TCR_Public/110816.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

            Tuesday, August 16, 2011, Vol. 15, No. 226

                            Headlines

217 BEACH: Voluntary Chapter 11 Case Summary
3900 BISCAYNE: Has Interim OK to Access BB&T's Cash Collateral
7240 SHAWNEE MISSION: Case Summary & Creditors List
9CH LLC: Case Summary & Largest Unsecured Creditor
ABCLD HOLDINGS: Combined Plan Hearing Set for Sept. 19

ABCLD HOLDINGS: Sec. 341 Creditors' Meeting Set for Aug. 25
ACCENTIA BIOPHARMA: Incurs $3.7-Mil. Net Loss in June 30 Quarter
ALLEN CAPITAL: Allen, RSAI Has Until Oct. 21 to File Amended Plan
ALLY FINANCIAL: Files Form 10-Q, Posts $113MM Net Income in Q2
AMERICA'S SUPPLIERS: Incurs $220,000 Net Loss in Second Quarter

AMERICAN MEDIA: No Longer for Sale; Owners Dismiss Apollo Bid
AMR CORP: Takes Next Step in Eagle Spin-Off by Filing Form 10
AMR CORP: Quek Chan Discloses 7.3% Equity Stake
ANCHOR BANCORP: Three Directors Elected at Annual Meeting
ANDERSON NEWS: Balks at Creditors' $75-Mil. Claims vs. Insiders

APPLETON PAPERS: Incurs $3.3 Million Net Loss in July 3 Quarter
APPLIED DNA: Incurs $2.1 Million Net Loss in June 30 Quarter
ARCHBROOK LAGUNA: Court Approves PWC as Accounting Consultants
ARCHBROOK LAGUNA: Garden City Approved as Administrative Agent
ARCHBROOK LAGUNA: Court Adjusts Macquarie Advisory Fees

ATI ACQUISITION: Moody's Keeps 'Caa2' After Papers Revoked
AURA SYSTEMS: President Leaves to Pursue Other Interests
AURASOUND INC: Amends March 31 Form 10-Q After SEC's Comments
AVISTAR COMMUNICATIONS: Files Form 10-Q, Incurs $2.2-Mil. Q2 Loss
AXESSTEL INC: Incurs $687,000 Net Loss in Second Quarter

BAMACHEX INC: Files for Chapter 11 Bankruptcy Protection
BAMACHEX INC: Voluntary Chapter 11 Case Summary
BANK OF GRANITE: Incurs $3.4 Million Net Loss in Second Quarter
BIOJECT MEDICAL: Posts $274,000 Net Income in Second Quarter
BIOLASE TECHNOLOGY: Incurs $753,000 Net Loss in Second Quarter

BIOLASE TECHNOLOGY: Board OKs 2MM Shares Stock Repurchase Program
BIOLASE TECHNOLOGY: Fulfills $9-Mil. Henry Schein Purchase Order
BIOLIFE SOLUTIONS: Hikes Girschweiler & Villiger Loan Facilities
BMB MUNAI: To Delist from NYSE Amex After Emir Oil Sale
BRAND MANAGEMENT: Files List of Six Largest Unsecured Creditors

CAESARS ENTERTAINMENT: Incurs $153.1-Mil. 2nd Quarter Net Loss
CAPITOL BANCORP: Incurs $17.5 Million Net Loss in Second Quarter
CAPSTONE TURBINE: Posts $2.9 Million Net Loss in Q1 Ended June 30
CARGO TRANSPORTATION: Committee Taps Hill Ward as Counsel
CCB INVESTORS: Case Summary & 9 Largest Unsecured Creditors

CELL THERAPEUTICS: Settles Lash Litigation for $11 Million
CENTRAL FALLS, R.I.: Other Local Govts. Awaiting Pension Ruling
CENTRAL FALLS, R.I.: Receiver Wants Exit Plan in a Month
CENTRAL PACIFIC FINANCIAL: Reports $8.2MM Income in 2nd Quarter
CHELSEA 17: Case Summary & 5 Largest Unsecured Creditors

CINRAM INT'L: Credit Amendment Falls Short of Lasting Relief
CLAIRE'S STORES: To Report 7.3% Hike in Second Quarter Sales
CLEARWIRE CORP: Promotes Erik Prusch to President and CEO
COLONIAL BANCGROUP: Execs, Investors Settle Fraud Suit for $10.5MM
COMSTOCK MINING: Incurs $4.7-Mil. Second Quarter Net Loss

COMSTOCK MINING: Winfiled Group OKs Registration Filing Extension
CONTECH CONSTRUCTION: Bank Debt Trades at 23% Off
CORD BLOOD: Incurs $1 Million Net Loss in Second Quarter
CORDIA IP: Case Summary & 20 Largest Unsecured Creditors
COUGAR OIL: Posts C$1.5 Million Net Loss in 2nd Quarter

CROSS BORDER: Stark Quits as CFO; Ex-TXCO Stephenson Takes Over
CROWN EQUITY: Reports $1.5 Million Net Income in 2nd Quarter
CROWNROCK: Moody's Assigns Caa2 Rating to $150MM Notes Offering
CUI GLOBAL: Incurs $327,000 Net Loss in Second Quarter
CUMULUS MEDIA: Stephen Schwarzman Owns 9.2% of Class A Shares

CURSTIS NELSON: Creditors Oppose Plan, Debt Discharge
DAEWOO MOTOR: Ariz. Court Rules in Lawsuit v. Korean Parent
DAIS ANALYTIC: Reports $791,000 Net Income in Second Quarter
DELTA PETROLEUM: To Hold "Say on Pay Vote" Annually
DEX MEDIA WEST: Bank Debt Trades at 22% Off in Secondary Market

DIABETES AMERICA: Taps Woodrock & Co. as Investment Banker
DINEEQUITY INC: Bank Debt Trades at 4% Off in Secondary Market
DREIER LLP: Committee Seeks Invoice Payments from 3 More Clients
DULCES ARBOR: Court OKs Renterial for Maple Issues
E-DEBIT GLOBAL: Inks Pact to Roll Out Mobile Payment Platforms

EDGEWORTH PROPERTIES: Case Summary & 8 Largest Unsecured Creditors
ENTECH SOLAR: Posts $2.4 Million Net Loss in 2nd Quarter
EQUIPMENT MANAGEMENT: Electro Rent to Buy Assets for $11.1-Mil.
EVERGREEN SOLAR: Files for Chapter 11 to Sell Assets
FIREKEEPERS DEV'T: Moody's Affirms B2 Corporate; Outlook Positive

FORMATECH, INC.: Voluntary Chapter 11 Case Summary
FREEMAN PROPERTIES: Case Summary & Unsecured Creditor
FUSION TELECOMMUNICATIONS: Borrows $270,000 from Marvin Rosen
GALP CNA: Affiliate Wentwood Rollingbrook's Ch. 11 Case Dismissed
GAMETECH INT'L: Common Stock Stops Trading on Nasdaq

GENERAL MARITIME: F. Johnson stake Down to "Less Than 1%"
GENERAL MARITIME: OCM Marine Discloses 16.6% Equity Stake
GENTA INC: Has $11-Mil. Q2 Net Loss, May Run Out of Cash in Q3
GEORGE W. PARK: Court Closes Case; Orders Trustee Fees Be Paid
GIORDANO'S ENTERPRISES: Lender Seeks to Block Ex-Owner's Lawsuit

GLAZIER GROUP: Committee Has Nod for FTI as Financial Advisor
GLOBAL FOOD: Posts $899,200 Net Loss in Second Quarter
GOB WP: Case Summary & 5 Largest Unsecured Creditors
GRAPHIC PACKAGING: Bank Debt Trades at 3% Off in Secondary Market
GRAYMARK HEALTHCARE: Incurs $600,000 Net Loss in Second Quarter

GREEN BUILDERS: Case Summary & 20 Largest Unsecured Creditors
GREEN ENDEAVORS: Incurs $105,000 Net Loss in Second Quarter
GREEN PLANET: ACE Now Holds 5.6% of Outstanding Common Shares
GRUBB & ELLIS: Completes Sale of Daymark to IUC-SOV
GSI GROUP: Second Quarter Revenue Up 18% to $85.7 Million

HALIFAX REGIONAL: Moody's Affirms Bond Rating at 'Ba3'
HAMP HAVEN: Case Summary & 20 Largest Unsecured Creditors
HARRY & DAVID: Expects to Emerge From Bankruptcy in Coming Weeks
HAWAII MEDICAL: Dianne Okumura Approved as Patient Care Ombudsman
HAWKER BEECHCRAFT: Issues RSUs to Named Executive Officers

HCA HOLDINGS: Bank Debt Trades at 5% Off in Secondary Market
HOLDINGS GAMING: Hiked by Moody's to 'Caa2' on Improved Liquidity
HORNE INTERNATIONAL: Reports $739,000 Net Income in 2nd Quarter
HOSPITAL DAMAS: Settles PRHS Claim for $356,000
HRD CORPORATION: Web of Lawsuit Prompted Chapter 11 Filing

HUDSON HEALTHCARE: To Sell Hoboken Medical to Bayonne Owner
IA GLOBAL: Delays Form 10-K Due as Japanese Units Audit Pending
INDEPENDENCE TAX: Incurs $4.6-Mil. Net Loss in June 30 Quarter
INNOLOG HOLDINGS: Delays Filing of Quarterly Report on Form 10-Q
INTERNATIONAL TEXTILE: Incurs $13.8 Million Net Loss in Q2

INTERTAPE POLYMER: Reports $3.8-Mil. Net Earnings in 2nd Qtr.
ISTAR FINANCIAL: To Conduct Annual "Say on Pay Vote"
ISTAR FINANCIAL: Barry Ridings Elected to Board of Directors
J.A.R.A., INC.: Case Summary & 2 Largest Unsecured Creditors
JEFFERSON, AL: Pushes Toward Deal Over $3.2-Bil. Bond Debt

JOJO'S PARTNERS: Case Summary & 20 Largest Unsecured Creditors
JOSEPH GROUP: Case Summary & 20 Largest Unsecured Creditors
KENTS MUFFLER: Voluntary Chapter 11 Case Summary
KV PHARMACEUTICAL: Completes Sale of Divested Assets to Zydus
LIBERTY STATE: N.J. Attorney General Wants Case Dismissed

LIQUIDMETAL TECHNOLOGIES: Posts $2.9-Mil. Income in 2nd Quarter
LOCAL INSIGHT: Files Plan of Reorganization; Sees Q4 Exit
LOS ANGELES DODGERS: Committee Taps Pinckney Harris as Counsel
LOS ANGELES DODGERS: Wants Schedules Deadline Moved to Aug. 26
MAYSVILLE, INC.: Case Summary & 20 Largest Unsecured Creditors

MCCLATCHY CO: Bestinver Gestion Holds 4.90% of Class A Shares
MERCANTILE BANCORP: Lee Keith Appointed Interim President and CEO
MERRITT AND WALDING: Files List of 18 Largest Unsecured Creditors
MGI, LLC: Voluntary Chapter 11 Case Summary
MIAMI-DADE COUNTY: Moody's Reviews B3 Rtng for Possible Upgrade

MICHAELS STORES: Bank Debt Trades at 7% Off in Secondary Market
MIN PARK: Voluntary Chapter 11 Case Summary
MT. ZION: PNC Bank Objects to Second Amended Plan
MWM CARVER: Can Use Fannie Mae Cash Collateral Until Aug. 31
NANCE PROPERTIES: Case Summary & 20 Largest Unsecured Creditors

NCO GROUP: S. Leckerman to Quit; J. Jones Assumes EVP & COO Roles
NEBRASKA BOOK: Alan G. Siemek Resigns as CFO of NBC's Subsidiaries
NEBRASKA BOOK: Committee Taps Steven & Lee as Co-Counsel
NET TALK.COM: Buys $2.7MM Office Building from Core Development
NEUROLOGIX INC: Incurs Roughly $3-Mil. Net Loss in Second Quarter

NEW BERN RIVERFRONT: 3rd Party Suit v. McKim Survives Dismiss Bid
NEXSTAR BROADCASTING: Incurs $2.6-Mil. Net Loss in 2nd Quarter
O&G LEASING: First Security to Present Plan Disclosures Sept. 20
O&G LEASING: First Security Proposes SolstenXP-Led Sale Process
OCEAN PLACE: Taps CB Richard as Real Estate Appraiser

ONTEORA ASSOCIATES: Loses Bid to Recover Foreclosed Asset
OTTER TAIL: Chapter 11 Plan of Liquidation Confirmed
OXIGENE INC: Incurs $2.9 Million Net Loss in Second Quarter
PACESETTER FABRICS: Trustee Wants RHD to Waive Prepetition Claim
PACIFIC ENERGY: Miller Overvalued Alaskan Assets, Investor Says

PADULA MASONRY: Case Summary & 19 Largest Unsecured Creditors
PALM HARBOR: Disclosure Statement Hearing Set for Sept. 13
PARAMOUNT LIMITED: Has Until Aug. 26 to File Financial Statements
PECAN SQUARE: Hires The Law Office of Illyssa I. Fogel as Counsel
PETTERS COMPANY: Chapter 11 Trustee Taps Cooperstein and Haynes

PHARMOS CORP: Posts $500,400 Net Loss in 2nd Quarter
PHILADELPHIA ORCHESTRA: Taps Luken & Wolf as Real Estate Appraiser
PHYSICAL PROPERTY: Incurs HK$119,000 Net Loss in Second Quarter
PIEDMONT CENTER: Case Summary & 20 Largest Unsecured Creditors
POWER EFFICIENCY: John Lackland Resigns from All Positions

PROFESSIONAL VETERINARY: Seeks to Avoid Transfers to DVM
PUBLIC MEDIA: Hires Salzwedel for Investor Relations Services
QUANTUM CORP: FMR LLC Discloses 10.07% Equity Stake
QUEPASA CORP: Incurs $2.3 Million Net Loss in Second Quarter
RADIO ONE: Reports $101.2 Million Net Income in Second Quarter

REAL ESTATE: Sells Investment Properties to Orlean Company
REAL MEX RESTAURANTS: Delays Filing of Quarterly Report
REDDY ICE: Incurs $1.9 Million Net Loss in Second Quarter
REOSTAR ENERGY: Unsecureds to Get Pro Rata Share of 20% Over Time
RIO GRANDE: Voluntary Chapter 11 Case Summary

RIVER ROCK: Enters Into $9-Mil. Temporary Vehicle Access Easement
ROBB & STUCKY: Wants Settlement and Release Deal with Lender OK'd
ROBERTS LAND: Files List of Six Largest Unsecured Creditors
ROTECH HEALTHCARE: Incurs $1.9-Mil. Net Loss in Second Quarter
SANUWAVE HEALTH: Incurs $3.5 Million Net Loss in Second Quarter

SAWMILL GATEHOUSE: Case Summary & 11 Largest Unsecured Creditors
SCOTTO RESTAURANT: Involuntary Chapter 11 Case Summary
SEAWALK INVESTMENTS: Voluntary Chapter 11 Case Summary
SOUTHERN ELECTRIC: Case Summary & 20 Largest Unsecured Creditors
SUMMIT III: Case Summary & 17 Largest Unsecured Creditors

SUNDERLAGE RESOURCE: Case Summary & 20 Largest Unsecured Creditors
SUNNYVALE BUSINESS: Case Summary & 9 Largest Unsecured Creditors
TEXAS ROADRUNNER: Case Summary & 19 Largest Unsecured Creditors
TOWN & RANCH: Case Summary & 20 Largest Unsecured Creditors
VITAMINSPICE: Creditors Want Management Removed

WILSON FAMILY: Case Summary & 18 Largest Unsecured Creditors
WOLFGANG DAIRY: Case Summary & 11 Largest Unsecured Creditors

* Oaktree Capital Activates Distressed-Debt Fund

* Large Companies With Insolvent Balance Sheets


                            *********


217 BEACH: Voluntary Chapter 11 Case Summary
--------------------------------------------
Debtor: 217 Beach City Road, LLC
        13 Singleton Beach Place
        Hilton Head Island, SC 29928

Bankruptcy Case No.: 11-05014

Chapter 11 Petition Date: August 11, 2011

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

Judge: John E. Waites

Debtor's Counsel: Michael W. Mogil, Esq.
                  LAW OFFICE OF MICHAEL W. MOGIL, P.A.
                  2 Corpus Christie Place, Suite 303
                  Hilton Head Island, SC 29928
                  Tel: (843) 785-8110
                  Fax: (843) 785-9676
                  E-mail: mwmogil@aol.com

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

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

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

The petition was signed by Edward Flynn, managing member.


3900 BISCAYNE: Has Interim OK to Access BB&T's Cash Collateral
--------------------------------------------------------------
The Hon. A. Jay Cristol of the U.S. Bankruptcy Court for the
Southern District of Florida authorized, on an interim basis, 3900
Biscayne, LLC to use the cash collateral of Branch Banking and
Trust Company.

The Debtor is authorized to use rents from mortgage property to
pay the ordinary course of its business until Aug. 22, 2011,
provided that the Debtor timely tenders the required monthly
payments to BB&T.  Notwithstanding, however, the Debtor will not
make any payments for the line item titled "Phase II Tenant Build-
Out ($55,000 in total)" without prior notice and written approval
by or on behalf of BB&T.  Moreover, no payments will exceed the
line items on the budget by an amount exceeding 5% of each such
line item.

As adequate protection for any diminution in value of the
collateral, the Debtor will grant BB&T will receive replacement
liens against all of the Debtor's assets, to the same priority,
validity and extent that BB&T held prepetition.

As additional adequate protection, the Debtor will make monthly
payments to BB&T of interest only on the A Note principal of
$10,800,000 at the annual rate of 2.7%.

                       About 3900 Biscayne

3900 Biscayne, LLC, is a Florida limited liability company which
owns real property located at 3900 Biscayne, in Miami, currently
leased to Miami Arts, Inc., a tuition-free public charter school
offering college-preparatory academic curriculum and conservatory-
style training in the visual and performing arts.  The Company
filed a Chapter 11 petition (Bankr. S.D. Fla. Case No. 11-22948)
on May 12, 2011, in Miami, Florida.  Judge A. Jay Cristol presides
over the case.  James C. Moon, Esq., and Peter D. Russin, Esq., at
Meland Russin & Budwick, P.A., in Miami, represent the Debtor in
its Chapter 11 effort.  The Debtor disclosed $14,857,484 in total
assets and $13,691,533 in total liabilities as of the Chapter 11
filing.  To date, the U.S. Trustee has not appointed an official
committee of unsecured creditors in the Debtor's case.


7240 SHAWNEE MISSION: Case Summary & Creditors List
---------------------------------------------------
Debtor: 7240 Shawnee Mission Holding, LLC
        7240 Shawnee Mission Parkway
        Mission, KS 66202

Bankruptcy Case No.: 11-22475

Chapter 11 Petition Date: August 11, 2011

Court: U.S. Bankruptcy Court
       District of Kansas (Kansas City)

Judge: Dale L. Somers

Debtor's Counsel: Erlene W. Krigel, Esq.
                  KRIGEL & KRIGEL
                  4550 Belleview
                  Kansas City, MO 64111
                  E-mail: ekrigel@krigelandkrigel.com

Scheduled Assets: $2,900,000

Scheduled Debts: $5,014,092

The petition was signed by Shazia Memon, member.

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
7240 Shawnee Mission Hospitality LLC  11-22479            08/11/11
  Scheduled Assets: $137,760
  Scheduled Debts: $5,188,956

A list of 7240 Shawnee Mission Holding's Eight largest unsecured
creditors filed together with the petition is available for free
at http://bankrupt.com/misc/ksb11-22475.pdf

A list of 7240 Shawnee Mission Hospitality's 20 largest unsecured
creditors filed together with the petition is available for free
at http://bankrupt.com/misc/ksb11-22479.pdf

The petitions were signed by Shazia Memon, member.


9CH LLC: Case Summary & Largest Unsecured Creditor
--------------------------------------------------
Debtor: 9CH, LLC
        5506 Walsh Lane, Suite 206
        Rogers, AR 72758

Bankruptcy Case No.: 11-73713

Chapter 11 Petition Date: August 12, 2011

Court: United States Bankruptcy Court
       Western District of Arkansas (Fayetteville)

Judge: Ben T. Barry

Debtor's Counsel: Stanley V. Bond, Esq.
                  BOND LAW OFFICE
                  P.O. Box 1893
                  Fayetteville, AR 72701-1893
                  Tel: (479) 444-0255
                  Fax: (479) 444-7141
                  E-mail: attybond@me.com

Estimated Assets: $0 to $50,000

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

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

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Lowtide Holdings, LLC                            $1,500,000
157 E Colt Dr., Ste. 1
Fayetteville, AR 72703

The petition was signed by Bill Schwyhart, manager.


ABCLD HOLDINGS: Combined Plan Hearing Set for Sept. 19
------------------------------------------------------
The Bankruptcy Court in Dallas will hold a combined hearing on
Sept. 19, 2011, at 9:15 a.m. to consider approval of the
disclosure statement and solicitation and voting procedures and to
confirm the prepackaged Plan of Reorganization filed by ABCLD
Holdings, LLC.

Dallas, Texas-based ABCLD Holdings is a Nevada limited liability
company created on March 18, 2011, to acquire certain properties
of FRE Real Estate Inc.  All of the capital stock of ABCLD
Holdings is owned by ABC Land & Development, Inc., which is a
corporation owned by Ronald Akin and DTS Holdings, LLC.

ABCLD purchased various properties located in Texas from FRE on
March 23, 2011, for $59,800,000: (i) the Kinwest Parkway Tract --
approximately 27.97 acres of land located in the Las Colinas area
of Irving, Dallas County; (ii) the Beltline Tract -- approximately
109.85 acres of land located in the Las Colinas area of Irving,
Dallas County; (iii) the Mercer Crossing Tract -- approximately
235 acres of land located in the Mercer Crossing area of Irving,
Dallas County; (iv) Valwood Tract -- approximately 19.43 acres of
land located in the Farmers Branch area of Irving, Dallas County;
(v) Pioneer Crossing Tract -- approximately 97.276 acres of land
located in the Pioneer Crossing Subdivision of Austin, Travis
County, Texas; and (vi) McKinney/Brauss Tract -- approximately
20.8445 acres of land located in McKinney, Collin County, Texas.

The purchase amount was paid through: (i) the Debtor's assumption
of the outstanding loans owed to Armed Forces Bank N.A. with
respect to the Properties in the amount of $57,615,229; (ii) the
Debtor's assumption of 100% of the aggregate trade debts; and
(iii) the Debtor's assumption of and the assignment to the Debtor
in the stead of FRE of certain notes owed to various insiders in
the aggregate amount of $2,184,771, which notes arose from FRE's
original acquisition of the Properties.

Prior to the ABCLD deal, those properties, in addition to several
other unrelated properties, had been first acquired by FRE from
various affiliated entities on Dec. 23, 2010.  FRE acquired the
properties, all of which were distressed, in order to file one
collective bankruptcy case, which FRE filed Jan. 4, 2011.  In
filing a consolidated bankruptcy case, upon information and
belief, FRE believed that doing so would allow FRE to utilize the
equity in and cash flow of the various properties, maximize value
for all creditors, and provide for an efficient and streamlined
bankruptcy process and allow FRE to utilize all of the properties
purchased to effectively reorganize.  However, FRE's secured
creditors, and ultimately the Court, disagreed, and an order
dismissing FRE's bankruptcy case was signed on March 1, 2011.

Armed Forces Bank, as successor by merger to Bank Midwest, N.A. is
the secured creditor with respect to the Properties, and AFB
played an active role in obtaining the dismissal of the FRE
bankruptcy proceeding.

When ABCLD acquired the Properties from FRE, the various loans
owed to AFB remained in default and the parties engaged in
settlement discussions.  On June 6, 2011, ABCLD, AFB, and a myriad
of ABCLD's affiliates and other related entities executed a
written settlement regarding the Properties and the AFB Loans and
certain other properties owned by various of the other affiliates
and the loans with respect to those properties also owed to AFB.

The Agreement generally contemplates, inter alia, a foreclosure of
various properties, including the Beltline Tract, the Kinwest
Parkway Tract, the McKinney/Brauss Tract, and the Pioneer Crossing
Tract, the preparation and filing of the Debtor's prepackaged
bankruptcy case, and, upon confirmation of the Plan, a
restructuring of the AFB debt.

The day after the Agreement was executed, the "First Closing"
occurred whereby AFB conducted foreclosure sales of the Beltline
Tract, the Kinwest Parkway Tract, the McKinney/Brauss Tract, and
the Pioneer Crossing Tract.

The prepackaged Plan and the accompanying disclosure statement
were provided to ABCLD's creditors during the solicitation process
and were filed with the Court on the Petition Date.  The Debtor
commenced a solicitation of votes from creditors on July 1, 2011.

If implemented, the Plan would generally restructure the Debtor's
debt owed to Armed Forces Bank, which totals $40,000,000, and
allow the Debtor to pay its secured ad valorem tax creditors over
time.  The Debtor does not have any other creditors, other than
one affiliate who is owed $260,131 based upon the Debtor's and
FRE's original purchase of the Properties.

The Plan classifies claims against and interests in ABCLD in six
classes.  Non-Class 1 Allowed Admin and Certain Priority Claims
were not entitled to vote on the Plan.  There were no claims under
Class 2 Certain Allowed Priority Claims and Class 3 Allowed
Secured Tax Claims.  The $40,000,000 Allowed Secured Claim of AFB
in Class 4, the $260,131 Allowed Subordinated Claims of affiliate
American Realty Trust Inc. in Class 5; and Class 6 Interests all
voted to accept the Plan.

No additional solicitation of votes on the Plan is contemplated by
the Debtor.

ABCLD Holdings, LLC, filed for Chapter 11 bankruptcy (Bankr. N.D.
Tex. Case No. 11-34969) on Aug. 1, 2011.  Judge Barbara J. Houser
presides over the case.  Melissa S. Hayward, Esq., at Franklin
Skierski Lovall Hayward LLP, serves as bankruptcy counsel to the
Debtor.  In its petition, the Debtor estimated assets of $50
million to $100 million and debts of $10 million to $50 million.
The petition was signed by Craig Landess, vice president.

Lender Armed Forces Bank, N.A., is represented by:

          Keith Miles Aurzada, Esq.
          BRYAN CAVE LLP
          2200 Ross Avenue, Suite 3300
          Dallas, Texas 75201
          Tel: 214-721-8041
          Fax: 214-220-6741
          E-mail: keith.aurzada@bryancave.com


ABCLD HOLDINGS: Sec. 341 Creditors' Meeting Set for Aug. 25
-----------------------------------------------------------
The U.S. Trustee for the Northern District of Texas will convene a
Meeting of creditors pursuant to 11 U.S.C. Sec. 341(a) in the
bankruptcy case of ABCLD Holdings LLC on Aug. 25, 2011, at 10:15
a.m. at Dallas, Room 976.  Proofs of Claim are due by Nov. 23,
2011.

Dallas, Texas-based ABCLD Holdings is a Nevada limited liability
company created on March 18, 2011, to acquire properties owned by
FRE Real Estate Inc. in Texas for $59,800,000.  All of the capital
stock of ABCLD Holdings is owned by ABC Land & Development, Inc.,
which is a corporation owned by Ronald Akin and DTS Holdings, LLC.

FRE filed for bankruptcy Jan. 4, 2011.  The case was dismissed
March 1, 2011.

ABCLD filed for bankruptcy to implement a prepetition settlement
agreement with Armed Forces Bank, as successor by merger to Bank
Midwest, N.A. is the secured creditor with respect to the acquired
FRE Properties.  AFB played an active role in obtaining dismissal
of the FRE bankruptcy proceeding.  The Agreement contemplates the
foreclosure of certain of the properties, a prepackaged bankruptcy
filing, and the restructuring of the AFB debt.

ABCLD commenced the prepackaged Chapter 11 bankruptcy (Bankr. N.D.
Tex. Case No. 11-34969) on Aug. 1, 2011.  Judge Barbara J. Houser
presides over the case.  Melissa S. Hayward, Esq., at Franklin
Skierski Lovall Hayward LLP, serves as bankruptcy counsel to the
Debtor.  In its petition, the Debtor estimated assets of $50
million to $100 million and debts of $10 million to $50 million.
The petition was signed by Craig Landess, vice president.  Armed
Forces Bank is represented by Keith Miles Aurzada, Esq., at Bryan
Cave LLP.

The Bankruptcy Court will hold a combined hearing on Sept. 19,
2011, at 9:15 a.m. to consider approval of the disclosure
statement and solicitation and voting procedures and to confirm
the prepackaged Plan.


ACCENTIA BIOPHARMA: Incurs $3.7-Mil. Net Loss in June 30 Quarter
----------------------------------------------------------------
Accentia BioPharmaceuticals Inc. filed its quarterly report on
Form 10-Q, reporting a net loss of $3.7 million on $2.1 million of
revenues for the three months ended June 30, 2011, compared with
net income of $11.5 million on $2.5 million of revenues for the
three months ended June 30, 2010.

The Company reported a net loss of $12.2 million on $6.4 million
of revenues for the nine months ended June 30, 2011, compared with
a net loss of on $8.3 million on $37.9 million of revenues for the
nine months ended June 30, 2010.

Derivative gain was $816,212 for the three months ended June 30,
2011, as compared to $14.1 million for the three months ended
June 30, 2010.

The Company's balance sheet at June 30, 2011, showed $6.8 million
in total assets, $92.8 million in total liabilities, and a
stockholders' deficit of $86.0 million.

As reported in the TCR on Feb. 15, 2011, the Company's independent
registered public accounting firm's report included a "going
concern" uncertainty on the financial statements for the year
ended Sept. 30, 2010, citing significant losses and working
capital deficits at that date.

A copy of the Form 10-Q is available at http://is.gd/bXA6vI

              About Accentia BioPharmaceuticals

Headquartered in Tampa, Florida, Accentia BioPharmaceuticals Inc.
(OTC QB: ABPI) -- http://www.accentia.net/-- is committed to
advancing the autoimmune disease therapy, Revimmune(TM), as a
comprehensive system of care and drug regimen designed for the
treatment of autoimmune diseases.  Revimmune therapy includes an
ultra-high-dose regimen of Cytoxan(R) (cyclophosphamide),
exclusively supplied via a strategic agreement with Baxter
Healthcare Corporation.  Clinical trials for Revimmune are being
planned for the treatment of multiple autoimmune indications.

Accentia holds a majority-ownership stake in Biovest
International, Inc. (OTC QB: "BVTI"), an emerging leader in the
field of active personalized immunotherapies.  In collaboration
with the National Cancer Institute, Biovest has developed a
patient-specific, cancer vaccine, BiovaxID(R), with three clinical
trials completed, including a Phase III study for the treatment of
follicular non-Hodgkin's lymphoma.

Additionally, Accentia's wholly-owned subsidiary, Analytica
International, based in New York City, is a global research and
strategy consulting firm that provides professional services to
the pharmaceutical and biotechnology industries.  Since 1997,
Analytica has expertly directed research studies and projects,
including traditional health economic modeling projects, database
studies, structured reviews, heath technology assessments,
reimbursement analyses, and value dossiers.

On Nov. 10, 2008, Accentia BioPharmaceuticals, along with its
subsidiaries filed for Chapter 11 protection (Bankr. M.D. Fla.
Lead Case No. 08-17795).  The Company emerged from Chapter 11
protection, and the Plan of Reorganization became effective, on
Nov. 17, 2010.


ALLEN CAPITAL: Allen, RSAI Has Until Oct. 21 to File Amended Plan
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
extended until Oct. 21, 2011, the deadline for Allen Capital
Partners, LLC, and Richard S. Allen, Inc., to file an amended plan
and explanatory disclosure statement.

The hearing to determine the adequacy of Richard S. Allen and
RSAI's disclosure statement, as amended, is set for Nov. 17, at
1:30 p.m.

The exclusivity period for Allen and RSAI is extended until the
date of the disclosure statement hearing, at which time the
confirmation hearing will be set and the Court will consider a
further extension of the Debtors' exclusivity.

The Debtors have said the extension will assure that Allen and
RSAI have the benefit of knowing the final outcome of the DLH and
ACP Plan before proceeding with amending and pursuing approval and
confirmation of their Disclosure Statement and Plan.

                     About Allen Capital

Allen Capital Partners LLC and subsidiary DLH Master Land Holding
LLC, are the developers of Dallas Logistics Hub, a 6,000-acre
multimodal logistics park 12 miles (19 kilometers) from downtown
Dallas.

Allen Capital Partners, LLC, dba The Allen Group, filed for
Chapter 11 bankruptcy protection (Bankr. N.D. Tex. Case No. 10-
30562) on Jan. 25, 2010.  Mark MacDonald, Esq., at MacDonald +
MacDonald, P.C., represents the Debtor.  Lain, Faulkner & Co. is
the Debtor's financial advisor.  The Company disclosed
$220,325,201 in assets and $160,622,236 in liabilities as of the
Chapter 11 filing.

The Debtor's affiliate -- DLH Master Land Holding, LLC, dba The
Allen Group -- filed a separate Chapter 11 bankruptcy petition.

Another affiliate, Visalia, California-based Richard S. Allen,
Inc., filed for Chapter 11 bankruptcy protection (Bankr. N.D.
Texas Case No. 10-33211) on May 3, 2010.  Patrick J. Neligan, Jr.,
Esq., at Neligan Foley LLP, represents the Debtor.  The Company
disclosed $76,158,469 in assets and $53,728,982 in liabilities as
of the petition date.


ALLY FINANCIAL: Files Form 10-Q, Posts $113MM Net Income in Q2
--------------------------------------------------------------
Ally Financial Inc. filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, reporting net income
of $113 million on $1.82 billion of total net revenue for the
three months ended June 30, 2011, compared with net income of
$565 million on $2.09 billion of total net revenue for the same
period during the prior year.

The Company also reported net income of $259 million on
$3.43 billion of total net revenue for the six months ended June
30, 2011, compared with net income of $727 million on
$3.94 billion of total net revenue for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed
$178.88 billion in total assets, $158.46 billion in total
liabilities, and $20.42 billion in total equity.

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

                         http://is.gd/1LZuZO

                        About Ally Financial

Ally Financial Inc., formerly GMAC Inc., -- http://www.ally.com/
-- is one of the world's largest automotive financial services
companies.  The company offers a full suite of automotive
financing products and services in key markets around the world.
Ally's other business units include mortgage operations and
commercial finance, and the company's subsidiary, Ally Bank,
offers online retail banking products.  Ally operates as a bank
holding company.

GMAC obtained a $17 billion bailout from the U.S. government in
exchange for a 56.3% stake.  Private equity firm Cerberus Capital
Management LP keeps 14.9%, while General Motors Co. owns 6.7%.

The Company has tapped Goldman Sachs Group Inc. and Citigroup Inc.
to advise on a range of issues, including strategic alternatives
for the mortgage business and repayment of taxpayer funds.

                         *     *     *

In January 2011, Standard & Poor's Ratings Services raised its
rating on the preferred stock of Ally Financial Inc. (Ally;
B/Stable/C) to 'CC' from 'C'.  The ratings firm noted that Ally
improved its liquidity position and alleviated some funding
pressure at its holding Company in recent months, making it easier
to meet obligations on its preferred stock.  Nevertheless, the
Company faces significant debt maturities at its holding Company
in 2011 and 2012, which is reflected in the 'CC' rating.

As reported by the TCR on May 6, 2011, Standard & Poor's Ratings
Services raised its long-term counterparty credit ratings on both
Ally Financial Inc. (formerly GMAC Inc.) and subsidiary
Residential Capital LLC (ResCap) to 'B+' from 'B'.  The outlook on
both ratings is stable.  "Ally, an automobile- and mortgage-
finance and servicing company, and ResCap, its mortgage
subsidiary, improved their capital, credit quality, earnings, and
liquidity in recent months," said Standard & Poor's credit analyst
Brendan Browne.  They also settled a material portion of their
mortgage repurchase risk and have been profitable.

In February 2011, Moody's Investors Service upgraded the issuer
and senior unsecured ratings of Ally Financial Inc. and its
supported subsidiaries to B1 from B3.  Concurrently, Moody's
upgraded the senior secured (second lien) and senior unsecured
ratings of mortgage finance subsidiary Residential Capital LLC to
Caa3 and Ca, respectively, from C.  The rating outlook for both
Ally and ResCap is stable.

Moody's said the Ally and ResCap upgrades reflect a decline in
ResCap's exposure to portfolio under-performance and mortgage
repurchase risks and an associated decrease in contingent risks to
Ally relating to its support of ResCap.  Additional factors
supporting Ally's upgrade include its strengthened liquidity and
capital positions and prospects for continued profitability in its
core auto finance and mortgage businesses based upon positive
asset quality performance trends.


AMERICA'S SUPPLIERS: Incurs $220,000 Net Loss in Second Quarter
---------------------------------------------------------------
America's Suppliers, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $220,752 on $4.12 million of net revenues for the
three months ended June 30, 2011, compared with net income of
$9,127 on $3.55 million of net revenues for the same period a year
ago.

The Company also reported a net loss of $347,538 on $7.42 million
of net revenues for the six months ended June 30, 2011, compared
with net income of $27,589 on $6.75 million of net revenues for
the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $1.41 million
in total assets, $1.80 million in total liabilities, all current,
and a $386,865 total shareholders' deficit.

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

                       http://is.gd/TAkeAq

                    About America's Suppliers

Scottsdale, Ariz.-based America's Suppliers, Inc., develops
software programs that allow the Company to provide general
merchandise for resale to businesses through its Web site at
http://www.DollarDays.com

The Company has a recent history of operating losses and operating
cash outflows.  "These factors raise substantial doubt about our
ability to continue as a going concern," the Company said in the
filing.

As reported in the Troubled Company Reporter on March 26, 2010,
MaloneBailey, LLP, in Houston, expressed substantial doubt about
the Company's ability to continue as a going concern following the
Company's 2009 results.  The independent auditors noted that
Company has suffered an accumulated deficit of $6,949,006 as of
Dec. 31, 2009.  MaloneBailey's opinion on the Company's 2010
financial statements did not include a going concern
qualification.


AMERICAN MEDIA: No Longer for Sale; Owners Dismiss Apollo Bid
-------------------------------------------------------------
Mike Spector and Russell Adams, writing for The Wall Street
Journal, report that people familiar with the matter said American
Media Inc., is no longer up for sale, after the media company's
owners balked at an offer from Apollo Global Management.  The
sources said American Media had informally explored a sale earlier
this year.  Some of the sources told the Journal American Media
never launched a formal auction for itself.  Still, earlier this
year it entertained an offer from Apollo.

According to the Journal, representatives for American Media and
Apollo declined comment.  The New York Post reported Apollo's
interest in American Media in June.  The Journal says people close
to the matter value American Media at between $500 million and
$720 million.

The Journal relates interest in American Media comes as other
media companies that recently emerged from bankruptcy proceedings
explore sales.  The Journal reported in July that Reader's Digest
Association Inc. recently put itself up for sale, seeking more
than $1 billion.  Freedom Communications Inc., which publishes the
Orange County Register, has been on the auction block for the
better part of this year and has held discussions with Denver Post
publisher MediaNews Group Inc. about a possible tie-up.

                       About American Media

Based in New York, American Media, Inc., publishes celebrity
journalism and health and fitness magazines in the U.S.  These
include Star, Shape, Men's Fitness, Fit Pregnancy, Natural Health,
and The National Enquirer.  In addition to print properties, AMI
manages 14 different Web sites.  The company also owns
Distribution Services, Inc., the country's #1 in-store magazine
merchandising company.

American Media, Inc., and 15 units, including American Media
Operations, Inc., filed for Chapter 11 protection in Manhattan
(Bankr. S.D.N.Y. Case No. 10-16140) on Nov. 17, 2010.  Judge
Martin Glenn presided over the case.  Ira S. Dizengoff, Esq., Arik
Preis, Esq., Meredith A. Lahaie, Esq., Stefanie L. Kurlanzik,
Esq., and Kevin M. Eide, Esq., at Akin, Gump, Strauss, Hauer &
Feld, LLP, in New York, served as the Debtors' bankruptcy counsel.
Moelis & Company was the Debtors' financial advisors and
investment bankers.  Kurtzman Carson Consultants LLC was the
claims and notice agent.

AMI estimated assets of $0 to $50,000 and debts of $500 million to
$1 billion in its Chapter 11 petition.  AMO, AMI's operating unit,
estimated assets of $100 million to $500 million and debts of
$500 million to $1 billion in its Chapter 11 petition.

American Media filed a pre-packaged Chapter 11 plan where holders
of notes and bank debt would receive either cash, new notes or
stock.  Judge Glenn confirmed the Debtors' Amended Joint
Prepackaged Plan of Reorganization on Dec. 20, 2010.  The Debtors
emerged from Chapter 11 reorganization two days later, handing
ownership to former bondholders.  The new owners include hedge
funds Avenue Capital Group and Angelo Gordon & Co.


AMR CORP: Takes Next Step in Eagle Spin-Off by Filing Form 10
-------------------------------------------------------------
AMR Corporation announced that its subsidiary, AMR Eagle Holding
Corporation, has filed a Form 10 Registration Statement with the
U.S. Securities and Exchange Commission.  The Form 10 filing marks
the next step in a potential spin-off of Eagle and describes the
potential spin-off, provides an overview of Eagle's business,
management and its ongoing relationship with American Airlines,
and provides historical and pro forma consolidated financial
statements of Eagle.  In the spin-off, AMR Corporation would
distribute to its stockholders 100 percent of the outstanding
shares of Eagle on a pro rata basis, and AMR Corporation would not
retain any ownership interest in Eagle.

On a pro forma basis, in 2010, Eagle generated $1.2 billion in
revenue with more than $250 million from ground handling services.
Eagle would operate the third largest regional airline in the
United States as it provides the vast majority of American's
regional flight operations.  Under a nine-year air services
agreement with American, Eagle would initially operate 281
aircraft on behalf of American.  American could withdraw from
Eagle and re-bid up to 12 turbo prop aircraft per year beginning
in 2012 and a specified number of jet aircraft up to 40 per year
beginning in 2014.  The agreement would also include a provision
to re-set rates to reflect any change in market levels for
regional feed after four years.

Eagle would also operate one of the largest ground handling
operations in the U.S., serving American Airlines and other
passenger airlines at more than 100 airports in the U.S., the
Bahamas, the Caribbean and Canada.  Under a ground handling
agreement, Eagle would provide ground handling services to
American at 106 airport locations.  The agreement would have an
eight-year term, but provide American the right to re-bid ground
handling services at a specified number of airports each year.

Strategic Rationale

AMR and Eagle believe a spin-off of Eagle as a separate, publicly-
traded company would offer a number of benefits that would enable:

   * American to diversify the source of its regional feed over
     time

   * Eagle to grow its business by better competing to offer
     regional flight services to other mainline carriers

   * Market forces to ensure American has continued access to the
     most competitive regional flight and ground handling rates
     and service

   * Each company to allocate resources and deploy capital in a
     manner consistent with its strategic priorities in order to
     optimize total returns to shareholders

   * Investors to value the two companies based on their
     particular operational and financial characteristics

"The filing of Eagle's Form 10 is an important milestone in a
potential spin-off that we expect would provide significant
benefits for both companies and maximize value for our
shareholders," said AMR Chairman and CEO Gerard Arpey.  "The spin-
off would enable American over time to diversify its regional feed
and to continue to procure the most competitive rates and service,
while also enabling Eagle to more effectively compete for new
business.  We look forward to taking the next steps toward
completing this process."

"We're excited to take this important step toward becoming an
independent airline," said Eagle President and CEO Dan Garton.
"Eagle has more than 25 years of experience providing regional air
service to American Airlines and we look forward to continuing
that relationship for many years to come.  Likewise, we are eager
to compete for new business and new customers, offering growth
opportunities for Eagle and our employees."

While all aircraft will remain on Eagle's operating certificates,
prior to any divestiture, the Company expects to transfer to
American all of its jet aircraft and the associated indebtedness,
on which AMR is already a guarantor.  Ownership of the jet
aircraft would provide American control over the regional aircraft
that are pivotal to its network and would protect AMR's position
as guarantor of the debt.

Next Steps

The spin-off of Eagle would be subject to certain conditions,
including U.S. Securities and Exchange Commission clearance,
receipt of regulatory approvals, an opinion from tax counsel and a
favorable ruling from the Internal Revenue Service regarding the
tax-free status of the spin-off to AMR shareholders, execution of
inter-company agreements and approval by AMR's board of directors.
Stockholder approval of the spin-off is not required.

While AMR Corporation has taken this step toward a spin-off of
Eagle, it could decide to retain Eagle, or the divestiture of
Eagle could take another form, such as a sale.

Citi and Evercore Partners are acting as financial advisors to AMR
Corporation.

                       About AMR Corporation

Headquartered in Fort Worth, Texas, AMR Corporation (NYSE:
AMR) operates with its principal subsidiary, American Airlines
Inc. -- http://www.aa.com/-- a worldwide scheduled passenger
airline.  As of Dec. 31, 2009, American provided scheduled jet
service to approximately 160 destinations throughout North
America, the Caribbean, Latin America, Europe and Asia.

Its wholly owned subsidiary, AMR Eagle Holding Corp., owns two
regional airlines, American Eagle Airlines Inc. and Executive
Airlines Inc., and does business as "American Eagle."  American
Beacon Advisors Inc., a wholly owned subsidiary of AMR, is
responsible for the investment and oversight of assets of AMR's
U.S. employee benefit plans, as well as AMR's short-term
investments.

AMR recorded a net loss of $471 million in the year 2010, a net
loss of $1.5 billion in 2009, and a net loss of $2.1 billion in
2008.  The Company also reported a net loss of $722 million for
the six months ended June 30, 2011.

The Company's balance sheet at June 30, 2011, showed
$25.78 billion in total assets, $30.29 billion in total
liabilities, and a $4.51 billion stockholders' deficit.

                           *     *     *

AMR carries a 'CCC' issuer default rating from Fitch Ratings,
'Caa1' corporate family and probability of default ratings from
Moody's, and a 'B-' corporate credit rating from Standard &
Poor's.

In November 2010, Standard & Poor's Ratings Services revised its
outlook on AMR Corp. and its major operating subsidiary, American
Airlines Inc., to stable from negative, based on AMR's improved
operating performance, which has bolstered credit quality.  S&P
also affirmed its 'B-' corporate credit rating and most issue
ratings on the two companies and lowered selected ratings on
American's enhanced equipment trust certificates.


AMR CORP: Quek Chan Discloses 7.3% Equity Stake
-----------------------------------------------
In a Schedule 13G filing with the U.S. Securities and Exchange
Commission, Quek Leng Chan and his affiliates disclosed that they
beneficially own 24,393,117 shares of common stock of AMR
Corporation representing 7.3% of the shares outstanding assuming
a total of 335,207,300 shares outstanding, based on the amounts
sourced from Bloomberg as at Aug. 1, 2011.  A full-text copy of
the regulatory filing is available for free at http://is.gd/INv8TU

                       About AMR Corporation

Headquartered in Fort Worth, Texas, AMR Corporation (NYSE:
AMR) operates with its principal subsidiary, American Airlines
Inc. -- http://www.aa.com/-- a worldwide scheduled passenger
airline.  As of Dec. 31, 2009, American provided scheduled jet
service to approximately 160 destinations throughout North
America, the Caribbean, Latin America, Europe and Asia.

Its wholly owned subsidiary, AMR Eagle Holding Corp., owns two
regional airlines, American Eagle Airlines Inc. and Executive
Airlines Inc., and does business as "American Eagle."  American
Beacon Advisors Inc., a wholly owned subsidiary of AMR, is
responsible for the investment and oversight of assets of AMR's
U.S. employee benefit plans, as well as AMR's short-term
investments.

AMR recorded a net loss of $471 million in the year 2010, a net
loss of $1.5 billion in 2009, and a net loss of $2.1 billion in
2008.  The Company also reported a net loss of $722 million for
the six months ended June 30, 2011.

The Company's balance sheet at June 30, 2011, showed
$25.78 billion in total assets, $30.29 billion in total
liabilities, and a $4.51 billion stockholders' deficit.

                           *     *     *

AMR carries a 'CCC' issuer default rating from Fitch Ratings,
'Caa1' corporate family and probability of default ratings from
Moody's, and a 'B-' corporate credit rating from Standard &
Poor's.

In November 2010, Standard & Poor's Ratings Services revised its
outlook on AMR Corp. and its major operating subsidiary, American
Airlines Inc., to stable from negative, based on AMR's improved
operating performance, which has bolstered credit quality.  S&P
also affirmed its 'B-' corporate credit rating and most issue
ratings on the two companies and lowered selected ratings on
American's enhanced equipment trust certificates.


ANCHOR BANCORP: Three Directors Elected at Annual Meeting
---------------------------------------------------------
Anchor BanCorp Wisconsin Inc. held its 2011 annual meeting of
shareholders on Aug. 4, 2011.  At this meeting, the shareholders
of the Company elected three directors, each for a three-year
term, namely: (1) Richard A. Bergstrom, (2) Donald D. Parker and
(3) James D. Smessaert.

The shareholders approved an advisory (non-binding) proposal to
approve the compensation for the Company's executive officers,
pursuant to the American Recovery and Reinvestment Act of 2009, as
disclosed pursuant to the compensation disclosure rules of the
U.S. Securities and Exchange Commission.  The ARRA, requires
recipients of TARP CPP funds, such as the Company, to conduct
annually a separate non-binding shareholder vote to approve the
compensation of executive officers.  Accordingly, there was no
vote solicited on the frequency of the vote for approval of
compensation, since it must occur annually.

Moreover, the shareholders ratified the appointment of McGladrey &
Pullen LLP as the Company's independent registered public
accounting firm for the fiscal year ending March 31, 2012.

                       About Anchor Bancorp

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

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

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

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


ANDERSON NEWS: Balks at Creditors' $75-Mil. Claims vs. Insiders
---------------------------------------------------------------
Samuel Howard at Bankruptcy Law360 reports that Anderson News LLC
on Wednesday criticized creditors' attempt to pursue roughly
$75 million in claims against company insiders in Delaware
bankruptcy court, saying they are only trying to harass the estate
over a related antitrust case.

Law360 relates that the magazine creditors are not entitled to
step in and assert fraudulent transfer and fiduciary-based claims
on behalf of the company, and are merely clamoring for standing
because the estate recently appealed the toss of an antitrust
action against the creditors, according to Anderson.

Anderson News LLC is a sales and marketing company for books and
magazines.  In March 2009, Anderson News LLC's creditors filed
petitions for the Company's bankruptcy in the U.S. Bankruptcy
Court for the District of Delaware.  The publishing companies
claimed that Anderson News owes them a combined $37.5 million.


APPLETON PAPERS: Incurs $3.3 Million Net Loss in July 3 Quarter
---------------------------------------------------------------
Paperweight Development Corp. filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $3.28 million on $216.58 million of net sales for the
three months ended July 3, 2011, compared with a net loss of
$14.97 million on $220.78 million of net sales for the three
months ended July 4, 2010.

The Company also reported a net loss of $8.47 million on
$434.60 million of net sales for the six months ended July 3,
2011, compared with a net loss of $22.42 million on
$430.79 million of net sales for the six months ended July 4,
2010.

The Company's balance sheet at July 3, 2010, showed
$633.02 million in total assets, $782.05 million in total
liabilities, $102.52 million in redeemable common stock,
a $159.39 million in accumulated deficit, and a $92.16 million
accumulated other comprehensive loss.

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

                       http://is.gd/yTVR3b

                       About Appleton Papers

Appleton Papers Inc. is a 100%-owned subsidiary of Paperweight
Development Corp.  Appleton Papers Inc. --
http://www.appletonideas.com/-- headquartered in Appleton,
Wisconsin, produces carbonless, thermal, security and performance
packaging products.  Appleton has manufacturing operations in
Wisconsin, Ohio, Pennsylvania, and Massachusetts, employs
approximately 2,200 people and is 100% employee-owned.

Appleton Papers carries a 'B' corporate credit rating from
Standard & Poor's.


