TCR_Public/110822.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

            Monday, August 22, 2011, Vol. 15, No. 232

                            Headlines

155 EAST TROPICANA: Hooters Casino Seeks Capital or Sale
155 EAST TROPICANA: Meeting of Creditors Scheduled for Sept. 8
155 EAST TROPICANA: Files Schedules of Assets and Liabilities
785 PARTNERS: Wants Until Sept. 19 to File Schedules, Statement
9064 HIGHWAY: Voluntary Chapter 11 Case Summary

ACCESS PHARMACEUTICALS: Incurs $1.2-Mil. Second Quarter Net Loss
AEOLUS PHARMACEUTICALS: Posts $6.3-Mil. Income in June 30 Quarter
AGY HOLDING: Files Form 10-Q, Incurs $6.2 Million Net Loss in Q2
AHF DEVELOPMENT: Substantive Consolidation Denied; Case Dismissed
ALION SCIENCE: Incurs $11.5 Million Second Quarter Net Loss

ALLEN FAMILY: Rejects H. S. Schwartz Employment Agreement
ALROSE KING: Files Schedules of Assets & Liabilities
AMERICAN NATURAL: Incurs $22,000 Net Loss in Second Quarter
AMERICAN PATRIOT: Incurs $631,700 Second Quarter Net Loss
AMERITOX LTD: S&P Withdraws Prelim. 'B' Corporate Credit Rating

ARCADIA RESOURCES: Incurs $2.8-Mil. Net Loss in June 30 Quarter
ASARCO LLC: Baker Botts Takes Home $128.5-Mil. in Fees
ASARCO LLC: 5th Cir. Says Reimbursement to Bidders Was Proper
AUTOPARTS HOLDINGS: S&P Assigns 'B+' Corporate Credit Rating
AUTOS VEGA: Creditor Mulling Cash Use Objection

AVIS BUDGET: DBRS Says 'B' Issue Rating Unaffected by Q2 Results
BARBETTA LLC: Taps Mark O'Neal, Robin Boylan as Property Brokers
BERNARD L. MADOFF: Feeder Files Adversary Suits to Recoup $18-Mil.
BLACK RAVEN: Incurs $1 Million Net Loss in Second Quarter
BONDS.COM GROUP: Expands Into Latin America Through Red Kite Pact

BONITA BEACH: Case Summary & 16 Largest Unsecured Creditors
BORDERS GROUP: Agree in Default on Six Mortgage Loans
BRADLEY WARKENTIN: Court Allows Bank's Claim for Attorney's Fees
BROOKLYN FEDERAL: Reports Net Income of $65,000 in June 30 Quarter
BROOKLYN FEDERAL: Announces Merger With Investors Bancorp

BUCKTOWN STATION: Court Gives Liquidation Plan a Chance
BURT REYNOLDS: Faces Foreclosure on Florida Mansion
CABIN HOLLOW: Voluntary Chapter 11 Case Summary
CALPIAN INC: Posts $758,900 Net Loss in Q2 Ended June 30
CALPINE CORP: Releases Remaining Stock, Resolves All Claims

CAPMARK FINANCIAL: Files Third Amended Joint Reorganization Plan
CASCO HOTEL: Voluntary Chapter 11 Case Summary
CHINA RUITAI: Reports $1.4 Million Second Quarter Net Income
CICERO INC: Incurs $540,000 Net Loss in Second Quarter
CIRTRAN CORP: Delays Filing of 2nd Quarter Form 10-Q

CNS RESPONSE: Reports $873,000 Net Profit in June 30 Quarter
COMMONWEALTH BANKSHARES: Incurs $26.2 Million Net Loss in Q2
COMMUNITY SHORES: Files Form 10-Q, Reports $522,000 Q2 Net Loss
CONQUEST PETROLEUM: Incurs $1.7 Million Second Quarter Net Loss
CONSOL ENERGY: Moody's Reviews 'Ba3' Corporate for Upgrade

CONTESSA PREMIUM: Debtor Changes Name to Contessa Liquidating
COVINA PALMS: Case Summary & 15 Largest Unsecured Creditors
CREATIVE VISTAS: Incurs $76,000 Net Loss in Second Quarter
CROSS BORDER: Incurs $66,600 Net Loss in Second Quarter
CRYSTALLEX INT'L: Incurs $10.1 Million Second Quarter Net Loss

CST INDUSTRIES: Moody's Downgrades CFR to 'B3'; Outlook Negative
DED DEVELOPMENT: Case Summary & Largest Unsecured Creditor
DELTATHREE INC: Files Form 10-Q, Incurs $1.6MM Net Loss in Q2
DENNIS BROWN: Case Summary & 17 Largest Unsecured Creditors
DPAC TECHNOLOGIES: Incurs $34,600 Net Loss in Second Quarter

DRAYTON VENTURES: Case Summary & 5 Largest Unsecured Creditors
EARTH SEARCH: Delays Filing of Quarterly Report on Form 10-Q
EAST COAST: Scott Morrison Okayed as Broker for N.C. Properties
EAU TECHNOLOGIES: Incurs $1 Million Net Loss in Second Quarter
EDINBURG INVESTMENTS: Case Summary & 9 Largest Unsecured Creditors

EIGHT BULLS: Dist. Court Says Rooker-Feldman Doctrine Inapplicable
ELEPHANT TALK: Incurs $6.7 Million Net Loss in Second Quarter
ENERGY FUTURE: To Offer $115 Million 9.75% Senior Notes Due 2019
ENERJEX RESOURCES: Posts $921,600 Net Income in Second Quarter
ENRON CORP: Creditors, Lay's Widow Fight Insurer Over Fees

ENTERPRISE TECHNOLOGY: In Receivership; Owners Evaluate Property
ERP-LINK CORP: Case Summary & 20 Largest Unsecured Creditors
EVERGREEN SOLAR: Makes Public Information Sent to Noteholders
EVERGREEN SOLAR: Wins OK to Cover Key Obligations in Chapter 11
EXTERRAN HOLDINGS: S&P Raises Rating on 4.25% Sr. Notes to 'BB'

FENTURA FINANCIAL: Incurs $245,000 Net Loss in Second Quarter
FIESTA RESTAURANT: S&P Assigns 'B' Corporate Credit Rating
FIRST SECURITY: Incurs $5.4 Million Net Loss in Second Quarter
FIRSTPLUS FIN'L: AMC Tapped as Appraiser for Aircraft
GALP CNA: Court Confirms Plans of Reorganization

GALP CYPRESS: Cypress Has Access to Keybank's Cash Until Aug. 31
GAMESTOP CORP: Q2 Profit Slumps 23% on Same-Store Sales Decline
GARLOCK SEALING: Hires Rust Consulting as Claims Handling Agent
GATEWAY HOTEL: Court to Tackle 'Market Testing' Plan on Wednesday
GERDAU AMERISTEEL: Moody's Withdraws 'Ba1' Corp. Family Rating

GOLD HILL: Seeks to Employ Hartsell & Williams as Special Counsel
GREAT LAKES AVIATION: Reports $606,500 2nd Quarter Net Income
GRUBB & ELLIS: Incurs $14.7 Million Second Quarter Net Loss
HILLSIDE VALLEY: Withdraws Emergency Motion for $6.5-Mil Financing
HOLLIFIELD RANCHES: Plan Outline Hearing Continued Until Aug. 31

HORIZON LINES: Subscription Deadline Expired Aug. 19
IMH FINANCIAL: Incurs $6.8 Million Net Loss in Second Quarter
INDYMAC BANCORP: Insurers Fight Coverage for $355MM Theft
J.B. POINDEXTER: Moody's Upgrades Corp. Family Rating to 'B2'
JACKSON GREEN: Stipulates With Lender on Use of Cash Collateral

JIM SLEMONS HAWAII: Court Declines to Review Disqualification Bid
JOE ALEXANDER: Barred From Pursuing Legal Malpractice Claim
KINETIC CONCEPTS: Moody's Assigns 'B2' Corporate Family Rating
KNOWLEDGEFUNDING OHIO: Moody's Revises August 16 Release
KZMSS AGAIN: Case Summary & 20 Largest Unsecured Creditors

LA VILLITA: Can Access Cash Collateral of Trust Until Aug. 31
LAUGH OUT: Case Summary & 9 Largest Unsecured Creditors
LAXMI REALTY: Case Summary & 19 Largest Unsecured Creditors
LEED CORP: Taps Maynes Taggart PLLC as Bankruptcy Counsel
LEED CORP: Committee Seeks to Retain C. Jorgensen as Attorney

LEHMAN BROTHERS: Wins Approval of Claims Determination Process
LEHMAN BROTHERS: Creditors back Private Sale of Rosslyn
LEHMAN BROTHERS: Recovers $881-Mil. From ADR Process
LEHMAN BROTHERS: Wins OK for Moulton for Foreclosure Litigation
LEHMAN BROTHERS: Drops Plea to Hire Pachulski for 2 Civil Cases

LEONID CHATKHAN: Bid for More Time to Challenge Discharge Denied
LIONCREST TOWERS: Plan Disclosures Approval or Dismissal Tomorrow
LODGER LLC: Case Summary & Largest Unsecured Creditor
LOS ANGELES DODGERS: Bingham Lose Bid to Strike Malpractice Claims
LUMEA STAFFING: Green Planet's Staffing Business in Chapter 11

MAJESTIC CAPITAL: Can Hire BDO USA as Tax Preparers
MARCO POLO: A.P. Moller Wants Adequate Protection for Cash Use
MARCO POLO: Propsoes $1-Mil. Loan from Credit AgriCole, RBS
MARINA BIOTECH: Posts $3.6-Mil. 2nd Quarter Net Loss
MECHANICAL TECHNOLOGY: Posts $395,000 Net Loss in 2nd Quarter

MEDIMEDIA USA: Moody's Junks Corporate Family Rating From 'B3'
MERCANTILE BANCORP: Incurs Roughly $2-Mil. 2nd Quarter Net Loss
MERCED FALLS: Case Summary & 4 Largest Unsecured Creditors
MOHEGAN TRIBAL: Reports $28.6-Mil. Net Income in June 30 Quarter
MOORE SORRENTO: Voluntary Chapter 11 Case Summary

MORGANS HOTEL: Units Ink $135MM Mortgage Loan with Deutsche Bank
MRA PELICAN: Sec. 341 Creditors Meeting Set for Sept. 23
MRA PELICAN: Fannie Mae Challenges Bid to Repossess Apartment
MRA PELICAN: Hiring Shraiberg Ferrara as Bankruptcy Counsel
MUNICIPAL MORTGAGE: Incurs $12.6-Mil. Net Loss in Second Quarter

NCO GROUP: Incurs $32.3 Million Net Loss in Second Quarter
NEBRASKA BOOK: NBC Posts $23.7 Million Net Loss in June 30 Quarter
NEDAK ETHANOL: Incurs $2.3 Million Net Loss in Second Quarter
NEW JERSEY ECONOMIC: Moody's Maintains 'Ba2' Rating on Bonds
NEWPAGE CORP: Incurs $132MM Q2 Net Loss, Warns of Bankruptcy

NOMOTO INVESTMENTS: Case Summary & Largest Unsecured Creditor
NPS PHARMACEUTICALS: Amends Amgen Pact, To Retire Series B Notes
NUMOBILE INC: Incurs $434,000 Net Loss in Second Quarter
NURSERYMEN'S EXCHANGE: Court OKs Epiq as Committee's Info Agent
O&G LEASING: Court Approves Summit Group as Financial Advisor

O'FALLON HOSPITALITY: Case Summary & 20 Largest Unsec Creditors
OCEAN PLACE: Has Access to AFP's Cash Collateral Until Oct. 18
OPTIMUMBANK HOLDINGS: Incurs $1.9 Million Second Quarter Net Loss
PMMB INVESTMENTS: Case Summary & 20 Largest Unsecured Creditors
SALT POINT: Case Summary & 6 Largest Unsecured Creditors

SCHOMAC GROUP: Files Schedules of Assets and Liabilities
SCHOMAC GROUP: Sec. 341 Creditors Meeting Set for Sept. 8
SCHOMAC GROUP: Has Permission to Hire Mesch Clark as Counsel
SCHOMAC GROUP: Hiring Dennis Winans CPA as Consultant
SCHOMAC GROUP: Seeks to Use YSI Dividends & Rents

STELLAR GT: Counsel Must Serve Papers to Chapter 7 Entity
STONY POINT LAND: Dist. Ct. Affirms Ruling in Hubbard Suit
STRANAHAN INDUSTRIES: Case Summary & 2 Largest Unsecured Creditors
THOMAS GRABANSKI: Crop Production Services' Claim Is Dischargeable
UHA CORPORATION: Files for Bankruptcy in Columbus, Ohio

UHA CORPORATION: Case Summary & Largest Unsecured Creditor
UPSTATE HEIGHTS: Case Summary & Largest Unsecured Creditor
WASTE2ENERGY HOLDINGS: Aug. 26 Hearing on Bid for Ch. 11 Trustee

* BOND PRICING -- For Week From Aug. 15 - 19, 2011

                            *********

155 EAST TROPICANA: Hooters Casino Seeks Capital or Sale
--------------------------------------------------------
Steve Green at Vegas Inc. reports that Hooters casino resort in
Las Vegas wants to explore alternatives to a forced foreclosure
including raising capital, a merger or a sale of the property.

According to the report, Hooters casino's parent company, 155 East
Tropicana LLC, filed for Chapter 11 bankruptcy reorganization to
block a foreclosure planned by lender Canpartners Realty Holding
Co. IV, an affiliate of investment company Canyon Capital Realty
Advisors of Los Angeles.

The report notes the 696-room property on Tropicana Avenue, just
east of the Las Vegas Strip, is encumbered by debt and liabilities
of $177.8 million, according to an updated filing Aug. 15.
Because liens for $14.5 million in note debt are subordinate to
liens in a credit facility, the property's effective amount of
debt and liabilities is about $163.3 million.

This includes Canpartners' secured claim of $162.2 million -- debt
Hooters points out was bought at a deep discount.  The amount of
that discount hasn't been disclosed.  The hotel-casino real estate
was valued by the company at $46.7 million as of Aug. 15.
Including the real estate and inventory, the company's assets
total just $63.2 million, he adds.

Bankruptcy Judge Bruce Markell in Las Vegas on Aug. 4 told Hooters
casino attorneys this is a case in which Hooters needs to either
turn the property over to Canpartners, quickly come up with some
new capital or reach a consensual restructuring deal with
Canpartners, according to the report.

Vegas Inc., citing papers filed with the Court, says 155 East
Tropicana signaled it's looking at various options as it asked
Judge Markell for permission to hire financial advisers Innovation
Capital LLC of El Segundo, Calif.; and Alvarez & Marsal North
America LLC of New York.

One filing said Innovation Capital would work on "raising senior
debt and/or junior capital for the company, including refinancing
or recapitalizations; or a sale, merger or acquisition of the
company."

The report relates that another Hooters filing said Alvarez &
Marsal would provide financial and restructuring advisory services
including reviewing Hooters' operations, liquidity situation,
business plan, budgets and loan agreements; and would provide
valuation analyses and assist in debt restructuring initiatives.

                     About 155 East Tropicana

155 East Tropicana LLC owns the world's first Hooters Casino
Hotel, a 696-room and 4-suite hotel located one block from the Las
Vegas Strip and across Tropicana Blvd. from MGM Grand.

155 East Tropicana, along with an affiliate, sought Chapter 11
protection (Bankr. D. Nev. Case No. 11-22216) on Aug. 1, 2011.
155 East sought bankruptcy protection to stop a scheduled Aug. 8
foreclosure of the second-lien debt.  The two secured credit
facilities were accelerated early this year.  Canpartners Realty
Holding Co. IV LLC acquired 98.4% of the $130 million in 8.75%
second-lien senior secured notes.  An additional $32.2 million of
interest is owing on the second-lien debt.  US Bank NA is the
indenture trustee.  Holders of the $14.5 million in first-lien
debt have Wells Fargo Capital Finance Inc. as their agent.  The
first-lien obligation is fully secured.  Interest has been paid
currently at the default rate.

Brigid M. Higgins, Esq., at Gordon & Silver, Ltd., in Las Vegas,
Nevada, serves as counsel to the Debtors.  Garden City Group,
Inc., is the claims agent.

155 East Tropicana estimated $50 million in assets and
$100 million to $500 million in liabilities as of the Chapter 11
filing.


155 EAST TROPICANA: Meeting of Creditors Scheduled for Sept. 8
--------------------------------------------------------------
The U.S. Trustee for Region 17 will convene a meeting of creditors
in 155 East Tropicana, LLC and 155 East Tropicana Finance Corp.'s
Chapter 11 case on Sept. 8, 2011, at 2:00 p.m.  The meeting will
be held at Foley Federal Building and U.S. Courthouse, 300 Las
Vegas Blvd., South, Room 1500, Las Vegas, Nevada.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

                     About 155 East Tropicana

155 East Tropicana LLC owns the world's first Hooters Casino
Hotel, a 696-room and 4-suite hotel located one block from the Las
Vegas Strip and across Tropicana Blvd. from MGM Grand.

155 East Tropicana, along with an affiliate, sought Chapter 11
protection (Bankr. D. Nev. Case No. 11-22216) on Aug. 1, 2011.
155 East sought bankruptcy protection to stop a scheduled Aug. 8
foreclosure of the second-lien debt.  The two secured credit
facilities were accelerated early this year.  Canpartners Realty
Holding Co. IV LLC acquired 98.4% of the $130 million in 8.75%
second-lien senior secured notes.  An additional $32.2 million of
interest is owing on the second-lien debt.  US Bank NA is the
indenture trustee.  Holders of the $14.5 million in first-lien
debt have Wells Fargo Capital Finance Inc. as their agent.  The
first-lien obligation is fully secured.  Interest has been paid
currently at the default rate.

The Debtors are being advised by Brigid M. Higgins, Esq., at
Gordon & Silver, Ltd., in Las Vegas, Nevada, as counsel and
Innovation Capital LLC of El Segundo, Calif. and Alvarez & Marsal
North America LLC of New York as financial advisors.  Garden City
Group, Inc., is the claims agent.

155 East Tropicana scheduled $62,236,842 in assets and
$177,806,045 in liabilities as of the Chapter 11 filing.


155 EAST TROPICANA: Files Schedules of Assets and Liabilities
-------------------------------------------------------------
155 East Tropicana, LLC, filed with the U.S. Bankruptcy Court for
the District of Nevada its schedules of assets and liabilities,
disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $46,700,000
  B. Personal Property           $16,536,842
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                              $176,718,168
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                        $1,087,877
                                 -----------      -----------
        TOTAL                    $62,236,842     $177,806,045

                     About 155 East Tropicana

155 East Tropicana LLC owns the world's first Hooters Casino
Hotel, a 696-room and 4-suite hotel located one block from the Las
Vegas Strip and across Tropicana Blvd. from MGM Grand.

155 East Tropicana, along with an affiliate, sought Chapter 11
protection (Bankr. D. Nev. Case No. 11-22216) on Aug. 1, 2011.
155 East sought bankruptcy protection to stop a scheduled Aug. 8
foreclosure of the second-lien debt.  The two secured credit
facilities were accelerated early this year.  Canpartners Realty
Holding Co. IV LLC acquired 98.4% of the $130 million in 8.75%
second-lien senior secured notes.  An additional $32.2 million of
interest is owing on the second-lien debt.  US Bank NA is the
indenture trustee.  Holders of the $14.5 million in first-lien
debt have Wells Fargo Capital Finance Inc. as their agent.  The
first-lien obligation is fully secured.  Interest has been paid
currently at the default rate.

The Debtors are being advised by Brigid M. Higgins, Esq., at
Gordon & Silver, Ltd., in Las Vegas, Nevada, as counsel and
Innovation Capital LLC of El Segundo, Calif. and Alvarez & Marsal
North America LLC of New York as financial advisors.  Garden City
Group, Inc., is the claims agent.


785 PARTNERS: Wants Until Sept. 19 to File Schedules, Statement
---------------------------------------------------------------
785 Partners LLC, asks the U.S. Bankruptcy Court for the Southern
District of New York to extend until Sept. 19, 2011, the time to
file its schedules of assets and liabilities, statements
of financial affairs and lists of executory contracts and
unexpired leases.

The Debtor requires additional time to prepare the schedules.

The Debtor tells the Court that on Oct. 6, 2010, a receiver was
appointed in the foreclosure action to take control of the its
property -- a land and a 122 unit luxury residential building
located at 785 Eighth Avenue, New York City.

The Debtor's lenders PB Capital Corporation and TD Bank conveyed
the loan documents to First Manhattan Developments REIT.  First
Manhattan requested to retain the receiver in control of the
property.  The hearing on the motion is set for Sept. 8, 2011.
Under the Court's scheduling order, the receiver remains in
possession of the property.

On Aug. 12, 2011, First Manhattan provided the Debtor a schedule
of expenses relative to the property from the receiver for the
period Nov. 1, 2010, until Aug. 11, 2011.  The Debtor notes that
it was the first financial information the receiver has ever
provided to the Debtor relative to the property.

                      About 785 Partners LLC

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


9064 HIGHWAY: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: 9064 Highway 285 LLC
        4036 West 104th Place
        Westminster, CO 80031

Bankruptcy Case No.: 11-29539

Chapter 11 Petition Date: August 16, 2011

Court: United States Bankruptcy Court
       District of Colorado (Denver)

Judge: Howard R. Tallman

Debtor's Counsel: Stephen E. Berken, Esq.
                  LAW OFFICES OF STEPHEN BERKEN
                  1159 Delaware St.
                  Denver, CO 80204
                  Tel: (303) 623-4357
                  Fax: (720) 554-7853
                  E-mail: MidtowneFin@aol.com

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

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

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

The petition was signed by Spencer L. House, managing member.


ACCESS PHARMACEUTICALS: Incurs $1.2-Mil. Second Quarter Net Loss
----------------------------------------------------------------
Access Pharmaceuticals, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $1.26 million on $151,000 of total revenues for the
three months ended June 30, 2011, compared with net income of
$1.79 million on $105,000 of total revenues for the same period a
year ago.

The Company also reported a net loss of $3.16 million on $301,000
of total revenues for the six months ended June 30, 2011, compared
with net income of $2.88 million on $207,000 of total revenues for
the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $5.06 million
in total assets, $29 million in total liabilities and a $23.94
million total stockholders' deficit.

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

                        http://is.gd/saB35u

                    About Access Pharmaceuticals

Access Pharmaceuticals, Inc., is an emerging biopharmaceutical
company focused on developing pharmaceutical products primarily
based upon its nano-polymer chemistry technologies and other drug
delivery technologies.  The Company currently has one approved
product, one product candidate at Phase 3 of clinical development,
three product candidates in Phase 2 of clinical development and
other product candidates in pre-clinical development.

The Company reported a net loss of $7.54 million on $481,000 of
revenue for the year ended Dec. 31, 2010, compared with a net loss
of $17.34 million on $352,000 of revenue during the prior year.

As reported by the TCR on April 5, 2011, Whitley Penn LLP, in
Dallas, Texas, expressed substantial doubt about the Company's
ability to continue as a going concern following the Company's
2010 results.  The independent auditors noted that the Company has
had recurring losses from operations, negative cash flows from
operating activities and has an accumulated deficit.


AEOLUS PHARMACEUTICALS: Posts $6.3-Mil. Income in June 30 Quarter
-----------------------------------------------------------------
Aeolus Pharmaceuticals, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q reporting
net income of $6.29 million on $1.91 million of contract revenue
for the three months ended June 30, 2011, compared with a net loss
of $4.62 million on $0 of contract revenue for the same period a
year ago.

The Company also reported net income of $2.45 million on
$2.69 million of contract revenue for the nine months ended
June 30, 2011, compared with a net loss of $12.98 million on $0 of
contract revenue for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $1.45 million
in total assets, $22.82 million in total liabilities, and a
$21.36 million total stockholders' deficit.

Haskell & White LLP, in Irvine, California, expressed substantial
doubt about the Company's ability to continue as a going concern
after auditing the Company's financial statements for fiscal year
ended Sept. 30, 2010.  The independent auditors noted that the
Company has suffered recurring losses, negative cash flows from
operations and management believes the Company does not currently
possess sufficient working capital to fund its operations past the
second quarter of fiscal 2012.

The Company reported a net loss of $25.9 million, which included a
non-cash charge of $21.3 million related to increases in the fair
value of warrants, for fiscal 2010, compared with a net loss of
$2.3 million for fiscal 2009.  The Company did not generate any
revenue during fiscal 2010 or fiscal 2009.

"Progress, under the $10.4 million base period of our development
contract with BARDA, which could total up to $118.4 million, if
all of the options are exercised, continued during the quarter
with the accomplishment of several milestones and significant
progress in the animal model development and validation and
manufacturing areas," stated John L. McManus, president and chief
executive officer, in a press release.  "Studies are underway to
confirm the animal models that will be used during the second half
of this year and in future contract periods to select the dose,
duration of treatment and design the pivotal efficacy studies."

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

                        http://is.gd/RBhFRl

                    About Aeolus Pharmaceuticals

Based in Mission Viejo, California, Aeolus Pharmaceuticals Inc.
(OTC BB: AOLS) -- http://www.aeoluspharma.com/-- is developing a
variety of therapeutic agents based on its proprietary small
molecule catalytic antioxidants, with AEOL 10150 being the first
to enter human clinical evaluation.  AEOL 10150 is a patented,
small molecule catalytic antioxidant that mimics and thereby
amplifies the body's natural enzymatic systems for eliminating
reactive oxygen species, or free radicals.  Studies funded by the
National Institutes for Health are currently underway evaluating
AEOL 10150 as a treatment for exposure to radiation, sulfur
mustard gas and chlorine gas.  A second compound, AEOL 11207, has
demonstrated efficacy in animal models of Parkinson's disease and
is currently being evaluated as a potential treatment for
epilepsy.


AGY HOLDING: Files Form 10-Q, Incurs $6.2 Million Net Loss in Q2
----------------------------------------------------------------
AGY Holding Corp. filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q reporting 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
$49.30 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 $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 noncontrolling
interest and $7.27 million total shareholders' equity.

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

                        http://is.gd/EVEibT

                         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.


AHF DEVELOPMENT: Substantive Consolidation Denied; Case Dismissed
-----------------------------------------------------------------
Bankruptcy Judge Robert L. Jones dismissed the bankruptcy case of
AHF Development, Ltd., in an Aug. 17, 2011 Memorandum Opinion, a
copy of which is available at http://is.gd/PPuRlcfrom Leagle.com.
Dismissal was sought by the United States Trustee and joined by
Attebury Family Partnership, L.P. and the 2001 Scott D. Rice
Trust.  Opposing dismissal and moving to substantively consolidate
the case with the bankruptcy case of American Housing Foundation
are American Housing Foundation, the Official Unsecured Creditors
Committee of American Housing Foundation, and certain
investors/creditors.  They were later joined by Walter O'Cheskey,
the Chapter 11 Trustee of American Housing Foundation.

AHF Development, Ltd., filed for Chapter 11 bankruptcy (Bankr.
N.D. Tex. Case No. 09-20703) in 2009.  At the time of its
bankruptcy filing, Development had no ongoing business operations.
Several years prior, it served as a "qualified intermediary" for
"1031 exchanges" in connection with transactions with Matt Malouf,
who became a creditor in the case.

Founded as a Texas 501(c)(3) non-profit corporation in 1989,
American Housing Foundation owned and operated more than 12,500
residential units, making AHF one of the nation's largest entities
primarily dedicated to the workforce housing market.  Residents in
AHF properties benefit from significantly below market rental
rates.

AHF was initially placed in Chapter 11 on April 21, 2009, through
the filing of an involuntary bankruptcy petition by nine of its
creditors.  The petitioning creditors were represented by David R.
Langston, Esq., at Mullin, Hoard & Brown, in Lubbock, Texas.
Robert L. Templeton, who asserted a $5.1 million claim on account
of an investment, had the largest claim among the petitioners.

AHF opposed the involuntary.  On June 11, 2009, AHF filed a
voluntary petition  (Bankr. N.D. Tex. Case No. 09-20373) to avoid
potential issues associated with a non-profit entity consenting to
relief in the involuntary action.  Judge Robert L. Jones handled
the case.  Robert Yaquinto, Jr., Esq., at Sherman & Yaquinto, LLP,
represented AHF in its restructuring efforts.  At the time of the
filing, AHF estimated it had assets and debts of $100 million to
$500 million.  Walter O'Cheskey was later appointed as Chapter 11
trustee.  Focus Management Group served as advisor to the trustee.


ALION SCIENCE: Incurs $11.5 Million Second Quarter Net Loss
-----------------------------------------------------------
Alion Science and Technology Corporation reported a net loss of
$11.47 million on $192.79 million of contract revenue for the
three months ended June 30, 2011, compared with a net loss of
$13.11 million on $213.31 million of contract revenue for the same
period during the prior year.

The Company also reported a net loss of $32.27 million on $596.11
million of contract revenue for the nine months ended June 30,
2011, compared with a net loss of $11.89 million on $622.59
million of contract revenue for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed
$616.44 million in total assets, $722.39 million in total
liabilities, $154.78 million in redeemable common stock, $20.78
million in common stock warrants, $177,000 in accumulated other
comprehensive loss, and a $281.34 million in accumulated deficit.

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

                        http://is.gd/w2jCSm

                        About Alion Science

Alion Science and Technology Corporation, based in McLean,
Virginia, is an employee-owned company that provides scientific
research, development, and engineering services related to
national defense, homeland security, and energy and environmental
analysis.  Particular areas of expertise include communications,
wireless technology, netcentric warfare, modeling and simulation,
chemical and biological warfare, program management.

Alion Science reported a net loss of $15.23 million on
$833.98 million of contract revenue for the year ended Sept. 30,
2010, compared with a net loss of $17.04 million on
$802.22 million of contract revenue during the prior year.

                           *     *     *

Alion carries 'Caa3' corporate family and probability of default
Ratings, with stable outlook, from Moody's.  Alion carries a 'B-'
corporate credit rating, with stable outlook, from Standard &
Poor's.

Moody's said in March 2010,"The Caa1 corporate family rating
would balance the continued high leverage against a promising
business backlog that could sustain the good 2009 revenue growth
rate, though credit challenges would remain pronounced."


ALLEN FAMILY: Rejects H. S. Schwartz Employment Agreement
---------------------------------------------------------
Allen Family Foods, Inc., et al., sought and obtained approval
from the U.S. Bankruptcy Court for the District of Delaware to
reject an employment agreement between Harry S. Schwartz and Allen
Family Foods, effective as of Jul. 6, 2011.

Any claim for damages arising from the rejection of the Agreement
will be filed in accordance with the procedures for filing general
unsecured claims to be established by further Court order pursuant
to Sections 105(a), 501, 502, and 1111(a) of the Bankruptcy Code
and Rules 2002(a)(7), 3003(c)(3), and 5005(a) of the Federal Rules
of Bankruptcy Procedure for filing proofs of claim.  Any claims
not timely filed will be forever barred.

                      About Allen Family

Allen Family Foods Inc. is a 92-year-old Seaford, Del., poultry
company.

Allen Family Foods and two affiliates, Allen's Hatchery Inc. and
JCR Enterprises Inc., filed for Chapter 11 bankruptcy protection
(Bankr. D. Del. Case No. 11-11764) on June 9, 2011.  It estimated
assets and liabilities between $50 million and $100 million in its
petition.

Robert S. Brady, Esq., and Sean T. Greecher, Esq., at Young,
Conaway, Stargatt & Taylor, in Wilmington, Delaware, serve as
counsel to the Debtors.  FTI Consulting is the financial advisor.
BMO Capital Markets is the Debtors' investment banker.  Epiq
Bankruptcy Solutions LLC is the claims and notice agent.

Lowenstein Sandler PC and Womble Carlyle Sandridge & Rice, PLLC,
serve as counsel for the official committee of unsecured
creditors.  J.H. Cohn LLP serves as the Committee's financial
advisor.


ALROSE KING: Files Schedules of Assets & Liabilities
----------------------------------------------------
Alrose King David LLC filed with the U.S. Bankruptcy Court for the
Eastern District of New York its schedules of assets and
liabilities, disclosing:

  Name of Schedule               Assets                Liabilities
  ----------------              -------                -----------
A. Real Property                 $25,000,000
B. Personal Property                      $0
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                      $36,447,013
E. Creditors Holding
   Unsecured Priority
   Claims                                                       $0
F. Creditors Holding
   Unsecured Non-priority
   Claims                                               $2,169,603
                                 -----------           -----------
      TOTAL                      $25,000,000           $38,616,617

Alrose King David LLC is a special entity established by the
Alrose Group to own the 143-room, beachfront hotel property called
the Allegria Hotel & Spa in Long Beach, Long Island.  Alrose King
David filed for Chapter 11 bankruptcy protection (Bankr. E.D.N.Y.
Case No. 11-75361) in Brooklyn on July 28, 2011, estimating
between $10 million and $50 million in both debts and assets.
Judge Dorothy Eisenberg presides over the case.  Patrick T.
Collins, Esq., at Farrell Fritz, P.C., serves as bankruptcy
counsel.  The petition was signed by Allen Rosenberg, managing
member.


AMERICAN NATURAL: Incurs $22,000 Net Loss in Second Quarter
-----------------------------------------------------------
American Natural Energy Corporation filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q,
reporting a net loss of $22,071 on $653,951 of revenue for the
three months ended June 30, 2011, compared with net income of
$91,965 on $725,703 of revenue for the same period during the
prior year.

The Company also reported a net loss of $642,720 on $1.31 million
of revenue for the six months ended June 30, 2011, compared with a
net loss of $553,433 on $1.63 million of revenue for the same
period a year ago.

The Company's balance sheet at June 30, 2011, showed
$16.98 million in total assets, $9.29 million in total
liabilities, and $7.69 million in total stockholders' equity.

The Company reported a net loss of $2.06 million on $2.57 million
of revenue for the year ended Dec. 31, 2010, compared with net
income of $23.95 million on $1.08 million of revenue during the
prior year.

As reported by the TCR on April 5, 2011, MaloneBailey, LLP, in
Houston, Texas, expressed substantial doubt about the Company's
ability to continue as a going concern.  The independent auditors
noted that the Company incurred a net loss in 2010 and has a
working capital deficiency and an accumulated deficit at Dec. 31,
2010.

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

                        http://is.gd/jeqKx2

                       About American Natural

American Natural Energy Corporation (TSX Venture: ANR.U) is a
Tulsa, Oklahoma-based independent exploration and production
company with operations in St. Charles Parish, Louisiana.


AMERICAN PATRIOT: Incurs $631,700 Second Quarter Net Loss
---------------------------------------------------------
American Patriot Financial Group, Inc., filed with the U.S.
Securities and Exchange Commission its quarterly report on Form
10-Q, reporting a net loss of $631,736 on $939,663 of total
interest and dividend income for the three months ended June 30,
2011, compared with a net loss of $223,248 on $1.40 million of
total interest and dividend income for the same period during the
prior year.

The Company also reported a net loss of $913,621 on $1.93 million
of total interest and dividend income for the six months ended
June 30, 2011, compared with a net loss of $1.32 million on $2.78
million of total interest and dividend income for the same period
a year ago.

The Company's balance sheet at June 30, 2011, showed
$95.80 million in total assets, $94.54 million in total
liabilities, and $1.26 million in total stockholders' equity.

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

                        http://is.gd/CA8HxJ

                      About American Patriot

Based in Greenville, Tenn., American Patriot Financial Group, Inc.
is a one-bank holding company formed as a Tennessee corporation to
own the shares of American Patriot Bank.  The Bank is the only
subsidiary of the Corporation.

American Patriot Bank commenced operations as a state chartered
bank on July 9, 2001.  The Bank had total assets of roughly
$118 million at Dec. 31, 2009.  The Bank is not a member of
the Federal Reserve System.

The Bank's customer base consists primarily of small to medium-
sized business retailers, manufacturers, distributors, land
developers, contractors, professionals, service businesses and
local residents.

On Aug. 18, 2010, the Company received from the Federal Deposit
Insurance Corporation, a Supervisory Prompt Corrective Action
Directive, dated August 17, 2010, due to American Patriot Bank's
"significantly undercapitalized" status.  The Directive requires
that the Bank submit an acceptable capital restoration plan on or
before August 31, 2010, providing that, among other things, at a
minimum, the Bank will  restore and maintain its capital to the
level of "adequately capitalized."

The Company reported a net loss of $2.29 million on $5.04 million
of total interest and dividend income for the year ended Dec. 31,
2010, compared with a net loss of $4.02 million on $6.23 million
of total interest and dividend income during the prior year.

As reported by the TCR on April 6, 2011, Hazlett, Lewis & Bieter,
PLLC, in Chattanooga, Tennessee, expressed substantial doubt about
the Company's ability to continue as a going concern.  The
independent auditors noted that the Company has incurred
significant losses for the past four years resulting in a retained
deficit of $5,946,761.  At Dec. 31, 2010, the Company and its
subsidiary were significantly undercapitalized based on regulatory
standards and has consented to an Order to Cease and Desist with
its primary federal regulator that requires, among other
provisions, that it achieve regulatory capital thresholds that are
significantly in excess of its current actual capital levels.  The
Company's nonperforming assets have increased significantly during
2010 and 2009 related primarily to deterioration in the credit
quality of its loans collateralized by real estate.  The Company,
at the holding company level, has a note payable that was due Feb.
28, 2011; however, the Company does not currently have sufficient
funds to pay off this note and it is uncertain whether the lender
will renew the note, or whether the Company can raise sufficient
capital to pay off the note.  This note is securitized by 100% of
the stock of the subsidiary.


AMERITOX LTD: S&P Withdraws Prelim. 'B' Corporate Credit Rating
---------------------------------------------------------------
Standard & Poor's Ratings Services withdrew its preliminary 'B'
corporate credit rating on Baltimore, Md.-based Ameritox Ltd., at
the company's request. Ameritox is a provider of specialized
clinical laboratory services.


ARCADIA RESOURCES: Incurs $2.8-Mil. Net Loss in June 30 Quarter
---------------------------------------------------------------
Arcadia Resources, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $2.79 million on $24.76 million of net revenues for
the three months ended June 30, 2011, compared with a net loss of
$4.04 million on $24.40 million of net revenues for the same
period during the prior year.

The Company's balance sheet at June 30, 2011, showed
$25.85 million in total assets, $48.57 million in total
liabilities, and a $22.72 million total stockholders' deficit.

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

                         http://is.gd/GgcZAn

                      About Arcadia HealthCare

Arcadia HealthCare is a service mark of Arcadia Resources, Inc.
(nyse amex:KAD), and is a leading provider of home care, medical
staffing and pharmacy services under its proprietary DailyMed
program. The Company, headquartered in Indianapolis, Indiana, has
65 locations in 18 states.  Arcadia HealthCare's comprehensive
solutions and business strategies support the Company's vision of
"Keeping People at Home and Healthier Longer."


ASARCO LLC: Baker Botts Takes Home $128.5-Mil. in Fees
------------------------------------------------------
Calling the ASARCO LLC bankruptcy a "truly a rags-to-riches
story", Bankruptcy Judge Richard S. Schmidt approved
$117,613,158.44 in fees and $6,046,135.06 in expenses requested by
Baker Botts LLP, the Debtor's lead counsel, for services performed
and expenses incurred in the case.

The $117,131,158.44 fee award is comprised of:

     (1) $113,074,527.74 in fees approved by the Court on an
         interim basis under section 331 of the Bankruptcy Code
         and paid to Baker Botts;

     (2) plus $263,994.74 in additional, unpaid fees incurred by
         Baker Botts for the period of Nov. 1, 2009, through
         Dec. 8, 2009;

     (3) plus $4,161,708.96 as an enhancement on account of,
         according to Judge Schmidt, the "rare and extraordinary
         circumstances" in the case and the firm's services in the
         litigation involving Southern Copper Corporation, which
         "were instrumental in producing the exceptional results
         that were unanticipated at case commencement";

     (4) minus $112,927.00 in fees charged by Baker Botts to the
         estates, for which Baker Botts has agreed voluntarily to
         credit the estates

The $6,046,135.06 expense award is comprised of:

     (1) $6,065,598.58 in expenses approved by the Court on an
         interim basis under section 331 of the Bankruptcy Code
         and paid to Baker Botts;

     (2) minus $19,463.52 in expenses charged by Baker Botts to
         the estates, for which Baker Botts has agreed voluntarily
         to credit the estates.

The Court also allowed $5,000,000 in fees and $457,443.83 in
expenses incurred by Baker Botts in preparing and defending its
Fee Application through July 13, 2010.

Judge Schmidt's July 20, 2011 Memorandum Opinion noted that the
results obtained in the Asarco case are "nothing short of
extraordinary" and that the Asarco bankruptcy case "is probably
the most successful Chapter 11 of any magnitude in the history of
the [Bankruptcy] Code."

