TCR_Public/110709.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

             Saturday, July 9, 2011, Vol. 15, No. 188

                            Headlines

ALABAMA AIRCRAFT: Sales Cost Exceed Revenue in April
AMBAC FINANCIAL: Has $31,375,343 Cash at May 31
BANKUNITED FINANCIAL: Posts $292,524 Net Loss in May 2011
BEAR ISLAND: Reports $355,000 Net Profit in May 2011
BLOCKBUSTER INC: Ends May 2011 With $78.6 Million Cash

BORDERS GROUP: Has $35,400,000 Net Loss in May
CARITAS HEALTH: Ends May 2011 With $18.85 Million Cash
CATHOLIC CHURCH: Milwaukee Has $513,422 Operating Loss in May
CATHOLIC CHURCH: Wilmington Received $2.1 Million in March
CATHOLIC CHURCH: Wilmington Received $3.07 Million in April

LEHMAN BROTHERS: Now Has $23.48 Billion in Cash
MSR RESORT: Posts $8.44MM Net Loss Before Reorganization Items
NORTEL NETWORKS: Ends May 2011 With $999 Million Cash
RASER TECHNOLOGIES: Posts $1.46 Million Net Loss in May 2011
TRIBUNE CO: Has $20,074,000 Net Income in May 2011

TROPICANA ENT: Adamar of NJ Has $2.45-Mil. Cash at May 31
WASHINGTON MUTUAL: Ends May 2011 With $4.51 Billion Cash
WOLVERINE TUBE: Posts $116,436 Net Loss in May 2011



                            *********




ALABAMA AIRCRAFT: Sales Cost Exceed Revenue in April
----------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Alabama Aircraft Industries Inc. reported to the
bankruptcy court that the cost of sales in April exceeded the
month's revenue of $688,000 by $1.17 million. The net loss for the
month was $2.02 million.

                     About Alabama Aircraft

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

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

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

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

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

Hoping for a sale of the business, AAI canceled an auction for
lack of an acceptable bid. AAI sought a buyer after being
unable to locate an equity investor.


AMBAC FINANCIAL: Has $31,375,343 Cash at May 31
-----------------------------------------------

                    Ambac Financial Group, Inc.
                           Balance Sheet
                         As of May 31, 2011

ASSETS:

Current Assets:
Unrestricted Cash and Equivalents                   $31,375,343
Restricted Cash and Cash Equivalents                  2,500,000
Accounts Receivable                                           -
Notes Receivable                                        862,112
Inventories                                                   -
Prepaid Expenses                                              -
Professional Retainers                                4,133,439
Other Current Assets                                 22,601,101
                                            -------------------
Total Current Assets                                 61,471,995

Property & Equipment:
Real Property and Improvements                                -
Machinery & Equipment                                         -
Furniture, Fixtures, and Office Equipment                     -
Leasehold Improvements                                        -
Vehicles                                                      -
Less: Accumulated Depreciation                                -
                                            -------------------
Total Property & Equipment                                    -

Other Assets:
Amounts Due From Insiders                               426,514
Other Assets                                       (920,871,781)
                                            -------------------
Total Other Assets                                 (920,445,267)
                                            -------------------
Total Assets                                      ($858,973,272)
                                            ===================

LIABILITIES AND OWNERS' EQUITY:

Liabilities Not Subject to Compromise (Postpetition)
Accounts Payable                                              -
Taxes Payable                                                 -
Wages Payable                                                 -
Notes Payable                                                 -
Rent/Leases - Building/Equipment                              -
Secured Debt/Adequate Protection Payments                     -
Professional Fees                                   $12,978,083
Amounts Due to Insiders                                 242,859
Other Postpetition Liabilities                           44,941
                                            -------------------
Total Postpetition Liabilities                       13,265,883

Liabilities Subject to Compromise (Prepetition):
Secured Debt                                                  -
Priority Debt                                                 -
Unsecured Debt                                    1,710,150,439
                                            -------------------
Total Prepetition Liabilities                     1,710,150,439

Total Liabilities                                 1,723,416,322

Owners' Equity:
Capital Stock                                         3,080,168
Additional Paid-in Capital                        2,187,715,224
Partners' Capital Account                                     -
Owners' Equity Account                                        -
Retained earnings - prepetition                  (3,896,443,042)
Retained earnings - postpetition                   (968,426,987)
Adjustments to Owner Equity                          91,685,043
Postpetition Contributions                                    -
                                            -------------------
Net Owners' Equity                               (2,582,389,594)
                                            -------------------
Total Liabilities & Owners' Equity                ($858,973,272)
                                            ===================

                   Ambac Financial Group, Inc.
                     Statement of Operations
                For the month ended May 31, 2011

Gross Revenues                                                -
Less: Returns & Allowances                                    -
                                            -------------------
Net Revenue                                                   -

Cost of Goods Sold:
Beginning Inventory                                           -
Add: Purchases                                                -
    Cost of labor                                             -
    Other costs                                               -
Less: Ending Inventory                                        -
                                            -------------------
Cost of Goods Sold                                            -

Gross Profit                                                  -

Operating Expenses:
Advertising                                                   -
Auto and Truck Expense                                        -
Bad Debts                                                     -
Contributions                                                 -
Employee Benefits Programs                              $25,962
Officer/Insider Compensation                            135,950
Insurance                                                     -
Management Fees/Bonuses                                       -
Office Expense                                                -
Pension & profit sharing plans                                -
Repairs & Maintenance                                         -
Rent and Lease Expense                                        -
Salaries/Commissions/Fees                                     -
Supplies                                                      -
Taxes - Payroll                                           1,711
Taxes - Real Estate                                           -
Taxes - Other                                                 -
Travel & Entertainment                                        -
Utilities                                                     -
Other                                                   122,955
                                            -------------------
Total Operating Expenses Before                         286,578
  Depreciation

Depreciation/Depletion/Amortization                           -
                                            -------------------
Net profit(loss) Before Other Income &                 (286,578)
  Expenses

Other Income and Expenses:
Other income                                             24,889
Interest Expense                                              -
Other Expense                                       (11,864,368)
                                            -------------------
Net profit (loss) Before Reorganization Items        11,602,679

Reorganization Items:
Professional Fees                                     3,048,028
U.S. Trustee Quarterly Fees                              13,000
Interest on Cash from Chapter 11                              -
Gain from Sale of Equipment                                   -
Other Reorganization Expenses                                 -
                                            -------------------
Total Reorganization Expenses                         3,061,028
                                            -------------------
Income Taxes                                                  -
                                            -------------------
Net Profit (Loss)                                    $8,541,651
                                            ===================

                    Ambac Financial Group, Inc.
           Schedule of Cash Receipts and Disbursements
              For the month ended May 31, 2011

Cash Beginning of Month                             $34,276,823

Receipts:
Cash Sales                                                    -
Accounts Receivable - Prepetition                             -
Accounts Receivable - Postpetition                            -
Loans and Advances                                            -
Sale of Assets                                                -
Other                                                   114,759
Transfers                                             5,903,035
                                            -------------------
Total Receipts                                        6,017,794

Disbursements:
Gross Payroll                                            97,091
Sales, Use, & Other Taxes                                     -
Inventory Purchases                                           -
Secured/Rental/Leases                                         -
Insurance                                                     -
Administrative                                                -
Selling                                                       -
Other                                                 2,919,147
Owner Draw                                                    -
Transfers (to DIP Accts.)                             5,903,035
Professional Fees                                             -
U.S. Trustee Quarterly Fees                                   -
Court Costs                                                   -
                                            -------------------
Total Disbursements                                   8,919,272
                                            -------------------
Net Cash Flow                                        (2,901,479)
                                            -------------------
Cash - End of Month                                 $31,375,344
                                            ===================

                    About Ambac Financial

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

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

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

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

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

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

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

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


BANKUNITED FINANCIAL: Posts $292,524 Net Loss in May 2011
---------------------------------------------------------
BankUnited Financial Corporation, together with its subsidiaries
BankUnited Financial Services, Inc., and CRE America Corporation,
filed on June 24, 2011, its monthly operating report for
May 2011 with the United States Bankruptcy Court for the
Southern District of Florida.