APPLIED DNA: Incurs $2.1 Million Net Loss in June 30 Quarter
------------------------------------------------------------
Applied DNA Sciences, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $2.15 million on $229,710 of revenue for the three
months ended June 30, 2011, compared with a net loss of
$2.59 million on $170,195 of revenue for the same period a year
ago.

The Company also reported a net loss of $6.09 million on $687,970
of revenue for the nine months ended June 30, 2011, compared with
a net loss of $5.79 million on $430,185 of revenue for the same
period a year ago.

The Company's balance sheet at June 30, 2011, showed $893,586 in
total assets, $4.86 million in total liabilities, all current, and
a $3.97 million total deficiency in stockholders' equity.

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

                        http://is.gd/M5TAsb

                         About Applied DNA

Stony Brook, N.Y.-based Applied DNA Sciences, Inc., is principally
devoted to developing DNA embedded biotechnology security
solutions in the United States.

As reported in the Troubled Company Reporter on Dec. 21, 2010,
RBSM LLP, in New York, expressed substantial doubt about Applied
DNA Sciences' ability to continue as a going concern, after
auditing the Company's financial statements for fiscal year ended
Sept. 30, 2010.  The independent auditors noted that the Company
has suffered recurring losses and does not have significant cash
or other material assets, nor does it have an established source
of revenues sufficient to cover its operations.

The Company reported a net loss of $7.91 million on $519,844 of
sales for fiscal 2010, compared with net income of $3.94 million
on $295,162 of sales for fiscal 2009.


ARCHBROOK LAGUNA: Court Approves PWC as Accounting Consultants
--------------------------------------------------------------
The Hon. Shelley C. Chapman of the U.S. Bankruptcy Court for the
Southern District of New York authorized Archbrook Laguna Holdings
Llc, et al., to employ PriceWaterhouseCoopers LLP as their
accounting consultants.

As reported in the Troubled Company Reporter on July 28, 2011,
pursuant to the terms of the Engagement Letter, since June 8,
2011, PwC has been providing consulting and accounting services in
connection with the review and evaluation of the Debtors'
accounting and credit practices.  PwC will continue to provide
those services during the pendency of the Chapter 11 cases.

The Debtors will pay PwC for services rendered in their bankruptcy
cases according to these hourly rates:

           Partners               $600
           Directors              $530
           Managers               $450
           Senior Associates      $365
           Associates             $290

The Debtors will also reimburse PwC for any direct expenses
incurred in connection with its retention in these cases and the
performance of the services set forth in the Engagement Letter.

Robert Gallagher, a partner at PwC, attests that PwC is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

                     About ArchBrook Laguna

ArchBrook is a procurement and distribution intermediary between
production companies and end retailers.  It distributes consumer
electronics, computers and appliances to principal customers that
include Wal-Mart Stores Inc., Best Buy Co. and Costco Wholesale
Corp.

ArchBrook disclosed assets of $246.2 million against debt totaling
$176.4 million as of March 31, 2011.

ArchBrook Laguna Holdings LLC and certain of its affiliates filed
voluntary petitions for reorganization under chapter 11 of the
U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 11-13292) on
July 8, 2011.

Ira S. Dizengoff, Esq., Michael P. Cooley, Esq., and Alexis
Freeman, Esq., at Akin Gump Strauss Hauer & Feld LLP, in New York,
serve as bankruptcy counsel to ArchBrook Laguna.  The Company is
being advised by Macquarie Capital (USA) Inc. with respect to the
sale process and by Hawkwood Consulting LLC, whose founder Stephen
J. Gawrylewski is Chief Restructuring Officer of the Company.
Macquarie Capital (USA) Inc. is the financial advisor.
PricewaterhouseCoopers LLP is a consultant.

Cooley LLP, in New York, is the counsel for the Official Committee
of Unsecured Creditors.

Gordon Brothers Group, LLC, was declared the winning bidder at the
Aug. 8 auction of substantially all of the assets of ArchBrook
Laguna LLC and its affiliates.


ARCHBROOK LAGUNA: Garden City Approved as Administrative Agent
--------------------------------------------------------------
The Hon. Shelley C. Chapman of the U.S. Bankruptcy Court for the
Southern District of New York authorized, on an interim basis,
Archbrook Laguna Holdings LLC, et al., to employ The Garden City
Group, Inc., as administrative agent.

As reported in the Troubled Company Reporter on July 29, 2011,
upon retention, the firm, is expected among other things:

   (a) create and maintain a publicly-accessible case
       administration Web site,
       http://www.archbrookrestructuring.com,containing
       information about the Debtors, the Chapter 11 cases, and
       their restructuring, including but not limited to
       the posting of a claim register, key  pleadings, scheduled
       hearings, and press releases;

   (b) host a toll-free telephone hotline, (888) 579-1199, that
       provides information regarding the cases;   and

   (c) assist with the preparation and filing of the Debtors'
       schedules of assets and liabilities and statement of
       financial affairs;

GCG intends to apply to the Court for allowances of compensation
and reimbursement of out-of-pocket expenses incurred after the
Petition Date in connection with these cases subject to Court
approval and in accordance with the applicable provisions of the
Bankruptcy Code, the Bankruptcy Rules, the Local Rules, General
Order M-412, the guidelines established by the United States
Trustee for the Southern District of New York and further orders
of the Court.

GCG has informed the Debtors that, subject to Court approval, it
will bill at its standard hourly rates, which currently are $170
to $250.75 for senior management, $106.25 to $148.75 for project
managers, and $38.25 to $93.50 for administrative and clerical
staff.

The Debtors believe that the firm's rates are consistent with
market rates for comparable services.  These hourly rates are
subject to periodic adjustments (typically in January of each
year) to reflect economic and other conditions.  GCG will maintain
detailed records of 6 actual and necessary costs and expenses
incurred in connection with the legal services.

GCG has received an initial retainer of $55,000 from the Debtors
for its services under the 11 U.S.C. Sec. 327 application and the
Section 156(c) application, and will apply same first against all
prepetition fees and expenses and then against the last bill for
fees and expenses that GCG will incur in the Chapter 11 cases.

                     About ArchBrook Laguna

ArchBrook is a procurement and distribution intermediary between
production companies and end retailers.  It distributes consumer
electronics, computers and appliances to principal customers that
include Wal-Mart Stores Inc., Best Buy Co. and Costco Wholesale
Corp.

ArchBrook disclosed assets of $246.2 million against debt totaling
$176.4 million as of March 31, 2011.

ArchBrook Laguna Holdings LLC and certain of its affiliates filed
voluntary petitions for reorganization under chapter 11 of the
U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 11-13292) on
July 8, 2011.

Ira S. Dizengoff, Esq., Michael P. Cooley, Esq., and Alexis
Freeman, Esq., at Akin Gump Strauss Hauer & Feld LLP, in New York,
serve as bankruptcy counsel to ArchBrook Laguna.  The Company is
being advised by Macquarie Capital (USA) Inc. with respect to the
sale process and by Hawkwood Consulting LLC, whose founder Stephen
J. Gawrylewski is Chief Restructuring Officer of the Company.
Macquarie Capital (USA) Inc. is the financial advisor.
PricewaterhouseCoopers LLP is a consultant.

Cooley LLP, in New York, is the counsel for the Official Committee
of Unsecured Creditors.

Gordon Brothers Group, LLC, was declared the winning bidder at the
Aug. 8 auction of substantially all of the assets of ArchBrook
Laguna LLC and its affiliates.


ARCHBROOK LAGUNA: Court Adjusts Macquarie Advisory Fees
-------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
authorized, on an interim basis, Archbrook Laguna Holdings LLC, et
al., to employ Macquarie Capital (USA) Inc. as their financial
advisor.

As reported in the Troubled Company Reporter on July 28, 2011, the
Debtor proposed to employ Macquarie Capital, pursuant to an
engagement letter dated as of May 19, 2011, as amended, and the
related indemnification agreement.

As financial advisor, Macquarie will assist in the evaluation of
the Debtors' business and prospects, assist in the development of
long-term business plan and related financial projections, analyze
various restructuring scenarios and the potential impact of these
scenarios on the recoveries of various stakeholders impacted by
the restructuring, and provide strategic advice with regard to
restructuring or refinancing the Debtors' obligations.

Macquarie will be paid for professional services according to a
fee structure, which provides for:

   (a) a monthly advisory fee of $125,000 per month with 50% of
       all Monthly Fees after the third Monthly Fee credited,
       without duplication, against any earned Restructuring Fee,
       Sale Transaction Fee or Financing Fee; and

   (b) a Financing Fee in an amount equal to:

       * 1% of the gross proceeds of all senior indebtedness;

       * 2% of the gross proceeds of all junior secured
         indebtedness;

       * 3% of the gross proceeds of all mezzanine indebtedness;

       * 5% of the gross proceeds of all equity, equity-linked or
         equity-like securities or indebtedness; and

       * with respect to any other securities of a financing,
         underwriting discounts, placement fees or other
         compensation, customary under the circumstances, as will
         be mutually agreed upon by the Company and Macquarie;
         and

   (c) a Restructuring Fee equal to 2% of the aggregate
       outstanding principal amount of the restructured
       obligations, which will not be less than $1,250,000,
       payable upon consummation of any restructuring pursuant to
       a bankruptcy proceeding; or

   (d) a Sale Transaction Fee equal to 1.5% of the Transaction
       Value up to $100,000,000 and 2% of incremental Transaction
       Value above $100,000,000, provided that the Sale
       Transaction Fee will not be less than $1,250,000, provided
       further that, if a Sale Transaction for a material portion
       of the assets occurs through a series of transactions, the
       Sale Transaction Fee payable in the case of that
       liquidation will not be based on the Transaction Value and
       will instead be $650,000; and

   (e) reasonable out-of-pocket expenses in connection with the
       services provided.

Before the Petition Date and under the terms of the Engagement
Letter, the Debtors paid Macquarie total fees of $75,000 per month
for services rendered from May 19, 2011, through July 7, 2011, and
for reasonable out-of-pocket expenses related to those services.

David Miller, a managing director of Macquarie Capital, disclosed
that as of May 19, 2011, Macquarie was paid a $100,000 Upfront
Retainer and $117,500 in Monthly Advisory Fees for its prepetition
services to the Debtors.  As of July 8, 2011, Macquarie has earned
$217,500 for the 48 calendar days it was employed prepetition, and
has incurred $44,284 in out-of-pocket expenses.

Mr. Miller assured the Court that Macquarie is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.

The Court ordered that the engagement letter will be amended in
these respects, among other things:

   -- a fee in an amount equal to 1.5% of the Transaction Value up
   to $100,000,000 and 2.0% of incremental Transaction Value above
   $100,000,000 payable upon the consummation of a Sale
   Transaction provided that the minimum Sale Transaction Fee
   payable will be $1,250,000, further provided that a Sale
   Transaction Fee paid to Macquarie pursuant to the immediately
   preceding clause will be reduced by an amount equal to 50% of
   the aggregate amount of Monthly Advisory Fees Macquarie has
   received from the Debtors; further provided that,
   notwithstanding the foregoing, if a Sale Transaction for a
   material portion of the assets occurs through a series of
   transactions, the Sale Transaction Fee Payable in the case of
   such liquidation will not be based on the Transaction Value and
   will instead be $650,000; further provided that any Sale
   Transaction Fee paid to Macquarie pursuant to the immediately
   preceding clause will be reduced by an amount equal to 75% of
   the aggregate amount of Monthly Advisory Fees Macquarie has
   received from the Debtors.

A final hearing on Macquarie's retention will be held on Sept. 7,
2011, at 10:00 a.m. (prevailing Eastern Time).

                     About ArchBrook Laguna

ArchBrook is a procurement and distribution intermediary between
production companies and end retailers.  It distributes consumer
electronics, computers and appliances to principal customers that
include Wal-Mart Stores Inc., Best Buy Co. and Costco Wholesale
Corp.

ArchBrook disclosed assets of $246.2 million against debt totaling
$176.4 million as of March 31, 2011.

ArchBrook Laguna Holdings LLC and certain of its affiliates filed
voluntary petitions for reorganization under chapter 11 of the
U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 11-13292) on
July 8, 2011.

Ira S. Dizengoff, Esq., Michael P. Cooley, Esq., and Alexis
Freeman, Esq., at Akin Gump Strauss Hauer & Feld LLP, in New York,
serve as bankruptcy counsel to ArchBrook Laguna.  The Company is
being advised by Macquarie Capital (USA) Inc. with respect to the
sale process and by Hawkwood Consulting LLC, whose founder Stephen
J. Gawrylewski is Chief Restructuring Officer of the Company.
Macquarie Capital (USA) Inc. is the financial advisor.
PricewaterhouseCoopers LLP is a consultant.

Cooley LLP, in New York, is the counsel for the Official Committee
of Unsecured Creditors.

Gordon Brothers Group, LLC, was declared the winning bidder at the
Aug. 8 auction of substantially all of the assets of ArchBrook
Laguna LLC and its affiliates.


ATI ACQUISITION: Moody's Keeps 'Caa2' After Papers Revoked
----------------------------------------------------------
Moody's Investors Service said ATI Acquisition Company's ratings,
including its Caa2 corporate family rating, are not affected by
the Texas Workforce Commission's August 9, 2011 announcement that
it is revoking Certificates of Approval for 22 programs being
taught at ATI's career schools in Texas due to a misreporting of
graduate employment rates in those programs. The ratings remain
under review for possible further downgrade.

This summarizes the current ratings:

Corporate family rating at Caa2;

Probability of default rating at Caa2;

$17.5 million senior secured revolving credit facility due 2014 at
B3 (LGD2, 29%);

$155.5 million senior secured term loan due 2014 at B3 (LGD2,
29%);

$90 million subordinated credit agreement due 2015 at Caa3 (LGD5,
84%).

The last rating action was on August 4, 2011, when Moody's lowered
ATI's corporate family rating to Caa2 and placed the ratings under
review for possible downgrade.

The principal methodology used in rating ATI was the Global
Business & Consumer Service Industry Rating Methodology published
in October 2010. Other methodologies used include Loss Given
Default for Speculative-Grade Non-Financial Companies in the U.S.,
Canada and EMEA published in June 2009.

ATI, based in North Richland Hills, Texas, is a postsecondary
education company focused on vocational programs that operates 24
career training centers and schools in Texas, Florida, New Mexico,
Arizona, and Oklahoma.


AURA SYSTEMS: President Leaves to Pursue Other Interests
--------------------------------------------------------
Aura Systems Inc. announced that Dr. Don Macleod resigned as
president on Aug. 5, 2011, to pursue other interests.  Dr. Macleod
remains a large shareholder of the Company and will continue to
assist the Company as a consultant.

Mr. Melvin Gagerman Aura's CEO said, "It was a pleasure working
with Don, we all will miss him and wish him the very best in
whatever he does."

Dr. Macleod said, "I enjoyed my stay at Aura and remain impressed
with Aura's patented axial flux induction technology.  It is
rather interesting and amazing how the Company developed methods
and technologies that make an axial flux induction machine a
commercial reality and not just a university project.  It is my
belief that this axial flux induction machine opens new
opportunities for many different applications."

                         About Aura Systems

El Segundo, Calif.-based Aura Systems, Inc., designs, assembles,
tests and sells its proprietary and patented Axial Flux induction
machine ("AF") known as the AuraGen(R) for industrial and
commercial applications and VIPER for military applications.

Kabani & Company, Inc., in Los Angeles, Calif., expressed
substantial doubt about Aura Systems' ability to continue as a
going concern, following the Company's results for the fiscal year
ended Feb. 28, 2011.  The independent auditors noted that the
Company has historically incurred substantial losses from
operations and may not have sufficient working capital or outside
financing available to meet its planned operating activities over
the next twelve months.

The Company's balance sheet at May 31, 2011, showed $5.21 million
in total assets, $16.55 million in total liabilities, and a
$11.34 million total stockholders' deficit.


AURASOUND INC: Amends March 31 Form 10-Q After SEC's Comments
-------------------------------------------------------------
AuraSound, Inc., filed with the U.S. Securities and Exchange
Commission Amendment No. 1 to its quarterly report on Form 10-Q
for the quarter ended March 31, 2011, originally filed on May 5,
2011, in order to amend, among other things, the consolidated
statements of cash flows in response to comments received by the
Company from the SEC.

The Company reported net income of $562,961 on $16.03 million of
net revenue for the three months ended March 31, 2011, compared
with a net loss of $480,653 on $1.74 million of net revenue for
the same period during the prior year.

The Company also reported net income of $1.61 million on $54.18
million of net revenue for the nine months ended March 31, 2011,
compared with a net loss of $1.53 million on $4.81 million of net
revenue for the same period a year ago.

The Company's balance sheet at March 31, 2011, showed
$34.09 million in total assets, $27.73 million in total
liabilities, all current, and $6.36 million in total stockholders'
equity.

A full-text copy of the quarterly report, as amended, is available
for free at http://is.gd/cmiJUD

                       About AuraSound, Inc.

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

                           Going Concern

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

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


AVISTAR COMMUNICATIONS: Files Form 10-Q, Incurs $2.2-Mil. Q2 Loss
-----------------------------------------------------------------
Avistar Communications Corporation filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q
reporting a net loss of $2.19 million on $1.47 million of total
revenue for the three months ended June 30, 2011, compared with a
net loss of $2.40 million on $1.02 million of total revenue for
the same period during the prior year.

The Company also reported a net loss of $4.61 million on
$2.86 million of total revenue for the six months ended June 30,
2011, compared with net income of $7.82 million on $15.79 million
of total revenue for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $2.31 million
in total assets, $14.03 million in total liabilities, and a
$11.71 million total stockholders' deficit.

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

                        http://is.gd/Dr5AIb

                   About Avistar Communications

Headquartered in San Mateo, California, Avistar Communications
Corporation (Nasdaq: AVSR) -- http://www.avistar.com/-- holds a
portfolio of 80 patents for inventions in video and network
technology and licenses IP to videoconferencing, rich-media
services, public networking and related industries.  Current
licensees include Sony Corporation, Sony Computer Entertainment
Inc. (SCEI), Polycom Inc., Tandberg ASA, Radvision Ltd. and
Emblaze-VCON.

The Company reported net income of $4.45 million on $19.65 million
of total revenue for the year ended Dec. 31, 2010, compared with a
net loss of $3.98 million on $8.82 million of total revenue during
the prior year.


AXESSTEL INC: Incurs $687,000 Net Loss in Second Quarter
--------------------------------------------------------
Axexxtel, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q reporting a net loss
of $687,264 on $7.54 million of revenue for the three months ended
June 30, 2011, compared with a net loss of $1.36 million on $11.20
million of revenue for the same period during the prior year.

The Company also reported a net loss of $1.22 million on
$20.17 million of revenue for the six months ended June 30, 2011,
compared with a net loss of $2.76 million on $26.67 million of
revenue for the same period during the previous year.

The Company's balance sheet at June 30, 2011, showed $8.93 million
in total assets, $22.94 million in total liabilities, all current,
and a $14 million total stockholders' deficit.

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

                        http://is.gd/Okztk8

                        About Axesstel, Inc.

San Diego, Calif.-based Axesstel, Inc. (OTC BB: AXST)
-- http://www.axesstel.com/-- is a provider of fixed wireless
voice and broadband access solutions for the worldwide
telecommunications market.

The Company reported a net loss of $6.31 million on $45.43 million
of revenue for the year ended Dec. 31, 2010, compared with a net
loss of $10.13 million on $50.82 million of revenue during the
prior year.

Gumbiner Savett Inc., in Santa Monica, Calif., 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 historically
incurred substantial losses from operations, and the Company may
not have sufficient working capital or outside financing available
to meet its planned operating activities over the next twelve
months.  Additionally, there is uncertainty as to the impact that
the worldwide economic downturn may have on the Company's
operations.


BAMACHEX INC: Files for Chapter 11 Bankruptcy Protection
--------------------------------------------------------
BamaChex, Inc., has filed a Chapter 11 petition (Bankr. N.D. Ala.
Case No. 11-04020) in Birmingham, Alabama, estimating assets and
debts between $1 million and $10 million.

Russell Hubbard at the Birmingham News reports that BamaChex
indicated in the Chapter 11 filing that money will be available
for unsecured creditors, or those who don't hold collateral.

The report says the Company's filing listed eight locations:
Birmingham, Center Point, Jasper, Cullman, Homewood, Anniston,
Bessemer and Midfield.

Bamachex was formed in 2008 to own and operate restaurants,
according to the Alabama Secretary of State.  In 2009, Bamachex
signed a 20-year lease valued at almost $700,000 for its
restaurant on 12th Avenue North in Birmingham.  Rally's Hamburgers
was formed in Indiana in the 1980s, and in 1999 merged with a
Mobile-based chain called Checkers Drive-in Restaurants.


BAMACHEX INC: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: BamaChex, Inc.
        c/o 1209 Crowne Reserve Dr.
        Hoover, AL 35244

Bankruptcy Case No.: 11-04020

Chapter 11 Petition Date: August 11, 2011

Court: United States Bankruptcy Court
       Northern District of Alabama (Birmingham)

Judge: Benjamin G. Cohen

Debtor's Counsel: Frederick Mott Garfield, Esq.
                  SEXTON & ASSOCIATES, PC
                  1330 21st Way South
                  Birmingham, AL 35205
                  Tel: (205) 558-4999
                  Fax: (205) 558-4997
                  E-mail: fmgarfield@sextonattorneys.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 Mark Williams, chief operating officer.


BANK OF GRANITE: Incurs $3.4 Million Net Loss in Second Quarter
---------------------------------------------------------------
Bank of Granite Corporation filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $3.42 million on $9.24 million of total interest
income for the three months ended June 30, 2011, compared with a
net loss of $7.51 million on $11.43 million of total interest
income for the same period during the prior year.

The Company also reported a net loss of $5.21 million on
$18.94 million of total interest income for the six months ended
June 30, 2011, compared with a net loss of $16.86 million on
$23.72 million of total interest income for the same period a year
ago.

The Company's balance sheet at June 30, 2011, showed
$807.06 million in total assets, $787.75 million in total
liabilities, and $19.30 million in total stockholders' equity.

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

                        http://is.gd/tLFfDS

                       About Bank of Granite

Granite Falls, N.C.-based Bank of Granite Corporation is a
Delaware corporation that was organized June 1, 1987, as a bank
holding company.  The Company's only businesses are the ownership
and operation of Bank of Granite, a state bank chartered under the
laws of North Carolina on Aug. 2, 1906, and Granite Mortgage,
Inc., a mortgage bank chartered under the laws of North Carolina
on June 24, 1985.  Granite Mortgage discontinued its origination
activities during 2009.

The Company conducts its community banking business operations
from 20 full-service offices located in Burke, Caldwell, Catawba,
Forsyth, Iredell, Mecklenburg, Watauga, and Wilkes counties in
North Carolina.

                     Cease and Desist Order

In 2009, Bank of Granite entered into a Stipulation and Consent to
the issuance of an Order to Cease and Desist by the Federal
Deposit Insurance Corporation and the North Carolina Commissioner
of Banks.  Based on the Company's Consent, the FDIC and the
Commissioner jointly issued the Order on Aug. 27, 2009.

The Order requires the Bank to achieve and maintain Tier 1
Leverage Capital Ratio of not less than 8% and a Total Risk-Based
Capital of not less than 12% for the life of the Order.

                      Going Concern Doubt

The Company reported a net loss of $23.66 million on
$44.80 million of total interest income for the year ended
Dec. 31, 2010, compared with a net loss of $25.62 million on
$52.64 million of total interest income during the prior year.

Dixon Hughes PLLC, in Charlotte, North Carolina, expressed
substantial doubt about the Company's ability to continue as a
going concern, following the Company's 2010 financial results.
The independent auditors noted that the Company incurred net
losses in 2010 and 2009, primarily from higher provisions for loan
losses.  Bank of Granite Corporation's wholly-owned bank
subsidiary is under a regulatory order that requires, among other
provisions, higher regulatory capital requirements.  The Bank did
not meet the higher capital requirements as of Dec. 31, 2010 and
is not in compliance with the regulatory agreement.  Failure to
comply with the regulatory agreement may result in additional
regulatory enforcement actions.


BIOJECT MEDICAL: Posts $274,000 Net Income in Second Quarter
------------------------------------------------------------
Bioject Medical Technologies Inc. reported net income of $274,000
on $2.39 million of revenue for the three months ended June 30,
2011, compared with a net loss of $556,000 on $1.15 million of
revenue for the same period a year ago.

The Company also reported net income of $118,000 on $4.13 million
of revenue for the six months ended June 30, 2011, compared with a
net loss of 1.10 million on $2.34 million of revenue for the same
period during the prior year.

The Company's balance sheet at June 30, 2011, showed $4.88 million
in total assets, $4.27 million in total liabilities, and $612,000
in stockholders' equity.

"Second quarter 2011 revenue increased 107% over the same prior
year-ago time period and we are very pleased by these positive
results," said Ralph Makar, Bioject's President and CEO.  "The
significant increase in second quarter 2011 revenue contributed
greatly to the over 76% revenue growth for the six months ending
June 30, 2011, as compared to mid-year 2010 revenue.  Due to our
higher revenue, driven by increased sales to Merial and additional
one-time orders to Merck Serono for 2011, which we began shipping
in the second quarter, Bioject was able to report positive net
income for both the quarter and the six months ended June 30,
2011," commented Mr. Makar.

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

                       About Bioject Medical

Bioject Medical Technologies Inc. (OTCBB: BJCT) --
http://www.bioject.com/-- based in Portland, Oregon, is an
innovative developer and manufacturer of needle-free injection
therapy systems.  The Company is focused on developing mutually
beneficial agreements with leading pharmaceutical, biotechnology,
and veterinary companies.

The Company reported a net loss of $1.47 million on $5.57 million
of revenue for the year ended Dec. 31, 2010, compared with a net
loss of $1.08 million on $6.69 million of revenue during the prior
year.

As reported by the TCR on April 5, 2011, Moss Adams LLP, in
Portland, Oregon, noted that the Company has suffered recurring
losses, has had significant recurring negative cash flows from
operations, and has an accumulated deficit that raise substantial
doubt about its ability to continue as a going concern.


BIOLASE TECHNOLOGY: Incurs $753,000 Net Loss in Second Quarter
--------------------------------------------------------------
BIOLASE Technology, Inc., reported a net loss of $753,000 on
$12.08 million of net revenue for the three months ended June 30,
2011, compared with a net loss of $4.16 million on $5.89 million
of net revenue for the same period during the prior year.

The Company also reported a net loss of $1.50 million on
$22.64 million of net revenue for the six months ended June 30,
2011, compared with a net loss of $9.47 million on $10.28 million
of net revenue for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed
$29.91 million in total assets, $15 million in total liabilities,
and $14.91 million in total stockholders' equity.

Federico Pignatelli, Chairman and CEO, said, in a statement, "The
rate of revenue growth and operational progress at the Company
continued to accelerate in the second quarter and our momentum
going into the second half of the year is strong.  Sales
activities across our laser product platforms remained very active
- especially in the case of the Waterlase iPlus, which we believe
will become the most successful all-tissue dental laser in
history.  In addition, we are now taking orders and will soon be
shipping the first units from our new BIOLASE DaVinci ImagingTM
product line.  We believe that the launch of imaging will not only
benefit revenues, but will create additional synergy and higher
utilization of our sales force investment for years to come.  Our
launch into the dental digital imaging capital equipment market
allows us to leverage our valuable brand and existing install base
and offer a perfect complement to our laser devices which is the
next logical step in offering dentists our Total Technology
SolutionTM."

A full-text copy of the press release announcing the financial
results its available for free at http://is.gd/nR8c81

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

                        http://is.gd/2tgCfQ

                      About BIOLASE Technology

Irvine, Calif.-based BIOLASE Technology, Inc. (NASDAQ: BLTI)
-- http://www.biolase.com/-- is a dental laser company.  The
Company develops, manufactures and markets Waterlase technology
and lasers and related products that advance the practice of
dentistry and medicine.

The Company reported a net loss of $12.02 million on
$24.58 million of products and services revenues for the year
ended Dec. 31, 2010, compared with a net loss of $2.95 million on
$42.14 million of products and services revenues during the prior
year.

BDO USA, LLP, raised substantial doubt about the Company's ability
to continue as a going concern, following the 2010 financial
results.  The accounting firm noted that the Company has suffered
recurring losses from operations, has had declining revenues and
has a working capital deficit at Dec. 31, 2010.


BIOLASE TECHNOLOGY: Board OKs 2MM Shares Stock Repurchase Program
-----------------------------------------------------------------
BIOLASE Technology, Inc., announced that its Board of Directors
has approved a stock repurchase program of up to 2,000,000 shares
of the Company's outstanding common stock.

The stock repurchase program will be effective commencing on the
business day following the filing of the Company's quarterly
report on Form 10-Q for the quarter ended June 30, 2011, with the
Securities and Exchange Commission and will expire on the same day
24 months thereafter.  Purchases may be made from time to time
through a variety of methods, including open market purchases,
privately negotiated transactions, and block transactions.  The
Company has no obligation to repurchase shares under the stock
repurchase program, and the timing, actual number, and value of
the shares that are repurchased will be at the discretion of the
Company's management and will depend upon a number of
considerations, including the trading price of the Company's
common stock, general market conditions, applicable legal
requirements, and other factors.  The Company expects to fund the
stock repurchase program with existing cash and cash equivalents
on hand.  Any shares repurchased will be retired and will resume
the status of authorized and unissued shares.

Federico Pignatelli, Chairman and CEO, said, "The management and
the Board of Directors believe that the use of BIOLASE's capital
has to be based on flexibility and opportunity.  I see great value
in repurchasing shares when irrational valuations occur."

                      About BIOLASE Technology

Irvine, Calif.-based BIOLASE Technology, Inc. (NASDAQ: BLTI)
-- http://www.biolase.com/-- is a dental laser company.  The
Company develops, manufactures and markets Waterlase technology
and lasers and related products that advance the practice of
dentistry and medicine.

The Company reported a net loss of $12.02 million on
$24.58 million of products and services revenues for the year
ended Dec. 31, 2010, compared with a net loss of $2.95 million on
$42.14 million of products and services revenues during the prior
year.

The Company's balance sheet at June 30, 2011, showed
$29.91 million in total assets, $15 million in total liabilities,
and $14.91 million in total stockholders' equity.

BDO USA, LLP, raised substantial doubt about the Company's ability
to continue as a going concern, following the 2010 financial
results.  The accounting firm noted that the Company has suffered
recurring losses from operations, has had declining revenues and
has a working capital deficit at Dec. 31, 2010.


BIOLASE TECHNOLOGY: Fulfills $9-Mil. Henry Schein Purchase Order
----------------------------------------------------------------
BIOLASE Technology, Inc., announced that it has fulfilled the
second of two prepaid purchase orders totaling approximately $9
million under the Distribution and Supply Agreement entered into
with Henry Schein on Sept. 23, 2010.

The final products required to complete the second purchase order,
totaling approximately $3 million, have been shipped during the
current quarter, prior to the agreement's Aug. 25, 2011, due date.
The first purchase order, totaling approximately $6 million, was
completed during the fourth quarter of 2010 and the first quarter
of 2011.

Chairman and CEO Federico Pignatelli said, "I am very pleased that
BIOLASE has now entirely fulfilled its purchase order obligations
to Schein and eliminated this liability from its financial
statements.  We are thrilled as we continue to move forward into a
new era utilizing a direct sales force and a wide range of
independent distribution selling channels throughout the world."

BIOLASE has renegotiated certain rights previously granted to
Schein and regained full rights to sell or distribute the
Company's products in North America and in all international
markets which were formerly exclusive markets of Schein.  BIOLASE
now sells direct and through multiple distributors, including
Schein, in North America and internationally.

                     About BIOLASE Technology

Irvine, Calif.-based BIOLASE Technology, Inc. (NASDAQ: BLTI)
-- http://www.biolase.com/-- is a dental laser company.  The
Company develops, manufactures and markets Waterlase technology
and lasers and related products that advance the practice of
dentistry and medicine.

The Company reported a net loss of $12.02 million on
$24.58 million of products and services revenues for the year
ended Dec. 31, 2010, compared with a net loss of $2.95 million on
$42.14 million of products and services revenues during the prior
year.

The Company's balance sheet at June 30, 2011, showed
$29.91 million in total assets, $15 million in total liabilities,
and $14.91 million in total stockholders' equity.

BDO USA, LLP, raised substantial doubt about the Company's ability
to continue as a going concern, following the 2010 financial
results.  The accounting firm noted that the Company has suffered
recurring losses from operations, has had declining revenues and
has a working capital deficit at Dec. 31, 2010.


BIOLIFE SOLUTIONS: Hikes Girschweiler & Villiger Loan Facilities
----------------------------------------------------------------
Biolife Solutions, Inc., entered into an amendment to its Secured
Multi-Draw Term Loan Facility Agreement with each of Thomas
Girschweiler, a director and stockholder of the Company, and
Walter Villiger, an affiliate of the Company, each a non-U.S.
Person, pursuant to which the amount of each of the Investor's
Facility was increased to $5,250,000.  The Note previously
delivered to each of the Investors also was amended to reflect the
changes to the Facility Agreement.  In consideration of those
amendments, the Company issued to each of the Investors a five-
year warrant to purchase 1,000,000 shares of the Company's Common
Stock, par value $0.001 per share, at a price of $0.063 per share.

                      About BioLife Solutions

Bothell, Washington-based BioLife Solutions, Inc. develops and
markets patented hypothermic storage and cryopreservation
solutions for cells, tissues, and organs, and provides contracted
research and development and consulting services related to
optimization of biopreservation processes and protocols.

The Company reported a net loss of $1.98 million on $2.08 million
of total revenue for the year ended Dec. 31, 2010, compared with a
net loss of $2.77 million on $1.58 million of total revenue during
the prior year.

The Company's balance sheet at March 31, 2011, showed
$1.38 million in total assets, $11.48 million in total
liabilities, and a $10.10 million total shareholder's deficiency.

Peterson Sullivan LLP, in Seattle, Wash., expressed substantial
doubt about the Company's ability to continue as a going concern,
following the 2010 financial results.  The accounting firm noted
that the Company has been unable to generate sufficient income
from operations in order to meet its operating needs and has an
accumulated deficit of approximately $52 million at Dec. 31, 2010.


BMB MUNAI: To Delist from NYSE Amex After Emir Oil Sale
-------------------------------------------------------
The Board of Directors of BMB Munai, Inc., authorized, subject to
the successful completion of the sale of its wholly-owned
operating subsidiary, Emir Oil LLP, to a wholly-owned subsidiary
of MIE Holdings Corporation, the voluntarily delisting of the
Company's common stock, $.001 par value per share, from the NYSE
Amex LLC.  The Company notified the Amex of its intention on Aug.
5, 2011.

The Company expects that the last day of trading of its Common
Stock on the Amex will be ten calendar days after the closing of
the Sale.  Notwithstanding the voluntary removal from listing on
the Amex of its shares of Common Stock, the Company intends to
continue to file periodic and other reports and make other filings
with the Securities and Exchange Commission pursuant to the
requirements of the Securities Exchange Act of 1934, as amended,
for the foreseeable future.

The Company's announcement of its intention to voluntarily delist
from the NYSE Amex is another step in a series of steps the
Company is taking towards the closing of the pending Sale.

                         Sale of Emir Oil

On Feb. 14, 2011, the Company entered into a Participation
Interest Purchase Agreement with MIE Holdings Corporation, a
company with limited liability organized under the laws of the
Cayman Islands, and its subsidiary, Palaeontol B.V., a company
organized under the laws of the Netherlands, pursuant to which the
Company agreed to sell (i) all of its interest in Emir Oil to
Palaeontol, and (ii) certain intercompany loans it made to Emir
Oil.  The initial purchase price is $170 million and is subject to
various closing adjustments and the deposit of $36 million in
escrow to be held for a period of twelve months following the
closing for indemnification purposes.

Upon consummation of the Sale, the Company will use a portion of
the proceeds to repay the Company's outstanding Senior Notes and
to pay transaction costs and expenses.

The Company's stockholders approved the Sale of June 2, 2011.  The
The parties are currently working to satisfy the other closing
conditions.

                          About BMB Munai

Based in Almaty, Kazakhstan, BMB Munai, Inc., is a Nevada
corporation that originally incorporated in the State of Utah in
1981.  Since 2003, its business activities have focused on oil and
natural gas exploration and production in the Republic of
Kazakhstan through its wholly-owned operating subsidiary Emir Oil
LLP.  Emir Oil holds an exploration contract that allows the
Company to conduct exploration drilling and oil production in the
Mangistau Province in the southwestern region of Kazakhstan until
January 2013.  The exploration territory of its contract area is
approximately 850 square kilometers and is comprised of three
areas, referred to herein as the ADE Block, the Southeast Block
and the Northwest Block.

The Company realized a loss from continuing operations of
$15.1 million during fiscal year 2011 compared to $10.7 million
during fiscal year 2010.  This 41% increase in loss from
continuing operations was primarily attributable to increased
general and administrative and interest expense and the foreign
exchange loss of $415,803 incurred during fiscal year 2011.

Hansen, Barnett & Maxwell, P.C., in Salt Lake City, said that as a
result of the pending sale of Emir Oil LLP, BMB Munai will have no
continuing operations that result in positive cash flow, which
raise substantial doubt about its ability to continue as a going
concern.

The Company did not generate any revenue during the fiscal years
ended March 31, 2011, and 2010, except from oil and gas sales
through Emir Oil.

                        Bankruptcy Warning

The Company has disclosed that if it does not complete the sale,
it will not have sufficient funds to retire the restructured
Senior Notes when they become due.  "In this event, we would
likely be required to consider liquidation alternatives, including
the liquidation of our business under bankruptcy
protection," the Company said.


BRAND MANAGEMENT: Files List of Six Largest Unsecured Creditors
---------------------------------------------------------------
Brand Management Services Inc. has filed with the U.S. Bankruptcy
Court for the Eastern District of New York a list of its six
largest unsecured creditors.

Debtor's List of Six Largest Unsecured Creditors:

  Entity                        Nature of Claim      Claim Amount
  ------                        ---------------      ------------
Sentry Insurance
Company
P.O. Box 88372                 Insurance Premiums
Wilwaulkee, WI 53288-0372      Disputed Claim       $9,000,000.00

Harold Weber
Bedford Avenue
Brooklyn, NY 11211             Loan                   $749,333.00

US Management Inc.             Loan From Affiliated
129 South 8th Street           Company
Brooklyn, NY 11211                                    $269,917.53

A Best Management Inc.         Loan From
                               Affiliated Company
                               Agreed Claim           $219,026.56

County Agency Inc.             Loan From
                               Affiliated Company
                               Agreed Claim           $205,833.13

Value Management               Loan From Affiliated
                               Company                 $83,000.00

                  About Brand Management Services

Brooklyn, New York-based Brand Management Services Inc. is a
privately held company that provides various business services to
its customers.  Its primary assets consist of accounts receivable,
leasehold improvements and cash in the bank.  Brand Management
Services filed for Chapter 11 bankruptcy (Bankr. E.D.N.Y. Case No.
11-46230) on July 20, 2011.  Judge Joel B. Rosenthal presides over
the case.  Avrom R. Vann, P.C., serves as bankruptcy counsel.

Brand Management Services filed with the Court its schedules of
assets and liabilities, disclosing $280,627 in total assets,
consisting mostly of accounts receivable, office improvement and
equipment, and $7,119 in a bank account with Capital One.  The
Debtor listed $10,527,110 in total liabilities, all general
unsecured non-priority in nature.

The petition was signed by Harold Weber, president.


CAESARS ENTERTAINMENT: Incurs $153.1-Mil. 2nd Quarter Net Loss
--------------------------------------------------------------
Caesars Entertainment Corporation filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q,
reporting a net loss of $153.10 million on $2.23 billion of net
revenues for the quarter ended June 30, 2011, compared with a net
loss of $272.50 million on $2.22 billion of net revenues for the
same period during the prior year.

The Company also reported a net loss of $297.90 million on
$4.41 billion of net revenues for the six months ended June 30,
2011, compared with a net loss of $466.10 million on $4.41 billion
of net revenues for the same period during the previous year.

The Company's balance sheet at June 30, 2011, showed $28.96
billion in total assets, $27.53 billion in total liabilities,
$36 million in redeemable non-controlling interests, and $1.39
billion in total stockholders' equity.

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

                        http://is.gd/XpwC06

                    About Caesars Entertainment

Caesars Entertainment Corp., formerly Harrah's Entertainment Inc.
-- http://www.caesars.com/-- is one of the world's largest casino
companies, with annual revenue of $4.2 billion, 20 properties on
three continents, more than 25,000 hotel rooms, two million square
feet of casino space and 50,000 employees.  Caesars casino resorts
operate under the Caesars, Bally's, Flamingo, Grand Casinos,
Hilton and Paris brand names.  The Company has its corporate
headquarters in Las Vegas.

Harrah's announced its re-branding to Caesar's on mid-November
2010.  Harrah's carries 'Caa3' long term corporate family and
probability of default ratings, with 'positive' outlook, from
Moody's Investors Service.  It has a 'B-' issuer credit rating,
with 'stable' outlook, from Standard & Poor's.

"The 'B-' corporate credit rating reflects Caesars' very weak
credit measures and our belief that prospects for a meaningful
rebound in net revenues and EBITDA in 2011 do not seem promising
given the current economic outlook," said Standard & Poor's credit
analyst Ben Bubeck in May 2011. "While several actions taken by
management have positioned the company with a moderate covenant
cushion and very limited debt maturities over the next few years,
Caesars' capacity to continue to fund operational and capital
spending needs and meet debt service obligations relies on
meaningful growth in cash flow generation over the next few
years."

As reported by the TCR on March 3, 2011, Moody's Investors Service
upgraded Caesars Entertainment's Corporate Family ratings and
Probability of Default ratings to Caa2.  CET's Caa2 Corporate
Family Ratings reflect very high leverage, weak interest coverage,
the company's debt financed growth strategy, and Moody's view that
the company's current capital structure in unsustainable in the
long-term.  The ratings reflect Moody's expectation that gaming
demand will rebound very slowly over the next several years.
However, in the absence of a material de-leveraging transaction,
Moody's do not expect the company's capital structure to improve
materially over the next few years.  Additionally, given CEC's
weak credit profile, there is a possibility that the company could
again pursue transactions that will result in impairment of debt
holder claims as a means to improve its capital structure.


CAPITOL BANCORP: Incurs $17.5 Million Net Loss in Second Quarter
----------------------------------------------------------------
Capitol Bancorp Limited reported a net loss of $17.50 million on
$28.91 million of total interest income for the three months ended
June 30, 2011, compared with a net loss of $43.92 million on
$35.26 million of total interest income for the same period during
the prior year.

The Company also reported a net loss of $20.28 million on
$59.67 million of total interest income for the six months ended
June 30, 2011, compared with a net loss of $105.86 million on
$72.44 million of total interest income for the same period a year
ago.

The Company's balance sheet at June 30, 2011, showed $2.94 billion
in total assets, $3 billion in total liabilities, and a
$58.95 million total deficit.

Capitol's Chairman and CEO Joseph D. Reid said, "Our efforts are
focused on addressing the challenges that we continue to face in
multiple markets.  We continue to work on deleveraging the
consolidated balance sheet and reallocating equity capital across
our affiliate bank network, while also focusing on efficiently
managing corporate risk and improving liquidity.  Although
declines have been evidenced in recent quarters, the levels of
nonperforming assets remain elevated and the management of those
assets requires significant attention and resources.  We are
confident that appropriate steps are being taken through regional
consolidations and bank divestiture efforts to address the
deterioration that has occurred in capital and we are cautiously
encouraged by recent positive trends in asset quality and
operating performance."

A full-text copy of the press release announcing the financial
results is available for free at http://is.gd/4t9cPS

                   About Capitol Bancorp Limited

Capitol Bancorp Limited (NYSE: CBC) --
http://www.capitolbancorp.com/-- is a $5.1 billion national
community banking company, with a network of bank operations in 16
states.  Founded in 1988, Capitol Bancorp Limited has executive
offices in Lansing, Michigan and Phoenix, Arizona.

The Company reported a net loss of $254.36 million on
$163.69 million of total interest income for the year ended
Dec. 31, 2010, compared with a net loss of $264.54 million on
$197.78 million of total interest income during the prior year.

In September 2009, Capitol and its second-tier bank holding
companies entered into a written agreement with the Federal
Reserve Bank of Chicago under which Capitol has agreed, among
other things, to submit to the Reserve Bank a written plan to
maintain sufficient capital at Capitol on a consolidated basis and
at Michigan Commerce Bank (as a separate legal entity on a stand-
alone basis); and a written plan to enhance the consolidated
organization's risk management practices, a strategic plan to
improve the consolidated organization's operating results and
overall condition and a cash flow projection.

Certain of Capitol's bank subsidiaries have entered into formal
agreements with their applicable regulatory agencies.  Those
agreements provide for certain restrictions and other guidelines
and/or limitations to be followed by the banks.

In 2009, Capitol commenced the deferral of interest payments on
its various trust-preferred securities, as is permitted under the
terms of the securities, to conserve cash and capital resources.
The payment of interest may be deferred for periods up to five
years.  During such deferral periods, Capitol is prohibited from
paying dividends on its common stock (subject to certain
exceptions) and is further restricted by Capitol's written
agreement with the Federal Reserve Bank of Chicago.  Accrued
interest payable on such securities approximated $18.1 million at
June 30, 2010.


CAPSTONE TURBINE: Posts $2.9 Million Net Loss in Q1 Ended June 30
-----------------------------------------------------------------
Capstone Turbine Corporation filed its quarterly report on Form
10-Q, reporting a net loss of $2.9 million on $24.3 million of
revenue for the three months ended June 30, 2011, compared with
net income of $392,000 on $16.1 million of revenue for the three
months ended June 30, 200.

The Company's balance sheet at June 30, 2011, showed $77.3 million
in total assets, $43.7 million in total liabilities, and
stockholders' equity of $33.6 million.

The Company says in the filing that although it expects that its
existing cash and cash equivalents are sufficient to meet its
anticipated cash needs for working capital and capital
expenditures for at least the next twelve months.  However, if
anticipated cash needs of the Company change, it may have to raise
funds by selling additional securities to the public or to
selected investors, or by obtaining debt financing.

"Should the Company be unable to execute its plans or obtain
additional financing that might be needed if the Company's cash
needs change, the Company may be unable to continue as a going
concern.  Therefore, there is substantial doubt as to the
Company's ability to continue as a going concern."

A copy of the Form 10-Q is available at http://is.gd/AaMvI3

Chatsworth, California-based Capstone Turbine Corporation
develops, manufactures, markets and services microturbine
technology solutions for use in stationary distributed power
generation applications, including cogeneration (combined heat and
power, integrated combined heat and power, combined cooling, heat
and power, resource recovery and secure power.  In addition, the
Company's microturbines can be used as battery charging generators
for hybrid electric vehicle applications.


CARGO TRANSPORTATION: Committee Taps Hill Ward as Counsel
---------------------------------------------------------
The Official Committee of Unsecured Creditors of Cargo
Transportation Services Inc. asks the U.S. Bankruptcy Court for
the Middle District of Florida for permission to retain Hill Ward
& Henderson P.A. as its counsel to advise the Committee with
respect to its rights, powers and duties in the Chapter 11 case.

The firm will charge the Debtor's estates based on the hourly
rates of its professionals:

   Michael P. Brundage, Esq.  $400
   Kem Tool, Esq.             $350
   Patrick Mosley, Esq.       $275
   R. Travis Santos, Esq.     $200
   Associate                $200-$400
   Paralegal                 $90-$150

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

                    About Cargo Transportation

Sunrise, Florida-based Cargo Transportation Services, Inc.,
provides transportation services to clients nationwide, including
customized consolidation, distribution, logistics and warehousing
services.  It has 140 employees and averages $100,000,000 in gross
revenue per year.

Cargo Transportation filed for Chapter 11 bankruptcy protection
(Bankr. M.D. Fla. Case No. 11-00432) on Jan. 12, 2011.  Edward J.
Peterson, III, Esq., at Stichter, Riedel, Blain & Prosser, PA,
serves as the Debtor's bankruptcy counsel.  Jennis & Bowen, P.L.,
serves as substitute counsel.  1 Source Partners Inc. and Accell
Audit & Compliance P.A., serve as the Debtor's certified public
accountants.

Donald F. Walton, U.S. Trustee for Region 21, appointed an
Official Committee of the Official Committee of Unsecured
Creditors in the Debtor's case.  Hunton & Williams LLP represents
the Committee in the Chapter 11 proceedings.

The Debtor disclosed $11,728,760 in assets, and $11,869,375 in
liabilities as of the Chapter 11 filing.


CCB INVESTORS: Case Summary & 9 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: CCB Investors Assets Management, LLC
        495 Peacock Lane North
        Jupiter, FL 33458

Bankruptcy Case No.: 11-32534

Chapter 11 Petition Date: August 11, 2011

Court: U.S. Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Erik P. Kimball

Debtor's Counsel: Susan D. Lasky, Esq.
                  SUSAN D. LASKY, PA
                  2101 N. Andrews Avenue, #405
                  Wilton Manors, FL 33311
                  Tel: (954) 565-5854
                  Fax: (954) 462-8411
                  E-mail: SDLPAECF@bellsouth.net

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

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

The petition was signed by Chris Baker, manager.

Debtor's List of nine Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Angelo T. Gullotti                 --                     $877,000
27370 Winding Way
Malibu, CA 90265

William L. Baker                   --                     $425,000
9 South Marina Way
Key Largo, FL 33037

Nexus Design Group                 --                      $25,000
2875 Jupiter Park Drive, Suite 500
Jupiter, FL 33458

The Bluffs Marina Assoc.           --                      $22,120

IRS                                --                      $13,000

Sotillo & Company CPA              --                       $9,095

Morgan Olsen & Olsen               --                       $8,955

Smiley & Associates Inc.           --                       $1,360

Cotleur & Hearing                  --                       $1,295


CELL THERAPEUTICS: Settles Lash Litigation for $11 Million
----------------------------------------------------------
Cell Therapeutics, Inc., has settled an outstanding litigation
entitled Cell Therapeutics, Inc., v. The Lash Group, Inc., et al.,
Case No. 07-310.

Under the settlement agreement, CTI will receive from Lash's
insurers a cash payment of $11 million within 60 days.  Net
proceeds to CTI after payment of unaccrued attorneys' fees,
litigation costs and expenses will be approximately $8.3 million.
The settlement also provides for a complete, mutual and general
release of all claims between CTI and Lash Group, Inc.

On Jan. 22, 2007, the Company filed a complaint in King County
Washington Superior Court against Lash and Documedics Acquisition
Co., Inc., the Company's former third-party reimbursement expert
for TRISENOX, seeking recovery of damages, including losses
incurred by the Company in connection with its investigation,
defense and settlement of claims by the United States concerning
Medicare reimbursement for TRISENOX and other claims.  On Feb. 28,
2007, Lash removed the case to U.S. District Court in the Western
District of Washington.

The settlement is not an admission of liability by either party.

                     About Cell Therapeutics

Headquartered in Seattle, Washington, Cell Therapeutics, Inc.
(NASDAQ and MTA: CTIC) -- http://www.CellTherapeutics.com/-- is a
biopharmaceutical company committed to developing an integrated
portfolio of oncology products aimed at making cancer more
treatable.

The Company reported a net loss of $82.64 million on $319,000 of
revenue for the 12 months ended Dec. 31, 2010, compared with a net
loss of $82.64 million on $80,000 of total revenue during the same
period in 2009.

The Company's balance sheet at March 31, 2011 showed
$60.92 million in total assets, $43.11 million in total
liabilities, $13.46 million in common stock purchase warrants and
$4.35 million total shareholders' equity.

Marcum LLP, in San Francisco, Calif., expressed substantial doubt
about the Company's ability to continue as a going concern in its
audit reports for the financial statements for 2009 and 2010.  The
independent auditors noted that the Company has incurred losses
since its inception, and has a working capital deficiency of
approximately $14.2 million at Dec. 31, 2010.


