TCR_Public/110721.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

            Thursday, July 21, 2011, Vol. 15, No. 200

                            Headlines

4KIDS ENTERTAINMENT: Pending Yu-Gi-Oh! Case, Asks More Plan Time
4KIDS ENTERTAINMENT: Wants Until Nov. 4 to Decide on HQ Lease
4KIDS ENTERTAINMENT: Taps EisnerAmper as Auditor & Tax Advisor
ACADEMY LTD: S&P Assigns Preliminary 'B' Corporate Credit Rating
ACCURIDE CORP: Acquires Forgitron for $22 Million

AIRPARK VILLAGE: Has Problems With Plan, Seeks Dismissal
ALL YOU, LLC: Confirmation Hearing on Competing Plans on Aug. 24
AMBAC FINANCIAL: Has Court Nod of $27-Mil. Securities Settlement
AMBAC FINANCIAL: Hopes to Reach Deal With OCI on Chapter 11 Plan
AMBAC FINANCIAL: K. Veera Wants to Lift Stay to Continue Suit

AMBAC FINANCIAL: Wins OK for Lathrop as Counsel for OCI Issues
AMERICAN SAFETY: Wins Nod for Dismissal of Chapter 11 Case
AMTRUST FINANCIAL: Unit Settles Ex-Banker's FLSA Suit
AREK FRESSADI: Court Rejects Conversion, Orders Dismissal
AUG FUNDING: Case Summary & 14 Largest Unsecured Creditors

AUTONATION INC: S&P Raises Corporate Credit Rating From 'BB+'
AUTOS VEGA: Sec. 341 Creditors' Meeting Set for Aug. 15
AUTOS VEGA: Files Application for McConnell Valdes as Counsel
AUTOS VEGA: Wants to Employ L. Carrasquillo Ruiz as Accountant
BERNARD L MADOFF: Trustee Can Dole Out From $7.6 Billion

BERNARD L MADOFF: $7.2-Bil. Picower Deal Sent to 2nd Circuit
BLACK CROW: $1.5-Mil. DIP Loans Extended for One Year
BLOCKBUSTER INC: Judge Approves Bonus for Remaining Executive
BLOSSOM VALLEY: Court Confirms Reorganization Plan
BOISE COUNTY, IDAHO: Ruling Upcoming on Municipal Filing

BREMERTON AMERICAN: Chapter 7 Auction for All Assets on Aug. 4
BROOKE CORP: Lynch Succeeds in Dismissing Case vs Franchisees
CASA GRANDE: Files List of 20 Largest Unsecured Creditors
CASA GRANDE: Sec. 341 Creditors' Meeting Set for August 9
CASA GRANDE: Wins Approval for Polsinelli Shughart as Counsel

CASA GRANDE: Wants to Use Beal Bank's Cash Collateral
CATHOLIC CHURCH: Wilm. Needs to Borrow $10 Mil. to Fund Plan
CHEYENNE HOTEL: Receiver Ordered to Turn Over Colorado Property
CHICKEN OUT: Restaurants Remain Open Despite Ch. 11 Filing
CLEAR CREEK: Case Summary & 20 Largest Unsecured Creditors

COMPOSITE TECHNOLOGY: Taps Mentor Group as Valuation Advisor
CONTESSA PREMIUM: Asks for More Time to File Liquidating Plan
CONTESSA PREMIUM: Wants Until Oct. 31 to Decide on Office Lease
CONTESSA PREMIUM: Hires Ernst & Young LLP as Accounting Advisors
CRUSADER BRAND:: Highland Gives 3 Years to Return Frozen Funds

CRYSTAL CATHEDRAL: Gets Judge's OK to Consider New Buyers
CUMULUS MEDIA: Moody's Rates Proposed 2nd Lien Notes 'B2'
DUKE AND KING: Has Yet to Decide on Two Leases
ELEPHANT & CASTLE: Has Until July 28 to Files Schedules
ELEPHANT CASTLE: Seeks to Tap Rose Group as Litigation Counsel

EMIVEST AEROSPACE: 363 Sale of Assets Completed
EMIVEST AEROSPACE: Sale Price to Dictate Terms of Ch. 11 Plan
EVERGREEN PLAZA: Has Until Aug. 12 to File Schedules & Statements
EVERGREEN PLAZA: Ch. 11 Case Transferred to Judge Geraldine Mund
EVERGREEN PLAZA: Meeting of Creditors on Aug. 23

EXCO RESOURCES: S&P Affirms 'BB-' Corporate Credit Rating
FGIC CORP: New Plan Proposal Deadline Expires Oct. 1
FILI ENTERPRISES: Wants Dismissal After Splitting Sale Proceeds
FORGITRON LLC: Kamylon Sells Business for $22-Mil. to Accuride
FREE AND CLEAR: U.S. Trustee Wants MORs & Fees Before Dismissal

FREECREST INVESTMENTS: Suit v. PrivateBank Remanded to State Court
GENE HARDWICK: Meeting of Creditors Today
GENERAL MOTORS: Kansas Court Dismisses Creamer Tort Suit
GLC LIMITED: Suit Accuses Donnans of Profiting from Ponzi Scheme
GOLDEN BEAR: Case Summary & 8 Largest Unsecured Creditors

GREATER AMERICAN LAND: Brick Township Claim Unaffected by Ch. 11
GREEN PLANET: Semple Marchal Raises Going Concern Doubt
GREENWOOD RACING: Moody's Reviews Ratings for Possible Downgrade
GSC GROUP: Non-Controlling Lender Group Files Plan
HARRISBURG, PENNSYLVANIA: Agrees to Some Rescue Plan Changes

HARRY & DAVID: Pension-Plan Termination Hearing Delayed by PBGC
HELLER EHRMAN: Settles Fee Dispute With Katz Technology
HERTZ CORPORATION: Moody's Reviews 'B1' Rating for Downgrade
HOTI ENTERPRISES: Trustee Wants Chapter 11 Case Dismissed
HUCKLEBERRY PARTY: Fails to Show Plan, Case Converted to Ch. 7

ICON HEALTH: S&P Raises Corporate Credit Rating to 'B+'
IRWIN MORTGAGE: Asks Court to Approve Bailey Cavalieri Hiring
IRWIN MORTGAGE: Hires Development Specialists for Wind-Down
JACKSON ENERGY: Files for Chapter 7  Liquidation
JAMES DONNAN: Faces Suit Over GLC Ltd. Ponzi Scheme

JEFFERSON, AL: Commissioners to Talk With Chapter 9 Expert Klee
LAKE TAHOE DEV'T: Plan Outline Approved; Voting Until Aug. 16
LANDAMERICA FINANCIAL: Trustee Seeks $365-Mil. from Executives
LANDAMERICA FINANCIAL: Former Executives Fight Tolling Agreement
LAS VEGAS MONORAIL: To Present Plan for Confirmation Sept. 16

LEHMAN BROTHERS: FINRA Awards $5MM Damages Against Neuberger
LIMESTONE FURNITURE: BBB Encourages Creditors to File Claim
LINDEN PONDS: Lighting Plant Won't Cut Off Electricity Supply
LODGE AT BIG SKY: Chapter 7 Trustee Strikes Deal to Sell Condos
LOS ANGELES DODGERS: Committee Wants Highbridge Lien, Fees Cut

LOS ANGELES DODGERS: Hiding Details of $150M Loan, Says US Trustee
LOS ANGELES DODGERS: Sought Goldman, BofA & Time Warner for Loan
LOWER BUCKS: Has Bucks County-Backed Reorganization Plan
LUXURY VENTURES: Silverio & Hall Can't Collect Fees From Trustee
MAHAMMAD QURESHI: Forced to Seek Ch. 11 Due to Guarantees

MAJESTIC CAPITAL: Committee Wants to Hire J.H. Cohn as Advisors
MAJESTIC CAPITAL: Creditors Committee Taps Jager Smith as Counsel
MARITIME STEEL: Prosecution of 2009 Death at Firm in Limbo
MAX & ERMA'S: Adds Restaurant Locations After Bankruptcy Purchase
MCBURNEY CORP: Business as Usual While in Chapter 11

MT. VERNON: Case Summary & 21 Largest Unsecured Creditors
MTR GAMING: S&P Withdraws Preliminary 'B-' Issue-Level Rating
MUNIRAJ ENTERPRISES: Case Summary & 8 Largest Unsecured Creditors
N.A. PETROLEUM: Curtis Okayed as Equity Panel Counsel
N.A. PETROLEUM: Young Conaway OK'd as Co-Counsel to Equity Panel

NEBRASKA BOOK: Files Plan for Pre-Filing Swap Deal
NEBRASKA BOOK: Creditors Object to Rothschild, DIP Loans
NIGRO HQ LLC: Seeks to Access Cash to Keep Operations Afloat
NORTEL NETWORKS: Pensioners to Face Average 18% Cut in Benefits
NORTEL NETWORKS: Canadian Government Won't Review Patent Sale

NURSERYMEN'S EXCHANGE: Court OKs Sale of Assets to Floramoda
OLSEN AGRICULTURAL: Gets Court Okay to Tap Weatherford Thompson
OLSEN AGRICULTURAL: Seeks to Employ Agri-Business as Broker
OM GROUP: S&P Affirms Corporate Credit Rating at 'BB-'
OPTI CANADA: CNOOC to Buy Operations for $2.1 Billion

PACIFIC DEVELOPMENT: Plan Provides Development of Heritage Village
PALM HARBOR: Exclusive Period to File Plan Extended to July 28
PARMATOWN MALL: Midland Seeks Receiver for Mall
PERKINS & MARIE: To Close 58 Stores As Part of Restructuring
PERKINS & MARIE: Committee Taps FTI Consulting as Fin'l Advisor

PETRA FUND: Plan Outline Hearing Adjourned Until August 31
PRE-PAID LEGAL: S&P Assigns 'B' Corp. Credit Rating After LBO
PRM SMITH: To Present Plan for Confirmation on July 27
RAM-KRUPA INC: Case Summary & 21 Largest Unsecured Creditors
RANDOLPH TOWERS: Debit Restraint Doesn't Violate Automatic Stay

RCC NORTH: Confirmation Hearing on U.S. Bank Plan Set for July 27
RCC NORTH: Gets Court Nod for Cash Collateral Use Thru July 31
RCC NORTH: Wants to Use Cash Collateral to Pay CDMdata Dues
RCC SOUTH: Confirmation Hearing to Push Through on Aug. 22
RENAISSANCE SURGICAL: Sept. 1 Status Hearing in Involuntary Case

SABRE HOLDINGS: S&P Affirms 'B' Corporate Credit Rating
SAMSHI HOMES: Court Denies Cash Collateral Use
SBARRO INC: Gets Court OK to Hire DJM as Real Estate Consultant
SEARS HOLDINGS: Moody's Downgrades CFR to Ba3; Outlook Negative
SEARS ROEBUCK: Says It Owns Worker's OT Suit, Wants It Tossed

SENTINEL MANAGEMENT: First Horizon Seeks $25MM Coverage for Suits
SIGNATURE STYLES: Gets Court OK to Tap Western Reserve as Banker
STELLEX MICROWAVE: Ruling Issued in Mission West-Republic Dispute
STEPHEN YELVERTON: Court Rejects Bid to Vacate Discharge Order
STRATEGIC PARTNERS: Founder Loses Bid to Vacate Sentence

SUN-TIMES MEDIA: Files Modified Plan of Liquidation
SUNNYLAND USA: Case Summary & 7 Largest Unsecured Creditors
TAYLOR BEAN: Freddie Mac Balks at Deal with Bank of America
TC GLOBAL: Incurs $1.06-Mil. Net Loss in Q4 Ended April 3
TECHDYNE LLC: U.S. Trustee Unable to Form Committee

TERRESTAR NETWORKS: Unsecureds Sue to Recharacterize Some Claims
TETON AIR: Voluntary Chapter 11 Case Summary
TOKIO MARINE: Seeks Recognition of U.K. Bankruptcy Cases
TOKIO MARINE: Chapter 15 Case Summary
TOWNSENDS INC: Reviewing Claims; Wants More Exclusivity

TRIKEENAN TILEWORKS: Rival's Takeover Plan Done in Good Faith
TRONOX INC: Judge Denies Anadarko Loses Bid to Split Spinoff Suit
TUBO DE PASTEJE: Schedules Aug. 25 Plan Confirmation
ULTIMATE ACQUISITION: Texas Comptroller Wants $5-Mil. Fees Denied
UNIGENE LABORATORIES: Owns 20% of Tarsa Therapeutics

UNITED GILSONITE: Wants Plan Filing Extended to January 17
UNITED GILSONITE: Committee Seeks to Retain Legal Analysis
US COAL: S&P Assigns Preliminary 'B' Corporate Credit Rating
U.S. CORP: Involuntary Chapter 11 Case Dismissed
VITARIS REHABILITATION: Files for Chapter 11 to Sell Business

WASHINGTON MUTUAL: Aurelius Defends Own Protocol at Confirmation
WATERSCAPE RESORT: Clears Way to Exit from Bankruptcy
WOODS CANYON: Sec. 341 Creditors' Meeting Set for Aug. 18

* Bill Aims to Stop NY and Del. Hosting Most Corporate Filings
* Bankruptcy Code Unclear for Financial Companies, GAO Says
* Professor Says Vitro SAB Setting "Ugly Precedent"

* Liquidity Stress on Junk Companies Declined in June
* New Orleans Tops List of Cities With Most Closed Businesses

* Possible Conflicts Bar Some Law Firms From Mortgage Reviews

* Adrian Harris Joins Brown Rudnick's European Office as Partner
* Bostrom to Co-Head SNR's Fin'l Institutions & Funds Sector
* Gary Talarico Joins Gordon Brothers Group as President and CEO

* Recent Small-Dollar & Individual Chapter 11 Filings


                            *********


4KIDS ENTERTAINMENT: Pending Yu-Gi-Oh! Case, Asks More Plan Time
----------------------------------------------------------------
4 Kids Entertainment Inc. and its debtor-affiliates ask the U.S.
Bankruptcy Court for the Southern District of New York to further
extend their exclusive periods to:

  (a) file a Chapter 11 plan from Aug. 4, 2011, to Nov. 4, 2011;
      and

  (b) solicit acceptances of that plan from Oct. 3, 2011, to
      Jan. 4, 2012.

A final hearing is set for July 26, 2011, at 10:00 a.m.
(prevailing Eastern Time) to consider the Debtors' extension
request.  Objections, if any, are due July 19, at 4:00 p.m.

The Debtors tell the Court that, once the Yu-Gi-Oh! Litigation
against TV Tokyo Corporation and Nihon Ad Systems Inc. is
completed, the Debtors will be in a better position to negotiate
financing and a chapter 11 plan with their creditors.  The Debtors
believe that commencing plan negotiations at this time would be
premature.

The Debtors say they expect to evaluate their reorganization
options and negotiate a plan of reorganization once there is
clarity with respect to the Yu-Gi-Oh! litigation.

                    About 4Kids Entertainment

New York-based 4Kids Entertainment, Inc., dba 4Kids, is an
entertainment and media company specializing in the youth oriented
market, with operations in these business segments: (i) licensing,
(ii) advertising and media broadcast, and (iii) television and
film production/distribution.  The parent entity, 4Kids
Entertainment, was organized as a New York corporation in 1970.

The principal driver for filing the Chapter 11 cases is the need
to protect 4Kids' most valuable asset -- its rights under an
exclusive license relating to the popular Yu-Gi- Oh! ("YGO")
series of animated television programs -- from efforts by the
licensor, a consortium of Japanese companies, to allegedly
wrongfully terminate the license and force 4Kids out of business.

4Kids Entertainment, along with affiliates, filed for Chapter 11
bankruptcy protection (Bankr. S.D.N.Y. Lead Case No. 11-11607) on
April 6, 2011.  Kaye Scholer LLP is the Debtors' restructuring
counsel.  Epiq Bankruptcy Solutions, LLC, is the Debtors' claims
and notice agent.  BDO Capital Advisors, LLC, is the financial
advisor and investment banker.  An official committee of unsecured
creditors has not been appointed by the Office of the United
States Trustee.


4KIDS ENTERTAINMENT: Wants Until Nov. 4 to Decide on HQ Lease
-------------------------------------------------------------
4Kids Entertainment Inc. and its debtor-affiliates ask the U.S.
Bankruptcy Court for the Southern District of New York to extend
until Nov. 4, 2011, its deadline to decide whether to assume or
reject an unexpired lease of nonresidential real property.

According to the Debtors, their remaining real property lease is
for its headquarters on the 11th floor of 30-2 West 24th Street,
New York, NY 10010.  On June 21, 2011, the Bankruptcy Court
approved the rejection of the Debtors' only other real property
lease, which was for certain office space on the 6th floor of 30-2
West 24th Street, New York, NY 10010.

The Debtors are in the process of reviewing and assessing the HQ
Lease to determine the consequences of assumption or rejection
within the context of and taking into consideration the totality
of circumstances with respect to the chapter 11 cases, including
the ongoing litigation with TV Tokyo Corporation and Nihon Ad
Systems Inc.

A hearing on the request is set for July 26, 2011.

                    About 4Kids Entertainment

New York-based 4Kids Entertainment, Inc., dba 4Kids, is an
entertainment and media company specializing in the youth oriented
market, with operations in these business segments: (i) licensing,
(ii) advertising and media broadcast, and (iii) television and
film production/distribution.  The parent entity, 4Kids
Entertainment, was organized as a New York corporation in 1970.

The principal driver for filing the Chapter 11 cases is the need
to protect 4Kids' most valuable asset -- its rights under an
exclusive license relating to the popular Yu-Gi- Oh! ("YGO")
series of animated television programs -- from efforts by the
licensor, a consortium of Japanese companies, to allegedly
wrongfully terminate the license and force 4Kids out of business.

4Kids Entertainment, along with affiliates, filed for Chapter 11
bankruptcy protection (Bankr. S.D.N.Y. Lead Case No. 11-11607) on
April 6, 2011.  Kaye Scholer LLP is the Debtors' restructuring
counsel.  Epiq Bankruptcy Solutions, LLC, is the Debtors' claims
and notice agent.  BDO Capital Advisors, LLC, is the financial
advisor and investment banker.  An official committee of unsecured
creditors has not been appointed by the Office of the United
States Trustee.


4KIDS ENTERTAINMENT: Taps EisnerAmper as Auditor & Tax Advisor
--------------------------------------------------------------
4Kids Entertainment Inc. and its debtor-affiliates ask the U.S.
Bankruptcy Court for the Southern District of New York for
permission to employ EisnerAmper LLP fka Eisner LLP as auditor and
tax advisor.

The professional services that the firm will render to the Debtors
may include, without limitation:

  a) review of the Debtors' interim financial information for the
     quarters ending June 2011, September 2011 and December 2011;
     and

  b) preparation of the Debtors' federal and state tax returns.

According to the Debtors, the firm is retained on a fixed fee
basis.  In respect of the Debtors' quarterly auditing reviews, the
firm is to be paid $20,000 after the end of each quarter.  In
respect of tax preparation services, the firm is to be paid
$75,000 after the filing of the Debtors' tax returns, which is
estimated to occur in September or October of 2011.  The firm's
hourly rates are:

   Partners                              $450 to $550
   Managers/Senior Managers/Directors    $325 to $425
   Seniors/Staff                         $200 to $300

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

                    About 4Kids Entertainment

New York-based 4Kids Entertainment, Inc., dba 4Kids, is an
entertainment and media company specializing in the youth oriented
market, with operations in these business segments: (i) licensing,
(ii) advertising and media broadcast, and (iii) television and
film production/distribution.  The parent entity, 4Kids
Entertainment, was organized as a New York corporation in 1970.

The principal driver for filing the Chapter 11 cases is the need
to protect 4Kids' most valuable asset -- its rights under an
exclusive license relating to the popular Yu-Gi- Oh! ("YGO")
series of animated television programs -- from efforts by the
licensor, a consortium of Japanese companies, to allegedly
wrongfully terminate the license and force 4Kids out of business.

4Kids Entertainment, along with affiliates, filed for Chapter 11
bankruptcy protection (Bankr. S.D.N.Y. Lead Case No. 11-11607) on
April 6, 2011.  Kaye Scholer LLP is the Debtors' restructuring
counsel.  Epiq Bankruptcy Solutions, LLC, is the Debtors' claims
and notice agent.  BDO Capital Advisors, LLC, is the financial
advisor and investment banker.  An official committee of unsecured
creditors has not been appointed by the Office of the United
States Trustee.


ACADEMY LTD: S&P Assigns Preliminary 'B' Corporate Credit Rating
----------------------------------------------------------------
Standard & Poor's Ratings Services assigned its preliminary 'B'
corporate credit rating to Katy, Texas-based Academy Ltd. The
outlook is stable.

"At the same time, we assigned our preliminary 'B' issue-level
rating and '4' recovery rating to the company's proposed $840
million term loan due 2018. We also assigned our preliminary
'CCC+' issue-level rating and '6' recovery rating to the company's
proposed $450 million of senior notes due 2019," S&P related.

According to the company, the proceeds from the term loan and
senior notes, along with equity contributions, will fund the
acquisition of the company by KKR.

"The ratings on Academy reflect our expectation of moderate near-
term performance gains, but not to the extent where we would see a
meaningful strengthening of credit measures," said Standard &
Poor's credit analyst David Kuntz.

"Pro forma for the LBO by KKR, we expect leverage to be in the
upper-7x area with interest coverage at about 2x. Although we
anticipate some improvement over the near term due to moderate
performance gains, we do not expect a meaningful strengthening of
the company's credit protection profile," S&P said.

"The company has historically demonstrated relatively stable
performance growth and we expect that to continue over the near
term," said Mr. Kuntz. "Over the next 12 months, we believe that
operations are likely to benefit from new stores and a moderate
increase in same-store sales."

The stable outlook reflects Standard & Poor's expectation for
moderately positive performance over the near term because of top-
line gains.


ACCURIDE CORP: Acquires Forgitron for $22 Million
-------------------------------------------------
Boston based, Kamylon Capital, has sold substantially all of the
assets of its portfolio company, Forgitron Technologies, to
Accuride Corporation.  Forgitron designs, manufactures and
distributes rotary-forged aluminum wheels for the Class 8 truck
market.  Assets included an 80,000 square foot forging facility
located in Camden, South Carolina.

"The acquisition of Forgitron Technologies by Accuride not only
validates Kamylon's investment thesis but as well proves what an
operationally focused investment firm can accomplish," commented
Todd Latouf, former President and CEO of Forgitron and Operating
Partner of Kamylon Capital.  He went on to say, "I am proud of the
efforts and goals accomplished by the Forgitron team and look
forward to seeing what they will accomplish at Accuride."  The
transaction closed on June 20, 2011.

Kamylon Capital is a private, principal investing firm making
control equity investments in small to middle market businesses.
By taking a hands-on, operational approach to its portfolio,
Kamylon and its in house group of Operating Partners are able to
mitigate risk, drive change and create value through a proprietary
process Kamylon calls "managerial investing".

                       About Accuride Corp.

Evansville, Indiana-based Accuride Corporation --
http://www.accuridecorp.com/-- manufactures and supplies
commercial vehicle components in North America.

Accuride, along with affiliates, filed for Chapter 11 protection
(Bankr. D. Del. Lead Case No. 09-13449) on Oct. 8, 2009.  Latham &
Watkins LLP and Young Conaway Stargatt & Taylor, LLP served as
counsel to the Debtors.  Accuride emerged from bankruptcy in
February 2010.

                          *     *     *

Accuride carries a 'B' corporate credit rating and stable outlook
from Standard & Poor's.

                          About Forgitron

Forgitron LLC was formed in 2005 to manufacture aluminum wheels
for Accuride Corporation pursuant to the terms of a supply
agreement between the parties, under which Accuride was to
purchase 12,000 units per month from Forgitron.  It suspended
operations in April 2007 following a dispute with Accuride.

Forgitron filed for chapter 11 protection on March 15, 2008,
before the U.S. Bankruptcy Court for the Northern District of Ohio
(Case Nos. 08-11762 and 08-11763).  The Debtors are represented by
Harry W. Greenfield, Esq., in Buckley King, LPA.

Kamylon Capital LLC acquired Forgitron's assets out of bankruptcy
for $9 million in 2008.  Kamylon restarted the plant after
acquiring the business.


AIRPARK VILLAGE: Has Problems With Plan, Seeks Dismissal
--------------------------------------------------------
Airpark Village LLC asks the U.S. Bankruptcy Court for the
District of Colorado to dismiss its Chapter 11 case due to its
inability to effectuate its Chapter 11 plan of reorganization.

According to the Debtor, dismissal of the case, rather than
converting to a case under chapter 7 or seeking approval of the
distribution of the Debtor's funds through the chapter 11 plan
process, is the most economical means of continuing to ensure the
greatest recovery to all creditors in this case.  The vast
majority of the Debtor's creditors are secured creditors and tax
lien creditors.

The Debtor says it has conferred with the U.S. Trustee regarding
the proposed dismissal, and can represent that the U.S. Trustee
does not oppose dismissal.  The Debtor has also conferred with
counsel for Mile High Banks, who also does not oppose dismissal.
The Debtor notes that it obtained a loan from Mile High Banks in
the principal amount of $5,450,000, which is priced at 8.5% per
annum.

Aurora, Colorado-based Airpark Village, LLC, filed for Chapter 11
bankruptcy protection (Bankr. D. Colo. Case No. 11-12790) on
Feb. 16, 2011.  Kenneth J. Buechler, Esq., at Buechler Law Office
LLC, in Denver, Colo., serves as the Debtor's bankruptcy counsel.
The Debtor disclosed $15,112,195 in assets and $8,564,158 in
liabilities as of the Chapter 11 filing.


ALL YOU, LLC: Confirmation Hearing on Competing Plans on Aug. 24
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Arkansas,
Fayetteville Division, approved the joint disclosure statement
filed by All You, LLC, and its secured creditor, First Security
Bank, after determining that the disclosure statement contains
adequate information.

The last day for filing written acceptances or rejections of the
competing plans of reorganization proposed separately by the
Debtor and the Secured Creditor is on Aug. 9, 2011.

The Court will convene a hearing on Aug. 24 to determine the
confirmation of the competing plans.  Objections are due Aug. 19.

The Debtor filed the original version of its plan on March 10, and
First Security filed its own plan on March 11.  For reasons stated
in oral ruling, the Bankruptcy Court denied confirmation of both
competing plans without prejudice.  The Court also overruled First
Security's objection to the Debtor's Plan as moot.

The Debtor filed a revised plan and disclosure statement dated
May 20.  First Security filed its own revised plan and disclosure
statement dated May 25.

The Debtor's previous Chapter 11 Plan proposed to sell (or, if it
was unable to sell, surrender to First Security) certain of its
real properties other than the Tontitown Property and the property
located at 2325 N. College, Fayetteville, Arkansas, and to use the
amounts realized from the properties to reduce its debt to First
Security.  The Debtor's plan then proposed to pay extra rentals to
First Security over a two-year period, and then emerge from
bankruptcy and retain the Tontitown Property and College Avenue
Property free and clear of its creditors' liens.

First Security's previous plan -- and its current proposed plan --
proposes to liquidate the Debtor's real estate assets.  First
Security continues to contend that because it is fully secured,
the Debtor may not cram down its debt to First Security and cannot
retain the Tontitown Property and College Avenue Property, free
and clear of First Security's lien unless it is able to pay its
entire Debt to First Security through the bankruptcy plan.  First
Security's plans to contend that the Debtor's goal of retaining
the Tontitown Property cannot be accomplished mathematically based
on (i) the sheer amount of First Security's lien, and (ii) the
relatively small amount of the monthly rental payments it can
receive from the Tontitown Property and other properties.

                      About All You, LLC

Fayetteville, Arkansas-based All You, LLC, owner of several
investment properties, filed for Chapter 11 bankruptcy protection
(Bankr. W.D. Ark. Case No. 10-74049) on Aug. 2, 2010.  Don Brady,
Esq., at Blair, Brady & Henson represents the Debtor in its
restructuring effort.  The Debtor disclosed $10.98 million in
assets and $5.51 million in liabilities as of the Petition Date.
The U.S. Trustee for Region 16 was unable to form an official
committee of unsecured creditors for the Chapter 11 case.

Both the Debtor; and First Security Bank, the largest creditor of
Debtor and holder of a mortgage lien on all of the Debtor's real
properties, have filed competing Chapter 11 plans in the
bankruptcy case.  The Court rejected both plans at a hearing on
April 20, 2011.

First Security Bank has asked the bankruptcy court to enter an
order converting the case to Chapter 7 liquidation.  A hearing on
the request is scheduled for June 29.

First Security is represented by Gary D. Jiles, Esq., at Jack
Nelson Jones Jiles & Gregory, P.A., in Conway, Arkansas.


AMBAC FINANCIAL: Has Court Nod of $27-Mil. Securities Settlement
---------------------------------------------------------------
Judge Shelley C. Chapman of the U.S. Bankruptcy Court for the
Southern District of New York approved the stipulation of
settlement, as amended, resolving certain securities actions and
derivative actions against Ambac Financial Group, Inc., for $27.1
million.

The resolved Securities Actions and Derivative Actions are:

(1) A consolidated class action captioned In re Ambac Fin.
     Group, Inc. Sec. Litig., No 08-cv-411-NRB (S.D.N.Y.) filed
     by purchasers of the Debtor's common stock against the
     Debtor, and certain of its current or former directors or
     officers, for violations of the Securities Exchange Act of
     1934.

(2) A case entitled Tolin v. Ambac Financial Group, Inc., et
     al., No. 08-cv-11241-CM (S.D.N.Y.), which alleged
     violations of the federal securities laws based on certain
     factual allegations similar to certain of the factual
     allegations in the Ambac Class Action, but on behalf of a
     different class of purchasers, was filed.

(3) Certain shareholders commenced shareholder derivative
     actions against certain of the Debtor's directors and
     officers, which were consolidated into these cases:
     In re Ambac Financial Group, Inc. Derivative Litigation,
     No. 08-cv-854-SHS (S.D.N.Y.), In re Ambac Financial Group,
     Inc. Shareholder Derivative Litigation, C.A. No. 3521-VCL
     (Del. Ch.), and In re Ambac Financial Group, Inc.
     Shareholder Derivative Litigation, No. 650050/2008E (N.Y.
     Sup.).

The Bankruptcy Court also approved the Debtor's entry into an
insurer's agreement, as amended, whereby the D&O Insurers will pay
$24.6 million into escrow pursuant to the Stipulation of
Settlement.

The Bankruptcy Court further approved the releases and injunctions
set forth in the Stipulation of Settlement.

Pursuant to second amendments to the Stipulation of Settlement and
Insurer Agreement, the injunctions and releases set forth in the
order do not release or bar the claims arising under the Employee
Retirement Income Security Act at issue in the ERISA action
entitled Veera v. Ambac Administrative Committee et al. before
Judge Harold Baer, Jr. of the U.S. District Court for the Southern
District of New York, provided that nothing in the order on the
Stipulation of Settlement, as amended, will be deemed a waiver by
the defendants in the Veera Action of their rights to maintain
that any recovery by the Ambac Financial Group Inc. Savings
Incentive Plan pursuant to the Settlement Stipulation approved
will offset any recovery by the plaintiffs in the Veera Action.

The Debtor is directed to file with the New York District Court
appropriate applications seeking dismissal of the Derivative
Actions.

The Bankruptcy Court also authorized the Debtor's entry into the
insurer agreement and its corresponding amendments.

Upon the occurrence of the Effective Date of the Stipulation of
Settlement, Claim Nos. 2163, 2165, 2166, 2169, 2170, 2493 and 2992
will be deemed to be disallowed and expunged from the claims
register without further order of the Court.

Before the entry of the order, the Debtor filed with the
Bankruptcy Court a revised proposed order to reflect the language
set forth in the Second Amendments to the Stipulation of
Settlement and Insurer Agreement, full text copies of which are
available for free at:

  http://bankrupt.com/misc/Ambac_2ndAmtoSettlemntStip.pdf
  http://bankrupt.com/misc/Ambac_2ndAmtoInsurerAgr.pdf

                       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 US$30.05 billion in total assets,
US$31.47 billion in total liabilities, and a US$1.42 billion
stockholders' deficit, at June 30, 2010.

On an unconsolidated basis, Ambac said in a court filing that
it has assets of (US$394.5 million) and total liabilities of
US$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 US$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.


AMBAC FINANCIAL: Hopes to Reach Deal With OCI on Chapter 11 Plan
----------------------------------------------------------------
Ambac Financial Group, Inc. says it hopes it can reach an
agreement with the Commissioner of the Office of Insurance for the
State of Wisconsin for the company to effectuate a plan
settlement, PropertyCasualty360.com related in a July 13, 2011
report.

In a statement, an Ambac spokesperson said it is in the best
interest of the OCI to minimize the amount that Ambac Assurance
Corporation pays to its parent AFG for the tax benefits associated
with net operating losses, according to PropertyCasualty360.com.

However, the spokesperson maintained that it is also in the best
interest of AFG creditors to seek full value for the NOLs, the
report noted.

The form of AFG's Plan is dependent on the OCI's agreement of a
Plan settlement on or before July 29, 2011.  The Plan settlement
contemplates the allocation of the NOLs between AAC and AFG.  If
the OCI does not approve the Plan Settlement, the Debtor will
cause a deconsolidation of the Ambac Consolidated Group by
transferring more than 20% of its AAC stock or transferring the
economic rights of more than 20% in ACC to either AFG Prime.



AMBAC FINANCIAL: K. Veera Wants to Lift Stay to Continue Suit
-------------------------------------------------------------
Karthikeyan Veera wants the U.S. Bankruptcy Court for the Southern
District of New York to lift the automatic stay to permit him to
continue pursuing an action under the Employee Retirement Income
Security Act before the U.S. District Court for the Southern
District of New York.

Counsel to Mr. Veera, Stephen J. Fearon, Jr., Esq., at Squitieri &
Fearon, LLP, in New York, contends that there is no need to stay
the ERISA Action any longer because the Debtor has filed its Plan
and is beyond the "critical juncture" that the Debtor originally
relied upon to argue for the stay.

Moreover, any claim by the Debtor that litigation would distract
it from its reorganizing is especially suspect because its
operating arm, Ambac Assurance Corp., is vigorously defending at
least three lawsuits relating to certain toxic deals that are at
issue in the ERISA Action, according to Mr. Fearon.

Mr. Fearon insists that the Debtor is not a party to the ERISA
Action.  However, the automatic stay has already prevented Mr.
Veera from completing much of the discovery that he sought and it
scuttled the schedule set by Judge Baer of the District Court for
completing discovery in the action, Mr. Fearon contends.

In the alternative, if the Bankruptcy Court continues the
automatic stay, Mr. Veera seeks the Bankruptcy Court's permission
to pursue some very limited discovery in the ERISA Action.
Specifically, Mr. Veera seeks these categories of discovery:

(1) AFG should produce the deposition transcripts and exhibits
     from these pending actions: (i) Ambac Assurance Corp. v.
     EMC Mortgage Corp. and JP Morgan Securities Inc. (f/k/a
     Bear, Stearns & Co.); and (ii) Ambac Assurance Corp. v. DLJ
     and Credit Suisse.

(2) Mr. Veera wants to depose these former Ambac employees:

     -- William McKinnon, a defendant in the ERISA Action, a
        fiduciary of the Ambac Financial Group, Inc. Savings and
        Investment Plan and a member of the SIP's Investment
        Committee.  He was also the Chief Risk Officer of AFG
        and AAC and would have been well-aware of the company's
        exposure to massive losses on its guarantees.

     -- Sean T. Leonard, a defendant in the ERISA Action and a
        fiduciary of the SIP.  He acted as the Chief Financial
        Officer of AFG and would have been acutely aware of the
        company's exposure to massive losses on its guarantees
        of risky financial products.

     -- Grant Gregory, a former director of AFG and is not a
        defendant in the ERISA Action.

(3) Mr. Veera wants to obtain documents from Robert Grenader,
     former chairman and Chief Executive Officer of AFG and
     Credit Suisse on which he served subpoenas before the
     Bankruptcy Court stayed the ERISA Action.

The parties in the ERISA Action have agreed to mediate the case on
September 2, 2011, before retired Federal Judge Layn Phillips.

        AFG: Veera Should Wait until Plan is Confirmed

The Debtor urges the Bankruptcy Court to deny Mr. Veera any
further relief from the automatic stay until the Plan is confirmed
and becomes effective, except to permit Mr. Veera to participate
in the mediation.

Contrary to Mr. Veera's assertions, the Debtor contends that it
expects to be fully occupied during the Plan confirmation process
given its limited resources and the need to address various
complex issues and objections to the Plan and Disclosure Statement
that are likely to be filed.  Among other things, counsel to the
Debtor, Richard W. Reinthaler, Esq., at Dewey & LeBoeuf LLP, in
New York, points out, the OCI intends to contest the Plan, and the
Debtor has yet to resolve the alleged priority claims filed by (i)
the Department of the Treasury - Internal Revenue Service for
approximately $807 million, and (ii) the Department of Finance of
the City of New York for approximately $117 million.

Mr. Reinthaler maintains that the Debtor remains a real party-in-
interest in the ERISA Action and has a significant financial stake
in its outcome on account of the indemnification rights of the
Individual Defendants in the ERISA Action.  In contrast, Mr. Veera
is no longer facing an imminent discovery cutoff deadline.

"It would also make no sense to grant Mr. Veera relief from the
automatic stay to take discovery on a case that he may no longer
be entitled to pursue under the Debtor's currently proposed Plan,
if confirmed," according to Mr. Reinthaler.

Mr. Reinthaler further asserts that cause does not exist to permit
Mr. Veera to conduct discovery at this point or otherwise pursue
the claims in the ERISA Action unless and until it becomes clear
that the Mediation will not result in an out-of-court resolution
of the ERISA Action and that Mr. Veera's actions in those regards
will not interfere with the Debtor's ability to reorganize.


AMBAC FINANCIAL: Wins OK for Lathrop as Counsel for OCI Issues
--------------------------------------------------------------
Ambac Financial Group, Inc., received permission from the U.S.
Bankruptcy Court for the Southern District of New York to employ
Lathrop & Clark LLP as its special counsel, nunc pro tunc to
April 4, 2011.

Lathrop will represent the Debtor in Ambac Assurance Corporation's
rehabilitation proceedings in the Circuit Court for Dane County,
in Wisconsin.

As the Debtor's special counsel, Lathrop will:

  (i) appear on the Debtor's behalf;

(ii) draft and file legal documents;

(iii) provide advice and counsel to the Debtor;

(iv) perform other tasks directly related to the representation
      of the Debtor's interests.

The Debtor will pay Lathrop's professionals according to the
firm's customary hourly rates:

        Title                      Rate per Hour
        -----                      -------------
        Partners and Counsel        $120 to $360
        Associates                  $170 to $285
        Paraprofessionals            $50 to $175

The Debtor will also reimburse Lathrop for reasonable expenses
the firm incurred or will incurred.

Kenneth B. Axe, Esq., a member at Lathrop & Clark LLP, in
Madison, Wisconsin -- kaxe@lathropclark.com -- discloses that his
firm represents GE Capital, Liberty Mutual Insurance Company, and
U.S. Bank in matters unrelated to the Debtor.  Lathrop also
represented The Hartford Life Insurance Company, Metropolitan
Life Insurance Company and National Union Insurance Company in
past matters unrelated to the Debtor, he adds.  Lathrop, he
cites, represented the Debtor's affiliate Ambac Assurance UK in
connection with the rehabilitation of AAC, although at present it
is not actively representing Ambac UK.

Notwithstanding those disclosures, Mr. Axe insists that Lathrop
is a "disinterested person" as the term is defined in Section
101(14) of the Bankruptcy Code.


AMERICAN SAFETY: Wins Nod for Dismissal of Chapter 11 Case
----------------------------------------------------------
Judge Mary F. Walrath of the U.S. Bankruptcy Court for the
District of Delaware granted the request of American Safety Razor
Company, LLC and its debtor affiliates to dismiss their Chapter 11
cases.

The Chapter 11 cases are dismissed effective as of June 24, 2011.

American Safety, now known as Old Razor Company, asked the Court
to dismiss its Chapter 11 case after completing the sale of all of
their assets to Energizer Holdings, Inc., in November last year.

                    About American Safety Razor

American Safety Razor Company, LLC, doing business as Personna
American Safety Razor, manufactures private-label shaving razors
and blades.  ASR also makes and distributes blades and bladed hand
tools for a variety of industrial uses and specialty industrial
and medical blades.  The Company has roots going back to 1875.

American Safety, along with affiliates, sought Chapter 11 relief
(Bankr. D. Del. Case No. 10-12351) on July 28, 2010.  Mark
J. Thompson, Esq., and Morris J. Massel, Esq., at Simpson Thacher
& Bartlett LLP, serve as bankruptcy attorneys.  Howard A. Cohen,
Esq., at Drinker Biddle & Reath LLP, is co-counsel.  In addition,
Lazard Middle Market LLC is the investment banker and Kurtzman
Carson Consultants LLC is the claims and notice agent.

At Dec. 31, 2010, the Debtor's balance sheet showed $10.2 million
in total assets, $8.5 million in total liabilities, and
stockholders' equity of $1.7 million.


AMTRUST FINANCIAL: Unit Settles Ex-Banker's FLSA Suit
-----------------------------------------------------
Eric Hornbeck at Bankruptcy Law360 reports that U.S. District
Judge Kenneth Marra on Tuesday approved a settlement to end a
proposed overtime collective action brought by a former personal
banker at AmTrust Bank Investment Services Inc., a unit of AmTrust
Bank.

Law360 says Judge Marra approved the settlement and dismissed the
case in a brief order, but the terms of the settlement weren't
disclosed. Attorneys involved in the case didn't immediately
respond to requests for more information about the settlement
Tuesday.

                    About AmTrust Financial

AmTrust Financial Corp (PINK: AFNL) was the owner of the AmTrust
Bank.  AmTrust was the seventh-largest holder of deposits in South
Florida, with $4.7 billion in deposits and 21 branches.

In November 2008, the Office of Thrift Supervision issued a cease
and desist order requiring AmTrust to improve its capital ratios.

AmTrust Financial, together with affiliates that include AmTrust
Management Inc., filed for Chapter 11 bankruptcy protection
(Bankr. N.D. Ohio Case No. 09-21323) on Nov. 30, 2009.  The debtor
subsidiaries include AmFin Real Estate Investments, Inc., formerly
AmTrust Real Estate Investments, Inc. (Case No. 09-21328).

G. Christopher Meyer, Esq., Christine M. Piepont, Esq., and Sherri
L. Dahl, Esq., at Squire Sanders & Dempsey (US) LLP, in Cleveland,
Ohio; and Stephen D. Lerner, Esq., at Squire Sanders & Dempsey
(US) LLP, in Cincinnati, Ohio, serve as counsel to the Debtors.
Kurtzman Carson Consultants serves as claims and notice agent.
Attorneys at Hahn Loeser & Parks LLP serve as counsel to the
Official Committee of Unsecured Creditors.  AmTrust Management
estimated $100 million to $500 million in assets and liabilities
in its Chapter 11 petition.

AmTrust Bank was not part of the Chapter 11 filings.  On Dec. 4,
2009, AmTrust Bank was closed by regulators and the Federal
Deposit Insurance Corporation was named receiver.  New York
Community Bank, in Westbury, New York, assumed all of the deposits
of AmTrust Bank pursuant to a deal with the FDIC.


AREK FRESSADI: Court Rejects Conversion, Orders Dismissal
---------------------------------------------------------
Bankruptcy Judge Eileen W. Hollowell rejected a request by certain
creditors to have the individual Chapter 11 case of Arek Fressadi
converted to Chapter 7.  Instead, the Court dismissed the case and
imposed a 180-day bar against re-filing anything other than a
Chapter 7 petition.  A copy of Judge Hollowell's July 15, 2011
Memorandum Decision is available at http://is.gd/7g6p6Xfrom
Leagle.com.

Mr. Fressadi filed a Chapter 11 petition (Bankr. D. Ariz. Case No.
11-01161) on Jan. 17, 2011, after summary judgment was entered
against him on a judicial foreclosure complaint filed by M&I
Marshall & Ilsley Bank regarding a 5-acre real property in Cave
Creek, Arizona.


AUG FUNDING: Case Summary & 14 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Aug Funding, LLC
        165 Remsen Street, 2nd Floor
        Brooklyn, NY 11201

Bankruptcy Case No.: 11-46167

Chapter 11 Petition Date: July 18, 2011

Court: U.S. Bankruptcy Court
       Eastern District of New York (Brooklyn)

Judge: Carla E. Craig

Debtor's Counsel: Jonathan S. Pasternak, Esq.
                  RATTET PASTERNAK, LLP
                  550 Mamaroneck Avenue, Suite 510
                  Harrison, NY 10528
                  Tel: (914) 381-7400
                  Fax: (914) 381-7406
                  E-mail: jsp@rattetlaw.com

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

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

A list of the Company's 14 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/nyeb11-46167.pdf

The petition was signed by Richard Rudy, vice president of the
manager of the sole member.


AUTONATION INC: S&P Raises Corporate Credit Rating From 'BB+'
-------------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on AutoNation Inc. to 'BBB-' from 'BB+'. The outlook is
stable. "At the same time, we affirmed the 'BB+' issue-level
ratings on the company's senior unsecured debt, including its $300
million 7% notes due April 15, 2014, and its $400 million 6.75%
notes due April 15, 2018. AutoNation's subsidiaries guarantee the
senior notes, which rank equal to the revolving credit facility,
and are subordinate to approximately $1.7 billion of secured
floor-plan liabilities. The unsecured notes are rated one notch
below the corporate credit rating, because as of March 31, 2011,
secured debt was over 20% of assets (it was 32%)," S&P said.

"The upgrade reflects our reassessment of AutoNation's business
profile to satisfactory from fair," said Standard & Poor's credit
analyst Nancy Messer. "The business profile reflects our view of
AutoNation's resilient business model, including stability of
EBITDA relative to revenues (the company has a high degree of
variable costs and multiple revenue sources) and a very profitable
service business not dependent on vehicle sales. The company's
operating income margins (before depreciation and amortization) by
our calculation have improved (to 4.7% in the 12 months ended
March 31, 2011, from 3.8% for the period ended March 31, 2009) as
has return on capital (13.2% for the 12 months ended March 31,
2011, from 7.4% for the period ended March 31, 2009). Despite
single-digit EBITDA margins the company is able to generate
free cash flow on a relatively consistent basis. During the past
several years, results of the rated auto retailers, including
AutoNation, have been less volatile than those of the suppliers to
the automakers. AutoNation, the largest of the rated U.S. auto
retailers, has dealerships located heavily in the southern and
western U.S."


AUTOS VEGA: Sec. 341 Creditors' Meeting Set for Aug. 15
-------------------------------------------------------
The United States Trustee in Puerto Rico will hold a meeting of
creditors pursuant to 11 U.S.C. Sec. 341 in the bankruptcy case of
Autos Vega, Inc., on Aug. 15, 2011, at 10:30 a.m. at 341 Meeting
Room, Ochoa Building, 500 Tanca Street, First Floor, in San Juan,
Puerto Rico.

The last day to file proofs of claim for non-governmental entities
is on Nov. 14, 2011.  Governmental entities are required to submit
proofs of claim by Jan. 3, 2012.

The Debtors' representative must be present at the meeting to be
questioned under oath by the trustee and by creditors.  Creditors
are welcome to attend, but are not required to do so.  The meeting
may be continued and concluded at a later date without further
notice.

                        About Autos Vega

Autos Vega, Inc., is a car dealer and automotive parts wholesaler
based in San Juan, Puerto Rico.  The Company filed for Chapter 11
bankruptcy protection (Bankr. D. P.R. Case No. 11-05773) on
July 6, 2011.  The case has been assigned to Judge Sara E. De
Jesus Kellogg.  The Debtor estimated its assets and debts at
$10 million to $50 million.

Antonio A. Arias-Larcada, Esq., at McConnell Valdes LLC, in San
Juan, Puerto Rico -- aaa@mcvpr.com -- serves a counsel to the
Debtor.  Luis R. Carrasquillo Ruiz, CPA, is the Debtor's
accountant.


AUTOS VEGA: Files Application for McConnell Valdes as Counsel
-------------------------------------------------------------
Autos Vega, Inc., asks for permission from the U.S. Bankruptcy
Court for the District of Puerto Rico to employ McConnell Valdes
LLC as its bankruptcy counsel.

Ramon Vega Diaz, the Company's president, informs the Court that
the Debtor has retained McV on the basis of a $15,000 retainer,
which was advanced by the Debtor, against which the Firm will bill
on these hourly rates for work performed or to be performed by
these professionals:

     Antonio A. Arias-Larcada     $270
     Yarilyn C. Perez-Colon       $155
     Cecilia M. Suau              $130
     Paralegals                   $125

The Debtor will also reimburse McV for its reasonable expenses.

Other than non-bankruptcy prepetition legal representation of the
Debtor and Euroclass Motors, Inc. in a labor dispute, which is the
main reason of the filing of this bankruptcy petition, McV and its
members do not have any connection with the Debtor, Antonio A.
Arias-Larcada, Esq., a capital member of McV, tells the Court.  He
attests that McV and its members are disinterested persons as
defined in Section 101(14) of the Bankruptcy Code.

                        About Autos Vega

Autos Vega, Inc., is a car dealer and automotive parts wholesaler
based in San Juan, Puerto Rico.  The Company filed for Chapter 11
bankruptcy protection (Bankr. D. P.R. Case No. 11-05773) on
July 6, 2011.  The case has been assigned to Judge Sara E. De
Jesus Kellogg.  The Debtor estimated its assets and debts at
$10 million to $50 million.