Baker Botts' expert, retired bankruptcy lawyer Paul Wickes,
explained that he is "not aware of a case in which the ultimate
result was so much better than what would have been expected at
commencement."  The Court agrees.

Judge Schmidt said Baker Botts performed in an extraordinary
fashion in numerous areas, but perhaps most notably in trying and
obtaining a multi-billion-dollar judgment against ASARCO's parent
company, Americas Mining Corporation, relating to the sale of
ASARCO's controlling ownership interest in Southern Copper
Corporation.  The judgment obtained by Baker Botts against AMC is
likely the largest fraudulent transfer judgment in chapter 11
history.  Creditors ultimately received payment in full of all
claims, plus post-petition interest and allowed attorneys' fees.
Such an extraordinary result would have seemed far fetched at the
outset of these cases, the judge said.

The Court's ruling enumerates Baker Botts' achievements in the
case, and include the firm's significant role in repairing the
severed relationship ASARCO had with its workforce when it
assisted the Company in settling the 2005 strike, negotiating a
new collective bargaining agreement with the unions, and resolving
a number of problems that had arisen in connection with employee
benefit and pension plans.

Grupo Mexico SAB acquired Asarco in a hostile take-over in 1999.
According to a Wall Street Journal recount, Grupo Mexico was sued
on the grounds that the Asarco bankruptcy was part of an elaborate
scheme to strip the Debtor of valuable copper mines in South
America, while shielding Grupo Mexico from environmental clean-up
claims by the U.S. government and 19 Western states.  A judge in
Brownsville, Texas, ruled the maneuver amounted to fraudulent
conveyance and imposed a $6 billion judgment on Grupo Mexico.
Besides ruling against Grupo Mexico on the conveyance of Asarco's
foreign assets, the bankruptcy proceedings also ordered that the
Mexican company establish a $1.79 billion fund for remediation at
80 former Asarco sites across the U.S.

The U.S. Trustee did not object to the final approval and
allowance of either the fees and expenses charged by Baker Botts
to the estates during the Application Period, or the fees and
expenses requested by Baker Botts for the preparation and defense
of the Fee Application.  However, the U.S. Trustee has objected to
the final approval and allowance of the 20% increase requested by
Baker Botts.  The U.S. Trustee contends that if the Court deems
any increase proper, the increase should be limited to 5% of the
amount of fees charged by Baker Botts to the estates during the
Application Period.  No other party has objected to the Fee
Application.

A copy of Judge Schmidt's Memorandum is available at
http://is.gd/4tsFm2from Leagle.com.

                         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.


ASARCO LLC: 5th Cir. Says Reimbursement to Bidders Was Proper
-------------------------------------------------------------
The bankruptcy court authorized ASARCO LLC to reimburse qualified
bidders for expenses incurred in connection with the sale of a
substantial asset of the Debtor's estate.  The bankruptcy court
determined that the reimbursements were proper under the business
judgment standard in section 363(b) of the Bankruptcy Code.
ASARCO's parent companies, Americas Mining Corporation and ASARCO
Incorporated, appealed the order to the district court.  The
district court found no error and affirmed.  Subsequently, the
district court confirmed the Parent's bankruptcy reorganization
plan, pursuant to which the Parent regained control of ASARCO.
The Parent and ASARCO appeal the bankruptcy court's reimbursement
order to the U.S. Court of Appeals for the Fifth Circuit.  In an
Aug. 16, 2011 decision, Circuit Judges Jerry E. Smith and Carl E.
Stewart affirmed, saying ASARCO's reimbursement motion satisfied
the business judgment standard; there was no evidence in the
record of self-dealing or manipulation among the parties who
negotiated the reimbursement procedures; the Reimbursement Order
facilitated, not hindered, the auction process; and the approved
maximum available size of the reimbursement fee was reasonable.
The appellate case is ASARCO, Incorporated; Americas Mining
Corporation; ASARCO, L.L.C., Appellants, v. Elliott Management;
The Baupost Group, Appellees, No. 10-40930 (5th Cir.).  A copy of
the decision, penned by Judge Stewart, is available at
http://is.gd/p0VnqUfrom Leagle.com.

                         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.


AUTOPARTS HOLDINGS: S&P Assigns 'B+' Corporate Credit Rating
------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B+' corporate
credit rating to Danbury, Conn.-based Autoparts Holdings Ltd.  The
rating outlook is stable.

"At the same time, we assigned our 'B+' issue rating and '3'
recovery rating on the proposed senior secured first-lien credit
facility, which includes a five-year $50 million first-lien
revolving credit facility and a six-year $530 million first-lien
term loan B. Subsidiaries Fram Group Holdings Inc., Prestone
Holdings Inc., and Fram Group (Canada) Inc. are co-borrowers under
the revolver. Fram Group Holdings and Prestone Holdings are co-
borrowers under the first- and second-lien term loans," S&P
related.

"We also assigned our 'B-' issue rating and '6' recovery rating to
the 6.5-year $150 million second-lien term loan," S&P said.

"The ratings on APH reflect its fair business risk profile,
characterized by relatively steady revenue growth and double-digit
margins, but also a concentrated customer base," said Standard &
Poor's credit analyst Nancy Messer. They also reflect the
company's highly leveraged financial risk profile with low free
cash flow generation, adjusted debt leverage under 5x, and
ownership by New Zealand private investor Graeme Hart's Rank Group
Ltd.

"We estimate APH's sales will rise about 4%, year over year, to
$1.1 billion in 2011 and again in 2012 because many of its
products are consumables and the amount of miles driven is
recovering. Pro forma for the proposed transaction, we expect
lease- and pension-adjusted total debt to EBITDA to be about 4.5x
in 2011, and a reduction to around 3.6x in 2012 is possible if
cash flow reduces debt. We view APH's free cash flow generation as
low relative to its debt load, but we also view its ability to
generate positive free cash as important to the rating. In the
near term, we expect free cash flow to be suppressed by the cost
of restructuring and capital spending, but by 2013 the company
could be able to convert around 100% of net income to free cash
flow, in our estimates," S&P related.


AUTOS VEGA: Creditor Mulling Cash Use Objection
-----------------------------------------------
Creditor and party-in-interest Emilio Vega, asks the U.S.
Bankruptcy Court for the District of Puerto Rico to extend the
time to file an objection to Autos Vega, Inc.'s request to obtain
credit.

Mr. Vega informs the Court that it will be filing an objection but
he still has to discuss it with all of the stockholders.  Mr. Vega
tells the Court that it is important to gather more information on
the matter to properly assess it and object in detail.

As reported in the Troubled Company Reporter on Aug. 15, 2011,
the Debtor , and secured creditor Reliable Finance Holding Company
asked the Court to approve their joint stipulation authorizing
Debtor's use of Reliable Finance's cash collateral, on an interim
basis, for the period commencing on July 6, 2011, through and
including Jan. 31, 2012.

Mr. Vega is represented by:

        Marena S. Ramirez, Esq.
        WILLIAMESTRELLA, Attorneys & Counselors
        P. O. Box 9023596
        San Juan, PR 00902-3596
        Tel: (787) 977-5050
        Fax: (787) 977-5090
        E-mail: mramirez@welo.net

                        About Autos Vega

Autos Vega, Inc., is a car dealership engaged in the sales of new
and used cars and trucks car parts, accessories and providing
vehicle repair and maintenance, based in San Juan, Puerto Rico.
The Company filed for Chapter 11 bankruptcy protection (Bankr. D.
P.R. Case No. 11-05773) on July 6, 2011.  The case has been
assigned to Judge Sara E. DeJesus Kellogg.  The Debtor estimated
its assets and debts at US$10 million to US$50 million.

Antonio A. Arias-Larcada, Esq., and Yarilyn C. Perez-Colon, Esq.,
at McConnell Valdes LLC, in San Juan, Puerto Rico, serve as
counsel to the Debtor.  Luis R. Carrasquillo Ruiz, CPA, is the
Debtor's accountant.


AVIS BUDGET: DBRS Says 'B' Issue Rating Unaffected by Q2 Results
----------------------------------------------------------------
DBRS Inc. has commented that the ratings of Avis Budget Group,
Inc., including its Issuer Rating of B (high), are unaffected
following the Company's announcement of 2Q11 financial results.
The trend on all ratings is Stable.

DBRS views Avis Budget's results as demonstrating solid underlying
momentum across the franchise with revenues and adjusted EBITDA
improving across all business segments amid good underlying trends
in industry fundamentals.  For the quarter, Avis Budget reported a
pre-tax profit, on a GAAP basis, of $89 million compared to pre-
tax profit of $29 million a year ago.  Revenue generation
continued its recent positive trajectory.  To this end, the
quarter's strong results were driven by a 9% year-on-year increase
in revenues to $1.4 billion.  The growth in revenues reflects
higher transaction volumes across all three business segments as
rental demand continues to recover from recessionary lows
partially offset by a slight decline in pricing.  Importantly,
2Q11 was the fourth consecutive quarter of positive year-on-year
revenue growth, demonstrating that the benefits of the Company's
investment in the brands are being realized.  Furthermore, the
Company's results benefited from lower fleet costs which were
helped by the still healthy used vehicle market.  Fleet costs per
unit were a noteworthy 30% lower year-on-year, benefiting from
strong used vehicle residual values and Avis' continuing shift to
utilizing alternative disposition channels.  During the quarter,
direct operating costs remained contained at 51% of total
revenues.

EBITDA, adjusted to only include interest and depreciation expense
related to the vehicle fleet and exclude restructuring and
transaction related costs, increased 95% year-on-year to $191
million.  Adjusted EBITDA margins grew by 600 basis points, driven
by the lower fleet costs, reduced funding costs and cost
containment actions implemented by management.  DBRS sees the
noteworthy improvement as reflecting the impact of growth
initiatives implemented by management as well as the continuing
strengthening in industry fundamentals.  Indeed, total car rental
days increased 8%, evidencing the strengthening recovery in
commercial and leisure travel along with the strength of the Avis
and Budget brands.  Pricing, or time and mileage revenue per day,
declined 2% in the United States, reflecting competitive pricing
conditions, as the industry was over-fleeted as Avis, similar to
its competitors, held fleet to protect against potential vehicle
supply disruptions stemming from events in Japan.  Moreover, the
slightly lower pricing reflects the faster pace growth in off-
airport and leisure rentals, which tend to have longer duration
and lower pricing when compared to commercial rentals.

The positive trajectory continued by operating segment.  For the
quarter, Domestic Car rental revenue increased 8% year-on-year,
while International Car rental revenue improved 20%.  Importantly,
adjusted EBITDA increased an impressive 177% year-on-year in the
Domestic Car rental segment to $144 million, illustrating the
improving operating environment resulting from an increase in
rental demand.  For the quarter, Truck Rental generated $103
million of revenue, a 3% increase year-on-year on solid 10% growth
in transaction volumes, partially offset by a 5% decline in
pricing reflecting a 40% increase in commercial rentals, which
tend to have longer duration but lower pricing. DBRS notes that
Truck Rental reported adjusted EBITDA of $18 million, a 13% year-
on-year increase and the best second quarter since becoming a
standalone company.  DBRS sees the results of Truck Rental as
indicating that the repositioning and streamlining of the segment
is driving improved results.

Liquidity and funding continues to be solid and well-managed.  At
June 30, 2011, corporate liquidity totaled a sound $2.9 billion.
Moreover, the Company has no corporate debt maturities until 2014.


BARBETTA LLC: Taps Mark O'Neal, Robin Boylan as Property Brokers
----------------------------------------------------------------
Barbetta, LLC, asks the U.S. Bankruptcy Court for the Eastern
District of North Carolina for permission to employ:

         Mark O'Neal
         PICKETT-SPROUSE REAL ESTATE
         3805-A University Drive
         Durham, NC 27707

               and

         Robin Boylan
         NAI BH Commercial
         410 Executive Park
         Ashevilla, NC 28801

As brokers, Messrs. O'Neal and Boylan will assist the Debtor in
the marketing and selling of the Debtor's real properties.
Mr. O'Neal will market and sell the property located in 427 E.
Maple Drive, Burlington, North Carolina, and Mr. Boylan will be
the broker for property located in 5,8, and 12 Barbetta Drive,
Asheville, North Carolina.

The Debtor proposes to pay commissions to Messrs. O'Neal and
Boylan, along with the buyer's agent, 6% commission based upon the
total gross sale price.

To the best of the Debtor's knowledge, Messrs. O'Neal and Boylan
are "disinterested persons" as that term is defined in section
101(14) of the Bankruptcy Code.

                        About Barbetta LLC

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.  The accounting firm of David J. Bradley, CPA, will
perform and supervise the accounting of the Debtor.  Charles E.
Hester, serves as member-manager of the Debtor.

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.


BERNARD L. MADOFF: Feeder Files Adversary Suits to Recoup $18-Mil.
------------------------------------------------------------------
Carolina Bolado at Bankruptcy Law360 reports that Fairfield Sentry
Ltd., once the largest feeder fund to Bernard L. Madoff's
securities firm, launched five adversary suits Wednesday in New
York seeking to recover more than $18 million in shareholder
distributions related to Madoff's Ponzi scheme.

In the suits, Fairfield, which has been ordered to return
$3 billion to the victims of Madoff's fraud, targets investors in
Fairfield Sigma Ltd., an offshore euro currency fund in the
British Virgin Islands that was heavily invested in Fairfield
Sentry, Law360 relates.

                      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.


BLACK RAVEN: Incurs $1 Million Net Loss in Second Quarter
---------------------------------------------------------
Black Raven Energy, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $1.02 million on $123,000 of total operating revenue
and other income for the three months ended June 30, 2011,
compared with a net loss of $1.14 million on $88,000 of total
operating revenue and other income for the same period during the
prior year.

The Company also reported a net loss of $1.96 million on $356,000
of total operating revenue and other income for the six months
ended June 30, 2011, compared with a net loss of $1.24 million on
$230,000 of total operating revenue and other income for the same
period a year ago.

The Company's balance sheet at June 30, 2011, showed
$13.47 million in total assets, $24.05 million in total
liabilities, and a $10.58 million total stockholders' deficit.

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

According to the Company, cash and cash equivalents on hand and
internally generated cash flows may not be sufficient to execute
its business plan.  Future bank financings, asset sales, or other
equity or debt financings will be required to fund the Company's
debt service, working capital requirements, planned drilling,
potential acquisitions and other capital expenditures.  These
conditions raise substantial doubt about the Company's ability to
continue as a going concern.

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

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

                        http://is.gd/OJGHiq

                         About Black Raven

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

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


BONDS.COM GROUP: Expands Into Latin America Through Red Kite Pact
-----------------------------------------------------------------
Bonds.com Group, Inc., entered an agreement with Red Kite Americas
LLC for Red Kite to market the Bonds.com trading system, BondsPro,
into qualified Latin American institutional investors, on an
exclusive basis.  Red Kite will distribute BondsPro primarily in
Brazil, Colombia, and Mexico through its affiliation with
Brazilian based Archers Capital Participatoes e Investimentos S.A.

With this agreement, the Company expects Latin American
institutions will join the global BondsPro trading network.
BondsPro clients will have access to Latin American fixed income
liquidity and trading in the burgeoning Latin America market.
Latin American buy side institutions and banks would conversely
have access to and trade with Bonds.com's global client base.
The BondsPro model significantly reduces the cost of supply
meeting demand in the fixed income markets.  This is achieved by
matching buyers and sellers in an "all-to-all" fair and equal
electronic trading environment.  The net result for clients is
that Bonds.com creates the opportunity to achieve best execution.
Trading is available in U.S. dollar denominated Global Corporate
Credit: Investment Grade, High Yield, and Emerging Markets; and
Mortgage and Asset Backed securities.

Red Kite and its management have an extensive network of client
relationships in Latin America.  Red Kite Americas delivers third
party solutions for trading and liquidity management to a range of
clients.  It builds and integrates customized solutions for banks,
brokers, hedge funds, and money managers  looking to improve
connectivity, liquidity management and efficiency in day-to-day
interactions with Latin and global markets.

George O'Krepkie, president of Bonds.com said: "Efficient delivery
of cross border liquidity and execution is now an imperative
rather than a luxury for professional fixed income traders
worldwide.  With our expansion into Latin America through Red Kite
we have now provided our clients with access to these growing
markets and we have added another piece of the puzzle to building
a truly global network.  We are confident that the Red Kite
relationship will not only benefit our clients and our new Latin
American relationships, but will aid in global capital flow."

Dennis Rodrigues, Managing Member of Red Kite, said: "The BondsPro
trading platform is the most advanced system for bond trading.
Latin American institutions are keen to have efficient access to
global trading.  The ability to provide these markets with access
to all other clients in the network simultaneously means that
Latin American liquidity will both enhance and benefit from
participation."

Red Kite's compensation pursuant to this Marketing Agreement will
be comprised of:

   (a) a flat fee in the amount of $175 for each transaction in
       fixed income instruments executed on the Company's trading
       platform by clients referred to Bonds.com, Inc., by Red
       Kite;

   (b) a warrant to purchase 2,857,143 shares of Bonds.com, common
       stock at an exercise price of $0.07 per share, which will
       be issued to Red Kite immediately; and

   (c) additional warrants to purchase shares of Bonds.com's
       common stock, with the number of shares issuable under and
       exercise price of those warrants determined based on 5% of
       the net revenue in excess of $100,000 the Company generates
       from clients referred to the Company by Red Kite and the
       20-day weighted average price of the Company's common stock
       at the end of each 12-month period under the Marketing
       Agreement.

Pursuant to the Marketing Agreement, effective Aug. 11, 2011,
Bonds.com issued the Initial Warrant to Red Kite.  Additionally,
pursuant to the terms of the Marketing Agreement, Bonds.com may
from time to time issue Additional Warrants to Red Kite.

                       About Bonds.com Group

Based in Boca Raton, Florida, Bonds.com Group, Inc. (OTC BB: BDCG)
-- http://www.bonds.com/-- through its subsidiary Bonds.com,
Inc., serves institutional fixed income investors by providing a
comprehensive zero subscription fee online trading platform.  The
Company designed the BondStation and BondStationPro platforms to
provide liquidity and competitive pricing to the fragmented Over-
The-Counter Fixed Income marketplace.

The Company differentiates itself by offering through Bonds.com,
Inc. an inventory of more than 35,000 fixed income securities from
more than 175 competing sources.  Asset classes currently offered
on BondStation and BondStationPro, the Company's fixed income
trading platforms, include municipal bonds, corporate bonds,
agency bonds, certificates of deposit, emerging market debt,
structured products and U.S. Treasuries.

The Company reported a net loss applicable to common stockholders
of $12.51 million on $2.71 million of revenue for the year ended
Dec. 31, 2010, compared with a net loss applicable to common
stockholders of $4.69 million on $3.90 million of revenue during
the prior year.

As reported by the TCR on May 9, 2011, Daszkal Bolton LLP, in Boca
Raton, Fla., in its audit reports for the years ended Dec. 31,
2009, and Dec. 31, 2010, expressed substantial doubt about the
Company's ability to continue as a going concern.  The auditors
noted that the Company has sustained recurring losses and has
negative cash flows from operations.

"We have a history of operating losses since our inception in
2005, and have a working capital deficit of approximately
$4.4 million and an accumulated deficit of approximately
$28.6 million at Dec. 31, 2010, which together raises doubt about
the Company's ability to continue as a going concern," the Company
acknowledged in the Form 10-K.

The Company's balance sheet at March 31, 2011, showed $6.26
million in total assets, $11.29 million in total liabilities and a
$5.03 million stockholders' deficit.


BONITA BEACH: Case Summary & 16 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Bonita Beach Road Properties, Inc.
        11921 Saradrienne Lane
        Bonita Springs, FL 34135

Bankruptcy Case No.: 11-15472

Chapter 11 Petition Date: August 17, 2011

Court: U.S. Bankruptcy Court
       Middle District of Florida (Ft. Myers)

Debtor's Counsel: Timothy W. Gensmer, Esq.
                  TIMOTHY W. GENSMER, PA
                  2831 Ringling Boulevard, Suite 202-A
                  Sarasota, FL 34237
                  Tel: (941) 952-9377
                  Fax: (941) 954-5605
                  E-mail: timgensmer@aol.com

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

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

A list of the Company's 16 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/flmb11-15472.pdf

The petition was signed by Robert McClain, president.

Affiliate that filed separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Robert B. McClain                     11-07945            04/27/11


BORDERS GROUP: Agree in Default on Six Mortgage Loans
-----------------------------------------------------
Agree Realty Corporation disclosed that directly or indirectly
because of the Chapter 11 bankruptcy filing of Borders Group,
Inc., it is in default on six mortgage loans for properties
leased to Borders, 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 30, 2011.

The Company has six mortgaged properties leased to Borders that
serve as collateral for six non-recourse loans, including four
mortgages that are cross-defaulted and cross-collateralized.

The first defaulted loan had a principal amount outstanding of
approximately $2.3 million as of June 30, 2011, and is secured by
a leasehold interest in the Borders store in Lawrence, Kansas,
with 20,000 square feet of GLA.  Borders vacated the store and
rejected the lease in April 2011 and the leasehold mortgage has
not been paid since April 15, 2011.

The second defaulted loan had a principal amount outstanding of
approximately $5.6 million as of June 30, 2011, and is secured by
the Borders corporate headquarters in Ann Arbor, Michigan, with
330,322 square feet of GLA.  Borders has continued to pay its
monthly rent for the property.

The remaining four defaulted Crossed Loans had an aggregate
principal amount outstanding of approximately $9.2 million as of
June 30, 2011, and are secured by the Borders stores in Oklahoma
City, Oklahoma; Columbia, Maryland; Germantown, Maryland; and one
of the Borders stores in Omaha, Nebraska.  In April 2011, Borders
vacated the Oklahoma City store of 24,641 square feet and
rejected the lease and stopped making rental payments.  While the
Chapter 11 bankruptcy filing of Borders is not a direct event of
default under the four Crossed Loans, as a result of the Oklahoma
City store closure and lease rejection, the Company did not pay
$36,410 in monthly debt service for the loan associated with that
location, which was due in the months of May, June and July 2011.

As a result of the Borders liquidation program, the Company would
not expect to have sufficient cash flow from the properties to
continue to pay any of the debt service on the loan and may elect
not to pay the debt service.

                       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


BRADLEY WARKENTIN: Court Allows Bank's Claim for Attorney's Fees
----------------------------------------------------------------
Bankruptcy Judge Randall L. Dunn allowed One West Bank, FSB's
claim for postpetition attorney's fees and costs against the
estate of Bradley Ray Warkentin.  Judge Dunn overruled the
Debtor's objection to the claim and allowed the full amount of the
amended claim as secured.

On Aug. 8, 2006, Mr. Warkentin executed and delivered a Promissory
Note in favor of American Mortgage Network, Inc., dba American
Mortgage Network of Oregon in the principal amount of $224,000.
Payment of the Note was secured by a deed of trust on certain real
property located in Bend, Oregon.  One West is the successor in
interest to American Mortgage.

In his Schedules A and D filed in Bankruptcy Court, Mr. Warkentin
valued the Property at $90,000.  He included One West as a secured
creditor in Schedule D, with a security interest in the Property
valued at $90,000 and an unsecured claim for $134,000.  On June
14, 2010, Mr. Warkentin filed and served on One West a motion to
value the Property at $90,000.  One West did not file a response
to the Motion, and on July 7, 2010, an order was entered granting
the Valuation Motion.

On Sept. 24, 2010, One West filed a proof of claim, claiming a
secured claim with respect to the Property in the total amount of
$227,824.63, calculated as of the petition date.  On Nov. 16,
2010, Mr. Warkentin filed his initial draft Plan of
Reorganization.  In the Initial Plan, Mr. Warkentin included One
West in two classes: Class 13 to be treated as secured to the
extent of $90,000 and to receive payments of $483.14 a month, at
5% interest amortized over 30 years; and Class 14 to be treated as
unsecured to the extent of $137,825 and to receive 60 equal
payments of $223.00, without interest, in full satisfaction of One
West's unsecured claim.

On Jan. 5, 2011, One West filed an election to have its Claim
treated as fully secured, pursuant to 11 U.S.C. Sec. 1111(b)(2)
and F.R.B.P. Rule 3014.

On Jan. 28, 2011, Mr. Warkentin filed his Second Amended Plan of
Reorganization.  One West was classified in a single class, with
its Claim to bear interest at the rate of 5% per annum and to be
paid in monthly payments of $483.14 for 360 months, with a further
balloon payment of $53,894.23 to be paid in the 361st month.

One West objected to confirmation of the Second Plan, arguing 1)
that it was not feasible; 2) that it was not "fair and equitable"
for purposes of 11 U.S.C. Sec. 1129(b); 3) that it did not provide
for payment of property taxes and insurance with respect to the
Property; and 4) that the proposed 5% interest rate was too low,
among other things.

One West's objection to confirmation of the Second Plan was filed
after the deadline for filing objections to the Second Plan and
the related disclosure statement set in the scheduling order for
the confirmation hearing.

The Confirmation Hearing was held on March 21, 2011. At the
Confirmation Hearing, the Court struck the late filed objection of
One West and confirmed the Second Plan, with modifications as
ordered at the Confirmation Hearing.  An order granting Mr.
Warkentin's motion to strike the late filed objection of One West
was entered on March 29, 2011.

An Order Confirming Plan prepared by counsel for Mr. Warkentin,
was entered on March 31, 2011.  The Court allowed One West's claim
"as a secured claim in the full amount of Proof of Claim No. 10,
i.e. $227,824.63."  In addition, the monthly payment amount to One
West was increased to $554.15, with the balance owing on the claim
to be "paid not later than 361 months after the Effective Date of
the Plan."

On April 22, 2011, One West filed an amended proof of claim,
increasing its secured claim to $228,874.63.  Although the Amended
Claim is only $1,050 greater than the amount of One West's claim
that the Court allowed in the Confirmation Order, One West
represents that the Amended Claim "includes a total of $1,350.00
in post-petition attorney's fees and costs."

On May 9, 2011, Mr. Warkentin objected to the Amended Claim
because it included postpetition attorney's fees.  Mr. Warkentin
argues that it is not appropriate for One West to claim
postpetition attorney's fees because it is undersecured, citing 11
U.S.C. Sec. 506(b). Mr. Warkentin recognizes that One West elected
to have its entire claim treated as secured pursuant to Sec.
1111(b), but he essentially argues that is immaterial because the
value of the Property is less than the claim amount.  Mr.
Warkentin did not object to the attorney's fee claim based on
reasonableness.

One West filed its Response on June 10, 2011, arguing that its
Amended Claim including postpetition attorney fees was
appropriate, primarily relying on the Ninth Circuit's decision in
SNTL Corp. et al. v. Centre Ins. Co. (In re SNTL Corp.), 571 F.3d
826 (2009).

A copy of Judge Dunn's Aug. 16, 2011 Memorandum Opinion is
available at http://is.gd/jIZl6rfrom Leagle.com.

Based in Bend, Oregon, Bradley Ray Warkentin -- aka Brad R.
Warkentin or Bradley R. Warkentin, and dba AAA Building
Maintenance -- filed for Chapter 11 bankruptcy (Bankr. D. Ore.
Case No. 10-35332) on June 7, 2010.  Judge Randall L. Dunn
presides over the case.  Anthony V. Albertazzi, Esq. --
ecfnotices@albertazzilaw.com -- served as the Debtor's bankruptcy
counsel.  According to his schedules, the Debtor said assets total
$1,146,880 while debts total $1,857,146.


BROOKLYN FEDERAL: Reports Net Income of $65,000 in June 30 Quarter
------------------------------------------------------------------
Brooklyn Federal Bancorp, Inc., reported net income of $65,000 for
the three months ended June 30, 2011, compared with a net loss of
$9.97 million for the three months ended June 30, 2010.

Net interest income before provision for loan losses decreased
$2.8 million, or 52.7%, to $2.5 million for the three months ended
June 30, 2011, compared to $5.3 million for the three months ended
June 30, 2010.  Loss before income tax benefit was $333,000 for
the third quarter of fiscal 2011, compared to a loss before income
tax benefit of $17.77 million for the third quarter of fiscal
2010.

The primary reasons for the increase in net income were the
decrease in the provision for loan losses of $11.2 million and a
decrease in other-than-temporary impairment of securities of
$10.3 million, which were partially offset by a decrease in
interest income of $3.2 million, an increase in professional fees
of $585,000 and a reduction in income tax benefit of $7.4 million.

For the nine months ended June 30, 2011, the net loss was
$5.67 million, compared to a net loss of $21.01 million for the
nine months ended June 30, 2010.

Net interest income before provision for loan losses decreased
$7.0 million, or 40.6%, to $10.3 million for the nine months ended
June 30, 2011, from $17.3 million for the nine months ended
June 30, 2010.

The Company's balance sheet at June 30, 2011, showed
$469.93 million in total assets, $429.20 million in total
liabilities, and stockholders' equity of $40.73 million.

                          Going Concern

The Company and Brooklyn Federal Savings Bank are subject to
enforcement actions and other requirements imposed by federal
banking regulators.  The Bank is subject to a Cease and Desist
Order issued by the Office of Thrift Supervision on March 31,
2011, that required, among other things, the Bank to implement an
updated business plan to improve the Bank's core earnings, reduce
expenses, maintain an appropriate level of liquidity and achieve
profitability.

The Bank Order also required that the Bank achieve and maintain a
Tier 1 Capital Ratio equal to or greater than 10% and a Total
Risk-Based Capital Ratio equal to or greater than 15%, after the
funding of its allowance for loan and lease losses, by April 30,
2011.  As of April 30, 2011, the Bank did not meet these capital
requirements.

As the holding companies of the Bank, the Company and BFS Bancorp,
MHC, are subject to a separate but related Cease and Desist Order
issued by the OTS on the same date as the Bank's Order, which
required, among other terms, that the Company and BFS Bancorp,
MHC, ensure the Bank's compliance with the terms of the Bank
Order.

"These factors give rise to substantial doubt as to the Company's
ability to continue as a going concern."

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

Brooklyn Federal Bancorp, Inc., is the holding company for
Brooklyn Federal Savings Bank, a federally chartered savings bank
headquartered in Brooklyn, New York.  The Bank operates five full-
service offices, two located in Brooklyn, one in Nassau and two in
Suffolk County, New York.


BROOKLYN FEDERAL: Announces Merger With Investors Bancorp
---------------------------------------------------------
Investors Bancorp, Inc. (NASDAQ: ISBC) and Brooklyn Federal
Bancorp, Inc. (NASDAQ: BFSB) announced Wednesday the signing of a
definitive merger agreement under which Investors Bancorp, Inc.,
will acquire Brooklyn Federal Bancorp, Inc., for $0.80 per share
or approximately $10.3 million in the aggregate.  In addition,
Investors Bancorp, Inc., entered into a separate agreement with a
real estate investment fund to sell most of Brooklyn Federal
Bancorp, Inc.'s commercial real estate loan portfolio immediately
following the completion of the merger transactions.

The terms of the merger agreement specify that Brooklyn Federal
Bancorp, Inc., BFS Bancorp, MHC, and Brooklyn Federal Savings
Bank, will merge with and into Investors Bancorp, Inc., Investors
Bancorp, MHC and Investors Savings Bank, respectively.  After the
mergers, Brooklyn Federal Bancorp, Inc.'s shareholders, other than
BFS Bancorp, MHC, will receive $0.80 in cash for each common share
they held before the mergers resulting in a total cash payment of
$2.9 million.

Shares of such stock held by BFS Bancorp, MHC, will be converted
into common shares of Investors Bancorp, Inc.  Depositors of
Brooklyn Federal Savings Bank will become depositors of Investors
Savings Bank, and will have the same rights and privileges in
Investors Savings Bank, as if their accounts had been established
in Investors Savings Bank on the date established at Brooklyn
Federal Savings Bank.

The mergers have been approved by the boards of directors of each
company and are expected to close in the fourth quarter of 2011,
subject to customary closing conditions including regulatory
approvals and approval by Brooklyn Federal Bancorp, Inc.'s
shareholders and Brooklyn Bancorp, MHC's members, as may be
necessary under applicable regulatory guidance.  Neither Investors
Bancorp, Inc.'s shareholders, nor Investors Bancorp, MHC's
depositors are required to approve the mergers.

"We are pleased to announce the acquisition of Brooklyn Federal
whose branch network will further enhance our expansion into New
York," said Kevin Cummings, President and CEO of Investors
Bancorp, Inc.  "We are committed to providing Brooklyn Federal's
customers with the same high level of service to which they have
become accustomed."  Gregg Wagner, President and CEO of Brooklyn
Federal Bancorp, Inc., commented, "The merger with Investors will
allow us to maintain, expand and enhance services and products for
our customers.  In addition, the expanded branch network will
benefit the customers of both institutions."

RBC Capital Markets, LLC acted as financial advisor to Investors
Bancorp, Inc., and Luse Gorman Pomerenk & Schick, P.C., acted as
its legal advisor. Sandler O'Neill + Partners, L.P. acted as
financial advisor to Brooklyn Federal Bancorp, Inc., and Paul
Hastings LLP acted as its legal advisor.

                     About Investors Bancorp

Investors Bancorp, Inc. is the holding company for Investors
Savings Bank, which operates from its corporate headquarters in
Short Hills, New Jersey, and as of June 30, 2011, had 80 branch
offices located throughout New Jersey and New York.

                  About Brooklyn Federal Bancorp

Brooklyn Federal Bancorp, Inc., is the holding company for
Brooklyn Federal Savings Bank, a federally chartered savings bank
headquartered in Brooklyn, New York.  The Bank operates five full-
service offices, two located in Brooklyn, one in Nassau and two in
Suffolk County, New York.


BUCKTOWN STATION: Court Gives Liquidation Plan a Chance
-------------------------------------------------------
Bankruptcy Judge Jack B. Schmetterer tossed a request by PNC Bank
National Association to modify the automatic stay so it may
proceed with a foreclosure action on Bucktown Station LLC's
condominium building.  Although the Debtor lacks equity in its
property, the judge said the Debtor has proposed a plan showing a
reasonable possibility of a successful reorganization if the
market improves and prospective customers come back into the home
market over three years.  However, Judge Schmetterer conditioned
the denial of the bank's request on the Debtor proposing a Plan
that provides for case dismissal should specified benchmarks on
tunes and amounts of sales at reasonable intervals not be met.

The Debtor's proposed Plan provides for a staged sell off of the
condominiums over a three-year period.  The Debtor assumes that it
will sell the residential condominiums for an average of $475,000
each and the retail condominium at the very end of the Plan period
for $825,000.  Under that Plan, the net sale proceeds will be used
to repay creditors.  Secured creditors and unsecured creditors
with claims under $4,000 are each to receive 100% of their allowed
claims, while unsecured creditors with claims over $4,000 are each
to receive 3% of their allowed claims.  The Debtor intends to
challenge the amounts claimed by some mechanics lien creditors, so
only their claims as expected to be allowed after that process are
included in the Debtor's projections.

The Debtor and PNC have stipulated that the claims secured by the
Property total $5,771,902.24.  However, the present value of the
Property is only in a range between $4,030,000 and $4,690,000.

Should the Debtor's Plan succeed and the proposed sales take
place, the Debtor will have generated $7,408,225.49 in revenue.
The Debtor projects that this will be enough to repay its
creditors according to the Plan, to pay necessary expenses, and to
maintain the Property throughout the Plan period.

A copy of Judge Schmetterer's Aug. 18, 2011 Findings of Fact and
Conclusions of Law is available at http://is.gd/cZuhAbfrom
Leagle.com.

                      About Bucktown Station

Bucktown Station is a triangle-shaped development at Western and
Winnebago avenues has 15 two-and-three bedroom units, 21 indoor
parking spaces and 3,000-square-feet of retail space.

Bucktown Station, LLC, filed for Chapter 11 protection (Bankr.
N.D. Ill. Case No. 11-02004) in Chicago on Jan. 19, 2011.  Karen
J. Porter, Esq., at Porter Law Firm, in Chicago, represents the
Debtor.  The Debtor estimated assets of $1 million to $10 million
and debts of up to $50,000 in its Chapter 11 petition.  The
petition was signed by Bruce A. Fogelson, managing member.


BURT REYNOLDS: Faces Foreclosure on Florida Mansion
---------------------------------------------------
Lalate News reports that actor Burt Reynolds hasn't made mortgage
payments to Merrill Lynch Credit Corp. on his massive mansion in
Hobe Sound, Florida, since September of last year.  And now the
mansion is facing foreclosure.

The report relates that the estate's appraised value by the local
tax assessors' office is $2.4 million.  Mr. Reynolds attempted to
sell the mansion in 2009 for $8.9 million.  He reportedly had no
offers near his listing price.

According to the report, Mr. Reynolds bought the mansion during
his marriage to Loni Anderson is facing foreclosure.  Loni
Anderson and Burt Reynolds moved into the house in the 1990s.  Two
years later, Reynolds suffered a Chapter 11 bankruptcy.  Reynolds
was able to rebound and keep the house.  But now, Reynolds' lender
claims he hasn't made mortgage payments since 2010.  So it has
filed to foreclose against the mansion Reynolds calls "paradise".


CABIN HOLLOW: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Cabin Hollow Enterprises, LLC
        275 Thunder Gust Mill Road
        Wellsville, PA 17365

Bankruptcy Case No.: 11-05675

Chapter 11 Petition Date: August 15, 2011

Court: United States Bankruptcy Court
       Middle District of Pennsylvania (Harrisburg)

Judge: Robert N. Opel II

Debtor's Counsel: Lawrence G. Frank, Esq.
                  THOMAS, LONG, NIESEN AND KENNARD
                  212 Locust Street, Suite 500
                  Harrisburg, PA 17101
                  Tel: (717) 234-7455
                  Fax: (717) 236-8278
                  E-mail: lawrencefrank@earthlink.net

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

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

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

The petition was signed by Sara E. Mummert, member.


CALPIAN INC: Posts $758,900 Net Loss in Q2 Ended June 30
--------------------------------------------------------
Calpian, Inc., filed its quarterly report on Form 10-Q, reporting
a net loss of $758,882 on $430,143 of revenues for the three
months ended June 30, 2011, compared with a net loss of $297,602
on $nil revenue for the same period last year.

The Company reported a net loss of $1.3 million on $855,919 of
revenues for the six months ended June 30, 2011, compared with a
net loss of $314,023 on $0 revenue for the same period last year.

The Company's balance sheet at June 30, 2011, showed $5.3 million
in total assets, $2.1 million in total liabilities, and
stockholders' equity of $3.2 million.

Whitley Penn LLP, in Dallas, Texas, expressed substantial doubt
about Calpian's ability to continue as a going concern, following
the Company's 2010 results.  The independent auditors noted that
the Company has incurred net operating losses since inception
and management does not believe that available cash resources,
anticipated revenues from operations, and current funding
commitments will be sufficient to satisfy the Company's near term
capital requirements.

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

Based in Dallas, Texas, Calpian, Inc., is in the business of
acquiring recurring monthly residual income streams derived from
credit card processing fees paid by retail stores in the United
States.


CALPINE CORP: Releases Remaining Stock, Resolves All Claims
-----------------------------------------------------------
Calpine Corporation, which emerged from bankruptcy in January
2008, said it has authorized the release of approximately
19.8 million shares of Calpine common stock from reserves that had
previously been set aside to satisfy bankruptcy claims that were
not resolved at the date of emergence.  This release represents
the full and final distribution of shares from the reserve
account, completing the implementation of the Company's confirmed
Plan of Reorganization.

"With this distribution, we will have fully resolved all claims
associated with our bankruptcy," said Zamir Rauf, Calpine's Chief
Financial Officer.  "We are pleased to bring closure to this
issue, now focusing the investing community's attention on the
positive outlook we have for Calpine's future instead of technical
matters from the past."

Shares held in the reserve were included in the Company's 486
million weighted average shares outstanding as of June 30, 2011,
and distribution of these shares does not represent the issuance
of new or additional equity.  The release of reserve shares will
have no impact on the Company's earnings or cash flow.

The timing of when shares will actually be made available to
claimants is dependent upon processes to be performed by the
Company's transfer agent, which are expected to be complete on or
before August 24, 2011.  Furthermore, certain of the reserve share
distributions will be made to indenture trustees (as the holders
of Allowed Claims under the Plan of Reorganization) on behalf of
their ultimate owners.  uch owners should contact their respective
trustee with any questions regarding the receipt of their shares,
including those concerning timing and the amount of their ultimate
distribution.

                          About Calpine

Headquartered in Houston, Texas, Calpine Corp. is a major U.S.
independent power company that owns 93 operating power plants with
an aggregate generation capacity of nearly 29,000.  For the 12
months ending June 30, 2010, Calpine had operating revenues of
$6.4 billion.