CENTRAL FALLS, R.I.: Other Local Govts. Awaiting Pension Ruling
---------------------------------------------------------------
Bob Thayer at the Providence Journal reports that as state
receiver Robert G. Flanders Jr. used the power of the bankruptcy
filing to impose immediate changes in the city of Central Falls'
pension plans, governmental officials and bankruptcy specialists
across the country will be watching to see if the court allows it
to stand.  If does, it could give other financially strapped
governments a powerful option in their efforts to cut retiree
benefits, according to the report.

According to the Providence Journal, the local governments in
Chapter 9 cases in California didn't ask the court to let them
impose changes in their pension plans.  Both were able to use the
court's contract-changing power to find the savings they needed in
their annual operating budgets; they didn't need concessions from
retirees.

                        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.


CENTRAL FALLS, R.I.: Receiver Wants Exit Plan in a Month
--------------------------------------------------------
John Hill, Providence Journal staff writer, reports Robert G.
Flanders Jr., the state-appointed receiver for the city of Central
Falls, Rhode Island, wants a reorganization plan done in a month.
By setting an end-of-summer goal, Mr. Flanders is seeking to buck
the general trend in bankruptcies, where cases can linger for
years and cost millions of dollars, the report notes.

According to the Providence Journal, special bankruptcy Judge
Frank J. Bailey, sitting in Providence, has said he too wants the
Central Falls case resolved as swiftly as practicable and is
willing to assist in any settlement talks.

The Providence Journal relates Mr. Flanders is seeking court
approval to make $5.6 million in spending cuts by reducing the
city's $22-million operating budget and cutting by as much as 50%
the pensions being paid to some of the city's 140 former public
safety employees or their survivors.  The pension cuts are driven
by a local pension fund that -- projections warn -- could be out
of money shortly, at current payment rates.  The operating budget
reductions are to bring spending in line with income now and in
the future.

According to the report, lawyers for the unions representing
police, firefighters and municipal employees, and the public
safety retirees, argue Mr. Flanders may not have the authority to
void existing union contracts, as he did in filing his bankruptcy
petition with the court Aug. 1. Briefs on that issue are to be
filed by Sept. 16.

The Providence Journal also reports that figures compiled last
week by Governor Chafee's office showed that, as of Monday, over
the past 13 months, the state had paid $1.1 million in legal fees
and payments to the receivers since assuming control of the city.
That came after the City Council and Mayor Charles D. Moreau tried
to file for state bankruptcy in May 2010, claiming the city was
insolvent.

The Providence Journal relates the $1.1 million includes $197,289
for work done from July 2010 to February 2011 by the first
receiver, retired Superior Court judge Mark A. Pfeiffer and,
through the previous week, $150,207 in pay to Mr. Flanders, who
served on the state Supreme Court and was appointed receiver by
Gov. Chafee at the end of Mr. Pfeiffer's term.

The report says most of the remainder, $716,011, went to the two
law firms that have been handling the legal work on the case --
Orson and Brusini and Edwards, Angell, Palmer and Dodge.  It
didn't include the salaries of state employees from agencies that
include the Governor's Office of Economic Recovery and Investment,
the Department of Administration and the Department of Revenue who
have been assigned to work in various positions in Central Falls
government at various times over the past year.

The report also notes $295,030 of the state legal expenses through
the prior week -- 41% of total -- resulted from a defense of the
receivership law passed by the General Assembly in June 2010.  Mr.
Moreau and the City Council, who were stripped of their governing
authority by the new law, challenged it in Superior Court, and
lost.  An appeal to the state Supreme Court also failed.  Both
courts ruled the receivership law constitutional.

                        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.  The
Central Falls receivership, the state's first, has left the mayor
and council without any power to govern.

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


CENTRAL PACIFIC FINANCIAL: Reports $8.2MM Income in 2nd Quarter
---------------------------------------------------------------
Central Pacific Financial Corp. filed its quarterly report on Form
10-Q, reporting net income of $8.21 million on $28.98 million of
net interest income for the three months ended June 30, 2011,
compared with a net loss of $16.10 million on $29.20 million of
net interest income for the same period last year.

Provision for loan and lease losses was a credit of $8.78 million
during the second quarter of 2011, compared to a charge of
$20.41 million in the second quarter of 2010.

The Company reported net income of $12.85 million on
$57.18 million of net interest income for the six months ended
June 30, 2011, compared with a net loss of $176.32 million on
$64.27 million of net interest income for the same period last
year.

Provision for loan and lease losses was a credit of $10.36 million
during the first six months quarter of 2011, compared to a charge
of $79.25 million in the first six months of 2010.

The Company and its subsidiaries' consolidated balance sheet at
June 30, 2011, showed $4.132 billion in total assets,
$3.698 billion in total liabilities, and total equity of
$433.77 million.  Total equity was $76.06 million at Dec. 31,
2010.

A copy of the Form 10-Q is available at http://is.gd/5HNOyv

                         Going Concern

As reported in the TCR on Feb. 15, 2011, KPMG LLP, in Honolulu,
Hawaii, expressed substantial doubt about the Company's ability to
continue as a going concern, following the Company's 2010 results.
The independent auditors noted that the Company entered into a
consent order dated Dec. 8, 2009, with its primary banking
regulators that among other things restricts certain operations
and requires the Company to increase its leverage and total risk-
based capital ratios to at least 10% and 12%, respectively, by
March 31, 2010, and maintain such levels thereafter.

Since the filing of its 2010 Form 10-K, the Company has completed
a number of significant milestones as part of its recovery plan,
including the completion of a $325 million capital raise in
February 2011 and a $20 million common stock rights offering.
Upon completion of these milestones, there is no longer
substantial doubt about the Company's ability to continue as a
going concern.

                About Central Pacific Financial

Based in Honolulu, Hawaii, Central Pacific Financial Corp. (NYSE:
CPF) -- http://www.centralpacificbank.com/-- is the parent
company of Central Pacific Bank, a full-service commercial bank
with 34 bank branches and 120 ATMs located throughout the State of
Hawaii.  The bank also has an office in California.

                          *     *     *

This concludes the Troubled Company Reporter's coverage of Central
Pacific Financial Corp. until facts and circumstances, if any,
emerge that demonstrate financial or operational strain or
difficulty at a level sufficient to warrant renewed coverage.


CHELSEA 17: Case Summary & 5 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Chelsea 17 Properties LLC
        602 N. Roxbury Dr.
        Beverly Hills, CA 90210

Bankruptcy Case No.: 11-44439

Chapter 11 Petition Date: August 12, 2011

Court: United States Bankruptcy Court
       Central District Of California (Los Angeles)

Judge: Vincent P. Zurzolo

Debtor's Counsel: Rachel S. Ruttenberg, Esq.
                  LAW OFFICES OF MARK E. GOODFRIEND
                  16255 Ventura Blvd Ste 205
                  Encino, CA 91436
                  Tel: (818) 783-8866
                  Fax: (818) 783-5445
                  E-mail: rruttenberg@gmail.com

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

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

A list of the Company's five largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/cacb11-44439.pdf

The petition was signed by Jonathan Ledesma, manager.


CINRAM INT'L: Credit Amendment Falls Short of Lasting Relief
------------------------------------------------------------
Dow Jones' DBR Small Cap reports that Cinram International Inc. is
about to get lenders' approval to ease some financial covenants on
its debt, but the measure may not be enough for the maker of pre-
recorded DVDs and CDs to reposition itself in the quickly evolving
digital media industry, some analysts said.

With headquarters in Toronto, Ontario, Canada, Cinram
International Inc. is one of the world's largest independent
manufacturers, replicators and distributors of DVDs and audio CDs.

As reported in the Troubled Company Reporter on Aug. 5, 2011,
Standard & Poor's Ratings Services lowered its long-term corporate
credit rating on Cinram International Inc. to 'CCC' from 'B-'.

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


CLAIRE'S STORES: To Report 7.3% Hike in Second Quarter Sales
------------------------------------------------------------
Claire's Stores, Inc., announced selected preliminary, unaudited
financial results for the fiscal 2011 second quarter, which ended
July 30, 2011.

The Company expects to report net sales of $359 million for the
2011 second quarter, an increase of $24 million, or 7.3%, compared
to the 2010 second quarter.  The increase was attributable to
favorable foreign currency translation effect of the Company's
foreign locations' sales, new store sales, and an increase in
shipments to franchisees, partially offset by a decrease in same
store sales and the effect of store closures.  Net sales would
have increased 1.7% excluding the impact from foreign currency
rate changes.

Adjusted EBITDA in the 2011 second quarter is expected to be
between $56 million and $58 million, compared to $55.3 million in
the 2010 second quarter.

At July 30, 2011, cash and cash equivalents were $211 million,
including restricted cash of $27 million.  The Company's Revolving
Credit Facility continued to be undrawn following the March 2011
paydown from the proceeds of the Senior Secured Second Lien Notes.
In addition, during the 2011 second quarter, the Company paid $21
million to retire $3 million of Senior Notes and $19 million of
Senior Toggle Notes.

A full-text copy of the press release announcing the preliminary
results is available for free at http://is.gd/kHi2Ak

                       About Claire's Stores

Claire's Stores, Inc. -- http://www.clairestores.com/-- operates
as a specialty retailer of fashion accessories and jewelry for
preteens and teenagers, as well as for young adults in North
America and internationally.  It offers jewelry products that
comprise costume jewelry, earrings, and ear piercing services; and
accessories, including fashion accessories, hair ornaments,
handbags, and novelty items.

Based in Pembroke Pines, Florida, Claire's Stores operates under
two brands: Claire's(R), which operates worldwide and Icing(R),
which operates only in North America.  As of Jan. 31, 2009,
Claire's Stores, Inc., operated 2,969 stores in North America and
Europe.  Claire's Stores, Inc., also operates through its
subsidiary, Claire's Nippon, Co., Ltd., 213 stores in Japan as a
50:50 joint venture with AEON, Co., Ltd.  The Company also
franchises 198 stores in the Middle East, Turkey, Russia, South
Africa, Poland and Guatemala.

The Company's balance sheet at April 30, 2011, showed $2.86
billion in total assets, $249.40 million in total current
liabilities, $2.64 billion in long-term debt, and a stockholders'
deficit of $26.70 million.

As reported by the Troubled Company Reporter on March 15, 2011,
Moody's upgraded Claire's Stores, Inc.'s senior secured bank
credit facilities to B3 from Caa1 and its Speculative Grade
Liquidity Rating to SGL-2 from SGL-3.  All other ratings were
affirmed including Claire's Caa2 Corporate Family Rating.  The
rating outlook is positive.

                          *     *     *

Claire's Stores carries 'Caa2' corporate family and probability of
default ratings, with 'positive' outlook, from Moody's Investors
Service, and 'B-' issuer credit ratings, with 'stable' outlook,
from Standard & Poor's.

Moody's Investors Service in December 2010 upgraded Claire's
Stores' ratings, including its Corporate Family Rating and
Probability of Default Rating, to 'Caa2' from 'Caa3'.  The upgrade
reflects a decrease in Claire's probability of default given that
the company can now fully cover its interest expense.  This is due
to earnings improvement from solid comparable store sales growth,
improved merchandise margins, and continued expense discipline.

Claire's Caa2 Probability of Default Rating reflects Moody's view
that although Claire's credit metrics have improved, they remain
very weak as a result of its heavy debt load.  For the twelve
months ending Oct. 30, 2010, Claire's debt to EBITDA was very high
at 9.3 times.


CLEARWIRE CORP: Promotes Erik Prusch to President and CEO
---------------------------------------------------------
Clearwire Corporation announced the promotion of Chief Operating
Officer Erik Prusch to President and Chief Executive Officer.
John Stanton, the company's Chairman and interim CEO, will become
Executive Chairman of the Board of Directors. Both changes are
effective immediately.

"Erik has demonstrated the ability and talent necessary to lead
our organization through one of the most competitive periods in
the mobile broadband industry's short history," said John Stanton.
"I strongly believe that under his guidance our business will
deliver value to shareholders as we continue to grow our business
and leverage our unmatched and unencumbered spectrum advantage."

"My personal commitment to Clearwire remains strong," Stanton
continued.  "Further developing a successful strategic framework
that will allow our business to thrive long-term continues to be
my top priority."

"Since joining Clearwire I have witnessed tremendous growth and
change in the mobile broadband space and I recognize the many
opportunities and challenges that lie ahead," said Erik Prusch.
"John and I, as well as the rest of our senior leadership team,
are focused on successfully executing the critical tasks needed to
grow our business and fully leverage our significant spectrum
assets in order to keep Clearwire on course as a leader in mobile
broadband and the largest 4G provider in the United States."

Prusch joined Clearwire in August 2009 as CFO and led the efforts
to raise over $6 billion in equity and debt to fund the company's
explosive growth.  During his tenure, revenue has increased by 427
percent to an annualized run rate of over $1.2 billion, the
subscriber base has grown by 1,352 percent, and margins have
improved by 80 percentage points through careful expense controls.
He was promoted to COO in March.

Throughout his career he has successfully enabled businesses
through periods of rapid growth, operational scaling and expansion
financing.  Prior to joining Clearwire, Prusch served as President
and CEO of Borland Software, where he also previously served as
CFO, leading the restructuring of the company and returning the
business to profitability.  Prior to Borland, he was Vice
President of Finance at Intuit, CFO of Identix Incorporated and
Vice President and CFO, Finance and Operations at Gateway
Computers, Incorporated.  Prusch began his career at Touche Ross
and PepsiCo.  He holds a B.A. from Yale University, and earned an
M.B.A. from the Stern School of Business at New York University.

Pursuant to an offer letter, Mr. Prusch's initial salary will be
$700,000, with a target bonus of $700,000, and an equity grant of
666,667 restricted stock units, convertible into shares of Class A
common stock of the Company.

                    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.

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.

                         *     *     *

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 BANCGROUP: Execs, Investors Settle Fraud Suit for $10.5MM
------------------------------------------------------------------
Carolina Bolado at Bankruptcy Law360 reports that Colonial
BancGroup Inc. shareholders reached a $10.5 million settlement in
a putative class action Friday in Alabama to resolve claims the
company's executives engineered a multipart fraud that gutted
investors and drove the company into bankruptcy.

                    About The Colonial BancGroup

Headquartered in Montgomery, Alabama, The Colonial BancGroup Inc.
(NYSE: CNB) owned Colonial Bank, N.A, its banking subsidiary.
Colonial Bank -- http://www.colonialbank.com/-- operated 354
branches in Florida, Alabama, Georgia, Nevada and Texas with over
$26 billion in assets.  On Aug. 14, 2009, Colonial Bank was seized
by regulators and the Federal Deposit Insurance Corporation was
named receiver.  The FDIC sold most of the assets to Branch
Banking and Trust, Winston-Salem, North Carolina.  BB&T acquired
$22 billion in assets and assumed $20 billion in deposits of the
Bank.

The Colonial BancGroup filed for Chapter 11 bankruptcy protection
(Bankr. M.D. Ala. Case No. 09-32303) on Aug. 25, 2009.  W. Clark
Watson, Esq., at Balch & Bingham LLP, and Rufus T. Dorsey IV,
Esq., at Parker Hudson Rainer & Dobbs LLP, serve as counsel to
the Debtor.  The Debtor disclosed $45 million in total assets and
$380 million in total liabilities as of the Petition Date.

In September 2009, an Official Committee of Unsecured Creditors
was formed consisting of three members, Fine Geddie & Associates,
The Bank of New York Trust Company, N.A., and U.S. Bank National
Association.  Burr & Forman LLP and Schulte Roth & Zabel LLP serve
as co-counsel for the Committee.

Colonial Brokerage, a wholly owned subsidiary of Colonial
BancGroup, filed for Chapter 7 protection with the U.S. Bankruptcy
Court in the Middle District of Alabama in June 2010.  Susan S.
DePaola serves as Chapter 7 trustee.

In June 2011, the bankruptcy judge signed a confirmation order
approving Colonial BancGroup's Chapter 11 plan over objection from
the Federal Deposit Insurance Corp.


COMSTOCK MINING: Incurs $4.7-Mil. Second Quarter Net Loss
---------------------------------------------------------
Comstock Mining Inc. said that net loss for the second quarter
ended June 30, 2011 was $4.7 million, resulting primarily from
operating expenses of $5.4 million, mainly for development
drilling and general and administrative expenses, offset by a $0.5
million non-cash gain resulting from a change in the fair value of
the contingent dividend obligation.

Net cash used by operating activities in Q2 2011 was $3.3 million,
versus $1.9 million in Q2 2010.

Total debt at June 30, 2011, was $1.0 million as compared to total
debt at year-end 2010 of $1.5 million; all relating to mortgage
obligations.

Cash, cash equivalents and investments at June 30, 2011, were
$21.5 million compared to $29.8 million at Dec. 31, 2010.

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

                      About Comstock Mining

Virginia City, Nev.-based Comstock Mining Inc. is a Nevada-based,
gold and silver mining company with extensive, contiguous property
in the historic Comstock district.  The Company began acquiring
properties in the Comstock in 2003.  Since then, the Company has
consolidated a substantial portion of the Comstock district,
secured permits, built an infrastructure and brought the
exploration project into test mining production.  The Company
continues acquiring additional properties in the Comstock
district, expanding its footprint and creating opportunities for
exploration and mining.  The goal of the Company's strategic plan
is to deliver stockholder value by validating qualified resources
(measured and indicated) and reserves (probable and proven) of
3,250,000 gold equivalent ounces by 2013, and commencing
commercial mining and processing operations by 2011, with annual
production rates of 20,000 gold equivalent ounces.

The Company reported a net loss of $60.32 million for the year
ended Dec. 31, 2010, compared with a net loss of $6.06 million
during the prior year.  The Company had no revenues from
operations for the years ended Dec. 31, 2010 and 2009.

The Company's balance sheet at March 31, 2011, showed
$33.17 million in total assets, $10.89 million in total
liabilities, and $22.28 million in total stockholders' equity.


COMSTOCK MINING: Winfiled Group OKs Registration Filing Extension
-----------------------------------------------------------------
Comstock Mining Inc. entered into a "consent" document with John
V. Winfield, The InterGroup Corporation, Portsmouth Square Inc.,
Santa Fe Financial Corporation and DWC Resources, Inc.  The
Company and the Winfield Group agreed to extend the due dates by
which a registration statement will be filed with respect to
common shares underlying convertible preferred stock of the
Company held by the Winfield Group, and waiving certain rights
related thereto.  A full-text copy of the Consent is available for
free at http://is.gd/BbA8zT

                       About Comstock Mining

Virginia City, Nev.-based Comstock Mining Inc. is a Nevada-based,
gold and silver mining company with extensive, contiguous property
in the historic Comstock district.

The Company reported a net loss of $60.32 million for the year
ended Dec. 31, 2010, compared with a net loss of $6.06 million
during the prior year.  The Company had no revenues from
operations for the years ended Dec. 31, 2010 and 2009.

The Company's balance sheet at March 31, 2011, showed
$33.17 million in total assets, $10.89 million in total
liabilities, and $22.28 million in total stockholders' equity.


CONTECH CONSTRUCTION: Bank Debt Trades at 23% Off
-------------------------------------------------
Participations in a syndicated loan under which Contech
Construction Products, Inc., is a borrower traded in the secondary
market at 77.20 cents-on-the-dollar during the week ended Friday,
Aug. 12, 2011, a drop of 4.71 percentage points from the previous
week according to data compiled by Loan Pricing Corp. and reported
in The Wall Street Journal.  The Company pays 200 basis points
above LIBOR to borrow under the facility.  The bank loan matures
on Jan. 31, 2013, and carries Moody's 'Caa2' rating and Standard &
Poor's 'B' rating.  The loan is one of the biggest gainers and
losers among 72 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.

                    About Contech Construction

Headquartered in West Chester, Ohio, Contech Construction
Products, Inc. -- http://www.contech-cpi.com/-- makes,
distributes, and installs civil engineering products related to
environmental storm water, drainage, bridges, walls, and earth
stabilization.  Contech has dealers, distributors, or
manufacturing plants in all 50 U.S. states and a national sales
organization of more than 350 people.  Investment firm Apax
Partners owns Contech.

As reported by the Troubled Company Reporter on June 6, 2011,
Standard & Poor's revised its outlook on West Chester, Ohio-based
Contech Construction Products, Inc., to negative from stable.  "At
the same time, we affirmed our ratings on Contech, including the
'B-' corporate credit rating," S&P stated.

"The outlook revision reflects our assessment of Contech's limited
near-term liquidity due to higher-than-expected borrowings on its
revolving credit facility to support higher steel costs," said
Standard & Poor's credit analyst Thomas Nadramia.  "The outlook
revision also reflects that Contech's operating environment is
likely to remain difficult in the near term, resulting in reduced
cushion in the company's minimum EBITDA covenant which governs its
revolving credit facility and term loan.  The minimum EBITDA
requirement continues to step up over the next several quarters.
However, our current expectation is that liquidity will likely
remain at, or near, current reduced levels in the next two
quarters until seasonal cash collections begin in the last quarter
of 2011."


CORD BLOOD: Incurs $1 Million Net Loss in Second Quarter
--------------------------------------------------------
Cord Blood America, Inc. reported a net loss of $1.01 million on
$1.43 million of revenue for the three months ended June 30, 2011,
compared with a net loss of $1.57 million on $951,561 of revenue
for the same period during the prior year.

The Company also reported a net loss of $2.85 million on
$2.88 million of revenue for the six months ended June 30, 2011,
compared with a net loss of $4.15 million on $1.79 million of
revenue for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $7.56 million
in total assets, $8 million in total liabilities, and a $441,482
total stockholders' deficit.

A full-text copy of the Form 10-Q filed with the U.S. Securities
and Exchange Commission is available for free at:

                        http://is.gd/7USBuV

                      About Cord Blood America

Based in Las Vegas, Nevada, Cord Blood America, Inc., is primarily
a holding company whose subsidiaries include Cord Partners, Inc.,
CorCell Co. Inc., CorCell Ltd.; CBA Professional Services, Inc.
D/B/A BodyCells, Inc.; CBA Properties, Inc.; and Career Channel
Inc, D/B/A Rainmakers International.  Cord specializes in
providing private cord blood stem cell preservation services to
families.  BodyCells is a developmental stage company and intends
to be in the business of collecting, processing and preserving
peripheral blood and adipose tissue stem cells allowing
individuals to privately preserve their stem cells for potential
future use in stem cell therapy.  Properties was formed to hold
the corporate trademarks and other intellectual property of CBAI.
Rain specializes in creating direct response television and radio
advertising campaigns, including media placement and commercial
production.

The Company reported a net loss attributable to Cord Blood America
of $8.09 million on $4.13 million of revenue for the year ended
Dec. 31, 2010, compared with a net loss attributable to Cord Blood
of $9.77 million on $3.24 million of revenue during the prior
year.

As reported by the TCR on April 5, 2011, Rose, Snyder & Jacobs, in
Encino, Calif., expressed substantial doubt about the Company's
ability to continue as a going concern. The independent auditors
noted that the Company has sustained recurring operating losses,
continues to consume cash in operating activities, and has
insufficient working capital and an accumulated deficit at
Dec. 31, 2010.


CORDIA IP: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Cordia IP Corp.
        222 Purchase Street, #206
        Rye, NY 10580

Bankruptcy Case No.: 11-23631

Chapter 11 Petition Date: August 12, 2011

Court: United States Bankruptcy Court
       Southern District of New York (White Plains)

Judge: Robert D. Drain

Debtor's Counsel: Gerald Hecht, Esq.
                  GERALD HECHT & ASSOCIATES
                  30 Main Street, Suite 202
                  Danbury, CT 06810
                  Tel: (203)792-3203

Scheduled Assets: $6,869,367

Scheduled Debts: $14,912,887

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/nysb11-23631.pdf

The petition was signed by Al Minella, president/director.

Affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Cordia Communications Corp.            11-06493   05/01/11
Cordia Communications Corp.
  of Virginia                          11-06494   05/01/11
MyTel Co., Inc.                        11-06495   05/01/11
Midwest Marketing Group, Inc.          11-06496   05/01/11
Northstar Telecom, Inc.                11-06497   05/01/11


COUGAR OIL: Posts C$1.5 Million Net Loss in 2nd Quarter
-------------------------------------------------------
Cougar Oil and Gas Canada, Inc., filed its quarterly report on
Form 10-Q, reporting a net loss of C$1.53 million on C$536,578 of
oil & gas sales for the three months ended June 30, 2011, compared
with a net loss of C$384,347 on C$968,262 of oil & gas sales for
the same period last year.

The Company reported a net loss of C$3.38 million on
C$1.24 million of oil & gas sales for the six months ended
June 30, 2011, compared with a net loss of C$684,294 on
C$1.72 million of oil & gas sales for the same period last year.

The Company's balance sheet at June 30, 2011, showed
C$14.33 million in total assets, C$14.07 million in total
liabilities, and stockholders' equity of C$262,937.

RBSM, LLP, in New York, expressed substantial doubt about Cougar
Oil and Gas Canada's ability to continue as a going concern,
following the Company's 2010 results.  The independent auditors
noted that the Company has suffered recurring losses since its
inception and has a working capital deficiency.

A copy of the Company's interim financial statements for the 2nd
quarter ended June 30, 2011, is available at http://is.gd/1qwiea

Headquartered in Calgary, Canada, Cougar Oil and Gas Canada, Inc.,
formerly Ore-More Resources, Inc., was incorporated under the laws
of the Province of Alberta, Canada on June 20, 2007.  The
Company's  principal activity is in the exploration, development,
production and sale of oil and natural gas.  The Company's main
operations are currently in the Alberta and British Columbia
provinces of Canada.


CROSS BORDER: Stark Quits as CFO; Ex-TXCO Stephenson Takes Over
---------------------------------------------------------------
Mark Stark resigned from serving as Cross Border Resources, Inc.'s
principal financial officer, secretary and treasurer to pursue
other business interests.

On Aug. 10, 2011, Nancy S. Stephenson was appointed as the
Company's Principal Accounting Officer, Secretary and Treasurer.
Ms. Stephenson is 57 years old and brings to the Company over
thirty years of accounting experience, primarily in publicly
traded companies in the energy business.  From March 2003 to
February 2010, she served as Compliance Reporting Manager for TXCO
Resources Inc., a public company not affiliated with Cross Border
Resources, Inc.  As Compliance Reporting Manager, she assisted
with the preparation of financial statements and was responsible
for TXCO Resources, Inc.'s periodic reporting compliance with the
Securities and Exchange Commission.  Since March 2010, she has
provided consulting services relating to periodic reporting with
the SEC on a project basis for various companies.  Ms. Stephenson
holds a BBA in Accounting from the University of Houston and is a
Certified Public Accountant.

The Company will pay Ms. Stephenson a monthly salary of $10,000
per month.  Ms. Stephenson will receive no other cash or noncash
compensation and no employee benefits other than four weeks of
paid vacation annually.  Ms. Stephenson's employment is at-will
and not for any specified term.  Ms. Stephenson began providing
consulting services to the Company in May 2011.  From that date
until her appointment on Aug. 10, 2011, the Company has paid or
owes consulting fees to Ms. Stephenson equal to approximately
$16,000 in the aggregate.

                   About Cross Border Resources

Cross Border Resources, Inc. f/k/a Doral Energy Corp. (OTC BB:
DRLY) -- http://www.DoralEnergy.com/-- is a licensed oil and gas
operator in the state of New Mexico.  The Company is headquartered
in Midland, Texas.

The Company's balance sheet at March 31, 2011, showed
$24.91 million in total assets, $11.98 million in total
liabilities, and $12.93 million in total stockholders' equity.

As reported in the Troubled Company Reporter on Nov. 23, 2010,
MaloneBailey, LLP, in Houston, Texas, expressed substantial doubt
about Doral Energy's ability to continue as a going concern
following the Company's results for the fiscal year ended July 31,
2010.  The independent auditors noted that the Company has
negative working capital and recurring losses from operations.


CROWN EQUITY: Reports $1.5 Million Net Income in 2nd Quarter
------------------------------------------------------------
Crown Equity Holdings Inc. filed its quarterly report on Form 10-
Q, reporting net income of $1.5 million on $1.0 million of revenue
for the three months ended June 30, 2011, compared with a net loss
of $74,612 on $349,212 of revenue for the same period last year.

The Company reported net income of $29,775 on $1.4 million of
revenue for the six months ended June 30, 2011, compared with a
net loss of $201,658 on $673,988 of revenue for the same period
last year.

The net income for the three and six month periods ending June 30,
2011, consisted of operating income of $609,587 and $166,448,
respectively.  This compared to operating losses of $35,216 and
$26,739 for the same periods in 2010.

The Company incurred unrealized gains in the three months ending
June 30, 2011, of $924,938 compared to unrealized losses of
$35,170 for the three month in 2010.  The Company incurred
unrealized losses of $112,866 for the six months ended June 30,
2011, and $169,195 for the three month period in 2010.

The Company's balance sheet at June 30, 2011, showed $2.9 million
in total assets, $601,382 in total liabilities, and stockholders'
equity of $2.3 million.

MaloneBailey, LLP, in Houston, expressed substantial doubt about
Crown Equity's ability to continue as a going concern, following
the Company's 2010 results.  The independent auditors noted that
the Company has historically suffered losses from operations.

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

Las Vegas, Nev.-based Crown Equity Holdings Inc. (OTC BB: CRWE)
-- http://www.crownequityholdings.com/-- was incorporated in
August 1995 in Nevada.  The Company provides various consulting
services to companies and individuals dealing with corporate
structure and operations globally.  The Company also provides
public relations and news dissemination for publicly and privately
held companies.


CROWNROCK: Moody's Assigns Caa2 Rating to $150MM Notes Offering
---------------------------------------------------------------
Moody's investors Service assigned a Caa2 rating to CrownRock,
L.P.'s proposed $150 million offering of senior unsecured notes.
Its non-operating financing subsidiary CrownRock Finance, Inc. is
a co-issuer of these notes. Moody's also assigned a Caa1 Corporate
Family Rating (CFR) and a Caa1 Probability of Default (PDR) rating
to the company. The rating outlook is stable.

RATING RATIONALE

"CrownRock's Caa1 CFR rating is restrained by its small, highly
concentrated reserves compared to similarly rated peers, but also
takes into account the rising production from its acreage in the
oil-rich Wolfberry play," says Moody's vice president Mihoko
Manabe.

The company is a private exploration and production (E&P) company,
jointly owned by Lime Rock Partners, a private equity firm, and EQ
Holdings, controlled by members of senior management and
employees. CrownRock's operations are concentrated in the Permian
Basin in West Texas (about 80% of production and 90% of reserves),
mostly in the Wolfberry oil shale formation. The rest of its
production and reserves are located in the Paradox Basin in Utah
and San Juan Basin in New Mexico.

CrownRock is one of the smallest E&P companies that Moody's rates,
with proven reserves of 39.5 million barrels-of-oil-equivalent
(BOE) as of July 1, 2011. A notably high proportion (74%) of that
is undeveloped, requiring an estimated $377 million of capital
investment to bring those reserves to production. Its low base of
production (average daily production was roughly 3,017 BOE per day
in the June 2011 quarter) is an indicator of the company's short
operating history and early stage in its development. CrownRock
currently benefits from being weighted toward crude oil, which
comprises about two-thirds of both its proven reserves and
production.

CrownRock will apply the proceeds from this debut debt offering to
accelerate its drilling program in the Wolfberry play. It could
also acquire more acreage in the area. This debt as of July 1,
2011, however, is substantial based on its very low rate of
current production (about $50,311 debt-to-average daily
production, among the highest in Moody's peer group), and the
rating is based on that leverage declining rapidly as production
rises as a result of this investment.

The company has an aggressive plan to more than double production
from 1,900 BOE as of March 31, 2011 by end of 2012. If the company
meets its forecast, the increase in production would more than
halve its debt-to-average daily production to below $40,000 to
fall more in line with similarly rated peers.

While CrownRock plans to outspend its cash flows at least through
2012, robust realizations in the prevailing strong oil price
environment, together with cash from this debt issue is expected
to provide adequate liquidity for the drilling program the company
currently contemplates during this period. The company also has a
committed credit facility with a $57 million borrowing base.
CrownRock has hedged a sizable portion of its forecasted proved
production below current spot prices, but its cash margins should
still be sufficient to cover its full-cycle costs.

The stable outlook is based on CrownRock having adequate liquidity
over the next 12 to 18 months. The stable outlook is also subject
to the company rapidly improving its scale and leverage metrics
from its accelerated drilling program for its Wolfberry acreage.

CrownRock could be upgraded if rising production lowers debt-to-
average daily production to below $30,000 BOE and proved developed
reserves grow to exceed 30 million BOE.

Conversely, CrownRock could be downgraded if the company fails to
maintain adequate liquidity and falls short on its drilling
program so that its debt-to-average daily production remains
around $50,000 BOE by year-end 2012.

The rating for the senior notes reflects both the overall
probability of default of the company, to which Moody's assigns a
PDR of Caa1, and a loss given default of LGD 4, 63%. In accordance
with Moody's Loss Given Default (LGD) Methodology, the Caa2 rating
of the senior unsecured notes reflects their junior position in
CrownRock's capital structure to borrowings under the senior
secured credit facility.

This is the first time that Moody's has rated CrownRock's debt
obligations.

The principal methodology used in rating CrownRock was the
Independent Exploration and Production (E&P) Industry Methodology,
published December 2008.

Headquartered in Midland, Texas, CrownRock, L.P. is a privately
held limited partnership that engages in the exploration and
production of crude oil and natural gas in Texas, New Mexico, and
Utah.


CUI GLOBAL: Incurs $327,000 Net Loss in Second Quarter
------------------------------------------------------
CUI Global, Inc., formerly known as Waytronx, Inc., filed with the
U.S. Securities and Exchange Commission its quarterly report on
Form 10-Q reporting a consolidated net loss of $327,405 on
$9.87 million of total revenue for the three months ended June 30,
2011, compared with a consolidated net loss of $2.18 million on
$9.99 million of total revenue for the same period during the
prior year.

The Company also reported a consolidated net loss of $246,362 on
$19.42 million of total revenue for the six months ended June 30,
2011, compared with a consolidated net loss of $3.35 million on
$16.52 million of total revenue for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $35.68
million in total assets, $23.75 million in total liabilities,
$12.20 million in total stockholders' equity, and a $278,472
noncontrolling interest.

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

                        http://is.gd/hfGoq9

                         About CUI Global

Tualatin, Ore.-based CUI Global, Inc., formerly known as Waytronx,
Inc., is a platform company dedicated to maximizing shareholder
value through the acquisition, development and commercialization
of new, innovative technologies.

As reported by the TCR on April 8, 2011, Webb & Company, in
Boynton Beach, Florida, expressed substantial doubt about CUI
Global's ability to continue as a going concern.  The independent
auditors noted that the Company has a net loss of $7,015,896, a
working capital deficiency of $675,936 and an accumulated deficit
of $73,596,738 at Dec. 31, 2010.

The Company reported a net loss of $7.5 million on $40.9 million
of revenues for 2010, compared with a net loss of $16.0 million on
$28.9 million of revenues for 2009.


CUMULUS MEDIA: Stephen Schwarzman Owns 9.2% of Class A Shares
-------------------------------------------------------------
In a Schedule 13D filing with the U.S. Securities and Exchange
Commission, Stephen A. Schwarzman and his affiliates disclosed
that they beneficially own 3,315,238 shares of Class A common
stock of Cumulus Media Inc. representing 9.2% of the shares
outstanding.  A full-text copy of the regulatory filing is
available for free at http://is.gd/9i7gpg

                        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.


CURSTIS NELSON: Creditors Oppose Plan, Debt Discharge
-----------------------------------------------------
Jim Hammerand at Minneapolis/St. Paul Business Journal reports
that Curtis Carlson Nelson's creditors are accusing him of fraud
as the court-appointed trustee in his bankruptcy case seeks to
liquidate his assets.

According to the report, the creditors hope their claims will
convince a bankruptcy judge to saddle Nelson with his debts.

Facing liabilities of $41.25 million, Mr. Nelson has no job, no
source of income and has been cut off from "substantial" family
trusts, U.S. Trustee's Office attorney Michael Fadlovich said in a
filing that seeks to sell Nelson's assets to pay creditors,
according to the report.

The report adds that Edina-based Crown Bank was the first to ask
U.S. Bankruptcy Judge Robert Kressel not to discharge Mr. Nelson's
debt.  The bank, which secured a $3.8 million judgment against
Nelson, argues that the law doesn't allow Nelson's fraudulently
incurred debt to be forgiven through bankruptcy proceedings.
Crown has alleged that Nelson overstated his wealth to obtain
loans from the bank.

Three other creditors, the Business Journal relates, have followed
the bank's lead, all alleging that Nelson deceived them and
shouldn't have his debts forgiven.

Minneapolis investors Jordan Family LLC, according to the report,
said Mr. Nelson provided false financial statements and inflated
the value of loan collateral by millions of dollars.  Minneapolis-
based Fulcrum Consulting accused Nelson of misrepresenting his
company's financial condition and writing bad checks.

Mr. Nelson's plan for reorganization is due to the court on
Sept. 22, 2011.  A hearing on the liquidation request is scheduled
for the week after that.

                        About Curtis Nelson

Curtis Nelson filed a Chapter 11 petition (Bankr. D. Minn. Case
No. 11-43113) on May 2, 2011, disclosing assets of $4.24 million,
and liabilities of $41.25 million.  He has tapped Thomas G.
Wallrich, Esq., at Hinshaw & Culbertson LLP, as counsel in the
Chapter 11 case.

The Debtor was hospitalized with what police called a mental
health crisis in March 2011.  That followed a $3.8 million
judgment entered against Mr. Nelson for money owed to Edina-based
Crown Bank and the bankruptcy of his automotive marketing company.
Mr. Nelson also owes $7 million to a trust in the name of his
grandfather and Carlson Cos. founder, Curtis L. Carlson, and $3.05
million to JPMorgan Chase Bank for the mortgage on two Minnetonka
properties.

Mr. Nelson owns Curtis Co. One LLC, subsidiaries of which include
Curt Co. Investments LLC, CCN and MAN Properties LLC, Curt Co.
Customer LLC, Curt Co. Real Estate LLC, Curt Co. Condos LLC, Curt
Co. Commodities LLC, Moccia Inc., Exponential Fund One LP,
Exponential Funds One LLC and 72.55% of Visible Customer Holdings
LLC.


DAEWOO MOTOR: Ariz. Court Rules in Lawsuit v. Korean Parent
-----------------------------------------------------------
District Judge Robert E. Jones denied the defendant's motion for
summary judgment in the lawsuit, DAEWOO MOTOR AMERICA
INCORPORATED, a Delaware corporation, named as Cross Claimant,
Plaintiff, v. DAEWOO MOTOR COMPANY LIMITED, a foreign entity,
named as Cross Defendant, Defendant, No. 2:10-cv-00653 (D. Ariz.).
Daewoo Motor America, Inc., sued Daewoo Motor Company, Ltd.,
seeking, in essence, a declaration that DWMC must indemnify DMA
for all product liability expenses, including attorney fees and
costs, that DMA incurred defending Resende v. The Cooper Tire &
Motor Company, et al., Maricopa County Superior Court Case No.
CV2004-009382.  DMA originally asserted the cross-claim in
Resende; after DWMC settled that action, the cross-claim proceeded
separately and on March 24, 2010, DWMC removed the action to
federal court.  DWMC sought summary judgment arguing DMA's claims
are barred by the doctrine of claim preclusion, or res judicata,
based on the Findings of Fact and Conclusions of Law and the
Judgment issued in DMA's Chapter 11 bankruptcy case in the United
States Bankruptcy Court, Central District of California, Case No.
02-24411 (adversary Case No. 2:03-ap-0-2155-BB).

A copy of Judge Jones' Aug. 10, 2011 Opinion and Order is
available at http://is.gd/XOda13from Leagle.com.

Daewoo Motor America is represented in the lawsuit by:

          Frank M. Fox, Esq.
          Thomas C. Hall, Esq.
          CAVANAGH LAW FIRM PA
          Phoenix, AZ
          Tel: 602-322-4063
          Fax: 602-322-4100
          E-mail: ffox@cavanaghlaw.com
                  thall@cavanaghlaw.com

               - and -

          T. Steven Har, Esq.
          DUANE MORRIS LLP
          1540 Broadway
          New York, NY 10036-4086
          Tel: 212-692-1055
          Fax: 212-202-6040
          E-mail: TSHar@duanemorris.com

Attorneys for Daewoo Motor Company Limited are:

          Larry R. Schmadeka, Esq.
          LEE HONG DEGERMAN KANG & WAIMEY PC
          660 S. Figueroa Street, Suite 2300
          Los Angeles, CA 90017
          Tel: (213) 623-2221
          E-mail: lschmadeka@lhlaw.com

               - and -

          Linda H. Mullany, Esq.
          Timothy I. McCulloch, Esq.
          Sean M. Carroll, Esq.
          101 W. Broadway, Suite 2000
          San Diego, CA  92101
          GORDON & REES LLP
          Phoenix, AZ 85003-1736
          Tel: (619) 230-7412
          E-mail: lmullany@gordonrees.com

Daewoo Motor America, Inc., sought chapter 11 protection (Bankr.
C.D. Calif. Case No. 02-24411) on May 16, 2002, listing more than
$100 million in debts and assets.  Lawyers at Stutman Treister &
Glatt APC, served as bankruptcy counsel.  The Honorable Judge
Sheri Bluebond of the U.S. Bankruptcy Court for the Central
District of California, Los Angeles Division, presided over the
bankruptcy proceedings.  The Bankruptcy Court confirmed the
company's reorganization plan, which became effective Oct. 16,
2003.


DAIS ANALYTIC: Reports $791,000 Net Income in Second Quarter
------------------------------------------------------------
Dais Analytic Corporation filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting
net income of $791,585 on $1.12 million of revenue for the three
months ended June 30, 2011, compared with net income of
$1.21 million on $1.01 million of revenue for the same period
during the prior year.

The Company also reported a net loss of $2.49 million on
$1.98 million of revenue for the six months ended June 30, 2011,
compared with a net loss of $817,652 on $1.41 million of revenue
for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $2.97 million
in total assets, $9.29 million in total liabilities and a $6.32
million total stockholders' deficit.

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

                       http://is.gd/lF9Gvw

                       About Dais Analytic

Odessa, Fla.-based Dais Analytic Corporation has developed and
patented a nano-structure polymer technology, which is being
commercialized in products based on the functionality of these
materials.  The initial product focus of the Company is ConsERV,
an energy recovery ventilator.  The Company also has new product
applications in various developmental stages.

The Company reported a net loss of $1.43 million on $3.34 million
of revenue for the year ended Dec. 31, 2010, compared with a net
loss of $7.12 million on $1.53 million of revenue during the prior
year.

Cross, Fernandez & Riley LLP, in Orlando, Fla., expressed
substantial doubt about the Company's ability to continue as a
going concern, following the Company's 2010 financial results.
The independent auditors noted that the Company has incurred
significant losses since inception and has a working capital
deficit and stockholders' deficit of $2,861,448 and $6,722,092 at
Dec. 31, 2010.


DELTA PETROLEUM: To Hold "Say on Pay Vote" Annually
---------------------------------------------------
At Delta Petroleum Corporation's annual meeting of stockholders
held on July 12, 2011, Delta's stockholders voted on, among other
matters, a proposal on the frequency of future shareholder
advisory votes regarding compensation awarded to Delta's named
executive officers.  As previously reported the highest number of
votes cast on the proposal, as well as a majority of the votes
cast on the proposal, approved the frequency of the advisory
stockholder vote to be annually.  In light of these voting results
and other factors considered by the board, Delta's board of
directors has determined that Delta will conduct future
shareholder advisory votes regarding compensation awarded to its
named executive officers on an annual basis.  The next required
shareholder advisory vote on the frequency of future shareholder
advisory votes regarding compensation awarded to named executive
officers will be conducted at Delta's 2014 Annual Meeting of
Stockholders.

                    About Delta Petroleum Corp

Delta Petroleum Corporation -- http://www.deltapetro.com/-- is an
oil and gas exploration and development company based in Denver,
Colorado.  The Company's core area of operation is in the Rocky
Mountain region, where the majority of its proved reserves,
production and long-term growth prospects are located.  Its common
stock is listed on the NASDAQ Capital Market System under the
symbol "DPTR."

The Company reported a net loss of $30.26 million on
$23.05 million of total revenue for the three months ended
March 31, 2011, compared with a net loss of $15.99 million on
$29.17 million of total revenue for the same period during the
prior year.

The Company's balance sheet at June 30, 2011, showed $975.84
million in total assets, $489.14 million in total liabilities,
current and long-term, and $486.70 million in total equity.

As reported by the TCR on March 18, 2011, KPMG LLP, in Denver,
Colorado, noted that due to continued losses and limited borrowing
capacity the Company is evaluating sources of capital to fund the
Company's near term debt obligations.  "There can be no assurances
that actions undertaken will be sufficient to repay obligations
under the credit facility when due, which raises substantial doubt
about the Company's ability to continue as a going concern."


DEX MEDIA WEST: Bank Debt Trades at 22% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Dex Media West LLC
is a borrower traded in the secondary market at 78.40 cents-on-
the-dollar during the week ended Friday, Aug. 12, 2011, a drop of
3.24 percentage points from the previous week according to data
compiled by Loan Pricing Corp. and reported in The Wall Street
Journal.  The Company pays 450 basis points above LIBOR to borrow
under the facility.  The bank loan matures on Oct. 24, 2014.  The
loan is one of the biggest gainers and losers among 72 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

                       About Dex Media West

Dex Media West LLC is a subsidiary of Dex Media West, Inc., and an
indirect wholly owned subsidiary of Dex Media, Inc.  Dex Media is
a direct wholly owned subsidiary of R.H. Donnelley Corporation.
Dex Media West is the exclusive publisher of the official yellow
pages and white pages directories for Qwest Corporation, the local
exchange carrier of Qwest Communications International, Inc., in
Arizona, Idaho, Montana, Oregon, Utah, Washington, and Wyoming.

R.H. Donnelley Corp. and 19 of its affiliates, including Dex Media
East LLC, Dex Media West LLC and Dex Media, Inc., filed for
Chapter 11 protection (Bank. D. Del. Case No. 09-11833 through 09-
11852) on May 28, 2009, after missing a $55 million interest
payment on its senior unsecured notes due April 15, 2009.  James
F. Conlan, Esq., Larry J. Nyhan, Esq., Jeffrey C. Steen, Esq.,
Jeffrey E. Bjork, Esq., and Peter K. Booth, Esq., at Sidley Austin
LLP, in Chicago, Illinois, served as lead bankruptcy counsel to
the Debtors.  Attorneys at Young, Conaway, Stargatt & Taylor LLP,
in Wilmington, Delaware, served as local counsel.  Deloitte
Financial Advisory Services LLP was the financial advisor and
Lazard Freres & Co. LLC was the investment banker.  The Garden
City Group, Inc., was claims and noticing agent.  The Official
Committee of Unsecured Creditors tapped Ropes & Gray LLP as its
counsel, Cozen O'Connor as Delaware bankruptcy co-counsel, J.H.
Cohn LLP as its financial advisor and forensic accountant, and The
Blackstone Group, LP, as its financial and restructuring advisor.

The Debtors emerged from Chapter 11 bankruptcy proceedings at the
end of January 2010.


DIABETES AMERICA: Taps Woodrock & Co. as Investment Banker
----------------------------------------------------------
Diabetes America Inc. asks the U.S. Bankruptcy Court for the
Southern District of Texas for permission to employ WoodRock & Co.
as its investment banker to assist the Debtor in its attempts to
explore strategic alternatives in connection with its formulation
of a plan of reorganization-including a sale of the Debtor's
operating assets.

The firm will be paid a one-time nonrefundable financial advisory
services fee of $50,000 in connection with developing the Debtor's
financial memorandum and assisting the Debtor in pursuing
available options.

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

                     About Diabetes America

Houston, Texas-based Diabetes America, Inc., fka Diabetes Centers
of America, Inc., operates a network of 17 centrally-managed
medical clinics that provide comprehensive outpatient medical
care, primarily to patients with Type 1, Type 2 and Gestational
Diabetes.  The company's clinics are located in Texas and Houston
and generate 51,000 patient visits per year.

Diabetes America filed for Chapter 11 bankruptcy protection
(Bankr. S.D. Tex. Case No. 10-41521) on Dec. 21, 2010.  H. Joseph
Acosta, Esq., and Micheal W. Bishop, Esq., at Looper Reed &
McGraw, P.C., in Dallas; and Joshua Walton Wolfshohl, Esq., at
Porter Hedges, L.L.P., in Houston, represent the Debtor as
bankruptcy counsel.  The Debtor estimated its assets and debts at
$10 million to $50 million as of the Petition Date.

Judy A. Robbins, the U.S. Trustee for Region 7, appointed three
members to the Official Committee of Unsecured Creditors in
Diabetes America's Chapter 11 case.  The Committee has tapped
Butler, Snow, O'Mara, Stevens & Cannada, PLLC, as its counsel.


DINEEQUITY INC: Bank Debt Trades at 4% Off in Secondary Market
--------------------------------------------------------------
Participations in a syndicated loan under which DineEquity, Inc.,
is a borrower traded in the secondary market at 96.40 cents-on-
the-dollar during the week ended Friday, Aug. 12, 2011, a drop of
3.43 percentage points from the previous week according to data
compiled by Loan Pricing Corp. and reported in The Wall Street
Journal.  The Company pays 300 basis points above LIBOR to borrow
under the facility.  The bank loan matures on Oct. 25, 2017, and
carries Moody's 'BB2' rating and Standard & Poor's 'BB-' rating.
The loan is one of the biggest gainers and losers among 72 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

                        About DineEquity

DineEquity, Inc. (NYSE:DIN) -- http://www.dineequity.com/-- owns
and operates two restaurant concepts: Applebee's Neighborhood
Grill and Bar (Applebee's) in the bar and grill segment of the
casual dining category of the restaurant industry, and
International House of Pancakes (IHOP) in the family dining
category of the restaurant industry.  The Company's segments
include franchise operations, company restaurant operations,
rental operations and financing operations.  Within each segment,
as applicable, the Company operates two restaurant concepts:
Applebee's and IHOP.  As of December 31, 2010, the franchise
operations segment consisted of 1,701 restaurants operated by
Applebee's franchisees in the United States, one United States
territory and 16 countries outside of the United States, and 1,493
restaurants operated by IHOP franchisees and area licensees in the
United States, two United States territories and two countries
outside of the United States.

DineEquity posted net income of $348,000 on total segment revenues
of $268.3 million for the second quarter ended June 30, 2011, as
compared with net income $14.0 million on total segment revenues
of $340.1 million for the prior year period.  For the six months
ended June 30, 2011, DineEquity posted net income of $30.0 million
on total segment revenues of $568.5 million, as compared with net
income $33.7 million on total segment revenues of $698.2 million
for the prior year period.

At June 30, 2011, DineEquity's unaudited balance sheet showed
total assets of $2.66 billion, total liabilities of $2.53 billion,
and total stockholders' equity of $126.2 million.


DREIER LLP: Committee Seeks Invoice Payments from 3 More Clients
----------------------------------------------------------------
The Official Committee of Unsecured Creditors of Dreier LLP filed
separate complaints against certain clients for unpaid balances
for legal services rendered to the Defendants, plus interests and
cost.  The Committee relates that the invoices remain unpaid
despite due demand.

The outstanding balances of each Defendant, excluding interests
and cost are:

   (i) Phoenix Derivatives Group, LLC, for $84,500;
  (ii) Terra Capital Partners, LLC, for $52,953; and
(iii) Vo-Toys Inc., for $48,734.

                       About Dreier LLP

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

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

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

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


DULCES ARBOR: Court OKs Renterial for Maple Issues
--------------------------------------------------
The Leif M. Clark of the U.S. Bankruptcy Court for the Western
District of Texas authorized Dulces Arbor S. De R.L. De C.V. to
employ Robert Renteria at Renteria Manqueros Abogados S.C. as
special counsel.

According to the Debtor, Mr. Renteria is already familiar with the
facts and transactions under which Maple Commercial Finance
Corporation acquired the lien claims it has been asserting against
the Debtor.

