the parties' Engagement
      Letter, the Debtors will pay CBRE a commission if the
      Union, New Jersey Property is sold or leased to, or the
      Debtors enter into a contract of sale or lease of the
      property with, any person or entity with whom CBRE has
      negotiated or to whom the property has been submitted prior
      to the expiration of the term of the Engagement Letter.

For its services, CBRE will receive a commission if permitted by
the Fee Structure, and will not be entitled to seek reimbursement
for expenses.

Based on the affidavit of William Waxman, Executive Vice President
at CBRE, the Debtors submit that CBRE is a "disinterested person"
as that term is defined in Section 101(14) of the Bankruptcy Code.

                       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
Pachuiski 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.


NEC HOLDINGS: Asks Release of $385,287 in Cash from Policies
------------------------------------------------------------
NEC Holdings Corp., and its debtor affiliates ask order from the
U.S. Bankruptcy Court for the District of Delaware authorizing the
(i) cash surrender of certain insurance policies, and (ii) release
the funds to the Debtors.

On October 27, 1972, The Guardian Life Insurance Company of
America issued an insurance policy on the life of William Unger.
Similarly, The Prudential Insurance Company of America or its
affiliates issued four insurance policies on the life of William
Unger.  The Debtors own and are the beneficiary of the Guardian
Policy and the Prudential Policies, and have been paying the
Policies' premiums.  The current cash surrender value is
approximately $72,000 for the Guardian Policy and $313,287 for the
four Prudential Policies.

The Debtors submit that the continued maintenance of each of the
Policies is unnecessary to their business operations, as they are
in the process of liquidating their remaining assets.  Further,
maintenance of these Policies will not benefit the Debtors'
bankruptcy estates or their creditors, and will serve only to
limit the creditors' potential recovery, Michael R. Nestor, Esq.,
at Young Conaway Stargatt & Taylor LLP, in Wilmington, Delaware,
contends.

The Court will consider the motion on May 9, 2011.

                       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
Pachuiski 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.


NEJA ENTERPRISES: Case Summary & 4 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Neja Enterprises IV, Inc.
        dba Friendly City Car Wash
        3511 Manatee Avenue West
        Bradenton, FL 34205

Bankruptcy Case No.: 11-07927

Chapter 11 Petition Date: April 27, 1978

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

Debtor's Counsel: Matthew J. Kovschak, Esq.
                  MATTHEW J. KOVSCHAK PA
                  P.O. Box 989
                  Bartow, FL 33831-0989
                  Tel: (863) 285-6808
                  E-mail: mjkovschak@aol.com

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

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

A list of the Company's four largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/flmb11-07927.pdf

The petition was signed by Duane Henderson, president.

Affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Duane & Barbara Henderson              10-16237   07/06/10
Neja Enterprises II, Inc.              10-16413   07/08/10


NEW LIFE: Case Summary & 33 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: New Life Holy Ghost Deliverance Ministries, Inc.
        2451 NW 79 St.
        Miami, FL 33147

Bankruptcy Case No.: 11-21265

Chapter 11 Petition Date: April 27, 2011

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

Judge: A. Jay Cristol

Debtor's Counsel: Robert C. Meyer, Esq.
                  ROBERT C MEYER PA
                  2223 Coral Way
                  Miami, FL 33145
                  Tel: (305) 285-8838
                  Fax: (305) 285-8919
                  E-mail: meyerrobertc@cs.com

Scheduled Assets: $701,000

Scheduled Debts: $1,673,542

A list of the Company's 33 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/flsb11-21265.pdf

The petition was signed by Sheena Gooden, president.


NEWPAGE CORP: Names Ronald Arling as Controller and CAO
-------------------------------------------------------
NewPage Corporation announced the appointment of Ronald J. Arling
to the position of controller and chief accounting officer,
effective April 25, 2011.

Mr. Arling will report to the senior vice president and chief
financial officer.  Mr. Arling has managed key areas of the
finance function including general accounting, internal audit,
credit and collections and financial analysis.  He joined NewPage
in November 2006 as internal audit director, in April 2009
advanced to assistant controller and in November 2010 was promoted
to controller.  Prior to joining NewPage, Mr. Arling held finance
positions of increasing responsibility with large companies in
diverse industries including CareSource Management Group, Co.,
Inc., Reynolds & Reynolds, NCR Corporation and Deloitte & Touche
LLP.

Mr. Arling will be responsible for managing the corporate
accounting and reporting process and ensuring that all financial
statements and filings are accurate, complete and timely.  In
addition, he will make certain that corporate-wide accounting
policies and appropriate controls are in place in accordance with
generally accepted accounting principles and work with operations
and other finance functions to improve accounting and reporting
capabilities.

                        About NewPage Corp.

Headquartered in Miamisburg, Ohio, NewPage Corporation --
http://www.NewPageCorp.com/-- is a coated paper manufacturer in
North America, based on production capacity, with $3.1 billion in
net sales for the year ended Dec. 31, 2009.  The company's
product portfolio is the broadest in North America and includes
coated freesheet, coated groundwood, supercalendered, newsprint
and specialty papers.  These papers are used for corporate
collateral, commercial printing, magazines, catalogs, books,
coupons, inserts, newspapers, packaging applications and direct
mail advertising.

NewPage owns paper mills in Kentucky, Maine, Maryland, Michigan,
Minnesota, Wisconsin and Nova Scotia, Canada.  These mills have a
total annual production capacity of approximately 4.4 million tons
of paper, including approximately 3.2 million tons of coated
paper, approximately 1.0 million tons of uncoated paper and
approximately 200,000 tons of specialty paper.

The Company reported a net loss of $674 million on $3.59 billion
of net sales for the year ended Dec. 31, 2010, compared with a net
loss of $318 million on $3.10 billion on net sales during the
prior year.

The Company's balance sheet at Dec. 31, 2010 showed $3.51 billion
in total assets, $4.39 billion in total liabilities and
$875 million in total deficit.

                           *     *     *

NewPage carries a 'CCC+' corporate credit rating from, with
negative outlook, from Standard & Poor's.  It has 'Caa1' long term
corporate family and probability of default ratings from Moody's.

Standard & Poor's Ratings Services in November 2010 revised its
recovery rating on NewPage Corp.'s senior secured first-lien notes
to '4' from '3'. "S&P believes that a '4' recovery more
appropriately conveys the risk that the company's postdefault
enterprise value may be affected by stresses more severe than what
S&P's analysis contemplates given the highly cyclical industry in
which NewPage operates," said Standard & Poor's credit analyst
Tobias Crabtree.


NORTEL NETWORKS: Euro Units Assert $10BB in Intercompany Claims
---------------------------------------------------------------
Peg Brickley, writing for Dow Jones' Daily Bankruptcy Review,
reports that Nortel Networks Corp.'s European units have asserted
more than $10 billion in claims against their Canadian parent for
a variety of alleged wrongs, including unpaid loans, customer
revenue not received and pensions left unfunded.  The claim
includes $4.6 billion in damages for alleged mismanagement under
French law.  The mismanagement claim aimed at Nortel Networks Ltd.
comes from a liquidator dealing with Nortel Networks SA in France.

DBR relates the intercompany claims were listed in a report filed
publicly Thursday by Ernst & Young, monitor of Nortel's Canadian
insolvency proceeding.  The demands for payment from Nortel's
European units are enough to double the size of the claims filed
in the Canadian case, according to the report, which was filed
with the U.S. Bankruptcy Court in Wilmington, Delaware.

According to DBR, Ernst & Young said if the Nortel European claims
survive court tests, unsecured creditors of the Canadian parent
will see a significant reduction in the amounts they will receive.
DBR says Ernst & Young warned that if the European claims aren't
decided quickly, the European units could succeed in tying up the
company's cash pending a resolution -- meaning no one will get
paid out of the Canadian case until the courts have ruled on the
litany of various alleged wrongs listed in the European unit
claims.

                       About Nortel Networks

Nortel Networks (OTC BB: NRTLQ) -- http://www.nortel.com/-- was
once North America's largest communications equipment provider.
It has sold most of the businesses while in bankruptcy.

Nortel Networks Corp., Nortel Networks Inc., and other affiliated
corporations in Canada sought insolvency protection under the
Companies' Creditors Arrangement Act in the Ontario Superior Court
of Justice (Commercial List).  Ernst & Young was appointed to
serve as monitor and foreign representative of the Canadian Nortel
Group.

The Monitor sought recognition of the CCAA Proceedings in the
U.S. by filing a bankruptcy petition under Chapter 15 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10164).  Mary Caloway,
Esq., and Peter James Duhig, Esq., at Buchanan Ingersoll & Rooney
PC, in Wilmington, Delaware, serves as the Chapter 15 petitioner's
counsel.

Nortel Networks Inc. and 14 affiliates filed separate Chapter 11
petitions (Bankr. D. Del. Case No. 09-10138) on Jan. 14, 2009.
Judge Kevin Gross presides over the case.  James L. Bromley, Esq.,
at Cleary Gottlieb Steen & Hamilton, LLP, in New York, serves as
general bankruptcy counsel; Derek C. Abbott, Esq., at Morris
Nichols Arsht & Tunnell LLP, in Wilmington, serves as Delaware
counsel.  The Chapter 11 Debtors' other professionals are Lazard
Freres & Co. LLC as financial advisors; and Epiq Bankruptcy
Solutions LLC as claims and notice agent.  Fred S. Hodara, Esq.,
at Akin Gump Strauss Hauer & Feld LLP, in New York, and
Christopher M. Samis, Esq., at Richards, Layton & Finger, P.A.,
in Wilmington, Delaware, represent the Official Committee of
Unsecured Creditors.

Certain of Nortel's European subsidiaries also made consequential
filings for creditor protection.  On May 28, 2009, at the request
of the Administrators, the Commercial Court of Versailles, France
ordered the commencement of secondary proceedings in respect of
Nortel Networks S.A.  On June 8, 2009, Nortel Networks UK Limited
filed petitions in this Court for recognition of the English
Proceedings as foreign main proceedings under chapter 15 of the
Bankruptcy Code.

Nortel Networks divested off key assets while in Chapter 11.
In March 2009, the U.S. Bankruptcy Court entered an order
approving the sale of the Layer 4-7 assets to Radware Ltd. as the
successful bidder at auction.  In July 2009, Nortel sold its CDMA
and LTE-related assets to Telefonaktiebolaget LM Ericsson (Publ).
In September 2009, the Court Nortel sold its Enterprise Solutions
business to Avaya Inc.  In October 2009, the Court approved the
sale of assets associated with Nortel's Next Generation Packet
Core network components to Hitachi, Ltd.  On Dec. 2, 2009, the
Court approved the sale of assets associated with Nortel's
GSM/GSM-R business to Telefonaktiebolaget LM Ericsson (Publ) and
Kapsch Carriercom AG.  In December 2009, the Debtors sold their
Metro Ethernet Networks business to Ciena Corporation.  In March
2010, Nortel sold its Carrier Voice Over IP and Application
Solutions business to GENBAND Inc.  In September 2010, Nortel sold
its Multi-Service Switch business to Ericsson.

Nortel Networks filed a proposed plan of liquidation in the
U.S. Bankruptcy Court.  The Plan generally provides for full
payment on secured claims with other distributions going in
accordance with the priorities in bankruptcy law.


NORTEL NETWORKS: Patent Sale Hearing Today
------------------------------------------
Marie Beaudette, writing for Dow Jones' Daily Bankruptcy Review,
reports that Nortel Networks Corp. will seek permission to auction
off its portfolio of patents, with Internet giant Google Inc.
opening bidding with a $900 million lead offer.

Nortel has said that it has about 6,000 patents and patent
applications.  According to DBR, Google's move to buy the patents
is seen by some as a bid by the company to protect itself against
patent litigation, which has been on the rise recently as so-
called "patent trolls" file lawsuits against big technology
companies.

"This is an unprecedented opportunity to acquire one of the most
extensive and compelling patent portfolios to ever come on the
market," George Riedel, Nortel's chief strategy officer, said in a
statement.

According to DBR, Nortel will seek court approval to hold an
auction on June 20 and to pay Google a $25 million breakup fee for
serving as the stalking-horse bidder if it's bested at auction.

DBR notes that in the event that no one bids against Google,
Nortel will still have raised more than $4 billion in its global
liquidation.

