TCR_Public/110805.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

             Friday, August 5, 2011, Vol. 15, No. 215

                            Headlines

1703 ELDORADO: Case Summary & 17 Largest Unsecured Creditors
36 SOMERSET LANE: Mill Valley Wants Property Put Into Receivership
785 PARTNERS: Voluntary Chapter 11 Case Summary
ABCLD HOLDINGS: Voluntary Chapter 11 Case Summary
AEP INVESTMENTS: Case Summary & 3 Largest Unsecured Creditors

ALFA MUTUAL: S&P Assigns 'BBpi' Counterparty Credit Rating
ANCHOR BANCORP: Incurs $4.7 Million Net Loss in June 30 Qtr.
ANTS SOFTWARE: Issues 2-Mil. Units and Common Shares to Investors
AREK FRESSADI: Judge Hollowell Dismisses Chapter 11 Case
AURASOUND INC: Board Adopts 2011 Stock Incentive Plan

BARREL STOP: Dominari Winery Files for Chapter 11
BERNARD L MADOFF: JPM, UBS Seek Dismissal of $20.6-Bil. Suits
BIONOL CLEARFIELD: Trustee Seeks Cash to Maintain Ready Status
BLACK RAVEN: Acquires 80% Working Interest in Adena Field
BUILDER'S CONCRETE: Case Summary & 20 Largest Unsecured Creditors

BXP 1: Aims Full Payment of Secured Lender & Unsecured Claims
C&H ARIZONA: In Talks With Lender, Seeks Case Dismissal
CALVARY TEMPLE: To Present Plan for Confirmation Plan Aug. 18
CANTERA COURT: Case Summary & 2 Largest Unsecured Creditors
CAPTAIN VAN DYKE: Confirmation Denied; Case Dismissed

CATALYST PAPER: Incurs $47.4 Million Net Loss in Second Quarter
CAVIATA ATTACHED: Case Summary & 5 Largest Unsecured Creditors
CB HOLDINGS: Files Liquidating Chapter 11 Plan
CENTRAL MUTUAL: S&P Assigns 'BBpi' Counterparty Credit Rating
CFRI/GREENLAW: Wants Plan Filing Deadline Extended to Nov. 18

CHANNELSIDE CINEMAS: Files for Chapter 11 Bankruptcy Protection
CINRAM INT'L: Cut to 'CCC' as S&P Warns of Loan Breach
CLEAN AND BURN: Has Cash to Pay Trailing Expenses
COASTAL DINING: Case Summary & 10 Largest Unsecured Creditors
COMERICA HOTELS: Case Summary & 5 Largest Unsecured Creditors

CORDIA COMMS: Bingham McCutchen Ok'd as Telecommunications Attys.
COREPLUS LLC: Case Summary & 20 Largest Unsecured Creditors
CRB PARTNERS: Case Summary & 8 Largest Unsecured Creditors
CRYSTAL CATHEDERAL: Urges Members to Donate Up to $10,000 Each
CRYSTAL CATHEDRAL: Seeks to FTI Consulting to Work on Plan

DALLAS PARTNERS: Case Summary & 4 Largest Unsecured Creditors
DAVIS OFFSHORE: 5th Cir. Exhonerates Ex-CEO's Son of Liability
DAZ VINEYARDS: Bank Does Not Consent to Cash Collateral Use
DB CAPITAL: U.S. Trustee, Citing Disputes, Wants Dismissal
DELTATHREE: Seven Directors Elected at Annual Meeting

DENNY'S CORPORATION: Reports $8.13MM Net Income in June 29 Qtr.
DREIER LLP: Court Rejects Trustee's Suit Against Wachovia
EIDOLON CAPITAL: Voluntary Chapter 11 Case Summary
ELEPHANT & CASTLE: Files Schedules of Assets & Liabilities
EXTENDED STAY: Agreement on Turnover of Examiner Docs. Approved

FAVA SQUARE: Case Summary & 9 Largest Unsecured Creditors
FIDDLER'S CREEK: DYLand Further Fine-Tunes Chapter 11 Plan
FIDDLER'S CREEK: Court Enters 8th Interim Order on DIP Loans
GALP WATERS: Case Summary & 20 Largest Unsecured Creditors
GIORDANO'S ENTERPRISES: Franchisees Now Using Approved Ingredients

GPX I: Case Summary & 15 Largest Unsecured Creditors
GRACE COMMUNITY: Case Summary & 20 Largest Unsecured Creditors
GREAT ATLANTIC: At "Crucial Stage" of Labor Talks, Seeks Plan Time
GREAT ATLANTIC: Gets to Defer Decision on Select Store Leases
HAMPTON ROADS: Bank Sells Gateway Insurance for $5.8 Million

HAWAII MEDICAL: Court Okays Scouler as Financial Advisor
HILL TOP: Wants Webb County Property's 2010 Tax Rate Reduced
HINGHAM CAMPUS: Can Appoint Paul Rundell as CRO
HUDSON HEALTHCARE: Case Summary & 20 Largest Unsecured Creditors
HUDSON POINT: Case Summary & Largest Unsecured Creditor

IMMUCOR INC: S&P Assigns Prelim. 'B+' Corporate Credit Rating
INSIGNIA HOLDINGS: Case Summary & 2 Largest Unsecured Creditors
ISAACSON STRUCTURAL: Court Okays W. Gannon as General Counsel
ISHA HOMES: Case Summary & 18 Largest Unsecured Creditors
JCE DELAWARE: Voluntary Chapter 11 Case Summary

JSP INVESTMENTS: Owes $6.7 Million to State Bank of Lincoln
KCXP INVESTMENTS: Court Okays Dismissal After Deal With Lender
KEVIN LEWIS: Arkansas Attorney Admits to $47-Mil. Ponzi Scheme
KIMBALL HILL: Debtors' Contractor Preference Claims Fail
KT SPEARS: Can Access Cash from Greenhill Apartments Until Sept. 6

KT SPEARS: RBC Bank, Seeking Foreclosure, Wants Case Dismissal
KTLA LLC: Wants Access to California Properties' Cash Collateral
LEHMAN BROTHERS: Palmdale Needs Stay Relief, 9th Circuit Says
LINDEN PONDS: Can Employ Thomas Brod as Bond Consultant
LOTSA ENTERPRISES: Case Summary & 19 Largest Unsecured Creditors

MARITIME COMMUNICATIONS: Voluntary Chapter 11 Case Summary
MC AVIATION: Case Summary & 20 Largest Unsecured Creditors
MERIDIAN MORTGAGE: Founder Pleads Guilty to $100-Mil. Fraud
MERRITT AND WALDING: Files Schedules of Assets and Liabilities
METALS USA: S&P Raises Corp. Credit Rating to B+; Outlook Stable

MGM RESORTS: S&P Puts CCC+ Corp. Credit Rating on Watch Positive
MONEYGRAM INT'L: Fitch Lifts Rating on 2nd Lien Notes to 'BB-'
MORGANS HOTEL: To Operate Lifestyle Hotel as Part of Baha Mar
MORGANS HOTEL: Incurs $11.8 Million Net Loss in June 30 Quarter
MOTORS LIQUIDATION: Administrator Files June Qtr GUC Trust Reports
MOUNTAIN PROVINCE: Achieves Key Milestone at Kennady Lake

MPG OFFICE: Completes $33.75-Mil. Financing with East West Bank
NANA DEVELOPMENT: S&P Assigns 'B+' Corporate Credit Rating
NATIONAL GROUP: Judge Orders Firm to Go Into Receivership
NEW CENTURY: Adequacy of Bar Date Notice Challenged
NEW ERA: Investor Group Plans to Pay Off Lender

NEW VINTAGE: Case Summary & 7 Largest Unsecured Creditors
NO FEAR: Simo Gets OK to Use Cash Collateral of Emler and FMF
NORTEL NETWORKS: Ernst & Young's Services Now Include FBAR
NORTHERN BERKSHIRE: Committee Gets OK for Duane Morris as Counsel
NPS PHARMACEUTICALS: Incurs $6.1-Mil. Net Loss in Second Quarter

OLD CUTTERS: Case Summary & Largest Unsecured Creditor
ORLANDO COUNTRY: Taps Wolff Hill as Bankruptcy Counsel
ORLANDO COUNTRY: Files Schedules of Assets and Liabilities
PALISADES SAFETY: S&P Assigns 'BBpi' Counterparty Credit Rating
PALMDALE HILLS: Needs Relief From Lehman Stay, 9th Circ. Says

PHH CORP: Fitch Affirms 'BB+' Long-Term Issuer Default Rating
PHOENIX FOOTWEAR: Reidman Corporation Holds 58.3% Equity Stake
PMI GROUP: Warns Insurance Unit May Shutdown
PPI HOLDINGS: Ch. 11 Plan Confirmation Hearing Set for Oct. 28
PSEG ENERGY: Fitch Withdraws BB+ Long-Term Issuer Default Rating

QIMONDA RICHMOND: Reaches $35 Million Deal in WARN Act Suit
QSGI INC: Hits IBM With Antitrust Suit Over Mainframe Resales
R AND M WESSLER: Case Summary & 13 Largest Unsecured Creditors
RADICAL BUNNY: ML Servicing's Suit Sent Back to State Court
RADIENT PHARMACEUTICALS: Amends 4% Convertible Notes

REAL MEX RESTAURANTS: Waives Defaults Under Principal Debt Pacts
RED EAGLE: Voluntary Chapter 11 Case Summary
RENZO RENZI: Judge Dismisses Chapter 11 Bankruptcy Case
RUSSELL DRIVE: Case Summary & 3 Largest Unsecured Creditors
RVTC LP: U.S. Trustee Unable to Form Committee

S2K MANAGEMENT: Case Summary & 13 Largest Unsecured Creditors
SANDIA RESORTS: Case Summary & 3 Largest Unsecured Creditors
SECUREALERT INC: Borinquen Container Holds 16.46% Equity Stake
SHERI'S CABARET: Bar Foreclosure Plea Denied; Plan In The Works
SHERMAN SSA: Voluntary Chapter 11 Case Summary

SI GRAND TRAVERSE: Chapter 11 Trustee Appointment Warranted
SIRIUS XM: Reports $173.3 Million Net Income in June 30 Quarter
SL GREEN: S&P Assigns Rating to $300 Million Senior Notes
STELLAR GT: Court OKs Retention of Ballard Spahr as Counsel
STELLAR GT: Reaches Deal Permitting Chapter 11 Cases to Continue

STREETLIGHT INTELLIGENCE: Receiver Continues to Manage Affairs
SW BOSTON: Judge to Rule on Novel Cramdown Issue
TCI COURTYARD: Case Summary & Largest Unsecured Creditor
TELLICO LANDING: Case Now Assigned to Marcia Phillips Parsons
TEN X: Seeks Interim Order to Use Cole Taylor's Cash Collateral

TENET HEALTHCARE: Posts $63 Million Net Income in June 30 Quarter
THINK3 INC: Italian Trustee Seeks to Take Over in Chapter 15
THINK3 INC: Chapter 15 Case Summary
THORNBURG MORTGAGE: Barclays Aims to Dismiss $94-Mil. Suit
THP GRAPHICS: Case Summary & 20 Largest Unsecured Creditors

TITAN REALTY: Case Summary & Largest Unsecured Creditor
TP INC: Chapter 11 Trustee Wants Case Converted to Chapter 7
TRI-STAR ESTATES: Case Dismissed for Failure to File Amended Plan
ULTIMATE ESCAPES: Seeks Approval on Settlement With Baker
WAGSTAFF PROPERTIES: Seeks More Time to File Consensual Plan

WAGSTAFF PROPERTIES: Lease Decision Period Extended Until Nov. 25
WARNER MUSIC: Suspending Filing of Reports with SEC
WASHINGTON MUTUAL: Committee Objects to TPS Motion
WASHINGTON MUTUAL: Seeks OK for Pair of Securities Settlements
WHITESTONE HOUSTON: Voluntary Chapter 11 Case Summary

WICHITA FALLS: Case Summary & 7 Largest Unsecured Creditors
WINDSTREAM CORP: Fitch Says Ratings Unaffected by PAETEC Sale
WINDSTREAM CORP: S&P Affirms 'BB-' CCR on PAETEC Acquisition
WIRELESS STORE: Case Summary & 20 Largest Unsecured Creditors
WORLDSPAN MARINE: Chapter 15 Case Summary

* Guggenheim Venture Partners Spins Out as Alara Capital
* Personal Bankruptcy Filings Decline by More Than 5% in July
* S&P Gives 'BBpi' Counterparty Credit Ratings on 6 Insurers

* Conway MacKenzie Garners Three Industry Awards

* BOOK REVIEW: Fraudulent Conveyances


                            *********


1703 ELDORADO: Case Summary & 17 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: 1703 Eldorado Square LP
        aka Eldorado Square
        17300 Dallas Parkway, Suite 1035
        Dallas, TX 75248

Bankruptcy Case No.: 11-42366

Chapter 11 Petition Date: August 1, 2011

Court: United States Bankruptcy Court
       Eastern District of Texas (Sherman)

Debtor's Counsel: Mark Ian Agee, Esq.
                  4115 N. Central Expressway
                  Dallas, TX 75204
                  Tel: (214) 320-0079
                  Fax: (214) 320-2966
                  E-mail: Mark@DallasBankruptcyLawyer.com

Scheduled Assets: $5,398,967

Scheduled Debts: $11,918,756

A list of the Company's 17 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/txeb11-42366.pdf

The petition was signed by James F. Conrow Jr., sole member of
general partner.


36 SOMERSET LANE: Mill Valley Wants Property Put Into Receivership
------------------------------------------------------------------
Gary Klien at the Marin Independent Journal reports that the city
of Mill Valley, California, has filed a lawsuit against a 79-year-
old resident and her nephew, saying their garbage-filled and rat-
infested property poses a health hazard to the neighbors.

The report relates that the lawsuit seeks to put 36 Somerset Lane
into court-ordered receivership so the city can clean up the
property.  The three-bedroom, single-family home is occupied by
Lucille Wong and her 50-year-old nephew, Gar Jow, according to the
city's petition.

In February 2008, the report recalls, after a complaint from a
neighbor, the city investigated the property and found garbage
piled inside and outside the house, a rodent infestation and
"substantial" mold problems, the petition said.  The city cleared
the home for habitation in July 2009.  But soon the neighbors
started to complain again, and subsequent city inspections
revealed, among other things, more accumulated garbage.


785 PARTNERS: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: 785 Partners LLC
        785 Fifth Avenue
        New York, NY 10176

Bankruptcy Case No.: 11-13702

Chapter 11 Petition Date: August 3, 2011

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

Judge: Stuart M. Bernstein

Debtor's Counsel: Andrew K. Glenn, Esq.
                  KASOWITZ, BENSON, TORRES & FRIEDMAN LLP
                  1633 Broadway
                  New York, NY 10019
                  Tel: (212) 506-1747
                  Fax: (212) 506-1800
                  E-mail: aglenn@kasowitz.com

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

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

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

The petition was signed by Kevin O'Sullivan, co-manager.


ABCLD HOLDINGS: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: ABCLD Holdings, LLC
        1750 Valley View Lane, Suite 440
        Dallas, TX 75234

Bankruptcy Case No.: 11-34969

Chapter 11 Petition Date: August 1, 2011

Court: U.S. Bankruptcy Court
       Northern District of Texas (Dallas)

Judge: Barbara J. Houser

Debtor's Counsel: Melissa S. Hayward, Esq.
                  FRANKLIN SKIERSKI LOVALL HAYWARD LLP
                  10501 N. Central Expressway, Suite 106
                  Dallas, TX 75231
                  Tel: (972) 755-7104
                  Fax: (972) 755-7114
                  E-mail: MHayward@FSLHlaw.com

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

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

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

The petition was signed by Craig Landess, vice president.


AEP INVESTMENTS: Case Summary & 3 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: AEP Investments LLC
        dba Ramada Inn of Jasper, Texas
        239 E. Gibson St.
        Jasper, TX 75951

Bankruptcy Case No.: 11-10448

Chapter 11 Petition Date: August 1, 2011

Court: United States Bankruptcy Court
       Eastern District of Texas (Beaumont)

Debtor's Counsel: Samuel L. Milledge, Esq.
                  MILLEDGE LAW FIRM, P.C.
                  10333 Northwest Freeway, Suite 202
                  Houston, TX 77092
                  Tel: (713) 812-1409
                  Fax: (713) 812-1418

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

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

A list of the Company's three largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/txeb11-10448.pdf

The petition was signed by Chhanu Engineer, president.


ALFA MUTUAL: S&P Assigns 'BBpi' Counterparty Credit Rating
----------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BBpi'
counterparty credit and financial strength ratings to Alfa Mutual
Insurance Co. (Alfa Mutual) and Alfa Mutual Fire Insurance Co.
(Alfa Fire).

The ratings reflect both companies' good and adequate risk-based
capital adequacy for the ratings and Alfa Insurance Group's (Alfa
Group) leading personal auto and homeowners' market position in
Alabama. Offsetting these positive factors is the company's
volatile operating performance because of its narrow operating
profile outside its core markets, which makes it more
susceptible to severe weather-related events, competitive market
pressures, and unfavorable changes in regulatory conditions. The
group's capitalization is weaker than in prior years. "In
addition, we view its investment strategy as somewhat aggressive
relative to that of peers," S&P said.

Alfa Mutual and Alfa Fire, affiliates of Alfa Group, have core
product lines in personal auto and homeowners insurance. Alfa
Group ranks as the second-largest personal lines insurance
provider in Alabama, with 18% of the Alabama homeowners market.
Alfa Mutual and Alfa Fire are the largest property/casualty
members of the group in terms of net earned premium, contributing
52% and 30%, respectively, of net earned premium in 2010. Alfa
Group was founded in 1946, and its net earned premium was slightly
more than $1 billion in 2010 spread across 12 states. Of Alfa
Group's direct written premium, 69% was written in Alabama,
followed by Mississippi, Virginia, and Georgia. The concentration
has led to higher property catastrophe losses in recent years.
According to public statements from the company, the severe
tornado activity in late April 2011 is Alfa Group's costliest
ever. As a result, the group is reevaluating its marketing and
underwriting efforts and plans not to renew about one out of every
six homes it insures in Alabama.

Unsolicited ratings are credit ratings assigned at the initiative
of Standard & Poor's and not at the request of the issuer or its
agents. Ratings with a 'pi' subscript are based on an analysis of
an insurer's published financial information and additional
information in the public domain. They do not reflect in-depth
meetings with an insurer's management and are therefore based
on less-comprehensive information than ratings without a 'pi'
subscript. Ratings with a 'pi' subscript are typically reviewed
annually based on the most recently available financial statements
but might be reviewed on an interim basis if a major event occurs
that could affect the insurer's financial security. These ratings
are not subject to potential CreditWatch listings, and they
generally are not modified with "plus" or "minus"
designations.

This unsolicited rating(s) was initiated by Standard & Poor's. It
may be based solely on publicly available information and may or
may not involve the participation of the issuer. Standard & Poor's
has used information from sources believed to be reliable based on
standards established in S&P's Credit Ratings Information and Data
Policy but does not guarantee the accuracy, adequacy, or
completeness of any information used.


ANCHOR BANCORP: Incurs $4.7 Million Net Loss in June 30 Qtr.
------------------------------------------------------------
Anchor Bancorp Wisconsin Inc. filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $4.75 million on $36.11 million of total interest
income for the three months ended June 30, 2011, compared with a
net loss of $12.07 million on $44.37 million of total interest
income for the same period during the prior year.

Anchor Bancorp reported a net loss of $41.18 million on
$85.08 million of net interest income for the fiscal year ended
March 31, 2011, compared with a net loss of $176.91 million on
$84.96 million of net interest income for the fiscal year ended
March 31, 2010.

The Company's balance sheet at June 30, 2011, showed $3.24 billion
in total assets, $3.24 billion in total liabilities, and
$4.99 million of stockholders' equity.

Anchor BanCorp and its wholly-owned subsidiaries, AnchorBank fsb,
each consented to the issuance of an Order to Cease and Desist by
the Office of Thrift Supervision.  The Corporation and the Bank
continue to diligently work with their financial and professional
advisors in seeking qualified sources of outside capital, and in
achieving compliance with the requirements of the Orders.  The
Corporation and the Bank continue to consult with the successors
to the OTS, Federal Reserve, the the Office of the Comptroller of
the Currency and Federal Deposit Insurance Corporation on a
regular basis concerning the Corporation's and Bank's proposals to
obtain outside capital and to develop action plans that will be
acceptable to federal regulatory authorities, but there can be no
assurance that these actions will be successful, or that even if
one or more of the Corporation's and Banks proposals are accepted
by the Federal regulators, that these' proposals will be
successfully implemented.  While the Corporation's management
continues to exert maximum effort to attract new capital,
significant operating losses in fiscal 2009, 2010 and 2011,
significant levels of criticized assets and low levels of capital
raise substantial doubt as to the Corporation's ability to
continue as a going concern.  If the Corporation and Bank are
unable to achieve compliance with the requirements of the Orders,
or implement an acceptable capital restoration plan, and if the
Corporation and Bank cannot otherwise comply with those
commitments and regulations, the OCC or FDIC could force a sale,
liquidation or federal conservatorship or receivership of the
Bank.

As reported by the TCR on July 5, 2011, McGladrey & Pullen, LLP,
in Madison, Wisconsin, expressed substantial doubt about Anchor
Bancorp Wisconsin's ability to continue as a going concern after
auditing the Company's financial results for fiscal year ended
March 31, 2011.  The independent auditors noted that at March 31,
2011, all of the subsidiary bank's regulatory capital amounts and
ratios are below the capital levels required by the consent order.
"The subsidiary bank has also suffered recurring losses from
operations.  Failure to meet the capital requirements exposes the
Corporation to regulatory sanctions that may include restrictions
on operations and growth, mandatory asset dispositions, and
seizure of the subsidiary bank."

A full-text copy of the Form 10-Q is available for free at:

                        http://is.gd/Ag9BVE

                        About Anchor Bancorp

Madison, Wisconsin-based Anchor BanCorp Wisconsin Inc. is a
registered savings and loan holding company incorporated under the
laws of the State of Wisconsin.  The Company is engaged in the
savings and loan business through its wholly owned banking
subsidiary, AnchorBank, fsb.


ANTS SOFTWARE: Issues 2-Mil. Units and Common Shares to Investors
-----------------------------------------------------------------
ANTs software inc., on July 20, 2011, issued 1,000,000 units at
$0.10 per unit, each unit consisting of (i) one share of the
Company's common stock, par value $0.0001 per share and (ii) a
warrant to purchase one share of Common Stock at $0.12 per share,
to an individual investor.

The Company, on July 29, 2011, issued 1,000,000 shares of Common
Stock to Ironridge Global Technology, a division of Ironridge
Global IV, Ltd.

The Ironridge Shares were issued pursuant to a Stipulation for
Settlement of Claims filed by the Company and Ironridge in the
Superior Court for the State of California, County of Los Angeles
on July 29, 2011, in settlement of claims purchased by Ironridge
from certain creditors of the Company in the aggregate amount
equal to $254,634, plus interest, attorneys fees and costs.
Pursuant to the Stipulation, the Company was required to issue and
deliver 5,542,259 shares of Common Stock, including 4,542,259
shares of Common Stock held by Ironridge that were delivered on
July 1, 2011, and previously reported on the Company's Current
Report on Form 8-K, filed on July 6, 2011.

A full-text copy of the Form 8-K is available for free at:

                        http://is.gd/e7965w

                        About Ants Software

ANTs software inc (OTC BB: ANTS) -- http://www.ants.com/-- has
developed a software solution, ACS, to help customers reduce IT
costs by consolidating hardware and software infrastructure and
eliminating cost inefficiencies.  ACS is an innovative middleware
solution that accelerates database consolidation between database
vendors, enabling application portability.

The Company's balance sheet at March 31, 2011, showed
$27.2 million in total assets, $52.3 million in total liabilities,
and a stockholders' deficit of $25.1 million.

As reported in the TCR on April 8, 2011, WeiserMazars LLP, in New
York, expressed substantial doubt about ANTs software's ability to
continue as a going concern, following the Company's 2010 results.
The independent auditors noted that the Company has incurred
significant recurring operating losses, decreasing liquidity, and
negative cash flows from operations.


AREK FRESSADI: Judge Hollowell Dismisses Chapter 11 Case
--------------------------------------------------------
The Sonoran News reports that U.S. Bankruptcy Judge Eileen W.
Hollowell dismissed Arek Fressadi's bankruptcy case, according to
the judge's memorandum decision.

According to the report, Mr. Fressadi filed for Chapter 11
bankruptcy protection immediately after a Maricopa County Superior
Court ruled in favor of M&I Marshall & Ilsley Bank in a judicial
foreclosure action.  However, Mr. Fressadi's plans for
reorganization all utilized collateral no longer his, derived from
his School House Road property, the subject of that judicial
foreclosure.

In her July 15 memorandum decision addressing M&I's motion to
convert Fressadi's case from Chapter 11 to Chapter 7, Judge
Hollowell instead ordered the case dismissed, notes the Sonoran
News.

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


AURASOUND INC: Board Adopts 2011 Stock Incentive Plan
-----------------------------------------------------
The board of directors of Aurasound, Inc., approved and adopted
the Company's 2011 Stock Incentive Plan.

The 2011 Plan is an "omnibus" stock plan consisting of a variety
of equity vehicles to provide flexibility in implementing equity
awards, including incentive stock options, non-qualified stock
options, restricted stock grants and stock appreciation rights.
Participants in the 2011 Plan may be granted any one of the above
equity awards or any combination thereof, as determined by the
Board.  A maximum of 5,000,000 shares of common stock may be
issued and sold under all awards granted under the 2011 Plan.  The
maximum number of shares of common stock with respect to one or
more awards that may be granted to any one participant during any
calendar year shall be 200,000.

The Board may delegate administration of the 2011 Plan to a
committee comprised of no fewer than two members of the Board,
which will have those powers and authority as may be necessary or
appropriate to administer the 2011 Plan.  Any person who is an
employee of or a consultant or other service provider to the
Company or any affiliate thereof, or any person who is a non-
employee director of the Company is eligible to be designated by
the administrator of the 2011 Plan to receive awards and become a
participant under the 2011 Plan.

Unless previously terminated by the Board, the 2011 Plan will
terminate on July 27, 2021, which is the tenth anniversary of the
date of its adoption by the Board.

A full-text copy of the 2011 Stock Incentive Plan is available for
free at http://is.gd/MsvagK

                        About AuraSound, Inc.

Santa Ana, Calif-based AuraSound, Inc. (OTC BB: ARUZE) --
http://www.aurasound.com/-- develops, manufactures, and markets
audio products.  AuraSound's products include TV soundbars, high-
drivers for TVs and laptops, subwoofers, and tactile transducers.

The balance sheet at Dec. 31, 2010, showed $45.59 million in total
assets, $39.79 million in total liabilities, and $5.80 million in
total stockholders' equity.

                           Going Concern

Kabani & Company, Inc., in Los Angeles, expressed substantial
doubt about the Company's ability to continue as a going concern
following the fiscal 2010 results.  The independent auditors noted
that during the year ended June 30, 2010, the Company incurred a
net loss of $2.2 million, and had negative cash flow from
operating activities of $202,383.

As of Dec. 31, 2010, the Company has an accumulated deficit of
$36,937,503, negative working capital of $4,716,502 and has
reported significant losses over the past several years.  During
the six-month period ended Dec. 31, 2010 the Company recorded a
net income of $1,014,895 and had net cash provided by operating
activities of $627,713.  According to the Form 10-Q for the
quarter ended Dec. 31, 2010, "The move to profitability and
positive cash flow is a directly result of the execution of new
management's post acquisition business plan to cut costs on all
business lines, hold and spread overhead costs against a larger
revenue base and to continue to move toward sustained
profitability.  However, there can be no assurance that the
Company can sustain profitability or positive cash flows from
operations.  As such, if the Company is unable to generate
positive net income and unable to continue to obtain financing for
its working capital requirements, it may have to curtail its
business sharply or cease business altogether."


BARREL STOP: Dominari Winery Files for Chapter 11
-------------------------------------------------
Barrel Stop Winery LLC, which has sought for Chapter 11
protection, is the owner of a 23,000-square-foot winery and
custom-crush facility on Trancas Street, in Napa Valley,
California, according to reporting by Jennifer Huffman at Napa
Valley Register.

According to the report, Barrel Stop, doing business as Dominari
Winery, seems to have struggled with loans and other debts.  In
January, a $3.3 million loan for Barrel Stop Winery was in
foreclosure.  During that same month, a Napa family protested
outside the winery entrance.

Of the 85 Barrel Stop Winery creditors listed in the filing, top
creditors include a number of Napa growers, including Peggy
Piccolo, Debbie Williams and Don Buhman, who are owed tens of
thousands of dollars.  The largest creditor is vendor Peju
Province Winery, owed $114,185.  The IRS is also listed as a
creditor, with Barrel Stop Winery owing $32,186.

Barrel Stop Winery, LLC, filed a Chapter 11 petition (Bankr. N.D.
Calif. Case No. 11-12824) on July 28, 2011, with Judge Alan
Jaroslovsky presiding over the case.  Michael C. Fallon, Esq., in
Santa Rosa, California, serves as counsel to the Debtor.  The
Debtor estimated up to $10 million in assets and $1 million to
$10 million in liabilities.


BERNARD L MADOFF: JPM, UBS Seek Dismissal of $20.6-Bil. Suits
-------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that JPMorgan Chase & Co. filed papers Aug. 2 asking U.S.
District Judge Colleen McMahon to dismiss the $19 billion lawsuit
filed by the trustee liquidating Bernard L. Madoff Investment
Securities Inc.  UBS AG, based in Zurich, filed dismissal papers
of its own in which it bootstraps on the briefs filed by New York-
based JPMorgan, according to the report.

Mr. Rochelle relates that JPMorgan relied on a ruling last week by
another federal district judge, Jed Rakoff, who filed a 26-page
opinion concluding that the Madoff trustee doesn't have the right
to file claims based on state law that belong to Mr. Madoff's
customers individually.  JPMorgan argued, among other things, that
the complaint doesn't show the bank had "actual knowledge" that
Madoff was a fraud.

Under a schedule previously set down by Judge McMahon, the trustee
will answer Sept. 1, allowing the bank to submit reply papers
Sept. 16.

According to the report, Judge McMahon said she would also decide
threshold issues in the $2.6 billion lawsuit against UBS in which
the Madoff trustee contends that the Swiss bank looked the other
way after seeing red flags indicating Madoff's firm might have
been a scam.  The UBS suit is on the same schedule with McMahon.

                     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.


BIONOL CLEARFIELD: Trustee Seeks Cash to Maintain Ready Status
--------------------------------------------------------------
Dow Jones' DBR Small Cap reports that Bionol Clearfield LLC's
bankruptcy trustee is seeking court approval to keep the
Pennsylvania ethanol plant in ready mode until he can find a buyer
and close a sale.

Bionol Clearfield filed for Chapter 7 liquidation (Bankr. D. Del.
Case No. 11-_____) in July 2011.  The Company estimated assets
between $50 million and $100 million and liabilities between $100
million and $500 million.  The Company owns a plant that produces
bio-based chemicals and fuels from renewable feedstock.


BLACK RAVEN: Acquires 80% Working Interest in Adena Field
---------------------------------------------------------
Black Raven Energy, Inc., completed the purchase of an 80% working
interest in the Adena Field, consisting of 18,760 gross acres in
Morgan County, Colorado, for a purchase price of $15.75 million.
The Company will operate the field.  The Company has entered into
an agreement with a strategic partner which will provide
geological, engineering, and management services associated with
this project and will earn 24% of the Company's working interest
after payout of all costs, including financing.

The Adena Field produces oil from a waterflood in the J sand and
conventionally from the D sand.  The Company estimates that the
proved and probable oil reserves associated with this field are in
excess of 3 million barrels from both formations.  In addition, a
gas cap in the J sand is estimated to hold more than 3 billion
cubic feet of recoverable natural gas.  Having produced 75 million
barrels of oil equivalent from the J sand since its discovery in
1953, the Adena Field is one of the most prolific oil fields in
the history of the D-J Basin.  The majority of this field was
abandoned during the mid 1980's after oil prices collapsed, and
only a small portion has been re-activated.  The Company intends
re-activate the J sand waterflood and exploit the D sand, which
has been largely untapped.

Black Raven's CEO, Thomas E. Riley, commented, "We are very
pleased to complete this acquisition.  We have been working on
this for several months, and have been very pleasantly surprised
at the wealth of opportunities presented by this acquisition.  For
a small company with a great technical staff, this field will
provide growth in oil and natural gas production for the
foreseeable future."

The acquisition was financed by Carlyle Energy Mezzanine
Opportunities Fund, New York, New York.  The Company was advised
on the acquisition and financing by Stifel Nicolaus Weisel.

                         About Black Raven

Denver, Colo.-based Black Raven Energy, Inc., formerly known as
PRB Energy, Inc., currently operates as an independent energy
company engaged in the acquisition, exploitation, development and
production of natural gas and oil in the Rocky Mountain Region of
the United States.  On Feb. 2, 2009, in connection with its
emergence from bankruptcy, PRB Energy changed its corporate name
to Black Raven Energy, Inc.

On March 5, 2008, PRB Energy, Inc. and its subsidiaries filed
voluntary petitions for relief under Chapter 11 of the Bankruptcy
Code in the U.S. Bankruptcy Court for the District of Colorado.
On Jan. 16, 2009, the Bankruptcy Court entered an order confirming
PRB Energy reorganization plan.  The Plan became effective Feb. 2,
2009.

The Company reported a net loss of $3.26 million on $469,000 of
total revenue for the year ended Dec. 31, 2010, compared with net
income of $20.71 million on $460,000 of total revenue during the
prior year.

The Company's balance sheet at March 31, 2011, showed
$14.51 million in total assets, $24.36 million in total
liabilities, and a $9.85 million total stockholders' deficit.

As reported by the TCR on April 21, 2011, Deloitte & Touche LLP,
in Denver, Colorado, noted that the Company's recurring losses
from operations and stockholders' deficit raise substantial doubt
about its ability to continue as a going concern.


BUILDER'S CONCRETE: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Builder's Concrete, Inc.
          dba Aggieland Ready Mix Co.
          fka Central Equipment, Inc.
        1391 Arrington Road
        College Station, TX 77845

Bankruptcy Case No.: 11-36600

Chapter 11 Petition Date: August 1, 2011

Court: U.S. Bankruptcy Court
       Southern District of Texas (Houston)

Judge: Jeff Bohm

Debtor's Counsel: Guillermo Jorge Ochoa-Cronfel, Esq.
                  THE CRONFEL LAW FIRM
                  2700 Bee Cave Road, Suite 103
                  Austin, TX 78741
                  Tel: (512) 347-9600
                  E-mail: gjocronfel@gmail.com

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

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/txsb11-36600.pdf

The petition was signed by Ronal Calvin, president.

Affiliate that filed separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Ronald Calvin                         11-34908            06/06/11


BXP 1: Aims Full Payment of Secured Lender & Unsecured Claims
-------------------------------------------------------------
BXP 1, LLC, filed with the U.S. Bankruptcy Court for the Southern
District of New York a plan of reorganization and disclosure
statement dated June 23, 2011.

The Plan is predicated on a private sale of the Debtor's six
apartment buildings to its lender.  Lender affiliates or their
designees will assume the Lender's mortgages on the properties.
The balance of the purchase price will be paid in cash on the
payment date.  Confirmation of the Plan will precede the actual
transfer of the Properties.  The total purchase price for the sale
of the Debtor's Properties is 19,775,211, broken down as:

     1268 Statford                $5,191,879
     1350-52 University           $3,205,176
     1585 East 172nd St.          $3,728,569
     1589-91 East 172nd St.       $4,776,865
     1636-40 University           $4,519,135

Each property appeared to be encumbered by a mortgage in favor of
various affiliate lenders as well as statutory liens in favor of
the City of New York.

In the absence of the Lender's agreement, it is extremely unlikely
that there would be a material distribution to creditors or the
equity holder, let alone payment in full in cash with interest to
all creditors plus a substantial distribution to equity.

The Plan also provides for the treatment of various claim and
interests:

Class 1 Secured New York Claim   To be paid in full with interest

Class 2 Lender's Mortgage Claim  Will receive payment of the cash
                                  portion of the sale proceeds on
                                  the Plan Effective Date, less
                                  the amounts necessary to pay
                                  entitled to Class 1 Claims.

Class 3 Rosenberg & Pittinsky    To be paid $49,000.  The
         LLP Secured Judgment     remainder of the amount due
         Claim                    for $32,686 will be treated
                                  as a Class 5 Claim

Class 4 Priority Claims          To be paid in full in cash
                                  plus interest.

Class 5 Unsecured Claims         To be paid in full plus
                                  interest.

Class 6 Equity Holders           To be entitled to such surplus
                                  as may be available on the
                                  payment date after payment of
                                  Administration Claims, Class 3,
                                  Class 4 and Class 5 Claims under
                                  the Plan.

Administrative expense claims will be also be paid in full.

Before the Confirmation Hearing, the Lender will escrow %554,472
with the Debtor's counsel to be disbursed to Administration
Claims, Class 4 and 5 creditors and the Office of the U.S. Trustee
under the Plan.

The Confirmation hearing and hearing on the approval of the
Disclosure Statement on Aug. 10, 2011, at 10:00 a.m.

A copy of the Disclosure Statement is available for free at:

          http://bankrupt.com/misc/BXP1_DiscStm.pdf

                         About BXP 1 LLC

Porter Ranch, California-based BXP 1 LLC owns six apartment
buildings in the Bronx, New York.  On July 13, 2010, Angela Ortiz
was appointed as receiver of the Debtor's real property.

The Debtor filed a Chapter 11 bankruptcy protection (Bankr.
S.D.N.Y. Case No. 10-15608) on Oct. 27, 2010.  Backenroth Frankel
& Krinsky, LLP, represents the Debtor in the Chapter 11 case.
According to its schedules, the Debtor disclosed $19,356,812 in
total assets and $13,931,125 in total debts as of the Petition
Date.

In June 2011, the Debtor and 1636-40 Universe Debt LLC, the
lender, reached a stipulation consenting to the receiver's
continued control of the property and the receiver's retention of
Sally E. Unger, Esq. at Kossoff & Unger, as her counsel.


C&H ARIZONA: In Talks With Lender, Seeks Case Dismissal
-------------------------------------------------------
C&H Arizona-Stucky, LLC, asks the U.S. Bankruptcy Court for the
District of Arizona to dismiss its Chapter 11 case because its
property in Arizona "no longer produces income" and that it is
unable to present a confirmable plan of reorganization.  There is
no reasonable likelihood of rehabilitation through the Chapter 11
process, the Debtor relates.

The Debtor informs the Court that it is in negotiations with a
third party that, if a final deal is reached, will enable the
Debtor to retain the property and pay the secured debt (less
default interest and late fees).

Details of the foregoing negotiations were not disclosed.

                   About C&H Arizona-Stucky, LLC

Walnut Creek, California-based C&H Arizona-Stucky, LLC, is the
owner and current operator of a 113,071 square feet retail
shopping center located at 15440 North Scottsdale Road,
Scottsdale, Arizona.  As of the Petition Date, the entirety of the
real property was leased to Robb & Stucky, LTD ("R&S") as a free
standing furniture store.  R&S filed chapter 11 on Feb. 18, 2011,
and rejected the R&S lease with the Debtor effective June 30,
2011.  The property is now vacant and produces no income.

The Company filed for Chapter 11 bankruptcy protection (Bankr. D.
Ariz. Case No. 10-21165) on July 7, 2010.  Edwin B. Stanley, Esq.,
at Simbro & Stanley, PLC, in Scottsdale, Ariz., represents the
Debtor as counsel.  The Company disclosed $18,064,966 in assets
and $9,167,574 in liabilities as of the Petition Date.


CALVARY TEMPLE: To Present Plan for Confirmation Plan Aug. 18
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Georgia
approved last month the disclosure statement explaining Calvary
Baptist Temple's proposed Chapter 11 plan, as amended June 10,
2011 and originally filed in February.

The Court set Aug. 11, 2011, as the deadline for the filing of
written acceptances or rejections of the Plan.  A hearing on
confirmation of the Plan is scheduled for Aug. 18, 2011, at 11:00
a.m.