Funds at May 31, 2011, were roughly $11.5 million compared to
roughly $11.2 million at April 30, 2011.

BankUnited Financial Corporation, et al., reported a net loss of
$292,524 on total income of $2,423 for the period.

At May 31, 2011, BankUnited Financial Corporation, et al., had
$32.9 million in total assets, $573.4 million in total
liabilities, and a stockholders' deficit of $540.5 million.

A copy of the operating report is available at http://is.gd/wBmnVk

                   About BankUnited Financial

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

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

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

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


BEAR ISLAND: Reports $355,000 Net Profit in May 2011
----------------------------------------------------
Island Paper Co. LLC, a subsidiary of Canada's White Birch Paper
Co., reported a $355,000 net profit and operating profit in the
same amount in May 2011 on net sales of $12.26 million.  During
the month, the gross profit was $1.09 million.  Bear Island was
authorized by the bankruptcy judge in November to sell the
business to a group consisting of Black Diamond Capital Management
LLC, Credit Suisse Group AG, and Caspian Capital Advisors LLC.

                 About White Birch & Bear Island

Canada-based White Birch Paper Company is the second-largest
newsprint producer in North America.  As of Dec. 31, 2009, the
White Birch Group held a 12% share of the North American newsprint
market and employed roughly 1,300 individuals (the majority of
which reside in Canada).  Bear Island Paper Company, L.L.C., is a
U.S.-based unit of White Birch.

Bear Island filed a voluntary petition for relief under Chapter 11
of the Bankruptcy Code (Bankr. E.D. Va. Case No. 10-31202) on
February 24, 2010.  Bear Island estimated assets of $100 million
to $500 million and debts of $500 million to $1 billion in its
Chapter 11 petition.

White Birch filed for bankruptcy protection under Canada's
Companies' Creditors Arrangement Act, before the Superior Court
for the Province of Quebec, Commercial Division, Judicial District
of Montreal, Canada.  White Birch and five other affiliates --
F.F. Soucy Limited Partnership; F.F. Soucy, Inc. & Partners,
Limited Partnership; Papier Masson Ltee; Stadacona Limited
Partnership; and Stadacona General Partner, Inc. -- also sought
bankruptcy protection under Chapter 15 of the U.S. Bankruptcy Code
(Bankr. E.D. Va. Case No. 10-31234).

Jonathan L. Hauser, Esq., at Troutman Sanders LLP, in Virginia
Beach, Virginia; and Richard M. Cieri, Esq., Christopher J.
Marcus, Esq., and Michael A. Cohen, Esq., at Kirkland & Ellis LLP,
in New York, serve as counsel to White Birch, as Foreign
Representative.  Kirkland & Ellis and Troutman Sanders also serve
as Chapter 11 counsel to Bear Island.  AlixPartners LLP serves as
financial and restructuring advisors to Bear Island, and Lazard
Freres & Co., serves as investment banker.  Garden City Group is
the claims and notice agent.  Jason William Harbour, Esq., at
Hunton & Williams LLP, in Richmond, Virginia, represents the
Official Committee of Unsecured Creditors.  Chief Judge Douglas O.
Tice, Jr., handles the Chapter 11 and Chapter 15 cases.


BLOCKBUSTER INC: Ends May 2011 With $78.6 Million Cash
------------------------------------------------------
On July 1, 2011, Blockbuster Inc. and certain of its domestic
subsidiaries filed their monthly operating report for the period
ended May 31, 2011, with the U.S. Bankruptcy Court for the
Southern District of New York.

The Debtors reported a net loss of $4.5 million on $0 revenue for
the period.

At May 31, 2011, the Debtors had $100.8 million in total assets,
$1.406 billion in total liabilities, and a stockholders'
deficit of $1.305 billion.  At May 31, 2011, the Debtors had
$78.6 million in cash and cash equivalents, compared to
$201.2 million at the beginning of the period.

A copy of the monthly operating report is available at:

       http://bankrupt.com/misc/blockbuster.may2011mor.pdf

                      About Blockbuster Inc.

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

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

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

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

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

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

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

The Bank of New York Trust Company, N.A., as trustee under that
certain indenture, dated as of Aug. 20, 2004, with respect to the
9% Senior Subordinated Notes due 2012 issued by Blockbuster Inc.,
is represented by Edward P. Zujkowski, Esq., at Emmet, Marvin &
Martin, LLP.

The Ad Hoc Studio Committee of Blockbuster Inc. et al. is
represented by Robert J. Feinstein, Esq., at Pachulski Stang Ziehl
& Jones LLP.

Blockbuster on Feb. 21, 2011, entered into an Asset Purchase and
Sale Agreement providing for the sale of substantially all of
their assets or the proceeds of those assets to a newly formed
entity named Cobalt Video Holdco LLC.  For purposes of entering
into the Purchase Agreement, the Purchaser was established by
Monarch Alternative Capital LP, Owl Creek Asset Management LP,
Stonehill Capital Management, LLC, and Varde Partners, Inc. who
collectively hold more than 50% of the Senior Secured Notes and
each of which is a member of the Steering Committee.  Cobalt Video
Holdco LLC, the stalking horse purchaser, was represented by Mark
Shinderman, Esq., at Milbank, Tweed, Hadley & McCloy LLP.

The auction was held earlier in April and Dish Network Corp. won
with an offer having a gross value of $320 million.


BORDERS GROUP: Has $35,400,000 Net Loss in May
----------------------------------------------

                        Borders Group, Inc.
                           Balance Sheet
                         As of May 28, 2011

ASSETS
Current assets:
Cash and cash equivalents                          $19,100,000
Merchandise inventories                            444,700,000
Accounts receivable and other current assets        60,500,000
                                              -----------------
Total current assets                               524,300,000

Property and equipment,
net of accumulated depreciation                    165,300,000
Other assets                                         24,700,000
                                              -----------------
   TOTAL ASSETS                                    $714,300,000
                                              =================

LIABILITIES
Current liabilities:
Short term debt-credit facility                   $137,500,000
Capital lease liability                              1,100,000
Trade accounts payable                              13,800,000
Accrued payroll and other liabilities              159,100,000
Taxes, including income taxes                       25,900,000
                                              -----------------
Total current liabilities                          337,400,000

Long-term debt                                        1,100,000
Other long-term liabilities                         155,400,000
Liabilities subject to compromise                   594,000,000
                                              -----------------
Total liabilities                                1,087,900,000

Stockholders' equity:
Common stock                                        188,900,000
Retained deficit                                   (562,500,000)
                                              -----------------
Total stockholders' equity                        (373,600,000)
                                              -----------------
   TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY     $714,300,000
                                              =================


                      Borders Group, Inc.
                   Statement of Operations
               For the Period May 1 to 28, 2011

Sales                                               $81,600,000
Other revenue                                        15,500,000
                                              -----------------
Total revenue                                       97,100,000

Cost of merchandise sold (includes occupancy)        84,300,000
                                              -----------------
Gross margin                                        12,800,000

Selling, general and administrative expenses         27,700,000
                                              -----------------
Operating income (loss)                            (14,900,000)

Interest expense (income)                             3,200,000
                                              -----------------

Income (loss) from continuing operations
before reorganization items and income taxes       (18,100,000)

Reorganization items, net                            17,300,000
                                              -----------------
Income (loss) from continuing operations
before income taxes                                (35,400,000)

Income tax provision (benefit)                               -
                                              -----------------
  NET INCOME (LOSS)                               ($35,400,000)
                                              =================


                      Borders Group, Inc.
         Schedule of Cash Receipts and Disbursements
              For the period May 1 to 28, 2011

Cash Receipts
Combined Debtors                                   $226,103,000
                                              -----------------
Total Cash Receipts                               $226,103,000
                                              =================

Cash Disbursements:
Borders Group, Inc.                                 ($5,200,000)
Borders, Inc.                                      (214,349,000)
Borders International Services, Inc.                          -
Borders Direct, LLC                                  (6,293,000)
Borders Properties, Inc.                                (15,000)
Borders Online, Inc.                                          -
Borders Online, LLC                                           -
BGP (UK) Limited                                              -
                                              -----------------
Total Cash Disbursements                         ($225,857,000)
                                              =================

Borders also made payments totaling $16,939,000 for its DIP Loans
and Leases for the period May 1 to 28, 2011.

