TCR_Public/110818.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

            Thursday, August 18, 2011, Vol. 15, No. 228

                            Headlines

ACCURIDE CORP: Court Rejects Unit's Bid to Dismiss Reynolds' Claim
AFFINITY GROUP: Reports $5.2 Million Net Income in Second Quarter
AGE REFINING: Committee Wants Chase Claim Fixed at $39 Million
AGY HOLDING: Incurs $6.2 Million Net Loss in Second Quarter
ALLIED DEFENSE: Has $44.4 Million of Net Assets in Liquidation

AMERICA CAPITAL: Fitch Affirms 'B+' LT Issuer Default Rating
AMERICA WEST: Brian Rodriguez Resigns as Director
AMERITOX LTD: Moody's Withdraws 'B2' Corporate Family Rating
AMT LLC: Proposes $14.1-Mil. of DIP Financing from Omega
ANIXTER INT'L: Moody's Says Sale Has No Impact on 'Ba2' Corporate

ARAPAHOE LAND: Asks Court to Dismiss Chapter 11 Case
ARCHBROOK LAGUNA: Gordon Brothers Group Acquires Assets
ARCHBROOK LAGUNA: Committee Taps Loughlin as Financial Advisor
ARCHBROOK LAGUNA: Committee Proposes Cooley LLP as Counsel
ARCHBROOK LAGUNA: Court Approves Akin Gump as Bankruptcy Counsel

ARCHBROOK LAGUNA: Court Approves Hawkwood Consulting as CRO
ASARCO LLC: 5th Circuit Backs Payment of Auction Costs
ATCON PLYWOOD: Miramichi Mill Could be Sold at Last
BARBETTA LLC: Court Approves David Bradley as Accountant
BARBETTA LLC: Court Approves Subbs & Perdue as Counsel

BARBETTA LLC: Court Approves Charles Hester as Member-Manager
BARNES BAY: Court Rejects Request to Reclassify Customers' Claim
BAYVIEW HOLDINGS: Loses Key Asset, To Seek Dismissal Sept. 8
BERNARD L. MADOFF: Trustee Wins Ruling on Calculating Losses
BIOFUEL ENERGY: Incurs $8.3 Million Net Loss in Second Quarter

BIOJECT MEDICAL: Files Form 10-Q, Posts $273,000 Income in Q2
BIOLIFE SOLUTIONS: Incurs $436,000 Net Loss in Second Quarter
BIONOL CLEARFIELD: Getty Petroleum Ordered to Pay $230 Million
BORDERS GROUP: Court OKs Revised HarrisPort Termination Pact
BORDERS GROUP: Wins Approval of A/R, et al., Termination Pacts

BORDERS GROUP: Seattle's Best License Pact Rejection Effective
BUFFETS HOLDINGS: Court Rules on Dispute With Franchise Tax Board
CAMP COOLEY: Taps Assiter & Associates to Auction Personal Assets
CATASYS INC: Reports $2.9 Million Net Income in Second Quarter
CDC PROPERTIES: Graham & Dunn Fees Guaranteed by Prium

CENTRO NP: Fitch Puts 'CCC' Credit Ratings on Watch Evolving
CHRISTIAN BROTHERS': Court Approves Sperduto as Accountant
CIRCUIT CITY: Lawyers, Consumer Groups File Brief in 4th Cir. Case
CITIZENS DEVELOPMENT: Cash Access Requires Sept. Plan Confirmation
CITIZENS DEVELOPMENT: Plan Outline Hearing Continued Until Oct. 6

COMPOSITE TECHNOLOGY: Completes Disposition of All Assets
COMPREHENSIVE CARE: Incurs $3.97-Mil. Net Loss in Second Quarter
COMSTOCK MINING: Files Form 10-Q, Incurs $4.7-Mil. Q2 Net Loss
CONGRESSIONAL HOTEL: Legacy Hotel in Chapter 11
CONGRESSIONAL HOTEL: Case Summary & 20 Largest Unsecured Creditors

CONTESSA PREMIUM: Exclusive Plan Filing Period Extended to Oct. 26
CONTESSA PREMIUM: Time to Assume Office Lease Extended to Oct. 31
CORNERSTONE BANCSHARES: Files Form 10-Q; Posts $141,000 Q2 Income
COUNTRYWIDE FINANCIAL: BofA Considered Placing Unit in Bankruptcy
COVINA PALMS: Files for Chapter 11 Bankruptcy California

DEEP DOWN: Incurs $46,000 Net Loss in Second Quarter
DISPOSAL SERVICES: Moody's Says Price Discipline May Be Eroding
EAGLES CREST: Bank of the West Wants Changes to Plan
EAST COAST: Combined Hearing on Reorganization Plan on Oct. 17
EDISON MISSION: Posts $32 Million Net Loss in Q1 Ended June 30

EMPIRE RESORTS: Reports $650,000 Net Income in Second Quarter
EOS PREFERRED: Reports $230,000 Net Income in Second Quarter
EVERGREEN ENERGY: Reports $6.3-Mil. Net Income in Second Quarter
EVERGREEN SOLAR: Has Interim OK to Use 2015 Noteholders' Cash
EVERGREEN SOLAR: Court Okays Epiq as Claims & Noticing Agent

EVERGREEN SOLAR: Seeks Approval to Hold November Auction
EVERGREEN SOLAR: Delays Filing of Quarterly Report on Form 10-Q
FERTINITRO FINANCE: Fitch Keeps Junk Rating on $250 Million Bonds
FURNITURE DEALS: Judge Signs Receivership Notice
FUSION TELECOMMUNICATIONS: Borrows $130,000 from Marvin Rosen

GELT PROPERTIES: Can File Schedules & Statements Until Aug. 22
GLOBAL AVIATION: Moody's Cuts Corp. Family Rating to 'Caa3'
GRANDE HOLDINGS: Hong Kong Case Recognized by U.S. Court
GRAYMARK HEALTHCARE: Files Form 10-Q, Incurs $600,000 Loss in Q2
GREATER SALEM: To Forfeit Two Properties Under Reorganization Plan

HARRY STONE: Reformation Action Barred by Statute of Limitations
HELLER EHRMAN: Covington, Katz Get OK to Settle Suits for $8.5MM
HELLER ERHMAN: To Pay Former Associates, Staff, NLJ Says
HENNIGES AUTOMOTIVE: Moody's Withdraws 'B2' Corp. Family Rating
IMPERIAL INDUSTRIES: Incurs $270,000 Net Loss in Second Quarter

INDIANAPOLIS DOWNS: Lender Accuses Firm for 'Slow Playing'
INNKEEPERS USA: Cerberus Has Cold Feet, Puts Off Sale Closing
ITRON INC: Moody's Withdraws 'Ba1' Senior Secured Ratings
JOON ASSOCIATES: Trocadero Theatre Files for Bankruptcy
KNOLOGY INC: Moody's Says Ratings Unaffected by Share Repurchase

LEHMAN BROTHERS: Gets Court OK $5.3-Bil. Mgt. Deal With WCAS-FS
LEHMAN BROTHERS: Plan Faces Opposition Over Lack Of Information
LEHMAN BROTHERS: Appeals 2008 Order on Barclays Windfall
LEHMAN BROTHERS: Dismissal Plea of Suit vs. LBHI, Jones Pending
LEHMAN BROTHERS: Jury Trial to Bethany Loan Guarantors Denied

LEHMAN BROTHERS: HK Entities Support Pay-Out Plan
LIFECARE HOLDINGS: Incurs $4.6 Million Net Loss in Q2
LITHIUM TECHNOLOGY: Incurs $7.8-Mil. Net Loss in Second Quarter
LOS ANGELES DODGERS: Ticket Holders Want Official Committee
LOS ANGELES DODGERS: Merchandiser Can't Compel Decision on Pact

LOUISVILLE ORCHESTRA: Bankruptcy Judge Approves Restructuring Plan
LYMAN LUMBER: Committee Taps Alliance Management as Consultant
MAGNETEK INC: Won't Make Benefit Pension Plan Contributions
MARCO POLO SEATRADE: Gets 44 Days to File Schedules & Statements
MORGAN'S FOODS: Amends GE Forbearance to Include Waiver Agreement

MORGANS HOTEL: Accommodations Acquisition Holds 5.6% Equity Stake
MOUNTAIN PROVINCE: Incurs C$2.4-Mil. Net Loss in Second Quarter
NETAL INC: Faces Dismissal or Chapter 7 Conversion
NEW STREAM: Has Until Sept. 7 to File Exclusively Propose Plan
NEW STREAM: Court OKs Houlihan as Committee's Investment Banker

NEW STREAM: $94MM Settlement Payment with NSI Receiver Approved
NNN 2003: Incurs $125,000 Consolidated Net Loss in Q2
NORTEL NETWORKS: Disability Participants Committee Formed
NORTEL NETWORKS: Retired Staff Committee Formed
OTERO COUNTY HOSPITAL: Files for Chapter 11 Due to QHR Woes

PATRIOT NATIONAL: Incurs $7.2 Million Net Loss in Second Quarter
QUANTUM FUEL: Files Form S-3; Registers $1.2-Mil. Common Shares
RENAISSANT LAFAYETTE: Wants Case Dismissal, Carve Out Distribution
ROYAL HOSPITALY: Taps BST Valuation as Accountant
SAMANTA ROY: Court Dismisses Chapter 11 Bankruptcy Cases

SEVERN BANCORP: Files Form 10-Q, Incurs $846,000 Net Loss in Q2
SHERIDAN GROUP: Incurs $3.8 Million Net Loss in Second Quarter
SOUTHWEST CONTRACT: National Commercial Accepts Sealed Bids
SPANISH BROADCASTING: Reports $8.4MM Net Income in Second Quarter
STAR ACQUISITIONS: Great American Hosts Live Auction on Aug. 25

STEAK N SHAKE: Moody's Assigns 'B1' CFR; Outlook Stable
STELLAR GT: U.S. Trustee Won't Appoint Unsecured Creditors Panel
SUMMER VIEW SHERMAN: Case Summary & 3 Largest Unsecured Creditors
SUMMER VIEW SHERMAN: Files for Chapter 11 in California
THE RENAISSANCE: Supreme Court Orders Receivership

TRADE UNION: U.S. Trustee Forms 3-Members Creditor's Panel
TRIBUNE CO: Parties Resolve Plan Exhibit Disputes
TRIBUNE CO: Wins Approval of Wage Class Action Settlement
TRIBUNE CO: Removal Period Extended Until Oct. 31
UPD GLOBAL: Case Summary & 17 Largest Unsecured Creditors

VITRO SAB: To Control Restructuring Vote After Judge Rules on Debt
VITRO SAB: ACI Intends to Lay Off 46 Employees at Memphis Office
VITRO SAB: Court OKs Blackstone as Committee's Financial Advisor
WASHINGTON MUTUAL: Plan Closing Arguments on Aug. 24; Briefs Filed
WILLIAMS, LOVE: Case Summary & 20 Largest Unsecured Creditors

WOODS CANYON: Files Schedules of Assets & Liabilities

* U.S. Commercial Bankruptcy Filings Fall 11.6 Percent During July
* U.S. Regulator Mulls Limiting Outside Auditors' Terms

* Simon Schmidt Joins Chadbourne & Parke in Dubai
* FTI Appoints New Heads to Corp. Finance Restructuring Practice
* Steven Nigro Joins Allegiance Capital's New York Office

* Recent Small-Dollar & Individual Chapter 11 Filings


                            *********


ACCURIDE CORP: Court Rejects Unit's Bid to Dismiss Reynolds' Claim
------------------------------------------------------------------
District Judge James T. Moody denied Gunite Corporation's motion
for summary judgment dismissing claims asserted by Diana Reynolds
in the lawsuit styled, Diana Reynolds, v. Gunite Corporation, No.
3:08 CV 301 (N.D. Ind.).  The defendant argues that the
plaintiff's claims should be dismissed because they were
discharged during the defendant's Chapter 11 bankruptcy
proceedings.  Judge Moody said the defendant's brief in support of
its motion for summary judgment, as well as its reply brief, cite
to provisions of Chapter 7 of the Bankruptcy Code in an attempt to
justify summary judgment in its favor.  Corporate entities do not
receive a bankruptcy discharge under Chapter 7 of the Bankruptcy
Code.  The provisions cited by the defendant are inapplicable to
its own bankruptcy proceedings and therefore to its motion for
summary judgment.

A copy of Judge Moody's Aug. 12, 2011 Opinion and Order is
available at http://is.gd/BxGlgtfrom Leagle.com.

Gunite is an affiliate of Accuride Corporation.

                      About Accuride Corp.

Evansville, Indiana-based Accuride Corporation --
http://www.accuridecorp.com/-- manufactures and supplies
commercial vehicle components in North America.  Accuride's
products include commercial vehicle wheels, wheel-end components
and assemblies, truck body and chassis parts, seating assemblies
and other commercial vehicle components.  Accuride's products are
marketed under its brand names, which include Accuride, Gunite,
Imperial, Bostrom, Fabco, Brillion, and Highway Original.

The Company and its affiliates filed for Chapter 11 protection
(Bankr. D. Del. Lead Case No. 09-13449) on Oct. 8, 2009.  Latham &
Watkins LLP and Young Conaway Stargatt & Taylor LLP served as
bankruptcy counsel.  The Garden City Group Inc. served as claims
agent.  The Official Committee of Unsecured Creditors tapped
attorneys at Reed Smith LLP and Irell & Manella LLP as counsel.

The Debtors disclosed $682,263,000 in total assets and
$847,020,000 in total liabilities as of Aug. 31, 2009.

The Bankruptcy Court confirmed the Debtor's reorganization plan in
February 2010.  Accuride emerged from bankruptcy on February 26,
2010.

                          *     *     *

As reported by the Troubled Company Reporter on Aug. 3, 2010,
Standard & Poor's Ratings Services assigned its 'B' corporate
credit rating and stable outlook to Accuride Corp.  Upon emergence
from Chapter 11, the Company reduced debt by about one-third.  S&P
said the refinancing does not significantly affect total debt but
improves liquidity by extending debt maturities and adding
borrowing availability, as the Company currently has no revolving
credit facility.

The TCR on July 22, 2010, reported that Moody's Investors Service
assigned Corporate Family and Probability of Default ratings of B2
to Accuride.  The B2 Corporate Family Rating reflects Accuride's
deleveraged capital structure and the impact of restructuring
actions achieved during and prior to the company's tenor in
bankruptcy protection.


AFFINITY GROUP: Reports $5.2 Million Net Income in Second Quarter
-----------------------------------------------------------------
Good Sam Enterprises, LLC, fka Affinity Group, LLC, filed with the
U.S. Securities and Exchange Commission its quarterly report on
Form 10-Q reporting net income of $5.19 million on $129.09 million
of revenue for the three months ended June 30, 2011, compared with
net income of $1.72 million on $131.08 million of revenue for the
same period a year ago.

The Company also reported net income of $2.59 million on $233.65
million of revenue for the six months ended June 30, 2011,
compared with a net loss of $8 million on $237.01 million of
revenue for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed
$232.09 million in total assets, $481.67 million in total
liabilities, and a $249.57 million total stockholders' deficit.

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

                        http://is.gd/OHVIup

                        About Affinity Group

Ventura, Calif.-based Affinity Group Holding, Inc. is a holding
company and the direct parent of Affinity Group, Inc.  The Company
is an indirect wholly-owned subsidiary of AGI Holding Corp
("AGHC"), a privately-owned corporation.  The Company is a member-
based direct marketing organization targeting North American
recreational vehicle ("RV") owners and outdoor enthusiasts.  The
Company operates through three principal lines of business,
consisting of (i) club memberships and related products and
services, (ii) subscription magazines and other publications
including directories, and (iii) specialty merchandise sold
primarily through its 78 Camping World retail stores, mail order
catalogs and the Internet.

                           *     *     *

Affinity Group Inc. carries 'B3' long term corporate family and
probability of default ratings, with 'stable' outlook, from
Moody's Investors Service.

As reported in the Troubled Company Reporter on November 9, 2010,
Standard & Poor's Ratings Services assigned Affinity Group Inc.'s
proposed $325 million senior secured notes due 2016 its
preliminary 'B-' issue-level rating.  Following the close of the
proposed transaction, S&P expects to assign a 'B-' corporate
credit rating to Affinity Group Inc., and withdraw S&P's current
'D' corporate credit rating on Affinity Group Holding Inc.  A
portion of the proceeds of the new notes will be used, in
conjunction with cash contributions from Holding's parent, to
repay in full $88 million of senior notes that are currently
outstanding at Holding.

S&P said the expected 'B-'corporate credit rating on Affinity
Group reflects S&P's expectation that, following the proposed
refinancing transaction, adjusted debt leverage will be reduced by
about 1x, the company will not have any meaningful near-term debt
maturities, and the company will generate some discretionary cash
flow (albeit minimal).  Still, credit measures will remain
relatively weak, as adjusted debt leverage will remain above 6.0x
(S&P's operating lease adjustment adds about a turn to leverage),
and S&P expects interest coverage to remain in the low- to mid-
1.0x area over the intermediate term.


AGE REFINING: Committee Wants Chase Claim Fixed at $39 Million
--------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
case of Age Refining, Inc., asks the U.S. Bankruptcy Court for the
Western District of Texas to determine value the secured claim of
Chase Capital Corporation.

The Committee asks that the Court determine that the secured value
of the Chase claim is fixed at $39 million, subject to further
adjustment pending disposition of remaining unliquidated Chase
collateral.  The Committee adds that the Chase Claim secured value
must be adjusted to reflect the net benefit of collection.

Chase asserts a claim of $40,212,084, for money loaned, as a
secured claim with any unsecured amount.

Following refinery sale, Chase was paid $36 Million, applied
against Chase claim, resulting in a net remaining balance on the
Chase claim of $4,212,084, plus any interest, cost, fees and
expenses.

The Committee notes that the refinery sale proceeds amounted to
$41 million, $36 million of which was distributed to Chase.  The
refinery sale also included assets not encumbered by Chase
prepetition lien or the Chase Claim, consisting of:

   i. Elmendorf Tank Farm;

  ii. Rolling stock;

iii. Adjacent real property The Committee believes the value of
      the Unencumbered Refinery Sale Assets to be at least
      $2 million thereby reducing the remaining pot of Refinery
      sale proceeds subject to the Chase Claim to $39 million, and
      maximizing Chase's Claim to the Refinery sale proceeds at
      $39 million - of which $3 million remains unpaid.

According to the Committee, Chase also asserts a security interest
in working capital as a result of a second lien granted to Chase,
securing its prepetition indebtedness through postpetition
DIP financing order.  Chase's contention is that all cash
remaining following distribution to Chase of remaining Refinery
sale proceeds ($9.76 million less $5.0 million equals
$4.76 million) constitutes the Debtor's working capital' subject
to Chase's lien.  Chase assumes entitlement to all the remaining
AGE cash contending that the entirety of the remaining proceeds
consist of working capital subject to Chase lender's interest, the
Committee states.

                        About Age Refining

Age Refining, Inc. owns a refinery in San Antonio, Texas.  It
manufactures, refines and markets jet fuels, diesel products,
solvents and other highly specialized fuels.

The Company filed for Chapter 11 bankruptcy protection (Bankr.
W.D. Texas Case No. 10-50501) on Feb. 8, 2010.  Aaron Michael
Kaufman, Esq., and Mark E. Andrews, Esq., at Cox Smith Matthews
Incorporated, in Dallas, represent the Chapter 11 debtor.  The
Company estimated $10 million to $50 million in assets and
$100 million to $500 million in liabilities in its bankruptcy
petition.

Eric Moeller has been named chapter 11 trustee to take management
of the Debtor from CEO Glen Gonzalez.  In November 2010, the
trustee filed suit against Mr. Gonzalez, alleging he breached his
fiduciary duty by dipping into Company coffers for his personal
use while paying himself an excessive salary and stock
distributions.

David S. Gragg, Esq., Steven R. Brook, Esq., Natalie F. Wilson,
Esq., and Allen M. DeBard, Esq., at Langley & Banack, Inc., in San
Antonio, Tex., serve as general counsel to the Chapter 11 Trustee.


AGY HOLDING: Incurs $6.2 Million Net Loss in Second Quarter
-----------------------------------------------------------
AGY Holding Corp. reported a net loss of $6.16 million on
$50 million of net sales for the three months ended June 30, 2011,
compared with a net loss of $5.86 million on $49.31 million of net
sales for the same period a year ago.

The Company also reported a net loss of $13.23 million on
$94.93 million of net sales for the six months ended June 30,
2011, compared with a net loss of $10.93 million on $94.88 million
of net sales for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed
$298.57 million in total assets, $285.16 million in total
liabilities, $6.13 million in obligation under put/call for non-
controlling interest, and $7.27 million total shareholders'
equity.

"Clearly our second quarter continued to be a major challenge
operationally and our financial performance did not meet our
expectations as a result of the inefficiencies resulting from our
transition to higher level of capacity utilization," commented
Doug Mattscheck, AGY's chief executive officer.  "We have
continued our focus on major areas of operations improvement
throughout the second quarter.  I am encouraged by the focus,
effort and positive results we have achieved in meeting our
efficiency and cost objectives in the current quarter, and I am
confident that the actions we are taking along with the value we
are recovering from our commercial actions will generate improved
operating results in the second half of 2011."

A full-text copy of the press release announcing the financial
results is available for free at http://is.gd/m75xZB

                         About AGY Holding

AGY Holding Corp. -- http://www.agy.com/-- produces fiberglass
yarns and high-strength fiberglass reinforcements used in
composites applications.  AGY serves a range of markets including
aerospace, defense, electronics, construction and industrial.
Headquartered in Aiken, South Carolina, AGY has a European office
in Lyon, France and manufacturing facilities in the U.S. in Aiken,
South Carolina and Huntingdon, Pennsylvania and a controlling
interest in a manufacturing facility in Shanghai, China.

The Company reported a net loss of $14.57 million on
$183.67 million of net sales for the year ended Dec. 31, 2010,
compared with a net loss of $93.51 million on $153.85 million of
net sales during the prior year.

                           *     *     *

AGY Holding carries a 'CCC+' corporate credit rating from Standard
& Poor's Ratings Services.  In December 2009, S&P lowered the
rating to 'CCC+' from 'B'.  "The downgrade follows S&P's ongoing
concern on operating performance, including S&P's expectation for
very weak credit metrics for 2009, weak liquidity relative to
interest payments and operating requirements in 2010, and
integration concerns related to the large $72 million acquisition
-- with a $20 million cash component -- of AGY Hong Kong Ltd.,"
said Standard & Poor's credit analyst Paul Kurias.


ALLIED DEFENSE: Has $44.4 Million of Net Assets in Liquidation
--------------------------------------------------------------
The Allied Defense Group, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $9.39 million on $0 of revenue for the three months
ended June 30, 2010.  The Company also reported a net loss of
$14.54 million on $0 of revenue for the six months ended June 30,
2010.

The Company's balance sheet at June 30, 2011, showed
$48.22 million in total assets, $3.78 million in total
liabilities, and $44.44 million in net assets in liquidation.

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

                        http://is.gd/tfENhD

                   About The Allied Defense Group

Vienna, Va.-based The Allied Defense Group, Inc. (OTCQB: ADGI)
-- http://www.allieddefensegroup.com/-- is a multinational
defense business focused on the manufacture and sale of ammunition
and ammunition related products for use by the U.S. and foreign
governments.  Allied's business is conducted by its two wholly
owned subsidiaries: Mecar S.A. ("Mecar") and Mecar USA, Inc.
("Mecar USA").  Mecar is located in Nivelles, Belgium and Mecar
USA is located in Marshall, Texas.  Corporate is located in
Vienna, Virginia.

The Company received a subpoena from the U.S. Department of
Justice on Jan. 19, 2010, requesting that the Company produce
documents relating to its dealings with foreign governments.  The
Company said it is unlikely that any distributions to stockholders
will be made until the matters relating to the DOJ subpoena have
been resolved.  The period of time required to resolve these
matters is expected to take in excess of one year.

                Plan of Dissolution and Liquidation

On June 24, 2010, the Company signed a definitive purchase and
sale agreement with Chemring Group PLC pursuant to which Chemring
agreed to acquire substantially all of the assets of the Company
for $59,560 in cash and the assumption of certain liabilities.  On
Sept. 1, 2010, the Company completed the asset sale to Chemring
contemplated by the Agreement.  Pursuant to the Agreement,
Chemring acquired all of the capital stock of Mecar for
approximately $45,810 in cash, and separately Chemring acquired
substantially all of the assets of Mecar USA for $13,750 in cash
and the assumption by Chemring of certain specified liabilities of
Mecar USA.  A portion of the purchase price was paid through the
repayment of certain intercompany indebtedness owed to the Company
that would otherwise have been cancelled at closing.  $15,000 of
the proceeds from the sale was deposited into escrow to secure the
Company's indemnification obligations under the Agreement.  The
$15,000 of cash plus earned interest income remains in escrow as
of March 31, 2011.

In conjunction with the Agreement, the Board of Directors of the
Company unanimously approved the dissolution of the Company
pursuant to a Plan of Complete Liquidation and Dissolution.  The
Company's stockholders approved the Plan of Dissolution on
Sept. 30, 2010.  In response to concerns of certain of the
Company's stockholders, the Company has agreed to delay the filing
of a certificate of dissolution with the Delaware Secretary of
State so that the stockholders may continue to transfer the
Company's common stock while the Company resolves the matters
relating to the U.S. Department of Justice subpoena.  The Company
will delay the filing of a certificate of dissolution with the
Delaware Secretary of State until the earlier of Aug. 31, 2011, or
a resolution of all matters concerning the DOJ.

On Sept. 2, 2010, the Company received a staff determination
letter from NYSE Amex LLC.  The Staff Determination stated that
the Exchange determined that the Company no longer complies with
the requirements for continued listing set forth in NYSE Amex LLC
Company Guide Section 1003(c)(i) as a result of the sale of
substantially all of the Company's assets.  On Sept. 20, 2010, the
Company announced that trading of shares of the Company's common
stock had been transferred from the NYSE Amex to the OTCQBTM
Marketplace effective Monday, Sept. 20, 2010.  The Company's
trading symbol is now ADGI.


AMERICA CAPITAL: Fitch Affirms 'B+' LT Issuer Default Rating
------------------------------------------------------------
Fitch Ratings has affirmed the long-term Issuer Default Rating
(IDR) of American Capital, Ltd. (ACAS) at 'B+'.  The Rating
Outlook is Stable. Approximately $700 million of debt is affected
by these actions.

The ratings affirmation incorporates considerable improvement in
the company's financial profile over the past year, specifically
the substantial overall reduction in debt and leverage, improving
operating and portfolio performance trends, a reduced need to sell
portfolio investments to generate liquidity, and increased
capacity under financial covenants to absorb potential
depreciation in portfolio investment value.

Ratings are constrained primarily by the lack of funding
flexibility, given the limited ability to access the equity
markets for capital, because ACAS' stock price is trading at a
discount relative to its net asset value (NAV), and the absence of
a debt facility with available borrowing capacity.

Instead, ACAS remains reliant on cashflow generated from the
existing investment portfolio and the ability to sell portfolio
investment assets to generate liquidity to meet ongoing funding
needs, which limits the company's ability to grow the portfolio,
and therefore, earnings.  However, Fitch positively notes that
ACAS has no significant debt maturities until the remaining $11
million of unsecured debt matures in August 2012 and the existing
$700 million of non-CLO secured debt matures in December 2013.
Thus, Fitch believes the company will generate sufficient
liquidity from the repayment of existing portfolio investments to
meet ongoing funding requirements and it has the needed
flexibility regarding the timing of portfolio investment sales
that may be required to repay existing debt.  Fitch expects asset
sales to continue at a measured pace, with proceeds likely being
redeployed into cash-yielding debt investments.

The company's efforts to monetize investments at or near fair
value to repay debt and reduce balance sheet leverage over the
past two years are viewed positively by Fitch.  As of June 30,
2011, total debt was down 44% from a year ago and equaled $1.6
billion.  In addition, ACAS' leverage (total debt/equity) and
asset coverage ratios have benefitted from the recognition of $2.3
billion in unrealized appreciation of portfolio investments since
YE09.  Leverage equaled 0.36 times (x) at June 30, 2011, down
substantially from 1.78x at YE09. Asset coverage stood at 376% up
significantly from 1.56% at YE09.

The financial covenants on secured debt include the maintenance of
a minimum ratio of adjusted operating cash flow to interest
expense of 1.15x and a minimum ratio of pledged assets to secured
debt of 1.20x.  As of June 30, 2011, the adjusted cashflow to
interest ratio equaled 9.35x and the pledged assets to secured
debt ratio stood at 6.27x.

Fitch believes these levels provide operating flexibility and
sufficient headroom to absorb a substantial decline in portfolio
investment fair value.  However, in light of recent market
conditions and weak economic environment, Fitch remains concerned
that underlying portfolio fair value is exposed to a higher degree
of volatility than at peer BDCs, as equity investments constitute
nearly 50% of the overall investment portfolio.

Although overall underlying portfolio performance trends have
improved, asset quality remains a concern as nonaccrual loans
remain elevated.  Delinquent loans and nonperforming loans as a
percentage of total loans at fair value equaled 9% at June 30,
2011 up from 7.8% a year ago.  However, on a dollar basis, non-
accruing loans have fallen from $746m at 3Q'10 to $519 million at
2Q'11.

Based on a 'RR2' Recovery Rating (RR), notching of the senior
secured debt rating remains above that of the IDR and continues to
reflect Fitch's belief that collateral available to creditors,
even on a stressed basis, provides superior recovery prospects
given default.  Notching of the unsecured debt rating below the
IDR and the Recovery Rating reflects subordination of unsecured
debt to existing secured debt, which has a blanket lien on all
portfolio assets.

Positive rating momentum will be driven by stabilization in market
conditions and further improvement in underlying portfolio
investment performance to support appreciation in portfolio fair
value, the redeployment of portfolio cash flows into higher
yielding, good quality, debt investments, which support improved
operating performance, a reduction in non-accrual levels, and
enhanced funding flexibility, including the ability to access the
equity markets and arrange additional debt financing for capital
to originate new portfolio investments and grow the investment
portfolio.

Unrealized portfolio depreciation that yields lower asset
coverage, persistent weakness or further deterioration in
portfolio asset quality and asset values, or deterioration in the
company's liquidity position due to an inability to generate
sufficient liquidity to meet ongoing funding requirements would
likely generate negative rating momentum.

Fitch has affirmed the following ratings:

American Capital, Ltd

  -- Long-term IDR at 'B+';
  -- Senior Secured debt at 'BB/RR2';
  -- Senior unsecured debt at 'B-/RR6.

The Rating Outlook is Stable


AMERICA WEST: Brian Rodriguez Resigns as Director
-------------------------------------------------
One of America West Resources, Inc.'s directors, Brian Rodriguez,
resigned effective Aug. 12, 2011.  His resignation was not as a
result of any disagreement with the Company on any matter relating
to the Company's operations, policies or practices, according to a
regulatory filing by the Company.

                        About America West

Based in Salt Lake City, Utah, America West Resources, Inc., is an
established domestic coal producer engaged in the mining of clean
and compliant (low-sulfur) coal.  The majority of the Company's
coal is sold to utility companies for use in the generation of
electricity.

The Company reported a net loss of $16.14 million on
$10.07 million of total revenue for the year ended Dec. 31, 2010,
compared with a net loss of $8.70 million on $11.01 million of
total revenue during the prior year.

As reported by the TCR on April 21, 2011, MaloneBailey, LLP, in
Houston, Texas, expressed substantial doubt about America West's
ability to continue as a going concern, following the 2010
financial results.  The independent auditors noted that the
Company has a working capital deficit and has incurred significant
losses.

The Company's balance sheet at March 31, 2011, showed
$28.14 million in total assets, $27.03 million in total
liabilities, and $1.11 million in total stockholders' equity.


AMERITOX LTD: Moody's Withdraws 'B2' Corporate Family Rating
------------------------------------------------------------
Moody's Investors Service has withdrawn the existing ratings on
Ameritox Ltd., including the B2 Corporate Family Rating, B2
Probability of Default Rating, and the B2 (LGD4, 50%) senior
secured credit facility ratings because the company's proposed
transaction did not occur as planned and the instruments are not
outstanding.

The principal methodology used in rating Ameritox was the Global
Business & Consumer Service Industry Methodology, published
October 2010. Other methodologies used include Loss Given Default
for Speculative Grade Issuers in the US, Canada, and EMEA,
published June 2009.

Ameritox, headquartered in Baltimore, Maryland, is a leading
provider of chronic pain medication monitoring services in the US,
with laboratory testing and proprietary methods of analysis for
chronic pain patients that have been prescribed long-term opioids.


AMT LLC: Proposes $14.1-Mil. of DIP Financing from Omega
--------------------------------------------------------
AMT, LLC, asks the U.S. Bankruptcy Court for the Northern District
of Florida for permission to obtain post petition financing of
$14.1 million from Omega Commercial Finance Corp, to be secured by
the Debtor's 11.77 acres of waterfront property located in Destin
Pass in Destin, Florida.  This property is subject to a mortgage
in favor of Jefferson Bank and Trust Company, which is owed
approximately $4,842,150 as of the petition date.

The loan proceeds will be used to pay all creditors in the Chapter
11 case in full.  Jefferson Bank and Trust will be paid at
closing, or Aug. 17, 2011, to enable Omega to obtain a first lien
position on the property.

The significant terms of the loan are:

Borrower:          AMT, LLC

Non-Recourse:      Omega will have the right, in its sole and
                   absolute discretion, to structure the Non-
                   Recourse Financing so as to bifurcate it, sell
                   participations, enter into a joint venture or
                   other inter creditor agreement, or otherwise
                   structure the Financing provided that the
                   underlying cost and material terms and
                   conditions of the Financing remain the same
                   as set forth for the Borrower.

Total Amount:      $14.1 million

Interest Rate:     10.75% p.a., payable monthly.

Term:              36 months from the first day of the month
                   following the closing date.  Provided the
                   Borrower is not in default of any interest
                   payments at maturity, Borrower, with the
                   agreement of Omega, can extend the loan for an
                   additional 12 months term at the then
                   prevailing loan rate with a 1% Extension Fee.

18 Month Interest
          Reserve: Omega will deduct from the gross financing
                   amount to escrow as an Interest Reserve in the
                   amount of $2,273,625 which will be use to pay
                   the 1st 18 months interest payments until
                   account is depleted to zero balance.

Origination Fee:   2.5%

A complete text of the terms of the financing is available at:

  http://bankrupt.com/misc/amtllc.dipfinancingmotion(omega).pdf

AMT, LLC, in Destin, Florida, filed for Chapter 11 bankruptcy
(Bankr. N.D. Fla. Case No. 11-30933) on May 27, 2011.  The
Debtor's major asset consisted of 11.77 acres of waterfront
property located in Destin Pass in Destin, Florida.  Judge William
S. Shulman presides over the case.  J. Steven Ford, Esq., at
Wilson, Harrell, Farrington, Ford, Wilson, Spain, & Parsons, P.A.,
in Pensacola, Fla., serves as the Debtor's counsel.  In its
schedules, the Debtor disclosed $30,679,648 in assets and
$5,060,823 in liabilities.


ANIXTER INT'L: Moody's Says Sale Has No Impact on 'Ba2' Corporate
-----------------------------------------------------------------
Moody's commented that the sale of the Aerospace Hardware Division
has no immediate impact on Anixter International Inc.'s Ba2
Corporate Family Rating or stable outlook.

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

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

Anixter International Inc. is a holding company and the direct
parent company of Anixter Inc., the company's primary operating
company. Anixter is a leading global distributor of communications
products, electrical and electronic wire and cable, fasteners and
other small parts to Original Equipment Manufacturers. Revenues
for the twelve months through July 1, 2011 totaled about $6.0
billion.


ARAPAHOE LAND: Asks Court to Dismiss Chapter 11 Case
----------------------------------------------------
Arapahoe Land Investments LP asks the U.S. Bankruptcy Court for
the Southern District of Texas to dismiss its Chapter 11 case,
citing that dismissal is in the best interest of creditors and
parties-in-interest.

The Debtor says there are no remaining assets of the estate. On
May 9, 2011, Court granted an agreed order lifting automatic stay,
allowing a real property -- two tracts of land in League City,
Texas, Galveston County, Texas totaling approximately 67 acres --
to be foreclosed on July 5, 2011.  The Debtor has determined that
is not possible to pursue or prosecute the Chapter 11 case.

                       About Arapahoe Land

Before filing for bankruptcy, Arapahoe Land Investments LP owned a
67-acre property in League City, Texas, worth $13.5 million while
its mortgage debt is $8.5 million.  Trustmark National Bank was
the holder of the mortgage.  The Abundant Life Christian Center of
Lamarque Inc. holds about 75% of the limited partner interests.

Castle Rock, Colorado-based Arapahoe Land Investments, LP, filed
for Chapter 11 bankruptcy protection (Bankr. S.D. Tex. Case No.
11-80194) on April 5, 2011.

Barbara Mincey Rogers, Esq., at Rogers & Anderson, PLLC, in
Houston, Texas, serves as counsel to the Debtor.


ARCHBROOK LAGUNA: Gordon Brothers Group Acquires Assets
-------------------------------------------------------
Gordon Brothers Group has acquired principally all of the assets
of ArchBrook Laguna Holdings, LLC.  ArchBrook had sales in 2010 of
over $800 million and maintained operations in Georgia, Nevada and
New Jersey.

The Assets acquired by Gordon Brothers Group include ArchBrook
Laguna's finished inventory, comprised of consumer electronics,
computers and peripherals, as well as a diverse inventory of
branded housewares. In addition, the warehouse, material handling
machinery and IT assets were also acquired by Gordon Brothers
Group.  In a related transaction, at closing Gordon Brothers Group
completed a sale to Tucker, Georgia-based SED International
Holdings, Inc. of certain inventory, customer lists and related
intellectual property associated with the Lehrhoff & Co. division
of ArchBrook, a distributor of small appliances, housewares,
personal care products.

"We have nearly $20 million at cost of finished inventory that is
immediately available for sale to wholesalers and retailers," said
Robert Maroney, Co-President, Commercial & Industrial Division,
Gordon Brothers Group.  "With back-to-school upon us and the
holiday season around the corner, this is the ideal time for this
type of merchandise to hit the marketplace."

Added Robert Himmel, Co-President, Commercial & Industrial
Division, Gordon Brothers Group, "By strategically partnering with
SED International on the Lehrhoff business, and Steamboat Partners
of Chicago, IL on the accounts receivable purchase, we were able
to structure a triple win multi-asset deal."

Inquiries on any assets available for sale should be directed to:
Ulos Anderson of Gordon Brothers Group's Commercial & Industrial
Division at 615-345-0381.

                  About Gordon Brothers Group

Founded in 1903, Gordon Brothers Group --
http://www.gordonbrothers.com/-- is a global advisory,
restructuring and investment firm specializing in the retail,
consumer products, industrial, and real estate sectors. Gordon
Brothers Group maximizes value for both healthy and distressed
companies by purchasing or selling all categories of assets,
appraising assets, providing debt financing, making private equity
investments, and operating businesses for extended periods.
Gordon Brothers Group conducts over $50 billion worth of
transactions and appraisals annually.

                      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.

Akin Gump Straus Hauer & Feld LLP, in New York, serves as counsel
to the Debtors.  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.


ARCHBROOK LAGUNA: Committee Taps Loughlin as Financial Advisor
--------------------------------------------------------------
The Official Committee of Unsecured Creditors of Archbrook Laguna
Holdings LLC and its debtor-affiliates asks the U.S. Bankruptcy
Court for the Southern District of New York for permission to
retain Loughlin Meghji + Company as its financial advisor to
assist and advise the Committee in the analysis of the current
financial position of the Debtors.

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

   Classification                 Standard Hourly Rates
   --------------                 ---------------------
   Principal/Managing Director    $695-$795
   Director                       $550-$650
   Vice President                 $475
   Senior Associate               $425
   Associate                      $375
   Analyst                        $300
   Paraprofessional               $150

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

                     About ArchBrook Laguna

ArchBrook was a procurement and distribution intermediary between
production companies and end retailers.  It distributed 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.

In August 2011, ArchBrook Laguna LLC won approval to sell its
consumer electronics and appliances distribution business to
Gordon Brothers Group LLC for some $25 million, after fielding
offers at an auction.


ARCHBROOK LAGUNA: Committee Proposes Cooley LLP as Counsel
----------------------------------------------------------
The Official Committee of Unsecured Creditors of Archbrook Laguna
Holdings LLC and its debtor-affiliates asks the U.S. Bankruptcy
Court for the Southern District of New York for permission to
retain Cooley LLP as its counsel.

The firm will, among other things:

  a) attend the meetings of the Committee;

  b) review financial information furnished by the Debtors to the
     Committee;

  c) negotiate the budget and the use of cash collateral and DIP
     financing;

  d) review and investigate the liens of purported secured
     parties; and

  e) confer with the Debtors.

The firm's professionals will charge the Debtors' estates at these
rates:

    Professional           Designation   Hourly Rate
    ------------           -----------   -----------
    Lawrence C. Gottlieb   Partner       $955
    Cathy R. Hershcopf     Partner       $765
    Jeffrey L. Cohen       Partner       $630
    Alex R. Velinsky       Associate     $375
    Dana S. Katz           Associate     $375
    Rebecca Goldstein      Paralegal     $245

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

                     About ArchBrook Laguna

ArchBrook was a procurement and distribution intermediary between
production companies and end retailers.  It distributed 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.

Loughlin Meghji + Company serves as financial advisor to the
Official Committee of Unsecured Creditors.

In August 2011, ArchBrook Laguna LLC won approval to sell its
consumer electronics and appliances distribution business to
Gordon Brothers Group LLC for some $25 million, after fielding
offers at an auction.


ARCHBROOK LAGUNA: Court Approves Akin Gump as Bankruptcy Counsel
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
authorized ArchBrook Laguna Holdings LLC and certain of its
affiliates to employ Akin Gump Strauss Hauer & Feld LLP as their
attorneys, nunc pro tunc to the Petition Date.

Peter Handy of ArchBrook Laguna relates that Akin Gump is
intimately familiar with the Debtors' business and financial
affairs because it has served as counsel to Archbrook Laguna LLC
since 2005, providing litigation-related services.  More recently,
prior to the commencement of these Chapter 11 cases, the Debtors
retained Akin Gump to provide general bankruptcy and restructuring
advice, and in the weeks leading up to the Petition Date, Akin
Gump was actively involved in the preparation of cases.

Akin Gump will, among other things, advise the Debtors with
respect to their powers and duties as debtors-in-possession in the
continued operation of their business and the management of their
properties and draft all necessary or appropriate motions,
applications, answers, orders, reports, and other papers in
connection with the administration of the bankruptcy estates on
behalf of the Debtors.

Akin Gump will be paid in accordance with its standard hourly
rates:

      Professional            Hourly Rates
      ------------            ------------
      Partners               $500 - $1,200
      Counsel                $415 -   $850
      Associates             $335 -   $625
      Paraprofessionals      $125 -   $310

The Akin Gump attorneys with primary responsibility for this
matter are:

      Professional            Hourly Rates
      ------------            ------------
      Ira S. Dizengoff            $975
      Daniel I. Fisher            $600
      Michael P. Cooley           $660
      Alexis Freeman              $675
      Kristine Manoukian          $510
      Daniel Harris               $460

The Debtors will also reimburse Akin Gump for its out-of-pocket
expenses incurred in connection with its employment.

Ira S. Dizengoff, Esq., a partner at Akin Gump Strauss Hauer &
Feld LLP, in New York -- idizengoff@akingump.com -- disclosed that
in the one year prior to the Petition Date, Akin Gump has received
payment for $3,418,000 for services rendered to the Debtors and
their affiliates.  Of this amount, $1,630,000 was paid to Akin
Gump for services performed in connection with the Debtors'
bankruptcy filing.

Mr. Handy notes that Akin Gump has used this advance payment to
credit the Debtors' account for its charges for professional
services performed and expenses incurred before the Petition Date.
After application of the amounts for payment of any additional
prepetition professional services and related expenses, any excess
amounts will be held as an advance payment retainer and applied to
postpetition allowance of compensation and reimbursement of
expenses as allowed by the Court.

Mr. Dizengoff attests that Akin Gump is disinterested and
represents no interest adverse to the Debtors and their creditors.

                     About ArchBrook Laguna

ArchBrook was a procurement and distribution intermediary between
production companies and end retailers.  It distributed 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.

The Official Committee of Unsecured Creditors is being advised by
Cooley LLP, in New York, as counsel, and Loughlin Meghji + Company
serves as financial advisor.

In August 2011, ArchBrook Laguna LLC won approval to sell its
consumer electronics and appliances distribution business to
Gordon Brothers Group LLC for some $25 million, after fielding
offers at an auction.