Luis R. Carrasquillo Ruiz, CPA, is the Debtor's accountant.


AUTOS VEGA: Wants to Employ L. Carrasquillo Ruiz as Accountant
--------------------------------------------------------------
Autos Vega, Inc. seeks the authority from the U.S. Bankruptcy
Court for the District of Puerto Rico to employ Luis R.
Carrasquillo Ruiz, CPA, as its accountant.

Mr. Carrasquillo Ruiz will provide the Debtor with strategic
counseling and advice, pro forma modeling preparation, and
financial/business assistance, and will prepare documentation that
is related to and has an effect on the Debtor, as well as
recommendations and financial/business assessments.

The Debtor has provided Mr. Carrasquillo Ruiz with a $20,000
advance, against which he has billed and will bill for work
performed or to be performed by him and his firm, CPA Luis R.
Carrasquillo & Co., P.S.C., at these standard hourly billing
rates:

     Luis R. Carrasquillo Ruiz            $160
     Marcelo Gutierrez                    $125
     Other CPAs                         $90 - $125
     Lionel Rodriguez Perez                $85
     Carmen Callejas Echevarria            $75
     Omara Torres Ortiz                    $75
     Sandra Zavala Diaz                    $50
     Janet Marrero                         $35
     Iris L. Franqui                       $35

Mr. Carrasquillo Ruiz assures the Court that he is a disinterested
person, as defined in Section 101(14) of the Bankruptcy Code.

                        About Autos Vega

Autos Vega, Inc., is a car dealer and automotive parts wholesaler
based in San Juan, Puerto Rico.  The Company filed for Chapter 11
bankruptcy protection (Bankr. D. P.R. Case No. 11-05773) on
July 6, 2011.  The case has been assigned to Judge Sara E. De
Jesus Kellogg.  The Debtor estimated its assets and debts at
$10 million to $50 million.

Antonio A. Arias-Larcada, Esq., at McConnell Valdes LLC, in San
Juan, Puerto Rico -- aaa@mcvpr.com -- serves a counsel to the
Debtor.


BERNARD L MADOFF: Trustee Can Dole Out From $7.6 Billion
--------------------------------------------------------
Kaja Whitehouse at the New York Post reports that Irving Picard,
the trustee in charge of cleaning up Bernie Madoff's multibillion-
dollar Ponzi scheme, was given approval to start doling out some
of the $7.6 billion he's collected in the fallout of the
$65 billion stock fraud.

According to the report, Bankruptcy Judge Burton Lifland approved
Picard's request yesterday to put some $2.6 billion in a customer
fund, from which he will start making distributions.  Checks from
that account will then be mailed to some 1,224 account holders in
the fourth quarter of this year -- close to three years after
Madoff confessed to the biggest fraud in history.

The New York Post relates that Mr. Picard collected $5 billion
from the estate of Madoff's former pal and investor, Jeffrey
Picower, earlier this year, and continues to battle other big-name
investors, including JPMorgan and the owners of the Mets, headed
by Fred Wilpon, both of whom Picard says wrongfully profited from
the fraud.

Mr. Picard, together with his law firm, have earned a whopping
$180 million in legal fees in unwinding Madoff's scam since 2009,
or more than half of what will be doled out to swindled investors
later this year.

                      About Bernard L. Madoff

Bernard L. Madoff Investment Securities LLC and Bernard L. Madoff
orchestrated the largest Ponzi scheme in history, with losses
topping $50 billion.  On Dec. 15, 2008, the Honorable Louis A.
Stanton of the U.S. District Court for the Southern District of
New York granted the application of the Securities Investor
Protection Corporation for a decree adjudicating that the
customers of BLMIS are in need of the protection afforded by the
Securities Investor Protection Act of 1970.  The District Court's
Protective Order (i) appointed Irving H. Picard, Esq., as trustee
for the liquidation of BLMIS, (ii) appointed Baker & Hostetler LLP
as his counsel, and (iii) removed the SIPA Liquidation proceeding
to the Bankruptcy Court (Bankr. S.D.N.Y. Adv. Pro. No. 08-01789)
(Lifland, J.).  Mr. Picard has retained AlixPartners LLP as claims
agent.

On April 13, 2009, former BLMIS clients filed an involuntary
Chapter 7 bankruptcy petition against Bernard Madoff (Bankr.
S.D.N.Y. 09-11893).  The case is before Hon. Burton Lifland.  The
petitioning creditors -- Blumenthal & Associates Florida General
Partnership, Martin Rappaport Charitable Remainder Unitrust,
Martin Rappaport, Marc Cherno, and Steven Morganstern -- assert
US$64 million in claims against Mr. Madoff based on the balances
contained in the last statements they got from BLMIS.

On April 14, 2009, Grant Thornton UK LLP as receiver placed Madoff
Securities International Limited in London under bankruptcy
protection pursuant to Chapter 15 of the U.S. Bankruptcy Code
(Bankr. S.D. Fla. 09-16751).

The Chapter 15 case was later transferred to Manhattan.  In June
2009, Judge Lifland approved the consolidation of the Madoff SIPA
proceedings and the bankruptcy case.

Judge Denny Chin of the U.S. District Court for the Southern
District of New York on June 29, 2009, sentenced Mr. Madoff to
150 years of life imprisonment for defrauding investors in United
States v. Madoff, No. 09-CR-213 (S.D.N.Y.)

As of July 15, 2011, a total of $6.88 billion in claims by
investors has been allowed, with $794.9 million to be paid by the
Securities Investor Protection Corp.  Investors are expected to
receive additional distributions from money recovered by Mr.
Picard from lawsuits or settlements.


BERNARD L MADOFF: $7.2-Bil. Picower Deal Sent to 2nd Circuit
------------------------------------------------------------
Samuel Howard at Bankruptcy Law360 reports that an investor in
Bernard L. Madoff's Ponzi scheme on Monday appealed a New York
federal judge's decision to block her challenge to a $7.2 billion
settlement with the estate of Jeffry Picower, a major Madoff
client.

According to Law360, Adele Fox turned to the Second Circuit after
U.S. District Judge Thomas Griesa's refused in May to let her
intervene in the federal government's forfeiture action against
Mr. Picower's widow.  Ms. Fox seeks to prevent the $7.2 billion
from going primarily to investors who lost fortunes in the scam,
Law360 says.

                      About Bernard L. Madoff

Bernard L. Madoff Investment Securities LLC and Bernard L. Madoff
orchestrated the largest Ponzi scheme in history, with losses
topping $50 billion.  On Dec. 15, 2008, the Honorable Louis A.
Stanton of the U.S. District Court for the Southern District of
New York granted the application of the Securities Investor
Protection Corporation for a decree adjudicating that the
customers of BLMIS are in need of the protection afforded by the
Securities Investor Protection Act of 1970.  The District Court's
Protective Order (i) appointed Irving H. Picard, Esq., as trustee
for the liquidation of BLMIS, (ii) appointed Baker & Hostetler LLP
as his counsel, and (iii) removed the SIPA Liquidation proceeding
to the Bankruptcy Court (Bankr. S.D.N.Y. Adv. Pro. No. 08-01789)
(Lifland, J.).  Mr. Picard has retained AlixPartners LLP as claims
agent.

On April 13, 2009, former BLMIS clients filed an involuntary
Chapter 7 bankruptcy petition against Bernard Madoff (Bankr.
S.D.N.Y. 09-11893).  The case is before Hon. Burton Lifland.  The
petitioning creditors -- Blumenthal & Associates Florida General
Partnership, Martin Rappaport Charitable Remainder Unitrust,
Martin Rappaport, Marc Cherno, and Steven Morganstern -- assert
US$64 million in claims against Mr. Madoff based on the balances
contained in the last statements they got from BLMIS.

On April 14, 2009, Grant Thornton UK LLP as receiver placed Madoff
Securities International Limited in London under bankruptcy
protection pursuant to Chapter 15 of the U.S. Bankruptcy Code
(Bankr. S.D. Fla. 09-16751).

The Chapter 15 case was later transferred to Manhattan.  In June
2009, Judge Lifland approved the consolidation of the Madoff SIPA
proceedings and the bankruptcy case.

Judge Denny Chin of the U.S. District Court for the Southern
District of New York on June 29, 2009, sentenced Mr. Madoff to
150 years of life imprisonment for defrauding investors in United
States v. Madoff, No. 09-CR-213 (S.D.N.Y.)

As of July 15, 2011, a total of $6.88 billion in claims by
investors has been allowed, with $794.9 million to be paid by the
Securities Investor Protection Corp.  Investors are expected to
receive additional distributions from money recovered by Mr.
Picard from lawsuits or settlements.


BLACK CROW: $1.5-Mil. DIP Loans Extended for One Year
-----------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida has
extended the term of the senior secured debtor-in-possession
credit agreement between Black Crow Media Group, LLC, et al., and
Paul C. Stone until June 16, 2012, or the effective date of a
Plan of Reorganization, whichever occurs earlier.

The Debtors were authorized to borrow up to $1.5 million from the
DIP Lender.  The DIP Lender has already advanced $1.2 million.

The original terms of the DIP financing agreement set a June 16,
2011 maturity date for the loans.  But the Debtors require
additional time to repay the loan, and the DIP Lender agreed to
extend the loan pursuant to the same terms and conditions for an
additional year.  The Debtors anticipate that they will confirm a
plan of reorganization prior to the expiration of the extended
loan term.

The Debtors were unable to obtain a replacement loan on better
terms than the DIP loan.  The Debtors relate that the DIP Lender
is fully secured by virtue of postpetition accounts receivable.

                         About Black Crow

Daytona Beach, Florida-based Black Crow Media Group, LLC, owns and
operates 17 FM and 5 AM radio stations in Daytona Beach, Live Oak,
Valdosta, Huntsville, Alabama, and Jackson, Tennessee.

Black Crow filed for Chapter 11 protection two days before a
hearing in U.S. district court where GECC was seeking appointment
of a receiver following default on term loans and a revolving
credit.

The Company, along with affiliates, filed for Chapter 11
bankruptcy (Bankr. M.D. Fla. Case No. 10-00172) on Jan. 11, 2010.

H. Jason Gold, Esq., Valerie P. Morrison, Esq., and Dylan G.
Trache, Esq., at Wiley Rein LLP, in McLean, Virginia, serve as the
Debtors' counsel.  Mariane L. Dorris, Esq., and R. Scott Shuker,
Esq., at Latham, Shuker, Eden & Beaudine, LLP, have been tapped as
co-counsel.  Protiviti Inc. is the Debtors' financial advisor.
Epiq Bankruptcy Solutions, LLC, is the claims and notice agent.
Brian G. Rich, Esq., and Douglas Bates, Esq., at Berger Singerman,
P.A., represent the Official Committee of Unsecured Creditors.

Black Crow disclosed $14,661,198 in assets and $48,830,319 in
liabilities as of the Chapter 11 filing.


BLOCKBUSTER INC: Judge Approves Bonus for Remaining Executive
-------------------------------------------------------------
Richard Vanderford at Bankruptcy Law360 reports that a New York
bankruptcy judge on Tuesday approved a plan to pay an incentive
bonus to the Blockbuster Inc. executive tasked with liquidating
the company's bad assets, despite the objections of the U.S.
trustee.

Law360 relates that under a plan approved by U.S. Bankruptcy Judge
Burton R. Lifland, one-time Blockbuster Vice President Bruce Lewis
will be able to take 1.25% of money paid to senior creditors by
July 31, up to $150,000.

                      About Blockbuster Inc.

Blockbuster Inc., the movie rental chain with a library of
more than 125,000 titles, along with 12 U.S. affiliates,
initiated Chapter 11 bankruptcy proceedings with a pre-arranged
reorganization plan in Manhattan (Bankr. S.D.N.Y. Case No.
10-14997) on Sept. 23, 2010.  It disclosed assets of $1 billion
and debts of $1.4 billion at the time of the filing.

Martin A. Sosland, Esq., and Stephen Karotkin, Esq., at Weil,
Gotshal & Manges, serve as counsel to the U.S. 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.  The Official
Committee of Unsecured Creditors retained Cooley LLP as its
counsel.

In April 2011, Blockbuster conducted a bankruptcy court-sanctioned
auction for all the assets.  Dish Network Corp. won with an offer
having a gross value of $320 million.

As a result of the asset sale and Chapter 11 cases, the Company is
not currently conducting any business operations.  The Company
expects to file a plan of liquidation with the Bankruptcy Court
and anticipates that the Bankruptcy Court will approve the
appointment of a Chapter 7 trustee to oversee liquidation of the
Company within the next several months.  Since the asset sale
proceeds are significantly less than the Company's pre-petition
liabilities, holders of secured and unsecured debt will receive
substantially less than payment in full for their claims and its
stockholders will receive no value for their shares of the
Company's common and preferred stock.


BLOSSOM VALLEY: Court Confirms Reorganization Plan
--------------------------------------------------
The Hon. Stephen L. Johnson has confirmed Blossom Valley
Investors, Inc.'s revised second amended plan of reorganization
filed on May 16, 2011.

Under the Plan, the Debtor intends to build out Oak Knoll, a
single-family home development.  The Debtor has completed
construction of the first phase, but does not anticipate
completing the second and third phases, of its Messina Gardens
townhouse project.  It plans to sell completed homes at Oak Knoll
and Messina Gardens at retail.  The Debtor anticipates the sale
(i) of the Oak Knoll homes to result in proceeds totaling
$5,474,000, and (ii) of the Messina Gardens homes and lots to
result in proceeds totaling $1,137,000, after payment of ongoing
project costs, the Bank of the West debt, and other debt.  The net
proceeds from the sale of the Oak Knoll and Messina projects will
be used to satisfy unpaid administrative expenses and other
claims.  The Debtor does not intend to complete its Grandview
townhouse project and has stipulated to relief from stay to allow
US Bank to foreclose on its deeds of trust on that project.

The Plan was originally filed in January 2011 and modified in
April 2011.  No objections were filed with respect to the April 8
Disclosure Statement, but the Court sua sponte, raised certain
matters that requires additional disclosure.  The Debtor filed its
second revised amended Disclosure Statement on May 10.  The Court
entered an order, on May 11, finding that the Debtor adequately
revised the Disclosure Statement to address the Court's concern.

After the entry of the Disclosure Statement Order, the Debtor,
after further discussions with its lender, filed a further revised
Second Amended Disclosure Statement, which further modifies the
plan outline as set forth in the supplemental declaration of
Jeffry A. Davis filed on May 16.  Accordingly, the Court found the
further revised Disclosure Statement contains adequate protection.

A full-text copy of the Disclosure Statement, dated May 16, is
available for free at:

     http://bankrupt.com/misc/BLOSSOMVALLEY_May16DS.pdf

                About Blossom Valley Investors, Inc

San Jose, California-based Blossom Valley Investors, Inc., and
Pear Avenue Investors LLC filed for Chapter 11 protection (Bankr.
N.D. Calif. Case Nos. 09-57669 and 09-57670) on Sept. 10, 2009.
Joseph R. Dunn, Esq., and Jeffry A. Davis, Esq., at Mintz Levin
Cohn Ferris Glovsky Popeo PC, represent the Debtors in their
restructuring efforts.  Blossom Valley disclosed $45,825,415 in
assets and $42,237,904 in liabilities as of the Chapter 11 filing.


BOISE COUNTY, IDAHO: Ruling Upcoming on Municipal Filing
--------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that whether Boise County, Idaho, is eligible for
municipal reorganization under Chapter 9 is a decision now in the
hands of U.S. Bankruptcy Judge Terry L. Myers in Boise.  The
county and a developer named Alamar Ranch LLC filed their papers
on July 15 for and against the developer's motion to dismiss the
petition.

Mr. Rochelle relates the developer won a $4 million judgment for
violation of the U.S. Fair Housing Act with respect to a 72-bed
residential treatment center for teenagers.  The county filed
under Chapter 9, saying it was unable to pay the judgment.  The
developer says Boise has $5.5 million in surplus funds, can pay
the judgment, is solvent, and thus isn't eligible for Chapter 9.
The county responds by contending that the surplus funds are
restricted and can be used only for designated purposes.

                     About Boise County, Idaho

Boise County is a rural mountain county in the U.S. state of
Idaho.  The population was 6,670 as of the 2000 census; it was
estimated at 7,571 in 2007.  The county seat is Idaho City, and
Horseshoe Bend is its largest city.

Boise County filed for bankruptcy (Bankr. D. Idaho Case No.
11-00481) on March 1, 2011, making it the first U.S. municipality
to file Chapter 9 this year.  The county estimated assets under
$50,000 and debts of $1 million to $10 million in the Chapter 9
petition.

Statistics from the American Bankruptcy Institute show that only
about 230 municipalities have filed Chapter 9 since 1980.


BREMERTON AMERICAN: Chapter 7 Auction for All Assets on Aug. 4
---------------------------------------------------------------
Steve Gardner at Kitsap Sun reports that the Bremerton American
Legion Post 68's in April sought bankruptcy protection under
Chapter 7 of the Bankruptcy Code, listing $616,685 in assets and
$351,419 in debt.  The American Legion Department of Washington
opposed and said the case should be converted to Chapter 11
reorganization.  The judge, however, ruled that an earlier vote by
post members to go with a Chapter 11 was advisory -- not binding
on the post's leadership -- and that the AMLDW's suspension of the
local post's charter did not remove the post board's right to file
Chapter 7.  Assets of the post will be up for auction on Aug. 4.


BROOKE CORP: Lynch Succeeds in Dismissing Case vs Franchisees
-------------------------------------------------------------
The law firm of Lynch & Robbins has succeeded in dismissing the
first of many cases filed against former Brooke franchisees.

The U.S. Trustee voluntarily agreed to Dismiss with Prejudice all
claims against "Brooke" franchisee L&L Financial Solutions Inc. --
but one major question remains.

Trustee of the Brooke Corporation, Brooke Capital and Brooke
Investments herein referred to as Brooke fails to collect funds
from its franchisee injured by Brooke's "unscrupulous massive
scheme to conceal the company's deteriorating financial condition"
(SEC / Securities and Exchange Commission's allegations), and
"Brooke's" resulting Chapter 11 Bankruptcy.

Brief History of the Unscrupulous Scheme:

Brooke sold hundreds of insurance agency franchises, funeral home
franchises, and backed loans to fund all through a subsidiary of
Brooke.  Allegations within the SEC and the United States
Bankruptcy Court, District of Kansas, Case Number: 08-22-22786-DLS
include: hiding critical information from investors and conducting
a financial fraud, reporting inflated asset values, double-
pledging collateral, diverting funds for improper uses, engaging
in various schemes to meet almost weekly liquidity crises, failure
to provide for loan loss allowances, illegal franchise fees not in
compliance with SEC regulations, using closed business locations
in its asset portfolio, and more.

Landmark Motion:

Adding insult to injury, Albert A. Riederer, Plaintiff, Trustee
for the Estate of the Brooke Corporation, files hundreds of
lawsuits to recoup funds to repay Brooke's loans.  The suits are
against hundreds of former Brooke franchisees which were already
severely injured by Brooke's deceptive practices, of which Lynch
and Robbins Law successfully represented L&L Financial Solutions,
Inc.  Patricia Fitzgerald, of Lynch & Robbins PA, argued that "the
Trustee completely ignored the fact that these Defendants have
been the subject of fraud, paid millions of dollars to cover
losses and are struggling to maintain their livelihood."  This
case is an example of franchisee beware, things are not always as
they appear.

One Question Remains...

The SEC did file a civil fraud case against six (6) top former
Brooke executives. However, why hasn't the U.S. Attorney filed any
actions against the Brooke insiders? The rapid collapse of Brooke
impacted hundreds of franchisees and regional banks of which many
are now out of business.

                          About Lynch & Robbins

Headquartered in Florida, Lynch & Robbins --
http://www.floridalawyer.com-- is a full-service law firm
representing individuals, businesses and large corporations in
civil litigation.  They have offices in St. Petersburg, Tampa,
Orlando, Jacksonville, and Miami.  The firm's attorneys defend and
prosecute civil cases in State and Federal Courts, Bankruptcy
Courts, Administrative Agencies, and Arbitration Forums.

                         About Brooke Corp.

Albert Riederer was appointed special master of Brooke Corporation
in prepetition federal court proceedings.  Shortly after Brooke
Corporation filed for Chapter 11 bankruptcy protection (Bankr. D.
Kansas Lead Case No. 08-22786) on October 28, 2008, Mr. Riederer
was appointed Chapter 11 Trustee.  When the case was converted to
Chapter 7 on June 29, 2009, Mr. Riederer was appointed Chapter 7
Trustee.  On October 29, 2008, the Court granted a motion to
jointly administer the bankruptcies of Brooke Corporation, Brooke
Capital Corporation, and Brooke Investment, Inc., with the Brooke
Corporation bankruptcy case being the lead case.


CASA GRANDE: Files List of 20 Largest Unsecured Creditors
---------------------------------------------------------
Casa Grande Capital Group, LLC, filed with the U.S. Bankruptcy
Court for the District of Arizona a list of its 20 largest
unsecured creditors, disclosing:

Name of Creditor              Nature of Claim    Claim Amount
----------------              ---------------    ------------
Cerience Corp.                Security Deposit        $11,730
5239 Fox Hills Drive
Fort Collins, CO 80526

Comcast Cable                 Cable Provider               94
P O Box 34744
Seattle, WA 98124

Gallegos Sanitation Inc.      Trash Removal               430
P O Box 1986
Fort Collins, CO 80522

Global Career Mgt., Inc.      Security Deposit          2,300
1675 Broadway, Suite 2260
Denver, CO 80202

Goltz Asphalt Co.             Asphalt Repair            1,521
3466 E. County Rd. 20c
Loveland, CO 80537

JDSU                          Tenant Improvement      331,460
5225 Old Orchard Rd.          Allowance
Suite 12
Skokie, IL 60077

Metron Inc.                   Irrigation Repair           300
P O Box 17851
Denver, CO 80217-0851

Mtn. States Employers         Security Deposit          4,432
Council
1799 Pennsylvania Street
Denver, CO 80203

Porter Industries Inc.        Janitorial Service       9,136
P O Box 27
Loveland, CO 80539-0027

Qwest                         Elevator/Emergency          183
P O Box 29040                 Phone Lines
Phoenix, AZ 85038-9040

Schindler Elevator            Elevator Service -        1,838
P O Box 93050                 Quarterly Payment
Chicago, IL 60673-3050

Sierra Properties, Inc.       Management Fee           11,630
1150 Academy Park
Loop #104
Colorado Springs, CO 80910

Sierra Properties, Inc.       Maintenance Labor         1,827
1150 Academy Park
Loop #104
Colorado Springs, CO 80910

Sorenson Communications       Security Deposit          4,925
4192 S. Riverboat Road
Suite 100
Salt Lake City, UT 84123

Telesto Solutions Inc.        Security Deposit         12,689
2950 Harmony Rd. Suite 200
Fort Collins, CO 80528

The Davey Tree Expert Co.     Tree Trimming             1,255
P O Box 94532
Cleveland, OH 44101-4532

Tolin Mechanical              HVAC Service             10,676
12005 E. 45th Avenue          Contract
Denver, CO 80239

Union Colony Service          Security Patrol             790
Protective Services
145 3rd Street
Kersey, CO 80644

Urban Farmer, Inc.            Irrigation Labor/Parts      457
3431 E. 86th Avenue
Thornton, CO 80229

WW Grainger                   HVAC Parts                   27
Dept 802958959
P O Box 419267
Kansas City, MO 64141-6267

                        About Casa Grande

Casa Grande Capital Group, LLC, owns and operates a Class-A office
building located at 2950 E. Harmony Road, in Fort Collins,
Colorado, known generally as the Harmony Corporate Center.  The
building is managed by Sierra Properties, Inc.

Casa Grande filed for Chapter 11 bankruptcy protection (Bankr. D.
Ariz. Case No. 11-19376) on July 6, 2011.  Judge Redfield T. Baum
Sr. presides over the case.  The Debtor estimated its assets and
debts at $10 million to $50 million as of Chapter 11 filing.
John J. Hebert, Esq., at Polsinelli Shughart, P.C., in Phoenix,
Arizona, serves as bankruptcy counsel to the Debtor.


CASA GRANDE: Sec. 341 Creditors' Meeting Set for August 9
---------------------------------------------------------
The United States Trustee for Region 14 will hold a meeting of
creditors pursuant to 11 U.S.C. Sec. 341 in the bankruptcy case of
Casa Grande Capital Group, LLC, on August 9, 2011, at 10:00 a.m.
at US Trustee Meeting Room, 230 N. First Avenue, Suite 102, in
Phoenix, Arizona.

The Debtors' representative must be present at the meeting to be
questioned under oath by the trustee and by creditors.  Creditors
are welcome to attend, but are not required to do so.  The meeting
may be continued and concluded at a later date without further
notice.

                        About Casa Grande

Casa Grande Capital Group, LLC, owns and operates a Class-A office
building located at 2950 E. Harmony Road, in Fort Collins,
Colorado, known generally as the Harmony Corporate Center.  The
building is managed by Sierra Properties, Inc.

Casa Grande filed for Chapter 11 bankruptcy protection (Bankr. D.
Ariz. Case No. 11-19376) on July 6, 2011.  Judge Redfield T. Baum
Sr. presides over the case.  The Debtor estimated its assets and
debts at $10 million to $50 million as of Chapter 11 filing.
John J. Hebert, Esq., at Polsinelli Shughart, P.C., in Phoenix,
Arizona, serves as bankruptcy counsel to the Debtor.


CASA GRANDE: Wins Approval for Polsinelli Shughart as Counsel
-------------------------------------------------------------
Casa Grande Capital Group, LLC, sought and obtained authority from
the U.S. Bankruptcy Court for the District of Arizona to employ
Polsinelli Shughart PC as its bankruptcy counsel.

PS will prepare pleadings and applications, conduct examinations
incidental to the administration of the Debtor's bankruptcy,
advise the Debtor of its rights, duties, and obligations under
Chapter 11 of the Bankruptcy Code, and formulate and prepare a
plan of reorganization and disclosure statement.

The Debtor will pay PS at its customary hourly rates that range
from $150 to $600.

John J. Hebert, Esq., a PS shareholder, in Phoenix, Arizona --
jhebert@polsinelli.com -- has attested that his firm is a
disinterested party, and does not hold or represent any interest
adverse to the Debtor's bankruptcy estate.

                        About Casa Grande

Casa Grande Capital Group, LLC, owns and operates a Class-A office
building located at 2950 E. Harmony Road, in Fort Collins,
Colorado, known generally as the Harmony Corporate Center.  The
building is managed by Sierra Properties, Inc.

Casa Grande filed for Chapter 11 bankruptcy protection (Bankr. D.
Ariz. Case No. 11-19376) on July 6, 2011.  Judge Redfield T. Baum
Sr. presides over the case.  The Debtor estimated its assets and
debts at $10 million to $50 million as of Chapter 11 filing.
John J. Hebert, Esq., at Polsinelli Shughart, P.C., in Phoenix,
Arizona, serves as bankruptcy counsel to the Debtor.


CASA GRANDE: Wants to Use Beal Bank's Cash Collateral
-----------------------------------------------------
Casa Grande Capital Group, LLC, seeks authority from the U.S.
Bankruptcy Court for the District of Arizona to use its cash-on-
hand and the rents and other income generated by its property to
pay its ordinary and necessary operating and reorganization
expenses, as set forth in a proposed budget through and including
Sept. 30, 2011.

Beal Bank asserts a claim against the Debtor, allegedly secured by
the Debtor's Harmony Corporate Center, in the principal amount of
$21,655,674.  Grubb & Ellis has valued the property at $26,680,000
as of April 2011.  Beal asserts a lien in the rental and other
income generated by the Property, and contends that that income
constitutes its "cash collateral."

John J. Hebert, Esq., at Polsinelli Shughart, P.C., in Phoenix,
Arizona, tells Judge Redfield T. Baum Sr. that any revenues
received by the Debtor in excess of those projected in the cash
collateral budget will be sequestered until the time as their use
is approved by the parties claiming an interest therein or
authorized by further order of the court.

The Debtor generates rental income and other revenue totaling
$251,000 to $255,000 per month from the property.

An expedited hearing on the request is scheduled for July 21,
2011.

A copy of the cash collateral budget is available for free at:

     http://bankrupt.com/misc/CasaGrande_Budget_07112011.pdf

                        About Casa Grande

Casa Grande Capital Group, LLC, owns and operates a Class-A office
building located at 2950 E. Harmony Road, in Fort Collins,
Colorado, known generally as the Harmony Corporate Center.  The
building is managed by Sierra Properties, Inc.

Casa Grande filed for Chapter 11 bankruptcy protection (Bankr. D.
Ariz. Case No. 11-19376) on July 6, 2011.  Judge Redfield T. Baum
Sr. presides over the case.  The Debtor estimated its assets and
debts at $10 million to $50 million as of Chapter 11 filing.
John J. Hebert, Esq., at Polsinelli Shughart, P.C., in Phoenix,
Arizona, serves as bankruptcy counsel to the Debtor.


CATHOLIC CHURCH: Wilm. Needs to Borrow $10 Mil. to Fund Plan
------------------------------------------------------------
The Associated Press reports Bankruptcy Judge began hearings to
consider confirmation of the Chapter 11 plan of the Diocese of
Wilmington.  At the hearing, the Diocese sought approval of the
plan even though it has yet to reach a final agreement on a
financing from a commercial lender.  The Diocese said that it
needs to borrow nearly $10 million to make its bankruptcy plan
work.  CFO Joseph Corsini told the judge the Diocese has a
"willing" lender but said the lender is still waiting for an
external auditor to finish a review before entering into a formal
loan agreement.

The report also notes that at the hearing, attorneys for the
Diocese and its non-debtor Catholic entities did not reveal which
real estate holdings of the church would be put up as collateral
for the 25-year-loan, which carries a variable interest rate
starting at 4.5 percent.  The Catholic Diocese Foundation and
other non-debtor Catholic entities that have offered the bulk of
the funding said they did not want their collateral identified in
court.

The Chapter 11 Plan, the AP notes, centers on a $77.4 million
settlement with some 150 alleged victims of priest sex abuse.  The
Catholic Diocese Foundation, a charitable foundation that is
separate from the diocese, would provide about $54 million of that
total, with another $15.5 million coming from insurers.  In
return, the diocese, its parishes and affiliated entities would be
released from legal claims related to the church sex abuse
scandal.  The Plan also requires church officials to turn over
internal documents detailing how the diocese handled pedophile
priests, who in many cases were allowed to continue to prey on
children for years after their abuse became known.

                  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.


CHEYENNE HOTEL: Receiver Ordered to Turn Over Colorado Property
---------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Colorado ordered
that Jeffrey Kolessar, the receiver, to turn over the property of
Cheyenne Hotel Investments, LLC, under Section 543 (a) and (b).

Prepetition, the Debtor issued a promissory note in the amount of
$7,905,209.  The note was secured by a deed of trust on the
Debtor's Colorado Springs property.  Wells Fargo Bank filed a
civil action and obtained an order appointing Jeffrey Kolessar as
receiver for the property.

In its motion, the Debtor also requested that the Bankruptcy Court
require the receiver to issue an accounting pursuant Section 543.

                      About Cheyenne Hotel

Cheyenne Hotel Investments, LLC, owns a property consisting of a
104 room hotel located in Colorado Springs, and known as Homewood
Suites by Hilton.  The company filed for Chapter 11 bankruptcy
protection (Bankr. D. Colo. Case No. 11-25379) on June 28, 2011.
The Debtor disclosed assets of $12,912,702 and liabilities of
$8,074,325 as of the Petition Date.  Thomas Quinn, Esq., at Thomas
F. Quinn, P.C., in Denver, Colorado -- tquinn@tfqlaw.com -- serves
as counsel to the Debtor.


CHICKEN OUT: Restaurants Remain Open Despite Ch. 11 Filing
----------------------------------------------------------
All ten restaurant-locations of Chicken Out Inc. will remain open
despite the owner's Chapter 11 bankruptcy filing said CEO Richard
Hindin, according to reporting by Jen Bondeson, staff writer at
Gazette.Net.  Mr. Hindin said the bankruptcy filing was necessary
as part of a plan to completely reorganize its capital structure.

Chicken Out, Inc., filed a Chapter 11 petition (Bankr. D. Md. Case
No. 11-24557) on July 14, 2011.  Robert K. Goren, Esq., at Goren,
Wolff & Orenstein, LLC, in Rockville, Maryland, serves as counsel
to the Debtor.  The Debtor estimated up to $10 million in assets
and $10 million to $50 million in debts as of the Chapter 11
filing.


CLEAR CREEK: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Clear Creek Ranch II, LLC
        P.O. Box 489
        2480 Precision Drive
        Minden, NV 89423

Bankruptcy Case No.: 11-52302

Affiliate that simultaneously filed separate Chapter 11 petition:

   Debtor                              Case No.
   ------                              --------
Clear Creek at Tahoe, LLC              11-52303

Chapter 11 Petition Date: July 18, 2011

Court: United States Bankruptcy Court
       District of Nevada (Reno)

Judge: Bruce T. Beesley

Debtors' Counsel: Amy N. Tirre, Esq.
                  LAW OFFICES OF AMY N. TIRRE
                  3715 Lakeside Drive, Ste A
                  Reno, NV 89509
                  Tel: (775) 828-0909
                  Fax: (775) 828-0914
                  E-mail: amy@amytirrelaw.com

Clear Creek Ranch II's
Estimated Assets: $10,000,001 to $50,000,000

Clear Creek Ranch II's
Estimated Debts: $10,000,001 to $50,000,000

The petitions were signed by James S. Taylor, Trustee.

A. Clear Creek Ranch II's List of 20 Largest Unsecured Creditors:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Spiker Communications                            $287,168
P.O. Box 8567
Missoula, MT 59807

Hart-Howerton                                    $129,961
One Union Street
San Francisco, CA 94111

Crop Production                                  $56,925
Services
855 E. Gregg Street, #150
Sparks, NV 89432

Head Hunter                                      $35,000

Gardner Law Firm                                 $30,969

Landscapes Unlimited,                            $24,837
LLC

Serving the Nation                               $20,000

Goodman & Associates                             $18,600

Lira's Supermarket                               $16,684

Saddington & Shusko                              $16,145

Fairway & Green                                  $12,073

Manhard Consulting                               $11,525

Peter Millar                                     $9,447

SA Engineering                                   $8,107

Sierra Restroom                                  $6,570
Solutions

PING                                             $6,359

Giesen and Kenny, PA                             $5,740

Otis Bay, Inc.                                   $5,575

Russel P. Mitchell &                             $5,567
Associates

INDEP                                            $5,114

B. Clear Creek at Tahoe's List of Three Largest Unsecured
Creditors:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Santa Barbara Bank &                             $925,000
Trust
20 E. Carrillo
Santa Barbara, CA 93101

Otis Bay, Inc.                                   $10,664
P.O. Box 919
Verdi, NV 89439

Saddington & Shusko                              $3,190
18300 Von Karman
AVe, Suite 650
Irvine, CA 92612


COMPOSITE TECHNOLOGY: Taps Mentor Group as Valuation Advisor
------------------------------------------------------------
Composite Technology Corporation and its debtor-affiliates ask the
U.S. Bankruptcy Court for the Central District of California for
permission to employ Mentor Group Inc. as their valuation advisor.

The firm will render and provide valuation opinions/reports for
the Debtors' business as a going concern and the Debtors' patents,
in connection with the Debtors' motion for use of cash collateral.

The firm will be paid:

  * A fee, based on the firm's standard per diems, expenses and
    office charges, estimated to be in the amount of $25,000; and

  * An additional nominal amount for expenses related to travel,
    living, data processing, report preparation, postage/overnight
    mail, and telecommunications.

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

                    About Composite Technology

Headquartered in Irvine, California, Composite Technology
Corporation - http://www.compositetechcorp.com/-- develops,
produces, markets and sells energy efficient and renewable energy
products for the electrical utility industry.  As of March 31,
2011, the Company has one business segment: CTC Cable Corporation.

CTC Cable produces and sells ACCC(R) conductor products and
related ACCC(R) hardware products.  ACCC(R) conductor has been
sold commercially since 2005 and is currently marketed worldwide
to electrical utilities, transmission companies and transmission
design/engineering firms.

Composite Technology filed for Chapter 11 bankruptcy (Bankr. C.D.
Calif. Case No. 11-15058) on April 10, 2011, with Judge Mark S.
Wallace presiding over the case.  The Debtor's bankruptcy case was
reassigned to Judge Scott C. Clarkson on April 13, 2011.  BCC
Advisory Services LLC, BCC Ho1dco LLC's FINRA registered
Broker/Dealer, serves as investment banker to provide exclusive
equity financing services and debt financing services.  Composite
Technology disclosed $5,855,670 in assets and $12,395,916 in
liabilities as of the Chapter 11 filing.

CTC Cable Corporation (Bankr. C.D. Calif. Case No. 11-15059) and
Stribog, Inc. (Bankr. C.D. Calif. Case No. 11-15065) also filed
for Chapter 11 protection.

The cases are jointly administered, with Composite Technology as
the lead case.  Paul J. Couchot, Esq., at Winthrop Couchot PC,
serves as the Debtors' bankruptcy counsel.  The Debtors also
tapped Marsch Fischmann & Breyfogle LLP as special intellectual
property approval counsel; Knobbe, Martens, Olson & Bear, LLP as
special patent litigation counsel; McIntosh Group as special
intellectual property counsel.

Peter C. Anderson, the U.S. Trustee for Region 16, appointed five
members to the official committee of unsecured creditors in the
Debtor's cases.  Steptoe & Johnson LLP represents the Committee.


CONTESSA PREMIUM: Asks for More Time to File Liquidating Plan
-------------------------------------------------------------
Contenna Premium Foods, Inc., asks the U.S. Bankruptcy Court for
the Central District of California to enter an order further
extending its exclusive period to file a Chapter 11 plan and to
solicit acceptances thereof to Oct. 26, 2011, and Dec. 26, 2011,
respectively.

On July 1, 2011 the Court entered an order approving the sale of
substantially all of the Debtor's assets to Premium Foods
Acquisition, Inc., a company formed by Sun Capital Partners Group
V, LLC, and the winning bidder at the June 28 auction.  The Debtor
expects to close the sale in mid-July.

The Debtor is negotiating a global settlement with the Debtor's
insiders and has begun the claims resolution process to estimate
the extent of proceeds that will be available to distribute to
creditors.  Based on the progress made in resolving these issues,
and the projected distribution to creditors, the Debtor expects to
formulate a Chapter 11 plan or to seek the structured dismissal of
this case (but only if appropriate).  The requested extension will
provide the Debtor with the necessary flexibility to resolve this
case consensually and efficiently.

                  About Contessa Premium Foods

San Pedro, California-based Contessa Premium Foods, Inc., fka ZB
Industries, Inc., and Contessa Food Products, Inc., provides farm
raised shrimp, convenience meals, stir-fry vegetables, and other
frozen food products that are marketed and sold primarily in the
United States and to a lesser extent in Canada, Europe, Asia, and
Mexico.  It divides its business into two internal groups:
Contessa Seafood, which includes its seafood items, and Contessa
"Green Cuisine," which includes all other fruit, vegetable and
complete meal blends.

Contessa Premium filed for Chapter 11 bankruptcy protection
(Bankr. C.D. Calif. Case No. 11-13454) on Jan. 26, 2011.  Craig A.
Wolfe, Esq., at Kelley Drye & Warren LLP, in New York, represents
the Debtor as counsel.  Jeffrey N. Pomerantz, Esq., and Jeffrey W.
Dulberg, Esq., at Pachulski Stang Ziehl & Jones LLP, in Los
Angeles, serve as conflicts counsel for the Debtor.  Scouler &
Company, LLC, serves as financial advisors.  Imperial Capital, LLC
serves as investment banker.  Holthouse Carlin & Van Trigt LLP
serves as auditors and accountants.  The Debtor scheduled
$49,370,438 in total assets and $35,305,907 in total liabilities.

The Official Committee of Unsecured Creditors in the Debtor's
Chapter 11 case is represented by Arent Fox LLP.  FTI Consulting
Inc. serves as its financial consultants.


CONTESSA PREMIUM: Wants Until Oct. 31 to Decide on Office Lease
---------------------------------------------------------------
Contessa Premium Foods, Inc., asks the U.S. Bankruptcy Court for
the Central District of California to extend until Oct. 31, 2011,
its statutory deadline to assume, assume and assign, or reject its
unexpired non-residential real property lease with Pacific Place
Associates LP.

The Bankruptcy Court previously approved the sale of substantially
all of the Debtor's operating assets to Premium Foods Acquisition,
Inc., which has been renamed Contessa Premium Foods, Inc., a
Delaware corporation.

The Debtor filed the asset purchase agreement with purchaser on
June 30, 2011.  Under the APA, the Debtor granted the purchaser a
limited license to occupy the premises for not less than 90 days
following the closing of the sale, which is expected to occur on
July 15.  The Debtor's current statutory deadline, however, to
decide on the office lease expires on Aug. 24, which is prior to
the expiration of the limited license on Oct. 31.

The office lease is for premises located at Pacific Place, 222
West Sixth Street, San Pedro, California.

Pacific Place has consented to the limited license and the
extension of the statutory deadline through Oct. 31, in exchange
for advance payment of rent under the office lease in the amount
of $180,539, and the waiver and release of any claim against
Pacific Place arising under section 547 of the Bankruptcy Code.

                   About Contessa Premium Foods

San Pedro, California-based Contessa Premium Foods, Inc., fka ZB
Industries, Inc., and Contessa Food Products, Inc., provides farm
raised shrimp, convenience meals, stir-fry vegetables, and other
frozen food products that are marketed and sold primarily in the
United States and to a lesser extent in Canada, Europe, Asia, and
Mexico.  It divides its business into two internal groups:
Contessa Seafood, which includes its seafood items, and Contessa
"Green Cuisine," which includes all other fruit, vegetable and
complete meal blends.

Contessa Premium filed for Chapter 11 bankruptcy protection
(Bankr. C.D. Calif. Case No. 11-13454) on Jan. 26, 2011.  Craig A.
Wolfe, Esq., at Kelley Drye & Warren LLP, in New York, represents
the Debtor as counsel.  Jeffrey N. Pomerantz, Esq., and Jeffrey W.
Dulberg, Esq., at Pachulski Stang Ziehl & Jones LLP, in Los
Angeles, serve as conflicts counsel for the Debtor.  Scouler &
Company, LLC, serves as financial advisors.  Imperial Capital, LLC
serves as investment banker.  Holthouse Carlin & Van Trigt LLP
serves as auditors and accountants.  The Debtor scheduled
$49,370,438 in total assets and $35,305,907 in total liabilities.

The Official Committee of Unsecured Creditors in the Debtor's
Chapter 11 case is represented by Arent Fox LLP.  FTI Consulting
Inc. serves as its financial consultants.


CONTESSA PREMIUM: Hires Ernst & Young LLP as Accounting Advisors
----------------------------------------------------------------
Contessa Premium Foods, Inc., seeks permission from the U.S.
Bankruptcy Court for the Central District of California to employ
Ernst & Young LLP as its accounting advisors.

Upon retention, the firm, will among other things:

   (a) obtain detailed consolidating trial balances and reconcile
       to the audited financial statements.  Discuss with Debtor's
       management the nature of: (i) each significant account and
       (ii) any unusual fluctuations;

   (b) reconcile the Debtor's internal and audited financial
       statements to reported EBITDA and management EBITDA (if
       available);

   (c) analyze projected EBITDA based on the Debtor's fiscal year-
       end 2011 forecast and bridge to historical period EBITDA;

Subject to the provisions of the Bankruptcy Code, the Bankruptcy
Rules, the Local Bankruptcy Rules, the Compensation Guide, and
this Court's rules, the Debtor proposes to compensate E&Y LLP as:

   (a) An accounting advisory fee for the Services in the amount
       of $85,000 for the initial three-week period, and fees
       for any subsequent periods will be separately negotiated
       and agreed to between E&Y LLP and the Debtor.  E&Y LLP's
       fee is based on the expectation that information required
       to complete the project is of a reasonable quality and
       readily accessible.  To the extent that this ultimately is
       not the case, E&Y LLP will notify the Debtor as soon as
       practicable to discuss an alternate arrangement and/or
       adjustment to the fee set forth herein.

   (b) Reimbursement of direct, out-of-pocket expenses that
       include, but are not limited to, all applicable taxes
       incurred in connection with the delivery of the Services
       (except for taxes imposed on E&Y LLP's income) and
       reasonable and customary out-of-pocket

                   About Contessa Premium Foods

San Pedro, California-based Contessa Premium Foods, Inc., fka ZB
Industries, Inc., and Contessa Food Products, Inc., provides farm
raised shrimp, convenience meals, stir-fry vegetables, and other
frozen food products that are marketed and sold primarily in the
United States and to a lesser extent in Canada, Europe, Asia, and
Mexico.  It divides its business into two internal groups:
Contessa Seafood, which includes its seafood items, and Contessa
"Green Cuisine," which includes all other fruit, vegetable and
complete meal blends.

Contessa Premium filed for Chapter 11 bankruptcy protection
(Bankr. C.D. Calif. Case No. 11-13454) on Jan. 26, 2011.  Craig A.
Wolfe, Esq., at Kelley Drye & Warren LLP, in New York, represents
the Debtor as counsel.  Jeffrey N. Pomerantz, Esq., and Jeffrey W.
Dulberg, Esq., at Pachulski Stang Ziehl & Jones LLP, in Los
Angeles, serve as conflicts counsel for the Debtor.  Scouler &
Company, LLC, serves as financial advisors.  Imperial Capital, LLC
serves as investment banker.  Holthouse Carlin & Van Trigt LLP
serves as auditors and accountants.  The Debtor scheduled
$49,370,438 in total assets and $35,305,907 in total liabilities.

The Official Committee of Unsecured Creditors in the Debtor's
Chapter 11 case is represented by Arent Fox LLP.  FTI Consulting
Inc. serves as its financial consultants.


CRUSADER BRAND:: Highland Gives 3 Years to Return Frozen Funds
--------------------------------------------------------------
Bloomberg News reports that Highland Capital Management LP said it
will take another three years to return most of the money from a
hedge fund it froze during the financial crisis in 2008.

According to Bloomberg, John Honis, a partner at Highland, said
Highland will immediately return about $350 million in cash to
clients from its Crusader Fund and the remaining $1.3 billion over
the next three years.  The distribution plan was approved by about
86% of the fund's investors, Mr. Honis said.

Bloomberg recalls that Highland shut its flagship Crusader fund,
as well as a second fund, in October 2008 following losses on
high-yield, high-risk loans and other types of debt.  The firm, as
cited by Bloomberg, said at the time that the funds would be
liquidated over three years. Highland and New York-based Harbinger
Capital Partners LLC are among hedge funds that haven't returned
all money to clients after freezing withdrawals following the
financial crisis, Bloomberg notes.

"Together, this completes all wind-down processes begun by
Highland during the global financial crisis," Highland said in the
statement, adding that its hedge funds account for a "small"
portion of its overall business, according to Bloomberg.

Bloomberg relates that the firm said the Crusader fund
distribution plan follows a similar agreement Highland reached
with investors earlier this year for its Credit Strategies Fund.
Highland said it waived management fees on the funds while they
were being liquidated, Bloomberg reports.

                        About Highland Capital

Highland Capital Management LP was founded by James Dondero and
Mark Okada in Dallas in 1993.  Highland Capital is the world's
largest non-bank buyer of leveraged loans in 2007.  It also
manages collateralized loan obligations.  In March 2007, it raised
$1 billion to buy distressed loans.  Collateralized loan
obligations are created by bundling together loans and repackaging
them into new securities.


CRYSTAL CATHEDRAL: Gets Judge's OK to Consider New Buyers
---------------------------------------------------------
Nicole Santa Cruz at the Los Angeles Times reports that Judge
Robert Kwan allowed the Crystal Cathedral to consider new buyers
for its 40-acre property.  The move came after the church's board
decided not to go forward with a plan for an Orange County real
estate developer to purchase the campus for $46 million.

According to the report, the bankruptcy judge approved the
church's request to partially withdraw from a reorganization plan
it filed in May in which Greenlaw Partners was named the primary
bidder for the property, entitling the real estate development
firm to a fee if outbid.  Bankruptcy filings made Monday indicated
that the church was actively seeking other offers in addition to
Greenlaw.

The next bankruptcy hearing is scheduled for Aug. 1.

The church's executive board is currently considering multiple
options -- including offers from the Roman Catholic Diocese of
Orange and Chapman University -- and will need time for financial
advisers to evaluate such proposals, the reports quotes lawyers as
saying.

The LA Times relates an amended reorganization plan is expected in
the coming months, possibly with the church naming a new buyer.

                      About Crystal Cathedral

Crystal Cathedral Ministries is a Southern California-based
megachurch founded by television evangelist Robert Schuller.  The
church, known for its television show "The Hour of Power."
Crystal Cathedral filed for Chapter 11 bankruptcy protection
(Bankr. C.D. Calif. 10-24771) on Oct. 18, 2010.  The Debtor
disclosed $72,872,165 in assets and $48,460,826 in liabilities as
of the Chapter 11 filing.  Marc J. Winthrop, Esq., at Winthrop
Couchot P.C. represent the Debtor.

Todd C. Ringstad, Esq., at Ringstad & Sanders, LLP, represents the
Official Committee of Unsecured Creditors.