In the event counsel for the Debtor fails to appear, or if the
Plan is not confirmed at the Aug. 18 hearing, a hearing will be
held to determine whether the case should be dismissed or
converted to Chapter 7.

According to the Disclosure Statement, which was amended June 15,
2011, general unsecured claims will be paid in full on or before
12 months from the effective date with interest from the effective
date at a rate of 3% simple.

A copy of the Chapter 11 Plan is available at http://is.gd/oKoxy7

                   About Calvary Baptist Temple

Headquartered in Savannah, Georgia, Calvary Baptist Temple owns
and operates a Baptist church on Waters Avenue in Savannah,
Chatham County, Georgia.  Calvary Baptist filed for Chapter 11
bankruptcy protection (Bankr. S.D. Ga. Case No. 10-40754) on
April 6, 2010.  C. James McCallar, Jr., Esq., and Tiffany E.
Caron, Esq., at McCallar Law Firm, in Savannah, Ga., represent the
Debtor as counsel.  In its schedules, the Debtor disclosed
$45,831,534 in assets and $19,894,823 in debts as of the Petition
Date.


CANTERA COURT: Case Summary & 2 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Cantera Court Complex, Inc.
        aka BMW Creative Homes
        9802 McPherson Rd., Suite 136
        Laredo, TX 78045

Bankruptcy Case No.: 11-50178

Chapter 11 Petition Date: August 1, 2011

Court: United States Bankruptcy Court
       Southern District of Texas (Laredo)

Judge: Richard S. Schmidt

Debtor's Counsel: Adolfo Campero, Jr., Esq.
                  CAMPERO & ASSOCIATES, P.C.
                  315 Calle Del Norte, Suite 207
                  Laredo, TX 78041
                  Tel: (956) 796-0330
                  Fax: (956) 796-0399
                  E-mail: acampero@cblawfirm.net

Scheduled Assets: $5,210,036

Scheduled Debts: $5,668,862

A list of the Company's two largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/txsb11-50178.pdf

The petition was signed by Hector Benavides, Sr., president.


CAPTAIN VAN DYKE: Confirmation Denied; Case Dismissed
-----------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida
dismissed the Chapter 11 cases of Captain Van Dyke Trust and
Treasure Chest, LLC, for cause.  The motion was filed by secured
creditor SFI Belmont LLC, as successor-in-interest to iStar FM
Loans LLC.

In its dismissal order entered July 12, 2011, the Court finds that
there is no reasonable likelihood that a plan will be confirmed.
Accordingly, and for the reasons stated orally on the record in
open court on June 29, 2011, the cases were dismissed effective
immediately.

On July 7, 2011, the Bankruptcy Court denied, for the reasons
stated orally in open court on June 29, confirmation of the
Debtors' Chapter 11 Plan of Reorganization.

The Plan proposed by the Debtor provides for a 100% distribution
to its secured creditor with interest of over five years, a 90%
distribution to mechanics lien claims within one year, and a 90%
distribution to its unsecured creditors over five years.

In July the bankruptcy court entered an order granting the Debtor
access to cash collateral "through the date on which the Court
enters an order dismissing the Debtors' Chapter 11 cases, at which
time the authority to use cash collateral will immediately
terminate."

                      About Captain Van Dyke

Saint Petersburg, Florida-based Captain Van Dyke Trust, dba Van
Dyke Commons, aka Van Dyke Shopping Center, filed for Chapter 11
bankruptcy protection (Bankr. M.D. Fla. Case No. 10-14973) on
June 23, 2010.  Russell M. Blain, Esq., Stephen R. Leslie, Esq.,
and Barbara A. Hart, Esq., at Stichter, Riedel, Blain & Prosser,
in Tampa, Fla., assist the Debtor in its restructuring effort.
Verona Law Group, P.A. serves as the Company's Special Landlord/
Tenant Counsel.  Michael Healy and Michael Moecker & Associates
serve as the Company's Expert Witness.  In its schedules, the
Debtor disclosed $34,072,649 in assets and $31,963,661 in debts as
of the Petition Date.

Affiliate Saint Petersburg, Florida-based Treasure Chest, LLC,
filed for Chapter 11 bankruptcy protection on June 23, 2010
(Bankr. M.D. Fla. Case No. 10-14976).  In its schedules, Treasure
Chest disclosed $0 assets and liabilities of $31,339,831 as of the
petition date.

The two cases are jointly administered under Case No. 10-14973.


CATALYST PAPER: Incurs $47.4 Million Net Loss in Second Quarter
---------------------------------------------------------------
Catalyst Paper posted a net loss of $47.4 million ($0.13 per
common share) on sales of $297.8 million during the second quarter
of 2011.  The net loss increased from $12.9 million ($0.03 per
common share) on sales of $303.6 million during the first quarter,
due to reduced production and increased maintenance spending.
Production at the Powell River and Snowflake mills was affected by
extended maintenance downtime and further hampered by fires at
both mills during the quarter.  A stronger Canadian dollar and
higher fibre prices also negatively affected results.

"We took steps to address mill productivity and to strengthen our
order book in the face of very challenging currency and market
conditions," said President and CEO Kevin J. Clarke.  "While our
pulp business performed well in the quarter, the unforeseeable
factor of fires at two mills hurt paper production and sales in
what we had already indicated would be a heavy scheduled-
maintenance quarter."

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

                       About Catalyst Paper

Catalyst Paper -- http://www.catalystpaper.com/-- manufactures
diverse specialty mechanical printing papers, newsprint and pulp.
Its customers include retailers, publishers and commercial
printers in North America, Latin America, the Pacific Rim and
Europe.  With four mills, located in British Columbia and Arizona,
Catalyst has a combined annual production capacity of 1.9 million
tons.  The Company is headquartered in Richmond, British Columbia,
Canada and its common shares trade on the Toronto Stock Exchange
under the symbol CTL.

The Company posted a net loss of C$398.2 million on sales of
C$1.229 billion during 2010.  The Company's net loss in 2009 was
C$5.6 million on sales of C$1.224 billion.

The Company's balance sheet at March 31, 2011, showed
C$1.64 billion in total assets, C$1.25 billion in total
liabilities, and C$389.60 million in equity.

                           *     *     *

Catalyst Paper carried Moody's Investors Service's 'Caa1'
corporate family rating.  Outlook in Negative.  The Company also
carries Standard & Poor's CCC+ long-term corporate credit rating,
Outlook is Stable.


CAVIATA ATTACHED: Case Summary & 5 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Caviata Attached Homes, LLC
        P.O. Box 17980
        Reno, NV 89511

Bankruptcy Case No.: 11-52458

Chapter 11 Petition Date: August 1, 2011

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

Judge: Bruce T. Beesley

Debtor's Counsel: Alan R. Smith, Esq.
                  THE LAW OFFICES OF ALAN R. SMITH
                  505 Ridge St.
                  Reno, NV 89501
                  Tel: (775) 786-4579
                  E-mail: mail@asmithlaw.com

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

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

The petition was signed by William D. Pennington, II, member of
Caviata 184, LLC.

Debtor's List of five Largest Unsecured Creditors:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
California National Bank  950 Henry Orr          $27,476,633
c/o Assignee U.S. Bank    Parkway,
Joshua D. Wayser, Esq     Sparks, NV 89436
2029 Century Park East
Los Angeles, CA 90067

Fallen Leaf Attached      Monies Loaned          $7,128,533
Homes, LLC
c/o Assignee Specialty
Acquisition Corp.
8700 Technology Way
Reno, NV 89521

Specialty Mortgage,      950 Henry Orr           $6,217,641
Corp.                    Parkway,
c/o Assignee VCH         Sparks, NV 89436
Capital Investments, LLC
2908 Fox Hill Drive
Rocklin, CA 95765

Sierra Summit Landscape  Landscaping-Goods/      $25,100
18724 Wedge Pkwy,#418    Services
Reno, NV 89511

Fisher, J. Frank         Accountant-             $13,500
9437 Double Diamond #17  Goods/Services
Reno, NV 89521


CB HOLDINGS: Files Liquidating Chapter 11 Plan
----------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the former operator of Charlie Brown's Steakhouse
restaurants filed a liquidating Chapter 11 plan this week along
with an explanatory disclosure statement.  The hearing for
approval of the disclosure statement is scheduled for Sept. 9.

According to the report, the Plan in essence distributes proceeds
from sales of the businesses in accordance with priorities in
bankruptcy law.  That is, financing for the Chapter 11 case will
be paid in full, with remaining proceedings going to the first
lien-lenders, and then to the second-lien creditors. The remainder
will go to a trust for unsecured creditors.  The first- and
second-lien lenders aren't waiving their deficiency claims.
Consequently, they will share with general unsecured creditors.

Mr. Rochelle notes that the disclosure statement doesn't tell
secured or unsecured creditors how much they can expect.  At
present, there's a blank in the disclosure statement where the
total amount of unsecured debt will be inserted later.

                       About CB Holding

New York-based CB Holding Corp. operated 20 Charlie Brown's
Steakhouse, 12 Bugaboo Creek Steak House, and seven The Office
Beer Bar and Grill restaurants when it filed for bankruptcy
protection.  The Company closed 47 locations before filing for
Chapter 11.

CB Holding sold off its The Office restaurant chain and 12 Bugaboo
Creek stores in separate auctions.  Villa Enterprises Ltd. won the
bidding for The Office chain with its $4.68 million.  RRGK LLC
acquired the 12 Bugaboo Creek stores for $10.05 million, more than
tripling the $3.175 million first bid from an affiliate of
Landry's Restaurants Inc.  Forty-seven stores were closed before
the Chapter 11 filing in November.

CB Holding and its affiliates filed for Chapter 11 bankruptcy
protection (Bankr. D. Del. Case No. 10-13683) on Nov. 17, 2010.
Christopher M. Samis, Esq., and Mark D. Collins, Esq., at
Richards, Layton & Finger, P.A., assist the Debtors in their
restructuring effort.  The Garden City Group, Inc., is the
Debtors' notice, claims and solicitation agent.  Jeffrey N.
Pomerantz, Esq., Jason S. Pomerantz, Esq., and Bradford J.
Sandler, Esq., at Pachulski Stang Ziehl & Jones LLP, represent the
Official Committee of Unsecured Creditors.  CB Holding estimated
its assets at $100 million to $500 million and debts at
$50 million to $100 million.


CENTRAL MUTUAL: S&P Assigns 'BBpi' Counterparty Credit Rating
-------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BBpi'
counterparty credit and financial strength ratings to Central
Mutual Insurance Co. (Central Mutual) and its affiliate, All
America Insurance Co. (All America).

Both companies and CMI Lloyds (unrated) are members of the Central
Insurance Companies group. Central Mutual assumes all premium,
losses, and expenses from CMI Lloyds. "Central Mutual and All
America participate in an interaffiliate pooling agreement, and we
therefore rate them as a group," S&P related.

The ratings reflect the pool's decreasing operating performance
over the past five years and underwriting losses over the past
three years (2008-2010), which can be primarily attributed to an
uptick in weather-related catastrophe losses net of reinsurance
compared with prior years. In 2010, two significant hail storms
generated nearly $30 million of losses, and as a result, total
catastrophe losses (net of reinsurance) almost doubled in 2010
compared with 2009. A significant amount of its business is
concentrated in the catastrophe-prone East Coast and Midwest,
which makes it more susceptible to severe weather-related events.
Its largest states are Texas (19% of direct written premium in
2010), followed by Ohio (15%) and North Carolina (12%). "We expect
Central Mutual and All America to be affected by the 2011 winter
storms and April and May tornados and storm activity," S&P
related.

Somewhat offsetting these negative factors are the group's good
capitalization and good diversification by state and line of
business. In addition, its net investment income has been stable,
and it has a liquid investment portfolio with 95% of invested
assets in bonds, marketable stocks, cash, and short-term
investments.

Central Mutual is the largest member of Central Insurance
Companies group (84% of total group net premium earned of about
$500 million in 2010). The group is based in Van Wert, Ohio, and
was founded in 1876 (originally named Van Wert County Mutual Fire
Insurance Co.). The group mainly provides personal lines
homeowners and personal auto coverage and some commercial lines
multi-peril insurance.

Unsolicited ratings are credit ratings assigned at the initiative
of Standard & Poor's and not at the request of the issuer or its
agents. Ratings with a 'pi' subscript are based on an analysis of
an insurer's published financial information and additional
information in the public domain. They do not reflect in-depth
meetings with an insurer's management and are therefore based
on less-comprehensive information than ratings without a 'pi'
subscript. Ratings with a 'pi' subscript are typically reviewed
annually based on the most recently available financial statements
but might be reviewed on an interim basis if a major event occurs
that could affect the insurer's financial security. These ratings
are not subject to potential CreditWatch listings, and they
generally are not modified with "plus" or "minus" designations.

This unsolicited rating(s) was initiated by Standard & Poor's. It
may be based solely on publicly available information and may or
may not involve the participation of the issuer. Standard & Poor's
has used information from sources believed to be reliable based on
standards established in S&P's Credit Ratings Information and Data
Policy but does not guarantee the accuracy, adequacy, or
completeness of any information used.


CFRI/GREENLAW: Wants Plan Filing Deadline Extended to Nov. 18
-------------------------------------------------------------
CFRI/Greenlaw Dyer Road,LLC, is asking the U.S. Bankruptcy Court
for the Central District of California to extend its exclusive
periods for filing a Chapter 11 plan and gaining acceptance for
that plan until Nov. 18, 2011, and Jan. 20, 2012, respectively.

The Debtor tells the Court that it is hopeful that it will be able
to propose and seek confirmation of a Chapter 11 plan of
reorganization no later than Nov. 18, 2011.

The Debtor also asks the Court to extend the date by which the
Debtor will serve notice to pre-petition creditors advising of the
bar date for approximately 90 days through and including Nov. 18,
2011.

In its third motion for an exclusivity extension, filed July 15,
2011, the Debtor cited that since the approval of the global
settlement agreement with U.S. Bank, N.A., on Oct. 12, 2010, it
has devoted its time and efforts to: (1) resolving outstanding
disputes with tenants and creditors, (2) resolving outstanding
issues with U.S. Bank and FDIC, as receiver, regarding amounts
owed to creditors, (3) negotiating a settlement with U.S. Bank
over the Property Tax Refund and obtaining court approval of the
resulting settlement, (4) analyzing possible avoidance claims,
including preferences and fraudulent transfers, (5) investigating
outstanding accounts receivable amounts, (6) providing the proper
administration of the Debtor's bankruptcy estate, and (7)
complying with Chapter 11 requirements.

                About CFRI/Greenlaw Dyer Road, LLC

Santa Ana, California-based CFRI/Greenlaw Dyer Road, LLC, is a
Delaware limited liability company that was formed on June 25,
2007.  Its principal asset is a commercial building located at
2001 East Dyer Road, Santa Ana, CA 92705, which consists of
approximately 366,471 square feet of industrial space, including
office and data center uses, located on 19.1 acres of land.

CFRI/Greenlaw filed for Chapter 11 bankruptcy protection (Bankr.
C.D. Calif. Case No. 10-19345) on July 8, 2010.  Howard J.
Weg, Esq., David B. Shemano, Esq., and Lorie Ball, Esq., at
Peitzman, Weg & Kempinsky LLP, in Los Angeles, serve as the
Debtor's bankruptcy counsel.  The Debtor disclosed $30,101,904 in
total assets and $33,610,022 in total liabilities.


CHANNELSIDE CINEMAS: Files for Chapter 11 Bankruptcy Protection
---------------------------------------------------------------
Tampa, Florida-based Channelside Cinemas, Inc., filed a Chapter 11
petition (Bankr. M.D. Fla. Case No. 11-14761) in its hometown on
Aug. 3, 2011, estimating assets and debts of up to $10 million.

Tampabay.com reports that Channelside Cinemas is the company that
runs the IMAX theater in the Channel District.

The Web site notes that Several businesses have left the
Channelside Bay Plaza or been evicted in the past two years.
Owners of former attractions blamed their struggles on a down
economy and a significant decrease in traffic, the report notes.

Among the cinema's creditors are Bank of America, Channelside Bay
Mall and the Florida Department of Revenue.


CINRAM INT'L: Cut to 'CCC' as S&P Warns of Loan Breach
------------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term corporate
credit rating on Cinram International Inc. to 'CCC' from 'B-'.

"At the same time, we lowered our rating on the company's first-
lien 'first-out' senior secured revolving credit facility to 'B-'
from 'B+'. In addition, we lowered our ratings on Cinram's first-
lien senior secured term loan and first-lien senior secured
revolving credit facility to 'CCC' from 'B-'. We also lowered our
rating on Cinram's second-lien senior secured mandatorily
exchangeable term loan to 'CC' from 'CCC'. The recovery ratings
are unchanged," S&P related.

Finally, Standard & Poor's placed all of its ratings on Cinram on
CreditWatch with negative implications.

"These rating actions follow Cinram's announcement of weaker-than-
expected operating performance in the second quarter ended June
30, 2011, which resulted in management's expectation that the
company will not be in compliance with its financial covenants,
including the leverage and interest coverage covenants, for the
second quarter and future periods," said Standard & Poor's credit
analyst Lori Harris. "If the company does not receive an amendment
to its credit agreements to comply with the financial covenants,
Cinram would be in default under the agreements," Ms. Harris
added.

The ratings reflect Cinram's vulnerable business risk profile and
much weaker-than-expected operating performance, which has
resulted in the company's need to seek covenant relief.
"Furthermore, the ratings reflect our significant concerns about
poor industry fundamentals, including the ongoing decline in both
volume and pricing. Cinram is a leading manufacturer of
prerecorded multimedia products. However, this position has
weakened over the years because of digital substitution and the
corresponding maturity of Cinram's products," S&P related.

The company is engaged in lender negotiations to loosen financial
covenants, including its leverage and interest coverage covenants.
Failure to receive an amendment to its credit agreements enabling
Cinram to remain in compliance with covenants would result in an
event of default under the agreements.

"The ratings on Cinram will remain on CreditWatch with negative
implications until we have further clarity about lender
negotiations regarding the amendment and about Cinram's expected
operating performance for the year. Our analysis will include a
review of recovery prospects in the event of default," S&P said.


CLEAN AND BURN: Has Cash to Pay Trailing Expenses
-------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of North
Carolina entered its sixth interim order pertaining to Clean Burn
Fuels LLC's use of cash collateral in which Cape Ferm Credit, ACA,
for itself or as agent/nominee for other lending institutions,
asserts a first priority security interest and lien.

At the hearing on July 12, 2011, counsel for the Debtor advised
the Court that the use of cash collateral after July 17, 2011, was
not requested at this time, except to the extent already
authorized by the prior orders for payment of "permitted trailing
expenses."

In an order entered July 15, 2011, the Court authorized the Debtor
to access cash collateral on an interim basis.  The Court's order
provided that access collateral will terminate as of July 18,
2011, except to the extent already authorized by the prior orders
and the July 15 order.

A hearing to consider entry of final approval of the use of cash
collateral is scheduled for 10:00 o'clock a.m. on Sept. 6, 2011.

                         About Clean Burn

Clean Burn Fuels LLC, a North Carolina limited liability company
founded in 2005, is the first company to produce ethanol in North
Carolina.  It completed the construction of its ethanol plant in
August of 2010 and started producing and selling ethanol and dried
distillers grains with solubles (DDGS) shortly thereafter.

Clean Burn filed for Chapter 11 bankruptcy protection (Bankr.
M.D.N.C. Case No. 11-80562) on April 3, 2011.  John A. Northen,
Esq., and Vicki L. Parrot, Esq., at Northen Blue, L.L.P.,
represent the Debtor.

In its schedules of assets and liabilities, the Company disclosed
$79,516,062 in assets and $79,218,681 in liabilities.  The
schedules valued its ethanol plant at $72,000,000, securing at
$66,225,571 claim by a lender.

The Official Committee of Unsecured Creditors is represented by
Charles M. Ivey, III, Esq., at Ivey McClellan Gatton & Talcott,
LLP, in Greensboro, North Carolina.

As reported in the TCR on July 7, 2011, the Bankruptcy Court
allowed Cape Fear Farm Credit to initiate foreclosure and have the
Debtor's plant taken over by a receiver in the meantime.  Cape
Fear Farm Credit asked Judge Thomas W. Waldrep, Jr., to lift the
automatic stay to permit the Lender to exercise its rights against
all of Clear Burn Fuels' assets, including the Debtor's ethanol
plant located in Hoke County, North Carolina.


COASTAL DINING: Case Summary & 10 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Coastal Dining One, Inc.
          dba Max and Erma's
        1004 Glenforest Road
        Myrtle Beach, SC 29579-1254

Bankruptcy Case No.: 11-04830

Chapter 11 Petition Date: August 1, 2011

Court: U.S. Bankruptcy Court
       District of South Carolina (Charleston)

Judge: David R. Duncan

Debtor's Counsel: Robert G. Sable, Esq.
                  LAW OFFICE OF MICHAEL W. MOGIL, PA
                  2 Corpus Christie Place, Suite 303
                  Hilton Head Island, SC 29928
                  Tel: (843) 785-8110
                  E-mail: rsable@mogillaw.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 10 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/scb11-04830.pdf

The petition was signed by Frank S. Sicilia, president.


COMERICA HOTELS: Case Summary & 5 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Comerica Hotels LLC
        aka Country Inn & Suites
        600 San Gabriel Village Blvd
        Georgetown, TX 78626

Bankruptcy Case No.: 11-11933

Chapter 11 Petition Date: August 1, 2011

Court: United States Bankruptcy Court
       Western District of Texas (Austin)

Judge: Craig A. Gargotta

Debtor's Counsel: David K. Sergi, Esq.
                  DAVID K. SERGI & ASSOCIATES, P.C.
                  329 S Guadalupe St., P.O. Box 887
                  San Marcos, TX 78667
                  Tel: (512) 392-5010
                  Fax: (512) 392-5042
                  E-mail: ecfnotice@sergilaw.com

Scheduled Assets: $2,300,001

Scheduled Debts: $4,357,621

A list of the Company's five largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/txwb11-11933.pdf

The petition was signed by Bimal Daftary, manager.


CORDIA COMMS: Bingham McCutchen Ok'd as Telecommunications Attys.
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida has
approved Cordia Communications Corp.'s application to employ
Bingham McCutchen LLP as special telecommunications counsel.

                    About Cordia Communications

Cordia Corporation -- through its operating subsidiaries, Cordia
Communications Corp., CordiaIP Corp., My Tel Co, Inc., Northstar
Telecom, Inc., Cordia Prepaid Corp., and Cordia International
Corp. -- offers business, residential, and wholesale customers
local and long distance telecommunications services in more than
60 countries utilizing traditional wireline and Voice over
Internet Protocol -- VoIP -- technologies.  CCC holds licenses to
operate in 28 states throughout the contiguous United States, and
CCCVA is licensed in Virginia.

Winter Garden, Florida-based Cordia Communications Corp., along
with affiliates, filed for Chapter 11 bankruptcy protection
(Bankr. M.D. Fla. Lead Case No. 11-06493) on May 1, 2011.
The Debtor estimated its assets and debts at $10 million to
$50 million.  Scott L. Baena, Esq., at Bilzin Sumberg Baena Price
& Axelrod LLP, serves as the Debtors' bankruptcy counsel.  Source
Capital Group, Inc., serves as investment banker.  Development
Specialists, Inc., is providing restructuring and management
services, including Joseph J. Luzinski as chief restructuring
officer.

Cordia Communications Inc. was authorized in July 2011 to sell the
business to Birch Communications Inc.  For Birch to take over a
contract with Verizon Communications Inc., Verizon must be paid
$4.4 million, according to the order approving the sale.


COREPLUS LLC: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: CorePlus, LLC
        9450 Sunset Drive
        Miami, FL 33173

Bankruptcy Case No.: 11-31611

Chapter 11 Petition Date: August 1, 2011

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

Judge: Robert A. Mark

Debtor's Counsel: Lynn H Gelman, Esq.
                  LYNN H. GELMAN, P.A.
                  1450 Madruga Ave #302
                  Coral Gables, FL 33146
                  Tel: (305) 668-6681
                  Fax: (305) 668-6682
                  E-mail: lynngelman@bellsouth.net

Scheduled Assets: $4,956,000

Scheduled Debts: $2,580,000

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/flsb11-31611.pdf

The petition was signed by Mariano de Socarraz, managing member.


CRB PARTNERS: Case Summary & 8 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: CRB Partners, LLC
        4303 Russell Drive
        Austin, TX 78704

Bankruptcy Case No.: 11-11924

Chapter 11 Petition Date: August 1, 2011

Court: United States Bankruptcy Court
       Western District of Texas (Austin)

Judge: Craig A. Gargotta

Debtor's Counsel: C. Daniel Roberts, Esq.
                  C. DANIEL ROBERTS & ASSOCIATES, P.C.
                  1602 East Cesar Chavez
                  Austin, TX 78702
                  Tel: (512) 494-8448
                  Fax: (512) 494-8712
                  E-mail: droberts@cdrlaw.net

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

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

A list of the Company's eight largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/txwb11-11924.pdf

The petition was signed by Charles E. Howard, manager.

Affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Russell Drive, LLC                                08/01/11


CRYSTAL CATHEDERAL: Urges Members to Donate Up to $10,000 Each
--------------------------------------------------------------
Nicola Menzie at Christian Post Contributor reports that visitors
to the church's official Web site were inviting supporters to
"stand with Crystal Cathedral" and "be a part of the miracle." The
"faith offering" page allows supporters to donate between $10 and
$10,000 each.  Crystal Cathedral is looking to raise $50 million
in 120 days.

                  Debtor Hopes to Keep Church

Crystal Cathedral on July 31 said that its board has voted to
forego choosing a buyer of its Crystal Cathedral property, as part
of its bankruptcy reorganization plan.  The church says it hopes
to raise $50 million in order to fend off the sale being pushed by
the Official Committee of Unsecured Creditors.

The church itself began the sale process by proposing a plan where
the campus would be sold to Greenlaw Partners LLC and leased back
in a $46 million transaction.  Greenlaw would develop some of the
property. Chapman University made a similar $46 million proposal.
Needing a larger cathedral, the Roman Catholic Diocese of Orange
County, California, later made an offer to purchase the church and
its property for $50 million.

The judge previously approved sale procedures where bids were due
July 22 in advance of an Aug. 5 auction and a hearing on Aug. 9 to
approve the sale.

                      About Crystal Cathedral

Crystal Cathedral Ministries is a Southern California-based
megachurch founded by television evangelist Robert Schuller.  The
church, known for its television show "The Hour of Power."

Mr. Schuller retired from his role as senior pastor of Crystal
Cathedral in 2006. His daughter Sheila Schuller Coleman has been
senior pastor since July 2009.  Contributions declined 24 percent
in 2009, in part on account of "unsettled leadership."

Crystal Cathedral filed for Chapter 11 bankruptcy protection
(Bankr. C.D. Calif. 10-24771) on Oct. 18, 2010.  The Debtor
disclosed $72,872,165 in assets and $48,460,826 in liabilities as
of the Chapter 11 filing.  Marc J. Winthrop, Esq., at Winthrop
Couchot P.C. represent the Debtor.

Todd C. Ringstad, Esq., at Ringstad & Sanders, LLP, represents the
Official Committee of Unsecured Creditors.  The Creditors
Committee is asking the bankruptcy judge terminate the church's
exclusive right to propose a Chapter 11 plan.


CRYSTAL CATHEDRAL: Seeks to FTI Consulting to Work on Plan
----------------------------------------------------------
Crystal Cathedral Ministries seeks permission from the U.S.
Bankruptcy Court for the Central District of California to employ
FTI Consulting, Inc. as financial advisor and consultant.

Upon retention, the firm, will among other things:

   -- prepare a cram down analyses to be used in conjunction
      with the drafting of a plan of reorganization, including
      the assessment of the appropriate rate of interest;

   -- provide litigation advisory services, including expert
      witness testimony on case related issues, as necessary; and

   -- assist with the preparation of financial information for
      distribution to creditors and others, including without
      limitation, cash flow projections and budgets, cash receipts
      and disbursement analysis, analysis of various asset and
      liability accounts, and analysis of proposed transaction for
      which Court approval is sought.

The firm's rates are:

   Personnel                 Title                  Hourly Rate
   ---------                 -----                  -----------
Ronald F. Greenspan     Senior Managing Director       $895
Michael J. VanderLey    Managing Director              $730
Steven E. Voskanian     Director                       $640

                      About Crystal Cathedral

Crystal Cathedral Ministries is a Southern California-based
megachurch founded by television evangelist Robert Schuller.  The
church, known for its television show "The Hour of Power."

Mr. Schuller retired from his role as senior pastor of Crystal
Cathedral in 2006. His daughter Sheila Schuller Coleman has been
senior pastor since July 2009.  Contributions declined 24 percent
in 2009, in part on account of "unsettled leadership."

Crystal Cathedral filed for Chapter 11 bankruptcy protection
(Bankr. C.D. Calif. 10-24771) on Oct. 18, 2010.  The Debtor
disclosed $72,872,165 in assets and $48,460,826 in liabilities as
of the Chapter 11 filing.  Marc J. Winthrop, Esq., at Winthrop
Couchot P.C. represent the Debtor.

Todd C. Ringstad, Esq., at Ringstad & Sanders, LLP, represents the
Official Committee of Unsecured Creditors.  The Creditors
Committee is asking the bankruptcy judge terminate the church's
exclusive right to propose a Chapter 11 plan.

                  Debtor Hopes to Keep Church

Crystal Cathedral on July 31 said that its board has voted to
forego choosing a buyer of its Crystal Cathedral property, as part
of its bankruptcy reorganization plan.  The church says it hopes
to raise $50 million in order to fend off the sale being pushed by
the Official Committee of Unsecured Creditors.

The church itself began the sale process by proposing a plan where
the campus would be sold to Greenlaw Partners LLC and leased back
in a $46 million transaction.  Greenlaw would develop some of the
property. Chapman University made a similar $46 million proposal.
Needing a larger cathedral, the Roman Catholic Diocese of Orange
County, California, later made an offer to purchase the church and
its property for $50 million.

The judge previously approved sale procedures where bids were due
July 22 in advance of an Aug. 5 auction and a hearing on Aug. 9 to
approve the sale.


DALLAS PARTNERS: Case Summary & 4 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Dallas Partners, LLC
        15485 Ventura Boulevard
        Sherman Oaks, CA 91403

Bankruptcy Case No.: 11-19209

Chapter 11 Petition Date: August 1, 2011

Court: United States Bankruptcy Court
       Central District of California (San Fernando Valley)

Judge: Alan M. Ahart

Debtor's Counsel: Michael Jay Berger, Esq.
                  LAW OFFICES OF MICHAEL JAY BERGER
                  9454 Wilshire Blvd., 6th Floor
                  Beverly Hills, CA 90212-2929
                  Tel: (310) 271-6223
                  Fax: (310) 271-9805
                  E-mail: michael.berger@bankruptcypower.com

Scheduled Assets: $1,393,060

Scheduled Debts: $3,660,442

A list of the Company's four largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/cacb11-19209.pdf

The petition was signed by Masoud Isaac Kahrobaie, managing
member.


DAVIS OFFSHORE: 5th Cir. Exhonerates Ex-CEO's Son of Liability
--------------------------------------------------------------
Although a confirmed Chapter 11 plan's release and exculpation
clauses were ambiguous regarding the scope of the release or
exculpation of the son of the debtor's former chief executive
officer, WestLaw reports, the confirmation order exonerated him
from personal liability even for the fraud claimed by an equity
holder.  By its terms, one paragraph of the confirmation order,
read alone, lent itself to this interpretation, which also was
consistent with the plan's essential goal of ending all litigation
that might stand in the way of the sale of the debtor's assets and
provoke a continued hemorrhaging of the debtor's cash.  Neither
the plan nor the confirmation order was foisted upon the equity
holder, despite its assertion that the rush to confirmation
precluded careful review of the transaction. The equity holder was
at all times represented by sophisticated counsel and was
routinely included in correspondence among the former CEO's family
members and their counsel. Furthermore, the equity holder had
declined to appeal the confirmation order or the denial of its
motion to revoke confirmation, and it was too late to do so now.
In matter of Davis Offshore, L.P., --- F.3d ----, 2011 WL 2410498
(5th Cir.).

Writing for http://volo.abi.org/,Kevin M. Baum at St. John's
University School relates these facts:

The Debtors were part of a family-owned oil and gas drilling
business.  After the family patriarch died, the Debtors began
experiencing financial problems.  Because of ongoing legal trouble
and a severe cash shortage, the Debtors' assets were sold to the
Consortium, which included Davis, under a prepackaged chapter 11
plan.  Under the Plan, which was confirmed in less than a week,
the family members' equity interests received approximately $31
million.  "Represented by a coterie of sophisticated expert legal
counsel, all interested parties exchanged releases in the [Plan]."
While it did not vote for the Plan, the Trust also neither opposed
the Plan nor appealed the Confirmation Order.

Six months later, the Trust, alleging fraud, moved to revoke the
Confirmation Order under 1144.  Specifically, the Trust argued
that it had recently become aware of alleged fraud perpetrated by
some of the Consortium's representatives' (including Davis), which
allowed the Consortium to purchase the assets for well below
market value.  The Bankruptcy Court concluded that no fraud had
occurred.  On appeal, the District Court held that the appeal moot
because the Plan had been substantially consummated, and
accordingly, vacated the Bankruptcy Court's order.

Although it did not appeal the District Court's order, the Trust
instead sought leave from the District Court to pursue damage
claims against the certain members of the Consortium and the
individuals, including Davis, who it claimed committed the alleged
fraud.  Since the motion would require the Court to interpret the
Plan's releases and exculpatory clause, the District Court
referred the motion to the Bankruptcy Court.  Denying the motion,
the Bankruptcy Court found that the Trust was impermissibly
attempting to collaterally attack the Plan and the Confirmation
Order.

A full-text copy of the Fifth Circuit's opinion is available at no
charge at:

http://volo.abi.org/sites/volo.abi.org/files/5th-09-41294-
cv0.wpd_.pdf


DAZ VINEYARDS: Bank Does Not Consent to Cash Collateral Use
-----------------------------------------------------------
Silicon Valley Bank notified the U.S. Bankruptcy Court for the
Central District of California that it does not consent to the use
by Daz Vineyard, LLC, of its "cash collateral" within the meaning
of Section 363(a) of the Bankruptcy Code after the June 30, 2011,
expiration of the parties' stipulated cash collateral order.

SVB said it is refusing consent to the cash collateral use after
June 30 based on, inter alia, a lack of adequate protection of
SVB's interest, including the lack of an adequate equity cushion
and the lack of positive cash flow that the Debtor previously
represented would adequately protect SVB's interests.

The Debtor has projected that receivables created by postpetition
operations will exceed the use of the cash collateral, but the
Debtor's filings in the case evidence that it continues to operate
at a loss and projects negative operating flow in the near future,
SVB complained.

Los Olivos, California-based DAZ Vineyards, LLC, dba Demetria
Estate Winery, filed for Chapter 11 bankruptcy protection (Bankr.
C.D. Calif. Case No. 10-10689) on Feb. 15, 2010.  William C.
Beall, Esq., at Beall and Burkhardt, serves as the Debtor's
bankruptcy counsel.  In its schedules, the Debtor disclosed
$32,071,232 in assets and $11,418,337 in liabilities.


DB CAPITAL: U.S. Trustee, Citing Disputes, Wants Dismissal
----------------------------------------------------------
Richard A. Wieland, the United States Trustee, asks the U.S.
Bankruptcy Court for the District of Colorado to dismiss the
Chapter 11 case of DB Capital Holdings, LLC.

The U.S. Trustee relates that the operations of DB Capital
Holdings LLC have been paralyzed by disputes between its two
members; Dancing Bear Development, L.P. (also a Debtor) and Aspen
HH Ventures, LLC.  Further complicating the case, have been the
disputes with the secured creditor, West LB AG.

In support of his motion, the Trustee cites:

  (i) The Debtor has been operating under the protections afforded
      it under the Bankruptcy Code for over eight months and has
      not filed a Plan or Disclosure Statement.

(ii) The Debtor has not filed any monthly operating reports since
      the Order for relief.

(iii) The Debtor has failed to file and transmit to the UST a
      statement of disbursements made and of any fees payable
      under 28 U.S.C. Section 1930(a)(6).

(iv) The Debtor has not paid the fees due under 28 U.S.C.
      Section 1930(a)(6) for the 4th quarter of 2010, nor the 1st
      and 2nd quarters of 2011.

  (v) The Debtor is not generating revenue, not capable of making
      payments to the secured creditor, and not paying
      administration costs.  There is a "continuing loss to or
      diminution of the estate" as required under 1112(b)(4)(A).

                        About Dancing Bear

DB Capital Holdings, LLC, is a limited liability company organized
under the laws of the State of Colorado.  Its assets include its
membership interest in Dancing Bear Land, LLC, as well as Dancing
Bear Realty, LLC, and LCH LLC.  Those entities were used to
develop and sell a luxury fractional ownership condominium project
(made up of two buildings located across the street from each
other) in Aspen, Colorado known as the "Dancing Bear Aspen".
Dancing Bear Land holds title to the two parcels of real property
on which the Project is being constructed.  The Debtor has one
Class A member, Aspen HH Ventures, LLC, and one Class B member,
Dancing Bear Development, LP.  The general partner of Dancing Bear
Development, LP, is Dancing Bear Management, LLC, which has no
membership or other interest in the Debtor, and is solely owned by
Tom DiVenere.  The Debtor is managed, pursuant to its Operating
Agreement, by Dancing Bear Management, LLC.

Fred Funk, William Dennis, G.D.B.S. at Snowmass, Inc., Realty
Financial Resources, Inc., and O'Bryan Partnership, Inc., filed an
involuntary Chapter 11 bankruptcy petition (Bankr. D. Colo. Case
No. 10-25805) against DB Capital Holdings on June 24, 2010.  The
order for relief was entered Nov. 29, 2010.  Jeffrey S. Brinen,
Esq., represents the petitioners.  In its schedules, DB Capital
disclosed liabilities of $57,456,046.

On Oct. 19, 2010, Dancing Bear Development, LP, filed for
Chapter 11 relief (Bankr. D. Colo. Case No. 10-36493) to stay
foreclosure of its membership interest in Capital.  DB Development
estimated assets and debts below $1 million.

On Nov. 23, 2010, Dancing Bear Land, LLC, filed for Chapter 11
relief (Bankr. D. Colo. Case No. 10-39584), to stay foreclosure of
its Property.  In its schedules of assets and liabilities, DB Land
disclosed $58 million in liabilities.


DELTATHREE: Seven Directors Elected at Annual Meeting
-----------------------------------------------------
At the Aug. 1 meeting of deltathree, Inc.'s shareholders, seven
directors were elected for a term of one year each:

   (1) Robert Stevanovski;
   (2) Anthony Cassara;
   (3) Lior Samuelson;
   (4) David Stevanovski;
   (5) Colleen Jones;
   (6) J. Lyle Patrick; and
   (7) Brian Fitzpatrick.

The ratification of the appointment of Brightman Almagor Zohar &
Co., a member firm of Deloitte Touche Tohmatsu, as the Company's
independent auditors for the fiscal year ending Dec. 31, 2011, was
approved by shareholders.

                         About deltathree

Based in New York, deltathree, Inc. (OTC QB: DDDC) --
http://www.deltathree.com/-- is a global provider of video and
voice over Internet Protocol (VoIP) telephony services, products,
hosted solutions and infrastructures for service providers,
resellers and direct consumers.

The Company's balance sheet at March 31, 2011, showed
$1.86 million in total assets, $4.44 million in total liabilities,
and a stockholders' deficit of $2.58 million.

As reported in the TCR on March 23, 2011, Brightman Almagor Zohar
& Co., in Tel Aviv, Israel, expressed substantial doubt about
deltathree, Inc.'s ability  to continue as a going concern,
following the Company's 2010 results.  The independent auditors
noted that of the Company's recurring losses from operations and
deficiency in stockholders' equity.


DENNY'S CORPORATION: Reports $8.13MM Net Income in June 29 Qtr.
---------------------------------------------------------------
Denny's Corporation reported net income of $8.13 million on
$135.85 million of total operating revenue for the quarter ended
June 29, 2011, compared with net income of $5.45 million on
$135.07 million of total operating revenue for the same period
during the prior year.