The Company and its affiliates filed for Chapter 11 protection
(Bankr. S.D.N.Y. Lead Case No. 05-60200) on Dec. 20, 2005.
Richard M. Cieri, Esq., Matthew A. Cantor, Esq., Edward Sassower,
Esq., and Robert G. Burns, Esq., Kirkland & Ellis LLP, represented
the Debtors in their restructuring efforts.  Michael S. Stamer,
Esq., at Akin Gump Strauss Hauer & Feld LLP, represented the
Official Committee of Unsecured Creditors.  As of Aug. 31, 2007,
the Debtors had total assets of $18.467 billion, total liabilities
not subject to compromise of $11.207 billion, total liabilities
subject to compromise of $15.354 billion and stockholders' deficit
of $8.102 billion.

On Feb. 3, 2006, two more affiliates, Geysers Power Company, LLC,
and Silverado Geothermal Resources, Inc., filed voluntary Chapter
11 petitions (Bankr. S.D.N.Y. Case Nos. 06-10197 and 06-10198).
On September 20, 2007, Santa Rosa Energy Center, LLC, another
affiliate, also filed a voluntary Chapter 11 petition (Bankr.
S.D.N.Y. Case No. 07-12967).

On June 20, 2007, the Debtors filed their Chapter 11 Plan and
Disclosure Statement.  On Aug. 27, 2007, the Debtors filed their
Amended Plan and Disclosure Statement.  Calpine filed a Second
Amended Plan on Sept. 19, 2007 and on Sept. 24, 2007, filed a
Third Amended Plan.  On Sept. 25, 2007, the Court approved the
adequacy of the Debtors' Disclosure Statement and entered a
written order on Sept. 26.  On Dec. 19, 2007, the Court confirmed
the Debtors' Plan.  The Amended Plan was deemed effective as of
Jan. 31, 2008.


CAPMARK FINANCIAL: Files Third Amended Joint Reorganization Plan
----------------------------------------------------------------
BankruptcyData.com reports that Capmark Financial Group filed with
the U.S. Bankruptcy Court a Third Amended Joint Plan of
Reorganization.  The Plan consists of fourteen separate Chapter 11
Plans: one Plan for each of the proponent Debtors that will emerge
as a reorganized entity.

The Court approved the Debtors' related Disclosure Statement on
July 8, 2011 and an August 19, 2011 confirmation hearing was
scheduled.

                      About Capmark Financial

Based in Horsham, Pennsylvania, Capmark Financial Group Inc. --
http://www.capmark.com/-- provides financial services to
investors in commercial real estate-related assets.  Capmark has
three core businesses: lending and mortgage banking, investments
and funds management, and servicing.  Capmark operates in North
America, Europe and Asia.  Capmark has 1,000 employees located in
37 offices worldwide.

On Oct. 25, 2009, Capmark Financial and certain of its
subsidiaries filed voluntary petitions for relief under Chapter 11
(Bankr. D. Del. Lead Case No. 09-13684).  Capmark disclosed assets
of US$20 billion against total debts of US$21 billion as of
June 30, 2009.

Capmark's financial advisors are Lazard Freres & Co. LLC and
Loughlin Meghji + Company.  Capmark's bankruptcy counsel is Dewey
& LeBoeuf LLP.  Richards, Layton & Finger, P.A., serves as local
counsel.  Beekman Advisors, Inc., is serving as strategic advisor.
KPMG LLP is tax and accounting advisor.  Epiq Bankruptcy
Solutions, LLC, is the claims and notice agent.

The Official Committee of Unsecured Creditors in Capmark Financial
Group Inc.'s cases tapped Kramer Levin Naftalis & Frankel LLP as
its counsel and JR Myriad LLC as its commercial real estate
business advisors.  The Committee also retained Cutler Pickering
Hale and Dorr LLP as its attorneys for the special purpose of
providing legal services in connection with Federal Deposit
Insurance Corporation matters.

Protech Holdings C LLC, an affiliate of Capmark, filed for
Chapter 11 protection on July 29, 2010 (Bankr. D. Del. Case No.
10-12387).  The Debtor estimated assets and debts in excess of
$1 billion as of the filing date.

Since filing for Chapter 11, Capmark completed three sales to
generate more than $1 billion in cash.  Berkshire Hathaway Inc.
and Leucadia National Corp. bought most of the business for
$468 million.

In April 2011, Greenline Ventures LLC completed the acquisition of
the New Markets Tax Credit division of Capmark Financial Group
Inc.  Since inception of the NMTC program, Capmark's NMTC division
has closed over $1.1 billion of NMTC investment funds and financed
over $2.5 billion of projects and businesses in low income
communities nationwide.


CASCO HOTEL: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: CASCO Hotel Group, LLC
        2701 Tower Oaks Boulevard, Suite 200
        Rockville, MD 20852

Bankruptcy Case No.: 11-26880

Chapter 11 Petition Date: August 17, 2011

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

Judge: Paul Mannes

Debtor's Counsel: Lawrence P. Block, Esq.
                  STINSON MORRISON HECKER
                  1150 18th Street, NW, Suite 800
                  Washington, DC 20036
                  Tel: (202) 785-9100
                  E-mail: lblock@stinson.com

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

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

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

The petition was signed by Craig S. Cohen, member.

Affiliate that filed separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Congressional Hotel Corporation       11-26732            08/15/11


CHINA RUITAI: Reports $1.4 Million Second Quarter Net Income
------------------------------------------------------------
China Ruitai International Holdings Co., Ltd., filed with the U.S.
Securities and Exchange Commission its quarterly report on Form
10-Q, reporting net income of $1.37 million on $11.72 million of
sales for the three months ended June 30, 2011, compared with net
income of $1.41 million on $11.17 million of sales for the same
period a year ago.

The Company also reported net income of $2.10 million on
$21.31 million of sales for the six months ended June 30, 2011,
compared with net income of $3.35 million on $21.41 million of
sales for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed
$129.61 million in total assets, $96.87 million in total
liabilities, and $32.74 million in total equity.

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

                        http://is.gd/EOFoGI

                        About China Ruitai

Shandong, China-based China Ruitai International Holdings Co.,
Ltd., was organized under the laws of the State of Delaware on
Nov. 15, 1955, under the name "Inland Mineral Resources Corp."
Currently, the Company, through its wholly-owned subsidiary,
Pacific Capital Group Co., Ltd., a corporation incorporated under
the laws of the Republic of Vanuatu, and its majority-owned
subsidiary, TaiAn RuiTai Cellulose Co., Ltd., a Chinese limited
liability company, is engaged in the production, sales, and
exportation of deeply processed chemicals, with a primary focus on
non-ionic cellulose ether products in the People's Republic of
China as well as to the United States, Europe, Japan, India and
South Korea.

As reported by the TCR on April 8, 2011, Bernstein & Pinchuk LLP,
in New York, after auditing the Company's financial statements for
the year ended Dec. 31, 2010, expressed substantial doubt about
China Ruitai's ability to continue as a going concern.  The
independent auditors noted that the Company has negative working
capital.


CICERO INC: Incurs $540,000 Net Loss in Second Quarter
------------------------------------------------------
Cicero Inc. filed with the U.S. Securities and Exchange Commission
its quarterly report on Form 10-Q, reporting a net loss of
$540,000 on $1.09 million of total operating revenue for the three
months ended June 30, 2011, compared with a net loss of $423,000
on $1.30 million of total operating revenue for the same period
during the prior year.

The Company also reported a net loss of $975,000 on $1.82 million
of total operating revenue for the six months ended June 30, 2011,
compared with a net loss of $1.51 million on $1.78 million of
total operating revenue for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $4.74 million
in total assets, $12.37 million in total liabilities and a $7.63
million in total stockholders' deficit.

The Company reported a net loss of $459,000 on $2.97 million of
total operating revenue for the year ended Dec. 31, 2010, compared
with a net loss of $1.28 million on $2.49 million of total
operating revenue during the prior year.

As reported by the TCR on April 6, 2011, Marcum LLP, in Bala
Cynwyd, Pennsylvania, noted that the Company's recurring losses
from operations and working capital deficiency raise substantial
doubt about its ability to continue as a going concern.

The Company has extended the maturity dates of several debt
obligations that were due in 2011 to 2012, to assist with
liquidity and may attempt to extend these maturities again if
necessary.  Despite the recent additions of several new clients,
the Company continues to struggle to gain additional sources of
liquidity on terms that are acceptable to the Company.

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

                        http://is.gd/42KEdU

                         About Cicero Inc.

Cary, N.C.-based Cicero, Inc., provides business integration
software solutions and also provides technical support, training
and consulting services as part of its commitment to providing
customers with industry-leading solutions.

The Company focuses on the customer experience management market
with emphasis on desktop integration and business process
automation with its Cicero XM(TM) products.  Cicero XM enables the
flow of data between different applications, regardless of the
type and source of the application, eliminating redundant entry
and costly mistakes.


CIRTRAN CORP: Delays Filing of 2nd Quarter Form 10-Q
----------------------------------------------------
CirTran Corporation's quarterly report on Form 10-Q for the
quarter ended June 30, 2011, could not be filed without
unreasonable effort or expense within the prescribed time period
because management requires additional time to compile and verify
the data required to be included in the report.  According to the
Company, the report will be filed within five days of the date the
original report was due.

                      About CirTran Corporation

West Valley City, Utah-based CirTran Corporation (OTC BB: CIRC)
-- http://www.CirTran.com/-- markets and manufactures energy
drinks under the Playboy brand pursuant to a license agreement
with Playboy Enterprises, Inc.  The Company also provides turnkey
manufacturing services and products using various high-tech
applications for electronics manufacturers in various industries.

The Company reported a net loss of $4.95 million on $9.04 million
of net sales for the year ended Dec. 31, 2010, compared with a net
loss of $5.81 million on $9.73 million of net sales during the
prior year.

The Company's balance sheet at March 31, 2011, showed
$4.40 million in total assets, $32.12 million in total
liabilities, and a $27.72 million total stockholders' deficit.

As reported by the TCR on April 21, 2011, Hansen, Barnett &
Maxwell, P.C., Salt Lake City, Utah, noted that the Company has an
accumulated deficit, has suffered losses from operations and has
negative working capital that raise substantial doubt about its
ability to continue as a going concern.


CNS RESPONSE: Reports $873,000 Net Profit in June 30 Quarter
------------------------------------------------------------
CNS Response, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q reporting net profit
of $873,400 on $197,800 of revenue for the three months ended
June 30, 2011, compared with a net loss of $1.50 million on
$159,200 of revenue for the same period during the prior year.

The Company also reported a net loss of $6.17 million on $537,400
of revenue for the nine months ended June 30, 2011, compared with
a net loss of $4.75 million on $481,000 of revenue for the same
period a year ago.

The Company's balance sheet at June 30, 2011, showed $1.36 million
in total assets, $10.46 million in total liabilities and a $9.10
million total stockholders' deficit.

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

                        http://is.gd/Qbyu3O

                        About CNS Response

Aliso Viejo, Calif.-based CNS Response, Inc., is a cloud-based
neurometric company focused on analysis, research, development and
the commercialization of a patented platform which allows
psychiatrists and other physicians to exchange outcome data
referenced to electrophysiology.  With this information,
physicians can make more informed decisions when treating
individual patients with behavioral (psychiatric and/or addictive)
disorders.  The Company's secondary Clinical Services business,
operated by its wholly-owned subsidiary, Neuro-Therapy Clinic
("NTC"), is a full service psychiatric clinic.

Cacciamatta Accountancy Corporation, in Irvine, California,
expressed substantial doubt about CNS Response's ability to
continue as a going concern, following the Company's results for
the fiscal year ended Sept. 30, 2010.  The independent auditors
noted that of the Company's continued operating losses and limited
capital.


COMMONWEALTH BANKSHARES: Incurs $26.2 Million Net Loss in Q2
------------------------------------------------------------
Commonwealth Bankshares, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $26.21 million on $11.54 million of total interest and
dividend income for the three months ended June 30, 2011, compared
with a net loss of $2.51 million on $14.99 million of total
interest and dividend income for the same period a year ago.

The Company also reported a net loss of $32.96 million on
$23.69 million of total interest and dividend income for the six
months ended June 30, 2011, compared with a net loss of
$3.43 million on $29.93 million of total interest and dividend
income for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed
$985.87 million in total assets, $990.17 million in total
liabilities, and a $4.30 million total deficit.

"We have completely restructured our credit risk management
process," said President and CEO Chris Beisel.  "Nearly all of our
efforts during the past 13 months have been on managing our
problem loans and rebuilding a new credit environment.  Our focus
has been on little else.  If our efforts to raise capital are
successful, then we will have most of the credit issues behind us
and we'll be positioned for the future."

As reported by the TCR on May 31, 2011, Witt Mares, PLC, in
Norfolk, Virginia, expressed substantial doubt about Commonwealth
Bankshares' ability to continue as a going concern, following the
Company's 2010 results.  The independent auditors noted that of
the Company's continued operating losses and deterioration of the
loan portfolio, undercapitalized status, liquidity restrictions,
and other restrictions as a result of regulatory agreements.

Effective July 1, 2011, Bank of the Commonwealth entered into a
Prompt Corrective Action Directive with the Board of Governors of
the Federal Reserve System.  The Directive requires that within 30
days of the effective date of the Directive or such additional
time as the Board of Governors may permit, the Bank, in
conjunction with the Company must, among other things, increase
the Bank's equity through the sale of shares or contributions to
surplus in an amount sufficient to make the Bank adequately
capitalized.

The Bank was not able to meet the 30-day timeline prescribed by
the Directive for reaching the required capital levels.  The Board
of Governors, as outlined in the Directive, may permit additional
time as they see fit.  The Company and the Bank's management and
Board of Directors have implemented a capital plan with various
alternatives to reach and maintain the required capital levels.
This plan was originally accepted by the Federal Reserve in 2010
in response to the Written Agreement.  An updated capital
restoration plan was submitted to the Federal Reserve in June
2011, due to the Company's immediate capital needs.  This plan was
not accepted by the Federal Reserve since the Company had not
received any firm commitments for new capital.  If the Company
does not raise sufficient amounts of new equity capital, or
alternatively, execute another strategic initiative, the Company
may become subject to a voluntary or involuntary bankruptcy filing
and the Company believes it is possible that the Bank could be
placed into FDIC receivership by bank regulators or acquired by a
third party in a transaction in which the Company receives no
value for its interest in the Bank.

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

                        http://is.gd/othPbL

                   About Commonwealth Bankshares

Norfolk, Va.-based Commonwealth Bankshares, Inc., (Nasdaq:CWBS)
-- http://www.bankofthecommonwealth.com/-- is the parent of Bank
of the Commonwealth which opened its first office in Norfolk,
Virginia, in 1971.  Bank of the Commonwealth has 21 bank branches
strategically located throughout the Hampton Roads and Eastern
North Carolina regions.


COMMUNITY SHORES: Files Form 10-Q, Reports $522,000 Q2 Net Loss
---------------------------------------------------------------
Community Shores Bank Corporation filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q
reporting a net loss of $522,319 on $2.75 million of total
interest and dividend income for the three months ended June 30,
2011, compared with a net loss of $1.19 million on $3.07 million
of total interest income for the same period during the prior
year.

The Company also reported a net loss of $1.25 million on
$5.55 million of total interest income for the six months ended
June 30, 2011, compared with a net loss of $1.63 million on
$6.10 million of total interest income for the same period during
the prior year.

The Company's balance sheet at June 30, 2011, showed
$223.78 million in total assets, $223.96 million in total
liabilities, and a $185,815 total shareholders' deficit.

As reported by the TCR on April 6, 2011, Crowe Horwath LLP, in
Grand Rapids, Michigan, expressed substantial doubt about the
Company's ability to continue as a going concern.  The independent
auditors noted that the Company has incurred significant recurring
operating losses, is in default of its note payable collateralized
by the stock of its wholly-owned bank subsidiary, and the
subsidiary bank is undercapitalized and is not in compliance with
revised minimum regulatory capital requirements under a formal
regulatory agreement which has imposed limitations on certain
operations.

The Company reported a net loss of $8.88 million on $6.95 million
of net interest income for 2010, compared with a net loss of
$4.96 million on $6.79 million of net interest income for 2009.

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

                        http://is.gd/O1xe2d

                      About Community Shores

Muskegon, Mich.-based Community Shores Bank Corporation, organized
in 1998, is a Michigan corporation and a bank holding company.
The Company owns all of the common stock of Community Shores Bank.
The Bank was organized and commenced operations in January 1999 as
a Michigan chartered bank with depository accounts insured by the
FDIC to the extent permitted by law.  The Bank provides a full
range of commercial and consumer banking services primarily in the
communities of Muskegon County and Northern Ottawa County.


CONQUEST PETROLEUM: Incurs $1.7 Million Second Quarter Net Loss
---------------------------------------------------------------
Conquest Petroleum Incorporated filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $1.72 million on $301,402 of total revenues for the
three months ended June 30, 2011, compared with a net loss of
$8.13 million on $323,816 of total revenues for the same period
during the prior year.

The Company also reported a net loss of $3.42 million on $591,269
of total revenues for the six months ended June 30, 2011, compared
with a net loss of $10.47 million on $650,697 of total revenues
for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $2 million in
total assets, $31.24 million in total liabilities, and a
$29.24 million total stockholders' deficit.

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

                        http://is.gd/DVkucv

                     About Conquest Petroleum

Spring, Tex.-based Conquest Petroleum Incorporated (OTC BB: CQPT)
-- http://www.conquestpetroleum.com/-- is an independent oil and
natural gas company engaged in the production, acquisition and
exploitation of oil and natural gas properties geographically
focused on the onshore United States.  The Company's operational
focus is the acquisition, through the most cost effective means
possible, of production or near production of oil and natural gas
field assets.  The Company's areas of operation include Louisiana
and Kentucky.

The Company reported a net loss of $14.49 million on $1.24 million
of total revenues for the year ended Dec. 31, 2010, compared with
a net loss of $23.26 million on $914,781 of total revenues during
the prior year.

As reported by the TCR on April 21, 2011, M&K CPAS, PLLC, in
Houston, Texas, noted that Conquest Petroleum has insufficient
working capital and reoccurring losses from operations, all of
which raises substantial doubt about its ability to continue as a
going concern.


CONSOL ENERGY: Moody's Reviews 'Ba3' Corporate for Upgrade
----------------------------------------------------------
Moody's Investors Service placed CONSOL Energy Inc.'s Ba3
corporate family and probability of default ratings as well as all
of the company's instrument ratings under review for possible
upgrade. The review is prompted by CONSOL's announcement that it
has entered into an agreement with Noble Energy, Inc. (Noble;
Baa2, stable) for the joint development of CONSOL's 663,350
Marcellus Shale acres in Pennsylvania and West Virginia, with each
party taking a 50% interest. The transaction is expected to close
on September 30, 2011.

The review results from Moody's expectation that the agreement
provides strategic benefit to CONSOL in that it incorporates
significant cash payments over the next several years, allows for
the acceleration of drilling activity and producing wells, and
reduces CONSOL's otherwise substantive capital expenditure
requirements to develop the Marcellus Shale acreage.

The review will mainly focus on CONSOL's expected use of the
proceeds from the transaction, final terms and structure of the
joint venture including corporate governance, structure of the
Board and the parties' respective rights and obligations, changes
in CONSOL's total projected capital expenditures related to its
gas division, and the expected production profile of the joint
venture. In particular, while the management reaffirmed its 2015
gas production goal of 350 billion cubic feet despite the 50%
reduction in its Marcellus ownership share, the review will
address the changes in the production volume and cost dynamics in
the interim years. Moody's also notes that the closing of the
transaction is subject to consent from holders of CONSOL's
outstanding senior notes, clarifying that the contemplated
transaction is permitted under the indentures.

On Review for Possible Upgrade:

   Issuer: CONSOL Energy Inc.

   -- Probability of Default Rating, Placed on Review for Possible
      Upgrade, currently Ba3

   -- Corporate Family Rating, Placed on Review for Possible
      Upgrade, currently Ba3

   -- Senior Unsecured Regular Bond/Debenture, Placed on Review
      for Possible Upgrade, currently B1

Outlook Actions:

   Issuer: CONSOL Energy Inc.

   -- Outlook, Changed To Rating Under Review From Stable

The principal methodology used in rating CONSOL was the Global
Mining Industry Methodology published in May 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 (and/or) the Government-Related Issuers
methodology published in July 2010.

CONSOL is a leading diversified fuel producer in the Eastern U.S.
It has 4.4 billion tons of coal reserves and 3.7 trillion cubic
feet of proven gas reserves. The company generated $5.6 billion in
revenues for the twelve months through June 30, 2011.


CONTESSA PREMIUM: Debtor Changes Name to Contessa Liquidating
-------------------------------------------------------------
Contessa Premium Foods, Inc., a California corporation, sought and
obtained authority from the U.S. Bankruptcy Court for the Central
District of California to change its name and to revise the case
caption to reflect its new name "Contessa Liquidating Co., Inc."

The Court-approved sale of substantially all of the Debtor's
operating assets to Premium Foods Acquisition, Inc., which has
been renamed Contessa Premium Foods, Inc., a Delaware corporation,
for approximately $51,000,000 in cash and assumed liabilities
closed on Jul. 15, 2011.

The Asset Purchase Agreement requires the Debtor to change its
corporate and company name to a name that is not similar to or
confusing with its current name.  Accordingly, on Jul. 18, 2011,
the Debtor filed with the California Secretary of State a
certificate of amendment to its articles of incorporation changing
its name to Contessa Liquidating Co., Inc.

                     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.

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.


COVINA PALMS: Case Summary & 15 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Covina Palms Center, LLC
        2404 Wilshire Blvd., Suite 12A
        Los Angeles, CA 90015

Bankruptcy Case No.: 11-44683

Chapter 11 Petition Date: August 15, 2011

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

Judge: Ernest M. Robles

Debtor's Counsel: Stephen F. Biegenzahn, Esq.
                  THE LAW OFFICE OF STEPHEN BIEGENZAHN
                  611 W 6th St Ste 850
                  Los Angeles, CA 90017
                  Tel: (213) 617-0017
                  Fax: (480) 247-5977
                  E-mail: efile@sfblaw.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 15 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/cacb11-44683.pdf

The petition was signed by Michael Kamen, managing member.


CREATIVE VISTAS: Incurs $76,000 Net Loss in Second Quarter
----------------------------------------------------------
Creative Vistas, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, reporting a net loss
of $76,148 on $9.93 million of contract and service revenue for
the three months ended June 30, 2011, compared with a net loss of
$647,156 on $10.31 million of contract and service revenue for the
same period a year ago.

The Company also reported a net loss of $6,336 on $18.95 million
of contract and service revenue for the six months ended June 30,
2011, compared with a net loss of $1.06 million on $19.54 million
of contract and service revenue for the same period during the
prior year.

The Company's balance sheet at June 30, 2011, showed $10.87
million in total assets, $25.61 million in total liabilities and a
$14.74 million total shareholders' deficiency.

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

                       http://is.gd/XkJYVb

                      About Creative Vistas

Headquartered in Whitby, Ontario, Canada, Creative Vistas, Inc.,
provides security-related technologies and systems.  The Company
also provides the deployment of broadband services to the
commercial and residential market.  The Company primarily operates
through its subsidiaries AC Technical Systems Ltd. and Iview
Digital Video Solutions Inc., to provide integrated electronic
security-related technologies and systems.

As reported by the TCR on April 8, 2011, Kingery & Crouse PA, in
Tampa, Florida, expressed substantial doubt about Creative Vistas'
ability to continue as a going concern.  The independent auditors
noted that the Company has suffered recurring losses from
operations and has working capital and stockholder deficiencies.

The Company reported a net loss of $681,807 on $39.87 million of
revenues for 2010, compared with a net loss of $1.60 million on
$39.77 million of revenues for 2009.


CROSS BORDER: Incurs $66,600 Net Loss in Second Quarter
-------------------------------------------------------
Cross Border Resources, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $66,597 on $2.09 million of total revenues and gains
for the three months ended June 30, 2011, compared with a net loss
of $1,143 on $957,307 of total revenues and gains for the same
period during the prior year.

The Company also reported a net loss of $221,513 on $3.69 million
of total revenues and gains for the six months ended June 30,
2011, compared with net income of $237,308 on $1.96 million of
total revenues and gains for the same period during the prior
year.

The Company's balance sheet at June 30, 2011, showed
$26.37 million in total assets, $8.07 million in total
liabilities, and $18.30 million in total stockholders' equity.

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

                        http://is.gd/mMP679

                   About Cross Border Resources

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

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


CRYSTALLEX INT'L: Incurs $10.1 Million Second Quarter Net Loss
--------------------------------------------------------------
Crystallex International Corporation filed with the U.S.
Securities and Exchange Commission its quarterly report on Form
6-K reporting a net loss and comprehensive loss of US$10.14
million for the three months ended June 30, 2011, compared with a
net loss and comprehensive loss of US$13.14 million for the same
period a year ago.

The Company also reported a net loss and comprehensive loss of
US$25.09 million for the six months ended June 30, 2011, compared
with a net loss and comprehensive loss of US$21.34 million for the
same period during the prior year.

The Company's balance sheet at June 30, 2011, showed
US$33.56 million in total assets, US$120.24 million in total
liabilities, and a $86.68 million total shareholders' deficiency.

As at June 30, 2011, the Company had negative working capital of
$86.4 million, including cash and cash equivalents of $18.4
million.  Management estimates that its existing cash and cash
equivalents will be sufficient to meet its on-going requirements
in 2011; however, without receipt of additional sources of
financing, will not be sufficient to pay the principal amount of
the $100 million notes payable due on Dec. 23, 2011.  The
unilateral cancellation of the Mine Operating Contract by the
Corporacion Venezolana de Guayana and the subsequent arbitration
claim may impact on the Company's ability to raise financing. The
Company said these material uncertainties raise substantial doubt
as to its ability to meet its obligations as they come due and,
accordingly, as to the appropriateness of the use of accounting
principles applicable to a going concern.

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

                        http://is.gd/l4ZLSD

                   About Crystallex International

Based in Toronto, Canada, Crystallex International Corporation
(TSX: KRY) (NYSE Amex: KRY) -- http://www.crystallex.com/-- is a
Canadian-based company, which has been granted the Mine Operating
Contract to develop and operate the Las Cristinas gold properties
located in Bolivar State, Venezuela.


CST INDUSTRIES: Moody's Downgrades CFR to 'B3'; Outlook Negative
----------------------------------------------------------------
Moody's Investors Service downgraded Corporate Family Rating of
CST Industries, Inc. to B3 from B2, and lowered the company's
rated bank facilities (revolver and term loan) to B2 from B1. The
rating outlook remains negative.

RATINGS RATIONALE

The downgrade primarily reflects expectations for continued
weakness in near-term financial performance and near-term concerns
about covenant compliance. Given the extremely limited amount of
headroom under CST's financial covenants for the quarter ended
June 30, 2011 and their tightening over the upcoming quarters per
credit agreement amendment dated November 2010, Moody's is
concerned that the company could violate its covenants in the
second half of 2011. The operating environment and demand for the
company's storage tanks and covers continues to remain challenged
and hasn't picked up as rapidly as previously expected due to less
than robust end-market fundamentals. Moody's believes that CST's
business lines focused on municipal end markets could be
especially challenged over the near to intermediate term in light
of the deteriorating state and local government finances.

The negative outlook not only reflects Moody's concerns about the
impact on CST of challenging operating conditions across some of
its end markets but also the uncertainty regarding refinancing
and/or the successful amendment of its bank facilities allowing
for additional headroom under its financial covenants. The ratings
could be downgraded if the company is unable to satisfactorily
amend or refinance its bank facilities . The ratings could also be
lowered if adjusted leverage is expected to rise above current
levels, free cash flow is expected to be negative, end market
fundamentals do not show improvement in the near term, or CST
pursues any activity that would further constrain liquidity or
covenant compliance. The outlook could be stabilized upon
refinancing or bank facilities amendment, and if order activity
improved such that adjusted leverage decreases by at least one
turn.

Ratings downgraded:

- Corporate Family Rating to B3 from B2

- Probability of Default Rating to B3 from B2

- $17 million bank revolver due December 2012 to B2 (LGD3; 36%)
  from B1 (LGD3; 37%)

- $132 million sr secured term loan B due August 2013 to B2 (LGD3;
  36%) from B1 (LGD3; 37%)

Outlook remains negative.

The principal methodology used in rating CST Industries was the
Global Steel 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.

CST Industries, Inc., headquartered in Kansas City, Kansas, is a
global manufacturer and erector of pre-engineered factory-coated
storage tanks and aluminum geodesic domes, covers and roofing
systems. CST's products are used in municipal water, agricultural,
wastewater, oilfield, alternative energy, plastics, chemicals, dry
bulk and architectural markets.


DED DEVELOPMENT: Case Summary & Largest Unsecured Creditor
----------------------------------------------------------
Debtor: DED Development, LLC
        890 Front Road
        Monaca, PA 15061

Bankruptcy Case No.: 11-25140

Chapter 11 Petition Date: August 15, 2011

Court: United States Bankruptcy Court
       Western District of Pennsylvania (Pittsburgh)

Debtor's Counsel: Robert O. Lampl, Esq.
                  960 Penn Avenue, Suite 1200
                  Pittsburgh, PA 15222
                  Tel: (412) 392-0330
                  Fax: (412) 392-0335
                  E-mail: rol@lampllaw.com

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

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

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

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Sebring & Associates      Businesss Debt         $35,184
2735 Mosside Blvd.
Monroeville, PA 15146

The petition was signed by David T. DeLuco, president.


DELTATHREE INC: Files Form 10-Q, Incurs $1.6MM Net Loss in Q2
-------------------------------------------------------------
deltathree, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, reporting a net loss
of $1.62 million on $2.20 million of revenue for the three months
ended June 30, 2011, compared with a net loss of $813,000 on
$3.39 million of revenue for the same period during the prior
year.

The Company also reported a net loss of $1.59 million on
$5.99 million of revenue for the six months ended June 30, 2011,
compared with a net loss of $1.28 million on $6.46 million of
revenue for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $1.66 million
in total assets, $5.07 million in total liabilities, and a
$3.41 million total stockholders' deficiency.

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

                        Bankruptcy Warning

In view of the Company's current cash resources, nondiscretionary
expenses, debt and near term debt service obligations, the Company
may begin to explore all strategic alternatives available to it,
including, but not limited to, a sale or merger of the Company, a
sale of its assets, recapitalization, partnership, debt or equity
financing, financial reorganization, liquidation or ceasing
operations.  In the event that it is unable to secure additional
funding, the Company may determine that it is in its best
interests to voluntarily seek relief under Chapter 11 of the U.S.
Bankruptcy Code.  The Company said seeking relief under the U.S.
Bankruptcy Code, even if the Company is able to emerge quickly
from Chapter 11 protection, could have a material adverse effect
on the relationships between the Company and its existing and
potential customers, employees, and others.  Furthermore, the
Company adds, if it was unable to implement a successful plan of
reorganization, the Company might be forced to liquidate under
Chapter 7 of the U.S. Bankruptcy Code.

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

                        http://is.gd/wTwccK

                         About deltathree

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


DENNIS BROWN: Case Summary & 17 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Dennis Brown Shaolin Wu-Shu Training Center, LLC
        982 Largo Center Dr.,
        Largo, MD 20774

Bankruptcy Case No.: 11-26830

Chapter 11 Petition Date: August 16, 2011

Court: United States Bankruptcy Court
       District of Maryland (Greenbelt)

Judge: Wendelin I. Lipp

Debtor's Counsel: Sharon Theodore-Lewis, Esq.
                  PATRICK HENRY LLP
                  9470 Annapolis Rd, Suite 312
                  Lanham, MD 20706
                  Tel: (240) 296-3488
                  E-mail: stlewis@patrickhenry.net

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

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

A list of the Company's 17 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/mdb11-26830.pdf

The petition was signed by Dennis Brown, manager.


DPAC TECHNOLOGIES: Incurs $34,600 Net Loss in Second Quarter
------------------------------------------------------------
DPAC Technologies Corp. filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $34,571 on $2.24 million of net sales for the quarter
ended June 30, 2011, compared with a net loss of $93,020 on
$1.98 million of net sales for the same period a year ago.

The Company also reported a net loss of $225,607 on $4.25 million
of net sales for the six months ended June 30, 2011, compared with
a net loss of $188,840 on $3.75 million of net sales for the same
period during the prior year.

The Company's balance sheet at June 30, 2011, showed $9.69 million
in total assets, $7.20 million in total liabilities and $2.48
million in total stockholders' equity.

The Company said certain conditions exist that raise substantial
doubt about its ability to continue as a going concern.  These
conditions include recent operating losses, deficit working
capital balances and the inherent risk in extending or refinancing
the Company's bank line of credit, which matures on Sept. 5, 2011.

As reported by the TCR on May 24, 2011, Maloney + Novotny in
Cleveland, Ohio, expressed substantial doubt about DPAC
Technologies' ability to continue as a going concern, following
the Company's 2010 results.  The independent auditors noted that
of the Company's continued operating losses, deficit working
capital balances and the inherent risk in extending or refinancing
its bank line of credit, which matures on May 31, 2011.

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

                        http://is.gd/eQlNzn

                       About DPAC Technologies

Hudson, Ohio-based DPAC Technologies Corp. (OTC QB: DPAC)
-- http://www.quatech.com/-- through its wholly owned subsidiary,
Quatech, Inc., designs, manufactures, and sells device
connectivity and device networking solutions for a broad market.
Quatech sells its products through a global network of
distributors, system integrators, value added resellers, and
original equipment manufacturers.  The Company sells to customers
in both domestic and foreign markets.

DPAC, together with its wholly owned subsidiary Quatech, Inc., on
Aug. 3, 2011, entered into an Asset Purchase Agreement with B&B
Electronics Manufacturing Company and its wholly owned subsidiary,
Q-Tech Acquisition, LLC.  The Asset Purchase Agreement provides
for the sale of substantially all of the assets of Quatech for
$10.5 million in cash.  In connection with the Asset Purchase
Agreement, each of Fifth Third Bank, N.A., and the State of Ohio,
as lenders to DPAC and Quatech, entered into forbearance
agreements with DPAC and Quatech, pursuant to which each consented
to DPAC and Quatech entering into the Asset Purchase Agreement and
agreed to forbear from exercising certain rights under their
respective loan agreement with DPAC and Quatech until the closing
has occurred or the Asset Purchase Agreement has terminated.


DRAYTON VENTURES: Case Summary & 5 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Drayton Ventures, L.P.
        1502 Edgewood Lane
        Winnetka, IL 60093

Bankruptcy Case No.: 11-33360

Chapter 11 Petition Date: August 15, 2011

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

Judge: Eugene R. Wedoff

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

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

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

A list of the Company's five largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ilnb11-33360.pdf

The petition was signed by Mona L. Sweeney, Partner/Executrix for
Estate of James P. Sweeney.


EARTH SEARCH: Delays Filing of Quarterly Report on Form 10-Q
------------------------------------------------------------
Earth Search Sciences, Inc., and its accountants have experienced
delay in completing the information for inclusion in the Company's
quarterly report on Form 10-Q for the period ended June  30, 2011.
The Company expects to file the Quarterly Report within the
alotted extension period.

                        About Earth Search

Lakeside, Montana-based Earth Search Sciences, Inc., is a Nevada
corporation.  The Company has five wholly-owned subsidiaries:
Skywatch Exploration, Inc., Polyspectrum Imaging, Inc., Geoprobe,
Inc., STDC, Inc and General Synfuels International.  In addition,
there are five majority-owned consolidated subsidiaries: Earth
Search Resources, Inc., Eco Probe, Inc., ESSI Probe 1 LC, Petro
Probe, Inc. and Terranet, Inc.  All subsidiaries except Petro
Probe and General Synfuels were inactive during fiscal 2009 and
2010.

The Company reported a net loss of $1.85 for the fiscal year ended
March 31, 2011, compared with a net loss of $1.25 million during
the prior year.

The Company's balance sheet at March 31, 2011, showed $319,704 in
total assets, $20.87 million in total liabilities and a $20.55
million total stockholders' deficit.

MaloneBailey, LLP, in Houston, Texas, noted that the Company has a
$20,553,359 working capital deficit as of March 31, 2011, which
raises substantial doubt about the Company's ability to continue
as a going concern.


EAST COAST: Scott Morrison Okayed as Broker for N.C. Properties
---------------------------------------------------------------
The Hon. Randy D. Doub of the U.S. Bankruptcy Court for the
Eastern District of North Carolina authorized East Coast
Development II, LLC to employ Scott James Morrison of Century 21
Sweyer & Associates of 301-C Western Blvd., Jacksonville, North
Carolina as broker.

Mr. Morrison will list for sale these properties: 67 Court Street,
69 Court Street, 71 Court Street, and 73 Court Street, all of
which are located in Jacksonville, Onslow County, North Carolina.

The Debtor will pay commissions in the amount of 6% of the gross
sales price of each property.

The Debtor related that it obtain authorization to employ Keith
Saieed of Blue Sky Real Estate Services as the broker to list for
sale theseproperties: 67 & 69, 71 & 73 Court Street and 14.4
acres, known as Osprey Point, Jacksonville, Onslow County, North
Carolina.

The Debtor clarified that Mr. Saieed has a listing agreement to
sell the 14.4 acres only, known as Osprey Point, Jacksonville,
Onslow County, North Carolina.  Mr. Saieed does not have, and
never had, a listing agreement for 67 & 69, 71 & 73 Court Street,
Osprey Point, Jacksonville, Onslow County, North Carolina.  The
listing agreement provides that Mr. Saieed will receive
commissions in the amount of 6% of the gross sales price of the
property known as Osprey Point.

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

                  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.  Trawick H. Stubbs, Jr.,
Esq., at Stubbs & Perdue, P.A., serves as bankruptcy counsel.
Laurie R. Brown, CPA, serves as accountant.

The Debtor disclosed $24.8 million in assets and $12.2 million in
liabilities as of the Chapter 11 filing.

The U.S. Trustee has not 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.


EAU TECHNOLOGIES: Incurs $1 Million Net Loss in Second Quarter
--------------------------------------------------------------
EAU Technologies, Inc., file with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, reporting a net loss
of $1.06 million on $71,524 of total sales for the three months
ended June 30, 2011, compared with net income of $3.84 million on
$139,631 of total sales for the same period during the prior year.

The Company also reported a net loss of $1.76 million on $702,166
of total sales for the six months ended June 30, 2011, compared
with net income of $3.62 million on $302,033 of total sales for
the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $2.27 million
in total assets, $8.04 million in total liabilities, all current,
and a $5.77 million total stockholders' deficit.

As reported by the TCR on April 7, 2011, HJ & Associates, LLC, in
Salt Lake City, Utah, expressed substantial doubt about EAU
Technologies' ability to continue as a going concern following the
Company's 2010 results.  The independent auditors noted that the
Company has a working capital deficit as well as a deficit in
stockholders equity.

The Company reported net income of $2.4 million on $697,555 of
revenues for 2010, compared with a net loss of $2.2 million on
$724,510 of revenues for 2009.

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

                        http://is.gd/c9WJR0

                       About EAU Technologies

Kennesaw, Ga.-base EAU Technologies, Inc., is in the business of
developing, manufacturing and marketing equipment that uses water
electrolysis to create non-toxic cleaning and disinfecting fluids
for food safety applications as well as dairy drinking water.


EDINBURG INVESTMENTS: Case Summary & 9 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Edinburg Investments, LLC
        182 Johns Manville Drive
        Edinburg, VA 22824

Bankruptcy Case No.: 11-51167

Chapter 11 Petition Date: August 15, 2011

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

Judge: Ross W. Krumm

Debtor's Counsel: A. Carter Magee, Jr., Esq.
                  MAGEE GOLDSTEIN LASKY & SAYERS, P.C.
                  P.O. Box 404
                  Roanoke, VA 24003
                  Tel: (540) 343-9800
                  E-mail: cmagee@mglspc.com

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

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

A list of the Company's nine largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/vawb11-51167.pdf

The petition was signed by Kevin E. Moyer, managing member.


EIGHT BULLS: Dist. Court Says Rooker-Feldman Doctrine Inapplicable
------------------------------------------------------------------
District Judge Freda L. Wolfson affirmed a bankruptcy court order
granting summary judgment in favor of Andrea Dobin, the Chapter 7
Trustee for Eight Bulls, L.P., in an ownership dispute with
Timothy J. Sheehan and Barbara E. Sheehan.  Timothy Sheehan, as
authorized partner of Eight Bulls, signed the Debtor's Chapter 11
petition.

The Sheehans, proceeding pro se, took an appeal from an order by
Bankruptcy Judge Raymond T. Lyons dated Nov. 8, 2010.  The
Sheehans argue that Judge Lyons erred by holding that the Rooker-
Feldman doctrine was inapplicable to the Eight Bulls bankruptcy
proceeding and that the Bankruptcy Court had no jurisdiction to
grant summary judgment in favor of the Trustee.