                       About Nortel Networks

Nortel Networks (OTC BB: NRTLQ) -- http://www.nortel.com/-- was
once North America's largest communications equipment provider.
It has sold most of the businesses while in bankruptcy.

Nortel Networks Corp., Nortel Networks Inc., and other affiliated
corporations in Canada sought insolvency protection under the
Companies' Creditors Arrangement Act in the Ontario Superior Court
of Justice (Commercial List).  Ernst & Young was appointed to
serve as monitor and foreign representative of the Canadian Nortel
Group.

The Monitor sought recognition of the CCAA Proceedings in the
U.S. by filing a bankruptcy petition under Chapter 15 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10164).  Mary Caloway,
Esq., and Peter James Duhig, Esq., at Buchanan Ingersoll & Rooney
PC, in Wilmington, Delaware, serves as the Chapter 15 petitioner's
counsel.

Nortel Networks Inc. and 14 affiliates filed separate Chapter 11
petitions (Bankr. D. Del. Case No. 09-10138) on Jan. 14, 2009.
Judge Kevin Gross presides over the case.  James L. Bromley, Esq.,
at Cleary Gottlieb Steen & Hamilton, LLP, in New York, serves as
general bankruptcy counsel; Derek C. Abbott, Esq., at Morris
Nichols Arsht & Tunnell LLP, in Wilmington, serves as Delaware
counsel.  The Chapter 11 Debtors' other professionals are Lazard
Freres & Co. LLC as financial advisors; and Epiq Bankruptcy
Solutions LLC as claims and notice agent.  Fred S. Hodara, Esq.,
at Akin Gump Strauss Hauer & Feld LLP, in New York, and
Christopher M. Samis, Esq., at Richards, Layton & Finger, P.A.,
in Wilmington, Delaware, represent the Official Committee of
Unsecured Creditors.

Certain of Nortel's European subsidiaries also made consequential
filings for creditor protection.  On May 28, 2009, at the request
of the Administrators, the Commercial Court of Versailles, France
ordered the commencement of secondary proceedings in respect of
Nortel Networks S.A.  On June 8, 2009, Nortel Networks UK Limited
filed petitions in this Court for recognition of the English
Proceedings as foreign main proceedings under chapter 15 of the
Bankruptcy Code.

Nortel Networks divested off key assets while in Chapter 11.
In March 2009, the U.S. Bankruptcy Court entered an order
approving the sale of the Layer 4-7 assets to Radware Ltd. as the
successful bidder at auction.  In July 2009, Nortel sold its CDMA
and LTE-related assets to Telefonaktiebolaget LM Ericsson (Publ).
In September 2009, the Court Nortel sold its Enterprise Solutions
business to Avaya Inc.  In October 2009, the Court approved the
sale of assets associated with Nortel's Next Generation Packet
Core network components to Hitachi, Ltd.  On Dec. 2, 2009, the
Court approved the sale of assets associated with Nortel's
GSM/GSM-R business to Telefonaktiebolaget LM Ericsson (Publ) and
Kapsch Carriercom AG.  In December 2009, the Debtors sold their
Metro Ethernet Networks business to Ciena Corporation.  In March
2010, Nortel sold its Carrier Voice Over IP and Application
Solutions business to GENBAND Inc.  In September 2010, Nortel sold
its Multi-Service Switch business to Ericsson.

Nortel Networks filed a proposed plan of liquidation in the
U.S. Bankruptcy Court.  The Plan generally provides for full
payment on secured claims with other distributions going in
accordance with the priorities in bankruptcy law.


PARK AVENUE BANK: Closed; Bank of the Ozarks Assumes All Deposits
-----------------------------------------------------------------
Bank of the Ozarks of Little Rock, Ark., acquired the banking
operations, including all the deposits, of two Georgia-based
banks.  To protect depositors, the Federal Deposit Insurance
Corporation entered into purchase and assumption agreements with
Bank of the Ozarks.

First Choice Community Bank of Dallas, Ga., and The Park Avenue
Bank of Valdosta, Ga., were closed on Friday, April 29, 2011, by
the Georgia Department of Banking and Finance, which appointed the
FDIC as receiver.

All 19 branches of the two closed banks will reopen during their
normal business hours as branches of Bank of the Ozarks.
Depositors of the two failed banks will automatically become
depositors of Bank of the Ozarks.  Deposits will continue to be
insured by the FDIC, so there is no need for customers to change
their banking relationship in order to retain their deposit
insurance coverage up to applicable limits.  First Choice
Community Bank had seven branches in Georgia; and The Park Avenue
Bank had eleven branches in Georgia and one branch in Florida.

As of December 31, 2010, First Choice Community Bank had total
assets of $308.5 million and total deposits of $310.0 million; and
The Park Avenue Bank had total assets of $953.3 million and total
deposits of $827.7 million.  Besides assuming all the deposits
from the two Georgia banks, Bank of the Ozarks will purchase
essentially all of their assets.

The FDIC and Bank of the Ozarks entered into loss-share
transactions on the failed banks' assets.  The loss-share
transaction for First Choice Community Bank was $260.7 million;
and the loss-share transaction for The Park Avenue Bank was $514.1
million.  Bank of the Ozarks will share in the losses on the asset
pools covered under the loss-share agreements.  The loss-share
transactions are projected to maximize returns on the assets
covered by keeping them in the private sector.  The transactions
also are expected to minimize disruptions for loan customers.  For
more information on loss share, please visit:

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

Customers who have questions about the transactions can call the
FDIC toll free: for First Choice Community Bank customers, 1-800-
894-7035; and for The Park Avenue Bank customers, 1-800-894-5183.
Interested parties also can visit the FDIC's Web sites: for First
Choice Community Bank,

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

and for The Park Avenue Bank,

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

The FDIC estimates that the cost to the Deposit Insurance Fund for
First Choice Community Bank will be $92.4 million; and for The
Park Avenue Bank, $306.1 million.  Bank of the Ozarks' acquisition
of all the deposits of the two institutions was the "least costly"
option for the DIF compared to all alternatives.

The closings are the 37th and 38th FDIC-insured institutions to
fail in the nation so far this year and the ninth and tenth in
Georgia.  Prior to April 29, the last bank closed in the state was
New Horizons Bank, East Ellijay, on April 15, 2011.


PETRA FUND: Court Appoints Jack F. Williams as Examiner
-------------------------------------------------------
Judge Shelley C. Chapman of the U.S. Bankruptcy Court for the
Southern District of New York appointed Jack F. Williams as
examiner for the bankruptcy cases of Petra Fund Reit Corp. and its
affiliates.

Tracy Hope Davis, the United States Trustee for Region 2, filed
the request for appointment of Mr. Williams, after consultation
with the Debtors and parties-in-interest.

                        About Petra Fund

Petra Fund REIT Corp. and its affiliates are in the business of
originating, investing in, structuring and trading loans secured
by commercial real-estate.  Petra Offshore Fund LP is the parent.

Petra Fund and Petra Offshore sought Chapter 11 protection (Bankr.
S.D.N.Y. Lead Case No. 10-15500) on Oct. 20, 2010, and are
represented by Shaya M. Berger, Esq., and Brian E. Goldberg, Esq.,
at Dickstein Shapiro, LLP.  At the time of the filing, each of the
Debtor estimated its assets at less than $10 million and its debts
at more than $100 million.

Petra Fund blamed its Chapter 11 filing on the extraordinary and
unprecedented collapse of the credit and commercial real estate
markets, which caused a mark-to-market value of its assets to
plummet.


PETRA FUND: Court Extends Plan Solicitation Exclusivity
-------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
entered a bridge order on Petra Fund Reit Corp. and its debtor
affiliates' motion to extend the exclusive period during which
they may solicit plan acceptances.

The Debtors have asked the Court to extend their Exclusive
Solicitation Period through August 16, 2011.

Since the hearing on the Extension Motion is set for May 11, 2011,
which is after the date the current Exclusive Solicitation Period
expires, Judge Shelley C. Chapman extended that period through the
date that the Court enters an order determining the Extension
Motion, without prejudice to the relief requested in the Extension
Motion.

                        About Petra Fund

Petra Fund REIT Corp. and its affiliates are in the business of
originating, investing in, structuring and trading loans secured
by commercial real-estate.  Petra Offshore Fund LP is the parent.

Petra Fund and Petra Offshore sought Chapter 11 protection (Bankr.
S.D.N.Y. Lead Case No. 10-15500) on Oct. 20, 2010, and are
represented by Shaya M. Berger, Esq., and Brian E. Goldberg, Esq.,
at Dickstein Shapiro, LLP.  At the time of the filing, each of the
Debtor estimated its assets at less than $10 million and its debts
at more than $100 million.

Petra Fund blamed its Chapter 11 filing on the extraordinary and
unprecedented collapse of the credit and commercial real estate
markets, which caused a mark-to-market value of its assets to
plummet.


RASER TECHNOLOGIES: Files for Chapter 11 in Delaware
----------------------------------------------------
Raser Technologies Inc. sought bankruptcy protection along with 19
affiliates (Bankr. D. Del. Lead Case No. 11-11315) on April 29,
2011.  Raser has a restructuring agreement worked out with
bondholders and secured creditors.

The Company, based in Provo, Utah, disclosed in a court filing
that it had $107.8 million in debt and $41.8 million in assets as
of Dec. 31, 2010.

"The Company will restructure substantially all of its
liabilities, including over $90 million of secured and unsecured
debt and over $5 million in trade obligations and other claims,
and will receive an infusion of new capital to ensure that the
Company will be in a position to continue its operations," the
company said in a statement issued April 29.  Business operations
won't be affected by the bankruptcy, said Chief Executive Officer
Nick Goodman.

The Debtors' capital structure consists of secured and unsecured
debt: (i) $10,326,878 owed under a secured project-financing
involving Debtor Thermo No.1 BE-01, LLC, certain other of the
Debtors, and the Thermo Lenders, consisting of Prudential
Insurance Company of America, Zurich American Insurance Company
and Deutsche Bank Trust Company Americas; (ii) $22.6 million owed
under an unsecured note owed by Raser and certain subsidiary
Debtors to Merrill Lynch, Pierce, Fenner & Smith; (iii)
$57,200,000 owed under certain 8% convertible senior notes due
2013; (iv) a $1.15 million secured note issued by Raser to
Evergreen Clean Energy, LLC; (v) a $2.4 million unsecured line of
credit from Bombay Investments and Evergreen Clean Energy Fund
LLC; (vi) a $3,500,000 outstanding balance under a secured
financing provided by Evergreen-FE Lightning Dock, LLC, related to
the Debtor's Lightning Dock plant in New Mexico; (vii) a $750,000
secured bridge loan provided by Linden Capital LP; and (viii)
$3,000,000 owed under various unsecured trade debt.

Raser Technologies Inc. (NYSE: RZ) is a renewable energy company
focusing on geothermal power development.  The Company has one
operating plant in Utah and another eight early and development
stage projects in Utah, New Mexico, Nevada and Oregon.  The
Company invested $120 million in Thermo No. 1, its sole operating
plant, which is near Beaver, Utah, and has a power generation
capacity of 10 megawatts.  The City of Anaheim, California, agreed
in 2008 to buy the generated electricity for 20 years.

The Company hasn't recorded a profit since it began posting its
results in the quarter ending March 31, 2001, according to data
compiled by Bloomberg News.

                      Road to Chapter 11

Nicholas Goodman, CEO and chairman of the board of directors,
relates that since its inception, Raser has invested more than
$200 million in acquiring rights to geothermal resources,
research, drilling and developing certain of those resources, and
constructing geothermal power projects.

Mr. Goodman relates unfortunately, the Debtors' only fully
operational power plant, Thermo No. 1, has failed to reach its
full output potential.  Currently, the Thermo No. 1 plant
generates 8 MW of gross electrical power.  After deducting the
"parasitic" load required to power the plant, the net power
generated that is available for sale is approximately 6 MW.  Both
the gross output and the net output of the plant are well below
the amounts that the plant was designed to produce due to a number
of potential factors, salient among them inefficiencies occurring
as a result of the failure of certain equipment to perform to
contractual specifications, and the costs to operate and maintain
said equipment.