ARCHBROOK LAGUNA: Court Approves Hawkwood Consulting as CRO
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
authorized ArchBrook Laguna Holdings LLC and certain of its
affiliates to employ Hawkwood Consulting LLC as crisis manager for
the Debtors and appoint Stephen J. Gawrylewski, a principal of
Hawkwood, as their chief restructuring officer.

The Court approved the terms of Hawkwood's employment, including
the proposed fee structure and the indemnification provisions set
forth in the Engagement Letter.

As reported in the July 28, 2011 edition of the Troubled Company
Reporter, certain Hawkwood professionals, including Mr.
Gawrylewski, have been providing crisis management services to the
Debtors since May 26, 2011, when the Debtors initially selected
those individuals as restructuring consultants to assist in the
Debtors' restructuring process, to address certain financial
issues.  On June 13, 2011, certain of the Hawkwood Professionals
formed Hawkwood, which the Debtors now seek to employ to assist in
the Debtors' restructuring process as set forth in the engagement
letter dated June 13, 2011.

Under the Engagement Letter, Mr. Gawrylewski will serve as CRO,
reporting to appropriate persons of the Debtors, and will direct
the Debtors' reorganization.  Mr. Gawrylewski, with the other
Hawkwood Professionals, will be responsible for assisting the
Debtors' senior management team in their postpetition
restructuring efforts, including negotiating with parties-in-
interest and coordinating the "working group" of professionals,
who are or will be assisting the Debtors in the restructuring
process or who are working for the Debtors' stakeholders.

The Debtors will pay Hawkwood for compensation for its
professional services rendered and reimbursement of reasonable
out-of-pocket expenses incurred in connection with the cases in
accordance with the proposed compensation set forth in the
Engagement Letter.  In summary, the Fee Structure provides for
this compensation to Hawkwood:

   (a) Retainer -- the Debtors paid Hawkwood a $200,000 retainer.
       Any unearned portion of the retainer will be returned to
       the Debtors upon the termination of the engagement;

   (b) Hourly Rates -- Fees for the CRO and the other Hawkwood
       Professionals based on these hourly rates:

            Title                 Hourly Rate
            -----                 -----------
            Principals                   $450
            Managing Directors    $350 - $450
            Directors             $275 - $350

   (c) Value Added Fee -- The Debtors also agree to pay Hawkwood
       a contingent value added fee of $400,000 to be awarded and
       paid upon the earlier to occur of:

       * the consummation of a plan of reorganization for the
         Debtors; or

       * the consummation of the sale of all or a substantial
         portion of the assets of the Debtors through one
         transaction or a series of transactions, and in the
         event of a series of transactions, the Value Added Fee
         may be awarded as of the consummation of the final
         transaction in the series.

Pursuant to the Engagement Letter, the Debtors have negotiated
with Hawkwood the indemnification agreement, pursuant which the
Debtors have agreed to indemnify and hold harmless Hawkwood and
its affiliates under certain circumstances.  The Debtors have
agreed to indemnify the CRO to the same extent as the most
favorable indemnification it extends to its officers or directors,
and no reduction or termination in any of the benefits provided
under the indemnities will affect the benefits provided to the CRO
or the other Hawkwood Professionals.  The CRO will be covered as
an officer under the Debtors' existing director and officer
liability insurance policy, which the Debtors will maintain for
the CRO for a period of not less than two years following the date
of the termination of the officer's services.

Mr. Gawrylewski ascertains that Hawkwood is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.

                     About ArchBrook Laguna

ArchBrook was a procurement and distribution intermediary between
production companies and end retailers.  It distributed 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.

The Official Committee of Unsecured Creditors is being advised by
Cooley LLP, in New York, as counsel, and Loughlin Meghji + Company
serves as financial advisor.

In August 2011, ArchBrook Laguna LLC won approval to sell its
consumer electronics and appliances distribution business to
Gordon Brothers Group LLC for some $25 million, after fielding
offers at an auction.


ASARCO LLC: 5th Circuit Backs Payment of Auction Costs
------------------------------------------------------
Dan Rivoli at Bankruptcy Law360 reports that the Fifth Circuit on
Tuesday affirmed a bankruptcy court ruling that allowed bidders
for mining company Asarco LLC's major asset -- a $1.4 billion
judgment related to a wrongful stock transfer -- to be reimbursed
for the legal costs required to analyze the transaction.

Law360 relates that the appeals court said the bankruptcy court
correctly authorized the reimbursement to auction bidders, finding
that there was no clear error in its decision.

                         About Asarco LLC

Based in Tucson, Arizona, ASARCO LLC -- http://www.asarco.com/--
is an integrated copper mining, smelting and refining company.
Grupo Mexico S.A. de C.V. is ASARCO's ultimate parent.

ASARCO LLC filed for Chapter 11 protection (Bankr. S.D. Tex. Case
No. 05-21207) on Aug. 9, 2005.  Attorneys at Baker Botts
L.L.P., and Jordan, Hyden, Womble & Culbreth, P.C., represented
the Debtor in its restructuring efforts.

On Dec. 9, 2009, Grupo Mexico, S.A.B., consummated the Chapter
11 plan that it sponsored for Asarco LLC.  The Plan, which was
confirmed both by the bankruptcy and district courts, reintegrated
Asarco LLC back to parent Grupo Mexico concluding the four-year
Chapter 11 proceeding.


ATCON PLYWOOD: Miramichi Mill Could be Sold at Last
---------------------------------------------------
The New Brunswick Business Journal reports that the former Atcon
Plywood mill in Miramichi, in northern New Brunswick, Canada,
could be sold at last.  After years of potential investors
expressing interest only to fade away, two companies are vying to
once again get the mill up and running, according to the report.

In June, the report notes that the mill was supposed to be
approved for sale to Quebec businessman Pierre Seguin for
$2.8 million.  But in a dramatic last-minute flourish, a second
bidder demanded his offer, $300,000 more than Seguin's, be
considered, Business Journal says.  Charles Martin, a businessman
from Illinois, offered $3.1 million for the mill.

Business Journal notes that to give both would-be-buyers time to
hash out their offers with the receiver, the judge overseeing the
Atcon bankruptcy gave them until Aug. 15.

The Company was shuttered in 2008 and 100 people lost their jobs
in what was supposed to be a temporary shutdown due to poor market
conditions, the report recalls.

Atcon fell to its knees under the weight of its debts and was put
into receivership in April 2010, Business Journal notes.  It owed
almost $250 million, including $72.5 million to the province, the
report relates.

Business Journal notes that both Ernst & Young and
PriceWaterhouseCoopers, the two firms in charge of Atcon's
receivership, have tried to sell all the assets.

With the latest offer on the Atcon Plywood mill clocking in at
least 2.8 million, it means recovered assets will ring in at more
than $20 million, the report adds.


BARBETTA LLC: Court Approves David Bradley as Accountant
--------------------------------------------------------
The Hon. J. Rich Leonard of the U.S. Bankruptcy Court for the
Eastern District of North Carolina authorized Barbetta LLC to
employ the accounting firm of David J. Bradley, CPA, to perform
and supervise the accounting of the Debtor, prepare annual tax
returns and provide accounting assistance, as needed.

Services will be rendered by these employees of Mr. Bradley:

   David J. Bradley, CPA          $150
   William J. Norwood, CPA        $150
   Patsy Smith                    $80
   Jo-Anna Skorupski              $70
   Betsy Schulthesis              $50

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

Based in Selma, North Carolina, Barbetta, LLC -- formerly doing
business as Hester 1996 Family Limited Partnership, South Pollock
Street Development & Sign Co., LLC, Hester 5, LLC, and Hester 8,
LLC -- filed for Chapter 11 bankruptcy (Bankr. E.D.N.C. Case No.
11-04370) on June 6, 2011.

Judge J. Rich Leonard presides over the case.  Trawick H. Stubbs,
Jr., at Stubbs & Perdue, P.A., serves as the Debtor's bankruptcy
counsel.  In its Schedules filed together with the petition, the
Debtor disclosed $24,889,321 in total assets and $12,855,596 in
total liabilities.  The petition was signed by Charles E. Hester,
member manager.

Charles and Barbetta Hester also filed a separate Chapter 11
petition (Bankr. E.D.N.C. Case No. 11-04375) on June 6, 2011.


BARBETTA LLC: Court Approves Subbs & Perdue as Counsel
------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of North
Carolina authorized Barbetta, LLC, to employ Trawick H. Stubbs,
Jr. and Stubbs & Perdue, P.A., as counsel.

The firm will be representing the Debtor in the Chapter 11
proceeding.

On Feb. 23, 2011, Stubbs & Perdue received $26,039 from Charles
Hester on behalf of the Debtor and the funds were deposited into
the firm's Trust Account to secure future fees and expenses
incurred by the firm.  From these funds, $18,407 was paid to the
firm representing pre-petition fees and expenses incurred by the
Debtor through June 6, 2011, leaving a balance of $7,631.44 in the
trust account for anticipated fees expected to arise during the
course of the Chapter 11 bankruptcy.

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

The firm can be reached at:

         Trawick H. Stubbs, Jr.
         STUBBS & PERDUE, P.A.
         310 Craven Street
         P.O. Box 1654
         New Bern, NC 28563-1654
         Tel: (252) 633-2700
         Fax: (252) 633-9600

Based in Selma, North Carolina, Barbetta, LLC -- formerly doing
business as Hester 1996 Family Limited Partnership, South Pollock
Street Development & Sign Co., LLC, Hester 5, LLC, and Hester 8,
LLC -- filed for Chapter 11 bankruptcy (Bankr. E.D.N.C. Case No.
11-04370) on June 6, 2011.

Judge J. Rich Leonard presides over the case.  In its schedules
filed together with the petition, the Debtor disclosed $24,889,321
in total assets and $12,855,596 in total liabilities.  The
petition was signed by Charles E. Hester, member manager.

Charles and Barbetta Hester also filed a separate Chapter 11
petition (Bankr. E.D.N.C. Case No. 11-04375) on June 6, 2011.


BARBETTA LLC: Court Approves Charles Hester as Member-Manager
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of North
Carolina authorized Barbetta LLC to approve the employment of
Charles E. Hester, as member-manager of the Debtor.

Mr. Hester has been a member-manager of the Debtor for
approximately 12 years.  His duties are to oversee operations
including, but not limited to:

   a. managing and overseeing all day-to-day operations,
      including accounting and bookkeeping functions;

   b. managing accounts receivables and dealing with tenants
      concerning past due rental payments, and collection of rent
      where necessary;

   c. negotiating with current new tenants concerning lease
      terms;

   d. reviewing applications for new leases, performing credit
      checks where required, and establishing terms for all
      properties;

   e. overseeing all capital improvements and major repairs to
      the properties, including managing the Debtor's cash flow
      in order to provide funds for capital improvements; and

   f. overseeing the duties performed by the superintendent and
      employee.

Mr. Hester is expected to perform the services in excess of 60
hours per week.

The Debtor will pay him in the form of a monthly owners draw
$3,784.  They will provide him with a cell phone, which is paid
$40 monthly and a vehicle owned by the Debtor.

Based in Selma, North Carolina, Barbetta, LLC -- formerly doing
business as Hester 1996 Family Limited Partnership, South Pollock
Street Development & Sign Co., LLC, Hester 5, LLC, and Hester 8,
LLC -- filed for Chapter 11 bankruptcy (Bankr. E.D.N.C. Case No.
11-04370) on June 6, 2011.

Judge J. Rich Leonard presides over the case.  Trawick H. Stubbs,
Jr., at Stubbs & Perdue, P.A., serves as the Debtor's bankruptcy
counsel.  In its schedules filed together with the petition, the
Debtor disclosed $24,889,321 in total assets and $12,855,596 in
total liabilities.  The petition was signed by Charles E. Hester,
member manager.

Charles and Barbetta Hester also filed a separate Chapter 11
petition (Bankr. E.D.N.C. Case No. 11-04375) on June 6, 2011.


BARNES BAY: Court Rejects Request to Reclassify Customers' Claim
----------------------------------------------------------------
Bankruptcy Judge Peter J. Walsh denied a motion for
reclassification of the claims submitted by Jonathan Simon and
W.O. Viceroy I Ltd. in the bankruptcy case of Barnes Bay
Development Ltd., Kor Duo Investment Partners II, LP, and Kor Duo
II, LLC.  Simon and Viceroy objected to the classification of
their claims as Tier 2 Claims, alleging instead that their claims
should be classified as Class 6/Tier 1 Claims or Class 5/General
Unsecured Claims.  The claims arise from agreements with the
Debtors for the purchase of residential units.  According to Judge
Walsh, from the plain language of the Debtors' Plan, it is clear
that Simon's and Viceroy's claims are properly classified as PSA
Claims, and do not fit the definition of Tier 1 Claims or General
Unsecured Claims.   A copy of Judge Walsh's Aug. 15, 2011
Memorandum Opinion is available at http://is.gd/SnrKNMfrom
Leagle.com.

                         About Barnes Bay

Beverly Hills, California-based Barnes Bay Development Ltd., owns
the Viceroy Anguilla Resort & Residences on the British West
Indies island of Anguilla.  Barnes Bay and two affiliates filed
for Chapter 11 bankruptcy protection (Bankr. D. Del. Lead Case No.
11-10792) on March 17, 2011, to facilitate the sale of the resort.
Barnes Bay disclosed $3,331,282 in assets and $481,840,435 in
liabilities as of the Chapter 11 filing.

Akin Gump Straus Hauer & Feld LLP is the Debtors' bankruptcy
counsel, and Keithley Lake & Associates is the Debtors' special
Anguillan counsel.  Kurtzman Carson Consultants LLC is the
Debtors' claims, noticing, solicitation and balloting agent.

The U.S. Trustee appointed five members to the official committee
of unsecured creditors in the Debtors' cases.  Brown Rudnick LLP
serves as the Committee's co-counsel, and Womble Carlyle Sandridge
& Rice, PLLC, as its Delaware co-counsel.  C.R. Hodge & Associates
is the Committee's foreign counsel.  FTI Consulting, Inc., serves
as the Committee's financial advisors.

The Bankruptcy Court in Wilmington, Delaware, will convene a
hearing on Aug. 24, 2011, at 2:00 p.m. to consider approval of the
Second Amended Joint Chapter 11 Plan of Liquidation filed in the
case of Barnes Bay Development Ltd. and its affiliates.

The confirmation hearing was originally scheduled for Aug. 17.


BAYVIEW HOLDINGS: Loses Key Asset, To Seek Dismissal Sept. 8
------------------------------------------------------------
As reported in the TCR on July 18, 2011, American Bankruptcy
Institute reports that U.S. Bankruptcy Judge Ross W. Krumm denied
confirmation of Bayview Holdings, LLC's third amended plan and
granted secured creditor Bank of Floyd's motion for stay relief to
foreclose on its collateral.

According to the Debtor, Bank of Floyd is preparing to sell the
property subject to its liens.

Citing the lack of assets available for distribution to creditors,
the Debtor has requested the Court to dismiss its Chapter 11 case.

A hearing on the motion is scheduled for Sept. 8, 2011, at 3:00
p.m.

Moneta, Virginia-based Bayview Holdings, LLC, is owned by Tom
Lovegrove, who is its sole member and managing member.  The Debtor
is in the business of acquiring and developing land on or near
Smith Mountain Lake in Virginia.

Bayview filed for chapter 11 bankruptcy protection (Bankr. W.D.
Va. Case No. 09-72799) on Nov. 2, 2009.  Kevin J. Funk, Esq., and
Bruce E. Arkema, Esq., at DurretteBradshaw, PLC, in Richmond,
Virginia, represent the Debtor.  In its schedules, the Debtor
disclosed $13,348,258 in assets and $10,675,663 in liabilities as
of the petition date.


BERNARD L. MADOFF: Trustee Wins Ruling on Calculating Losses
------------------------------------------------------------
As widely reported, the trustee liquidating Bernard L. Madoff's
former firm on Aug. 16 won an appeals court ruling that affirmed
his method of determining which investors can recover money lost
in the Ponzi scheme.

Carla Main at Bloomberg News reports the federal appeals court in
New York said Aug. 16 that trustee Irving Picard can calculate
losses by subtracting the amount withdrawn from an investor's
account from the total placed with Mr. Madoff, the so-called net
investment method. A group of Madoff victims urged the court to
require Mr. Picard to use their final account statements,
reflecting fictitious profits on money Madoff never invested, to
determine losses.

Bloomberg News reports the ruling limits the number of victims who
can claim money from the fund Mr. Picard oversees and reduces the
amount of many eligible claims.  The net investment method used by
Mr. Picard "was more consistent with the statutory definition of
'net equity' than any other method advocated by the parties or
perceived by this court," Chief U.S. Circuit Judge Dennis Jacobs
wrote in the opinion.

Mr. Picard has sued investors, banks and others he claims profited
from Mr. Madoff or should have known of his fraud, seeking a total
of about $100 billion.  Madoff investors who removed more from
their accounts than they invested stand to lose from the Aug. 16's
ruling.  Mr. Picard's loss calculation method also reduces the
amount of payouts to Madoff investors by the Securities Investor
Protection Corp., which reimburses defrauded investors up to
$500,000 per account.  Mr. Picard represents SIPC.

"The Second Circuit's ruling will destroy investor confidence in
the capital markets because the promise of SIPC insurance is
illusory," said Helen Chaitman, a lawyer for many Madoff victims,
according to Bloomberg. "The message to every American who invests
in the stock market is clear: Invest at your own risk and assume
that SIPC insurance does not exist."

                     About Bernard L. Madoff

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

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

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

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

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

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


BIOFUEL ENERGY: Incurs $8.3 Million Net Loss in Second Quarter
--------------------------------------------------------------
Biofuel Energy Corp. filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, reporting a net loss
of $8.31 million on $168.53 million of net sales for the three
months ended June 30, 2011, compared with a net loss of
$11.97 million on $96.39 million of net sales for the same period
a year ago.

The Company also reported a net loss of $17.36 million on
$326.53 million of net sales for the six months ended June 30,
2011, compared with a net loss of $22.40 million on
$197.28 million of net sales for the same period during the prior
year.

The Company's balance sheet at June 30, 2011, showed $311.74
million in total assets, $219.59 million in total liabilities and
$92.14 million in total equity.

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

                        http://is.gd/VptJmR

                        About Biofuel Energy

Denver, Colo.-based BioFuel Energy Corp. (Nasdaq: BIOF)
-- http://www.bfenergy.com/-- aims to become a leading ethanol
producer in the United States by acquiring, developing, owning and
operating ethanol production facilities.  It currently has two
115 million gallons per year ethanol plants in the Midwestern corn
belt.

The Company reported a net loss of $25.22 million on
$453.41 million of net sales for the year ended Dec. 31, 2010,
compared with a net loss of $19.70 million on $415.51 million of
net sales during the prior year.

                      Going Concern Doubt;
                       Bankruptcy Warning

Grant Thornton LLP, in Denver, did not issue a going concern
qualification after auditing the Company's financial statements
for the year ended Dec. 31, 2010.

As reported in the Troubled Company Reporter on March 31, 2010,
Grant Thornton LLP, in Denver, expressed substantial doubt about
the Company's ability to continue as a going concern, following
its 2009 results.  The independent auditors noted that the Company
has experienced declining liquidity and has $16.5 million of
outstanding working capital loans that mature in September 2010.

In the Form 10-K for the year ended Dec. 31, 2010, the Company
noted that its ability to make payments on and refinance its $230
million senior debt facility -- of which $189.4 million was
outstanding as of Dec. 31, 2010 -- depends on its ability to
generate cash from operations.  The Company noted that during its
first two full years' of operations, it has been unable to
consistently generate positive cash flow.  In addition, it
continues to have, severely limited liquidity, with $7.4 million
of cash on hand as of Dec. 31, 2010.

"If we do not have sufficient cash flow to service our debt, we
would need to refinance all or part of our existing debt, sell
assets, borrow more money or raise additional capital, any or all
of which we may not be able to do on commercially reasonable terms
or at all.  If we are unable to do so, we may be required to
curtail operations or cease operating altogether, and could be
forced to seek relief from creditors through a filing under the
U.S. Bankruptcy Code.  Because the debt under our Senior Debt
Facility subjects substantially all of our assets to liens, there
may be no assets left for stockholders in the event of a
liquidation.  In the event of a foreclosure on all or
substantially all of our assets, we may not be able to continue to
operate as a going concern."


BIOJECT MEDICAL: Files Form 10-Q, Posts $273,000 Income in Q2
-------------------------------------------------------------
Bioject Medical Technologies Inc. filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q
reporting net income of $273,568 on $2.39 million of revenue for
the three months ended June 30, 2011, compared with a net loss of
$556,074 on $1.15 million of revenue for the same period during
the prior year.

The Company also reported net income of $117,957 on $4.13 million
of revenue for the six months ended June 30, 2011, compared with a
net loss of $1.09 million on $2.34 million of revenue for the same
period during the prior year.

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.

The Company's balance sheet at June 30, 2011, showed $4.88 million
in total assets, $4.27 million in total liabilities, and
$611,876 in total shareholders' equity.

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.

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

                        http://is.gd/eq6xMR

                       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.


BIOLIFE SOLUTIONS: Incurs $436,000 Net Loss in Second Quarter
-------------------------------------------------------------
Biolife Solutions, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $436,679 on $622,848 of total revenue for the three
months ended June 30, 2011, compared with a net loss of $537,144
on $467,771 of total revenue for the same period a year ago.

The Company also reported a net loss of $1.06 million
$1.23 million of total revenue for the six months ended June 30,
2011, compared with a net loss of $1.06 million on $980,680 of
total revenue for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $1.47 million
in total assets, $11.95 million in total liabilities, and a
$10.48 million total stockholders' deficiency.

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 $53 million at June 30, 2011.
This raises substantial doubt about the Company's ability to
continue as a going concern.

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.

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

                        http://is.gd/wMArer

                      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.


BIONOL CLEARFIELD: Getty Petroleum Ordered to Pay $230 Million
--------------------------------------------------------------
Bibeka Shrestha at Bankruptcy Law360 reports that an arbitration
panel has ordered Getty Petroleum Marketing Inc. to pay
$230 million to Bionol Clearfield LLC in a fight over a contract
that required Getty to buy ethanol from the now-bankrupt
Massachusetts company, Bionol's attorneys said Tuesday.

According to Law360, the dispute centers on a 2007 agreement that
obligated Getty to pay for practically all of the ethanol produced
at Bionol's Clearfield County, Pa., plant for its first five years
of operation, according to Bionol attorney Anthony Bongiorno of
McDermott Will & Emery LLP.

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


BORDERS GROUP: Court OKs Revised HarrisPort Termination Pact
------------------------------------------------------------
Bankruptcy Judge Martin Glenn authorized Borders, Inc. to enter
into a termination agreement, as amended, with HarrisPort
Associates to perform all obligations and to terminate a lease
referred to as the "Harrisburg Lease."  Pursuant to the revised
Termination Agreement, the Landlord will pay Borders $482,000,
instead of $450,000, as termination fee.

The Official Committee of Unsecured Creditors fully supports the
Debtors' entry into the Revised Termination Agreement and agrees
that it represents the highest and best means to maximize
recovery for the Harrisburg Lease, according to a notice filed
with the Court.

The Debtors are released from any and all claims that the
Landlord holds or may hold arising in any manner out of or in
connection with the Harrisburg Lease, related premises and
promissory note, transaction documents or termination of the
Harrisburg Lease.

Upon confirmation of indefeasible receipt by Borders of a
$482,000 termination fee, the Landlord is released from any and
all claims the Debtors and their estates may hold arising in
connection with the Harrisburg Lease, the Harrisburg Premises,
the Promissory Note, related transaction documents or termination
of the Harrisburg Lease.

All objections to the HarrisPort Motion that have not been
withdrawn, waived, settled, or addressed in the order, and all
reservations of rights, are overruled in all respects and denied,
Judge Glenn ruled.

A full-text copy of the revised Termination Agreement is
available for free at:

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

                       About Borders Group

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

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

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

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

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

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

Borders Group is closing 399 stores.  Borders selected proposals
by Hilco and Gordon Brothers to conduct going out of business
sales for all stores after no going concern offers of higher value
were submitted by the deadline.

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


BORDERS GROUP: Wins Approval of A/R, et al., Termination Pacts
--------------------------------------------------------------
Borders Group Inc. and its affiliates sought and obtained
permission from the Court to enter into separate lease termination
agreements with A/R Retail, LLC, and The Port of Seattle.

In March 2003, the Debtors and A/R Retail entered into a lease
agreement covering approximately 26,000 square feet of retail
space in the shopping center commonly known as The Shops at
Columbus Circle, located in New York, identified as Tenant's
Store No. 592.

In March 2004, the Debtors and The Port of Seattle entered a
Lease and Concession Agreement, covering approximately 3,417
square feet of retail space in the Seattle-Tacoma International
Airport.  In May 2006, the Debtors and The Port of Seattle
entered into an Office/Storage Lease Rider to the Concession
Agreement, relating to certain office or stage space located
within the Main Terminal of the Airport, identified as Tenant's
Store No. 756.  With respect to Store 756, the Debtors' store
closing sale has concluded.  With respect to Store 592, the
Debtors and A/R Retail have agreed, upon approval of the Store
592 Lease Termination Agreement, to allow the Debtors to continue
conducting the liquidation sales for an additional month beyond
the statutory assumption/rejection deadline.

In August 2011, the Debtors and A/R Retail entered into a Lease
Termination Agreement pursuant to which, among other things, the
Debtors and A/R Retail agreed to exchange mutual releases and
terminate the Store 592 Lease, and A/R Retail agreed to pay the
Debtors $1,250,000.  The Debtors and The Port of Seattle entered
into a Lease Termination Agreement pursuant to which, among other
things, the Debtors and the Port of Seattle agreed to exchange
mutual releases and terminate the Store 756 Lease, and The Port
of Seattle agreed to pay the Debtors $70,000.

Full-text copies of the Lease Termination Agreements are
available for free at:

  http://bankrupt.com/misc/Borders_PortofSeattleTermAgr.pdf
  http://bankrupt.com/misc/Borders_ARTermAgr.pdf

Andrew K. Glenn, Esq., at Kasowitz, Benson, Torres & Friedman
LLP, in New York, asserts that by consensually terminating the
Leases, the Debtors will receive over $1.3 million collectively,
and will no longer be obligated to pay the rent obligations or
other obligations due under the Leases, which rent obligations,
over the course of the remaining term of the Leases, would total
millions of dollars.  It also ensures that the Debtors receive
financial benefits from the disposition of these Leases as
opposed to an unknown outcome if they were to remain in the
Debtors' proposed lease auction process, he says.

To avoid any additional administrative expense and given
that the Store 756 Lease Termination Agreement requires waiver
of  the 14-day stay under Rule 6004(h) of the Federal Rules of
Bankruptcy Procedure, the Debtors ask the Court that any order
approving the Motion be effective immediately.

In support of the Lease Termination Agreement for Store No. 756,
Deanna Zachrisson, manager of the Concessions Business Group of
Seattle Tacoma International Airport, recommends to the Port of
Seattle Commission that the Port purchase the Lease from Borders
because the action would give the Port the opportunity to place
a new, ideally locally-owned bookstore in the premises and allows
the Port to reopen the store as soon as possible.

Judge Glenn further ruled that the transactions contemplated
in the Agreements will be free and clear of all liens, claims,
encumbrances and interests, provided, however, that pursuant to
the Order Approving Agency Agreement, (a) prior to the Over
Payment Collateral Release Date as defined in the GOB Order, the
Debtors will deposit the Cash Consideration into a segregated
account with the Agent and the Agent's liens on proceeds of the
Lease granted pursuant to the GOB Order and the Agency Agreement
will attach to the cash considerations in the same priority,
validity and extent that they encumbered the collateral; and (b)
upon the Over Payment Collateral Release Date, the Agent's liens
on the Cash Consideration will be deemed automatically released
and the Agent will immediately disburse the Cash Consideration to
the Debtors.

After entry of these orders and the occurrence of the Termination
Date under the Agreements, the Lease will no longer be subject to
the Debtors' lease auction process, Judge Glenn added.

                       About Borders Group

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

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

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

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

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

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

Borders Group is closing 399 stores.  Borders selected proposals
by Hilco and Gordon Brothers to conduct going out of business
sales for all stores after no going concern offers of higher value
were submitted by the deadline.

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


BORDERS GROUP: Seattle's Best License Pact Rejection Effective
--------------------------------------------------------------
Borders Group Inc. and its affiliates filed with the bankruptcy
court a notice of the effective date of rejection of Master
Licensing Agreement with Seattle's Best Coffee, LLC.

Pursuant to the rejection order dated June 3, 2011, the Debtors'
rejection of the Agreement is approved, effective as of the date
the Debtors complete de-branding all of their SBC stores and file
a notice with the Court advising parties of the de-branding;
provided however that the effective date will occur on or before
July 31, 2011.

Accordingly, the Effective Date of the rejection of the Agreement
occurred around July 22, 2011, the Debtors noted.

                       About Borders Group

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

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

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

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

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

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

Borders Group is closing 399 stores.  Borders selected proposals
by Hilco and Gordon Brothers to conduct going out of business
sales for all stores after no going concern offers of higher value
were submitted by the deadline.

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


BUFFETS HOLDINGS: Court Rules on Dispute With Franchise Tax Board
-----------------------------------------------------------------
In the case styled, Buffets, Inc., Hometown Buffet, Inc., OCB
Restaurant Company, LLC, OCB Purchasing Co., Tahoe Joe's, Inc.,
OCB Leasing Company, LLC, v. California Franchise Tax Board, Adv.
Proc. No. 09-50894 (Bankr. D. Del.), these issues were presented
by summary judgment motions before the Court: (1) whether the
Franchise Tax Board, an agency of the state of California, used an
appropriate method to apportion the share of the Debtors' unitary
business income that is taxable to California when calculating its
amended claims and (2) whether the Debtors qualified for the
Manufacturers' Investment Credit.  In an Aug. 15, 2011 Opinion,
Bankruptcy Judge Mary F. Walrath held that the FTB has established
that application of the standard formula does not fairly represent
the extent of the Debtors' California business activity.  The
Court further found that the FTB has proven that its proposed
alternative apportionment formula is reasonable.  Therefore, the
Court concluded that the FTB used an appropriate method to
apportion the share of the Debtors' unitary business income that
is taxable to California when calculating its amended claims.
The Court, however, concluded that the Debtors were engaged in a
line of business covered by California. Cal. Rev. & Tax. Code
section 23649 and therefore may claim the MIC Credit during the
MIC Years.  A copy of the Court's decision is available at
http://is.gd/7PMaBYfrom Leagle.com.

                      About Buffets Holdings

Headquartered in Eagan, Minnesota, Buffets Holdings Inc. --
http://www.buffet.com/-- through operating company subsidiaries,
owned and operated the largest chain of family buffet restaurants
in the United States.  The restaurants included HomeTown Buffet,
Old Country Buffet, Roadhouse Grille, and Tahoe Joe's.

Buffets and all of its subsidiaries filed Chapter 11 protection
(Bankr. D. Del. Case Nos. 08-10141 to 08-10158) on Jan. 22, 2008.
Joseph M. Barry, Esq., M. Blake Cleary, Esq., and Pauline K.
Morgan, Esq., at Young Conaway Stargatt & Taylor LLP, represented
the Debtors in their restructuring efforts.  The Debtors selected
Epiq Bankruptcy Solutions LLC as claims and balloting agent.  The
U.S. Trustee for Region 3 appointed seven creditors to serve on an
Official Committee of Unsecured Creditors.  The Committee selected
Otterbourg Steindler Houston & Rosen PC and Pachulski Stang Ziehl
Young & Jones as counsel.

Buffets emerged from Bankruptcy in April 2009.  In connection with
its Chapter 11 plan, Buffets obtained a $117.5 million in new
first lien exit financing from various lenders.  This financing
was in addition to a $139.8 million in second lien rollover
financing remaining from the pre-petition lenders.

                           *     *     *

As reported by the Troubled Company Reporter on July 6, 2011,
Standard & Poor's Ratings Services lowered its corporate credit
rating on Buffets Inc. to 'CCC' from 'B-'.  The rating outlook is
negative.  S&P also lowered its issue-level rating on the
company's first-lien term loan to 'CCC' from 'B-' and expect 50%
to 70% recovery for lenders in the event of a payment default.

"The rating actions reflect our view that weak EBITDA levels could
likely trigger a financial covenant violation over the next
several quarters. While Buffets has the ability to reduce debt
with existing cash to prevent a compliance issue in the near term,
cash balances would be reduced and liquidity would tighten given
that the company does not have a revolving credit facility," S&P
said.


CAMP COOLEY: Taps Assiter & Associates to Auction Personal Assets
-----------------------------------------------------------------
Camp Cooley Ltd. asks the U.S. Bankruptcy Court for the Western
District of Texas for permission to employ Assiter & Associates
LLC to provide services related to the auction of the Debtor's
personal property.

The Debtor's assets consist primarily of 10,629 acres of improved
ranch land located in Franklin, Robertson County, Texas, together
with interests in minerals there under.  The Debtor also owned
personal property including, but not limited to furniture, tools,
equipment, vehicles, livestock, exotic game, cattle genetics and
related equipment, and other miscellaneous items of personal
property.

The firm will receive a fee equal to 10% of all personal property
sold at the auction.

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

                        About Camp Cooley

Franklin, Texas-based Camp Cooley Ltd. operates an agricultural
and farming business.  Camp Cooley is the entity resulting from
the merger of these entities effective Nov. 7, 2009: North CC
Pipeline, LLC; Birkel CCR GP LLC; CCR Royalty, Ltd.; Ultimate
Genetics, LLC; and Camp Cooley Genetics, LLC.

Camp Cooley filed for Chapter 11 bankruptcy protection (Bankr.
W.D. Tex. Case No. 09-61311) on Nov. 8, 2009.  In its schedules,
the Debtor disclosed $57,917,118 in assets and $28,138,421 in
liabilities.

Blake L. Beckham, Esq., at Beckham & Mandel, Esq., in Dallas; and
Debra L. Innocenti, Esq., Raymond W. Battaglia, Esq., and Robert
K. Sugg, Esq., at Oppenheimer Blend Harris & Tate, in San Antonio,
Tex., represent the Debtor as counsel.


CATASYS INC: Reports $2.9 Million Net Income in Second Quarter
--------------------------------------------------------------
Catasys, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, reporting net income
of $2.95 million on $63,000 of total revenues for the three months
ended June 30, 2011, compared with a net loss of $2.47 million on
$111,000 of total revenues for the same period a year ago.

The Company also reported net income of $1 million on $150,000 of
total revenues for the six months ended June 30, 2011, compared
with a net loss of $5.62 million on $234,000 of total revenues for
the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $3.48 million
in total assets, $4.13 million in total liabilities, and a
$652,000 total stockholders' deficit.

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

                        http://is.gd/bAmAep

                        About Hythiam, Inc.

Based in Los Angeles, Hythiam, Inc., n/k/a Catasys, Inc., is a
healthcare services management company, providing through its
Catasys(R) subsidiary specialized behavioral health management
services for substance abuse to health plans.

The Company reported a net loss of $19.99 million on $448,000 of
total revenues for the twelve months ended Dec. 31, 2010, compared
with a net loss of $9.15 million on $1.53 million of total
revenues during the prior year.

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 incurred
significant operating losses and negative cash flows from
operations during the year ended Dec. 31, 2010.


CDC PROPERTIES: Graham & Dunn Fees Guaranteed by Prium
------------------------------------------------------
CDC Properties I LLC filed an amended request to employ Graham &
Dunn PC as replacement bankruptcy counsel in the U.S. Bankruptcy
Court for the Western District of Washington.

The Debtor told the Court that, following its original
appointment, the firm has received a guaranty of a payment of its
fees in the case from the Prium Companies LLC.  By the amended
request, the Debtor disclosed the Prium guaranty and sough entry
of an order confirming the Court's prior order appointing the firm
as counsel.

As reported in the May 12, 2011 edition of the Troubled Company
Reporter on May 12, 2011, the Debtor sought authority from the
Court to employ Graham & Dunn PC as replacement bankruptcy
counsel.

The Debtor previously employed Timothy W. Dore, Esq., and Ryan
Swanson & Cleveland PLLC as counsel, however, the Ninth Circuit
appointed Mr. Dore as a bankruptcy judge for the Western District
of Washington.

As the Debtor's counsel, Graham & Dunn will:

   (a) provide legal advice with respect to the Debtor's powers
       and duties as debtor-in-possession in the continued
       operation of their business and management of its
       property;

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

   (c) represent the Debtor in carrying out its duties and
       exercising its powers under the Bankruptcy Code;

   (d) prepare on the Debtor's behalf all necessary applications,
       answers, orders, reports and other legal papers including,
       inter alia, any proposed plans of reorganization and
       accompanying disclosure statements to be filed by the
       Debtor;

   (e) if appropriate, negotiate with creditors concerning a plan
       of reorganization or liquidation), prepare the plan of
       reorganization, disclosure statement and related
       documents, and take the steps necessary to confirm and
       implement the plan of reorganization (or liquidation),
       including, if needed, negotiations for financing the plan;
       and

   (f) perform other legal services for the Debtor as may be
       necessary and appropriate in these proceedings.

The Debtor will pay Graham & Dunn on an hourly basis in accordance
with its ordinary and customary rates in addition to reimbursement
of necessary out-of-pocket expenses.

Mark D. Northrup, Esq., a member of Graham & Dunn, assures the
Court that his firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code.

Tacoma, Washington-based CDC Properties I, LLC, owns 10 commercial
buildings in Washington.  Most of the space in its buildings is
leased to the State of Washington and occupied by various of its
agencies.  CDC Properties filed for Chapter 11 bankruptcy
protection (Bankr. W.D. Wash. Case No. 11-41010) on Feb. 10, 2011.
Timothy W. Dore, Esq., at Ryan Swanson & Cleveland PLLC, serves as
the Debtor's general counsel.  The Debtor disclosed $47,304,590 in
total assets, and $75,714,502 in total liabilities as of the
Chapter 11 filing.


CENTRO NP: Fitch Puts 'CCC' Credit Ratings on Watch Evolving
------------------------------------------------------------
Fitch Ratings has placed the following credit ratings of Centro NP
LLC on Rating Watch Evolving:

Centro NP LLC:

  -- Issuer Default Rating (IDR) 'CCC';

  -- Senior unsecured notes 'CCC/RR4'.

The rating action is driven by Fitch's expectations of upcoming
changes to the credit profile of Centro NP LLC as a result of
pending financing and restructuring transactions subsequent to the
acquisition of the U.S. assets and platform of Centro Properties
Group, the ultimate parent of Centro NP LLC.

On June 28, 2011, BRE Retail Holdings Inc., an affiliate of
Blackstone Real Estate Partners VI L.P., announced that it had
closed the previously announced transaction to purchase the U.S.
assets and platform of Centro Properties Group and its managed
funds for approximately $9 billion.  Included in the sale were 585
community and neighborhood shopping centers and related retail
assets aggregating 92.1 million square feet across 39 states in
the U.S., as well as the company's U.S. property management
platform comprising 18 offices and approximately 600 employees.

Fitch notes that this transaction includes properties in addition
to that of Centro NP LLC and its joint venture interests, as
Centro NP LLC owned interests in 422 properties as of March 31,
2011 (compared with the 585 properties acquired by BRE Retail
Holdings Inc).

Fitch anticipates resolving the Rating Watch in the near term upon
the receipt of additional information regarding the structure and
credit profiles of Centro NP LLC and related entities.


CHRISTIAN BROTHERS': Court Approves Sperduto as Accountant
----------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
authorized the Christian Brothers' Institute and its debtor-
affiliates to employ Sperduto Spector & Company P.C. as its
accountants.

The firm will:

   a) audit the statement of position of the Debtor as at the year
      ended June 30, 2011, and

   b) audit the related statements of activities and cash flows
      the year ended June 30, 2011.

The fee for the services to be rendered by the firm is estimated
not to exceed $30,000, plus expenses.

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

The Christian Brothers' Institute and The Christian Brothers of
Ireland filed for Chapter 11 bankruptcy protection (Bankr.
S.D.N.Y. Case Nos. 11-22820 and 11-22821) on April 28, 2011.
Scott S. Markowitz, Esq., at Tarter Krinsky & Drogin LLP, serves
as the Debtors' bankruptcy counsel.  The Christian Brothers'
Institute disclosed assets of $63,418,267 and $8,484,853 in
liabilities.  CBOI estimated its assets at $500,000 to $1 million
and debts at $1 million to $10 million.


CIRCUIT CITY: Lawyers, Consumer Groups File Brief in 4th Cir. Case
------------------------------------------------------------------
The National Association of Consumer Bankruptcy Attorneys and the
National Association of Consumer Advocates on Aug. 2 filed amicus
curiae briefs in the appellate case, Gentry et al. v. Circuit City
Stores Inc. et al., No. 10-2418 (4th Cir.).  Chip Giambrone,
writing for Westlaw Journal Bankruptcy, reports that the
bankruptcy and consumer-law attorneys nationwide asked the federal
appeals court to clarify the discretion that bankruptcy judges
have when considering class proofs of claim.

According to the report, the groups said they "are not supporting
a particular side" in the case currently before the 4th U.S.
Circuit Court of Appeals.  Rather, the brief says, they are
offering legal authority and analysis in the event the appeals
court "decides to use this case to announce practice rules or
guidelines governing the handling of class proofs of claim in
bankruptcy."

The 4th Circuit is hearing an appeal from a bankruptcy court's
dismissal of class proofs of claim filed in Circuit City's Chapter
11 case.  According to Westlaw Journal Bankruptcy, the case arises
from four separate actions filed in 2002 in California state court
that sought overtime wages allegedly owed to Circuit City
employees.  The suits alleged Circuit City required the employees
to work overtime but misclassified their positions as exempt from
California's wage-and-hour overtime requirements.  The cases were
stayed after Circuit City filed for bankruptcy protection.

The four plaintiffs filed class proofs of claim on behalf of
themselves and all similarly situated workers.  After the claims
deadline passed, Circuit City filed objections, saying the four
plaintiffs were not authorized to pursue class proofs of claim.

The plaintiffs say the Bankruptcy Court denied their request to
conduct discovery to prove they had the authority to bring class
claims.  The court then ruled that the claims should proceed
individually rather than as a class.  It disallowed the class
claims as to all unnamed claimants and allowed the claims to
proceed on behalf of the four individuals only.  The District
Court affirmed the ruling on the plaintiffs' appeal.

On appeal to the 4th Circuit, the plaintiffs argued that by
disallowing the claims after the deadline passed, the Bankruptcy
Court "extinguished the rights of thousands of formerly employed
workers seeking hard-earned wages for work performed."  The
plaintiffs ask the appeals court to reverse the lower court
decisions and reinstate their class proofs of claim.

According to the report, NACBA and NACA said "there is virtual
agreement among those circuits that have considered the question
that class proofs of claim are permissible in bankruptcy
practice."  They further acknowledge that "the ultimate
determination whether to allow a class claim in a particular case
is a matter of bankruptcy court discretion."

The report says the 4th Circuit docket does not indicate when a
decision is expected.

                        About Circuit City

Headquartered in Richmond, Virginia, Circuit City Stores Inc.
(NYSE: CC) -- http://www.circuitcity.com/-- was a specialty
retailer of consumer electronics, home office products,
entertainment software and related services in the U.S. and
Canada.

Circuit City Stores together with 17 affiliates filed a voluntary
petition for relief under Chapter 11 of the Bankruptcy Code
(Bankr. E.D. Va. Lead Case No. 08-35653) on Nov. 10, 2008.
InterTAN Canada, Ltd., which runs Circuit City's Canadian
operations, also sought protection under the Companies' Creditors
Arrangement Act in Canada.

Gregg M. Galardi, Esq., and Ian S. Fredericks, Esq., at Skadden,
Arps, Slate, Meagher & Flom, LLP, are the Debtors' general
restructuring counsel.  Dion W. Hayes, Esq., and Douglas M. Foley,
Esq., at McGuireWoods LLP, are the Debtors' local counsel.  The
Debtors also tapped Kirkland & Ellis LLP as special financing
counsel; Wilmer, Cutler, Pickering, Hale and Dorr, LLP, as special
securities counsel; and FTI Consulting, Inc., and Rotschild Inc.
as financial advisors.  The Debtors' Canadian general
restructuring counsel is Osler, Hoskin & Harcourt LLP.  Kurtzman
Carson Consultants LLC is the Debtors' claims and voting agent.
The Debtors disclosed total assets of $3,400,080,000 and debts of
$2,323,328,000 as of August 31, 2008.

Circuit City has opted to liquidate its 721 stores.  It has
obtained the Bankruptcy Court's approval to pursue going-out-of-
business sales, and sell its store leases in Jan. 2009.

In May 2009, Systemax Inc., a multi-channel retailer of computers,
electronics, and industrial products, acquired certain assets,
including the name Circuit City, from the Debtors through a Court-
approved auction.