In August 2010, following the Chapter 7 Trustee's sale of real
estate owned by the Debtor, the Trustee filed an Adversary
Proceeding in the United States Bankruptcy Court for the District
of New Jersey to determine the extent and validity of the
Sheehans' ownership in the Debtor's lots.  On Sept. 28, 2010, the
Chapter 7 Trustee filed a motion for Summary Judgment arguing that
deeds transferring the Property from the Debtor to the Sheehans as
individuals, were recorded after the Petition Date and, therefore,
were unenforceable against the Trustee.  As a result, the Trustee
argued that her interest in the Property was that of a bona fide
purchaser without notice and that her interest was perfected as of
the Petition Date as provided by Section 544 of the Bankruptcy
Code.

On Nov. 8, 2010, Judge Lyons issued an Order granting summary
judgment in favor of the Trustee and declaring that the Sheehans
have no legal interest in the Lots.

The Sheehans appealed.  The Sheehans argue that Judge Lyons erred
when he determined that the Rooker-Feldman doctrine was not
applicable to the Eight Bulls' bankruptcy proceeding.  The
Sheehans contend that the Bankruptcy Court lacked subject matter
jurisdiction to grant the Trustee's motion for summary judgment
since it "rendered ineffectual the decision or judgment of the
State Court when it determined that the Sheehans were the owners
of [the Lots].  This issue was litigated before the State Court
and Judge Ostrer . . . decided that the Sheehans and not Eight
Bulls, L.P. were the owners of the property.  He initially did so
in October of 2009 and reiterated same in June of 2010."  The
Sheehans also argue that the Trustee's claim is "inextricably
intertwined with the state court adjudication," and, as a result,
that the Rooker-Feldman doctrine barred the Bankruptcy Court's
decision.

In response, the Trustee argues that the Sheehans' application of
the Rooker Feldman doctrine relies upon outdated law and, that
under the proper standard, the Sheehans cannot meet the standard
necessary for its application.

Judge Wolfson agreed.

The Rooker-Feldman doctrine establishes that "federal district
courts lack jurisdiction over suits that are essentially appeals
from state-court judgments." Great Western Mining & Mineral Co. v.
Fox Rothschild, LLP, 615 F.3d 159, 165 (3d Cir. 2010).  Until
2005, federal courts had broadly applied this doctrine to bar
federal review of claims that had been previously litigated in
state court.  See, e.g., Desi's Pzza, Inc. v. City of Wilkes-
Barre, 321 F.3d 411, 419 (3d Cir. 2003).  However, in Exxon Mobil
v. Saudi Basic Indus. Corp., 544 U.S. 280, 284 (2005), the Supreme
Court narrowed the scope of cases to which the Rooker-Feldman
doctrine may be applied and clarified that the doctrine applies
only to cases "brought by state-court losers complaining of
injuries caused by state-court judgments rendered before the
district court proceedings commenced and inviting district court
review and rejection of those judgments."  In other words, if a
case has been previously litigated in state court, a district
court may nonetheless maintain jurisdiction as long as the
"federal plaintiff 'present[s] some independent claim, albeit one
that denies a legal conclusion that a state court has reached in a
case to which he was a party.'"

Subsequently, and in the wake of Exxon, the Third Circuit
articulated a new standard concerning the applicability of Rooker
Feldman and the Supreme Court's mandate that courts should
construe the doctrine narrowly.  Great Western Mining & Mineral
Co. v. Fox Rothschild, LLP, 615 F.3d 159, 166 (3d Cir. 2010).  In
Great Western Mining, the Third Circuit held that Rooker-Feldman
applies only if the following four requirements are met: (1) the
federal plaintiff lost in state court; (2) the plaintiff complains
of injuries caused by a state court judgment; (3) the judgment was
rendered before the federal suit was filed; and (4) the plaintiff
is inviting the district court to review and reject the state
judgments.

Judge Wolfson said the Sheehans cannot establish any of the
requisite four factors.

The District Court case is Timothy J. Sheehan and Barbara E.
Sheehan, Appellants, v. Andrea Dobin, Trustee, Appellee, Civil
Action No. 10-6288 (D. N.J.).  A copy of Judge Wolfson's Aug. 15,
2011 Opinion is available at http://is.gd/Mk6a12from Leagle.com.

Eight Bulls L.P. was the owner of Lots 16, 17 and 18, Block 2102,
in Princeton Township, New Jersey.  Eight Bulls filed a Chapter 11
bankruptcy petition (Bankr. D. N.J. Case No. 09-29356) on July 27,
2009.  On Jan. 29, 2010, the Debtor's case was converted to one
under Chapter 7 of the Bankruptcy Code.  Andrea Dobin was
appointed to serve as the Chapter 7 Trustee.


ELEPHANT TALK: Incurs $6.7 Million Net Loss in Second Quarter
-------------------------------------------------------------
Elephant Talk Communications, Inc., filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q,
reporting a net loss of $6.72 million on $7.79 million of revenue
for the three months ended June 30, 2011, compared with a net loss
of $14.35 million on $9.67 million of revenue for the same period
a year ago.

The Company also reported a net loss of $11.43 million on
$16.29 million of revenue for the six months ended June 30, 2011,
compared with a net loss of $26.69 million on $19.61 million of
revenue for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed
$51.24 million in total assets, $14.14 million in total
liabilities, and $37.09 million in total stockholders' equity.

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

                        http://is.gd/U6VlG5

                        About Elephant Talk

Lutz, Fla.-based Elephant Talk Communications, Inc. (OTC BB: ETAK)
-- http://www.elephanttalk.com/-- is an international provider of
business software and services to the telecommunications and
financial services industry.

The Company reported a net loss of $92.48 million on $37.17
million of revenue for the year ended Dec. 31, 2010, compared with
a net loss of $17.30 million on $43.65 million of revenue during
the prior year.

As reported by the TCR on April 6, 2011, BDO USA, LLP, noted that
the Company has suffered recurring losses from operations and has
a net capital deficiency that raise substantial doubt about its
ability to continue as a going concern.  As of Dec. 31, 2010, the
Company incurred a net loss of $92.5 million, used cash in
operations of $14.1 million and had an accumulated deficit of
$154.8 million.


ENERGY FUTURE: To Offer $115 Million 9.75% Senior Notes Due 2019
----------------------------------------------------------------
Energy Future Holdings Corp. filed with the U.S. Securities and
Exchange Commission a Post-Effective Amendment No. 1 to Form S-3
registration statement relating to the issuance of $115,446,000
9.75% senior secured notes due 2019.  Interest on the Notes is
payable on April 15 and October 15 of each year.

Energy Future may redeem any of the notes beginning on Oct. 15,
2014.  EFH Corp. may also redeem any of the notes at any time
prior to Oct. 15, 2014, at a price equal to 100% of their
principal amount, plus accrued and unpaid interest and a "make-
whole" premium.  In addition, before Oct. 15, 2012, EFH Corp. may
redeem up to 35% of the aggregate principal amount of the notes
using the proceeds from certain equity offerings.

The notes are listed on the New York Stock Exchange under the
symbol "TXU19."

A full-text copy of the amended prospectus is available for free
at http://is.gd/xapbnZ

                         About Energy Future

Energy Future Holdings Corp., formerly known as TXU Corp., is a
privately held diversified energy holding company with a portfolio
of competitive and regulated energy businesses in Texas.  Oncor,
an 80%-owned entity within the EFH group, is the largest regulated
transmission and distribution utility in Texas.  The Company
delivers electricity to roughly three million delivery points in
and around Dallas-Fort Worth.

EFH Corp. was created in October 2007 in a $45 billion leveraged
buyout of Texas power company TXU in a deal led by private-equity
companies Kohlberg Kravis Roberts & Co. and TPG Inc.

                           *     *     *

In April 2011, Moody's Investors Service affirmed the 'Caa2'
Corporate Family Rating, 'Caa3' Probability of Default Rating and
SGL-4 Speculative Grade Liquidity Ratings of EFH.  Outlook is
stable.  EFH's Caa2 CFR and Caa3 PDR reflect a financially
distressed company with limited financial flexibility; its capital
structure appears to be untenable, calling into question the
sustainability of the business model; and there is no expectation
for any meaningful debt reduction over the next few years, beyond
scheduled amortizations.

At the end of February 2011, Fitch Ratings it does not expect to
take any immediate rating action on EFH's Texas Competitive
Electric Holdings Company LLC or their affiliates based on recent
default allegations from lender Aurelius.  EFH carries a 'CCC'
corporate rating, with negative outlook, from Fitch.

The Company's balance sheet at June 30, 2011, showed
$45.07 billion in total assets, $52.01 billion in total
liabilities, and a $6.94 billion total deficit.


ENERJEX RESOURCES: Posts $921,600 Net Income in Second Quarter
--------------------------------------------------------------
EnerJex Resources, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q reporting
net income of $921,600 on $1.68 million of oil revenues for the
three months ended June 30, 2011, compared with net income of
$1.04 million on $1.03 million of oil revenues for the same period
during the prior year.

The Company also reported a net loss of $1.92 million on
$3.05 million of oil revenues for the six months ended June 30,
2011, compared with a net loss of $559,460 on $2.18 million of oil
revenues for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed
$32.76 million in total assets, $13.36 million in total
liabilities, and $19.40 million in total stockholders' equity.

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

                        http://is.gd/Av56A4

                      About EnerJex Resources

Overland Park, Kansas-based EnerJex Resources, Inc., formerly
known as Millennium Plastics Corporation, is an oil and natural
gas acquisition, exploration and development company.  The
Company's oil and natural gas acquisition and development
activities are currently focused in Eastern Kansas.

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


ENRON CORP: Creditors, Lay's Widow Fight Insurer Over Fees
----------------------------------------------------------
Erin Fuchs at Bankruptcy Law360 reports that John Hancock Life
Insurance Co. obstructed and prolonged a fight between Enron Corp.
creditors and Kenneth Lay's widow over $10 million in annuity
payments, the widow's lawyer said Thursday, asking a New York
bankruptcy court to reject Hancock's bid for attorneys' fees.

                         About Enron Corp.

Based in Houston, Texas, Enron Corporation filed for Chapter 11
protection (Bankr. S.D.N.Y. Case No. 01-16033) on Dec. 2, 2001,
following controversy over accounting procedures that caused its
stock price and credit rating to drop sharply.

Enron hired lawyers at Togut Segal & Segal LLP; Weil, Gotshal &
Manges LLP; Venable; Cadwalader, Wickersham & Taft, LLP for its
bankruptcy case.  The Official Committee of Unsecured Creditors in
the case tapped lawyers at Milbank, Tweed, Hadley & McCloy LLP.

The Debtors won confirmation of their Plan in July 2004, and the
Plan was declared effective on Nov. 17, 2004.  After approval of
the Plan, the new board of directors decided to change the name of
Enron Corp. to Enron Creditors Recovery Corp. to reflect the
current corporate purpose.  ECRC's sole mission is to reorganize
and liquidate certain of the operations and assets of the "pre-
bankruptcy" Enron for the benefit of creditors.

ECRC has been involved in the MegaClaims Litigation, an action
against 11 major banks and financial institutions that ECRC
believes contributed to Enron's collapse; the Commercial Paper
Litigation, an action involving the recovery of payments made to
commercial paper dealers; and the Equity Transactions Litigation,
which ECRC filed against Lehman Brothers Holdings, Inc., UBS AG,
Credit Suisse and Bear Stearns to recover payments made to the
four banks on transactions involving Enron's stock while the
company was insolvent.


ENTERPRISE TECHNOLOGY: In Receivership; Owners Evaluate Property
----------------------------------------------------------------
Jondi Gumz at Santa Cruz Sentinel reports that the Enterprise
Technology Centre, best known as the former world headquarters for
Borland in California, is in receivership.

"The economy has taken a toll on commercial real estate," the
report quoted said Tim Ballas, managing director at CB Richard
Ellis, which is acting as receiver, as saying.  "We're evaluating
the best strategy for the property," he added.  That could mean
lease or a sale.

Mr. Ballas noted the value of the property changes with occupancy,
and it currently has just a handful of occupants.  Club One
operates a fitness center in one section, according to Santa Cruz
Sentinel.  The receivership was signed by a judge July 21.

In June, the report notes the property was posted on a watch list
of nonperforming office loans by Trepp LLC, which tracks the
commercial mortgage-backed securities market.  The balance owed
was $32,497,665.

A notice of default was filed July 13, according to the Santa Cruz
Record, which listed the original note at $63.5 million, making it
the largest loan in the county to go into default during the real
estate meltdown, Santa Cruz Sentinel says.

Santa Cruz Sentinel relates that the servicer overseeing the loan
is LNR Partners, which was the servicer on a loan for the Scotts
Valley Hilton and installed new management in January.

Mr. Ballas said Triple Net remains the owner of the property, and
that the owner and servicer agreed on receivership, Santa Cruz
Sentinel adds.

Enterprise Technology Centre is a 495,000-square-foot office
complex, consisting of seven three-story buildings, was built in
1993 for $120 million by Philippe Kahn for his growing software
company.


ERP-LINK CORP: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: ERP-Link Corp
        510 SW 5th Avenue, Suite 200
        Portland, OR 97204

Bankruptcy Case No.: 11-37108

Chapter 11 Petition Date: August 17, 2011

Court: U.S. Bankruptcy Court
       District of Oregon

Judge: Randall L. Dunn

Debtor's Counsel: Howard M. Levine, Esq.
                  SUSSMAN SHANK LLP
                  1000 SW Broadway #1400
                  Portland, OR 97205
                  Tel: (503) 243-1637
                  E-mail: hlevine@sussmanshank.com

Scheduled Assets: $199,552

Scheduled Debts: $2,006,811

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/orb11-37108.pdf

The petition was signed by John Eric Anderson, president.


EVERGREEN SOLAR: Makes Public Information Sent to Noteholders
-------------------------------------------------------------
As reported in the TCR on Aug. 19, 2011, Evergreen Solar, Inc.,
entered into a Restructuring Support Agreement with certain
holders of its 13% Convertible Senior Secured Notes due 2015.
The Support Agreement was the result of the Company's previously
announced negotiations with the Supporting Noteholders regarding
the restructuring of the Company's existing debt.

As part of the negotiations, the Company had previously provided
the Supporting Noteholders with certain confidential information
about the Company, which may be deemed material.

On Aug. 12, 2011, the non-disclosure agreements that the Company
entered into with the Supporting Noteholders expired and the
Company is required by the terms of such non-disclosure agreements
to disclose to the public via a Current Report on Form 8-K any
material non-public information previously provided to the
Supporting Noteholders.

A copy of the Investor Presentation dated May 2011 prepared for
the Supporting Noteholders containing such confidential
information is available at http://is.gd/iA1arp

A copy of the Investor Presentation dated June 2011 prepared for
the Supporting Noteholders containing such confidential
information is available at http://is.gd/7YXKBe

A copy of a cash sources and uses table prepared for the
Supporting Noteholders containing such confidential information is
available at http://is.gd/04ev38

A copy of a cash balance forecast prepared for the Supporting
Noteholders containing such confidential information is available
at http://is.gd/nGT58w

In addition, the Company also provided the Supporting Noteholders
with information about certain corporate events.  These are
discussed in detail in the Form 8-K, a copy of which is available
at http://is.gd/J5LfZF

The information contained in the Form 8-K, including the exhibits
attached to the Form 8-K, contains forward-looking statements.
"These forward-looking statements are subject to risks and
uncertainties which could cause them to differ materially from
those currently anticipated in such statements," the Company said
in the filing.

                      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.

Ronald J. Silverman, Esq., and Scott K. Seamon, Esq., at Bingham
McCutchen LLP, serve as general bankruptcy counsel to the Debtor.
Laura Davis Jones, Esq., and Timothy P. Cairns, Esq., at Pachulski
Stang Ziehl & Jones LLP, serve as co-counsel.  Zolfo Cooper LLC is
the financial advisor.  Epiq Bankruptcy Solutions has been tapped
as 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.  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 11 U.S.C. Sec. 363.  An entity formed by the
supporting noteholders, ES Purchaser, LLC, entered into an asset
purchase agreement with the Company to serve as a "stalking-horse"
and provide a "credit-bid" pursuant to the Bankruptcy Code for
assets being sold.

The supporting noteholders are represented by Michael S. Stainer,
Esq., and Natalie E. Levine, Esq., at Akin Gump Strauss Hauer &
Feld LLP, in New York.


EVERGREEN SOLAR: Wins OK to Cover Key Obligations in Chapter 11
---------------------------------------------------------------
Dow Jones' DBR Small Cap reports that Evergreen Solar Inc. won
bankruptcy-court approval of various "first-day" requests that
will ensure its continued operations as it works to sell its
assets during its newly launched Chapter 11 case.

                      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.

Ronald J. Silverman, Esq., and Scott K. Seamon, Esq., at Bingham
McCutchen LLP, serve as general bankruptcy counsel to the Debtor.
Laura Davis Jones, Esq., and Timothy P. Cairns, Esq., at Pachulski
Stang Ziehl & Jones LLP, serve as co-counsel.  Zolfo Cooper LLC is
the financial advisor.  Epiq Bankruptcy Solutions has been tapped
as 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.  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 11 U.S.C. Sec. 363.  An entity formed by the
supporting noteholders, ES Purchaser, LLC, entered into an asset
purchase agreement with the Company to serve as a "stalking-horse"
and provide a "credit-bid" pursuant to the Bankruptcy Code for
assets being sold.

The supporting noteholders are represented by Michael S. Stainer,
Esq., and Natalie E. Levine, Esq., at Akin Gump Strauss Hauer &
Feld LLP, in New York.


EXTERRAN HOLDINGS: S&P Raises Rating on 4.25% Sr. Notes to 'BB'
---------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BBB-' issue-level
rating (two notches higher than the corporate credit rating) and
'1' recovery rating to Exterran Holdings Inc.'s new $1.1 billion
five-year senior secured revolving credit facility maturing in
2016. "The '1' recovery rating indicates our expectation for very
high (90% to 100%) recovery of principal in the event of payment
default. The company's new $1.1 billion revolving credit facility
replaces the existing $850 million facility due 2012 and the $800
million term loan due 2013. As a result, we are withdrawing our
ratings on these two issues," S&P said.

"As a result of the changes to the capital structure and the lower
amount of secured debt in the capital structure, we are raising
the issue level rating on Exterran's 4.25% convertible senior
notes to BB (the same as the corporate credit rating) from 'B+',
and revised the recovery rating on this issue to '4' from '6,
indicating our expectations of average (30% to 50%) recovery of
principal in the event of a payment default. We also revised our
recovery rating on the company's 4.75% convertible notes to '3'
from 4, indicating our expectation of meaningful (50% to 70%)
recovery of principal in the event of a payment default," S&P
related.

The ratings on Exterran Holdings Inc. reflect the company's
participation in the highly competitive, capital-intensive natural
gas compression services industry; its leveraged financial
profile; and the master limited partnership (MLP) structure of
Exterran's growing subsidiary, Exterran Partners L.P. (EXLP). The
ratings also incorporate Exterran's exposure to production versus
exploration, the company's large share of the domestic contract
compression market, and its business and geographic diversity. "As
of June 30, 2011, Exterran had approximately $1.76 billion in debt
outstanding, adjusted for accrued interest and operating leases.
The negative outlook on Exterran is based on our expectation that
consolidated debt to EBITDA could stay close to 4.0x through
2011," S&P said.

Ratings List
Corporate credit rating                    BB/Negative/--

New Rating
$1.1 bil sr secd rev cred facil due 2016   BBB-
   Recovery rating                                1

Upgraded And Recovery Rating Revised
                                            To        From
4.25% convrtble sr notes                   BB        B+
   Recovery rating                          4         6

Recovery Rating Revised
4.75% convertible notes                    BB         BB
   Recovery rating                          3          4


FENTURA FINANCIAL: Incurs $245,000 Net Loss in Second Quarter
-------------------------------------------------------------
Fentura Financial, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $245,000 on $3.23 million of total interest income for
the three ended June 30, 2011, compared with a net loss of
$2.78 million on $3.85 million of total interest income for the
same period during the prior year.

The Company also reported net income of $65,000 on $6.58 million
of total interest income for the six months ended June 30, 2011,
compared with a net loss of $3.26 million on $7.78 million of
total interest income for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $303.33
million in total assets, $286.92 million in total liabilities and
$16.41 million in total shareholders' equity.

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

                        http://is.gd/QFmsRV

                      About Fentura Financial

Based in Fenton, Michigan, Fentura Financial, Inc., is a
registered bank holding company, owns and controls The State Bank,
Fenton, Michigan, and West Michigan Community Bank, Hudsonville,
Michigan, both state nonmember banks, and two nonbank
subsidiaries.  Fentura Financial shares are traded over the
counter under the FETM trading symbol.

As reported in the Troubled Company Reporter on March 22, 2010,
Crowe Horwath LLP, in Grand Rapids, Mich., 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 incurred net losses in 2009 and 2008, primarily from
higher provisions for loan losses, and non-compliance with the
higher capital requirements of the Consent Orders.

Fentura Financial, Inc., entered into a Written Agreement with
the Federal Reserve Bank of Chicago on Nov. 4, 2010.  Among
other things, the Written Agreement requires that the Company
obtain the approval of the FRB prior to paying a dividend;
requires that the Company obtain the approval of the FRB prior to
making any distribution of interest, principal, or other sums on
subordinated debentures or trust preferred securities; prohibits
the Company from purchasing or redeeming any shares of its stock
without the prior written approval of the FRB; requires the
submission of a written capital plan by Jan. 3, 2011, and;
requires the Company to submit cash flow projections for the
Company to the FRB on a quarterly basis.

The Company reported a net loss of $5.38 million on $13.87 million
of interest income for the year ended Dec. 31, 2010, compared with
a net loss of $16.98 million on $16.24 million of interest income
during the prior year.


FIESTA RESTAURANT: S&P Assigns 'B' Corporate Credit Rating
----------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' corporate
credit rating to Syracuse, N.Y.-based Fiesta Restaurant Group Inc.
The outlook is stable.

"At the same time, we assigned a 'B' rating to the company's $200
million second-lien secured notes. We rate the notes the same as
the corporate credit rating, and assigned a '4' recovery rating to
the debt, indicating our expectations of average (30%-50%)
recovery of principal in the event of default," S&P said.

The company used proceeds from the note issuance and funds from a
new term loan issued at Carrols LLC, a subsidiary of Carrols that
operates Burger King restaurants, to pay Carrols' previous debt
obligations. These transactions will allow Carrols to spin off
Fiesta later this year. Fiesta, at that point, will independently
operate Carrols' current Hispanic brands, Pollo Tropical and Taco
Cabana.

"The speculative-grade rating on Fiesta reflects our expectation
that the company's credit ratios will remain characteristic of a
'B' rating," said Standard & Poor's credit analyst Charles Pinson-
Rose, "given its participation in the very competitive restaurant
industry and our view that the company's business risk profile is
weak." "Although we are forecasting better profits as a result of
higher same-store sales and new unit growth, we do not expect to
change our highly leveraged assessment of Fiesta's financial risk
profile."


FIRST SECURITY: Incurs $5.4 Million Net Loss in Second Quarter
--------------------------------------------------------------
First Security Group, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $5.39 million on $11.01 million of total interest
income for the three months ended June 30, 2011, compared a net
loss of $2.12 million on $14.29 million of total interest income
for the same period during the prior year.

The Company also reported a net loss of $8.05 million on
$22.51 million of total interest income for the six months ended
June 30, 2011, compared with a net loss of $3.24 million on
$29.33 million of total interest income for the same period a year
ago.

The Company's balance sheet at June 30, 2011, showed $1.10 billion
in total assets, $1.02 billion in total liabilities, and
$84.78 million in total stockholders' equity.

Joseph Decosimo and Company, PLLC, in Chattanooga, Tennessee,
expressed substantial doubt about the Company's ability to
continue as a going concern.  The independent auditors noted that
the Company has incurred losses from operations for the past two
years.  The Company is also operating under formal supervisory
agreements with the Federal Reserve Bank of Atlanta and the Office
of the Comptroller of the Currency and is not in compliance with
all provisions of the Agreements.  Failure to achieve all of the
Agreements' requirements may lead to additional regulatory
actions.

According to the Company, its ability to continue as a going
concern is contingent upon its ability to devise and successfully
execute a management plan to develop profitable operations,
satisfy the requirements of the regulatory actions detailed below,
and lower the level of problem assets to an acceptable level.

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

                       http://is.gd/vHeusE

                    About First Security Group

First Security Group, Inc., is a bank holding company
headquartered in Chattanooga, Tennessee, with $1.2 billion in
assets as of Sept. 30, 2010.  Founded in 1999, First
Security's community bank subsidiary, FSGBank, N.A., has 37 full-
service banking offices, including the headquarters, along the
interstate corridors of eastern and middle Tennessee and northern
Georgia and 325 full-time equivalent employees.  In Dalton,
Georgia, FSGBank operates under the name of Dalton Whitfield Bank;
along the Interstate 40 corridor in Tennessee, FSGBank operates
under the name of Jackson Bank & Trust.

On Sept. 7, 2010, the Company entered into a Written Agreement
with the Federal Reserve Bank of Atlanta, the Company's primary
regulator, which prohibits the Company from declaring or paying
dividends without prior written consent of the Federal Reserve.
The Company is also prohibited from taking dividends, or any other
form of payment representing a reduction of capital, from the Bank
without prior written consent.

The Company is also required, within 60 days of the Agreement, to
submit to the Federal Reserve a written plan designed to maintain
sufficient capital at the Company and the Bank.

On April 28, 2010, FSGBank, the Company's wholly-owned subsidiary,
consented and agreed to the issuance of a Consent Order by the
Office of the Comptroller of the Currency (OCC).  Pursuant to that
Consent Order, within 120 days of the effective date of the Order,
the Bank is required to achieve and thereafter maintain total
capital at least equal to 13% of risk-weighted assets and
Tier 1 capital at least equal to 9% of adjusted total
assets.

As of Sept. 30, 2010, the first financial reporting period
subsequent to the 120 day requirement, the Bank's total capital to
risk-weighted assets was 12.93% and the Tier 1 capital to
adjusted total assets was 7.43%.  The Bank has notified the
OCC of the non-compliance.

The Company reported a net loss of $44.34 million on
$54.91 million of total interest income for the year ended
Dec. 31, 2010, compared with a net loss of $33.45 million on
$64.00 million of total interest income during the prior year.


FIRSTPLUS FIN'L: AMC Tapped as Appraiser for Aircraft
-----------------------------------------------------
Matthew D. Orwig, the Chapter 11 Trustee for the estate of
FirstPlus Financial Group, Inc., seeks to employ Aviation
Management Consulting, Inc. as (i) an appraiser to determine the
current market value of a certain airplane and (ii) as an expert
witness, if the need for valuation testimony arises.

On Jun. 22, 3011, the Trustee filed an original complaint to avoid
fraudulent transfer, seeking to recover title to a Mitsubishi MU-
2B-60, s/n 1562SA, N1164 aircraft currently titled in Velia
Charters, Inc., and, upon information and belief, currently in the
custody of the U.S. Marshals Service, pursuant to, inter alia,
Sections 544 and 548 of the Bankruptcy Code and Sections 24.005
and 24.008 of the Texas Business & Commerce Code, and under common
law theories of unjust enrichment and constructive trust.

AMC is to be paid a flat fee of $3,000 for the appraisal as well
as a total daily inspection fee of $3,000 -- $1,500 per day of the
inspection, which is estimated to take two days.  AMC will also be
reimbursed for its actual and necessary expenses.

If required to provide expert appraisal or valuation testimony,
AMC's designated expert will charge the Estate $600 per hour for
the testimony, including preparations.  Compensation and
reimbursement to AMC will be paid out of property of the Estate,
subject to Court approval.

Based upon the affidavit of Kenneth M. Dufour, president and chief
executive officer of AMC, the Trustee believes that the firm is a
disinterested person as the term is defined in Section 101(14) of
the Bankruptcy Code and that AMC has no interests adverse to those
of the Estate.

                  About FirstPlus Financial

Based in Beaumont, Texas, FirstPlus Financial Group, Inc. --
http://www.firstplusgroup.com/-- (Pink Sheets: FPFX) is a
diversified company that provides commercial loan, consumer
lending, residential and commercial restoration, facility
(janitorial and maintenance) services, insurance adjusting
services, construction management services and a facilities and
restoration franchise business.  The Company has three direct
subsidiaries, Rutgers Investment Group, Inc., FirstPlus
Development Company and FirstPlus Enterprises, Inc.  In turn,
FirstPlus Enterprises, Inc., has three of its own direct
subsidiaries, FirstPlus Restoration Co., LLC, FirstPlus Facility
Services Co., LLC and The Premier Group, LLC.  FirstPlus
Restoration and FirstPlus Facility jointly own FirstPlus
Restoration & Facility Services Company.  Additionally, FirstPlus
Development has one direct subsidiary FirstPlus Acquisitions-1,
Inc.

A subsidiary of FirstPlus Financial Group -- FirstPlus Financial
Inc. -- filed for Chapter 11 bankruptcy in March 1999 before the
U.S. Bankruptcy Court for the Northern District of Texas, Dallas
Division, amid turmoil in the asset-backed securitization markets
and the lack of a reliable, committed secondary take-out source
for high LTV loans.  A modified third amended plan of
reorganization was confirmed in that case in April 2000.

The Company filed for Chapter 11 protection on June 23, 2009
(Bankr. N.D. Tex. Case No. 09-33918).  Aaron Michael Kaufman,
Esq., and George H. Tarpley, Esq., at Cox Smith Matthews
Incorporated, serves as counsel.  The Debtor has total
assets of $15,503,125 and total debts of $4,539,063 as of June 30,
2008.  FirstPLUS Financial Group disclosed $1,264,637 in assets
and $10,347,448 in liabilities as of the Chapter 11 filing.

Matthew D. Orwig is appointed as the Chapter 11 trustee in the
Debtors cases.  The trustee is represented by Peter A. Franklin,
Esq., and Erin K. Lovall, Esq., at Franklin Skierski Lovall
Hayward LLP.

                          *     *     *

The Trustee notified the Court that Peter Franklin and the law
firm of Franklin Skierski Lovall Hayward, LLP, which firm
presently represents the Trustee as local counsel, will be
substituted as lead counsel for the Trustee in the stead of Jo
Christine Reed and SNR Denton US, LLP, due to the maternity leave
of Ms. Reed.

The firm may be reached at:

          Peter Franklin, Esq.
          FRANKLIN SKIERSKI LOVALL HAYWARD LLP
          10501 N. Central Expy., Suite 106
          Dallas Texas 75231
          Tel: 972-755-7100
          Fax: 972-755-7110
          E-mail: pfranklin@fslhlaw.com


GALP CNA: Court Confirms Plans of Reorganization
------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas
confirmed Wentwood Roundhill I, L.P., and GALP CNA Limited
Partnership's separate Fourth Modified Plans of Reorganization
dated as of July 22, 2011.

Wentwood Roundhill I's modified plan stated that on Page 8 --

     "[the] Debtor is to pay down $1,000,000 of the principal on
     Centrum Financial Services, Inc.'s secured first lien claim
     on the Effective Date, said payment and any and all other
     principal reduction payments will be made to First-Citizens
     Bank & Trust Company, pursuant to instructions provided by
     Centrum and First-Citizens Bank & Trust Company until First-
     Citizens Bank & Trust is paid in full."

Under GALP CNA's Plan, the Debtor intends to fund the Plan of
Reorganization out of: (i) new equity (in the form of mandatory
and non-mandatory cash calls on various limited partners); and
(ii) collection of related party receivables.

GALP CNA's Plan provides that:

   -- The claim of Centrum secured by a lien on the Debtor's is
   allowed, on a final basis, in the agreed amount of $3,720,030.
   On the Effective Date, the reorganized Debtor will pay $572,592
   to Centrum, reducing the arrearage of back interest (at the
   non-default rate) and any ad valorem property taxes that were
   paid by Centrum, leaving an unpaid balance of $3,148.438.

   -- Each creditor holding a Class 6 general unsecured claim will
   be paid 20% of its allowed claim, in cash, on the Effective
   Date.

   -- Each equity interest holder in Class 9 will be allowed to
   retain such interest held.

The Court further ordered that (i) at least $2,168,991 of the
funds currently held of Wentwood Roundhill I's counsel's IOLTA
account will be reserved and used for the Effective Date payments
required; and (ii) at least $906,743 of the funds currently held
of  GALP CNA Limited's counsel's IOLTA account will be reserves
and used for the Effective Date Payments required.

A full-text copy of the modified plans are available for free at:

  http://bankrupt.com/misc/GALPCNA_plan_galpcnalimited.pdf
  http://bankrupt.com/misc/GALPCNA_plan_wentwoodroundhilli.pdf

                          About GALP CNA

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

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

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

Houston, Texas-based Wentwood Woodside filed for Chapter 11
bankruptcy protection on Oct. 4, 2010 (Bankr. S.D. Tex. Case
No. 10-38981).  It estimated its assets at $10 million to
$50 million and debts at $1 million to $10 million at the Petition
Date.  Three affiliates -- Wentwood Roundhill, Wentwood
Rollingbrook, and GALP Cypress (Case No. 10-38991) -- also filed
for Chapter 11 bankruptcy protection on Oct. 4, 2010.

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


GALP CYPRESS: Cypress Has Access to Keybank's Cash Until Aug. 31
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas
extended GALP Cypress Limited Partnership's access to KeyBank,
N.A.'s cash collateral until Aug. 31, 2011.

KeyBank has agreed to the Debtor's extension of the interim period
to make required monthly adequate assurance payments to KeyBank on
its secured indebtedness in the amount of $54,375 for August 2011.

The Debtor's access to the cash collateral will be subject to the
same terms and conditions governing the use of cash collateral set
forth agreed interim order, except that the adequate assurance
payment is to be made to KeyBank, rather than to Centrum/Equity
Funding.

                          About GALP CNA

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

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

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

Houston, Texas-based Wentwood Woodside filed for Chapter 11
bankruptcy protection on Oct. 4, 2010 (Bankr. S.D. Tex. Case
No. 10-38981).  It estimated its assets at $10 million to
$50 million and debts at $1 million to $10 million at the Petition
Date.  Three affiliates -- Wentwood Roundhill, Wentwood
Rollingbrook, and GALP Cypress (Case No. 10-38991) -- also filed
for Chapter 11 bankruptcy protection on Oct. 4, 2010.

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


GAMESTOP CORP: Q2 Profit Slumps 23% on Same-Store Sales Decline
---------------------------------------------------------------
Dow Jones' DBR Small Cap reports that GameStop Corp.'s fiscal
second-quarter earnings slumped 23% as the videogame retailer
suffered a stiff decline in same-store sales and lighter demand
for its new products.

                       About GameStop Corp.

GameStop Corp., headquartered in Grapevine, Texas, is the world's
largest specialty retailer of video game products and PC
entertainment software.  The company operates over 6,600 stores in
17 countries with revenues of about $9.3 billion.

                          *     *     *

The Company has a 'Ba1' corporate family rating as well as a 'Ba1'
rating on $250 million senior unsecured notes, from Moody's
Investors Service.


GARLOCK SEALING: Hires Rust Consulting as Claims Handling Agent
---------------------------------------------------------------
The Honorable George R. Hodges has approved the application of
Garlock Sealing Technologies LLC, et al. to employ Rust
Consulting, Inc. as their official claims handling agent.

With respect to claims other than claims seeking compensation for
alleged asbestos-related personal injury or wrongful death, Rust
Consulting will provide services, including:

     * Maintain the claims register for all proofs of claim filed
       in these cases;

     * Receive and docket all proofs of claim in these cases;

     * Date-stamp all proofs of claim on the date of receipt.
       Proofs of claim received by the Court will be date-stamped
       on the date of receipt by the Clerk and forwarded to the
       Claims Handling Agent for acknowledgment and docketing;

     * Perform proper data quality assurance to verify that each
       portable document format image is complete and information
       listed on each claim is accurately reflected in the Claims
       register;

     * Record all transfers of claims pursuant to Bankruptcy Rule
       3001(e) and provide notice of the transfers; and

     * Comply with applicable federal and state laws, rules,
       orders and regulations, and the further conditions and
       requirements as the Clerk of Court may prescribe.

                     About Garlock Sealing

Headquartered in Palmyra, New York, Garlock Sealing Technologies
LLC is a unit of EnPro Industries, Inc. (NYSE: NPO).  For more
than a century, Garlock has been helping customers efficiently
seal the toughest process fluids in the most demanding
applications.

On June 5, 2010, Garlock filed a voluntary Chapter 11 petition
(Bankr. W.D. N.C. Case No. 10-31607) in Charlotte, North Carolina,
to establish a trust to resolve all current and future asbestos
claims against Garlock under Section 524(g) of the U.S. Bankruptcy
Code.  The Debtor estimated $500 million to $1 billion in assets
and up to $500 million in debts as of the Petition Date.
Affiliates The Anchor Packing Company and Garrison Litigation
Management Group, Ltd., also filed for bankruptcy.

The filing covers only Garlock operations in Palmyra, New York and
Houston, Texas.  Garlock Rubber Technologies, Garlock Helicoflex,
Pikotek, Technetics, Garlock Europe and Garlock operations in
Canada, Mexico or Australia are not affected by the filing, nor is
EnPro Industries or any other EnPro operating subsidiary.

Albert F. Durham, Esq., at Rayburn Cooper & Durham, P.A.,
represents the Debtor in its Chapter 11 effort.  Garland S.
Cassada, Esq., at Robinson Bradshaw & Hinson, serves as counsel
for asbestos matters.

The Official Committee of Asbestos Personal Injury Claimants in
the Chapter 11 cases is represented by Travis W. Moon, Esq., at
Hamilton Moon Stephens Steele & Martin, PLLC, in Charlotte, NC,
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, in New
York, and Trevor W. Swett III, Esq., Leslie M. Kelleher, Esq., and
Jeanna Rickards Koski, Esq., in Washington, D.C. 20005.

Joseph W. Grier, III, the Court-appointed legal representative for
future asbestos claimants, has retained A. Cotten Wright, Esq., at
Grier Furr & Crisp, PA, and Richard H. Wyron, Esq., and Jonathan
P. Guy, Esq., at Orrick, Herrington & Sutcliffe LLP, as his co-
counsel.

About 124,000 asbestos claims are pending against Garlock in
stateand federal courts across the country.  The Company says
majority of pending asbestos actions against it is stale and
dormant -- almost 110,000 or 88% were filed more than four years
ago and more than 44,000 or 35% were filed more than 10 years ago.


GATEWAY HOTEL: Court to Tackle 'Market Testing' Plan on Wednesday
-----------------------------------------------------------------
2010-1 SFG Venture LLC, a secured lender of Gateway Hotel LLC,
asks the bankruptcy court to modify the Debtor's exclusive
solicitation period to permit the filing of a competing plan as a
means of market testing the Debtor's Plan.  The Lender also asks
the Court to allow the SFG Competing Plan to be solicited and
proceed to confirmation concurrently with the Debtor's Plan.

2010-1 SFG Ventures states that by not providing its general
unsecured creditors with the full present value of their claims
while providing that the Debtor's existing equity holders will
retain their equity for no consideration, the Debtor's Plan
violates the absolute priority rule provided in Section
1129(b)(2)(B) of the Bankruptcy Code.

2010-1 SFG Ventures tells the Court that the Debtor's Plan
presents a unique circumstance -- "a new value plan with no new
value."  While all new value plans must be market tested, this is
especially true where the new equity interests are being purchased
for nothing, according to SFG,  A competing plan, proposed by SFG,
is the easiest and least expensive means to market test the
Debtor's Plan.

The motion is scheduled for hearing on Aug. 24 at 11:00 a.m.

2010-1 SFG Venture LLC is represented by:

     David D. Cleary, Esq.
     Kami M. Hoskins, Esq.
     GREENBERG TRAURIG LLP
     2375 East Camelback Road, Suite 700
     Phoenix, Arizona 85016
     Phone: (602) 445-8000
     Fax: (602) 445-8100
     E-mail: clearyd@gtlaw.com

                         The Debtor's Plan

The Debtor has filed a plan that proposes to pay all claims in
full, either on the effective date or over time.  In connection
with successfully accomplishing the foregoing, the Debtor proposes
to restructure the terms of its subsidiaries owed to lender, the
largest single creditor of the estate, so that the Debtor is
afforded the necessary breathing room to pay lender's claim in
full, with interest, over time.

The Debtor will make plan distributions from revenues generated by
the Debtor's business operations or such other sources as the
Debtor deems appropriate in its reasonable business judgment.

Judge James M. Marlar of the U.S. Bankruptcy Court for the
District of Arizona approved the disclosure statement explaining
the Plan on July 25, 2011.

The hearing to consider the confirmation of the Plan will be held
on Sept. 22, 2011, at 9:00 a.m.  Plan confirmation objections are
due Sept. 15.

