TCR_Public/110824.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

           Wednesday, August 24, 2011, Vol. 15, No. 234

                            Headlines

785 PARTNERS: Creditor First Manhattan Asks Court to Dismiss Case
ALLEN FERGUSON: Dominion Realty Closes $2 Million Sale Deal
AMERICAN DIAGNOSTIC: Court Extends Deadline to File Plan to Oct. 1
AMERICAN DIAGNOSTIC: Access to Cash Collateral Extended to Oct. 1
AMN HEALTHCARE: Moody's Affirms 'Ba3' on "Slow Improvement"

ANDRONICO'S MARKET: Files for Bankruptcy, Will Sell Assets
ARK DEVELOPMENT: Made Illegal Petition Date Transfers, Says BB&T
ARK DEVELOPMENT: Seeks Use of Rental Income to Maintain Property
ARRAY BIOPHARMA: Posts $56.3 Million Net Loss in Fiscal 2011
ATCONTACT COMMS: Judge Invites Appeal Over Sec. 365(d)(3)

BERNARD L. MADOFF: Peter Madoff's Aston Martin Sells for $247,500
BESO LLC: Landry's Gets Court Approval to Operate Restaurant
BIOVEST INTERNATIONAL: Posts $1.8 Million Net Loss in June 30 Qtr.
BLUE DOLPHIN ENERGY: Incurs $413,900 2nd Quarter Net Loss
CAPMARK FINANCIAL: Aims to Implement $4-Bil. Plan by Sept. 30

CASCO HOTEL: Meeting of Creditors Scheduled for Sept. 26
CATHOLIC CHURCH: Wilmington Wins Confirmation of Ch. 11 Plan
CATHOLIC CHURCH: Wilm. Removal Period Extended Until Oct. 23
CATHOLIC CHURCH: Automatic Stay for Wilm. Parishes Extended
CAVIATA ATTACHED: Wants to Use Rental Income for Operating Costs

CENTRAL FEDERAL: Posts $1.91-Mil. Second Quarter Net Loss
COATES INTERNATIONAL: Incurs $536,000 Net Loss in Second Quarter
COMCAM INTERNATIONAL: Delays Filing of Quarterly Report
CONSOL ENERGY: S&P Puts 'BB' on Watch Positive After Noble Deal
CONVERSION SERVICES: June 30 Balance Sheet Upside Down by $3.84MM

COYOTES HOCKEY: Glendale Won't Sell Bonds to Facilitate Sale
CRYOPORT INC: Incurs $2 Million Net Loss in Second Quarter
CYTOCORE INC: Incurs $492,000 Net Loss in Second Quarter
CYTOMEDIX INC: Incurs $791,000 Second Quarter Net Loss
DAMON'INT'L: Franchise, Franchisor Assets Up for Sale

DELAMORE ELIZABETH: Major Tenant's Exit Doesn't Pose Threat
DESERT OASIS: Amends Disclosure Statement Prior to Hearing
DEX ONE: Cut by S&P to 'B-' as Business "Remains Under Pressure"
DIAMOND RANCH: Incurs $306,800 Net Loss in June 30 Quarter
DIGITILITI INC: Delays Filing of Quarterly Report on Form 10-Q

DREIER LLP: Trustee Says Clients Same as Ponzi Investors
DUTCH GOLD: Incurs $1.4 Million Net Loss in Second Quarter
EAT AT JOE'S: Reports $153,000 Net Income in Second Quarter
EDINBURG INVESTMENTS: Plans to Complete Business Venture in Ch. 11
ELBIT VISION: Posts $302,000 Second Quarter Net Income

ELITE PHARMACEUTICALS: Has $30.7-Mil. Net Loss in June 30 Quarter
ENER1 INC: Robbins Umeda Commences Probe on Possible Breaches
EVERGREEN SOLAR: Gets Letter From NASDAQ on Late Form 10-Q
FENTON SUB: Meeting of Creditors Continued Until Today
GSC GROUP: Employee Wants D&O Policy to Cover SEC Defense

GUARANTY FINANCIAL: Trustee Sues Temple-Inland, D&Os for $1-Bil.
GUARANTY FINANCIAL: KBW Shorted Clients' Shares, Trustee Says
GUIDED THERAPEUTICS: Incurs $496,000 Net Loss in Second Quarter
HALO COMPANIES: Incurs $1.2 Million Second Quarter Net Loss
HICKOK INCORPORATED: Posts $125,900 Net Loss in Q3 Ended June 30

HOLDINGS GAMING: Raised by S&P to 'CCC+' Due to PA Table Games
HORIZON BANCORP: Incurs $81,000 Net Loss in Second Quarter
HOWREY LLP: Sells Off Furniture as Part of Wind-Down
HUBBARD PROPERTIES: Dispute With IWA Sent to Mediation
HUDSON HEALTHCARE: City Counsel Gives Up Right to $2 Million Claim

HUDSON HEALTHCARE: U.S. Trustee Appoints 7-Member Creditor's Panel
INDIANAPOLIS DOWNS: Blasts Ex-Gen. Managers' Compensation Claims
INDUSTRIAL ENTERPRISES: Tabor Fights to Keep $1.52-Mil. of Stock
INNOVATIVE FOOD: Reports $562,600 Net Income in 2nd Quarter
INT'L COMMERCIAL: Swings to $5,500 Profit in Second Quarter

INTERNATIONAL RARITIES: Coin Firm, Mired in Suits, Seeks Ch. 11
J.C. EVANS: U.S. Trustee Appoints 7-Member Creditor's Panel
JAMES MCDILDA: Bankruptcy Won't Affect $600,000 of Housing Loans
JEFFERSON, AL: Local Borrowers Punished as County Faces Bankruptcy
JEFFREY GEFTOS: Court Says Plan Outline Has Defects

JONES SODA: Incurs $1.8 Million Net Loss in 2nd Quarter
KIEBLER RECREATION: Peek'n Peak Resort Has "Several Bids"
KINETIC CONCEPTS: S&P Gives 'BB-' Rating on Senior Secured Debt
LAMBUTH UNIVERSITY: Committee Taps Stephen Hughes as Attorney
LANIER HEALTH: S&P Revises Outlook on 'BB' Rating to Positive

LEED CORP: DIP Loans Approved for Old School Project Completion
LEHMAN BROTHERS: Dechert Has Nod to Assist Directors in JPM Suit
LEHMAN BROTHERS: Partial Dismissal of LBS ERISA Suit Granted
LEHMAN BROTHERS: FINRA Orders Broker to Repay $2.2-Mil.
LEHMAN BROTHERS: Unable to Provide Info in SEC Form 13-F

LINDEN PONDS: Wins Confirmation of Chapter 11 Plan
LUMEA STAFFING: Two Lumea Inc. Units in Chapter 11
MADISON 92ND: Marriott Unit Wants to Use Hotel Revenues
MADISON 92ND: Initial Case Conference Set for Sept. 22
MANISTIQUE PAPERS: RBS Wants Chapter 7 Liquidation

MARITIME COMMUNICATIONS: 341 Meeting of Creditors on Sept. 23
MARKETING WORLDWIDE: Incurs $540,000 Net Loss in June 30 Quarter
MAQ MANAGEMENT: U.S. Trustee Will Not Appoint Creditors Committee
MEDCLEAN TECHNOLOGIES: Incurs $1.47-Mil. Second Quarter Net Loss
MEDL MOBILE: Widens Second Quarter Net Loss to $228,900

MESA AIR: Wants Until Sept. 22 to Object to Claims
MESA AIR: Reaches Claims Settlement With Travis County
MESA AIR: HSH Nordbank, et al., Transfer Claims to Bridge Business
MMRGLOBAL INC: Incurs $2.3 Million Net Loss in Second Quarter
MORTGAGEBROKERS.COM: Incurs $145,985 Net Loss in Second Quarter

MOUNT LEBANON: Christian Care Acquires Memorial Home for $3 Mil.
MT. VERNON: Can Use Cash Collateral for Operating Expenses
NANCY SILVERMAN: Puts Georgetown Saloon Up For Sale
NATIONAL AUTOMATION: Incurs $505,000 Net Loss in Second Quarter
NEW GENERATION: Incurs $1.9 Million Second Quarter Net Loss

NEW LEAF: Delays Filing of Quarterly Report on Form 10-Q
NEWPAGE CORP: Said to Have Filed for Bankruptcy Tuesday
NEXTWAVE WIRELESS: Posts $65.4 Million Net Loss in Q2 Ended July 2
NORTEL NETWORKS: Court Requests for Postponement of Mediation
NPX CORP: Owner of 47 Condo Units in Wash. in Chapter 11

NUVILEX INC: Incurs $1.39-Mil. Net Loss in Fiscal 2011
ONE RENAISSANCE: Wells Fargo, et al. Want Plan Confirmation Denied
OTERO COUNTY HOSPITAL: Sec. 341 Creditors' Meeting on Sept. 22
OTERO COUNTY HOSPITAL: Seeks to Pay Alamogordo Surgery Ventures
OTERO COUNTY HOSPITAL: To Assume Hospital Facility Lease

OTTILIO PROPERTIES: Voluntary Chapter 11 Case Summary
PACE UNIVERSITY: Moody's Affirms Ba1 Debt Rating; Outlook Stable
PAYMENT DATA: Incurs $238,000 Net Loss in Second Quarter
PENINSULA HOSPITAL: Meets With Investors to Keep Hospital Open
PENINSULA HOSPITAL: Summoned to Answer Involuntary Bankruptcy

PERKINS & MARIE: Disclosure Statement Hearing Moved to Sept. 8
PETTERS GROUP: Polaroid Global Settlement Upheld on Appeal
PHILADEPHIA ORCHESTRA: Musicians Spurn Management's Plan
PONIARD PHARMACEUTICALS: Incurs $3.9-Mil. 2nd Quarter Net Loss
POSITRON CORP: Incurs $2.8 Million Net Loss in Second Quarter

POWER EFFICIENCY: Incurs $980,000 Net Loss in Second Quarter
PROFESSIONAL VETERINARY: Parties Defer Plan Outline Hearing
RADIANT OIL: Incurs $507,000 Net Loss in Second Quarter
RAINBOW 215: Court Confirms Chapter 11 Plan of Reorganization
ROCHA DAIRY: Court OKs Robinson Anthon as Bankruptcy Lawyers

RQB RESORT: Sept. 15 Hearing on Chapter 11 Plan
SAFETY HARBOR: Commission Approves Deal to Buy 13-Acre Property
SHENGDATECH INC: Board Sues CEO in Chinese Reverse Merger Case
SKILLSOFT: S&P Affirms B+ Corp. Credit Rating; Outlook Negative
SKINNY NUTRITIONAL: Incurs $2.5 Million Second Quarter Net Loss

SPARTA COMMERCIAL: Incurs $3.6 Million Net Loss in Fiscal 2011
SPECTRAWATT INC: Seeks Chapter 11 Protection
STACKPOLE POWERTRAIN: S&P Assigns 'B+' Corporate; Outlook Stable
TAVERN ON THE GREEN: Rights Get $1.3 Million Opening Bid
TAYLOR BEAN: Trustee Files 200 New Suits Over Transfers

TERRESTAR NETWORKS: Wants Plan Exclusivity Until Oct. 21
TERRESTAR CORP: Judge Rejects Sprint's Summary Judgment Plea
TRIBUNE CO: Appeals Court Ruling May Force Tribune to Split Assets
TRIBUNE CO: Names Tony Hunter CEO of Publishing Division
TRIBUNE CO: Debtors File Periodic Rule 2015.3 Report

TRONOX INC: Keeps Bankruptcy Bankers for 'Strategic Options'
UCI HOLDINGS: S&P Assigns 'B' Corporate Credit Rating
VALLEJO, CA: Citizens Still Feeling Shockwaves From Bankruptcy
VOTORANTIM CEMENT: Moody's Assigns 'Ba1' Sr. Sec. Credit Rating
WASHINGTON MUTUAL: FDIC Must Face $10BB Deutsche Bank Suit

WESTERN APARTMENT: Trustee Says Hotel May Be Auctioned Off
WILLIAM LYON: Cut by S&P to 'D' on Missed Payment
WILLIAMS LOVE: Bank Lender Objects to Cash Collateral Use
WILLIAMS LOVE: Sec. 341 Creditors' Meeting Set for Sept. 19
WILLIAMS LOVE: Hiring Robert G. Burt as Corporate Counsel

WILLIAMS LOVE: Taps Tonkon Torp as Bankruptcy Counsel
W.R. GRACE: Court OKs Settlement of CDGS' $130-Mil. PD Claims
W.R. GRACE: J.M. Sutherland Named VP for Investor Relations
W.R. GRACE: To Expand Columbia, Maryland Global Headquarters
ZOGENIX INC: Incurs $19.2 Million Net Loss in 2nd Quarter

* $3.55-Bil. in Bankruptcy Claims Switched Hands in July
* Newspapers Edit Down Outlooks After Discouraging Year

* Credit Markets Remain Friendly, Morgan Joseph Report Says

* Ex-Kaye Scholer Partner Seeks Dismissal of False Oath Charge

* Upcoming Meetings, Conferences and Seminars


                            *********


785 PARTNERS: Creditor First Manhattan Asks Court to Dismiss Case
-----------------------------------------------------------------
Chapter11Cases.com reports that on Aug. 19, 2011, First Manhattan
Developments REIT filed a motion asking the Southern District of
New York bankruptcy court to dismiss the chapter 11 case of 785
Partners LLC, which was filed on Aug. 3, 2011.

According to the report, 785 Partners LLC owns real property known
as, and located at, 306 West 48th Street, or 785 Eighth Avenue,
New York, New York.  A 42-story building was constructed on the
property with the intent to sell 122 condominium units in bulk to
take advantage of a tax abatement available under the New York
City Department of Housing Preservation and Development 421-a.
The developer has not obtained the requisite condominium approvals
from the New York State Attorney General, however, so none of the
condominium units have been sold and the building is unoccupied.

The report says that in July, First Manhattan Developments REIT
acquired its claims from PB Capital Corporation, as Administrative
Agent for lenders PB Capital Corporation and TD Bank, N.A., which
initially provided $84 million in secured financing to 785
Partners in January 2007.  First Manhattan Developments asserts it
now holds a claim of approximately $101 million, but that the fair
market value of the property is less than the amount of its claim.

The initial lenders began foreclosure proceedings in September
2010 and a summary judgment hearing was scheduled to occur on
August 3rd but was stayed by the bankruptcy filing.

Chapter11Cases.com says First Manhattan Developments now seeks
dismissal of the bankruptcy case or, alternatively, relief from
the automatic stay to allow it to complete the foreclosure action.

It argues that dismissal of the bankruptcy case is warranted "for
several independent reasons, including: (i) the case was filed in
"bad faith", (ii) the Debtor has not, and cannot pay the expenses
necessary to preserve and maintain the Real Property, (iii) the
Debtor has no equity in the Real Property, (iv) the value of the
Real Property is diminishing and, (v) the case was filed with no
reasonable prospect for rehabilitation or reorganization."

The report further states that if the bankruptcy court is not
inclined to dismiss the case, First Manhattan Developments asserts
that it is entitled to relief from the automatic stay because 785
Partners "has no equity in the Real Property and the Real Property
is not necessary for an effective reorganization that has a
reasonable possibility of occurring within a reasonable time
frame."

First Manhattan Developments REIT has noticed the motion for
hearing on Sept. 15, 2011, with an objection deadline of September
8th at 4:00 p.m.

                      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.


ALLEN FERGUSON: Dominion Realty Closes $2 Million Sale Deal
-----------------------------------------------------------
Michael Schwartz at Richmond Bizsense reports that Dominion Realty
Partners closed on the $2 million purchase of a 1.8-acre parcel in
Manchester, Richmond, Virginia, and is planning a $15 million
apartment project.

According to the report, Manchester Place LLC, managed by Dominion
Realty, bought the property from three owners, including George-
Marshall Corp., a bankrupt real estate holding company tied to
Allen Meade Ferguson and his wife, Mary Rutherfoord Mercer
Ferguson.

The report says the $2.05 million purchase had to be approved by
federal bankruptcy court after the Fergusons, known locally for
Mr. Ferguson's ties to an old-Richmond investment bank and for
their philanthropic efforts, filed Chapter 11 bankruptcy on March
31.

                       About Allen Ferguson

Allen Ferguson, along with his wife, filed a Chapter 11 bankruptcy
petition (Bankr. E.D. Va. Case No. 11-32141) on March 31, 2011.

Mr. Ferguson signed a Chapter 11 petition for Mercer Rug
Cleansing, Inc. on April 26, 2011 (Bankr. E.D. Va. Case No. 11-
32775).  David K. Spiro, Esq., at Hirschler Fleischer, in
Richmond, represents Mercer.  Mercer is estimated to have
$1 million to $10 million in assets and debts in its Chapter 11
petition.


AMERICAN DIAGNOSTIC: Court Extends Deadline to File Plan to Oct. 1
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois
has extended to Oct. 1, 2011, the time for American Diagnostic
Medicine Inc. to file a Plan and Disclosure Statement.

The Court first issued an order requiring the Debtor to file a
Chapter 11 plan and explanatory disclosure statement by May 31,
2011.  On May 31, 2011, the Court issued a subsequent order
extending the time to file a Plan to Aug. 1, 2011.

In July, the Debtor asked the Court to further extend the time for
it to file a Plan and Disclosure Statement until October 2011,
saying that creditors are conducting discovery regarding the
termination statement that was filed in October 2010 on behalf of
Cole Taylor and Cardinal Health and have not completed their
review.

Until that review is complete, Debtor said it cannot author a
Plant treating the relative interests of secured creditors until
the examination of their interests by the Committee is completed.

                    About American Diagnostic

Batavia, Illinois-based American Diagnostic Medicine Inc. provides
imaging technologies to hospitals, clinics, cardiologists,
internal medicine groups and other health care providers
throughout the United States.  It filed for Chapter 11 bankruptcy
protection (Bankr. N.D. Ill. Case No. 11-03368) on Jan. 28, 2011.
Joshua D. Greene, Esq., and Michael J. Davis, Esq., at Springer,
Brown, Covey, Gaetner & Davis, serve as the Debtor's bankruptcy
counsel.  In its schedules, the Debtor disclosed $11.3 million in
total assets and $11.1 million in total debts.

An Official Committee of Unsecured Creditors has been appointed in
the case.  The Committee has hired K&L Gates LLP as its counsel.


AMERICAN DIAGNOSTIC: Access to Cash Collateral Extended to Oct. 1
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois
has extended the authorization granted to American Diagnostic
Medicine, Inc., to use cash collateral, under an April 29, 2011
final order, to Oct. 1, 2011.

A copy of the new budget is available at:

   http://bankrupt.com/misc/americandiagnostic.agreedorder.pdf

A status on the Debtor's continued use of cash collateral will be
continued until Sept. 27, 2011, at 10:30 a.m.

A copy of the Final Cash Collateral Order is available at no
charge at http://bankrupt.com/misc/ADMFinalCashUseOrder.pdf

                    About American Diagnostic

Batavia, Illinois-based American Diagnostic Medicine Inc. provides
imaging technologies to hospitals, clinics, cardiologists,
internal medicine groups and other health care providers
throughout the United States.  It filed for Chapter 11 bankruptcy
protection (Bankr. N.D. Ill. Case No. 11-03368) on Jan. 28, 2011.
Joshua D. Greene, Esq., and Michael J. Davis, Esq., at Springer,
Brown, Covey, Gaetner & Davis, serve as the Debtor's bankruptcy
counsel.  In its schedules, the Debtor disclosed $11.3 million in
total assets and $11.1 million in total debts.

An Official Committee of Unsecured Creditors has been appointed in
the case.  The Committee has hired K&L Gates LLP as its counsel.


AMN HEALTHCARE: Moody's Affirms 'Ba3' on "Slow Improvement"
-----------------------------------------------------------
Moody's Investors Service assigned an SGL-3 Speculative Grade
Liquidity Rating to AMN Healthcare, Inc. Moody's also affirmed
AMN's Ba3 Corporate Family Rating, Ba3 Probability of Default
Rating, Ba2 ratings on its first lien senior secured credit
facilities, and B1 rating on its second lien senior secured credit
facilities. The rating outlook is stable.

Assignments:

   Issuer: AMN Healthcare, Inc.

   -- Speculative Grade Liquidity Rating, Assigned SGL-3

The SGL-3 rating reflects Moody's expectation that liquidity will
be adequate to support operations over the next year. This
assessment reflects Moody's view that AMN will generate positive
free cash flow and maintain significant revolving credit
availability. While the company does not have any debt maturities
until 2014, it is obligated to make term loan amortization
payments per quarter of $4.6 million over the next four quarters
and $6.9 million per quarter starting in 3Q12. A $50 million
revolving credit facility provides backup liquidity to manage
these needs and potential incremental uses of cash, such as
increased working capital requirements. Moody's estimates $30-$35
million of availability for cash advances after considering
letters of credit and $5 million of borrowings at 6/30/2011.
Moody's expects AMN to maintain a good cushion of compliance under
the financial maintenance covenants contained in the credit
agreement.

