TCR_Public/110726.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Tuesday, July 26, 2011, Vol. 15, No. 205

                            Headlines

1521 SEDGWICK: Voluntary Chapter 11 Case Summary
2222 EVERETT: Voluntary Chapter 11 Case Summary
7128 FRESH: Case Summary & 3 Largest Unsecured Creditors
ABSOLUTE CLEAN: Files for Chapter 7 Bankruptcy Protection
AMERICAN TONERSERV: Case Summary & 20 Largest Unsecured Creditors

ANTIQUE WAREHOUSE: Case Summary & 15 Largest Unsecured Creditors
AJNA BAR: Board's Lawyers to Represent Restaurant in Litigation
ARTECITY MANAGEMENT: Court Okayed Condo Units Auction
BDC CAPITAL: Case Summary & 14 Largest Unsecured Creditors
BEAVERDAM LAND: Bankruptcy Filing Stops Foreclosure Auction

BERNARD L. MADOFF: Trustee May Face Mass Dismissal Motions
BLOCKBUSTER INC: Dish to Keep 1,500 of 3,300 U.S. Stores
BORDERS GROUP: Books-A-Million Has Last-Minute Bid for 30 Stores
BORDERS GROUP: Landlords Mitigate Risks from Borders Liquidation
BORDERS GROUP: Courier Has $8.6-Mil. Impairment Charge

BOSTON GENERATING: Heading for Aug. 30 Plan Confirmation
BRAND MANAGEMENT: Voluntary Chapter 11 Case Summary
BROADWAY CONDOMINIUMS: Case Summary & Creditors List
BULK PETROLEUM: Judge Kelley Approves Plan of Reorganization
BUTTERMILK TOWNE: Has Until Aug. 5 to Use Cash Collateral

CAREFREE WILLOWS: Can Hire Law Offices of Alan R. Smith as Counsel
CHARLESTON ASSOCIATES: Committee Wants Atty. Fees in Cash Budget
CHATHAM MILLS: Owners Working on Reorganization Plan
CHRISTOPHER PETERSON: Files for Chapter 7 Bankruptcy
CRAIG LIND: Files for Chapter 7 Bankruptcy Protection

CRESCENT RESOURCES: Plan Trustee May Amend Suit Against Ex-Officer
CRESCENT RESOURCES: Plan Assigned Attorney-Held Files to Trust
DEB SHOPS: To Hold Auction for Business on Aug. 31
DELHI MINI: Voluntary Chapter 11 Case Summary
DONALD THOMPSON: All Stars Camps Owner Files for Bankruptcy

DYNAMIC BUILDERS: Wants to Sell WFC Asset to BofA Via Credit Bid
DYNEGY HOLDINGS: PSEG Oppose Transfer of Assets to New Units
FALLS AT TOWN: Files Schedules of Assets & Liabilities
FRED LEIGHTON: Former Owner to Serve 6 Years in Prison Over Fraud
G&S LIVINGSTON: Files for Chapter 11 With Prepack

G&S LIVINGSTON: Case Summary & 15 Largest Unsecured Creditors
G & G HOTEL: Case Summary & 20 Largest Unsecured Creditors
GERALD ROSS: Miami Hotel Owner Files for Personal Bankruptcy
GLAZIER GROUP: Order Grants Cash Collateral Access Until Sept. 30
GREAT ATLANTIC: Super Fresh Store in Northern Liberties to Open

GSC GROUP: Gets Nod to Expand Scope of Ernst & Young Employment
JAMES LAWRENCE: Files for Chapter 7 Bankruptcy Protection
JEFFERSON, AL: To Decide on Bankruptcy Filing at Thursday Meeting
JERRY TROOIEN: Reorganization Plan Confirmed Absent Objections
JURGEN TOFT: U.S. Court Won't Compel ISPs to Produce Emails

LOS ANGELES DODGERS: U.S. Trustee Forms Creditors Committee
KIEBLER RECREATION: Jones Lang To Assist Sale of Peek'n Peak
LA DODGERS: Lawyers Issue Statement on Court Ruling
LA VILLITA: ORIX Capital Wants Case Dismissed or Converted
LBJ LAKEFRONT: Chapter 11 Reorganization Case Dismissed

LEED CORP: Court Approves Nathan M. Olsen as Special Co-Counsel
LEED CORP: Ch. 11 Plan Confirmation Hearing Set for Sept. 28
LEED CORP: Wants DIP Loan OK'd for Old School Project Completion
LEED CORP: Court Approves Hartman Appraisal as Expert Appraiser
LEED CORP: Court Approves Paul Landaker as Marketing Expert

LOGIC DEVICES: Posts $119,800 Net Loss in June 30 Quarter
LONGYEAR PROPERTIES: Court Denies Trustee's Case Conversion Plea
LOS ANGELES DODGERS: $150-Mil. Loan From Highbridge Disapproved
MARTIN CADILLAC: Reorganization Case Converted to Liquidation
MERIDIAN MORTGAGE: Ch. 11 Trustee Gets OK for K&L Gates as Counsel

MERIDIAN MORTGAGE: Foster Pepper OK'd as Investors' Panel Counsel
MERIDIAN MORTGAGE: Plan of Liquidation Gets Court Approval
MERUELO MADDUX: Charlestown Proposed Plan Takes Effect
MIN SHOPPING: Case Summary & 2 Largest Unsecured Creditors
MSI INVENTORY: Voluntary Chapter 11 Case Summary

MSR RESORT: Committee Taps Jefferies & Co. as Financial Advisor
MT. ZION: Can Use Cash Collateral to Pay Administrative Claims
NAPA HOME & GARDEN: Teters-Led Auction for Assets on July 28
NEBRASKA BOOK: Has Final Approval of $200 Million Loan
NEW BERN RIVERFRONT: Alderman Approves Amended Reorganization Plan

NEW JERSEY MOTORSPORTS: Court Approves Reorganization Plan
NORTHWESTERN STONE: To Decide on USCOC Lease Later
NURSERYMEN'S EXCHANGE: Proposes to Sell Assets for $4 Million
OMEGA NAVIGATION: Gets Interim Approval of First Day Motions
OPTI CANADA: Releases Second Quarter Operational Update

ORRIN THIESSEN: Files for Chapter 11 Bankruptcy Protection
OROTEK, L.P.: Case Summary & 2 Largest Unsecured Creditors
OUTSOURCE HOLDINGS: Has Until Aug. 31 to Propose Chapter 11 Plan
PACESETTER FABRICS: Taps Rutter Hobbs as Gen. Bankruptcy Counsel
PACESETTER FABRICS: Taps Lazarus Resources as Turnaround Advisor

PARAMOUNT LIMITED: Alleged Ponzi Scheme Files for Chapter 11
PARAMOUNT LIMITED: Case Summary & Largest Unsecured Creditor
PEARLAND SUNRISE: U.S. Trustee Wants Case Dismissed or Converted
PENINSULA HOSPITAL CENTER: To Close; 1,000 Jobs Affected
PERRY'S INC: Places Ocean Resort on Auction Block

PHICOF LLC: Case Summary & 11 Largest Unsecured Creditors
PINK MOON: Judge Olson Dismisses Chapter 11 Case
PJ FINANCE: Plan Filing Period Extended Until Aug. 31
PJ FINANCE: Has Interim Authority to Use Cash Collateral
PRECISION PARTS: Targets Sept. Confirmation for 0.15% Payment Plan

PROTECTIVE PRODUCTS: Asks Court to Reset Plan Confirmation Hearing
QUAKERTOWN MOOSE: Shuts Doors, Declares Chapter 7 Liquidation
QSGI INC: KruseCom Unit Has 4 Significant New Customers
QUINCY MEDICAL: Court OKs O'Neil & Associates as Advisors
QUINCY MEDICAL: Judge Authorizes Firm to Hold August Auction

RASER TECHNOLOGIES: Creditor Objects to Reorganization Plan
RIDGE PARK: Case Summary & 13 Largest Unsecured Creditors
RIVER ROAD: Lenders Win Approval for Chapter 11 Plan in Case
RUSSELL 150: Files For Chapter 11 Bankruptcy Protection
RUSSELL 150: Case Summary & 14 Largest Unsecured Creditors

RW LOUISVILLE: US Trustee Appoints Deborah Simon as Examiner
SAINT VINCENTS: Iron Mountain Challenges Transfer of Docs Storage
SARATOGA RESOURCES: Begins Trading on the NYSE Amex
SCORPION PERFORMANCE: RBSM LLP Raises Going Concern Doubt
SEDA FRANCE: Court Tosses Unsecured Creditor's Bid for Legal Fees

SHERMARK INVESTMENTS: Case Summary & Creditors List
SST VENTURES: Voluntary Chapter 11 Case Summary
STELLAR GT: U.S. Trustee Wants Case Converted or Dismissed
SUNRISE OBX: Case Summary & 2 Largest Unsecured Creditors
SW BOSTON: Can Access Cash Collateral Until Sept. 30

SW BOSTON: Post-Trial Briefs on Rival Plans Due Aug. 1
THINK3 INC: Has Final Financing Approval for $1 Million
T&J RESTAURANTS: Case Summary & 20 Largest Unsecured Creditors
TANT CONSTRUCTION: Case Summary & 8 Largest Unsecured Creditors
TAMARACK RESORT: Founder Seeks to Join in Suit v. Credit Suisse

T.E. WOODS: Case Summary & 20 Largest Unsecured Creditors
TOWERS CONDOMINIUM: Voluntary Chapter 11 Case Summary
TRANSWEST TUCSON: Creditor PIM Ashford Wants to File Ch. 11 Plan
VITRO SAB: Chapter 15 Petition Granted by Judge in Dallas
WARNER MUSIC: European Commission Clears Merger with Airplanes

WASHINGTON MUTUAL: Equity Committee Wants Plan Confirmation Denied
WATERSCAPE RESORT: Committee To Tap Schiff Hardin as Counsel
WATERSONG APARTMENTS: Nov. 3 Disclosure Statement Hearing Set
WCK INC: Case Dismissed, to Pay U.S. Trustee's Quarterly Fees
WHARFSIDE ASSOCIATES: Court Dismisses Involuntary Ch. 11 Case

WINDMILL DURANGO: Beal Bank Objects to Amended Chapter 11 Plan
W.R. GRACE: Proposes to Settle CDGS' $130-Mil. PD Claims
W.R. GRACE: Wins OK for Massachusetts NRD Settlement
W.R. GRACE: BlackRock Has 2.88 Equity Stake in Grace
XSTREAM SYSTEMS: Aug. 5 Deadline Set for EDXRD System Bids

YELLOWSTONE CLUB: Founder Seeks to Join in Suit v. Credit Suisse
YRC WORLDWIDE: Obtains Commitments for $400MM Asset-Based Loan
YRC WORLDWIDE: Incurs $39 Million Net Loss for 2nd Quarter
ZAIS INVESTMENT: Plan Outline Hearing Scheduled for Sept. 13

* 7th Cir. Expounds on Removal and Remand in Bankruptcy

* Large Companies With Insolvent Balance Sheets


                            *********


1521 SEDGWICK: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: 1521 Sedgwick Limited Partnership
        1521 N. Sedgwick
        Chicago, IL 60610

Bankruptcy Case No.: 11-30027

Chapter 11 Petition Date: July 21, 2011

Court: U.S. Bankruptcy Court
       Northern District of Illinois (Chicago)

Judge: Carol A. Doyle

Debtor's Counsel: Patience R. Clark, Esq.
                  LAW OFFICE OF PATIENCE R. CLARK P.C.
                  30 N. LaSalle Street, Suite 3400
                  Chicago, IL 60602
                  Tel: (312) 332-0133
                  Fax: (312) 332-0144
                  E-mail: prc@clarklawchicago.com

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

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

The Company did not file a list of creditors together with its
petition.

The petition was signed by Joyce Carlson, partner.


2222 EVERETT: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: 2222 Everett Ave E, LLC
        157 S. Howard St., Suite 400
        Spokane, WA 99201

Bankruptcy Case No.: 11-03589

Chapter 11 Petition Date: July 21, 2011

Court: United States Bankruptcy Court
       Eastern District of Washington (Spokane/Yakima)

Debtor's Counsel: Brett T. Sullivan, Esq.
                  SULLIVAN STROMBERG, PLLC
                  827 W 1st Ave Ste 425
                  Spokane, WA 99201-3914
                  Tel: (509) 413-1004
                  Fax: (509) 413-1078
                  E-mail: bretts@sullivanstromberg.com

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

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

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

The petition was signed by Robert C. Brewster, Jr., sole member.


7128 FRESH: Case Summary & 3 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: 7128 Fresh Meadows LLC
        7128 163rd Street
        Fresh Meadows, NY 11365

Bankruptcy Case No.: 11-46270

Chapter 11 Petition Date: July 21, 2011

Court: United States Bankruptcy Court
       Eastern District of New York (Brooklyn)

Judge: Carla E. Craig

Debtor's Counsel: Gail E. Spindler, Esq.
                  TROP & SPINDLER
                  19-02 Whitestone Expressway, Suite 202
                  Whitestone, NY 11357
                  Tel: (718) 357-4333
                  Fax: (718) 357-3696
                  E-mail: troplaw@msn.com

Scheduled Assets: $2,893,340

Scheduled Debts: $2,539,093

A list of the Company's three largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/nyeb11-46270.pdf

The petition was signed by Zhi Cheng Huang, managing member.


ABSOLUTE CLEAN: Files for Chapter 7 Bankruptcy Protection
---------------------------------------------------------
The Star Tribune in Minnesota reports that Absolute Clean
Environments Inc. filed for Chapter 7 bankruptcy protection
(Bankr. D. Minn. Case No. 11-44870).  The Debtor disclosed assets
of $451 and liabilities of $117,666.  Jamin Wood is the Company's
president.


AMERICAN TONERSERV: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: American Tonerserv Corp.
          fka Managed Maintenance Systems, Inc.
              Q Matrix, Inc.
          aka NC Tonerserv LLC
              IPrint Technologies, LLC
              TT Acquisitions, LLC
          dba TonerType LLC
              Optima Technologies
        P.O. Box 414
        Windsor, CA 95492-0414

Bankruptcy Case No.: 11-12749

Chapter 11 Petition Date: July 20, 2011

Court: U.S. Bankruptcy Court
       Northern District of California (Santa Rosa)

Judge: Alan Jaroslovsky

Debtor's Counsel: Craig K. Welch, Esq.
                  LAW OFFICE OF CRAIG K. WELCH
                  809 Petaluma Boulevard N
                  Petaluma, CA 94952
                  Tel: (707) 782-1790
                  E-mail: cwelch@craigwelchlegal.com

Scheduled Assets: $6,219,408

Scheduled Debts: $7,665,119

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/canb11-12749.pdf

The petition was signed by Daniel Brinker, chief financial
officer.


ANTIQUE WAREHOUSE: Case Summary & 15 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Antique Warehouse of Arkansas, Inc.
        9256 Highway 65 North
        Clinton, AR 72031

Bankruptcy Case No.: 11-14710

Chapter 11 Petition Date: July 21, 2011

Court: U.S. Bankruptcy Court
       Eastern District of Arkansas (Little Rock)

Judge: Audrey R. Evans

Debtor's Counsel: O.C. Rusty Sparks, Esq.
                  CLARK, BYARLAY & SPARKS
                  620 West 3rd Street, Suite 100
                  Little Rock, AR 72201
                  Tel: (501)376-0550 Ext. 112
                  Fax: (501)376-7447
                  E-mail: rustysparkslaw@gmail.com

Scheduled Assets: $427,860

Scheduled Debts: $2,514,748

A list of the Company's 15 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/areb11-14710.pdf

The petition was signed by Don R. Keathley, president/secretary.


AJNA BAR: Board's Lawyers to Represent Restaurant in Litigation
---------------------------------------------------------------
Emily Laermer, writing for Crain's New York Business, reports that
Judge A. Jay Cristol ruled Friday that Gusrae Kaplan Bruno &
Nusbaum -- the attorneys who represented the board of the Pan-
Asian restaurant now known as Ajna Bar -- will represent the
restaurant in forthcoming litigation, according to court
documents.

Earlier this year, creditors filed petitions in both Florida and
New York that have forced the restaurant to file for Chapter 7
bankruptcy protection.  Crain's relates attorney Emanuel Zeltser,
who represented another former CEO, Nina Zajic, immediately
accepted the petitions and filed for bankruptcy protection the
following day.

Crain's relates Martin Russo, the Gusrae Kaplan Bruno & Nusbaum
attorney who represents the restaurant's board, which includes
former CEO Jean-Yves Haouzi, immediately filed to strike the
answer.  A judge has yet to determine who owns the restaurant, but
Mr. Russo said that this ruling indicates the judge will side with
his client.

"Nina Zajic is starting to lose credibility," said Mr. Russo,
according to Crain's.  "It means that Mr. Zeltser and Ms. Zajic
filed unauthorized bankruptcy filings."

Mr. Russo may be reached at:

          Martin Russo, Esq.
          GUSRAE KAPLAN BRUNO & NUSBAUM PLLC
          120 Wall Street
          New York, NY 10005
          Tel: (212) 269-1400
          Fax: (212) 809-5449
          E-mail: mrusso@gkblaw.com

Ajna Bar is located on 25 W. 12th St., between Fifth and Sixth
avenues.  Crain's notes the restaurant was once a hot spot for
celebrities like Heidi Klum, Sarah Jessica Parker and Eva Mendes.


ARTECITY MANAGEMENT: Court Okayed Condo Units Auction
-----------------------------------------------------
Bankruptcy Judge Jay Cristol last month authorized the "as is"
sale of Artecity Management LLC, et al., of its unsold condominium
units pursuant to the Third Amended Joint Plan of Liquidation,
subject to liens for ad valorem real estate taxes which will
become obligation of the purchasers.  The auction led by Corus
Construction Ventures LLC or its assignee was set for June 29,
2011.  The assets included in the auction included condominium
units and other assets of the Debtor.

                     About Artecity Park LLC

Miami Beach, Florida-based Artecity Park LLC filed for Chapter 11
bankruptcy protection (Bankr. S.D. Fla. Case No. 10-31410) on
July 26, 2010.  Thomas R. Lehman, Esq., at Levine Kellogg Lehman
Schneider & Grossman LLP, in Miami, Fla., represents the Debtors
as counsel.  The Company estimated assets at $50 million to
$100 million and debts at $10 million to $50 million.

Affiliates Artecity Management IXC (Case No. 10-41406), Artecity
Holding Ltd. (Case No. 10-31407), Artepark South Development LLC
(Case No. 10-31412, BKC-AJC), Artecity Plaza LLC (Case No.
10-31411), Artecity Governor LLC (Case No. 10-31409), and Park
Villas Development LLC (Case No. 10-31413) filed separate
Chapter 11 petitions.  The cases are jointly administered under
Artecity Management, LLC.

The Debtors are engaged in the development of a real estate
condominium project in Miami Beach, Florida, known as the
Aretecity.  The Project includes 202 condominium units in five
multi-level buildings, together with retail spaces, two pools, a
fitness and spa facility, and a parking garage.

Artecity Management manages the Debtors' operations and is the
general partner of Artecity Holding, Ltd.  Artecity Holding owns
100% of the membership interests in Artecity Park LLC, Artecity
Plaza LLC, Artecity Governor LLC, Artepark South Development LLC,
and Park Villas Development LLC.


BDC CAPITAL: Case Summary & 14 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: BDC Capital Inc.
        500 N. Washington Street
        Alexandria, VA 22314

Bankruptcy Case No.: 11-15340

Chapter 11 Petition Date: July 21, 2011

Court: United States Bankruptcy Court
       Eastern District of Virginia (Alexandria)

Judge: Stephen S. Mitchell

Debtor's Counsel: Madeline A. Trainor, Esq.
                  CYRON & MILLER, LLP
                  100 N. Pitt Street, Suite 200
                  Alexandria, VA 22314
                  Tel: (703) 299-0600
                  Fax: (703) 299-0603
                  E-mail: mtrainor@cyronmiller.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 14 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/vaeb11-15340.pdf

The petition was signed by John R. Beard, president.


BEAVERDAM LAND: Bankruptcy Filing Stops Foreclosure Auction
-----------------------------------------------------------
Mark Barrett at Citizen-Times.com reports that Beaverdam Land
Conservancy LLC filed for Chapter 11 bankruptcy, blocking a
foreclosure auction on the Buncombe County courthouse that began
in June.  Beaverdam Land's filing said it has assets worth $22.4
million, almost all of which is real estate, and $16.7 million in
debt.  Beaverdam Land Conservancy owed more than $9 million on a
$9.9 million loan it took out from the Bank of Asheville in
November 2006 that was the subject of the foreclosure proceeding.


BERNARD L. MADOFF: Trustee May Face Mass Dismissal Motions
----------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that plans are in the works for customers of Bernard L.
Madoff Investment Securities Inc. who had no knowledge of the
fraud to join together in filing motions to dismiss lawsuits filed
by the trustee.  The motions would test whether the Madoff trustee
has the right to sue innocent customers.

                      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.


BLOCKBUSTER INC: Dish to Keep 1,500 of 3,300 U.S. Stores
--------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Blockbuster Inc. announced that Dish Network Corp.
worked out agreements with landlords so that more than 1,500
stores will remain in operation.  Dish bought the business in
April under a contract with a $320 million sticker price.  Dish
said it was able to take 90% of the stores offered in the sale.
Dish blamed the closings of the remaining stores on landlords who
wouldn't accept "reasonable terms."

                     About Blockbuster

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.  Blockbuster began the attempted
Chapter 11 reorganization in September with 5,600 stores,
including 3,300 in the U.S.  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.


BORDERS GROUP: Books-A-Million Has Last-Minute Bid for 30 Stores
----------------------------------------------------------------
Judge Martin Glenn of the U.S. Bankruptcy Court for the Southern
District of New York approved the sale of substantially all of
Borders Group, Inc. and its debtor affiliates' assets, free and
clear of all liens, claims, and encumbrances, to a group of
liquidators composed of Hilco Merchant Resources, LLC; SB Capital
Group, LLC; Tiger Capital Group, LLC; Gordon Brothers Retail
Partners, LLC; and Great American W.F. LLC on July 21, 2011.

The liquidators group announced on July 21 that a going-out-of-
business sale begins Friday, July 22, at all 399 remaining Borders
bookstore locations, which include 259 Borders superstores as well
as 114 Borders Express and Waldenbooks, and 26 Borders Airport
stores.  Over $700 million of inventory, including books,
puzzles/games, activity sets, stationery, magazines, music and
movie media, calendars, posters, and more will be liquidated, as
well as store fixtures, furnishings and equipment.

Borders Group President Mike Edwards stated, "This marks the end
of an era and we thank our customers for their patronage over our
40-year history.  I encourage our customers to take advantage of
this one-time opportunity to find exceptional discounts on their
favorite books and other great merchandise.  The commitment to our
customers will remain a top priority throughout the going-out-of-
business sale."

A spokesperson for the liquidators group said, "This is the final
opportunity for consumers to take advantage of truly compelling
discounts on a tremendous selection of literature, entertainment
media and much more.  We anticipate that today's value-conscious
consumer will respond very positively to these outstanding
savings.  We expect this will be a short sale."

Discounts up to 40% will be offered on all merchandise at every
location.  Consumers will benefit from very significant savings on
the entire stock of books in every category, including new
releases, best sellers, textbooks, rare and collectible books, and
children's books.  There are also substantial price reductions on
tens of thousands of music CDs and video DVDs, calendars, posters,
puzzles, and arts and crafts items.  In addition, customers can
also buy store fixtures such as lighting, shelving and racks, and,
at select locations, cafe equipment. Borders gift cards will be
honored throughout the sale.   Initially, Borders Rewards PLUS
members will continue to receive additional discounts on
qualifying purchases.  All existing Borders Bucks can be redeemed
until they expire on July 31, 2011.  All sales made on or after
July 22 are final.  Returns made on any merchandise purchased
prior to July 22 will be handled in compliance with Borders
existing return policy.

A list of the 399 Closing Stores is available for free at:

  http://bankrupt.com/misc/Borders_Jul21StoreClosingList.pdf

                Books-A-Million's Last-Minute Bid

The number of stores to be liquidated could change depending on
the outcome of Books-A-Million Inc.'s last-minute bid for 30 to 35
Borders stores.  In a July 21 statement, Books-A-Million disclosed
that it made a bid to purchase the inventory, fixtures, equipment
and leasehold interests for 30 Borders stores.

Andrew K. Glenn, Esq., at Kasowitz, Benson, Torres & Friedman LLP,
in New York, counsel to Borders, read before the Court a list of
the 30 store Books-A-Million wants and five more that it wants the
option to buy, Joseph Checkler of The Wall Street Journal relates.

Borders said it would work the rest of Thursday, July 21, to gain
support from the Official Committee of Unsecured Creditors for the
sale of the stores to Books-A-Million, The Journal notes.

Bruce Buechler, Esq., at Lowenstein Sandler PC, in New York,
counsel to the Official Committee of Unsecured Creditors, said the
group "still have to get a firm handle on what the details of the
Books-A-Million deal are and what, if any, incremental value the
five additional stores bring," Bloomberg News relays.

Mr. Glenn insisted that the Books-A-Million deal may save 1,000 to
1,500 jobs and boosts returns to creditors, Bloomberg relates.
The Journal quotes the Borders lawyer as saying that sale of the
stores would add "seven figures" of value for Borders creditors.

During a July 21 hearing, Borders and Books-A-Million pointed out
that if and when a deal on the other 30 or 35 store is struck,
those stores will not be liquidated, according to The Journal.

Accordingly, Judge Glenn authorized the Liquidators Group to enter
into a sale of inventory, furniture, fixtures and equipment and
leases for approximately 30 stores to Books-A-Million in a bulk
sale, subject to the express written consent of the Debtors, the
Creditors' Committee and the Liquidators Group.

Mr. Glenn also told the Court that landlords would get information
about what leases Books-A-Million would assume on an informal
basis, Bloomberg states.  According to Mr. Glenn, the company
would prefer to avoid litigation with landlords, Bloomberg adds.

Under the Agency Agreement with the Liquidators Group, Borders
will receive a guaranteed 72% of the total cost of the merchandise
included in the sale plus other amounts.  The guaranty percentage
has been fixed based on the aggregate cost value of the
merchandise not being less than $350 million and no more than $395
million.

The Journal notes that some of the money will be withheld while
the liquidators tally the merchandise themselves to ensure
Borders' books are accurate.  Assuming no problems, the
liquidators will then pay the rest of the sum to Borders'
bankruptcy estate, The Journal cites.

Moreover, the liquidators will keep a weekly count of proceeds
from the sales and will get reimbursed for expenses incurred with
the sale, The Journal relates.  The liquidators and Borders'
estate will then split the remaining pot of money from the sales.

The liquidators' profit, The Journal notes, will depend on selling
Borders's remaining merchandise at prices high enough so they take
in more than they give to Borders throughout the process.

                    Other Sale Provisions

The liquidators group will act as the Debtors' exclusive agent to
conduct sale of certain of the Debtors' assets as set forth in the
Agency Agreement, a full-text copy of which is available for free
at http://bankrupt.com/misc/Borders_Jul13AgencyAgreement.pdf

The Debtors and the Agent are authorized to conduct the Sales in
accordance with sale guidelines, a full-text copy of which is
available for free at:

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

The Court also authorized the Debtors to assume and assign certain
leases to Books-A-Million, subject to the consent of the Debtors,
the Creditors' Committee and each landlord and other parties to
the Books-A-Million Leases, a schedule of which is available for
free at:

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

The Debtors are authorized and directed to (i) fully fund the
Carve-Out Amount; (ii) repay, or cause to be repaid, the DIP
Obligations; and (iii) to fully fund an Ad Valorem Tax Reserve
Funding defined as a segregated account to be established by the
Debtors in which there will be deposited an amount equal to $1.343
million to provide for the payment of claims or liens of Taxing
Authorities holding Identified Prior Claims which are secured by
Prepetition Permitted Liens with respect to ad valorem and similar
taxes.  The Encumbrances of any Taxing Authority will attach to
the funds held in the segregated account in the same priority,
validity and extent as the Prepetition Permitted Liens and no DIP
Secured Party will have any liability with respect to any
obligations or to provide for the payment of any obligations.

The Agent is permitted to pay a payoff amount to satisfy (i) the
Agent's obligations to the Debtors under the Agency Agreement, and
(ii) the Debtors' obligations under the DIP Loan Documents.  Upon
(i) receipt by the DIP Agents of a payoff letter; (ii) the full
payment in cash of the Payoff Amount plus the Per Diem Amount, and
(iii) entry of the Sale Order, all liens on property of the
Debtors relating to the Debtors' Obligations under the DIP Credit
Agreement will automatically be deemed released, and the DIP
Agents will take all reasonably requested actions to confirm the
removal of any liens on the assets securing the claims under the
DIP Credit Agreement, and the Termination Date will be deemed to
have occurred.  A form of the Payoff Letter is available for free
at http://bankrupt.com/misc/Borders_PayoffLetter.pdf

The Debtors and the Agent will not extend the Sale Termination
Date beyond November 13, 2011, without notice and further order of
the Court; provided that no notice or further order of the Court
will be required for an extension that does not exceed 10 days.

Pursuant to Section 554(a) of the Bankruptcy Code, the Debtors and
the Agent, as applicable, are permitted to abandon property of the
Debtors' estates in accordance with the Agency Agreement, without
incurring liability to any person or entity.  The Debtors will
remove or cause to be removed any confidential information from
point of sale equipment.

The Agent and the Debtors agree that no furniture, fixtures and
equipment at Seattle's Best Coffee LLC Borders cafes will be sold
without SBC's prior consent.  The parties, including SBC, agree
that (i) retail inventory and cafe supplies will be sold to
consumers as part of the going out of business sale by Agent but
not in bulk to third parties, (2) FF&E bearing SBC marks may be
sold after being de-identified, and (3) espresso machines may be
sold after removal of any SBC marks and proprietary data.

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

   http://bankrupt.com/misc/Borders_July21SaleOrder.pdf

                   Sale Objections Overruled

Any remaining objections to the Sale Motion that have not been
withdrawn, waived, or settled, and all reservations of rights
included in those objections are overruled in all respects and
denied, Judge Glenn ruled.

In an omnibus reply to the Sale Objections, the Debtors noted that
the Agency Agreement and liquidation of their business renders
moot all objections to the proposed assumption and assignment of
contracts, as well as portion of other objections that raise cure
and assumption issues, because they are not, at this time,
assuming or assigning any unexpired leases or executory contracts.

Through July 18, 2011, approximately 99 objections and joinders to
objections to the Sale Motion were filed.  Ten Objections are
unrelated to the relief sought in the Sale Motion and 57
objections relate to contract assumption.  Because the majority of
the Objections were filed by landlords, with several others filed
by various local taxing authorities, the Objections raise largely
overlapping and duplicative objections.  The Debtors prepared a
chart summarizing the remaining 32 non-assumption objections and
their corresponding response, a copy of which available for free
at http://bankrupt.com/misc/Borders_Non-AssumptnObjsChart.pdf

The Debtors filed with the Court a revised proposed Sale Order,
which reflects modifications sought by various parties and
modifications made by the Debtors in response to the Objections.

Judge Glenn signed the revised proposed order on July 21, 2011.

Before the Court's entry of the Sale Order, Somerset Leasing Corp.
XI asserted that the Debtors should cure all defaults under the
lease totaling $34,036 plus continued monthly payments of $59,888.
Serota Brooktown III, LLC, contended the correct cure amount is
$55,636, instead of the proposed cure amount of $12,868.  Schuler
Books, Inc. withdrew its objection to the Sale Motion.  Indigo
Books & Music, Inc. also withdrew its joinder to Kobo, Inc.'s
objection to the Sale Motion.

                       About Borders Group

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

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

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

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

Lowenstein Sandler represents the official unsecured creditors
committee for Borders Group.  Bruce S. Nathan and Bruce Buechler,
members of Lowenstein Sandlers' Bankruptcy, Financial
Reorganization & Creditors' Rights Group, are leading the team.

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

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

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


BORDERS GROUP: Landlords Mitigate Risks from Borders Liquidation
----------------------------------------------------------------
Borders Group, Inc.'s decision to liquidate the remaining 399
stores promises to be headache for landlords, but others will be
worse off than others, A.D. Pruitt of The Wall Street Journal
reports.

A location near the New York Stock Exchange is likely to get
filled soon, said Gene Spiegelman of Cushman & Wakefield,
representing the landlord, The Journal cites.  The store was among
the first round of store closings announced in February, the
report states.

At the opposite end is Agree Realty Corp., a small real-estate
investment trust.  Borders is Agree's third largest tenant and
makes up 9% of the annual rental income of the Farmington Hills,
Michigan-based firm, The Journal states, citing research firm
Janney Capital Markets.  Many of Agree's properties are in markets
where it still is difficult to find tenants, the report notes.
Andrew DiZio, an analyst at Janney Capital, states that Agree may
give up about five properties to lenders, The Journal relays.
Agree was in default on three properties secured by Borders, the
report adds.

Mall and shopping center owners acknowledged that they have been
planning for this worst-case scenario, The Journal states.  Some
have already initiated discussions with possible replacement
tenants and have considered to break up floor space of stores to
be vacated by Borders to make it easier for a new tenant or
repurpose it for mixed use, according to the report.

For the malls and retail properties in secondary or weak markets,
however, finding new tenants could be more of a feat as big
retailers like Best Buy Co., which were rapidly expanding, are
backing away from the big-box format and are opting for smaller
stores, the Journal points out.  Cedrick Lachance, analyst at
research firm Green Street Advisors, echoed that demand for space
of that size may be limited, the Journal relays.

Westfield Group and General Growth Properties Inc. are Borders'
largest landlords, said Mr. Lachance.  Because many of their
Borders stores are located in high-performing malls, the two
landlords will have a hard time finding new tenants compared to
Pennsylvania Real Estate Investment Trust, which operates malls in
weaker markets, The Journal says.  Alan Barocas, head of leasing
for GGP, confirmed that the landlord has found new tenants for
some stores, but declined to give specifics, The Journal relays.
Mr. Barocas cited one benefit that many of the leases were signed
seven years ago at below market rents.

Pennsylvania REIT head Joseph Coradino stated that leasing deals
for most of their soon-to-be-vacant stores are in the works,
according to The Journal.

                  Borders Closures Expected
                 to Impact Real Estate Market

Borders' liquidation will add vacancies in U.S. retail space by as
much as 6.3 million square feet, according to DJM Realty LLC, the
Debtors' real estate broker, Brian Louis of Bloomberg News
reports.

As widely reported, Borders has obtained Court approval to proceed
with the liquidation of its 399 stores.

DJM plans to auction 259 Borders real estate leases in two
separate sales probably in August and September 2011, Andy
Graiser, co-president of DJM, said, Bloomberg relays.

Mary Davis, a spokesperson for Borders, said Borders has not hired
a firm to handle the disposition of the rest of its locations,
which are smaller outlets averaging 1,300 square feet, Bloomberg
notes.

Borders' stores, Bloomberg cites, are in shopping centers, malls
and stand-alone locations.  The vacancy rate at U.S. neighborhood
and community shopping centers rose to 11% in the quarter ended
June 30, 2011, near the record of 11.1% in 1990 and up from 10.9%
of the second quarter of last year, Bloomberg states, citing New
York-based Reis, Inc.

                       About Borders Group

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

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

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

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

Lowenstein Sandler represents the official unsecured creditors
committee for Borders Group.  Bruce S. Nathan and Bruce Buechler,
members of Lowenstein Sandlers' Bankruptcy, Financial
Reorganization & Creditors' Rights Group, are leading the team.

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

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

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


BORDERS GROUP: Courier Has $8.6-Mil. Impairment Charge
------------------------------------------------------
Courier Corp. stated that it took a pre-tax, non-cash impairment
charge of $8.6 million or $0.43 per diluted share, representing
all of goodwill of its Research & Education Association (REA)
business, for the quarter ended June 25, 2011, in light of the
continuing uncertainty of the remaining Borders stores, according
to a public statement dated July 21, 2011.

Courier Corp. related that the loss of sales to Borders Group,
Inc., was particularly damaging to its REA publishing business,
for which Borders had been a key customer.

As a result of the $8.6 million impairment change, Courier Corp.
reported a third-quarter net loss of $3.1 million or $0.26 per
diluted share.  Excluding the impairment charge, adjusted net
income for the quarter was $2.0 million or $0.17 per diluted
share, up 15% from net income of $1.8 million or $0.15 per diluted
share in the third quarter of fiscal 2010.

                       About Borders Group

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

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

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

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

Lowenstein Sandler represents the official unsecured creditors
committee for Borders Group.  Bruce S. Nathan and Bruce Buechler,
members of Lowenstein Sandlers' Bankruptcy, Financial
Reorganization & Creditors' Rights Group, are leading the team.

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

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

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


BOSTON GENERATING: Heading for Aug. 30 Plan Confirmation
--------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Boston Generating LLC has an Aug. 30 confirmation
hearing for approval of the liquidating Chapter 11 plan that gives
unsecured creditors with $820 million in claims what's known in
the bankruptcy business as hope certificates.

Mr. Rochelle relates that Boston Generating completed the sale of
its five Boston-area power plants in January to Constellation
Energy Group Inc.  After completion of the sale, first-lien
secured lenders with $1.142 billion in claims will have received a
98.4% recovery, according to the disclosure statement the
bankruptcy judge in New York approved on July 20.

According to the report, unsecured creditors have the right to
participate in a lawsuit initiated by the official committee
contending that a refinancing in late 2006 was a fraudulent
transfer that can be voided in bankruptcy.  The eventual recovery
by unsecured creditors is "unknown," according to the disclosure
statement.  Unsecured creditors have the right to opt out and
pursue the claims on their own.

In addition to the first-lien debt, where an affiliate of Credit
Suisse Group AG is agent, Boston Generating's debt includes $350
million on a second lien, a $423 million mezzanine debt liability,
and less than $10 million owing to trade suppliers.

                      About Boston Generating

New York-based Boston Generating, LLC, owns nearly 3,000 megawatts
of mostly modern natural gas-fired power plants in the Boston
area.  Privately held Boston Generating is an indirect subsidiary
of US Power Generating Co., and considers itself as the third-
largest fleet of plants in New England.