CUMULUS MEDIA: Moody's Rates Proposed 2nd Lien Notes 'B2'
---------------------------------------------------------
Moody's Investors Service assigned a B2, LGD5 - 70% rating to
Cumulus Media, Inc.'s proposed $790 million of 2nd lien noted due
2018. Under the revised debt structure, the proposed 2nd lien
notes replace a portion of the previously proposed $2,040 million
of 1st lien notes. The combined term loan amount remains unchanged
and will now include $1,250 million of 1st lien notes plus $790
million of 2nd lien notes. As a result of the cushion provided by
the 2nd lien notes, ratings on 1st lien notes were upgraded. All
other ratings remain unchanged and the rating outlook remains
stable, as outlined below.

The ratings are assigned in connection with Cumulus' pending
acquisition of CMP Susquehanna Corp. and Citadel Broadcasting
Corporation. Ratings for existing facilities of Cumulus, CMP
Susquehanna, and Citadel will be withdrawn upon closing of each of
the debt issuances.

Assigned:

   Issuer: Cumulus Media Holdings Inc. (formerly Cadet Holding
   Corporation)

   -- NEW $790 million Senior Secured 2nd Lien Term Loan: Assigned
      B2 (LGD 5 -- 70%)

Upgraded:

   Issuer: Cumulus Media Holdings Inc.

   -- $375 million Senior Secured 1st Lien Revolver: Upgraded to
      Ba2 (LGD 2 -- 20%) from Ba3 (LGD 3 -- 38%)

   -- $1,250 million Senior Secured 1st Lien Term Loan (previously
      $2,040 million): Upgraded to Ba2 (LGD 2 -- 20%) from Ba3
      (LGD 3 -- 38%)

Affirmed:

   Issuer: Cumulus Media Inc.

   -- Corporate Family Rating (CFR): Affirmed B1

   -- Probability of Default Rating (PDR): Affirmed B1

   -- $610 million Senior Unsecured Notes: Affirmed B3, point
      estimates updated (to LGD 6 -- 93% from LGD 6 -- 90%) -
      expected to be assumed by Cumulus Media Holdings Inc. when
      acquisition closes

Outlook Actions:

   Issuer: Cumulus Media Inc.

   -- Outlook is Stable

RATING RATIONALE

The B1 corporate family rating reflects Cumulus' high pro forma
debt-to-EBITDA leverage of approximately 5.7x estimated for
12/31/2011 (including Moody's standard adjustments and treating
75% of preferred shares as debt, if issued) and assuming selling
shareholders of Citadel require the maximum amount of cash
payments, instead of stock. Ratings also reflect the cyclical
nature of radio advertising demand evidenced by the revenue
declines suffered by radio broadcasters during the recent
recession, fragmentation of media outlets, and potential
challenges associated with a large acquisition (Citadel has $740
million in revenue and 225 stations compared to $445 million in
revenue and 346 stations for the combined Cumulus and CMP).
Ratings are supported by the company's national scale, geographic
and market diversity as well as expected 40% EBITDA margins. Post-
transactions, Cumulus is expected to generate more than $300
million of annual free cash flow, or 10% of debt balances, from a
well-clustered radio station portfolio that is effectively
diversified by programming formats and audience demographics.
Although revenues are expected to grow in the low to mid-single
digit range through 2012, planned cost reductions will contribute
to increasing free cash flow generation and debt reduction
resulting in improved credit metrics. "Management has a multi-year
track record of refining its proprietary technology platform and
has been successful in driving down costs resulting in industry
leading EBITDA margins. Management also confirms its strategy to
reduce debt balances and targets reported gross debt-to- EBITDA
ratios of 4.0x or better to gain operational and financial
flexibility. In Moody's opinion, Cumulus' experienced management
team and commitment to reduce debt balances provide rating
support," stated Carl Salas, a Moody's Vice President and Senior
Analyst.

Moody's believes the acquisitions will receive regulatory
approvals and be completed by year end 2011 based on minimal
market overlap in 6 markets. Approximately 13 stations have been
identified for transfer to a trustee. Ratings assume successful
execution; however, in the unlikely event the Citadel acquisition
is not completed and there are no equity injections, the proposed
$375 million revolver, $1,250 million 1st lien term loan, and $790
million 2nd lien term loan would not be needed, and ratings could
be downgraded given debt-to-EBITDA leverage of approximately 6.7x
for the Cumulus borrowing group (including Moody's standard
adjustments and assuming payment of Cumulus' portion of the
termination fee).

The stable outlook reflects Moody's view that the acquisitions of
CMP Susquehanna and Citadel will be completed in the expected time
frame and that revenue and EBITDA will track along management's
plan including success in achieving most of its synergy targets.
"The outlook also incorporates Moody's expectation that Cumulus
will maintain good liquidity and use free cash flow to reduce
revolver or term loan balances resulting in debt-to-EBITDA
leverage remaining below 6.0x (including Moody's standard
adjustments) with free cash flow-to debt ratios of more than 9% in
the near term. Financial metrics are expected to improve
thereafter, consistent with management's target of 4.0x reported
gross debt-to-EBITDA (or approximately 4.1x including Moody's
standard adjustments)," added Salas.

Ratings could be upgraded if debt-to-EBITDA ratios are sustained
below 4.5x (including Moody's standard adjustments) with good
liquidity including free cash flow-to-debt ratios remaining above
10%. Absent sizable acquisitions, debt balances would also need to
remain below $2.4 billion to accommodate likely EBITDA
fluctuations in an economic downturn.

Ratings could be downgraded if debt-to-EBITDA ratios are sustained
above 6.0x (including Moody's standard adjustments) due to the
inability to achieve planned synergies or due to deterioration in
performance as a result of increased competition in key markets,
an economic downturn, or audience and advertising revenue
migration to competing media platforms. Ratings could also be
downgraded if leveraging events such as debt financed acquisitions
or dividends result in debt-to-EBITDA ratios being sustained above
6.0x or if there is deterioration in liquidity. In the unlikely
scenario the Citadel acquisition is not completed as planned and
an equity injection is not funded, the CFR would likely be
downgraded given potential debt-to-EBITDA ratios of approximately
6.7x for the Cumulus borrowing group (including Moody's standard
adjustments and assuming payment of Cumulus' portion of the
termination fee), a lower revenue base, as well as the absence of
broader geographic and market diversification. In addition,
coverage ratios would be weaker with approximately 1.8x EBITDA
coverage of interest expense compared to approximately 3.2x under
the Citadel acquisition scenario, and the committed revolver
facility due May 2012 would be relatively small at only $20
million. Ratings on the new $610 million of Senior Unsecured Notes
could potentially be downgraded.

The principal methodology used in rating Cumulus was the Global
Broadcast Industry Methodology, published June 2008.

Corporate Profile:

Headquartered in Atlanta, Georgia, Cumulus Media Inc. ("Cumulus")
is one of the nation's largest radio broadcasting companies,
currently operating approximately 312 radio stations in 60 mid-
sized markets. In 1Q2011 the company announced the acquisition of
the remaining 75% of CMP Susquehanna Corporation ("CMP") it did
not already own followed by the announcement that it entered into
a definitive agreement to acquire Citadel Broadcasting Corporation
("Citadel"). Pro forma for these two acquisitions, Cumulus will be
the second largest U.S. radio group with approximately 571
properties and $1.2 billion in station and network revenues as of
December 2010. Cumulus is publicly traded; post-acquisitions the
company will be owned 18%-27% by Crestview Partners, 7%-10% by the
Dickey family, and the remainder will be broadly held among
existing Cumulus and CMP shareholders as well as former Citadel
shareholders.


DUKE AND KING: Has Yet to Decide on Two Leases
----------------------------------------------
Duke and King Acquisition Corp. and its debtor-affiliates ask the
U.S. Bankruptcy Court for the District of Minnesota to extend
until Sept. 30, 2011, the time within which they must assume or
reject two unexpired nonresidential real property leases.

The Debtors have sold substantially all of their operating assets
and have ceased operations.  The Debtors have either assumed and
assigned or rejected 90 of the 92 nonresidential real property
leases that were in place on the Petition Date.  The following two
nonresidential real property leases have not yet been assumed,
assumed and assigned or rejected.

Debtor                        Type of Lease         Landlord
------                        -------------         --------
Duke and King Missouri, LLC    Non-residential real  First Sunrise
Store #1558                    property lease        LLC

Duke and King Missouri, LLC    Ground lease          Wood Family
Store #12413                                         Limited
                                                     Partnership

The Debtors are not yet in a position to make a reasoned decision
to assume or reject the Leases.  It is possible that a buyer may
want to acquire certain personal property located at Store #12413.
Additionally, the Debtors are in the process of working through
the insurance claims for Store #1558, which was destroyed by the
devastating tornado that hit Joplin, Missouri in May.

               About Duke and King Acquisition Corp.

Burnsville, Minnesota-based Duke and King Acquisition Corp., dba
Burger King, was formed in November 2006, to acquire 88 Burger
King franchise restaurants from the Nath Companies.  Duke and
King, together with affiliates, filed for Chapter 11 bankruptcy
protection (Bankr. D. Minn. Lead Case No. 10-38652) on Dec. 4,
2010.  Duke and King estimated its assets and debts at $10 million
to $50 million.

Clinton E. Cutler, Esq., and Douglas W. Kassebaum, Esq., at
Fredrikson & Byron, P.A., serve as the Debtors' bankruptcy
counsel.  Mastodon Ventures, Inc., acts as the Debtors' investment
banker.  Maslon Edelman Borman & Brand, LLP serves as local
counsel and Aaron L. Hammer, Esq., and Richard S. Lauter, Esq., at
Freeborn & Peters LLP, in Chicago, is the bankruptcy counsel to
the Official Committee Of Unsecured Creditors.  Mesirow Financial
Consulting, LLC, serves as financial advisors of the Committee.


ELEPHANT & CASTLE: Has Until July 28 to Files Schedules
-------------------------------------------------------
The U.S. Bankruptcy Court for the District of Massachusetts
extended until July 28, 2011, Massachusetts Elephant & Castle
Group and its affiliates' time to file, among other things,
schedules of assets and liabilities, schedules of executory
contracts and unexpired leases, and statements of financial
affairs.  The Debtors related that they needed additional time to
assemble and compile the information necessary to prepare the
documents.

                      About Elephant & Castle

Boston-based Massachusetts Elephant & Castle Group and its
affiliates operate 21 British-style restaurant pubs in the U.S.
and Canada.  Ten locations are in the U.S.

Elephant & Castle filed for Chapter 11 protection (Bankr. D. Mass.
Lead Case No. 11-16155) on June 28, 2011.  Bankruptcy Judge Henry
J. Boroff presides over the case.  John G. Loughnane, Esq. at
Eckert Seamans Chein& Mellott, LLC represents the Debtor in its
restructuring effort.  Repechage Investments' estimated assets and
debts at $10 million to $50 million.  Other Debtors' estimated
assets and debts at $0 to $10 million.


ELEPHANT CASTLE: Seeks to Tap Rose Group as Litigation Counsel
--------------------------------------------------------------
Elephant & Castle Inc. and its debtor affiliates seek authority
from the U.S. Bankruptcy Court for the District of Massachusetts
to employ The Rose Group, APLC, as special litigation counsel.

As counsel, Rose Group will render:

   (a) legal advice on labor and employment matters concerning the
       Debtors' operations in San Diego, California; and

   (b) legal advice and acting as the Debtors' Chief Negotiator in
       their current negotiations for a new collective bargaining
       agreement with UNITE HERE Local 30, AFL-CIO in San Diego,
       California.

The Debtors will pay Rose Group $350 per hour for attorneys and
$90 to $105 per hour for paralegals.  The Debtors will also
reimburse the firm for necessary out-of-pocket expenses.

Kenneth J. Rose, Esq., at The Rose Group, APLC, assures the Court
that his firm is a "disinterested person" as the term is defined
in Section 101(14) of the Bankruptcy Code and does not represent
any interest adverse to the Debtors or their estates.

Mr. Rose discloses that as of the Petition Dates, the Debtors owe
the Rose Group $2,625 for services rendered prepetition.  The Rose
Group also holds a $6,000 retainer from which it will satisfy the
prepetition amounts.  The Rose Group, he says, will hold in a
client trust account the remainder of the retainer to cover
postpetition services.

                      About Elephant & Castle

Boston-based Massachusetts Elephant & Castle Group and its
affiliates operate 21 British-style restaurant pubs in the U.S.
and Canada.  Ten locations are in the U.S.

Elephant & Castle filed for Chapter 11 protection (Bankr. D. Mass.
Lead Case No. 11-16155) on June 28, 2011.  Bankruptcy Judge Henry
J. Boroff presides over the case.  John G. Loughnane, Esq. at
Eckert Seamans Chein& Mellott, LLC represents the Debtor in its
restructuring effort.  Repechage Investments' estimated assets and
debts at $10 million to $50 million.  Other Debtors' estimated
assets and debts at $0 to $10 million.


EMIVEST AEROSPACE: 363 Sale of Assets Completed
-----------------------------------------------
The investment banking firm of Morgan Joseph TriArtisan LLC,
announced the sale of substantially all of the assets of Emivest
Aerospace Corp., in a sale pursuant to Section 363 of the
Bankruptcy Code.  Emivest is the producer of the SJ30, the world's
fastest, highest flying and longest range light business jet.

Emivest, despite an order backlog for over 200 SJ30s, a light
engine plane employing advanced aerodynamics that had received
U.S. FAA certification in October 2005, encountered difficulty
after its then majority owner, a leading investment fund based in
the United Arab Emirates, was unable to continue funding the
Company''s operating costs and working capital needs due to
depressed economic and credit conditions in the Emirates.

Faced with a liquidity shortfall, Emivest retained Morgan Joseph's
Financial Restructuring Group, headed by James D. Decker.  Over
the course of approximately thirty days, the Financial
Restructuring Group raised debtor-in-possession financing for
Emivest to support a voluntary bankruptcy filing.  The Financial
Restructuring Group then effected a widely marketed asset sale of
Emivest pursuant to Section 363 of the U.S. Bankruptcy Code.  The
purchaser of the Emivest assets was MT, LC, a Utah-based limited
liability corporation that is an affiliate of Metalcraft
Technologies, Inc., based in Cedar City, Utah.

                     About Morgan Joseph

Morgan Joseph TriArtisan LLC -- http://www.mjta.com/-- is an
investment bank engaged in providing financial advice, capital
raising and private equity investing.  The firm's services include
mergers, acquisitions and restructuring advice, in addition to
private placements and public offerings of equity and debt, as
well as research and trading services for institutional clients.

                   About Emivest Aerospace

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

Emivest Aerospace Corporation filed for Chapter 11 protection
(Bankr. D. Del. Case No. 10-13391) on Oct. 20, 2010.  Emivest
disclosed $80,700,232 in assets and $77,333,546 in liabilities as
of the Chapter 11 filing.

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


EMIVEST AEROSPACE: Sale Price to Dictate Terms of Ch. 11 Plan
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware extended
Emivest Aerospace Corporation's exclusive periods to file and
solicit acceptances for the proposed chapter 11 plan until
Aug. 16, 2011, and Oct. 15, respectively.

As reported in the Troubled Company Reporter on June 27, 2011, the
Debtor said in its motion to extend that it needed more time to
market its final major asset, the West Virginia Lease.  The Debtor
related that the price at which the West Virginia Lease is
eventually sold will largely dictate the terms of the chapter 11
plan.

In a separate court filing, the Debtor said it has withdrawn its
motion to extend the deadline to assume or reject certain
unexpired leases of nonresidential real property.

As of Petition Date, the Debtor was party to certain unexpired
leases of non-residential real property, including sublease
agreements, dated as of Oct. 27, 2008, between Security AirPark,
Inc., as lessee, and the Debtor, as sublessess, relating to hangar
No. 3 and Hangar No. 4 located at 411 and 447 Sandau Road, San
Antonio, Texas.   The Debtor had filed a motion for an Aug. 16
extension of the deadline to decide on the leases.

                      About Emivest Aerospace

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

Emivest Aerospace Corporation filed for Chapter 11 protection
(Bankr. D. Del. Case No. 10-13391) on Oct. 20, 2010.  Emivest
disclosed $80,700,232 in assets and $77,333,546 in liabilities as
of the Chapter 11 filing.

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


EVERGREEN PLAZA: Has Until Aug. 12 to File Schedules & Statements
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
extended until Aug. 12, 2011, Evergreen Plaza Investment-DE, LLC
time to file its schedules and statement of financial affairs.

                       About Evergreen Plaza

Evergreen Plaza Investment-DE, LLC; 15352 Vanowen Street
Apartments-DE, LLC; Normandie Court III-DE, LLC; Westlake
Evergreen-DE, LLC, jointly own, as Tenants-in-Common, 100% of real
property located at 3637-3755 E. Thousand Oaks Blvd., Thousand
Oaks, California.  The percentage of ownership is: Evergreen
(54.31%), Normandie (10.74%), Westlake (25%), and Vanowen (9.95%).
The four entities jointly operate the Real Property pursuant to a
Tenancy in Common Agreement executed between them on Oct. 28,
2004.  The Real Property is a commercial complex of about 38 units
with 21 units rented at this time.

The Real Property is managed by Kaufman Properties, owned by Mark
Kaufman, and JDS Real Estate, Inc. owned by Jason Schwetz. The
leasing broker is JDS Real Estate, Inc. who is presently showing
the spaces.

The four entities filed for Chapter 11 bankruptcy on June 28,
2011, to stop a foreclosure sale by secured creditor LNR Partners.
Evergreen Plaza Investment-DE (Bankr. C.D. Calif. Case No. 11-
17858); Westlake Evergreen-DE, LLC (Bankr. C.D. Calif. Case No.
11-17874); 15352 Vanowen Street Apartments-DE (Bankr. C.D. Calif.
Case No. 11-17870); and Normandie Court III-DE (Bankr. C.D. Calif.
Case No. 11-17872), estimated $10 million to $50 million in both
assets and debts in their petitions.   The law offices of M.
Jonathan Hayes serve as the Debtors' counsel.

The Debtors value the Real Property at roughly $13 million. Total
secured debt exceeds $17 million.  Each of the Debtors said their
case is a single asset case.


EVERGREEN PLAZA: Ch. 11 Case Transferred to Judge Geraldine Mund
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
has transferred the Chapter 11 case of Evergreen Plaza Investment-
DE, LLC to the calendar of Bankruptcy Judge Geraldine Mund for all
further proceedings.  The case was previously assigned to
Bankruptcy Judge Victoria S. Kaufman.  The bankruptcy case number
will remain the same.  However, the judge's initials must be
changed to GM on all future documents filed with the Court.

                       About Evergreen Plaza

Evergreen Plaza Investment-DE, LLC; 15352 Vanowen Street
Apartments-DE, LLC; Normandie Court III-DE, LLC; Westlake
Evergreen-DE, LLC, jointly own, as Tenants-in-Common, 100% of real
property located at 3637-3755 E. Thousand Oaks Blvd., Thousand
Oaks, California.  The percentage of ownership is: Evergreen
(54.31%), Normandie (10.74%), Westlake (25%), and Vanowen (9.95%).
The four entities jointly operate the Real Property pursuant to a
Tenancy in Common Agreement executed between them on Oct. 28,
2004.  The Real Property is a commercial complex of about 38 units
with 21 units rented at this time.

The Real Property is managed by Kaufman Properties, owned by Mark
Kaufman, and JDS Real Estate, Inc. owned by Jason Schwetz. The
leasing broker is JDS Real Estate, Inc. who is presently showing
the spaces.

The four entities filed for Chapter 11 bankruptcy on June 28,
2011, to stop a foreclosure sale by secured creditor LNR Partners.
Evergreen Plaza Investment-DE (Bankr. C.D. Calif. Case No. 11-
17858); Westlake Evergreen-DE, LLC (Bankr. C.D. Calif. Case No.
11-17874); 15352 Vanowen Street Apartments-DE (Bankr. C.D. Calif.
Case No. 11-17870); and Normandie Court III-DE (Bankr. C.D. Calif.
Case No. 11-17872), estimated $10 million to $50 million in both
assets and debts in their petitions.   The law offices of M.
Jonathan Hayes serve as the Debtors' counsel.

The Debtors value the Real Property at roughly $13 million. Total
secured debt exceeds $17 million.  Each of the Debtors said their
case is a single asset case.


EVERGREEN PLAZA: Meeting of Creditors on Aug. 23
------------------------------------------------
A meeting of creditors of Evergreen Plaza has been continued on
August 23, 2011, at 10:00 a.m. at:

     21051 Warner Center Lane, Suite 105
     Woodland Hills
     CA 91367

A separate court filing says that the Debtor has sought the
Bankruptcy Court's approval to use cash collateral.

                       About Evergreen Plaza

Evergreen Plaza Investment-DE, LLC; 15352 Vanowen Street
Apartments-DE, LLC; Normandie Court III-DE, LLC; Westlake
Evergreen-DE, LLC, jointly own, as Tenants-in-Common, 100% of real
property located at 3637-3755 E. Thousand Oaks Blvd., Thousand
Oaks, California.  The percentage of ownership is: Evergreen
(54.31%), Normandie (10.74%), Westlake (25%), and Vanowen (9.95%).
The four entities jointly operate the Real Property pursuant to a
Tenancy in Common Agreement executed between them on Oct. 28,
2004.  The Real Property is a commercial complex of about 38 units
with 21 units rented at this time.

The Real Property is managed by Kaufman Properties, owned by Mark
Kaufman, and JDS Real Estate, Inc. owned by Jason Schwetz. The
leasing broker is JDS Real Estate, Inc. who is presently showing
the spaces.

The four entities filed for Chapter 11 bankruptcy on June 28,
2011, to stop a foreclosure sale by secured creditor LNR Partners.
Evergreen Plaza Investment-DE (Bankr. C.D. Calif. Case No. 11-
17858); Westlake Evergreen-DE, LLC (Bankr. C.D. Calif. Case No.
11-17874); 15352 Vanowen Street Apartments-DE (Bankr. C.D. Calif.
Case No. 11-17870); and Normandie Court III-DE (Bankr. C.D. Calif.
Case No. 11-17872), estimated $10 million to $50 million in both
assets and debts in their petitions.   The law offices of M.
Jonathan Hayes serve as the Debtors' counsel.

The Debtors value the Real Property at roughly $13 million. Total
secured debt exceeds $17 million.  Each of the Debtors said their
case is a single asset case.


EXCO RESOURCES: S&P Affirms 'BB-' Corporate Credit Rating
---------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB-' corporate
credit rating and 'B' issue rating on Dallas-based EXCO and its
unsecured debt, and removed all ratings from CreditWatch with
negative implications, where it had placed them on Nov. 2, 2010.
The outlook is stable.

"The rating actions follow the special committee of the board of
directors of EXCO Resources Inc.'s announcement that it had
concluded its review of strategic alternatives to maximize
shareholder value, including assessing EXCO Chairman and CEO Doug
Miller's buyout proposal," said Standard & Poor's credit analyst
Patrick Y. Lee. The original buyout proposal contemplated
acquisition of all outstanding EXCO shares for $20.50 per share in
cash, but was later revised to 81% of EXCO shares at $18.50 per
share, of which $13.52 per share would be in cash and
approximately $4.98 per share in stated value would be in post-
transaction EXCO equity. The special committee rejected Mr.
Miller's revised proposal and terminated the strategic
alternatives review process after concluding that no other
proposals would likely be received in the near term.

"The ratings on EXCO reflect what we consider to be the company's
aggressive financial risk profile and weak business risk profile.
We see leverage reaching 3x by year-end as the company outspends
operating cash flow and returns to its historically acquisitive
growth strategy. Although we expect EXCO's midsize reserve base to
experience solid growth and production from its promising shale
plays, the company's focus on natural gas leaves it susceptible to
the weak natural gas pricing environment and unable to generate
sufficient operating cash flow to offset the increased capital
spending," S&P stated.

The stable outlook is based on EXCO's promising development
efforts that should maintain the company's financial performance
and keep credit metrics in line with the 'BB-' rating. "We could
take a negative rating action if poor natural gas prices and weak
production results suggest a likely deterioration in financial
performance, including leverage of more than 3.5x. In addition to
soft natural gas market conditions, the company's moderate size
and limited diversity of operations (compounded by a very
aggressive financial policy) suggest minimal prospects in the near
term for a positive rating action," S&P added.


FGIC CORP: New Plan Proposal Deadline Expires Oct. 1
----------------------------------------------------
The Hon. Stuart M. Bernstein of the U.S. Bankruptcy Court for the
Southern District of New York extended FGIC Corporation's
exclusive periods to file a proposed Chapter 11 plan and solicit
acceptances for that plan until Oct. 1, 2011, and Dec. 1,
respectively.

As reported in the Troubled Company Reporter on June 28, the
Debtor stated that it will use the extension to explore a new plan
proposal from one potential investor that was recently introduced
to the Debtor by the official committee of unsecured creditors.

The Debtor filed a plan of reorganization on the first day of the
case, but has not yet sought confirmation of the Plan.  Because of
the ongoing restructuring of wholly owned subsidiary, Financial
Guaranty Insurance Company, directly impacts the Plan, the Debtor
believes that pushing forward with the Plan at this time would be
premature.  In addition, the Debtor has continued to engage in
ongoing and constructive discussions with the Creditors Committee
and other creditor constituencies regarding "value-maximizing"
alternatives to the Plan.

According to the Debtor's case docket, the hearing to consider
adequacy of the Disclosure Statement is adjourned to Sept. 15,
at 10:00 a.m. (prevailing Eastern Time).

                      The Chapter 11 Plan

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

                         About FGIC Corp.

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

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

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


FILI ENTERPRISES: Wants Dismissal After Splitting Sale Proceeds
---------------------------------------------------------------
Fili Enterprises, Inc., asks the U.S. Bankruptcy Court for the
Southern District of California to dismiss its Chapter 11 case
after it completes the distribution of the remaining proceeds from
the sale of its assets.

Upon consummating the 11 U.S.C. Sec. 363 sale of all of its assets
in August last year, the Debtor transferred to Wreath Equity LLC
all of its property and business operations in exchange for Wreath
Equity LLC assuming certain liabilities, contributing certain
cash, and allowing the Debtor to retain other cash that was earned
during the course of the Debtor's business operations prior to the
sale.  That left the Debtor with approximately $2.5 million in
proceeds, but no assets and no ability to either function any
longer as a going concern, or meaningfully reorganize.

As part of the sale process, the Debtor negotiated with Wreath
Equity and the Official Committee of Unsecured Creditors for an
allocation of the Sale proceeds to fully pay all non-professional
administrative claims and Committee professional fees; set aside
an agreed "carve-out" to distribute to unsecured creditors; and
apply the remainder of the cash to pay a portion of the fees and
costs owing to the Debtor's professionals.

The Debtor currently has $1,950,930 in sale proceeds remaining.
To resolve all remaining claims, the Debtor proposes this fund
distribution:

     a. U.S. Trustee Fees of $11,375 will be paid in full.

     b. The Debtor has reduced the amount of general unsecured
        claims against the estate from $10.5 million to
        $4.3 million.  Recovery for unsecured creditors is
        increased from 1.9 cents on the dollar to 4.3 cents.

     c. The Debtor intends to fully pay all allowed priority tax
        claims aggregating $25,676.

     d. The Debtor has reduced the amount of non-professional
        administrative claims from $1.6 million to $890,000 and
        intends to fully pay these claims.

     e. The outstanding amounts currently owed to the Debtor's
        professionals total $1,344,333.  The Debtor intends to pay
        all fees awarded by the Court to Debtor's professionals on
        a pari passu basis.  The Debtor projects that the Debtor's
        professionals will be paid 77.2 cents on the dollar.

Brendan P. Collins, Esq., at Brownstein Hyatt Farber Schreck LLP,
tells the Court that following the sale, the Debtor no longer has
an operational business, has no employees, has no prospects for
rehabilitation, and can't effectuate a plan of reorganization.

The U.S. Trustee agrees that dismissal better serves the interests
of creditors rather than conversion to Chapter 7.

The U.S. Trustee, however, has proposed pre-conditions to
dismissal.  The pre-conditions include that all monthly operating
reports of the Debtor should be brought current and all proposed
payments to creditors occur prior to the entry of any dismissal
order.

                      About Fili Enterprises

Fili Enterprises Inc., which owns the Daphne's Greek Cafe, filed
for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court
in San Diego, California (Bankr. S.D. Calif. Case No. 10-00324),
listing assets and liabilities of between $10 million and
$50 million.

Fili Enterprises operates 67 Greek restaurants mostly in Southern
California.  Fili also does business under the names Daphne's
Greek Express.

Unsecured and priority creditors are owed $3.7 million. U.S.
Foodservice Inc., owed $1.1 million, is the unsecured creditor
with the largest listed claim.

Chief Executive George Katakalidis, a former professional soccer
player, founded the company in 1988.


FORGITRON LLC: Kamylon Sells Business for $22-Mil. to Accuride
--------------------------------------------------------------
Boston based, Kamylon Capital, has sold substantially all of the
assets of its portfolio company, Forgitron Technologies, to
Accuride Corporation.  Forgitron designs, manufactures and
distributes rotary-forged aluminum wheels for the Class 8 truck
market.  Assets included an 80,000 square foot forging facility
located in Camden, South Carolina.

"The acquisition of Forgitron Technologies by Accuride not only
validates Kamylon's investment thesis but as well proves what an
operationally focused investment firm can accomplish," commented
Todd Latouf, former President and CEO of Forgitron and Operating
Partner of Kamylon Capital.  He went on to say, "I am proud of the
efforts and goals accomplished by the Forgitron team and look
forward to seeing what they will accomplish at Accuride."  The
transaction closed on June 20, 2011.

Kamylon Capital is a private, principal investing firm making
control equity investments in small to middle market businesses.
By taking a hands-on, operational approach to its portfolio,
Kamylon and its in house group of Operating Partners are able to
mitigate risk, drive change and create value through a proprietary
process Kamylon calls "managerial investing".

                       About Accuride Corp.

Evansville, Indiana-based Accuride Corporation --
http://www.accuridecorp.com/-- manufactures and supplies
commercial vehicle components in North America.

Accuride, along with affiliates, filed for Chapter 11 protection
(Bankr. D. Del. Lead Case No. 09-13449) on Oct. 8, 2009.  Latham &
Watkins LLP and Young Conaway Stargatt & Taylor, LLP served as
counsel to the Debtors.  Accuride emerged from bankruptcy in
February 2010.

                          *     *     *


Accuride carries a 'B' corporate credit rating and stable outlook
from Standard & Poor's.

                         About Forgitron

Forgitron LLC was formed in 2005 to manufacture aluminum wheels
for Accuride Corporation pursuant to the terms of a supply
agreement between the parties, under which Accuride was to
purchase 12,000 units per month from Forgitron.  It suspended
operations in April 2007 following a dispute with Accuride.

Forgitron filed for chapter 11 protection on March 15, 2008,
before the U.S. Bankruptcy Court for the Northern District of Ohio
(Case Nos. 08-11762 and 08-11763).  The Debtors are represented by
Harry W. Greenfield, Esq., in Buckley King, LPA.

Kamylon Capital LLC acquired Forgitron's assets out of bankruptcy
for $9 million in 2008.  Kamylon restarted the plant after
acquiring the business.


FREE AND CLEAR: U.S. Trustee Wants MORs & Fees Before Dismissal
---------------------------------------------------------------
August B. Landis, the United States Trustee for Region 17, objects
with the Hon. Bruce A. Markell of the U.S Bankruptcy Court for the
District of Nevada to Free and Clear Holding Company III LLC's
motions to (i) dismiss Chapter 11 case and (ii) allow witdhrawal
as counsel for Christina A. DiEdoardo and Amberlea S. Davis.

The U.S. Trustee says the Debtor should file its monthly operating
reports and pay the quarterly U.S. Trustee fees before dismissal
is approved.

                   About Free and Clear Holding

Las Vegas, Nevada-based Free and Clear Holding Company II LLC is a
Nevada limited liability company, formed on March 9, 2011, with
Garth Johnson as the managing member.  According to the Debtor's
schedules, it holds a 1/8 interest in each of 241 pieces of real
property: 205 in California, 23 in Nevada, 5 in Texas, 3 in
Washington, and, one each in North Carolina, Tennessee, Oklahoma,
Florida, and Arizona.  The Company filed for Chapter 11 bankruptcy
protection (Bankr. D. Nev. Case No. 11-15145) on April 6, 2011, 28
days after it was formed.  Christina Ann-Marie Diedoardo, Esq., at
the Law Offices of Christina Diedoardo, in San Francisco, Calif.,
serves as the Debtor's bankruptcy counsel.


FREECREST INVESTMENTS: Suit v. PrivateBank Remanded to State Court
------------------------------------------------------------------
District Judge Ronald A. Guzman remanded to state court the
lawsuits captioned as, Freecrest Investments, LLC, Donald J.
Kinsella and Julie Kinsella, Plaintiffs, v. The PrivateBank and
Trust Co., The Founders Bank and The Founders Group, Inc.,
Defendants; and The PrivateBank and Trust Co., Cross-Plaintiff, v.
Freecrest Investments, LLC; CCL Corp.; Best Construction Services,
Inc. d/b/a G & J Services Group, Inc.; Oak Lawn Blacktop Paving
Co., Inc.; Timm Electric, Inc.; Reger Development, LLC; Midwest
Fire Supression, Inc.; Custom Color Corp., Inc.; Express Signs and
Lighting Maintenance, Inc.; Alpine Concrete, Inc.; Adelmann
Construction Inc.; Minooka Grain, Lumber & Supply Inc.; K.G.
Builders, Inc.; Sinnot Engineering, P.C.; Jones Building Products,
Llc; unknown owners and non-record claimants, Cross-Defendants,
No. 10 C 8235 (N.D. Ill.).

On Jan. 22, 2010, Freecrest filed a complaint in the Circuit Court
of Will County, Illinois, alleging breach of contract against
PrivateBank for failing to complete the funding of a construction
loan.  On March 2, 2010, PrivateBank filed a complaint in the
Circuit Court of Will County, Illinois seeking foreclosure of its
mortgage securing the construction loan.  Thereafter, PrivateBank
filed a cross-claim action naming 13 mechanic's lien claimants, as
well as, unknown owners and non-record claimants as defendants to
its foreclosure suit.  The actions were consolidated in the state
court.  Pursuant to 28 U.S.C. Sections 1441 and 1452(a),
PrivateBank removed the action to federal court.  Freecrest seeks
to remand the case to state court pursuant to Sec. 1452(b).

"[R]emanding this case would save judicial resources by stopping
this Court from having to decide motions the state court has
already addressed, such as the currently pending motion for
appointment of a receiver.  Moreover, the state court has more
experience with this case as it has already addressed issues
regarding the sufficiency of the pleadings, appointment of a
receiver and a motion for sanctions, and more expertise as the
case involves only issues of state law," Judge Guzman said.

Judge Guzman held that remanding the case will not cause
inconsistent results or adversely affect the bankruptcy proceeding
as both parties agree that confirmation of one of the proposed
plans in Freecrest's bankruptcy case will ultimately control this
action, and this case has no influence or affect on which plan
will be chosen.

A copy of the Court's July 15, 2011 Memorandum Opinion and Order
is available at http://is.gd/SYMFrSfrom Leagle.com.

                    About Freecrest Investments

Freecrest Investments, LLC, based in Shorewood, Illinois, filed
for Chapter 11 bankruptcy (Bankr. N.D. Ill. Case No. 10-43501) on
Sept. 29, 2010.  Judge Eugene R. Wedoff presides over the case.
Chris D. Rouskey, Esq. -- rouskey-baldacci@sbcglobal.net -- at
Rouskey and Baldacci, serves as bankruptcy counsel.  The Debtor
scheduled assets of $7,456,200 and liabilities of $4,640,454.  The
petition was signed by Donald J. Kinsella, its manager.


GENE HARDWICK: Meeting of Creditors Today
-----------------------------------------
Don Dodson at the News-Gazette reports that a meeting of creditors
of Gene T. Hardwick has been scheduled for July 21, 2011, at 11
a.m., in Room 208 of the Federal Building in Danville.

Gene Hardwick, an architect from Champaign, Illinois, filed a
Chapter 11 bankruptcy petition (Bankr. C.D. Ill. Case No. 11-
91237) on June 28, 2011, disclosing assets of $9.62 million and
liabilities of nearly $9.33 million.

According to the News-Gazette, nearly $9 million of the assets
Hardwick listed were in real estate, including two office
buildings, two 18-unit apartment buildings, a 48-unit apartment
building, and a 4-unit apartment building.

The report relates that Longview State Bank in Sidney filed a
mortgage-foreclosure complaint last October involving the four
apartment buildings and the office buildings.  Longview State
Bank, owed more than $6 million, holds first and second mortgages
on the properties.


GENERAL MOTORS: Kansas Court Dismisses Creamer Tort Suit
--------------------------------------------------------
District Judge Carlos Murguia denied a tort claimant's request for
$2 million in damages against General Motors and Motors
Liquidation Company, and dismissed the claimant's lawsuit.

Marjorie A. Creamer filed an action pro se and in forma pauperis
against GM and Motors Liquidation, asserting product liability and
personal injury claims, as well as claims under the Americans with
Disabilities Act and Kansas consumer protection laws.  The
defendants failed to appear or otherwise defend, and the Clerk of
the Court entered default against defendants on June 6, 2011.

Subsequently, Motors Liquidation filed a Notice of Bankruptcy,
suggesting that any action taken against it defendant without
obtaining relief from the automatic stay or the Plan Injunction
from the Bankruptcy Court may be void ab initio.

Judge Murguia is concerned that, even if judgment was proper, the
District Court lacks authority to enter judgment against an entity
subject to an automatic stay in bankruptcy.

The case is Marjorie A. Creamer, v. General Motors Corporation, et
al., No. 11-4028-CM/DJW (D. Kan.).  A copy of the Court's July 15,
2011 Memorandum and Order is available at http://is.gd/4yTIhQfrom
Leagle.com.

                     About General Motors

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

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

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

                     About Motors Liquidation

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

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

The Bankruptcy Court entered an order confirming the Debtors'
Second Amended Joint Chapter 11 Plan on March 29, 2011.  The Plan
was declared effect on March 31.


GLC LIMITED: Suit Accuses Donnans of Profiting from Ponzi Scheme
----------------------------------------------------------------
John Barr at ESPN, citing court documents, reports that Jim Donnan
has been accused of making millions of dollars from a Ponzi scheme
that also enriched his three children and their spouses. The
federal court documents are part of a larger bankruptcy case
involving West Virginia-based company GLC Ltd.

According to the court documents, Mr. Donnan and his wife, Mary,
"solicited investments from more than 50 individuals and entities
to GLC" and made commissions ranging from 15% to 20% for any new
investments solicited.

"James Donnan is substantially, if not principally, responsible
for the initiation and operation of a far-reaching ponzi scheme
that defrauded GLC and its investors of approximately
$27,752,159," according to papers filed with the court.

The suit claims the Donnans and their family members made more
than $14.5 million from GLC in the form of "approximately 293
transfers to James and Mary Donnan or their immediate family
members."

                        About James Donnan

James "Jim" Donnan, III is a former University of Georgia football
coach and ex-ESPN college football analyst.  Donan and his wife,
Mary, filed a Chapter 11 petition (Bankr. M.D. Ga. Case No. 11-
31083) on July 1, 2011.

The filing came after Jim Donnan offered to pay back creditors
roughly $5 million.  The creditors wanted $8.25 million from the
Donnans.

                        About GLC Limited

Proctorville, Ohio-based GLC Limited is a retail liquidation
company in the wholesale/retail distribution industry.  It offers
large selections of name brand products in many categories.  It
distributes its goods through a network of wholesale distributors,
retail chains and discount and surplus centers.  It owns four
warehouses for its goods which are located in Proctorville and
Columbus, Ohio and Huntington, West Virginia.

GLC filed for Chapter 11 bankruptcy protection (Bankr. S.D. Ohio
Case No. 11-11090) on Feb. 28, 2011.  James R. Burritt, chief
restructuring officer, signed the Chapter 11 petition.  The Debtor
disclosed $18,231,434 in assets and $28,095,356 in liabilities as
of the Chapter 11 filing.

Ronald E. Gold, Esq., and Joseph B. Wells, Esq., at Frost Brown
Todd LLC, serve as the Debtor's bankruptcy counsel.  James R.
Burritt is the Chief Restructuring Officer and Leon C. Ebbert, PC,
CPA, has been tapped as accountants.  The Official Committee of
Unsecured Creditors in GLC Limited's Chapter 11 bankruptcy case
has tapped Morris, Manning & Martin, LLP, as counsel.


GOLDEN BEAR: Case Summary & 8 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Golden Bear Child Care Center, Inc.
        dba Kids Together of Lake Mary
        Attn: Folker J. Hanze
        1413 Harness Horse Lane, Ste. 302
        Brandon, FL 33511

Bankruptcy Case No.: 11-13593

Chapter 11 Petition Date: July 18, 2011

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

Debtor's Counsel: Buddy D. Ford, Esq.
                  BUDDY D FORD P.A.
                  115 N. MacDill Avenue
                  Tampa, FL 33609-1521
                  Tel: (813) 877-4669
                  Fax: (813) 877-5543
                  E-mail: Buddy@tampaesq.com

Scheduled Assets: $1,334,359

Scheduled Debts: $3,060,423

A list of the Company's eight largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/flmb11-13593.pdf

The petition was signed by Folker J. Hanze, president.


GREATER AMERICAN LAND: Brick Township Claim Unaffected by Ch. 11
----------------------------------------------------------------
Bankruptcy Judge James J. Waldron denied the request of the
Township of Brick, New Jersey, for relief from the automatic stay
pursuant to 11 U.S.C. Sec. 362 to collect unpaid taxes, and for
permission to amend its proof of claim in the bankruptcy case of
Greater American Land Resources, Inc.

Brick seeks payment of:

     -- $30,504.08 (prepetition taxes) plus $13,497.69
        (postpetition taxes) with respect to the Debtor's
        Lot 17, Block 701, in Brick Township; and

     -- $59,180.47 (prepetition taxes) plus $84,394.51
        (postpetition taxes) with respect to Lot 5.

The Debtor did not challenge Brick's demand for payment of its
secured claim for Lot 17, including the postpetition taxes that
accrued during the Chapter 11 case.  Although it did not explain
why it had not timely paid Brick's Allowed Claim, the Debtor
stated that it would tender payment on or before the return date
of Brick's motion.  However, with respect to Lot 5, the Debtor
contended that it was simply too late for Brick to seek payment
for taxes that accrued both prepetition and preconfirmation.

Judge Waldron held that Brick's claim on Lot 17 is conclusively
dealt with by the Debtor's Modified Plan.  Moreover, the Modified
Plan preserved Brick's tax lien on Lot 17.

With respect to the claim on Lot 17, the Court held that Brick did
not "participate" in the Debtor's bankruptcy sufficiently to allow
its lien on Lot 5 to be extinguished and its tax lien was not
dealt with by the Modified Plan.  Brick's lien survives in rem
pursuant to 11 U.S.C. Sec. 506(d), and passes through the Debtor's
bankruptcy unaffected.  Judge Waldron said it is not necessary for
the Court to reach the issue of whether Brick should be allowed to
amend its proof of claim post-confirmation.

A copy of the Court's July 14, 2011 Opinion is available at
http://is.gd/TFpVqufrom Leagle.com.

Attorney for Debtor is:

          Morris S. Bauer, Esq.
          NORRIS MCLAUGHLIN & MARCUS, P.A.
          721 Route 202-206, P.O. Box 1018
          Somerville, NJ 08876-1018

Township of Brick is represented by:

          Jared J. Monaco, Esq.
          GILMORE & MONAHAN, P.C.
          Ten Allen Street, P.O. Box 1540
          Toms River, NJ 08754
          Tel: 732-240-6000

Greater American Land Resources, Inc., is in the business of
acquiring, owning and selling real property.  Greater American
filed for Chapter 11 bankruptcy (Bankr. D. N.J. Case No. 08-14781)
on March 18, 2008.  The Debtor listed less than a dozen unsecured
creditors, and an Official Committee of Unsecured Creditors was
not formed.  The Debtor's First Modified Plan of Reorganization
was confirmed by an order dated July 30, 2010.


GREEN PLANET: Semple Marchal Raises Going Concern Doubt
-------------------------------------------------------
Green Planet Group, Inc., filed on July 18, 2011, its annual
report on Form 10-K for the fiscal year ended March 31, 2011.

Semple, Marchal & Cooper, LLP, in Phoenix, Ariz., says that Green
Planet Group's significant operating losses and negative working
capital raise substantial doubt about its ability to continue as a
going concern.

Green Planet reported a net loss of $15.4 million on $37.1 million
of sales for the fiscal 2011, compared with a net loss of
$15.7 million on $57.4 million of sales for fiscal 2010.

The Company's balance sheet at March 31, 2011, showed $5.6 million
in total assets, $38.9 million in total liabilities, and a
stockholders' deficit of $33.3 million.

A copy of the Form 10-K is available at http://is.gd/wUfTGv

Green Planet Group, Inc., is engaged in the research, development,
manufacturing and distribution of a variety of products that
improve overall energy efficiency with a specific concentration on
petroleum based energy sources.  The Company currently has four
wholly owned operating subsidiaries, EMTA Corp, XenTx Lubricants,
Inc., White Sands, L.L.C., and Lumea, Inc.


GREENWOOD RACING: Moody's Reviews Ratings for Possible Downgrade
----------------------------------------------------------------
Moody's Investors Service placed all ratings of Greenwood Racing,
Inc. under review for possible downgrade, mainly due to the
company's weak liquidity stemming from near term refinancing risk.

These ratings were placed under review:

Corporate Family Rating -- B2

Probability of Default Rating -- B2

$265 million senior secured term loan due 2011 -- B1 (LGD3, 40%)

RATINGS RATIONALE

The review action for possible downgrade reflects Moody's concern
that refinancing risk is rising as the maturity date of
Greenwood's $265 million maturity date (November 28, 2011)
approaches. "Despite continued improvement in operating
performance and conservative credit metrics, we caution that
refinancing risk could trump otherwise solid fundamental rating
factors, and could result in significant downgrade rating actions,
if the company is not be able to resolve its refinancing needs
within the next few weeks," commented Moody's lead analyst, John
Zhao. As of March 27, 2011, Greenwood had a cash balance of
approximately $55 million and would not have sufficient liquidity
to repay its term loan in full upon maturity based on Moody's
estimates of the company's cash flow.

Despite the mounting refinancing risk, Moody's recognizes the
continued solid operating performance and strong credit metrics
for the current rating. Should the refinancing issue -- a key
constraint for the current rating -- be addressed in a timely
manner and on economical terms, positive rating momentum could
develop. A higher rating or positive rating outlook would also
require Greenwood to maintain and improve its operating
performance, sustain solid credit metrics post refinancing and
adhere to a disciplined financial policy and capital spending
plan.

The principal methodology used in rating Greenwood Racing, Inc.
was the Global Gaming Industry Methodology published in December
2009. Other methodologies used include Loss Given Default for
Speculative-Grade Non-Financial Companies in the U.S., Canada and
EMEA published in June 2009.

Please see ratings tab on the issuer/entity page on Moodys.com for
the last rating action and the rating history

Greenwood Racing, Inc. owns and operates the Parx Casino ("Parx"),
slots gaming facility, in Bensalem, Pennsylvania, a 20-minute
drive from downtown Philadelphia. The company opened its permanent
facility in December 2009 and currently features approximately
3,461 slot machines and 152 table games including Poker. The
company also conducts live racing for thoroughbred horses at the
Philadelphia Park facility located adjacent to the Parx.


GSC GROUP: Non-Controlling Lender Group Files Plan
--------------------------------------------------
A group of prepetition lenders of GSC Group, Inc., et al., holding
approximately 40% of the prepetition lender claims of the Debtors,
has filed a disclosure statement in support of its Joint Chapter
11 Plan for GSC Group, Inc., and its affiliated Debtors, dated
May 24, 2011.

The Non-Controlling Lender Group, as Plan Proponents, believes its
Plan is the most equitable and economic mechanism for resolving
these Chapter 11 Cases, as it will avoid the disenfranchisement of
creditors and the significant tax liabilities that would result
from a sale of the Debtors' Core Assets under Section 363(b) of
the Bankruptcy Code to Black Diamond Capital Management L.L.C. and
Black Diamond Commercial Finance, L.L.C.

Black Diamond holds the controlling interest in the Debtor's
prepetition secured debt.  The Plan Proponents believe that Black
Diamond Lender utilized its control position, not to enhance its
recovery from its claims, but instead, to destabilize the Debtors
in order to force a sale to a Black Diamond affiliate at a fire
sale price.

The reorganization proposed by the Non-Controlling Lenders' Plan
will recapitalize the Debtors and will transform their corporate
structure.  The Plan contemplates (1) the conversion of the
prepetition lender secured claims into Reorganized NJLP New Senior
Notes, Reorganized AP Inc. New Common Stock and Reorganized GSC
Group New Common Stock, (2) the conversion of NJLP's Intercompany
Claim against SIF and any other Allowed General Unsecured Claims
against SIF into Reorganized SIF Interests, (3) the cancellation
of all equity interests of non- Debtors in any of the Debtors, and
(4) the reinstatement of Equity Interests of any of the Debtors in
one another.

A copy of the Non-Controlling Lender Group's Plan is available at:

http://bankrupt.com/misc/gscgroup.Non-ControllingLenderGroupDS.pdf

                         About GSC Group

Florham Park, New Jersey-based GSC Group, Inc. --
http://www.gsc.com/-- is a private equity firm specializing in
mezzanine and fund of fund investments.  Originally named
Greenwich Street Capital Partners Inc. when it was a subsidiary of
Travelers Group Inc., GSC became independent in 1998 and at one
time had $28 billion of assets under management.  Market reverses,
termination of some funds, and withdrawal of customers'
investments reduced funds under management at the time of
bankruptcy to $8.4 billion.