The Company also reported net income of $12.25 million on
$271.65 million of total operating revenue for the two quarters
ended June 29, 2011, compared with net income of $10.04 million on
$272.65 million of total operating revenue for the same period a
year ago.

The Company's balance sheet at June 29, 2011, showed
$286.66 million in total assets, $386.18 million in total
liabilities, and a $99.52 million total shareholders' deficit.

John Miller, President and Chief Executive Officer, stated,
"Denny's positive same-store sales and guest counts are a
testament to the success of our current market strategies,
emphasizing everyday affordability with attractive Limited Time
Only products.  We are especially pleased that we can achieve an
increase in sales and profitability despite significant headwinds
coming from inflationary pressures and the challenging consumer
economic environment.  Our franchisees continue to be excited
about growing the brand, as evidenced by the opening of 19 new
units in the second quarter of this year."

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

                     About Denny's Corporation

Based in Spartanburg, South Carolina, Denny's Corporation (NASDAQ:
DENN) -- http://www.dennys.com/-- Denny's is one of America's
largest full-service family restaurant chains, consisting of 1,348
franchised and licensed units and 232 company-owned units, with
operations in the United States, Canada, Costa Rica, Guam, Mexico,
New Zealand and Puerto Rico.

Denny's carries 'B2' corporate family and probability of default
ratings from Moody's Investors Service and a 'B+' corporate credit
rating from Standard & Poor's.


DREIER LLP: Court Rejects Trustee's Suit Against Wachovia
---------------------------------------------------------
Over the course of three years, Wachovia Bank, N.A.,  made various
loans or extended credit to Dreier LLP, in exchange for security
interests in Dreier LLP's property.  Sheila M. Gowan, the chapter
11 trustee of the estate of Dreier LLP, filed an adversary
proceeding to avoid those liens and recover all sums paid by
Dreier LLP to Wachovia.  Wachovia moved to dismiss the complaint
pursuant to Rule 12(b)(6) of the Federal Rules of Civil Procedure,
arguing that the Complaint alleges a series of unexceptionable
banking transactions in which Wachovia sought to earn fees but
ultimately lost a lot of money.  Furthermore, Wachovia did not
invest in the Ponzi scheme and did not maintain the account
through which Mr. Dreier ran it.  The Trustee counters that
Wachovia knew or should have known that Mr. Dreier would cause
Dreier LLP to fraudulently transfer certain loan proceeds as part
of the Ponzi scheme.  Wachovia extended a $9 million loan to Mr.
Dreier shortly before the firm collapsed.  The Trustee, however,
has withdrawn most of her claims at or subsequent to oral
argument.

In an August 3, 2011 Memorandum Decision and Order, Bankruptcy
Judge Stuart M. Bernstein granted Wachovia's motion to dismiss,
but permitted the Trustee's request for leave to replead to a
limited extent.  According to Judge Bernstein, the Trustee had two
years to prepare her Complaint, aided by Rule 2004 discovery.

"This is not a case where she was unable to identify and
sufficiently plead the underlying fraudulent transfer of the loan
proceeds to a Ponzi scheme investor.  The problem with her
pleading relates to Wachovia's awareness of Marc's scheme," Judge
Bernstein said.  "The Court has found these allegations wanting
because of Wachovia's lack of contact with the scheme either as an
investor or as a bank and the implausibility of its supposed
desire to acquire the account so it could knowingly facilitate the
scheme and earn more fees.  The Trustee has not indicated that she
could plead any other facts bearing on Wachovia's actual or
constructive awareness that Marc ran a Ponzi scheme, or that he
planned to use the October 2008 Loan to fund it.  As a result,
leave to replead these claims would not be productive. In
addition, the preference claim is plainly barred by the
contemporaneous exchange for value defense, and no point would be
served by granting the Trustee leave to replead it.

The case is Sheila M. Gowan, Chapter 11 Trustee of the Estate of
DREIER LLP, v. Wachovia Bank, N.A., and Wells Fargo Bank, N.A., in
its Capacity as Successor-By-Merger to Wachovia Bank, N.A., Adv.
Proc. No. 10-5458 (Bankr. S.D.N.Y.).  A copy of Judge Bernstein's
ruling is available at http://is.gd/OIysvofrom Leagle.com.

Wachovia Bank, N.A. and Wells Fargo Bank, N.A., are represented
by:

          Jordan W. Siev, Esq.
          Melissa Rubenstein, Esq.
          Han J. Ahn, Esq.
          Nicole O'Sullivan, Esq.
          REED SMITH LLP
          599 Lexington Avenue, 22nd Floor
          New York, NY 10022
          Tel: 212-205-6085
          Fax: 212-521-5450
          E-mail: jsiev@reedsmith.com
                  mrubenstein@reedsmith.com

                       About Dreier LLP

Marc Dreier founded New York-based law firm Dreier LLP --
http://www.dreierllp.com/-- in 1996.  On Dec. 8, 2008, the U.S.
Securities and Exchange Commission filed a suit, alleging that Mr.
Dreier made fraudulent offers and sales of securities in several
cities, selling fake promissory notes to hedge and other private
investment funds.  The SEC asserted that Mr. Dreier also
distributed phony financial statements and audit opinions, and
recruited accomplices in connection with that scheme.  Mr. Dreier,
currently in prison, was charged by the U.S. government for
conspiracy, securities fraud and wire fraud (S.D.N.Y. Case No. 09-
cr-00085).

Dreier LLP sought Chapter 11 protection (Bankr. S.D.N.Y. Case No.
08-15051) on Dec. 16, 2008.  Stephen J. Shimshak, Esq., at Paul,
Weiss, Rifkind, Wharton & Garrison LLP, was tapped as counsel.
The Debtor estimated assets of $100 million to $500 million, and
debts between $10 million and $50 million in its Chapter 11
petition.  Sheila M. Gowan, a partner with Diamond McCarthy, was
appointed Chapter 11 trustee.

Wachovia Bank National Association, the Chapter 11 trustee, and
Steven J. Reisman as post-confirmation representative of the
bankruptcy estate of 360networks (USA) Inc. signed a petition that
put Mr. Dreier into bankruptcy under Chapter 7 on Jan. 26, 2009
(Bankr. S.D.N.Y. Case No. 09-10371).

Mr. Dreier, 60, pleaded guilty to fraud and other charges in May
2009.  The scheme to sell $700 million in fake notes unraveled in
late 2008.  Mr. Dreier is serving a 20-year sentence in a federal
prison in Minneapolis.


EIDOLON CAPITAL: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Eidolon Capital Partners, II, LLC
        9060 Harts Mill Rd.
        Warrenton, VA 20186

Bankruptcy Case No.: 11-15657

Chapter 11 Petition Date: August 1, 2011

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

Judge: Stephen S. Mitchell

Debtor's Counsel: Ronald J. Aiani, Esq.
                  RONALD J. AIANI, P.C.
                  86 East Lee St.
                  Warrenton, VA 20186-3328
                  Tel: (540) 347-5295
                  E-mail: raiani@aianilaw.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 Douglas E. Darling, sole member.

Affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Douglas E. Darling                     11-15658   08/01/11


ELEPHANT & CASTLE: Files Schedules of Assets & Liabilities
----------------------------------------------------------
Massachusetts Elephant & Castle Group 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                     $0
B. Personal Property           $332,312
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                     $21,279,707
E. Creditors Holding
   Unsecured Priority
   Claims                                                 $92,425

F. Creditors Holding
   Unsecured Non-priority
   Claims                                                $186,701
                               --------               -----------
      TOTAL                    $323,312               $21,558,833

                      About Elephant & Castle

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

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


EXTENDED STAY: Agreement on Turnover of Examiner Docs. Approved
---------------------------------------------------------------
Judge James Peck approved an agreement, which calls for a
turnover of certain documents collected during an investigation
by a court-appointed examiner into Extended Stay Inc.'s
bankruptcy.

Pursuant to the agreement, copies of certain documents received
from the examiner's financial adviser, Alvarez & Marsal Dispute
Analysis and Forensic Services LLC, will be provided to a trust
for the company's creditors which is administered by Hobart
Truesdell.

The agreement prohibits the trust from using the documents in any
future litigation unless there is prior written agreement from
the examiner and his professionals.

                       About Extended Stay

Extended Stay is the largest owner and operator of mid-price
extended stay hotels in the United States, holding one of the most
geographically diverse portfolios in the lodging sector with
properties located across 44 states (including 11 hotels located
in New York) and two provinces in Canada.  As a result of
acquisitions and mergers, Extended Stay's portfolio has expanded
to encompass over 680 properties, consisting of hotels directly
owned or leased by Extended Stay or one of its affiliates.
Extended Stay currently operates five hotel brands: (i) Crossland
Economy Studios, (ii) Extended Stay America, (iii) Extended Stay
Deluxe, (iv) Homestead Studio Suites, and (v) StudioPLUS Deluxe
Studios.

Extended Stay Inc. and its affiliates filed for Chapter 11 on
June 15, 2009 (Bankr. S.D.N.Y. Case No. 09-13764).  Judge James M.
Peck handles the case.  Marcia L. Goldstein, Esq., at Weil Gotshal
& Manges LLP, in New York, represents the Debtors.  Lazard Freres
& Co. LLC is the Debtors' financial advisors.  Kurtzman Carson
Consultants LLC is the claims agent.  The Official Committee of
Unsecured Creditors tapped Gilbert Backenroth, Esq., Mark T.
Power, Esq., and Mark S. Indelicato, Esq., at Hahn & Hessen LLP,
in New York, as counsel.  Extended Stay had assets of
$7.1 billion and debts of $7.6 billion as of the end of 2008.

Extended Stay Inc. in October successfully emerged from Chapter 11
protection.  An investment group including Centerbridge Partners,
L.P., Paulson & Co. Inc. and Blackstone Real Estate Partners VI,
L.P.  has purchased 100 percent of the Company for $3.925 billion
in connection with the Plan of Reorganization confirmed by the
Bankruptcy Court in July 2010.

Bankruptcy Creditors' Service, Inc., publishes Extended Stay
Bankruptcy News.  The newsletter provides gavel-to-gavel coverage
of the Chapter 11 proceedings undertaken by Extended Stay Inc. and
its various affiliates. (http://bankrupt.com/newsstand/or
215/945-7000).


FAVA SQUARE: Case Summary & 9 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Fava Square, LLC
        416 Nye
        Laredo, TX 78041

Bankruptcy Case No.: 11-50173

Chapter 11 Petition Date: August 1, 2011

Court: U.S. Bankruptcy Court
       Southern District of Texas (Laredo)

Judge: Richard S. Schmidt

Debtor's Counsel: Carl Michael Barto, Esq.
                  LAW OFFICE OF CARL M. BARTO
                  817 Guadalupe Street
                  Laredo, TX 78040
                  Tel: (956) 725-7500
                  Fax: (956) 722-6739
                  E-mail: cmblaw@netscorp.net

Scheduled Assets: $3,273,860

Scheduled Debts: $2,591,220

A list of the Company's nine largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/txsb11-50173.pdf

The petition was signed by Paolo Favarato, manager.


FIDDLER'S CREEK: DYLand Further Fine-Tunes Chapter 11 Plan
----------------------------------------------------------
On July 19, 2011, a Second Modification to the Second Amended
Joint Plan of Reorganization for DY Land Holdings II, LLC, FC
Commercial, LLC, and FC Parcel 73, LLC, as previously modified by
a First Modification to the Plan, dated May 16, 2011, was filed
with the U.S. Bankruptcy Court for the Middle District of Florida.

The changes under the Second Modification pertain to the treatment
of Class 4A: Secured Claim - Tomen 1 Debt, which consists of the
Secured Claim of Fiddler's Debt Investor LLC, as assignee of
Collonade Naples Land, LLC, in connection with the Tomen 1 Debt,
and the Class 4B: Secured Claim - Tomen 2 Debt, which consists of
the Secured Claim of Fiddler's Land Investor LLC, as assignee of
Colonnade Naples Land, LLC in connection with the Tomen 2 Debt.

A copy of the Second Modification to the Second Amended Joint Plan
of Reorganization for DY Land Holdings II, et al., is available
for free at http://is.gd/tRsoSQ

                     About Fiddler's Creek

Fiddler's Creek, LLC, and its affiliates each owns, operates or is
otherwise affiliated with the premier, fully integrated, master
planned residential community known as "Fiddler's Creek" in
southwestern Florida.  Fiddler's Creek is located in Collier
County, Florida, approximately 12 miles southeast of the city of
Naples and six miles north of Marco Island.  The Fiddler's Creek
development is comprised of nearly 4,000 zoned acres of prime land
in Naples, Florida, and is planned for and capable of
accommodating up to 6,000 residences upon projected build-out,
which is estimated to be in 2020.  Fiddler's Creek contains five
distinctive neighborhoods known as: Fiddler's Creek, Veneta,
Aviamar, Marsh Cove and Meadow Run.

Fiddler's Creek filed for Chapter 11 bankruptcy protection (Bankr.
M.D. Fla. Case No. 10-03846) on Feb. 23, 2010.  Paul J. Battista,
Esq., Heather L. Harmon, Esq., and Mariaelena Gayo-Guitian, Esq.,
at Genovese Joblove & Battista, P.A., Miami; Bart A. Houston,
Esq., at Kopelowitz Ostrow; and Mark Woodward, Esq., serve as
counsel to the Debtors.  Judge Alexander L. Paskay presides over
the case.  The Company estimated assets and debts at $100 million
to $500 million.

Paul S. Singerman, Esq., Jordi Guso, Esq., and Debi Evans Galler,
Esq., at Berger Singerman P.A., represent the Official Unsecured
Creditors Committee as counsel.


FIDDLER'S CREEK: Court Enters 8th Interim Order on DIP Loans
------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida
entered its eight interim order allowing Fiddler's Creek, LLC, et
al., to obtain secured postpetition financing of up to $6,305,659,
when combined with the borrowings earlier authorized by the Court,
from Gulf Bay Capital, Inc., the DIP Lender, for the 4 week period
from July 1, 2011, through July 31, 2011, according to a July 14,
2011 order entered by the bankruptcy judge.

In their original request for DIP financing, the Debtors have
requested the authority to borrow up to $25,000,000.  At the most
recent hearing, the Court only considered the Debtors' request to
borrow up to approximately $6,305,659 in accordance with the
eighth interim budget.

                     About Fiddler's Creek

Fiddler's Creek, LLC, and its affiliates each owns, operates or is
otherwise affiliated with the premier, fully integrated, master
planned residential community known as "Fiddler's Creek" in
southwestern Florida.  Fiddler's Creek is located in Collier
County, Florida, approximately 12 miles southeast of the city of
Naples and six miles north of Marco Island.  The Fiddler's Creek
development is comprised of nearly 4,000 zoned acres of prime land
in Naples, Florida, and is planned for and capable of
accommodating up to 6,000 residences upon projected build-out,
which is estimated to be in 2020.  Fiddler's Creek contains five
distinctive neighborhoods known as: Fiddler's Creek, Veneta,
Aviamar, Marsh Cove and Meadow Run.

Fiddler's Creek filed for Chapter 11 bankruptcy protection (Bankr.
M.D. Fla. Case No. 10-03846) on Feb. 23, 2010.  Paul J. Battista,
Esq., Heather L. Harmon, Esq., and Mariaelena Gayo-Guitian, Esq.,
at Genovese Joblove & Battista, P.A., Miami; Bart A. Houston,
Esq., at Kopelowitz Ostrow; and Mark Woodward, Esq., serve as
counsel to the Debtors.  Judge Alexander L. Paskay presides over
the case.  The Company estimated assets and debts at $100 million
to $500 million.

Paul S. Singerman, Esq., Jordi Guso, Esq., and Debi Evans Galler,
Esq., at Berger Singerman P.A., represent the Official Unsecured
Creditors Committee as counsel.


GALP WATERS: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: GALP Waters Limited Partnership
          aka Gallery at Champions Apartments
        c/o LAW OFFICES OF MATTHEW HOFFMAN, P.C.
        2777 Allen Parkway, Suite 1000
        Houston, TX 77019
        Tel: (713) 654-9990

Bankruptcy Case No.: 11-36743

Affiliate that simultaneously sought Chapter 11 protection:

        Debtor                          Case No.
        ------                          --------
GALP Highcross Limited Partnership      11-36741

Chapter 11 Petition Date: August 2, 2011

Court: U.S. Bankruptcy Court
       Southern District of Texas (Houston)

Judge: Karen K. Brown

Debtors' Counsel: Matthew Hoffman, Esq.
                  LAW OFFICES OF MATTHEW HOFFMAN, P.C.
                  2777 Allen Parkway, Suite 1000
                  Houston, TX 77019
                  Tel: (713) 654-9990
                  Fax: (713) 654-0038
                  E-mail: mhecf@aol.com

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

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

The petitions were signed by Gary M. Gray, president of Waters-1
GP, Inc., general partner of Waters GP, L.P., general partner.

List of 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Findit Apartment Locators          Trade Debt              $16,333
P.O. Box 742324
Houston, TX 77074

O'Connor & Associates              Trade Debt              $15,820
2200 North Loop West, Suite 200
Houston, TX 77018

O.R.P. Construction, Inc.          Trade Debt              $14,679
30603 Aldine Westfield
Spring, TX 77386

LTD Landscaping & Supplies, Inc.   Trade Debt              $13,380

All Floors Carpet Cleaning         Trade Debt               $9,463

Gexa Energy                        Trade Debt               $9,088

Century Air Conditioning Supply,   Trade Debt               $5,074
Inc.

For Rent Media Solutions           Trade Debt               $4,400

Hudson Energy                      Trade Debt               $4,236

A.S.A.P Apartment Specialist       Trade Debt               $3,935

Centerpoint Energy                 Trade Debt               $3,802

American Management Services LLC   Trade Debt               $3,449

AAA Plumbers                       Trade Debt               $3,334

Camp Roofing                       Trade Debt               $2,370

Apartments.com                     Trade Debt               $2,253

Webb Pest Control                  Trade Debt               $2,249

Reliant Energy                     Trade Debt               $1,973

Sherwin Williams                   Trade Debt               $1,789

E-Z Apartment Locators             Trade Debt               $1,758

Envirotrol Company, Inc.           Trade Debt               $1,625


GIORDANO'S ENTERPRISES: Franchisees Now Using Approved Ingredients
------------------------------------------------------------------
The Associated Press reports that Philip Martino, bankruptcy
trustee for Giordano's, said all of the chain's Chicago-style,
deep-dish pizza restaurants are again using its proprietary
products.

The trustee had filed complaints against certain franchisees for
failing to buy ingredients from approved suppliers.  The trustee
said that all restaurants are now buying the approved products,
according to the report.

The trustee said certain disputes with franchisees remain
unresolved.  But the trustee said those differences should be
settled over the next month.  The trustee said customers should
know the pizza "will continue to be of the highest quality."

                   About Giordano's Enterprises

Chicago, Illinois-based Giordano's Enterprises, Inc., was founded
in 1974 in Chicago, Illinois, by two Argentinean immigrants, Efren
and Joseph Boglio.  In 1988, John and Eva Apostolou purchased
control of Giordano's.  Although this casual dining eatery offers
a broad array of fine Italian cuisine, it is primarily know for
its "Chicago's World Famous Stuffed Pizza".  At present,
Giordano's operates six company owned stores in Chicagoland, four
joint venture stores, and thirty-five franchisee locations.  In
addition, Giordano's operates Americana Foods, Inc., located in
Mount Prospect, Illinois, that serves as the commissary for the
majority of food products purchased by the Illinois locations.

An affiliated real estate holding company, Randolph Partners, LP,
owns 12 restaurant buildings that are leased to four of the
company-owned locations, two of the joint venture locations and
six of the franchisee locations.  The other 33 locations are
leased from third party landlords; two for the Giordano's
locations, two for the joint venture locations and 29 for the
franchise locations.  Giordano's is the lessee and subleases the
restaurant facility for 22 of the 29 franchise third party leases.
JBA Equipment Finance, Inc, another affiliated entity, leases
restaurant equipment packages to eight franchisee locations.

Giordano's Enterprises and 26 affiliates filed for Chapter 11
bankruptcy protection (Bankr. N.D. Ill. Lead Case No. 11-06098) on
Feb. 16, 2011.  Six additional affiliates filed for Chapter 11
protection on Feb. 17, 2011.  Michael L. Gesas, Esq., David A.
Golin, Esq., Miriam R. Stein, Esq., and Kevin H. Morse, at
Arnstein & Lehr, LLP, in Chicago, serve as the Debtors'
bankruptcy counsel.  Giordano's Enterprises disclosed $59,387 in
assets and $45,538,574 in liabilities as of the Chapter 11 filing.

Certain of the Debtors owe Fifth Third Bank not than $13,560,662,
pursuant to loans and financial accommodations, and $31,927,998
under a business loan as of the Petition Date.  Fifth Third has
agreed to provide DIP financing of up to $35,983,563 to the
Debtors.

Philip V. Martino has been appointed as Chapter 11 trustee in the
Debtors' bankruptcy cases, at the behest of the U.S. Trustee.  Mr.
Martino filed a $3,000,000 bond.


GPX I: Case Summary & 15 Largest Unsecured Creditors
----------------------------------------------------
Debtor: GPX I LLC
        814 Pebble Drive
        Greensboro, NC 27410

Bankruptcy Case No.: 11-11187

Chapter 11 Petition Date: August 1, 2011

Court: United States Bankruptcy Court
       Middle District of North Carolina (Greensboro)

Debtor's Counsel: Dirk W. Siegmund, Esq.
                  IVEY, MCCLELLAN, GATTON, & TALCOTT, LLP
                  Suite 500, 100 S. Elm St.
                  P.O. Box 3324
                  Greensboro, NC 27402-3324
                  Tel: (336) 274-4658
                  Fax: (336) 274-4540
                  E-mail: dws@imgt-law.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 15 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ncmb11-11187.pdf

The petition was signed by Michael A. Falk, manager/member.


GRACE COMMUNITY: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Grace Community Church of Castroville Incorporated
        8406 FM 471 South
        Castroville, TX 78009

Bankruptcy Case No.: 11-52659

Chapter 11 Petition Date: August 1, 2011

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

Judge: Ronald B. King

Debtor's Counsel: Michael G. Panzarella, Esq.
                  MICHAEL G. PANZARELLA, PLLC
                  1314 E Sonterra Blvd, Suite 401
                  San Antonio, TX 78258
                  Tel: (210) 495-4801
                  Fax: (210) 477-2226
                  E-mail: mpanzarella@gmail.com

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

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/txwb11-52659.pdf

The petition was signed by Kent Carnely, pastor.


GREAT ATLANTIC: At "Crucial Stage" of Labor Talks, Seeks Plan Time
------------------------------------------------------------------
The Great Atlantic & Pacific Tea Company, Inc., et al., ask the
U.S. Bankruptcy Court for the Southern District of New York to
extend their exclusive periods to file and solicit acceptances for
the proposed chapter 11 plan until Jan. 16, 2012 and March 16,
2012, respectively.

The Debtors set an Aug. 16 hearing on the requested exclusivity
extensions.  Objections, if any, are due Aug. 9, at 4:00 p.m.
(prevailing Eastern Time).

The Debtors relate that they are now at a crucial stage in their
labor negotiations and are simultaneously pressing forward on
their other operational restructuring efforts, further refining
their business plan, and undertaking other preparatory analyses
and efforts to best position them to exit from chapter 11 as
expeditiously as possible.

                  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.


GREAT ATLANTIC: Gets to Defer Decision on Select Store Leases
-------------------------------------------------------------
Pursuant to the Court approved procedures with respect to the
assumption or rejection of unexpired leases of nonresidential
property, The Great Atlantic & Pacific Tea Company, Inc., et al.,
filed with the U.S. Bankruptcy Court for the Southern District of
New York on Aug. 1, 2011, a schedule of consensual agreements to
extend the 11 U.S.C. Section 365(d)(4) deadline between the
Debtors and the applicable Lessor.

The Extension Schedule identifies for each consensual agreement to
extend the 365(d)(4) Deadline: (a) the applicable store; (b) the
store address; (c) the Lessor; and (d) the proposed extension of
the 365(d)(4) Deadline.

Any party wishing to object to any extension of the 365(d)(4)
Deadline identified on the Extension Schedule must file and serve
a written objection by Aug. 8, 2011

A full-text copy of the extension schedule is available for free
at http://bankrupt.com/misc/GreatAtlantic_leaseext.pdf

                  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.


HAMPTON ROADS: Bank Sells Gateway Insurance for $5.8 Million
------------------------------------------------------------
The Bank of Hampton Roads and Gateway Insurance Services, Inc.,
subsidiaries of Hampton Roads Bankshares, Inc., entered into an
asset purchase agreement with Bankers Insurance, L.L.C.  Under the
Purchase Agreement, Bankers purchased substantially all of the
assets and assumed certain liabilities of Gateway Insurance
effective simultaneously with the execution of the Purchase
Agreement.  As consideration for the Asset Sale, the Bank received
a cash payment equal to $5.8 million and a 0.45% membership
interest in Bankers.  The cash payment is subject to a post-
closing working capital adjustment.

The Bank and Gateway Insurance also agree, under the Purchase
Agreement, not to compete with Bankers, or solicit employees of
Bankers, for a period of three years from Aug. 1, 2011.  The
restriction on competition is limited to Bankers' current business
and applies to the Bank, Gateway Insurance and their affiliates in
areas within 60 miles of current offices of the Bank or Gateway
Insurance, but does not apply on the Eastern Shore of Virginia to
affiliates located there.

Insurance products will continue to be available to HRB's
customers through referrals to Bankers.  Under the terms of its
Bankers membership interest, HRB may receive a portion of the
commissions generated by such insurance sales.

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

                  About Hampton Roads Bankshares

Hampton Roads Bankshares, Inc. (NASDAQ: HMPR) --
http://www.hamptonroadsbanksharesinc.com/-- is a bank holding
company that was formed in 2001 and is headquartered in Norfolk,
Virginia.  The Company's primary subsidiaries are Bank of Hampton
Roads, which opened for business in 1987, and Shore Bank, which
opened in 1961.  Currently, Bank of Hampton Roads operates twenty-
eight banking offices in the Hampton Roads region of southeastern
Virginia and twenty-four offices in Virginia and North Carolina
doing business as Gateway Bank & Trust Co.  Shore Bank serves the
Eastern Shore of Maryland and Virginia through eight banking
offices and fifteen ATMs.

Effective June 17, 2010, the Company and its banking subsidiary,
Bank of Hampton Roads ("BOHR"), entered into a written agreement
with the Federal Reserve Bank of Richmond and the Bureau of
Financial Institutions of the Virginia State Corporation
Commission.  The Company's other banking subsidiary, Shore Bank,
is not a party to the Written Agreement.

Under the terms of the Written Agreement, among other things, BOHR
agreed to develop and submit for approval plans to (a) strengthen
board oversight of management and BOHR's operations, (b)
strengthen credit risk management policies, (c) improve BOHR's
position with respect to loans, relationships, or other assets in
excess of $2.5 million which are now, or may in the future become,
past due more than 90 days, are on BOHR's problem loan list, or
adversely classified in any report of examination of BOHR, (d)
review and revise, as appropriate, current policy and maintain
sound processes for determining, documenting, and recording an
adequate allowance for loan and lease losses, (e) improve
management of BOHR's liquidity position and funds management
policies, (f) provide contingency planning that accounts for
adverse scenarios and identifies and quantifies available sources
of liquidity for each scenario, (g) reduce the Bank's reliance on
brokered deposits, and (h) improve BOHR's earnings and overall
condition.

The Company said in its Form 10-Q for the Sept. 30, 2010 quarter
that due to its financial results, the substantial uncertainty
throughout the U.S. banking industry, and the Written Agreement
the Company and BOHR have entered into, doubts existed regarding
the Company's ability to continue as a going concern through the
second quarter of 2010.  However, management believes this concern
has been mitigated by the initial closing of the Private Placement
that occurred on Sept. 30, 2010.

The Company reported a net loss of $210.35 million on $122.20
million of total interest income for the year ended Dec. 31, 2010,
compared with a net loss of $201.45 million on $149.44 million of
total interest income during the prior year.

The Company's balance sheet at March 31, 2011, showed $2.71
billion in total assets, $2.55 billion in total liabilities and
$159.86 million in total shareholders' equity.


HAWAII MEDICAL: Court Okays Scouler as Financial Advisor
--------------------------------------------------------
Judge Robert J. Faris of the U.S. Bankruptcy for the District of
Hawaii authorized Hawaii Medical Center, et al., to employ Scouler
& Company LLC as their financial advisors nunc pro tunc to the
Petition Date.

As reported in the July 11, 2011 edition of the Troubled Company
Reporter, the firm will provide the services of Dan Scouler to
serve as chief restructuring officer, who will report directly to
the Board.

As directed by the Board, the CRO and any additional personnel
will provide the Debtors with these services:

  * Assist Maria Kostylo and her team through the bankruptcy
    process by, among other things, serving as the primary contact
    for the other advisors, the secured lenders, unsecured
    creditors and other parties-in-interest.  Provide non-legal
    restructuring and bankruptcy advise to the HMC Board.

  * Supervise the preparation of all necessary bankruptcy filings,
    including the schedules and statements of financial affairs,
    the monthly reports, and the cash projections for the cash
    collateral and/or DIP budgets.

  * Represent the Debtors in all court proceedings to provide
    testimony on any contested matters and plan feasibility
    issues, as requested.

  * Work with the Debtors' management to perform a financial
    review of the Debtors, including a review and assessment of
    financial information, including the Company's projected short
    and long-term cash flows.

  * Provide ongoing, periodic assessments of operations and
    financial performance, including progress towards achieving
    the Debtors' strategic objectives.

  * Conduct ongoing, routine communications with the Debtors'
    lenders and other creditors including periodic reviews of the
    Debtors' performance and progress towards achieving their
    strategies objectives.

  * Provide other similar services as may be necessary to maximize
    enterprise value.

  * The CRO and any Additional Personnel will provide other
    services as requested or directed by the Board and agreed to
    by such officer.

Dan Scouler's hourly rate is $695 per hour.  These professionals
will be assisting in the matter:

     Name                  Hourly Rate
     ----                  -----------
     Bob Noyes                $400
     Kern Gillette            $450
     Bret Jacobs              $400
     Lars Parkin              $250

The parties agreed to an initial advance payment retainer of
$15,000.

Mr. Scouler assures the Court that the firm does not hold or
represent any interest adverse to the Debtors' estate and Scouler
is a "disinterested person" as that phrase is defined under
Section 101(14) of the Bankruptcy Code.

                    About Hawaii Medical Center

The Hawaii Medical Center, along with its affiliates, filed for
Chapter 11 bankruptcy (Bankr. D. Hawaii Lead Case No. 11-01746) on
June 21, 2011, just a year after exiting court protection.  Hawaii
Medical Center owns two hospital campuses -- HMC East in North
Honolulu and HMC West in Ewa Beach.  The two hospitals have 342
licensed beds and have a total of more than 1,000 employees.  The
hospitals were known as St. Francis Medical Center before Hawaii
Medical purchased the hospitals in 2007.

Judge Robert J. Faris presides over the 2011 case.  Lawyers at
Moseley Biehl Tsugawa Lau & Muzzi, in Honolulu, Hawaii, and
McDonald Hopkins LLC, in Cleveland, Ohio, serve as the Debtors'
counsel.  In its petition, Hawaii Medical Center estimated $50
million to $100 million in assets and $100 million to $500 million
in debts.  The petitions were signed by Kenneth J. Silva, member
of the board of directors.

Attorneys at Wagner Choi & Verbrugge, in Honolulu, Hawaii, and
Pachulski Stang Ziehl & Jones LLP, in Los Angeles, represent the
Official Committee of Unsecured Creditors as counsel.

The Debtors' prepetition debt structure is comprised of (i) the
Prepetition Revolving Loan with MidCap Financial, LLC, and the
Prepetition Term Loan with St. Francis Healthcare Systems of
Hawaii.  As of the petition Dte, the aggregate outstanding
principal on the Prepetion MidCap Revolving Loan and the
Prepetition St. Francis Term Loan is approximately $46,851,772.
The principal balance of the Prepetion MidCap Revolving Loan is
approximately $7,676,495.  The amount owed under the Prepetition
St. Francis Term Loan is approximately $39,175,277, secured by St.
Francis's first priority lien on, among other things, all real
property of the Debtors.

Through this Chapter 11 filing, the Debtors plan to return the
hospitals to the control of St. Francis.

In the prior case, HMC and its affiliated debtors were converted
to new, Hawaii non-profit corporations.  CHA Hawaii, one of HMC's
affiliated debtors and a subsidiary of Cardiovascular Hospitals of
America, LLC, discontinued management of the reorganized Debtors.

Wichita, Kansas-based CHA Hawaii LLC, and its affiliates --
including Hawaii Medical Center LLC -- filed for Chapter 11
protection on Aug. 29, 2008 (Bankr. D. Del. Case No. 08-12027).
Laura Davis Jones, Esq., at Pachulski Stang Ziehl & Jones LLP
represented the Debtors in their restructuring efforts.  CHA
Hawaii estimated assets of up to $10 million and debts between
$50 million and $100 million when it filed for bankruptcy.  The
Debtors obtained confirmation of their Chapter 11 plan in May 2010
and emerged from bankruptcy in August 2010.


HILL TOP: Wants Webb County Property's 2010 Tax Rate Reduced
------------------------------------------------------------
Hill Top Farm, Ltd., asks the U.S. Bankruptcy Court for the
Western District of Texas to determine that the 2010 value of the
real property is the same as assessed by the appraisal district in
2009, and requests that the Court enter an order valuing the
property, and reducing the taxing authorities' secured claims
relating thereto.

The Debtor relates that the Webb County Appraisal District
annually assesses the value of the Debtor's real property located
in Webb County.  Thereafter, the taxing authorities in Webb County
set their property tax rate and then assess and collect ad valorem
property taxes for themselves.

The Debtor notes that in 2009 and 2011, the Webb County Appraisal
District's valuation of each lot was nearly identical and, for tax
purposes, represent a fair assessment of value.  However, in 2010,
the property value for each lot upon which each ad valorem taxing
authorities' claim is based is inflated and does not reflect
appropriate fair market values.  The values are excessive as is
the resulting tax.

The Debtor also requests that the value be used for plan and/or
tax determination purposes.

The Hon. Ronald B. King, in a separate order, dismissed First
National Bank's motion to compel disclosure information regarding
collateral and to prohibit use of cash collateral.  Based on the
review of the Debtor's docket sheet, it appears to the Court that
a proposed order has not been submitted regarding the motion
pursuant to the Court's ruling on April 4, 2011, and the letter of
May 27, from the Clerk of the Court.

                     About Hill Top Farm, Ltd.

San Antonio, Texas-based Hill Top Farm, Ltd., is in the real
estate development business.  The Company filed for Chapter 11
bankruptcy protection (Bankr. W.D. Tex. Case No. 10-52526) on
July 2, 2010.  William B. Kingman, Esq., who has an office in San
Antonio, Texas, assists the Company in its restructuring effort.
The Company estimated $10 million to $50 million in assets and
$1 million to $10 million in liabilities as of the Petition Date.

Judy A. Robbins, the U.S. Trustee for Region 7, was unable to
appoint a committee of creditors holding unsecured claims.


HINGHAM CAMPUS: Can Appoint Paul Rundell as CRO
-----------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
granted Hingham Campus, LLC, authorization to employ Alvarez &
Marsal Healthcare Industry, LLC, to provide Hingham a Chief
Restructuring Officer, and additional personnel, and to designate
Paul Rundell as CRO, nunc pro tunc to the Petition Date.

As reported in the TCR on July 6, 2011, A&M was retained by Senior
Living Retirement Communities, LLC, formerly known as Erickson
Retirement Communities, LLC, the sole member of Hingham, pursuant
to an Engagement Letter by and between Senior Living and A&M,
dated April 2, 2009.  Mr. Rundell is the Plan Administrator for
Senior Living.  On June 1, 2011, Senior Living and A&M entered
into a Second Addendum to the Engagement Letter, pursuant to
which, among other things, A&M and Senior Living agreed to appoint
Mr. Rundell as Hingham's CRO.  In addition, Mr. Rundell provides
analysis and advice to Linden Ponds, pursuant to the Management
Agreement.

Hingham has agreed to compensate A&M monthly for the hourly
services rendered by Mr. Rundell, as CRO, and the Additional
Personnel, to the extent necessary to assist Mr. Rundell in his
role as CRO, at these hourly rates:

          Managing Directors            $600-$700
          Senior Directors              $475-$550
          Directors                     $400-$500
          Associates                    $325-$400
          Analysts                      $200-$275

Hingham has agreed to indemnify the CRO in the same fashion
provided to Hingham's other officers and directors and certain
related parties.

Mr. Rundell attests that A&M does not represent any interest
materially adverse to Hingham, its creditors, the United States
Trustee for the Northern District of Texas, any person employed by
the United States Trustee for the Northern District of Texas,
or any other party in interest.

                        About Linden Ponds

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

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

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

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

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


HUDSON HEALTHCARE: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Hudson Healthcare, Inc.
        308 Willow Street
        Hoboken, NJ 07030

Bankruptcy Case No.: 11-33014

Chapter 11 Petition Date: August 1, 2011

Court: U.S. Bankruptcy Court
       District of New Jersey (Newark)

Judge: Donald H. Steckroth

Debtor's Counsel: Adam D. Wolper, Esq.
                  TRENK, DIPASQUALE, WEBSTER, ET AL.
                  347 Mt. Pleasant Avenue, Suite 300
                  West Orange, NJ 07052
                  Tel: (973) 243-8600
                  E-mail: awolper@trenklawfirm.com

                         - and -

                  Henry M. Karwowski, Esq.
                  TRENK, DIPASQUALE, WEBSTER, ET AL.
                  347 Mt. Pleasant Avenue, Suite 300
                  West Orange, NJ 07052
                  Tel: (973) 243-8600
                  Fax: (973) 243-8677
                  E-mail: hkarwowski@trenklawfirm.com

                         - and -

                  Joseph J. DiPasquale, Esq.
                  TRENK, DIPASQUALE, WEBSTER, ET AL
                  347 Mt. Pleasant Avenue, Suite 300
                  West Orange, NJ 07052
                  Tel: (973) 243-8600
                  Fax: (973) 243-8677
                  E-mail: jdipasquale@trenklawfirm.com

                         - and -

                  Sam Della Fera, Esq.
                  TRENK, DIPASQUALE, WEBSTER ET AL.
                  347 Mt. Pleasant Avenue, Suite 300
                  West Orange, NJ 07052
                  Tel: (973) 243-8600
                  Fax: (973) 243-8677
                  E-mail: sdellafera@trenklawfirm.com

                         - and -

                  Thomas Michael Walsh, Esq.
                  TRENK, DIPASQUALE, ET AL.
                  347 Mt. Pleasant Avenue, Suite 300
                  West Orange, NJ 07052
                  Tel: (973) 243-8600
                  Fax: (973) 243-8677
                  E-mail: twalsh@trenklawfirm.com

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

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

The petition was signed by Vincent Riccitelli, CEO.