Boston Generating filed for Chapter 11 protection (Bankr. S.D.N.Y.
Case No. 10-14419) on Aug. 18, 2010.  Boston Generating estimated
its assets and debts at more than $1 billion as of the Petition
Date.

EBG Holdings LLC; Fore River Development, LLC; Mystic, LLC; Mystic
Development, LLC; BG New England Power Services, Inc.; and BG
Boston Services, LLC, filed separate Chapter 11 petitions.

D. J. Baker, Esq., at Latham & Watkins LLP, serves as bankruptcy
counsel for the Debtors.  JPMorgan Securities is the Debtors'
investment banker.  Perella Weinberg Partners, LP, is the Debtors'
financial advisor.  Brown Rudnick LLP is the Debtors' regulatory
counsel.  FTI Consulting, Inc., is the Debtors' restructuring
consultant.  Anderson Kill & Olick, P.C., is the Debtors'
conflicts counsel.  The Garden City Group, Inc., is the Debtors'
claims agent.

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


BRAND MANAGEMENT: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Brand Management Services Inc.
        129 South 8th Street
        Brooklyn, NY 11211

Bankruptcy Case No.: 11-46230

Chapter 11 Petition Date: July 20, 2011

Court: United States Bankruptcy Court
       Eastern District of New York (Brooklyn)

Judge: Joel B. Rosenthal

Debtor's Counsel: Avrom R. Vann, Esq.
                  AVROM R. VANN, P.C.
                  420 Lexington Avenue, Suite 2400
                  New York, NY 10170
                  Tel: (212) 389-7810
                  Fax: (212) 661-6976
                  Email: A2442@aol.com

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

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

The petition was signed by Harold Weber, president.

The Debtor did not file its list of largest unsecured creditors
when it filed its petition.


BROADWAY CONDOMINIUMS: Case Summary & Creditors List
----------------------------------------------------
Debtor: Broadway Condominiums, LLC
        6124 North Broadway, #5S
        Chicago, IL 60660

Bankruptcy Case No.: 11-29724

Chapter 11 Petition Date: July 20, 2011

Court: U.S. Bankruptcy Court
       Northern District of Illinois (Chicago)

Judge: Jack B. Schmetterer

Debtor's Counsel: Gregory K. Stern, Esq.
                  GREGORY K. STERN, P.C.
                  53 West Jackson Boulevard, Suite 1442
                  Chicago, IL 60604
                  Tel: (312) 427-1558
                  Fax: (312) 427-1289
                  E-mail: gstern1@flash.net

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

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

A list of the Company's two largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/ilnb11-29724.pdf

The petition was signed by Boguslaw Bialkowski, managing member.


BULK PETROLEUM: Judge Kelley Approves Plan of Reorganization
------------------------------------------------------------
Rich Kirchen at The Business Journal Milwaukee reports that
Bankruptcy Judge Susan Kelley approved a Chapter 11 reorganization
plan for Darshan Dhaliwal's Bulk Petroleum Corp.  The sprawling
case involved 18 bank and credit union lenders and Mr. Dhaliwal's
28 separate but inter-related companies in nine states.  Most of
the banks and credit unions are taking significant losses on their
loans to Bulk Petroleum and affiliated companies that owned gas
station properties.

                       About Bulk Petroleum

Mequon, Wisconsin-based Bulk Petroleum Corp. supplies gasoline to
over 200 gas stations throughout the Midwest.  It buys gasoline
from oil companies and then sells it to individual gas stations.
The Company, along with affiliates, sought Chapter 11 protection
(Bankr. E.D. Wis. Case No. 09-21782) on Feb. 18, 2009.  Jerome R.
Kerkman, Esq., at Kerkman & Dunn in Milwaukee, Wis., assists the
Debtors in their restructuring effort.  Bulk Petroleum estimated
$50 million to $100 million in assets and $50 million to $100
million in debts as of the Chapter 11 filing.

Bulk Petroleum's debtor-affiliates that filed separate Chapter 11
petitions include Charanjeet Illinois Stations No. 6, Inc.,
Darshan's Wisconsin Stations Eight, LLC, Gurpal Wisconsin
Stations, LLC, Interstate Petroleum Products, Inc., Rakhra
Wisconsin E-Z Go Stations Three, Inc., and Sartaj's Illinois Nine,
LLC.


BUTTERMILK TOWNE: Has Until Aug. 5 to Use Cash Collateral
---------------------------------------------------------
Judge Tracey N. Wise of the U.S. Bankruptcy Court for the Eastern
District of Kentucky, Covington Division, authorized Buttermilk
Towne Center, LLC, to use cash collateral until Aug. 5, 2011.

As adequate protection for any diminution in the value of the cash
collateral securing the Debtor's prepetition loan from Bank of
America, N.A., BofA is granted replacement liens on all property
of Debtor.

The Debtor will continue to use its best efforts to obtain a
fully-executed binding stalking-horse asset purchase agreement in
form and substance as previously agreed to by BofA for the sale of
substantially all of the assets and the bonds owned by BofA for a
purchase price of not less than $22 million pursuant to
Section 363 of the Bankruptcy Code with a closing date of no later
than Sept. 15, 2011.

The Stalking Horse APA will be subject to higher and better offers
in accordance with bid procedures and protections to be approved
by the Court, after notice and a hearing, with an auction to be
held by Debtor no later than Aug. 31, 2011.

If the Debtor does not secured a Stalking Horse APA by July 18,
the Debtor will file an open auction sale motion seeking approval
of an auction to be held no later than Aug. 31.

Upon (i) entry of a final non-appealable order authorizing the
sale of the Assets (ii) the closing on the sale and (iii) receipt
by BofA of all net sales proceeds, BofA will waive and release all
of its interests in the Excess Cash Collateral for the benefit of
the estate; provided, however, that the maximum amount of Excess
Cash Collateral to be released by BofA will be $105,000 with any
Excess Cash Collateral in excess of $105,000 to be paid to BofA.
If BofA and the Debtor elect to proceed by way of relief from stay
as opposed to an open auction, the Excess Cash Collateral will be
paid over to BofA.

If (i) Debtor seeks to pursue confirmation of a plan of
reorganization in lieu of a sale of the Assets over the objection
of BofA or (ii) it is determined by the Court that Debtor has
intentionally and materially either interfered with or failed to
diligently pursue the sale process, the Debtor and its
professionals will immediately turnover all Cash Collateral in
their possession with the exception of $240,000 previously paid to
Debtor's counsel Taft Stettinius and Hollister LLP.

A full-text copy of the Cash Collateral Order with the budget is
available for free at http://ResearchArchives.com/t/s?7687

                 About Buttermilk Towne Center LLC

Cincinnati, Ohio-based Buttermilk Towne Center LLC, owns and
operates a commercial real estate development, known as Buttermilk
Towne Center, located in Crescent Springs, Kenton County,
Kentucky.

The Company filed for Chapter 11 bankruptcy protection (Bankr.
E.D. Ky. Case No. 10-21162) on April 28, 2010.  Timothy J. Hurley,
Esq., and Paige Leigh Ellerman, Esq., at Taft Stettinius &
Hollister LLP, in Cincinnati, Ohio, serve as the Debtor's counsel.
The Company disclosed $28,999,954 in assets and $41,085,856 in
liabilities as of the Petition Date.


CAREFREE WILLOWS: Can Hire Law Offices of Alan R. Smith as Counsel
------------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Nevada has granted
Carefree Willows, LLC, permission to employ the Law Offices of
Alan R. Smith as its counsel, nunc pro tunc to March 15, 2011.

As reported in the TCR on April 25, 2011, as the Debtor's counsel,
the Law Offices of Alan R. Smith will:

   (a) render legal advice with respect to the powers and duties
       of the Debtor that continue to operate its business and
       manage its properties as debtor-in -possession;

   (b) negotiate, prepare and file a plan or plans of
       reorganization and disclosure statements in connection with
       those plans, and otherwise promote the financial
       rehabilitation of the Debtor;

   (c) take all necessary action to protect and preserve the
       Debtor's estate, including the prosecution of actions on
       the Debtor's behalf, the defense of any actions commenced
       against the Debtor, negotiations concerning all litigation
       in which the Debtor is or will become involved, and the
       evaluation and objection to claims filed against the
       Debtor's estate;

   (d) prepare, on behalf of the Debtor, all necessary
       applications, motions, answers, orders, reports and papers
       in connection with the administration of the Debtor's
       estate, and appear on behalf of the Debtor at all Court
       hearings in connection with the Debtor's case;

   (e) render legal advice and perform general legal services; and

   (f) perform all other necessary legal services in connection
       with the Chapter 11 case.

The Debtor will pay the Law Offices of Alan R. Smith's
professionals according to their customary hourly rates:

   Name                    Title               Rate per Hour
   ----                    -----               -------------
   Alan R. Smith           Member                  $450
   John G. Gezelin         Attorney                $300
   Peggy L. Turk           Paraprofessional        $205
   Merrilyn Marsh          Paraprofessional        $205

Other paraprofessionals charge at $75 to $105 per hour.

Mr. Smith says -- mail@asmithlaw.com -- his firm is a
"disinterested person" as the term is defined in Section 101(14)
of the Bankruptcy Code.

                    About Carefree Willows LLC

Carefree Willows LLC is the owner of 300-unit Carefree Senior
Living in Las Vegas, Nevada.  Carefree Willows filed a Chapter 11
petition (Bankr. D. Nev. Case No. 10-29932) on Oct. 22, 2010.  In
its schedules, the Debtor disclosed $30,604,014 in assets and
$36,531,244 in liabilities.


CHARLESTON ASSOCIATES: Committee Wants Atty. Fees in Cash Budget
----------------------------------------------------------------
The Official Committee of Unsecured Creditors of Charleston
Associates, LLC, asks the U.S. Bankruptcy Court for the District
of Delaware to continue the hearing on the Debtor's continued use
of cash collateral.

The Committee asks that the Debtor and secured lender make
adequate provision for the payment of allowed Committee
professional fees.

The Committee reserves its rights to seek relief with respect to
the estate funds held as a security retainer by counsel to the
Debtor, to the extent that the Committee is unable to negotiate an
adequate cash collateral budget amount for Committee
professionals.

                  About Charleston Associates

Based in Las Vegas, Nevada, Charleston Associates, LLC, is the
successor by merger to Boca Fashion Village Syndications Group.
It owns a portion of a large community shopping center located in
Las Vegas.  The entire shopping center is known as The Shops at
Boca Park.  It encompasses almost 55 acres and is situated at the
northeast corner of the intersection of Charleston Boulevard and
Rampart Boulevard.  Charleston's current portion of the shopping
center consists of a 20.4 acre parcel located at 700-750 S.
Rampart Boulevard, Las Vegas, that is commonly known as Boca
Fashion Village.  Boca Fashion contains, among other things, a
130,000+ square foot parcel of real estate that is currently
leased to Sears Roebuck & Company.

Charleston Associates filed for Chapter 11 protection (Bankr. D.
Del. Case No. 10-11970) on June 17, 2010.  Judge Kevin J. Carey
presides over the case.  Neal L. Wolf, Esq., Dean C. Gramlich,
Esq., and Jordan M. Litwin, Esq., at Neal Wolf & Associates, LLC,
in Chicago, Ill., represent the Debtor as counsel.  Bradford J.
Sandler, Esq., at Pachulski Stang Ziehl & Jones, LLP, in
Wilmington, Del., represents the Debtor as Delaware counsel.  In
its schedules, the Debtor disclosed $92,348,446 in assets and
$65,064,894 in liabilities.

Attorneys at Brinkman Portillo Ronk, PC, represents the Official
Committee of Unsecured Creditors as counsel.  Thomas M. Horan,
Esq., at Womble Carlyle Sandridge & Rice, PLLC, in Wilmington,
Del., represents the Official Committee of Unsecured Creditors as
Delaware counsel.


CHATHAM MILLS: Owners Working on Reorganization Plan
----------------------------------------------------
Amanda Jones Hoyle at Triangle Business Journal reports that
owners of the historic Chatham Mills campus at Hillsborough St. in
downtown Pittsboro, North Carolina are working on a reorganization
plan to stave off more than $5 million in bank debt that's
weighing on the property.

Hillsborough businessman Tom Roberts and his group of investors
purchased the 80,000-square-foot mill in 1997 and have since
transformed most of the campus into a multi-tenant business park
for startup entrepreneurs, retailers and medical service
professionals, according to the report.

Chatham Mills Development Corp. filed a Chapter 11 petition
(Bankr. M.D.N.C. Case No. 11-80929) on June 9, 2011.  Richard M.
Hutson, II, Esq., at Hutson Law Office, P.A., in Durham, North
Carolina, serves as counsel to the Debtor.  In its schedules, the
Debtor disclosed $6,116,150 in assets and $5,682,651 in
liabilities.


CHRISTOPHER PETERSON: Files for Chapter 7 Bankruptcy
----------------------------------------------------
The Star Tribune in Minnesota reports that Christopher Carsten
Peterson and Amity Lynn Peterson, as surety for Meridius Co. LLC.,
doing business as Dunn Bros. Coffee, 13870 Garrett Av., Apple
Valley, filed for Chapter 7 bankruptcy protection in St. Paul,
Minnesota (Bankr. D. Minn. Case No. 11-34684).  The Debtors
disclosed assets of $224,664; and liabilities of $842,040.


CRAIG LIND: Files for Chapter 7 Bankruptcy Protection
-----------------------------------------------------
The Star Tribune Minnesota reports that Craig Jason Lind, as
surety for BCCE LLC, Worldwide Mortgage & Investments LLC,
Worldwide Research LLC and Apple-Mil LLC, doing business as
Worldwide Lending, 1447 Palace Av., St. Paul, Minnesota, filed for
Chapter 7 bankruptcy protection in St. Paul (Bankr. D. Minn. Case
No. 11-34730).  The Debtor disclosed assets of $1,308,044 and
liabilities of $1,601,316.


CRESCENT RESOURCES: Plan Trustee May Amend Suit Against Ex-Officer
------------------------------------------------------------------
Bankruptcy Judge Craig A. Gargotta denied a motion to dismiss the
lawsuit, Crescent Resources Litigation Trust, by and Dan Bensimon,
Trustee, v. Edward E. Burr, Adv. Proc. No. 11-01013 (Bankr. W.D.
Tex.).  On Feb. 16, 2011, the Crescent Resources Litigation Trust
filed an adversary complaint against Edward E. Burr, manager and
co-owner of LandMar Group LLC, a debtor-subsidiary of Crescent,
until Nov. 19, 2007.  Mr. Burr was also an officer of Crescent.
The complaint seeks to avoid three alleged transfers arising out
of two transactions between Mr. Burr and Crescent and LandMar.
The first transaction in the complaint alleges that in April 2007,
LandMar Group borrowed money from Crescent so that LandMar could
give Mr. Burr $1.925 million to cover his personal income tax
liabilities. The second transaction allegedly occurred in November
2007 and consisted of an employment separation agreement between
Crescent and Mr. Burr, whereby Mr. Burr's employment was
terminated and his 20% interest in LandMar was conveyed to
Crescent in exchange for $4.5 million in cash plus the forgiveness
of over $71 million debt owed to Crescent.

Judge Gargotta said (1) Crescent's Plan of Reorganization
preserved the claims made in the Complaint under 11 U.S.C.
Sections 544, 548, and 550 and turnover claims with language which
was specific and unequivocal, and (2) the Plan does not preserve
the claims made in the Complaint under "state fraudulent transfer
law."  The Court grants leave for the Plaintiff to amend the
Complaint.

A copy of Judge Gargotta's July 22, 2011 Memorandum Opinion is
available at http://is.gd/BcK4hGfrom Leagle.com.

                      About Crescent Resources

Crescent Resources, LLC -- http://www.crescent-resources.com/--
was a real estate development and management organization which
developed, owned, leased, managed, and sold real estate since
1969.  Crescent Resources and its debtor-affiliates filed for
Chapter 11 protection (Bankr. W.D. Tex. Lead Case No. 09-11507) on
June 10, 2009.  Judge Craig A. Gargotta presided over the case.
Eric J. Taube, Esq., at Hohmann, Taube & Summers, L.L.P., served
as the Debtors' bankruptcy counsel.  On Dec. 20, 2010, the Court
signed an order confirming the Debtors' Revised Second Amended
Joint Plan of Reorganization.


CRESCENT RESOURCES: Plan Assigned Attorney-Held Files to Trust
--------------------------------------------------------------
Bankruptcy Judge Craig A. Gargotta held that (1) Crescent
Resources, LLC's Plan of Reorganization and related documents
effectively transferred ownership of any attorney-held files owned
by the Debtor to the Litigation Trust established under the Plan,
and (2) the Plan preserved turnover claims with language which was
specific and unequivocal.

On Sept. 3, 2010, the Trust filed an adversary complaint against
Duke Energy Corporation, et al.  The complaint alleges that a 2006
transaction which created Crescent Resources rendered the Debtors
insolvent.  The 2006 transaction involved Crescent Resources
borrowing approximately $1.5 billion, using the assets of Crescent
Resources as collateral.  Crescent Resources then transferred
$1.187 billion of those loan proceeds to its parent, Duke
Ventures, LLC.  The Trust alleges that this transaction left
Crescent Resources insolvent and the complaint seeks return of the
$1.187 billion under, inter alia, theories of state law fraudulent
transfers.

On Sept. 16, 2010, the Litigation Trust sought documents held by
Robinson, Bradshaw & Hinson, P.A., the Debtors' special counsel,
that related to work done by RBH for the Debtors.  RBH responded
that they were concerned about Duke's confidentiality rights in
the requested documents as a sole or joint client of RBH.  Since
then, there have been months of status conferences and proceedings
that have unduly slowed the process.  On Jan. 21, 2011, in a
meeting held in the Court's chambers between representatives from
the Trust and Duke Energy, it was agreed that the parties would
take a step back from the turnover issues and instead focus on
whether, as a matter of law, Duke has any right to assert a
privilege as to the RBH files.  The Court held a hearing Feb. 17,
2011, to consider whether Duke had any right to assert a privilege
as to the RBH files.  As the Court was working on this issue, Duke
filed an Expedited Motion to Dismiss Turnover Proceedings for Lack
of Jurisdiction on May 9, 2011.  On May 31, 2011, the Trust
opposed the Motion.

In his July 22, 2011 Memorandum Opinion, Judge Gargotta denied the
Motion to Dismiss, saying the Trust has standing to pursue
turnover claims and the Court has subject matter jurisdiction.  A
copy of the Court's ruling is available at http://is.gd/DSxSu4
from Leagle.com.

In a separate ruling, Judge Gargotta directed RBH to turn over to
Dan Bensimon, Trustee for the Crescent Resources Litigation Trust,
all files and records relating to RBH's representations of
Crescent Resources, in whatever form they are held, including
matters in which Crescent was a joint client of RBH.  The Trust's
use of these documents is limited only to the client files
relating to the 2006 Duke Transaction.  RBH shall account, in
writing, for each and every document in those files and records
that has removed, moved, or altered in any way, including, but not
limited to the identification of the specific location from which
any documents were removed.  A copy of this ruling is available at
http://is.gd/xbVnrLfrom Leagle.com.

                      About Crescent Resources

Crescent Resources, LLC -- http://www.crescent-resources.com/--
was a real estate development and management organization which
developed, owned, leased, managed, and sold real estate since
1969.  Crescent Resources and its debtor-affiliates filed for
Chapter 11 protection (Bankr. W.D. Tex. Lead Case No. 09-11507) on
June 10, 2009.  Judge Craig A. Gargotta presided over the case.
Eric J. Taube, Esq., at Hohmann, Taube & Summers, L.L.P., served
as the Debtors' bankruptcy counsel.  On Dec. 20, 2010, the Court
signed an order confirming the Debtors' Revised Second Amended
Joint Plan of Reorganization.


DEB SHOPS: To Hold Auction for Business on Aug. 31
--------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports Deb Shops Inc. was given authority to hold an auction on
Aug. 31 testing whether an offer from secured lenders is the best
bid for the business.  The bankruptcy court in Wilmington,
Delaware, also gave final approval July 21 for $21.7 million in
secured financing.  Other bids must be submitted by Aug. 24.  The
hearing to approve the sale is set to take place Sept. 13. Unless
outbid, lenders led by Ableco Finance LLC will purchase the
business in 44 states in exchange for $75 million in secured debt.
The lenders are also providing the financing.  The lenders have
the right to withhold the last $6.7 million in financing.

                         About Deb Shops

Deb Shops Inc., is a closely held women's-clothing retailer based
in Philadelphia.  Deb Shops sells junior and large-size clothing
for girls and women ages 13 to 25 through more than 320 U.S.
stores and through debshops.com.  It was bought out by the New
York investment firm Lee Equity Partners in October 2007.

DSI Holdings Inc. and 54 affiliates, including Deb Shops, sought
bankruptcy protection (Bankr. D. Del. Lead Case No. 11-11941) on
June 26, 2011, to sell all assets under 11 U.S.C. Sec. 363.  As of
April 30, 2011, the Debtors' unaudited financial statements
reflected assets totaling $124.4 million and liabilities totaling
$270.1 million.

Lawyers at Weil Gotshal & Manges LLP and Richards, Layton & Finger
P.A. serve as bankruptcy counsel.  Rothschild Inc. serves as the
Debtors' investment banker and financial advisors.  Sitrick &
Company serves as public relations consultants.  Kurtzman Carson
Consultants LLC serves as their claims and noticing agent.

Ableco, the DIP Agent is represented by Michael L. Tuchin, Esq.,
and David A. Fidler, Esq., at Klee Tuchin Bogdanoff & Stern LLP.
Conway Del Genio serves as financial advisors to the first lien
lenders.  Schulte Roth serves as corporate and tax advisors to the
First Lien Lenders.  Another lender, Lee DSI Holdings, is
represented by Jennifer Rodburg, Esq., at Fried Frank Harris
Shriver & Jacobson LLP.


DELHI MINI: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: Delhi Mini Storage
        3230 W. Monte Vista, Unit 133
        Turlock, CA 95380

Bankruptcy Case No.: 11-92599

Chapter 11 Petition Date: July 22, 2011

Court: U.S. Bankruptcy Court
       Eastern District of California (Modesto)

Judge: Ronald H. Sargis

Debtor's Counsel: David C. Johnston, Esq.
                  JOHNSTON & JOHNSTON LAW CORP.
                  627 13th Street, Suite E
                  Modesto, CA 95354
                  Tel: (209) 579-1150

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

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

The Company did not file a list of creditors together with its
petition.

The petition was signed by Tracy L. Myers, general partner.


DONALD THOMPSON: All Stars Camps Owner Files for Bankruptcy
-----------------------------------------------------------
Natalie McGill at Gazette.Net reports that Donald Thompson, owner
of All Star Camps LLC, has filed for Chapter 7 bankruptcy in the
U.S. Bankruptcy Court in the District of Maryland.  According to
the report, Mr. Thompson told staff early this month there was a
problem with camp funds being in the wrong account so staff would
have their paychecks delayed.  About 60 campers at three sites
including Jericho's were left in the dust after Thompson filed for
bankruptcy, according to the report.


DYNAMIC BUILDERS: Wants to Sell WFC Asset to BofA Via Credit Bid
----------------------------------------------------------------
Dynamic Builders Inc., asks the U.S. Bankruptcy Court for the
Central District of California for authorization to sell the real
properties located at (a) 2914 East Washington Boulevard, Los
Angeles, California, which consists of a vacant land; and (b) 3020
- 3090 East Washington Boulevard, Los Angeles, California, which
parcels are improved with a cold storage and food processing
facility.  Dynamic wants to sell the properties to Bank of
America, N.A., or its designated nominee, Quality Properties Asset
Management Company, an Illinois corporation, via credit bid, free
and clear of designated liens, claims and encumbrances.

As of Dec. 16, 2010, Bofa was owed in excess of $52,000,000 on the
debt secured by the WFC Property.

The sale or sales are contemplated in the Plan Term Sheet entered
by the parties on December 2010.  Postpetition, the Debtor entered
into negotiations with its various lenders including BofA, in an
effort to propose a consensual plan of reorganization for Dynamic
and its principals, L. Ramon and Patty Bonin, who are Debtors in a
separate Chapter 11 proceeding.

The Debtor also requests for authorization to:

   -- assume and assign to BofA or QPAM of the existing tenant
   leases relating to the WFC Property; and

   -- turnover to BofA all postpetition rents or cash collateral
   on hand as of the date of the transfer of the WFC Property,net
   of all postpetition expenses associated with the maintenance
   and operation of the property while in the Debtor's possession
   and control.

The Debtor notes that it leases individual warehouse units at the
WFC Property to third party tenants pursuant to the terms of
commercial lease agreements.

                   About Dynamic Builders Inc.

Dynamic Builders Inc. is a Los Angeles-based real estate
developer.  Founded in 1964 by L. Ramon Bonin, Dynamic Builders is
principally involved in the construction of build to suit
commercial/industrial buildings in the Los Angeles area.

Dynamic Builders owns properties in Los Angeles, Carson, San
Leandro, and Commerce, California, with total value of
$130,790,612.  Secured lenders who financed the acquisition of the
properties are owed a total of $113,181,128.

L. Ramon Bonin and Patty A. Bonin, the shareholders of the Company
and guarantors of the institutional debt, sought Chapter 11
protection (Bankr. C.D. Calif. Case No. 10-14067) on March 31,
2011.  James C. Bastian, Jr., Esq., at Shulman Hodges & Bastian
LLP, represents the Bonins in their Chapter 11 case.

Dynamic Builders filed for Chapter 11 bankruptcy protection on
March 31, 2010 (Bankr. C.D. Calif. Case No. 10-14151).  The
Company estimated its assets and debts at $100 million to
$500 million as of the Chapter 11 filing.  It identified Comerica
Bank, with a claim of $29.6 million, as the largest unsecured
creditor.

Todd C. Ringstad, Esq., and Nanette D. Sanders, Esq., at Ringstad
& Sanders, LLP, in Irvine, Calif., represent the Debtor as
bankruptcy counsel.  Shaw Financial Services, Inc. serves as the
Debtor's bookkeeper for bankruptcy reporting requirements and as
its tax preparer.  Bird, Marella, Boxer, Wolpert, Nessim, Drooks &
Lincenbert acts as special litigation counsel in certain
proceeding affecting Dynamic's rights in properties located at
1124 and 1135 S. Boyle Avenue.  Axis Business Advisory Services,
LLC, serves as the Debtor's financial consultants.


DYNEGY HOLDINGS: PSEG Oppose Transfer of Assets to New Units
------------------------------------------------------------
Roseton OL, LLC and Danskammer OL, LLC, indirect subsidiaries of
Public Service Enterprise Group have filed suit against Dynegy
Holdings Inc. in the Delaware Court of Chancery to halt DHI's
proposed transfer of certain of its coal and natural gas power
assets to new "bankruptcy remote" subsidiaries.  The PSEG entities
are owner-lessors of the Danskammer and Roseton electric
generating facilities.  The lessees are indirect subsidiaries of
Dynegy, Inc. and Dynegy Holdings, LLC (DHI).  DHI has guaranteed
to the PSEG entities the obligations of the lessees under the
leases. As of March 31, 2011, the PSEG Entities had a gross equity
investment at risk in the Roseton and Danskammer leases of $270
million.

DHI announced on July 11, 2011 that it intended to transfer
certain of its coal and natural gas power assets to bankruptcy
remote entities, while transferring its Roseton and Danskammer
generating stations lessee interests to an ordinary subsidiary
under DHI. The plaintiffs contend that the proposed DHI transfer
of its ass ets is a violation of the DHI guaranty and are
therefore seeking a temporary restraining order and permanent
injunction preventing DHI from consummating these proposed
transfers.

Headquartered in Houston, Texas, DHI is an independent power
producer that owns a portfolio of 11,596 MW electric generating
assets. DHI is wholly-owned by Dynegy, Inc.

                         About Dynegy Inc.

Through its subsidiaries, Houston, Texas-based Dynegy Inc.
(NYSE:DYN) -- http://www.dynegy.com/-- produces and sells
electric energy, capacity and ancillary services in key U.S.
markets.  The power generation portfolio consists of approximately
12,200 megawatts of baseload, intermediate and peaking power
plants fueled by a mix of natural gas, coal and fuel oil.

                          Failed Sale

The Troubled Company Reporter has chronicled Dynegy's attempts to
sell itself.  In August 2010, Dynegy struck a deal to be acquired
by an affiliate of The Blackstone Group at $4.50 a share or
roughly $4.7 billion.  That offer was raised to $5.00 a share in
November.  Through Carl Icahn and investment fund Seneca's
efforts, shareholders thumbed down both offers.

In December 2010, an affiliate of Icahn commenced a tender offer
to purchase all of the outstanding shares of Dynegy common stock
for $5.50 per share in cash, or roughly $665 million in the
aggregate.  In February 2011, Icahn Enterprises L.P. terminated
the proposed merger agreement with the Company after it failed to
garner the required number of shareholder votes.

Goldman, Sachs & Co. and Greenhill & Co., LLC, served as financial
advisors and Sullivan & Cromwell LLP served as legal counsel to
Dynegy on the sale efforts.

                       Bankruptcy Warning

Dynegy warned shareholders in March it might be forced into
bankruptcy if it is unable to renegotiate the terms of its
existing debt.

The Company's balance sheet at March 31, 2011, showed $9.82
billion in total assets, $7.15 billion in total liabilities and
$2.67 billion in total stockholders' equity.

Ernst & Young LLP, in Houston, said that Dynegy projects that it
is likely that it will not be able to comply with certain debt
covenants throughout 2011.  "This condition and its impact on
Dynegy Inc.'s liquidity raises substantial doubt about Dynegy
Inc.'s ability to continue as a going concern."

                         *     *     *

In July 2011, Moody's downgraded Dynegy Holdings' probability of
default rating to 'Ca' from 'Caa3'.  "The downgrade of DHI's PDR
and senior unsecured notes to Ca reflects the increased likelihood
of a distressed debt exchange transaction occurring within the
next several months following today's announcement of a corporate
reorganization that seeks to modify asset ownership within DHI
through the formation of several wholly-owned subsidiaries", said
A.J. Sabatelle, Senior Vice President of Moody's. "Separate
financing arrangements being established at these subsidiaries
will have annual limits placed on the amount of cash flow that can
be paid to their indirect parent, which Moody's believes raises
default prospects for DHI's senior unsecured notes and the
company's lease", added Sabatelle.


FALLS AT TOWN: Files Schedules of Assets & Liabilities
------------------------------------------------------
Falls at Towne Crossing, LLC, filed with the U.S. Bankruptcy Court
for the Western District of Minnesota, its schedules of assets and
liabilities, disclosing:

  Name of Schedule               Assets                Liabilities
  ----------------              -------                -----------
A. Real Property               $25,000,000
B. Personal Property              $301,700
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                      $24,300,000
E. Creditors Holding
   Unsecured Priority
   Claims                                                       $0
F. Creditors Holding
   Unsecured Non-priority
   Claims                                                  $70,890
                               -----------             -----------
      TOTAL                    $25,301,700             $24,370,890

              About The Falls at Towne Crossing and
                 Geneva Multi-Family Exchange XIV

Geneva Multi-Family Exchange XIV LLC owns the 336-unit Falls at
Towne Crossing apartment project in Mansfield, Texas.  Geneva
Multi-Family Exchange XIV and affiliate The Falls at Towne
Crossing, LLC, c/o Exchange Realty Inc., based in Minneapolis,
Minnesota, filed separate Chapter 11 bankruptcy petitions (Bankr.
D. Minn. Case Nos. 11-44562 and 11-44563) on July 5, 2011.  Judge
Dennis D. O'Brien presides over the case.

Geneva Multi-Family Exchange XIV LLC disclosed $25.5 million in
assets and $24.3 million in debts in its petition.  Falls at Towne
Crossing estimated assets and debts of $10 million to $50 million.
The petitions were signed by Duane H. Lund, chief manager.


FRED LEIGHTON: Former Owner to Serve 6 Years in Prison Over Fraud
-----------------------------------------------------------------
International Diamond Exchange reports that federal Judge Denise
Cote has sentenced Ralph Esmerian, the former owner of the high-
end jewelry retailer Fred Leighton, to six years in prison for
fraud.  The sentence follows Mr. Esmerian guilty plea in April to
wire fraud, bankruptcy fraud and concealing assets.  Mr. Esmerian
was also ordered to perform 1,800 hours of community service and
forfeit $20 million.

In 2006, Mr. Esmerian sold $5 million of the jewelry pledged as
collateral and later double-pledged $6 million more to secure a
new loan.  Mr. Esmerian allegedly wired money from the sold
collateral to his personal bank account even after Fred Leighton
filed for bankruptcy, according to the report.

                        About Fred Leighton

Fred Leighton Holding, Inc. -- http://www.fredleighton.com/-- is
a New York-based jewelry retailer owned by Ralph O. Emerian.  Fred
Leighton has decked countless red-carpet-dwellers in diamonds,
including Sarah Jessica Parker, Nicole Kidman, and Catherine Zeta-
Jones.

Fred Leighton and its affiliates filed voluntary petitions for
relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y.,
Case No. 08-11363) on April 15, 2008.  Joshua Joseph Angel, Esq.,
and Frederick E. Schmidt, Esq., at Herrick, Feinstein LLP, in New
York, represent the Debtors.  The Official Committee of Unsecured
Creditors has retained Michael Z. Brownstein, Esq., and Rocco A.
Cavaliere, Esq., at Blank Rome LLP, as counsel.  Fred Leighton
listed total assets of $128,551,467 and total liabilities of
$134,814,367 in its schedules.

The Bankruptcy Court approved in November 2009 the sale of Fred
Leighton Holding Inc.'s business operations for $25.8 million in
cash to investors including a group of private equity firms and
estate jewelry seller Windsor Jewelers Inc.


G&S LIVINGSTON: Files for Chapter 11 With Prepack
-------------------------------------------------
G&S Livingston Realty Inc. filed a Chapter 11 petition (Bankr. D.
N.J. Case No. 11-31751) in Newark, New Jersey.  Bill Rochelle, the
bankruptcy columnist for Bloomberg News, reports that G&S
Livingston is the owner of the Daven Avenue Shopping Center in
Livingston, New Jersey.  The 122,000 square-foot shopping center
was forced into its own bankruptcy by the bankruptcy of three of
four tenants.  The liquidated tenants are Circuit City Stores
Inc., Linens `n Things Inc., and Borders Group Inc.  The fourth
tenant, Old Navy Apparel LLC, terminated its lease under an escape
clause that came into effect when other stores became vacant.

According to Mr. Rochelle, G&S Livingston Realty worked out the
restructuring in advance of the bankruptcy filing with KABR Real
Estate Investment Partners LLC, the parent company for the holder
of the $28.125 million mortgage.  The plan calls for unsecured
creditors to be paid in full.  The current owner will share
ownership of the project with the lender after emergence from
bankruptcy by contributing the property and about $2 million cash
and other consideration.


G&S LIVINGSTON: Case Summary & 15 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: G&S Livingston Realty, Inc
        211 E 43rd St.
        New York, NY 10017

Bankruptcy Case No.: 11-31751

Chapter 11 Petition Date: July 21, 2011

Court: United States Bankruptcy Court
       District of New Jersey (Newark)

Judge: Morris Stern

Debtor's Counsel: Stephen V. Falanga, Esq.
                  CONNELL FOLEY LLP
                  85 Livingston Avenue
                  Roseland, NJ 07068
                  Tel: (973) 535-0500
                  Fax: (973) 535-9217
                  E-mail: sfalanga@connellfoley.com

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

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

The petition was signed by Greg Wasser, president.

Debtor's List of 15 Largest Unsecured Creditors:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
G&S Investors, Inc.                              $1,036,879
211 East 43rd St.
New York, NY 10017

CVS Pharmacy, Inc.                               $807,500
c/o Jason St. John, Esq.
Saul Ewing LLP
500 East Pratt Street
Baltimore, MD
21202-3133

Willow Park                                      $327,688
Enterprises, Inc.
211 East 43rd St.
New York, NY 10017

Farmingdale Maintenance                          $283,867
Services, Inc.
P.O. Box 521
Rye, NY 10580

Reed Smith, LLP                                  $61,993

Jersey City                                      $12,000
Associates, Inc.

Essex Design                                     $4,280
Contractors, Inc.

Jersey Central Power                             $4,219
& Light

Casey & Keller, Inc.                             $3,840

Around the Clock                                 $2,618
Sweeping

Hamal Associates, Inc.                           $1,572

Rotwein & Blake,                                 $900
Assoc. Architects, PA

Corporate Services                               $381
Company

Verizon                                          $289

Township of Livingston                           $70


G & G HOTEL: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: G & G Hotel Development, LLC
          fdba Knights Inn
               Ramada Conference Center
          dba Cavalier's Resort Shelbyville
              Cavalier's Resort & Conference Center
        3924 W. Devon Avenue
        Linconwood, IL 60112

Bankruptcy Case No.: 11-29971

Chapter 11 Petition Date: July 22, 2011

Court: U.S. Bankruptcy Court
       Northern District of Illinois (Chicago)

Judge: Jack B. Schmetterer

Debtor's Counsel: Jeffrey W. Deer, Esq.
                  DEER & STONE PC
                  130 S Jefferson, Suite 370
                  Chicago, IL 60661
                  Tel: (312) 782-7790
                  Fax: (312) 782-7789
                  E-mail: jwdeer@aol.com

Scheduled Assets: $2,218,940

Scheduled Debts: $5,868,668

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/ilnb11-29971.pdf

The petition was signed by Gurinderjit Purewal, managing member.


GERALD ROSS: Miami Hotel Owner Files for Personal Bankruptcy
------------------------------------------------------------
Gerald D. Ross and his wife, Frances M. Ross, the owners of the
El Palacio Miami Sports Hotel near Calder Race Course in Miami
Gardens, filed for personal Chapter 11 bankruptcy (Bankr. S.D.
Fla. Case No. 11-30193) on July 21, 2011.

Paul Brinkmann at the South Florida Business Journal reports the
hotel itself is not in bankruptcy.

According to the report, the Rosses claim between $10 million and
$50 million in debt and a similar range of assets.  The Rosses,
who live in Tamarac, bought the former Holiday Inn in 2004 for
$4.6 million.  Records suggest Ross has been involved in various
South Florida real estate deals over the years.

Art Spector of Berger Singerman represents the Debtors.