                        About Gateway Hotel

Phoenix, Arizona-based Gateway Hotel LLC -- aka Hilton Garden Inn
and Hilton Garden Inn Phoenix Airport North -- is primarily
engaged in the hotel and restaurant business.  It filed for
Chapter 11 bankruptcy protection on March 29, 2011 (Bankr. D.
Ariz. Case No. 11-08302).  Kyle S. Hirsch, Esq., at Bryan Cave
LLP, serves as the Debtor's bankruptcy counsel.  The Debtor
estimated its assets and debts at $10 million to $50 million.

Affiliate Windsor Commercial Construction, LLC, filed a separate
Chapter 11 petition on Oct. 13, 2009 (Bankr. D. Ariz. Case No.
09-25724).


GERDAU AMERISTEEL: Moody's Withdraws 'Ba1' Corp. Family Rating
--------------------------------------------------------------
Moody's Investors Service has withdrawn Gerdau Ameristeel
Corporation's Ba1 Corporate Family and Probability of Default
ratings. Moody's has withdrawn the ratings for its own business
reasons.

These ratings were withdrawn:

Corporate Family Rating, Ba1;

Probability of Default, Ba1

The Ba1 rated 5.3% Industrial Revenue Bonds, Series 2007 due May
2037, issued by Jacksonville Economic Development Commission, are
now guaranteed by Gerdau S.A., - global scale corporate family
rating Ba1. The ratings are under review for possible upgrade.

The last rating action was implemented on March 22, 2011, when
Moody's placed the Ba1 global scale corporate family ratings of
Gerdau S.A. and Gerdau Ameristeel Corporation under review for
possible upgrade, following the announcement of a primary equity
issuance by Gerdau of about BRL 3.8 billion to BRL 4.2 billion.

The principal methodology used in rating Gerdau and Ameristeel was
the Global Steel 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. Please see the Credit Policy page on
www.moodys.com for a copy of these methodologies.


GOLD HILL: Seeks to Employ Hartsell & Williams as Special Counsel
-----------------------------------------------------------------
Gold Hill Enterprises, LLC seeks to employ K. Todd Phillips and
the firm Hartsell & Williams, P.A., as its special counsel.

The firm will be paid its regularly hourly rates, which range from
$150 to $295 for attorneys, and $125 to $150 for paralegals.

The firm disclosed associations or former representations with
certain entities, including CESI, LLC; First Charter Bank, which
merged into Fifth Third Bank, N.A.; and The law firm of Mack and
Mack in matters unrelated to the bankruptcy case, and believes
that these connections do not create any conflict of interest or
represent any interest adverse to the Debtor or its estate.

Based on the declaration of K. Todd Phillips, the Debtor believes
that the Firm is a disinterested person as the term is defined in
Section 101(14) of the Bankruptcy Code.

                    About Gold Hill Enterprises

Fort Mill, South Carolina-based Gold Hill Enterprises, LLC, dba
Jennings Enterprises, filed for Chapter 11 bankruptcy protection
(Bankr. D. S.C. Case No. 11-02458) on April 14, 2011.  According
to its schedules, the Debtor disclosed $11,938,596 in total assets
and $7,351,872 in total debts.

Barton Law Firm, P.A., represents the Debtor in its restructuring
effort.  B. Bayles Mack and the firm of Mack & Mack serves as
special counsel.  Keith Corporation serves as marketing and
development agent.  Robert Palmer & Associates serves as tax
accountant to assist in the preparation of all tax filings and
returns required post petition, and other accounting services that
may be necessary during the pendency of the Chapter 11 case.

W. Clarkson Mcdow, Jr., the U.S. Trustee for Region 4, was unable
to appoint an official committee of unsecured creditors in the
Debtor's case.


GREAT LAKES AVIATION: Reports $606,500 2nd Quarter Net Income
-------------------------------------------------------------
Great Lakes Aviation, Ltd., filed its quarterly report on Form
10-Q, reporting net income of $606,552 on $31.2 million of
revenues for the three months ended June 30, 2011, compared with
net income of $1.4 million on $31.0 million of revenues for the
same period last year.

The Company reported net income of $29,146 on $60.9 million of
revenues for the six months ended June 30, 2011, compared with net
income of $1.2 million on $59.8 million of revenues for the same
period of 2010.

At June 30, 2011, the Company has $34.3 million of long-term debt
payments or debt maturity debt payments due in the next twelve
months.  At June 30, 2011, the largest portion of the Company's
long-term debt was held by the Company's principal creditor and
largest single shareholder, Raytheon Aircraft Credit Corporation.

The notes, which were used to finance the purchase of aircraft,
are secured by 25 Beechcraft 1900D aircraft and originally matured
on June 30, 2011.  Under an agreement with Raytheon dated June 10,
2011, the maturity date of these aircraft notes was extended to
Aug. 31, 2011, at which time a $31.8 million balloon payment for
all 25 aircraft notes is due.  The Company's senior note with
Raytheon, in the amount of $6.9 million at June 30, 2011, is cross
defaulted to the aircraft notes.

In the event that the Company is unable to obtain new financing,
Raytheon may exercise alternatives available to it, including the
foreclosure and taking of the 25 mortgaged aircraft and causing
the $6.9 million senior note to become due and payable.

"The inability to successfully implement a refinancing plan or
otherwise address the Company's liquidity issue within the
timeframe permitted will have a material adverse effect on our
business, results of operations, and financial position," the
Company said in the filing.  "This raises substantial doubt as to
our ability to continue operating as a going concern."

The Company's balance sheet at June 30, 2011, showed
$79.9 million in total assets, $51.0 million in total liabilities,
and stockholders' equity of $28.9 million.

As reported in the TCR on April 12, 2011, KPMG LLP, in Denver,
expressed substantial doubt about Great Lakes Aviation's ability
to continue as a going concern, following the Company's results
for 2010.  The independent auditors noted that the Company has
$38.4 million of debt payments and maturities due in 2011,
including a one-time payment in the amount of $32.7 million due on
June 30, 2011.  The independent auditors said that the Company's
cash flows from operations are not sufficient to fund these debt
obligations.

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

Cheyenne, Wyo.-based Great Lakes Aviation, Ltd., is a regional
airline operating as an independent carrier and as a code share
partner with United Air Lines, Inc., and Frontier Airlines, Inc.
As of Aug. 11, 2011, the Company served 42 airports in 11 states
with a fleet of six Embraer EMB-120 Brasilia and 32
Raytheon/Beechcraft 1900D regional airliners.


GRUBB & ELLIS: Incurs $14.7 Million Second Quarter Net Loss
-----------------------------------------------------------
Grubb & Ellis Company filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, reporting a net loss
of $14.71 million on $137.95 million of total revenue for the
three months ended June 30, 2011, compared with a net loss of
$19.19 million on $127.06 million of total revenue for the same
period during the prior year.

The Company also reported a net loss of $33.40 million on
$250.21 million of total revenue for the six months ended June 30,
2011, compared with a net loss of $43.24 million on $243.36
million of total revenue for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed
$263.50 million in total assets, $264.48 million in total
liabilities, $95.87 million in preferred stock, and a
$96.85 million total deficit.

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

                       http://is.gd/JyVpnF

                   About Grubb & Ellis Company

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

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


HILLSIDE VALLEY: Withdraws Emergency Motion for $6.5-Mil Financing
------------------------------------------------------------------
Hillside Valley, L.P., has withdrawn its emergency motion for
entry of an order authorizing the Debtor to obtain post-petition
financing, filed Aug. 5, 2011.  No other details were provided.

In the August 5 motion [Docket No. 33] the Debtor had sought
permission to obtain post-petition financing pursuant to Section
364 of the Bankruptcy Code from proposed lender Hudson Realty
Capital LLC in the amount of up to $6,500,000.

Some of the significant elements of the DIP funding are:

Borrower/Debtor    : Hillside Valley, L.P.

Loan Amount        : Up to $6,500,000.

Collateral         : The Financing will be secured by, among other
                     things, a first priority priming lien and
                     super-priority claim on substantially all of
                     the Debtors' assets.

Base Interest Rate : 13.5% (10% current pay and 3.5% accrual).

Closing Fee        : 2% of the total Loan Amount, which fee will '
                     be non-refundable, earned and payable upon
                     the Closing.

Term               : Earlier of 12 months or the occurrence of a
                     Termination Event.

Watchung, New Jersey-based Hillside Valley, L.P., has developed a
200 unit, 200,000 sq. ft., 10 building luxury apartment complex
located at 301-359 River Rd, Allentown, Pennsylvania.  The complex
is approximately 80% completed.  Approximately 13 apartments have
been rented.  One building is completed and four more are
substantially completed with the remaining five buildings in
various stages of completion.

The Company filed for Chapter 11 protection (Bankr. E.D. Penn.
Case No. 11-21689) on June 23, 2011.  Bankruptcy Judge Richard E.
Fehling presides over the case.  Douglas J. Smillie, Esq., at
Fitzpatrick Lentz & Bubba, P.C., represents the Debtor as counsel.
The Debtor estimated assets and debts at $10 million to $50
million.

A state-court appointed receiver has been maintained in place to
collect rents, and otherwise fulfill the obligations of the
receiver pursuant to the state court order appointing said
receiver, as modified by Stipulation and Order entered in the
Bankruptcy Court.


HOLLIFIELD RANCHES: Plan Outline Hearing Continued Until Aug. 31
----------------------------------------------------------------
The Hon. Jim D. Pappas of the U.S. Bankruptcy Court for the
District of Idaho approved a stipulation continuing until Aug. 31,
2011, at 1:30 p.m., the hearing to consider the Disclosure
Statement explaining Hollifield Ranches, Inc.'s Plan of
Reorganization.  Objections, if any, are due Aug. 19.

The hearing was previously set for Aug. 10.

The Debtor told the Court that it needed more time to  negotiate
with Keybank regarding discovery, disclosure statement, and
confirmation matters.

The stipulation was entered among the Debtor, creditors KeyBank
National Association, and Metropolitan Life Insurance Company.

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 Plan provides that
priority claims will be paid in full; secured debts will be paid
to the extent of their values; unsecured debts will be paid (in a
fair and equitable manner) to the extent the unsecured property of
the estate reaches to those creditors or that the cash flow
allows, and other properties will be disbursed and addressed.

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

                   About Hollifield Ranches, Inc.

Hansen, Idaho-based Hollifield Ranches, Inc., filed for Chapter 11
bankruptcy protection on September 9, 2010 (Bankr. D. Idaho Case
No. 10-41613).  Brent T. Robinson, Esq., in Rupert, Idaho,
represents the Debtor.  The Debtor estimated assets and debts at
$10 million to $50 million as of the Chapter 11 filing.

Robert D. Miller, Jr. ,the United States Trustee for Region 18,
has appointed three creditors to serve as members of the Unsecured
Creditors' Committee in the Chapter 11 case of Hollifield Ranches,
Inc.  J. Justin May, Esq., at May, Browning & May represents the
Official Committee of Unsecured Creditors.


HORIZON LINES: Subscription Deadline Expired Aug. 19
----------------------------------------------------
Horizon Lines, Inc., entered into a seventh amendment with certain
holders of a majority of its unsecured 4.25% convertible senior
notes due 2012, to the previously announced Restructuring Support
Agreement, dated June 1, 2011, as amended.  The Amendment was
entered into to extend, from Aug. 12, 2011, to Aug. 19, 2011, (i)
the deadline by which the Company is to receive subscription
commitments from the Exchanging Holders and (ii) the Exchanging
Holders' and the Company's continued support for the
recapitalization and to allow the parties to discuss certain
modifications to the terms of the recapitalization.


                        About Horizon Lines

Charlotte, N.C.-based Horizon Lines, Inc. (NYSE: HRZ) is the
nation's leading domestic ocean shipping and integrated logistics
company.  The Company owns or leases a fleet of 20 U.S.-flag
containerships and operates five port terminals linking the
continental United States with Alaska, Hawaii, Guam, Micronesia
and Puerto Rico.  The Company provides express trans-Pacific
service between the U.S. West Coast and the ports of Ningbo and
Shanghai in China, manages a domestic and overseas service partner
network and provides integrated, reliable and cost competitive
logistics solutions.

The Company's balance sheet at June 26, 2011, showed
$794.96 million in total assets, $793.45 million in total
liabilities, and and a stockholders' deficit of $1.51 million.

The Company expects to experience a covenant breach under the
Senior Credit Facility in connection with the amended financial
covenants upon the close of the third fiscal quarter of 2011.

As reported in the TCR on March 30, 2011, Ernst & Young LLP, in
Charlotte, North Carolina, expressed substantial doubt Horizon
Lines' ability to continue as a going concern, following the
Company's results for the fiscal year ended Dec. 26, 2010.  The
independent auditors noted that there is uncertainty that Horizon
Lines will remain in compliance with certain debt covenants
throughout 2011 and will be able to cure the acceleration clause
contained in the convertible notes.


IMH FINANCIAL: Incurs $6.8 Million Net Loss in Second Quarter
-------------------------------------------------------------
IMH Financial Corporation filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q reporting a
net loss of $6.87 million on $881,000 of total revenue for the
three months ended June 30, 2011, compared with a net loss of
$42.19 million on $935,000 of total revenue for the same period a
year ago.

The Company also reported a net loss of $12.28 million on $1.90
million of total revenue for the six months ended June 30, 2011,
compared with a net loss of $45.04 million on $1.94 million of
total revenue for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $264.97
million in total assets, $76.15 million in total liabilities and
$188.82 million in total stockholders' equity.

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

                        http://is.gd/WGGK26

                        About IMH Financial

Scottsdale, Ariz.-based IMH Financial Corporation was formed from
the conversion of IMH Secured Loan Fund, LLC, or the Fund, a
Delaware limited liability company, on June 18, 2010.  The
conversion was effected following a consent solicitation process
pursuant to which approval was obtained from a majority of the
members of the Fund to effect the Conversion Transactions and
involved (i) the conversion of the Fund from a Delaware limited
liability company into a Delaware corporation named IMH Financial
Corporation, and (ii) the acquisition by the Company of all of the
outstanding shares of the manager of the Fund Investors Mortgage
Holdings Inc., or the Manager, as well as all of the outstanding
membership interests of a related entity, IMH Holdings LLC, or
Holdings on June 18, 2010.

The Company is a commercial real estate lender based in the
southwest United States with over 12 years of experience in many
facets of the real estate investment process, including
origination, underwriting, documentation, servicing, construction,
enforcement, development, marketing, and disposition.  The Company
focuses on a niche segment of the real estate market that it
believes is underserved by community, regional and national banks:
high yield, short-term, senior secured real estate mortgage loans.
The intense level of underwriting analysis required in this
segment necessitates personnel and expertise that many community
banks lack, yet the requisite localized market knowledge of the
underwriting process and the size of the loans the Company seeks
often precludes the regional and community banks from efficiently
entering this market.

"Given the current state of the real estate and credit markets, we
believe the realization of full recovery of the cost basis in our
assets is unlikely to occur in a reasonable time frame and may not
occur at all, and we may be required to liquidate portions of our
assets for liquidity purposes at a price significantly below the
initial cost basis or potentially below current carrying values.
If we are not able to liquidate a sufficient portion of our assets
or access credit under the credit facility currently under
negotiation, there may be substantial doubt about our ability to
continue as a going concern. Nevertheless, we believe that our
cash and cash equivalents, coupled with liquidity derived from the
credit facility currently under negotiation and the disposition of
certain of the loans and real estate held for sale, will allow us
to fund current operations over the next 12 months," the Company
said in its Form 10-Q for the quarter ended Sept. 30, 2010.

The Company reported a net loss of $117.04 million on
$3.75 million of total revenue for the year ended Dec. 31, 2010,
compared with a net loss of $74.47 million on $22.52 million of
total revenue during the prior year.

As reported by the TCR on April 20, 2011, BDO USA, LLP, in
Phoenix, Arizona, 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 and is not
currently generating sufficient cash flows to sustain operations


INDYMAC BANCORP: Insurers Fight Coverage for $355MM Theft
---------------------------------------------------------
Lisa Uhlman at Bankruptcy Law360 reports that a group of insurers
fired back Tuesday at the bankruptcy trustee for IndyMac Bancorp
Inc., seeking to dismiss his claims that they owe insurance
payouts for the executives who allegedly helped steal $355 million
from the bank.

Law360 relates that Chapter 11 trustee Alfred H. Siegel filed the
adversary suit in February seeking a determination of the coverage
the insurers owe in relation to an earlier suit he filed against
IndyMac's individual directors over the alleged misappropriation.

                          About Indymac

Based in Pasadena, California, IndyMac Bancorp Inc. (NYSE:IMB) --
http://www.indymacbank.com/-- was the holding company for IndyMac
Bank FSB, a hybrid thrift/mortgage bank that originated mortgages
in all 50 states of the United States.

On July 11, 2008, the Office of Thrift Supervision closed IndyMac
Bank and appointed FDIC as the bank's receiver.  Thacher Proffitt
& Wood LLP was engaged as counsel to the FDIC.

All non-brokered insured deposit accounts and substantially all of
the assets of the bank were transferred to IndyMac Federal Bank,
F.S.B., Pasadena, CA, a newly chartered full-service FDIC-insured
institution.  On March 19, IndyMac Federal Bank was sold to
OneWest Bank, F.S.B., Pasadena, California. OneWest Bank, FSB is a
newly formed federal savings bank organized by IMB HoldCo LLC.

Indymac Bancorp filed for Chapter 7 bankruptcy protection on
July 31, 2008 (Bankr. C.D.Calif., Case No. 08-21752).
Representing the Debtor are Dean G. Rallis, Jr., Esq., and John C.
Weitnauer, Esq.  Indymac had about $32.01 billion in assets as of
July 11, 2008.  In court documents, IndyMac disclosed estimated
assets of $50 million to $100 million and estimated debts of $100
million to $500 million.


J.B. POINDEXTER: Moody's Upgrades Corp. Family Rating to 'B2'
-------------------------------------------------------------
Moody's Investors Service upgraded J.B. Poindexter & Co., Inc.'s
Corporate Family and Probability of Default ratings to B2 from B3.
The company's existing 8.75% senior unsecured notes due March 2014
were also upgraded to B3 from Caa1. The company's short-term
speculative grade liquidity rating was affirmed at SGL-3. The
rating outlook is stable.

These ratings/assessments have been affected:

Corporate Family Rating, upgraded to B2 from B3;

Probability of Default Rating, upgraded to B2 from B3;

$200 million senior unsecured notes due March 2014, upgraded to B3
(LGD4, 63%) from Caa1 (LGD4, 62%);

Speculative Grade Liquidity Rating, affirmed at SGL-3.

The outlook remains stable.

RATINGS RATIONALE

The rating upgrade to a B2 CFR reflects Moody's expectations for
continued improvement in operational and financial performance, as
well as liquidity at J.B. Poindexter. The rating action also
recognizes significant increases in backlog especially at the
company's Morgan, Morgan Olson, and Specialty Manufacturing
segments, and the generally better outlook for class 5-7 truck
sales for 2011 and 2012. J.B. Poindexter has been able to reduce
its debt leverage (on a Moody's adjusted basis) from over 7 times
at its recent recession-era peak at March 31, 2010 to closer to 5
times at the most recent quarter ended June 30, 2011. Moody's
expects leverage to further decline under 5 times over the near
term. Moody's also expect interest coverage to improve above 1.5x
EBIT-to-Interest and free cash flow to remain positive over the
intermediate term.

The stable outlook assumes that continued improvement in
production volumes across major end markets and robust backlogs
will result in improved credit metrics for the company. The
outlook further anticipates that J.B. Poindexter will maintain a
good liquidity profile (including a healthy cash balance) and will
not pursue leveraging transactions.

An additional near-term ratings upgrade is unlikely. However,
Moody's could consider a positive action with expectations for
leverage to be sustained below 4.0x debt-to-EBITDA and interest
coverage in excess of 2.5x EBIT-to-interest. Absent permanent debt
reduction, a rating upgrade would also likely require progress
towards integrating existing businesses and improving through-the-
cycle profitability above and beyond any positive cyclical effects
from higher vehicle production. Moody's could consider a negative
action with expectations for leverage in excess of 6.0x debt-to-
EBITDA, interest coverage below 1.0x EBIT-to-interest, or if the
company experienced a deterioration in its liquidity position.
Moody's could also consider a negative action if J.B. Poindexter
pursues leveraging transaction or adopts a more aggressive
financial philosophy.

The principal methodology used in rating J.B. Poindexter & Co.,
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.

J.B. Poindexter & Co., Inc., headquartered in Houston, Texas,
manufactures commercial truck bodies for medium-duty trucks,
pickup truck caps and tonneau covers, truck bodies for walk-in
step vans, funeral coaches, limousines and specialized buses,
provides contract manufacturing services for precision metal parts
and machining and casting services. J.B. Poindexter's revenue for
the LTM period ended June 30, 2011 was approximately $613 million.


JACKSON GREEN: Stipulates With Lender on Use of Cash Collateral
---------------------------------------------------------------
The Hon. Thomas S. Utschig of the U.S. Bankruptcy Court for the
Western District of Wisconsin has approved a stipulation between
Jackson Green LLC and Wells Fargo Bank, N.A., as trustee for the
registered Holders of Credit Suisse First Boston Mortgage
Securities Corp., Commercial Mortgage Pass-Through Certificates,
Series 2006-C4, on the Debtor's use of cash collateral.

The terms of the stipulation are:

     1. The Debtor will have the right to use cash collateral to
        pay ordinary and customary operating expenses in the
        normal course excluding any payments directly for the
        benefit of David and Paula Heyes or their management
        company until the court hearing scheduled for Sept. 21,
        2011, at 11:00 a.m.

     2. The Debtor will promptly pay $3,230 to the escrow for
        insurance, and will maintain insurance on the property in
        the future, starting on July 20, 2011.

     3. The Debtor will make a monthly payment of $43,400 into an
        escrow account to pay the real estate taxes, starting on
        July 20, 2011.

     4. The Debtor will pay the bank $78,370 per month for
        adequate protection, with the first monthly payment due
        July 20, 2011.

                        About Jackson Green

Based in Minocqua, Wisconsin, Jackson Green LLC owns a commercial
office building and parking lot in Chicago.  Jackson Green
originally filed for Chapter 11 bankruptcy (Bankr. W.D. Wis. Case
No. 09-10099) on Jan. 9, 2009.  The Court confirmed the Debtor's
chapter 11 plan on May 18, 2010.

Jackson Green returned to bankruptcy (Bankr. W.D. Wis. Case No.
11-14038) on June 23, 2011.  Judge Thomas S. Utschig presides over
the so-called Chapter 22 case.  The Law Office of Terrence J.
Byrne serves as the Debtor's Chapter 22 counsel.

In its schedules, the Debtor disclosed $25,194,530 in assets and
$22,838,968 in liabilities.  The petition was signed by Paula
Heyes, member.

Secured lender Wells Fargo is represented by lawyers at Foley &
Lardner LLP.


JIM SLEMONS HAWAII: Court Declines to Review Disqualification Bid
-----------------------------------------------------------------
Bankruptcy Judge Lloyd King denied Continental Investment Co.
Ltd.'s 270-page motion, including exhibits, asking the Court to
reconsider the order denying Jim Slemons Hawaii, Inc.'s motion to
disqualify the bankruptcy judge.  Continental seeks clarification
of certain language contained in the Memorandum Concerning the
Debtor's Motion to Disqualify United States Bankruptcy Judge.
Continental contends that there is no discrepancy between
statements made by the parties and comments of Judge Faris at a
hearing on Oct. 19, 2009, and the resulting Order Regarding
Continental Investment Company, Ltd.'s Motion for Order Re: Timely
Payment of Post-Petition Rent.  Continental requests the Court to
enter an amended memorandum revising all language which indicates
the existence of those discrepancies.  Judge King said the issue
before the court was whether or not to disqualify the presiding
bankruptcy judge, not the Debtor's claim of a discrepancy between
the judge's verbal ruling at the hearing on Oct. 19, 2009, and the
written order, prepared by counsel for Continental, that resulted
from that hearing.  Counsel for Continental was given at least
three opportunities to explain why the written order seems to
differ from the judge's instructions, but offered no persuasive
argument that there was, in fact, no discrepancy.  The motion to
disqualify the presiding bankruptcy judge has been denied, even
with the assumption of a discrepancy.  The ruling on the motion to
disqualify would not change in the event of a determination that
there is no discrepancy, Judge King said.  A copy of Judge King's
Aug. 18, 2011 Memorandum is available at http://is.gd/vNm30Tfrom
Leagle.com.

The ruling denying the Debtor's second bid to disqualify the judge
was published in the Aug. 8 edition of the Troubled Company
Reporter.  The motion arises from apparent inconsistencies between
a verbal ruling by the judge and the entered order, which resulted
from the verbal ruling.  It is alleged that the judge, counsel for
a Debtor's lessor, Continental Investment Company, Ltd., and the
Assistant United States Trustee are part of an 'old boy network'
and therefore biased against the Debtor's counsel.  They are
alleged to have cooperated or conspired to allow the lessor to
'steal' a valuable leasehold estate of the Debtor.

                     About Jim Slemons Hawaii

Ewa Beach, Hawaii-based Jim Slemons Hawaii, Inc., filed for
Chapter 11 bankruptcy protection (Bankr. D. Hawaii Case No.
09-01802) on Aug. 10, 2009, listing $750,000 in total assets and
$229,098 in total debts.  The Chapter 11 case was dismissed by
order entered on July 13, 2010.  However, it remains open to
address unresolved matters, including the disposition of funds
once held in a trust account maintained by the Debtor's counsel,
Anthony P. Locricchio, Esq.

Lessor Continental Investment Company is represented by Jerrold K.
Guben, Esq. -- jkg@opglaw.com -- at O'Connor Playdon & Guben LLP.


JOE ALEXANDER: Barred From Pursuing Legal Malpractice Claim
-----------------------------------------------------------
Bankruptcy Judge Joan A. Lloyd denied the request of Joe S.
Alexander to compel Mark Flener, the Chapter 7 trustee in his
case, to file an adversary proceeding against Mr. Alexander's
former attorney Scott Bachert for legal malpractice.  The Debtor
alleges that from June 6, 2006 through Nov. 28, 2008, the Chapter
7 Trustee became aware of concealed pre-petition financial
transactions by Mr. Bachert involving the Debtor.  The Debtor
contends that the automatic stay should not have been terminated
and that the Chapter 7 Trustee should have pursued the matter
against Mr. Bachert.  The Debtor claims that on or about Oct. 7,
2007, the Debtor advised the Chapter 7 Trustee fully of potential
malpractice claims against Mr. Bachert, but that the Chapter 7
Trustee abandoned such claims in 2008.

According to Judge Lloyd, the record of the Debtor's case clearly
demonstrates that the Debtor had an opportunity to pursue his
alleged malpractice claim against Mr. Bachert, that he had an
opportunity to object to the Chapter 7 Trustee's abandonment of
the claim and that he failed to diligently pursue his legal
options.  This claim is now barred as a matter of law.  A copy of
Judge Lloyd's Aug. 17, 2011 Memorandum-Opinion is available at
http://is.gd/ItRuwafrom Leagle.com.

In 2006, Mr. Alexander was named as a Defendant in a civil action
in Barren Circuit Court filed by Mammoth Medical, Inc.  The Debtor
consulted with and retained Mr. Bachert regarding legal
representation and bankruptcy advise in an effort to stay the
Barren Circuit Court civil action and to deal with tax issues and
pending financial matters.  On April 17, 2006, Mr. Bachert filed a
petition (Bankr. W.D. Ky. Case No. 06-10238) on behalf of the
Debtor seeking relief under Chapter 13 of the Bankruptcy Code.
The civil matter pending in the Barren Circuit Court was stayed by
the filing of the Voluntary Petition pursuant to 11 U.S.C. Sec.
362.  On April 27, 2006, the Debtor's case was converted from a
Chapter 13 proceeding to one under Chapter 11 of the Bankruptcy
Code.  On June 16, 2006, the Court granted the Debtor's request to
convert his Chapter 11 case to one under Chapter 7 of the
Bankruptcy Code.  Mark Flener was appointed as Chapter 7 Trustee.


KINETIC CONCEPTS: Moody's Assigns 'B2' Corporate Family Rating
--------------------------------------------------------------
Moody's Investors Service has assigned Corporate Family (CFR) and
Probability of Default Ratings of B2 in connection with a proposed
LBO of Kinetic Concepts, Inc. (KCI). Concurrently, a Ba3 rating
was assigned to a new first lien credit facility. The ratings
outlook is stable.

On July 13, 2011, a consortium of funds including Apax Partners
and controlled affiliates of Canada Pension Plan Investment Board
and Public Sector Pension Investment Board announced that they had
entered into a definitive agreement to acquire KCI through
acquisition vehicle Chiron Merger Sub, Inc. (Chiron) in a
transaction valued at $6.3 billion before costs and expenses.
Chiron intends to fund the transaction with cash on hand at KCI, a
$1.75 billion equity contribution, a $2.6 billion senior secured
term loan and $2.15 billion in committed bridge loans (unrated). A
$200 million senior secured revolver is expected to be undrawn at
closing.

The merger agreement provides for a 40-day "go shop" period
(expires on August 21) during which KCI may seek to solicit a
higher purchase price from other bidders. The transaction is
expected to close in the fourth quarter of 2011, subject to
customary closing conditions including approval by KCI's
shareholders and regulatory clearance. Upon consummation of the
transaction, Chiron will merge with and into KCI.

Ratings assigned to Chiron Merger Sub, Inc.:

Corporate Family Rating, B2

Probability of Default Rating, B2

Proposed $2.6 billion first lien term loan due 2018, Ba3 (LGD2,
26%)

Proposed $200 million first lien revolver due 2016, Ba3 (LGD2,
26%)

Existing ratings of KCI will be withdrawn upon closing of the
transaction and ensuing repayment of outstanding debt obligations.
The new ratings are subject to successful completion of the
proposed transaction and Moody's review of final documentation.

RATINGS RATIONALE

The B2 CFR reflects high financial leverage (debt / EBITDA) and
modest interest coverage on a pro forma basis, despite KCI's
relatively strong profitability margins and good near-term
liquidity profile. The transaction will add about $3.5 billion of
incremental debt to the capital structure, raising financial
leverage to approximately 6.7 times using Moody's standard
adjustments. Additionally, KCI faces product concentration risk,
declining revenues in the therapeutic support systems segment, and
risks associated with increasing competitive and reimbursement
pressures for the Vacuum Assisted Closure (V.A.C.) franchise,
which comprises about 70% of the company's revenues. The ratings
benefit from KCI's considerable scale and the proven clinical
efficacy of the V.A.C. product for use in intractable wounds, and
the large addressable markets of KCI's wound care and regenerative
medicine products.

"While KCI benefits from market leadership in the wound care
industry and a growing presence in the regenerative medicine
market through increased penetration of biologics products,
operating results may become pressured by competitive forces in
the next few years," said Moody's Assistant Vice President Suzanne
Wingo. "For example, uncertainties exist in Medicare's Round II
Competitive Bidding process and the potential inclusion of
Negative Pressure Wound Therapy products in 2013. A highly levered
capital structure does not provide much cushion against potential
shortfalls in earnings and limits financial flexibility."

The stable ratings outlook incorporates modest competitive and
pricing pressure on V.A.C. products, partially offset by
anticipated volume growth from new product introductions and
international expansion. Given reimbursement uncertainties,
competitive pressures and KCI's high financial leverage, Moody's
does not anticipate a ratings upgrade in the near-term. However,
Moody's could upgrade the ratings if more clarity arises within
the reimbursement environment and KCI were to diversify its
product base, achieve consolidated organic revenue growth,
maintain gross margins, and reduce debt such that financial
leverage were to fall below 5.5 times and free cash flow to debt
were to exceed 5%, both on a sustained basis. Moody's could
downgrade the ratings if competitive or pricing/reimbursement
pressures resulted in material top-line deterioration or margin
contraction such that financial leverage was not maintained below
6.5 times or if free cash flow to debt were to turn negative for
two or more quarters.

The principal methodologies used in this rating were Global
Medical Products & Device Industry published in October 2009, and
Loss Given Default for Speculative-Grade Non-Financial Companies
in the U.S., Canada and EMEA published in June 2009.

Kinetic Concepts, Inc., headquartered in San Antonio, Texas, is a
global medical technology company with leadership positions in
advanced wound care, regenerative medicine and therapeutic support
systems (i.e., medical beds). The company's advanced wound care
systems incorporate proprietary V.A.C. technology. KCI reported
revenues of approximately $2.1 billion for the twelve months ended
June 30, 2011.


KNOWLEDGEFUNDING OHIO: Moody's Revises August 16 Release
--------------------------------------------------------
Moody's Investors Service downgraded six classes of senior tax-
exempt student loan-backed bonds issued by KnowledgeFunding Ohio,
Inc. under a Master Indenture established as of December 1st 2005.
The underlying collateral includes a pool of Federal Family
Education Loan Program (FFELP) student loans that are guaranteed
by the Department of Education.

RATINGS:

The complete actions are:

Issuer: KnowledgeFunding Ohio, Inc. (2005 Indenture)

2005A-1, Downgraded to Caa3; previously on July 9, 2010 Baa1
Placed Under Review for Possible Downgrade

2005A-2, Downgraded to Caa3; previously on July 9, 2010 Baa1
Placed Under Review for Possible Downgrade

2005A-3, Downgraded to Caa3; previously on July 9, 2010 Baa1
Placed Under Review for Possible Downgrade

2006A-1, Downgraded to Caa3; previously on July 9, 2010 Baa1
Placed Under Review for Possible Downgrade

2006A-2, Downgraded to Caa3; previously on July 9, 2010 Baa1
Placed Under Review for Possible Downgrade

2006A-3, Downgraded to Caa3; previously on July 9, 2010 Baa1
Placed Under Review for Possible Downgrade

RATINGS RATIONALE

The downgrades are caused by an erosion of excess spread due to
the failed auction rate market. Since the collapse of the auction
rate market in the beginning 2008, the coupon rates on these bonds
have been reset to a "failed-auction" rate, which increases (among
other things) if the ratings of the bonds fall below Baa. Because
we are downgrading the bonds below the trigger levels, their
coupon rates increase to the lesser of a) 265% times the higher of
the after-tax equivalent rate (defined as a product of (i) the
financial commercial paper rate, and (ii) one minus the corporate
tax rate), and the BMA index, and b) 14%. The higher coupon rates
will further erode excess spread in the future, which will, in
turn, have a significant negative effect on the parity levels and
expose the deal to a significant default risk. Moody's expects the
deal to continue generating negative excess spread, which
indicates that the interest paid on the student loan collateral
does not cover the interest on the bonds plus the fees.

The current total parity (a ratio of total assets plus escrow fund
to total liabilities) has remained at approximately 97% over the
past year. We expect the deal will continue to experience
difficulty in building up parity due to the negative excess spread
discussed above.

The performance expectations for a given variable indicate Moody's
forward-looking view of the likely range of performance over the
medium term. From time to time, Moody's may, if warranted, change
these expectations. Performance that falls outside the given range
may indicate that the collateral's credit quality is stronger or
weaker than Moody's had anticipated when the related securities
ratings were issued. Even so, a deviation from the expected range
will not necessarily result in a rating action nor does
performance within expectations preclude such actions. The
decision to take (or not take) a rating action is dependent on an
assessment of a range of factors including, but not exclusively,
the performance metrics. Primary sources of uncertainty with
regard to excess spread are increased basis risk. Ratings on Class
A would not be upgraded if spread between LIBOR and the financial
CP is 10 bps lower, or downgraded if the spread is 10 bps higher.

To assess rating implications of the higher expected losses, each
individual transaction was run through a variety of stress
scenarios using the Structured Finance Workstation(R) (SFW), a
cash flow model developed by Moody's Wall Street Analytics.

In monitoring securitizations backed by student loans Moody's
evaluates operational and transaction governance risks introduced
by nonperformance of various transaction parties, in addition to
assessing liquidity and credit risks. The adherence of the
transaction parties to legal agreements governing securitization
transactions is the essential element of assuring that noteholders
receive the timely payments of interest and ultimate repayment of
their principal investments. Moody's monitors compliance with
covenants and other legal provisions of the transaction documents.

In addition, Moody's assesses both liquidity and credit risks of
the student loan transactions. The factors affecting liquidity and
credit performance of a transaction include defaults, guarantor
reject rates, voluntary prepayments, basis risk, borrower benefit
utilization, and the number of borrowers in non-repayment status,
such as deferment and forbearance. As a part of Moody's analysis,
we examine historical FFELP static pool performance data. To the
extent that performance data is available from a specific issuer,
that information is used to arrive at Moody's cash flow
assumptions for that particular issuer. If an issuer's data are
either limited or unavailable, Moody's assumptions are based on
FFELP performance data received from other participants.

Historical interest rates and spreads are also analyzed to
evaluate the basis risk between the interest rate to which the
notes are indexed and the interest rate to which the FFELP loans
are indexed. This historical data is used to derive at expected,
or most likely, outcome for each variable. These expected
defaults, prepayments, interest rates, and other assumptions are
then stressed in accordance with the rating categories requested
by the issuer. Factors that influence the stress levels include
the availability of relevant issuer-specific performance data, the
seasoning of the loans, collateral concentrations (school types,
loan programs), the financial strength and stability of the
servicer, and the general economic environment.

These stressed assumptions are then incorporated into a cash flow
model that takes into account the FFELP loan characteristics as
well as structural (e.g., starting parity, cash flow waterfall,
bond tranching, etc.) and pricing features of the transaction. The
cash flow model outputs are analyzed to determine whether the
transaction as structured by the issuer has sufficient credit
protection to pay off the notes by their legal final maturity
dates. In certain circumstances where cash flow runs are not
available, we rely on model results from similar transactions. We
also analyze the liquidity risk of the transaction given that
borrowers can be in non-repayment status while in school, grace,
deferment or forbearance status, and the transaction can
experience delays in default reimbursement and other payments.
Basis risk is the primary credit risk in FFELP student loan ABS.
Moody's Aaa stressed basis risk assumption between LIBOR and the
CP Rate is 25 basis points with certain periods in which the
spread increases to 150 basis points. This is based on an analysis
of historical spreads between the two indices. For additional
information, please see "Methodology Update on Basis Risk in FFELP
Student Loan-Backed Securitization," on moodys.com. Other
methodologies and factors that may have been considered in the
process of rating this issue can also be found in the Rating
Methodologies sub-directory on Moody's website.


KZMSS AGAIN: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: KZMSS Again, LLLP
        dba TLC Outpatient Surgery Center
        201 West Guava Street
        Lady Lake, FL 32159

Bankruptcy Case No.: 11-12388

Chapter 11 Petition Date: August 15, 2011

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

Debtor's Counsel: Jimmy D. Parrish, Esq.
                  BAKER & HOSTETLER LLP
                  200 S Orange Avenue
                  SunTrust Center - Suite 2300
                  Orlando, FL 32801
                  Tel: (407) 649-4000
                  Fax: (407) 841-0168
                  E-mail: jparrish@bakerlaw.com

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

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/flmb11-12388.pdf

The petition was signed by Jeffrey Mandume Kerina, general
partner, secretary-treasurer.


LA VILLITA: Can Access Cash Collateral of Trust Until Aug. 31
-------------------------------------------------------------
On Aug. 1, 2011, the U.S. Bankruptcy Court for the Western
District of Texas, San Antonio Division, entered a sixth interim
order granting La Villita Motor Inns, J.V., authority to use cash
collateral of the Trust, during the period from Aug. 1, 2011,
through Aug. 31, 2011, solely in accordance with a rolling 30-day
budget.

As adequate protection, the Trust, or GS Mortgage Securities
Corporation II, Commercial Mortgage Pass-Through Certificates,
Series 1999-C1, is granted post-petition liens upon: (i) all
existing assets and property interests of the Debtor; and (ii) all
after-acquired property of the estate of the type comprising the
pre-petition collateral and with to the same order of priority as
that for the pre-petition liens.

The Debtor will provide ORIX Capital Markets LLC (as special
servicer for U.S. Bank National Association, Trustee for the
Trust), with monthly reports reflecting (i) monthly income and
expenses, (ii) monthly operating reports and financial statements;
(iii) actual disbursements made during each such month; (iv)
confirmation of insurance coverage and Property Tax Escrow
deposits; and (v) occupancy reports.

In addition, on Aug. 1, 2011, the Debtor will pay ORIX the sum of
$38,331.32 as adequate protection for the alleged secured claim
filed by ORIX.