A full-text copy of Borders' May 2011 Monthly Operating Report is
available for free at:

        http://bankrupt.com/misc/Borders_May2011MOR.pdf

                     About Borders Group

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

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

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

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

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

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

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

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


CARITAS HEALTH: Ends May 2011 With $18.85 Million Cash
------------------------------------------------------
Caritas Health Care, Inc., filed with the U.S. Bankruptcy Court
for the Eastern District of New York on June 15, 2011, its
monthly operating report for May 2011.

The Company reported net income of $90,796 on $86,065 of revenue
for the month.

At May 31, 2011, the Debtor had $32.3 million in total assets,
$161.0 million in total liabilities, and a stockholders' deficit
of $128.7 million.  The Company ended the period with $18,851,216
in cash.  Payments to professionals totaled $9,060 for the month.

A copy of the monthly operating report is available at:

      http://bankrupt.com/misc/caritashealth.may2011mor.pdf

                     About Caritas Health Care

Caritas Health Care Inc. was the owner of Mary Immaculate Hospital
and St. John's Queens Hospital.  Caritas, created by Wyckoff
Heights Medical Center, purchased the two hospitals in a
bankruptcy sale in early 2007 from St. Vincent Catholic Medical
Centers of New York.  St. John's has 227 generate acute-care beds
while Mary Immaculate has 189.

Caritas Health Care, Inc., and eight of its affiliates sought
chapter 11 protection (Bankr. E.D.N.Y., Case No. 09-40901) on
Feb. 6, 2009.  Jeffrey W. Levitan, Esq., and Adam T. Berkowitz,
Esq., at Proskauer Rose, LLP, represent the Debtors.  Martin G.
Bunin, Esq., and Craig E. Freeman, Esq., at Alston & Bird LLP,
represent the official committee of unsecured creditors.

Caritas sold the hospitals to Joshua Guttman in November 2009 for
$17.7 million.


CATHOLIC CHURCH: Milwaukee Has $513,422 Operating Loss in May
-------------------------------------------------------------

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

Current Assets
  Cash and cash equivalents                       $7,562,854.26
  Short-term investments                           3,387,909.07
  Accounts receivables                             3,662,218.89
  Notes receivable                                   823,392.32
  Other Assets                                       628,145.88
  Prepaid Expenses                                   710,000.00
                                                 --------------
     Total Current Assets                         16,774,520.41

Ground burial & mausoleum crypt sites              6,038,287.04
Property and equipment, net                        4,773,484.66

Investments and Other Assets
  Long-term investments                           12,995,310.94
  Cemeteries Pre-Need Trust Fund Acct              3,259,128.39
  Charitable gift annuities invest.                  718,155.40
  Other Assets                                       315,470.50
                                                 --------------
  Total Investments and Other Assets              17,288,065.23
                                                 --------------
     TOTAL ASSETS                                $44,874,357.34
                                                 ==============


Current Liabilities
  Current maturities of charitable
     gift annuities                                           -
  Accounts payable                                   399,422.14
  Accrued expenses                                 1,468,326.32
  Chapter 11 expenses                                506,010.72
  Contributions payable C.S.A.                     2,657,224.00
                                                 --------------
  Total Current Liabilities                        5,030,962.47

Deferred revenue                                   3,290,524.34

Prepetition Debt
  Accrued post-retirement and
     pension benefits                             14,862,955.00
  Contractual contributions payable                2,760,769.51
  Pre-Chapter 11 payables                            600,545.02
  Note payable                                     4,650,000.00
  Charitable gift annuities                          580,768.00
                                                 --------------

  Total Liabilities                               31,492,461.53

  Unclassified - Prepetition Operations              500,858.94
  Unclassified - postpetition Operations          (1,780,853.57)

  Unrestricted - Current Year                                 -
  Unrestricted - Prior Year                        1,566,138.90
                                                 --------------
  Total Undesignated operating (deficit)           1,566,138.90

  Designated Current Year                                     -
  Designated Prior Year                            6,480,976.51
                                                 --------------
  Total Designated                                 6,480,976.51
                                                 --------------
  Total Unrestricted                               8,047,115.41

  Temporarily restricted Current Year                         -
  Temporarily restricted Prior Year                2,614,326.17
                                                 --------------
  Total Temporarily Restricted                     2,614,326.17

  Permanently restricted Current Year                         -
  Permanently restricted Prior Year                3,716,366.05
                                                 --------------
  Total Permanently Restricted                     3,716,366.05
                                                 --------------
  Total Net Assets                                13,097,813.00
                                                 --------------
  Total Liabilities and Net Assets               $44,874,357.34
                                                 ==============

Note: Invested funds held for others totaled $2,850,382.


                    Archdiocese of Milwaukee
                    Statements of Activities
                       As of May 31, 2011

CHANCERY
Support and Revenue
  Contributions                                     $933,120.47
  Parish assessments                                          -
  Parish assessments adj. to budget                           -
  Tuition and fees                                    81,768.59
  Activities and programs                              6,466.58
  Miscellaneous revenues                              77,453.46
  Net assets released from restrictions                       -
                                                 --------------
  Total Support and Revenue                        1,098,811.10

CHANCERY OPERATING EXPENSES
  Payroll and fringe benefits                        512,403.33
  Maintenance, insurance, utility costs               55,909.75
  Travel and education                                28,164.76
  Supplies and services                               89,828.96
  Assessments                                         32,006.00
  Purchased services                                 261,782.00
  Professional services                              269,891.66
  Charity and donations                              284,402.48
  Miscellaneous expenses                              77,843.69
  Pension related changes other than NPPC                     -
                                                 --------------
  Total Operating Expenses                         1,612,232.66

  Chancery income before fixed assets,           --------------
     non-operations gain (loss), and                (513,421.55)
     extraordinary expense

FIXED ASSETS
  Fixed asset purchases                                       -
  Depreciation expense                               (17,880.63)
  Impairment of leasehold improvements                        -
  Gain(loss) on sale of property and
     equipment, net                                           -
                                                 --------------
  Total Fixed Asset Expense (Income)                 (17,880.63)

NON-OPERATING ACTIVITIES
  Investment income                                   40,354.53
  Net realized gains(losses)                           2,103.54
  Net unrealized gains(losses)                       133,421.36
  Interest expense                                   (21,021.48)
  Other non-operating revenues(expenses)                      -
                                                 --------------
  Total non-operating activities                     154,857.95
                                                 --------------
  Extraordinary events, net                                0.00
                                                 --------------
Chancery net gain(loss)                             (376,444.23)

Reimbursed operations net gain(loss)                 (84,777.85)
                                                 --------------
Change in net assets before cumulative              (461,222.08)
  effect and cemetery operations

Cumulative effect of change in                             0.00
  accounting principle
                                                 --------------
Chancery change in net assets                       (461,222.08)