CITIZENS DEVELOPMENT: Cash Access Requires Sept. Plan Confirmation
------------------------------------------------------------------
The Hon. Laura Stuart Taylor of the U.S. Bankruptcy Court for the
Southern District of California approved stipulations authorizing
Citizens Development Corp., et al., to use the cash collateral of
California Credit Union, and D&A Semi-Annual Mortgage Fund III,
L.P.

The CCU stipulation provides that:

   -- CCU asserts security interest in, and all prepetition and
   postpetition rents from the real property commonly known as the
   Lake San Marcos Country Club; and the personal property and
   other rights used in connection therewith;

   -- the Debtors will use cash collateral to operate its business
   in the ordinary and usual course, as a consolidated entity;

   -- the Debtors will pay CCU monthly interest payments in the
   total sum of $5,000;

   -- as adequate protection of all of CCU's interests for the
   Debtor's use of cash collateral, the Debtor will grant CCU: (1)
   a replacement first priority lien and security interest in
   proceeds of all revenues generated by the operations of the
   Country Club (but not revenues generated by the LSM Hotel); and
   (2) a replacement first priority lien including, but not
   limited to, all of the Debtor's assets;

   -- the Debtor will propose a plan of reorganization and will be
  confirmed by Sept. 30, 2011, and CCU will actively support --
  the plan will provide at least for the following to CCU on
  account of CCU's claim:

   a) A new note in the principal sum of $4,500,000, secured by a
   first lien under a deed of trust and UCC financing statement
   covering the subject property and first lien on all assets.
   The parties envision that the plan will provide for easements
   for the benefit of the CC Parcels to extract, divert and
   transport water to the Country Club.  The deed of trust will
   contain provisions included in commercial deeds of trust.  The
   A Note will be guaranteed by Mathew C. Dinofia.

   b) new note in the approximate sum of $1,900,0001.  The B Note
   will be secured by a second lien under a deed of trust and UCC
   financing statement covering the subject property, and a second
   lien on all assets.  The Parties envision that the plan will
   provide for easements for the benefit of the CC Parcels to
   extract, divert and transport water to the CC Parcels.  The
   deed of trust will contain provisions customarily included in
   commercial deeds of trust.  The B Note will be all due and
   payable on Dec. 31, 2015, and will not bear interest until
   Dec. 31, 2015, and will bear interest at ten percent per annum
   after Dec. 31, 2015.

   c) All property taxes due and payable on the subject property
   on Dec. 10, 2010, will be paid on date of the Effective Date of
   the Plan, and all property taxes due and payable after the date
   the entry of an order granting the stipulation will be paid as
   they become due.

California Credit Union is represented by:

         Dennis J. Wickham, Esq.
         SELTZER CAPLAN MCMAHON VITEK
         A Law Corporation
         750 B Street, 2100 Symphony Towers
         San Diego, California 92101-8177
         Tel: (619) 685-3135
         Fax: (619) 702-6812
         Email: wickham@scmv.com

                    D&A Semi-Annual Stipulation

The Debtor's total principal and interest owed to D&A on the
Petition Date was approximately $1,572,025, which indebtedness was
secured by D&A's lien on and security in the real property
including all proceeds proceeds generated or received from the
sale, lease, transfer or other operation of the real property.

The stipulation provides that any plan will provide for the full
payment of the loan.  D&A will vote in favor of any plan proposed
by the Debtor or its affiliate.

As adequate protection of D&A's interest in the collateral, the
Debtor will make these payments:

   -- the delinquent real property tax payments on the real
   property to totaling $13,927;

   -- the first installment due in December 2010 for real
   property taxes for the tax year 2010-2011, amounting to $5,968;

   -- delinquent personal property tax payments, if any;

   -- the monthly interest payments;

   -- all real property and personal property tax payments as they
   become due in the future;

   -- replacement liens on all of the Debtor's and all of the
   estate's right, title and interest in and to, and all
   postpetition property.

   -- upon request by D&A, the Debtor will deliver to D&A copies
   of (a) any and all certificates of insurance; and (b) evidence
   of the Debtor's payment of premiums due and payable in respect
   of policies of insurance required under the D&A Modified loan
   documents.

                 About Citizens Development Corp.

San Marcos, California-based Citizens Development Corp., owns and
operates the Lake San Marcos Resort and Country Club located in
San Diego County.  The Company filed a voluntary petition for
relief under Chapter 11 (Bankr. S.D. Calif. Case No. 10-15142) on
Aug. 26, 2010.  Ron Bender, Esq., at Levene, Neale, Bender, Yoo
& Brill LLP, represents the Debtor.  The Debtor estimated its
assets and debts at $10 million to $50 million.

Chapter 11 petitions were also filed by affiliates LSM Executive
Course, LLC (Bankr. S.D. Calif. Case No. 10-07480), and LSM Hotel,
LLC (Bankr. S.D. Calif. Case No. 10-13024).


CITIZENS DEVELOPMENT: Plan Outline Hearing Continued Until Oct. 6
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of California
has continued until Oct. 6, 2011, at 2:00 p.m., the hearing to
consider adequacy of the disclosure statement explaining Citizens
Development Corp.'s Plan of Reorganization dated June 30, 2011.

The Debtor will begin soliciting votes on the Plan following
approval of the adequacy of the information in the Disclosure
Statement.

According to the Disclosure Statement, the funding for the Plan
will come from a $250,000 new value contribution to be made by LDG
Golf Marketing, LLC; the $200,000 cash received by the estate
pursuant to the Symphony Settlement Agreement; and the Debtor's
unrestricted cash on hand which is estimated to be $50,000.  The
amount of funding collectively equates to $500,000.

In exchange for the new value contribution, the new investor will
receive 100% of the equity interests in the Reorganized Debtor.
The new investor is a newly formed limited liability company (LDG
Golf Marketing LLC) whose managing member is Christopher DiNofia
(who is a family member of the Debtor's principal Matthew C.
DiNofia, and a creditor of the Debtor's estate).  The new investor
will be funded by Chris DiNofia and Matthew C. DiNofia.

Under the Plan, general unsecured creditors will receive on the
Plan Effective Date an estimated cash payment of $50,000 which
will be funded from the exit cash.  They will also be entitled to
a distribution from any recoveries minus expenses obtained from
any avoidance actions brought by the Debtor or the Reorganized
Debtor.

All of the existing equity interests will be cancelled.

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

                Objections of U.S. Trustee and D&A

Tiffany L. Carroll, Acting U.S. Trustee for Region 15, requested
that the Court deny approval of the Disclosure Statement relating
that, among other things:

   -- there must be a discussion of absolute priority rule and
   whether the absolute priority rule is violated or not in the
   Debtor's case;

   -- the Disclosure Statement must be revised to detail how
   default will be triggered for each class -- for the unsecured
   claims in Class 10, there is no discussion of how the default
   would be triggered; and

   -- the Disclosure Statement and Plan must both indicate that
   besides being current on the U.S. Trustee's fees as of the
   Effective Date of the Plan, the Debtor must pay quarterly fees
   as a first priority until the case is closed.

The U.S. Trustee noted that the status description is inaccurate
with respect to the monthly operating reports and the U.S. Trustee
fees.  The Debtor has not yet filed May and June monthly operating
reports.  The Debtor also has partial balance due and owing on the
US Trustee fees for the second quarter of 2011.

The U.S. Trustee is represented by:

         Haeji Hong, Esq.
         Trial attorney
         Office of the U.S. Trustee
         402 West Broadway, Suite 600 San Diego, CA 92101
         Tel: (619) 557-5013

Creditor D&A Semi-Annual Mortgage Fund III, L.P. objected to the
Debtor's Disclosure Statement to the extent that it does not
accurately describe the terms of the stipulation between the
Debtor and D&A regarding loan which were to be incorporated into
the Plan.

D&A Semi-Annual is represented by:

        Richard J. Pekin, Jr., Esq.
        FOX JOHNS LAZAR PEKIN & WEXLER
        A Profesional Corporation
        525 B Street, Suite 1500
        San Diego, CA 92101
        Tel: (619) 237-0011
        Fax: (619) 237-9717

                 About Citizens Development Corp.

San Marcos, California-based Citizens Development Corp., owns and
operates the Lake San Marcos Resort and Country Club located in
San Diego County.  The Company filed a voluntary petition for
relief under Chapter 11 (Bankr. S.D. Calif. Case No. 10-15142) on
August 26, 2010.  Ron Bender, Esq., at Levene, Neale, Bender, Yoo
& Brill LLP, represents the Debtor.  The Debtor estimated its
assets and debts at $10 million to $50 million.

Chapter 11 petitions were also filed by affiliates LSM Executive
Course, LLC (Bankr. S.D. Calif. Case No. 10-07480), and LSM Hotel,
LLC (Bankr. S.D. Calif. Case No. 10-13024).


COMPOSITE TECHNOLOGY: Completes Disposition of All Assets
---------------------------------------------------------
BankruptcyData.com reports that Composite Technology announced
that it had completed the disposition of substantially all of its
assets.

CTC Acquisition purchased all of the Company's operating assets,
excluding the following:

   i) residual operating cash at the date of closing,

  ii) certain claims under the Chapter 11 proceedings,

iii) $3,000,000 of cash retained in escrow pursuant to the
      DSME transaction dated September 2009 and

  iv) certain residual interests in subsidiaries located in
      Europe related to the former Dewind business.

The book value of the assets transferred totaled approximately
$9.2 million including all accounts receivables, inventories and
fixed assets, all of which approximated fair value.

In addition, CTC Acquisition acquired all the Company's
intellectual property, including patents, trademarks, copyrights,
brands and other intellectual property.

CTC Acquisition paid approximately $15.4 million for the assets in
the form of i) $1.0 million in cash, ii) $10.5 million in assumed
senior secured debt, fees and accrued interest, of which $4.0
million will be paid upon closing to the lender and $6.5 million
restructured under a 2-year senior secured note payable by CTC
Acquisition bearing 8% annual interest, iii) $2.6 million in
assumed executory contracts, iv) $1.0 million in employee-related
payroll and vacation accrual liabilities and v) up to $0.3 million
of additional payment for premiums on product warranty insurance
policies.

The Court approved this sale on August 11, 2011.

Separately, the Company also announced that Messrs. Benton H
Wilcoxon, Domonic J. Carney, Marvin Sepe and Stewart Ramsay
tendered their resignations for the positions of chief executive
officer, chief financial officer & chief accounting officer, chief
operating officer and president of CTC Cable respectively.

                   About Composite Technology

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

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

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

The cases are jointly administered, with Composite Technology as
the lead case.  Paul J. Couchot, Esq., at Winthrop Couchot PC,
serves as the Debtors' bankruptcy counsel.  The McIntosh Group and
Marsch Fischman & Breyfogle LLP serve as special intellectual
property counsel.  The Debtors' professionals include LKP Global
Law, LLP, as special corporate and securities counsel; Mentor
Group Inc. as their valuation advisor; SingerLewak LLP as
accountants and auditors; and BCC Advisory Services LLC, BCC
Ho1dco LLC's FINRA registered Broker/Dealer, as investment banker.

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


COMPREHENSIVE CARE: Incurs $3.97-Mil. Net Loss in Second Quarter
----------------------------------------------------------------
Comprehensive Care Corp. filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $3.97 million on $18.55 million of total revenues for
the three months ended June 30, 2011, compared with a net loss of
$2.70 million on $5.65 million million of total revenues for the
same period a year ago.

The Company also reported a net loss of $3.93 million on
$36.84 million of total revenues for the six months ended June 30,
2011, compared with a net loss of $4.94 million on $9.44 million
of total revenues for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed
$15.14 million in total assets, $25.09 million in total
liabilities, and a $9.95 million total stockholders' deficit.

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

                        http://is.gd/QApYtU

                      About Comprehensive Care

Tampa, Fla.-based Comprehensive Care Corporation provides managed
care services in the behavioral health, substance abuse, and
psychotropic pharmacy management fields.

Mayer Hoffman McCann P.C., in Clearwater, Fla., expressed
substantial doubt about the Company's ability to continue as a
going concern.  The independent auditors noted that the Company
has suffered recurring losses from operations and has not
generated sufficient cash flows from operations to fund its
working capital requirements.

The Company reported a net loss of $10.4 million on $35.2 million
of revenues for 2010, compared with a net loss of $18.9 million on
$14.2 million of revenues for 2009.


COMSTOCK MINING: Files Form 10-Q, Incurs $4.7-Mil. Q2 Net Loss
--------------------------------------------------------------
Comstock Mining Inc. filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q reporting a net loss
of $4.74 million on $120,175 of hotel revenue for the three months
ended June 30, 2011, compared with a net loss of $3.92 million on
$0 of hotel revenue for the same period during the prior year.

The Company also reported a net loss of $7.13 million on $120,175
of total hotel revenue for the six months ended June 30, 2011,
compared with a net loss of $6.55 million on $0 of hotel revenue
for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed
$29.85 million in total assets, $11.33 million in total
liabilities, and $18.51 million in total stockholders' equity.

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

                        http://is.gd/bpVLMC

                       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.


CONGRESSIONAL HOTEL: Legacy Hotel in Chapter 11
-----------------------------------------------
Carla Main at Bloomberg News reports that Congressional Hotel
Corp. filed for Chapter 11 protection (Bankr. D. Md. Case No.
11-26732) in Greenbelt, Maryland, citing assets and liabilities
each in the range of $10 million to $50 million.  Court files
indicate that the Rockville, Maryland-based hotel company does
business as the Legacy Hotel & Meeting Centre and was formerly
known as the Ramada Inn.  Congressional Hotel's largest unsecured
creditor is Mervis Diamond Corp. of Vienna, Virginia, owed $3.96
million.  A meeting of creditors is scheduled for Sept. 12.


CONGRESSIONAL HOTEL: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Congressional Hotel Corp.
          dba The Legacy Hotel & Meeting Centre; formerly DBA The
              Ramada Inn
        1775 Rockville Pike
        Rockville, MD 20850

Bankruptcy Case No.: 11-26732

Chapter 11 Petition Date: August 15, 2011

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

Judge: Thomas J. Catliota

Debtor's Counsel: James Greenan, Esq.
                  MCNAMEE, HOSEA, ET. AL.
                  6411 Ivy Lane, Suite 200
                  Greenbelt, MD 20770
                  Tel: (301) 441-2420
                  E-mail: jgreenan@mhlawyers.com

Scheduled Assets: $709,121

Scheduled Debts: $19,883,667

The petition was signed by Eric L. Siegel, vice president.

Debtor's List of 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Mervis Diamond Corporation         --                   $3,957,616
1900 Mervis Way
Vienna, VA 22182

Preferred Hotel Group Inc.         --                      $63,524
38999 Eagle Way
Chicago, IL 60678

US Foodservice Inc.                --                      $43,979
P.O. Box 7780-4021
Philadelphia, PA 19182

PEPCO                              Utility                 $43,723

KLNB, LLC                          --                      $34,840

Kimel Company, Inc.                --                      $34,840

Comptroller of Maryland            Sales & Use Tax         $22,992

Dobil Laboratories, Inc.           --                      $22,809

Montgomery County Taxing Authority Room Rental             $19,906
                                   Transient Tax

Mbox Communications LLC            --                      $18,992

Martin Seafood Company             --                      $11,009

Phillips Foods, Inc.               --                       $7,722

Belair Produce Co. Inc.            --                       $7,656

Guest Supply Inc.                  --                       $7,402

City of Rockville Finance Dept.    Hotel Rental Tax         $5,687

Conference & Visitors Bureau       --                       $5,610

Corporate Express                  --                       $4,935

Micros Systems Inc.                --                       $4,793

Bakery De France                   --                       $4,290

Washington Gas                     --                       $3,873


CONTESSA PREMIUM: Exclusive Plan Filing Period Extended to Oct. 26
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
has extended Contessa Premium Foods, Inc.'s exclusive period to
propose Chapter 11 plan and the period to solicit acceptances of
that plan until Oct. 26, 2011 and Dec. 26, 2011, respectively.

As reported in the TCR on July 21, 2011, the Debtor is negotiating
a global settlement with the Debtor's insiders and has begun the
claims resolution process to estimate the extent of proceeds that
will be available to distribute to creditors.  Based on the
progress made in resolving these issues, and the projected
distribution to creditors, the Debtor expects to formulate a
Chapter 11 plan or to seek the structured dismissal of this case.

The requested extension will provide the Debtor with the necessary
flexibility to resolve the case consensually and efficiently.

                     About Contessa Premium

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

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

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


CONTESSA PREMIUM: Time to Assume Office Lease Extended to Oct. 31
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
has extended the deadline for Contessa Premium Foods, Inc., to
assume or reject the Office Lease with Pacific Place Associates LP
through and including Oct. 31, 2011, pursuant to Section
365(d)(4)(B)(ii) of the Bankruptcy Code.

As reported in the TCR on July 21, 2011, Contessa Premium Foods,
Inc., consented to the extension of the limited license granted to
Contessa to occupy the premises through October 31, in exchange
for advance payment of rent under the office lease in the amount
of $180,539, and the waiver and release of any claim against
Pacific Place arising under section 547 of the Bankruptcy Code.

                     About Contessa Premium

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

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

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


CORNERSTONE BANCSHARES: Files Form 10-Q; Posts $141,000 Q2 Income
-----------------------------------------------------------------
Cornerstone Bancshares, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting
net income of $141,287 on $5.16 million of total interest income
for the three months ended June 30, 2011, compared with net income
of $18,145 on $6.73 million of total interest income for the same
period during the prior year.

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

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

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

                       http://is.gd/uLXzym

                  About Cornerstone Bancshares

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

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

                          Consent Order

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

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

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


COUNTRYWIDE FINANCIAL: BofA Considered Placing Unit in Bankruptcy
-----------------------------------------------------------------
Dan Wilchins, writing for Reuters, reported that Brian Moynihan,
chief executive of Bank of America Corp., told investors at an
earnings conference call last week that the company considered
putting Countrywide mortgage assets into bankruptcy.

Reuters said Bruce Berkowitz, a major BofA investor, asked Mr.
Moynihan during the call on Wednesday, about the possibility of
its Countrywide unit filing for bankruptcy.

According to Reuters, Mr. Moynihan replied, "We thought of every
possible thing we could.  He said, "The path we've taken is the
best judgment for shareholders and this company."

Reuters noted that Mr. Moynihan is looking for ways to stabilize
BofA's falling stock price as worries grow that Countrywide has
become a bottomless money pit -- especially after a $10 billion
lawsuit filed by American International Group Inc.

Reuters also reported that Kathy Patrick, Esq., a lawyer
representing Countrywide mortgage bond investors, said they have
considered the prospect of Countrywide being placed into
bankruptcy.

Countrywide Financial exists as a legal entity and still has some
debt.  According to Reuters, research firm Covenant Review said a
bankruptcy likely would not trigger a default on other Bank of
America obligations.  But lawyers said such a move would be
difficult because Countrywide is not wholly separate from Bank of
America.  Its assets were mingled with the bank's assets, and
bankruptcy courts typically frown on efforts to shovel assets into
entities expected to fail in the near term.

According to Reuters, Chester Salomon, a lawyer at Becker, Glynn,
Melamed & Muffly in New York, said, "Historically, when
transactions take place where you set up an entity that is unable
to make good on its obligations, that's a hard case to win."

Steven M. Davidoff, writing as The Deal Professor, a commentator
for The New York Times' DealBook, said the real issue around BofA
is not whether it survives, but whether it sacrifices Countrywide
to save itself.  He also said BofA turned Countrywide into a shell
with assets of $34.46 billion, part of it in the form of loans
from BofA.  Once settlements on lawsuits against Countrywide
exceed this amount, Countrywide is out of money.

Mr. Davidoff explained the best strategy for BofA would appear to
be to throw the old Countrywide into bankruptcy.  But he noted
that anyone with claims against Countrywide could argue that BofA
fraudulently transferred out Countrywide's assets; or that BofA
should be liable for Countrywide's debts because of the transfers.

The AIG complaint against BofA makes a similar claim, arguing that
BofA is a successor in interest to Countrywide by virtue of these
transfers.

According to Mr. Davidoff, BofA's lawyers are likely poring over
these transfers and assessing any liability in anticipation of
just such a bankruptcy filing.  "The bottom line is that, unless
Bank of America's lawyers really messed up the transfers, Bank of
America is far from insolvency itself, having the option of
cordoning off this liability to a large extent through a
bankruptcy filing.  If nothing else, a Countrywide bankruptcy
would tie this up in litigation for years if not a decades," Mr.
Davidoff wrote.

Based in Calabasas, California, Countrywide Financial Corporation
(NYSE: CFC) -- http://www.countrywide.com/-- originated,
purchased, securitized, sold, and serviced residential and
commercial loans.

In mid-2008, Bank of America completed its purchase of Countrywide
for $2.5 billion.  The mortgage lender was originally priced at
$4 billion, but the purchase price eventually was whittled down to
$2.5 billion based on BofA's stock prices that fell over 40% since
the time it agreed to buy the ailing lender.


COVINA PALMS: Files for Chapter 11 Bankruptcy California
--------------------------------------------------------
Carla Main at Bloomberg News reports that Covina Palms Center LLC,
a single-asset real estate company, filed for Chapter 11
bankruptcy protection (Bankr. C.D. Calif. Case No. 11-bk-44683)
Aug. 16 in Los Angeles declaring assets of as much as $50,000 and
liabilities of as much as $50 million.  The Los Angeles-based
company listed among its largest unsecured creditors FH Partners
LLC, owed $12.4 million, and Foxmen Investments, owed $217,434.


DEEP DOWN: Incurs $46,000 Net Loss in Second Quarter
----------------------------------------------------
Deep Down, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, reporting a net loss
of $46,000 on $7.09 million of revenue for the three months ended
June 30, 2011, compared with a net loss of $492,000 on
$9.55 million of revenue for the same period during the prior
year.

The Company also reported a net loss of $1.80 million on
$13.37 million of revenue for the six months ended June 30, 2011,
compared with a net loss of $2.99 million on $15.82 million of
revenue for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed
$29.30 million in total assets, $8.68 million in total
liabilities, and $20.62 million in total stockholders' equity.

Ronald E. Smith, chief executive officer stated, "We are thrilled
to be able to report $156 thousand of net income before equity in
joint venture operations for the second quarter of 2011, our main
focus, in addition to successfully executing our projects and
managing our cash, has been to return to profitability.  This
quarter's results demonstrate we have turned the corner and are
heading in the right direction."

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

                        http://is.gd/NHKPRE

                          About Deep Down

Houston, Tex.-based Deep Down, Inc. --
http://www.deepdowncorp.com/-- is an oilfield services company
specializing in complex deepwater and ultra-deepwater oil
production distribution system support services, serving the
worldwide offshore exploration and production industry.

The Company reported a net loss of $17.41 million on
$42.47 million of revenue for the year ended Dec. 31, 2010,
compared with a net loss of $16.78 million on $28.81 million of
revenue during the prior year.

During the Company's fiscal years ended Dec. 31, 2010 and 2009,
the Company has supplemented the financing of its capital needs
through a combination of debt and equity financings.  Most
significant in this regard has been the Company's debt facility
the Company has maintained with Whitney National Bank.  The
Company's loans outstanding under the Amended and Restated Credit
Agreement with Whitney become due on April 15, 2012.  The Company
will need to raise additional debt or equity capital or
renegotiate the existing debt prior to such date.  The Company is
currently in discussions with several lenders who have expressed
interest in refinancing its debt.  The Company's plan is to
refinance the outstanding indebtedness under the Restated Credit
Agreement or seek terms with Whitney that will provide an
extension of such Restated Credit Agreement along with additional
liquidity.  However, the Company cannot provide any assurance that
any financing will be available to it on acceptable terms or at
all.  If the Company is unable to raise additional capital or
renegotiate its existing debt, this would have a material adverse
impact on the Company's business or would raise substantial doubt
about its ability to continue as a going concern.  In addition, as
of Dec. 31, 2010, the Company was not in compliance with the
financial covenants under the Restated Credit Agreement.  On
March 25, 2011 the Company obtained a waiver for these covenants
as of Dec. 31, 2010.


DISPOSAL SERVICES: Moody's Says Price Discipline May Be Eroding
---------------------------------------------------------------
The waste sector's historical pricing discipline may be breaking
down as operators struggle with inflation and a sluggish recovery,
according to a new report from Moody's Investors Service. However,
some companies are better positioned than others to address these
challenges.

"Waste volumes have eroded for public waste companies as elevated
unemployment rates and depressed construction activity weighs on
the industry," notes Bruce Herskovics, a Moody's assistant vice
president. "Commercial, residential and industrial segments have
all shown stubborn softness but not all rated companies are
equally exposed to the slowdown."

Larger public companies including Waste Management Inc. (Baa3,
positive) and Republic Services Inc. (Baa3, positive) are
insulated thanks to their outstanding scale and generous cash flow
generation, notes the report. But smaller companies such as
Casella Waste Systems Inc.(B2, stable) and Advanced Disposal
Services Inc. (Ba3, stable) could see their ratings affected.

The report says core prices are not rising as much as they did
during the downturn, and recent price trends are out of step with
inflation as cuts offset contracted inflation-based price
escalators. In addition, municipalities are pushing back at price
increases while competitors move more aggressively to win more
volume from incumbent waste haulers including granting price
discounts.

However, Moody's observes some mitigating factors that may support
ratings for the waste companies. While pricing is under pressure,
it has continued to increase. In addition, 2011 inflation trends
might augur for better yields in 2012, as lagging inflation-based
price escalator clauses catch up with the CPI. Moderating waste
volume declines will also ease pressure going forward.


EAGLES CREST: Bank of the West Wants Changes to Plan
----------------------------------------------------
Secured creditor Bank of the West asks the U.S. Bankruptcy Court
for the Southern District of Iowa to deny the confirmation of the
Plan of Reorganization proposed by Eagles Crest Leasing Group 1,
LLC.

The lender, which has claims in excess of $12 million, said it is
in talks with the Debtor regarding a revision to the Debtor's
Plan.  The lender proposes additional terms, conditions and
provisions to the Debtor's Plan, among other things:

   1. Term of Repayment.  The Debtor has proposed a Repayment Term
   on the Modified Promissory Note of 15 years.  The lender would
   suggest that a five year term is more consistent with current
   market standards for real estate properties of a similar type
   and status as the asset of the Debtor.

   2. Interest Rate.  The Debtor has asserted an Interest Rate of
   4.25% per annum on a fixed rate basis.  The lender requested
   that a rate of 4.54% is more market for the risk involved by
   lender.

   3. Attorney's Fees & Attorney Fee Note.  The Debtor proposed
   the alternative of either capitalizing all post petition
   attorney's fees and costs, if approved by the Court.  The
   lender would urge that postpetition attorney's fees and costs
   be capitalized and added to the outstanding principal balance
   of the Modified Promissory Note.

As reported in the Troubled Company Reporter on June 29, 2011, the
Debtor has proposed a plan under which Bank of the West's secured
claim will be paid in full in regular monthly payments.  General
Unsecured Creditors will be paid in full in two payments, 12
months and 18 months after the Effective Date of the Plan.
Holders of subordinated unsecured claims of insiders will receive
no dividends.  Holders of equity Interests will retain their
interests in the Debtor.

A copy of the Disclosure Statement is available at:

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

Bank of the West is represented by:

         Thomas H. Burke, Esq.
         WHITFIELD & EDDY, P.L.C.
         317 Sixth Avenue, Suite 1200
         Des Moines, Iowa 50309-4195
         Tel: (515) 288-6041
         Fax: (515) 246-1474
         E-mail: burke@whitfieldlaw.com

                        About Eagles Crest

Coralville, Iowa-based Eagles Crest Leasing Group 1, LLC, is a
single asset, single purpose Iowa limited liability company formed
to develop, construct, own, and operate a 167-unit residential
apartment complex since completion of construction.  The Company
filed for Chapter 11 bankruptcy protection (Bankr. S.D. Iowa Case
No. 10-06103) on Dec. 27, 2010.  Donald F. Neiman, Esq., and
Jeffrey D. Goetz, Esq., at Bradshaw, Fowler, Proctor & Fairgrave,
P.C., in Des Moines, Iowa, serve as the Debtor's bankruptcy
counsel.  The Debtor disclosed 12,778,480 in assets and 11,755,325
in  liabilities as of the Chapter 11 filing.

Habbo G. Fokkena, the U.S. Trustee for Region 12, was unable to
appoint a committee of unsecured creditors in the Debtor's case.


EAST COAST: Combined Hearing on Reorganization Plan on Oct. 17
--------------------------------------------------------------
On Aug. 9, 2011, the U.S. Bankruptcy Court for the Eastern
District of North Carolina conditionally approved the disclosure
statement describing East Coast Development II, LLC's Plan of
Reorganization which was filed on Aug. 5, 2011.

The Court fixed Oct. 11, 2011, as the deadline for filing and
serving written objections to the disclosure statement.  If no
objections or requests to modify the disclosure statement are
filed, the conditional approval of the disclosure statement will
become final.  Any objections to or requests to modify the
disclosure statement will be considered at the confirmation
hearing, which is scheduled for Oct. 17, 2011.

The Court also fixed Oct. 11, 2011, as the last day for filing
written acceptances or rejections of the plan.

Written objections to confirmation must be filed no later than
Oct. 11, 2011.

The Plan designates 11 Classes of Claims and Interests:

Class 1  - Administrative Costs               Impaired
Class 2  - Ad Valorem Taxes                   Unimpaired
Class 3  - Tax Claims                         Unimpaired
Class 4  - Branch Banking and Trust Company   Impaired
Class 5  - Ciena Capital                      Impaired
Class 6  - First Bank                         Impaired
Class 7  - Georgia Capital                    Impaired
Class 8  - Wells Fargo Bank                   Impaired
Class 9  - Executory Contracts
             - Contracts Assumed              Unimpaired
             - Contracts Rejected             Impaired
Class 10 - General Unsecured Claims           Impaired
Class 11 - Equity Security Holders            Unimpaired

Administrative costs and expenses in Class 1 will be paid in cash
and in full within 10 days from the Effective Date of the Plan.

Ad Valorem Taxes in Class 2 will be paid in full in quarterly
payments over a period of five years from the Petition Date.

The Debtor is aware of no claims in Class 3.  Unsecured priority
tax claims and secured tax claims, if any, will be paid in full in
quarterly installments over a period not exceeding five (5) years
from the Petition Date.

Secured Claimants in Classes 4, 5, 6, 7 and 8 will be paid over
time.  Please refer to the Plan for the method of payment for each
creditor belonging to Classes 4 through 8.

The approximate total of general unsecured claims and known
deficiency claims in Class 9 is $1,517,698.  Of this amount,
$359,932 is owed to James A. McFarland, Jr., $155,000 is disputed
(Cindy York, Esq.), and $208,825.13 is contingent (Ruth Mazurek),
leaving $793,940 in undisputed, non-insider unsecured claims.  The
Debtor will pay allowed general unsecured claims in full in
quarterly installments of $39,697, commencing the earlier of
January 15, April 15, July 15, or Oct. 15 following 60 days after
the Effective Date and will continue quarterly thereafter for five
(5) years.  All payments to this class will be distributed pro
rata.

James A. McFarland, Jr., the sole member of the Debtor will retain
his ownership interest upon confirmation of the Debtor's Plan.

The Debtor's Plan proposes to make payments under the Plan from
income earned through continued operations and periodic infusions
of cash to be contributed by James A. McFarland, Jr., in the
amounts and and on the dates as indicated below:

     Sept. 15, 2011         $150,000
     Oct. 15, 2011          $200,000
     Nov. 15, 2011        $1,000,000
     Dec. 15, 2011          $600,000

All real and personal property owned by the Debtor that will be
sold pursuant to this Plan will be sold free and clear of all
liens and encumbrances.  Liens on sold properties will attach to
the net proceeds of sale, which will be paid to lienholders in
accordance with the priorities of such liens, and then to other
creditors in accordance with the priorities of the Code.  All
secured creditors will have the right to purchase their collateral
via a credit bid.

A copy of the Disclosure Statement is available at:

         http://bankrupt.com/misc/eastcoastdevt.plan.pdf

A copy of the Plan is available at:

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

                  About East Coast Development II

Wilmington, North Carolina-based East Coast Development II, LLC,
dba 100 Block of Market Street, LLC, is in the business of renting
real property located in Onslow County, New Hanover County,
Guilford County, Wake County, Brunswick County, North Carolina,
and Greenville County, Charleston County, and Richland County,
South Carolina.

East Coast filed for Chapter 11 bankruptcy protection (Bankr. E.D.
N.C. Case No. 11-02792) on April 8, 2011.  Amy M. Currin, Esq.,
and Trawick H. Stubbs, Jr., Esq., at Stubbs & Perdue, P.A., serve
as bankruptcy counsel.  Laurie R. Brown, CPA, serves as
accountant.

Keith Saieed of Blue Sky Services Real Estate serves as broker for
the sale of the Debtor's properties.  The Debtor disclosed
$24,792,275 in assets and $12,172,815 in liabilities as of the
Chapter 11 filing.

The U.S. Trustee has not yet appointed a creditors committee in
the Debtor's case. The U.S. Trustee reserves the right to appoint
such a committee should interest developed among the creditors.


EDISON MISSION: Posts $32 Million Net Loss in Q1 Ended June 30
--------------------------------------------------------------
Edison Mission Energy and subsidiaries reported a net loss of
$32 million on $536 million of revenues for the three months ended
June 30, 2011, compared with a net loss of $17 million on
$493 million of revenues for the same period last year.

Operating loss increased $8 million (to $54 million) for the
second quarter ended June 30, 2011, compared to the corresponding
period of 2010.

Interest expense increased $14 million (to $80 million) for the
second quarter ended June 30, 2011, compared to the corresponding
period of 2010.

The Company and subsidiaries reported a net loss of $52 million on
$1.086 billion of revenues for the six months ended June 30, 2011,
compared with net income of $64 million on $1.144 billion of
revenues for the same period last year.

The Company's balance sheet at June 30, 2011, showed
$9.493 billion in total assets, $6.753 billion in total
liabilities, and stockholders' equity of $2.740 billion.

At June 30, 2011, EME, as a holding company, had cash and cash
equivalents of $237 million to meet liquidity needs as well as
$448 million of capacity under its credit facility.  EME's
subsidiary, EMMT, also had cash and cash equivalents of
$195 million at June 30, 2011, which can be loaned or distributed
to EME subject to applicable laws.  In addition, at June 30, 2011,
Midwest Generation had cash and cash equivalents of $254 million
to meet liquidity needs.

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

                       About Edison Mission

Santa Ana, California-based Edison Mission Energy is a holding
company whose subsidiaries and affiliates are engaged in the
business of developing, acquiring, owning or leasing, operating
and selling energy and capacity from independent power production
facilities.  EME also engages in hedging and energy trading
activities in power markets through its subsidiary Edison Mission
Marketing & Trading, Inc.

EME was formed in 1986 and is an indirect subsidiary of Edison
International.  Edison International also owns Southern California
Edison Company, one of the largest electric utilities in the
United States.

As of Dec. 31, 2010, EME's subsidiaries and affiliates owned or
leased interests in 39 operating projects with an aggregate net
physical capacity of 10,979 MW of which EME's pro rata share was
9,852 MW.  At Dec. 31, 2010, EME's subsidiaries and affiliates
also owned four wind projects under construction totaling 480 MW
of net generating capacity.

                          *     *     *

Credit ratings for EME, Midwest Generation and EMMT as of June 30,
2011 were as follows:

                  Moody's Rating     S&P Rating     Fitch Rating

EME                   Caa1             B-             CCC
(Senior Unsecured)

Midwest Generation     Ba3             B+             BB-
(First priority
senior secured)

EMMT                 Not Rated         B-             Not Rated


EMPIRE RESORTS: Reports $650,000 Net Income in Second Quarter
-------------------------------------------------------------
Empire Resorts, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, reporting net income
of $650,000 on $18.56 million of net revenues for the three months
ended June 30, 2011, compared with a net loss of $8.59 million on
$17.58 million of net revenues for the same period during the
prior year.

The Company also reported net income of $92,000 on $33.47 million
of net revenues for the six months ended June 30, 2011, compared
with a net loss of $10.83 million on $33.04 million of net
revenues for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed
$48.73 million in total assets, $24.22 million in total
liabilities, and $24.51 million in total stockholders' equity.

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

                        http://is.gd/QSmTg8

                        About Empire Resorts

Based in Monticello, New York, Empire Resorts, Inc. (NASDAQ: NYNY)
-- http://www.empireresorts.com/-- owns and operates Monticello
Casino & Raceway, a video gaming machine and harness racing track
and casino located in Monticello, New York, 90 miles northwest of
New York City.

Friedman 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.
Friedman noted that the Company's ability to continue as a going
concern depends on its ability to satisfy its indebtedness when
due.  In addition, the Company has continuing net losses and
negative cash flows from operating activities.

Empire Resorts reported a net loss of $17.57 million on
$68.54 million of net revenues for the year ended Dec. 31, 2010,
compared with a net loss of $10.57 million on $67.63 million of
net revenues during the prior year.


EOS PREFERRED: Reports $230,000 Net Income in Second Quarter
------------------------------------------------------------
EOS Preferred Corporation filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting
net income of $230,000 on $519,000 of revenue for the three months
ended June 30, 2011, compared with net income of $1.03 million on
$1.28 million of revenue for the same period during the prior
year.

The Company also reported net income of $1.68 million on
$2.23 million of revenue for the six months ended June 30, 2011,
compared with net income of $3.19 million on $3.72 million of
revenue for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed
$87.16 million in total assets, $206,000 in total liabilities and,
$86.95 million in total stockholders' equity.

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

                        http://is.gd/jHsK6p

                        About EOS Preferred

Based in New York, EOS Preferred Corporation (formerly Capital
Crossing Preferred Corporation) is a Massachusetts corporation
with the principal business objective to hold mortgage assets that
will generate net income for distribution to stockholders.  The
Company was organized on March 20, 1998, to acquire and hold real
estate assets and Aurora Bank FSB, an indirect wholly-owned
subsidiary of Lehman Brothers Holdings Inc., owns all of the
Company's common stock.  Effective June 21, 2010, the Company
changed its corporate name to EOS Preferred Corporation.

The Company operates in a manner intended to allow its to be taxed
as a real estate investment trust, or a "REIT," under the Internal
Revenue Code of 1986, as amended.  As a REIT, EOS will not be
required to pay federal or state income tax if it distributes its
earnings to its shareholders and continues to meet a number of
other requirements.

The Company reported net income of $7.65 million on $2.19 million
of total interest income for the year ended Dec. 31, 2010,
compared with a net loss of $12.82 million on $3.56 million of
total interest income during the prior year.

As reported by the TCR on April 6, 2011, Ernst & Young LLP, in New
York, expressed substantial doubt about the Company's ability to
continue as a going concern.  On Sept. 15, 2008, Lehman Brothers
Holdings Inc., indirect parent company to Aurora Bank FSB, and
ultimate parent company of EOS Preferred Corporation, filed a
voluntary petition under Chapter 11 of the U.S. Bankruptcy Code.
Aurora Bank, the sole owner of the common stock of EOS Preferred
Corporation, is subject to a Cease and Desist Order, dated Jan.
26, 2009, and a Prompt Corrective Action Directive, dated Feb. 4,
2009, issued by the Office of Thrift Supervision, requiring Aurora
Bank, among other matters, to submit a capital restoration plan
and a liquidity management plan, and imposing restrictions on
certain activities of Aurora Bank and EOS Preferred Corporation.
According to the independent auditors, the bankruptcy of Lehman
Brothers and the ability of the OTS to regulate and restrict the
business and operations of EOS Preferred Corporation, in light of
the Cease and Desist Order and the Prompt Corrective Action
Directive, raise substantial doubt about EOS Preferred
Corporation's ability to continue as a going concern.


EVERGREEN ENERGY: Reports $6.3-Mil. Net Income in Second Quarter
----------------------------------------------------------------
Evergreen Energy Inc. filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, reporting net income
of $6.35 million on $100,000 of total operating revenue for the
three months ended June 30, 2011, compared with a net loss of
$4.78 million on $103,000 of total operating revenue for the same
period a year ago.

The Company also reported a net loss of $4.98 million on $200,000
of total operating revenue for the six months ended June 30, 2011,
compared with a net loss of $13.02 million on $203,000 of total
operating revenue for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed
$24.54 million in total assets, $21.52 million in total
liabilities, $2,000 in preferred stock, and $3.02 million in total
stockholders' equity.

Ilyas Khan, executive chairman of Evergreen, stated: "Evergreen
has been undergoing a careful but steady transformation,
exemplified by our fulfillment of the corporate objectives set out
earlier in the year.  In addition to establishing Southern Coal
Holdings (SCH), our venture with WPG Resources, we have fully-
utilized capacity at our Fort Union test facility in Gillette,
Wyoming due to the strong commercial interest in our K-Fuel
technology."

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

                        http://is.gd/9RgSnc

                       About Evergreen Energy

Evergreen Energy Inc. has developed two, proprietary, patented,
and green technologies: the GreenCert(TM) suite of software and
services and K-Fuel(R).  GreenCert, which is owned exclusively by
Evergreen, is a science-based, scalable family of environmental
intelligence solutions that quantify process efficiency and
greenhouse gas emissions from energy, industrial and agricultural
sources and may be used to create verifiable emission reduction
credits.  K-Fuel technology significantly improves the performance
of low-rank coals, yielding higher efficiency and lowering
emissions.

The Company reported a net loss of $21.02 million on $403,000 of
total operating revenue for the year ended Dec. 31, 2010, compared
with a net loss of $58.53 million on $423,000 of total operating
revenue during the prior year.

Hein & Associates LLP, in Denver, Colo., expressed substantial
doubt about Evergreen Energy's ability to continue as a going
concern.  The independent auditors noted that the Company has
suffered recurring losses from operations and has had recurring
cash used in operations.


EVERGREEN SOLAR: Has Interim OK to Use 2015 Noteholders' Cash
-------------------------------------------------------------
Lawyers of Evergreen Solar Inc. appeared before Judge Mary F.
Walrath Wednesday morning in Wilmington, Delaware, to seek a court
order allowing the Debtor to use cash collateral securing its
obligations to the holders of five-year 13% convertible senior
secured notes due April 2015.

The lawyers said Evergreen Solar needs access to cash collateral
to pay operating expenses, including payroll, fund deposits, and
provide adequate assurance to utilities.  The lawyers said
Evergreen Solar currently lacks sufficient unencumbered funds with
which to operate its  business on an ongoing basis.

Evergreen Solar intends to sell its assets to a third party during
its Chapter 11 case.  The Debtor has filed a motion in court
seeking to establish a protocol that will govern the sale process.

U.S. Bank N.A. serves as indenture trustee.  Pre-bankruptcy,
Evergreen Solar used $82.4 million of the net proceeds of the 2015
notes to buy back $124.5 million of notes due 2013.  Evergreen
Solar used the remainder of the net proceeds for general corporate
purposes, working capital and capital expenditures in China.  The
2015 notes are secured by first priority liens on substantially
all of Evergreen Solar's assets, subject to certain exceptions.
As of the petition date, $165 million of the notes remains
outstanding.

Evergreen Solar's lawyers told the Court that certain 2015
noteholders have agreed to the Cash Collateral use.

The Debtor seeks to use Cash Collateral through Nov. 15, 2011,
unless extended pursuant to a restructuring support agreement with
the supporting noteholders.  The Cash Collateral use, however, is
subject to certain early termination events.

The Debtor proposes to provide adequate protection to the
noteholders for the use of Cash Collateral.  Among others, the
Debtor proposes to pay the reasonable fees and expenses incurred
by the professionals retained by the supporting noteholders and
the Indenture Trustee in the case.  The supporting noteholders
have hired Akin Gump Strauss Hauer & Feld LLP, and Morris,
Nichols, Arsht & Tunnell LLP, as counsel, and Duff & Phelps
Securities LLC as financial advisor.  The Indenture Trustee has
hired Maslon Edelman Borman & Brand, LLP as counsel.

In addition, the Debtor proposes to make an immediate cash payment
of $12.5 million and turn over sale proceeds to the noteholders
upon the closing of any asset sales.

The Debtor's lawyers said the noteholders' replacement liens will
be subject to a carve-out for (i) the unpaid fees of the Clerk of
the Bankruptcy Court and the U.S. Trustee pursuant to 28 U.S.C.
Sec. 1930(a)(6); (ii) fees in an amount not to exceed the Debtor
Professional Fee Cap of $8.2 million and the Committee
Professional Fee Cap of $50,000, less any amount already paid,
which are incurred prior to the Cash Collateral Termination Date;
and (iii) fees and expenses of the Debtor Professionals in an
aggregate amount not to exceed $500,000, which are incurred on and
after the Termination Date, provided such fees and expenses (in
the aggregate) are ultimately allowed by the Bankruptcy Court,
each subject to the rights of any party in interest to object to
the allowance of any such fees and expenses.