According to Mr. Goodman, "Given the historically tight credit
markets of recent years, the highly leveraged nature of the
Debtors' capital structure, the overall economic downturn and the
failure of the Thermo No. 1 plant to reach expected output levels,
the Debtors have faced increasing liquidity issues.  In the year
preceding the Petition Date, the Debtors have sought capital
infusions in the form of both equity and debt, but have been
unsuccessful in raising the liquidity necessary to maintain their
operations or address the continuing capital required to complete
the Lightning Dock project or address the mechanical and design
deficiencies at the Thermo No. 1 project."

"As it became clear that the Debtors would be unable to secure the
necessary liquidity to maintain their operations, they sought to
reduce their cash bum through strategic layoffs, transitioned from
their corporate headquarters into more modest office space, and
conducted several private sales of geothermal leasehold interests
to generate cash.  Further, the Debtors worked with Evergreen-FE
in an effort to consummate the equity investment in the Lightning
Dock project contemplated in the Evergreen-FE Letter Agreement.
That equity investment has not come to fruition.  Finalizing that
transaction would have reduced or eliminated the Debtors' capital
commitment to complete the project, but preserved their ability to
realize the significant potential upside associated with the
Lightning Dock plant."

In addition, the Debtors engaged Cannaccord Genuity, an investment
bank that specializes in, among other things, financing and
investments in renewable energy projects, to seek potential
investors or acquirers for the Thermo No. 1 plant as well as
"Strategic Partners" that would invest the necessary capital into
the company.  Since July 2010, Cannaccord Genuity has marketed the
Thermo No. 1 project and the Raser Corporate entity to more than
30 strategic buyers and financial investors.  While several
parties have conducted due diligence and indicated an interest in
acquiring the Thermo No. 1 project or partnering with the company,
the Debtors have been unable to secure a firm offer that would be
sufficient to satisfy the secured claims related to those assets
or that would provide any real recovery to the Debtors' other
creditors.

                   Chapter 11 Restructuring

The Chapter 11 petitions were filed to effectuate certain
transactions contemplated by a Plan Support and Restructuring
Agreement dated April 28, 2011, among the Company, the Thermo No.
1 project secured creditors and certain holders of the Company's
unsecured 8% Convertible Senior Notes Due 2013. Under the terms of
the Plan Support Agreement, the Company will restructure
substantially all of its liabilities, including over $90 million
of secured and unsecured debt and over $5 million in trade
obligations and other claims, and will receive an infusion of new
capital to ensure that the Company will be in a position to
continue its operations in the ordinary course and execute its
business plan.

"T[he bankruptcy filing] will provide long-term relief from our
debilitating legacy debt and allow us to pursue development of
innovative geothermal and other renewable energy solutions,"
Goodman said in the April 29 statement.

Bloomberg News notes that Raser said in July that it was
considering selling an equity stake in the project to finance
installation of larger, more efficient turbines, after it failed
to perform up to expectations.  Thermo currently uses 250-kilowatt
Pratt & Whitney PureCycle technology, instead of multimegawatt
turbines that geothermal plants traditionally use.

Nick Goodman, Chairman & CEO of the Company, said, "Throughout the
reorganization process, we will be conducting 'business as usual'
and have taken every step possible to ensure that the Chapter 11
filings will not adversely affect our day-to-day operations or the
delivery of power from our Thermo No. 1 plant.  These steps
include obtaining a committed $8.75 million debtor-in-possession
financing facility from two of our bondholders."  He added,
"Reorganizing and recapitalizing the Company is a critical step in
positioning the Company to obtain the capital we need to repower
our Thermo No. 1 project, develop our resource portfolio and take
advantage of growth opportunities in the geothermal energy market.
Today's action will provide long-term relief from our debilitating
legacy debt and allow us to pursue development of innovative
geothermal and other renewable energy solutions.  We are
optimistic that the strong support we have received from our
creditors will facilitate an accelerated pace for our
reorganization and our exit from bankruptcy."

The Plan Support Agreement contemplates resolution of
substantially all existing secured and unsecured debt of the
Company and $8.75 million of new debtor-in-possession financing to
fund the Company's working capital needs during the pendency of
the Chapter 11 process and elimination of all equity interests,
including common stock, options, and warrants.

Specifically, the terms embodied in the Plan Support Agreement
contemplate that Linden Advisors, LP and Tenor Capital Management
Company, LP -- which in the aggregate hold approximately half of
the face amount of the Convertible Notes, as "sponsors" -- will
act as the "stalking horse" bidder with respect to an auction for
the equity of reorganized Raser.  Specifically, the Plan Support
Agreement includes these terms and transactions:

    * The Sponsors will provide the DIP Facility to the Debtors in
      the aggregate amount of $8.75 that will be used, among other
      things, to fund the costs associated with the chapter 11
      proceedings, cover the Debtors' working capital needs, make
      certain payments to creditors upon confirmation of the plan,
      and fund the Thermo Lenders Payment;

    * Following final approval of the DIP Facility, the payment of
      $6.0 million to the Thermo Lenders to reduce the Debtors'
      obligations under the Thermo Financing Agreements;

    * Following the Thermo Lenders Payment, the Thermo Lenders
      will consent to the priming of their liens on the Thermo
      Collateral by the liens granted to the Sponsors under the
      DIP Facility;

    * The Debtors will conduct an auction for 100% of the equity
      of reorganized Raser following Court approval of certain
      auction procedures, including the approval of the Sponsors'
      "stalking horse" bid;

    * The Sponsors' "stalking horse" bid provides that upon
      confirmation of the Plan, the Sponsors will purchase the
      Reorganized Raser Equity on the Effective Date in exchange
      for the aggregate purchase price of $19,768,181, payable as
      follows: (i) crediting of the outstanding balance of the DIP
      Facility, including all fees and interest paid in kind
      pursuant to the terms thereof, (ii) crediting of the
      outstanding balance of the Bridge Facility, (iii) the waiver
      of the remaining claims of the Thermo Lenders, and (iv) Cash
      on in the amount of $2.5 million, subject to a reduction in
      an amount equal to any unused Commitment under the DIP
      Facility;

    * In addition to the Purchase Price, upon the effective date
      of the Plan and provided that the Sponsors are the
      "successful bidder" at the auction for the Reorganized Raser
      Equity, the Sponsors shall make available to the Debtors a
      $3.0 million working capital facility; and

    * Upon the effective date of the Plan, and provided that the
      Sponsors are the "successful bidder" at the auction for the
      Reorganized Raser Equity, the Thermo Lenders will receive
      releases from the Sponsors and the Debtors' estates in
      exchange for a waiver of any remaining claims they may hold
      against the Thermo Project Entity.


RASER TECHNOLOGIES: Case Summary & 30 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Raser Technologies, Inc.
        aka Wasatch Web Advisors, Inc.
        5152 North Edgewood Drive
        Provo, UT 84604

Bankruptcy Case No.: 11-11315

Affiliates that sought Chapter 11 protection:

  Debtor                                    Case No.
  ------                                    --------
Raser Technologies Operating Company, Inc.  11-11319
Raser Power Systems, LLC                    11-11322
RT Patent Company, Inc.                     11-11323
Pacific Renewable Power, LLC                11-11327
Western Renewable Power, LLC                11-11328
Intermountain Renewable Power, LLC          11-11330
Los Lobos Renewable Power, LLC              11-11331
Columbia Renewable Power, LLC               11-11333
Truckee Geothermal No. 1 SV-01, LLC         11-11334
Truckee Geothermal No. 2 SV-04, LLC         11-11337
Trail Canyon Geothermal No. 1 SV-02, LLC    11-11338
Thermo No. 1 BE-01, LLC                     11-11339
Devils Canyon Geothermal No. 1 SV-03, LLC   11-11341
Thermo No. 2 BE-02, LLC                     11-11343
Thermo No. 3 BE-03, LLC                     11-11344
Cricket Geothermal No. 1 MI-01, LLC         11-11347
Harmony Geothermal No. 1 IR-01, LLC         11-11348
Lightning Dock Geothermal HI-01, LLC        11-11349
Klamath Geothermal No. 1 KL-01, LLC         11-11350

Chapter 11 Petition Date: April 29, 2011

Court: U.S. Bankruptcy Court
       District of Delaware (Delaware)

Judge: Kevin J. Carey

Debtors'
Counsel:          Peter S. Partee, Sr., Esq.
                  Richard P. Norton, Esq.
                  HUNTON & WILLIAMS LLP
                  200 Park Avenue, 53rd Floor
                  New York, NY 10166
                  Tel: (212) 309-1000
                  Fax: (212) 309-1100

                       - and -

                  Michael G. Wilson, Esq.
                  Henry P. Long, III, Esq.
                  HUNTON & WILLIAMS LLP
                  Riverfront Plaza, East Tower
                  951 East Byrd St.
                  Richmond, VA 23219
                  Tel: (804) 788-8200
                  Fax: (804) 788-8218

Debtors'
Local
Counsel:          GianClaudio Finizio, Esq.
                  Neil B. Glassman, Esq.
                  BAYARD, P.A.
                  222 Delaware Avenue, Suite 900
                  Wilmington, DE 19801
                  Tel: (302) 655-5000
                  Fax: (302) 658-6395
                  E-mail: gfinizio@bayardlaw.com
                          bankserve@bayardlaw.com

Debtors'
Corporate
Counsel:          SICHENZIA ROSS FRIEDMAN FERENCE LLP

Debtors'
Financial
Advisors:         CANACCORD GENUITY

Debtors'
Claims Agent:     AMERICAN LEGAL CLAIM SERVICES, LLC

Total Assets: $41.8 million as of Dec. 31, 2010

Total Debts: $107.8 million as of Dec. 31, 2010

The petitions were signed by Nicholas Goodman, chief executive
officer and chairman of the board of directors.

List of 30 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Merrill Lynch                      Unsecured           $22,646,576
1 Bryant Park, 26th Floor          Promissory Note
New York, NY 10036

LindEn Advisor LP                  Unsecured           $21,372,000
590 Madison Avenue, 15th Floor     Convertible Note
New York, NY 10022

Lazard Asset Management            Unsecured            $5,749,307
30 Rockefeller Plaza, 57th Floor   Convertible Note
New York, NY 10112

Pratt & Whitney                    Equipment Payment    $4,922,201
400 Main Street, M//S 191-13       Holdback
East Hartford, CT 06108

Tenor Capital Management Co        Unsecured            $4,660,000
1180 Avenue of the Americas,       Convertible Note
Suite 1940
New York, NY 10036

Evergreen Clean Energy, LLC        Unsecured            $2,412,352
4626 North 300 West, Suite 365     Promissory Note
Provo, UT 84604

Beaver County Treasurer            Property Tax         $1,076,524
P.O. Box 432
Beaver, UT 84713

Utah State Tax Commission          Use Tax                $588,849
210 North 1950 West
Sal Lake City, UT 84124

Bombay Investments                 Unsecured              $436,096
4061 Powers Circle
Salt Lake City, UT 84124

Evolution Markets                  Consulting             $421,081
P.O. Box 10129
Uniondale, NY 11555

HDR/Cummings & Barnard, Inc.       Consulting             $212,204

Stoel Rives                        Legal Services         $159,369

Rocky Mountain Power               Electricity Provider   $133,304

Bonneville Power Administration    Wheeling               $127,143

Nick Goodman                       Employee                $97,694

Department of Interior - MMS       Leases                  $84,075

Hamilton Environmental, LLC        Consultant              $58,701

John Perry                         Employee                $58,199

Airgas Refrigerants                Refrigerant Supplier    $52,875

R.R. Donnelley Receivables, Inc.   Financial Printer       $51,936
                                   and Filer

NYSE Market, Inc.                  Stock Listing           $47,000

Interlink Management Corp.         Consulting              $45,000

Quantec Geoscience                 Consulting              $43,175

Earth Touch, Inc.                  Consulting              $39,028

Gardner Brothers Drilling, Inc.    Pump Service and        $33,233
                                   Equipment Provider

Edward Kerr                        Consulting              $31,885

Geo Hills Associates               Consulting              $31,350

SWCA Environmental Consultants     Consulting              $27,241

Reynold Roeder                     Board of Director Fees  $24,000

Aristeia Capital                   Unsecured                    --
                                   Convertible Note


RDK TRUCK: Court Approves Renaissance Consulting as Consultant
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida
authorized RDK Truck Sales and Services Inc. and RDK Municipal
Truck Center Inc. to employ Renaissance Consulting & Development
LLC as their financial adviser and consultant.