The affirmation of the Ba3 CFR reflects Moody's view that slow
improvement in business and macroeconomic conditions and realized
synergies from the Medfinders business acquired in September 2010
will enable AMN to continue to improve operating performance and
credit metrics. The affirmation assumes that credit metrics, which
are weak for the rating category, will return to appropriate
levels over the near-term. Moody's expects pro forma leverage to
decline from near 5 times Debt/EBITDA to near 4 times by the end
of 2012, and interest coverage to improve to slightly over 2 times
(EBITDA-CapEx)/Interest.

The Ba3 CFR is constrained by weak credit metrics for the rating
category and Moody's expectation for slow improvement in the
macroeconomic environment. Moody's believes unemployment will
remain elevated over the near-term and employers of healthcare
professionals will have the continued ability to fill more
openings with permanent hires, which in turn will limit demand for
short-term staffing solutions and AMN's short-term ability to grow
its business organically. The CFR also incorporates uncertainties
regarding the impact of healthcare reform and, specifically,
potential changes to reimbursement rates. The CFR continues to
benefit from AMN's leading market position in the temporary
healthcare staffing industry, diversified customer base, favorable
long-term industry trends, and adequate liquidity position.

The stable rating outlook anticipates continued sequential
improvement in revenue, modest improvements to profit margins, and
expectations for leverage to decline to 4 times and interest
coverage to improve to above 2 times by the end of 2012. The
outlook assumes that AMN will be able to fund loan amortization
payments out of internally generated cash flow and improve its
liquidity position. Given the weak position within the rating
category, the rating or outlook could be lowered with a lack of
sufficient improvement in revenue, a deterioration in profit
margins, or if Moody's expects leverage and interest coverage to
be sustained above 4 times or below 2 times, respectively. Debt-
financed acquisitions, reduced cash flow generation, or the use of
revolving credit to fund loan amortization payments could also
have negative rating implications. However, while upward rating
momentum is limited over a near-term horizon, the rating or
outlook could be raised if Moody's expects leverage to be
sustained below 3 times and coverage to be sustained above 3
times.

The principal methodology used in rating AMN was the Global
Business & Consumer Service Industry Rating Methodology published
in October 2010. Other methodologies used include Loss Given
Default for Speculative-Grade Non-Financial Companies in the U.S.,
Canada and EMEA published in June 2009. Please see the Credit
Policy page on www.moodys.com for a copy of these methodologies.

Headquartered in San Diego, California, AMN Healthcare Services,
Inc. is a leading healthcare staffing company in the U.S. The
company recruits physicians, nurses, and allied health
professionals, and places them on assignments at acute care
hospitals, physician practice groups, and other healthcare
settings. For the twelve months ended June 30, 2011, AMN reported
revenues of approximately $860 million.


ANDRONICO'S MARKET: Files for Bankruptcy, Will Sell Assets
----------------------------------------------------------
Andronico's Market Inc., the 82-year-old California supermarket
chain, sought bankruptcy protection from creditors (Bankr. N.D.
Calif. Case No. 11-48963) on Aug. 22.

Andronico's Market will sell the Company to private equity
investor Renovo Capital, Michael Bathon at Bloomberg News reports.

Renovo Capital, which will buy the company for an undisclosed
amount, will also provide a loan to help fund Andronico's
operations while in bankruptcy, according to the report.

The Company, based in San Francisco, California estimated as much
as $50 million in both debt and assets in Chapter 11 documents.

Andronico's, founded in 1929 by Greek immigrant Frank Andronico,
has struggled after the grocer took on a significant amount of
debt in a bid to expand its operations.  The expansion campaign
failed due to the slumping economy, forcing it to close some
stores.

                7 Seven Stores to Remain Open

According to Oakland Tribune, Andronico's said its seven stores
will remain open and its 400 workers will stay on the job while
the grocer attempts to work out its financial problems.  The
Company has four stores in Berkeley, as well as single stores in
San Francisco, Los Altos and San Anselmo, and specializes in
gourmet and other specialty foods, along with wine, kitchen
gadgets and tableware.

The chain moved its headquarters from Albany, New York, to San
Francisco, California, earlier this year to cut costs.

                     Hit by Competition

Now in its third generation of family ownership, the Company was
founded in 1929 by Frank Andronico, an immigrant from Greece.
There was no assurance that the grocery would ultimately land the
financing or complete a sale.  Failure to land both could imperil
the storied, high-end chain.

Andronico's, according to Oakland Tribune, has not been able to
update its stores to keep pace with the intensified competition
and new stores by its rivals, Reynolds said.  Even if the Company
manages to shore up its finances, wide-ranging changes could be
ahead, including more store closures and job losses, according to
the Tribune.

Andronico's said its restructuring plan should extricate the
Company from its financial morass.  In addition, the name is
expected to survive.


ARK DEVELOPMENT: Made Illegal Petition Date Transfers, Says BB&T
----------------------------------------------------------------
Branch Banking & Trust Company, a secured creditor of debtor Ark
Development/Oceanview, LLC, is asking the U.S. Bankruptcy Court
for the Southern District of Florida to order the appointment of a
Chapter 11 trustee in the Debtor's Chapter 11 case.

BB&T states that on May 15, 2011, it conducted a F.R.B.P. Rule
2004 examination of the Debtor and discovered that the Debtor made
preferential transfers of assets of the Debtor's bankruptcy estate
to affiliates on the Petition Date, in violation of the Debtor's
fiduciary duty to creditors.  BB&T notes that the Debtor's conduct
exemplifies the Debtor's dishonesty, incompetence, and/or gross
mismanagement of its business affairs.

BB&T says that these Petition Date Transfers are sufficient cause
for the court to appoint a Chapter 11 trustee.

Counsel for BB&T may be reached at:

     Alan J. Perlman, Esq.
     Joshua B. Alper, Esq.
     ROETZEL & ANDRESS
     350 E. Las Olas Boulevard, Suite 1150
     Ft. Lauderdale, FL 33301
     Tel: (954) 462-4150
     Fax: (954) 462-4260
     E-mail: aperlman@ralaw.com

                       About Ark Development

Ark Development/Oceanview LLC owns three luxury homes in Fort
Lauderdale, Florida -- at 1431 North Atlantic Boulevard; 1427
North Atlantic Boulevard; and 1423 North Atlantic Boulevard.  All
three properties are in the final stages of the construction
process.  The Debtor estimates that the value of each property is
roughly $4 million.

Ark Development/Oceanview filed for Chapter 11 bankruptcy (Bankr.
S.D. Fla. Case No. 11-20382) on April 18, 2011.  Judge John K.
Olson presides over the case.  Philip J. Landau, Esq., at
Shraiberg Ferrara & Landau, PA, in Boca Raton, Fla., represents
the Debtor as counsel.  In its schedules, the Debtor disclosed
$12,017,522 in assets and $11,794,591 in liabilities as of the
petition date.

The U.S. Trustee has not appointed a committee of creditors for
the Debtor's case.


ARK DEVELOPMENT: Seeks Use of Rental Income to Maintain Property
----------------------------------------------------------------
Ark Development/Oceanview, LLC, asks the U.S. Bankruptcy Court for
the Southern District of Florida for authority to use cash
collateral of BB&T Mortgage.

The Debtor will use the $11,000 in monthly rental income from a
property at 1427 North Atlantic Boulevard, in Fort Lauderdale,
Florida, in order to maintain the property.  BB&T Mortgage is owed
approximately $3,240,402 based on a first mortgage on the
property.

Philip J. Landau, Esq., at Shraiberg Ferrara & Landau, P.A.,
states that the Debtor will suffer harm if it is not authorized to
use cash collateral to continue construction improvements
associated with the 1427 Property.  Without authorization, the
Debtor will not be able to pay the expenses associated with
completing the improvements associated with the property.  Without
the use of cash collateral to pay these expenses, it may lead to
the vacancy of the Debtor's tenant, which would cause harm not
only to the Chapter 11 estate but to the potential recovery of
creditors.

As adequate protection, the Debtor will grant in favor of BB&T a
first priority post-petition security interest and lien in all of
the Debtor's rental income from the Property.

Mr. Landau tells the Court that the combination of: (i) the
Debtor's ability to preserve the going concern value of the
business with the use of cash collateral; and (ii) providing BB&T
with the other protections adequately protects BB&T.

According to Mr. Landau, the approval of the cash collateral will
enable the Debtor to (i) continue the orderly operation of the
property and avoid an immediate total shutdown of rental revenue;
(ii) meet its operating expenses in relation to the property; and
(iii) make payments authorized under other orders entered by this
Court.

                       About Ark Development

Ark Development/Oceanview LLC owns three luxury homes in Fort
Lauderdale, Florida -- at 1431 North Atlantic Boulevard; 1427
North Atlantic Boulevard; and 1423 North Atlantic Boulevard.  All
three properties are in the final stages of the construction
process.  The Debtor estimates that the value of each property is
roughly $4 million.

Ark Development/Oceanview filed for Chapter 11 bankruptcy (Bankr.
S.D. Fla. Case No. 11-20382) on April 18, 2011.  Judge John K.
Olson presides over the case.  Philip J. Landau, Esq., at
Shraiberg Ferrara & Landau, PA, in Boca Raton, Fla., represents
the Debtor as counsel.  In its schedules, the Debtor disclosed
$12,017,522 in assets and $11,794,591 in liabilities as of the
petition date.

The U.S. Trustee has not appointed a committee of creditors for
the Debtor's case.


ARRAY BIOPHARMA: Posts $56.3 Million Net Loss in Fiscal 2011
------------------------------------------------------------
Array BioPharma Inc. filed its annual report on Form 10-K,
reporting a net loss of $56.3 million on $71.9 million of revenue
for the fiscal year ended June 30, 2011, compared with a net loss
of $77.6 million on $53.9 million of revenue for fiscal 2010.

The Company has incurred operating losses since inception and has
an accumulated deficit as a result of ongoing research and
development spending.  As of June 30, 2011, the Company had an
accumulated deficit of $547.2 million.

The Company's balance sheet at June 30, 2011, showed
$89.4 million in total assets, $220.2 million in total
liabilities, and a stockholders' deficit of $130.8 million.

A copy of the Form 10-K is available at http://is.gd/wXTMC4

                      About Array BioPharma

Boulder, Colo.-based Array BioPharma Inc. (NASDAQ: ARRY)
-- http://www.arraybiopharma.com/-- is a biopharmaceutical
company focused on the discovery, development and
commercialization of targeted small-molecule drugs to treat
patients afflicted with cancer and inflammatory diseases.


ATCONTACT COMMS: Judge Invites Appeal Over Sec. 365(d)(3)
---------------------------------------------------------
Bankruptcy Judge Elizabeth E. Brown declined AtContact
Communications LLC's request for reconsideration of a July 29,
2011 Order, which conditioned the Debtor's extension of time to
assume or reject its non-residential lease with Echo Properties
Corp.  Judge Brown, however, suggested appellate review of her
decision.

The prior ruling was reported in the Aug. 2 edition of the
Troubled Company Reporter.  In her order, Judge Brown conditioned
the extension of AtContact's 120-day period to assume or reject
non-residential real property leases on the Debtor's timely
performance of all obligations under its leases, until the time as
it has assumed or rejected, as required by 11 U.S.C. Sec.
365(d)(3).  Judge Brown said Sec. 365(d)(3) imposes a mandatory
requirement that a debtor fully perform its obligations after the
first 60 days of the case.

The Court, however, invited the Debtor to file a motion to
reconsider with case authority supporting the ability to waive the
requirements of Sec. Sec. 365(d)(3).

In the Motion to Reconsider, the Debtor did not provide any
supporting case authority.  Instead the Debtor argued that the
requirement of Sec. 365(d)(3) was instituted for the benefit of
the landlord and, therefore, the landlord should be allowed to
waive its requirement.

The Court acknowledged counsel's good argument, but held that the
express language of subsection (d)(3) is written in mandatory
terms (the "trustee shall timely perform all obligations of the
debtor, . . . until such lease is assumed or rejected,
notwithstanding section 506(b)(1) of this title.")  According to
Judge Brown, the final clause of the first sentence makes clear
that the ability to give the landlord an administrative expense
claim is not to be a substitute for full performance after the
initial 60-day period.  It even repeats in the second sentence:
"but the time for performance shall not be extended beyond such
60-day period."  In contrast, subsection (d)(4) expressly provides
for a landlord's consent in the event that the debtor seeks a
second extension.  Thus, Congress knew how to provide for a
landlord's consent, but it did not include such an exception in
subsection (d)(3).

The Debtor offered alternatively to treat the unpaid rent that
will accrue each month as an unsecured loan.  The Debtor asserted
that the loan will be in the ordinary course of Debtor's business
because EPC has accepted partial payments pre-petition.

According to Judge Brown, what the Debtor has not acknowledged is
that by virtue of Sec. 364(a) the unsecured post-petition "loan"
would be entitled to an administrative expense priority claim.
For whatever reason, Congress did not want debtors to suspend full
performance beyond the initial 60-day period in reliance on Sec.
503(b)(1), the judge said.

"This Court would be pleased to have a higher court tell it that
it may read into subsection (d)(3) the Landlord's ability to
consent to a waiver of timely performance of 'all' obligations
under the lease," Judge Brown said.  "Absent a binding precedent
to this effect, the Court is compelled to apply the statute as
written."

A copy of Judge Brown's Aug. 19, 2011 Order is available at
http://is.gd/3t39tcfrom Leagle.com.

Based in Sedalia, Colorado, AtContact Communications, LLC,
dba @contact and Contactmeo, filed for Chapter 11 bankruptcy
(Bankr. D. Colo. Case No. 11-17175) on April 1, 2011.  Lee M.
Kutner, Esq. -- lmk@kutnerlaw.com -- at Kutner Miller Brinen,
P.C., presides over the case.  The Debtor did not indicate its
assets in its petition, but estimated debts as under $10 million.
The petition was signed by David M. Drucker, its manager.


BERNARD L. MADOFF: Peter Madoff's Aston Martin Sells for $247,500
-----------------------------------------------------------------
Michael Bathon at Bloomberg News reports that an Aston Martin
previously owned by Peter Madoff, brother of Bernard L. Madoff,
sold at auction for $247,500 in Monterey, California, according to
RM Auctions.  The 1958 Aston Martin MK III Drophead Coupe was sold
Aug. 19, Amy Christie, a spokeswoman for the auction house, said
in an e-mail to Bloomberg News.  An online sale catalog valued the
car at $200,000 to $250,000.  The proceeds will go to investors
who lost as much as $19 billion in his brother's Ponzi scheme,
according to Irving Picard, the trustee liquidating Bernard
Madoff's firm in New York.  Bernard Madoff's U.K. firm bought the
car for Peter Madoff in 2008 for $267,000 and wasn't reimbursed
for the expense, Mr. Picard said in a court filing.

According to the report, the car, with a carriage green finish and
tan upholstery and showing about 30,400 miles, is one of 84
Drophead Coupes built and has a "well-maintained older
restoration," according to the catalog.  It had servicing and
"paintwork" in 2008 from Aston Workshop in the U.K. at a recorded
30,184 miles, RM said.  The restoration has held up and the car
performed well on a recent road test, it said in the catalog.

Mr. Bathon recounts that Peter Madoff, sued by U.K. liquidators in
2009 for allegedly enriching himself unjustly by taking the Aston
Martin, transferred ownership of the car to Mr. Picard on May 4,
the trustee said in a filing.  Mr. Picard said the car was
auctioned with agreement from the U.K. liquidators.  Peter Madoff
was chief compliance officer at Bernard L. Madoff Investment
Securities LLC.  He was among those to whom Bernard Madoff
confessed shortly before his arrest, according to Ira Sorkin, a
lawyer for Bernard Madoff.  Peter Madoff also co-signed Bernard
Madoff's $10 million bond following the money manager's arrest.
The $247,500 sales price includes the buyer's premium, Ms.
Christie said in the e-mail to Bloomberg.

                    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.


BESO LLC: Landry's Gets Court Approval to Operate Restaurant
------------------------------------------------------------
Bankruptcy Judge Mike Nakagawa signed off on the plans in which
Landry's Restaurants Inc. will run Eva Longoria's Beso restaurant
in Las Vegas until it's sold and advance it up to $300,000 to keep
the struggling business afloat until it's sold.

The report says Landry's hopes to buy Beso for $1 million plus
whatever it spends to keep the business operating in the interim.

According to the report, Judge Nakagawa in his order acknowledged
dissident investors in Beso claim this is a sweetheart insider
deal for Ms. Longoria because she'll have an ownership stake in
the Landry's-led entity that will try to buy Beso out of
bankruptcy.

                          About Beso LLC

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


BIOVEST INTERNATIONAL: Posts $1.8 Million Net Loss in June 30 Qtr.
------------------------------------------------------------------
Biovest International, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $1.8 million on $1.1 million of
revenues for the three months ended June 30, 2011, compared with
net income of $9.0 million on $1.6 million of revenues for the
same period ended June 30, 2010.

The Company reported a net loss of $13.4 million on $3.1 million
of revenues for the nine months ended June 30, 2011, compared with
a net loss of $12.3 million on $4.2 million of revenues for the
same period ended June 30, 2010.

The Company's balance sheet at June 30, 2011, showed $6.7 million
in total assets, $37.9 million in total liabilities, and a
stockholders' deficit of $31.2 million.

As of June 30, 2011, the Company had an accumulated deficit of
approximately $159.3 million and working capital of approximately
$1.2 million.  This figure does not include those liabilities
which are subject to compromise through the Company's Chapter 11
proceedings, the ultimate outcome of which is expected to be
determined by the Court prior to the quarter ending March 31,
2012.

As reported in the Troubled Company Reporter on Dec. 20, 2010,
Cherry, Bekaert & Holland, L.L.P., in Tampa, Fla., expressed
substantial doubt about Biovest International'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 the Company incurred cumulative net losses since
inception of roughly $149 million and cash used in operating
activities of roughly $2.7 million during the two years ended
Sept. 30, 2010, and had a working capital deficiency of roughly
$79.6 million at Sept. 30, 2010.

A copy of the Form 10-Q is available at http://is.gd/v0L6do

                   About Biovest International

Biovest International, Inc. -- http://www.biovest.com/-- is an
emerging leader in the field of active personalized
immunotherapies.  In collaboration with the National Cancer
Institute, Biovest has developed a patient-specific, cancer
vaccine, BiovaxID(R), with three clinical trials completed,
including a Phase III study, demonstrating evidence of safety and
efficacy for the treatment of indolent follicular non-Hodgkin's
lymphoma.

Headquartered in Tampa, Florida, with its bio-manufacturing
facility based in Minneapolis, Minnesota, Biovest is publicly-
traded on the OTCQB(TM) Market with the stock-ticker symbol
"BVTI", and is a majority-owned subsidiary of Accentia
Biopharmaceuticals, Inc. (OTCQB: "ABPI").

Biovest, along with its subsidiaries, Biovax, Inc., AutovaxID,
Inc., Biolender, LLC, and Biolender II, LLC, filed for Chapter 11
bankruptcy protection on Nov. 10, 2008 (Bankr. M.D. Fla. Case
No. 08-17796).

As reported in the Troubled Company Reporter on Nov. 19, 2010,
Biovest emerged from Chapter 11 protection, and its reorganization
plan became effective, on Nov. 17, 2010.


BLUE DOLPHIN ENERGY: Incurs $413,900 2nd Quarter Net Loss
---------------------------------------------------------
Blue Dolphin Energy Company filed its quarterly report on Form
10-Q, reporting a net loss of $413,934 on $620,402 of revenues for
the three months ended June 30, 2011, compared with a net loss of
$369,937 on $483,591 of revenues for the same period last year.

The Company reported a net loss of $846,022 on $1.3 million of
revenues for the six months ended June 30, 2011, compared with a
net loss of $895,691 on $931,700 of revenues for the same period
of 2010.

The Company's balance sheet at June 30, 2011, showed $5.1 million
in total assets, $3.3 million in total liabilities, and
stockholders' equity of $1.8 million.

As reported in the TCR on April 8, 2011, UHY LLP, in Houston,
Texas, expressed substantial doubt about Blue Dolphin's ability to
continue as a going concern, following the Company's 2010 results.
The independent auditors noted that the Company has suffered
recurring losses and negative cash flows from operations.

A copy of the Form 10-Q is available at http://is.gd/YsPC0W

Houston, Tex.-based Blue Dolphin Energy Company (OTC QB: BDCO)
-- http://www.blue-dolphin.com/ -- is engaged in the gathering
and transportation, as well as the exploration and production, of
oil and natural gas.