Up to $25,000 of Cash Collateral in the aggregate may be used to
pay the allowed fees and expenses of counsel retained by the
Committee incurred directly in connection with investigating, but
not preparing, initiating or prosecuting, any Claims and Defenses
against the Prepetition Secured Parties or with regard to the
Indenture Obligations or Prepetition Liens.

Any Committee appointed in the Debtor's case has 60 days upon
formation to challenge the amount, validity, enforceability, or
priority the noteholders' liens.

The Debtor has prepared a 13-week cash flow forecast, through the
week of Nov. 12.  The Debtor said it has a beginning cash balance
of $63,500,000 and expects to have an ending cash balance of
$48,918,000.

At the end of Wednesday's hearing, Judge Walrath issued a 37-page
order granting the Debtor's request.

The Debtor did not seek -- and is not authorized -- to use cash
collateral of Bank of America securing its exposure under a letter
of credit issued in favor of Avalon Risk Management Insurance
Agency LLC for the benefit of the sureties it represents, in the
face amount of $406,000.

The Court also held that the noteholders have the right to "credit
bid" the indenture obligations and the adequate protection liens
during any sale of the Collateral.

The Court will hold a final hearing on the Cash Collateral Motion
on Sept. 6, 2011, at 11:30 a.m.

                       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.

The Marlboro, Mass.-based Company filed for Chapter 11 bankruptcy
(Bankr. D. Del. Case No. 11-12590) on Aug. 15, 2011, before Judge
Mary F. Walrath.  The Company's balance sheet at April 2, 2011,
showed $373,972,000 in assets, $455,506,000 in total liabilities,
and a stockholders' deficit of $81,534,000.

The Debtors are represented by:

          Ronald J. Silverman, Esq.
          Scott K. Seamon, Esq.
          BINGHAM McCUTCHEN LLP
          399 Park Avenue
          New York, NY 10022-4689
          Tel: 212-705-7000
          Fax: 212-752-5378
          E-mail: ronald.silverman@bingham.com
                  scott.seamon@bingham.com

Laura Davis Jones, Esq., and Timothy P. Cairns, Esq., at Pachulski
Stang Ziehl & Jones LLP, serve as co-counsel.

The Debtor's financial advisors are:

          Timothy Hughes
          Alex Verba
          ZOLFO COOPER LLC
          1114 Avenue of the Americas, 41st Floor
          New York, NY 10036
          Tel: 212-561-4000
          Fax: 212-213-1749
          E-mail: dhughes@zolfocooper.eu
                  averba@zolfocooper.com

Epiq Bankruptcy Solutions serves as the Debtor's noticing and
claims agent.

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.  Pursuant to the RSA, the
supporting noteholders have agreed 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.

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.

U.S. Bank, the Indenture Trustee, is represented in the case by:

          Clark T. Whitmore, Esq.
          MASLON EDELMAN BORMAN & BRAND, LLP
          3300 Wells Fargo Center
          90 South Seventh Street
          Minneapolis, MN 55402-4140
          Telephone: (612) 672-8335
          E-mail: clark.whitmore@maslon.com

The Supporting Noteholders are represented by:

          Michael S. Stainer, Esq.
          Natalie E. Levine, Esq.
          AKIN GUMP STRAUSS HAUER & FELD LLP
          One Bryant Park
          Tel: 212-872-6745
          New York, NY 10036
          E-mail: mstamer@akingump.com
                  nlevine@akingump.com


EVERGREEN SOLAR: Court Okays Epiq as Claims & Noticing Agent
------------------------------------------------------------
Evergreen Solar Inc. estimates there will be roughly 2,600
creditors and other parties-in-interest who require notice of
various matters, and in particular, the deadline for filing proofs
of claim.  Additionally, many of these parties may file proofs of
claim and cast ballots with respect to a liquidating or other
plan.  The Debtor said the size of its creditor body makes it
impractical for the Clerk of the Bankruptcy Court to send notices
and to maintain a claims register and tabulate ballots.

Accordingly, Evergreen Solar sought and obtained permission from
the Bankruptcy Court to employ Epiq Bankruptcy Solutions, LLC, as
its noticing, claims and balloting agent.

Jason D. Horwitz, Vice President and Senior Consultant of Epiq,
attests that neither Epiq, nor any of its employees, represents
any interest materially adverse to the Debtor's estates with
respect to any matter upon which Epiq is to be engaged.  Epiq is a
"disinterested person," as that term is defined in section 101(14)
of the Bankruptcy Code.

Epiq's rates are:

                                           Hourly Rate Range
                                           -----------------
     Vice President (equivalent or above)      $295
     Senior Consultant                         $225 - $275
     Snr. Case, Manager/Consultant             $165 - $220
     IT Programming                            $140 - $190
     Case Manager                               $95 - $145
     Clerk                                      $40 -  $60

Prior to the Petition Date, Epiq received a $25,000 retainer.

                       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.

The Marlboro, Mass.-based Company filed for Chapter 11 bankruptcy
(Bankr. D. Del. Case No. 11-12590) on Aug. 15, 2011, before Judge
Mary F. Walrath.  The Company's balance sheet at April 2, 2011,
showed $373,972,000 in assets, $455,506,000 in total liabilities,
and a stockholders' deficit of $81,534,000.  The Debtors are
represented by lawyers at Bingham McCutchen LLP and Pachulski
Stang Ziehl & Jones LLP.  The Debtor's financial advisors are
Timothy Hughes and Alex Verba at Zolfo Cooper LLC.

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.  Pursuant to the RSA, the
supporting noteholders have agreed 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.

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.

U.S. Bank, the Indenture Trustee, is represented in the case by
Maslon Edelman Borman & Brand, LLP.  The Supporting Noteholders
are represented by Akin Gump Strauss Hauer & Feld LLP.


EVERGREEN SOLAR: Seeks Approval to Hold November Auction
--------------------------------------------------------
Dow Jones' DBR Small Cap reports that Evergreen Solar Inc. is
seeking bankruptcy-court permission to put its assets on the block
in November with a leading bid valued at $60 million, according to
newly filed court papers.

                       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.

Evergreen Solar voluntarily filed a petition for relief
under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case
No. 11-12590) on Aug. 15, 2011, estimating assets and debts of
$100 million to $500 million.

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.  The supporting noteholders
have agreed 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.

Laura Davis Jones, Esq., and Timothy P. Cairns, Esq., at Pachulski
Stang Ziehl & Jones LLP, serve as counsel to the Debtor.  Epiq
Bankruptcy Solutions is the claims and notice agent.


EVERGREEN SOLAR: Delays Filing of Quarterly Report on Form 10-Q
---------------------------------------------------------------
Evergreen Solar, Inc., has been in negotiations with the holders
of its 13% Convertible Senior Secured Notes due 2015 to
restructure its existing debt.  As a result of these negotiations,
the Company has been required to devote a substantial portion of
its personnel and administrative resources, including the
personnel and resources of its accounting and financial reporting
organization, to matters relating to the negotiations.

For these reasons, the Company has not been able to file its
Report on Form 10-Q for the quarter ended July 2, 2011, within the
prescribed time period. Management is diligently working to close
its books and records and prepare financial statements as soon as
possible with a target of filing the Quarterly Report within the
grace period prescribed by Rule 12b-25 under the Securities
Exchange Act of 1934, as amended.

                       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.

Evergreen Solar voluntarily filed a petition for relief
under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case
No. 11-12590) on Aug. 15, 2011, estimating assets and debts of
$100 million to $500 million.

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.  The supporting noteholders
have agreed 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.

Laura Davis Jones, Esq., and Timothy P. Cairns, Esq., at Pachulski
Stang Ziehl & Jones LLP, serve as counsel to the Debtor.  Epiq
Bankruptcy Solutions is the claims and notice agent.


FERTINITRO FINANCE: Fitch Keeps Junk Rating on $250 Million Bonds
-----------------------------------------------------------------
Fitch Ratings maintains the 'CCC' rating on FertiNitro Finance
Inc.'s (FertiNitro) US$250 million 8.29% secured bonds due 2020 on
Rating Watch Negative.  The 'CCC' rating reflects FertiNitro's
expected payment of $45.9 million in semi-annual debt service, due
Oct. 1, 2011.

Fitch maintains the Rating Watch Negative status as FertiNitro and
state-owned petrochemical company Pequiven continue to work with
relevant parties to reach agreement on the effects of the recent
expropriation of FertiNitro.  Fitch notes that FertiNitro has
stated that it intends to continue meeting its debt obligations.

                        KEY RATING DRIVERS

Reduced Debt Burden: A significant decrease in annual debt service
levels, from US$91.5 million in 2011 to US$35 million in 2012, is
expected to provide flexibility to the structure;

Sustained Operating Performance: Fertinitro continues to make
capital investments to maintain stable plant operations;

Positive Cash Flow: Total cash collections have resulted in nearly
US$212 million at the end of July 2011 and restricted cash for
debt service is almost complete for the total payment due on
October 1st;

Exposure to commodity prices: The project is largely exposed to
urea and ammonia price volatility. Additionally, Fertinitro may be
required to reduce prices at the local market.

                  WHAT COULD TRIGGER A RATING ACTION?

  -- Adequate cash flow to continue making debt service payments
     including US$45.9 million due Oct. 1 2011;
  -- Continued sustained improvement in plant production levels
     and minimization of forced outages;
  -- Progress toward replenishing the debt service reserve fund to
     equal six months of debt service;
  -- Domestic sales remain consistent with management's budget and
     an insignificant portion of total sales;
  -- No further adverse impacts of government intervention.

                              SECURITY

Offshore accounts, project agreements, some real property and some
real shares in FertiNitro.

                            CREDIT UPDATE

Fitch expects rating pressure to remain through 2011, as the
project reaches its maximum annual debt service requirement of
$91.5 million.  The subsequent decline in debt service coincides
with the maturity of bank debt separate from the secured bonds.

Due to a planned outage for plant overhaul in October and November
2010, the capacity factor for the urea plant declined to 67% in
2010 from 74% in 2009.  While management projects the recent major
maintenance will result in a 2011 capacity factor of 85% for the
urea plant, Fitch projects the capacity factor will be more
consistent with 2009 at 74%.

                           Project Summary

FertiNitro, located in the Jose Petrochemical Complex in
Venezuela, ranks as one of the world's largest nitrogen-based
fertilizer plants, with nameplate daily production capacity of
3,600 MT of ammonia and 4,400 MT of urea.  Of total revenues, 80%
are derived from urea sales and the remainder from ammonia.
FertiNitro is owned 35% by a Koch Industries, Inc. subsidiary, 35%
by Pequiven, 20% by a Snamprogetti S.p.A. subsidiary, and 10% by a
Cerveceria Polar, C.A. subsidiary.


FURNITURE DEALS: Judge Signs Receivership Notice
------------------------------------------------
Chris Hubbuch at lacrossetribune.com reports that customers will
have to join other creditors in line for refunds from Furniture
Deals & Steals.  The report relates that claims must be filed with
the court by Nov. 7, under a ruling signed by a Jefferson County
judge last week.

Those who previously filed complaints with the Better Business
Bureau or the Department of Agriculture, Trade and Consumer
Protection will automatically receive a claim form to submit to
the court, said DATCP spokesman Brock Bergey, according to the
report.

Furniture Deals & Steals abruptly closed six stores across
Wisconsin - including one in West Salem - in early July.

lacrossetribune.com discloses that the state's Bureau of Consumer
Protection has since received 119 complaints from consumers
indicating losses of more than $68,000.

Most complaints allege customers made down payments on furniture
they haven't received.

The Fort Atkinson, Wis., based company entered voluntary
receivership last month claiming cash holdings of less than $3,000
and inventory of unknown value against debts of more than $2.5
million, according to court documents, lacrossetribune.com says.


FUSION TELECOMMUNICATIONS: Borrows $130,000 from Marvin Rosen
-------------------------------------------------------------
Fusion Telecommunications International, Inc., on Aug. 5, 2011,
borrowed $130,000 from Marvin S Rosen, a Director of the Company.
This note (a) is payable on demand in full upon ten days notice of
demand from the lender, (b) bears interest on the unpaid principal
amount at the rate of 3.25% per annum, and (c) grants the lender a
collateralized security interest, pari passu with other lenders,
in the Company's accounts receivable.  The proceeds of this note
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.


GELT PROPERTIES: Can File Schedules & Statements Until Aug. 22
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Pennsylvania
extended the deadline of Gelt Properties LLC and Gelt Financial
Corporation to file their schedules of assets and liabilities and
statement of financial affairs from Aug. 8, 2011 to Aug. 22, 2011.

                       About Gelt Properties

Based in Huntington Valley, Pennsylvania, Gelt Properties, LLC,
and affiliate Gelt Financial Corporation borrow money from
traditional lenders and make loans to commercial borrowers.  They
also acquire and manage real estate.  Gelt Properties and Gelt
Financial filed for (Bankr. E.D. Pa. Case Nos. 11-15826 and 11-
15826) on July 25, 2011.  Judge Magdeline D. Coleman presides over
the cases.  Albert A. Ciardi, III, Esq., and Thomas Daniel Bielli,
Esq., at Ciardi Ciardi & Astin, P.C., serve as the Debtors'
bankruptcy counsel.  In their separate petitions, the Debtors both
estimated $10 million to $50 million in assets and debts.  The
petitions were signed by Uri Shoham, the Debtors' chief financial
officer.


GLOBAL AVIATION: Moody's Cuts Corp. Family Rating to 'Caa3'
-----------------------------------------------------------
Moody's Investors Service downgraded its debt ratings of Global
Aviation Holdings Inc.; Corporate Family and Probability of
Default, each to Caa3 from B3 and senior secured first lien to
Caa1 from Ba3. Moody's also placed these lowered ratings on review
for further downgrade.

Downgrades:

   Issuer: Global Aviation Holdings, Inc

   -- Probability of Default Rating, Downgraded to Caa3 from B3

   -- Corporate Family Rating, Downgraded to Caa3 from B3

   -- Senior Secured Regular Bond/Debenture, Downgraded to Caa1
      LGD2- 21% from Ba3 LGD2-23%

Outlook Actions:

   Issuer: Global Aviation Holdings, Inc

   -- Outlook, Changed To Rating Under Review From Stable

RATINGS RATIONALE

The downgrades follow GAH's disclosure in its Form 10-Q filed on
August 15, 2011 that it has elected to defer the semi-annual
interest payment on its 14% first lien senior secured notes due
August 2013 ("First Lien Notes"). The interest payment was
scheduled to be paid on August 15, 2011. The company attributed
the deferral to its taking advantage of the 30-day grace period
provided by the Indenture's terms, in order to seek relief on the
Indenture's sole financial covenant, a minimum consolidated net
cash flow covenant ("Covenant"). The company says it will likely
not be in compliance with the Covenant in the second half of 2011
absent an amendment. The downgrade of the first lien senior
secured rating to Caa1 reflects Moody's belief that this
obligation could experience a modest loss of principle as the
withholding of the interest payment signals that this instrument
may be subject to a restructuring. The downgrades also consider
Moody's belief that demand from GAH's government and commercial
customers will be weak in the next 12 months because of weaker in
theatre demand and declining global economic activity. This
outlook will compound pressure on GAH's current weak operating
performance, even if it achieves the about $30 million of cost
reductions that it is currently pursuing in conjunction with the
further amendment of the financial covenant.

The review for further downgrade considers that the entirety of
the company's debt capital could become subject to a
reorganization. The asset light nature of the company's operations
and the weak outlook for demand for its services could constrain
the company's enterprise value, making it more difficult to
achieve a successful reorganization of the balance sheet as well
as the needed reductions in operating agreements, particularly its
aircraft leases.

The Caa3 Corporate Family rating reflects the increased
probability of default because of the deferred interest payment
and the need for a number of creditors to contribute to a
successful resolution of the company's debt burden. Such a
resolution may be difficult to achieve given the current weak
demand environment. The outcome of Moody's review will be
determined by the company's ability to achieve the covenant
amendment and a substantial portion of the $30 million of targeted
reductions in operating costs. Moody's could conclude the review
with either a confirmation or a one notch upgrade of the current
ratings if the company achieves these objectives. The inability to
reach the sought after agreements with note holders and vendors
(including aircraft lessors) that leads to a default would result
in a downgrade of all ratings.

The principal methodology used in rating GAH 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. Please see the Credit
Policy page on www.moodys.com for a copy of these methodologies.

Global Aviation Holdings, Inc., through its subsidiaries, World
Airways, Inc. and North American Airlines, Inc., provides non-
scheduled passenger and cargo air transportation services to the
Department of Defense's Air Mobility Command, as well as
commercial and charter air transportation. GAH is a co-manager and
lead passenger operator of the Alliance team, the largest of the
three teams that serve the AMC program.


GRANDE HOLDINGS: Hong Kong Case Recognized by U.S. Court
--------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
recognized the liquidation of The Grande Holdings Limited in the
High Court of Hong Kong as a foreign main proceeding pursuant to
Section 1517 of the Bankruptcy Code.

The U.S. Court also ordered that Fok Hei Yu and Roderick John
Sutton, provisional liquidators, may examine witnesses and take
evidence in the United States or obtain information in the U.S.
concerning the Debtor's assets, affairs, rights, obligations or
liabilities; and that the administration or realization of all or
part of the Debtor's assets within the territorial jurisdiction of
the U.S. is entrusted to the petitioners.

The U.S. Court set a status conference on Oct. 25, 2011, at 11:00
a.m.  A status report will be filed in the Debtor's case by Oct.
14, 2011.

The provisional liquidators are represented by:

         Evan M. Jones, Esq.
         Michael C. Heinrichs, Esq.
         O'MELVENY & MYERS LLP
         400 South Hope Street
         Los Angeles, CA 90071
         Tel: (213) 430-6000
         Fax: (213) 430-6407
         E-mail: mheinrichs@omm.com

                - and -

         Gerald C. Bender, Esq.
         Daniel S. Shamah, Esq.
         Jason A. Zimmerman, Esq.
         O'MELVENY & MYERS LLP
         7 Times Square
         New York, NY 10036
         Tel: (212) 326-2000
         Fax: (212) 326-2061
         E-mail: gbender@omm.com
                 dshamah@omm.com
                 jzimmerman@omm.com

                       About Grande Holdings

The Grande Holdings Limited is an investment holding company,
holding shares and equity interests in various groups of
companies.  The principal activities of Grande's subsidiaries
consist of distribution of household appliances and consumer
electronic products and licensing of trademarks.  Grande and its
subsidiary companies own three global brands -- Nakamichi, Akai
and Sansui -- which are recognized for their wide range of audio-
visual equipment, consumer electronics and digital products.  The
products are distributed through its global network spanning Asia,
Africa, Europe, Oceania, the Middle East and the Americas.

Grande Holdings was originally incorporated in the Cayman Islands
on Sept. 5, 1990, but was discontinued and resumed under the laws
of Bermuda.  Grande has been registered in Hong Kong under Part XI
of the Companies Ordinance, Chapter 32 of the Laws of Hong Kong,
and has its principal place of business at 12th Floor, The Grande
Building, 398-402 Kwun Tong Road, in Kowloon.

Fok Hei Yu and Roderick John Sutton, as provisional liquidators of
Grande Holdings, filed a petition under Chapter 15 of the U.S.
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 11-13119) on June 28,
2011, estimating $100 million to $500 million in assets and debts
for Grande.

The Hon. Robert E. Gerber transferred to the Bankruptcy Court
for the Central District of California the Chapter 15 case of the
Debtor.


GRAYMARK HEALTHCARE: Files Form 10-Q, Incurs $600,000 Loss in Q2
----------------------------------------------------------------
Graymark Healthcare, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q reporting 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
during the prior year.

The Company also reported a net loss of $2.52 million on
$8.61 million of net revenues for the six months ended June 30,
2011, compared with a net loss of $1.59 million on $10.85 million
of net revenues for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed
$31.32 million in total assets, $23.76 million in total
liabilities, and $7.56 million in total equity.

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

                        http://is.gd/AtFb12

                     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.


GREATER SALEM: To Forfeit Two Properties Under Reorganization Plan
------------------------------------------------------------------
Glenn Burkins at the Charlotte Observer reports that Greater Salem
Church has filed a reorganization plan that would see it forfeit
two of its properties.

According to the report, while keeping its home church on Salem
Church Road, Greater Salem would lose its "lake church" in
Cornelius, as well as nearly 50 acres off Rozzelles Ferry Road.
Those two properties would be handed over to the Evangelical
Christian Credit Union in exchange for more than $3.8 million in
debt forgiveness.

The Charlotte Observer notes, if the reorganization plan is
approved, Greater Salem would move one step closer to ending a
painful era that saw its former co-pastors, Anthony and Harriet
Jinwright, sent to federal prison for tax evasion.  An IRS agent
testified at the Jinwrights' sentencing hearing that the couple
failed to report more than $2.3 million in income between 1991 and
2008.

The report also notes witnesses testified at the couple's trial
that the Jinwrights lived lavishly from various forms of church
income, even as Greater Salem slipped toward financial ruin.  Both
Jinwrights have filed notices of appeal.

The report notes court records show that Greater Salem claimed
gross receipts of more than $1.6 million in 2008 and 2009, but
that amount dipped to $557,450 in 2010, the year the Jinwrights
were put on trial.

Based in Charlotte, North Carolina, Greater Salem Church filed
for Chapter 11 bankruptcy protection (Bankr. W.D. N.C. Case No.
10-33445) on Nov. 19, 2010.  Judge George R. Hodges presides over
the case.  Richard M. Mitchell, Esq., at Mitchell & Culp, PLLC,
represents the Debtor.  The Debtor disclosed assets of $5,100,000
and debts of $4,993,508.


HARRY STONE: Reformation Action Barred by Statute of Limitations
----------------------------------------------------------------
The Bankruptcy Court denied the motion for summary judgment filed
by Harry Ronald Stone and Mary Warren Stone in the lawsuit styled,
Harry Ronald Stone and Mary Warren Stone, v. Gateway Bank & Trust
Company; First Citizens Bank & Trust Company; First Farm Credit;
First Victoria National Bank; Plantation Federal; Regions Bank;
Suntrust Bank; Wells Fargo Bank; First Bank; Branch Banking &
Trust Company; Bank of America; Mega Force Staffing Group, Inc.
and Johnny Edge, Adv. Proc. No. 11-00006 (Bankr. E.D.N.C.).  The
Stones instituted the adversary proceeding on Jan. 14, 2011,
seeking reformation of a deed to add Mary Warren Stone as an
additional grantee of real property located in Carteret County,
Beaufort, North Carolina.  The deed currently states that H.
Ronald Stone is the sole grantee.  The Court held that the
reformation action is barred by the statute of limitations.  A
copy of Judge J. Rich Leonard's Aug. 15, 2011 Order is available
at http://is.gd/HeNvlmfrom Leagle.com.

                 About Harry and Mary Warren Stone

Harry Ronald Stone and Mary Warren Stone in Beaufort, North
Carolina, filed for Chapter 11 bankruptcy (Bankr. E.D.N.C. Case
No. 10-05985) on July 28, 2010. Judge J. Rich Leonard presides
over the case.  Trawick H. Stubbs, Jr., Esq. --
efile@stubbsperdue.com -- at Stubbs & Perdue, P.A., serves as the
Debtors' counsel.  The Stones estimated $1 million to $10 million
in assets and debts.  A list of the Joint Debtors' 18 largest
unsecured creditors filed together with the petition is available
for free at http://bankrupt.com/misc/nceb10-05985.pdf


HELLER EHRMAN: Covington, Katz Get OK to Settle Suits for $8.5MM
----------------------------------------------------------------
Pete Brush at Bankruptcy Law360 reports that Covington & Burling
LLP and Ronald A. Katz Technology Licensing LP won a bankruptcy
judge's approval Thursday to end two suits brought by Heller
Ehrman LLP over allegedly unpaid legal costs, agreeing to provide
$8.5 million to creditors of the liquidating firm.

U.S. Bankruptcy Judge Dennis Montali approved both settlements as
fair and reasonable, though he reduced the nearly $5 million deal
with Covington & Burling LLP and certain of its intellectual
property group partners by $15,000 "due to the financial
circumstances" of an individual defendant, according to Law360.

                          About Heller Ehrman

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

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


HELLER ERHMAN: To Pay Former Associates, Staff, NLJ Says
--------------------------------------------------------
Bankrupt law firm Heller Ehrman is expected to pay as much as $28
million to unsecured creditors, including about $3 million to
former associates and staff, Carla Main at Bloomberg News reports,
citing the National Law Journal.  The first batch of checks will
be mailed in late September pending approval from U.S. Bankruptcy
Judge Dennis Montali in San Francisco, the newspaper reported.
Payments are expected to amount to 24 cents to 33 cents on the
dollar of debt, said creditors' attorney Thomas Willoughby, Esq.,
according to the NLJ.  Details will be filed under seal because of
privacy concerns, the newspaper said, citing Willoughby.  The
money is available because of settlements with banks and former
shareholders, the NLJ reported.

                        About Heller Ehrman

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

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


HENNIGES AUTOMOTIVE: Moody's Withdraws 'B2' Corp. Family Rating
---------------------------------------------------------------
Moody's Investors Service has withdrawn Henniges Automotive
Holdings, Inc.'s B2 Corporate Family Rating and B3 Probability of
Default Rating, and the B1 rating of the company's proposed senior
secured revolving credit facility and term loan. The withdrawal of
the ratings follows published reports that the company has
cancelled the transaction to issue a $135 million senior secured
term loan, along with a new $20 million senior secured revolving
credit facility. The proposed term loan was to be used to
refinance the company's existing debt, make a shareholder
distribution to the company's equity sponsors, Littlejohn & Co.,
LLC., and add cash to Henniges' balance sheet.

These ratings were withdrawn:

Corporate Family Rating, B2;

Probability of Default, B3;

B1 (LGD2, 23%), for the $20 million senior secured revolving
credit facility;

B1 (LGD2, 23%), for the $135 million senior secured term loan

The last rating action was on July 14, 2011 when the B2 Corporate
Family rating was assigned.

The principal methodology used in rating Henniges Automotive
Holdings, Inc. was the Global Automotive Supplier Industry
Methodology published in January 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.

Henniges Automotive Holdings, Inc., headquartered in Farmington
Hills, MI, is a leading designer and manufacturer of vehicle
sealing systems for doors, windows, trunks, lift gates, sunroofs,
and hoods primarily for the sale to companies in the North
American, European, and Chinese automotive markets.


IMPERIAL INDUSTRIES: Incurs $270,000 Net Loss in Second Quarter
---------------------------------------------------------------
Imperial Industries, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q reporting a
net loss of $270,000 on $2.17 million of net sales for the three
months ended June 30, 2011, compared with a net loss of $84,000 on
$2.68 million of net sales for the same period a year ago.

The Company also reported a net loss of $589,000 on $3.94 million
of net sales for the six months ended June 30, 2011, compared with
a net loss of $960,000 on $4.56 million of net sales for the same
period during the prior year.

The Company reported a net loss of $1.23 million on $8.23 million
of net sales for the year ended Dec. 31, 2010, compared with a net
loss of $5.30 million on $8.63 million of net sales during the
prior year.

The Company's balance sheet at June 30, 2011, showed $5.83 million
in total assets, $7.44 million in total liabilities and a $1.61
million total stockholders' deficit.

As reported by the TCR on April 1, 2011, Grant Thornton LLP, in
Fort Lauderdale, Fla., expressed substantial doubt about the
Company's ability to continue as a going concern.  Grant Thornton
noted that the industry in which the Company is operating has been
impacted by a number of factors and accordingly, the Company has
experienced a significant reduction in its sales volume.  Grant
Thornton added that for the year ended Dec. 31, 2010, the Company
has a loss from continuing operations of approximately $596,000.

S. Daniel Ponce, Imperial's chairman of the Board, stated: "All
signs indicate construction activity will remain anemic in
Florida, our largest trade area, for the remainder of the year.
We are continuing to focus on initiatives to improve efficiency
and expand our base of business through geographic expansion and
the development of new product offerings in an effort to
strengthen our operations when market conditions improve."

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

                        http://is.gd/aR956P

                     About Imperial Industries

Pompano Beach, Fla.-based Imperial Industries, Inc. (OTC BB: IPII)
-- http://www.imperialindustries.com/-- manufactures and
distributes stucco, plaster and roofing products to building
materials dealers, contractors and others through its subsidiary,
Premix-Marbletite Manufacturing Co.  The Company sells its
products primarily in the State of Florida and to a certain extent
the rest of the Southeastern United States.


INDIANAPOLIS DOWNS: Lender Accuses Firm for 'Slow Playing'
----------------------------------------------------------
Ian Thoms at Bankruptcy Law360 reports that a creditor for
Indianapolis Downs LLC on Monday accused the Company of slow
playing its Chapter 11 case to give its CEO ample time to recover
as much money as possible.

Fortress Credit Opportunities Advisors LLC, a post-petition lender
that also holds second- and third-lien notes issued by the
debtors, asked the Delaware bankruptcy court to reject
Indianapolis Downs' bid for an extension of the exclusivity period
for filing plans of reorganization, according to Law360.

                       About Indianapolis Downs

Indianapolis Downs, LLC, operates a "racino," which is a combined
race track and casino, at a state-of-the-art 283 acre Shelbyville,
Indiana site.  It also operates two satellite wagering facilities
in Evansville and Clarksville, Indiana.  Total revenue for 2010
was $270 million, representing an 8.7% increase in 2009.  The
casino captured 53% of the Indianapolis market share.

In July 2001, Indianapolis Downs was granted a permit to conduct a
horse track operation in Shelvyville, Indiana, and started
operating the track in 2002.  It was granted permission to operate
the casino at the racetrack operation in May 2007.  The casino
began operations in July 2010.

Indianapolis Downs and subsidiary, Indianapolis Downs Capital
Corp., sought Chapter 11 protection (Bankr. D. Del. Lead Case No.
11-11046) in Wilmington, Delaware, on April 7, 2011.  Indianapolis
Downs estimated $500 million to $1 billion in assets and up to
$500 million in debt as of the Chapter 11 filing.  According to a
court filing, the Debtor owes $98,125,000 on a first lien debt. It
also owes $375,000,000 on secured notes and $72,649,048 on
subordinated notes.

Matthew L. Hinker, Esq., Scott D. Cousins, Esq., and Victoria
Watson Counihan, Esq., at Greenberg Traurig, LLP in Wilmington,
Delaware, have been tapped as counsel to the Debtors. Christopher
A. Ward, Esq., at Polsinelli Shughart PC, in Wilmington, Delaware,
is the conflicts counsel. Lazard Freres & Co. LLC is the
investment banker. Bose Mckinney & Evans LLP and Bose Public
Affairs Group LLC serve as special counsel. Kobi Partners, LLC,
is the restructuring services provider. Epiq Bankruptcy
Solutions is the claims and notice agent.


INNKEEPERS USA: Cerberus Has Cold Feet, Puts Off Sale Closing
-------------------------------------------------------------
Mike Spector and Kris Hudson, writing for The Wall Street Journal,
report that people familiar with the matter said Cerberus Capital
Management LP put off closing a deal to buy Innkeepers USA Trust
amid market turmoil earlier this month.  Specifically, the move
came as markets were becoming more volatile amid concerns over
slower economic growth, possible contagion from European debt woes
and a credit-rating downgrade of the U.S.  Sources said Cerberus'
move has raised uncertainties around Innkeepers' plans to emerge
from bankruptcy protection.

The sources told the Journal that Cerberus and Innkeepers were
close to consummating the deal Aug. 5, when the private-equity
firm told the hotelier it wasn't prepared to complete the
transaction.  Cerberus noted to Innkeepers representatives that
the deal's terms contained "material adverse" change language that
could give the private-equity firm permission to pull out of the
buyout, the people said.

According to the Journal's sources, Cerberus didn't tell
Innkeepers' representatives it intended to abandon the deal nor
identify specific concerns.  The deadline to close the deal is
Sept. 15.

Under the deal's terms, Cerberus can "terminate" the purchase if
there is an "occurrence of any condition, change or development"
that would have a "material adverse effect" on Innkeepers'
business.

The sources told the Journal Innkeepers representatives believe
recent market turbulence prompted Cerberus to pause and reevaluate
the deal.  They believe Cerberus could be raising the issue in an
effort to renegotiate the deal and pay a lower price.

The sources told the Journal Innkeepers' lawyers at Kirkland &
Ellis are considering asking a judge to hold a hearing on the
matter.

The Journal recounts that Cerberus has walked away from a deal
before.  It pulled out of a $4 billion pact to buy United Rentals
Inc. when credit markets tightened in 2007, prompting litigation.
A judge ruled Cerberus acted within its contractual rights despite
having "buyer's remorse."  Cerberus paid United Rentals a $100
million termination fee.  Since then, Cerberus has closed on more
than 25 deals.

                     About Innkeepers USA Trust

Innkeepers USA Trust is a self-administered Maryland real estate
investment trust with a primary business focus on acquiring
premium-branded upscale extended-stay, mid-priced limited service,
and select-service hotels.

Innkeepers, through its indirect subsidiaries, owns and operates
an expansive portfolio of 72 upscale and mid-priced extended-stay
and select-service hotels, consisting of approximately 10,000
rooms, located in 20 states across the United States.

Apollo Investment Corporation acquired Innkeepers in June 2007.

Innkeepers USA Trust and 91 affiliates filed for Chapter 11
protection (Bankr. S.D.N.Y. Case No. 10-13800) on July 19, 2010.
Paul M. Basta, Esq., at Kirkland & Ellis LLP, in New York; Anup
Sathy, P.C., Esq., Marc J. Carmel, Esq., at Kirkland & Ellis in
Chicago; and Daniel T. Donovan, Esq., at Kirkland & Ellis in
Washington, D.C., serve as counsel to the Debtors.  AlixPartners
is the restructuring advisor and Marc A. Beilinson is the chief
restructuring officer.  Moelis & Company is the financial advisor.
Omni Management Group, LLC, is the claims and notice agent.
Attorneys at Morrison & Foerster, LLP, represent the Official
Committee of Unsecured Creditors.

The Company's consolidated assets for 2009 totaled approximately
$1.5 billion.  As of July 19, 2010, the Company and its affiliates
have incurred approximately $1.29 billion of secured debt.

In June 2011, the Bankruptcy Court entered an order confirming the
Company's chapter 11 plan of reorganization.  The Plan was
supported by the Company's secured lenders and has been accepted
by more than 90% of Innkeepers' unsecured creditors and
shareholders.

The Plan is premised on the sale of the Company's hotel portfolio.
A joint venture between the private-equity firm Cerberus Capital
Management, L.P. and the real estate investment trust Chatham
Lodging will purchase for roughly $1.1 billion the equity in
entities that own and operate 65 of the Company's hotels.  Chatham
Lodging will also purchase for $195 million, five of the Company's
hotels that serve as collateral for loan trusts serviced by LNR
Partners LLC.  The deal for the five hotels closed in July.


ITRON INC: Moody's Withdraws 'Ba1' Senior Secured Ratings
---------------------------------------------------------
Moody's Investors Service has withdrawn Itron Inc.'s Ba1 senior
secured ratings as the related obligations were repaid on August
8, 2011 with proceeds from new unrated credit facilities.
Concurrently, Moody's withdrew all of Itron's other ratings which
consist of a Ba2 corporate family rating, Ba2 probability of
default rating and SGL-2 speculative grade liquidity rating.

The principal methodology used in rating Itron was the Global
Manufacturing Industry Rating Methodology, published December
2010. Other methodologies used include Loss Given Default for
Speculative Grade Issuers in the US, Canada, and EMEA, published
June 2009.

Headquartered in Liberty Lake, Washington, Itron is a leading
provider of metering and related communication systems to
electric, gas and water utilities globally. Revenues for the last
twelve months ended June 30, 2011 were about $2.4 billion.


JOON ASSOCIATES: Trocadero Theatre Files for Bankruptcy
-------------------------------------------------------
Carla Main at Bloomberg News reports that Joon Associates, Inc.,
doing business as Trocadero Theatre, filed for Chapter 11
bankruptcy (Bankr. E.D. Pa. Case No. 11-16432) on Aug. 16 in
Philadelphia, declaring assets of as much as $500,000 and debt of
as much as $1 million.  The largest unsecured creditors are
Northwest Arch LLC, owed $190,970, and AEG Live, owed $71,523,
according to the petition.


KNOLOGY INC: Moody's Says Ratings Unaffected by Share Repurchase
----------------------------------------------------------------
Moody's Investors Service said that Knology, Inc.'s announced
authorization of a repurchase program of 2,000,000 shares of the
company's common stock will have no impact on the company's
ratings, including the company's B1 Corporate Family Rating, B2
Probability of Default Rating, B1 senior secured bank debt ratings
and SGL-2 Speculative Grade Liquidity Rating. The rating outlook
remains stable. Moody's expects that the company will fund the
share repurchase with available cash on hand and free cash flow.

The principal methodology used in rating Knology was Moody's
Global Cable Television Industry Methodology, published in July
2009 and available on www.moodys.com in the Rating Methodologies
sub-directory under the Research & Ratings tab. Other
methodologies and factors that may have been considered in the
process of rating this issuer can also be found in the Rating
Methodologies sub-directory on Moody's website.

Headquartered in West Point, Georgia, Knology, Inc. is principally
an "overbuild" provider of video, high speed data and telephony
services primarily in the Southeast and portions of the Midwest.
The company generated revenue of approximately $496 million for
the twelve month period ended June 2011.


LEHMAN BROTHERS: Gets Court OK $5.3-Bil. Mgt. Deal With WCAS-FS
---------------------------------------------------------------
WCAS Fraser Sullivan Investment Management disclosed that the U.S.
Bankruptcy Court for the Southern District of New York has
approved an Asset Management Agreement between WCAS-FS and Lehman
Brothers Holdings Inc., under which WCAS-FS will manage LBHI's
$5.3 billion commercial loan portfolio (the "Loan Portfolio"),
including $3.8 billion in commercial loans and $1.5 billion in
unfunded loan commitments.

As provided in the Agreement, WCAS-FS will transfer assets from
the Loan Portfolio into a series of static collateralized loan
obligations.  WCAS-FS expects to issue one or more CLO
transactions involving collectively at least $500 million in loans
within the next six months and one or more CLO transactions
involving collectively at least an additional $500 million in
loans within a year.  It is expected that the CLOs will monetize
up to $2 billion of Loan Portfolio assets for the benefit of the
LBHI estate and its creditors.  In addition, LBHI will retain the
equity interests in the CLOs.

The Agreement also provides for WCAS-FS to manage the portion of
the portfolio that is deemed ineligible to be securitized, which
includes the unfunded commitments and a small portion of the
existing commercial loans.

"We are very pleased with the Court's approval of the Asset
Management Agreement," said John Fraser, Founder, Managing Partner
and CIO of WCAS-FS.  "We look forward to using our asset
management expertise and extensive experience structuring and
managing CLOs to benefit the creditors of the Lehman estate."

"This is a great outcome for the estate and for our creditors,"
said Doug Lambert, Managing Director of Alvarez & Marsal, the
restructuring firm managing the liquidation of the Lehman estate,
and Chief Executive Officer of Lehman's Legacy Asset Management
Company, which currently manages the Loan Portfolio.  "The
agreement with WCAS Fraser Sullivan will provide for maximization
of recovery value from our loan portfolio over the long term,
while ensuring continuity of management who are aligned with the
estate's mission to deliver that value back to creditors."

To ensure seamless management and to avoid any impairment of the
performance and value of the Loan Portfolio due to a disruption of
the personnel managing the loans, under the Agreement, WCAS-FS
will hire ten current LAMCO employees, including three senior
portfolio managers, Frank Turner, Francis Chang and Patrick
Marshall.

"With a significant portion of the LAMCO team coming on board to
support us, we are in the best position to effectively manage the
Lehman portfolio and to securitize the eligible assets in a manner
that produces the best possible outcome for the estate," said
Tighe Sullivan, Founder, Managing Partner and COO of WCAS-FS.

                     Committee Backed Deal

The Official Committee of Unsecured Creditors in Lehman Brothers'
Chapter 11 cases expressed its support for the approval of the
proposed deal which authorizes WCAS/Fraser Sullivan Investment
Management LLC to administer Lehman Brothers Holdings Inc.'s
portfolio of commercial loans.

Dennis Dunne, Esq., at Milbank Tweed Hadley & McCloy LLP, in New
York, said retaining a third-party manager capable of pooling
loans in collateralized loan obligations (CLO) investment
vehicles and managing the remaining portfolio is the right
approach to maximize returns to creditors from those assets.

Mr. Dunne further said the Creditors' Committee supports the deal
because it will have continued control over the disposition of
the portfolio.

The proposed deal also drew support from the ad hoc group of
Lehman Brothers creditors including Paulson & Co. and the
California Public Employees' Retirement System.

"Receipt of the net cash received by the CLO issuers from the CLO
proceeds may monetize the corporate loan portfolio in the most
efficient and expeditious fashion while also providing [Lehman]
with the possibility of substantial upside through the possession
of the economic equity interests in the respective CLO issuers in
the event that the contributed loans outperform expectations,"
the group said in court papers.

                        Asset Mgt. Deal

The deal was hammered out in light of LBHI's plan to monetize the
portfolio by executing collateralized loan obligations (CLOs)
transactions and by selling their commercial loans to CLO
issuers.

As of July 15, 2011, the company and other Lehman units held
commercial loans issued by or equity interests in 157 issuers
with an aggregate principal balance of about $3.8 billion, and
unfunded commitments in the sum of $1.5 billion, according to
court filings.

Under the deal, Fraser Sullivan will be employed to provide asset
management and investment management services related to the
commercial loan portfolio.  Subject to market conditions, the
firm will also execute a series of CLOs involving at least
$500 million of loans no later than 180 days after the deal takes
effect and an additional $500 million of loans no later than one
year after the effective date.

A team of managers at LAMCO LLC that currently manages the
commercial loan portfolio will be tapped by Fraser Sullivan after
the effective date, according to the deal.

LBHI estimates that the total management fees to be paid to
Fraser Sullivan for the management of the portfolio will be
approximately $3 million for the period September 1 to
December 31, 2011; $9 million for next year and $8 million for
2013.

The deal also authorizes the Lehman units to sell commercial
loans to CLO issuers.  Upon the closing of CLOs, the Lehman units
that have sold their loans will receive cash and economic equity
interests in the CLOs.

The deal is formalized in a 32-page agreement which is available
for free at http://bankrupt.com/misc/LBHI_FraserDealCLP.pdf

Based on market conditions and the composition of the commercial
loan portfolio as of July 15, 2011, LBHI will receive about $1.6
to $2 billion in cash from the proceeds received from sale of the
multiple tranches of securities issued by CLO issuers.  The funds
can be used to make distributions to creditors immediately after
the company's proposed Chapter 11 plan takes effect, according to
Douglas Lambert, managing director with Alvarez and Marsal.

                  About WCAS Fraser Sullivan

WCAS Fraser Sullivan Investment Management is a global asset
manager specializing in the high yield credit market, with a
particular focus on leveraged loans.  Founded in 2005 by John
Fraser and Tighe Sullivan, WCAS Fraser Sullivan has offices in New
York and London and a highly skilled team of investment management
professionals averaging over 15 years of experience.  The firm has
$7.8 billion in assets under management across five cash flow
CLOs, two credit opportunity funds and separate accounts.
www.frasersullivan.com .

                       About Lehman Brothers

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

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

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

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

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

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

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

               International Operations Collapse

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

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

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


LEHMAN BROTHERS: Plan Faces Opposition Over Lack Of Information
---------------------------------------------------------------
Tracy Davis, the U.S. Trustee for Region 2, called for the
revision of Lehman Brothers Holdings Inc.'s proposed Chapter 11
plan and disclosure statement, saying they do not provide
sufficient information to voting creditors.

The U.S. Trustee cited 23 deficiencies including the lack of
information about how LBHI's own plan differs from the two
competing plans proposed by its creditors.

A group of creditors including hedge fund Paulson & Co. and the
California Public Employees' Retirement System previously filed a
rival plan that calls for "substantive consolidation" in which
all Lehman assets are thrown into one pot, with creditors
receiving a similar distribution regardless of the Lehman unit
that owed the debt.

Unlike the Paulson group's proposal, the bankruptcy plan proposed
by the other group of creditors led by Goldman Sachs Bank USA
does not provide for the consolidation of LBHI's operating units
into the same asset pool with the company.

Lawyer for the trustee, Andrea Schwartz, Esq., said the
disclosure statement provides "very little information"
concerning why LBHI believes its own proposal puts forth the
better approach.

"The disclosure statement must inform the average creditor what
it is going to get and when, and what contingencies there are
that might intervene," the trial attorney said in court papers.

Other issues raised by the U.S. Trustee include the lack of
timetable for the liquidation of Lehman assets, inadequate
information on the current financial condition of LBHI and detail
on plans to LAMCO LLC, the entity created to manage various
assets.

The U.S. Trustee also sought a ruling denying approval of the
solicitation process on grounds that Epiq Bankruptcy Solutions
LLC cannot be retained as LBHI's solicitation agent unless the
company files a separate application for its retention and
provide necessary disclosure.