The firm is expected to:

   a) evaluate the Debtors' business and assisting Debtors in
      the development of a strategy/plan with regard to their
      businesses;

   b) perform a financial analysis for each development plan;

   c) assist the Debtors in dealings and negotiations with
      lenders, landlords, lessors and creditors;

   d) assist the Debtors in securing debtor in possession
      financing, as may be necessary, and meeting the custodial
      and reporting requirements of the lenders; and

   e) assist the Debtors in managing and complying with the
      requirements imposed by the Bankruptcy Code and the
      Bankruptcy Court.

Kevin E. Riggs, member of the firm will charge $100 per hour.

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

                          About RDK Truck

Tampa, Florida-based RDK Truck Sales & Service, Inc., specializes
in both the sale and rental of new and reconditioned waste
management vehicles.  It filed for Chapter 11 bankruptcy
protection (Bankr. M.D. Fla. Case No. 11-01877) on Feb. 1, 2011.
Alberto F Gomez, Jr., Esq., at Morse & Gomez, PA, serves as the
Debtor's bankruptcy counsel.  The Debtor estimated its assets and
debts at $10 million to $50 million.

An affiliate, RDK Municipal Truck Center, Inc., also filed for
Chapter 11 protection (Bankr. M.D. Fla. Case No. 11-01878) on
Feb. 1, 2011.  RDK Municipal estimated assets and debts of $1
million to $10 million as of the Chapter 11 filing.


RESTIVO AUTO: Case Summary & 17 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Restivo Auto Body, Inc.
        dba Restivo Auto Body & Towing (Inc.)
        5296 Enterprise St.
        Sykesville, MD 21784-9328

Bankruptcy Case No.: 11-18718

Chapter 11 Petition Date: April 27, 2011

Court: United States Bankruptcy Court
       District of Maryland (Baltimore)

Judge: Robert A. Gordon

Debtor's Counsel: Edward M. Miller, Esq.
                  MILLER AND MILLER, LLP
                  202 E. Main St., 1st Floor
                  Westminster, MD 21157
                  Tel: (410) 751-5444
                  Fax: (410) 751-6633
                  E-mail: mmllplawyers@verizon.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 17 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/mdb11-18718.pdf

The petition was signed by Gregory J. Restivo, president.


RIO RANCHO: Court Approves Kim & Associates as Accountant
---------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
authorized Rio Rancho Super Mall LLC to employ Kim & Associates,
Inc. as its accountant.

The firm will:

   a) prepare state and financial income tax returns for the
      calendar years ending every December 31st;

   b) assist the Debtor with the preparation of month operating
      reports;

   c) prepare financial statements and forecasts when requested;
      and

   d) perform any other accounting services which may be
      appropriate during the remainder of the Debtor's bankruptcy
      case.

The Debtor agreed to pay the firm on an hourly basis not to exceed
$1,000 per hour.

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

Moreno Valley, California-based Rio Rancho Supermall, LLC, owns,
manages and operates a commercial property known as the Rio Rancho
Super Mall that is utilized as an indoor swap-meet and retail
mall.  It filed for Chapter 11 bankruptcy protection (Bankr. C.D.
Calif. Case No. 11-16835) on March 2, 2011.  Thomas E. Kent,
Esq., who has an office in Los Angeles, California, serves as the
Debtor's bankruptcy counsel.  The Debtor disclosed $7,691,584 in
assets and $12,253,866 in debts.


RIO RANCHO: Court Approves Lee & Kent as Bankruptcy Counsel
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
authorized Rio Rancho Super Mall, LLC, to employ the Law Offices
of Lee & Kent as bankruptcy counsel.

Lee & Kent will, among other things:

     a. represent the Debtor in any proceeding or hearing in the
        Court involving its estate unless the Debtor is
        represented in the proceeding or hearing by other special
        counsel;

     b. examine witnesses, claimants or adverse parties and
        represent the Debtor in any adversary proceeding, except
        to the extent that any adversary proceeding is in an area
        outside of Lee & Kent's expertise or which is beyond Lee &
        Kent's staffing capabilities;

     c. prepare and assist the Debtor in the preparation of
        reports, in the preparation of reports, applications,
        pleadings and orders; and

     d. assist the Debtor in the negotiation, formulation,
        preparation and confirmation of a plan of reorganization
        and the preparation and approval of a disclosure statement
        in respect to the plan.

Lee & Kent will be paid based on the hourly rates of its
professionals:

        Thomas E. Kent                     $450
        Justin M. Lee                      $400
        William K. Hong                    $200
        Kate Shin, Paralegal                $80

To the best of the Debtor's knowledge, Lee & Kent is a
"disinterested person" within the meaning of Section 101(14) of
the Bankruptcy Code.

Moreno Valley, California-based Rio Rancho Supermall, LLC, owns,
manages and operates a commercial property known as the Rio Rancho
Super Mall that is utilized as an indoor swap-meet and retail
mall.  It filed for Chapter 11 bankruptcy protection (Bankr. C.D.
Calif. Case No. 11-16835) on March 2, 2011.  In its schedules, the
Debtor disclosed $7,691,584 in total assets and $12,253,866 in
total debts as of the Petition Date.


RIVERVIEW GLOUCESTER: Files for Chapter 11 Bankruptcy Protection
----------------------------------------------------------------
Riverview Gloucester LLC filed for protection under Chapter 11 of
the Bankruptcy Code, estimating assets of less than $500,000 and
liabilities between $1 million and $10 million.

Eric Convey at Boston Business Journal reports that the biggest
creditors listed were Enterprise Bank and Trust Co. of Andover,
Mass., owed about $1.5 million; First Sealord Surety of Villanova,
Pa., owed about $1 million; and a Seabrook, N.H., realty trust
owed about $100,000.

Riverview is represented in the bankruptcy proceedings by attorney
Edmund L. Myers of Mendon, Massaschusetts.

Riverview Gloucester LLC is company that was incorporated to
develop a property in North Andover, Massachusetts.


RIVERVIEW GLOUCESTER: Case Summary & 6 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Riverview Gloucester LLC
        59 Riverview Road
        Gloucester, MA 01930

Bankruptcy Case No.: 11-13800

Chapter 11 Petition Date: April 26, 2011

Court: United States Bankruptcy Court
       District of Massachusetts (Boston)

Judge: Joan N. Feeney

Debtor's Counsel: Edmund L. Myers, Esq.
                  31 Hastings Street
                  P.O. Box 163
                  Mendon, MA 01756
                  Tel: (508) 478-2204
                  E-mail: elm.esq@comcast.net

Estimated Assets: $0 to $50,000

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

A list of the Company's six largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/mab11-13800.pdf

The petition was signed by Bruce Ross, manager.


ROBIN HOOD: Case Summary & 19 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Robin Hood LLC
        1801 West Broadway Place
        Hobbs, NM 88240

Bankruptcy Case No.: 11-11912

Chapter 11 Petition Date: April 27, 2011

Court: United States Bankruptcy Court
       New Mexico (Albuquerque)

Debtor's Counsel: Patricia A Bradley, Esq.
                  LAW OFFICE OF GEORGE "DAVE" GIDDENS, P.C
                  10400 Academy NE, Suite 350
                  Albuquerque, NM 87111
                  Tel: (505) 271-1053
                  E-mail: pbradley@giddenslaw.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 19 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/nmb11-11912.pdf

The petition was signed by Quinton Welborn, managing member.


SCIENTIFIC GAMES: Moody's Says Barcrest Gain No Impact on Ba3 CFR
-----------------------------------------------------------------
Moody's stated that Scientific Games Corporation's planned
acquisition of Barcrest Group Limited should complement the
company's existing business in Europe and there is no impact on
the company's Ba3 Corporate Family Rating.

The principal methodology used in rating Scientific Games
Corporation was the Global Business & Consumer Service Industry
rating methodology published in August 2007. Other methodologies
and factors that may have been considered in the process of rating
this issuer can also be found on Moody's Web site.  Scientific
Games Corporation provides services, systems, and products to the
lottery industry, the wide area gaming industry, and the pari-
mutuel wagering industry. The company generates over $900 million
of annual revenues.


SEITEL INC: S&P Upgrades CCR to 'B-' Due to Better Liquidity
------------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on Houston-based Seitel Inc. to 'B-' from 'CCC+'. The
outlook is stable.

"At the same time, we raised the issue-level rating on the
company's senior unsecured notes to 'B-' (the same as the
corporate credit rating) from 'CCC+', and the recovery rating
remains unchanged at '4', which indicates our expectation of
average recovery (30% to 50%) for lenders in the event of a
default. As of Dec. 31, 2010, Seitel had roughly $425 million in
total adjusted debt including Standard & Poor's adjustments for
operating leases and accrued interest," S&P related.

"The upgrade on Seitel reflects the continued recovery of the
North American oilfield service market, along with the company's
stronger liquidity position and improved debt leverage measures,"
said Standard & Poor's credit analyst Patrick Jeffrey. Seitel's
cash EBITDA has increased from just over $24 million in the second
half of 2009 to more than $75 million in the second half of
2010, largely due to the increasing North American rig count
(primarily oil rigs). The improved financial performance has
enhanced the company's liquidity position such that cash balance
as of Dec. 31, 2010, was $90 million. Other credit measures have
also strengthened; based on 2010 cash EBITDA, adjusted debt to
cash EBITDA is about 3.5x and interest coverage is nearly 3x.

The outlook is stable. Although Seitel has recently demonstrated
improved financial performance, its credit profile still reflects
the company's high debt levels, increased capex plans, and
volatile industry conditions. "We would consider a positive rating
action if, contrary to our current expectations, financial
performance improves from current levels and the company is able
to reduce debt materially. However we remain concerned about the
possibility of a decline in natural gas drilling activity in late
2011 that could quickly lead to much lower cash flows at Seitel,
straining current liquidity levels. If this occurs, we could
consider a downgrade," said S&P.


SHEA HOMES: Corp. Credit & $750MM Notes Get S&P's 'B' Ratings
-------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' corporate
credit rating to Shea Homes L.P. (Shea) and its subsidiary, Shea
Homes Funding Corp.

"At the same time, we assigned our 'B' issue-level rating to the
company's proposed $750 million senior secured notes due May 2019.
We also assigned a '4' recovery rating to the senior secured
notes, indicating our expectation for an average (30%-50%)
recovery in the event of a payment default. Our outlook on the
company is positive," S&P stated.

"Our ratings on Shea reflect the company's aggressive financial
profile, marked by low interest coverage metrics, high debt
leverage, and modest cash reserves compared with other builders,"
said credit analyst Matthew Lynam.

"We consider Shea's business profile to be weak, given low sales
and limited pricing power that contribute to ongoing impairment
charges and very weak profitability. To a lesser extent, we also
view the privately held company's limited transparency and lack of
independent board oversight as a negative credit factor."

"The positive outlook on Shea reflects our view that an upgrade is
possible within the next 12 months if the company demonstrates
positive free cash flow, while maintaining minimum liquidity of
$200 million, and if sales absorption levels remain flat or
improve over the coming year.  Although less likely in our view,
we would downgrade the company if liquidity drops below $100
million, possibly from aggressive land acquisitions," S&P stated.


SHENGDATECH INC: Gets NASDAQ Delisting Notice; Acting CFO Resigns
-----------------------------------------------------------------
ShengdaTech, Inc. received a letter on April 20, 2011 from the
Listing Qualifications Department of The NASDAQ Stock Market LLC
stating that based on the review of public documents and
information provided by the Company, Nasdaq determined the
continued listing of the Company's securities on Nasdaq is no
longer warranted.  The Nasdaq letter cited the following criteria
as the reasons for the determination:

public interest concerns under Nasdaq Listing Rule 5101 raised by
the serious accounting and operational issues uncovered by KPMG,
the Company's independent registered public accounting firm; the
deliberate and ongoing efforts of the Company's management to
obstruct an internal investigation into these matters; the
Company's failure to promptly disclose material information
related to that investigation; and the Company's violation of the
rules setting forth the responsibilities and authority of the
Audit Committee;

the Company's failure to make prompt public disclosure of material
developments relating to the investigation, as required by Nasdaq
Listing Rule 5250(b)(1) and IM-5250-1;

the Company's violations of Nasdaq Listing Rule 5605(c)(3) and IM-
5605 as well as the statutory responsibilities and authority of
the Audit Committee set forth in Section 10A(m)(2) of the
Securities and Exchange Act of 1934 caused by the obstructive
conduct of the Company's executive management and failure to
provide for payment of the advisors engaged to assist with the
internal investigation; and

the Company's failures to timely file with the Securities and
Exchange Commission its Annual Report on Form 10-K for the period
ended December 31, 2010, as required by Nasdaq Listing Rule
5250(c)(1), and to present a definitive plan that demonstrates its
ability to regain compliance within the time period permitted
under Nasdaq's Listing Rules.