Cemetery operations
  Cemetery gain(loss)                               (220,536.31)
                                                 --------------
Cemetery change in net assets                       (220,536.31)
                                                 --------------
Total change in net assets                         ($661,758.39)
                                                 ==============


                    Archdiocese of Milwaukee
                         Cash Receipts
               For the month ending April 30, 2011

Receipt Category
  Contributions                                     $949,990.55
  Assessments                                                 -
  Tuition and fees                                    84,300.18
  Cemetery cash receipts/transfers                   412,941.76
  Investment income                                        0.16
  Realized gains                                              -
  Gains on sales and fixed assets                             -
  Miscellaneous revenues                              56,615.64
  Clearing                                            29,105.31
  A/R & N/R payments                                 374,710.15
                                                 --------------
  Total Receipts                                  $1,907,663.75

Notes: Funds transferred in from other
      Archdiocesan accounts                       $3,952,108.31
      Funds held for others                           52,740.00
                                                 ==============

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

Disbursements Category
  Salary and wages                                  $474,812.25
  Payroll taxes                                      170,530.51
  Employee benefits                                  165,625.98
  Employee withholdings                               33,735.64
  Facility and operating                             211,918.62
  Travel and education                                29,205.27
  Supplies                                            97,032.25
  Assessments                                         32,006.00
  Purchased services                                 201,828.42
  Legal/Professional                                 311,596.39
  Grants                                             281,033.98
  Interest and bank fees                              13,660.40
  Other                                              101,218.11
  Reimbursed expense                                  86,913.04
  Clearing                                             3,865.73
  Fee assistance                                              -
                                                 --------------
  Total Disbursements                             $2,214,982.59

Notes: Funds transferred in from other
      Archdiocesan accounts                       $2,752,108.31
      Funds held for others                          $23,785.68
                                                 ==============

                  About the Diocese of Milwaukee

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

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

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

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

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

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


CATHOLIC CHURCH: Wilmington Received $2.1 Million in March
----------------------------------------------------------

             Catholic Diocese of Wilmington, Inc.
                         Balance Sheet
                      As of March 31, 2011

ASSETS
  Cash & Equivalents                                   $890,697
  Accounts Receivable (Net)                           2,691,897
  Payroll Receivable                                          -
  Notes Receivable                                    1,449,759
  Advance PIA Distributions                           3,562,735
  Professional Retainers                                545,000
  Unrestricted Pooled Investments                    93,874,227
  Restricted Pooled Investments                      33,719,164
  Unallocated Audit Fees                                      -
  Other Assets                                           53,743
  Real Estate                                           899,140
  Assets Held for Others                                      -
                                                    -----------
     TOTAL ASSETS                                  $137,686,362
                                                    ===========

LIABILITIES
  Pre-Filing Accounts Payable                          $136,216
  Payroll & Payroll Taxes Payable                             -
  Payroll Garnishments Payable                                -
  Accrued Vacation Time Payable                         148,013
  Blue Cross/Blue Shield Accrual                         38,260
  Accounts Payable Capital Campaign                      10,404
  Bonds Payable                                      11,000,000
  Priest Pension                                     13,107,216
  Lay Pensions                                       64,366,743
  National Collections                                  309,270
  Other Liabilities                                     955,984
  Assets Held for Others                                      -
  Pooled Investment Account Claims                   84,548,431
                                                    -----------
     TOTAL LIABILITIES                              174,620,537

NET ASSETS
  Beginning Year Net Assets                         (41,816,364)
  Net Assets - Prepetition                            4,138,712
  Net Assets - Postpetition                             743,477
                                                    -----------
TOTAL NET ASSETS                                    (36,934,175)
                                                    -----------
TOTAL LIABILITIES & NET ASSETS                     $137,686,362
                                                    ===========


             Catholic Diocese of Wilmington, Inc.
                    Statement of Operations
              For the month ending March 31, 2011

CDOW Operations
  CDOW Revenue
     Assessments                                       $319,963
     Investment Income                                  604,515
     Operational Income                                 221,422
     Designated Income (Education)                        6,071
                                                    -----------
  Total CDOW Revenue                                  1,151,971

  CDOW Expenses
     Payroll & Taxes                                   (217,782)
     Medical Payments                                         -
     Other Compensation                                 (67,453)
     Other Operational                                 (363,237)
     Capital Expenditures                                     -
     Catholic Schools, Inc.                                   -
     Casa San Francisco                                       -
     Ministry to the Elderly                                  -
     Bankruptcy professionals                                 -
     Neumann Center                                      (5,150)
     Vision for the Future
        (Tuition Assistance)                                  -
     Owed to Parishes (Cap Campaign)                       (550)
                                                    -----------
  Total CDOW Expenses                                  (654,172)
                                                    -----------
CDOW NET OPERATING CASH                                 497,799

  Program Services
     Annual Appeal Revenue                              417,615
     Program Services Expenditures
        Catholic Youth Organization                      (8,983)
        Catholic Charities                              (85,858)
        High School Appeal Allocation                         -
        The Dialog                                      (50,297)
                                                    -----------
     Total Program Services Expenses                   (145,138)
                                                    -----------
  PROGRAM SERVICES NET CASH                             272,477

Benefits & Insurance Program Administration
  Medical Program
     Premiums Received                                1,144,008
     Expenses                                        (1,250,727)
                                                    -----------
     Net Medical                                       (106,719)

  Workers Compensation
     Premiums Received                                        -
     Expenses                                          (102,153)
                                                    -----------
     Net Workers Comp                                  (102,153)

  Property & Liability Insurance
     Premiums Received                                        -
     Expenses                                           (36,695)
                                                    -----------
     Net P&L Insurance                                  (36,695)

  Pensions
     Priests                                            (55,650)
     Lay Employees                                            -
                                                    -----------
     Total Pensions                                     (55,650)
                                                    -----------
NET CHANGE IN LIQUIDITY                                $469,059
                                                    ===========


             Catholic Diocese of Wilmington, Inc.
          Schedule of Cash Receipts and Disbursements
              For the month ending March 31, 2011

CASH BEGINNING OF PERIOD                                $967,512

RECEIPTS
  ASSESSMENTS                                           319,963
  ANNUAL APPEAL                                         417,615
  INSURANCE PREMIUMS                                  1,144,008
  OTHER OPERATING                                       227,493
                                                    -----------
  TOTAL RECEIPTS                                      2,109,079

DISBURSEMENTS
  NET PAYROLL AND TAXES                                 217,782
  INSURANCE PAYMENTS                                  1,389,575
  OPERATING EXPENSES                                    431,525
  OTHER                                                 145,138
  PROFESSIONAL FEES                                           -
  U.S. TRUSTEE QUARTERLY FEES                             2,600
  COURT COSTS                                                 -
                                                    -----------
TOTAL DISBURSEMENTS                                   2,186,620
                                                    -----------
NET CASH FLOW                                           (77,541)

Transfers out                                             2,171
Transfers in                                                  -
Other transfers/returns/fees                                  -
                                                    -----------
CASH - END OF PERIOD                                   $887,800
                                                    ===========

                  About the Diocese of Wilmington

The Diocese of Wilmington covers Delaware and the Eastern Shore
of Maryland and serves about 230,000 Catholics.  The Delaware
diocese is the seventh Roman Catholic diocese to file for Chapter
11 protection to deal with lawsuits for sexual abuse.  Previous
filings were by the dioceses in Spokane, Washington; Portland,
Oregon; Tucson, Arizona; Davenport, Iowa, Fairbanks, Alaska; and
San Diego, California.