Mr. Renteria charges $240 per hour for this engagement.  His
compensation is to be limited to $5,000 per month plus 7.5% of the
amount of any rent allocated.

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

                        About Dulces Arbor

Dulces Arbor, S. de R.L. de C.V., aka Dulces Arbor, S.A. de C.V.,
is a Mexican corporation that has been doing business for years in
the greater El Paso-Ciudad Juarez area in Texas.  It filed for
Chapter 11 bankruptcy (Bankr. W.D. Tex. Case No. 11-31199) on
June 22, 2011.  Judge Leif M. Clark presides over the case.

In its petition, the Debtor estimated assets of $10 million to
$50 million, and debts of $1 million to $10 million.  The petition
was signed by Raymond Ducorsky, sole administrator.  Mr. Ducorsky
is also its largest unsecured creditor with a $2,300,000 claim.


E-DEBIT GLOBAL: Inks Pact to Roll Out Mobile Payment Platforms
--------------------------------------------------------------
E-Debit Global Corporation, in conjunction with its joint-venture
with ebackup Inc., Capital Six Limited, announced its agreement
with European and South African mobile Telco software and
infrastructure provider IN-CORP AG's Canadian subsidiary
MapleTel.com to roll out its mobile and internet based payment
platforms.

"After a comprehensive review with MapleTel president Johan Kok we
find that we have a very dynamic opportunity to leverage our 12
years of PIN based financial transaction processing operational
experience and our 2010 acquisition of DigiCoins Canada Inc.
loyalty program and contactless technology with Maple Tel' telecom
applications to initiate our E-Debit payment platform," E-Debit
Chief Executive Doug Mac Donald said in a joint statement with
ebackup Inc. President Rowland Perkins.

"Our entry point and first priority is the immediate integration
of our P2P (person to person) application and E-Debit's PIN based
and micro payment capabilities into our new joint-venture," stated
Johan Kok, President of MapleTel.  "We are focused directly on a
PIN secured Internet payment product and a subsequent related
mobile payment solution built on E-Debits payment experience and
suite of business operations currently in place.  I anticipate a
very quick Beta development and look to our current 250,000+
subscriber base in South Africa and South America for the initial
large scale test/roll-out in tandem with a North American
implementation," Mr. Kok added.

"Our Alberta joint-venture is based on equal participation between
E-Debit's and ebackup's Capital Six Limited with 50% ownership and
50% with MapleTel and incorporates exclusive processing agreements
with E-Debit's wholly owned subsidiary and Interac member
Westsphere Systems Inc," state Mr. Mac Donald.

"Our secure on-line and mobile payment management and processing
solution fills the nonexistent Canadian and international secured
payment segment and the combination of ebackup's "cloud" based PCI
compliant data centre, technical and back up support and E-Debit's
"processing switch and micropayment system currently in place
allows for a quick entry into this marketplace,"  Concluded Mr.
Kok.

                  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.


EDGEWORTH PROPERTIES: Case Summary & 8 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Edgeworth Properties, LLC
        1755 18th Street, N.W.
        Washington, DC 20009

Bankruptcy Case No.: 11-26577

Chapter 11 Petition Date: August 12, 2011

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

Judge: Wendelin I. Lipp

Debtor's Counsel: David E. Lynn, Esq.
                  DAVID E. LYNN, P.C.
                  15245 Shady Grove Road, Suite 465 North
                  Rockville, MD 20850
                  Tel: (301) 255-0100
                  Fax: (301) 255-0101
                  E-mail: davidlynn@verizon.net

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

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

A list of the Company's eight largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/mdb11-26577.pdf

The petition was signed by Mary L. Ross, sole member.

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Milestone Tarant, LLC                 11-10038            01/03/11


ENTECH SOLAR: Posts $2.4 Million Net Loss in 2nd Quarter
--------------------------------------------------------
Entech Solar, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $2.4 million on $62,000 of revenues for
the three months ended June 30, 2011, compared with a net loss of
$4.8 million on $30,000 of revenues for the same period last year.

The Company reported a net loss of $4.6 million on $111,000 of
revenues for the six months ended June 30, 2011, compared with a
net loss of $11.1 million on $45,000 of revenues for the same
period last year.

The Company's balance sheet at June 30, 2011, showed
$39.4 million in total assets, $4.7 million in total liabilities,
$11.2 million of Series D-1 convertible preferred stock, and
stockholders' equity of $23.5 million.

As reported in the TCR on Marcy 29, 2011, EisnerAmper LLP, in
Edison, New Jersey, expressed substantial doubt about Entech
Solar's ability to continue as a going concern, following the
Company's 2010 results.  The independent auditors noted that the
Company has suffered recurring losses and negative cash flows from
operations.

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

Fort Worth, Tex.-based Entech Solar, Inc., develops innovative,
patented solar technologies, including concentrating photovoltaic
(CPV) systems for both ground and space power applications.  The
Company designs concentrating solar modules that produce
electricity from sunlight as part of the SolarVolt(TM) product
line.


EQUIPMENT MANAGEMENT: Electro Rent to Buy Assets for $11.1-Mil.
---------------------------------------------------------------
Electro Rent Corporation will acquire the assets of privately held
Equipment Management Technology, Inc., a provider of electronic
test equipment that filed for bankruptcy protection earlier this
year, in a private sale through the U.S. Bankruptcy court.  The
stated purchase price is approximately $11.1 million in cash.  The
purchase price will be adjusted based on certain closing and post-
closing changes in EMT's net accounts receivable, equipment
inventory and revenue.  The transaction, which is expected to
close on or about August 19, 2011, has received U.S. Bankruptcy
court approval.

Electro Rent said it anticipates realizing substantial cost
synergies as a result of the purchase, as it integrates EMT's
equipment inventory and customer base and moves operations to
Electro Rent's headquarters.  The acquisition is expected to be
immediately accretive to Electro Rent's earnings.

"EMT's electronic test equipment business is well matched to our
own," said Daniel Greenberg, Chairman and CEO of Electro Rent.
"This strategic transaction will deepen our equipment portfolio to
help ensure that we are continually surpassing our mutual
customers' needs and expectations, while providing them with an
expanded range of cost-effective solutions.  We remain committed
to sharing our strong history of service excellence and
responsiveness with EMT's customers.

"Our solid balance sheet provides us with considerable
flexibility, allowing us to act quickly when strategic
opportunities to drive growth arise.  This acquisition will serve
us well as we work toward becoming one of the world's most
recognized test and measurement and telecommunications capital
equipment business partners," Greenberg added.

Based in Las Vegas, EMT rents, sells and leases new and used
electronic test equipment primarily to the aerospace/defense
industry.

                     About Electro Rent

Electro Rent Corporation -- http://www.ElectroRent.com/-- is one
of the largest global organizations devoted to the rental, leasing
and sales of general purpose electronic test equipment, personal
computers and servers.

                  About Equipment Management

Las Vegas, Nevada-based Equipment Management Technology filed for
Chapter 11 bankruptcy protection (Bankr. D. Nev. Case No. 11-
11816) on Feb. 9, 2011.  Judge Linda B. Riegle presides over the
case.  Attorneys at The Schwartz Law Firm, Inc., represent the
Debtor in its restructuring effort.  The Debtor disclosed
$9,244,571 in assets and $14,272,739 in liabilities.

On March 16, 2011, the Court appointed Brian D. Shapiro as Chapter
11 trustee in the Debtor's case.


EVERGREEN SOLAR: Files for Chapter 11 to Sell Assets
----------------------------------------------------
Evergreen Solar, Inc. had voluntarily filed a petition for relief
under Chapter 11 of the U.S. Bankruptcy Code.  The petition was
filed in the U.S. Bankruptcy Court for the District of Delaware.

In conjunction with the Chapter 11 filing, the Company entered
into a restructuring support agreement with certain holders of
more than 70% of the outstanding principal amount of the Company's
13% Convertible Senior Secured Notes, or the supporting
noteholders.  Pursuant to the restructuring support agreement, the
supporting noteholders have agreed, subject to certain terms and
conditions, to implement the restructuring to be effected through
one or more sales of certain of the Company's assets pursuant to
section 363 of the Bankruptcy Code, including the Company's String
Ribbon(TM) wafer technology business assets.  As part of the
bankruptcy process the Company will undertake a marketing process
and will permit all parties to bid on its assets, as a whole or in
groups pursuant to section 363 of the Bankruptcy Code.  The
supporting noteholders have agreed to support the Company's
restructuring by consenting to cash collateral usage pursuant to a
budget during the sale process; and to support the costs of the
Bankruptcy Case, including court approval of a plan of
reorganization subsequent to the sale process.

As part of the restructuring, an entity formed by the supporting
noteholders, ES Purchaser, LLC, entered into an asset purchase
agreement with the Company. ES Purchaser will serve as a
"stalking-horse" and provide a "credit-bid" pursuant to the
Bankruptcy Code for assets being sold.  If higher or better offers
for assets are not obtained, it is expected that most of the
Company's assets will be acquired by ES Purchaser pursuant to the
asset purchase agreement.  The asset purchase agreement for the
363 sale is subject to Bankruptcy Court approval and other
customary closing conditions.  The Company has the requisite
funding in hand to operate in Chapter 11 and will continue to
operate but with additional operational changes necessary to
continue to reduce expenses.

"Since January, Evergreen Solar has been aggressively
repositioning itself to fully leverage the potential our String
Ribbon wafers can bring to high volume solar cell and module
manufacturers as these customers are facing severe pressure to
further reduce their total cost of manufacturing and particularly
their wafer supply costs.  The actions we are taking enable the
continued development of an industry standard wafer using
Evergreen's differentiated technology and thereby provide the
lowest cost wafer to the growing solar industry," said Michael El-
Hillow, the Company's President and Chief Executive Officer.

"Chapter 11 will provide Evergreen Solar with the ability to
maximize returns for our stakeholders through the proposed sale
process.  Importantly, we expect to continue our technology
development without interruption during Chapter 11 and the sale
process.  Day-to-day operations will go on as usual as employees
carry out their responsibilities and we will continue to pay our
suppliers and vendors for goods and services received during this
period," Mr. El-Hillow added.

As part of Evergreen Solar's reorganization activities, the
Company will reduce its United States and European workforce by
about 65 people, including suspension of operations at its
Midland, Michigan filament facility, and will have 50 people
supporting development, 10 people in administration as well as 25
people supporting industry standard wafer development in Wuhan,
China.  The Company's Wuhan China manufacturing business is
expected to continue depending on market demand while the Company
engages in discussions with its investors in China regarding
possible changes to that operation and its sources of financing,
including the possibility of transitioning its operations to the
Company's new industry standard wafer technology.

Based upon the estimated value of the Company's assets, the assets
are expected to be insufficient to satisfy all its obligations to
its creditors.  Accordingly, it is expected that no distributions
will be made to holders of common stock and the common stock will
be extinguished upon consummation of the Chapter 11 plan.

                       About Evergreen Solar

Evergreen Solar, Inc. -- http://www.evergreensolar.com/--
develops, manufactures and markets String Ribbon solar power
products using its proprietary, low-cost silicon wafer technology.
The Company's patented wafer manufacturing technology uses
significantly less polysilicon than conventional processes.
Evergreen Solar's products provide reliable and environmentally
clean electric power for residential and commercial applications
globally.


FIREKEEPERS DEV'T: Moody's Affirms B2 Corporate; Outlook Positive
-----------------------------------------------------------------
Moody's Investors Service changed FireKeepers Development
Authority's rating outlook to positive from stable, while
affirming its Corporate Family Rating (CFR) and $340 million
senior notes due 2015 at B2. Moody's also revised the Probability
of Default Rating (PDR) to B1 from B2, due to the shift in FDA's
debt structure to a bond-only construct.

Ratings affirmed: (LGD assessment adjusted)

Corporate Family Rating -- B2

$340 million 13.875% senior secured notes due May 2015 -- B2 (LGD
4, 65%)

Rating revised:

Probability of Default -- to B1 from B2

Rating outlook: Positive

RATINGS RATIONALE

The outlook change to positive reflects FireKeepers' consistently
strong operating performance despite the recently increased
competition from Gun Lake Casino, conservative financial leverage
and significant financial flexibility in part afforded by its
substantial unrestricted cash balance. "The positive outlook also
suggests the possibility for a one-notch rating upgrade in the
next 6-9 months," commented Moody's lead analyst, John Zhao.

However, Moody's notes that competition in FireKeepers' primary
and secondary markets will likely increase further over the near
term, a rating factor that Moody's will continue to monitor. In
particular, the further ramp-up of the Gun Lake Casino in Wayland,
Michigan that opened in February 2011(about 60 miles away from
FireKeepers), the future opening of a new tribal casino in
Hartford, MI (about 60 miles west of FireKeepers, owned by Pokagon
Band), the expansion project at the Four Winds Casino Resort also
owned by Pokagon, and the opening of a large commercial casino in
Toledo, OH in 2012, all will likely have some impact on
FireKeepers' future revenue and profitability due to some
overlapping of customer base. Therefore, a rating upgrade is
contingent upon FDA's proven ability to sustain its operating
performance and credit metrics at current levels in the face of
rising competition.

A rating upgrade would also require the Authority to maintain a
conservative long-term financial policy with respect to tribal
distributions. Quantitatively, total debt/EBITDA should remain
consistently below 3.0x and EBITDA/Interest approach 3.0x.
Negative pressure on the rating is not currently expected in view
of today's action. However, the outlook could be stabilized if
FDA's operating profit is affected more negatively and credit
metrics deteriorate from current expectations.

The revision of PDR to B1 from B2 reflects the lowering of the
family recovery assumption to 35% from 50% per Moody's Loss Given
Default methodology, due to the shift in FDA's debt structure to a
bond-only construct after the previously outstanding equipment
loan was paid off.

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

The FireKeepers Development Authority ("FDA") is an unincorporated
instrumentality and political subdivision of the Nottawaseppi
Huron Band of the Potawatomi ("The Tribe"), established by the
Tribe to own, develop, construct and operate the FireKeepers
Casino. The casino, which opened in August 2009, is located near
the city of Battle Creek, Michigan. It features 2,801 Class III
slot machines, 12 poker tables and 67 table games. The Tribe is a
federally recognized Indian tribe, restored to such status by the
U.S. government effective 1996.


FORMATECH, INC.: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Formatech, Inc.
        200 Bulfinch Drive
        Andover, MA 01810

Bankruptcy Case No.: 11-43424

Chapter 11 Petition Date: August 12, 2011

Court: U.S. Bankruptcy Court
       District of Massachusetts (Worcester)

Judge: Melvin S. Hoffman

Debtor's Counsel: Barry C. Richmond, Esq.
                  LAW OFFICE OF BARRY C. RICHMOND
                  210 Washington Street
                  Woburn, MA 01801
                  Tel: (781) 935-2143
                  E-mail: richmondlaw@hotmail.com

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

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

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

The petition was signed by Indu S. Javeri, president.


FREEMAN PROPERTIES: Case Summary & Unsecured Creditor
-----------------------------------------------------
Debtor: Freeman Properties LLC
        1119 Leighton Avenue
        Anniston, AL 36207

Bankruptcy Case No.: 11-42083

Chapter 11 Petition Date:

Court: United States Bankruptcy Court
       Northern District of Alabama (Anniston)

Judge: James J. Robinson

Debtor's Counsel: Mark Russell, Esq.
                  LABUDDE & RUSSELL
                  P.O. Box 1924
                  Anniston, AL 36202
                  Tel: (256) 238-0887
                  E-mail: markrussellesq@cableone.net

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

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

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

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Compass Bank                                     $835,793
P.O. Box 830629
Birmingham, AL 35283

The petition was signed by R. Bryan Freeman, president.


FUSION TELECOMMUNICATIONS: Borrows $270,000 from Marvin Rosen
-------------------------------------------------------------
In separate transactions, Fusion Telecommunications International,
Inc., borrowed an aggregate of $270,000 from Marvin S Rosen, a
director of the Company.  The notes (a) are payable on demand in
full upon ten days notice of demand from the lender, (b) bear
interest on the unpaid principal amount at the rate of 3.25% per
annum, and (c) grant the lender a collateralized security
interest, pari passu with other lenders, in the Company's accounts
receivable.  The proceeds of the notes are to be used primarily
for general corporate purposes.

                  About Fusion Telecommunications

New York City-based Fusion Telecommunications International, Inc.
(OTC BB: FSNN) is a provider of Internet Protocol ("IP") based
digital voice and data communications services to corporations and
carriers worldwide.

As reported by the TCR on April 26, 2011, Rothstein, Kass &
Company, P.C., in Roseland, New Jersey, expressed substantial
doubt about Fusion Telecommunications' ability to continue as a
going concern.  The independent auditors noted that the Company
the Company has negative working capital balances, incurred
negative cash flows from operations and net losses since
inception, and has limited capital to fund future operations.

Fusion Telecommunications reported a net loss of $5.8 million on
$41.8 million of revenues for 2010, compared with a net loss of
$9.6 million on $40.9 million of revenues for 2009.

The Company's balance sheet at March 31, 2011, showed
$4.42 million in total assets, $13.55 million in total
liabilities, and a $9.12 million total stockholders' deficit.


GALP CNA: Affiliate Wentwood Rollingbrook's Ch. 11 Case Dismissed
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas
dismissed the Chapter 11 case of Wentwood Rollingbrook, L.P., a
debtor-affiliate of GALP CNA Limited Partnership.

As reported in the Troubled Company Reporter on June 27, 2011,
Judy A. Robbins, the U.S. Trustee for the Region 7, asked the
court to dismiss, or convert to Chapter 7, the Chapter 11
reorganization case of Wentwood Rollingbrook.

The U.S. Trustee noted that Wentwood does not have the ability to
reorganize, has not filed a disclosure statement or plan, and is
deficient in filing monthly operating reports.

                          About GALP CNA

Houston, Texas-based GALP CNA Limited Partnership filed for
Chapter 11 bankruptcy protection on Oct. 4, 2010 (Bankr. S.D.
Tex. Case No. 10-38975).  The Debtor estimated its assets and
debts at $1 million to $10 million at the Petition Date.

GALP CNA's case is jointly administered with that of Wentwood
Woodside I, L.P., Wentwood Roundhill I, L.P., Wentwood
Rollingbrook, L.P., and GALP Cypress Limited Partnership.  GALP
CNA is the lead case.

Houston, Texas-based GALP CNA Limited Partnership filed for
Chapter 11 bankruptcy protection on Oct. 4, 2010 (Bankr. S.D.
Tex. Case No. 10-38975).  The Debtor estimated its assets and
debts at $1 million to $10 million at the Petition Date.

Houston, Texas-based Wentwood Woodside filed for Chapter 11
bankruptcy protection on Oct. 4, 2010 (Bankr. S.D. Tex. Case
No. 10-38981).  It estimated its assets at $10 million to
$50 million and debts at $1 million to $10 million at the Petition
Date.

Houston, Texas-based Wentwood Roundhill filed for Chapter 11
bankruptcy protection on Oct. 4, 2010 (Bankr. S.D. Tex. Case
No. 10-38984.  It estimated its assets and debts at $1 million to
$10 million at the Petition Date.

Houston, Texas-based Wentwood Rollingbrook filed for Chapter 11
bankruptcy protection on Oct. 4, 2010 (Bankr. S.D. Tex. Case
No. 10-38988.  It estimated its assets and debts at $1 million to
$10 million at the Petition Date.

Houston, Texas-based GALP Cypress filed for Chapter 11 bankruptcy
protection on Oct. 4, 2010 (Bankr. S.D. Tex. Case No.
10-38991).  It estimated its assets at $10 million to $50 million
and debts at $1 million to $10 million at the Petition Date.

Matthew Hoffman, Esq., at the Law Offices of Matthew Hoffman,
P.C., assists the Debtors in their restructuring efforts.


GAMETECH INT'L: Common Stock Stops Trading on Nasdaq
----------------------------------------------------
GameTech International, Inc., announced its common stock ceased
trading on The Nasdaq Capital Market effective Aug. 11, 2011.  The
Company has been informed that it is eligible for trading on the
OTCQB Marketplace effective with the market open on Aug. 11, 2011.
The Company's ticker symbol will remain as "GMTC".

Operated by OTC Markets Group Inc., the OTCQB is a market tier for
OTC traded companies that are registered and reporting with the
Securities and Exchange Commission.  Investors will be able to
view Real Time Level II stock quotes for the Company at
http://www.otcmarkets.comunder the ticker symbol GMTC.

As previously disclosed in the Company's Current Report on Form
8-K filed with the SEC on Aug. 8, 2011, GameTech received
notification from The Nasdaq Stock Market on Aug. 2, 2011, stating
that the Company had failed to satisfy Nasdaq's minimum bid
requirement for continued listing and, as a result, the Company's
common stock would be suspended from listing at the open of
business on Aug. 11, 2011, unless the Company pursued an appeal
with the Nasdaq Hearings Panel on or before Aug. 9, 2011.  The
Company determined not to appeal Nasdaq's decision.

                    About GameTech International

Based in Reno, Nevada, GameTech develops and manufactures gaming
entertainment products and systems.  GameTech holds a significant
position in the North American bingo market with its interactive
electronic bingo systems, portable and fixed-based gaming units,
and complete hall management modules.  It also holds a significant
position in select North American VLT markets, primarily Montana,
Louisiana, and South Dakota, where it offers video lottery
terminals and related gaming equipment and software.  It also
offers Class III slot machines and server-based gaming systems.

The Company reported a net loss of $20.4 million on $35.2 million
of revenue for the 52 weeks ended Oct. 31, 2010, compared with a
net loss of $10.5 million on $47.8 million of revenue for the
52 weeks ended Nov. 1, 2009.

Piercy Bowler Taylor & Kern, in Las Vegas, Nevada, expressed
substantial doubt about GameTech International, Inc.'s ability to
continue as a going concern.  The independent auditors noted that
the Company has suffered reoccurring losses from operations and
has been unable to extend the maturity of its debt, or raise
additional capital necessary to execute its business plan.

The Company's balance sheet at May 1, 2011, showed $40.19 million
in total assets, $32.33 million in total liabilities and $7.86
million in total stockholders' equity.


GENERAL MARITIME: F. Johnson stake Down to "Less Than 1%"
---------------------------------------------------------
In an amended Schedule 13D filing with the U.S. Securities and
Exchange Commission, Frank Lagrange Johnson and his affiliates
disclosed that they beneficially own 72,500 shares of common stock
of General Maritime Corporation representing less than 1% of the
shares outstanding, based upon 121,525,048 shares outstanding as
of Aug. 5, 2011, as reported in the Company's quarterly report on
Form 10-Q, filed with the Securities and Exchange Commission on
Aug. 8, 2011.  As previously reported by the TCR on July 11, 2011,
Mr. Johnson disclosed beneficial ownership of 7,997,448 shares of
common stock or 6.8% equity stake.

A full-text copy of the regulatory filing is available at no
charge at http://is.gd/2CCId3

                    About General Maritime Corp.

Based in New York City, General Maritime Corporation through its
subsidiaries provides international transportation services of
seaborne crude oil and petroleum products.  The Company's fleet is
comprised of VLCC, Suezmax, Aframax, Panamax and product carrier
vessels.  The Company operates its business in one business
segment, which is the transportation of international seaborne
crude oil and petroleum products.  The Company's vessels are
primarily available for charter on a spot voyage or time charter
basis.

The Company reported a net loss of $216.66 million on $387.16
million of voyage revenue for the year ended Dec. 31, 2010,
compared with a net loss of $11.99 million on $350.52 million of
voyage revenue during the prior year.

The Company's balance sheet at June 30, 2011, showed $1.78 billion
in total assets, $1.44 billion in total liabilities, and
$339.32 million in total shareholders' equity.

Deloitte & Touche LLP, in New York, expressed substantial doubt
about the Company's ability to continue as a going concern.  The
independent auditor noted that the Company requires additional
financing in order to meet its debt obligations that will come due
over the next year.  In addition, the Company has current losses
from operations, a working capital deficit and the expectation
that certain of its loan covenants will not be achieved during
2011 without additional capital being raised, debt being
refinanced or covenants waived or amended.

                          *     *     *

Standard & Poor's Ratings Services in December 2010 lowered its
long-term corporate rating on General Maritime Corp. to 'CCC+'
from 'B', and placed the ratings on CreditWatch with negative
implications.  At the same time, S&P lowered its ratings on the
company's senior unsecured notes to 'CCC-', two notches below the
new corporate credit rating; the recovery rating of '6', which
indicates S&P's expectation that lenders will receive a negligible
(0%-10%) recovery in a payment default scenario, remains
unchanged.

"The downgrade reflects General Maritime's weak liquidity, very
limited financial covenant headroom (despite recent amendments),
and deterioration in its financial profile," said Standard &
Poor's credit analyst Funmi Afonja.  "As of Sept. 30, 2010,
General Maritime had no borrowing availability under its
$749.8 million revolving credit facility and $8.7 million in
unrestricted cash, after factoring financial covenant limitations.
In S&P's opinion, the recent financial covenant amendments do not
provide sufficient covenant headroom, and there is still a high
probability of a covenant breach over the next quarter.  If there
is a covenant breach, lenders can require the immediate payment
of all amounts outstanding.  General Maritime's liquidity is
further constrained by significant upcoming debt maturities,
including $27.5 million in scheduled principal payments due in
2011 under its term loan, $50.1 million semiannual reduction on
the revolver, beginning on April 26, 2011, and a bullet payment
of $599.6 million in October 2012, when the facility expires.
General Maritime also has a $22.8 million bridge loan facility
that matures in October 2011.  Cash interest payments on the
bridge loan will increase if the company is unable to pay off the
loan by Dec. 31, 2010."

In the Dec. 22, 2010 edition of the TCR, Moody's Investors Service
lowered its ratings of General Maritime Corporation: Corporate
Family to B3 from B1, Probability of Default to Caa1 from B2 and
senior unsecured to Caa2 from Caa1.  Moody's also downgraded the
Speculative Grade Liquidity rating to SGL-4 from SGL-3.  The
outlook is negative.  The downgrade of the ratings reflects
GenMar's tightening liquidity position as a result of ongoing weak
tanker freight rates and upcoming debt maturities.  These
maturities include the recently arranged $22.8 million bridge loan
due Oct. 21, 2011 ("Bridge Loan"), and two $50 million
repayments (one each on April 26, 2011 and Oct. 26, 2011) that
are due on the company's $750 million revolving credit facility
that was almost fully drawn at Sept. 30, 2010.


GENERAL MARITIME: OCM Marine Discloses 16.6% Equity Stake
---------------------------------------------------------
In an amended Schedule 13D filing with the U.S. Securities and
Exchange Commission, OCM Marine Holdings TP, L.P., and its
affiliates disclosed that they beneficially own 24,183,484 shares
of common stock of General Maritime Corporation representing 16.6%
of the shares outstanding, based upon an aggregate of 145,708,532
shares of Common Stock outstanding, which includes (i) 121,525,048
shares of Common Stock outstanding as disclosed in the Company's
Quarterly Report on Form 10-Q for the quarterly period ended
June 30, 2011, and (ii) 24,183,484 shares of Common Stock issuable
upon exercise of the Warrants.  A full-text copy of the filing is
available for free at http://is.gd/jhYXVY

                    About General Maritime Corp.

Based in New York City, General Maritime Corporation through its
subsidiaries provides international transportation services of
seaborne crude oil and petroleum products.  The Company's fleet is
comprised of VLCC, Suezmax, Aframax, Panamax and product carrier
vessels.  The Company operates its business in one business
segment, which is the transportation of international seaborne
crude oil and petroleum products.  The Company's vessels are
primarily available for charter on a spot voyage or time charter
basis.

The Company reported a net loss of $216.66 million on $387.16
million of voyage revenue for the year ended Dec. 31, 2010,
compared with a net loss of $11.99 million on $350.52 million of
voyage revenue during the prior year.

The Company's balance sheet at June 30, 2011, showed $1.78 billion
in total assets, $1.44 billion in total liabilities, and
$339.32 million in total shareholders' equity.

Deloitte & Touche LLP, in New York, expressed substantial doubt
about the Company's ability to continue as a going concern.  The
independent auditor noted that the Company requires additional
financing in order to meet its debt obligations that will come due
over the next year.  In addition, the Company has current losses
from operations, a working capital deficit and the expectation
that certain of its loan covenants will not be achieved during
2011 without additional capital being raised, debt being
refinanced or covenants waived or amended.

                          *     *     *

Standard & Poor's Ratings Services in December 2010 lowered its
long-term corporate rating on General Maritime Corp. to 'CCC+'
from 'B', and placed the ratings on CreditWatch with negative
implications.  At the same time, S&P lowered its ratings on the
company's senior unsecured notes to 'CCC-', two notches below the
new corporate credit rating; the recovery rating of '6', which
indicates S&P's expectation that lenders will receive a negligible
(0%-10%) recovery in a payment default scenario, remains
unchanged.

"The downgrade reflects General Maritime's weak liquidity, very
limited financial covenant headroom (despite recent amendments),
and deterioration in its financial profile," said Standard &
Poor's credit analyst Funmi Afonja.  "As of Sept. 30, 2010,
General Maritime had no borrowing availability under its
$749.8 million revolving credit facility and $8.7 million in
unrestricted cash, after factoring financial covenant limitations.
In S&P's opinion, the recent financial covenant amendments do not
provide sufficient covenant headroom, and there is still a high
probability of a covenant breach over the next quarter.  If there
is a covenant breach, lenders can require the immediate payment
of all amounts outstanding.  General Maritime's liquidity is
further constrained by significant upcoming debt maturities,
including $27.5 million in scheduled principal payments due in
2011 under its term loan, $50.1 million semiannual reduction on
the revolver, beginning on April 26, 2011, and a bullet payment
of $599.6 million in October 2012, when the facility expires.
General Maritime also has a $22.8 million bridge loan facility
that matures in October 2011.  Cash interest payments on the
bridge loan will increase if the company is unable to pay off the
loan by Dec. 31, 2010."

In the Dec. 22, 2010 edition of the TCR, Moody's Investors Service
lowered its ratings of General Maritime Corporation: Corporate
Family to B3 from B1, Probability of Default to Caa1 from B2 and
senior unsecured to Caa2 from Caa1.  Moody's also downgraded the
Speculative Grade Liquidity rating to SGL-4 from SGL-3.  The
outlook is negative.  The downgrade of the ratings reflects
GenMar's tightening liquidity position as a result of ongoing weak
tanker freight rates and upcoming debt maturities.  These
maturities include the recently arranged $22.8 million bridge loan
due Oct. 21, 2011 ("Bridge Loan"), and two $50 million
repayments (one each on April 26, 2011 and Oct. 26, 2011) that
are due on the company's $750 million revolving credit facility
that was almost fully drawn at Sept. 30, 2010.


GENTA INC: Has $11-Mil. Q2 Net Loss, May Run Out of Cash in Q3
--------------------------------------------------------------
Genta Incorporated filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, reporting a net loss
of $11.58 million on $54,000 of net product sales for the three
months ended June 30, 2011, compared with net income of
$25.44 million on $76,000 of net product sales for the same period
during the previous year.

The Company also reported a net loss of $11.07 million on $107,000
of net product sales for the six months ended June 30, 2011,
compared with a net loss of $141.17 million on $110,000 of net
product sales for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $6.44 million
in total assets, $19.10 million in total liabilities, and a
$12.65 million total stockholders' deficit.

At June 30, 2011, Genta had cash and cash equivalents totaling
$5.2 million, compared with $12.8 million at Dec. 31, 2010.  Net
cash used in operating activities during the first six months of
2011 was $7.3 million, or approximately $1.2 million per month.

                        Bankruptcy Warning

Presently, with no further financing, the Company projects that it
will run out of funds during the third quarter of 2011.  The
Company currently does not have any additional financing in place.
If the Company is unable to raise additional funds, it could be
required to reduce its spending plans, reduce its workforce,
license one or more of its products or technologies that it would
otherwise seek to commercialize, sell certain assets, or even
declare bankruptcy.  The Company said there can be no assurance
that it can obtain financing, if at all, or raise such additional
funds, on terms acceptable to it.

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

                        http://is.gd/haA8C9

                     About Genta Incorporated

Berkeley Heights, New Jersey-based Genta Incorporated (OTC BB:
GNTA) -- http://www.genta.com/-- is a biopharmaceutical company
engaged in pharmaceutical (drug) research and development.  The
Company is dedicated to the identification, development and
commercialization of novel drugs for the treatment of cancer and
related diseases.

EisnerAmper LLP, in Edison, New Jersey, expressed substantial
doubt about Genta's ability to continue as a going concern
following the 2010 financial results.  The independent auditors
noted that of the Company's recurring losses from operations,
negative cash flows from operations and current maturities of
convertible notes payable.

Amper, Politziner & Mattia, LLP, in Edison, New Jersey, did not
include a going concern explanatory paragraph in its audit report
on the Company's financial statements for fiscal 2009.

The Company reported a net loss of $167.3 million on $257,000 of
sales for 2010, compared with a net loss of $86.3 million on
$218,000 for 2009.


GEORGE W. PARK: Court Closes Case; Orders Trustee Fees Be Paid
--------------------------------------------------------------
In a final decree dated June 28, 2011, Chief U.S. Bankruptcy Judge
John Waites ordered that the Chapter 11 case of Geo. W. Park Seed
Co., Inc., is closed; and the Court's jurisdiction is ended except
as provided in 11 U.S.C. Section 1142.  All quarterly fees due and
owing to the United States Trustee must be paid current through
the date of the order.

As reported in the TCR on Feb. 21, 2011, the Bankruptcy Court for
the District of South Carolina confirmed the Plan of
Reorganization filed by L. Stan Neely, the Chapter 11 trustee for
Geo W. Park Seed Co. Inc., and its debtor-affiliates.

As reported in the Troubled Company Reporter on Jan. 5, 2011, the
Plan provides for the distribution of the remaining cash assets of
the estate -- after payment to Wells Fargo and the Hachenbergers
pursuant to a settlement -- to the general unsecured creditors,
after payment in full of all administrative claims, payment in
full of taxes owed to the County of Greenwood, and payment in full
of priority unsecured claims.

Wells Fargo and the Hachenbergers collectively have a first lien
over all the assets that were sold to J&P Park Acquisitions Inc.
Under the settlement, Wells Fargo and the Hachenbergers have
agreed to receive payment of $6,773,275 in full satisfaction of
their liens and other claims against the estate.  Because the sale
proceeds were not enough to pay the first liens in full, the liens
of junior lienholders are unsecured, and the claims of the junior
lienholders will be treated as general unsecured claims in the
Plan.

On August 23, 2010, the auction and sale hearing were conducted
and competitive bidding ensued.  The Court eventually approved the
improved stalking horse bid by J&P Park as the highest and best
offer for the assets, with a total gross consideration of
approximately $12,800,000, including a cash payment of $8,264,095.

Wells Fargo and the Hachenbergers have agreed, pursuant to the
Settlement, to a carve-out of $2,500,000.  The carve-out will be
used to pay administrative claims, taxes to the County of
Greenwood, and unsecured priority claims, with any remainder
distributed to the general unsecured creditors.

In addition, the plan will pay holders of general unsecured, owing
$47,000,000 in aggregate, will be paid on a pro rata basis from
estate funds remaining after all valid claims are paid.

A full-text copy of the Disclosure Statement is available for free
at http://ResearchArchives.com/t/s?71c5

                      About George W. Park

Based in Greenwood, South Carolina, George W. Park Seed Co. Inc.,
along with four affiliates, filed for Chapter 11 protection on
April 2, 2010 (Bankr. D. S.C. Lead Case No. 10-02431).  R.
Geoffrey Levy, Esq., represents the Company in its restructuring
effort.  In its schedules, the Company disclosed $8.33 million in
assets and $44.79 million in liabilities.

Jackson & Perkins-founded in 1872 and famous for its roses- became
part of the Park Seed group in 2007.


GIORDANO'S ENTERPRISES: Lender Seeks to Block Ex-Owner's Lawsuit
----------------------------------------------------------------
Dow Jones' DBR Small Cap reports that Fifth Third Bank, the
biggest lender to the Giordano's pizza chain, has began
challenging accusations from ousted owner John Apostolou that the
bank and others conspired against him when he ran the restaurant
company--injustices that Apostolou says warrant at least $120
million in personal injury damages for himself and his family.

                   About Giordano's Enterprises

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

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

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

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

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


GLAZIER GROUP: Committee Has Nod for FTI as Financial Advisor
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
has authorized the Official Committee of Unsecured Creditors in
the Chapter 11 case of The Glazier Group, Inc., to retain and
employ FTI Consulting, Inc., as its financial advisor, nunc pro
tunc to Feb. 8, 2011.

The Court is satisfied that FTI neither represents nor holds any
interest adverse in connection with these cases and is a
"disinterested person" as defined in Bankruptcy Code Section
101(14).

FTI's retention is effective through Oct. 31, 2011 (the "End
Date"), subject to further order of the Court.  FTI will be
compensated for its services based on its normal hourly rates,
subject to periodic adjustments, as follows:

     Senior Managing Directors          $780-$895
     Directors/Managing Directors       $560-$745
     Consultants/Senior Consultants     $280-$530
     Administration/Associates          $115-$230

FTI will not perform more than $62,500 worth of professional
services, subject to further order of the Court.

                     About The Glazier Group

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

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


GLOBAL FOOD: Posts $899,200 Net Loss in Second Quarter
------------------------------------------------------
Global Foods Technologies, Inc., filed its quarterly report on
Form 10-Q, reporting a net loss of $899,162 on $11,872 of revenues
for the three months ended June 30, 2011, compared with a net loss
of $901,448 on $314,476 of revenues for the same period last year.

The Company reported a net loss of $1.9 million on $101,438 of
revenues for the six months ended June 30, 2011, compared with a
net loss of $1.8 million on $635,800 of revenues for the same
period last year.

The Company's balance sheet at June 30, 2011, showed $2.2 million
in total assets, $4.4 million in total liabilities, and a
stockholders' deficit of $2.2 million.

Squar, Milner, Peterson, Miranda & Williamson, LLP, in Newport
Beach, California, expressed substantial doubt about Global Foods
Technologies' ability to continue as a going concern, following
the Company's 2010 results.  The independent auditors noted that
the Company has an accumulated deficit of approximately
$64.4 million at Dec. 31, 2010, has negative cash flow from
operations of approximately $2.8 million for the year ended
Dec. 31, 2010, and has negative working capital at Dec. 31, 2010.

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

Headquartered in Hanford, California, Global Food Technologies,
Inc., is a life sciences company focused on food safety processes
for the food processing industry by using its proprietary
scientific processes to substantially increase the shelf life of
commercially packaged seafood and to make those products safer for
human consumption.  The Company has developed a process using its
technology called the "iPuraT Food Processing System".  The System
is installed in processor factories in foreign countries with the
product currently sold in the United States.


GOB WP: Case Summary & 5 Largest Unsecured Creditors
----------------------------------------------------
Debtor: GOB WP CG, LLC
        fka Goldridge Group WP CG, LLC
        310 Pinnacle Way
        Eau Claire, WI 54701

Bankruptcy Case No.: 11-32453

Chapter 11 Petition Date: August 11, 2011

Court: United States Bankruptcy Court
       Eastern District of Wisconsin (Milwaukee)

Judge: Margaret Dee McGarity

Debtor's Counsel: Albert Solochek, Esq.
                  HOWARD, SOLOCHECK & WEBER, S.C.
                  324 East Wisconsin Avenue
                  Milwaukee, WI 53202
                  Tel: (414) 272-0760
                  E-mail: alsolochek@hswmke.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 five largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/wieb11-32453.pdf

The petition was signed by Steve L. Stamm, partner.


GRAPHIC PACKAGING: Bank Debt Trades at 3% Off in Secondary Market
-----------------------------------------------------------------
Participations in a syndicated loan under which Graphic Packaging
International, Inc., is a borrower traded in the secondary market
at 96.50 cents-on-the-dollar during the week ended Friday, Aug.
12, 2011, a drop of 2.70 percentage points from the previous week
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  The Company pays 200 basis points above
LIBOR to borrow under the facility.  The bank loan matures on May
16, 2014, and carries Moody's 'Ba2' rating and Standard & Poor's
BBB- rating.  The loan is one of the biggest gainers and losers
among 72 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.

                     About Graphic Packaging

Graphic Packaging International, Inc., formerly known as Riverwood
International Corporation, offers paperboard and integrated
paperboard solutions to beverage and consumer products
multinationals.  It provides paperboard and packaging machines.
It operates paper mills, converting facilities, and machinery
manufacturing facilities.  Graphic Packaging International, Inc.
is a wholly owned subsidiary of Graphic Packaging Holding Company
headquartered in Marietta, Georgia

Graphic Packaging Holding Company (GPHC) (NYSE:GPK) --
http://www.graphicpkg.com/-- is a provider of packaging solutions
for a range of products to food, beverage and other consumer
products companies.  The Company operates in three business
segments: paperboard packaging, multi-wall bag and specialty
packaging.  GPHC operates in four geographic areas: the United
States/Canada, Central/South America, Europe and Asia Pacific.  On
March 10, 2008, the businesses of Graphic Packaging Corporation
and Altivity Packaging, LLC, were combined through a series of
transactions.  In June 2009, the Company announced that is sold
certain assets of the Handschy inks, coatings and varnishes
business to Sun Chemical.  As of December 31, 2009, the Company
held 50% ownership interest in Rengo Riverwood Packaging, Ltd.  In
2009, GPHC held 60% ownership interest in Graphic Hung Hing
Packaging Ltd.  In April 2011, the Company acquired Sierra Pacific
Packaging, Inc.


GRAYMARK HEALTHCARE: Incurs $600,000 Net Loss in Second Quarter
---------------------------------------------------------------
Graymark Healthcare, Inc., reported a net loss of $600,248 on
$4.41 million of net revenues for the three months ended June 30,
2011, compared with a net loss of $133,236 on $5.52 million of net
revenues for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed
$32.32 million in total assets, $23.76 million in total
liabilities and $7.56 million in total equity.

"In the second quarter of 2011, we realized higher sleep study
volumes as a result of the strategy implemented at the beginning
of 2011, in which we set forth to drive referral volume through
key management changes and new sales initiatives," said Stanton
Nelson, Graymark's chairman and CEO.  "In fact, compared to the
previous quarter, sleep studies and our recurring revenue re-
supply business increased 14% and 15%, respectively.  We have also
continued the execution of cost-cutting measures aimed at driving
efficiency throughout our organization and as a result, we have
realized $1.4 million of SG&A savings since the beginning of the
year."

A full-text copy of the press release announcing the financial
results is available for free at http://is.gd/gbud4v

                      About Graymark Healthcare

Oklahoma City, Okla.-based Graymark Healthcare, Inc. (NASDAQ:
GRMH) -- http://www.graymarkhealthcare.com/-- is one of the
largest providers of care management solutions to the sleep
disorder market based on number of independent sleep care centers
and hospital sleep diagnostic programs operated in the United
States.

As reported in the TCR on April 5, 2011, Eide Bailly LLP, in
Greenwood Village, Colo., expressed substantial doubt about
Graymark Healthcare's ability to continue as a going concern,
following the Company's 2010 results.  The independent auditors
noted that the Company has suffered significant losses from
operations, anticipates additional losses in the next year and has
insufficient working capital as of Dec. 31, 2010, to fund the
anticipated losses.


GREEN BUILDERS: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Green Builders, Inc.
          aka Cole Computer Corp.
              Wilson Holdings, Inc.
        110 Wild Basin Road South, Suite 300
        Austin, TX 78746

Bankruptcy Case No.: 11-12013

Chapter 11 Petition Date: August 12, 2011

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

Judge: Craig A. Gargotta

Debtor's Counsel: Stephen A. Roberts, Esq.
                  STRASBURGER & PRICE, LLP
                  600 Congress Avenue, Suite 1600
                  Austin, TX 78701
                  Tel: (512) 499-3600
                  Fax: (512) 499-3660
                  E-mail: stephen.roberts@strasburger.com

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

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/txwb11-12013.pdf

The petition was signed by William E. Weber, president.

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Wilson Family Communities, Inc.       11-12014            08/12/11


GREEN ENDEAVORS: Incurs $105,000 Net Loss in Second Quarter
-----------------------------------------------------------
Green Endeavors, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q reporting a net loss
of $105,775 on $688,309 of total revenue for the three months
ended June 30, 2011, compared with a net loss of $25,974 on
$548,120 of total revenue for the same period a year ago.

The Company also reported a net loss of $137,122 on $1.35 million
of total revenue for the six months ended June 30, 2011, compared
with a net loss of $99,683 on $1.05 million of total revenue for
the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $1.04 million
in total assets, $4.40 million in total liabilities, and a
$3.35 million total stockholders' deficit.

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

                        http://is.gd/asZNkA

                       About Green Endeavors

Salt Lake City, Utah-based Green Endeavors, Inc., runs two hair
care salons that feature Aveda(TM) products for retail sale.

As reported by the TCR on April 1, 2011, Madsen & Associates CPA',
Inc., in Salt Lake City, Utah, expressed substantial doubt about
the Company's ability to continue as a going concern.  The
accountants noted that the Company will need additional working
capital for its planned activity and to service its debt.


GREEN PLANET: ACE Now Holds 5.6% of Outstanding Common Shares
-------------------------------------------------------------
Green Planet Group, Inc., has become aware that 9,955,500 common
shares of its stock originally issued to Clifford Blake in
conjunction with the acquisition of certain assets from him and
other sellers in March 2009, and the subject of certain litigation
for rescission against Blake, have been transferred to ACE
American Insurance Company.  These shares were transferred
pursuant to a Judgment Against Garnishee Clifford Blake (Arizona
Superior Court CV2009-030709) by which ACE became the holder of
these restricted disputed shares for which the Company still seeks
rescission and cancellation.  As of Aug. 8, 2011, these shares
represent 5.6% of the outstanding shares of Green Planet Group,
Inc.

                         About Green Planet

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

As reported by the TCR on July 21, 2011, Semple, Marchal & Cooper,
LLP, in Phoenix, Ariz., says that Green Planet Group's significant
operating losses and negative working capital raise substantial
doubt about its ability to continue as a going concern.

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

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


GRUBB & ELLIS: Completes Sale of Daymark to IUC-SOV
---------------------------------------------------
Grubb & Ellis Company announced the sale of Daymark Realty
Advisors, Inc., to IUC-SOV, LLC, a joint venture entity controlled
by Sovereign Capital Management Group and Infinity Urban Century,
an investment affiliate of The Infinity Group.  Grubb & Ellis has
exited the tenant-in-common business with the disposition of its
wholly owned subsidiary.

Pursuant to the Purchase Agreement, the Company sold to Purchaser
all of the outstanding shares of Daymark in exchange for (1) a
cash payment of $500,000 from Purchaser and (2) the assumption by
Purchaser of $10,700,000 of the net intercompany balance payable
from the Company to NNN Realty Advisors, Inc., a wholly-owned
subsidiary of Daymark.

"The sale of Daymark is extremely positive for our company.
Daymark was noncore to our Real Estate Services and non-traded
REIT businesses.  This sale will allow us to focus on
profitability and growth, while continuing to review our broader
corporate strategic alternatives," said Thomas P. D'Arcy,
president and chief executive officer of Grubb & Ellis.

"We are very pleased to have completed our acquisition of Daymark,
which manages one of the most attractive portfolios of tenant-in-
common properties in the U.S., and we plan to use our knowledge of
the sector to enhance the company's competitive advantage and
performance in the marketplace," said Etienne Locoh, managing
partner of Infinity's Urban Century investment unit.  "We believe
that the investment acumen and capital markets relationships of
Sovereign Capital and Infinity Urban Century will strengthen this
platform with asset capital solutions and deep real estate
management experience."

Grubb & Ellis entered the tenant-in-common business as part of the
company's 2007 merger with NNN Realty Advisors, Inc.  Daymark is
one of the largest real estate asset management companies in the
country, serving more than 5,200 clients and overseeing a
nationwide portfolio of commercial property totaling approximately
33 million square feet, including more than 8,700 multifamily
units.

FBR Capital Markets & Co. served as financial advisor to Grubb &
Ellis in connection with the transaction.

In connection with the closing of the Transactions, the Company,
Daymark and each of Daymark's subsidiaries entered into an
Intercompany Balance Settlement and Release Agreement dated
Aug. 10, 2011.

A full-text copy of the Stock Purchase Agreement is available for
free at http://is.gd/7vSFCL

                          Promissory Note

The $5,000,000 principal amount of the Promissory Note issued by
the Company to NNNRA becomes due and payable on Aug. 10, 2016.
Interest accrues on the unpaid principal of the Promissory Note at
a rate equal to 7.95% per annum.  Accrued and unpaid interest on
the Promissory Note is payable on the last day of each calendar
quarter (commencing on Sept. 30, 2011) and on the Maturity Date.
The Company may prepay all or any portion of the Promissory Note
at any time without premium or penalty.  A full-text copy of the
Promissory Note is available for free at http://is.gd/jx0r5h

                               IBSRA

In connection with the closing of the Transactions, the Company,
Daymark and each of Daymark's subsidiaries entered into an
Intercompany Balance Settlement and Release Agreement dated
Aug. 10, 2011.

Pursuant to the IBSRA, Daymark and its subsidiaries released the
Company from, among other things, any and all claims, obligations,
contracts, agreements, debts and liabilities that Daymark and its
subsidiaries now have, have ever had or may in the future have
against the Company arising at the time of or prior to the Closing
or on account of or arising out of any matter, fact or event
occurring at the time of or prior to the Closing.  A full-text
copy of the IBSRA is available for free at http://is.gd/r5HetG

                   About Grubb & Ellis Company

Grubb & Ellis Company -- http://www.grubb-ellis.com/-- is one of
the largest and most respected commercial real estate services and
investment companies in the world. Our 5,200 professionals in more
than 100 company-owned and affiliate offices draw from a unique
platform of real estate services, practice groups and investment
products to deliver comprehensive, integrated solutions to real
estate owners, tenants and investors.  The firm's transaction,
management, consulting and investment services are supported by
highly regarded proprietary market research and extensive local
expertise.  Through its investment management business, the
company is a leading sponsor of real estate investment programs.

The Company's balance sheet at March 31, 2011, showed $256.53
million in total assets, $242.77 million in total liabilities,
$92.97 million in 12% cumulative participating perpetual
convertible preferred stock, and a $79.22 million total deficit.

The Company reported a net loss of $69.7 million on $575.5 million
of revenues for 2010, compared with a net loss of $80.5 million on
$527.9 million of revenues for 2009.


GSI GROUP: Second Quarter Revenue Up 18% to $85.7 Million
---------------------------------------------------------
GSI Group Inc. reported financial results for the second quarter
of 2011, ended July 1, 2011.

During the second quarter of 2011, GSI generated revenue of
$101.4 million, an increase of 18% from $85.7 million in the same
period a year ago.  The three reportable business segments of the
Company all experienced double digit growth in the second quarter,
compared to the same period a year before.

The Company recognized $4.2 million of net revenue in the second
quarter of 2011 that had been deferred under multi-element
arrangements entered into prior to the adoption of ASU 2009-13.
Specific to the Company's adoption of ASU 2009-13 in the first
quarter of 2011, the Company did not defer any revenue on new
orders placed in the quarter, related to multiple element
arrangements, delivered over multiple periods.

A full text copy of the company's second quarter results is
available free at http://ResearchArchives.com/t/s?76aa

                       About GSI Group Inc.

Headquartered in Bedford, Massachusetts, GSI Group Inc.
-- http://www.gsig.com/-- supplies precision technology to the
global medical, electronics, and industrial markets and
semiconductor systems.  GSI Group Inc.'s common shares are quoted
on Pink Sheets OTC Markets Inc. (LASR.PK).

GSI Group together with two of its subsidiaries filed for
Chapter 11 protection on Nov. 20, 2009 (Bankr. D. Del. Lead Case
No. 09-14110).  William R. Baldiga, Esq., at Brown Rudnick LLP,
represented the Debtors as lead counsel.  Mark Minuti, Esq., at
Saul Ewing LLP, represented the Debtors as its local counsel.  On
July 23, 2010, the Debtors consummated their reorganization
through a series of transactions contemplated by a Chapter 11
plan.   The Company's shareholders prior to the emergence from
bankruptcy retained approximately 86.1% of its capital stock
following emergence.