The Company requested an appeal of this determination by
submitting a hearing request to the Hearings Department of Nasdaq
and a hearing has been set for May 26, 2011.  The delisting action
is stayed pending the outcome of the hearing.

As previously disclosed on March 15, 2011, the Company appointed a
special committee of the board of directors, consisting of the
Company's three independent directors, and granted such special
committee full authority to investigate potentially serious
discrepancies and unexplained issues relating to the Company and
its subsidiaries' financial records identified by KPMG, the
Company's independent registered public accounting firm, in the
course of their audit of the consolidated financial statements for
the fiscal year ended December 31, 2010.  To assist with the
internal investigation, the special committee engaged O'Melveny
and Meyers, LLP which, in turn, engaged Price Waterhouse Coopers
LLP to provide forensic accounting support.  Due to the pendency
of the internal investigation, the Company has been unable to file
its Annual Report on Form 10-K for the year ended December 31,
2010 in a timely manner.

Additionally, on March 26, 2011, in connection with the internal
investigation being conducted by the special committee, the
Company's board of directors passed a resolution adopting a cash
control and validation plan, which required the transfer of
control over the Company's cash assets by consolidating cash into
accounts over which only the chairman of the audit committee would
have authority.  The cash control and validation plan is a
critical component of the internal investigation being conducted
by the special committee, the scope of which includes assessing
the circumstances surrounding the Company's relationships with
vendors, customers, banks and potential related parties.  Despite
April 7 (request to comply) and April 22, 2011 (demand to comply)
letters sent by the special committee, to management, this plan
has not yet been executed by the Company.

On April 19, 2011, the board of directors of the Company received
from KPMG, a Section 10A letter which indicated that in the view
of KPMG, senior management of the Company has not taken, and the
board of directors has not caused senior management to take,
timely and appropriate remedial actions with respect to
discrepancies and/or issues relating to the Company's financial
records that were identified during the course of the audit for
the year ended December 31, 2010, and that this failure to take
remedial action is expected to warrant KPMG's resignation from the
audit engagement.  On April 20, 2011, as required under the
Securities Exchange Act of 1934, the Company notified the SEC of
receipt of the KPMG letter.

Separately, the Company is also announcing the resignation of Ms.
Anhui Guo, the Company's Chief Operating Officer, Acting Chief
Financial Officer and Director as of April 21, 2011. The Company
is in the process of evaluating and identifying a replacement.

Additional Disclosures:

On April 21, 2011, Ms. Anhui Guo, the Company's Chief Operating
Officer, Acting Chief Financial Officer and Director, resigned
from her positions at the Company with immediate effect.

                       About ShengdaTech, Inc.

ShengdaTech is engaged in the business of manufacturing,
marketing, and selling nano-precipitated calcium carbonate
products.  The Company converts limestone into NPCC using its
proprietary and patent-protected technology.  NPCC products are
increasingly used in tires, paper, paints, building materials, and
other chemical products.  In addition to its broad customer base
in China, the Company currently exports to Singapore, Thailand,
South Korea, Malaysia, India, Latvia and Italy.


SOUTHSIDE ASSEMBLY: Case Summary & 3 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Southside Assembly of God, Inc.
        dba CrossPoint Assembly of God
        dba CrossPoint Assembly
        dba CrossPoint Christian Academy
        3315 Anderson Road
        Greenville, SC 29611

Bankruptcy Case No.: 11-02755

Chapter 11 Petition Date: April 27, 2011

Court: United States Bankruptcy Court
       District of South Carolina (Spartanburg)

Judge: Helen E. Burris

Debtor's Counsel: Robert H. Cooper, Esq.
                  THE COOPER LAW FIRM
                  3523 Pelham Road, Suite B
                  Greenville, SC 29615
                  Tel: (864) 271-9911
                  E-mail: bknotice@thecooperlawfirm.com

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

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

A list of the Company's three largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/scb11-02755.pdf

The petition was signed by Randall G. Atkins, president.


SPORTS & SCORES: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Sports & Scores Properties, LLC
        2223 County Road 220 #204
        Middleburg, FL 32068

Bankruptcy Case No.: 11-03024

Chapter 11 Petition Date: April 27, 2011

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

Judge: Paul M. Glenn

Debtor's Counsel: Brett A Mearkle, Esq.
                  LAW OFFICE OF BRETT A. MEARKLE
                  8777 San Jose Blvd., Suite 801
                  Jacksonville, FL 32217
                  Tel: (904) 352-1342
                  Fax: (904) 352-1814
                  E-mail: bmearkle@mearklelaw.com

Scheduled Assets: $1,699,486

Scheduled Debts: $1,611,432

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

The petition was signed by Srinivas Dasari, managing member.


STAR WEST: S&P Rates $650MM Term Loan and $100MM Revolver 'B+'
--------------------------------------------------------------
Standard & Poor's Rating Services assigned its preliminary 'B+'
rating to Star West Generation LLC's $650 million senior secured
term loan and $100 million senior secured revolving credit
facility.

"The preliminary recovery rating for both is '3', indicating our
expectation for meaningful (50%-70%) recovery of principal in a
default scenario. The preliminary ratings are subject to receipt
and review of final documentation. The outlook on the ratings is
stable," S&P noted.

Star West Generation LLC is owned by Star West Generation Holdings
LLC. In turn, a subsidiary of HighStar Capital IV and its
affiliates indirectly own Star West Generation Holdings LLC.
Neither Star West Generation Holdings nor its parent can issue
debt. The proceeds of the term loan will fund a portion of the
acquisition costs of two electricity generating plants from LS
Power and its affiliates totaling 1147 megawatts (MW). The two
assets are Arlington Valley LLC, a 577-MW combined cycle plant,
and Griffith Energy LLC, a 570-MW combined cycle plant. Both are
in Arizona. The assets are relatively new, with commercial
operation dates of June 2002 and January 2002.

"The contractual framework of the project provides the primary
credit support for this transaction," said Standard & Poor's
credit analyst Theodore Dewitt. The assets have summer-only
tolling agreements with a low-investment-grade utility through
2019 and with Nevada Power Co. (BB+/Stable/--) through 2017. These
tolls provide approximately 84% of annual gross margins under our
base case through 2018. Also, the assets have long-term service
agreements with General Electric (AA+/Stable/A-1+) for
maintenance. Star West will sell generation outside of the tolling
period on a merchant basis. Furthermore, all of Griffith's 2018
revenues will be generated from the merchant markets, as their
tolling agreement with Nevada Power matures in September of 2017.


TBS INTERNATIONAL: Sets May 7 as New Record Date of Offering
------------------------------------------------------------
TBS International plc announced that the revised record date for
its rights offering will be Saturday, May 7, 2011.  The Company
has filed a registration statement with the Securities and
Exchange Commission under which it expects to conduct an offering
of subscription rights that will enable all holders of the
Company's ordinary shares at the close of business on the record
date to purchase Series A preference shares of the Company.  The
Company expects that the initial conversion rate at which Series A
preference shares will be convertible into Class A ordinary shares
will be determined on the record date with reference to the recent
trading prices of the Class A ordinary shares at that time.

A registration statement relating to the subscription rights and
the Series A preference shares of the Company has been filed with
the Securities and Exchange Commission but has not yet become
effective.  These securities may not be sold nor may offers to buy
be accepted prior to the time the registration statement becomes
effective.  A written prospectus for the subscription rights
offering may be obtained by contacting Phoenix Advisory Partners,
the information agent for the rights offering, toll-free at (800)
576-4314.

                   About TBS International plc

Dublin, Ireland-based TBS International plc (NASDAQ: TBSI)
-- http://www.tbsship.com/-- provides worldwide shipping
solutions to a diverse client base of industrial shippers through
its Five Star Service: ocean transportation, projects, operations,
port services and strategic planning.  The TBS shipping network
operates liner, parcel and dry bulk services, supported by a fleet
of multipurpose tweendeckers and handysize/handymax bulk carriers,
including specialized heavy-lift vessels and newbuild tonnage.
TBS has developed its franchise around key trade routes between
Latin America and China, Japan and South Korea, as well as select
ports in North America, Africa, the Caribbean and the Middle East.

The Company reported a net loss of US$247.76 million on US$411.83
million of total revenue for the year ended Dec. 31, 2010,
compared with a net loss of US$67.04 million on US$302.51 million
of total revenue during the prior year.

The Company's balance sheet at Dec. 31, 2010, showed US$686.32
million in total assets, US$389.45 million in total liabilities
and US$296.87 million in total stockholders' equity.

PricewaterhouseCoopers LLP expressed substantial doubt about the
Company's ability to continue as a going concern.  PwC believes
that the Company will not be in compliance with the financial
covenants under its credit facilities during 2011, which under the
agreements would make the debt callable.  According to PwC, this
has created uncertainty regarding the Company's ability to fulfill
its financial commitments as they become due.

As reported in the TCR on Feb. 8, 2011, TBS International on
Jan. 31, 2011, announced that it had entered into amendments to
its credit facilities with all of its lenders, including AIG
Commercial Equipment, Commerzbank AG, Berenberg Bank and Credit
Suisse and syndicates led by Bank of America, N.A., The Royal Bank
of Scotland plc and DVB Group Merchant Bank (the "Credit
Facilities").  The amendments restructure the Company's debt
obligations by revising the principal repayment schedules under
the Credit Facilities, waiving any existing defaults, revising the
financial covenants, including covenants related to the Company's
consolidated leverage ratio, consolidated interest coverage ratio
and minimum cash balance, and modifying other terms of the Credit
Facilities.

The Company currently expects to be in compliance with all
financial covenants and other terms of the amended Credit
Facilities through maturity.

As a condition to the restructuring of the Company's credit
facilities, three significant shareholders who also are key
members of TBS' management agreed on Jan. 25, 2011, to provide up
to US$10 million of new equity in the form of Series B Preference
Shares and deposited funds in an escrow account to facilitate
satisfaction of this obligation.  In partial satisfaction of this
obligation, on Jan. 28, 2011, these significant shareholders
purchased an aggregate of 30,000 of the Company's Series B
Preference Shares at US$100 per share directly from TBS in a
private placement.


TERRESTAR NETWORKS: Bid Procedures Hearing on Wednesday
-------------------------------------------------------
Marie Beaudette, writing for Dow Jones' Daily Bankruptcy Review,
reports that TerreStar Networks Inc. will return to the Bankruptcy
Court Wednesday to seek approval to put its assets on the auction
block.

According to the report, TerreStar hasn't identified a lead bidder
that would open the auction, which it wants to hold June 15.
TerreStar wants the court to review the auction results June 20.

DBR notes TerreStar has said the proposed auction is "the most
value-maximizing alternative" after it failed to reach a deal with
its creditors on a restructuring plan.

            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's case is 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
sought 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 $100,000,001 to $500,000,000 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.


TRENTON LAND: Court Extends Plan Filing Deadline to Aug. 31
-----------------------------------------------------------
The Hon. Thomas J. Tucker of the U.S. Bankruptcy Court for the
Eastern District of Michigan extended the exclusive periods of
Trenton Land Holdings LLC to:

   a) file a Chapter 11 plan of reorganization until Aug. 31,
      2011, and

   b) solicit acceptances of that plan until Oct. 31, 2011.

The extension would give Trenton Land enough time to negotiate a
consensual plan with the Wayne County Treasurer and its other
creditors, said the Company's lawyer, Karin Avery, Esq., at
Silverman & Morris PLLC, in West Bloomfield, Michigan.

The Treasurer has a first priority lien on approximately 195 acres
of real estate in Trenton, Michigan, which is owned by Trenton
Land.  The company plans to market the real property to interested
buyers given its multiple potential uses.

Ms. Avery said the proposed extension, if approved by the
Bankruptcy Court, would also enable the company to "determine and
implement the best means to liquidate the real property."