Debtor's List of 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
UMDNJ-Cashier                      --                   $2,829,784
Liberty Plaza
P.O. Box 2685
New Brunswick, NJ 08903-2685

PSE&G                              --                   $2,502,670
80 Park Plaza, T5D
P.O. Box 570
Newark, NJ 07102

Apollo Health Street, Inc.         --                   $1,599,196
Lockbox #8226
P.O. Box 8500
Philadelphia, PA 19178-8226

District 1199J NJ Benefit Fund     --                   $1,055,045
P.O. Box 998
Newark, NJ 07101

Hoboken Parking Authority          --                   $1,007,740
101 First Street
Hoboken, NJ 07030

City of Hoboken                    --                     $903,638
101 First Street
Hoboken, NJ 07030

Cardinal Health (Value Link)       --                     $751,261
Valuelink Division
P.O. Box 13862
Newark, NJ 07188-0862

Express Scripts, Inc.              --                     $602,734
21653 Network Place
Chicago, IL 60673-1216

MD-X Solutions, Inc.               --                     $593,714
200 No Point Center East, Suite 200A
Alpharetta, GA 30022

Quadramed                          --                     $562,317
P.O. Box 1915
Merrifield, VA 22116-1915

Fresenius Management Svcs Inc.     --                     $515,011
P.O. Box 16343
Chicago, IL 60693

Horizon BC & BS of N.J. Inc.       --                     $499,855
3 Penn Plaza East - PP06n
Newark, NJ 07105-2200

Sitrcit 1199J Pension Fund         --                     $494,417
P.O. Box 998
Newark, NJ 07101

NHSA                               --                     $473,517
1600 Adams Street
Hoboken, NJ 07030

Sodexo Inc.                        --                     $396,122
Box 360170
Pittsburgh, PA 15251-6170

Sodexo Inc.                        --                     $395,568
Box 360170
Pittsburgh, PA 15251-6170

Aramark Healthcare                 --                     $337,665
12483 Collection Center Drive
Chicago, IL 60693

Verizon                            --                     $306,647
P.O. Box 4833
Trenton, NJ 08650

Hoboken Physician Assoc LLC        --                     $299,335
66 West Gilbert Street
Red Bank, NJ 07701

Amerihealth Casualty Services      --                     $290,612
Lockbox #8271
P.O. Box 8500
Philadelphia, PA 19178-8271


HUDSON POINT: Case Summary & Largest Unsecured Creditor
-------------------------------------------------------
Debtor: Hudson Point Realty, LLC
        22 Hudson Drive
        Stony Point, NY 10980

Bankruptcy Case No.: 11-23562

Chapter 11 Petition Date: August 1, 2011

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

Judge: Robert D. Drain

Debtor's Counsel: Ronald De Caprio, Esq.
                  ATTORNEY AT LAW
                  65 West Ramapo Road
                  Garnerville, NY 10923
                  Tel: (845) 354-3212
                  Fax: (845) 354-3213
                  E-mail: rdecaprio@optonline.net

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

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

The petition was signed by Stuart Roberts, member.

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

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
PRIF II Titan, LLC                 22 Hudson Drive      $1,488,914
2160 North Central Road            Stony Point, New
Fort Lee, NJ 07024                 York, 10980


IMMUCOR INC: S&P Assigns Prelim. 'B+' Corporate Credit Rating
-------------------------------------------------------------
Standard & Poor's Ratings Services assigned its preliminary 'B+'
corporate credit to Immucor Inc. "In addition, we assigned a
preliminary 'BB-' debt rating and preliminary '2' recovery rating
to the company's proposed $700 million secured bank facility,
consisting of a $100 million revolving credit facility and $600
million term loan B. The preliminary '2' recovery rating indicates
our expectation of substantial recovery (70% to 90%) in the event
of a default. Proceeds from the term loan, in addition to $400
million of unsecured financing and $715 million of sponsor common
equity will be used to finance the transaction," S&P related.

"The ratings on Norcross, Georgia-based Immucor Inc. reflect our
expectations that revenues and EBITDA will continue to grow in the
low single-digits driven by the trend toward automation and
contract price escalators, despite depressed demand for blood
testing in the U.S. While EBITDA growth should gradually
deleverage the company, we expect Immucor's financial risk profile
to remain highly leveraged over the next year or two because of
debt incurred as part of its acquisition by TPG Capital. Immucor
develops, manufactures, and sells reagents and automated systems
that detect and identify certain properties of the cell and serum
components of human blood for the purpose of blood transfusion.
Its products are used by hospitals, donor centers and reference
laboratories. The company's fair business risk profile reflects
its narrow business focus and modest revenue base, operating risk
with the majority of reagents produced at its Norcross
manufacturing facility, regulatory risk, and lack of geographic
diversity. Strengths include a leading position in the in-vitro
diagnostic (IVD) blood typing and screening market, high
profitability, high barriers to entry and minimal competitive
pressures, and high contract/customer stickiness," S&P stated.

"As a result of the TPG acquisition, we expect initial debt to
EBITDA (adjusted for off-balance-sheet items such as operating
leases) to exceed 6x; we anticipate a $400 million unsecured
financing in addition to the bank loan facility. EBITDA growth and
debt repayment could deleverage the company over the next few
years. However, unless the company's performance significantly
exceeds our expectations of low to mid single growth, we do not
expect debt leverage to decline to under 5x within the next two
years. We expect funds from operations (FFO) to debt to remain
under 12% over that time, consistent with a highly leveraged
financial risk profile," S&P related.

Immucor has a narrow business focus and manufacturing
concentration at its main reagent manufacturing facility,
Norcross. Although barriers to entry are high given the material
U.S. Food and Drug Administration (FDA) involvement in many
aspects of the industry, it also presents regulatory risk. The
Norcross facility remains under a June 2009-issued FDA notice of
intent to revoke (NOIR) its biologics license with respect to its
reagent red blood cells and anti-E (monoclonal) blood grouping
reagent products. This administrative action followed a warning
letter received in May 2008. Immucor implemented a quality process
improvement project to remediate the deficiencies, and a
subsequent inspection was conducted by the FDA in June 2010. In
September 2010, the FDA noted that while the June 2010 inspection
"?disclosed that substantive corrections have been made, some
deviations continue." "Because Immucor made progress on quality
improvement, and provides over one-half of the reagents needed for
blood testing in the U.S. (and Immucor is the sole supplier for
approximately one-third of its red blood cell reagents), we think
it unlikely the FDA would take the extreme position of shutting
down its operations. Nonetheless, the outstanding NOIR heightens
business risk," S&P added.


INSIGNIA HOLDINGS: Case Summary & 2 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Insignia Holdings, LLC
        2160 Spaulding Drive
        Atlanta, GA 30350

Bankruptcy Case No.: 11-72444

Chapter 11 Petition Date: August 1, 2011

Court: U.S. Bankruptcy Court
       Northern District of Georgia (Atlanta)

Debtor's Counsel: Chaz Y. Lazarian, Esq.
                  THE INFINITY GROUP 360, P.C.
                  137 Johnson Ferry Road, Suite 137
                  Marietta, GA 30068
                  Tel: (678) 310-0707

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/ganb11-72444.pdf

The petition was signed by Chaz Y. Lazarian, member.


ISAACSON STRUCTURAL: Court Okays W. Gannon as General Counsel
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of New Hampshire
approved Isaacson Structural Steel, Inc.'s hiring of William S.
Gannon, Esq., as general counsel effective as of the Petition
Date.

Mr. Gannon is assisting the Debtor on issues involving Passumpsic
Savings Bank.  Mr. Gannon's hourly rate is $400 per hour.

                  About Isaacson Structural Steel

Based in Berlin, New Hampshire, Isaacson Structural Steel, Inc.,
filed for Chapter 11 bankruptcy (Bankr. D. N.H. Case No. 11-12416)
on June 22, 2011.  Bankruptcy Judge J. Michael Deasy presides over
the case.

Isaacson Structural Steel estimated both assets and debts of
$10 million to $50 million.  The petition was signed by Arnold P.
Hanson, Jr., president.

An official committee of unsecured creditors has been appointed in
Isaacson Structural Steel's case.

A bankruptcy petition was also filed for Isaacson Steel, Inc.
(Bankr. D. N.H. Case No. 11-12415) on June 22, 2011, estimating
assets and debts of $1 million to $10 million.  The petition was
signed by Arnold P. Hanson, Jr., president.  William S. Gannon,
Esq., also represents Isaacson Steel.


ISHA HOMES: Case Summary & 18 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Isha Homes, LLC
        102 Elsmore Court
        Raleigh, NC 27607

Bankruptcy Case No.: 11-05834

Chapter 11 Petition Date: August 1, 2011

Court: United States Bankruptcy Court
       Eastern District of North Carolina (Wilson)

Judge: J. Rich Leonard

Debtor's Counsel: Travis Sasser, Esq.
                  SASSER LAW FIRM
                  2000 Regency Parkway, Suite 230
                  Cary, NC 27518
                  Tel: (919) 319-7400
                  Fax: (919) 657-7400
                  E-mail: tsasser@carybankruptcy.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 18 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/nceb11-05834.pdf

The petition was signed by Jawahar Muniyandi, managing member.


JCE DELAWARE: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: JCE Delaware, Inc.
        8660 N. US Highway 183A Toll Road
        Leander, TX 78641

Bankruptcy Case No.: 11-11926

Affiliates that simultaneously sought Chapter 11 protection:

        Debtor                           Case No.
        ------                           --------
J.C. Evans Construction Holdings, Inc.,
  a Texas Corporation                    11-11927
J.C. Evans Construction Co. LP           11-11928
J.C. Evans Nevada, LLC                   11-11929
Equus Development, Inc.                  11-11930
Adkins Land Development, LP              11-11931

Chapter 11 Petition Date: August 1, 2011

Court: U.S. Bankruptcy Court
       Western District of Texas (Austin)

Judge: Craig A. Gargotta

Debtors' Counsel: George H. Tarpley, Esq.
                  COX SMITH MATTHEWS INCORPORATED
                  1201 Elm Street, Suite 3300
                  Dallas, TX 75270
                  Tel: (214) 698-7818
                  Fax: (214) 698-7899
                  E-mail: gtarpley@coxsmith.com

                         - and -

                  Mark E. Andrews, Esq.
                  COX SMITH MATTHEWS INCORPORATED
                  1201 Elm Street, Suite 3300
                  Dallas, TX 75270
                  Tel: (214) 698-7800
                  Fax: (214) 698-7899
                  E-mail: mandrews@coxsmith.com

Lead Debtor's
Estimated Assets: $50,000,001 to $100,000,000

Lead Debtor's
Estimated Debts: $50,000,001 to $100,000,000

The list of unsecured creditors filed together with its petition
does not contain any entry.

The petition was signed by Blake Kuhlman, president.


JSP INVESTMENTS: Owes $6.7 Million to State Bank of Lincoln
-----------------------------------------------------------
Bruce Rushton at the State Journal-Register, citing financial
statements filed in the U.S. Bankruptcy court, reports that JSP
Investments owes State Bank of Lincoln more than $6.7 million.

According to the report, State Bank, which is JSP's largest
creditor by far, is seeking to foreclose on more than 120 Sangamon
County properties owned by JSP, most of them in the city of
Springfield.  However, JSP owes hundreds of thousands of dollars
more to other creditors, according to court documents.  Many of
those debts are unsecured.

The report notes that DeWitt Savings Bank in Clinton is carrying
more than $185,000 in JSP debt, with more than $81,000 of that
amount unsecured.  Other unsecured creditors include:

  * Alice F. Polen, mother of JSP president Jeffrey Polen, who is
    owed $485,000 in unsecured debt.

  * U.S. Bank, which is owed $62,000.

  * Chase Bank, which is owed $25,000.

  * Menards, which is owed $22,000.

The report says, in addition, JSP owes Sangamon County nearly
$175,000 in 2009 property taxes that were due last year, and State
Bank of Lincoln said the company also has not paid the first
installment on 2010 taxes that were due in June, bringing the
total tax delinquency to more than $250,000.  Meanwhile, a balance
sheet included in federal court documents shows that JSP turned a
net profit of more than $372,000 in 2009.  Profits were also in
the six figures last year, according to JSP's court filings.

Jeffrey Polen said he paid State Bank instead of the county.

                     About JSP Investments

Based in Springfield, Illinois J.S.P. Investments, Inc., aka JSP
Investments, Inc., filed for Chapter 11 bankruptcy protection on
June 24, 2011 (Bankr. C.D. Ill. Case No. 11-71692).  Judge Mary P.
Gorman presides over the case.  James R. Enlow, Esq., represents
the Debtor.  The Debtor estimated both assets and debts of between
$1 million and $10 million.

Jeffrey Polen, president of JSP, said the firm has sought Chapter
11 to stop a pending foreclosure action in Sangamon County Circuit
Court and save people's homes.  JSP pegs the value of that
property at slightly more than $2.25 million, which leaves the
bank with nearly $4.7 million in unsecured debt.

The bank has said reorganization under Chapter 11 is impossible,
and the properties, which have already suffered from lack of
maintenance, will continue to crumble as time passes.


KCXP INVESTMENTS: Court Okays Dismissal After Deal With Lender
--------------------------------------------------------------
On July 29, 2011, the U.S. Bankruptcy Court for the District of
Nevada entered its order dismissing, with prejudice, the Chapter
11 case of KCXP Investments, LLC.

As reported in the TCR on July 11, 2011, the Debtor asked the
Bankruptcy Court to enter an order dismissing its Chapter 11
case.

Kevin A. Darby, Esq., of Darby Law Practice, Ltd., counsel for the
Debtor, says that the Debtor has already successfully reached an
agreement with its secured creditor, Security First Bank, which
will allow the Debtor to continue to operate its business without
bankruptcy court protection and the continued accumulation of
administrative fees.  In addition, the Debtor will pay all
unsecured creditors in full outside of bankruptcy.

According to Mr. Darby, the Debtor has negotiated the Forbearance
Agreement with Security First Bank, which resolved the pending
foreclosure on the Jet Ranch Complex.   The Debtor is willing to
pay all unsecured debts in full, and has reached out to unsecured
creditors to negotiate repayment terms.

Because Debtor has resolved the issues that caused the filing of
this case and is willing to pay all of its debts in full outside
of this Bankruptcy Case, Mr. Darby states that cause exists to
dismiss this case.  Dismissal will also pave the way for the
Debtor to sell hangar units and generate funds to pay creditors.
At the same time, it will eliminate the continued accrual of
administrative expenses such as attorneys fees, costs and U.S.
Trustee's Fees.

                      About KCXP Investments

Dayton, Nevada-based KCXP Investments, LLC, dba Jet Ranch Hangar
Community Association, owns and operates an airplane hangar
located at the Carson City Airport in Carson City, Nevada, which
consists of 12-buildings totaling 82,400 square feet of hangar and
office space situated on 3.3 acres of leased real estate at the
east end of the Carson City Airport.

KCXP Investments filed for Chapter 11 bankruptcy protection
(Bankr. D. Nev. Case No. 10-54847) on Dec. 14, 2010.  Kevin A.
Darby, Esq., at Darby Law Practice, Ltd., serves as the Debtor's
bankruptcy counsel.  According to its schedules, the Debtor
disclosed $12,588,750 in total assets and $6,027,645 in total
debts as of the Petition Date.


KEVIN LEWIS: Arkansas Attorney Admits to $47-Mil. Ponzi Scheme
--------------------------------------------------------------
Ian Thoms at Bankruptcy Law360 reports that an Arkansas lawyer and
businessman admitted Wednesday to operating a $47 million Ponzi
scheme and causing the collapse of a local bank in one of the
largest cases of fraud in the state's history, according to
prosecutors.

Kevin Harold Lewis, 43, copped to one count of bank fraud and
faces up to 30 years in prison, though U.S. Attorney Christopher
Thyer plans to request a lighter sentence of between 10 and 13
years, according to a statement obtained by Law360.


KIMBALL HILL: Debtors' Contractor Preference Claims Fail
--------------------------------------------------------
WestLaw reports that a complaint failed to state claims to avoid
the prepetition payments made by a Chapter 11 debtor to
contractors as preferential transfers.  The complaint alleged that
the payments were made for goods or services provided to the
debtor's affiliates, and thus did not allege the requisite
antecedent debt owed by the debtor to the contractors, despite an
assertion that the debtor issued "certain work orders" to the
contractors for the goods or services provided to the affiliates.
In re Kimball Hill, Inc., --- B.R. ----, 2011 WL 2182429 (Bankr.
N.D. Ill.).

                       About Kimball Hill

Headquartered in Rolling Meadow, Illinois, Kimball Hill Inc. --
http://www.kimballhillhomes.com/-- was one of the largest
privately-owned homebuilders and one of the 30 largest
homebuilders in the United States, as measured by home deliveries
and revenues, before filing for bankruptcy.  The company operated
within 12 markets, including, among others, Chicago, Dallas, Fort
Worth, Houston, Las Vegas, Sacramento and Tampa, in five regions:
Florida, the Midwest, Nevada, the Pacific Coast and Texas.

Kimball Hill, Inc., and 29 of its affiliates filed for Chapter 11
protection on April 23, 2008 (Bankr. N.D. Ill. Lead Case No. 08-
10095).  Ray C. Schrock, Esq., at Kirkland & Ellis LLP, represents
the Debtors in their restructuring efforts.  The Debtors'
consolidated financial condition as of Dec. 31, 2007, reflected
total assets of $795,473,000 and total debts $631,867,000.

Kimball Hill filed a Chapter 11 plan of liquidation on
December 2, 2008, which provides for the winding down of the
Debtors' business.  With the support of the official committee
of unsecured creditors and the company's senior lenders (estimated
to recover 37% to 48% of their claims), the plan was confirmed and
took effect on Mar. 24, 2009.


KT SPEARS: Can Access Cash from Greenhill Apartments Until Sept. 6
------------------------------------------------------------------
The U.S. Bankruptcy Court for the District of South Carolina
approved a stipulation between KT Spears Creek, LLC, and RBC Bank
(USA) formerly known as RBC Centura Bank, authorizing cash
collateral access until Sept. 6, 2011.

The Debtor is borrower under that certain commercial promissory
note dated as of May 25, 2006, in the principal amount of
$19,700,000, with interest at the initial rate of RBC Centura
LIBOR base rate plus 1.85% per annum.  As of the Petition Date,
the Debtor's obligation under the RBC Note was $22,646,397, plus
interest at an allowable rate.

On Nov. 12, 2010, the Court of Common Pleas entered an order
appointing Henry W. Moore of Colliers International as receiver
over certain property, including the Greenhill Apartments and
rents and profits therefrom.

The Debtor and RBC Bank entered into an agreement to allow cash
usage and to allow the elimination of the receiver and its control
of rental income generated by the Greenhill Apartments.  The
Debtor through GREP Atlantic, L.P., the property manager of the
Greenhill Apartments, has authority to use funds which RBC Bank
holds a first priority security interest.

As part of the stipulation, the Debtor and RBC Bank have agreed
that Greystar will continue to operate the Greenhill Apartments
and will continue to collect all rental and deposit checks from
the tenants and the receiver will turn over any and all of its
books and records to Greystar.

Greystar is also authorized to:

   -- continue to pay all normal and customary operating expenses
   of the Greenhill Apartments, in the event that the total
   operating expenses will have a variance of 10%, Greystar or the
   Debtor will seek permission from RBC Bank for payment of such
   expenses;

   -- turn over to RBC Bank all excess proceeds generated by the
   property after the payment of normal operating expenses, in no
   case will any cash be turned over to the Debtor without further
   order of the Court; and

   -- continue to use the existing bank accounts, cash management
   procedures and policies and any business forms necessary to
   operate the Greenhill Apartments.

Any continued use of the cash usage thereafter will be subject to
further hearing and order of the Court, or written agreement among
RBC Bank and the Debtor.

First Savers Bank and First Palmetto Savings Bank have indicated
in Court that they have no interest in the rents from the
Greenhill Apartments and have no objection to the entry of the
order.

RBC Bank is represented by:

         Constance L. Young, Esq.
         JOHNSTON, ALLINSON & HORD, PA
         1065 East Morehead Street
         Charlotte, NC 28204
         Tel: (704) 998-2259
         Fax: (704) 376-1628
         E-mail: cyoung@jahlaw.com

                - and -

         R. William Metzger, Jr., Esq.
         Thomas W. Bunch, II, Esq.
         ROBINSON MCFADDEN & MOORE, P.C.
         1901 Main Street, Suite 1200
         Columbia, SC 29201
         Tel: (803) 227-1130
         Fax: (803) 744-1150
         E-mail: bmetzger@robinsonlaw.com
                 tbunch@robinsonlaw.com

                     About KT Spears Creek, LLC

KT Spears Creek, LLC, in Houston, Texas, filed for Chapter 11
bankruptcy (Bankr. S.D. Tex. Case No. 11-33991) on May 3, 2011,
Judge Letitia Z. Paul presiding.  Magdalene Duchamp Conner, Esq.,
at Okin Adams & Kilmer LLP, serves as the Debtor's bankruptcy
counsel.  The Debtor estimated $10 million to $50 million in both
assets and debts.  The petition was signed by Kyle D. Tauch, sole
member.

The Hon. Letitia Z. Paul transferred the Debtor's Chapter 11 case
to the Bankruptcy Court for the District of South Carolina.


KT SPEARS: RBC Bank, Seeking Foreclosure, Wants Case Dismissal
--------------------------------------------------------------
RBC Bank (USA), Inc., asks the U.S. Bankruptcy Court for the
District of South Carolina, Columbia Division, to dismiss the
Chapter 11 case of KT Spears Creek, LLC, on the basis that the
case was filed in bad faith to thwart RBC Bank from completing its
foreclosure of the property.

The case had been in the hands of a state court receiver for
almost six months prior to the bankruptcy filing.

RBC Bank tells the Court that it is owed a total of $22,494,711 as
of the Petition Date, consisting of principal of $19,015,447 and
interest of $3,479,264, secured by the Debtor's multi-family
apartment complex located in Richland County, South Carolina.

In support of its claim that this is a "bad faith" filing, RBC
Bank relates that the Debtor is as single asset real entity, has
no employes, the cash flow generated by the apartment complex is
insufficient to fund a confirmable plan of reorganization, and the
Debtor has no or relatively few unsecured creditors.

Further, RBC Bank says that prior to the filing of the
foreclosure, Kyle Tauch, the Debtor's principal, caused over
$350,000 to be diverted to an affiliated company and failed to pay
over the $800,000 in taxes owed on the property securing the
Bank's debt.  RBC Bank notes also that this case is nothing more
that a dispute between the Debtor and its secured lenders, and
that it believes that that Debtor has no hope for a successful
Plan of Reorganization.

As reported in the TCR on July 11, 2011, Judge Letitia Z. Paul of
the U.S. Bankruptcy Court for the Southern District of Texas
transferred the Chapter 11 case of KT Spears Creek, LLC, to the
U.S. Bankruptcy Court for the District of South Carolina.

As reported in the Troubled Company Reporter on June 17, 2011,
RBC Bank told the Court that the bankruptcy filing was designed
to thwart the bank from completing its foreclosure of a multi-
family apartment complex located in Richland County, South
Carolina.

                    About KT Spears Creek, LLC

KT Spears Creek, LLC, in Houston, Texas, filed for Chapter 11
bankruptcy (Bankr. S.D. Tex. Case No. 11-33991) on May 3, 2011,
Judge Letitia Z. Paul presiding.  Magdalene Duchamp Conner, Esq.,
at Okin Adams & Kilmer LLP, serves as the Debtor's bankruptcy
counsel.  The Debtor estimated $10 million to $50 million in both
assets and debts.  The petition was signed by Kyle D. Tauch, sole
member.


KTLA LLC: Wants Access to California Properties' Cash Collateral
----------------------------------------------------------------
KTLA LLC, asks the U.S. Bankruptcy Court for the Northern District
of California, to approve four interim stipulations regarding the
use of the cash collateral and provide adequate protection.

The Debtor proposes to use the cash collateral of certain real
property located at:

   -- 709 South Mariposa Avenue in Los Angeles, California;

   -- 1209 Lake Street in Los Angeles, California;

   -- 1200 Hoover Street in Los Angeles, California; and

   -- 720 South Normandie Avenue in Los Angeles, California.

                             About KTLA LLC

San Francisco, California-based KTLA LLC filed for Chapter 11
bankruptcy (Bankr. N.D. Calif. Case No. 11-32401) on June 27,
2011.  Judge Thomas E. Carlson presides over the case.  Reno F.R.
Fernandez, Esq., at MacDonald and Assoc.  Iain A. Macdonald, Esq.,
and Reno F.R. Fernandez, Esq. -- iain@macdonaldlawsf.com and
r.fernandez@macdonaldlawsf.com -- at Macdonald and Associates,
serve as bankruptcy counsel.  The Debtor disclosed $25,543,987 in
assets and $18,798,387 in liabilities as of the Chapter 11 filing.
The petition was signed by Graham Seel, SVP, California Mortgage
and Realty.


LEHMAN BROTHERS: Palmdale Needs Stay Relief, 9th Circuit Says
-------------------------------------------------------------
Dan Rivoli at Bankruptcy Law360 reports that the Ninth Circuit on
Wednesday affirmed a ruling that a bankrupt real estate group
seeking to subordinate a Lehman Brothers Holdings Inc. unit's
claims must obtain relief from Lehman's automatic stay in New
York, where its bankruptcy proceedings are being held.

A bankruptcy appellate panel for the Ninth Circuit had ruled that
Palmdale Hills Property LLC's bid in a California bankruptcy court
to subordinate Lehman Commercial Paper Inc.'s claims was an
affirmative action that violated an automatic stay initiated for
the financial firm's own bankruptcy proceedings, according to
Law360.

                      About SunCal Companies

SunCal Companies -- http://www.suncal.com/-- has more than
250,000 residential lots and 10 million square feet of commercial
space in various stages of development throughout California,
Arizona, Nevada and New Mexico.

Gramercy Warehouse Funding LLC and several creditors filed
involuntary petitions each against LBREP/L-SunCal Master I
LLC, LBREP/L-SunCal McAllister Ranch LLC, LBREP/L-SunCal McSweeny
Farms LLC, and LBREP/L-SunCal Summerwind Ranch LLC on Sept. 11,
2008 (Bankr. C.D. Calif Case No. 08-15588, 08-15637, 08-15639, and
08-15640).  Daniel H. Reiss, Esq., at Levene, Neale, Bender,
Rankin & Brill represents the petitioners.

SunCal affiliates led by Palmdale Hills Property, LLC, filed
voluntary Chapter 11 petitions (Bankr. C.D. Calif. Case No.
08-17206) on Nov. 6, 2008.  Affiliates that also filed separate
Chapter 11 petitions include: SunCal Beaumont Heights, LLC; SunCal
Johannson Ranch, LLC; SunCal Summit Valley, LLC; SunCal Emerald
Meadows LLC; SunCal Bickford Ranch, LLC; SunCal Communities I,
LLC; SunCal Communities III, LLC; and SJD Development Corp.

SunCal Companies is not in bankruptcy.

Paul J. Couchot, Esq., at Winthrop Couchot P.C., represents
Palmdale Hills in its restructuring effort.  The Company estimated
assets and debts of $100 million to $500 million in its Chapter 11
petition.

                     About Lehman Brothers

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

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

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

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

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

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

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

                International Operations Collapse

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

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

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


LINDEN PONDS: Can Employ Thomas Brod as Bond Consultant
-------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
granted Linden Ponds, Inc., permission to employ Thomas L. Brod
t/a North Shores Consulting as its bond consultant, nunc pro tunc
to the Petition Datge.

As reported in the TCR on July 6, 2011, Mr. Brod will serve as
Linden Ponds' business representative with respect to
restructuring its 2007 bonds and replacing those bonds by the
issuance of replacement bonds to be known as the 2011 bonds.  He
has been working with Linden Ponds in the restructuring
of its debts and obligations for several months.

Linden Pond proposes to pay Mr. Brod $300 per hour for his
services.  Prior to the Petition Date, Mr. Brod devoted 20 hours
per week in consulting services to the Debtor.

Linden Pond does not seek authority to engage Mr. Brod as a
professional under section 327 of the Bankruptcy Code.  Instead,
the Debtor seeks to retain Mr. Brod pursuant to section 363 of the
Bankruptcy Code.  The Debtor proposes that it compensate Mr. Brod
weekly for the services he provides.

                        About Linden Ponds

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

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

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

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

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


LOTSA ENTERPRISES: Case Summary & 19 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Lotsa Enterprises, Inc.
          dba Huckleberry Mountain
        P.O. Box 1579
        360 N. Washington
        Afton, WY 83110

Bankruptcy Case No.: 11-20856

Chapter 11 Petition Date: August 1, 2011

Court: U.S. Bankruptcy Court
       District of Wyoming (Cheyenne)

Judge: Peter J. McNiff

Debtor's Counsel: Ken McCartney, Esq.
                  THE LAW OFFICES OF KEN MCCARTNEY, P.C.
                  P.O. Box 1364
                  Cheyenne, WY 82003
                  Tel: (307) 635-0555
                  Fax: (307) 635-0585
                  E-mail: bnkrpcyrep@aol.com

Scheduled Assets: $1,640,186

Scheduled Debts: $1,319,368

A list of the Company's 19 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/wyb11-20856.pdf

The petition was signed by Gary Eugene Nagel, president/director.


MARITIME COMMUNICATIONS: Voluntary Chapter 11 Case Summary
----------------------------------------------------------
Debtor: Maritime Communications/Land Mobile, LLC
        P.O. Box 1076
        Columbus, MS 39703

Bankruptcy Case No.: 11-13463

Chapter 11 Petition Date: August 1, 2011

Court: United States Bankruptcy Court
       Northern District of Mississippi (Aberdeen)

Judge: David W. Houston III

Debtor's Counsel: Craig M. Geno, Esq.
                  HARRIS JERNIGAN & GENO, PLLC
                  P.O. Box 3380
                  Ridgeland, MS 39158-3380
                  Tel: (601) 427-0048
                  E-mail: cmgeno@hjglawfirm.com

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

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

The petition was signed by Sandra M. DePriest, president.

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


MC AVIATION: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: MC Aviation, Corp.
        7530 Hayvenhurst Avenue
        Van Nuys, CA 91406

Bankruptcy Case No.: 11-19214

Chapter 11 Petition Date: August 1, 2011

Court: U.S. Bankruptcy Court
       Central District of California (San Fernando Valley)

Judge: Victoria S. Kaufman

Debtor's Counsel: Steven R. Fox, Esq.
                  LAW OFFICES OF STEVEN R. FOX
                  17835 Ventura Boulevard, Suite 306
                  Encino, CA 91316
                  Fax: (818) 774-3707
                  E-mail: emails@foxlaw.com

Scheduled Assets: $1,531,295

Scheduled Debts: $2,872,539

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/cacb11-19214.pdf

The petition was signed by Joe McGuire, president.


MERIDIAN MORTGAGE: Founder Pleads Guilty to $100-Mil. Fraud
-----------------------------------------------------------
Ian Thoms at Bankruptcy Law360 reports that Frederick Darren Berg,
the bankrupt founder of Meridian Mortgage, pled guilty in a
Washington state federal court on Tuesday, admitting he stole $100
million in an investment fraud scheme.

Law360 relates that Frederick Darren Berg, 49, copped to counts of
wire fraud, money laundering and bankruptcy fraud.  According to
prosecutors, he duped more than 1,000 investors into thinking his
real estate funds generated profits through property sales - when,
in fact, he used the money to pay off earlier investors and buy a
mansion, jets and luxury cars.

                      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.


MERRITT AND WALDING: Files Schedules of Assets and Liabilities
--------------------------------------------------------------
Merritt and Walding Properties, LLP, filed with the U.S.
Bankruptcy Court for the Southern District of Alabama its
schedules of assets and liabilities, disclosing:

    Name of Schedule              Assets         Liabilities
    ----------------            -----------      -----------
A. Real Property                $4,503,530
B. Personal Property            $1,663,227
C. Property Claimed as
    Exempt
D. Creditors Holding
    Secured Claims                                $7,595,580
E. Creditors Holding
    Unsecured Priority
    Claims                                                $1
F. Creditors Holding
    Unsecured Non-priority
    Claims                                           $90,010
                                -----------      -----------
       TOTAL                     $6,166,757       $7,685,591

A copy of the Schedules of Assets and Liabilities is available at:

        http://bankrupt.com/misc/merrittandwalding.SAL.pdf

               About Merritt and Walding Properties

Merritt and Walding Properties, LLP, in Pt. Clear, Alabama, filed
for Chapter 11 bankruptcy (Bankr. S.D. Ala. Case No. 11-02322) on
June 10, 2011.  Irvin Grodsky, P.C., serves as the Debtor's
bankruptcy counsel.  In its petition, the Debtor estimated assets
and debts of $10 million to $50 million.  The petition was signed
by Richard T. Merritt and R. Fred Walding, as general partners.

An affiliate of the debtor, Richard T. Merritt (Bankr. S.D. Ala.
Case No. 11-00380) filed for bankruptcy on Feb. 1, 2011.

An Official Committee of Unsecured Creditors has not been
appointed in the case.


METALS USA: S&P Raises Corp. Credit Rating to B+; Outlook Stable
----------------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
ratings on Fort Lauderdale, Fla.-based Metals USA Holdings Corp.
and the company's wholly owned subsidiary, Metals USA Inc., to
'B+' from 'B'.

"The upgrade reflects our expectation that Metals USA's operating
performance will continue to improve year over year," said
Standard & Poor's credit analyst Maurice Austin. The company
posted better-than-expected results for the second quarter
following its acquisition of metals distributor The Richardson
Trident Co. in March 2011; increased volumes and pricing due to
better end-market demand also contributed to the quarter's growth.

Standard & Poor's also raised its issue-level rating on Metals USA
Inc.'s senior secured notes due 2015 to 'B+' from 'B'. The
recovery rating remains '3', which indicates the expectation of
meaningful (50% to 70%) recovery for lenders in the event of a
payment default.

The rating outlook is stable, reflecting Standard & Poor's
expectation that Metals USA's credit metrics will improve in 2011
and 2012 to levels that are commensurate with the higher rating
given its vulnerable business risk profile. Standard & Poor's
expects the company to continue its aggressive acquisition
strategy but believes that any debt financing for acquisitions
announced in the next year will maintain credit measures in line
with the 'B+' rating.

"Although we acknowledge that these credit measures are more
indicative of a significant financial risk profile, we assess
Metals USA's financial risk profile as aggressive (a weaker
classification) due to its history of financing acquisitions with
debt," Mr. Austin said. "We assess Metals USA's business risk
profile as vulnerable based on the significant volatility
associated with its markets and cash flows and its thin operating
margins."

Metals USA, with about $1.6 billion of revenue for the 12 months
ended June 30, 2011, is one of the largest metals processors and
distributors in the highly fragmented North American market. The
company's product markets are highly competitive and cyclical,
resulting in the potential for wide swings in overall
profitability. However, the company benefits from a variable cost
structure in which fixed costs constitute about 30% of total
expenses.


MGM RESORTS: S&P Puts CCC+ Corp. Credit Rating on Watch Positive
----------------------------------------------------------------
Standard & Poor's Ratings Services placed its 'CCC+' corporate
credit rating on Las Vegas-based MGM Resorts International, as
well as all related issue-level ratings, on CreditWatch with
positive implications.

"The CreditWatch listing reflects our belief that MGM Resorts will
continue to benefit from improving performance trends on the Las
Vegas Strip, particularly on the lodging side of the business,"
said Standard & Poor's credit analyst Ben Bubeck.  MGM performed
well in the quarter ended March 31, 2011, posting consolidated
wholly owned EBITDA growth of nearly 9%, the company's first
growth quarter since 2007.  While gaming revenues were slightly
down, revenue per available room (RevPAR) at MGM's Las Vegas Strip
properties grew more than 16%, as average daily rate benefited
from increased visitation and a higher convention room mix.
"Based on recently reported results from MGM's peers, in addition
to data provided by the Nevada Gaming Commission and other public
sources, we expect MGM's performance remained solid in the quarter
ended June 30, 2011, and we believe a positive growth trend may be
sustainable," S&P said.


MONEYGRAM INT'L: Fitch Lifts Rating on 2nd Lien Notes to 'BB-'
--------------------------------------------------------------
Fitch Ratings has published updated recovery analyses for U.S.
technology companies, including:

   -- First Data Corp.

   -- Moneygram International, Inc.

   -- Sanmina-SCI Corp. (Sanmina)

   -- SunGard Data Systems, Inc.

   -- Unisys Corporation

In addition, as a result of updating its Recovery Ratings (RR) for
U.S. technology companies, Fitch Ratings has upgraded this rating
for Moneygram:

Moneygram Payment Systems Worldwide, Inc.

   -- Senior secured second lien notes upgraded to 'BB-/RR3' from
      'B+/RR4'.

Fitch affirms these Moneygram ratings with a Stable Outlook:

Moneygram International Inc.:

   -- Issuer Default Rating (IDR) at 'B+'.

Moneygram Payment Systems Worldwide, Inc.

   -- IDR at 'B+';

   -- Senior Secured Bank Facility at 'BB+/RR1'.


MORGANS HOTEL: To Operate Lifestyle Hotel as Part of Baha Mar
-------------------------------------------------------------
Morgans Hotel Group Co. entered into a hotel management and
residential licensing agreement for a 310-room Mondrian-branded
hotel, to be the lifestyle hotel destination in the 1,000 acre
destination resort metropolis, Baha Mar Resort, in Nassau, The
Bahamas.  This hotel is expected to represent the fifth Mondrian
hotel in the expansion of the Company's iconic brand.

Upon completion and opening of the hotel, the Company will operate
Mondrian at Baha Mar pursuant to a 20-year management and
residential licensing agreement.  The Company is required to fund
approximately $10 million of key money just prior to and upon the
opening of the hotel.  At the signing of the management agreement,
$10 million was placed in escrow and the Company is in the process
of replacing this obligation with a $10 million standby letter of
credit with a term of up to 48 months.

Upon completion and opening of the hotel, MHG will operate
Mondrian at Baha Mar pursuant to a 20-year management agreement.
The hotel is scheduled to open in late 2014.

"We are excited to announce our involvement in the Baha Mar Resort
and the further expansion of our Mondrian brand," said Michael
Gross, Chief Executive Officer of Morgans Hotel Group.  "The fact
that we were hand-selected to operate the lifestyle hotel within
the Baha Mar Resort speaks volumes to the future growth potential
of our Company and our unique brands.  We believe this deal will
allow Morgans to strengthen its brand portfolio while generating
attractive management and branding fee returns."

Mondrian at Baha Mar is expected to include 188 hotel keys, 122
Mondrian-branded residential keys, a spacious ocean view lobby,
dedicated meeting and function space, multiple swimming pools and
cabanas, fitness center and spa, several food and beverage outlets
including two full service restaurants, lounge/club and pool
offerings.

The Baha Mar Resort is being built on 1,000 acres featuring over a
half mile of contiguous beachfront property at the heart of the
revitalization of the famed "Bahamian Riviera" on New Providence
Island.  The destination resort will encompass six hotels along
with an 18-hole Jack Nicklaus signature golf course; "Waterside
Place," a themed retail and dining experience; over 180,000 square
feet of convention, conference and meeting space; and the largest
casino in the Caribbean.

                           About Baha Mar

As the Caribbean's largest single-phase hospitality investment in
history, Baha Mar is an unprecedented resort development expected
to make The Bahamas one of the premier tourist destinations in the
world when it opens in late 2014.  Shifting the sands of global
tourism, Baha Mar's groundbreaking in early 2011 represented a
bold vision in an era of economic uncertainty.  The first
development of its size and magnitude in the Caribbean, the Baha
Mar project will capture the true spirit of the region, and merges
the most prestigious collection of hospitality brands in the
world.

                      About Morgans Hotel Group

Based in New York, Morgans Hotel Group Co. (Nasdaq: MHGC) --
http://www.morganshotelgroup.com/-- is widely credited as the
creator of the first "boutique" hotel and a continuing leader of
the hotel industry's boutique sector.  Morgans Hotel Group
operates and owns, or has an ownership interest in, Morgans,
Royalton and Hudson in New York, Delano and Shore Club in South
Beach, Mondrian in Los Angeles and South Beach, Clift in San
Francisco, Ames in Boston, and Sanderson and St Martins Lane in
London.  Morgans Hotel Group and an equity partner also own the
Hard Rock Hotel & Casino in Las Vegas and related assets.  Morgans
Hotel Group also manages hotels in Isla Verde, Puerto Rico and
Playa del Carmen, Mexico.  Morgans Hotel Group has other property
transactions in various stages of completion, including projects
in SoHo, New York and Palm Springs, California.

The Company's balance sheet at June 30, 2011, showed
$604.36 million in total assets, $655.66 million in total
liabilities, and a $51.29 million total stockholders' deficit.

The Company reported a net loss of $83.64 million on
$236.37 million of total revenues for the year ended Dec. 31,
2010, compared with a net loss of $101.60 million on $225.05
million of total revenues during the prior year.


MORGANS HOTEL: Incurs $11.8 Million Net Loss in June 30 Quarter
---------------------------------------------------------------
Morgans Hotel Group Co. reported a net loss of $11.80 million on
$54.21 million of total revenues for the three months ended
June 30, 2011, compared with a net loss of $21.50 million on
$60.19 million of total revenues for the same period during the
prior year.

The Company also reported a net loss of $44.67 million on
$108.61 million of total revenues for the six months ended June
30, 2011, compared with a net loss of $37.61 million on
$113.57 million of total revenues for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed
$604.36 million in total assets, $655.66 million in total
liabilities, and a $51.29 million total stockholders' deficit.