                           *     *     *

In November 2010, Standard & Poor's Ratings Services said that it
has affirmed its ratings, including the 'B' corporate credit
rating, on Assumption, Ill.-based GSI Group LLC.  At the same
time, S&P revised the outlook to stable from negative.

S&P said the ratings on GSI reflect the company's highly leveraged
financial profile, which more than offsets its weak business risk
profile.  GSI operates in cyclical and competitive niche
agricultural equipment markets and faces raw material cost
volatility.  The company's leading position in its niche markets
partially offsets these factors.  S&P expects its operating
performance to continue to recover in 2011, primarily on better
conditions in its end markets.


HALIFAX REGIONAL: Moody's Affirms Bond Rating at 'Ba3'
------------------------------------------------------
Moody's Investors Service has affirmed the Ba3 rating assigned to
Halifax Regional Medical Center's bonds. The outlook remains
negative.

RATINGS RATIONALE

The affirmation of the Ba3 rating reflects the progress management
has made in improving operating performance at Halifax over the
last several years. The maintenance of the negative outlook
reflects declining patient volumes, which resulted in slightly
negative revenue growth in FY 2010, high exposure to Medicare and
Medicaid, and the issuance of $6.5 million in additional debt to
fund renovations at the hospital.

STRENGTHS

* Cash position has remained good over the last few years,
  although this is due in part to low capital spending which has
  averaged only 0.5 times depreciation expense over the last five
  years

* Operating performance appears to have stabilized over the last
  few years, despite lower operating profitability through nine
  months 2011

* Other debt including notes and operating leases was paid down
  over the past year, somewhat mitigating the impact of the new
  loan to fund renovations (discussed below)

CHALLENGES

* Patient volumes have declined the last two years with combined
  admissions and observation stays declining 0.4% in FY 2009 and
  3.2% in FY 2010; admissions are also down through nine months FY
  2011, but positively, ED Visits, outpatient visits, and
  surgeries are flat in the interim period

* Small absolute size of the hospital makes it susceptible to
  physician departures, which have contributed to the variation in
  operating performance and patient volume fluctuations

* High exposure to Medicare and Medicaid, comprising a combined
  72% of patient volume in FY 2010

* North Carolina is reducing Medicaid rates by 7.3%; NC also
  passed provider assessment legislation which is expected to
  partially offset the decrease in Medicaid rates although
  provider fee program has not yet been approved by CMS

* New debt issuance of $6.5 million (40% increase) to fund
  renovations to the outpatient surgery area, parking lot, and
  other areas

DETAILED CREDIT DISCUSSION

LEGAL SECURITY: Bonds secured by a gross revenue pledge and
negative mortgage lien

INTEREST RATE DERIVATIVES: None

RECENT DEVELOPMENTS/RESULTS

Operating performance in FY 2010 was good with a 2.8% operating
margin and 7.3% operating cash flow margin, resulting in good
leverage metrics of 1.9 times debt to cash flow and Moody's
adjusted MADS coverage of 2.5 times. However, Moody's remains
concerned about the sustainability of this performance and
maintenance of the metrics in light of weakening patient volumes
and an increase in debt. Through nine months FY 2011 ending June
30, 2011 operating profitability is lower than the prior year with
an operating margin of 0.2% and weak operating cash flow margin of
4.1%. The downturn is due to a drop in patient volumes with
inpatient admissions falling a material 7.6% and higher expenses.
Moody's notes, positively, that other volume indicators including
surgeries and emergency department visits are flat.

Operating revenue in FY 2010 was essentially flat with a 0.1%
decline caused by a decline in patient volumes throughout the
hospital. Combined admissions and observation stays were down 3.2%
following a 0.5% decline in FY 2009 and other indicators including
emergency department visits, total surgeries, and outpatient
visits all showed declines of 5.2% to 11.2%. Although the volume
declines mirror declines throughout the country, the losses are
more acute at Halifax given its small size. The volume declines
are due to a variety of factors including continued economic
weakness in this part of North Carolina and physician turnover
challenges that have impacted certain specialties and required the
use of more expensive locum physicians. Management reports that
many key vacancies have been filled with some recruited physicians
having already started and others under contract to start over the
next few months. However, the challenges of recruiting and
retaining physicians have been an ongoing challenge for Halifax
and are not uncommon for hospitals of this size and location in a
rural area.

Halifax is adding $6.5 million of debt to fund renovations to the
surgical suites, registration area, parking lot, and other
renovations. The debt is being placed with BB&T and is interest
only for the first two years and must be refinanced after seven
years, in FY 2018. Halifax currently has a very low debt load at
only 15.2% of revenue and maintains a strong balance sheet for the
rating at 77 days cash on hand and 140% cash to debt through six
months FY 2011. Investments do include a 35% allocation to
equities suggesting that liquidity balances may decline if broader
financial markets continue to lose value. The new debt lowers the
cash-to-debt ratio to 99% at six months FY 2011. Unrestricted cash
and investment balances have steadily increased over the last
three years as a result of low capital spending, which has
averaged just 0.5 times since FY 2006. Capital spending not
supported by the $6.5 million debt issuance is expected to remain
at about $2 million- $3 million annually, which will help maintain
balance sheet strength so long as operating performance remains
profitable.
Outlook

The maintenance of the negative outlook reflects the challenges
facing the organization including maintaining an adequate medical
staff and stable operating margins over a multi-year time horizon.

WHAT COULD MAKE THE RATING GO UP

Stable or increasing patient volumes; stable operating performance
over several years; stable and consistent revenue growth

WHAT COULD MAKE THE RATING GO DOWN

Sustained operating losses or low levels of cash flow; patient
volume declines; decrease in operating revenue; weakening of
balance sheet position

KEY INDICATORS

Assumptions & Adjustments:

- Based on financial statements for Halifax Regional Medical
  Center, Inc., Clinics and Foundation

- First number reflects audit year ended September 30, 2009

- Second number reflects audit year ended September 30, 2010

- Debt in FY 2010 increased by $6.5 million

- MADS in FY 2010 increased $490,000 to reflect pro-forma debt
  service for $6.5 million of new debt

- Interest expense "grossed up" by $319,000 to reflect pro-forma
  interest expense on new debt

- Investment returns normalized at 6% unless otherwise noted

* Inpatient admissions: 7,915; 7,441

* Total operating revenues: $104.8 million; $104.7 million

* Moody's-adjusted net revenue available for debt service: $5.3
  million; $9.1 million

* Total debt outstanding: $16.9 million; $22.4 million

* Maximum annual debt service (MADS): $3.5 million; $4.0 million

* MADS Coverage with reported investment income: 1.3 times; 2.0
  times

* Moody's-adjusted MADS Coverage with normalized investment
  income: 2.6 times; 2.3 times

* Debt-to-cash flow: 3.8 times; 2.8 times

* Days cash on hand: 63 days; 85 days

* Cash-to-debt: 103%; 102%

* Operating margin: (0.9%); 2.8%

* Operating cash flow margin: 4.1%; 7.3%

RATED DEBT (debt outstanding as of September 30, 2010)

- Series 1998; fixed rate ($15.9 million outstanding) rated Ba3

CONTACT

Obligor: Sherry Jensen, Chief Financial Officer, (252) 535-8005

The last rating action with respect to Halifax Regional Medical
Center was on August 17, 2010 when the Ba3 rating was affirmed
with a negative outlook.

PRINCIPAL METHODOLOGY

The principal methodology used in this rating was Not-for-Profit
Hospitals and Health Systems published in January 2008.

Moody's adopts all necessary measures so that the information it
uses in assigning a rating is of sufficient quality and from
sources Moody's considers to be reliable including, when
appropriate, independent third-party sources. However, Moody's is
not an auditor and cannot in every instance independently verify
or validate information received in the rating process.

The date on which some ratings were first released goes back to a
time before Moody's ratings were fully digitized and accurate data
may not be available. Consequently, Moody's provides a date that
it believes is the most reliable and accurate based on the
information that is available to it.


HAMP HAVEN: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Hamp Haven Farms, a general partnership
        aka Hamphaven Farms
        fdba dba HHF Construction
        15908 San Road
        Reedsville, WI 54230

Bankruptcy Case No.: 11-32547

Chapter 11 Petition Date: August 12, 2011

Court: United States Bankruptcy Court
       Eastern District of Wisconsin (Milwaukee)

Debtor's Counsel: Paul G. Swanson, Esq.
                  STEINHILBER, SWANSON, MARES, MARONE & MCDERMOTT
                  107 Church Avenue
                  P.O. Box 617
                  Oshkosh, WI 54903-0617
                  Tel: (920) 426-0456
                  E-mail: pswanson@oshkoshlawyers.com

Scheduled Assets: $4,849,347

Scheduled Debts: $8,321,329

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/wieb11-32547.pdf

The petition was signed by Thomas L. Braun, partner.

Affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Wolfgang Dairy, LLC                    11-32549   08/12/11


HARRY & DAVID: Expects to Emerge From Bankruptcy in Coming Weeks
----------------------------------------------------------------
Laura Gunderson at OregonLive.com reports that Harry & David said
it expects to emerge from bankruptcy in coming weeks, after
shedding much of its debt, 52 of its retail stores and the
pensions of 2,700 of its current and former employees.

According to the report, the pension move, the Oregon-based
retailer has said, was necessary.  It also contends that putting
the Pension Benefit Guaranty Corp. in control of plans ensures
that the majority of workers will receive their retirement
benefits.

The report says yet analysts and academics specializing in pension
policy say such decisions aren't healthy for anyone and further
stress an agency that has seen its load of passed-on pensions
increase throughout the recession.

As reported in yesterday's edition of the TCR, Harry and David has
reached an agreement with the PBGC relating to the termination of
the Company's pension plan and the treatment of the PBGC's
claim under the Company's Chapter 11 Plan of Reorganization.  The
agreement, which is subject to the execution of definitive
documentation, will provide the Company with a clear path to
emerge from Chapter 11 in the near future.  At a hearing held on
August 11, 2011, the Bankruptcy Court overseeing the Company's
Chapter 11 case indicated that it would confirm the Plan, subject
to final documentation of the settlement with the PBGC.  An ad hoc
committee of holders of the Company's public notes and the
Official Committee of Unsecured Creditors in the Company's Chapter
11 case both support the implementation of the settlement as part
of the Plan.

                        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.


HAWAII MEDICAL: Dianne Okumura Approved as Patient Care Ombudsman
-----------------------------------------------------------------
The Hon. Robert J. Faris of the U.S. Bankruptcy Court for the
District of Hawaii approved the appointment of Dianne Okumura
doing business as T.B.H. LLC, as patient care ombudsman in the
Chapter 11 case of Hawaii Medical Center.

Ms. Okumura was formerly chief, Office of Health Care Assurance,
State of Hawaii Department of Health whose mission was to ensure
the health, safety and welfare of all individuals receiving
services at all health care facilities within the State of Hawaii
and the Pacific Region (including American Samoa, Guam, and
Saipan).

According to Tiffany L. Carroll, Acting U.S. Trustee, Ms. Okumura
served as the patient care ombudsman in the previous Chapter 11
cases involving the same Debtors.

Ms. Okumura is expected to, among other things:

   1) monitor the quality of patient care provided to patients of
   the Debtor, to the extent necessary under the circumstances,
   including interviewing patients and physicians;

   2) not later than 60 days after the date of appointment, and
   not less frequently than at 60-day intervals thereafter,
   report to the court after notice to the parties in interest, at
   a hearing or in writing, regarding the quality of patient
   care provided to patients of the Debtor; and

   3) if the ombudsman determines that the quality of patient
   care provided to patients of the debtor is declining
   significantly or is otherwise being materially compromised,
   file with the court a motion or a written report, with notice
   to the parties in interest immediately upon making such
   determination.

                    About Hawaii Medical Center

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

Judge Robert J. Faris presides over the 2011 case.  Lawyers at
Moseley Biehl Tsugawa Lau & Muzzi, in Honolulu, Hawaii, and
McDonald Hopkins LLC, in Cleveland, Ohio, serve as the Debtors'
counsel.  The Debtor's professionals include: Scouler
& Company LLC as financial advisors; Krieg DeVault LLP as special
compliance counsel.

Hawaii Medical Center disclosed $74,713,475 in assets and
$91,112,280 in liabilities as of the Chapter 11 filing.  The
petitions were signed by Kenneth J. Silva, member of the board of
directors.

Tiffany L. Carroll, Acting U.S. Trustee for Region 15, appointed
five members to the Official Committee of Unsecured Creditors in
the Debtors' cases.  Attorneys at Wagner Choi & Verbrugge, in
Honolulu, Hawaii, and Pachulski Stang Ziehl & Jones LLP, in Los
Angeles, represent the Official Committee of Unsecured Creditors
as counsel.

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

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

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

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


HAWKER BEECHCRAFT: Issues RSUs to Named Executive Officers
----------------------------------------------------------
Hawker Beechcraft, Inc., and Hawker Beechcraft Notes Company
entered into a Restricted Stock Unit Agreement with each of the
Company's current named executive officers, pursuant to which
grants of restricted stock units were issued.  The RSUs were
issued in exchange for stock options held by the Named Executive
Officers.  The exchanges were made pursuant to an Offer to
Exchange Outstanding Options for New Restricted Stock Units that
was made by HBI to all of its optionholders.

Pursuant to the Exchange Offer, each Named Executive Officer was
offered the right to exchange each of his outstanding Options on a
1.75-to-1 basis.  For every 1.75 shares of common stock of the
Company that was subject to an eligible Option that was
surrendered, one RSU was issued.  The number of Options exchanged
for RSUs by the Named Executive Officers is as follows:

                            Options Surrendered   RSUs Granted
                            -------------------   ------------
   Bill Boisture                1,643,750           939,286
   Shawn Vick                     337,500           192,857
   Bill Brown                     305,294           174,454
   Jim Maslowski                  170,000            97,143

The RSU Agreement provides that, subject to the Named Executive
Officer's continued employment through the applicable date of
accrual, the RSUs will accrue 20% per year commencing on the
vesting commencement date of the Options exchanged for those RSUs.
RSUs will be deemed fully accrued upon a Change in Control or a
Qualifying Sale.  In the event of an involuntary termination due
to the Named Executive Officer's death or disability, the Named
Executive Officer will become accrued in an additional 20% of the
RSUs and any additional RSUs that have not been accrued will be
forfeited.

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

                        http://is.gd/Wd4Qja

                      About Hawker Beechcraft

Hawker Beechcraft Acquisition Company, LLC, headquartered in
Wichita, Kan., is a manufacturer of business jets, turboprops and
piston aircraft for corporations, governments and individuals
worldwide.

The Company's balance sheet at March 31, 2011, showed $3.121
billion in total assets, $3.396 billion in total liabilities, and
deficit of $275.5 million.

Hawker Beechcraft reported a net loss of $304.3 million on $2.80
billion of total sales for 12 months ended Dec. 31, 2010.  Net
loss in 2009 and 2008 was $451.3 million and $157.2 million,
respectively.

To reduce the cost of operations, in October 2010, the Company
announced it would implement a cost reduction and productivity
program.  The first part of the program consisted of the immediate
termination of approximately 8% of salaried employees while the
second part involves reducing the Company's factory and shop work
forces by approximately 800 employees by end of August 2011.

                         *     *     *

Hawker Beechcraft carries 'Caa2' corporate family and probability
of default ratings from Moody's Investors Service.


HCA HOLDINGS: Bank Debt Trades at 5% Off in Secondary Market
------------------------------------------------------------
Participations in a syndicated loan under which HCA, Inc., is a
borrower traded in the secondary market at 94.57 cents-on-the-
dollar during the week ended Friday, Aug. 12, 2011, a drop of 4.27
percentage points from the previous week according to data
compiled by Loan Pricing Corp. and reported in The Wall Street
Journal.  The Company pays 225 basis points above LIBOR to borrow
under the facility.  The bank loan matures on Nov. 6, 2013, and
carries Moody's 'Ba3' rating and Standard & Poor's 'BB' rating.
The loan is one of the biggest gainers and losers among 72 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

                             About HCA

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 twelve months ended
Sept. 30, 2010, the company recognized revenue in excess of $30
billion.

The Company's balance sheet at March 31, 2011, showed $23.81
billion in total assets, $31.59 billion in total liabilities, and
a $7.78 billion stockholders' deficit.

                          *     *     *

As reported by the Troubled Company Reporter on July 29, 2011,
Moody's assigned a Ba2 (LGD 2, 27%) rating to HCA, Inc.'s offering
of senior secured first lien notes due 2020 and a B3 (LGD 5, 88%)
rating to the company's offering of senior unsecured notes due
2022. Moody's understands that proceeds from the offerings will be
used to fund the call of a portion of the company's second lien
notes.  Therefore, while Moody's does not expect any meaningful
change in the overall leverage of the company, certain LGD loss
estimates will be revised to reflect the reduction of second lien
debt from HCA's capital structure based on the ultimate amount
redeemed and the allocation of secured and unsecured debt raised
in this offering.  HCA's B1 Corporate Family and Probability of
Default Ratings remain unchanged.  The outlook for the ratings is
stable.

HCA's B1 Corporate Family Rating reflects Moody's expectation that
the company will continue to operate with significant leverage.
Furthermore, the company has large debt maturities in future
periods, although the proposed note offering and call of a portion
of the second lien notes continues the progress to push those
maturities out. The rating also reflects Moody's consideration of
HCA's scale and position as the largest for-profit hospital
operator, which should aid in providing access to resources needed
in adapting to changes in the sector brought on by healthcare
reform legislation and aid in the company's ability to weather
industry pressures.  Finally, the rating incorporates Moody's
expectation that the company will take a more conservative
approach to the use of additional debt for shareholder initiatives
and continue to improve credit metrics through both EBITDA growth
and debt repayment.

On July 28, 2011, the TCR reported that Standard & Poor's assigned
HCA Inc.'s proposed $500 million senior notes due 2020 a 'BB'
issue-level rating.  "We also assigned the notes a debt recovery
rating of '1', indicating a very high (90% to 100%) recovery for
lenders in the event of a payment default," S&P related.

"At the same time, we assigned a rating of 'B-' to HCA's proposed
$500 million senior unsecured notes due 2022 and a recovery rating
of '6', indicating a negligible (0% to 10%) recovery for lenders
in the event of a payment default.  The company plans to use the
proceeds to refinance a portion of its existing second-lien debt,"
S&P said.

The speculative-grade rating on HCA reflects uncertain prospects
for third-party reimbursement, its highly leveraged financial risk
profile, and its historically aggressive financial policies.  It
also reflects recent weakness in earnings, influenced by an
adverse shift in service mix to less acute medical cases.  Still,
the company's relatively diversified portfolio of 164 hospitals
and 111 ambulatory surgery centers, generally favorable positions
in its competitive markets, and experienced management team
partially mitigate these risks and contribute to our assessment
that HCA has a fair business risk profile.  These factors help
protect the company from conditions that confront several of its
far smaller peers.


HOLDINGS GAMING: Hiked by Moody's to 'Caa2' on Improved Liquidity
-----------------------------------------------------------------
Moody's Investors Service raised Holdings Gaming Borrower L.P.'s
Corporate Family ratings and Probability of Default ratings to
Caa2 from Caa3. Concurrently, Moody's upgraded the company's
$303.5 million first lien term loan to B3 from Caa1. The ratings
outlook is stable.

The rating action is:

- Corporate Family Rating to Caa2 from Caa3

- Probability of Default Rating to Caa2 from Caa3

- $303.5 million first lien term loan due June 2015 to B3 (LGD2,
  24%) from Caa1 (LGD2, 21%)

Ratings Rationale

The upgrade of HGB's Corporate Family rating (CFR) to Caa2 from
Caa3 reflects HGB's better than expected operating performance and
improved liquidity profile. HGB's ramp up of its sole property,
River's Casino, met expectations despite the weak economy. In the
last twelve months ended June 30, 2011 EBITDA grew by
approximately 50% from FY 2010 levels as a result of greater
revenue and EBITDA contributions from table games, which helped
drive overall operating performance. While Moody's anticipates
growth in table games to level off following the conclusion of the
initial ramp up period, Moody's doesn't expect significant
deterioration in HGB's operating performance given the company's
established market position. Based on current run-rate cash flow
generation Moody's expects the company will have sufficient
liquidity to meet its cash fixed charges over the intermediate
term. As a result, near-term payment default has moderated.

Despite the improved operating performance and short term
liquidity, uncertainly about the company's future capital
structure remains. The Caa2 CFR reflects HGB's significant
financial leverage -- Moody's adjusted debt/EBITDA was above 10
times at June 30, 2011 (incorporating Moody's 100% debt treatment
for Sr. Preferred Interests and Unsecured Notes) -- and is
expected to remain high in the intermediate term due to the
company's very high interest which is currently paid-in-kind.
Based on Moody's current estimates, HGB will likely need to
further restructure its debt (including the junior debt) in order
to make its capital structure more sustainable.

Moody's rates HGB's senior secured first lien term loan at B3.
This is one notch below the rating otherwise indicated by Moody's
Loss Given Default Methodology. Based on Moody's recovery
analysis, the B3 rating more accurately reflects the expected loss
characteristics of the first lien term loan in the event of
default.

The stable rating outlook considers HGB's solid liquidity profile.
Moody's anticipates the company will generate sufficient cash
flows that will more than offset its cashl-based fixed charges in
the next 12-18 months.

Given HGB's current capital structure, Moody's does not anticipate
upward rating momentum in the near term until the company has
addressed the high PIK component and high cost of its capital
structure. Ratings could be downgraded if HGB's suffers a decline
in operating performance or its liquidity deteriorates for any
reason, as this would elevate the risk of a payment default.

Holdings Gaming Borrower, LP ("HGB") owns and operates the Rivers
Casino, which opened on August 9, 2009 in Pittsburgh,
Pennsylvania. The casino feature approximately 3,000 slot
machines, 107 table games, 9 bars and restaurants, and 1,000 seat
outdoor amphitheater.

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


HORNE INTERNATIONAL: Reports $739,000 Net Income in 2nd Quarter
---------------------------------------------------------------
Horne International, Inc. filed its quarterly report on Form 10-Q,
reporting net income of $739,000 on $1.3 million of revenues for
the three months ended June 26, 2011, compared with a net loss of
$260,000 on $850,000 of revenues for the three months ended
June 27, 2010.

The Company recognized $1.08 million in net income in the 2nd
quarter of 2011 from a judgment in the matter of Spectrum Sciences
and Software, Inc. vs. The United States, Case Number 04-l366C.

The Company reported net income of $474,000 on $2.3 million of
revenues for the six months ended June 26, 2011, compared with a
net loss of $808,000 on $1.8 million of revenues for the six
months ended June 27, 2010.

The Company's balance sheet as of June 26, 2011, showed
$1.5 million in total assets, $1.9 million in total liabilities,
and a stockholders' deficit of $389,000.

Stegman & Company, in Baltimore, Md., expressed substantial
doubt about the Company's ability to continue as a going concern,
following the Company's 2010 results.  The independent auditors
noted that the Company has experienced continuing net losses for
each of the last four years and as of Dec. 26, 2010, current
liabilities exceeded current assets by $1.0 million.

A copy of the Form 10-Q is available at http://is.gd/g0vuZ8

Fairfax, Va.-based Horne International, Inc., is an engineering
services company focused on provision of integrated, systems
approach based solutions to the energy and environmental sectors.


HOSPITAL DAMAS: Settles PRHS Claim for $356,000
-----------------------------------------------
Hospital Damas, Inc. and its creditor, Puerto Rico Hospital
Supply, Inc., have agreed to settle and compromise the dispute
with respect to PRHS' Claim No. 55.

The Debtor and PRHS concur that the total amount owing by the
Debtor for the prepetition purchase of services and supplies is
$673,437.  The amount will be subdivided -- (i) $536,545 for
services and products under five certain executory contracts and
(ii) $136,892 for the purchase of miscellaneous supplies outside
the scope of the five executory contracts.

The Debtor desires to assume or renew these executory contracts
with PRHS:

   (a) The X-ray and related products and services contract
       executed on April 10, 2010 and valid through April 9, 2013;

   (b) The "atados" Customed Packs contract executed on May 1,
       2009 and valid through April 30, 2012;

   (c) The Ethicon Sut/ethicon and ethicon endo contract executed
       on June 1, 2008 and valid through May 31, 2011, which is
       renewed pursuant to its terms;

   (d) The case cart cardiovascular surgery, materials and
       services contract originally executed on September 1, 2007
       and valid through August 31, 2010, but which the parties
       by their conduct and dealings have effectively extended;

   (e) The 3M contract for medical surgical supplies and services,
       executed on July 8, 2008 and valid through June 30, 2009,
       but which the parties by their conduct and dealings have
       effectively extended from year to year.

The Debtor agrees to pay $356,000 to cure all prepetition amounts
owing to PRHS under the assumed executory contracts -- instead of
the total $536,545 the parties both recognize as being owed under
the Contracts as of the Petition Date.

The difference between the prepetition debt of $673,435 and the
agreed amount of $356,000 for the prepetition executory contract
claims will be considered a discount offered by PRHS to the Debtor
to assist in its reorganization and in consideration of the
assumption of the Contracts.  PRHS waives its right to claim a
dividend payment for the difference, even as a general unsecured
claim.

                       About Hospital Damas

Ponce, Puerto Rico-based Hospital Damas, Inc., filed for Chapter
11 bankruptcy protection (Bankr. D. P.R. Case No. 10-08844) on
Sept. 24, 2010.  Charles A. Cuprill-Hernandez, Esq., at Charles A.
Cuprill, P.S.C., Law Offices, serves as the Debtor's bankruptcy
counsel.  In October 2010, the United States Trustee appointed
five creditors to serve on the Official Committee of Unsecured
Creditors of the Debtor.  Todd C. Meyers, Esq., and Colin M.
Bernardino, Esq., at Kilpatrick Stockton LLP, represents the
Committee as legal counsel, and Edgardo Munoz, Esq., at Edgardo
Munoz, PSC, serves the Committee as local counsel.  In its
schedules, the Debtor disclosed US$24,017,166 in total assets and
US$21,267,263 in total liabilities as of the Petition Date.


HRD CORPORATION: Web of Lawsuit Prompted Chapter 11 Filing
----------------------------------------------------------
Melissa McEver at Houston Business Journal reports that HRD Corp.,
filed for bankruptcy amid a web of lawsuits over contract breaches
and patent disputes -- and increasing mud-slinging.

HRD Corp. owes Dow Chemical Co. $68 million, and a chemist who
once worked for the Company more than $20 million.  Court records
show that the $20 million is owed to Ebrahim Bagherzadeh.

HRD filed a Chapter 11 petition (Bankr. S.D. Tex. Case No.
11-36020) on July 12, 2011.  Barbara Mincey Rogers, Esq., at
Rogers & Anderson, PLLC, in Houston, serves as counsel to the
Debtor.

In its petition, the Debtor scheduled $6.7 million in assets and
$105 million in liabilities.  There is no secured debt.  An
affiliate in India is owed $14 million.


HUDSON HEALTHCARE: To Sell Hoboken Medical to Bayonne Owner
-----------------------------------------------------------
Ray Smith at the Hudson Report says the Hoboken Municipal Hospital
Authority moved a step closer to selling Hoboken University
Medical Center to HUMC Holdco, a private group that also owns
Bayonne Medical Center.

According to the report, the state Health Planning Board
unanimously voted in Trenton to recommend to the Commissioner of
Health that a Certificate of Need be issued and the sale be
approved.  The issuing of a Certificate of Need is essentially the
final step in a hospital transaction.

The Hudson Report says the Department of Health and Senior
Services issued a staff report recommending the Planning Board
approve the sale with certain conditions.  One of the conditions
is that the new owners keep current contracts with insurance
providers for 12 months.

The report says, before the board could vote on that condition,
Phillip Schaengold, the chief transition officer for HUMC Holdco,
told them that if they required the group to keep the current
insurance contracts, the potential owners would walk away from the
deal.

The report relates that Geoff Teed, the founding partner and
president of Paradigm Physician Partners in Connecticut, a bidder
who ultimately did not receive the nod, has disputed the
statement.  Mr. Teed said at the hearing that his offer remains on
the table.

The report notes Hospital Authority Chairwoman Toni Tomarazzo said
Mr. Teed's offer didn't have the financing for the sale.

Mayor Dawn Zimmer wanted the hospital to be sold to private owners
who would keep it as a hospital.  Holdco has pledged to maintain
it as a hospital for at least seven years.  The proposed
transaction totals $91.7 million in deal considerations, including
a $51.6 million cash payment to extinguish the city's bond
guarantee.

The report says the new deal will extinguish the city's
$52 million bond guarantee, and remove the city from the
hospital's operations.

The new owners have pledged to put $20 million in capital
improvements in the hospital.

                  About Hudson Healthcare

Hudson Healthcare Inc. is the nonprofit operator of Hoboken
University Medical Center in Hoboken, New Jersey.

Hudson Healthcare filed for Chapter 11 protection (Bankr. D. N.J.
Case No. 11-33014) in Newark on Aug. 1, 2011, estimating assets
and debt of less than $50 million.  Attorneys at Trenk,
Dipasquale, Webster, et al., serve as counsel to the Debtor.

Affiliate Hoboken Municipal Hospital Authority also sought Chapter
11 protection.


IA GLOBAL: Delays Form 10-K Due as Japanese Units Audit Pending
---------------------------------------------------------------
IA Global, Inc., announced that the Company was not able to timely
file its annual report on Form 10-K for the fiscal year ended
March 31, 2011, which was originally due to be filed with the SEC
by June 29, 2011.  The Company has experienced delays in
completing the audits of it Japanese subsidiaries, Zest
Corporation Co Ltd, Zest Home Co Ltd and Johnny Co Ltd.  These
delays are due primarily to administrative complications including
the logistical challenges in performing a full audit in Japan.
The Company is actively engaged in working with its independent
registered accountants and expects to make the filing of its
Annual Report on Form 10-K as soon as practicable.

In addition, the Company's quarterly filing for the fiscal quarter
ended June 30, 2011, on Form 10-Q is also expected to be delayed.

                          About IA Global

San Francisco, Calif.-based IA Global, Inc. (OTCQB: IAGI.OB)
-- http://www.iaglobalinc.com/-- is a global services and
outsourcing company focused on growing existing businesses and
expansion through global mergers and acquisitions.  The Company is
utilizing its current partnerships to acquire growth businesses in
target sectors and markets at discounted prices.  The Company is
actively engaging in discussions with businesses that would
benefit from our business acumen and marketing expertise,
knowledge of Asian Markets, and technology infrastructure.

The Company's balance sheet at Dec. 31, 2010 showed $21.51 million
in total assets, $19.14 million in total liabilities and $2.37
million in total stockholders' equity.

As reported in the Troubled Company Reporter on July 20, 2010,
Sherb & Co., LLP, in New York, expressed substantial doubt about
the Company's ability to continue as a going concern, following
the Company's results for the fiscal year ended March 31, 2010.
The independent auditors noted that the Company has incurred
significant operating losses, and has a working capital deficit as
of March 31, 2010.


INDEPENDENCE TAX: Incurs $4.6-Mil. Net Loss in June 30 Quarter
--------------------------------------------------------------
Independence Tax Credit Plus L.P. II filed with the U.S.
Securities and Exchange Commission its quarterly report on Form
10-Q reporting a net loss of $4.64 million on $1.50 million of
total revenue for the three months ended June 30, 2011, compared
with a net loss of $751,129 on $1.53 million of total revenue for
the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $15.73
million in total assets, $47.74 million in total liabilities and a
$32.01 million total partners' deficit.

At June 30, 2011, the Partnership's liabilities exceeded assets
and for the three months ended June 30, 2011, incurred net loss.
These factors raise substantial doubt about the Partnership's
ability to continue as a going concern.

As reported by the TCR on June 30, 2011, Trien Rosenberg Weinberg
Ciullo & Fazzari LLP, in New York, expressed substantial doubt
about the Company's ability to continue as a going concern.  The
independent auditors noted that at March 31, 2011, the
Partnership's liabilities exceeded assets by $27,415,490 and for
the year then ended incurred net income of $15,984,571, including
gain on sale of properties of $20,284,069 and loss on impairment
of properties of $1,047,336.  Partnership management fees of
approximately $4,930,000 will be payable out of sales or
refinancing proceeds only to the extent of available funds after
payments on all other Partnership liabilities have been made and
after the Limited Partners have received a 10% return on their
capital contributions.  As such, the General Partner cannot demand
payment of these deferred fees beyond the Partnership's ability to
pay them.  In addition, where the Partnership has unpaid
partnership management fees related to sold properties, such
management fees are written off and recorded as capital
contributions.

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

                        http://is.gd/ak3rKC

            About Independence Tax Credit Plus L.P. II

Based in New York, Independence Tax Credit Plus L.P. II was
organized on Feb. 11, 1992, and commenced its public offering on
Jan. 19, 1993.  The general partner of the Partnership is Related
Independence Associates L.P., a Delaware limited partnership.  The
general partner of Related Independence Associates L.P. is Related
Independence Associates Inc., a Delaware Corporation.  The
ultimate parent of Related Independence Associates L.P. is
Centerline Holding Company.

The Partnership's business is primarily to invest in other
partnerships owning leveraged apartment complexes that are
eligible for the low-income housing tax credit enacted in the Tax
Reform Act of 1986, some of which may also be eligible for the
historic rehabilitation tax credit.

The Partnership is in the process of developing a plan to dispose
of all of its investments.


INNOLOG HOLDINGS: Delays Filing of Quarterly Report on Form 10-Q
----------------------------------------------------------------
Innolog Holdings Corporation informed the U.S. Securities and
Exchange Commission that it will be late in filing its quarterly
report on Form 10-Q for the period ended June 30, 2011, because it
does not yet have all the information it needs to complete the
preparation of its financial statements.

                       About Innolog Holdings

Fairfax, Virginia-based Innolog Holdings Corporation is a holding
company designed to make acquisitions of companies in the
government services industry.  The Company's first acquisition,
Innovative Logistics Techniques, Inc., is a solutions oriented
provider of logistics services primarily to agencies of the U.S.
government, but also to state and local agencies and to private
businesses.

As reported by the TCR on May 26, 2011, Spector & Associates, LLP,
inPasadena, California, expressed substantial doubt about the
Company's ability to continue as a going concern.

The Company reported a net loss of $5.79 million on $5.81 million
of revenue for the year ended Dec. 31, 2010, compared with a net
loss of $2.81 million on $5.93 million of revenue for the period
from March 23, 2009, through Dec. 31, 2009.

The Company's balance sheet at March 31, 2011, showed $791,341 in
total assets, $9.68 million in total liabilities, all current, and
a $8.89 million total stockholders' deficiency.


INTERNATIONAL TEXTILE: Incurs $13.8 Million Net Loss in Q2
----------------------------------------------------------
International Textile Group, Inc., filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q,
reporting a net loss of $13.80 million on $175.71 million of net
sales for the three months ended June 30, 2011, compared with a
net loss of $6.05 million on $161.55 million of net sales for the
same period a year ago.

The Company also reported a net loss of $25.74 million on
$333.70 million of net sales for the six months ended June 30,
2011, compared with a net loss of $17.20 million on $308.91
million of net sales for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $481.50
million in total assets, $611.60 million in total liabilities and
a $130.10 million total stockholders' deficit.

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

                        http://is.gd/bCVW9E

                    About International Textile

International Textile Group, Inc., is a global, diversified
textile manufacturer headquartered in Greensboro, North Carolina,
with current operations principally in the United States, China,
Mexico, and Vietnam.  ITG's long-term focus includes the
realization of the benefits of its global expansion, including
reaching full production at ITG facilities in China and Vietnam,
and continuing to seek other strategic growth opportunities.

The Company reported a net loss of $46.30 million on $616.13
million of net sales for the year ended Dec. 31, 2010, compared
with a net loss of $216.97 million on $659.26 million of net sales
during the prior year.


INTERTAPE POLYMER: Reports $3.8-Mil. Net Earnings in 2nd Qtr.
------------------------------------------------------------
Intertape Polymer Group Inc. reported net earnings of
US$3.81 million on US$209.74 million of revenue for the three
months ended June 30, 2011, compared with a net loss of
US$2.53 million on US$180.27 million of revenue for the same
period during the prior year.

The Company also reported net earnings of US$3.77 million on
US$402.36 million of revenue for the six months ended June 30,
2011, compared with a net loss of US$7.29 million on US$353.39
million of revenue for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed US$498.87
million in total assets, US$346.19 million in total liabilities
and US$152.68 million in shareholders' equity.

"The positive performance we realized during the second quarter
reflects the successful execution of our strategic plan.  The
progress achieved is the result of an improved industry pricing
environment, continued internal efforts to reduce manufacturing
costs, as well as the contribution of higher-margin products in
our mix.  While we have regained some pricing power in recent
months due to improved market dynamics, the spread between selling
prices and raw material costs remains well below our historical
and target levels," stated Intertape President and Chief Executive
Officer, Greg Yull.

A full-text copy of the press release announcing the financial
results is available for free at http://is.gd/8VMcbY

                    About Intertape Polymer Group

Intertape Polymer Group Inc. (TSX:ITP) (NYSE:ITP) develops and
manufactures specialized polyolefin plastic and paper based
packaging products and complementary packaging systems for
industrial and retail use.  Headquartered in Montreal, Quebec and
Sarasota/Bradenton, Florida, the Company employs approximately
2,100 employees with operations in 17 locations, including 13
manufacturing facilities in North America and one in Europe.

The Company reported a net loss of US$56.44 million on US$720.51
million of sales for the year ended Dec. 31, 2010, compared with a
net loss of US$14.39 million on US$615.46 million during the prior
year.

                         *     *     *

In August 2010, Moody's Investors Service revised the rating
outlook on Intertape Polymer Group Inc. to negative from stable
and affirmed the B2 Corporate Family Rating.  Moody's also
affirmed the SGL-3 speculative grade liquidity rating and
instrument ratings.  Moody's said the B2 Corporate Family Rating
reflects Intertape's narrow operating margins, lack of pricing
power, largely commoditized product line and reliance on cyclical
end markets, such as industrial, building and construction
segments.  Intertape is operating in a fragmented and highly
competitive industry.  The presence of large competitors with
significant financial resources restricts Intertape's ability to
recover raw material increases from customers and constrains the
rating.

In July 2010, Standard & Poor's Ratings Services revised its
outlook on Intertape Polymer Group to positive from negative and
affirmed its ratings, including its 'CCC+' corporate credit
rating, on the Company and its subsidiary IntertapePolymer U.S.
Inc.  "The outlook revision reflects some improvement in the
company's liquidity position and S&P's expectation that the
improvement to the financial profile will continue into the next
several quarters," said Standard & Poor's credit analyst Paul
Kurias.


ISTAR FINANCIAL: To Conduct Annual "Say on Pay Vote"
----------------------------------------------------
At iStar Financial Inc.'s 2011 annual meeting, the majority of
shareholders voted in favor of holding an annual shareholder
advisory (non-binding) vote on compensation of the Company's named
executive officers and other named officers.  Based on these
results, the Company's Board of Directors has determined that the
Company will conduct an annual "Say on Pay Vote" until the next
required vote on the frequency of the "Say on Pay Vote."

                       About iStar Financial

New York-based iStar Financial Inc. (NYSE: SFI) provides custom-
tailored investment capital to high-end private and corporate
owners of real estate, including senior and mezzanine real estate
debt, senior and mezzanine corporate capital, as well as corporate
net lease financing and equity.  The Company, which is taxed as a
real estate investment trust, provides innovative and value added
financing solutions to its customers.

The Company's balance sheet at June 30, 2011, showed $8.29 billion
in total assets, $6.55 billion in total liabilities, and
$1.74 billion in total equity.

                           *     *     *

As reported by the TCR on March 29, 2011, Fitch Ratings has
upgraded the Issuer Default Rating to 'B-' from 'C'.
The upgrade of iStar's IDR is based on the improved liquidity
profile of the company, pro forma for the new senior secured
credit agreement (the new financing) that extends certain of the
company's debt maturities, relieving the overhang of significant
secured debt maturities in June 2011.

In July 2010, Standard & Poor's Ratings Services lowered its long-
term counterparty credit rating on iStar Financial to 'CCC' from
'B-'.  The outlook is negative.  iStar's limited funding
flexibility and the severe credit quality deterioration in its
loan portfolio continue to put negative pressure on the rating,
S&P said.

As reported by the Troubled Company Reporter on March 22, 2011,
Standard & Poor's said that it raised its counterparty credit
rating on iStar Financial Inc. to 'B+' from 'CCC' and removed it
from CreditWatch where it was placed with positive implications on
Feb. 23.  The outlook is stable.

"The upgrade reflects the company's closing of a $2.95 billion
senior secured credit facility, which it will use to refinance the
company's existing secured bank facilities and repay a portion of
the company's unsecured debt," said Standard & Poor's credit
analyst Jeffrey Zaun.  If S&P's analysis of the new secured
facility indicates 100% or more collateral coverage, S&P will rate
the issue 'BB-'.  If S&P's analysis of collateral indicates less
than 100% coverage, S&P will rate the issue 'B+'.


ISTAR FINANCIAL: Barry Ridings Elected to Board of Directors
------------------------------------------------------------
The Board of Directors of iStar Financial Inc. has elected Barry
W. Ridings to serve as a member of the Board, effective
immediately, for an initial term ending on the date of the 2012
annual meeting of stockholders.  Mr. Ridings has also been
appointed to serve as a member of the compensation committee of
the Board of Directors.

Mr. Ridings, age 59, is a managing director and vice chairman of
U.S. investment banking of Lazard Freres & Co. LLC, a global, full
service investment bank which he joined in July 1999.  Mr. Ridings
has over 35 years of experience in debt and equity offerings,
mergers and acquisitions and corporate restructurings.  Mr.
Ridings is a director of Siem Industries Inc. (a company with
interests in oil, gas and shipping).  Lazard Freres provided
financial advisory services to the Company in connection with the
refinancing of its secured credit facilities for which Lazard
Freres received aggregate fees of approximately $8.3 million since
Jan. 1, 2010.  The refinancing was completed in March 2011.

Mr. Ridings is on the advisory council for the Cornell University
Johnson Graduate School of Business.  He is a trustee of the Mu of
Delta Kappa Epsilon Foundation, a charitable fraternal
organization associated with Colgate University, a trustee of The
Montclair Kimberley Academy and a director of the Catholic
Charities of the Archdiocese of New York.  Mr. Ridings has an
M.B.A. in Finance from Cornell University and a B.A. in Religion
from Colgate University.

                       About iStar Financial

New York-based iStar Financial Inc. (NYSE: SFI) provides custom-
tailored investment capital to high-end private and corporate
owners of real estate, including senior and mezzanine real estate
debt, senior and mezzanine corporate capital, as well as corporate
net lease financing and equity.  The Company, which is taxed as a
real estate investment trust, provides innovative and value added
financing solutions to its customers.

The Company's balance sheet at June 30, 2011, showed $8.29 billion
in total assets, $6.55 billion in total liabilities, and
$1.74 billion in total equity.

                           *     *     *

As reported by the TCR on March 29, 2011, Fitch Ratings has
upgraded the Issuer Default Rating to 'B-' from 'C'.
The upgrade of iStar's IDR is based on the improved liquidity
profile of the company, pro forma for the new senior secured
credit agreement (the new financing) that extends certain of the
company's debt maturities, relieving the overhang of significant
secured debt maturities in June 2011.

In July 2010, Standard & Poor's Ratings Services lowered its long-
term counterparty credit rating on iStar Financial to 'CCC' from
'B-'.  The outlook is negative.  iStar's limited funding
flexibility and the severe credit quality deterioration in its
loan portfolio continue to put negative pressure on the rating,
S&P said.

As reported by the Troubled Company Reporter on March 22, 2011,
Standard & Poor's said that it raised its counterparty credit
rating on iStar Financial Inc. to 'B+' from 'CCC' and removed it
from CreditWatch where it was placed with positive implications on
Feb. 23.  The outlook is stable.

"The upgrade reflects the company's closing of a $2.95 billion
senior secured credit facility, which it will use to refinance the
company's existing secured bank facilities and repay a portion of
the company's unsecured debt," said Standard & Poor's credit
analyst Jeffrey Zaun.  If S&P's analysis of the new secured
facility indicates 100% or more collateral coverage, S&P will rate
the issue 'BB-'.  If S&P's analysis of collateral indicates less
than 100% coverage, S&P will rate the issue 'B+'.


J.A.R.A., INC.: Case Summary & 2 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: J.A.R.A., Inc.
        875 Poole Avenue
        Hazlet, NJ 07730-2041

Bankruptcy Case No.: 11-33977

Chapter 11 Petition Date: August 11, 2011

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

Judge: Raymond T. Lyons, Jr.

Debtor's Counsel: Joseph Casello, Esq.
                  COLLINS, VELLA & CASELLO
                  1451 Highway 34 South, Suite 303
                  Farmingdale, NJ 07727
                  Tel: (732) 751-1766
                  Fax: (732) 751-1866
                  E-mail: jcasello@cvclaw.net

Scheduled Assets: $1,200,000

Scheduled Debts: $195,753

A list of the Company's two largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/njb11-33977.pdf

The petition was signed by Richard M. Alexander, president.


JEFFERSON, AL: Pushes Toward Deal Over $3.2-Bil. Bond Debt
----------------------------------------------------------
Samuel Howard at Bankruptcy Law360 reports that Jefferson County,
Ala., on Friday rejected a settlement with Wall Street creditors,
but set a path toward refinancing $3.2 billion in bond debt,
likely averting what would have been the largest municipal
bankruptcy on record.

According to Law360, the county commission was expected to vote on
a Chapter 9 filing, but instead prolonged negotiations with
JPMorgan Chase & Co. and other bondholders that financed an
overhaul of the county's crumbling sewer system a decade ago, a
project ultimately mired in corruption and failed derivatives
transactions.

                    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.


JOJO'S PARTNERS: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: JoJo's Partners, LLC
        2923 Chino Ave H-1
        Chino Hills, CA 91709

Bankruptcy Case No.: 11-21297

Chapter 11 Petition Date: August 11, 2011

Court: United States Bankruptcy Court
       Central District Of California (Santa Ana)

Judge: Mark S. Wallace

Debtor's Counsel: Carolyn Dillinger, Esq.
                  THE DILLINGER LAW FIRM P.C.
                  65 Enterprise
                  Aliso Viejo, CA 92656
                  Tel: (949) 830-4717
                  Fax: (949) 271-4717

Scheduled Assets: $51,440

Scheduled Debts: $1,713,806

Affiliate that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
JoJo's Pizza Kitchen Inc               11-21300   8/11/11
  Assets: $0 to $50,000
  Debts: $1,000,001 to $10,000,000


A list of JoJo's Partners' 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/cacb11-21297.pdf

A list of JoJo's Pizza's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/cacb11-21300.pdf

The petitions were signed by Joseph P. Bonafede, member.


JOSEPH GROUP: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Joseph Group, Inc.
        2923 Chino Ave H-1
        Chino Hills, CA 91709

Bankruptcy Case No.: 11-21301

Chapter 11 Petition Date: August 11, 2011

Court: United States Bankruptcy Court
       Central District Of California (Santa Ana)

Judge: Mark S. Wallace

Debtor's Counsel: Carolyn Dillinger, Esq.
                  THE DILLINGER LAW FIRM P.C.
                  65 Enterprise
                  Aliso Viejo, CA 92656
                  Tel: (949) 830-4717
                  Fax: (949) 271-4717

Scheduled Assets: $97,136

Scheduled Debts: $331,892

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/cacb11-21301.pdf

The petition was signed by Joseph P. Bonafede, president.


KENTS MUFFLER: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Kents Muffler and Brake, Inc.
        12243 South Galena Park Boulevard
        Draper, UT 84020

Bankruptcy Case No.: 11-31830

Chapter 11 Petition Date: August 12, 2011

Court: United States Bankruptcy Court
       District of Utah (Salt Lake City)

Judge: R. Kimball Mosier

Debtor's Counsel: Eric C. Singleton, Esq.
                  THE SINGLETON GROUP, PLLC
                  307 West 200 South, Suite 2002
                  Salt Lake City, UT 84101
                  Tel: (801) 214-9200
                  Fax: (801) 214-9201
                  E-mail: eric@thesingletongroup.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.

The petition was signed by Kent Winters, president.

Affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Kent's Muffler & Auto                  11-29455   06/27/11


KV PHARMACEUTICAL: Completes Sale of Divested Assets to Zydus
-------------------------------------------------------------
K-V Pharmaceutical Company announced the completion and closing of
the previously announced sale of assets of Nesher Pharmaceuticals,
Inc., the Company's wholly-owned generic subsidiary, and the
Company's generic business and assets to Zydus Pharmaceuticals
(USA), Inc and Zynesher Pharmaceuticals (USA) LLC.

The aggregate sales price for the transaction is $60 million of
which $7.5 million will be held in an escrow arrangement for post-
closing indemnification purposes.  The purchase includes the
physical assets associated with the Company's generic business,
including certain manufacturing, packaging and laboratory
facilities, certain intellectual property, existing and future
product opportunities, as well as equipment specific to the
generic business.

Separately, the Company entered into a supply agreement with Zydus
Pharmaceuticals, Inc., to provide third-party manufacturing
services for Clindesse and Gynazole-1.

Greg Divis, the Company's chief executive officer and president of
Ther-Rx Corporation, stated, "This divestiture is in-line with our
announced efforts to focus our future product roadmap in the
specialty branded pharmaceutical sector.  The net proceeds from
the transaction will strengthen our financial position and
liquidity, while exiting the generics business will immediately
reduce our quarterly cash outlays.  Moving forward, we will
continue working towards making important progress with MakenaTM,
returning our branded anti-infective products back to market and
supporting additional growth potential for EvamistTM."

                 U.S. Bank Modification Agreement

On Aug 8, 2011, MECW, LLC, a wholly-owned subsidiary of the
Company, and U.S. Bank, National Association, as Trustee for the
registered holders of J.P. Morgan Chase Commercial Mortgage
Securities Corp., Commercial Mortgage Pass-Through Certificates,
Series 2006-LDP7, entered into a Note, Deed of Trust, Leasehold
Deed of Trust, Security Agreement, Fixture Filing, and Other Loan
Documents Modification and Spreader Agreement.  Pursuant to the
Modification Agreement, MECW and the Lender agreed to modify the
Promissory Note, dated March 23, 2006, between MECW, LLC, and
LaSalle National Bank Association, the Deed of Trust, Leasehold
Deed of Trust, Security Agreement and Fixture Filing dated
March 23, 2006, by MECW, LLC, in favor of a trustee, for the
benefit of LaSalle Bank National Association, and other loan
documents associated therewith.

Under the Modification Agreement, the Lender agreed to:

   (i) waive certain financial reporting requirements under the
       Loan Documents;

  (ii) not enforce the minimum net worth requirement contained in
       the Company's guaranty of MECW's obligations under the Loan
       Documents, until the financial quarter ending March 31,
       2015, at which time the Company will be required to again
       be in compliance with the net worth requirements contained
       therein;

(iii) release Particle Dynamics, Inc., a New York corporation,
       and ETHEX Corporation, a Missouri corporation, as
       guarantors under certain of the Loan Documents;

  (iv) consent to termination of the Lease Agreement dated as of
       Dec. 1, 2005, by and between St. Louis County, Missouri and
       the Company and the related industrial revenue bonds and
       the amendment and restatement of certain subleases under
       the Chapter 100 Arrangement; and

   (v) consent to the sublease of a portion of the property
       mortgaged pursuant to the Loan Documents to Zynesher
       Pharmaceuticals (USA) LLC.

In addition, MECW and the Lender agreed to these modifications to
the Loan Documents: (i) that the requirement under the Loan
Documents for MECW to make payments to a reserve account held by
the Lender to fund capital repairs and improvements would be
reinstated and would continue until such time as the Company has a
net worth of at least $250,000,000 and no other default exists
under the Loan Documents; (ii) that the Buyer would be required to
comply, on a going forward basis, with all financial reporting
requirements under the Loan Documents; and (iii) that the Loan
Documents would be modified to reflect the termination of the
Chapter 100 Arrangement.