The proposed disclosure statement also drew flak from Lehman
creditors, including Wilmington Trust Company which purportedly
holds between $49 billion and $73 billion in claims.  WTC said
LBHI did not give adequate information on the treatment of
structured securities claims.

PricewaterhouseCoopers AG, which oversees the liquidation of
Swiss corporation Lehman Brothers Finance AG, criticized a
provision in the Lehman plan that allegedly authorizes the
unequal treatment of claims in the same class.

The Association of German Banks complained that the Lehman plan
is premised in large part upon the so-called plan adjustment that
purports to compromise the issue of substantive consolidation but
the disclosure statement does not discuss the merits of such
consolidation on an entity-by-entity basis.

Mason Capital Management LLC, which manages investment funds that
own about $380 million worth of notes issued by Lehman Brothers
Treasury Co. B.V., questioned the proposed transfer by creditors
including holders of LBT notes of the value of their claims to
other creditors as settlement of the risk that some entities
would be substantively consolidated with Lehman.

The investment manager pointed out that the disclosure statement
does not give an explanation as to why there is any risk of
substantive consolidation of a foreign, non-debtor affiliate such
as LBT.

Meanwhile, Fidelity National Title Insurance Company complained
over the lack of information regarding the insurance policies
that would be assumed under the Lehman plan.

The proposed disclosure statement also hit a snag from a group of
pension trusts and funds including the Alameda County Employees'
Retirement Association, LibertyView and Locals 302 and 612 of the
International Union of Operating Engineers-Employers Construction
Industry Retirement Trust.  They complained that the disclosure
statement contains "broad and ambiguous provisions" or omits
facts that may mislead creditors.

Other opposing Lehman creditors include Centerbridge Credit
Advisors LLC, Monarch Alternative Capital LP, Anchorage Capital
Group LLC, Sumitomo Mitsui Banking Corp., Danske Bank A/S, Tomy
Tewalt and Gary Cutler.  They complained that the disclosure
statement does not give sufficient information on how Lehman
intends to approach valuation of their claims under the
derivatives contracts, does not disclose the so-called plan
support agreements executed by creditors supporting the Lehman
plan, among other reasons.

LBHI, meanwhile, found an ally in other creditors, many of which
have already executed plan support agreements with the company.
Among them are the Paulson-led group, Elliott Management Corp.,
The Baupost Group LLC, Goldman Sachs, Och-Ziff Capital Management
Group LLC, State Street Bank and Trust Company, The Royal Bank of
Scotland plc, Deutsche Bank AG, DB Energy Trading LLC, Varde
Partners LP, UBS AG, CarVal Investors UK Limited, Societe
Generale, Credit Suisse and certain debt holders represented by
Boston-based law firm, Brow Rudnick LLP.

                    About Lehman Brothers

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

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

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

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

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

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

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

               International Operations Collapse

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

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

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


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

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

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

Lehman Brothers and the Committee filed statements of issues in
connection with their appeal from Judge James Peck's order denying
their motions to modify his 2008 sale order.

Judge Peck of the U.S. Bankruptcy Court for the Southern
District of New York issued the order on July 15, 2011, which
denied the proposed revision of his prior ruling that authorized
the sale of LBHI's North American broker-dealer business to
Barclays plc.  The bankruptcy judge also ordered the dismissal of
Count III, Count IV, Count V, Count VI and Count IX of the
complaint filed by the company in connection with the 2008 sale.

In the statement, LBHI raised, among other things, the issues of:

  (1) whether Judge Peck applied an inappropriate standard under
      Fed. R. Civ. P. 60(b) by denying the company's motion;

  (2) whether Judge Peck erred by applying an inappropriate
      standard under Fed. R. Civ. P. 60(b)(3) by requiring the
      company and the Creditors Committee to show that the
      outcome of the sale hearing would have been different if
      all material facts had been disclosed in the proceedings
      upon which the sale order was based, when he also found
      that the material terms of the transaction he had been
      asked to approve were not disclosed, and the sale
      transaction that actually closed was materially different
      from the deal that he had approved; and

  (3) whether Judge Peck erred in retroactively deeming the
      so-called clarification letter approved when, among other
      things, he had been informed that he would be presented
      with the letter but it was not submitted for approval; and
      when he expressly found that he had not approved the
      letter.

The Creditors' Committee raised, among other things, the issues
of whether or not the bankruptcy judge erred in:

  (1) determining that in order to establish entitlement to
      relief under Rule 60(b)(3) of the Federal Rules of Civil
      Procedure, the Creditors Committee needed to show that the
      withheld or undisclosed information would have changed the
      outcome or altered the result of the Sale Hearing and the
      form and content of the sale order;

  (2) not granting relief from the sale order under Rule 60(b)
      of the Federal Rules of Civil Procedure when the evidence
      presented at trial demonstrated that certain facts were
      not disclosed to the bankruptcy judge, including the
      existence of a "$5 billion 'buffer' producing a gain to
      Barclays on day one of the sale and the differences in the
      comp and cure estimates versus the amount actually paid;
      and

  (3) finding that even though the clarification letter had not
      been approved by the bankruptcy judge, the letter
      nonetheless was enforceable, and that reliance on an
      agreement that was not the subject of a court order
      approving the agreement is an acceptable substitute for
      bankruptcy-court review and approval under Section 363 of
      the Bankruptcy Code.

  (4) determining the clarification letter was enforceable and
      should be interpreted in a manner that is consistent with
      the record of the sale hearing when the express terms of
      the letter differed materially from the record at the
      hearing.

                    About Lehman Brothers

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

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

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

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

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

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

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

               International Operations Collapse

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

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

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


LEHMAN BROTHERS: Dismissal Plea of Suit vs. LBHI, Jones Pending
---------------------------------------------------------------
The Jones Financial Companies, L.L.L.P.'s subsidiary's motion to
dismiss the third amended complaint in a lawsuit related to
Lehman Brothers Holdings Inc. remains pending, according to the
Company's August 5, 2011, Form 10-Q filing with the U.S.
Securities and Exchange Commission for the quarter ended June 24,
2011.

In October 2008, a putative class action lawsuit was filed in
Arkansas state court, Saline County, under Sections 11, 12(a)(2)
and 15 of the Securities Act of 1933 Act against certain officers
and directors of Lehman Brothers Holdings, Inc. and a syndicate
of underwriters, including Edward Jones, of Lehman bonds sold
pursuant to the registration statement and prospectus dated May
30, 2006, and various prospectus supplements dated October 22,
2006, and thereafter.  Edward D. Jones & Co., L.P., is the
principal operating subsidiary of The Jones Financial Companies,
L.L.L.P.

In November 2008, a similar lawsuit was filed in Arkansas state
court, Benton County, against the same defendants stemming from
the sale of 6.5% Lehman Bonds maturing October 25, 2027, pursuant
to the registration statement and prospectus and prospectus
supplement dated August 2, 2007.  Plaintiffs in both actions
allege the defendants made material misrepresentations to the
purchasers of Lehman Bonds.  While each lawsuit relates to a
different series of Lehman bonds, the plaintiffs in each lawsuit
seek unspecified compensatory damages, attorneys' fees, costs and
expenses.  In February 2009, the U.S. Judicial Panel on
Multidistrict Litigation transferred these two actions to the
Southern District of New York for coordinated or consolidated
pretrial proceedings with similar actions pending in the SDNY.
Lead plaintiffs in the consolidated Lehman securities class
action filed a Third Amended complaint in April 2010, which
alleges that Edward Jones underwrote two separate offerings of
Lehman notes in February and April 2008.  Defendants filed a
Motion to Dismiss the Third Amended Complaint in July 2010, which
is currently pending.

                    About Lehman Brothers

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

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

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

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

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

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

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

               International Operations Collapse

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

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

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


LEHMAN BROTHERS: Jury Trial to Bethany Loan Guarantors Denied
-------------------------------------------------------------
Judge Sidney H. Stein of the U.S. District Court for the Southern
District of New York ruled in favor of Lehman Brothers Holdings
Inc. by ruling that defendants who had signed jury waivers were
not entitled to a jury trial in its lawsuit seeking repayment of
$33.4 million of $200 million in loans granted to Bethany
Holdings Group LLC.

LBHI loaned Bethany Holdings more than $200 million for the
purchase of apartment properties in Arizona.  The Terry and Rose
Knutson 2000 Family Trust and Terry Knutson executed five
guaranties in connection with Lehman's loans to Bethany.  After
Bethany defaulted on the loans, Lehman demanded payment on the
guaranties.  The Knutson defendants have not made payment
claiming, among other things, that the guaranties were
fraudulently induced.  Lehman initiated a lawsuit to recover on
the guaranties.

Judge Stein held that the Knutson defendants' claim that the
guaranties were fraudulently induced is not a ground for
invalidating the jury waivers contained in those guaranties.  He
further held that "unless a party alleges that its agreement to
waive its right to a jury trial was itself induced by fraud, the
party's contractual waiver is enforceable vis-a-vis an allegation
of fraudulent inducement relating to the contract as a whole,"
citing Merrill Lynch, 500 F.3d at 188.  Because the Knutson
defendants do not allege that the jury waiver provisions
themselves were procured by fraud, the question for consideration
is simply whether the jury waivers were entered into by the
Knutson defendants knowingly and voluntarily, Judge Stein said.

Judge Stein also pointed out that the jury waivers in the
guaranties are sufficiently conspicuous to warrant enforcement
and the defendants were given ample opportunity to review the
guaranties.

Accordingly, the District Court concluded that the Knutson
defendants knowingly and voluntarily contracted to waive their
right to have the action tried by a jury.

A full-text copy of the August 5 Opinion is available for free
at http://is.gd/6FZFFF

                    About Lehman Brothers

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

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

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

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

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

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

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

               International Operations Collapse

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

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

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


LEHMAN BROTHERS: HK Entities Support Pay-Out Plan
-------------------------------------------------
Lehman Brothers Holdings Inc. and the Liquidators for Lehman Hong
Kong, one of the largest groups of LBHI's international
affiliates, have reached an agreement settling all intercompany
claims between the U.S. Debtors and Lehman Hong Kong.  The
agreement, which is subject to approval in the U.S. Chapter 11 and
Hong Kong proceedings later this year, settles over $20 billion of
complex intercompany relationships between LBHI's U.S. debtors and
nine Hong Kong entities in liquidation.

LBHI has also secured the support of Lehman Hong Kong for its
Second Amended Joint Chapter 11 Plan and Disclosure Statement.
The Liquidators of Lehman's Hong Kong entities now join the
Unsecured Creditors Committee and other creditor groups
representing over $100 billion in claims in support of LBHI's
plan.

Edward Middleton, Partner, KPMG China, and one of the Hong Kong
Liquidators, said: "This is a genuinely exciting development.  It
is a quantum leap in the progress of the Hong Kong liquidations,
and I am sure will assist our colleagues in the U.S. as well.  The
settlement, achieved without litigation, provides mechanics that
will cut through many of the complexities of our multi-layered
relationships, and will thereby materially speed up the
liquidations, which can only be of benefit to our creditors."

Daniel Ehrmann, LBHI's head of international operations and co-
head of derivatives and a managing director at restructuring
and professional services firm Alvarez & Marsal, said: "This
agreement is another milestone in the case -- it resolves more
than $20 billion of intercompany claims and contributes
significantly to LBHI's recoveries.  As we have consistently
stated, we remain focused on negotiating settlements with our
international affiliates and to bringing the Estate's plan to a
vote and confirmation by year end."

The Lehman Brothers bankruptcy is the largest and most complex in
history.  Before the bankruptcy, Lehman Brothers had over $630
billion of assets on its balance sheet and operated as a truly
global firm with over 7,000 legal entities in more than 40
countries.  Its global cash management system, organizational
structure, product lines and operating platforms resulted in
numerous cross-border and cross-entity interdependencies. Lehman's
insolvency has resulted in over 75 separate and distinct
bankruptcy proceedings, with the non-United States proceedings
managed by a number of court appointed administrators,
liquidators, trustees, receivers, and like office holders.

LBHI and its affiliated chapter 11 debtors, through their
restructuring advisers at Alvarez & Marsal and their attorneys at
Weil, Gotshal & Manges LLP, filed the Second Amended Joint
Chapter 11 Plan and Disclosure Statement with the United States
Bankruptcy Court for the Southern District of New York on June
28, 2011.  These filings can be found at www.lehman-docket.com in
the key documents section.  To date, more than 30 creditor groups
representing claims of over $100 billion have signed plan support
agreements.  The U.S. Chapter 11 debtors will be seeking the
Bankruptcy Court's approval of the Plan and Disclosure Statement
at a hearing scheduled to be held on August 30, 2011.

                    About Lehman Brothers

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

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

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

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

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

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

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

               International Operations Collapse

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

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

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


LIFECARE HOLDINGS: Incurs $4.6 Million Net Loss in Q2
-----------------------------------------------------
Lifecare Holdings, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q reporting a
net loss of $4.63 million on $95.99 million of net patient
services revenue for the three months ended June 30, 2011,
compared with net income of $692,000 on $90.63 million of net
patient service revenue for the same period a year ago.

The Company also reported a net loss of $8.23 million on $190.91
million of net patient service revenue for the six months ended
June 30, 2011, compared with net income of $6.22 million on
$185.59 million of net patient service revenue for the same period
during the prior year.

The Company's balance sheet at June 30, 2011, showed $455.99
million in total assets, $475.70 million in total liabilities and
a $19.71 million total stockholders' deficit.

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

                        http://is.gd/BjXgLq

                      About LifeCare Holdings

Plano, Tex.-based LifeCare Holdings, Inc. --
http://www.lifecare-hospitals.com/-- operates 19 hospitals
located in nine states, consisting of eight "hospital within a
hospital" facilities (27% of beds) and 11 freestanding facilities
(73% of beds).  Through these 19 long-term acute care hospitals,
the Company operates a total of 1,057 licensed beds and employ
approximately 3,200 people, the majority of whom are registered or
licensed nurses and respiratory therapists.  Additionally, the
Company holds a 50% investment in a joint venture for a 51-bed
LTAC hospital located in Muskegon, Michigan.

                          *     *     *

LifeCare Holdings carries "Caa1" corporate family and probability
of default ratings, with negative outlook, from Moody's Investors
Service and a 'CCC-' corporate credit rating, with negative
outlook from Standard & Poor's Ratings Services.

In November 2010, Standard & Poor's Ratings lowered its corporate
credit rating on LifeCare Holdings to 'CCC-' from 'CCC+'.  "The
downgrade reflects the imminent difficulty the company may
have in meeting its bank covenant requirements and the risk of it
successfully refinancing significant debt maturing in 2011 and
2012," said Standard & Poor's credit analyst David Peknay.  The
likelihood of a debt covenant violation is heightened by the
company's lack of appreciable operating improvement coupled with a
large upcoming tightening of is debt covenant in the first quarter
of 2011.  Additional equity by the company's financial sponsor may
be necessary to avoid a covenant violation.  Accordingly, S&P
believes the chances of bankruptcy have increased.

As reported by the TCR on May 26, 2011, Standard & Poor's Rating
Services affirmed its 'CCC-' corporate credit rating and its
senior subordinated debt rating on Plano, Texas-based LifeCare
Holdings Inc.  "The low-speculative-grade rating on LifeCare
reflects its narrow focus in a competitive business heavily
reliant on uncertain Medicare reimbursement," said Standard &
Poor's credit analyst David Peknay, "and its highly leveraged
financial risk profile highlighted by very weak cash flow
protection measures, slim liquidity, and very high debt level."


LITHIUM TECHNOLOGY: Incurs $7.8-Mil. Net Loss in Second Quarter
---------------------------------------------------------------
Lithium Technology Corporation filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q reporting a
net loss of $7.84 million on $2.12 million of products and
services sales for the three months ended June 30, 2011, compared
with net income of $64,000 on $1.32 million of product and
services sales for the same period during the prior year.

The Company also reported a net loss of $11.31 million on $4.39
million of products and services sales for the six months ended
June 30, 2011, compared with a net loss of $1.84 million on $3.04
million of products and services sales for the same period a year
ago.

The Company's balance sheet at June 30, 2011, showed $10.29
million in total assets, $37.44 million in total liabilities and a
$27.15 million total stockholders' deficit.

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

                        http://is.gd/fo4oZZ

                     About Lithium Technology

Plymouth Meeting, Pa.-based Lithium Technology Corporation is a
mid-volume production stage company that develops large format
lithium-ion rechargeable batteries to be used as a new power
source for emerging applications in the automotive, stationary
power, and national security markets.

The Company reported a net loss of $7.25 million on $6.35 million
of products and services sales for the year ended Dec. 31, 2010,
compared with a net loss of $10.51 million on $7.37 million of
product and services sales during the prior year.

                     $7 Mil. Funding Needed

As reported by the TCR on April 8, 2011, the Company entered into
a number of financing transactions and is continuing to seek other
financing initiatives.  The Company said it will need to raise
additional capital to meet its working capital needs and to
complete its product commercialization process.  Such capital is
expected to come from the sale of securities and debt financing.
The Company believes that if it raises approximately $7 million in
debt and equity financings, the Company would have sufficient
funds to meet its needs for working capital and capital
expenditures and to meet expansion plans during 2011.  If the
Company is not able to raise such additional capital, the Company
will assess all available alternatives including a sale of the
Company's assets or merger, the suspension of operations and
possibly liquidation, auction, bankruptcy, or other measures.

                          Going Concern

As reported by the TCR on April 8, 2011, Amper, Politziner &
Mattia, LLP, Edison, New Jersey, after auditing the Company's
financial statements for the year ended Dec. 31, 2010, noted that
the Company has recurring losses from operations since inception
and has a working capital deficiency that raise substantial doubt
about its ability to continue as a going concern.

In the Form 10-Q, the Company acknowledged that as of March 31,
2011, it had an accumulated deficit of approximately $158,555,000.
The Company has financed its operations since inception primarily
through equity financings, loans from shareholders and other
related parties, loans from silent partners and bank borrowings
secured by assets.  The Company has recently entered into a number
of financing transactions and are continuing to seek other
financing initiatives.  The Company will need to raise additional
capital to meet its working capital needs and to complete its
product commercialization process.  Such capital is expected to
come from the sale of securities and debt financing.  Continuation
of the Company's operations in the future is dependent upon
obtaining consent from the lenders to extend the respective
maturity date of the debentures.


LOS ANGELES DODGERS: Ticket Holders Want Official Committee
-----------------------------------------------------------
Carla Main at Bloomberg News reports that Los Angeles Dodgers
season-ticket holders, including the family of singer Frank
Sinatra, will seek an official committee to represent them during
the team's bankruptcy.

According to the report, the family of Sinatra, the iconic 1950s
singer and actor who died in 1998, was among a group of five
season-ticket holders who plan to participate in the case and will
seek to have their legal fees paid by the Dodgers through the
appointment of a court-approved committee.

"Each group member is a current Dodgers season-ticket holder, with
some members having held season tickets since Dodger Stadium
opened in 1962," attorneys for the group said in court papers
filed Aug. 16.

The Sinatra family holds the tickets in the name of Frank Sinatra
and a family lawyer, Robbin L. Itkin, an attorney representing the
ticket holders, said in an e-mail to Bloomberg.  The court papers
show that Sinatra became a season ticket holder in 1958, the year
the Dodgers moved from Brooklyn, New York, to Los Angeles.

Separately, the Los Angeles Dodgers can put off a decision on
whether to assume or reject an eight-year contract with the team's
souvenir retailer, a judge ruled Aug. 16, according to the
Bloomberg report.

                   About the Los Angeles Dodgers

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

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

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

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

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

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


LOS ANGELES DODGERS: Merchandiser Can't Compel Decision on Pact
---------------------------------------------------------------
Lance Duroni at Bankruptcy Law360 reports that a Delaware
bankruptcy judge on Tuesday refused a demand from the Los Angeles
Dodgers' official merchandiser to compel the team to either assume
or reject its contract, ruling it cannot renege on a bargain by
which the team is abiding.

Law360 says Facility Merchandising Inc. - which has an exclusive
contract to sell jerseys, hats and other souvenirs at Dodgers
stadium - moved in July to force the team to make a decision on
the contract before the end of baseball season.

                     About the Los Angeles Dodgers

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

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

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

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

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

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


LOUISVILLE ORCHESTRA: Bankruptcy Judge Approves Restructuring Plan
------------------------------------------------------------------
A federal bankruptcy judge has approved the Louisville Orchestra
Inc.'s plan to restructure its finances, attention turns to
working out a contract with its musicians.

With the confirmation, Louisville Orchestra Inc. is set to move
out of bankruptcy just weeks before the opening of its next
season, according to American Bankruptcy Institute.

Elizabeth Kramer at the Courier-Journal reports that in approving
the plan and clearing the way for the orchestra to leave the
court's supervision, U.S. Bankruptcy Judge David T. Stosberg
turned back objections raised by the musicians' pension plan,
according to the report.

"It's time for this case to be out of bankruptcy court," Judge
Stosberg said after at the end of a hearing Monday, adding that
the decision would give the orchestra and its musicians an
opportunity to focus on contract talks.

Orchestra chief executive Robert Birman pledged to negotiate
toward a contract with the American Federation of Musicians, but
noted the orchestra could pursue agreements with non-union
musicians.

According to the report, the reorganization plan spans three years
and during the next 14 days, the orchestra will pay major
creditors a fraction of what they are owed.  A majority of the
creditors had voted in favor of the reorganization plan.

The report says the orchestra has negotiated with Chase to pay
$175,000 of the $350,000 it owes and with Fifth Third Bank to pay
a $155,000 debt through a donation.  It will pay $44,000 of the
$68,000 it owes the Kentucky Center in monthly payments spread out
over the next three years.

The report adds, under the plan, the orchestra will pay in full
the $43,486 it owes the musicians' pension fund.  The pension plan
and two other creditors voted against the reorganization.

                    About Louisville Orchestra

Based in Louisville, Kentucky, Louisville Orchestra, Inc. filed
for Chapter 11 bankruptcy protection (Bankr. W.D. Ky. Case No. 10-
36321) on Dec. 3, 2010.  Judge David T. Stosberg presides over the
case.  Daniel T. Albers, Jr., Esq., Mark A. Robinson, Esq., and
Robert Wagner, Esq., at Valenti Hanley & Robinson PLLC, represent
the Debtor.  In its schedules, Louisville Orchestra disclosed it
had $412,000 in assets and $1.4 million in liabilities.


LYMAN LUMBER: Committee Taps Alliance Management as Consultant
--------------------------------------------------------------
Dow Jones' DBR Small Cap reports that Lyman Lumber Company's
official committee of unsecured creditors seeks permission from
the U.S. Bankruptcy Court in Minneapolis to hire Alliance
Management as financial and turnaround consultant.

                         About Lyman Lumber

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

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

BGA Management, LLC d/b/a Alliance Management, which developed and
executed a sale process and marketing strategy for the Debtors'
assets, may be reached at:

          James Cullen
          ALLIANCE MANAGEMENT
          Carlson Towers 110
          601 Carlson Parkway
          Minneapolis, MN 55305
          Tel: 952-475-2225
          http://www.alliancemgmt.com/


MAGNETEK INC: Won't Make Benefit Pension Plan Contributions
-----------------------------------------------------------
Magnetek Inc. has an underfunded defined benefit pension plan that
was frozen in 2003.  Based mainly on the number of participants
and decreasing interest rates over the past several years, both
the annual pension expense as calculated under U.S. generally
accepted accounting principles as well as Company contributions to
the pension plan, as calculated under the Pension Protection Act
of 2006 as amended, have been significant for the past several
years.

In response to the level of the Company's projected pension
funding obligations relative to its current operating cash flows,
the Company filed an application with the IRS in February 2011 for
a waiver of its minimum funding requirements (contributions) for
the pension plan year 2011.  The amount of the funding waiver
requested was approximately $17 million, scheduled to be funded in
quarterly installments from April 2011 through January 2012, with
a final installment due in September 2012.  Due to the pending
funding waiver application, the Company is not required to make
scheduled plan year 2011 contributions until the Company is
notified by the IRS of a decision concerning the funding waiver.
As a result, two scheduled quarterly installments of $3.3 million
due in April 2011 and July 2011 have not been made.

In the event the funding waiver is granted, the 2011 plan year
scheduled contributions of $17 million would be deferred and
amortized with interest over plan years 2012 through 2016.  In the
event the funding waiver is not granted, the Company would be
obligated to make its plan year 2011 minimum funding contributions
by September 2012 at the latest, with the contribution amount
increasing due to interest and penalties through the actual date
of contribution.  The current rate of interest is approximately 6%
while the current penalty rate, applied to the late period only,
is 5%.

"As evidenced by our strong positive cash flow in the fourth
quarter of fiscal 2011, receipt of a funding waiver would have a
significant favorable impact on our cash flow over the next
several quarters.  The funding waiver would also enable us to
increase our cash reserves while providing increased resources for
investments in growth opportunities.  In addition, any increase in
interest rates during the waiver period could have a significant
favorable impact on the Company's funding obligation as measured
upon expiration of the waiver period," said Mr. McCormick.

The Company measured its pension plan for accounting purposes
(GAAP) as of the end of fiscal 2011.  The Company's pension plan
assets were approximately $133 million as of July 3, 2011, while
the projected benefit obligation was estimated at $194 million
using a discount rate assumption of 5.15%.  As a result, the
Company adjusted its balance sheet liability as of July 3, 2011,
to $61 million, down from $78 million a year ago.

GAAP pension expense for the next 12 months is expected to total
$5.5 million, a decrease of approximately $1.0 million from fiscal
2011 pension expense.  The expected decrease in non-cash pension
expense from fiscal 2011 levels is due mainly to higher pension
plan asset values resulting from contributions made in fiscal 2011
as well as greater than expected returns on assets experienced
during fiscal 2011.  The Company also decreased its expected
return rate on assets to 8.25%, down from 8.5% in fiscal 2011.

Turning to pension funding obligations, which impact cash flows,
the Company has made cash contributions to the pension plan of
more than $66 million since December 2006.  The net present value
of the future funding obligation as of July 3, 2011, approximates
the balance sheet liability of $61 million at that date, assuming
a discount rate of 5.15%.  In the event the funding waiver is
granted, the Company currently expects pension contributions to
total less than $6 million over the next 12 months.  If the
funding waiver is not granted, pension contributions over the next
12 months would be expected to total approximately $19 million.
The Company expects a final decision on the funding waiver to be
made by the IRS during the current transition period.

A full text copy of the company's fourth quarter results is
available free at:

                http://ResearchArchives.com/t/s?76b0

                        About Magnetek Inc.

Magnetek, Inc. provides digital power control systems that are
used to control motion and power primarily in material handling,
elevator and energy delivery applications.  The Company is
headquartered in Menomonee Falls, Wis.


MARCO POLO SEATRADE: Gets 44 Days to File Schedules & Statements
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
extended the deadline of Marco Polo Seatrade B.V. and certain of
its affiliates for an additional 30 days, or 45 days from the
Petition Date, to file their schedules of assets and liabilities,
schedules of current income and expenditures, schedules of
executory contracts and unexpired leases and statements of
financial affairs.

Pursuant to Section 521 of the Bankruptcy Code and Rule 1007(c) of
the Federal Rules of Bankruptcy Procedure, the Debtors would be
required to file the Schedules and Statements within 14 days after
the Petition Date.  However, the Court is authorized to extend the
filing deadline for cause by Bankruptcy Rules 1007(c) and 9006(b).

The Debtors said they were forced to file for bankruptcy with less
than 24 hours notice.  The Debtors said the scope and complexity
of their businesses, coupled with the limited time and resources
available to them to gather the required information and prepare
and file their Schedules and Statements, warrant an extension of
the filing deadline.  While the Debtors have commenced, and are in
the process of, gathering the necessary information, it will be
close to impossible to properly and accurately complete and file
the Schedules and Statements within the 14-day period after the
Petition Date as provided by Bankruptcy Rule 1007(c).

                     About Marco Polo Seatrade

Marco Polo Seatrade B.V. operates an international commercial
vessel management company that specializes in providing commercial
and technical vessel management services to third parties.
Founded in 2005, the Company mainly operates under the name of
Seaarland Shipping Management and maintains corporate headquarters
in Amsterdam, the Netherlands.  The primary assets consist of six
tankers that are regularly employed in international trade, and
call upon ports worldwide.

Marco Polo and three affiliated entities filed for Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 11-13634) on July 29,
2011.  The other affiliates are Seaarland Shipping Management
B.V.; Magellano Marine C.V.; and Cargoship Maritime B.V.

Marco Polo is the sole owner of Seaarland, which in turn is the
sole owner of Cargoship, and also holds a 5% stake in Magellano.
The remaining 95% stake in Magellano is owned by Amsterdam-based
Poule B.V., while another Amsterdam company, Falm International
Holding B.V. is the sole owner of Marco Polo.  Falm and Poule
didn't file bankruptcy petitions.

The filings were prompted after lender Credit Agricole Corporate &
Investment Bank seized one ship on July 21, 2011, and was on the
cusp of seizing two more on July 29.  The arrest of the vessel was
authorized by the U.K. Admiralty Court.  Credit Agricole also
attached a bank account with almost $1.8 million on July 29.  The
Chapter 11 filing precluded the seizure of the two other vessels.

Evan D. Flaschen, Esq., Robert G. Burns, Esq., and Andrew J.
Schoulder, Esq., at Bracewell & Giuliani LLP, serve as bankruptcy
counsel.  The cases are before Judge James M. Peck.

The petition said assets and debt are both more than $100 million
and less than $500 million.


MORGAN'S FOODS: Amends GE Forbearance to Include Waiver Agreement
-----------------------------------------------------------------
Morgan's Foods, Inc., previously disclosed that it entered into a
Limited Forbearance Agreement on July 29, 2011, with GE Capital
Corp., one of its primary lenders.  On Aug. 10, 2011, that Limited
Forbearance Agreement was amended to include the waiver of
prepayment penalties on that portion of GECC's loans to the
Company which contain prepayment penalty provisions.  The waiver
agreement requires that all loans of GECC to the Company be paid
off and expires if the loans are not paid off by Dec. 31, 2011.

Also, on Aug. 10, 2011, the Company entered into a letter
agreement with BNY Mellon waiving the prepayment penalties on the
debt serviced by it which is contained in a certain trust.  That
trust contains substantially all of the debt serviced by BNY that
is owed by the Company.  The remaining two trusts are not affected
by the waiver agreement and both the balances contained in them
and the potential prepayment penalties represented by them are not
significant to the total of the Company's debt serviced by BNY.
The agreement requires that the entire balance of the trust be
paid off by Dec. 31, 2011.

                       About Morgan's Foods

Cleveland, Ohio-based Morgan's Foods, Inc., which was formed in
1925, operates through wholly-owned subsidiaries KFC restaurants
under franchises from KFC Corporation, Taco Bell restaurants under
franchises from Taco Bell Corporation, Pizza Hut Express
restaurants under licenses from Pizza Hut Corporation and an A&W
restaurant under a license from A&W Restaurants, Inc.

As of May 20, 2011, the Company operates 56 KFC restaurants,
5 Taco Bell restaurants, 10 KFC/Taco Bell "2n1's" under franchises
from KFC Corporation and franchises from Taco Bell Corporation,
3 Taco Bell/Pizza Hut Express "2n1's" under franchises from Taco
Bell Corporation and licenses from Pizza Hut Corporation,
1 KFC/Pizza Hut Express "2n1" under a franchise from KFC
Corporation and a license from Pizza Hut Corporation and 1 KFC/A&W
"2n1" operated under a franchise from KFC Corporation and a
license from A&W Restaurants, Inc.

Grant Thornton LLP, in Cleveland, Ohio, expressed substantial
doubt about Morgan's Foods' ability to continue as a going
concern.  The independent auditors noted that as of Feb. 27, 2011,
the Company was in default and cross default of certain provisions
of its most significant credit agreements and in default of the
image enhancement requirements under franchise agreements for
certain of its restaurants.

The Company reported a net loss of $988,000 on $89.9 million of
revenues for the fiscal year ended Feb. 27, 2011, compared with
net income of $396,000 on $90.5 million of revenues for the fiscal
year ended Feb. 28, 2010.

The Company's balance sheet at May 22, 2011, showed $43.03 million
in total assets, $42.62 million in total liabilities and $418,000
in total shareholders' equity.


MORGANS HOTEL: Accommodations Acquisition Holds 5.6% Equity Stake
-----------------------------------------------------------------
In a Schedule 13D filing with the U.S. Securities and Exchange
Commission, Accommodations Acquisition Corporation and Vector
Group Ltd. disclosed that they beneficially own 1,712,447 shares
of common stock of Morgans Hotel Group Co. representing 5.6% of
the shares outstanding.  The number of shares outstanding of the
Company's common stock, par value $0.01 per share, as of Aug. 8,
2011, was 30,522,194.  A full-text copy of the regulatory filing
is available for free at http://is.gd/p9cI1Y

                      About Morgans Hotel Group

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

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

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


MOUNTAIN PROVINCE: Incurs C$2.4-Mil. Net Loss in Second Quarter
---------------------------------------------------------------
Mountain Province Diamonds Inc. filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 6-K reporting a
net loss of C$2.38 million on C$76,091 of interest income for the
three months ended June 30, 2011, compared with a net loss of
C$2.73 million on C$22,142 of interest income for the same period
a year ago.

The Company also reported a net loss of C$4.48 million on
C$176,649 of interest income for the six months ended June 30,
2011, compared with a net loss of C$4.50 million on C$38,597 of
interest income for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed C$71.93
million in total assets, C$7.31 million in total liabilities and
C$64.62 million total shareholders' equity.

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

                        http://is.gd/YnNAwr

                      About Mountain Province

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

                           *     *     *

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


NETAL INC: Faces Dismissal or Chapter 7 Conversion
--------------------------------------------------
Bankruptcy Judge Timothy J. Mahoney denied confirmation of the
Plan of Reorganization and Combined Disclosure Statement filed by
Netal, Inc., saying the debtor has been unable to come to an
agreement with a significant creditor and does not have the funds
available to pay that creditor on a priority basis.  The plan
cannot be confirmed, the judge said.

The U.S. Trustee has sought to convert the case to a liquidation
under Chapter 7 of the Bankruptcy Code based upon the Debtor's
inability to obtain confirmation of the Chapter 11 plan.  That
motion is supported by the Contractors, Laborers, Teamsters &
Engineers Health & Welfare Plan; the Contractors, Laborers,
Teamsters & Engineers Pension Plan; and the International Union of
Operating Engineers, Local No. 571.  The United States on behalf
of the Internal Revenue Service objected.

The Debtor requested dismissal rather than conversion.  It is the
position of the Debtor and the Internal Revenue Service that the
tax authority has a lien on all of the remaining assets of the
debtor, which consist of accounts receivable.  Conversion of the
case would simply add a layer of administrative expense by the
appointment of a trustee and perhaps professionals for the trustee
to engage in collection efforts with regard to the accounts
receivable.  The Internal Revenue Service believes it has its own
collection ability and desires to be able to proceed against its
collateral.

The welfare plan and the pension plan and the union desire a
conversion to Chapter 7 because, in Chapter 7, at least a portion
of their claims would be payable ahead of the Internal Revenue
Service, pursuant to 11 U.S.C. Sec. 724.

Judge Mahoney said the case will be dismissed if the Debtor files
its Chapter 11 operating reports and pays the United States
Trustee fees by Sept. 1, 2011.  If the reports have not been
brought current or the payments have not been made by that date,
an order will be entered converting the case to Chapter 7.

A copy of Judge Mahoney's Aug. 15, 2011 Order is available at
http://is.gd/nZTf1Yfrom Leagle.com.

Netal Inc. filed for Chapter 11 bankruptcy (Bankr. D. Neb. Case
No. 09-82992) in 2009.


NEW STREAM: Has Until Sept. 7 to File Exclusively Propose Plan
--------------------------------------------------------------
The Hon. Mary F. Walrath of the U.S. Bankruptcy Court for the
District of Delaware extended the exclusive periods of New Stream
Secured Capital Inc. and its debtor-affiliates to file a Chapter
11 plan until Sept. 7, 2011, and solicit acceptances of that plan
until Nov. 7, 2011.

New Stream said the prepackaged plan filed with the Chapter 11
petition in March has been "indefinitely sidelined" as the result
of disagreements among creditors over the "priority and extent of
liens."

Bill Rochelle at Bloomberg recounted that New Stream said upon
entering Chapter 11 that the plan had been accepted by the
required majorities of creditors.  Facing opposition from the
official creditors' committee and a group that invested $90
million in New Stream's U.S. and Cayman Island funds, New Stream
previously agreed not to go ahead with approval of the plan at an
April confirmation hearing.  The objecting investors filed
involuntary Chapter 11 petitions against three New Stream funds
not among those who filed the prepackaged petitions.

                         About New Stream

New Stream is an inter-related group of companies that
collectively comprise an investment fund, headquartered in
Ridgefield, Connecticut.  Founded in 2002, New Stream focuses on
providing non-traded private debt to the insurance, real estate
and commercial finance sectors.

On March 7, 2011, when New Stream was still soliciting votes on
the Chapter 11 plan, certain investors filed a petition (Bankr. D.
Del. Lead Case No. 11-10690) seeking to force three New Stream
funds -- New Stream Secured Capital Fund (U.S.) LLC, New Stream
Secured Capital Fund P1 (Cayman), Ltd. and New Stream Secured
Capital Fund K1 (Cayman), Ltd. -- to Chapter 11 bankruptcy.

The petitioning investors in the New Stream investment enterprise
say they are collectively owed over $90 million, representing
roughly 28% of the approximately $320 million owed to all U.S. and
Cayman investors. The Petitioners are represented by (i) Joseph
H. Huston, Jr., Esq., Maria Aprile Sawczuk, Esq., Meghan A.
Cashman, Esq., at Stevens & Lee, P.C., in Wilmington, Delaware,
and Beth Stern Fleming, Esq., at Stevens & Lee, P.C., in
Philadelphia, Pennsylvania, and Nicholas F. Kajon, Esq., David M.
Green, Esq., and Constantine Pourakis, Esq., at Stevens & Lee,
P.C., in New York, (ii) Edward Toptani, Esq., at Toptani Law
Offices, in New York, and (iii) John M Bradham, Esq., and David
Hartheimer, Esq., at Mazzeo Song & Bradham LLP, in New York.

New Stream Secured Capital, Inc., and three affiliates (New Stream
Insurance, LLC, New Stream Capital, LLC, and New Stream Secured
Capital, L.P.) filed Chapter 11 petitions (Bankr. D. Del. Lead
Case No. 11-10753) on March 13, 2011, with a proposed prepackaged
Chapter 11 plan.

Kurt F. Gwynne, Esq., J. Cory Falgowski, Esq., Michael J.
Venditto, Esq., and Scott M Esterbrook, Esq., at Reed Smith LLP,
serve as the Debtors' bankruptcy counsel. Kurtzman Carson
Consultants LLC is the Debtors' claims and notice agent.

NSSC, Inc., estimated its assets and debts at up to $50,000. NSC
estimated its assets at $100,000 to $500,000 and debts at $50,000
to $100,000. NSI estimated its assets at $100 million to
$500 million and debts at $50 million to $100 million. NSSC, LP,
estimated its assets and debts at $500 million to $1 billion.

NSI's insurance portfolio is being sold for $184.35 million as
part of the Chapter 11 plan. The aggregate indebtedness secured
by the investment portfolio of NSSC is $688,412,974. NSI owes
$81,573,376 to certain account classes under a Bermuda fund.

The Official Committee of Unsecured Creditors proposes to hire
Kurtzman Carson Consultants LLC as its communications agent;
Houlihan Lokey Howard & Zukin Capital, Inc., as its financial
advisor and investment banker; and Zolfo Cooper, LLC, as its
forensic accountants and litigation support consultants.

New Stream completed a sale of its assets on June 3.  New Stream
sold the portfolio of life-insurance policies to an affiliate of
McKinsey & Co. for $127.5 million.  There were no competing bids
at auction.


NEW STREAM: Court OKs Houlihan as Committee's Investment Banker
---------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware approved
the motion the Official Committee of Unsecured Creditors in the
Chapter 11 cases of New Stream Secured Capital, Inc., et al., to
retain Houlihan Lokey Howard & Zukin Capital, Inc., nunc pro tunc
to, and effective as of, April 8, 2011, as financial advisor and
investment banker.

The Committee relates that on May 16, 2011, the Court held a
hearing on the original application and stated that Houlihan is
entitled to a flat fee under -- or a fee under 328 going forward.

Following the hearing, Houlihan Lokey, after consultation with the
creditors' Committee and the Creditors' Committee's attorneys,
determined that it would withdraw from its engagement by the
Creditors' Committee, effective as of May 16.

By the amended application, the Creditors' Committee seeks to
retain Houlihan Lokey for the time period from April 8, through
May 16.  Houlihan Lokey would file a final fee application seeking
payment of $188,709 for its monthly fee on a pro-rated basis, well
as for reimbursement of its out-of-pocket expenses in the amount
of $32,442.

Michael Morrison and Charles Thresh, the joint NSSC receivers, and
John McKenna, the NSI receiver, who all filed objections to the
original application, have agreed to the terms of the retention.

                         About New Stream

New Stream is an inter-related group of companies that
collectively comprise an investment fund, headquartered in
Ridgefield, Connecticut. Founded in 2002, New Stream focuses on
providing non-traded private debt to the insurance, real estate
and commercial finance sectors.

On March 7, 2011, when New Stream was still soliciting votes on
the Chapter 11 plan, certain investors filed a petition (Bankr. D.
Del. Lead Case No. 11-10690) seeking to force three New Stream
funds -- New Stream Secured Capital Fund (U.S.) LLC, New Stream
Secured Capital Fund P1 (Cayman), Ltd. and New Stream Secured
Capital Fund K1 (Cayman), Ltd. -- to Chapter 11 bankruptcy.

The petitioning investors in the New Stream investment enterprise
say they are collectively owed over $90 million, representing
roughly 28% of the approximately $320 million owed to all U.S. and
Cayman investors. The Petitioners are represented by (i) Joseph
H. Huston, Jr., Esq., Maria Aprile Sawczuk, Esq., Meghan A.
Cashman, Esq., at Stevens & Lee, P.C., in Wilmington, Delaware,
and Beth Stern Fleming, Esq., at Stevens & Lee, P.C., in
Philadelphia, Pennsylvania, and Nicholas F. Kajon, Esq., David M.
Green, Esq., and Constantine Pourakis, Esq., at Stevens & Lee,
P.C., in New York, (ii) Edward Toptani, Esq., at Toptani Law
Offices, in New York, and (iii) John M Bradham, Esq., and David
Hartheimer, Esq., at Mazzeo Song & Bradham LLP, in New York.

New Stream Secured Capital, Inc., and three affiliates (New Stream
Insurance, LLC, New Stream Capital, LLC, and New Stream Secured
Capital, L.P.) filed Chapter 11 petitions (Bankr. D. Del. Lead
Case No. 11-10753) on March 13, 2011, with a proposed prepackaged
Chapter 11 plan.

Kurt F. Gwynne, Esq., J. Cory Falgowski, Esq., Michael J.
Venditto, Esq., and Scott M Esterbrook, Esq., at Reed Smith LLP,
serve as the Debtors' bankruptcy counsel. Kurtzman Carson
Consultants LLC is the Debtors' claims and notice agent.

NSSC, Inc., estimated its assets and debts at up to $50,000. NSC
estimated its assets at $100,000 to $500,000 and debts at $50,000
to $100,000. NSI estimated its assets at $100 million to
$500 million and debts at $50 million to $100 million. NSSC, LP,
estimated its assets and debts at $500 million to $1 billion.

NSI's insurance portfolio is being sold for $184.35 million as
part of the Chapter 11 plan. The aggregate indebtedness secured
by the investment portfolio of NSSC is $688,412,974. NSI owes
$81,573,376 to certain account classes under a Bermuda fund.

The Official Committee of Unsecured Creditors proposes to hire
Kurtzman Carson Consultants LLC as its communications agent;
Houlihan Lokey Howard & Zukin Capital, Inc., as its financial
advisor and investment banker; and Zolfo Cooper, LLC, as its
forensic accountants and litigation support consultants.

New Stream completed a sale of its assets on June 3.  New Stream
sold the portfolio of life-insurance policies to an affiliate of
McKinsey & Co. for $127.5 million.  There were no competing bids
at auction.


NEW STREAM: $94MM Settlement Payment with NSI Receiver Approved
---------------------------------------------------------------
The Hon. Mary F. Walrath of the U.S. Bankruptcy Court for the
District of Delaware approved the compromise and settlement
agreement among New Stream Secured Capital, Inc., et al., New
Stream Insurance, LLC secured lenders, and NSI receiver.

John McKenna, is the receiver for segregated account Classes C, F,
and I of New Stream Capital Fund Ltd. Settlement.