Michael Gross, CEO of the Company, said, "We are moving quickly to
become a global leader in lifestyle hospitality management.  The
goal is and always will be clear: to drive growth and long term
shareholder value. Four months into the new management structure,
we've acted swiftly to position ourselves for success.  Asset
sales and a new $100 million credit facility have allowed us to
address key short-term debt maturities while providing liquidity
to grow.  Second quarter results outperformed industry averages
across all our markets and we're particularly pleased with the
early success of the Mondrian SoHo, which we view as a reflection
of our brands' untapped growth potential.  We're excited about our
robust development pipeline that is already beginning to show
results, as reflected by the just-announced Mondrian management
agreement at Baha Mar."

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

                     About Morgans Hotel Group

Based in New York, Morgans Hotel Group Co. (Nasdaq: MHGC) --
http://www.morganshotelgroup.com/-- is widely credited as the
creator of the first "boutique" hotel and a continuing leader of
the hotel industry's boutique sector.  Morgans Hotel Group
operates and owns, or has an ownership interest in, Morgans,
Royalton and Hudson in New York, Delano and Shore Club in South
Beach, Mondrian in Los Angeles and South Beach, Clift in San
Francisco, Ames in Boston, and Sanderson and St Martins Lane in
London.  Morgans Hotel Group and an equity partner also own the
Hard Rock Hotel & Casino in Las Vegas and related assets.  Morgans
Hotel Group also manages hotels in Isla Verde, Puerto Rico and
Playa del Carmen, Mexico.  Morgans Hotel Group has other property
transactions in various stages of completion, including projects
in SoHo, New York and Palm Springs, California.

The Company reported a net loss of $83.64 million on
$236.37 million of total revenues for the year ended Dec. 31,
2010, compared with a net loss of $101.60 million on $225.05
million of total revenues during the prior year.


MOTORS LIQUIDATION: Administrator Files June Qtr GUC Trust Reports
------------------------------------------------------------------
On Aug. 1, 2011, Wilmington Trust Company, solely in its capacity
as trust administrator and trustee of the Motors Liquidation
Company GUC Trust, acting pursuant to Section 6.2 of the Motors
Liquidation Company GUC Trust Agreement dated as of March 30,
2011, and between the parties thereto (the GUC Trust Agreement"),
filed the GUC Trust Reports (as such term is defined in the GUC
Trust Agreement) as of June 30, 2011, with the U.S. Bankruptcy
Court for the Southern District of New York.

The GUC Trust Reports have been provided to comply with the GUC
Trust Agreement and the March 31, 2011 order confirming Motors
Liquidation Company and its debtor affiliates' Second Amended
Joint Chapter 11 Plan of liquidation dated March 18, 2011, and for
informational purposes only and may not be relied upon to evaluate
the merits of investing in any securities or interests referred to
herein.

As of June 30, 2011, the Motors Liquidation Company GUC Trust had
total assets of $2.420 billion in total assets, $274.5 million in
total liabilities, and $2.146 billion in net assets in
liquidation.

The GUC Trust ended June 2011 with $226,000 in cash and cash
equivalents.

The Motors Liquidation Company GUC Trust is a successor to Motors
Liquidation Company (formerly known as General Motors Corp.)
("MLC") within the meaning of Section 1145 of the United States
Bankruptcy Code ("Bankruptcy Code").  The GUC Trust holds,
administers and directs the distribution of certain assets
pursuant to the terms and conditions of the Motors Liquidation
Company GUC Trust Agreement (the "GUC Trust Agreement"), dated as
of March 30, 2011, and pursuant to the Second Amended Joint
Chapter 11 Plan (the "Plan"), dated March 18, 2011, of MLC and its
debtor affiliates (collectively, along with MLC, the "Debtors"),
for the benefit of holders of allowed general unsecured claims
against the Debtors.

                         Purpose of Trust

The GUC Trust was formed on March 30, 2011, as a statutory trust
under the Delaware Statutory Trust Act, for the purpose of
resolving all disputed outstanding general unsecured claims
against the Debtors (including determining what amount, if any, of
each such claim will be allowed) and distributing the GUC Trust's
distributable assets.

The Plan generally provides for the distribution of certain shares
of common stock ("New GM Common Stock") of the new General Motors
Corp. ("New GM") and certain warrants for purchase of shares of
such stock (the "New GM Warrants", and together with the "New GM
Common Stock", the "New GM Securities") to holders of Allowed
General Unsecured Claims pro rata by the amount of such Allowed
Claim.  In addition, each holder of an Allowed General Unsecured
Claim will retain a contingent right to receive, on a pro rata
basis, additional shares of New GM Common Stock and New GM
Warrants (if and to the extent such New GM Common Stock and New GM
Warrants are not required for the satisfaction of previously
disputed general unsecured claims) and cash, if any, remaining at
the dissolution of the GUC Trust.

The GUC Trust is administered by Wilmington Trust Company, solely
in its capacity as the trust administrator and trustee (the "GUC
Trust Administrator").

The activities of the GUC Trust Administrator are overseen by FTI
Consulting, Inc., solely in its capacity as monitor (the "GUC
Trust Monitor").

                       Plan of Liquidation

On March 31, 2011, the date the Plan became effective (the
"Effective Date"), there were approximately $29,771 million in
Allowed General Unsecured Claims (the "Initial Allowed General
Unsecured Claims"). In addition, as of the Effective Date, there
were approximately $8,154 million disputed general unsecured
claims which represents liquidated disputed claims and a
Bankruptcy Court ordered reserve for unliquidated disputed claims
( "Disputed General Unsecured Claims"), but does not reflect
potential Avoidance Action General Unsecured Claims (as defined
below). The total aggregate amount of general unsecured claims,
both allowed and then disputed, asserted against the Debtors,
inclusive of the potential Avoidance Action General Unsecured
Claims (as defined below), was approximately $39,425 million as of
the Effective Date.

A copy of the GUC Trust Reports is available at:

                       http://is.gd/zwWli7

                     About Motors Liquidation

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

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

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


MOUNTAIN PROVINCE: Achieves Key Milestone at Kennady Lake
---------------------------------------------------------
Mountain Province Diamonds Inc. announced that the Gahcho Kue
Environmental Impact Review Panel has informed the Gahcho Kue
project operator, De Beers Canada Inc., that the Gahcho Kue
Environmental Impact Statement conforms to the terms of reference
set by the Panel, which clears the way for the Environmental
Impact Review to commence.

Commenting, Mountain Province Diamonds President and CEO, Patrick
Evans, said: "The Panel's ruling represents a major milestone for
our joint venture with De Beers.  The EIS is a massive body of
very detailed scientific work exceeding 11,000 pages.  We now look
forward to the commencement of the environmental review which will
clear the way for the permitting of what we expect will be
Canada's next great diamond mine."

The Gahcho Kue EIR was ordered by the Mackenzie Valley
Environmental Impact Review Board, which in turn has appointed the
Panel to conduct the Review for an open-pit diamond mine at
Kennady Lake in Canada's Northwest Territories.  The Review is
divided into start-up, analytical, hearing and decision phases.
The Review is currently in the analytical phase.  Based on a work
plan provided by the Panel, the Review is expected to take
approximately two years.

The Gahcho Kue diamond project at Kennady Lake will be the fourth
diamond mine developed in Canada's Northwest Territories.  Kennady
Lake is situated approximately 90 kilometres south-east of De
Beers' Snap Lake diamond mine.  De Beers also operates the Victor
diamond mine in northern Ontario.

                      About Mountain Province

Headquartered in Toronto, Canada, Mountain Province Diamonds Inc.
(TSX: MPV, NYSE AMEX: MDM) -- http://www.mountainprovince.com/--
is a Canadian resource company in the process of permitting and
developing a diamond deposit (the "Gahcho Kue Project" located in
the Northwest Territories of Canada.  The Company's primary asset
is its 49% interest in the Gahcho Kue Project.

The Company's balance sheet at March 31, 2011, showed
$70.13 million in total assets, C$8.19 million in total
liabilities and C$61.93 million in total shareholders' equity.

                           *     *     *

In its Management's Discussion and Analysis of the Company's
interim consolidated financial statements for the three months
ended June 30, 2010, the Company said its ability to continue as a
going concern and to realize the carrying value of its assets and
discharge its liabilities is dependent on the discovery of
economically recoverable mineral reserves, the ability of the
Company to obtain necessary financing to fund its operations, and
the future production or proceeds from developed properties.
However, the Company adds that there is no certainty that the
Company will be able to obtain financing to fund its operations.
As a result, the Company says, there is substantial doubt as to
its ability to continue as a going concern.


MPG OFFICE: Completes $33.75-Mil. Financing with East West Bank
---------------------------------------------------------------
MPG Office Trust, Inc., completed a $33.75 million financing with
East West Bank secured by the Plaza Las Fuentes office property
located in Pasadena, California.  The net proceeds from the
financing will be used for general corporate purposes.

The loan bears interest at a rate equal to the greater of (1)
LIBOR plus 3.50% or (2) 4.50% and matures on Aug. 9, 2016.  The
loan can be repaid at any time prior to maturity in whole or in
part without payment of any prepayment penalty or premium.  The
loan agreement also permits the Company to obtain up to $11.25
million of mezzanine financing.

David L. Weinstein, President and Chief Executive Officer,
commented: "We are pleased to have completed this financing.  This
financing adds to MPG's improving liquidity position and further
solidifies our relationship with East West Bank, the property's
largest tenant."

                      About MPG Office Trust

MPG Office Trust, Inc., fka Maguire Properties Inc. --
http://www.mpgoffice.com/-- is the largest owner and operator of
Class A office properties in the Los Angeles central business
district and is primarily focused on owning and operating high-
quality office properties in the Southern California market.  MPG
Office Trust is a full-service real estate company with
substantial in-house expertise and resources in property
management, marketing, leasing, acquisitions, development and
financing.

The Company's balance sheet at March 31, 2011, showed
$2.72 billion in total assets, $3.80 billion in total liabilities,
and a $1.08 billion in total deficit.

The Company reported a net loss of $197.94 million on
$406.89 million of total revenue for the year ended Dec. 31 2010,
compared with a net loss of $869.72 million on $423.84 million of
total revenue during the prior year.

The Company has been focused on reducing debt, eliminating
repayment and debt service guarantees, extending debt maturities
and disposing of properties with negative cash flow.  The first
phase of the Company's restructuring efforts is substantially
complete and resulted in the resolution of 18 assets, relieving
the Company of approximately $2.0 billion of debt obligations and
potential guaranties of approximately $150 million.


NANA DEVELOPMENT: S&P Assigns 'B+' Corporate Credit Rating
----------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B+' corporate
credit rating to Anchorage, Alaska-based NANA Development Corp.
(NANA). "At the same time, we assigned a 'BB' issue-level
rating (two notches higher than our corporate credit rating) to
the company's $175 million five-year, first-lien term loan with a
recovery rating of '1'. We also assigned a 'B+' issue-level rating
to the company's $260 million six-year, second-lien term loan with
a recovery rating of '4'. The outlook is stable," S&P said.

"The ratings on NANA reflect its aggressive financial risk profile
and weak business risk profile marked by its reliance on
government funding budgets, integration risks with its proposed
acquisition of Grand Isle Shipyard Inc., and the potential for
declining zinc prices," said Standard & Poor's credit analyst
Peter Kelly. "These factors are partially offset by some diversity
of its business lines, its well-established relationships with
long-term customers, and its committed royalty income from Red Dog
Mine--a zinc nickel mine located in northwestern Alaska; it has
the world's largest proven zinc reserves. Currently, NANA's
operating margin, before depreciation and amortization, in its
services business is thin, at less than 10%."

As part of the refinancing and acquisition, NANA will replace its
existing $125 million revolving credit facility with a new $520
million senior secured credit facility which will include a $175
million first-lien senior secured term loan, a $260 million
second-lien senior secured term loan, and an unrated $85 million
asset-based lending credit facility. The company plans to
refinance its existing credit facility and use the proceeds to
acquire GIS.

"We view NANA's financial risk profile as aggressive. Pro forma
for the recently closed transaction, we expect the company's
financial leverage will be around 4.0x total adjusted debt to
EBITDA, and its funds from operations (FFO) to total adjusted debt
roughly 15%. We expect capital expenditures, while higher for
2011, to be about 1.5% of revenues. We consider NANA's total
adjusted debt to EBITDA of about 4.0x and FFO to total debt of
about 15% to be commensurate for the rating, and expect the
company to maintain these measures over the next year at around
4.0x-5.0x and in the 10%-15% range, using its free operating cash
flow towards debt reduction," S&P related.

The outlook is stable. "We could lower the ratings if subpar
operating performance resulting from a significant number of
contracts not being renewed, or if higher-than-expected cash
outflows and/or debt financed activities adversely affect credit
measures," Mr. Kelly continued, "for example, if FFO to total debt
is 10% or less, and the company experiences weak operating
performance from its base business combined with lower-than-
expected equity contributions from the Red Dog Mine. However, we
could consider a one-notch upgrade if NANA's credit measures
improve to more than 15% FFO to total debt and believe it will be
sustained, or if NANA successfully integrates GIS and its
operating margins improve towards 10% and its liquidity
and financial policies support the higher rating."


NATIONAL GROUP: Judge Orders Firm to Go Into Receivership
---------------------------------------------------------
A.M. Best reports that a Florida judge ordered National Group
Insurance Co. into receivership saying it is a prospective hazard
to its policyholders, creditors or the public.  The report relates
that Florida Department of Financial Services has taken over
operations of the National Group.

The Second Judicial Circuit Court ordered the Company into
receivership for purposes of rehabilitation, according to the
report.  The report relates that the Department of Financial
Services will continue to process and pay claims, and, while the
company stopped writing new and renewal business on June 24,
current existing policies remain in force.

Under the court order, A.M. Best notes, the department takes
possession of all property and assets, including securities and
certificates of deposit, of the insurer; authorizes payment of
expenses, collects debts and commences legal proceedings, if
necessary.  A.M. Best relates that the court order requires
officers, directors and employees of National Group to fully
cooperate with the department, which is authorized to conduct an
investigation to "uncover and make fully available to the Court
the true state of Respondent's financial affairs."

Regulators in Puerto Rico in May issued an order of rehabilitation
for National Insurance Co., the parent of National Group, and as
part of the rehabilitation process, members of the board of
directors, the chief executive officer and the chief operating
officer resigned their positions, BestWire News reported, A.M.
Best relates.

National Group Insurance Co. is a commercial multi-peril and
automobile liability writer focusing on small- to medium-size
commercial accounts.  The company currently has approximately
10,500 policyholders.


NEW CENTURY: Adequacy of Bar Date Notice Challenged
---------------------------------------------------
WestLaw reports that whether the publication notice of the claims
bar date that was provided by Chapter 11 debtors was reasonably
calculated to provide notice to consumer mortgagors with which the
debtors had engaged in mortgage loan transactions, such that the
publication notice, as applied to two such mortgagors who were
"unknown" creditors, satisfied due process, was a factual issue
that could not be decided on a motion to dismiss the mortgagors'
otherwise time-barred claims.  The publication notice consisted of
notice provided in one national newspaper and one local newspaper,
which arguably complied with the stated minimum requirements of
the bar date order.  In re New Century TRS Holdings, Inc., ---
B.R. ----, 2011 WL 2259743 (Bankr. D. Del.).

Founded in 1995, Irvine, Calif.-based New Century Financial
Corporation (NYSE: NEW) -- http://www.ncen.com/-- was a real
estate investment trust, providing mortgage products to borrowers
nationwide through its operating subsidiaries, New Century
Mortgage Corporation and Home123 Corporation.   The Company was
among firms hit by the collapse of the subprime mortgage business
industry in 2006.

The company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2007 (Bankr. D. Del. Lead Case No.
07-10416).  Suzzanne Uhland, Esq., Austin K. Barron, Esq., and Ana
Acevedo, Esq., at O'Melveny & Myers LLP, and Mark D. Collins,
Esq., Michael J. Merchant, Esq., and Jason M. Madron, Esq., at
Richards, Layton & Finger, P.A., represent the Debtors.  The
Official Committee of Unsecured Creditors selected Hahn & Hessen
as its bankruptcy counsel and Blank Rome LLP as its co-counsel.

When the Debtors filed for bankruptcy, they disclosed total assets
of $36,276,815 and total debts of $102,503,950.

The Company sold its assets in transactions approved by the
Bankruptcy Court.

The Bankruptcy Court confirmed the Debtors' second amended joint
Chapter 11 plan on July 15, 2008.  District Judge Sue Robinson
later reversed the bankruptcy court's confirmation order.


NEW ERA: Investor Group Plans to Pay Off Lender
-----------------------------------------------
Purva Patel at Houston Chronicle reports that an investor group
for New Era Hospitality plans to pay off the current lender,
dismiss the bankruptcy and close on a $22 million construction
loan within the next few months.

According to the report, New Era Hospitality filed for Chapter 11
bankruptcy to avoid foreclosure after money woes stalled its
construction plans.  The group has an unpaid mortgage of $4.2
million on the property at 801 St. Joseph Parkway.  The project
lost its financing after the lender learned the dilapidated
building had some uncorrected violations and worried the building
would have to be torn down.

The hotel opened in the 1970s and was a Days Inn before it was
taken over by the development fund in the 1990s.

Based in Houston, Texas, New Era Hospitality Inc. filed for
Chapter 11 bankruptcy protection (Bankr. S.D. Tex. Case No. 11-
36492) on July 30, 2011.  Judge Karen K. Brown presides over the
case.  Samuel L. Milledge, Esq., Milledge Law Firm, P.C.,
represents the Debtor.  The Debtor disclosed $14,000,000 in
assets, and $4,213,828 in debts.


NEW VINTAGE: Case Summary & 7 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: New Vintage Farm, LLC
        2625 Cox Road
        Woodstock, GA 30188

Bankruptcy Case No.: 11-72447

Chapter 11 Petition Date: August 1, 2011

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

Debtor's Counsel: Ian M. Falcone, Esq.
                  THE FALCONE LAW FIRM PC
                  363 Lawrence Street
                  Marietta, GA 30060
                  Tel: (770) 426-9359
                  E-mail: attorneys@falconefirm.com

Scheduled Assets: $586,541

Scheduled Debts: $1,389,840

A list of the Company's seven largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ganb11-72447.pdf

The petition was signed by Julie Curtin, president.


NO FEAR: Simo Gets OK to Use Cash Collateral of Emler and FMF
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of California
approved the stipulation authorizing No Fear Retail stores, Inc.
et al., to (i) sell assets; (ii) use cash collateral; (iii) and
assume and assign executory contracts in connection therewith.

The stipulation was entered among the Debtors, Don Emler and FMF
Racing, postpetition debtor-in-financing lender 1903 Onshore
Funding, LLC, and the Official Committee of Unsecured Creditors in
the Debtors' cases.

Emler and FMF assert prepetition claims against debtors NFRS and
Simo Holdings, Inc., a California corporation.  As of the Petition
Date, FMF and Emler assert that the indebtedness that NFRS and
Simo owed total approximately $2,263,550 and $936,552,
respectively.

Emler and FMF assert that the obligations evidenced by the Notes
are secured by attachment liens on, and security interest in, all
of Simo's property located in California.

Subject to the terms and conditions of the stipulation, Simo will
be authorized to use the cash collateral until the effective date
of a confirmed plan of reorganization in the Chapter 11 cases.

As additional protection, for Simo's use of cash collateral, each
of Emler and FMF are granted a replacement lien in Simo's
postpetition cash, accounts receivable, negotiable instruments,
deposit acounts, and other cash equivalents to the same extent and
priority as any duly perfected and unavoidable liens in the cash
collateral held by Emler and FMF as of the Petition Date.

In resolution of the limited objection, Emler and FMF consent to
the sale of the Debtors' assets free and clear of liens, on the
condition that the valid prepetition attachments liens of Emler
and FMF and any replacement liens granted in the stipulation will
attach to the proceeds of the sale of any such assets with the
same validity, priority and perfection, and to the same extent as
existed with respect to Simo's assets at the time of sale.  In
addition, Emler and FMF consent to the payment of any and all
secured indebtedness to the DIP lender.

                       About No Fear Retail

Carlsbad, California-based No Fear Retail Stores, Inc., is a
retailer of action, sports, and casual youth lifestyle apparel and
accessories, targeting young adults and teens.  It operates 41
retail locations in California, Oregon, Arizona, Florida, Nevada,
North Carolina, and Texas.

No Fear filed for Chapter 11 bankruptcy protection (Bankr. S.D.
Calif. Case No. 11-02896) on Feb. 24, 2011.  David S. Kupetz,
Esq., at Sulmeyer, Kupetz, A Professional Corp, serves as the
Debtor's bankruptcy counsel.  The Debtor tapped Jones Day as
special intellectual property counsel; Avant Advisory Group's
George Blanco as chief restructuring officer, and Venturi &
Company LLC, as financial advisors.

The Debtor estimated disclosed $31,648,063 in assets and
$12,552,985 in liabilities as of the Chapter 11 filing.

Affiliates No Fear MX, Inc. (Bankr. S.D. Calif. Case No. 11-02897)
and Simo Holdings, Inc. (Bankr. S.D. Calif. Case No. 11-02898)
filed separate Chapter 11 petitions on Feb. 24, 2011.

Tiffany L. Carroll, the Acting U.S. Trustee for Region 15,
appointed three creditors to serve on an Official Committee of
Unsecured Creditors of No Fear MX, Inc.  Pachulski Stang
Ziehl & Jones LLP represents the Committee.  BDO USA LLP serves as
financial advisor to provide financial advisory services to the
Committee.


NORTEL NETWORKS: Ernst & Young's Services Now Include FBAR
-----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware approved
the expansion of the scope of Nortel Networks, Inc., et al.'s
employment of Ernst & Young LLP, to include the FBAR Services
under the terms and conditions of the FBAR amendment and in
accordance with the Tax Services Agreement and the Original EY LLP
employment order.

As reported in the Troubled Company Reporter on July 6, 2011, EY
LLP's employment will now include certain services related to the
reporting of foreign bank accounts at these hourly rates: partner
at $640, executive director at $545, senior manager at $540,
manager at $430, senior at $300 and staff at $170.

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

                       About Nortel Networks

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

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

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

Nortel Networks Inc. and 14 affiliates filed separate Chapter 11
petitions (Bankr. D. Del. Case No. 09-10138) on Jan. 14, 2009.
Judge Kevin Gross presides over the case.  James L. Bromley, Esq.,
at Cleary Gottlieb Steen & Hamilton, LLP, in New York, serves as
general bankruptcy counsel; Derek C. Abbott, Esq., at Morris
Nichols Arsht & Tunnell LLP, in Wilmington, serves as Delaware
counsel.  The Chapter 11 Debtors' other professionals are Lazard
Freres & Co. LLC as financial advisors; Eugene F. Collins
as consulting expert and special Irish counsel, and Epiq
Bankruptcy
Solutions LLC as claims and notice agent.

The Hon. Warren K. Winkler, Chief Justice of Ontario, was
appointed to conduct joint mediation in Nortel Networks Ltd.'s
Chapter 11 cases and proceedings before the Ontario Superior Court
of Justice regarding disputes centered on allocation of proceeds
from the sale transactions.  The Court also appointed Jacob A.
Esher, of Mediation Works Incorporated, as mediator for a dispute
involving Robert Horne, James Young, and the Ad Hoc Group of
Beneficiaries of the Nortel Networks U.S. Deferred Compensation
Plan.

Fred S. Hodara, Esq., at Akin Gump Strauss Hauer & Feld LLP, in
New York, and
Christopher M. Samis, Esq., at Richards, Layton & Finger, P.A., in
Wilmington, Delaware, represent the Official Committee of
Unsecured Creditors.

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

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

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


NORTHERN BERKSHIRE: Committee Gets OK for Duane Morris as Counsel
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Massachusetts
granted the Official Committee of Unsecured Creditors in the
Chapter 11 cases of Northern Berkshire Healthcare, Inc., et al.,
authorization to retain Duane Morris LLP as its counsel, nunc pro
tunc to June 21, 2011.

As reported in the TCR on July 7, 2011, Duane Morris will, among
other things:

   -- assist and advise the Committee in its consultations with
      the Debtors relative to the administration of these
      Chapter 11 cases;

   -- assist the Committee in analyzing the claims of the Debtors'
      creditors and the Debtors' capital structure and in
      negotiating with holders of claims and equity interests; and

   -- assist the Committee in its investigation of the acts,
      conduct, assets, liabilities and financial condition of the
      Debtors and of the operation of the Debtors' businesses.

Duane Morris' personnel with primary responsibilities and their
hourly rates are:

         Jeffrey D. Sternklar, partner           $675
          Financial Restructuring Department
         Wendell M.N. Harp, associate            $350
          Financial Restructuring Department

The Committee contemplates Mr. Harp will bill more than will
Mr. Sternklar and accordingly anticipates DM's effective blended
hourly rate would be $495 per hour.  These rates compare favorably
with the rates proposed to be charged by Debtors' counsel.

The hourly rates charged by Duane Morris for professionals and
paraprofessionals employed in its offices are:

         Partners                            $375 - $935
         Special Counsel and Counsel         $300 - $915
         Associates                          $225 - $510
         Paraprofessionals                   $125 - $335

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

                About Northern Berkshire Healthcare

Northern Berkshire Healthcare, Inc. is a non-profit healthcare
corporation in northern Berkshire County, Massachusetts.  Together
with its affiliates, Northern Berkshire Healthcare operates the
North Adams Regional Hospital and a visiting nurse association and
hospice in North Adams, Massachusetts.

Northern Berkshire Healthcare, Inc., North Adams Regional
Hospital, Inc., Visiting Nurse Association & Hospice of Northern
Berkshire, Inc., Northern Berkshire Healthcare Physicians Group,
Inc., and Northern Berkshire Realty, Inc., filed for Chapter 11
bankruptcy (Bankr. D. Mass. Case No. 11-31114) on June 13, 2011,
to address their overleveraged balance sheet and effect a
reorganization of their operations.  On the same day, Northern
Berkshire Community Services, Inc., filed a petition for Chapter 7
relief also in the District of Massachusetts bankruptcy court.

Judge Henry J. Boroff presides over the Debtors' cases.  James
Addison Wright, III, Esq., and Steven T. Hoort, Esq., at Ropes &
Gray LLP, serve as the Debtors' bankruptcy counsel.  The Debtors'
Financial Advisors are Carl Marks Advisory Group LLC.  GCG Inc.
serves as claims and noticing agent.

Northern Berkshire disclosed $22,957,933 in assets and
$53,379,652 in liabilities as of the Chapter 11 filing.  The
petition was signed by William F. Frado, Jr., president.

William K. Harrington, the U.S. Trustee for Region 1, appointed
five members to the official unsecured creditors' committee in the
Debtors' cases.  The Committee tapped Huron Consulting Services
LLC as its financial advisor.


NPS PHARMACEUTICALS: Incurs $6.1-Mil. Net Loss in Second Quarter
----------------------------------------------------------------
NPS Pharmaceuticals, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $6.13 million on $27.21 million of total revenues for
the three months ended June 30, 2011, compared with a net loss of
$6.30 million on $24.02 million of total revenues for the same
period during the prior year.

The Company also reported a net loss of $15.28 million on
$50.78 million of total revenue for the six months ended June 30,
2011, compared with a net loss of $9.35 million on $44.31 million
of total revenues for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed
$253.27 million in total assets, $280.58 million in total
liabilities, and a $27.31 million total stockholders' deficit.

"Our clinical, regulatory, and technical operations teams are on
track with the execution of our two Phase 3 registration programs
for GATTEX and NPSP558," said Francois Nader, MD, president and
chief executive officer of NPS Pharmaceuticals, Inc.  "During the
second quarter we reported additional positive findings from the
GATTEX clinical program in short bowel syndrome.  We also held our
pre-submission meeting with the FDA and remain confident in our
ability to submit our marketing application later this year.  We
expect to report results from the Phase 3 REPLACE clinical study
of NPSP558 in patients with hypoparathyroidism in the fourth
quarter and pursue U.S. registration of the drug if study results
are positive."

A full-text copy of the Form 10-Q is available for free at:

                        http://is.gd/THfU1w

                     About NPS Pharmaceuticals

Based in Bedminster, New Jersey, NPS Pharmaceuticals Inc. (Nasdaq:
NPSP) -- http://www.npsp.com/-- is developing new treatment
options for patients with rare gastrointestinal and endocrine
disorders.

The Company reported a consolidated net loss of $31.44 million on
$89.41 million of total revenue for the year ended Dec. 31, 2010,
compared with a net loss of $17.86 million on $84.15 million of
total revenue during the prior year.

NPS noted in its Form 10-K for the year ended Dec. 31, 2009, it
has not been profitable since its inception in 1986.  As of
Dec. 31, 2009, it had an accumulated deficit of
$922.7 million.  "Currently, we are not a self-sustaining business
and certain economic, operational and strategic factors may
require us to secure additional funds."  The Company though
believes its existing capital resources at Dec. 31, 2009,
along with the receipt of $38.4 million from the sale of its
REGPARA royalty stream, should be sufficient to fund its current
and planned operations through at least Jan. 1, 2011.


OLD CUTTERS: Case Summary & Largest Unsecured Creditor
------------------------------------------------------
Debtor: Old Cutters, Inc.
        P.O. Box 986
        Hailey, ID 83333

Bankruptcy Case No.: 11-41261

Chapter 11 Petition Date: August 1, 2011

Court: United States Bankruptcy Court
       District of Idaho (Twin Falls)

Judge: Jim D. Pappas

Debtor's Counsel: Joseph M. Meier, Esq.
                  COSHO HUMPHREY, LLP
                  P.O. Box 9518
                  800 Park Blvd, Suite 790
                  Boise, ID 83707-9518
                  Tel: (208) 344-7811
                  Fax: (208) 338-3290
                  E-mail: jmeier@cosholaw.com

Scheduled Assets: $3,001,993

Scheduled Debts: $20,671,830

In its list of 20 largest unsecured creditors, the Company placed
only one entry:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Old Cutters               Real estate loan       $8,207,685
Investment, LLC
P.O. Box 986
Hailey, ID 83333

The petition was signed by John Campbell, president.


ORLANDO COUNTRY: Taps Wolff Hill as Bankruptcy Counsel
------------------------------------------------------
Orlando Country Aviation Services, Inc., asks the U.S. Bankruptcy
Court for the Middle District of Florida for permission to employ
Frank M. Wolff and Wolff, Hill, McFarlin & Herron, P.A., as its
attorneys.

FMW and WHM&H will, among other things:

   a. advise and counsel the debtor-in-possession concerning the
      operation of its business in compliance with Chapter 11 and
      orders of the Court;

   b. defend any causes of action on behalf of the debtor-in-
      possession; and

   c. prepare, on behalf of the debtor-in-possession, all
      necessary applications, motions, reports, and other legal
      papers in the Chapter 11 case;

   d. assist in the formulation of a plan of reorganization and
      preparation of a disclosure statement; and

   e. provide all services of a legal nature in the field of
      bankruptcy law.

Frank M. Wolff, a shareholder, officer, director and employee of
WHM&H, tells the Court that the firm received $2,600 for legal
services provided prior to the petition date; and $16,361 as a
retainer which WHM&H will take into income for post bankruptcy
fees and costs.  The source of the retainer is James P.A.
Thompson, 100% owner and president of the Debtor.

To the best of the Debtor's knowledge, FMW and WHM&H do not hold
or represent any interest adverse to the estate; and are
"disinterested persons" as that term is defined in Section 101(14)
of the Bankruptcy Code.

WHM&H also serves as legal counsel for Avion Point West, LLC, an
affiliate.

                      About Avion Point West

Based in Longwood, Florida, Avion Point West LLC and its
affiliate, Orlando Country Aviation Services Inc., filed for
Chapter 11 bankruptcy protection (Bank. M.D. Fla. Case Nos.
11-10364 and 11-10365) on July 8, 2011.  Judge Karen S. Jennemann
presides over the Debtors' cases.  Frank M. Wolff, Esq., at Wolff
Hill McFarlin & Herron PA, represents the Debtor.  The Debtor
estimated assets between $10 million and $50 million, and debts
between $1 million and $10 million.

The petitions were signed by James PA Thompson, the managing
member.  Mr. Thompson is the developer of Orlando Apopka Airport
in northwest Orange County.  During the past decade, Mr. Thompson
has transformed Orlando Apopka Airport, on U.S. Highway 441
between Plymouth and Zellwood, from an old airfield called Orlando
Country Airport into a complex of hangar condominiums whose owners
now control the facility.


ORLANDO COUNTRY: Files Schedules of Assets and Liabilities
----------------------------------------------------------
Orlando County Aviation Services, Inc., filed with the U.S.
Bankruptcy Court for the Middle District of Florida its schedules
of assets and liabilities, disclosing:

    Name of Schedule              Assets         Liabilities
    ----------------            -----------      -----------
A. Real Property                $2,000,000
B. Personal Property                    $0
C. Property Claimed as
    Exempt
D. Creditors Holding
    Secured Claims                                $8,110,433
E. Creditors Holding
    Unsecured Priority
    Claims                                                $0
F. Creditors Holding
    Unsecured Non-priority
    Claims                                          $142,685
                                -----------      -----------
       TOTAL                     $2,000,000       $8,253,118

A copy of the Schedules Of Assets And Liabilities is available at:

         http://bankrupt.com/misc/orlandocountry.SAL.pdf

                 About Orlando Country Aviation

Based in Longwood, Florida, Avion Point West LLC and its
affiliate, Orlando Country Aviation Services Inc., filed for
Chapter 11 bankruptcy protection (Bank. M.D. Fla. Case Nos.
11-10364 and 11-10365) on July 8, 2011.  Judge Karen S. Jennemann
presides over the Debtors' cases.  Frank M. Wolff, Esq., at Wolff
Hill McFarlin & Herron PA, represents the Debtor.  The Debtor
estimated assets between $10 million and $50 million, and debts
between $1 million and $10 million.

The petitions were signed by James PA Thompson, the managing
member.  Mr. Thompson is the developer of Orlando Apopka Airport
in northwest Orange County.  During the past decade, Mr. Thompson
has transformed Orlando Apopka Airport, on U.S. Highway 441
between Plymouth and Zellwood, from an old airfield called Orlando
Country Airport into a complex of hangar condominiums whose owners
now control the facility.


PALISADES SAFETY: S&P Assigns 'BBpi' Counterparty Credit Rating
---------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BBpi'
counterparty credit and financial strength ratings to
Palisades Safety & Insurance Assoc. (PSIA) and its affiliate, High
Point Preferred Insurance Co. (High Point Preferred).

The ratings reflect both companies' mono-state personal lines
operating profile, with 100% of direct written premium in New
Jersey. This concentration makes them more susceptible to
competitive market pressure, unfavorable changes in regulatory
conditions, and local weather events. Both companies have
experienced deteriorating operating performance in the last five
years (2006-2010), with performance below the personal lines
industry average, and the group has had an underwriting loss for
the last four years. The companies' investment strategies remain
somewhat aggressive, with higher investments in common stock than
peers.

Offsetting these negative factors are both companies' well-
established market position in New Jersey, adequate
capitalization, and good liquidity. The group also continues to
benefit from one of the lowest number of auto complaints according
to New Jersey's insurance department, demonstrating the
group's good customer service. Palisades Group -- with total net
premium earned of about $660 million in 2010 -- was founded in
1982 and ranks fourth in New Jersey based on direct premiums
written. PSIA is the lead member of the overall group. As of Jan.
1, 2011, High Point Property & Casualty Insurance Co. (unrated)
has replaced High Point Preferred as the lead High Point group
company, which is 100% owned by PSIA. Prospectively, High Point
Preferred will write all of High Point group's homeowners'
business. In 2010, High Point Preferred and PSIA were the largest
two members in the group, contributing 62% and 34% of net premium
earned (High Point Property & Casualty accounted for the remaining
4%). High Point Preferred's core product line is homeowners
insurance, and PSIA's is personal automobile insurance.


PALMDALE HILLS: Needs Relief From Lehman Stay, 9th Circ. Says
-------------------------------------------------------------
Dan Rivoli at Bankruptcy Law360 reports that the Ninth Circuit on
Wednesday affirmed a ruling that a bankrupt real estate group
seeking to subordinate a Lehman Brothers Holdings Inc. unit's
claims must obtain relief from Lehman's automatic stay in New
York, where its bankruptcy proceedings are being held.

A bankruptcy appellate panel for the Ninth Circuit had ruled that
Palmdale Hills Property LLC's bid in a California bankruptcy court
to subordinate Lehman Commercial Paper Inc.'s claims was an
affirmative action that violated an automatic stay initiated for
the financial firm's own bankruptcy proceedings, according to
Law360.

                      About SunCal Companies

SunCal Companies -- http://www.suncal.com/-- has more than
250,000 residential lots and 10 million square feet of commercial
space in various stages of development throughout California,
Arizona, Nevada and New Mexico.

Gramercy Warehouse Funding LLC and several creditors filed
involuntary petitions each against LBREP/L-SunCal Master I
LLC, LBREP/L-SunCal McAllister Ranch LLC, LBREP/L-SunCal McSweeny
Farms LLC, and LBREP/L-SunCal Summerwind Ranch LLC on Sept. 11,
2008 (Bankr. C.D. Calif Case No. 08-15588, 08-15637, 08-15639, and
08-15640).  Daniel H. Reiss, Esq., at Levene, Neale, Bender,
Rankin & Brill represents the petitioners.

SunCal affiliates led by Palmdale Hills Property, LLC, filed
voluntary Chapter 11 petitions (Bankr. C.D. Calif. Case No.
08-17206) on Nov. 6, 2008.  Affiliates that also filed separate
Chapter 11 petitions include: SunCal Beaumont Heights, LLC; SunCal
Johannson Ranch, LLC; SunCal Summit Valley, LLC; SunCal Emerald
Meadows LLC; SunCal Bickford Ranch, LLC; SunCal Communities I,
LLC; SunCal Communities III, LLC; and SJD Development Corp.

SunCal Companies is not in bankruptcy.

Paul J. Couchot, Esq., at Winthrop Couchot P.C., represents
Palmdale Hills in its restructuring effort.  The Company estimated
assets and debts of $100 million to $500 million in its Chapter 11
petition.

                     About Lehman Brothers

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

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

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

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

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

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

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

                International Operations Collapse

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

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

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


PHH CORP: Fitch Affirms 'BB+' Long-Term Issuer Default Rating
-------------------------------------------------------------
Fitch Ratings has affirmed PHH Corporation's long-term Issuer
Default Rating (IDR) at 'BB+' and short-term IDR at 'B'. The
Rating Outlook has been revised to Stable from Negative.
Approximately $1.23 billion in debt is affected by this action.

The rating affirmation reflects PHH's improved competitive
position in the mortgage and fleet leasing business, positive core
operating performance, improved funding and liquidity profile, and
adequate capitalization. Ratings are constrained by the volatility
in valuation of mortgage servicing rights (MSRs) associated with
its capitalized servicing portfolio and the uncertainty
surrounding regulation that could impact the mortgage servicing
business.

PHH has consistently added to its mortgage origination share over
the past few quarters. In a market where volumes were generally
down for 2010, PHH originated $49 billion in loans, up 30% from
$37.6 billion in 2009. As a result, market share has jumped to
3.7% for the six months ending June 30, 2011 (1H'11) from 2.0% in
2009. Overall volumes are expected to be down in 2011 due to
uncertain economic conditions, slower housing market recovery, and
refinance burnout. Fitch expects PHH to continue to prudently
originate loans and maintain -- if not improve -- its market
share.

Operating performance has improved as management executed on its
goals of increasing market share in the mortgage space,
competitively positioning itself in fleet leasing, and cutting
operational expenses through its transformational plan. Core pre-
tax income increased to $289 million in 2010, up 20.4% from $240
million in 2009. Fitch expects operating performance will be
pressured in 2011, as evidenced by a decline in core pre-tax
income in the 1H'11, but believes that PHH's demonstrated ability
to increase mortgage market share and the positive momentum in its
fleet leasing segment should help overall profitability.

Consistent with the industry, PHH has seen an uptick in mortgage
repurchase requests from the government-sponsored entities (GSEs).
However, PHH's servicing portfolio has consistently demonstrated
peer-superior credit quality. Total delinquencies peaked at 4.68%
in 2009, but have declined to 3.22% in 2Q'11, well below industry
average. Foreclosure/repurchase related reserves stood at $122
million at June 30, 2011, compared to $35 million in repurchase-
related losses realized in 1H'11. Fitch believes that repurchase
exposure is adequately reserved considering the positive trends in
credit quality of the loan portfolio.