GLAZIER GROUP: Order Grants Cash Collateral Access Until Sept. 30
-----------------------------------------------------------------
The Hon. Allan L. Gropper of the U.S. Bankruptcy Court for the
Southern District of New York authorized The Glazier Group, Inc.,
to utilize cash collateral until Sept. 30, 2011, provided that an
asset purchase agreement is fully executed by the parties to the
asset sale by July 5, 2011.

If an asset purchase agreement is not executed by all parties to
the asset sale by July 5, the Debtor's authority to use cash
collateral will terminate on July 8, absent further order of the
Court.

As reported in the TCR on Nov. 25, 2010, the Debtor owes GECC
$5.8 million in connection with a certain prepetition loan.  GECC
asserts a perfected security interest against, inter alia, the
Debtor's and its affiliates' inventory and accounts receivable.

In exchange for using the cash collateral, the Debtor will grant
the lender, a valid, binding, enforceable and automatically
perfected lien, and security interest in the Debtor's presently
owned or hereafter acquired property and assets to the extent that
the property and assets would have constituted prepetition
collateral.

                     About The Glazier Group

New York-based The Glazier Group, Inc., filed for Chapter 11
bankruptcy protection (Bankr. S.D.N.Y. Case No. 10-16099) on
Nov. 15, 2010.  Frederick E. Schmidt, Esq., Joshua Joseph Angel,
Esq., and Seth F. Kornbluth, Esq., at Herrick, Feinstein LLP,
represent the Debtor in its restructuring effort.  John Dunne of
Renewal Ventures, LLC, is the Debtor's Chief Restructuring Officer
("CRO").  The Company disclosed assets of $15.2 million and
liabilities of $26.8 million as of the Petition Date.

Ronald J. Friedman, Esq., Katina Brountzas, Esq., and Sheryl P.
Busell, Esq., at SilvermanAcampora LLP, in Jericho, New York,
represent the Official Committee of Unsecured Creditors.  FTI
Consulting, Inc., serves as the Official Committee of Unsecured
Creditors' financial advisor.


GREAT ATLANTIC: Super Fresh Store in Northern Liberties to Open
---------------------------------------------------------------
Linda Loyd at Philly.com reports that Great Atlantic & Pacific Tea
Co. confirmed that it is moving forward with plans to open by the
end of the summer a Super Fresh store in Northern Liberties at the
corner of Second Street and Girard Avenue.  The company said it
expects to open the 51,000-square-foot Super Fresh by the end of
the summer.

                  About Great Atlantic & Pacific

Founded in 1859, Montvale, New Jersey-based Great Atlantic &
Pacific is a leading supermarket retailer, operating under a
variety of well-known trade names, or "banners" across the mid-
Atlantic and Northeastern United States.  It operates 395
supermarkets, combination food and drug stores, beer, wine, and
liquor stores, and limited assortment food stores in Connecticut,
Delaware, Massachusetts, Maryland, New Jersey, New York,
Pennsylvania, Virginia, and the District of Columbia.  "Banners"
include A&P (101 stores), Food Basics (12 stores), Pathmark (128
stores), Super Fresh (57 stores), The Food Emporium (16 stores),
and Waldbaum's (59 stores).

A&P employs roughly 41,000 employees, including roughly 28,000
part-time employees.  Roughly 95% of the workforce are covered by
collective bargaining agreements.

A&P and its affiliates filed Chapter 11 petitions (Bankr. S.D.N.Y.
Case No. 10-24549) on Dec. 12, 2010 in White Plains, New York.  In
its petition, A&P reported total assets of $2.5 billion and
liabilities of $3.2 billion as of Sept. 11, 2010.

Paul M. Basta, Esq., James H.M. Sprayregen, Esq., and Ray C.
Schrock, Esq., at Kirkland & Ellis, LLP, in New York, and James J.
Mazza, Jr., Esq., at Kirkland & Ellis LLP, in Chicago, Illinois,
serve as counsel to the Debtors.  Kurtzman Carson Consultants LLC
is the claims and notice agent.  Lazard Freres & Co. LLC is the
financial advisor.  Huron Consulting Group is the management
consultant.  Dennis F. Dunne, Esq., Matthew S. Barr, Esq., and
Abhilash M. Raval, Esq., at Milbank, Tweed, Hadley & McCloy LLP,
represent the Official Committee of Unsecured Creditors.


GSC GROUP: Gets Nod to Expand Scope of Ernst & Young Employment
---------------------------------------------------------------
James L. Garrity, Jr., as chapter 11 trustee for GSC Group,
Inc., and its debtor-affiliates, sought and obtained authority
from the U.S. Bankruptcy Court for the Southern District of New
York to expand the scope of employment of Ernst & Young LLP to
include additional tax services, nunc pro tunc to June 3, 2011,
pursuant to the terms of an approved additional statement of work
dated as of May 18, 2011, and to pay fees and expenses to the
firm.

The Additional Tax SOW is issued pursuant to the Master Tax
Services Agreement dated August 31, 2010, which was approved by
the Original Retention Order.

The Additional Tax Services include:

   * Providing audit assistance with respect to the New Jersey
     Division of Taxation's examination of the sales and use tax,
     corporation business tax, and gross income tax liabilities
     of Debtor GSCP (NJ) LP, including meeting with the New
     Jersey Division of Taxation Auditors and Supervisor to
     define the scope and parameters of the existing audit,
     responding to questions from the auditors on behalf of the
     Debtors throughout the course of the audit, meeting with
     the Debtors and providing assistance in order to compile
     documentation and records requested by the auditors,
     analyzing documentation and evaluating taxability issues,
     performing research, and assisting in other matters related
     to the audit as needed.

   * Preparing Form TD F 90-22.1 -- Report of Foreign Bank and
     Financial Accounts -- for the years ending December 31,
     2010, and December 31, 2011, for Debtors GSC Group, Inc.,
     GSCP (NJ) LP, GSCP (NJ) Holdings LP, and GSCP LLC.

The Original Retention Order remains in effect and applicable to
Ernst & Young's performance of the Additional Tax Services.

The firm continues to be disinterested as that term is defined in
Section 101(14) of the Bankruptcy Code and not represent an
interest adverse to the Trustee or to the Debtors or their
estates, rules the Court.

                         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.


JAMES LAWRENCE: Files for Chapter 7 Bankruptcy Protection
---------------------------------------------------------
The Star Tribune Minnesota reports that James Robert Lawrence,
doing business as Brewster's Sea & Ski, and Jeannine Brisebois
Crenian, 18298 82nd Place N., Maple Grove, filed for Chapter 7
bankruptcy protection in Minneapolis (Bankr. D. Minn. Case No. 11-
44826).  The Debtor listed assets of $350,138; and liabilities of
$609,825.


JEFFERSON, AL: To Decide on Bankruptcy Filing at Thursday Meeting
-----------------------------------------------------------------
The Associated Press reports that the Jefferson County Commission
will hold a special meeting on Thursday in Birmingham, Alabama, to
decide whether to continue trying to work out a deal with
creditors or file bankruptcy over a sewer system debt of more than
$3 billion.  The county has submitted a repayment plan to
creditors including JPMorgan Chase to eliminate almost
$1.3 billion of the debt, but it's yet to get a response.


JERRY TROOIEN: Reorganization Plan Confirmed Absent Objections
--------------------------------------------------------------
Jennifer Bjorhus at The Star Tribune reports that U.S. Bankruptcy
Judge Nancy Dreher confirmed Jerry Trooien's reorganization plan,
calling the lack of objections "a small miracle," and setting the
stage for Trooien to complete the bankruptcy process within 75
days.

According to the report, most of Mr. Trooien's creditors will be
settling for a small fraction of the $90 million that Mr. Trooien
owes them, but they figured they will be better off letting
Trooien try to strengthen his assets rather than forcing him into
liquidation. Reorganizing, creditors would get about $7.7 million;
liquidating, about $1.3 million.

Under the bankruptcy deal, Mr. Trooien keeps three service
companies from which he had been taking nearly $30,000 a month in
salary.  He also will be partners with his creditors.  They will
split ownership of core Twin Cities properties, such as the
Sheraton hotel in Woodbury and the TriTech building in downtown
Minneapolis, and creditors will receive half the equity in most of
the properties in five years.

Mr. Trooien's plan is to attract new investors and get lenders to
modify the loans.

Mark Reilly, managing editor at Minneapolis/St. Paul Business
Journal, reports some of the creditors support the plan, though
Banc of America Leasing & Capital with a $23.6 million claim
against Mr. Trooien does not.

Based in St. Paul, Minnesota, Gerald Trooien aka Jerry Trooien
filed for Chapter 11 bankruptcy protection (Bankr. D. Minn. Case
No. 10-37695) on Oct. 25, 2010.  Judge Nancy C. Dreher presides
over the case.  Douglas W. Kassebaum, Esq., and James L. Baillie,
Esq., at Fredrikson & Byron, P.A., represent the Debtor.  The
Debtor estimated assets between $1 million and $10 million, and
debts between $100 million and $500 million.


JURGEN TOFT: U.S. Court Won't Compel ISPs to Produce Emails
-----------------------------------------------------------
Bankruptcy Judge Allan L. Gropper denied a request by a receiver
to enforce in the United States a Mail Interception Order issued
by a German court.  The Mail Interception Order would have
compelled U.S. Internet service providers AOL, Inc. and 1&1 Mail &
Media, Inc., to disclose to Dr. Martin Prager, the insolvency
administrator in a proceeding in Germany regarding orthopedic
surgeon Dr. Jurgen Toft, all of Dr. Toft's e-mails currently
stored on the ISPs' servers and to deliver to Dr. Prager copies of
all e-mails received by the Debtor in the future.

"This is one of the rare cases in which an order of recognition on
the terms requested would be manifestly contrary to U.S. public
policy, reflected in rights that are based on fundamental
principles of protecting the secrecy of electronic communications,
limiting the powers of an estate representative, and providing
notice to parties whose rights are affected by a court order,"
according to Judge Gropper.

Dr. Prager initiated a chapter 15 proceeding (Bankr. S.D.N.Y. Case
No. 11-11049) for the purpose of gaining access to Dr. Toft's e-
mail accounts stored on U.S. servers.  Dr. Toft assertedly has
debts exceeding EUR5.6 million -- US$7.6 million -- owed to about
110 creditors.

The Verified Chapter 15 Petition states that the Debtor otherwise
has no assets in the United States, is not a party to any lawsuits
pending in the United States, and is not believed to be currently
residing in the United States.

The German proceeding was initiated before the Munich District
Insolvency Court on June 10, 2010.  It is represented that Dr.
Toft refused to cooperate with the administrator and has in fact
secreted his assets and relocated to an unknown country outside of
Europe, possibly the Philippines.

On July 8, 2010, in accordance with what is alleged to be common
German practice, the German Court entered a "Mail Interception
Order" authorizing Dr. Prager to intercept Dr. Toft's postal and
electronic mail.  Having received information that Dr. Toft might
have relocated to London, Dr. Prager initiated a proceeding on
Jan. 28, 2011 in England.  The English High Court of Justice
issued an ex parte order on Feb. 16, 2011, which granted
recognition and enforcement to the German Mail Interception Order.

Dr. Prager seeks ex parte relief in the U.S. Court.  He has
requested that no notice be required if relief is granted so that
he can continue to investigate the affairs of a debtor whose
intransigence, obstructionism, and evasive tactics have allegedly
thwarted the German insolvency proceeding.

Judge Gropper's ruling is without prejudice to the right of the
Foreign Representative to seek recognition of the German
proceeding as a foreign main proceeding after providing notice
pursuant to Bankruptcy Rule 2002(q) and without prejudice to the
grant of other appropriate relief consistent with U.S. public
policy thereafter.

A copy of Judge Gropper's July 22, 2011 Memorandum of Opinion is
available at http://is.gd/3GabG7from Leagle.com.

U.S. counsel for the Insolvency Administrator is:

          Judith Elkin, Esq.
          HAYNES AND BOONE, LLP
          30 Rockefeller Plaza, 26th Floor
          New York, NY 10112
          Tel: 212-659-4968
          Fax: 212-884-8228
          E-mail: judith.elkin@haynesboone.com


LOS ANGELES DODGERS: U.S. Trustee Forms Creditors Committee
-----------------------------------------------------------
Roberta A. Deangelis, United States Trustee for Region 3, under 11
U.S.C. SEC 1102(a) and (b), appointed four unsecured creditors to
serve on the Official Committee of Unsecured Creditors of Los
Angeles Dodgers LLC.

The Creditors Committee members are:

      1. AVM Systems Limited Partnership
         ATTN:  Jack Armbruster
         1163 Flanders Court,
         Aurora, IL 60504
         Tel:  (630) 820-9638
         Fax:  (630) 820-9635

      2. Elizabeth Ann Stow and/or David Edward Stow, as
         Conservators to Bryan Stow,
         ATTN:  Christopher T. Aumais, Esq.,
         Girardi & Keese,
         1126 Wilshire Blvd., Los Angeles,
         CA 90017,
         Tel:  (213) 977-0211
         Fax:  (213) 481-1554

      3. KABC Radio LLC
         ATTN: Patricia Stratford
         3321 South LeCienage Blvd., Los Angeles,
         CA 90016
         Tel: (212) 297-5867
         Fax:  (212) 735-1791

      4. Major League Baseball Players Association
         ATTN:  Timothy Slavin
         Director of Business Affairs and Licensing/Senior Counsel
         Business
         12th East 49 Street
         New York, NY 10017
         Tel:  (212) 826-0809
         Fax:  (212) 752-4378

      5. Pyro Events, Inc.
         ATTN:  Gary E. Brown
         P.O. Box 2329, Rialto, CA 92377
         Tel: (909) 355-8120
         Fax:  (909) 355-9813

                 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.  Thomas Lauria, Esq., at White & Case,
represents MLB.

Attorneys at Morrison & Foerster LLP and Pinckney, Harris &
Weidinger, LLC, serve as counsel to the Official Committee of
Unsecured Creditors.

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


KIEBLER RECREATION: Jones Lang To Assist Sale of Peek'n Peak
------------------------------------------------------------
Matt Glynn at BuffaloNews.com reports that Jones Lang LaSalle
Hotels, a hotel investment services firm, has been chosen to help
sell the Peek'n Peak Resort and Spa, and the sellers want offers
submitted by Aug. 5, 2011.

According to the report, Jones Lang LaSalle Hotels said it and
Alpine Realty Capital were engaged by the court-appointed trustee
in the bankruptcy case to market the Chautauqua County property
"in an accelerated time frame."

                     About Kiebler Recreation

Peek'n Peak Resort -- http://www.pknpk.com/-- is a recreational
and leisure facility.

Findley Lake, New York-based Kiebler Recreation, LLC, dba Peek'n
Peak Resort, filed for Chapter 11 bankruptcy protection (Bankr.
N.D. Ohio Case No. 10-15099) on May 26, 2010.  Robert C. Folland,
Esq., at Thompson Hine LLP, has withdrawn as counsel to the
Debtor.  The Company estimated assets and debts at $10 million to
$50 million as of the Petition Date.

David O. Simon was appointed by the U.S. Trustee as acting
bankruptcy trustee to the Debtor on June 8, 2011.  Kohrman,
Jackson & Krantz P.L.L. serves as counsel to the Trustee.  The
Trustee tapped Jones Lang LaSalle Americas, Inc., as investment
banker/business broker to market the Debtor's assets.

An affiliate, Kiebler Slippery Rock, LLC, filed a separate Chapter
11 petition on September 25, 2009 (Bankr. N.D. Ohio Case No. 09-
19087).


LA DODGERS: Lawyers Issue Statement on Court Ruling
---------------------------------------------------
Bruce Bennett, attorney for the Los Angeles Dodgers, said:

The Court ruling places the Dodgers in a position to achieve a
debtor-in-possession financing from Major League Baseball, under
the Court's control, that is both economically favorable and
consistent with the Dodgers' objective of maximizing the value of
the estate in the Chapter 11 process.

As made clear in the Order, "the Court is confident that Baseball
will propose to Debtors a short form credit agreement that is
genuinely unsecured in nature and contains minimal - if any -
representations, covenants and warranties, no releases for
prepetition actions and no default triggers for violations of
Baseball's rules and regulations.  The Baseball Loan must be
independent of and uncoupled from Baseball's oversight and
governance of the Dodgers under the Major League Baseball
Constitution.  The Court, if necessary and as always, will provide
ready access to Debtors in the hopefully unlikely event that
Baseball strays from its obligations to act in good faith as
Debtors' lenders."

The debtors will propose, and, to the extent authorized by the
Court, implement procedures that are designed to promote a
competitive sale process of exclusive cable television rights,
while at the same time giving due consideration to the Fox
Telecast Agreement.  The Dodgers expect that a sale or license of
exclusive cable television rights will fully resolve all of the
Dodgers' financial challenges as well as generate value for
holders of the equity interests in the Debtors.

From the Dodgers' perspective, a short form unsecured credit
agreement with MLB, when combined with other sources of revenues,
should provide the Dodgers with ample liquidity to meet team
payroll and other expenses, as the Dodgers proceed forward with
their business plan, with the objective of emerging from the
Chapter 11 process before the end of 2011.

                 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.  Thomas Lauria, Esq., at White & Case,
represents MLB.

Attorneys at Morrison & Foerster LLP and Pinckney, Harris &
Weidinger, LLC, serve as counsel to the Official Committee of
Unsecured Creditors.

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


LA VILLITA: ORIX Capital Wants Case Dismissed or Converted
----------------------------------------------------------
ORIX Capital Markets, LLC, as special servicer for U.S. Bank
National Association, as trustee for GS Mortgage Securities
Corporation II, Commercial Mortgage Pass-Through Certificates,
Series 1999-C1, asks the U.S. Bankruptcy Court for the Western
District of Texas to dismiss or convert the Chapter 11 case of La
Villita Motor Inns, J.V., to one under Chapter 7 of the Bankruptcy
Code.

Orix relates that the Debtor and the trust are parties to a
secured Fixed Rate Note in the principal amount of $8.4 million
and dated as of Sept. 25, 1998, and related loan documents, under
which, as finally determined by the Supreme Court of the State of
Texas, the Debtor owes the trust not less than $7,044,041.

Orix asserts that the case can accomplish no legitimate purpose,
and can only magnify the costs and delays to the estate and its
creditors.

Orix states that the Debtor's plan of reorganization violates
applicable bankruptcy and nonbankruptcy law, is designed to negate
the final judgments of the Texas State Courts, is intended solely
for the benefit of the Debtor's principal, a guarantor under the
loan documents, and is facially unconfirmable.  Accordingly, ORIX
intends, and reserves its rights, to separately object to
approval of the disclosure statement.

Orix is represented by:

         Russell L. Munsch, Esq.
         Kevin M. Lippman, Esq.
         Jay H. Ong, Esq.
         MUNSCH HARDT KOPF & HARR, P.C.
         401 Congress Avenue, Suite 3050
         Austin, TX 78701
         Tel: (512) 391-6100
         Fax: (512) 391-6149
         E-mail: rmunsch@munsch.com
                 klippman@munsch.com
                 jong@munsch.com

                  About La Villita Motor Inns JV

San Antonio, Texas-based La Villita Motor Inns JV is a joint
venture, formed on or about April 14, 1980, that owns and operates
a hotel located at 100 La Villita in San Antonio, Texas, known as
the Riverwalk Plaza Hotel.  It filed for Chapter 11 bankruptcy
protection (Bankr. Case No. 10-54864) on Dec. 17, 2010.  Debra L.
Innocenti, Esq., at Oppenheimer Blend Harrison & Tate, serves as
the Debtor's bankruptcy counsel.  The Debtor estimated assets at
$10 million to $50 million and debts at $1 million to $10 million.


LBJ LAKEFRONT: Chapter 11 Reorganization Case Dismissed
-------------------------------------------------------
The Hon. Craig A. Gargotta of the U.S. Bankruptcy Court for the
Western District of Texas, in a July 18, 2011 order, dismissed the
Chapter 11 case of LBJ Lakefront, Inc.

The Court also ordered that the Debtor will pay the U.S. Trustee
$578 for amount owed for the second and third quarters of 2011
within 14 days of entry of the order.  The Debtor will receive
credit for any payment made.  The Court will retain jurisdiction
to enforce collection of same.  Quarterly fees will continue to
accrue until the case is closed, dismissed, or converted.

As reported in the Troubled Company Reporter on May 30, Judy A.
Robbins, U.S. Trustee for Region 7, asked that the Court dismiss
the Debtor's case explaining that the Court terminated the
automatic stay with respect to the Debtor's primary assets --
several lots of real property located in Horseshoe Bay, Texas.

The TCR reported on June 24, 2011, that in response to the U.S.
Trustee motion to dismiss case, the Debtor declared that it does
not oppose dismissal of the bankruptcy proceeding.

The TCR also reported on Jun 28, 2010, that secured creditor
American Bank of Texas, N.A., sought for the conversion of the
Debtor's case, citing that:

   -- the plan proposed by the Debtor was filed in bad faith,

   -- neither the Debtor, The Kenneth G. and Karen Jo Martin
      Revocable Living Trust nor Martin have ever sold any real
      property or made any legitimate attempt to sell the property
      for the benefit of creditors in the bankruptcy case; and

   -- the Debtor has no current business operations, no business
      to preserve or reorganize and, thus, no reasonable
      likelihood of rehabilitation.

                    About LBJ Lakefront Inc.

Horseshoe Bay, Texas-based LBJ Lakefront Inc. filed for Chapter 11
bankruptcy protection (Bankr. W.D. Texas Case No. 10-10023) on
Jan. 4, 2010.  Mark Curtis Taylor, Esq., at Hohmann, Taube &
Summers, LLP, assists the Company in its restructuring effort. The
Company disclosed $23,421,603 in assets and $19,470,787 in
liabilities as of the Chapter 11 filing.  No trustee nor
creditors' committee has been appointed in the case.


LEED CORP: Court Approves Nathan M. Olsen as Special Co-Counsel
---------------------------------------------------------------
The Hon. Jim D. Pappas of the U.S. Bankruptcy Court for the
District of Idaho authorized The Leed Corporation to employ Nathan
M. Olsen as co-counsel.

As reported in the Troubled Company Reporter on June 6, 2011,
Nathan M. Olsen, Esq., at Petersen, Moss, Hall & Olsen is serving
as special co-counsel with respect to the Adversary Proceeding
due to the complexity of the facts and issues presented in an
Adversary Complaint.  On Sept. 29, 2010, the Debtor commenced
that certain adversary proceeding, LEED Corporation v. Meyers et
al., Adv. No. 10-08086 JDP.

Mr. Olsen is also assisting the Debtor in responding to the
allegations and misrepresentations contained in the Motion to
Dismiss or Convert filed by Mitchell R. Campbell, to prepare and
file a Motion pursuant to Rule 9011 regarding the same, conduct
Discovery as needed with regards to these contested matters, as
well as to serve as co-counsel in the related adversary
proceeding, Adv. No. 10-08086 JDP.

Mr. Olsen is expected to, among other things:

     a. assist in the prosecution, discovery, trial preparation
        and presentation of the Adversary Proceeding, as
        co-counsel with Robert J. Maynes, Esq.;

     b. assist in the Debtor's response to the allegations and
        misrepresentations contained in the Motion to Dismiss or
        Convert filed by Mr. Campbell;

     c. assist in the preparation and prosecution of a Motion
        pursuant to Rule 9011; and

     d. assist and conduct discovery regarding these matters.

Because of the extensive legal services required, the Debtor will
employ Nathan M. Olsen under a general retainer at the standard
hourly rate of $200 per hour plus costs.  No retainer has been
paid to Nathan M. Olsen.

Mr. Olsen asserted that Petersen, Moss, Hall & Olsen is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

                    About The Leed Corporation

Twin Falls, Idaho-based The Leed Corporation -- dba Green Cut
Sprinklers and Landscaping, Leed Corp., Quality Built Homes, Green
Cut Construction, Shoshone Developers, Desert Green Sprinklers &
Landscaping, Green Cut Lawn Care, and Desert Green -- is a real
estate developer, including new construction and land development,
as well as landscaping and related care and maintenance of
existing real estate in southern Idaho, primarily based out of
Shoshone, Idaho.

The Company filed for Chapter 11 protection (Bankr. D. Idaho Case
No. 10-40743) on April 29, 2010.  Robert J. Maynes, Esq., who
has an office in Idaho Falls, Idaho, assists the Debtor in its
restructuring effort.  The Debtor estimated $10 million to
$50 million in assets and $1 million to $10 million in debts in
its Chapter 11 petition.


LEED CORP: Ch. 11 Plan Confirmation Hearing Set for Sept. 28
------------------------------------------------------------
The Hon. Jim D. Pappas of the U.S. States Bankruptcy Court for the
District Of Idaho will convene a hearing on Sept. 28, 2011, at
1:30 p.m., to consider confirmation of The Leed Corporation's
Second Amended Chapter 11 Plan of Reorganization dated June 23,
2011.  Objections, if any, are due Aug. 26.

Sept. 16 is fixed as the last day for filing written acceptances
or rejections to the proposed Plan.

The Plan consists of four components of the Debtor's operation,
namely (1) the landscaping operations, (2) the rental operations
and real property sales, (3) the winding down of construction
operations, and (4) the pending litigation.

According to the amended Disclosure Statement, the Debtor will
(i) return the Debtor's primary business operations back to its
landscaping business which has proven to be profitable over the
years; (ii) retain those rental properties that determines the
properties would be sold (or refinancing is obtained on more
favorable terms) - with the Net Sale Proceeds being distributed to
the unsecured creditors upon closing of the sale on each property;
(iii) constructions operations will be restricted to the
completion of the Old School Project, which homes can be
completed, in light of the settlement agreements proposed
herein and related financing, and sold for a profit - which Net
Sale Proceeds will be distributed to the unsecured creditors upon
close of the sale of each home; and (iv) the Plan provides that
the Net Litigation Recovery, if any, will be distributed to
unsecured creditors.

The Plan further provides that with respect to all operations,
except the landscaping operations, that the Debtor will continue
to manage its affairs under the Plan subject to the oversight and
input of the Official Committee of Unsecured Creditors for the
duration of the Plan.

A full-text copy of the June 23 Disclosure Statement is available
for free at http://bankrupt.com/misc/LEEDCORP_DS_1stamendment.pdf

                    About The Leed Corporation

Twin Falls, Idaho-based The Leed Corporation -- dba Green Cut
Sprinklers and Landscaping, Leed Corp., Quality Built Homes, Green
Cut Construction, Shoshone Developers, Desert Green Sprinklers &
Landscaping, Green Cut Lawn Care, and Desert Green -- is a real
estate developer, including new construction and land development,
as well as landscaping and related care and maintenance of
existing real estate in southern Idaho, primarily based out of
Shoshone, Idaho.

The Company filed for Chapter 11 protection (Bankr. D. Idaho Case
No. 10-40743) on April 29, 2010.  Robert J. Maynes, Esq., who
has an office in Idaho Falls, Idaho, assists the Debtor in its
restructuring effort.  The Debtor estimated $10 million to
$50 million in assets and $1 million to $10 million in debts in
its Chapter 11 petition.


LEED CORP: Wants DIP Loan OK'd for Old School Project Completion
----------------------------------------------------------------
The Leed Corporation asks the U.S. Bankruptcy Court for the
District of Idaho for authority to enter into a secured
transaction with Equity Trust Company custodian FBO Neal C.
Hocklander IRA, or some other provider.

The Debtor is real estate developer, including construction and
land development, well as landscaping and related care and
maintenance in southern Idaho, primarily based out of Shoshone,
Idaho.

In 2009, the Debtor was unable to complete fifteen residential
properties due to the conduct of CL& M and its related lenders for
which CL&M was the loan servicer.  CL&M was the loan servicer on
the initial loans used to acquire these 15 homes; however, in the
fall of 2009 CL&M failed to fund the required construction loan
draws.

The Debtor is unable to obtain credit for its construction
business operations with regards to the Old School Project lots.

The terms of the loans include:

Amount of Loans:              Loan No. 1: $242,000;
                              Loan No. 2: $100,000, revolving line
                              of credit

Purpose:                      Loan No. 1: To fund the settlement
                              agreements with the New Hampshire
                              chapter 7 Trustee and with David &
                              Jodi Orr with regards to their
                              respective asserted liens in the Old
                              School Project lots;

                              Loan No. 2: To complete
                              construction on partially built new
                              residential housing on a revolving
                              basis;

Interest Rate/Credit Terms:   Loan No. 1: 12% per annum from the
                              date of disbursement, with 10 points
                              being attributable for loan fees;
                              Loan No. 2: Upon the sale and
                              closing of each of the Old School
                              Project lots, the loan draws
                              disbursed under this Note will be
                              paid, without interest, in the
                              amount attributable to the lot then
                              being sold.  The lender will also be
                              33% of the Net Profit (in lieu of
                              other interest or points under this
                              Note) from each of the Old School
                              Project lots at the time of closing.

Date of Repayment:            Loan No.  1: Due and payable upon
                              the sale and closing of each of the
                              15 Old School Project lots, with
                              1/15 be due with respect to each
                              lot, with the unpaid principal and
                              accrued interest being due upon
                              maturity of May 31, 2013;
                              Loan No.  2: On or before the last
                              day of the 24th month following the
                              date of the first disbursement or
                              loan draw, but in no event extending
                              beyond to May 31, 2013;

Collateral:                   The Notes will be secured by a Deed
                              of Trust encumbering certain real
                              property located in Lincoln County,
                              the property consisting of the
                              Debtor's interest in 15 lots,
                              commonly known as the Old School
                              Project.  The Equity credit facility
                              will prime the existing liens and
                              security interests of secured
                              creditors who are not parties to the
                              agreement.

The Debtor proposes to grant to Equity Trust Company custodian FBO
Neal C. Hocklander IRA and some other provider a first lien hold
position, security interest in Debtor's real property improved
with funds from the Equity credit facility, which security
interest will be superior to all other liens and encumbrances.

                    About The Leed Corporation

Twin Falls, Idaho-based The Leed Corporation -- dba Green Cut
Sprinklers and Landscaping, Leed Corp., Quality Built Homes, Green
Cut Construction, Shoshone Developers, Desert Green Sprinklers &
Landscaping, Green Cut Lawn Care, and Desert Green -- is a real
estate developer, including new construction and land development,
as well as landscaping and related care and maintenance of
existing real estate in southern Idaho, primarily based out of
Shoshone, Idaho.

The Company filed for Chapter 11 protection (Bankr. D. Idaho Case
No. 10-40743) on April 29, 2010.  Robert J. Maynes, Esq., who
has an office in Idaho Falls, Idaho, assists the Debtor in its
restructuring effort.  The Debtor estimated $10 million to
$50 million in assets and $1 million to $10 million in debts in
its Chapter 11 petition.


LEED CORP: Court Approves Hartman Appraisal as Expert Appraiser
---------------------------------------------------------------
The Hon. Jim D. Pappas of the U.S. Bankruptcy Court for the
District of Idaho authorized The Leed Corporation to employ Jay R.
Hartman, Hartman Appraisal & Investments, LLC, as expert
appraiser.

Twin Falls, Idaho-based The Leed Corporation -- dba Green Cut
Sprinklers and Landscaping, Leed Corp., Quality Built Homes, Green
Cut Construction, Shoshone Developers, Desert Green Sprinklers &
Landscaping, Green Cut Lawn Care, and Desert Green -- is a real
estate developer, including new construction and land development,
as well as landscaping and related care and maintenance of
existing real estate in southern Idaho, primarily based out of
Shoshone, Idaho.

The Company filed for Chapter 11 protection (Bankr. D. Idaho Case
No. 10-40743) on April 29, 2010.  Robert J. Maynes, Esq., who
has an office in Idaho Falls, Idaho, assists the Debtor in its
restructuring effort.  The Debtor estimated $10 million to
$50 million in assets and $1 million to $10 million in debts in
its Chapter 11 petition.


LEED CORP: Court Approves Paul Landaker as Marketing Expert
-----------------------------------------------------------
The Hon. Jim D. Pappas of the U.S. Bankruptcy Court for the
District of Idaho authorized The Leed Corporation to employ Paul
Landaker of Landaker Marketing Group, LLC, as marketing expert.

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

Twin Falls, Idaho-based The Leed Corporation -- dba Green Cut
Sprinklers and Landscaping, Leed Corp., Quality Built Homes, Green
Cut Construction, Shoshone Developers, Desert Green Sprinklers &
Landscaping, Green Cut Lawn Care, and Desert Green -- is a real
estate developer, including new construction and land development,
as well as landscaping and related care and maintenance of
existing real estate in southern Idaho, primarily based out of
Shoshone, Idaho.

The Company filed for Chapter 11 protection (Bankr. D. Idaho Case
No. 10-40743) on April 29, 2010.  Robert J. Maynes, Esq., who
has an office in Idaho Falls, Idaho, assists the Debtor in its
restructuring effort.  The Debtor estimated $10 million to
$50 million in assets and $1 million to $10 million in debts in
its Chapter 11 petition.


LOGIC DEVICES: Posts $119,800 Net Loss in June 30 Quarter
---------------------------------------------------------
LOGIC Devices Incorporated reported a net loss of $119,800 on
$406,400 of net revenues for the three months ended June 30, 2011,
compared with a net loss of $404,800 on $272,100 of net revenues
for the three months ended June 30, 2010.

Net loss for the nine months ended June 30,2011, was $630,800 on
$1.2 million of net revenues, compared with a net loss of $739,600
on $1.9 million of net revenues for the nine months ended June 30,
2010.

The Company's balance sheet at June 30, 2011, showed $2.7 million
in total assets, $391,500 in total liabilities, and stockholders'
equity of $2.3 million.

As reported in the Troubled Company Reporter on Jan. 3, 2011,
Hein & Associates LLP, in Irvine, Calif., expressed substantial
doubt about LOGIC Devices' ability to continue as a going concern,
following the Company's results for the fiscal year ended
Sept. 30, 2010.  The independent auditors noted that the Company
has suffered recurring losses from operations and requires
additional funds to maintain its operations.

A copy of the Form 10-Q is available at http://is.gd/h2DbHa

                       About LOGIC Devices

Sunnyvale, Calif.-based LOGIC Devices Incorporated (Nasdaq: LOGC)
-- http://www.logicdevices.com/-- develops and markets high-
performance, low power digital integrated circuits and integrated
modules that perform high-density storage and signal/image
processing functions.

The Company's products are used in video broadcasting, medical
imaging, military, industrial, embedded, and telecommunications
markets.


LONGYEAR PROPERTIES: Court Denies Trustee's Case Conversion Plea
----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Massachusetts denied
the motion filed by the trustees for Longyear at Fisher Hill
Condominium Trust to convert the Chapter 11 case of Longyear
Properties, LLC, to one under Chapter 7 of the Bankruptcy Code.

As reported in the Troubled Company Reporter on June 27, 2011, the
Condominium Trust pointed out that in the nine months it has been
in bankruptcy, the Debtor has failed to provide any evidence of a
viable business as its only assets consist of five condominium
units which it has been unable to sell.  The Debtor has also
failed to remain current with any of its postpetition debt
obligations, the Condominium Trust cites.  No equity in the units
exist, and extensive administrative costs from professional fees
are accumulating, the Condominium Trust adds.  "All these factors
establish a substantial and continuing loss to and diminution of
the estates."

The Debtor also failed to file a reorganization plan within the
time allotted by the Bankruptcy Code, the Condominium Trust says.

At a July 12 hearing, the Court stated these conditions:

   1. The Debtor will pay all postpetition arrears on its real
      estate tax obligations to the Town of Brookline within 30
      days of the date of the order and thereafter remain current
      on its real estate tax obligations.

   2. The Debtor will, from and after Aug. 1, 2011, timely pay its
      common area charges to the trust.

   3. The Debtor will fully cure its postpetition arrears to the
      trust as to those common area charges within 90 days of the
      date of the order.

   4. In the event that any of these conditions is not satisfied,
      any party may file an affidavit of noncompliance, which the
      Court will schedule for hearing.

                  About Longyear Properties, LLC

Norwood, Massachusetts-based Longyear Properties, LLC, was formed
in 1996 for the purpose of developing residential property known
as "Longyear at Fisher Hill" located at 120 Seaver Street, in
Brookline, Massachusetts, from a single-family home to a
residential condominium comprising forty three units.  The Company
filed for Chapter 11 bankruptcy protection (Bankr. D. Mass. Case
No. 10-20326) on Sept. 22, 2010.  Stewart F. Grossman, Esq.,
Pamela A. Harbeson, Esq., and Heather Zelevinsky, Esq., at Looney
& Grossman LLP, in Boston, represented the Debtor.  In its
schedules, the Debtor disclosed $14,790,980 in assets and
$13,576,208 in liabilities as of the Petition Date.


LOS ANGELES DODGERS: $150-Mil. Loan From Highbridge Disapproved
---------------------------------------------------------------
The bankruptcy judge refused to approve the lender proposed by the
Los Angeles Dodgers baseball club to make the team a $150 million
secured loan.  Bill Rochelle, the bankruptcy columnist for
Bloomberg News, reports that the bankruptcy judge in Delaware said
the hearing "clearly shows the substantial economic superiority"
of the $150 million unsecured loan offered by the commissioner of
Major League Baseball.

According to the report, U.S. Bankruptcy Judge Kevin Gross
concluded in his 8-page opinion on July 22 that Frank McCourt, the
Dodgers' owner, was "clearly compromised" because he would be
personally liable to pay a $5.25 million breakup fee if final loan
approval were not given to the team's selected lender, Highbridge
Principal Strategies LLC, an affiliate of JPMorgan Chase & Co.

Consequently, Judge Gross, the report relates, said the Dodgers
were not entitled to benefit from the business judgment rule where
loans proposed by bankrupt companies are seldom disapproved.  Mr.
McCourt's conflict being shown, Judge Gross said the Highbridge
loan had to be judged by the "entire fairness standard" under
Delaware law.  The judge said the Highbridge loan failed the test.

Judge Gross, according to the report, said the Dodgers also failed
to prove, as bankruptcy law requires, that an unsecured loan
wasn't available.

Judge Gross's ruling, Mr. Rochelle notes, assumes that the Dodgers
will now negotiate an unsecured loan with the baseball
commissioner.  Counter to what the team argued in court, Judge
Gross found that a loan from Major League Baseball "is not a
vehicle for baseball to control" the Dodgers.  The judge said he
"is confident" the commissioner will offer a loan with "no default
triggers for violations of baseball's rules and regulations."