CAPMARK FINANCIAL: Aims to Implement $4-Bil. Plan by Sept. 30
-------------------------------------------------------------
Michael Bathon at Bloomberg News reports that Capmark Financial
Group Inc. won court approval to exit bankruptcy by giving
creditors cash, stock and new debt worth a total of almost
$4 billion.  U.S. Bankruptcy Judge Kevin Gross said he would sign
an order approving the plan this week after minor wording changes
are made to the documents.

The report relates that under the Plan, the Debtor will reorganize
around its Utah-based bank and will be owned by creditors,
including unsecured noteholders and lenders.  Those creditors
voted overwhelmingly in favor of the Plan.  Creditors will split
$900 million in cash, new debt securities of $1.25 billion and
stock in the reorganized company, estimated to be worth about
$1.83 billion.

The Company may implement the Plan and pay the creditors by
Sept. 30, said a Capmark attorney, according to the report.

"It was clear that it was an extremely intricate case," said Judge
Gross, who presided over the hearing because U.S. Bankruptcy Judge
Christopher Sontchi wasn't available.

                       Sale Abandoned

Dow Jones' Daily Bankruptcy Review reports that Judge Gross
indicated he'd sign off on a final confirmation order to be
submitted on Monday that calls for the reorganized Capmark to dole
out about $4 billion in cash, new stock and new debt securities to
its unsecured creditors, who will take control of the company.

The report says, earlier this month, the Company abandoned plans
to sell its stake in the bank due to more market turmoil.  On
paper, the bank accounts for an estimated $1.29 billion of the
value of the reorganized company.

Under the Plan, Capmark will hand out $900 million to unsecured
creditors in cash plus $1.25 billion worth of new debt securities
and stock in a reorganized company that has an "implied value" of
$1.8 billion, according to Capmark bankruptcy lawyer Michael
Kessler of the law firm of Dewey & LeBoeuf.  That will be
stretched over unsecured debts estimated at about $7 billion, for
a partial recovery for many creditors, plan documents say.

Shareholders are due to get nothing under the plan.

                      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: Meeting of Creditors Scheduled for Sept. 26
--------------------------------------------------------
Bloomberg News reports that a meeting of creditors in the Chapter
11 case of Casco Hotel Group LLC is scheduled for Sept. 26.

Casco Hotel Group LLC, a unit of bankrupt Congressional Hotel
Corp., filed for Chapter 11 bankruptcy protection (Bankr. D. Md.
Case No. 11-26880) on Aug. 17, 2011, in Greenbelt, Maryland.  The
single-asset real estate company declared assets and liabilities
each in the range of $10 million to $50 million.

Two days earlier, Congressional Hotel filed for reorganization
(Case No. 11-26832) in the same court, listing Mervis Diamond
Corp. of Vienna, Virginia, as its largest unsecured creditor, with
a claim of $3.96 million.


CATHOLIC CHURCH: Wilmington Wins Confirmation of Ch. 11 Plan
------------------------------------------------------------
The Catholic Diocese of Wilmington, Inc., on August 8, 2011,
submitted to the U.S. Bankruptcy Court for the District of
Delaware a revised Chapter 11 Plan conforming to the Court's
July 28, 2011 order confirming the Diocese's Second Amended
Chapter 11 Plan of Reorganization.

Among the changes contained in the Conforming Plan are additional
disclosures regarding:

  -- the partial escrow of the NDCE settlement contribution.
     Cash amounting $61,968,441 plus interest accrued from and
     after an "Interest Shift Date" on the escrowed settlement
     funds and less any amounts paid by the Debtor will be
     contributed to the Settlement Trust by or on behalf of the
     Non-Debtor Catholic Entities in consideration for, and
     conditioned upon (1) each holder of a survivor claim who
     represented by State Court Counsel, absent further order of
     the Court, executing a release of the Debtor and the Non-
     Debtor Catholic Entities from the Survivor Claim in a form
     reasonably acceptable to the Debtor and Catholic Diocese
     Foundation.  The release will be effective upon the funding
     of the Settlement Trust with the NDCE Settlement
     Contribution and the Insurer Settlement Contribution.

     From and after the Interest Shift Date, $50,000,000 of the
     NDCE Settlement Contribution on deposit in the Settlement
     Account will be deemed to be held "in custodia legis" for
     the benefit of the Settlement Trust and holders of Class 3A
     Claims, subject to the funding of the Settlement Trust.

  -- the treatment of lay pension claims.   The Conforming Plan
     provides that the Reorganized Debtor will execute a fully-
     secured, unsubordinated promissory note amounting
     $15,000,000 in favor of the Lay Pension Plan Trusts;

  -- the settlement trust agreement or the settlement trust
     distribution.  The Conforming Plan provides that any holder
     of a Survivor Claim is required to execute a release of
     the Debtor and the Non-Debtor Catholic Entities to execute
     a release before receiving any distribution; and

  -- enjoinment of the Debtor and the Non-Debtor Catholic
     Entities from providing any money, salary, wages, pensions,
     and benefits to priests accused of sexual abuse.

A blackline copy of the Conforming Plan is available for free at:

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

Clean copies of the Confirming Plan and exhibits are available
for free at:

            http://bankrupt.com/misc/WilConfPln.pdf
          http://bankrupt.com/misc/WilConfPln_EXA.pdf
          http://bankrupt.com/misc/WilConfPln_EXB.pdf
          http://bankrupt.com/misc/WilConfPln_EXC.pdf
          http://bankrupt.com/misc/WilConfPln_EXD.pdf
          http://bankrupt.com/misc/WilConfPln_EXE.pdf
          http://bankrupt.com/misc/WilConfPln_EXF.pdf

As previously reported, Judge Christopher Sontchi entered his
order approving the Diocese's Plan -- which aims to pay
approximately $77.4 million to people who were sexually abused by
priests -- after a four-day confirmation hearing.  Before signing
the order, Judge Sontchi remarked that the Diocese of Wilmington
Chapter 11 case was the most difficult case he had to deal with.

Meanwhile, Bishop Malooly is inviting sexual abuse survivors to
meet with him and discuss further "healing and reconciliation,"
The Dialog said in its August 4, 2011 issue.

                   Bishop Malooly's Statement

The Most Reverend W. Francis Malooly, Bishop of the Catholic
Diocese of Wilmington, issued on July 28 the following statement
on the United States Bankruptcy Court's approval of the Catholic
Diocese of Wilmington, Inc. Plan of Reorganization:

I am pleased that the United States Bankruptcy Court has approved
the Catholic Diocese of Wilmington's Plan of Reorganization
enabling us to emerge from Chapter 11 bankruptcy. It is my hope
and prayer that this plan will give survivors of clergy sexual
abuse another means toward the healing that they so need and
deserve, and enable us to live up to our commitments to our lay
employees and creditors.  When we filed for Chapter 11
reorganization in October of 2009, our goals were to  justly and
fairly compensate all survivors of clergy sexual abuse while
maintaining, to the best of our ability, the charitable,
spiritual and educational ministries of our parishes, schools and
other institutions.  As we emerge from Chapter 11, I feel that
these goals have been reached.

The Diocese of Wilmington will continue to assure that our
parishes and schools are safe havens for our precious young
people.  We will continue to comply with the letter and spirit of
the Charter for the Protection of Children and Young People
adopted by the Catholic Bishop of the United States in 2002.

I reiterate the pledges that I made to survivors of sexual
abuse at my Mass of Installation on September 8, 2008.  I again
apologize for the innocence that was stolen from our brothers and
sisters at the hands of men who were supposed to be looking out
for their best spiritual interests.  I invite any and all
survivors to meet with me to discuss how I as Bishop and we as
Church can promote further healing and reconciliation.

Today marks a moment of transition for our diocese.  The
road ahead will not be an easy one, but I have experienced the
spirit of the Catholic community of Delaware and the Eastern
Shore of Maryland and I am optimistic that together, with God's
help, we have a bright future.  I ask for your continued prayers
and support as we learn from the past and move ahead in to our
mission. God bless you.

                                    Most Rev. W. Francis Malooly
                                        Bishop of Wilmington

                           Plan Appeal

Kenneth Martin and Charles W. Wiggins, two priests accused of
sexual abuse, took separate appeals to the U.S. District Court
for the District of Delaware from Judge Sontchi's July 28, 2011
order confirming the Catholic Diocese of Wilmington, Inc.'s
Chapter 11 Plan.

                  About the Diocese of Wilmington

The Diocese of Wilmington covers Delaware and the Eastern Shore
of Maryland and serves about 230,000 Catholics.  The Delaware
diocese is the seventh Roman Catholic diocese to file for Chapter
11 protection to deal with lawsuits for sexual abuse.  Previous
filings were by the dioceses in Spokane, Washington; Portland,
Oregon; Tucson, Arizona; Davenport, Iowa, Fairbanks, Alaska; and
San Diego, California.

The Diocese filed for Chapter 11 protection (Bankr. D.
Del. Case No. 09-13560) on Oct. 18, 2009.  Attorneys at Young
Conaway Stargatt & Taylor, LLP, serve as counsel to the Diocese.
The Ramaekers Group, LLC, is the financial advisor.  The petition
says assets range $50 million to $100 million while debts are
between $100 million to $500 million.

The bankruptcy filing automatically stayed eight consecutive abuse
trials scheduled in Delaware scheduled to begin Oct. 19, 2009.
There were 131 cases filed against the Diocese, with 30 scheduled
for trial, as of the bankruptcy filing.


CATHOLIC CHURCH: Wilm. Removal Period Extended Until Oct. 23
------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware has
extended the Diocese of Wilmington, Inc.'s deadline to file
notices of removal of any actions pending as of the Petition Date
through and including October 23, 2011.

The Court's order is without prejudice to the Diocese's right to
seek further extensions.

                  About the Diocese of Wilmington

The Diocese of Wilmington covers Delaware and the Eastern Shore
of Maryland and serves about 230,000 Catholics.  The Delaware
diocese is the seventh Roman Catholic diocese to file for Chapter
11 protection to deal with lawsuits for sexual abuse.  Previous
filings were by the dioceses in Spokane, Washington; Portland,
Oregon; Tucson, Arizona; Davenport, Iowa, Fairbanks, Alaska; and
San Diego, California.

The Diocese filed for Chapter 11 protection (Bankr. D.
Del. Case No. 09-13560) on Oct. 18, 2009.  Attorneys at Young
Conaway Stargatt & Taylor, LLP, serve as counsel to the Diocese.
The Ramaekers Group, LLC, is the financial advisor.  The petition
says assets range $50 million to $100 million while debts are
between $100 million to $500 million.

The bankruptcy filing automatically stayed eight consecutive abuse
trials scheduled in Delaware scheduled to begin Oct. 19, 2009.
There were 131 cases filed against the Diocese, with 30 scheduled
for trial, as of the bankruptcy filing.


CATHOLIC CHURCH: Automatic Stay for Wilm. Parishes Extended
-----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware has ruled
that the existing automatic stay is again extended to the Parish
Corporation with respect to all pending actions arising under the
Delaware Child Victim's Act of 2001 in which the Diocese of
Wilmington, Inc. and a Parish Corporation are co-defendants.

The Court's order was entered after the Diocese certified that no
objections were filed as of August 8, 2011.

                  About the Diocese of Wilmington

The Diocese of Wilmington covers Delaware and the Eastern Shore
of Maryland and serves about 230,000 Catholics.  The Delaware
diocese is the seventh Roman Catholic diocese to file for Chapter
11 protection to deal with lawsuits for sexual abuse.  Previous
filings were by the dioceses in Spokane, Washington; Portland,
Oregon; Tucson, Arizona; Davenport, Iowa, Fairbanks, Alaska; and
San Diego, California.

The Diocese filed for Chapter 11 protection (Bankr. D.
Del. Case No. 09-13560) on Oct. 18, 2009.  Attorneys at Young
Conaway Stargatt & Taylor, LLP, serve as counsel to the Diocese.
The Ramaekers Group, LLC, is the financial advisor.  The petition
says assets range $50 million to $100 million while debts are
between $100 million to $500 million.

The bankruptcy filing automatically stayed eight consecutive abuse
trials scheduled in Delaware scheduled to begin Oct. 19, 2009.
There were 131 cases filed against the Diocese, with 30 scheduled
for trial, as of the bankruptcy filing.


CAVIATA ATTACHED: Wants to Use Rental Income for Operating Costs
----------------------------------------------------------------
Caviata Attached Homes, LLC, asks the U.S. Bankruptcy Court for
the District of Nevada authority to use cash collateral generated
by a 184-unit apartment complex located at 950 Henry Orr Parkway
in Sparks, Nevada.

On Sept. 20, 2005, the Debtor entered into a loan agreement with
California National Bank for $40,700,000 for the construction of
the Property.  Cal National was taken over by the FDIC on Oct. 31,
2009, and its assets and liabilities were acquired by U.S. Bank.

The Debtor wants to use the cash collateral to pay certain
obligations in operating and maintaining the Property, in
accordance with a budget.  The Debtor also seeks authorization to
deviate from the budget amounts for actual expenditures not to
exceed 10% of the aggregate monthly budgeted amounts without
further court approval.

The Debtor will make adequate protection payments to U.S. Bank in
the amount of $120,000.

Alan R. Smith, Esq., representing Caviata Attached Homes, tells
the Court that the Debtor does not have the ability to meet the
ongoing postpetition obligations with respect to maintaining and
preserving the real property and paying the monthly operating
expenses unless they can have the immediate ability to use cash
collateral to pay the monthly expenses.

Mr. Smith states that the value of the Debtor's assets can only be
maximized through continued leasing of the Property.  He contends
that the Property cannot continue to be leased if this Debtor is
not permitted to use cash collateral to pay its operating
expenses.  A shutdown and immediate liquidation of the Debtor's
business would occur if this Debtor is not permitted to use cash
collateral to pay its operating expenses, and would harm the
Debtor, its estate and its creditors.

                   About Caviata Attached Homes

Reno, Nevada-based Caviata Attached Homes LLC owns and operates a
184-unit apartment complex located at 950 Henry Orr Parkway in
Sparks, Nevada, 89436

Caviata Attached Homes filed for Chapter 11 bankruptcy (Bankr.
D. Nev. Case No. 11-52458) on Aug. 1, 2011.  Judge Bruce T.
Beesley presides over the case.  The Law Offices of Alan R. Smith,
Esq., serves as bankruptcy counsel.  In its petition, the Debtor
estimated $10 million to $50 million in assets and debts.  The
petition was signed by William D. Pennington, II, member of
Caviata 184, LLC.

There was a prior bankruptcy filing by Caviata Attached Homes
(Bankr. D. Nev. Case No. 09-52786) on Aug. 18, 2009, also
estimating $10 million to $50 million in both assets and debts.
Alan R. Smith, Esq., also represented the 2009 Debtor.


CENTRAL FEDERAL: Posts $1.91-Mil. Second Quarter Net Loss
---------------------------------------------------------
Central Federal Corporation filed its quarterly report on Form 10-
Q, reporting a net loss of $1.9 million on $1.6 million of net
interest income (before provision for loan losses) for the three
months ended June 30, 2011, compared with a net loss of
$5.6 million on $2.2 million of net interest income (before
provision for loan losses) for the same period of 2010.

The Company reported a net loss of $3.8 million on $3.4 million of
net interest income for the six months ended June 30, 2011,
compared with a net loss of $5.9 million on $4.4 million of net
interest income for the same period last year.

The Company's balance sheet at June 30, 2011, showed
$277.8 million in total assets, $265.5 million in total
liabilities, and stockholders' equity of $12.3 million.

A copy of the Form 10-Q is available at http://is.gd/Jmt1TC

                        Regulatory Matters

On May 25, 2011, the Holding Company and CFBank each consented to
the issuance of an Order to Cease and Desist (the Holding Company
Order and the CFBank Order, respectively, and collectively, the
Orders) by the Office of Thrift Supervision (OTS), the primary
regulator of the Holding Company and CFBank at the time the Orders
were issued.  In July 2011, in accordance with the Dodd-Frank Wall
Street Reform and Consumer Protection Act (the Dodd-Frank Act),
the Board of Governors of the Federal Reserve System replaced the
OTS as the primary regulator of the Holding Company and the
Comptroller of the Currency replaced the OTS as the primary
regulator of CFBank.

The Holding Company's Order requires it, among other things, to:
(i) submit by June 30, 2011, a capital plan to regulators that
establishes a minimum tangible capital ratio commensurate with the
Holding Company's consolidated risk profile, reduces the risk from
current debt levels and addresses the Holding Company's cash flow
needs; (ii) not pay cash dividends, redeem stock or make any other
capital distributions without prior regulatory approval; (iii) not
pay interest or principal on any debt or increase any Holding
Company debt or guarantee the debt of any entity without prior
regulatory approval; (iv) obtain prior regulatory approval for
changes in directors and senior executive officers; and (v) not
enter into any new contractual arrangement related to compensation
or benefits with any director or senior executive officer without
prior notification to regulators.

The CFBank Order requires CFBank to have by Sept. 30, 2011, and
maintain thereafter, 8% Tier 1 (Core) Capital to adjusted total
assets and 12% Total Capital to risk weighted assets.

At June 30, 2011, CFBank's Tier 1 (Core) Capital to adjusted total
assets ratio was 5.4%, and its Total Capital to risk weighted
assets ratio was 10.1%.

                      About Central Federal

Fairlawn, Ohio-based Central Federal Corporation (Nasdaq: CFBK) is
the holding company for CFBank, a federally chartered savings
association formed in Ohio in 1892.  CFBank has four full-service
banking offices in Fairlawn, Calcutta, Wellsville and Worthington,
Ohio.


COATES INTERNATIONAL: Incurs $536,000 Net Loss in Second Quarter
----------------------------------------------------------------
Coates International, Ltd., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $536,179 on $125,000 of sales for the three months
ended June 30, 2011, compared with a net loss of $497,232 on $0 of
sales for the same period during the prior year.

The Company also reported a net loss of $1.08 million on $125,000
of sales for the six months ended June 30, 2011, compared with a
net loss of $44,668 on $0 of sales for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $3.03 million
in total assets, $3.80 million in total liabilities, and a
$762,745 total stockholders' deficiency.

The Company reported a net loss of $1.05 million on $159,000 of
sales for the year ended Dec. 31, 2010, compared with a net loss
of $806,756 on $0 of sales during the prior year.

As of June 30, 2011, the Company had an accumulated deficit of
$24,785,000 and had negative working capital of $2,789,000.  In
addition, the current economic environment, which is characterized
by tight credit markets, investor uncertainty about how to safely
invest funds and low investor confidence, has introduced
additional risk and difficulty in the Company's challenge to
secure needed additional working capital.

Meyler & Company, LLC, in Middletown, New Jersey, expressed
substantial doubt about the Company's ability to continue as a
going concern.  The independent auditors noted that the Company
continues to have negative cash flows from operations, recurring
losses from operations, and a stockholders' deficiency.

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

                        http://is.gd/MtC6g7

                     About Coates International

Based in Wall Township, N.J., Coates International, Ltd.
(OTC BB: COTE) -- http://www.coatesengine.com/-- was incorporated
on August 31, 1988, for the purpose of researching, patenting and
manufacturing technology associated with a spherical rotary valve
system for internal combustion engines.  This technology was
developed over a period of 15 years by Mr. George J. Coates, who
is the President and Chairman of the Board of the Company.

The Coates Spherical Rotary Valve System (CSRV) represents a
revolutionary departure from the conventional poppet valve.  It
changes the means of delivering the air and fuel mixture to the
firing chamber of an internal combustion engine and of expelling
the exhaust produced when the mixture ignites.


COMCAM INTERNATIONAL: Delays Filing of Quarterly Report
-------------------------------------------------------
Comcam International, Inc., said it cannot complete its Form 10-Q
within the prescribed time period as management is unable to
complete a review of its consolidated financial statements by
Aug. 15, 2011.  The delay cannot be cured without unreasonable
effort or expense.  In accordance with Rule 12b-25 under the
Securities Exchange Act of 1934, the Company anticipates filing
its Form 10-Q no later than five calendar days following the
prescribed due date.

                    About ComCam International

West Chester, Pa.-based ComCam International, Inc. is both a
network solutions innovator and a provider of fusion technologies
for security products and modern networks.  The Company's
proprietary digital wireless camera systems and security
integration solutions address complex command-and-control
applications for rapid-deployment military situations, borders,
ports, airports, and detention facilities.

The Company reported a net loss of $1.35 million on $3.55 million
of revenue for the year ended Dec. 31, 2010, compared with a net
loss of $430,648 on $24,086 of revenue during the prior year.

The Company's balance sheet at March 31, 2011, showed
$2.49 million in total assets, $2.14 million in total liabilities,
and $350,911 in total stockholders' equity.

As reported by the TCR on April 21, 2011, Pritchett, Siler &
Hardy, P.C., in Salt Lake City, Utah, expressed substantial doubt
about the Company's ability to continue as a going concern,
following the 2010 financial results.  The independent auditors
noted that ComCam International, Inc., and Subsidiary has incurred
substantial losses and has a working capital deficit.