                 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.


LIBERTY STATE: N.J. Attorney General Wants Case Dismissed
---------------------------------------------------------
Jacqueline Palank, writing for Dow Jones' Daily Bankruptcy Review,
reports that New Jersey Attorney General Paula Dow is urging the
Bankruptcy Court to dismiss the Chapter 11 case filed by Liberty
State Financial Holdings Corp., saying it inappropriately filed
for bankruptcy protection to escape pending state litigation
accusing it of engaging in a "massive fraud."  The Attorney
General said the case should be dismissed so that the company
can't run from a lawsuit accusing its officials of violating state
securities laws by allegedly defrauding investors in the life-
insurance policies it acquired.

Dow Jones reports that Judge Kevin Gross on Thursday denied
Liberty State's request to enforce the automatic stay against the
attorney general and directed the parties to return to court on
Aug. 26, when a judge will take up the Attorney General's request
to have the case dismissed as well as any objections that come in.

Liberty State's bankruptcy attorneys weren't immediately available
for comment Friday.

Dow Jones recounts that the New Jersey Bureau of Securities in
March sued Liberty State and an affiliate in state court, accusing
them of violating state securities laws by failing to register the
securities it sold--stakes in irrevocable life insurance trusts.
Dow alleged that Liberty State officials wrongfully diverted
millions of dollars of funds from "innocent investors," many of
whom were "elderly and impaired individuals," for their personal
benefit.  As part of that action, Liberty State agreed to the
appointment of a fiscal agent to investigate its use of investor
funds as well as its financial condition.  That agent filed a
report in early July, describing securities violations, gross
mismanagement and fraudulent acts by the company's controlling
officials.  The agent also recommended expanding his role to serve
as receiver for the company and its assets.

Several weeks later, Liberty State and two affiliates filed for
Chapter 11 protection in Wilmington, Delaware.


LIQUIDMETAL TECHNOLOGIES: Posts $2.9-Mil. Income in 2nd Quarter
---------------------------------------------------------------
Liquidmetal Technologies, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q reporting a
comprehensive income of $2.93 million on $3.64 million of revenue
for the three months ended June 30, 2011, compared with a
comprehensive loss of $1.22 million on $2.20 million of revenue
for the same period a year ago.

The Company also reported a comprehensive loss of $6.21 million on
$6.50 million of revenue for the six months ended June 30, 2011,
compared with a comprehensive loss of $1.17 million on $4.90
million of revenue for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $14.17
million in total assets, $36.87 million in total liabilities and a
$22.69 million total shareholders' deficiency.

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

                        http://is.gd/W7P0VQ

                   About Liquidmetal Technologies

Based in Rancho Santa Margarita, Calif., Liquidmetal Technologies,
Inc. and its subsidiaries are in the business of developing,
manufacturing, and marketing products made from amorphous alloys.
Liquidmetal Technologies markets and sells Liquidmetal(R) alloy
industrial coatings and also manufactures, markets and sells
products and components from bulk Liquidmetal alloys that can be
incorporated into the finished goods of its customers across a
variety of industries.   The Company also partners with third-
party licensees and distributors to develop and commercialize
Liquidmetal alloy products.

The Company classifies operations into two reportable segments:
Liquidmetal alloy industrial coatings and bulk Liquidmetal alloys.

Choi, Kim & Park LLP, in Los Angeles, Calif., expressed
substantial doubt about the Company's ability to continue as a
going concern, following the 2010 financial results.  The Company
has experienced losses from continuing operations during the last
three fiscal years and has an accumulated deficit of $165,879 as
of Dec. 31, 2010.  Net cash provided by continuing operations for
the year ended Dec. 31, 2010 was $10,080.  At Dec. 31, 2010,
working capital deficit was $14,180.  As of Dec. 31, 2010, the
Company's principal source of liquidity is $5,049 of cash and
$1,731 of trade accounts receivable.

The Company's restated statement of operations reflects a net loss
of $4.69 million on $30.27 million of revenue for the year ended
Dec. 31, 2010, compared with net income of $251,000 on $16.94
million of revenue during the prior year.


LOCAL INSIGHT: Files Plan of Reorganization; Sees Q4 Exit
---------------------------------------------------------
Local Insight Media Holdings, Inc. disclosed that the company and
its subsidiaries currently acting as debtors in possession under
Chapter 11 of the United States Bankruptcy Code have filed a Joint
Plan of Reorganization (the "Plan") and Disclosure Statement with
the United States Bankruptcy Court for the District of Delaware.
With this filing, the Company expects to emerge from Chapter 11
during the fourth quarter of 2011.

Under the Plan, which is subject to the confirmation of the Court,
the company will emerge with a new credit facility and total debt
reduced by more than 90 percent.  The Company's senior secured
debt will be exchanged for equity in the reorganized company.  The
Plan has the support of the steering committee of the Company's
pre-petition senior secured lenders.

"The filing of our Plan of Reorganization and Disclosure Statement
is a vital step toward our successful emergence from Chapter 11,"
said Scott Brubaker, interim president and CEO.  "The Plan will
enable us to substantially reduce our debt and emerge with a
manageable capital structure and stronger financial foundation.
As a result, we will be better positioned to meet our advertisers'
needs for local search solutions."

As part of this process, the Company anticipates holding a hearing
on the adequacy of the Disclosure Statement in late September
2011.  After receiving approval of its Disclosure Statement, the
Company expects to solicit approval of the Plan by the necessary
classes of creditors and hold a confirmation hearing on the Plan.

The Company's legal advisor is Kirkland & Ellis LLP and its
investment banker is Lazard Freres & Co LLC. Alvarez & Marsal has
served as the Company's restructuring advisor.

                    About Local Insight Media

Local Insight Media Holdings, Inc., through its subsidiary The
Berry Company LLC, is a leading provider of local search
solutions, generating leads for its advertising clients and
enabling consumers to efficiently find the products and services
they need.  The Berry Company serves approximately 225,000
advertising clients in 41 states, publishing approximately 850
print Yellow Pages directories on behalf of approximately 115
telco and other customers.  As an authorized reseller of
YP.com(TM) in all of its markets, The Berry Company provides its
clients with online listings and video advertising through this
leading national Internet Yellow Pages site.  The Berry Company
also provides small and medium-sized businesses with website
development and search engine marketing services, and is a
Google(TM) Qualified Company.


LOS ANGELES DODGERS: Committee Taps Pinckney Harris as Counsel
--------------------------------------------------------------
The Official Committee of Unsecured Creditors of Los Angeles
Dodgers LLC and its affiliated Debtors asks the U.S. Bankruptcy
Court for the District of Delaware for permission to retain
Pinckney, Harris & Weidinger, LLC as its counsel to advise the
Committee with respect to its rights, duties and powers in the
Chapter 11 cases.

The firm's professionals and their compensation rates:

Professional              Designation      Hourly Rate
------------              -----------      -----------
Donna L. Harris, Esq.     member             $375
Joanne P. Pinckney, Esq.  member             $375
Kevin M. Capuzzi, Esq.    associate          $260
Nicole O'Brien            paralegal          $160
Caitlin Drueding          paralegal          $160

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

                   About the Los Angeles Dodgers

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

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

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

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

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

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

The LA Dodgers is the 12th 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.


LOS ANGELES DODGERS: Wants Schedules Deadline Moved to Aug. 26
--------------------------------------------------------------
Los Angeles Dodgers LLC and its debtor-affiliates ask the U.S.
Bankruptcy Court for the District of Delaware to extend the
deadline to file the schedules of assets and liabilities, and
statements of financial affairs until Aug. 26, 2011.  The Debtors'
current filing deadline has expired on July 27, 2011.

The Debtors tell the Court that they have been diligently working
to process, compile, and prepare the information necessary to
complete the schedules and statements.  The Debtors assure the
Court that the request for extension of time will not prejudice or
adversely affect the rights of the Debtors' creditors and other
parties-in-interest.

A hearing is set for Aug. 16, 2011, at 10:00 a.m., to consider the
Debtors' request for extension of time.

                   About the Los Angeles Dodgers

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

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

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

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

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

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

The LA Dodgers is the 12th 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.


MAYSVILLE, INC.: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Maysville, Inc.
        520 Brickell Key Drive, #1021
        Miami, FL 33131

Bankruptcy Case No.: 11-32532

Chapter 11 Petition Date: August 11, 2011

Court: U.S. Bankruptcy Court
       Southern District of Florida (Miami)

Judge: Laurel M. Isicoff

Debtor's Counsel: Jeffrey P. Bast, Esq.
                  BAST AMRON LLP
                  1 SE 3 Avenue, #1440
                  Miami, FL 33131
                  Tel: (305) 379-7904
                  Fax: (305) 379-7905
                  E-mail: jbast@bastamron.com

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

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

The petition was signed by Alex Redondo, president.

Debtor's List of 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
MUNB Holdings                      Deficiency          $11,936,327
1221 Brickell Avenue
Miami, FL 33131

Murai Wald, Biondo & Moreno PA     Professional Services   $22,685
1200 Ponce de Leon Boulevard
Miami, FL 33134

James Quinn                        Construction Claim      $15,000
2 S. Biscayne Bloulevard, Suite 2475
Miami, FL 33131

Susan Gonzalez                     Personal Injury         $15,000
255 Alhambra Circle, Suite 630     Claim
Miami, FL 33134

Paragon Painting & Waterproofing,  Trade Debt              $13,663
Inc.

City of Miami Finance Department   Impact Fees             $11,743

Ehrenstein, Charbonneau Calderin,  Professional Services   $11,423
PA

Tew Cardenas LLP                   Professional Services   $10,574

Greenberg Traurig                  Professional Services    $7,742

Centrelix/Otis Elevator            Trade Debt               $1,100

Home Depot/Citibank                Supplies                   $100

Aaron Wegner                       Rent Deposit            Unknown

Abe Diamond                        Rent Deposit            Unknown

Ada Bueso                          Rent Deposit            Unknown

Agung Bayu                         Rent Deposit            Unknown

Ainsley Bienvenu & Jaqueline       Rent Deposit            Unknown
Krasen

Alejandro Travesani                Rent Deposit            Unknown

Alex Fairchild                     Rent Deposit            Unknown

Alicia Garcia                      Rent Deposit            Unknown

Alvaro Garcia                      Rent Deposit            Unknown


MCCLATCHY CO: Bestinver Gestion Holds 4.90% of Class A Shares
-------------------------------------------------------------
In a Schedule 13G filing with the U.S. Securities and Exchange
Commission, Bestinver Gestion S.A., SGIIC, disclosed that it
beneficially owns 2,958,206 shares of Class A common stock of The
McClatchy Company representing 4.90% of the shares outstanding.
As of July 29, 2011, the Company had 60,402,712 shares of Class A
common stock outstanding.  A full-text copy of the regulatory
filing is available for free at http://is.gd/dilntV

                    About The McClatchy Company

Sacramento, Calif.-based The McClatchy Company  (NYSE: MNI)
-- http://www.mcclatchy.com/-- is the third largest newspaper
company in the United States, publishing 30 daily newspapers, 43
non-dailies, and direct marketing and direct mail operations.
McClatchy also operates leading local websites in each of its
markets which extend its audience reach.  The websites offer users
comprehensive news and information, advertising, e-commerce and
other services.  Together with its newspapers and direct marketing
products, these interactive operations make McClatchy the leading
local media company in each of its premium high growth markets.
McClatchy-owned newspapers include The Miami Herald, The
Sacramento Bee, the Fort Worth Star-Telegram, The Kansas City
Star, The Charlotte Observer, and The News & Observer (Raleigh).

The Company's balance sheet at June 30, 2011, showed $3.05 billion
in total assets, $2.85 billion in total liabilities, current and
non-current, and $203.47 million in total stockholders' equity.

                          *     *     *

In February 2010, Moody's Investors Service upgraded The McClatchy
Company's Corporate Family Rating to Caa1 from Caa2, Probability
of Default Rating to Caa1 from Caa2, and senior unsecured and
unguaranteed note ratings to Caa2 from Caa3, concluding the review
for upgrade initiated on January 27, 2010.  The upgrades reflect
McClatchy's improved liquidity position and reduced near-term
default risk following completion of the company's refinancing,
and its ability to stabilize EBITDA performance through
significant cost reductions.  The rating outlook is stable.

In the May 12, 2011, edition of the TCR, Standard & Poor's Ratings
Services lowered its corporate credit rating on Sacramento,
Calif.-based The McClatchy Co. to 'B-' from 'B'.  "The downgrade
reflects our expectation that continued declines in advertising
revenues will outweigh the company's cost reduction measures,
resulting in steadily rising debt leverage over the intermediate
term despite some modest debt reduction that will likely occur
over the near term," said Standard & Poor's credit analyst Harold
Diamond.  The 'B-' corporate credit rating on Sacramento, Calif.-
based McClatchy reflects Standard & Poor's expectation that
advertising revenues will decline at a high-single-digit% rate in
2011, and EBITDA will fall at a mid-double-digit pace.

As reported by the Troubled Company Reporter on Feb. 8, 2011,
Fitch Ratings has upgraded the Issuer Default Rating of the
McClatchy Company to 'B-'.  The Rating Outlook is Stable.  The
revenue declines endured by McClatchy in 2010 were materially
lower than Fitch's expectation.  Fitch had modeled declines in the
mid-teens versus actual declines in the mid-single digits.  While
Fitch expected the company to focus on cost containment, the
company's success exceeded Fitch expectations.  Fitch had expected
EBITDA to decline more than 10% versus actual EBITDA growth in the
mid-single digits.  As a result absolute debt and leverage were
better than Fitch expectations.  Fitch estimates 2010 year end
gross unadjusted leverage of approximately 4.7 times.  Fitch
expects the company will be able to meet its pension funding
obligations and satisfy all of its maturities up to and including
its senior unsecured notes due in 2014 ($169 million balance as of
Sept. 30, 2010).  Also, Fitch does not expect McClatchy will have
any issues meeting its credit agreement financial covenants (under
both Fitch's base and stress cases).


MERCANTILE BANCORP: Lee Keith Appointed Interim President and CEO
-----------------------------------------------------------------
Mercantile Bancorp, Inc., announced that Lee R. Keith has been
appointed, effective Aug. 8, 2011, as the acting and interim
President and CEO of the Company and Chairman of Mercantile Bank.
The appointment is contingent on the approval of the Federal
Deposit Insurance Corporation and Federal Reserve Bank.

Keith replaces Ted T. Awerkamp, who has served as President and
CEO of the Company and as Chairman of Mercantile Bank since 2007.
Keith has been a director of the Company and Mercantile Bank since
2009 and will continue in that role.

"We are pleased to have someone of Lee Keith's experience join our
management team," said Michael J. Foster, Chairman of the Company.
"Lee's over 33 years in the banking industry and, in particular,
his leadership in restoring six problem banks to a financially
sound position make him an excellent leader to move Mercantile
forward in these difficult times."

Foster thanked Awerkamp for his service. "Ted has served our
company faithfully since 1984 in a variety of operational and
management roles," said Foster.  "We are grateful for his tireless
and loyal service, especially during the recent years of turmoil
in the banking industry and overall economy."

As compensation for Mr. Keith's executive employment, the Company
has agreed to pay him an annual salary of $300,000 and to provide
him with temporary housing for six months and an automobile.
There is no written employment agreement with Mr. Keith.

On Aug. 10, 2011, the Illinois Division of Banking released a
Consent Order that Mercantile Bank, the Federal Deposit Insurance
Corporation, and the Division entered into as of July 28, 2011.
Under the Order, Mercantile Bank will cease operating with all
money transmitters and currency businesses providing brokerage,
sale or exchange of non-United States currency for deposit
customers.  Furthermore, Mercantile Bank may not enter into a new
line of business without the prior written consent of the FDIC and
the Division.

                      About Mercantile Bancorp

-- http://www.mercbanx.com/-- is a Quincy, Illinois-based bank
holding company with wholly owned subsidiaries consisting of one
bank in Illinois and one each in Kansas and Florida, where the
Company conducts full-service commercial and consumer banking
business, engages in mortgage banking, trust services and asset
management, and provides other financial services and products.
The Company also operates Mercantile Bank branch offices in
Missouri and Indiana.

The Company's balance sheet as of March 31, 2011, showed
$904.0 million in total assets, $909.3 million in total
liabilities, and a stockholders' deficit of $5.3 million.

As reported in the TCR on April 26, 2011, BKD, LLP, in Decatur,
Illinois, expressed substantial doubt about Mercantile Bancorp's
ability to continue as a going concern, following the Company's
2010 results.  The independent auditors noted that the Company has
suffered recurring losses resulting from the effects of the
economic downturn causing its subsidiary banks to be
undercapitalized and resulting in consent orders to be issued by
their primary regulators.


MERRITT AND WALDING: Files List of 18 Largest Unsecured Creditors
-----------------------------------------------------------------
Merritt and Walding Properties, LLP, has filed with the U.S.
Bankruptcy Court for the Southern District of Alabama a list of
its 18 largest unsecured creditors:

  Entity                                          Claim Amount
  ------                                          ------------
Regions Bank                                      $508,063.47
106 St. Francis Street                            Secured Value:
Mobile, AL 36602                                  $852,582.00

Regions Bank                                      $350,000.00
106 St. Francis Street                            Secured Value:
Mobile, AL 36602                                  $150,000.00


Regions Bank                                      $222,943.42
106 St. Francis Street                            Secured Value:
Mobile, AL 36602                                  $100,000.00

Regions Bank                                      $5,057.95
                                                  Secured Value:
                                                  $350,000.00

Surety Land Title                                 $75,000.00

Southpoint Bank                                   $15,000.00

Bank Trust                                        $3,27_.96
                                                  Secured Value:
                                                  $8,500.00

Alabama Department of Revenue                     $1.00

Bank Trust                                        $1.00

BMW                                               $1.00

Jennifer M. Merritt                               $1.00

Marsha A. Walding                                 $1.00

Martha W. Blow                                    $1.00

Merritt Oil Company, Inc.                         $1.00

R. Fred Walding                                   $1.00

Richard E. Blow                                   $_.00

Richard T. Merritt                                $1.00

The McPherson Companies                           $1.00

               About Merritt and Walding Properties

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

In its schedules, the Debtor disclosed $6,166,757 in total assets
and $7,685,591 in total debts.

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

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


MGI, LLC: Voluntary Chapter 11 Case Summary
-------------------------------------------
Debtor: MGI, LLC
        P.O. Box 1366
        Columbia, MO 65205

Bankruptcy Case No.: 11-21410

Chapter 11 Petition Date: August 11, 2011

Court: U.S. Bankruptcy Court
       Western District of Missouri (Jefferson City)

Judge: Dennis R. Dow

Debtor's Counsel: John C. Reed, Esq.
                  PLETZ & REED
                  P.O. Box 1048
                  Jefferson City, MO 65102
                  Tel: (573) 635-8500
                  Fax: (573) 634-3079
                  E-mail: jreedlaw@aol.com

Scheduled Assets: $580,000

Scheduled Debts: $1,245,522

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

The petition was signed by George Dodge, member.


MIAMI-DADE COUNTY: Moody's Reviews B3 Rtng for Possible Upgrade
---------------------------------------------------------------
Moody's Investors Service has placed the B3 rating of Housing
Finance Authority Miami-Dade County, FL, Home Ownership Mortgage
Revenue Bonds Series 2006B-2 under review for possible upgrade,
affecting $825,000 of outstanding debt. Moody's has reviewed
updated cash flows on the consolidated bond program which indicate
that the 2006B-2 bonds may benefit from excess revenue from the
program thereby reducing their reliance on second loan payments.
As part of Moody's review Moody's will analyze additional cash
flow scenarios on the program.

The principal methodology used in this rating was Strength in
Structure: Moody's Approach to Rating Single Family Housing Bonds
Secured by Mortgage-Backed Securities published in October 1998.


MICHAELS STORES: Bank Debt Trades at 7% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Michaels Stores,
Inc., is a borrower traded in the secondary market at 93.16 cents-
on-the-dollar during the week ended Friday, Aug. 12, 2011, a drop
of 4.94 percentage points from the previous week according to data
compiled by Loan Pricing Corp. and reported in The Wall Street
Journal.  The Company pays 225 basis points above LIBOR to borrow
under the facility.  The bank loan matures on Oct. 31, 2013, and
carries Moody's B2 rating and Standard & Poor's B+ rating.  The
loan is one of the biggest gainers and losers among 72 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

Michaels Stores, Inc., is a specialty retailer in North America
providing materials, project ideas, and education for creative
activities in arts and crafts, home, and scrapbooking.  The
Company also offers project sheets on its Internet site,
www.michaels.com, and Webisodes demonstrating techniques to make
seasonal crafts, gifts, and more at
www.WhereCreativityHappens.com.  In addition, it offers a variety
of classes, demonstrations, and family-focused make-it and take-it
events.  As of March 27, 2010, it operated 1,028 Michaels retail
stores in 49 states, as well as in Canada, averaging 18,300 square
feet of selling space per store.  Its stores offer arts and crafts
supplies and products for the crafter and do-it-yourself home
decorator.  It also operated 148 Aaron Brothers stores, as of
March 27, 2010, in nine states, averaging 5,600 square feet of
selling space per store, offering photo frames, a line of ready-
made frames, custom framing services, and a selection of art
supplies.

Michaels Stores reported net income of $37.0 million on net sales
of $953.0 million for the quarter ended April 30, 2011, as
compared with net income of $13.0 million on net sales of $901.0
million for the comparable prior year period.

As of April 30, 2011, the Company's balance sheet showed $1.63
billion in total assets and $4.26 billion in total liabilities,
resulting in $2.62 billion total stockholders' deficit.


MIN PARK: Voluntary Chapter 11 Case Summary
-------------------------------------------
Debtor: Min Sung Park
          dba Central Avenue Grill
              Osaka Grill
              Osaka Grill & Seafood
        116 San Juan Street
        Los Alamos, NM 87544

Bankruptcy Case No.: 11-13661

Chapter 11 Petition Date: August 12, 2011

Court: U.S. Bankruptcy Court
       District of New Mexico (Albuquerque)

Judge: Robert H. Jacobvitz

Debtor's Counsel: Koo Im Sakayo Tong, Esq.
                  MOORE, BERKSON, & GANDARILLA, P.C.
                  P.O. Box 7459
                  Albuquerque, NM 87194
                  Tel: (505) 242-1218
                  Fax: (505) 242-2836
                  E-mail: kooimt@swcp.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 creditors together with its
petition.


MT. ZION: PNC Bank Objects to Second Amended Plan
-------------------------------------------------
PNC Bank, National Association objects to the Second Amended Plan
of Reorganization, dated March 29, 2011, of Mt. Zion Limited
Partnership on the grounds set forth in its objection to the
Debtors' First Amended Plan, dated Aug. 3, 2010.  PNC Bank asserts
that the Second Amended Plan fails to satisfy Section 1129(a)(1)
of the Bankruptcy Code and cannot be confirmed.

PNC Bank holds a claim against the Debtor under certain notes and
loan documents in the aggregate amount of $29,825,110, secured by,
inter alia, mortgage liens on the Debtor's real property
consisting of an apartment complex located at 550 Mt. Zion Drive,
in Florence, Boone County, Kentucky.  On May 4, 2011, the Court
determined the value of the Property to be $28,100,000.

PNC Bank has a secured claim of $28,100,000 and an unsecured
deficiency claim of $1,725,110.

According to Ronald Barliant, Esq., at Goldberg Kohn Ltd., in
Chicago, Illinois, the Debtor improperly classifies PNC Bank's
Deficiency Claim in a class -- Class 1A -- separate from the class
of claims of the Debtor's other general unsecured creditors --
Class 5.  The Second Amended Plan also fails to remedy the defects
of the Plan to which PNC Bank objected in its First Objection,
which objections were granted, in part, pursuant to the Court's
October 25, 2010 order.

If the Deficiency Claim is properly classified in Class 5, PNC
Bank's rejection of the Second Amended Plan means that neither
impaired class accepts it and, consequently, the Second Amended
Plan cannot be confirmed, Mr. Barliant points out.

The Debtor's "obvious objective is to classify the Deficiency
Claim on the basis of how [PNC Bank] intends to vote" its claim,
Mr. Barliant contends.  He argues that this is illegitimate under
Section 1122(a) of the Bankruptcy Code.

                 About Mt. Zion Limited Partnership

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


MWM CARVER: Can Use Fannie Mae Cash Collateral Until Aug. 31
------------------------------------------------------------
MWM Carver Terrace, LLC, and the Federal National Mortgage
Association entered into a stipulation and consent order, which
extended the termination deadline for the use of cash collateral
through and including Aug. 31, 2011.

As reported in the Troubled Company Reporter, a loan for the
purchase of the Debtor's residential apartment building was
provided by Citibank pursuant to a certain a fixed rate promissory
note, in the original principal amount of $9.60 million, which is
secured by a first position lien and security interest in the
Property pursuant to a Deed of Trust, Assignment of Rents,
Security Agreement and Fixture Filing dated Aug. 31, 2007, and
duly recorded among the land records of the District of Columbia.
On Dec. 18, 2007, Citibank assigned all of its right, title and
interest in and to the Note, the security instrument and the
assignment of rents to Fannie Mae.  As of Nov. 30, 2010, after
Fannie Mae accelerated the Loan, it asserted that in excess of
$8.3 million was owed by the Debtor.

Brent C. Strickland, Esq., at Whiteford, Taylor & Preston L.L.P.,
explains that the Debtor needs the money to fund its Chapter 11
case, pay suppliers and other parties.  The Debtor will use the
collateral pursuant to a budget, a copy of which is available for
free at http://bankrupt.com/misc/MWM_budget.pdf

In exchange for using the cash collateral, the Debtor will grant
Fannie Mae: (i) a replacement lien on all the postpetition assets
of the Debtor to the extent of diminution in the value of Fannie
Mae's interest in cash collateral; and (ii) an administrative
priority expense claim to the extent there is a diminution in the
value of Fannie Mae's interest in cash collateral.

Fannie Mae is represented by:

     J. David Folds, Esq.
     McKenna Long & Aldridge LLP
     1900 K STREET NW
     Washington, D.C. 20006
     Phone: (202) 496-7521
     Fax: (202) 496-7095

                     About MWM Carver Terrace

Washington, DC-based MWM Carver Terrace, LLC, owns a 407-unit
residential apartment building located at 901 21st Street NE, in ,
Washington D.C.  The Property occupies 5.78 acres of land and has
approximately 252,000 square feet of enclosed improvements.  It
filed for Chapter 11 bankruptcy protection (Bankr. D.C. Case No.
11-00168) on March 3, 2011.  Brent C. Strickland, Esq., at
Whiteford, Taylor, & Preston L.L.P., serves as the Debtor's
bankruptcy counsel.  The Debtor estimated its assets at
$10 million to $50 million and debts at $1 million to $10 million.


NANCE PROPERTIES: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Nance Properties, Inc.
        P.O. Box 1625
        Swansboro, NC 28584

Bankruptcy Case No.: 11-06197

Chapter 11 Petition Date: August 12, 2011

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

Judge: J. Rich Leonard

Debtor's Counsel: Trawick H. Stubbs, Jr., Esq.
                  STUBBS & PERDUE, P.A.
                  P.O. Drawer 1654
                  New Bern, NC 28563
                  Tel: (252) 633-2700
                  Fax: (252) 633-9600
                  E-mail: efile@stubbsperdue.com

Scheduled Assets: $1,253,102

Scheduled Debts: $2,880,122

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/nceb11-06197.pdf

The petition was signed by Joseph R. Nance, president.


NCO GROUP: S. Leckerman to Quit; J. Jones Assumes EVP & COO Roles
-----------------------------------------------------------------
NCO Group, Inc., announced that Steven Leckerman, executive vice
president and chief operating officer, will be leaving the Company
by Oct. 31, 2011, to pursue other opportunities.

Effective immediately, Jack Jones will assume the role of
Executive Vice President and COO.  Mr. Jones, 56, spent over 25
years with JPMorgan Chase where he was most recently Senior Vice
President and Managing Director of Global Solutions responsible
for the enterprise wide globalization strategy which included
operations involving over 35,000 employees delivering services to
all lines of business.  He was actively involved in trade
associations and business groups in India and the Philippines most
notably the Business Processing Association of the Philippines and
Nasscom, India's leading BPO and Technology Association.
Mr. Jones also spent several years leading credit services for
card operations as well as other key roles within the banking
systems of JPMorgan Chase and Wachovia.  JPMorgan Chase is an
affiliate of the Company.

Mr. Jones will receive an annual base salary of $500,000 per
annum.  Mr. Jones will also be eligible to receive an annual bonus
(with a target bonus of 100% of base salary) based upon
achievement of performance objectives, as mutually agreed to by
Mr. Jones and the Compensation Committee of the Board of Directors
of the Company.  Mr. Jones will be eligible to receive equity,
stock options, or other equity-based awards, as determined in the
sole discretion of the Compensation Committee.  Mr. Jones will
also be eligible to receive other perquisites and benefits, as
determined in the sole discretion of the Compensation Committee.

                       About NCO Group Inc.

Based in Horsham, Pennsylvania, NCO is a global provider of
business process outsourcing services, primarily focused on
accounts receivable management and customer relationship
management.  NCO has over 25,000 full and part-time employees who
provide services through a global network of over 100 offices.
The company is a portfolio company of One Equity Partners and
reported revenues of about $1.2 billion for the twelve month
period ended Sept. 30, 2007.

The Company reported a net loss of $155.71 million on
$1.60 billion of revenue for the year ended Dec. 31, 2010,
compared with a net loss of $88.14 million on $1.58 billion of
revenue during the prior year.

The Company's balance sheet at March 31, 2011, showed
$1.19 billion in total assets, $1.15 billion in total liabilities,
and a $44.80 million in total stockholders' equity.

                           *     *     *

As reported by the Troubled Company Reporter on Feb. 2, 2011,
Moody's Investors Service downgraded NCO Group, Inc.'s CFR to Caa1
from B3 and changed the outlook to negative.  Simultaneously,
Moody's has also downgraded each of NCO's debt instrument ratings
by one notch and lower the Speculative Grade Liquidity rating to
SGL-4 from SGL3.  The downgrade reflects Moody's concern that
greater than expected revenue declines and continued earnings
pressure will extend beyond current levels due to deteriorating
consumer payment patterns and weaker volumes.  In addition,
Moody's expects financial flexibility will be further aggravated
by tightening headroom under its financial covenants and a
potential breach of covenants which will limit the company's
ability to draw upon its revolver.  Also, the company faces an
impending maturity on its $100 million senior secured revolving
credit facility due November of 2011.


NEBRASKA BOOK: Alan G. Siemek Resigns as CFO of NBC's Subsidiaries
------------------------------------------------------------------
NBC Acquisition Corp. discloses that Alan G. Siemek, Vice
President, Treasurer and a named executive officer of NBC
Acquisition Corp. has elected to resign as Chief Financial Officer
of the Company's direct and indirect subsidiaries, including
Nebraska Book Company, Inc., effective as of Aug. 31, 2011.  Mr.
Siemek will continue to serve as Vice President and Treasurer of
both the Company and Nebraska Book Company to, among other duties,
assist in the transition of the Chief Financial Officer duties and
help with the Company's current reorganization efforts under
Chapter 11 of the United States Bankruptcy Code.

The Company in the interim has named Barry S. Major as Chief
Financial Officer.  Mr. Major currently holds the position of
President and Chief Operating Officer and also sits on the
Company's Board of Directors.

                   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.


NEBRASKA BOOK: Committee Taps Steven & Lee as Co-Counsel
--------------------------------------------------------
The Official Committee of Unsecured Creditors of Nebraska Book
Company Inc. and its debtor-affiliates ask the U.S. Bankruptcy
Court for the District of Delaware for permission to retain Steven
& Lee PC as its co-counsel to advise the Committee and represent
it with respect to proposals and pleadings submitted by the
Debtors or others to the Court.

The firm's professionals and their compensation rates:

   Joseph H. Huston, Jr.         Shareholder     $610
   Maria Aprile Sawczuk          Of Counsel      $425
   Paralegal & legal Assistants                  $110-$200

The Committee Assures the Court that the firm is a "disinterested
person" within the meaning of section 101(14) of the Bankruptcy
Code.

                    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.


NET TALK.COM: Buys $2.7MM Office Building from Core Development
---------------------------------------------------------------
Net Talk.com, Inc., purchased an existing building located in
Miami, Florida, to be used as the Company's corporate offices and
operational center.  The building, a 21,675 square foot free
standing structure, was purchased for $2,700,000 from Core
Development Holdings Corporation, which entity has no relationship
to the Company.  Acquisition was funded internally.

On Aug. 8, 2011, the Company entered into First Amendment to
Security Purchase Agreement with an accredited institutional
investor.  Pursuant to the agreement, the Company executed a
$2,000,000 Senior Debenture, a full-text copy of which is
available for free at http://is.gd/LM3bLH

Vicis Capital Master Fund, is entitled to subscribe for and
purchase from NetTalk.com, Inc., up to 8,000,000 shares of common
stock, par value $.001 per share, of the Company common stock.  A
full-text copy of the Series E Common Stock Purchase Warrant is
available for free at http://is.gd/S8TtaM

                        About Net Talk.com

Based in Miami, Fla., Net Talk.com, Inc., is a telephone company,
who provides, sells and supplies commercial and residential
telecommunication services, including services utilizing voice
over internet protocol ("VoIP") technology, session initiation
protocol ("SIP") technology, wireless fidelity technology,
wireless maximum technology, marine satellite services technology
and other similar type technologies.

The Company's balance sheet at March 31, 2011, showed
$4.74 million in total assets, $38.27 million in total
liabilities, all current, $2.55 million in redeemable preferred
stock $0.001 par value, and a $36.09 million total stockholders'
deficit.

Net Talk.com reported a net loss of $6.31 million on $737,498 of
revenues for the fiscal year ended Sept. 30, 2010, compared with a
net loss of $2.74 million on $115,571 of revenues in fiscal 2009.


NEUROLOGIX INC: Incurs Roughly $3-Mil. Net Loss in Second Quarter
-----------------------------------------------------------------
Neurologix, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q reporting a net loss
of $2.95 million on $0 of revenue for the three months ended
June 30, 2011, compared with a net loss of $4.47 million on $0 of
revenue for the same period during the prior year.

The Company also reported a net loss of $5.03 million on $0 of
revenue for the six months ended June 30, 2011, compared with a
net loss of $7.97 million on $0 of revenue for the same period a
year ago.

The Company's balance sheet at June 30, 2011, showed $4.96 million
in total assets, $13.62 million in total liabilities, and a
$8.66 million total stockholders' deficit.

The Company had cash and cash equivalents of approximately $3.5
million as of June 30, 2011.

Clark A. Johnson, president and chief executive officer of
Neurologix, noted that the second quarter financial results were
consistent with the Company's expectations.  "Neurologix continues
to advance the clinical development of NLX-P101, the Company's
novel, investigational gene therapy agent for the treatment of
Parkinson's disease, and is on track to submit a Phase 3 protocol
to the U.S. Food and Drug Administration under a Special Protocol
Assessment later in 2011.  In the second quarter of this year the
Company also initiated the open-label arm of the Company's
successful Phase 2 trial of NLX-P101.  To date, several patients
who participated in our Phase 2 trial for NLX-P101 and received
sham surgery have been treated with NLX-P101 in the open-label arm
of the Phase 2 trial.  The Phase 2 open-label arm was initiated
based on the strong efficacy results demonstrated in the
randomized Phase 2 trial of NLX-P101, which included one-year
follow-up data demonstrating that NLX-P101 provided treated
patients with sustained long-term clinical benefits."

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

                        http://is.gd/BBWcim

                       About Neurologix, Inc.

Fort Lee, N.J.-based Neurologix, Inc. (OTC Bulletin Board: NRGX)
-- http://www.neurologix.net/-- is a clinical-stage biotechnology
company dedicated to the discovery, development, and
commercialization of gene transfer therapies for serious disorders
of the brain and the central nervous system.  The Company's
current programs address such conditions as Parkinson's disease,
epilepsy, depression and Huntington's disease, all of which are
large markets not adequately served by current therapeutic
options.

The Company reported a net loss of $10.16 million on $0 of revenue
for the year ended Dec. 31, 2010, compared with a net loss of
$13.46 million on $0 of revenue during the prior year.

BDO USA, LLP, in New York, raised substantial doubt about the
Company's ability to continue as a going concern.  BDO noted that
the Company has suffered recurring losses from operations, expects
to incur future losses for the foreseeable future and has
deficiencies in working capital and capital.


NEW BERN RIVERFRONT: 3rd Party Suit v. McKim Survives Dismiss Bid
-----------------------------------------------------------------
Bankruptcy Judge J. Rich Leonard declined the request of third-
party defendant McKim & Creed, P.A. to dismiss the third-party
complaint asserted against it by JDavis Architects, PLLC, saying
JDavis properly asserted claims of negligence, contribution and
indemnity.

The third-party complaint relates to the primary litigation
initiated by New Bern Riverfront Development, LLC, against various
defendants including JDavis and Weaver Cooke Construction, LLC.
NBRD owned real property in Craven County, North Carolina, and
developed it into the SkySail Luxury Condominiums, which is the
subject of the adversary proceeding.  Weaver Cooke, the general
contractor for the project, filed a crossclaim against JDavis.
NBRD and Weaver Cooke's claims against JDavis prompted JDavis to
file the third-party complaint against McKim.

NBRD contracted directly with JDavis to serve as the licensed
architect on the project.  JDavis was charged with designing most
of the project's structural elements except for the post-
tensioning concrete system.  The general contractor, Weaver Cooke,
was responsible for hiring a subcontractor to design and construct
the PT system, which is a series of cables embedded in concrete
structures integrated into the project to provide support.  JDavis
was responsible for overseeing and designing the manner in which
the PT system connected with other structural elements of the
project such as the vertical walls adjoining the PT system.
JDavis hired McKim to provide professional surveying and civil
engineering services for the project overall.

After completion of the design and construction of the PT system,
the system failed in three separate sections.  The failure caused
the surrounding concrete to fracture and the reinforcing steel
cables to be displaced.  NBRD's lawsuit is based, among other
things, on the damage done by the failure of the PT system.  NBRD
asserted claims for breach of contract against Weaver Cooke and
JDavis.  In response, Weaver Cooke asserted crossclaims for
negligence and negligent misrepresentation against JDavis.  The
claims prompted JDavis to file a third-party complaint against
McKim for negligence, implied-in-law indemnity, and contribution.
To the extent that JDavis is found liable for any damages suffered
by NBRD and/or Weaver Cooke, JDavis asserts such damages were
caused by McKim's deviations from its duties of care.  JDavis
moved to amend its original third-party complaint to add claims of
breach of contract and express contractual indemnity. On April 29,
2011, the court granted JDavis' motion, specifying that the
allowed amendment did not prohibit McKim from subsequently moving
to dismiss the original and added claims.

The case is NEW BERN RIVERFRONT DEVELOPMENT, LLC, Plaintiff,
v. WEAVER COOKE CONSTRUCTION, LLC; TRAVELERS CASUALTY AND SURETY
COMPANY OF AMERICA; JDAVIS ARCHITECTS, PLLC; FLUHRER REED, PA; and
NATIONAL ERECTORS REBAR, INC. f/k/a NATIONAL REINFORCING SYSTEMS
INC., Defendants, and WEAVER COOKE CONSTRUCTION, LLC and TRAVELERS
CASUALTY AND SURETY COMPANY OF AMERICA, Defendants,
Counterclaimants and Crossclaimants,
v. JDAVIS ARCHITECTS, PLLC; FLUHRER REED PA; SKYSAIL OWNERS
ASSOCIATION, INC.; WACHOVIA BANK, NATIONAL ASSOCIATION and WELLS
FARGO & COMPANY f/d/b/a WACHOVIA CORPORATION, Crossclaim
Defendants. And NATIONAL ERECTORS REBAR, INC., Defendant,
Counterclaimant, Crossclaimant, and Third-Party Plaintiff,
v. ROBERT ARMSTRONG, JR., ROBERT P. ARMSTRONG, JR., INC., SUMMIT
DESIGN GROUP, INC., JMW CONCRETE CONTRACTORS, and JOHNSON'S MODERN
ELECTRIC COMPANY, INC., Third-Party Defendants. and JDAVIS
ARCHITECTS, PLLC, Third-Party Plaintiff, v. McKIM & CREED, P.A.,
Third-Party Defendant, Adv. Proc. No. 10-00023 (Bankr. E.D.N.C.).

A copy of Judge Leonard's Aug. 11, 2011 Order is available at
http://is.gd/VnYlaefrom Leagle.com.

                     About New Bern Riverfront

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

The Bankruptcy Court will convene a hearing on Sept. 19, 2011, at
3:00 p.m., to consider the confirmation of New Bern Riverfront's
Amended Plan of Reorganization dated June 30.  Objections to the
Plan and ballots accepting or rejecting the Plan are due Aug. 30.

The Amended Plan represents a consensual plan of reorganization
negotiated with the Debtor's secured creditor, Wells Fargo Bank,
N.A.  The Debtor contemplates selling properties.


NEXSTAR BROADCASTING: Incurs $2.6-Mil. Net Loss in 2nd Quarter
--------------------------------------------------------------
Nexstar Broadcasting Group, Inc., filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q
reporting a net loss of $2.58 million on $75.50 million of net
revenue for the three months ended June 30, 2011, compared with a
net loss of $9.42 million on $74.54 million of net revenue for the
same period during the prior year.
The Company also reported a net loss of $8.89 million on $145.45
million of net revenue for the six months ended June 30, 2011,
compared with a net loss of $13.09 million on $143.16 million of
net revenue for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed
$557.98 million in total assets, $741.41 million in total
liabilities, and a $183.42 million total stockholders' deficit.

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

                       http://is.gd/LEzkGz

                 About Nexstar Broadcasting Group

Irving, Texas-based Nexstar Broadcasting Group Inc. currently
owns, operates, programs or provides sales and other services to
62 television stations in 34 markets in the states of Illinois,
Indiana, Maryland, Missouri, Montana, Texas, Pennsylvania,
Louisiana, Arkansas, Alabama, New York, Rhode Island, Utah and
Florida.  Nexstar's television station group includes affiliates
of NBC, CBS, ABC, FOX, MyNetworkTV and The CW and reaches
approximately 13 million viewers or approximately 11.5% of all
U.S. television households.

The Company reported a net loss of $1.81 million on $313.35
million of net revenue for the year ended Dec. 31, 2010, compared
with a net loss of $12.61 million on $251.97 million of net
revenue during the prior year.

                          *     *     *

As reported by the Troubled Company Reporter on Aug. 30, 2010,
Standard & Poor's Ratings Services raised its corporate credit
rating on Nexstar Broadcasting Group to 'B' from 'B-'.  The rating
outlook is stable.

"The 'B' corporate credit rating reflects S&P's expectation that
Nexstar's core ad revenue will continue growing modestly in 2010
and 2011," said Standard & Poor's credit analyst Deborah Kinzer.
The EBITDA growth resulting from the rebound in core advertising,
combined with political ad revenue from the 2010 midterm
elections, should, in S&P's view, enable Nexstar to reduce its
leverage significantly by the end of the year.


O&G LEASING: First Security to Present Plan Disclosures Sept. 20
----------------------------------------------------------------
First Security Bank, as indenture trustee for the bonds used to
fund the acquisition and construction of the rigs for debtors O&G
Leasing, LLC, and Performance Drilling Company, LLC, has submitted
a Disclosure Statement for solicitation of votes on its Plan of
Reorganization for the Debtors.

The Indenture Trustee's Plan represents the culmination of the
Trustee's increasing frustration with the persistent attempts
by the Debtors, through their Insiders, to leverage the Chapter 11
bankruptcy process, for their own benefit instead of for the
benefit of Creditors.

The lynchpin of the Trustee's Plan is the proposed 363 Sale of the
Debtors' assets and business through an Auction to the highest and
best Qualified Bidder.  The Indenture Trustee has entered into an
Asset Purchase Agreement with wholly-owned subsidiaries of
SolstenXP, Inc., to provide the stalking horse bid for the
purchase of substantially all the Debtors' assets, subject to
higher and better offers from qualified bidders.

The Asset Purchase Agreement calls for Solsten Drilling, LLC, to
purchase substantially all the assets of the Debtors, pay
$190,156 quarterly over 7 years to Washington State Bank on
account of its Class 2C Claim in the principal amount of
$4,504,177, and pay $818,292 quarterly over 10 years for the
benefit of other Creditors according to their priorities.  The
Asset Purchase Agreement also provides that, regardless of the
outcome of the Lien Adversary, Solsten Drilling will issue 3%
Preferred Interests in Solsten Drilling on the Effective Date to
Holders of Series 2009B Debentures in the amount of one 3%
Preferred Interest for each $1 of principal amount of Allowed
Class 2B Claim.  The Asset Purchase Agreement is expressly subject
to higher and better offers by Qualified Bidders.  If Solsten
Drilling is outbid, or if the Debtors' Plan is confirmed, then,
under the proposed Sales Procedures that are subject to approval
by the Bankruptcy Court, its $250,000 earnest money deposit will
be returned and it will receive a $500,000 break-up fee.

First Security notes that the Debtors' Plan that provides no
capital infusion into the Debtors in exchange for the issuance of
all membership interests in the Reorganized Debtors to an insider,
Octane Funding.  On the other hand, the Asset Purchase Agreement
calls for the parties to the Asset Purchase Agreement to be
capitalized with $4.5 million, $3 million of which will be
advanced in the form of a capital contribution from SolstenXP to
Solsten Funding.  Solsten Funding will then itself contribute $1
million to its wholly-owned subsidiary, Solsten Drilling, the
operating entity that is buying the Debtors' assets in the Asset
Purchase Agreement.  The remaining $1.5 million in capitalization
to support operations of Solsten Drilling will come from SolstenXP
through a working capital credit facility.

The distributions to Holders of Allowed Claims and Equity
Interests under the Trustee Plan are:

     A. Unclassified claims (Admin. Claims, Prof. Fees and Cure
        Costs) will paid in full from operating accounts balances
        and the arbitration receivable.

     B. Class 1 (Priority Unsecured Non-Tax Claims) will be paid
        on the Effective Date.

     C. Class 2A (Senior Series 2009A Debentures) will paid an
        amount equal to $25,955,000 (plus accrued interest at 5%
        per annum) over 10 Years in quarterly installments of
        $818,292.

     D. Class 2B (Series 2009B Debentures Secured Claims) will be
        issued a one 3% preferred interest for each $1 of
        principal amount of Allowed Class 2B Claims.

     E. Class 2C (Washington State Bank Secured Claims) will be
        paid an amount equal to $4,504,177 (plus accrued interest
        at 5% per annum) over 7 years in quarterly installments of
        $190,156.

     F. Class 2D (Octane Funding Claims) will receive their pro
        rata share of the distributions provided in the plan to
        holders of allowed Class 3 claims or no distributions as
        provided in the plan to holders of allowed class 5
        subordinated claims.

    G. Class 2E (Other secured claims) will receive on the
       Effective Date either the return of its Collateral in full
       satisfaction of its claim or such other treatment as may
       be agreed to in writing by such Holder and the Purchaser.

     H. Class 3 (General Unsecured Claims) will receive pro rata
        in all cash and other assets held by the Liquidating
        Trustee that represent Cash Collateral as of the Effective
        Date.

     I. Class 4 (Intercompany Unsecured Claims) will not receive
        any distribution under the Plan.

     J. Class 5 (Subordinated Claims) will not receive any
        distribution under the Plan.

     K. Class 6 (Equity Interests) will not receive any
        distribution under the Plan.

A copy of the Disclosure Statement is available at:
http://bankrupt.com/misc/OGLEASING_disclosurestatement.pdf

The preliminary hearing on the Trustee's disclosure statement and
reorganization plan is scheduled on Sept. 20, 2011, at 1:30 p.m.

The Indenture Trustee is represent by:

     Paul H. Stephen, III, Esq.
     Jim F. Spencer, Jr., Esq.
     Watkins & Eager PLLC
     The Emporium Building, 400 East Capitol Street
     Jackson, Mississippi 39201
     Phone: (601) 965-1900
     Fax: (601) 965-1901
     E-mail: pstephenson@watkinseager.com
             jspencer@watkinseager.com

     Stephen W. Rosenblatt, Esq.
     Christopher R. Maddux, Esq.
     Butler Snow O'Mara Stevens & Cannada PLLC
     1020 Highland Colony Parkway
     Ridgeland, Mississippi 39157
     Phone: (601) 985-4502
     Fax: (601) 985-4500
     E-mail: steve.rosenblatt@butlersnow.com
             chris.maddux@butlersnow.com

     Steve Jakubowski, Esq.
     The Coleman Law Firm
     77 West Wacker Drive, Suite 4800
     Chicago, Illinois 60601
     Phone: (312) 606-8641
     Fax: (312) 444-1028
     E-mail: sjakubowski@colemanlawfirm.com

                            About O&G Leasing

Jackson, Mississippi-based O&G Leasing, LLC, filed for Chapter 11
bankruptcy protection (Bankr. S.D. Miss. Case No. 10-01851) on
May 21, 2010.  Douglas C. Noble, Esq., at McCraney Montagnet &
Quin, PLLC, assists the Company in its restructuring effort.  The
Company estimated $10 million to $50 million in assets and $50
million to $100 million in liabilities.


O&G LEASING: First Security Proposes SolstenXP-Led Sale Process
---------------------------------------------------------------
First Security Bank, as indenture trustee for the bonds used to
fund the acquisition and construction of the rigs, asks the U.S.
Bankruptcy Court for the Southern District of Mississippi to
approve (A) proposed sales procedures in connection with
solicitation of offers for sale of substantially all assets of O&G
Leasing, LLC, and its affiliates, and (B) payment of a break-up
fee of $500,000 to SolstenXP Drilling, LLC, the proposed
purchaser.

On July 1, 2011, the Debtors filed their chapter 11 Plan of
Reorganization and Disclosure Statement.

The preliminary hearing on the Debtors' Disclosure Statement
presently is set for Aug. 23, 2011.

On July 22, 2011, the Indenture Trustee filed a competing chapter
11 Plan of Reorganization for the Debtors, in which the Indenture
Trustee sought the sale of substantially all of the Debtors'
assets, subject to submission of higher and better bids at an
auction.  On July 26, 2011, the Indenture Trustee filed its
Disclosure Statement.  The preliminary hearing on the Disclosure
Statement of the Indenture Trustee presently is set for Sept. 20,
2011.

The Final Hearing on the Disclosure Statements of the Debtors and
the Indenture Trustee is Sept. 28-29, 2011.

As proposed under the sales procedures, bids for the Purchased
Assets must be at least $250,000 in cash in excess of the amount
of the Cash Contribution as provided in the Purchased Agreement,
plus the amount of the Break-Up Fee.

No later than the Bid Deadline, a Potential Bidder must make a
Good Faith Deposit equal to 10% of its bid, to be held in the
trust account of the Deposit Agent.

All deadlines, auctions, and hearings will be set by Order of
the Bankruptcy Court.

The Indenture Trustee will request that the Sale Hearing be
conducted simultaneously and in conjunction with the Confirmation
Hearing on the Chapter 11 Plans filed by the Debtors and the
Indenture Trustee.

The Indenture Trustee will request that the Auction be set on the
business day immediately preceding the date of the Sale Hearing.

The Bid Deadline will be set by the Bankruptcy Court, but the
Indenture Trustee will request that the Bid Deadline be 7 days
before the date of the Sale Hearing.