Judge Gross, Mr. Rochelle also notes, said he would "provide ready
access" in the "unlikely event that baseball strays from its
obligations to act in good faith as the debtor's lender."  The
judge added that a loan from MLB "must be independent of and
uncoupled from Baseball's oversight and governance of the
Dodgers."

The judge's opinion pointed out how the Highbridge loan included
about $10 million in fees not included in the commissioner's offer
of an unsecured loan, also for $150 million.  In addition, the
Highbridge secured loan would have an interest rate 3 percentage
points higher.

                 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.  Thomas Lauria, Esq., at White & Case,
represents MLB.

Attorneys at Morrison & Foerster LLP and Pinckney, Harris &
Weidinger, LLC, serve as counsel to the Official Committee of
Unsecured Creditors.

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


MARTIN CADILLAC: Reorganization Case Converted to Liquidation
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of New Jersey converted
the Chapter 11 case of Martin Cadillac, LLC, to one under Chapter
7 of the Bankruptcy Code.

As reported by the Troubled Company Reporter on Jan. 18, 2011,
Roberta A. DeAngeles, U.S. Trustee for Region 3, asked that the
Court dismiss or convert the Debtor's case due to substantial or
continuing loss to the estate.

Englewood Cliffs, New Jersey-based Martin Cadillac, LLC, filed for
Chapter 11 bankruptcy protection (Bankr. D. N.J. Case No. 10-
29520) on June 25, 2010.  Gregory S. Kinoian, Esq., and Paul S.
Hollander, Esq., at Okin, Hollander & DeLuca, LLP, represented the
Debtor.  Rabinowitz, Lubetkin & Tully, LLC, serves as attorney for
the Chapter 11 Trustee.  The Company estimated assets and debts at
$10 million to $50 million.


MERIDIAN MORTGAGE: Ch. 11 Trustee Gets OK for K&L Gates as Counsel
------------------------------------------------------------------
The Hon. Karen A. Overstreet of the U.S. Bankruptcy Court for the
Western District of Washington authorized, on a final basis, Mark
Calvert, the Chapter 11 Trustee for the estates of Meridian
Mortgage Investors Fund V, LLC, et al., to retain K&L Gates LLP as
his counsel, and Cascade Capital Group LLC as his forensic
accountants.

The trustee asked that the Court confirm the hiring of both firms.
The trustee related that on July 22, 2010, the Court approved the
appointment of K&L Gates as attorneys for the trustee, on an
interim basis, and on Aug. 24, 2010, the Court approved the
appointment of Cascade Capital as forensic accountants for the
trustee on an interim basis.  Both interim orders were without
notice to creditors.

To the best of the trustee's knowledge, K&L Gates and Cascade are
"disinterested persons" as that term is defined in Section 101(14)
of the Bankruptcy Code.

                     About Meridian Mortgage

In November 2010, a federal grand jury in Seattle has indicted
Frederick Darren Berg on 12 counts of wire fraud, money laundering
and bankruptcy fraud in connection with the demise of his Meridian
Group of investment funds.  Prosecutors believe Mr. Berg took in
more than $280 million, with the losses attributed to the ponzi
scheme estimated to be approximately $100 million.  Hundreds of
victims have lost money in the scheme between 2001 and 2010.

Mr. Berg commenced a personal Chapter 11 case (Bankr. W.D. Wash.
Case No. 10-18668) on July 27, 2010, estimating assets of more
than $10 million and liabilities between $1 million and
$10 million.  The filing came after lawyers for one group of
investors, armed with a court order and accompanied by sheriff's
deputies, began seizing personal possessions at Mr. Berg's Mercer
Island home and downtown Seattle condo.

Diana K. Carey, trustee for F. Darren Berg's estate, filed on
Jan. 27, 2011 voluntary Chapter 11 petitions for Mortgage
Investors Fund I LLC (Bankr. W.D. Wash. Case No. 11-10830)
estimating assets of up to $50,000 and debts of up to $50,000,000,
and Meridian Mortgage Investors Fund III LLC (Case No. 11-10833),
estimating up to $50,000 in assets and up to $100,000,000 in
liabilities.  Michael J. Gearin, Esq., at K&L Gates LLP, in
Seattle, serves as counsel to the Debtors.

Creditors filed an involuntary Chapter 11 petition for Meridian
Mortgage Investors Fund II LLC (Bankr. W.D. Wash. Case No. 10-
17976) on July 9, 2010.  The petitioners are represented by Jane
E. Pearson, Esq., at Foster Pepper PLLC, in Seattle.

Creditors filed involuntary Chapter 11 petitions for Meridian
Mortgage Investors Fund VIII, LLC (Bankr. W.D. Was. Case No. 10-
17958) and Meridian Mortgage Investors Fund V, LLC (Bankr. W.D.
Wash. Case No. 10-17952) on July 9, 2010.  The petitioners are
represented by John T. Mellen, Esq., at Keller Rohrback LLP, in
Seattle, and Cynthia A. Kuno, Esq., at Hanson Baker Ludlow
Drumheller PS, in Bellevue, represent the petitioners.


MERIDIAN MORTGAGE: Foster Pepper OK'd as Investors' Panel Counsel
-----------------------------------------------------------------
The Hon. Karen A. Overstreet of the U.S. Bankruptcy Court for the
Western District of Washington authorized, on a final basis, the
Official Consolidated Investors' Committee in the cases of
Meridian Mortgage Investors Fund V, LLC, et al., to retain Foster
Pepper PLLC as its counsel and WTAS LLC as its tax consultant.

The Committee asked that the Court confirm the employments of both
firms.  The Committee related that on Sept. 13, 2010, the Court
approved appointment of Foster Pepper PLLC as counsel for the
Committee on an interim basis, and on Oct. 6, 2010, the Court
approved the employment of WTAS as tax consultant for the
Committee on an interim basis.  Both interim orders were without
notice to creditors.

To the best of the trustee's knowledge, Foster Pepper and WTAS LLC
are "disinterested persons" as that term is defined in Section
101(14) of the Bankruptcy Code.

                     About Meridian Mortgage

In November 2010, a federal grand jury in Seattle has indicted
Frederick Darren Berg on 12 counts of wire fraud, money laundering
and bankruptcy fraud in connection with the demise of his Meridian
Group of investment funds.  Prosecutors believe Mr. Berg took in
more than $280 million, with the losses attributed to the ponzi
scheme estimated to be approximately $100 million.  Hundreds of
victims have lost money in the scheme between 2001 and 2010.

Mr. Berg commenced a personal Chapter 11 case (Bankr. W.D. Wash.
Case No. 10-18668) on July 27, 2010, estimating assets of
more than $10 million and liabilities between $1 million and
$10 million.  The filing came after lawyers for one group of
investors, armed with a court order and accompanied by sheriff's
deputies, began seizing personal possessions at Mr. Berg's Mercer
Island home and downtown Seattle condo.

Diana K. Carey, trustee for F. Darren Berg's estate, filed on
Jan. 27, 2011 voluntary Chapter 11 petitions for Mortgage
Investors Fund I LLC (Bankr. W.D. Wash. Case No. 11-10830)
estimating assets of up to $50,000 and debts of up to $50,000,000,
and Meridian Mortgage Investors Fund III LLC (Case No. 11-10833),
estimating up to $50,000 in assets and up to $100,000,000 in
liabilities.  Michael J. Gearin, Esq., at K&L Gates LLP, in
Seattle, serves as counsel to the Debtors.

Creditors filed an involuntary Chapter 11 petition for Meridian
Mortgage Investors Fund II LLC (Bankr. W.D. Wash. Case No. 10-
17976) on July 9, 2010.  The petitioners are represented by Jane
E. Pearson, Esq., at Foster Pepper PLLC, in Seattle.

Creditors filed involuntary Chapter 11 petitions for Meridian
Mortgage Investors Fund VIII, LLC (Bankr. W.D. Was. Case No. 10-
17958) and Meridian Mortgage Investors Fund V, LLC (Bankr. W.D.
Wash. Case No. 10-17952) on July 9, 2010.  The petitioners are
represented by John T. Mellen, Esq., at Keller Rohrback LLP, in
Seattle, and Cynthia A. Kuno, Esq., at Hanson Baker Ludlow
Drumheller PS, in Bellevue, represent the petitioners.


MERIDIAN MORTGAGE: Plan of Liquidation Gets Court Approval
----------------------------------------------------------
The Hon. Karen A. Overstreet of the U.S. Bankruptcy Court for the
Western District of Washington confirmed the Plan of Liquidation
for Meridian Mortgage Investors Fund V, LLC, et al., as proposed
by Mark Calvert, the Chapter 11 trustee and the Official
Consolidated Investors' Committee.

As reported in the Troubled Company Reporter on June 14, 2011,
according to the Disclosure Statement, the Debtors' estates will
be deemed substantively consolidated, subject to the occurrence of
the effective date of the Plan.  Intercompany claims will be
extinguished and no distributions will be made.  Assets and
liabilities of the estates will be pooled and all claims will be
satisfied from the assets of a single consolidated estate.

The Plan provides that, upon its effective date, all investors
will be deemed to have assigned any asserted liens that
purportedly secure any claim to a liquidating trust created under
the Plan.

Holders of allowed convenience unsecured claims will receive a
distribution of available cash from proceeds of the liquidating
trust assets other than non-estate claims.  The amount is the
lesser of 15% of the allowed claim or $3,000.

Holders of allowed unsecured claims will receive a pro rata share
of the beneficial interests of the liquidating trust, which will
entitle holders to receive a pro rata distribution of available
cash constituting proceeds of the liquidating trust assets other
than non-estate claims.

                     About Meridian Mortgage

In November 2010, a federal grand jury in Seattle has indicted
Frederick Darren Berg on 12 counts of wire fraud, money laundering
and bankruptcy fraud in connection with the demise of his Meridian
Group of investment funds.  Prosecutors believe Mr. Berg took in
more than $280 million, with the losses attributed to the ponzi
scheme estimated to be approximately $100 million.  Hundreds of
victims have lost money in the scheme between 2001 and 2010.

Mr. Berg commenced a personal Chapter 11 case (Bankr. W.D. Wash.
Case No. 10-18668) on July 27, 2010, estimating assets of
more than $10 million and liabilities between $1 million and
$10 million.  The filing came after lawyers for one group of
investors, armed with a court order and accompanied by sheriff's
deputies, began seizing personal possessions at Mr. Berg's Mercer
Island home and downtown Seattle condo.

Diana K. Carey, trustee for F. Darren Berg's estate, filed on
Jan. 27, 2011 voluntary Chapter 11 petitions for Mortgage
Investors Fund I LLC (Bankr. W.D. Wash. Case No. 11-10830)
estimating assets of up to $50,000 and debts of up to $50,000,000,
and Meridian Mortgage Investors Fund III LLC (Case No. 11-10833),
estimating up to $50,000 in assets and up to $100,000,000 in
liabilities.  Michael J. Gearin, Esq., at K&L Gates LLP, in
Seattle, serves as counsel to the Debtors.

Creditors filed an involuntary Chapter 11 petition for Meridian
Mortgage Investors Fund II LLC (Bankr. W.D. Wash. Case No. 10-
17976) on July 9, 2010.  The petitioners are represented by Jane
E. Pearson, Esq., at Foster Pepper PLLC, in Seattle.

Creditors filed involuntary Chapter 11 petitions for Meridian
Mortgage Investors Fund VIII, LLC (Bankr. W.D. Was. Case No. 10-
17958) and Meridian Mortgage Investors Fund V, LLC (Bankr. W.D.
Wash. Case No. 10-17952) on July 9, 2010.  The petitioners are
represented by John T. Mellen, Esq., at Keller Rohrback LLP, in
Seattle, and Cynthia A. Kuno, Esq., at Hanson Baker Ludlow
Drumheller PS, in Bellevue, represent the petitioners.


MERUELO MADDUX: Charlestown Proposed Plan Takes Effect
------------------------------------------------------
Meruelo Maddux Properties, Inc. disclosed that the Charlestown
Capital Advisors, LLC's and Hartland Asset Management
Corporation's plan of reorganization for MMPI and its
subsidiaries, which was previously confirmed by the United States
Bankruptcy Court for the Central District of California, became
effective.

Under the terms of the Plan, MMPI Acquisition, LLC has acquired
55% of the outstanding shares of common stock of MMPI, and the
non-insider shareholders of MMPI are receiving $0.35 per share in
exchange for approximately 52.838% of their shares (except for
those shareholders who previously elected to sell all of their
shares).  Subsequent to this transfer of shares, under the terms
of the Plan, the shares of MMPI common stock will undergo a 5-to-1
reverse stock split in which any fractional shares that result
will be cancelled and receive $0.35 per pre-reverse stock split
share.

The company also announced that Marty Caverly has been appointed
as Chief Executive Officer, effective immediately. Caverly is a
seasoned real estate professional with more than 20 years of
experience.  Most recently, he ran the acquisitions department at
Hackman Capital and he also is founder of 2120 Partners, a real
estate consulting, advisory and principal investing firm.  Prior
experience includes serving as Principal at real estate private
equity firm O'Connor Capital Partners, and head of European
acquisitions for both core and opportunistic funds for Tishman
Speyer.  Caverly began his career at Citigroup Real Estate in New
York.  He is a graduate of Harvard College and Northwestern
University's Kellogg Graduate School of Management.

Mr. Caverly stated: "I am pleased to take the reins at this
pivotal time. I want to thank our employees and our many partners
who supported the Company throughout this process.  We look
forward to moving ahead under the plan of reorganization."

Mr. Caverly noted that the Company will likely be renamed in the
near future.

                       About Meruelo Maddux

Meruelo Maddux and its affiliates filed for Chapter 11 protection
(Bankr. C.D. Calif. Lead Case No. 09-13356) on March 26, 2009.
John N. Tedford, IV, Esq., and Enid M. Colson, Esq., at Danning
Gill, Diamond & Kollitz, LLP, in Los Angeles, represent the
Debtors in their restructuring effort.  The Debtors' financial
condition as of Dec. 31, 2008, showed $681,769,000 in assets and
$342,022,000 of debts.

FTI Consulting, Inc., serves as the Debtors' financial advisors,
Ernst & Young as independent auditors and tax advisors, DLA Piper
LLP (US) as special securities and litigation counsel, and Waldron
& Associates, Inc. as real estate appraiser.

The U.S. Trustee has appointed an official committee of unsecured
creditors and a separate official shareholders' committee in the
case.  SulmeyerKupetz, APC, serves as the Creditors Committee's
counsel and Kibel Green, Inc., as its financial advisor.  The
equity committee has sought to retain Ron Orr & Professionals,
Inc., Rodiger Law Office, and Jenner & Block as counsel, and Kibel
Green, Inc. as its financial advisor.

The Debtors; Legendary Investors Group No. 1, LLC, and East West
Bank; and Charlestown Capital Advisors, LLC and Hartland Asset
Management Corporation have proposed rival reorganization plans in
the case.  In mid-January 2011, the Debtors struck a deal with the
Legendary Group to drop the group's competing plan.

The Debtors have hired Kurtzman Carson Consultants as solicitation
and balloting agent.

Legendary Investors Group No. 1, LLC, is represented in the case
by Jeremy V. Richards, Esq., and Jeffrey W. Dulberg, Esq., at
Pachulski Stang Ziehl & Jones LLP; and Surjit P. Soni, Esq., at
The Soni Law Firm.  East West Bank is represented by Curtis C.
Jung, Esq., and Monica H. Lin, Esq., at Jung & Yuen, LLP, and
Elmer Dean Martin III, Esq.

Charlestown Capital Advisors, LLC and Hartland Asset Management
Corporation are represented in the case by Christopher E. Prince,
Esq., Matthew A. Lesnick, Esq., and Andrew R. Cahill, Esq., at
Lesnick Prince LLP.


MIN SHOPPING: Case Summary & 2 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: MIN Shopping Center LLC
        41 Fairway Lane
        Manhasset, NY 11030

Bankruptcy Case No.: 11-75247

Chapter 11 Petition Date: July 22, 2011

Court: United States Bankruptcy Court
       Eastern District of New York (Central Islip)

Judge: Robert E. Grossman

Debtor's Counsel: Roy J. Lester, Esq.
                  LESTER & ASSOCIATES
                  600 Old Country Road, Suite 229
                  Garden City, NY 11530
                  Tel: (516) 357-9191
                  Fax: (516) 357-9281
                  E-mail: rlester@rlesterlaw.com

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

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

A list of the Company's two largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/nyeb11-75247.pdf

The petition was signed by Meral Naman, managing member.


MSI INVENTORY: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: MSI Inventory Service Corporation
        c/o Mr. James McClain
        962 County Lilne Road
        Mendenhall, MS 39114

Bankruptcy Case No.: 11-02552

Chapter 11 Petition Date: July 21, 2011

Court: United States Bankruptcy Court
       Southern District of Mississippi
       (Jackson Divisional Office)

Judge: Edward Ellington

Debtor's Counsel: Craig M. Geno, Esq.
                  HARRIS JERNIGAN & GENO, PLLC
                  587 Highland Colony Pkwy.
                  P.O. Box 3380
                  Ridgeland, MS 39157
                  Tel: (601) 427-0048
                  Fax: (601) 427-0050
                  E-mail: cmgeno@hjglawfirm.com

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

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

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

The petition was signed by James O. McClain, president.


MSR RESORT: Committee Taps Jefferies & Co. as Financial Advisor
---------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
cases of MSR Resort Golf Course LLC, et al., asks the U.S.
Bankruptcy Court Southern District of New York for permission to
retain Jefferies & Company, Inc., as financial advisor.

Jefferies will, among other things:

   -- advise the Committee on the current state of the
   restructuring market;

   -- assist and advise the Committee on tactics and strategies
   for negotiating with other stakeholders; and

   -- assist and advise the Committee in evaluating potential
   financing transactions by the Debtors.

Jefferies' compensation will include:

   -- a $125,000 monthly fee;

   -- a transaction fee equal to $1,150,000, which will be earned
   in full upon the effective date of a Chapter 11 Plan of
   Reorganization (including a plan of liquidation) in the
   Chapter 11 cases that is supported by the Committee; and

   -- reimbursement of out-of-pocket expenses.

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

                          About MSR Resort

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

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

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

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

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

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


MT. ZION: Can Use Cash Collateral to Pay Administrative Claims
--------------------------------------------------------------
The Hon. Pamela S. Hollis of the U.S. Bankruptcy Court for the
Northern District of New York authorized Mt. Zion Limited
Partnership to access the cash collateral to pay allowed
administrative claims of David K. Welch and the law firm of Crane,
Heyman, Simon, Welch & Clar, the Debtor's counsel and William Huml
and william E. Huml & Co., Ltds., and the Debtor's accountants.

Lake Forest, Illinois-based Mt. Zion Limited Partnership, dba
Woodspring Apartments, owns and operates a residential apartment
project located in Florence, Kentucky, known as Woodspring
Apartments.  The Company filed for Chapter 11 protection (Bankr.
N.D. Ill. Case No. 10-18075) on April 23, 2010.  David K Welch,
Esq., at Crane Heyman Simon Welch & Clar, assists the Debtor in
its restructuring effort.  The Company estimated its assets and
debts at $10 million to $50 million as of the Petition Date.


NAPA HOME & GARDEN: Teters-Led Auction for Assets on July 28
-------------------------------------------------------------
Casual Living reports that a bankruptcy judge early this month
approved a bidding process for the assets of Napa Home & Garden.

Under the court-approved rules, interested parties must submit
bids by no later than 4 p.m. on July 27, 2011.

According to the report, qualified bidders may participate in an
auction of the assets to be held at 10 a.m. on July 28, 2011.  The
Bankruptcy Court has scheduled a hearing to rule upon the Debtor's
request to sell the assets to the successful bidder at 10 a.m. on
Friday, July 29, 2011.

Interested parties wishing to obtain information were required to
contact Leon S. Jones at Jones & Walden LLC, 21 Eighth Street NE,
Atlanta, Georgia 30309, 404-564-9300.

Napa entered into an Asset Purchase Agreement to sell its core
home and garden business to Teters Floral Products, Inc.
Inventory and assets related to Napa Home & Garden's FireLite and
NAPAFire gel fuel product lines are excluded from the sale.
Teters has agreed to pay a purchase price of $1,100,000 for Napa's
inventory -- excluding the FireLite and NAPAFire gel fuel
inventory -- accounts receivable, equipment, intellectual
property, goodwill and related assets and to assume certain of
Napa's obligations to make additional purchases of the acquired
inventory during the course of the chapter 11 bankruptcy case.

The Purchase Price will be adjusted based upon Napa's inventory
level at Closing of the purchase under the Asset Purchase
Agreement.  The $1.1 million Purchase Price is based upon Napa's
estimated inventory at Closing of $1 million at Napa's cost.
Except for the Assumed Obligations, Teters is requesting to
purchase the Acquired Assets free and clear of any liens or other
debts and obligations.

Napa Home & Garden, Inc., filed a Chapter 11 petition (Bankr. N.D.
Ga. Case No. 11-69828) on July 5, 2011.  The Debtor estimated
assets and debts of $1 million to $10 million.  Leslie Pineyro,
Esq., at Jones & Walden, LLC, in Atlanta -- ljones@joneswalden.com
-- serves as counsel to the Debtor.  A copy of the petition is at
http://bankrupt.com/misc/ganb11-69828.pdf


NEBRASKA BOOK: Has Final Approval of $200 Million Loan
------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Nebraska Book Co. was given final approval July 21
for $200 million in secured financing, including a $75 million
revolving credit.  Previously, $125 million was approved as an
interim loan.  Financing is from a group of banks led by JPMorgan
Chase Bank N.A.

According to the report, unsecured creditors have until Sept. 26
to challenge the validity of secured claims.  Before the
bankruptcy filing, the company worked out an agreement to swap
some of the existing debt for new debt, cash and the new stock,
after first-lien and second-lien debt is paid in full.

The report relates that the stock will be divided between
subordinated noteholders of the operating company and holders of
notes issued by the holding company.  The plan was designed to
remove $150 million of debt from the balance sheet.

                  First Amendment to DIP Loans

In a regulatory Form 8-K filing Thursday, NBC Acquisition Corp.
discloses that the Company, its wholly-owned subsidiary Nebraska
Book Company, Inc., and NBC Acquisition's parent company NBC
Holdings Corp., entered into a First Amendment to their Secured
Superpriority Debtor-In-Possession Credit Agreement, dated as of
June 30, 2011, with the lenders party from time to time thereto
and JPMorgan Chase Bank, N.A., as administrative agent and
collateral agent.  The First Amendment, among other things, (i)
changes the applicable margin with respect to term loans to 5.00%
per annum in the case of base rate loans and to 6.00% per annum in
the case of Eurodollar Loans, (ii) adds Ally Commercial Finance
LLC and The CIT Group/Business Credit, Inc., as documentation
agents, and (iii) amends certain definitions under the DIP Credit
Agreement.

A full text of the First Amendment, dated a of July 20, 2011, is
available at http://is.gd/pEeaKs

NBC Acquisition also furnished copies of their Joint Plan of
Reorganization and proposed Disclosure Statement as filed with the
U.S. Bankruptcy Court for the District of Delaware on July 17,
2011.

As reported in the TCR on July 21, 2011, 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.

A full text of the Joint Plan of Reorganization is available for
free at http://is.gd/7TuLkj

A full text of the Disclosure Statement is available at:

                       http://is.gd/2JnhBp

As reported in the TCR on July 25, 2011, Nebraska Book Company won
clearance Thursday to borrow $200 million, with JPMorgan Chase
Bank NA acting as loan agent, in order to continue business
operations ahead of the late-summer book-buying season.

Delaware Bankruptcy Judge Peter J. Walsh approved the debtor-in-
possession financing, in the form of a $125 million in term loans
and a $75 million revolving credit facility, on the same day the
debtor won clearance to pay vendors, employees and others continue
to operate.

                   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 U.S. Trustee appointed in the case of the Debtor an official
creditors' committee composed of two indenture trustees and three
trade suppliers.  Lowenstein Sandler LLP represents the Committee,
and Mesirow Financial Inc., serves as financial advisers.


NEW BERN RIVERFRONT: Alderman Approves Amended Reorganization Plan
------------------------------------------------------------------
Eddie Fitzgerald at the Sun Journal reports that New Bern
Riverfront Development LLC entered a resolution approving an
amended plan of reorganization in the New Bern Riverfront
Development bankruptcy.

According to the report, the development company previously filed
a proposed plan of reorganization Dec. 30, 2010.  The new amended
plan of reorganization filed June 30 amends certain provisions of
the previous plan.

The Sun Journal reports that board of aldermen held a meeting to
consider the resolution to approve an amended plan.

Scott Davis, city attorney, said New Bern was looking at four
areas in the settlement: the 2009 property taxes; and three
unsecured claims, including sidewalks, lights and tap fees,
according to the report.

Wells Fargo Bank is a Class 1, secured creditor, listed in order
of repayment only behind administrative claims from attorneys
involved in the proceedings, and claims for unpaid New Bern and
Craven County property taxes.

Wells Fargo Bank is being charged as the administrator of the
claims.  New Bern Riverfront secured claim creditors are seeking
claims of $21 million.  New Bern is seeking $368,042.

Plans to repay creditors include selling open condo units, and
recovering funds through an ongoing lawsuit with the general
contractor that oversaw the downtown waterfront condos'
construction.

The report says New Bern Riverfront secured claim creditors are
seeking claims of; $21 million, Wells Fargo Bank; $2.4 million,
Weaver Cooke Construction of Raleigh; Craven County New Bern and
people who signed contracts for condos or slips or have filed
unsecured claims.  New Bern is seeking $368,042.

                     About New Bern Riverfront

Cary, North Carolina-based New Bern Riverfront Development, LLC,
is the developer of SkySail Condominium, consisting of 121
residential condominiums (plus 1 commercial/non-residential unit)
located on Middle Street on the waterfront in historic downtown
New Bern, North Carolina, and sells the SkySail Condominiums in
the ordinary course of business.  The Debtor filed for Chapter 11
bankruptcy protection (Bankr. E.D.N.C. Case No. 09-10340) on Nov.
30, 2009.  John A. Northen, Esq., at Northen Blue, LLP, represents
the Debtor.  The Company disclosed $31,515,040 in assets and
$25,676,781 in liabilities as of the Chapter 11 filing.


NEW JERSEY MOTORSPORTS: Court Approves Reorganization Plan
----------------------------------------------------------
Joseph P. Smith at The Daily Journal reports that U.S. Bankruptcy
Court Judge Judith Wizmur cleared New Jersey Motorsports Park to
resume normal operations.  Judge Smith approved the Millville
facility's Chapter 11 reorganization plan.

"There are some additional documents we need to complete to
officially exit, but they'll be complete in a week to a few
weeks," the report quotes park General Manager Brad Scott as
saying.

The park's ownership, NEI Motorsports LLC, had predicted the
favorable decision.

According to the report, at a July 6 auction, NEI Motorsports LLC
submitted the only bid to buy the facility.  The ownership group,
which bid $22.5 million, needed the court to officially accept the
result.  However, the bankruptcy procedure also requires that the
park's creditors approve the reorganization plans.  The deadline
for that vote was last Thursday.

Thomas Barlas at pressofAtlanticCity reports that the plan calls
for Merrill Lynch to cut $10 million from its $30 million loan to
the park.  NEI Motorsports, an investor group that includes some
of the park's owners, also will pay out $2 million to help the
raceway meet outstanding financial obligations.  The final actions
makes NEI the motorsports park's majority owner.  Merrill Lynch
will hold a minority interest in the operations.

                      Suit Over Noise Levels

Joseph P. Smith at the Daily Journal reports that a lawsuit that
area homeowners filed over noise levels at New Jersey Motorsports
Park should be resolved in U.S. Bankruptcy Court in Camden.

In its suit, the homeowners demand limits on "noise pollution" and
"stringent noise pollution guidelines" on any new construction at
the park.  The suit also seeks damages for alleged losses in
property values and it asks for attorney fees and costs.  The
lawsuit names as plaintiffs David Carrow, Elizabeth Milne and
Byron Robbins.

According to the report, representatives of the Motorsports
Park and plaintiff TrackRacket, a group of four city residents,
confirmed there is a proposed settlement submitted for court
review.  That deal needs court approval because the park is
operating under Chapter 11 bankruptcy rules.

                   About New Jersey Motorsports

Millville, New Jersey-based New Jersey Motorsports Park, LLC,
filed for Chapter 11 bankruptcy protection (Bankr. D. N.J. Case
No. 11-16752) on March 7, 2011.  Nella M. Bloom, Esq., at Cohen
Seglias Pallas Greenhall & Furman, PC, serves as the Debtor's
bankruptcy counsel.  The Debtor estimated its assets at $100,001
to $500,000 and debts at $10 million to $50 million.

Affiliates New Jersey Motorsports Park Operating Company, LLC
(Bankr. D. N.J. Case No. 11-16772), New Jersey Motorsports Park
Development Association (Bankr. D. N.J. Case No. 11-16776), and
New Jersey Motorsports Park Urban Renewal, LLC (Bankr. D. N.J.
Case No. 11-16778) filed separate Chapter 11 petitions on
March 7, 2011.


NORTHWESTERN STONE: To Decide on USCOC Lease Later
--------------------------------------------------
Hon. Robert D. Martin of the U.S. Bankruptcy Court for the Western
District of Wisconsin approved a stipulation extending
Northwestern Stone, LLC's time to assume or reject its unexpired
nonresidential lease with United States Cellular Operating
Company, LLC, is extended until the confirmation of its proposed
Chapter 11 Plan.  The stipulation between the Debtor and United
States Cellular was entered on July 12.

                     About Northwestern Stone

Middleton, Wisconsin-based Northwestern Stone, LLC, operates a
gravel quarry business at four separate locations: one in
Sauk County (Swiss Valley Road, Prairie de Sac), and three in Dane
County (4373 Pleasant View Road, Middleton, 6166 Ramford Court,
Springfield, and 3060 Getz Road, Springdale).   It filed for
Chapter 11 bankruptcy protection (Bankr. W.D. Wis. Case No. 10-
19137) on Dec. 16, 2010.  The Debtor disclosed $25,238,172 in
assets and $12,080,628 in liabilities as of the Chapter 11 filing.
Timothy J. Peyton, Esq., who has an office in Madison, Wisconsin,
serves as the Debtor's bankruptcy counsel.  Grobe & Associates,
LLP, serves as the Debtor's accountants.

On Jan. 26, 2011, the U.S. Trustee appointed the Official
Committee of Unsecured Creditors.  Claire Ann Resop of von Briesen
& Roper, S.C., represents the Committee as legal counsel.


NURSERYMEN'S EXCHANGE: Proposes to Sell Assets for $4 Million
-------------------------------------------------------------
Mark Noack at Half Moon Bay Review reports that Nurserymen's
Exchange has put forward a proposal to sell most of its assets to
a larger Salinas flower wholesaler for $4 million as a possible
way to pay off its creditors and resolve its bankruptcy.

According to the report, attorneys for the Company announced the
proposal but disclosed few specifics at a hearing of the U.S.
Bankruptcy Court of the Northern District of California.

The report says the proposed buyer, Monterey Peninsula
Horticulture, provided the only bid in an auction scheduled last
week for the assets of Nurserymen's Exchange, including its
inventory of flowers, and unspecified property, equipment,
business contracts and patents.

Under the deal the Monterey company has agreed it would offer
employment to at least 135 Nurserymen's employees at comparable
pay and benefits.

In court filings, Finestone urged the court to approve the sale to
Monterey Peninsula Horticulture quickly, notes Mr. Noack.

                    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.


OMEGA NAVIGATION: Gets Interim Approval of First Day Motions
------------------------------------------------------------
Omega Navigation Enterprises Inc. said that, in connection with
its Chapter 11 proceedings in Houston, Texas, the Court has
granted all of the interim relief that the company requested.

The company's requests included the right to continue to operate
and pay all operating expenses in the ordinary course, the right
to continue to pay employees and crew in the ordinary course, the
right to continue all cash management procedures in the ordinary
course and the right to continue to maintain all insurance in the
ordinary course.

The company said its management team continues to operate the
business in the ordinary course.  Omega will continue to honor all
of its charter obligations during the pendency of the court
protection.

Omega believes the Chapter 11 bankruptcy process will help it
facilitate a restructuring of its balance sheet and is working
towards exiting Chapter 11 as a financially stronger entity that
will be positioned to enjoy future growth based on the strength of
its existing modern fleet of product tanker vessels.

                    About Omega Navigation

Athens, Greece-based Omega Navigation Enterprises Inc. and
affiliates, owner and operator of tankers carrying refined
petroleum products, filed for Chapter 11 protection (Bankr. S.D.
Tex. Lead Case No. 11-35926) on July 8, 2011, in Houston.

Omega is an international provider of marine transportation
services focusing on seaborne transportation of refined petroleum
products.  The Debtors disclosed assets of US$527.6 million and
debt totaling US$359.5 million.  Together, the Debtors wholly own
a fleet of eight high-specification product tankers, with each
vessel owned by a separate debtor entity.

Bracewell & Giuliani LLP serves as counsel to the Debtors.
Jefferies & Company, Inc., is the financial advisor.


OPTI CANADA: Releases Second Quarter Operational Update
-------------------------------------------------------
OPTI Canada Inc. disclosed an update on its joint venture
operations over the second quarter of 2011.

Operational Update

Long Lake bitumen production for the second quarter of 2011
averaged approximately 27,900 barrels per day (bbl/d) (9,800 bbl/d
net to OPTI), an increase over the first quarter average of
approximately 25,500 bbl/d (8,900 bbl/d net to OPTI).  Steam
injection also increased to average approximately 152,000 bbl/d
following the scheduled hot lime softener maintenance in April,
compared to 146,000 bbl/d in the previous quarter.  Production
improvements are a result of higher steam injection, continued
well optimizations and ramp up of new wells at Pad 11.  Production
at the end of June was approximately 30,000 bbl/d (10,500 bbl/d
net to OPTI).

Operating costs for the first two quarters of 2011 increased due
to planned and unplanned maintenance, and initiatives to increase
plant reliability and improve well performance.  The second
quarter included planned maintenance on the second hot lime
softener and a Cogeneration unit, as well as unplanned maintenance
on gasifiers and steam generators.  The third hot lime softening
unit and remaining Cogeneration unit are scheduled for similar
maintenance in August.  Despite increased operating costs, OPTI
achieved its first quarterly positive net field operating margin
in the amount of $2 million during the second quarter.

The company currently has 86 well pairs capable of production and
2 in circulation mode.  The company has implemented modifications
to increase the capacity of its water disposal and plan to add
further capacity later this year.

Including steam to wells currently in circulation mode or early in
the ramp-up cycle, its recent all-in steam-to-oil ratio ("SOR")
average is approximately 5.4.  The company expects that its long-
term SOR will range between 3.0 and 4.0.  The company does not
expect to reach this long-term SOR range until 2012 or later.  The
SOR for its original 90 well pairs is expected to be in the high
end of this range.

Upgrader units performed consistently during the quarter,
processing the majority of its produced bitumen as well as
approximately 9,200 bbl/d (3,200 bbl/d) net to OPTI) of
externally-sourced bitumen.  The company Upgrader on-stream time
averaged 98 percent for the second quarter, up from 93 percent in
the previous quarter.  Premium Sweet Crude ("PSC(TM)") yields
averaged 70 percent over the quarter, down slightly from the
previous quarter average of 74 percent.  The decrease was
primarily due to the planned maintenance in April and yields have
returned to previous levels.  The company continues to expect
yields to increase to the design rate of 80 percent as operations
are optimized.  For the remainder of 2011 it expects to purchase
externally-sourced bitumen when economically beneficial.

In November 2010, the company announced that it expected Long Lake
bitumen production volumes to average between 38,000 and 45,000
bbl/d (between approximately 13,000 and 16,000 bbl/d net to OPTI)
for 2011.  Based on lower than expected production since making
this forecast, it do not expect to achieve this range.

Through operational experience gained over time, it have improved
our understanding of the Long Lake reservoir.  With this
experience, it recognize that a portion of our initial 90 well
pairs will not meet production expectations.  The company are
addressing this primarily by the accelerated development of well
pads.  While many of our wells will perform according to
expectations, it do not expect to reach gross production rates
over 50,000 bbl/d until Pads 12 and 13 are on-stream for a period
of time. Pads 12 and 13 are scheduled to come on-stream in 2012
and will begin to ramp up shortly thereafter.  Multiple
initiatives are underway to support the production increases and
operational performance improvements at the Long Lake Project (the
"Project"):

        --  Bitumen production is expected to ramp up as the
            Project maintains reliable surface operations with
            steam chambers developing and as it
            continue working through high water saturation zones;

        --  It expect increasing production from Pad 11, where
             most of the pairs have turned to production mode;

         --  A supply line to increase the Project's natural gas
             inlet capacity complete and expected to be online
             early next quarter.  Increasing this capacity is
             expected to enable greater independence between SAGD
             operations and the Upgrader by allowing us to
             maintain full steam production rates during periods
             of Upgrader downtime;

        --  It have begun the drilling of 18 well pairs in a high-
            quality area of its reservoir at Pads 12 and 13;

        --  It are evaluating the accelerated development of Pads
            14 and 15 also to be located in what it expect to be a
            high-quality area of the reservoir.  These wells could
            be available for production by 2014;

        --  As a greater number of wells from future pads become
            available for production, it expect to direct steam
            toward the better parts of the resource; and

        --  It are evaluating the addition of a diluent recovery
            unit ("DRU") that is expected to improve operating
            flexibility (further capital spending to develop this
            potential project requires approval by OPTI's board of
            directors and may be considered later this year).

In addition to these initiatives, and aligned with the objective
to expand production from our resource areas, it are evaluating
where it is most efficient to add steam capacity and strategically
place wells.  These preliminary optimization plans consider adding
once-through steam generation capacity as well as advancing
bitumen production from Kinosis which could be tied-in to the Long
Lake Upgrader.

Concurrently, OPTI and Nexen Inc. continue to evaluate developing
SAGD projects in 10,000 to 40,000 bbl/d bitumen stages at Kinosis.
Sanctioning the first stage of Kinosis is planned for 2012 subject
to a number of factors including: improvement in our financial
position; performance at Long Lake; the cost estimate to develop
Kinosis; the commodity price environment; and stability in the
financial markets.