GSC Group filed for Chapter 11 bankruptcy protection (Bankr.
S.D.N.Y. Case No. 10-14653) on Aug. 31, 2010.  Michael B. Solow,
Esq., at Kaye Scholer LLP, serves as the Debtor's bankruptcy
counsel.  Epiq Bankruptcy Solutions, LLC, is the Debtor's notice
and claims agent.  Capstone Advisory Group, LLC, is the Debtor's
financial advisor.  The Debtor estimated its assets at $1 million
to $10 million and debts at $100 million to $500 million as of the
Chapter 11 filing.

Since Jan. 7, 2011, the Debtors have been operated by James L.
Garrity Jr., as Chapter 11 trustee for the Debtors.  No committee
of unsecured creditors has been appointed in the Chapter 11 Cases.


HARRISBURG, PENNSYLVANIA: Agrees to Some Rescue Plan Changes
------------------------------------------------------------
Dow Jones' DBR Small Cap reports that Pennsylvania officials
agreed to remove several contested deficit-cutting ideas from a
financial rescue plan for its troubled capital city, including
recommendations to close a fire station and slash the City Hall
staff, but affirmed other austerity measures meant to help
Harrisburg avoid a possible bankruptcy filing.

                       About Harrisburg, PA

The city of Harrisburg is coping with debt related to a failed
revamp of an incinerator.  The outstanding principal on the
Incinerator debt is $288 million.  Total principal and interest on
this debt would amount to approximately $458 million.  Debt
service payments on the total incinerator debt are $20 million per
year.  Of this total, Dauphin County, Pennsylvania, is responsible
for roughly $10 million and Harrisburg is responsible for the
other $10 million.   The city is guarantor on 100% of the
$288 million Incinerator debt.

The City Council of Harrisburg, Pennsylvania, voted 5-2 on
September 28 to seek professional advice on bankruptcy or state
oversight.  Harrisburg needed state aid to avoid default on $3.3
million of bond payments this month.

The city has missed about $8 million in debt-service payments this
year on bonds issued in connection with a trash-to-energy
incinerator.  The city owes another $40 million by the end of the
year, and was sued by its home county Dauphin County; bond insurer
Assured Guaranty Municipal Corp., a unit of Assured Guaranty Ltd.;
and bond trustees TD Bank and M&T Bank Corp. over $19 million in
skipped bond payments.


HARRY & DAVID: Pension-Plan Termination Hearing Delayed by PBGC
---------------------------------------------------------------
Dow Jones' DBR Small Cap reports that a request by the Pension
Benefit Guaranty Corp. to push back a hearing on Harry & David
Holdings Inc.'s pension-plan termination bid has elicited backlash
from the retailer, which claims a delay could threaten the course
of its reorganization.

                        About Harry & David

Medford, Oregon-based Harry & David Holdings, Inc. -- aka Bear
Creek Corporation; Bear Creek Direct Marketing, Inc.; Bear Creek
Stores, Inc.; Bear Creek Operations, Inc.; and Bear Creek
Orchards, Inc. -- is a multi-channel specialty retailer and
producer of branded premium gift-quality fruit and gourmet food
products and gifts marketed under the Harry & David(R),
Wolferman's(R) and Cushman's(R) brands.  It has 70 stores across
the country.

Harry & David Holdings filed for Chapter 11 bankruptcy protection
(Bankr. D. Del. Case No. 11-10884) on March 28, 2011.  Affiliates
Harry and David (Bankr. D. Del. Case No. 11-10885), Harry & David
Operations, Inc. (Bankr. D. Del. Case No. 11-10886), and Bear
Creek Orchards, Inc. (Bankr. D. Del. Case No. 11-10887) filed
separate Chapter 11 petitions.  The cases are jointly
administered, with Harry David Holdings as lead case.

David G. Heiman, Esq., Brad B. Erens, Esq., and Timothy W.
Hoffman, Esq., at Jones Day, are the Debtors' lead counsel.
Daniel J. DeFranceschi, Esq., Paul Noble Heath, Esq., and Zachary
Shapiro, Esq., at Richards Layton & Finger, serve as the Debtors'
local counsel.  Rothschild Inc. is the Debtors' investment banker.
Alvarez & Marsal LLC is the Debtors' financial advisor.  Garden
City Group Inc. is the Debtors' claims and notice agent.  McKinsey
Recovery & Transformation Services U.S. LLC is being tapped as
management consultants.

The Debtor also tapped DJM Realty Services, LLC, as real estate
consultants; Alvarez & Marsal North America to provide the Debtors
an interim chief executive officer and chief restructuring officer
and certain additional officers; and McKinsey Recovery &
Transformation Services U.S. LLC as their management consultant.

Kristopher M. Hansen, Esq., and Erez E. Gilad, Esq., at Stroock &
Stroock & Lavan LLP; Thomas B. Walper, Esq., at Munger, Tolles &
Olson LLP; and Ira S. Dizengoff, Esq., at Akin Gump Strauss Hauer
& Feld LLP are counsel to principal noteholders.  Moelis & Company
is the financial advisor to the principal noteholders.

Lowenstein Sandler has been retained as counsel to the unsecured
creditors committee.

The Debtors disclosed $304.3 million in total assets and
$360.8 million in total debts as of Dec. 25, 2010.

The Debtors' proposed Plan of Reorganization will allow the
Company to convert all of its approximately $200 million of
outstanding public notes into equity of the reorganized company.
The Plan also includes an equity capital raise that will generate
$55 million in equity financing upon the Company's emergence from
chapter 11.  The Plan has the support of the Official Committee of
Unsecured Creditors and the holders of approximately 81% of the
Company's public notes.

On April 7, 2011, the U.S. Trustee appointed an official committee
of unsecured creditors in the Debtors' cases.


HELLER EHRMAN: Settles Fee Dispute With Katz Technology
-------------------------------------------------------
Abigail Rubenstein at Bankruptcy Law360 reports that former Heller
Ehrman LLP client Ronald A. Katz Technology Licensing LP has
agreed to pay $4 million and drop a $50 million claim that the law
firm breached an agreement to represent it in numerous patent
suits, Heller told a California bankruptcy court Monday.

According to Law360, the settlement resolves Heller's claims
against the patent-holding company for contingency fees that the
defunct firm estimated at $10 million, as well as the company's
$50 million counterclaim.

                        About Heller Ehrman

Headquartered in San Francisco, California, Heller Ehrman, LLP
-- http://www.hewm.com/-- was an international law firm of more
than 730 attorneys in 15 offices in the United States, Europe, and
Asia.

Heller Ehrman filed a voluntary Chapter 11 petition (Bankr. N.D.
Calif., Case No. 08-32514) on Dec. 28, 2008.  Members of the
firm's dissolution committee led by Peter J. Benvenutti approved a
plan dated Sept. 26, 2008, to dissolve the firm.  The Hon.
Dennis Montali presides over the case.  Pachulski Stang Ziehl &
Jones LLP assists the Debtor in its restructuring effort.  The
Official Committee of Unsecured Creditors is represented
Felderstein Fitzgerald Willoughby & Pascuzzi LLP.  The firm
estimated assets and debts at $50 million to $100 million as of
the Petition Date.  According to reports, the firm had roughly $63
million in assets and 54 employees at the time of its filing.  The
Court confirmed Heller Ehrman's Plan of Liquidation in September
2010.


HERTZ CORPORATION: Moody's Reviews 'B1' Rating for Downgrade
------------------------------------------------------------
Moody's Investors Service is continuing its review of the ratings
of The Hertz Corporation (Hertz) for possible downgrade following
the company's announcement that it has reached a definitive
agreement to acquire Donlen Corporation for approximately
$930 million.  The ratings of Hertz and supported entities that
are under review include: Corporate Family Rating (CFR) and
Probability of Default Rating (PDR) -- B1; senior secured credit
facility -- Ba1; secured euro notes -- B1; senior unsecured debt -
- B2; and pre-LBO unsecured debt -- B3. The company's Speculative
Grade Liquidity is SGL-3.

The principal methodologies used in this rating were Global
Equipment and Automobile Rental Industry published in December
2010, and Loss Given Default for Speculative-Grade Non-Financial
Companies in the U.S., Canada and EMEA published in June 2009.


HOTI ENTERPRISES: Trustee Wants Chapter 11 Case Dismissed
---------------------------------------------------------
Jonathan Foster, the trustee for the bankruptcy case of HOTI
Enterprises LP and HOTI Realty Management Co. Inc., asks the Hon.
Robert Drain of the U.S. Bankruptcy Court for the Southern
District of New York to dismiss the Chapter 11 case of the
Debtors.

A hearing on the request will be held on Oct. 6, 2011, at 10:00
a.m., at the United States Bankruptcy Court, Courtroom 118, 300
Quarropas Street, White Plains, New York, 10601.

Mr. Foster tells the Court that GECMC 2007 C-1, acting a creditor
of the Court, has failed to state a claim upon which can be
granted.  GECMC is not the real party of interest.

The Debtor notes it has been dishonored by key banks who where the
ones sending bills.  Whitney Wheeler filed a proof of claim, one
of the addendum call payoff statement dated Nov. 1, 2008.  GECMC
did not exist then.

                      About Hoti Enterprises

Harrison, New York-based Hoti Enterprises, LP, is a single asset
real estate holding company that owns an apartment complex located
at 2801 Fillmore Avenue, 3001 Avenue R and 2719 Fillmore Avenue --
collectively, known as 1865 Burnett Street -- in Brooklyn, New
York.  Hoti Realty Management was in the business of owning and
operating a management company that managed the apartment complex.

Hoti filed for Chapter 11 bankruptcy protection (Bankr. S.D.N.Y.
Case No. 10-24129) on Oct. 12, 2010.  Hoti Enterprises estimated
its assets and debts at $10 million to $50 million.

A receiver of rents was appointed against Hoti Enterprises pre-
bankruptcy pursuant to a foreclosure proceeding commenced by GECMC
2007-C-1 Burnett Street, Hoti's mortgagee and largest secured
creditor.

No Official Committee of Unsecured Creditors has been appointed in
the case.


HUCKLEBERRY PARTY: Fails to Show Plan, Case Converted to Ch. 7
--------------------------------------------------------------
Tom Perkins, freelance reporter at AnnArbor.com, reports that a
popular Ypsilanti Township liquor store, Huckleberry Party Store,
has closed and filed for bankruptcy in June.  Doug Ellmann, an
attorney and bankruptcy trustee for the store, said the owners
failed to present a workout plan to the bankruptcy judge and the
case has been converted to Chapter 7 liquidation.  An auction for
the store's license and assets will be held on July 25 at 11 a.m.
at Ellmann's office at in Ann Arbor, Michigan.  The starting bid
is $125,000.  Jim Chaconas, a broker for Colliers International,
is marketing the store.


ICON HEALTH: S&P Raises Corporate Credit Rating to 'B+'
-------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on Logan, Utah-based ICON Health & Fitness Inc. to 'B+',
from 'B'. The rating outlook is stable.

"At the same time, we raised our issue-level rating on ICON's $205
million senior secured notes due 2016 by one notch to 'B', from
'B-'. The recovery rating remains '5', indicating our expectation
of modest (10% to 30%) recovery for debt holders in the event of a
payment default," S&P related.

"The upgrade reflects our expectation that credit measures will
remain supportive of a 'B+' corporate credit rating over the
intermediate term, and that ICON will maintain adequate liquidity
through both availability under its ABL facility and internally
generated cash to support seasonal working capital uses of cash,"
said Standard & Poor's credit analyst Ariel Silverberg. "We
believe that management will continue to effectively manage
certain costs (such as general and administrative), and that
revenue will be fairly stable over the intermediate term. While we
expect ICON will remain vulnerable to both increases in input
costs (including commodity and freight) and pricing pressure,
given the company's large customer base of mass merchandise
retailers, our assessment of ICON's business risk profile as weak
reflects our belief the company will maintain its EBITDA margin in
the high single-digit percentage area. We expect this will result
in adjusted leverage remaining in the mid to high 3.0x area and
interest coverage in the low to mid 2.0x area. Both measures are
in line with the 'B+' rating and support our assessment of
Icon's financial risk profile as aggressive."

"Our ratings incorporate the expectation for flat to low-single
digit percentage growth in net sales for fiscal 2012 (ICON's
fiscal year ends May 31). This reflects our economists' current
expectations for 2.4% and 2.6% growth in real GDP in 2011 and 2012
and for growth in consumer spending averaging about 2.4% in 2011
and 2012. We further believe there will be long run demand for
ICON's products given continued awareness of the benefits of
physical fitness. The rating also incorporates our expectation for
EBITDA to remain essentially flat, with margin remaining in the
high single digit percentage area, reflecting continued effective
cost management by the company. We expect that management will
remain focused on increasing sales to higher margin distribution
channels, such as online and direct, over the intermediate term.
However, while EBITDA margin with the online and direct channel is
typically more than double that of the wholesale channel, it is
more dependent on the company constantly refreshing its product
line and can thus be more volatile. The wholesale channel accounts
for the majority of ICON's sales," S&P stated.


IRWIN MORTGAGE: Asks Court to Approve Bailey Cavalieri Hiring
-------------------------------------------------------------
Irwin Mortgage Corporation seeks Bankruptcy Court permission to
employ Bailey Cavalieri LLC as its general bankruptcy counsel.

Nick V. Cavalieri, Esq., a member of the firm, will lead the
engagement.  He attests that his firm has not represented the
Debtor's creditors, equity security holders, or any other parties
in interest, or their attorneys or accountants.

The firm will be paid at these hourly rates:

          $150 -- $175 per hour for paralegals,
          $190 -- $300 per hour for associates
                       and "of counsel," and
          $270 -- $480 per hour for members

The firm's professionals who will primarily render services to the
Debtor and their hourly rates are:

           Nick V. Cavalieri      Member       $480/hour
           Robert B. Berner       Member       $310/hour
           Matthew T. Schaeffer   Associate    $265/hour
           Adam J. Biehl          Associate    $250/hour
           Craig R. Hartpence     Paralegal    $155/hour
                                   Assistant

From June 2010 through October 2010, the Debtor's parent, First
Financial Bank, N.A., agreed to advance, on an unsecured basis,
earmarked funds to, or for the benefit of, the Debtor to pay the
firm's fees and expenses incurred by the Debtor at the outset of
the engagement.  The firm received initial payments for
accumulated fees totaling $180,540, made by FFB.  The firm's pre-
petition legal services related to wind down consultation and
related matters, including bankruptcy counseling and preparing the
bankruptcy petition, schedules, first-day motions, and related
documents.   After the payment of the firm's estimated June 2011
and July 1 through 8, 2011 statements, the balance of the
unapplied advance payments amounts to $33,307.

                       About Irwin Mortgage

For a number of years, Irwin Mortgage Corporation, based in
Dublin, Ohio, originated, purchased, sold and serviced
conventional and government agency backed residential mortgage
loans throughout the United States.  However, in 2006 and
continuing into early 2007, IMC sold substantially all of its
assets, including its mortgage origination business, its mortgage
servicing business, and its mortgage servicing rights portfolio,
to a number of third party purchasers.  As a result of those
sales, IMC terminated its operations and has been winding down
since 2006.

Irwin Mortgage filed for Chapter 11 bankruptcy (Bankr. S.D. Ohio
Case No. 11-57191) on July 8, 2011.  Judge Charles M. Caldwell
presides over the case. In its petition, the Debtor estimated
assets of $10 million to $50 million, and debts of $50 million to
$100 million.  The petition was signed by Fred C. Caruso,
president.


IRWIN MORTGAGE: Hires Development Specialists for Wind-Down
-----------------------------------------------------------
Irwin Mortgage Corporation seeks Bankruptcy Court authority to
continue to engage Development Specialists, Inc., to provide
wind-down management services to the Debtor.

Since Aug. 24, 2010, the Debtor has engaged DSI to provide
management services during the Debtor's wind-down process,
including (a) Fred C. Caruso, who has served as a director and as
president and chief restructuring officer and (b) George E. Shoup
III, who has served as assistant chief restructuring officer.

DSI intends to charge the Debtor for its services on an hourly
basis:

          Fred C. Caruso              $595/hour
          George E. Shoup III         $370/hour
          Jill E. Costie              $285/hour
          Sean L. Farrell             $175/hour

The Debtor has paid the firm $35,000 as advance payment, which
will be credited against any amounts due at the termination of
DSI's retention by the Debtor and returned upon the satisfaction
of all outstanding obligations under the DSI Agreement.  The
Debtor also will indemnify DSI.

From Aug. 24, 2010 through Oct. 31, 2010, the Debtor's parent,
First Financial Bank, N.A., agreed to advance, on an unsecured
basis, earmarked funds to, or for the benefit of, Irwin to pay
DSI's fees and expenses incurred by Irwin at the outset of DSI's
engagement.  In accordance with the earmarked payment agreement,
DSI received initial payments for accumulated fees totalling
$62,193, made by FFB, which were specifically earmarked for the
purpose of paying DSI.

The total payments received by DSI from Irwin total $426,773 for
the period from Oct. 29, 2010 to July 8, 2011 (exclusive of the
earmark payments from FFB).

                       About Irwin Mortgage

For a number of years, Irwin Mortgage Corporation, based in
Dublin, Ohio, originated, purchased, sold and serviced
conventional and government agency backed residential mortgage
loans throughout the United States.  However, in 2006 and
continuing into early 2007, IMC sold substantially all of its
assets, including its mortgage origination business, its mortgage
servicing business, and its mortgage servicing rights portfolio,
to a number of third party purchasers.  As a result of those
sales, IMC terminated its operations and has been winding down
since 2006.

Irwin Mortgage filed for Chapter 11 bankruptcy (Bankr. S.D. Ohio
Case No. 11-57191) on July 8, 2011.  Judge Charles M. Caldwell
presides over the case. In its petition, the Debtor estimated
assets of $10 million to $50 million, and debts of $50 million to
$100 million.  The petition was signed by Fred C. Caruso,
president.


JACKSON ENERGY: Files for Chapter 7  Liquidation
------------------------------------------------
Sarah Trefethen at New Hampshire at SentinelSource.com reports
that Jackson Energy, an oil company in Keene, New Hampshire, has
filed for Chapter 7 bankruptcy, declaring $84,559 in assets and
$290,161 in liabilities.

According to the report, Jackson Energy stopped delivering oil to
its customers at about the time owner Bradley C. Jackson of
Jaffrey died on Feb. 17, and the company closed not long after.
Jackson Energy is now the responsibility of Mr. Jackson's widow,
Sadie H. Jackson.

The Sentinel noted that among the declared assets is $30,109 in
uncashed checks from Jackson Energy customers.  The debt is shared
among 169 creditors, most of whom are owed a few hundred to a few
thousand dollars for pre-buy oil contracts the company did not
fill.

The report notes a meeting of creditors is scheduled next month at
U.S. Bankruptcy Court in Manchester.


JAMES DONNAN: Faces Suit Over GLC Ltd. Ponzi Scheme
---------------------------------------------------
John Barr at ESPN, citing court documents, reports that Jim Donnan
has been accused of making millions of dollars from a Ponzi scheme
that also enriched his three children and their spouses. The
federal court documents are part of a larger bankruptcy case
involving West Virginia-based company GLC Ltd.

According to the court documents, Mr. Donnan and his wife, Mary,
"solicited investments from more than 50 individuals and entities
to GLC" and made commissions ranging from 15% to 20% for any new
investments solicited.

"James Donnan is substantially, if not principally, responsible
for the initiation and operation of a far-reaching ponzi scheme
that defrauded GLC and its investors of approximately
$27,752,159," according to papers filed with the court.

The suit claims the Donnans and their family members made more
than $14.5 million from GLC in the form of "approximately 293
transfers to James and Mary Donnan or their immediate family
members."

                        About James Donnan

James "Jim" Donnan, III is a former University of Georgia football
coach and ex-ESPN college football analyst.  Donan and his wife,
Mary, filed a Chapter 11 petition (Bankr. M.D. Ga. Case No. 11-
31083) on July 1, 2011.

The filing came after Jim Donnan offered to pay back creditors
roughly $5 million.  The creditors wanted $8.25 million from the
Donnans.

                        About GLC Limited

Proctorville, Ohio-based GLC Limited is a retail liquidation
company in the wholesale/retail distribution industry.  It offers
large selections of name brand products in many categories.  It
distributes its goods through a network of wholesale distributors,
retail chains and discount and surplus centers.  It owns four
warehouses for its goods which are located in Proctorville and
Columbus, Ohio and Huntington, West Virginia.

GLC filed for Chapter 11 bankruptcy protection (Bankr. S.D. Ohio
Case No. 11-11090) on Feb. 28, 2011.  James R. Burritt, chief
restructuring officer, signed the Chapter 11 petition.  The Debtor
disclosed $18,231,434 in assets and $28,095,356 in liabilities as
of the Chapter 11 filing.

Ronald E. Gold, Esq., and Joseph B. Wells, Esq., at Frost Brown
Todd LLC, serve as the Debtor's bankruptcy counsel.  James R.
Burritt is the Chief Restructuring Officer and Leon C. Ebbert, PC,
CPA, has been tapped as accountants.  The Official Committee of
Unsecured Creditors in GLC Limited's Chapter 11 bankruptcy case
has tapped Morris, Manning & Martin, LLP, as counsel.


JEFFERSON, AL: Commissioners to Talk With Chapter 9 Expert Klee
---------------------------------------------------------------
Barnett Wright at The Birmingham News reports that the Jefferson
County Commission is preparing for a possible bankruptcy filing by
recruiting law firms and consultants who have experience in
municipal bankruptcy, commissioners said Tuesday.

Birmingham News said the commissioners plan to interview at the
courthouse this week Kenneth Klee, a UCLA law professor who worked
for Orange County, Calif., on its Chapter 9 bankruptcy case.  The
commission has scheduled a closed meeting with lawyers at 9 a.m.
Thursday to discuss options likely to be litigated if the
commission "pursues a certain course of action."

Mr. Klee drafted principal revisions to the U.S. Bankruptcy Code
for the House Judiciary Committee and served as a consultant on
bankruptcy legislation to the U.S. Department of Justice, and is
viewed by many as one of the nation's top experts on Chapter 9.

Birmingham News says efforts to reach Mr. Klee for comment were
unsuccessful on Tuesday.

Birmingham News says the commission is preparing for a bankruptcy
filing in the event that negotiations between the county and its
creditors fail to produce a settlement for its $3.2 billion sewer
debt crisis. A 30-day standstill period expires July 29.

According to the report, the commissioners have already authorized
their lawyers to draw up papers required to file for Chapter 9 in
case they decide to pull the trigger on what would be the largest
municipal bankruptcy ever filed by a government in the United
States.  It would eclipse the $1.6 billion bankruptcy of Orange
County, Calif., in 1994.

Birmingham News also reports that commissioners last week met with
Jeffrey Cohen, a lawyer at Patton Boggs law firm who specializes
in government bankruptcies and financial meltdowns.  Mr. Cohen may
be reached at:

       Jeffrey Cohen, Esq.
       1801 California Street, Suite 4900
       Denver, CO 80202
       Tel: 303-894-6159
       Fax: 303-894-9239
       E-mail: jcohen@pattonboggs.com

Birmingham News also reports that Commissioner George Bowman said
he has pushed unsuccessfully to get Calvin Grigsby of Grigsby &
Associates, a San Francisco-based investment bank that specializes
in local government finance, added to the county's legal team.
The firm may be reached at:

          GRIGSBY & ASSOCIATES
          311 California St., Suite 320
          San Francisco CA 94104
          Tel: (800) 392-4877 ext.311
          Fax: (415) 676-2445
          E-mail: hkriout@grigsbyinc.com

In a related matter Tuesday, Birmingham News reports, the finance
committee voted to take $1 million out of reserves to pay legal
fees to New York-based law firm Boies, Schiller to defend the
county in a lawsuit filed by bond insurers Syncora Guarantee Inc.
The firm is seeking $400 million in damages from the county and
investment bank JPMorgan Chase & Co. over the disastrous bond
deals that propelled the county into its sewer debt crisis.


LAKE TAHOE DEV'T: Plan Outline Approved; Voting Until Aug. 16
-------------------------------------------------------------
On July 6, 2011, the U.S. Bankruptcy Court for the Eastern
District of California approved the disclosure statement
describing Lake Tahoe Development, LLC's Third Amended Plan of
Reorganization dated June 24, 2011.

The Court fixed Aug. 16, 2011, at the last day for submitting
written acceptances or rejections of the Plan and for filing
written objections to confirmation of the Plan.

Following the effective date of the Plan, Debtor will attempt to
market and sell or otherwise dispose of the Debtor's properties as
a single development project.  Reimbursement of expenses of
maintaining the real property and operating the business will be
paid from a "post-confirmation operating account."  If funds are
insufficient, expenses may be paid by J.S. Devco, an insider of
the Debtor.

Pursuant to the Plan, holders of equity interests will retain
equity in the reorganized debtor, but will share in such equity
with the J.S. Devco Limited, the holder of the Class 3(c)
unsecured claim.

General unsecured creditors are classified under Class 3(a)
through 3(c).  Class 3(a) 1122(b) Convenience Class (under $5,000)
will be paid in full, without interest, on the Effective Date.

Holders of Class 3(b) non-insider general unsecured claims will
receive a pro rata share of funds deposited in the Unsecured
Creditors Distribution Account, which will be initially funded
from the Debtor's balance of cash after payment of all allowed
administrative claims, priority unsecured claims in Class 1(a),
and Class 3(a) claims, and the deposit of the sum of $30,000 into
the Post-Confirmation Operating Account.

The successors in interest to the holder of the Class 3(c) general
unsecured claim of J.S. Devco Limited Partnership will receive
equity in the reorganized debtor upon the Effective Date.

All Class 2 secured claims will be due and payable on the date 270
days following the occurrence of the Effective Date.  If Debtor is
unable to sell or refinance the real property on or before the
date 270 days following the Effective Date, or otherwise pay such
Class 2 secured claims in full by that date, the Class 2 claimants
will be entitled to exercise their prepetition rights, including
rights to enforce liens securing the Class 2 claims.

All the foregoing described classes are impaired under the Plan.

A copy of the Amended Disclosure Statement is available at:

         http://bankrupt.com/misc/laketahoe.AmendedDS.pdf

                   About Lake Tahoe Development

Based in Zepher Cove, Nevada, Lake Tahoe Development Co., LLC, is
a real estate development company with substantial expertise in
the real estate land entitlement and permitting areas in the
unique geographic location of South Lake.  Its principal, Randy
Lane, who is the sole owner of Mountain Ventures, LLC, which is
the managing member of the Debtor, has resided and developed real
estate in South Lake Tahoe since 1976.

The Company owns an interest in two separate real estate
development projects.  The first project owned exclusively by the
Debtor is a large, mixed use, condominium, 19 hotel and retail
space development comprised of 29 separate real estate parcels
with multiple lien holders holding liens against various parcels
located at the California/Nevada state line on Highway 50, South
Lake Tahoe, California.  The second is property owned by the
Debtor located at 1259 Emerald Bay Road, South Lake Tahoe, CA (the
"Gateway Project"), which is separate and apart from the Project,
24 and is being developed by Danny Freeman pursuant to a
development agreement.

The Company filed for Chapter 11 protection (Bankr. E.D. Calif.
Case No. 09-41579) on Oct. 5, 2009.  Daniel L. Egan, Esq., and
Megan A. Lewis, Esq., at Wilke, Fleury, Hoffelt, Gould & Birney,
LLP, in Sacramento, Calif., serve as counsel to the Debtor.  The
Debtor estimated assets at $100 million and $500 million, and
debts at $50 million and $100 million in its Chapter 11 petition.


LANDAMERICA FINANCIAL: Trustee Seeks $365-Mil. from Executives
--------------------------------------------------------------
Michael Schwartz at Richmond BizSense reports that a new lawsuit
filed in federal court is going after 21 former executives and
directors of LandAmerica and is seeking to recover $365 million
for the bankruptcy estate.

According to the report, the suit alleges that certain officers
and directors of LandAmerica Financial Group and its subsidiary
LandAmerica 1031 Exchange Services breached their fiduciary duty
and caused the companies to suffer massive financial losses.
Those losses ultimately led to LandAmerica imploding in late 2008
and filing for Chapter 11 bankruptcy.

The suit was filed by the trustee overseeing the LandAmerica
Financial Group Liquidation Trust in U.S. Bankruptcy Court in
Richmond.

Among the defendants are former LandAmerica CEO Ted Chandler,
former Virginia Commonwealth University President Eugene Trani,
former banker Robert Norfleet Jr. and former LandAmerica chief
legal officer Michelle Gluck, who is now general counsel at the
Federal Reserve Bank of Richmond.

The other defendants named in the suit are Janet A. Alpert, Gale
K. Caruso, Michael Dinkins, Charles H. Foster Jr., John P. McCann,
Dianne M. Neal, Robert F. Norfleet Jr., Robert T. Skunda, Julious
P. Smith Jr., Thomas G. Snead Jr., Marshall B. Wishnack, G.
William Evans, Pamela K. Saylors, Jeffrey C. Selby, Christine R.
Vlahcevic, Stephen Connor, Brent Allen, and Ronald B. Ramos.

According to the report, the suit is seeking $365 million in
damages on seven counts.

The report says the plaintiff in the case is trustee Bruce Matson.
Jeff Sabin, an attorney with Bingham McCutchen who is representing
the plaintiff, had no comment on the suit.  Buddy Allen and Robert
Best of LeClairRyan are also representing the trustee.

Saul Pilchen of Skadden, Arps, Slate, Meagher & Flom and Scott
Fredericksen of Foley & Lardner in Washington, counsel for the
defendants, contend that the lawsuit has no merit.

"The LFG Trustee's complaint seeks unfairly and inappropriately to
judge the conduct of our clients with the benefit of hindsight,
and turns a blind eye toward much of what actually occurred," they
said.

"The named LFG officers and directors acted in complete and
informed good faith, served the best interests of shareholders and
customers, and exercised prudent and well-informed business
judgment throughout the process."

                    About LandAmerica Financial

LandAmerica Financial Group, Inc., provided real estate
transaction services with offices nationwide and a vast network of
active agents.  LandAmerica Financial Group and its affiliate
LandAmerica 1031 Exchange Services, Inc. filed for Chapter 11
protection Nov. 26, 2008 (Bankr. E.D. Va. Lead Case No. 08-35994).
Attorneys at Willkie Farr & Gallagher LLP and McGuireWoods LLP
served as co-counsel.  Zolfo Cooper served as the restructuring
advisor.  Epiq Bankruptcy Solutions served as claims and notice
agent.

Attorneys at Akin Gump Strauss Hauer & Feld LLP and Tavenner &
Beran, PLC, served as counsel to the Creditors Committee of 1031
Exchange.  Bingham McCutchen LLP and LeClair Ryan served as
counsel to the Creditors Committee of LFG.

In its bankruptcy petition, LFG reported total assets of
$3,325,100,000, and total debts of $2,839,800,000 as of
Sept. 30, 2008.

On March 6, 2009, affiliate LandAmerica Assessment Corporation,
aka National Assessment Corporation, filed its own Chapter 11
petition.  Affiliate LandAmerica Title Company filed for for
Chapter 11 relief on March 27, 2009.   LandAmerica Credit
Services, Inc., filed for Chapter 11 in July 2009.

LandAmerica filed a Joint Plan of Liquidation on Sept. 9, 2009.
The Bankruptcy Court confirmed that plan on Nov. 23, 2009, and the
plan took effect on Dec. 7, 2009.


LANDAMERICA FINANCIAL: Former Executives Fight Tolling Agreement
----------------------------------------------------------------
Eric Hornbeck at Bankruptcy Law360 reports that former executives
of LandAmerica Financial Group Inc. cried foul Tuesday in Virginia
bankruptcy court over an agreement to toll claims in a proposed
employee class action against them, claiming they were never
consulted about the matter.

Law360 relates that the executives, including former CEO Theodore
Chandler, ex-Chief Financial Officer G. William Evans and former
independent members of the board of directors, allege that
LandAmerica's trustee didn't consult them before agreeing to apply
a two-year-old tolling agreement to the proposed class action.

                     About LandAmerica Financial

LandAmerica Financial Group, Inc., provided real estate
transaction services with offices nationwide and a vast network of
active agents.  LandAmerica Financial Group and its affiliate
LandAmerica 1031 Exchange Services, Inc. filed for Chapter 11
protection Nov. 26, 2008 (Bankr. E.D. Va. Lead Case No. 08-35994).
Attorneys at Willkie Farr & Gallagher LLP and McGuireWoods LLP
served as co-counsel.  Zolfo Cooper served as the restructuring
advisor.  Epiq Bankruptcy Solutions served as claims and notice
agent.

Attorneys at Akin Gump Strauss Hauer & Feld LLP and Tavenner &
Beran, PLC, served as counsel to the Creditors Committee of 1031
Exchange.  Bingham McCutchen LLP and LeClair Ryan served as
counsel to the Creditors Committee of LFG.

In its bankruptcy petition, LFG reported total assets of
$3,325,100,000, and total debts of $2,839,800,000 as of
Sept. 30, 2008.

On March 6, 2009, affiliate LandAmerica Assessment Corporation,
aka National Assessment Corporation, filed its own Chapter 11
petition.  Affiliate LandAmerica Title Company filed for for
Chapter 11 relief on March 27, 2009.   LandAmerica Credit
Services, Inc., filed for Chapter 11 in July 2009.

LandAmerica filed a Joint Plan of Liquidation on Sept. 9, 2009.
The Bankruptcy Court confirmed that plan on Nov. 23, 2009, and the
plan took effect on Dec. 7, 2009.

Bruce Matson has been named as trustee overseeing the LandAmerica
Financial Group Liquidation Trust.  Jeff Sabin, Esq., at Bingham
McCutchen, is representing the trustee.  Buddy Allen and Robert
Best, Esq., at LeClairRyan, also serve as counsel.


LAS VEGAS MONORAIL: To Present Plan for Confirmation Sept. 16
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Nevada has approved
the disclosure statement accompanying the Debtor's Third Amended
Plan of Reorganization.

The Disclosure Statement has been modified to reflect the changes
made or ordered at the June 8 and June 20 hearings on the adequacy
of the plan disclosures.

The hearing to consider confirmation of the Plan will be held on
Sept. 16, 2011, at 9:30 a.m. and will continue thereafter on Sept.
19, 2011.

A copy of the Disclosure Statement accompanying the Debtor's Third
Amended Plan of Reorganization is available at:

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

The Plan provides for these terms:

   * Unsecured creditors, with claims totaling as much as
$175,000, are to be paid, in installments over a year, the lesser
of (i) 100% of their allowed claims or (ii) pro rata share of
$175,000.

   * Holders of $500 million in first-lien bonds would receive (i)
$15 million in new 10% first-lien notes to mature in June 2019
(under which Monorail can elect to pay interest with more notes
through 2014); and (ii) $19.5 million in second-lien notes to
mature in June 2019.  For their unsecured deficiency claim, the
first-lien bondholders are in a separate class that would receive
$10 million in third-lien notes that likewise pay interest with
more debt.

   * Holders of $158.7 million in second-tier bonds and $48.5
million in third-tier bonds receive nothing in the plan.

                     About Las Vegas Monorail

Las Vegas, Nevada-based Las Vegas Monorail Company, organized by
the State of Nevada in 2000 as a nonprofit corporation, owns and
manages the Las Vegas Monorail.  The Monorail is a seven-stop,
elevated train system that travels along a 3.9-mile route near the
Las Vegas Strip.  LVMC has contracted with Bombardier Transit
Corporation to operate the Monorail.  Though it benefits from its
tax-exempt status due to being a nonprofit entity, LVMC claims to
be the first privately-owned public transportation system in the
nation to be funded solely by fares and advertising.  LVMC says it
receives no governmental financial support or subsidies.

The Company filed for Chapter 11 bankruptcy protection (Bankr. D.
Nev. Case No. 10-10464) on Jan. 13, 2010.  Gerald M. Gordon, Esq.,
at Gordon Silver, assists the Company in its restructuring effort.
Alvarez & Marsal North America, LLC, is the Debtor's financial
advisor.  Stradling Yocca Carlson & Rauth is the Debtor's special
bond counsel.  Jones Vargas is the Debtor's special corporate
counsel.  The Company disclosed $395,959,764 in assets and
$769,515,450 in liabilities as of the Petition Date.

In May 2010, Ambac Assurance Corp. lost its bid to stay the
bankruptcy case while a district court considers whether the
bankruptcy court wrongly rejected Ambac's argument that Monorail
was a municipality and thus ineligible to be a Chapter 11 debtor.


LEHMAN BROTHERS: FINRA Awards $5MM Damages Against Neuberger
------------------------------------------------------------
The Iavarone Law Firm and Block & Landsman disclosed that a FINRA
arbitration panel in Chicago, IL awarded damages of $5 million
against Neuberger Berman and it's broker Brian Hahn in connection
with the sale of Lehman Brothers structured products to three high
net worth customers, two from California and one from Illinois.
The investors were represented by Nicholas P. Iavarone -- http://
www.iavaronefirm.com -- and Alan F. Block -- http://www.block-
landsman.com -- who jointly represent customers in disputes with
the securities industry.

According to Mr. Iavarone and Mr. Block, in the summer of 2008,
Neuberger Berman wealth manager Brian Hahn solicited the customers
to invest in the comBATS and XLF Lehman Brothers Structured Notes.
One of the customers had also invested $1 million in Libertyview
Credit Select, a Neuberger Berman private equity hedge fund that
hypothecated its assets to Lehman Brothers.  "The customers were
all told that the principal of the structured notes were either
fully protected or partially protected.  Neither Neuberger Berman
or Brian Hahn adequately disclosed the fact that the investments
were actually Lehman Brothers debt instruments and not investments
in the underlying indices," said Mr. Iavarone.  "The marketing of
Lehman Brother structured notes targeted investors," Mr. Iavarone
continued, "Especially high net worth individuals, in an effort to
raise funds for Lehman Brothers under the guise of principal
protected notes.  When Lehman Brothers declared bankruptcy, the
value of the structured notes became virtually worthless."

"The award represents 100% of the money the clients invested in
the Lehman Brothers Structured Notes and in Libertyview Credit
Select hedge fund," according to Mr. Block. Mr. Block stated that
Dr. Craig McCann of SLCG Securities Litigation and Consulting
Group testified at the hearing that the structured products were
unsuitable and worth substantially less than the price at which
they were sold in the offerings because of Lehman's extraordinary
credit risk in 2007 and 2008.

                       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)


LIMESTONE FURNITURE: BBB Encourages Creditors to File Claim
-----------------------------------------------------------
WAFF reports that the Better Business Bureau is urging those who
have a claim against the Limestone Furniture Mart to make sure
their names are on the list.  "We do want to make sure that those
have filed a complaint with the Better Business Bureau who have an
outstanding purchase with the company are aware of this and can
verify that their name is appearing on the list of creditors for
this bankruptcy," said Michele Mason.  To find out if your are on
the list, call the bankruptcy court at 256-584-7900, she said.

Limestone Furniture Mart, Inc., filed a Chapter 11 petition
(Bankr. N.D. Ala. Case No. 11-82314) on July 6, 2011, estimating
assets and debts in the range of $100,000 to $500,000.


LINDEN PONDS: Lighting Plant Won't Cut Off Electricity Supply
-------------------------------------------------------------
Jessica Bartlett at boston.com reports that, although Linden Ponds
owes Hingham Muncipal Lighting Plant approximately $175,000 in
delinquent bills, the plant has no plans to shut off the
electricity at the senior retirement community.  Linden Ponds has
failed to pay its electricity bills since the end of June, after
the company's bankruptcy filing, said Paul Heanue, interim general
manager of the municipal utility.  Despite the unpaid bills, the
lights at Linden will stay on.

                       About Hingham Campus

Linden Ponds Inc. operates a 108-acre continuing care retirement
community located at 300 Linden Ponds Way in Hingham,
Massachusetts.  The facility has 988 independent living units
(with an occupancy rate of 87.9%) and 132 skilled nursing beds
(68% occupancy rate).

Linden Ponds leases the facility and the property upon which it is
built from Hingham Campus LLC.  Hingham is the owner of the
facility and owns the fee simple interest in the property upon
which the facility is built.  Senior Living Retirement
Communities, LLC, formerly known as Erickson Retirement
Communities, LLC, owns 100% of the membership interests in
Hingham.

Hingham Campus and Linden Ponds filed a pre-negotiated Chapter 11
petition (Bankr. N.D. Tex. Lead Case No. 11-33912) in Dallas on
June 15, 2011.  Hingham Campus estimated assets and debts of $100
million to $500 million.  Debt includes $156.4 million owing on
bonds issued by the Massachusetts Development Finance Agency, with
Wells Fargo Bank, National Association, as the bond trustee.

Erickson Retirement Communities sought bankruptcy protection
(Bankr. N.D. Tex. Case No. 09-37010) on Oct. 19, 2009.  Erickson,
the owner of 20 senior living facilities, won approval of its
reorganization plan in April 2010.  The Erickson plan provided for
a sale to Redwood Capital, the highest bidder at the auction in
December 2009.  Redwood won the auction with an all-cash bid of
$365 million.

Attorneys at DLA Piper LLP (US) represent Hingham in the Chapter
11 case.  Attorneys at McGuire, Craddock & Strother, P.C., and
Whiteford, Taylor And Preston, L.L.P., represent Linden Ponds.


LODGE AT BIG SKY: Chapter 7 Trustee Strikes Deal to Sell Condos
---------------------------------------------------------------
Bankruptcy Judge Ralph B. Kirscher approved a stipulation between
Joseph V. Womack, the Chapter 7 Trustee of The Lodge at Big Sky,
LLC, and The Lodge at Big Sky Management Company, LLC, and First
Financial Bank, N.A. for the sale of collateral.  Creditor SEC
Realty LLC objected.

In its schedules, the Debtor asserts that its 85 condominium units
have a current value of $3.5 million.  The Debtor discloses on its
bankruptcy Schedule D that First Financial is owed $8,188,777 and
SEC is owed $1,775,000.  While the fair market value of the
Debtor's 85 condominium units has not been ascertained, all
parties agree that the value of the condominium units is
substantially less than what is owed First Financial.

The Chapter 7 Trustee would like to operate the Debtors' assets as
a going concern in an effort to preserve and protect the Debtors'
assets for the benefit of all stakeholders and provide for the
orderly liquidation of the Debtors' assets.  To that end, the
Chapter 7 Trustee has an immediate need to (a) manage the hotel as
an operating entity to preserve its value as an ongoing business
entity, (b) evaluate and preserve the Debtors' assets, and (c)
commence marketing efforts to liquidate the hotel as an ongoing
business entity.  The Chapter 7 Trustee anticipates that the
liquidation of the Debtors' assets will be by sale pursuant to
Sec. 363 of the Bankruptcy Code.

Pursuant to the Stipulation, the Chapter 7 Trustee and the Bank
agree that the Senior Prepetition Lien of First Financial will be
reconveyed after approval of a court-approved sales process of the
Debtors' real and personal property used in connection with "Hotel
Operations", completion of the sales process, and completion of a
closing of sale to a third party purchaser, or First Financial,
should it elect to enter a credit bid.

In exchange for undertaking the liquidation of the Debtors'
assets, including without limitation those assets encumbered by
First Financial's lien, and upon completion of closing of a sale
of the Hotel Operations, First Financial will be responsible for
paying the Trustee as follows:

     a. An amount of $25,000; and

     b. Consistent with the provisions of 11 U.S.C. Sec. 326,
        a pro rata percentage of the administrative fees and
        expenses allowed under the Bankruptcy Code, calculated as
        follows:

           (i) Based on valuations found in the Debtors' Schedules
               First Financial and the Chapter 7 Trustee agree
               that First Financial's share of the Chapter 7
               Trustee's administrative fees and expenses incurred
               in connection with liquidation and sale of the
               Debtors' Hotel Operations will be 90%;

          (ii) Solely for the purposes of explanation, assuming a
               sales price of $1,000,000 for Hotel Operations,
               First Financial's share of the Chapter 7 Trustee's
               administrative fees and expenses would be 90% of
               the Chapter 7 Trustee's total administrative fees
               and expenses as calculated using the sliding fee
               scale found at 11 U.S.C. Sec. 362.

The balance of the Trustee's Administrative Expenses will be paid
from other assets of the Debtors.

First Financial agrees that to the extent that it has an allowed,
unsecured, non-priority claim in this case, it will not share in
the distribution of the Unsecured Creditor Carve-Out, but may
share in the distribution from other assets of the Debtors.

The Chapter 7 Trustee's Administrative Expenses may include but
are not limited to realtor and auctioneer fees, hotel expert
consultation fees and expenses, entitlement and land use expert
consultation fees and expenses, accounting fees and expenses and
attorney fees, insurance costs and expenses and Trustee fees and
expenses.

A copy of the Court's July 13, 2011 Memorandum of Decision is
available at http://is.gd/9uOUV5from Leagle.com.

                      About Lodge at Big Sky

The Lodge at Big Sky, LLC, and The Lodge at Big Sky Management own
and operate a 90-unit condominium hotel in Big Sky, Montana.
Lodge and Management filed for Chapter 11 bankruptcy (Bankr. D.
Mont. Case Nos. 10-62229 and 10-62230) on Sept. 14, 2010,
represented by James A. Patten, Esq. -- japatten@ppbglaw.com -- at
Patten, Peterman, Bekkedahl & Green, P.L.L.C.  Both Debtors did
not disclose total assets but reported under $10 million in debts.

Bankruptcy Judge Ralph B. Kirscher opted to convert the Debtors'
Chapter 11 cases to Chapter 7 liquidations, at the behest of the
United States Trustee.  He declined the U.S. Trustee's request for
dismissal of the case.  Joseph V. Womack of Billings, Montana, was
appointed as Chapter 7 Trustee.


LOS ANGELES DODGERS: Committee Wants Highbridge Lien, Fees Cut
--------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the newly formed Los Angeles Dodgers creditors'
committee has no objection to court approval of $150 million in
financing from the team's designated lender, Highbridge Principal
Strategies LLC, an affiliate of JPMorgan Chase & Co.  The
committee, however, only supports a Highbridge loan if it's
unsecured, like the competing financing proposal from Major League
Baseball.  The committee also conditions its support for
Highbridge on reducing the interest rate and the lender's fees.

According to the report, the Creditors Committee says the team is
solvent.  Consequently, the Committee expects a 100% recovery for
unsecured creditors.  The bankruptcy court was slated to decide at
a July 20 hearing whether to approve a loan from Highbridge or
MLB.

The commissioner of baseball filed more papers July 18 saying that
his loan entails a 3% lower interest rate, thus saving $4.5
million a year.  In addition, the commissioner's proposal lacks
$10 million in fees that Highbridge requires.  The commissioner
also noted how his loan wouldn't prohibit taking down other loans
as much as $250 million.

All things considered, the Committee said the commissioner's
proposal is "economically superior" unless Highbridge modifies its
proposal, according to the report.

                   About the Los Angeles Dodgers

Los Angeles Dodgers LLC operates the Los Angeles Dodgers, a
professional Major League Baseball club in the Los Angeles
metropolitan area.  Frank McCourt, a Boston real-estate developer
who unsuccessfully bid for the Boston Red Sox, bought the Dodgers
from Rupert Murdoch's Fox Entertainment Group, Inc. in 2004 for
$330 million.  Mr. McCourt also bought the Dodgers Stadium from
Fox for $100 million.

Los Angeles Dodgers LLC filed for bankruptcy protection (Bankr. D.
Del. Lead Case No. 11-12010) on June 27, 2011, after MLB
Commissioner Bud Selig rejected a television deal with News
Corp.'s Fox Sports, leaving Mr. McCourt unable to make payroll for
June 30 and July 1.  Fox Sports has exclusive cable television
rights for Dodgers games until the end of 2013 baseball season.

Chapter 11 filings were also made for LA Real Estate LLC, an
affiliated entity which owns Dodger Stadium, and three other
related holding companies.

The petition estimates assets of up to $500 million and debts of
up to $1 billion.  According to Forbes, the team is worth about
$800 million, making it the third most valuable baseball team
after the New York Yankees and the Boston Red Sox.

Judge Kevin Gross presides over the case.  Lawyers at Young,
Conaway, Stargatt & Taylor and Dewey & LeBoeuf LLP serve as the
Debtors' bankruptcy counsel.  Epiq Bankruptcy Solutions LLC is the
claims and notice agent.

The LA Dodgers is the 12th sports team in North America to have
sought bankruptcy protection, according to The Wall Street
Journal.


LOS ANGELES DODGERS: Hiding Details of $150M Loan, Says US Trustee
------------------------------------------------------------------
American Bankruptcy Institute reports that the government's
bankruptcy watchdog said the Los Angeles Dodgers are hiding the
ball when it comes to disclosing details of the $150 million
chapter 11 loan it is seeking to tap from a New York hedge fund.

                   About the Los Angeles Dodgers

Los Angeles Dodgers LLC operates the Los Angeles Dodgers, a
professional Major League Baseball club in the Los Angeles
metropolitan area.  Frank McCourt, a Boston real-estate developer
who unsuccessfully bid for the Boston Red Sox, bought the Dodgers
from Rupert Murdoch's Fox Entertainment Group, Inc. in 2004 for
$330 million.  Mr. McCourt also bought the Dodgers Stadium from
Fox for $100 million.

Los Angeles Dodgers LLC filed for bankruptcy protection (Bankr. D.
Del. Lead Case No. 11-12010) on June 27, 2011, after MLB
Commissioner Bud Selig rejected a television deal with News
Corp.'s Fox Sports, leaving Mr. McCourt unable to make payroll for
June 30 and July 1.  Fox Sports has exclusive cable television
rights for Dodgers games until the end of 2013 baseball season.