Counsel for the Indenture Trustee may be reached at:

     Stephen W. Rosenblatt, Esq.
     Christopher R. Maddux, Esq.
     BUTLER SNOW O'MARA STEVENS & CANNADA, PLLC
     1020 Highland Colony Parkway, Suite 1400
     Ridgeland, MS 239157
     Tel: (601) 985-4502
     Fax: (601) 985-4500
     E-mail: steve.rosenblatt@butlersnow.com
             chris.maddux@butlersnow.com

                         About O&G Leasing

Jackson, Mississippi-based O&G Leasing, LLC, was formed in 2006 to
acquire and construct land drilling rigs that it would lease to
its wholly-owned subsidiary, Performance Drilling Company, LLC.
Performance was formed to provide contract drilling services for
ArkLaTex (Arkansas, Louisiana and Eastern Texas) region, as well
as Alabama, Florida, Mississippi and Oklahoma.  The Company filed
for Chapter 11 bankruptcy protection (Bankr. S.D. Miss. Case No.
10-01851) on May 21, 2010.  Douglas C. Noble, Esq., at McCraney
Montagnet & Quin, PLLC, assists the Company in its restructuring
effort.  The Company estimated $10 million to $50 million in
assets and $50 million to $100 million in liabilities.

On the same day, Performance Drilling Company, LLC, filed for
Chapter 11 bankruptcy protection.  Performance Drilling estimated
assets and debts of between $1 million to $10 million each.

The Debtors' cases have been jointly administered under Case No.
10-01851



OCEAN PLACE: Taps CB Richard as Real Estate Appraiser
-----------------------------------------------------
Ocean Place Development LLC asks the U.S. Bankruptcy Court for the
District of New Jersey for permission to employ CB Richard Ellis
Inc. as real estate appraiser.

The firm will provide valuation services to the Debtor, including
an appraisal of the Debtor's main hotel property located in Long
Branch, New Jersey, together with certain associated development
rights.  The firm may also provide services in addition to its
valuation services, to the extent these additional services are
necessary to the Debtor's formulation of a plan of reorganization,
or as otherwise required in this chapter 11 case.

The firm's compensation will be a $30,000 flat fee for preparing
an appraisal report for the resort property.  The firm may also
charge the following hourly rates for services such as meetings,
court preparation, court testimony, travel and related expenses,
if those services become necessary in addition to the services
related to preparing the appraisal report:

  MAI Appraiser(court testimony)             $500
  MAI Appraiser(other than court testimony)  $400
  Senior Appraiser                           $350
  Junior Appraiser                           $175

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

                   About Ocean Place Development

Ocean Place Development, LLC, owns a beachfront resort property in
Long Branch, New Jersey.  The Ocean Place resort is sited on 17-
acres featuring 1,000 feet of ocean frontage and is improved with
a 254-room hotel that includes 40,000 square feet of meeting
space, three restaurants, a bar/lounge, a full-service spa, and
numerous resort amenities.  It employs between 95 and 340
employees, depending upon the season, through the property
management entity West Paces Hotel Group, LLC.

Ocean Place filed a voluntary Chapter 11 petition (Bankr. D. N.J.
Case No. 11-14295) on Feb. 15, 2011.  Kenneth Rosen, Esq., at
Lowenstein Sandler, serves as the Debtor's bankruptcy counsel.
The Debtor estimated its assets and debts at $50 million to
$100 million.

As of the Petition Date, the Debtor owed $57,245,372 to AFP
pursuant to a Loan Agreement dated April 25, 2006, as amended from
time to time, entered into by and between the Debtor as borrower
and Barclays Capital Real Estate Inc. as lender.


ONTEORA ASSOCIATES: Loses Bid to Recover Foreclosed Asset
---------------------------------------------------------
Bankruptcy Judge Diane Davis denied a motion by Onteora
Associates' for summary judgment requesting the return of a
property seized by the Village of Fleischmanns.  Onteora
Associates, v. Village of Fleischmanns, Adv. Proc. No. 09-80076
(Bankr. N.D.N.Y.), seeks to avoid an alleged fraudulent transfer
of certain real property to the Village by virtue of a prepetition
in rem tax foreclosure proceeding commenced by the Village in the
New York State Supreme Court, Delaware County.  The Village
opposes the Debtor's Summary Judgment Motion on multiple grounds.

A copy of Judge Davis' Aug. 11 Letter-Decision and Order is
available at http://is.gd/4EkhNQfrom Leagle.com.

                     About Onteora Associates

Onteora Associates filed for Chapter 11 petition (Bankr. N.D.N.Y.
Case No. 09-63107) on Nov. 4, 2009, as a single-asset real estate
debtor under 11 U.S.C. Sec. 101(51B).  Richard and Brian Dowd are
listed in the Debtor's schedules as joint partners, each holding a
50% partnership interest, in the Debtor.  Onteora's real property
consists of a movie theater, two stores, and one apartment.  Its
schedules and Statement of Financial Affairs list a fair market
value for the Real Property in the amount of $331,717.  The Real
Property was encumbered only by a lien of the Delaware National
Bank of Delhi for $62,400 and aggregate outstanding taxes due,
including those due to the Village, for $31,820.

Counsel to Village of Fleischmanns is:

          Karen Veronica DeFio, Esq.
          Joseph Zagraniczny, Esq.
          BOND, SCHOENECK & KING, PLLC
          One Lincoln Center
          Syracuse, New York 13202
          Tel: (315) 218-8241
          Fax: (315) 218-8100
          E-Mail: kdefio@bsk.com
                  jzagraniczny@bsk.com

Counsel to Onteora Associates is:

          Richard H. Weiskopf, Esq.
          O'CONNELL AND ARONOWITZ, PC
          54 State Street, 9th Floor
          Albany, New York 12207
          Tel: 518-462-5601
          Fax: 518-462-2670
          E-mail: rweiskopf@oalaw.com


OTTER TAIL: Chapter 11 Plan of Liquidation Confirmed
----------------------------------------------------
BankruptcyData.com reports that the U.S. Bankruptcy Court
confirmed Otter Tail Ag Enterprises' Third Amended Chapter 11 Plan
of Liquidation.

According to the Plan, "each holder of an Allowed Administrative
Expense Claim shall receive Cash from the Liquidation Account
equal to the lesser of (A) the unpaid portion of such Allowed
Administrative Expense Claim, without interest, and (B) such other
amount agreed to by such holder on the later of (i) the Effective
Date; (ii) the date such Allowed Administrative Expense Claim
becomes due and payable under the terms governing the transaction
underlying the Allowed Administrative Expense Claim; and (iii) as
soon as practicable after the subject Administrative Expense Claim
becomes Allowed. Claims for professional fees may be paid
consistent with prior orders of the Court, the local rules of the
Court, or upon approval by the Court, if required. To the extent
there are any unpaid Priority Tax Claims, each holder of a
Priority Tax Claim, shall receive payment in full in Cash from the
Liquidation Account on the Effective Date, or as soon as
practicable after the Priority Tax Claim becomes Allowed."

                      About Otter Tail AG

Based in Fergus Falls, Minnesota, Otter Tail AG Enterprises, LLC
-- http://www.ottertailethanol.com/-- owned and operated a
nameplate capacity 55 million gallon annual production plant of
undenatured ethanol in Fergus Falls, Minnesota.  The Company
processes approximately 20 million bushels of corn into
approximately 55 million gallons of ethanol each year.  In
addition, the Company sells distillers grains, a principal
co-product of the ethanol production process.

The Company filed for Chapter 11 protection on Oct. 30, 2009
(Bankr. D. Minn. Case No. 09-61250).  Attorneys at Mackall,
Crounse & Moore, PLC, represent the Debtor in the Chapter 11 case.
Carl Marks Advisory Group LLC is the financial advisor.

The Debtor disclosed assets of $66.4 million against $86 million
in debt, nearly all secured, in its schedules.  The largest
secured creditor is AgStar Financial Services, owed $40.9 million.


OXIGENE INC: Incurs $2.9 Million Net Loss in Second Quarter
-----------------------------------------------------------
OXiGENE, Inc., reported a net loss of $2.93 million for the three
months ended June 30, 2011, compared with net income of $2.53
million for the same period during the prior year.  The Company
also reported a net loss of $3.79 million for the six months ended
June 30, 2011, compared with a net loss of $8.49 million for the
same period a year ago.

The Company's balance sheet at June 30, 2011, showed $9.46 million
in total assets, $2.23 million in total liabilities and $7.22
million in total stockholders' equity.

At June 30, 2011, OXiGENE had cash, cash equivalents and
restricted cash of approximately $8.5 million compared with
approximately $4.7 million at Dec. 31, 2010.

"The presentation of data at ASCO in June was a significant
milestone for OXiGENE," said Peter J. Langecker, M.D., Ph.D.,
OXiGENE's Chief Executive Officer.  "The FACT data on overall
survival in patients with anaplastic thyroid cancer strongly
suggests that ZYBRESTAT may be effective in battling one of the
most lethal cancers, and has generated enthusiasm from the
oncology community and the key opinion leaders in this field.  Our
immediate focus now is to obtain sufficient financing to conduct
the FACT2 Phase 3 registration trial in ATC, and we are actively
pursuing this goal."

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

                         About OXiGENE Inc.

South San Francisco, Calif.-based OXiGENE (Nasdaq: OXGN)
-- http://www.oxigene.com/-- is a clinical-stage
biopharmaceutical company developing novel therapeutics to treat
cancer and eye diseases.

The Company reported a consolidated net loss of $23.77 million on
$0 of license revenue for the year ended Dec. 31, 2010, compared
with a consolidated net loss of $28.94 on $0 of license revenue
during the prior year.

As reported by the Troubled Company Reporter on March 23, 2011,
Ernst & Young LLP, after auditing the Company's financial
statements for the year ended Dec. 31, 2010, expressed substantial
doubt about the Company's ability to continue as a going concern.
Ernst & Young noted that the Company has incurred recurring
operating losses and will be required to raise additional capital,
alternative means of financial support, or both, prior to Jan. 1,
2012 in order to sustain operations.  According to Ernst & Young,
the ability of the Company to raise additional capital or
alternative sources of financing is uncertain.


PACESETTER FABRICS: Trustee Wants RHD to Waive Prepetition Claim
----------------------------------------------------------------
The U.S. Trustee for Region 16 filed with the U.S. Bankruptcy
Court for the Central District of California its objection to
Pacesetter Fabrics, LLC's application to employ Rutter Hobbs &
Davidoff Incorporated as general bankruptcy counsel.

As reported in the Troubled Company Reporter on July 26, 2011, RHD
will advise the Debtor as to its duties under the Bankruptcy Code,
and its prosecution claims in the bankruptcy case; assist in
connection with its financial affairs; and prepare a plan of
reorganization or sale of assets.

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

The U.S. Trustee objects to RHD's request to be paid on a monthly
basis in accordance with Knudsen procedures and requests that any
order approving the employment specifically state that RHD will
waive all prepetition claims against the Debtor.

RHD seeks payment on a monthly basis for its fees and costs in
accordance with a procedure similar to the one allowed in re
Knudsen Corp.  However, the procedure described in Knudsen must
only be allowed in extraordinary circumstances and RHD failed to
meet is burden that it is entitled to payments in accordance with
Knudsen procedure.

                     About Pacesetter Fabrics

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

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

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


PACIFIC ENERGY: Miller Overvalued Alaskan Assets, Investor Says
---------------------------------------------------------------
Ian Thoms at Bankruptcy Law360 reports that a Miller Energy
Resources Inc. shareholder on Friday lodged a proposed class
action accusing the Tennessee-based oil and natural gas company of
overvaluing the Alaskan assets it purchased for $2.25 million
during a rival company's Chapter 11 proceeding.

Shareholder Ruben Husu alleges Miller Energy misled investors into
believing the production facilities and energy reserves it bought
from Pacific Energy Resources Ltd. in December 2009 were worth
$325 million, when, in fact, they were worth less than $30 million
and came with some $40 million in liabilities, Law360 relates.

                        About Pacific Energy

Headquartered in Long Beach, California, Pacific Energy Resources
Ltd. -- http://www.pacenergy.com/-- engaged in the acquisition
and development of oil and gas properties, primarily in the United
States.  The Company and seven of its affiliates filed for
Chapter 11 protection on March 8, 2009 (Bankr. D. Del. Lead Case
No. 09-10785).  The Debtor estimated between $100 million and
$500 million in assets and debts in its Chapter 11 petition.

Attorneys at Pachulski Stang Ziehl & Jones LLP, serve as
bankruptcy counsel to the Debtors.  The Debtors also tapped Rutan
& Tucker LLP as special corporation and litigation counsel;
Schully, Roberts, Slattery & Marino, PLC, as special oil and gas
and transactional counsel; Devlin Jensen as special Canadian
counsel; Scott W. Winn, at Zolfo Cooper Management, LLC, as chief
restructuring officer; Lazard Freres & Co. LLC as investment
banker; and Albrecht & Associates, Inc., as agent for the Debtors
in the sale of their oil and gas properties.  Omni Management
Group, LLC, is the claims, balloting, notice and administrative
agent for the Debtors.


PADULA MASONRY: Case Summary & 19 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Padula Masonry, Inc.
        P.O. Box 750
        Ocean City, NJ 08226

Bankruptcy Case No.: 11-34038

Chapter 11 Petition Date: August 12, 2011

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

Judge: Judith H. Wizmur

Debtor's Counsel: David A. Kasen, Esq.
                  KASEN & KASEN
                  1874 East Route 70, Suite 3
                  Cherry Hill, NJ 08003
                  Tel: (856) 424-4144
                  E-mail: dkasen@kasenlaw.com

Scheduled Assets: $54,580

Scheduled Debts: $1,688,091

A list of the Company's 19 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/njb11-34038.pdf

The petition was signed by Ronald M. Padula, president.


PALM HARBOR: Disclosure Statement Hearing Set for Sept. 13
----------------------------------------------------------
Palm Harbor Homes, Inc., its five co-debtors, and the Official
Committee of Unsecured Creditors ask the U.S. Bankruptcy Court for
the District of Delaware to approve the disclosure statement to
their proposed Joint Plan of Liquidation, dated Aug 5, 2011.

The primary purpose of the Plan is to provide for the orderly
liquidation of the Debtors and the distribution of the proceeds of
the sale of substantially all of their assets to the Purchaser
that closed in April 2011 as well as any other applicable assets
of the Debtors to certain Holders of Allowed Claims.

Because substantially all of the Debtors' assets were sold as part
of the Sale Transaction to the Purchaser, the Plan provides for
the formation of a Post-Consummation Trust that will administer
the Post-Consummation Trust Assets in accordance with the Plan.

                  Summary of Expected Recoveries

                      Projected
Class                  Recovery                Treatment
-----                 ---------                ---------
  1                      100%       Payment in full in Cash.
Other Priority Claims

  2                      100%       Each Holder of an Allowed
Other Secured Claims                Class 2 Claim will receive
                                    (i) the collateral securing
                                    the Allowed Other Secured
                                    Claim or (ii) Cash in an
                                    amount equal to the value of
                                    the collateral.

  3                  16.7 - 21%     Pro rata share of available
3.25% Convertible                   Cash or other consideration.
Senior Notes Claims                 Upon the Effective Date, the
                                    3.25% Convertible Senior
                                    Notes Claim will be an
                                    Allowed Claim in the amount
                                    of $54,783,174.  Any claims
                                    filed by beneficiaries of the
                                    3.25% Convertible Senior
                                    Notes Indenture other than
                                    the 3.25% Convertible Senior
                                    Notes Indenture Trustee will
                                    be deemed superseded or
                                    amended by the 3.25%
                                    Convertible Senior Notes
                                    Claim.

  4                  16.7 - 21%     Pro rata share of available
General Unsecured                   Cash or other consideration.
Claims

  5                       0%        Extinguished under the Plan.
Intercompany Claims

  6                       0%        No distribution.
Equity Interests

The Debtors' liquidation analysis shows that recovery under
Chapter 11 liquidation is higher compared to recovery under
Chapter 7.

Full-text copies of the Plan, Disclosure Statement, and related
documents are available at no charge at:

  http://bankrupt.com/misc/PalmHarborTCR_PlanDSLiqAn080511.pdf
http://bankrupt.com/misc/PalmHarborTCR_BallotsNotices080511.pdf

The Debtors' counsel, Christopher A. Ward, Esq., at Polsinelli
Shuhart PC, in Wilmington, Delaware, asserts that the Disclosure
Statement contains the pertinent information necessary for Holders
of Claims to make an informed decision about whether to vote to
accept or reject the Plan.  The Plan Proponents submit that the
Disclosure Statement "contains more than sufficient information"
for a hypothetical reasonable investor to make an informed
judgment about the Plan and that it complies with all aspects of
Section 1125 of the Bankruptcy Code.

The Plan Proponents also ask the Court to establish Sept. 13,
2011, as the voting record date for determining (i) the Holders of
Claims that are entitled to receive the solicitation package in
accordance with the solicitation procedures; (ii) the Holders of
Claims that are entitled to vote to accept the Plan; (iii) whether
Claims have been property assigned or transferred to an assignee
pursuant to Bankruptcy Rule 3001(e); and (iv) the identity of the
Holders of Equity Interests for noticing purposes.

The Plan Proponents further ask the Court to set:

   (a) Oct. 12, 2011, at 4:00 p.m., prevailing Eastern Time, as
       the voting deadline for all Holders of Claims in the
       Voting Classes to vote on the Plan as specified in the
       Solicitation Procedures;

   (b) Oct. 14, 2011, as the deadline for filing the voting
       results of the Plan.  BMC Group, Inc. is employed as the
       Debtors' voting and claims agent;

   (c) Oct. 19, 2011, as the deadline for Entities to file
       objections to the confirmation of the Plan;

   (d) Oct. 26, 2011, as the deadline for any party supporting
       the Plan to file a response to any objection to
       confirmation of the Plan; and

   (e) Nov. 1, 2011, as the date for a hearing on confirmation of
       the Plan.

The Debtors intend to distribute Solicitation Packages to all
Holders of Claims entitled to vote on the Plan, by Sept. 21, 2011.

A hearing to approve the Disclosure Statement is set for Sept. 13,
2011, at 1:00 p.m., prevailing Eastern Time.

In a separate filing, the Honorable Christopher S. Sontchi
approved the application of Palm Harbor Homes, Inc., et al., to
employ Bifferato Gentilotti LLC as their special conflicts
counsel, nunc pro tunc to Apr. 1 2011.

                   About Palm Harbor Homes

Addison, Texas-based Palm Harbor Homes, Inc. --
http://www.palmharbor.com/-- manufactured and marketed factory-
built homes.  The Company marketed nationwide through vertically
integrated operations, encompassing manufactured and modular
housing, financing and insurance.

Palm Harbor, along with affiliates, filed for Chapter 11
bankruptcy protection (Bankr. D. Del. Lead Case No. 10-13850) on
Nov. 29, 2010.  It disclosed $321,263,000 in total assets and
$280,343,000 in total debts.

Brian Cejka at Alvarez & Marsal is the Debtors' chief
restructuring officer.  Raymond James and Associates, Inc., is the
Debtors' investment banker.  Alvarez & Marshal North America, LLC,
is the Debtors' financial advisor.  BMC Group, Inc., is the
Debtors' claims agent.  Pachulski Stang Ziehl & Jones LLP serves
as counsel to the Official Committee of Unsecured Creditors.

Following a court-approved sale process, Palm Harbor in March 2011
sold its business for $85.25 million to Fleetwood Enterprises
Inc., a venture between Cavco Industries Inc. and a fund advised
by Third Avenue Management LLC.  Fleetwood is providing up to $55
million in secured financing for Palm Harbor's reorganization.

As reported in the TCR on May 16, 2011, Cavco Industries and
Fleetwood Homes filed with the 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.


PARAMOUNT LIMITED: Has Until Aug. 26 to File Financial Statements
-----------------------------------------------------------------
Judge Thomas J. Tucker approved the stipulation among Paramount
Limited, LLC, et al., and the Office of the U.S. Trustee to extend
until Aug. 26, 2011, the deadline for the Debtor to file Schedules
and Statements of Financial Affairs.

                     About Paramount Limited

Paramount Limited LLC was an investor in distressed real estate.
Paramount Limited and three other affiliates sought Chapter 11
bankruptcy protection (Bankr. E.D. Mich. Lead Case No. 11-59829)
on July 21, 2011, after a state court appointed McTevia &
Associates as receiver to take over.  The receiver was appointed
at the behest of the Police and Fire Retirement System of the city
of Detroit, one of Paramount's unsecured creditors, with $13.2
million owed.  The Retirement System said Paramount was "a classic
Ponzi scheme."

Judge Thomas J. Tucker presides over the case.  Gene R. Kohut of
Kohut Management Group, LLC, has been tapped to serve as their
Chief Restructuring Officer.  Stephen M. Gross, Esq., and Jayson
Russ, Esq., at McDonald Hopkins Plc, serve as bankruptcy counsel.
Paramount Limited estimated assets of more than $10 million and
debt of less than $10 million.  The petition was signed by Abner
McWhorter, Paramount's managing member.

Affiliates that simultaneously sought Chapter 11 protection are
Paramount Land Holdings, LLC; Paramount Servicing, LLC; and
Paramount Land Holdings, LLC.

The receiver is represented by:

          Mark S. Frankel, Esq.
          Jerry M. Ellis, Esq.
          COUZENS LANSKY FEALK ELLIS ROEDER & LAZAR P.C.
          39395 W. Twelve Mile Road, Suite 200
          Farmington Hills, MI 48331
          Tel: 248-489-8600
          E-mail: mfrankel@couzens.com
                  jerry.ellis@couzens.com

The Police and Fire Retirement System is represented by:

         Marie T. Racine, Esq.
         Jennifer A. Cupples, Esq.
         RACINE & ASSOCIATES
         1001 Woodward Avenue, Suite 1100
         Detroit, MI 48226
         Tel: 313-961-8930
         Fax: 313-961-8945
         E-mail: mracine@racinelaw.us
                 jcupples@racinelaw.us


PECAN SQUARE: Hires The Law Office of Illyssa I. Fogel as Counsel
-----------------------------------------------------------------
Pecan Square, Ltd. sought and obtained authority from the U.S.
Bankruptcy Court for the Southern District of California to employ
The Law Office of Illyssa I. Fogel as its bankruptcy counsel.

As Counsel, the Firm will render these services:

     * Give the Debtor legal advice with respect to its rights,
       powers, obligations, and duties as debtor;

     * Represent the Debtor in adversary proceedings and other
       ancillary matters as may be directly related to the case;

     * Advise the Debtor concerning the requirements of the
       Bankruptcy Code and Rules relating to the operation of the
       business of the estate; and

     * Advise the Debtor concerning the various post-confirmation
       matters.

The Debtor may, from time to time, request the Firm to undertake
specific matters beyond the limited scope of the responsibilities
enumerated.

The Firm was given a $25,000 retainer.  It withdrew $8,284 from
its trust account to cover pre-filing fees and expenses.  The
Firm's current hourly rates are:

          Illyssa I. Fogel, attorney                   $350
          Legal assistant                              $175

The Firm will also be reimbursed for actual out-of-pocket
expenses.

The Debtor believes that the Firm is a disinterested party within
the meaning of the Bankruptcy Code, which does not hold or
represent an interest adverse to the estate in the matters in
which it is to be engaged.

Dallas, Texas-based Pecan Square, Ltd., a California Limited
Partnership, filed for Chapter 11 bankruptcy protection (Bankr.
S.D. Calif. Case No. 11-05359) on March 31, 2011.  Illyssa I.
Fogel, Esq., at the Law Office of Illyssa I. Fogel, serves as the
Debtor's bankruptcy counsel.  In its schedules, the Debtor
disclosed $35,215 in assets and $9,484,877 in liabilities.


PETTERS COMPANY: Chapter 11 Trustee Taps Cooperstein and Haynes
--------------------------------------------------------------
Douglas A. Kelley, Chapter 11 Trustee Petters Company, Inc., et
al., seeks to employ (i) the Law Office of Eric T. Cooperstein,
PLLC, as his counsel, effective March 18, 2011, and (ii) Haynes
and Boone, LLP, as his special counsel, effective October 1, 2010.

Mr. Kelley wishes to retain Cooperstein to provide an ethics
opinion and possible expert testimony regarding the Bankruptcy
Estates' potential claims against professional service firms and,
potentially, certain of the firms' partners or shareholders.

Cooperstein will be paid an hourly rate of $300 and will be
reimbursed of actual, necessary expenses.

As Special Counsel, Haynes and Boone will advise and represent the
Chapter 11 Trustee with respect to the maintenance of intellectual
property assets of Springworks, LLC, a wholly owned subsidiary of
Debtor Petters Group Worldwide, LLC.

The current hourly rate of Gary Edwards, the Haynes and Boone
attorney who will be representing the Debtors, is discounted from
$560 to $500.  Haynes and Boone will also be reimbursed of actual,
necessary expenses.

Haynes and Boones has disclosed certain past and future
relationships that do not constitute conflicts.  The Firm agrees
not to represent any other entity in connection with these Chapter
11 cases while employed by the Chapter 11 Trustee.

The Chapter 11 Trustee believes that Cooperstein and Haynes and
Boone do not hold or represent any material interest adverse to
the Debtors or their estates.

                       About Petters Group

Based in Minnetonka, Minn., Petters Group Worldwide LLC is a
collection of some 20 companies, most of which make and market
consumer products.  It also works with existing brands through
licensing agreements to further extend those brands into new
product lines and markets.  Holdings include Fingerhut (consumer
products via its catalog and Web site), SoniqCast (maker of
portable, WiFi MP3 devices), leading instant film and camera
company Polaroid (purchased for $426 million in 2005), Sun Country
Airlines (acquired in 2006), and Enable Holdings (online
marketplace and auction for consumers and manufacturers' overstock
inventory).  Founder and chairman Tom Petters formed the company
in 1988.

Petters Company, Inc., is the financing and capital-raising unit
of Petters Group Worldwide.

Thomas Petters, the founder and former CEO of Petters Group, has
been indicted and a criminal proceeding against him is proceeding
in the U.S. District Court for the District of Minnesota.

Petters Company, Petters Group Worldwide and eight other
affiliates filed separate petitions for Chapter 11 protection
(Bankr. D. Minn. Lead Case No. 08-45257) on Oct. 11, 2008.  In its
petition, Petters Company estimated its debts at $500 million and
$1 billion.  Parent Petters Group Worldwide estimated its debts at
not more than $50,000.

Fruth, Jamison & Elsass, PLLC, represents Douglas Kelley, the duly
appointed Chapter 11 Trustee of Petters Company, Inc., et al.

Petters Aviation, LLC, and affiliates MN Airlines, LLC, doing
business as Sun Country Airlines, Inc., and MN Airline Holdings,
Inc., filed separate petitions for Chapter 11 bankruptcy
protection (Bankr. D. Minn. Case Nos. 08-45136, 08-35197 and
08-35198) on Oct. 6, 2008.  Petters Aviation is a wholly owned
unit of Thomas Petters Inc. and owner of MN Airline Holdings, Sun
Country's parent company.


PHARMOS CORP: Posts $500,400 Net Loss in 2nd Quarter
----------------------------------------------------
Pharmos Corporation filed its quarterly report on Form 10-Q,
reporting a net loss of $500,433 for the three months ended
June 30, 2011, compared with a net loss of $431,979 for the same
period of 2010.  Pharmos generated zero revenue for both periods.

The Company reported a net loss of $1.10 million for the six
months ended June 30, 2011, compared with a net loss of $923,357
for the same period of 2010.

The Company's balance sheet at June 30, 2011, showed $2.19 million
in total assets, $1.14 million in total liabilities, and
stockholders' equity of $1.05 million.

As reported in the TCR of Feb. 24, 2011, Friedman LLP, in East
Hanover, N.J., expressed substantial doubt about Pharmos' ability
to continue as going concern, following the Company's 2010
results.  The independent auditors noted that the Company has
suffered recurring losses from operations, has an accumulated
deficit and expects to continue to incur losses going forward.

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

                    About Pharmos Corporation

Iselin, New Jersey-based Pharmos Corporation is a
biopharmaceutical company that discovers and develops novel
therapeutics to treat a range of diseases of the nervous system,
including disorders of the brain-gut axis (e.g., Irritable Bowel
Syndrome), with a focus on pain/inflammation, and autoimmune
disorders.  The Company's most advanced product is Dextofisopam
for the treatment of irritable bowel syndrome (IBS).


PHILADELPHIA ORCHESTRA: Taps Luken & Wolf as Real Estate Appraiser
------------------------------------------------------------------
The Philadelphia Orchestra and Academy of Music of Philadelphia,
Inc., ask the U.S. Bankruptcy Court for the Eastern District of
Pennsylvania for authorization to employ Lukens & Wolf LLC as the
Debtors' real estate appraiser and consultant.

The Debtors tell the Court they require the services of Lukens to
value the Academy of Music building, located at Broad and Locust
Streets, Philadelphia, and certain commercial space located at
1420 Locust Street, Philadelphia (collectively, the "Academy
Property").

Lukens will also consider and evaluate the leases and restrictions
on the Academy Property to determine the impact such leases and
restrictions have on the value of the property.

The hourly rates of those employed by Lukens who may perform work
for the Debtors are:

     Reaves C. Lukens, Jr.              $395/hour
     Reaves C. Lukens, III              $275/hour
     Richard F. Wolf                    $275/hour
     Other Licensed Appraisers          $125/hour
     Researcher/Appraiser Assistant     $100/hour

Reaves C. Lukens, Jr., a principal in Lukens & Wolf, assures the
Court that the firm is a "disinterested person" as that term is
defined in Section 101(14) of the Bankruptcy Code, as modified by
Section 1107(b), and that the firm does not hold or represent an
interest adverse to the Debtors' estates.

                 About the Philadelphia Orchestra

The Philadelphia Orchestra -- http://www.philorch.org/-- claims
to be among the world's leading orchestras.  Bloomberg News says
the orchestra became the first major U.S. symphony to file for
bankruptcy protection, surprising the music world.

Previous conductors include Fritz Scheel (1900-07), Carl Pohlig
(1907-12), Leopold Stokowski (1912-41), Eugene Ormandy (1936-80),
Riccardo Muti (1980-92), Wolfgang Sawallisch (1993-2003), and
Christoph Eschenbach (2003-08).  Charles Dutoit is currently chief
conductor, and Yannick Nezet-Seguin has assumed the title of music
director designate until he takes up the baton as The Philadelphia
Orchestra's next music director in 2012.

The Philadelphia Orchestra Association, The Academy of Music of
Philadelphia, Inc., and Encore Series, Inc., filed separate
Chapter 11 petitions (Bankr. E.D. Pa. Case Nos. 11-13098 to
11-13100) on April 16, 2011.  Judge Eric L. Frank presides over
the case.  The Philadelphia Orchestra Association is being advised
by Dilworth Paxson LLP, its legal counsel, and Alvarez & Marsal,
its financial advisor.  Curley, Hessinger & Johnsrud serves as its
special counsel.  In its petition, Philadelphia
Orchestra estimated $10 million to $50 million in assets and
debts.

Encore Series, Inc., tapped EisnerAmper LLP as accountants and
financial advisors.

Roberta A. DeAngelis, the U.S. Trustee for Region 3, appointed
seven members to the official committee of unsecured creditors in
the Debtors' case.  Reed Smith LLP serves as the Committee's
counsel.

The orchestra at the start of the Chapter 11 case said it needed
relief from pension obligations, a new lease with the Kimmel
Center where it performs, and a new union contract with musicians.


PHYSICAL PROPERTY: Incurs HK$119,000 Net Loss in Second Quarter
---------------------------------------------------------------
Physical Property Holdings Inc. filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss and total comprehensive loss of HK$119,000 on HK$208,000
of total operating revenues for the three months ended June 30,
2011, compared with a net loss and total comprehensive loss of
HK$138,000 on HK$164,000 of total operating revenues for the same
period during the prior year.

The Company also reported a net loss and total comprehensive loss
of HK$271,000 on HK$401,000 of total operating revenues for the
six months ended June 30, 2011, compared with a net loss and total
comprehensive loss of HK$279,000 on HK$348,000 of total operating
revenues for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed HK$10.51
million in total assets, $HK11.27 million in total liabilities,
all current, and a HK$764,000 total stockholders' deficit.

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

                        http://is.gd/DtmKDR

                      About Physical Property

Physical Property Holdings Inc. (formerly known as Physical Spa &
Fitness Inc.), through its wholly-owned subsidiary Good Partner
Limited, owns five residential apartments located in Hong Kong.
The Company was incorporated on Sept. 21, 1988, under the laws
of the United States of America.

The Company reported a net loss and total comprehensive loss of
HK$640,000 on HK$765,000 of rental income for the year ended
Dec. 31, 2010, compared with a net loss and total comprehensive
loss of HK$899,000 on HK$602,000 of rental income during the prior
year.

As reported by the TCR on April 7, 2011, Mazars CPA Limited, in
Hongkong, expressed substantial doubt about the Company's ability
to continue as a going concern, following the Company's 2010
financial results.  The independent auditors noted that the
Company had a negative working capital as of Dec. 31, 2010 and
incurred loss for the year then ended.


PIEDMONT CENTER: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Piedmont Center Investments, LLC
        P.O. Box 6449
        Raleigh, NC 27628

Bankruptcy Case No.: 11-06178

Chapter 11 Petition Date: August 11, 2011

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

Judge: Stephani W. Humrickhouse

Debtor's Counsel: Trawick H. Stubbs, Jr., Esq.
                  STUBBS & PERDUE, P.A.
                  P.O. Drawer 1654
                  New Bern, NC 28563
                  Tel: (252) 633-2700
                  Fax: (252) 633-9600
                  E-mail: efile@stubbsperdue.com

Scheduled Assets: $27,211,171

Scheduled Debts: 15,461,599

The petition was signed by Roger V. Camp, manager.

Debtor's List of 20 Largest Unsecured Creditors:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Capital Bank              guaranty claim of      $1,881,039
Attn: Bank Officer        FEC Partners, LLC
PO Box 71083
Charlotte, NC 28272-1083

QubicaAMF Worldwide LLC                          $50,000
Attn: Manager or Agent
LBX 759005
Baltimore, MD 21275-9005

Person County Tax Coll.   2011 property taxes    $26,872
Attn: Manager or Agent
PO Box 1701
Roxboro, NC 27573

Alamance County Tax       2011 property taxes    $23,719
Collector

Chatham County Tax        2011 property taxes    $22,003
Ovvice

Rella Cowan, Inc.                                $21,000

Town of Nashville         2011 property taxes    $13,436
Tax Coll.

City of Mebane                                   $11,976

Guilford County Tax       2011 property taxes    $11,995
Dept.

Hertford County Tax       2011 property taxes    $10,197
Coll.

First Citizen Bank        credit card            $9,547

Town of Gibsonville       2011 property taxes    $7,167

City of Graham Tax        2011 property taxes    $7,102
Coll.

Integrated Design                                $6,235

Toshiba Business                                 $5,677
Solutions

Duke Energy                                      $4,984

Bonita Marie Int'l                               $4,934

First Citizens Bank      credit card             $4,097

Krugell, Lawton &                                $2.860
Company

First Citizens Bank      credit card             $2,684


POWER EFFICIENCY: John Lackland Resigns from All Positions
----------------------------------------------------------
John (BJ) Lackland notified the board of directors of Power
Efficiency Corporation that he will be resigning from the
positions of Chief Financial Officer, Secretary and Director
effective Aug. 15, 2011.  Mr. Lackland's resignation is not as a
result of any disagreement with the Company's operations, policies
or practices.

On Aug. 5, 2011, Brian Chan was promoted to the position of Vice
President of Finance and Accounting.  Mr. Chan will continue to be
the Treasurer of the Company, a position which he has held since
2005.  Upon Mr. Lackland's resignation, Mr. Chan will serve as the
principal accounting officer and he will assume all of the duties
previously performed by Mr. Lackland.  Before joining the Company,
from 2003-2005 Mr. Chan was an accountant at Johnson Jacobson
Wilcox, a Las Vegas accounting firm specializing in privately held
construction and real estate companies.  Mr. Chan is a licensed
Certified Public Accountant in California (inactive), and has a
Bachelor of Arts in Business Economics with an emphasis in
Accounting from University of California Santa Barbara.

On Aug. 5, 2011, the Company promoted Rick Sander to the position
of Chief Operating Officer.  Prior to joining Power Efficiency,
from 1997 to 2011, Mr. Sander was the President & Chief Executive
Officer of ISE Corporation, a developer of a hybrid/EV drive
system for commercial vehicles.  Prior to ISE, Mr. Sander was the
Vice President of Worldwide Operations and Supply Chain Management
for Smart Modular Technologies, a $1 billion producer of memory
and embedded computing.  Mr. Sander earned his M.B.A. from San
Diego State University and a B.S. in Industrial Manufacturing
Engineering from Oregon State University.

                       About Power Efficiency

Las Vegas, Nevada-based Power Efficiency Corporation (OTC: PEFF) -
- http://www.powerefficiency.com/-- is a clean technology
company focused on efficiency technologies for electric motors.

The Company's balance sheet at March 31, 2011, showed $4.3 million
in total assets, $1.2 million in total liabilities, and
stockholders' equity of $3.1 million.

As reported in the TCR on April 6, 2011, BDO USA, LLP, in Las
Vegas, Nevada, expressed substantial doubt about Power
Efficiency's ability to continue as a going concern, following the
Company's 2010 results.  The independent auditors noted that the
Company has suffered recurring losses and has generated negative
cash flows from operations.


PROFESSIONAL VETERINARY: Seeks to Avoid Transfers to DVM
--------------------------------------------------------
Professional Veterinary Products, Ltd. filed a complaint against
Direct Vet Marketing, Inc., seeking judgment from the U.S.
Bankruptcy Court for the District of Nebraska:

     * Determining whether DVM gave reasonably equivalent value
       for the transfers of the assets and services under certain
       purchase agreements, and if not, avoiding the transfers of
       those assets and services under the Purchase Agreements as
       fraudulent conveyances pursuant to Section 548(a)(1)(B) of
       the Bankruptcy Code;

     * Awarding judgment in favor of the Debtor and against DVM
       pursuant to Section 550 of the Bankruptcy Code in an
       amount equal to the value of the transfers that are
       determined by the Court to be fraudulent conveyances and
       avoidable;

     * Disallowing any claim in favor of DVM until payment of any
       damages so awarded until Sections 548 and 550;

     * Alternatively awarding judgment against DVM and in favor
       of the Debtor pursuant to Nebraska's Uniform Fraudulent
       Transfer Act and granting the relief allowed thereunder;
       and

     * For interest, costs and attorney's fees to the extent
       allowed by law.

James G. Powers, Esq., at McGrath North Mullin & Kratz, PC LLO, in
Omaha, Nebraska, relates that the Debtor's claims against DVM
arise out of the Defendant's purchase of one of the Debtor's
business segments -- Vet's First Choice -- on June 11, 2010.  The
purchase occurred shortly before the Debtor's bankruptcy filing
and at a time when it was insolvent, he says.

As part of the purchase, DVM required the Debtor to enter into a
Master Service Agreement to essentially run the VFC Business for
the Defendant for consideration "much less than the value of those
assets and services," Mr. Powers tells the Court.

Notwithstanding the amount DVM paid for VPC, the Defendant has now
filed and is pursuing a claim -- Claim No. 509 -- in the Debtor's
bankruptcy case in excess of $17,500,000, which amount DVM asserts
equals the value it will have had to expend to duplicate the
assets and services it acquired from the Debtor under the Purchase
Agreements.

If the value of what DVM purchased from the Debtor under the
Purchase Agreements is comparable to the amount of the claim filed
by the Defendant, the Debtor is entitled to recover the value of
that transfer as a constructively fraudulent conveyance under
Sections 548 and 550 as well as under Nebraska's Uniform
Fraudulent Transfer Act, Mr. Powers asserts.

The Debtor is currently prosecuting its objections to the DVM
Claim as a contested matter.  Give the similarity of issues
between the Objection and this complaint, the Debtor requests that
this adversary proceeding be consolidated with the Objection
Proceeding through trial.

              About Professional Veterinary Products

Professional Veterinary Products Ltd. -- http://www.pvpl.com/--
operates a veterinary supply company owned and managed by
veterinarians.

Professional Veterinary sought Chapter 11 protection from
creditors on Aug. 20, 2010, in Omaha, Nebraska (Bankr. D. Neb.
Case No. 10-82436).  Affiliates ProConn and Exact Logistics also
filed for Chapter 11.

The Company reported $89.79 million in total assets,
$78.23 million in total liabilities, and $11.56 million in
stockholders' equity at April 30, 2010.

The Company hired McGrath North Mullin & Kratz PC LLC, as
bankruptcy counsel and Alliance Management as financial and
restructuring advisors.


PUBLIC MEDIA: Hires Salzwedel for Investor Relations Services
-------------------------------------------------------------
Public Media Works, Inc., entered into an Independent Contractor
Agreement, on Aug. 1, 2011, with Salzwedel Financial
Communications, Inc., for the provision of investor relations
services for the Company.  The Investor Relations Agreement is for
a term of six months, and provides for the Company's issuance of
600,000 shares of restricted common stock, 600,000 warrants to
purchase shares of restricted common stock at $.10 per share and
$10,000 per month in compensation for the term.  The remaining
terms are substantially the same as the terms of the previous
investor relations agreement which expired on Aug 1, 2011.  A
full-text copy of the Independent Consulting Agreement is
available for free at http://is.gd/9acFLC

During the period commencing June 5, 2011, through the period
ending July 29, 2011, the Company agreed to sell 1,270,000 shares
of restricted Company common stock at $.10 per share to 4
accredited investors, which resulted in gross proceeds of $127,000
to the Company.

On July 29, 2011, the Company issued 200,000 shares of Company
common stock to Signifi Solutions, Inc., in consideration for the
payment of 15% of the purchase price for kiosks purchased by the
Company from Signifi.  The shares of Company common stock were
valued at $.50 per share as provided by the terms of the Company's
previously announced agreement with Signifi.

On July 29, 2011, the Company issued 128,571 shares of Company
common stock to an accredited investor in connection with the
exercise of options issued by the Company in November 2007.  The
options were exercised through a cashless exercise and the Company
did not receive any proceeds from the issuance of shares.

On July 29, 2011, the Company issued 2,122,750 shares of
restricted Company common stock to 3 accredited investors pursuant
to the Company's previous contractual obligations to the investors
to issue each of them additional shares in the event the Company
sold shares for less than the $.25 price per shares paid by such
investors.  The Company did not receive any additional proceeds
from the issuance of the shares.

On Aug. 1, 2011, the Company agreed to issue 600,000 shares of
Company common stock, and warrants to purchase 600,000 shares of
Company common stock, to Salzwedel Financial Communications, Inc.,
in connection with the Investor Relations Agreement.

As of Aug. 3, 2011, the Company has 38,903,115 shares of common
stock outstanding.

                      About Public Media Works

Sausalito, Calif.-based Public Media Works, Inc., and its wholly-
owned subsidiary, EntertainmentXpress, Inc., a California
corporation , are engaged in the business of offering self-service
kiosks which deliver DVD movies to consumers.

Public Media Works, Inc., has historically been engaged in the
development, production, marketing and distribution of film, music
and television entertainment titles.  The Company has an ownership
interest in several film and television projects, but expects no
revenue from these projects.  As of May 4, 2010 with the
acquisition of Entertainment Xpress, Inc., the Company has focused
exclusively on its kiosk business and intends to continue this
focus going forward.  In March 2011, the Company installed its
first 25 kiosks under the DBA of "Spot. The difference(TM)".

Anton & Chia, LLP, in Newport Beach, California, expressed
substantial doubt about Pubic Media Works' ability to continue as
a going concern.  The independent auditors noted that the Company
has incurred significant recurring net losses and negative cash
flows from operations through Feb. 28, 2011, and it has an
accumulated deficit of $12.83 million as of Feb. 28, 2011.

The Company reported a net loss of $7.68 million on $7,139 of
revenue for the fiscal year ended Feb. 28, 2011, compared with a
net loss of $108,435 on $50,000 of revenue for the fiscal year
ended Feb. 28, 2010.

The Company's balance sheet at May 31, 2011, showed $862,106 in
total assets, $1.17 million in total liabilities and a $307,366 in
total stockholders' deficit.


QUANTUM CORP: FMR LLC Discloses 10.07% Equity Stake
---------------------------------------------------
In an amended Schedule 13G filing with the U.S. Securities and
Exchange Commission, FMR LLC and Edward C. Johnson 3d disclosed
that they beneficially own 23,190,600 shares of common stock of
Quantum Corporation representing 10.077% of the shares
outstanding.  As of the close of business on Aug. 2, 2011, 231.9
million shares of the Company's common stock were issued and
outstanding.  A full-text copy of the filing is available for free
at http://is.gd/IlrPpk

                        About Quantum Corp.

Based in San Jose, California, Quantum Corp. (NYSE:QTM) --
http://www.quantum.com/-- is a storage company specializing in
backup, recovery and archive.  Quantum provides a comprehensive,
integrated range of disk, tape, and software solutions supported
by a world-class sales and service organization.

The Company's balance sheet at June 30, 2011, showed
$414.89 million in total assets, $472.34 million in total
liabilities, and a $57.45 million stockholders' deficit.

                           *    *     *

In January 2011, Moody's Investors Service upgraded Quantum
Corporation's Corporate Family and Probability of Default ratings
to B2 from B3 and revised the ratings on the senior secured debt
obligations to Ba3 from B1.  The rating outlook is positive.  The
upgrade of the CFR to B2 reflects Quantum's improved operating
performance, which stems from strong customer adoption and growth
of its higher margin branded disk-based systems and software
products, which Moody's expects to continue in FY12.

In March 2011, Standard & Poor's Ratings Services raised its
corporate credit rating on storage manufacturer Quantum Corp. to
'B' from 'B-'.  The outlook is stable.  "The upgrade reflects that
the company has posted four sequential quarters of sustained
EBITDA generation, despite ongoing declines in its core tape
business and the absence of an EMC licensing arrangement," said
Standard & Poor's credit analyst Lucy Patricola.  In addition,
debt/EBITDA has been stable for the last four quarters at about 4x
and reduced from 2009 levels, primarily reflecting application of
free cash flow to debt reduction.


QUEPASA CORP: Incurs $2.3 Million Net Loss in Second Quarter
------------------------------------------------------------
Quepasa Corporation reported a net loss of $2.30 million on $1.84
million of revenue for the three months ended June 30, 2011,
compared with a net loss of $1.88 million on $1.15 million of
revenue for the same period during the prior year.

The Company also reported a net loss of $3.79 million on $4.08
million of revenue for the six months ended June 30, 2011,
compared with a net loss of $4.54 million on $1.47 million of
revenue for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $20.64
million in total assets, $8.03 million in total liabilities and
$12.61 million total stockholders' equity.

A full-text copy of the press release announcing the financial
results is available for free at http://is.gd/9x2tbJ

                     About Quepasa Corporation

West Palm Beach, Fla.-based Quepasa Corporation (OTC BB: QPSA)
through its Web site -- http://www.Quepasa.com/-- operates as an
online social community for young Hispanics.

Quepasa reported a consolidated net loss of $6.65 million on
$6.05 million of revenue for the fiscal year ended Dec. 31, 2010,
compared with a net loss of $10.58 million on $536,000 of revenue
during the prior year.

Salberg & Company, P.A., in Boca Raton, Florida, independent
report following the 2010 results did not contain a going concern
qualification for Quepasa Corp.

As reported in the Troubled Company Reporter on March 9, 2010,
Salberg & Company, P.A. expressed substantial doubt about the
Company's ability to continue as a going concern following the
2009 results.  The independent auditors noted of the Company's
net loss and net cash used in operating activities in 2009 of
$10.58 million and $3.88 million, respectively, and a
stockholders' deficit and an accumulated deficit of $3.90 million
and $159.33 million, respectively, at Dec. 31, 2009.


RADIO ONE: Reports $101.2 Million Net Income in Second Quarter
--------------------------------------------------------------
Radio One, Inc., reported consolidated net income of $101.26
million on $97.06 million of net revenue for the three months
ended June 30, 2011, compared with consolidated net income of
$2.49 million on $75.14 million of net revenue for the same period
a year ago.

The Company also reported consolidated net income of $37.22
million on $162.07 million of net revenue for the six months ended
June 30, 2011, compared with a consolidated net loss of $2.10
million on $134.12 million of net revenues for the same period
during the prior year.

The Company's selected balance sheet data at June 30, 2011, showed
$1.52 billion in total assets, $1.06 billion in total liabilities
and $227.34 million in total stockholders' equity.

Alfred C. Liggins, III, Radio One's CEO and President stated, "The
addition of Cable Television to our segment reporting for the
first time in Q2 demonstrates the continued evolution of Radio
One: core radio revenues for Q2 now represent approximately 62% of
the Company's revenues.  Our radio performance suffered from
difficult competitive situations in Dallas and Houston, and
sluggish economic recovery in our Mid-West markets.  Our on-line
and mobile product offerings continue to develop, and our losses
at Interactive One narrowed considerably from the same period last
year.  I anticipate radio revenues in the third quarter to remain
relatively flat, and we continue to focus on controlling the cost
base, while developing other revenue streams."

A full-text copy of the press release announcing the financial
results is available for free at http://is.gd/36nWmg

                         About Radio One

Based in Washington, Radio One, Inc. (Nasdaq:  ROIAK and ROIA) --
http://www.radio-one.com/-- is a diversified media company that
primarily targets African-American and urban consumers.  The
Company is one of the nation's largest radio broadcasting
companies, currently owning 53 broadcast stations located in 16
urban markets in the United States.   Radio One operates
syndicated programming including the Russ Parr Morning Show, the
Yolanda Adams Morning Show, the Rickey Smiley Morning Show, CoCo
Brother Live, CoCo Brother's "Spirit" program, Bishop T.D. Jakes'
"Empowering Moments", the Reverend Al Sharpton Show, and the
Warren Ballentine Show.

The Company also owns a controlling interest in Reach Media, Inc.
-- http://www.blackamericaweb.com/-- owner of the Tom Joyner
Morning Show and other businesses associated with Tom Joyner.
Radio One owns Interactive One -- http://www.interactiveone.com/
-- an online platform serving the African-American community
through social content, news, information, and entertainment,
which operates a number of branded sites, including News One,
UrbanDaily, HelloBeautiful, Community Connect Inc. --
http://www.communityconnect.com/-- an online social networking
company, which operates a number of branded Web sites, including
BlackPlanet, MiGente, and Asian Avenue and an interest in TV One,
LLC -- http://www.tvoneonline.com/-- a cable/satellite network
programming primarily to African-Americans.

The Company reported a net loss of $26.62 million on $279.90
million of net revenue for the year ended Dec. 31, 2010, compared
with a net loss of $48.55 million on $272.09 million of net
revenue during the prior year.

The Company's balance sheet at March 31, 2011, showed
$1.00 billion in total assets, $844.13 million in total
liabilities, $31.26 million in redeemable non-controlling
interests, and $132.02 million in total stockholders' equity.

In its report dated Aug. 23, 2010, for the Company's fiscal 2009
financial statements, Ernst & Young LLP expressed substantial
doubt as to the Company's ability to continue as a going concern,
given certain covenant violations under the Company's loan
agreements which could have resulted in significant portions of
the Company's outstanding debt becoming callable by the Company's
lenders.  The Company noted that these violations were cured as a
part of certain refinancing transactions more fully described in
our Current Report on Form 8-K filed, Dec. 1, 2010.  Having cured
these violations, the Company's audited financial statements for
2010 have been prepared assuming that it will continue as a going
concern.

                          *     *     *

In the Dec. 10, 2010 edition of the TCR, Moody's confirmed the
Caa1 rating for Radio One, Inc.'s Corporate Family Rating and
confirmed its Caa2/LD Probability of Default Rating.  According to
Moody's, the Caa1 corporate family rating will reflect Radio One's
high pro forma debt-to-EBITDA leverage of approximately 8.0x
(incorporating Moody's standard adjustments) mitigated by improved
operating performance due to expected political advertising gains
in 4Q10 followed by double digit EBITDA gains in 1Q11 compared to
a weak 1Q10.  Despite expected growth in EBITDA and improving
debt-to-EBITDA leverage ratios, reported debt balances will remain
flat at approximately $655 million for the next 12 months due to
the anticipated funding of the TV One capital call as well as the
potential accretion of the PIK portion of the new 12.5%/15%
subordinated notes due 2016.

