TCR_Public/110811.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

            Thursday, August 11, 2011, Vol. 15, No. 221

                            Headlines

3 S&L: Voluntary Chapter 11 Case Summary
4TH & 9TH: Case Summary & 2 Largest Unsecured Creditors
785 PARTNERS: Sec. 341 Creditors Meeting Set for Sept. 12
785 PARTNERS: Initial Case Conference Scheduled for Sept. 20
785 PARTNERS: Lender Wants Receiver to Continue Property Upkeep

ACADEMIA SAGRADO: Case Summary & 20 Largest Unsecured Creditors
ANGEL ACQUISITION: Changes Name to BioGeron Inc
ARCADE PUBLISHING: Author Not Entitled to Pre-Judgment Interest
ARCH ALUMINUM: Trustee Has $370T from Settlement of Preferences
ARNOLD DORMER: Files for Chapter 11 Bankruptcy Protection

ASSOCIATED GROCERS: Camden Buys Property for $5 Million
BAKERS FOOTWEAR: Reports $44.3-Mil. of Net Sales in 2nd Quarter
BERNARD L MADOFF: Trustee Can't Pursue Bank Austria Claims
BESO LLC: Landry's to Offer $1 Million for Restaurant
BILL JOHNSON'S: Big Apple Restaurants to Remain Open in Chapter 11

BLUEKNIGHT ENERGY: Files Form 10-Q, Incurs $5.3MM Net Loss in Q2
BORDERS GROUP: Streambank to Manage Intellectual Property Sale
BRADFORD BROWN: Dist. Ct. Tosses Brother's Appeal Over IRS Accord
BRETAGNE, LLC: Case Summary & 20 Largest Unsecured Creditors
CATALYST PAPER: Files Form 6-K, Incurs C$47.7-Mil. Net Loss in Q2

CENTRAL FALLS: Bankruptcy Filing Allows Trustee to Rewrite Deals
CHRISTIAN BROTHERS: Court Okays Bansley & Keiner as Accountant
CHRISTIAN BROTHERS: Wants Plan Filing Exclusivity Until Dec. 24
CLEARWIRE CORP: Files Form 10-Q; Incurs $168.7MM Net Loss in 2Q
COLONIAL PROPERTIES: Fitch Affirms Issue Default Rating at 'BB+'

COLONIAL REALTY: Fitch Affirms 'BB+' Rating on Unsec. Facilities
COMPOSITE TECHNOLOGY: Adds Two Members to Creditors Committee
CORNERSTONE BANCSHARES: Reports $141,287 Net Income in Q2
CORPORATE INVESTMENT: Voluntary Chapter 11 Case Summary
CUMULUS MEDIA: Completes Purchase of Remaining Interests in CMP

CRYSTAL CATHEDRAL: Committee Files Sale-Based Exit Plan
DAL-JONES INVESTMENTS: Case Summary & Creditors List
DANIEL L. HENDON: Case Summary & 2 Largest Unsecured Creditors
DELTA AIR: Awaiting IRS's Guidance on Tax Refunds
DELTA AIR: Welcomes US Air Flying Rights Transfer Approval

DELTA AIR: Former Atlanta Mayor Named to Board
E-DEBIT GLOBAL: Commences Review of Mobile Payments Marketplace
EAGLE BULK: Posts $1.4 Million Net Loss in 2nd Quarter
EMERALD COAST: Case Summary & 3 Largest Unsecured Creditors
EVERGREEN PLAZA: Awaits Order to Use Cash Collateral for 3rd Qtr

EVERGREEN PLAZA: Has Go-Signal to Hire Bankruptcy Counsel
EXIDE TECHNOLOGIES: Files 1st Quarter 2011 Summary Report
EXIDE TECHNOLOGIES: Wants Until Oct. 31 to Object to Claims
EXIDE TECHNOLOGIES: Has Settlement With SAPP Battery
FANNIE MAE: Incurs $2.89 Billion Net Loss in Second Quarter

FIDELITY NATIONAL: Fitch Affirms 'BB+' Rating on $1-Bil. Facility
FLORIDA EXTRUDERS: Chapter 11 Plan Declared Effective
FNB UNITED: Inks Subscription Pacts with Additional Investors
FOUNDATIONS MONTESSORI: Voluntary Chapter 11 Case Summary
FRONTGATE DEVELOPMENT: Case Summary & Creditors List

GCEP - GOODYEAR: Case Summary & 20 Largest Unsecured Creditors
GETTY PETROLEUM: Defaults on Rental Payments to Getty Realty
GLOBAL CROSSING: Files Form 10-Q, Incurs $34-Mil. Net Loss in Q2
GRAND ISLAND: Case Summary & 20 Largest Unsecured Creditors
HALO WIRELESS: Voluntary Chapter 11 Case Summary

HARRY & DAVID: Creditors Push for Plan Confirmation
HCA HOLDINGS: Reports $320 Million Net Income in June 30 Quarter
HERITAGE CONSOLIDATED: Court OKs Hiring of 3 Law Firms
HIMES PROPERTIES: Case Summary & 7 Largest Unsecured Creditors
HIS, II: Case Summary & 20 Largest Unsecured Creditors

INTELSAT SA: Incurs $214.4 Million Net Loss in Second Quarter
IOWA HOTEL: Case Summary & 20 Largest Unsecured Creditors
JACKSON HEWITT: Stay Lifted in Firm, H&R Block False Ad Row
JAMESTOWN MALL: Voluntary Chapter 11 Case Summary
JCK HOTELS: U.S. Trustee Forms 3-Member Creditors Committee

JEFFERSON, ALA: Won't Extend Standstill Agreement With Creditors
KBJ LOGGING: Case Summary & 20 Largest Unsecured Creditors
KT SPEARS: Court Approves McCarthy Law as Substitute Counsel
KV PHARMACEUTICAL: Partner Fund Owns 1.25MM of Class A Shares
LAPAHANA LLC: Case Summary & 2 Largest Unsecured Creditors

LAVATEC INC: Goudkuil Buys Business Out of Chapter 11
LEE ENTERPRISES: Incurs $155.4 Million Net Loss in June 30 Qtr.
LEHMAN BROTHERS: BNP Paribas Supports Plan Disclosures
LEHMAN BROTHERS: Barclays Again Seeks Dismissal of $500MM Suit
LEHMAN BROTHERS: Appeals 2008 Order Due to Barclays Windfall

LEHMAN BROTHERS: Brokerage Wants Payback to Start Soon
LEHMAN BROTHERS: Proposes to Create 2 Credit-Worthy Guarantors
LEVELLAND/HOCKLEY: Court OKs Block & Garden as Bankruptcy Counsel
LIBBEY INC: Reports $15.4 Million Net Income in Second Quarter
LIBBEY INC: Registers 1.46MM Common Shares Under Incentive Plan

LIONEL YOW: Files for Chapter 11 Bankruptcy Protection
LODGENET INTERACTIVE: Files Form 10-Q; Incurs $2.9-Mil. Q2 Loss
LOS ANGELES DODGERS: Committee to Hire Morrison as Counsel
LOTHIAN OIL: Re-characterization of Claim Not Limited to Insiders
LYMAN LUMBER: U.S. Trustee Names 5 Members to Creditors Panel

LYMAN LUMBER: Sec. 341 Creditors' Meeting Set for Sept. 9
LYMAN LUMBER: Can Use Up to $9MM of Lenders' Cash Through Aug. 26
LYMAN LUMBER: Asks Court to Approve Fredrikson & Byron Hiring
MACCO PROPERTIES: NBC to Take Over Oklahoma and Texas Assets
MACCO PROPERTIES: Trustee May Use Settlement Funds to Pay Expenses

MACCO PROPERTIES: Court Denies Adeq. Protection Payment to Price
MACCO PROPERTIES: To Pay $400,000 as Settlement for Dispute
MACCO PROPERTIES: Redmond & Nazar OK'd to Handle Parkwood Suit
MARCO POLO: Seeks Extra Funding to Protect Tanker Ships
NEBRASKA BOOK: U.S. Appoints 2 Members to Creditor's Panel

NELSON & ASSOCIATES: Case Summary & 20 Largest Unsecured Creditors
NEONODE INC: Incurs $2.7 Million Net Loss in Second Quarter
NEW ERA HOSPITALITY: Sec. 341 Creditors' Meeting Set for Sept. 20
NGPL PIPECO: Fitch Affirms 'BB+' Rating on Sr. Unsecured Debt
OMNICOMM SYSTEMS: Posts $997,312 Net Loss in Second Quarter

ORAGENICS INC: Posts $2.4-Mil. Net Loss in Second Quarter
OUR FAMILY: Case Summary & 2 Largest Unsecured Creditors
PALM HARBOR: Plan Promises Up to 21% Recovery for Unsecureds
PLATINUM PROPERTIES: Wants Forbearance Deal with BofA Amended
POINT BLANK: Ex-Chief to Plead to Tax Charges, Lawyer Says

QUANTUM FUEL: Amends Form S-3 Registration Statement
QUINCY MEDICAL: Says Patient Care Ombudsman Appointment Not Needed
QUINCY MEDICAL: Wants to Auction Substantially All Assets
RADIOSHACK: Fitch Affirms 'BB' Rating on Senior Notes
RAY GUY: Ex-Raider Auctions Super Bowl Rings for $96,216

REGENERX BIOPHARMA: Posts $1.5 Million Net Loss in Q2 2011
RTJJ, INC.: Case Summary & 20 Largest Unsecured Creditors
RVTC LP: Court Approves Integra Realty as Real Property Appraiser
RYLAND GROUP: Files Form 10-Q; Incurs $10.7-Mil. Net Loss in Q2
SBARRO INC: Files Joint Plan of Reorganization

SCHOMAC GROUP: Files for Chapter 11 in Tucson, Arizona
SCI REAL ESTATE: Has Until Sept. 12 to File Chapter 11 Plan
SCHOMAC GROUP: Case Summary & 20 Largest Unsecured Creditors
SEARCHMEDIA HOLDINGS: Annual Meeting Set for Sept. 13
SEHANA CORPORATION: Case Summary & 6 Largest Unsecured Creditors

SINCLAIR BROADCAST: Files Form 10-Q, Has $18.4-Mil. Profit in Q2
SK FOODS: Appeals Involving Former CEO Consolidated
SOLAR DRIVE: Sec. 341 Creditors' Meeting Set for Sept. 8
SOUTH OF THE STADIUM: Taps Ross C. Helbing as Assets Appraiser
SOUTHWEST GEORGIA ETHANOL: Requests More Time for Plan

SPANISH BROADCASTING: Acquires KTBU-TV for $16 Million
SUMMO, INC.: Case Summary & 14 Largest Unsecured Creditors
SWAMI SHREE: Case Summary & 20 Largest Unsecured Creditors
SWEET HOSPITALITY: Case Summary & 20 Largest Unsecured Creditors
TCI COURTYARD: Meeting of Creditors on Aug. 31

THREE D'S: Case Summary & 4 Largest Unsecured Creditors
T.O.D.A.Y.S. YOUTH: Files for Chapter 11 Bankruptcy Protection
T.O.D.A.Y.S. YOUTH: Case Summary & 20 Largest Unsecured Creditors
TP INC: Trustee Can Retain Cameron Management as Agent/Broker
TP INC: Trustee Can Hire Treasure Realty as Property Manager

TP INC: Trustee Taps Century 21 Action as Rental Property Manager
TRISTAR ESPERANZA: Case Summary & 4 Largest Unsecured Creditors
UNIFI INC: Completes Call for Partial Redemption of Senior Notes
VITRO SAB: Noteholders Want Recognition Petition Dismissed
WASTE2ENERGY HOLDINGS: Four Creditors File Involuntary Petition

WASTE2ENERGY HOLDINGS: Bondholders Seek to Oust Management
WASTE2ENERGY HOLDINGS: Involuntary Chapter 11 Case Summary
WEST CORP: Files Form 10-Q; Posts $34.3 Million Net Income in Q2
WESTMORELAND COAL: Incurs $7.9 Million Net Loss in Second Quarter
WESTMORELAND COAL: Registers 425,000 Shares of Common Stock

ZOTA PETROLEUMS: Files for Chapter 11 Bankruptcy Protection
ZOTA PETROLEUMS: Case Summary & 14 Largest Unsecured Creditors

* Troubled N.Y. Health-Care Nonprofit May Lose Medicaid License
* FDIC Discloses Bidders for Small Investor Program Pilot Sale
* Moody's: U.S. Retail Default Rate Low During Recession
* Federal Home Loan Banks, Depository Trusts Cut by S&P

* Ex. Gov. Carey, Who Helped NYC Duck Bankruptcy, Dies at 92

* Dallas Bankruptcy Lawyer Mark Ralston Joins Taber Estes Thorne

* Recent Small-Dollar & Individual Chapter 11 Filings


                            *********


3 S&L: Voluntary Chapter 11 Case Summary
----------------------------------------
Debtor: 3 S&L Building, LLC
        2651 W. Algonquin Road
        Algonquin, IL 60102

Bankruptcy Case No.: 11-83506

Chapter 11 Petition Date: August 8, 2011

Court: United States Bankruptcy Court
       Northern District of Illinois (Rockford)

Judge: Manuel Barbosa

Debtor's Counsel: David R. Herzog, Esq.
                  HERZOG & SCHWARTZ PC
                  77 W Washington Suite 1717
                  Chicago, IL 60602
                  Tel: (312) 977-1600
                  E-mail: drhlaw@mindspring.com

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

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.


4TH & 9TH: Case Summary & 2 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: 4th & 9th Townhomes, Inc
        P.O. Box 330108
        Atlantic Beach, FL 32233

Bankruptcy Case No.: 11-05858

Chapter 11 Petition Date: August 8, 2011

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

Debtor's Counsel: Taylor J. King, Esq.
                  LAW OFFICES OF MICKLER & MICKLER
                  5452 Arlington Expressway
                  Jacksonville, FL 32211
                  Tel: (904) 725-0822
                  Fax: (904) 725-0855
                  E-mail: court@planlaw.com

Scheduled Assets: $1,100,915

Scheduled Debts: $1,403,280

A list of the Company's two largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/flmb11-05858.pdf

The petition was signed by Chris Hionides, president.


785 PARTNERS: Sec. 341 Creditors Meeting Set for Sept. 12
---------------------------------------------------------
The United States Trustee will convene a meeting of creditors
pursuant to 11 U.S.C. Sec. 341(a) in the bankruptcy case of 785
Partners LLC on Sept. 12, 2011, at 2:30 p.m. at 80 Broad St., 4th
Floor, USTM.

785 Partners LLC owns the 566-foot glass sliver tower, nicknamed
the sliver tower, at 785 Eighth Avenue in Manhattan.  The 43-story
building has been frozen since 2010 while an $84 million
foreclosure suit wound its way through the courts.

On Oct. 6, 2010, the Supreme Court of the State of New York, New
York County, appointed Gerald Kahn as receiver in the foreclosure
action, which is styled "PB Capital Corporation, as Administrative
Agent for Lenders, PB Capital Corporation and TD Bank, N.A. v. 785
Partners LLC, Kevin O'Sullivan, Donal O'Sullivan, et al." (Index
No. 810039/2010).

785 Partners LLC filed a Chapter 11 petition (Bankr. S.D.N.Y. Case
No. 11-13702) on Aug. 3, 2011.  Andrew K. Glenn, Esq., at
Kasowitz, Benson, Torres & Friedman LLP, in New York, serves as
counsel.  The Debtor estimated assets and debts of $100 million to
$500 million.  The petition was signed by Kevin O'Sullivan, co-
manager.


785 PARTNERS: Initial Case Conference Scheduled for Sept. 20
------------------------------------------------------------
The Bankruptcy Court will hold an Initial Case Conference in the
bankruptcy case of 785 Partners LLC on Sept. 20, 2011, at 10:00
a.m. at Courtroom 723.

785 Partners LLC owns the 566-foot glass sliver tower, nicknamed
the sliver tower, at 785 Eighth Avenue in Manhattan.  The 43-story
building has been frozen since 2010 while an $84 million
foreclosure suit wound its way through the courts.

On Oct. 6, 2010, the Supreme Court of the State of New York, New
York County, appointed Gerald Kahn as receiver in the foreclosure
action, which is styled "PB Capital Corporation, as Administrative
Agent for Lenders, PB Capital Corporation and TD Bank, N.A. v. 785
Partners LLC, Kevin O'Sullivan, Donal O'Sullivan, et al." (Index
No. 810039/2010).

785 Partners LLC filed a Chapter 11 petition (Bankr. S.D.N.Y. Case
No. 11-13702) on Aug. 3, 2011.  Andrew K. Glenn, Esq., at
Kasowitz, Benson, Torres & Friedman LLP, in New York, serves as
counsel.  The Debtor estimated assets and debts of $100 million to
$500 million.  The petition was signed by Kevin O'Sullivan, co-
manager.


785 PARTNERS: Lender Wants Receiver to Continue Property Upkeep
---------------------------------------------------------------
First Manhattan Developments REIT asks the Bankruptcy Court to
excuse Gerald Kahn, the receiver of 785 Partners LLC's assets,
from complying with the requirements imposed under Sections 543(a)
and (b)(1) of the Bankruptcy Code.

First Manhattan alleges it is owed $100 million, which claim is
secured by the Debtor's property.  The creditor said the Debtor
has a "single asset real estate" case that was filed to stay a
foreclosure action that has been pending for over 10 months.  It
is essentially a two-party dispute.  It is undisputed that the
units in the Premises are not occupied by any tenants, and that
the Debtor has no income with which to pay the expenses necessary
to maintain and preserve the Premises.

Sections 543(a) and (b)(1) require the Receiver, among other
things, to cease his maintenance of the Premises and turnover all
property, including funds on hand, to the Debtor.  First
Manhattan, however, wants the Receiver to remain in place to
control, secure and protect the Premises, including maintaining an
operable safety system, insurance coverage and keeping out
squatters or vandals seeking to enter and damage the Premises.

First Manhattan contends the Debtor does not have the funds
necessary to maintain and secure the Premises.  For the past 10
months, funds necessary to pay for necessary expenditures
including security, heat, electricity, and insurance, have been
supplied to the Receiver from First Manhattan's predecessor.
First Manhattan seeks assurance that it should continue to advance
funds to the Receiver, so that he can continue fulfilling his
responsibilities under the Appointment Order, and preserve and
protect the Premises.

The Foreclosure Action arose in connection with three mortgages
which secure promissory notes in the aggregate principal amount of
up to roughly $84 million, which Notes and Mortgages are in
default and have fully matured.  The loans evidenced by the Notes
and Mortgages were originally made to the Debtor by PB Capital
Corporation, as Administrative Agent for lenders PB Capital
Corporation and TD Bank, N.A.

In July 2009, the Notes became due and the Debtor failed to pay
the outstanding principal balance and accrued interest.  On
July 23, 2009, the Debtor and the Initial Lenders entered into a
letter agreement which provided for, among other provisions, a
revised Maturity Date for the Notes of Aug. 7, 2009. When the
Notes became due and payable on Aug. 7, 2009, the Debtor again
failed to pay the outstanding principal balance and accrued
interest.

On Sept. 27, 2010, the Foreclosure Action was commenced against
several parties including the Debtor, as well as Kevin O'Sullivan
and Donal O'Sullivan, as guarantors of the Debtor's obligations
under the Notes and the Mortgages.  On July 29, 2011, First
Manhattan acquired the Initial Lenders' interest in the Mortgages
and Notes, and related agreements including certain guarantees.

Attorneys for First Manhattan Developments REIT are:

          Kenneth P. Silverman, Esq.
          Adam L. Rosen, Esq.
          SILVERMANACAMPORA LLP
          100 Jericho Quadrangle, Suite 300
          Jericho, NY 11573
          Tel: (516) 479-6300
          E-mail: KSilverman@SilvermanAcampora.com
                  ARosen@SilvermanAcampora.com

                        About 785 Partners

785 Partners LLC owns the 566-foot glass sliver tower, nicknamed
the sliver tower, at 785 Eighth Avenue in Manhattan.  The 43-story
building has been frozen since 2010 while an $84 million
foreclosure suit wound its way through the courts.

785 Partners LLC filed a Chapter 11 petition (Bankr. S.D.N.Y. Case
No. 11-13702) on Aug. 3, 2011.  Andrew K. Glenn, Esq., at
Kasowitz, Benson, Torres & Friedman LLP, in New York, serves as
counsel.  The Debtor estimated assets and debts of $100 million to
$500 million.  The petition was signed by Kevin O'Sullivan, co-
manager.


ACADEMIA SAGRADO: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Academia Sagrado Corazon, Inc.
        P.O. Box 11368
        San Juan, PR 00910

Bankruptcy Case No.: 11-06681

Chapter 11 Petition Date: August 8, 2011

Court: U.S. Bankruptcy Court
       District of Puerto Rico (Old San Juan)

Debtor's Counsel: Carlos Rodriguez Quesada, Esq.
                  LAW OFFICE OF CARLOS RODRIGUEZ QUES
                  P.O. Box 9023115
                  San Juan, PR 00902-3115
                  Tel: (787) 724-2867
                  E-mail: cerqlaw@coqui.net

Scheduled Assets: $2,000,000

Scheduled Debts: $190,089

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/prb11-06681.pdf

The petition was signed by Lcdo. Moises Gomez, vice-president.


ANGEL ACQUISITION: Changes Name to BioGeron Inc
-----------------------------------------------
Angel Acquisition Corp. filed a "certificate of change" with the
Nevada Secretary of State in order to effectuate a 1:15,900
reverse stock split and a contemporaneous 1:15,900 reduction in
the number of the Company's authorized shares of common stock, par
value $0.00001, in accordance with the procedure authorized by
Nevada Revised Statutes.  The board of directors determined that
it would be in the Company's best interest to effect the Reverse
Split and approved this corporate action by unanimous written
consent.  The Reverse Split does not require shareholder approval.

On Aug. 1, 2011, the Company filed "articles of merger" with the
Secretary of State of Nevada in order to effectuate a merger
whereby the Company merged with its wholly-owned subsidiary,
BioGeron, Inc., as a parent/ subsidiary merger with the Company as
the surviving corporation.  This merger, which became effective as
of Aug. 1, 2011, was completed pursuant to NRS 92A.180.
Shareholder approval to this merger was not required under NRS
92A.180.  In process of the merger, the Company's name has been
changed to "BioGeron, Inc." and the Company's Articles of
Incorporation have been amended to reflect this name change.

In connection with the Reverse Split and name change, the Company
has the following new CUSIP number: 09072F 100.  The Company has
submitted the required information to FINRA and expects to receive
an effective date and new trading symbol soon for the corporate
actions.

                     About Angel Acquisition

Carson City, Nev.-based Angel Acquisition Corp. was incorporated
under the laws of the state of Nevada on March 10, 1999, under the
name Palomar Enterprises, Inc.  On February 5, 2008, the Company
changed its name to Angel Acquisition Corp. to properly reflect
the change in business direction.  The Company assists private
companies in the process of going public as well as being a
licensed mortgage broker and developer.

As reported by the TCR on April 13, 2011, Gruber & Company, LLC,
Lake Saint Louis, Missouri, expressed substantial doubt about the
Company's ability to continue as a going concern, following the
2010 financial results.  The independent auditor noted that the
Company has been unable to generate sufficient operating revenues
and has incurred operating losses.

The Company's balance sheet at March 31, 2011, showed $617,760 in
total assets, $1.31 million in total liabilities and a $694,727
total stockholders' deficit.


ARCADE PUBLISHING: Author Not Entitled to Pre-Judgment Interest
---------------------------------------------------------------
Arcade Publishing, Inc., objects to Claim No. 62 filed by Steven
K. Hodel, challenging the portion of the unsecured claim seeking
prepetition prejudgment statutory interest under section 5001(a)
of the New York Civil Practice Law and Rules.  Mr. Hodel timely
filed a claim for $333,335.52 -- comprised of the principal amount
of $224,571.07, plus statutory interest. Before the bankruptcy
petition was filed, Mr. Hodel had filed a breach of contract
action against Arcade in New York County Supreme Court, but the
bankruptcy petition was filed before the State Court Action
concluded.  Arcade argues that the Claim should be allowed only in
the principal amount of $224,571.07; it objects to the allowance
of prepetition prejudgment statutory interest for $108,716.19.

Bankruptcy Judge Martin Glenn sustained Arcade's Objection and
allowed the Claim in the principal amount of $224,571.07, without
interest.  Based on the plain language of NY CPLR Sec. 5001(a), in
the absence of a "sum awarded" in a New York state court (or
bankruptcy court) action, Mr. Hodel is not entitled to statutory
interest as a portion of the Claim.

Mr. Hodel's Claim arises from unpaid royalties from his book, The
Black Dahlia Avenger - A Genius for Murder, under a publishing
agreement between Arcade and Mr. Hodel executed in 2002.  The
Black Dahlia Avenger - A Genius for Murder, reached as high as
number 14 on The New York Times "Best Sellers - Nonfiction" list
in May 2003, became a best seller in France and was published in
at least three other foreign countries.

A copy of Judge Glenn's Aug. 9, 2011 Memorandum Opinion is
available at http://is.gd/fg3qrQfrom Leagle.com.

Attorney for Steven K. Hodel is:

          Anthony N. Elia, Esq.
          THE LAW OFFICE OF ANTHONY N. ELIA, P.C.
          325 Broadway, Suite 201
          New York, NY 10007
          Tel: (212) 233-5300
          Fax: (212) 349-0694
          E-mail: info@anelaw.com

                           About Arcade

Arcade Publishing, Inc., was a full-service publishing company
that had been in business for over 20 years.  Arcade specialized
in publishing international and domestic literary works and
enjoyed a prominent reputation within the industry.  With the
death of Arcade's president, Richard Seaver, the company struggled
to reorganize and find investors.  The woes of the publishing
industry as well as the economic climate seemed to be the final
straws, leading Arcade to seek relief under chapter 11 (Bankr.
S.D.N.Y. Case No. 09-13636) on June 5, 2009.  Nancy L. Kourland,
Esq. -- nkourland@rosenpc.com -- at Rosen & Associates, P.C., in
New York, represents the Debtor.  The Company estimated $1 million
to $10 million in both assets and debts.  On July 22, 2010, the
Court entered an order approving the sale of the Debtor's assets
to Skyhorse Publishing, Inc.  A Joint Plan of Liquidation of the
Official Committee of Unsecured Creditors and the Debtor was
confirmed on April 15, 2011.  Arcade's disclosure statement
estimated recoveries by unsecured creditors in the range of 7% to
8%.


ARCH ALUMINUM: Trustee Has $370T from Settlement of Preferences
---------------------------------------------------------------
Chapter11Cases.com reports that the trustee for the Arch Aluminum
& Glass Co. Liquidating Trust, John Pidcock, filed a report
regarding his efforts to recover alleged preferential transfers by
Arch Aluminum & Glass Co., Inc; AAG Holdings, Inc.; Arch Aluminum,
L.C.; Arch Aluminum and Glass International, Inc.; and AWP, LLC
with the Southern District of Florida bankruptcy court on Friday.

Since its retention in November 2010, the law firm representing
the liquidating trustee issued demand letters to 208 creditors
which the liquidating trustee asserted received preferential
transfers that were recoverable under section 547 of the
Bankruptcy Code.  The liquidating trustee has also filed 87
adversary complaints seeking to recover alleged preferential
transfers.

The liquidating trustee's report says it has reached settlements
with approximately 35 creditors who received challenged transfers.
In total, the liquidating trustee had sought to recover almost
$1.57 [million] in alleged preferential transfers from these
creditors.

Chapter11Cases.com notes that the trustee has settled these claims
for slightly less than $370,000, however.  Of the 35 settlements,
only one settlement relates to an adversary complaint filed by the
trustee; the rest relate to settlements of demand letters.  The
firm representing the liquidating trustee is entitled to 25% of
the settlement amounts, plus recovery of reasonable expenses, as a
contingency fee.  Therefore, the firm has claimed $91,655.05 as
its contingency fee from the $370,000 in settlements.

                      About Aluminum & Glass

Tamarac, Florida-based Arch Aluminum & Glass Co., Inc. -- fka
Trident Consolidated Industries, Arch, Inc., and Arch Tulsa
Acquisition Co.; and dba Arch Mirror North, Arch Mirror South,
Architectural Safety Glass, Arch Mirror West, Arch Tempered Glass
Products, and Arch Deco Glass -- was founded in 1978 by Robert
Silverstein, as a small South Florida glass and metal distributor
with a single truck.  During the 1980's the Company opened
fabrication facilities and additional distribution facilities in
Florida and the Northeast.  The Company provides a comprehensive
line of products and services to more than 5,000 customers from 28
office, manufacturing and distribution facilities located in 19
states nationwide.

The Company filed for Chapter 11 bankruptcy protection (Bankr.
S.D. Fla. Case No. 09-36232) on Nov. 25, 2009.  The
Company estimated $100 million to $500 million in assets and
liabilities as of the Chapter 11 filing.

The Company's affiliates -- Arch Aluminum L.C.; AWP, LLC, dba
Yale-Ogron; Arch Aluminum and Glass International Inc.; and AAG
Holdings, Inc. -- also filed separate Chapter 11 petition.

Paul J. Battista, Esq., at Genovese Jblove & Battista, P.A.,
serves as bankruptcy counsel to the Debtors.  Vincen J. Colistra
at Phoenix Management Services is the Debtors' restructuring
services provider.  Michael Dillahunt and Piper Jaffrey & Co. is
the Debtors' investment banker


ARNOLD DORMER: Files for Chapter 11 Bankruptcy Protection
---------------------------------------------------------
Arnold R. Dormer Jr. filed a Chapter bankruptcy petition (Bankr.
W.D. Tenn. Case No. 11-27934) on Aug. 5, 2011.

Aisling Maki at the Daily News reports Mr. Dormer, a real estate
investor from Tennessee, disclosed assets of more than $3.3
million.  Creditors he identified include Independent Bank,
BancorpSouth Mortgage and the city of Memphis.

According to the Daily News, Mr. Dormer is scheduled to lead an
early-bird table-top session called "Getting Started Right in Real
Estate Investing" Thursday, Aug. 11, at the monthly Memphis
Investors Group meeting at the Hilton Memphis, 939 Ridge Lake
Blvd.


ASSOCIATED GROCERS: Camden Buys Property for $5 Million
-------------------------------------------------------
Mainebiz News reports that Camden National Corp., parent company
of Camden National Bank, acquired Associated Grocers of Maine's
land and buildings for $5 million at a public auction.

Kennebec Journal said that the bank, which held the association's
$4.8 million mortgage, had foreclosed on the property and set up
the auction, according to Mainebiz News.  The report relates that
the sale included 120 acres and a 263,000-square-foot distribution
warehouse in Gardiner, valued at more than $16 million.

                      About Associated Grocers

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

The Associated Grocers of Maine was placed in court-ordered
receivership in April 2011, after accumulating at least $10.8
million in debt, mostly for two mortgages owed to Savings Bank of
Maine and Camden National Bank, the report recalls.


BAKERS FOOTWEAR: Reports $44.3-Mil. of Net Sales in 2nd Quarter
---------------------------------------------------------------
Bakers Footwear Group, Inc., reported that for the second quarter,
the thirteen weeks ended July 30, 2011, net sales were $44.3
million, increasing 2.4% from $43.3 million for the thirteen weeks
ended July 31, 2010.  Comparable store sales for the second
quarter of fiscal 2011 increased 4.7%, compared to a comparable
store sales increase of 0.2% for the second quarter of fiscal
2010.

For the first six months of fiscal 2011 ended July 30, 2011, net
sales were $91.3 million, increasing 5.2% from $86.8 million in
the first six months ended July 31, 2010.  Comparable store sales
for the first six months of fiscal 2011 increased 7.1%, compared
to a decrease of 0.7% in the first six months of fiscal 2010.

Peter Edison, Chairman and Chief Executive Officer of Bakers
Footwear Group commented, "We began the quarter strong with double
digit comparable store sales growth in May.  However, a
challenging performance in open-toe footwear led to a softening in
sales as the quarter progressed.  As we look ahead, we are
optimistic that our business is positioned appropriately to
capitalize on key trends for the fall season."

                       About Bakers Footwear

St. Louis, Mo.-based Bakers Footwear Group, Inc. (OTC BB: BKRS.OB)
is a national, mall-based, specialty retailer of distinctive
footwear and accessories for young women.  The Company's
merchandise includes private label and national brand dress,
casual and sport shoes, boots, sandals and accessories.  The
Company currently operates 231 stores nationwide.  Bakers' stores
focus on women between the ages of 16 and 35.  Wild Pair stores
offer fashion-forward footwear to both women and men between the
ages of 17 and 29.

The Company reported a net loss of $9.29 million on
$185.62 million of net sales for the fiscal year ended Jan. 29,
2011, compared with a net loss of $9.08 million on $185.36 million
of net sales for the year ended Jan. 30, 2010.

The Company's balance sheet at April 30, 2011, showed
$48.51 million in total assets, $56.92 million in total
liabilities and a $8.41 million total shareholders' deficit.

As reported by the TCR on May 6, 2011, Ernst & Young LLP, in St.
Louis, Mo., expressed substantial doubt about Bakers Footwear's
ability to continue as a going concern.  The independent auditors
noted that the Company has incurred substantial losses from
operations in recent years and has a significant working capital
deficiency.

                         Bankruptcy Warning

The Company noted in the Form 10-K that its ability to maintain
and ultimately improve its liquidity position is highly dependent
on sustaining the positive sales trends that began in June 2008
and have continued through April 2011.  Comparable store sales for
the last three quarters of fiscal year 2008 increased 4.7% and its
comparable store sales for fiscal years 2009 and 2010 increased
1.3% and 1.7%, respectively.  Through the first 12 weeks of fiscal
year 2011 comparable stores sales increased 10.1%.

The Company noted that net losses in recent years have negatively
impacted its liquidity and financial position.  As of Jan. 29,
2011, it had negative working capital of $8.7 million, unused
borrowing capacity under our revolving credit facility of $3.1
million, and a shareholders' deficit of $6.0 million.

The Company stated, "If positive sales trends do not continue, or
if we were to incur significant unplanned cash outlays, it would
become necessary for us to obtain additional sources of liquidity,
or take additional cost cutting measures.  Any future financing
would be subject to our financial results, market conditions and
the consent of our lenders.  We may not be able to obtain
additional financing or we may only be able to obtain such
financing on terms that are substantially dilutive to our current
shareholders and that may further restrict our business
activities.  If we cannot obtain needed financing, our operations
may be materially negatively impacted and we may be forced into
bankruptcy or to cease operations and you could lose your
investment in the Company."


BERNARD L MADOFF: Trustee Can't Pursue Bank Austria Claims
----------------------------------------------------------
Carla Main at Bloomberg News reports that Irving Picard, the
trustee for Bernard Madoff's former firm, doesn't have standing to
pursue common-law claims against UniCredit Bank Austria AG, a unit
of UniCredit Spa, Italy's biggest bank, a federal judge ruled.
U.S. District Judge Jed Rakoff in New York on Aug. 6 added
UniCredit Bank Austria to a July 28 opinion barring Mr. Picard
from pursuing some claims in his lawsuit against the UniCredit
parent company as well as London-based HSBC Holdings Plc.  The
July 28 order was amended, Rakoff wrote, to "include a dismissal
of the trustee's common law claims against Bank Austria."

Ms. Main reports that Mr. Picard in December filed a revised
complaint in U.S. Bankruptcy Court against HSBC, accusing it of
aiding Mr. Madoff's fraud.  The complaint seeks to recover $2
billion in transfers out of Mr. Madoff's business.  It also
asserted common-law claims seeking at least $6.6 billion from HSBC
and about $2 billion from a group of 36 other defendants,
including Milan-based UniCredit, according to Judge Rakoff's
ruling.  Judge Rakoff took the case out of bankruptcy court and
considered whether Mr. Picard could bring common-law claims, such
as aiding and abetting Mr.  Madoff's fraud.  The judge said on
July 28 that all the common-law claims must be dismissed, with the
remainder of the case returned to the bankruptcy court.  Mr.
Picard didn't immediately return a phone message seeking comment
yesterday after regular business hours.  The case is Picard v.
HSBC Bank Plc, 11-cv-0763, U.S. District Court, Southern District
of New York (Manhattan).

                     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.


BESO LLC: Landry's to Offer $1 Million for Restaurant
-----------------------------------------------------
Jacqueline Palank, writing for Dow Jones' Daily Bankruptcy Review,
reports that Beso LLC, on Monday hired a unit of Landry's
Restaurants Inc. to manage its operations.  In court papers filed
Tuesday, Beso's attorneys also disclosed that Landry's intends to
make an offer to buy Beso for $1 million, but the restaurant would
have the right to seek higher offers.  According to DBR, Beso's
attorneys are asking the Court to approve the management
agreement, which they deemed "the only viable alternative to
ceasing operation" of the cash-crunched restaurant.

DBR notes Landry's Chairman and Chief Executive Tilman Fertitta
told Vegas Inc. in an interview Tuesday that Eva Longoria would
retain a "substantial" stake in Beso, visit the restaurant when
she came to town and maintain her say in the restaurant's menu and
direction.

Landry's bought the Western-themed steakhouse chain Claim Jumper
and the fine-dining seafood chain Oceanaire out of Chapter 11 in
recent years.  Tilman Fertitta's cousins, Frank and Lorenzo
Fertitta, continue to operate and own a stake in the Station
Casinos chain following its emergence from Chapter 11 protection
this June.

                 Longoria Deposition on Aug. 30

Steve Green, writing for VegasInc., reported that the Bankruptcy
Court has directed Ms. Longoria to appear in Las Vegas on Aug. 30
to be examined about Beso's finances.  Disgruntled Beso investor
Mali Nachum made the request.  The Nachums assert they were
wrongfully pushed out of the business and are still owed more than
$710,000.

Bankruptcy Judge Mike Nakagawa on July 18 denied a request by the
Nachums that a trustee be appointed on an emergency basis, but
left the door open for the Nachums to resubmit their request on a
normal basis.

Mr. Green also reported that Beso has filed a financial report
showing it lost $394,000 in June, up sharply from May's loss of
about $65,000.  Revenue in June of about $704,000 was down from
$1 million in May.  Through June, the business had lost about
$669,000 since filing for bankruptcy on Jan. 6 with $5.68 million
in debt and liabilities.

The Nachums are represented by:

          Brian D. Shapiro, Esq.
          LAW OFFICE OF BRIAN D. SHAPIRO, LLC
          228 South 4th Street, Suite 300
          Las Vegas, NV 89101
          Tel: 702-386-8600
          Fax: 702-383-0994
          E-mail: mail@brianshapirolaw.com

                          About Beso LLC

Beso, LLC, co-owned by "Desperate Housewives" star Eva Longoria,
filed for Chapter 11 bankruptcy protection on January 6, 2011
(Bankr. D. Nev. Case No. 11-10202).  Beso, LLC, runs a Las Vegas
restaurant that opened two years ago.  It disclosed assets of
$2,512,007 and liabilities of $5,680,339 in the schedules attached
to the Chapter 11 petition.  Lenard E. Schwartzer, Esq., at
Schwartzer & McPherson Law Firm, in Las Vegas, Nevada, serves as
counsel to the Debtor.  The petition was signed by William M.
Braden, manager.


BILL JOHNSON'S: Big Apple Restaurants to Remain Open in Chapter 11
------------------------------------------------------------------
Max Jarman at The Arizona Republic reports that Bill Johnson's Big
Apple Restaurants CEO Sherry Cameron said the Company doesn't
contemplate closing any of its restaurants during the
reorganization and will retain its 200 employees.

Bill Johnson's sought bankruptcy protection as the 55-year-old
business has suffered from declining sales and falling real-estate
values as the Phoenix-area economy deteriorated.

According to the company's petition, Bill Johnson's Restaurants
has $5.64 million in assets and $1.89 million in liabilities.
Of the debt, $1.57 million is said to be secured, $215,988 is
unsecured and $98,210 owed to unsecured creditors with priority
claims.

Phoenix, Arizona-based Bill Johnson's Restaurants, Inc., doing
business as Bill Johnson's Big Apple Restaurants, filed a Chapter
11 petition (Bankr. D. Ariz. Case No. 11-22441) on Aug. 4, 2011.
Shelton L. Freeman, Esq., at Deconcini Mcdonald Yetwin & Lacy PC,
in Scottsdale, Arizona, serves as counsel to the Debtor.  The
Debtor estimated assets and debts of $1 million to $10 million.


BLUEKNIGHT ENERGY: Files Form 10-Q, Incurs $5.3MM Net Loss in Q2
----------------------------------------------------------------
Blueknight Energy Partners, L.P., filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q,
reporting a net loss of $5.34 million on $43.09 million of total
revenue for the three months ended June 30, 2011, compared with a
net loss of $2.70 million on $38.44 million of total revenue for
the same period a year ago.

The Company also reported a net loss of $2.71 million on
$84.61 million of total revenue for the six months ended June 30,
2011, compared with a net loss of $7.75 million on $75.47 million
of total revenue for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed
$327.44 million in total assets, $372.97 million in total
liabilities, and a $45.52 million total partners' deficit.

"Second quarter adjusted EBITDA was less than anticipated due to
$1.0 million of increased maintenance expense (net of $1.4 million
of reimbursed maintenance expense) and $0.3 million of legal,
financial and advisory expenses related to the refinancing
transaction," said J. Michael Cockrell, Blueknight Energy Partners
president and chief operating officer.  "The increased maintenance
expense results from the implementation of tank inspection
programs and previously deferred maintenance on our pipeline
systems, including the repair of small leaks.  We expect to
sustain increased maintenance and maintenance capital expense
through 2012.  We also experienced operating margin shortfalls in
our crude oil trucking business due to the continued realignment
of that business, transitioning the fleet to newer equipment and
increased competition for qualified crude oil drivers."

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

                        http://is.gd/yYOgyT

                      About Blueknight Energy

Blueknight Energy Partners, L.P. (Pink Sheets: BKEP)
-- http://www.bkep.com/-- provides integrated terminalling,
storage, processing, gathering and transportation services for
companies engaged in the production, distribution and marketing of
crude oil and asphalt product. It provides services for the
customers, and its only inventory consists of pipeline linefill
and tank bottoms necessary to operate the assets. It has three
operating segments: crude oil terminalling and storage services,
crude oil gathering and transportation services, and asphalt
services.

The Company reported a net loss of $23.79 million on
$152.62 million of total revenue for the year ended Dec. 31, 2010,
compared with a net loss of $16.50 million on $156.77 million of
total revenue during the prior year.


BORDERS GROUP: Streambank to Manage Intellectual Property Sale
--------------------------------------------------------------
The Bankruptcy Court for the Southern District of New York today
approved the retention of Streambank, LLC to market and sell the
intellectual property assets of Borders Group, Inc., including its
Borders(R), Waldenbooks(R), and Brentano's(R) trademarks and the
Borders.com e-commerce business assets.  The Bankruptcy Court has
authorized a sale process for the intellectual property assets
that requires bids for the assets by September 8, 2011 and an
auction on September 14, 2011.

Commenting on the sale, Streambank Principal David Peress noted
"Borders has established a worldwide reputation as a leading
destination for buyers of physical and digital media including
books, eBooks, eReaders and related accessories.  Borders remains
engaged with its customers through the Borders.com e-commerce site
which it expects to continue in business until transitioned to a
new operator.  In addition to its trademarks and e-commerce
assets, Borders is the holder of a contiguous block of IPv4
addresses which it seeks to transfer to a qualified buyer."

In accordance with the Bankruptcy Court Order approving the
intellectual property sale process, Borders has the ability to
provide certain protections to bidders who make meaningful non-
contingent offers for the intellectual property assets. Parties
with an interest in the intellectual property assets should
contact David Peress at (781) 444-4940 or
dperess@streambankllc.com for more information.

                       About Streambank

Streambank is an advisory firm, specializing in the valuation,
marketing, and sales of intangible assets for businesses at all
stages.  Streambank identifies, preserves, and extracts value for
clients through the application of experience, diligence and
creativity. The firm's recent experience includes Robb & Stucky
Furniture, Berkline/BenchCraft, Tavern on the Green, Anchor Blue,
Movie Gallery, Circuit City Stores, KB Toys and other notable
trademarks and brand names.

                        About Borders Group

Headquartered in Ann Arbor, Mich., Borders Group, Inc. (NYSE: BGP)
-- <http://www.borders.com/>http://www.borders.com/-- is a
specialty retailer of books as well as other educational and
entertainment items.  The company employs approximately 25,000
workers throughout the U.S., primarily in its Borders(R) and
Waldenbooks(R) stores.  Borders announced the closing of 200
Waldenbooks stores in Nov. 20009.  Online shopping is offered
through borders.com.

Borders Group, Inc., has $1.125 billion of first-lien loans
maturing in July 31, 2011.  At Aug. 1, 2009, Borders Group,
Inc.'s balance sheet showed $1.5 billion in assets and
$136.9 million in shareholder equity.  Borders Group, Inc., has
reported net losses in 2007, 2008 and 2009.


BRADFORD BROWN: Dist. Ct. Tosses Brother's Appeal Over IRS Accord
-----------------------------------------------------------------
District Judge Clay D. Land of the U.S. District Court for the
Middle District of Georgia, Athens Division, affirmed a bankruptcy
court's approval of a compromise between Ernest V. Harris, the
Chapter 7 Trustee for the estate of Bradford G. Brown, and the
Internal Revenue Service.  The Debtor was convicted of criminal
tax evasion for the years 1994 and 1995.  As part of his sentence,
the District Court entered an award of restitution against him for
over $3 million. In January 2005, the Debtor filed a Chapter 11
bankruptcy case (Bankr. M.D. Ga. 05-_____), which was subsequently
converted to Chapter 7.  The IRS filed a proof of claim in that
case for $3,660,954.66 in unpaid taxes, penalties, and interest
for the tax years 1994 through 2003.