Chapter 11 filings were also made for LA Real Estate LLC, an
affiliated entity which owns Dodger Stadium, and three other
related holding companies.

The petition estimates assets of up to $500 million and debts of
up to $1 billion.  According to Forbes, the team is worth about
$800 million, making it the third most valuable baseball team
after the New York Yankees and the Boston Red Sox.

Judge Kevin Gross presides over the case.  Lawyers at Young,
Conaway, Stargatt & Taylor and Dewey & LeBoeuf LLP serve as the
Debtors' bankruptcy counsel.  Epiq Bankruptcy Solutions LLC is the
claims and notice agent.

The LA Dodgers is the 12th sports team in North America to have
sought bankruptcy protection, according to The Wall Street
Journal.


LOS ANGELES DODGERS: Sought Goldman, BofA & Time Warner for Loan
----------------------------------------------------------------
Eric Morath, writing for Dow Jones' Daily Bankruptcy Review,
reports that Los Angeles Dodgers Assistant Treasurer Jeffery
Ingram told the Bankruptcy Court at a hearing Wednesday that the
baseball team approached other parties days before the bankruptcy
filing for possible loans.

     (1) Time Warner Cable Inc.

According to DBR, Mr. Ingram said the talks with Time Warner Cable
"went nowhere."  Mr. Ingram did not explain why the team thought
Time Warner Cable, which is an advertising sponsor of the Dodgers,
would be interested in providing such a loan.  One possibility,
according to DBR, is that loan could have given the cable company
a chance to work with the team to create a regional sports
network.

Mr. Ingram did say that the Dodgers had talks with their current
television broadcast partner, News Corp.'s Fox Sports, about
creating a regional sports network or extending their broadcast
agreement.  DBR notes the Dodgers' current contract with Fox
barred the team from reaching out to other parties to negotiate a
rival deal.  News Corp. also owns Dow Jones & Co., publisher of
The Wall Street Journal.

     (2) Goldman Sachs Group Inc.

According to DBR, Mr. Ingram said Goldman Sachs declined to extend
financing because it "didn't want to do anything that would be
adverse to Major League Baseball."

     (3) Bank of America

DBR relates Mr. Ingram said Bank of America declined to extend a
loan off its own balance sheet, but offered to help facilitate a
loan.  BofA introduced the team to a GE Capital affiliate.  Mr.
Ingram said the GE Capital unit initially priced the loan but then
backed away fearing "complications with that Major League
Baseball."

The Dodgers are seeking permission to tap a $150 million
bankruptcy loan from Highbridge Capital Management, a hedge fund
owned by J.P. Morgan Chase & Co.  MLB is offering rival financing
on an unsecured basis and with lower interest rate.

According to DBR, Mr. Ingram also told the Court the team decided
not to ask the league for financing. "We didn't want them to be
our lender," he said.  Mr. Ingram described before the Court the
tense relationship between MLB Commissioner Bud Selig and Dodgers
owner Frank McCourt, saying the league made it difficult for the
team to access financing prior to its bankruptcy filing and was at
odds with the team over its attempt to sell its future broadcast
rights to stabilize its finances.

The Dodgers attorney said MLB's true motivation for the loan is to
gain a greater degree of control over the team.

                   About the Los Angeles Dodgers

Los Angeles Dodgers LLC operates the Los Angeles Dodgers, a
professional Major League Baseball club in the Los Angeles
metropolitan area.  Frank McCourt, a Boston real-estate developer
who unsuccessfully bid for the Boston Red Sox, bought the Dodgers
from Rupert Murdoch's Fox Entertainment Group, Inc. in 2004 for
$330 million.  Mr. McCourt also bought the Dodgers Stadium from
Fox for $100 million.

Los Angeles Dodgers LLC filed for bankruptcy protection (Bankr. D.
Del. Lead Case No. 11-12010) on June 27, 2011, after MLB
Commissioner Bud Selig rejected a television deal with News
Corp.'s Fox Sports, leaving Mr. McCourt unable to make payroll for
June 30 and July 1.  Fox Sports has exclusive cable television
rights for Dodgers games until the end of 2013 baseball season.

Chapter 11 filings were also made for LA Real Estate LLC, an
affiliated entity which owns Dodger Stadium, and three other
related holding companies.

The petition estimates assets of up to $500 million and debts of
up to $1 billion.  According to Forbes, the team is worth about
$800 million, making it the third most valuable baseball team
after the New York Yankees and the Boston Red Sox.

Judge Kevin Gross presides over the case.  Lawyers at Young,
Conaway, Stargatt & Taylor and Dewey & LeBoeuf LLP serve as the
Debtors' bankruptcy counsel.  Epiq Bankruptcy Solutions LLC is the
claims and notice agent.

The LA Dodgers is the 12th sports team in North America to have
sought bankruptcy protection, according to The Wall Street
Journal.


LOWER BUCKS: Has Bucks County-Backed Reorganization Plan
--------------------------------------------------------
Lower Bucks Hospital has submitted a reorganization plan that
calls for keeping the 186-bed medical center independent.

Under the Plan, the Bucks County Redevelopment Authority will
borrow $14 million, which will be used to purchase the hospital
and other buildings on its 36-acre campus.  Lower Bucks Hospital
will use the proceeds from the sale to pay down its debt and enter
into a 20-year, lease-buyback deal with the redevelopment
authority to repay the loan with interest.

Funds required for the initial distribution under the Plan are to
come from a monetization of the Debtor's table gaming grants,
through the issuance of the 2011 bonds, a mortgage loan secured by
enterprises, and certain cash contribution from the Debtors.  The
Plan also contemplates the issuance of a creditor note and other
post-confirmation payments to creditors.

The Plan, among other things, proposes to pay holders of unsecured
creditors -- owed $7.35 million -- an estimated 10.6% in cash on
the initial distribution date plus payments on a creditor note,
over four years, that will result in a 18.5% recovery on allowed
general unsecured claims on a net present value basis, so long as
allowed general unsecured claims do not exceed in the aggregate
amount of $9 million.

A full-text copy of the Disclosure Statement is available for free
at http://bankrupt.com/misc/LOWERBUCKS_DS.pdf

A full-text copy of the Plan of Reorganization is available for
free at http://bankrupt.com/misc/LOWERBUCKS_Plan.pdf

                   About Lower Bucks Hospital

Bristol, Pennsylvania-based Lower Bucks Hospital is a non-profit
hospital based in Bristol, Pennsylvania.  The Hospital is
currently licensed to operate 183 beds.  Together with affiliates
Advanced Primary Care Physicians and Lower Bucks Health
Enterprises, Inc., Lower Bucks owns a 36-acre campus with several
medical facilities.  The Hospital's emergency room serves
approximately 30,000 patients annually.  For the fiscal year
ending June 30, 2009, Lower Bucks had $114 million in consolidated
revenues.

The Hospital filed for Chapter 11 bankruptcy protection (Bankr.
E.D. Pa. Case No. 10-10239) on Jan. 13, 2010.  The Hospital's
affiliates -- Lower Bucks Health Enterprises, Inc, and Advanced
Primary Care Physicians also filed Chapter 11 petitions.  Jeffrey
C. Hampton, Esq., and Adam H. Isenberg, at Saul Ewing LLP, assist
the Hospital in its restructuring effort.  Donlin, Recano &
Company, Inc., is the Hospital's claims and notice agent.  The
Debtors tapped Zelenkofske Axelrod LLC for the provision of tax
preparation services.  The Hospital estimated assets and
liabilities at $50 million to $100 million .


LUXURY VENTURES: Silverio & Hall Can't Collect Fees From Trustee
----------------------------------------------------------------
District Judge Charlene Edwards Honeywell affirmed a bankruptcy
court ruling denying the application of Mark V. Silverio and
Silverio & Hall, P.A. for payment of attorneys fees by the
liquidating trustee for Luxury Ventures, LLC.  Silverio & Hall
filed the appeal in May 2009.  The firm takes the view that the
Debtor's reorganization plan does not require Bankruptcy Court
approval for post-confirmation legal fees.  The firm did not
obtain approval -- either from the Bankruptcy Court or from the
Liquidating Trustee -- for their services.  Judge Honeywell said
the plan is clear, however, that Bankruptcy Court approval is
necessary to recover those fees.  The judge also said the firm did
not represent the Liquidating Trustee; its efforts were made on
behalf of their client, the Debtor.

Silverio & Hall was retained as counsel for Luxury Ventures and
Patrick Hopper, Kevin Waters, and Robert Baumgardner in an April
2007 lawsuit they filed against Henricks Jewelry, Inc., and owner
Richard Grimes.  Luxury Ventures was formed in 2002 by Patrick
Hopper, Kevin Waters, and Robert Baumgardner to facilitate the
acquisition of Henricks Jewelry, Inc.  In the lawsuit, Messrs.
Hopper, Waters, and Baumgardner alleged fraud, fraudulent
inducement, breach of contract, breach of fiduciary duty,
negligence, and conversion as a result of representations
allegedly made in conjunction with the Henricks acquisition.

The purchase was consummated in April 2003 for an adjusted price
of $9 million.  To finance the purchase, Messrs. Hopper, Waters
and Baumgardner delivered a promissory note to Mr. Grimes in a
principal amount of $4.5 million.  Additional financing was
secured through loan and security agreements issued by Wester
Business Credit Corporation and Sangam Diamonds Corporation.

After a plan was confirmed in the Debtor's case, S&H continued to
represent Luxury Ventures in the Grimes action, but, due to a
conflict, ceased representing the individual plaintiffs in that
action.  During its representation of Luxury Ventures, S&H
provided the Liquidating Trustee with reports regarding the Grimes
action, and also provided a projection of fees and costs that S&H
would need to incur to litigate the action to its conclusion.  The
Liquidating Trustee never responded to these projections, except
to state that he needed time to consider his position regarding
the Grimes action.  Although no formal engagement was ever
consummated, S&H continued to communicate with the Liquidating
Trustee, and S&H continued its involvement with the suit.

In November 2008, the Liquidating Trustee settled all of Luxury
Venture's claims in the Grimes action.  The settlement required
Mr. Grimes and Henricks to pay the trust $10,000 and allowed the
claims as general unsecured claims.  The settlement was contested
by S&H on behalf of its client, the Reorganized Debtor.  The
Grimes action settlement agreement was approved by the Bankruptcy
Court in January 2009.

The case is Mark V. Silverio and Silverio & Hall, P.A., v. Gerald
A. McHale, Jr., the Liquidating Trustee, Case No. 2-09-cv-180
(M.D. Fla.).  A copy of the Court's July 14, 2011 Order is
available at http://is.gd/Brkf8Qfrom Leagle.com.

                       About Luxury Ventures

Bonita Springs, Florida-based Luxury Ventures LLC does business as
Henricks Jewelers and sells and retails jewelries.  It filed for
chapter 11 bankruptcy (Bankr. M.D. Fla. Case No. 07-11224) on
Nov. 19, 2007.  Judge Alexander L. Paskay presides the case.  Paul
J. Battista, Esq., at Genovese, Joblove & Battista PA, represents
the Debtor in its restructuring efforts.  The Debtor estimated
$1 million to $100 million in assets and debts as of the Chapter
11 filing.

The Bankruptcy Court entered an order confirming the plan in June
2008.  Gerald A. McHale, Jr., was named liquidating trustee.  In
August 2008, Luxury Ventures said Kairos Capital Partners made an
equity investment in the company in exchange for an ownership
stake.


MAHAMMAD QURESHI: Forced to Seek Ch. 11 Due to Guarantees
---------------------------------------------------------
Paul Brinkmann at the South Florida Business Journal reports that
Palm Beach County businessman Mahammad Qureshi, who built a
network of companies to own convenience stores and gas stations,
has commenced a personal Chapter 11 bankruptcy case.  Mr.
Qureshi's personal bankruptcy follows Chapter 11 filings for four
of his Florida companies, where he has filed paperwork outlining
debt of $30 million and assets of $16.39 million.

According to the report, attorneys for Mr. Qureshi said the
bankruptcy was filed when BB&T Bank in Orlando was preparing to
seek final judgment of $14 million on personal guarantees Qureshi
had made.  "The bank was either unwilling or unable to modify the
loans," the report quotes Joe Grant, Mr. Qureshi's personal
bankruptcy attorney.

Mahammad Qureshi filed a Chapter 11 petition (Bankr. S.D. Fla.
Case No. 11-29148) on July 10, 2011.


MAJESTIC CAPITAL: Committee Wants to Hire J.H. Cohn as Advisors
---------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
cases of Majestic Capital, Ltd., and its debtor affiliates asks
the U.S. Bankruptcy Court for the Southern District of New York
for permission to retain J.H. Cohn LLP as its financial advisors.

JHC will, among other things:

   a) analyze and review key motions to identify strategic
      case issues;

   b) gain an understanding of Debtors' corporate structure
      and related parties; and

   c) perform a preliminary assessment of the Debtors'
      financial condition.

JHC's normal billing rates for the financial advisory services of
the nature to be rendered to the Committee are:

         Partner                                $580 - $790
         Managers, Senior Managers, Directors   $420 - $610
         Other Professional Staff               $260 - $400
         Paraprofessionals                         $180

As an accommodation to the Committee, JHC has agreed to a 10%
discount on these rates.

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

                   About Majestic Capital, Ltd.

Headquartered in Poughkeepsie, New York City, Majestic Capital,
Ltd., fdba CRM Holdings, Inc., filed for Chapter 11 protection
(Bankr. S.D. N.Y. Case No. 11-36225) on April 29, 2011.

Affiliates also sought Chapter 11 protection Bankr. S.D. N.Y. Case
Nos. 11-36221 - 11-36234) on April 29, 2011.  Bankruptcy Judge
Cecelia G. Morris presides over the case.  Thomas Genova, Esq., at
Genova & Malin, Attorneys represents the Debtors in their
restructuring effort.  Murphy & King, P.C. serves as the Debtors'
co-counsel.  The Debtors tapped Michelman & Robinson, LLP, as
special counsel, and Day Seckler, LLP, as accountants and
financial advisors.  The Debtor disclosed $436,191,000 in assets
and $421,757,000 in liabilities as of Dec. 31, 2010.

The Official Committee of Unsecured Creditors has tapped the law
firm of Jager Smith P.C. as its counsel.


MAJESTIC CAPITAL: Creditors Committee Taps Jager Smith as Counsel
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
cases of Majestic Capital, Ltd., and its debtor affiliates asks
the U.S. Bankruptcy Court for the Southern District of New York
for permission to retain the law firm of Jager Smith P.C. as its
counsel.

Jager Smith will, among other things:

   a. attend hearings, draft pleadings and generally advocate
      positions that further the interests of the creditors
      represented by the Committee;

   b. assist in the examination of the Debtors' affairs and a
      review of their prepetition operations;

   c. advise the Committee as to the progress of these cases.

Jager Smith's rates vary with the experience and seniority of the
attorneys involved in a particular matter.  Jager Smith will
charge a blended rate of $460 per hour for the services to be
rendered on behalf of the Committee.

To the best of the Committee's knowledge, Jager Smith is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

The firm can be reached at:

         Bruce F. Smith, Esq.
         Steven C. Reingold, Esq.
         JAGER SMITH P.C.
         485 Madison Avenue, 20th Floor
         New York, NY 10022
         Tel: (212) 683-3520
         E-mails: bsmith@jagersmith.com
                  sreingold@jagersmith.com

                   About Majestic Capital, Ltd.

Headquartered in Poughkeepsie, New York City, Majestic Capital,
Ltd., fdba CRM Holdings, Inc., filed for Chapter 11 protection
(Bankr. S.D. N.Y. Case No. 11-36225) on April 29, 2011.

Affiliates also sought Chapter 11 protection Bankr. S.D. N.Y. Case
Nos. 11-36221 - 11-36234) on April 29, 2011.  Bankruptcy Judge
Cecelia G. Morris presides over the case.  Thomas Genova, Esq., at
Genova & Malin, Attorneys represents the Debtors in their
restructuring effort.  Murphy & King, P.C. serves as the Debtors'
co-counsel.  The Debtors tapped Michelman & Robinson, LLP, as
special counsel, and Day Seckler, LLP, as accountants and
financial advisors.  The Debtor disclosed $436,191,000 in assets
and $421,757,000 in liabilities as of Dec. 31, 2010.

The Official Committee of Unsecured Creditors has tapped J.H. Cohn
LLP as its financial advisors.


MARITIME STEEL: Prosecution of 2009 Death at Firm in Limbo
----------------------------------------------------------
The Canadian Press reports that the Crown has asked for a stay in
the case against Maritime Steel and Foundries involving the death
of a worker.  Maritime Steel was charged in September 2010 under
the Occupational Health and Safety Act.

An accident on Nov. 24, 2009, resulted in the death of 59-year-old
Lloyd Keith Fancy, according to the report.

The report notes that Crown Attorney Peter Craig told provincial
court Monday that since the Company is now in receivership, there
is no one to prosecute in the case.  The Crown has up to 12 months
to reinstate the charges.

The Company faced a number of charges under the act, including
failing to follow the safety specifications of machinery, the
report notes.

                       About Maritime Steel

Headquartered in Nova Scotia, Maritime Steel and Foundries is a
steel foundry, which started up in 1902.

Maritime Steel was forced into receivership after parent company
Cameron Corporation called in a $17.8-million loan that couldn't
be paid.  Cameron persuaded a Nova Scotia Supreme Court judge to
appoint BDO Canada as the receiver for the company.
Carl Holm, Esq., represents Cameron Corp.


MAX & ERMA'S: Adds Restaurant Locations After Bankruptcy Purchase
-----------------------------------------------------------------
Matthew Hibbard at the St. Louis Business Journal reports that Max
& Erma's said it is adding more restaurants to the St. Louis
region after reorganizing through Chapter 11 bankruptcy and
finding a new owner.

The report notes the company's former owner, Gary Reinert Sr., is
still in bankruptcy.

Mr. Hibbard relates that one of the St. Louis area's new Max &
Erma's will be located in the space previously occupied by
Hanley's Grill and Tap and J. Buck's near St. Clair Square in
Fairview Heights, Illinois.  It will be owned by local
restaurateurs Ed Goergen and Steve Welkener.

                        About Max & Erma's

Max & Erma's owns a chain of 106 restaurants located in
Pennsylvania, Ohio, and Michigan, with a few in Chicago,
Washington, Atlanta, and Kentucky.  About 79 are company-owned and
operated, while 27 belong to franchisees.  Max & Erma's is owned
by G&R Acquisitions, North Side.  The chain started operating in
1972, taking the Max & Erma's name from two owners of a bar.

Max & Erma's Restaurant, Inc., sought chapter 11 protection
(Bankr. W.D. Pa. Case No. 09-27807) in Oct. 2009.  At the time of
the filing, the Debtor estimated its assets and debts at less than
$10 million.

Following an auction for Max & Erma's assets, Blue Ribbon Holdings
LLC emerged the winning bidder with an offer of $28 million for
the business.  Concept Development Partners LLC, which made a
$26.4 million for the Company's assets, was named back-up bidder.


MCBURNEY CORP: Business as Usual While in Chapter 11
----------------------------------------------------
The Atlanta Business Chronicle reports that Norcross, Georgia-
based McBurney Corp., a biomass energy systems company, filed for
Chapter 11 bankruptcy protection.  The company said it was forced
into Chapter 11 after several large customers filed bankruptcy
petitions or defaulted on contracts with McBurney.  The Company
said it plans to reorganize and emerge from Chapter 11 as soon as
possible.  It aims to continue operating in the ordinary course of
business and pay employee wages and benefits.

McBurney Power Limited, McBurney Corp. of California and McBurney
BioEnergy SRL are not part of the bankruptcy filing.

The McBurney Corporation filed a Chapter 11 petition (Bankr. N.D.
Ga. Case No. 11-70684) on July 15, 2011.  James S. Rankin, Jr.,
Esq., and Tyronia M. Smith, Esq., at Parker, Hudson, Rainer &
Dobbs LLP, in Atlanta, Georgia, serves as counsel to the Debtor.
The Debtor estimated assets and debts of up to $10 million.


MT. VERNON: Case Summary & 21 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Mt. Vernon Properties, LLC
        355 North Calvert Street
        Baltimore, MD 21202

Bankruptcy Case No.: 11-24801

Chapter 11 Petition Date: July 18, 2011

Court: U.S. Bankruptcy Court
       District of Maryland (Baltimore)

Judge: David E. Rice

Debtor's Counsel: Aryeh E. Stein, Esq.
                  MERIDIAN LAW, LLC
                  104 Church Lane, Suite 100
                  Baltimore, MD 21208
                  Tel: (443) 326-6011
                  E-mail: astein@meridianlawfirm.com

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

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

The petition was signed by Ronald Persaud, managing member of Mt.
Vernon Properties, II, LLC, sole member.

Debtor's List of 21 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
City National Bank                 Bank Loan              $226,266
P.O Box 60938
Los Angeles, CA 90060

Baltimore City Department of       Taxes                  $140,000
Finance
200 Holiday Street
Baltimore, MD 21202

City of Baltimore (Water Bill)     Trade Debt              $62,000
200 Holiday Street
Baltimore, MD 21202

BGE                                Trade Debt              $45,000

State Farm Insurance               Trade Debt              $36,000

Schoenfeld Insurance               Trade Debt              $36,000

J. Mayo CPA Inc.                   Trade Debt              $15,000

Home Depot CRC                     Trade Debt              $15,000

PNC Bank                           Trade Debt              $14,000

Lowes                              Trade Debt              $12,500

Blades & Rosenfeld                 Trade Debt              $12,500

Aarons Appliance                   Trade Debt               $8,450

MD Dept of the Environment         --                       $8,200

Peoples Electrical                 --                       $6,800

IWIF Workers Compensation          Trade Debt               $6,715

Ferguson Ent., Inc.                Trade Debt               $6,650

McCormick Paints                   Trade Debt               $6,200

SDAT                               Trade Debt               $6,200

Crown Lumber & Supply              Trade Debt               $4,500

Comptroller of MD                  Taxes                    $3,500

Milton Carpet                      Trade Debt               $3,500


MTR GAMING: S&P Withdraws Preliminary 'B-' Issue-Level Rating
-------------------------------------------------------------
Standard & Poor's Ratings Services withdrew its preliminary 'B-'
issue-level rating and preliminary '3' recovery rating on Chester,
W.Va.-based gaming operator MTR Gaming Group Inc.'s proposed $500
million senior secured notes due 2019. The rating withdrawal
follows the company's announcement that it will not move forward
with plans to issue the senior secured notes, because of current
market conditions. "Our 'B-' corporate credit rating and stable
outlook on MTR remain unchanged," S&P said.

"We expect MTR to continue to seek financing over the near term to
refinance its upcoming 2012 maturity, and to develop a video
lottery gaming facility at Scioto Downs in Ohio. Absent progress
in the near term toward securing financing to at least address the
June 2012 maturity of its 9% senior subordinated notes, the rating
could be pressured. The 'B-' corporate credit rating reflects
MTR's vulnerable business risk profile, given its limited
diversity and competitive pressures facing both of its existing
properties," S&P related.

"We expect MTR's existing properties will face ongoing competition
from the Pennsylvania gaming market, as well as increased
competitive pressures from new gaming facilities expected to open
in Ohio over the next year," S&P said.

Ratings List

MTR Gaming Group Inc.
Corporate Credit Rating          B-/Stable/--

Withdrawn
                                  To              From
MTR Gaming Group Inc.
500 mil. sr secd notes due 2019  NR              B-(prelim)
   Recovery rating                NR              3(prelim)


MUNIRAJ ENTERPRISES: Case Summary & 8 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Muniraj Enterprises, Inc.
        dba Hawthorn Suites Orlando Convention Center
        6435 Westwood Blvd.
        Orlando, FL 32821

Bankruptcy Case No.: 11-13591

Chapter 11 Petition Date: July 18, 2011

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

Debtor's Counsel: Christopher C Todd, Esq.
                  MCINTYRE, PANZARELLA, THANASIDES, ET AL
                  400 N. Ashley Drive, Suite 1500
                  Tampa, FL 33602
                  Tel: (813) 899-6059
                  Fax: (813) 899-6069
                  E-mail: chris@mcintyrefirm.com

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

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

A list of the Company's eight largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/flmb11-13591.pdf

The petition was signed by Rajendra Patel, director and president.


N.A. PETROLEUM: Curtis Okayed as Equity Panel Counsel
-----------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware has granted
a request by the Official Committee of Equity Security Holders of
North American Petroleum Corporation and its debtor-affiliates to
employ Curtis, Mallet-Prevost, Colt & Mosel LLP as its counsel.

The current hourly rates charged by the firm for professionals and
paraprofessionals are:

   Designations                   Hourly Rates
   ------------                   ------------
   Partners                        $730-830
   Special Counsel and Counsel     $510-625
   Associates                      $300-590
   Paraprofessionals               $190-230

The Equity Committee assures the Court that the firm is a
"disinterested person" within the meaning of the Bankruptcy Code.

                 About North American Petroleum

Denver, Colorado-based North American Petroleum Corp. USA is a
natural gas driller.  North American Petroleum and Prize Petroleum
are subsidiaries of Petroflow Energy Ltd.  North American
Petroleum sought Chapter 11 protection (Bankr. D. Del. Case No.
10-11707) on May 25, 2010.  In its schedules, North American
Petroleum disclosed $140,678,983 in total assets and $125,595,183
in total liabilities as of the Petition Date.

The Debtor's affiliate, Prize Petroleum LLC, filed a separate
Chapter 11 petition on May 25, 2010 (Case No. 10-11708).  Prize
Petroleum scheduled $121,945,092 in liabilities.

These cases are being jointly administered for procedural
purposes, under the case docket for North American Petroleum
Corporation USA, Case No. 10-11707.

On Aug. 20, 2010, Petroflow Energy Ltd., the parent company of
North American Petroleum Corporation USA and Prize Petroleum, LLC,
filed a petition in the U.S. Bankruptcy Court for the District of
Delaware seeking relief under Chapter 11 of the Bankruptcy Code
(Case No. 10-12608).  On Sept. 10, 2010, the Bankruptcy Court
granted permission for Petroflow's Chapter 11 case to be jointly
administered with those of its two Chapter 11 debtor-affiliates.
On September 17, 2010, Petroflow received recognition of the U.S.
Chapter 11 proceedings from the Alberta Court of Queen's Bench
under the Companies' Creditors Arrangement Act in Canada.  In its
petition, Petroflow disclosed assets and debts of between
$100 million and $500 million each.

David R. Seligman, Esq., Ryan Blaine Bennett, Esq., and Paul
Wierbicki, Esq., at Kirkland & Ellis LLP, in Chicago, serve as
lead bankruptcy counsel.  Domenic E. Pacitti, Esq., at Klehr
Harrison Harvey Branzburg LLP in Wilmington, Del., and Morton R.
Branzburg, Esq., at Klehr Harrison Harvey Branzburg LLP, in
Philadephia, Pa., serve as the Debtors' co-counsel.  Epiq
Bankruptcy Solutions, LLC, is the Debtors' notice, claims and
balloting agent.


N.A. PETROLEUM: Young Conaway OK'd as Co-Counsel to Equity Panel
----------------------------------------------------------------
The Hon. Christopher S. Sontchi of the U.S. Bankruptcy Court for
the District of Delaware authorized The Official Committee of
Equity Security Holders of North American Petroleum Corporation
and its debtor-affiliates to retain Young Conaway Stargatt &
Taylor LLP as co-counsel.

Young Conaway is consulting with the Equity Committee, the
Debtors, the creditors' committee, and the U.S. trustee concerning
the administration of the Chapter 11 cases.

As reported in the Troubled Company Reporter on June 16, 2011, the
firm's hourly rates range from $280 to $900 per hour for attorneys
and from $130 and $240 per hour for paralegals.

The Equity Committee assured the Court that the firm is a
"disinterested person" within the meaning of the Bankruptcy Code.

                   About North American Petroleum

Denver, Colorado-based North American Petroleum Corp. USA is a
natural gas driller.  North American Petroleum and Prize Petroleum
are subsidiaries of Petroflow Energy Ltd.  North American
Petroleum sought Chapter 11 protection (Bankr. D. Del. Case No.
10-11707) on May 25, 2010.  In its schedules, North American
Petroleum disclosed $140,678,983 in total assets and $125,595,183
in total liabilities as of the Petition Date.

The Debtor's affiliate, Prize Petroleum LLC, filed a separate
Chapter 11 petition on May 25, 2010 (Case No. 10-11708).  Prize
Petroleum scheduled $121,945,092 in liabilities.

These cases are being jointly administered for procedural
purposes, under the case docket for North American Petroleum
Corporation USA, Case No. 10-11707.

On Aug. 20, 2010, Petroflow Energy Ltd., the parent company of
North American Petroleum Corporation USA and Prize Petroleum, LLC,
filed a petition in the U.S. Bankruptcy Court for the District of
Delaware seeking relief under Chapter 11 of the Bankruptcy Code
(Case No. 10-12608).  On Sept. 10, 2010, the Bankruptcy Court
granted permission for Petroflow's Chapter 11 case to be jointly
administered with those of its two Chapter 11 debtor-affiliates.
On Sept. 17, 2010, Petroflow received recognition of the U.S.
Chapter 11 proceedings from the Alberta Court of Queen's Bench
under the Companies' Creditors Arrangement Act in Canada.  In its
petition, Petroflow disclosed assets and debts of between
$100 million and $500 million each.

David R. Seligman, Esq., Ryan Blaine Bennett, Esq., and Paul
Wierbicki, Esq., at Kirkland & Ellis LLP, in Chicago, serve as
lead bankruptcy counsel.  Domenic E. Pacitti, Esq., at Klehr
Harrison Harvey Branzburg LLP in Wilmington, Del., and Morton R.
Branzburg, Esq., at Klehr Harrison Harvey Branzburg LLP, in
Philadephia, Pa., serve as the Debtors' co-counsel.  Epiq
Bankruptcy Solutions, LLC, is the Debtors' notice, claims and
balloting agent.


NEBRASKA BOOK: Files Plan for Pre-Filing Swap Deal
--------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Nebraska Book Co. filed a reorganization plan on
July 17 to carry out the agreement hammered out before the June 27
bankruptcy filing with holders of 95% of the subordinated notes
and 75% of the holding company's 11 percent senior discount notes.

JournalStar.com reports that Nebraska Book creditor support and
court approval to exit bankruptcy by Nov. 3.

Mr. Rochelle relates that under the Plan, the $30 million in
first-lien debt and $200 million in second-lien secured notes will
be paid in full in cash.  General unsecured claims also will be
paid in full.  Holders owed $179 million on subordinated operating
company notes are to receive not less than $30.6 million cash from
proceeds of new second-lien financing, $110 million in new
unsecured notes, and 78% of the new common stock.  Holders of the
$77 million in holding company notes are to receive 22% of the new
equity.  If they vote for the plan and don't oppose confirmation,
existing stockholders can receive warrants for 5% of the new stock
at a price that equates to a $500 million enterprise value for the
reorganized business.

The disclosure statement estimates that the total enterprise value
for the new company on emergence from bankruptcy will be about
$390 million.  Giving allowance for $250 million in new secured
debt and $110 million in the new unsecured notes, the implied
equity value is $27.5 million, according to the disclosure
statement.

                   About Nebraska Book Company

Lincoln, Nebraska-based Nebraska Book Company, Inc., is one of the
leading providers of new and used textbooks for college students
in the United States.  Nebraska Book and seven affiliates filed
separate Chapter 11 petitions (Bankr. D. Del. Case Nos. 11-12002
to 11-12009) on June 27, 2011.  Hon. Peter J. Walsh presides over
the case.  Lawyers at Kirkland & Ellis LLP and Pachulski Stang
Ziehl & Jones LLP, serve as the Debtors' bankruptcy counsel.  The
Debtors' restructuring advisors are AlixPartners LLC; the
investment bankers are Rothschild, Inc.; the auditors are Deloitte
& Touche LLP; and the claims agent is Kurtzman Carson Consultants
LLC.  As of the Petition Date, the Debtors had consolidated assets
of $657,215,757 and debts of $563,973,688.

The Company's $26.3 million first-lien debt matures in October.
Another $200 million of 10% second-lien notes mature in December.
In terms of unsecured debt, $175 million in principal amount of
8.625% subordinated notes issued by the operating company mature
in March 2012.  The holding company also owes $77 million on 11%
senior discount notes.

JPMorgan Chase Bank N.A., as administrative agent for the DIP
lenders, is represented by lawyers at Richards, Layton & Finger,
P.A., and Simpson Thacher & Bartlett LLP.  JPMorgan Investment
Management Inc., the DIP arranger, is represented by lawyers at
Bayard, P.A., and Willkie Farr & Gallagher LLP.

An ad hoc committee of holders of more than 50% of the Debtors'
Second Lien Notes is represented by lawyers at Brown Rudnick.  An
ad hoc committee of holders of the Debtors' 8.625% unsecured
notes are represented by Milbank, Tweed, Hadley & McCloy LLP.

The Official Committee of Unsecured Creditors selected Lowenstein
Sandler LLP as lawyers and Mesirow Financial Inc. as financial
advisers.


NEBRASKA BOOK: Creditors Object to Rothschild, DIP Loans
--------------------------------------------------------
BankruptcyData.com reports that the Official Committee of
Unsecured Creditors of Nebraska Book Company is objecting to the
Debtors' request to hire Rothschild as investment banker and
financial advisor.  The Committee objects to Rothschild's proposed
fees.

The Committee, according to the report, also filed a separate
objection to the Debtors' motion to obtain $200 million in
postpetition financing.  The Committee states that the DIP
facility, which consists of a $75 million revolving loan and a
$125 million term loan from JP Morgan Chase Bank, contains certain
extraordinary provisions that are unreasonable and inappropriate.

                     About Nebraska Book Company

Lincoln, Nebraska-based Nebraska Book Company, Inc., is one of the
leading providers of new and used textbooks for college students
in the United States.  Nebraska Book and seven affiliates filed
separate Chapter 11 petitions (Bankr. D. Del. Case Nos. 11-12002
to 11-12009) on June 27, 2011.  Hon. Peter J. Walsh presides over
the case.  lawyers at Kirkland & Ellis LLP and Pachulski Stang
Ziehl & Jones LLP, serve as the Debtors' bankruptcy counsel.  The
Debtors; restructuring advisors are AlixPartners LLC; the
investment bankers are Rothschild, Inc.; the auditors are Deloitte
& Touche LLP; and the claims agent is Kurtzman Carson Consultants
LLC.  As of the Petition Date, the Debtors had consolidated assets
of $657,215,757 and debts of $563,973,688.

JPMorgan Chase Bank N.A., as administrative agent for the DIP
lenders, is represented by lawyers at Richards, Layton & Finger,
P.A., and Simpson Thacher & Bartlett LLP.  J.P. Morgan Investment
Management Inc., the DIP arranger, is represented by lawyers at
Bayard, P.A., and Willkie Farr & Gallagher LLP.

An ad hoc committee of holders of more than 50% of the Debtors'
Second Lien Notes is represented by lawyers at Brown Rudnick.  An
ad hoc committee of holders of the Debtors' 8.625% unsecured
notes are represented by Milbank, Tweed, Hadley & McCloy LLP.

The Official Committee of Unsecured Creditors selected Lowenstein
Sandler LLP as lawyers and Mesirow Financial Inc. as financial
advisers.

Nebraska Book has prepared a pre-packaged Chapter 11 plan that
would swap some of the existing debt for new debt, cash and the
new stock.


NIGRO HQ LLC: Seeks to Access Cash to Keep Operations Afloat
------------------------------------------------------------
Dow Jones' DBR Small Cap reports that four Las-Vegas area real
estate projects affiliated with Nigro Development LLC are looking
to tap cash to keep their operations afloat during recently
launched bankruptcy proceedings.

Nigro HQ LLC filed a Chapter 11 petition (Bankr. D. Nev. Case No.
11-21014) on July 13, 2011.  Affiliates Beltway One Development
Group LLC, Horizon Village Square LLC, and Ten Saints LLC also
sought bankruptcy protection.  Candace C. Clark, Esq., and Gerald
M. Gordon, Esq., at Gordon Silver, in Las Vegas, serves as counsel
to the Debtor.  Nigro HQ estimated assets and debts of $1 million
to $10 million as of the Chapter 11 filing.  The petitions were
signed by Todd A. Nigro, manager of Nigro Development, LLC.


NORTEL NETWORKS: Pensioners to Face Average 18% Cut in Benefits
---------------------------------------------------------------
Bert Hill at The Ottawa Citizen reports that thousands of Nortel
Networks pensioners in the Ottawa region are facing cuts to
benefits averaging 18% in the first big step to wind up the
insolvent company's underfunded pension plan.

The tough action, the report says, starts with the monthly cheques
issued Aug. 25.  The Ottawa Citizen notes that it is not related
to the recent $4.5-billion auction sale of 6,000 Nortel patents,
although that cash should eventually restore some of the pension
losses.

According to The Ottawa Citizen, the Nortel Retirees Protect
Canada organization protested Wednesday that provincial regulators
and the pension plan administrator rejected its appeal to not act
quickly or pursue conservative actuarial rules with the state of
Nortel assets still in flux.  The 18,500 pensioners, who now
receive an average $22,537 annually, will get individual letters
shortly detailing their specific positions under a complex wind-up
formula, the report says.

NRPC said the pension cuts will be "very painful for many and
severe for some" who live in provinces which, unlike Ontario, have
no pension insurance plans.  Pensioners in those provinces face
cuts averaging 31%, The Ottawa Citizen discloses.

The Ottawa Citizen relates that Morneau Shepell, the actuarial
company running the plan, told pensioners the cuts are necessary
"in light of the plan's underfunding."  Mr. Shepell said that
while the pension plan will likely receive benefits from the
division of Nortel assets, "the timing and amount that we will
receive are still uncertain."

                     About Nortel Networks

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

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

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

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

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

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

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


NORTEL NETWORKS: Canadian Government Won't Review Patent Sale
-------------------------------------------------------------
Paul Vieira, writing for Dow Jones Newswires, reports that the
Canadian government on Tuesday held that its rules governing
foreign investment don't apply in the US$4.5 billion sale of
patents belonging to Nortel Networks Corp.

According to Dow Jones, Industry Minister Christian Paradis said
the acquisition of 6,000 patents by a consortium led by Apple Inc.
and Sweden's Telefon AB L.M. Ericsson didn't trigger a government
review because the book value of the assets was less than the
C$312 million (US$325 million) threshold established under
Canadian law.

According to Dow Jones, had there been a review, Canadian law
compels government officials to determine the deal provides a so-
called net benefit to the country's economy.  No acquisition or
investment can be implemented without the industry minister's
approval.

People familiar with the transaction had previously told Dow Jones
Newswires the Investment Canada Act didn't apply because the
patent assets were valued at zero on Nortel's books.  The Act also
calls for a review of assets that generate annual revenue of more
than C$73 million, but Nortel's global patent portfolio never made
more than C$10 million annually, the people said.

Dow Jones relates Canada's own Research in Motion Ltd. contributed
US$770 million of the final US$4.5 billion winning bid. Other
members of the consortium are Sony Corp. and EMC Corp.

                     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.


NURSERYMEN'S EXCHANGE: Court OKs Sale of Assets to Floramoda
------------------------------------------------------------
The U.S. Bankruptcy Court approved Floramoda Inc.'s purchase of
certain assets of Nurserymen's Exchange.

The Floramoda purchase provides financial stability and security
for Nurserymen's Exchange and its employees, enabling Nurserymen's
Exchange to move forward with certainty in the future of the
company.

Nurserymen's Exchange and Floramoda are an ideal pairing, with
great synergy existing among their products, customer base, and
business values.  The new relationship is seen by both sides to be
an exciting beginning to a mutually beneficial arrangement.

"Nurserymen's Exchange has a long legacy in the industry and in
its community.  The new Floramoda/Nurserymen's Exchange
relationship will enable that legacy to continue and thrive as we
build on each other's strengths," said Charles Kosmont, CEO of
Monterey Peninsula Horticulture.

Nurserymen's Exchange, headquartered in Half Moon Bay, California,
began in 1941 and is one of the country's largest wholesalers of
indoor blooming plants, specialty foliage and packaged plants.  In
addition to their 5.5 million square feet of greenhouse growing
space, the purchase will make Monterey Peninsula Horticulture the
third largest greenhouse grower in the country.

                     About Monterey Peninsula

Monterey Peninsula Horticulture, Inc., based in Salinas,
California, was founded in 1981 and currently has three
subsidiaries: Rocket Farms, an industry leader recognized for
innovative methods and quality potted ornamentals-particularly
orchids and poinsettias; Growers Transplanting, a technology
leader widening the applications and capabilities of automated
transplanting; and Floramoda, the buyer of Nurserymen's Exchange.

                    About Nurserymen's Exchange

Founded in 1941 as a San Francisco bulb brokerage business, and
currently based in Half Moon Bay in the San Francisco Bay Area,
Nurserymen's Exchange Inc. is a producer, broker and wholesaler of
home decor products incorporating indoor blooming plants,
specialty foliage, holiday grow kits, and potted edibles.

Nurserymen's Exchange filed a Chapter 11 petition (Bankr. N.D.
Calif. Case No. 11-31985) in San Francisco, California, on May 23,
2011.  Stephen D. Finestone, Esq., in San Francisco, serves as
counsel to the Debtor.  Omni Management Group, LLC, is the claims
and notice agent.  C&A, Inc., serves as financial advisor.  The
Debtor disclosed $34,755,036 in assets and $24,772,945 in
liabilities in its schedules.

An official committee of unsecured creditors has been appointed in
the case.  The panel has tapped lawyers at Landau Gottfried &
Berger LLP as counsel.

Katten Muchin & Rosenmann, LLP, as its special counsel. Chelliah &
Associates as its restructuring and turnaround consultants and
advisors. FocalPoint Securities, LLC, as investment banker and
financial advisor. Calegari & Morri as accountant. The Abernathy
MacGregor Group, Inc., as its corporate
communications consultant.


OLSEN AGRICULTURAL: Gets Court Okay to Tap Weatherford Thompson
---------------------------------------------------------------
Olsen Agricultural Enterprises LLC obtained approval from the U.S.
Bankruptcy Court for the District of Oregon to employ Weatherford
Thompson Cowgill Black & Schultz P.C. as its special counsel,
effective as of June 17, 2011.

As reported in the June 30 2011 issue of the Troubled Company
Reporter, Weatherford Thompson will advise and assist the Debtor
in connection with:

   (i) completing the partition of property in Brownsville, Linn
       County, Oregon,

  (ii) obtaining Measure 49 partition approvals for property in
       Linn County, and

(iii) other land use and real estate matters.

             About Olsen Agricultural Enterprises

Based in Monmouth, Oregon, Olsen Agricultural Enterprises LLC
operates an agricultural enterprise on roughly 7,762 acres of
owned and leased land located in Benton, Linn and Polk Counties.
Its business is comprised principally of three divisions: (a)
Olsen Seed Company, which produces and sells a variety of
grass seed and grains on 5,934 acres; (b) Olsen Agriculture, which
grows and sells peppermint, nursery stock, squash, hazelnuts and
blueberries on 1,334 acres; and (c) Olsen Family Vineyards, which
grows a variety of grapes on 494 acres and produces and sells
quality wines under the "Viridian" label as well as private
labels.

Olsen Agricultural Enterprises is the surviving entity of a merger
transaction that was consummated on June 1, 2011.  In the merger
transaction, Olsen Agricultural Company, Inc., an Oregon
corporation, Jenks-Olsen Land Co., an Oregon general partnership,
Olsen Vineyard Company, LLC, an Oregon limited liability company
and The Olsen Farms Family Limited Partnership were merged with
and into Olsen Agricultural Enterprises.

Olsen Agricultural Enterprises filed for Chapter 11 bankrutpcy
(Bankr. D. Ore. Case No. 11-62723) on June 1, 2011.  Judge Frank
R. Alley III presides over the case.  David A. Foraker, Esq., at
Greene & Markley, P.C., in Portland, Oregon, acts as the Debtor's
bankruptcy counsel.  Clyde A. Hamstreet & Associates, LLC, serves
as the Debtor's restructuring consultant and financial advisor.
Weatherford Thompson Cowgill Black & Schultz P.C. serves as its
special counsel.

Mary Jo Heston, Esq., at Lane Powell PC, in Seattle, Washington,
represents the Official Committee of Unsecured Creditors.

In its petition, the Debtor estimated $10 million to $50 million
in assets and debts.  The petition was signed by Robin G. Olsen,
operations director.

For the fiscal year ended Dec. 31, 2010, OAC reported total
revenues of $6,428,880 and a net loss of $5,791,310.  At the time
of the merger, on a consolidated basis, the books and records of
OAC, JOLC and OVC reflected assets totaling $29.8 million and
liabilities totaling $37.2 million.  The fair market value of the
Debtor's assets, on a going concern basis, is roughly $50 million.


OLSEN AGRICULTURAL: Seeks to Employ Agri-Business as Broker
-----------------------------------------------------------
Olsen Agricultural Enterprises LLC seeks court authority to employ
Agri-Business Real Estate Services as its licensed real estate
broker under an exclusive listing agreement to sell the real
property and improvements located in Brownsville, Linn County,
Oregon, consisting of approximately 372.4 acres and commonly known
as the Koos Brownsville Farm.

The Debtor believes that the terms of employment and compensation
under the Listing Agreement are customary in the Willamette Valley
marketplace for this type of property.

The Debtor proposes to engage Terry Silbernagel of Agri-Business
to assist it in selling the Koos Brownsville Farm.

The Debtor has selected Mr. Silbernagel of Agri-Business because
he has substantial experience in the marketing and sale of
agricultural properties in the Willamette Valley, explains Sanford
R. Landress, Esq., at Greene & Markley, P.C., in Portland, Oregon.

Agri-Business will be paid a commission equal to the lesser of (a)
five percent of the purchase price, and (b) the amount that
is the difference between (i) the proceeds from the sale of the
property (net of amounts paid on account of escrow fees and other
closing costs payable by the Debtor in connection therewith),
and (ii) $1,500,000, payable in cash at the closing of the
contemplated sale transaction.

The Debtor assures the Court that Agri-Business is a
"disinterested person" within the meaning of section 101(14) of
the Bankruptcy Code and does not represent or hold any interest
adverse to the interests of the estate or of any class of
creditors or equity security holders.

             About Olsen Agricultural Enterprises

Based in Monmouth, Oregon, Olsen Agricultural Enterprises LLC
operates an agricultural enterprise on roughly 7,762 acres of
owned and leased land located in Benton, Linn and Polk Counties.
Its business is comprised principally of three divisions: (a)
Olsen Seed Company, which produces and sells a variety of
grass seed and grains on 5,934 acres; (b) Olsen Agriculture, which
grows and sells peppermint, nursery stock, squash, hazelnuts and
blueberries on 1,334 acres; and (c) Olsen Family Vineyards, which
grows a variety of grapes on 494 acres and produces and sells
quality wines under the "Viridian" label as well as private
labels.

Olsen Agricultural Enterprises is the surviving entity of a merger
transaction that was consummated on June 1, 2011.  In the merger
transaction, Olsen Agricultural Company, Inc., an Oregon
corporation, Jenks-Olsen Land Co., an Oregon general partnership,
Olsen Vineyard Company, LLC, an Oregon limited liability company
and The Olsen Farms Family Limited Partnership were merged with
and into Olsen Agricultural Enterprises.

Olsen Agricultural Enterprises filed for Chapter 11 bankrutpcy
(Bankr. D. Ore. Case No. 11-62723) on June 1, 2011.  Judge Frank
R. Alley III presides over the case.  David A. Foraker, Esq., at
Greene & Markley, P.C., in Portland, Oregon, acts as the Debtor's
bankruptcy counsel.  Clyde A. Hamstreet & Associates, LLC, serves
as the Debtor's restructuring consultant and financial advisor.
Weatherford Thompson Cowgill Black & Schultz P.C. serves as its
special counsel.  Moss Adams LLP is the Debtor's tax accountants.

Mary Jo Heston, Esq., at Lane Powell PC, in Seattle, Washington,
represents the Official Committee of Unsecured Creditors.

In its petition, the Debtor estimated $10 million to $50 million
in assets and debts.  The petition was signed by Robin G. Olsen,
operations director.

For the fiscal year ended Dec. 31, 2010, OAC reported total
revenues of $6,428,880 and a net loss of $5,791,310.  At the time
of the merger, on a consolidated basis, the books and records of
OAC, JOLC and OVC reflected assets totaling $29.8 million and
liabilities totaling $37.2 million.  The fair market value of the
Debtor's assets, on a going concern basis, is roughly $50 million.


OM GROUP: S&P Affirms Corporate Credit Rating at 'BB-'
------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB-' corporate
credit rating on Cleveland-based OM Group Inc. The outlook is
stable.

At the same time, Standard & Poor's assigned 'BB-' issue-level
ratings (the same as the corporate credit rating) and '3' recovery
ratings to OM Group's proposed $900 million senior secured credit
facilities. The '3' recovery ratings indicate the expectation of
meaningful recovery (50% to 70%) in the event of a payment
default.

OM Group plans to use funds from the proposed facilities, along
with $50 million in equity and cash on the balance sheet, to
finance its purchase of Germany-based Vacuumschmelze GmbH & Co. KG
(VAC). This includes refinancing existing OM Group and VAC debt.
The proposed facilities comprise a $200 million multi-currency
revolving credit facility due 2016, $100 million term loan A due
2016, and $600 million term loan B due 2017. The acquisition
should close later this year, subject to customary closing
conditions and regulatory approvals.

"We view OM Group's agreement to purchase VAC as a significant
step in its continuing transformation away from unpredictable,
cobalt-driven earnings and into downstream value-added
applications," said Standard & Poor's credit analyst Ket Gondha.