The Diocese filed for Chapter 11 protection (Bankr. D.
Del. Case No. 09-13560) on Oct. 18, 2009.  Attorneys at Young
Conaway Stargatt & Taylor, LLP, serve as counsel to the Diocese.
The Ramaekers Group, LLC, is the financial advisor.  The petition
says assets range $50 million to $100 million while debts are
between $100 million to $500 million.

The bankruptcy filing automatically stayed eight consecutive abuse
trials scheduled in Delaware scheduled to begin Oct. 19, 2009.
There were 131 cases filed against the Diocese, with 30 scheduled
for trial, as of the bankruptcy filing.

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


CATHOLIC CHURCH: Wilmington Received $3.07 Million in April
-----------------------------------------------------------

             Catholic Diocese of Wilmington, Inc.
                         Balance Sheet
                      As of April 30, 2011

ASSETS
  Cash & Equivalents                                 $1,774,475
  Accounts Receivable (Net)                           2,326,250
  Payroll Receivable                                          -
  Notes Receivable                                    1,448,357
  Advance PIA Distributions                           3,686,397
  Professional Retainers                                545,000
  Unrestricted Pooled Investments                    98,432,333
  Restricted Pooled Investments                      30,635,219
  Unallocated Audit Fees                                      -
  Other Assets                                           53,743
  Real Estate                                           899,140
  Assets Held for Others                                      -
                                                    -----------
     TOTAL ASSETS                                  $139,800,914
                                                    ===========

LIABILITIES
  Pre-Filing Accounts Payable                          $136,216
  Payroll & Payroll Taxes Payable                             -
  Payroll Garnishments Payable                                -
  Accrued Vacation Time Payable                         148,013
  Blue Cross/Blue Shield Accrual                         38,285
  Accounts Payable Capital Campaign                      10,404
  Bonds Payable                                      11,000,000
  Priest Pension                                     13,107,216
  Lay Pensions                                       64,366,743
  National Collections                                  384,474
  Other Liabilities                                     178,699
  Assets Held for Others                                      -
  Pooled Investment Account Claims                   84,512,292
                                                    -----------
     TOTAL LIABILITIES                              173,882,342

NET ASSETS
  Beginning Year Net Assets                         (41,816,364)
  Net Assets - Prepetition                            4,138,712
  Net Assets - Postpetition                                   -
                                                    -----------
TOTAL NET ASSETS                                    (34,081,428)
                                                    -----------
TOTAL LIABILITIES & NET ASSETS                     $139,800,914
                                                    ===========


             Catholic Diocese of Wilmington, Inc.
                    Statement of Operations
              For the month ending April 30, 2011

CDOW Operations
  CDOW Revenue
     Assessments                                       $286,164
     Investment Income                                1,978,764
     Operational Income                                 281,815
     Designated Income (Education)                      673,933
                                                    -----------
  Total CDOW Revenue                                  3,220,676

  CDOW Expenses
     Payroll & Taxes                                   (214,061)
     Medical Payments                                         -
     Other Compensation                                 (45,435)
     Other Operational                                  (88,889)
     Capital Expenditures                                     -
     Catholic Schools, Inc.                                   -
     Casa San Francisco                                       -
     Ministry to the Elderly                                  -
     Bankruptcy professionals                          (996,335)
     Neumann Center                                      (5,150)
     Vision for the Future
        (Tuition Assistance)                           (230,467)
     Owed to Parishes (Cap Campaign)                          -
                                                    -----------
  Total CDOW Expenses                                (1,580,337)
                                                    -----------
CDOW NET OPERATING CASH                               1,640,339

  Program Services
     Annual Appeal Revenue                              971,546
     Program Services Expenditures
        Catholic Youth Organization                      (8,983)
        Catholic Charities                              (85,858)
        High School Appeal Allocation                         -
        The Dialog                                      (50,297)
                                                    -----------
     Total Program Services Expenses                   (145,138)
                                                    -----------
  PROGRAM SERVICES NET CASH                             826,408

Benefits & Insurance Program Administration
  Medical Program
     Premiums Received                                  858,429
     Expenses                                          (871,009)
                                                    -----------
     Net Medical                                        (12,580)

  Workers Compensation
     Premiums Received                                        -
     Expenses                                                 -
                                                    -----------
     Net Workers Comp                                         -

  Property & Liability Insurance
     Premiums Received                                        -
     Expenses                                                 -
                                                    -----------
     Net P&L Insurance                                        -

  Pensions
     Priests                                            (55,650)
     Lay Employees                                            -
                                                    -----------
     Total Pensions                                     (55,650)
                                                    -----------
NET CHANGE IN LIQUIDITY                              $2,398,517
                                                    ===========


             Catholic Diocese of Wilmington, Inc.
          Schedule of Cash Receipts and Disbursements
              For the month ending April 30, 2011

CASH BEGINNING OF PERIOD                               $887,800

RECEIPTS
  ASSESSMENTS                                           286,164
  ANNUAL APPEAL                                         971,546
  INSURANCE PREMIUMS                                    858,429
  OTHER OPERATING                                       955,748
                                                    -----------
  TOTAL RECEIPTS                                      3,071,887

DISBURSEMENTS
  NET PAYROLL AND TAXES                                 214,061
  INSURANCE PAYMENTS                                    871,009
  OPERATING EXPENSES                                    139,382
  OTHER                                                 375,605
  PROFESSIONAL FEES                                           -
  U.S. TRUSTEE QUARTERLY FEES                            13,000
  COURT COSTS                                                 -
                                                    -----------
TOTAL DISBURSEMENTS                                   1,613,057
                                                    -----------
NET CASH FLOW                                         1,458,830

Transfers out                                           656,010
Transfers in                                                  -
Other transfers/returns/fees                                  -
                                                    -----------
CASH - END OF PERIOD                                 $1,690,620
                                                    ===========

                  About the Diocese of Wilmington

The Diocese of Wilmington covers Delaware and the Eastern Shore
of Maryland and serves about 230,000 Catholics.  The Delaware
diocese is the seventh Roman Catholic diocese to file for Chapter
11 protection to deal with lawsuits for sexual abuse.  Previous
filings were by the dioceses in Spokane, Washington; Portland,
Oregon; Tucson, Arizona; Davenport, Iowa, Fairbanks, Alaska; and
San Diego, California.

The Diocese filed for Chapter 11 protection (Bankr. D.
Del. Case No. 09-13560) on Oct. 18, 2009.  Attorneys at Young
Conaway Stargatt & Taylor, LLP, serve as counsel to the Diocese.
The Ramaekers Group, LLC, is the financial advisor.  The petition
says assets range $50 million to $100 million while debts are
between $100 million to $500 million.

The bankruptcy filing automatically stayed eight consecutive abuse
trials scheduled in Delaware scheduled to begin Oct. 19, 2009.
There were 131 cases filed against the Diocese, with 30 scheduled
for trial, as of the bankruptcy filing.

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


LEHMAN BROTHERS: Now Has $23.48 Billion in Cash
-----------------------------------------------
Lehman Brothers Holdings Inc. disclosed these cash receipts and
disbursements of the company, its affiliated debtors and other
controlled entities for the month ended May 31, 2011:

Beginning Cash & Investments (05/01/11)  $22,951,000,000
Total Sources of Cash                      2,957,000,000
Total Uses of Cash                        (2,424,000,000)
FX Fluctuation                                (7,000,000)
                                          ---------------
Ending Cash & Investments (05/31/11)     $23,477,000,000

LBHI reported $2.068 billion in cash and investments as of May 1,
2011, and $3.762 billion as of May 31, 2011.

The monthly operating report also showed that a total of
$54,257,000 was paid to professionals that were retained in the
Debtors' Chapter 11 cases in the past month.

From September 15, 2008 to May 31, 2011, a total of
$1,317,091,000 was paid to professionals, of which $442,196,000
was paid to the Debtors' turnaround manager, Alvarez & Marsal
LLC, while $309,808,000 was paid to their bankruptcy counsel,
Weil Gotshal & Manges LLP.