CONSOL ENERGY: S&P Puts 'BB' on Watch Positive After Noble Deal
---------------------------------------------------------------
Standard & Poor's Ratings Services placed its ratings on coal and
natural gas producer Consol Energy Inc., including the 'BB'
corporate credit rating, on CreditWatch with positive
implications.

The CreditWatch listing follows Consol's announcement that it has
entered into an agreement with Noble Energy Inc. to jointly
develop Consol's 633,350 acres of Marcellus Shale holdings in
Pennsylvania and West Virginia for aggregate consideration of
approximately $3.4 billion. "The positive implications on the
CreditWatch listing indicate that we could affirm the rating or
raise it following the conclusion of our analysis," said Standard
& Poor's credit analyst Marie Shmaruk.

Key assessments in the review include the company's use of
proceeds from the Noble transaction, its revised spending plans,
and the impact the transaction could have on Standard & Poor's
view of its overall business risk profile.

"We think the deal with Noble could strengthen Consol's financial
profile if it uses a portion of the proceeds to lower debt levels
and if the transaction lessens the need for additional borrowings
to develop the company's large Marcellus holdings," Ms. Shmaruk
continued.

The current 'BB' corporate credit rating on Consol reflects the
combination of what Standard & Poor's considers to be the
company's satisfactory business risk profile, aggressive financial
risk profile, and adequate liquidity. The company is an efficient
producer of underground coal, has a significant reserve base, and
benefits from diversifying its energy production. Consol is
a major Appalachian energy producer with 4.4 billion tons of coal
reserves and 3.7 trillion cubic feet equivalent (tcfe) of proved
gas reserves. The company produced approximately 62 million tons
of coal and about 128 billion cubic feet equivalent (bcfe) of gas
in 2010.


CONVERSION SERVICES: June 30 Balance Sheet Upside Down by $3.84MM
-----------------------------------------------------------------
Conversion Services International, Inc., filed with the U.S.
Securities and Exchange Commission its quarterly report on Form
10-Q reporting net income of $3,126 on $3.91 million of revenue
for the three months ended June 30, 2011, compared with a net loss
of $64,240 on $4.64 million of revenue for the same period during
the prior year.

The Company also reported a net loss of $708,018 on $7.36 million
of revenue for the six months ended June 30, 2011, compared with a
net loss of $481,350 on $9.62 million of revenue for the same
period during the prior year.

The Company's balance sheet at June 30, 2011, showed $3.07 million
in total assets, $6.91 million in total liabilities, and a
$3.84 million total stockholders' deficit.

The Company reported a net loss of $771,753 on $17.72 million of
revenue for the year ended Dec. 31, 2010, compared with net income
of $31,956 on $24.19 million of revenue during the prior year.

Friedman LLP expressed substantial doubt about the Company's
ability to continue as a going concern after auditing the
Company's financial reports for 2009 and 2010.  The accounting
firm noted that the Company has incurred recurring operating
losses, negative cash flows, is not in compliance with a covenant
associated with its Line of Credit, maturing on March 31, 2011 and
has significant future cash flow commitments.

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

                         http://is.gd/lgzNvc

                  About Conversion Services Int'l

Conversion Services International, Inc., and its wholly owned
subsidiaries are principally engaged in the information technology
services industry in these areas: strategic consulting, business
intelligence/data warehousing and data management to its customers
principally located in the northeastern United States.

CSI was formerly known as LCS Group, Inc.  In January 2004, CSI
merged with and into a wholly owned subsidiary of LCS. In
connection with this transaction, among other things, LCS changed
its name to "Conversion Services International, Inc."


COYOTES HOCKEY: Glendale Won't Sell Bonds to Facilitate Sale
------------------------------------------------------------
Mike Sunnucks at the Phoenix Business Journal reports that the
city of Glendale said it would not try to sell bonds to help
facilitate a sale of the Phoenix Coyotes to a new owner.

According to the report, the city issued a statement saying it was
talking to two "qualified" ownership groups who want to buy the
Coyotes and keep the team in Arizona.  "As indicated in June, the
City of Glendale has identified two qualified buyers for the
Coyotes team and is looking forward to finalizing documents with
qualified buyers.  No bonds will be sold by the city as part of
these proposed concepts.  As always, ongoing negotiations are
confidential," Glendale city spokeswoman Julie Frisoni said in a
statement.

The report says one of those groups is headed by former San Jose
Sharks president, CEO and minority owner Greg Jamison.  Jamison
could put earnest money down next week on a Coyotes purchase and
ink the parameters of a sales deal with the National Hockey
League, which owns the team.  That would give him exclusive rights
to work out a Coyotes sale with the league and Glendale.

Glendale unsuccessfully tried to sell bonds to help Chicago
investment broker Matthew Hulsizer buy the Coyotes earlier this
year, but that bid failed after the Goldwater Institute watchdog
groups promised a lawsuit challenging the legality of the bond
sale, notes the Phoenix Business Journal.

Jamison's group hopes to move next week on an agreement with the
NHL that could set the stage for a final acquisition of the team
after league approval, a new arena lease with Glendale and any
necessary financing.  The NHL bought the Coyotes out of Chapter 11
bankruptcy for $140 million in October 2009.  Mr. Jamison was
Sharks president for 15 years.

                        About Coyotes Hockey

Dewey Ranch Hockey LLC, Arena Management Group, LLC, Coyotes
Holdings, LLC, and Coyotes Hockey, LLC -- owners and affiliates of
the Phoenix Coyotes National Hockey League team -- filed for
Chapter 11 protection (Bankr. D. Ariz. Case No. 09-09488) on
May 5, 2009.  The Debtors are represented by Thomas J. Salerno,
Esq., at Squire, Sanders & Dempsey, LLP, in Phoenix, and estimate
their assets and liabilities are between $100 million and
$500 million.

In the third quarter of 2009, Judge Redfield T. Baum approved the
sale of the Phoenix Coyotes to the National Hockey League, which
had bought the team to quash a plan by bidder Jim Balsillie's to
move the team to Ontario, Canada.  Coyotes was sent to Chapter 11
to effectuate a sale by owner Jerry Moyes to Mr. Balsillie.

The city of Glendale owns Jobing.com Arena, where the team plays.


CRYOPORT INC: Incurs $2 Million Net Loss in Second Quarter
----------------------------------------------------------
CryoPort, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, reporting a net loss
of $2.05 million on $123,751 of net revenues for the three months
ended June 30, 2011, compared with a net loss of $1.32 million on
$151,460 of net revenues for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $8.68 million
in total assets, $4.59 million in total liabilities, and
$4.08 million in total stockholders' equity.

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

                        http://is.gd/R0ptoM

                        About CryoPort Inc.

Headquartered in Lake Forest, Calif., CryoPort, Inc. (OTC BB:
CYRXD) -- http://www.cryoport.com/-- provides innovative cold
chain frozen shipping system dedicated to providing superior,
affordable cryogenic shipping solutions that ensure the safety,
status and temperature of high value, temperature sensitive
materials.  The Company has developed a line of cost-effective
reusable cryogenic transport containers capable of transporting
biological, environmental and other temperature sensitive
materials at temperatures below 0-degree Celsius.

At Sept. 30, 2010, the Company had total assets of $5.37 million,
total liabilities of $5.53 million, and a stockholders' deficit of
$153,700.

KMJ Corbin & Company LLP expressed substantial doubt about
CryoPort's ability to continue as a going concern, following
the Company's fiscal 2009 results.  The firm noted that the
Company has incurred recurring losses and negative cash flows from
operations since inception.


CYTOCORE INC: Incurs $492,000 Net Loss in Second Quarter
--------------------------------------------------------
CytoCore, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, reporting a net loss
of $492,000 on $7,000 of net revenues for the three months ended
June 30, 2011, compared with a net loss of $293,000 on $8,000 of
net revenues for the same period during the prior year.

The Company also reported a net loss of $990,000 on $14,000 of net
revenues for the six months ended June 30, 2011, compared with a
net loss of $762,000 on $16,000 of net revenues for the same
period a year ago.

The Company's balance sheet at June 30, 2011, showed $1.78 million
in total assets, $6.22 million in total liabilities, all current,
and a $4.44 million total stockholders' deficit.

The Company has incurred significant operating losses since its
inception.  Management expects that significant on-going operating
expenditures will be necessary to successfully implement CCI's
business plan and develop, manufacture and market its products.
These circumstances raise substantial doubt about CCI's ability to
continue as a going concern.

The Company reported a net loss of $2.09 million on $30,000 of net
sales for the year ended Dec. 31, 2010, compared with a net loss
of $3.55 million on $44,000 of net sales during the prior year.

As reported by the TCR on April 18, 2011, L J Soldinger Associates
LLC, in Deer Park, Illinois, said in its audit report on the
financial statements for the year ended Dec. 31, 2010, that the
Company's recurring losses from operations and resulting
dependence upon access to additional external financing, raise
substantial doubt concerning 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/mOBti4

                        About Cytocore Inc.

Headquartered in Chicago, Illinois, CytoCore Inc. (OTC BB: CYOE)
-- http://www.cytocoreinc.com/-- is a biomolecular diagnostics
company engaged in the design, development, and commercialization
of cost-effective screening systems to assist in the early
detection of cancer.  CytoCore(R) is currently focused on the
design, development, and marketing of its CytoCore Solutions(TM)
System and related image analysis platform.  The CytoCore
Solutions(TM) System and associated products are intended to
detect cancer and cancer-related diseases, and may be used in a
laboratory, clinic, or doctor's office.


CYTOMEDIX INC: Incurs $791,000 Second Quarter Net Loss
------------------------------------------------------
Cytomedix, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, reporting a net loss
of $791,361 on $1.39 million of total revenues for the three
months ended June 30, 2011, compared with a net loss of
$2.25 million on $1.14 million of total revenues for the same
period a year ago.

The Company also reported a net loss of $2.20 million on
$2.76 million of total revenues for the six months ended June 30,
2011, compared with a net loss of $3.32 million on $1.32 million
of total revenues for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $7.96 million
in total assets, $5.45 million in total liabilities, and
$2.51 million in total stockholders' equity.

As reported in the TCR on April 5, 2011, PricewaterhouseCoopers
LLP, in Baltimore, expressed substantial doubt about Cytomedix,
Inc.'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
insufficient liquidity to fund its ongoing operations.

The Company's ability to raise additional capital is dependent on,
among other things, the state of the financial markets at the time
of any proposed offering.  Given the current state of the
financial markets, the ability to raise capital may be
significantly diminished.  The Company is also exploring potential
strategic partnerships, which could provide a capital infusion to
the Company.

In the event the Company is unable to successfully sustain and
increase product sales and obtain additional capital, it is
unlikely that the Company will have sufficient cash flows and
liquidity to finance its business operations as currently
contemplated.  Accordingly, if the Company determines it will not
be able to obtain the necessary financing to address its working
capital needs for a reasonable period into the future, it may
pursue alternative paths forward for the Company.  These paths
could include, but not be limited to, sale of the Company or its
assets, merger, organized wind-down, going private/dark,
fundamental shift in its strategic plan, bankruptcy, etc.

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

                        http://is.gd/mtBW7Z

                          About Cytomedix

Gaithersburg, Md.-based Cytomedix, Inc., develops, sells, and
licenses regenerative biological therapies intended to aid the
human body in regenerating/healing itself, to primarily address
the areas of wound care and orthopedic surgery.

"In the event the Company is unable to successfully sustain and
increase product sales and obtain additional capital, it is
unlikely that the Company will have sufficient cash flows and
liquidity to finance its business operations as currently
contemplated," the Company said in the filing.

"Accordingly, if the Company determines it will not be able to
obtain the necessary financing to address its working capital
needs for a reasonable period into the future, it may pursue
alternative paths forward for the Company.  These paths could
include, but not be limited to, sale of the Company or its assets,
merger, organized wind-down, going private/dark, fundamental shift
in its strategic plan (e.g. abandon commercialization strategy and
focus exclusively on licensing), bankruptcy, etc."


DAMON'INT'L: Franchise, Franchisor Assets Up for Sale
-----------------------------------------------------
Damon's International has put up its franchise, all of its related
franchisor assets and all of its company owned locations for sale.

Background & Overview

Damon's Grill was founded in 1979 as a full-service, casual dining
restaurant with a menu emphasizing steaks, chicken, seafood, salad
and award-winning ribs in a sports-bar dining atmosphere.  Based
in Columbus, OH, Damon's has 5 company-owned stores (4 in Ohio and
1 in Maryland) and 26 franchised locations primarily in the
regional states around Ohio.

On October 28, 2009, Damon's International, Inc. commenced its
bankruptcy case by filing a voluntary petition for relief under
Chapter 11 of the Bankruptcy Code.  On January 29, 2010 the
operating subsidiaries of Damon's filed for Chapter 11.

The Opportunity

The Debtor will sell the franchise, all of its related franchisor
assets and all of its company owned locations to one or more
parties and will continue in a franchisor-only business model
going forward, focusing on the brand and divesting all restaurant
operations to franchisees.  To execute on this strategy; to
realize certain tax benefits and to potentially monetize the value
in a below-market lease associated with the Maryland operation,
the Debtor has determined to first sell its remaining locations in
Ohio and Maryland at auction and then sell the franchisor
business.

FRANCHISOR

Upon selling the corporate owned stores and converting them to
franchisees, Damon's will have a franchisor only model and focus
on growing the brand and concept.  There will be initially 31
locations in 10 states.  These locations posted nearly $50 million
in system wide gross sales for the FYE June 30, 2011.  On a pro
forma go-forward basis the royalty income from those stores
represent significant income with little corporate overhead.

The chain has the potential to grow again with additional capital
used to stabilize the brand and concept and refresh the marketing
and stores.  There are numerous former employees and operators
that could re-join the brand in addition to select new franchisee
expansion.  At its peak, the company had 160 owned and franchised
restaurant locations in the U.S. and U.K.

($ in 000's)                                   FYE 6/30/10
Five Corporate Owned Store Sales               $8,506
Twenty Six Franchisee Store Sales              40,475
Total System-Wide Sales                       $48,981
Pro Forma Franchisor
Revenue*                                       $1,779
Coporate SG&A**                                 (527)
EBITDA                                         $1,252
* Comprised of contract royalty % and production fund
**Management estimate

The Debtor is seeking a stalking horse bid and the highest and
best offer for the franchisor at auction and will submit that bid
to the Court at a sale hearing date to be determined.

FOUR OWNED OHIO RESTAURANTS

The main value of the Assets to be acquired will come from the
Buyers continued operation of the Restaurants either as a
franchisee or through conversion.

($ in 000's)               Sales                    EBITDA
Ohio Restaurants    FY'10  FY'09  FY'08     FY'10  FY'09  FY'08
Canton            $1,543 $1,515 $1,916     ($139) ($74)  ($96)
Mentor              1,103  1,065  1,427       (33)  (49)   (66)
Middleburg Heights  1,532  1,646  2,163       (32)  (15)   (4)
Sandusky            1,796  1,768  2,202        78   158    149
Total              $5,975 $5,994 $7,709     ($125)  $21   ($17)

The Company has received a bid that is subject to higher and
better offers.  Pursuant to the terms of the offer, the following
locations and all property of the Debtor located at the locations,
will be acquired:

    * 17887 Bagley Road, Cleveland, OH 44130 (Middleburg Heights);
    * 9500 Diamond Center Drive, Mentor, OH (Mentor);
    * 701 East Water Street, Sandusky, OH 44870 (Sandusky); and
    * 4220 Belden Village Street NW, Canton, OH (Canton)

Pursuant to the terms of the offer, the consideration to be
provided is:

    * $12,000 per location, and;

    * Entry into a Franchise Agreement with the Debtor on mutually
agreeable terms.

    * The bid received includes an inherent present value of the
future royalty stream from the franchisee.

Pursuant to the terms of the offer, the proposed buyer's
obligation to acquire the restaurants is contingent on:

    * Financing acceptable to the Buyer;

    * The Debtor executing mutually acceptable Franchise
Agreements for each of the four locations;

    * Agreement with the respective landlords on the terms of
lease acceptable to Buyer; and

    * The Sale of the assets being free and clear of lien claims
and encumbrances.

The proposed sale of the Acquired Assets to the Buyer shall be
subject to higher and better offers that may be submitted for the
assets at a hearing currently scheduled by the Court for August
30, 2011 to consider the sale of the Acquired Assets to the Buyer
or a Successful Bidder.

ONE OWNED MARYLAND RESTAURANT/ LEASE

The Maryland owned location is 7051 Arundel Mills Blvd, Hanover
(Arundel Mills), MD 21076, in the Hanover/ Arundel Mills
development area across the street from the proposed Maryland
Live! Casino.  The Debtor entered the lease before the proposed
casino was initiated and thus believe they have a very attractive
below-market lease with a long term (over 35 years) remaining on
the lease agreement.  The lease in a attractive strategic location
and is estimated to be significantly below current market rents
based on area comparables.

$ in 000's                    Sales              EBITDA
Maryland                FY'10  FY'09  FY'08  FY'10  FY'09  FY'08
Arundel Mills (Hanover) $2,532 $2,682 $3,586  $43    $95   $275
*Store was taken over from franchisee in October 2008.

To obtain more information in addition to the Non-Disclosure
Agreement, contact the undersigned Advisors to the Company:

          Peter S. Hartheimer
          Managing Director
          NHB Advisors, Inc.
          405 Lexington Avenue
          26th Floor
          New York, NY 10174
          (845) 323-1267 (mobile)
          peter.hartheimer@nhbteam.com

          Michael Savage, CTP, CIRA
          Managing Director
          NHB Advisors, Inc.
          60 State Street
          Boston, MA 02109
         (617) 973-7158 (mobile)
         (617) 973-5105 (office)
          michael.savage@nhbteam.com

              About Damon's Grill and Max & Erma's

Before filing for bankruptcy, Max & Erma's owned a chain of 106
restaurants located in Pennsylvania, Ohio, and Michigan, with a
few in Chicago, Washington, Atlanta, and Kentucky.  Max & Erma's
Restaurant, Inc., filed a Chapter 11 petition (Bankr. W.D. Pa.
Case No. 09-27807) in Oct. 2009.  At the time of the filing, the
Debtor estimated its assets and debts at less than $10 million.

Damon's International Inc., had Damon's Grill restaurants in 50
locations in 15 states in the U.S. and the United Kingdom before
it sought bankruptcy protection.  Damon's sought Chapter 11
protection (Bankr. W.D. Pa. Case No. 09-___) in October 2009,
estimating $1 million to $10 million in assets and debts.

Both Damon's Grill and Max & Erma's are owned by G&R Acquisitions,
Inc.  G&R sent Damon's and Max & Erma's to Chapter 11 to protect
its stock from being taken over by creditor National City, a unit
of PNC Financial Services Group Inc.


DELAMORE ELIZABETH: Major Tenant's Exit Doesn't Pose Threat
-----------------------------------------------------------
Ben Sutherly and Tim Tresslar at Dayton Daily News reports that
the owner of Elizabeth Place said the pending departure of one of
the building's primary tenants doesn't pose a major threat.

According to the report, Delamore Elizabeth Place LP has 820,000
square feet of leasable space in the former St. Elizabeth's
Hospital property, a complex of eight connected buildings at 601
Edwin C. Moses Blvd.

The report says Delamore paid $46.7 million for the property in
March 2007, just before the office real estate market nosedived.
When it filed for bankruptcy protection, it reportedly owed $49.25
million on a mortgage.  Delamore has continued to bleed red ink.

According to a July 19 filing in U.S. Bankruptcy Court, the Debtor
had collected $12.27 million in revenues from October 2009 through
June 30, but has had total expenses of $13 million, for a loss of
$732,216.

                     About Delamore Elizabeth

Delamore Elizabeth Place LP is the owner of the Elizabeth Place
medical and office building in Dayton, Ohio.  The project is a
development by the Delamore Cos.  Delamore's Web site says it
acquired over one million square feet of commercial space in the
first half of 2007, which means they bought at the top of the
market.

The Company filed for Chapter 11 protection on Oct. 1, 2009
(Bankr. S.D. Ohio Case No. 09-36187).  Tim J. Robinson, Esq.,
represents the Debtor in its restructuring efforts.  The Company
estimated assets between $10 million and $50 million, and debts
between $50 million and $100 million.


DESERT OASIS: Amends Disclosure Statement Prior to Hearing
----------------------------------------------------------
Desert Oasis Apartments, LLC, filed with the U.S. Bankruptcy Court
for the District of Nevada an amended plan of reorganization and
an accompanying disclosure statement on Aug. 16, 2011.

Payments and distributions under the Plan will be funded by the
rent paid by tenants and by sale or refinancing at or before the
end of 10 years.  The Debtor asserts that there is substantial
equity in the Property in excess of the debt to the Bank and that
the Property could have been easily be refinanced.  However, due
to the alleged lien of Tom Gonzales and the current economic
situation in which there are almost no loans for commercial
property in Las Vegas available, which makes immediate refinancing
unavailable.