OM Group is a global provider of advanced materials, specialty
chemicals, and battery technologies. OM Group's advanced materials
segment, which accounted for half of the company's revenues in the
past year, is the world's largest primary cobalt producer. The
segment's main focus is on applying proprietary technology to
unrefined cobalt materials to produce and sell products.

VAC is a global manufacturer of high-end magnetic materials for
industrial uses, and the company operates in a fragmented market
that could provide OM Group the opportunity for additional
acquisitions. "Although exposure to the DRC (Democratic Republic
of the Congo) and an acquisitive growth strategy entail risks, we
believe management will maintain financial policies -- including
liquidity and debt levels--that are consistent with the
rating," Mr. Gondha said.

The ratings on OM Group Inc. incorporate the company's earnings
volatility and working capital swings from cobalt and other metal
prices, declining albeit still meaningful exposure to the DRC, and
risks associated with an acquisitive growth strategy. OM Group's
established market positions, good end-market and geographic
diversity, extended debt maturity profile, and adequate liquidity
temper these negative factors. Standard & Poor's characterizes the
business risk profile as weak and the financial risk profile as
significant.


OPTI CANADA: CNOOC to Buy Operations for $2.1 Billion
-----------------------------------------------------
Edward Welsch, Paul Vieira and Yvonne Lee, writing for Dow Jones
Newswires, report that Cnooc Ltd., China's biggest offshore-oil
producer, has agreed to buy bankrupt Canadian oil-sands developer
OPTI Canada Inc. for about $2.1 billion.  Analysts said the deal
will raise Cnooc's total proved reserves by 5.3% to 3.15 billion
barrels of oil equivalent.  The deal will be subject to a review
by the Canadian government.

According to the report, Cnooc said in a statement it will make
the purchase through its wholly owned unit Cnooc Luxembourg SA.
Cnooc said it has agreed to buy OPTI's outstanding shares for
$34 million and to acquire its debt of a little over $2 billion.

                         About OPTI

OPTI Canada Inc. is a Calgary, Alberta-based company focused on
developing major oil sands projects in Canada.  Its first project,
the Long Lake Project, has a design capacity for 72,000 barrels
per day (bbl/d), on a 100 percent basis, of SAGD (steam assisted
gravity drainage) oil production integrated with an upgrading
facility.  The Upgrader uses the Company's proprietary OrCrude(TM)
process, combined with commercially available hydrocracking and
gasification.  OPTI's common shares trade on the Toronto Stock
Exchange under the symbol OPC.

OPTI on July 13, 2011, reached agreement with a committee of
Secured Notes holders to restructure the Company's balance sheet
under the Companies' Creditors Arrangement Act.  At June 30, 2011,
OPTI had roughly C$189 million in cash and cash equivalents.  In
addition, it holds restricted cash of US$73 million in an interest
reserve account associated with its US$300 million First Lien
Notes.


PACIFIC DEVELOPMENT: Plan Provides Development of Heritage Village
------------------------------------------------------------------
Pacific Development, L.C., delivered to the U.S. Bankruptcy Court
for the District of Utah a plan of reorganization and disclosure
statement dated July 1, 2011.

Generally, the Plan provides for the continuation of the Debtor's
development and construction of Heritage Village, the Debtor's
residential development in Payson, Utah.  During its bankruptcy
case, the Debtor has entered into a stipulation with Central Bank,
which provides for postpetition funding to construct four homes at
a time for pre-sold contracts to qualified buyers.  Creditors and
Interest holders would then be paid from the excess profits of the
Debtor's business activities.

The Plan classifies and describes treatment to claims and
interests asserted against or in the Debtors:

Classification                    Proposed Treatment
--------------                    ------------------
Administrative Claims             To be paid in full.

DIP Claims                        To be paid in full.

Class 1 Employee Claims           To be paid in cash in the
                                   allowed amount.

Class 2 Priority Tax Claims       To be paid either in cash or in
                                   installments in the allowed
                                   amount for a period of no
                                   longer than five years.

Class 3 Other Priority Claims     To be paid in cash in the
                                   allowed amount.

Class 4 Utah County               To be paid as real property is
                                   sold by the Debtor in the
                                   amount of the Claim that is
                                   associated with the real
                                   property.

Class 5 Secured Claim of          To be treated in accordance
         Central Bank              with the Court-approved
                                   stipulation between the Debtor
                                   and Central Bank.

Class 6 Secured Claim of          To be treated in accordance
         Deseret Certified         with the modification agreement
         Development Company/      entered into by the Debtor and
         Small Business            Small Business Administration,
         Administration            as approved by the bankruptcy
                                   court on Jan. 26, 2011.

Class 7 Secured Claim of          The Lien securing the Claim
         Robinson, Seiler &        remain in place against
         Anderson, LC              Heritage Village, but will
                                   be removed from the Ottavio
                                   Building and the Model Home.
                                   No payment will be made on this
                                   Claim from the sale of the
                                   first 30 lots in Heritage
                                   Village.  The Claim will then
                                   be allocated in equal portions
                                   among the remaining 68 lots in
                                   Heritage Village, and that
                                   portion will be paid at the
                                   closing of the sale of such
                                   lots.

Class 8 Secured Claim of          The liens securing these claims
         Valid Mechanics Lien      will be applied to all lots in
                                   Heritage Village. No payment
                                   will be made on these Claims
                                   from the sale of the first 30
                                   lots in Heritage Village. The
                                   Claim will then be allocated in
                                   equal portions among the
                                   remaining 68 lots in Heritage
                                   Village.

Class 9 Unsecured Claims of       The liens of holders of Claims
         Invalid Liens:            of this Class will be void and
         (1) Tommie W. Sisk,       the Claims will be treated as
         (2) Contractors Heating   unsecured claims in Class 10.
         and Cooling Supply, and
         (3) Oldcastle Precast,
         Inc dba WR White Supply

Class 10 Unsecured Claims         Each holder of a Class 10 Claim
                                   will be paid pro rata and to
                                   the extent possible, from the
                                   Plan Fund.

Class 11 Interests                Interest holders will retain
                                   their interests in the Debtor,
                                   but will not be entitled to
                                   receive distributions pending
                                   payment of all Class 10 Claims.

Post-confirmation, the Reorganized Debtor will continue its
business as conducted by the Debtor pre-Effective Date.  In
particular, the Reorganized Debtor will continue to market and
sell lots and homes in Heritage Village, lease the Ottavio
Building, and pursue distributions from the Golfcrest.

A full-text copy of the Plan and Disclosure Statement is available
for free at http://bankrupt.com/misc/PACIFICDEVT_PlanandDS.pdf

                      About Pacific Development

Provo, Utah-based Pacific Development, L.C., is the obligor on and
owner of various real estate development loans for properties
primarily located in Payson, Salem, Springville and Harrisburg,
Utah.  The Company filed for Chapter 11 protection (Bankr. D. Utah
Case No. 10-22754) on March 10, 2010.  Blake D. Miller, Esq., and
James W. Anderson, Esq., at Miller Guymon, PC, in Salt Lake City,
represent the Debtor in its restructuring effort.  The Debtor
estimated its assets at $10 million to $50 million and debts at
$1 million to $10 million.

David P. Billings, Esq., and J. Thomas Beckett, Esq., at Parsons,
Behle & Latimer, P.C., in Salt Lake City, represent the Official
Committee of Unsecured Creditors.


PALM HARBOR: Exclusive Period to File Plan Extended to July 28
--------------------------------------------------------------
The Hon. Christopher S. Sontchi has extended the time within which
Palm Harbor Homes, Inc., has the exclusive right to file a Chapter
11 plan through and until July 28, 2011.  The period within which
the Debtor has the exclusive right to solicit acceptances of a
Chapter 11 plan is also extended until Sept. 27, 2011.

                      About Palm Harbor Homes

Addison, Texas-based Palm Harbor Homes, Inc. --
http://www.palmharbor.com/-- manufactured and marketed factory-
built homes.  The Company marketed nationwide through vertically
integrated operations, encompassing manufactured and modular
housing, financing and insurance.

Palm Harbor, along with affiliates, filed for Chapter 11
bankruptcy protection (Bankr. D. Del. Lead Case No. 10-13850) on
Nov. 29, 2010.  It disclosed $321,263,000 in total assets and
$280,343,000 in total debts.

Brian Cejka at Alvarez & Marsal is the Debtors' chief
restructuring officer.  Raymond James and Associates, Inc., is the
Debtors' investment banker.  Alvarez & Marshal North America, LLC,
is the Debtors' financial advisor.  BMC Group, Inc., is the
Debtors' claims agent.  Pachulski Stang Ziehl & Jones LLP serves
as counsel to the Official Committee of Unsecured Creditors.

Following a court-approved sale process, Palm Harbor in March 2011
sold its business for $85.25 million to Fleetwood Enterprises
Inc., a venture between Cavco Industries Inc. and a fund advised
by Third Avenue Management LLC.  Fleetwood is providing up to
$55 million in secured financing for Palm Harbor's reorganization.

As reported in the TCR on May 16, 2011, Cavco Industries and
Fleetwood Homes filed with the U.S. Bankruptcy Court for the
District of Delaware a motion for an order enforcing and ordering
Palm Harbor Homes to perform its obligations under the Court-
approved amended and restated asset purchase agreement and to pay
administrative expenses.

According to Cavco and Fleetwood, the Debtors ceased paying former
employees' sales commissions and profit-sharing bonuses prior to
the closing date when the individuals were still employees of the
Debtors.


PARMATOWN MALL: Midland Seeks Receiver for Mall
-----------------------------------------------
Bob Sandrick at Sun News reports that the future of Parmatown Mall
is uncertain after the mall's mortgage lender has filed for the
appointment of a receiver in Cuyahoga County Common Pleas Court in
Ohio.  That means the lender, Midland Loan Services, a division of
PNC Bank, will take control of the Parmatown property.  Midland,
owed $63 million on a mortgage, will list the property for sale
and recruit a firm to redevelop the site, according to Robert
Gebhart, executive vice president of RMS Management, which manages
the Parmatown property.  Parmatown owners, who are executives with
Forest City Enterprises Inc. in Cleveland, are making the move due
to ongoing vacancies at Parmatown.  However, Mr. Gebhart said he
does not expect Parmatown to disappear as a mall, the report adds.


PERKINS & MARIE: To Close 58 Stores As Part of Restructuring
------------------------------------------------------------
The Commercial Appeal reports that Perkins & Marie Callender's
Inc. will close 58 stores as a part of a corporate restructuring
plan that must be completed by October.

According to the report, the closings will "rationalize the
company's store footprint and result in a restructured balance
sheet that will position the company for long-term financial
success."

The report notes it was not immediately clear which stores will be
closed.

The Company, the report relates, will use cash on hand and $21
million in debtor-in-possession financing from Wells Fargo Capital
Finance "to maintain business-as-usual during the restructuring
process."   Vendors and suppliers should see no change in business
operations.

Howard Pankratz at the Denver Post reports that Perkins & Marie
Callender's has already closed four Perkins restaurants in
Colorado and 27 Perkins restaurants nationally.

                  About Perkins & Marie Callender's

Based in Memphis, Tennessee, Perkins & Marie Callender's Inc., fka
The Restaurant Company, is the owner or franchiser of nearly 600
family-dining restaurants, the Perkins Restaurants and Marie
Callender's.  Perkins & Marie and several affiliates filed for
Chapter 11 bankruptcy (Bankr. D. Del. Lead Case No. 11-11795) on
June 13, 2011.  Perkins & Marie disclosed $290 million in assets
and $441 million in debt as of the Chapter 11 filing.

Judge Kevin Gross presides over the case.  Robert S. Brady, Esq.,
and Robert F. Poppiti, Jr., Esq., at Young, Conaway, Stargatt &
Taylor, LLP; and Mitchel H. Perkiel, Esq., Hollace T. Cohen, Esq.,
and Brett D. Goodman, Esq., at Troutman Sanders, LLP, serve as
bankruptcy counsel.  The Debtors' financial advisors are Whitby,
Santarlasci & Company.  Their claims agent is Omni Management
Group, LLC.

DIP lender Wells Fargo is represented by lawyers at Paul,
Hastings, Janofsky & Walker LLP.

Roberta A. Deangelis, U.S.s Trustee for Region 3, appointed seven
unsecured creditors to serve on the Official Committee of
Unsecured Creditors in the Debtors' cases.


PERKINS & MARIE: Committee Taps FTI Consulting as Fin'l Advisor
---------------------------------------------------------------
BankruptcyData.com reports that Perkins & Marie Callender's
official committee of unsecured creditors filed with the U.S.
Bankruptcy Court a request to retain FTI Consulting (Contact:
Steven Simms) as restructuring and financial advisor for a fixed
monthly fee of $125,000 for the first two months and $100,000 per
month thereafter.

                 About Perkins & Marie Callender's

Based in Memphis, Tennessee, Perkins & Marie Callender's Inc., fka
The Restaurant Company, is the owner or franchiser of nearly 600
family-dining restaurants, the Perkins Restaurants and Marie
Callender's.  Perkins & Marie and several affiliates filed for
Chapter 11 bankruptcy (Bankr. D. Del. Lead Case No. 11-11795) on
June 13, 2011.  Perkins & Marie disclosed $290 million in assets
and $441 million in debt as of the Chapter 11 filing.

Judge Kevin Gross presides over the case.  Robert S. Brady, Esq.,
and Robert F. Poppiti, Jr., Esq., at Young, Conaway, Stargatt &
Taylor, LLP; and Mitchel H. Perkiel, Esq., Hollace T. Cohen, Esq.,
and Brett D. Goodman, Esq., at Troutman Sanders, LLP, serve as
bankruptcy counsel.  The Debtors' financial advisors are Whitby,
Santarlasci & Company.  Their claims agent is Omni Management
Group, LLC.

DIP lender Wells Fargo is represented by lawyers at Paul,
Hastings, Janofsky & Walker LLP.

Roberta A. Deangelis, U.S.s Trustee for Region 3, appointed seven
unsecured creditors to serve on the Official Committee of
Unsecured Creditors in the Debtors' cases.


PETRA FUND: Plan Outline Hearing Adjourned Until August 31
----------------------------------------------------------
The Hon. Shelley C. Chapman of the U.S. Bankruptcy Court for the
Southern District of New York has adjourned until Aug. 31, 2011,
at 10:00 a.m., the hearing to consider adequacy of the disclosure
statement explaining Petra Fund REIT Corp., and Petra Offshore
Fund LP's proposed chapter 11 plan.

At the hearing, the Court will also consider the Debtors' motion
to extend their period to solicit acceptances for the proposed
chapter 11 plan.

As reported in the Troubled Company Reporter on June 8, 2011,
pursuant to the Plan, holders of administrative claims totaling
$1,000,000 and priority tax claims totaling $750,000 will be paid
in full.  RBS and JPMorgan will receive no cash, and instead, will
receive a new secured debt instrument in exchange of their secured
claims.

Holders of general unsecured claims totaling $1,5000,000 will (i)
receive from the liquidation trust a pro rata share of the
distributable assets in a pro rata amount equal 100% of the
holders' allowed general unsecured claims, or (ii) absent a
liquidation trust, a pro rata share of the remaining assets after
payment of higher ranked claims.  Holders of interests in REIT and
Offshore won't receive anything.

The Debtors said they have had extensive discussions with James A.
Goodman, former bankruptcy judge for the District of Maine, for
the position of liquidation trustee.

The Debtors said that post-confirmation, they will be selling
these assets for an aggregate $100,000: equity interests in Petra
Fund Master REIT Corp and Petra Fund Holdings LLC, loan
participations in Detwiler and Fort Tryon, and equity interests in
PFRC Sub, LLC, and Petra Offshore TRS L.P.

A full-text copy of the Disclosure Statement is available for free
at http://bankrupt.com/misc/PetraFund_DS.pdf

                         About Petra Fund

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

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

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


PRE-PAID LEGAL: S&P Assigns 'B' Corp. Credit Rating After LBO
-------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' corporate
credit rating to Ada, Okla.-based Pre-Paid Legal Services Inc.
(PPD), following the completion of the LBO transaction by MidOcean
Partners. The outlook is stable.

"At the same time, we assigned our 'BB-' issue rating to the
company's five-year $30 million revolving credit facility. The
recovery rating is '1', indicating our expectation of very high
(90% to 100%) recovery for revolving credit facility lenders in
the event of a payment default," S&P related.

"We also assigned our 'BB-' issue rating to the company's 5.5-year
$246 million first-lien first-out term loan. The recovery rating
is '1', indicating our expectation of very high (90% to 100%)
recovery for first-out term loan lenders in the event of a payment
default," S&P said.

"We also assigned our 'B' issue rating to the company's 5.5-year
$150 million last-out term loan. The recovery rating is '3',
indicating our expectation of meaningful (50% to 70%) recovery for
last-out term loan lenders in the event of a payment default," S&P
related.

"We estimate PPD has about $396 million in reported debt
outstanding following the transaction," S&P said.

"The speculative-grade ratings reflect our analysis that PPD has a
narrow product focus and participates in a small niche segment of
the legal service plan industry, as well as our belief that the
gradual decline in the membership base since 2006 will be
difficult to reverse over the next one to two years," said
Standard & Poor's credit analyst Brian Milligan.

"Our rating outlook on PPD is stable, reflecting our assessment
that membership growth and retention is unlikely to improve, which
will result in credit measures remaining weak and in line with 'B'
rating category medians. At the same time, we expect liquidity to
remain adequate and covenant cushion to remain sufficient at above
20%," S&P said.


PRM SMITH: To Present Plan for Confirmation on July 27
------------------------------------------------------
On June 28, 2011, the U.S. Bankruptcy Court for the Northern
District of Texas entered its order approving PRM Smith Bay, LLC's
First Amended Disclosure Statement with respect to its First
Amended Plan of Reorganization.

The Court fixed a July 20, 2011 deadline for the submission of
ballots to vote to accept the Plan, as well as the deadline for
the filing of objections to the confirmation of the Plan.  The
hearing to confirm the Plan will be held on July 27, 2011, at 2:00
p.m.

A copy of the First Amended Disclosure Statement is available at:

       http://bankrupt.com/misc/prmsmith.firstamendedDS.pdf

FirstBank Puerto Rico, the Debtor's only secured creditor had
objected to the disclosure statement with respect to the Debtor's
Plan before it was amended, citing that (A) the disclosure
statement does not contain adequate information, and (B) the
disclosure statement should not be approved since the Plan is not
confirmable as a matter of law.

FirstBank says the Court should deny approval of the disclosure
statement because the Plan merely seeks to delay its rights to
foreclose for an additional 5 years with no viable prospect for
consummating a sale; meanwhile, the debt owed to it continues to
grow without adequate protection provided to it for the Debtor's
continued use of the Property.

Under the Plan, the Reorganized Debtor will develop or sell the
Cabes Point property over a period of up to five years following
the Effective Date.

Administrative claims will be paid in full on the Plan's effective
date.

Priority tax claims will be paid over a period not exceeding six
years after the date of assessment of the claims, commencing after
the first full quarter following the Effective Date.

The claim of FirstBank will be treated as a fully secured claim in
an amount to be determined by the Bankruptcy Court at the
confirmation hearing, or as otherwise agreed to prior to such
hearing by the Debtor and FirstBank.  The existing loan documents
between the Debtor and FirstBank will be assumed fully by the
Reorganized Debtor with the following exceptions: (a) the maturity
date of the loan will be five years from the Effective Date; (b)
interest will accrue at the rate of 6% per annum.

Creditors holding allowed general unsecured Claims will receive
100% of their Allowed Claims from proceeds of the development or
sale of the Property.

Holders of equity interests will retain its interest in Debtor, in
exchange for its providing for funding of the Plan and its
commitment to use its skill, effort, and experience to develop the
Property for the benefit of the Creditors.

A copy of the Disclosure Statement is available for free at:

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

Chicago, Illinois-based PRM Smith Bay, LLC, aka PRM Smith Bay,
LLP, was formed in May 2004 for the purpose of holding an
undeveloped 7.5 acre parcel of land on St. Thomas in the United
States Virgin Islands known as Cabes Point.  PRM Realty Group,
LLC, is the 100% ownere and manager of the Debtor.  The
Debtorfiled for Chapter 11 bankruptcy protection (Bankr. N.D. Tex.
Case No. 11-30444) on Jan. 20, 2011.  Gerrit M. Pronske, Esq.,
Rakhee V. Patel, Esq., Melanie P. Goolsby, Esq., and Yewande A.
Akinwolemiwa, Esq., at Pronske & Patel, P.C., in Dallas, serve as
the Debtor's bankruptcy counsel.  In its schedules, the Debtor
disclosed $13,031,162 in assets and $6,781,074 in liabilities as
of the petition date.

Affiliates Bon Secour Partners, LLC (Bankr. N.D. Tex. Case No.
09-37580), PRS II, LLC (Bankr. N.D. Tex. Case No. 09-31436), PRM
Realty Group, LLC (Bankr. N.D. Tex. Case No. 10-30241), PMP II,
LLC (Bankr. N.D. Tex. Case No. 10-30252), Maluhia Development
Group, LLC (Bankr. N.D. Tex. Case No. 10-30475), Maluhia One, LLC
(Bankr. N.D. Tex. Case No. 10-30987), Maluhia Eight, LLC (Bankr.
N.D. Tex. Case No. 10-30986), Maluhia Nine, LLC (Bankr. N.D. Tex.
Case No. 10-30988), Long Bay Partners, LLC (Bankr. N.D. Tex. Case
No. 10-35124), PRM Development, LLC (Bankr. N.D. Tex. Case No. 10-
35547), Little Hans Lollik Holdings, LLP (Bankr. N.D. Tex. Case
No. 10-36159), and Hans Lollick Land Company, Limited (Bankr. N.D.
Tex. Case No. 10-36161) filed separate Chapter 11 petitions.


RAM-KRUPA INC: Case Summary & 21 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Ram-Krupa Inc.
        16 Marsanna Lane
        Jonestown, PA 17038

Bankruptcy Case No.: 11-04993

Chapter 11 Petition Date: July 18, 2011

Court: United States Bankruptcy Court
       Middle District of Pennsylvania (Harrisburg)

Judge: Mary D. France

Debtor's Counsel: Daniel P. Bernstein, Esq.
                  CALZARETTO & BERNSTEIN, LLC
                  459 Route 38 West
                  Maple Shade, NJ 08052

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

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

A list of the Company's 21 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/pamb11-04993.pdf

The petition was signed by Mukesh R. Patel, president.


RANDOLPH TOWERS: Debit Restraint Doesn't Violate Automatic Stay
---------------------------------------------------------------
Bankruptcy Judge S. Martin Teel, Jr., said a bank can refuse to
pay checks drawn on the account for even an arbitrary reason --
for example, because it has taken a disliking to the debtor's
management -- and that would not constitute a violation of the
automatic stay.  In the case of Randolph Towers Cooperative, Inc.,
Wachovia Bank, N.A., on March 31, 2011, placed a debit restraint
on any open deposit account held by the debtor that was opened
pre-bankruptcy until the bank receives a court order which allows
the debtor continued use of the specific deposit account.
Wachovia has refused to lift the "debit restraint."  Wachovia
contends that the debit restraint only prevents prepetition debts
of the debtor from being paid from bank accounts that are property
of the bankruptcy estate.  The debtor characterized the debit
restraint as an act to exercise control over property of the
estate in violation of the automatic stay, and sought sanctions.
Judge Teel said the debtor's motion must be denied.  At most,
Wachovia has failed to perform a contract.  "If a party to a
contract with a debtor refuses to perform the contract because the
debtor is in bankruptcy, that may be a breach of contract but it
is not an exercise of control over property of the estate. The
contract remains intact," according to Judge Teel.

Wells Fargo Bank, N.A., has become the successor by merger to
Wachovia.

A copy of Judge Teel's July 18, 2011 Memorandum Decision is
available at http://is.gd/q7nJfHfrom Leagle.com.

Randolph Towers Cooperative, Inc., filed for Chapter 11 bankruptcy
(Bankr. D. D.C. Case No. 11-00238) on March 29, 2011.  Janet M.
Nesse, Esq., at Stinson, Morrison & Hecker LLP, serves as the
Debtor's bankruptcy counsel.  In its petition, the Debtor
estimated under $50,000 in assets and between $10 million to
$50 million in debts.  The petition was signed by Sandra Land, its
vice president.


RCC NORTH: Confirmation Hearing on U.S. Bank Plan Set for July 27
-----------------------------------------------------------------
Judge Sarah S. Curley of the U.S. Bankruptcy Court for the
District of Arizona will convene a hearing on July 27, 2011, at
10:00 a.m., to consider confirmation of the plan of reorganization
proposed by U.S. Bank, N.A., for RCC North LLC and any related
plan amendments.

The Court entered an order on May 24, 2011, approving the
disclosure statement explaining the Plan as containing adequate
information to support the solicitation of acceptances of the
Plan.

As previously reported by the Troubled Company Reporter, U.S. Bank
proposed a Chapter 11 plan of reorganization for the Debtor on
March 10, 2011, a copy of which is available for free at
http://bankrupt.com/misc/RCCNorth_USBankDS.pdf The Plan proposes,
among other things, to transfer to U.S. Bank title to any personal
property collateral for its loan including cash collateral.  The
bank will be required to pay allowed unsecured claims in full from
its cash collateral after the plan takes effect.

U.S. Bank, as trustee for the Registered Holders of Merrill Lynch
Mortgage Trust 2006-C1, Commercial Mortgage Pass-Through
Certificates, Series 2006-C1, is the Debtor's primary secured
lender.

Creditors eligible to vote may send in their ballots for the Plan
no later than five business days before the Confirmation Hearing
Date.  Ballots will be filed with U.S. Bank's counsel:

             PERKINS COIE LLP
             c/o Richard M. Lorenzen, Esq.
             RLorenzen@perkinscoie.com
             2901 N. Central Avenue, Suite 2000
             Phoenix, AZ 85012

Interested parties may file written objections to the confirmation
of the Plan no later than five business days before the
Confirmation Hearing.

                       About RCC North LLC

Scottsdale, Arizona-based RCC North LLC owns and operates two
Class A office buildings and the related corporate campuses known
as Phase I and Phase II of the Raintree Corporate Center located
north of the northeast corner of Loop 101 (Pima Freeway) and
Raintree Drive, at 15333 North Pima Road and 15111 North Pima
Road, respectively, in Scottsdale, Arizona.

The Company filed for Chapter 11 bankruptcy protection on Apr. 15,
2010 (Bankr. D. Ariz. Case No. 10-11078).  John J. Hebert, Esq.,
Mark W. Roth, Esq., and Philip R. Rudd, Esq. at Polsinelli
Shughart PC represent the Debtor in its restructuring effort.  The
Company estimated its assets and debts at $50 million to
$100 million in its Chapter 11 petition.


RCC NORTH: Gets Court Nod for Cash Collateral Use Thru July 31
--------------------------------------------------------------
Judge Sarah S. Curley approved an interim cash collateral use
stipulation between RCC North, LLC, and secured creditor U.S.
Bank, N.A., as trustee for the registered holders of Merrill Lynch
Mortgage Trust 2006-C1, Commercial Mortgage Pass-Through
Certificates, Series 2006-C1.

The parties agreed to the Debtor's continued use of cash
collateral for the period from May 1, 2011 to July 31, 2011,
pursuant to a prepared budget and subject to the terms of the
Prior Cash Collateral Stipulations and Orders.

A copy of the 90-day Budget ended July 31 is available for free
at: http://bankrupt.com/misc/RCCNorth_CashCollBudgetThruJul31.pdf

                       About RCC North LLC

Scottsdale, Arizona-based RCC North LLC owns and operates two
Class A office buildings and the related corporate campuses known
as Phase I and Phase II of the Raintree Corporate Center located
north of the northeast corner of Loop 101 (Pima Freeway) and
Raintree Drive, at 15333 North Pima Road and 15111 North Pima
Road, respectively, in Scottsdale, Arizona.

The Company filed for Chapter 11 bankruptcy protection on Apr. 15,
2010 (Bankr. D. Ariz. Case No. 10-11078).  John J. Hebert, Esq.,
Mark W. Roth, Esq., and Philip R. Rudd, Esq. at Polsinelli
Shughart PC represent the Debtor in its restructuring effort.  The
Company estimated its assets and debts at $50 million to
$100 million in its Chapter 11 petition.


RCC NORTH: Wants to Use Cash Collateral to Pay CDMdata Dues
-----------------------------------------------------------
RCC North, LLC, seeks authority from the U.S. Bankruptcy Court for
the District of Arizona to use approximately $30,000 of its cash
collateral to pay certain tenant improvement costs and leasing
commissions associated with a new lease it entered into with
CDMdata, Inc.

The CDM Lease is for approximately 9,285 sq. ft. of space in
Building 1 of the Debtor's property.  It is expected to general
over $14,000 per month beginning in September 2011 for a period of
two years.

The Debtor believes the CDM Lease will increase its revenue and
will contribute to the overall value of its property.

As a condition to CDM's tenancy, the Debtor is required to make
certain relatively nominal improvements to the CDM space and pay
leasing commissions to CDM's third party broker.  The Tenant
Improvement Costs is expected to total $12,130, and the broker
commission s 5% of gross rent or $17,409.  However, U.S. Bank, the
Debtor's secured lender, denied consent to the use of cash
collateral for purposes of the CDM dues.

Thus, the Debtor seeks the Court's consent on cash collateral use
in relation to CDM.

                       About RCC North LLC

Scottsdale, Arizona-based RCC North LLC owns and operates two
Class A office buildings and the related corporate campuses known
as Phase I and Phase II of the Raintree Corporate Center located
north of the northeast corner of Loop 101 (Pima Freeway) and
Raintree Drive, at 15333 North Pima Road and 15111 North Pima
Road, respectively, in Scottsdale, Arizona.

The Company filed for Chapter 11 bankruptcy protection on Apr. 15,
2010 (Bankr. D. Ariz. Case No. 10-11078).  John J. Hebert, Esq.,
Mark W. Roth, Esq., and Philip R. Rudd, Esq. at Polsinelli
Shughart PC represent the Debtor in its restructuring effort.  The
Company estimated its assets and debts at $50 million to
$100 million in its Chapter 11 petition.


RCC SOUTH: Confirmation Hearing to Push Through on Aug. 22
----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Arizona sets these
dates regarding the confirmation of RCC South LLC's Chapter 11
Plan of Reorganization pursuant to a request made by the Debtor
and SFI Belmont LLC, a successor-in-interest to iStar FM Loans
LLC, a secured creditor:

   * Fact Discovery: August 12, 2011;
   * Disclosure of Expert Witnesses: On or before June 24, 2011;
   * Expert Reports: On or before July 22;
   * Rebuttal Expert Reports: On or before August 1, 2011;
   * Expert Discovery: August 15, 2011;
   * Direct Testimony by Declaration: On or before August 15,
     2011;

   * Joint Pre-Trial Statement: August 15, 2011;
   * Pre-trial Legal Memoranda: On or before August 15, 2011;
   * Confirmation Trial: August 22, 2011 at 10:00 a.m.

In a separate filing, Belmont revealed that it was planning to
file a competing Chapter 11 plan and disclosure statement and
wants the Debtor's exclusive period to solicit acceptances of the
Plan terminated.

Belmont will file the Competing Chapter 11 Plan if the Exclusive
Solicitation Period is terminated.

The Debtor previously filed a request to further extend the
Exclusive Solicitation Period on April 26, 2011, and Belmont filed
an objection on May 19, 2011.  The hearing date for the Debtor's
request has been set for June 29, 2011.

Belmont has sought termination of the Debtor's Exclusive
Solicitation period since January 2011.  It argued that by the
time the hearing on the Debtor's request to extend exclusivity
occurs on June 29, the Debtor will have had an additional half-
year extension of exclusivity.

Accordingly, Belmont asked the Court for an expedited hearing on
its request to terminate exclusivity.

The Court, however, denied Belmont's request and ruled that
Belmont's ability to file its Competing Chapter 11 Plan will be
addressed at the June 29 hearing if extension of the Exclusivity
Period is denied.

Scottsdale, Arizona-based RCC South, LLC, owns and operates two
Class A" office buildings known as Phase III and Phase IV of the
Raintree Corporate Center in Scottsdale Arizona.  The Company
filed for Chapter 11 bankruptcy protection (Bankr. D. Ariz. Case
No. 10-23475) on July 27, 2010.  John J. Hebert, Esq., at
Polsenelli Shughart, P.C., assists the Debtor in its restructuring
effort.  The Debtor estimated its assets and debts at $50 million
to $100 million as of the Petition Date.


RENAISSANCE SURGICAL: Sept. 1 Status Hearing in Involuntary Case
----------------------------------------------------------------
The Bankruptcy Court has scheduled a Status Conference hearing in
the involuntary Chapter 11 case commenced against Renaissance
Surgical Arts at Newport Harbor on Sept. 1, 2011, at 9:30 a.m. at

The Bankruptcy Court has scheduled a Status Conference hearing in
the involuntary Chapter 11 case commenced against Renaissance
Surgical Arts at Newport Harbor on Sept. 1, 2011, at 9:30 a.m. at
Courtroom 5A, 411 W Fourth St., in Santa Ana, California.

An involuntary Chapter 11 petition was filed against Costa Mesa,
California-based Renaissance Surgical Arts at Newport Harbor
(Bankr. C.D. Calif. Case No. 11-19749) on July 11, 2011.  Judge
Erithe A. Smith presides over the case.

The petitioners are Dr. Gary Reiter, allegedly owed $907,515;
Vascular Resources Inc., allegedly owed $2,462,492; and Anthony C.
Pings, allegedly owed $266,169.  The Petitioners are represented
by Robert P. Goe, Esq., at Goe & Forsythe, LLP.


SABRE HOLDINGS: S&P Affirms 'B' Corporate Credit Rating
-------------------------------------------------------
Standard & Poor's Ratings Services revised its rating outlook on
Southlake, Texas-based Sabre Holdings Corp. to stable from
positive. "At the same time, we affirmed all of our ratings on the
company, including the 'B' corporate credit rating," S&P related.

"The outlook revision is based on our expectation of weaker
performance primarily due to the company's Travelocity unit in
2011," said Standard & Poor's credit analyst Andy Liu. "While we
are still expecting revenue and EBITDA growth in 2011, we have
revised downward our projections, thereby pushing out the
timeframe for a possible ratings upgrade."

The 'B' corporate credit rating incorporates Standard & Poor's
assumption of fairly stable operating performance, despite
difficult ongoing contract discussions with one of Sabre's airline
customers and competitive pressure at Travelocity. "For the
moment, with the overall travel market growing, we expect that
overall market growth will more than offset specific weaknesses
that Sabre is experiencing," S&P said.

Sabre's business includes global distribution systems (GDS) that
travel agents and corporations use, software solutions for travel
providers, and Travelocity, an online travel agency (OTA). Sabre
is a major provider of marketing and distribution services to the
travel industry.

The company owns one of the largest GDSs. A GDS is an intermediary
between travel suppliers (airlines, hotels, car renters, cruises,
etc.) and travel agencies, OTAs, and corporations, which gathers
inventory (seats, rooms, etc.) from those suppliers. This business
generates revenues from booking fees paid by travel suppliers and
fees charged for hardware and software used by
agencies. As the global travel market rebounds from a low point in
2009, the GDS business has been registering very healthy increases
in transaction volume.

The rating outlook is stable. Standard & Poor's expects that
Sabre's credit measures will gradually improve in 2011 and 2012.
However, contract disputes and litigation with its airline
customers are of concern, especially if this leads to a disruption
of the GDS business model. If airlines are not successful in
circumventing GDSs and the company can profitability grow revenue
resulting in adjusted debt leverage below 6x, including possible
refinancing of maturities, with at least a 12% margin of
compliance with financial covenants, we could raise the rating.
"On the other hand, if airlines are able to disintermediate GDSs,
resulting in lower profitability, shrinking discretionary cash
flow, and a possible covenant violation, we could lower the
rating. We believe that covenant violation could happen if
revenues and EBITDA decline 5% and 10%," S&P said.


SAMSHI HOMES: Court Denies Cash Collateral Use
----------------------------------------------
Bankruptcy Judge Letitia Z. Paul denied Samshi Homes, LLC's Third
Emergency Motion for Use of Cash Collateral and for Interim Use of
Cash Collateral, saying Texas Community Bank, N.A., which has
asserted a security interest in all three of the Debtor's
properties, and in the leases and rents of the townhomes, is not
adequately protected.  TCB has filed a proof of claim for
$2,416,737 in the case.

A copy of Judge Paul's July 14, 2011 Memorandum Opinion is
available at http://is.gd/kOjNVyfrom Leagle.com.

Samshi Homes, LLC, filed a voluntary Chapter 11 petition (Bankr.
S.D. Tex. Case No. 10-37643) on Sept. 3, 2010.  Pre-bankrutpcy,
the Debtor acquired three lots in Houston, Texas.  On the first
lot, located at 2540 Prospect St., the Debtor developed seven
townhomes.  The Debtor also holds real property platted for
townhomes, located at 2616 Riverside and 2531 Calumet, for further
development.


SBARRO INC: Gets Court OK to Hire DJM as Real Estate Consultant
---------------------------------------------------------------
Sbarro, Inc., and its debtor-affiliates sought and obtained
authority from the U.S. Bankruptcy Court for the Southern District
of New York to employ DJM Realty Services, LLC, their as real
estate consultant and advisor, nunc pro tunc to May 12, 2011.

Prior to the Petition Date, the Debtors retained DJM to assist
them in reviewing their store leases and identifying those leases
where, with certain concessions from the landlords, the reduction
in costs could result in otherwise unprofitable stores becoming
profitable after giving effect to the agreed-upon modifications.
In addition to assisting the Debtors in securing rent reductions,
DJM has assisted the Debtors in identifying leases that are not
integral to its ongoing operations and should be rejected.

As real estate consultant and advisor, DJM will perform these
services for the Debtors:

   (a) negotiating the modification of certain of the Debtors'
       leases, as directed by the Debtors, to obtain rent
       reductions or other advantageous modifications;

   (b) negotiating the termination, assignment or other
       disposition of the Leases, as directed by the Debtors,
       including preparing and implementing a marketing plan and
       assisting the Debtors at any auctions of the Leases, if
       needed;

   (c) negotiating waivers or reductions of prepetition cure
       amounts and claims under Section 502(b)(6) of the
       Bankruptcy Code with respect to the Leases, as directed by
       the Debtors;

   (d) negotiating with landlords to obtain extensions of time to
       assume or reject certain of the Leases, as directed by the
       Debtors; and

   (e) reporting periodically to the Debtors regarding the status
       of negotiations.

In exchange for its services, the Debtors will pay DJM pursuant to
these terms, subject to an overall cap of $375,000:

(A) Lease Modifications

   (i) In connection with any renegotiation of the monetary terms
       of any Lease, DJM's fee will be the dollar amount
       equal to 5.0% of Occupancy Cost Savings.  Occupancy Cost
       means the sum of base rent, percentage rent, CAM, taxes,
       insurance and other charges payable by the tenant under a
       particular Lease.

  (ii) For negotiating an extension of terms where there is no
       Existing option term or an existing option term is not
       exercised as part of the transaction, DJM's fee will be
       the greater of (i) the dollar amount equal to 5.0% of
       Occupancy Cost Savings and (ii) $1,500.  If the period of
       extension is less than 10 years, the $1,500 amount will be
       reduced pro rata based on the number of years of the
       extension.

(iii) As to each Lease for which DJM's efforts resulted in a
       Landlord executed Lease modification agreement with
       monetary terms in accord with the parameters assigned by
       the Debtors and, for whatever reason, the relevant Lease
       is not later assumed by the Debtors, then DJM is entitled
       to a fee in the amount of 35% of the fee it would have
       earned if the Lease had been assumed.

  (iv) For renegotiating a non-monetary provision of a Lease,
       Including but not limited to the Debtors' unilateral right
       to early termination of a Lease, DJM's fee will be $1,500
       per applicable Lease.

(B) Dispositions

       With respect to the Leases that the Debtors direct DJM to
       Market for sale, assignment, termination or other
       transfer, DJM will earn a fee in a dollar amount equal to
       5.0% of the Gross Proceeds of the disposition.

(C) Reduction in Bankruptcy Claims

   (i) For any Lease rejected by the Debtors, if the landlord
       agrees to reduce or waive the claim it could reasonably
       assert under Section 502(b)(6) of the Bankruptcy Code or
       otherwise, DJM will receive a fee in an amount equal to
       5.0% of the distribution that would have been attributable
       under the Debtors' confirmed Chapter 11 plan to the amount
       by which the claim is reduced or waived.

  (ii) For any Lease assumed by the Debtors, if the landlord
       agrees to reduce or waive its cure claim, DJM will receive
       a fee in an amount equal to 5.0% percent of the reduction
       or waiver.

(D) Extensions of Time to Assume/Reject Leases

       If the Debtors request that DJM negotiate with landlords
       to obtain extensions of time to assume or reject Leases
       under Section 365(d)(4) of the Bankruptcy Code, DJM will
       be paid a fee of $250 per landlord executed extension
       agreement.

(E) Costs & Expenses

   (i) The Debtors may take a credit for and DJM will not be
       entitled to receive the first $50,000 of fees earned by
       DJM.  The total compensation actually payable by the
       Debtors to DJM will not exceed $375,000.

  (ii) DJM will not be responsible for any transactional costs
       or legal expenses incurred by the Debtors in connection
       with the retention of DJM and its involvement with the
       Leases.

(iii) The Debtors will reimburse DJM for its reasonably incurred
       travel expenses, provided that the Debtors have pre-
       approved the travel expenses.

DJM will request allowance of its fees by filing a notice after
providing an invoice for any applicable earned fees to the Debtors
accompanied with reasonable back-up documentation setting forth
the amounts owed to DJM, and serving the Fee Notice on (i) the
Debtors and their counsel, (ii) the U.S. Trustee, (iii) counsel to
the lenders under the Debtors' postpetition
debtor-in-possession financing facility, (iv) counsel to the
Creditors' Committee, and (v) counsel to the Debtors' prepetition
second lien lender.

DJM's fees and expenses provided for in the parties' Consulting
Agreement will be treated as administrative expenses pursuant to
section 507(a) of the Bankruptcy Code.

The Debtors are authorized to indemnify and hold harmless DJM and
its affiliates, their officers, directors, employees, agents and
independent contractors pursuant to the Consulting Agreement,
unless the claims arise as the result of DJM's negligence, gross
negligence or willful misconduct.

Edward P. Zimmer, Esq., DJM's General Counsel, assured the Court
that DJM is a "disinterested person" as that term is defined in
Section 101(14) of the Bankruptcy Code, as modified by Section
1107(b).

                      About Sbarro Inc.

The Sbarro family started its business after moving to Brooklyn,
New York, from Naples, Italy, in 1956.  Today Sbarro is a leading,
global Italian quick service restaurant concept with approximately
5,170 employees, 1,045 restaurants throughout 42 countries, and
annual revenues in excess of $300 million.

Sbarro Inc. sought bankruptcy protection under Chapter 11 (Bankr.
S.D.N.Y. Lead Case No. 11-11527) to eliminate about $200 million
in debt.  According to its schedules, the Debtor disclosed
$51,537,899 in total assets and $460,975,646 in total debts.

Sbarro said it has reached an agreement with all of its second-
lien secured lenders and approximately 70% of its senior
noteholders on the terms of a reorganization plan that will
eliminate more than half of the Company's total indebtedness.

Edward Sassower, Esq., and Nicole Greenblatt, Esq., at Kirkland &
Ellis, LLP, serve as the Debtors' general bankruptcy counsel.
Rothschild, Inc., is the Debtors' investment banker and financial
advisor.  PriceWaterhouseCoopers LLP is the Debtors' bankruptcy
consultants.  Marotta Gund Budd & Dzera, LLC, is the Debtors'
special financial advisor.  Curtis, Mallet-Prevost, Colt & Mosle
LLP serves as the Debtors' conflicts counsel.  Epiq Bankruptcy
Solutions, LLC, is the Debtors' claims agent.  Sard Verbinnen & Co
is the Debtors' communications advisor.  DJM Realty Services, LLC,
serves as the Debtors' real estate consultant and advisor.


SEARS HOLDINGS: Moody's Downgrades CFR to Ba3; Outlook Negative
---------------------------------------------------------------
Moody's Investors Service lowered Sears Holdings Corporation's
Corporate Family Rating to Ba3 from Ba2. Actions on other rated
debt instruments are detailed below. The rating outlook is
negative. The rating actions conclude the review for possible
downgrade that commenced on May 11, 2011.

RATINGS RATIONALE

"The downgrade of the company's Corporate Family Rating to Ba3
reflects the continued negative trends in revenues and operating
margins of Sears Holdings and its weakened business and market
position" said Moody's Vice President Scott Tuhy. The company has
seen persistent declines in consolidated revenues over the past
few years as well as pressure on operating margins which we
believe have resulted from erosion in market share. Credit metrics
have weakened and are expected to remain weak for an extended
period. The company has also seen weaker performance at its 92%
owned subsidiary Sears Canada Inc., which is being challenged by
weak economic conditions in Canada.

The negative rating outlook primarily reflects uncertainties
around the company's ability to arrest recent declines in sales
and operating margins. Continuation of recent negative trends
could lead to further negative rating pressure. Our rating and
outlook take into consideration expectations the company will be
balanced on its financial policies, as we expect the company to
reduce funded debt over the next 12 to 18 months as it redeems
maturing long term debt and continues to make meaningful
contributions to its domestic pension plans. We believe the sharp
declines in appliance sales in recent quarters reflect timing of
stimulus plans in the last year, and we expect appliance sales to
gradually recover toward more normalized replacement demand,
though weak conditions in the US housing market will remain a drag
for sales of higher ticket items like appliances. The rating
outlook could be stabilized if operating earnings begin to
stabilize and debt/EBITDA is expected to be sustained below 5
times and interest coverage (EBITA/interest) approached 1.5 times.

Sears Holdings Ba3 rating is constrained by its persistent
negative trends in sales and operating margins as well as its high
leverage with debt/EBITDA in the high 5 times range as of its most
recent LTM period. The rating also takes into consideration the
company's significant scale in the US retail segment, its broad
product diversification, and ownership of a number of well known
consumer brands including Lands' End, Craftsman and Kenmore. The
ratings also reflect the company's sizable asset base and good
overall liquidity.

In view of the persistence of Sears Holdings' operating
challenges, ratings are unlikely to be upgraded over the near
term. Over time ratings could be upgraded if the company
demonstrated sustained recovery in sales and operating earnings
while also sustaining debt/EBITDA below 4.5 times and interest
coverage approached 2.0 times.

Ratings could be downgraded further if the company's operating
earnings continue to erode over the next few quarters.
Quantitatively ratings could be lowered if interest coverage
remains near 1.0 times or if debt/EBITDA is expected to be
sustained above 5 times.

The following ratings were downgraded and LGD assessments amended

Sears Holdings Corporation

Corporate Family Rating to Ba3 from Ba2

Probability of Default Rating to Ba3 from Ba2

Senior Secured to Ba2 (LGD 3, 39%) from Ba1 (LGD 3, 39%)

Sears, Roebuck and Co.

Issuer Rating to Ba3 from Ba2

Sears Roebuck Acceptance Corp.

Senior Unsecured to B1 (LGD 5, 76%) from Ba3 (LGD 5, 76%)

Sears DC Corp.

Senior Unsecured MTN to (P)B2 (LGD 6, 97%) from (P)B1 (LGD 6, 97%)

The following ratings were affirmed:

Sears Holdings Corporation

Speculative Grade Liquidity rating at SGL-2

Sears Roebuck Acceptance Corp

Commercial Paper at Not Prime

Sears Holdings Corporation is the parent company of Kmart
Corporation and Sears, Roebuck and Co. The company also owns a 92%
stake in Sears Canada and an 80.1% stake in Orchard Supply
Hardware. Revenues are approximately $43 billion.

The principal methodology used in rating Sears Holdings
Corporation was the Global Retail Industry Methodology published
in June 2011. Other methodologies used include Loss Given Default
for Speculative-Grade Non-Financial Companies in the U.S., Canada
and EMEA published in June 2009.


SEARS ROEBUCK: Says It Owns Worker's OT Suit, Wants It Tossed
-------------------------------------------------------------
Jonathan Randles at Bankruptcy Law360 reports that Sears Roebuck &
Co. on Thursday asked a California federal judge to squash a wage-
and-hour class action by a former assistant store manager, arguing
that a bankruptcy court had sold the lead plaintiff's stake in the
case to Sears for $27,000.

According to Sears' motion to dismiss, a California bankruptcy
court sold the lawsuit to the retail chain on May 10 as part of
lead plaintiff Patrick Rodriguez's Chapter 7 proceedings.


SENTINEL MANAGEMENT: First Horizon Seeks $25MM Coverage for Suits
-----------------------------------------------------------------
Martin Bricketto at Bankruptcy Law360 reports that First Horizon
National Corp. on Monday sued underwriters with Lloyd's of London
and Aspen Insurance UK Ltd. in Tennessee federal court, seeking up
to $25 million in coverage for two suits alleging it improperly
sold collateralized debt obligations to Sentinel Management Group
Inc.

The underlying lawsuits brought by the liquidation trustee of
Sentinel Management Group Inc. against First Horizon subsidiaries
and employees together seek at least $199 million in damages for
alleged errors and omissions in the sale of certain collateralized
debt obligations, according to Law360.