Counsel for ORIX may be reached at:

     Jay H. Ong, Esq.
     MUNSCH HARDT KOPF & HARR, P.C.
     401 Congress Avenue, Suite 3050
     Austin, TX 78701
     Fax: (512) 391-6149
     E-mail: jong@munsch.com

                  About La Villita Motor Inns JV

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


LAUGH OUT: Case Summary & 9 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: Laugh Out Loud Stations, LLC
        dba LOL Stations
        3241 Plaza Way
        Waldorf, MD 20603

Bankruptcy Case No.: 11-26638

Chapter 11 Petition Date: August 14, 2011

Court: United States Bankruptcy Court
       District of Maryland (Greenbelt)

Judge: Paul Mannes

Debtor's Counsel: Rowena Nicole Nelson, Esq.
                  LAW OFFICE OF ROWENA N. NELSON & ASSOC.
                  1801 McCormick Drive, Suite 150
                  Largo, MD 20774
                  Tel: (301) 358-3348
                  Fax: (877) 728-7744
                  E-mail: rnelson@rnnlawmd.com

Scheduled Assets: $2,650,738

Scheduled Debts: $591,757

A list of the Company's nine largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/mdb11-26638.pdf

The petition was signed by Regina Bethea, chief managing member.


LAXMI REALTY: Case Summary & 19 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Laxmi Realty, Inc.
        333 S Federal Hwy
        Dania, FL 33004

Bankruptcy Case No.: 11-32840

Chapter 11 Petition Date: August 16, 2011

Court: United States Bankruptcy Court
       Southern District of Florida (Fort Lauderdale)

Judge: Raymond B. Ray

Debtor's Counsel: Ronald Lewis, Esq.
                  BEARDEN, LEWIS & THOMAS, LLP
                  445 E Palmetto Park Rd
                  Boca Raton, FL 33432
                  Tel: (561) 368-7474
                  Fax: (561) 368-0293
                  E-mail: rlewis@beltlawyers.com

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

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

A list of the Company's 19 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/flsb11-32840.pdf

The petition was signed by Anil B. Patel, president.


LEED CORP: Taps Maynes Taggart PLLC as Bankruptcy Counsel
---------------------------------------------------------
The Leed Corporation asks the U.S. Bankruptcy Court for the
District of Idaho for permission to employ Robert J. Maynes and
Steven L. Taggart of Maynes Taggart PLLC as counsels.

The Debtor related that the Court has approved the employment of
Mr. Maynes as its counsel, however,  Mr. Maynes, and Mr. Taggart,
formed the firm of Maynes Taggart PLLC.  Given the size and
complexity of Debtor's case, the Debtor desires to engage the
services of both Messrs. Maynes and Taggart of Maynes Taggart
PLLC.

As counsels, Messrs. Maynes and Taggart will, among other things:

   a. give the Debtor legal advice with respect to his powers and
   duties under Chapter 11;

   b. take the necessary action to avoid liens as required, and
   assist the Debtor in performing his other statutory duties; and

   c. prepare on behalf of your applicant all necessary
   applications, answers, orders, reports, and any other legal
   papers required by the Court.

The hourly rates of the firms' personnel are:

          Mr. Maynes                $180
          Mr. Taggart               $170
          Staff                      $75

To the best of Debtor's knowledge, Messrs. Maynes and Taggart are
"disinterested persons" as that term is defined in Section 101(14)
of the Bankruptcy Code.

                    About The Leed Corporation

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

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


LEED CORP: Committee Seeks to Retain C. Jorgensen as Attorney
-------------------------------------------------------------
The Official Committee of Unsecured Creditors of The Leed
Corporation seeks to retain Craig R. Jorgensen, Esq. as its
attorney.

Mr. Jorgensen will:

     * give the Creditors' Committee legal advice with respect to
       its duties and powers in this case;

     * assist the Creditors' Committee in its investigation of
       the acts, conduct, assets, liabilities, and financial
       condition of the Debtor, the operation of the Debtor's
       business, investigation of the activities of the other
       creditors, and any other matter relevant to the case;

     * participate with the Creditors' Committee in matters
       relating to the Debtor's plan of reorganization;

     * assist the Creditors' Committee in requesting the
       appointment of a trustee or examiner, should it become
       necessary;

     * assist the Creditors' Committee in responding to subpoenas
       served on committee members; and

     * perform other legal services as may be required and in the
       interest of the Creditors' Committee.

Mr. Jorgensen will be paid at a rate of $185 per hour plus costs
incurred.  He can be reached at:

          Craig R. Jorgensen
          Attorney at Law
          602 S. 5th
          PO Box 4904
          Pocatello, Idaho 83205-4904
          Tel: 208-237-4100
          Fax: 208-232-8867

                    About The Leed Corporation

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

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


LEHMAN BROTHERS: Wins Approval of Claims Determination Process
--------------------------------------------------------------
U.S. Bankruptcy Judge James Peck authorized Lehman Brothers
Holdings Inc. to implement a process to determine the allowed
amount of claims filed against the company and its affiliated
debtors for the purpose of voting and distribution under their
proposed Chapter 11 plan.

The claims totaling $55 billion are all based on structured
securities either issued or guaranteed by LBHI.

A full-text copy of the court order detailing the process is
available for free at:

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

Lehman Brothers sought court approval anew to implement a process
to determine the allowed amount of more than 21,000 proofs of
claim for the purpose of voting and distribution under its new
Chapter 11 plan.

LBHI's lawyer, Alfredo Perez, Esq., at Weil Gotshal & Manges LLP,
in Houston, Texas, says the determination process would ease the
administration of the proofs of claim without affecting the
rights of any claimant to dispute the company's proposed allowed
claim amounts.

                    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: Creditors back Private Sale of Rosslyn
-------------------------------------------------------
The ad hoc group of Lehman Brothers creditors expressed its
support for the private sale of Rosslyn LB Syndication Partner
LLC's stake in a joint venture.

Lehman Brothers Holdings Inc. earlier sought a court ruling
authorizing Rosslyn LB, an indirect subsidiary of the company, to
sell its stake in Rosslyn Syndication Partners JV LP for not less
than $385 million to a subsidiary or affiliate of another joint
venture, U.S. Real Estate Opportunities I LP.

"The group has concluded that disposition by private sale is
appropriate under these circumstances," says the group's lawyer,
Gerard Uzzi, Esq., at White & Case LLP, in New York.

The statement came after LBHI assured the ad hoc group that it
won't use the private sale of Rosslyn LB's interest as a
precedent for dispensing with court-approved auction processes in
the future.  The company also agreed to provide a post-closing
notice of the adjusted purchase price in the interest of
transparency.

In a court filing, the Official Committee of Unsecured Creditors
likewise expressed its support for court approval of the proposed
sale, saying now is the right time to monetize the asset given
the current market condition.

"The Committee agrees with [Lehman] that the commercial real
estate and capital markets have significantly recovered and that
retaining the interest will not provide [Lehman's] estates with
sufficiently increased value on a risk-adjusted basis," says its
lawyer, Dennis Dunne, Esq., at Milbank Tweed Hadley & McCloy LLP,
in New York.

The Court is set to hold a hearing on August 17, 2011, to
consider approval of the proposed sale.

                    About Lehman Brothers

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

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

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

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

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

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

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

               International Operations Collapse

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

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

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


LEHMAN BROTHERS: Recovers $881-Mil. From ADR Process
----------------------------------------------------
Weil Gotshal & Manges LLP, Lehman Brothers' legal counsel, filed a
status report on the settlement of claims negotiated by the
Debtors through the alternative dispute resolution process.

The status report notes that in the past month, the Debtors have
served 14 ADR notices, bringing the total number of notices
served to 158 on 184 counterparties.

The Debtors also reached settlement with counterparties in eight
additional ADR matters, five as a result of mediation.  Upon
closing of those settlements, the Debtors will recover a total of
$881,414,670.  Settlements have now been obtained in 97 ADR
matters involving 111 counterparties.

As of August 12, 2011, 48 of the 53 ADR matters that reached the
mediation stage and concluded were settled through mediation.
Only five mediations were terminated without settlement.

Nine more mediations are scheduled to be conducted for the period
August 23 to September 23, 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)


LEHMAN BROTHERS: Wins OK for Moulton for Foreclosure Litigation
---------------------------------------------------------------
Lehman Brothers Holdings Inc. and its affiliated debtors obtained
authority from the bankruptcy court to employ Moulton Bellingham
PC as their special counsel effective March 1, 2011.

Moulton Bellingham has served as one of the "ordinary course"
professionals of the Debtors.  Its fees and expenses, however,
are expected to exceed the $1 million compensation cap for OCPs,
prompting the Debtors to seek court approval to employ the firm
pursuant to Section 327 of the Bankruptcy Code.

As special counsel, the firm will continue to provide the same
services, which include representing the Debtors in a foreclosure
litigation and the defense of lender liability claims asserted in
Montana courts.

Moulton Bellingham will be paid for its services on an hourly
basis and will be reimbursed for its expenses.  The hourly rates
for the firm's professionals range from $210 to $310 for
partners, $150 to $205 for associates, and $140 for paralegals
and other non-lawyer professionals.

In an affidavit, Doug James, Esq., at Moulton Bellingham,
declares that the firm is "not currently adverse to the Debtors
or their affiliates."

                    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: Drops Plea to Hire Pachulski for 2 Civil Cases
---------------------------------------------------------------
Lehman Brothers Holdings Inc. withdrew its application to
authorize Pachulski Stang Ziehl & Jones LLP to represent the
company in two civil cases pending before a district court in
California.

LBHI previously asked Judge Peck to allow its special counsel to
handle the cases against Beverly Hills Estates Funding Inc. and
U.S. Bank N.A.  The cases, which were previously handled by
Severson & Werson, were filed on behalf of Aurora Bank FSB, a
Lehman subsidiary.

The withdrawal comes after the Office of the U.S. Trustee, a
Justice Department agency that oversees bankruptcy cases, opposed
the application.

                    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)


LEONID CHATKHAN: Bid for More Time to Challenge Discharge Denied
----------------------------------------------------------------
Bankruptcy Judge Carla E. Craig denied a motion by Bill Stathakos
seeking an extension of time to object to Leonid Chatkhan's
discharge and to the dischargeability of a debt pursuant to 11
U.S.C. Sections 523 and 727.  The Court held that Mr. Stathakos
failed to diligently pursue discovery or to take any steps to seek
the denial of the debtor's discharge, or to seek a determination
of nondischargeability with respect to his claim against the
debtor, prior to the deadline to object to discharge or
dischargeability, and because no justification has been offered
for this delay nor any reason why his objections to discharge and
dischargeability could not have been asserted prior to the
deadline provided by the Bankruptcy Rules.

On Dec. 31, 2010, Mr. Stathakos filed a proof of claim against the
Debtor's estate for $6,000,000, of which $1,300,000 is alleged to
be a secured claim.  On Jan. 9, 2011, Mr. Stathakos filed the
Extension Motion, seeking to extend the time to object to the
Debtor's discharge under Sec. 727, and to object to the
dischargeability of debt owed to him under Sec. 523.  On Jan. 17,
2011, Mr. Stathakos filed a complaint for declaratory judgment
against the Chapter 7 Trustee to determine his rights in certain
assets of the estate.

A copy of Judge Craig's Aug. 12, 2011 Decision is available at
http://is.gd/kdQv2Rfrom Leagle.com.

Counsel to Bill Stathakos is:

         Jonathan Bodner, Esq.
         NEIGER LLP
         317 Madison Avenue, 21st Floor
         New York, NY 10017
         Tel: 212-267-7342
         Fax: 212-406-3677
         E-mail: info@neigerllp.com
         http://www.neigerllp.com

Leonid Chatkhan filed a voluntary Chapter 11 petition (Bankr.
E.D.N.C. Case No. 10-46775) on July 19, 2010.  At the behest of
the United States Trustee, the case was converted to a case under
chapter 7 on Oct. 20, 2010.  Robert L. Geltzer was appointed the
chapter 7 trustee.

Counsel for the Debtor is:

          Wayne M. Greenwald, Esq.
          WAYNE GREENWALD, PC
          99 Park Avenue, Suite 800
          New York, NY 10016
          Tel: 212-983-1922
          Fax: 212-973-9494
          E-mail: grimlawyers@aol.com

The Chapter 7 Trustee may be reached at:

          Robert L. Geltzer, Esq.
          THE LAW OFFICES OF ROBERT L. GELTZER
          1556 Third Avenue, Suite 505
          New York, NY 10128
          Tel: (212) 410-0100
          E-mail: rgeltzer@epitrustee.com

Special Litigation and Real Estate Counsel to the Chapter 7
Trustee are:

         Robert A. Wolf, Esq.
         Andrea Fisher, Esq.
         SQUIRE, SANDERS & DEMPSEY, L.L.P.
         30 Rockefeller Plaza, 23rd Floor
         New York, NY 10112
         Tel: (212) 872-9850
         E-mail: rwolf@ssd.com


LIONCREST TOWERS: Plan Disclosures Approval or Dismissal Tomorrow
-----------------------------------------------------------------
The hearing to consider the approval of the disclosure statement
explaining Lioncrest Towers LLC's proposed Chapter 11 plan has
been continued to Aug. 23, 2011, at 10:30 a.m.

The hearing to consider a request to dismiss the Debtor's case has
also been continued to Aug. 23, 2011.

The Debtor previously submitted the Disclosure Statement, which
explains that, under the Debtor's Chapter 11 plan of
reorganization, secured creditor Wells Fargo, owed $29.5 million,
will be paid in full.  It will be paid in monthly installments of
interest for five years, plus four annual principal repayments of
$300,000 each, with payment of the unpaid balance at the end of
the fifth year.  Unsecured creditors will also be paid in full in
quarterly installments with interest over one year.  Unsecured
creditors are expected to recover $38,917 plus interest at 5%.
Equity owners will receive no distribution but will retain its
ownership interest.

With respect to the case dismissal hearing, as reported in the
Troubled Company Reporter on March 16, Wells Fargo Bank N.A. asked
the Court to grant relief from the automatic stay to allow it to
foreclose on its collateral, and dismiss the Debtor's case.

                   About Lioncrest Towers, LLC

Lioncrest Towers, LLC, owns and operates a residential apartment
project in Richton Park, Illinois, known as Park Towers.  It filed
for Chapter 11 bankruptcy protection (Bankr. N.D. Ill. Case No.
10-36805) on Aug. 17, 2010.  Richard H. Fimoff, Esq., at Robbins,
Salomon & Patt, Ltd., in Chicago, assists the Debtor in its
restructuring effort.  The Debtor estimated assets and debts at
$10 million to $50 million.


LODGER LLC: Case Summary & Largest Unsecured Creditor
-----------------------------------------------------
Debtor: Lodger LLC
        P.O. Box 3755
        Center Line, MI 48015

Bankruptcy Case No.: 11-62128

Chapter 11 Petition Date: August 17, 2011

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

Judge: Thomas J. Tucker

Debtor's Counsel: Michael A. Greiner, Esq.
                  FINANCIAL LAW GROUP, P.C.
                  29405 Hoover
                  Warren, MI 48093
                  Tel: (586) 693-2000
                  Fax: (586) 693-2000
                  E-mail: mike@financiallawgroup.com

Scheduled Assets: $675,000

Scheduled Debts: $792,368

The petition was signed by Paul Marino, managing member.

Affiliate that filed separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Paul William Marino and Linda Kay     11-55026            05/26/11
Marino

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

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
First Place Bank                   Business Property      $769,768
24725 W. Twelve Mile Road
Southfield, MI 48034


LOS ANGELES DODGERS: Bingham Lose Bid to Strike Malpractice Claims
------------------------------------------------------------------
Carolina Bolado at Bankruptcy Law360 reports that Bingham
McCutchen LLP lost its bid Thursday to preemptively strike Los
Angeles Dodgers owner Frank McCourt's malpractice claims when a
Massachusetts judge tossed the firm's suit claiming it acted
properly when drafting a marital agreement that could cost McCourt
control of the bankrupt team.

Law360 relates that Suffolk County Judge Janet L. Sanders granted
McCourt's motion to dismiss the suit, saying that the declaratory
judgment procedure had never been used in the state to allow a
party accused of a tort to preemptively sue the alleged victim.

                     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.


LUMEA STAFFING: Green Planet's Staffing Business in Chapter 11
--------------------------------------------------------------
Green Planet Group, Inc.'s wholly owned subsidiary Lumea, Inc
completed the filing of Chapter 11 for two of its subsidiaries,
Lumea Staffing, Inc and Lumea Staffing of California, Inc.  The
other operating companies of Lumea and Green Planet Group are not
affected by these filings.

The Chapter 11 filings will allow the Company to restructure the
majority of its staffing business liabilities. These liabilities
include $923,000 of secured claims and up to $25 million of
unsecured claims.  The management of the companies will be
debtors-in-possession (DIP) while they develop reorganizational
plans to resolve balances with their creditors and emerge as
profitable entities.

In addition, Green Planet Group is in negotiations to receive an
infusion of new capital to ensure that it will be in a position to
continue its operations and execute its business plan.

Edmond L Lonergan, President/CEO, said: "Throughout the
reorganization process, we will be conducting 'business as usual'
and have taken every step possible to ensure that the Chapter 11
filings will not adversely affect our day-to-day temp staffing
operations, nor the Company as a whole.  The action will provide
long-term relief from our debilitating legacy debt and allow us to
pursue an ongoing strategy to build the Lumea staffing business
into a national brand."  Mr. Lonergan continued, "These filings
will have no impact on Green Planets' shareholders other than when
these two subsidiaries emerge as profitable entities; the share
value is expected to reflect the overall improvement in the
Company's balance sheet."

The subsidiaries' Chapter 11 cases are pending in the United
States Bankruptcy Court for the District of Arizona, Case 2:11-bk-
23582 and 2:11-bk-23585.  Dean M. Dinner, of Nussbaun, Gillis and
Dinner, P.C. serves as lead counsel to the Lumea Companies in
their restructuring.

                    About Green Planet Group

Green Planet Group, Inc. -- http://www.greenplanetgroup.com/--
is based in Scottsdale, Arizona and engages in ongoing research
and development to create products and services that enhance our
environment.  The Company's revenues are currently derived from
the production and distribution of fuel-based energy conservation
and clean-air products, as well as through the placement of
members of the growing ranks of the unemployed into meaningful
"green collar" careers.


MAJESTIC CAPITAL: Can Hire BDO USA as Tax Preparers
---------------------------------------------------
The Honorable Cecelia G. Morris has approved the application of
Majestic Capital, Ltd., Majestic USA Capital, Inc., Compensation
Risk Managers, LLC, Compensation Risk Managers of California, LLC,
Eimar, LLC, and Embarcadero Insurance Holdings, Inc. to employ BDO
USA, LLP as their tax preparers.

BDO USA will apply for compensation and reimbursement of expenses
in accordance with the procedures set forth in Sections 330 and
331 of the Bankruptcy Code, the applicable provisions of the
Bankruptcy Rules, the Local Rules, the guidelines established by
the U.S. Trustee, and procedures fixed by Court order.

                   About Majestic Capital, Ltd.

Headquartered in Poughkeepsie, New York City, Majestic Capital,
Ltd., fdba CRM Holdings, Inc., filed for Chapter 11 protection
(Bankr. S.D.N.Y. Case No. 11-36225) on April 29, 2011.

Affiliates also sought Chapter 11 protection Bankr. S.D. N.Y. Case
Nos. 11-36221 - 11-36234) on April 29, 2011.  Bankruptcy Judge
Cecelia G. Morris presides over the case.  Thomas Genova, Esq., at
Genova & Malin, Attorneys represents the Debtors in their
restructuring effort.  Murphy & King, P.C. serves as the Debtors'
co-counsel.  The Debtors tapped Michelman & Robinson, LLP, as
special counsel, and Day Seckler, LLP, as accountants and
financial advisors.  The Debtor disclosed $436,191,000 in assets
and $421,757,000 in liabilities as of Dec. 31, 2010.

Bruce F. Smith, Esq., and Steven C. Reingold, Esq., at Jager Smith
P.C. represent the Official Committee of Unsecured Creditors.  The
Committee has also tapped J.H. Cohn LLP as its financial advisors.


MARCO POLO: A.P. Moller Wants Adequate Protection for Cash Use
--------------------------------------------------------------
A.P. Moller-Maersk A/S asks the U.S. Bankruptcy Court for the
Southern District of New York to condition Marco Polo Seatrade
B.V, et al.'s use of cash collateral on providing adequate
protection or, in the alternative, providing relief from the
automatic stay.

Maersk set an Aug. 24, 2011, hearing on its adequate protection
request.  Objections, if any, are due Aug. 23, at 4:00 p.m.

Maersk tells the Court that the July Sum and future sums due under
the Pool Agreement constitute cash collateral of Maersk and it has
not consented to the use of its cash collateral, nor has the
Court, authorized the Debtors to use the case collateral.

Under the Pool Agreement, the earnings of all vessels in the pool
are shared by the vessels' owners based on a formula in the Pool
Agreement.  Handytankers K/S, a subsidiary of Maersk, pays the
vessels' owners on a monthly basis.  The Marco Polo Vessels are
represented by Seaarland Shipping Management B.V. as manager of
Group 2 in the pool.

Maersk states that the Debtors have not provided any adequate
protection for their use of Maersk's cash collateral, therefor,
they cannot use Maersk's cash collateral without the provision of
adequate protection for the use.

If the Debtors do not or cannot provide adequate protection,
Maersk will be entitled to relief from the automatic stay, for
cause, enabling it to apply its cash collateral to its claim.

Maersk is represented by:

         Andrew D. Gottfried, Esq.
         MORGAN, LEWIS & BOCKIUS LLP
         101 Park Avenue
         New York, New York 10178-0600
         Tel: (212) 309-6000
         Fax: (212) 309-6001
         E-mail: agottfried@morganlewis.com

                        About Marco Polo

Marco Polo Seatrade B.V. operates an international commercial
vessel management company that specializes in providing commercial
and technical vessel management services to third parties.
Founded in 2005, the Company mainly operates under the name of
Seaarland Shipping Management and maintains corporate headquarters
in Amsterdam, the Netherlands.  The primary assets consist of six
tankers that are regularly employed in international trade, and
call upon ports worldwide.

Marco Polo and three affiliated entities filed for Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 11-13634) on July 29,
2011.  The other affiliates are Seaarland Shipping Management
B.V.; Magellano Marine C.V.; and Cargoship Maritime B.V.

Marco Polo is the sole owner of Seaarland, which in turn is the
sole owner of Cargoship, and also holds a 5% stake in Magellano.
The remaining 95% stake in Magellano is owned by Amsterdam-based
Poule B.V., while another Amsterdam company, Falm International
Holding B.V. is the sole owner of Marco Polo.  Falm and Poule
didn't file bankruptcy petitions.

The filings were prompted after lender Credit Agricole Corporate &
Investment Bank seized one ship on July 21, 2011, and was on the
cusp of seizing two more on July 29.  The arrest of the vessel was
authorized by the U.K. Admiralty Court.  Credit Agricole also
attached a bank account with almost US$1.8 million on July 29.
The Chapter 11 filing precluded the seizure of the two other
vessels.

Evan D. Flaschen, Esq., Robert G. Burns, Esq., and Andrew J.
Schoulder, Esq., at Bracewell & Giuliani LLP, serve as bankruptcy
counsel.  The cases are before Judge James M. Peck.

The petition said assets and debt are both more than
US$100 million and less than US$500 million.


MARCO POLO: Propsoes $1-Mil. Loan from Credit AgriCole, RBS
-----------------------------------------------------------
Marco Polo Seatrade B.V, et al., ask U.S. Bankruptcy Court for the
Southern District of New York for authorization to borrow up to
$563,986, on an interim basis, and up to $1,000,000, on a final
basis, of postpetition financing.

The Debtors relate that despite their efforts to negotiate a
consensual use of the cash collateral for a limited period, they
still have not reached a consensus with any of their prepetition
lenders.

As of the Petition Date, the Debtors prepetition indebtedness is
approximately $207,408,791, and consists of:

   a. Credit Agricole Facility -- $89,743,8384 outstanding under
      that certain loan agreement, dated as of Sept. 22, 2005;

   b. Royal Bank of Scotland Facility -- $122,000,0005 outstanding
      under that certain loan agreement, dated as of Aug. 14,
      2007, among the Debtors, several lenders party thereto from
      time to time, and RBS as agent.

The proposed material terms of the DIP Documents include, among
other things:

Prepetition Facilities:    The Credit Agricole Credit Agreement
                           and the RBS Credit Agreement

DIP Credit Agreement Parties:

  Borrower:                Seaarland Shipping Management B.V.

  Guarantors:              Marco Polo Seatrade B.V., Magellano
                           Marine C.V. and Cargoship Maritime B.V.

  DIP Lender:              MPS DIP LLC or its designee

Maturity:                  The DIP Facility terminates on the
                           earliest to occur of:  (i) Aug. 1,
                           2012, (ii) the effective date of any
                           plan of reorganization with respect to
                           any obligor, (iii) the date of
                           conversion of any case to a case under
                           Chapter 7 of the Bankruptcy Code, (iv)
                           the date of any termination of the
                           exclusivity period  for any obligor;
                           and (v) the date of any  appointment of
                           a Chapter 11 trustee or other
                           disinterested person with expanded
                           powers.

Standby Nature;
Use of Proceeds:           The borrower will be entitled to draw
                           on the DIP Facility (i) to pay
                           necessary expenses to operate, insure
                           and maintain the vessels, and (ii) to
                           pay other administrative expenses,
                           including allowed professional fees and
                           expenses of the Debtors.

Interest Rates :           5% interest per annum, which will
                           accrue and be payable on the Stated
                           Maturity Date.

DIP Commitment:            $1 million (plus accrued interest).

Liens and Priorities:      DIP Liens. The obligations of the
                           Borrowers under the DIP Facility will
                           be secured by these liens:

                           a. first priority liens on all now
                           owned or hereafter acquired assets and
                           property of the obligors;

                           b. junior priority liens on the DIP
                           collateral to the extent that such DIP
                           collateral;

                           c. priming liens on the DIP collateral
                           ahead of (i) the liens securing the
                           Credit Agricole Collateral, (ii) the
                           liens securing the RBS Collateral,
                           (iii) any actual or asserted rights of
                           setoff by the Prepetition Lenders, (iv)
                           attachment of the interests owned by
                           MPS in Futmarine B.V. filed by Top
                           Ships USA, Inc. and/or its affiliates,
                           and (v) liens or interests of any other
                           party other than those holding valid,
                           perfected and not avoidable maritime
                           liens under applicable law for
                           necessaries.

                           Charging Liens. The loan will further
                           be secured by a charging lien against
                           the Credit Agricole Collateral and RBS
                           Collateral.

                           The DIP Facility will be entitled to
                           superpriority administrative expense
                           claim status, subject to certain carve
                           out expenses.

A full-text copy of the cash flow is available for free at
http://bankrupt.com/misc/MARCOPOLO_amendedcashflow.pdf

                        About Marco Polo

Marco Polo Seatrade B.V. operates an international commercial
vessel management company that specializes in providing commercial
and technical vessel management services to third parties.
Founded in 2005, the Company mainly operates under the name of
Seaarland Shipping Management and maintains corporate headquarters
in Amsterdam, the Netherlands.  The primary assets consist of six
tankers that are regularly employed in international trade, and
call upon ports worldwide.

Marco Polo and three affiliated entities filed for Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 11-13634) on July 29,
2011.  The other affiliates are Seaarland Shipping Management
B.V.; Magellano Marine C.V.; and Cargoship Maritime B.V.

Marco Polo is the sole owner of Seaarland, which in turn is the
sole owner of Cargoship, and also holds a 5% stake in Magellano.
The remaining 95% stake in Magellano is owned by Amsterdam-based
Poule B.V., while another Amsterdam company, Falm International
Holding B.V. is the sole owner of Marco Polo.  Falm and Poule
didn't file bankruptcy petitions.

The filings were prompted after lender Credit Agricole Corporate &
Investment Bank seized one ship on July 21, 2011, and was on the
cusp of seizing two more on July 29.  The arrest of the vessel was
authorized by the U.K. Admiralty Court.  Credit Agricole also
attached a bank account with almost US$1.8 million on July 29.
The Chapter 11 filing precluded the seizure of the two other
vessels.

Evan D. Flaschen, Esq., Robert G. Burns, Esq., and Andrew J.
Schoulder, Esq., at Bracewell & Giuliani LLP, serve as bankruptcy
counsel.  The cases are before Judge James M. Peck.

The petition said assets and debt are both more than
US$100 million and less than US$500 million.


MARINA BIOTECH: Posts $3.6-Mil. 2nd Quarter Net Loss
----------------------------------------------------
Marina Biotech, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $3.6 million on $129,000 of revenue for
the three months ended June 30, 2011, compared with a net loss of
$4.1 million on $193,000 of revenue for the same period last year.

The Company reported a net loss of $7.2 million on $343,000 of
revenue for the six months ended June 30, 2011, compared with a
net loss of $13.6 million on $377,000 of revenue for the same
period of 2010.

The Company's balance sheet at June 30, 2011, showed
$32.2 million in total assets, $15.9 million in total liabilities,
and stockholders' equity of $16.3 million.

As reported in the TCR on March 29, 2011, KPMG LLP, in Seattle,
Wash., expressed substantial doubt about Marina Biotech's ability
to continue as a going concern, following the Company's 2010
results.  The independent auditors noted that the Company has
incurred recurring losses and has an accumulated deficit, and has
had recurring negative cash flows from operations.

A copy of the Form 10-Q is available at http://is.gd/jiQW6n

Bothell, Wash.-based Marina Biotech, Inc. (Nasdaq: MRNA)
-- http://www.marinabio.com/-- is a biotechnology company,
focused on the development and commercialization of RNA
interference- (RNAi) and RNA-based therapeutics.


MECHANICAL TECHNOLOGY: Posts $395,000 Net Loss in 2nd Quarter
-------------------------------------------------------------
Mechanical Technology, Incorporated, filed its quarterly report on
Form 10-Q, reporting a net loss of $395,000 on $2.1 million of
revenues for the three months ended June 30, 2011, compared with
a net loss of $700,000 on $2.0 million of revenues for the
corresponding period last year.

The Company reported a net loss of $456,000 on $4.7 million of
revenues for the six months ended June 30, 2011, compared with a
net loss of $2.6 million on $3.7 million on $4.7 million of
revenues for the first half of 2010.

The Company's balance sheet as of June 30, 2011, showed
$4.1 million in total assets, $1.9 million in total liabilities,
all current, and stockholders' equity of $2.2 million.

PricewaterhouseCoopers in Albany, New York, expressed substantial
doubt about Mechanical Technology's ability to continue as a going
concern, following the Company's 2010 results.  The independent
auditors noted that the Company has suffered recurring losses from
operations and has an accumulated deficit.

A copy of the Form 10-Q is available at http://is.gd/A5xbqr

Albany, N.Y.-based Mechanical Technology, Incorporated, operates
in two segments, the Test and Measurement Instrumentation segment,
which is conducted through MTI Instruments, Inc., a wholly-owned
subsidiary, and the New Energy segment which is conducted through
MTI MicroFuel Cells Inc., a variable interest entity.


MEDIMEDIA USA: Moody's Junks Corporate Family Rating From 'B3'
--------------------------------------------------------------
Moody's Investors Service downgraded MediMedia USA, Inc.'s
Corporate Family Rating (CFR) to Caa1 from B3. The Senior Secured
Bank Credit Facility was also downgraded to B2 from B1. The Senior
Subordinated Notes remain unchanged at Caa2. The outlook is
stable. The downgrade reflects the weaker than expected operating
performance, high leverage, and a lower than anticipated cash
balance. It also reflects the fact that the company is presently
in violation of its maximum leverage covenant and is under
pressure to pursue a waiver, refinance or extend its facilities
which will likely result in higher borrowing costs and lower
profits. The stable outlook is based on the belief that they will
be able to obtain a waiver and will likely be successful in
amending the bank facilities in return for debt reduction with
proceeds from the recent sale of the Animal Health division.

MediMedia USA, Inc.

   -- Corporate Family Rating, Downgraded to Caa1 from B3

   -- Probability of Default Rating, Downgraded to Caa1 from B3

   -- Senior Secured Bank Credit Facility, Downgraded to B2 from
      B1

   -- Senior Subordinated Notes, Unchanged at Caa2

   -- Outlook, Unchanged at Stable

RATINGS RATIONALE

MediMedia's Caa1 Corporate (CFR) reflects concern over its
violation of its maintenance covenants under its existing credit
agreement following weakness at two of its three divisions, its
high leverage (7.1x as of March 31, 2011 using Moody's standard
adjustments for lease expenses), negative free cash flow, and
potentially weakened competitive position. Its history of
acquisitions and sales appears to have caused integration problems
for its Pharmaceutical Marketing and Health Management divisions
that drove the weak performance. The company's exposure to
pharmaceutical spending exposes it to the industry's shifting
spending patterns as patents expire on a large number of high
profile drugs at a time when it will be trying to rebuild its
reputation in the industry. Lack of scale also constrains the
rating, particularly given the potential for intensifying
competition from larger, better-capitalized companies. In
addition, its cash position deteriorated much quicker than
anticipated from the 1st to the 2nd quarter of 2011. The sale of
its Animal Health division for $114 million (after taxes) which
closed in the 3rd quarter provides fresh liquidity, but the need
for liquidity given the negative free cash flow is greater than
expected. MediMedia's $50 million revolver matures in October 2012
and its term loan matures in October 2013, so extending them is of
primary importance in Moody's view. Though following the recent
performance weakness, MediMedia will be challenged to extend its
maturity profile and will incur higher interest expense and
potentially reduced revolver availability. The recent change in
the CEO is a step toward rebuilding confidence with investors and
customers although it is likely to take several quarters of strong
execution. The Health Information division has been a source of
stability, despite the transition to digital, and provides a
degree of support to the credit.

Recent Developments

MediMedia recently proposed to its lenders that it be allowed to
include $114 million of after tax proceeds from the Animal Health
sale in its 2nd quarter compliance tests to cure its covenant
violation after reporting weaker than expected earnings. It also
requested an increase in its leverage covenants for the life of
the loan and an extension of the maturity date of the Revolver and
Term Loan. In exchange, the bank debt will be paid down with the
proceeds of the asset sale.

MediMedia's ratings were assigned by evaluating factors we believe
are relevant to the credit profile of the issuer, such as i) the
business risk and competitive position of the company versus
others within its industry, ii) the capital structure and
financial risk of the company, iii) the projected performance of
the company over the near to intermediate term, and iv)
management's track record and tolerance for risk. These attributes
were compared against other issuers both within and outside of
MediMedia's core industry and MediMedia's ratings are believed to
be comparable to those of other issuers of similar credit risk.

Headquartered in Yardley, Pennsylvania, MediMedia USA, Inc.
(MediMedia) provides health information and services that inform
consumers, physicians, and other healthcare decision makers. Its
annual revenue is approximately $300 million. The company is
primarily owned by Vestar Capital Partners.


MERCANTILE BANCORP: Incurs Roughly $2-Mil. 2nd Quarter Net Loss
---------------------------------------------------------------
Mercantile Bancorp, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q reporting a
net loss of $1.99 million on $9.13 million of total interest and
dividend income for the three months ended June 30, 2011, compared
with a net loss of $5.65 million on $11.26 million of total
interest and dividend income for the same period during the prior
year.

The Company also reported a net loss of $1.04 million on $18.59
million of total interest and dividend income for the six months
ended June 30, 2011, compared with a net loss of $5.60 million on
$22.77 million of total interest and dividend income for the same
period a year ago.

The Company's balance sheet at June 30, 2011, showed $888.99
million in total assets, $896.02 million in total liabilities and
a $7.03 million total stockholders' deficit.

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

                        http://is.gd/wHqx2O

                      About Mercantile Bancorp

-- http://www.mercbanx.com/-- is a Quincy, Illinois-based bank
holding company with wholly owned subsidiaries consisting of one
bank in Illinois and one each in Kansas and Florida, where the
Company conducts full-service commercial and consumer banking
business, engages in mortgage banking, trust services and asset
management, and provides other financial services and products.
The Company also operates Mercantile Bank branch offices in
Missouri and Indiana.

As reported in the TCR on April 26, 2011, BKD, LLP, in Decatur,
Illinois, expressed substantial doubt about Mercantile Bancorp's
ability to continue as a going concern, following the Company's
2010 results.  The independent auditors noted that the Company has
suffered recurring losses resulting from the effects of the
economic downturn causing its subsidiary banks to be
undercapitalized and resulting in consent orders to be issued by
their primary regulators.

On Aug. 10, 2011, the Illinois Division of Banking released a
Consent Order that Mercantile Bank, the Federal Deposit Insurance
Corporation, and the Division entered into as of July 28, 2011.
Under the Order, Mercantile Bank will cease operating with all
money transmitters and currency businesses providing brokerage,
sale or exchange of non-United States currency for deposit
customers.  Furthermore, Mercantile Bank may not enter into a new
line of business without the prior written consent of the FDIC and
the Division.


MERCED FALLS: Case Summary & 4 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Merced Falls Ranch
        264 I. Street
        Los Banos, CA 93635

Bankruptcy Case No.: 11-19212

Chapter 11 Petition Date: August 16, 2011

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

Judge: W. Richard Lee

Debtor's Counsel: Riley C. Walter, Esq.
                  WALTER & WILHELM LAW GROUP
                  205 E. River Park Circle, Suite 410
                  Fresno, CA 93720
                  Tel: (559) 435-9800

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

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

The petition was signed by Stephen W. Sloan, member.

Debtor's List of four Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Merced County Tax Assessor         --                     $302,803

T.D.C. Aero Logistics              --                      $20,300

Shannon Pump Company               --                      $32,000

Charles Gragnami                   --                      $10,500


MOHEGAN TRIBAL: Reports $28.6-Mil. Net Income in June 30 Quarter
----------------------------------------------------------------
Mohegan Tribal Gaming Authority filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q reporting
net income of $28.66 million on $361.38 million of net revenues
for the three months ended June 30, 2011, compared with net income
of $10.99 million on $354.08 million of net revenues for the same
period during the previous year.

The Company also reported net income of $65.88 million on
$1.04 billion of net revenues for the nine months ended June 30,
2011, compared with net income of $34.36 million on $1.04 billion
of net revenues for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $2.17 billion
in total assets, $1.99 billion in total liabilities, and
$176.04 million in total capital.

"We are extremely pleased with our results for the third quarter,"
said Mitchell Grossinger Etess, chief executive officer of the
Authority.  "The growth in Adjusted EBITDA and continued margin
improvements at both properties are a direct result of the
outstanding efforts by each and every one of our employees."

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

                        http://is.gd/0m8RgM

                       About Mohegan Tribal

Headquartered in Uncasville, Conn., Mohegan Tribal Gaming
Authority conducts and regulates gaming activities on Tribal
lands, which are federally recognized Indian tribe reservations in
southeastern Connecticut.

The Authority has noted that its Bank Credit Facility matures on
March 9, 2012 and its 2002 Senior Subordinated Notes mature on
April 1, 2012.  In addition, a substantial portion of the
Authority's remaining indebtedness matures over the following
three fiscal years.  The Authority believes that it will need to
refinance all or part of its indebtedness at or prior to each
maturity thereof in order to maintain sufficient resources for its
operations.  The Authority has engaged Blackstone Advisory
Partners, L.P. to assist in its strategic planning relating to its
debt maturities.

                         *     *     *

At the end of November 2010, Moody's Investors Service downgraded
Mohegan Tribal Gaming Authority's Corporate Family and Probability
of Default ratings to Caa2 from B3.  All of MTGA's rated long-term
debt was also lowered.  The rating outlook is negative.

The ratings downgrade reflects Moody's view that MTGA could
find it difficult to refinance significant upcoming debt
maturities without some impairment to bondholders given its high
leverage -- debt/EBITDA is over 7 times -- limited near-term
growth prospects for Mohegan Sun Casino, the likely continuation
of weak consumer gaming demand trends in the Northeastern U.S.,
and the strong possibility of gaming in Massachusetts.  The
company's $675 million revolver ($527 million outstanding at
Sept. 30, 2010) expires in March 2012 and its $250 million 8%
senior subordinated notes mature in April 2012.  Combined, these
debt items account for about 50% of MTGA's total debt outstanding.

MTGA has announced that it hired Blackstone Group to help deal
with its capital structure issues, although no details have been
made available regarding MTGA's options.  Given the company's
recently announced weak fiscal fourth quarter results along with
the significant near- and long-term challenges previously
mentioned, Moody's believes a restructuring that involves some
impairment to bondholders will be considered.

The negative ratings outlook reflects the relatively short time
frame in which MTGA has to address what Moody's believes to be a
significant capital structure issue.  If MTGA is not able to
refinance by March 2011 its $675 million revolver will be become
current.  The same holds true for the company's $250 million 8%
senior subordinated notes to the extent these notes are not
refinanced by April 1, 2011.