Desert Oasis Apartments will be managed post-confirmation by
David Gaffin, who is currently managing the Debtor.

The Amended Plan classifies claims into five classes:

     A. Class 1 (Administrative Expenses and Priority Claims) -
        To be paid in full on the effective date of the Plan.

     B. Class 2 (Bank Secured Claim) - To be paid its pre-petition
        claim within 10 years from the Effective Date of the Plan,
        with interest at 4.5% per annum from the Petition Date.
        The principal and interest payment would be approximately
        $17,250 per month, plus a $2,253,000 balloon payment at
        the end of 10 years.  The payments will be sourced from
        rent collected from tenants and from the proceeds of sale
        or refinancing or from a capital investment made by the
        owners of the equity interest.

     C. Class 3 (Gonzales Claim) - Tom Gonzales will be paid the
        Parcel A Transfer Fee pursuant to the terms of the Desert
        Land Plan of Reorganization.

     D. Class 4 (General Unsecured Claims) - Non-Insider General
        Unsecured Creditors will be paid in full at $3,000 per
        month pro rata for 12 months.  General unsecured claims of
        insiders have agreed to subordinate their claims and will
        be paid only after all other unsecured creditors are paid
        in full.

     E. Class 5 (Equity Interest Holders) - Equity holders will
        retain their interest in the Debtor.

Hearing to consider approval of the disclosure statement is
scheduled for Aug. 23, 2011, at 10:00 a.m.

A full-text copy of the amended Disclosure Statement is available
for free at

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

                  About Desert Oasis Apartments

Desert Oasis Apartments LLC owns a garden-style apartment complex
situated across the boulevard from the Mandalay Bay Resort.  The
apartment complex is valued at least $6,500,000.

Secured creditor Wells Fargo set a trustee's sale on the apartment
complex for May 11, 2011, but Desert Oasis sought bankruptcy
protection (Bankr. D. Nev. Case No. 11-17208) the day before the
sale.  Lenard E. Schwartzer, Esq., at Schwartzer & McPherson Law
Firm, serves as the Debtor's bankruptcy counsel.  The Company
disclosed $18,067,242 in assets and $20,291,316 in liabilities as
of the Chapter 11 filing.


DEX ONE: Cut by S&P to 'B-' as Business "Remains Under Pressure"
----------------------------------------------------------------
Standard & Poor's Ratings Services lowered its ratings on Cary,
N.C.-based Dex One Corp. and related entities to 'B-' from 'B'.
The rating outlook is negative.

"At the same time, we lowered the issue-level rating on Dex Media
East's $753 million outstanding term loan and Dex Media West's
$640 million outstanding term loan to 'B-'. The recovery ratings
remain at '4', indicating our expectation of average (30% to 50%)
recovery for lenders in the event of a payment default," S&P
related.

"In addition, we revised our issue-level rating on R.H. Donnelley
Inc.'s $981 million outstanding variable-rate term loan due 2014
to 'B-' from 'B'. The recovery rating on this loan is '4',
indicating our expectation of average (30% to 50%) recovery for
lenders in the event of a payment default," S&P stated.

"In addition, we lowered the rating on Dex One Corp.'s
subordinated $300 million notes due 2017 to 'CCC' from 'CCC+'. The
recovery rating remains at '6', indicating our expectation of
negligible recovery (0%-10%) in the event of a payment default,"
S&P related.

"The corporate credit rating and outlook reflect our view that Dex
One's business will remain under pressure, given the unfavorable
outlook for print directory advertising and weakening economy,"
said Standard & Poor's credit analyst Chris Valentine.

Dex One is a leading marketing services company that helps local
businesses reach potential clients primarily through print and
digital (approximately 14% of sales) advertising. Additionally,
the company offers online and mobile yellow pages advertising.

Dex One competes primarily with major search engines, such as
Google, Yahoo!, BING and others, in addition to a growing number
of local online shopping-related sites, including industry-
specific online websites, such as ServiceMagic.com and others.
Moreover, Dex One has not been able to convert a significant
portion of its print customer relationships into digital
customers. As result, its customer base and advertising sales
continue to contract at a double-digit percentage pace. Consumers'
ongoing shift away from use of print yellow pages could impair the
company's ability to maintain or increase future advertising
prices.

The negative outlook reflects Standard & Poor's expectation that
Dex One's declining business fundamentals could hinder refinancing
of its 2014 $2.30 billion debt maturity.


DIAMOND RANCH: Incurs $306,800 Net Loss in June 30 Quarter
----------------------------------------------------------
Diamond Ranch Foods, Ltd., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q reporting a
net loss of $306,853 on $1.25 million of net revenues for the
three months ended June 30, 2011, compared with a net loss of
$292,981 on $2.21 million of net revenues for the same period
during the prior year.

The Company's balance sheet at June 30, 2011, showed $1.09 million
in total assets, $6.46 million in total liabilities and a $5.36
million total stockholders' deficit.

The Company reported a net loss of $547,732 on $7.16 million of
net revenues for the fiscal year ended March 31, 2011, compared
with a net loss of $829,823 on $8.54 million of net revenues
during the prior year.

Gruber & Company, LLC, in Lake Saint Louis, Missouri, noted that
the Company has suffered recurring losses from operations that
raise substantial doubt about its ability to continue as a going
concern.

Prior to the filing of the Form 10-Q, the Company notified the SEC
regarding the late filing of its quarterly report.  The Company
said it did not provide its auditors with all of the information
necessary for the auditors to complete the review of the financial
statements prior to the date on which the Form 10-Q was required
to be filed.

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

                        http://is.gd/Kqje5h

                        About Diamond Ranch

Diamond Ranch Foods, Ltd. -- http://www.diamondranchfoods.com/--
is a meat processing and distribution company now located in the
Hunts Point Coop Market, Bronx, New York.  The Company's
operations consist of packing, processing, labeling, and
distributing products to a customer base, including, but not
limited to; in-home food service businesses, retailers, hotels,
restaurants, and institutions, deli and catering operators, and
industry suppliers.


DIGITILITI INC: Delays Filing of Quarterly Report on Form 10-Q
--------------------------------------------------------------
Digitiliti, Inc., notified the U.S. Securities and Exchange
Commission that it will be late in filing its quarterly report on
Form 10-Q for the period ended June 30, 2011.  The Company is in
the process of completing its unaudited financial statements.

                       About Digitiliti, Inc.

St. Paul, Minnesota-based Digitiliti, Inc.'s business is
developing and delivering storage technologies and methodologies
enabling its customers to manage, control, protect and access
their information and data with ease.  The Company's core business
is providing a cost effective on-line data protection solution to
the small to medium business ("SMB") and small to medium
enterprise ("SME") markets through its DigiBAK service.  This on-
line data protection solution helps organizations properly manage
and protect their entire network from one centralized location.

The Company reported a net loss of $6.41 million on $2.14 million
of revenue for the year ended Dec. 31, 2010, compared with a net
loss of $5.17 million on $3.19 million of revenue during the prior
year.

As reported by the TCR on April 18, 2011, MaloneBailey, LLP, in
Houston, Texas, expressed substantial doubt about the Company's
ability to continue as a going concern, following the 2010
financial results.  The independent auditors noted that the
Company has suffered losses from operations and has a working
capital deficit.

The Company's balance sheet at March 31, 2011, showed
$1.26 million in total assets, $2.64 million in total liabilities,
and a $1.38 million total stockholders' deficit.


DREIER LLP: Trustee Says Clients Same as Ponzi Investors
--------------------------------------------------------
Eric Hornbeck at Bankruptcy Law360 reports that two former Dreier
LLP clients can't receive more money from the bankrupt law firm's
estate than investors in the Ponzi scheme run by imprisoned
attorney Marc Dreier, the Dreier trustee told the Second Circuit
on Monday.

Law360 relates that the Sheila M. Gowan, the Chapter 11 trustee
for the estate of Dreier LLP, said Dreier client Paul Gardi and
his company Alex Interactive Media LLC, who want the Dreier estate
to pay them $6.3 million that Dreier allegedly stole after
orchestrating a bogus settlement between them and investment firm
JANA Partners LLC, are in the same boat as all other creditors.

                       About Dreier LLP

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

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

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

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


DUTCH GOLD: Incurs $1.4 Million Net Loss in Second Quarter
----------------------------------------------------------
Dutch Gold Resources, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $1.41 million on $0 of revenue for the three months
ended June 30, 2011, compared with a net loss of $815,859 on $0 of
revenue for the same period during the prior year.

The Company also reported a net loss of $2.60 million on $0 of
revenue for the six months ended June 30, 2011, compared with a
net loss of $1.80 million on $0 of revenue for the same period a
year ago.

The Company's balance sheet at June 30, 2011, showed $3.41 million
in total assets, $7.08 million in total liabilities, and a
$3.67 million total stockholders' deficit.

As of June 30, 2011, the Company had cash on hand of $21,425,
investments available for sale of $366,645, a working capital
deficit of approximately $5.2 million and has incurred a loss from
operations for the six months ended June 30, 2011.

The Company reported a net loss of $3.70 million on $0 of revenue
for the year ended Dec. 31, 2010, compared with a net loss of
$11.33 million on $0 of revenue during the prior year.

As reported, Hancock Askew & Co., LLP, in Atlanta, Georgia,
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 limited
liquidity and has incurred recurring losses from operations.

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

                        http://is.gd/J9iqdQ

                         About Dutch Gold

Based in Atlanta, Ga., Dutch Gold Resources, Inc. (OTC: DGRI)
-- http://www.dutchgoldresources.com/-- is a junior gold miner
focused on developing its existing mining properties in North
America and acquiring and developing new mines that can enter into
production in 12 to 24 months.


EAT AT JOE'S: Reports $153,000 Net Income in Second Quarter
-----------------------------------------------------------
Eat at Joe's Ltd. filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, reporting net income
of $152,647 on $163,881 of revenue for the three months ended
June 30, 2011, compared with a net loss of $178,881 on $290,525 of
revenue for the same period a year ago.

The Company also reported net income of $11,929 on $334,973 of
revenue for the six months ended June 30, 2011, compared with a
net loss of $364,479 on $572,651 of revenue for the same period
during the prior year.

The Company's balance sheet at June 30, 2011, showed $2.43 million
in total assets, $5.67 million in total liabilities, and a
$3.24 million total stockholders' deficit.

As reported by the TCR on April 6, 2011, Robison, Hill & Co., in
Salt Lake City, Utah, after auditing the Company's financial
statements for the year ended Dec. 31, 2010, 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.

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

                        http://is.gd/ykhdaW

                        About Eat at Joe's

Scarsdale, N.Y.-based Eat at Joe's, Ltd., presently owns and
operates one theme restaurant located in Philadelphia,
Pennsylvania.


EDINBURG INVESTMENTS: Plans to Complete Business Venture in Ch. 11
------------------------------------------------------------------
Preston Knight at Northern Virginia Daily reports that Edinburg
Investments LLC, the owner of the former Johns Manville
manufacturing plant in Edinburg, filed for Chapter 11 bankruptcy,
canceling an auction and providing extra time to establish a
business venture that has been two years in the making.

According to the report, Kevin Moyer, owner and president of
Valley Wood Products Inc. in Luray, said plans to move his
business from Page County to the shuttered building on Johns
Manville Road in 2009 fell apart when he lost an investor.  Now,
he thinks he has found a new investor to rejuvenate his goal -- an
alternative energy company from India interested in manufacturing
wood pellets for heating houses.

Mr. Moyer, who is its managing member, said he was able to cancel
the auction and get several more weeks to complete his business
deal.

Based in Edinburg, Virginia, Edinburg Investments, LLC, filed for
Chapter 11 bankruptcy protection (Bankr. W.D. Va. Case No. 11-
51167) on Aug. 15, 2011.  Judge Ross W. Krumm presides over the
case.  A. Carter Magee, Jr., Esq., at Magee Goldstein Lasky &
Sayers, P.C., represents the Debtor.  The Debtor estimated both
assets and debts between $1 million and $10 million.


ELBIT VISION: Posts $302,000 Second Quarter Net Income
------------------------------------------------------
Elbit Vision Systems Ltd. reported net income of $302,000 on
US$1.42 million of revenue for the three months ended June 30,
2011, compared with net income of $4.51 million on $641,000 of
revenue for the same period a year ago.

The Company also reported net income of $532,000 on $2.67 million
of revenue for the six months ended June 30, 2011, compared with
net income of $2.39 million on $1.12 million of revenue for the
same period during the prior year,

The Company's balance sheet at June 30, 2011, showed $2.53 million
in assets, $4.79 million in liabilities, and a $2.26 million
shareholders' deficit.

Sam Cohen, CEO of EVS commented, "As we expected, these historic
second quarter results show the fourth consecutive profitable
quarter for EVS.  These results, more than the previous three, are
truly significant because it ended the one year anniversary of the
new EVS management team with an accumulated EBITDA of $1.35
million after years of devastating losses.  Furthermore, we are
very encouraged by the early interest in the launch of our new
products in the coming months, which we believe, together with our
marketing efforts, will enable us to expand into previously
unreachable markets.  This is further evidence that EVS's best
years are ahead of us!" concluded Mr. Cohen.

A full-text copy of the press release announcing the financial
results is available for free at http://is.gd/R2j9CN

                        About Elbit Vision

Based in Caesarea, Israel, Elbit Vision Systems Ltd. (OTC BB:
EVSNF.OB) offers a broad portfolio of automatic State-of-the-Art
Visual Inspection Systems for both in-line and off-line
applications, and process monitoring systems used to improve
product quality, safety, and increase production efficiency.
Brightman Almagor Zohar & Co., in Tel Aviv, Israel, expressed
substantial doubt about Elbit Vision Systems' ability to continue
as a going concern.  The independent auditors noted that of the
Company's recurring losses from operations and accumulated
deficit.

The Company reported net income of $2.6 million on $3.9 million of
revenues for 2010, compared with a net loss of $7.7 million on
$2.2 million of revenues for 2009.   Loss for the year before
discontinued operation was $863,000 and $2.1 million for 2010 and
2009, respectively.


ELITE PHARMACEUTICALS: Has $30.7-Mil. Net Loss in June 30 Quarter
-----------------------------------------------------------------
Elite Pharmaceuticals, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q reporting a
net loss attributable to common shareholders of $30.73 million on
$989,976 of total revenues for the three months ended June 30,
2011, compared with a net loss attributable to common shareholders
of $4.77 million on $831,920 of total revenues for the same period
a year ago.

The Company's balance sheet at June 30, 2011, showed
$11.49 million in total assets, $50.33 million in total
liabilities, and a $38.84 million total stockholders' deficit.

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

                        http://is.gd/tOMsRH

                     About Elite Pharmaceuticals

Northvale, New Jersey-based Elite Pharmaceuticals, Inc., is a
specialty pharmaceutical company principally engaged in the
development and manufacture of oral, controlled-release products,
using proprietary technology and the development and manufacture
of generic pharmaceuticals.  The Company has one product,
Phentermine 37.5mg tablets, currently being sold commercially.

Demetrius & Company, L.L.C., in Wayne, New Jersey, expressed
substantial doubt about Elite Pharmaceuticals' ability to continue
as a going concern.  The independent auditors noted that the
Company has experienced significant losses resulting in a working
capital deficiency and shareholders' deficit.

The Company reported a net loss of $13.6 million on $4.3 million
of revenues for the fiscal year ended March 31, 2011, compared
with a net loss of $8.1 million on $3.3 million of revenues for
the fiscal year ended March 31, 2010.


ENER1 INC: Robbins Umeda Commences Probe on Possible Breaches
-------------------------------------------------------------
Robbins Umeda LLP, a shareholder rights litigation firm, has
commenced an investigation into possible breaches of fiduciary
duty and other violations of the law by certain officers and
directors at Ener1, Inc.  Ener1, together with its subsidiaries,
engages in the design, development, and manufacturing of
rechargeable lithium-ion batteries and battery pack systems for
energy storage in the United States and South Korea.  The company
was founded in 1985, and is headquartered in New York, New York.

If you invested in Ener1 and would like more information about
your shareholder rights, please contact attorney Gregory E. Del
Gaizo at 800-350-6003 or via the shareholder information form on
our website.

Robbins Umeda LLP's investigation focuses on whether the directors
and officers of Ener1 harmed the company and investors by issuing
improper statements to the public that have damaged the company's
value and reputation.  Beginning on January 10, 2011, officials at
the company issued statements to investors that may have failed to
reflect adverse material facts about the inability of Think
Holdings AS, one of Ener1's leading subsidiaries, to continue
operating and to fulfill substantial outstanding loans obligations
due to Ener1.  As a result, on August 16, 2011, Ener1 issued a
press release announcing that the company was forced to restate
its financial statements for the year ended December 31, 2010, and
the quarter ended March 31, 2011. On this news, shares of Ener1
declined $0.33, or 42.1%, to close on August 16, 2011 at just
$0.45 per share.

Notably, on Friday August 19, 2011, the company received a Notice
of Delisting from the NASDAQ stating that Ener1 was not in
compliance with its continued listing requirements because the
company did not timely file its quarterly report for the quarter
ended June 30, 2011.  The company has until October 17, 2011, to
regain compliance and in the interim has been placed on the
NASDAQ's list of non-complaint companies.

Robbins Umeda LLP represents individual and institutional
shareholders in derivative, direct, and class action lawsuits.
The law firm's skilled litigation teams include former federal
prosecutors, former defense counsel from top multinational
corporate law firms, and career shareholder rights attorneys.

                         About Ener1 Inc.

Ener1 Inc. (OTCBB: ENEI) -- http://www.ener1.com/-- has three
business lines, which the company conducts through three operating
subsidiaries.  EnerDel, an 80.5% owned subsidiary, which is 19.5%
owned by Delphi, develops Li-ion batteries, battery packs and
components such as Li-ion battery electrodes and lithium
electronic controllers for lithium battery packs.  EnerFuel
develops fuel cell products and services.  NanoEner develops
technologies, materials and equipment for nanomanufacturing.

                          *     *     *

At Dec. 31, 2007, the company's consolidated balance sheet showed
$31.3 million in total assets, $29.7 million in total liabilities,
and $8.6 million in redeemable convertible stock, resulting in a
$7.0 million total stockholders' deficit.


EVERGREEN SOLAR: Gets Letter From NASDAQ on Late Form 10-Q
----------------------------------------------------------
Evergreen Solar, Inc., a manufacturer of String Ribbon(R) solar
power products with its proprietary, low-cost silicon wafer
technology, received a letter from The Nasdaq Listing
Qualifications Staff on August 17, 2011, notifying the Company
that it is currently not in compliance with Nasdaq Marketplace
Rule 5250(c)(1) because it has not filed its report on Form 10-Q
for the quarter ended July 2, 2011 in a timely manner.  As
previously disclosed, the Company has received an additional
notice from Nasdaq as a result of having filed a voluntary
petition in the United States Bankruptcy Court for the District of
Delaware seeking relief under the provisions of Chapter 11 of the
Bankruptcy Code (Case No. 11-12590).  The Company does not plan to
appeal Nasdaq's determination to delist the Company's common stock
and, as a result, trading of the Company's common stock will be
suspended at the opening of business on August 24, 2011.

                      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.


FENTON SUB: Meeting of Creditors Continued Until Today
------------------------------------------------------
The U.S. Trustee for Region 12 has continued until today, Aug. 24,
2011, at 1:30 p.m. the meeting of creditors in the Chapter 11
cases of Fenton Sub Parcel D, LLC, and Bowles Sub Parcel D, LLC.
The meeting will be held in Room 1017, U.S. Courthouse, 300 South
Fourth Street, Minneapolis, Minnesota.

Fenton Sub Parcel D LLC and Bowles Sub Parcel D LLC jointly own
industrial multi-tenant properties located in the Twin Cities.
They are controlled by StoneArch II/WCSE Minneapolis Industrial
LLC.  StoneArch is the 100% member of Bowles Subsidiary, LLC and
of Fenton Subsidiary LLC.  Bowles Subsidiary LLC is then the 100%
member of Bowles Sub Parcel D LLC, and Fenton Subsidiary LLC is
the 100% member of Fenton Sub Parcel D, LLC.

In 2007, StoneArch acquired various LLCs, which in turn owned 27
industrial multi-tenant properties located in the Twin Cities.
The properties were divided into four separate pools: A, B, C, and
D.  Fenton Sub Parcel D and Bowles Sub Parcel D jointly own the
properties in pool D.  As tenants in common, Fenton Sub Parcel D
has an undivided 74.5394% interest and Bowles Sub Parcel D has an
undivided 25.4606% interest.  The Pool D Properties consist of six
parcels of real property located in Anoka, Dakota, and Hennepin
Counties, Minnesota.  The Debtors expect the Pool D Properties to
be worth $13,135,656 as of the Petition Date.

Although they are two separate legal entities, Fenton Sub Parcel D
and Bowles Sub Parcel D have consistently been treated as one
enterprise.  Hoyt Properties, Inc., acts as agent in managing the
Pool D Properties.