In February 2007, the Chapter 7 Trustee filed Adversary Proceeding
No. 07-3007 to determine the amount of the IRS's claim and the
extent and validity of its secured claim. After over three years
of investigation and negotiation, the Trustee and the IRS reached
a settlement to resolve the controversy, and the Trustee filed a
motion to compromise the controversy in October 2010. Under the
compromise, the IRS's original $3,660,954.66 claim was reduced by
$1,244,865.00 to $2,416,088.00, of which $454,155.00 was treated
as an allowed secured claim and $1,961,933.00 was treated as an
allowed unsecured claim.

The Debtor's brother, Martin L. Brown, objected to the settlement
for two reasons.  Despite the Debtor's criminal conviction for tax
evasion, the brother continued to maintain that the Debtor owed no
taxes for the years 1994 and 1995.  The brother also maintained
that the IRS levied $10.6 million in insurance payments that were
intended for the Debtor, and that any tax liability was paid
pursuant to those levies.  The brother produced no other evidence
to substantiate his contention that the IRS levied funds intended
for the Debtor.  The bankruptcy court approved the settlement.

In his Aug. 9, 2011 Order, Judge Land held that the bankruptcy
court did not abuse its discretion in approving the Trustee's
motion to compromise.  The appellate case is Martin L. Brown,
Appellant, v. Ernest V. Harris, Trustee, Appellee, No. 3:11-CV-25
(M.D. Ga.).  A copy of the ruling is available at
http://is.gd/gAeF1qfrom Leagle.com.


BRETAGNE, LLC: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Bretagne, LLC
        814 Pebble Drive
        Greensboro, NC 27410

Bankruptcy Case No.: 11-11218

Chapter 11 Petition Date: August 8, 2011

Court: U.S. Bankruptcy Court
       Middle District of North Carolina (Greensboro)

Judge: William L. Stocks

Debtor's Counsel: Dirk W. Siegmund, Esq.
                  IVEY, MCCLELLAN, GATTON, & TALCOTT, LLP
                  100 S. Elm Street, Suite 500
                  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 20 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/ncmb11-11218.pdf

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


CATALYST PAPER: Files Form 6-K, Incurs C$47.7-Mil. Net Loss in Q2
-----------------------------------------------------------------
Catalyst Paper filed with the U.S. Securities and Exchange
Commission a form 6-K reporting a net loss of C$47.70 million on
C$297.80 million of sales for the three months ended June 30,
2011, compared with a net loss of C$368.10 million on C$299.40
million of sales for the same period during the prior year.

The Company also reported a net loss of C$60.60 million on
C$601.40 million of sales for the six months ended June 30, 2011,
compared with a net loss of C$412.80 million on C$572.70 million
of sales for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed
C$1.59 billion in total assets, C$1.25 billion in total
liabilities, and C$340.90 million in total equity.

A full-text copy of the Form 6-K is available for free at:

                        http://is.gd/Yjbjkv

                        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.


CENTRAL FALLS: Bankruptcy Filing Allows Trustee to Rewrite Deals
----------------------------------------------------------------
The Providence Journal reports that the state receiver charged
with reorganizing Central Falls' finances reiterated, in a court
filing, his claim that last week's bankruptcy filing gave him the
power to rewrite the city's union contracts even before the
bankruptcy judge rules on the filing.

According to the report, during a conference last week in federal
bankruptcy court among lawyers for the receiver, Robert G.
Flanders Jr., and the city's unions and retirees, questions were
raised about whether Flanders was able to invoke the power of
bankruptcy before the judge ruled on whether the city's filing was
sufficient.

The report says the trustee's lawyer filed a brief in court that
said, essentially: Yes. He can.

The trustee has used that authority to impose changes in the
city's pension and health-insurance plans that could reduce some
retirees' pensions by as much as 50 percent.  He said he further
plans to announce changes in the city's current employee
contracts, though probably not pay cuts, within the next 30 days.

The report says the brief supporting his use of that authority
cited federal law and cases under Chapter 9, the federal
bankruptcy law that allows municipalities to file for bankruptcy,
and Chapter 11, the commercial bankruptcy law on which Chapter 9
was based.  The Trustee's lawyer, Theodore Orson, said courts in
previous cases had ruled that, by itself, the act of filing for
bankruptcy triggers the law's protections and powers.

                        About Central Falls

Central Falls is a city in Providence County, Rhode Island.  The
population was 18,928 at the 2000 census.  Central Falls is the
smallest and most densely populated city in Rhode Island.

Central Falls sought bankruptcy protection under Chapter 9 of the
U.S. Bankruptcy Code (Bankr. D. R.I. Case No. 11-13105) on Aug. 1,
2011.  The Chapter 9 filing was made after former Rhode Island
Supreme Court Judge Robert Flanders, who serves as state-appointed
receiver for the city, was unable to negotiate significant
concessions from unions representing police officers, firefighters
and other city workers.  The city grappled with an $80 million
unfunded pension and retiree health benefit liability that is
nearly quadruple its annual budget of $17 million.  Judge Robert
Flanders succeeded the role from retired Superior Court Associate
Justice Mark A. Pfeiffer, who was appointed in July 2010.

Judge Frank Bailey presides over the Chapter 9 case.  Theodore
Orson, Esq., at Orson and Brusini Ltd., serves as bankruptcy
counsel to the receiver.


CHRISTIAN BROTHERS: Court Okays Bansley & Keiner as Accountant
--------------------------------------------------------------
The Hon. Robert D. Drain of the U.S. Bankruptcy Court for the
Southern District of New York authorized the Christian Brothers'
Institute and its debtor-affiliate to employ Bansley & Keiner as
accountant.

The firm will review the annual compilation of the Debtors'
statement of position as of June 30, 2011, and the related
statements of activities and cash flows for the year then ended.

The fee for the services to be rendered by the firm is estimated
not to exceed $5,000, plus expenses.

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

The Christian Brothers' Institute and The Christian Brothers of
Ireland filed for Chapter 11 bankruptcy protection (Bankr.
S.D.N.Y. Case Nos. 11-22820 and 11-22821) on April 28, 2011.
Scott S. Markowitz, Esq., at Tarter Krinsky & Drogin LLP, serves
as the Debtors' bankruptcy counsel.  CBI estimated its assets at
$50 million to $100 million and debts at $1 million to
$10 million.  CBOI estimated its assets at $500,000 to $1 million
and debts at $1 million to $10 million.


CHRISTIAN BROTHERS: Wants Plan Filing Exclusivity Until Dec. 24
---------------------------------------------------------------
The Christian Brothers' Institute and its debtor-affiliate ask the
Hon. Robert D. Drain of the U.S. Bankruptcy Court for the Southern
District of New York to extend their exclusive periods to:

   a) file a Chapter 11 plan until Dec. 24, 2011, and

   b) solicit acceptances of that plan until Feb. 22, 2012.

The current deadline for filing a plan expires on Aug. 26, 2011.

The Debtors tell the Court that they have recently filed
applications and proposed orders to retain accountants who will be
reviewing the Debtors' finances and will give the Debtors advice
with respect to (i) operations; (ii) the funding that will be
required for continued operations; and (iii) evaluating the costs
to modify or change their present structure.  The Debtors believe
that this analysis will take several months and must be completed
before embarking on plan/reorganization negotiations.

              About Christian Brothers' Institute

The Christian Brothers' Institute in New Rochelle, New York, is a
domestic not-for-profit 501(c)(3) corporation organized under Sec.
102(a)(5) of the New York Not-for-Profit Corporation Law.  CBI was
formed to establish, conduct and support Catholic elementary and
secondary schools principally throughout New York State.

The Christian Brothers of Ireland, Inc., in Chicago, Illinois, is
a domestic not-for-profit 501(c)(3) corporation organized under
the Not-for-Profit Corporation Law of the State of Illinois.  CBOI
was formed to establish, conduct and support Catholic elementary
and secondary schools principally throughout the State of
Illinois, as well as other spiritual and temporal affairs of the
former Brother Rice Province of the Congregation of Christian
Brothers.

CBI and CBOI depend upon grants and donations to fund a portion of
their operating expenses.

The Christian Brothers' Institute and The Christian Brothers of
Ireland filed for Chapter 11 bankruptcy protection (Bankr.
S.D.N.Y. Case Nos. 11-22820 and 11-22821) on April 28, 2011.
Scott S. Markowitz, Esq., at Tarter Krinsky & Drogin LLP, serves
as the Debtors' bankruptcy counsel.  CBI estimated its assets at
$50 million to $100 million and debts at $1 million to
$10 million.  CBOI estimated its assets at $500,000 to $1 million
and debts at $1 million to $10 million.


CLEARWIRE CORP: Files Form 10-Q; Incurs $168.7MM Net Loss in 2Q
---------------------------------------------------------------
Clearwire Corporation filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, reporting a net loss
attributable to Clearwire of $168.73 million on $322.61 million of
revenue for the three months ended June 30, 2011, compared with a
net loss attributable to Clearwire of $125.91 million on $117.03
million of revenue for the same period during the prior year.

The Company also reported a net loss attributable to Clearwire of
$395.69 million on $559.42 million of revenue for the six months
ended June 30, 2011, compared with a net loss attributable to
Clearwire of $220.01 million on $217.79 million of revenue for the
same period a year ago.

The Company's balance sheet at June 30, 2011, showed $9.11 billion
in total assets, $5.02 billion in total liabilities, and
$4.08 billion in total stockholders' equity.

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

                        http://is.gd/BfBnyI

                    About Clearwire Corporation

Kirkland, Wash.-based Clearwire Corporation (NASDAQ: CLWR)
-- http://www.clearwire.com/-- through its operating
subsidiaries, is a leading provider of wireless broadband
services.  Clearwire's 4G mobile broadband network serves 68
markets, including New York City, Los Angeles, Chicago, Dallas,
Philadelphia, Houston, Miami, Washington, D.C., Atlanta and
Boston.

The Company reported a net loss of $2.30 billion on
$556.82 million of revenue for the year ended Dec. 31, 2010,
compared with a net loss of $1.25 billion on $274.46 million of
revenue during the prior year.

                          *     *     *

As reported by the Troubled Company Reporter on Nov. 11, 2010,
Standard & Poor's Ratings Services lowered its corporate credit
rating, and all other ratings, on Clearwire Corp. to 'CCC' from
'B-'.  At the same time, S&P revised the CreditWatch listing on
the company from negative to developing.  S&P had initially placed
the ratings on CreditWatch with negative implications on Oct. 6,
2010, based on S&P's view that Clearwire faced significant near-
term liquidity risks.

The downgrade follows the Company's disclosure -- in its Form 10-Q
for quarter ended Sept. 30, 2010 -- regarding the uncertainty
about its ability to obtain additional capital and continue as a
going concern.  In Clearwire's 2010 third-quarter earnings report
and conference call, the company indicated that it expected to run
out cash by mid-2011, which is consistent with S&P's earlier
comments.  Cash totaled around $1.4 billion as of Sept. 30, 2010.


COLONIAL PROPERTIES: Fitch Affirms Issue Default Rating at 'BB+'
----------------------------------------------------------------
Fitch Ratings has affirmed the following credit ratings of
Colonial Properties Trust and its operating partnership, Colonial
Realty Limited Partnership:

Colonial Properties Trust

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

Colonial Realty Limited Partnership

  -- IDR at 'BB+';
  -- Unsecured revolving credit facilities at 'BB+';
  -- Senior unsecured notes at 'BB+';
  -- Preferred operating partnership units at 'BB-'.

The Rating Outlook has been revised to Positive from Stable.

The revision of Colonial's Rating Outlook to Positive from Stable
reflects healthy fundamentals across Colonial's multifamily
portfolio that are expected to continue their positive trajectory
over the near term and materially improve the company's leverage
and coverage metrics.  The Positive Outlook also takes into
account CLP's strong liquidity position, manageable debt maturity
schedule, and reduced development risk.

While Fitch anticipates upward rating momentum over the next 12-
to-24 months, the company's leverage and coverage are currently
more consistent with a 'BB+' rating.  In addition, the company has
moderate levels of secured debt and an unencumbered asset coverage
of unsecured debt ratio that indicates somewhat limited contingent
liquidity.  The rating takes into account Colonial's focus on
markets with lower barriers to entry.

Net debt-to-recurring operating EBITDA (including cash
distributions from partially-owned entities) for the 12 months
ended June 30, 2011 was 8.8 times (x), down from 9.3x and 9.4x as
of Dec. 31, 2010 and Dec. 31, 2009, respectively.  Leverage when
measured by annualizing second quarter 2011 (2Q'11) EBITDA was
8.2x, and Fitch projects that leverage will fall to below 8.0x
over the next 12-to-24 months as fundamentals continue to improve,
which would be appropriate for a higher IDR.  The repurchase and
retirement of unsecured debt, largely with proceeds from the
company's at-the-market equity offering program, and increasing
same store net operating income have reduced leverage.  In a more
adverse case than anticipated by Fitch, leverage could rise above
10x over the next 12-to-24 months, which would result in a
downgrade to 'BB'.

The company is also well capitalized at a 'BB' rating category
stress level, with a risk adjusted capitalization of 1.4x as of
June 30, 2011, and is also adequately capitalized at a 'BBB'
rating category stress level with a risk-adjusted capitalization
of 1.1x as of June 30, 2011.

In general, multifamily fundamentals in CLP's markets are
experiencing a positive inflection point. CLP's same store net
operating income (SSNOI) grew 7.5% in 2Q'11, 5.7% in 1Q'11, and
3.5% in 4Q'10, after seven quarters of SSNOI declines.
Furthermore, occupancy is strong at 96.2%, compared with 95.9% at
Dec. 31, 2010 and 94.7% at Dec. 31, 2009.  The company is
currently experiencing rent growth on renewals and new leases over
5.0%, which will drive solid growth over the next 12 months.
Fitch anticipates that fundamentals will continue to improve from
current levels due to moderate job growth, limited new supply, and
favorable demographics across the Sunbelt region.

Colonial's liquidity position is strong. Sources of liquidity
(unrestricted cash, availability under the company's unsecured
revolving credit facility and expected retained cash flows from
operating activities after dividends and distributions), divided
by uses of liquidity (pro rata debt maturities, expected recurring
capital expenditures and in-process development expenditure) for
July 1, 2011 to Dec. 31, 2012 result in a liquidity coverage ratio
of 3.5x. Liquidity coverage for July 1, 2011 to Dec. 31, 2013 is
2.4x. Assuming the line of credit capacity is reduced by 25% upon
renewal in 2012, liquidity coverage would be 2.7x through 2012 and
1.9x through 2013, which would still be strong for the current
rating category. Furthermore, the company's debt maturity schedule
is well laddered with no more than 20% of debt maturing annually
for the next five years.

Over the past few years, Colonial has curtailed its development
pipeline, thus reducing overall risk to bondholders. Construction-
in-progress and land held for development represented 8.5% of
total assets as of June 30, 2011, compared with 8.3% and 7.5% as
of Dec. 31, 2010 and Dec. 31, 2009, respectively, and down from a
peak of 16.5% as of Dec. 31, 2007. Moreover, the amount remaining
to be spent on active development projects was just $61.1 million,
or 1.9% of total assets at June 30, 2011, compared to a high of
$573.1 million, or 12.9% of total assets at Dec. 31, 2006.

The company's fixed charge coverage ratio (defined as recurring
operating EBITDA including Fitch's estimate of recurring cash
distributions from partially-owned entities less recurring capital
expenditures less straight line rent adjustments, divided by
interest expense, capitalized interest and preferred dividends)
was 1.6x for the trailing 12 months ended June 30, 2011, an
improvement from 1.5x and 1.4x in 2010 and 2009, respectively.
Recent positive momentum continues, as fixed charge coverage was
2.0x in 2Q'11.  Fitch projects fixed charge coverage will sustain
above 2.0x over the next 12-to-24 months, which would be
appropriate for a higher IDR.  In a more adverse case than
anticipated by Fitch, fixed charge coverage could decline to below
1.5x, which is more consistent with a rating of 'BB+'.

The company's incurrence of secured debt has rendered bondholders
more structurally subordinated. The company accessed the GSE
market during the financial crisis of 2008-2010 and as such,
secured debt as a percent of total debt has risen to a level of
40.8% as of June 30, 2011, up from just 5.9% at Dec. 31, 2008.
That being said, neither the company's secured debt covenant nor
other covenants in Colonial's credit agreements limit its
financial flexibility.

Likewise, the unencumbered pool has decreased in size and provided
less contingent liquidity. Applying a 7.5% capitalization rate to
2Q'11 annualized unencumbered NOI, unencumbered assets divided by
unsecured debt results in a ratio of 1.8x, which is adequate for
the 'BB+' rating.

Separately, many of the markets in the Sunbelt region in which
Colonial is focused have limited supply constraints and barriers
to entry that have led to cycles of overbuilding.

As part of its ongoing strategy, Colonial seeks to dispose of
additional commercial assets to reduce its overall exposure to 10%
of assets from approximately 20%.  In addition, the company seeks
to sell older multifamily assets and reinvest the proceeds into
newer assets with lower recurring capital needs and better growth
profiles.  The result of both of these portfolio recycling
strategies is the sales of assets with higher cash flow yields and
the reinvestment into lower yielding assets, which is dilutive in
the near term.

The two-notch differential between Colonial's IDR and the rating
on its $50 million 7.25% series B cumulative redeemable perpetual
preferred units is consistent with Fitch's criteria for corporate
entities with an IDR of 'BB+'.  Based on Fitch's criteria report,
'Rating Hybrid Securities', dated Dec. 29, 2009, these preferred
units are deeply subordinated and have loss absorption elements
that would likely result in poor recoveries in the event of a
corporate default.

The following factors may result in an upgrade of the IDR to 'BBB-
':

  -- If the company's fixed-charge coverage ratio sustains above
     2.0x (for the 12 months ended June 30, 2011, fixed-charge
     coverage was 1.6x);

  -- If the company's leverage ratio sustains below 8.25x (as of
     June 30, 2011, the company's leverage, defined as net debt to
     recurring operating EBITDA, was 8.8x on a LTM basis, but 8.2x
     based on annualized 2Q'11 EBITDA);

  -- More geographical diversification across the multifamily
     portfolio into markets with above-average NOI growth
     characteristics.

The following factors may result in negative momentum on the
ratings and/or Rating Outlook:

  -- If the company's fixed-charge coverage ratio sustains below
     1.5x;

  -- If the company's leverage ratio sustains above 9.0x;

  -- A sustained liquidity coverage ratio below 1.0x.


COLONIAL REALTY: Fitch Affirms 'BB+' Rating on Unsec. Facilities
----------------------------------------------------------------
Fitch Ratings has affirmed the following credit ratings of
Colonial Properties Trust and its operating partnership, Colonial
Realty Limited Partnership (collectively, Colonial, or the
company):

Colonial Properties Trust

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

Colonial Realty Limited Partnership

  -- IDR at 'BB+';
  -- Unsecured revolving credit facilities at 'BB+';
  -- Senior unsecured notes at 'BB+';
  -- Preferred operating partnership units at 'BB-'.

The Rating Outlook has been revised to Positive from Stable.

The revision of Colonial's Rating Outlook to Positive from Stable
reflects healthy fundamentals across Colonial's multifamily
portfolio that are expected to continue their positive trajectory
over the near term and materially improve the company's leverage
and coverage metrics.  The Positive Outlook also takes into
account CLP's strong liquidity position, manageable debt maturity
schedule, and reduced development risk.

While Fitch anticipates upward rating momentum over the next 12-
to-24 months, the company's leverage and coverage are currently
more consistent with a 'BB+' rating.  In addition, the company has
moderate levels of secured debt and an unencumbered asset coverage
of unsecured debt ratio that indicates somewhat limited contingent
liquidity.  The rating takes into account Colonial's focus on
markets with lower barriers to entry.

Net debt-to-recurring operating EBITDA (including cash
distributions from partially-owned entities) for the 12 months
ended June 30, 2011 was 8.8 times (x), down from 9.3x and 9.4x as
of Dec. 31, 2010 and Dec. 31, 2009, respectively.  Leverage when
measured by annualizing second quarter 2011 (2Q'11) EBITDA was
8.2x, and Fitch projects that leverage will fall to below 8.0x
over the next 12-to-24 months as fundamentals continue to improve,
which would be appropriate for a higher IDR.  The repurchase and
retirement of unsecured debt, largely with proceeds from the
company's at-the-market equity offering program, and increasing
same store net operating income have reduced leverage.  In a more
adverse case than anticipated by Fitch, leverage could rise above
10x over the next 12-to-24 months, which would result in a
downgrade to 'BB'.

The company is also well capitalized at a 'BB' rating category
stress level, with a risk adjusted capitalization of 1.4x as of
June 30, 2011, and is also adequately capitalized at a 'BBB'
rating category stress level with a risk-adjusted capitalization
of 1.1x as of June 30, 2011.

In general, multifamily fundamentals in CLP's markets are
experiencing a positive inflection point. CLP's same store net
operating income (SSNOI) grew 7.5% in 2Q'11, 5.7% in 1Q'11, and
3.5% in 4Q'10, after seven quarters of SSNOI declines.
Furthermore, occupancy is strong at 96.2%, compared with 95.9% at
Dec. 31, 2010 and 94.7% at Dec. 31, 2009.  The company is
currently experiencing rent growth on renewals and new leases over
5.0%, which will drive solid growth over the next 12 months.
Fitch anticipates that fundamentals will continue to improve from
current levels due to moderate job growth, limited new supply, and
favorable demographics across the Sunbelt region.

Colonial's liquidity position is strong. Sources of liquidity
(unrestricted cash, availability under the company's unsecured
revolving credit facility and expected retained cash flows from
operating activities after dividends and distributions), divided
by uses of liquidity (pro rata debt maturities, expected recurring
capital expenditures and in-process development expenditure) for
July 1, 2011 to Dec. 31, 2012 result in a liquidity coverage ratio
of 3.5x. Liquidity coverage for July 1, 2011 to Dec. 31, 2013 is
2.4x. Assuming the line of credit capacity is reduced by 25% upon
renewal in 2012, liquidity coverage would be 2.7x through 2012 and
1.9x through 2013, which would still be strong for the current
rating category. Furthermore, the company's debt maturity schedule
is well laddered with no more than 20% of debt maturing annually
for the next five years.

Over the past few years, Colonial has curtailed its development
pipeline, thus reducing overall risk to bondholders. Construction-
in-progress and land held for development represented 8.5% of
total assets as of June 30, 2011, compared with 8.3% and 7.5% as
of Dec. 31, 2010 and Dec. 31, 2009, respectively, and down from a
peak of 16.5% as of Dec. 31, 2007. Moreover, the amount remaining
to be spent on active development projects was just $61.1 million,
or 1.9% of total assets at June 30, 2011, compared to a high of
$573.1 million, or 12.9% of total assets at Dec. 31, 2006.

The company's fixed charge coverage ratio (defined as recurring
operating EBITDA including Fitch's estimate of recurring cash
distributions from partially-owned entities less recurring capital
expenditures less straight line rent adjustments, divided by
interest expense, capitalized interest and preferred dividends)
was 1.6x for the trailing 12 months ended June 30, 2011, an
improvement from 1.5x and 1.4x in 2010 and 2009, respectively.
Recent positive momentum continues, as fixed charge coverage was
2.0x in 2Q'11.  Fitch projects fixed charge coverage will sustain
above 2.0x over the next 12-to-24 months, which would be
appropriate for a higher IDR.  In a more adverse case than
anticipated by Fitch, fixed charge coverage could decline to below
1.5x, which is more consistent with a rating of 'BB+'.

The company's incurrence of secured debt has rendered bondholders
more structurally subordinated. The company accessed the GSE
market during the financial crisis of 2008-2010 and as such,
secured debt as a percent of total debt has risen to a level of
40.8% as of June 30, 2011, up from just 5.9% at Dec. 31, 2008.
That being said, neither the company's secured debt covenant nor
other covenants in Colonial's credit agreements limit its
financial flexibility.

Likewise, the unencumbered pool has decreased in size and provided
less contingent liquidity. Applying a 7.5% capitalization rate to
2Q'11 annualized unencumbered NOI, unencumbered assets divided by
unsecured debt results in a ratio of 1.8x, which is adequate for
the 'BB+' rating.

Separately, many of the markets in the Sunbelt region in which
Colonial is focused have limited supply constraints and barriers
to entry that have led to cycles of overbuilding.

As part of its ongoing strategy, Colonial seeks to dispose of
additional commercial assets to reduce its overall exposure to 10%
of assets from approximately 20%.  In addition, the company seeks
to sell older multifamily assets and reinvest the proceeds into
newer assets with lower recurring capital needs and better growth
profiles.  The result of both of these portfolio recycling
strategies is the sales of assets with higher cash flow yields and
the reinvestment into lower yielding assets, which is dilutive in
the near term.

The two-notch differential between Colonial's IDR and the rating
on its $50 million 7.25% series B cumulative redeemable perpetual
preferred units is consistent with Fitch's criteria for corporate
entities with an IDR of 'BB+'.  Based on Fitch's criteria report,
'Rating Hybrid Securities', dated Dec. 29, 2009, these preferred
units are deeply subordinated and have loss absorption elements
that would likely result in poor recoveries in the event of a
corporate default.

The following factors may result in an upgrade of the IDR to 'BBB-
':

  -- If the company's fixed-charge coverage ratio sustains above
     2.0x (for the 12 months ended June 30, 2011, fixed-charge
     coverage was 1.6x);

  -- If the company's leverage ratio sustains below 8.25x (as of
     June 30, 2011, the company's leverage, defined as net debt to
     recurring operating EBITDA, was 8.8x on a LTM basis, but 8.2x
     based on annualized 2Q'11 EBITDA);

  -- More geographical diversification across the multifamily
     portfolio into markets with above-average NOI growth
     characteristics.

The following factors may result in negative momentum on the
ratings and/or Rating Outlook:

  -- If the company's fixed-charge coverage ratio sustains below
     1.5x;

  -- If the company's leverage ratio sustains above 9.0x;

  -- A sustained liquidity coverage ratio below 1.0x.


COMPOSITE TECHNOLOGY: Adds Two Members to Creditors Committee
-------------------------------------------------------------
Frank Cardigan, United States Trustee for Region 16, under 11
U.S.C. Sec. 1102(a) and (b), added two members to serve on the
Official Committee of Unsecured Creditors of Composite Technology
Corporation.

The amended list of members adds Compass Power Solutions and One
LLP to the Committee.

The Creditors Committee members are now:

      1. Jones Day
         ATTN: Richard Wynne
         555 South Flower St., 50th Floor
         Los Angeles, CA 90071
         Tel: (213) 243-2548
         Fax: (213) 243-2539

      2. Burndy, LLC
         ATTN: Kevin P. Ryan
         47 E. Industrial park Dr.
         Manchester, NH 03109
         Tel: (603) 647-5165
         Fax: (800) 246-9826

      3. CNH, LLC
         ATTN: Alfonso Cordero
         PO Box 14062
         Irvine, CA 92623
         Tel: (949) 553-0006
         Fax: (949) 553-0021

      4. Lamifil N.V. Frederic Sheidlaan
         ATTN: Didier Leclercq
         B-2620 Herniskem, Belgium
         Tel: (32) 474-949438
         Fax: (32) 038-878059

      5. Toray Carbon Fibers America, Inc.
         ATTN: Greg Clemons
         PO Box 248
         Decatur, AL 35602
         Tel: (256) 260-1004
         Fax: (256) 260-2627

      6. Compass Power Solutions
         ATTN: David Borrie
         26 Spenser Crescent
         Carnoustie, Angus, Scotland
         Tel: (44) 1241-854-093
         Fax: (44) 1241-854-093

      7. One LLP
         Intellectual Property & Entertainment Law
         ATTN: Nathan L. Dilger
         4000 MacArthur Blvd.
         West Tower, #1100
         Tel: (949) 502-2870
         Fax: (949) 258-5081

                     About Composite Technology

Headquartered in Irvine, California, Composite Technology
Corporation -- http://www.compositetechcorp.com-- develops,
produces, and markets energy efficient and renewable energy
products for the electrical utility industry.  During the fiscal
year ended Sept. 30, 2010, the Company operated with one operating
segment, the cable segment operated as CTC Cable Corporation.  The
CTC Cable segment sells ACCC conductor, a composite core, high
capacity, energy efficient overhead conductor for transmission and
distribution lines, and manufactures and sells ACCC core, the
composite core component of the conductor, along with hardware
connector accessories specifically designed for ACCC applications.
It sells ACCC products directly to customers and through various
distribution agreements both internationally and in North America.
As of Sept. 30, 2010, CTC Cable had over 9,500 kilometers of ACCC
conductor installed.

Composite Technology filed for Chapter 11 bankruptcy (Bankr. C.D.
Calif. Case No. 11-15058) on April 10, 2011, with Judge Mark S.
Wallace presiding over the case.  The Debtor's bankruptcy case was
reassigned to Judge Scott C. Clarkson on April 13, 2011.  The
Debtor estimated assets at $10 million to $50 million and
$1 million to $10 million in debts as of the Chapter 11 filing.

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

The cases are jointly administered, with Composite Technology as
the lead case.  Paul J. Couchot, Esq., at Winthrop Couchot PC,
serves as the Debtors' bankruptcy counsel.  The McIntosh Group and
Marsch Fischman & Breyfogle LLP serve as special intellectual
property counsel.

Robbin L. Itkin, Esq., and Katherine C. Piper, Esq., at Steptoe &
Johnson LLP, serve as counsel to the Official Committee of
Unsecured Creditors.


CORNERSTONE BANCSHARES: Reports $141,287 Net Income in Q2
---------------------------------------------------------
Cornerstone Bancshares, Inc., reported net income of $141,287 on
$5.16 million of total interest income for the three months ended
June 30, 2011, compared with net income of $18,145 on
$6.73 million of total interest income for the same period during
the prior year.

The Company also reported net income of $393,562 on $10.37 million
of total interest income for the six months ended June 30, 2011,
compared with net income of $361,933 on $13.83 million of total
interest income for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed
$441.21 million in total assets, $412.35 million in total
liabilities, and $28.86 million in total stockholders' equity.

"The success of our capital campaign is proof that Chattanooga
believes in Cornerstone," said Cornerstone President Frank Hughes.
"Today's investment environment is difficult, which makes the
capital raise that much more exciting and a true testament to the
faith our community has in Cornerstone."

A full-text copy of the press release announcing the financial
results is available for free at http://is.gd/t9lugH

                   About Cornerstone Bancshares

Chattanooga, Tenn.-based Cornerstone Bancshares, Inc. is a bank
holding company.  Its wholly-owned subsidiary, Cornerstone
Community Bank, is a Tennessee-chartered commercial bank with five
full-service banking offices located in Hamilton County,
Tennessee.

The Company reported a net loss of $4.71 million on $25.21 million
of total interest income for the year ended Dec. 31, 2010,
compared with a net loss of $8.17 million on $26.31 million of
total interest income during the prior year.

                          Consent Order

The Company disclosed in 10-Q for the quarter ended June 30, 2010,
that following the issuance of a written report by the Federal
Deposit Insurance Corporation and the Tennessee Department of
Financial Institutions concerning their joint examination of
Cornerstone Community Bank in October 2009, the Bank entered a
consent order with the FDIC on April 2, 2010, and a written
agreement with the TDFI on April 8, 2010, each concerning areas of
the Bank's operations identified in the report as warranting
improvement and presenting substantially similar plans for making
those improvements.

The consent order and written agreement, which the Company
collectively refers to as the "Action Plans", convey specific
actions needed to address certain findings from the joint
examination and to address the Company's current financial
condition.  The Action Plans contain a list of strict requirements
ranging from a capital directive, which requires the Company to
achieve and maintain minimum regulatory capital levels in excess
of the statutory minimums to be well-capitalized, to developing a
liquidity risk management and contingency funding plan, in
connection with which the Company will be subject to limitations
on the maximum interest rates it  can pay on deposit accounts.
The Action Plans also contain restrictions on future extensions of
credit and requires the development of various programs and
procedures to improve the Company's asset quality as well as
routine reporting on its  progress toward compliance with the
Action Plans to the Board of Directors, the FDIC and the TDFI.

As of April 2, 2010, the date of the Action Plans, the Bank was
deemed to be "adequately capitalized."


CORPORATE INVESTMENT: Voluntary Chapter 11 Case Summary
-------------------------------------------------------
Debtor: Corporate Investment Company
        P.O. Box 970926
        Orem, UT 84097

Bankruptcy Case No.: 11-31601

Chapter 11 Petition Date: August 8, 2011

Court: U.S. Bankruptcy Court
       District of Utah (Salt Lake City)

Judge: William T. Thurman

Debtor's Counsel: Robert Fugal, Esq.
                  BIRD & FUGAL
                  384 East 720 South, Suite 201
                  Orem, UT 84058
                  Tel: (801) 426-4700
                  E-mail: robfugal@birdfugal.com

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

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

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

The petition was signed by Keith Merrill Beckstead, owner.


CUMULUS MEDIA: Completes Purchase of Remaining Interests in CMP
---------------------------------------------------------------
Cumulus Media Inc. has completed the previously announced
acquisition of the remaining equity interests of Cumulus Media
Partners, LLC, that it did not already own.  CMP owns 32 radio
stations in nine markets, including San Francisco, Dallas,
Houston, Atlanta, Cincinnati, Indianapolis and Kansas City.
Cumulus has operated CMP's business pursuant to a management
agreement since CMP acquired the radio broadcasting business of
Susquehanna Pfaltzgraff Co.

In connection with the acquisition, Cumulus issued 9,945,714
shares of its common stock to affiliates of the three private
equity firms that had collectively owned 75% of CMP - Bain Capital
Partners, LLC, The Blackstone Group L.P. and Thomas H. Lee
Partners, L.P.  Blackstone received shares of Cumulus' Class A
common stock and, in accordance with Federal Communications
Commission broadcast ownership rules, Bain and THL each received
shares of a new authorized Class D non-voting common stock.
Cumulus has owned the remaining 25% of CMP's equity interests
since Cumulus, together with Bain, Blackstone and THL, formed CMP
in 2005.

Also in connection with the acquisition, currently outstanding
warrants to purchase common stock of a subsidiary of CMP were
amended to instead become exercisable for up to 8,267,968 shares
of common stock of Cumulus.

The acquisition of CMP was completed on Aug. 1, 2011, following
receipt of approval by Cumulus' stockholders at its annual meeting
of stockholders on Friday, July 29, 2011.

Cumulus' Chairman and CEO, Lew Dickey, commented: "We are pleased
to have completed this important step with our acquisition of CMP.
The combination of Cumulus and CMP is a strategic transaction that
simplifies our operational structure and positions us to complete
our pending transformational deal with Citadel Broadcasting.
Following the completion of the Citadel acquisition, we plan to
capitalize on the scale of the resulting pro forma platform of
approximately 570 stations in 120 markets, and a radio network
serving approximately 4000 station affiliates, to compete
aggressively with our content and distribution capabilities in
broadcast and new media.  We are also excited about the
opportunity to offer investors what we expect will be the largest
pure play radio company, with a large and liquid market
capitalization as well as a strong and flexible balance sheet that
is well-positioned for continued growth."

Cumulus currently expects that, subject to receiving final
regulatory approvals and approval by the stockholders of Citadel
Broadcasting Corporation, the Citadel acquisition will be
completed prior to the end of 2011.

In connection with completing the acquisition of Cumulus Media
Partners, Cumulus Media Inc. entered into a Registration Rights
Agreement, dated Aug. 1, 2011, with each of the CMP Sellers, each
of Banc of America Capital Investors SBIC, L.P., and BA Capital
Company, L.P., and each of Lewis W. Dickey, Jr., the Company's
Chairman, President and Chief Executive Officer, John W. Dickey,
the Company's Executive Vice President and Co-Chief Operating
Officer, their brothers David W. Dickey and Michael W. Dickey,
their father, Lewis W. Dickey, Sr., and an affiliated entity,
DBBC, LLC.  Pursuant to the 2011 Registration Agreement, the
Company has agreed to prepare and file with the Securities and
Exchange Commission a registration statement that will cover the
resale, on a continuous basis, of all of the shares of the
Company's Class A common stock issued to the CMP Sellers in
connection with the CMP Acquisition or upon conversion of shares
of the Company's Class D common stock issued in the CMP
Acquisition or upon exercise of the Restated Warrants.  A full-
text copy of the Registration Rights Agreement is available for
free at http://is.gd/czJnuK

                       Annual Meeting Results

On July 29, 2011, at the Company's 2011 annual meeting of
stockholders, the Company's stockholders, upon the recommendation
of the Company's Board of Directors, adopted an Amended and
Restated Certificate of Incorporation to, among other things,
increase the total number of shares of authorized capital stock
from 270,262,000 to 300,000,000, create a new class of non-voting
common stock designated as Class D common stock, and eliminate
certain governance and approval rights that were previously
applicable to the Company's existing non-voting Class B common
stock.

Also at the Annual Meeting, each of Lewis W. Dickey, Jr., Ralph B.
Everett, Eric P. Robison and David M. Tolley were reelected for a
one-year term as directors of the Company by the holders of the
Company's Class A Common Stock and Class C Common Stock, voting
together as a single class.

Pursuant to a voting agreement entered into in 1998 with the
holders of the Company's Class C Common Stock, Robert H. Sheridan
III was designated to serve as a director by one of the Company's
principal stockholders, BA Capital Company, L.P.

The stockholders also ratified the appointment of
PricewaterhouseCoopers LLP as the Company's independent registered
public accounting firm for 2011.

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

                        http://is.gd/2KAVKl

                        About Cumulus Media

Based in Atlanta, Georgia, Cumulus Media Inc. (NASDAQ: CMLS) --
http://www.cumulus.com/-- is the second largest radio broadcaster
in the United States based on station count, controlling 350 radio
stations in 68 U.S. media markets.  In combination with its
affiliate, Cumulus Media Partners, LLC, the Company believes it is
the fourth largest radio broadcast company in the United States
when based on net revenues.

The Company's balance sheet at March 31, 2011, showed
$318.87 million in total assets, $643.27 million in total
liabilities, and a $324.40 million total stockholders' deficit.

                           *     *     *

Standard & Poor's Ratings Services said April it raised its
corporate credit rating on Atlanta-based Cumulus Media Inc. to 'B'
from 'B-'.  "The rating remains on CreditWatch, where we placed it
with positive implications Feb. 18, 2011," S&P stated.

Moody's Investors Service in April upgraded Cumulus Media's
Corporate Family Rating to B1 from Caa1 due to the company's
pending acquisition of CMP Susquehanna Corp. in the second quarter
of 2011 followed by the announced $2.4 billion acquisition of
Citadel Broadcasting Corporation later this year.


CRYSTAL CATHEDRAL: Committee Files Sale-Based Exit Plan
-------------------------------------------------------
The Crystal Cathedral's Official Committee of Unsecured Creditors
filed a proposed bankruptcy exit plan for the church and an
explanatory disclosure statement.  The cathedral board can choose
the buyer in one option and in another, the creditors will choose
a buyer for the church.

A hearing is set for Sept. 14, 2011, at 11:30 a.m., to consider
the adequacy of the disclosure statement explaining the
Committee's exit plan.

The Plan contemplates the sale of the Debtor's real and personal
property assets.  Multiple parties have submitted written offers
to purchase the Crystal Cathedral Campus.  The Committee will
select the proposed buyer, advising the Court 15 days before the
confirmation hearing.  The Committee said it does not intent to
effectuate a sale of the campus by way of 11 U.S.C. Sec. 363 sale
subject to overbidding.

In addition, the Debtor has filed a request to approve the sale of
a condominium.  If the sale has not be consummated as of the
confirmation hearing, the plan agent will proceed to liquidate the
condominium, as well as the personal property assets.

                         Offers Hiked

Los Angeles Times reports that the Roman Catholic Diocese of
Orange increased its cash offer from $50 million to $53.6 million
and would require the Crystal Cathedral's ministry to leave the
property after three years.  But the diocese would attempt to help
it find a new space.

Los Angeles Times says Chapman University amended its original
offer of $46 million to $50 million.  In a letter dated Aug. 4,
2011, the school offered the ministry two individuals related to
Chapman with "extensive experience in business, financial and
operational strategy."

The report, citing court documents, says there is a new potential
buyer for the property but did not specify which party.  The
Crystal Cathedral announced 10 days ago that it no longer wanted
to solicit offers for the property and instead began a faith-based
effort, relying solely on donations.

The Committee is allowing the cathedral to choose a buyer, as long
as the purchase price is at least $50 million.  If the church does
not cooperate with the committee, a buyer could be chosen without
leasing and buyback options, and the ministry could have to find a
new home sooner than expected.

The disclosure statement mentioned two other proposals, one from
the arts and crafts retailer Hobby Lobby, and the other from
Norco-based My Father's House Church International, which the
committee singled out as an "inferior" offer.

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

                      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.


DAL-JONES INVESTMENTS: Case Summary & Creditors List
----------------------------------------------------
Debtor: Dal-Jones Investments, LLC
        P.O. Box 531
        Wrightsville Beach, NC 28480

Bankruptcy Case No.: 11-05971

Chapter 11 Petition Date: August 4, 2011

Court: U.S. Bankruptcy Court
       Eastern District of North Carolina (Wilson)

Judge: Stephani W. Humrickhouse

Debtor's Counsel: Dean R. Davis, Esq.
                  LAW OFFICE OF DEAN R. DAVIS
                  1508 Military Cutoff Road, Suite 102
                  Wilmington, NC 28403
                  Tel: (910) 256-6558
                  Fax: (910) 256-6538
                  E-mail: juliec@amdpllc.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/nceb11-05971.pdf

The petition was signed by R. Edward Mitchel, member-manager.


DANIEL L. HENDON: Case Summary & 2 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: The Daniel L. Hendon Family Trust
        15509 North Scottsdale Road
        Scottsdale, AZ 85254

Bankruptcy Case No.: 11-22658

Chapter 11 Petition Date: August 8, 2011

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

Judge: Sarah Sharer Curley

Debtor's Counsel: Mark J. Giunta, Esq.
                  LAW OFFICE OF MARK J. GIUNTA
                  1413 N 3rd St.
                  Phoenix, AZ 85004-1612
                  Tel: (602) 307-0837
                  Fax: (602) 307-0838
                  E-mail: mark.giunta@azbar.org

Scheduled Assets: $10

Scheduled Debts: $2,483,411

A list of the Company's two largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/azb11-22658.pdf

The petition was signed by Daniel L. Hendon, trustee.

Affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Danny's Happy Valley, LLC              10-02794   02/04/10
Danny's Raintree & Northsight, LLC     10-02796   02/04/10
Danny's Scottsdale & Shea, LLC         10-02799   02/04/10
Danny's 59th Avenue, LLC               10-02802   02/04/10
Danny's Crossroads, LLC                10-05580   03/03/10
Danny's Gilbert Gateway, LLC           10-05583   03/03/10
Danny's San Tan, LLC                   10-05585   03/03/10
Danny's Tempe, LLC                     10-05588   03/03/10
Danny's Family Companies, LLC          10-05792   03/04/10
Danny's Car Services, LLC              10-05793   03/04/10
Danny's Scottsdale & TB, LLC           10-05794   03/04/10
National Car Care Development Co.      10-05795   03/04/10
84th & Bell, LLC                       10-05796   03/04/10
3rd & Bell, LLC                        10-05797   03/04/10
Danny's Tatum, LLC                     10-05798   03/04/10
83rd & Union Hills, LLC                10-05799   03/04/10
Mayo & Scottsdale Family Car Wash      10-05800   03/04/10
Danny's Glass, LLC                     10-05801   03/04/10
Danny's Fuel, LLC                      10-05802   03/04/10
Paradise Village Car Care Centre Inc.  10-05805   03/04/10
Twentieth & Highland, LLC              10-05806   03/04/10
Danny's Commercial Properties, LLC     10-05772   03/04/10
Barcelona Restaurants III, LLC         10-05774   03/04/10
Barcelona Business Center, LLC         10-05775   03/04/10
Danny's Office, LLC                    10-05776   03/04/10
Daniel L. Hendon                       11-21164   07/25/11


DELTA AIR: Awaiting IRS's Guidance on Tax Refunds
-------------------------------------------------
Delta Air Lines (NYSE: DAL) announced early this month it will
process tax refunds for customers traveling during the suspension
of non-essential services of the Federal Aviation Administration.

Funding for the FAA expired on July 23.  At that time, Delta
stopped collecting several taxes imposed on ticket sales,
including a 7.5 percent tax on the base ticket price, a $3.70
segment tax and facilities taxes on international travel and
travel to and from Alaska and Hawaii.

The Internal Revenue Service (IRS) has advised that travelers who
paid for tickets on or before July 22, 2011, for travel beginning
on or after July 23 and prior to the reinstatement of FAA funding,
may be entitled to a refund of those taxes.

Delta is awaiting guidelines from the IRS on the process of
providing refunds.  However, in order to streamline the process,
the airline will process refunds directly for customers once an
agreement is reached with the IRS on the procedure for doing so.

Information on how to apply for a refund will be posted to
delta.com.