Effective April 1, 2011 OPTI exercised a deferred payment funding
option to continue advancing engineering and execution plans for
Kinosis to the end of May 2011.  During the second quarter of
2011, OPTI further elected to extend this option to the end of
September 2011.  It retain all of our other rights under the joint
venture agreement and it have the discretion to resume funding of
our proportionate share of Kinosis costs.  OPTI's proportionate
share of deferred costs (plus applicable interest) to June 30,
2011 is approximately $10 million.

The performance of SAGD operations and the Upgrader may differ
from our expectations.  There are a number of factors related to
the characteristics of the reservoir and operating facilities that
could cause bitumen and PSC(TM) production to be lower than
anticipated.  See "Risk Factors - Operating Risks" in the
company's management's discussion and analysis for the year ended
December 31, 2010.

Liquidity

At June 30, 2011, OPTI had approximately $189 million in cash and
cash equivalents.  In addition, it holds restricted cash of US$73
million in an interest reserve account associated with our US$300
million First Lien Notes.

OPTI achieved a positive net field operating margin of $2 million
for the second quarter of 2011, an improvement from a loss of $8
million in the first quarter.  The positive net field operating
margin was primarily the result of higher bitumen production and
improved West Texas Intermediate prices.  It define our net field
operating margin or loss as sales related to petroleum products
net of royalties and power sales minus operating expenses, diluent
and feedstock purchases, and transportation costs.


                             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.


ORRIN THIESSEN: Files for Chapter 11 Bankruptcy Protection
----------------------------------------------------------
Orrin Thiessen, along with his wife, Terri, has declared
bankruptcy, disclosing $11.8 million in assets, and $21.7 million
in liabilities in the Chapter 11 filing.

John Burgess at the Press Democrat reports that Mr. Thiessen fell
behind in mortgage payments on office and condominium projects.

According to the report, Mr. Theissen's assets listed in the
bankruptcy filing include more than 30 properties that he owns,
most of which are in default, and in some cases listed for
auction.  Mr. Thiessen owes $4.7 million from Wells Fargo, and
$2.2 million from West America Bank.

In June, nine of Mr. Thiessen's properties around Town Green
Village were listed as subject of a trustee's sale and auction,
according to Sonoma County property records, says Mr. Burgess.

Mr. Thiessen is the developer who transformed a blighted section
of Windsor into a new Town Green Village.

The Press Democrat reports that the downturn in the nation's
housing and real estate markets has battered some of Sonoma
County's biggest developers and real estate investors.  Prominent
landowner Clem Carinalli and developers Wendell "Del" Nordby and
Richard Dowd each have sought bankruptcy protection.

Orrin Thiessen filed a Chapter 11 petition (Bankr. N.D. Calif.
Case No. 11-12682) on July 15, 2011.


OROTEK, L.P.: Case Summary & 2 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Orotek, L.P.
        1801 E. 41St. Place
        Los Angeles, CA 90058

Bankruptcy Case No.: 11-40924

Chapter 11 Petition Date: July 20, 2011

Court: U.S. Bankruptcy Court
       Central District of California (Los Angeles)

Judge: Sandra R. Klein

Debtor's Counsel: Ovsanna Takvoryan, Esq.
                  TAKVORYAN LAW GROUP, A PROFESSIONAL CORP
                  450 N. Brand Boulevard, Suite 600
                  Glendale, CA 91203
                  Tel: (818) 291-6272
                  Fax: (818) 484-2126
                  E-mail: ovsanna@takvoryanlawgroup.com

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

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

A list of the Company's two largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/cacb11-40924.pdf

The petition was signed by Mansoor Malekan, limited partner.

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Michael M. Noghreyan                  11-18677            07/20/11


OUTSOURCE HOLDINGS: Has Until Aug. 31 to Propose Chapter 11 Plan
----------------------------------------------------------------
The Hon. D. Michael Lynn of the U.S. Bankruptcy Court for the
Northern District of Texas extended Outsource Holdings, Inc.'s
exclusive periods to file and solicit acceptances for the proposed
plan of reorganization until Aug. 31, 2011, and Oct. 31,
respectively.

The Debtor needed more time to file the plan because its efforts
has been focused on gaining approval of the sale motion.  Now that
the sale order has been entered and the sale motion has been
approved, the Debtor is in the position to concentrate its efforts
on formulating its Chapter 11 Plan.

Lubbock, Texas-based Outsource Holdings, Inc.'s only significant
asset is its ownership of all of the outstanding capital stock of
Jefferson Bank, which is a state bank with five branch locations
in the Dallas/Fort Worth metroplex.

Outsource Holdings believes that a sale/merger of its interests in
Jefferson Bank before August 2011 offers the best opportunity for
maximizing the value of this asset for this bankruptcy estate and
its creditors.  The Debtor has been unable to obtain consent from
its creditors to conduct a sale or merger outside of bankruptcy.

Since Outsource Holdings believes that a sale before August 2011
is necessary to avoid significant and sudden further declines in
the value of its interests in Jefferson Bank, Outsource Holdings
believes its fiduciary duties to its creditor body as a whole
required the initiation of the bankruptcy case.

Outsource Holdings filed for Chapter 11 bankruptcy protection on
April 3, 2011 (Bankr. N.D. Tex. Case No. 11-41938).  Jeff P.
Prostok, Esq., at Forshey & Prostok, LLP, serves as Outsource
Holdings' bankruptcy counsel.  The Debtor also tapped Commerce
Street Capital, LLP, as investment banker and financial advisor,
Fenimore, Kay, Harrison & Ford, LLP as special transaction and
regulatory counsel.  The Debtor disclosed $10,571,121 in assets
and $13,887,431 in liabilities as of the Chapter 11 filing.

Anthony J. Pacchia was appointed as Chapter 11 examiner in the
Debtor's case.  The examiner tapped Cole, Schotz, Meisel, Forman &
Leonard, P.A., as counsel and Traxi, LLC, as financial advisors.

No creditors' committee has been appointed in the case.


PACESETTER FABRICS: Taps Rutter Hobbs as Gen. Bankruptcy Counsel
----------------------------------------------------------------
Pacesetter Fabrics, LLC, asks the U.S. Bankruptcy Court for the
Central District of California for permission to employ Rutter
Hobbs & Davidoff Incorporated as general bankruptcy counsel.

RHD will advise the Debtor as to its duties under the Bankruptcy
Code, and its prosecution claims in the bankruptcy case; assist in
connection with its financial affairs; and prepare a plan of
reorganization or sale of assets.

Brian L. Davidoff, Esq., a shareholder in RHD, tells the Court
that RHD rendered professional services to the Debtor prior to the
filing of the Petition in the total amount of $42,520.  Prior to
the Petition Date, RHD received $39,843 of the amount, plus an
additional retainer of $108,156.    RHD agreed to waive $2,677 of
the prepetition services rended.  The cource of the retainer was
partially the Debtor's income from operation of business, with
respect to $123,000 received.  The addtional $25,000 was paid
directly by Mixxed 26, LLC to RHD.  Mixxed 26 is a customer of the
Debtor, who had borrowed funds from the Debtor, and the $25,000
represented a partial repayment of the loan owed by Mixxed 26 to
the Debtor.

The hourly rates of RHD's personnel are:

         Partners                 $360 - $560
         Associates               $270 - $390
         Paralegals                $80 - $180

The principal attorneys who will work in the case and their hourly
rates are:

         Mr. Davidoff                 $560
         C. John M. Melissinos        $425
         Claire E. Shin               $310

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

                     About Pacesetter Fabrics

Based in City of Commerce, California, Pacesetter Fabrics, LLC,
dba Pacesetter Off Price and Pacesetter Garments, is a distributor
of quality textile and garment fabrics in the United States and
international markets.  The Company has been in business for over
14 years.  The Company is owned 98% by Net, LLC, a California
limited liability company, 1% by Leora Namvar (Ramin Namvar's
wife), and 1% by Massoud Poursalimi (Leora Namvar and David
Poursalimi's father).  Net LLC is in turn owned 99% by Ramin
Namvar and 1% Leora Namvar.

Pacesetter Fabrics filed for Chapter 11 bankruptcy (Bankr. C.D.
Calif. Case No. 11-36330) on June 17, 2011, estimating assets and
debts of $10 million to $50 million.  Judge Ernest M. Robles
presides over the case.  The Debtor is represented by Brian L.
Davidoff, Esq., C. John M. Melissinos, Esq., and Claire E. Shin,
Esq., at Rutter Hobbs & Davidoff Incorporated.

Brian Wygle -- Brian@lazarusresources.com -- president of Lazarus
Resources Group, LLC, a corporate turnaround consultant, assists
Pacesetter with its turnaround and reorganization efforts and the
financial affairs and management of the Company.


PACESETTER FABRICS: Taps Lazarus Resources as Turnaround Advisor
----------------------------------------------------------------
Pacesetter Fabrics, LLC, asks the U.S. Bankruptcy Court for the
Central District of California for permission to employ Lazarus
Resources Group, LLC as turnaround consultant and financial
advisor.

Lazarus Resources will, among other things:

   1. undertake an independent analysis and review of the Debtor's
   business and operations, and identify additional opportunities
   for improvement with the objective of recommending and
   implementing specific changes throughout the sales and revenue
   cycle;

   2. prepare an inventory reduction and sales plan pursuant to
   the Debtor's cash collateral stipulation with the Debtor's
   primary secured lender, Cathay Bank; and

   3. oversee and review the preparation of all financial data and
   reports including the Debtor's cash flow projections, schedules
   of assets and liabilities, statement of financial affairs,
   budget-to-actual reports, and monthly operating reports to be
   filed in connection with the case.

Pursuant to the engagement agreement, the Debtor will pay Lazarus
Resources $10,000 for services rendered during the week of
June 18, to 24, 2011, and additional fees of $2,000 per week, to
be paid on a bi-weekly basis thereafter and on every other Friday
until termination of the engagement agreement.

Lazarus Resources currently held $14,000 in its client trust
account.

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

                     About Pacesetter Fabrics

Based in City of Commerce, California, Pacesetter Fabrics, LLC,
dba Pacesetter Off Price and Pacesetter Garments, is a distributor
of quality textile and garment fabrics in the United States and
international markets.  The Company has been in business for over
14 years.  The Company is owned 98% by Net, LLC, a California
limited liability company, 1% by Leora Namvar (Ramin Namvar's
wife), and 1% by Massoud Poursalimi (Leora Namvar and David
Poursalimi's father).  Net LLC is in turn owned 99% by Ramin
Namvar and 1% Leora Namvar.

Pacesetter Fabrics filed for Chapter 11 bankruptcy (Bankr. C.D.
Calif. Case No. 11-36330) on June 17, 2011, estimating assets and
debts of $10 million to $50 million.  Judge Ernest M. Robles
presides over the case.  The Debtor is represented by Brian L.
Davidoff, Esq., C. John M. Melissinos, Esq., and Claire E. Shin,
Esq., at Rutter Hobbs & Davidoff Incorporated.

Brian Wygle -- Brian@lazarusresources.com -- president of Lazarus
Resources Group, LLC, a corporate turnaround consultant, assists
Pacesetter with its turnaround and reorganization efforts and the
financial affairs and management of the Company.


PARAMOUNT LIMITED: Alleged Ponzi Scheme Files for Chapter 11
------------------------------------------------------------
Paramount Limited LLC filed a Chapter 11 petition (Bankr. E.D.
Mich. Case No. 11-59829) on July 21, 2011, in Detroit, Michigan

Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Paramount Limited, an investor in distressed real
estate, sought bankruptcy protection after a state court appointed
a receiver to take over.  The receiver was appointed at the behest
of the Police and Fire Retirement System of the City of Detroit,
which was listed by Paramount as having a $13.2 million unsecured
claim.

In May when it filed suit for the receiver, the Retirement System
said Paramount was "a classic Ponzi scheme."

The Debtor estimated assets of more than $10 million and debt of
less than $10 million.

Jayson Russ, a lawyer for Paramount from McDonald Hopkins
Plc in Bloomfield Hills, Michigan, said he couldn't comment on
allegations that the company was a Ponzi scheme.


PARAMOUNT LIMITED: Case Summary & Largest Unsecured Creditor
------------------------------------------------------------
Debtor: Paramount Limited, LLC
        453 Martin Luther King, Jr. Boulevard
        Detroit, MI 48201

Bankruptcy Case No.: 11-59829

Chapter 11 Petition Date: July 21, 2011

Court: U.S. Bankruptcy Court
       Eastern District of Michigan (Detroit)

Judge: Thomas J. Tucker

Debtor's Counsel: Stephen M. Gross, Esq.
                  MCDONALD HOPKINS, PLC
                  39533 Woodward Avenue, Suite 318
                  Bloomfield Hills, MI 48304
                  Tel: (248) 646-5070
                  E-mail: sgross@mcdonaldhopkins.com

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

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

The petition was signed by Abner McWhorter, managing member.

Affiliates that simultaneously sought Chapter 11 protection:

  Debtor                           Case No.
  ------                           --------
Paramount Land Holdings, LLC       11-59837
Paramount Servicing, LLC           11-59841
Paramount Land Holdings, LLC       11-59842

The list of unsecured creditors filed together with its petition
contains only one entry:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
The Police & Fire Retirement       Trade Debt          $13,220,000
System of The City of Detroit
c/o Marie Racine
1001 Woodward Avenue, Suite 1100
Detroit, MI 48226


PEARLAND SUNRISE: U.S. Trustee Wants Case Dismissed or Converted
----------------------------------------------------------------
Judy A. Robbins, the U.S. Trustee for Region 7, asks the U.S.
Bankruptcy Court for the Western District of Texas to dismiss, or
in the alternative convert the Chapter 11 case of Pearland Sunrise
Lake Village I, LP to one under Chapter 7 of the Bankruptcy Code.

The U.S. Trustee explains that the Debtor has not filed complete
and accurate monthly operating reports on a regular basis.
Without operating reports, the Court, the U.S. Trustee, and the
creditors are unable to determine if the Debtor has a reasonable
likelihood of rehabilitation or if there has been a continuing
loss to or diminution of the estate.  The Court, the U.S. Trustee,
and the creditor do not know whether Debtor is paying its
postpetition obligations as they come due or whether Debtor is
accruing administrative expenses.

Marble Falls, Texas-based Pearland Sunrise Lake Village I, LP, dba
SRLVI, was chartered in June 2005 for the purpose of acquiring and
developing an approximately 5.8 acres of land at 9415 Broadland,
Texas.  Office space of 36,008 square feet of retail space and
42,973 square feet of office space was built on the property.  The
Company filed for Chapter 11 bankruptcy protection (Bankr. W.D.
Tex. Case No. 10-11926) on July 9, 2010.  Frank B. Lyon, Esq., at
the Law Offices of Frank B. Lyon, in Austin, Texas, represents the
Debtor.  In its schedules, the Debtor disclosed $10,253,717 in
assets and $16,222,127 in liabilities.


PENINSULA HOSPITAL CENTER: To Close; 1,000 Jobs Affected
--------------------------------------------------------
Crain's New York Business reports sources say Peninsula Hospital
Center, one of two hospitals serving Far Rockaway, Queens, is set
to close 90 days after state officials confirm a closure plan for
the 200-bed hospital.  Some 1,000 workers would lose their jobs if
the plan goes forward.  The report saysspokesmen from the state
Department of Health and MediSys were not immediately available
for comment.  On the Net: http://www.peninsulahospital.org/


PERRY'S INC: Places Ocean Resort on Auction Block
-------------------------------------------------
Hilary Lehman at the Daytona Beach News-Journal reports that the
foreclosure auction of Perry's Ocean Edge Resort, at 2209 S.
Atlantic Ave., has been rescheduled for Aug. 3, 2011.  The auction
was originally scheduled for July 6, 2011. The company's
outstanding loan balance is $12.8 million.

Founded in 1941, the hotel has long been a Daytona Beach Shores
landmark, popular with snowbirds and families.  This is not the
company's first financial hurdle; Perry's Inc. filed for Chapter
11 bankruptcy protection in 1997, but came out of it a year later
with a repayment plan.

In June, the company's loan was listed for auction with
Auction.com as part of a loan refinancing strategy, adds Ms.
Lehman.


PHICOF LLC: Case Summary & 11 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Phicof, LLC
        1000A Sidney Baker South
        Kerrville, TX 78028

Bankruptcy Case No.: 11-52527

Chapter 11 Petition Date: July 21, 2011

Court: United States Bankruptcy Court
       Western District of Texas (San Antonio)

Judge: Leif M. Clark

Debtor's Counsel: Shelby A. Jordan, Esq.
                  JORDAN, HYDEN, WOMBLE AND CULBRETH, P.C.
                  500 North Shoreline, Suite 900 N
                  Corpus Christi, TX 78401
                  Tel: (512) 884-5678
                  Fax: (361) 888-5555
                  E-mail: sjordan@jhwclaw.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 11 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/txwb11-52527.pdf

The petition was signed by Andrew B. Phillips, Sr., manager.


PINK MOON: Judge Olson Dismisses Chapter 11 Case
------------------------------------------------
The Hon. John K. Olson of the U.S. Bankruptcy Court for the
Southern District of Florida dismissed the Chapter 11 case of
Pink Moon Enterprises LLC because no one appeared at the status
conference and no pleadings have been filed seeking to continue
the conference or otherwise address issues in this case.

Phillip McFillin, a manager/member of Deerfield Beach, Florida-
based Pink Moon Enterprises LLC, filed a Chapter 11 involuntary
petition against the Company on March 16, 2011 (Bankr. S.D. Fla.
Case No. 11-16907).  Mr. McFillin claims that he is owed $1.175
million.


PJ FINANCE: Plan Filing Period Extended Until Aug. 31
-----------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware has
extended PJ Finance Company, LLC, et al.'s exclusive periods to
file a plan and to solicit acceptances thereof to Aug. 31, 2011,
and Dec. 15, 2011, respectively.

On July 1, 2011, the Debtors filed the motion seeking the
extension of their exclusive filing period and solicitation period
from July 5, 2011, and Sept. 5, 2011, respectively, to Nov. 15,
2011, and Jan. 16, 2002.

On July 15, 2011, the Official Committee of Unsecured Creditors
filed its limited objection to the requested extension of the
Debtors' exclusivity periods, citing that a lengthy 133 day
extension is not warranted, and suggested instead the extension of
the exclusive filing period until Sept. 30, 2011, and the
exclusive solicitation period to Nov. 28, 2011.  The Committee
said this reasonable extension of the 71 days from the July 20
hearing date allows the Debtors ample additional time to move
these cases forward, while, at the same time, provide other
parties, including the Committee, with an approximate two month
window to formulate and propose an alternative plan if the
Debtors' efforts are unsuccessful.

                     Torchlight Plan Deadline

Bill Rochelle, the bankruptcy columnist for Bloomberg News, notes
that the end of August is also the deadline for coming up with a
plan "reasonably acceptable" to Torchlight Loan Services LLC, the
special servicer for $475 million in mortgage-backed securities,
according to the July 20 order allowing continued use of cash
representing the lenders' collateral.  If there isn't an
acceptable plan by the deadline, PJ's right to use cash ceases.

Torchlight, Mr. Rochelle points out, had been arguing for
dismissal of the bankruptcy, contending the Chapter 11 filing
wasn't made in good faith.

                         About PJ Finance

Chicago, Illinois-based PJ Finance Company, LLC, owns apartment
communities in the states of Arizona, Florida, Georgia, Tennessee
and Texas.  PJ Finance owns or holds ownership interests in 32
apartment communities that collectively have more than 9,500
rentable units.  It has 20 apartment locations in Texas, and the
remaining 12 in Arizona, Florida, Georgia and Tennessee.  The day-
to-day operations of the portfolio are managed by a third party,
WestCorp Management Group One, Inc.

PJ Finance and various affiliates filed for Chapter 11 bankruptcy
protection (Bankr. D. Del. Lead Case No. 11-10688).  Michelle E.
Marino, Esq., and Stuart M. Brown, Esq., at DLA Piper LLP (US), in
Wilmington, Delaware, serve as bankruptcy counsel.  The Debtor
also tapped Angell Palmer & dodge LLP as its local Delaware
counsel, Kurtzman Carson Consultants, LLC, as its claims and
notice agent.

An official committee of unsecured creditors has been named in the
case.  Christopher A. Jarvinen, Esq., and Mark T. Power, Esq., at
Hahn & Hessen LLP, represent the committee as lead counsel.
Richard Scott Cobb, Esq., and William E. Chipman, Jr., Esq., at
Landis Rath & Cobb, in Wilmington, Del., serve as the committee's
local counsel.

The Debtors estimated total assets of at least $275 million
(estimated value of portfolio securing loan to Bank of America)
and total debts of at least $479 million ($475 million owed to
BofA, $4.4 million trade debt).

PJ Finance said it has a commitment for Gaia Real Estate
Investments LLC to invest $42 million and serve as the foundation
for a reorganization plan.


PJ FINANCE: Has Interim Authority to Use Cash Collateral
--------------------------------------------------------
Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the
District of Delaware authorized PJ Finance Company, LLC and its
debtor affiliates, on an interim basis, to use cash collateral.

Failure of the Debtors to file a plan and related disclosure
statement on or before August 31, 2011, will constitute an event
of default, which may cause the termination, reduction or
restriction of the ability of the Debtors to use any cash
collateral.

A final hearing on the cash collateral motion will be held on
September 21, 2011, at 10:30 a.m.  Objections are due
September 14.

A full-text copy of the Interim Cash Collateral Order is available
for free at http://ResearchArchives.com/t/s?7688

                         About PJ Finance

Chicago, Illinois-based PJ Finance Company, LLC, owns apartment
communities in the states of Arizona, Florida, Georgia, Tennessee
and Texas.  PJ Finance owns or holds ownership interests in 32
apartment communities that collectively have more than 9,500
rentable units.  It has 20 apartment locations in Texas, and the
remaining 12 in Arizona, Florida, Georgia and Tennessee.  The day-
to-day operations of the portfolio are managed by a third party,
WestCorp Management Group One, Inc.

PJ Finance and various affiliates filed for Chapter 11 bankruptcy
protection (Bankr. D. Del. Lead Case No. 11-10688).  Michelle E.
Marino, Esq., and Stuart M. Brown, Esq., at DLA Piper LLP (US), in
Wilmington, Delaware, serve as bankruptcy counsel.  The Debtor
also tapped Angell Palmer & dodge LLP as its local Delaware
counsel, Kurtzman Carson Consultants, LLC, as its claims and
notice agent.

An official committee of unsecured creditors has been named in the
case.  Christopher A. Jarvinen, Esq., and Mark T. Power, Esq., at
Hahn & Hessen LLP, represent the committee as lead counsel.
Richard Scott Cobb, Esq., and William E. Chipman, Jr., Esq., at
Landis Rath & Cobb, in Wilmington, Del., serve as the committee's
local counsel.

The Debtors estimated total assets of at least $275 million
(estimated value of portfolio securing loan to Bank of America)
and total debts of at least $479 million ($475 million owed to
BofA, $4.4 million trade debt).

PJ Finance said it has a commitment for Gaia Real Estate
Investments LLC to invest $42 million and serve as the foundation
for a reorganization plan.


PRECISION PARTS: Targets Sept. Confirmation for 0.15% Payment Plan
------------------------------------------------------------------
Last month PPI Holdings, Inc., et al., filed the First Amended
Disclosure Statement regarding the Joint Chapter 11 Plan of
Liquidation by the Debtors and the Official Committee of Unsecured
Creditors dated as of Sept. 30, 2010.

The Debtors asked the Bankruptcy Court to fix July 18, 2011, for
determining, among other things, the creditors entitled to receive
ballots and materials necessary for voting on the Plan.  The
Debtors further ask the Court to schedule a hearing for Sept. 12,
2011, at 10:00 a.m. to confirm the Plan.

The Debtors ask the Court to establish these deadlines:

      i) August 22, 2011    --  Plan Objection Deadline
     ii) August 22, 2011    --  Voting Deadline
    iii) September 7, 2011  --  Reply to Plan Objections Deadline

The Plan provides for the transfer of the assets and liabilities
of the Debtors to the Liquidating Trust which will be administered
by the Liquidating Trustee, who will, among other things,
distribute the proceeds from the Assets to the Creditors.

The Debtors designate six Classes of Claims and one (1) Class of
Interests.  Priority Unsecured Claims in Class 1 and Other Secured
Claims in Class 2 are Unimpaired under the Plan and are deemed to
accept the Plan.

Convenience Claims in Class 3, General Unsecured Claims in Class
4, and Lender Deficiency Claims in Class 5 are Impaired and are
Entitled to Vote.

Intercompany Claims in Class 6 and Interests in Class 7 are
Impaired and are deemed to reject the Plan.

Under the Plan, Class 1 Priority Unsecured Claims will be paid in
full on the Effective Date.  Class 2 Other Secured Claims will, at
the option of the Liquidating Trustee, receive (i) 100% of their
Claims in Cash in full on the Effective Date, or (ii) the
collateral securing their Claims.

Class 3 Convenience Claims will receive, in full satisfaction of
their Claims, Cash in amount equal to 3.5% of their Claims,
without Postpetition Interest.

Each holder of a Class 4 General Unsecured Claim will receive its
pro rata share of $150,000, which will be funded into the General
Unsecured Reserve Account on the Effective Date.  The Proponents
estimate that the total amount of Class 4 General Unsecured Claims
is approximately $103,140,000.  Accordingly, the Proponents
estimate that Holders of Allowed General Unsecured Claims will
receive a minimum Pro Rata distribution equal to approximately
0.15% of their Allowed Claims.

The bulk of anticipated distribution to Class 4 will come from
recoveries in Avoidance Actions and other litigation.

Class 5 Lender Deficiency Claims will receive Cash in an amount
equal to the Holder's Pro Rata share of the remaining funds
in the Liquidating Trust after Claims in Class 1 through
Class 4 and expenses of the Liquidating Trust have been
paid in full.

Class 6 Intercompany Claims and Class 6 Interests will not receive
any distributions.  These Claims will be extinguished.

A copy of the First Amended Disclosure Statement is available at:

         http://bankrupt.com/misc/ppi.firstamendedDS.pdf

                       About Precision Parts

Headquartered in Rochester Hills, Michigan, Precision Parts
International Services Corp. -- http://www.precisionparts.com/--
sold products to major north American automotive and non-
automotive original equipment manufacturers and Tier 1 and 2
suppliers.  PPI and its units operated six manufacturing
facilities throughout North America, including a facility in
Mexico operated on their behalf by Intermex Manufactura de
Chihuahua under a shelter and logistics agreement.

The Company and eight of its affiliates filed for Chapter 11
protection on Dec. 12, 2008 (Bankr. D. Del. Lead Case No.
08-13289).  Attorneys at Pepper Hamilton LLP serve as the Debtors'
bankruptcy counsel.  Alvarez & Marsal North America LLC is the
Debtor's financial advisors and Kurtzman Carson Consultants LLC is
the claims, noticing and balloting agent.  PPI Holdings, Inc.,
estimated assets and debts between $100 million and $500 million
in its Chapter 11 petition.

Attorneys at Stevens & Lee, P.C., represent the Creditors
Committee as counsel.

On March 13, 2009, the Bankruptcy Court approved the Debtors'
proposed sale of substantially all of their assets to Cerion, LLC.
The sale closed on March 26, 2009.  The Debtors received net
proceeds of approximately $16,031,508 after an agreed upon working
capital adjustment.


PROTECTIVE PRODUCTS: Asks Court to Reset Plan Confirmation Hearing
------------------------------------------------------------------
Protective Products of America, Inc., et al., ask the U.S.
Bankruptcy Court for the Southern District of Florida to reset the
hearing to consider confirmation of the Third Amended Plan of
Liquidation for the Debtors proposed by the Official Committee of
Unsecured Creditors.

The Debtors also request that the Court enter an order:

   a) scheduling the confirmation hearing on the Third Amended
      Plan;

   b) scheduling the hearing to consider the applications for
      compensation of the estates' professionals; and

   c) setting a deadline by which the estate professionals must
      supplement their pending applications for compensation.

The Debtors relate that at the initial confirmation hearing held
March 1, the Court abated and continued the hearing to consider
confirmation of the Third Amended Plan to allow the parties to (i)
proceed with prosecution of the adversary proceeding filed by the
Debtors against Michael Frank to enjoin Mr. Frank from prosecuting
an action in Canada; and (ii) attempt to resolve issues related to
indemnification claims asserted by Bayshore Partners, LLC and
Frank E. Jaumot and the Committee's objections thereto.

The Debtors note that the Court granted the Debtors' motion for a
preliminary injunction in the Frank Adversary Proceeding on
March 17.  On May 17, the Court entered its default final judgment
and permanent injunction against defendant, Michael Frank in the
Frank Adversary.  The final judgment permanently enjoins Mr. Frank
from prosecuting the Canadian Action.  As of the date hereof,
however, the Canadian Action has not been dismissed.

In addition, there has been no resolution of the indemnification
claims, according to the Debtors.

The Debtors expect for the Committee and the holders of the
indemnification claims to continue their good faith discussion
regarding a resolution of the claims.  The Debtors also believe
that setting of the confirmation hearing may serve to incentivize
the parties to resolve, or narrow the scope of, their disputes.

                        The Committee Plan

As reported in the Troubled Company Reporter on Jan. 3, 2011, the
Plan proposed by the Committee provides for, among other things,
the collection of the Debtors' portion of certain income tax
refunds, the pursuit of certain litigation, including but not
limited to avoidance actions and causes of action, and the
distribution of the Creditor Trust Assets.

Under the Plan, holders of general unsecured claims will receive a
pro rata share of cash proceeds of the Creditor Trust Assets.  The
cash available to pay allowed general unsecured claims is provided
from the liquidation of all of the Creditor Trust Assets.  The
Committee estimates that the actual recovery for holders of
allowed general unsecured claims will be approximately $2,669,559.
The Committee believes that the recovery pursuant to the Plan is
more than the recovery the holders would realize upon liquidation
of these cases under chapter 7 of the Bankruptcy Code.  The
Committee also believes that the additional administrative
expenses of a chapter 7 trustee and its professionals would
dilute the distribution available to general unsecured creditors.

A full text copy of the Committee's Plan Outline is available for
free at:

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

                          Debtors' Plan

Management has also proposed a Chapter 11 plan for the Debtors.

The Debtors' Plan provides for the collection of the Debtors
portion of certain income tax refunds, the pursuit of litigation
claims, and the distribution of the foregoing together with the
proceeds from the sale of substantially all of the Debtors assets
to Protective Products Enterprises, Inc., which closed on March 5,
2010.

Under the Plan, holders of general unsecured claims will receive a
pro rata share of cash proceeds.  The cash available to pay
allowed general unsecured claims is provided from the liquidation
of all of the Debtors assets and the pursuit of litigation claims,
if any.  As of September 30, the Debtors had $971,586 in cash on
hand.  The Debtors estimate that they may receive up to an
additional $2.3 million from the purchaser on account of state and
federal tax refunds sold to the purchaser, although the actual
amount of the tax refunds received, and therefore, the amount paid
by the purchaser to the Debtors may be less.  The funds will be
available for distribution to the holders of allowed claims.

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

            About Protective Products of America, Inc.

Sunrise, Florida-based Protective Products of America, Inc.,
formerly known as Ceramic Protection Corporation --
http://www.protectiveproductsofamerica.com/-- engages in the
design, manufacture and marketing of advanced products used to
provide ballistic protection for personnel and vehicles in the
military and law enforcement markets.

The Company filed for Chapter 11 bankruptcy protection on
January 13, 2010 (Bankr. S.D. Fla. Case No. 10-10711).  The
Company's affiliates -- PC Holding Corporation of America; Ceramic
Protection Corporation of America; Protective Products
International Corp.; and Protective Products of North Carolina,
LLC -- also filed separate Chapter 11 petitions.  Protective
Products disclosed $86,678,781 in assets and $27,460,502 in
liabilities as of the Petition Date.


QUAKERTOWN MOOSE: Shuts Doors, Declares Chapter 7 Liquidation
-------------------------------------------------------------
Hilary Bentman at phillyBurbs.com reports that Quakertown Moose
Lodge has filed for Chapter 7 banrkuptcy.

For almost a century, the Quakertown Moose Lodge has raised money
for people near and far.  Its members have supported the American
Cancer Society, helped purchase equipment for military personnel
overseas, and supported fire companies, sports groups and other
Quakertown area organizations.  But in the last few years, the
Quakertown Moose found itself struggling to make ends meet.
Quakertown Moose finally shut its doors, according to the report.

Ms. Bentman says, in August 2010, the lodge declared Chapter 11
bankruptcy hoping for the opportunity to regroup.  The plan was to
sell the building and lease the bottom floor for its needs.
But a judge would not permit the sale.

Quakertown Moose Lodge #1622 dba Quakertown Moose Lodge filed for
Chapter 11 bankruptcy protection (Bankr. E.D. Pa. Case No. 10-
16715) on Aug. 10, 2011.


QSGI INC: KruseCom Unit Has 4 Significant New Customers
-------------------------------------------------------
QSGI, Inc. disclosed that its KruseCom unit has acquired four
significant new customers in recent days.  The size and diversity
of these four companies reflect the broad range of services that
KruseCom provides for major enterprises.

For a London based wholesale brokerage intermediary KruseCom is
providing I.T. Asset Management services with full service Data
Security Compliance and Reporting of end-of-life computer
equipment at two facilities.

In the mid-west KruseCom is managing remarketing and resale of
over 400 mobile tablet computer devices for a delivery company.
These units are late model, and were excess inventory of the
owner.

KruseCom conducted its first transaction with a new leasing
company, providing audit and remarketing services for laptops
returning from initial lease.

KruseCom also purchased a large lot of Ultrasound and other
medical equipment from a manufacturer of health care solutions and
equipment.

Marc Sherman, Managing Member of KruseCom, LLC, and Chairman/CEO
of QSGI, Inc., explained, "We are pleased with the new-customer
acquisition efforts and results in our KruseCom unit. These
transactions represent the kind of customers we seek to serve, and
illustrate the broad range of services that KruseCom adds to the
QSGI portfolio of offerings.  We appreciate the chance to work
with these new customers.  We are also mindful of our appreciation
for our legacy and new shareholders who supported the recent
merger between KruseCom and QSGI.  As we continue moving closer to
our exit from bankruptcy protection we have achieved another
milestone; the trailing Q on our ticker symbol has now been
removed.  This ensures that our legacy shareholders' stock will
remain intact.

                       About KruseCom

KruseCom 'Buys, Sells, and Maintains Enterprise I.T.' KruseCom's
portfolio of products and services is designed to help
corporations and government organizations to better manage their
surplus information technology assets.  KruseCom customers benefit
by reducing their maintenance expenses, building best practices
for data security, and assuring regulatory compliance.  Addressing
the entire range of IT platforms -- from mainframes, midrange
servers and PCs, to network infrastructure and enterprise storage
hardware, the services offered by KruseCom are designed to reduce
total cost of ownership for IT assets and maximize the clients'
return on their IT investments.

                       About QSGI Inc.

Palm Beach, Florida-based QSGI, Inc., et al., operated as a
technology services provider, offering a full suite life-cycle for
their corporate and government clients' entire information
technology platform.  The Debtors serviced three separate business
segments: Data Center Maintenance Services; Data Security and
Compliance; and Network Infrastructure Design and Support.  The
Debtors filed for Chapter 11 protection on July 2, 2009 (Bankr.
S.D. Fla. Lead Case No. 09-23658).  Michael A Kaufman, Esq., at
Michael A. Kaufman, P.A., in West Palm Beach, Fla., represents the
Debtors as counsel.

In its schedules, QSGI, Inc., disclosed $8,511,894 in assets and
$11,110,417 in liabilities.

On Sept. 24, 2009, the Bankruptcy Court approved the sale of
substantially all of the assets of the DSC division of QSGI to
Victory Park Capital, and the sale of substantially all assets of
the DCM division of Qualtech Services Group, Inc., to SMS
Maintenance, LLC.  Following the closing of the DSC Sale and the
DCM Sale, the Debtors ceased substantially all business
operations.

As reported in the TCR on March 29, 2011, the Bankruptcy Court
confirmed on March 21, 2011, the Debtors' Third Amended Plan of
Reorganization filed by QSGI, Inc., QSGI-CCSI, Inc., and Qualtech
Services Group, Inc., dated Feb. 1, 2011.  The confirmation order
was entered by the Judge on May 4, 2011.


QUINCY MEDICAL: Court OKs O'Neil & Associates as Advisors
---------------------------------------------------------
The U.S. Bankruptcy Court for the District of Massachusetts has
approved Quincy Medical Center Inc.'s application to employ and
O'Neill and Associates as public relations advisor.

As reported in the Troubled Company Reporter on July 15, 2011,
O'Neill and Associates will render strategic communications and
public relations services related to all aspect of the Debtors'
Chapter 11 cases, their planned sale of hospital and related
matters.

The firm holds a retainer amount of $10,500 paid by the Debtors
out of operating revenues as of the Debtors' bankruptcy filing.

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

                   About Quincy Medical Center

Quincy Medical Center is a 196-bed, nonprofit hospital in Quincy,
Massachusetts.

Quincy Medical Center, Inc. together with two affiliates, sought
Chapter 11 protection (Bankr. D. Mass. Lead Case No. 11-16394) on
July 1, 2011.

John T. Morrier, Esq., at Casner & Edwards, LLP, in Boston, serves
as counsel to the Debtors.  Navigant Capital Advisor LLC and
Navigant Consulting Inc. serve as financial advisors.  Epiq
Bankruptcy Solutions LLC is the claims, noticing, and balloting
agent.

Quincy disclosed assets of $73 million and liabilities of
$79.4 million.  Debt includes $56.4 million owing on secured bonds
issued through a state health-care finance agency.  There is
another $2.5 million secured obligation owing to Boston Medical
Center Corp.  Accrued liabilities are $18.2 million.


QUINCY MEDICAL: Judge Authorizes Firm to Hold August Auction
------------------------------------------------------------
Dow Jones' DBR Small Cap reports that Quincy Medical Center Inc.
won bankruptcy-court approval to put its Boston-area general
hospital on the auction block next month with a leading bid from a
local hospital chain.

                   About Quincy Medical Center

Quincy Medical Center is a 196-bed, nonprofit hospital in Quincy,
Massachusetts.

Quincy Medical Center, Inc. together with two affiliates, sought
Chapter 11 protection (Bankr. D. Mass. Lead Case No. 11-16394) on
July 1, 2011.