Fenton Sub Parcel D and Bowles Sub Parcel D filed for Chapter 11
bankruptcy (Bankr. D. Minn. Case Nos. 11-44430 and 11-44434) on
June 29, 2011.  The Debtors' petitions were signed by Steven Bruce
Hoyt, chief manager, who is a debtor in bankruptcy case number
11-43816.  He is separately represented by Michael C. Meyer of the
firm Ravich Meyer.

The cases were originally assigned to Judge Dennis D. O'Brien and
reassigned to Judge Robert J. Kressel as the cases are related to
the Hoyt case, which was filed earlier and assigned to Judge
Kressel.

Cynthia A. Moyer, Esq., James L. Baillie, Esq., and Sarah M.
Gibbs, Esq., at Fredrikson & Byron, PA, represent the Debtors.


GSC GROUP: Employee Wants D&O Policy to Cover SEC Defense
---------------------------------------------------------
Lisa Uhlman at Bankruptcy Law360 reports that a GSC Group Inc.
employee accused of letting a hedge fund sell complex mortgage-
backed securities to unwitting investors asked Friday that the
judge overseeing the investment management firm's bankruptcy let
him use a Lexington Insurance Co. policy to fund his defense.

According to Law360, Edward S. Steffelin is seeking the directors
and officers coverage in his defense against the U.S. Securities
and Exchange Commission's civil securities fraud suit alleging
that he let Magnetar Capital LLC select and short the
collateralized debt obligations in a $1.1 billion offering.

                         About GSC Group

Florham Park, New Jersey-based GSC Group, Inc. --
http://www.gsc.com/-- is a private equity firm specializing in
mezzanine and fund of fund investments.  Originally named
Greenwich Street Capital Partners Inc. when it was a subsidiary of
Travelers Group Inc., GSC became independent in 1998 and at one
time had $28 billion of assets under management.  Market reverses,
termination of some funds, and withdrawal of customers'
investments reduced funds under management at the time of
bankruptcy to $8.4 billion.

GSC Group filed for Chapter 11 bankruptcy protection (Bankr.
S.D.N.Y. Case No. 10-14653) on Aug. 31, 2010.  Michael B. Solow,
Esq., at Kaye Scholer LLP, serves as the Debtor's bankruptcy
counsel.  Epiq Bankruptcy Solutions, LLC, is the Debtor's notice
and claims agent.  Capstone Advisory Group, LLC, is the Debtor's
financial advisor.  The Debtor estimated its assets at $1 million
to $10 million and debts at $100 million to $500 million as of the
Chapter 11 filing.

Since Jan. 7, 2011, the Debtors have been operated by James L.
Garrity Jr., as Chapter 11 trustee for the Debtors.  No committee
of unsecured creditors has been appointed in the Chapter 11 Cases.


GUARANTY FINANCIAL: Trustee Sues Temple-Inland, D&Os for $1-Bil.
----------------------------------------------------------------
The trustee for Guaranty Financial Group Inc. has sued former
parent Temple-Inland Inc. in Texas for allegedly siphoning the
bank's assets and forcing it to acquire risky mortgage-backed
securities before spinning off the "doomed-to-fail" entity.

Kenneth L. Tepper, the trustee and Federal Deposit Insurance Corp.
assignee, is seeking to recoup more than $1 billion that
Guaranty's creditors lost after the bank collapsed.

The Wall Street Journal's Robin Sidel reports that Mr. Tepper
contends Temple-Inland loaded up the bank with risky securities
and siphoned nearly $600 million in dividends from its coffers.
The lawsuit seeks more than $1 billion in damages from Temple-
Inland in connection with the 2009 failure of Guaranty Bank.  The
suit also names a handful of former and current executives and
directors of Temple-Inland and Guaranty, some of whom held
positions at both companies.

The Journal also reports that Temple-Inland issued a statement
saying it "believes the suit has no merit" and it will defend
itself "vigorously."  The company also cited a recent securities
filing in which it noted that the trustee might file a claim
against it related to Guaranty's failure.

"As a result of the process we followed in connection with the
spinoff, we do not believe that we would have any liability
related to the spinoff of Guaranty Financial Group," the company
said in the filing.

                    About Guaranty Financial

Dallas, Texas-based Guaranty Financial Group Inc. --
http://www.guarantygroup.com/-- was a unitary savings and loan
holding company.  The Company's primary operating entities were
Guaranty Bank and Guaranty Insurance Services, Inc.  Guaranty
Financial filed for bankruptcy after the Guaranty bank was seized
by regulators and sent to receivership under the Federal Deposit
Insurance Corporation.  Before the bank was taken over, the
balance sheet of the holding company had $15.4 billion in assets
as of Sept. 30, 2008.

Guaranty Financial and its affiliates filed for Chapter 11 (Bankr.
N.D. Tex. Case No. 09-35582) on Aug. 27, 2009.  Attorneys at
Haynes & Boone, LLP, served as the Debtors' bankruptcy counsel.
According to the schedules attached to its petition, the Company
disclosed $24.3 million in total assets and $323.4 million in
total debts, including $305.0 million in trust preferred
securities.

The bulk of Guaranty's remains were acquired by BBVA Compass, the
U.S. division of Banco Bilbao Vizcaya Argentaria SA of Spain.

Guaranty Financial received approval of its Second Amended Joint
Plan of Liquidation on May 11, 2011.  The Plan was declared
effective later that month.  The Plan is based on a settlement
with the FDIC and the indenture trustee for the noteholders.  The
Plan calls for the FDIC to receive some of the remaining cash and
all of the tax refunds, which are estimated at $3.49 million.
Unsecured creditors with $382 million in claims stand to recover
between 1% and 3%, depending on whatever is collected by a
liquidating trust.  The unsecured creditors may get more if
lawsuits are successful.  Among the unsecured claims, $318 million
stem from trust preferred securities.  All shares of common stock
of Guaranty Financial Group were deemed cancelled.

Kenneth Tepper serves as Plan trustee. He is represented by law
firm Duane Morris LLP in Cherry Hill, N.J.


GUARANTY FINANCIAL: KBW Shorted Clients' Shares, Trustee Says
-------------------------------------------------------------
Kaitlin Ugolik at Bankruptcy Law360 reports that financial adviser
Keefe Bruyette & Woods Inc. was sued Monday in Texas for allegedly
breaching a contract and illegally using nonpublic information
when it shorted shares of clients Guaranty Financial Group Inc.
and Guaranty Bank, contributing to their demise.

According to Law360, Kenneth L. Tepper, liquidation trustee for
the Guaranty Liquidation Trust, claims KBW violated
confidentiality agreements when it used material information to
short 180,000 GFG shares at a time when it should have been
helping the struggling company raise capital.

                     About Guaranty Financial

Dallas, Texas-based Guaranty Financial Group Inc. --
http://www.guarantygroup.com/-- was a unitary savings and loan
holding company.  The Company's primary operating entities were
Guaranty Bank and Guaranty Insurance Services, Inc.  Guaranty
Financial filed for bankruptcy after the Guaranty bank was seized
by regulators and sent to receivership under the Federal Deposit
Insurance Corporation.  Before the bank was taken over, the
balance sheet of the holding company had $15.4 billion in assets
as of Sept. 30, 2008.

Guaranty Financial and its affiliates filed for Chapter 11 (Bankr.
N.D. Tex. Case No. 09-35582) on Aug. 27, 2009.  Attorneys at
Haynes & Boone, LLP, serve as the Debtors' bankruptcy counsel.
According to the schedules attached to its petition, the Company
disclosed $24.3 million in total assets and $323.4 million in
total debts, including $305.0 million in trust preferred
securities.

As reported in the TCR on May 13, 2011, the Bankruptcy Court, on
May 11, 2011, confirmed the Debtors Second Amended Joint Plan of
Liquidation.  On May 13, 2011, the Debtors filed a Notice of
Effective Date of the Plan with the Bankruptcy Court.  As a result
of the Plan being declared effective, the Company's existing
equity interests, including all issued, unissued, authorized, or
outstanding shares of stock, together with any warrants, options,
or contractual rights to purchase or acquire such equity
securities at any time and all rights arising with respect
thereto, or partnership, limited liability company, or similar
interests, have been canceled without consideration as of the
Effective Date and have no value.  No shares are being reserved
for future issuance in respect of claims and interests filed and
allowed under the Plan.  Therefore, all existing equity interests,
including common stock, of the Company are worthless.


GUIDED THERAPEUTICS: Incurs $496,000 Net Loss in Second Quarter
---------------------------------------------------------------
Guided Therapeutics, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $496,000 on $913,000 of service revenue for the three
months ended June 30, 2011, compared with a net loss of $559,000
on $805,000 of service revenue for the same period during the
prior year.

The Company also reported a net loss of $1.22 million on
$1.68 million of service revenue for the six months ended June 30,
2011, compared with a net loss of $1.93 million on $1.62 million
of service revenue for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $3.31 million
in total assets, $2.91 million in total liabilities, and $410,000
in stockholders' equity.

The Company reported a net loss of $2.84 million on $3.36 million
of contract and grant revenue for the year ended Dec. 31, 2010,
compared with a net loss of $6.21 million on $1.55 million of
contract and grant revenue during the prior year.

As reported by the TCR on April 4, 2011, UHY LLP, in Atlanta,
Georgia, noted that the Company's recurring losses from
operations, accumulated deficit and lack of working capital raise
substantial doubt about its ability to continue as a going
concern.

On Aug. 12, 2011, the Company held its annual meeting of
stockholders in Norcross, Georgia.  Six directors were elected at
the Annual Meeting, namely: (1) Mark L. Faupel, Ph.D., (2) Ronald
W. Hart, Ph.D., (3) Michael C. James, (4) John E. Imhoff, M.D, (5)
Ronald W. Allen, and (6) Jonathan M. Niloff.  The appointment of
UHY LLP as the Company's independent registered public accounting
firm for the 2011 fiscal year was ratified.

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

                        http://is.gd/xAw38R

                     About Guided Therapeutics

Guided Therapeutics, Inc. (OTC BB and OTC QB: GTHP)
-- http://www.guidedinc.com/-- is developing a rapid and painless
test for the early detection of disease that leads to cervical
cancer.  The technology is designed to provide an objective result
at the point of care, thereby improving the management of cervical
disease.  Unlike Pap and HPV tests, the device does not require a
painful tissue sample and results are known immediately.  GT has
also entered into a partnership with Konica Minolta Opto to
develop a non-invasive test for Barrett's Esophagus using the
LightTouch technology platform.


HALO COMPANIES: Incurs $1.2 Million Second Quarter Net Loss
-----------------------------------------------------------
Halo Companies, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, reporting a net loss
of $1.27 million on $809,737 of revenue for the three months ended
June 30, 2011, compared with a net loss of $675,836 on $2.05
million of revenue for the same period a year ago.

The Company also reported a net loss of $2.40 million on
$1.66 million of revenue for the six months ended June 30, 2011,
compared with a net loss of $1.48 million on $4.08 million of
revenue for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $1.56 million
in total assets, $4.12 million in total liabilities and a $2.55
million total shareholders' deficit.

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

                        http://is.gd/V3BSFQ

                        About Halo Companies

Allen, Texas-based Halo Companies, Inc., is a nationwide real
estate investment, asset management and financial services company
that provides technology and asset management solutions to asset
owners as well as real estate and financial services to
financially distressed consumers which can be applied individually
or utilized as a comprehensive workout strategy.

As reported by the TCR on April 8, 2011, Montgomery Coscia
Greilich LLP, in Plano, Texas, expressed substantial doubt about
Halo Companies' ability to continue as a going concern.  The
independent auditors noted that the Company has incurred losses
since its inception and has not yet established profitable
operations.

The Company reported a net loss of $3.6 million on $6.9 million of
revenue for 2010, compared with a net loss of $1.9 million on
$9.1 million of revenue for 2009.


HICKOK INCORPORATED: Posts $125,900 Net Loss in Q3 Ended June 30
----------------------------------------------------------------
Hickok Incorporated filed its quarterly report on Form 10-Q,
reporting a net loss of $125,949 on $1.3 million of revenues for
the three months ended June 30, 2011, compared with a net loss of
$151,479 on $1.4 million of revenues for the same period ended
June 30, 2010.

The Company reported a net loss of $657,612 on $3.7 million of
revenues for the nine months ended June 30, 2011, compared with a
net loss of $422,312 on $4.4 million of revenues for the same
ended June 30, 2010.

The Company's balance sheet at June 30, 2011, showed $3.4 million
in total assets, $779,001 in total liabilities, all current, and
stockholders' equity of $2.6 million.

As reported in the TCR on Dec. 28, 2010, Meaden & Moore, Ltd., in
Cleveland, Ohio, expressed substantial doubt about Hickok'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 the Company has incurred large operating
losses during the past several years and may have insufficient
cash to fund operations for the next twelve months.

A copy of the Form 10-Q is available at http://is.gd/C7Pov7

Cleveland, Ohio-based Hickok Incorporated (OTC Bulletin Board:
HICKA.PK) is a supplier of high quality products and services for
the automotive, emissions testing, locomotive, and aircraft
industries.


HOLDINGS GAMING: Raised by S&P to 'CCC+' Due to PA Table Games
--------------------------------------------------------------
Standard & Poor's Rating Services raised its corporate credit
rating on Holdings Gaming Borrower L.P. (HGB), the operator of the
Rivers Casino in Pittsburgh, to 'CCC+' from 'CCC' and removed the
rating from CreditWatch, where it was placed with positive
implications on July 26, 2011. The rating outlook is stable.

"At the same time, we raised our issue-level rating on HGB's
$303.5 million term loan due June 2015 to 'CCC+' from 'CCC' and
maintained our recovery rating of '3' on the debt, indicating our
expectations for meaningful (50%-70%) recovery in the event of a
payment default," S&P stated.

"The upgrade reflects improved operating performance -- largely
due to the July 2010 addition of table games in Pennsylvania,"
said Standard & Poor's credit analyst Jennifer Pepper, "and our
expectation that cash flow will remain sufficient to meet fixed
charges in the intermediate term." "Further, operating improvement
likely better positions HGB to potentially pursue a refinancing
that would alleviate its current interest burden. Still, given the
substantial level of noncash interest that will accrue, it remains
unclear whether HGB's capital structure is sustainable over the
long term."


HORIZON BANCORP: Incurs $81,000 Net Loss in Second Quarter
----------------------------------------------------------
Manasota Group, Inc., formerly known as Horizon Bancorporation,
Inc., filed with the U.S. Securities and Exchange Commission its
quarterly report on Form 10-Q, reporting a net loss of $81,094 on
$0 of total operating income for the three months ended June 30,
2011, compared with net gain of $129,648 on $49,400 of total
operating income for the same period a year ago.

The Company also reported a net loss of $102,453 on $64 of total
operating income for the six months ended June 30, 2011, compared
with a net loss of $1.72 million on $49,400 of total operating
income for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $1.23 million
in total assets, $1.14 million in total liabilities, and $88,386
in shareholders' equity.

In the past two calendar years, the Company has experienced heavy
losses that caused its capital accounts to be reduced by
approximately 98%.

As reported in the TCR on April 25, 2011, Francis & Co., CPA's, in
Atlanta, Georgia, noted that the Company has suffered heavy losses
in calendar years 2010 and 2009, reducing its capital accounts
significantly.  "Moreover, federal and state regulators, in 2009,
imposed a Written Agreement on the Bank mainly due to increasing
levels in non-performing assets and eroding regulatory capital.
The above, combined with the closing of the subsidiary bank
raises substantial doubt about the Company's ability to continue
as a going concern.

During the first half of 2011, the Company's accounting staff has
been fully engaged with determining the proper accounting
treatment of certain adjustments stemming from negotiations with
bank regulators over the closure of its wholly owned bank
subsidiary.  The Company is also seeking an exemption from data
tagging its reports.  As a result, the Company was delayed in
filings its Quarterly Report.

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

                       http://is.gd/aE74yS

                   About Horizon Bancorporation

Brandenton, Fla.-based Horizon Bancorporation, Inc., acted as a
one-bank holding company with respect to Horizon Bank, Bradenton,
Florida, from Oct. 25, 1999, when the Bank commenced operations,
until Sept. 10, 2010, when the Florida Office of Financial
Regulation (the "OFR") declared the Bank to be insolvent.  The
Bank was closed, with the FDIC being appointed as receiver
therefor, and sold to Bank of the Ozarks.

In the short run, management intends to maintain the Company's
status as a reporting public company, which, if an appropriate
opportunity arises, may engage in a transaction with an operating
company.


HOWREY LLP: Sells Off Furniture as Part of Wind-Down
----------------------------------------------------
Jeffrey MacMillan at the Washington Post reports that Howrey
auctioned off furniture from its District office, the latest step
in ongoing bankruptcy proceedings for what was once a premier
litigation firm with more than 700 attorneys worldwide.

According to the report, the defunct firm continues to be mired in
several disputes as it works with creditors toward a dissolution
plan.  In bankruptcy, it's battling its medical insurance provider
Cigna over who should pay for more than 4,100 unpaid health claims
from former employees worth up to $4.5 million.  And it's facing
off with its former Washington landlord over unpaid rent that
could cost the firm $7.7 million.

Mr. McMillan says Howrey has vacated most of its office space in
the District's Warner Building on Pennsylvania Avenue, but
building owner Warner Investments says the firm continues to run
"wind-down operations" out of the Washington space, and that
Howrey owes $7.7 million in unpaid rent dating back to February,
according to motions filed last month in U.S. Bankruptcy Court for
the Northern District of California.

The report says Howrey's lawyers call Warner's demand for $7.7
million an "unabashed and blatant attempt" by the landlord to back
out of an agreement the two parties reached in April, which said
Howrey would vacate most of the offices and pay a reduced rate for
the floor space it continued to retain.

Warner's attorney, Gregg Kleiner at Luce Forward, did not return
calls seeking comment.  The dispute over unpaid rent is slated to
be heard before Judge Dennis Montali on Aug. 31.

Meanwhile, Cigna subsidiary Connecticut General Life Insurance
Co.,, Howrey's medical insurance provider, has not processed more
than 4,100 claims filed by former Howrey employees since March.
Many charges were incurred before Howrey dissolved, and Cigna's
refusal to administer the claims has resulted in many former
employees being denied benefits, according to Howrey's attorneys.
One former employee was denied benefits totaling about $32,000,
even though $19,000 of the charges were incurred in November 2010,
according to court documents.

The report says some former employees are being threatened with
collection agencies, interest and late fees, and risk damaging
their credit ratings, the motion said.  The $890,000 currently in
Howrey's health plan account should be enough for Cigna to
continue processing the claims, the bankrupt firm's attorneys
said.

But Cigna, represented by Connolly Bove Lodge & Hutz, says the
4,116 unprocessed unpaid claims total nearly $4.5 million,
according to the report.  The insurer "continues to engage in a
dialogue with representatives of Howrey regarding Howrey's self-
funded plan," a company spokesperson said in a statement.  "The
issue before the court is whether Howrey has the funds to pay
claims under their self-funded plan."

The matter is scheduled to be heard Thursday.

                         About Howrey LLP

Three creditors filed an involuntary Chapter 7 petition (Bankr.
N.D. Calif. Case No. 11-31376) on April 11, 2011, against the
remnants of the Washington-based law firm Howrey LLP.  The filing
was in San Francisco, where the firm had an office.  The firm
previously was known as Howrey & Simon and Howrey Simon Arnold &
White LLP.  The firm at one time had more than 700 lawyers in 17
offices.  The partners voted to dissolve in March 2011, ending a
55-year run during which it became one of the top antitrust and
intellectual property litigation firms in the United States.

The firm specialized in antitrust and intellectual-property
matters.  The three creditors filing the involuntary petition
together have $36,600 in claims, according to their petition.

The involuntary chapter 7 petition was converted to a chapter 11
case in June at the request of the firm.  In its schedules filed
in July, the Debtor disclosed assets of $138.7 million and
liabilities of $107.0 million.

Howrey is being represented by Wiley Rein and Latham & Watkins.


HUBBARD PROPERTIES: Dispute With IWA Sent to Mediation
------------------------------------------------------
The Hon. K. Rodney May of the U.S. Bankruptcy Court for the Middle
District of Florida, appointed Jeffrey Warren as mediator in all
concerns relating to the claims of creditor Investors Warranty of
America, Inc., against debtor Hubbard Properties, LLC, and the
Chapter 11 plan for Hubbard.

The mediator will be entitled to compensation at his normal hourly
rate, to be jointly paid by the Debtor and IWA upon the conclusion
of the mediation.  The Debtor is authorized to pay 50% of the cost
and expenses of the mediation, including the mediator's
compensation without further order of the Court.

The parties are ordered to comply with pre-mediation requirements
and mediation procedures, as may be required by the mediator.

Each party will attend the mediation with counsel and the
individual client or corporate client representative with full and
absolute authority to agree to a mediated settlement.  If an
impasse is reached with respect to the mediation as a result of
the failure of a party to comply with the requirement, the party
will be liable for sanctions to include payment of all fees
incurred by the other party to the case in connection with the
mediation.