PHH does not use derivatives to hedge its MSR portfolio, which
tends to introduce volatility in the company's operating results,
impacting the cushion needed to maintain the GAAP net worth
covenant under the company's funding facilities. However, the
company closely monitors and seeks to maintain an appropriate
balance, by replenishing the lost servicing value from prepayments
with new loan additions through originations. Fitch notes that the
replenishment rate has been consistently strong as the company has
demonstrated its ability to grow originations even in a down
market.

Funding flexibility and liquidity has strengthened as PHH has
increased, renewed, and diversified both its fleet-backed and
mortgage-backed debt facilities, successfully paid down its
unsecured credit revolver by accessing the public debt market, and
extended the term of its unsecured debt maturity profile. The next
unsecured debt maturity is April 2012, when $250 million of
convertible notes come due. Fitch believes that between the
availability under the undrawn credit revolver and unrestricted
cash, the company has sufficient liquidity to pay these notes,
although the company could also access the public debt markets.

The revision to a Stable Outlook reflects Fitch expectation for
more consistent core operating profitability, maintenance of
adequate liquidity and funding levels, and the belief that the
company will maintain -- if not improve -- its replenishment rate
to reduce MSR volatility.

An increase in Fitch core capital (excluding MSRs), manageable
impact from regulations that are expected to increase servicing-
related costs, and consistent operating performance while
maintaining economical access to longer-term diversified sources
of funding could provide positive rating momentum. Conversely,
deterioration in core operating profitability, MSR write-downs
which reduce covenant cushions, or significant adverse effects on
the mortgage business as a result of regulatory reform could
result in negative rating action.

Established in 1946, PHH is the leading outsource provider of
mortgage and fleet management services in the U.S. The company
conducts its business through three operating segments: mortgage
production, mortgage servicing and fleet management services.

Fitch has affirmed these ratings:

PHH Corporation

   -- Long-term IDR at 'BB+;

   -- Senior unsecured at 'BB+';

   -- Short-term IDR at 'B';

   -- Commercial paper at 'B'.

The Rating Outlook is Stable.


PHOENIX FOOTWEAR: Reidman Corporation Holds 58.3% Equity Stake
--------------------------------------------------------------
In an amended Schedule 13D filing with the U.S. Securities and
Exchange Commission, Riedman Corporation and James R. Riedman
disclosed that they beneficially own 6,669,703 shares of common
stock of Phoenix Footwear Group, Inc., representing 58.3% of the
shares outstanding.  As previously reported by the TCR on
Dec. 27, 2010, James R. Riedman, president of Riedman Corporation,
disclosed that he beneficially owns 2,347,982 shares of common
stock of Phoenix Footwear representing 27.4% of the shares
outstanding.  A full-text copy of the regulatory filing is
available at no charge at http://is.gd/6z74dl

                       About Phoenix Footwear

Based in Carlsbad, California, Phoenix Footwear Group, Inc. (NYSE
Amex: PXG) specializes in quality comfort women's and men's
footwear with a design focus on fitting features.  Phoenix
Footwear designs, develops, markets and sells footwear in a wide
range of sizes and widths under the brands Trotters(R),
SoftWalk(R), and H.S. Trask(R).  The brands are primarily sold
through department stores, leading specialty and independent
retail stores, mail order catalogues and internet retailers and
are carried by approximately 650 customers in more than 900 retail
locations throughout the U.S.  Phoenix Footwear has been engaged
in the manufacture or importation and sale of quality footwear
since 1882.

The Company reported a net loss of $1.70 million on $17.26 million
of net sales for the year ended Jan. 1, 2011, compared with a net
loss of $6.99 million on $18.76 million of net sales during the
prior year.

The Company's balance sheet at Jan. 1, 2011 showed $10.74 million
in total assets, $7.90 million in total liabilities and $2.84
million in total stockholders' equity.

As reported by the TCR on April 18, 2011, Mayer Hoffman McCann
P.C., San Diego, Calif., expressed substantial doubt about the
Company's ability to continue as a going concern, following the
2010 financial results.  The independent auditors noted that the
Company has suffered recurring losses and negative cash flows from
continuing operations.


PMI GROUP: Warns Insurance Unit May Shutdown
--------------------------------------------
The PMI Group Inc. disclosed in a regulatory filing that as of
June 30, 2011, the policyholders' position at its wholly owned
subsidiary, PMI Mortgage Insurance Co. was below the minimum
required by Arizona law and its risk-to-capital ratio exceeded the
regulatory maximum 25:1 set by various other states.

In 16 states, if a mortgage insurer does not meet a required
minimum policyholders' position -- calculated in accordance with
statutory formulae -- or exceeds a maximum permitted risk-to-
capital ratio of 25 to 1, it may be prohibited from writing new
business.  In two of those states, mortgage insurers are required
to cease writing new business immediately if and so long as they
fail to meet capital requirements.  In the remaining 14 states
(including Arizona), regulators exercise discretion as to whether
the mortgage insurer may continue writing new business.

MIC is currently operating under regulatory waivers or discretion
in the majority of the 14 states.  Four of MIC's waivers expire on
Dec. 31, 2011 or earlier.  Each of the waivers issued to MIC may
be withdrawn at any time by the applicable insurance department.

PMI on Thursday released its earnings report for the second
quarter of 2011.  PMI posted a consolidated net loss of $134.8
million and $261.6 million for the second quarter and first six
months of 2011, respectively, compared to net losses of $150.6
million and $307.5 million for the corresponding periods in 2010.

According to PMI, in light of the second quarter results, it
expects that the number of states in which MIC is precluded from
writing new business will significantly increase.

"It is not clear what actions, if any, the insurance regulators in
states that do not have capital adequacy requirements may take as
a result of MIC failing to meet capital adequacy requirements
established by one or more states," PMI said.

In a Form 10-Q report filed with the Securities and Exchange
Commission, PMI said it has undergone significant changes since
2007.  Weaker than expected job creation and U.S. home prices
continue to negatively affect the Company's financial condition
and results of operations.

The Company continues to focus on its core U.S. Mortgage Insurance
Operations. In 2010 and the first half of 2011, the private
mortgage insurance industry continued to be significantly
challenged by the slow pace of economic recovery and instability
in the housing and mortgage markets. PMI's new business writings
in 2010 were limited as a result of continued competition with the
Federal Housing Administration, which has become a significant
competitor.  PMI's new business writings were negatively impacted
in the first half of 2011 as a result of lower than expected
residential mortgage originations and continued high demand for
mortgage insurance from the FHA.

PMI said its U.S. Mortgage Insurance Operations had a net loss of
$338.4 million for the second quarter of 2011 compared to a net
loss of $115.6 million for the second quarter of 2010.  The loss
in the second quarter of 2011 was driven by elevated losses and
loss adjustment expenses, the lack of any material tax benefits
and, to a lesser extent, lower premiums earned.

MIC's principal regulator is the Arizona Department of Insurance.
PMI has advised the Department of MIC's second quarter results and
its non-compliance with the required minimum policyholders'
position.  In the near future, the Company expects to further
discuss with the Department MIC's financial condition and the
capital initiatives it is pursuing.

"To date, the Department has neither limited MIC's ability to
transact new business nor provided it with a timetable of required
action by MIC.  If the Department were to determine that MIC's
financial condition warranted regulatory action, it could, among
other actions, issue an administrative corrective order requiring
MIC to suspend writing new business in all states.  In the event
MIC either does not obtain significant capital relief or does not
demonstrate to the Department significant progress in connection
therewith, the Company believes it is likely that the Department
will require MIC to cease writing new business," PMI said.

PMI also noted that Arizona law provides for mandatory suspension
of an insurer's license if the insurer's statutory capital
declines below $1.5 million.

According to PMI, the Department also has the authority, if it
were to make a finding that MIC was in a "hazardous financial
condition," to issue a corrective order and place MIC under
"supervision."  Under supervision, MIC would likely be prohibited
from writing new business and from engaging in transactions
(including disposing of assets) out of the ordinary course of
business unless it has the prior approval of the Director of the
Department or the Director's designated supervisor.  Further, the
Department at any time could initiate state court receivership
proceedings for the rehabilitation or liquidation of MIC.  In a
court-ordered receivership, the Director would be appointed
receiver of MIC and would have full and exclusive power of
management and control of MIC.  The Company cannot predict if, or
under what circumstances or timing, the Department will take any
of those steps.

In the third quarter, PMI began writing new mortgage insurance
through PMI Mortgage Assurance Company, a subsidiary of MIC, in
states in which MIC either did not obtain, or exceeded the terms
of, a waiver or other regulatory forbearance.  Fannie Mae and
Freddie Mac -- the GSEs -- approved the use of PMAC as a limited,
direct issuer of mortgage guaranty insurance in certain states in
which MIC is unable to continue to write new business.  The GSEs'
approvals of PMAC currently expire on Dec. 31, 2011.

PMI expects that the number of states in which it seeks to utilize
PMAC for new business will significantly increase.  While the
Company has requested extensions, there can be no assurance that
the GSEs will grant them or that the GSEs will not revoke the PMAC
approvals prior to Dec. 31, 2011.  The GSEs' approvals of PMAC are
subject to restrictions.  If the Company is unable to satisfy any
of the GSE eligibility requirements for PMAC, if the GSEs do not
extend PMAC's approvals, or if the GSEs revoke PMAC's approvals,
the Company would be unable to offer mortgage insurance through
PMAC.  If this were to occur, the Company would not be able to
offer mortgage insurance through its combined insurance
subsidiaries in all 50 states.

PMI further noted that, although an order by the Department
requiring MIC to cease writing new business would not itself
constitute an event of default, if the Department were to seek and
obtain a court order appointing a receiver of MIC, and the order
were to remain in effect unstayed for 60 consecutive days, an
event of default would occur with respect to PMI's $685 million in
principal amount of its outstanding debt securities.

In addition, it is possible that other actions that the Department
might take or to which MIC might consent involving the appointment
of other officials with authority over MIC or its assets would
also constitute such an event of default.  If such an event of
default were to occur, the debt securities would become
immediately due and payable. The Company does not have access to
sufficient funds or other sources of liquidity sufficient to
enable it to repay such debt securities if they were to become due
and payable.

The Company believes that it has sufficient assets at the
insurance company level to meet its non-holding company
obligations through 2011.  Provided that an event of default with
respect to the Company's debt securities does not occur, the
Company also believes that it has sufficient liquidity at its
holding company to pay holding company expenses through 2011.

Specifically, on a consolidated basis, the Company had available
funds, consisting of cash and cash equivalents and investments of
$2.9 billion and total shareholders' equity of $190.5 million.  At
June 30, 2011, PMI had $4.01 billion in total assets and $$3.82
billion in total liabilities.  MIC had available funds, consisting
of cash and cash equivalents and investments, of $2.3 billion and
total assets in captive trust accounts of approximately $635
million.  At the holding company level, The PMI Group had
available cash and cash equivalents and investments of $69.7
million.

A copy of PMI's Form 10-Q report is available at
http://is.gd/coJT4s

Erik Holm, writing for Dow Jones Newswires, reports that PMI Chief
Executive L. Stephen Smith said on a conference call with
investors that obtaining capital for MIC will be "very challenging
to achieve."

According to Dow Jones, the news sent PMI shares down 55% to 40
cents in afternoon trading, and also hurt the stocks of rival
mortgage insurers, including MGIC Investment Corp., Radian Group
Inc. and Genworth Financial Inc.

                       About The PMI Group

Based in Walnut Creek, California, The PMI Group, Inc. (NYSE:
PMI) -- http://www.pmi-us.com/-- through its wholly owned
subsidiaries, PMI offers residential mortgage insurance and credit
enhancement products.


PPI HOLDINGS: Ch. 11 Plan Confirmation Hearing Set for Oct. 28
--------------------------------------------------------------
Eric Hornbeck at Bankruptcy Law360 reports that U.S. Bankruptcy
Judge Kevin Gross on Wednesday approved PPI Holdings Inc.'s
disclosure statement on a potential reorganization plan that could
see unsecured creditors largely wiped out.

According to Law360, Judge Gross gave his stamp of approval on the
disclosure statement and scheduled an Oct. 28 confirmation hearing
in the case of PPI Holdings, a First Atlantic Capital Ltd.
subsidiary, which filed for chapter 11 protection in December 2008
under the weight of a sagging automotive industry and rising steel
prices.

                        The Chapter 11 Plan

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.


PSEG ENERGY: Fitch Withdraws BB+ Long-Term Issuer Default Rating
----------------------------------------------------------------
Fitch Ratings has affirmed the 'BBB+' long-term Issuer Default
Rating (IDR) on Public Service Enterprise Group Incorporated
(PSEG) and its subsidiaries PSEG Power LLC (Power) and Public
Service Electric and Gas Company (PSE&G). The 'F2' short-term IDR
on PSEG and PSE&G and the security ratings on Power and PSE&G were
also affirmed.

In addition, Fitch has affirmed and withdrawn the 'BB+' long-term
IDR on PSEG Energy Holdings L.L.C. (Energy Holdings).

The Rating Outlook for PSEG, Power, and PSE&G is Stable.

These rating actions affect approximately $6.9 billion of bonds at
PSE&G and Power and all borrowings under the revolving credit
facilities.

Key Rating Strengths:

   -- A constructive regulatory environment in New Jersey;

   -- Fuel diversification and good operating performance at
      Power;

   -- Power's multi-year hedging program;

   -- Robust financial metrics at PSEG and its principal operating
      subsidiaries, Power and PSE&G.

Rating Concerns:

   -- Power's exposure to volatility in the spot electricity and
      fuel commodity price markets;

   -- Uncertainty in the U.S. nuclear regulatory environment
      following the Fukushima Daiichi disaster in Japan;

   -- Pressure on the competitive power market in New Jersey;

   -- An increased capital expenditure budget at PSE&G.

PSEG's ratings are supported by the strong credit profile of its
two principal subsidiaries -- Power, a merchant electric
generation company, and PSE&G, the largest regulated electric and
natural gas distribution utility in New Jersey. In addition, PSEG
does not have any long-term parent level debt.

Constructive Regulatory Environment:

PSE&G's ratings largely reflect the balanced regulatory oversight
of the New Jersey Board of Public Utilities (BPU). The BPU permits
PSE&G to use several regulatory mechanisms to recover costs in a
timely manner. In 2010, a natural gas weather normalization clause
was implemented, which adds further predictability to cash flows
at the utility. The latest authorized return on equity (ROE) of
10.3% for both the electric and natural gas utility operations is
roughly the nationwide average for the sector.

Fuel Diversification and Good Operating Performance:

Power has a relatively diverse source of fuel for its generating
plants, which limits the impact associated with any negative shock
to a particular fuel source. In 2010, 52% of Power's generation
was from its interest in five nuclear plants, with 28% from
natural gas and 19% from coal.

These diverse fuel sources result in Power's assets being placed
all along the dispatch curve, enabling the company to benefit from
different electric generation market conditions. Power's baseload
units have had a solid operating record, with its nuclear plants
having achieved an aggregate capacity utilization factor of
greater than 90% in each of the past five years. The strong
performance of these baseload units gives Power a favorable
competitive position in its wholesale markets.

Multi-Year Hedging Program:

Power's ratings also incorporate the company's multi-year hedging
program. The company locks in prices for three-year intervals
through participation in the Basic Generation Services (BGS)
auction in New Jersey and power auctions held by the PJM Regional
Transmission Organization (PJM) and Independent System Operator
New England (ISO-NE). As of April 21, 2011, Power's nuclear and
baseload coal generation, which accounted for 71% of the company's
total generation in 2010, was fully hedged for 2011, 60%-70%
hedged for 2012, and 20%-30% hedged for 2013.

Strong Financial Metrics:

The ratings on PSEG, Power, and PSE&G are bolstered by strong
financial metrics, aided by management's relatively conservative
use of debt. Power's EBITDA will likely decrease in 2011 and 2012
due to higher-priced electricity hedges rolling off and from
continued pressure on power prices as a result of weak demand and
low natural gas prices. However, Power's financial metrics have
sufficient cushion for the ratings and Fitch anticipates cash
flows remaining robust enough to retire debt as needed to maintain
appropriate strength. Fitch expects Power's funds from operations
(FFO) to debt ratio to average more than 35% over the 2011-13
period, and its EBITDA to interest coverage ratio to remain
greater than 6.0 times (x).

Electric and natural gas rate increases implemented by PSE&G in
2010 along with multi-year BPU-approved infrastructure and FERC-
approved transmission projects should provide significant growth
to EBITDA in 2011 and through 2013. During this forecast period,
Fitch expects PSE&G's FFO to debt ratio to average more than 25%
and its EBITDA to interest coverage ratio to average more than
6.0x.

Fitch's expectations for continued strong financial performance at
Power and PSE&G should provide similarly strong consolidated
financial metrics at PSEG. Fitch expects PSEG's FFO to debt ratio
to average more than 30% and its EBITDA to interest coverage ratio
to average more than 6.0x over the 2011-13 period.

Adequate Liquidity:

PSEG, Power, and PSE&G all have adequate liquidity. PSEG and PSE&G
each has its own commercial paper program to meet short-term
liquidity requirements, with PSEG using its program to also meet
the short-term liquidity needs of Power.

The companies have an aggregate $4.3 billion in bank credit
facilities. This includes a total of $2.1 billion of five-year
revolving credit facilities that were recently renewed and mature
in April 2016. Another $2.1 billion of revolving credit facilities
matures in December 2012, and Fitch expects them to be renewed
next year prior to maturity.

PSEG's share of the revolving credit facilities totals $1 billion,
with Power's totaling $2.7 billion and PSE&G's totaling $600
million.

Volatility of Power and Fuel Commodity Prices:

The primary credit concern for Power is the company's exposure to
price volatility in the power and fuel markets. Power will
generally have a significant share of its power generation
unhedged each year, leaving it vulnerable to periods of weak power
prices. It is important, therefore, that management continues to
keep its leverage at a manageable level to allow the company to
absorb periods of weak cash flows without too much strain on the
balance sheet.

Regulatory and Legislative Uncertainty:

Another concern for Power is the uncertain regulatory environment
for nuclear power plants following the disaster at the Fukushima
Daiichi nuclear facilities in Japan. The Nuclear Regulatory
Commission (NRC) is reviewing the causes of the disaster to
determine if any modifications should be required for U.S. nuclear
facilities. It is possible that any proposed modification could be
costly to implement, but these expenses would likely be one-time
in nature. The NRC recently approved 20-year licensing renewals
for three of Power's nuclear plants, alleviating any near-term
licensing concerns.

An additional concern for Power is the enactment of the long-term
capacity agreement pilot program (LCAPP) by the New Jersey
legislature. The LCAPP would subsidize the construction of nearly
2,000 megawatts of baseload generation in New Jersey, which would
lower prices in the competitive wholesale market. The potential
impact is mitigated by a FERC ruling that the new capacity would
be subject to a minimum bid rule. Fitch will continue to monitor
the situation and possible impact on Power.

Increased Capital Spending Program:

PSE&G's increased capital spending program is somewhat of a
concern, given the financing needs that are required. However, the
utility's capital spending program isn't overly large relative to
FFO, and the spending is primarily on BPU-authorized
infrastructure projects and FERC-regulated transmission projects,
both of which include timely recovery of costs and attractive
returns.

Company Profile:

PSEG is a holding company and parent of businesses that operate in
the electric and natural gas utility sector. Its principal
subsidiaries are Power and PSE&G.

Power is an unregulated power producer with more than 13,500 MW of
generation capacity that operates in the Mid-Atlantic region of
PJM, New York, and Connecticut. It owns and operates the Salem and
Hope Creek nuclear generating stations in Lower Alloways Creek, NJ
and is a 50% owner of the Peach Bottom Nuclear generating station
in Delta, PA.

PSE&G is one of the largest combined electric and natural gas
utilities in the U.S. and is New Jersey's oldest and largest
publicly owned utility. PSE&G serves 2.2 million electric
customers and 1.8 million gas customers throughout the state of
New Jersey.

Energy Holdings pursues opportunities in renewable energy,
including solar, offshore wind, and compressed air energy storage.
The company also manages a portfolio of leveraged-lease
investments in energy infrastructure.

Fitch has affirmed these ratings, with a Stable Outlook:

PSEG

   -- Long-term IDR at 'BBB+';

   -- Senior unsecured debt at 'BBB+';

   -- Short-term IDR at 'F2';

   -- Commercial paper at 'F2'.

Power

   -- Long-term IDR at 'BBB+';

   -- Senior unsecured debt at 'BBB+'.

PSE&G

   -- Long-term IDR at 'BBB+';

   -- Senior secured debt at 'A';

   -- Pollution control revenue bonds at 'A';

   -- Short-term IDR at 'F2';

   -- Commercial paper at 'F2'.

Fitch has affirmed and withdrawn these ratings:

Energy Holdings

   -- Long-Term IDR at 'BB+'.


QIMONDA RICHMOND: Reaches $35 Million Deal in WARN Act Suit
-----------------------------------------------------------
Lisa Uhlman at Bankruptcy Law360 reports that Qimonda Richmond LLC
on Monday reached a $35 million settlement in a Worker Adjustment
and Retraining Notification Act class action in Delaware that
accused the defunct chip maker of failing to pay former employees
severance when it shut down in February 2009.

According to Law360, the parties sought court approval of the
settlement, under which Qimonda will create a common fund
consisting of an $8 million priority claim and general unsecured
claims of $10 million and $17 million against Qimonda and its
North American unit, respectively.

                       About Qimonda AG

Qimonda AG (NYSE: QI) -- http://www.qimonda.com/-- is a leading
global memory supplier with a diversified DRAM product portfolio.
The Company generated net sales of EUR1.79 billion in financial
year 2008 and had -- prior to its announcement of a repositioning
of its business -- approximately 12,200 employees worldwide, of
which 1,400 were in Munich, 3,200 in Dresden and 2,800 in
Richmond, Va.

Qimonda AG commenced insolvency proceedings in a local court in
Munich, Germany, on Jan. 23, 2009.  On June 15, 2009, QAG filed
a petition (Bankr. E.D. Va. Case No. 09-14766) for relief under
Chapter 15 of the U.S. Bankruptcy Code.

Qimonda North America Corp., an indirect and wholly owned
subsidiary of QAG, is the North American sales and marketing
subsidiary of QAG.  QNA is also the parent company of Qimonda
Richmond LLC.  QNA and QR sought Chapter 11 protection (Bankr.
D. Del. Case No. 09-10589) on Feb. 20, 2009.  Mark D. Collins,
Esq., Michael J. Merchant, Esq., and Lee E. Kaufman, Esq., at
Richards Layton & Finger PA, in Wilmington Delaware; and Mark
Thompson, Esq., Morris J. Massel, Esq., and Terry Sanders, Esq.,
at Simpson Thacher & Bartlett LLP, in New York City, represent the
Debtors as counsel.  Roberta A. DeAngelis, the United States
Trustee for Region 3, appointed seven creditors to serve on an
official committee of unsecured creditors.  Jones Day and Ashby &
Geddes represent the Committee.  In its bankruptcy petition,
Qimonda Richmond, LLC, estimated more than US$1 billion in assets
and debts.  The information, the Debtors said, was based on
Qimonda Richmond's financial records which are maintained on a
consolidated basis with Qimonda North America Corp.


QSGI INC: Hits IBM With Antitrust Suit Over Mainframe Resales
-------------------------------------------------------------
Melissa Lipman at Bankruptcy Law360 reports that QSGI Inc. hit IBM
Corp. with a multimillion-dollar suit Wednesday in Florida
claiming the technology giant forced it out of the mainframe
market and into bankruptcy.

Just months after emerging from Chapter 11 protection, QSGI
targeted IBM and its IBM Global Financing unit under two Florida
antitrust statutes, according to Law360.

Law360 relates that the complaint alleges that the companies in
2007 suddenly refused to give outsider resellers like QSGI the
parts and code necessary to modify the used multimillion-dollar
mainframes for new purchasers.

                          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.


R AND M WESSLER: Case Summary & 13 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: R and M Wessler, Inc.
        3749 N. Josey
        Carrollton, TX 75007

Bankruptcy Case No.: 11-42360

Chapter 11 Petition Date: August 1, 2011

Court: United States Bankruptcy Court
       Eastern District of Texas (Sherman)

Debtor's Counsel: Eric A. Liepins, Esq.
                  ERIC A. LIEPINS P.C.
                  12770 Coit Road, Suite 1100
                  Dallas, TX 75251
                  Tel: (972) 991-5591
                  E-mail: eric@ealpc.com

Scheduled Assets: $500,000

Scheduled Debts: $1,012,842

A list of the Company's 13 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/txeb11-42360.pdf

The petition was signed by Mark Wessler, vice president.


RADICAL BUNNY: ML Servicing's Suit Sent Back to State Court
-----------------------------------------------------------
Ian Thoms at Bankruptcy Law360 reports that an Arizona federal
judge on Tuesday sent back to state court ML Servicing Co. Inc.'s
suit against former securities counsel Greenberg Traurig LLP and
one of its partners, saying the action contains malpractice and
fiduciary claims that exist regardless of the ex-mortgage
servicer's bankruptcy.

The suit, now residing in the Maricopa County Superior Court, is
one of many linked to the fraud committed by Radical Bunny LLC,
according to Law360.

                        About Radical Bunny

On Oct. 8, 2008, three investors -- Cathy Baker of Chandler; Laing
Kandel of Brooklyn, New York; and Steven Friedberg -- filed an
involuntary petition under Chapter 7 of the Bankruptcy Code
against Radical Bunny LLC in the U.S. Bankruptcy Court for the
District of Arizona.  Carlos M. Arboleda, Esq. --
arboledac@abfirm.com -- at Arboleda Brechner, in Phoenix, Arizona,
represents the petitioning creditors.

On Oct. 20, 2008, the bankruptcy judge entered an order converting
the case to Chapter 11 (Bankr. D. Ariz. Case No. 08-13884).  The
Debtor's estate is currently controlled by a trustee, G. Grant
Lyon.

Judge Charles G. Case II presides over the case.

Mr. Lyon, as the Chapter 11 trustee, is represented by:

       Jordan A. Kroop, Esq.
       Shelton L. Freeman, Esq.
       Thomas j. Salerno, Esq.
       SQUIRE, SANDERS & DEMPSEY (US) LLP
       1 E Washington St #2700
       Phoenix, AZ 85004
       Tel: (602) 528-4024
       Fax: (602) 253-8129
       E-mail: jkroop@ssd.com
               tsalerno@ssd.com


RADIENT PHARMACEUTICALS: Amends 4% Convertible Notes
----------------------------------------------------
As reported in Radient Pharmaceuticals Corporation's Form 8-K
July 1, 2011, the Company was in default to each of the holders of
its convertible notes due Dec. 1, 2011, in the original principal
amount of $8,437,500.  As a result of those defaults, the
Company's total liabilities to the 2011 Noteholders aggregated
$22,301,761.  The Company entered into an exchange agreement on
June 29, 2011, with Iroquois Master Fund Ltd., Cranshire Capital,
L.P., Freestone Advantage Partners, L.P., Bristol Investment Fund,
Ltd. and Kingsbrook Opportunities Master Fund LP, in order to
settle the Company's obligations to each of the 2011 Noteholders.

Pursuant to the terms of the Exchange Agreement, each 2011
Noteholder agreed to exchange its claims against the Company, its
subsidiaries and certain of their respective current and former
officers, directors and representatives for (i) the Company's 4%
convertible notes ($4,950,000 original principal amount in the
aggregate), (ii) shares of 4% Series A Convertible Preferred Stock
of the Company (with an aggregate stated value of $6,701,000)
under a Certificate of Designations of Series A Convertible
Preferred Stock, and (iii) a warrant, expiring 5 years from the
date of the receipt of Stockholder Approval, to purchase
additional shares of our common stock.  Under the Exchange
Agreement, each of the 2011 Noteholders and their affiliated and
related persons and entities also received a mutual full release
from the Company.

On Aug. 1, 2011, the Company amended the Notes to, among other
things, delete in its entirety the term Automatic Conversion Price
and replaced with the following:


    "Automatic Conversion Price" means, with respect to a
     particular date of determination, the lower of (i) the
     Conversion Price then in effect and (ii) the price which is
     equal to the product of (1) 70% multiplied by (2) the
     quotient of (A) the sum of each of the three (3) lowest
     Closing Bid Prices of the Common Stock during the twenty (20)
     consecutive Trading Day period immediately preceding the
     applicable Installment Date (or, solely with respect to the
     First Installment Date, the sum of each of the three (3)
     lowest Closing Bid Prices of the Common Stock during the
     period commencing on the Issuance Date and ending on the
     Trading Day immediately preceding the First Installment Date)
    (each such period, an "Automatic Conversion Measuring Period")
     divided by (B) three (3).  All such determinations to be
     appropriately adjusted for any stock split, stock dividend,
     stock combination or other similar transaction during any
     such Automatic Conversion Measuring Period.  In the event of
     a dispute as to the determination of the Automatic Conversion
     Price, then such dispute shall be resolved pursuant to
     Section 21.

Additionally, in accordance with the August 1st Amendment, the
Company will issue 17,000,000 additional shares of common stock to
the 2011 Noteholders.

A full-text copy of the Form 8-K is available for free at:

                        http://is.gd/9ioI0i

                    About Radient Pharmaceuticals

Headquartered in Tustin, Calif., Radient Pharmaceuticals
Corporation -- http://www.Radient-Pharma.com/-- is engaged in the
research, development, manufacturing, sale and marketing of its
ONKO-SURE(TM) a proprietary IVD Cancer Test in the United States,
Canada, China, Chile, Europe, India, Korea, Taiwan, Vietnam and
other markets throughout the world.

Radient said in October 2010 it incurred a trigger event on the
12% Convertible Notes issued in first and second quarter of 2010
due to its failure to have the related registration statement
declared effective by June 1, 2010.  The Company filed on Sept. 7,
2010, an Event of Default under those same notes occurred since it
did not hold the related shareholder meeting by Aug. 31, 2010.

The Company reported a net loss of $85.71 million on $231,662 of
net revenues for the year ended Dec. 31, 2010, compared with a net
loss of $16.62 million on $8.62 million of net revenues during the
prior year.

The Company's balance sheet at March 31, 2011, showed $5.56
million in total assets, $19.04 million in total liabilities, all
current, and a $13.48 million total stockholders' deficit.

RPC's Form 10-K for the fiscal year ended Dec. 31, 2010, included
an audit opinion with a "going concern" explanatory paragraph.  As
reported by the TCR on May 31, 2011, KMJ Corbin & Company LLP,
in Costa Mesa, California, expressed substantial doubt about the
Company's ability to continue as a going concern.  The independent
auditors noted that the Company has incurred significant operating
losses, had negative cash flows from operations in 2010 and 2009,
and has a working capital deficit of approximately $53 million at
Dec. 31, 2010.


REAL MEX RESTAURANTS: Waives Defaults Under Principal Debt Pacts
----------------------------------------------------------------
Real Mex Restaurants, Inc., reached an agreement with lenders to
waive and amend certain covenants as it works to revise its
corporate capital structure.  The company also reported that it
made a $9.1 million interest payment due this month.  An affiliate
of Sun Capital Partners provided additional liquidity as part of
the ongoing restructuring process.

All financial stakeholders are working together on a revised
capital structure that recognizes economic realities and addresses
future needs, the Company said.

"Our core business continues to improve and the operating
performance of our restaurant brands is making strong progress
under new leadership," said Real Mex Chairman & CEO David
Goronkin.  "Although our company continues to generate substantial
earnings, the current capital structure, certain above-market
leases and the soft economy slow our headway.  By addressing these
issues now we'll be able to move forward more quickly."

The Company entered into a Limited Waiver and Amendment No. 6 to
Second Amended and Restated Revolving Credit Agreement, dated as
of Jan. 29, 2007.  The GECC Amendment is available for free at:

                        http://is.gd/SqYrOa

The Company entered into a Second Supplemental Indenture which
provides for amendments to the existing Indenture governing the
Company's 14% Senior Secured Notes due 2013.  The
Supplemental Indenture is available for free at:

                        http://is.gd/aRCij5

The Company entered into a Limited Waiver and First Amendment to
the Second Amended and Restated Credit Agreement dated as of
July 7, 2009.  The Opco Amendment is available for free at:

                        http://is.gd/VhZU4t

Holdco entered into a Limited Waiver and Second Amendment to the
Credit Agreement, dated as of July 7, 2009.  The Holdco Amendment
is available for free at:

                        http://is.gd/hBi17w

In addition to the above modifications, the GECC Credit Agreement,
the Indenture, the Opco Term Facility and the Holdco Term Facility
have each been amended to add certain additional events of default
relating to a failure by the Company to:

   * submit a reasonably detailed proposal to restructure the
     Company's material debt arrangements on or prior to Sept. 15,
     2011; and

   * negotiate and execute a binding restructuring term sheet,
     plan support agreement, lock-up agreement or similar
     agreement containing the substance of the Comprehensive
     Restructuring Plan or another restructuring plan with respect
     to the Company's material debt arrangements on or prior to
     Oct. 31, 2011.

                  Arrangement of Certain Officers

Effective July 28, 2011, James Shein was appointed as a director
of the Company, filling the vacancy caused by the resignation of
Craig S. Miller.  Mr. Shein will be entitled to receive director
fees of $50,000 per year during his service as a director of the
Company.  In addition, Mr. Shein will be entitled to reimbursement
of his reasonable out-of-pocket expenses in connection with his
travel to and attendance of meetings of the Board of Directors or
committees thereof in accordance with the Company's standard
policies.

Effective Aug. 29, 2011, Mike Keeland, 52, will be appointed as
President of Real Mex Foods, Inc., the Company's purchasing,
distribution, and manufacturing subsidiary.  Mr. Keeland most
recently served as Chief Executive Officer of Annie Chun's, Inc.,
an Asian natural consumer packaged goods company specializing in
noodle, rice, and sauce products, for over two years, prior to
which Mr. Keeland served as the Vice President of Sales &
Marketing of Annie Chun's, Inc. for five years.  Mr. Keeland also
served as Regional Director of Pinnacle Foods/Vlasic Foods
International and National Sales Manager of Campbell Soup Company.

The offer letter provides for an initial annual base salary of
$300,000.  Mr. Keeland will also be entitled to participate in the
Company's bonus program which makes him eligible to receive an
annual performance bonus with a target of up to 50% of his base
salary, which is guaranteed for 2011 on a prorated basis.  In
addition, Mr. Keeland will be granted options to purchase common
stock of Holdco in an amount commensurate with his position.  In
the event Mr. Keeland is terminated without cause, he will be
eligible to receive 6 months of his base salary and continued
medical and dental insurance coverage for the same period.

In connection with the modifications of debt agreements, the bonus
programs for the Company's Chief Executive Officer, Chief
Financial Officer and Chief Operating Officer were revised for the
2011 fiscal year to reduce their target bonuses from 50% of base
salary to 37.5% of base salary, but basing the bonus on EBITDAR
rather than EBITDA.  In addition, the Company's Chief Executive
Officer and Chief Financial Officer are also entitled to receive a
restructuring completion bonus of 15% of their base salaries.  In
order to receive the bonuses for the 2011 fiscal year, the Company
must complete the Comprehensive Restructuring Plan and the
officers must be employed by the Company on the date that the
bonuses are paid.

                       About Real Mex

Based in Cypress, California, Real Mex Restaurants, Inc., owns and
operates restaurants, primarily through its major subsidiaries El
Torito Restaurants, Inc., Chevys Restaurants, LLC, and Acapulco
Restaurants, Inc.  The Company operated 183 restaurants as of
March 28, 2010, of which 152 were located in California and the
remainder were located in 12 other states, primarily under the
trade names El Torito Restaurant(R), Chevys Fresh Mex(R) and
Acapulco Mexican Restaurant Y Cantina(R).  In addition, the
Company franchised or licensed 34 restaurants in 12 states and two
foreign countries as of March 28, 2010.  The Company's other major
subsidiary, Real Mex Foods, Inc., provides internal production,
purchasing and distribution services for the restaurant operations
and also provides distribution services and manufactures specialty
products for sale to outside customers.

Real Mex carries a 'Caa2' Corporate Family Rating, and stable
Outlook from Moody's Investors Service.  At the end of August
2010, Moody's said the 'Caa2' CFR continues to reflect the
challenges Real Mex will face to reverse its revenue decline
primarily driven by the ongoing, albeit somewhat decelerated,
negative same store sales trend, in a very difficult operating
environment for casual dining concepts.  The rating also
incorporates the company's high financial leverage, poor interest
coverage and weak free cash flow generation.

As reported by the TCR on June 28, 2011, Standard & Poor's Ratings
Services lowered its corporate credit rating on Cypress, Calif.-
based Real Mex Restaurants Inc. to 'CCC' from 'B-'.  "The rating
actions reflect our view that operating performance will remain
weak in 2011, likely requiring the company to amend financial
covenants," said Standard & Poor's credit analyst Andy Sookram.

The Company reported a net loss of $17.78 million on $227.91
million of total revenues for the six months ended Dec. 26, 2010,
compared with a net loss of $49.59 million on $500.60 million of
total revenues for the fiscal year ended Dec. 27, 2009.

The Company's balance sheet at March 27, 2011, showed $276.64
million in total assets, $255.35 million in total liabilities and
$21.29 million in total stockholders' equity.


RED EAGLE: Voluntary Chapter 11 Case Summary
--------------------------------------------
Debtor: Red Eagle Oil, Inc.
        P.O. Box 2468
        Cody, WY 82414

Bankruptcy Case No.: 11-20857

Chapter 11 Petition Date: August 1, 2011

Court: U.S. Bankruptcy Court
       District of Wyoming (Cheyenne)

Judge: Peter J. McNiff

Debtor's Counsel: Bradley T. Hunsicker, Esq.
                  WINSHIP & WINSHIP, P.C.
                  100 N. Center, 6th Floor
                  Casper, WY 82602
                  Tel: (307) 234-8991
                  Fax: (307) 234-1116
                  E-mail: brad@winshipandwinship.com

Estimated Assets: Not Stated

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 Dale Hinze, president.


RENZO RENZI: Judge Dismisses Chapter 11 Bankruptcy Case
-------------------------------------------------------
Paul Brinkmann at the South Florida Business Journal reports that
Miami developer Renzo Renzi has been dismissed from bankruptcy
court in several cases after telling a judge he couldn't afford to
reorganize his debt under Chapter 11.

According to the report, Mr. Renzi's personal bankruptcy case and
at least two business bankruptcies were dismissed: The Sail
Condominium and Renzi Building.  The business bankruptcies were
dismissed July 6.

On July 29, Doral-based U.S. Century Bank won a $6.6 million final
judgment against Renzi, The Sail, Renzi Building and other parties
in Miami-Dade Circuit Court.  Mr. Renzi had been facing
foreclosure on bulk units at The Sail and on his namesake Renzi
Building, 2200 S. Dixie Highway in Miami.  He had filed several
"pro se" bankruptcies -- handwritten and without attorney
representation.

U.S. Bankruptcy Judge Laurel Isicoff dismissed Renzi's personal
case in March because he failed to meet deadlines for disclosing
details about his debts and creditors.  He initially filed for
personal Chapter 7 liquidation.

U.S. Bankruptcy Judge Robert Mark dismissed the cases, ordering
that they could not be refiled for 18 months, according to the
report.


RUSSELL DRIVE: Case Summary & 3 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Russell Drive, LLC
        4303 Russell Drive
        Austin, TX 78704

Bankruptcy Case No.: 11-11915

Chapter 11 Petition Date: August 1, 2011

Court: U.S. Bankruptcy Court
       Western District of Texas (Austin)

Judge: Craig A. Gargotta

Debtor's Counsel: John W. Alvis, Esq.
                  JOHN W. ALVIS, ATTORNEY AT LAW
                  P.O. Box 1068
                  San Marcos, TX 78667-1068
                  Tel: (512) 350-8144
                  Fax: (512) 393-3356
                  E-mail: alvislaw@aol.com

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

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

A list of the Company's three largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/txwb11-11915.pdf

The petition was signed by Charles E. Howard, president and
manager.


RVTC LP: U.S. Trustee Unable to Form Committee
----------------------------------------------
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 Rialto Village Town
Center have expressed interest in serving on a committee.

The U.S. Trustee reserves the right to appoint such a committee
should interest developed among the creditors.