MOORE SORRENTO: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Moore Sorrento, LLC
        1848 Norwood Plaza, Suite 214
        Hurst, TX 76054

Bankruptcy Case No.: 11-44651

Chapter 11 Petition Date: August 17, 2011

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

Judge: Russell F. Nelms

Debtor's Counsel: J. Robert Forshey, Esq.
                  FORSHEY & PROSTOK, LLP
                  777 Main Street, Suite 1290
                  Ft. Worth, TX 76102
                  Tel: (817) 877-8855
                  E-mail: jrf@forsheyprostok.com

                         - and -

                  Matthew G. Maben, Esq.
                  FORSHEY & PROSTOK, L.L.P.
                  777 Main Street, Suite 1290
                  Fort Worth, TX 76102
                  Tel: (817) 877-8855
                  Fax: (817) 877-4151
                  E-mail: mmaben@forsheyprostok.com

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

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

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

The petition was signed by Dagmar Solensky, manager of Yellow
Road, LLC, manager of Moore Sorrento, LLC.


MORGANS HOTEL: Units Ink $135MM Mortgage Loan with Deutsche Bank
----------------------------------------------------------------
Subsidiaries of Morgans Hotel Group Co. entered into a new
mortgage financing with Deutsche Bank Trust Company Americas, as a
lender, administrative agent, lead arranger and bookrunner,
consisting of two mortgage loans, each secured by Hudson and
treated as a single loan once disbursed, in these amounts:

   (1) a $115 million mortgage loan that was funded at closing,
       and

   (2) a $20 million delayed draw term loan, which will be
       available to be drawn over a 15-month period, subject to
       achieving a debt yield ratio of at least 9.5% after giving
       effect to each additional draw.

The Hudson 2011 Mortgage Loan bears interest at a reserve adjusted
blended rate of 30-day LIBOR plus 400 basis points.  The Company
maintains an interest rate cap for the amount of the Hudson 2011
Mortgage Loan that will cap the LIBOR rate on the debt under the
Hudson 2011 Mortgage Loan at approximately 3.0% through the
maturity date.

The Hudson 2011 Mortgage Loan matures on Aug. 12, 2013.

Proceeds from the Hudson 2011 Mortgage Loan, cash on hand and cash
held in escrow were applied to (1) repay $201.2 million of
outstanding mortgage debt under the prior first mortgage loan
secured by Hudson, (2) repay $26.5 million of indebtedness under a
mezzanine loan related to Hudson, and (3) pay fees and expenses in
connection with the financings, resulting in the retirement of
$227.7 million in 2006 Hudson Mortgage Loan and Mezz Loan debt.

After repayment of the mortgage debt under the 2006 Hudson
Mortgage Loan and the Mezz Loan, each of those facilities was
terminated.

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

                       http://is.gd/d3TgMG

                     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.


MRA PELICAN: Sec. 341 Creditors Meeting Set for Sept. 23
--------------------------------------------------------
The United States Trustee in Miami, Florida, will convene a
Meeting of Creditors pursuant to 11 U.S.C. Sec. 341(a) in the
bankruptcy case of MRA Pelican Pointe Apartments, LLC, on
Sept. 23, 2011, at 1:00 p.m. at 299 E Broward Blvd Room 411, in
Fort Lauderdale.

The debtor's representative must be present at the meeting to be
questioned under oath by the trustee and by creditors.  Creditors
are welcome to attend, but are not required to do so. The meeting
may be continued and concluded at a later date without further
notice. The court, after notice and a hearing, may order that the
United States trustee not convene the meeting if the debtor has
filed a plan for which the debtor solicited acceptances before
filing the case.

Deadline to file a Complaint to determine dischargeability of
certain debts is Nov. 22, 2011.

Proofs of claim are due by Dec. 22, 2011.

                     About MRA Pelican Pointe

MRA Pelican Pointe Apartments, LLC, owns an apartment complex
commonly known as Whispering Isles Apartments in Pompano Beach,
Florida.  The property was being managed by Aryeh Kieffer of Boca
Raton-based Addison Advisors.

Pre-bankruptcy, Fannie Mae initiated a foreclosure action against
the property  in the Circuit Court of the 17th Judicial Circuit in
and for Broward County, Florida.  At Fannie Mae's behest, Margaret
Smith of Glass Ratner Advisory & Capitol Group LLC was appointed
as receiver.  The receiver has administered and operated the
apartment complex since May 17, 2011.

MRA Pelican filed for Chapter 11 bankruptcy (Bankr. S.D. Fla. Case
No. 11-32457) on Aug. 10, 2011.  Addison Advisors' Mr. Kieffer
signed the petition.  Bradley S. Shraiberg, Esq., at Shraiberg,
Ferrara, & Landau P.A., serves as the Debtor's bankruptcy counsel.
In its schedules, the Debtor listed $12,003,200 in assets and
$14,661,009 in debts.

Fannie Mae is represented by Gary M. Freedman, Esq., and Mark S.
Roher, Esq., at Tabas, Freedman, Soloff, Miller & Brown, P.A.


MRA PELICAN: Fannie Mae Challenges Bid to Repossess Apartment
-------------------------------------------------------------
MRA Pelican Pointe Apartments LLC is locked in a battle with
Fannie Mae over the Debtor's requests to use cash collateral and
for turnover of property which is currently in the hands of a
receiver.

MRA Pelican owns an apartment complex commonly known as Whispering
Isles Apartments in Pompano Beach, Florida.  The property  is
encumbered by a mortgage in favor of Fannie Mae.  In addition,
various creditors may claim a security interest in certain of the
Debtor's assets.

Pre-bankruptcy, Fannie Mae initiated a foreclosure action against
the property  in the Circuit Court of the 17th Judicial Circuit in
and for Broward County, Florida.  At Fannie Mae's behest, Margaret
Smith of Glass Ratner Advisory & Capitol Group LLC was appointed
as receiver.  The receiver has administered and operated the
apartment complex since May 17, 2011.  In its Statement of
Financial Position as of May 31, the receiver indicated that the
Debtor had roughly $490,469 in an operating account at Bank of
America.

The Debtor wants to use cash collateral through Sept. 14, 2011, or
until otherwise ordered by the Court, in order to pay employees
and fund other necessary operating expenses.  The Debtor contends
the continued operation of its business will preserve its going
concern value, enable it to capitalize on that value through a
reorganization strategy, and ultimately facilitates the Debtor's
ability to confirm a Chapter 11 plan.

The Debtor proposes to provide adequate protection to Fannie Mae
by way of a replacement lien on the Debtor's receivables.
However, the Debtor said, under no circumstances will Fannie May
have a lien on any causes of action arising under Chapter 5 of the
Bankruptcy Code, or any of the Debtor's assets that Fannie Mae did
not have a right to prepetition.

In a separate motion, the Debtor asks the Court to direct the
turnover of the property, including the cash.  The Debtor said the
cash in the BofA account would aid in its reorganization efforts.
The Debtor also wants the receiver to file an accounting of any
property of the Debtor that came into the receiver's position,
custody or control.

Fannie Mae opposes the use of its cash collateral should the
Debtor take back possession of the Property from the state court-
appointed Receiver, but is willing to work out an appropriate cash
collateral order should the Receiver stay in custody of the
Property.

According to Fannie Mae, given the conduct that led to first, the
entry of the Rents Sequestration Order providing for the
appointment of a monitor to clean up the Debtor's incurring of
hundreds of thousands of dollars in code violations and second,
the appointment of the Receiver because of the Debtor's wasting of
the Property and deliberate cover-up actions, Fannie Mae has a
complete lack of confidence in the Debtor and its manager.

Fannie Mae said the Receiver will testify and present pictures
demonstrating that under the watch of the Debtor and its
management the property fell into a level of disrepair and waste
including life/safety hazards the level of which she has rarely
seen; a mold-induced tree growing up through the floor of an
apartment; and standing sewage water in an apartment.  There is no
way that this Debtor can claim straight-faced that its management
of the property is in the best interest of the tenants or
creditors. It's not even in the best interest of the Debtor,
according to Fannie Mae.

Fannie Mae argued that the Debtor has failed propose any periodic
payment to Fannie Mae to compensate Fannie Mae for the diminution
of the value of the Property while the automatic stay remains in
effect.  Fannie Mae noted the Cash Collateral Motion makes some
vague non-committal reference to "replacement lien".  Fannie Mae
also asserted that the Debtor has absolutely no assets free of
Fannie Mae's lien that could possibly serve as replacement
collateral.

Schedule "A" of the Debtor's bankruptcy petition lists the current
value of the Property at $12,000,000 with Fannie Mae's secured
claim listed on Schedule "D" at $11,677,000.

Fannie Mae said the Scheduled Amount only represents the principal
loan balance due and owing by the Debtor as of April 1, 2010 and
does not include: (i) interest; (ii) attorneys' fees' (iii) court
costs; (iv) late fees; (v) amounts advanced; and (vi) all other
sums due and payable under the loan documents.  Fannie Mae said
its claim as of the Petition Date is roughly $14,000,000.

Fannie Mae said it is willing to allow the Receiver to continue to
use its cash collateral post-petition to make the necessary
payments for the expenses associated with the maintenance and
preservation of the Property and is willing to accept as an
initial adequate protection payment, the $490,000 that is
currently held in the Receiver's account for which the funds
represent Fannie Mae's collateral.

Fannie Mae also pointed out that it does not want to be in
Bankruptcy Court.  It has no desire to "pay to play."  Because
Fannie Mae is unsecured, there is absolutely nothing in the
Debtor's case for unsecured creditors unless the Debtor's
principals provide new value.  If they are willing to do so, they
ought to start now, Fannie Mae said.

                     About MRA Pelican Pointe

MRA Pelican Pointe Apartments, LLC, owns an apartment complex
commonly known as Whispering Isles Apartments in Pompano Beach,
Florida.  The property was being managed by Aryeh Kieffer of Boca
Raton-based Addison Advisors.

MRA Pelican filed for Chapter 11 bankruptcy (Bankr. S.D. Fla. Case
No. 11-32457) on Aug. 10, 2011.  Addison Advisors' Mr. Kieffer
signed the petition.  Bradley S. Shraiberg, Esq., at Shraiberg,
Ferrara, & Landau P.A., serves as the Debtor's bankruptcy counsel.
In its schedules, the Debtor listed $12,003,200 in assets and
$14,661,009 in debts.

Fannie Mae is represented by Gary M. Freedman, Esq., and Mark S.
Roher, Esq., at Tabas, Freedman, Soloff, Miller & Brown, P.A.,
which may be reached at:

          Gary M. Freedman, Esq.
          Mark S. Roher, Esq.
          TABAS, FREEDMAN, SOLOFF, MILLER & BROWN, P.A.
          14 Northeast First Avenue, Penthouse
          Miami, FL 33132
          Telephone: (305) 375-8171
          Facsimile: (305) 381-7708
          E-mail: gary@tabasfreedman.com
                  mroher@tabasfreedman.com


MRA PELICAN: Hiring Shraiberg Ferrara as Bankruptcy Counsel
-----------------------------------------------------------
MRA Pelican Pointe Apartments, LLC, seeks Bankruptcy Court
permission to employ Shraiberg Ferrara & Landau P.A. as Chapter 11
counsel.

SFL will be paid at these rates:

          Attorneys                         $250 - 425 per hour
          Legal assistants                  $110 per hour
          Bradley S. Shraiberg, Esq.        $425 per hour

Prior to the Petition Date, 3611 Joint Venture LLC paid SFL a
$15,000 retainer and 247 West 38th Realty Corp. paid SFL a $20,000
retainer.  An insider of the Debtor controls 3611 Joint Venture
and 247 West.  The retainer letter governing the firm's engagement
provides that a person or entity will provide SFL with an
additional payment of $7,000 on behalf of the Debtor within 30
days and $8,000 within 60 days.

Mr. Shraiberg, a partner at SFL, attests that his firm does not
represent any interest adverse to the Debtor, its estates or its
creditors.

                     About MRA Pelican Pointe

MRA Pelican Pointe Apartments, LLC, owns an apartment complex
commonly known as Whispering Isles Apartments in Pompano Beach,
Florida.  The property was being managed by Aryeh Kieffer of Boca
Raton-based Addison Advisors.

Pre-bankruptcy, Fannie Mae initiated a foreclosure action against
the property  in the Circuit Court of the 17th Judicial Circuit in
and for Broward County, Florida.  At Fannie Mae's behest, Margaret
Smith of Glass Ratner Advisory & Capitol Group LLC was appointed
as receiver.  The receiver has administered and operated the
apartment complex since May 17, 2011.

MRA Pelican filed for Chapter 11 bankruptcy (Bankr. S.D. Fla. Case
No. 11-32457) on Aug. 10, 2011.  Addison Advisors' Mr. Kieffer
signed the petition.  The Debtor's bankruptcy counsel is:

          Bradley S. Shraiberg, Esq.
          SHRAIBERG, FERRARA, & LANDAU P.A.
          2385 NW Executive Center Drive, #300
          Boca Raton, FL 33431
          Tel: (561) 443-0801
          Fax: (561) 998-0047
          E-mail: bshraiberg@sfl-pa.com

In its schedules, the Debtor listed $12,003,200 in assets and
$14,661,009 in debts.

Fannie Mae is represented by Gary M. Freedman, Esq., and Mark S.
Roher, Esq., at Tabas, Freedman, Soloff, Miller & Brown, P.A.


MUNICIPAL MORTGAGE: Incurs $12.6-Mil. Net Loss in Second Quarter
----------------------------------------------------------------
Municipal Mortgage & Equity, LLC, filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q
reporting a net loss of $12.59 million on $20.07 million of total
interest income for the three months ended June 30, 2011, compared
with a net loss of $30.90 million on $23.18 million of total
interest income for the same period a year ago.

The Company also reported a net loss of $29.11 million on $41.93
million of total interest income for the six months ended June 30,
2011, compared with a net loss of $52.30 million on $46.45 million
of total interest income for the same period during the prior
year.

The Company's balance sheet at June 30, 2011, showed $1.94 billion
in total assets, $1.24 billion in total liabilities and $702.63
million in total equity.

The Company's ability to restructure its debt is especially
important with respect to its subordinated debentures.  The
weighted average pay rate on $196.7 million of subordinated
debentures was 2.08% at June 30, 2011.  The Company's pay rates
are due to increase in the first and second quarters of 2012,
which will bring the weighted average pay rate to approximately
8.6%.  The Company does not currently have the liquidity to meet
these increased payments.  In addition, substantially all of the
Company's assets are encumbered, which limits its ability to
increase its liquidity by selling assets or incurring additional
indebtedness.  There is also uncertainty related to the Company's
ability to liquidate non-bond related assets at sufficient amounts
to satisfy associated debt and other obligations and there are a
number of business risks surrounding the Company's bond investing
activities that could impact the Company's ability to generate
sufficient cash flow from the bond portfolio.

In the event management is not successful in restructuring or
settling its remaining non-bond related debt, or in generating
liquidity from the sale of non-bond related assets, or if the bond
portfolio net interest income and the common equity distributions
the Company receives from its subsidiaries are substantially
reduced, the Company may have to consider seeking relief through a
bankruptcy filing.  Collectively, these factors raise substantial
doubt about the Company's ability to continue as a going concern.

As reported by the TCR on April 6, 2011, KPMG LLP, in Baltimore,
Maryland, expressed substantial doubt about Municipal Mortgage &
Equity's ability to continue as a going concern.  The independent
auditors noted that the Company has been negatively impacted by
the deterioration of the capital markets and has liquidity issues
which have resulted in the Company having to sell assets,
liquidate collateral positions, post additional collateral, sell
or close different business segments and work with its creditors
to restructure or extend its debt arrangements.

Municipal Mortgage reported a net loss of $72.5 million on
$107.7 million of total revenue for 2010, compared with a net loss
of $380.1 million on $134.8 million of total revenue for 2009.

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

                        http://is.gd/zEhZYo

                     About Municipal Mortgage

Baltimore, Md.-based Municipal Mortgage & Equity, LLC (Pink
Sheets: MMAB) -- http://www.munimae.com/-- was organized in 1996
as a Delaware limited liability company and is classified as a
partnership for federal income tax purposes.

When the Company became a publicly traded company in 1996, it was
primarily engaged in originating, investing in and servicing tax-
exempt mortgage revenue bonds issued by state and local government
authorities to finance affordable multifamily housing
developments.  Since then, the Company made several acquisitions
that significantly expanded its business.  However, in 2008, due
to the financial crisis, the Company began contracting its
business.

The Company has sold, liquidated or closed down all of its
different businesses except for its bond investing activities and
certain assets and residual interests related to the businesses
and assets that the Company sold due to its liquidity issues.

The Company has a majority position in International Housing
Solutions S.a.r.l., a partnership that was formed to promote and
invest in affordable housing in overseas markets.  In addition, at
Dec. 31, 2010, the Company has an unfunded equity commitment of
$5.1 million, or 2.67% of total committed capital with respect to
its role as the general partner to the South Africa Workforce
Housing Fund SA I ("SA Fund").  The SA Fund was formed to invest
directly or indirectly in housing development projects and housing
sector companies in South Africa.  A portion of the funding of SA
Fund is participating debt provided by the United States Overseas
Private Investment Corporation, a federal government entity, and
the remainder is equity primarily invested by institutional and
large private investors.  The Company expects to continue this
business.


NCO GROUP: Incurs $32.3 Million Net Loss in Second Quarter
----------------------------------------------------------
NCO Group, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q reporting a net loss
of $32.30 million on $373.86 million of total revenues for the
three months ended June 30, 2011, compared with a net loss of
$25.32 million on $401.04 million of total revenues for the same
period a year ago.

The Company also reported a net loss of $75.60 million on $748.58
million of total revenues for the six months ended June 30, 2011,
compared with a net loss of $39.65 million on $824.61 million of
total revenues for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $1.18 billion
in total assets, $1.16 billion in total liabilities and $15.11
million in total stockholders' equity.

Commenting on the results, Ronald A. Rittenmeyer, president and
chief executive officer, stated, "While our revenue results were
lower than 2010, driven in large part by the continued changes in
economic conditions, we continued to effectively manage EBITDA as
a result of tight controls throughout the organization.  We
continue to see positive sales activity and are placing greater
emphasis on quality of deals going forward."

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

                        http://is.gd/m6xtls

                        About NCO Group Inc.

Based in Horsham, Pennsylvania, NCO is a global provider of
business process outsourcing services, primarily focused on
accounts receivable management and customer relationship
management.  NCO has over 25,000 full and part-time employees who
provide services through a global network of over 100 offices.
The company is a portfolio company of One Equity Partners and
reported revenues of about $1.2 billion for the twelve month
period ended Sept. 30, 2007.

The Company reported a net loss of $155.71 million on
$1.60 billion of revenue for the year ended Dec. 31, 2010,
compared with a net loss of $88.14 million on $1.58 billion of
revenue during the prior year.

                           *     *     *

As reported by the Troubled Company Reporter on Feb. 2, 2011,
Moody's Investors Service downgraded NCO Group, Inc.'s CFR to Caa1
from B3 and changed the outlook to negative.  Simultaneously,
Moody's has also downgraded each of NCO's debt instrument ratings
by one notch and lower the Speculative Grade Liquidity rating to
SGL-4 from SGL3.  The downgrade reflects Moody's concern that
greater than expected revenue declines and continued earnings
pressure will extend beyond current levels due to deteriorating
consumer payment patterns and weaker volumes.  In addition,
Moody's expects financial flexibility will be further aggravated
by tightening headroom under its financial covenants and a
potential breach of covenants which will limit the company's
ability to draw upon its revolver.  Also, the company faces an
impending maturity on its $100 million senior secured revolving
credit facility due November of 2011.


NEBRASKA BOOK: NBC Posts $23.7 Million Net Loss in June 30 Quarter
------------------------------------------------------------------
NBC Acquisition Corp. filed its quarterly report on Form 10-Q,
reporting a net loss of $23.7 million on $69.6 million of revenues
for the quarter ended June 30, 2011, compared with a net loss of
$12.7 million on $72.4 million of revenues for the quarter ended
June 30, 2010.

Consolidated earnings before interest, taxes, depreciation,
amortization and reorganization items ("Adjusted EBITDA") was a
loss of $10.7 million for the quarter ended June 30, 2011, an
increase of $5.5 million from the quarter ended June 30, 2010.

The increase in the Adjusted EBITDA loss was primarily due to
higher selling, general and administrative expenses due to a
$4.6 million increase in professional fees related to
reorganization costs prior to filing Chapter 11 and due to lower
revenues.

The Company believes Adjusted EBITDA is useful in evaluating the
Company's results and provides additional information for
determining the Company's ability to meet debt service
requirements.

The Company's balance sheet at June 30, 2011, showed
$612.2 million in total assets, $675.3 million in total
liabilities, $14.1 million in Series A redeemable preferred stock,
and a stockholders' deficit of $77.2 million.

As of June 30, 2011, the Company had $124.4 million in cash
available to help fund working capital requirements.  Cash and
cash equivalents at March 31, 2011, were $56.4 million at
March 31, 2011.

                 Proposed Plan of Reorganization

On July 17, 2011, the Company filed with the Court a disclosure
statement and a proposed plan of reorganization.

The Plan does not provide for any recovery to holders of the
Company's existing equity securities.

The ultimate recovery to creditors or shareholders, if any, will
not be determined until confirmation of a plan of reorganization.

A hearing to consider the Plan is currently scheduled for Oct. 4,
2011.

A copy of the Form 10-Q is available at http://is.gd/nzQ81y

                   About Nebraska Book Company

Lincoln, Nebraska-based Nebraska Book Company, Inc., is one of the
leading providers of new and used textbooks for college students
in the United States.  Nebraska Book and seven affiliates filed
separate Chapter 11 petitions (Bankr. D. Del. Case Nos. 11-12002
to 11-12009) on June 27, 2011.  Hon. Peter J. Walsh presides over
the case.  lawyers at Kirkland & Ellis LLP and Pachulski Stang
Ziehl & Jones LLP, serve as the Debtors' bankruptcy counsel.  The
Debtors; restructuring advisors are AlixPartners LLC; the
investment bankers are Rothschild, Inc.; the auditors are Deloitte
& Touche LLP; and the claims agent is Kurtzman Carson Consultants
LLC.  As of the petition date, the Debtors had consolidated assets
of $657,215,757 and debts of $563,973,688.

JPMorgan Chase Bank N.A., as administrative agent for the DIP
lenders, is represented by lawyers at Richards, Layton & Finger,
P.A., and Simpson Thacher & Bartlett LLP.  J.P. Morgan Investment
Management Inc., the DIP arranger, is represented by lawyers at
Bayard, P.A., and Willkie Farr & Gallagher LLP.

An ad hoc committee of holders of more than 50% of the Debtors'
Second Lien Notes is represented by lawyers at Brown Rudnick.  An
ad hoc committee of holders of the Debtors' 8.625% unsecured
notes are represented by Milbank, Tweed, Hadley & McCloy LLP.


NEDAK ETHANOL: Incurs $2.3 Million Net Loss in Second Quarter
-------------------------------------------------------------
Nedak Ethanol, LLC, filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q reporting a net loss
of $2.28 million on $36.97 million of revenue for the three months
ended June 30, 2011, compared with a net loss of $3.21 million on
$21.44 million of revenue for the same period during the prior
year.

The Company also reported a net loss of $2.03 million on
$72.06 million of revenue for the six months ended June 30, 2011,
compared with a net loss of $1.49 million on $42.37 million of
revenue for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed
$85.44 million in total assets, $53.94 million in total
liabilities, all current, and $31.50 million in total members'
equity.

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

                        http://is.gd/JVSkK6

                        About NEDAK Ethanol

Atkinson, Neb.-based NEDAK Ethanol, LLC
-- http://www.nedakethanol.com/-- operates a 44 million gallon
per year ethanol plant in Atkinson, Nebraska, and produces and
sells fuel ethanol and distillers grains, a co-product of the
ethanol production process.  Sales of ethanol and distillers
grains began in January 2009.

The Company reported a net loss of $2.08 million on $94.77 million
of revenue for the year ended Dec. 31, 2010, compared with a net
loss of $9.23 million on $67.53 million of revenue during the
prior year.

As reported by the TCR on April 7, 2011, McGladrey & Pullen, LLP,
in Sioux Falls, South Dakota, expressed substantial doubt about
the Company's ability to continue as a going concern following the
Company's 2010 results.  The independent auditors noted that there
is uncertainty as to the Company's ability to cure credit
agreement defaults and, therefore, to secure additional funds
needed to fund ongoing operations.


NEW JERSEY ECONOMIC: Moody's Maintains 'Ba2' Rating on Bonds
------------------------------------------------------------
Moody's Investors Service maintains a Ba2 rating on the Kapkowski
Road Landfill Reclamation Improvement District Project Bonds.

RATING RATIONALE

The Ba2 rating and stable outlook reflect the healthy and growing
cash flow from the Jersey Mall Gardens Mall, whose payment-in-
lieu-of-tax (PILOT) payments secure the bonds; relatively diverse
and stable retail tenants and a good location adjacent to the New
Jersey Turnpike and Newark-Liberty International Airport near
densely populated areas. The Jersey Gardens Mall is owned by
Elizabeth Metromall LLC a subsidiary of Glimcher Realty Trust
(preferred stock rated B2). The bonds lack a debt reserve fund
(DSRF) and instead have a weak external liquidity support
agreement intended to provide timely payment of debt service.

STRENGTHS:

* Prime location with access to transportation and diverse
  tenants. Mall is the only value mega-mall in northern New Jersey
  offering a combination factory outlet and retail stores

* Current mall occupancy relative to square footage is high at
  99.9% (up from 96.6% in 2010) and total mall sales per square
  foot of $422 (up from $415 in 2010) are strong

* The PILOT payments assessed by the City of Elizabeth (rated A1)
  cannot be repealed. Failure to pay PILOTs results in a fixed
  annual property lien on the mall that is not subject to
  reduction in bankruptcy

* A PILOT payment shortfall if not remedied could result in
  foreclosure of the mall

* Mall has strong and growing cash flow and net income, with
  approximately 3x net income coverage of annual PILOT payments

CHALLENGES

* Lack of a Debt Service Reserve Fund and weak external liquidity
  support to ensure timely payment of debt service payments

* Weak economy and retail sector could trigger tenant bankruptcies
  that could diminish mall cash flow for PILOT payments

* Potential for increased retail competition in the service area

* No mortgage interest in the property for bondholders

* Rate covenant is only sum sufficient and investor protections
  are generally weaker than for comparable projects

SECURITY: PILOT payments made by the Jersey Gardens Mall owner in
Elizabeth. PILOTs are collected quarterly and paid directly to the
bond trustee through assignment by the City of Elizabeth. The
Landfill Improvement Act of New Jersey provides for imposition of
a special assessment as a back-up taxing mechanism to the lien of
PILOT payments. The city's assessment ordinance prescribes the
lien on the special assessment as $180 million and requires it to
be pay so long as the bonds are outstanding, or 30 years,
whichever is less. There is no mortgage interest in the property
for bond holders.

Rate Covenant: One times debt service coverage by PILOT payments.

Reserve Requirement: There is no debt service reserve fund.

There is an advancing agreement (expires April 1, 2031 or date on
which all bonds repaid) between Midland Loan Services and the
trustee, to support timely debt service payments in the event of a
cash flow interruption and delay in PILOT payments. Per the
advancing agreement, if the trustee does not receive the full
PILOT payment when due, then Midland Loan Services, as Standby
Liquidity Provider will be notified the day after the due date for
each PILOT payment and will be required to remit the delinquency
by the last business day prior to the respective debt service due
dates on April 1 and October 1. In Moody's opinion , a critical
weakness in the support agreement is that the requirement to remit
the PILOT shortfall is subject to a bank officer's reasonable
judgment of ultimate loan recovery. Therefore, it is conceivable
that the agreement would not cover all debt service shortfalls
under circumstances subject to the bank officer's judgment. The
lack of a debt service reserve fund and the requirement of only
sum sufficient debt service coverage from PILOT payments
effectively results in zero liquidity should Midland Loan Services
opt to withhold funding of PILOT shortfalls.

RECENT DEVELOPMENTS:

The mall's two floors of retail and theater space house 12 anchor
tenants that provide a mix of retailer and manufacturer outlets,
discount and off-price stores, restaurants and entertainment.
Since the mall's opening in 1999, occupancy has increased to
approximately 99.9% in 2011 from 91% in 2001. Current anchor
tenants include Bed Bath & Beyond; Burlington Coat Factory; Cohoes
Fashions; Daffy's; The Gap Outlet; Marshall's as well as Loew's
Theaters. No single tenant accounts for more than 10% of mall
rental income. While there have been some tenant bankruptcies all
tenants are reportedly current on their rents.

The 2011 mall occupancy levels relative to square footage are high
and sales per square foot of $422 are strong and up from $415 in
2010.

Mall cashflow yields annual net revenues that are more than double
the annual PILOT payments after debt service is paid and triple
the annual PILOT payment, further underscoring Moody's expectation
that Glimcher has strong motivation to make its quarterly PILOT
payment to the bond trustee.

No major capital improvement or expansions are currently planned
and only normal capital expenditures to maintain the property are
expected.

The most recent property appraisal was $288 million in 2004 and
net book value was $178.7 million as of June 30, 2010, compared to
the $10.55 million annual PILOT payments and $150 million of
outstanding debt.

BACKGROUND:

The outstanding Series 1998B and 2002 bonds financed
transportation infrastructure and environmental remediation of a
landfill site that was converted to the Jersey Gardens Mall - a
two level value-oriented retail and entertainment megamall with
approximately 1.3 million square feet of gross leasable area
located in Elizabeth (rated A1 stable outlook). The PILOTs were
approved in 1998 by the City of Elizabeth and the New Jersey
Metromall Urban Renewal Inc.(NJ Urban Renewal) - a subsidiary of
Glimcher Realty Trust- who is legally required to pay the PILOT
payments.

JG Elizabeth, LLC (the Company) was formed on June 9, 2004 for the
purpose of operating and holding the mall property for long-term
investment. The company is a wholly-owned subsidiary of Glimcher
Properties Limited Partnership (GPLP). The company owes quarterly
PILOT payments to NJ Urban Renewal. GPLP has made the payments
directly to the City of Elizabeth on behalf of on behalf of the
company and NJ Urban Renewal. The PILOT payments will terminate on
the date of the maturity of the bonds in 2031. The amount of the
annual PILOT payments increases 10.0% every five years until the
final payment is made. The payment for 2010 is $10.55 million.

There is insurance on the facility, coupled with legal covenants
to rebuild the facility in almost all cases in case of a disaster;
however, there are three situations in which insurance proceeds
may not be available for rebuilding:

1. if a casualty occurs after a monetary event of default on the
   existing or future mall mortgage;

2. if a future mortgage has been foreclosed upon; or,

3. if rebuilding of the of the project after a casualty cannot be
   completed prior to the maturity date of the existing mortgage

PILOT payments agreed to in 1998 by the City of Elizabeth and
Glimcher provide satisfactory coverage for the debt given that
PILOTs cannot be appealed, the par value of the liens generally
cannot be reduced in the case of a bankruptcy, and the property
cannot be divided for resale until final debt maturity. If there
is a shortfall of PILOT payments the payments cannot not be
accelerated. Rather, the PILOT will be subject to a municipal lien
annually - to be collected prior to the next bond year - at the
agreed upon amount. If the payment is not made in full, the land
will then be subject to a tax lien sale on April 1st of the year
following the arrearage in accordance with a statutory procedure
enabling Elizabeth, on behalf of the trustee, to hold a tax lien
certificate sale. The purchase price at auction of the tax lien
must be at least par plus statutory accrued interest. The holder
of the auctioned tax lien may then later foreclose on the property
if the tax lien certificate is not paid within the statutory
period.
Outlook

The rating outlook is stable.

What Could Change the Rating - UP

Addition of a DSRF or other structural supports or enhanced
liquidity support could result in positive rating pressure.

What Could Change the Rating - DOWN

Sustained depressed retail sales; increasing tenant bankruptcies
or a sharp decline in the value of the mall asset could place
negative pressure on the rating.

KEY INDICATORS

Security: PILOT payments on New Jersey Gardens Mall

Debt Service Coverage, 2010: 1x

PILOT Debt Service Paid, 2010: $8.163 million

Final Maturity: 4/1/31

Mall Occupancy: 99.9% (as of 2011)

Debt Outstanding: $150 million

ISSUER CONTACT:

Richard Burkhardt

Director of Treasury, Glimcher Realty Trust

614-887-5889

The last rating action on these bonds was on September 29, 2010
when Moody's downgraded the rating to Ba2 from Baa3.

Bond ratings were assigned by evaluating factors believed to be
relevant to the credit profile of the issuer such as i) the
business risk and competitive position of the issuer versus others
within its industry or sector, ii) the capital structure and
financial risk of the issuer, iii) the projected performance of
the issuer over the near to intermediate term, iv) the issuer's
history of achieving consistent operating performance and meeting
budget or financial plan goals, v) the nature of the dedicated
revenue stream pledged to the bonds, vi) the debt service coverage
provided by such revenue stream, vii) the legal structure that
documents the revenue stream and the source of payment, and viii)
and the issuer's management and governance structure related to
payment.


NEWPAGE CORP: Incurs $132MM Q2 Net Loss, Warns of Bankruptcy
------------------------------------------------------------
NewPage Corporation filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q reporting a net loss
of $132 million on $888 million of net sales for the second
quarter ended June 30, 2011, compared with a net loss of $174
million on $890 million of net sales for the same period a year
ago.

The Company also reported a net loss of $220 million on $1.79
billion of net sales for the first half ended June 30, 2011,
compared with a net loss of $349 million on $1.70 billion of net
sales for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $3.36 billion
in total assets, $4.24 billion in total liabilities and a $879
million total deficit.

"During the quarter, we were able to realize improved pricing even
as we experienced inflationary pressure and some softening in
demand for our core products," said George F. Martin, president
and chief executive officer for NewPage.

As of June 30, 2011, the Company's current liabilities exceeded
its current assets by $2,502 million.  This deficit results from
the classification of the Company's First-Lien Notes, the
Company's Second-Lien Notes, and the Company's revolving credit
facility as current liabilities.  The Company has retained
advisors to assist it in exploring various restructuring
alternatives and is engaged in discussions with various
stakeholders to address its ongoing capital needs.  The Company
cannot assure that it will be able to refinance any of its
indebtedness, or that it will be able to do so on commercially
reasonable terms.  If the Company is unable to refinance its debt
or generate sufficient cash flow to service its obligations, the
Company will be required to seek to restructure its existing debt
or to voluntarily seek, or be forced to seek, protection under the
Chapter 11 of the U.S. Bankruptcy Code and applicable Canadian
laws.

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

                        http://is.gd/puY6er

                        Potential Chapter 11

Eileen M. Adams, staff writer at Sun Journal, reports that local
officials are expressing concern about the NewPage paper company's
announcement hat it may be forced to file for Chapter 11
protection if it can't refinance its debt or generate sufficient
cash flow.

According to the report, Ron Hemingway, recording secretary for
Local 900 of the United Steelworkers, said a corporate
spokesperson told the union about a month ago that a Chapter 11
filing was a possibility.

The report says Rumford Town Manager Carlo Puiia said that he has
tried to contact mill management to discuss the financial
situation but has so far been unsuccessful.

NewPage, which is owned by the private equity investment firm
Cerberus, said in its second quarter financial report that it has
retained advisers to explore restructuring alternatives and is in
discussions with various stakeholders to address capital needs.

                        About NewPage Corp.

Headquartered in Miamisburg, Ohio, NewPage Corporation --
http://www.NewPageCorp.com/-- is a coated paper manufacturer in
North America, based on production capacity, with $3.1 billion in
net sales for the year ended Dec. 31, 2009.  The company's
product portfolio is the broadest in North America and includes
coated freesheet, coated groundwood, supercalendered, newsprint
and specialty papers.  These papers are used for corporate
collateral, commercial printing, magazines, catalogs, books,
coupons, inserts, newspapers, packaging applications and direct
mail advertising.

NewPage owns paper mills in Kentucky, Maine, Maryland, Michigan,
Minnesota, Wisconsin and Nova Scotia, Canada.  These mills have a
total annual production capacity of approximately 4.4 million tons
of paper, including approximately 3.2 million tons of coated
paper, approximately 1.0 million tons of uncoated paper and
approximately 200,000 tons of specialty paper.

The Company reported a net loss of $674 million on $3.59 billion
of net sales for the year ended Dec. 31, 2010, compared with a net
loss of $318 million on $3.10 billion on net sales during the
prior year.

                           *     *     *

NewPage has 'Caa1' long term corporate family and probability of
default ratings from Moody's.

As reported by the TCR on Aug. 17, 2011, Standard & Poor's Ratings
Services lowered its corporate credit rating on Miamisburg, Ohio-
based NewPage Corp. to 'CCC' from 'CCC+'.

"The rating actions follow NewPage's recently announced weaker-
than-expected operating results for the quarter ended June 30,
2011, and the decision to hold off on its previously announced
asset sales," said Standard & Poor's credit analyst Tobias
Crabtree.  "Based on our lowered 2011 EBITDA expectations and the
likelihood of no additional material assets sales over the
upcoming months, we believe NewPage could be challenged to meet
its fixed charges, including over $160 million of cash interest
expense, during the remainder of 2011.  In addition, the company
faces significant debt maturities and the maturity of its
revolving credit facility within the next year if it cannot repay
or refinance its $1 billion of second-lien notes by December
2011."


NOMOTO INVESTMENTS: Case Summary & Largest Unsecured Creditor
-------------------------------------------------------------
Debtor: Nomoto Investments, LLC
        110 N. Doheny Drive
        Beverly Hills, CA 90211

Bankruptcy Case No.: 11-44542

Chapter 11 Petition Date: August 14, 2011

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

Debtor's Counsel: M. Douglas Flahaut, Esq.
                  ARENT FOX, LLP
                  555 W Fifth St., 48th fl
                  Los Angeles, CA 90013
                  Tel: (213) 443-7559
                  Fax: (213) 629-7401
                  E-mail: flahaut.douglas@arentfox.com

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

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

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

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Rabobank, N.A.            Deficiency             $10,500,000
5151 Stockdale Highway
Bakersfield, CA 93309

The petition was signed by Molse Tishbi, managing member.


NPS PHARMACEUTICALS: Amends Amgen Pact, To Retire Series B Notes
----------------------------------------------------------------
NPS Pharmaceuticals, Inc., announced that it intends to retire the
15.5% Secured Class B Notes when they become redeemable at par
value on Sept. 30, 2011.  The company also announced that it has
entered into an agreement with Amgen Inc. that becomes effective
after the retirement of the Class B Notes.  Under the Amgen
agreement, Amgen will advance $145 million of Sensipar/Mimpara
royalties to NPS.  After the repayment of the royalty advance and
a 9 percent per annum discount factor on the balance of the
advance, Amgen will resume paying royalties to NPS.  The repayment
of the royalty advance and discount will be satisfied solely by
Amgen's withholding of royalties and except in the event of
default, NPS will have no obligation to repay any unsettled
amount.

"We're pleased to extend our longstanding relationship with Amgen
in a way that benefits both companies," said Luke Beshar, senior
vice president and chief financial officer of NPS Pharmaceuticals.
"We expect this transaction to save NPS approximately $13 million
in interest expense over the next two years.  This is another
example of generating capital in a way that is in the best
interest of our shareholders as we prepare to commercialize our
two late-stage product candidates, GATTEX and NPSP558."

The Class B Notes originated in August 2007 through a private
placement.  The Class B Notes are non-recourse to NPS and solely
secured and serviced by the Company's revenues related to Sensipar
and Mimpara.  NPS will retire the Class B Notes utilizing existing
NPS resources.

A full-text copy of the Fourth Amendment to Development and
License Agreement is available for free at http://is.gd/ZGAJnG

                     About NPS Pharmaceuticals

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

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

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

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


NUMOBILE INC: Incurs $434,000 Net Loss in Second Quarter
--------------------------------------------------------
Numobile, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q reporting a net loss
of $434,450 on $61,850 of revenue for the three months ended
June 30, 2011, compared with a net loss of $803,383 on $185,104 of
revenue for the same period a year ago.

The Company also reported a net loss of $1.18 million on $118,243
of revenue for the six months ended June 30, 2011, compared with a
net loss of $2.02 million on $273,944 of revenue for the same
period during the previous year.

The Company's balance sheet at June 30, 2011, showed $3.31 million
in total assets, $9.05 million in total liabilities, all current,
and a $5.74 million total stockholders' deficit.

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

                        http://is.gd/lyG0xR

                        About Numobile Inc.

Louisville, Ky.-based NuMobile, Inc. (OTC BB: NUBL) currently
conducts its operations through its subsidiaries Enhance Network
Communications, Inc. and Stonewall Networks, Inc.  Enhance
provides a wide variety of services from infrastructure architect
to software as a service supplier.  Stonewall Networks has built
the Cornerstone Security Policy Manager.  Cornerstone, a
centralized IT security policy manager, is an engine for security
policy modeling, implementation, monitoring, enforcement, and
auditing.

The Company reported a net loss of $2.99 million on $403,331 of
revenue for the year ended Dec. 31, 2010, compared with a net loss
of $1.50 million on $177,815 of revenue during the prior year.