John T. Morrier, Esq., at Casner & Edwards, LLP, in Boston, serves
as counsel to the Debtors.  Navigant Capital Advisor LLC and
Navigant Consulting Inc. serve as financial advisors.  Epiq
Bankruptcy Solutions LLC is the claims, noticing, and balloting
agent.

Quincy disclosed assets of $73 million and liabilities of
$79.4 million.  Debt includes $56.4 million owing on secured bonds
issued through a state health-care finance agency.  There is
another $2.5 million secured obligation owing to Boston Medical
Center Corp.  Accrued liabilities are $18.2 million.


RASER TECHNOLOGIES: Creditor Objects to Reorganization Plan
-----------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports Raser Technologies Inc. comes to bankruptcy court today,
July 26, to seek approval of the disclosure statement explaining
its proposed Chapter 11 plan.

Mr. Rochelle relates that Raser will face opposition from a
secured creditor owed $3.6 million by a subsidiary known as
Lightning Dock, a project in development.  The secured creditor,
Evergreen-FE Lightning Dock LLC, described in its July 19 papers
how the plan would take away the subsidiary's property and give it
to the parent without any payment to the subsidiary's creditors.

According to the report, Evergreen controls the only two voting
classes in Lightning Dock's plan.  Since the subsidiary's plan
can't be confirmed, the parent's plan provides that the secured
lender for the Chapter 11 case will foreclose the subsidiary's
property.  Evergreen noted that it has an appeal pending against
the bankruptcy court order approving the Chapter 11 financing.
Evergreen contends the financing didn't provide any value to the
subsidiary and shouldn't have been approved given that the
subsidiary's assets were pledged to secure a loan for the parent.

Raser's plan, Mr. Rochelle relates, would sell the business to a
group including Linden Advisors LP and Tenor Capital Management LP
in exchange for debt they hold and $2.5 million cash. Unsecured
creditors would receive interests in a litigation trust.  Linden
and Tenor are providing financing for the Chapter 11 case.  They
already own about half of the $57.2 million owing on 8%
convertible senior unsecured notes, a court filing said.

                     About Raser Technologies

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

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

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

A three-member official committee of unsecured creditors has been
formed in the Chapter 11 case.  Foley & Lardner LLP represents the
Committee.  The Committee also tapped Womble Carlyle Sandridge &
Rice, PLLC, as co-counsel, BDO Consulting, a division of BDO USA,
LLP, as its financial advisor and accountant; and BDO Capital
Advisors, LLC its investment banker.

The Company reported a net loss of $101.80 million on
$4.25 million of revenue for the fiscal year ended Dec. 31, 2010,
compared with a net loss of $20.90 million on $2.19 million of
revenue during the prior year.

The Company's balance sheet at Dec. 31, 2010, showed
$41.84 million in total assets, $107.78 million in total
liabilities, $5.00 million of Series A-1 cumulative convertible
preferred stock, and a stockholders' deficit of $70.94 million.


RIDGE PARK: Case Summary & 13 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Ridge Park Office, LLC
        One Betterworld Circle, Suite 300
        Temecula, CA 92590

Bankruptcy Case No.: 11-33683

Chapter 11 Petition Date: July 22, 2011

Court: U.S. Bankruptcy Court
       Central District of California (Riverside)

Judge: Catherine E. Bauer

Debtor's Counsel: Krikor J. Meshefejian, Esq.
                  LEVENE, NEALE, BENDER, YOO & BRILL LLP
                  10250 Constellation Boulevard, Suite 1700
                  Los Angeles, CA 90067
                  Tel: (310) 229-1234
                  Fax: (310) 229-1244
                  E-mail: kjm@lnbrb.com

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

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

The petition was signed by Paul Garrett, president of Redhawk
Communities, Inc.

Debtor-affiliates filing separate Chapter 11 petitions:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Diaz Road Properties, LLC             11-28473            06/06/11
RCI Redbird, LLC                      11-28479            06/06/11
RCI Regional Grove, LLC               11-22055            04/12/11
RCI Rio Nedo, LLC                     11-28470            06/06/11
Woods Canyon Associates L.P.          11-32418            07/11/11

Debtor's List of 13 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Security Signal Devices, Inc.      Services                   $837
1740 N. Lemon Street
Anaheim, CA 92801

The Fire Extinguisher Service Co   Services                   $750
Tricon Fire and Electric
P.O. Box 7106
Orange, CA 92863

Universal Protection Security      Services                   $551
Systems, L.P.
1815 E. Wilshire Avenue, #910
Santa Ana, CA 92705

Ascentia Engineering Services Inc. Services                   $550

Safe And Secure Locksmith Service  Services                   $525

Ambius, Inc.                       Services                   $402

Talega Security Inc.               Services                   $350

Gorm Inc.                          Services                   $302

US Air Conditioning Distributor    Services                   $297
Inc.

All Valley Honey & Bee             Services                   $175

Orkin Pest Control                 Services                    $66

Hank's Hardware And Lumber, Inc.   Services                    $57

Refrigeration Supplies Distributor Services                    $27


RIVER ROAD: Lenders Win Approval for Chapter 11 Plan in Case
------------------------------------------------------------
Dow Jones' DBR Small Cap reports that lenders that funded the
construction of the InterContinental Chicago O'Hare are now set to
take control of the airport hotel under a freshly confirmed
Chapter 11 plan they proposed in the case.

                       About River Road Hotel

River Road Hotel Partners, LLC, developed and manages the
InterContinental Hotel Chicago O'Hare located in Rosemont,
Illinois.  Affiliate RadLAX Gateway Hotel LLC owns the Radisson
hotel at Los Angeles International Airport.  Both are ultimately
controlled owned by Harp Group.

River Road and its affiliates filed Chapter 11 in Chicago (Bankr.
N.D. Ill. Lead Case No. 09-30029) on Aug. 17, 2009.  Based in Oak
Brook, Illinois, River Road estimated assets of as much as
$100 million and debt of as much as $500 million in its Chapter 11
petition.  River Road disclosed $0 in assets and $14,400,000 in
liabilities as of the Chapter 11 filing.  Terrence O'Brien & Co.
serves as the Debtors' appraiser, and Madigan & Getzendanner as
serves as the Debtors' special counsel.

RadLAX and its affiliates filed a separate chapter 11 petition
(Bankr. N.D. Ill. Case No 09-30047), estimating assets at
$50 million to $100 million.

David M. Neff, Esq., at Perkins Coie LLP, serves as counsel to the
River Road and RadLAX debtors.  The two cases, however, are not
jointly administered.

The Official Committee of Unsecured Creditors is represented by
Stephen T. Bobo and Ann E. Pille at Reed Smith LLP.

Adam A. Lewis, Esq., and Norman S. Rosenbaum, Esq., of Morrison
Foerster LLP of San Francisco, California; and John W. Costello,
Esq., and Mary E. Olson, Esq., of Wildman, Harrold, Allen & Dixon
LLP of Chicago, Illinois, represent Amalgamated Bank.  John
Sieger, Esq., and Andrew L. Wool, Esq., of Katten Muchin Rosenman
LLP represent U.S. Bank.


RUSSELL 150: Files For Chapter 11 Bankruptcy Protection
-------------------------------------------------------
Russell 150, LC, filed a Chapter 11 petition (Bankr. W.D. Va. Case
No. 11-51041) in Harrisonburg, Virginia, on July 20, 2011.

Alex Bridges at Northern Virginia Daily reports that Denver E.
Quinnelly, managing member of Russell 150 LC, signed a Chapter 11
petition for Russell 150 a day before its scheduled sale at an
auction.

According to the report, a judge in Frederick County Circuit Court
scheduled a sale of the property for Thursday, the proceeds from
which would go toward settling mechanics liens on the site.

The report relates that Russell 150 owes a total of $2,020,209
to its top 20 creditors.  The entity owes $1.19 million to Perry
Engineering Co. Inc.; $366,063 to Morlyn LLC and $262,815 to
Greensway Engineering, all of Winchester.  Russell 150 owes money
to other companies and law firms.  Russell 150 also owes an
unknown amount in real estate taxes to the Frederick County
treasurer's office and a loan to Springfield Financial.

Earlier this year the treasurer's office set Russell 150's total
liability at $3.7 million, notes Mr. Bridges.


RUSSELL 150: Case Summary & 14 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Russell 150, LC
        446 Fromans Road
        Winchester, VA 22602

Bankruptcy Case No.: 11-51041

Chapter 11 Petition Date: July 20, 2011

Court: United States Bankruptcy Court
       Western District of Virginia (Harrisonburg)

Judge: Ross W. Krumm

Debtor's Counsel: Benjamin Webb King, Esq.
                  WOODS ROGERS HAZLEGROVE
                  P.O. Box 14125
                  Roanoke, VA 24038
                  Tel: (540) 983-7586
                  E-mail: wking@woodsrogers.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/vawb11-51041.pdf

The petition was signed by Denver E. Quinnelly, managing member.


RW LOUISVILLE: US Trustee Appoints Deborah Simon as Examiner
------------------------------------------------------------
The Hon. Thomas H. Fulton of the U.S. Bankruptcy Court for the
Western District of Kentucky authorized United States trustee
Daniel M. McDermott to appoint United States trustee Deborah B.
Simon as examiner for RW Louisville Hotel Associates LLC.

According to the Trustee McDermott, Deborah Simon has no
disqualifying connections with the debtor, creditors, or any
other parties in interest.  On June 23, 2011, Trustee McDermott
appointed Deborah Simon to serve as examiner after consulting
with the debtor and Wells Fargo Bank, National Association.

                      About RW Louisville

Louisville, Kentucky-based RW Louisville Hotel Associates, LLC,
aka Holiday Inn Hurstbourne, owns a hotel property located at 1325
South Hurstbourne Parkway, Louisville, Kentucky 40222.  It is an
independent franchisee of InterContinental Hotels Group and
operates a 271-room full-service Holiday Inn on the Real Property
and employs approximately 110 employees.

RW Louisville filed for Chapter 11 protection (Bankr. W.D. Ky.
Case No. 10-35356) on Oct. 8, 2010.  Emily Pagorski, Esq., and
Lea Pauley Goff, Esq., J. Kent Durning, Esq., James S. Goldberg,
Esq., Lea Pauley Goff, Esq., and Matthew R. Lindblom, Esq., at
Stoll Keenon Ogden PLLC, in Louisville, Ky., assist RW Louisville
in its restructuring effort.  RW Louisville estimated
its assets and debts at $10 million to $50 million at the Petition
Date.


SAINT VINCENTS: Iron Mountain Challenges Transfer of Docs Storage
-----------------------------------------------------------------
Barbara Benson, writing for Crain's New York Business, reports
that at Saint Vincent Catholic Medical Centers, the bankruptcy
court judge has been asked to step in to referee over which vendor
will deal with the stack of medical and business records left
behind when the system shut many of its facilities and put others
up for sale.

St. Vincent's currently contracts with Iron Mountain to store
material in 245,000 cubic feet of boxes and 1.2 million files in
open-shelf storage.  To date, it has paid Iron Mountain, a
document storage and handling company, $890,000 for storage
services.

According to Crain's, St. Vincent's wants to award a contract for
long-term retention and continued access to medical and business
records to a new company, MetalQuest.  The proposed $3.1 million
contract for MetalQuest would allow St. Vincent's to consolidate
all documents with one vendor.

Crain's relates Iron Mountain, however, wants to charge St.
Vincent's $6.5 million to transfer the records to MetalQuest.  In
court papers, Iron Mountain says the process should take three to
four years to complete and will cost $1 for each file and $1.21
for each cubic foot of boxed storage.

According to Crain's, St. Vincent's said the "the amount demanded
by Iron Mountain . . . is outlandish."  St. Vincent's disputes
that the removal of records will take anywhere near that long and
suggests it is in Iron Mountain's interest to drag out the process
so that it can collect more storage fees.

Crain's says a hearing was held last week on the issue.

                      About Saint Vincents

Saint Vincents Catholic Medical Centers of New York, doing
business as St. Vincent Catholic Medical Centers --
http://www.svcmc.org/-- was anchored by St. Vincent's Hospital
Manhattan, an academic medical center located in Greenwich Village
and the only emergency room on the Westside of Manhattan from
Midtown to Tribeca, St. Vincent's Westchester, a behavioral health
hospital in Westchester County, and continuing care services that
include two skilled nursing facilities in Brooklyn, another on
Staten Island, a hospice, and a home health agency serving the
Metropolitan New York area.

Saint Vincent Catholic Medical Centers of New York and six of its
affiliates first filed for Chapter 11 protection (Bankr. S.D.N.Y.
Case Nos. 05-14945 through 05-14951) on July 5, 2005.

St. Vincents Catholic Medical Centers returned to bankruptcy court
by filing another Chapter 11 petition (Bankr. S.D.N.Y. Case No.
10-11963) on April 14, 2010.  The Debtor estimated assets of $348
million against debts totaling $1.09 billion in the new petition.

Although the hospitals emerged from the prior reorganization in
July 2007 with a Chapter 11 plan said to have "a realistic chance"
of paying all creditors in full, the bankruptcy left the medical
center with more than $1 billion in debt.  The new filing occurred
after a $64 million operating loss in 2009 and the last potential
buyer terminated discussions for taking over the flagship
hospital.

Adam C. Rogoff, Esq., and Kenneth H. Eckstein, Esq., at Kramer
Levin Naftalis & Frankel LLP, represent the Debtor in its
Chapter 11 effort.


SARATOGA RESOURCES: Begins Trading on the NYSE Amex
---------------------------------------------------
Saratoga Resources has began trading on the NYSE Amex under the
trading symbol 'SARA'.

Saratoga also sent the following letter updating its shareholders
on recent developments:

"Dear Shareholder:

Since we last communicated with our shareholders in mid-2010,
Saratoga has experienced a number of significant and exciting
developments and we wanted to take the opportunity to speak
directly to you, our shareholders, regarding where we are, where
we have come from and where we are going as a company.

Looking back, in May 2010 we exited bankruptcy, with almost
unparalleled results, having preserved 100% of the interests of
our equity holders, paid our creditors 100 cents on the dollar and
extended the maturity on our then existing credit facilities to
April 2012.

Since that time, we have achieved a number of significant
milestones that have positioned Saratoga for what we believe is an
exciting future.  Among the accomplishments of the last year, we
have:

-- Refinanced all of our prior debt facilities, and reduced our
   total debt, with the July 2012 issuance of $127.5 million of
   five year senior secured notes;

-- Raised over $35 million in new equity;

-- Canceled warrants held by our prior lender to purchase 2
   million shares at $0.01 per share;

-- Listed our common stock on the NYSE Amex;

-- Strengthened our balance sheet, including increasing cash by
   400%;

-- Improved operating performance, including improving operating
   efficiency and achieving profitability; and

-- Increased our development budget and accelerated our
   development operations.

                    NYSE Amex Listing

Commencing July 20, 2011, our common stock is listed on the NYSE
Amex under the symbol SARA.

We are particularly excited by our listing on the NYSE Amex which
we expect to increase our liquidity and market exposure. Please be
sure to look for our stock under our new symbol "SARA."

                           Financing

From April to July 2011, we completed three financing transactions
that have substantially strengthened our balance sheet and our
cash position while reducing our total debt.  As a result of those
financings, we have secured funding to support our development
program while retiring $135.3 million of debt owed to Wayzata and
the resulting cancellation of a warrant in favor of Wayzata to
acquire 2 million shares of our common stock at $0.01 per share
while also retiring $10.2 million of letter of credit obligations.

Gross proceeds realized from our recent financings totaled
approximately $160 million consisting of:

-- $127.5 million of 12.5% senior secured notes due 2016;

-- $7.4 million of equity, comprised of 2,481,316 shares of common
   stock at $3.00 per share together with warrants to purchase an
   aggregate of 1,240,658 shares of common stock at $5.00 per
   share (closed in April 2011 when stock price was approximately
   $2.60); and

-- $28.3 million of equity, comprised of 5,650,000 shares of
   common stock at $5.00 per share.

Our debt and equity offerings were placed with leading
institutional investors in the U.S. and in Europe with funds
managed by Blackstone Group's BX +2.71%  affiliate GSO Capital
Partners acting as lead investors in both the equity and debt
offerings, accounting for $75 million of the senior note offering
and $20 million of the $5.00 common stock offering.

Development Program

We have also had a successful start to our 2011 development
program with 6 recompletions, 1 workover and multiple
infrastructure projects as follows:

-- Successful workover of the QQ #193 well at Grand Bay;

-- Two recompletions at Main Pass Field, 16432 #10 and #11;

-- Installation of replacement compressor at Main Pass Field to
   support higher production rate from #2, #10 and #11 wells
   through increased compression for gas lift;

-- Successful recompletions in DP #9, LP #6 and QQ #168 wells at
   Grand Bay;

-- Pressure tested 8-mile 4" HP pipeline to re-direct production
   from wells close to Breton Sound 51 Field to Breton Sound 32;
   and

-- Ongoing expansion of Breton Sound 32 facility with increased
   compression.

We have taken delivery of a rig to drill our Catina well in Breton
Sound 51.  The well is expected to spud on or about July 20, 2011
with drilling operations anticipated to last approximately 14 days
and completion operations anticipated to last approximately 14
additional days.  Production will be directed back to our Main
Pass 46 facility.  We then expect to drill our Rio Grande
prospect, which will be a similar well in terms of time and cost
to Catina. Later this year we hope to drill North Tiger at Breton
Sound 18 Field, MP47 QQ #15 Updip and the 3763 #16 well at
Vermilion 16 Field.

                         Reserves

At year end 2010, our proved reserves of 18 MMBOE and total
reserves of 29 MMBOE had a PV10 value of >$400 million and >$1,250
million respectively, using YE 2010 NYMEX strip pricing.  Our 2011
development program has already added close to $20 million in PV10
value to our PDP reserves.  Additionally, our full field studies
show exciting potential in both undeveloped shallow (<3,000 feet)
formations as well as several deep (>15,000 feet) structures that
potentially hold up to 5.8 TCF and 600 MMBO of hydrocarbons.  Our
deep prospects are lookalike structures to recent high profile
discoveries of McMoran.  Development of our deep prospects is
expected to be undertaken in joint venture arrangements with
industry partners.

Current production is 70% weighted towards oil that trades at a
15-20% premium to WTI and at a premium to pricing reflected in our
year end reserves.

In conclusion, we are excited about what we have accomplished over
the last year and about the company's outlook going forward.

We look forward to reporting back to you as we continue to grow
our company and remind you to follow us under our new NYSE Amex
trading symbol "SARA."

Sincerely,

Andy C. Clifford

President"

                    About Saratoga Resources

Saratoga Resources, Inc. -- http://www.saratogaresources.net/--
is an independent exploration and production company with offices
in Houston, Texas, and Covington, Louisiana with 30 full-time
employees, supplemented by field-based contract operations
personnel.  Principal holdings cover 33,625 gross (32,527 net)
acres, mostly held-by-production, located in the state waters
offshore Louisiana.  Saratoga's stock currently trades on the OTC
Bulletin Board under the symbol "SROE".

Saratoga Resources, Inc., and certain operating subsidiaries filed
on March 31, 2009, voluntary Chapter 11 petitions in the U.S.
Bankruptcy Court for the Western District of Louisiana in
Lafayette, Louisiana.  Saratoga is being advised by its legal
counsel, Adams & Reese LLP; its investment banker, Pritchard
Capital Partners LLC; and its financial advisor, Ambrose
Consulting LLC.

The case is In Re Harvest Oil and Gas, LLC (Bankr. W.D. La. Lead
Case No. 09-50397).  Robin B. Cheatham, Esq., at Adams & Reese
LLP, represented the Debtors in their restructuring effort.  The
Debtors each estimated between $100 million and $500 million in
assets and debts in their Chapter 11 petitions.

On April 19, 2010, the U.S. Bankruptcy Court entered an order
confirming the Modified Third Amended Plan and, on May 14, 2010,
the Company satisfied all of the conditions set forth in the
Modified Third Amended Plan of Reorganization, the Modified Third
Amended Plan became effective and the Company exited from
bankruptcy.


SCORPION PERFORMANCE: RBSM LLP Raises Going Concern Doubt
---------------------------------------------------------
Scorpion Performance, Inc., filed on July 22, 2011, its annual
report for the fiscal year ended Dec. 31, 2010.

RBSM LLP, in New York, expressed substantial doubt about Scorpion
Performance's ability to continue as a going concern.  The
independent auditors noted that the Company has incurred a
significant loss from operations for the year ended Dec. 31, 2010,
and has significant accumulated deficit.

The Company reported a net loss of $3.28 million on $4.23 million
of revenues for 2010, compared with a net loss of $1.88 million on
$2.72 million of revenues for 2009.

The Company's balance sheet at Dec. 31, 2010, showed
$10.62 million in total assets, $6.09 million in total
liabilities, and stockholders' equity of $4.53 million.

A copy of the Form 10-K is available at http://is.gd/nzAG1K

Fort Lauderdale, Florida-based Scorpion Performance, Inc., is a
full service designer and manufacturer of branded and private
label high performance automotive parts and components using a
wide range of precision and robotic manufacturing technologies to
produce a variety of branded and private label high performance
automotive products and related components to automotive original
equipment manufacturers, or OEMs, and the related aftermarket.  It
also provides in-house anodizing services to produce high-end
finished products for a variety of uses in the automotive as well
as medical and photographic imaging industries.


SEDA FRANCE: Court Tosses Unsecured Creditor's Bid for Legal Fees
-----------------------------------------------------------------
The Bankruptcy Court in the Seda France Inc. case is presented
with the issue of whether an unsecured creditor is entitled to
attorneys' fees under a confirmed Chapter 11 plan that pays
creditors in full.  Citing In re Elec. Mach. Enterprises, Inc.,
371 B.R. 549, 549-50 (Bankr. M.D. Fla. 2007), Bankruptcy Judge
Craig A. Gargotta noted that the majority of courts that have
considered the issue have held that an unsecured creditor is not
entitled to collect post-petition attorneys' fees, costs, and
other similar charges -- even if there is an underlying
contractual right to do so.  Aegis Texas Venture Fund II, LP seeks
to recover attorneys' fees and costs incurred post-petition as
part of its unsecured claim against Seda France.  In keeping with
the majority view, Judge Gargotta sustained the Debtor's objection
to Aegis' claim for attorneys' fees.  A copy of Judge Gargotta's
July 22, 2011 Memorandum Opinion is available at
http://is.gd/mhvVdUfrom Leagle.com.

Based in Austin, Texas, Seda France Inc. filed for Chapter 11
bankruptcy protection on Oct. 18, 2010 (Bankr. W.D. Tex. Case No.
10-12948).  Judge Craig A. Gargotta presides over the case.  Kell
C. Mercer, Esq., at Brown, McCarrol, LLP, represents the Debtor.
The Debtor estimated assets and debts between $1 million and
$10 million in the Chapter 11 petition.


SHERMARK INVESTMENTS: Case Summary & Creditors List
---------------------------------------------------
Debtor: Shermark Investments LLC
        7426 Alamo Summit Drive
        Las Vegas, NV 89129
        Tel: (702) 523-4799

Bankruptcy Case No.: 11-52062

Chapter 11 Petition Date: July 21, 2011

Court: U.S. Bankruptcy Court
       Eastern District of Kentucky (Lexington)

Debtor's Counsel: Heather M. McKeever, Esq.
                  3250 Delong Road
                  Lexington, KY 40515
                  Tel: (859) 552-7388
                  E-mail: foreclosurefraud@insightbb.com

Scheduled Assets: $3,903,505

Scheduled Debts: $5,985,523

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/kyeb11-52062.pdf

The petition was signed by Mark B. Moody, managing member.


SST VENTURES: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: SST Ventures, Ltd.
        20550 Townsen Blvd. Bldg 1, Suite 101
        Humble, TX 77338

Bankruptcy Case No.: 11-36246

Chapter 11 Petition Date: July 23, 2011

Court: United States Bankruptcy Court
       Southern District of Texas (Houston)

Judge: Marvin Isgur

Debtor's Counsel: Dean W. Ferguson, Esq.
                  LAW OFFICE OF DEAN FERGUSON
                  4715 Breezy Point Drive
                  Kingwood, TX 77345
                  Tel: (281) 361-9103
                  E-mail: dwferg2003dm@yahoo.com

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

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

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

The petition was signed by Don Schneider, president.

Affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Waterford Freebird, LLC                10-44114   12/06/10
Don Schneider Material Co.             11-33963   05/02/11


STELLAR GT: U.S. Trustee Wants Case Converted or Dismissed
----------------------------------------------------------
W. Clarkson McDow Jr., the United States Trustee for Region 4,
asks the U.S. Bankruptcy Court for the District of Maryland to
dismiss the Chapter 11 cases of Stellar GT Tic LLC and VFF Tic LLC
or convert the cases to Chapter 7 liquidation proceedings.

The U.S. Trustee tells the Court that the Debtors have the same
two secured creditors: (1) Wells Fargo Bank, N.A., which is owed
more than $207 million; and (2) General Electric Company, which
has a mechanic's lien that the Debtors dispute and claim is
"undetermined."  The Debtors have filed these bankruptcy cases
to sell the Georgian for the sole and exclusive benefit of its
secured creditors.  As there are no unsecured creditors, these
bankruptcy cases could not have been filed to protect the rights
of, or for the benefit of, unsecured creditors, note the trustee.

According to the U.S. Trustee, the Debtors have no intent of
reorganizing, and both will be dissolved after the bankruptcy.
The Georgian will be sold to a third party or to Wells Fargo.  If
Wells Fargo has the winning credit bid, then Stellar's interest
in the Georgian will be transferred to VFF, and VFF's 100%
interest in the Georgian will be transferred to a new entity
called FCP Fund 1 Trust.  The plan provides no information about
FCP Fund 1 Trust, the U.S. Trustee points out.

                 About Stellar GT TIC and VFF TIC

Stellar GT TIC LLC and VFF TIC LLC, owners of the Georgian
apartments located at 8750 Georgia Avenue in Silver Spring,
Maryland, filed for Chapter 11 bankruptcy protection (Bankr. D.
Md. Case Nos. 11-22977 and 11-22980) on June 22, 2011.  Judge
Wendelin I. Lipp oversees the case.  Michelle Maloney-Raymond is
the case administrator.  Matthew G. Summers, Esq., at Ballard
Spahr LLP, serves as the Debtors' counsel.

The Debtors negotiated a plan of reorganization before filing for
Chapter 11.  The proposed plan is premised on either (1) a sale of
the project pursuant to an auction process or (2) a consensual
restructuring of the secured debt.  Broker CB Richard Ellis Inc.
has been hired to conduct the sale.

The auction rules provide that a first-round sealed bid would be
required to be submitted by Aug. 24.  The broker would then have
until Sept. 5 to negotiate with the first-round bidders.  Second-
round sealed bids would be due Sept. 5.  The highest second-round
bid would be identified by Sept. 12, 2011.  The highest bid would
be submitted for approval at the confirmation hearing in October.

Wells Fargo, the holder of a $207.6 million secured debt, can bid
at the auction.  The Lender is represented by Mark Taylor, Esq.,
at Kilpatrick Townsend & Stockton LLP, and Jantra Van Roy, Esq.,
at Zeichner Ellman & Krause LLP.


SUNRISE OBX: Case Summary & 2 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Sunrise OBX, LLC
        30 Bellona Arsenal Rd.
        Midlothian, VA 23113

Bankruptcy Case No.: 11-34676

Chapter 11 Petition Date: July 20, 2011

Court: United States Bankruptcy Court
       Eastern District of Virginia (Richmond)

Judge: Kevin R. Huennekens

Debtor's Counsel: Ronald Allen Page, Jr., Esq.
                  RONALD PAGE, PLC
                  4860 Cox Road, Suite #200
                  Glen Allen, VA 23060
                  Tel: (804) 562-8704
                  Fax: (804) 482-2427
                  E-mail: rpage@rpagelaw.com

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

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

A list of the Company's two largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/vaeb11-34676.pdf

The petition was signed by Leroy L. Anderson, III, manager.


SW BOSTON: Can Access Cash Collateral Until Sept. 30
----------------------------------------------------
The U.S. Bankruptcy Court for the District of Massachusetts
entered, on July 1, 2011, its second interim order authorizing SW
Boston Hotel Venture LLC, et al., to use cash collateral securing
the obligations to the lenders having an interest in the cash
collateral, until Sept. 30, 2011.

This authorization to use cash collateral will be upon the same
terms and conditions of the Cash Collateral Order dated Nov. 17,
2010, approving the use of cash collateral through June 30, 2011.

A status hearing to consider the Debtors' use of the cash
collateral will be held on Aug. 16, 2011, at 9:30 a.m.

                      About SW Boston Hotel

Boston, Massachusetts-based SW Boston Hotel Venture LLC is the
developer of the W Hotel in Boston.  The Company filed for Chapter
11 bankruptcy protection (Bankr. D. Mass. Case No. 10-14535) on
April 28, 2010.  Harold B. Murphy, Esq., and Natalie B. Sawyer,
Esq., at Hanify & King, P.C., is the Debtors' bankruptcy counsel.
Edwards Angell Palmer & Dodge LLP is the Company's special
counsel.  The Company estimated its assets and debts at
$100 million to $500 million.


SW BOSTON: Post-Trial Briefs on Rival Plans Due Aug. 1
------------------------------------------------------
Post-trial briefs relating to the rival plans of reorganization
filed in the Chapter 11 cases of SW Boston Hotel Venture LLC and
Oliver Street Corporation are due August 1, 2011.

As reported in the July 15, 2011 edition of the Troubled Company
Reporter, The Prudential Insurance Company of America on behalf
and solely for the benefit of its Insurance Company Separate
Account, PRISA, filed a plan of reorganization providing for
reinstatement of the Debtors' secured debt on the same or similar
terms and payment in full to the holders of all Allowed, non-
Insider, non-affiliate Unsecured Claims from the income generated
by the Debtors' operations, liquidation of the Affiliate Debtors
assets and the Prudential Cash Contribution.

Under Prudential Insurances' plan, all claim holders will be paid
in full.  Holders of Prudential Loan claims are expected to
receive new Prudential note and 100% of the equity interests in
reorganized Debtors.

As reported in the May 26, 2011 edition of the Troubled Company
Reporter, the Debtors' Plan provides for the payment in full to
the holders of all Allowed, non-Insider Claims from the income
generated by the Debtors' operations and the sale of certain of
the Debtors' assets.  On March 28, 2011, SW Boston filed a motion
to sell the hotel condominium and the parking condominium to a
subsidiary of Pebblebrook Hotel Trust for a purchase price of
$89.5 million.  The net proceeds of the Hotel Sale will be paid to
Prudential and will substantially reduce Prudential's claim.  The
Residences will be retained by SW Boston and sold in the ordinary
course of business with the proceeds paid to creditors in
accordance with the Plan.

                      About SW Boston Hotel

Boston, Massachusetts-based SW Boston Hotel Venture LLC is the
developer of the W Hotel in Boston.  The Company filed for Chapter
11 bankruptcy protection (Bankr. D. Mass. Case No. 10-14535) on
April 28, 2010.  Harold B. Murphy, Esq., and Natalie B. Sawyer,
Esq., at Hanify & King, P.C., is the Debtors' bankruptcy counsel.
Edwards Angell Palmer & Dodge LLP is the Company's special
counsel.  The Company estimated its assets and debts at
$100 million to $500 million.


THINK3 INC: Has Final Financing Approval for $1 Million
-------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports Think3 Inc. received final approval last week to borrow
$1.05 million from Gensym Cayman LP.

                      About think3 Inc.

think3 Inc. is engaged in the business of computer software
creation, licensing, sales and support. Its products include
Computer Aided Design and Product Lifecycle Management.  think3,
Inc. develops and sells the think3 products exclusively for the
China market. The think3 product portfolio -- which includes
ThinkDesign, ThinkPLM, and ThinkDesign PLM -- are developed and
sold in the US, Europe, and other markets in Asia by Versata.

think3 Inc. filed a Chapter 11 petition (Bankr. W.D. Tex. Case No.
11-11252) on May 18, 2011.  Charles A. Beckham, Jr., Esq., and E.
Brooks Hamilton, Esq., at Haynes and Boone, LLP, in Houston,
Texas, serve as counsel to the Debtor.  AP Services, LLC, serves
as the Debtor's crisis managers.  The Debtor estimated assets and
debts of $1 million to $10 million.

Think3 sought Chapter 11 protection after the company's Italian
subsidiary was put into bankruptcy and disputes arose over the
ownership of assets.  Think3 was acquired in September 2010 by ESW
Capital LLC.  The primary debt is a $23 million tax liability in
Italy.


T&J RESTAURANTS: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: T&J Restaurants LLC
        940 Hemsath Road
        Saint Charles, MO 63303

Bankruptcy Case No.: 11-31622

Chapter 11 Petition Date: July 21, 2011

Court: U.S. Bankruptcy Court
       Southern District of Illinois (East St Louis)

Judge: Laura K. Grandy

Debtor's Counsel: Robert E. Eggmann, Esq.
                  LATHROP AND GAGE
                  7701 Forsyth Boulevard, Suite 400
                  Clayton, MO 63105
                  Tel: (314) 613-2800
                  Fax: (314) 613-2801
                  E-mail: reggmann@lathropgage.com

                         - and -

                  Thomas Riske, Esq.
                  LATHROP AND GAGE LLP
                  7701 Forsyth Boulevard, Suite 400
                  Clayton, MO 63105
                  Tel: (314)613-2800
                  Fax: (314)613-2801
                  E-mail: triske@lathropgage.com

Scheduled Assets: $2,806,956

Scheduled Debts: $7,716,237

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/ilsb11-31622.pdf

The petition was signed by John H. Whicker, managing member.


TANT CONSTRUCTION: Case Summary & 8 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Tant Construction, LLC
        5621 12th Avenue East
        Tuscaloosa, AL 35405

Bankruptcy Case No.: 11-71500

Chapter 11 Petition Date: July 22, 2011

Court: U.S. Bankruptcy Court
       Northern District of Alabama (Tuscaloosa)

Debtor's Counsel: Glen F. Harvey, Esq.
                  LEWIS, SMYTH & WINTER, PC
                  P.O. Box 020114
                  Tuscaloosa, AL 35402
                  Tel: (205) 553-5353
                  E-mail: gfh@lswattorneys.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/alnb11-71500.pdf

The petition was signed by Molly Tant, manager.

Affiliates that simultaneously sought Chapter 11 protection:

        Debtor                        Case No.
        ------                        --------
TANT CONSTRUCTION, INC.               11-71501
TANT REAL ESTATE, LLC                 11-71502


TAMARACK RESORT: Founder Seeks to Join in Suit v. Credit Suisse
---------------------------------------------------------------
Timothy L. Blixseth and Alfredo Miguel seek to intervene in a
group lawsuit against Credit Suisse Group AG in U.S. federal court
in Boise, Idaho.

Mr. Miguel is founder of Tamarack Resort, LLC, and was its
chairman of the board of directors.  Mr. Blixseth was the founder
of the Yellowstone Club and, through his holdings companies, was
the manager and developer of the Club until August 2008.

Papers filed Friday state that, through their ownership and
management interests in their respective developments, Messrs.
Blixseth and Miguel were defrauded by the Defendants in much the
same way that the existing plaintiffs were defrauded.  Credit
Suisse through its loans to the Yellowstone Club and Tamarack, and
Cushman & Wakefield through its inflated appraisals of the
resorts, created a "parade of horribles" for Messrs. Blixseth and
Miguel and the existing plaintiffs, court papers say.  The damages
suffered by Messrs. Blixseth and Miguel and the plaintiffs all
stem from substantially the same facts involving Credit Suisse's
loans to the Yellowstone Club, Tamarack, Lake Las Vegas and Ginn
Sur Merr.  Because of the similarity in both law and fact between
Messrs. Blixseth and Miguel's claims and the existing claims of
the plaintiffs, Messrs. Blixseth and Miguel contend that the Court
should grant their Motion allowing them to intervene under Federal
Rule of Civil Procedure 24.

The lawsuit was originally filed in January 2010 and seeks at
least $2.5 billion from the Defendants.

Messrs. Blixseth and Miguel are represented by:

          Andrew E. Hawes, Esq.
          5183 P.O. Box 2153
          Boise, ID 83701
          Tel: (503) 501-7190
          E-mail: andyhawes@hotmail.com

The case is L.J. Gibson, et al., v. Credit Suisse AG, a Swiss
corporation, et al., Case No. 1:10-cv-00001 (D. Idaho).

A copy of Messrs. Blixseth and Miguel's MEMORANDUM OF POINTS AND
AUTHORITIES IN SUPPORT OF MOTION TO INTERVENE AS PLAINTIFFS AND TO
FILE COMPLAINT IN INTERVENTION PURSUANT TO FEDERAL RULE OF CIVIL
PROCEDURE 24(a)(2) and (b)(1)(B), filed July 22, is available at
http://bankrupt.com/misc/Brief.pdf

                       About Tamarack Resort

Tamarack Resort LLC, a golf and ski resort in Valley County,
Idaho, was sent to Chapter 7 after creditors submitted an
involuntary petition (Bankr. D. Idaho Case No. 09-03911).  The
petitioning creditors include an affiliate of Bank of America
Corp. owed $4.7 million.

On April 9, 2010, Bankruptcy Judge Terry Myers signed an order
converting Tamarack Resort LLC's involuntary chapter 7 case to a
chapter 11 reorganization.

The project's 27.5% owner, VPG Investments Inc., filed for Chapter
11 reorganization in 2008, only to have the petition dismissed in
October 2008 at the request of the secured creditor, Credit
Suisse, Caymans Islands Branch.  VPG was controlled by Mexican
businessman Alfredo Miguel Afif.  Credit Suisse, the agent for the
secured lenders, characterized VPG's Chapter 11 case as "a classic
example of a bad faith filing" made "solely as a litigation
tactic" to stop foreclosure.

                        About Yellowstone Club

Located near Big Sky, Montana, Yellowstone Club --
http://www.theyellowstoneclub.com/-- is a private golf and ski
community with more than 350 members, including Bill Gates and Dan
Quayle.  The Company was founded in 1999.

Yellowstone Mountain Club LLC and its affiliates filed for Chapter
11 on Nov. 10, 2008 (Bankr. D. Mont. Case No. 08-61570).  The
Company's owner affiliate Edra D. Blixseth, filed for Chapter 11
on March 27, 2009 (Bankr. D. Mont. Case No. 09-60452).