Trenton, Michigan-based Trenton Land Holdings, LLC, filed for
Chapter 11 bankruptcy protection (Bankr. E.D. Mich. Case No. 10-
60990) on June 29, 2010.  Karin F. Avery, Esq., at Silverman &
Morris, P.L.L.C., assists the Debtor in its restructuring effort.
The Company disclosed $16,726,075 in assets and $65,925,596 in
liabilities.


TXU CORP: Bank Debt Trades at 20% Off in Secondary Market
---------------------------------------------------------
Participations in a syndicated loan under which TXU Corp., now
known as Energy Future Holdings Corp., is a borrower traded in the
secondary market at 79.85 cents-on-the-dollar during the week
ended Friday, April 29, 2011, a drop of 0.57 percentage points
from the previous week according to data compiled by Loan Pricing
Corp. and reported in The Wall Street Journal.  The Company pays
450 basis points above LIBOR to borrow under the facility.  The
bank loan matures on October 10, 2014, and carries Moody's B2
rating and Standard & Poor's CCC rating.  The loan is one of the
biggest gainers and losers among 193 widely quoted syndicated
loans with five or more bids in secondary trading for the week
ended Friday.

                        About Energy Future

Energy Future Holdings Corp., formerly known as TXU Corp., is a
privately held diversified energy holding company with a portfolio
of competitive and regulated energy businesses in Texas.  Oncor,
an 80%-owned entity within the EFH group, is the largest regulated
transmission and distribution utility in Texas.  The Company
delivers electricity to roughly three million delivery points in
and around Dallas-Fort Worth.

EFH Corp. was created in October 2007 in a $45 billion leveraged
buyout of Texas power company TXU in a deal led by private-equity
companies Kohlberg Kravis Roberts & Co. and TPG Inc.

The Company's consolidated balance sheets at Dec. 31, 2010, showed
$46.388 billion in total assets, $52.299 billion in total
liabilities, and a stockholders' deficit of $5.911 billion.

                            *     *     *

In April 2011, Moody's Investors Service affirmed the 'Caa2'
Corporate Family Rating, 'Caa3' Probability of Default Rating and
SGL-4 Speculative Grade Liquidity Ratings of EFH.  Outlook is
stable.  EFH's Caa2 CFR and Caa3 PDR reflect a financially
distressed company with limited financial flexibility; its capital
structure appears to be untenable, calling into question the
sustainability of the business model; and there is no expectation
for any meaningful debt reduction over the next few years, beyond
scheduled amortizations.

At the end of February 2011, Fitch Ratings it does not expect to
take any immediate rating action on EFH's Texas Competitive
Electric Holdings Company LLC or their affiliates based on recent
default allegations from lender Aurelius.  EFH carries a 'CCC'
corporate rating, with negative outlook, from Fitch.


VALMONT INDUSTRIES: Moody's Upgrades Debt Rating to Baa3 From Ba1
-----------------------------------------------------------------
Moody's Investors Service upgraded the senior unsecured debt
rating of Valmont Industries, Inc. to Baa3 from Ba1. Moody's also
raised the rating on Valmont's subordinated notes to Ba1 from Ba2.
The ratings outlook is stable.

RATINGS RATIONALE

The upgrade to investment grade reflects Valmont's prudent
financial policies, diversified revenue base and the positive
industry fundamentals underlying the company's key end markets.
During the macroeconomic downturn, Valmont maintained
comparatively solid consolidated operating results and credit
metrics, partially a reflection of the discrete business cycles
and demand drivers within its core segments. Moody's continues to
view positively the long-term demand fundamentals for global
infrastructure and irrigation investments, driven by population
growth and the scarcity of fresh water worldwide. Valmont appears
poised to capitalize on future growth with its geographic scale
and market share.

Despite a fairly large debt-funded acquisition in May 2010,
Valmont ended the year with financial leverage (total debt to
EBITDA, including Moody's standard adjustments) of 2.5 times and
is well positioned within the rating category relative to its
cross-industry Baa3 peers. Moody's expects revenue growth and
margin improvement in the irrigation and utility segments to
reduce financial leverage modestly in 2011. At March 26, 2011,
Valmont reported a cash balance of $358 million, the bulk of which
is held overseas. Liquidity is further supported by a mostly
undrawn $280 million senior unsecured revolver and Moody's
expectations that cash flow generation will remain strong.
The stable outlook reflects Moody's expectation that Valmont will
maintain a leading competitive position in its core end markets.
Additionally, financial policies and liquidity are expected to be
sustained at conservative levels to provide sufficient cushion
during a downturn. Management has stated it is committed to
limiting balance sheet debt as a percentage of invested capital to
40%. The ratings or outlook could be raised over time if Valmont
continues to organically grow its revenue base, expands its
consolidated EBITA margin to above 12%, maintains a solid
liquidity profile and sustains financial leverage below 2.5 times.
The ratings or outlook could be lowered if Valmont loses market
share, makes large debt-financed acquisitions or experiences a
prolonged downturn in its end markets that lead to a significant
reduction in liquidity and sustained financial leverage above 3
times. Additionally, a change towards more aggressive financial
policies could pressure the ratings.

These ratings were upgraded:

   -- $300 million senior unsecured notes due 2020, to Baa3 from
      Ba1

   -- $50 million universal shelf maturing in 2013, to (P)Baa3
      from (P)Ba1

   -- $150 million senior subordinated notes due 2014, to Ba1 from
      Ba2

Moody's has withdrawn these ratings as they are not applicable to
investment grade companies:

   -- Corporate Family Rating, Ba1
   -- Probability of Default Rating, Ba1
   -- Speculative Grade Liquidity Rating, SGL-1
   -- All LGD assessments

The principal methodology used in rating Valmont was the Global
Manufacturing Industry Methodology, published December 2010.
Valmont Industries, Inc. is a global producer of metal and
concrete pole and tower structures, mechanized irrigation systems,
coatings, and other engineered products for highway and industrial
use. Customers and end-users include state and federal
governments, contractors, utility and telecommunications
companies, manufacturers of commercial lighting fixtures and large
farms. Headquartered in Omaha, Nebraska, the company is publicly
held (ticker: VMI) and reported revenues of approximately $2.2
billion in the 12 months ended March 26, 2011.


VIJAY TANEJA: Court Rules on Avoidance Suit v. Warehouse Lenders
----------------------------------------------------------------
H. Jason Gold, Trustee, v. Sovereign Bank, f/k/a Independence
Community Bank; and H. Jason Gold, Trustee, v. Gateway Bank, FSB,
Adv. Proc. Nos. 10-1527 and 10-1510 (Bankr. E.D. Va.), seek to
recover payments allegedly made in furtherance of a Ponzi scheme.
Mr. Gold is the Chapter 11 Trustee for Vijay K. Taneja et al.  The
defendants have filed motions to dismiss the counts grounded on
Virginia's fraudulent conveyance statute, for failure to state a
claim for relief.  Together, the challenged counts seek avoidance
and recovery of $47.8 million in payments made to the defendants
-- who provided "warehouse" funding for mortgage loans originated
by one of the debtors -- as fraudulent conveyances under Section
55-80, Code of Virginia.  That statute, however, protects "a
purchaser for valuable consideration, unless it appear that he had
notice of the fraudulent intent of his immediate grantor," and the
issue is whether the complaint must make a plausible showing that
the defendants had such notice, or whether lack of notice is
simply an affirmative defense.  In an April 26, 2011 Memorandum
Opinion, Bankruptcy Judge Stephen S. Mitchell held that notice of
the transferor's fraudulent intent is an element that must be
alleged in order to state a claim for relief.

The trustee has alleged that mortgage loans originated by debtor-
affiliate Financial Mortgage, Inc., and subsequently sold into the
secondary market, lay at the heart of a massive Ponzi scheme
orchestrated by Mr. Taneja.  In making loans, FMI relied on lines
of credit with so-called warehouse lenders like Independence
Community Bank and Gateway Bank.  The advances from the line of
credit were expected to be repaid from the proceeds of sale when
FMI sold the loan to a secondary market purchaser.  Sometimes,
however, FMI sold the same loan to several different purchasers,
using the proceeds from one of the sales to make the required
monthly payments to the other secondary market purchasers.

On other occasions, Mr. Taneja orchestrated a succession of sham
sales to straw purchasers -- each purchase being financed by a
loan that was then sold into the secondary market -- without
actually paying off earlier loans, the monthly payments of which
continued to be made from the proceeds of the later loans.  By
these and other fraudulent devices, Mr. Taneja was able to
generate large sums of money, at least a portion of which went to
finance a "Bollywood" movie.

According to the trustee, the financial house of cards could be
kept intact only so long as new loans continued to be made and
sold into the secondary market.

The action against Sovereign Bank (as successor to Independence),
filed Dec. 9, 2010, seeks avoidance and recovery under Sec. 548,
Bankruptcy Code, of $566,865 in payments made to it in the two
years prior to the filing of FMI's bankruptcy petition (Count I)
and under Sec. 544, Bankruptcy Code and Sec. 55-80, Code of
Virginia, of $43,345,244 made to it in the five years prior to the
bankruptcy filing (Count II).  Avoidance and recovery of $45,000
is separately sought under Sec. 544, Bankruptcy Code and Sec. 55-
81, Code of Virginia (Count III).

The action against Gateway, filed Dec. 7, 2010, seeks recovery
under Sec. 548, Bankruptcy Code, of $3,738,858 in payments made
within two years of the bankruptcy filing (Count I) and under Sec.
544, Bankruptcy Code and Sec. 55-80, Code of Virginia, of
$4,500,323 in payments made within five years of the bankruptcy
filing.  The "five year" payment amounts are inclusive of the "two
year" payment amounts.  As a result, $42,778,379 (or almost 99%)
of the trustee's claim against Sovereign hinges on his ability to
proceed under Sec. 55-80, Code of Virginia, while only $761,463
(or 17%) of his claim against Gateway is dependent upon the
Virginia statute.

A copy of the Court's ruling is available at http://is.gd/GKsoih
from Leagle.com.

Counsel for the Chapter 11 Trustee is:

          Christopher A. Jones, Esq.
          WHITEFORD TAYLOR & PRESTON, LLP
          3190 Fairview Park Drive, Suite 300
          Falls Church, VA 22042
          Tel: 703-280-9263
          Fax: 703-280-8942
          E-mail: cajones@wtplaw.com

Counsel for defendant Sovereign Bank is:

          Tara L. Elgie, Esq.
          HUNTON & WILLIAMS, LLP
          Riverfront Plaza, East Tower
          951 East Byrd Street
          Richmond, VA 23219
          Tel: (804) 788-8327
          E-mail: telgie@hunton.com

Counsel for Gateway Bank FSB is:

          James R. Schroll, Esq.
          BEAN, KINNEY & KORMAN
          2300 Wilson Boulevard, Suite 700
          Arlington, VA 22201
          Tel: 703-525-4000
          E-mail: jschroll@beankinney.com

Vijay K. Taneja and four companies controlled by him, including a
mortgage loan originator known as Financial Mortgage, Inc., filed
voluntary Chapter 11 petitions (Bankr. E.D. Va. Lead Case No.
08-13293) on June 9, 2008.  H. Jason Gold has been appointed as
Chapter 11 trustee in all five cases.  James P. Campbell, Esq. --
jcampbell@campbellflannery.com -- at Campbell Flannery, P.C. in
Leesburg, VA, advises the Trustee.  The Official Committee of
Unsecured Creditors is represented in the case by Lawrence E.
Rifken, Esq. -- rifkenl@gtlaw.com -- at Greenberg Traurig, LLP, in
McLean, Virginia.


VISUALANT INC: Amends Securities Purchase Agreement with Seaside
----------------------------------------------------------------
Visualant, Inc., on Dec. 23, 2010, entered into a Securities
Purchase Agreement with Seaside pursuant to which Seaside agreed
to purchase restricted shares of the Company's common stock from
time to time over a 12-month period, provided that certain
conditions are met.

On April 22, 2011, the Company entered into a Second Amendment to
the Agreement.  Under the Amended Agreement, Seaside's beneficial
ownership of the Company's common stock was increased and will not
exceed 9.99%.  Also, Seaside's Share Amount will mean the number
of Shares to be purchased at a Closing, such number to be equal to
the lesser of (a) 10% of the total number of shares of Common
Stock traded during normal hours during the 20 Trading Days
immediately preceding such Closing, as reported by Bloomberg
Financial Markets, and (b) 700,000 Shares.