                    About Sentinel Management

Based in Northbrook, Illinois, Sentinel Management Group Inc. --
http://www.sentinelmgi.com/-- was a full service firm offering a
variety of security solutions.  The Company filed a voluntary
Chapter 11 petition on Aug. 17, 2007 (Bankr. N.D. Ill. Case No.
07-14987).  Ronald Barliant, Esq., Randall Klein, Esq., and
Kathryn A. Pamenter, Esq., at Goldberg, Kohn, Bell & Black
Rosenbloom & Moritz, Ltd., represent the Debtor.  Lawyers at
Quinn, Emanuel Urquhart Oliver & Hedges, LLP, represent the
Official Committee of Unsecured Creditors.  When the Debtor sought
bankruptcy protection, it estimated assets and debts of more than
$100 million.

On Aug. 28, 2007, the Court approved Frederick Grede as the
Debtor's Chapter 11 Trustee.  Marc I. Fenton, Esq., at DLA Piper
US LLP, and Vincent E. Lazar, Esq, at Jenner & Block LLP,
represent the Chapter 11 Trustee.

The Court confirmed a plan of liquidation for Sentinel on
December 15, 2008, and Mr. Grede is managing the liquidation.


SIGNATURE STYLES: Gets Court OK to Tap Western Reserve as Banker
----------------------------------------------------------------
Signature Styles LLC and Signature Styles Gift Cards LLC obtained
authority from the U.S. Bankruptcy Court for the District of
Delaware to employ Western Reserve Partners LLC as their
investment banker with respect to evaluating potential sales of
the Debtors' assets and other strategic alternatives, nunc pro
tunc to the Petition Date.

The Court held that indemnification provisions -- as modified in
the parties' engagement letter to delete a provision relating to
limitation liability -- are approved.

The Court further held that Western Reserve will not be reimbursed
for reasonable expenses in an amount greater than $10,000, unless
agreed to by the Debtors, with the consent of the Official
Committee of Unsecured Creditors and the Office of the U.S.
Trustee.

                   About Signature Styles

Signature Styles LLC, owner of the Spiegel catalog, filed a
Chapter 11 petition (Bankr. D. Del. Case No. 11-11733) on June 6,
2011, along with a deal to sell the business to affiliates of the
current owners and lenders.

New York-based Signature Styles, which filed for bankruptcy
together with its affiliates, disclosed assets of $48.6 million
and debt of $867.6 million.  It purchased the Spiegel business for
$21.7 million at a foreclosure sale in June 2009.  Debt includes
$37.2 million owing on a secured term loan and revolving credit.
Unsecured debt totals $35.3 million, which include $9.8 million
owing to trade suppliers and $23.2 million in customer
obligations.  The lenders and owners are funds affiliated with
Patriarch Partners LLC.

Christopher A. Ward, Esq., at Polsinelli Shughart PC, in
Wilmington, Delaware, serves as counsel to the Debtor.  Western
Reserve Partners LLC serves as investment bankers.  Epiq
Bankruptcy Solutions, LLC, is the claims and notice agent.

A fund affiliated with Patriarch Partners LLC has an agreement to
buy the business in return for the assumption of specified debt,
including $30 million owing on the term loan and revolving credit.
The buyer also will honor some customer obligations.  The
stalking-horse purchase agreement requires approval of bidding
procedures by July 7 and approval of a sale by Aug. 4.

Roberta A. DeAngelis, United States Trustee for Region 3,
appointed an official committee of unsecured creditors in the
case.


STELLEX MICROWAVE: Ruling Issued in Mission West-Republic Dispute
-----------------------------------------------------------------
The Court of Appeals of California, Sixth District, affirmed a
trial court ruling in the case, Mission West Properties, L.P., et
al., Plaintiffs, Cross-Defendants, and Appellants, v. Republic
Properties Corporation, et al., Defendants, Cross-Complainants and
Respondents, No. H035038 (Calif. App. Ct.).  After a court trial,
Mission West Properties, L.P. and Mission West Properties, Inc.
failed to recover on their complaint for breach of a partnership
agreement, breach of fiduciary duty, and related causes of action,
while Republic, their partners, recovered on their cross-complaint
for reciprocal claims.  Mission West asserts both substantive and
procedural errors in the trial court's legal and factual
conclusions.

Mission West and the Republic entities were partners in the
Hellyer Avenue Limited Partnership.  Mission West Properties L.P.
owned a 50% interest in HALP and was HALP's general managing
partner.  The general partner of MWLP was Mission West Properties
Inc., which operated as a publicly held real estate investment
trust.  Carl Berg was the president of MWI.  His construction
management company, Berg & Berg Enterprises, is also an appellant,
but it was not one of the original partners in HALP.

The other 50% of HALP was held by Republic, 1%; Steven A. Grigg,
its president, 3.6%; David L. Peter, its executive vice-president,
1.25%; and Mentmore Partners LLC, 44.15%.

HALP was formed to acquire and develop a facility and lease it to
Stellex Microwave, a subsidiary of Stellex Industries, Inc.
Mentmore Holdings Corporation owned Stellex Technologies and
provided management services to the various Stellex subsidiaries.

Stellex Microwave filed for Chapter 11 bankruptcy protection on
Sept. 12, 2000.  On Jan. 11, 2001, over HALP's objection, the
Bankruptcy Court entered an order approving the purchase by Tyco
Acquisition Corp XIV of Stellex Microwave's assets, including the
HALP lease, the construction agreement, and an Aug. 30, 2000
payment agreement.  All obligations under these contracts would be
assumed by Tyco and defaults would be deemed cured.

On Feb. 2, 2001 Stellex Microwave paid Berg & Berg $8,341,412, the
amount Stellex Microwave had received from Tyco.  Stellex
Microwave had continued paying its rent during the entire
bankruptcy period, and Tyco continued to pay the rent on time; but
Berg did not make any distributions of the income after August
2000.  The lease was subsequently assigned to Cobham PLC.

Mission West filed the complaint on Feb. 26, 2001, requesting
declaratory relief, a constructive trust, and damages for breach
of fiduciary duty, concealment, and breach of the partnership
agreement and the covenant of good faith and fair dealing.
Mission West generally alleged that Republic and its officers,
Steven Grigg and David Peter, along with Mentmore Partners, had
failed to disclose Stellex Microwave's financial condition before
forming HALP.  The action was stayed, however, because a related
action brought by respondents was already pending in Maryland. The
judgment for respondents in that case was eventually vacated for
lack of personal jurisdiction over Mission West LP.

In July 2006, after the stay in the present action was lifted,
Republic et al. filed a cross-complaint against Mission West,
alleging that Mission West's failure to make monthly income
distributions constituted a breach of contract and breach of
fiduciary duty.  In an amended cross-complaint filed in November
2006, Republic added HALP and Berg & Berg as cross-defendants.
Republic sought damages, specific performance, a constructive
trust, declaratory relief, and dissolution of the partnership.

The matter was tried by the court between Feb. 24 and March 5,
2009.  After issuing a tentative decision and a statement of
decision, on Sept. 17, 2009 the court entered judgment for
respondents on both Mission West's complaint and the cross-
complaint, granting declaratory relief and damages to Republic et
al. for breach of the HALP limited partnership agreement.  After
unsuccessfully moving to vacate the judgment and for a new trial,
Mission West brought the appeal.

A copy of the appellate court's July 18, 2011 decision is
available at http://is.gd/Jnp9hjfrom Leagle.com.

Mission West is represented by:

          Robert R. Moore, Esq.
          Michael J. Betz, Esq.
          ALLEN MATKINS LECK GAMBLE MALLORY, & NATSIS LLP
          Three Embarcadero Center, 12th Floor
          San Francisco, CA 94111-4074
          Tel: (415) 837-1515
          Fax: (415) 837-1516
          E-mail: rmoore@allenmatkins.com
                  mbetz@allenmatkins.com

Republic et al. are represented by:

          Mitchell J. Green, Esq.
          CURTIS & GREEN
          701 North Brand Boulevard, Suite 200
          Glendale, CA 91203
          Tel: 626-585-9800
          Fax: 626-585-4186

               - and -

          Edward J. Tolchin, Esq.
          FETTMANN, TOLCHIN & MAJORS PC
          10509 JUDICIAL DRIVE, SUITE 300
          Fairfax, VA 22030
          Tel: 703-385-9500
          Fax: 703-385-9893
          E-mail: etolchin@ftm-pc.com


STEPHEN YELVERTON: Court Rejects Bid to Vacate Discharge Order
--------------------------------------------------------------
On Aug. 10, 2009, Melody Fennel commenced an adversary proceeding
(Adv. Proc. No. 09-10021) seeking a determination that a debt
Stephen Thomas Yelverton owed to her was nondischargeable under
Sec. 523(a)(2) of the Bankruptcy Code.  Mr. Yelverton has now
filed with the court a joint motion to vacate the discharge order
and to approve a reaffirmation agreement with Ms. Fennel as a
means of resolving the adversary proceeding.  Upon the court's
approval of the reaffirmation agreement and the passing of the 60-
day rescission period under Sec. 524(c), Mr. Fennel would then
dismiss the nondischargeability adversary proceeding with
prejudice.  The parties move to vacate the dismissal under Rule
60(b)(6) of the Federal Rules of Civil Procedure (incorporated in
bankruptcy by Federal Rule of Bankruptcy Procedure 9024).

In a July 18, 2011 Memorandum Decision, Bankruptcy Judge S. Martin
Teel, Jr., denied the Joint Motion, saying Mr. Yelverton has not
shown that non-enforcement will seriously prejudice him, nor has
he shown that his failure to enter into a reaffirmation agreement
before entry of the discharge was in spite of his efforts or
beyond his control.   A copy of Judge Teel's decision is available
at http://is.gd/doyBB6from Leagle.com.

Stephen T. Yelverton is the sole member of the Yelverton Law Firm,
PLLC.  He filed for Chapter 11 bankruptcy protection (Bankr. D.
D.C. Case No. 09-00414) on May 14, 2009.  Judge S. Martin Teel,
Jr., on Aug. 20, 2010, denied confirmation of the Debtor's plan
and converted the case to Chapter 7.


STRATEGIC PARTNERS: Founder Loses Bid to Vacate Sentence
--------------------------------------------------------
District Judge Catherine C. Blake denied a motion by Alan B.
Fabian under 28 U.S.C. Sec. 2255 to vacate his conviction and
sentence.  On May 16, 2008, Mr. Fabian pled guilty to mail fraud
in violation of 18 U.S.C. Sec. 1341 and making and subscribing a
false tax return in violation of 26 U.S.C. Sec. 7206(1).  Judge
Blake said no hearing was necessary to consider Mr. Fabian's
request.  A copy of Judge Blake's July 14, 2011 Memorandum is
available at http://is.gd/UvqN7Ufrom Leagle.com.  The case is
United States of America, v. Alan Brian Fabian, Civil No.
CCB-09-2810, Crim. No. CCB-07-0355 (D. Md.).

In 1998, Alan Fabian and a business partner created a limited
liability company called Strategic Partners International LLC.
Mr. Fabian was the Managing Partner of SPI LLC.  SPI LLC
specialized in IT and activity-based costing consulting services.
In July 2000, Mr. Fabian and his partner sold their ownership
interests in SPI LLC to MAXIMUS, Inc., a publicly traded
government consulting company.  SPI LLC became a wholly owned
subsidiary of MAXIMUS, a status it retained until September 2001.
In September 2001, MAXIMUS merged SPI LLC out of existence.  Mr.
Fabian signed the Articles of Merger on behalf of SPI LLC, which
explicitly stated that SPI LLC ceased to exist.

On March 14, 2002, Mr. Fabian incorporated a new company called
Strategic Partners International Incorporated.  He did not inform
MAXIMUS that he had incorporated SPI Inc. and MAXIMUS had no
ownership interest in SPI Inc.  Rather, Mr. Fabian was the 100%
owner of SPI Inc.

SPI Inc. filed for Chapter 11 bankruptcy in 2004 after defaulting
on equipment lease loans.  A federal probe revealed that Mr.
Fabian conducted a $32 million sale and lease-back scheme with
computer equipment, much of which never actually existed, and he
was indicted in 2007.

Mr. Fabian was sentenced to nine years in prison in November 2008
and filed for Chapter 7 bankruptcy on Dec. 31, 2008.  He listed
$3.7 million in assets and $52 million in liabilities in his
bankruptcy filing.

Zvi Guttman was appointed as trustee in SPI Inc.'s Chapter 11
case.  He is represented by Joel Sher, Esq., at Shapiro Sher
Guinot & Sandler in Baltimore.

Monique Almy in Washington, D.C., serves as trustee in the
Chapter 7 case.


SUN-TIMES MEDIA: Files Modified Plan of Liquidation
---------------------------------------------------
BankruptcyData.com reports that Sun-Times Media Group filed with
the U.S. Bankruptcy Court a First Modified Plan of Liquidation and
Disclosure Statement.

According to the Disclosure Statement, "The Plan provides for the
liquidation and distribution of the Debtors' remaining assets for
the benefit of certain Holders of Allowed Claims. Specifically,
Holders of Administrative Claims and Priority Non-Tax Claims will
be paid in full in Cash. Holders of Priority Tax Claims (namely,
Holders of the Allowed IRS Claim and the Allowed NY State Claim),
comprising the only voting Class, will receive all of the Debtors'
residual net distributable value. All other Classes of Claims and
Interests will receive no distribution on account of their
respective Claims and Interests. The Plan contemplates that, on
the Effective Date, the Chapter 11 Cases and the Debtors and their
Estates will be deemed to be substantively consolidated for all
purposes of the Plan. The assets and liabilities of the Debtors
will be pooled and all Claims will be satisfied from the assets of
a single consolidated Estate. No parties in interest, however,
will be prejudiced by this substantive consolidation because
Holders of Priority Tax Claims hold their Claims at each Debtor
entity and are Impaired. Accordingly, the distributions under the
Plan are unaffected by substantive consolidation."

                       About Sun-Times Media

Sun-Times Media Group, Inc. (Pink Sheets: SUTMQ) --
http://www.thesuntimesgroup.com/-- (Pink Sheets: SUTM) owns
media properties including the Chicago Sun-Times and Suntimes.com
and 58 suburban newspaper titles and corresponding Web sites.  The
Company and its affiliates conduct business as a single operating
segment which is concentrated in the publishing, printing, and
distribution of newspapers in greater Chicago, Illinois,
metropolitan area and the operation of various related Web sites.
The Company also has affiliates in Canada, the United Kingdom, and
Burma.

Sun-Times Media's balance sheet at Sept. 30, 2008, showed total
assets of $479.9 million, total liabilities of $801.7 million, and
a stockholders' deficit of $321.8 million.

The Company and its affiliates filed for Chapter 11 bankruptcy
protection on March 31, 2009 (Bankr. D. Del. Case No. 09-11092).
James H.M. Sprayregan, P.C., James A. Stempel, Esq., David A.
Agay, Esq., and Sarah H. Seewer, Esq., at Kirkland & Ellis LLP,
Serve as the Debtors' bankruptcy counsel.  Sun-Times Media's
investment banker is Rothschild Inc. and its restructuring advisor
is Huron Consulting Group.  Kurtzman Carson Consultants LLC is the
Debtors' claims agent.  The Debtors disclosed $479 million in
assets and $801 million in debts as of Nov. 7, 2008.

In October 2009, the bankruptcy judge approved the $25 million
sale of Sun-Times Media Group to STMG Holdings LLC, a private
investor group led by Chicago businessman and Mesirow Financial
Holdings Inc. CEO James C. Tyree.


SUNNYLAND USA: Case Summary & 7 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Sunnyland USA, Inc.
        3499 S Federal Highway 1
        Fort Pierce, FL 34982

Bankruptcy Case No.: 11-29836

Chapter 11 Petition Date: July 18, 2011

Court: U.S. Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Erik P. Kimball

Debtor's Counsel: Robert C. Furr, Esq.
                  FURR & COHEN
                  2255 Glades Road, #337W
                  Boca Raton, FL 33431
                  Tel: (561) 395-0500
                  Fax: (561) 338-7532
                  E-mail: bnasralla@furrcohen.com

Scheduled Assets: $2,575,792

Scheduled Debts: $6,575,910

A list of the Company's seven largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/flsb11-29836.pdf

The petition was signed by Abbasgholi Bayat, president.


TAYLOR BEAN: Freddie Mac Balks at Deal with Bank of America
-----------------------------------------------------------
American Bankruptcy Institute reports that Freddie Mac is seeking
to put the brakes on a recently proposed $1.6 billion settlement
involving the bankruptcy estate of Taylor, Bean & Whitaker
Mortgage Corp. and Bank of America over assets tangled up in the
massive fraud at the disgraced mortgage lender.

                        About Taylor Bean

Taylor, Bean & Whitaker Mortgage Corp. grew from a small Ocala-
based mortgage broker to become one of the largest mortgage
bankers in the United States.  In 2009, Taylor Bean was the
country's third largest direct-endorsement lender of FHA-insured
loans of the largest wholesale mortgage lenders and issuer of
mortgage backed securities.  It also managed a combined mortgage
servicing portfolio of approximately $80 billion.  The company
employed more that 2,000 people in offices located throughout the
United States.

Taylor Bean sought Chapter 11 protection (Bankr. M.D. Fla. Case
No. 09-07047) on Aug. 24, 2009.  Taylor Bean filed the Chapter 11
petition three weeks after federal investigators searched its
offices.  The day following the search, the Federal Housing
Administration, Ginnie Mae and Freddie Mac prohibited the company
from issuing new mortgages and terminated servicing rights.
Taylor Bean estimated more than $1 billion in both assets and
liabilities in its bankruptcy petition.

Jeffrey W. Kelly, Esq., and J. David Dantzler, Jr., Esq., at
Troutman Sanders LLP, in Atlanta, Ga., and Russel M. Blain, Esq.,
and Edward J. Peterson, III, Esq., at Stichter, Riedel, Blain &
Prosser, PA, in Tampa, Fla., represent the Debtors.  Paul Steven
Singerman, Esq., and Arthur J. Spector, Esq., at Berger Singerman
PA, in Miami, Fla., represent the Committee.  BMC Group, Inc.,
serves as the claims and noticing agent.


TC GLOBAL: Incurs $1.06-Mil. Net Loss in Q4 Ended April 3
---------------------------------------------------------
TC Global, Inc., dba Tully's Coffee announced its financial
results for the 14-week ending April 3, 2011.  The Company has
reduced losses from $1,680,000 in the 13-week period ending
June 27, 2010, to $1,069,000 in Fourth Quarter Fiscal 2011.

"We saw significant improvement in key operating metrics in the
second half of Fiscal 2011 and continued to see positive trends in
the First Fiscal Quarter of 2012, which ended on July 3rd 2011,
the results for which will be finalized and released in August,"
stated Scott Pearson, President and CEO of TC Global Inc.

Tully's announces the addition of two new members to its Board of
Directors - Paul Reed and Stephen Loeb.  Reed, currently President
and CEO of Door-to-Door Storage Inc, brings to the board
experience in the coffee industry as a founder of Seattle Coffee
Inc. as well as acclaimed financial experience and acumen that was
most recently recognized by the Puget Sound Business Journal in
naming Reed as the 2010 CFO of the Year.  Loeb, the former
President and CEO of Alaska Distributors Co. adds exceptional
knowledge and experience in the beverage industry as well as
logistics, distribution, sales, marketing and import/export with
one of the top ranked private companies in Washington State.

"Both Paul and Stephen offer a wealth of both business and
community board experience.  We feel extremely fortunate to have
two such high caliber and experienced members of the Northwest
business community join our board.  They will be great
contributors that will complement our already-strong group of
business leaders," stated Jan Hendrickson, Lead Director of the
Company's Board.  The Company also announced the departure of Carl
Pennington from the Board.  Pennington recently retired as CEO.
"We wish him the best as he moves on to future endeavors,"
continues Hendrickson.

The Company has scheduled its annual shareholder's meeting for
September 8, 2011, with meeting details still pending, and looks
forward to discussing company status and prospects with those in
attendance.

A full-text copy of the press release announcing the financial
results is available for free at http://is.gd/muQ008

                          About TC Global

TC Global, Inc., dba Tully's Coffee, is a specialty coffee
retailer and wholesaler.  Through company owned, licensed and
franchised specialty retail stores in Washington, Oregon,
California, Arizona, Idaho, Montana, Colorado, Wyoming and Utah,
throughout Asia with Tully's Coffee International, and with its
global alliance partner Tully's Coffee Japan, Tully's premium
coffees are available at nearly 600 branded retail locations
globally, including more than 200 in the United States.  TC Global
also has the rights to distribute Tully's coffee through all
wholesale channels internationally, outside of North America, the
Caribbean and Japan. TC Global's corporate headquarters is located
at 3100 Airport Way S, in Seattle, Washington.  See
http://www.TullysCoffeeShops.com

The Company reported a net loss attributable to TC Global, Inc.,
of $5.21 million on $38.26 million of net sales for the year ended
April 3, 2011, compared with a net loss attributable to TC Global,
Inc., of $5.19 million on $39.57 million of net sales for the year
ended March 28, 2010.

The Company's balance sheet at April 3, 2011, showed $8.47 million
in total assets, $16.40 million in total liabilities and a $7.92
million total stockholders' deficit.

Moss Adams LLP, in Seattle, Washington, expressed substantial
doubt about the Company's ability to continue as a going concern.
The independent auditors noted that the Company has suffered
recurring losses and has limited working capital to fund
operations.


TECHDYNE LLC: U.S. Trustee Unable to Form Committee
---------------------------------------------------
The United States Trustee for Region 8, advises the bankruptcy
court that a committee under 11 U.S.C. Sec. 1102 in the Chapter 11
case of TechDyne, LLC has not been appointed because an
insufficient number of persons holding unsecured claims against
the debtor have expressed interest in serving on a committee.  The
U.S. Trustee reserves the right to appoint such a committee should
interest develop among the creditors.

TechDyne, LLC, based in Scottsdale, Arizona, filed for Chapter 11
bankruptcy (Bankr. D. Ariz. Case No. 11-16739) on June 9, 2011.
Judge Charles G. Case, II, presides over the case.  In its
Schedules, the Debtor disclosed $100,000,070 in assets and
$701,313 in debts.  The petition was signed by Benjamin V. Booher,
Sr., managing member.


TERRESTAR NETWORKS: Unsecureds Sue to Recharacterize Some Claims
----------------------------------------------------------------
American Bankruptcy Institute reports that unsecured creditors of
TerreStar Network Inc. are attacking the status of some claims in
the bankruptcy case after the company gained court approval for
its $1.375 billion sale to Dish Network Corp.

                       About TerreStar Networks

TerreStar Corporation and TerreStar Holdings, Inc., filed
voluntary Chapter 11 petitions with the U.S. Bankruptcy Court for
the Southern District of New York on Feb. 16, 2011.

TSC's Chapter 11 filing joins the bankruptcy proceedings of
TerreStar Networks Inc. and 12 other affiliates, which filed on
Oct. 19, 2010.  The October Chapter 11 cases are procedurally
consolidated under TSN's Case No. 10-15446 under Judge Sean H.
Lane.

TSC is the parent company of each of the October Debtors.  TSC has
four wholly owned direct subsidiaries: TerreStar Holdings, Inc.,
TerreStar New York Inc., Motient Holdings Inc., and MVH Holdings
Inc.

TSC's case is jointly administered with the cases of seven of the
October Debtors under the caption In re TerreStar Corporation, et
al., Case No. 11-10612 (SHL).  The seven Debtor entities who
sought joint administration with TSC are TerreStar New York Inc.,
Motient Communications Inc., Motient Holdings Inc., Motient
License Inc., Motient Services Inc., Motient Ventures Holdings
Inc., and MVH Holdings Inc.

TSC is a Delaware corporation whose main asset is the equity in
non-Debtor TerreStar 1.4 Holdings LLC, which has the right to use
a "1.4 GHz terrestrial spectrum" pursuant to 64 licenses issued by
the Federal Communication Commission.  TSC also has an indirect
89.3% ownership interest in TerreStar Network, Inc., which
operates a separate and distinct mobile communications business.
TerreStar Holdings is a Delaware corporation that directly holds
100% of the interests in 1.4 Holdings LLC.

TerreStar Networks -- TSN -- the principal operating entity of
TSC, developed an innovative wireless communications system to
provide mobile coverage throughout the United States and Canada
using satellite-terrestrial smartphones.  The system, however,
required an enormous amount of capital expenditures and initially
produced very little in the way of revenue.  TSN's available cash
and borrowing capacity were insufficient to cover its funding;
thus, forcing TSN to seek bankruptcy protection in October 2010.

TSC estimated assets and debts of $100 million to $500million in
its Chapter 11 petition.

Ira S. Dizengoff, Esq., at Akin, Gump, Strauss, Hauer & Feld, LLP,
in New York, serves as counsel for the TSC and TSN Debtors.
Garden City Group is the claims and notice agent.  Blackstone
Advisory Partners LP is the financial advisor.

The Garden City Group, Inc., is the claims and noticing agent in
the Chapter 11 cases.  Otterbourg Steindler Houston & Rosen P.C.
is the counsel to the Official Committee of Unsecured Creditors
formed in TSN's Chapter 11 cases.  FTI Consulting, Inc., is the
Committee's financial advisor.

TerreStar has signed a contract to sell its business to Dish
Network Corp. for $1.38 billion.  TerreStar cancelled a June 30
auction because there were no competing bids submitted by the
deadline.


TETON AIR: Voluntary Chapter 11 Case Summary
--------------------------------------------
Debtor: Teton Air Ranch LLC
        201 E. Center
        P.O. Box 1391
        Pocatello, ID 83204-1391

Bankruptcy Case No.: 11-41190

Chapter 11 Petition Date: July 18, 2011

Court: U.S. Bankruptcy Court
       District of Idaho (Pocatello)

Judge: Jim D. Pappas

Debtor's Counsel: Daniel C. Green, Esq.
                  RACINE OLSON NYE BUDGE & BAILEY
                  P.O. Box 1391
                  Pocatello, ID 83204-1391
                  Tel: (208) 232-6101
                  E-mail: dan@racinelaw.net

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

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

The Company did not file a list of creditors together with its
petition.

The petition was signed by Corey Simon, authorized representative.


TOKIO MARINE: Seeks Recognition of U.K. Bankruptcy Cases
--------------------------------------------------------
The foreign representative of Tokio Marine Europe Insurance
Limited has filed a verified petition under Chapter 15 for the
United States courts' recognition of Tokio's adjustment-of-debt
proceeding in the United Kingdom.

David McGuigan, the foreign representative, said Tokio is bound by
a "scheme of arrangement "pursuant to proceedings in the High
Court of Justice of England and Wales.

A scheme of arrangement is a well-established mechanism under
English law that has been used regularly for dealing equitably
with the closure of the run-off of insurance or reinsurance
business.

Designated in the U.K. proceedings as the "scheme company", Tokio
Marine has conducted insurance business in the London insurance
market since it was incorporated in 1970.  The business has been
in solvent "run-off" since 2004.  An English corporation, Pro
Insurance Solutions Limited, was appointed to manage the run-off
of the business in 2005 and is the scheme manager.

Tokio Marine conducts its business operations from its offices in
the United Kingdom and employs approximately 170 employees in the
United Kingdom.  Its balance sheet as of Dec. 31, 2010 shows total
unconsolidated assets of roughly $724 million, substantially all
of which are held in or connected to England.

Tokio Marine estimates that roughly 65% of its total assets are
located in the United Kingdom and roughly $136 million of its
total liabilities are owed to policyholders in the United Kingdom.
It estimates that it has 97,000 policyholders worldwide in respect
of all business written by it.

Tokio Marine has creditors located throughout the United States
including in New York.  Specifically, it has 53 policyholders in
the United States holding 481 policies subject to the Scheme.  It
estimates that its potential exposure to policyholders in respect
of Scheme Business in the United States is roughly $244 million.

The Scheme of Arrangement was designed to reorganize Tokio
Marine's business by subjecting its London market reinsurance
business to the scheme process so as to enable the Company to
close down its reinsurance department in circumstances where the
Tokio Group continues to write new reinsurance business.

The foreign representative asserts that assistance of the New York
Bankruptcy Court is necessary to bind creditors in the United
States to the Scheme of Arrangement in the U.K.  The Scheme, he
says, will provide full and final payments of claims in a manner
that will protect the interests of the creditors by providing
equal and consistent treatment of all claims.


TOKIO MARINE: Chapter 15 Case Summary
-------------------------------------
Chapter 15 Petitioner: David McGuigan

Chapter 15 Debtor: Tokio Marine Europe Insurance Limited
                   150 Leadenhall Street
                   London, EC3V 4TE
                   England, United Kingdom

Chapter 15 Case No.: 11-13420

Type of Business: The debtor is a London-based company that
                  provides insurance solutions, risk engineering
                  and claims management in Europe.

Chapter 15 Petition Date: July 18, 2011

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

Debtor's Counsel: Lee Stein Attanasio, Esq.
                  SIDLEY AUSTIN LLP
                  787 Seventh Avenue
                  New York, NY 10019
                  Tel: (212) 839-5300
                  Fax: (212) 839-5599
                  E-mail: lattanasio@sidley.com

Estimated Assets: More than $100 Million

Estimated Debts: More than $100 Million

The Company did not file a list of creditors together with its
petition.


TOWNSENDS INC: Reviewing Claims; Wants More Exclusivity
-------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports the chicken producer formerly named Townsends Inc. seeks
-- for a third time -- an enlargement of the exclusive right to
propose a Chapter 11 plan.  A hearing on the request to stretch
out the plan deadline two months to Oct. 14 is scheduled for
Aug. 19.  TW Liquidation Corp. says it is "developing a strategy"
for the bankruptcy reorganization begun in December.  The company,
which has sold the assets, says it is now engaged in analyzing the
2,150 claims that were filed by the cutoff.

Mr. Rochelle notes that in the prior motion for more so-called
exclusivity, the company also said it was "developing a strategy
for the future."  As was true in the prior motion, the new
exclusivity motion doesn't provide a hint about how the case will
turn out for creditors.

                        About Townsends Inc.

Founded in 1891, Townsends Inc. is a third-generation, family-
owned poultry company.  Headquartered in Georgetown, Delaware,
Townsends operates production and processing facilities in
Arkansas and North Carolina.  Townsends Inc. -- fka Townsend
Specialty Foods -- and several affiliates filed for Chapter 11
bankruptcy protection (Bankr. D. Del. Lead Case No. 10-14092) on
Dec. 19, 2010.  As of Dec. 5, 2010, the Debtors disclosed
$131 million in total assets and $127 million in total debts.

Derek C. Abbott, Esq., at Morris Nichols Arsht & Tunnell, serves
as the Debtors' bankruptcy counsel.  McKenna Long & Aldridge LLP
serves as special counsel.  Huron Consulting Group's Dalton T.
Edgecomb serves as the Debtors' chief restructuring officer.  SSG
Capital Advisors, LLC, serves as investment banker.  Donlin,
Recano & Company, Inc., is the Debtors' claims, noticing and
balloting agent.

An Official Committee of Unsecured Creditors has been appointed in
the case.  The Committee has tapped Lowenstein Sandler PC as its
counsel and J.H. Cohn LLP as its financial advisor.  No trustee or
examiner has been appointed in the Debtors' bankruptcy cases.

In February 2011, Townsends obtained approval from the bankruptcy
judge to sell to Omtron USA LLC two chicken processing plants in
Chatham County, North Carolina, and other assets for $24,936,950.
Omtron is an affiliate of Agroholding Avangard, Ukraine's largest
egg producer.  The Debtor changed its name to TW Liquidation Corp.
following the sale.


TRIKEENAN TILEWORKS: Rival's Takeover Plan Done in Good Faith
-------------------------------------------------------------
Bankruptcy Judge J. Michael Deasy declined to confirm the Chapter
11 plan of Trikeenan Tileworks, Inc., Trikeenan Holdings, Inc.,
and Trikeenan Tileworks, Inc. of New York, saying it violates the
absolute priority rule, and is not fair and equitable to a
dissenting unsecured creditor class as required by 11 U.S.C. Sec.
1129(b)(2)(B).

Meanwhile, Judge Deasy held that the purchase of a small claim for
the purpose of filing a competing plan was done in good faith as
required by Sec. 1129(a)(3).  The Plan filed by Elgin Butler Inc.
only reorganizes Trikeenan Tileworks Inc. and Trikeenan Tileworks
Inc. of New York.  Judge Deasy said any doubts regarding the
feasability of Butler's Plan or any additional factual allegations
of bad faith can be raised in further proceedings with the
presentation of supporting evidence.

Trikeenan Tileworks, Inc., operates in New Hampshire and has
traditionally focused on artisan and specialty tiles which are
generally produced in small quantities.  Trikeenan Tileworks, Inc.
of New York operates in New York, manufacturing industrial glazed
brick and ceramic wall, quarry and recycled tile, usually at a
high volume.  Trikeenan Holdings, Inc., is the sole shareholder of
the two operating companies.  Kristen and Stephen Powers serve as
the Debtors' primary managers and own most of the stock in
Holdings.

Trikeenan NH's primary secured creditor is TD Bank who holds two
claims secured by either cash collateral or equipment.  Trikeenan
NY leases manufacturing space under a lease agreement with the
city of Hornell IDA.  Hornell delivered to Steuben Trust Company a
non-recourse promissory note secured by a first mortgage on the
manufacturing space and guaranteed by the Debtors and the Powers.
Trikeenan NY delivered a note to New York Business Development
Corporation.

The note is secured by personal property and guaranteed by
Trikeenan NH, Holdings, and the Powers.  Trikeenan NY also
delivered a note to Statewide Zone Capital Corporation of New York
that is secured by a mortgage on the manufacturing space and the
personal property of Trikeenan NY and Trikeenan NH.  The note to
Statewide is guaranteed by Holdings and the Powers.

Holdings' debt consists of guaranties on the debt of the two
operating companies and $765,000 owed to subordinated unsecured
claim holders.

                          Debtors' Plan

The Debtors' Plan groups creditors into 11 classes.  Class seven
consists of unsecured deficiency claims held by the secured
creditors of all three debtors.  The Debtors' Plan proposes to pay
each holder of a claim in class seven 10% of its claim in equal
monthly installments over five years.  Class ten only contains the
Debenture Holders, and class eleven includes the equity interests
of the Powers and Dan Henderson.

Under the Debtors' Plan, the class ten Debenture Holders do not
receive a cash distribution, but are awarded 50% of the ownership
shares and 80% of the voting shares issued by the reorganized
Debtors.  Class eleven's equity interests are reduced to 50% of
the ownership shares and 20% of the voting shares.

According to the amended certificate of vote, class seven rejected
the Debtors' Plan.  Butler said the Debtors' Plan is not fair and
equitable because classes ten and eleven receive value before a
dissenting senior class is paid in full.  Other creditors Steuben,
the NYBDC and Statewide Zone Capital also objected to the Plan.

The Debtors argue that these junior interest holders are not
receiving the stock "on account of" their prior interest, but due
to new value contributions.  The Debtors claim that there are two
types of new value contributions -- a loan from James Putnam and
the waivers of administrative claims and priority claims by the
Powers and the Debtors' board of directors.

A supplement to the Plan provides that Mr. Putnam, a debenture
holder, will extend to the Debtors a $177,000 loan upon Plan
confirmation.  The loan would mature in five years or Mr. Putnam
could convert the obligation into preferred shares of the
reorganized Holdings.  Once the proceeds of the Putnam loan are
received, the reorganized Holdings would make an equity
contribution to Trikeenan NH.  Trikeenan NH would then use the
proceeds to pay the claims of TD Bank and the Putnam Loan would be
secured by the same assets as the TD Bank loan.

A memo by the Debtors state that the Powers and the board have
waived priority wage claims and administrative claims to help the
Debtors confirm a plan.  The Powers have allegedly waived $22,550
in priority claims and $48,000 in administrative claims.  The
board have waived priority claims worth $7,500 and administrative
claims totaling $22,500.  The Debtors' schedule E does not match
the figures in the Debtors' Memo.  Schedule E states that the
board of directors and the Powers each have only $11,725 in
priority claims.  Furthermore, the waiver of administrative claims
was not addressed in the Debtors' Disclosure Statement or the
Debtors' Plan.

In denying confirmation of the Debtor's Plan, the Court said it
doesn't see how the loan and the waivers provide new value to the
estate.

                             Rival Plan

Butler is a Texas company that manufactures and distributes thin-
tile, structural tile, and brick.  It had conducted negotiations
to purchase the Debtors both before and after the filing of the
bankruptcy petitions.  None of the negotiations have resulted in a
sale.  The reason for the lack of a sale has been heavily debated
and appears to be a contentious topic between the parties.

The breakdown in negotiations led Butler to purchase a small claim
from W.B. Mason and propose a competing plan.  On Jan. 13, 2011,
W.B. Mason transferred its claim of $1,204.34 to Butler.  That
claim was amended to $485.56 after the transfer.

In its Plan, Butler proposes an $800,000 investment in the
reorganized Butler Debtors, $300,000 of which is a cash infusion.
Butler's Plan includes three elements to restructure the Butler
Debtors.  Butler intends to (1) consolidate the New Hampshire and
New York operations in New York, (2) update the equipment at the
New York manufacturing plant, and (3) implement new sales persons,
e-marketing, and an experienced plant manager.

Butler's Plan was accepted by five out of seven classes.  Class
three did not vote and class seven, which is the equity class, was
deemed to have rejected the plan because it received no
distributions.

If confirmed, Butlers' Plan would make Butler the sole owner of
the reorganized Butler Debtors and would replace the existing
officers and directors of the Butler Debtors with Butler's
management team.  In effect, Butler's Plan is a hostile takeover
of the Butler Debtors.

The Debtors objected to Butler's Plan arguing it was not filed in
good faith.

Judge Deasy, however, said bankruptcy courts have consistently
held that an unrelated party can purchase claims for the sole
reason of insuring standing to propose a competing plan, citing
Matter of Embrace Sys. Corp., 178 B.R. 112, 121 (Bankr. W.D. Mich.
1995); In re Rook Broad. of Idaho, Inc., 154 B.R. 970, 973 (Bankr.
D. Idaho 1993); In re First Humanics Corp., 124 B.R. 87, 92
(Bankr. W.D. Mo. 1991).  He said the question of good faith is
based on whether the claim purchaser's actions were in conformity
with the restructuring purposes of chapter 11.

Judge Deasy noted that Butler's purchase of a claim and proposal
of its plan coincides with the goals of chapter 11. Butler's Plan
restructures the Butler Debtors' secured debt, provides a dividend
to unsecured creditors, infuses capital into the Butler Debtors,
and provides a three step process to restructure the operations of
the Butler Debtors.  Butler's Plan has received significant
creditor support.

"Being a competitor who proposes a competing plan to take over the
debtor does not equal bad faith per se," Judge Deasy said.

Benjamin E. Marcus, Esq. -- bmarcus@dwmlaw.com -- at Drummond
Woodsum in Portland, Maine, argues for Elgin Butler.

A copy of Judge Deasy's July 14, 2011 Memorandum Opinion is
available at http://is.gd/LUPKkjfrom Leagle.com.

                     About Trikeenan Tileworks

Trikeenan Tileworks -- http://www.trikeenan.com/-- makes and
sells tiles.  Trikeenan Tileworks, Inc., Trikeenan Tileworks, Inc.
of New York, and Trikeenan Holdings, Inc., filed for Chapter 11
bankruptcy (Bankr. D. N.H. Lead Case No. 10-13725) on Aug. 30,
2010, estimating $500,000 to $1 million in assets, and $1 million
to $10 million in debts.  Jennifer Rood, Esq., at Bernstein Shur,
in Manchester, New Hampshire, serves as the Debtors' counsel.


TRONOX INC: Judge Denies Anadarko Loses Bid to Split Spinoff Suit
-----------------------------------------------------------------
Christie Smythe at Bankruptcy Law360 reports that New York
Bankruptcy Judge Allan Gropper on Tuesday denied Anadarko
Petroleum Corp.'s request to hold separate trials on liability and
damages in Tronox Inc.'s lawsuit over a spinoff in which the
company was allegedly stuck with billions of dollars in pollution
claims.

Law360 relates that Judge Gropper told the parties that it likely
would be impossible to separate liability from damages, given
overlapping evidence and expert testimony, among other factors.

A trial in the case is slated for April 2012.

                         About Tronox Inc.

Tronox Inc., aka New-Co Chemical, Inc., and 14 other affiliates
filed for Chapter 11 protection on Jan. 13, 2009 (Bankr. S.D.N.Y.
Case No. 09-10156).  The case is before Hon. Allan L. Gropper.
Richard M. Cieri, Esq., Jonathan S. Henes, Esq., and Colin M.
Adams, Esq., at Kirkland & Ellis LLP in New York, represent the
Debtors.  The Debtors also tapped Togut, Segal & Segal LLP as
conflicts counsel; Rothschild Inc. as investment bankers; Alvarez
& Marsal North America LLC, as restructuring consultants; and
Kurtzman Carson Consultants serves as notice and claims agent.

An official committee of unsecured creditors and an official
committee of equity security holders were appointed in the cases.
The Creditors Committee retained Paul, Weiss, Rifkind, Wharton &
Garrison LLP as counsel.

Until Sept. 30, 2008, Tronox was publicly traded on the New
York Stock Exchange under the symbols TRX and TRX.B.  Since then,
Tronox has traded on the Over the Counter Bulletin Board under the
symbols TROX.A.PK and TROX.B.PK.  As of Dec. 31, 2008, Tronox
had 19,107,367 outstanding shares of class A common stock and
22,889,431 outstanding shares of class B common stock.

On Nov. 17, 2010, the Bankruptcy Court confirmed the Debtors'
First Amended Joint Plan of Reorganization under Chapter 11 of the
Bankruptcy Code, dated November 5, 2010.  Under the Plan, Tronox
reorganized around its existing operating businesses, including
its facilities at Oklahoma City, Oklahoma; Hamilton, Mississippi;
Henderson, Nevada; Botlek, The Netherlands and Kwinana, Australia.


TUBO DE PASTEJE: Schedules Aug. 25 Plan Confirmation
----------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the bankruptcy judge on July 18 granted approval to
the disclosure statement explaining the full-payment bankruptcy
plan for Tubo de Pasteje SA de CV and subsidiary Cambridge-Lee
Holdings Inc. The hearing for approval of the plan will take place
Aug. 25.

Mr. Rochelle relates that although noteholders are to be paid in
full, they are permitted to vote on the plan because the terms of
the notes are being changed.  Holders of $200 million in 11.5%
senior notes due 2016 are to receive new secured notes for the
full amount owed plus interest.  The noteholders can vote on the
plan.  The notes last traded on July 13 at 89.5 cents on the
dollar, according to Trace, the bond-price reporting system of the
Financial Industry Regulatory Authority.

According to Mr. Rochelle, holders of $66.2 million in other
secured debt will have their obligations reinstated and thus
aren't entitled to vote.  Similarly, $41.7 million in unsecured
claims, if not already paid, will be reinstated.  They likewise
aren't voting. Existing shareholders would retain the stock.

                      About Tubo de Pasteje

Tubo de Pasteje SA and subsidiary Cambridge-Lee Holdings Inc.
filed Chapter 11 petitions (Bankr. D. Del. Case No. 09-14353) on
Dec. 7, 2009, following a Nov. 15 payment default on US$200
million in 11.5% senior notes due 2016.  Tubo and its subsidiary
sought bankruptcy protection when the 30-day grace period was
nearing its end.

Tubo is a subsidiary of Mexico City-based Industrias Unidas SA de
CV, a manufacturer of copper and electrical products.  The
U.S. subsidiary Cambridge-Lee is based in Reading, Pennsylvania.
IUSA is the issuer of the notes which were secured by a pledge of
Cambridge-Lee stock.


ULTIMATE ACQUISITION: Texas Comptroller Wants $5-Mil. Fees Denied
-----------------------------------------------------------------
Samuel Howard at Bankruptcy Law360 reports that the Texas
Comptroller of Public Accounts on Thursday urged a Delaware
bankruptcy judge to reject a $5.2 million bill submitted by the
companies that oversaw the liquidation of the Ultimate Electronics
Inc. retail chain.

Law360 relates that the comptroller said the liquidators that ran
the going-out-of-business sales at the Ultimate Electronics stores
failed to pay trust fund sales taxes.  Therefore, the bankruptcy
estate, which gained nothing through their efforts, should not pay
the millions of dollars they seek in fees and expenses, the Texas
comptroller said.

                   About Ultimate Electronics

Ultimate Acquisition Partners LP and CC Retail, LLC are specialty
retailers of high-end entertainment and consumer electronics with
46 stores in over a dozen states, primarily in the mid-west and
western United states.  Of the 46 stores, 35 are operated by UAP
and 11 are operated by CC Retail.  All are operated under the name
"Ultimate Electronics".  UAP and CC Retail have more than 1,500
full-time and part-time employees.

Ultimate Acquisition and CC Retail filed for Chapter 11 protection
(Bankr. D. Del. Lead Case No. 11-10245) on Jan. 26, 2011.
Ultimate Acquisition estimated assets and liabilities between
$100 million and $500 million.

Kathleen Campbell Davis, Esq., and Mark T. Hurford, Esq., at
Campbell & Levine LLC, in Wilmington, Del.; and Jay L. Welford,
Esq., Judith Greenstone Miller, Esq., and Jonathan C. Myers, Esq.,
at Jaffe, Raitt, Heuer & Weiss, P.C., in Southfield, Mich., serve
as the Debtor's bankruptcy counsel.  Kurtzman Carson Consultants
LLC is the claims and notice agent.

An Official Committee of Unsecured Creditors was appointed on
Feb. 9, 2011.  The Panel has hired BDO USA LLP as its financial
advisor, and Cooley LLP and Womble Carlyle Sandridge & Rice PLLC
as bankruptcy counsel.

The Company was given formal approval from the court in February
to conduct going-out-of-business sales at all 46 stores.
Controlled by Mark J. Wattles, Ultimate Acquisition decided to
liquidate when no one would provide financing for the
reorganization.

As reported in the Troubled Company Reporter on May 5, 2011,
Bill Rochelle, Bloomberg News' bankruptcy columnist, said that
Ultimate Electronics' Chapter 11 reorganization was officially
converted to a liquidation in Chapter 7, where a trustee will be
appointed to dispose of the remaining assets and make
distributions to creditors.  Conversion to Chapter 7 became the
only option when the store liquidation was completed and the
secured lender, General Electric Capital Corp., terminated the
right to use cash.


UNIGENE LABORATORIES: Owns 20% of Tarsa Therapeutics
----------------------------------------------------
Unigene Laboratories, Inc., purchased from Tarsa Therapeutics,
Inc., (i) a convertible promissory note in the original principal
amount of $1,301,142 and (ii) a warrant to purchase up to an
aggregate of 134,871 shares of Tarsa's Series A Convertible
Participating Preferred Stock.  This purchase was made pursuant to
that certain agreement, dated as of April 8, 2011, by and among
the Company, Tarsa, the three venture capital funds that formed
Tarsa and certain Tarsa executives.

In addition to the notes and warrants which the Company purchased
under the Note Agreement, including the Subsequent Closing Note
and the Subsequent Closing Warrant, the Company currently owns
9,215,000 shares of Tarsa common stock.  After the July 8, 2011,
investment, the Company owns 20% of Tarsa on a fully diluted
basis.

                           About Unigene

Unigene Laboratories, Inc. OTCBB: UGNE) -- http://www.unigene.com/
-- is a biopharmaceutical company focusing on the oral and nasal
delivery of large-market peptide drugs.

Grant Thornton LLP, in New York, expressed substantial doubt about
Unigene Laboratories' ability to continue as a going concern
following the Company's 2009 results.  The firm noted that the
Company has incurred a net loss of $13,400,000 during the year
ended Dec. 31, 2009 and has an accumulated deficit of
approximately $143,000,000 as of Dec. 31, 2009.  As of that
date, the Company's current liabilities exceeded its current
assets by $1,251,000 and its total liabilities exceeded total
assets by $30,442,000.

The Company reported a net loss of $27.86 million on $11.34
million of revenue for the year ended Dec. 31, 2010, compared with
a net loss of $13.37 million on $12.79 million of revenue during
the prior year.

The Company's balance sheet at March 31, 2011, showed $23.49
million in total assets, $69.89 million in total liabilities and a
$46.40 million total stockholders' deficit.


UNITED GILSONITE: Wants Plan Filing Extended to January 17
----------------------------------------------------------
United Gilsonite Laboratories asks the U.S. Bankruptcy Court for
the Middle District of Pennsylvania to enter an order extending
its exclusive periods to file a plan and to obtain acceptances of
that plan, through and including Jan. 17, 2012, and March 17,
2012, respectively.

The Debtor's exclusive statutory period within which to file a
plan of reorganization is set to expire on July 21, 2011, while
the Debtor's exclusive solicitation period is set to expire on
Sept. 19, 2011.  This is the first application for extension of
the Debtor's exclusivity periods.

In support of its motion, Debtor says that it has made progress
toward a resolution of its case.  Further, it has unresolved
contingencies that will impact its reorganization efforts,
including the Asbestos PI Claims that are still in their infancy.

                      About United Gilsonite

Scranton, Pennsylvania-based United Gilsonite Laboratories, a
Pennsylvania Corporation, is a small family-owned corporation
engaged in the manufacturing of wood and masonry finishing
products and paint sundries.  It filed for Chapter 11 bankruptcy
protection on March 23, 2011 (Bankr. M.D. Pa. Case No. 11-02032).
Mark B. Conlan, Esq., at Gibbons P.C., serves as the Debtor's
bankruptcy counsel.  Joseph M. Alu & Associates P.C. serves as
accountants.  K&L Gates LLP serves as special insurance counsel.
Lenahan & Dempsey, P.C., Wilbraham, Lawler & Buba, and Steptoe &
Johnson LLP serve as professionals in the ordinary course of the
Debtor's business.  Garden City Group is the claims and notice
agent.  The Company disclosed $21,084,962 in assets and $3,008,688
in liabilities as of the Chapter 11 filing.