The Court will conduct a status conference in the Chapter 11 case
on Aug. 25, 2011, at 9:30 a.m.

The Court has also continued until Sept. 8, 2011, at 9:30 a.m.,
the preliminary hearings on, among other things: (i) the Official
Committee of Unsecured Creditors objection to the Disclosure
Statement and confirmation of the Debtor's Plan of Reorganization;
(ii) the motion to abate amended order conditionally approving
disclosure statement; and (iv) the motion of IWA to temporarily
allow claim for voting purposes.

All deadlines established by the Court's amended order are
extended and will be reset following the Aug. 25 status
conference.

The Court extended the Debtor's exclusive periods until the
conclusion of any rescheduled confirmation hearing.

As reported in the Troubled Company Reporter on July 22, 2011,
attorneys for the Debtor, major secured creditor IWA, and the
Committee have engaged in productive informal discussions
regarding achieving a possible consensual plan of reorganization.

Based on these discussions, and to maximize judicial efficiency
and minimize the costs associated with the parties preparing for
the currently scheduled confirmation hearing, the Debtor believes
mediation on issues and disputes relating to the Plan and
Disclosure Statement is appropriate.

To facilitate mediation, the Debtor asks the Court to reschedule
the plan confirmation hearing and the disclosure statement
hearing.

                      About Hubbard Properties

Hubbard Properties owns tourist and entertainment center John's
Pass Village in Madeira Beach, Florida.  Hubbard Properties said
it owes $22 million to Investors Warranty of America.

Hubbard Properties, LLC, filed for Chapter 11 protection (Bankr.
M.D. Fla. Case No. 11-01274) in Tampa, Florida, on Jan. 27, 2011.
David S. Jennis, Esq., Kathleen I. DiSanto, Esq., and J. A.
McPheeters, Esq., at Jennis & Bowen, P.L., in Tampa, Fla., serve
as bankruptcy counsel.  The Debtor also tapped Bacon & Bacon,
P.A., as special counsel; Tony Buzbee and The Buzbee Law Firm as
special counsel in connection with the assessment and recovery of
the Debtor's BP oil spill claim, Van Middlesworth and Company,
P.A., as accountant; and Claims Strategies Group, LLC, as claim
consultant.  The Debtor disclosed $12,572,058 in assets and
$23,829,629 in liabilities as of the petition date.

Donald F. Walton, U.S. Trustee for Region 21, appointed three
unsecured creditors to the Official Committee of Unsecured
Creditors in the Debtor's case.  Hill, Ward & Henderson, P.A.,
represents the Committee.


HUDSON HEALTHCARE: City Counsel Gives Up Right to $2 Million Claim
------------------------------------------------------------------
Claire Moses at Hoboken Patch reports that the City Council agreed
to give up its rights to a $2 million claim in bankruptcy
proceedings with Hudson Healthcare Inc., in a 5-3 vote during a
special meeting last week.  Council members Theresa Castellano,
Tim Occhipinti and Michael Russo voted against.

According to the report, HHI owes the city of Hoboken roughly
$2 million in parking fees and rental payments.  It's unclear how
much of that $2 million the city would have gotten after going
through bankruptcy court.

In return for giving up rights to that claim, the city indemnifies
itself from any liability from the roughly 5,000 creditors against
the hospital, according to the report.

Hoboken Patch relates that the city is waiting for the State
Health Commissioner to approve the sale of the Hoboken University
Medical Center to HUMC Holdco LLC, the same company that bought
the Bayonne Medical Center.  The state health planning board
recently recommended the proposed sale after a public hearing.

If the sale goes through, the city will be relieved of a $52 bond
obligation.  Mayor Dawn Zimmer and Hospital Authority Chairwoman
Toni Tomarazzo have said that without this sale, the hospital will
be forced to close, notes the report.

The report says, after the roughly $90 million sale goes through,
it's likely that Holdco will sell and lease back the hospital from
an Alabama-based real estate firm, which has drawn criticism.
Other concerns from critics-and an issue discussed during the
state health planning board meeting-include the fact that HUMC
will likely not accept all current health care contracts, which
could mean that some Hobokenites won't be able to use the hospital
anymore after the sale.

The report adds it also recently came to light that former CEO
Spiros Hatiras was paid $600,000 right before the management
company filed for bankruptcy.

The settlement between the city and the hospital management
company is laid out in a 19-page document, which has not yet been
made public.  Council members received the document on Thursday
afternoon.  Some council-members said they had not read the
document before the meeting, notes the Hoboken Patch.

Hoboken Patch says Paul Hollander-who is the special counsel
retained for this matter by the city at $540 an hour that is part
of an initial emergency contract that's not to exceed $17,500-
briefed the council on the settlement in a closed session.

Mr. Hollander explained also that part of the proceeds of the sale
will be returned to the HHI, with which it can pay off some of its
creditors.  The HHI's total debt is roughly $25 million.
Mr. Hollander said that this amount will be calculated by a
formula, which was not disclosed last week, notes Hoboken Patch.

                      About Hudson Healthcare

Hudson Healthcare Inc. is the nonprofit operator of Hoboken
University Medical Center in Hoboken, New Jersey.  Hudson
Healthcare filed for Chapter 11 protection (Bankr. D. N.J. Case
No. 11-33014) in Newark on Aug. 1, 2011, estimating assets and
debt of less than $50 million.  Affiliate Hoboken Municipal
Hospital Authority also sought Chapter 11 protection.

Judge Donald H. Steckroth presides over the cases.  Attorneys at
Trenk, Dipasquale, Webster, et al., serve as counsel to the
Debtor.  Epiq Bankruptcy Solutions, LLC is the noticing and claims
agent.

In August 2011, the New Jersey Health Planning Board voted to
recommend to the Commissioner of Health to approve the sale of
Hoboken University Medical Center to HUMC Holdco, a private group
that also owns Bayonne Medical Center.  Holdco has pledged to
maintain it as a hospital for at least seven years.  The proposed
transaction totals $91.7 million, including a $51.6 million cash
payment to extinguish Hobokens' bond guarantee.  The new owners
have pledged to put $20 million in capital improvements in the
hospital.


HUDSON HEALTHCARE: U.S. Trustee Appoints 7-Member Creditor's Panel
------------------------------------------------------------------
Roberta A. Deangelis, United States Trustee for Region 3, under 11
U.S.C. Sec. 1102(a) and (b), appointed seven unsecured creditors
to serve on the Official Committee of Unsecured Creditors of
Hudson Healthcare Inc.

The Creditors Committee members are:

      1. Susan Cleary
         Sidney Seligman
         District 1199J NJ Benefit & Pension Funds
         9-25 Alling Street
         Newark, NJ 07102
         Tel: (973) 624-1199
         Fax: (973) 624-0801

      2. Daniel J. Mulligan
         MedAssets Net Revenue Systems, LLC
         1 Route 17 South
         Saddle River, NJ 07458
         Tel: (201) 786-6006
         Fax: (201) 786-6406

      3. Virginia Treacy
         JNESO -District Counsel 1- IUOE
         1225 Livingston Avenue
         North Brunswick, NJ 08902
         Tel: (732) 745-2776
         Fax: (732) 828-6343

      4. Suzanne Klar, Esq.
         PSEG
         80 Park Plaza T5D
         Newark, NJ 07102
         Tel: (973) 430-6483
         Fax: (973) 645-1103

      5. Brad Hamman, Chairperson
         Sodexo Operations, LLC
         283 Cranes Roost Blvd.
         Suite 260
         Altamonte Springs, FL 32701
         Tel: (407) 339-3230 ext. 35204
         Fax: (407) 260-2305

      6. Robert Speeney
         Cardinal Health 200, LLC
         7000 Cardinal Place
         Dublin, OH 43017
         Tel: (614) 553-3125
         Fax: (614) 652-6848

      7. Debra M. Lightner, Esq.
         Horizon Blue Cross & Blue Shield
         3 Penn Plaza East
         Newark, NJ 07102
         Tel: (973) 466-8702
         Fax: (973) 466-7759

                      About Hudson Healthcare

Hudson Healthcare Inc. is the nonprofit operator of Hoboken
University Medical Center in Hoboken, New Jersey.  Hudson
Healthcare filed for Chapter 11 protection (Bankr. D. N.J. Case
No. 11-33014) in Newark on Aug. 1, 2011, estimating assets and
debt of less than $50 million.  Affiliate Hoboken Municipal
Hospital Authority also sought Chapter 11 protection.

Judge Donald H. Steckroth presides over the cases.  Attorneys at
Trenk, Dipasquale, Webster, et al., serve as counsel to the
Debtor.  Epiq Bankruptcy Solutions, LLC is the noticing and claims
agent.

In August 2011, the New Jersey Health Planning Board voted to
recommend to the Commissioner of Health to approve the sale of
Hoboken University Medical Center to HUMC Holdco, a private group
that also owns Bayonne Medical Center.  Holdco has pledged to
maintain it as a hospital for at least seven years.  The proposed
transaction totals $91.7 million, including a $51.6 million cash
payment to extinguish Hobokens' bond guarantee.  The new owners
have pledged to put $20 million in capital improvements in the
hospital.


INDIANAPOLIS DOWNS: Blasts Ex-Gen. Managers' Compensation Claims
----------------------------------------------------------------
Evan Weinberger at Bankruptcy Law360 reports that Indianapolis
Downs LLC said Friday that the former general manager of its
casino operations got his facts wrong when he objected to the
racino's bid to halt fulfillment of his compensation package.

In a declaration filed in Delaware bankruptcy court, Law360
relates, Indianapolis Downs disputed Richard Kline's assertion
that he resigned his position with the company effective June 1
"for good reason" and was entitled to the remainder of his
contract.

                      About Indianapolis Downs

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

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

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

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


INDUSTRIAL ENTERPRISES: Tabor Fights to Keep $1.52-Mil. of Stock
----------------------------------------------------------------
Steve Urbon at SouthCoastTODAY.com reports that Tabor Academy is
fighting hard against returning any of the $1.52 million worth of
stock given to the school by an alumnus who pleaded guilty in a
$110 million securities fraud scheme where the stock originated.

According to the report, Tabor named its Mazzuto Math Wing after
John Mazzuto, class of 1966, CEO of Industrial Enterprises of
America, who made a series of gifts of stock to the school between
2005 and 2007.  That was about the time shareholders and New York
law enforcement caught on to the fraud.  The shareholders sued the
New York-based company, which in 2009 filed for Chapter 11
bankruptcy, and later settled.

The report says Mr. Mazzuto in January pleaded guilty to the fraud
and is free awaiting sentencing next month.  After his plea, he
turned state's evidence against his partner in the scheme, an Ohio
lawyer named James Margulies, who went to trial and was convicted
last month on six counts and is in prison in New York, also
awaiting sentencing.

Mr. Margulies' lawyer said after Mazzuto's testimony: "This is one
of the grand scamsters of our generation."

Mr. Mazzuto's testimony confirmed that the stock that Mazzuto, a
New Jersey native, gave Tabor and a handful of other schools,
including Yale University, was in the form of illegally issued
employee stock options.  Called S-8 stocks, they are legally
restricted as payment to employees, contractors and others doing
business with a company.  They cannot be issued as publicly traded
stock.

                   About Industrial Enterprises

Pittsburgh, Pennsylvania-based Industrial Enterprises of America,
Inc., filed for Chapter 11 protection (Bankr. D. Del. Case No. 09-
11508) on May 1, 2009.  On April 30, 2009, Pitt Penn Holding
Co., Inc., and Pitt Penn Oil Co., LLC, each filed voluntary
petitions for Chapter 11 relief, under Case Nos. 09-11475 and
09-11476.  On May 4, 2009, EMC Packaging, Inc., filed a voluntary
petition for Chapter 11 relief, under Case No. 09-11524.  On
May 6, 2009, Unifide Industries, LLC, and Today's Way
Manufacturing LLC, each filed a voluntary petition for Chapter 11
relief, under Case Nos. 09-11587 and 09-11586.

PPH, PPO, EMC, Unifide, and Today's Way are each subsidiaries of
the Company.  The cases are jointly administered under Case No.
09-11475.

Christopher D. Loizides, Esq., at Loizides, P.A., in Wilmington,
Del., represents the Debtors as counsel.  In its petition,
Industrial Enterprises disclosed total assets of $50,476,697 and
total debts of $17,853,997.

Based on public filings previously made with the Securities and
Exchange Commission, Industrial Enterprises originally operated as
a holding company with four wholly owned subsidiaries, PPH, EMC,
Unifide, and Today's Way.  PPH, through its wholly owned
subsidiary, PPO, was a leading manufacturer, marketer and seller
of automotive chemicals and additives.

EMC's original business consisted of converting hydrofluorocarbon
gases R134a and R152a into branded private label refrigerant and
propellant products.  Unifide was a leading marketer and seller of
automotive chemicals and additives.  Today's Way manufactured and
packaged the products which were sold by Unifide.


INNOVATIVE FOOD: Reports $562,600 Net Income in 2nd Quarter
-----------------------------------------------------------
Innovative Food Holdings, Inc., filed its quarterly report on Form
10-Q, reporting net income of $562,604 on $2.8 million of revenue
for the three months ended June 30, 2011, compared with a net
loss of $1.6 million on $2.3 million of revenue for the same
period last year.

The Company reported net income of $732,732 on $5.2 million of
revenue for the six months ended June 30, 2011, compared with a
net loss of $2.7 million on $4.6 million of revenue for the same
period of 2010.

A substantial portion of the gains is the result of non-cash
items, such as the revaluation of warrant liability, option
liability, and conversion option liability, as well as the gain
and loss on the extinguishment of debt.

The Company's balance sheet at June 30, 2011, showed $1.2 million
in total assets, $5.8 million in total liabilities, all current,
and a stockholders' deficit of $4.6 million.

As reported in the TCR on March 23, 2011, RBSM LLP, in New York,
expressed substantial doubt about Innovative Food Holdings'
ability to continue as a going concern, following the Company's
2010 results.  The independent auditors noted that the Company has
incurred significant losses from operations since its inception
and has a working capital deficiency.

A copy of the Form 10-Q is available at http://is.gd/r9q1tY

Naples, Fla.-based Innovative Food Holdings, Inc., through its
subsidiaries, provides perishables and specialty food products to
the wholesale foodservice industry.


INT'L COMMERCIAL: Swings to $5,500 Profit in Second Quarter
-----------------------------------------------------------
International Commercial Television Inc. filed with the U.S.
Securities and Exchange Commission its quarterly report on Form
10-Q, reporting net income of $5,588 on $687,142 of net sales for
the three months ended June 30, 2011, compared with a net loss of
$317,301 on $896,453 of net sales for the same period a year ago.

The Company also reported a net loss of $227,941 on $1.22 million
of net sales for the six months ended June 30, 2011, compared with
a net loss of $392,429 on $2.22 million of net sales for the same
period during the prior year.

The Company's balance sheet at June 30, 2011, showed $704,645 in
total assets, $1.72 million in total liabilities, and a
$1.01 million total shareholders' deficit.

The Company reported a net loss of $795,913 on $3.90 million of
net sales for the year ended Dec. 31, 2010, compared with a net
loss of $241,135 on $5.89 million of net sales during the prior
year.

As reported by the TCR on April 2, 2011, EisnerAmper, LLP, in
Edison, New Jersey, noted that the Company's recurring losses from
operations and negative cash flows from operations raise
substantial doubt about the Company's ability to continue as a
going concern.  The Company generated negative cash flows from
operating activities in the past fiscal year of approximately
$319,000, and the Company, for the most part, has experienced
recurring losses from operations.  The Company had negative
working capital of approximately $879,000 and an accumulated
deficit of approximately $6,218,000 as of Dec. 31, 2010.

The Company said there is no guarantee that it will be successful
in bringing its products into the traditional retail environment.
If the Company is unsuccessful in achieving this goal, the Company
will be required to raise additional capital to meet its working
capital needs.  If the Company is unsuccessful in completing
additional financings, it will not be able to meet its working
capital needs or execute its business plan.  In such case the
Company will assess all available alternatives including a sale of
its assets or merger, the suspension of operations and possibly
liquidation, auction, bankruptcy, or other measures.

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

                        http://is.gd/Kqq1H1

                  About International Commercial

Bainbridge Island, Wash.-based International Commercial Television
Inc. was organized under the laws of the State of Nevada on
June 25, 1998.  The Company sells various consumer products.  The
products are primarily marketed and sold throughout the United
States and internationally via infomercials.


INTERNATIONAL RARITIES: Coin Firm, Mired in Suits, Seeks Ch. 11
------------------------------------------------------------------
Minneapolis, Minnesota-based International Rarities Corp. filed a
Chapter 11 petition (Bankr. D. Minn. Case No. 11-45512) in its
hometown on Aug. 19, 2011.

Dan Browning at the Star Tribune reports that the downtown
Minneapolis coin firm filed a last-minute petition for bankruptcy
protection as it headed for trial this week in Florida on
allegations that it bilked an elderly man out of more than
$335,000.

According to the report, International Rarities, which is also
under investigation by the Minnesota attorney general's office on
allegations of consumer fraud, disclosed assets of $1.4 million
and liabilities exceeding $3 million.

The report says the bankruptcy effectively stayed a federal
lawsuit brought by Dean Dellinger of Milton, Fla., who alleges
that the coin company cheated him on a series of gold and silver
trades.  International Rarities disputes the allegations.


The report notes International Rarities' bankruptcy petition lists
29 creditors from around the country who sent in just over
$1 million for coins but never got them.  It also lists more than
21 creditors with potential claims of nearly $900,000 from
investments they made in International Rarities Holdings Inc. of
Las Vegas.

The report relates that David Marion, who owns International
Rarities, set up the holding company in a failed plan to take the
coin business public and expand nationwide.  Despite heightened
interest in precious metals as a hedge against inflation,
International Rarities' revenue declined.  The bankruptcy petition
says the business brought in $24 million in 2009, but just $15.7
million in 2010.

According to the report, International Rarities issued a statement
Monday in response to a reporter's questions and said its
reorganization plan includes "100 percent payback to customers of
International Rarities Corporation and investors in International
Rarities Holdings."

The Company blamed the failure of its expansion effort on "outside
experts" Mr. Marion hired to help manage and market the investment
offering.

The bankruptcy petition indicates that Mr. Marion stepped down
from his role as president and CEO in July, along with his chief
operating officer, Catherine Chambers.  Both are listed among the
creditors with unspecific indemnification claims. Marion also says
he's owed $454,533 from a loan he made to the company.

Stephen J. Hastings of Eden Prairie is listed as president of the
firm.  The Internal Revenue Service filed a tax lien against him
in May for $257,458, and the state of Minnesota filed one last
October for $27,943.  A spokesman said Hastings' tax issues are
related to another turnaround effort he worked on, and that he is
addressing them.


J.C. EVANS: U.S. Trustee Appoints 7-Member Creditor's Panel
-----------------------------------------------------------
Judy A. Robbins, United States Trustee for Region 7, under 11
U.S.C. Sec. 1102(a) and (b), appointed seven unsecured creditors
to serve on the Official Committee of Unsecured Creditors of J.C.
Evans Construction.

The Creditors Committee members are:

      1. Yann Vessely
         Austin Traffic Signal Construction Co.
         P.O. Box 130
         Round Rock, TX 78680
         Tel: (512) 255-9951
         Fax: (512) 255-0416

      2. Doug Stayton
         Dan A. Stewart, Inc.
         P.O. Box 17336
         Austin, TX 78760
         Tel: (512) 385-0510
         Fax: (512) 385-1341

      3. Craig Burkert (voting)
         Gerald Cook
         Romco Equipment Co.
         P.O. Box 560248
         Dallas, TX 75256
         Tel: (214) 819-4140
         Fax: (214) 819-4131

      4. Steven DeLeod
         Austin Bridge & Road
         12112 Volente Rd.
         Austin, TX 78726
         Tel: (512) 381-0008
         Fax: (512) 219-6219

      5. Dawn Dickert/Lynn Guynes
         Hanson Pipe & Precast
         8505 Freeport Pkwy Irving,
         TX 75063
         Tel: (469) 417-1302
         Fax: (866) 924-3067

      6. Joseph Pierson
         Construction Risk Solutions LLC
         11311 McCormick Rd. Ste. 450
         Hunt Valley, MD 21031
         Tel: (443) 798-7488
         Fax: (443) 798-7290

      7. Terry B. Ludzenski
         Holt Texas Ltd.
         P.O. Box 207916
         San Antonio, TX 78220
         Tel: (210) 304-8623
         Fax: (210) 333-0541

                   About J.C. Evans Construction

With roots stretching back over 55 years, J.C. Evans is a heavy
equipment construction company based in Leander, Texas.  Through
J.C. Evans Construction Co., L.P., a Texas limited partnership
d/b/a/ American Aggregates, the Company owns and operates a
construction company specializing in heavy site preparation on
commercial, pipeline, utility and highway projects, including
excavating, trenching, site preparation and construction.  Through
Adkins Land Development, L.P., a Texas limited partnership, the
Company owns a 700-acre quarry, which produces aggregate for use
in road construction.