A full-text copy of the May 2011 Operating Report is available
for free at http://bankrupt.com/misc/LehmanMORMay3111.pdf

                    About Lehman Brothers

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

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

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

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

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

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

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

               International Operations Collapse

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

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

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


MSR RESORT: Posts $8.44MM Net Loss Before Reorganization Items
--------------------------------------------------------------
MSR Resort Golf Course LLC, et al., filed on June 28, 2011, with
the U.S. Bankruptcy Court for the Southern District of New York
its monthly operating report for the month ended May 31, 2011.

The Debtors reported a net loss of $9.16 million on total revenue
of $38.10 million for the month ended April 30, 2011.  Net loss
from continuing operations was $8.44 million.  Reorganization
expenses totaled $717,135 for the month, which consisted primarily
of professional fees associated with the Chapter 11 cases.

The Debtors' combined condensed balance sheet showed
$2.184 billion in total assets, $1.921 billion in total
liabilities, and partners' capital of $262.9 million.

A copy of the operating report is available at:

        http://bankrupt.com/misc/msrresort.may2011mor.pdf

                        About MSR Resort

MSR Hotels & Resorts, formerly known as CNL Hotels & Resorts Inc.,
owns a portfolio of eight luxury hotels with over 5,500 guest
rooms, including the Arizona Biltmore Resort & Spa in Phoenix, the
Ritz-Carlton in Orlando, Fla., and Hawaii's Grand Wailea Resort
Hotel & Spa in Maui.

On Jan. 28, 2011, CNL-AB LLC acquired the equity interests in the
portfolio through a foreclosure proceeding.  CNL-AB LLC is a joint
venture consisting of affiliates of Paulson & Co. Inc., a joint
venture affiliated with Winthrop Realty Trust, and affiliates of
Capital Trust, Inc.

Morgan Stanley's CNL Hotels & Resorts Inc. owned the resorts
before the Jan. 28 foreclosure.

Following the acquisition, five of the resorts with mortgage debt
scheduled to mature on Feb. 1, 2011, were sent to Chapter 11 by
the Paulson and Winthrop joint venture affiliates.  MSR Resort
Golf Course LLC and its affiliates filed for Chapter 11 protection
(Bankr. S.D.N.Y. Lead Case No. 11-10372) in Manhattan on Feb. 1.
The resorts subject to the filings are Grand Wailea Resort and
Spa, Arizona Biltmore Resort and Spa, La Quinta Resort and Club
and PGA West, Doral Golf Resort and Spa, and Claremont Resort and
Spa.

James H.M. Sprayregen, P.C., Esq., Paul M. Basta, Esq., Edward O.
Sassower, Esq., and Chad J. Husnick, Esq., at Kirkland & Ellis,
LLP, serve as the Debtors' bankruptcy counsel.  Houlihan Lokey
Capital, Inc., is the Debtors' financial advisor.  Kurtzman Carson
Consultants LLC is the Debtors' claims agent.

The five resorts had $2.2 billion in assets and $1.9 billion in
debt as of Nov. 30, 2010, according to court filings.  In its
schedules, debtor MSR Resort disclosed $59,399,666 in total assets
and $1,013,213,968 in total liabilities.


NORTEL NETWORKS: Ends May 2011 With $999 Million Cash
-----------------------------------------------------
Nortel Networks Inc. reported a net loss of $6.0 million for the
month ended May 31, 2011.  Loss from continuing operations before
reorganization items, income taxes and equity in net earnings
(loss) of associated companies was $2.0 million.

Nortel Networks Inc. ended May 2011 with $999.0 million in cash
and cash equivalents, as compared to $995.0 million at the
beginning of the month.

As of May 31, 2011, Nortel Networks Inc. had $1.448 billion
in total assets, $5.771 billion in total liabilities, and a
stockholders' deficit of $4.323 billion.

A copy of the May 2011 monthly operating report is available at:

           http://bankrupt.com/misc/NNI.may2011mor.pdf

                      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.


RASER TECHNOLOGIES: Posts $1.46 Million Net Loss in May 2011
------------------------------------------------------------
On June 29, 2011, Raser Technologies, Inc., et al., filed their
monthly operating report for May 2011 with the U.S. Bankruptcy
Court for the District of Delaware.

The Debtor reported a net loss of $1.46 million on $380,056 of
revenues for the month.

The Debtors' balance sheet at May 31, 2011, showed $40.22 million
in total assets, $114.74 million in total liabilities, and a
stockholders' deficit of $74.52 million.

A copy of the operating report is available at http://is.gd/dCftZR

                     About Raser Technologies

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.

Provo, Utah-based Raser Technologies, Inc., also known as Wasatch
Web Advisors, Inc., filed for Chapter 11 protection (Bankr. D.
Del. Case No. 11-11315) on April 29, 2011.

Other Debtor affiliates filed for separate Chapter 11 protection
on April 29, 2011,  (Bankr. Case Nos. 11-11319 - 11-11350).
Peter S. Partee, Sr., Esq., and Richard P. Norton, Esq., at Hunton
& Williams LLP represent the Debtors in their restructuring
efforts.  The Debtors' local counsel is Bayard, P.A.  Sichenzia
Ross Friedman Ference LLP serves as the Debtors' corporate
counsel.  The Debtors' financial advisor is Canaccord Genuity.


TRIBUNE CO: Has $20,074,000 Net Income in May 2011
--------------------------------------------------

                        Tribune Company, et al.
                   Condensed Combined Balance Sheet
                          As of May 22, 2011

ASSETS
Current Assets:
  Cash and cash equivalents                     $1,145,913,000
  Accounts receivable, net                         454,403,000
  Inventories                                       22,777,000
  Broadcast rights                                 189,722,000
  Prepaid expenses and other                       218,239,000
                                              ----------------
Total current assets                             2,031,054,000

Property, plant and equipment, net                 935,426,000

Other Assets:
  Broadcast rights                                 108,054,000
  Goodwill & other intangible assets, net          782,380,000
  Prepaid pension costs                              2,112,000
  Investments in non-debtor units                1,525,681,000
  Other investments                                 38,841,000
  Intercompany receivables from non-debtors      3,094,967,000
  Restricted cash                                  726,585,000
  Other                                             81,270,000
                                              ----------------
Total Assets                                    $9,326,370,000
                                              ================
LIABILITIES & SHAREHOLDERS' EQUITY (DEFICIT)

Current Liabilities:
  Current portion of broadcast rights             $115,029,000
  Current portion of long-term debt                  3,603,000
  Accounts payable, accrued expenses, and other    412,537,000
                                              ----------------
Total current liabilities                          531,169,000

Pension obligations                                230,440,000
Long-term broadcast rights                          77,386,000
Long-term debt                                       5,701,000
Other obligations                                  176,595,000
                                              ----------------
Total Liabilities                                1,021,291,000

Liabilities Subject to Compromise:
  Intercompany payables to non-debtors           3,459,117,000
  Obligations to third parties                  13,080,751,000
                                              ----------------
Total Liabilities Subject to Compromise         16,539,868,000

Shareholders' Equity (Deficit)                  (8,234,789,000)
                                              ----------------
Total Liabilities & Shareholders' Equity
(Deficit)                                      $9,326,370,000
                                              ================

                   Tribune Company, et al.
        Condensed Combined Statement of Operations
        For the Period From Apr. 25 to May 22, 2011