Roberta A. DeAngelis, United States Trustee for Region 2,
appointed five creditors to serve on an Official Committee of
Unsecured Creditors of United Gilsonite Laboratories.  Montgomery,
McCracken, Walker & Rhoads, LLP, represents the Committee.


UNITED GILSONITE: Committee Seeks to Retain Legal Analysis
----------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
case of United Gilsonite Laboratories seeks approval from the U.S.
Bankruptcy Court for the Middle District of Pennsylvania to retain
Legal Analysis Systems, Inc., as its consultant on the
valuation of asbestos liabilities, nunc pro tunc to June 23, 2011.

Laurie A. Krepto, Esq., at Montgomery McCracken Walker & Rhoads,
LLP, in Philadelphia, Pennsylvania, tells the Court that Legal
Analysis has a wealth of experience in providing expert
consultation and advice regarding estimating liabilities for
present and future asbestos claims in asbestos-related
reorganization proceedings and has an excellent reputation for the
services it has rendered in other Chapter 11 asbestos-related
cases throughout the country.

Legal Analysis' services will be necessary in order to enable the
Committee to investigate, analyze and estimate the likely amount
of the asbestos claims, Ms. Krepto explains.  "A fair and accurate
valuation of the asbestos claims is necessary in order for the
Committee to participate in the administration of these cases and
the negotiation of a plan and otherwise to perform its duties in
front of the Bankruptcy Court, the District Court, and any
appellate courts."

The services that Legal Analysis has performed and will continue
to perform for the Committee include, but are not limited to:

   (a) development of oversight methods and procedures so as to
       enable the Committee to fulfill its responsibilities of
       reviewing and analyzing any proposed Disclosure Statement,
       Plan, and other similar documents in the reorganization
       proceeding;

   (b) review and analyses of the Debtor's asbestos claims
       database and review and analysis of the Debtor's
       resolution of various asbestos claims;

   (c) estimation of the Debtor's liability for asbestos claims
       that are pending at the present time as well as those that
       will be filed in the future;

   (d) quantitative analyses of alternative claims resolution
       procedures including estimation of payments that would be
       made to various types of claims under those alternatives
       and development of cash flow analysis of an asbestos
       compensation trust under alternative procedures;

   (e) evaluation of reports and opinions of experts and
       consultants retained by other parties to these bankruptcy
       proceedings;

   (f) evaluations and analyses of proposed proofs of claims and
       bar dates and analyses of data from proofs of claim for
       asbestos claims;

   (g) quantitative analyses of other matters related to the
       asbestos claims as may be requested by the Committee; and

   (h) testimony on these matters as is required by the
       Committee.

In exchange for its services, Legal Analysis will be paid these
rates and will be reimbursed for all reasonable out-of-pocket
expenses:

     Mark A. Peterson                         $800
     Daniel Relies (Statistician)             $475

Dr. Peterson has extensive experience in providing asbestos claims
analysis services in bankruptcy and litigation matters.
Other professionals at Legal Analysis may also perform services
for the Committee.

Legal Analysis' principal, Mark A. Peterson, Ph.D., assures the
Court that his firm is a "disinterested parties" within the
meaning of Section 101(14) and 328(c) of the Bankruptcy Code and
holds no interest adverse to the Committee or the Debtor's
asbestos creditors on the matters for which they are to be
employed.

                     About United Gilsonite

Scranton, Pennsylvania-based United Gilsonite Laboratories, a
Pennsylvania Corporation, is a small family-owned corporation
engaged in the manufacturing of wood and masonry finishing
products and paint sundries.  It filed for Chapter 11 bankruptcy
protection on March 23, 2011 (Bankr. M.D. Pa. Case No. 11-02032).
Mark B. Conlan, Esq., at Gibbons P.C., serves as the Debtor's
bankruptcy counsel.  Joseph M. Alu & Associates P.C. serves as
accountants.  K&L Gates LLP serves as special insurance counsel.
Lenahan & Dempsey, P.C., Wilbraham, Lawler & Buba, and Steptoe &
Johnson LLP serve as professionals in the ordinary course of the
Debtor's business.  Garden City Group is the claims and notice
agent.  The Company disclosed $21,084,962 in assets and $3,008,688
in liabilities as of the Chapter 11 filing.

Roberta A. DeAngelis, United States Trustee for Region 2,
appointed five creditors to serve on an Official Committee of
Unsecured Creditors of United Gilsonite Laboratories.  Montgomery,
McCracken, Walker & Rhoads, LLP, represents the Committee.


US COAL: S&P Assigns Preliminary 'B' Corporate Credit Rating
------------------------------------------------------------
Standard & Poor's Ratings Services assigned its preliminary 'B'
corporate credit rating to Lexington, Ky.-based U.S. Coal Corp.
The rating outlook is stable.

At the same time, Standard & Poor's assigned a preliminary 'B+'
(one notch above the corporate credit rating) issue-level rating
to the company's proposed $105 million senior secured term loan
due 2017. The preliminary recovery rating is '2', indicating the
expectation of substantial (70%-90%) recovery for lenders in the
event of a payment default.

U.S. Coal Corp. plans to use proceeds from the proposed term loan
to refinance substantially all existing debt and to expand its
production capabilities, among other general corporate purposes.

The preliminary 'B' corporate credit rating reflects the
combination of what Standard & Poor's considers to be its
vulnerable business risk profile and aggressive financial risk
profile. "We also factor in its relatively small size, lack of
geographic diversity, high customer concentration, and the
challenges posed by the inherent risks of coal mining," said
Standard & Poor's credit analyst Maurice Austin.

Standard & Poor's expects operating performance to improve in 2011
with higher coal production, as a result of additional mining
permits and contracted sale prices currently priced greater than
market rates.

U.S. Coal Corp. is a small coal company, producing about 2 million
tons annually (less than 1% of the U.S. coal market). U.S. Coal
currently owns and operates six mines with approximately 65
million tons of reserves and a reserve life of about 35 years at
the current rate of production. Its mines serve areas with the
highest concentration of coal-fired generation.

"We would consider a negative rating action if the company's
credit measures weaken materially amid lower coal production
during the next several quarters," Mr. Austin said. "A positive
rating action is less likely in the near term given the company's
limited size and lack of geographic diversity, which factor into
our assessment of its vulnerable business risk profile."


U.S. CORP: Involuntary Chapter 11 Case Dismissed
------------------------------------------------
The Hon. Eileen W. Hollowell of the U.S. Bankruptcy Court for the
District of Arizona dismissed the Involuntary Chapter 11 case of
U.S. Corp., and its federal state of Arizona, employees, agents,
instrumentalities.

The Court also ordered that all proofs of claims filed in the case
are deemed disallowed.

Federal National Mortgage Association and Tiffany & Bosco, P.A.,
moves the Court to dismiss the involuntary petition filed by
Marshall E. Home, and the joining petitioner.

FNMA and Tiffany & Bosco further request that the case be remanded
to Pima County state court where it belongs.  FNMA and Tiffany &
Bosco also requested that they be awarded attorney's fees, costs,
and compensatory and punitive damages against the Petitioning
Creditors for defending what is unequivocally an improper and bad
faith involuntary petition filing.

FNMA and Tiffany & Bosco are represented by:

         Leonard J. McDonald, Esq.
         J. Daryl Dorsey, Esq.
         THIRD FLOOR CAMELBACK ESPLANADE II
         2525 East Camelback Road
         Phoenix, AZ 85016b4237
         Tel: (602) 255-6000
         Fax: (602) 255-0103

                         About U.S. Corp.

Marshall E. Home, on his own behalf as well as on behalf of some
66 other petitioning creditors, including M & E Home, Jerald J.
Gustafson and James P. Moreno, filed an involuntary Chapter 11
petition (Bankr. D. Ariz. Case No. 11-06731) on March 16, 2011,
against Tucson, Arizona-based "U.S. Corp." and "its federal state
of Arizona, employees, agents, instrumentalities."



VITARIS REHABILITATION: Files for Chapter 11 to Sell Business
-------------------------------------------------------------
Vitaris Rehabilitation LLC and its affiliates have sought
bankruptcy protection (Bankr. E.D.N.Y. Lead Case No. 11-74988) to
facilitate an orderly liquidation of their assets as a going
concern through a Chapter 11 plan of liquidation.

Vitaris owns, manages and operates eight outpatient physical
therapy clinics in Nassau and Suffolk Counties and New York City
that are professionally staffed by New York Physical and
Occupational Therapy, PLLC.

Ziegler Healthcare Fund I, LP, a mezzanine capital fund, is the
sole equity holder of the Debtors.  Ziegler bought the business
following a foreclosure of New York Outpatient Management
Services, LLC, in 2008.

Since the acquisition in 2008, ZHF has funded $816,000 in
operating losses at Vitaris and NYPT.  The revised 2011 and 2012
budget projects that ZHF will have to fund an additional $600,000
to $1,000,000 to cover operating losses assuming visists
stabilize.

ZHF has already made $5.3 million in investments in Vitaris.

During the Chapter 11 case, Vitaris expects the business to
continue while it investigates all of its options, including a
potential sale of the business to either the existing physical
therapists or to an outside buyer.

ZHF believes it will reap the benefit of selling its collateral
quickly as a going concern rather than in a fire sale of
courthouse steps liquidation.


WASHINGTON MUTUAL: Aurelius Defends Own Protocol at Confirmation
----------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the Washington Mutual Inc. confirmation hearing on
July 18 included testimony about efforts taken by Aurelius Capital
Management LP, including the installation of a soundproof office,
so the firm's traders couldn't know about negotiations on a
reorganization plan.  The testimony was intended to rebut
allegations by shareholders that Aurelius and other creditors
traded in WaMu securities using non-public information.

Mr. Rochelle relates that the confirmation hearing is scheduled to
continue through July 21.  After a settlement fell through,
shareholders are to receive nothing under the current iteration of
the Chapter 11 plan and are opposing confirmation.  The bankruptcy
court already approved the settlement underlying the plan.

                   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.


WATERSCAPE RESORT: Clears Way to Exit from Bankruptcy
-----------------------------------------------------
Richard Vanderford at Bankruptcy Law360 reports that Waterscape
Resort LLC on Tuesday cleared a major stumbling block in its bid
to emerge from bankruptcy, negotiating a way to resolve disputes
with the hotel's builders.

A deal hashed out over the tables in U.S. Bankruptcy Judge Stuart
Bernstein's Manhattan courtroom will largely preserve the right to
a quasi-arbitration process that the contractors would have had
access to if Waterscape Resort had not filed for bankruptcy,
according to Law360.

                      About Waterscape Resort

Waterscape Resort LLC, aka Cassa NY Hotel And Residences, is a
Delaware limited liability company formed on or about Jan. 24,
2005.  The principal office of the Debtor is at 15 West 34th
Street, New York, New York 10001.  On July 19, 2005, Waterscape
acquired the property, consisting of the three contiguous
buildings at 66, 68 and 70 West 45th Street in Manhattan, for the
sum of $20 million to develop the property into a 45-storey
condominium project including a luxury hotel, a restaurant and
luxury residential apartments.  The purchase was financed with a
$17 million acquisition loan and mortgage from U.S. Bank
Association.

Construction of the hotel and residential units, given the name
Cassa NY Hotel and Residences, commenced in July 2007.  By the end
of September 2010, the hotel and residential units were completed.
The Debtor generates its revenue from guests who stay at the hotel
and in the Debtor's residential condominium units, and from sales
of unsold residential condominium units.  The Debtor's hotel and
rental business has produced gross revenues of approximately
$17 million to $18 million on an annual basis, and by the end of
September 2010, the Debtor had sold five residential apartment
units for a total of approximately $12,710,340.

The Debtor's Cassa NY Hotel and Residences features 165 hotel
rooms, and above the hotel units, 57 residences.  The Debtor's
restaurant will occupy the first level below ground, but will be
visible from the ground floor hotel lobby.  The Debtor's
restaurant is not yet open for business.

The Debtor has for several months been embroiled in litigation
with numerous contractors and subcontractors who have asserted
alleged mechanics lien claims against the Property totaling
approximately $20 million.

As of the Petition Date, the Debtor had outstanding approximately
$134.4 million of secured loan principal obligations under credit
facilities with US Bank and USB Capital Resources, Inc.  The debt
is secured by liens upon all of the assets of the Debtor,
including mortgages on the Debtor's real property, together with
liens on all rents, proceeds and cash of the Debtor, pledges of
member interests in Waterscape, and guarantees by Waterscape
members and other third-party grantors.  The Debtor's secured debt
was incurred under three separate agreements for: (i) an
acquisition and project loan; (ii) a construction loan; and (iii)
a mezzanine loan; each of which was made in connection with the
acquisition or development of the Debtor's property.

Over the last several months, the Debtor engaged in extensive
negotiations with the Secured Lenders regarding the parameters of
a comprehensive restructuring.  The Debtor also engaged in
extensive marketing efforts and negotiations to sell its hotel
assets to a non-insider buyer.  The restructuring discussions
between the Debtor and the Secured Lenders reached an impasse, and
on March 21, 2011, UBS, the junior of the two Secured Lenders,
filed a foreclosure action against the Debtor in the Supreme Court
of the State of New York, County of New York.

The Debtor then filed for Chapter 11 bankruptcy protection (Bankr.
S.D.N.Y. Case No. 11-11593) on April 5, 2011.  Brett D. Goodman,
Esq., and Lee William Stremba, Esq., at Troutman Sanders LLP
represent the Debtor as Bankruptcy Counsel.  Holland & Knight LLP
serves as its special litigation counsel.  The Debtor disclosed
$214,285,027 in assets and $158,756,481 in liabilities as of the
Chapter 11 filing.


WOODS CANYON: Sec. 341 Creditors' Meeting Set for Aug. 18
---------------------------------------------------------
The United States Trustee for the Central District of California
will convene a Meeting of Creditors pursuant to Sec. 341(a) of the
Bankruptcy Code in the chapter 11 case of Woods Canyon Associates
L.P., on Aug. 18, 2011, at 2:30 p.m. at STE 300, 3685 Main St., in
Riverside, California.

Woods Canyon Associates L.P., based in Temecula, California, filed
for Chapter 11 bankruptcy (Bankr. C.D. Calif. Case No. 11-32418)
on July 11, 2011.  Krikor J. Meshefejian, Esq., at Levene, Neale,
Bender, Yoo & Brill LLP, serves as the Debtor's bankruptcy
counsel.  In its petition, the Debtor estimated assets of $10
million to $50 million, and debts of $1 million to $10 million.
The petition was signed by Paul Garrett, president/sole
shareholder of Woods Canyon's general partner.

Three affiliates Diaz Road Properties, LLC (Bankr. C.D. Calif.
Case No. 11-28473); RCI Redbird, LLC (Bankr. C.D. Calif. Case No.
11-28479); and RCI Rio Nedo, LLC (Bankr. C.D. Calif. Case No.
11-28470) filed separate Chapter 11 petitions on June 6, 2011.
Affiliate RCI Regional Grove, LLC (Bankr. C.D. Calif. Case No.
11-22055) filed on April 12, 2011.

Judge Deborah J. Saltzman was originally assigned to Woods
Canyon's case, but was later replaced by Judge Scott C. Clarkson,
who handled the affiliates' cases.  


* Bill Aims to Stop NY and Del. Hosting Most Corporate Filings
--------------------------------------------------------------
Delaware and New York could no longer play host to most of the
country's major corporate reorganizations if a bill becomes law
that was co-sponsored in the House of Representatives last week by
Lamar Smith, the Republican Chairman of the House Judiciary
Committee, and by John Conyers Jr., the Judiciary Committee's
ranking Democrat, Bill Rochelle, the bankruptcy columnist for
Bloomberg News, reports.

According to Bloomberg, H.R. 2533 -- entitled the "Chapter 11
Bankruptcy Venue Reform Act of 2011" -- would permit "a
corporation" to file under Chapter 11 only where it has its
principal assets or principal place of business.  Current law
allows companies to file where they are incorporated.
Consequently, companies organized under the laws of Delaware or
New York can file in those states even if they have no assets or
operations there.

Mr. Rochelle relates that Rep. Smith, from Texas, said the bill
would "prevent corporations from fleeing to friendly jurisdictions
for bankruptcy, while leaving employees, creditors and other
stakeholders without a voice in the negotiations."  Rep. Conyers
from Michigan says that existing law allows "the very same
management that drove the business into financial distress to
retain control of the business by choosing to file the Chapter 11
bankruptcy case in a management-friendly venue."

Currently, companies use a loophole in venue law to file large
companies' reorganizations in New York.  Using a process made
famous by Eastern Airlines, a tiny subsidiary with an office in
Manhattan can file its Chapter 11 petition first.  Then, the
parent company and perhaps dozens of affiliates, who may be
located thousands of miles away, can file in New York as
affiliates.

The proposed law would allow a company to file in the same
district with an affiliate only if the affiliate owns more than
half the voting stock.

Previous efforts to change bankruptcy venue rules died in the
Senate, faced with opposing including from Vice President Joe
Biden, then a senator from Delaware.

According to the Beard Group Corporate Restructuring Review for
June 2011, 40 companies with assets of at least $100 million filed
for Chapter 11 bankruptcy during the first half of 2011.  Of those
cases, 22 were filed in Delaware and seven went to the Southern
District of New York.  An audio recording of the Review is
available at http://bankrupt.com/restructuringreview/ A copy of
the script is available at http://is.gd/azRVvg


* Bankruptcy Code Unclear for Financial Companies, GAO Says
-----------------------------------------------------------
Carolina Bolado at Bankruptcy Law360 reports that the U.S.
Government Accountability Office on Tuesday reported that the
Bankruptcy Code's effectiveness in resolving failed complex
financial institutions was unclear due to a lack of evaluation
criteria and the complicated nature of the companies' bankruptcy
proceedings.

The GAO said criteria for judging the effectiveness of the code
are not well-developed and the activities and structures of these
large financial institutions complicate bankruptcy proceedings,
according to Law360.


* Professor Says Vitro SAB Setting "Ugly Precedent"
---------------------------------------------------
Vitro SAB is trying to set a "potentially ugly precedent," Arturo
Porzecanski said about the Mexican glassmaker's attempt to have a
reorganization crammed down on holders of $1.2 billion in
defaulted bonds by using $1.9 billion in newly created
intercompany debt to vote in favor of the restructuring, according
to Bill Rochelle, the bankruptcy columnist for Bloomberg News.

Mr. Porzecanski, a professor of international economic policy at
American University in Washington, said in a paper in April that
success by Vitro using insider votes to push through a bankruptcy
reorganization on unwilling bondholders means the risk premium
"will rise for all Mexican companies."

The Chapter 11 cases for U.S. subsidiaries is In re Vitro
Asset Corp., 11-32600, U.S. Bankruptcy Court, Northern District
of Texas (Dallas). The Chapter 15 case for the parent is Vitro
SAB de CV, 11-33335, in the same court.


* Liquidity Stress on Junk Companies Declined in June
-----------------------------------------------------
Despite numerous potential pitfalls looming over the global
economy, corporate America appears to have the capacity to manage
near-term hurdles, according to the July edition of Moody's
Speculative-Grade Liquidity (SGL) Monitor.

"Perhaps because of the uncertainties related to European
sovereign debt, the fallout from the U.S. housing slump,
incremental regulations and a federal debt-ceiling showdown, U.S.
companies have been stockpiling liquidity," said John Puchalla,
Moody's vice president and senior credit officer.  "In some
sectors, companies have increased layoffs and furloughs to protect
earnings and cash flow in the event economic conditions weaken
further."

The large amount of debt coming due in the next three to five
years is also prompting caution among speculative-grade companies,
according to the report.  However, refinancing activity has slowed
dramatically in the last few months as issuers look for calmer
credit markets.  This poses risk to liquidity down the road if the
hoped-for improvement in market conditions does not materialize
and economic conditions worsen.  Recent issuance is restricted
largely to companies requiring funding for mergers and
acquisitions and leveraged buyouts.

Moody's Liquidity Stress Index (LSI) dropped to a record low 3.9%
in June, while Moody's Covenant Stress Index (CSI) decreased to
2.1%, the lowest level since June 2005.  The LSI measures the
percentage of companies with SGL-4 ratings and declines when
liquidity improves.  The CSI index measures the extent to which
speculative-grade companies are at risk of violating debt
covenants and decreases when covenant cushion appears to increase.

Moody's projects the speculative-grade default rate will fall to
1.6% in the U.S. by the end of 2011.  The U.S. rate had declined
to 2.6% during the second quarter from 2.9% during the first
quarter.


* New Orleans Tops List of Cities With Most Closed Businesses
-------------------------------------------------------------
Dow Jones' DBR Small Cap reports that when it comes to retaining
small businesses, some cities have more trouble than others,
according to a recent study on business closures in metro areas
across the country.


* Possible Conflicts Bar Some Law Firms From Mortgage Reviews
-------------------------------------------------------------
Dow Jones' DBR Small Cap reports that U.S. regulators are barring
certain law firms from assisting in ferreting out foreclosure
abuses, citing their perceived coziness with the mortgage-
servicing industry, people familiar with the situation said.


* Adrian Harris Joins Brown Rudnick's European Office as Partner
----------------------------------------------------------------
Brown Rudnick on July 14 announced that Adrian Harris has joined
the Firm's London office as a Partner in the European Bankruptcy &
Corporate Restructuring Group.  Mr. Harris brings experience in
insolvency and debt capital markets, and acts for US, UK and
European investors in the distressed asset class.  Prior to
joining Brown Rudnick, Mr. Harris was a partner at Chadbourne &
Parke LLP.

Across continental Europe and the United Kingdom, Mr. Harris
represents creditors in complex cross-border insolvency and
financial restructuring engagements.  He acts for a variety of US
and European financial institutions, including hedge funds, mutual
funds and investment banks, and also international accounting
firms on many wide ranging issues relating to debtors in various
stages of financial distress.  His practice also encompasses
financial restructuring in emerging markets, particularly Turkey.

Commenting on the recent hire, Brown Rudnick's CEO Joseph F. Ryan
said, "Adrian's practice is recognized as a robust, focused
insolvency and restructuring practice which deals with complex and
difficult situations for clients.  Adrian's addition to our London
office will offer even greater depth to our insolvency expertise
and will reinforce our UK insolvency team as a top tier practice
in the UK.  In addition, Adrian's practice will complement the
work of our European Litigation Practice."

Brown Rudnick acts internationally for a vast array of well known
hedge funds based in the US and UK.  The Firm advises investors
and funds internationally on matters involving fund formation,
governance, investor relations, investment and financing
activities, and offensive/defensive litigation.  Brown Rudnick is
also globally recognized for its representation of funds investors
in structuring, negotiating and documenting claims trades and as
members of ad hoc and official committees, in realizing maximum
value from distressed securities in many of the largest and most
complex Chapter 11 or European insolvency cases as well as out-of-
court restructurings.


Mr. Harris is the third new partner to join Brown Rudnick's London
office since June 2011, with several more hires anticipated by the
fall.  Nick Terras and Massimo Galli joined the Firm's corporate
practice in the London office, further expanding the Firm's
international reach.  With a reputation as a funds "heavyweight,"
Mr. Terras has deep experience with investment funds, including
hedge, private equity/hedge hybrid and funds both in the
unregulated and regulated fund area and related derivatives,
structured finance products.  Mr. Galli brings a complementary,
robust cross border M&A and capital markets practice with
particular strength in the Italian market and significant
experience in the Emerging Markets.

               About Brown Rudnick's London Office

Brown Rudnick opened its London office in 1998 to support a
rapidly growing international practice.  Initially, the London
office focused on expanding its strong US technology and venture
capital practice by representing European tech companies and their
investors.  Today, Brown Rudnick has an internationally recognized
European Venture Capital and Emerging Growth Practice, with such
notable clients as Index Ventures, Mangrove Capital Partners,
Atlas Venture, Amadeus Capital Partners, and Environmental
Technology Fund LP, among others.  Brown Rudnick also has a strong
cross-border M&A practice, having represented numerous companies
on public transactions.  And, over the last decade, the London
office has expanded to include Bankruptcy & Corporate
Restructuring, International Litigation & Arbitration,
Intellectual Property, Tax and Finance.  Lawyers in the firm's
London office work closely with the firm's US offices to serve
European and other international clients seeking to expand their
businesses across international borders.

                     About Brown Rudnick LLP

Brown Rudnick -- http://www.brownrudnick.com-- is an AmLaw 200
firm with offices in the United States and Europe.  With
relentless focus on the client's objectives, the Firm represents
clients from around the world in high stakes litigation and
business transactions.  The firm's clients include public and
private corporations, multinational Fortune 100 businesses and
start-up enterprises.  It also represents investors, as well as
official and ad hoc creditors committees in today's largest
corporate restructurings, both domestically and abroad.  The Brown
Rudnick Center for the Public interest is an innovative model
combining the Firm's pro bono, charitable giving and community
volunteer efforts.


* Bostrom to Co-Head SNR's Fin'l Institutions & Funds Sector
------------------------------------------------------------
In the latest growth move for its global capital markets,
government investigations and regulatory platform, SNR Denton on
July 14 announced that Robert Bostrom, executive vice president,
general counsel and corporate secretary of Freddie Mac, is joining
the firm as partner and co-head of its global Financial
Institutions and Funds sector.  Mr. Bostrom joined Freddie Mac in
2006 and directed its legal strategy through the financial crisis
and recovery.  He is scheduled to join the firm in mid-August.

Mr. Bostrom is one of the premier banking lawyers in the US,
especially in the areas of risk management and compliance,
regulatory affairs, litigation, and internal and government
investigations.  His decision to join SNR Denton follows the rapid
expansion of the firm's capital markets, financial services and
regulatory practices.  Mr. Bostrom previously had served as
executive vice president for legal, compliance and regulatory
affairs at National Westminster Bancorp, which during his tenure
controlled one of the 25 largest banks in the US.  In addition to
managing litigation and regulatory matters, he helped structure
NatWest's sale to Fleet Financial Group in 1996 for $3.6 billion.
Prior to Freddie Mac, he spent nine years as head of the Financial
Institutions Practice at Winston & Strawn, where he also served as
managing partner of the New York office and a member of its
executive committee.  Earlier in his career, he was a lawyer with
the Federal Reserve Bank of New York.

"The arrival of Bob Bostrom is a milestone for our Financial
Institutions and Funds sector and validation of the strategy we
have set out as a new global law firm," said SNR Denton Global
Chief Executive Elliott Portnoy.  "Bob has worked at the highest
levels of leadership in the banking sector, in private legal
practice and inside a government-sponsored corporation during a
period that gave rise to unprecedented business, legal and
reputational challenges.

"Bob is among an elite group of general counsel who have played a
pivotal role in navigating a gauntlet of investigations,
enforcement actions and litigation during the financial crisis,"
Mr. Portnoy added.  "We are delighted that our clients worldwide
will benefit immediately from his crisis and risk management
experience and corporate governance talents."

Mr. Bostrom counseled Freddie Mac's board of directors and senior
management through the appointment of a conservator and advised on
the creation of a new corporate governance structure.  He oversaw
Freddie Mac's response to numerous inquiries and investigations
initiated by Congressional committees, the US Securities and
Exchange Commission and other federal regulators, as well as to
securities class and derivative actions.  Mr. Bostrom also advised
on implementing a critical $100 billion senior preferred stock
purchase agreement with the US Department of the Treasury.

The National Law Journal recently selected Mr. Bostrom among
Washington's most influential in-house counsel.  Corporate Counsel
magazine recognized Freddie Mac, under Mr. Bostrom's leadership,
among the Best Legal Departments of 2011.  Mr. Bostrom has also
become one of the most sought-after speakers on best practices in
corporate compliance and governance issues.  Among a long
checklist of honors, he chaired the Association of Corporate
Counsel's 2010 Chief Legal Officer Think Tank, addressing the
topic: "Navigating Your Client through Multiple Congressional,
Government and Civil Proceedings."  Mr. Bostrom also participated
in the 2010 Corporate Board Member General Counsel Forum held at
the New York Stock Exchange addressing the topic: "When Government
Agencies Come Knocking: Mitigating Risks for Investigations."

"I am very proud of what we accomplished at Freddie Mac, but felt
this was a good time to transition back into private practice and
client service, which remain great passions," Mr. Bostrom said,
adding: "SNR Denton has built one of the most complete, 360-degree
legal practices within the financial services arena.  Top tier in
securitizations and other capital markets transactions, the firm
is a recognized leader in government affairs, public policy and
congressional investigations, financial institutions regulation
and compliance, real estate finance and mortgage securitization
and servicing, litigation and government investigations, state
Attorney General actions, as well as civil and criminal defense
work.  The firm is operating right at the nexus where financial
markets meet regulation and enforcement, making it a perfect spot
for me to provide counsel.  I am looking forward to contributing
my talents and experience in furthering SNR Denton's leadership
within the financial community."

At SNR Denton, Mr. Bostrom will share leadership of the global
Financial Institutions and Funds sector with partner Jana Cohen
Barbe, and by extension will lend his experience to the firm's
Financial Regulatory Reform special situations team which helps
clients navigate the sweeping changes required by the Dodd-Frank
Wall Street Reform and Consumer Protection Act.  "Bob's arrival
reflects our growing prominence at the juncture between capital
markets, banking and financial regulation."  Mr. Bostrom also will
help lead the firm's multidisciplinary corporate governance crisis
management team, which draws together the talents of the firm's
white collar, internal and governmental investigations, public
policy, capital markets, SEC enforcement, corporate governance,
and state Attorneys General lawyers and professionals.  SNR
Denton's unique presence in Washington, D.C., New York, London and
other financial centers enables it to offer these capabilities on
an international level.

Mr. Bostrom complements a group of more than 60 new partners,
principals and senior advisors who have joined SNR Denton
worldwide since the combination that created the firm nine months
ago.  Among recent additions are former five-term US Congressman
and former Assistant United States Attorney Artur Davis, former
Florida Attorney General Bill McCollum, and former Indiana
Attorney General Jeff Modisett, each of whom, along with other
partners and professionals joining, offer clients crisis
management and investigations expertise in matters of the highest
profile worldwide.

Mr. Bostrom received his J.D. in 1980 from Boston College Law
School.  He holds a Master's Degree in International Affairs from
Columbia University and had enrolled in its Ph.D. program before
attending law school.  He received his B.A. in History in 1974
from Franklin & Marshall College.

                         About SNR Denton

SNR Denton -- http://snrdenton.com-- is a client-focused
international legal practice delivering quality and value.  The
firm serves clients in key business and financial centers from
more than 60 locations in 43 countries, through offices, associate
firms and special alliances across the US, the UK, Europe, the
Middle East, Russia and the CIS, Asia Pacific and Africa, making
us a top 25 legal services provider by lawyers and professionals
worldwide.  Joining the complementary top tier practices of its
founding firms -- Sonnenschein Nath & Rosenthal LLP and Denton
Wilde Sapte LLP -- SNR Denton offers business, government and
institutional clients premier service and a disciplined focus to
meet evolving needs in eight key industry sectors: Energy,
Transport and Infrastructure; Financial Institutions and Funds;
Government; Health and Life Sciences; Insurance; Manufacturing;
Real Estate, Retail and Hotels; and Technology, Media and
Telecommunications.


* Gary Talarico Joins Gordon Brothers Group as President and CEO
----------------------------------------------------------------
Gordon Brothers Group, a global advisory, restructuring and
investment firm specializing in the retail, consumer products,
industrial and real estate sectors, disclosed that Gary M.
Talarico joined the firm as President & Chief Executive Officer
reporting to the Board of Directors. Michael Frieze will assume
the role of Chairman, Board of Directors.  Mr. Talarico will lead
the continued growth of Gordon Brothers Group's global platform of
integrated operating and capital solutions designed to maximize
value for operating companies, lenders and investors.

Mr. Talarico brings over 25 years of broad experience in
investment banking and private investments both domestically and
abroad. Prior to joining Gordon Brothers Group, he was Managing
Partner of Cora Street Partners, an advisory boutique.  From 2004
to 2009, Mr. Talarico was a Managing Director of Sun Capital
Partners, responsible for building and managing the New York and
Tokyo offices of that firm.  Prior to joining Sun Capital, Mr.
Talarico spent five years in Tokyo as a Managing Director of the
Deutsche Bank Group and Head of Global Corporate Finance in Japan,
with management responsibilities that included M&A, Equity Capital
Markets, Industry Groups, Real Estate and Private Equity.  Mr.
Talarico began his career in investment banking in 1983 when he
joined Lehman Brothers Kuhn Loeb.  Mr. Talarico spent nearly 15
years with Lehman Brothers where his last position was Managing
Director in the Financial Services Group with responsibility for
major banks and finance companies in the U.S.

"We look forward to having Gary join our leadership team. His
invaluable experience as an investment banker coupled with his
international expertise and overall business acumen will enable
him to take over the daily management, growth and integration of
our various divisions and affiliates," stated Michael Frieze.  "In
particular, Gary has an impressive record of successfully building
businesses, including the recruitment and retention of top talent,
which will help us strengthen our current business portfolio and
expand into new areas that complement our businesses and provide
additional services to our clients and transaction partners."

Mr. Talarico added, "Gordon Brothers Group has an excellent
reputation for facilitating change by providing advice and capital
to their clients and partners.  The firm's unique knowledge and
experience as trusted advisors, operators and capital providers
help companies and investors achieve better results and better
outcomes.  Whether the opportunity is in North America, Europe or
Asia, or whether it involves advisory services, lending money to
people, strategically disposing of assets, mitigating exposure on
liabilities or investing with partners, Gordon Brothers helps
clients and transaction partners manage change-and we do it
extremely well and with unparalleled integrity.  I look forward to
working with Michael, the Board of Directors and the talented
professionals of Gordon Brothers Group to expand the success that
Michael and his team have achieved over the years."

Mr. Talarico holds an MA in International Relations from the
School of Advanced International Studies of Johns Hopkins
University (SAIS), and a BS in Sociology and MS in Political
Science from Illinois State University.  He currently serves as a
board member of the Japan Society and on the Advisory Board of the
SAIS. He is based out of Gordon Brothers Group's global
headquarters in Boston, MA.

                    About Gordon Brothers Group

Founded in 1903, Gordon Brothers Group --
http://www.gordonbrothers.com/-- is a global advisory,
restructuring and investment firm specializing in the retail,
consumer products, industrial and real estate sectors. Gordon
Brothers Group maximizes value for both healthy and distressed
companies by purchasing or selling all categories of assets,
appraising assets, providing debt and equity financing, and
operating businesses for extended periods. Gordon Brothers Group
conducts over $50 billion worth of transactions and appraisals
annually.


* Recent Small-Dollar & Individual Chapter 11 Filings
-----------------------------------------------------

In Re The Martha Reynolds Trust
   Bankr. D. Alaska Case No. 11-00535
      Chapter 11 Petition filed July 13, 2011
         filed pro se

In Re Lowell Foletta
   Bankr. D. Ariz. Case No. 11-20057
      Chapter 11 Petition filed July 13, 2011

In Re William Orta
   Bankr. D. Ariz. Case No. 11-20120
      Chapter 11 Petition filed July 13, 2011

In Re Carlos Gutierrez
   Bankr. S.D. Calif. Case No. 11-11603
      Chapter 11 Petition filed July 13, 2011

In Re Nathanial Rice
      Sandra Rice
   Bankr. D. Conn. Case No. 11-51430
      Chapter 11 Petition filed July 13, 2011

In Re Kent Burnside
   Bankr. M.D. Fla. Case No. 11-13279
      Chapter 11 Petition filed July 13, 2011

In Re Darrell Taylor
   Bankr. S.D. Ga. Case No. 11-11347
      Chapter 11 Petition filed July 13, 2011

In Re Darrell Shane Taylor
        dba Taylor-Made Septic Tanks & Concrete, LLC
   Bankr. S.D. Ga. Case No. 11-11347
      Chapter 11 Petition filed July 13, 2011
         See http://bankrupt.com/misc/gasb11-11347.pdf

In Re Patricia Carey
   Bankr. D. Mass. Case No. 11-16641
      Chapter 11 Petition filed July 13, 2011

In Re Pattens Hollow Cafe, Inc.
   Bankr. D. Mass. Case No. 11-16643
      Chapter 11 Petition filed July 13, 2011
         See http://bankrupt.com/misc/mab11-16643.pdf

In Re Capital City Liquidators, Inc.
   Bankr. D. Nev. Case No. 11-52270
      Chapter 11 Petition filed July 13, 2011
         See http://bankrupt.com/misc/nvb11-52270.pdf

In Re Rolando Guzman
   Bankr. D. Nev. Case No. 11-21071
      Chapter 11 Petition filed July 13, 2011

In Re Charles Anteby
   Bankr. E.D. N.Y. Case No. 11-46055
      Chapter 11 Petition filed July 13, 2011

In Re Lilias Morrison
   Bankr. E.D. N.C. Case No. 11-05368
      Chapter 11 Petition filed July 13, 2011

In Re Puspaw Inc.
   Bankr. E.D. N.Y. Case No. 11-46063
      Chapter 11 Petition filed July 13, 2011
         filed pro se

In Re Jennifer Frost
   Bankr. E.D. N.C. Case No. 11-05371
      Chapter 11 Petition filed July 13, 2011

In Re Star Cold Storage
   Bankr. D. Puerto Rico Case No. 11-05930
      Chapter 11 Petition filed July 13, 2011
         See http://bankrupt.com/misc/prb11-05930.pdf

In Re Manier Isho
   Bankr. D. Utah Case No. 11-30284
      Chapter 11 Petition filed July 13, 2011

In Re Lucy Lopez
   Bankr. D. Ariz. Case No. 11-20237
      Chapter 11 Petition filed July 14, 2011

In Re Larry Torres
   Bankr. C.D. Calif. Case No. 11-32830
      Chapter 11 Petition filed July 14, 2011

In Re Amparo Ayala
   Bankr. N.D. Calif. Case No. 11-56561
      Chapter 11 Petition filed July 14, 2011

In Re Margaret Pham
   Bankr. N.D. Calif. Case No. 11-56584
      Chapter 11 Petition filed July 14, 2011

In Re Blarney, Inc.
        dba Beach House
   Bankr. M.D. Fla. Case No. 11-05169
      Chapter 11 Petition filed July 14, 2011
         See http://bankrupt.com/misc/flmb11-05169.pdf

In Re Peter Carey
   Bankr. M.D. Fla. Case No. 11-13414
      Chapter 11 Petition filed July 14, 2011

In Re Meridian Quality Water Service, Inc.
        dba Kinetico Quality Water Sysems of Treasure Valley
   Bankr. D. Idaho Case No. 11-02157
      Chapter 11 Petition filed July 14, 2011
         See http://bankrupt.com/misc/idb11-02157.pdf

In Re David Gregory
   Bankr. N.D. Ill. Case No. 11-28898
      Chapter 11 Petition filed July 14, 2011

In Re Pro Waste Systems, LLC
   Bankr. S.D. Ind. Case No. 11-08896
      Chapter 11 Petition filed July 14, 2011
         See http://bankrupt.com/misc/insb11-08896.pdf

In Re Veracity Financial Group, LLC
   Bankr. S.D. Iowa Case No. 11-02843
      Chapter 11 Petition filed July 14, 2011
         filed pro se

In Re Luke Chiotelis
   Bankr. D. Mass. Case No. 11-16686
      Chapter 11 Petition filed July 14, 2011

In Re Care Temp Heating and Air Conditioning LLC
        dba Care Temp HVAC LLC
   Bankr. D. N.J. Case No. 11-31064
      Chapter 11 Petition filed July 14, 2011
         See http://bankrupt.com/misc/njb11-31064.pdf

In Re Modern Restaurant Corp.
        dba Osteria La Fiamma
        dba Trattoria Fratelli
   Bankr. D. N.J. Case No. 11-31068
      Chapter 11 Petition filed July 14, 2011
         See http://bankrupt.com/misc/njb11-31068.pdf

In Re Party Shops Plus, Inc.
        dba Rojay Party Superstore
        dba Holiday Party Plus
        dba Halloween Party Plus
        dba Party Party Plus
   Bankr. S.D. N.Y. Case No. 11-23393
      Chapter 11 Petition filed July 14, 2011
         See http://bankrupt.com/misc/nysb11-23393.pdf

In Re Benjamin Josefoski
   Bankr. W.D. Pa. Case No. 11-24430
      Chapter 11 Petition filed July 14, 2011

In Re Barry Cromer
   Bankr. W.D. Texas Case No. 11-31355
      Chapter 11 Petition filed July 14, 2011

In Re Kent Square, LLC
   Bankr. W.D. Wash. Case No. 11-18401
      Chapter 11 Petition filed July 14, 2011
         See http://bankrupt.com/misc/wawb11-18401.pdf

In Re Fernando Loya
   Bankr. D. Ariz. Case No. 11-20436
      Chapter 11 Petition filed July 15, 2011

In Re Rodolfo Valenzuela
   Bankr. D. Ariz. Case No. 11-20340
      Chapter 11 Petition filed July 15, 2011

In Re Alain Salmea
   Bankr. C.D. Calif. Case No. 11-18517
      Chapter 11 Petition filed July 15, 2011

In Re Larry Sacharow
   Bankr. C.D. Calif. Case No. 11-32889
      Chapter 11 Petition filed July 15, 2011

In Re Sushi Bar Yoshida, Inc.
   Bankr. C.D. Calif. Case No. 11-40328
      Chapter 11 Petition filed July 15, 2011
         See http://bankrupt.com/misc/cacb11-40328.pdf

In Re Walter William Inc.
   Bankr. C.D. Calif. Case No. 11-18544
      Chapter 11 Petition filed July 15, 2011
         See http://bankrupt.com/misc/cacb11-18544.pdf

In Re Donald Roek
   Bankr. E.D. Calif. Case No. 11-37466
      Chapter 11 Petition filed July 15, 2011

In Re Marlon Moreno
   Bankr. N.D. Calif. Case No. 11-56603
      Chapter 11 Petition filed July 15, 2011

In Re Orrin Thiessen
   Bankr. N.D. Calif. Case No. 11-12682
      Chapter 11 Petition filed July 15, 2011

In Re Robert Hughes
   Bankr. N.D. Calif. Case No. 11-32611
      Chapter 11 Petition filed July 15, 2011

In Re James Nardi
   Bankr. S.D. Calif. Case No. 11-11721
      Chapter 11 Petition filed July 15, 2011

In Re Landlord Maintenance Services, LLC
   Bankr. D. Conn. Case No. 11-31873
      Chapter 11 Petition filed July 15, 2011
         filed pro se

In Re Carlos Roubicek
   Bankr. M.D. Fla. Case No. 11-13465
      Chapter 11 Petition filed July 15, 2011

In Re Kings Kids Learning Center Inc.
   Bankr. M.D. Fla. Case No. 11-05235
      Chapter 11 Petition filed July 15, 2011
         See http://bankrupt.com/misc/flmb11-05235.pdf

In Re Marlene Bernard
   Bankr. S.D. Fla. Case No. 11-29714
      Chapter 11 Petition filed July 15, 2011

In Re Michael Estivo
   Bankr. D. Kan. Case No. 11-12160
      Chapter 11 Petition filed July 15, 2011

In Re Modern Exteriors of Springfield, Inc.
        aka Modern Exteriors of Springfield
   Bankr. W.D. Mo. Case No. 11-61518
      Chapter 11 Petition filed July 15, 2011
         See http://bankrupt.com/misc/mowb11-61518.pdf

In Re LIS Holdings, Inc.
   Bankr. D. Nev. Case No. 11-21206
      Chapter 11 Petition filed July 15, 2011
         See http://bankrupt.com/misc/nvb11-21206.pdf

In Re Anthony Allen
   Bankr. D. N.J. Case No. 11-31145
      Chapter 11 Petition filed July 15, 2011

In Re Steven Hofmann
   Bankr. D. N.J. Case No. 11-31128
      Chapter 11 Petition filed July 15, 2011

In Re Mark Timon
   Bankr. N.D. N.Y. Case No. 11-12277
      Chapter 11 Petition filed July 15, 2011

In Re Bertel Avenue Realty, LLC
   Bankr. S.D. N.Y. Case No. 11-23403
      Chapter 11 Petition filed July 15, 2011
         See http://bankrupt.com/misc/nysb11-23403.pdf

   In Re Graphic Arts Incorporated
      Bankr. S.D. N.Y. Case No. 11-23404
         Chapter 11 Petition filed July 15, 2011
            See http://bankrupt.com/misc/nysb11-23404.pdf

In Re Superior Technology Solutions, Inc.
   Bankr. S.D. N.Y. Case No. 11-13391
      Chapter 11 Petition filed July 15, 2011
         See http://bankrupt.com/misc/nysb11-13391.pdf

In Re Kathryn McLean
   Bankr. D. S.C. Case No. 11-04459
      Chapter 11 Petition filed July 15, 2011

In Re Bryant Soberg
   Bankr. D. S.D. Case No. 11-40553
      Chapter 11 Petition filed July 15, 2011

In Re Kirby Muilenburg
   Bankr. D. S.D. Case No. 11-40552
      Chapter 11 Petition filed July 15, 2011

In Re Donald Gatlin
   Bankr. W.D. Tenn. Case No. 11-12111
      Chapter 11 Petition filed July 15, 2011

In Re Geoff Tamble
   Bankr. W.D. Wash. Case No. 11-18443
      Chapter 11 Petition filed July 15, 2011

In Re Tobia Palma
   Bankr. S.D. Fla. Case No. 11-29768
      Chapter 11 Petition filed July 16, 2011

In Re Charles Janeke
   Bankr. C.D. Calif. Case No. 11-18573
      Chapter 11 Petition filed July 17, 2011

In Re Heart of Texas Chiropractic, Inc.
   Bankr. W.D. Texas Case No. 11-60770
      Chapter 11 Petition filed July 17, 2011
         See http://bankrupt.com/misc/txwb11-60770.pdf

In Re NMC Logistics International, Inc.
   Bankr. C.D. Calif. Case No. 11-40585
      Chapter 11 Petition filed July 18, 2011
         See http://bankrupt.com/misc/cacb11-40585.pdf

In Re Robert Johnson
   Bankr. C.D. Calif. Case No. 11-18629
      Chapter 11 Petition filed July 18, 2011

In Re Grace Goodman
   Bankr. N.D. Calif. Case No. 11-12701
      Chapter 11 Petition filed July 18, 2011

In Re Lukhbir Gill
   Bankr. N.D. Calif. Case No. 11-12703
      Chapter 11 Petition filed July 18, 2011

In Re Carol Martin
   Bankr. M.D. Fla. Case No. 11-05269
      Chapter 11 Petition filed July 18, 2011

In Re Jerry Batteh
   Bankr. M.D. Fla. Case No. 11-05260
      Chapter 11 Petition filed July 18, 2011

In Re Astrid Boening
   Bankr. S.D. Fla. Case No. 11-29818
      Chapter 11 Petition filed July 18, 2011

In Re EPCO Construction And Painting,Inc.
        dba Epco Construction, Inc.
   Bankr. E.D. La. Case No. 11-12299
      Chapter 11 Petition filed July 18, 2011
         See http://bankrupt.com/misc/laeb11-12299p.pdf
         See http://bankrupt.com/misc/laeb11-12299c.pdf

In Re Bijes Management LLC
        dba Hotel Classique
   Bankr. D. N.J. Case No. 11-31329
      Chapter 11 Petition filed July 18, 2011
         See http://bankrupt.com/misc/njb11-31329.pdf

In Re Mid-Atlantic Multi-Specialty Surgical Group, LLC
   Bankr. D. N.J. Case No. 11-31350
      Chapter 11 Petition filed July 18, 2011
         See http://bankrupt.com/misc/njb11-31350.pdf

In Re Orestes Sanchez
   Bankr. D. N.J. Case No. 11-31416
      Chapter 11 Petition filed July 18, 2011

In Re Frank Torres Rodriguez
   Bankr. D. Puerto Rico Case No. 11-06093
      Chapter 11 Petition filed July 18, 2011

In Re T.M. Flamboyan, Inc.
   Bankr. D. Puerto Rico Case No. 11-06087
      Chapter 11 Petition filed July 18, 2011
         See http://bankrupt.com/misc/prb11-06087.pdf

In Re Urban Image Inc.
   Bankr. D. Puerto Rico Case No. 11-06095
      Chapter 11 Petition filed July 18, 2011
         See http://bankrupt.com/misc/prb11-06095.pdf

In Re William Melendez
   Bankr. D. Puerto Rico Case No. 11-06076
      Chapter 11 Petition filed July 18, 2011

In Re Tommy Hawkins
   Bankr. D. S.C. Case No. 11-04495
      Chapter 11 Petition filed July 18, 2011

In Re Nancy Reicheneker
   Bankr. N.D. Texas Case No. 11-70275
      Chapter 11 Petition filed July 18, 2011

In Re La Estrella Bar Inc.
        dba Fulgencio Del Rio
        dba La Estrella Bar
   Bankr. S.D. Texas Case No. 11-36115
      Chapter 11 Petition filed July 18, 2011
         See http://bankrupt.com/misc/txsb11-36115.pdf

In Re Landmark Limited, II, Inc.
   Bankr. W.D. Texas Case No. 11-52491
      Chapter 11 Petition filed July 18, 2011
         See http://bankrupt.com/misc/txwb11-52491.pdf

In Re John Tallia
   Bankr. E.D. Va. Case No. 11-15240
      Chapter 11 Petition filed July 18, 2011



                           *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers"
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors" Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Howard C. Tolentino, Joseph Medel C. Martirez, Denise
Marie Varquez, 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.

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herein is obtained from sources believed to be reliable, but is
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The TCR subscription rate is $775 for 6 months delivered via e-
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