The Amended Agreement will increase funding provided by Seaside.

A full-text copy of the Second Amendment to Securities and
Purchase Agreement is available for free at http://is.gd/mEB4Ww

                       About Visualant Inc.

Seattle, Wash.-based Visualant, Inc., was incorporated under the
laws of the State of Nevada on October 8, 1998.  The Company
develops low-cost, high speed, light-based security and quality
control solutions for use in homeland security, anti-
counterfeiting, forgery/fraud prevention, brand protection and
process control applications.

The Company's balance sheet at Dec. 30, 2010, showed $3.74 million
in assets, $4.14 million in current liabilities, $1.67 million in
long-term debt, stockholder's deficit of $2.12 million and non-
controlling interest of $50,230.

As reported in the Troubled Company Reporter on Jan. 4, 2011,
Madsen & Associates CPA's, Inc., Salt Lake City, expressed
substantial doubt about Visualant, Inc.'s ability to continue as a
going concern, following the Company's results for the fiscal year
ended September 30, 2010.  The independent auditors noted that the
Company will need additional working capital for its planned
activity and to service its debt.


WILLIAM LYON: S&P Puts 'CCC' Corporate Credit Rating on Watch Neg.
------------------------------------------------------------------
Standard & Poor's Ratings Services placed its 'CCC' corporate
credit rating on California-based William Lyon Homes and its 'CC'
rating on the company's unsecured notes on CreditWatch with
negative implications.

"We placed the ratings on CreditWatch because the privately held
homebuilder has not completed its fiscal year financial statements
in accordance with the terms governing its publicly traded senior
unsecured notes," said Standard & Poor's credit analyst Jim
Fielding.

Privately held William Lyon announced that it would delay filing
its fiscal year-end audited financial statements to allow it time
to complete its noncash impairment analysis. The company expects
to complete the impairment analysis, its financial statements, and
audit within the 30-day grace period provided for in the
indentures governing its public notes. "We understand that this
grace period will expire on or near May 15, 2011," S&P said.

William Lyon is a moderate-size regional homebuilder with
operations in California, Arizona, and Nevada. The company had
$283 million of publicly traded senior unsecured notes outstanding
on Sept. 30, 2010, which is the most recent data available. The
indentures governing the unsecured notes require William Lyon to
provide noteholders with quarterly and annual financial statements
within the timeframes set by the SEC. William Lyon has received
temporary waivers from these and certain other requirements from
its senior secured term loan lenders. However, it is not clear
that the company has received similar waivers from its unsecured
creditors.

William Lyon's current rating primarily reflects its highly
leveraged profile. Lease-adjusted debt totaled $530 million (79%
of capital) on Sept. 30, 2010, and both EBITDA and free operating
cash flow were insufficient to cover related interest incurred on
a trailing 12-month basis. "We also viewed the company to have a
less-than-adequate liquidity position because we believed that the
then-current $72 million unrestricted cash balance would not be
sufficient to cover an expected funds from operation shortfall in
2011 and a $14 million construction note maturity in July 2011,"
S&P stated.

According to S&P, "We expect to resolve the CreditWatch on or
around May 15, 2011, assuming that the company completes its
financial statements within the grace period provided for by the
indentures governing the senior unsecured notes. Possible
outcomes include an affirmation of our existing ratings or a one-
or-more notch downgrade if the financial statements indicate that
William Lyon's already precarious financial condition has
deteriorated further. A third potential outcome would be the
withdrawal our ratings if the financial statements are not filed
and we were unable to otherwise ascertain the homebuilder's
financial condition in a timely manner."


WYLE SERVICES: Moody's Says B3 CFR Unaffected by Credit Amendment
-----------------------------------------------------------------
Moody's Investors Service said that Wyle's proposed amendment to
its credit agreement, consisting of a $35 million revolving credit
facility and $290 million term loan with $283.4 million
outstanding, does not affect the B3 corporate family rating, nor
the existing instrument ratings and the positive ratings outlook.

These summarizes the current ratings:

   -- Corporate family rating at B3;

   -- Probability of default rating at B3.

   -- $35 million first lien senior secured revolving credit
      facility due 2015, at B1 (LGD-2, 24%)

   -- $290 million first lien term loan due 2016, at B1 (LGD-2,
      24%)

   -- $175 million 10.5% subordinated notes due 2018, at Caa2
      (LGD-5, 88%)

The principal methodology used in rating Wyle Services Corporation
was the Global Aerospace and Defense Methodology, published June
2010. Other methodologies used include Loss Given Default for
Speculative Grade Issuers in the US, Canada, and EMEA, published
June 2009.

Wyle Inc. is a provider of engineering and information technology
services to the federal government. Proforma for the CAS
acquisition, the company generated 2010 revenue of roughly
$1 billion.


YARLEN INVESTMENTS: Case Summary & 6 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Yarlen Investments, LLC
        dba Emporium by Yarlen Banquet & Special Event
        922 W. Hermosa Dr.
        San Antonio, TX 78201

Bankruptcy Case No.: 11-51477

Chapter 11 Petition Date: April 27, 2011

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

Judge: Leif M. Clark

Debtor's Counsel: William R. Davis, Jr., Esq.
                  LANGLEY & BANACK, INC
                  745 E Mulberry Ave, Suite 900
                  San Antonio, TX 78212
                  Tel: (210) 736-6600
                  Fax: (210) 735-6889
                  E-mail: wrdavis@langleybanack.com

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

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

A list of the Company's six largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/txwb11-51477.pdf

The petition was signed by Patricia A. Cavazos, managing member.


YRC WORLDWIDE: Reaches Deal to Support Restructuring Plan
---------------------------------------------------------
YRC Worldwide Inc. has entered into definitive agreements with key
stakeholders providing for their support of a comprehensive
restructuring plan.  The company reported that more than 95
percent of the senior secured lenders have now approved the
restructuring documentation, as have 100 percent of the company's
multi-employer pension funds, along with the International
Brotherhood of Teamsters, and 100 percent of the lenders under the
company's asset-backed securitization (ABS) facility, in each case
subject to the terms and conditions contained in the agreements.

"When we announced the non-binding agreement in principle in
February, we noted that our primary objective was to achieve a
comprehensive restructuring with a solid foundation for long-term
success," said John Lamar, chief restructuring officer and lead
director of YRC Worldwide.  "With these agreements, we believe
that foundation is now in place, and we remain on target to close
the restructuring in July."

The restructuring plan set out in the definitive agreements signed
today anticipates an infusion of $100 million in new capital, as
well as increased liquidity from a new asset-based loan (ABL)
facility, replacing the current ABS facility.  In addition, the
restructuring plan contemplates that a portion of the company's
existing loans and other obligations will be exchanged for new
securities, including the exchange of some obligations for equity.
This is expected to be accomplished by a series of transactions to
be completed in July, and would result in the company's existing
shareholders holding approximately 2.5% of the company's
outstanding common stock, subject to further dilution by a
management incentive plan and the conversion of certain new
securities.  Important additional information can be found in the
Current Report on Form 8-K to be filed today with the Securities
and Exchange Commission.

"We sincerely appreciate the support given to YRC Worldwide from
our lenders, the pension funds and the Teamsters," added Lamar.
"With our stakeholders having shown their confidence in the
company by executing these definitive agreements we look forward
to completing the restructuring as we have previously announced."

                   First Quarter Earnings Call

YRC Worldwide will hold a conference call for the investment
community on Friday, May 6, 2011, beginning at 9:30 a.m. ET, 8:30
a.m. CT.  First quarter earnings will be released the same day,
Friday, May 6, 2011, prior to the opening of the market.  The call
will be open to listeners live and by recorded playback via the
YRC Worldwide Internet site http://yrcw.com/

                    About YRC Worldwide

Headquartered in Overland Park, Kan., YRC Worldwide Inc. (NASDAQ:
YRCW) -- http://www.yrcw.com/-- is a holding company that through
wholly owned operating subsidiaries offers its customers a wide
range of transportation services.  These services include global,
national and regional transportation as well as logistics.

The Company's balance sheet at Dec. 31, 2010, showed $2.63 billion
in total assets, $2.73 billion in total liabilities and $95.84
million in total shareholders' deficit.

KPMG LLP's audit reports on the consolidated financial statements
of YRC Worldwide Inc. and subsidiaries for 2009 and 2010 each
contain an explanatory paragraph that states that the Company has
experienced significant declines in operations, cash flows and
liquidity and these conditions raise substantial doubt about the
Company's ability to continue as a going concern.

                           *     *     *

In January 2011, Standard & Poor's Ratings Services placed its
'CCC-' corporate credit rating on YRC Worldwide Inc. (YRCW) on
CreditWatch developing.  At the same time, S&P is withdrawing the
existing issue level ratings on Yellow Corp.'s senior unsecured
debt, given the negligible amounts outstanding.

"The ratings on Overland Park, Kan.-based YRCW reflect its near-
term liquidity challenges, meaningful off-balance-sheet contingent
obligations related to multiemployer pension plans, as well as its
participation in the competitive, capital-intensive, and cyclical
trucking industry," said Standard & Poor's credit analyst Anita
Ogbara.  "YRCW's substantial (albeit deteriorating) market
position in the less-than-truckload (LTL) sector, which has high
barriers to entry, partially offsets these characteristics.  We
characterize YRCW's business profile as weak, financial profile as
highly leveraged, and liquidity as weak."

As reported by the TCR on March 22, 2011, Moody's Investors
Service has lowered the Corporate Family Rating of YRC Worldwide,
Inc to Ca from Caa3.  The rating outlook is negative.  The rating
has been downgraded in response to the company's recent disclosure
of a "Milestone Failure" relating to requirements under its
amended credit agreement.  Moody's believes that this development
increases the risk in YRC's efforts to conclude critical
refinancing that is instrumental to its ability to avoid
bankruptcy.


* FDIC Closes 5 Banks, Pushes Year's Total Failures to 39
---------------------------------------------------------
Regulators shut down five banks in Florida, Georgia and Michigan
on Friday, lifting the number of bank failures this year to 39.

The Federal Deposit Insurance Corporation seized Park Avenue Bank,
based in Valdosta, Ga., with $953.3 million in assets; Community
Central Bank in Mount Clemens, Mich., with $476.3 million in
assets; First National Bank of Central Florida, based in Winter
Park, with $352 million in assets; and First Choice Community
Bank of Dallas, Ga., with $308.5 million in assets.  The FDIC
also took over Cortez Community Bank of Brooksville, Fla., with
$70.9 million in assets.

The Miami-based Premier American Bank agreed to assume the assets
and deposits of First National Bank of Central Florida and Cortez
Community Bank.  Bank of the Ozarks, based in Little Rock, Ark.,
has agreed to acquire the assets and deposits of Georgia-based
banks First Choice Community Bank and Park Avenue Bank.  Talmer
Bank & Trust, based in Troy, Mich., agreed to assume the assets
and deposits of Community Central Bank.

                  2011 Failed Banks List

The FDIC was appointed as receiver for the closed banks.  To
protect the depositors, the FDIC entered into a purchase and
assumption agreement with various banks that agreed to assume the
deposits of most of the closed banks.  The FDIC also entered into
loss-share transactions on assets bought by the banks.