                         About RVTC LP

Rialto Village Town Center is a proposed $60 million to $70
million mixed-used development on 24 acres on the far Northwest
Side in San Antonio, Texas.

RVTC Limited Partnership fka Fair Prospects, L.P., owner of the
Rialto Village Town Center, filed for Chapter 11 bankruptcy
protection (Bankr. W.D. Tex. Case No. 11-52240) on June 29, 2011.
Judge Leif M. Clark presides over the case.  Thomas Rice, Esq., at
Cox smith Matthews Incorporated, represents the Debtor.  The
Debtor estimated both assets and debts of between $10 million and
$50 million.


S2K MANAGEMENT: Case Summary & 13 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: S2K Management Group Inc.
        239 N. Pecos Rd.
        Henderson, NV 89074

Bankruptcy Case No.: 11-22198

Chapter 11 Petition Date: August 1, 2011

Court: United States Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Linda B. Riegle

Debtor's Counsel: Ryan Alexander, Esq.
                  LAW OFFICES OF RYAN ALEXANDER
                  200 E. Charleston Blvd.
                  Las Vegas, NV 89104
                  Tel: (702) 222-3476
                  Fax: (702) 252-3476
                  E-mail: ryan@thefirm-lv.com

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

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

A list of the Company's 13 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/nvb11-22198.pdf

The petition was signed by Hong Jun Eom, president.


SANDIA RESORTS: Case Summary & 3 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Sandia Resorts, Inc.
        dba America's Best Value Inn Suites
        fdba Ramada Limited
        5601 Alameda Blvd. NE
        Albuquerque, NM 87113

Bankruptcy Case No.: 11-13489

Chapter 11 Petition Date: August 1, 2011

Court: United States Bankruptcy Court
       New Mexico (Albuquerque)

Judge: James S. Starzynski

Debtor's Counsel: Bonnie Bassan Gandarilla, Esq.
                  MOORE, BERKSON & GANDARILLA, P.C.
                  P.O. Box 7459
                  Albuquerque, NM 87194
                  Tel: (505) 242-1218
                  Fax: (505) 242-2836
                  E-mail: mbglaw@swcp.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 three largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/nmb11-13489.pdf

The petition was signed by Harminder S. Sian, president.


SECUREALERT INC: Borinquen Container Holds 16.46% Equity Stake
--------------------------------------------------------------
In a Schedule 13G filing with the U.S. Securities and Exchange
Commission, Borinquen Container Corporation and Hector L. Gonzalez
disclosed that they beneficially own 80,012,276 shares of common
stock of SecureAlert, Inc., representing 16.46% of the shares
outstanding.  A full-text copy of the regulatory filing is
available at no charge at http://is.gd/CW1z2K

                       About SecureAlert Inc.

Sandy, Utah-based SecureAlert, Inc. (OTC BB: SCRA)
-- http://www.securealert.com/-- is an international provider of
electronic monitoring systems, case management and services widely
utilized by more than 650 law enforcement agencies worldwide.

The Company reported a net loss of $2.07 million on $3.68 million
of revenue for the three months ended Dec. 31, 2010, compared with
a net loss of $5.53 million on $3.20 million of total revenue for
the same period a year earlier.

The Company's balance sheet at March 31, 2011, showed $12.77
million in total assets, $11.06 million in total liabilities and
$1.71 million in total equity.


SHERI'S CABARET: Bar Foreclosure Plea Denied; Plan In The Works
---------------------------------------------------------------
Steve Green at Vegas Inc. reports that Bankruptcy Judge Mike
Nakagawa has rejected an effort by City National Bank to foreclose
on Sheri's Cabaret topless dancing bar in Las Vegas, giving
Sheri's a boost as it tries to emerge from bankruptcy.

Judge Nakagawa rejected the latest foreclosure attempt, in which
City National said it's owed $3.5 million as the holder of the
mortgage for Sheri's building.

According to the report, City National said an August 2009
appraisal found the building is worth just $890,000 and that it
should be allowed to foreclose as Sheri's hasn't been making
mortgage payments and there's no hope for it to successfully
reorganize in bankruptcy.

Attorneys for Sheri's, however, argued the building is worth $4.89
million according to its November 2009 appraisal and that's more
than what is owed to City National Bank and second-lien lender
Bank of Nevada (owed $357,000).

City National said conversion to a Chapter 7 is appropriate
because Sheri's continues to lose money and has been unable to
confirm a reorganization plan, notes Vegas Inc.

Vegas Inc. notes, in the alternative, the bank's attorneys said,
appointing a Chapter 11 trustee to supervise the club is
warranted because there have been losses, incompetence or gross
mismanagement and there may have been a commingling of funds or
an improper transfer of assets.

Attorneys for Sheri's have been working on its reorganization plan
and last month, they reported the business lost $14,900 in June on
revenue of $73,907.

Citing the recession, the owner of Sheri's Cabaret, 2580 S.
Highland Drive, filed for Chapter 11 reorganization in December
2009 in U.S. Bankruptcy Court for Nevada in Las Vegas.


SHERMAN SSA: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: Sherman SSA Ltd.
        1335 Steeple Chase Lane
        Aledo, TX 76008

Bankruptcy Case No.: 11-44399

Chapter 11 Petition Date: August 1, 2011

Court: U.S. Bankruptcy Court
       Northern District of Texas (Ft. Worth)

Judge: Russell F. Nelms

Debtor's Counsel: Jeffrey R. Erler, Esq.
                  BELL NUNNALLY & MARTIN, LLP
                  3232 McKinney Avenue, Suite 1400
                  Dallas, TX 75204
                  Tel: (214) 740-1490
                  Fax: (214) 740-1499
                  E-mail: jeffe@bellnunnally.com

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 Kenneth Gilbert.


SI GRAND TRAVERSE: Chapter 11 Trustee Appointment Warranted
-----------------------------------------------------------
WestLaw reports that the appointment of a Chapter 11 trustee for
the estate of a debtor-hotel franchise operator better served the
interests of creditors and the estate than a conversion or
dismissal of the case due to the debtor's unauthorized use of cash
collateral and inability to fund hotel operations.  The debtor's
secured creditors appeared to agree that the payment of claims
depended upon the hotel's continued operations, and the largest
secured creditor was willing to negotiate with a trustee but
refused to work with debtor's management. Conversion or dismissal
also would likely lead to a state-court receivership, the efficacy
of which the bankruptcy court doubted, given, among other
concerns, the impracticalities and inefficiencies of dueling state
and federal proceedings.  In re SI Grand Traverse LLC, --- B.R. --
--, 2011 WL 2181355 (Bankr. W.D. Mich.).

SI Grand Traverse L.L.C., the operator of the Sleep Inn hotel
franchise located at 5520 US-31 North, in Acme, Michigan, filed a
voluntary petition (Bankr. W.D. Mich. Case No. 11-04316) for
relief under chapter 11.


SIRIUS XM: Reports $173.3 Million Net Income in June 30 Quarter
---------------------------------------------------------------
Sirius XM Radio reported net income of $173.32 million on $744.39
million of total revenue for the three months ended June 30, 2011,
compared with net income of $15.27 million on $699.76 million of
total revenue for the same period during the prior year.

The Company also reported net income of $251.44 million on $1.46
billion of total revenue for the six months ended June 30, 2011,
compared with net income of $56.87 million on $1.36 billion of
total revenue for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $7.30 billion
in total assets, $6.81 billion in total liabilities and $494.61
million in total stockholders' equity.

"Our results in the second quarter were strong, and we are proud
of our record levels of subscribers, revenue, and adjusted EBITDA
and growth in free cash flow.  Despite a dip in the seasonal rate
of auto sales in the second quarter, SiriusXM continues to perform
well, and we are pleased to raise our subscriber guidance and, for
the second time this year, our free cash flow guidance," said Mel
Karmazin, Chief Executive Officer, SiriusXM.

A full-text copy of the press release announcing the financial
results is available for free at http://is.gd/Fk1TvV

                       About Sirius XM Radio

Based in New York, Sirius XM Radio Inc. has two principal wholly
owned subsidiaries, XM Satellite Radio Holdings Inc. and Satellite
CD Radio Inc.  XM Satellite Radio Holdings Inc. owns XM Satellite
Radio Inc., the operating company for the XM satellite radio
service.  Satellite CD Radio Inc. owns the Federal Communications
Commission license associated with the SIRIUS satellite radio
service.  XM Satellite Radio Inc. owns XM Radio Inc., the holder
of the FCC license associated with the XM satellite radio service.

In July 2008, the Company's wholly owned subsidiary, Vernon Merger
Corporation, merged with and into XM Satellite Radio Holdings Inc.
and, as a result, XM Satellite Radio Holdings Inc. became Sirius'
wholly owned subsidiary.

                           *     *     *

Sirius carries (i) a 'BB-' corporate credit rating from Standard &
Poor's and (ii) 'B3' corporate family rating and 'B2' probability
of default rating from Moody's.

In October 2010, Moody's said the upgrade of Sirius XM's CFR to
'B3' from 'Caa1' reflects Moody's view that EBITDA (incorporating
Moody's standard adjustments) less capital spending to interest
expense will grow and comfortably exceed 1x in 2011, reflecting
higher than anticipated subscribers and revenue and reduced debt
service and programming costs.  As announced on October 1, 2010,
the company expects to add more than 1.3 million subscribers in
FY2010, bringing the year end total to 20.1 million and exceeding
prior expectations.  Despite high churn in the subscriber base,
vulnerability to cyclical consumer spending, and increasing
wireless competition, Moody's believe subscriptions will grow
through the end of 2011 as the economy and automotive sales
recover.  Heightened capital spending related to the ongoing
construction and launch of two satellites will likely limit free
cash flow generation in 2011.  The rating also reflects the
company's sizable debt burden as well as the need to invest
significantly in programming, marketing, launching new services,
and maintaining a satellite fleet to attract subscribers in
addition to delivering content.

As reported by the Troubled Company reporter on Dec. 14, 2010,
Standard & Poor's Ratings Services raised its corporate credit
rating on Sirius XM Radio and its subsidiaries, XM Satellite Radio
Holdings Inc. and XM Satellite Radio Inc. (which S&P analyze on a
consolidated basis), to 'BB-' from 'B+'.  The rating outlook is
stable.  "The action reflects the company's improving operating
performance, declining debt leverage, and the prospects for
continued improvement in credit measures for full-year 2010 and
2011," explained Standard & Poor's credit analyst Hal Diamond.

                           *     *     *

This concludes the Troubled Company Reporter's coverage of Sirius
XM Radio until facts and circumstances, if any, emerge that
demonstrate financial or operational strain or difficulty at
a level sufficient to warrant renewed coverage.


SL GREEN: S&P Assigns Rating to $300 Million Senior Notes
---------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BBB-' rating to
the proposed $300 million senior notes jointly and severally
issued by Reckson Operating Partnership L.P. (Reckson), SL Green
Realty Corp. (SL Green), and SL Green Operating Partnership L.P.
(SL Green OP). "At the same time, we assigned our '2' recovery
rating to the notes, indicating our expectation for a substantial
(70%-90%) recovery for unsecured senior noteholders in the event
of a payment default," S&P related.

SL Green, parent of Reckson and SL Green OP, plans to use the net
proceeds from the offering to repay a portion of the amount
outstanding under its revolving credit facility and for general
corporate purposes, which may include investment opportunities,
purchases of debt issued by SL Green's subsidiaries (including
Reckson and SL Green OP) in the open market, and the repayment of
indebtedness at the applicable maturity or put date. The
company's $1.5 billion credit facility had $500 million
outstanding at June 30, 2011. "Our ratings on SL Green reflect a
well-positioned office portfolio that should continue to
outperform its markets in terms of occupancy. We consider the
company's financial profile as significant and its business
profile as satisfactory," S&P said.

Standard & Poor's maintains a '2' recovery rating on SL Green's
unsecured senior notes. The '2' recovery rating indicates our
expectation for a substantial (70%-90%) recovery for unsecured
senior noteholders in the event of a payment default.

The outlook is stable. "We anticipate that the company will
ultimately refinance its credit facility debt with more costly
longer-term capital. However, further deleveraging, along with
incremental revenue from accretive investments, should somewhat
temper the potential erosion to debt coverage," S&P related.

Rating List

Reckson Operating Partnership L.P.      BB+/Stable
SL Green Realty Corp.                   BB+/Stable
SL Green Operating Partnership L.P.     BB+/Stable

Rating Assigned

Reckson Operating Partnership L.P.
SL Green Realty Corp.
SL Green Operating Partnership L.P.
Senior unsecured
  $300 million senior notes      BBB-
  Recovery rating                2


STELLAR GT: Court OKs Retention of Ballard Spahr as Counsel
-----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Maryland authorized
Stellar GT TIC, LLC, to hire Ballard Spahr LLP as its counsel nunc
pro tunc to the Petition Date.

As reported in the July 11, 2011 edition of the Troubled Company
Reporter, the Ballard Spahr attorneys and paralegal presently
designated to have primary responsibility in representing the
Debtors, and their hourly rates (as discounted for attorneys) are:

     (A) Attorneys
         Roger Winston: $640 (real estate)
         Matthew G. Summers: $494 (bankruptcy)
         Mark Jackson: $520 (real estate)
         Leslie Heilman: $361 (bankruptcy)
         Michelle McGeogh: $323 (bankruptcy/litigation)

     (B) Paralegals
         Jason Kittinger: $180

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.

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.


STELLAR GT: Reaches Deal Permitting Chapter 11 Cases to Continue
----------------------------------------------------------------
Chapter11Cases.com reports that Stellar GT TIC LLC and VFF TIC
LLC, the owners of The Georgian Building, which is an 891-unit
multi-family high rise property (consisting of two 14-story
apartment buildings) located at 8750 Georgia Avenue in Silver
Spring, Maryland, notified the Maryland bankruptcy court on
Tuesday that they have reached an agreement with their lenders and
the United States Trustee which will allow the Companies' Chapter
11 bankruptcy cases to continue.

The Debtors voluntarily filed for chapter 11 protection on
June 22, 2011, in order to effectuate an agreement with their
secured lender, Wells Fargo Bank, N.A., which is owed more than
$207 million.

Following the bankruptcy filing, the United States Trustee filed a
motion asking the bankruptcy court to dismiss the bankruptcy cases
or, alternatively, to convert the bankruptcy cases to Chapter 7
cases.  In its motion, the U.S. Trustee argued that the bankruptcy
cases are "akin to a two-party dispute in which courts, under
similar circumstances, have elected either to dismiss the case as
not filed in good faith or to abstain."  The Trustee also argued
that the cases should be dismissed because "there is subjective
bad faith and objective futility (there is no realistic
possibility of an effective reorganization)."  According to the
U.S. Trustee, the Debtors' secured creditors (Wells Fargo and
General Electric Co., which has asserted mechanics' liens) have
adequate remedies in state law and that it would be "less costly
to sell the Georgian under the auspices of the state court versus
the bankruptcy court."

According to the report, despite the U.S. Trustee's various
arguments that the bankruptcy cases should be dismissed, the
parties have come to an agreement which will allow the bankruptcy
cases of Stellar GT TIC LLC and VFF TIC LLC to continue.  The
primary terms of the agreed order which has been submitted to the
court are:

  -- The proposed disclosure statement and plan will be modified
     to provide that General Electric will be paid "at least 25%
     on its claim (subject to increase if a third party bid is
     higher than the applicable credit bid and funds are available
     in excess of the secured mortgage claim)".

  -- An agreement on the manner in which the Debtors' quarterly
     fees under 28 U.S.C. 1930(a)(6) will be calculated.
  -- The debtors are required to file a motion seeking approval of
     their cash management systems "reasonably promptly".

                      About Stellar GT TIC LLC

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 Debtor disclosed
assets of undetermined amount and liabilities of $207,623,768.

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


STREETLIGHT INTELLIGENCE: Receiver Continues to Manage Affairs
--------------------------------------------------------------
The Ottawa Citizen reports that a receiver continues to manage the
affairs of Streetlight Intelligence Inc.

As reported in the Troubled Company Reporter on June 2, 2011,
Times Colonist said that Streetlight Intelligence went into
receivership after running out of money.  The report related that
the public company has laid off 15 full-time employees and ceased
operating.  Trading of Streetlight shares (TSXV: SLQ) has been
halted on the TSX Venture Exchange.  In B.C. Supreme Court, G.
Powroznik Group of Vancouver was appointed receiver-manager of
Streetlight Intelligence and of its wholly owned subsidiary,
Streetlight Intelligence International Ltd, the report relates.
Streetlight had asked for the receivership order.

The Ottawa Citizen notes that Hydro Ottawa had bought $1 million
in share options and $500,000 in shares in the company, whose
technology allowed lights to be remotely programmed so they could
be dimmed at regular intervals or in specific locations to save
energy and money.

The share options are secured through priority rights to all of
the company's assets, including its intellectual property, wrote
Susan Barrett, Hydro Ottawa's acting manager of communications and
public affairs, in an e-mail response to questions, The Ottawa
Citizen relates.

Ms. Barrett wrote that it could be some time before the receiver -
who's to determine how to maximize the value of the company's
assets - determines "the best course of action," The Ottawa
Citizen discloses.

In a recent update, the receiver, G. Powroznik Group Inc., said
it's "still not clear whether there will be a net recovery for the
company's creditors or the shareholders," The Ottawa Citizen says.

The report adds that the receiver's objective is to sell the
assets and operations in order "to maximize the net realization
proceeds for creditors and, potentially, the shareholders," said
the update, filed July 27.


SW BOSTON: Judge to Rule on Novel Cramdown Issue
------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that SW Boston Hotel Venture LLC is giving U.S. Bankruptcy
Judge Joan N. Feeney in Boston the opportunity to pontificate on
an unsettled question of bankruptcy law pertaining to cramdown.

Mr. Rochelle explains that SW Boston's plan in reality is several
plans covering affiliated companies. Each company must meet plan-
confirmation requirements.  For some of the companies, there were
no creditors in any class who voted for or against the plan,
perhaps because they were to be paid in full with interest.

According to the report, Prudential Insurance Co. of America, the
secured lender currently owed $148 million, opposed approval of
the plan at the confirmation hearing held in July.  Prudential
contended in post-trial papers filed this week that the plan can't
be confirmed because cramdown requires at least one class that
votes "yes."

SW Boston, the report relates, filed papers saying the opposite.
The hotel owner pointed to a 1988 case from the U.S. Court of
Appeals in Denver saying that if a class neither votes on the plan
nor objects to confirmation, it should be deemed to have voted in
favor of the plan.

Even though classes including Prudential voted against the plan,
SW Boston contends the plan can be crammed down because several
other classes voted "yes," in addition to those that didn't vote
at all.

                      About SW Boston Hotel

Boston, Massachusetts-based SW Boston Hotel Venture LLC is the
Owner 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 was authorized by the bankruptcy judge on May 24, 2011,
to sell the hotel portion of the project for $89.5 million,
without an auction.


TCI COURTYARD: Case Summary & Largest Unsecured Creditor
--------------------------------------------------------
Debtor: TCI Courtyard, Inc.
        1750 Valley View Lane, Suite 440
        Dallas, TX 75234

Bankruptcy Case No.: 11-34977

Chapter 11 Petition Date: August 1, 2011

Court: U.S. Bankruptcy Court
       Northern District of Texas (Dallas)

Judge: Stacey G. Jernigan

Debtor's Counsel: Eric A. Liepins, Esq.
                  ERIC A. LIEPINS, P.C.
                  12770 Coit Road, Suite 1100
                  Dallas, TX 75251
                  Tel: (972) 991-5591
                  E-mail: eric@ealpc.com

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

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

The petition was signed by Craig Landess, vice president.

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

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Wells Fargo Bank, N.A. of J.P.     --                  $12,713,809
Morgan
Chase Commercial Mortgage
Securities Cor
CWCapital Asset Management LLC
701 13th
Washington, DC 20005


TELLICO LANDING: Case Now Assigned to Marcia Phillips Parsons
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Tennessee
assigned the Chapter 11 case of Tellico Landing, LLC, to
Bankruptcy Judge Marcia Phillips Parsons.

On July 28, 2011, Judge Richard Stair Jr. recused himself from
hearing future proceedings arising in the case and directed that
all matters related thereto will hereafter be heard by Judge
Parsons.

Tellico Landing, LLC, based in Maryville, Tennessee, filed for
Chapter 11 bankruptcy (Bankr. E.D. Tenn. Case No. 11-33018) on
June 27, 2011.  Judge Richard Stair, Jr., oversees the case.  The
Debtor scheduled $40,444,352 in assets and $8,532,455 in
liabilities.  The petition was signed by Michael L. Ross, its
chief manager.


TEN X: Seeks Interim Order to Use Cole Taylor's Cash Collateral
---------------------------------------------------------------
Ten X Capital Partners III, LLC (Series B), seeks an interim order
from the U.S. Bankruptcy Court for the Northern District of
Illinois for the use of cash collateral of Cole Taylor Bank
through Aug. 31, 2011.

Cole Taylor asserts claims against the Debtor, which as of May 3,
2011, totaled $6,434,850 with interest accruing from May 3, 2011
at the rate of $2,257.43 per day plus fees and costs.  Cole Taylor
asserts that its claims are secured by first mortgages on the
Debtor's real estate commonly known as 601 W. Polk St., Chicago,
IL 60607.  Cole Taylor further asserts that it holds a lien on all
of the rental revenue and receipts generated by the Real Estate by
operation of the assignment of rents it holds.

The Debtor projects that the Real Estate will general $109,854 in
rental revenue and receipts in July and $143,182 in August.  The
Debtor wishes to use the rental revenue and receipts.

Ten X Capital Partners III, LLC (Series B) operates an industrial
real property located at 601 W. Polk Street, Chicago, Illinois, as
a telecom hotel and storage facility.  Ten X Capital Partners III,
LLC (Series B) filed a voluntary Chapter 11 petition (Bankr. N.D.
Ill. Case No. 11-27294) on June 30, 2011.  Judge John H. Squires
presides over the case.  The Debtor is represented by Chester H.
Foster, Jr., Esq., at Foster & Smith.  In its petition, the Debtor
estimated $10 million to $50 million in assets, and $1 million to
$10 million in debts.  The petition was signed by John W. Branch,
manager of RM Advisors, LLC.


TENET HEALTHCARE: Posts $63 Million Net Income in June 30 Quarter
-----------------------------------------------------------------
Tenet Healthcare Corporation filed with the U.S. Securities and
Exchange Commission its Quarterly Report on Form 10-Q reporting
net income of $63 million on $2.37 billion of net operating
revenues for the three months ended June 30, 2011, compared with
net income of $35 million on $2.30 billion of net operating
revenues for the same period a year ago.

The Company also reported net income of $145 million on $4.88
billion of net operating revenues for the six months ended
June 30, 2011, compared with net income of $130 million on $4.64
billion of net operating revenues for the same period during the
prior year.

The Company's balance sheet at June 30, 2011, showed $8.43 billion
in total assets, $6.54 billion in total liabilities, $16 million
in redeemable noncontrolling interests in equity of consolidated
subsidiaries and $1.87 billion in total equity.

"Our results for the second quarter extended the positive momentum
we reported in recent quarters," said Trevor Fetter, president and
chief executive officer.  "Net revenues grew by 3.1 percent
reflecting growth of 1.0 percent in adjusted admissions and 1.1
percent growth in surgeries.  These increases provide additional
evidence that our growth initiatives are gaining traction.  Based
on the solid performance for the first half of the year, we are
reconfirming our Outlook for 2011 Adjusted EBITDA in the existing
range of $1.175 billion to $1.275 billion."

Dr. Stephen L. Newman, the Company's Chief Operating Officer, has
notified the Company that he will retire in mid-2012.

A full-text copy of the Form 10-Q is available for free at:

                        http://is.gd/mS8tUF

                       About Tenet Healthcare

Dallas, Texas-based Tenet Healthcare Corporation (NYSE: THC) --
http://www.tenethealth.com/-- is a health care services company
whose subsidiaries and affiliates own and operate acute care
hospitals, ambulatory surgery centers and diagnostic imaging
centers.

                           *     *     *

As reported by the TCR on Aug. 5, 2010, Moody's Investors Service
affirmed its 'B2' corporate family rating for Tenet.  The rating
reflects Moody's expectation that the Company will likely see
positive free cash flow for the full year ending Dec. 31,
2010, as operating results continue to improve and litigation
settlement payments end in the third quarter.  However, the
ratings also consider the significant headwinds facing the
company, and the sector as a whole, with respect to increasing bad
debt expense, weak volume trends and changes in mix as commercial
volumes decline.

S&P's corporate credit rating on Tenet is 'B' and remains
unchanged.  The ratings agency noted that while the Company has
experience recent successes to date of a multiyear turnaround
effort, the Company has a still-weak business risk profile and
high financial leverage.

Fitch Ratings has issued its Recovery Rating review of the U.S.
Healthcare sector.  This review includes an analysis of valuation
multiples, EBITDA discounts applied, and detailed recovery
worksheets for issuers with a Fitch Issuer Default Rating of 'B+'
or lower in this sector.

Fitch Ratings has placed Tenet Healthcare Corp.'s ratings on
Rating Watch Positive.  Tenet's existing ratings are Issuer
Default Rating 'B-'; Secured bank facility 'BB-/RR1'; Senior
secured notes 'BB-/RR1'; Senior unsecured notes 'B/RR3.  The
ratings apply to approximately $4.3 billion of debt outstanding as
of Sept. 30, 2010.


THINK3 INC: Italian Trustee Seeks to Take Over in Chapter 15
------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Think3 Inc., a developer of computer-aided design
software, will give U.S. Bankruptcy Judge H. Christopher Mott in
Austin, Texas, a chance to decide whether executives in the U.S.
or an Italian bankruptcy trustee has the right to control the
company and its reorganization.

Think3 sought Chapter 11 protection (Bankr. W.D. Tex. Case No.
11-11252) in May in Austin, its hometown, three months after
creditors filed an involuntary bankruptcy petition against the
company in a court in Bologna, Italy.  The company didn't oppose
the involuntary bankruptcy, according to the Italian trustee.

The Italian trustee filed a Chapter 15 petition (Bankr. W.D. Tex.
Case No. 11-11925) for Think3 in bankruptcy court in Austin on
Aug. 1, claiming she has the right to control the company's
restructuring through the Italian court.

According to the report, the Italian trustee noted that the court
in Texas is being asked by U.S. managers to sell property that is
being administered in a different manner by the court in Italy.
She said she has made "substantial progress towards a possible
reorganization or sale for the benefit of creditors."

Chapter 15 affords a U.S. bankruptcy court the ability to assist a
bankruptcy primarily pending elsewhere.  Relief in Chapter 15
isn't automatic.  For the Chapter 15 petition to succeed, the
Italian trustee must convince the judge in Austin that Italy is
home to the "foreign main proceeding."  In general terms, Italy is
the controlling court if the principal assets, principal business
activities or head office is in Italy.

Since the Italian bankruptcy was filed, there have been continuing
disputes over the right to control the company's assets.  ESW
Capital LLC acquired Think3 in September.  The primary debt is a
$23 million tax liability in Italy.


THINK3 INC: Chapter 15 Case Summary
-----------------------------------
Chapter 15 Petitioner: Dr. Andrea Ferri

Chapter 15 Debtor: think3 Inc.
                   6011 W. Courtyard Drive
                   Austin, TX 78730

Chapter 15 Case No.: 11-11925

Type of Business: The debtor is a company that provides design and
                  Modeling software.

Chapter 15 Petition Date: August 1, 2011

Court: U.S. Bankruptcy Court
       Western District of Texas (Austin)

Debtor's Counsel: Wesley W. Yuan, Esq.
                  DUANE MORRIS LLP
                  1330 Post Oak Boulevard, Suite 800
                  Houston, TX 77056
                  Tel: (713) 402-3911
                  Fax: (713) 513-5848
                  E-mail: wwyuan@duanemorris.com

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

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

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

Previous Chapter 11 filing by the Debtor:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Think3 Inc.                           11-11252            05/18/11


THORNBURG MORTGAGE: Barclays Aims to Dismiss $94-Mil. Suit
----------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the Chapter 11 trustee for Thornburg Mortgage Inc.
didn't oppose having his $94 million lawsuit against Barclays
Capital Inc. sucked upstairs from bankruptcy court to the U.S.
District Court in Maryland.

According to the report, U.S. District Judge Ellen L. Hollander
may soon rule on Barclays' motion to dismiss the suit entirely.
The trustee contends that Barclays made unauthorized margin calls
under documents governing a reverse repurchase agreement for
mortgage-backed securities.  Barclays' motion to dismiss is
founded on the notion that the documents and the facts in the
complaint show by themselves that Barclays had the right to demand
more collateral and call a default when it wasn't forthcoming.

Mr. Rochelle notes that at the same time he sued Barclays in
April, the trustee filed complaints against JPMorgan Chase & Co.,
Citigroup Inc., Credit Suisse Group AG, Royal Bank of Scotland
Group Plc and UBS AG for almost $2 billion. He also sued Bank of
America Corp. and Countrywide Home Loans Inc.  The suits allege
that the banks made "unjustified margin calls" that led to the
demise of Thornburg, a former jumbo mortgage lender and
securitizer.

                     About Thornburg Mortgage

Based in Santa Fe, New Mexico, Thornburg Mortgage Inc. (NYSE: TMA)
-- http://www.thornburgmortgage.com/-- was a single-family
residential mortgage lender focused principally on prime and
super-prime borrowers seeking jumbo and super-jumbo adjustable
rate mortgages.  It originated, acquired, and retained investments
in adjustable and variable rate mortgage assets.  Its ARM assets
comprised of purchased ARM assets and ARM loans, including
traditional ARM assets and hybrid ARM assets.

Thornburg Mortgage and its four affiliates filed for Chapter 11 on
May 1, 2009 (Bankr. D. Md. Lead Case No. 09-17787).  Thornburg
changed its name to TMST, Inc.

Judge Duncan W. Keir is handling the case.  The Debtors tapped
David E. Rice, Esq., at Venable LLP, in Baltimore, Maryland, is
tapped as counsel, and Orrick, Herrington & Sutcliffe LLP as
special counsel.  The Debtors hired Jim Murray, and David Hilty,
at Houlihan Lokey Howard & Zukin Capital, Inc., as investment
banker and financial advisor.  Protiviti Inc. was engaged for
financial advisory services.  The Debtors also hired KPMG LLP as
tax consultant and Epiq Systems, Inc., as claims and noticing
agent.  Thornburg disclosed total assets of $24.4 billion and
total debts of $24.7 billion, as of Jan. 31, 2009.

On Oct. 28, 2009, the Court approved the appointment of Joel I.
Sher as the Chapter 11 Trustee for the Company, TMST Acquisition
Subsidiary, Inc., TMST Home Loans, Inc., and TMST Hedging
Strategies, Inc.


THP GRAPHICS: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: THP Graphics Group, Inc.
        1118 Culpepper Drive
        Conyers, GA 30094

Bankruptcy Case No.: 11-72404

Chapter 11 Petition Date: August 1, 2011

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

Judge: James R. Sacca

Debtor's Counsel: Barbara Ellis-Monro, Esq.
                  ELLENBERG, OGIER, ROTHSCHILD & ROSENFELD
                  170 Mitchell Street, SW
                  Atlanta, GA 30303
                  Tel: (404) 525-4000
                  Fax: (404) 526-8855
                  E-mail: bem@eorrlaw.com

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

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ganb11-72404.pdf

The petition was signed by Jefferson R. Riley, president and CEO.


TITAN REALTY: Case Summary & Largest Unsecured Creditor
-------------------------------------------------------
Debtor: Titan Realty, LLC
        22 Hudson Drive
        Stony Point, NY 10980

Bankruptcy Case No.: 11-23561

Chapter 11 Petition Date: August 1, 2011

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

Judge: Robert D. Drain

Debtor's Counsel: Ronald De Caprio, Esq.
                  ATTORNEY AT LAW
                  65 West Ramapo Road
                  Garnerville, NY 10923
                  Tel: (845) 354-3212
                  Fax: (845) 354-3213
                  E-mail: rdecaprio@optonline.net

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

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

The petition was signed by Stuart Roberts, member.

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

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
PRIF II Titan, LLC                 70 Red Schoolhouse   $1,488,914
2160 North Central Road            Road Chestnut Ridge,
Fort Lee, NJ 07024                 New York 10977


TP INC: Chapter 11 Trustee Wants Case Converted to Chapter 7
------------------------------------------------------------
Algernon L. Butler, III, appointed trustee of TP Inc., asks the
U.S. Bankruptcy Court for the Eastern District of North Carolina
to convert the Debtor's case to one under Chapter 7 of the
Bankruptcy Code.

The trustee has conducted an investigation into the assets,
liabilities and financial affairs of the Debtor and of his
involvement in the case to date.

The trustee found that, among other things:

   -- the Debtor has no substantial tangible assets other than its
   real estate.  The Debtor has employees nor any ongoing business
   operations other than the rental of its real estate, the day-
   to-day management and details of which are being handled by
   Treasure Realty, Inc. and Century 21 Action, Inc. which are the
   property managers employed by the trustee.

   -- the value of the Debtor's real estate located at 3674 Island
   Drive in Topsail Beach, the three lots located in The Sanctuary
   in Mecklenburg County, the real estate located on Country Club
   Road in Hampstead (formerly owned by HP, Inc. and ordered by
   the Court to be transferred to TP, Inc.), exceeds the valid
   non-avoidable encumbrances against each respective property and
   the trustee has taken steps to market and sell these properties
   for the benefit the bankruptcy estate and creditors.  The
   Debtor may also own certain other underencumbered real estate
   which might be liquidated for the benefit of the estate.

   -- these factors are grounds for the conversion of the case to
   Chapter 7:

   a. The Debtor's unauthorized lease of property of the estate,
   and the collection by Ronald Bryant of the rents of such
   property of the estate for his individual benefit;

   b. The Debtor's failure to keep its property insured;

   c. The Debtor's failure to pay property taxes on its property;

   d. The Debtor's failure to comply with a court order, to the
   extent that it instructed its counsel to refuse to comply with
   a turnover of funds required by the consent order entered by
   the Court on Feb. 17;

   e. The Debtor's failure to pay Quarterly Fees when due, and
   lack of funds with which to make those payments; and

   f. The Debtor's failure to file monthly reports as required by
   Local Bankruptcy Rule 4002-1(b).

The trustee set an Aug. 25, hearing on the requested case
conversion.  Objections, if any, are due Aug. 22.

The trustee is represented by:

         Algernon L. Butler, III, Esq.
         P.O. Box 38
         Wilmington, NC 28402
         Tel: (910) 762-1908
         Fax: (910) 762-9441

                         About TP, Inc.

Boone, North Carolina-based TP, Inc., is in the business of
property development and currently owns a various tracts of real
estate in and around North Topsail, Topsail Beach, and Surf City,
North Carolina.  The Company filed for Chapter 11 protection on
March 1, 2010 (Bankr. E.D. N.C. Case No. 10-01594).  David J.
Haidt, Esq., at Ayers, Haidt & Trabucco, P.A., represented
the Debtor.  The Debtor tapped Trawick H. Stubbs, Jr., and Stubbs
& Perdue, as counsel, and Gary K. Shipman and Shipman & Wright,
L.L.P., as special counsel to assist in matters relating to claims
by Bank of America and its agents.
  In its schedules, the Debtor disclosed $13,156,424 in assets and
$4,129,049 in liabilities.

Algernon L. Butler, III, is the duly-appointed Chapter 11 trustee
in the case of TP Inc., and is represented by Butler & Butler,
LLP, as counsel.


TRI-STAR ESTATES: Case Dismissed for Failure to File Amended Plan
-----------------------------------------------------------------
Upon the motion of J.E. Robert Company, Inc., as special servicer
for Wells Fargo Bank, N.A., as trustee for Banc of America
Commercial Mortgage Inc. Commercial Pass-Through Certificates,
Series 2005-1, the U.S. Bankruptcy Court for the Northern District
of Illinois dismissed the Chapter 11 case of Tri-Star Estates,
LLC, for failure to file an Amended Plan as ordered.

As reported in the TCR on June 28, 2011, J.E. Robert Company Inc.
explained that:

   -- the Debtor's proposed plan treats the trust's claim as fully
      secured despite the fact that the appraised value of the
      trust's collateral is less than half of the amounts owed to
      the trust by the Debtor;

   -- the trust is undersecured in the case, and that the
      unsecured portion of its claim renders the Debtor's proposed
      plan unconfirmable;

   -- the Debtor has yet to file a Statement of Financial Affairs
      which lists transfers to insiders made within one year prior
      to the Petition Date.

The special servicer added that the Debtor's failure to disclose
transfers to insiders in the one year prior to its bankruptcy
filing appears to have been no oversight.

                     About Tri-Star Estates

Chicago, Illinois-based Tri-Star Estates, LLC, is the owner of a
manufactured home community, consisting of approximately
900 sites located at 43 East 5000 North Road, Bourbonnais,
Illinois.  The Company filed for Chapter 11 protection (Bankr.
N.D. Ill. Case No. 10-49360) on Nov. 3, 2010.  The Debtor
estimated assets and debts at $10 million to $50 million.

No trustee, examiner or committee of unsecured creditors has been
appointed to serve in the Debtor's Chapter 11 case.


ULTIMATE ESCAPES: Seeks Approval on Settlement With Baker
---------------------------------------------------------
BankruptcyData.com reports that Ultimate Escapes filed with the
U.S. Bankruptcy Court separate motions for orders approving a
settlement between Ultimate Escapes Holdings, Private Escapes
Platinum Lucignano and George Thomas Baker and a settlement
between Ultimate Escapes Holdings, Private Escapes Villa Cassia
and George Thomas Baker.

According to BData, Private Escapes Platinum Lucignano owns and
wishes to sell to Mr. Baker the Italian properties knows as Rigo
Salcio and Villa Cassia for $5,000 each in satisfaction of
outstanding mortgage indebtedness owed by Private Escapes Platinum
Lucignano to Mr. Baker.

Under the settlements, both parties agree to settle all legal
claims against each other without litigation or admission of
liability on either side.  The Court scheduled a hearing on the
motions for Aug. 24, 2011.

                       About Ultimate Escapes

Ultimate Escapes, Inc. -- http://www.ultimateescapes.com/-- was a
luxury destination club that sold club memberships offering
members reservation rights to use its vacation properties, subject
to the rules of the club member's Club Membership Agreement.  The
Company's properties are located in various resort locations
throughout the world.

Kissimmee, Florida-based Ultimate Escapes Holdings, LLC, filed for
Chapter 11 bankruptcy protection (Bankr. D. Del. Case No.
10-12915) on Sept. 20, 2010.  Affiliates Ultimate Resort, LLC;
Ultimate Operations, LLC; Ultimate Resort Holdings, LLC; Ultimate
Escapes, Inc. (fka Secure America Acquisition Corporation); P & J
Partners, LLC; UE Holdco, LLC; UE Member, LLC, et al., filed
separate Chapter 11 petitions.

Scott D. Cousins, Esq., Sandra G. M. Selzer, Esq., and Nancy A.
Mitchell, Esq., at Greenberg Traurig LLP, assist the Debtors in
their restructuring efforts.  CRG Partners Group LLC is the
Debtors' chief restructuring officer.  BMC Group Inc. is the
Company's claims and notice agent.

Christopher A. Ward, Esq., Shanti M. Katona, Esq., and Peter W.
Ito, Esq., at Polsinelli Shughart PC, represent the Creditors
Committee.

Ultimate Escapes estimated assets at $10 million to $50 million
and debts at $100 million to $500 million as of the Petition Date.


WAGSTAFF PROPERTIES: Seeks More Time to File Consensual Plan
------------------------------------------------------------
Wagstaff Minnesota Inc., and its debtor-affiliates ask the U.S.
Bankruptcy Court for the District of Minnesota to extend their
exclusive periods to file and solicit acceptances for the proposed
chapter 11 plan until Dec. 31, 2011, and Feb. 29, 2012,
respectively.

The Debtor need more time to engage in plan negotiations with the
parties-in-interest in the cases, including KFC Corporation,
General Electric Capital Corporation and its affiliates, Perella
Weinberg Partners Asset Based Value Master Fund I L.P. and its
affiliates, and the Official Committee of Unsecured Creditors.
These discussions with interested parties are necessary as they
will provide the information necessary to prepare a disclosure
statement and propose a plan that will have the support of all
constituents, according to the Debtors.