In June 2009, the Bankruptcy Court entered an order confirming
Yellowstone's Chapter 11 Plan.  Pursuant to the Plan, CrossHarbor
Capital Partners, LLC, acquired equity ownership in the
reorganized club for $115 million.

Attorneys at Bullivant Houser Bailey PC and Bekkedahl & Green
PLLC, represented the Debtors.  The Debtors hired FTI Consulting
Inc. and Ronald Greenspan as CRO.  The official committee of
unsecured creditors were represented by Parsons, Behle and
Latimer, as counsel, and James H. Cossitt, Esq., at local counsel.
Credit Suisse, the prepetition first lien lender, was represented
by Skadden, Arps, Slate, Meagher & Flom.

The Court entered an order confirming The Yellowstone Club's
Chapter 11 Plan of Reorganization in June 2009.


T.E. WOODS: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: T.E. Woods Construction, Inc.
        790 SW US Highway 40 #316
        Blue Springs, MO 64015

Bankruptcy Case No.: 11-43407

Chapter 11 Petition Date: July 20, 2011

Court: United States Bankruptcy Court
       Western District of Missouri (Kansas City)

Judge: Arthur B. Federman

Debtor's Counsel: David L. Zeiler, Esq.
                  THE ZEILER LAW FIRM, L.C.
                  2012 NW South Outer Road
                  Blue Springs, MO 64015
                  Tel: (816) 988-7215
                  Fax: (877) 517-2615
                  E-mail: dzeiler@zeilerlawfirm.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/mowb11-43407.pdf

The petition was signed by Thomas E. Woods, president.


TOWERS CONDOMINIUM: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: The Towers Condominium Partners, Ltd.
        1800 Valley View Lane, Suite 150 LB4
        Dallas, TX 75234

Bankruptcy Case No.: 11-34638

Chapter 11 Petition Date: July 20, 2011

Court: United States Bankruptcy Court
       Northern District of Texas (Dallas)

Judge: Barbara J. Houser

Debtor's Counsel: Howard Marc Spector, Esq.
                  SPECTOR & JOHNSON, PLLC
                  12770 Coit Road
                  Banner Place, Suite 1100
                  Dallas, TX 75251
                  Tel: (214) 365-5377
                  Fax: (214) 237-3380
                  E-mail: hspector@spectorjohnson.com

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

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

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

The petition was signed by Tim Barton, managing member of Condo
Towers GP, LLC, Debtor's general partner.


TRANSWEST TUCSON: Creditor PIM Ashford Wants to File Ch. 11 Plan
----------------------------------------------------------------
PIM Ashford Subsidiary I, LLC, a secured, and the only creditor of
Transwest Tucson II, LLC, and Transwest Hilton Head II, LLC, asks
the U.S. Bankruptcy Court for the District Of Arizona, to
terminate for cause the exclusive periods in which the Debtors may
file and solicit acceptances for a plan of reorganization.

The exclusive periods are set to expire on Aug. 1, 2011, and
Oct. 1, respectively.

PIM Ashford wants to file a confirmable plan with respect to the
Mezzanine Debtors.  PIM Ashford, asserts that the Mezzanine
Debtors have failed to make any discernable progress in
formulating a plan.

PIM Ashword is represented by:

         LEWIS AND ROCA LLP
         Robert M. Charles, Jr., Esq.
         One S. Church Avenue, Suite 700
         Tucson, AR 85701-1611
         Tel: (520) 629-4427
         Fax: (520) 879-4705
         E-mail: RCharles@lrlaw.com

         HAYNES AND BOONE, LLP
         Lenard M. Parkins, Esq.
         1221 McKinney Street No. 2100
         Houston, TX 77010-2020
         Tel: (713) 547-2008
         Fax: (713) 236-5405
         E-mail: lenard.parkins@haynesboone.com

                     About Transwest Resort

Tucson, Arizona-based Transwest Resort Properties, Inc., filed for
Chapter 11 bankruptcy protection (Bankr. D. Ariz. Case No. 10-
37134) on Nov. 17, 2010.  Kasey C. Nye, Esq., and Elizabeth S.
Fella, Esq., at Quarles & Brady LLP, in Tucson, Ariz., assist the
Debtor in its restructuring effort.  The Debtor estimated its
assets at up to $50,000 and debts at $10 million to $50 million.

Affiliates Transwest Hilton Head Property, L.L.C. (Bankr. D. Ariz.
Case No. 10-37170), Transwest Tucson Property, L.L.C. (Bankr. D.
Ariz. Case No. 10-37160), Transwest Tucson II, L.L.C. (Bankr. D.
Ariz. Case No. 10-37151), and Transwest Hilton Head II, L.L.C.
(Bankr. D. Ariz. Case No. 10-37145) filed separate Chapter 11
petitions on Nov. 17, 2010.  BeachFleischman PC serves as tax
preparer and advisor, accountant and auditor.  Hundley & Company,
LLC, serves as financial restructuring and interest rate experts,
and Hospitality Real Estate Counselors as valuation consultant and
expert.  Transwest Hilton Head Property estimated assets at
$10 million to $50 million and debts at $100 million to
$500 million.  Transwest Tucson Property estimated assets at
$50 million to $100 million and debts at $100 million to
$500 million.

The U.S. Trustee appointed an Official Committee of Unsecured
Creditors on Dec. 15, 2010.


VITRO SAB: Chapter 15 Petition Granted by Judge in Dallas
---------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Vitro SAB won a round July 21 in the continuing
battle with bondholders that the bankruptcy judge in Dallas called
a "knock down, drag out," where "every matter filed by one party
is objected by the other."  The issue before the court was whether
the U.S. would recognize Vitro's Mexican reorganization as the
"foreign main proceeding."  In a four-page opinion, U.S.
Bankruptcy Judge Harlin DeWayne Hale came down on the side of
Vitro and granted the company's petition for protection under
Chapter 15 of the U.S. Bankruptcy Code.

The report relates that the dispute was over whether Vitro could
select the person to serve as the foreign representative in the
U.S. case.  Judge Hale said that six companies previously had
their Mexican bankruptcies recognized as the foreign main
proceeding.  He listed four where the Mexican company had Chapter
15 approval after selecting its own foreign representative.

Vitro, Mr. Rochelle relates, argued that Chapter 15 allows a
foreign company to be its own foreign representative, just as U.S.
companies retain control over their own operations as debtors-in-
possession.  Vitro said that Mexican law is the same in terms of
allowing companies to remain in the driver's seat during
bankruptcy.

The Chapter 15 petition was opposed by holders of some of the
$1.2 billion of bonds in default for more than two years.  The
bondholders said Judge Hale could rule later on whether to enforce
a Mexican reorganization plan in the U.S. if it was approved using
insider votes to cram down on bondholders opposed to the plan.

Vitro and the bondholders will clash again in bankruptcy court on
July 25.  The bondholders want the judge to declare that they are
free to attach assets of Vitro subsidiaries not in bankruptcy in
either the U.S. or Mexico.

Mr. Rochelle relates that the bankruptcy judge refused to put
several Vitro subsidiaries into bankruptcy involuntarily in the
U.S.  The bondholders want Judge Hale to declare that the so-
called automatic stay from the involuntary filings disappeared
when the petitions were denied.

                         About Vitro SAB

Headquartered in Monterrey, Mexico, Vitro, S.A.B. de C.V. (BMV:
VITROA; NYSE: VTO), through its two subsidiaries, Vitro Envases
Norteamerica, SA de C.V. and Vimexico, S.A. de C.V., is the
largest manufacturer of glass containers and flat glass in Mexico,
with consolidated net sales in 2009 of MXN23,991 million (US$1.837
billion).

Vitro defaulted on its debt in 2009 and sought to restructure
around US$1.5 billion in debt, including US$1.2 billion in notes.
Vitro launched an offer to buy back or swap US$1.2 billion in debt
from bondholders.  The tender offer would be consummated with a
bankruptcy filing in Mexico and Chapter 15 filing in the United
States.  Vitro said noteholders would recover as much as 73% by
exchanging existing debt for cash, new debt or convertible bonds.

            Concurso Mercantil & Chapter 15 Proceedings

Vitro SAB on Dec. 13, 2010, filed its voluntary petition for a
pre-packaged Concurso Plan in the Federal District Court for Civil
and Labor Matters for the State of Nuevo Leon, commencing its
voluntary concurso mercantil proceedings -- the Mexican equivalent
of a prepackaged Chapter 11 reorganization.  Vitro SAB also
commenced parallel proceedings under Chapter 15 of the U.S.
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 10-16619) in Manhattan
on Dec. 13, 2010, to seek U.S. recognition and deference to its
bankruptcy proceedings in Mexico.

Early in January 2011, the Mexican Court dismissed the Concurso
Mercantil proceedings.  The judge said Vitro couldn't push through
a plan to buy back or swap US$1.2 billion in debt from bondholders
based on the vote of US$1.9 billion of intercompany debt when
third-party creditors were opposed.  Vitro as a result dismissed
the first Chapter 15 petition following the ruling by the Mexican
court.

On April 12, 2011, an appellate court in Mexico reinstated the
reorganization.  Accordingly, Vitro SAB on April 14 re-filed a
petition for recognition of its Mexican reorganization in U.S.
Bankruptcy Court in Manhattan (Bankr. S.D.N.Y. Case No. 11-11754).

In the present Chapter 15 case, the Debtor seeks to block any
creditor suits in the U.S. pending the reorganization in Mexico.

On June 29, 2011, Vitro Packaging de Mexico S.A. de C.V. commenced
a voluntary judicial reorganization proceeding under the Ley de
Concursos Mercantiles before the Federal District Court for Civil
and Labor Matters for the State of Nuevo Leon, the United Mexican
States.  On June 30, 2011, Vitro Packaging filed a chapter 15
petition (Bankr. N.D. Tex. Case No. 11-34224).

Alejandro Francisco Sanchez-Mujica and Javier Arechavaleta Santos
serve as Foreign Representatives of Vitro S.A.B. de C.V. and Vitro
Packaging de Mexico S.A. de C.V.  The Foreign Representatives are
represented by David M. Bennett, Esq., Katharine E. Battaia, Esq.,
and Cassandra A. Sepanik, Esq., at Thompson & Knight LLP, and
Andrew M. Leblanc, Esq., Risa M. Rosenberg, Esq., Thomas J. Matz,
Esq., and Jeremy C. Hollembeak, Esq., at Milbank Tweed Hadley &
McCloy LLP.

Attorneys for the Ad Hoc Group of Vitro Noteholders are Jeff P.
Prostok, Esq., and Lynda L. Lankford, Esq., at Forshey & Prostok,
LLP, and Allan S. Brilliant, Esq., Benjamin E. Rosenberg, Esq.,
Craig P. Druehl, Esq., and Dennis H. Hranitzky, Esq., at Dechert
LLP.

                   Chapter 11 Proceedings

A group of noteholders, namely Knighthead Master Fund, L.P., Lord
Abbett Bond-Debenture Fund, Inc., Davidson Kempner Distressed
Opportunities Fund LP, and Brookville Horizons Fund, L.P., opposed
the exchange.  Together, they held US$75 million, or approximately
6% of the outstanding bond debt.  The Noteholder group commenced
involuntary bankruptcy cases under Chapter 11 of the U.S.
Bankruptcy Code against Vitro Asset Corp. (Bankr. N.D. Tex. Case
No. 10-47470) and 15 other affiliates on Nov. 17, 2010.

Vitro engaged Susman Godfrey, L.L.P. as U.S. special litigation
counsel to analyze the potential rights that Vitro may exercise in
the United States against the ad hoc group of dissident
bondholders and its advisors.

A larger group of noteholders known as the Ad Hoc Group of Vitro
Noteholders -- comprised of holders, or investment advisors to
holders, which represent approximately US$650 million of the
Senior Notes due 2012, 2013 and 2017 issued by Vitro -- was not
among the Chapter 11 petitioners, although the group has expressed
concerns over the exchange offer.  The group says the exchange
offer exposes Noteholders who consent to potential adverse
consequences that have not been disclosed by Vitro.  The group is
represented by John Cunningham, Esq., and Richard Kebrdle, Esq. at
White & Case LLP.

The U.S. affiliates subject to the involuntary petitions are Vitro
Chemicals, Fibers & Mining, LLC (Bankr. N.D. Tex. Case No. 10-
47472); Vitro America, LLC (Bankr. N.D. Tex. Case No. 10-47473);
Troper Services, Inc. (Bankr. N.D. Tex. Case No. 10-47474); Super
Sky Products, Inc. (Bankr. N.D. Tex. Case No. 10-47475); Super Sky
International, Inc. (Bankr. N.D. Tex. Case No. 10-47476); VVP
Holdings, LLC (Bankr. N.D. Tex. Case No. 10-47477); Amsilco
Holdings, Inc. (Bankr. N.D. Tex. Case No. 10-47478); B.B.O.
Holdings, Inc. (Bankr. N.D. Tex. Case No. 10-47479); Binswanger
Glass Company (Bankr. N.D. Tex. Case No. 10-47480); Crisa
Corporation (Bankr. N.D. Tex. Case No. 10-47481); VVP Finance
Corporation (Bankr. N.D. Tex. Case No. 10-47482); VVP Auto Glass,
Inc. (Bankr. N.D. Tex. Case No. 10-47483); V-MX Holdings, LLC
(Bankr. N.D. Tex. Case No. 10-47484); and Vitro Packaging, LLC
(Bankr. N.D. Tex. Case No. 10-47485).

A bankruptcy judge in Fort Worth, Texas, denied involuntary
Chapter 11 petitions filed against four U.S. subsidiaries.  On
April 6, 2011, Vitro SAB agreed to put Vitro units -- Vitro
America LLC and three other U.S. subsidiaries -- that were subject
to the involuntary petitions into voluntary Chapter 11.  The Texas
Court on April 21 denied involuntary petitions against the eight
U.S. subsidiaries that didn't consent to being in Chapter 11.

Kurtzman Carson Consultants is the claims and notice agent to
Vitro America, et al.  Alvarez & Marsal North America LLC is the
Debtors' operations and financial advisor.

The official committee of unsecured creditors appointed in the
Chapter 11 cases of Vitro America, et al., has selected Sarah Link
Schultz, Esq., at Akin Gump Strauss Hauer & Feld LLP, in Dallas,
Texas, and Michael S. Stamer, Esq., Abid Qureshi, Esq., and Alexis
Freeman, Esq., at Akin Gump Strauss Hauer & Feld LLP, in New York,
as counsel.


WARNER MUSIC: European Commission Clears Merger with Airplanes
--------------------------------------------------------------
The European Commission, on July 7, 2011, cleared the merger
contemplated by the Agreement and Plan of Merger, dated as of
May 6, 2011, by and among Warner Music Group Corp., Airplanes
Music LLC,, and Airplanes Merger Sub, Inc.

                     About Warner Music Group

Based in New York, Warner Music Group Corp. (NYSE: WMG)
-- http://www.wmg.com/-- was formed by a private equity
consortium of investors on Nov. 21, 2003.  The Company is the
direct parent of WMG Holdings Corp., which is the direct parent of
WMG Acquisition Corp.  WMG Acquisition Corp. is one of the world's
major music-based content companies and the successor to
substantially all of the interests of the recorded music and music
publishing businesses of Time Warner Inc.

The Company classifies its business interests into two fundamental
operations: Recorded Music and Music Publishing.  The Company's
Recorded Music business primarily consists of the discovery and
development of artists and the related marketing, distribution and
licensing of recorded music produced by such artists.  The
Company's Music Publishing operations include Warner/Chappell, its
global Music Publishing company, headquartered in New York with
operations in over 50 countries through various subsidiaries,
affiliates and non-affiliated licensees.

Warner Music reported a net loss of $39 million on $682 million of
revenue for the three months ended March 31, 2011, compared with a
net loss of $28 million on $666 million of revenue for the same
period during the prior year.  The Company also reported a net
loss of $57 million on $1.47 billion of revenue for the six months
ended March 31, 2011, compared with a net loss of $44 million on
$1.58 billion of revenue for the same period during the prior
year.

The Company's balance sheet at March 31, 2011, showed
$3.61 billion in total assets, $3.87 billion in total liabilities
and a $254 million in total deficit.

                          *     *     *

In May 2011, Warner Music Group Corp. and Access Industries, the
U.S.-based industrial group, announced the execution of a
definitive merger agreement under which Access Industries will
acquire WMG in an all-cash transaction valued at $3.3 billion.
The purchase includes WMG's entire recorded music and music
publishing businesses.


WASHINGTON MUTUAL: Equity Committee Wants Plan Confirmation Denied
------------------------------------------------------------------
The Official Committee of Equity Security Holders in the
Chapter 11 cases of Washington Mutual, Inc., et al., asks the U.S.
Bankruptcy Court for the District of Delaware to deny confirmation
of the Debtors' Modified Sixth Amended Plan of Reorganization
because:

   1. the supposed reorganization is a sham to preserve the
   Debtors' control.

   2. the Debtors ignored claims against WMI's directors and
   officers; and

   3. the Debtors favored certain powerful creditors and
   disregarded obligations to equity and other constituents.

According the Committee, the Debtors seek confirmation of a Plan
that was developed through a profoundly flawed process that
favored a small group of powerful creditors over the interests of
other constituents, particularly WMI's equity holders.  The
Debtors bent over backward to assist major hedge fund investors
while brushing aside any interest that even threatened to raise a
competing claim on the Debtors' estate.

From the onset, the Debtors allowed the settlement note holders to
dominate the negotiations with JP Morgan Chase Bank, N.A.

                        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: Committee To Tap Schiff Hardin as Counsel
------------------------------------------------------------
The Official Committee of Unsecured Creditors appointed in the
Chapter 11 case of Waterscape Resort LLC seeks authority from the
U.S. Bankruptcy Court for the Southern District of New York to
retain Schiff Hardin LLP, as its counsel, nunc pro tunc to
June 17, 2011.

The professional services that the Committee expects Schiff
to render include:

   (a) providing legal advice with respect to the Committee's
       rights, powers and duties in this case;

   (b) prepare all necessary applications, answers, responses,
       objections, orders, reports and other legal papers;

   (c) represent the Committee in any and all matters arising in
       the Case;

   (d) assist the Committee in its investigation and analysis of
       the Debtor, including but not limited to, the review and
       analysis of all pleadings, claims and plan of
       reorganization filed in the case and any negotiations
       or litigation that may arise out of or in connection with
       the matters, operations and financial affairs;

   (e) represent the Committee in all aspects of confirmation
       proceedings; and

   (f) perform all other legal services for the Committee that
       may be necessary or desirable in these proceedings.

In exchange for its services, Schiff Hardin will be paid based on
its professionals' hourly rates.  The principal attorneys proposed
to represent the Committee are:

   Professional             Rate Per Hour
   ------------             -------------
   Louis T. DeLucia              $725
   Alyson M. Fiedler             $550

The firm will also be reimbursed for necessary and reasonable out-
of-pocket expenses.

Louis T. DeLucia, a partner at the law firm, assures the Court
that Schiff (a) does not hold or represent any interest adverse to
the Debtor or their Chapter 11 estates, their creditors, or any
other party-in-interest and (b) is a "disinterested
person" as that term is defined in Section 101 (14) of the
Bankruptcy Code.

                      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.

A 3-member Official Committee of Unsecured Creditors has been
appointed in the Debtor's Chapter 11 case.


WATERSONG APARTMENTS: Nov. 3 Disclosure Statement Hearing Set
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of California
has set a hearing for Nov. 3, 2011, at 10:30 a.m. to consider the
disclosure statement explaining Watersong Apartments, L.P.'s
Chapter 11 Plan of Reorganization.  Objections to the form of the
disclosure statement, if any, must be filed and served not later
than 14 days prior to the hearing.

This is an "earn-out" plan.  The Plan Proponent seeks to
accomplish payments under the Plan by making periodic payments or
lump sum payments, depending on the class, to the holders of
allowed claims from 1) funds available on the Effective Date; 2)
post Plan confirmation earnings of the Plan Proponents.  The
Effective Date of the proposed Plan is 11 days after the entry of
an order by the Bankruptcy Court confirming the Plan.

Section 507(a)(8) priority tax claims in Class 1 are unimpaired
under the Plan.

One West Bank FSB's Class 2 secured claim of $10,400,000
principal, plus arrearges will be paid in full through the sales
of the Watersong Condominiums, after upgrades.

Class 3 unsecured claims are composed of the unsecured portion of
the One West Claim of approximately $2,300,000 under Class 3a, and
the allowed general unsecured claims of approximately $5,052,000
under Class 3b.

Upon the full payment of the One West Allowed Secured Claim, then
the Net Cash Flow payments and the applicable Release Payments
will be paid to One West on account of the One West Guaranteed
Unsecured Claim, until said claim is paid in full.  All payments
of the Net Cash Flow Payment will be applied to the principal
amount of the One West Guaranteed Unsecured Claim.

Members of Class 3b will receive a total of 50% of their allowed
claims.  A payment of $50,000 will be made to Class 3b from the
New Value Contribution, within 30 days of the Effective Date.
This payment will be paid to the holders of allowed Class 3b
Claims on a pro rata basis.  A payment from the sale of the
Watersong Condominiums, after full payment is made to Class 3a,
from the sale of each unit, until the full amount due to this
class is paid.

All Existing Partnership Interests in Class 4 will be canceled.
The members of Class 4 will contribute a total of $100,000 in new
value to the Debtors-in-Possession (the "New Value Contribution"),
which will be used by the Debtor-in-Possession to carry out the
provisions of the Plan.  Those members of Class 4 who contribute
to the New Value Contribution will receive, as of the Effective
Date, new partnership interests in the Reorganized Debtor in an
amount equal to the percentage that their contribution represent
to the entire New Value Contribution.

A copy of the disclosure statement is available at:

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

                  About Watersong Apartments, L.P

Heaadquartered in Solana Beach, California, Watersong Apartments,
L.P., owns and operates the Watersong Condominiums, 250 separately
registered, titled and separately saleable condominium units with
separate addresses, including 14645 Las Flores Drive, Dallas,
Texas 75254, with separate parcel numbers and legal descriptions.
The partnership filed for Chapter 11 bankruptcy protection on
April 2, 2011 (Bankr. S.D. Calif. Case No. 11-05632).  Bankruptcy
Judge Louise DeCarl Adler presides over the case.  David M.
Reeder, Esq., at Reeder Law Corporation, in Los Angeles,
represents the Debtor as counsel.  In its schedules, the Debtor
disclosed assets of $10,204,930 and liabilities of $15,451,642 as
of the petition date.

The United States Trustee said that a committee under 11 U.S.C.
SEC. 1102 has not been appointed because an insufficient number of
persons holding unsecured claims against Watersong Apartments,
L.P. have expressed interest in serving on a committee



WCK INC: Case Dismissed, to Pay U.S. Trustee's Quarterly Fees
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
dismissed the Chapter 11 Case of WCK, Inc.

As reported in the Troubled Company Reporter on June 16, 2011,
Russell Clementson, attorney for the U.S. Trustee, asked that the
Court either dismiss the Debtor's case or convert it to one under
Chapter 7 of the Bankruptcy Code.

Susan V. Trevino, a paralegal specialist in the Office of the
U.S. Trustee for the Central District of California, stated that
to date, no disclosure statement and plan of reorganization has
been filed or submitted by the Debtor.  The Debtor has also
failed to comply with the requirements of the U.S. Trustee
Chapter 11 Notices and Guides, Bankruptcy Code and/or Local
Bankruptcy Rules by failing to provide the Schedules of Assets
and Liabilities and Statement of Financial Affairs.

The Court also ordered that the U.S. Trustee is granted a judgment
of $350 for quarterly fees due and unpaid in the case.  Quarterly
fees continue to accrue until an order is entered and are assessed
interest if not paid timely.

                          About WCK, Inc.

WCK, Inc., dba Four Points by Sheraton, in Diamond Bar,
California, filed for Chapter 11 bankruptcy protection (Bankr.
C.D. Calif. Case No. 11-28047) on April 26, 2011.  Judge Peter
Carroll presides over the case.  John Eom, Esq., at Wilshire One
Law Group, served as bankruptcy counsel.  The Debtor disclosed
$17,260,570 in assets and $17,099,000 in liabilities as of the
Chapter 11 filing.


WHARFSIDE ASSOCIATES: Court Dismisses Involuntary Ch. 11 Case
-------------------------------------------------------------
The Hon. David R. Duncan of the U.S. Bankruptcy Court for the
District of South Carolina dismissed the involuntary petition
against Wharfside Associates, LLC, filed by the petitioning
creditors on Dec 29, 2010.

The petitioning creditors are Blue Ion, LLC, Trident Construction
Co., Inc., Places, LLC and LS3P Assoc. Ltd.  TCC of Charleston,
Inc., though not a petitioning creditor, filed a joinder to the
Petition and has consented to the relief requested in the motion.

The Office of the U.S. Trustee filed an objection to the dismissal
of the case.

At the hearing on the motion, counsel for the Debtor advised the
Court of these terms that had been agreed upon to resolve the
issues raised by the U.S. Trustee's objection:

   a. The dismissal of the petition would not prejudice any claims
   of Doug Robertson and Tommie Robertson in the civil action
   pending in the Charleston County Court of Common Pleas.  By the
   stipulation, the Debtor does not acknowledge the validity of
   any claims asserted in the case and has disputed any liability
   for the claims.

   b. The dismissal of the petition would not prejudice any claims
   of the Association or any individual property owner in the
   Anson House project against Wharfside Associates, LLC, relating
   to management of the Anson House project.  By this stipulation,
   Debtor does not acknowledge the validity of any claims and has
   disputed any liability for such claims.

   c. Since the filing of the motion to dismiss, the Debtor has
   identified three other potential creditors: (1) National Bank
   of South Carolina, (2) Gulfstream Communications, and (3)
   Comcast Communications.  Under the terms of the Settlement
   Agreement, the debts owed to these creditors will be treated in
   the same manner as the debts owed to the Petitioning Creditors.

As reported in the Troubled Company Reporter on Feb. 16, 2011,
secured creditor Bank of America N.A. asked the Court to dismiss
the involuntary Chapter 11 case filed against Wharfside Associates
LLC or, in the alternative, for relief from the automatic stay as
to the Debtor's real and personal property in Charleston, South
Carolina, which is the subject of a foreclosure action pending in
state court in Charleston County.

                   About Wharfside Associates LLC

Trident Construction Co., LS3P Associates, Ltd., Blue Ion, LLC,
and Places, LLC, filed an involuntary Chapter 11 bankruptcy
protection against Wharfside Associates LLC on Dec. 29, 2010
(Bankr. D. S.C. Case No. 10-09210).  Judge David R. Duncan
presides the case.  Robert E. Culver, Esq., at The Culver Law Firm
represents the petitioners.


WINDMILL DURANGO: Beal Bank Objects to Amended Chapter 11 Plan
--------------------------------------------------------------
Secured creditor Beal Bank Nevada objects to the proposed Chapter
11 plan of reorganization filed by Windmill Durango Office LLC in
the U.S. Bankruptcy Court for the District of Nevada, arguing that
the Debtor's amended plan does not satisfy all of the requirements
for confirmation under Section 1129(a) of the Bankruptcy Code.

According to the bank, the Debtor is unable to provide adequate
assurances that the plan is feasible and that the Debtor will not
end up in another reorganization or liquidation, but rather,
leaves significant doubts as to the Debtor's ability to perform
the plan at all.

Under the plan, payments and distributions will be funded by the
plan proponent.  The Debtor has proposed monthly Plan payments to
Beal Bank in the amount of approximately $66,086.  The rents
collected from Allegiant Air in the current monthly amount of
$138,254 exceed the monthly Plan payments and the monthly
operating budget.  Debtor will maintain the difference in order
to fund the Plan in the future should any difficulties arise
pertaining to tenant, Allegiant Air.

All unsecured creditors and they will receive payment of 100% of
their claim filed.  This amount will be paid 90 days after entry
of the confirmation order.

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

                      About Windmill Durango

Las Vegas, Nevada-based Windmill Durango Office, LLC, currently
owns 4.49 acres of commercial real estate developed with a Class A
office with improvements in Clark County, Nevada.  IDC Windmill
Durango, LLC, is the general partner of Windmill Durango, LP,
which is the sole member of the Debtor.  The Debtor is managed by
Jeff Susa, Manager of IDC Windmill Durango, LLC.  The Company
filed for Chapter 11 protection on August 17, 2010 (Bankr. D. Nev.
Case No. 10-25594).  Zachariah Larson, Esq., and Shara Larson,
Esq., at Larson & Stephens, in Las Vegas, represent the Debtor as
counsel.  The Debtor proposed the law firm of Flangas McMillan Law
Group as special counsel.  The Debtor disclosed $21,389,774 in
assets and  $16,535,000 in liabilities as of the Petition Date.

Affiliates Windmill Durango Op, LLC (Bankr. D. Nev. Case No.
10-18058) and Windmill Durango Retail, LLC (Bankr. D. Nev. Case
No. 10-18056) filed for Chapter 11 protection on May 3, 2010.
The Debtor listed $21,389,774 in assets, and $16,543,355 in debts.


W.R. GRACE: Proposes to Settle CDGS' $130-Mil. PD Claims
--------------------------------------------------------
W.R. Grace & Co. and its affiliates ask the U.S. Bankruptcy Court
for the District of Delaware to approve their agreement with the
State of California Department of General Services in settlement
of the agency's asbestos property damage claims totaling
$130,000,000 against the Debtors.

CDGS' claims are on account of damages caused to 16 California
buildings allegedly contaminated with asbestos, in connection with
the Debtors' business operations.

The salient terms of the Settlement are:

  -- Subject to Court approval of the Settlement, and the
     Parties' respective rights of termination, the Settlement
     Amount, which totals $4,850,000, represents a final
     liquidation and allowance of the Claims;

  -- The Settlement is predicated on Grace's intention for the
     Settlement Amount to be paid in full, in cash, without any
     deduction, proration, condition or offset, not later than
     30 days after the Effective Date of the Chapter 11 plan,
     with payment to be made by an asbestos trust established by
     the plan, the Reorganized Debtors, or a paying agent
     designated or appointed under the plan.  This treatment of
     the Claims is defined in the Settlement as "Claimant's
     Recovery";

  -- The Claims Objections asserted against Claimant are held in
     suspense, without prejudice, subject to termination of the
     Settlement, if ever, according to its terms;

  -- The Claimant and the Debtors release all asbestos-related
     claims against each other; and

  -- The Settlement will terminate if it is not ultimately
     approved by the Court, or either party exercises its right
     of termination.

A list of Claims is available for free at:

  http://bankrupt.com/misc/WRG_SettlementAmounts_07062011.pdf

The Bankruptcy Court will convene a hearing on August 29, 2011, to
consider the request.  Objections are due on August 12.

In October 2009, the U.S. District Court for the District of
Delaware reversed the Bankruptcy Court's order disallowing CDGS'
claims against the Debtors.

The Bankruptcy Court in October 2008 held that the Claims are
barred by the three-year statute of limitations of the States of
California and Delaware, despite the fact that the Claims may
concern different buildings.  The Bankruptcy Court further noted
that CDGS had actual knowledge of the alleged asbestos
contamination, and were on inquiry notice of any other
contamination in their buildings, in 1990, at the latest, but CDGS
waited too long to file their Claims.  Moreover, the State of
California, together with 29 other states, filed a complaint with
the U.S. Supreme Court in Alabama against 26 asbestos
manufacturers, including Grace in 1990.  Under California Law, the
statute of limitations began to run at that time, according to the
Bankruptcy Court.

The District Court disagreed with the Bankruptcy Court's finding
that the Alabama Action was the State of California's admission
that it suffered property damage from asbestos in its buildings as
of the date of that complaint.  On the contrary, the Alabama
Complaint sought nothing more than abatement and restitution costs
due to the presence of asbestos in its buildings, and did not
suggest the discovery of any release of asbestos fibers or actual
property damage, the District Court said.

A genuine issue of fact remains as to when the contamination
occurred in the 16 buildings, as asserted by CDGS.  Absent a
showing of when contamination occurred, the discovery rule has no
bearing on the Claims.  Accordingly, summary judgment on the
grounds of statute of limitations is not appropriate, the District
Court opined.

The District Court remanded the CDGS Claims to the Bankruptcy
Court for further proceedings.

                     About W.R. Grace & Co.

Headquartered in Columbia, Maryland, W.R. Grace & Co. (NYSE:GRA)
-- http://www.grace.com/-- supplies catalysts and silica
products, especially construction chemicals and building
materials, and container products globally.

The Company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2001 (Bankr. D. Del. Case No. 01-01139).
David M. Bernick, P.C., Esq., at Kirkland & Ellis, LLP, and
Laura Davis Jones, Esq., at Pachulski Stang Ziehl & Jones,
LLP, represent the Debtors in their restructuring effort.  The
Debtors hired Blackstone Group, L.P., for financial advice.
PricewaterhouseCoopers LLP is the Debtors' accountant.  Stroock
& Stroock & Lavan, LLP, and Duane Morris, LLP, represent the
Official Committee of Unsecured Creditors.  The Creditors
Committee tapped Capstone Corporate Recovery LLC for financial
advice.  David T. Austern, the legal representative of future
asbestos personal injury claimants, is represented by Orrick
Herrington & Sutcliffe LLP and Phillips Goldman & Spence, PA.
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, and Marla
R. Eskin, Esq., at Campbell & Levine, LLC, represent the Official
Committee of Asbestos Personal Injury Claimants.  The Asbestos
Committee of Property Damage Claimants tapped Scott Baena, Esq.,
and Jay M. Sakalo, Esq., at Bilzin Sumberg Baena Price & Axelrod,
LLP, to represent it.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel, LLP, represents the Official Committee of
Equity Security Holders.

W.R. Grace and its debtor affiliates, with the support of the
Official Committee of Asbestos Personal Injury Claimants, the
Asbestos PI Future Claimants' Representative and the Official
Committee of Equity Security Holders, have submitted a proposed
Chapter 11 plan of reorganization.  The Chapter 11 plan is built
around an April 2008 settlement for all present and future
asbestos personal injury claims, and a subsequent settlement for
asbestos property damage claims.  The Plan confirmation hearing
wrapped up on Jan. 25.

Bankruptcy Creditors' Service, Inc., publishes W.R. Grace
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by W.R. Grace, W.R. Grace Co. - Conn. and their
affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000)


W.R. GRACE: Wins OK for Massachusetts NRD Settlement
----------------------------------------------------
W.R. Grace & Co. and its affiliates obtained the Bankruptcy
Court's permission to enter into a consent decree with the United
States of America and the Commonwealth of Massachusetts addressing
their claims with respect to alleged natural resources damage at
the Blackburn and Union Privileges Superfund Site, in Walpole,
Massachusetts.

The Site is an "Additional Site" within the meaning of the 2008
Multi-Site Agreement.

The NRD Consent Decree resolves (i) the Government's NRD claim as
outlined in Claim No. 9634 insofar as it relates to the Site, to
the extent, if any, that the claim has not been resolved by the
Multi-Site Agreement and by that consent decree with respect to
the performance of certain Settling Defendants, including the
Debtors, of remedial design and remedial action work as well as
reimbursement of Response Costs incurred by the Government, in Re
United States v. BIM Inv. Corp. et. al., Nol:10-cv-11263-NG; and
(ii) Massachusetts NRD claim as outlined in Claim No. 12849
insofar as it relates to the Site, to the extent, if any, that the
claim has not been resolved by the Stipulation Resolving Claims of
the Massachusetts Department of Environmental Protection approved
on February 4, 2011.

The NRD Consent Decree requires that the Settling Defendants
compensate the Government and Massachusetts for the NRD claims.
However, unlike other consent decrees typically entered into by
the Government under the Comprehensive Environmental Response,
Compensation, and Liability Act, the Debtors' obligations under
the NRD Consent Decree are not stated to be joint and several with
the other Settling Defendants.

With respect to NRD, the Debtors agree under the NRD Consent
Decree to pay $358,745 to the United States Department of the
Interior, on behalf of the federal and state Natural Resources
Trustees, which is approximately 47.5% of the total amount that
the Trustees agreed to accept in payment for ecological and
groundwater NRD from all of the Settling Defendants.  The Debtors'
obligation to pay this claim is in the form of an allowed general
unsecured claim against the Debtors' bankruptcy estates, which
will be paid in the same manner as all other allowed general
unsecured claims within 30 days of the effective date of the NRD
Consent Decree or within 30 days of the effective date of a
confirmed Chapter 11 plan of reorganization for the Debtors,
whichever is later.

In addition, the Debtors agree under the NRD Consent Decree to pay
$168,339 to Massachusetts, which is 50% of the total amount that
Massachusetts agreed to accept in payment of groundwater NRD from
all of the Settling Defendants.  The Debtors' obligation to pay
compensation for NRD is in the form of an allowed general
unsecured claim against the Debtors' estates, which will be paid
in the same manner as the Allowed U.S. NRD Claim.

In return for the obligations to be assumed by the Settling
Defendants under the NRD Consent Decree, the Government and
Massachusetts will provide to the Settling Defendants a covenant
not to sue for matters addressed under the NRD Consent Decree.
Those matters include compensation for alleged injury to
groundwater and non-groundwater natural resources, and assessment
costs.

                     About W.R. Grace & Co.

Headquartered in Columbia, Maryland, W.R. Grace & Co. (NYSE:GRA)
-- http://www.grace.com/-- supplies catalysts and silica
products, especially construction chemicals and building
materials, and container products globally.

The Company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2001 (Bankr. D. Del. Case No. 01-01139).
David M. Bernick, P.C., Esq., at Kirkland & Ellis, LLP, and
Laura Davis Jones, Esq., at Pachulski Stang Ziehl & Jones,
LLP, represent the Debtors in their restructuring effort.  The
Debtors hired Blackstone Group, L.P., for financial advice.
PricewaterhouseCoopers LLP is the Debtors' accountant.  Stroock
& Stroock & Lavan, LLP, and Duane Morris, LLP, represent the
Official Committee of Unsecured Creditors.  The Creditors
Committee tapped Capstone Corporate Recovery LLC for financial
advice.  David T. Austern, the legal representative of future
asbestos personal injury claimants, is represented by Orrick
Herrington & Sutcliffe LLP and Phillips Goldman & Spence, PA.
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, and Marla
R. Eskin, Esq., at Campbell & Levine, LLC, represent the Official
Committee of Asbestos Personal Injury Claimants.  The Asbestos
Committee of Property Damage Claimants tapped Scott Baena, Esq.,
and Jay M. Sakalo, Esq., at Bilzin Sumberg Baena Price & Axelrod,
LLP, to represent it.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel, LLP, represents the Official Committee of
Equity Security Holders.