                      IRS Issues Guidance

On August 5, 2011, the IRS advised that, "As a result of the bill
Congress passed today, passengers who purchased tickets prior to
July 23 and traveled between July 23 and the date of enactment of
today's legislation are not entitled to a refund of the airline
ticket excise tax."

                       About Delta Air Lines

Atlanta, Georgia-based Delta Air Lines (NYSE: DAL) --
http://www.delta.com/or http://www.nwa.com/-- provides scheduled
air transportation for passengers and cargo throughout the United
States, and around the world.  The Company's route network is
centered on the hub system it operate at airports in Atlanta,
Cincinnati, Detroit, Memphis, Minneapolis/St. Paul, New York-JFK,
Salt Lake City, Paris-Charles de Gaulle, Amsterdam and Tokyo-
Narita. The hub operations include flights, which gather and
distribute traffic from markets in the geographic region
surrounding the hub to domestic and international cities and to
other hubs. The network is supported by a fleet of aircraft, which
is varied in terms of size and capabilities.  On Dec. 31,
2009, the Company's wholly owned subsidiary Northwest Airlines,
Inc., merged with and into Delta.  The wholly owned subsidiary of
the Company is Northwest Airlines Corporation.

Northwest and 12 affiliates filed for Chapter 11 protection on
Sept. 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17930).
On May 21, 2007, the Court confirmed the Northwest Debtors'
amended plan.  That amended plan took effect May 31, 2007.

Delta and 18 affiliates filed for Chapter 11 protection on
Sept. 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17923).
Marshall S. Huebner, Esq., at Davis Polk & Wardwell, represented
the Delta Debtors in their restructuring efforts. On April 25,
2007, the Court confirmed the Delta Debtors' plan.  That plan
became effective on April 30, 2007.

(Bankruptcy Creditors Service Inc. publishes Delta Air Lines
Bankruptcy News, http://bankrupt.com/newsstand/or 215/945-7000).

                        *     *     *

Delta Air Lines and Northwest Airlines carry a 'B/Stable/--'
corporate ratings from Standard & Poor's.  They also continue to
carry 'B2' corporate family ratings from Moody's and "B-" LT
Issuer Default rating from Fitch.

S&P said at the end of February 2011 that its ratings on Atlanta,
Ga.-based Delta Air Lines Inc. reflect its highly leveraged
financial profile, with significant intermediate-term debt
maturities, and the risks associated with participation in the
price-competitive, cyclical, and capital-intensive airline
industry.  The ratings also incorporate the reduced debt load and
operating costs Delta achieved while in Chapter 11 in 2005-2007,
and its enhanced competitive position and synergistic
opportunities associated with its 2008 merger with Northwest
Airlines Corp. (parent of Northwest Airlines Inc.), with the two
airlines fully integrated in December 2009.  S&P characterize
Delta's business risk profile as weak and its financial risk
profile as highly leveraged.


DELTA AIR: Welcomes US Air Flying Rights Transfer Approval
----------------------------------------------------------
Delta Air Lines and US Airways said last month they welcome the
decision by the Department of Transportation to tentatively
approve the proposed slot transaction at New York-LaGuardia and
Washington-Reagan National airports.  Upon final approval we
intend to move forward with the plan, as conditioned by the
department, which will enhance competition and allow the airlines
to improve service, consumer choice, modernize facilities and
create jobs at both airports."

On May 23, Delta and US Airways announced a new agreement to
transfer takeoff and landing rights at New York's LaGuardia and
Washington D.C.'s Reagan National airports, which will enable
Delta and US Airways to expand service and increase competition
at two of the nation's key cities, and provide the opportunity
for additional access to LaGuardia and Reagan National for new
entrants and airlines with a limited presence at the airports.

Under the agreement, Delta would acquire 132 slot pairs at
LaGuardia from US Airways and US Airways would acquire from Delta
42 slot pairs at Reagan National and the rights to operate
additional daily service to Sao Paulo, Brazil in 2015, and Delta
would pay US Airways $66.5 million in cash.  In addition, the
airlines will divest 16 slot pairs at LaGuardia and eight slot
pairs at Reagan National to airlines with limited or no service
at those airports.  The completion of the transaction is subject
to certain closing conditions, including government and
regulatory approvals.  A slot pair is the authority to operate
one takeoff and one landing.

                        About US Airways

US Airways, along with US Airways Shuttle and US Airways Express,
operates more than 3,200 flights per day and serves more than 200
communities in the U.S., Canada, Mexico, Europe, the Middle East,
the Caribbean, Central and South America.  The airline employs
32,000 aviation professionals worldwide and is a member of the
Star Alliance network, which offers its customers 21,000 daily
flights to 1,160 airports in 181 countries.  Together with its US
Airways Express partners, the airline serves approximately 80
million passengers each year and operates hubs in Charlotte, N.C.,
Philadelphia and Phoenix, and a focus city in Washington, D.C., at
Ronald Reagan Washington National Airport.  US Airways was the
only airline included as one of the 50 best companies to work for
in the U.S. by LATINA Style magazine's 50 Report for 2010.  For
the sixth year in a row, the airline also earned a 100 percent
rating on the Human Rights Campaign Corporate Equality index, a
leading indicator of companies' attitudes and policies toward
lesbian, gay, bisexual and transgender employees and customers.
For more company information, visit usairways.com. (LCCG)

                       About Delta Air Lines

Atlanta, Georgia-based Delta Air Lines (NYSE: DAL) --
http://www.delta.com/or http://www.nwa.com/-- provides scheduled
air transportation for passengers and cargo throughout the United
States, and around the world.  The Company's route network is
centered on the hub system it operate at airports in Atlanta,
Cincinnati, Detroit, Memphis, Minneapolis/St. Paul, New York-JFK,
Salt Lake City, Paris-Charles de Gaulle, Amsterdam and Tokyo-
Narita. The hub operations include flights, which gather and
distribute traffic from markets in the geographic region
surrounding the hub to domestic and international cities and to
other hubs. The network is supported by a fleet of aircraft, which
is varied in terms of size and capabilities.  On Dec. 31,
2009, the Company's wholly owned subsidiary Northwest Airlines,
Inc., merged with and into Delta.  The wholly owned subsidiary of
the Company is Northwest Airlines Corporation.

Northwest and 12 affiliates filed for Chapter 11 protection on
Sept. 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17930).
On May 21, 2007, the Court confirmed the Northwest Debtors'
amended plan.  That amended plan took effect May 31, 2007.

Delta and 18 affiliates filed for Chapter 11 protection on
Sept. 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17923).
Marshall S. Huebner, Esq., at Davis Polk & Wardwell, represented
the Delta Debtors in their restructuring efforts. On April 25,
2007, the Court confirmed the Delta Debtors' plan.  That plan
became effective on April 30, 2007.

(Bankruptcy Creditors Service Inc. publishes Delta Air Lines
Bankruptcy News, http://bankrupt.com/newsstand/or 215/945-7000).

                        *     *     *

Delta Air Lines and Northwest Airlines carry a 'B/Stable/--'
corporate ratings from Standard & Poor's.  They also continue to
carry 'B2' corporate family ratings from Moody's and "B-" LT
Issuer Default rating from Fitch.

S&P said at the end of February 2011 that its ratings on Atlanta,
Ga.-based Delta Air Lines Inc. reflect its highly leveraged
financial profile, with significant intermediate-term debt
maturities, and the risks associated with participation in the
price-competitive, cyclical, and capital-intensive airline
industry.  The ratings also incorporate the reduced debt load and
operating costs Delta achieved while in Chapter 11 in 2005-2007,
and its enhanced competitive position and synergistic
opportunities associated with its 2008 merger with Northwest
Airlines Corp. (parent of Northwest Airlines Inc.), with the two
airlines fully integrated in December 2009.  S&P characterize
Delta's business risk profile as weak and its financial risk
profile as highly leveraged.


DELTA AIR: Former Atlanta Mayor Named to Board
----------------------------------------------
Delta Air Lines' board of directors announced Shirley Franklin,
former Mayor of Atlanta, as its newest member, effective
immediately.

"Throughout her distinguished career, Shirley has demonstrated
great leadership and tremendous knowledge of the region and the
nation's economy," said Daniel A. Carp, Delta's non-executive
chairman of the board.  "We look forward to adding her business
experience, financial expertise and leadership abilities to the
depth and range of Delta's already strong and independent board of
directors."

Ms. Franklin served as Mayor of Atlanta for two terms, from 2002
to 2010.  In 2005, TIME Magazine named Ms. Franklin one of the
five best big-city mayors in America, and U.S. News & World Report
listed her among its "Best Leaders 2005."  Ms. Franklin received
the 2005 Profile in Courage award from the John F. Kennedy Library
Foundation for her leadership in restoring fiscal stability and
ethical government to Atlanta.  Prior to being elected Mayor of
Atlanta, Ms. Franklin served the city in several executive
positions, culminating in her service as the City's Chief Officer
of Operations.

Ms. Franklin is chair of the board and chief executive officer of
Purpose Built Communities, Inc., a national non-profit
organization established to transform struggling neighborhoods
into sustainable communities.  She is a director of Mueller Water
Products, Inc. and the United Nations Institute for Training and
Research as well as co-chair of the Atlanta Regional Commission
on Homelessness and co-chair of the board of directors of the
National Center for Civil and Human Rights.  Ms. Franklin served
on a special task force for the Department of Homeland Security,
and held the William and Camille Cosby Endowed Chair at Spelman
College in Atlanta.

Ms. Franklin holds a bachelor's degree in sociology from Howard
University and master's degree in sociology from the University of
Pennsylvania.


                       About Delta Air Lines

Atlanta, Georgia-based Delta Air Lines (NYSE: DAL) --
http://www.delta.com/or http://www.nwa.com/-- provides scheduled
air transportation for passengers and cargo throughout the United
States, and around the world.  The Company's route network is
centered on the hub system it operate at airports in Atlanta,
Cincinnati, Detroit, Memphis, Minneapolis/St. Paul, New York-JFK,
Salt Lake City, Paris-Charles de Gaulle, Amsterdam and Tokyo-
Narita. The hub operations include flights, which gather and
distribute traffic from markets in the geographic region
surrounding the hub to domestic and international cities and to
other hubs. The network is supported by a fleet of aircraft, which
is varied in terms of size and capabilities.  On Dec. 31,
2009, the Company's wholly owned subsidiary Northwest Airlines,
Inc., merged with and into Delta.  The wholly owned subsidiary of
the Company is Northwest Airlines Corporation.

Northwest and 12 affiliates filed for Chapter 11 protection on
Sept. 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17930).
On May 21, 2007, the Court confirmed the Northwest Debtors'
amended plan.  That amended plan took effect May 31, 2007.

Delta and 18 affiliates filed for Chapter 11 protection on
Sept. 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17923).
Marshall S. Huebner, Esq., at Davis Polk & Wardwell, represented
the Delta Debtors in their restructuring efforts. On April 25,
2007, the Court confirmed the Delta Debtors' plan.  That plan
became effective on April 30, 2007.

(Bankruptcy Creditors Service Inc. publishes Delta Air Lines
Bankruptcy News, http://bankrupt.com/newsstand/or 215/945-7000).

                        *     *     *

Delta Air Lines and Northwest Airlines carry a 'B/Stable/--'
corporate ratings from Standard & Poor's.  They also continue to
carry 'B2' corporate family ratings from Moody's and "B-" LT
Issuer Default rating from Fitch.

S&P said at the end of February 2011 that its ratings on Atlanta,
Ga.-based Delta Air Lines Inc. reflect its highly leveraged
financial profile, with significant intermediate-term debt
maturities, and the risks associated with participation in the
price-competitive, cyclical, and capital-intensive airline
industry.  The ratings also incorporate the reduced debt load and
operating costs Delta achieved while in Chapter 11 in 2005-2007,
and its enhanced competitive position and synergistic
opportunities associated with its 2008 merger with Northwest
Airlines Corp. (parent of Northwest Airlines Inc.), with the two
airlines fully integrated in December 2009.  S&P characterize
Delta's business risk profile as weak and its financial risk
profile as highly leveraged.


E-DEBIT GLOBAL: Commences Review of Mobile Payments Marketplace
---------------------------------------------------------------
E-Debit Global Corporation commenced its review of the mobile
payments marketplace with Capital Six Limited its joint venture
with ebackup Inc.

Overview

"We are commencing our review of our opportunities related to the
mobile payments marketplace, particularly in the Canadian business
space," E-Debit Chief Executive Doug Mac Donald said in a joint
statement with ebackup Inc. President Rowland Perkins.

"We believe experience gained through the Canadian introduction
and roll out of EMV (the payment and security standard for
interoperation used for authenticating credit and debit card
payments at chip enabled terminals developed for payment systems
by Europay, MasterCard and Visa and introduced by the Interac
Network) combined with MapleTel's international Telco
infrastructure and software expertise holds great opportunity for
virtual terminal development which allows transactions processing
using any mobile phone, tablet or any type of device with an
Internet connection," they added.

"I am looking forward to working with E-Debit and ebackup in
bringing a mobile payments solution to the Canadian marketplace
which today is virtually nonexistent due to dealing with the
complex nature of EMV and PIN verification," stated John Kok,
President of MapleTel.

"Combining E-Debits "processing Switch", ebackup's "Cloud" based
PCI compliant data centre, technical and back up support and our
Telco and software experience, the potential for success within
the Canadian e-commerce business segment is very significant,"
Mr. Kok stated.

                 About E-Debit Global Corporation

E-Debit Global Corporation (WSHE) is a financial holding company
in Canada at the forefront of debit, credit and online computer
banking.  Currently, the Company has established a strong presence
in the privately owned Canadian banking sector including Automated
Banking Machines (ABM), Point of Sale Machines (POS), Online
Computer Banking (OCB) and E-Commerce Transaction security and
payment.  E-Debit maintains and services a national ABM network
across Canada and is a full participating member of the Canadian
INTERAC Banking System.

The Company reported a net loss of $1.15 million on $3.97 million
of total revenue for the year ended Dec. 31, 2010, compared with a
net loss of $1.28 million on $3.64 million of revenue during the
prior year.

                           Going Concern

The Company has incurred net losses for the three months ended
March 31, 2011, and 2010, and as of March 31, 2011, had a working
capital deficit of $1,429,007 and an accumulated deficit of
$400,956.  These conditions raise substantial doubt as to the
Company's ability to continue as a going concern.

As reported by the TCR on April 15, 2011, Cordovano and Honeck
LLP, in Englewood, Colorado, 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, has a working capital
deficit at Dec. 31, 2010, and has an accumulated deficit of
$4,457,079 as of Dec. 31, 2010.

The Company's balance sheet at March 31, 2011, showed $1.67
million in total assets, $2.07 million in total liabilities and a
$400,956 total stockholders' deficit.


EAGLE BULK: Posts $1.4 Million Net Loss in 2nd Quarter
------------------------------------------------------
Eagle Bulk Shipping Inc. filed its quarterly report on Form 10-Q,
reporting a net loss of $1.4 million on $76.4 million of revenues
for the three months ended June 30, 2011, compared with net income
of $11.0 million on $65.6 million of revenues for the same period
last year.

The Company reported a net loss of $7.2 million on $163.1 million
of revenues for the six months ended June 30, 2011, compared with
net income of $15.6 million on $119.9 million of revenues for the
same period of 2010.

The Company's balance sheet at June 30, 2011, showed
$1.897 billion in total assets, $1.226 billion in total
liabilities, and stockholders' equity of $671.0 million.

            Disagreement with Lender on Interpretation
            of Facility Agreement's Net Worth Covenant

On Aug. 4, 2009, the Company entered into a third Amendatory
Agreement to its revolving credit facility dated Oct. 19, 2007.
Among other things, the third amendatory agreement reduced the
facility to $1.2 billion and changed the applicable interest rate
to 2.5% over LIBOR.  In addition, among other changes, the third
amendatory agreement amended the facility's net worth covenant
from a market value to book value measurement with respect to the
value of the Company's fleet and reduced the facility's EBITDA to
interest coverage ratio, with these changes to stay in effect
until the Company is in compliance with the facility's original
covenants for two consecutive accounting periods.

Based on information which the Company provided in 2010 to the
lenders under the revolving credit facility, the agent for the
lenders notified the Company that according to its interpretation
the Company was in compliance with the original covenants for the
second and third quarters during 2010, and, therefore, the
Company's original collateral covenants have been reinstated.

The Company disagrees with the interpretation of the original
covenant calculation being used by the agent and has advised the
agent that it is not in compliance with the original covenants for
these two consecutive quarters, and, therefore, the amended
collateral covenants should remain in place.

The Company believes that its interpretation of the facility
agreement's covenant calculation is correct, that the
reinstatement of the original loan covenant was not valid, and
that it remains in compliance with all covenants in effect at
June 30, 2011.

"We are in active discussions with the agent to resolve this
technical matter," the Company said in the filing.  "However, if
the agent's interpretation is determined to be correct, we would
not be in compliance with the original covenants for the periods
ending March 31, 2011, and June 30, 2011, which could lead to a
default under the facility agreement effective as of the
Compliance Certificate Date for that period and would result in
the classification as current of amounts due under the facility
agreement and could lead to substantial doubt about our ability to
continue as a going concern, if we are unable to agree on
satisfactory terms or obtain a waiver from the agent."

A copy of the Form 10-Q is available at http://is.gd/1lzMHS

Eagle Bulk Shipping Inc. is a Republic of the Marshall Islands
corporation headquartered in New York City.  It owns one of the
largest fleets of Supramax dry bulk vessels in the world.

The Company transports a broad range of major and minor bulk
cargoes, including iron ore, coal, grain, cement and fertilizer,
along worldwide shipping routes.  As of June 30, 2011, it owned
and operated a modern fleet of 41 Handymax segment dry bulk
vessels, 39 of which are of the Supramax class.  It also has an
on-going Supramax newbuilding program for the construction of 5
newbuilding vessels in China.  Upon delivery of all newbuilding
vessels which the Company expects to be completed by the end of
2011, the Company's total fleet will consist of 46 vessels with a
combined carrying capacity of approximately 2.51 million dwt.


EMERALD COAST: Case Summary & 3 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Emerald Coast Car Wash, LLC
        dba Quick and Clean of Northwest Florida
        22431 Panama City Beach Parkway
        Panama City Beach, FL 32413

Bankruptcy Case No.: 11-50421

Chapter 11 Petition Date: August 8, 2011

Court: United States Bankruptcy Court
       Northern District of Florida (Panama City)

Debtor's Counsel: Michael R. Reiter, Esq.
                  MIKE REITER & ASSOCIATES
                  P.O. Box 330
                  Lynn Haven, FL 32444
                  Tel: (850) 277-0777
                  Fax: (850) 277-0177
                  E-mail: mikelaw32444@yahoo.com

Scheduled Assets: $1,700,500

Scheduled Debts: $2,200,000

A list of the Company's three largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/flnb11-50421.pdf

The petition was signed by Lee Sage, president.


EVERGREEN PLAZA: Awaits Order to Use Cash Collateral for 3rd Qtr
----------------------------------------------------------------
The Bankruptcy Court was scheduled to consider the request of
Evergreen Plaza Investment-DE LLC to use cash collateral for the
months of July, August and September 2011, at a hearing set for
July 26.  Results of that hearing have not been posted on the case
docket as of press time.

The docket, however, showed an order signed by Judge Geraldine
Mund dated Aug. 9.  The order spelled out the Debtor's use of cash
collateral through July 28.  According to the Aug. 9 order, a
hearing took place July 15 to consider the Debtor's Emergency
Motion for Use of Cash Collateral.  M., Jonathan Hayes attended on
behalf of the Debtors and Bryce Suzuki, Bryan Cave LLP, attended
on behalf of secured creditor CSFB 2005-C1 Paseo Retail Limited
Partnership.  At the July 15 hearing, the parties advised the
court that they had agreed to use of cash collateral for the first
15 days of the case, as requested in the Debtors' Motion, and had
agreed also on the use of cash collateral by the Debtor for the
second 15 days ending July 28, 2011.

The Aug. 9 order directs the Debtor to deposit postpetition
revenues collected from the operations of its property in its
debtor in possession account.  Any secured creditor's liens and
security interests in funds constituting cash collateral will
continue notwithstanding the deposit of the funds in an approved
account.  The Aug. 9 order grants CSFB replacement liens on and
security interests in the Debtor's assets.  The order, however,
clarifies that nothing so far constitutes (i) a finding that
CSFB's interests in the Debtor's case are adequately protected; or
(ii) a determination of the validity, priority, or extent of any
lien or security interest claimed by the Lender against the
property or assets of the Debtor or the Debtor's estate.

According to papers filed by CSFB, Evergreen Plaza owed the Lender
in excess of $21 million.  CSFB said it holds a Promissory Note
made by, among others, Evergreen Plaza, in the principal amount of
$19 million dated as of Nov. 5, 2004, and secured by the Debtor's
assets.  The Debtor is in default under the loan.  Early in the
case, the Lender demanded sequestration of any rents, issues,
profits, proceeds and any other income derived from the
Collateral.

In its Motion, Evergreen Plaza said it must be authorized to use
Cash Collateral to pay ordinary and necessary operating expenses
of its real property in order to continue the operation of the
property, and avoid irreparable harm to the business.  Expenses
include utilities, insurance, landscaping, and management fees.

The Debtor proposed to pay CSFB an adequate protection payment
each month of $70,000 beginning on entry of a Cash Collateral
Order and continuing on the 5th day of each month thereafter.
According to the Debtor, the adequate protection amount is
computed based on $14 million at 6% annual interest.  The payment
will allow the Debtor to retain sufficient funds each month to be
able to pay the property tax payment of roughly $77,000 in
December 2011.

In its objection, CSFB said the Debtors have not carried their
burden of proving that the Lender is adequately protected. The
Debtors contend that Lender is adequately protected (i) through
the continuation of the Debtors' businesses, which is not a form
of adequate protection traditionally recognized under Bankruptcy
Code Sec. 361; (ii) and a periodic payment based on an arbitrary
non-default interest rate.

Attorneys for CSFB 2005-C1 Paseo Retail Limited Partnership are:

          H. Mark Mersel, Esq.
          Sheri Kanesaka, CBN 240053
          BRYAN CAVE LLP
          3161 Michelson Drive, Suite 1500
          Irvine, CA 92612
          Tel: (949) 223-7000
          Fax: (949) 223-7100
          E-mail: mark.mersel@bryancave.com
                  sheri.kanesaka@bryancave.com

            About Evergreen Plaza Investment-DE et al.

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

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

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

The Debtors value the real property at roughly $13 million.  Total
secured debt exceeds $17 million.  Each debtor-entity said its
case is a single asset case.


EVERGREEN PLAZA: Has Go-Signal to Hire Bankruptcy Counsel
---------------------------------------------------------
Evergreen Plaza Investment-DE, LLC; 15352 Vanowen Street
Apartments-DE, LLC; Normandie Court III-DE, LLC; and Westlake
Evergreen-DE, LLC, obtained authority to employ as General
Bankruptcy Counsel:

         M. Jonathan Hayes, Esq.
         Roksana D. Moradi, Esq.
         LAW OFFICES OF M. JONATHAN HAYES
         9700 Reseda Blvd., Suite 201
         Northridge, CA 91324
         Tel: (818) 882-5600
         Fax: (818) 882-5610
         E-mail: jhayes@hayesbklaw.com
                 roksana@hayesbklaw.com

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

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

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

The Debtors value the real property at roughly $13 million.  Total
secured debt exceeds $17 million.  Each debtor-entity said its
case is a single asset case.


EXIDE TECHNOLOGIES: Files 1st Quarter 2011 Summary Report
---------------------------------------------------------

                       Exide Technologies
           Post-Confirmation Quarterly Summary Report
               Unaudited Condensed Balance Sheets
                      As of March 31, 2011
                         (in thousands)

Assets
Current Assets:
Cash                                                     $53,359
Accounts receivables, net                                147,119
Intercompany receivables                                  14,139
Inventories                                              188,913
Prepaid expenses & other                                  71,821
                                                  --------------
Total current assets                                     475,352
                                                  --------------
Property, plant and equipment, net                        270,627
                                                  --------------
Other Assets:
Other intangibles, net                                    51,217
Investment in affiliates                                   1,375
Intercompany notes receivables                           205,103
Deferred financing costs and other                        74,944
                                                  --------------
TOTAL ASSETS                                           $1,078,619
                                                  ==============

Liabilities and Stockholders' Equity

Current Liabilities
Current maturities of long-term debt                        $280
Accounts payable                                         121,970
Accrued expenses                                          54,465
Accrued interest                                          11,018
Restructuring reserve                                      6,882
Liability for warrants                                        68
Warranty liability                                         9,869
                                                  --------------
Total current liabilities                                204,552

Long-term debt                                            735,227
Noncurrent retirement obligations                          66,298
Other noncurrent liabilities                               59,311
                                                  --------------
Total liabilities                                       1,065,387

Total stockholder's equity                                 13,232
                                                  --------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY             $1,078,619
                                                  ==============

                       Exide Technologies
           Post-Confirmation Quarterly Summary Report
                Unaudited Schedule of Cash Flows
                  Quarter Ended March 31, 2011
                         (in thousands)

Beginning Balance                                         $26,972

Cash Receipts:
Collection of accounts receivable                        401,161
Proceeds from equity issuance                                  -
Proceeds from sale of Debtor's assets                          -
Refinancing                                               74,256
All other cash receipts                                    6,730
                                                  --------------
Total Cash Receipts                                      482,147
                                                  --------------

Cash Disbursements:
Disbursements made under the Plan, excluding
payments to bankruptcy professionals                          -
Disbursements made to bankruptcy professionals               729
Repayment of Term Loans                                        -
All other disbursements made
in the ordinary course                                  455,032
                                                  --------------
Total Cash Disbursements                                  455,761
                                                  --------------
Ending Cash Balance                                       $53,359
                                                  ==============

                     About Exide Technologies

Headquartered in Princeton, New Jersey, Exide Technologies
(NASDAQ: XIDE) -- http://www.exide.com/-- manufactures and
distributes lead acid batteries and other related electrical
energy storage products.

The Company filed for Chapter 11 protection (Bankr. Del. Case No.
02-11125) on April 14, 2002.  Matthew N. Kleiman, Esq., and
Kirk A. Kennedy, Esq., at Kirkland & Ellis, and James E. O'Neill,
Esq., at Pachulski Stang Ziehl & Jones LLP represented the Debtors
in their successful restructuring.  The Court confirmed Exide's
Amended Joint Chapter 11 Plan on April 20, 2004.  The plan took
effect on May 5, 2004.  While it has emerged from Bankruptcy,
reorganized Exide is still resolving claims filed against it in
the Bankruptcy Court.

                           *     *     *

Reorganized Exide carries 'B' issuer credit ratings from Standard
& Poor's.  "The ratings on Exide Technologies reflect what we
consider to be the Company's aggressive financial risk profile,
which incorporates S&P's expectation that sales and profitability
will improve gradually as demand increases," said Standard &
Poor's credit analyst Nancy Messer.

Exide has 'B3' corporate family and probability of default ratings
from Moody's Investors Service.  In July 2008, Moody's upgraded
the rating to 'B3' from 'Caa1'.  Exide's B3 Corporate Family
Rating continues to incorporate the company's leveraged profile,
cyclical industry characteristics, and raw material pricing
pressure, Moody's said in January 2011.


EXIDE TECHNOLOGIES: Wants Until Oct. 31 to Object to Claims
-----------------------------------------------------------
Exide Technologies seeks approval from the U.S. Bankruptcy Court
for the District of Delaware to further extend its deadline for
filing objections to claims to October 31, 2011.

The deadline for the company to file its objections expired on
July 31, 2011.

The proposed extension will give Exide enough time to review and
resolve the 48 remaining claims, according to James O'Neill,
Esq., at Pachulski Stang Ziehl & Jones LLP, in Wilmington,
Delaware.

More than 6,100 proofs of claim aggregating $4.4 billion had been
filed against Exide.  These do not include about 1,100 proofs of
claim that were filed as unliquidated claims.

As of July 27, 2011, approximately 6,069 claims had been
resolved, reducing the total amount of outstanding claims by more
than $4.2 billion.  Exide has already completed 25 quarterly
distributions to creditors under its confirmed Joint Plan of
Reorganization, consisting of distributions on approximately
2,625 claims for about $1.74 billion.

Since July 28, 2010, Exide has reached a number of settlements,
has filed individual objections to claims, and has generally
made considerable advancements with respect to the remaining,
more complex claims, according to Mr. O'Neill.

The Court will hold a hearing on September 20, 2011, to consider
approval of the proposed extension.  Parties have until August 15
to file objections.

                     About Exide Technologies

Headquartered in Princeton, New Jersey, Exide Technologies
(NASDAQ: XIDE) -- http://www.exide.com/-- manufactures and
distributes lead acid batteries and other related electrical
energy storage products.

The Company filed for Chapter 11 protection (Bankr. Del. Case No.
02-11125) on April 14, 2002.  Matthew N. Kleiman, Esq., and
Kirk A. Kennedy, Esq., at Kirkland & Ellis, and James E. O'Neill,
Esq., at Pachulski Stang Ziehl & Jones LLP represented the Debtors
in their successful restructuring.  The Court confirmed Exide's
Amended Joint Chapter 11 Plan on April 20, 2004.  The plan took
effect on May 5, 2004.  While it has emerged from Bankruptcy,
reorganized Exide is still resolving claims filed against it in
the Bankruptcy Court.

                           *     *     *

Reorganized Exide carries 'B' issuer credit ratings from Standard
& Poor's.  "The ratings on Exide Technologies reflect what we
consider to be the Company's aggressive financial risk profile,
which incorporates S&P's expectation that sales and profitability
will improve gradually as demand increases," said Standard &
Poor's credit analyst Nancy Messer.

Exide has 'B3' corporate family and probability of default ratings
from Moody's Investors Service.  In July 2008, Moody's upgraded
the rating to 'B3' from 'Caa1'.  Exide's B3 Corporate Family
Rating continues to incorporate the company's leveraged profile,
cyclical industry characteristics, and raw material pricing
pressure, Moody's said in January 2011.


EXIDE TECHNOLOGIES: Has Settlement With SAPP Battery
----------------------------------------------------
Exide Technologies sought and obtained court approval of an
agreement to settle the claims of Sapp Battery Site Group against
the company.

The claims, which include Claim Nos. 2856, 2864, 4735, 4737, 5246
and 5248, are on account of the environmental remediation costs
incurred with respect to the Sapp site in Florida.

Under the deal, Sapp Battery will receive an allowed non-
priority, general unsecured Class P4-A claim for $2.4 million to
be distributed in stock in accordance with the terms of Exide's
confirmed restructuring plan.  A certificate for shares based on
the claim allowance will also be distributed to Sapp Battery in
accordance with the agreement.

In exchange, Sapp Battery agreed to withdraw its proofs of claim
against Exide and to release the company from all liability
arising from or relating to those claims.

A full-text of the settlement agreement is available without
charge at http://bankrupt.com/misc/LBHI_SappDeal.pdf

                     About Exide Technologies

Headquartered in Princeton, New Jersey, Exide Technologies
(NASDAQ: XIDE) -- http://www.exide.com/-- manufactures and
distributes lead acid batteries and other related electrical
energy storage products.

The Company filed for Chapter 11 protection (Bankr. Del. Case No.
02-11125) on April 14, 2002.  Matthew N. Kleiman, Esq., and
Kirk A. Kennedy, Esq., at Kirkland & Ellis, and James E. O'Neill,
Esq., at Pachulski Stang Ziehl & Jones LLP represented the Debtors
in their successful restructuring.  The Court confirmed Exide's
Amended Joint Chapter 11 Plan on April 20, 2004.  The plan took
effect on May 5, 2004.  While it has emerged from Bankruptcy,
reorganized Exide is still resolving claims filed against it in
the Bankruptcy Court.

                           *     *     *

Reorganized Exide carries 'B' issuer credit ratings from Standard
& Poor's.  "The ratings on Exide Technologies reflect what we
consider to be the Company's aggressive financial risk profile,
which incorporates S&P's expectation that sales and profitability
will improve gradually as demand increases," said Standard &
Poor's credit analyst Nancy Messer.

Exide has 'B3' corporate family and probability of default ratings
from Moody's Investors Service.  In July 2008, Moody's upgraded
the rating to 'B3' from 'Caa1'.  Exide's B3 Corporate Family
Rating continues to incorporate the company's leveraged profile,
cyclical industry characteristics, and raw material pricing
pressure, Moody's said in January 2011.


FANNIE MAE: Incurs $2.89 Billion Net Loss in Second Quarter
-----------------------------------------------------------
Federal National Mortgage Association filed with the U.S.
Securities and Exchange Commission its quarterly report on form
10-Q reporting a net loss of $2.89 billion on $36.77 billion of
total interest income for the three months ended June 30, 2011,
compared with a net loss of $1.22 billion on $39.39 billion of
total interest income for the same period during the prior year.

The Company also reported a net loss of $9.36 billion on $73.88
billion of total interest income for the six months ended June 30,
2011, compared with a net loss of $12.75 billion on $78.83 billion
of total interest income for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $3.19
trillion in total assets, $3.20 trillion in total liabilities and
a $5.08 billion total deficit.

"We remain the largest source of liquidity for the U.S. mortgage
market, and we are committed to creating long-term value by
helping to build a stable, sustainable housing market for the
future," said Michael J. Williams, president and chief executive
officer.  "We are focused on reducing taxpayer exposure by
limiting our credit losses and building a strong new book of
business.  Our new book of business is now nearly half of our
overall single-family book and we expect these new loans will be
profitable over their lifetime."

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

                        http://is.gd/PInLCH

A copy of the news release is available at http://is.gd/nW5jcr

                         About Fannie Mae

Federal National Mortgage Association, aka Fannie Mae, is a
government-sponsored enterprise that was chartered by U.S.
Congress in 1938 to support liquidity, stability and affordability
in the secondary mortgage market, where existing mortgage-related
assets are purchased and sold.

Fannie Mae has been under conservatorship, with the Federal
Housing Finance Agency acting as conservator, since September 6,
2008.  As conservator, FHFA succeeded to all rights, titles,
powers and privileges of the company, and of any shareholder,
officer or director of the company with respect to the company and
its assets.  The conservator has since delegated specified
authorities to Fannie Mae's Board of Directors and has delegated
to management the authority to conduct day-to-day operations.

The U.S. Department of the Treasury owns Fannie Mae's senior
preferred stock and a warrant to purchase 79.9% of its common
stock, and Treasury has made a commitment under a senior preferred
stock purchase agreement to provide Fannie with funds under
specified conditions to maintain a positive net worth.


FIDELITY NATIONAL: Fitch Affirms 'BB+' Rating on $1-Bil. Facility
-----------------------------------------------------------------
Fitch Ratings has removed Fidelity National Information Services,
Inc. (FIS) from Rating Watch Negative and affirmed all ratings of
FIS with a Stable Outlook.  Fitch had previously placed FIS on
Rating Watch Negative during its regular credit review in June
coincident with FIS' announcement that it had made a preliminary
approach regarding a possible cash offer to acquire the UK-based
company, Misys PLC (Misys).  FIS recently announced that those
discussions have ended without an agreement.  FIS also stated its
intention to resume share repurchases of up to 13.6 million shares
previously authorized by the Board of Directors in February 2010.

This action is already incorporated into the ratings.

Fitch has affirmed the following ratings for FIS:

  -- Issuer Default Rating at 'BB+';
  -- $1 billion secured revolving credit facility (RCF) at 'BB+';
  -- Senior secured term loan A at 'BB+';
  -- Senior secured term loan B at 'BB+';
  -- $600 million in 7.625% senior unsecured notes due July 2017
     at 'BB';
  -- $500 million in 7.875% senior unsecured notes due July 2020
     at 'BB'.

The Rating Outlook is Stable.

A key consideration of FIS' ratings is its free cash flow (FCF)
conversion rate and FCF to debt leverage metrics.  Fitch believes
that the company's capitalization of software development costs
tends to exaggerate EBITDA on a relative basis.  To compensate for
this potential discrepancy, Fitch places greater emphasis on
evaluating FIS' leverage on a cash flow basis relative to peers.

Fitch estimates FIS' cash flow leverage at 12.6% for the LTM ended
June 2011.  This is above the median for 'BB' issuers and
comparable to the 'BBB' median. Fitch expects this figure to
oscillate between the two ranges going forward as the company
pursues potential debt financed acquisitions or shareholder
friendly actions.  FIS' steady operating model and sufficient cash
flow generation reflect positively on the credit relative to other
investment grade issuers.  However, the company's historical
predisposition for debt financed acquisitions and investor
friendly actions, including its strong consideration of a
leveraged buyout, limit upside to the ratings.  In fact, the
stability of the company's cash flows combined with no meaningful
financial and operational rationale for maintaining an investment
grade rating, effectively limit the ratings given the company's
current size as Fitch would expect any attempt to delever the
company to be met by existing shareholder and outsider interest in
using leverage to purchase a portion or potentially a majority of
shares.

Positive rating action is currently limited by the company's size
and potential for additional debt financed acquisitions and
shareholder friendly actions. Negative rating action could occur
if the company was to maintain leverage in excess of 3 times (x)
through repeated borrowings and share repurchases.  Additionally,
negative rating action could occur if the company's primary
customer base, small and mid-tier financial institutions, were
negatively impacted by regulatory changes or severe economic
events.

Rating strengths include the following:

   -- Stable end demand;
   -- Strong diversification, with increasing international
      diversification although highly dependent on small- and mid-
      tier banks;
   -- High switching costs.

Rating concerns include:

   -- History of debt M&A and shareholder friendly actions;
   -- High fixed cost business;
   -- Minimal need to maintain ratings above 'BB';
   -- Potential regulatory changes;
   -- Increasing competition from non-traditional competitors such
      as IBM and Oracle which have greater resources.

The rating and Outlook reflect the following considerations:

  -- Fitch expects revenue growth in the mid-single digits over
     the next several years. Revenue growth could exceed
     expectations if FIS has continued success in cross selling
     opportunities across the combined customer base of FIS and
     Metavante including its recently acquired services offering
     from Capco.  Conversely, changes to financial regulations or
     economic factors that negatively impact small and medium
     sized financial institutions could result in revenue growth
     lagging expectations.

  -- Fitch expects EBITDA growth to largely track revenue growth
     as benefits realized from operational cost savings are offset
     by the growth in lower margin services revenue.

  -- Fitch expects FCF of approximately $700 million to $800
     million annually over the next several years, which reflects
     approximately $300 million in annual capital expenditures
     plus the company's current $70 million dividend program.
     Fitch expects FIS to use a portion of its FCF to modestly
     reduce debt outstanding under its bank facilities.

  -- Fitch estimates leverage (total debt / operating EBITDA) as
     of June 2011 to be 2.8x, which has been trending lower since
     the company's partial debt financed recapitalization effort
     in the September 2010 quarter.  Fitch expects leverage to
     remain roughly in-line with current metrics, subject to
     potential debt financed acquisitions or further share
     repurchases.  Fitch estimates interest coverage (EBITDA to
     Gross Interest Expense) to be 6.7x as of June 2011.

  -- Fitch expects FIS to utilize FCF to fund additional share
     repurchases and potential acquisitions.  While the company's
     unsecured notes do have a restricted payment basket, Fitch
     expects the company to continue to focus on shareholder
     returns.

Total liquidity as of June 30, 2011 was $1.3 billion consisting of
approximately $900 million available under FIS' $1 billion senior
secured revolving credit facility, of which $112 million expires
in January 2012 with the remaining portion expiring July 2014, and
approximately $427 million in cash.

Total debt as of June 30, 2011 was $4.9 billion and consisted
principally of $112 million outstanding under FIS' aforementioned
revolving credit facility, $325 million outstanding under a senior
secured term loan A maturing January 2012; $1.8 billion
outstanding under a senior secured term loan A maturing July 2014;
$1.5 billion outstanding under a senior secured term loan B
maturing July 2016; $600 million in 7.625% senior unsecured notes
due July 2017; and $500 million in 7.875% senior unsecured notes
due July 2020.


FLORIDA EXTRUDERS: Chapter 11 Plan Declared Effective
-----------------------------------------------------
Florida Extruders International, Inc., notified the U.S.
Bankruptcy Court for the Middle District of Florida and parties-
in-interest in its Chapter 11 bankruptcy case that the effective
date of its Chapter 11 Plan occurred on July 5, 2011.

As reported in the TCR on June 27, pursuant to the Plan, the
net proceeds from the sale of the Assets remaining following
payment of, or provision for, the Class 2 Secured Creditor Claims
(Ray Valdez, Seminole County Tax Collector), and the Excluded
Assets or the proceeds thereof will be distributed first, to Wells
Fargo to satisfy its Prepetition Secured Claims; second, to Wells
Fargo to satisfy its DIP Financing Secured Claims; and third, to
Wells Fargo to satisfy its Super-Priority Claims.

Wells Fargo agrees to a carve-out from the distribution an amount
up to $250,000 plus 2% of each dollar that the final Purchase
Price for the assets exceeds $8,000,000 to be distributed for the
benefit of the Class 6 General Unsecured Creditors.

Class 6 General Unsecured Creditors will be paid on a pro rata
basis from (1) the assets of the Debtor's estate or the proceeds
thereof remaining following payment in full of administrative and
priority claims, and payment of the Class 1-5 Secured Creditor
Claims; plus (2) the Guaranteed Distribution in the amount of
$250,000 plus 2% of each dollar that the final purchase price for
the Assets exceeds $8,000,000 less the amount distributed or to be
distributed to Class 6 Creditors, subject to reduction for excess
fees and costs of Committee Counsel.

Class 7 Equity interests of the Debtor will be deemed of no value.
The CRO will be authorized to take the necessary steps and actions
to obtain a final decree dissolving the Post Confirmation Debtor.

A full-text copy of the court-approved disclosure statement, dated
June 2, 2011, is available for free at
http://ResearchArchives.com/t/s?764f

                      About Florida Extruders

Headquartered in Sanford, Florida, Florida Extruders
International, Inc. -- http://www.floridaextruders.com/-- was
formed in 1989 and is a low cost, vertically integrated aluminum
extruder, window, sliding glass door, and patio screen door
manufacturer, and building products distributor.  It filed a bare-
bones Chapter 11 petition (Bankr. M.D. Fla. Case No. 11-07761) on
April 25, 2011.  The case has been assigned to Judge K. Rodney
May.  Christopher C. Todd, Esq., at McIntyre, Panzarella,
Thanasides, serves as the Debtor's counsel.  Triton Capital
Partners, LTD serves as financial advisor and investment banker.

The Company disclosed $33,816,432 in assets and $23,958,630 in
liabilities as of the Chapter 11 filing. The Debtor disclosed
$26.3 million in assets and $16.9 million in debt, mainly owed to
lender Wells Fargo & Co., in its original schedules.  The secured
lender Wells Fargo Bank NA, owed $13.2 million, offered financing
for the Chapter 11 case.

The Hon. K. Rodney May has authorized Florida Extruders to sell
substantially all of its assets to Benada Aluminum Products, LLC.
At the June 14 auction, Benada submitted the final bid of
$11.8 million, representing the highest and best offer received
for the Debtor's assets.


FNB UNITED: Inks Subscription Pacts with Additional Investors
-------------------------------------------------------------
FNB United Corp. previously reported that it entered into separate
investment agreements, as amended, with an affiliate of The
Carlyle Group and affiliates of Oak Hill Capital Partners and
subscription agreements with certain additional investors,
pursuant to which each Investor agreed, subject to certain
conditions, to purchase common stock of the Company as part of the
Company's expected $310 million capital raise.  On Aug. 4, 2011,
the Company entered into subscription agreements with additional
investors and amendments to the Investment Agreements and certain
existing subscription agreements to finalize allocations of the
proposed $310 million capital raise.

As a result of these amendments and new subscription agreements,
each Lead Investor will be investing approximately $79 million and
the other investors will invest the remaining approximately $152
million.  The amended and restated form of subscription agreement
is available for free at http://is.gd/ssn383

In connection with the proposed capital raise and as previously
reported, the Company has entered into an Agreement and Plan of
Merger, dated April 26, 2011, as amended by Amendment No. 1, dated
June 16, 2011, with the Bank of Granite Corporation and a wholly
owned acquisition subsidiary of the Company, pursuant to which the
wholly owned subsidiary of the Company will, subject to certain
conditions, merge with and into Granite, with Granite surviving as
a subsidiary of the Company.

The closings of the Merger and the Lead Investors' and the other
investors' respective investments remain subject to these
conditions, among others:

   -- the closing conditions under the Merger Agreement, the
      Investment Agreements and the subscription agreements having
      been satisfied or waived;

   -- receipt of bank regulatory approvals;

   -- Company shareholder approval of certain proposals necessary
      for the Company to consummate the investments, the Merger
      and the related transactions;

   -- the shares of Common Stock to be issued under the Investment
      Agreements being authorized for listing on NASDAQ;

   -- the exchange of the Company's preferred stock issued to the
      U.S. Department of the Treasury for Common Stock;

   -- changes to the Company's Board of Directors;

   -- the absence of burdensome regulatory conditions or
      agreements at closing;

   -- the satisfaction of conditions regarding minimum liquidity
      and non-brokered deposits and the level of non-performing
      assets;

   -- receipt of advice as to the absence of an Internal Revenue
      Code section 382 ownership change as a result of the private
      placement investments; and

   -- neither the Company nor Granite's having experienced a
      material adverse effect.