As reported in the Troubled Company Reporter on July 15, 2011, New
Stream Capital LLC negotiated a settlement with some investors in
its U.S. and Cayman Islands funds who filed involuntary bankruptcy
petitions and were opposing a prepackaged Chapter 11 plan
negotiated in advance of the Chapter 11 filing in
March.  The settlement was made feasible by completion of the sale
in June of New Stream's portfolio of life insurance policies.  The
sale to an affiliate of McKinsey & Co. Inc. generated $124.3
million.

The creditors who invested $90 million in U.S. and Cayman Island
funds were disputing what New Stream characterized as the
"priority and extent of liens."  In the settlement, the secured
lender, which claims to be owed $107 million as of July 31, will
accept $93.75 million.  The secured lender will provide $20.3
million for distribution pro rata to U.S. and Cayman investors who
grant releases.

The settlement agreement provides that, among other things:

   -- the proofs of claim filed by the NSI Receiver for segregated
   account classed C, F, and I of New Stream Capital Fund Ltd. and
   designated as claim numbers 78, 79, 80, 81, 82 and 83 on the
   claims register are allowed as  secured claims in the aggregate
   amount of $93,750,000.

   -- NSI will pay the NSI Receiver $93,750,000 from the proceeds
   of the sale of certain of its assets to MIO Partners.

      *$73,450,000 of the settlement payment will be distributable
      on account of the Bermuda C,F, and I Classes in accordance
      with these allocations:

         Account Holder                  Allocation Percentage
         --------------                  ---------------------
         Class C                                57.84%
         Class F                                23.77%
         Class I                                18.39%

       *$10,150,000 of the settlement cash payment will be held in
       trust in an account or accounts designated and controlled
       by the NSI receiver.

   -- if prior to the $10,150,000 distribution date, an alleged
   litigation event will have occurred, NSi will provide written
   notice of the event to counsel to the NSI Litigation Claimants,
   Steven & Lee, P.C. and the NSI receiver.

The settlement payment will constitute full payment, satisfaction
and discharge of allowed C, F, and I secured claim.

                         About New Stream

New Stream is an inter-related group of companies that
collectively comprise an investment fund, headquartered in
Ridgefield, Connecticut. Founded in 2002, New Stream focuses on
providing non-traded private debt to the insurance, real estate
and commercial finance sectors.  New Stream chiefly invested in
the so-called life settlement market, where life insurance
policies are purchased for less than the death benefit from owners
of policies on individuals' lives.

On March 7, 2011, when New Stream was still soliciting votes on
the Chapter 11 plan, certain investors filed a petition (Bankr. D.
Del. Lead Case No. 11-10690) seeking to force three New Stream
funds -- New Stream Secured Capital Fund (U.S.) LLC, New Stream
Secured Capital Fund P1 (Cayman), Ltd. and New Stream Secured
Capital Fund K1 (Cayman), Ltd. -- to Chapter 11 bankruptcy.

The petitioning investors in the New Stream investment enterprise
say they are collectively owed over $90 million, representing
roughly 28% of the approximately $320 million owed to all U.S. and
Cayman investors. The Petitioners are represented by (i) Joseph
H. Huston, Jr., Esq., Maria Aprile Sawczuk, Esq., Meghan A.
Cashman, Esq., at Stevens & Lee, P.C., in Wilmington, Delaware,
and Beth Stern Fleming, Esq., at Stevens & Lee, P.C., in
Philadelphia, Pennsylvania, and Nicholas F. Kajon, Esq., David M.
Green, Esq., and Constantine Pourakis, Esq., at Stevens & Lee,
P.C., in New York, (ii) Edward Toptani, Esq., at Toptani Law
Offices, in New York, and (iii) John M Bradham, Esq., and David
Hartheimer, Esq., at Mazzeo Song & Bradham LLP, in New York.

New Stream Secured Capital, Inc., and three affiliates -- New
Stream Insurance, LLC, New Stream Capital, LLC, and New Stream
Secured Capital, L.P. -- filed Chapter 11 petitions (Bankr. D.
Del. Lead Case No. 11-10753) on March 13, 2011, with a proposed
prepackaged Chapter 11 plan.

Kurt F. Gwynne, Esq., J. Cory Falgowski, Esq., Michael J.
Venditto, Esq., and Scott M. Esterbrook, Esq., at Reed Smith LLP,
serve as the Debtors' bankruptcy counsel. Kurtzman Carson
Consultants LLC is the Debtors' claims and notice agent.

NSSC Inc. estimated its assets and debts at up to $50,000. NSC
estimated its assets at $100,000 to $500,000 and debts at $50,000
to $100,000. NSI estimated its assets at $100 million to
$500 million and debts at $50 million to $100 million. NSSC LP
estimated its assets and debts at $500 million to $1 billion.

NSI's insurance portfolio is being sold for $184.35 million as
part of the Chapter 11 plan. The aggregate indebtedness secured
by the investment portfolio of NSSC is $688,412,974. NSI owes
$81,573,376 to certain account classes under a Bermuda fund.

The Official Committee of Unsecured Creditors hired Kurtzman
Carson Consultants LLC as its communications agent; Houlihan Lokey
Howard & Zukin Capital, Inc., as its financial advisor and
investment banker; and Zolfo Cooper, LLC, as its forensic
accountants and litigation support consultants.

New Stream completed a sale of its assets on June 3.  New Stream
sold the portfolio of life-insurance policies to an affiliate of
McKinsey & Co. for $127.5 million.  There were no competing bids
at auction.


NNN 2003: Incurs $125,000 Consolidated Net Loss in Q2
-----------------------------------------------------
NNN 2003 value Fund, LLC, filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q reporting a
consolidated net loss of $125,000 on $0 of interest and dividend
income for the three months ended June 30, 2011, compared with a
consolidated income of $1.86 million on $7,000 of interest and
dividend income for the same period during the prior year.

The Company also reported a consolidated net income of $13.14
million on $0 of interest and dividend income for the six months
ended June 30, 2011, compared with a consolidated net income of
$420,000 on $20,000 of interest and dividend income for the same
period during the prior year.

The Company's balance sheet at June 30, 2011, showed $892,000 in
total assets, $321,000 in total liabilities and $571,000 in total
equity.

The Company reported a consolidated net loss of $493,000 on
$6.85 million of rental revenue of operations held for non-sale
disposition for the year ended Dec. 31, 2010, compared with a
consolidated net loss of $9.09 million on $6.95 million of rental
revenue of operations held for non-sale disposition during the
prior year.

The Company said that as a result of the planned disposal of its
remaining property interest, there is substantial doubt about the
Company's ability to continue as a going concern.

Ernst & Young LLP, in its March 18, 2011 report accompanying the
Form 10-K report, noted that the Company has incurred recurring
losses and has a working capital deficiency.  In addition, the
Company has not complied with certain covenants of loan agreements
and does not have sufficient cash flow to repay mortgage loans
that are past due and in default.  These conditions raise
substantial doubt about the Company's ability to continue as a
going concern.

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

                        http://is.gd/KthrN3

                          About NNN 2003

Santa Ana, Calif.-based NNN 2003 Value Fund, LLC, was formed as a
Delaware limited liability company on June 19, 2003.  The Company
was organized to acquire, own, operate and subsequently sell its
ownership interests in a number of unspecified properties believed
to have higher than average potential for capital appreciation, or
value-added properties.  Grubb & Ellis Realty Investors, LLC,
serves as the Fund's manager, pursuant to the terms of an
operating agreement.


NORTEL NETWORKS: Disability Participants Committee Formed
---------------------------------------------------------
Roberta A. Deangelis, United States Trustee for Region 3, under 11
U.S.C. Sec. 1102(a) and (b), appointed seven persons who are
willing to serve on the Committee of Long-Term Disability
Participants of Nortel Networks:

      1. Wendy Boswell Mann
         2114 Claret Lane
         Morrisville
         NC 27560
         E-Mail: wbmann@nc.rr.com

      2. Daniel D. David
         2105 Possum Trot Road
         Wake Forest
         NC 27587
         E-Mail: ddavid4@nc.rr.com

     3.  Dianna L. Irish
         235 Atrium Court
         Warner Robins
         GA 31088
         E-Mail: midijd@yahoo.com

     4.  Paul E. Morrison
         2241 College Ave.
         Quincy, IL 62301
         E-Mail: pemqcy@gmail.com

     5.  Barbara Gallagher
         410 West Acres Rd.
         Whitesboro, TX 76273
         E-mail: ballyglas@poboxd.com

      6. Michael Stutts
         1616 Hastings Bluff
         McKinney, TX 75070
         E-Mail: michaelstutts@sbcglobal.net
      7. Deborah Jones
         8 Fairview Acres
         Wellsboro, PA 16901
         E-Mail: the_dudette@hotmail.com

This is an amended notice from the U.S. Trustee dated Aug. 4,
2011.  The first one was published on Aug. 2, 2011.

                       About Nortel Networks

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

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

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

Nortel Networks Inc. and 14 affiliates filed separate Chapter 11
petitions (Bankr. D. Del. Case No. 09-10138) on Jan. 14, 2009.
Judge Kevin Gross presides over the case.  James L. Bromley, Esq.,
at Cleary Gottlieb Steen & Hamilton, LLP, in New York, serves as
general bankruptcy counsel; Derek C. Abbott, Esq., at Morris
Nichols Arsht & Tunnell LLP, in Wilmington, serves as Delaware
counsel.  The Chapter 11 Debtors' other professionals are Lazard
Freres & Co. LLC as financial advisors; and Epiq Bankruptcy
Solutions LLC as claims and notice agent.  Fred S. Hodara, Esq.,
at Akin Gump Strauss Hauer & Feld LLP, in New York, and
Christopher M. Samis, Esq., at Richards, Layton & Finger, P.A., in
Wilmington, Delaware, represent the Official Committee of
Unsecured Creditors.

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

Nortel Networks divested off key assets while in Chapter 11.
Nortel has raised $3.2 billion by selling its operations as it
prepares to wind up a two-year liquidation due to insolvency.

In June 2011, Nortel added US$4.5 billion to its cash pile after
agreeing to sell its remaining patent portfolio to Rockstar Bidco,
LP, a consortium consisting of Apple Inc., EMC Corporation,
Telefonaktiebolaget LM Ericsson, Microsoft Corp., Research In
Motion Limited, and Sony Corporation.  The consortium defeated a
$900 million stalking horse bid by Google Inc. at an auction.  The
deal closed in July.

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


NORTEL NETWORKS: Retired Staff Committee Formed
-----------------------------------------------
Roberta A. Deangelis, United States Trustee for Region 3, under 11
U.S.C. Sec. 1102(a) and (b), appointed five persons who are
willing to serve on the Committee of Retired Employees of Nortel
Networks.

The Retired Employees Committee now comprises:

      1. Gary R. Donahee, Chairman
         5517 St. Andrews Court
         Plano, TX 75093
         E-Mail: gdonahee@me.com

      2. Michael P. Ressner
         5909 Applegarth Lane
         Raleigh, NC 27614
         E-Mail: Michael@ressner.com

     3.  Susan Kane
         648 Lake Terrace Drive
         Nashville, TN 37217
         E-Mail: skane6@comcast.net

     4. John T. Zalokar
        6N426 Crescent Lane
        St. Charles, IL 60175
        E-Mail: jtzalokar@aol.com

     5. Mark Haupt
        10533 Tarton Field Circle
        Raleigh, NC 27617
        E-Mail: mmjh123@frontier.com

                       About Nortel Networks

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

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

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

Nortel Networks Inc. and 14 affiliates filed separate Chapter 11
petitions (Bankr. D. Del. Case No. 09-10138) on Jan. 14, 2009.
Judge Kevin Gross presides over the case.  James L. Bromley, Esq.,
at Cleary Gottlieb Steen & Hamilton, LLP, in New York, serves as
general bankruptcy counsel; Derek C. Abbott, Esq., at Morris
Nichols Arsht & Tunnell LLP, in Wilmington, serves as Delaware
counsel.  The Chapter 11 Debtors' other professionals are Lazard
Freres & Co. LLC as financial advisors; and Epiq Bankruptcy
Solutions LLC as claims and notice agent.  Fred S. Hodara, Esq.,
at Akin Gump Strauss Hauer & Feld LLP, in New York, and
Christopher M. Samis, Esq., at Richards, Layton & Finger, P.A., in
Wilmington, Delaware, represent the Official Committee of
Unsecured Creditors.

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

Nortel Networks divested off key assets while in Chapter 11.
Nortel has raised $3.2 billion by selling its operations as it
prepares to wind up a two-year liquidation due to insolvency.

In June 2011, Nortel added US$4.5 billion to its cash pile after
agreeing to sell its remaining patent portfolio to Rockstar Bidco,
LP, a consortium consisting of Apple Inc., EMC Corporation,
Telefonaktiebolaget LM Ericsson, Microsoft Corp., Research In
Motion Limited, and Sony Corporation.  The consortium defeated a
$900 million stalking horse bid by Google Inc. at an auction.  The
deal closed in July.

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


OTERO COUNTY HOSPITAL: Files for Chapter 11 Due to QHR Woes
-----------------------------------------------------------
Otero County Hospital Association Inc. filed for Chapter 11
protection (Bankr. D. N.M. Case No. 11-13686) in Albuquerque, New
Mexico, on Aug. 16, listing as assets of as much as $500 million
and debt of as much as $100 million.

The Alamogordo, New Mexico-based nonprofit developed and operates
the Gerald Champion Regional Medical Center.  GCRMC serves a total
population of approximately 70,000 people.

GCRMC relies upon a workforce of approximately 704 employees,
including approximately 562 full time employees and 142 part time
or as-needed employees.  On an annualized basis, GCRMC pays
approximately $37.7 million in wages and salaries to its employees
and an additional approximately $8.6 million in benefits.

Since 1986, GCRMC has contracted the day to day management of the
Hospital and its other healthcare services to Quorum Health
Resources, LLC.  QHR specializes in the management of community
hospitals and currently has 150 hospitals under management.

William Morgan Hay, CFO, said in a court filing that since June
2010, GCRMC, along with QHR and a number of other defendants, has
been subject to an onslaught of personal injury lawsuits stemming
from a series of procedures performed at the Hospital between 2006
and 2008.  In total, 47 individuals who underwent such procedures
have filed the Lawsuits.  Only two physicians, one operating
independently and one employed by the Hospital, were involved in
some manner with the Lawsuits.  Currently, neither of the
physicians implicated in the Lawsuits have any affiliation with
GCRMC.  Although the physicians are no longer with GCRMC, GCRMC's
potential exposure in connection with the Lawsuits remains and
poses a significant threat to its ability to effectively carry out
its mission.  As the sole community healthcare provider in Otero
County, the pendency of the Lawsuits has affected GCRMC's ability
to raise the funds necessary to continue to meet the current and
future healthcare needs of the community.

GCRMC disputes the claims asserted in the Lawsuits, but recognizes
that it faces significant uncertainty as well as administrative
and financial burdens in defending the Lawsuits.

Indeed, the Lawsuits have already impacted GCRMC's ability to
obtain financing.  GCRMC voluntarily filed its Chapter 11 petition
with the objective of resolving the Lawsuits in a fair,
reasonable, and efficient manner while ensuring its long-term
stability for the benefit of the community it serves, according to
Mr. Hay.

                          Lawsuits

According to a statement by the Debtor, the board of directors of
GCRMC authorized the filing in order to ensure the hospital's
immediate and long-term ability to provide critical healthcare
services to more than 70,000 people in Otero and its neighboring
counties while creating an orderly process to resolve a group of
lawsuits in a fair and timely manner.  The majority of the
lawsuits were filed between June and October 2010 and relate to
procedures that have not been performed at the hospital for nearly
three years, by physicians who no longer work at the hospital.
All efforts to resolve these lawsuits have been unsuccessful.

"Since the filing of the lawsuits GCRMC has been unable to
raise capital needed to invest in the expanded facilities and
to continue updating our medical equipment and technology.
Additionally, we are unable to move forward on various clinical
services' initiatives to improve access to care for our
community," said Jim Heckert, Chief Executive Officer of GCRMC.
"It is critical that we be able to fund our community's current
and future healthcare needs.  There is a direct correlation
between the growth of needed services and the long-term viability
of the hospital, which is more than 75 miles from the nearest
comparable facility."

ModernHealthcare.com reports that according to bankruptcy filings,
the hospital is unable to extend a letter of credit expiring Nov.
15, 2012, because of the uncertainty concerning the suits.  As of
June 30, 2011, Gerald Champion's current assets, a measure of
liquidity, were approximately $32.1 million and current
liabilities, excluding the lawsuits, were approximately $20.2
million, a bankruptcy court filing notes.  But in November,
without any prospect of replacing or extending the line of credit,
the current liabilities will jump to approximately $57.1 million,
according to the filing.

The petition disclosed total assets of $153.8 million.

                      Employees to be Paid

The more than 700 current employees of the hospital will continue
to receive wages, salaries and benefits during the Chapter 11
process, and all vendors providing goods and services to the
hospital after the Chapter 11 filing will be paid in full for
those goods and services.  Also, in conjunction with the filing,
GCRMC intends to file a variety of first day motions that will
seek to limit the impact on vendors with respect to pre-filing
goods and services provided to the hospital to the fullest extent
permitted by the Bankruptcy Code.  GCRMC looks forward to
maintaining its longstanding relationships with all of its valued
vendors during and after the conclusion of its Chapter 11 case.

          Chapter 11 to Maintain Hospital's Viability

"This was a difficult decision for the board," said Norm Arnold,
chairman of the board of directors of GCRMC, "but Chapter 11
provides the hospital with a mechanism to resolve the lawsuits
fairly and efficiently.  We believe this is the most responsible
way to manage this unanticipated threat to the hospital's long-
term viability so that we can fully focus on our complex mission
of meeting the growing medical needs of our community."

                         About GCRMC

GCRMC is a not-for-profit 99-bed acute care facility located in
Alamogordo, N.M.  It has served the community for more than 60
years, and in 1999 moved into its new state-of-the-art medical
facility.  The hospital's services have continued to evolve and
additional services include: Cancer Center, Inpatient/Outpatient
Gero-psych services, Inpatient Rehabilitation, Joint Center,
Hospitalist Program, and Level III Trauma Center.  Complementing
the growth in services is a fully functional Inpatient Electronic
Record as well as digital radiology.  GCRMC has a longstanding
partnership with the Department of Defense allowing for Air Force
physicians from nearby Holloman Air Force Base to admit and treat
DoD beneficiaries in the hospital.  The hospital is the largest
non-governmental employer in Otero County.

The hospital has created a temporary telephone number for
interested community members to ask questions or leave recorded
messages to be responded to in a timely manner.  The number is
575-443-7849.


PATRIOT NATIONAL: Incurs $7.2 Million Net Loss in Second Quarter
----------------------------------------------------------------
Patriot National Bancorp, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q reporting a
net loss of $7.17 million on $7.16 million of total interest and
dividend income for the three months ended June 30, 2011, compared
with a net loss of $1.40 million on $9.40 million of total
interest and dividend income for the same period during the prior
year.

The Company also reported a net loss of $16.15 million on $14.53
million of total interest and dividend income for the six months
ended June 30, 2011, compared with a net loss of $4.53 million on
$19.09 million of total interest and dividend income for the same
period a year ago.

The Company's balance sheet at June 30, 2011, showed $648.20
million in total assets, $596.94 million in total liabilities and
$51.26 million in total shareholders' equity.

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

                        http://is.gd/OPh69R

                   About Patriot National Bancorp

Stamford, Conn.-based Patriot National Bancorp, Inc. (NASDAQ:
PNBK) is the parent company of Patriot National Bank, a national
banking association headquartered in Stamford, Fairfield County,
in Connecticut.  Patriot National Bank has 19 full service
branches, 16 in Connecticut and three in New York.

The Company reported a net loss of $15.40 million on
$35.61 million of total interest and dividend income for the year
ended Dec. 31, 2010, compared with a net loss of $23.88 million on
$42.97 million of total interest and dividend income during the
prior year.


QUANTUM FUEL: Files Form S-3; Registers $1.2-Mil. Common Shares
---------------------------------------------------------------
Quantum Fuel Systems Technologies Worldwide, Inc., filed with the
U.S. Securities and Exchange Commission a Form S-1 registration
statement relating to the resale by selling security holders of up
to 1,213,625 shares of the Company's common stock, consisting of
(i) 699,548 shares of common stock that were issued in a private
placement that the Company closed on July 6, 2011, and (ii)
514,077 shares of the Company's common stock issuable upon the
exercise of warrants issued in the July Private Placement.  The
Company is not selling any shares of common stock in this offering
and, therefore, will not receive any proceeds from this offering.
The Company will, however, receive proceeds from the exercise
price of the warrants if and when these warrants are exercised by
the selling security holders for cash. The Company will bear all
of the expenses and fees incurred in registering the shares
offered by this prospectus.

The Company's common stock is quoted on The Nasdaq Global Market
under the symbol "QTWW."  The last reported sale price of the
Company's common stock on Aug. 10, 2011, was $3.22 per share.  The
Company's warrants are not and will not be listed for trading on
any exchange.

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

                         http://is.gd/ng6ZmL

                         About Quantum Fuel

Based in Irvine, California, Quantum Fuel Systems Technologies
Worldwide, Inc., is a fully integrated alternative energy company
and considers itself a leader in the development and production of
advanced clean propulsion systems and renewable energy generation
systems and services.

Quantum Fuel and its senior lender, WB QT, LLC, entered into a
Ninth Amendment to Credit Agreement and a Forbearance Agreement on
Jan. 3, 2011.  The Senior Lender agreed to provide the Company
with a $5.0 million non-revolving line of credit, which may be
drawn upon at any time prior to April 30, 2011.  Advances under
the New Line of Credit do not bear interest -- unless an event of
default occurs, in which case the interest rate would be 10% per
annum -- and mature on April 30, 2011.  The Senior Lender also
agreed to forbear from accelerating the maturity date for any
portion of the Senior Debt Amount and from exercising any of its
rights and remedies with respect to the Senior Debt Amount until
April 30, 2011.

The Company reported a net loss attributable to stockholders of
$11.03 million on $20.27 million of total revenue for the year
ended Apri1 30, 2011, compared with a net loss attributable to
stockholders of $46.29 million on $9.60 million of total revenue
during the prior year.

The Company's balance sheet at April 30, 2011, $71.97 million in
total assets, $33.39 million in total liabilities and $38.57
million in total equity.

Ernst & Young LLP, in Orange County, California, noted that
Quantum Fuel's recurring losses and negative cash flows combined
with the Company's existing sources of liquidity and other
conditions raise substantial doubt about the Company's ability to
continue as a going concern.

                        Possible Bankruptcy

The Company anticipates that it will need to raise a significant
amount of debt or equity capital in the near future in order to
repay certain obligations owed to the Company's senior secured
lender when they mature.  As of June 15, 2011, the total amount
owing to the Company's senior secured lender was approximately
$15.5 million, which includes approximately $12.5 million of
principal and interest due under three convertible promissory
notes that are scheduled to mature on Aug. 31, 2011, and a $3.0
million term note that is potentially payable in cash upon demand
beginning on Aug. 1, 2011, if the Company's stock is below $10.00
at the time demand for payment is made.  If the Company is unable
to raise sufficient capital to repay these obligations at maturity
and the Company is otherwise unable to extend the maturity dates
or refinance these obligations, the Company would be in default.
The Company said it cannot provide any assurances that it will be
able to raise the necessary amount of capital to repay these
obligations or that it will be able to extend the maturity dates
or otherwise refinance these obligations.  Upon a default, the
Company's senior secured lender would have the right to exercise
its rights and remedies to collect, which would include
foreclosing on the Company's assets.  Accordingly, a default would
have a material adverse effect on the Company's business and, if
the Company's senior secured lender exercises its rights and
remedies, the Company would likely be forced to seek bankruptcy
protection.


RENAISSANT LAFAYETTE: Wants Case Dismissal, Carve Out Distribution
------------------------------------------------------------------
Renaissant Lafayette LLC, asks the U.S. Bankruptcy Court for the
Eastern District of Wisconsin to dismiss its Chapter 11 case and
and authorize Amalgamated Bank to distribute the estate carve out
to creditors  -- professionals and general unsecured creditors.

The Debtor relates that it has no remaining assets other than its
rights to access the remaining amounts of the estate carve-out.

On July 13, William T. Neary, the U.S. Trustee for Region 11, also
sought for the Debtor's case dismissal for failure to file a
Chapter 11 plan and and an explanatory Disclosure Statement.

The U.S, Trustee also related that all of the Debtor's assets have
been sold, and there is nothing left of the Debtor to reorganize.

The U.S. Trustee is represented by:

         Debra L. Schneider, Esq.
         Office of the U.S. Trustee
         517 E. Wisconsin Ave., Suite 430
         Milwaukee, WI 53202
         Tel: (414) 297-4499
         Fax: (414) 297-4478

                    About Renaissant Lafayette

Oak Brook, Illinois-based Renaissant Lafayette LLC is the owner of
a 280-unit luxury condominium development in Milwaukee named Park
Lafayette.  The project is at the intersection of North Prospect
Avenue and Lafayette Place in Milwaukee.  So far, 39 units were
sold.

The Company filed for Chapter 11 protection on December 23, 2009
(Bankr. E.D. Wis. Case No. 09-38166).  The Company estimated its
assets at $50 million to $100 million and debts at $100 million to
$500 million.


ROYAL HOSPITALY: Taps BST Valuation as Accountant
-------------------------------------------------
Royal Hospitality LLC, doing business as Comfort Suites, asks the
U.S. Bankruptcy Court for the Northern District of New York for
permission to employ BST Valuation & Litigation Advisors LLC as
accountant to prepare and advise the implementation of cash
management and other services.

Papers filed with the Court did not disclose the firm's
compensation rates.

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

                    About Royal Hospitality LLC

Royal Hospitality LLC, dba Comfort Suites, has been operating the
Comfort Suites in Lake George, New York since May 2007.  It filed
for Chapter 11 protection (Bankr. N.D.N.Y. Case No. 10-13090) on
Aug. 19, 2010.  The Debtor disclosed $13,432,001 in assets and
$11,154,770 in liabilities as of the Petition Date.  Richard L.
Weisz, Esq., at Hodgson Russ LLP, in Albany, N.Y., represents the
Debtor as counsel.


SAMANTA ROY: Court Dismisses Chapter 11 Bankruptcy Cases
--------------------------------------------------------
WSAW.com reports that the bankruptcy cases filed by Samanta Roy
Institute of Science and Technology, or SIST, and two of its
subsidiaries, are now dismissed by the United States Bankruptcy
Court, allowing civil actions against them to move forward.

According to the report, SIST has been ordered not to file any
more bankruptcy claims under any name for one year.

The report says the ruling allows civil actions against SIST and
its subsidiaries to move forward.  Several civil actions,
including a civil lawsuit from Shawano's Mayor, Lorna Marquardt,
had been tied up in Federal Bankruptcy proceedings since March of
2009.  That's when SIST and 6 subsidiaries re-incorporated their
businesses in Delaware and filed for Chapter 11 protection there.

Mayor Marquardt said her civil action against SIST, a lawsuit she
filed for defamation in 2007, will now likely move forward soon.
Marquardt also says Sheriff's sales for SIST's properties,
including apartments and the USA International Raceway in Shawano,
are currently being scheduled.

                    About Samanta Roy Institute

Based in Wilmington, Delaware, Dr. R.C. Samanta Roy Institute of
Science & Technology, Inc., is the parent corporation of U.S.
Acquisitions and Oil, MidWest Oil of Wisconsin, MidWest Oil of
Minnesota, MidWest Oil of Shawano, MidWest Properties of Shawano,
and MidWest Hotels and Motels of Shawano.  They operate entities
and holding companies owning real property leased to subsidiaries.
Through affiliates, they own, among other things, hotels, gas
stations, and an amusement park/racetrack.  They use income from
their business enterprises to fund not-for-profit educational
activities.

SIST and its subsidiary companies first filed for Chapter 11
bankruptcy on March 16, 2009.  The cases were dismissed on
Sept. 22, 2009.

SIST again filed for Chapter 11 bankruptcy on Feb. 21, 2011
(Bankr. D. Del. Lead Case No. 11-10504).  Rebekah M. Nett, Esq.,
at Westview Law Center, PLC, represents the Debtors.  In their
petition, the Debtors estimated both assets and debts of between
$1 million and $10 million.


SEVERN BANCORP: Files Form 10-Q, Incurs $846,000 Net Loss in Q2
---------------------------------------------------------------
Severn Bancorp, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q reporting a net loss
of $846,000 on $11.25 million of total interest income for the
three months ended June 30, 2011, compared with net income of
$593,000 on $13.04 million of total interest income for the same
period during the prior year.

The Company also reported a net loss of $399,000 on $22.95 million
of total interest income for the six months ended June 30, 2011,
compared with net income of $65,000 on $25.64 million of total
interest income for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $937.37
million in total assets, $832.36 million in total liabilities and
$105 million in total stockholders' equity.

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

                        http://is.gd/aZhYpK

                     About Severn Savings Bank

Founded in 1946, Severn Savings Bank, FSB --
http://www.severnbank.com/-- is a full-service community bank
offering a wide array of personal and commercial banking products
as well as residential and commercial mortgage lending.  It has
assets of nearly $1 billion and four branches located in
Annapolis, Edgewater and Glen Burnie.  The bank specializes in
exceptional customer service and holds itself and its employees to
a high standard of community contribution.  Severn Bancorp, Inc.,
(Nasdaq: SVBI) is the parent company of Severn Savings Bank.

As reported by the TCR on Nov. 25, 2009, Annapolis, Maryland-
based Severn Bancorp along with its Bank unit, has entered into
supervisory agreements with the Office of Thrift Supervision, the
Bank's primary federal regulator.  The agreements set forth steps
being taken in response to regulatory concerns with its operating
results and effects of the current economic environment facing the
financial services industry.


SHERIDAN GROUP: Incurs $3.8 Million Net Loss in Second Quarter
--------------------------------------------------------------
The Sheridan Group, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $3.88 million on $64.99 million of net sales for the
three months ended June 30, 2011, compared with net income of
$605,790 on $64.41 million of net sales for the same period a year
ago.

The Company also reported a net loss of $6.24 million on $133.18
million of net sales for the six months ended June 30, 2011,
compared with net income of $2.15 million on $132.71 million of
net sales for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $229.78
million in total assets, $197.91 million in total liabilities and
$31.86 million in total stockholders' equity.

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

                        http://is.gd/Vft5I9

                      About The Sheridan Group

Hunt Valley, Maryland-based The Sheridan Group, Inc.
-- http://www.sheridan.com/-- is a specialty printer offering a
full range of printing and value-added support services for the
journal, catalog, magazine and book markets.

The Sheridan Group, Inc., reported a net loss of $5.9 million on
$266.2 million of sales for 2010, compared with net income of $8.2
million on $293.9 million of sales for 2009.

PricewaterhouseCoopers LLP, in Baltimore, Maryland, expressed
substantial doubt about The Sheridan Group, Inc.'s ability to
continue as a going concern.  The independent auditors noted that
the Company has a significant amount of current debt maturing
within the next twelve months and will need to raise additional
capital in order to settle these obligations.


SOUTHWEST CONTRACT: National Commercial Accepts Sealed Bids
-----------------------------------------------------------
National Commercial Auctioneers discthe sealed bid auction of a
valuable industrial property adjacent to the San Antonio
International Airport and only minutes from I-410, I-35 and I-10,
according to Stephen Karbelk, CAI, AARE, CEO & Founder.  The
property is being sold for Mr. Johnny Thomas, Chapter 7 Bankruptcy
Trustee in the Southwest Contract Packing I, Inc. case.

"This exceptionally well located brownfield site is the ideal
commercial real estate investment for remediation and
redevelopment," said Karbelk.  "This property will sell subject
only to a $100,000 minimum bid and pursuant to the court-approved
bidding procedures."  The property is classified as a brownfield
site since it has environmental issues that require immediate
attention.  The property also has a combined 2010 assessment of
$2,420,000 so this is an opportunity to get a valuable property at
an auction price.

The United States Bankruptcy Court has approved specific bidding
procedures and bidder qualification.  In order to participate in
the sealed bid auction, each bidder must have the financial
ability to purchase and clean-up the property as well as have
experience with managing the remediation of brownfield properties.

Located at 10511 Wetmore Road, San Antonio, TX, the property
consists of two parcels totaling 7.749 acres with 144,560 sq. ft.
office, industrial and warehouse space.

"With a property classification of industrial light manufacturing,
this property has many potential uses after undergoing an
environmental clean-up program acceptable to the TCEQ," noted
Karbelk.

Sealed bids are due by Saturday, September 10, 2011, at 3pm.
Inspections are scheduled for August 19th and 26th from 10am to
noon. Broker participation is offered and encouraged.  For more
details on how to receive the property information package, the
available environmental reports, the Bidding Procedures and Asset
Purchase Agreement and to inspect properties, visit
http://www.natcomauctions.com/or call toll free at (877) 895-
7077.

National Commercial Auctioneers is a nationwide auction company
that specializes in commercial sales for banks, special servicers,
receivers, Trustee's and bankruptcy courts.


SPANISH BROADCASTING: Reports $8.4MM Net Income in Second Quarter
-----------------------------------------------------------------
Spanish Broadcasting System, Inc., filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q,
reporting net income of $8.44 million on $35.62 million of net
revenue for the three months ended June 30, 2011, compared with
net income of $9.43 million on $35.83 million of net revenue for
the same period a year ago.

The Company also reported net income of $8.75 million on $66.40
million of net revenue for the six months ended June 30, 2011,
compared with net income of $8.60 million on $66.68 million of net
revenue for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $481.77
million in total assets, $434.08 million in total liabilities,
$92.35 million in cummulative exchangeable redeemable preferred
stock and a $44.66 million total stockholders' deficit.

Raul Alarcon, Jr., Chairman and CEO, commented, "During the second
quarter, we continued seeing a gradual improvement in the
advertising environment across select markets, including notable
strength in our national sales performance.  Our station brands
remain very strong and continue to deliver leading rating shares
across key Hispanic demographics.  As we invest in our content and
strategically expand our footprint, we are also continuing to
carefully manage our operating costs, resulting in improved
profitability across our stations.  Looking ahead, we will
continue to focus on strengthening our assets, maximizing our
performance and capitalizing on the tremendous growth of the
Hispanic population."

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

                        http://is.gd/o3nX1y

                     About Spanish Broadcasting

Headquartered in Coconut Grove, Florida, Spanish Broadcasting
System, Inc. -- http://www.spanishbroadcasting.com/-- owns and
operates 21 radio stations targeting the Hispanic audience.  The
Company also owns and operates Mega TV, a television operation
with over-the-air, cable and satellite distribution and affiliates
throughout the U.S. and Puerto Rico.  Its revenue for the twelve
months ended Sept. 30, 2010, was approximately $140 million.

The Company reported net income of $15.04 million on $136.12
million of net revenue for the year ended Dec. 31, 2010, compared
with a net loss of $13.78 million on $139.39 million of net
revenue during the prior year.

                           *     *     *

In November 2010, Moody's Investors Service upgraded the corporate
family and probability of default ratings for Spanish Broadcasting
System, Inc., to 'Caa1' from 'Caa3' based on improved free cash
flow prospects due to better than anticipated cost cutting and the
expiration of an unprofitable interest rate swap agreement.
Moody's said Spanish Broadcasting's 'Caa1' corporate family rating
incorporates its weak capital structure, operational pressure in
the still cyclically weak economic climate, generally narrow
growth prospects (though Spanish language is the strongest growth
prospect) given the maturity and competitive pressures in the
radio industry, and the June 2012 maturity of its term loan
magnify this challenge.

In July 2010, Standard & Poor's Ratings Services raised its
corporate credit rating on Miami, Fla.-based Spanish Broadcasting
System Inc. to 'B-' from 'CCC+', based on continued improvement in
the company's liquidity position.  The rating outlook is stable.
"The rating action reflects S&P's expectation that, despite very
high leverage, SBS will have adequate liquidity over the
intermediate term to meet debt maturities, potential swap
settlements, and operating needs until its term loan matures on
June 11, 2012," said Standard & Poor's credit analyst Michael
Altberg.


STAR ACQUISITIONS: Great American Hosts Live Auction on Aug. 25
---------------------------------------------------------------
Envelope machines, printing presses, a die press and assorted
printing equipment located at three former sites operated by Star
Acquisitions, LLC will be available for sale during a live Webcast
auction beginning at 11 a.m. (EDT) Thursday, August 25, hosted by
Great American Group, LLC GAMR +4.35% , a leading provider of
asset disposition, valuation and appraisal services.

Star Acquisitions, LLC, which conducted business under the name
Star Envelopes, filed for Chapter 11 bankruptcy protection on May
16 of this year.  Based in Power Springs, Georgia, a suburb of
Atlanta, the company operated from two other locations in
Baltimore, Maryland and San Antonio, Texas.

"There are several items up for bid, but we expect the most
attention will go to Champion RAWA envelope machines and the
Heidelberg presses that are being auctioned," according to Sandy
Feldman, a senior vice president with Great American Group.

Specifically, three Champion RAWA 600 Envelope Machines with
Smithe Web Feed, featuring three-color capabilities, a side seam
web attachment and high-speed patch attachment, will be auctioned,
along with two standard RAWA 600 Envelope Machines, seven Champion
Wide Range Standard Envelope Machines, a Champion RA 600 Rotomatic
Envelope Machine and two Heidelberg 12-inch printing presses.

Other items include two National model HY60-L Hydraulic Carton
Bailers, four Champion die presses and a Hyster model 580XM LP Gas
Powered Lift Truck.

The equipment can be inspected from 9 am until 4 pm on Wednesday,
August 24 or just prior to the auction.

Great American Group, LLC -- http://www.greatamerican.com/--
is a leading provider of asset disposition solutions and valuation
and appraisal services to a wide range of retail, wholesale and
industrial clients, as well as lenders, capital providers, private
equity investors and professional service firms.  Great American
Group has offices in Atlanta, Boston, Chicago, Dallas, London, Los
Angeles, New York and San Francisco.

Powder Springs, Georgia-based Star Acquisitions, LLC, filed a
Chapter 11 petition (Bankr. N.D. Ga. Case No. 11-64688) in Atlanta
on May 16, 2011.  G. Frank Nason, IV, Esq., at Lamberth, Cifelli,
Stokes Ellis & Nason, in Atlanta, serves as counsel.  The Debtor
estimated assets and debts of $1 million to $10 million.


STEAK N SHAKE: Moody's Assigns 'B1' CFR; Outlook Stable
-------------------------------------------------------
Moody's Investors Service assigned B1 Corporate Family and
Probability of Default Ratings to Steak n Shake Operations, Inc.
and assigned B1 ratings to the company's proposed $160 million
senior secured credit facilities, which will consist of a $20
million revolving credit facility and $140 million term loan. The
ratings outlook is stable.

Steak n Shake plans on using proceeds from the proposed term loan
and revolver borrowing to refinance existing debt and fund a cash
dividend to its parent company, Biglari Holdings Inc.

The assigned ratings are subject to receipt and review of final
documentation. This is the first time rating for Steak n Shake.

Ratings assigned:

- Corporate Family Rating (CFR) at B1;

- Probability of Default Rating (PDR) at B1;

- $20 million senior secured revolver due 2014 at B1 (LGD3, 42%);

- $140 million senior secured term loan due 2015 at B1 (LGD3, 42%)

The ratings outlook is stable

RATINGS RATIONALE

Steak n Shake's B1 Corporate Family Rating reflects the moderate
pro forma leverage stemming from the proposed transaction coupled
with the company's relatively modest scale in terms of revenue,
number of units, and narrow product offering. Pro forma lease-
adjusted leverage as of July 6, 2011 is expected to approach 4.0
times. The ratings also consider the company's recent history of
shareholder friendly financial policies, as the company has
already paid significant dividends to BH and is now once again
adding leverage to bring future cash flow forward. Future
shareholder friendly activities could occur, but there will be
limits set in the proposed credit facility. The ratings also
reflect potential fluctuations in operating performance related to
continued weak consumer confidence and spending, and significant
exposure to commodity inputs such as beef.

The ratings favorably reflect the company's strong brand awareness
in its core markets, with geographic reach across 22 states in the
Midwestern and Southern United States, and the sustained
improvement in operating performance, namely same store sales and
traffic, over the past several years. The expectation for good
liquidity also drives the B1 rating, as the company has
demonstrated the ability to generate solid cash flow from
operations which should enable it to internally fund all cash flow
needs and rapidly reduce debt over the next 12-18 months.

The stable outlook reflects the expectation for fairly rapid de-
leveraging over the next twelve to eighteen months through both
debt reduction and earnings growth through new owned and
franchised restaurant openings, and the expectation that liquidity
will remain good.

Given the company's relatively small scale and potential risk for
some level of future shareholder returns, a ratings upgrade is not
likely over the near term. However, over time, material and
sustained growth in revenue and profitability while maintaining
good liquidity and balanced financial policies, including the use
of discretionary free cash flow for debt reduction, could lead to
a ratings upgrade.

Steak n Shake's ratings could be downgraded if operating
performance were to materially decline, or if financial policies
were to become more aggressive, leading to sustained deterioration
in credit metrics or weaker liquidity, notably sustained erosion
in covenant headroom. Rent-adjusted Debt/EBITDA sustained near 5.0
times, or interest coverage falling below 2.0 times, could drive a
downward rating action.

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 Restaurant
Industry published in June 2011.

Steak n Shake is a restaurant chain that primarily serves burgers
and milk shakes, operating 413 company owned restaurants and
franchising 75 units in 22 states. As a wholly-owned subsidiary of
Biglari Holdings Inc. (NYSE: BH), Steak n Shake generated about
$680 million of revenue in the latest twelve month period ended
July 6, 2011.


STELLAR GT: U.S. Trustee Won't Appoint Unsecured Creditors Panel
----------------------------------------------------------------
W. Clarkson McDow, Jr., U.S. Trustee for Region 4, notified the
U.S. Bankruptcy Court for the District of Maryland that he has not
appointed an unsecured creditors' committee in the Chapter 11
cases of Stellar GT TIC LLC and VFF TIC LLC.

The U.S. Trustee relates that he will appoint an unsecured
creditors' committee upon the request of an adequate number of
eligible unsecured creditors.

The U.S. Trustee is represented by:

         Lynn A. Kohen, Esq.
        6305 Ivy Lane, Suite 600
        Greenbelt, Maryland 20770
        Tel: (301) 344-6216
        E-mail: lynn.a.kohen@usdoj.gov

                         About Stellar GT

Stellar GT TIC LLC and VFF TIC LLC, owners of the Georgian
apartments located at 8750 Georgia Avenue in Silver Spring,
Maryland, filed for Chapter 11 bankruptcy protection (Bankr. D.
Md. Case Nos. 11-22977 and 11-22980) on June 22, 2011.  Judge
Wendelin I. Lipp oversees the case.  Michelle Maloney-Raymond is
the case administrator.  Matthew G. Summers, Esq., at Ballard
Spahr LLP, serves as the Debtors' counsel.

The Debtors negotiated a plan of reorganization before filing for
Chapter 11.  The proposed plan is premised on either (1) a sale of
the project pursuant to an auction process or (2) a consensual
restructuring of the secured debt.  Broker CB Richard Ellis Inc.
has been hired to conduct the sale.

The auction rules provide that a first-round sealed bid would be
required to be submitted by Aug. 24.  The broker would then have
until Sept. 5 to negotiate with the first-round bidders.  Second-
round sealed bids would be due Sept. 5.  The highest second-round
bid would be identified by Sept. 12, 2011.  The highest bid would
be submitted for approval at the confirmation hearing in October.

Wells Fargo, the holder of a $207.6 million secured debt, can bid
at the auction.  The Lender is represented by Mark Taylor, Esq.,
at Kilpatrick Townsend & Stockton LLP, and Jantra Van Roy, Esq.,
at Zeichner Ellman & Krause LLP.


SUMMER VIEW SHERMAN: Case Summary & 3 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Summer View Sherman Oaks Apartments, LLC
        15353 Weddington Avenue
        Sherman Oaks, CA 91411
        Tel: (213) 623-9200

Bankruptcy Case No.: 11-19800

Chapter 11 Petition Date: August 15, 2011

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

Judge: Alan M. Ahart

Debtor's Counsel: Terry D. Shaylin, Esq.
                  KARASIK LAW GROUP, LLP
                  801 S. Figueroa Street, Suite 2170
                  Los Angeles, CA 90017
                  Tel: (213) 623-9200
                  Fax: (213) 623-9323
                  E-mail: tshaylin@karasiklaw.com

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

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

The petition was signed by Sonia Sobol, member.