Total Revenue                                     $237,443,000

Operating Expenses:
  Cost of sales                                    126,009,000
  Selling, general and administrative               71,918,000
  Depreciation                                      10,229,000
  Amortization of intangible assets                  1,113,000
                                              ----------------
Total operating expenses                           209,269,000
                                              ----------------
Operating Profit (Loss)                             28,174,000
                                              ----------------
Income (loss) on equity investments, net             1,218,000
Interest expense, net                               (3,328,000)
Management fee                                      (1,406,000)
Non-operating income (loss), net                             -
                                              ----------------
Income (loss) before income taxes & Reorg.
Costs                                              24,658,000
Reorganization costs                                (4,046,000)
                                              ----------------
Income (loss) before income taxes                   20,612,000
Income taxes                                          (538,000)
                                              ----------------
Income (loss) from continuing operations            20,074,000
Income from discontinued operations, net of tax              0
                                              ----------------
Net Income (Loss)                                  $20,074,000
                                              ================

                  Tribune Company, et al.
          Combined Schedule of Operating Cash Flow
        For the Period From Apr. 25 to May 22, 2011

Beginning Cash Balance                          $1,847,083,000

Cash Receipts:
  Operating receipts                               230,480,000
  Other                                                      -
                                              ----------------
Total Cash Receipts                                230,480,000

Cash Disbursements
  Compensation and benefits                         76,823,000
  General disbursements                            125,868,000
  Reorganization related disbursements               8,153,000
                                              ----------------
Total Disbursements                                210,844,000
                                              ----------------
Debtors' Net Cash Flow                              19,636,000
                                              ----------------
From/(To) Non-Debtors                                3,408,000
                                              ----------------
Net Cash Flow                                       23,044,000
Other                                                 (117,000)
                                              ----------------
Ending Available Cash Balance                   $1,870,011,000
                                              ================

                        About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection on December 8, 2008 (Bankr. D. Del. Lead Case No. 08-
13141).  The Debtors proposed Sidley Austin LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. And Alvarez & Marsal North America LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of December 8, 2008, the Debtors have $7,604,195,000 in total
assets and $12,972,541,148 in total debts.  Chadbourne & Parke LLP
and Landis Rath LLP serve as co-counsel to the Official Committee
of Unsecured Creditors.  AlixPartners LLP is the Committee's
financial advisor.  Landis Rath Moelis & Company serves as the
Committee's investment banker.  Thomas G. Macauley, Esq., at
Zuckerman Spaeder LLP, in Wilmington, Delaware, represents the
Committee in connection with the lawsuit filed against former
officers and shareholders for the 2007 LBO of Tribune.

Bankruptcy Creditors' Service, Inc., publishes Tribune Bankruptcy
News.  The newsletter tracks the chapter 11 proceeding undertaken
by Tribune Company and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


TROPICANA ENT: Adamar of NJ Has $2.45-Mil. Cash at May 31
---------------------------------------------------------

               Adamar of NJ In Liquidation, LLC
                  Consolidated Balance Sheets
                       As of May 31, 2011

                             ASSETS

Current Assets
Cash and cash equivalents                          $2,447,000
Receivables, gaming, hotel and other, net                   0
Inventories                                                 0
Prepaid expenses and other                                  0
Deferred income taxes                                       0
                                                --------------
Total current assets                                 2,447,000

Property and equipment, at cost, net                         0

Investments                                                  0
Tenant allowances and other assets                           0
                                                --------------
TOTAL ASSETS                                        $2,447,000
                                                ==============

              LIABILITIES AND SHAREHOLDERS' EQUITY

Current Liabilities
Accounts payable and accruals                        $473,000
Accrued payroll and employee benefits                       0
Current portion of long-term debt                           0
Casino reinvestment obligation                              0
Advances from TE and other affiliates, net                  0
Advances from NJ affiliates, net                            0
Other current liabilities                                   0
Liabilities subject to compromise                   9,560,000
                                                --------------
Total current liabilities                           10,034,000

Long-term debt, net of current portion                       0
Deferred income taxes                                        0
                                                --------------
Total Liabilities                                   10,034,000

Stockholders' Equity
Common stock, no par value (100 shares                      0
   authorized, issued and outstanding)
Paid-in capital                                             0
Accumulated deficit                                (7,587,000)
                                                --------------
Total shareholders' equity                          (7,587,000)
                                                --------------
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY            $2,447,000
                                                ==============


               Adamar of NJ In Liquidation, LLC
             Consolidated Statements of Operations
                For the Month Ended May 31, 2011

Revenues
Casino                                                     $0
Rooms                                                       0
Food and beverage                                           0
Other                                                       0
                                                --------------
Total revenues                                               0
                                                --------------

Costs and Expenses
Casino                                                      0
Rooms                                                       0
Food and beverage                                           0
Other                                                       0
Marketing                                                   0
General and administrative                                  0
Utilities                                                   0
Repairs and maintenance                                     0
Provision for doubtful accounts                             0
Property taxes and insurance                                0
Rent                                                        0
Rent to New Jersey affiliate                                0
Depreciation and amortization                               0
Reorganization expense                                 70,000
                                                --------------
Total                                                   70,000

Operating profit (loss)                                (70,000)

License denial expense                                       0
Interest income, net                                     1,000
Interest expense                                             0
                                                --------------
Income before income taxes                             (70,000)
Income taxes benefit/(provision)                             0
                                                --------------
NET (LOSS)                                            ($70,000)
                                                ==============


               Adamar of NJ In Liquidation, LLC
                          Cash Flows
               For the Month Ended May 31, 2011


Beginning cash                                       $2,633,000

Disbursements:
Claims settlement                                           0
Professional fees disbursements                       186,000
Transfer to Tropicana Entertainment                         0
UST fees                                                1,000
                                                --------------
Total disbursements                                    187,000

Interest income                                          1,000
                                                --------------
Ending Cash                                         $2,447,000
                                                ==============

                   About Tropicana Entertainment

Tropicana Entertainment Inc. is a publicly reporting company that,
along with its affiliates, owns or operates nine casinos and
resorts in Indiana, Louisiana, Mississippi, Nevada and New Jersey.
The Company owns approximately 6,000 rooms, 9,000 slot positions
and 250 table games.  In addition, the Company owns a development
property in Aruba.  The company is based in Las Vegas, Nevada.

Tropicana Entertainment LLC and certain affiliates filed for
Chapter 11 protection on May 5, 2008 (Bankr. D. Del. Case No. 08-
10856).  Kirkland & Ellis LLP and Mark D. Collins, Esq., at
Richards Layton & Finger, represent the Debtors in their
restructuring efforts.  Their financial advisor is Lazard Ltd.
Their notice, claims, and balloting agent is Kurtzman Carson
Consultants LLC.  Epiq Bankruptcy Solutions LLC is the Debtors'
Web site administration agent.  AlixPartners LLP is the Debtors'
restructuring advisor.  Stroock & Stroock & Lavan LLP and Morris
Nichols Arsht & Tunnell LLP represent the Official Committee of
Unsecured Creditors in this case.  Capstone Advisory Group LLC is
financial advisor to the Creditors' Committee.

The OpCo Debtors, a group of Tropicana entities owning casinos and
resorts in Atlantic City, New Jersey and Evansville, Indiana
obtained confirmation from the Bankruptcy Court of a
reorganization plan.  On April 29, 2009, non-debtor units of the
OpCo Debtors, designated as the New Jersey Debtors -- Adamar of
New Jersey, Inc., and its affiliate, Manchester Mall, Inc. --
filed for Chapter 11 (Bankr. D. N.J. Lead Case No. 09- 20711) to
effectuate a sale of the Atlantic City Resort and Casino to a
group of Investors-led by Carl Icahn.   Judge Judith H. Wizmur
presides over the cases.  Manchester Mall is a wholly owned
subsidiary of Adamar that owns and operates certain real property
utilized in the New Jersey Debtors' business operations.
Effective March 8, Tropicana Entertainment successfully emerged
from the Chapter 11 reorganization process as an Carl Icahn-owned
entity.