                    Agreement with SunTrust Bank

On Aug. 1, 2011, CommunityONE Bank, N.A., and SunTrust Bank
entered to an agreement to settle $2.5 million in subordinated
debt of CommunityONE held by SunTrust Bank for cash in amount
equal to 35% of the principal amount of the debt, plus 100% of the
unpaid and accrued interest on the debt as of the closing date of
the Merger.  Pursuant to the terms of the SunTrust Agreement,
CommunityONE has also agreed to repurchase 12.5 million shares of
preferred stock of CommunityONE owned by SunTrust Bank for cash in
an amount equal to 25% of the aggregate liquidation amount of the
preferred stock, plus 100% of the unpaid and accrued dividends on
the preferred stock as of the closing date of the Merger.

                       Non-Compliance Notice

On Aug. 3, 2011, the Company received written notice from The
Nasdaq Stock Market of the Nasdaq staff's determination that the
Company has not regained compliance with Nasdaq Listing Rule
5550(a)(2), the bid price rule.  As previously disclosed, the
Company is also not in compliance with Nasdaq Listing Rule
5550(b), the stockholders' equity rule.  The Company is in the
process of appealing the determination of the Nasdaq staff to
remove the Company's common stock from listing and registration on
The Nasdaq Stock Market.  The Company's common stock will continue
to trade on The Nasdaq Capital Market under the symbol "FNBN"
during the appeals period.

                       Subscription Agreements

On Aug. 4, 2011, the Company entered into subscription agreements
providing for the sale of approximately $73.025 million of Common
Stock, in aggregate, to additional investors and amended and
restated subscription agreements providing for the sale of an
additional approximately $3.975 million of Common Stock, in
aggregate, to investors that had originally executed subscription
agreements on June 16, 2011.  In addition, the Company entered
into amendments to each of the Investment Agreements providing for
the sale of an additional $3 million of Common Stock, in
aggregate, to the Lead Investors.

                         About FNB United

Asheboro, N.C.-based FNB United Corp. (Nasdaq:FNBN) is the bank
holding company for CommunityOne Bank, N.A., and the bank's
subsidiary, Dover Mortgage Company.  Opened in 1907, CommunityOne
Bank -- http://www.MyYesBank.com/-- operates 45 offices in 38
communities throughout central, southern and western North
Carolina.  Through these subsidiaries, FNB United offers a
complete line of consumer, mortgage and business banking services,
including loan, deposit, cash management, wealth management and
internet banking services.

The Company's balance sheet at March 31, 2011, showed
$1.82 billion in total assets, $1.89 billion in total liabilities,
and a $67.70 million total shareholders' deficit.

The Company incurred significant net losses in 2009, which
continued in 2010 and 2011, primarily from the higher provisions
for loan losses due to the significant level of nonperforming
assets and the write-off of goodwill.

Dixon Hughes PLLC, in Charlotte, North Carolina, in its
independent auditors' report dated March 14, 2011 and attached to
the financial statements, noted that the Company continued to
incur significant net losses in 2010, primarily from the higher
provisions for loan losses due to the significant level of non-
performing assets.  According to Dixon Hughes, the Company is
significantly undercapitalized per regulatory guidelines and has
failed to reach capital levels required in the Consent Order
issued by the Office of the Comptroller of the Currency in 2010.
These matters, the accounting firm maintains, raise substantial
doubt about the Company's ability to continue as a going concern.

Dixon Hughes also said that FNB United Corp. and Subsidiary has
not maintained effective internal control over financial reporting
as of Dec. 31, 2010, based on criteria established in Internal
Control-Integrated Framework issued by the Committee of Sponsoring
Organizations of the Treadway Commission.


FOUNDATIONS MONTESSORI: Voluntary Chapter 11 Case Summary
---------------------------------------------------------
Debtor: Foundations Montessori School, Inc.
        2651 W. Algonquin Road
        Algonquin, IL 60102

Bankruptcy Case No.: 11-83507

Chapter 11 Petition Date: August 8, 2011

Court: United States Bankruptcy Court
       Northern District of Illinois (Rockford)

Judge: Manuel Barbosa

Debtor's Counsel: David R. Herzog, Esq.
                  HERZOG & SCWARTZ PC
                  77 W Washington Suite 1717
                  Chicago, IL 60602
                  Tel: (312) 977-1600
                  E-mail: drhlaw@mindspring.com

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

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.


FRONTGATE DEVELOPMENT: Case Summary & Creditors List
----------------------------------------------------
Debtor: Frontgate Development, LLC
        4139 N. Oleander
        Norridge, IL 60706

Bankruptcy Case No.: 11-31963

Chapter 11 Petition Date: August 4, 2011

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

Judge: Jacqueline P. Cox

Debtor's Counsel: Aaron Spivack, Esq.
                  LAW OFFICES OF AARON SPIVACK
                  566 W. Lake Street, Suite LL101
                  Chicago, IL 60661
                  Tel: (312) 775-9060

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/ilnb11-31963.pdf

The petition was signed by Janek Soltys, sole shareholder.


GCEP - GOODYEAR: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: GCEP - Goodyear, LLC
        8300 N. Hayden Road #207
        Scottsdale, AZ 85258

Bankruptcy Case No.: 11-22546

Chapter 11 Petition Date: August 5, 2011

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

Judge: James M. Marlar

Debtor's Counsel: Kevin C. McCoy, Esq.
                  KELLY McCOY, PLC
                  1411 N. Third St.
                  Phoenix, AZ 85004
                  Tel: (602) 687-7433
                  Fax: (602) 687-7466
                  E-mail: kmccoy@kelly-mccoy.com

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

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

Affiliates that sought Chapter 11 protection:

                                                 Petition
  Entity                            Case No.       Date
  ------                            -------        ----
GCEP - Scottsdale, LLC              11-22547      8/05/11
  Assets: $50,001 to $100,000
  Debts: $1,000,001 to $10,000,000
GCEP - Surprise, LLC                11-22550      8/05/11
  Assets: $50,001 to $100,000
  Debts: $1,000,001 to $10,000,000

A list of GCEP - Goodyear's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/azb11-22546.pdf

A list of GCEP - Scottsdale 's 20 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/azb11-22547.pdf

A list of GCEP - Surprise's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/azb11-22550.pdf

The petitions were signed by David R. Agado, managing member.


GETTY PETROLEUM: Defaults on Rental Payments to Getty Realty
------------------------------------------------------------
Getty Realty Corp. has not received the monthly rental payment due
for August 2011 from its largest tenant, Getty Petroleum Marketing
Inc., under its Master Lease and other leases with Marketing.

In discussions with Getty Petroleum Marketing, Getty Realty was
informed that based on Marketing's distressed financial position,
weakness in operating margins, and cash flow deficiencies, it was
unlikely to be able to pay full rent for August.  Although Getty
Petroleum Marketing described various contingencies which, if
resolved favorably, may allow for payment of full or partial rent
for August, the Company can provide no assurances that Marketing
will meet its current or future rental or other obligations under
the Marketing Leases.

Getty Realty has issued a contractual notice of default to
Marketing as a result of its non-payment of rent, and intends to
continue discussions with Marketing while it evaluates its options
regarding this matter.

Getty Realty is the largest publicly-traded real estate investment
trust in the United States specializing in ownership, leasing and
financing of retail motor fuel and convenience store properties
and petroleum distribution terminals.  The Company owns and leases
approximately 1,170 properties nationwide.

Carla Main at Bloomberg News reports that Getty Realty's shares
fell 13% Aug. 9 after the announcement.


GLOBAL CROSSING: Files Form 10-Q, Incurs $34-Mil. Net Loss in Q2
----------------------------------------------------------------
Global Crossing Limited filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q reporting a
net loss of $34 million on $692 million of revenue for the three
months ended June 30, 2011, compared with a net loss of $47
million on $630 million of revenue for the same period during the
prior year.

The Company also reported a net loss of $67 million on $1.35
billion of revenue for the six months ended June 30, 2011,
compared with a net loss of $166 million on $1.27 billion of
revenue for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $2.28 billion
in total assets, $2.83 billion in total liabilities and a $548
million total shareholders' deficit.

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

                        http://is.gd/q0LAUS

                       About Global Crossing

Based in Hamilton, Bermuda, Global Crossing Limited (NASDAQ: GLBC)
-- http://www.globalcrossing.com/-- is a global IP, Ethernet,
data center and video solutions provider with the world's first
integrated global IP-based network.

Global Crossing Limited reported a consolidated net loss of
$172 million on $2.609 billion of consolidated revenue for the
twelve months ended Dec. 31, 2010, compared with a net loss of
$141 million on $2.159 billion of revenue during the prior year.

                          *     *     *

As reported by the Troubled Company Reporter on March 31, 2010,
Standard & Poor's Ratings Services raised all its ratings on
Global Crossing, including the corporate credit rating to 'B' from
'B-'.  The outlook is stable.  S&P assigned its 'CCC+' issue-level
rating and '6' recovery rating to Global Crossing's proposed $150
million of senior unsecured notes due 2019.  The '6' recovery
rating indicates S&P's expectation for negligible (0%-10%)
recovery in the event of a payment default.


GRAND ISLAND: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Grand Island Regency Retirement
        803 Alpha Street
        Grand Island, NE 68803
        Tel: (308) 381-4553

Bankruptcy Case No.: 11-42109

Chapter 11 Petition Date: August 8, 2011

Court: U.S. Bankruptcy Court
       District of Nebraska (Lincoln Office)

Judge: Thomas L. Saladino

Debtor's Counsel: Galen E. Stehlik, Esq.
                  LAURITSEN, BROWNELL, BROSTROM, STEHLIK
                  724 W. Koenig
                  P.O. Box 400
                  Grand Island, NE 68802
                  Tel: (308) 382-8010
                  Fax: (308) 382-8018
                  E-mail: galens@lauritsenlaw.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/neb11-42109.pdf

The petition was signed by Ralph Dan Niemoth, treasurer/acting
secretary.


HALO WIRELESS: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Halo Wireless, Inc.
        2351 West Northwest Highway, Suite 1205
        Dallas, TX 75220

Bankruptcy Case No.: 11-42464

Chapter 11 Petition Date: August 8, 2011

Court: U.S. Bankruptcy Court
       Eastern District of Texas (Sherman)

Debtor's Counsel: E. P. Keiffer, Esq.
                  WRIGHT GINSBERG BRUSILOW PC
                  Republic Center, Suite 4150
                  325 North St. Paul Street
                  Dallas, TX 75201
                  Tel: (214) 651-6517
                  Fax: (214) 744-2615
                  E-mail: pkeiffer@wgblawfirm.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 Russel Wiseman, president.


HARRY & DAVID: Creditors Push for Plan Confirmation
---------------------------------------------------
Pete Brush at Bankruptcy Law360 reports that companies holding
some $30 million in unsecured trade claims against Harry & David
Holdings Inc. pushed for confirmation of the company's
reorganization plan Tuesday in Delaware after a key ruling erased
the holiday gift purveyor's pension liability for 2,700 workers.

As reported in yesterday's TCR, Harry & David received permission
to terminate the pensions of more than 2,700 workers.  Under a
ruling issued by U.S. Bankruptcy Court Judge Mary Walrath, the
Oregon-based gift basket maker can terminate its plan when it
emerges from bankruptcy.  The decision comes in spite of the
efforts of the Pension Benefit Guaranty Corporation, which opposes
Harry & David's move to end its pension plan and transfer it to
PBGC.

Harry & David claimed it needed to terminate its pension plan
because its investors, the private equity firm Wasserstein
Partners LP, are unwilling to finance the pensions.

                        The Chapter 11 Plan

Prepetition, the Debtor negotiated the terms of a plan of
reorganization with  holders of approximately 81% of its senior
notes.

The Court entered an order approving the disclosure statement
explaining the proposed Chapter 11 plan on June 24.

As reported in the Troubled Company Reporter on July 6, 2011, the
Debtor modified the plan to gain support from the official
unsecured creditors' committee.  The modified plan provides for
these terms:

    * Unsecured creditors are to receive 10% in total, with 40% of
    that coming in 2012 and 60% in 2013.

    * Pension Benefit Guaranty Corp. and holders of $58.2 million
    in senior floating-rate notes and $148.2 million in senior
    fixed-rate notes are in a class together. In return for their
    claims, they are to receive 146,000 new common shares and the
    right to purchase another 733,000 shares, or about 74.9%, in a
    $55 million rights offering.  The recovery for noteholders is
    estimated between 2% and 17.4% for participants in the rights
    offering.  For those not participating, the recovery is 4.2%
    to 10%, according to the disclosure statement.

    * The proceeds of the $55 million rights offering will be used
    to repay the $55 million in second-lien financing for the
    Chapter 11 case.  Noteholders are backstopping the rights
    offering. As a fee, they will receive 50,000 shares.

    * Existing lenders providing $100 million in first-lien
    financing for the bankruptcy case will continue the loan when
    the company emerges from Chapter 11.

The original plan was agreed to before bankruptcy with holders of
81% of the senior notes, including Wasserstein & Co., which also
owns 63% of the stock.  Wells Fargo Bank is indenture trustee
for the noteholders.

                        About Harry & David

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

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

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

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

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

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

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

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


HCA HOLDINGS: Reports $320 Million Net Income in June 30 Quarter
----------------------------------------------------------------
HCA Holdings, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on form 10-Q reporting net income
of $320 million on $8.06 billion of revenue for the quarter ended
June 30, 2011, compared with net income of $378 million on
$7.75 billion of revenue for the same period a year ago.

The Company also reported net income of $654 million on
$16.11 billion of revenue for the six months ended June 30, 2011,
compared with net income of $854 million on $15.30 billion of
revenue for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed
$23.87 billion in total assets, $31.41 billion in total
liabilities, and a $7.53 billion stockholders' deficit.

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

                        http://is.gd/DoTJRt

                           About HCA Inc.

Headquartered in Nashville, Tennessee, HCA is the nation's largest
acute care hospital company with 162 hospitals and 104
freestanding surgery centers (including eight hospitals and eight
freestanding surgery centers that are accounted for using the
equity method) as of Sept. 30, 2010.  For the 12 months ended
Sept. 30, 2010, the company recognized revenue in excess of
$30 billion.

                           *     *     *

In May 2011, Moody's Investors Service upgraded the Corporate
Family and Probability of Default Ratings of HCA Inc. (HCA) to B1
from B2.  "The upgrade of HCA's rating reflects the considerable
progress the company has made in improving financial metrics and
managing the company's maturity profile since the November 2006
LBO," said Dean Diaz, a Moody's Senior Credit Officer. "While the
funding of distributions to shareholders at the end of 2010
increased debt levels, the growth in EBITDA and debt repayment
since the LBO have improved leverage metrics considerably from the
high levels seen just after the company went private," continued
Diaz.

As reported by the Troubled Company Reporter on March 14, 2011,
Moody's Investors Service commented that the completion of the IPO
by HCA Holdings, Inc., has no immediate impact on the company's B2
Corporate Family Rating.  The outlook for the ratings remains
positive.  While Moody's believes that the completion of the IPO
is a credit positive since proceeds are expected to be used to
repay outstanding debt, the estimated $2.6 billion of proceeds to
the company won't meaningfully reduce HCA's $28.2 billion debt
load.

In the March 16, 2011, edition of the TCR, Fitch Ratings has
upgraded its ratings for HCA Inc. and HCA Holdings Inc., including
the companies' Issuer Default Ratings which were upgraded to 'B+'
from 'B'.  The Rating Outlook is revised to Stable from Positive.
The ratings apply to approximately $28.2 billion in debt
outstanding at Dec. 31, 2010.  Fitch noted that HCA has made
significant progress in reducing debt leverage since it was taken
private in 2006 in a LBO which added $17 billion to the company's
debt balance; at Dec. 31, 2006, immediately post the LBO, debt-to-
EBITDA was 6.7x.  Most of the reduction in debt leverage over the
past four years was accomplished through growth in EBITDA, which
Fitch calculates has expanded by $1.7 billion or 40% to $5.9
billion for 2010 versus $4.2 billion in 2006.  Although the
company did not undertake a significant organizational
restructuring post the LBO, management has nevertheless been
successful in growing EBITDA and significantly expanding
discretionary free cash flow (FCF).  Fitch believes this was
accomplished through various operational initiatives, including
expansion of profitable service lines and the divestiture of some
under performing hospitals, as well as the generally resilient
operating trend of the for-profit hospital industry during the
recent economic recession despite the pressure of increased levels
of uncompensated care and generally weak organic patient volume
trends.


HERITAGE CONSOLIDATED: Court OKs Hiring of 3 Law Firms
------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas has
approved Heritage Consolidated, LLC's application to employ Munsch
Hardt Kopf & Harr, P.C. and Rochelle McCullough, LLP, as counsel.
The Court also authorized Heritage Standard Corporation as special
bankruptcy counsel.

The Debtors relate that the sale order, in conjunction with the
Global Resolution Proposal, significantly reduced the remaining
assets and issues for the Debtors and resolved many of the
potential conflicts between the estates of HSC and Consolidated.
In particular, the Debtors were concerned about potential lien
priority disputes among CIT Capital Securities, LLC, the Debtors'
primary lender at the time, HSC as the holder of an operator's
lien and Consolidated as the owner of the primary assets which
were collateralized.  The foregoing sale order and global
resolution proposal has resulted in the satisfaction of the
secured claims of CIT and significantly reduced any chance that
the scope of the operator's lien would become an issue for
Consolidated.

Accordingly, at the insistence of the Committee, HSC requests that
the Court authorize Munsch Hardt to take over as general
bankruptcy counsel for both Debtors and assume the duties and
responsibilities being performed by RM LLP on behalf of HSC, in
the absence of an actual conflict between the interests of
Consolidated and HSC.

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

The firms can be reached at:

         Joe E. Marshall, Esq.
         Kathleen M. Patrick, Esq.
         MUNSCH HARDT KOPF & HARR, P.C.
         3800 Lincoln Plaza
         500 North Akard Street
         Dallas, TX 75201-6659
         Tel: (214) 855-7500
         Fax: (214) 978-4365
         E-mail: jmarshall@munsch.com
                 kpatrick@munsch.com

                  - and -

         Kevin D. McCullough, Esq.
         Kerry Ann Miller, Esq.
         ROCHELLE McCULLOUGH LLP
         325 N. St. Paul Street, Suite 4500
         Dallas, TX 75201
         Tel: (214) 953-0182
         Fax: (214) 953-0185
         E-mail: kdm@romclawyers.com
                 kmiller@romclawyers.com

                   About Heritage Consolidated

Heritage Consolidated LLC is a privately held company whose core
operations consist of exploration for, and acquisition,
production, and sale of, crude oil and natural gas.

Heritage Consolidated filed a Chapter 11 petition (Bankr. N.D.
Tex. Case No. 10-36484) on Sept. 14, 2010, in Dallas, Texas.
Its affiliate, Heritage Standard Corporation, also filed for
Chapter 11 protection (Bankr. N.D. Tex. Case No. 10-36485).  The
Debtors each estimated assets and debts of
$10 million to $50 million.


HIMES PROPERTIES: Case Summary & 7 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Himes Properties, LLC
        P.O. Box 90027
        Chattanooga, TN 37412

Bankruptcy Case No.: 11-14220

Chapter 11 Petition Date: August 4, 2011

Court: U.S. Bankruptcy Court
       Eastern District of Tennessee (Chattanooga)

Judge: John C. Cook

Debtor's Counsel: Kyle R. Weems, Esq.
                  WEEMS & RONAN
                  744 McCallie Avenue, Suite 520
                  Chattanooga, TN 37403
                  Tel: (423) 624-1000
                  E-mail: weemslaw@earthlink.net

Estimated Assets: $0 to $50,000

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/tneb11-14220.pdf

The petition was signed by Nancy Chandler, member.


HIS, II: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------
Debtor: HIS, II LLC
          dba Arthur's Wine & Liquor
        5475 Poplar Avenue, Suite 104
        Memphis, TN 38119-3730

Bankruptcy Case No.: 11-27884

Chapter 11 Petition Date: August 5, 2011

Court: U.S. Bankruptcy Court
       Western District of Tennessee (Memphis)

Judge: Jennie D. Latta

Debtor's Counsel: Toni Campbell Parker, Esq.
                  LAW OFFICE OF TONI CAMPBELL PARKER
                  615 Oakleaf Office Lane
                  P.O. Box 240666
                  Memphis, TN 38124-0666
                  Tel: (901) 683-0099
                  Fax: (866) 489-7938
                  E-mail: tparker002@att.net

Estimated Assets: $0 to $50,000

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/tnwb11-27884.pdf

The petition was signed by Robert Hyde, Jr., managing member.


INTELSAT SA: Incurs $214.4 Million Net Loss in Second Quarter
-------------------------------------------------------------
Intelsat S.A. filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, reporting a net loss
of $214.48 million on $642.44 million of revenue for the three
months ended June 30, 2011, compared with a net loss of
$181.91 million on $635.28 million of revenue for the same period
during the prior year.

The Company also reported a net loss of $430.24 million on
$1.28 billion of revenue for the six months ended June 30, 2011,
compared with a net loss of $285.34 million on $1.25 billion of
revenue for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed
$17.59 billion in total assets, $18.28 billion in total
liabilities, $1.90 million in noncontrolling interest, and a
$698.94 million total Intelsat S.A. shareholders' deficit.

"Business activity is strong, driven by favorable demand trends
for broadband infrastructure and media distribution for direct-to-
home (DTH) and cable applications.  Overall growth was muted in
the second quarter, as a result of reduced mobile satellite
services revenues in our government business and decreased network
services revenues.  Still, we experienced strong revenue growth of
9 percent in our government business and modest growth in our
media business, resulting in steady overall revenue and
maintenance of our 78 percent Adjusted EBITDA margin in the
period," said Intelsat CEO David McGlade.

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

                        http://is.gd/mjdbll

                          About Intelsat

Intelsat S.A., formerly Intelsat, Ltd., provides fixed-satellite
communications services worldwide through a global communications
network of 54 satellites in orbit as of Dec. 31, 2009, and ground
facilities related to the satellite operations and control, and
teleport services.  It had US$2.5 billion in revenue in 2009.

Luxembourg-based Intelsat S.A. carries 'B' issuer credit ratings
from Standard & Poor's.  It has 'Caa1' corporate family and
probability of default ratings from Moody's Investors Service.

Washington D.C.-based Intelsat Corporation, formerly known as
PanAmSat Corporation, is a fully integrated subsidiary of Intelsat
S.A., its indirect parent.  Intelsat Corp. had US$7.70 billion in
assets against US$4.86 billion in debts as of Dec. 31, 2010.

The Company reported a net loss of US$507.77 million on
US$2.54 billion of revenue for the year ended Dec. 31, 2010,
compared with a net loss of US$782.06 million on US$2.51 billion
of revenue during the prior year.


IOWA HOTEL: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Iowa Hotel Investors, LLC
        dba Country Inn & Suites Hotel
        3962 Brown Park Drive, Suite A
        Hilliard, OH 43026

Bankruptcy Case No.: 11-01836

Chapter 11 Petition Date: August 5, 2011

Court: United States Bankruptcy Court
       Northern District of Iowa (Waterloo)

Debtor's Counsel: Joseph A. Peiffer, Esq.
                  Ronald C. Martin, Esq.
                  Day Rettig Peiffer, P.C.
                  P.O. Box 2877
                  Cedar Rapids, IA 52406-2877
                  Tel: (319) 365-0437
                  Fax: (319) 365-5866
                  E-mail: joep@drpjlaw.com
                          ronm@drpjlaw.com

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

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

Affiliate that sought Chapter 11 protection:

                                                 Petition
   Debtor                            Case No.     Date
   ------                            --------     ----
Iowa Hotel Investors II, LLC         11-01837    8/05/11
  Assets: $1,000,001 to $10,000,000
  Debts: $1,000,001 to $10,000,000

A list of the Iowa Hotel Investors' 20 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/ianb11-01836.pdf

A list of Iowa Hotel Investors II's 20 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/ianb11-01837.pdf

The petitions were signed by Mark Taylor, managing member.


JACKSON HEWITT: Stay Lifted in Firm, H&R Block False Ad Row
-----------------------------------------------------------
Pete Brush at Bankruptcy Law360 reports that U.S. Bankruptcy Judge
Mary F. Walrath on Monday lifted a stay that had put a stop to a
Lanham Act false advertising fight between rival tax preparers
Jackson Hewitt Tax Service Inc. and H&R Block Inc., the same day
the judge confirmed Jackson Hewitt's plan to exit Chapter 11.

Judge Walrath lifted an automatic bankruptcy stay allowing Kansas
City, Mo.-based H&R Block's parent, HRB Tax Group Inc., to conduct
discovery and pursue its counterclaims to judgment in a New York
federal court action, according to Law360.

                       About Jackson Hewitt

Parsippany, New York-based Jackson Hewitt Tax Service Inc., aka
JHTS Inc., provides computerized preparation services for federal,
state and local individual income tax returns in the United States
through a nationwide network of franchised and company-owned
offices operating under the brand name Jackson Hewitt Tax Service.
The Company has 700 franchisees who collectively operated a total
of 4,846 offices.  The Company also operates 1,110 company-owned
offices.

Jackson Hewitt and its affiliates filed for Chapter 11 bankruptcy
(Bankr. D. Del. Lead Case No. 11-11587) on May 24, 2011.  Judge
Mary F. Walrath presides over the case.  Skadden, Arps, Slate,
Meagher & Flom LLP, serves as the Debtors' bankruptcy counsel.
Alvarez & Marsal North America, LLC, serves as their financial
advisor.  Moelis & Company LLC acts as investment banker.  The
Garden City Group, Inc., serves as the Debtors' Claims and
Noticing Agent.  The Debtors also tapped Deloitte & Touche to
serve as tax advisors and Kekst & Company to serve as
communications advisors.

BDO Financial serves as financial advisors to the Official
Committee of Unsecured Creditors.

The Debtors filed a Joint Prepackaged Plan of Reorganization and
Disclosure Statement together with their petitions.  Under the
terms of the Plan, Jackson Hewitt's current secured lenders will
receive their pro rata share of a new $100 million term loan and
all of the equity in the reorganized enterprise.  The Company also
anticipates entering into a new $115 million revolving credit
facility upon consummation of the Plan.  It is anticipated that
upon consummation of the proposed Plan, Jackson Hewitt's new
equity will be privately held.  All of the Company's existing
common stock will be cancelled upon Jackson Hewitt's emergence
from bankruptcy.

On May 23, 2011, the Debtors commenced solicitation of votes on
the Plan from the lenders.  No other classes of creditors or
stockholders were solicited, as each such class is either being
paid in full or receiving no recovery and hence, is deemed either
to accept or reject the Plan, respectively.  The Debtors received
overwhelming acceptances to the Plan from the lenders.

Mark McDermott, Esq., at Skadden Arps, told the Bankruptcy Court
at a May 25 hearing that investor and financier Bayside Capital is
in line to be "a significant majority" owner of Jackson Hewitt.
Bayside Capital has $4.5 billion under management.  Bayside is the
largest of 10 secured lenders that Jackson Hewitt owes a total of
$357 million.

Mr. McDermott also told the Court that Jackson Hewitt, worth an
estimated $225 million, does not have sufficient value to cover
the secured debt.

The Court set a July 8 court date to consider confirmation of
Jackson Hewitt's Chapter 11 plan.  But the unsecured creditors won
an extra month to investigate the company's prepackaged
reorganization plan and secured resources for the effort after a
judge refused to place a hard cap on attorneys' fees.


JAMESTOWN MALL: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Jamestown Mall Realty Management, LLC
        249-27 37 Ave.
        Little Neck, NY 11363

Bankruptcy Case No.: 11-48354

Chapter 11 Petition Date: August 8, 2011

Court: United States Bankruptcy Court
       Eastern District of Missouri (St. Louis)

Judge: Charles E. Rendlen III

Debtor's Counsel: Keith D. Price, Esq.
                  Scott A. Greenberg, Esq.
                  SANDBERG PHOENIX & VON GONTARD
                  600 Washington Avenue, 15th Floor
                  St. Louis, MO 63101-1313
                  Tel: (314) 231-3332
                  Fax: (314) 241-7604
                  E-mail: kprice@sandbergphoenix.com
                          sgreenberg@sandbergphoenix.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 Mehran Kohansieh, managing member.


JCK HOTELS: U.S. Trustee Forms 3-Member Creditors Committee
-----------------------------------------------------------
Tiffany L. Carroll, Acting United States Trustee for Region 16,
under 11 U.S.C. Sec. 1102(a) and (b), appointed three unsecured
creditors to serve on the Official Committee of Unsecured
Creditors of JCK Hotels, LLC, fka Mira Mesa Hotels, LLC.

The Creditors Committee members are:

      1. Sysco Guest Supply LLC
         4301 U.S. Highway 1
         Monmouth Junction, NJ 08852
         ATTN: Michael W. Hall
         Tel: (609) 514-7373
         Fax: (609) 514-1190
         E-mail: mhall@guestsupply.com

      2. Hospitality Plus Inc.
         33171 Camino Capistrano
         San Juan, Capistrano, CA
         92675
         ATTN: Richard Rowland
         Tel: (949) 364-9634
         Fax: (949) 364-8917
         E-mail: Rowland-5@cox.net

      3. Innkeepers Telecom
         760 N. Euclid Street #213
         Anaheim, CA 92801
         ATTN: Kenneth Lee
         Tel: (949)-261-7330
         Fax: (949)-261-7331
         E-mail: leekyosik@gmail.com

JCK Hotels, LLC, fka Mira Mesa Hotels, LLC, operates the Holiday
Inn Express Mira Mesa Hotel and the Comfort Suites Mira Mesa Hotel
in San Diego, California.  The Hotels are operated under licensing
and franchise agreements with Holiday Inn Express and Comfort
Suites.

JCK Hotels filed for Chapter 11 bankruptcy (Bankr. S.D. Calif.
Case No. 11-09428) on June 3, 2011.  Judge Louise DeCarl Adler
presides over the case.  William M. Rathbone, Esq., at Gordon &
Rees LLP, serves as bankruptcy counsel.  While no formal appraisal
has been done recently, the Debtor believes the fair market value
of both Hotels exceeds $18 million.  The petition was signed by
Charles Jung, managing member.


JEFFERSON, ALA: Won't Extend Standstill Agreement With Creditors
----------------------------------------------------------------
Jefferson County, Alabama, won't extend a standstill agreement
that has allowed for talks with creditors to avoid a bankruptcy
filing over $3.1 billion of sewer-system debt, Commission
President David Carrington said, according to reporting by Carla
Main at Bloomberg News.

According to the report, the commission sent creditors a
counteroffer for renegotiating the debt on Aug. 7 and hasn't heard
back, Mr. Carrington said at a news conference Aug. 9.  It
proposed 8% sewer-rate increases annually for three years and 3%
in each of the next two years, Commissioner Sandra Little Brown
said in an interview.

Commissioners had previously proposed raising rates at 7.8%
annually for three years, followed by 3% increases in two more to
help make payments that have strained its finances. Creditors
wanted 8% annually for five years, Ms. Little Brown has said.  Mr.
Carrington said the commission will vote either to file for
Chapter 9 bankruptcy protection or approve terms of an agreement
with creditors, which include JPMorgan Chase & Co. and bond
insurers Financial Guaranty Insurance Co. and Syncora Guarantee
Inc.

Mr. Carrington said the fact creditors had offered to shave
$1 billion from the $3.1 billion debt had done as much damage to
the county's reputation as a bankruptcy would.  He said any deal
struck before the Aug. 12 end of the standstill agreement would
begin a process that could last into next year.

The county would approve a term sheet that would have to be
crafted into an agreement, he said, and the Alabama Legislature
would have to approve changes needed to help Jefferson County
rebuild its finances.

                       Amended Proposal

Barnett Wright, writing for The Birmingham (Ala.) News, reports
that two Jefferson County officials said Tuesday the county is
asking creditors to erase $1.17 billion of its $3.14 billion sewer
debt and put up most of a relief fund for ratepayers who struggle
to pay sewer bills.  The report notes the amended proposal
modifies the county's original request that creditors write off
$1.3 billion of the debt.  The creditors last month offered to
write off nearly $1 billion.  According to the report, the new
plan also asks creditors to provide $19 million of a $20 million
indigent relief fund, with the county paying the remaining amount.

According to the report, court-appointed sewer receiver John S.
Young, who has served as a mediator between the two sides, said
late Tuesday that the county should have the creditors' response
Thursday morning.

                     About Jefferson County

Jefferson County has its seat in Birmingham, Alabama.  It has a
population of 660,000.  It ended its 2006 fiscal year with a
$42.6 million general fund balance, according to Standard &
Poor's.

Jefferson County is trying to restructure $3.2 billion in sewer
debt.  A bankruptcy by Jefferson County stands to be the largest
municipal bankruptcy in U.S. history.  It could beat the record of
$1.7 billion set by Orange County, California in 1994.

In September 2010, Alabama Circuit Court Judge Albert Johnson
named John S. Young Jr. LLC as receiver for the sewer system.

Jefferson County has retained Kenneth Klee, Esq., at Klee Tuchin
Bogdanoff & Stern LLP to represent the county in the event of
bankruptcy.  Mr. Klee is considered to be a municipal-bankruptcy
expert, having handled Orange County, Calif.'s bankruptcy case in
1994.


KBJ LOGGING: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: KBJ Logging, Inc.
        P.O. Box 10
        Wallace, NC 28466

Bankruptcy Case No.: 11-06056

Chapter 11 Petition Date: August 8, 2011

Court: U.S. Bankruptcy Court
       Eastern District of North Carolina (Wilson)

Judge: J. Rich Leonard

Debtor's Counsel: Algernon L. Butler, III, Esq.
                  BUTLER & BUTLER, L.L.P.
                  P.O. BOX 38
                  Wilmington, NC 28402
                  Tel: (910) 762-1908
                  Fax: (910) 762-9441
                  E-mail: albutleriii@butlerbutler.com

Scheduled Assets: $888,587

Scheduled Debts: $1,576,022

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/nceb11-06056.pdf

The petition was signed by Jody A. Brooks, president.


KT SPEARS: Court Approves McCarthy Law as Substitute Counsel
------------------------------------------------------------
The U.S. Bankruptcy Court for the District of South Carolina
authorized McCarthy Law Firm, LLC to be the substitute bankruptcy
counsel in the Chapter 11 case of KT Spears Creek, LLC.

The Debtor has consented to the withdrawal of Matthew S. Okin,
Maggie D. Conner, and the law firm of Okin Adams & Kilmer LLP as
bankruptcy counsel.  The Debtor related that its bankruptcy case
was transferred from the Southern District of Texas to the
District of South Carolina.  The original bankruptcy counsel
requested that they be allowed to withdraw from representation of
the Debtor.

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.


KV PHARMACEUTICAL: Partner Fund Owns 1.25MM of Class A Shares
-------------------------------------------------------------
In an amended Schedule 13D filing with the U.S. Securities and
Exchange Commission, Partner Fund Management, L.P., disclosed that
it beneficially owns 1,256,596 shares of Class A common stock of
K-V Pharmaceutical Company representing 2.5% of the shares
outstanding.  Partner Investment Management, L.P., also holds 2.4%
equity stake.  As previously reported by the TCR on March 16,
2011, Partner Fund disclosed ownership of 6,266,219 shares of
Class A common stock representing 13.1% of the shares outstanding.
A full-text copy of the regulatory filing is available at no
charge at http://is.gd/4iEbfa

                   About KV Pharmaceutical Company

KV Pharmaceutical Company (NYSE: KVa/KVb) --
http://www.kvpharmaceutical.com/-- is a fully integrated
specialty pharmaceutical company that develops, manufactures,
markets, and acquires technology-distinguished branded and
generic/non-branded prescription pharmaceutical products.  The
Company markets its technology distinguished products through
ETHEX Corporation, a subsidiary that competes with branded
products, and Ther-Rx Corporation, the company's branded drug
subsidiary.

KV Pharmaceutical has not timely filed its Form 10-K for the year
ended March 31, 2010 and its Form 10-Qs for the subsequent
quarterly periods.  The Company's independent accounting firm,
KPMG, resigned on June 25, 2010, and the Company has tapped BDO
USA, LLP, to audit the fiscal 2010 financial statements.  The Form
10-Q for the quarter ended June 30, 2010, was only filed March 10,
2011.

The Company's balance sheet at Dec. 31, 2010, showed
$296.21 million in total assets, $529.66 million in total
liabilities, and a $233.45 million shareholders' deficit.

There is substantial doubt about the Company's ability to continue
as a going concern.  The report of the Company's independent
registered public accountants BDO USA, LLP, included in the
Company's Annual Report on Form 10-K for the fiscal year ended
March 31, 2010, includes an explanatory paragraph related to the
Company's ability to continue as a going concern.

The Company incurred a net loss of $283.61 million on
$152.22 million of net revenue for 12 months ended March 31, 2010,
compared with a net loss of $313.63 million on $312.33 million of
revenue in the same period in fiscal 2009.  The Company reported a
net loss of $34.60 million on $3.38 million of net revenue for
three months ended June 30, 2010, compared with a net loss of
$53.95 million on $6.30 million of revenue in the same period in
2009.


LAPAHANA LLC: Case Summary & 2 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Lapahana LLC
        8647 Salem Unity Road
        Salem, OH 44460

Bankruptcy Case No.: 11-42353

Chapter 11 Petition Date: August 8, 2011

Court: U.S. Bankruptcy Court
       Northern District of Ohio (Youngstown)

Judge: Kay Woods

Debtor's Counsel: John H. Chaney, III, Esq.
                  DANIEL DANILUK LLC
                  1129 Niles-Cortland Road
                  Warren, OH 44484
                  Tel: (330) 609-9999
                  Fax: (330) 609-9990
                  E-mail: jchaney@daniluklaw.com

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

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

A list of the Company's two largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/ohnb11-42353.pdf

The petition was signed by Linda Dinsio, president.


LAVATEC INC: Goudkuil Buys Business Out of Chapter 11
-----------------------------------------------------
Laundry and Cleaning News reports that Goudkuil Laundry Machinery
of Apeldoorn, Holland, has bought the assets and business
operations of Lavatec Inc. of Naugatuck, Connecticut.

According to the report, Albert Goudkuil, who becomes Lavatec
Inc.'s president, said the acquisition brings the USA company
out of Chapter 11 bankruptcy.  He added that following the
acquisition, the Goudkuil group will continue to do business under
the Lavatec Inc. name and from the same factory and premises that
that company has occupied during the past 24 years.

Lavatec Inc's staff, including the sales force and service
technicians experienced in handling the equipment, will remain
with the Dutch employers.

Connecticut-based Lavatec, Inc., manufactures industrial laundry
equipment with installations across the U.S. The Company filed for
Chapter 11 bankruptcy protection (Bankr. D. Conn. Case No. 09-
32004) on July 24, 2009.  Dean W. Baker, Esq., at Law Offices of
Dean W. Baker assists the Company in its restructuring efforts.
Lavatec disclosed $3.5 million in assets and $5.5 million in
debts.


LEE ENTERPRISES: Incurs $155.4 Million Net Loss in June 30 Qtr.
---------------------------------------------------------------
Lee Enterprises, Incorporated, filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $155.44 million on $187.30 million of total operating
revenue for the 13 weeks ended June 26, 2011, compared with net
income of $10.04 million on $196.40 million of total operating
revenue for 13 weeks ended June 27, 2010.

The Company also reported a net loss of $137.91 million on
$573.70 million of total operating revenue for the 39 weeks ended
June 26, 2011, compared with net income of $40.98 million on
$591.98 million of total operating revenue for the 39 weeks ended
June 27, 2010.

The Company's balance sheet at June 26, 2011, showed $1.18 billion
in total assets, $1.26 billion in total liabilities, and a
$75.71 million total deficit.

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

                        http://is.gd/okeznW

                       About Lee Enterprises

Lee Enterprises, Inc., headquartered in Davenport, Iowa, publishes
the St. Louis Post Dispatch and the Arizona Daily Star along with
more than 40 other daily newspapers and about 300 weeklies.
Revenue for the 12 months ended December 2010 was approximately
$780 million.

                           *     *     *

As reported by the Troubled Company Reporter on May 16, 2011,
Standard & Poor's lowered its preliminary corporate credit rating
on Lee to 'B-' from 'B'.  The rating outlook is negative. "The
downgrade is based on the company's significant near-term
maturities and our belief that alternative refinancing options
will likely be costly," said Standard & Poor's credit analyst Hal
F. Diamond.  "We withdrew our 'B' preliminary issue rating on Lee
Enterprises' proposed $680 million first-lien senior secured notes
due 2017 with a preliminary recovery rating of '3' (also
withdrawn), indicating our expectation of meaningful (50%-70%)
recovery for lenders in the event of a payment default," S&P
related.

As reported by the TCR on May 6, 2011, Moody's withdrew its
ratings on Lee after the publisher cancelled a planned refinancing
that would have included the upsizing of its first lien senior
secured notes due 2017 to $680 million from $675 million, and
shifting of the coupon on the $375 million senior secured notes
due 2018 to a cash/PIK combination from all cash.  Moody's had
previously assigned Caa1 Corporate Family Rating on Lee.


LEHMAN BROTHERS: BNP Paribas Supports Plan Disclosures
------------------------------------------------------
BNP Paribas has expressed support for the approval of the
disclosure statement describing the revised Chapter 11 plan of
Lehman Brothers Holdings Inc. and its affiliated debtors, saying
the disclosure statement contains "adequate information."

BNP Paribas is one of the Lehman creditors that entered into a
plan support agreement with LBHI.  Under the PSA, BNP Paribas is
required to file a statement in support of the approval of the
disclosure statement.

LBHI and its affiliated debtors filed a third version of their
Chapter 11 plan of reorganization with the U.S. Bankruptcy Court
for the Southern District of New York in June, which would enable
them to pay an estimated $65 billion to their creditors.

Under the proposed plan, LBHI's senior unsecured creditors which
have an estimated $83.724 billion in claims would recover 21.1%
of their claims, down from 21.4% in the previous proposal filed
by the company early this year.  Meanwhile, the company's general
unsecured creditors, which have an estimated $11.39 billion in
claims, would recover 19.9% of their claims, up from 19.8% in the
prior proposal.

The proposed plan also provides that a portion of the money owed
to creditors of LBHI's subsidiaries will be reallocated to the
company's creditors.  Creditors of Lehman subsidiaries also
consented to a cap on some of their claims.

LBHI's proposed plan has much broader support from creditors than
its previous proposals.  Thirty institutions and certain of their
affiliates have reportedly executed the PSAs, which include
substantially all of the proponents of the two competing plans
that were proposed earlier this year.

The proponents of the rival plans have agreed to hold those plans
in abeyance while LBHI moves forward toward approval of the
disclosure statement and confirmation of its restructuring plan.

In a related development, Lehman creditors, Linda Neufeld and
Chris Stovic opposed the approval of the disclosure statement,
saying it contains financial inconsistencies and questionable
asset valuations, does not disclose the final allowed claims and
net recovery for each Lehman unit, among other reasons.

Judge James Peck is set to hold a hearing on August 30, 2011, to
consider approval of the disclosure statement.

                    About Lehman Brothers

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

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

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

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

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

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

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

               International Operations Collapse

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

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

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


LEHMAN BROTHERS: Barclays Again Seeks Dismissal of $500MM Suit
--------------------------------------------------------------
Barclays Capital Inc. is again asking Judge James Peck to dismiss
a lawsuit filed by Lehman Brothers Holdings Inc. to recover its
remaining claim for $500 million in allegedly unpaid bonuses to
former employees.

LBHI previously asked the bankruptcy judge to rule on its claim,
alleging that Barclays did not pay all of the $2 billion in
bonuses the U.K. bank agreed to when it bought the company's
North American business in 2008.  The company said that the $2
billion figure solely applies to bonuses and since only $1.5
billion of it were in actual bonuses, Barclays still owes an
additional $500 million.

"LBHI argues that while the $2 billion may 'originally' have been
an estimate, it later became a contractual obligation," said
Barclays' lawyer, Jonathan Schiller, Esq., at Boies Schiller &
Flexner LLP, in New York.  "That assertion is illogical and
impossible to support."

Mr. Schiller contended that if Barclays had contractually agreed
with LBHI on September 16, 2008, that it would pay exactly $2
billion solely in bonuses, then LBHI would not have told the
bankruptcy judge three days later that the $2 billion was an
"estimated" amount of Barclays' exposure for Lehman workers who
accepted its offers of employment and who would receive not just
bonuses but other types of compensation.

Judge Peck did touch on the bonuses in his February decision,
echoing LBHI's argument that the asset-purchase agreement only
referred to bonuses.  Barclays lawyers, however, contended that
several witnesses during the trial made it clear that the $2
billion was just an estimate and that it referred to all types of
compensation, not just bonuses, according to an August 8, 2011
report by The Wall Street Journal.

Judge Peck will hear oral argument on September 7, 2011, on
LBHI's and Barclays' motions for summary judgment with respect to
the company's claim for breach of contract under Count II of its
complaint.  The claim seeks payment of $500 million in damages
for Barclays' failure to pay the bonuses of Lehman employees in
full.

The deadline for Barclays to file an answer, if any is required
after the motions for summary judgment are decided, to the
complaint was adjourned from August 15, 2011 to 30 days after
entry of a court order disposing those motions.

Lehman Brothers Holdings, Inc., filed a memorandum of law in
further support of its motion for summary judgment on its breach
of contract claim against Barclays Capital Inc.