Debtor's List of three Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
L.A. Commercial Group, Inc.        Trade Debt              $23,112
317 S. Barnd Boulevard
Glendale, CA 91204

HD Supply Facilities Maintenance   Trade Debt              $15,979
Ltd.
P.O. Box 509055
San Diego, CA 92150

Jannie Harrison                    Dog Bite                     $0
15353 Weddington
Sherman Oaks, CA


SUMMER VIEW SHERMAN: Files for Chapter 11 in California
-------------------------------------------------------
Carla Main at Bloomberg News reports that Summer View Sherman Oaks
Apartments, a single-asset real estate company, filed for
bankruptcy under Chapter 11 (Bankr. C.D. Calif. Case No. 11-19800)
on Aug. 15 in California.  The West Hollywood, California-based
Company estimated assets and liabilities of $10 million to
$50 million.


THE RENAISSANCE: Supreme Court Orders Receivership
--------------------------------------------------
Susan Hollis at Pique News Magazine reports that the Supreme Court
of British Columbia has ordered The Renaissance into receivership.

The legal document was filed on behalf of Coast Capital Savings
Credit Union on July 28, 2011 and posted by the appointed
receiver, Vancouver's The Bowra Group, according to the report.
The report relates that Coast Capital Savings holds three
mortgages for the property.

The report notes that the Renaissance has had difficulty filling
its units. A soft economy and slow fiscal recovery likely
contributed to the lack of tenants.

Despite the order, management assured residents that the
facility's staff and services would not be affected, the report
relates.

The Renaissance is Squamish's only independent retirement home
into receivership.


TRADE UNION: U.S. Trustee Forms 3-Members Creditor's Panel
----------------------------------------------------------
Peter C. Anderson, United States Trustee for Region 16, under 11
U.S.C. Sec. 1102(a) and (b), amends and appoints the following
persons to serve on the Committee of Creditors Holding Unsecured
Claims:

      1. Norm Meidl
         Mackie & Associates
         2100 N. Sepulveda Blvd. #18
         Manhattan Beach, CA 90266
         Tel: (310) 545-5373
         Email: mackieassoc@aol.com

      2. Terry Handeland
         Bullet Transportation Services
         4900 S. Pennsylvania Avenue
         Cuddhy, WI 53110
         Tel: (414) 615-1536
         Email: thandeland@rrts.com

      3. Clark Longhurst
         Monterey Lighting Solutions, Inc
         2148 Pomona Blvd
         Pomona, CA 91768
         Tel: (909) 397-8000
         Email: clonghurst@montereycorp.com

                       About Trade Union

Montclair, California-based Trade Union International Inc.
supplies aftermarket aluminum alloy wheels and wheel and truck
accessories.  It filed for Chapter 11 bankruptcy protection on
January 31, 2011 (Bankr. C.D. Calif. Case No. 11-13071).  James C.
Bastian, Jr., Esq., at Shulman Hodges & Bastian LLP, in Irvine,
Calif., serves as the Debtor's bankruptcy counsel.  In its
schedules, the Debtor disclosed $11,350,971 in assets and
$19,826,869 in liabilities.

Affiliate Duck House, Inc., a California corporation, filed a
separate Chapter 11 petition on January 27, 2011 (Bankr. C.D.
Calif. Case No. 11-13072).  Duck House, Inc., specializes is
designing products for sports enthusiasts.

Trade Union and Duck House are each owned one-half by Wen Pin
Chang and one-half by Mei Lien Chang.


TRIBUNE CO: Parties Resolve Plan Exhibit Disputes
-------------------------------------------------
Judge Kevin J. Carey of the U.S. Bankruptcy Court for the
District of Delaware entered on August 9, 2011, an order
concerning admissibility of certain trial exhibits for canvassing
purposes and precluding use of findings of fact and conclusions
of law in other matters in Tribune Company's Chapter 11 case.

On June 13, 2011, Judge Carey held a hearing to consider, among
other things, the motions to admit exhibits into evidence filed
by the Plan Proponent Groups and Wilmington Trust Company in
connection with the confirmation proceedings of the rival Chapter
11 Plans:

  * the Second Amended Joint Plan of Reorganization proposed by
    the Debtors, the Official Committee of Unsecured Creditors,
    Oaktree Capital Management, L.P., Angelo Gordon & Co., L.P.
    and JPMorgan Chase Bank, N.A.; and

  * the Third Amended Joint Plan of Reorganization filed by
    Aurelius Capital Management LP, on behalf of its managed
    entities; Deutsche Bank Trust Company Americas, in its
    capacity as successor indenture trustee for certain series
    of senior notes; Law Debenture Trust Company of New York, in
    its capacity as successor indenture trustee for certain
    series of senior notes; and Wilmington Trust Company, in its
    capacity as successor indenture for the PHONES Notes

At the June 13 hearing, counsel for the Plan Proponent Groups
advised the Court that they had reached an agreement resolving
the Exhibit Motions and precluding the use of any findings of
fact or conclusions of law made by the Court relating to the
merits of the LBO-Related Causes of Action for any purpose in any
other action.

At the Court's directive, the Creditors' Committee filed with the
Court a proposed order concerning admissibility of certain trial
exhibits for canvassing purposes and precluding use of findings
of fact and conclusions of law in other matters.

The proposed order provides for these terms:

(1) The Plan Proponents stipulate that the Noteholder Exhibits
   identified in Mitchell Hurley's declaration and in Martin
   Siegel's declaration and DCL Exhibits 435 and 1323 are
   admitted into evidence, and may be considered by the Court,
   for the purpose of canvassing the legal and factual issues
   and to evaluate whether the proposed settlements included in
   the DCL Plan are reasonable and satisfy the factors set forth
   in Myers v. Martin (In re Martin), 91 F.3d 389 (3d. Cir.
   1996) and any other applicable confirmation or settlement
   standards, and may be relied upon by the Court in making
   findings as to whether or not the DCL Plan Settlement is
   reasonable and satisfies the Applicable Standards, including
   in connection with the Court's consideration of the
   probability of success of the Released LBO-Related Causes of
   Action that are the subject of the DCL Plan Settlement.
   The Disputed Exhibits may not be used to support specific
   findings of fact or conclusions of law that go beyond whether
   the DCL Plan Settlement is reasonable and satisfies the
   Applicable Standards.

(2) This order does not limit the admissibility of the Disputed
   Exhibits or any other documents admitted pursuant to, and for
   the purposes specified in a May 6, 2011 Order Establishing
   Procedures Related to the Post-Confirmation Hearing Admission
   of Evidence and Resolution of Evidentiary Objections, which
   Evidentiary Order remains in effect and is not modified by
   this order.  Likewise, this order does not limit the
   admissibility of opinions or inferences formed by experts
   based in whole or in part on any of the Disputed Exhibits,
   nor does this order limit the purposes for which the Court
   may use those opinions or inferences.

(3) The DCL Proponents' Exhibit Motion is withdrawn as to DCL
   Exhibit 384.  The Noteholders' objection to DCL Exhibits 3 to
   95 (minutes of meetings of the Official Committee of
   Unsecured Creditors) is withdrawn based on the DCL Plan
   Proponents' agreement to limit the purpose for which those
   exhibits are offered.  DCL Exhibits 3 to 95 are admitted as
   records of regularly conducted activity under Rule 803(6) of
   the Federal Rules of Evidence offered for the purpose of
   establishing that the minutes reflect the activities of
   the Creditors' Committee recorded and the dates of the
   Creditors' Committee meetings reflected in the minutes, but
   they are not admitted to prove the truth of any hearsay
   statements embedded.

(4) Any findings of fact or conclusions of law the Court makes
   relating to the merits of the LBO-Related Causes of Action
   will not be used for any purpose in any other pending or
   future action (including without limitation in the currently
   pending Official Committee of Unsecured Creditors of Tribune
   Co. v. FitzSimons et al., Adv.  Pro. No. 10-54010-KJC, any
   other adversary proceeding, any Disclaimed State Law
   Avoidance Claim, or any State Law Avoidance Claims),
   including, without limitation, as a basis for application of
   the doctrines of res judicata, collateral estoppel, law of
   the case or of any similar preclusive doctrine against any
   party to any pending or future action.

(5) This order will not enhance, limit or otherwise affect
   whether or how evidence or testimony adduced in discovery,
   during the confirmation hearing or otherwise in connection
   with these proceedings, may be used in any other action.

In response, Sam Zell and EGI-TRB, LLC, complained that the
proposed order would force the Court to determine at this time,
how other courts, state and federal, must treat the Court's
findings of fact or conclusions of law relating to the merits of
LBO-Related Causes of Action.  Mr. Zell and EGI-TRB clarified
that they do not object to any provisions for the Proposed Order
except for paragraph "4" that attempts to bar them from seeking
to have another court in another proceeding be able to determine
for itself that a finding of fact or conclusion of law may be
binding on one of the Plan Proponents.  Counsel to Mr. Zell,
David W. Carickhoff, Esq., at Blank Rome LLP, in Wilmington,
Delaware, contended that the Plan Proponents fully litigated
certain issues which the Court may include in its findings of
fact or conclusions of law and, if raised in another forum, that
second court should determine whether the plan proponents are
estopped from re-litigating those issues.

Counsel to the Debtors, James F. Conlan, Esq., at Sidley Austin
LLP, in Chicago, Illinois, averred that Mr. Zell's Objection is
based on a fundamental misunderstanding of the issues before the
Court.  According to Mr. Conlan, the Court is not being asked to
decide the merits of the LBO-Related Causes of Action and there
has been no trial on the merits.  Instead, the Court is being
asked to decide the issue that was tried -- whether the proposed
settlements in the DCL Plan are reasonable and satisfy the
factors set forth In re Martin and any other applicable
standards, Mr. Conlan pointed out.  Indeed, Mr. Conlan said, the
disputed paragraph was included in the Proposed Order as an
accommodation to parties other than the Plan Proponents which
were concerned that the Court might make findings and conclusions
relating to the merits of the LBO-Related Causes of Action that
would be used against them in later litigation.

Representing the Noteholders, Daniel H. Golden, Esq., at Akin
Gump Strauss Hauer & Feld LLP, in New York, emphasized that
Mr. Zell's arguments call for a manifestly inequitable result --
allowing Mr. Zell to use favorable confirmation findings in the
Merits Actions against others, without any risk of having to
confront unfavorable Confirmation Findings that might otherwise
be offered by Mr. Zell's opponents in the Merits Actions -- and
is contrary to settled law.  Mr. Golden argued that while a
substantial portion of the confirmation hearing was addressed to
"canvassing" issues concerning the merits of the LBO Related
Causes of Action, none of those issues were "fully litigated" as
asserted by Mr. Zell.  The Court should thus indicate through the
Proposed Order that future courts should make their own
determinations of all issues concerning the Merits Actions, and
should not be influenced by any preliminary conclusions that may
be reached now and reflected in the Confirmation Findings, the
Noteholders propose.

On July 25, 2011, the Creditors' Committee filed with the Court
an amended proposed order containing the Plan Proponents'
agreement to resolve all remaining disputes concerning exhibits
between the Plan Proponent Groups.

In addition to exhibits set forth in the proposed order, the
Noteholder Exhibits 66, 71, 159, 175, 185, 220, 301, 304, 311,
521, 589, 607, 616, 621 and 1855 are admitted into evidence, and
may be considered by the Court, for the purpose of canvassing the
legal and factual issues and to evaluate whether the proposed
settlements included in the DCL Plan are reasonable and satisfy
the factors set forth In re Myers and any other applicable
confirmation or settlement standards.

                  July 29 Amended Proposed Orders

The parties filed with the Court further amended proposed orders
to address the Court's concerns at a hearing held on July 26,
2011.

At the July 26 hearing, the Court said the reference in the July
25 amended proposed order to any findings of fact or conclusions
of law the Court makes relating to the merits of the LBO-Related
Causes of Action was broad and the Court wished to consider
revisions to narrow the scope of paragraph 4.

The Creditors' Committee filed with the Court a revised amended
proposed order on July 29, 2011, amending paragraph 4 to state
that in the context of these confirmation proceedings, the Court
will not be deciding the merits of the LBO-Related Causes of
Action.  Thus, any findings of fact or conclusions of law the
Court makes with respect to the LBO-Related Causes of Action,
including any findings or conclusions with respect to the
probability of success on the merits of those causes of action
will not be used in any other pending or future action as a basis
for application of the doctrines of res judicata, collateral
estoppel, claim or issue preclusion, law of the case or of any
similar preclusive doctrine as to the merits of the LBO-Related
Causes of Action.

On July 29, 2011, Mr. Zell and EGI-TRB submitted an alternative
proposed order in conjunction with its objection to paragraph 4
of the Proposed Order.  Counsel to Mr. Zell, David J. Bradford,
Esq., at Jenner & Block LLP, in Chicago, Illinois, argued that
the Plan Proponents' alternative proposed order dictates to a
second court what preclusion consequences to give to the Court's
findings, even if the Court's findings are made for purposes
other than determining the merits of the LBO Claim.  In contrast,
Mr. Zell's alternative proposed order provides that the Court is
not deciding the merits of the LBO-Related Causes of Action and
no party will assert otherwise in any other pending or future
action, including, without limitation, as a basis for application
of the doctrines of res judicata, collateral estoppel, law of the
case or of any similar preclusive doctrine against any party to
any pending or future action.

Certain current and former directors and officers of the Debtors
submitted to the Court on July 29, 2011, a proposed paragraph 4
that provides that the Court has canvassed issues relating to the
LBO-Related Causes of Action, noting that the Court has done so
without complete input from many involved third parties.  Thus,
any findings of fact or conclusions of law the Court may make
that impact or otherwise affect an LBO-Related Cause of Action
should not be used in any other pending or future action as a
basis for application of the doctrines of res judicata,
collateral estoppel, claim or issue preclusion, law of the case
or of any similar preclusive doctrine.

On August 1, 2011, the Noteholders filed a revised amended
proposed order, which states that the Court will not finally
determine the merits of the LBO-Related Causes of Action in
connection with these confirmation proceedings.  Mr. Golden said
paragraph 4 of the Noteholders Revised Proposed Order is
identical to the version proposed by the DCL Plan Proponents,
except for changes suggested by the Noteholders to first two
sentences of that paragraph.  Mr. Golden explained that the
change to the first sentence of paragraph 4 of the DCL Proposed
Order is necessary to clarify that while the Court will not
finally adjudicate the merits of the LBO-Related Causes of
Action, the Court will decide the likelihood of success of the
released LBO-Related Causes of Action in connection with its Rule
9019 of the Federal Rules of Bankruptcy Procedure analysis.  Mr.
Golden contended that the language proposed by Mr. Zell is
inappropriate and inconsistent with the Court's comments during
the Evidence Order hearing.

In separate letters, the DCL Plan Proponents and Mr. Zell and
EGI-TRB LLC told Judge Carey that they have no further comment on
the proposed order concerning admissibility of certain trial
exhibits for canvassing purposes and precluding use of findings
of fact and conclusions of law in other matters.  Mr. Zell and
EGI-TRB, however, adopt and reserve the objections set forth in
their prior submissions related to this matter.

                Provisions of August 9 Order

The Court signed an order on August 9, 2011, adopting the
undisputed provisions set forth in the proposed order, as
amended.

With respect to paragraph 4, the Court ruled that any findings of
fact or conclusions of law the Court makes with respect to the
LBO-Related Causes of Action, including any findings or
conclusions with respect to the probability of success on the
merits of such causes of action, in the context of these
confirmation proceedings, will not be used in any other pending
or future action (including without limitation in the currently
pending Official Committee of Unsecured Creditors of Tribune Co.
v. FitzSimons et al., Adv. Pro. No. 1O-5401O-KJC, any other
adversary proceeding, any Disclaimed State Law Avoidance Claim,
or any State Law Avoidance Claims), as a basis for application of
the doctrines of res judicata, collateral estoppel, claim or
issue preclusion, law of the case or of any similar preclusive
doctrine.

The bankruptcy judge clarified that he is not called upon to
adjudicate finally the merits of the LBO-Related Causes of
Action.  A "court does not get to dictate to other courts the
preclusive consequences of its own judgment, although it should
have authority to make an explicit and binding disclaimer of
preclusion," Judge Carey quoted Wright, Miller & Cooper, 18 Fed.
Prac. & Proc. Section 4405 (2d ed.)

Judge Carey further said the August 9 order will not enhance,
limit or otherwise affect whether or how evidence or testimony
adduced in discovery, during the confirmation hearing or
otherwise in connection with these proceedings, may be used in
any other action.  The Court may further define the appropriate
use of any of its findings of fact and conclusions of law when it
issues its decision in these confirmation proceedings.

A full-text copy of the August 9 order is available for free at:

   http://bankrupt.com/misc/Tribune_Aug9AdmissibilityOrder.pdf

                       About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection (Bankr. D. Del. Lead Case No. 08-13141) on Dec. 8,
2008.  The Debtors proposed Sidley Austin LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North America LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.  Chadbourne & Parke LLP and
Landis Rath LLP serve as co-counsel to the Official Committee of
Unsecured Creditors.  AlixPartners LLP is the Committee's
financial advisor.  Landis Rath Moelis & Company serves as the
Committee's investment banker.  Thomas G. Macauley, Esq., at
Zuckerman Spaeder LLP, in Wilmington, Delaware, represents the
Committee in connection with the lawsuit filed against former
officers and shareholders for the 2007 LBO of Tribune.

Bankruptcy Creditors' Service, Inc., publishes Tribune Bankruptcy
News.  The newsletter tracks the chapter 11 proceeding undertaken
by Tribune Company and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


TRIBUNE CO: Wins Approval of Wage Class Action Settlement
---------------------------------------------------------
Tribune Company and Tribune New York Newspaper Holdings, LLC, ask
the U.S. Bankruptcy Court for the District of Delaware to
preliminarily approve a settlement agreement resolving all claims
under a minimum wage class action for $325,000.

In May 2007, James Allen filed with the U.S. District Court for
the Southern District of New York a complaint against Tribune
Company and Tribune NY alleging minimum wage claims under the
Fair Labor Standards Act and the New York Labor Law on behalf of
himself and others similarly-situated.  Plaintiffs alleged that
they and other similarly situated individuals were entitled to
minimum wage payments as "employees" for their services as
"hawkers" of amNew York, a free daily morning newspaper published
by Tribune NY, on the streets in the greater New York City area.

The Plaintiffs timely filed two class proofs of claim in the
amount of $1.5 million each against Tribune and Tribune NY, and
individual proofs of claim in the amount of $10,000 each for the
seven named plaintiffs and 11 additional claimants against
Tribune and Tribune NY.  In May 2010, the Plaintiffs filed a
Motion for Class Certification and Class Treatment of the Class
Proofs of Claim.

In January 2011, the Bankruptcy Court directed the parties to
mediation to attempt to reach a settlement prior to further
litigation of the Class Claims.  On March 14, 2011, the
Defendants and Class Counsel conducted an intensive, arms'-length
negotiation and mediation session with Ruth D. Raisfeld, Esq., an
independent mediator, and reached a settlement agreement in
principle.

Accordingly, the Settlement Agreement and Release fully and
finally settles and releases all claims under the Wage Action for
a total gross settlement amount of $325,000, of which $275,000
will be contributed by the Debtors and $50,000 will be
contributed by the Debtors' co-defendants.

Other salient terms of the Settlement Agreement are:

(A) The Settlement Class will be certified for settlement
   purposes only to include "all persons who promoted or
   distributed the amNew York newspaper who received an IRS Form
   1099 from the Delivery Defendants for such work performed,
   during the period from January I, 2004 through the Petition
   Date."

(B) Upon entry of an order granting final approval of the
   Settlement Agreement, the Class and Individual Claims will be
   automatically disallowed and expunged.  The Plaintiffs
   further agree not to file any other proofs of claim or to
   modify or amend the Class or Individual Claims without the
   Debtors' consent.

(C) A total gross amount of $18,000 will be paid to certain of
   the Plaintiffs as enhancement awards in consideration
   for their time and effort actively pursuing the Lawsuit and
   assisting in its resolution on behalf of the Settlement
   Class.  Distributions of the Enhanced Service Awards were
   determined by Class Counsel based on the level of involvement
   each recipient had in assisting Class Counsel in the Lawsuit.

(D) Defendants agree that Class Counsel should be awarded a sum
   equal to 33% of the Total Gross Amount after the deduction of
   litigation costs and reimbursement for litigation costs in
   the amount of $18,364 incurred by Class Counsel in connection
   with the Lawsuit.

(E) Payment of the Total Gross Amount by Defendants pursuant to
   the Settlement Agreement will constitute a full and complete
   settlement and general release of disputes and claims between
   the Settlement Class and the Defendants which relate to the
   alleged wage and hour claims and related claims for time that
   the members of the Settlement Class provided services in
   connection with the promotion or distribution of the amNew
   York newspaper while receiving an IRS Form 1099 from the
   Delivery Defendants for those services prior to and through
   the Petition Date.

James F. Conlan, Esq., at Sidley Austin LLP, in Chicago,
Illinois, stresses that the Debtors' potential liability could be
substantial if the Plaintiffs prevailed, as indicated by the
Class Proofs of Claim and Individual Claims.  More importantly,
the Settlement Agreement avoids significant litigation time and
expenses in the event the class action litigation continued
either in the Bankruptcy Court or through prosecution of a relief
from stay request by the Plaintiffs to return the dispute to the
District Court, he points out.

Following preliminary approval of the Settlement Agreement,
notice will be provided to the Settlement Class members in
accordance with the Settlement Agreement by the claims
administrator, and the Settlement Class members will have a 60-
day notice period to file a claim, object to, or opt out of the
settlement, after which time, the Debtors will request final
approval of the Settlement Agreement, provided that certain
conditions are met.  This two-step approval process is
consistent with class action procedures under the Rule 7023 of
the Federal Rules of Bankruptcy Procedure and Rule 23 of the
Federal Rules of Civil Procedure, Mr. Conlan avers.  The Debtors
thus ask the Curt to approve the noticing procedures with respect
to the Settlement Agreement.

The Debtors have stipulated to class certification for settlement
purposes only under Rules 23(a) and (b) and ask the Bankruptcy
Court to certify the Settlement Class to effectuate the
Settlement Agreement.  The Debtors also ask the Bankruptcy Court
to appoint Class Counsel to represent the Settlement Class based
on experience and adequate representation, and to appoint the
Plaintiffs as "class representatives" for the Settlement Class.

In addition, the Debtors ask the Bankruptcy Court to schedule a
final fairness hearing and establish a process for finally
approving the settlement agreement.

The Bankruptcy Court will consider the Debtors' request on
August 25, 2011.  Objections are due no later than August 18.

                       About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection (Bankr. D. Del. Lead Case No. 08-13141) on Dec. 8,
2008.  The Debtors proposed Sidley Austin LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North America LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.  Chadbourne & Parke LLP and
Landis Rath LLP serve as co-counsel to the Official Committee of
Unsecured Creditors.  AlixPartners LLP is the Committee's
financial advisor.  Landis Rath Moelis & Company serves as the
Committee's investment banker.  Thomas G. Macauley, Esq., at
Zuckerman Spaeder LLP, in Wilmington, Delaware, represents the
Committee in connection with the lawsuit filed against former
officers and shareholders for the 2007 LBO of Tribune.

Bankruptcy Creditors' Service, Inc., publishes Tribune Bankruptcy
News.  The newsletter tracks the chapter 11 proceeding undertaken
by Tribune Company and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


TRIBUNE CO: Removal Period Extended Until Oct. 31
-------------------------------------------------
Judge Kevin Carey extended the time within which Tribune Co. and
its affiliates may file notices of removal of claims and causes of
action relating to their Chapter 11 proceedings, through and
including October 31, 2011.

This order will be without prejudice to the Debtors' right to
seek further extensions of the time within which to remove
related proceedings, Judge Carey ruled.

The Court entered the order upon filing of the certification of
no objection to the Debtors' Motion.

                       About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection (Bankr. D. Del. Lead Case No. 08-13141) on Dec. 8,
2008.  The Debtors proposed Sidley Austin LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North America LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.  Chadbourne & Parke LLP and
Landis Rath LLP serve as co-counsel to the Official Committee of
Unsecured Creditors.  AlixPartners LLP is the Committee's
financial advisor.  Landis Rath Moelis & Company serves as the
Committee's investment banker.  Thomas G. Macauley, Esq., at
Zuckerman Spaeder LLP, in Wilmington, Delaware, represents the
Committee in connection with the lawsuit filed against former
officers and shareholders for the 2007 LBO of Tribune.

Bankruptcy Creditors' Service, Inc., publishes Tribune Bankruptcy
News.  The newsletter tracks the chapter 11 proceeding undertaken
by Tribune Company and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


UPD GLOBAL: Case Summary & 17 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: UPD Global Resources, Inc.
        9727 St. Johns Court
        Pilot Point, TX 76258

Bankruptcy Case No.: 11-36970

Chapter 11 Petition Date: August 15, 2011

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

Judge: Karen K. Brown

Debtor's Counsel: William P. Haddock, Esq.
                  PENDERGRAFT & SIMON
                  2777 Allen Parkway, Suite 800
                  Houston, TX 77019
                  Tel: (713) 868-3505
                  Fax: (713) 868-1267
                  E-mail: will@haddock.pro

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

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

The petition was signed by Angel Luis Pereda Eguiluz, president.

Debtor's List of 17 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
PBC Services, Inc.                 Judgment             $4,329,000
2041 Coteau Road
Houma, LA 70364

Port of Houston                    Landlord's lien         $80,700
P.O. Box 203417
Houston, TX 77216

F. Class Trucking                  Goods and/or Services   $16,856
6610 Eagle Pass Street             Provided
Houston, TX 77020

United Site                        Goods and/or Services    $6,790
                                   Provided

Reliant Energy                     Goods and/or Services    $2,696
                                   Provided

Dell Credit                        Goods and/or Services    $2,306
                                   Provided

Stewart & Stevenson                Goods and/or Services    $1,950
                                   Provided

Modular Space                      Goods and/or Services    $1,390
                                   Provided

Preferred Long Distance            Goods and/or Services      $780
                                   Provided

Ozarka                             Goods and/or Services      $350
                                   Provided

AT&T                               Goods and/or Services      $349
                                   Provided

FedEx                              Goods and/or Services      $240
                                   Provided

Brinks                             Goods and/or Services      $136
                                   Provided

Waste Connection                   Goods and/or Services        $0
                                   Provided

Wachovia Bank, N.A.                Non-Purchase Money           $0

Republic Services                  Goods and/or Services        $0
                                   Provided

PBC Services, Inc.                 Notice Only                  $0


VITRO SAB: To Control Restructuring Vote After Judge Rules on Debt
------------------------------------------------------------------
Carla Main at Bloomberg News reports that Vitro SAB will control a
majority of creditor votes and force bondholders to take less than
face value in a courtsupervised restructuring after a Mexican
judge ruled to include $1.9 billion of intercompany debt in the
case.

According to the report, Vitro said in a statement that federal
Judge Sandra Lopez made the decision on Aug. 12, and it was
released to the Mexican glassmaker and bondholders Aug. 16. In the
final phase of the bankruptcy case, creditors will vote by Nov. 14
on Vitro's debt proposal, which outside bondholders rejected in
December, said Roberto Riva Palacio, a company spokesman, in an
interview with Bloomberg on Tuesday.

Bloomberg News relates that Vitro defaulted on $1.5 billion in
debt, including $1.2 billion of bonds, in 2009 after a recession
slashed demand for auto and construction glass.  The Mexican
company, based in the Monterrey suburb of San Pedro Garza Garcia,
also lost more than $300 million on natural gas and currency
derivatives.

According to Bloomberg, 10 months after defaulting on its debt,
Vitro created $1.9 billion of intercompany loans that it used,
over the protest of bondholders, to win approval of its debt
proposal.  That plan offered to swap $850 million of new bonds and
$100 million of debt convertible into shares for the $1.5 billion.

Bloomberg discloses that Donald Cutler, a spokesman for the
bondholders, said they are "disappointed in the court's ruling"
and plan to appeal.  "Even if the intercompany debt is ultimately
approved, it does not mean that Vitro can vote this debt," Mr.
Cutler said Aug. 16 in an e-mailed statement.  "Moreover, we
believe the intercompany claims will be avoided as fraudulent
transfers."

Allan S. Brilliant, Esq., an attorney for the bondholders,
criticized the intercompany debt in July as "manufactured insider
votes to cram down a plan."

                         About Vitro SAB

Headquartered in Monterrey, Mexico, Vitro, S.A.B. de C.V. (BMV:
VITROA; NYSE: VTO), through its two subsidiaries, Vitro Envases
Norteamerica, SA de C.V. and Vimexico, S.A. de C.V., is the
largest manufacturer of glass containers and flat glass in Mexico,
with consolidated net sales in 2009 of MXN23,991 million (US$1.837
billion).

Vitro defaulted on its debt in 2009 and sought to restructure
around US$1.5 billion in debt, including US$1.2 billion in notes.
Vitro launched an offer to buy back or swap US$1.2 billion in debt
from bondholders.  The tender offer would be consummated with a
bankruptcy filing in Mexico and Chapter 15 filing in the United
States.  Vitro said noteholders would recover as much as 73% by
exchanging existing debt for cash, new debt or convertible bonds.

            Concurso Mercantil & Chapter 15 Proceedings

Vitro SAB on Dec. 13, 2010, filed its voluntary petition for a
pre-packaged Concurso Plan in the Federal District Court for Civil
and Labor Matters for the State of Nuevo Leon, commencing its
voluntary concurso mercantil proceedings -- the Mexican equivalent
of a prepackaged Chapter 11 reorganization.  Vitro SAB also
commenced parallel proceedings under Chapter 15 of the U.S.
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 10-16619) in Manhattan
on Dec. 13, 2010, to seek U.S. recognition and deference to its
bankruptcy proceedings in Mexico.

Early in January 2011, the Mexican Court dismissed the Concurso
Mercantil proceedings.  The judge said Vitro couldn't push through
a plan to buy back or swap US$1.2 billion in debt from bondholders
based on the vote of US$1.9 billion of intercompany debt when
third-party creditors were opposed.  Vitro as a result dismissed
the first Chapter 15 petition following the ruling by the Mexican
court.

On April 12, 2011, an appellate court in Mexico reinstated the
reorganization.  Accordingly, Vitro SAB on April 14 re-filed a
petition for recognition of its Mexican reorganization in U.S.
Bankruptcy Court in Manhattan (Bankr. S.D.N.Y. Case No. 11-11754).

In the present Chapter 15 case, the Debtor seeks to block any
creditor suits in the U.S. pending the reorganization in Mexico.

On June 29, 2011, Vitro Packaging de Mexico S.A. de C.V. commenced
a voluntary judicial reorganization proceeding under the Ley de
Concursos Mercantiles before the Federal District Court for Civil
and Labor Matters for the State of Nuevo Leon, the United Mexican
States.  On June 30, 2011, Vitro Packaging filed a chapter 15
petition (Bankr. N.D. Tex. Case No. 11-34224).

Alejandro Francisco Sanchez-Mujica and Javier Arechavaleta Santos
serve as Foreign Representatives of Vitro S.A.B. de C.V. and Vitro
Packaging de Mexico S.A. de C.V.  The Foreign Representatives are
represented by David M. Bennett, Esq., Katharine E. Battaia, Esq.,
and Cassandra A. Sepanik, Esq., at Thompson & Knight LLP, and
Andrew M. Leblanc, Esq., Risa M. Rosenberg, Esq., Thomas J. Matz,
Esq., and Jeremy C. Hollembeak, Esq., at Milbank Tweed Hadley &
McCloy LLP.

Attorneys for the Ad Hoc Group of Vitro Noteholders are Jeff P.
Prostok, Esq., and Lynda L. Lankford, Esq., at Forshey & Prostok,
LLP, and Allan S. Brilliant, Esq., Benjamin E. Rosenberg, Esq.,
Craig P. Druehl, Esq., and Dennis H. Hranitzky, Esq., at Dechert
LLP.

                      Chapter 11 Proceedings

A group of noteholders, namely Knighthead Master Fund, L.P., Lord
Abbett Bond-Debenture Fund, Inc., Davidson Kempner Distressed
Opportunities Fund LP, and Brookville Horizons Fund, L.P., opposed
the exchange.  Together, they held US$75 million, or approximately
6% of the outstanding bond debt.  The Noteholder group commenced
involuntary bankruptcy cases under Chapter 11 of the U.S.
Bankruptcy Code against Vitro Asset Corp. (Bankr. N.D. Tex. Case
No. 10-47470) and 15 other affiliates on Nov. 17, 2010.

Vitro engaged Susman Godfrey, L.L.P. as U.S. special litigation
counsel to analyze the potential rights that Vitro may exercise in
the United States against the ad hoc group of dissident
bondholders and its advisors.

A larger group of noteholders known as the Ad Hoc Group of Vitro
Noteholders -- comprised of holders, or investment advisors to
holders, which represent approximately US$650 million of the
Senior Notes due 2012, 2013 and 2017 issued by Vitro -- was not
among the Chapter 11 petitioners, although the group has expressed
concerns over the exchange offer.  The group says the exchange
offer exposes Noteholders who consent to potential adverse
consequences that have not been disclosed by Vitro.  The group is
represented by John Cunningham, Esq., and Richard Kebrdle, Esq. at
White & Case LLP.

The U.S. affiliates subject to the involuntary petitions are Vitro
Chemicals, Fibers & Mining, LLC (Bankr. N.D. Tex. Case No. 10-
47472); Vitro America, LLC (Bankr. N.D. Tex. Case No. 10-47473);
Troper Services, Inc. (Bankr. N.D. Tex. Case No. 10-47474); Super
Sky Products, Inc. (Bankr. N.D. Tex. Case No. 10-47475); Super Sky
International, Inc. (Bankr. N.D. Tex. Case No. 10-47476); VVP
Holdings, LLC (Bankr. N.D. Tex. Case No. 10-47477); Amsilco
Holdings, Inc. (Bankr. N.D. Tex. Case No. 10-47478); B.B.O.
Holdings, Inc. (Bankr. N.D. Tex. Case No. 10-47479); Binswanger
Glass Company (Bankr. N.D. Tex. Case No. 10-47480); Crisa
Corporation (Bankr. N.D. Tex. Case No. 10-47481); VVP Finance
Corporation (Bankr. N.D. Tex. Case No. 10-47482); VVP Auto Glass,
Inc. (Bankr. N.D. Tex. Case No. 10-47483); V-MX Holdings, LLC
(Bankr. N.D. Tex. Case No. 10-47484); and Vitro Packaging, LLC
(Bankr. N.D. Tex. Case No. 10-47485).

A bankruptcy judge in Fort Worth, Texas, denied involuntary
Chapter 11 petitions filed against four U.S. subsidiaries.  On
April 6, 2011, Vitro SAB agreed to put Vitro units -- Vitro
America LLC and three other U.S. subsidiaries -- that were subject
to the involuntary petitions into voluntary Chapter 11.  The Texas
Court on April 21 denied involuntary petitions against the eight
U.S. subsidiaries that didn't consent to being in Chapter 11.
The U.S. subsidiaries subsequently sold their businesses to an
affiliate of Sun Capital Partners Inc. for US$55 million.

Kurtzman Carson Consultants is the claims and notice agent to
Vitro America, et al.  Alvarez & Marsal North America LLC is the
Debtors' operations and financial advisor.

The official committee of unsecured creditors appointed in the
Chapter 11 cases of Vitro America, et al., has selected Sarah Link
Schultz, Esq., at Akin Gump Strauss Hauer & Feld LLP, in Dallas,
Texas, and Michael S. Stamer, Esq., Abid Qureshi, Esq., and Alexis
Freeman, Esq., at Akin Gump Strauss Hauer & Feld LLP, in New York,
as counsel.


VITRO SAB: ACI Intends to Lay Off 46 Employees at Memphis Office
----------------------------------------------------------------
ACI Glass Products LLC, a subsidiary of Vitro America LLC, plans
to eliminate 46 jobs through the closure of its Memphis office at
965 Ridge Lake Blvd., Suite 300.  The jobs will be phased out
between September 19 and October 1, ACI informed the Tennessee
Department of Labor and Workforce Development.

                         About Vitro SAB

Headquartered in Monterrey, Mexico, Vitro, S.A.B. de C.V. (BMV:
VITROA; NYSE: VTO), through its two subsidiaries, Vitro Envases
Norteamerica, SA de C.V. and Vimexico, S.A. de C.V., is the
largest manufacturer of glass containers and flat glass in Mexico,
with consolidated net sales in 2009 of MXN23,991 million (US$1.837
billion).

Vitro defaulted on its debt in 2009, and sought to restructure
around US$1.5 billion in debt, including US$1.2 billion in notes.
Vitro launched an offer to buy back or swap US$1.2 billion in debt
from bondholders.  The tender offer would be consummated with a
bankruptcy filing in Mexico and Chapter 15 filing in the United
States.  Vitro said noteholders would recover as much as 73% by
exchanging existing debt for cash, new debt or convertible bonds.

           Concurso Mercantil & Chapter 15 Proceedings

Vitro SAB on Dec. 13, 2010, filed its voluntary petition for a
pre-packaged Concurso Plan in the Federal District Court for Civil
and Labor Matters for the State of Nuevo Leon, commencing its
voluntary concurso mercantil proceedings -- the Mexican equivalent
of a prepackaged Chapter 11 reorganization.  Vitro SAB also
commenced parallel proceedings under Chapter 15 of the U.S.
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 10-16619) in Manhattan
on Dec. 13, 2010, to seek U.S. recognition and deference to its
bankruptcy proceedings in Mexico.

Early in January 2011, the Mexican Court dismissed the Concurso
Mercantil proceedings.  The judge said Vitro couldn't push through
a plan to buy back or swap US$1.2 billion in debt from bondholders
based on the vote of US$1.9 billion of intercompany debt when
third-party creditors were opposed.  Vitro as a result dismissed
the first Chapter 15 petition following the ruling by the Mexican
court.

On April 12, 2011, an appellate court in Mexico reinstated the
reorganization.  Accordingly, Vitro SAB on April 14 re-filed a
petition for recognition of its Mexican reorganization in U.S.
Bankruptcy Court in Manhattan (Bankr. S.D.N.Y. Case No. 11-11754).

In the present Chapter 15 case, the Debtor seeks to block any
creditor suits in the U.S. pending the reorganization in Mexico.

On June 29, 2011, Vitro Packaging de Mexico S.A. de C.V. commenced
a voluntary judicial reorganization proceeding under the Ley de
Concursos Mercantiles before the Federal District Court for Civil
and Labor Matters for the State of Nuevo Leon, the United Mexican
States.  On June 30, 2011, Vitro Packaging filed a chapter 15
petition (Bankr. N.D. Tex. Case No. 11-34224).

Alejandro Francisco Sanchez-Mujica and Javier Arechavaleta Santos
serve as Foreign Representatives of Vitro S.A.B. de C.V. and Vitro
Packaging de Mexico S.A. de C.V.  The Foreign Representatives are
represented by David M. Bennett, Esq., Katharine E. Battaia, Esq.,
and Cassandra A. Sepanik, Esq., at Thompson & Knight LLP, and
Andrew M. Leblanc, Esq., Risa M. Rosenberg, Esq., Thomas J. Matz,
Esq., and Jeremy C. Hollembeak, Esq., at Milbank Tweed Hadley &
McCloy LLP.

Attorneys for the Ad Hoc Group of Vitro Noteholders are Jeff P.
Prostok, Esq., and Lynda L. Lankford, Esq., at Forshey & Prostok,
LLP, and Allan S. Brilliant, Esq., Benjamin E. Rosenberg, Esq.,
Craig P. Druehl, Esq., and Dennis H. Hranitzky, Esq., at Dechert
LLP.

                      Chapter 11 Proceedings

A group of noteholders, namely Knighthead Master Fund, L.P., Lord
Abbett Bond-Debenture Fund, Inc., Davidson Kempner Distressed
Opportunities Fund LP, and Brookville Horizons Fund, L.P., opposed
the exchange.  Together, they held US$75 million, or approximately
6% of the outstanding bond debt.  The Noteholder group commenced
involuntary bankruptcy cases under Chapter 11 of the U.S.
Bankruptcy Code against Vitro Asset Corp. (Bankr. N.D. Tex. Case
No. 10-47470) and 15 other affiliates on Nov. 17, 2010.

Vitro engaged Susman Godfrey, L.L.P. as U.S. special litigation
counsel to analyze the potential rights that Vitro may exercise in
the United States against the ad hoc group of dissident
bondholders and its advisors.

A larger group of noteholders known as the Ad Hoc Group of Vitro
Noteholders -- comprised of holders, or investment advisors to
holders, which represent approximately US$650 million of the
Senior Notes due 2012, 2013 and 2017 issued by Vitro -- was not
among the Chapter 11 petitioners, although the group has expressed
concerns over the exchange offer.  The group says the exchange
offer exposes Noteholders who consent to potential adverse
consequences that have not been disclosed by Vitro.  The group is
represented by John Cunningham, Esq., and Richard Kebrdle, Esq. at
White & Case LLP.

The U.S. affiliates subject to the involuntary petitions are Vitro
Chemicals, Fibers & Mining, LLC (Bankr. N.D. Tex. Case No. 10-
47472); Vitro America, LLC (Bankr. N.D. Tex. Case No. 10-47473);
Troper Services, Inc. (Bankr. N.D. Tex. Case No. 10-47474); Super
Sky Products, Inc. (Bankr. N.D. Tex. Case No. 10-47475); Super Sky
International, Inc. (Bankr. N.D. Tex. Case No. 10-47476); VVP
Holdings, LLC (Bankr. N.D. Tex. Case No. 10-47477); Amsilco
Holdings, Inc. (Bankr. N.D. Tex. Case No. 10-47478); B.B.O.
Holdings, Inc. (Bankr. N.D. Tex. Case No. 10-47479); Binswanger
Glass Company (Bankr. N.D. Tex. Case No. 10-47480); Crisa
Corporation (Bankr. N.D. Tex. Case No. 10-47481); VVP Finance
Corporation (Bankr. N.D. Tex. Case No. 10-47482); VVP Auto Glass,
Inc. (Bankr. N.D. Tex. Case No. 10-47483); V-MX Holdings, LLC
(Bankr. N.D. Tex. Case No. 10-47484); and Vitro Packaging, LLC
(Bankr. N.D. Tex. Case No. 10-47485).

A bankruptcy judge in Fort Worth, Texas, denied involuntary
Chapter 11 petitions filed against four U.S. subsidiaries.  On
April 6, 2011, Vitro SAB agreed to put Vitro units -- Vitro
America LLC and three other U.S. subsidiaries -- that were subject
to the involuntary petitions into voluntary Chapter 11.  The Texas
Court on April 21 denied involuntary petitions against the eight
U.S. subsidiaries that didn't consent to being in Chapter 11.

Kurtzman Carson Consultants is the claims and notice agent to
Vitro America, et al.  Alvarez & Marsal North America LLC is the
Debtors' operations and financial advisor.

The official committee of unsecured creditors appointed in the
Chapter 11 cases of Vitro America, et al., has selected Sarah Link
Schultz, Esq., at Akin Gump Strauss Hauer & Feld LLP, in Dallas,
Texas, and Michael S. Stamer, Esq., Abid Qureshi, Esq., and Alexis
Freeman, Esq., at Akin Gump Strauss Hauer & Feld LLP, in New York,
as counsel.

Vitro SAB previously obtained court approval to sell four of its
U.S. units, including Vitro America LLC, to an affiliate of
private-equity firm Sun Capital Partners Inc. for $55.1 million.

The Debtors finalized the sale of assets under the Court approved
APA on June 17, 2011.


VITRO SAB: Court OKs Blackstone as Committee's Financial Advisor
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
authorized the Official Committee of Unsecured Creditors of Vitro
Asset Corp., et al., to retain Blackstone Advisory Partners L.P.
as financial advisor, nunc pro tunc to April 26, 2011.

As the Committee's financial advisor, Blackstone will:

   a) assist in the evaluation of the Debtors' businesses
      and prospects;

   b) assist in the evaluation of the Debtors' long-term
      business plan and related financial projections;

   c) assist in the development of financial data and
      presentations to the Committee;

   d) analyze the Debtors' financial liquidity and evaluate
      alternatives to improve such liquidity, including
      alternative DIP financings;

   e) analyze various restructuring scenarios and the
      potential impact of these scenarios on the recoveries
      of the unsecured creditors of the Debtors;

   f) evaluate the Debtors' debt capacity and alternative
      capital structures;

   g) participate in negotiations among the Committee, the
      Debtors and its other creditors, suppliers, lessors
      and other interested parties;

   h) value consideration offered by the Debtors to the
      Unsecured Creditors in connection with any restructuring
      of the Debtors' businesses;

   i) assist in the evaluation of the asset sale processes,
      including the identification of potential buyers;

   j) assist in evaluating the terms, conditions and impact
      of any proposed asset sale transactions;

   k) provide expert witness testimony concerning any of the
      subjects encompassed by the other financial advisory
      services; and

   l) provide such other advisory services as are customarily
      provided in connection with the analysis and negotiation
      of a restructuring, as requested and mutually agreed.