As reported by the Troubled Company Reporter on March 11, 2011,
Standard & Poor's Ratings Services said it raised its long-term
corporate credit rating on U.S. radio broadcaster Radio One Inc.
to 'B-' from 'CCC+'.  The rating outlook is stable.  "The 'B-'
rating and stable outlook reflect S&P's view that the
proposed transaction will improve Radio One's financial
flexibility by eliminating near-term refinancing risk and
increasing headroom under financial covenants," said Standard &
Poor's credit analyst Michael Altberg.  "Going forward, S&P
believes the company's increased ownership in TV One LLC, a
growing African American-targeted cable TV network, provides
additional diversity to Radio One's business profile and access to
a more stable revenue stream."


REAL ESTATE: Sells Investment Properties to Orlean Company
----------------------------------------------------------
Real Estate Associates Limited VII holds a general partner
interest in Real Estate Associates IV, Oakwood Apartments Ltd. -
Phase I, Oakwood Apartments Ltd. - Phase II, Birch Manor
Apartments Phase I Ltd., Birch Manor Apartments Phase II Ltd.
and Richards Park Apartments Limited Partnership.  On Aug. 8,
2011, each of the partners entered into an agreement of sale and
purchase to sell its investment property to The Orlean Company in
exchange for, among other things, (i) full satisfaction of the
non-recourse note payable due to an affiliate of the Purchaser and
(ii) the sum of one dollar.  The Company does not expect to
receive any proceeds from the sale of the property.  The Company
had no investment balance remaining at March 31, 2011.

REA IV holds 98.99% limited partnership interest in Bellair Manor
Ltd., Oak Hill Apartments, Ltd., Yorkview Estates, Ltd, Mount
Union Apartments, Ltd., and Ivywood Apartments Ltd.  On Aug. 8,
2011, each of the partners entered into an agreement of sale and
purchase to sell their investment property to The Orlean Company
in exchange for (i) full satisfaction of the non-recourse note
payable due to an affiliate of the Purchaser, (ii) the assumption
of the outstanding mortgage loan encumbering the property, and
(iii) the sum of one dollar.  The Company does not expect to
receive any proceeds from the sale of the property except for
Yorkview.  The Company had no investment balance remaining at
March 31, 2011.

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

                         http://is.gd/xXcntv

                     About Real Estate Associates

Real Estate Associates Limited VII is a limited partnership which
was formed under the laws of the State of California on May 24,
1983.  On February 1, 1984, the Partnership offered 2,600 units
consisting of 5,200 limited partnership interests and warrants to
purchase a maximum of 10,400 additional limited partnership
interests through a public offering managed by E.F. Hutton Inc.
The Partnership received $39,000,000 in subscriptions for units of
limited partnership interests (at $5,000 per unit) during the
period from March 7, 1984 to June 11, 1985.

The Partnership will be dissolved only upon the expiration of 50
complete calendar years -- December 31, 2033 -- from the date of
the formation of the Partnership or the occurrence of various
other events as specified in the Partnership agreement.  The
principal business of the Partnership is to invest, directly or
indirectly, in other limited partnerships which own or lease and
operate Federal, state and local government-assisted housing
projects.

The general partners of the Partnership are National Partnership
Investments Corp., a California Corporation, and National
Partnership Investments Associates II.  The business of the
Partnership is conducted primarily by NAPICO, a subsidiary of
Apartment Investment and Management Company, a publicly traded
real estate investment trust.

The Partnership holds limited partnership interests in 11 local
limited partnerships as of both March 31, 2010, and December 31,
2009.  The Partnership also holds a general partner interest in
Real Estate Associates IV, which, in turn, holds limited
partnership interests in nine additional Local Limited
Partnerships; therefore, the Partnership holds interests, either
directly or indirectly through REA IV, in twenty (20) Local
Limited Partnerships.  The general partner of REA IV is NAPICO.
The Local Limited Partnerships own residential low income rental
projects consisting of 1,387 apartment units at both March 31,
2010, and December 31, 2009.  The mortgage loans of these projects
are payable to or insured by various governmental agencies.

The Company's balance sheet at Sept. 30, 2010, showed
$1.62 million in total assets, $20.62 in total liabilities,
and a stockholders' deficit of $19.00 million.


REAL MEX RESTAURANTS: Delays Filing of Quarterly Report
-------------------------------------------------------
Real Mex Restaurants, Inc., informed the U.S. Securities and
Exchange Commission that it was not able complete its Quarterly
Report on Form 10-Q for the period ended June 26, 2011, on or
before the Aug. 10, 2011, prescribed due date without unreasonable
effort or expense.  The Company performs an annual goodwill
impairment test in the fourth quarter of its fiscal year.
However, given recent results of operations combined with breaches
of certain covenants under the Company's significant debt
agreements for which waivers were obtained and related obligations
of the Company to restructure its significant debt agreements, the
Company believes that the presence of these impairment indicators
necessitates testing for impairment on an interim basis as of
June 26, 2011.  According to the Company, it was not able to
complete the required analysis to determine the amount of the
goodwill impairment charge prior to the prescribed filing date.

The Company intends to file its Quarterly Report on Form 10-Q for
the period ended June 26, 2011, as promptly as practicable, and
expects that such filing will be made by the Aug. 15, 2011,
extended deadline.

                          About Real Mex

Based in Cypress, California, Real Mex Restaurants, Inc., owns and
operates restaurants, primarily through its major subsidiaries El
Torito Restaurants, Inc., Chevys Restaurants, LLC, and Acapulco
Restaurants, Inc.  The Company operated 183 restaurants as of
March 28, 2010, of which 152 were located in California and the
remainder were located in 12 other states, primarily under the
trade names El Torito Restaurant(R), Chevys Fresh Mex(R) and
Acapulco Mexican Restaurant Y Cantina(R).  In addition, the
Company franchised or licensed 34 restaurants in 12 states and two
foreign countries as of March 28, 2010.  The Company's other major
subsidiary, Real Mex Foods, Inc., provides internal production,
purchasing and distribution services for the restaurant operations
and also provides distribution services and manufactures specialty
products for sale to outside customers.

Real Mex carries a 'Caa2' Corporate Family Rating, and stable
Outlook from Moody's Investors Service.  At the end of August
2010, Moody's said the 'Caa2' CFR continues to reflect the
challenges Real Mex will face to reverse its revenue decline
primarily driven by the ongoing, albeit somewhat decelerated,
negative same store sales trend, in a very difficult operating
environment for casual dining concepts.  The rating also
incorporates the company's high financial leverage, poor interest
coverage and weak free cash flow generation.

As reported by the TCR on June 28, 2011, Standard & Poor's Ratings
Services lowered its corporate credit rating on Cypress, Calif.-
based Real Mex Restaurants Inc. to 'CCC' from 'B-'.  "The rating
actions reflect our view that operating performance will remain
weak in 2011, likely requiring the company to amend financial
covenants," said Standard & Poor's credit analyst Andy Sookram.

The Company reported a net loss of $17.78 million on $227.91
million of total revenues for the six months ended Dec. 26, 2010,
compared with a net loss of $49.59 million on $500.60 million of
total revenues for the fiscal year ended Dec. 27, 2009.

The Company's balance sheet at March 27, 2011, showed $276.64
million in total assets, $255.35 million in total liabilities and
$21.29 million in total stockholders' equity.


REDDY ICE: Incurs $1.9 Million Net Loss in Second Quarter
---------------------------------------------------------
Reddy Ice Holdings, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $1.94 million on $106.49 million of revenue for the
three months ended June 30, 2011, compared with net income of
$2.13 million on $104.16 million of revenue for the same period a
year ago.

The Company also reported a net loss of $41.04 million on $147.24
million of revenue for the six months ended June 30, 2011,
compared with a net loss of $20.46 million on $140.05 million of
revenue for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $476.62
million in total assets, $546.36 million in total liabilities and
a $69.73 million total stockholders' deficit.

"We are pleased to report that our actual revenues and EBITDA for
the first six months of 2011 grew together on a year over year
basis for the first time since 2006.  Although encouraged by
recent results, we aspire to even stronger performance and
execution against our fundamentals and growth opportunities,"
commented Chief Executive Officer and President Gilbert M.
Cassagne.  "The continued implementation of certain cost
efficiency projects provided benefits during the second quarter,
while increases in commodity prices and certain other costs and
the anticipated carryover effects of 2010 competitive activities
presented challenges."

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

                        http://is.gd/NnD5Uf

                          About Reddy Ice

Reddy Ice Holdings, Inc. -- http://www.reddyice.com/--
manufactures and distributes packaged ice in the United States.
The company serves variety of customers in 31 states and the
District of Columbia under the Reddy Ice brand name.

Reddy Ice reported a net loss of $32.50 million on $315.45 million
of revenue for the year ended Dec. 31, 2010, compared with net
income of $14.30 million on $312.33 million of revenue during the
prior year.

                           *     *     *

Reddy Ice carries 'B-' issuer credit ratings, with "negative"
outlook, from Standard & Poor's.

As reported by the Troubled Company Reporter on Aug. 17, 2010,
Moody's Investors Service lowered Reddy Ice Holdings' corporate
family and probability-of-default ratings to B3 from B2, and its
$12 million senior discount notes due 2012 to Caa2 from Caa1.
Moody's also lowered the rating on Reddy Ice Corporations' $300
million first lien senior secured notes due 2015 to B2 from B1 and
the $139 million second lien notes due 2015 to Caa2 from Caa1.
The ratings outlook remains negative.  The speculative grade
liquidity rating was affirmed at SGL-3.

The ratings downgrade was prompted by Reddy Ice's elevated
financial leverage through the first half of 2010 due to weaker
than expected operating performance and the expectation that
leverage will remain elevated.  The B3 corporate family rating
considers ongoing operational risks related to weather as well as
increasing acquisition activity.


REOSTAR ENERGY: Unsecureds to Get Pro Rata Share of 20% Over Time
-----------------------------------------------------------------
ReoStar Energy Corporation, et al., and co-proponent Russco Energy
LLC, filed with the U.S. Bankruptcy Court for the Northern
District of Texas on Aug. 2, 2011, a First Amended Disclosure
Statement in support of the Debtors' First Amended Joint Plan of
Reorganization dated Aug. 2, 2011.

The Plan Proponent, Russco, is a Texas Limited Liability Company.
Russco was formed on June 24, 2011.  Russco will provide equity
and new financing for ReoStar,

The Plan provides for the restructure of Debtors and their
emergence from bankruptcy as reorganized privately held entities.

The Plan designates 7 Classes of Claims and Interests:

Class 1   - Secured Tax Claims.
Class 2.1 - Secured Non-Tax Claims of M&M Lienholders.
Class 2.2 - Secured Non-Tax Claims of BT & MK.
Class 3.1 - Priority Unsecured Claims of ReoStar Energy.
Class 3.2 - Priority Unsecured Claims of ReoStar Operating.
Class 4.1 - General Unsecured Claims of ReoStar Energy.
Class 4.2 - General Unsecured Claims of ReoStar Operating.
Class 4.3 - General Unsecured Claim of BT & MK.
Class 5   - Subordinated and Penalty Claims.
Class 6   - Interests.
Class 7   - Subordinated Interests.

Class 1 is unimpaired and deemed to vote to accept the the Plan.

Classes 2.1, 2.2, 3.1, 3.2, 4.1, 4.3 and 6 are impaired and are
entitled to vote.

Classes 5 and 7 will not receive or retain any property under the
Plan and are presumed to vote to reject the Plan and, thus, their
votes from such Classes will not be solicited.

After payment of Secured Claims, Administrative Claims, and
Priority Claims under the priorities of the Bankruptcy Code, the
Debtors have agreed to pay some holders of Allowed General
Unsecured Claims their Pro Rata Share of (a) 20% of their Allowed
General Unsecured Claim amounts over 36 equal monthly payments
starting on the first business day following the Effective Date,
plus up to (b) 50% of the Net Proceeds, if any, from all Estate
Actions pursued by the Debtors.

The Allowed secured claim of BT & MK Energy and Commodities, LLC
(of unknown amount) will be paid over 10 years amortized at 5%.

BT & MK's Allowed unsecured claim (of unknown amount) will receive
20% of its claim paid over 2 years.

All Class 6 Interests in the Debtors will be canceled as of the
Effective Date.  New interests will be sold to the Interested
Purchasers.

The Debtors will accept the highest amount offered for the new
equity in the Reorganized Debtors to the Debtors on or before the
Confirmation Hearing, which amount will be accepted by the Debtors
for the purchase of interests in the Reorganized Debtors.

At a minimum, the Interest Purchase Price will be:

Russco Energy LLC -- 65% of the new interests in the Reorganized
Debtors for the Interest Purchase Price of $325,000 Cash on the
Effective Date and the provision of $13 million in working capital
within one year of the Effective Date;

The Rife/Bennett Group -- 35% of the new interests in the
Reorganized Debtors for the Interest Purchase Price of $175,000
Cash on the Effective Date.  The Rife/Bennett Group currently owns
a majority of ReoStar's shares.

Counsel for Russco Energy LLC may be reached at:

     Stephanie D. Curtis, Esq.
     Mark A. Castillo, Esq.
     Curtis | Castillo PC
     901 Main Street, Suite 651
     Dallas, TX 75202
     Tel: (214) 752-2222
     Fax: (214) 752-0709

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

        http://bankrupt.com/misc/reostar.1stamendedDS.pdf

BT & MK had objected to the Disclosure Statement [Docket No. 217)
filed in support of the Debtors' and co-proponent Russco's
proposed joint plan of reorganization dated June 30, 2011.

BT & MK objected on the following grounds:

  -- The proposed Plan is unconfirmable.  The Plan had capped BT &
     MK's claim at $4.5 million.  In addition, there is nothing in
     the Plan which allows or Disclosure Statement that would
     allow BT & MK to credit bid its secured claim.  The Plan also
     violates the absolute priority rule.

  -- The Disclosure Statement lacks adequate information.  There
     is no adequate financial information about the prior
     operations of either ReoStar or Russco Energy.  Creditors
     should also be provided financial information about Rife Oil
     Properties and Joe Bill Bennett, who is one of the members of
     the so-called "Rife/Bennett Group."

Counsel for BT & MK may be reached at:

     David S. Elder, Esq.
     Benjamin H. Price, Esq.
     GARDERE WYNNE SEWELL LLP
     1000 Louisiana, Suite 3400
     Houston, TX 77002-5011
     Tel: (713) 276-5750
     Fax: (713) 276-6750

                       About ReoStar Energy

Fort Worth, Texas-based ReoStar Energy Corporation is engaged in
the exploration, development and acquisition of oil and gas
properties, primarily located in the state of Texas.  The Company
owns roughly 9,000 acres of leasehold, which include 5,000 acres
of exploratory and developmental prospects as well as 4,000 acres
of enhanced oil recovery prospects.  The Company filed for Chapter
11 bankruptcy protection (Bankr. N.D. Tex. Case No. 10-47176) on
Nov. 1, 2010.  Bruce W. Akerly, Esq., and Arthur A. Stewart, Esq.,
at Cantey Hanger LLP, in Dallas, represent the Debtors in their
restructuring efforts.  Greenberg Taurig, LLP, serves as special
corporate/securities counsel.  Reostar Energy disclosed
$15,335,337 in assets and $16,391,412 in liabilities.

ReoStar Energy's bankruptcy case is jointly administered with
ReoStar Gathering, Inc., ReoStar Leasing, Inc., and ReoStar
Operating, Inc.  ReoStar Energy is the lead case.

No trustee was appointed in the Debtors' cases.  On Jan. 10, 2011,
Michael McConnell was appointed as Chapter 11 examiner in the
Debtors cases.


RIO GRANDE: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: Rio Grande Studios, LLC
        P.O. Box 91537
        Albuquerque, NM 87199-1537

Bankruptcy Case No.: 11-13639

Chapter 11 Petition Date: August 11, 2011

Court: U.S. Bankruptcy Court
       District of New Mexico (Albuquerque)

Judge: James S. Starzynski

Debtor's Counsel: Albert W. Schimmel, III, Esq.
                  SCHIMMEL LAW OFFICE
                  320 Gold Avenue SW, Suite 300A
                  P.O. Box 8
                  Albuquerque, NM 87103-0008
                  Tel: (505) 837-4400
                  Fax: (505) 837-2528
                  E-mail: spike@schimmellaw.com

Estimated Assets: $0 to $50,000

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 Michael Jacobs, managing member.


RIVER ROCK: Enters Into $9-Mil. Temporary Vehicle Access Easement
-----------------------------------------------------------------
The River Rock Entertainment Authority entered into a Grant of
Temporary Emergency Vehicle Access Easement with a group of
individuals and family trusts that will allow the Authority to
construct an emergency vehicle access road that is required
pursuant to the terms of the Memorandum of Agreement, as amended,
dated March 18, 2008, between Sonoma County and the Dry Creek
Rancheria Band of Pomo Indians.

The Authority will pay $9.0 million to the Grantors pursuant to
the Easement.  The Easement is effective until July 31, 2016.  In
a separate agreement, the Tribe has agreed to acquire from the
Grantors an approximately 310-acre parcel of land contiguous to
the Tribe's reservation that includes the land that is the subject
of the Easement.  The Authority, the Tribe and the Grantors have
agreed that the Easement Acquisition Price will be credited
towards the purchase price for the Property.  The Tribe has agreed
to pay the balance of the purchase price for the Property to the
Grantors over five years pursuant to a note from the Grantors that
requires a final payment by the Easement Expiration Date.

The Authority expects to commence construction of the emergency
vehicle access road in the near future so as to complete the
construction in 2012 within the timeframes required by the MOA.

A full-text copy of the Grant of Temporary Emergency Vehicle
Access Easement is available for free at http://is.gd/BU2Nab

                         About River Rock

Headquartered in Geyserville, California, River Rock Entertainment
Authority is a governmental instrumentality of the Dry Creek
Rancheria Band of Pomo Indians, a federally recognized Indian
tribe.  River Rock Casino is a governmental development project of
the Authority.  The Casino offers Class III slot and video poker
gaming machines, house banked table games, including Blackjack,
Three card poker, Mini-baccarat and Pai Gow poker, Poker,
featuring Texas Hold' em, comprehensive food and non-alcoholic
beverage offerings, and goods for sale on tribal land located in
Geyserville, California.

The Company's balance sheet at March 31, 2011, showed
$229.83 million in total assets, $219.38 million in total
liabilities, all current, and $10.45 million in total net assets.

                           *     *      *

As reported by the TCR on March 18, 2011, Moody's Investors
Service downgraded River Rock Entertainment Authority's Corporate
Family Rating and Probability of Default Rating to Caa1 from B2,
and the rating on the $200 million senior notes due 2011 to Caa1
from B2.  All ratings are kept under review for further possible
downgrade.  The downgrade of CFR to Caa1 reflects the significant
refinancing risk stemming from upcoming maturity of RREA's $200
million senior notes on Nov. 1, 2011 and lack of evidence that the
Authority has made meaningful progress in addressing the maturity
since its ratings were initially placed under review for possible
downgrade in October 2010.

In the Dec. 13, 2010 edition of the Troubled Company Reporter,
Standard & Poor's Ratings Services lowered its ratings on Sonoma
County, California-based River Rock Entertainment Authority; the
issuer credit rating was lowered to 'B-' from 'B+'.  At the same
time, S&P placed the ratings on CreditWatch with negative
implications.  RREA was created to operate the River Rock casino
for the Dry Creek Rancheria Band of Pomo Indians (the Tribe).

"The rating downgrade and CreditWatch listing reflect River Rock's
limited progress in addressing near-term refinancing needs
associated with its $200 million senior notes due November 2011,
as well as other debt held at the Tribe," said Standard & Poor's
credit analyst Michael Halchak.  "With less than 12 months to the
maturity on the senior notes, S&P has become increasingly
concerned around River Rock's ability to successfully address
these refinancing needs.  In addition, S&P believes River Rock
faces additional liquidity needs related to the Tribe's memorandum
of agreement with Sonoma County, associated with infrastructure
spending needs in and around the casino."


ROBB & STUCKY: Wants Settlement and Release Deal with Lender OK'd
-----------------------------------------------------------------
Robb & Stucky Limited LLLP, asks the U.S. Bankruptcy Court for the
Middle District of Florida to:

   i) dismiss its Chapter 11 case; and

  ii) approve that certain Settlement and Release Agreement
  among the Debtor, CIRS Financing LLC and CIRS Management LLC, in
  their capacity as secured lenders to the Debtor, and the
  Official Committee of Unsecured Creditors.

The Debtor relates that the sale of substantially all of its
assets to Hudson Capital Partners, LLC and HYPERAMS, LLC
concluded on June 30, 2011.

As of the date of the motion, the Debtor has sold its interests in
its intellectual property, its fleet of vehicles and tractor
trailers, and its other non-core assets and has abandoned its
leasehold mortgage and interests in its other mortgaged property.
The Debtor has also rejected all of its leasehold interests for
all of its retail locations, its warehouses, and its corporate
headquarters, and the Debtor has rejected or assumed and assigned
for value, all of its executory contracts.

The Debtor is in the process of pursuing uncollected accounts
receivable and the return of certain credit card holdbacks.  Other
than the liquidation of these remaining assets, there is little
left to do materially in the case and, as such, the Debtor is in
the process of winding down its operations.

The Debtor adds that it is unable to fully repay all of its
secured creditors, including the Collier Lenders, and likely will
not have sufficient funds to make a distribution to unsecured
priority claims, let alone pay them in full as required to confirm
a chapter 11 plan under section 1129(a)(9) of the Bankruptcy Code.

Given the Debtor's likely inability to confirm a chapter 11 plan
and its lack of funding to finance its wind down, it has engaged
in extensive, good faith negotiations with the Collier Lenders and
the Committee concerning the terms of a structured dismissal of
the case that would also resolve the Collier Dispute.

Under the agreement, the Collier Lenders will consent to the use
of their cash collateral to fund the Debtor's wind-down budget
and, in exchange, for such consent and as adequate protection for
the diminution in value of the collateral, the Collier Lenders
will receive the same release provided to Bank of America, N.A.
under the BofA settlement agreement, additional adequate
protection liens on $300,000 of unencumbered cash, and the
allowance and payment of the Collier Debt out of the proceeds of
the liquidation of the Debtor's assets subject to Collier's
existing and additional replacement liens.  Further, the agreement
provides that the Collier Lenders will forgo their request for
replacement liens on the Debtor's remaining unencumbered assets,
the proceeds of which will be used to fund distributions to
allowed administrative expense claims.

The majority of the assets of the estate are encumbered by the
prepetition liens of the Collier Lenders. The liens of the Collier
Lenders extend to the accounts receivable of the Debtor.  Under
the Agreement, the Debtor will assign its interests in such
receivables, along with any other recoverable assets that comprise
the Collier Lenders' collateral to the Collier Lenders
at such time as the Collier Lenders so request.

Finally, the agreement provides for the dismissal of the case
subject to procedures that will ensure due process for all parties
in interest while minimizing the professional fees and costs, and
the corresponding diminution in distributions payable to creditors
of the estate, and diminution in the value of the Collier Lenders'
collateral, that continue to accrue with each day the Bankruptcy
Case remains in chapter 11.

                       About Robb & Stucky

Sarasota, Florida-based Robb & Stucky Limited LLLP -- dba Robb &
Stucky; Robb & Stucky Interiors; Fine Design Interiors, a division
of Robb & Stucky; Robb & Stucky Patio; R&S Home of Fine
Decorators; and Home of Fine Design by Robb & Stucky -- is a
retailer of upscale, high-end, interior-design-driven home
furnishings in the U.S.  It filed for Chapter 11 bankruptcy
protection (Bankr. M.D. Fla. Case No. 11-02801) on Feb. 18, 2011.
Paul S. Singerman, Esq., and Jordi Guso, Esq., at Berger Singerman
PA, serve as the Debtor's bankruptcy counsel.  FTI Consulting,
Inc., is the Debtor's advisor and Kevin Regan is the Debtor's
chief restructuring officer.  Bayshore Partners, LLC, is the
Debtor's investment banker.  AlixPartners, LLP, serves as the
Debtor's communications consultants.  Epiq Bankruptcy Solutions,
LLC, serves as the Debtor's claims and notice agent.  In its
schedules, the Debtor disclosed $77,705,081 in assets and
$91,859,125 in liabilities as of the Chapter 11 filing.

Donald F. Walton, U.S. Trustee for Region 21, appointed the
Official Committee of Unsecured Creditors in the Debtor's case.
The Committee tapped Cooley LLP as its lead counsel; Broad and
Cassel as its local bankruptcy counsel; and BDO USA LLP as its
financial advisor.


ROBERTS LAND: Files List of Six Largest Unsecured Creditors
-----------------------------------------------------------
Roberts Land & Timber Investment Corp. and Union Land & Timber
Corp. have filed with the U.S. Bankruptcy Court for the Middle
District of Florida a list of its six largest unsecured creditors:

  Entity                      Nature of Claim       Claim Amount
  ------                      ---------------       ------------
Avery C. Roberts           Shareholder Loan
Post Office Box 233        to Roberts Land &
Lake butler, FL 32054      Timber                   $14,687,039.60

Avery C. Roberts           Corporate Distributions
Post Office Box 233        Owed by Roberts Land
Lake butler, FL 32054      & Timber                  $3,943,666.30

North Florida              Monies Loaned
Reforestation Services     to Roberts Land
Post Office Box 365        & Timber
Lake Butler, FL 32054                                  $554,600.00

Avery C. Roberts           Shareholder Loan
                           to Union Land &
                           Timber                      $903,585.51

Roberts Land & Timber      Loan to Union Land
Investment Corp.           & Timber                     $20,000.00

TD Bank, N.A.              Undersecured Portion
                           of Real Estate Loan
                           to Roberts Land &
                           Timber                      $129,042.68

                       About Roberts Land

Roberts Land & Timber Investment Corp. filed a Chapter 11 petition
(Bankr. M.D. Fla. Case No. 11-03851) in Jacksonville, Florida, on
May 25, 2011.  Andrew J. Decker, III, Esq., at The Decker Law
Firm, P.A., in Live Oak, Florida, serves as counsel to the Debtor.
Affiliate Union Land & Timber Corp. also sought Chapter 11
protection (Case No. 11-03853).

The Debtors are real estate holding and development companies as
well as holder of private mortgages.  The Debtors receive income
from the sale and development of real estate, management
of real estate developments, mortgage receivables, cattle grazing
leases and hunting leases.

In its schedules, Roberts Land disclosed assets of $26.7 million
with debt totaling $12.2 million, all secured.  The principal
properties are 1,500 acres in Baker County, Florida and 3,300
acres in Union County, Florida.

In its schedules, Union Land disclosed $2,376,170 in assets and
$11,945,819 in liabilities as of the petition date.


ROTECH HEALTHCARE: Incurs $1.9-Mil. Net Loss in Second Quarter
--------------------------------------------------------------
Rotech Healthcare Inc. filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, reporting a net loss
of $1.97 million on $122.43 million of net revenues for the three
months ended June 30, 2011, compared with net earnings of $3.39
million on $124.31 million of net revenues for the same period a
year ago.

The Company also reported a net loss of $4.66 million on $243.94
million of net revenues for the six months ended June 30, 2011,
compared with a net loss of $3.11 million on $247.68 million of
net revenues for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $289.17
million in total assets, $571.50 million in total liabilities,
$4.90 million in Series A convertible redeemable preferred stock
and a $287.22 million total stockholders' deficiency.

"In comparing second quarter of 2011 with that of 2010, we are
pleased to report continued improvement in profitability margins
with increases in gross profit and adjusted EBITDA as percentages
of net revenue, as well as a reduction in SG&A as a percentage of
net revenue," said Philip Carter, president and chief executive
officer.  "This was in spite of a $5.7 million decline in Medicare
reimbursements," he added.

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

                       http://is.gd/AXne5x

                      About Rotech Healthcare

Based in Orlando, Florida, Rotech Healthcare Inc. (NASDAQ: ROHI)
-- http://www.rotech.com/-- provides home medical equipment and
related products and services in the United States, with a
comprehensive offering of respiratory therapy and durable home
medical equipment and related services.  The company provides
equipment and services in 48 states through approximately 500
operating centers located primarily in non-urban markets.

The Company reported a net loss of $4.20 million on $496.42
million of net revenue for the year ended Dec. 31, 2010, compared
with a net loss of $21.08 million on $479.87 million of net
revenue during the prior year.

                           *     *     *

In October 2010, Standard & Poor's Ratings Services raised its
corporate credit rating on Rotech Healthcare to 'B-' from 'CCC'.
The outlook is positive.

In the March 22, 2011, edition of the TCR, Standard & Poor's
Ratings Services said that it raised its corporate credit rating
to 'B' from 'B-' on Orlando, Fla.-based Rotech Healthcare Inc.,
following the completion of the company's $290 million second-lien
senior secured notes offering.  "The ratings on Rotech Healthcare
Inc. reflect the company's weak business risk profile,
incorporating Rotech's exposure to Medicare reimbursement
reductions for its products and services," said Standard & Poor's
credit analyst Jesse Juliano.  The rating also reflects the
company's highly leveraged financial risk profile.

As reported by the Troubled Company Reporter on March 10, 2011,
Moody's Investors Service upgraded Rotech Healthcare Inc.'s
Corporate Family Rating and Probability of Default Rating to
B2 from Caa1 in connection with the proposed refinancing of
the company's senior subordinated notes due 2012 with a new
$290 million of senior secured notes offering due 2018.  The B2
Corporate Family Rating reflects Moody's expectation that
the company will continue its trend of improving credit metrics
through better operating performance and small strategic
acquisitions.  Moody's expects credit metrics to be relatively
weak, albeit in line with the B2 rating with debt-to-EBITDA
leverage of approximately 4.9 times at the time of the
transaction.  However Moody's also expects additional de-
leveraging over time through EBITDA expansion and the generation
of modest free cash flow.


SANUWAVE HEALTH: Incurs $3.5 Million Net Loss in Second Quarter
---------------------------------------------------------------
Sanuwave Health, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q reporting a net loss
of $3.57 million on $163,749 of revenue for the three months ended
June 30, 2011, compared with a net loss of $2.72 million on
$117,226 of revenue for the same period during the prior year.

The Company also reported a net loss of $5.75 million on $415,502
of revenue for the six months ended June 30, 2011, compared with a
net loss of $5.72 million on $260,328 of revenue for the same
period a year ago.

The Company's balance sheet at June 30, 2011, showed $10.31
million in total assets, $8.17 million in total liabilities and
$2.14 million in total stockholders' equity.

Christopher M. Cashman, President and CEO of SANUWAVE, said,
"During the second quarter of 2011 and in recent weeks we achieved
a number of important milestones in support of our goal of
commercializing dermaPACE in wound healing.  We were especially
pleased to submit the final module of our Premarket Approval (PMA)
application with the U.S. Food and Drug Administration (FDA) for
dermaPACE to treat diabetic foot ulcers.  We reported 24-week top-
line data from our double-blinded, sham-controlled, pivotal Phase
III clinical trial demonstrating that dermaPACE safely and
effectively heals diabetic foot ulcers, which represents a $2
billion market opportunity in the U.S. alone and remains a major
area of unmet medical need."

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

                        http://is.gd/CH3UL0

                       About Sanuwave Health

Alpharetta, Ga.-based SANUWAVE Health, Inc. (OTC BB: SNWV)
-- http://www.sanuwave.com/-- is an emerging regenerative
medicine company focused on the development and commercialization
of non-invasive, biological response-activating devices for the
repair and regeneration of tissue, musculoskeletal and vascular
structures.

HLB Gross Collins, P.C., in Atlanta, Ga., expressed substantial
doubt about SANUWAVE Health's ability to continue as a going
concern, following the Company's 2010 results.  The independent
auditors noted that the Company incurred a net loss of
$14.9 million and $6.2 million during the years ended Dec. 31,
2010, and 2009, respectively, and, as of those dates, had a
working capital deficiency of approximately $7.0 million and
$187,000, respectively.  In addition, the independent auditors
said that the Company is economically dependent upon future
capital contributions or financing to fund ongoing operations.


SAWMILL GATEHOUSE: Case Summary & 11 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Sawmill Gatehouse LLC
        One Sawmill Village Drive
        Snowshoe, WV 26209

Bankruptcy Case No.: 11-01449

Chapter 11 Petition Date: August 11, 2011

Court: United States Bankruptcy Court
       Northern District of West Virginia (Elkins)

Judge: Patrick M. Flatley

Debtor's Counsel: Steven L. Thomas, Esq.
                  KAY, CASTO & CHANEY
                  1600 Charleston National Plaza
                  P.O. Box 2031
                  Charleston, WV 25327
                  Tel: (304) 345-8900
                  Fax: (304) 345-8909
                  E-mail: s.thomas@kaycasto.com

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

Estimated Debts: $0 to $50,000

A list of the Company's 11 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/wvnb11-01449.pdf

The petition was signed by Samuel M. Levin, Sawmill Gatehouse, LLC
- manager.


SCOTTO RESTAURANT: Involuntary Chapter 11 Case Summary
------------------------------------------------------
Alleged Debtor: Scotto Restaurant Group, LLC
                fka Scotto Holdings, LLC
                137 Cross Center Road, Suite 234
                Denver, NC 28037

Case Number: 11-40506

Involuntary Chapter 11 Petition Date: August 11, 2011

Court: Western District of North Carolina (Shelby)

Judge: George R. Hodges

Petitioner's Counsel: Kiah T. Ford, IV, Esq.
                      PARKER, POE, ADAMS & BERNSTEIN LLP
                      401 South Tryon Street, Suite 3000
                      Three Wachovia Center
                      Charlotte, NC 28202
                      Tel: (704) 372-9000
                      E-mail: chipford@parkerpoe.com

Scotto Restaurant's petitioners:

Petitioner               Nature of Claim        Claim Amount
----------               ---------------        ------------
Lester B. High           unsec. Promissory      $754,399
2655 St. Peters Rd.      note
Pottstown, PA 19465

William Holmes           unsec. promissory      $136,229
422 Mud Ln.              note
Northampton, PA 18067

Donald L. Myers          unsec. Promissory      $957,322
10935 E. San Felipe Ave  note
Clovis, CA 93619


SEAWALK INVESTMENTS: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: Seawalk Investments, LLC
        115 First Ave. North
        Jacksonville Beach, FL 32250

Bankruptcy Case No.: 11-05969

Chapter 11 Petition Date: August 11, 2011

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

Judge: Jerry A. Funk

Debtor's Counsel: Janet H. Thurston, Esq.
                  COHEN & THURSTON, P.A.
                  1723 Blanding Blvd., Suite 102
                  Jacksonville, FL 32210
                  Tel: (904) 388-6500
                  E-mail: cohenthurston@cs.com

Scheduled Assets: $1,255,000

Scheduled Debts: $1,253,366

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

The petition was signed by James R. Stockton, III, vice president
of Buyer's Broker Realty Consultants, Inc., Debtor's managing
member.


SOUTHERN ELECTRIC: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Southern Electric Coil LLC
        5025 Columbia Avenue
        Hammond, IN 46327

Bankruptcy Case No.: 11-32840

Chapter 11 Petition Date: August 11, 2011

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

Judge: Pamela S. Hollis

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

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/ilnb11-32840.pdf

The petition was signed by Richard A. Skurka, member.


SUMMIT III: Case Summary & 17 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Summit III LLC
        One Sawmill Village Drive
        Snowshoe, WV 26209

Bankruptcy Case No.: 11-01448

Chapter 11 Petition Date: August 11, 2011

Court: United States Bankruptcy Court
       Northern District of West Virginia (Elkins)

Judge: Patrick M. Flatley

Debtor's Counsel: Steven L. Thomas, Esq.
                  KAY, CASTO & CHANEY
                  1600 Charleston National Plaza
                  P.O. Box 2031
                  Charleston, WV 25327
                  Tel: (304) 345-8900
                  Fax: (304) 345-8909
                  E-mail: s.thomas@kaycasto.com

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

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

The petition was signed by Samuel M. Levin, Summit III, LLC,
manager.

Debtor's List of 17 Largest Unsecured Creditors:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Anthony J. Skatell, III                          $1,400,000
1036 Johnnie Dodds Blvd
Ste. C
Mt. Pleasant, SC 29464

Craig Duet                                       $450,000
Attn: Brian C. Duffy
Duffy & Young LLC
96 Broan Street
Charleston, WV 29401

84 Lumber Company                                $300,000
Attn: James E. Smith
1019 Route 519, Bldg. 2
Eighty Four, PA 15330

Mr. Reg Messinger                                $200,000
Spilman Thomas & Battle PLLC
Attn: Carl H. Cather, III
PO Box 615
Morgantown, WV 26507-0615

Kenneth L. Royal                                 $150,000

Spilman Thomas & Battle                          $120,000

Snowshoe Mountain                                $120,000
Assessment

Terradon-Engineering                             $100,000
Services

Pocahontas County                                $75,000
Assessor

Sawmill Village HOA                              $50,000

CMI                                              $35,000

Samuel M. Levin                                  $20,000

Balzer and Associates                            $10,000

The Homestead POA                                $5,000

Pocahontas County                                $5,000
PDS Sewer Utility

Cheat Mountain Water                             $2,500
Company

Allegheny Power                                  $1,000
(Monpower)


SUNDERLAGE RESOURCE: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Sunderlage Resource Group Inc.
        2380 Esplanada Dr. #203
        Algonquin, IL 60102

Bankruptcy Case No.: 11-83574

Chapter 11 Petition Date: August 12, 2011

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

Judge: Manuel Barbosa

Debtor's Counsel: Bradley T. Koch, Esq.
                  HOLMSTROM & KENNEDY P.C.
                  P.O. Box 589
                  Rockford, IL 61105
                  Tel: (815) 962-7071
                  Fax: (815) 962-7181
                  E-mail: bkoch@holmstromlaw.com

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

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ilnb11-83574.pdf

The petition was signed by Tracy L. Sunderlage, president.

Affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
PBT Adminstration, LLC
Tracy L. Sunderlage                    11-83571   08/12/11


SUNNYVALE BUSINESS: Case Summary & 9 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Sunnyvale Business Square, LLC
          dba Lakeview Village At Val Vista Lakes
        P.O. Box 370008
        Las Vegas, NV 89137

Bankruptcy Case No.: 11-23121

Chapter 11 Petition Date: August 11, 2011

Court: U.S. Bankruptcy Court
       District of Arizona (Phoenix)

Judge: James M. Marlar

Debtor's Counsel: John F. Battaile, Esq.
                  ALTFELD & BATTAILE P.C.
                  250 N. Meyer Avenue
                  Tucson, AZ 85701
                  Tel: (520) 622-7733
                  Fax: (520) 622-7967
                  E-mail: jfbattaile@abazlaw.com

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

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

The petition was signed by Richard J. Orosel, manager of Orosel
Enterprises LLC, manager.

Debtor's List of Nine Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Metro Fire Equipment, Inc.         Trade Debt              $13,198
63 S. Hamilton Place
Gilbert, AZ 85233

King Insulation                    Trade Debt              $11,000
10810 N. Tatum Boulevard, #102-329
Phoenix, AZ 85029

Team Framing / Drywall             Trade Debt              $11,000
428 W. Thunderbird, #702
Phoenix, AZ 85022

Zenelectric                        Trade Debt              $10,000

MVP Tello Development              Trade Debt              $10,000

Sunset Acoustics, Inc.             Trade Debt               $8,800

Jade Builders                      Trade Debt               $7,850

AZ Washroom Partitions             Trade Debt               $6,750

Team Framing / Drywall             Trade Debt               $5,490


TEXAS ROADRUNNER: Case Summary & 19 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Texas Roadrunner, LLC
        615 Peden Street
        Houston, TX 77006

Bankruptcy Case No.: 11-22784

Chapter 11 Petition Date: August 11, 2011

Court: U.S. Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Bruce A. Markell

Debtor's Counsel: David J. Winterton, Esq.
                  DAVID J. WINTERTON & ASSOC., LTD.
                  211 N. Buffalo Drive, #A
                  Las Vegas, NV 89145
                  Tel: (702) 363-0317
                  E-mail: david@davidwinterton.com

Scheduled Assets: $1,100,000

Scheduled Debts: $656,841

A list of the Company's 19 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/nvb11-22784.pdf

The petition was signed by Daniel D. Maddox, managing member.


TOWN & RANCH: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Town & Ranch, Inc.
        505 Don Gaspar Avenue
        Santa Fe, NM 87501

Bankruptcy Case No.: 11-13647

Chapter 11 Petition Date: August 12, 2011

Court: U.S. Bankruptcy Court
       District of New Mexico (Albuquerque)

Judge: James S. Starzynski

Debtor's Counsel: Thomas D. Walker, Esq.
                  THUMA & WALKER, PC
                  500 Marquette Avenue NW, Suite 650
                  Albuquerque, NM 87102-5309
                  Tel: (505) 766-9272
                  E-mail: twalker@thumawalker.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/nmb11-13647.pdf

The petition was signed by Bill W. McCoy, III, operations manager.


VITAMINSPICE: Creditors Want Management Removed
-----------------------------------------------
Creditors who placed VitaminSpice in Chapter 11 bankruptcy are
asking the Bankruptcy Court to oust management and place the
company in the hands of a trustee.

The Court will consider the request at a hearing on Sept. 6.

Five creditors filed an involuntary Chapter 11 petition (Bankr.
E.D. Pa. Case No. 16200) against Wayne, Pennsylvania-based
VitaminSpice aka Qualsec on Aug. 5, 2011.  The creditors, owed
roughly $414,000 in the aggregate,  are: John Robison in
Philadelphia, Pennsylvania; IBT South Florida, LLC, in Fort
Lauderdale, Florida; Learned J. Hand in Chapel Hill, North
Carolina; and Jehu Hand in Dana Point, California; and Esthetics
World in Cheyenne, Wyoming.  Judge Magdeline D. Coleman presides
over the case.  Peter Edward Sheridan, Esq. --
sheridan.pete@gmail.com -- in Philadelphia, Pennsylvania,
represents the petitioning creditors.


WILSON FAMILY: Case Summary & 18 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Wilson Family Communities, Inc.
        110 Wild Basin Road South, Suite 300
        Austin, TX 78746

Bankruptcy Case No.: 11-12014

Chapter 11 Petition Date: August 12, 2011

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

Judge: H. Christopher Mott

Debtor's Counsel: Stephen A. Roberts, Esq.
                  STRASBURGER & PRICE, LLP
                  600 Congress Avenue, Suite 1600
                  Austin, TX 78701
                  Tel: (512) 499-3600
                  Fax: (512) 499-3660
                  E-mail: stephen.roberts@strasburger.com

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

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

A list of the Company's 18 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/txwb11-12014.pdf

The petition was signed by William E. Weber, president.

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Green Builders, Inc.                  11-12013            08/12/11


WOLFGANG DAIRY: Case Summary & 11 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Wolfgang Dairy, LLC
        15908 San Road
        Reedsville, WI 54230

Bankruptcy Case No.: 11-32549

Chapter 11 Petition Date: August 12, 2011

Court: United States Bankruptcy Court
       Eastern District of Wisconsin (Milwaukee)

Debtor's Counsel: Paul G. Swanson, Esq.
                  STEINHILBER, SWANSON, MARES, MARONE & MCDERMOTT
                  107 Church Avenue
                  P.O. Box 617
                  Oshkosh, WI 54903-0617
                  Tel: (920) 426-0456
                  E-mail: pswanson@oshkoshlawyers.com

Scheduled Assets: $3,480,650

Scheduled Debts: $6,695,500

A list of the Company's 11 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/wieb11-32549.pdf

The petition was signed by Thomas L. Braun, managing member.

Affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Hamp Haven Farms                       11-32547   08/12/11


* Oaktree Capital Activates Distressed-Debt Fund
------------------------------------------------
Dow Jones' DBR Small Cap reports that Oaktree Capital Management,
which recently filed for an initial public offering, has activated
a $2.6 billion supplementary fund to take advantage of distressed
debt opportunities amid the market turmoil, said people familiar
with the situation.


* Large Companies With Insolvent Balance Sheets
-----------------------------------------------



                                           Total
                                          Share-      Total
                                Total   Holders'    Working
                               Assets     Equity    Capital
  Company         Ticker        ($MM)      ($MM)      ($MM)
  -------         ------       ------   --------    -------
ABSOLUTE SOFTWRE  ABT CN        116.3      (12.0)     (12.6)
ACCO BRANDS CORP  ABD US      1,135.8      (28.3)     339.3
ALASKA COMM SYS   ALSK US       615.6      (37.7)      20.4
AMC NETWORKS-A    AMCX US     2,110.5   (1,099.4)     514.7
AMER AXLE & MFG   AXL US      2,195.4     (357.9)      50.1
AMERISTAR CASINO  ASCA US     2,067.1     (121.9)     (40.8)
AMR CORP          AMR US     25,787.0   (4,509.0)  (1,769.0)
ANOORAQ RESOURCE  ARQ SJ      1,024.0      (77.0)      20.9
AUTOZONE INC      AZO US      5,884.9   (1,119.5)    (655.3)
BLUEKNIGHT ENERG  BKEP US       327.4      (45.5)     (90.0)
BOSTON PIZZA R-U  BPF-U CN      146.1     (101.0)       1.3
CABLEVISION SY-A  CVC US      6,975.1   (5,439.8)    (703.4)
CARBONITE INC     CARB US        42.6      (11.4)     (18.2)
CC MEDIA-A        CCMO US    16,882.1   (7,270.0)   1,501.0
CENTENNIAL COMM   CYCL US     1,480.9     (925.9)     (52.1)
CENVEO INC        CVO US      1,410.8     (330.1)     223.4
CHEFS WAREHOUSE   CHEF US        81.3      (47.8)      12.9
CHENIERE ENERGY   CQP US      1,726.6     (559.0)      22.7
CHENIERE ENERGY   LNG US      2,619.8     (430.3)    (103.2)
CHOICE HOTELS     CHH US        441.3      (27.9)       6.5
CINCINNATI BELL   CBB US      2,658.5     (633.6)      30.5
CLOROX CO         CLX US      4,163.0      (86.0)     (86.0)
DENNY'S CORP      DENN US       286.7      (99.5)     (39.9)
DIRECTV-A         DTV US     19,177.0   (1,399.0)   1,270.0
DISH NETWORK-A    DISH US    12,827.7      (92.6)   2,164.2
DISH NETWORK-A    EOT GR     12,827.7      (92.6)   2,164.2
DOMINO'S PIZZA    DPZ US        487.0   (1,171.4)     167.9
DUN & BRADSTREET  DNB US      1,767.1     (567.8)    (483.7)
ECOSYNTHETIX INC  ECO CN         45.2     (346.7)      32.2
EXELIXIS INC      EXEL US       454.2      (81.8)      90.2
FRANCESCAS HOLDI  FRAN US        59.1      (55.5)      13.2
FREESCALE SEMICO  FSL US      4,583.0   (4,401.0)   1,329.0
GENCORP INC       GY US         987.3     (161.1)      94.3
GLG PARTNERS INC  GLG US        400.0     (285.6)     156.9
GLG PARTNERS-UTS  GLG/U US      400.0     (285.6)     156.9
GRAHAM PACKAGING  GRM US      2,947.5     (520.8)     298.5
HANDY & HARMAN L  HNH US        391.4       (6.5)      18.5
HCA HOLDINGS INC  HCA US     23,877.0   (7,534.0)   2,613.0
HOVNANIAN ENT-B   HOVVB US    1,736.6     (349.8)   1,071.5
HUGHES TELEMATIC  HUTC US       100.6      (94.9)     (28.3)
INCYTE CORP       INCY US       416.7     (136.3)     281.3
IPCS INC          IPCS US       559.2      (33.0)      72.1
ISTA PHARMACEUTI  ISTA US       135.7      (66.5)      10.4
JUST ENERGY GROU  JE CN       1,471.5     (208.2)    (299.7)
LIN TV CORP-CL A  TVL US        797.5     (119.9)      47.4
LIZ CLAIBORNE     LIZ US      1,247.3     (211.1)     (52.7)
LORILLARD INC     LO US       2,498.0     (831.0)     904.0
MAINSTREET EQUIT  MEQ CN        475.2      (10.5)       -
MEAD JOHNSON      MJN US      2,526.1     (184.5)     652.4
MERITOR INC       MTOR US     2,838.0     (963.0)     226.0
MOODY'S CORP      MCO US      2,744.6      (16.6)     691.1
MORGANS HOTEL GR  MHGC US       604.4      (51.3)     112.0
NATIONAL CINEMED  NCMI US       817.6     (329.8)      62.2
NAVISTAR INTL     NAV US      9,966.0     (764.0)   1,819.0
NEXSTAR BROADC-A  NXST US       558.0     (183.4)      35.4
NPS PHARM INC     NPSP US       253.3      (27.3)     201.5
NYMOX PHARMACEUT  NYMX US        10.0       (3.3)       6.8
OTELCO INC-IDS    OTT US        317.0       (8.6)      21.8
OTELCO INC-IDS    OTT-U CN      317.0       (8.6)      21.8
PALM INC          PALM US     1,007.2       (6.2)     141.7
PDL BIOPHARMA IN  PDLI US       284.3     (293.5)      (4.6)
PLAYBOY ENTERP-A  PLA/A US      165.8      (54.4)     (16.9)
PLAYBOY ENTERP-B  PLA US        165.8      (54.4)     (16.9)
PRIMEDIA INC      PRM US        208.0      (91.7)       3.6
PROTECTION ONE    PONE US       562.9      (61.8)      (7.6)
PURE INDUSTRIAL   AAR-U CN      277.1       (8.6)       -
QUALITY DISTRIBU  QLTY US       279.4     (113.4)      47.2
QWEST COMMUNICAT  Q US       16,849.0   (1,560.0)  (2,828.0)
RAPTOR PHARMACEU  RPTP US        20.5      (14.6)     (21.4)
REGAL ENTERTAI-A  RGC US      2,367.9     (538.3)     (72.9)
RENAISSANCE LEA   RLRN US        57.0      (28.2)     (31.4)
REVLON INC-A      REV US      1,100.0     (677.5)     144.6
RSC HOLDINGS INC  RRR US      2,949.6      (59.2)    (205.0)
RURAL/METRO CORP  RURL US       303.7      (92.1)      72.4
SALLY BEAUTY HOL  SBH US      1,725.5     (260.7)     429.3
SINCLAIR BROAD-A  SBGI US     1,497.3     (135.3)      69.0
SINCLAIR BROAD-A  SBTA GR     1,497.3     (135.3)      69.0
SKULLCANDY INC    SKUL US        80.4      (17.7)      38.7
SMART TECHNOL-A   SMT US        574.8      (17.3)     194.3
SMART TECHNOL-A   SMA CN        574.8      (17.3)     194.3
SUN COMMUNITIES   SUI US      1,322.8      (65.4)       -
TAUBMAN CENTERS   TCO US      2,495.4     (426.8)       -
THERAVANCE        THRX US       303.1      (37.5)     253.4
TOWN SPORTS INTE  CLUB US       450.6       (4.3)     (35.4)
UNISYS CORP       UIS US      2,642.9     (661.8)     374.7
VANGUARD HEALTH   VHS US      4,162.2     (186.6)     356.5
VECTOR GROUP LTD  VGR US        941.2      (50.1)     257.6
VERISIGN INC      VRSN US     1,795.6       (4.2)     873.4
VERISK ANALYTI-A  VRSK US     1,408.1     (144.4)    (216.1)
VIRGIN MOBILE-A   VM US         307.4     (244.2)    (138.3)
VONAGE HOLDINGS   VG US         235.9      (75.0)     (65.6)
WARNER MUSIC GRO  WMG US      3,617.0     (254.0)    (650.0)
WEIGHT WATCHERS   WTW US      1,104.5     (542.4)    (274.4)
WESTMORELAND COA  WLB US        772.4     (180.2)      (8.6)
WORLD COLOR PRES  WC CN       2,641.5   (1,735.9)     479.2
WORLD COLOR PRES  WCPSF US    2,641.5   (1,735.9)     479.2
WORLD COLOR PRES  WC/U CN     2,641.5   (1,735.9)     479.2



                           *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers"
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
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than a balance sheet solvency test.

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related conferences are encouraged.  Send announcements to
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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
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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.
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Copyright 2011.  All rights reserved.  ISSN: 1520-9474.

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                  *** End of Transmission ***