A group of Tropicana entities, known as the LandCo Debtors, which
own Tropicana casino property in Las Vegas, have obtained approval
of a separate Chapter 11 plan.

Ilana Volkov, Esq., and Michael D. Sirota, Esq., at Cole, Schotz,
Meisel, Forman & Leonard, in Hackensack, New Jersey, represented
the New Jersey Debtors.  Kurtzman Carson Consultants LLC acts as
their claims and notice agent.  Adamar disclosed $500 million to
$1 billion both in total assets and debts in its petition.
Manchester Mall disclosed $1 million to $10 million in total
assets, and less than $50,000 in total debts in its petition.

Debtors Adamar of New Jersey Inc. and Manchester Mall Inc. have
merged into Adamar of NJ In Liquidation, LLC.  The merger and name
change is in accordance with an Amended and Restated Purchase
Agreement, which governs the sale and transfer of the operations
of the Tropicana Casino and Resort - Atlantic City, including
substantially all of the New Jersey Debtors' assets, to Tropicana
Entertainment Inc., Tropicana Atlantic City Corp., and Tropicana
AC Sub Corp., free and clear of any and all liens, claims and
encumbrances.

Bankruptcy Creditors' Service, Inc., publishes Tropicana
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Tropicana Entertainment Inc. and its debtor-affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


WASHINGTON MUTUAL: Ends May 2011 With $4.51 Billion Cash
--------------------------------------------------------
On June 30, 2011, Washington Mutual, Inc., and WMI Investment
Corp. filed their monthly operating report for May 2011 with
the United States Bankruptcy Court for the District of Delaware.

Washington Mutual reported a net loss of $20.69 million for the
period.

At May 31, 2011, Washington Mutual had $6.749 billion in
total assets, $8.380 billion in total liabilities, and a
shareholders' deficit of $1.631 billion.  Washington Mutual ended
May 2011 with $4.510 billion in unrestricted cash and cash
equivalents.  Washington Mutual paid a total of $1.64 million in
professional fees and reimbursed a total of $78,733.40 in
professional expenses in May.

WMI Investment reported a net loss of $23,353 for the month of
May.

At May 31, 2011, WMI Investment had $921.291 million in total
assets, $14,825 in post-petition liabilities, and a stockholders'
equity of $921.27 million.  WMI Investment ended May with
$276.35 million in cash and cash equivalents.

A copy of the operating report is available at http://is.gd/AA8TH4

                   About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- is a holding company for Washington Mutual
Bank as well as numerous non-bank subsidiaries.

Washington Mutual Bank was taken over on Sept. 25, 2008, by U.S.
government regulators.  The next day, WaMu and its affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  WaMu owns
100% of the equity in WMI Investment.  When WaMu filed for
protection from its creditors, it disclosed assets of
$32,896,605,516 and debts of $8,167,022,695.  WMI Investment
estimated assets of $500 million to $1 billion with zero debts.

WaMu is represented by Brian Rosen, Esq., at Weil, Gotshal &
Manges LLP in New York City; Mark D. Collins, Esq., at Richards,
Layton & Finger P.A. in Wilmington, Del.; and Peter Calamari,
Esq., and David Elsberg, Esq., at Quinn Emanuel Urquhart Oliver &
Hedges, LLP.  The Debtor tapped Valuation Research Corporation as
valuation service provider for certain assets.

Fred S. Hodara, Esq., at Akin Gump Strauss Hauer & Fled LLP in New
York and David B. Stratton, Esq., at Pepper Hamilton LLP in
Wilmington, Del., represent the Official Committee of Unsecured
Creditors.  Stephen D. Susman, Esq., at Susman Godfrey LLP and
William P. Bowden, Esq., at Ashby & Geddes, P.A., represent the
Equity Committee.  The official committee of equity security
holders also tapped BDO USA as its tax advisor. Stacey R.
Friedman, Esq., at Sullivan & Cromwell LLP and Adam G. Landis,
Esq., at Landis Rath & Cobb LLP in Wilmington, Del., represent
JPMorgan Chase, which acquired the WaMu bank unit's assets prior
to the Petition Date.

On Jan. 7, 2011, the U.S. Bankruptcy Court for the District of
Delaware entered a 107-page opinion determining that the global
settlement agreement, among certain parties including WMI, the
Federal Deposit Insurance Corporation and JPMorgan Chase Bank,
N.A., upon which the Plan is premised, and the transactions
contemplated therein, are fair, reasonable, and in the best
interests of WMI.  Additionally, the Opinion and related order
denied confirmation, but suggested certain modifications to the
Company's Sixth Amended Joint Plan of Affiliated Debtors that, if
made, would facilitate confirmation.

Washington Mutual has filed with the Bankruptcy Court a Modified
Sixth Amended Joint Plan and a related Supplemental Disclosure
Statement.  The Company believes that the Modified Plan has
addressed the Bankruptcy Court's concerns and looks forward to
returning to the Bankruptcy Court to seek confirmation of the
Modified Plan.


WOLVERINE TUBE: Posts $116,436 Net Loss in May 2011
---------------------------------------------------
Wolverine Tube, Inc., et al., reported a net loss of $116,436 on
$30.17 million of total revenue for all debtors in May 2011.

As of May 31, 2011, the Debtors reported $120.31 million in total
assets, $244.76 million in total liabilities, and a stockholders'
deficit of $124.45 million.

A copy of the May 2011 monthly operating report is available at:

      http://bankrupt.com/misc/wolverinetube.may2011mor.pdf

                       About Wolverine Tube

Huntsville, Alabama-based Wolverine Tube, Inc., is a global
manufacturer and distributor of copper and copper alloy tube,
fabricated products, and metal joining products.  The Company
currently operates seven facilities in the United States, Mexico,
China, and Portugal.  It also has distribution operations in the
Netherlands and the United States.

Wolverine Tube sought Chapter 11 bankruptcy protection (Bankr. D.
Del. Case No. 10-13522) on Nov. 1, 2010.  Mark E. Felger, Esq.,
and Simon E. Fraser, Esq., at Cozen O'Connor represent the Debtor.
Scott K. Rutsky, Esq., and Adam T. Berkowitz, Esq., at Proskauer
Rose LLP, serve as the Debtor's special corporate and tax counsel.
Deloitte Financial Advisory Services LLP is the Debtor's financial
advisor.  Donlin Recano & Company, Inc., is the Debtor's claim
agent.  The Debtor disclosed $115 million in total assets and
$237 million in total debts at the time of the filing.

Affiliates Tube Forming, L.P. (Bankr. D. Del. Case No. 10-13523),
Wolverine Joining Technologies, LLC (Bankr. D. Del. Case No.
10-13524), TF Investor Inc. (Bankr. D. Del. Case No. 10-13525),
and WT Holding Company, Inc. (Bankr. D. Del. Case No. 10-13526)
filed separate Chapter 11 petitions.

No official committee of unsecured creditors has been appointed in
the case.

The Debtors filed a prearranged Chapter 11 plan proposing to pay
unsecured creditors in full and turning ownership of the
reorganized company over to their noteholders.

As reported in the TCR on June 14, 2011, Wolverine Tube filed with
the U.S. Bankruptcy Court a designation for its First Amended
Joint Plan of Reorganization, identifying the officers and
directors of the reorganized Debtors.  BankruptcyData.com says the
Court also issued a ruling confirming the First Amended Joint Plan
of Reorganization, as Modified, of Wolverine Tube and its
affiliated Debtors.

As reported in the TCR on Jun 29, 2011, Wolverine Tube emerged
from Chapter 11 bankruptcy protection effective June 28, 2011,
pursuant to a Plan of Reorganization approved by the U.S.
Bankruptcy Court for the District of Delaware.


                           *********

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.


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