For this year, the failed banks are:

                                 Loss-Share
                                 Transaction Party    FDIC Cost
                    Assets of    Bank That Assumed    to Insurance
                    Closed Bank  Deposits & Bought    Fund
   Closed Bank      (millions)   Certain Assets       (millions)
   -----------      -----------  --------------       -----------
Community Central        $476.3  Talmer Bank & Trust       $183.2
The Park Avenue Bank     $953.3  Bank of the Ozarks        $306.1
Cortez Community Bank     $70.9  Florida Community Bank     $18.6
First National Bank      $352.0  Florida Community Bank     $42.9
First Choice Community   $308.5  Bank of the Ozarks         $92.4

Heritage Banking         $224.0  Trustmark National         $49.1
Rosemount National        $37.6  Central Bank                $3.6
Nexity Bank              $793.7  AloStar Bank of Commerce  $175.4
New Horizons Bank        $110.7  Citizens South Bank        $30.9
Bartow County Bank       $330.2  Hamilton State Bank        $69.5
Superior Bank          $3,000.0  Superior Bank, N.A.       $259.6
Nevada Commerce Bank     $144.9  City National Bank         $31.9
Western Springs          $186.8  Heartland Bank             $31.0
Bank of Commerce         $163.1  Advantage National         $41.9
Legacy Bank              $190.4  Seaway Bank and Trust      $43.5
First Nat'l Bank of Davis $90.2  The Pauls Valley National  $26.5
Valley Community Bank    $123.8  First State Bank           $22.8
Citizens Bank            $214.3  Heritage Bank              $59.4
San Luis Trust           $332.6  First California           $96.1
Habersham Bank           $387.6  SCBT National              $90.3
Charter Oak Bank         $120.8  Bank of Marin              $21.8
Sunshine State           $125.5  Premier American           $30.0
Badger State Bank         $83.8  Royal Bank                 $17.5
Canyon National          $210.9  Pacific Premier Bank       $10.0
Peoples State Bank       $390.5  First Michigan Bank        $87.4
American Trust Bank      $238.2  Renasant Bank              $71.5
Community First           $51.1  Northbrook Bank            $11.7
North Georgia Bank       $153.2  BankSouth                  $35.2
First Community Bank   $2,310.0  U.S. Bank, N.A.           $260.0
FirsTier Bank            $781.5  No Acquirer               $242.6
Evergreen State          $246.5  McFarland State            $22.8
The First State Bank      $43.5  Bank 7                    $20.1
The Bank of Asheville    $195.1  First Bank                 $56.2
CommunitySouth Bank      $440.6  Certus Bank                $46.3
Enterprise Banking       $100.9  [No Acquirer]              $39.6
United Western Bank    $2,050.0  First-Citizens Bank       $312.8
Oglethorpe Bank          $230.6  Bank of the Ozarks         $80.4
Legacy Bank, Arizona     $150.6  Enterprise Bank & Trust    $27.9
First Commercial Bank    $598.5  First Southern Bank        $78.0

In 2010, there were 157 failed banks, compared with 140 in 2009
and just 25 for 2008.

A complete list of banks that failed since 2000 is available at:

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

                     884 Banks in Problem List

The FDIC said for all of 2010, mergers absorbed 197 institutions,
while 157 insured commercial banks and savings institutions
failed.  This is the largest annual number of bank failures since
1992, when 181 institutions failed.

The number of institutions on the FDIC's "Problem List" increased
from 860 in the third quarter to 884 in the fourth quarter.  There
were 775 banks on the list at the end of the first quarter and 829
at June 30.

Total assets of "problem" institutions increased from $379 billion
at Sept. 30, 2010, to $390 billion at the end of the fourth
quarter.  The assets though are below the $403 billion reported at
year-end 2009.

FDIC Chairman Sheila C. Bair notes the rate of increase in the
number of "problem" banks has declined in each of the past four
quarters.  Thirty insured institutions failed during the fourth
quarter, bringing the total number of failures for the full year
to 157.  "As we have repeatedly stated, we believe that the number
of failures peaked in 2010, and we expect both the number and
total assets of this year's failures to be lower than last
year's," added Bair.

                Problem Institutions        Failed Institutions
                --------------------        -------------------
Year           Number  Assets (Mil)        Number Assets (Mil)
----           ------  ------------        ------ ------------
2010              884      $390,017         157        $92,085
2009              702      $402,800         140       $169,700
2008              252      $159,405          25       $371,945
2007               76       $22,189           3         $2,615
2006               50        $8,265           0             $0
2005               52        $6,607           0             $0
2004               80       $28,250           4           $170

Federal regulators assign a composite rating to each financial
institution, based upon an evaluation of financial and operational
criteria.  The rating is based on a scale of 1 to 5 in ascending
order of supervisory concern.  "Problem" institutions are those
institutions with financial, operational, or managerial weaknesses
that threaten their continued financial viability. Depending upon
the degree of risk and supervisory concern, they are rated either
a "4" or "5."  The number and assets of "problem" institutions are
based on FDIC composite ratings.  Prior to March 31, 2008, for
institutions whose primary federal regulator was the OTS, the OTS
composite rating was used.


* S&P: Global Corp. Default Tally Remains at 13 So Far in 2011
--------------------------------------------------------------
The 2011 global corporate default tally remains at 13 after no
issuers defaulted this week, said an article published April 29 by
Standard & Poor's, titled "Global Corporate Default Update (April
22 - 28, 2011) (Premium)."

Eight of this year's defaulters are based in the U.S., two are
based in New Zealand, and one each is based in Canada, the Czech
Republic, and Russia.

By comparison, 32 global corporate issuers had defaulted by this
time in 2010.  Of these defaulters, 23 were from the U.S., one was
from Europe, two issuers were from the emerging markets, and six
were in the other developed region (Australia, Canada, Japan, and
New Zealand).

Five of this year's defaults were due to missed interest or
principal payments, and another five were due to distressed
exchange offers -- both among the top reasons for default in 2010.
Of the remaining three, one issuer defaulted after it filed for
bankruptcy, another had its banking license revoked by its
country's central bank, and the third was forced into liquidation
as a result of regulatory action.  Of the defaults in 2010, 28
defaults resulted from missed interest or principal payments, 25
resulted from Chapter 11 and foreign bankruptcy filings, 23 from
distressed exchanges, three from receiverships, one from
regulatory directives, and one from administration.

Following a year of record-setting highs in terms of global
corporate default statistics, 2010 provided the markets with a
noticeable reversal.  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.  The debt
amount affected by these defaults fell to $95.7 billion, also
considerably lower than in 2009.

Standard & Poor's baseline projection for the U.S. corporate
trailing 12-month speculative-grade default rate for March 2012 is
1.6%.  A total of 24 issuers would need to default from April 2011
to March 2012 to reach the forecast. The projection of 1.6% is
another 0.86-percentage-point (or another 35%) decline from the
2.46% default rate in March 2011.  This rate of decline would be
sharp, but slower than the decline over the past 16 months.
Improved lending conditions and a lower cost of capital are
keeping S&P's default expectations relatively upbeat in the next
12 months.  S&P is seeing stronger credit quality, as reflected in
fewer downgrades and lower negative bias.

In addition to its baseline projection, S&P forecasts the default
rate in its optimistic and pessimistic scenarios.  In its
optimistic default rate forecast scenario, the economy and the
financial markets improve more than expected.  As a result, S&P
would expect the default rate to be 1.2% (18 defaults in the next
12 months).

On the other hand, if the economic recovery stalls and the
financial markets deteriorate -- which is its pessimistic scenario
-- S&P expects the default rate to be 3.3% (50 defaults) by March
2012.


* BOND PRICING -- For Week From April 25 to 29, 2011
----------------------------------------------------

  Company            Coupon   Maturity Bid Price
  -------            ------   -------- ---------
AHERN RENTALS          9.25  8/15/2013   47.50
AMBAC INC              5.95  12/5/2035   13.00
AMBAC INC              6.15   2/7/2087    0.75
AMBAC INC              7.50   5/1/2023   15.35
AMBAC INC              9.50  2/15/2021   11.00
AMBASSADORS INTL       3.75  4/15/2027   43.52
BANK NEW ENGLAND       8.75   4/1/1999   13.50
BANK NEW ENGLAND       9.88  9/15/1999   13.50
BANKUNITED FINL        6.37  5/17/2012    5.50
CAPMARK FINL GRP       5.88  5/10/2012   56.00
CS FINANCING CO       10.00  3/15/2012    3.00
DUNE ENERGY INC       10.50   6/1/2012   72.00
EDDIE BAUER HLDG       5.25   4/1/2014    4.00
EVERGREEN SOLAR        4.00  7/15/2013   28.00
FAIRPOINT COMMUN      13.13   4/2/2018    1.00
FRANKLIN BANK          4.00   5/1/2027    5.19
GREAT ATLA & PAC       6.75 12/15/2012   36.25
GREAT ATLANTIC         9.13 12/15/2011   26.00
HARRY & DAVID OP       9.00   3/1/2013   19.26
KEYSTONE AUTO OP       9.75  11/1/2013   41.35
LEHMAN BROS HLDG       4.50   8/3/2011   23.75
LEHMAN BROS HLDG       4.70   3/6/2013   21.00
LEHMAN BROS HLDG       4.80  3/13/2014   25.50
LEHMAN BROS HLDG       5.00  2/11/2013   23.88
LEHMAN BROS HLDG       5.00  3/27/2013   23.30
LEHMAN BROS HLDG       5.00   8/5/2015   24.00
LEHMAN BROS HLDG       5.10  1/28/2013   23.65
LEHMAN BROS HLDG       5.15   2/4/2015   24.25
LEHMAN BROS HLDG       5.25   2/6/2012   25.50
LEHMAN BROS HLDG       5.25  2/11/2015   24.63
LEHMAN BROS HLDG       5.63  1/24/2013   26.00
LEHMAN BROS HLDG       5.75  5/17/2013   24.88
LEHMAN BROS HLDG       5.88 11/15/2017   24.00
LEHMAN BROS HLDG       6.00   4/1/2011   15.00
LEHMAN BROS HLDG       6.00  7/19/2012   24.25
LEHMAN BROS HLDG       6.00  6/26/2015   24.00
LEHMAN BROS HLDG       6.00 12/18/2015   24.25
LEHMAN BROS HLDG       6.63  1/18/2012   23.75
LEHMAN BROS HLDG       8.05  1/15/2019   24.25
LEHMAN BROS HLDG       8.50   8/1/2015   24.50
LEHMAN BROS HLDG       8.75 12/21/2021   23.50
LEHMAN BROS HLDG       8.80   3/1/2015   24.50
LEHMAN BROS HLDG       8.92  2/16/2017   25.75
LEHMAN BROS HLDG       9.00   3/7/2023   23.63
LEHMAN BROS HLDG       9.50 12/28/2022   23.00
LEHMAN BROS HLDG       9.50  1/30/2023   23.00
LEHMAN BROS HLDG       9.50  2/27/2023   23.38
LEHMAN BROS HLDG      10.00  3/13/2023   24.38
LEHMAN BROS HLDG      10.38  5/24/2024   24.50
LEHMAN BROS HLDG      11.00  6/22/2022   24.50
LEHMAN BROS HLDG      11.00  7/18/2022   22.38
LEHMAN BROS HLDG      11.00  8/29/2022   24.38
LEHMAN BROS HLDG      11.00  3/17/2028   23.75
LEHMAN BROS HLDG      12.12  9/11/2009    5.39
LEHMAN BROS HLDG      22.65  9/11/2009   24.00
LEHMAN BROS INC        7.50   8/1/2026   14.00
LTX-CREDENCE           3.50  5/15/2011   95.33
MAJESTIC STAR          9.75  1/15/2011   20.13
MIRANT AMERICAS        8.30   5/1/2011  100.13
MISBAP-CALL05/11       8.20  5/15/2025   98.28
MOHEGAN TRIBAL         8.38   7/1/2011   91.00
NEWPAGE CORP          10.00   5/1/2012   61.25
NEWPAGE CORP          12.00   5/1/2013   26.25
RASER TECH INC         8.00   4/1/2013   29.76
RESTAURANT CO         10.00  10/1/2013   15.00
RIVER ROCK ENT         9.75  11/1/2011   89.40
SBARRO INC            10.38   2/1/2015   20.55
TEXAS COMP/TCEH        7.00  3/15/2013   29.00
THORNBURG MTG          8.00  5/15/2013    5.24
TIMES MIRROR CO        7.25   3/1/2013   48.25
TOUSA INC              9.00   7/1/2010   13.50
TRANS-LUX CORP         8.25   3/1/2012   16.63
TRANS-LUX CORP         9.50  12/1/2012   15.25
TRICO MARINE           3.00  1/15/2027    4.55
VIRGIN RIVER CAS       9.00  1/15/2012   48.00
WASH MUT BANK FA       5.65  8/15/2014    0.27
WCI COMMUNITIES        7.88  10/1/2013    0.40
WOLVERINE TUBE        15.00  3/31/2012   40.19



                           *********

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.  Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Howard C. Tolentino, Joseph Medel C. Martirez, Denise
Marie Varquez, Philline Reluya, Ronald C. Sy, Joel Anthony G.
Lopez, Cecil R. Villacampa, Sheryl Joy P. Olano, Carlo Fernandez,
Christopher G. Patalinghug, and Peter A. Chapman, Editors.

Copyright 2011.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
Beard at 240/629-3300.


                  *** End of Transmission ***