The Debtor has agreed to pay Blackstone in accordance with this
fee structure:

   1. A monthly advisory fee of $125,000 in cash, paid in
      accordance with the order approving the Application
      and Engagement Letter and any other order entered by
      the Court approving interim compensation of professionals.
      Fifty percent of all Monthly Fees beginning with the
      seventh Monthly Fee payment shall be credited against
      the Restructuring Fee;

   2. An additional fee equal to $2,500,000 payable upon
      consummation of a restructuring.  A restructuring
      will be deemed to have been consummated upon the
      execution, confirmation and consummation of a Plan
      of Reorganization pursuant to an order of the
      Bankruptcy Court, in the case of an in-court
      restructuring.

   3. Reimbursement of all reasonable out-of-pocket expenses.
      incurred during the engagement.

Michael Genereux, a senior managing director of Blackstone
Advisory Partners L.P., assured the Court that the firm is a
"disinterested person" as that term defined in Section 101(14) of
the Bankruptcy Code.

                       About Vitro SAB

Headquartered in Monterrey, Mexico, Vitro, S.A.B. de C.V. (BMV:
VITROA; NYSE: VTO), through its two subsidiaries, Vitro Envases
Norteamerica, SA de C.V. and Vimexico, S.A. de C.V., is a global
glass producer, serving the construction and automotive glass
markets and glass containers needs of the food, beverage, wine,
liquor, cosmetics and pharmaceutical industries.

Vitro is the largest manufacturer of glass containers and flat
glass in Mexico, with consolidated net sales in 2009 of MXN23,991
million (US$1.837 billion).

Vitro defaulted on its debt in 2009, and sought to restructure
around US$1.5 billion in debt, including US$1.2 billion in notes.
Vitro launched an offer to buy back or swap US$1.2 billion in debt
from bondholders.  The tender offer would be consummated with a
bankruptcy filing in Mexico and Chapter 15 filing in the United
States.  Vitro said noteholders would recover as much as 73% by
exchanging existing debt for cash, new debt or convertible bonds.

           Concurso Mercantil & Chapter 15 Proceedings

Vitro SAB on Dec. 13, 2010, filed its voluntary petition for a
pre-packaged Concurso Plan in the Federal District Court for Civil
and Labor Matters for the State of Nuevo Leon, commencing its
voluntary concurso mercantil proceedings -- the Mexican equivalent
of a prepackaged Chapter 11 reorganization.  Vitro SAB also
commenced parallel proceedings under Chapter 15 of the U.S.
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 10-16619) in Manhattan
on Dec. 13, 2010, to seek U.S. recognition and deference to its
bankruptcy proceedings in Mexico.

Early in January 2011, the Mexican Court dismissed the Concurso
Mercantil proceedings.  The judge said Vitro couldn't push through
a plan to buy back or swap US$1.2 billion in debt from bondholders
based on the vote of US$1.9 billion of intercompany debt when
third-party creditors were opposed.  Vitro as a result dismissed
the first Chapter 15 petition following the ruling by the Mexican
court.

On April 12, 2011, an appellate court in Mexico reinstated the
reorganization.  Accordingly, Vitro SAB on April 14 re-filed a
petition for recognition of its Mexican reorganization in U.S.
Bankruptcy Court in Manhattan (Bankr. S.D.N.Y. Case No. 11-11754).

In the present Chapter 15 case, the Debtor seeks to block any
creditor suits in the U.S. pending the reorganization in Mexico.

                     Chapter 11 Proceedings

A group of noteholders opposed the exchange -- namely Knighthead
Master Fund, L.P., Lord Abbett Bond-Debenture Fund, Inc., Davidson
Kempner Distressed Opportunities Fund LP, and Brookville Horizons
Fund, L.P.  Together, they held US$75 million, or approximately 6%
of the outstanding bond debt.  The Noteholder group commenced
involuntary bankruptcy cases under Chapter 11 of the U.S.
Bankruptcy Code against Vitro Asset Corp. (Bankr. N.D. Tex. Case
No. 10-47470) and 15 other affiliates on Nov. 17, 2010.

Vitro engaged Susman Godfrey, L.L.P. as U.S. special litigation
counsel to analyze the potential rights that Vitro may exercise in
the United States against the ad hoc group of dissident
bondholders and its advisors.

A larger group of noteholders, known as the Ad Hoc Group of Vitro
Noteholders -- comprised of holders, or investment advisors to
holders, which represent approximately US$650 million of the
Senior Notes due 2012, 2013 and 2017 issued by Vitro -- was not
among the Chapter 11 petitioners, although the group has expressed
concerns over the exchange offer.  The group says the exchange
offer exposes Noteholders who consent to potential adverse
consequences that have not been disclosed by Vitro.  The group is
represented by John Cunningham, Esq., and Richard Kebrdle, Esq. at
White & Case LLP.

The U.S. affiliates subject to the involuntary petitions are Vitro
Chemicals, Fibers & Mining, LLC (Bankr. N.D. Tex. Case No. 10-
47472); Vitro America, LLC (Bankr. N.D. Tex. Case No. 10-47473);
Troper Services, Inc. (Bankr. N.D. Tex. Case No. 10-47474); Super
Sky Products, Inc. (Bankr. N.D. Tex. Case No. 10-47475); Super Sky
International, Inc. (Bankr. N.D. Tex. Case No. 10-47476); VVP
Holdings, LLC (Bankr. N.D. Tex. Case No. 10-47477); Amsilco
Holdings, Inc. (Bankr. N.D. Tex. Case No. 10-47478); B.B.O.
Holdings, Inc. (Bankr. N.D. Tex. Case No. 10-47479); Binswanger
Glass Company (Bankr. N.D. Tex. Case No. 10-47480); Crisa
Corporation (Bankr. N.D. Tex. Case No. 10-47481); VVP Finance
Corporation (Bankr. N.D. Tex. Case No. 10-47482); VVP Auto Glass,
Inc. (Bankr. N.D. Tex. Case No. 10-47483); V-MX Holdings, LLC
(Bankr. N.D. Tex. Case No. 10-47484); and Vitro Packaging, LLC
(Bankr. N.D. Tex. Case No. 10-47485).

A bankruptcy judge in Fort Worth, Texas, denied involuntary
Chapter 11 petitions filed against four U.S. subsidiaries.  On
April 6, 2011, Vitro SAB agreed to put Vitro units -- Vitro
America LLC and three other U.S. subsidiaries -- that were subject
to the involuntary petitions into voluntary Chapter 11.  The Texas
Court on April 21 denied involuntary petitions against the eight
U.S. subsidiaries that didn't consent to being in Chapter 11.

Kurtzman Carson Consultants is the claims and notice agent to
Vitro America, et al.  Alvarez & Marsal North America LLC, is the
Debtors' operations and financial advisor.

The official committee of unsecured creditors appointed in the
Chapter 11 cases of Vitro America, et al., has selected Sarah Link
Schultz, Esq., at Akin Gump Strauss Hauer & Feld LLP, in Dallas,
Texas, and Michael S. Stamer, Esq., Abid Qureshi, Esq., and Alexis
Freeman, Esq., at Akin Gump Strauss Hauer & Feld LLP, in New York,
as counsel.


WASHINGTON MUTUAL: Plan Closing Arguments on Aug. 24; Briefs Filed
------------------------------------------------------------------
Peg Brickley, writing for Dow Jones' Daily Bankruptcy Review, said
briefs were filed last week in the docket in Washington Mutual
Inc.'s bankruptcy case, as creditors and shareholders prepared for
the final round of a duel over the $7 billion payout plan.
According to DBR, most of the papers were filed under seal.

DBR notes closing arguments are scheduled for Aug. 24 in the U.S.
Bankruptcy Court in Wilmington, Delaware.

Creditors support the Plan proposed by the bank holding company.
The Plan proposes to billions of dollars of debt in full, with
interest.

Shareholders oppose the Plan as product of a flawed deal, and
claim it is tainted by hedge funds that took unfair advantage of
their seats at the bankruptcy bargaining table to trade for
profits.

Aurelius Capital Management, Centerbridge Partners, Appaloosa
Management and Owl Creek Asset Management have denied those
allegations.

According to DBR, confirmation of the Plan will mean big profits
for the hedge funds, which collectively own about $2.5 billion
worth of WaMu debt, some of it bought for pennies on the dollar.

DBR relates that J.P. Morgan Chase & Co., which bought WaMu, said
in its brief it has been "harmed terribly" by the delay in the
confirmation of WaMu's Plan -- collecting a lower rate of interest
on $2.5 billion that it will be getting under the settlement than
it is paying out on some $4 billion in WaMu cash that it has been
holding.  The report also says J.P. Morgan pointed a finger at
Aurelius in its final papers, complaining that the hedge fund
should not be allowed to raise questions about the propriety of
the settlement that it once supported.

According to the report, Aurelius has complained in court papers
that so much time has passed since the original settlement over
the loss of WaMu was struck that J.P. Morgan is getting a
windfall. The delay should mean a new and better deal for WaMu and
its creditors, the hedge fund said.

The report further relates that other unhappy investors say a
recent federal appeals court ruling should give Judge Mary Walrath
reason to take a second look at her finding that the Chapter 11
plan settlement was a reasonable deal for Washington Mutual.

The report recounts that the U.S. Court of Appeals in Washington,
D.C., revived a case that accuses J.P. Morgan of having had a hand
in WaMu's collapse. J.P. Morgan denies any wrongdoing and says the
appeals court reversal of a decision to throw the case out is of
limited import generally and meaningless in the context of WaMu's
bankruptcy.

                    About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- is a holding company for Washington Mutual
Bank as well as numerous non-bank subsidiaries.

Washington Mutual Bank was taken over on Sept. 25, 2008, by U.S.
government regulators.  The next day, WaMu and its affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  WaMu owns
100% of the equity in WMI Investment.  When WaMu filed for
protection from its creditors, it disclosed assets of
$32,896,605,516 and debts of $8,167,022,695.  WMI Investment
estimated assets of $500 million to $1 billion with zero debts.

WaMu is represented by Brian Rosen, Esq., at Weil, Gotshal &
Manges LLP in New York City; Mark D. Collins, Esq., at Richards,
Layton & Finger P.A. in Wilmington, Del.; and Peter Calamari,
Esq., and David Elsberg, Esq., at Quinn Emanuel Urquhart Oliver &
Hedges, LLP.  The Debtor tapped Valuation Research Corporation as
valuation service provider for certain assets.

Fred S. Hodara, Esq., at Akin Gump Strauss Hauer & Fled LLP in New
York and David B. Stratton, Esq., at Pepper Hamilton LLP in
Wilmington, Del., represent the Official Committee of Unsecured
Creditors.  Stephen D. Susman, Esq., at Susman Godfrey LLP and
William P. Bowden, Esq., at Ashby & Geddes, P.A., represent the
Equity Committee.  The official committee of equity security
holders also tapped BDO USA as its tax advisor. Stacey R.
Friedman, Esq., at Sullivan & Cromwell LLP and Adam G. Landis,
Esq., at Landis Rath & Cobb LLP in Wilmington, Del., represent
JPMorgan Chase, which acquired the WaMu bank unit's assets prior
to the Petition Date.

On Jan. 7, 2011, the U.S. Bankruptcy Court for the District of
Delaware entered a 107-page opinion determining that the global
settlement agreement, among certain parties including WMI, the
Federal Deposit Insurance Corporation and JPMorgan Chase Bank,
N.A., upon which the Plan is premised, and the transactions
contemplated therein, are fair, reasonable, and in the best
interests of WMI.  Additionally, the Opinion and related order
denied confirmation, but suggested certain modifications to the
Company's Sixth Amended Joint Plan of Affiliated Debtors that, if
made, would facilitate confirmation.

Washington Mutual has filed with the Bankruptcy Court a Modified
Sixth Amended Joint Plan and a related Supplemental Disclosure
Statement.  The Company believes that the Modified Plan has
addressed the Bankruptcy Court's concerns and looks forward to
returning to the Bankruptcy Court to seek confirmation of the
Modified Plan.

Carolyn Cairns was appointed as mediator in the WaMu proceedings.


WILLIAMS, LOVE: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Williams, Love, O'Leary & Powers, P.C.
          fdba Williams, Dailey & O'Leary, P.C.
          dba WLOP
              WDO.com
        9755 SW Barnes Road, #450
        Portland, OR 97225-6681

Bankruptcy Case No.: 11-37021

Chapter 11 Petition Date: August 14, 2011

Court: U.S. Bankruptcy Court
       District of Oregon

Judge: Elizabeth L. Perris

Debtor's Counsel: Albert N. Kennedy, Esq.
                  TONKON TORP LLP
                  888 SW 5th Avenue, #1600
                  Portland, OR 97204
                  Tel: (503) 802-2013
                  E-mail: al.kennedy@tonkon.com

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

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

The petition was signed by Michael L. Williams, president.

Debtor's List of 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Heather Brann                      Contract Dispute       $258,179
P.O. Box 11588
Portland, OR 97211

Bank of America                    Unsecured Loan          $65,779
100 N. Tyron Street
Charlotte, NC 28255

Golkow Technologies                Trade Vendor            $13,672
One Liberty Place, 51st Floor
1650 Market Street
Philadelphia, PA 19103

OSB Professional Liability Fund    Trade Vendor            $11,781

American Express                   Trade Vendor            $10,364

West Payment Center                Trade Vendor             $6,597

Ivize Services Inc.- Charleston    Trade Vendor             $5,505

Pension Planners Northwest         Trade Vendor             $1,829

Robert W. Johnson & Assoc          Trade Vendor             $1,822

Washington State Assoc for Justice Trade Vendor             $1,800

Merrill Communications             Trade Vendor             $1,750

Polestar Benefits Inc.             Employee Benefit         $1,068

Federal Express                    Trade Vendor               $890

Integra Telecom Inc.               Phone Service              $847

Discover-e Legal LLC               Trade Vendor               $825

Dex Media West LLC                 Trade Vendor               $750

American Bar Assn                  Trade Vendor               $534

Kalur Law Office                   Expense Reimbursement      $415

Comcast                            Internet Service           $295

Schmitt & Lehmann, Inc.            Trade Vendor               $287


WOODS CANYON: Files Schedules of Assets & Liabilities
-----------------------------------------------------
Woods Canyon Associates L.P. filed with the U.S. Bankruptcy Court
for the District of California, its schedules of assets and
liabilities, disclosing:

  Name of Schedule                Assets              Liabilities
  ----------------               -------              -----------
A. Real Property                      $0
B. Personal Property            $216,319
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                      $5,995,219
E. Creditors Holding
   Unsecured Priority
   Claims                                                      $0
F. Creditors Holding
   Unsecured Non-priority
   Claims                                                $305,997
                                 --------             -----------
      TOTAL                      $216,319              $5,995,219

Woods Canyon Associates L.P., based in Temecula, California, filed
for Chapter 11 bankruptcy (Bankr. C.D. Calif. Case No. 11-32418)
on July 11, 2011.  Ron Bender, Esq., and Krikor J. Meshefejian,
Esq., at Levene, Neale, Bender, Yoo & Brill LLP, in Los Angeles,
serve as the Debtor's bankruptcy counsel.  In its petition, the
Debtor estimated assets of $10 million to $50 million, and debts
of $1 million to $10 million.

The petition was signed by Paul Garrett, president/sole
shareholder of Woods Canyon's general partner.

Three affiliates Diaz Road Properties, LLC (Bankr. C.D. Calif.
Case No. 11-28473); RCI Redbird, LLC (Bankr. C.D. Calif. Case No.
11-28479); and RCI Rio Nedo, LLC (Bankr. C.D. Calif. Case No.
11-28470) filed separate Chapter 11 petitions on June 6, 2011.
Affiliate RCI Regional Grove, LLC (Bankr. C.D. Calif. Case No.
11-22055) filed on April 12, 2011.

Judge Deborah J. Saltzman was originally assigned to Woods
Canyon's case, but was later replaced by Judge Scott C. Clarkson,
who handled the affiliates' cases.


* U.S. Commercial Bankruptcy Filings Fall 11.6 Percent During July
------------------------------------------------------------------
American Bankruptcy Institute reports that the rate of corporate
bankruptcy filings continued to ease throughout July as business
owners and their lenders agree to avoid court-supervised
restructuring.


* U.S. Regulator Mulls Limiting Outside Auditors' Terms
-------------------------------------------------------
Michael Rapoport, writing for Dow Jones Newswires, reports that
the Public Company Accounting Oversight Board -- the U.S.
government's auditing regulator -- voted Tuesday to explore
whether companies should have to change their outside auditors
every several years.  The report says the move by the Board is the
first step toward requiring auditor "term limits" that could break
up client-auditor relationships that have lasted decades or even
more than a century in some cases.

The report relates Board Chairman James Doty said it is important
to explore audit-firm rotation as a move that might help counter
the pressures, incentives and mindset that might lead a
longstanding auditor to go easy on a client.

The report notes Tuesday's vote to explore audit-firm rotation was
unanimous, but some board members had qualms about the idea, even
as they agreed it should be considered.  "I have serious doubts
that mandatory rotation is a practical or cost-effective way of
strengthening independence," board member Daniel Goelzer said. But
he also said "the time is right to step back" and examine new
auditor-independence ideas.


* Simon Schmidt Joins Chadbourne & Parke in Dubai
-------------------------------------------------
The international law firm Chadbourne & Parke LLP disclosed that
Simon Schmidt has joined the firm as international partner in the
Dubai office.

In his many years working in the Middle East, Mr. Schmidt has
advised both regionally-based and international companies on
sophisticated, large scale transactions in the MENA region
involving joint ventures, mutual funds, real estate development
financings, private equity and mergers and acquisitions.  His
clients have included major international corporations, investment
banks, high net worth individuals and governmental entities.

"We are proud to welcome Simon to the firm as we continue to
bolster our presence in MENA," said Chadbourne Managing Partner
Andrew A. Giaccia.  "Simon's corporate and regulatory experience,
along with his in-depth familiarity with the region and its
business landscape, are a great fit for our existing practices and
our client base."

Mr. Schmidt was the first English lawyer admitted to the Qatar
Bar, was a partner at Patton Boggs LLP in the Middle East and
previously served as Chief Operating Officer and General Counsel
for Gulf Fund Management Ltd. in Dubai.

"The addition of Simon strengthens our capabilities in the Middle
East as Chadbourne expands its presence in that region and builds
upon its reputation for providing clients with practical,
solutions-oriented counsel in this diverse and developing market,"
said Daniel J. Greenwald, Dubai office Managing Partner. "With his
impressive corporate and commercial expertise and knowledge of
Middle Eastern markets, Simon reinforces our reputation as a go-to
firm for legal counseling in the UAE."

Mr. Schmidt earned his MA with honors from Oxford University in
1994 and his postgraduate diploma in law from BPP Law School in
London in 1996.  He also received his postgraduate diploma in
legal practice from Oxford University Institute of Legal Practice
in 1997.  Mr. Schmidt is admitted as a solicitor in England and
Wales.

                    About Chadbourne & Parke LLP

Chadbourne & Parke LLP, an international law firm headquartered in
New York City, provides a full range of legal services, including
mergers and acquisitions, securities, project finance, private
funds, corporate finance, venture capital and emerging companies,
energy/renewable energy, communications and technology, commercial
and products liability litigation, arbitration/IDR, securities
litigation and regulatory enforcement, special investigations and
litigation, intellectual property, antitrust, domestic and
international tax, insurance and reinsurance, environmental, real
estate, bankruptcy and financial restructuring, executive
compensation and employee benefits, employment law and ERISA,
trusts and estates, and government contract matters.


* FTI Appoints New Heads to Corp. Finance Restructuring Practice
----------------------------------------------------------------
FTI Consulting, Inc. on Aug. 16 announced that Kevin Lavin and
Robert (Bob) Duffy have been appointed co-leaders of the firm's
Corporate Finance/Restructuring practice, effective immediately.
Messrs. Lavin and Duffy will join the firm's executive committee,
which is composed of practice leaders and heads of key corporate
support functions.  Messrs. Lavin and Duffy will assume the role
from former practice leader DeLain Gray, who recently announced
his retirement.

The market-leading Corporate Finance/Restructuring practice of FTI
Consulting focuses on the strategic, operational, financial and
capital needs of businesses.  Professionals in this practice work
with companies, boards, private equity sponsors, lender and
creditor constituencies, and other parties-in-interest to address
a full spectrum of financial and transactional challenges,
including performance improvement, mergers and acquisitions,
restructuring, financings, post-acquisition integration,
valuations and tax issues.

"Corporate Finance/Restructuring is an integral part of our
business, and the strength of our intellectual capital is a key
driver in the success of our firm," said Jack Dunn, President and
Chief Executive Officer.  "I am pleased that Kevin and Bob have
accepted the charge to lead our practice.  Since joining the firm,
Kevin and Bob have made significant contributions to the firm, and
I feel we have the right team at the right time to direct our
practice.  Both of these professionals have demonstrated immense
dedication in their role as practice leader in their respective
regions, and I am confident they will direct the practice globally
in the same manner."

Mr. Lavin said, "Bob and I are thrilled with our new roles within
the practice.  We believe we are well-positioned to take on the
challenges and growth opportunities of our practice."

Mr. Duffy said, "Over the past quarter, FTI Consulting has taken
key steps to strengthen the various businesses in our practice,
including our transaction support business, in anticipation of the
resumption of a vibrant financing market for the remainder of the
year.  Kevin and I look forward to identifying new opportunities
for the practice at this pivotal time."

Mr. Lavin most recently was the senior managing director and head
of the New York metro region for the Corporate
Finance/Restructuring practice.  He has more than 25 years of
business consulting experience and possesses deep experience in
assisting companies in creating and instituting vital business
strategies specific to the transformation of underperforming
companies.  His expertise includes over 20 years of experience
advising boards of directors, senior management and creditor
constituencies of troubled companies in assessing operational and
financial key metrics and in developing and implementing revenue
enhancement initiatives.  Mr. Lavin has been involved in
operational and financial restructurings for a broad range of
industries, including large and middle market companies.
Mr. Lavin also has served in interim management roles as CEO, COO,
CFO and CRO.

Mr. Lavin is a certified public accountant and a certified
insolvency and restructuring advisor.  He has served on the board
of Global Sports, the New World Networks and the New York
Turnaround Management Association and is a member of the American
Institute of Certified Public Accountants, the Association of
Insolvency & Restructuring Advisors and the Turnaround Management
Association.

Mr. Duffy most recently served as the senior managing director and
head of the Northeast region of the Corporate
Finance/Restructuring practice.  Mr. Duffy also has been serving
as the national leader of the Retail Industry group for Corporate
Finance/Restructuring.  Mr. Duffy has led many large and high-
profile engagements for equity sponsors and has been instrumental
in leading project teams to help clients revitalize operations,
implement operational improvements and reposition businesses for
future growth.  Based in the Boston office, Mr. Duffy has more
than 25 years of experience, including 22 years serving as an
advisor to private equity firms, corporations, lenders and boards
of directors of underperforming businesses and companies in
transition.  Mr. Duffy has substantial experience in many
industries as a result of leading successful engagements involving
companies with operations in the United States and throughout the
world.  Mr. Duffy also has served as chief restructuring officer
for a number of his clients.

Mr. Duffy is a member of the American Bankruptcy Institute, the
Association of Insolvency & Restructuring Advisors and the
Turnaround Management Association.

                       About FTI Consulting

FTI Consulting, Inc. -- http://www.fticonsulting.com-- is a
global business advisory firm dedicated to helping organizations
protect and enhance enterprise value in an increasingly complex
legal, regulatory and economic environment.  With more than 3,700
employees located in 22 countries, FTI Consulting professionals
work closely with clients to anticipate, illuminate and overcome
complex business challenges in areas such as investigations,
litigation, mergers and acquisitions, regulatory issues,
reputation management and restructuring.  The company generated
$1.4 billion in revenues during fiscal year 2010.


* Steven Nigro Joins Allegiance Capital's New York Office
---------------------------------------------------------
Allegiance Capital, one off the largest private investment banks
serving the lower middle market, on Aug. 18 announced that
Steven Nigro has joined its New York office to serve as a Managing
Director, leading the firm's Financial Services Practice Group.
Mr. Nigro has closed more than 50 insurance, banking, broker-
dealer and specialty finance transactions during his career.

"We're very pleased Steven Nigro is joining Allegiance Capital and
will spearhead our investment banking initiatives within the
financial services industry," said Chris Parisi, Head of
Allegiance Capital's New York office.  "He has a very strong
record of serving clients in this sector, and has facilitated some
of the most significant corporate finance deals for middle market
financial services companies."

Before joining Allegiance Capital, Mr. Nigro was Chief Operating
Officer of Pfife Hudson Group, Inc., an investment bank focused on
financial services.  Previously he'd served as Managing Director
for Rhodes Financial Group L.L.C. and also for Hales & Company,
both financial advisory firms catering exclusively to the
financial services and insurance industries.

Prior to his career in investment banking, Mr. Nigro held
operating positions, as Chief Financial Officer for an insurance
carrier and for a securities broker-dealer, and also as a merchant
banker concentrating on the acquisition and operations of
financial institutions.  Mr. Nigro currently serves on the Board
of Directors of Maiden Holdings, Ltd., and is a Certified Public
Accountant in New York.

"Allegiance Capital is a solid platform steered by highly
experienced professionals, and I am thankful for their confidence
and looking forward to their support," Mr. Nigro said.  "The
Allegiance Capital operating philosophy and entrepreneurial spirit
is consistent with the needs of middle market financial
institutions that often rely on their investment banker for
business and operations guidance as well as financial advice.
Today's regulatory and operating environment is challenging for
financial firms, and we intend to meet those challenges together
with our clients."

               About Allegiance Capital Corporation

Allegiance Capital Corporation is a private investment bank
specializing in financing and selling businesses in the middle
market.  Founded in 1998, Allegiance Capital has won multiple
awards recognizing the value it delivers to clients.  Examples
include: 2009 Dealmaker of the Year (Dallas Business Journal),
2008 Boutique Investment Bank of the Year (M&A Advisor), 2006
Investment Bank of the Year (Dallas Business Journal).


* Recent Small-Dollar & Individual Chapter 11 Filings
-----------------------------------------------------

In Re Michael Irwin
   Bankr. M.D. Ala. Case No. 11-81167
      Chapter 11 Petition filed August 4, 2011

In Re Brigitte von dem Hagen
   Bankr. C.D. Calif. Case No. 11-43202
      Chapter 11 Petition filed August 4, 2011

In Re Kenneth Ottenbacher
   Bankr. C.D. Calif. Case No. 11-35125
      Chapter 11 Petition filed August 4, 2011

In Re Parviz Pazargad
   Bankr. C.D. Calif. Case No. 11-19386
      Chapter 11 Petition filed August 4, 2011

In Re Shahriar Zargar
   Bankr. C.D. Calif. Case No. 11-43217
      Chapter 11 Petition filed August 4, 2011

In Re Karen Nierhake
   Bankr. N.D. Calif. Case No. 11-48357
      Chapter 11 Petition filed August 4, 2011

In Re Steve Fernandez
   Bankr. N.D. Calif. Case No. 11-32868
      Chapter 11 Petition filed August 4, 2011

In Re San Diego Civic Light Opera Association, Inc.
         dba Starlight Theatre
         dba Starlight Opera
         dba Starlight Musical Theatre
    Bankr. S.D. Calif. Case No. 11-13070
      Chapter 11 Petition filed August 4, 2011
         See http://bankrupt.com/misc/casb11-13070.pdf

In Re Rafael Trevino
   Bankr. D. Conn. Case No. 11-51597
      Chapter 11 Petition filed August 4, 2011

In Re R & K Floors, Inc.
         dba Floor Factory Outlet
    Bankr. M.D. Fla. Case No. 11-05789
      Chapter 11 Petition filed August 4, 2011
         See  http://bankrupt.com/misc/flmb11-05789.pdf

In Re Lehman Southland, LLC
    Bankr. S.D. Fla. Case No. 11-31905
      Chapter 11 Petition filed August 4, 2011
         See http://bankrupt.com/misc/flsb11-31905.pdf

In Re Trailer Park Aquisition LLC
    Bankr. S.D. Fla. Case No. 11-31948
      Chapter 11 Petition filed August 4, 2011
         See http://bankrupt.com/misc/flsb11-31948.pdf

In Re Stephen Elliott
   Bankr. N.D. Ill. Case No. 11-31989
      Chapter 11 Petition filed August 4, 2011

In Re David Chance
      Sandra Chance
   Bankr. D. Md. Case No. 11-26021
      Chapter 11 Petition filed August 4, 2011

In Re Vida Agyei-Obese
   Bankr. D. Md. Case No. 11-25982
      Chapter 11 Petition filed August 4, 2011

In Re Renaissance Development Corporation, Inc.
    Bankr. E.D. Mich. Case No. 11-61157
      Chapter 11 Petition filed August 4, 2011
         See http://bankrupt.com/misc/mieb11-61157.pdf

In Re Edmond Finizie
   Bankr. D. Nev. Case No. 11-22415
      Chapter 11 Petition filed August 4, 2011

In Re Code 0, Inc.
        aka Underground
    Bankr. S.D.N.Y. Case No. 11-13732
      Chapter 11 Petition filed August 4, 2011
         See http://bankrupt.com/misc/nysb11-13732.pdf

In Re Donald Zurenda
   Bankr. M.D. Pa. Case No. 11-05450
      Chapter 11 Petition filed August 4, 2011

In Re Chateau de Ville LLC
   Bankr. W.D. Wash. Case No. 11-19267
      Chapter 11 Petition filed August 4, 2011
         filed pro se

In Re United Holding LLC
        dba Rebubliq
    Bankr. W.D. Wash. Case No. 11-19330
      Chapter 11 Petition filed August 4, 2011
         See http://bankrupt.com/misc/wawb11-19330.pdf

In Re William Stevens
   Bankr. M.D. Ala. Case No. 11-31992
      Chapter 11 Petition filed August 5, 2011

In Re William Michael Stevens
        aka Dr. Stevens
    Bankr. M.D. Ala. Case No. 11-31992
      Chapter 11 Petition filed August 5, 2011
         See  http://bankrupt.com/misc/almb11-31992.pdf

In Re Anthony Maestas
   Bankr. D. Ariz. Case No. 11-22565
      Chapter 11 Petition filed August 5, 2011

In Re Dietrich Rink
   Bankr. C.D. Calif. Case No. 11-43405
      Chapter 11 Petition filed August 5, 2011

In Re Donna Averna
   Bankr. C.D. Calif. Case No. 11-19413
      Chapter 11 Petition filed August 5, 2011

In Re Byron Alvarez
   Bankr. N.D. Calif. Case No. 11-57394
      Chapter 11 Petition filed August 5, 2011

In Re Robert Lewis
   Bankr. N.D. Calif. Case No. 11-48408
      Chapter 11 Petition filed August 5, 2011

In Re Gardner Clark
   Bankr. S.D. Calif. Case No. 11-13151
      Chapter 11 Petition filed August 5, 2011

In Re Vincent Connelly
   Bankr. D. Colo. Case No. 11-28742
      Chapter 11 Petition filed August 5, 2011

In Re Russell Walker
   Bankr. D. Del. Case No. 11-12479
      Chapter 11 Petition filed August 5, 2011

In Re Grover Hershberger
   Bankr. D. Kan. Case No. 11-12410
      Chapter 11 Petition filed August 5, 2011

In Re Frank Tranchina
   Bankr. E.D. La. Case No. 11-12545
      Chapter 11 Petition filed August 5, 2011

In Re R.J. Pilgrim, Inc.
    Bankr. D. Mass. Case No. 11-17461
      Chapter 11 Petition filed August 5, 2011
         See http://bankrupt.com/misc/mab11-17461.pdf

In Re Mehri Vaziri
   Bankr. D. Nev. Case No. 11-22512
      Chapter 11 Petition filed August 5, 2011

In Re Building Blocks Childcare Center of Guilderland, Inc.
    Bankr. N.D. N.Y. Case No. 11-12523
      Chapter 11 Petition filed August 5, 2011
         See http://bankrupt.com/misc/nynb11-12523.pdf

In Re Harvest Assembly of God, a Not for Profit Religious
Corporation
    Bankr. S.D.N.Y. Case No. 11-23594
      Chapter 11 Petition filed August 5, 2011
         See http://bankrupt.com/misc/nysb11-23594.pdf

In Re Lionel Yow
   Bankr. E.D. N.C. Case No. 11-06011
      Chapter 11 Petition filed August 5, 2011

In Re Leonard Brice
   Bankr. S.D. Ohio Case No. 11-58160
      Chapter 11 Petition filed August 5, 2011

In Re Ernesto Ortiz Felix
   Bankr. D. Puerto Rico Case No. 11-06639
      Chapter 11 Petition filed August 5, 2011

In Re Oscar Jimenez Gonzalez
   Bankr. D. Puerto Rico Case No. 11-06641
      Chapter 11 Petition filed August 5, 2011

In Re Arnold Dormer
   Bankr. W.D. Tenn. Case No. 11-27934
      Chapter 11 Petition filed August 5, 2011

In Re Seger Electric Co., Inc.
    Bankr. E.D. Va. Case No. 11-73542
      Chapter 11 Petition filed August 5, 2011
         See http://bankrupt.com/misc/vaeb11-73542.pdf

In Re Steve Gibson Trucking Inc.
    Bankr. W.D. Wash. Case No. 11-19349
      Chapter 11 Petition filed August 5, 2011
         See http://bankrupt.com/misc/wawb11-19349.pdf

In Re Crosby Square Self Storage & Warehouses, Inc.
    Bankr. M.D. Fla. Case No. 11-14949
      Chapter 11 Petition filed August 6, 2011
         See http://bankrupt.com/misc/flmb11-14949.pdf

In Re House of the Crossroads
    Bankr. W.D. Pa. Case No. 11-25001
      Chapter 11 Petition filed August 6, 2011
         See http://bankrupt.com/misc/pawb11-25001.pdf

In Re W. T. and Marian R. Lamb
   Bankr. S.D. Ga. Case No. 11-11522
      Chapter 11 Petition filed August 5, 2011

In Re 8241 Pinnacle, LLC
   Bankr. D. Ariz. Case No. 11-22604
      Chapter 11 Petition filed August 8, 2011
         filed pro se

In Re Faye Mincer
   Bankr. D. Ariz. Case No. 11-22603
      Chapter 11 Petition filed August 8, 2011

In Re FSX3, Inc.
        aka Fly-N-Hi Total Performance Center
   Bankr. D. Ariz. Case No. 11-22665
      Chapter 11 Petition filed August 8, 2011
         filed pro se

In Re Kevin D. Peck
   Bankr. D. Ariz. Case No. 11-22650
      Chapter 11 Petition filed August 8, 2011

In Re Linda Lockett
   Bankr. D. Ariz. Case No. 11-22668
      Chapter 11 Petition filed August 8, 2011

In Re Performance One Arizona, Inc.
    Bankr. D. Ariz. Case No. 11-22692
      Chapter 11 Petition filed August 8, 2011
         See http://bankrupt.com/misc/azb11-22692.pdf

In Re Erwin Kahulugan
   Bankr. C.D. Calif. Case No. 11-43739
      Chapter 11 Petition filed August 8, 2011

In Re Mara Gudis
   Bankr. C.D. Calif. Case No. 11-43701
      Chapter 11 Petition filed August 8, 2011

In Re Terryl Hess
   Bankr. C.D. Calif. Case No. 11-35445
      Chapter 11 Petition filed August 8, 2011

In Re Edward De Jong
   Bankr. N.D. Calif. Case No. 11-48467
      Chapter 11 Petition filed August 8, 2011

In Re Jeffrey Frimmersdorf
   Bankr. N.D. Calif. Case No. 11-57442
      Chapter 11 Petition filed August 8, 2011

In Re MKM Concessions
        dba Chrome Lotus
    Bankr. N.D. Calif. Case No. 11-12981
      Chapter 11 Petition filed August 8, 2011
         See http://bankrupt.com/misc/canb11-12981.pdf

In Re Sheldon Ciment
   Bankr. N.D. Calif. Case No. 11-32918
      Chapter 11 Petition filed August 8, 2011

In Re John Baker
   Bankr. S.D. Fla. Case No. 11-32225
      Chapter 11 Petition filed August 8, 2011

In Re Judith Bostick
   Bankr. S.D. Ga. Case No. 11-11543
      Chapter 11 Petition filed August 8, 2011

In Re RTC Properties, LLC
    Bankr. S.D. Miss. Case No. 11-02754
      Chapter 11 Petition filed August 8, 2011
         See http://bankrupt.com/misc/mssb11-02754.pdf

In Re GSC-Pittsboro, Inc.
        dba The General Store Cafe
    Bankr. M.D. N.C. Case No. 11-81281
      Chapter 11 Petition filed August 8, 2011
         See http://bankrupt.com/misc/ncmb11-81281.pdf

In Re Bruce Cunningham
   Bankr. D. N.H. Case No. 11-13017
      Chapter 11 Petition filed August 8, 2011

In Re Dan Mayor
   Bankr. D. Nev. Case No. 11-22556
      Chapter 11 Petition filed August 8, 2011

In Re Patrisha Osborne
   Bankr. S.D.N.Y. Case No. 11-37271
      Chapter 11 Petition filed August 8, 2011

In Re Roberto Toro Serrano
   Bankr. D. Puerto Rico Case No. 11-06679
      Chapter 11 Petition filed August 8, 2011

In Re Chung Dai
   Bankr. D. Utah Case No. 11-31537
      Chapter 11 Petition filed August 8, 2011

In Re Christopher Stewart
   Bankr. E.D. Va. Case No. 11-15822
      Chapter 11 Petition filed August 8, 2011

In Re Masquerade Wine Company, LLC
    Bankr. E.D. Wash. Case No. 11-03909
      Chapter 11 Petition filed August 8, 2011
         See http://bankrupt.com/misc/waeb11-03909.pdf

In Re The Martha Reynolds Trust
    Bankr. D. Alaska Case No. 11-00616
      Chapter 11 Petition filed August 9, 2011
         See http://bankrupt.com/misc/akb11-00616.pdf

In Re Brasia Enterprises LLC
   Bankr. C.D. Calif. Case No. 11-19561
      Chapter 11 Petition filed August 9, 2011
         filed pro se

In Re Ebrahim Akhlaghi
   Bankr. C.D. Calif. Case No. 11-43825
      Chapter 11 Petition filed August 9, 2011

In Re MarMatt, LLC
    Bankr. C.D. Calif. Case No. 11-19548
      Chapter 11 Petition filed August 9, 2011
         See http://bankrupt.com/misc/cacb11-19548.pdf

In Re Richard Blaskey
   Bankr. C.D. Calif. Case No. 11-21187
      Chapter 11 Petition filed August 9, 2011

In Re Richard Edler
   Bankr. C.D. Calif. Case No. 11-43896
      Chapter 11 Petition filed August 9, 2011

In Re Universal Ice Blast, Inc.
    Bankr. C.D. Calif. Case No. 11-21157
      Chapter 11 Petition filed August 9, 2011
         See http://bankrupt.com/misc/cacb11-21157.pdf

In Re Marilou Cayabyab
   Bankr. N.D. Calif. Case No. 11-57463
      Chapter 11 Petition filed August 9, 2011

In Re Mario Duse
   Bankr. N.D. Calif. Case No. 11-32935
      Chapter 11 Petition filed August 9, 2011

In Re Jose Barragan
   Bankr. S.D. Calif. Case No. 11-13337
      Chapter 11 Petition filed August 9, 2011

In Re William Bennett, Sr.
   Bankr. D. Dela. Case No. 11-12509
      Chapter 11 Petition filed August 9, 2011

In Re Johnnie Jones LLC
        dba Eco Day Spa
   Bankr. N.D. Ga. Case No. 11-73190
      Chapter 11 Petition filed August 9, 2011
         filed pro se

In Re AMP Gyms, LLC
    Bankr. D. Hawaii Case No. 11-02170
      Chapter 11 Petition filed August 9, 2011
         See http://bankrupt.com/misc/hib11-02170.pdf

In Re Gregory Brooks
   Bankr. W.D. La. Case No. 11-20800
      Chapter 11 Petition filed August 9, 2011

In Re A.M.Y. Realty, Inc.
   Bankr. D. N.J. Case No. 11-33711
      Chapter 11 Petition filed August 9, 2011
         filed pro se

In Re Custom Real Estate Holdings, Inc.
    Bankr. D. N.J. Case No. 11-33709
      Chapter 11 Petition filed August 9, 2011
         See http://bankrupt.com/misc/njb11-33709p.pdf
         See http://bankrupt.com/misc/njb11-33709c.pdf

In Re Duchess Diner, Inc.
    Bankr. D. N.J. Case No. 11-33740
      Chapter 11 Petition filed August 9, 2011
         See http://bankrupt.com/misc/njb11-33740.pdf

In Re Manwara Corp.
    Bankr. E.D. N.Y. Case No. 11-46868
      Chapter 11 Petition filed August 9, 2011
         See http://bankrupt.com/misc/nyeb11-46868.pdf

In Re Sholom Eisner
   Bankr. E.D. N.Y. Case No. 11-46862
      Chapter 11 Petition filed August 9, 2011

In Re Thomas Sterling
   Bankr. W.D. Pa. Case No. 11-25041
      Chapter 11 Petition filed August 9, 2011

In Re JEC Realty, LLC
    Bankr. D. R.I. Case No. 11-13198
      Chapter 11 Petition filed August 9, 2011
         See http://bankrupt.com/misc/rib11-13198.pdf

In Re Stat Petroleum Inc.
    Bankr. W.D. Texas Case No. 11-52765
      Chapter 11 Petition filed August 9, 2011
         See http://bankrupt.com/misc/txwb11-52765.pdf

In Re Larry Wright
   Bankr. D. Ariz. Case No. 11-22935
      Chapter 11 Petition filed August 10, 2011

In Re D. Kavanagh Motors, Inc.
    Bankr. C.D. Calif. Case No. 11-19617
      Chapter 11 Petition filed August 10, 2011
         See http://bankrupt.com/misc/cacb11-19617.pdf

In Re Control Progress Corporation
    Bankr. M.D. Fla. Case No. 11-15087
      Chapter 11 Petition filed August 10, 2011
         See http://bankrupt.com/misc/flmb11-15087.pdf

In Re Fernwoods Condominium Association #2, Inc.
    Bankr. S.D. Fla. Case No. 11-32446
      Chapter 11 Petition filed August 10, 2011
         See http://bankrupt.com/misc/flsb11-32446.pdf

In Re Whitt's Tow Away, Inc.
    Bankr. S.D. Fla. Case No. 11-32427
      Chapter 11 Petition filed August 10, 2011
         See http://bankrupt.com/misc/flsb11-32427p.pdf
         See http://bankrupt.com/misc/flsb11-32427c.pdf

In Re Lakeside of DeKalb, Inc.
    Bankr. N.D. Ga. Case No. 11-73343
      Chapter 11 Petition filed August 10, 2011
         See http://bankrupt.com/misc/ganb11-73343.pdf

In Re First Missionary Baptist Church Of Burnham Inc.
        dba Grace Church Of Burnham
    Bankr. N.D. Ill. Case No. 11-32677
      Chapter 11 Petition filed August 10, 2011
         See http://bankrupt.com/misc/ilnb11-32677.pdf

In Re William Danton
   Bankr. D. Maine Case No. 11-21177
      Chapter 11 Petition filed August 10, 2011

In Re Diego Trujillo
   Bankr. D. Nev. Case No. 11-22656
      Chapter 11 Petition filed August 10, 2011

In Re Noe Cuautle
   Bankr. D. Nev. Case No. 11-22718
      Chapter 11 Petition filed August 10, 2011

In Re Deodath Ramcharan
   Bankr. E.D. N.Y. Case No. 11-75692
      Chapter 11 Petition filed August 10, 2011

In Re World Laundry Realty, Inc.
    Bankr. E.D. N.Y. Case No. 11-46906
      Chapter 11 Petition filed August 10, 2011
         See http://bankrupt.com/misc/nyeb11-46906.pdf

In Re Mctag Grocery Store Inc.
   Bankr. S.D.N.Y. Case No. 11-23617
      Chapter 11 Petition filed August 10, 2011
         filed pro se

In Re Ronald Burgess
   Bankr. D. Ore. Case No. 11-63949
      Chapter 11 Petition filed August 10, 2011

In Re 275 Pleasant Valley Holdings Corp.
    Bankr. W.D. Pa. Case No. 11-25066
      Chapter 11 Petition filed August 10, 2011
         See http://bankrupt.com/misc/pawb11-25066.pdf

In Re Sunland Group, Inc.
        fka Sunland Engineering Company
    Bankr. W.D. Texas Case No. 11-11989
      Chapter 11 Petition filed August 10, 2011
         See http://bankrupt.com/misc/txwb11-11989.pdf



                           *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers"
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors" Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Howard C. Tolentino, Joseph Medel C. Martirez, Denise
Marie Varquez, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R.
Villacampa, Sheryl Joy P. Olano, Carlo Fernandez, Christopher G.
Patalinghug, and Peter A. Chapman, Editors.

Copyright 2011.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
Beard at 240/629-3300.


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