LBHI's breach of contract claims arises from Barclays' failure to
pay the full and specified amount it was required to pay under
the Asset Purchase Agreement -- i.e. $20 billion in bonuses to
transferred Lehman employees -- as part of the consideration for
Barclays' purchase of LBHI's North American broker-dealer
business.

LBHI insists that Judge Peck's findings in its February 22, 2011
Opinion establish the elements of this contractual claim,
warranting summary judgment against Barclays.

William J. Hine, Esq., at Jones Day, in New York, argues that
Barclays' opposition is in effect a thinly disguised -- and
wholly improper -- motion for reconsideration, whereby Barclays
seeks to relitigate issues the Court has already decided after
months of trial followed by the parties' submission of detailed
proposed findings of fact.  Mr. Hine adds that Barclays also
seeks to undermine the Court's well-supported findings by
offering substitute evidence to change what it offered at trial.

As an example, Mr. Hine cites, Barclays apparently now wants to
change the trial testimony of Paul Exall, the witness Barclays
itself called to testify about bonus payments.  Barclays, he
asserts, is bound by Exall's admissions at trial and at his
pretrial deposition where, among other things, Exall was
Barclays' Rule 30(b)(6) witness.  Barclays, Mr. Hines adds, is
also bound by the testimony of its other employees and agents,
like PricewaterhouseCoopers.

LBHI also points out that Barclays offered arguments it never
raised at trial, although it had ample opportunity to do so.
Among these new arguments are:

  -- purported "ambiguity" in the APA, which ignores the
     admissions of Barclays own witnesses, who provided the
     Court with ample evidence about their understanding of the
     APA, and certainly enough to resolve any potential
     "ambiguity;"

  -- that the Court's findings have no collateral estoppel
     effect, contending, quite incorrectly, that parties that
     have lost motions can never assert estoppel over prevailing
     parties, even with regard to particular factual findings
     that did not go the prevailing party's way;

  -- that Barclays cannot be bound by any of the Court's
     findings in the Rule 60(b) trial because, as the prevailing
     party on the Rule 60 motion as a whole, Barclays
     purportedly has no right to appeal them; and

  -- that LBHI has suffered no harm from Barclays' breach of
     Paragraph 9.1(c) of the APA.

                          *     *     *

Barclays Capital Inc., Barclays Bank plc and James W. Giddens,
the trustee for the liquidation of Lehman Brothers Inc., entered
into a court-approved stipulation agreeing to the joinder of
Barclays Bank as party to the contested matters and adversary
proceedings relating to the sale of LBHI's North American assets.

In a separate court-approved stipulation, the parties agreed as
to the necessary security to be provided so as to eliminate any
risk that a final, non-appealable judgment will not be satisfied.
The parties have also agreed to stay enforcement of the judgments
on the dispute relating to the "margin assets" and the "clearance
box assets" pending appeal.

To recall, the Trustee was awarded judgment against Barclays in
the sum of $2.054 billion plus 5% interest per annum from
Sept. 22, 2008, to the date the judgment was entered.  Barclays
was also awarded judgment against the Trustee in the sum of
$1.1 billion.

                    About Lehman Brothers

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

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

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

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

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

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

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

               International Operations Collapse

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

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

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


LEHMAN BROTHERS: Appeals 2008 Order Due to Barclays Windfall
------------------------------------------------------------
Lehman Brothers Holdings Inc. and the Official Committee of
Unsecured Creditors are appealing a bankruptcy judge's ruling
denying their motions to modify his 2008 sale order.

Judge James Peck of the U.S. Bankruptcy Court for the Southern
District of New York denied the motions to revise his prior
ruling, which authorized the sale of LBHI's North American
broker-dealer business to Barclays plc.

LBHI and the Creditors' Committee accused Barclays plc of
receiving possibly $12 billion in excess assets that were never
disclosed when it bought the broker-dealer business.  An
investigation conducted by LBHI showed that the deal was actually
structured to give Barclays "immediate and enormous windfall
profit."

LBHI, in another appeal, also asked the U.S. District Court for
the Southern District of New York to reconsider another decision
by the bankruptcy judge, which ordered the dismissal of Count
III, Count IV, Count V, Count VI and Count IX of the complaint
filed by the company in connection with the 2008 sale.

                    About Lehman Brothers

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

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

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

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

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

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

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

               International Operations Collapse

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

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

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


LEHMAN BROTHERS: Brokerage Wants Payback to Start Soon
------------------------------------------------------
James Giddens, the trustee overseeing the liquidation of Lehman
Brothers Holdings Inc.'s brokerage hopes to start repaying some
creditors by year's end," according to an August 9, 2011 report
by The Wall Street Journal.

At the "State of the Estate" address in the U.S. Bankruptcy Court
for the Southern District of New York, Mr. Giddens told Judge
James Peck that he controls a $20.6 billion pool of assets to
repay creditors but how those funds will be divided between the
brokerage and customers is yet to be determined.

Mr. Giddens emphasized that a "substantial shortfall," meaning
creditors other than individual brokerage customers will not
receive anything near 100% of their claims, The Journal reported.
A lawyer for the trustee, James Kobak, Esq., at Hughes Hubbard &
Reed LLP, in New York, said the bulk of the $20.6 billion in
assets will probably go to customers, according to an August 9,
2011 report by Reuters.

Mr. Giddens said that after sorting through duplicate and
rejected creditor claims, the claims are down to $97 billion from
a prior estimate of more than $144 billion.  About $12.2 billion
of the $97 billion are considered to be "allowed" and an
additional $42.8 billion are still unresolved.  The unresolved
claims are largely from Lehman affiliates including $17 billion
from U.K.-based Lehman Brothers International Europe and $8
billion from LBHI.

Mr. Kobak said the litigation over claims against LBIE could be a
significant "drag" on paying back creditors because of a trial
over a $13.9 billion claim that is not scheduled to begin until
2013.  Lawyers for both the trustee and LBIE said they have been
meeting regularly to talk about the settlement of that large
claim, according to The Journal report.

At the heart of the trustee-LBIE dispute is the issue of whether
money held on behalf of foreign affiliates can be considered
customer money. If allowed, the claim could eat up a significant
portion of the brokerage's resources for paying back its
customers.

Mr. Kobak said that regardless of the outcome of the dispute, the
brokerage won't be able to make significant payouts on the $47.5
billion in general creditor claims, which face an "inevitable"
shortfall, Reuters reported.

A full-text copy of Mr. Giddens' August 9 report about the state
of the brokerage estate is available for free at:

  http://bankrupt.com/misc/LBHI_StateLBIEstate081011.pdf

                    About Lehman Brothers

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

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

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

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

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

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

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

               International Operations Collapse

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

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

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


LEHMAN BROTHERS: Proposes to Create 2 Credit-Worthy Guarantors
--------------------------------------------------------------
Lehman Brothers Holdings Inc. and its affiliated debtors seek
approval from the U.S. Bankruptcy Court for the Southern District
of New York to create two auditable entities to serve as
guarantors and provide $50 million in cash to each guarantor.

Prior to their bankruptcy filing, the Debtors and their
controlled subsidiaries held a portfolio of real estate-related
assets as collateral.  Some of these assets were used to secure
mortgages or other loans.

Although they are non-recourse, most mortgage loans require that
the borrower and its principals or a credit-worthy entity
executes a non-recourse carve out guaranty.  The guaranty
requires the guarantor to pay the lender damages that the latter
incurs in case the borrower takes certain actions.  The
guaranties either convert a non-recourse loan into a full
recourse loan against the borrower or guarantor, or provide for
corporate liability against them if the borrower commits bad
actions, which include obtaining any subordinate financing or
lien on the property, opposing foreclosure, among other things.

In order for a lender to accept an entity as a guarantor, the
entity is required to be credit-worthy, which means that it must
meet a minimum liquidity threshold, have a minimum net worth, and
be able to provide audited financial statements.

Prior to September 15, 2008, most of the Debtors' real estate
interests were placed in special purpose entities and the Debtors
would use Property Asset Management Inc. as the credit-worthy
guarantor.  Because PAMI is an indirect subsidiary of LBHI,
lenders and services typically waived the requirement for audited
financial statements.

During their bankruptcy, the Debtors began to foreclose on some
of their collateral.  As a result of these foreclosures, the
Debtors are now the holder of equity in the owner of many real
estate-related projects and are required by an intercreditor
agreement with the senior lender to substitute the original
equity holder guaranty with their own guaranty.  In other
circumstances, the Debtors are able to negotiate a consensual
delivery of the ownership entity from their mezzanine borrowers
but are unable to consummate the closing because they cannot
provide the senior lender with a substitute guarantor.

Further, in order to provide the estate with additional
liquidity, the Debtors sought to obtain third party non-recourse
mortgage financing for certain real estate properties but had
been thwarted because they could not provide the third-party
lender with the required credit-worthy guarantor to execute the
non-recourse carve out guaranty.

Alfredo Perez, Esq., at Weil Gotshal & Manges LLP, in Houston,
Texas, says there are no entities in the Lehman enterprise that
are capable of serving as credit-worthy guarantors as all of them
are insolvent, fail the minimum net-worth tests, or cannot be
audited without significant cost to the estates.

The absence of such a guarantor could lead to the senior lender
declaring a technical default on the underlying loan, Mr. Perez
tells the Court.  In such circumstances the Debtors are faced
with the choice of paying off the loan at par or walking away
from their investment.  Furthermore, there are also situations
where having a credit-worthy guarantor could enhance or
accelerate recoveries on a project by allowing borrowing such as
construction financing, according to Mr. Perez.

In light of this, the Debtors intend to establish two entities to
act as credit-worthy guarantors and fund each of those entities
with approximately $50 million to meet the required net-worth
test.  It is possible, however, that circumstances will require
an additional capital contribution investment of up to
$50 million to each guarantor entity.  Hence, the Debtors intend
to establish the entities and capitalize each up to $50 million,
subject to their ability to increase the capitalizing by
$50 million to each entity without further court approval.

The Court will hold a hearing on August 17, 2011, to consider
approval of the request.  The deadline for filing objections is
August 10, 2011.

                    About Lehman Brothers

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

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

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

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

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

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

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

               International Operations Collapse

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

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

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


LEVELLAND/HOCKLEY: Court OKs Block & Garden as Bankruptcy Counsel
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas has
approved Levelland/Hockley County Ethanol's application to employ
Block & Garden, LLP, as general bankruptcy counsel, nunc pro tunc
to the Petition Date.

The Debtor has selected B&G as general counsel because of its
attorneys' experience in Chapter 11 matters.

The services of B&G are necessary to enable Debtor to execute its
duties as Chapter 11 debtor in possession.  On an interim basis
and subject to further order of this Court, B&G will be required
to render, among others, these professional services to the
Debtor:

     a. advise and consult with LHCE in connection with its rights
        and duties as debtor in possession under the Bankruptcy
        Code, including advice in connection with matters of the
        administration of the estate and the proposal of a plan of
        reorganization and in matters arising from or related to
        confirmation and consummation of a plan;

     b. advise and assist LHCE in preparation of documents,
        schedules, statements, lists, reports and other matters
        required under the Bankruptcy Code and Bankruptcy Rules to
        be filed, and to coordinate with LHCE in preparation of
        reporting required by the U.S. Trustee's office;

     c. advise LHCE concerning and represent it in the conduct of
        the Bankruptcy Case, and as a complex chapter 11
        proceeding as the Bankruptcy Court may order, including
        preparation of notices to creditors, conducting hearings
        on First Day matters, maintenance of service lists, and
        other matters under such rules;

     d. advise and consult with LHCE on preservation of the
        bankruptcy estate and its rights and remedies with regard
        to the assets of the bankruptcy estate and in evaluation
        and conduct with respect to the claims of secured and
        unsecured creditors, and the interests of members of the
        LLC;

     e. to appear for, prosecute, defend, and represent LHCE's
        interests in contested matters and adversary proceedings
        arising from or related to the Bankruptcy Case, and to
        assist in the preparation of such pleadings, petitions,
        applications and orders as LHCE shall be required to
        prepare for the orderly administration of this case;

     f. to counsel LHCE with respect to obtaining, negotiating,
        documenting and seeking approval of matters relating to
        the use of cash collateral of pre-petition secured
        lenders, as to post-petition financing matters, and other
        post-petition operating issues;

     g. to represent LHCE before this Court and other courts of
        competent jurisdiction related to the Bankruptcy case; and

     h. to counsel LHCE with respect to the myriad of bankruptcy
        and other issues related to the Bankruptcy Case, and to
        perform other legal services that are necessary and
        desirable to its prosecution.

The current hourly rates of the principal attorneys presently
designated to represent the Debtors are:

     I. Richard Levy         Shareholder     $450 per hour
     Christopher McNeill     Shareholder     $400 per hour
     Susan Frierott          Associate       $300 per hour

Other shareholders, associates staff counsel and paraprofessionals
of B&G may from time to time assist in the representation of
Debtor in connection with these cases.  Billing rates for B&G's
other attorneys range from $225 per hour to $500 per hour.
Paraprofessionals normally are billed at $125 to $175 per hour.

I. Richard Levy, Esq., a shareholder at Block & Garden, LLP,
assured the Court that the firm is a "disinterested person" within
the meaning of Section 101(14) of the Bankruptcy Code.

                     About Levelland Ethanol

Levelland/Hockley County Ethanol LLC is a Texas limited liability
company that owns and operates a 40 million gallon per annum
Ethanol production plant located in Levelland, Hockley county,
Texas.  The LLC has over 100 members many of whom are local
farmers, business people and civic leaders.  A recent appraisal
Of its facility values its assets, with the Plant under full
operation, at over $51.5 million.

Levelland Ethanol filed for Chapter 11 bankruptcy (Bankr. N.D.
Tex. Case No. 11-50162) on April 27, 2011.  The Debtor is
represented by I. Richard Levy at Block & Garden, LLP, in Dallas.
The Debtor disclosed total assets of $60,451,124 and total
liabilities of $47,557,432 in its schedules.


LIBBEY INC: Reports $15.4 Million Net Income in Second Quarter
--------------------------------------------------------------
Libbey Inc. filed with the U.S. Securities and Exchange Commission
its quarterly report on Form 10-Q, reporting net income of
$15.40 million on $214.01 million of net sales for the three
months ended June 30, 2011, compared with net income of $9.56
million on $203.03 million of net sales for the same period during
the prior year.

The Company also reported net income of $14.40 million on $395.02
million of net sales for the six months ended June 30, 2011,
compared with net income of $64.97 million on $376.94 million of
net sales for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $815.25
million in total assets, $767.39 million in total liabilities and
$47.85 million in total shareholders' equity.

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

                        http://is.gd/GWGpx8

                         About Libbey Inc.

Based in Toledo, Ohio, since 1888, Libbey, Inc., operates glass
tableware manufacturing plants in the United States in Louisiana
and Ohio, as well as in Mexico, China, Portugal and the
Netherlands.  Libbey supplies tabletop products to foodservice,
retail, industrial and business-to-business customers in over 100
countries.

                         *     *     *

On Oct. 28, 2009, Libbey restructured a portion of its debt
by exchanging the old 16% Senior Subordinated Secured Payment-in-
Kind Notes due December 2011 of subsidiary Libbey Glass Inc.,
having an outstanding principal amount as of October 28, 2009, of
$160.9 million for (i) $80.4 million principal amount of new
Senior Subordinated Secured Payment-in-Kind Notes due 2021 of
Libbey Glass, and (ii) 933,145 shares of common stock and warrants
exercisable for 3,466,856 shares of common stock of Libbey Inc.

On Feb. 8, 2010, Libbey used the proceeds of a $400.0 million
debt offering of 10.0% Senior Secured Notes due 2015 of Libbey
Glass Inc., as well as cash on hand, to (i) repurchase the
$306.0 million then outstanding Floating Rate Senior Secured Notes
due 2011 of Libbey Glass, (ii) repay the $80.4 million New PIK
Notes and (iii) pay related fees and expenses.  Concurrent with
the closing of the offering of the Senior Secured Notes, Libbey
entered into an amended and restated $110 million Asset Based Loan
facility which, among other terms, extended the maturity date to
2014.

As reported by the TCR on Aug. 9, 2011, Standard & Poor's Ratings
Services raised its corporate and senior secured debt ratings on
Toledo, Ohio-based Libbey Inc. to 'B+' from 'B'.  The rating
outlook is stable.  "The upgrade and stable outlook reflect our
belief that Libbey will sustain its improved profitability and
credit measures and maintain its adequate liquidity position,"
said Standard & Poor's credit analyst Rick Joy.


LIBBEY INC: Registers 1.46MM Common Shares Under Incentive Plan
---------------------------------------------------------------
Libbey Inc. filed with the U.S. Securities and Exchange Commission
a Form S-8 registration statement registering 1,460,000 shares of
common stock to be issued under the Amended and Restated Libbey
Inc. 2006 Omnibus Incentive Plan.  A full-text copy of the
prospectus is available for free at http://is.gd/DUAXKa

                         About Libbey Inc.

Based in Toledo, Ohio, since 1888, Libbey, Inc., operates glass
tableware manufacturing plants in the United States in Louisiana
and Ohio, as well as in Mexico, China, Portugal and the
Netherlands.  Libbey supplies tabletop products to foodservice,
retail, industrial and business-to-business customers in over 100
countries.

The Company's balance sheet at June 30, 2011, showed $815.25
million in total assets, $767.39 million in total liabilities and
$47.85 million in total shareholders' equity.

                         *     *     *

On Oct. 28, 2009, Libbey restructured a portion of its debt
by exchanging the old 16% Senior Subordinated Secured Payment-in-
Kind Notes due December 2011 of subsidiary Libbey Glass Inc.,
having an outstanding principal amount as of October 28, 2009, of
$160.9 million for (i) $80.4 million principal amount of new
Senior Subordinated Secured Payment-in-Kind Notes due 2021 of
Libbey Glass, and (ii) 933,145 shares of common stock and warrants
exercisable for 3,466,856 shares of common stock of Libbey Inc.

On Feb. 8, 2010, Libbey used the proceeds of a $400.0 million
debt offering of 10.0% Senior Secured Notes due 2015 of Libbey
Glass Inc., as well as cash on hand, to (i) repurchase the
$306.0 million then outstanding Floating Rate Senior Secured Notes
due 2011 of Libbey Glass, (ii) repay the $80.4 million New PIK
Notes and (iii) pay related fees and expenses.  Concurrent with
the closing of the offering of the Senior Secured Notes, Libbey
entered into an amended and restated $110 million Asset Based Loan
facility which, among other terms, extended the maturity date to
2014.

As reported by the TCR on Aug. 9, 2011, Standard & Poor's Ratings
Services raised its corporate and senior secured debt ratings on
Toledo, Ohio-based Libbey Inc. to 'B+' from 'B'.  The rating
outlook is stable.  "The upgrade and stable outlook reflect our
belief that Libbey will sustain its improved profitability and
credit measures and maintain its adequate liquidity position,"
said Standard & Poor's credit analyst Rick Joy.


LIONEL YOW: Files for Chapter 11 Bankruptcy Protection
------------------------------------------------------
Lionel L. Yow filed a Chapter 11 bankruptcy petition (Bankr.
E.D.N.C. Case No. 11-06011) on Aug. 5, 2011.

Wayne Faulkner at StarNewsOnline.com reports that Mr. Yow, a
Wilmington developer, is facing claims by TD Bank for $6.6 million
for Dockside WB Investments LLC, and $4.33 million by Wells Fargo
Bank for Surf City Investments LLC.

According to the report, Mr. Yow's filing follows that of business
partner John A. Elmore II.  Both developed Porters Neck, Shell
Island, Masonboro Forest and numerous other projects in the area.

Mr. Faulkner relates that Mr. Yow also is a partner in the popular
Dockside restaurant on Airlie Road near the Wrightsville Beach
drawbridge and the Beach House Marina project in Surf City.

The report says claims are $4.13 million from Rialto Bank for
Lighthouse Cove Development Corp. and Lighthouse Cove LLC; as well
as from First Bank for various entities associated with the
Hawkeswater development in Belville.

Trawick "Buzzy" Stubbs, Esq., represents Mr. Yow.


LODGENET INTERACTIVE: Files Form 10-Q; Incurs $2.9-Mil. Q2 Loss
---------------------------------------------------------------
LodgeNet Interactive Corporation filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q,
reporting a net loss of $2.92 million on $106.63 million of total
revenues for the three months ended June 30, 2011, compared with a
net loss of $3.14 million on $113.07 million of total revenues for
the same period during the prior year.

The Company also reported a net loss of $3.83 million on
$214.36 million of total revenues for the six months ended
June 30, 2011, compared with a net loss of $5.64 million on
$231.12 million of total revenues for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed
$419.22 million in total assets, $470.10 million in total
liabilities, and a $50.87 million total stockholders' deficiency.

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

                        http://is.gd/IiqLNz

                     About LodgeNet Interactive

Sioux Falls, South Dakota-based LodgeNet Interactive Corporation
(Nasdaq:LNET), formerly LodgeNet Entertainment Corp. --
http://www.lodgenet.com/-- provides media and connectivity
solutions designed to meet the unique needs of hospitality,
healthcare and other guest-based businesses.  LodgeNet Interactive
serves more than 1.9 million hotel rooms worldwide in addition to
healthcare facilities throughout the United States.  The Company's
services include: Interactive Television Solutions, Broadband
Internet Solutions, Content Solutions, Professional Solutions and
Advertising Media Solutions.  LodgeNet Interactive Corporation
owns and operates businesses under the industry leading brands:
LodgeNet, LodgeNetRX, and The Hotel Networks.

The Company reported a net loss of $11.68 million on $452.17
million of total revenues for the year ended Dec. 31, 2010,
compared with a net loss of $10.15 million on $484.49 million of
total revenue during the prior year.

                        *     *     *

Lodgenet carries a 'B3' long term corporate family rating and a
'Caa1' probability of default rating, with 'stable' outlook, from
Moody's.  It has 'B' long term foreign and local issuer credit
ratings, with 'stable' outlook, from Standard & Poor's.

"In Moody's opinion, continued cautious investment from LodgeNet's
hotel customers will hamper intermediate term growth in its core
hospitality services business, and over the long term competing
forms of entertainment will pressure this revenue stream as the
company seeks to defend its relevance to both hotel operators and
hotel guests.  The B3 corporate family rating incorporates these
weak growth prospects, mitigated somewhat by the company's
moderately high financial risk profile and demonstrated capacity
to generate positive free cash flow throughout challenging
economic conditions, along with a measure of stability from the
monthly fees it receives from hotels regardless of occupancy,"
Moody's said in October 2010.


LOS ANGELES DODGERS: Committee to Hire Morrison as Counsel
----------------------------------------------------------
The Official Committee of Unsecured Creditors of the Los Angeles
Dodgers seeks permission from the U.S. Bankruptcy Court for the
District of Delaware to retain Morrison & Foerster LLP as counsel.

Upon retention, the firm, will among other things:

   -- advise the Committee in connection with its powers and
      duties under the Bankruptcy Code, the Bankruptcy Rules and
      the Local Rules;

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

   -- attend meetings and negotiate with the representatives of
      the Debtors;

The firm's rates are:


          Personnel                    Rates
          ---------                    -----
          Partners                     $600 to $950
          Counsel                      $395 to $875
          Associates                   $295 to $640
          Paralegals                   $165 to $270

               About the Los Angeles Dodgers

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

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

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

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

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

The LA Dodgers is the 12th professional sports team in North
America to have sought bankruptcy protection, and the fifth
baseball club to have done so, after the Texas Rangers in 2010;
the Chicago Cubs in 2009; the Baltimore Orioles in 1993; and the
Seattle Pilots in 1970.  The other seven teams were from the
National Hockey League, including the Phoenix Coyotes in 2009.


LOTHIAN OIL: Re-characterization of Claim Not Limited to Insiders
-----------------------------------------------------------------
The U.S. Court of Appeals for the Fifth Circuit held in an Aug. 9
decision that the bankruptcy court may recharacterize a non-
insider claim as equity rather than debt.  In In re Lothian Oil
Incorporated, Israel Grossman and a secretary of the Debtor signed
agreements in April and May 2005 that provided for Mr. Grossman to
loan funds to the Debtor.  In the April 2005 agreement, Mr.
Grossman would loan $200,000 to Lothian Oil in exchange for a 1%
royalty to the gross production Lothian Oil receives on the Webb
Properties of New Mexico, without any further investment; and
repayment of $200,000 from the proceeds of the $0.75 placement or
any other equity placements.  In the second, Mr. Grossman would
loan $150,000 to Lothian Oil in exchange for a royalty of 1% of
Lothian Oil's share of gross production of oil and gas on the Webb
properties in New Mexico without further investment to be made by
Mr. Grossman; and repayment to Grossman of the Loan from the
proceeds of a $0.75 per share equity placement made in Lothian Oil
or from the proceeds, subject always to the Sterling Bank Credit
Agreement, of any other equity placement in Lothian Oil.

Mr. Grossman later filed proofs of claim in the bankruptcy case
which were settled in an accord dated Oct. 30, 2008.  The
settlement awarded Mr. Grossman $1.025 million in full payment of
most of his claims.  Mr. Grossman remained free to seek court
determination of the value of the remaining claims, called the
"Undetermined Claims."  He did so, and on Dec. 15, 2008, the
bankruptcy court held a hearing on the Undetermined Claims. The
court rejected all of them.  In particular, it held that "proof of
claim numbers 164, 171, 172, 175, and 178 assert common equity
interests at best and that insufficient evidence of the value of
the interests was presented."  As for the remaining Undetermined
Claims, the bankruptcy court held that "proof of claim numbers
174, 179, and 180 assert claims against non-debtor entities for
which the Reorganized Debtors are not liable."

Mr. Grossman personally signed the notice of appeal to the
district court on behalf of various claimants.  The claimants'
attorney, Jessica Sokol, Esq., did not sign the document, as she
was not admitted to practice in the Western District of Texas and
had not secured a pro hoc vice admission.  The other claimants
were aware of the deficiency in their notice of appeal on or
before April 7, 2009, when the clerk of court sent a Notice of
Filing Discrepancies to several of their lawyers.  Approximately
one month later, on April 5, 2009, Lothian moved to dismiss the
appeal.  Because Mr. Grossman had no authority to sign the notice
of appeal for anyone other than himself, the district court held
that "the instant appeal must be limited to those claims, if any,
asserted by Israel Grossman personally."  Following the district
court's decision, the so-called "Other Claimants" failed to file a
notice of appeal.

The district court affirmed in part and reversed in part the
bankruptcy court's ruling.  It reversed the recharacterization of
claims 164 and 171 as equity, "declin[ing] to extend the concept
of debt recharacterization to a non-insider creditor."  The
district court cited the Fifth Circuit's 11-factor test for
distinguishing between debt and equity.  Jones v. United States,
659 F.2d 618, 622 n.12 (5th Cir. 1981).  Perceiving a rule against
recharacterization for all but "insiders," however, the district
court did not apply the factors to the Lothian case.  On all but
the recharacterization issue, the district court affirmed the
bankruptcy court's ruling in favor of the debtors.

Lothian appealed to the Fifth Circuit, challenging the district
court's recharacterization decision; Mr. Grossman cross-appealed,
contesting the remainder of the district court's holdings.  He
argues for the first time on appeal that the settlement agreement
cannot impose a cap on his recovery for the Undetermined Claims
because Lothian has opposed Mr. Grossman's efforts to recover from
third parties, negating consideration for the settlement.  The
Fifth Circuit did not reach this newly raised argument, as it is
waived.

In an Aug. 9, 2011 decision, the Fifth Circuit reversed the
district court's ruling on recharacterization.  Chief Judge Edith
H. Jones, who wrote the opinion, held that the district court
applied a per se rule to prohibit bankruptcy courts from
recharacterizing contributions from anyone but corporate insiders.
The court therefore omitted any analysis on the merits of whether
the agreements between Mr. Grossman and Lothian represent debt or
equity.  Judge Jones said recharacterization extends beyond
insiders and is part of the bankruptcy courts' authority to allow
and disallow claims under 11 U.S.C. Sec. 502.  Judge Jones said
Texas law controls the agreements underlying Mr. Grossman's claims
and held that because Texas law would not have recognized Mr.
Grossman's claims as asserting a debt interest, the bankruptcy
court correctly disallowed them as debt and recharacterized the
claims as equity interests.

The case is ISRAEL GROSSMAN, Appellee Cross-Appellant.  LISTOKIN
TRUST, SHORIVGER TRUST, AKBERALI KHAKEE PENSION PLAN, LOTHIAN
CASSIDY, L.L.C., SHOSHANA TRUST, DEUTSCH-SOKOL TRUST, ANNA MEISHER
PENSION PLAN, 731 895 866, L.L.C., PENSION SOLUTIONS, L.L.C., MYG
TRUST, HERZBERG FAMILY TRUST, JESSICA SOKOL, Cross-Appellants, v.
LOTHIAN OIL INCORPORATED, Jointly Administered Member Cases;
Lothian Oil (USA) Inc., Lothian Oil Texas I, Inc., Lothian Oil
Texas II, Inc., Lothian Oil Investments I, Inc., Lothian Oil
Investments II, Inc., and LeaD I JVGP, Inc., Appellant Cross-
Appellee, No. 10-50683 (5th Cir.).  The appellate panel consists
of Circuit Judges Jones, Patrick Errol Higginbotham and Leslie H.
Southwick.  A copy of the Fifth Circuit's decision is available at
http://is.gd/K1u1JMfrom Leagle.com.

                         About Lothian Oil

Based in Midland, Texas, Lothian Oil Inc. was a privately
owned oil and gas company.  Lothian and six affiliates filed for
chapter 11 protection on June 13, 2007 (Bankr. W.D. Tex. Case No.
07-70121).  The Debtors were represented by lawyers at Haynes and
Boone, LLP.  When Lothian sought bankruptcy, it listed assets and
debts between $1 million to $100 million.  On June 27, 2008, the
bankruptcy court confirmed a plan of liquidation.


LYMAN LUMBER: U.S. Trustee Names 5 Members to Creditors Panel
-------------------------------------------------------------
The U.S. Trustee for Region 12 appointed five creditors to the
Official Committee of Unsecured Creditors in the bankruptcy case
of Lyman Holding Company and its affiliates:

          (1) John N. Wedekind
              16765 Luther Way
              Eden Prairie, MN 55346
              Tel: (952) 949-8955

          (2) James G. Penberthy
              264 Water Street
              Excelsior, MN 55331
              Tel: (952) 474-1188

          (3) Timothy C. Reuter
              Central States Pension Fund
              9377 W. Higgins Rod
              Rosemont, IL 60018
              Tel: (847) 518-9800 Ext. 3481

          (4) Thea Dudley
              Division Credit Director
              Guardian Building Products
              979 Batesville Road
              Greer, SC 29651
              Tel: 864-281-3571

          (5) Gerald Manion
              Manion Wholesale Building Supplies Inc.
              1300 Garfield Ave PO Box 753
              Superior, WI 54880
              Tel: (715) 394-6605

John N. Wedekind has been designated as acting chairperson until
the committee can meet and elect their own chairperson.

Habbo G. Fokkena, the United States Trustee for Region 12, may be
reached through:

          Sarah J. Wencil, Esq.
          Trial Attorney
          U.S. Trustee's Office
          300 South Fourth St., #1015
          Minneapolis, MN 55415
          Tel: (612) 334-1350
          E-mail: Sarah.J.Wencil@usdoj.gov

                         About Lyman Lumber

Lyman Lumber Company sells building supplies, such as framing
beams, roofing materials, siding and drywall to residential
builders.  The 113-year old company and several affiliates sought
Chapter 11 petition (Bankr. D. Minn. Lead Case No. 11-45190) on
Aug. 4, 2011.  Judge Dennis O'Brien presides over the cases.
James L. Baillie, Esq., and Sarah M. Gibbs, Esq., at Fredrikson &
Bryon, P.A., serve as bankruptcy counsel.  Lyman Lumber estimated
$50 million to $100 million in assets and $100 million to $500
million in debts.  The petition was signed by James E. Hurd,
president and chief executive officer.

The affiliates that filed for Chapter 11 are: Lyman Holding
Company; Automated Building Components, Inc.; Building Material
Wholesalers; Carpentry Contractors Corp.; Construction Mortgage
Investors Co.; Lyman Development Co.; Lyman Lumber of Wisconsin,
Inc.; Lyman properties LLC; Mid-America Cedar, Inc.; Woodinville
Lumber, Inc.; and Woodinville Construction Services LLC.

Lyman Lumber has signed a letter of intent to sell its Midwestern
assets to SP Asset Management LLC, an affiliate of Steel Partners
Holdings L.P.  New York City-based Steel Partners is a diversified
holding company that owns and operates businesses in a variety of
industries.  The purchase price was not disclosed.


LYMAN LUMBER: Sec. 341 Creditors' Meeting Set for Sept. 9
---------------------------------------------------------
Habbo G. Fokkena, the United States Trustee for Region 12, will
convene a Meeting of Creditors pursuant to 11 U.S.C. Sec. 341(a)
in the bankruptcy cases of Lyman Lumber Company and its affiliates
on Sept. 9, 2011, at 1:30 p.m. at Mtg Minneapolis - US Courthouse,
300 S. 4th St. 10th Floor.

The last day to object to discharge is Nov. 8, 2011.  Proofs of
claim are due by Dec. 8, 2011.

                         About Lyman Lumber

Lyman Lumber Company sells building supplies, such as framing
beams, roofing materials, siding and drywall to residential
builders.  The 113-year old company and several affiliates sought
Chapter 11 petition (Bankr. D. Minn. Lead Case No. 11-45190) on
Aug. 4, 2011.  Judge Dennis O'Brien presides over the cases.
James L. Baillie, Esq., and Sarah M. Gibbs, Esq., at Fredrikson &
Bryon, P.A., serve as bankruptcy counsel.  Lyman Lumber estimated
$50 million to $100 million in assets and $100 million to $500
million in debts.  The petition was signed by James E. Hurd,
president and chief executive officer.

The affiliates that filed for Chapter 11 are: Lyman Holding
Company; Automated Building Components, Inc.; Building Material
Wholesalers; Carpentry Contractors Corp.; Construction Mortgage
Investors Co.; Lyman Development Co.; Lyman Lumber of Wisconsin,
Inc.; Lyman properties LLC; Mid-America Cedar, Inc.; Woodinville
Lumber, Inc.; and Woodinville Construction Services LLC.

Lyman Lumber has signed a letter of intent to sell its Midwestern
assets to SP Asset Management LLC, an affiliate of Steel Partners
Holdings L.P.  New York City-based Steel Partners is a diversified
holding company that owns and operates businesses in a variety of
industries.  The purchase price was not disclosed.


LYMAN LUMBER: Can Use Up to $9MM of Lenders' Cash Through Aug. 26
-----------------------------------------------------------------
Lyman Lumber Company obtained permission from the Bankruptcy Court
to use, on an interim basis beginning on the petition date and
ending Aug. 26, 2011, up to $9,259,212 of the cash collateral of
these lenders:

     * U.S. Bank National Association, as agent;
     * TCF National Bank;
     * BMO Harris Bank N.A., successor-by-merger to
       M&I Marshall & Ilsley Bank;
     * Bank of America, N.A., successor through merger to
       Bank of America National Trust & Savings Association;
     * Wells Fargo Bank, National Association;
     * JPMorgan Chase Bank, N.A.; and
     * The Prudential Insurance Company of America

As of the bankruptcy filing date, the outstanding amount of the
Debtors' obligations to the Prepetition Lenders totaled
$19,027,000, plus accrued and unpaid interest, fees, expenses, and
other Obligations, if any.  The termination date under the
Prepetition Financing Documents was Aug. 1, 2011.

As adequate protection, the lenders are granted replacement liens
on and security interests in all of the Debtors' assets.  The
liens exclude claims or causes of action under 11 U.S.C. Sections
544, 545, 547, 548, 549, or 550 but will include the proceeds of
Avoidance Actions recovered by the Debtors to the extent the court
includes those provision in the final order for use of cash
collateral.

A final cash collateral hearing will be held on Aug. 25, 2011, at
10:00 am.

In their motion, the Debtors request interim authorization to use
cash collateral through the end of the week beginning Aug. 22,
2011, and final authorization to use cash collateral through
Oct. 31, 2011.

The Debtors' motion also indicated that with respect to a putative
lien of BlueLinx Corporation, the Debtors will provide adequate
protection during the interim period by segregating and retaining
proceeds from sales of consignment stock, subject to whatever
interests BlueLinx may hold, until such time as the Debtors can
determine the validity and priority of such interests.  The
Interim Cash Collateral Order does not include a provision related
to BlueLinx.

Lyman Lumber and BlueLinx are parties to a Consignment Agreement
under which (a) vinyl siding and vinyl siding accessories and (b)
metal soffit and installation accessories are to be delivered,
stored, reported, sold, and paid for.  As of June 30, 2011, Lyman
Lumber had in its possession Consignment Stock with an approximate
value of $6,000 that was delivered prior to July 1, 2009, and
approximately $444,000 worth of Consignment Stock delivered after
that date. As of the Filing Date, Lyman Lumber estimates that the
outstanding amount due to BlueLinx on account of prepetition sales
of Consignment Stock is approximately $128,000.

The Debtors will use cash collateral to pay essential business
expenses, which include wages and benefits to employees, payroll
taxes, and sales taxes, as well as payments to utilities, trade
vendors for postpetition purchases, and other parties that supply
essential goods and services to the Debtors.

                         About Lyman Lumber

Lyman Lumber Company sells building supplies, such as framing
beams, roofing materials, siding and drywall to residential
builders.  The 113-year old company and several affiliates sought
Chapter 11 petition (Bankr. D. Minn. Lead Case No. 11-45190) on
Aug. 4, 2011.  Judge Dennis O'Brien presides over the cases.
James L. Baillie, Esq., and Sarah M. Gibbs, Esq., at Fredrikson &
Bryon, P.A., serve as bankruptcy counsel.  Lyman Lumber estimated
$50 million to $100 million in assets and $100 million to $500
million in debts.  The petition was signed by James E. Hurd,
president and chief executive officer.

The affiliates that filed for Chapter 11 are: Lyman Holding
Company; Automated Building Components, Inc.; Building Material
Wholesalers; Carpentry Contractors Corp.; Construction Mortgage
Investors Co.; Lyman Development Co.; Lyman Lumber of Wisconsin,
Inc.; Lyman properties LLC; Mid-America Cedar, Inc.; Woodinville
Lumber, Inc.; and Woodinville Construction Services LLC.

Lyman Lumber has signed a letter of intent to sell its Midwestern
assets to SP Asset Management LLC, an affiliate of Steel Partners
Holdings L.P.  New York City-based Steel Partners is a diversified
holding company that owns and operates businesses in a variety of
industries.  The purchase price was not disclosed.


LYMAN LUMBER: Asks Court to Approve Fredrikson & Byron Hiring
-------------------------------------------------------------
Lyman Lumber Company and its affiliate debtors ask the Court to
approve their employment of Fredrikson & Byron, P.A., as
bankruptcy counsel.

Fredrikson & Byron is currently among the three largest law firms
in Minnesota, with annual revenues exceeding $100 million.

The Debtors said they have paid Fredrikson & Byron a retainer of
$260,000 prior to filing to secure payment for services provided
prior to the Chapter 11 cases.  The Prepetition Retainer was paid
by Lyman Lumber Company in April 2008 and July 2008 on behalf of
all of the Debtors and has been held continuously since then.  In
the days leading up to the Filing Date, Fredrikson & Byron applied
$109,960.90 of the Prepetition Retainer to outstanding prepetition
fees which were incurred in the roughly 30 days before the Filing
Date and the Debtors funded a "Chapter 11 Retainer" with the
injection of $122,420.90 in new funds plus the remaining balance
of the Prepetition Retainer.  The Chapter 11 Retainer balance is
$272,468.00.

The Debtors have agreed that Fredrikson & Byron will hold the
Chapter 11 Retainer in trust for application against its final
allowed fees, the case filing fees, and the fees and expenses
incurred in the several days prior to the Filing Date, which may
not have been fully paid pre-filing.  Because the petitions in
these cases were filed on an emergency basis, the Debtors were
unable to pay fees and expenses incurred in the 7-10 days prior to
the Filing Date in connection with the preparations for
bankruptcy.

James L. Baillie, Esq., a shareholder at Fredrikson & Byron, said
the Debtors have paid to the firm fees and expenses in excess of
$1.5 million, including fees and expenses in the 90 days prior to
the filing date.  The Debtors also provided to Fredrikson & Byron
$10,000 to be paid to a public relations firm to provide
assistance regarding communications with vendors, customers,
employees and other constituents, which Fredrikson & Byron paid on
Aug. 4, 2011, to the public relations firm as a non-refundable fee
for services provided and to be provided.  To the extent that the
Debtors require services beyond those already paid, they will file
an application to employ the public relations firm.

Mr. Baillie disclosed that his firm currently represents
Lighthouse Management Group, Inc., a consultant to the Debtors'
Prepetition Lenders in the bankruptcy cases, on matters unrelated
to the Debtors.  From time to time in the past, Fredrikson & Byron
has represented Alliance Management, a consultant to the Debtors
in these cases, on matters unrelated to the Debtors.

Mr. Baillie attests that Fredrikson & Byron does not hold or
represent any interest adverse to the estate, and Fredrikson &
Byron is a "disinterested person," within the meaning of 11 U.S.C.
Sec. 327(a).

                         About Lyman Lumber

Lyman Lumber Company sells building supplies, such as framing
beams, roofing materials, siding and drywall to residential
builders.  The 113-year old company and several affiliates sought
Chapter 11 petition (Bankr. D. Minn. Lead Case No. 11-45190) on
Aug. 4, 2011.  Judge Dennis O'Brien presides over the cases.
Lyman Lumber estimated $50 million to $100 million in assets and
$100 million to $500 million in debts.  The petition was signed by
James E. Hurd, president and chief executive officer.

The affiliates that filed for Chapter 11 are: Lyman Holding
Company; Automated Building Components, Inc.; Building Material
Wholesalers; Carpentry Contractors Corp.; Construction Mortgage
Investors Co.; Lyman Development Co.; Lyman Lumber of Wisconsin,
Inc.; Lyman properties LLC; Mid-America Cedar, Inc.; Woodinville
Lumber, Inc.; and Woodinville Construction Services LLC.

Lyman Lumber has signed a letter of intent to sell its Midwestern
assets to SP Asset Management LLC, an affiliate of Steel Partners
Holdings L.P.  New York City-based Steel Partners is a diversified
holding company that owns and operates businesses in a variety of
industries.  The purchase price was not disclosed.


MACCO PROPERTIES: NBC to Take Over Oklahoma and Texas Assets
------------------------------------------------------------
The Hon. Niles Jackson of the U.S. Bankruptcy Court for the
Western District of Oklahoma NBC is granted NBC Oklahoma Bank
relief from the automatic stay to permit it to enforce its state
law rights with respect to its collateral including these real
properties:

   All of Lot 7 Block 36B in Blocks 36A and 36B, Nichols
   Hills, Oklahoma County, Oklahoma;

                 and

   Unit 18D, and the space encompassed by the boundaries
   thereof, the limited common elements appurtenant thereto,
   together with an 0.114% undivided interest in the
   general common elements located in and being part of The
   Claridge, a condominium project in the City of Dallas,
   Dallas County, Texas.

NBC is a secured creditor of Macco pursuant to two promissory
notes executed by MACCO in favor of NBC.  The Notes, which have a
combined balance (including taxes) of roughly $2,510,000, are
secured by property with a combined estimated value of
approximately $2,650,000.  The value of the Oklahoma Property is
believed to be $1,650,000, and the value of the Texas Property is
believed to be $1,000,000.

According to NBC, its interests in the Oklahoma Property and the
Texas Property are not adequately protected.  Given the values of
the Oklahoma Property and the Texas Property, NBC is entitled to
claim interest accruing at the contract rate under the terms of
the Notes.  However, given the rates of accrual, NBC's slim equity
cushions in the Oklahoma Property and the Texas Property are
rapidly evaporating.  Additionally, unpaid property taxes in
Oklahoma and Texas are accruing interest and penalties that are
further eroding NBC's equity cushion.

                      About Macco Properties

Oklahoma City, Oklahoma-based Macco Properties, Inc., filed for
Chapter 11 bankruptcy protection (Bankr. W.D. Okla. Case No. 10-
16682) on Nov. 2, 2010.  G. Rudy Hiersche, Jr., Esq., at the
Hiersche Law Firm, serves as the Debtor's bankruptcy counsel.  The
Debtor disclosed $50,823,581 in total assets, and $4,323,034 in
total liabilities.

Richard A. Wieland, the U.S. Trustee for Region 20, appointed
three
members to the Official Committee of Unsecured Creditors.  The
Committee is represented by Ruston C. Welch, at Welch Law Firm,
P.C., in Oklahoma City,
Oklahoma.  The Committee tapped Dennis Maley, CPA, as accountant.

Receivership Services Corp., a division of the Martens Cos., has
been named by the Court as property manager for the six Wichita
apartment complexes caught up in the bankruptcy of Macco
Properties of Oklahoma City.

W. Thomas Gilman of the firm of Redmond & Nazar, LLPC serves as
special counsel to Michael E. Deeba, Chapter 11 trustee.  Price
Edwards & Company serves as trustee's property manager.


MACCO PROPERTIES: Trustee May Use Settlement Funds to Pay Expenses
------------------------------------------------------------------
The Hon. Niles Jackson of the U.S. Bankruptcy Court for the
Western District of Oklahoma authorized, on a final basis, Michael
E. Deeba, the Chapter 11 trustee in the case of Macco Properties,
Inc., to expend funds outside the ordinary course of business.