The Court will hold a hearing on the motion at 1:30 p.m. on
Aug. 11.  Objections, if any are due August 6.

                      About Wagstaff Properties

Hanford, California-based Wagstaff Properties LLC and its debtor-
affiliates filed for Chapter 11 protection (Bankr. D. Minn. Case
No. 11-43074) on April 30, 2011.

The cases are jointly administered with Wagstaff Minnesota Inc.
(Bankr. Case No. 11-43073).  Bankruptcy Judge Nancy C. Dreher
presides the case.  Fredrikson & Byron, PA, and Peitzman Weg &
Kempinsky LLP represent the Debtor in their restructuring efforts.
The debtors estimated assets and liabilities at $10 million to
$50 million.


WAGSTAFF PROPERTIES: Lease Decision Period Extended Until Nov. 25
-----------------------------------------------------------------
Wagstaff Minnesota Inc. and its debtor-affiliates ask the U.S.
Bankruptcy Court for the District of Minnesota to extend until
Nov. 25, 2011, the time to assume or reject unexpired non-
residential real property leases.

The Court will hold a hearing on the Debtors' request at 1:30 p.m.
on Aug. 11, 2011.  Objections, if any, are due Aug. 6, 2011.

The Debtors operate 77 Kentucky Fried Chicken restaurant
locations, each under separate non-residential real property
leases.  The leases are fundamental to the Debtors' operations.

The Debtors relate that absent an order of the Court extending the
time for assumption or rejection.  Their 120-day period expires on
Aug. 29, 2011.

The Debtors are formulating their restructuring strategy and
beginning to develop a viable joint plan of reorganization.  Until
this process is complete, the Debtors are unable to make an
informed decision to assume or reject the Leases.

                      About Wagstaff Properties

Hanford, California-based Wagstaff Properties LLC and its debtor-
affiliates filed for Chapter 11 protection (Bankr. D. Minn. Case
No. 11-43074) on April 30, 2011.

The cases are jointly administered with Wagstaff Minnesota Inc.
(Bankr. Case No. 11-43073).  Bankruptcy Judge Nancy C. Dreher
presides the case.  Fredrikson & Byron, PA, and Peitzman Weg &
Kempinsky LLP represent the Debtor in their restructuring efforts.
The debtors estimated assets and liabilities at $10 million to
$50 million.


WARNER MUSIC: Suspending Filing of Reports with SEC
---------------------------------------------------
Warner Music Group Corp. filed a Form 15 notifying of its
suspension of its duty under Section 15(d) to file reports
required by Section 13(a) of the Securities Exchange Act of 1934
with respect to its common stock.  Pursuant to Rule 12h-3,
the Company is suspending reporting because there is currently one
holder of record of the common shares as of Aug. 2, 2011.

                      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: Committee Objects to TPS Motion
--------------------------------------------------
BankruptcyData.com reports that Washington Mutual's official
committee of unsecured creditors filed with the U.S. Bankruptcy
Court an objection to the motion of the TPS consortium for
"submission for inclusion in the record."

According to BData, the objection asserts, "The place where the
misleading nature of the TPS Ex. 301-B is most clear is in the set
of columns on the far right side of the document, which purport to
show a scenario of the FJR at 0.16%. Here, the TPS Consortium
represents that the recoveries to the CCB and PIERS classes are
100% of their reduced claims. However, as shown in DX-375, in a
scenario of the FJR at 1.95%, after applying contractual
subordination, the PIERS recoveries drop to 36% of their pre-
petition claims and 0% of their post-petition claims. When asked
about the impact on CCB and PIERS recoveries with an assumed
change in rate to 0.25%, Mr. Goulding testified that they would be
badly affected. Goulding testimony, 7/14/2011 Tr. at 173:11-24.
With the FJR at 0.16%, the recoveries for these junior classes
would be even less. Indeed, if the TPS Consortium had offered a
witness for TPS Ex. 301-B, our cross-examination would have shown
that in this scenario the recoveries of the CCB class would be
entirely wiped out."

                    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.


WASHINGTON MUTUAL: Seeks OK for Pair of Securities Settlements
--------------------------------------------------------------
Ian Thoms at Bankruptcy Law360 reports that Washington Mutual Inc.
asked a Delaware bankruptcy judge on Tuesday for permission to ink
a pair of settlements resolving securities class actions brought
by Flaherty & Crumrine Preferred Income Fund Inc., Monterey County
Investment Pool and San Buenaventura, Calif.

If the deals are approved, Law360 notes, WMI will pay San
Buenaventura and Monterey County $4.25 million to resolve their
securities class action, according to a motion.  Flaherty &
Crumrine will get $4.2 million to drop its claims that WMI made
misleading statements in connection with securities offerings.

                     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.


WHITESTONE HOUSTON: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: Whitestone Houston Land, Ltd.
        13455 Noel Road, Suite 2300
        Dallas, TX 75240

Bankruptcy Case No.: 11-42400

Chapter 11 Petition Date: August 1, 2011

Court: U.S. Bankruptcy Court
       Eastern District of Texas (Sherman)

Debtor's Counsel: Joyce W. Lindauer, Esq.
                  8140 Walnut Hill Lane, Suite 301
                  Dallas, TX 75231
                  Tel: (972) 503-4033
                  Fax: (972) 503-4034
                  E-mail: courts@joycelindauer.com

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

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

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

The petition was signed by John Marlin of MA-BBO Five Holdings,
LLC, manager.

Affiliate that filed separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
MA BB Owen LP                         11-40645            02/28/11


WICHITA FALLS: Case Summary & 7 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Wichita Falls SSA Ltd.
        1335 Steeple Chase Lane
        Aledo, TX 76008

Bankruptcy Case No.: 11-44402

Chapter 11 Petition Date: August 1, 2011

Court: U.S. Bankruptcy Court
       Northern District of Texas (Ft. Worth)

Judge: D. Michael Lynn

Debtor's Counsel: Jeffrey R. Erler, Esq.
                  BELL NUNNALLY & MARTIN, LLP
                  3232 McKinney Avenue, Suite 1400
                  Dallas, TX 75204
                  Tel: (214) 740-1490
                  Fax: (214) 740-1499
                  E-mail: jeffe@bellnunnally.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 seven largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/txnb11-44402.pdf

The petition was signed by Kenneth Gilbert.


WINDSTREAM CORP: Fitch Says Ratings Unaffected by PAETEC Sale
-------------------------------------------------------------
Fitch Ratings believes Windstream Corporation's proposed
acquisition of PAETEC Holding Corp. (PAETEC) in a transaction
valued at approximately $2.3 billion will not affect its ratings.
Windstream's Issuer Default Rating (IDR) is 'BB+', and the Rating
Outlook is Stable.

Fitch believes the proposed acquisition is consistent with its
current rating rationale regarding Windstream, which incorporates
the diversification of revenues and cash flow through the
expansion of its business services revenue base. In addition,
Windstream is using a material proportion of equity to finance the
transaction, as it has with respect to other recent acquisitions,
thus minimizing the effect on its credit profile. Fitch estimates
that prior to synergies, the acquisition will increase leverage
approximately 0.1 times (x) upon closing.

PAETEC provides telecom services to business customers through a
100,000 route mile nationwide fiber optic network and the
operation of 20 data centers. The transaction complements
Windstream's acquisitions over the past two years in business
services, which have included providers of competitive local
exchange services, data hosting services and fiber optic transport
services. The transaction will be all-stock, consisting of
approximately $900 million of Windstream equity. PAETEC has
approximately $1.4 billion outstanding in net debt, including $650
million of senior secured notes and $750 million of senior
unsecured notes. Windstream will assume the notes, but to address
the potential change of control provisions in PAETEC's notes,
Windstream has obtained $1.1 billion in financing commitments
which, in combination with capacity on its revolving credit
facility, would enable Windstream to refinance the notes if
necessary. In connection with the transaction, Windstream is
seeking certain amendments to its credit facility, and if
obtained, the company would guarantee the PAETEC notes upon the
consummation of the transaction. The transaction is expected to
close in approximately six months.

Windstream's ratings incorporate expectations for the company to
generate strong operating and free cash flows and to have access
to ample liquidity. Fitch's principal concern is the effect of
competition for consumer voice services on the company's
operations, a factor being diminished by recent transactions.
There is some risk regarding the integration of the PAETEC
acquisition, but in Fitch's view the risk is likely to be modest,
owing to the company's experience with acquiring and incorporating
small- and medium-sized acquisitions.

PAETEC's EBITDA (pro forma for acquisitions) was approximately
$356 million over the last 12 months ended March 31, 2011.
Following the acquisition, Windstream expects to realize
approximately $100 million in annual synergies by the third year
of the transaction. Excluding the PAETEC acquisition, which may
not close until early 2012, Fitch estimates Windstream's 2011
leverage will approximate 3.4 times (x), at the upper end of the
company's 3.2x to 3.4x historical range. Fitch's prior
expectations for leverage in 2012 reflected a modest 0.2x decline
in leverage; excluding $50 million in operating integration costs,
Windstream's leverage in 2012 could still decline slightly.

On March 31, 2011, Windstream had $690 million available on its
$1.25 billion revolver (due December 2015) and $36 million of cash
on its balance sheet. In March 2011, the capacity of Windstream's
revolving credit facility was increased to $1.25 billion from $750
million. Principal financial covenants in Windstream's secured
credit facilities require a minimum interest coverage ratio of
2.75x and a maximum leverage ratio of 4.5x. There are limitations
on capital spending, and the dividend is limited to the sum of
excess free cash flow and net cash equity issuance proceeds
subject to pro forma leverage of 4.5x or less.

Maturities for the 12 month periods ending in March 31, 2012 and
2013 approximate $138 million and $44 million, respectively. In
Fitch's view, free cash flow will be sufficient to repay maturing
debt. Fitch expects free cash flow for Windstream to be in the
$350 million to $450 million range in 2011. Capital spending is
expected to rise in 2011 to a range of $520 million to $580
million from $415 million in 2010.


WINDSTREAM CORP: S&P Affirms 'BB-' CCR on PAETEC Acquisition
------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB-'corporate
credit rating and 'BB+' senior secured debt rating on Little Rock,
Ark.-based telecommunications service provider Windstream Corp.
The outlook is stable.

"At the same time, we placed Windstream's 'B+' senior unsecured
issue rating on CreditWatch with negative implications," S&P said.

These actions follow the company's announcement that it entered
into a definitive agreement to acquire Rochester, N.Y.-based
competitive local exchange carrier (CLEC) PAETEC Holding Corp. in
a stock-based transaction valued at $2.3 billion. "The CreditWatch
placement of the senior unsecured debt is based on our
expectations that the company plans to put in place an
unsecured downstream guarantee on PAETEC's debt," S&P related.

"We are also placing the ratings on PAETEC, including the 'B'
corporate credit rating, on CreditWatch with positive
implications. The 'B' issue-level rating on the company's $100
million senior secured term loan and $125 million revolver are not
on CreditWatch as we expect that debt will be repaid if the
transaction closes, most likely in the first quarter of 2012, due
to the change of control provision in the loan agreement," S&P
related.

As part of the transaction, PAETEC's shareholders will receive
0.460 shares of Windstream stock for each PAETEC share. Windstream
expects to issue about 73 million shares of stock valued at about
$891 million. The company plans refinance PAETEC's $100 million
term loan and to seek a change of control waiver for $1.4 billion
of PAETEC's senior secured and unsecured notes. However, it also
has a $1.1 billion bridge facility if it does not get the waiver.

"The ratings affirmation reflects our view that pro forma adjusted
leverage of about 3.9x is still supportive of an aggressive
financial risk profile," said Standard & Poor's credit analyst
Allyn Arden. "Leverage is only modestly higher than the 3.7x for
Windstream on a stand-alone basis although still in line with the
'BB' rating category. However, we now view the business risk
profile of the combined company as weak compared with our fair
business profile assessment prior to the announced transaction. As
a result, achievement of a higher rating would necessitate a more
significant improvement in leverage to around 3x."


WIRELESS STORE: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Wireless Store, LLC
        315 Peck Street
        New Haven, CT 06513

Bankruptcy Case No.: 11-22306

Chapter 11 Petition Date: August 1, 2011

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

Judge: Albert S. Dabrowski

Debtor's Counsel: Chris R. Nelson, Esq.
                  PARRETT PORTO PARESE & COLWELL PC
                  2319 Whitney Avenue Suite 1-D
                  Hamden, CT 06518
                  Tel: (203) 281-2700
                  Fax: (203) 281-0700
                  E-mail: cnelson@pppclaw.com

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

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ctb11-22306.pdf

The petition was signed by Joseph Kobylak, member.


WORLDSPAN MARINE: Chapter 15 Case Summary
-----------------------------------------
Chapter 15 Petitioner: John McEwon
                       Steven Barnett

Chapter 15 Debtor: Worldspan Marine Inc.
                   aka Crescent Custom Yachts Inc.
                       Queenship Marine Industries Ltd.
                       27222 Developments Ltd.
                       Composite FRP Products Ltd.
                       Boale Wood & Company Ltd.
                   27222 Lougheed Highway
                   Maple Ridge BC V2W 1M4
                   Outside U. S.
                   Canada

Chapter 15 Case No.: 11-19184

Type of Business: The Debtor provides yacht design and
                  construction services.

Chapter 15 Petition Date: August 1, 2011

Court: U.S. Bankruptcy Court
       Western District of Washington (Seattle)

Judge: Marc Barreca

Debtor's Counsel: Mary Jo Heston, Esq.
                  LANE POWELL PC
                  1420 5th Avenue, Suite 4100
                  Seattle, WA 98101
                  Tel: (206) 223-7000
                  E-mail: hestonm@lanepowell.com

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.


* Guggenheim Venture Partners Spins Out as Alara Capital
--------------------------------------------------------
Dow Jones' DBR Small Cap reports that Guggenheim Venture Partners
said it has spun out of financial services firm Guggenheim
Partners LLC as an independent investor focused on distressed
venture opportunities called Alara Capital.


* Personal Bankruptcy Filings Decline by More Than 5% in July
-------------------------------------------------------------
Dow Jones' DBR Small Cap reports that consumer bankruptcies
declined 5% in July, from a month earlier, the latest in a series
of signs that the worst of the bankruptcy-filing boom has passed.


* S&P Gives 'BBpi' Counterparty Credit Ratings on 6 Insurers
------------------------------------------------------------
Standard & Poor's Ratings Services assigned counterparty credit
and financial strength ratings bearing a 'pi' subscript to 14 U.S.
property/casualty insurers. At the same time, Standard & Poor's
took various rating actions on 110 U.S. property/casualty insurers
with ratings bearing a 'pi' subscript, based on statutory
financial data for the year ending Dec. 31, 2010.

Standard & Poor's North American Insurance Ratings has realigned
its coverage of property/casualty insurers in the U.S. with
ratings bearing the 'pi' subscript. "The goal of this realignment
is to enhance the value of these ratings to the marketplace by
adding coverage on several larger insurance groups not currently
covered and for which we believe there is market interest in a
rating, while reducing the coverage of smaller companies," S&P
related.

"We will maintain 'pi' ratings on U.S.-based property/casualty
insurance groups with at least $500 million in net earned premiums
(NEP) in 2010 that we do not rate interactively. Therefore, we
have assigned ratings bearing the 'pi' subscript to 10 groups (14
legal entities) that were previously unrated but meet this
threshold. In addition, we took various rating actions and
subsequently withdrew ratings on 59 groups (110 rated legal
entities) that do not reach this scale," S&P said.

Including interactively rated companies, Standard & Poor's rates
insurers covering approximately 90% of the U.S. property/casualty
insurance market (based on NEP) and 95% of the U.S. life insurance
market (based on total assets). "Continuing our existing practice,
we will not assign ratings with a 'pi' subscript to U.S.
subsidiaries or affiliates of interactively rated insurers,
regardless of company size," S&P said.

"Of the 14 companies to which we assigned new ratings, three are
rated 'Api'; five are rated 'BBBpi'; and six are rated 'BBpi',"
S&P related.

Standard & Poor's affirmed its ratings on 97 companies, raised its
ratings on 11 companies, and lowered its ratings on two companies,
all of which were subsequently withdrawn because their premium
volumes fall below the scale threshold. Of these, 9% had been
rated 'Api'; 59% 'BBBpi'; 26% 'BBpi'; 2% 'Bpi'; and 4% 'CCCpi'.

Unsolicited ratings are credit ratings assigned at the initiative
of Standard & Poor's and not at the request of the issuer or its
agents. Ratings with a 'pi' subscript are based on an analysis of
an insurer's published financial information and additional
information in the public domain. They do not reflect in-depth
meetings with an insurer's management and are therefore based
on less-comprehensive information than ratings without a 'pi'
subscript. Ratings with a 'pi' subscript are typically reviewed
annually based on the most recently available financial statements
but might be reviewed on an interim basis if a major event occurs
that could affect the insurer's financial security. These ratings
are not subject to potential CreditWatch listings, and they
generally are not modified with "plus" or "minus" designations.

Ratings List

New Rating

Alfa Mutual Insurance Co. (Unsolicited Ratings)
Alfa Mutual Fire Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBpi
Financial Strength Rating
  Local Currency                        BBpi

New Rating

Amica Mutual Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        Api
Financial Strength Rating
  Local Currency                        Api

New Rating

Central Mutual Insurance Co. (Unsolicited Ratings)
All America Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBpi
Financial Strength Rating
  Local Currency                        BBpi

New Rating

American Family Mutual Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

New Rating

Arbella Mutual Insurance Co. (Unsolicited Ratings)
Arbella Protection Insurance Co. Inc. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

New Rating

Farm Bureau Property & Casualty Insurance Co. (Unsolicited
Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

New Rating

NGM Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        Api
Financial Strength Rating
  Local Currency                        Api

New Rating

North Carolina Farm Bureau Mutual Insurance Co. (Unsolicited
Ratings)
Counterparty Credit Rating
  Local Currency                        Api
Financial Strength Rating
  Local Currency                        Api

New Rating

Palisades Safety & Insurance Assoc. (Unsolicited Ratings)
High Point Preferred Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBpi
Financial Strength Rating
  Local Currency                        BBpi

New Rating

West Bend Mutual Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Ratings Affirmed

American Agricultural Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
American Agricultural Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

American Interstate Ins Co. of TX (Unsolicited Ratings)
Silver Oak Casualty Inc. (Unsolicited Ratings)
American Interstate Insurance Co. of GA (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        Api
Financial Strength Rating
  Local Currency                        Api

Withdrawn
                                        To                 From
American Interstate Ins Co. of TX (Unsolicited Ratings)
Silver Oak Casualty Inc. (Unsolicited Ratings)
American Interstate Insurance Co. of GA (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 Api
Financial Strength Rating
  Local Currency                        NR                 Api

Upgraded
                                        To                 From
American Safety Casualty Insurance Co. (Unsolicited Ratings)
American Safety Indemnity Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBpi               Bpi
Financial Strength Rating
  Local Currency                        BBpi               Bpi

Withdrawn
                                        To                 From
American Safety Casualty Insurance Co. (Unsolicited Ratings)
American Safety Indemnity Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBpi
Financial Strength Rating
  Local Currency                        NR                 BBpi

Ratings Affirmed

American Safety RRG Inc. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        Bpi
Financial Strength Rating
  Local Currency                        Bpi

Withdrawn
                                        To                 From
American Safety RRG Inc. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 Bpi
Financial Strength Rating
  Local Currency                        NR                 Bpi

Upgraded
                                        To                 From
American Transit Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        Bpi                CCCpi
Financial Strength Rating
  Local Currency                        Bpi                CCCpi

Withdrawn
                                        To                 From
American Transit Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 Bpi
Financial Strength Rating
  Local Currency                        NR                 Bpi

Ratings Affirmed

Amerisure Insurance Co. (Unsolicited Ratings)
Amerisure Mutual Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
Amerisure Insurance Co. (Unsolicited Ratings)
Amerisure Mutual Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

AmGUARD Insurance Co. (Unsolicited Ratings)
NorGUARD Insurance Co. (Unsolicited Ratings)
EastGUARD Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
AmGUARD Insurance Co. (Unsolicited Ratings)
NorGUARD Insurance Co. (Unsolicited Ratings)
EastGUARD Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

California Capital Insurance Co. (Unsolicited Ratings)
Monterey Insurance Co. (Unsolicited Ratings)
Eagle West Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        Api
Financial Strength Rating
  Local Currency                        Api

Withdrawn
                                        To                 From
California Capital Insurance Co. (Unsolicited Ratings)
Monterey Insurance Co. (Unsolicited Ratings)
Eagle West Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 Api
Financial Strength Rating
  Local Currency                        NR                 Api

Upgraded
                                        To                 From
California Casualty Indemnity Exchange (Unsolicited Ratings)
California Casualty Insurance Co. (Unsolicited Ratings)
California Casualty General Insurance Co. (Unsolicited Ratings)
California Casualty Compensation Insurance (Unsolicited Ratings)
California Casualty & Fire Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi              BBpi
Financial Strength Rating
  Local Currency                        BBBpi              BBpi

Withdrawn
                                        To                 From
California Casualty Indemnity Exchange (Unsolicited Ratings)
California Casualty Insurance Co. (Unsolicited Ratings)
California Casualty General Insurance Co. (Unsolicited Ratings)
California Casualty Compensation Insurance (Unsolicited Ratings)
California Casualty & Fire Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Downgraded
                                        To                 From
Canal Insurance Co. (Unsolicited Ratings)
Canal Indemnity Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBpi               BBBpi
Financial Strength Rating
  Local Currency                        BBpi               BBBpi

Withdrawn
                                        To                 From
Canal Insurance Co. (Unsolicited Ratings)
Canal Indemnity Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBpi
Financial Strength Rating
  Local Currency                        NR                 BBpi

Ratings Affirmed

Celina Mutual Insurance Co.  (Unsolicited Ratings)
West Virginia Farmers Mutual Insurance Assoc. (Unsolicited
Ratings)
National Mutual Insurance Co.  (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBpi
Financial Strength Rating
  Local Currency                        BBpi

Withdrawn
                                        To                 From
Celina Mutual Insurance Co.  (Unsolicited Ratings)
West Virginia Farmers Mutual Insurance Assoc. (Unsolicited
Ratings)
National Mutual Insurance Co.  (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBpi
Financial Strength Rating
  Local Currency                        NR                 BBpi

Ratings Affirmed

Church Mutual Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
Church Mutual Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

Connecticut Medical Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn

Connecticut Medical Insurance Co. (Unsolicited Ratings)
                                        To                 From
Counterparty
Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

Continental Heritage Insurance Co. (Unsolicited Ratings)
Evergreen National Indemnity Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
Continental Heritage Insurance Co. (Unsolicited Ratings)
Evergreen National Indemnity Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

Copic Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
Copic Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

Crusader Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBpi
Financial Strength Rating
  Local Currency                        BBpi

Withdrawn
                                        To                 From
Crusader Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBpi
Financial Strength Rating
  Local Currency                        NR                 BBpi

Ratings Affirmed

Cumberland Mutual Fire Insurance Co. (Unsolicited Ratings)
Cumberland Insurance Co. Inc. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBpi
Financial Strength Rating
  Local Currency                        BBpi

Withdrawn
                                        To                 From
Cumberland Mutual Fire Insurance Co. (Unsolicited Ratings)
Cumberland Insurance Co. Inc. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBpi
Financial Strength Rating
  Local Currency                        NR                 BBpi

Ratings Affirmed

Danielson National Insurance Co. (Unsolicited Ratings)
National American Insurance Co. of CA (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        CCCpi
Financial Strength Rating
  Local Currency                        CCCpi

Withdrawn
                                        To                 From
Danielson National Insurance Co. (Unsolicited Ratings)
National American Insurance Co. of CA (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 CCCpi
Financial Strength Rating
  Local Currency                        NR                 CCCpi

Ratings Affirmed

Dentists Insurance Co.  (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
Dentists Insurance Co.  (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

Developers Surety & Indemnity Co. (Unsolicited Ratings)
Indemnity Co. of CA (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
Developers Surety & Indemnity Co. (Unsolicited Ratings)
Indemnity Co. of CA (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

Donegal Mutual Insurance Co. (Unsolicited Ratings)
Southern Insurance Co. of VA (Unsolicited Ratings)
Atlantic States Insurance Co. (PA) (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
Donegal Mutual Insurance Co. (Unsolicited Ratings)
Southern Insurance Co. of VA (Unsolicited Ratings)
Atlantic States Insurance Co. (PA) (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

Employers Preferred Ins Co (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBpi
Financial Strength Rating
  Local Currency                        BBpi

Withdrawn
                                        To                 From
Employers Preferred Ins Co (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBpi
Financial Strength Rating
  Local Currency                        NR                 BBpi

Ratings Affirmed

Farmers Automobile Insurance Assoc. (Unsolicited Ratings)
Pekin Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
Farmers Automobile Insurance Assoc. (Unsolicited Ratings)
Pekin Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

Federated National Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        CCCpi
Financial Strength Rating
  Local Currency                        CCCpi

Withdrawn
                                        To                 From
Federated National Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 CCCpi
Financial Strength Rating
  Local Currency                        NR                 CCCpi

Ratings Affirmed

Federated Rural Electric Insurance Exchange (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        Api
Financial Strength Rating
  Local Currency                        Api

Withdrawn
                                        To                 From
Federated Rural Electric Insurance Exchange (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 Api
Financial Strength Rating
  Local Currency                        NR                 Api

Ratings Affirmed

Farm Bureau Mutual Insurance Co. of ID (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        Api
Financial Strength Rating
  Local Currency                        Api

Withdrawn
                                        To                 From
Farm Bureau Mutual Insurance Co. of ID (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 Api
Financial Strength Rating
  Local Currency                        NR                 Api

Ratings Affirmed

Farm Bureau Mutual Insurance Co. of MI (Unsolicited Ratings)
Farm Bureau General Insurance Co. of MI (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBpi
Financial Strength Rating
  Local Currency                        BBpi

Withdrawn
                                        To                 From
Farm Bureau Mutual Insurance Co. of MI (Unsolicited Ratings)
Farm Bureau General Insurance Co. of MI (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBpi
Financial Strength Rating
  Local Currency                        NR                 BBpi

Ratings Affirmed

Farmers Alliance Mutual Insurance Co. (Unsolicited Ratings)
Alliance Insurance Co. Inc. (Unsolicited Ratings)
Alliance Indemnity Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBpi
Financial Strength Rating
  Local Currency                        BBpi

Withdrawn
                                        To                 From
Farmers Alliance Mutual Insurance Co. (Unsolicited Ratings)
Alliance Insurance Co. Inc. (Unsolicited Ratings)
Alliance Indemnity Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBpi
Financial Strength Rating
  Local Currency                        NR                 BBpi

Ratings Affirmed

Farmers Mutual Hail Insurance Co. of Iowa (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
Farmers Mutual Hail Insurance Co. of Iowa (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

First Financial Insurance Co. (Unsolicited Ratings)
Guilford Insurance Co. (Unsolicited Ratings)
Burlington Insurance Co. (Unsolicited Ratings)
Alamance Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
First Financial Insurance Co. (Unsolicited Ratings)
Guilford Insurance Co. (Unsolicited Ratings)
Burlington Insurance Co. (Unsolicited Ratings)
Alamance Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

First Professionals Insurance Co. (Unsolicited Ratings)
Intermed Insurance Co. (Unsolicited Ratings)
Interlex Insurance Co. (Unsolicited Ratings)
Anesthesiologists' Professional Assurance Co. (Unsolicited
Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
First Professionals Insurance Co. (Unsolicited Ratings)
Intermed Insurance Co. (Unsolicited Ratings)
Interlex Insurance Co. (Unsolicited Ratings)
Anesthesiologists' Professional Assurance Co. (Unsolicited
Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

Frankenmuth Mutual Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        Api
Financial Strength Rating
  Local Currency                        Api

Withdrawn
                                        To                 From
Frankenmuth Mutual Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 Api
Financial Strength Rating
  Local Currency                        NR                 Api

Ratings Affirmed

Germania Farm Mutual Insurance Assoc. (Unsolicited Ratings)
Germania Insurance Co. (Unsolicited Ratings)
Germania Fire & Casualty Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBpi
Financial Strength Rating
  Local Currency                        BBpi

Withdrawn
                                        To                 From
Germania Farm Mutual Insurance Assoc. (Unsolicited Ratings)
Germania Insurance Co. (Unsolicited Ratings)
Germania Fire & Casualty Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBpi
Financial Strength Rating
  Local Currency                        NR                 BBpi

Ratings Affirmed

GuideOne Mutual Insurance Co. (Unsolicited Ratings)
GuideOne Specialty Mutual Insurance Co. (Unsolicited Ratings)
GuideOne Property & Casualty Insurance Co. (Unsolicited Ratings)
GuideOne Lloyds Insurance Co. (Unsolicited Ratings)
GuideOne Elite Insurance Co. (Unsolicited Ratings)
GuideOne America Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
GuideOne Mutual Insurance Co. (Unsolicited Ratings)
GuideOne Specialty Mutual Insurance Co. (Unsolicited Ratings)
GuideOne Property & Casualty Insurance Co. (Unsolicited Ratings)
GuideOne Lloyds Insurance Co. (Unsolicited Ratings)
GuideOne Elite Insurance Co. (Unsolicited Ratings)
GuideOne America Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

Hospitals Insurance Co. Inc (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        CCCpi
Financial Strength Rating
  Local Currency                        CCCpi

Withdrawn
                                        To                 From
Hospitals Insurance Co. Inc (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 CCCpi
Financial Strength Rating
  Local Currency                        NR                 CCCpi

Ratings Affirmed
Jewelers Mutual Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
Jewelers Mutual Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

Lancer Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
Lancer Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

Lawyers Mutual Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
Lawyers Mutual Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

Louisiana Farm Bureau Mutual Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBpi
Financial Strength Rating
  Local Currency                        BBpi

Withdrawn
                                        To                 From
Louisiana Farm Bureau Mutual Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBpi
Financial Strength Rating
  Local Currency                        NR                 BBpi

Ratings Affirmed

Louisiana Workers Compensation Corp. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
Louisiana Workers Compensation Corp. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

Lumbermens Underwriting Alliance (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBpi
Financial Strength Rating
  Local Currency                        BBpi

Withdrawn
                                        To                 From
Lumbermens Underwriting Alliance (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBpi
Financial Strength Rating
  Local Currency                        NR                 BBpi

Ratings Affirmed

MAG Mutual Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
MAG Mutual Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

Maine Employers Mutual Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
Maine Employers Mutual Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

Medical Insurance Exchange of California (Unsolicited Ratings)
Claremont Liability Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBpi
Financial Strength Rating
  Local Currency                        BBpi

Withdrawn
                                        To                 From
Medical Insurance Exchange of California (Unsolicited Ratings)
Claremont Liability Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBpi
Financial Strength Rating
  Local Currency                        NR                 BBpi

Ratings Affirmed

Medical Professional Mutual Insurance Co. (Unsolicited Ratings)
ProSelect Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
Medical Professional Mutual Insurance Co. (Unsolicited Ratings)
ProSelect Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

Michigan Millers Mutual Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBpi
Financial Strength Rating
  Local Currency                        BBpi

Withdrawn
                                        To                 From
Michigan Millers Mutual Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBpi
Financial Strength Rating
  Local Currency                        NR                 BBpi

Ratings Affirmed

MMIC Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
MMIC Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

Mutual Insurance Co. of AZ (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
Mutual Insurance Co. of AZ (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

National Trust Insurance Co. (Unsolicited Ratings)
FCCI Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
National Trust Insurance Co. (Unsolicited Ratings)
FCCI Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

New York Central Mutual Fire Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
New York Central Mutual Fire Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

New York Marine & General Insurance Co. (Unsolicited Ratings)
Gotham Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
New York Marine & General Insurance Co. (Unsolicited Ratings)
Gotham Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

Partners Mutual Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBpi
Financial Strength Rating
  Local Currency                        BBpi

Withdrawn
                                        To                 From
Partners Mutual Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBpi
Financial Strength Rating
  Local Currency                        NR                 BBpi

Ratings Affirmed

Peachtree Casualty Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBpi
Financial Strength Rating
  Local Currency                        BBpi

Withdrawn
                                        To                 From
Peachtree Casualty Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBpi
Financial Strength Rating
  Local Currency                        NR                 BBpi

Ratings Affirmed

Physicians Insurance A Mutual Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
Physicians Insurance A Mutual Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

Pmslic Insurance Co. (Unsolicited Ratings)
Norcal Mutual Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
Pmslic Insurance Co. (Unsolicited Ratings)
Norcal Mutual Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

State Volunteer Mutual Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
State Volunteer Mutual Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Upgraded
                                        To                 From
Ulico Casualty Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBpi               Bpi
Financial Strength Rating
  Local Currency                        BBpi               Bpi

Withdrawn
                                        To                 From
Ulico Casualty Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBpi
Financial Strength Rating
  Local Currency                        NR                 BBpi

Ratings Affirmed

United Educators Insurance RRG Inc. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
United Educators Insurance RRG Inc. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

United National Insurance Co. (Unsolicited Ratings)
United National Specialty Insurance Co. (Unsolicited Ratings)
United National Casualty Insurance Co. (Unsolicited Ratings)
Penn-Star Insurance Co. (Unsolicited Ratings)
Penn-America Insurance Co. (Unsolicited Ratings)
Diamond State Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBBpi
Financial Strength Rating
  Local Currency                        BBBpi

Withdrawn
                                        To                 From
United National Insurance Co. (Unsolicited Ratings)
United National Specialty Insurance Co. (Unsolicited Ratings)
United National Casualty Insurance Co. (Unsolicited Ratings)
Penn-Star Insurance Co. (Unsolicited Ratings)
Penn-America Insurance Co. (Unsolicited Ratings)
Diamond State Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBBpi
Financial Strength Rating
  Local Currency                        NR                 BBBpi

Ratings Affirmed

Western Community Insurance Co. (Unsolicited Ratings)
Financial Strength Rating
  Local Currency                        Api

Withdrawn
                                        To                 From
Western Community Insurance Co. (Unsolicited Ratings)
Financial Strength Rating
  Local Currency                        NR                 Api

Upgraded
                                        To                 From
Western Home Insurance Co. (Unsolicited Ratings)
Pioneer Specialty Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        BBpi               Bpi
Financial Strength Rating
  Local Currency                        BBpi               Bpi

Withdrawn
                                        To                 From
Western Home Insurance Co. (Unsolicited Ratings)
Pioneer Specialty Insurance Co. (Unsolicited Ratings)
Counterparty Credit Rating
  Local Currency                        NR                 BBpi
Financial Strength Rating
  Local Currency                        NR                 BBpi

This unsolicited rating(s) was initiated by Standard & Poor's. It
may be based solely on publicly available information and may or
may not involve the participation of the issuer. Standard & Poor's
has used information from sources believed to be reliable based on
standards established in S&P's Credit Ratings Information and Data
Policy but does not guarantee the accuracy, adequacy, or
completeness of any information used.


* Conway MacKenzie Garners Three Industry Awards
------------------------------------------------
Conway MacKenzie, a consulting firm specializing in turnaround and
crisis management, transaction advisory, litigation support and
valuation and forensic analysis services, is the proud recipient
of three industry awards.  The Firm has also been recognized as a
top workplace in Atlanta and Chicago.

"Conway MacKenzie is committed to providing superior results to
clients.  To be recognized with these awards is a great honor and
a testament to the commitment of the employees of the Firm who go
above and beyond on each engagement," said Van Conway, Chief
Executive Officer of Conway MacKenzie.

The Firm has been recognized with the following awards:

Turnaround Firm of the Year, The M&A Advisor: This award is given
based on many factors including the Firm's performance on behalf
of clients, as well as general attributes that differentiate
Conway MacKenzie from other restructuring companies.  Successful
engagements that led to Conway MacKenzie being chosen as the
"Turnaround Firm of the Year" included Greektown Casino-Hotel,
Finger Furniture, Neenah Enterprises and J.T. Packard.
Additionally, Conway MacKenzie expanded its staff and geographical
presence with the launch of a Los Angeles office and several
strategic additions to the Firm's other seven domestic offices.

Turnaround of the Year ($100 Million+) for DavCo Restaurants,
Inc., The Global M&A Network: Conway MacKenzie led DavCo, one of
the world's largest franchisees of Wendy's restaurants, through
its operational restructuring and refinancing.

Middle Market Turnaround Consulting Firm of the Year, The Global
M&A Network: The Firm was selected as the "Middle Market
Turnaround Consulting Firm of the Year" due to its role in the
restructuring of Neenah Enterprises, a $300 Million producer of
foundry and forging products, as well as for its advisory and
interim management role in the sale of J.T. Packard, a provider of
preventative maintenance and emergency services for
uninterruptable power supply equipment.

101 Best and Brightest Companies to Work For, Atlanta and Chicago,
National Association for Business Resources: Conway MacKenzie's
commitment to providing and supporting a superior work culture and
environment in each of its offices was recognized by the National
Association for Business Resources for its performance across
several key areas, including but not limited to: communication,
community initiatives, compensation and benefits, diversity and
multiculturalism, recognition and retention, recruitment and
selection and work-life balance.

Conway MacKenzie, Inc. -- http://www.ConwayMacKenzie.com-- is an
international consulting firm specializing in turnaround and
crisis management, transaction advisory, litigation support, and
valuation and forensic advisory services.  The firm is
headquartered in Detroit, Michigan and has offices in Houston,
Dallas, Atlanta, Chicago, Dayton, Frankfurt, London, Los Angeles
and New York.


* BOOK REVIEW: Fraudulent Conveyances
-------------------------------------
Author: Orlando F. Bump
Publisher: Beard Books, Washington, D.C. 2000 (reprint of book
first published in 1872 by Orlando F. Bump). 657 pages.
Price: $34.95 trade paper, ISBN 1-893122-78-6.

The book is a legal classic for adding American law on fraudulent
conveyances up to the 1870s when it first appeared to English law
going back much further; which in turn grew out of Roman law.
Bump's first chapter on the history of such law will be of
interest to readers looking for this perspective; though the large
bulk of the content is a meticulous, lawyerly organization and
expounding of the many facets of the law on fraudulent conveyances
as this has formed over centuries.

As Bump notes, this area of law has a larger number of "opposing
authorities...than can be found in any other branch of the law."
In order to keep the treatment as simple as possible while still
being true to its many facets and opposing authorities and
relevant to legal practice of readers for whom it is intended, the
author takes fraudulent conveyances as a part of common law. "This
work simply considers the subject as it was at common law with the
remedies afforded by the common law." Bump's treatment thus does
not go into criminal law or law with reference to statutes. Though
statutes regarding fraudulent conveyances have been passed in each
state, these statutes have basically copied Elizabethan Anglo-
Saxon law and have "always been considered as merely declaratory
of the common law." Since there is thus no wide or radical
difference between common law and state statutes concerning
fraudulent conveyance, nearly all of Bump's work bears as well on
law associated with the statutes. He brings this up in the work's
Preface so readers will understand the framework by which he
treats the subject. In the regular text, Bump does not take up
state fraudulent conveyance statutes except where ones vary from
the common law "to warn the practitioner [reader] that the text is
not applicable to his particular State." The author does not
however discuss grounds for this variance between a state's
statutes and common law.

Bump begins the voluminous study with definitions at the
foundation of fraudulent conveyance. Fraudulent conveyances are
all transfers made "to the end, purpose, and intent to delay,
hinder, or defraud creditors." Whether a conveyance to a creditor
is fraudulent is determined by the three "points" (as the author
calls them) of intent, the consideration, and the bona fides of
the transfer. Consideration generally refers to the right of the
debtor to use certain property or other assets to settle a debt.
Bona fide means that the debtor was not given the property, loan,
etc., fraudulently by the creditor.

From the basics of the definitions, Bump moves on to the many
facets of this area of law dealing with circumstances in all types
of human relationships. Not only business dealings, but
transactions establishing a debtor-creditor relationship between
members of a family, neighbors, governments, and just about any
two legally recognized parties are covered by the law of
fraudulent conveyances. Subsequent creditors, ambiguous contracts,
and determining the value of property to pay debts are all factors
bringing complications to such law which Bump systematically takes
up.

Though the book was written in the mid latter 1800s, since the
basics of the law of fraudulent conveyances have not changed much
since then--or from when such law was formulated for that matter--
Bump's work remains relevant and educating for anyone from lawyers
to businesspersons to lay persons interested in the topic. A
detailed index running close to 50 pages takes readers to specific
topics of this involved legal subject.


                           *********

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.


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