W.R. Grace and its debtor affiliates, with the support of the
Official Committee of Asbestos Personal Injury Claimants, the
Asbestos PI Future Claimants' Representative and the Official
Committee of Equity Security Holders, have submitted a proposed
Chapter 11 plan of reorganization.  The Chapter 11 plan is built
around an April 2008 settlement for all present and future
asbestos personal injury claims, and a subsequent settlement for
asbestos property damage claims.  The Plan confirmation hearing
wrapped up on Jan. 25.

Bankruptcy Creditors' Service, Inc., publishes W.R. Grace
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by W.R. Grace, W.R. Grace Co. - Conn. and their
affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000)


W.R. GRACE: BlackRock Has 2.88 Equity Stake in Grace
----------------------------------------------------
BlackRock, Inc., disclosed in a Schedule 13G/A filed with the U.S.
Securities and Exchange Commission on July 8, 2011, that it is
deemed to beneficially own 2,112,635 shares of W.R. Grace stock
representing 2.88% of the 73,436,741 Grace shares outstanding as
of April 30, 2011.

                     About W.R. Grace & Co.

Headquartered in Columbia, Maryland, W.R. Grace & Co. (NYSE:GRA)
-- http://www.grace.com/-- supplies catalysts and silica
products, especially construction chemicals and building
materials, and container products globally.

The Company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2001 (Bankr. D. Del. Case No. 01-01139).
David M. Bernick, P.C., Esq., at Kirkland & Ellis, LLP, and
Laura Davis Jones, Esq., at Pachulski Stang Ziehl & Jones,
LLP, represent the Debtors in their restructuring effort.  The
Debtors hired Blackstone Group, L.P., for financial advice.
PricewaterhouseCoopers LLP is the Debtors' accountant.  Stroock
& Stroock & Lavan, LLP, and Duane Morris, LLP, represent the
Official Committee of Unsecured Creditors.  The Creditors
Committee tapped Capstone Corporate Recovery LLC for financial
advice.  David T. Austern, the legal representative of future
asbestos personal injury claimants, is represented by Orrick
Herrington & Sutcliffe LLP and Phillips Goldman & Spence, PA.
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, and Marla
R. Eskin, Esq., at Campbell & Levine, LLC, represent the Official
Committee of Asbestos Personal Injury Claimants.  The Asbestos
Committee of Property Damage Claimants tapped Scott Baena, Esq.,
and Jay M. Sakalo, Esq., at Bilzin Sumberg Baena Price & Axelrod,
LLP, to represent it.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel, LLP, represents the Official Committee of
Equity Security Holders.

W.R. Grace and its debtor affiliates, with the support of the
Official Committee of Asbestos Personal Injury Claimants, the
Asbestos PI Future Claimants' Representative and the Official
Committee of Equity Security Holders, have submitted a proposed
Chapter 11 plan of reorganization.  The Chapter 11 plan is built
around an April 2008 settlement for all present and future
asbestos personal injury claims, and a subsequent settlement for
asbestos property damage claims.  The Plan confirmation hearing
wrapped up on Jan. 25.

Bankruptcy Creditors' Service, Inc., publishes W.R. Grace
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by W.R. Grace, W.R. Grace Co. - Conn. and their
affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000)


XSTREAM SYSTEMS: Aug. 5 Deadline Set for EDXRD System Bids
----------------------------------------------------------
Xstream Systems, Inc.'s EDXRD system (XT250) has been put up for
sale.

Xstream, based in Sebastian, FL, was formed in 2004 and is
primarily engaged in the development and sale of hardware and
software products and services relating to the use of Energy
Dispersive X-Ray Diffraction (EDXRD) technologies to detect,
identify and authenticate various materials at the molecular
level.  The primary deployment of these technologies has been in
the pharmaceutical market whereby the EDXRD system (XT250) is used
to verify that a solid form drug (powder, pill or capsule) inside
a sealed package matches the expected content.  The EDXRD system
has been deployed at various nodes in the pharmaceutical
distribution chain to thwart the movement of counterfeit or
mislabeled drugs.

Material is placed inside the EDXRD machine where it is exposed to
a constant power x-ray through a fixed angle of diffraction.  The
sample is rotated throughout the scan.  The diffracted x-ray image
is then analyzed and compared to a database containing the
molecular signature of the putative contents of the package. If
there is a match, the contents are verified.  If not, they are
presumed suspect.  XStream Systems' EDXRD Technology validates the
contents, preserves the sample, avoids expensive labor, and can
process 40 samples per hour at current scale.

The system exceeds 95% accuracy on materials for which it has been
deployed.

The Opportunity

This sale presents the opportunity for a purchaser to acquire
proven technology with an installed customer base, with a clean
balance sheet and capital structure.

Xstream's EXDRD has been implemented in several successful
installations.  In an effort to expand the installed customer base
and improve revenue generation, the company identified a lower-
cost deployment model (a "click-fee" system that ties customer
payments to value of products scanned, providing for scalability
across the entire spectrum of pharmaceuticals) with a replacement
cost in excess of 3.0 million dollars, to support new customers.
This makes the Company and its underlying technology well
positioned for restart and expansion into new markets.

Assets for sale include proprietary software; a proprietary
database of scanned pharmaceutical molecular samples; machine
designs and the machine implementation protocol; the installed
base of machines; existing contracts with customers, all
trademarks and copyrights.  The assets can be acquired as a whole
or discretely.

A stalking horse bid in the amount of $647,050 has been approved
by the Bankruptcy Court.  This offer will be subject to both
Bankruptcy Court approval and any higher and better offers that
might be received during the solicitation and auction process.
Eligible Bids are required to be submitted on or before August 5,
2011 with an auction to be conducted on August 8, 2010, at the
offices of Gersten Savage LLP., 600 Lexington Ave. 9th floor, New
York, NY 10022, if multiple Eligible Bids are received.  The
winning bid will be submitted for Bankruptcy Court approval on
August 9th, 2011.

To obtain more information in addition to the Non-Disclosure
Agreement and Bid Procedures linked herein, please contact the
undersigned Financial Advisor to the Official Committee of
Unsecured Creditors:

          Ted Gavin, CTP
          Principal
          NHB Advisors, Inc.
          919 N. Market Street, Suite 1410
          Wilmington, DE 19801
          Telephone: (302) 655-8997 x151
          Mobile: (484) 432-3430
          E-mail: ted.gavin@nhbteam.com

               - and -

          Peter S. Hartheimer
          Managing Director
          NHB Advisors, Inc.
          405 Lexington Avenue
          26th Floor
          New York, NY 10174
          Mobile: (845) 323-1267
          E-mail: peter.hartheimer@nhbteam.com

The Official Committee of Unsecured Creditors is a party in
interest in these proceedings and has sent you this correspondence
to apprise you of this sale transaction.

Sebastian, Florida-based XStream Systems, Inc., filed for Chapter
11 bankruptcy protection (Bankr. D. Del. Case No. 11-11086) on
April 8, 2011.  Jamie Lynne Edmonson, Esq., at Bayard PA, serves
as the Debtor's bankruptcy counsel.  The Debtor estimated its
assets at $500,001 to $1 million and debts at $1 million to
$10 million.


YELLOWSTONE CLUB: Founder Seeks to Join in Suit v. Credit Suisse
----------------------------------------------------------------
Timothy L. Blixseth and Alfredo Miguel seek to intervene in a
group lawsuit against Credit Suisse Group AG in U.S. federal court
in Boise, Idaho.

Mr. Miguel is founder of Tamarack Resort, LLC, and was its
chairman of the board of directors.  Mr. Blixseth was the founder
of the Yellowstone Club and, through his holdings companies, was
the manager and developer of the Club until August 2008.

Papers filed Friday state that, through their ownership and
management interests in their respective developments, Messrs.
Blixseth and Miguel were defrauded by the Defendants in much the
same way that the existing plaintiffs were defrauded.  Credit
Suisse through its loans to the Yellowstone Club and Tamarack, and
Cushman & Wakefield through its inflated appraisals of the
resorts, created a "parade of horribles" for Messrs. Blixseth and
Miguel and the existing plaintiffs, court papers say.  The damages
suffered by Messrs. Blixseth and Miguel and the plaintiffs all
stem from substantially the same facts involving Credit Suisse's
loans to the Yellowstone Club, Tamarack, Lake Las Vegas and Ginn
Sur Merr.  Because of the similarity in both law and fact between
Messrs. Blixseth and Miguel's claims and the existing claims of
the plaintiffs, Messrs. Blixseth and Miguel contend that the Court
should grant their Motion allowing them to intervene under Federal
Rule of Civil Procedure 24.

The lawsuit was originally filed in January 2010 and seeks at
least $2.5 billion from the Defendants.

Messrs. Blixseth and Miguel are represented by:

          Andrew E. Hawes, Esq.
          5183 P.O. Box 2153
          Boise, ID 83701
          Tel: (503) 501-7190
          E-mail: andyhawes@hotmail.com

The case is L.J. Gibson, et al., v. Credit Suisse AG, a Swiss
corporation, et al., Case No. 1:10-cv-00001 (D. Idaho).

A copy of Messrs. Blixseth and Miguel's MEMORANDUM OF POINTS AND
AUTHORITIES IN SUPPORT OF MOTION TO INTERVENE AS PLAINTIFFS AND TO
FILE COMPLAINT IN INTERVENTION PURSUANT TO FEDERAL RULE OF CIVIL
PROCEDURE 24(a)(2) and (b)(1)(B), filed July 22, is available at
http://bankrupt.com/misc/Brief.pdf

                       About Tamarack Resort

Tamarack Resort LLC, a golf and ski resort in Valley County,
Idaho, was sent to Chapter 7 after creditors submitted an
involuntary petition (Bankr. D. Idaho Case No. 09-03911).  The
petitioning creditors include an affiliate of Bank of America
Corp. owed $4.7 million.

On April 9, 2010, Bankruptcy Judge Terry Myers signed an order
converting Tamarack Resort LLC's involuntary chapter 7 case to a
chapter 11 reorganization.

The project's 27.5% owner, VPG Investments Inc., filed for Chapter
11 reorganization in 2008, only to have the petition dismissed in
October 2008 at the request of the secured creditor, Credit
Suisse, Caymans Islands Branch.  VPG was controlled by Mexican
businessman Alfredo Miguel Afif.  Credit Suisse, the agent for the
secured lenders, characterized VPG's Chapter 11 case as "a classic
example of a bad faith filing" made "solely as a litigation
tactic" to stop foreclosure.

                        About Yellowstone Club

Located near Big Sky, Montana, Yellowstone Club --
http://www.theyellowstoneclub.com/-- is a private golf and ski
community with more than 350 members, including Bill Gates and Dan
Quayle.  The Company was founded in 1999.

Yellowstone Mountain Club LLC and its affiliates filed for Chapter
11 on Nov. 10, 2008 (Bankr. D. Mont. Case No. 08-61570).  The
Company's owner affiliate Edra D. Blixseth, filed for Chapter 11
on March 27, 2009 (Bankr. D. Mont. Case No. 09-60452).

In June 2009, the Bankruptcy Court entered an order confirming
Yellowstone's Chapter 11 Plan.  Pursuant to the Plan, CrossHarbor
Capital Partners, LLC, acquired equity ownership in the
reorganized club for $115 million.

Attorneys at Bullivant Houser Bailey PC and Bekkedahl & Green
PLLC, represented the Debtors.  The Debtors hired FTI Consulting
Inc. and Ronald Greenspan as CRO.  The official committee of
unsecured creditors were represented by Parsons, Behle and
Latimer, as counsel, and James H. Cossitt, Esq., at local counsel.
Credit Suisse, the prepetition first lien lender, was represented
by Skadden, Arps, Slate, Meagher & Flom.

The Court entered an order confirming The Yellowstone Club's
Chapter 11 Plan of Reorganization in June 2009.


YRC WORLDWIDE: Obtains Commitments for $400MM Asset-Based Loan
--------------------------------------------------------------
YRC Worldwide Inc. has obtained commitments for a three-year, $400
million asset-based loan facility that will replace the company's
existing asset-backed securitization (ABS) facility.  Commitments
for the ABL facility comply with the agreements reached April 29,
2011, with key stakeholders providing for their support of the
company's financial restructuring plan.

"Replacing the ABS facility with this new facility should improve
the company's liquidity," says John Lamar, chief restructuring
officer and lead director of YRC Worldwide."  That helps support
our industry's seasonal pattern of revenues and provides the
financial flexibility and run room we need to grow the business."

Lamar says YRC Worldwide remains on track to close the
restructuring later this month

                         About YRC Worldwide

Headquartered in Overland Park, Kan., YRC Worldwide Inc. (NASDAQ:
YRCW) -- http://www.yrcw.com/-- is a holding company that through
wholly owned operating subsidiaries offers its customers a wide
range of transportation services.  These services include global,
national and regional transportation as well as logistics.

KPMG LLP's audit reports on the consolidated financial statements
of YRC Worldwide Inc. and subsidiaries for 2009 and 2010 each
contain an explanatory paragraph that states that the Company has
experienced significant declines in operations, cash flows and
liquidity and these conditions raise substantial doubt about the
Company's ability to continue as a going concern.

                           *     *     *

In January 2011, Standard & Poor's Ratings Services placed its
'CCC-' corporate credit rating on YRC Worldwide Inc. (YRCW) on
CreditWatch developing.  At the same time, S&P is withdrawing the
existing issue level ratings on Yellow Corp.'s senior unsecured
debt, given the negligible amounts outstanding.

"The ratings on Overland Park, Kan.-based YRCW reflect its near-
term liquidity challenges, meaningful off-balance-sheet contingent
obligations related to multiemployer pension plans, as well as its
participation in the competitive, capital-intensive, and cyclical
trucking industry," said Standard & Poor's credit analyst Anita
Ogbara.  "YRCW's substantial (albeit deteriorating) market
position in the less-than-truckload (LTL) sector, which has high
barriers to entry, partially offsets these characteristics.  We
characterize YRCW's business profile as weak, financial profile as
highly leveraged, and liquidity as weak."

As reported by the TCR on March 22, 2011, Moody's Investors
Service has lowered the Corporate Family Rating of YRC Worldwide,
Inc to Ca from Caa3.  The rating outlook is negative.  The rating
has been downgraded in response to the company's recent disclosure
of a "Milestone Failure" relating to requirements under its
amended credit agreement.  Moody's believes that this development
increases the risk in YRC's efforts to conclude critical
refinancing that is instrumental to its ability to avoid
bankruptcy.

As reported by the TCR on May 5, 2011, Fitch Ratings downgraded
YRC's Issuer default rating to 'C' from 'CC'; Secured bank credit
facility rating downgraded to 'CCC/RR2' from 'B-/RR2'; and Senior
unsecured rating affirmed at 'C/RR6'.  In addition, Fitch has
removed YRCW's ratings from Rating Watch Negative.  Fitch said
that although it appears increasingly likely that the company will
successfully complete the restructuring, until the transactions
constituting the restructuring close, which is not anticipated
until late July 2011, there exists a potential for the transaction
to fail, in which case Fitch expects the company would be forced
to file for Chapter 11 bankruptcy protection.


YRC WORLDWIDE: Incurs $39 Million Net Loss for 2nd Quarter
----------------------------------------------------------
YRC Worldwide Inc. reported a net loss of $39 million, compared to
a net loss of $10 million reported for the second quarter of 2010,
which included an $83 million after-tax benefit for a fair value
adjustment to an equity-based award.

Consolidated operating revenue for the second quarter of 2011 was
$1.257 billion and consolidated operating loss was $2 million,
which included $17 million of restructuring professional fees.  As
a comparison, the company reported consolidated operating revenue
of $1.119 billion for the second quarter of 2010 and consolidated
operating income of $48 million, which included an $83 million
benefit for a fair value adjustment to an equity-based award and
$9 million of restructuring professional fees.

"We are pleased with the continued year-over-year growth in
business volumes and improvements in earnings as we achieved
consolidated adjusted operating income for the second quarter,"
stated Bill Trubeck, Interim Executive Vice President and CFO of
YRC Worldwide.  "In particular, YRC National's adjusted operating
income represents an important milestone for this business."

Board of Directors and Management Transition

The restructure closing will mark the conclusion of service for
the company's current board of directors and the assignments for
chief restructuring officer John Lamar and interim chief financial
officer Bill Trubeck.  "I wish to express my gratitude to John
Lamar and Bill Trubeck for their leadership and expertise during
this critical period," stated Bill Zollars, chairman, president
and CEO of YRC Worldwide.

In September of last year, YRC Worldwide announced Zollars'
retirement following finalization of the recovery plan. "With the
completion of the comprehensive recovery plan and as I announced
earlier, I will be stepping down as chairman, president and CEO of
YRC Worldwide," said Zollars.  "I would like to extend my sincere
thanks to all of our employees and other key stakeholders who have
worked tirelessly to make the restructuring possible and to our
loyal customers who have continued to allow us to serve their
transportation and logistics needs throughout the restructuring
period."

                    Key Segment Information

Second quarter 2011 compared to the second quarter of 2010:

YRC National Transportation adjusted operating ratio improved by
350 basis points to 99.2, shipments per day up 7.1%, tons per day
up 6.2%, revenue per shipment up 5.0%, and revenue per
hundredweight up 6.0%

YRC Regional Transportation adjusted operating ratio improved by
180 basis points to 95.9, tons per day up 8.1%, revenue per
shipment up 9.9%, and revenue per hundredweight up 6.5%

                            Outlook

"The restructure closing which includes net cash proceeds from the
$100 million of new notes and the new $400 million ABL will
enhance our liquidity position and provide runway for the
continued growth in revenues and earnings.  With the operating
momentum we achieved during the second quarter, which continued
to-date into July, we expect to achieve year-over-year revenue
growth and adjusted operating income for the remainder of 2011,"
stated Trubeck.

In addition, the company has the following updated expectations
for full year 2011:

Gross capital expenditures up to $125 million

Excess property sales in the range of $30 million to $40 million

Cash interest of approximately $30 million per quarter, post
restructure

Effective tax rate of 5%

                      Review of Financial Results

YRC Worldwide Inc. will host a conference call with the investment
analyst community today, Friday, July 22, 2011, beginning at
9:30am ET, 8:30am CT. The conference call will be available to
listeners via the YRC Worldwide website yrcw.com.  An audio
playback will be available after the call also via the YRC
Worldwide website.

               Certain Non-GAAP Financial Measures

Adjusted operating income (loss) is a non-GAAP measure that
reflects the company's operating income before letter of credit
fees, certain union employee equity-based compensation expense,
net gains or losses on property disposals, and certain other items
including restructuring professional fees and results of permitted
dispositions.  Adjusted EBITDA is a non-GAAP measure that reflects
the company's earnings before interest, taxes, depreciation, and
amortization expense, and further adjusted for letter of credit
fees, equity-based compensation expense, net gains or losses on
property disposals and certain other items, including
restructuring professional fees and results of permitted
dispositions and discontinued operations as defined in the
company's credit agreement.  Adjusted EBITDA and adjusted
operating income (loss) are used for internal management purposes
as financial measures that reflect the company's core operating
performance.  In addition, management uses adjusted EBITDA to
measure compliance with financial covenants in the company's
credit agreement.  However, these financial measures should not be
construed as better measurements than operating income, operating
cash flow or earnings per share, as defined by generally accepted
accounting principles.

Adjusted operating income (loss) and adjusted EBITDA have the
following limitations:

Adjusted operating income (loss) and Adjusted EBITDA do not
reflect the interest expense or the cash requirements necessary to
fund restructuring professional fees, letter of credit fees,
service interest or principal payments on our outstanding debt;

Although depreciation and amortization are non-cash charges, the
assets being depreciated and amortized will often have to be
replaced in the future, and adjusted EBITDA does not reflect any
cash requirements for such replacements;

Equity-based compensation is an element of our long-term incentive
compensation program, although adjusted operating income (loss)
and adjusted EBITDA exclude either certain union employee equity-
based compensation expense or all of it as an expense,
respectively, when presenting our ongoing operating performance
for a particular period; and

Other companies in our industry may calculate adjusted operating
income (loss) and adjusted EBITDA differently than we do, limiting
their usefulness as a comparative measure.

Because of these limitations, adjusted operating income (loss) and
adjusted EBITDA should not be considered a substitute for
performance measures calculated in accordance with GAAP.  We
compensate for these limitations by relying primarily on our GAAP
results and using adjusted operating income (loss) and adjusted
EBITDA as secondary measures.  The company has provided
reconciliations of its non-GAAP measures (adjusted operating
income [loss] and adjusted EBITDA) to GAAP measures within the
supplemental financial information in this release.

                      About YRC Worldwide

Headquartered in Overland Park, Kan., YRC Worldwide Inc. (NASDAQ:
YRCW) -- http://www.yrcw.com/-- is a holding company that through
wholly owned operating subsidiaries offers its customers a wide
range of transportation services.  These services include global,
national and regional transportation as well as logistics.

KPMG LLP's audit reports on the consolidated financial statements
of YRC Worldwide Inc. and subsidiaries for 2009 and 2010 each
contain an explanatory paragraph that states that the Company has
experienced significant declines in operations, cash flows and
liquidity and these conditions raise substantial doubt about the
Company's ability to continue as a going concern.

The Company's balance sheet at March 31, 2011, showed $2.62
billion in total assets, $2.91 billion in total liabilities, and a
$287.64 million total shareholders' deficit.

                           *     *     *

In January 2011, Standard & Poor's Ratings Services placed its
'CCC-' corporate credit rating on YRC Worldwide Inc. (YRCW) on
CreditWatch developing.  At the same time, S&P is withdrawing the
existing issue level ratings on Yellow Corp.'s senior unsecured
debt, given the negligible amounts outstanding.

"The ratings on Overland Park, Kan.-based YRCW reflect its near-
term liquidity challenges, meaningful off-balance-sheet contingent
obligations related to multiemployer pension plans, as well as its
participation in the competitive, capital-intensive, and cyclical
trucking industry," said Standard & Poor's credit analyst Anita
Ogbara.  "YRCW's substantial (albeit deteriorating) market
position in the less-than-truckload (LTL) sector, which has high
barriers to entry, partially offsets these characteristics.  We
characterize YRCW's business profile as weak, financial profile as
highly leveraged, and liquidity as weak."

As reported by the TCR on March 22, 2011, Moody's Investors
Service has lowered the Corporate Family Rating of YRC Worldwide,
Inc to Ca from Caa3.  The rating outlook is negative.  The rating
has been downgraded in response to the company's recent disclosure
of a "Milestone Failure" relating to requirements under its
amended credit agreement.  Moody's believes that this development
increases the risk in YRC's efforts to conclude critical
refinancing that is instrumental to its ability to avoid
bankruptcy.

As reported by the TCR on May 5, 2011, Fitch Ratings downgraded
YRC's Issuer default rating to 'C' from 'CC'; Secured bank credit
facility rating downgraded to 'CCC/RR2' from 'B-/RR2'; and Senior
unsecured rating affirmed at 'C/RR6'.  In addition, Fitch has
removed YRCW's ratings from Rating Watch Negative.  Fitch said
that although it appears increasingly likely that the company will
successfully complete the restructuring, until the transactions
constituting the restructuring close, which is not anticipated
until late July 2011, there exists a potential for the transaction
to fail, in which case Fitch expects the company would be forced
to file for Chapter 11 bankruptcy protection.



ZAIS INVESTMENT: Plan Outline Hearing Scheduled for Sept. 13
------------------------------------------------------------
The Hon. Raymond T. Lyons of the U.S. Bankruptcy Court for the
District of New Jersey will convene a hearing on Sept. 13, 2011,
at 10:00 a.m. (Prevailing Eastern Time), to consider adequacy of
the Disclosure Statement and confirmation of the Prepackaged
Plan for Zais Investment Grade Limited VII as proposed by GRF
Master Fund, L.P., Anchorage Illiquid Opportunities Offshore
Master, L.P. and Anchorage Capital Master Offshore, Ltd.

If necessary, the hearing will continue on Sept. 14.  Objections,
if any, are due 11:59 p.m. on Aug. 29.  Replies to any objections
to the Disclosure Statement, or the prepackaged Plan will be filed
by 11:59 p.m. on Sept. 9.

The Plan Proponents believe that Senior Noteholders will receive
a greater (in present value terms) and more certain recovery if
the Debtor's Assets can be liquidated opportunistically as
compared to what the Senior Noteholders will receive if the
Debtor's Assets are held and distributions are made pursuant to
the Indenture.  In contrast, the Plan Proponents believe that
recoveries to Senior Noteholders remain at substantial risk given
the potential for future non-performance of the Debtor's Assets.
Accordingly, the Plan Proponents seek to confirm the Plan to
permit for the opportunistic liquidation of the Debtor's Assets
for the benefit
of Senior Noteholders.

According to the Disclosure Statement, the Plan is premised upon
the formation of a new investment vehicle holding, managing and
eventually monetizing substantially all of the Debtor's Assets.
The  Plan adheres to the contractual payment waterfall and
subordination  provisions of the Indenture and provides for the
payment in full of  all Claims senior to the Senior Notes Claims
and a pro rata  distribution to the Senior Noteholders of the
remaining net Cash proceeds from the liquidation of the Designated
Assets.  Each holder of a General Unsecured Claim will not receive
any property under the Plan.  All Old Equity Interests and Claims
junior to the Senior Note Claims will receive no distribution
under the Plan.

Upon the Effective Date, the Debtor will transfer the Designated
Assets (which will consist of, among other things, all of the
Debtor's Collateral Securities) to a new entity, NewCo, in
exchange for the New LP Interest in NewCo and, if necessary,
certain Cash to fund the Debtor's obligations that are senior to
the Senior Notes.  NewCo will hold and opportunistically liquidate
the Designated Assets  and, after deducting NewCo's expenses and
liabilities, will distribute the proceeds from the sale of the
Designated Assets to the Debtor (on account of the New LP
Interest) for payment of Plan Distributions.

From and after the Effective Date, (i) NewCo's operation will be
managed by the General Partner and (ii) Anchorage Capital Group,
L.L.C. will be the Investment Manager of NewCo with the
responsibility for liquidating the Designated Assets.

To the extent necessary to provide cash to consummate the Plan,
the Exit Facility will be entered into between NewCo and the exit
facility lender on or after the Effective Date.  The Exit Facility
will allow NewCo to borrow up to $5 million. If the Debtor does
not have sufficient cash to make Plan Distributions to holders of
claims senior to the Senior Notes, NewCo will transfer the
proceeds from the exit facility to the debtor to allow the debtor
to make cash plan distributions, and NewCo will pay the exit
facility lender any amounts due under the exit facility prior to
making distributions on account of the New LP Interest that will
be used to pay holders of Senior Notes.

              About Zais Investment Grade Limited VII

Zais Investment Grade Limited VII is based in Grand Cayman.

On April 1, 2011, Anchorage Capital Master Offshore, Ltd., GRF
Master Fund, L.P., and Anchorage Illiquid Opportunities Offshore
Masters, L.P. filed an involuntary Chapter 11 petition against
Zais Investment Grade Limited VII.  On April 26, 2011, the U.S.
Bankruptcy Court for the District of New Jersey entered an order
for relief under chapter 11 of the Bankruptcy Code.

The Debtor tapped Wollmuth Maher & Deutsch LLP as general
bankruptcy counsel, and Jones Day as special counsel.

The Debtor disclosed $504 in assets and $365,771,549 in
liabilities.


* 7th Cir. Expounds on Removal and Remand in Bankruptcy
-------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that U.S. Circuit Judge Richard A. Posner began a July 21
opinion saying, "this appeal requires us to plumb the mysteries of
removal and remand in the context of bankruptcy."  The case
chiefly deals with when remand to state court is or is not
appealable.  After exploring the complexities of the two statutory
provisions, Judge Posner ends by upholding dismissal of an appeal
from an order remanding a suit to state court.  The case is
Townsquare Media, Inc., formerly known as Regent Communications,
Inc., Defendant-Appellant, v. Alan R. Brill, et al., Plaintiffs-
Appellees, Nos. 10-3017, 10-3018 (7th Cir.).  A copy of the
decision is available at http://is.gd/JVK9llfrom Leagle.com.

Alan Brill owned a number of media companies.  In 2002 creditors
forced several of them into a Chapter 11 bankruptcy.  Neither Mr.
Brill nor his other companies were debtors in the bankruptcy
proceeding.  The bankruptcy judge ordered that the radio stations
owned by the debtors be auctioned off.  Mr. Brill bid at the
auction, but the successful bidder was Regent.  The bankruptcy
plan was confirmed in 2003.  Essentially it was a liquidation,
although the bankrupt companies were not dissolved.

Years later Mr. Brill sued Regent, along with pre-judgment
creditors of the debtors and some of the debtors' lawyers and
other professional advisors in an Indiana state court.  The 111-
page complaint contained a multiplicity of tort and contract
claims.  The creditors were alleged to have violated the terms of
the bond covenants and by these and other means to have forced the
debtors to default on their bonds.  The main allegations against
the bankruptcy professionals were that they had misused
confidential information and encouraged Regent to violate two
confidentiality agreements that it had made with Mr. Brill.  The
complaint charged Regent mainly with those violations plus fraud.
All claims were based on Indiana law.


* Large Companies With Insolvent Balance Sheets
-----------------------------------------------

                                              Total
                                             Share-      Total
                                   Total   Holders'    Working
                                  Assets     Equity    Capital
  Company            Ticker        ($MM)      ($MM)      ($MM)
  -------            ------       ------   --------    -------
A&W REV ROYAL-UT     AWRRF US      179.2     (147.6)       3.6
A&W REV ROYAL-UT     AW-U CN       179.2     (147.6)       3.6
ABSOLUTE SOFTWRE     ABT CN        116.3      (12.0)     (12.6)
ACCO BRANDS CORP     ABD US      1,094.2      (77.0)     293.1
ALASKA COMM SYS      ALSK US       609.8      (27.4)       6.3
AMER AXLE & MFG      AXL US      2,167.8     (415.4)      60.4
AMR CORP             AMR US     25,787.0   (4,509.0)  (1,769.0)
ANOORAQ RESOURCE     ARQ SJ      1,024.0      (77.0)      20.9
AUTOZONE INC         AZO US      5,884.9   (1,119.5)    (655.3)
BLUEKNIGHT ENERG     BKEP US       323.5      (35.1)     (85.8)
BOSTON PIZZA R-U     BPF-U CN      148.2     (100.1)       1.3
CABLEVISION SY-A     CVC US      8,962.9   (6,462.4)    (309.5)
CADIZ INC            CDZI US        46.7       (2.1)       2.1
CANADIAN SATEL-A     XSR CN        174.4      (29.8)     (55.9)
CC MEDIA-A           CCMO US    16,938.6   (7,280.4)   1,644.2
CENTENNIAL COMM      CYCL US     1,480.9     (925.9)     (52.1)
CENVEO INC           CVO US      1,439.5     (333.5)     208.1
CHENIERE ENERGY      CQP US      1,776.3     (547.6)      24.4
CHENIERE ENERGY      LNG US      2,564.4     (509.7)      87.4
CHOICE HOTELS        CHH US        412.4      (49.0)      (1.9)
CINCINNATI BELL      CBB US      2,636.2     (650.4)       6.4
CLOROX CO            CLX US      4,051.0      (82.0)     (28.0)
COLUMBIA LABORAT     CBRX US        27.8       (2.6)      11.5
DENNY'S CORP         DENN US       296.8     (102.3)     (36.9)
DIRECTV-A            DTV US     20,593.0     (678.0)   2,813.0
DISH NETWORK-A       DISH US    10,280.6     (502.5)     705.1
DISH NETWORK-A       EOT GR     10,280.6     (502.5)     705.1
DOMINO'S PIZZA       DPZ US        487.4   (1,167.7)     167.9
DUN & BRADSTREET     DNB US      1,825.5     (615.8)    (321.8)
EPICEPT CORP         EPCT SS        12.4       (6.0)       6.0
EXELIXIS INC         EXEL US       495.7      (68.7)     126.1
FRANCESCAS HOLDI     FRAN US        59.1      (55.5)      13.2
FREESCALE SEMICO     FSL US      4,583.0   (4,401.0)   1,329.0
GENCORP INC          GY US         987.3     (161.1)      94.3
GLG PARTNERS INC     GLG US        400.0     (285.6)     156.9
GLG PARTNERS-UTS     GLG/U US      400.0     (285.6)     156.9
GRAHAM PACKAGING     GRM US      2,943.5     (501.5)     313.1
HANDY & HARMAN L     HNH US        372.2      (23.9)      13.2
HCA HOLDINGS INC     HCA US     23,877.0   (7,534.0)   2,613.0
HUGHES TELEMATIC     HUTC US       108.8      (62.4)     (16.0)
IDENIX PHARM         IDIX US        54.9      (40.6)      19.6
INCYTE CORP          INCY US       459.6     (104.0)     315.8
IPCS INC             IPCS US       559.2      (33.0)      72.1
ISTA PHARMACEUTI     ISTA US       131.7     (161.7)       6.6
JUST ENERGY GROU     JE CN       1,588.6     (219.4)    (303.2)
KNOLOGY INC          KNOL US       823.7       (4.0)      42.7
LIN TV CORP-CL A     TVL US        797.4     (127.9)      38.6
LIZ CLAIBORNE        LIZ US      1,255.8     (124.5)     (26.5)
LORILLARD INC        LO US       2,498.0     (831.0)     904.0
MAINSTREET EQUIT     MEQ CN        475.2      (10.5)       -
MANNKIND CORP        MNKD US       254.8     (203.5)      26.2
MEAD JOHNSON         MJN US      2,465.4     (250.4)     572.3
MERITOR INC          MTOR US     2,675.0   (1,006.0)     205.0
MOODY'S CORP         MCO US      2,524.4     (223.2)     498.6
MORGANS HOTEL GR     MHGC US       692.8      (29.2)     205.1
MPG OFFICE TRUST     MPG US      2,725.0   (1,082.2)       -
NATIONAL CINEMED     NCMI US       796.4     (327.0)      74.0
NAVISTAR INTL        NAV US      9,966.0     (764.0)   1,819.0
NEXSTAR BROADC-A     NXST US       582.6     (181.2)      40.0
NPS PHARM INC        NPSP US       158.3     (159.7)     117.8
NYMOX PHARMACEUT     NYMX US        10.0       (3.3)       6.8
ODYSSEY MARINE       OMEX US        25.7       (8.1)     (14.0)
OTELCO INC-IDS       OTT US        319.2       (7.6)      22.4
OTELCO INC-IDS       OTT-U CN      319.2       (7.6)      22.4
PALM INC             PALM US     1,007.2       (6.2)     141.7
PDL BIOPHARMA IN     PDLI US       248.7     (371.2)    (161.6)
PLAYBOY ENTERP-A     PLA/A US      165.8      (54.4)     (16.9)
PLAYBOY ENTERP-B     PLA US        165.8      (54.4)     (16.9)
PRIMEDIA INC         PRM US        208.0      (91.7)       3.6
PROTECTION ONE       PONE US       562.9      (61.8)      (7.6)
PURE INDUSTRIAL      AAR-U CN      277.1       (8.6)       -
QUALITY DISTRIBU     QLTY US       281.4     (124.4)      40.9
QUANTUM CORP         QTM US        431.0      (61.1)      97.9
QWEST COMMUNICAT     Q US       16,849.0   (1,560.0)  (2,828.0)
RAPTOR PHARMACEU     RPTP US        20.5      (14.6)     (21.4)
REGAL ENTERTAI-A     RGC US      2,323.2     (541.6)    (114.5)
RENAISSANCE LEA      RLRN US        57.0      (28.2)     (31.4)
REVLON INC-A         REV US      1,105.5     (686.5)     132.7
RSC HOLDINGS INC     RRR US      2,949.6      (59.2)    (205.0)
RURAL/METRO CORP     RURL US       303.7      (92.1)      72.4
SALLY BEAUTY HOL     SBH US      1,707.0     (340.6)     418.5
SINCLAIR BROAD-A     SBGI US     1,571.2     (144.6)      60.4
SINCLAIR BROAD-A     SBTA GR     1,571.2     (144.6)      60.4
SKULLCANDY INC       SKUL US        80.4      (17.7)      38.7
SMART TECHNOL-A      SMT US        546.2      (43.3)     173.7
SMART TECHNOL-A      SMA CN        546.2      (43.3)     173.7
SPIRIT AIRLINES      SAVE US       545.2      (97.0)      27.6
SUN COMMUNITIES      SUI US      1,160.1     (111.7)       -
SWIFT TRANSPORTA     SWFT US     2,555.7       (9.8)     204.6
TAUBMAN CENTERS      TCO US      2,495.4     (426.8)       -
TEAM HEALTH HOLD     TMH US        832.2      (25.7)      44.8
THERAVANCE           THRX US       315.1      (27.8)     266.9
TOWN SPORTS INTE     CLUB US       460.0       (4.7)     (15.4)
UNISYS CORP          UIS US      2,949.3     (692.1)     547.6
VANGUARD HEALTH      VHS US      4,162.2     (186.6)     356.5
VECTOR GROUP LTD     VGR US        924.6      (61.4)     294.8
VENOCO INC           VQ US         815.6      (21.6)       8.1
VERISK ANALYTI-A     VRSK US     1,286.4     (109.1)    (180.8)
VIRGIN MOBILE-A      VM US         307.4     (244.2)    (138.3)
VONAGE HOLDINGS      VG US         251.7     (102.0)     (39.2)
WARNER MUSIC GRO     WMG US      3,617.0     (254.0)    (650.0)
WEIGHT WATCHERS      WTW US      1,126.0     (636.6)    (345.4)
WESTMORELAND COA     WLB US        788.0     (173.9)      (1.0)
WORLD COLOR PRES     WC CN       2,641.5   (1,735.9)     479.2
WORLD COLOR PRES     WCPSF US    2,641.5   (1,735.9)     479.2
WORLD COLOR PRES     WC/U CN     2,641.5   (1,735.9)     479.2



                           *********

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.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
Beard at 240/629-3300.


                  *** End of Transmission ***