The funds to expend are from the settlement funds held pursuant to
the Court's June 13, 2011, order in an amount not to exceed
$300,000 for purposes of paying expenses for payroll, utilities
and insurance on behalf of the apartment complexes.

Oklahoma City, Oklahoma-based Macco Properties, Inc., filed for
Chapter 11 bankruptcy protection (Bankr. W.D. Okla. Case No. 10-
16682) on Nov. 2, 2010.  G. Rudy Hiersche, Jr., Esq., at the
Hiersche Law Firm, serves as the Debtor's bankruptcy counsel.  The
Debtor disclosed $50,823,581 in total assets, and $4,323,034 in
total liabilities.

Richard A. Wieland, the U.S. Trustee for Region 20, appointed
three members to the Official Committee of Unsecured Creditors.
The Committee is represented by Ruston C. Welch, at Welch Law
Firm, P.C., in Oklahoma City, Oklahoma.  The Committee tapped
Dennis Maley, CPA, as accountant.

Receivership Services Corp., a division of the Martens Cos., has
been named by the Court as property manager for the six Wichita
apartment complexes caught up in the bankruptcy of Macco
Properties of Oklahoma City.

W. Thomas Gilman of the firm of Redmond & Nazar, LLPC serves as
special counsel to Michael E. Deeba, Chapter 11 trustee.  Price
Edwards & Company serves as trustee's property manager.


MACCO PROPERTIES: Court Denies Adeq. Protection Payment to Price
----------------------------------------------------------------
The Hon. Niles Jackson of the U.S. Bankruptcy Court for the
Western District of Oklahoma denied the motion of Jennifer Price
to compel the Chapter 11 trustee to make adequate protection
payments immediately.

Ms. Price is the sole shareholder of Macco.  Ms. Price's husband,
Lew McGinnis is the president of Macco.

Ms. Price, asked the Court to enter an interim order, (a)
approving adequate protection payments to certain mortgage-based
secured claims effective immediately; and (b) compelling Michael
E. Deeba, Chapter 11 trustee, to make payments immediately.

According to Ms. Price, on July 7, 2011, the trustee failed to pay
$17,800 on a mortgage-secured loan given by Omega Enterprises,
LLC, on real estate owned by Reserve Properties, L.L.C., a Macco
owned LLC.  As a consequence of the trustee's failure, the loan
has been accelerated, the total amount of $355,000 is now due and
owing, and the lender is in a position to foreclose on the
property.

Ms. Price added that there is no basis to withhold postpetition
payments to the creditors of the claims, which are entitled to
adequate protection of their collateral.

The Chapter 11 trustee has not indicated any intention to pay
these postpetition mortgage obligations.

                      About Macco Properties

Oklahoma City, Oklahoma-based Macco Properties, Inc., filed for
Chapter 11 bankruptcy protection (Bankr. W.D. Okla. Case No. 10-
16682) on Nov. 2, 2010.  G. Rudy Hiersche, Jr., Esq., at the
Hiersche Law Firm, serves as the Debtor's bankruptcy counsel.  The
Debtor disclosed $50,823,581 in total assets, and $4,323,034 in
total liabilities.

Richard A. Wieland, the U.S. Trustee for Region 20, appointed
three members to the Official Committee of Unsecured Creditors.
The Committee is represented by Ruston C. Welch, at Welch Law
Firm, P.C., in Oklahoma City, Oklahoma.  The Committee tapped
Dennis Maley, CPA, as accountant.

Receivership Services Corp., a division of the Martens Cos., has
been named by the Court as property manager for the six Wichita
apartment complexes caught up in the bankruptcy of Macco
Properties of Oklahoma City.

Michael E. Deeba, Chapter 11 trustee is represented by Christopher
T. Stein, of counsel to the firm of Bellingham & Loyd, P.C., and
Janice D. Loyd and James H. Bellingham of Bellingham & Loyd, P.C.
W. Thomas Gilman of the firm of Redmond & Nazar, LLPC serves as
special counsel.  Price Edwards & Company serves as trustee's
property manager.


MACCO PROPERTIES: To Pay $400,000 as Settlement for Dispute
-----------------------------------------------------------
The Hon. Niles Jackson of the U.S. Bankruptcy Court for the
Western District of Oklahoma approved the settlement of disputed
matter with Cobblestone Apartments of Tulsa, LLC, an Oklahoma
limited liability company, and the Larry D. Jeanette A. Jamison
Family Trust, parties-in-interest in the Chapter 11 case of Macco
Properties, Inc.

Pursuant to the settlement entered on June 7, 2011, the movants
may enter a judgment against the Debtor in the sum of $400,000
against the Debtor in the Tulsa County District Court, Case No.
CJ-2009-1548.

As reported in the Troubled Company Reporter on June 24, the jury
trial against the Debtor and other defendants commenced but the
jury was unable to reach a verdict.  As a result, the parties
entered into an agreement to settle the State Court Proceeding.

The settlement provides:

     a. The parties agreed to continue the matter until a hearing
        on June 20, 2011, for the entry of a judgment against the
        Debtor and the defendant, SEP Cobblestone Apartments, LLC,
        in the sum of $400,000.  The defendants could satisfy the
        judgment by paying $300,000 on or June 20, 2011.

     b. In the event the settlement payment was not paid on or
        before June 20, 2011, the $400,000 would be entered in the
        State Court Proceeding and would constitute an unsecured
        claim in this bankruptcy proceeding.

     c. Any of the Defendants could satisfy the outstanding
        judgment amount of $400,000 prior to July 19, 2011.

     d. In the event the Defendants did not satisfy such judgment
        on or before July 19, 2011, a separate judgment would be
        entered in the State Court Proceeding against Lew S.
        McGinnis and Jennifer Price, jointly and severally, for
        $300,000.

                      About Macco Properties

Oklahoma City, Oklahoma-based Macco Properties, Inc., filed for
Chapter 11 bankruptcy protection (Bankr. W.D. Okla. Case No. 10-
16682) on Nov. 2, 2010.  G. Rudy Hiersche, Jr., Esq., at the
Hiersche Law Firm, serves as the Debtor's bankruptcy counsel.  The
Debtor disclosed $50,823,581 in total assets, and $4,323,034 in
total liabilities.

Richard A. Wieland, the U.S. Trustee for Region 20, appointed
three members to the Official Committee of Unsecured Creditors.
The Committee is represented by Ruston C. Welch, at Welch Law
Firm, P.C., in Oklahoma City, Oklahoma.  The Committee tapped
Dennis Maley, CPA, as accountant.

Receivership Services Corp., a division of the Martens Cos., has
been named by the Court as property manager for the six Wichita
apartment complexes caught up in the bankruptcy of Macco
Properties of Oklahoma City.

W. Thomas Gilman of the firm of Redmond & Nazar, LLPC serves as
special counsel to Michael E. Deeba, Chapter 11 trustee.  Price
Edwards & Company serves as trustee's property manager.


MACCO PROPERTIES: Redmond & Nazar OK'd to Handle Parkwood Suit
--------------------------------------------------------------
The Hon. Niles Jackson of the U.S. Bankruptcy Court for the
Western District of Oklahoma authorized Michael E. Deeba, the
Chapter 11 trustee in the Chapter 11 case of Macco Properties,
Inc., to retain W. Thomas Gilman of the firm of Redmond & Nazar,
LLPC as special counsel.

As reported in the Troubled Company Reporter on Aug. 10, 2011,
Macco is the 100% owner and the controlling member of LP Parkwood
Village Apartments, L.L.C., an Oklahoma limited liability company,
which owns and operates an apartment complex located in Wichita,
Sedgwick County, Kansas.  Pursuant to the Oklahoma Limited
Liability Company Act, Macco's membership interest constitutes the
personal property of the member.  Upon Macco's bankruptcy filings,
Macco effectively transferred its interest to the Bankruptcy
estate.  Because there are no other members in the majority of
Parkwood Village, other than Macco, the entire membership interest
in Parkwood Village passed to the Bankruptcy estate, and the
trustee is a substituted member.

Parkwood Village failed to pay the ad valorem taxes on the
apartment complex located in Wichita, Sedgwick County, Kansas.  As
a result of the failure to pay ad valorem taxes, Sedgwick County
has filed tax liens on the property, and on June 1, 2011, filed an
action in the 18th Judicial District Court for Sedgwick County,
Kansas, Civil Department, seeking to foreclose its tax liens by
selling said property.

Redmond & Nazar will represent the trustee, as the sole member/
manager of Parkwood Village.

The hourly rates of the firm's personnel are:

        Partners             $225 - $285
        Associates              $185
        Legal Assistants         $75

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

                      About Macco Properties

Oklahoma City, Oklahoma-based Macco Properties, Inc., filed for
Chapter 11 bankruptcy protection (Bankr. W.D. Okla. Case No. 10-
16682) on Nov. 2, 2010.  G. Rudy Hiersche, Jr., Esq., at the
Hiersche Law Firm, serves as the Debtor's bankruptcy counsel.  The
Debtor disclosed $50,823,581 in total assets, and $4,323,034 in
total liabilities.

Richard A. Wieland, the U.S. Trustee for Region 20, appointed
three members to the Official Committee of Unsecured Creditors.
The Committee is represented by Ruston C. Welch, at Welch Law
Firm, P.C., in Oklahoma City, Oklahoma.  The Committee tapped
Dennis Maley, CPA, as accountant.

Receivership Services Corp., a division of the Martens Cos., has
been named by the Court as property manager for the six Wichita
apartment complexes caught up in the bankruptcy of Macco
Properties of Oklahoma City.

W. Thomas Gilman of the firm of Redmond & Nazar, LLPC serves as
special counsel to Michael E. Deeba, Chapter 11 trustee.  Price
Edwards & Company serves as trustee's property manager.


MARCO POLO: Seeks Extra Funding to Protect Tanker Ships
-------------------------------------------------------
Dow Jones' DBR Small Cap reports that Marco Polo Seatrade B.V. is
seeking emergency approval of a loan to stabilize its operations
while previously requested funding is held up in a dispute.

                         About Marco Polo

Marco Polo Seatrade B.V. operates an international commercial
vessel management company that specializes in providing commercial
and technical vessel management services to third parties.
Founded in 2005, the Company mainly operates under the name of
Seaarland Shipping Management and maintains corporate headquarters
in Amsterdam, the Netherlands.  The primary assets consist of six
tankers that are regularly employed in international trade, and
call upon ports worldwide.

Marco Polo and three affiliated entities filed for Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 11-13634) on July 29,
2011.  The other affiliates are Seaarland Shipping Management
B.V.; Magellano Marine C.V.; and Cargoship Maritime B.V.

Marco Polo is the sole owner of Seaarland, which in turn is the
sole owner of Cargoship, and also holds a 5% stake in Magellano.
The remaining 95% stake in Magellano is owned by Amsterdam-based
Poule B.V., while another Amsterdam company, Falm International
Holding B.V. is the sole owner of Marco Polo.  Falm and Poule
didn't file bankruptcy petitions.

The filings were prompted after lender Credit Agricole Corporate &
Investment Bank seized one ship on July 21, 2011, and was on the
cusp of seizing two more on July 29.  The arrest of the vessel was
authorized by the U.K. Admiralty Court.  Credit Agricole also
attached a bank account with almost US$1.8 million on July 29.
The Chapter 11 filing precluded the seizure of the two other
vessels.

Evan D. Flaschen, Esq., Robert G. Burns, Esq., and Andrew J.
Schoulder, Esq., at Bracewell & Giuliani LLP, serve as bankruptcy
counsel.  The cases are before Judge James M. Peck.

The petition said assets and debt are both more than US$100
million and less than US$500 million.


NEBRASKA BOOK: U.S. Appoints 2 Members to Creditor's Panel
----------------------------------------------------------
Roberta A. Deangelis, Acting United States Trustee for Region 3,
under 11 U.S.C. Sec. 1102(a) and (b), appointed two unsecured
creditors to serve on the Official Committee of Unsecured
Creditors of Nebraska Book Company, Inc.

The Creditors Committee members are:

      1. U.S. Bank National Association
         ATTN: James E. Murphy,
         100 Wall Street, Suite 1600,
         New York, NY 10005,
         Tel: (212) 361-6174,
         Fax: (212) 514-6841

      2. The Bank of New York Mellon Trust Company N.A.
         as Trustee
         ATTN: David M. Kerr
         101 Barclay Street
         New York, NY 10283
         Tel: (212) 815-5650
         Fax: (732) 667-9322

                    About Nebraska Book Company

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

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

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


NELSON & ASSOCIATES: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Nelson & Associates, Inc.
        12816 Leffingwell Road
        Santa Fe Springs, CA 90670-0000

Bankruptcy Case No.: 11-43751

Chapter 11 Petition Date: August 8, 2011

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

Judge: Sandra R. Klein

Debtor's Counsel: Ron Bender, Esq.
                  LEVENE, NEALE, BENDER, YOO & BRILL LLP
                  10250 Constellation Blvd Ste 1700
                  Los Angeles, CA 90067
                  Tel: (310) 229-1234
                  E-mail: rb@lnbrb.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/cacb11-43751.pdf

The petition was signed by Todd J. Nelson, president.


NEONODE INC: Incurs $2.7 Million Net Loss in Second Quarter
-----------------------------------------------------------
Neonode, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on form 10-Q reporting a net loss
of $2.72 million on $283,000 of net revenues for the three months
ended June 30, 2011, compared with a net loss of $13.80 million on
$123,000 of net revenues for the same period during the prior
year.

The Company also reported a net loss of $12.44 million on $822,000
of net revenues for the six months ended June 30, 2011, compared
with a net loss of $16.04 million on $269,000 of net revenues for
the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $5.99 million
in total assets, $9.99 million in total liabilities and a $4
million total stockholders' deficit.

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

                        http://is.gd/5Bz1Vb

                         About Neonode Inc.

Lafayette, Calif.-based Neonode Inc. (OTC BB: NEON)
-- http://www.neonode.com/-- provides optical touch screen
solutions for hand-held and small to midsize devices.

KMJ Corbin & Company, LLP, in Costa Mesa, Calif., expressed
substantial doubt about Neonode Inc.'s ability to continue as a
going concern.  The independent auditors noted that the Company
has incurred significant operating losses and has used substantial
amounts of working capital in its operations since inception, and
at Dec. 31, 2010, has a working capital deficit of $9.9 million
and an accumulated deficit of $112.2 million.

The Company reported a net loss of $31.6 million on $440,000 of
revenues for 2010, compared with a net loss of $14.9 million on no
revenue for 2009.


NEW ERA HOSPITALITY: Sec. 341 Creditors' Meeting Set for Sept. 20
-----------------------------------------------------------------
The U.S. Trustee for the Southern District of Texas will convene a
Meeting of Creditors pursuant to 11 U.S.C. Sec. 341(a) in the
Chapter 11 case of New Era Hospitality, Inc., on Sept. 20, 2011,
at 3:00 p.m. at Houston, 515 Rusk Suite 3401.  Proofs of Claim are
due by Dec. 19, 2011.

Houston, Texas-based New Era Hospitality Inc. filed for Chapter 11
bankruptcy protection (Bankr. S.D. Tex. Case No. 11-36492) on
July 30, 2011, to avoid foreclosure of its hotel property at 801
St.
Joseph Parkway.  Money woes stalled its hotel construction plans.
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.


NGPL PIPECO: Fitch Affirms 'BB+' Rating on Sr. Unsecured Debt
-------------------------------------------------------------
Fitch Ratings has affirmed the Issuer Default Rating (IDR) and
senior unsecured debt ratings for NGPL PipeCo LLC at 'BB+'.  A
total of $3 billion of senior unsecured debt is affected by the
rating action.  The Rating Outlook has been revised to Negative
from Stable.

The rating action reflects the phased-in reduction of cash flows
through 2012 resulting from NGPL's uncontested rate settlement
which was approved by FERC in July 2010.  The settlement mandated
phased-in decreases in NGPL's base recourse rates and fuel
retention factors.  An additional temporary drain on cash is a
pipeline stress corrosion testing program currently being
undertaken by the company.  Fitch expects NGPL's calendar 2012
debt/EBITDA and FFO/debt to approximate 6.2 times (x) and 7%,
respectively.  Credit ratios will likely modestly improve
thereafter when corrosion testing expenses lessen.

Other credit concerns include: the relatively short average term
of NGPL's transportation contracts of approximately 2.8 years and
the related re-contracting risk; the limiting effect the reduced
cash flows has on the company's operating flexibility and
strategies; and NGPL's ability to efficiently refinance its $1.25
billion of notes that will mature in December 2012.

Favorable considerations include NGPL's strong Chicago/Midwest
market franchise, its high-quality and reliable utility customer
base, a strong demand for storage services, limited liquidity
needs, and its long record of successfully managing contract
rollovers.  Furthermore, the settlement has enhanced the quality
of future cash flows and lowered financial volatility,
particularly as it relates to fuel retention revenues.  Also, the
resulting lower overall transportation costs has improved NGPL's
competitive position and enhance its ability to re-contract at
maximum rates.

NGPL is 80% owned by Myria Acquisition Inc. (Myria), a consortium
of investors including Brookfield Infrastructure Partners,
SteelRiver Infrastructure Fund North America, a Canadian pension
fund and a Netherlands pension fund and 20% owned by Kinder Morgan
Kansas, Inc. (IDR rated 'BB+' with a Stable Outlook by Fitch)



OMNICOMM SYSTEMS: Posts $997,312 Net Loss in Second Quarter
-----------------------------------------------------------
OmniComm Systems, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $997,312 on $3.4 million of revenues for
the three months ended June 30, 2011, compared with net income of
$216,014 on $3.2 million of revenues for the same period last
year.

The Company reported a net loss of $4.9 million on $6.7 million of
revenues for the six ended June 30, 2011, compared with a net loss
of $1.3 million on $5.9 million of revenues for the same period
last year.

The Company's balance sheet at June 30, 2011, showed $2.8 million
in total assets, $25.4 million in total liabilities, and a
stockholders' deficit of $22.6 million.

Webb & Company, P.A., in Boynton Beach, Fla., expressed
substantial doubt about OmniComm Systems' ability to continue as a
going concern, following the Company's 2010 results.  The
independent auditors noted that the Company has a net loss
attributable to common shareholders of $3,335,869, a negative cash
flow from operations of $1,953,919, a working capital deficiency
of $9,400,947 and a stockholders' deficiency of $17,814,029.

A copy of the Form 10-Q is available at http://is.gd/4Pf4vl

Ft. Lauderdale, Fla.-based OmniComm Systems, Inc. (OTC: OMCM.OB)
-- http://www.OmniComm.com/-- provides customer-driven Internet
solutions to pharmaceutical, biotechnology, research and medical
device organizations that conduct life changing clinical trial
research.  OmniComm Systems, Inc has U.S. headquarters in Fort
Lauderdale, Fla. and European headquarters in Bonn, Germany, with
satellite offices in New Jersey and the United Kingdom, as well as
sales offices throughout the U.S. and Europe.


ORAGENICS INC: Posts $2.4-Mil. Net Loss in Second Quarter
---------------------------------------------------------
Oragenics, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $2.374 million on $347,569 of revenues for
the three months ended June 30, 2011, compared with a net loss of
$2.01 million on $304,696 of revenues for the same period last
year.

The Company reported a net loss of $3.9 million on $697,506 of
revenues for the six months ended June 30, 2011, compared with a
net loss of $3.8 million on $646,179 of revenues for the same
period last year.

The Company's balance sheet at June 30, 2011, showed $1.3 million
in total assets, $6.3 million in total liabilities, and a
stockholders' deficit of $5.0 million.

As reported in the TCR on April 5, 2011, Kirkland, Russ, Murphy &
Tapp, P.A., in Clearwater, Fla., expressed substantial doubt about
Oragenics' ability to continue as a going concern, following the
Company 2010 results.  The independent auditors noted that the
Company has incurred recurring operating losses, negative
operating cash flows and has an accumulated deficit.

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

                      About Oragenics Inc.

Tampa, Fla.-based Oragenics, Inc. -- http://www.oragenics.com/--
is a biopharmaceutical company focused primarily on oral health
products and novel antibiotics.  Within oral health, Oragenics is
developing its pharmaceutical product candidate, SMaRT Replacement
Therapy, and also commercializing its oral probiotic product,
ProBiora3.  Within antibiotics, Oragenics is developing a
pharmaceutical candidate, MU1140-S and intends to use its
patented, novel organic chemistry platform to create additional
antibiotics for therapeutic use.


OUR FAMILY: Case Summary & 2 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Our Family Investments, Inc.
        P.O. Box 330108
        Atlantic Beach, FL 32233

Bankruptcy Case No.: 11-05856

Chapter 11 Petition Date: August 8, 2011

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

Debtor's Counsel: Taylor J. King, Esq.
                  LAW OFFICES OF MICKLER & MICKLER
                  5452 Arlington Expressway
                  Jacksonville, FL 32211
                  Tel: (904) 725-0822
                  Fax: (904) 725-0855
                  E-mail: court@planlaw.com

Scheduled Assets: $873,700

Scheduled Debts: $2,225,491

A list of the Company's two largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/flmb11-05856.pdf

The petition was signed by Chris Hionides, president.


PALM HARBOR: Plan Promises Up to 21% Recovery for Unsecureds
------------------------------------------------------------
Carla Main at Bloomberg News reports that Palm Harbor Homes Inc.
filed a liquidation plan supported by unsecured creditors who
would receive a recovery of as much as 21%.  According to the
disclosure statement, the primary purpose of the plan is to
provide for the orderly liquidation and distribution of the
assets.  Under the plan, a trust would be created to distribute
cash and liquidate any remaining assets, court papers show.
Holders of 3.25% senior notes, owed about $54.8 million, and
general unsecured creditors would get as much as 21% on their
claims.  Holders of Palm Harbor stock, which traded at $2.15 a
share a year ago, wouldn't receive any recovery.  The company
scheduled a Sept. 13 hearing to seek court approval of the
disclosure statement.

                   About Palm Harbor Homes

Addison, Texas-based Palm Harbor Homes, Inc. --
http://www.palmharbor.com/-- manufactured and marketed factory-
built homes.  The Company marketed nationwide through vertically
integrated operations, encompassing manufactured and modular
housing, financing and insurance.

Palm Harbor, along with affiliates, filed for Chapter 11
bankruptcy protection (Bankr. D. Del. Lead Case No. 10-13850) on
Nov. 29, 2010.  It disclosed $321,263,000 in total assets and
$280,343,000 in total debts.

Brian Cejka at Alvarez & Marsal is the Debtors' chief
restructuring officer.  Raymond James and Associates, Inc., is the
Debtors' investment banker.  Alvarez & Marshal North America, LLC,
is the Debtors' financial advisor.  BMC Group, Inc., is the
Debtors' claims agent.  Pachulski Stang Ziehl & Jones LLP serves
as counsel to the Official Committee of Unsecured Creditors.

Following a court-approved sale process, Palm Harbor in March 2011
sold its business for $85.25 million to Fleetwood Enterprises
Inc., a venture between Cavco Industries Inc. and a fund advised
by Third Avenue Management LLC.  Fleetwood is providing up to
$55 million in secured financing for Palm Harbor's reorganization.

As reported in the TCR on May 16, 2011, Cavco Industries and
Fleetwood Homes filed with the Bankruptcy Court a motion for an
order enforcing and ordering Palm Harbor Homes to perform its
obligations under the Court-approved amended and restated asset
purchase agreement and to pay administrative expenses.  According
to Cavco and Fleetwood, the Debtors ceased paying former
employees' sales commissions and profit-sharing bonuses prior to
the closing date when the individuals were still employees of the
Debtors.


PLATINUM PROPERTIES: Wants Forbearance Deal with BofA Amended
-------------------------------------------------------------
Platinum Properties, LLC, and PPV, LLC, ask the U.S. Bankruptcy
Court for the Southern District of Indiana for authority to amend
forbearance agreement with Bank of America, as successor by merger
to LaSalle Bank National Association, PPV, and the guarantors.

The amendment will authorize the Debtors to execute and deliver
the First Amendment to Second Forbearance Agreement, reducing the
minimum lot sale price and the release price for the additional
lots.

It is also a modification of the terms and conditions pursuant to
which BofA consents to the Debtors' use of cash collateral.   The
cash collateral would fund the purchases contemplated in the
assumption motion.

The Debtors explain that if the amendment motion and the
assumption motion are not granted, the Debtors' reorganization
efforts will be impaired by the loss of otherwise available
revenue and reduction of the BofA obligations that would occur
upon the sale of the additional lots.

            About Platinum Properties and PPV LLC

Indianapolis, Indiana-based Platinum Properties, LLC, is a
residential real estate developer. Platinum acquires land, designs
the projects, obtains zoning and other approvals, and constructs
roads, drainage, utilities, and other infrastructure of
residential subdivisions.  Platinum then sells the finished,
platted lots.  Platinum also has an ownership interest in several
special purpose entities that in turn own, operate and manage
individual projects.

PPV LLC is a joint venture between Platinum and a non-debtor
entity, Pittman Partners, Inc., each of whom hold an equity
interest in PPV.  PPV owned four projects directly and owns 100%
of the membership interest of Sweet Charity Estates, LLC.

Platinum Properties and PPV LLC filed for Chapter 11 protection
(Bankr. S.D. Ind. Case Nos. 11-05140 and 11-05141) on April 25,
2011.  Lawyers at Baker & Daniels serve as the Debtors' bankruptcy
counsel.  Platinum Properties disclosed $14,624,722 in assets and
$181,990,960 in liabilities as of the Chapter 11 filing.

The U.S Trustee has not yet appointed a creditors committee in the
Debtor's case.  The U.S. Trustee reserves the right to appoint
such a committee should interest developed among the creditors.


POINT BLANK: Ex-Chief to Plead to Tax Charges, Lawyer Says
----------------------------------------------------------
Carla Main at Bloomberg News reports David Brooks will plead
guilty to tax charges, his lawyer said.  A federal jury found Mr.
Brooks guilty last year of committing a $185 million fraud and
looting the company, formerly called DHB Industries Inc., to pay
for personal expenses.  He hasn't been sentenced yet.  Three tax
counts were separated from the other charges he was convicted of,
including insider-trading, fraud and obstruction of justice.  He
has asked for a new trial on those charges.  "We are channeling
our efforts into the other counts," Mr. Brooks' lawyer Gerald L.
Shargel said in a phone interview Aug. 9.  The plea hearing was
scheduled for Aug. 10.  The criminal case is U.S. v. Brooks, 06-
CR-550, U.S. District Court, Eastern District of New York (Central
Islip).

                       About Point Blank

Headquartered in Pompano Beach, Florida, Point Blank Solutions,
Inc. -- http://www.pointblanksolutionsinc.com/-- designs and
produces body armor systems for the U.S. Military, Government and
law enforcement agencies, as well as select international markets.
The Company maintains facilities in Pompano Beach, Florida, and
Jacksboro, Tennessee.

The Company's former chief executive officer and chief operating
officer were convicted in September 2010 of orchestrating a
$185 million fraud.

Point Blank Solutions, formerly DHB Industries, filed for
Chapter 11 protection (Bankr. D. Del. Case No. 10-11255) on
April 14, 2010.  Laura Davis Jones, Esq., Alan J. Kornfeld, Esq.,
David M. Bertenthal, Esq., and Timothy P. Cairns, Esq., at
Pachulski Stang Ziehl & Jones LLP, serve as bankruptcy counsel to
the Debtor.  Olshan Grundman Frome Rosenweig & Wolosky LLP serves
as corporate counsel.  T. Scott Avila of CRG Partners Group LLC is
the restructuring officer.  Epiq Bankruptcy Solutions serves as
claims and notice agent.

The U.S. Trustee has appointed an Official Committee of Unsecured
Creditors and a separate Official Committee of Equity Security
Holders in the case.  Ian Connor Bifferato, Esq., and Thomas F.
Driscoll III, Esq., at Bifferato LLC; and Carmen H. Lonstein,
Esq., Andrew P.R. McDermott, Esq., and Lawrence P. Vonckx, Esq.,
at Baker & McKenzie LLP, serve as counsel for the Official
Committee of Equity Security Holders.  Robert M. Hirsh, Esq., and
George P. Angelich, Esq., at Arent Fox LLP, serve as counsel to
the Creditors Committee, and Frederick B. Rosner, Esq., and Brian
L. Arban, Esq., at the Rosner Law Group LLC, serve as co-counsel.


QUANTUM FUEL: Amends Form S-3 Registration Statement
----------------------------------------------------
Quantum Fuel Systems Technologies Worldwide, Inc., filed with the
U.S. Securities and Exchange Commission Amendment No.1 to Form S-3
registration statement relating to resale by the selling security
holders of up to 4,810,681 shares of the Company's common stock,
consisting of (i) 2,504,927 shares of common stock that were
issued in a private placement that the Company completed in June
2011 and (ii) 2,305,754 shares of the Company's common stock
issuable upon the exercise of warrants, of which 2,272,452 of such
warrants were issued in the June private placement and 33,302 of
such warrants were issued in a private placement that we completed
in May 2011.

The Company is not selling any shares of common stock in this
offering and, therefore, will not receive any proceeds from this
offering.  The Company will, however, receive proceeds from the
exercise price of the warrants if and when these warrants are
exercised by the selling security holders for cash.  The Company
will bear all of the expenses and fees incurred in registering the
shares offered by this prospectus.

The Company's common stock is quoted on The Nasdaq Global Market
under the symbol "QTWW."  The last reported sale price of the
Company's common stock on Aug. 2, 2011, was $4.11 per share.  The
Company's warrants are not and will not be listed for trading on
any exchange.

A full-text copy of the amended prospectus is available at no
charge at http://is.gd/VeS9Ab

                         About Quantum Fuel

Based in Irvine, California, Quantum Fuel Systems Technologies
Worldwide, Inc., is a fully integrated alternative energy company
and considers itself a leader in the development and production of
advanced clean propulsion systems and renewable energy generation
systems and services.

Quantum Fuel and its senior lender, WB QT, LLC, entered into a
Ninth Amendment to Credit Agreement and a Forbearance Agreement on
Jan. 3, 2011.  The Senior Lender agreed to provide the Company
with a $5.0 million non-revolving line of credit, which may be
drawn upon at any time prior to April 30, 2011.  Advances under
the New Line of Credit do not bear interest -- unless an event of
default occurs, in which case the interest rate would be 10% per
annum -- and mature on April 30, 2011.  The Senior Lender also
agreed to forbear from accelerating the maturity date for any
portion of the Senior Debt Amount and from exercising any of its
rights and remedies with respect to the Senior Debt Amount until
April 30, 2011.

The Company reported a net loss attributable to stockholders of
$11.03 million on $20.27 million of total revenue for the year
ended Apri1 30, 2011, compared with a net loss attributable to
stockholders of $46.29 million on $9.60 million of total revenue
during the prior year.

The Company's balance sheet at April 30, 2011, $71.97 million in
total assets, $33.39 million in total liabilities and $38.57
million in total equity.

Ernst & Young LLP, in Orange County, California, noted that
Quantum Fuel's recurring losses and negative cash flows combined
with the Company's existing sources of liquidity and other
conditions raise substantial doubt about the Company's ability to
continue as a going concern.

                        Possible Bankruptcy

The Company anticipates that it will need to raise a significant
amount of debt or equity capital in the near future in order to
repay certain obligations owed to the Company's senior secured
lender when they mature.  As of June 15, 2011, the total amount
owing to the Company's senior secured lender was approximately
$15.5 million, which includes approximately $12.5 million of
principal and interest due under three convertible promissory
notes that are scheduled to mature on Aug. 31, 2011, and a $3.0
million term note that is potentially payable in cash upon demand
beginning on Aug. 1, 2011, if the Company's stock is below $10.00
at the time demand for payment is made.  If the Company is unable
to raise sufficient capital to repay these obligations at maturity
and the Company is otherwise unable to extend the maturity dates
or refinance these obligations, the Company would be in default.
The Company said it cannot provide any assurances that it will be
able to raise the necessary amount of capital to repay these
obligations or that it will be able to extend the maturity dates
or otherwise refinance these obligations.  Upon a default, the
Company's senior secured lender would have the right to exercise
its rights and remedies to collect, which would include
foreclosing on the Company's assets.  Accordingly, a default would
have a material adverse effect on the Company's business and, if
the Company's senior secured lender exercises its rights and
remedies, the Company would likely be forced to seek bankruptcy
protection.


QUINCY MEDICAL: Says Patient Care Ombudsman Appointment Not Needed
------------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Massachusetts will
convene a hearing on Aug. 29, 2011 at 10:00 a.m., to consider
Quincy Medical Center, Inc., et al.'s request for an entry of an
order excusing the appointment of a patient care ombudsman in the
Chapter 11 cases.

The Company relates that appointment of a patient care ombudsman
is not appropriate in the cases, and might prove counterproductive
to the Company's pending sale effort.  Specifically, the Debtor
notes that:

   i) the Company delivers high quality, award-winning patient
   care;

  ii) appointment of a patient care ombudsman would likely
   distract the Company from its current efforts to maintain high-
   quality patient care during its pending sale process; and

iii) the Company's hospital and related medical care business is
   likely to be sold near the time any patient care ombudsman
   could appropriately assess and report on patient care matters,
   and before any possible patient care recommendations could be
   implemented.

The Company has conferred with each of the Creditors' Committee,
the Indenture Trustee for the Company's 2008 MHEFA bond issue (the
Company's principal secured creditor and cash collateral lender),
the Office of the U.S. Trustee, and the Office of the Attorney
General of the Commonwealth of Massachusetts.  The Creditors'
Committee and the Indenture Trustee have no objection to the
relief sought.  The Office of the U.S. Trustee and the Office of
the Massachusetts Attorney General have indicated that they
believe a patient care ombudsman must be appointed.

                   About Quincy Medical Center

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

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

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

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

On July 12, 2011, the U.S. Trustee for the District of
Massachusetts appointed the Official Committee of Unsecured
Creditors.


QUINCY MEDICAL: Wants to Auction Substantially All Assets
---------------------------------------------------------
Quincy Medical Center, Inc., et al., asks the U.S. Bankruptcy
Court for the District of Massachusetts for authority to sell
substantially all assets in an auction led by Steward Medical
Holdings Subsidiary Five, Inc.

The Debtors with the assistance of its financial advisor Navigant
Capital Advisors, LLC, intends to sell assets utilized by the
Company in operating its business.  The assets are subject to
various liens and security interests, including those asserted by
U.S. Bank National Association, as trustee for holders of
$60,250,000 of Massachusetts Health and Educational Facilities
Authority Revenue Bonds, Quincy Medical Center Issue, Series A
(2008); and Boston Medical Center Corporation.  The assets will
not be sold free and clear of certain purchase money security
interests.

As reported in the Troubled Company Reporter on July 15, 2011, the
board of the Quincy approved a deal to sell the hospital to
Steward.

The TCR reported that if Quincy can resolve its present
$56 million in debt through bankruptcy proceedings, Steward has
agreed to pay $38 million for the hospital and make no less than
$34 million worth of improvements to its facilities in five years.
That $38 million will have to satisfy all the creditors -- from
the big bondholders to small creditors who have been supplying the
hospital with everything from X-ray frames to cleaning supplies.

Among the assets to be sold under the APA is QMC ED Physicians,
Inc.'s 10% ownership interest in BMC NAB Business Trust, a
Massachusetts business trust.  Boston Medical Center Corporation,
a Massachusetts charitable corporation, owns the other 90%
interest in the trust.
In addition, bidders may submit offers to purchase only the QED
shares.

Also among the assets to be sold under the APA are the Company's
rights under certain unexpired leases of real and personal
property, and under certain executory contracts, to be identified
by Steward pursuant to APA, or by any winning bidder.

Competing bids for the auction of the assets were due Aug. 8.  A
hearing will be held before the Hon. Melvin S. Hoffman on Aug. 17,
at 11:00 a.m. to consider approval of the winning bidder in
respect of which the Company will seek authority to assume and
assign the assigned agreements designated by the winning bidder.

The Court will consider the sale of the assets to Steward or the
winning bidder at a hearing on Sept. 21, at 10:00 a.m. (prevailing
Eastern Time).  Objections, if any, are due Sept. 8.

                   About Quincy Medical Center

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

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

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

Quincy disclosed assets of $73 million and liabilities of
$79.4 million.  Debt includes $56.4 million owing on secured bonds
issued through a state health-care finance agency.  There is
another $2.5 million secured obligation owing to Boston Medical
Center Corp.  Accrued liabilities are $18.2 million.  As reported
in the Troubled Company Reporter on Aug. 9, 2011, Quincy disclosed
$71,214,530 in assets and $81,319,414 in liabilities.

On July 12, 2011, the U.S. Trustee for the District of
Massachusetts appointed the Official Committee of Unsecured
Creditors.


RADIOSHACK: Fitch Affirms 'BB' Rating on Senior Notes
-----------------------------------------------------
Fitch Ratings has affirmed RadioShack's long-term Issuer Default
Rating (IDR) at 'BB.'  The Rating Outlook has been revised to
Negative from Stable.  As of June 30, 2011, RadioShack had $662
million of debt outstanding.

Fitch has affirmed RadioShack's ratings as follows and revised the
Outlook to Negative from Stable:

  -- Long-term IDR at 'BB';
  -- Bank credit facility at 'BBB-';
  -- Senior notes at 'BB'.

The Outlook revision is due to an increase in leverage to the mid-
4 times (x) area, which is higher than Fitch's prior expectations
which assumed leverage would remain in the 4x context.
RadioShack's leverage has climbed in 2011 as EBITDA has fallen
from $434 million at the end of 2010 to $372 million for the
latest 12 months (LTM) period ending June 30, 2011.

The recent slippage in EBITDA to below the $400 million level
points to a departure from the trend reflected over the last
several years.  Despite the economic downturn, RadioShack's
financial results over 2007 to 2010 had been relatively stable, as
the company's revenues ranged from $4,035 million to $4,266
million and EBITDA was steady in the range of $410 to $480
million.

Due to the EBITDA decline and uncertainty around stabilization in
the business, Fitch now believes that leverage could be in the mid
4x range over the next 12 - 24 months.  This incorporates Fitch's
assumption of a flattish top line coupled with further operating
margin contraction given the anticipated growth of the mobility
platform.

The ratings continue to reflect RadioShack's positive free cash
flow (FCF) generation and adequate liquidity.  Going forward Fitch
believes that the pressures on the business profile will make it
difficult to maintain historical EBITDA and FCF levels.

Of Radioshack's three key product platforms, two are in decline
(signature and consumer electronics).  Fitch estimates that
approximately half of revenues and 60% of gross margin dollars
come from signature and consumer electronics.  The third key
product platform (mobility) is a lower-margin business operating
in a competitive space where other larger players in the consumer
electronics sector (such as Best Buy and Staples) are ramping up
their efforts.  Thus, RadioShack's longer term earnings growth
prospects remain a concern.

RadioShack's business profile, already pressured in light of the
crowded and highly-commoditized consumer electronics space, is in
the midst of several changes.  On the positive front, the company
announced that it has entered into an agreement with Verizon
Wireless to provide wireless products in RadioShack stores
beginning Sept. 15, 2011.  However, it will cease offering T-
Mobile wireless products in stores (but will continue to offer T-
Mobile products in Target kiosks).  This transition of exiting one
carrier while ramping up on another is one driver of the sluggish
operating performance in 2011.  The company also saw weakness in
its Sprint wireless sales due to a change in Sprint's upgrade
program.  This is expected to be a short-term timing delay whereby
Sprint sales are expected to rebound in future quarters.

Another recent drag on EBITDA stems from the transition out of the
kiosk business at Sam's Club and simultaneous rollout into Target
Mobile centers.  The company made an accounting change to
reclassify the kiosk operations located in Sam's Club stores to
discontinued operations.  These kiosks were transitioned to Sam's
Club at June 30, 2011.  While these may be short-term events, the
resulting decline in EBITDA from $434 million at the end of 2010
to $372 million for the LTM period ending June 30, 2011 is not
insignificant.  Given the dynamics of the consumer electronics
sector, Fitch believes that it is uncertain when RadioShack's
business will stabilize.

Radioshack has adequate liquidity with $552 million in cash and
cash equivalents and $419 million available under its $450 million
credit facility as of June 30, 2011.  There are no borrowings
under the facility; availability is net of $31 million letters of
credit.  During the second quarter of 2011, RadioShack carried out
share repurchases in the amount of $101 million.  These purchases
complete its $610 million share repurchase authorization, thus
Fitch does not anticipate further share repurchases in 2011.  For
2012 onward, Fitch expects share repurchases in the $100 million
context, a figure generally in line with the average over the last
several years.


RAY GUY: Ex-Raider Auctions Super Bowl Rings for $96,216
--------------------------------------------------------
Carla Main at Bloomberg News reports that former Raiders punter
Ray Guy sold his three Super Bowl championship rings for $96,216
at auction to help pay his debts as part of a bankruptcy case.
Mr. Guy, 61, who played in seven Pro Bowls during his 14-year
career, filed for bankruptcy protection in Augusta, Georgia, in
April 2010 and won approval in May to sell the rings.  Los
Angeles-based Nate D. Sanders Inc. conducted the auction for the
rings.


REGENERX BIOPHARMA: Posts $1.5 Million Net Loss in Q2 2011
----------------------------------------------------------
RegeneRx Biopharmaceuticals, Inc., filed its quarterly report on
Form 10-Q, reporting a net loss of $1.5 million on sponsored
research revenue of $588,575 for the three months ended June 30,
2011, compared with a net loss of $1.4 million on sponsored
research revenue of $11,129 for the same period last year.

The Company reported a net loss of $3.1 million on sponsored
research revenue of $1.2 million for the six months ended June 30,
2011, compared with a net loss of $2.5 million on sponsored
research revenue of $11,129 for the same period of 2010.

The Company's balance sheet at June 30, 2011, showed $3.0 million
in total assets, $1.0 million in total liabilities, all current,
and stockholders' equity of $2.0 million.

As reported in the TCR on April 8, 2011, Reznick Group, P.C., in
Vienna, Va., expressed substantial doubt about RegeneRx's ability
to continue as a going concern, following the Company's 2010
results.  The independent auditors noted that the Company has
experienced negative cash flows from operations since inception
and is dependent upon future financing in order to meet its
planned operating activities.

A copy of the Form 10-Q is available at http://is.gd/W5vPuo

Rockville, Md.-based RegeneRx Biopharmaceuticals, Inc.
(OTC BB: RGRX) -- http://www.regenerx.com/-- is a
biopharmaceutical company focused on the development of a novel
therapeutic peptide, Thymosin beta 4, or TB4, for tissue and organ
protection, repair, and regeneration.


RTJJ, INC.: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: RTJJ, Inc.
        500 East Long Avenue
        Gastonia, NC 28054

Bankruptcy Case No.: 11-32050

Chapter 11 Petition Date: August 8, 2011

Court: U.S. Bankruptcy Court
       Western District of North Carolina (Charlotte)

Judge: J. Craig Whitley

Debtor's Counsel: James H. Henderson, Esq.
                  JAMES H. HENDERSON, P.C.
                  1201 Harding Place
                  Charlotte, NC 28204-2248
                  Tel: (704) 333-3444
                  Fax: (704) 333-5003
                  E-mail: henderson@title11.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/ncwb11-32050.pdf

The petition was signed by Rick L. Jones, president.


RVTC LP: Court Approves Integra Realty as Real Property Appraiser
-----------------------------------------------------------------
The Hon. Leif M. Clark of the U.S. Bankruptcy Court for the
Western District of Texas authorized RVTC Limited Partnership to
employ Integra Realty Resources-San Antonio as appraiser.

As reported in the Troubled Company Reporter on July 14, 2011,
Integra Realty is preparing an appraisal of the Debtor's real
property asset.

The firm will be compensated in this manner:

   a) The total fee for completion of the appraisal as requested
      by the Debtor will be $10,000, of which Debtor will pay an
      immediate retainer of $5,000.  The entire fee, including the
      retainer, shall not be either paid or applied by Integra
      until completion of the appraisal.

   b) In connection with the appearance at any deposition or
      hearing, Integra will charge the following hourly rates:

        i) Martyn C. Glen $350 per hour; and
       ii) Senior Analyst $175 per hour.

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

The Court also ordered that Integra will file a notice indicating
that the appraisal has been completed and Integra's intention to
apply the retainer.  The notice will give all parties-in-interest
14 days to file an objection to the application, but only to
assert that Integra has either not completed the appraisal or that
such appraisal was prepared in a fraudulent manner.

                          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 disclosed $12,158,560 in assets and $12,564,538 in
liabilities as of the Chapter 11 filing.


RYLAND GROUP: Files Form 10-Q; Incurs $10.7-Mil. Net Loss in Q2
---------------------------------------------------------------
The Ryland Group, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on form 10-Q reporting a
net loss of $10.71 million on $225.22 million of total revenues
for the three months ended June 30, 2011, compared with a net loss
of $21.76 million on $373.27 million of total revenues for the
same period during the prior year.

The Company also reported a net loss of $30.25 million on $400.15
million of total revenues for the six months ended June 30, 2011,
compared with a net loss of $36.06 million on $624.04 million of
total revenues for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $1.57 billion
in total assets, $1.05 billion in total liabilities and $513.79
million in total equity.