As reported by the TCR on April 7, 2011, Gruber and Company, LLC,
in Lake St. Louis, Missouri, expressed substantial doubt about the
Company's ability to continue as a going concern.  The independent
auditors noted that the Company has incurred a net loss of $2.99
million, used cash for operations of $564,669 for the year ended
Dec. 31, 2010, has an accumulated deficit of $12.34 million as of
Dec. 31, 2010 and has a working capital deficit of $9.29 million
as of Dec. 31, 2010.


NURSERYMEN'S EXCHANGE: Court OKs Epiq as Committee's Info Agent
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of California
authorized the Official Committee of Unsecured Creditors in the
Chapter 11 case of Nurserymen's Exchange, Inc., to retain Epiq
Bankruptcy Solutions, LLC, as information agent as of June 21,
2011.

The professional services Epiq will provide as the Committee's
information agent include:

   (a) creating and maintaining a Web site with general case
       information provided by the Committee, key documents, claim
       search function, and mirror of ECF case docket;

   (b) providing links to the Debtor's Web site, the Bankruptcy
       Court for the Northern District of California, and the
       Office of the United States Trustee;

   (c) providing contact information for the Debtor's and
       Committee's professionals;

   (d) maintaining an electronic inquiry form for creditors to
       submit questions and comments; and

   (e) providing other claims, noticing, balloting, and related
       administrative services as may be requested from time to
       time.

Epiq's primary responsibility will be creating and maintaining a
Web site of case information.  For this task, Epiq will receive a
Web site hosting fee of $200 per month, plus hourly rates ranging
from $36 to $265 for related services performed by its
professionals.

                   About Nurserymen's Exchange

Founded in 1941 as a San Francisco bulb brokerage business, and
currently based in Half Moon Bay in the San Francisco Bay Area,
Nurserymen's Exchange Inc. is a producer, broker and wholesaler of
home decor products incorporating indoor blooming plants,
specialty foliage, holiday grow kits, and potted edibles.

Nurserymen's Exchange filed a Chapter 11 petition (Bankr. N.D.
Calif. Case No. 11-31985) in San Francisco, California, on May 23,
2011.  Stephen D. Finestone, Esq., in San Francisco, serves as
counsel to the Debtor.  Omni Management Group, LLC, is the claims
and notice agent.  C&A, Inc., serves as financial advisor.  The
Debtor disclosed $34,755,036 in assets and $24,772,945 in
liabilities in its schedules.

An official committee of unsecured creditors has been appointed in
the case.  The panel has tapped lawyers at Landau Gottfried &
Berger LLP as counsel.

Katten Muchin & Rosenmann, LLP, as its special counsel. Chelliah &
Associates as its restructuring and turnaround consultants and
advisors. FocalPoint Securities, LLC, as investment banker and
financial advisor. Calegari & Morri as accountant. The Abernathy
MacGregor Group, Inc., as its corporate communications consultant.


O&G LEASING: Court Approves Summit Group as Financial Advisor
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Mississippi
authorized O&G Leasing LLC and Performance Drilling Company, LLC,
to employ Summit Group Partners as financial advisor.

SGP's principal, Kevin Lombardo, was previously associated with
General Capital Partners, which was previously employed by order
of the Court as the Debtors' financial advisors.

Mr. Lombardo was at all times the Debtors' primary contact and,
essentially, the only person with General Capital Partners
providing services and advice to the Debtors.

Mr. Lombardo is no longer with GCP, and is now employed as a
principal at SGP.   Because of this relationship with Mr. Lombardo
and his departure from GCP, the Debtors terminated their
relationship pursuant to the terms of their contract.

The Debtors seek to continue Mr. Lombardo's services, albeit on
different terms.

Mr. Lombardo is expected to provide the Debtors with most of the
services expected from SGP, and has agreed to perform these
services.  SGP will seek compensation at the hourly rate of
$250.00 per hour.

Jackson, Mississippi-based O&G Leasing, LLC, filed for Chapter 11
bankruptcy protection on May 21, 2010 (Bankr. S.D. Miss. Case No.
10-01851).  Douglas C. Noble, Esq., at McCraney Montagnet & Quin,
PLLC, assists the Company in its restructuring effort.  The
Company estimated $10 million to $50 million in assets and
$50 million to $100 million in liabilities.


O'FALLON HOSPITALITY: Case Summary & 20 Largest Unsec Creditors
---------------------------------------------------------------
Debtor: O'Fallon Hospitality, Inc.
        dba Holiday Inn Express Hotel & Suites
        c/o Maluk Dhami, President
        1986 Bridget Marie Drive
        Modesto, CA 95351

Bankruptcy Case No.: 11-20328

Chapter 11 Petition Date: August 16, 2011

Court: United States Bankruptcy Court
       Eastern District of Missouri (Hannibal)

Debtor's Counsel: Harry D. Boul, Esq.
                  One E. Broadway, Ste. B
                  Columbia, MO 65203
                  Tel: (573) 443-7000
                  E-mail: hboul@earthlink.net

Estimated Assets: $0 to $50,000

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/moeb11-20328.pdf

The petition was signed by Maluk Dhami, president.


OCEAN PLACE: Has Access to AFP's Cash Collateral Until Oct. 18
--------------------------------------------------------------
The Hon. Michael B. Kaplan of the U.S. Bankruptcy Court for the
District of New Jersey authorized, on a final basis, Ocean Place
Development LLC, to use the cash collateral of AFP 104 Corp.,
until Oct. 18, 2011.

The Debtor would use the cash collateral to pay ordinary and
reasonable operating expenses.

As adequate protection for any diminution in value of the lenders'
collateral, the Debtors will grant AFP a replacement lien in the
Debtor's postpetition property and proceeds thereof, and a
superpriority administrative claims status.

The Debtor will also make interest payments to AFP at a non-
default contract rate.

                About Ocean Place Development

Ocean Place Development owns the Ocean Place Resort & Spa, a
resort property is located on the Atlantic beachfront in Long
Branch, New Jersey, just 55 miles south of New York City and
82 miles north of Atlantic City.  The existing resort is sited on
17-acres featuring approximately 1,000 feet of ocean frontage and
is improved with a 254-room hotel that includes 40,000 square feet
of meeting space, three restaurants, a bar/lounge, a full-service
spa, and numerous resort amenities.

Ocean Place Development is wholly owned by Tiburon Ocean Place
LLC.  West Paces Hotel Group LLC is the resort's managing agent.
The number of people employed full time at the Debtor's property
ranges, depending on the season, between approximately 95 and 340.

Ocean Place Development filed for Chapter 11 protection (Bankr. D.
N.J. Case No. 11-14295) on Feb. 15, 2011.  Judge Michael B. Kaplan
presides over the case.  In its petition, the Debtor estimated
$50 million to $100 million in both assets and debts.


OPTIMUMBANK HOLDINGS: Incurs $1.9 Million Second Quarter Net Loss
-----------------------------------------------------------------
OptimumBank Holdings, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $1.97 million on $1.71 million of total interest
income for the three months ended June 30, 2011, compared with a
net loss of $2.12 million on $2.10 million of total interest
income for the same period a year ago.

The Company also reported a net loss of $3.12 million on $3.54
million of total interest income for the six months ended June 30,
2011, compared with a net loss of $5.23 million on $4.94 million
of total interest income for the same period during the prior
year.

The Company's balance sheet at June 30, 2011, showed
$176.15 million in total assets, $177.32 million in total
liabilities, and a $1.16 million total stockholders' deficit.

The Company reported a net loss of $8.45 million on $8.78 million
of total interest income for the year ended Dec. 31, 2010,
compared with a net loss of $11.48 million on $14.00 million of
total interest income during the prior year.

The Company's continuing high levels of nonperforming assets,
declining net interest margin, continuing high levels of
noninterest expenses related to the credit problems, and eroding
regulatory capital raise substantial doubt about the Company's
ability to continue as a going concern.

Moreover, as reported by the TCR on April 20, 2011, Hacker,
Johnson & Smith PA, in Fort Lauderdale, Florida, noted that the
Company's operating and capital requirements, along with recurring
losses 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/XDnXM9

                    About OptimumBank Holdings

Fort Lauderdale, Fla.-based OptimumBank Holdings, Inc. is a
is a one-bank holding company and owns 100% of OptimumBank, a
state (Florida)-chartered commercial bank.  The Bank offers a
variety of community banking services to individual and corporate
customers through its three banking offices located in Broward
County, Florida.  The Bank's wholly-owned subsidiaries are OB Real
Estate Management, LLC, OB Real Estate Holdings, LLC, OB Real
Estate Holdings 1503, LLC, and OB Real Estate Holdings 1695, LLC,
all of which were formed in 2009.  OB Real Estate Management, LLC,
is primarily engaged in managing foreclosed real estate.  OB Real
Estate Holdings, LLC, OB Real Estate Holdings 1503, LLC, and OB
Real Estate Holdings 1695, LLC, hold and dispose of foreclosed
real estate.

OptimumBank is currently operating under a Consent Order issued by
the Federal Deposit Insurance Corporation ("FDIC") and the State
of Florida Office of Financial ("OFR"), effective as of April 16,
2010.  As of Sept. 30, 2010, the Bank was considered
"undercapitalized" under these FDIC requirements.  As an
"undercapitalized" institution, the Bank is subject to
restrictions on capital distributions, payment of management fees,
asset growth and the acceptance, renewal or rollover of brokered
and high-rate deposits.  In addition, the Bank must obtain prior
approval of the FDIC prior to acquiring any interest in any
company or insured depository institution, establishing or
acquiring any additional branch office, or engaging in any new
line of business.

"The Bank [OptimumBank] has experienced recent and continuing
increases in nonperforming assets, declining net interest margin,
increases in provisions for loan losses, continuing high levels of
noninterest expenses related to the credit problems, and eroding
regulatory capital which raise substantial doubt about the Bank's
ability to continue as a going concern," the Company said in its
Form 10-Q for the quarter ended Sept. 30, 2010.


PMMB INVESTMENTS: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: PMMB Investments, LLC
        dba SanSai Japanese Grill
        820 Olive Street
        Saint Louis, MO 63101

Bankruptcy Case No.: 11-48664

Chapter 11 Petition Date: August 15, 2011

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

Judge: Barry S. Schermer

Debtor's Counsel: Spencer P. Desai, Esq.
                  DESAI EGGMANN MASON LLC
                  Pierre Laclede Center
                  7733 Forsyth Boulevard, Suite 2075
                  St. Louis, MO 63105
                  Tel: (314) 881-0800
                  Fax: (314) 881-0820
                  E-mail: sdesai@demlawllc.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/moeb11-48664.pdf

The petition was signed by Daniel A. Burns, member.


SALT POINT: Case Summary & 6 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Salt Point LLC
        23255 Highway 1
        Jenner, CA 95450

Bankruptcy Case No.: 11-13059

Chapter 11 Petition Date: August 16, 2011

Court: United States Bankruptcy Court
       Northern District of California (Santa Rosa)

Judge: Alan Jaroslovsky

Debtor's Counsel: Paul M. Jamond, Esq.
                  LAW OFFICES OF PAUL M. JAMOND
                  200 4th St. #300
                  Santa Rosa, CA 95401
                  Tel: (707) 526-4550
                  E-mail: jamond@pacbell.net

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

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

A list of the Company's six largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/canb11-13059.pdf

The petition was signed by Chuck Butler, sole & managing member
LLC.


SCHOMAC GROUP: Files Schedules of Assets and Liabilities
--------------------------------------------------------
The Schomac Group, Inc., filed with the Bankruptcy Court its
schedules of assets and liabilities, disclosing:

     Name of Schedule                   Assets      Liabilities
     ----------------                   ------      -----------
     A - Real Property             $28,826,380

     B - Personal Property         $20,103,517

     C - Property Claimed
         as Exempt

     D - Creditors Holding                          $21,615,068
         Secured Claims

     E - Creditors Holding                              $24,990
         Unsecured Priority Claims

     F - Creditors Holding                          $12,942,947
         Non-priority Claims
                                        ------      -----------
         Total                     $48,929,897      $34,583,005

Tucson, Arizona-based The Schomac Group, Inc., develops,
constructs, manages, and invests in residential, industrial, and
commercial real property.  Tedco, Inc., invests in real property
and in mortgages backed by real property.  Schomac Group and Tedco
filed for Chapter 11 bankruptcy (Bankr. D. Ariz. Case Nos. 11-
22717 and 11-22720) on Aug. 9, 2011.  Judge Eileen W. Hollowell
presides over the cases.  Mesch, Clark & Rothschild, P.C., serves
as the Debtors' counsel.  Attorney for secured lender LNV Corp. is
William Novotny, Esq., at Mariscal Weeks McIntyre & Friedlander,
PA.


SCHOMAC GROUP: Sec. 341 Creditors Meeting Set for Sept. 8
---------------------------------------------------------
The U.S. Trustee in Phoenix, Arizona, will convene a Meeting of
Creditors pursuant to 11 U.S.C. Sec. 341(a) in the bankruptcy
cases of The Schomac Group, Inc., and Tedco Inc. on Sept. 8, 2011,
at 12:00 p.m. at U.S. Trustee Meeting Room, James A. Walsh Court,
38 S. Scott Ave., St. 140, in Tucson.

The debtor's representative must be present at the meeting to be
questioned under oath by the trustee and by creditors.  Creditors
are welcome to attend, but are not required to do so. The meeting
may be continued and concluded at a later date without further
notice. The court, after notice and a hearing, may order that the
United States trustee not convene the meeting if the debtor has
filed a plan for which the debtor solicited acceptances before
filing the case.

                 About The Schomac Group & Tedco

Tucson, Arizona-based The Schomac Group, Inc., develops,
constructs, manages, and invests in residential, industrial, and
commercial real property.  Tedco, Inc., invests in real property
and in mortgages backed by real property.  Schomac Group and Tedco
filed for Chapter 11 bankruptcy (Bankr. D. Ariz. Case Nos. 11-
22717 and 11-22720) on Aug. 9, 2011.  In its schedules, Schomac
Group listed $48,929,897 in total assets and $34,583,005 in total
liabilities.  Judge Eileen W. Hollowell presides over the cases.
Mesch, Clark & Rothschild, P.C., serves as the Debtors' counsel.

Attorney for secured lender LNV Corp. is William Novotny, Esq., at
Mariscal Weeks McIntyre & Friedlander, PA.


SCHOMAC GROUP: Has Permission to Hire Mesch Clark as Counsel
------------------------------------------------------------
The Schomac Group, Inc., and Tedco Inc. won Bankruptcy Court
permission to employ Mesch, Clark & Rothschild, P.C., as their
bankruptcy counsel.

The hourly rates of the MC&R attorneys and staff who may work on
the Debtors' case are:

          Michael McGrath, Esq.            $495
          Frederick J. Petersen, Esq.      $350
          Partners                         $250 - $500
          Associates                       $200 - $300
          Paralegals                       $160
          Legal Assistants                  $85 - $115
          Law Clerks                       $100

Michael McGrath, Esq., attests that his firm does not represent
any other entity having an adverse interest in connection with the
Debtors' cases.

                 About The Schomac Group & TEDCO

Tucson, Arizona-based The Schomac Group, Inc., develops,
constructs, manages, and invests in residential, industrial, and
commercial real property.  Tedco, Inc., invests in real property
and in mortgages backed by real property.  Schomac Group and Tedco
filed for Chapter 11 bankruptcy (Bankr. D. Ariz. Case Nos. 11-
22717 and 11-22720) on Aug. 9, 2011.  In its schedules, Schomac
Group listed $48,929,897 in total assets and $34,583,005 in total
liabilities.  Judge Eileen W. Hollowell presides over the cases.

Mesch, Clark & Rothschild, P.C., serves as the Debtors' counsel.
The firm may be reached at:

          Michael McGrath, Esq.
          Frederick J. Petersen, Esq.
          MESCH, CLARK & ROTHSCHILD, P.C.
          259 North Meyer Avenue
          Tucson, AZ 85701
          Tel: (520) 624-8886
          Fax: (520) 798-1037
          E-mail: ecfbk@mcrazlaw.com
                  mmcgrath@mcrazlaw.com
                  fpetersen@mcrazlaw.com

Attorney for secured lender LNV Corp. is William Novotny, Esq., at
Mariscal Weeks McIntyre & Friedlander, PA.


SCHOMAC GROUP: Hiring Dennis Winans CPA as Consultant
-----------------------------------------------------
The Schomac Group, Inc., and Tedco, Inc., seek to establish a
procedure for the retention and compensation of Dennis Winans, CPA
who, according to papers filed in Court, "is, or may be held to
be, professionals under the requirements of the Bankruptcy Code,
but who is not directly involved in the Debtors' restructuring and
will not be receiving significant monthly payments from the
Debtors on account of his fees and costs."

The Debtors customarily retain the services of Dennis Winans, CPA
to assist them in matters arising in the ordinary course of their
businesses.  Mr. Winans is the former President of the Debtors,
and was a long time member of their senior management team.  As a
cost saving measure, Mr. Winans was transitioned from a full time
employee to a consultant who is paid on an hourly basis.

The Debtors do not believe that Dennis Winans, CPA has an interest
materially adverse to the Debtors, their estates, creditors or
interest holders.

The Debtors said there is a significant risk that Dennis Winans,
CPA would be unwilling to provide services, and might suspend
services pending a specific Court order authorizing the services.
Moreover, requiring Dennis Winans, CPA to file retention pleadings
and participate in the payment approval process along with the
Chapter 11 professionals would unnecessarily burden the Clerk's
Office, the Court and the Office of the United States Trustee,
while adding significantly to the administrative costs of these
cases without any corresponding benefit to the Debtors' estates.

The Debtors propose that they be permitted to pay, without formal
application to the Court by Dennis Winans, CPA, fees at an hourly
rate of $90 plus expenses, with monthly fees and costs not to
exceed $9,000 per month.

Payments to Dennis Winans, CPA would become subject to Court
approval pursuant to an application for allowance of fees and
expenses under sections 330 and 331 of the Bankruptcy Code,
pursuant to the same procedures that are established for Chapter
11 professionals, only if the payments exceed 110% of the $9,000
cap.

                 About The Schomac Group & TEDCO

Tucson, Arizona-based The Schomac Group, Inc., develops,
constructs, manages, and invests in residential, industrial, and
commercial real property.  Tedco, Inc., invests in real property
and in mortgages backed by real property.  Schomac Group and Tedco
filed for Chapter 11 bankruptcy (Bankr. D. Ariz. Case Nos. 11-
22717 and 11-22720) on Aug. 9, 2011.  In its schedules, Schomac
Group listed $48,929,897 in total assets and $34,583,005 in total
liabilities.  Judge Eileen W. Hollowell presides over the cases.
Mesch, Clark & Rothschild, P.C., serves as the Debtors' counsel.

Attorney for secured lender LNV Corp. is William Novotny, Esq., at
Mariscal Weeks McIntyre & Friedlander, PA.


SCHOMAC GROUP: Seeks to Use YSI Dividends & Rents
-------------------------------------------------
The Schomac Group, Inc., and Tedco, Inc., seek to use the
dividends received from their ownership stake in U-Store-It L.P.
and the rents from Schomac Group's office building at 6418 E.
Tanque Verde Road in Tucson, Arizona, to fund expenses while in
bankruptcy.

The Debtors said the dividends and the rents constitute cash
collateral securing loan obligations to LNV Corp.

The Schomac Group entered into a $25,000,000 revolving line of
credit agreement with First National Bank of Arizona pursuant to a
Business Loan Agreement dated April 12, 2006, as modified.  LNV
Corp., a subsidiary of Beal Bank, is the holder in due course of
the note and the beneficiary under the Deed of Trust and security
agreements. The principal balance owed on the Loan is $17,709,053.

The LNV Loan is to be secured by (a) a Deed of Trust encumbering
Schomac's interest in two commercial lots in Marana, Arizona, (b)
a Deed of Trust encumbering Schomac's interest in the E. Tanque
Verde Road property, (c) Schomac's interest in 2,279,473.57 Class
B Units of U-Store-IT, along with all proceeds from those shares,
and (d) Tedco's interest in an additional 454,009.51 Class B Units
of U-Store-IT, along with all proceeds from those shares.

The Debtors said the claims of LNV are adequately protected by
equity in the property securing the loans.

The Debtors said the E. Tanque Verde Road property is valued at
roughly $875,000 and commercial lots in Marana Arizona are valued
at roughly $415,000.

The Class B shares of U-Store-IT, held by Schomac and Tedco, which
further secure the LNV Loan, are all readily convertible into a
like number of common shares of U-Store-It Trust, a Maryland real
estate investment trust.  The common shares of U-Store-It Trust
are publicly traded on the NYSE under the symbol "YSI".  The
price of YSI shares at the close of trading on Aug. 8, 2011, was
$8.72 per share. Based on this closing price, the current market
value of the 2,279,473.57 Class B shares held by Schomac is
$19,877,009.53, and the market value of the 454,009.51 Class B
shares held by Tedco is $3,958,962.93.

On July 22, 2011, YSI issued a quarterly dividend to its
shareholders, including Schomac and Tedco.  Schomac received
$159,563.15 and Tedco received $31,780.67.  LNV asserts a lien
against such proceeds.  The proceeds continue to be held by
Schomac and Tedco.

The Debtors propose to provide adequate protection by granting LNV
replacement liens on the new dividends received and in future rent
proceeds, to the nature, extent and priority of their prepetition
liens.  Furthermore, the Debtors will provide the lenders adequate
protection by using cash collateral to maintain the insurance and
continue operation of its business.

The Debtors pointed out that since LNV will receive a replacement
lien for income produced by the Debtors post-petition, and LNV's
claims are secured by real and personal property and there is no
evidence the real property is likely to depreciate, LNV is not
entitled to adequate protection payments.

                 About The Schomac Group & TEDCO

Tucson, Arizona-based The Schomac Group, Inc., develops,
constructs, manages, and invests in residential, industrial, and
commercial real property.  Tedco, Inc., invests in real property
and in mortgages backed by real property.  Schomac Group and Tedco
filed for Chapter 11 bankruptcy (Bankr. D. Ariz. Case Nos. 11-
22717 and 11-22720) on Aug. 9, 2011.  In its schedules, Schomac
Group listed $48,929,897 in total assets and $34,583,005 in total
liabilities.  Judge Eileen W. Hollowell presides over the cases.
Mesch, Clark & Rothschild, P.C., serves as the Debtors' counsel.

Attorney for secured lender LNV Corp. is:

          William Novotny, Esq.
          MARISCAL WEEKS MCINTYRE & FRIEDLANDER, PA
          2901 N. Central Avenue, Suite 200
          Phoenix, AZ 857012-2705
          E-mail: William.novotny@mwmf.com


STELLAR GT: Counsel Must Serve Papers to Chapter 7 Entity
---------------------------------------------------------
In an Aug. 17, 2011 Memorandum, a copy of which is available at
http://is.gd/h1rJCnfrom Leagle.com, Bankruptcy Judge Paul Mannes
directed the counsel to Stellar GT TIC LLC and VFF TIC LLC to
serve all papers filed in the Debtors' cases on Stellar GT Lessee,
LLC, a debtor in Chapter 7 Case No. 10-17376 (Bankr. D. Md.),
pending before the Hon. Wendelin I. Lipp.  Gary A. Rosen is the
duly appointed Chapter 7 trustee for Stellar GT Lessee.  Kevin
Newman of Greystar Management Services LP is the receiver of
Stellar GT Lessee pursuant to orders of the Circuit Court for
Montgomery County, Maryland.

                         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.

W. Clarkson McDow, Jr., U.S. Trustee for Region 4, has not
appointed an unsecured creditors' committee in the Debtors' cases.
The U.S. Trustee will appoint an unsecured creditors' committee
upon the request of an adequate number of eligible unsecured
creditors.


STONY POINT LAND: Dist. Ct. Affirms Ruling in Hubbard Suit
----------------------------------------------------------
District Judge John A. Gibney, Jr., affirmed a final order of the
U.S. Bankruptcy Court for the Eastern District of Virginia
awarding judgment in favor of Stony Point Land, Inc., and against
Thomas R. Hubbard and Katherine Hubbard, and dismissing Count II
of the Hubbards' complaint for breach of contract and Count I of
Stony Point's counterclaim for specific performance.

The District Court appeal arises out of a civil action filed by
the Hubbards in the Circuit Court for the City of Richmond on
Jan. 5, 2009, alleging, in two separate counts: (1) that Stony
Point violated the Virginia Property Owners' Association Act, Va.
Code Sections 55.508, et seq., by failing to make a valid delivery
of the Property Owner's Association disclosure packet; and (2)
that Stony Point breached its real estate purchase agreement with
the Hubbards dated Sept. 21, 2006.  Stony Point filed a
Counterclaim requesting specific performance of the contract to
purchase the lot (Counterclaim Count I) or, in the alternative, an
award of damages (Counterclaim Count II).  On Sept. 29, 2009,
Judge Richard Taylor, Jr., ruled against the Hubbards with respect
to Count I of their Complaint and entered an order dismissing the
claim.  On Oct. 13, 2009, Stony Point non-suited Count II of the
Counterclaim, leaving only Count II of the Complaint and Count I
of the Counterclaim remaining.

The Hubbards and the Debtor are parties to a Sept. 21, 2006 real
estate purchase agreement to purchase Lot 2 from Stony Point in a
planned 13-lot subdivision.  The purchase price was $450,000 with
the Hubbards paying a deposit of $45,000 upon execution of the
Agreement.

Upon filing for bankruptcy, Stony Point removed the State Court
Action to the Bankruptcy Court.  The Bankruptcy Court allowed
Judge Taylor's previous rulings to stand, without permitting the
Hubbards to re-litigate the issues decided in state court.  The
Bankruptcy Court then held a trial in which it ultimately found in
Stony Point's favor on the remaining claims not decided in state
court.  The Hubbards timely filed a Notice of Appeal.

The District Court case is Thomas R. Hubbard, et al., v. Stony
Point Land, INC., Civil Action No. 3:11CV237 (E.D. Va.).  A copy
of Judge Gibney's Aug. 15, 2011 Memorandum Opinion is available at
http://is.gd/2HsdZsfrom Leagle.com.

                      About Stony Point Land

Based in Richmond, Virginia, Stony Point Land, Inc., filed for
Chapter 11 bankruptcy (Bankr. E.D. Va. Case No. 10-31740) on
March 12, 2010.  Roy M. Terry, Jr., Esq. --
rterry@durrettebradshaw.com -- at DurretteBradshaw PLC in
Richmond, serves as bankruptcy counsel.  In its petition, the
Debtor estimated assets and debts of $1 million to $10 million.


STRANAHAN INDUSTRIES: Case Summary & 2 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Stranahan Industries, Inc.
        663 State Route 149
        Lake George, NY 12845

Bankruptcy Case No.: 11-12629

Chapter 11 Petition Date: August 17, 2011

Court: U.S. Bankruptcy Court
       Northern District of New York (Albany)

Judge: Robert E. Littlefield, Jr.

Debtor's Counsel: Robert J. Rock, Esq.
                  LAW OFFICE OF ROBERT J. ROCK
                  60 South Swan Street
                  Albany, NY 12210
                  Tel: (518) 463-5700
                  E-mail: attyrjrock@juno.com

Scheduled Assets: $2,305,000

Scheduled Debts: $283,925

A list of the Company's two largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/nynb11-12629.pdf

The petition was signed by Daniel Stranahan, president.


THOMAS GRABANSKI: Crop Production Services' Claim Is Dischargeable
------------------------------------------------------------------
Bankruptcy Judge William A. Hill ruled that the debt owed by
Thomas M. Grabanski to Crop Production Services, Inc. is
dischargeable.  CPS has sued the Debtor seeking a determination
that the balance of $777,433.58, plus monthly accruing service
charges, owed by G&K Farms and personally guaranteed by the
Defendant, is nondischargeable.  The Defendant was a partner at
G&K Farms.

The lawsuit is styled, Crop Production Services, Inc., v. Thomas
M. Grabanski, Adv. Proc. No. 10-7033 (Bankr. D. N.Dak.).  A copy
of Judge Hill's Aug. 18, 2011 Memorandum and Order is available at
http://is.gd/qk6U7Afrom Leagle.com.

Based in Grafton, North Dakota, Thomas M. Grabanski and Mari K.
Grabanski aka Grabanski Grain LLC filed for Chapter 11 bankruptcy
protection (Bankr. D. N.Dak. Case No. 10-30902) on July 22, 2010.
Judge William A. Hill presides the case.  DeWayne Johnston, Esq.,
at Johnston Law Office, represents the Debtor.  The Debtor
estimated assets of between $1 million and $10 million, and debts
of $10 million and $50 million.


UHA CORPORATION: Files for Bankruptcy in Columbus, Ohio
-------------------------------------------------------
Carla Main at Bloomberg News reports that UHA Corp. filed for
bankruptcy protection (Bankr. S.D. Ohio Case No. 11-br-58456) in
Columbus, Ohio, on Aug. 16, declaring assets of as much as $10
million and liabilities of as much as $50 million.  All of the
equity of the Columbus, Ohio-based company is owned by Uziel
Haimoff, who was identified as the managing member of the company
in court papers.  The largest unsecured creditor is Bank of
America Corp., with a claim of $13.6 million, of which $9.58
million is secured. The claim is "unliquidated" and "disputed,"
according to a statement by UHA in a court filing.


UHA CORPORATION: Case Summary & Largest Unsecured Creditor
----------------------------------------------------------
Debtor: UHA Corporation LLC
        c/o Uziel Haimoff
        1943 Malvern Rd
        Columbus, OH 43221

Bankruptcy Case No.: 11-58456

Chapter 11 Petition Date: August 15, 2011

Court: United States Bankruptcy Court
       Southern District of Ohio (Columbus)

Judge: C. Kathryn Preston

Debtor's Counsel: Robert J. Morje, Esq.
                  P.O. Box 6545
                  600 South Pearl Street
                  Columbus, OH 43206
                  Tel: (614) 224-8000
                  Fax: (614) 588-8826
                  E-mail: rmorje.attorney@gmail.com

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

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

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

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Bank of America, National                        $13,620,000
Ass.
c/o C-III Asset
Management LLC
5221 N O'Connor Blvd,
Suite 600
Irving, TX 75039

The petition was signed by Uziel Haimoff, managing member.


UPSTATE HEIGHTS: Case Summary & Largest Unsecured Creditor
----------------------------------------------------------
Debtor: Upstate Heights LLC
        72 Horton Dr
        Monsey, NY 10952

Bankruptcy Case No.: 11-23650

Chapter 11 Petition Date: August 15, 2011

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

Judge: Robert D. Drain

Debtor's Counsel: Joshua N. Bleichman, Esq.
                  BLEICHMAN & KLEIN
                  268 Route 59
                  Spring Valley, NY 10977
                  Tel: (845) 425-2510
                  Fax: (845) 425-7362
                  E-mail: bleichmanklein@yahoo.com

Scheduled Assets: $650,714

Scheduled Debts: $2,228,383

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

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Sulco Development Corp.   Upstate Heights,       $2,228,383
739 Chucrh Ave            Hilldale Road,
Brooklyn, NY 11218        Hurleyville, NY 12747

The petition was signed by Mozes Reisman.


WASTE2ENERGY HOLDINGS: Aug. 26 Hearing on Bid for Ch. 11 Trustee
----------------------------------------------------------------
The Bankruptcy Court will convene a hearing on a motion by
creditors for the appointment of a Chapter 11 trustee for
Waste2Energy Holdings, Inc., on Aug. 26, 2011, at 10:00 a.m. at US
Bankruptcy Court, 824 Market St., 5th Fl., Courtroom #5, in
Wilmington, Delaware.  Objections are due by Aug. 23, 2011.  The
petitioning creditors' motion for appointment of a trustee is
reported in the Aug. 11 edition of the Troubled Company Reporter.

                    About Waste2Energy Holdings

Greenville, South Carolina-based Waste2Energy Holdings, Inc. (Pink
Sheets: WTEZ) -- http://www.waste2energy.com/-- is a "cleantech"
technology company that designs, builds, installs and sells waste
to energy plants that generate "Renewable Green Power" converting
biomass or other solid waste streams traditionally destined for
landfills into clean renewable energy.

The Company's balance sheet at June 30, 2010, showed $3.4 million
in total assets, $11.7 million in total liabilities, and a
stockholders' deficit of $8.3 million.

On Oct. 30, 2010, $87,500 of principal amount of the Company's 12%
Senior Convertible Debentures became due.  On Nov. 2, 2010,
$40,000 of principal amount of the Debentures became due.  The
Company did not make the required payment on the maturity date or
by the cure period provided by the Debentures and as result an
Event of Default under the Debentures has occurred.

As reported in the Troubled Company Reporter on July 19, 2010,
Marcum LLP, in New York, expressed substantial doubt the Company's
ability to continue as a going concern, following its results for
the fiscal year ended March 31, 2010.  The independent auditors
noted that the Company has incurred a significant loss from
continuing operations of $11.7 million and used cash of
$5.2 million for continuing operations which resulted in an
accumulated deficit of $30.4 million and a working capital
deficiency of $6.6 million as of March 31, 2010.

On Aug. 8, 2011, four creditors filed an involuntary Chapter 11
petition against Waste2Energy Holdings (Bankr. D. Del. Case No.
11-12504).  Judge Kevin J. Carey presides over the case.  The
petitioning creditors, allegedly owed $3.2 million in the
aggregate, are represented by Frederick B. Rosner, Esq., at The
Rosner Law Group, LLC.


* BOND PRICING -- For Week From Aug. 15 - 19, 2011
--------------------------------------------------

  Company              Coupon   Maturity  Bid Price
  -------              ------   --------  ---------
AMBAC INC               9.375   8/1/2011     9.000
AMBAC INC               9.500  2/15/2021    13.500
AMBAC INC               7.500   5/1/2023    12.105
ACARS-GM                8.100  6/15/2024     1.000
AHERN RENTALS           9.250  8/15/2013    40.400
AMERICAN ORIENT         5.000  7/15/2015    51.526
BANK NEW ENGLAND        8.750   4/1/1999    14.000
BANK NEW ENGLAND        9.875  9/15/1999    13.500
BANKUNITED FINL         6.370  5/17/2012     7.100
BANKUNITED FINL         3.125   3/1/2034     7.100
C-CALL09/11             5.500 11/15/2029   100.000
CAPMARK FINL GRP        5.875  5/10/2012    53.500
CIRCUS & ELDORAD       10.125   3/1/2012    79.000
CQB-CALL08/11           8.875  12/1/2015   102.910
DECODE GENETICS         3.500  4/15/2011     0.500
DIRECTBUY HLDG         12.000   2/1/2017    32.750
DIRECTBUY HLDG         12.000   2/1/2017    41.000
BLOCKBUSTER INC        11.750  10/1/2014     3.750
DUNE ENERGY INC        10.500   6/1/2012    62.500
EDDIE BAUER HLDG        5.250   4/1/2014     5.625
ENERGY CONVERS          3.000  6/15/2013    44.250
EVERGREEN SOLAR         4.000  7/15/2013     3.625
EVERGREEN SOLAR        13.000  4/15/2015    58.250
EVERGREEN SOLAR         4.000  7/15/2020    13.000
FAIRPOINT COMMUN       13.125   4/1/2018     1.000
FAIRPOINT COMMUN       13.125   4/2/2018     1.250
GREAT ATLANTIC          9.125 12/15/2011    25.000
GREAT ATLA & PAC        6.750 12/15/2012    31.145
GLOBALSTAR INC          5.750   4/1/2028    59.750
HAWKER BEECHCRAF        8.500   4/1/2015    46.500
HAWKER BEECHCRAF        9.750   4/1/2017    37.000
HARRY & DAVID OP        9.000   3/1/2013     2.000
ELEC DATA SYSTEM        3.875  7/15/2023    90.500
HORIZON LINES           4.250  8/15/2012    54.800
LEHMAN BROS HLDG        6.625  1/18/2012    23.000
LEHMAN BROS HLDG        5.250   2/6/2012    23.000
LEHMAN BROS HLDG        6.000  7/19/2012    24.000
LEHMAN BROS HLDG        3.000 10/28/2012    25.125
LEHMAN BROS HLDG        3.000 11/17/2012    24.250
LEHMAN BROS HLDG        5.000  1/22/2013    25.750
LEHMAN BROS HLDG        5.625  1/24/2013    24.250
LEHMAN BROS HLDG        5.100  1/28/2013    25.300
LEHMAN BROS HLDG        5.000  2/11/2013    21.100
LEHMAN BROS HLDG        4.800  2/27/2013    25.500
LEHMAN BROS HLDG        4.700   3/6/2013    25.300
LEHMAN BROS HLDG        5.000  3/27/2013    25.000
LEHMAN BROS HLDG        5.750  5/17/2013    22.250
LEHMAN BROS HLDG        5.250  1/30/2014    24.250
LEHMAN BROS HLDG        4.800  3/13/2014    23.000
LEHMAN BROS HLDG        5.000   8/3/2014    25.300
LEHMAN BROS HLDG        6.200  9/26/2014    24.500
LEHMAN BROS HLDG        5.150   2/4/2015    25.000
LEHMAN BROS HLDG        5.250  2/11/2015    25.250
LEHMAN BROS HLDG        8.800   3/1/2015    24.500
LEHMAN BROS HLDG        7.000  6/26/2015    23.500
LEHMAN BROS HLDG        8.500   8/1/2015    23.000
LEHMAN BROS HLDG        5.000   8/5/2015    25.300
LEHMAN BROS HLDG        7.000 12/18/2015    25.625
LEHMAN BROS HLDG        5.500   4/4/2016    23.000
LEHMAN BROS HLDG        5.875 11/15/2017    23.000
LEHMAN BROS HLDG        6.875   5/2/2018    24.625
LEHMAN BROS HLDG        8.050  1/15/2019    23.833
LEHMAN BROS HLDG       11.000  6/22/2022    25.300
LEHMAN BROS HLDG       11.000  7/18/2022    24.500
LEHMAN BROS HLDG       11.500  9/26/2022    21.500
LEHMAN BROS HLDG        9.500  1/30/2023    22.625
LEHMAN BROS HLDG        9.500  2/27/2023    21.250
LEHMAN BROS HLDG        9.000   3/7/2023    19.775
LEHMAN BROS HLDG       10.000  3/13/2023    25.125
LEHMAN BROS HLDG       18.000  7/14/2023    25.750
LEHMAN BROS HLDG       10.375  5/24/2024    25.300
LEHMAN BROS INC         7.500   8/1/2026    15.000
LEHMAN BROS HLDG       11.000  3/17/2028    25.497
LIFEPT VILGE            8.500  3/19/2013    49.500
LOCAL INSIGHT          11.000  12/1/2017     2.250
LOCO-CALL08/11         11.750  12/1/2012   104.500
LOCO-CALL08/11         11.750 11/15/2013    99.400
MAJESTIC STAR           9.750  1/15/2011    18.000
MCMORAN EXPLORAT        5.250  10/6/2011    94.932
MCMORAN EXPLORAT        5.250  10/6/2011   101.000
MGIC INVT CORP          5.625  9/15/2011    99.500
NATRC-CALL08/11         9.250   3/1/2012    98.000
NEBRASKA BOOK CO        8.625  3/15/2012    49.500
NBC ACQ CORP           11.000  3/15/2013     8.640
NEWPAGE CORP           10.000   5/1/2012    11.500
NEWPAGE CORP           12.000   5/1/2013     2.500
RESTAURANT CO          10.000  10/1/2013    10.000
PMI CAPITAL I           8.309   2/1/2027     9.000
RIVER ROCK ENT          9.750  11/1/2011    80.900
RASER TECH INC          8.000   4/1/2013    29.760
SBARRO INC             10.375   2/1/2015     9.500
SPHERIS INC            11.000 12/15/2012     1.875
THORNBURG MTG           8.000  5/15/2013     5.250
TOUSA INC               9.000   7/1/2010    15.000
TIMES MIRROR CO         7.250   3/1/2013    44.900
MOHEGAN TRIBAL          8.000   4/1/2012    77.700
TRICO MARINE SER        8.125   2/1/2013     4.000
TRICO MARINE            3.000  1/15/2027     1.250
TEXAS COMP/TCEH         7.000  3/15/2013    29.000
TEXAS COMP/TCEH        10.250  11/1/2015    37.625
UNIVERSAL CORP          5.000   9/1/2011    99.000
VIRGIN RIVER CAS        9.000  1/15/2012    51.000
WESCO INTL              1.750 11/15/2026    89.000
WCI COMMUNITIES         4.000   8/5/2023     1.570
WINDERMERE BAPT         7.700  5/15/2012    18.000
WILLIAM LYONS           7.625 12/15/2012    29.000
WILLIAM LYON INC       10.750   4/1/2013    29.000
WILLIAM LYON INC        7.500  2/15/2014    20.000
WASH MUT BANK FA        5.125  1/15/2015     0.200



                           *********

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
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Monthly Operating Reports are summarized in every Saturday edition
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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.

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                  *** End of Transmission ***