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

                        http://is.gd/CrezL4

                         About Ryland Group

Headquartered in Calabasas, California, The Ryland Group, Inc.
(NYSE: RYL) -- http://www.ryland.com/-- is one of the nation's
largest homebuilders and a leading mortgage-finance company.
Since its founding in 1967, Ryland has built more than 285,000
homes and financed more than 240,000 mortgages.  The Company
currently operates in 15 states and 19 homebuilding divisions
across the country and is listed on the New York Stock Exchange
under the symbol "RYL."

                           *     *     *

As reported by the Troubled Company Reporter on June 21, 2010,
Fitch Ratings has affirmed Ryland Group, Inc.'s ratings -- Issuer
Default Rating at 'BB'; and Senior unsecured debt at 'BB'.  The
Rating Outlook has been revised to Stable from Negative.

Ryland Group carries Moody's "Ba3" corporate family rating, "Ba3"
probability of default rating, "Ba3" senior unsecured notes
rating, and "SGL-2" speculative grade liquidity rating.  Ryland
Group carries Standard & Poor's Ratings Services' 'BB-' corporate
credit and senior unsecured note ratings.


SBARRO INC: Files Joint Plan of Reorganization
----------------------------------------------
Sbarro, Inc., and its domestic subsidiaries has filed a Joint Plan
of Reorganization and related Disclosure Statement with the U.S.
Bankruptcy Court for the Southern District of New York.  The
Company, with the assistance of its advisors and the Restructuring
Committee of its Board of Directors, has proposed a plan sponsored
by certain of Sbarro's first lien lenders as its stalking horse
restructuring plan.

Under the terms of the proposed Plan, Sbarro expects to reduce its
debt by approximately 73%, or $295 million (from approximately
$405 million to $110 million, plus any amounts funded under a new
money term loan facility), by:

-- converting 100% of the outstanding amount of the $35 million
   post-petition debtor-in-possession financing into an equal
   amount of a newly issued $110 million senior secured exit term
   loan facility;

-- converting approximately $173 million in prepetition senior
   secured debt held by the Company's prepetition first lien
   lenders into the remaining exit term loan facility and 100% of
   the common equity of the reorganized company (subject to
   dilution by shares issued under a management equity plan); and

-- eliminating all other outstanding debt.

Upon emergence from the Chapter 11 process, Sbarro's prepetition
first lien lenders would own substantially all of the Company's
equity.  Certain of the Company's pre-petition first lien lenders
have also committed, subject to the satisfaction of certain
conditions, to provide Sbarro with an $18.6 million new money term
loan facility to be used for general corporate and working capital
needs following emergence, which will provide the Company with
sufficient liquidity at emergence.  In addition, the Company
expects to generate additional cash from operations through the
end of the year.

A hearing to consider approval of the disclosure statement for the
proposed plan is scheduled for September 7, 2011.

Nicholas McGrane, Interim President and Chief Executive Officer of
Sbarro, said, "The plan gives us a clear path to emerge from the
bankruptcy process with significantly reduced debt and increased
financial flexibility and liquidity.  Sbarro continues to perform
well, experiencing positive same store sales and outpacing mall
traffic in the first half of 2011.  Despite a challenging economic
environment, Sbarro remains a strong company with one of the most
recognizable restaurant brands in the world.  As we seek to
implement our balance sheet restructuring, Sbarro's restaurants
will continue to operate in the normal course and without
interruption and will be positioned to compete more effectively
going forward."

To ensure maximum recoveries for all stakeholders, Sbarro intends
to file shortly a motion to approve bidding procedures and
establish an auction process for interested parties to "top" the
stalking horse proposal in the current plan while the Chapter 11
cases are still pending.  This overbid process will also allow
qualified bidders acceptable to a steering committee of the
Company's first lien lenders to take advantage of a $110 million
"stapled" financing option offered by certain of the Company's
first lien lenders in support of any qualified overbid.  The
Company is currently in discussions with a number of interested
parties considering submitting competing proposals.

The Company is being advised by Kirkland & Ellis LLP, its legal
counsel, and Rothschild Inc., its financial advisor.  Cantor
Fitzgerald Securities, the agent for Sbarro's first lien lenders
and post-petition debtor-in-possession lenders, is being advised
by Davis Polk & Wardwell LLP, its legal counsel, and Conway Del
Genio Gries & Co., LLC, its financial advisor.

Sbarro filed for bankruptcy protection on April 4, 2011.  The
chapter 11 cases are pending before the Honorable Shelley C.
Chapman in the United States Bankruptcy Court for the Southern
District of New York under case number 11-11527 (SCC).

                      About Sbarro Inc.

The Sbarro family started its business after moving to Brooklyn,
New York, from Naples, Italy, in 1956.  Today Sbarro is a leading,
global Italian quick service restaurant concept with approximately
5,170 employees, 1,045 restaurants throughout 42 countries, and
annual revenues in excess of $300 million.

Sbarro Inc. sought bankruptcy protection under Chapter 11 (Bankr.
S.D.N.Y. Lead Case No. 11-11527) to eliminate about $200 million
in debt.  According to its schedules, the Debtor disclosed
$51,537,899 in total assets and $460,975,646 in total debts.

Sbarro said it has reached an agreement with all of its second-
lien secured lenders and approximately 70% of its senior
noteholders on the terms of a reorganization plan that will
eliminate more than half of the Company's total indebtedness.

Edward Sassower, Esq., and Nicole Greenblatt, Esq., at Kirkland &
Ellis, LLP, serve as the Debtors' general bankruptcy counsel.
Rothschild, Inc., is the Debtors' investment banker and financial
advisor.  PriceWaterhouseCoopers LLP is the Debtors' bankruptcy
consultants.  Marotta Gund Budd & Dzera, LLC, is the Debtors'
special financial advisor.  Curtis, Mallet-Prevost, Colt & Mosle
LLP serves as the Debtors' conflicts counsel.  Epiq Bankruptcy
Solutions, LLC, is the Debtors' claims agent.  Sard Verbinnen & Co
is the Debtors' communications advisor.  DJM Realty Services, LLC,
serves as the Debtors' real estate consultant and advisor.

On April 12, 2011, the U.S. Trustee for the Southern District of
New York appointed appointed an official committee of unsecured
creditors.  The Committee retained Mesirow Financial Consulting,
LLC, as financial advisor and Otterbourg, Houston & Rosen, P.C.,
as counsel.

On May 27, 2011, the Bankruptcy Court established (i8) July 8,
2011, as the general bar date for filing proofs of claim against
the Debtors' estates and (ii) Oct. 3, 2011, for governmental units
to file proofs of claim.


SCHOMAC GROUP: Files for Chapter 11 in Tucson, Arizona
------------------------------------------------------
Schomac Group Inc., a real-estate investment company, filed for
bankruptcy protection (Bankr. D. Ariz. Case No. 11-bk-22717) on
Aug. 9 in Tucson, Arizona, where it's based.   The Debtor
estimated assets and debt are as much as $50 million each.  A
meeting of creditors is scheduled for Sept. 8.  Tedco Inc., a
company that shares an address with Schomac Group, also filed for
bankruptcy.


SCI REAL ESTATE: Has Until Sept. 12 to File Chapter 11 Plan
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
extended the exclusive periods of SCI Real Estate Investments LLC
to file a Chapter 11 plan until Sept. 12, 2011, and solicit
acceptances of that plan until Nov. 8, 2011.

The Debtors said they need more time to facilitate negotiations,
which they believe will lead to prompt confirmation of a
consensual plan.   Soon after the commencement of the Chapter 11
cases, the Debtors initiated discussions with their largest
creditors, Wells Fargo and First Citizens Bank, regarding
negotiations of a plan.

                 About SCI Real Estate Investments

Los Angeles, California-based SCI Real Estate Investments,
LLC, filed for Chapter 11 bankruptcy protection (Bankr. C.D.
Calif. Case No. 11-15975) on Feb. 11, 2011.  Jeffrey W. Dulberg,
Esq., at Pachulski Stang Ziehl & Jones LLP, serves as the Debtor's
bankruptcy counsel.  Haskell & White LLP as accountant. Kennerly,
Lamishaw & Rossi LLP as special real estate counsel.  The Debtor
disclosed $55,431,222 in assets and $69,514,028 in liabilities as
of the Chapter 11 filing.


SCHOMAC GROUP: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: The Schomac Group, Inc.
        5997 E. Grant Road
        Tucson, AZ 85712

Bankruptcy Case No.: 11-22717

Chapter 11 Petition Date: August 9, 2011

Court: U.S. Bankruptcy Court
       District of Arizona (Tucson)

Judge: Eileen W. Hollowell

Debtor's Counsel: Frederick J. Petersen, Esq.
                  MESCH, CLARK & ROTHSCHILD, P.C.
                  259 N. Meyer Avenue
                  Tucson, AZ 85701
                  Tel: (520) 624-8886
                  Fax: (520) 798-1037
                  E-mail: ecfbk@mcrazlaw.com

                         - and -

                  Michael W. McGrath, Esq.
                  MESCH CLARK & ROTHSCHILD
                  259 North Meyer Avenue
                  Tucson, AZ 85701-1090
                  Tel: (520) 624-8886
                  Fax: (520) 798-1037
                  E-mail: ecfbk@mcrazlaw.com

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

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

The petition was signed by Ryan M. Schoff, president.

Debtor's List of 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
WMS Partners LP                    Contract                $90,369
5997 E. Grant Road
Tucson, AZ 85712

Sierra Pacific Windows             Contract                $90,000
P.O. Box 8489
Red Bluff, CA 96080

Michael W. Graf                    Contract                $74,048
227 Behrens Street
EL Centro, CA 94530

Chase Card Services                Contract                $25,817

First Insurance Funding Corp.      Insurance Funding       $12,547

Pacific Forest Products            Building Materials      $11,627

Fireman's Fund Insurance           Insurance                $8,471

Great American Insurance Company   Insurance                $7,793

Ron Tilford Electrical             Electrical Services      $5,890

Tile Outlet                        Supplier                 $5,701

Great American Insurance Group     Insurance                $5,035

Lathrop & Gage DC                  Legal Services           $3,223

Cetti Services                     --                       $2,639

Allied Insurance                   Insurance                $2,613

DHC Supplies Inc.                  Supplier                 $2,407

Stanton Mechanical Inc.            Services                 $2,295

Longfellow Building Supply         Supplier                 $2,165

Sierra Mountain Pipe & Supply      Services/Supplier        $1,840

Santa Lucia Preserve               --                       $1,700

Intermountain Disposal Inc.        Debris Disposal          $1,669


SEARCHMEDIA HOLDINGS: Annual Meeting Set for Sept. 13
-----------------------------------------------------
SearchMedia Holdings Limited's 2011 annual general meeting of
shareholders will be held at Floor 13, Central Modern Building,
468 Xinhui Road, Shanghai, China, 200060, on Sept. 13, 2011, at
9:00 a.m. local time for these purposes:

   1. To elect Mr. Robert Fried, Mr. Chi-Chuan, Mr. Steven D.
      Rubin, Peter W. H. Tan, and Ms. Qinying Liu as directors of
      the Company;

   2. To amend the Company's Amended and Restated 2008 Share
      Incentive Plan by increasing the number of authorized
      ordinary shares available for grant under the 2008 Plan from
      1,796,492 ordinary shares to 3,000,000 ordinary shares; and

   3. To approve, ratify and confirm the appointment of Marcum
      Bernstein & Pinchuk LLP as the Company's independent
      registered public accounting firm for the fiscal year ending
      Dec. 31, 2011.

The Board of Directors of the Company has fixed the close of
business on Aug. 1, 2011, as the record date for determining the
shareholders entitled to receive notice of and to vote at the
Meeting or any adjournment or postponement thereof.  In order to
regain compliance with NYSE Amex Company Guide Section 704, the
Meeting will also serve as the Company's 2010 annual general
meeting of shareholders.

                         About SearchMedia

SearchMedia is a leading nationwide multi-platform media company
and one of the largest operators of integrated outdoor billboard
and in-elevator advertising networks in China.  SearchMedia
operates a network of high-impact billboards and one of China's
largest networks of in-elevator advertisement panels in 50 cities
throughout China.  Additionally, SearchMedia operates a network of
large-format light boxes in concourses of eleven major subway
lines in Shanghai.  SearchMedia's core outdoor billboard and in-
elevator platforms are complemented by its subway advertising
platform, which together enable it to provide a multi-platform,
"one-stop shop" services for its local, national and international
advertising clients.

As reported by the TCR on July 6, 2011, Marcum Bernstein & Pinchuk
LLP, in New York, expressed substantial doubt about SearchMedia
Holdings' ability to continue as a going concern.  The independent
auditors noted that the Company has suffered recurring net losses
from operations and has a working capital deficiency.

The Company reported a net loss of $46.6 million on $49.0 million
of revenues for 2010, compared with a net loss of $22.6 million on
$37.7 million of revenues for 2009.

The Company's balance sheet at Dec. 31, 2011, showed $86.9 million
in total assets, $86.4 million in total liabilities, and
stockholders' equity of $463,000.


SEHANA CORPORATION: Case Summary & 6 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Sehana Corporation
          dba Shinchon Oriental Market
        11422 Harry Hines Boulevard, #210
        Dallas, TX 75229

Bankruptcy Case No.: 11-35086

Chapter 11 Petition Date: August 8, 2011

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

Judge: Barbara J. Houser

Debtor's Counsel: Joyce W. Lindauer, Esq.
                  JOYCE W. LINDAUER, ATTORNEY AT LAW
                  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: $1,000,001 to $10,000,000

A list of the Company's six largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/txnb11-35086.pdf

The petition was signed by Ki Pong Na, president.


SINCLAIR BROADCAST: Files Form 10-Q, Has $18.4-Mil. Profit in Q2
----------------------------------------------------------------
Sinclair Broadcast Group, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting
net income of $18.47 million on $186.58 million of total revenues
for the three months ended June 30, 2011, compared with net income
of $16.95 million on $183.19 million of total revenues for the
same period during the prior year.

The Company also reported net income of $33.60 million on
$366.07 million of total revenues for the six months ended
June 30, 2011, compared with net income of $27.94 million on
$350.65 million of total revenues for the same period during the
prior year.

The Company's balance sheet at June 30, 2011, showed $1.49 billion
in total assets, $1.63 billion in total liabilities and a $135.30
million total deficit.

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

                        http://is.gd/TrZ8EV

                      About Sinclair Broadcast

Based in Baltimore, Maryland, Sinclair Broadcast Group, Inc.
(Nasdaq: SBGI) -- http://www.sbgi.net/-- one of the largest and
most diversified television broadcasting companies, currently owns
and operates, programs or provides sales services to 58 television
stations in 35 markets.  The Company's television group reaches
roughly 22% of U.S. television households and includes FOX,
ABC, CBS, NBC, MNT, and CW affiliates.

                           *     *     *

As reported by the TCR on Feb. 24, 2011, Standard & Poor's Ratings
Services raised its corporate credit rating on Hunt Valley, Md.-
based TV broadcaster Sinclair Broadcast Group Inc. to 'BB-' from
'B+'.  The rating outlook is stable.  "The 'BB-' rating on
Sinclair reflects S&P's expectation that the company could keep
its lease-adjusted debt to EBITDA below historical levels
throughout the election cycle, absent a reversal of economic
growth, meaningful debt-financed acquisitions, or significant
shareholder-favoring measures," explained Standard & Poor's credit
analyst Deborah Kinzer.

Moody's raised its ratings for Sinclair Broadcast Group, Inc., and
subsidiary Sinclair Television Group, Inc., including the
Corporate Family Rating and Probability-of-Default Rating, each to
Ba3 from B1, and the ratings for individual debt instruments,
concluding its review for possible upgrade as initiated on
Aug. 5, 2010.  Moody's also assigned a B2 (LGD 5, 87%) rating to
the proposed $250 million issuance of Senior Unsecured Notes due
2018 by STG.  The Speculative Grade Liquidity Rating remains
unchanged at SGL-2.  The rating outlook is now stable.

As reported by the Troubled Company Reporter on Feb. 24, 2011,
Standard & Poor's Ratings Services raised its corporate credit
rating on Hunt Valley, Md.-based TV broadcaster Sinclair Broadcast
Group Inc. to 'BB-' from 'B+'.  The rating outlook is stable.

"The 'BB-' rating on Sinclair reflects S&P's expectation that the
company could keep its lease-adjusted debt to EBITDA below
historical levels throughout the election cycle, absent a reversal
of economic growth, meaningful debt-financed acquisitions, or
significant shareholder-favoring measures," explained Standard &
Poor's credit analyst Deborah Kinzer.


SK FOODS: Appeals Involving Former CEO Consolidated
---------------------------------------------------
Senior District Judge Lawrence K. Karlton issued a Related Case
Order on Aug. 8, 2011, consolidating various appeals pending
before the U.S. District Court for the Eastern District of
California involving Frederick Scott Salyer, former owner and CEO
of SK Foods L.P.  Those appeals were originally assigned to
different judges but will now be before Judge Karlton's courtroom.

Upon the notice of Bradley D. Sharp, Chapter 11 Trustee for SK
Foods, and Bank of Montreal, as Administrative Agent, successor by
Assignment to SK Foods, Judge Karlton said any dates currently set
in the reassigned cases are vacated.  A copy of the Related Case
Order is available at http://is.gd/1SQpLqfrom Leagle.com.

As reported by the Troubled Company Reporter on Feb. 19, 2010, a
federal grand jury returned a seven-count indictment charging Mr.
Salyer, 54, of Pebble Beach, Calif., with violations of the
Racketeer Influenced and Corrupt Organizations Act, in connection
with his direction of various schemes to defraud SK Foods'
corporate customers through bribery and food misbranding and
adulteration, and with wire fraud and obstruction of justice.

SK Foods LP ran a tomato processing facility.  It filed for
Chapter 11 bankruptcy protection after being dropped by its
lending group.  Creditors filed an involuntary Chapter 11 petition
against SK Foods LP and affiliate RHM Supply/ Specialty Foods Inc.
(Bankr. E.D. Calif. Case No. 09-29161) on May 8, 2009.  SK Foods
had said it was preparing to file a voluntary Chapter 11 petition
when the creditors initiated the involuntary case.  The Company
later put itself into Chapter 11 and Bradley D. Sharp was
appointed as Chapter 11 trustee.  The Debtors were authorized on
June 26, 2009, to sell the business for $39 million cash to a U.S.
arm of Singapore food processor Olam International Ltd.  The
replacement cost for the assets is $139 million, according to
Olam.


SOLAR DRIVE: Sec. 341 Creditors' Meeting Set for Sept. 8
--------------------------------------------------------
The U.S. Trustee for Region 16 in Los Angeles will convene a
Meeting of Creditors pursuant to 11 U.S.C. Sec. 341(a) in the
bankruptcy case of Solar Drive, LLC, on Sept. 8, 2011, at 1:30
p.m. at RM 2610, 725 S Figueroa St., in Los Angeles.

Los Angeles, California-based Solar Drive, LLC, filed for Chapter
11 bankruptcy (Bankr. C.D. Calif. Case No. 11-42298) on July 28,
2011.  Judge Peter Carroll presides over the case.  The Law
Offices of Carolyn A. Dye serves as bankruptcy counsel.  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 Tim Devine, manager.


SOUTH OF THE STADIUM: Taps Ross C. Helbing as Assets Appraiser
--------------------------------------------------------------
South of the Stadium I, LLC, asks the U.S. Bankruptcy Court for
the Northern District of Texas for permission to employ Ross C.
Helbing as appraiser.

Mr. Helbing will assist in valuing the principal asset of the
Debtor, real estate, for purposes of proposing and confirming a
plan of reorganization.

The Debtor proposes to compensate Mr. Helbing in these terms:

   -- a fee of $2,000 to prepare an appraisal of the Debtor's
   principal asset, real property; and

   -- a $200 per hour rate with a minimum of $800 for deposition
   and trial preparation and testimony and assistance with
   evaluation of any other appraisals and depositions and trial
   testimony of any other experts.

Mr. Helbing has received a retainer from the Debtor totaling
$1,000.

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

                About South of the Stadium I, LLC

South of the Stadium I, LLC, in Carrollton, Texas, filed a Chapter
11 petition (Bankr. N.D. Tex. Case No. 11-43278) on June 6, 2011.
Debtor-affiliates 261 CW Springs LTD (Bankr. N.D. Tex. Case No.
11-33757), WS Minerals LLC (Bankr. N.D. Tex. Case No. 11-43273),
and WS Mineral Holdings LLC (Bankr. N.D. Tex. Case No. 11-43290)
also filed on the same day.  Judge D. Michael Lynn presides over
the cases.  Richard W. Ward, Esq. -- rwward@airmail.net -- Plano,
Texas, serves as the Debtors' bankruptcy counsel.

South of the Stadium I, WS Minerals LLC, and WS Mineral Holdings
LLC each estimated assets and debts of $10 million to $50 million
in their petitions.  261 CW Springs estimated assets and debts of
$1 million to $10 million in its petition.  The petitions were
signed by Jeff Shirley, authorized representative.


SOUTHWEST GEORGIA ETHANOL: Requests More Time for Plan
------------------------------------------------------
Carla Main at Bloomberg News reports that Southwest Georgia
Ethanol LLC wants more time to submit a reorganization plan.  The
company asked to extend its period of exclusivity to file a plan
to Sept. 1 and to gather support for the proposal to Nov. 1,
saying in a court filing that the bankruptcy case is "large and
complex."

                      About Southwest Georgia

Southwest Georgia Ethanol LLC, a unit of First United Ethanol Co.,
sought bankruptcy protection (Bankr. M.D. Ga. 11-10145) in Albany,
Georgia, on Feb. 1, 2011.

The Debtor owns and operates an ethanol production facility
located on 267 acres in Mitchell County, Georgia, producing
100 million gallons of ethanol annually.  Ethanol production
operations commenced in October 2008.  Revenue was $168.9 million
for fiscal year ended Sept. 30, 2010.  The Debtor said
profitability and liquidity have been materially reduced by
unfavorable fluctuations in commodity prices for ethanol and corn.

John Michael Levengood, Esq., at McKenna Long & Aldridge LLP, in
Atlanta, Georgia, serves as counsel to the Debtor.  Morgan Keegan
& Company, Inc., is the investment banker and financial advisor.

The Debtor's balance sheet showed $164.7 million in assets and
$134.1 million in debt as of Dec. 31, 2010.

Since 2008, at least 11 ethanol-related companies have sought
court protection, including VeraSun Energy Corp., once the second-
largest U.S. ethanol maker; units of Pacific Ethanol Inc.; and
White Energy Holding Co.


SPANISH BROADCASTING: Acquires KTBU-TV for $16 Million
------------------------------------------------------
Spanish Broadcasting System, Inc., announced the acquisition of
KTBU-TV (Digital 42 / Virtual Channel 55) and other television
assets serving the Houston, Texas market from U.S. Farm & Ranch
Supply Company, Inc., for an aggregate purchase price of
approximately $16 million.  Spanish Broadcasting System will begin
operating the station on Aug. 2, 2011.  This station will be the
third owned or operated MegaTV facility in the U.S., in addition
to WSBS-TV in Miami and WMEI-TV in Puerto Rico.

KTBU-TV is a full power television station reaching approximately
1.8 million households in the Houston DMA through its over-the-
air, cable and satellite distribution platforms.  Houston is the
4th largest Hispanic market in the nation.

Since SBS launched MegaTV five years ago, the network has expanded
its distribution to 5.6 million households via over-the-air
affiliates in seven cities throughout the U.S. and Puerto Rico, as
well as cable (AT&T U-verse Channel 3008) and satellite (DIRECTV
Channel 405) distribution.  SBS leverages its diversified media
resources to provide marketing and advertising sales support to
MegaTV and develops original content for the network from
production facilities located in Miami and Puerto Rico. The
network also has correspondent bureaus in New York and Los
Angeles.

In addition, as part of the television station acquisition, the
Company entered into a lease agreement with USFR Equity Drive
Property LLC.  The lease agreement covers approximately 30,000
square feet of space in Houston, Texas, and specified furnishings
and broadcasting equipment.  The lease has an initial term of 10
years, subject to two 5-year extensions at the Company's option,
and is terminable at any time by the Company on not less than 180
days prior notice.  The lease also provides the Company with an
option to purchase the property and the furnishings and equipment
for a purchase price of $4 million if the purchase occurs during
the first 12 months of the lease term, increasing by 2.5% annually
each during each successive 12-month period of the lease term.

"This Houston acquisition marks another important watershed for
MegaTV as we increase viewership in the western region of the
country, reflecting our desire to replicate an augment our radio
footprint with TV penetration in the largest U.S. Hispanic
markets," stated SBS Chief Executive Officer, Raul Alarcon.
"Our strategic vision of integrating our Radio, TV, Entertainment
and Online properties is in full swing as we continue to seek out
unique growth opportunities with a clear eye on capturing the U.S.
Hispanic consumer," he added.

"The Houston DMA is our gateway to our Central/West Coast growth
strategy, where MegaTV will now debut its original programming for
a differentiated Latino audience.  We have a unique style and a
unique approach to Spanish-Language content, featuring renowned
talent and innovative formats that will allow MegaTV to continue
its successful ratings track record on a national level," stated
Albert Rodriguez, Chief Revenue Officer of SBS.

KTBU-TV Mega TV Channel 55, will feature MegaTV's early fringe and
prime time original programming block including the hit shows
"Paparazzi Magazine," "Esta Noche Tu Night" with Alexis Valdes"
and "Bayly," among others, and first-run novelas "Chepe Fortuna"
and "Mujeres de Lujo."  Also, for the first time, the Houston
market will have access to the popular daily Radio/TV simulcast of
"El Vacilon del Mandril," live from SBS sister-station KLAX-FM in
Los Angeles.

"We are proud to introduce high-quality, award winning original
programming to the growing Hispanic population in the Houston
market," said Jose R. Perez, Vice President of Programming of
MegaTV."  The launch of KTBU-TV expands our broadcast footprint
and strengthens our presence in the nation's Space City.  KTBU-TV
will fill the void in the market for alternative entertainment for
local Hispanics and offer advertisers a new, powerful option for
reaching this vibrant Latino community."

"With the completion of this strategic Houston transaction, SBS
and MegaTV have taken a significant step towards establishing
network penetration of the U.S. Hispanic market," said Alex
Aleman, VP of Operations of MegaTV.  "The station will play an
important role in the growth of our TV business - KTBU-TV will
allow us to provide the growing Hispanic population of Houston
with a new Spanish language television alternative."

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

                        http://is.gd/F3LLpl

                     About Spanish Broadcasting

Headquartered in Coconut Grove, Florida, Spanish Broadcasting
System, Inc. -- http://www.spanishbroadcasting.com/-- owns and
operates 21 radio stations targeting the Hispanic audience.  The
Company also owns and operates Mega TV, a television operation
with over-the-air, cable and satellite distribution and affiliates
throughout the U.S. and Puerto Rico.  Its revenue for the twelve
months ended Sept. 30, 2010, was approximately $140 million.

The Company reported net income of $15.04 million on $136.12
million of net revenue for the year ended Dec. 31, 2010, compared
with a net loss of $13.78 million on $139.39 million of net
revenue during the prior year.

The Company's balance sheet at March 31, 2011, showed
$476.63 million in total assets, $434.87 million in total
liabilities, $92.35 million in cumulative exchangeable redeemable
preferred stock, and a $50.58 million total stockholders' deficit.

                           *     *     *

In November 2010, Moody's Investors Service upgraded the corporate
family and probability of default ratings for Spanish Broadcasting
System, Inc., to 'Caa1' from 'Caa3' based on improved free cash
flow prospects due to better than anticipated cost cutting and the
expiration of an unprofitable interest rate swap agreement.
Moody's said Spanish Broadcasting's 'Caa1' corporate family rating
incorporates its weak capital structure, operational pressure in
the still cyclically weak economic climate, generally narrow
growth prospects (though Spanish language is the strongest growth
prospect) given the maturity and competitive pressures in the
radio industry, and the June 2012 maturity of its term loan
magnify this challenge.

In July 2010, Standard & Poor's Ratings Services raised its
corporate credit rating on Miami, Fla.-based Spanish Broadcasting
System Inc. to 'B-' from 'CCC+', based on continued improvement in
the company's liquidity position.  The rating outlook is stable.
"The rating action reflects S&P's expectation that, despite very
high leverage, SBS will have adequate liquidity over the
intermediate term to meet debt maturities, potential swap
settlements, and operating needs until its term loan matures on
June 11, 2012," said Standard & Poor's credit analyst Michael
Altberg.


SUMMO, INC.: Case Summary & 14 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Summo, Inc.
          fka Pinion Ridge, LLC
        215 Dittmer Avenue
        Pueblo, CO 81004

Bankruptcy Case No.: 11-28971

Chapter 11 Petition Date: August 9, 2011

Court: U.S. Bankruptcy Court
       District of Colorado (Denver)

Judge: Elizabeth E. Brown

Debtor's Counsel: Daniel K. Usiak, Jr., Esq.
                  USIAK LAW FIRM
                  128 S. Tejon Street, Suite 202
                  Colorado Springs, CO 80903
                  Tel: (719) 955-0143
                  Fax: (719) 328-0329
                  E-mail: daniel@usiaklaw.com

Scheduled Assets: $15,845,500

Scheduled Debts: $4,809,760

The petition was signed by John Musso, president.

Debtor's List of 14 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Gradisar Trechter Ripperger & Roth Legal Work              $23,000
1836 Vinewood Lane, Suite 200
Pueblo, CO 81005

Buxman Kwitek & Ohlsen, PC         Legal Work              $22,060
601 N. Main Street, Suite 200
Pueblo, CO 81003

Pueblo County Treasurer            Parcel E                 $1,807
215 West 10th Street, Room 110
Pueblo, CO 81003-2968

Pueblo County Treasurer            Lot 61 Unit 16             $140

Pueblo County Treasurer            Lot 31 Unit 10              $62

Pueblo County Treasurer            Lot 24 Unit 10              $62

Pueblo County Treasurer            Lot 63 Unit 10              $62

Pueblo County Treasurer            Lot 75 Unit 10              $62

Pueblo County Treasurer            Lot 30 Unit 10              $62

Pueblo County Treasurer            Lot 64 Unit 10              $62

Pueblo County Treasurer            Lot 76 Unit 10              $62

Pueblo County Treasurer            Lot 112 Unit 10             $62

Pueblo County Treasurer            Lot 308 Unit 18             $62

Pueblo County Treasurer            Lot 35 Unit 18              $62


SWAMI SHREE: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Swami Shree, LLC
          dba La Quinta Inn and Suites
        254 S. Pennell Road
        Media, PA 19063

Bankruptcy Case No.: 11-25973

Chapter 11 Petition Date: August 4, 2011

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

Judge: David E. Rice

Debtor's Counsel: Curtis C. Coon, Esq.
                  COON & COLE, LLC
                  401 Washington Avenue, Suite 501
                  Towson, MD 21204
                  Tel: (410) 244-8800
                  Fax: (410) 244-8801
                  E-mail: cccoon@ccclaw.net

Scheduled Assets: $338,140

Scheduled Debts: $4,861,772

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/mdb11-25973.pdf

The petition was signed by Vasudev Patel, managing member.


SWEET HOSPITALITY: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Sweet Hospitality, LLC
        4300 N. Ocean Boulevard, 2P
        Fort Lauderdale, FL 33308

Bankruptcy Case No.: 11-32124

Chapter 11 Petition Date: August 7, 2011

Court: U.S. Bankruptcy Court
       Southern District of Florida (Fort Lauderdale)

Judge: John K Olson

Debtor's Counsel: David A. Ray, Esq.
                  HOUGH LAW GROUP, P.A.
                  320 SE 11 Stree
                  Ft Lauderdale, FL 33316
                  Tel: (954) 239-4760
                  Fax: (954) 239-4761
                  E-mail: dray@houghlawgroup.com

Scheduled Assets: $288,200

Scheduled Debts: $4,579,482

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/flsb11-32124.pdf

The petition was signed by Hussein Shehata, manager.


TCI COURTYARD: Meeting of Creditors on Aug. 31
----------------------------------------------
Carla Main at Bloomberg News reports that a meeting of creditors
of TCI Courtyard Inc., has been scheduled for Aug. 31.  The
deadline for filing a claim, for nongovernmental claimants, is
Nov. 29.

TCI Courtyard, a hotel company, filed a Chapter 11 petition
(Bankr. N.D. Tex. Case No. 11-34977) on Aug. 1, 2011.  Eric A.
Liepins, Esq., at Eric A. Liepins, P.C., in Dallas, serves as
counsel.  The Debtor estimated assets of up to $10 million and
debts of up to $50 million.


THREE D'S: Case Summary & 4 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: Three D's LLC
          dba Baymont Inn of Wilmington
        P.O. Box 717
        Norlina, NC 27563

Bankruptcy Case No.: 11-06070

Chapter 11 Petition Date: August 8, 2011

Court: U.S. Bankruptcy Court
       Eastern District of North Carolina (Wilson)

Debtor's Counsel: George M. Oliver, Esq.
                  OLIVER FRIESEN CHEEK, PLLC
                  P.O. Box 1548
                  New Bern, NC 28563
                  Tel: (252) 633-1930
                  Fax: (252) 633-1950
                  E-mail: efile@ofc-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 four largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/nceb11-06070.pdf

The petition was signed by Danny Moss, member/manager.


T.O.D.A.Y.S. YOUTH: Files for Chapter 11 Bankruptcy Protection
--------------------------------------------------------------
Michael Schwartz at Richmond BizSense reports that Ashland-based
T.O.D.A.Y.S. Youth Services LLC filed for Chapter 11 bankruptcy
protection, listing $1.4 million in debt.

According to the report, almost $1 million of those liabilities
were owed to the IRS.  It also owes $124,000 to the Virginia
Department of Taxation.  The company is disputing the federal and
state tax liabilities, according to its bankruptcy filing.

The report says T.O.D.A.Y.S., which is an acronym for Today's
Opportunities Directly Affect Youth Success, has offices in
Richmond and Petersburg.  The company offers short-term mental
health and community services to at-risk youth and families to
identify and reduce inappropriate actions, to maintain baseline
behaviors and to improve their ability to interact with adults and
peers.

The Company is represented in its bankruptcy by the law office of
Corine E.G. Bailey.


T.O.D.A.Y.S. YOUTH: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: T.O.D.A.Y.S. Youth Services LLC
        10035 Silding Hill Road, Suite 206
        Ashland, VA 23005

Bankruptcy Case No.: 11-35068 (11-35069)

Chapter 11 Petition Date: August 5, 2011

Court: U.S. Bankruptcy Court
       Eastern District of Virginia (Richmond)

Judge: Kevin R. Huennekens

Debtor's Counsel: Corine E. G. Bailey, Esq.
                  LAW OFFICE OF CORINE E.G. BAILEY PC
                  116 N. Sycamore Street
                  P.O. Box 548
                  Petersburg, VA 23804
                  Tel: (804) 722-1457
                  E-mail: CorineB55@aol.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/vaeb11-35069.pdf

The petition was signed by Aric T. Melton, managing member.


TP INC: Trustee Can Retain Cameron Management as Agent/Broker
-------------------------------------------------------------
The Hon. Stephani W. Humrickhouse of the U.S. Bankruptcy Court for
the Eastern District of North Carolina authorized Algernon L.
Butler, III, appointed trustee of TP Inc., to employ Cameron
Management, Inc. and R. Hill Rogers of that firm as agent/broker.

Cameron is assisting the trustee in the administration of the
estate, locating a buyer and selling the property and any other
properties of the Debtor which the trustee might subsequently
request for the agent/broker to handle.

The property of the estate that the trustee intends to sell
includes a couple tracts of land located on Country Club Drive,
Hampstead, Pender County, North Carolina comprising approximately
47.2 acres more or less.

The trustee will compensate the agent/broker by paying a
commission of 5% of the total sales price of the property if sold
in-house, and 8% if co-brokered, with the compensation and any
reimbursement to be paid to the agent/broker to be subject to
further application and order of the Court at such time as the
property is proposed to be sold.

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

The Court also ordered that Cameron is permitted to engage in a
dual-agency agreement with the trustee pursuant to which an
agent/broker employed by Cameron other than Mr. Rogers is
permitted to serve as agent/broker for prospective purchasers of
the property.

The Court further ordered that any third-party in possession of
the property will cooperate with the trustee and the trustee's
agents, including the agent/broker, with regard to the trustee's
marketing, showing, and selling of the property listed by the
agent/broker and must vacate the property at the request of the
trustee and prior to the closing of any sale of the property
approved by the Court.

The Court's order authorizing the employment of the agent/broker
will remain effective after any conversion of th case to
Chapter 7.

                          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
(Bankr. E.D. N.C. Case No. 10-01594) on March 1, 2010.  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.


TP INC: Trustee Can Hire Treasure Realty as Property Manager
------------------------------------------------------------
The Hon. Stephani W. Humrickhouse of the U.S. Bankruptcy Court for
the Eastern District of North Carolina authorized Algernon L.
Butler, III, appointed trustee of TP Inc., to employ Treasure
Realty, Inc., of Sneads Ferry, NC, and Sherrie Hoops as property
manager for the rental and maintenance certain property.

The Court ordered that the property manager, will be entitled
to a 10% of the gross rental income received.  Since the filing of
the application, the property manager, at the request of the
Bankruptcy Administrator and the trustee, has agreed to reduce its
commission from 15% to 10%.

It is further ordered that the order authorizing the employment
and compensation of the property manager will remain effective
after any conversion of this case to Chapter 7.

                         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
(Bankr. E.D. N.C. Case No. 10-01594) on March 1, 2010.  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.


TP INC: Trustee Taps Century 21 Action as Rental Property Manager
-----------------------------------------------------------------
The Hon. Stephani W. Humrickhouse of the U.S. Bankruptcy Court for
the Eastern District of North Carolina approved the consent order
entered between Algernon L. Butler, III, appointed trustee of TP
Inc., and Bank of America.

Bank of America asserts that it holds a promissory note secured by
deeds of trust on numerous parcels of real property in Pender and
Onslow counties, which property constitutes property of the
bankruptcy estate.  In June 2009, Bank of America initiated
foreclosure proceedings on the properties after the Debtor
defaulted under the note.

On June 20, 2011, Bank of America filed a limited objection to
authorizing the trustee or property manager to enter into new
leases or renew existing leases on the properties.  Bank of
America also objected to the trustee's proposal that the property
manager pay the net rental proceeds from the properties to the
trustee instead of Bank of America.

The parties believe that it would be in the best interest of the
estate for the trustee to be authorized to enter into leases of
the properties and other real property of the estate.

Pursuant to the consent order between the trustee and Bank of
America:

   1. The trustee is authorized to employ Century 21 Action, Inc.
   of Surf City, NC, and Scott Erickson of that firm as property
   manager.  The firm is assisting the trustee in the
   administration of the estate with regard to the leasing and
   management of the properties and any other properties of the
   estate which the trustee might subsequently request for the
   property manager to handle.

   2. The property manager will be entitled to a commission of 12%
   of the net rental income received through July 31, and 10% of
   the net rental income received August 1, and afterwards, and to
   reimbursement of all actual, reasonable and necessary expenses
   paid for the maintenance, utilities and other incidental
   expenses of the properties, without further notice or hearing.

   4. The trustee will be authorized to enter into leases (both
   new leases and renewals of existing leases) of the properties
   and any other properties of the estate, and will be authorized
   to permit the property manager to enter into such leases on
   behalf of the trustee, without further notice or hearing.

   5. Until such time as the Court orders otherwise, the trustee
   will receive all rental proceeds from the properties after
   deduction of the allowed compensation and reimbursement of the
   property manager, and will deposit and maintain such net rental
   proceeds in a segregated account.

   6. Bank of America may request that the Court reconsider this
   provision allowing the trustee to receive the net rental
   proceeds at any hearing conducted by the Court on the motion to
   set aside consent order filed by the Debtor on March 16, 2011,
   or otherwise upon no less than 30 days notice to the trustee.

   7. The trustee will be authorized to make such reasonable and
   necessary expenditures from the rental proceeds generated by
   the properties.

   8. To the extent that it is determined that Bank of America
   holds a valid and enforceable security interest in the
   properties, the compensation and reimbursement allowed to the
   property manager  will be deemed to have been allowed.

                         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
(Bankr. E.D. N.C. Case No. 10-01594) on March 1, 2010.  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.


TRISTAR ESPERANZA: Case Summary & 4 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: TRISTAR Esperanza Properties, LLC
        30242 Esperanza
        Rancho Santa Margari, CA 92688

Bankruptcy Case No.: 11-21095

Chapter 11 Petition Date: August 8, 2011

Court: United States Bankruptcy Court
       Central District Of California (Santa Ana)

Judge: Theodor Albert

Debtor's Counsel: Ian Landsberg, Esq.
                  LANDSBERG & ASSOCIATES APC
                  16030 Ventura Blvd Ste 470
                  Encino, CA 91436
                  Tel: (818) 855-5900
                  Fax: (818) 855-5910
                  E-mail: ilandsberg@landsberg-law.com

Estimated Assets: $0 to $50,000

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

A list of the Company's four largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/cacb11-21095.pdf

The petition was signed by Thomas Veale, managing member.


UNIFI INC: Completes Call for Partial Redemption of Senior Notes
----------------------------------------------------------------
Unifi, Inc., completed the previously announced redemption of an
aggregate principal amount of $10,000,000 of its 11.5% Senior
Secured Notes due 2014.  The Company redeemed the Notes pursuant
to their terms at 102.875% of the principal amount plus unpaid and
accrued interest.

The total aggregate redemption price was approximately $10.5
million, including approximately $0.3 million in accrued interest.
The Company financed the redemption through borrowings under its
revolving credit facility.  Since June 30, 2010, the Company has
retired $55.0 million in principal amount of the Notes.  Upon
completion of this partial redemption, approximately $123.7
million principal amount of the Notes remain outstanding.

As a result of this partial redemption, the Company expects to
record in the first quarter of fiscal 2012 a one-time charge for
early extinguishment of debt of $0.5 million (of which $0.2
million is a non-cash charge related to the write off of
unamortized debt issuance costs), or about $0.02 per share.  The
Company expects this partial redemption to result in savings of
approximately $0.8 million in annualized net interest expense.

                            About Unifi

Unifi, Inc. (NYSE: UFI) -- http://www.unifi.com/and
http://www.repreve.com/-- is a diversified producer and processor
of multi-filament polyester and nylon textured yarns and related
raw materials.

In December 2010, Standard & Poor's Ratings Services said that it
raised its corporate credit and senior secured debt ratings on
Greensboro, N.C.-based Unifi Inc. to 'B' from 'B-'.  The ratings
upgrade and stable outlook reflect S&P's belief that Unifi will
continue to improve its operating performance and sustain its
recently strengthened credit measures as it end-use markets
continue to recover.

                           *    *     *

This concludes the Troubled Company Reporter's coverage of Unifi
Inc. until facts and circumstances, if any, emerge that
demonstrate financial or operational strain or difficulty at a
level sufficient to warrant renewed coverage.


VITRO SAB: Noteholders Want Recognition Petition Dismissed
----------------------------------------------------------
The members of the Ad Hoc Group of Vitro Noteholders ask the U.S.
Bankruptcy Court for the Northern District of Texas to dismiss the
case purportedly commenced by the filing of the recognition
petition by Alejandro Francisco Sanchez-Mujica and Javier
Arechavleta Santos.

The Adhoc Group serves as holders of or managers of entities that
hold beneficial interests in three series of notes issued by
Vitro, S.A.B. de CV and guaranteed by Vitro Packaging de Mexico
S.A. de CV, and parties-in-interest in the Debtors' cases.

According to the Noteholders, VPM's recognition petition must be
denied as a matter of law because VPM's center of main interest is
not in Mexico, the petitioners are not eligible under the Mexican
law to be its foreign representatives and because VPM is not
currently party to a foreign proceeding within the meaning of
Section 101(23) of the Bankruptcy Code.

                        About Vitro SAB

Headquartered in Monterrey, Mexico, Vitro, S.A.B. de C.V. (BMV:
VITROA; NYSE: VTO), through its two subsidiaries, Vitro Envases
Norteamerica, SA de C.V. and Vimexico, S.A. de C.V., is the
largest manufacturer of glass containers and flat glass in Mexico,
with consolidated net sales in 2009 of MXN23,991 million (US$1.837
billion).

Vitro defaulted on its debt in 2009 and sought to restructure
around US$1.5 billion in debt, including US$1.2 billion in notes.
Vitro launched an offer to buy back or swap US$1.2 billion in debt
from bondholders.  The tender offer would be consummated with a
bankruptcy filing in Mexico and Chapter 15 filing in the United
States.  Vitro said noteholders would recover as much as 73% by
exchanging existing debt for cash, new debt or convertible bonds.

            Concurso Mercantil & Chapter 15 Proceedings

Vitro SAB on Dec. 13, 2010, filed its voluntary petition for a
pre-packaged Concurso Plan in the Federal District Court for Civil
and Labor Matters for the State of Nuevo Leon, commencing its
voluntary concurso mercantil proceedings -- the Mexican equivalent
of a prepackaged Chapter 11 reorganization.  Vitro SAB also
commenced parallel proceedings under Chapter 15 of the U.S.
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 10-16619) in Manhattan
on Dec. 13, 2010, to seek U.S. recognition and deference to its
bankruptcy proceedings in Mexico.

Early in January 2011, the Mexican Court dismissed the Concurso
Mercantil proceedings.  The judge said Vitro couldn't push through
a plan to buy back or swap US$1.2 billion in debt from bondholders
based on the vote of US$1.9 billion of intercompany debt when
third-party creditors were opposed.  Vitro as a result dismissed
the first Chapter 15 petition following the ruling by the Mexican
court.

On April 12, 2011, an appellate court in Mexico reinstated the
reorganization.  Accordingly, Vitro SAB on April 14 re-filed a
petition for recognition of its Mexican reorganization in U.S.
Bankruptcy Court in Manhattan (Bankr. S.D.N.Y. Case No. 11-11754).

In the present Chapter 15 case, the Debtor seeks to block any
creditor suits in the U.S. pending the reorganization in Mexico.

On June 29, 2011, Vitro Packaging de Mexico S.A. de C.V. commenced
a voluntary judicial reorganization proceeding under the Ley de
Concursos Mercantiles before the Federal District Court for Civil
and Labor Matters for the State of Nuevo Leon, the United Mexican
States.  On June 30, 2011, Vitro Packaging filed a chapter 15
petition (Bankr. N.D. Tex. Case No. 11-34224).

Alejandro Francisco Sanchez-Mujica and Javier Arechavaleta Santos
serve as Foreign Representatives of Vitro S.A.B. de C.V. and Vitro
Packaging de Mexico S.A. de C.V.  The Foreign Representatives are
represented by David M. Bennett, Esq., Katharine E. Battaia, Esq.,
and Cassandra A. Sepanik, Esq., at Thompson & Knight LLP, and
Andrew M. Leblanc, Esq., Risa M. Rosenberg, Esq., Thomas J. Matz,
Esq., and Jeremy C. Hollembeak, Esq., at Milbank Tweed Hadley &
McCloy LLP.

Attorneys for the Ad Hoc Group of Vitro Noteholders are Jeff P.
Prostok, Esq., and Lynda L. Lankford, Esq., at Forshey & Prostok,
LLP, and Allan S. Brilliant, Esq., Benjamin E. Rosenberg, Esq.,
Craig P. Druehl, Esq., and Dennis H. Hranitzky, Esq., at Dechert
LLP.

                      Chapter 11 Proceedings

A group of noteholders, namely Knighthead Master Fund, L.P., Lord
Abbett Bond-Debenture Fund, Inc., Davidson Kempner Distressed
Opportunities Fund LP, and Brookville Horizons Fund, L.P., opposed
the exchange.  Together, they held US$75 million, or approximately
6% of the outstanding bond debt.  The Noteholder group commenced
involuntary bankruptcy cases under Chapter 11 of the U.S.
Bankruptcy Code against Vitro Asset Corp. (Bankr. N.D. Tex. Case
No. 10-47470) and 15 other affiliates on Nov. 17, 2010.

Vitro engaged Susman Godfrey, L.L.P. as U.S. special litigation
counsel to analyze the potential rights that Vitro may exercise in
the United States against the ad hoc group of dissident
bondholders and its advisors.

A larger group of noteholders known as the Ad Hoc Group of Vitro
Noteholders -- comprised of holders, or investment advisors to
holders, which represent approximately US$650 million of the
Senior Notes due 2012, 2013 and 2017 issued by Vitro -- was not
among the Chapter 11 petitioners, although the group has expressed
concerns over the exchange offer.  The group says the exchange
offer exposes Noteholders who consent to potential adverse
consequences that have not been disclosed by Vitro.  The group is
represented by John Cunningham, Esq., and Richard Kebrdle, Esq. at
White & Case LLP.

The U.S. affiliates subject to the involuntary petitions are Vitro
Chemicals, Fibers & Mining, LLC (Bankr. N.D. Tex. Case No. 10-
47472); Vitro America, LLC (Bankr. N.D. Tex. Case No. 10-47473);
Troper Services, Inc. (Bankr. N.D. Tex. Case No. 10-47474); Super
Sky Products, Inc. (Bankr. N.D. Tex. Case No. 10-47475); Super Sky
International, Inc. (Bankr. N.D. Tex. Case No. 10-47476); VVP
Holdings, LLC (Bankr. N.D. Tex. Case No. 10-47477); Amsilco
Holdings, Inc. (Bankr. N.D. Tex. Case No. 10-47478); B.B.O.
Holdings, Inc. (Bankr. N.D. Tex. Case No. 10-47479); Binswanger
Glass Company (Bankr. N.D. Tex. Case No. 10-47480); Crisa
Corporation (Bankr. N.D. Tex. Case No. 10-47481); VVP Finance
Corporation (Bankr. N.D. Tex. Case No. 10-47482); VVP Auto Glass,
Inc. (Bankr. N.D. Tex. Case No. 10-47483); V-MX Holdings, LLC
(Bankr. N.D. Tex. Case No. 10-47484); and Vitro Packaging, LLC
(Bankr. N.D. Tex. Case No. 10-47485).

A bankruptcy judge in Fort Worth, Texas, denied involuntary
Chapter 11 petitions filed against four U.S. subsidiaries.  On
April 6, 2011, Vitro SAB agreed to put Vitro units -- Vitro
America LLC and three other U.S. subsidiaries -- that were subject
to the involuntary petitions into voluntary Chapter 11.  The Texas
Court on April 21 denied involuntary petitions against the eight
U.S. subsidiaries that didn't consent to being in Chapter 11.
The U.S. subsidiaries subsequently sold their businesses to an
affiliate of Sun Capital Partners Inc. for $55 million.

Kurtzman Carson Consultants is the claims and notice agent to
Vitro America, et al.  Alvarez & Marsal North America LLC is the
Debtors' operations and financial advisor.

The official committee of unsecured creditors appointed in the
Chapter 11 cases of Vitro America, et al., has selected Sarah Link
Schultz, Esq., at Akin Gump Strauss Hauer & Feld LLP, in Dallas,
Texas, and Michael S. Stamer, Esq., Abid Qureshi, Esq., and Alexis
Freeman, Esq., at Akin Gump Strauss Hauer & Feld LLP, in New York,
as counsel.


WASTE2ENERGY HOLDINGS: Four Creditors File Involuntary Petition
---------------------------------------------------------------
One company and three individuals allegedly holding $3.2 million
of bonds of Waste2Energy Holdings, Inc., filed an involuntary
chapter 11 bankruptcy petition against the Company in Wilmington,
Delaware.

The petitioning creditors are asking the Bankruptcy Court to
appoint an independent trustee to take over its operations.

Chapter11Cases.com reports that on Feb. 11, 2011, Waste2Energy
Holdings entered into an asset purchase agreement with WTE Waste
to Energy Canada Inc., whereby the Canadian company agreed to
acquire substantially all of the assets of Waste2Energy and each
of its subsidiaries in exchange for common shares aggregating 12%
of the fully diluted WTE Waste to Energy Canada Common Shares
outstanding as of the closing of the sale and assumption or
discharge of Waste2Energy's outstanding liabilities.  Waste2Energy
had approximately $17 million in liabilities, including $10.6
million of 12% convertible debentures and interest and
approximately $700,000 of 10% convertible debentures.  The sale
was expected to close on Feb. 28, 2011, but it is unclear from
court and SEC filings whether that sale was ever definitively
closed.

On April 14, a Scottish court ordered that Waste 2 Energy
Engineering Limited, one of Waste2Energy's subsidiaries be wound
up and an interim liquidator be appointed.  Waste 2 Energy
Engineering Limited ran a $35 million facility in Dumfries,
Scotland which was capable of converting 180 metric tons per day
of municipal and hazardous waste into energy.  '

In May, Waste2Energy terminated the employment of its president
and chief executive officer.

The company's stock was traded on the OTC "Pink Sheets" under the
symbol WTEZ.PK.

                    About Waste2Energy Holdings

Greenville, S.C.-based Waste2Energy Holdings, Inc. (Pink Sheets:
WTEZ) -- http://www.waste2energy.com/-- is a "cleantech"
technology company that designs, builds, installs and sells waste
to energy plants that generate "Renewable Green Power" converting
biomass or other solid waste streams traditionally destined for
landfills into clean renewable energy.

The Company incurred a net loss from continuing operations of
$4.0 million and used $1.8 million of cash in continuing
operations for the three months ended June 30, 2010.  At June 30,
2010, the Company had a working capital deficit of $8.8 million
and a $34.5 million accumulated deficit.

The Company's balance sheet at June 30, 2010, showed $3.4 million
in total assets, $11.7 million in total liabilities, and a
stockholders' deficit of $8.3 million.

As reported in the Troubled Company Reporter on July 19, 2010,
Marcum LLP, in New York, expressed substantial doubt Waste2Energy
Holdings' ability to continue as a going concern, following its
results for the fiscal year ended March 31, 2010.  The independent
auditors noted that the Company has incurred a significant loss
from continuing operations of $11.7 million and used cash of
$5.2 million for continuing operations which resulted in an
accumulated deficit of $30.4 million and a working capital
deficiency of $6.6 million as of March 31, 2010.

                             Default

As reported in the TCR on Feb. 2, 2011, the Company has not paid
approximately $276,000 of interest due on the of the Company's 12%
Senior Convertible Debentures (the "Debentures") due on Jan. 1,
2011, and as of Jan. 8, 2011, an additional Event of Default under
the Debentures has occurred on outstanding debentures having an
aggregate principal balance of $5,830,400 and an Event of Default
has occurred on outstanding Debentures having an aggregate
principal balance of $4,227,500 .


WASTE2ENERGY HOLDINGS: Bondholders Seek to Oust Management
----------------------------------------------------------
The four creditors who filed the involuntary chapter 11 bankruptcy
petition against Waste2Energy Holdings are asking the bankruptcy
court to remove Waste2Energy's existing management and replace
them with a chapter 11 trustee.

Chapter11cases.com notes the motion, which was accompanied by
several declarations, begins with the assertion that "[t]he
actions of W2E's current management present a sorry tale of
incompetence, avarice, and betrayal of W2E, its creditors, and its
investors."  In the ensuing pages, the motion makes extensive
claims about the company's operations and management, which it
calls "neither prudent nor reasonable."

Katy Stech, writing for Dow Jones' Daily Bankruptcy Review,
reports that the creditors, bondholders of Waste2Energy owed $3.2
million, argue that the company's top executives "have taken a
promising company with patents and other intellectual property for
producing green energy and have grossly mismanaged it for their
own personal aggrandizement."  They said Chairman Christopher
d'Arnaud Taylor and Chief Executive Joseph "John" Murphy's
collective management of the company has been "marked by
inappropriate uses of corporate funds, bullying of employees,
abuse of business partners, and open denigration of customers."

The bondholders filed their motion for a trustee Tuesday following
the involuntary bankruptcy petition they filed Monday with the
U.S. Bankruptcy Court in Wilmington, Delaware.

According to DBR, the bondholders also rued the executives'
decision to walk away from a legitimate business partnership with
a Canadian company that does similar work -- selling giant
machines that turn landfill-bound garbage into steam and other
forms of energy -- exposing them to more than $500 million in
liabilities and preventing the company from taking in money from
potentially lucrative projects.  That breakup could leave the
company "completely and hopelessly insolvent and destroy the
possibility of any real recovery to the petitioning creditors,
whose claims are a fraction of that amount," the bondholders said.

DBR relates that Mr. Murphy -- reached by email -- said the filing
caught him off guard because the company is already trying to
figure out how to repay its debts.  The company recently sent a
letter that laid out the details of an out-of-court repayment plan
to all bondholders, he said.

DBR also relates that in a Securities and Exchange Commission
filing dated Feb. 11, the company said it owed one group of
bondholders $10.6 million and another group of bondholders
$700,000.

"We have operated under a mandate of the board to take any and all
actions necessary to stabilize the financial affairs of the
company by capitalizing on potential business relationships to
satisfy all creditors without any preferences," Mr. Murphy said in
an email, according to DBR. "It now seems that a few of the
creditors feel they deserve more preference than others and we
will not allow the process to be abused in this manner."

DBR says Mr. Murphy declined to comment on the allegations of
mismanagement.  Mr. Taylor couldn't be reached Tuesday, according
to DBR.

Bankruptcy law gives the company 20 days to formally respond to
the filing.

                    About Waste2Energy Holdings

Greenville, S.C.-based Waste2Energy Holdings, Inc. (Pink Sheets:
WTEZ) -- http://www.waste2energy.com/-- is a "cleantech"
technology company that designs, builds, installs and sells waste
to energy plants that generate "Renewable Green Power" converting
biomass or other solid waste streams traditionally destined for
landfills into clean renewable energy.

The Company's balance sheet at June 30, 2010, showed $3.4 million
in total assets, $11.7 million in total liabilities, and a
stockholders' deficit of $8.3 million.

As reported in the Troubled Company Reporter on July 19, 2010,
Marcum LLP, in New York, expressed substantial doubt the Company's
ability to continue as a going concern, following its results for
the fiscal year ended March 31, 2010.  The independent auditors
noted that the Company has incurred a significant loss from
continuing operations of $11.7 million and used cash of
$5.2 million for continuing operations which resulted in an
accumulated deficit of $30.4 million and a working capital
deficiency of $6.6 million as of March 31, 2010.

                              Default

On October 30, 2010, a total of $87,500 of principal amount of the
Company's 12% Senior Convertible Debentures became due.  On
November 2, 2010, $40,000 of principal amount of the Debentures
became due.  The Company did not make the required payment on the
maturity date or by the cure period provided by the Debentures and
as result an Event of Default under the Debentures has occurred.
As a result of the Event of Default, the outstanding principal
amount of the Debentures plus accrued but unpaid interest,
liquidated damages and other amounts owing in respect thereof
through the date of the acceleration will become at the election
of the holder of the Debenture immediately due and payable in cash
at the Mandatory Default Amount.


WASTE2ENERGY HOLDINGS: Involuntary Chapter 11 Case Summary
----------------------------------------------------------
Alleged Debtor: Waste2Energy Holdings, Inc.
                1 Chick Springs Road, Suite 218
                Greenville, SC 29609

Bankruptcy Case No.: 11-12504

Involuntary Chapter 11 Petition Date: August8, 2011

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

Judge: Kevin J. Carey

Petitioners' Counsel: Frederick B. Rosner, Esq.
                      THE ROSNER LAW GROUP, LLC
                      824 N. Market Street, Suite 810
                      Wilmington, DE 19801
                      Tel: (302) 777-111

Creditors who signed the Chapter 11 petition:

    Petitioners                     Nature of Claim   Claim Amount
    -----------                     ---------------   ------------
Steven Benkovsky                    Bond Debt           $2,000,000
80 Raynor Avenue
Ronkonkoma, NY

Luppino Landscaping & Masonry, LLC  Bond Debt             $750,000
Carmelo Luppino
77 Sheather Road
Mount Kisco, NY

Andrew John Savage                  Bond Debt             $250,000
11 Rolling Hills Road
Sharon, CT 06069

William Paul Simmelink              Bond Debt             $200,000
736 Gatestone Street
Gaithersburg, MD 20878


WEST CORP: Files Form 10-Q; Posts $34.3 Million Net Income in Q2
----------------------------------------------------------------
West Corporation filed with the U.S. Securities and Exchange
Commission its quarterly report on form 10-Q reporting net income
of $34.37 million on $622.82 million of revenue for the three
months ended June 30, 2011, compared with net income of $36.29
million on $596.55 million of revenue for the same period during
the prior year.

The Company also reported net income of $68.95 million on $1.23
billion of revenue for the six months ended June 30, 2011,
compared with net income of $72.29 million on $1.19 billion of
revenue for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $3.23 billion
in total assets, $4.18 billion in total liabilities, $1.59 billion
in Class L common stock, and a $2.54 billion total stockholders'
deficit.

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

                        http://is.gd/7nq8hA

                       About West Corporation

Founded in 1986 and headquartered in Omaha, Nebraska, West
Corporation -- http://www.west.com/-- provides outsourced
communication solutions to many of the world's largest companies,
organizations and government agencies.  West Corporation has a
team of 41,000 employees based in North America, Europe and Asia.

The Company reported net income of $60.30 million on $2.39 billion
of revenue for the year ended Dec. 31, 2010, compared with net
income of $90.97 million on $2.38 billion of revenue during the
prior year.

                           *     *     *

West Corp. carries a 'B2' corporate rating from Moody's and 'B+'
corporate rating from Standard & Poor's.

Moody's Investors Service upgraded the ratings on West
Corporation's existing senior secured term loan to Ba3 from B1 and
the rating on $650 million of existing senior notes due 2014 to B3
from Caa1 upon the closing of its recent refinancing transactions.
Concurrently, Moody's affirmed all other credit ratings including
the B2 Corporate Family Rating and B2 Probability of Default
Rating.  The rating outlook is stable.

Standard & Poor's Ratings Services assigned Omaha, Neb.-based
business process outsourcer West Corp.'s proposed $650 million
senior unsecured notes due 2019 its 'B' issue-level rating (one
notch lower than the 'B+' corporate credit rating on the company).
The recovery rating on this debt is '5', indicating S&P's
expectation of modest (10% to 30%) recovery in the event of a
payment default.  The company will use proceeds from the proposed
transaction and some cash on the balance sheet to redeem its
$650 million 9.5% senior notes due 2014.


WESTMORELAND COAL: Incurs $7.9 Million Net Loss in Second Quarter
-----------------------------------------------------------------
Westmoreland Coal Company filed with the U.S. Securities and
Exchange Commission its quarterly report on form 10-Q reporting a
net loss of $7.91 million on $112.14 million of revenue for the
three months ended June 30, 2011, compared with net income of
$706,000 on $127.63 million of revenue for the same period during
the prior year.

The Company also reported a net loss of $26.64 million on $239.90
million of revenue for the six months ended June 30, 2011,
compared with a net loss of $3.03 million on $254.07 million of
revenue for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $772.37
million in total assets, $952.57 million in total liabilities and
a $180.20 million total deficit.

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

                        http://is.gd/IoCHBh

                       About Westmoreland Coal

Colorado Springs, Colo.-based Westmoreland Coal Company (NYSE
AMEX: WLB) -- http://www.westmoreland.com/-- is the oldest
independent coal company in the United States.  The Company's coal
operations include coal mining in the Powder River Basin in
Montana and lignite mining operations in Montana, North Dakota and
Texas.  Its power operations include ownership of the two-unit
ROVA coal-fired power plant in North Carolina.

The Company reported a net loss of $3.2 million on $506.1 million
of revenues for 2010, compared with a net loss of $29.2 million on
$443.4 million of revenues for 2009.  Operating income was
$20.5 million in 2010 compared to a loss of $31.8 million in 2009.

                          *     *     *

As reported in the TCR on March 4, 2011, Standard & Poor's Ratings
Services said that it assigned a 'CCC+' corporate credit rating to
Colorado Springs, Colorado-based Westmoreland Coal Co.  The rating
outlook is stable.


WESTMORELAND COAL: Registers 425,000 Shares of Common Stock
-----------------------------------------------------------
Westmoreland Coal Company filed with the U.S. Securities and
Exchange Commission a Pre-Effective Amendment No.1 to Form S-1
registration statement relating to the resale, from time to time,
by the Westmoreland Coal Company Retirement Plan Trust, referred
to as the selling securityholder or the Trust, of up to 425,000
shares of Westmoreland Coal Company common stock.  Shares of
common stock that may be offered and sold by selling
securityholder consist of 425,000 shares contributed by the
Company to the Trust in satisfaction of certain funding
obligations the Company has to the Trust.  The selling
securityholder received the securities in a transaction to which
the registration requirements of the Securities Act of 1933, as
amended, do not apply.

The prices at which the selling securityholder may sell the
securities will be determined by prevailing market prices or
through privately negotiated transactions and the selling
securityholder will be responsible for any discounts or
commissions due to brokers or dealers.  The Company will not
receive proceeds from the sale of the securities.  The Company has
agreed to bear the expenses of registering the securities covered
by this prospectus and any prospectus supplements.

The Company's common stock is listed on NASDAQ Global Market under
the symbol "WLB."  On Aug. 3, 2011, the last reported sale price
of the Company's common stock on the NASDAQ Global Market was
$14.09 per share.

A full-text copy of the amended prospectus is available for free
at http://is.gd/na9eaI

                      About Westmoreland Coal

Colorado Springs, Colo.-based Westmoreland Coal Company (NYSE
AMEX: WLB) -- http://www.westmoreland.com/-- is the oldest
independent coal company in the United States.  The Company's coal
operations include coal mining in the Powder River Basin in
Montana and lignite mining operations in Montana, North Dakota and
Texas.  Its power operations include ownership of the two-unit
ROVA coal-fired power plant in North Carolina.

The Company reported a net loss of $3.2 million on $506.1 million
of revenues for 2010, compared with a net loss of $29.2 million on
$443.4 million of revenues for 2009.  Operating income was
$20.5 million in 2010 compared to a loss of $31.8 million in 2009.

The Company's balance sheet at June 30, 2011, showed $772.37
million in total assets, $952.57 million in total liabilities and
a $180.20 million total deficit.

                          *     *     *

As reported in the TCR on March 4, 2011, Standard & Poor's Ratings
Services said that it assigned a 'CCC+' corporate credit rating to
Colorado Springs, Colorado-based Westmoreland Coal Co.  The rating
outlook is stable.


ZOTA PETROLEUMS: Files for Chapter 11 Bankruptcy Protection
-----------------------------------------------------------
Michael Schwartz at Richmond BizSense reports that gasoline sales
company Zota Petroleums LLC filed Chapter 11.  It disclosed assets
of less than $50,000 and liabilities between $1 million and $10
million.  Shashikant Zota is listed as president of the business.
It is being represented by local attorney Douglas A. Scott.


ZOTA PETROLEUMS: Case Summary & 14 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Zota Petroleums LLC
        11269 Silverstone Drive
        Mechanicsville, VA 23116

Bankruptcy Case No.: 11-35079

Chapter 11 Petition Date: August 7, 2011

Court: U.S. Bankruptcy Court
       Eastern District of Virginia (Richmond)

Judge: Douglas O. Tice, Jr.

Debtor's Counsel: Douglas Scott, Esq.
                  DOUGLAS A. SCOTT, PLC
                  1805 Monument Avenue, Suite 311
                  Richmond, VA 23220
                  Tel: (804) 257-9860
                  E-mail: BankruptcyCounsel@gmail.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 14 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/vaeb11-35079.pdf

The petition was signed by Shashikant Zota, managing member.


* Troubled N.Y. Health-Care Nonprofit May Lose Medicaid License
---------------------------------------------------------------
Dow Jones' DBR Small Cap reports that state officials are expected
to strip away the Medicaid license of a Bronx health-care
nonprofit controlled by an indicted former New York state senator,
Pedro Espada, according to individuals familiar with the
discussions.


* FDIC Discloses Bidders for Small Investor Program Pilot Sale
--------------------------------------------------------------
The Federal Deposit Insurance Corporation has closed on the first
sales in its Small Investor Program (SIP).  The pilot SIP involved
two competitive sales of equity interests (each, a Private Owner
Interest) in two limited liability companies (LLCs), each formed
by the FDIC in its receivership capacity to hold certain assets of
FirsTier Bank located in Louisville, Colorado, that failed on
January 28, 2011.The assets transferred by the FirsTier
receivership to the LLCs consist of 213 loans pooled by loan type.
A pool of performing and non-performing commercial real estate
loans and commercial acquisition and development and construction
loans and credit facilities (the CRE/CADC assets) were transferred
to one LLC and a pool of performing and non-performing residential
acquisition, development and construction loans and credit
facilities (the RADC assets) were transferred to the other LLC.

The purchaser of the Private Owner Interest in the LLC holding the
CRE/CADC assets was Acorn Loan Portfolio Private Owner IV, LLC.
(Acorn), Los Angeles, CA, which is owned by Calista Corporation, a
minority-owned business, FACP Mortgage Investments, LLC and
entities controlled by Oaktree Capital Group Holdings.  The
purchaser of the Private Owner Interest in the LLC holding the
RADC assets was HRC SVC Pool II Acquisition LLC (HRC), New York,
an entity controlled by Hudson Realty Capital LLC, a minority and
women owned business.

Acorn paid a total of approximately $25.6 million (net of working
capital) in cash for its initial 25% equity stake in the LLC
holding the CRE/CADC assets; its bid valued the CRE/CADC assets at
approximately 65% of the aggregate unpaid principal balance (UPB)
of such assets.  The CRE/CADC assets are comprised of 116 loans
with an aggregate UPB of approximately $158 million with the
highest concentration in Colorado (96%).  Acorn will provide for
the management, servicing and ultimate disposition of the LLC's
assets.

HRC paid a total of approximately $14.9 million (net of working
capital) in cash for its initial 25% equity stake in the LLC
holding the RADC assets; its winning bid valued the RADC assets at
approximately 43% of the aggregate UPB of such assets.  The RADC
assets are comprised of 97 loans with an aggregate UPB of
approximately $139 million with the highest concentration in
Colorado (95%).  HRC will provide for the management, servicing
and ultimate disposition of the LLC's assets.

The pilot SIP sales were conducted on a competitive basis,
offering bidders the option to bid on either or both a leveraged
structure (for a 50% equity interest) and an unleveraged structure
(for an initial 25% equity interest).  A total of 13 groups
submitted bids to purchase an equity interest in one or both of
the newly-formed LLCs.  Since both winning bids were unleveraged,
the Private Owner of each LLC initially will hold a 25 % Private
Owner Interest in such LLC and the FirsTier receivership will hold
the remaining 75% equity interest until all equity is returned.
After the return of equity, the receivership's interest in each
LLC will decrease to 50% and the Private Owner Interest will
correspondingly increase to 50%.

This pilot program was geared towards the small investor and
offered smaller sized asset pools and unique structural features
to make it more accessible for smaller investors and increase
participation in structured sales while maintaining a level
playing field for all investors.


* Moody's: U.S. Retail Default Rate Low During Recession
--------------------------------------------------------
The rate of retail defaults was "surprising low" and helped
businesses to weather the recession of 2007 to 2009, Moody's
Investors Service said Aug. 9 in a statement, according to Carla
Main at Bloomberg News.  "Better inventory management combined
with lower capital spending were two factors" in the ability of
U.S. retailers to come through the recession, Moody's said.
Moody's expects the U.S. speculative-grade default rate for rated
retailers to be 1.9% a year from now, said Maggie Taylor, a
Moody's vice president.


* Federal Home Loan Banks, Depository Trusts Cut by S&P
-------------------------------------------------------
Ten of the 12 Federal Home Loan Banks had their issuer credit
ratings and related issue ratings downgraded to AA+ from AAA,
according to a statement Aug. 8 by Standard & Poor's.  The senior
debt issued by the Federal Home Loan Bank System was also
downgraded to AA+ from AAA, the ratings service said in the
statement.  In addition, the Federal Farm Credit System had its
senior debt rating downgraded to AA+ from AAA by Standard &
Poor's.  The ratings on the individual farm member banks aren't
affected, the ratings company said in the statement.

The downgrades of 10 of the 12 Federal Home Loan Banks and the
Federal Home Loan Bank System's senior debt "reflect a one-notch
reduction in the U.S. sovereign rating," Standard & Poor's said in
the statement, referring to the action taken by the ratings
company on Aug. 5, when it downgraded the long-term sovereign
credit rating on the U.S. to AA+ from AAA, according to the Aug. 8
statement.

The outlooks for all 12 Federal Home Loan Banks "are negative,"
Standard &Poor's said in the statement.

            Depository Trust and Clearinghouses

Depository Trust Co., National Securities Clearing Corp., Fixed
Income Clearing Corp., and Options Clearing Corp. saw their long-
term counterparty credit ratings downgraded Aug. 8 to AA+ from AAA
by S&P.

The companies are removed from credit watch negative, where they
were placed July 15, S&P said in the statement, and the
"applicable short-term counterparty credit ratings are
unaffected." The outlooks on Depository Trust and the three
clearinghouses "are negative," according to the rating company's
statement.

The rating actions "follow the lowering of the long-term sovereign
credit rating" on the United States of America's long-term
sovereign debt that took place on Aug. 5, S&P said in the
statement. The downgrades of Depository Trust and the three
clearinghouses "are not the result of any company-specific event.
We have not changed our view of the fundamental soundness of their
depository or clearing operations.  Rather, the downgrades
incorporate potential incremental shifts in the macroeconomic
environment and the long-term stability of the U.S. capital
markets as a consequence of the decline in the creditworthiness of
the federal government," the ratings company said in the
statement.


* Ex. Gov. Carey, Who Helped NYC Duck Bankruptcy, Dies at 92
------------------------------------------------------------
Carla Main at Bloomberg News reports that Hugh Carey, the two-term
New York governor who helped New York City avert bankruptcy in
1975 by imposing financial controls and made tough choices on the
state level to cut taxes and balance the budget, has died.  He was
92.  He died early in the day on Aug. 7 at his summer home on
New York's Shelter Island, according to a statement from his
family released by New York Governor Andrew Cuomo's office.

"Governor Carey led our state during a time of great financial
turmoil and pulled us back from the brink of bankruptcy and
economic ruin," Mr. Cuomo said in a statement.  A Democrat who
served in Congress as a representative from the New York borough
of Brooklyn, Carey made financial discipline a priority from his
first days after taking over as governor in 1975.  By then, New
York City was already in a fiscal crisis.  Within months, banks
cut off the city's access to credit because it had run up a
$5 billion deficit by borrowing to pay operating expenses and
loans.

With his hand-picked partner from Wall Street, financier Felix
Rohatyn, Gov. Carey oversaw the effort that rescued the city from
a bond default.  Ultimately, U.S. government help was needed to
save the city -- and its last-resort lender, the state -- from
default.


* Dallas Bankruptcy Lawyer Mark Ralston Joins Taber Estes Thorne
----------------------------------------------------------------
The Dallas-based law firm of Taber Estes Thorne & Carr PLLC is
disclosed that Mark H. Ralston has joined the firm as a Partner.

With a national bankruptcy practice, Mr. Ralston represents
businesses in proceedings and related litigation in trial and
bankruptcy courts across the country.  He has more than 20 years
of experience representing secured and unsecured creditors,
creditor committees, purchasers in Section 363 sales, Chapter 11
debtors and Chapter 7 bankruptcy trustees.

"The team at Taber Estes Thorne & Carr is exceptional in both
legal talent and client service," says Mr. Ralston, who is
recognized in D Magazine's listing of The Best Lawyers in Dallas.
"I am thrilled to be joining an outstanding group of lawyers, and
I'm looking forward to the great work we will continue to do for
clients."

Prior to joining the firm, Mr. Ralston was a Partner and founder
of the Dallas office of Ciardi Ciardi & Astin. He earned his law
degree from the University of Virginia School of Law, where he was
a Moot Court board member.  He earned his undergraduate degree,
with distinction, from the University of Virginia College of Arts
& Sciences.

Taber Estes Thorne & Carr PLLC -- http://www.taberestes.com/--
is one of the few certified women-owned law firms in Dallas.  It
features a collaborative team of highly experienced attorneys,
representing clients in business litigation and transactions,
labor and employment, family law, health care, energy,
construction, bankruptcy, insurance and other corporate legal
matters.


* Recent Small-Dollar & Individual Chapter 11 Filings
-----------------------------------------------------

In Re Ana Duenas
   Bankr. C.D. Calif. Case No. 11-42822
      Chapter 11 Petition filed August 1, 2011

In Re Juana Kennedy
   Bankr. C.D. Calif. Case No. 11-42836
      Chapter 11 Petition filed August 1, 2011

In Re Raymond Albers
   Bankr. C.D. Calif. Case No. 11-20746
      Chapter 11 Petition filed August 1, 2011

In Re Richard Byrd
   Bankr. C.D. Calif. Case No. 11-42757
      Chapter 11 Petition filed August 1, 2011

In Re Progeny Corporation
   Bankr. E.D. Calif. Case No. 11-38855
      Chapter 11 Petition filed August 1, 2011
         filed pro se

In Re Ohlone I, LLC
   Bankr. N.D. Calif. Case No. 11-57222
      Chapter 11 Petition filed August 1, 2011
         filed pro se

In Re Harvey's Caretaking, Inc.
    Bankr. M.D. Fla. Case No. 11-14707
      Chapter 11 Petition filed August 1, 2011
         See http://bankrupt.com/misc/flmb11-14707.pdf

In Re FM Land, LLC
   Bankr. N.D. Ga. Case No. 11-72077
      Chapter 11 Petition filed August 1, 2011
         filed pro se

In Re Eber Freitas
   Bankr. D. Mass. Case No. 11-17343
      Chapter 11 Petition filed August 1, 2011

In Re Ivan Rubio
   Bankr. D. Mass. Case No. 11-17322
      Chapter 11 Petition filed August 1, 2011

   In Re Carlos Rubio
      Bankr. D. Mass. Case No. 11-17323
         Chapter 11 Petition filed August 1, 2011

In Re Detroit Global Properties, LLC
    Bankr. E.D. Mich. Case No. 11-60838
      Chapter 11 Petition filed August 1, 2011
         See http://bankrupt.com/misc/mieb11-60838p.pdf
         See http://bankrupt.com/misc/mieb11-60838c.pdf

In Re Ace Lock & Key Service, Incorporated
    Bankr. W.D. Mo. Case No. 11-43622
      Chapter 11 Petition filed August 1, 2011
         See http://bankrupt.com/misc/mowb11-43622p.pdf
         See http://bankrupt.com/misc/mowb11-43622c.pdf

In Re Phil Rosequist
   Bankr. D. Nev. Case No. 11-22184
      Chapter 11 Petition filed August 1, 2011

In Re BIGR Enterprises, Inc.
        dba Dante's Pizzeria & Ristorante
    Bankr. D. N.J. Case No. 11-33064
      Chapter 11 Petition filed August 1, 2011
         See http://bankrupt.com/misc/njb11-33064.pdf

In Re Frank R. DePaola DDS Associates, LLC
    Bankr. D. N.J. Case No. 11-33051
      Chapter 11 Petition filed August 1, 2011
         See http://bankrupt.com/misc/njb11-33051.pdf

In Re Robert Barnhill
   Bankr. E.D. N.C. Case No. 11-05840
      Chapter 11 Petition filed August 1, 2011

In Re Robert Barnhill
   Bankr. E.D. N.C. Case No. 11-05844
      Chapter 11 Petition filed August 1, 2011

In Re Kevin Edgell
   Bankr. N.D. Ohio Case No. 11-16695
      Chapter 11 Petition filed August 1, 2011

In Re Miguel Ramos Rivas
   Bankr. D. Puerto Rico Case No. 11-06544
      Chapter 11 Petition filed August 1, 2011

In Re Juan Aparicio
   Bankr. E.D. Texas Case No. 11-42385
      Chapter 11 Petition filed August 1, 2011

In Re Donald Valden
   Bankr. N.D. Texas Case No. 11-44389
      Chapter 11 Petition filed August 1, 2011

In Re Hickox Road Development, LP
    Bankr. N.D. Texas Case No. 11-34927
      Chapter 11 Petition filed August 1, 2011
         See http://bankrupt.com/misc/txnb11-34927.pdf

In Re Sheryl Overbeck
   Bankr. N.D. Texas Case No. 11-34920
      Chapter 11 Petition filed August 1, 2011

In Re Arthur Levine
   Bankr. S.D. Texas Case No. 11-36549
      Chapter 11 Petition filed August 1, 2011

In Re Joe and Abe Enterprises, L.L.C.
    Bankr. S.D. Texas Case No. 11-36687
      Chapter 11 Petition filed August 1, 2011
         See http://bankrupt.com/misc/txsb11-36687.pdf

In Re Aziz Shakarzahi
   Bankr. W.D. Texas Case No. 11-31481
      Chapter 11 Petition filed August 1, 2011

In Re EMB, Inc.
    Bankr. W.D. Texas Case No. 11-52672
      Chapter 11 Petition filed August 1, 2011
         See http://bankrupt.com/misc/txwb11-52672.pdf

In Re John Stephenson
      Shirley Stephenson
   Bankr. W.D. Texas Case No. 11-60851
      Chapter 11 Petition filed August 1, 2011

In Re Perfect Shape
   Bankr. W.D. Texas Case No. 11-11920
      Chapter 11 Petition filed August 1, 2011
         filed pro se

In Re Douglas E. Darling
   Bankr. E.D. Va. Case No. 11-15658
      Chapter 11 Petition filed August 1, 2011

In Re Bert Briones
   Bankr. C.D. Calif. Case No. 11-20818
      Chapter 11 Petition filed August 2, 2011

In Re Christopher Clemens
   Bankr. C.D. Calif. Case No. 11-13675
      Chapter 11 Petition filed August 2, 2011

In Re Gwendolyn Williams
   Bankr. C.D. Calif. Case No. 11-19245
      Chapter 11 Petition filed August 2, 2011

In Re Mathew Chavol
   Bankr. C.D. Calif. Case No. 11-19243
      Chapter 11 Petition filed August 2, 2011

In Re Rosario Perry
   Bankr. C.D. Calif. Case No. 11-20817
      Chapter 11 Petition filed August 2, 2011

In Re DKW Precision Machining Inc.
    Bankr. E.D. Calif. Case No. 11-38958
      Chapter 11 Petition filed August 2, 2011
         See http://bankrupt.com/misc/caeb11-38958.pdf

In Re Kenneth Knighten
   Bankr. E.D. Calif. Case No. 11-38954
      Chapter 11 Petition filed August 2, 2011

In Re Digvijay Patel
   Bankr. N.D. Calif. Case No. 11-12930
      Chapter 11 Petition filed August 2, 2011

In Re Omer Beaird
   Bankr. N.D. Calif. Case No. 11-32846
      Chapter 11 Petition filed August 2, 2011

In Re Thomas Burdick
   Bankr. N.D. Calif. Case No. 11-12934
      Chapter 11 Petition filed August 2, 2011

In Re Bertha LLamas
   Bankr. S.D. Calif. Case No. 11-12994
      Chapter 11 Petition filed August 2, 2011

In Re Green Cedar, LLC
    Bankr. M.D. Fla. Case No. 11-05716
      Chapter 11 Petition filed August 2, 2011
         See http://bankrupt.com/misc/flmb11-05716.pdf

In Re Magno Reategui
   Bankr. M.D. Fla. Case No. 11-11732
      Chapter 11 Petition filed August 2, 2011

In Re Paul Kappel
   Bankr. M.D. Fla. Case No. 11-05735
      Chapter 11 Petition filed August 2, 2011

In Re Randall Callahan
   Bankr. M.D. Fla. Case No. 11-14749
      Chapter 11 Petition filed August 2, 2011

In Re Time 48 Inc.
    Bankr. S.D. Fla. Case No. 11-31679
      Chapter 11 Petition filed August 2, 2011
         See http://bankrupt.com/misc/flsb11-31679.pdf

In Re ODC 140 100, LLC
    Bankr. N.D. Ga. Case No. 11-72630
      Chapter 11 Petition filed August 2, 2011
         See http://bankrupt.com/misc/ganb11-72630.pdf

   In Re ODC 140 200, LLC
      Bankr. N.D. Ga. Case No. 11-72633
         Chapter 11 Petition filed August 2, 2011

      In Re ODC Oakside, LLC
         Bankr. N.D. Ga. Case No. 11-72638
            Chapter 11 Petition filed August 2, 2011

In Re Ricky Martin
   Bankr. N.D. Ga. Case No. 11-72643
      Chapter 11 Petition filed August 2, 2011

In Re 4755 South St. Lawrence LLC
    Bankr. N.D. Ill. Case No. 11-31667
      Chapter 11 Petition filed August 2, 2011
         See http://bankrupt.com/misc/ilnb11-31667.pdf

In Re Red-Wies, Inc.
    Bankr. S.D. Iowa Case No. 11-03127
      Chapter 11 Petition filed August 2, 2011
         See http://bankrupt.com/misc/iasb11-03127.pdf

In Re Ruhieh Zayed
   Bankr. M.D. La. Case No. 11-11222
      Chapter 11 Petition filed August 2, 2011

In Re Prlanta of Michigan, Inc.
        fdba Prlanta of Michigan, Inc.
        dba Prlanta Fine Jewelry & Timepieces
    Bankr. E.D. Mich. Case No. 11-60979
      Chapter 11 Petition filed August 2, 2011
         See http://bankrupt.com/misc/mieb11-60979p.pdf
         See http://bankrupt.com/misc/mieb11-60979c.pdf

In Re George Newkirk
   Bankr. E.D. N.C. Case No. 11-05896
      Chapter 11 Petition filed August 2, 2011

In Re John Elmore
   Bankr. E.D. N.C. Case No. 11-05900
      Chapter 11 Petition filed August 2, 2011

In Re Sirena B1, LLC
    Bankr. D. N.J. Case No. 11-33151
      Chapter 11 Petition filed August 2, 2011
         See http://bankrupt.com/misc/njb11-33151.pdf

In Re V.M.E.P. CORP.
    Bankr. E.D.N.Y. Case No. 11-46702
      Chapter 11 Petition filed August 2, 2011
         See http://bankrupt.com/misc/nyeb11-46702.pdf

In Re SMK Laundromat, Inc.
    Bankr. S.D.N.Y. Case No. 11-13697
      Chapter 11 Petition filed August 2, 2011
         See http://bankrupt.com/misc/nysb11-13697.pdf

In Re Equino Properties, L.L.C.
    Bankr. S.D. Texas Case No. 11-50179
      Chapter 11 Petition filed August 2, 2011
         See http://bankrupt.com/misc/txsb11-50179.pdf

In Re Isaac Adkison
   Bankr. S.D. Texas Case No. 11-36728
      Chapter 11 Petition filed August 2, 2011

In Re Daniel Rivera
   Bankr. D. Ariz. Case No. 11-22335
      Chapter 11 Petition filed August 3, 2011

In Re Jay Lester
   Bankr. D. Ariz. Case No. 11-22307
      Chapter 11 Petition filed August 3, 2011

In Re Force -JRG, LLC
    Bankr. C.D. Calif. Case No. 11-43051
      Chapter 11 Petition filed August 3, 2011
         See http://bankrupt.com/misc/cacb11-43051.pdf

In Re Scott Tene
   Bankr. D. Colo. Case No. 11-28506
      Chapter 11 Petition filed August 3, 2011

In Re Dunrite Metal Fabricators, Inc.
    Bankr. M.D. Fla. Case No. 11-14777
      Chapter 11 Petition filed August 3, 2011
         See http://bankrupt.com/misc/flmb11-14777p.pdf
         See http://bankrupt.com/misc/flmb11-14777c.pdf

In Re Sheila Bates
   Bankr. M.D. Fla. Case No. 11-05752
      Chapter 11 Petition filed August 3, 2011

In Re David Sinbela
   Bankr. S.D. Fla. Case No. 11-31761
      Chapter 11 Petition filed August 3, 2011

In Re Peters Machine, Inc.
    Bankr. C.D. Ill. Case No. 11-72051
      Chapter 11 Petition filed August 3, 2011
         See http://bankrupt.com/misc/ilcb11-72051.pdf

In Re Hillstreet Overlook, LLC
    Bankr. D. Md. Case No. 11-25891
      Chapter 11 Petition filed August 3, 2011
         See http://bankrupt.com/misc/mdb11-25891.pdf

In Re Christopher Bunker
   Bankr. D. Nev. Case No. 11-22356
      Chapter 11 Petition filed August 3, 2011

In Re Agunloye Development Corporation
   Bankr. S.D.N.Y. Case No. 11-23575
      Chapter 11 Petition filed August 3, 2011
         filed pro se

In Re Cafe Amore of N.Y. Restaurant, Inc.
        dba Cafe Amore
    Bankr. S.D.N.Y. Case No. 11-13705
      Chapter 11 Petition filed August 3, 2011
         See http://bankrupt.com/misc/nysb11-13705.pdf

In Re Tim Smith Enterprises, LLC
    Bankr. M.D. N.C. Case No. 11-51205
      Chapter 11 Petition filed August 3, 2011
         See http://bankrupt.com/misc/ncmb11-51205.pdf

In Re Energy Concepts, Inc.
        dba ECI
        dba ECI Concepts
    Bankr. E.D. Pa. Case No. 11-16153
      Chapter 11 Petition filed August 3, 2011
         See http://bankrupt.com/misc/paeb11-16153.pdf

In Re John Richardson
   Bankr. M.D. Tenn. Case No. 11-07697
      Chapter 11 Petition filed August 3, 2011

In Re John M. Richardson, Jr., P.C.
    Bankr. M.D. Tenn. Case No. 11-07696
      Chapter 11 Petition filed August 3, 2011
         See http://bankrupt.com/misc/tnmb11-07696.pdf

In Re GGS Enterprises, Inc.
        dba Certified Electric Electrical Contractors
    Bankr. W.D. Texas Case No. 11-52724
      Chapter 11 Petition filed August 3, 2011
         See http://bankrupt.com/misc/txwb11-52724.pdf

In Re Beam, Inc.
    Bankr. S.D. W.Va. Case No. 11-30500
      Chapter 11 Petition filed August 3, 2011
         See http://bankrupt.com/misc/txeb11-30500.pdf

In Re Jin-Hyung Lee
   Bankr. W.D. Wash. Case No. 11-19231
      Chapter 11 Petition filed August 3, 2011

In re Michael D. Irwin
   Bankr. M.D. Ala. Case No. 11-81167
      Chapter 11 Petition filed August 4, 2011
         See http://bankrupt.com/misc/almb11-81167.pdf



                           *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers"
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors" Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Howard C. Tolentino, Joseph Medel C. Martirez, Denise
Marie Varquez, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R.
Villacampa, Sheryl Joy P. Olano, Carlo Fernandez, Christopher G.
Patalinghug, and Peter A. Chapman, Editors.

Copyright 2011.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
Beard at 240/629-3300.


                  *** End of Transmission ***