J.C. Evans Construction Holdings is the holding company that owns
directly or indirectly each of the other entities.  In turn,
Holdings is owned by a trust for the benefit of the current and
former employees of J.C. Evans through an Employee Stock Ownership
Plan.

Six affiliated companies filed for Chapter 11 (Bankr. W.D. Tex.
Case Nos. 11-11926 to 11-11931) on Aug. 1, 2011.  These are JCE
Delaware Inc., J.C. Evans Construction Holdings, J.C. Evans
Nevada, LLC, EQUUS Development Inc., J.C. Evans Construction and
Adkins Land Development.  The cases are jointly administered
before Judge Craig A. Gargotta.  George H. Tarpley, Esq., and
Mark E. Andrews, Esq., at Cox Smith Matthews Incorporated, serve
as bankruptcy counsel.  In its petition, JCE Delaware estimated
$50 million to $100 million in both assets and debts.


JAMES MCDILDA: Bankruptcy Won't Affect $600,000 of Housing Loans
----------------------------------------------------------------
James McDilda, a landlord and former Redding City Council
candidate, filed for Chapter 11 bankruptcy protection (Bankr. E.D.
Calif. Case No. 11-35260) on June 20, 2011.

Scott Mobley at redding.com reports that according to Mr. McDilda,
the bankruptcy proceedings won't endanger the nearly $600,000 of
affordable housing loans he's taken out through the city of
Redding, California, to help refurbish the 60 apartments he owns
on Wilson Avenue in the southeast part of town.

Mr. McDilda sought bankruptcy before a 27 foreclosure auction of
four Wilson Avenue apartment buildings for $2.8 million of
outstanding debt to Five Star Bank.

The report says Mr. McDilda has told the court he intends to
reorganize his finances by mid-September.  Meanwhile, he has
agreed to funnel the $40,000 of monthly income from his apartments
into fixed payments to his main creditors, including $750 each
month to the city and $2,660 to Shasta County for delinquent
property taxes.  Mr. McDilda said he owes the county $82,085.


JEFFERSON, AL: Local Borrowers Punished as County Faces Bankruptcy
------------------------------------------------------------------
Michael Bathon at Bloomberg News reports that local governments in
Alabama, where thousands of highways and bridges are overdue for
repairs, face higher borrowing costs for public projects as
Jefferson County debates filing the nation's biggest municipal
bankruptcy.  A town that wants to borrow for road improvements or
building renovations will pay about 0.2 percentage point more than
one with the same credit rating in another state, even if the debt
has nothing to do with Jefferson County, said Jonathan Nordstrom,
a managing director at Morgan Keegan & Co., which he said is the
top Alabama underwriter.  If the issuer is in Jefferson County, it
might be stuck with 0.8 percentage point more in regular interest
rates, he said.

               Commission President Wants Ch. 9 Option

According to Bloomberg News, Jefferson County Commission President
David Carrington said Aug. 22 they won't agree to a debt
restructuring deal that rules out the possibility of filing for
bankruptcy protection.  Mr. Carrington, who is traveling to New
York this week to speak with creditors in a failed $3.14 billion
sewer bond refinancing, wants the option open because the county
hasn't shored up its general fund after a court struck down a wage
tax.  "If a condition is we agree to not file Chapter 9, that's
a nonstarter," Carrington told reporters yesterday in his
Birmingham office.

The county rejected an offer Aug. 12 that would have reduced debt
to $2.33 billion and required Alabama Governor Robert Bentley to
give his permission before the county could file for bankruptcy.
It has until Sept. 16 to negotiate another offer.  The county has
proposed debt be reduced by another $140 million, Mr. Carrington
said.

Bloomberg News notes that a deal would probably need the approval
of Alabama's Legislature.  Under the creditors' proposed
agreement, the debt would come with a "moral obligation" backing
from the state, requiring lawmakers' approval and estimated to be
worth more than $1 billion in reduced interest rates.

                         Hostile Legislature

Bloomberg News said in a separate report that a settlement that
would let Jefferson County avoid municipal bankruptcy hinges on
help from a legislature that so far hasn't been willing or able to
offer it.  Even Jefferson's own lawmakers are divided over
Governor Robert Bentley's proposal to offer the state's moral
obligation to back a restructuring of the county's $3.14 billion
sewer debt, and on how and whether to bolster its general fund.
Both measures are critical to keeping the state's most populous
county afloat, according to officials there.

Bloomberg noted that just one local lawmaker can derail a deal,
according to rules for county-specific bills. It happened most
recently in June, when Republican Senator Scott Beason of
Gardendale killed a measure that would have let Jefferson replace
a wage tax that a court struck down, gutting its general fund.

                     About Jefferson County

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

Jefferson County is trying to restructure $3.14 billion in sewer
debt.  A bankruptcy by Jefferson County stands to be the largest
municipal bankruptcy in U.S. history.  It could beat the record of
$1.7 billion set by Orange County, California in 1994.

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

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

A Chapter 9 filing Jefferson County would be the largest in U.S.
municipal history.


JEFFREY GEFTOS: Court Says Plan Outline Has Defects
---------------------------------------------------
Bankruptcy Judge Thomas J. Tucker declined to grant preliminary
approval of the disclosure statement contained in Jeffrey J.
Geftos and Cynthia Geftos' Combined Chapter 11 Plan of
Reorganization and Disclosure Statement filed Aug. 1, 2011, citing
a laundry-list of problems that the Debtors must correct.  The
Debtors were required to file revisions to the disclosure
statement by Aug. 16.  A copy of the Court's Aug. 11, 2011 Order
is available at http://is.gd/fjnQYNfrom Leagle.com.

Jeffrey J. Geftos and Cynthia Geftos filed for Chapter 11
bankruptcy (Bankr. E.D. Mich. Case No. 11-49372) on April 1, 2011.


JONES SODA: Incurs $1.8 Million Net Loss in 2nd Quarter
-------------------------------------------------------
Jones Soda Co. filed its quarterly report on Form 10-Q, reporting
a net loss of $1.8 million on $4.9 million of revenue for the
three months ended June 30, 2011, compared with a net loss of
$1.6 million on $5.4 million of revenue for the same period last
year.

The Company reported a net loss of $3.5 million on $9.0 million of
revenue for the six months ended June 30, 2011, compared with a
net loss of $3.7 million on $9.3 million of revenue for the same
period last year.

The Company's balance sheet at June 30, 2011, showed $11.5 million
in total assets, $3.6 million in total liabilities, and
stockholders' equity of $7.9 million.

As reported in the TCR on March 28, 2011, Peterson Sullivan LLP,
in Seattle, Washington, expressed substantial doubt about Jones
Soda Co.'s ability to continue as a going concern, following the
Company's 2010 results.  The independent auditors noted that the
Company has experienced recurring losses from operations and
negative cash flows from operating activities.

A copy of the Form 10-Q is available at http://is.gd/njtK1j

Headquartered in Seattle, Washington, Jones Soda Co.
(NASDAQ: JSDA) -- http://www.jonessoda.com/-- markets and
distributes premium beverages under the Jones Soda, Jones Pure
Cane Soda(R) and Whoopass Energy Drink(R) brands and sells
through its distribution network in markets primarily across North
America.


KIEBLER RECREATION: Peek'n Peak Resort Has "Several Bids"
---------------------------------------------------------
Dennis Phillips at the Post-Journal reports that there is interest
from several bidders to purchase the Peek'n Peak Resort & Spa.

"There was interest.  They have received several bids," the report
quotes Richard Dixon, Chautauqua County Industrial Development
Agency chief financial officer and chair for the Unsecured
Creditors Committee in the resort's bankruptcy case, as saying.
"Now they will consider the bids to make sure they meet
qualifications and specifications."

According to court documents filed in July, the resort will either
be sold through competitive bidding or a live auction.  Those
interested in bidding on the resort had until August 12 to submit
a proposal to David O. Simon, the court-appointed trustee
overseeing the Peak's operations.

Mr. Simon told The Post-Journal the exact number of bids received
could not be released because the bankruptcy case is ongoing.

The report says now that the bids are in, Simon and officials
representing the primary creditor, Huntington National Bank, will
review and negotiate with those submitting the three top offers -
or all bids within 10 percent of the highest purchase price.

Mr. Simon and bank officials will select the top offers and meet
with qualified bidders to negotiate the final price for the
purchase of the resort.  Each of the top qualified bidders will
submit its final, highest and best offer on a purchase agreement
form by Monday.

At the discretion of Simon and Huntington, the trustee may notify
the top bidders that in lieu of accepting a final offer an auction
will occur August 24.  The highest offer at the auction will be
the successful bidder.

The report notes the court will then conduct a final hearing to
consider approval of the successful bid Aug. 25.

                     About Kiebler Recreation

Peek'n Peak Resort -- http://www.pknpk.com/-- is a recreational
and leisure facility.

Findley Lake, New York-based Kiebler Recreation, LLC, dba Peek'n
Peak Resort, filed for Chapter 11 bankruptcy protection (Bankr.
N.D. Ohio Case No. 10-15099) on May 26, 2010.  Robert C. Folland,
Esq., at Thompson Hine LLP, has withdrawn as counsel to the
Debtor.  The Company estimated assets and debts at $10 million to
$50 million as of the Petition Date.

David O. Simon was appointed by the U.S. Trustee as acting
bankruptcy trustee to the Debtor on June 8, 2011.  Kohrman,
Jackson & Krantz P.L.L. serves as counsel to the Trustee.  The
Trustee tapped Jones Lang LaSalle Americas, Inc., as investment
banker/business broker to market the Debtor's assets.

An affiliate, Kiebler Slippery Rock, LLC, filed a separate Chapter
11 petition on September 25, 2009 (Bankr. N.D. Ohio Case No. 09-
19087).


KINETIC CONCEPTS: S&P Gives 'BB-' Rating on Senior Secured Debt
---------------------------------------------------------------
Standard & Poor's Ratings Services assigned a 'BB-' senior secured
issue-level rating and '1' recovery rating on San Antonio, Texas-
based medical technology company Kinetic Concepts Inc.'s (KCI)
proposed $200 million revolving credit facility maturing in 2016
and $2.6 billion term loan B maturing in 2018. "The '1' recovery
rating reflects our expectation for very high (90% to 100%)
recovery for senior secured lenders in the event of a default,"
S&P related.

"We have assumed that KCI will issue $2.15 billion of notes
(unrated at this time) in the future, which will be subordinate to
the proposed senior secured revolver and term loan. KCI's 'BB+'
corporate credit rating remains on CreditWatch with negative
implications. We originally placed KCI's corporate credit rating
on CreditWatch Negative on July 8, 2011, following reports that
that the company may be subject to a takeover by a private-equity
firm," S&P related.

"We view KCI's pro forma financial risk profile as highly
leveraged given initial adjusted debt to EBITDA, per our
calculations, of over 7.0x. We expect this ratio to quickly drop
below 6.5x in 2012 due to the elimination of patent royalty
payments to Wake Forest and the company's cost-saving initiatives;
Wake Forest's patents were recently found to be invalid.
Notwithstanding this modest de-leveraging, we expect funds from
operations to debt in 2012 to remain weak (5%) given the company's
high interest expense. We believe that KCI will operate with a
stretched financial risk profile for at least the next two years.
We view its pro forma liquidity profile as adequate," S&P stated.

"We continue to view KCI's business risk profile as fair, given
its significant dependence on vacuum-assisted closure (VAC)
devices (70% of 2010 revenues), despite the company's well-
entrenched market positions in VAC devices and products in its
LifeCell division. Product concentration exposes the company
to competitive technological developments and potential third-
party pricing pressure. Furthermore, KCI's primary competitor,
Smith & Nephew, has been aggressively marketing its wound therapy
product, which we believe has somewhat limited pricing and growth
of the VAC. However, KCI largely has been able to maintain its
revenues, and we believe Smith & Nephew's market share remains
very small; KCI has maintained significant market share despite
competition," S&P related.

"Nevertheless, VAC sales have slowed, but remain rather steady.
While there are no clinical studies directly comparing the VAC
with other wound closure devices, we believe the demand for the
VAC and its success in the acute-care setting may imply superior
efficacy. Moreover, KCI's established distribution channel and the
VAC's demonstrated market acceptance may be difficult for a
competitor to overcome. Increased competition and reimbursement
changes may slow KCI's growth, but we have factored this
possibility into our assessment of the company's business risk
profile," S&P stated.

Litigation risks remain an uncertainty and could pose a call on
liquidity over the next few years. KCI has been involved in
several patent disputes regarding the use of negative pressure
wound therapy. As a result of the company's patent cases being
invalidated in October 2010, KCI is no longer making royalty
payments to Wake Forest. This will save KCI roughly $85 million
annually for three and a half years; the U.S. patents are set to
expire in June 2014. "While we believe that it is unlikely, an
outcome that requires KCI to make royalties payments (particularly
retroactively) would weaken the company's liquidity and could lead
to a downgrade," S&P related.

"Following the completion of the proposed LBO (likely before the
end of 2011), we expect to remove our corporate credit rating on
KCI from CreditWatch and lower it to 'B' from 'BB+', reflecting
increased debt leverage and low cash flow relative to future debt.
At the same time, we expect to assign an outlook of stable,
reflecting the company's relatively stable operating performance
and cash flows throughout the recent three-year global economic
downturn," S&P stated.

This should partially offset the company's very high interest
expense and capital expenditures.

Ratings List

Ratings Remaining On CreditWatch

Kinetic Concepts Inc.
Corporate Credit Rating           BB+/Watch Neg/--

New Ratings

Kinetic Concepts Inc.
Senior Secured
  $2.6 bil term loan B due 2018    BB-
   Recovery Rating                 1
  $200 mil revolver due 2016       BB-
   Recovery Rating                 1


LAMBUTH UNIVERSITY: Committee Taps Stephen Hughes as Attorney
-------------------------------------------------------------
Tajuana Cheshier at the Jackson Sun reports that a group of
unsecured creditors is seeking legal representation from Milan
attorney Stephen L. Hughes in Lambuth University's Chapter 11
bankruptcy protection case.

According to the report, the Unsecured Creditors Committee has
filed a petition asking for court approval in employing Hughes as
its attorney.  In the petition, the Committee states that Hughes
does not hold any adverse interest in the case.

The report says Hughes has agreed to represent the unsecured
creditors for a compensation rate of $235 an hour.  He will be
responsible for preparing applications, answers, orders, reports
and other legal papers.

A hearing is scheduled at 9:30 a.m. Sept. 7 should any unsecured
creditors protest Hughes' application.  The hearing will not take
place if there are no protests.

                     About Lambuth University

Lambuth University in Jackson, Tennessee, said in its Web site
that the trustees of the liberal arts school, founded in 1843,
decided to close the school effective June 30, 2011.  Lambuth
filed for Chapter 11 protection (Bankr. W.D. Tenn. Case No. 11-
11942) in Jackson, Tennessee on the same day.

Steven N. Douglass, Esq., at Harris Shelton Hanover Walsh,
PLLC, serves as counsel to the Debtor.  The Debtor estimated
assets of up to $10 million and debts of $10 million to $50
million as of the Chapter 11 filing.


LANIER HEALTH: S&P Revises Outlook on 'BB' Rating to Positive
-------------------------------------------------------------
Standard & Poor's Ratings Services revised the outlook to positive
from stable on its 'BB-' long-term rating and affirmed the rating
on Lanier Health Services (Lanier), Ala.'s series 1997A bonds,
issued for Chattahoochee Valley Hospital Society Inc.

"The positive outlook reflects continued improvement in Lanier's
operating and balance sheet metrics, although both remain
constrained and characteristic of a non-investment grade credit
rating. A future upgrade will require additional and substantial
improvement in balance sheet metrics and operating performance, as
well as a reversal of the negative patient volume trend. By
contrast, the return to a stable outlook or a downgrade could
result if patient volumes continue to decline and the hospital
does not sustain financial improvements," said Standard & Poor's
credit analyst Karl Propst.

Positive credit factors, in Standard & Poor's opinion, include:

    Improving operating income metrics, resulting from revenue and
    cost initiatives implemented by the hospital;

    Recent success recruiting clinical staff to the area; and

    The presence of a $1.2-billion Kia Motors Corp. assembly plant
    five miles from Lanier that began manufacturing cars last
    year. Officials expect it to bring more than 3,500 direct Kia
    jobs to the region. Kia suppliers have created more than 8,000
    jobs in the surrounding counties.

Negative credit factors, in Standard & Poor's view, include:

    Lanier's $608,000 net operating loss for fiscal 2010, and
    $58,000 operating loss for the nine months ended March 31,
    2011, although these metrics continue to improve;

    Declining patient volumes;

    Weak liquidity characterized by unrestricted cash and
    investments to $7.1 million (as of March 2011), or 68 days'
    cash on hand, and 56% cash to total debt;

    Maximum annual debt service coverage that, while improved to
    1.4x at fiscal year-end 2010, remains weak; and

    An increasingly competitive landscape.

A pledge of the hospital's unrestricted accounts receivable
secures the series 1997A bonds.


LEED CORP: DIP Loans Approved for Old School Project Completion
---------------------------------------------------------------
The Hon. Jim D. Pappas of the Bankruptcy Court for the District of
Idaho authorized The Leed Corporation to enter into a secured
transaction with Equity Trust Company custodian FBO Neal C.
Hocklander IRA, or some other provider.

As reported in the Troubled Company Reporter on July 26, 2011, the
Debtor is real estate developer, including construction and land
development, well as landscaping and related care and maintenance
in southern Idaho, primarily based out of Shoshone, Idaho.

In 2009, the Debtor was unable to complete fifteen residential
properties due to the conduct of CL& M and its related lenders for
which CL&M was the loan servicer.  CL&M was the loan servicer on
the initial loans used to acquire these 15 homes; however, in the
fall of 2009 CL&M failed to fund the required construction loan
draws.

The Debtor is unable to obtain credit for its construction
business operations with regards to the Old School Project lots.

The terms of the loans include:

Amount of Loans:              Loan No. 1: $242,000;
                              Loan No. 2: $100,000, revolving line
                              of credit

Purpose:                      Loan No. 1: To fund the settlement
                              agreements with the New Hampshire
                              chapter 7 Trustee and with David &
                              Jodi Orr with regards to their
                              respective asserted liens in the Old
                              School Project lots;

                              Loan No. 2: To complete
                              construction on partially built new
                              residential housing on a revolving
                              basis;

Interest Rate/Credit Terms:   Loan No. 1: 12% per annum from the
                              date of disbursement, with 10 points
                              being attributable for loan fees;
                              Loan No. 2: Upon the sale and
                              closing of each of the Old School
                              Project lots, the loan draws
                              disbursed under this Note will be
                              paid, without interest, in the
                              amount attributable to the lot then
                              being sold.  The lender will also be
                              33% of the Net Profit (in lieu of
                              other interest or points under this
                              Note) from each of the Old School
                              Project lots at the time of closing.

Date of Repayment:            Loan No.  1: Due and payable upon
                              the sale and closing of each of the
                              15 Old School Project lots, with
                              1/15 be due with respect to each
                              lot, with the unpaid principal and
                              accrued interest being due upon
                              maturity of May 31, 2013;
                              Loan No.  2: On or before the last
                              day of the 24th month following the
                              date of the first disbursement or
                              loan draw, but in no event extending
                              beyond to May 31, 2013;

Collateral:                   The Notes will be secured by a Deed
                              of Trust encumbering certain real
                              property located in Lincoln County,
                              the property consisting of the
                              Debtor's interest in 15 lots,
                              commonly known as the Old School
                              Project.  The Equity credit facility
                              will prime the existing liens and
                              security interests of secured
                              creditors who are not parties to the
                              agreement.

The Equity Credit Facility will constitute a lien on the 15 Old
School Project lots, that will be, a first priority lien, senior
to all other existing encumbrances on the property.  All other
existing encumbrances on the property are subordinated to the
Equity Credit Facility.

                    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: Dechert Has Nod to Assist Directors in JPM Suit
----------------------------------------------------------------
Bankruptcy Judge James Peck authorized Dechert LLP to provide
legal assistance to former and incumbent directors who may be
summoned to testify in connection with a lawsuit Lehman Brothers
Holdings Inc. filed against JPMorgan Chase Bank, N.A.

The directors are Michael Ainslie, John Akers, Roger Berlind,
Thomas Cruikshank, Marsha Johnson Evans, Sir Christopher Gent,
Jerry Grundhofer, Roland Hernandez, Henry Kaufman and John
Macomber.

LBHI sued JPMorgan early last year to recover billions of dollars
that it allegedly seized as collateral.  The bank allegedly
threatened to discontinue its services unless LBHI posted
excessive collateral.

JPMorgan served as LBHI's main clearing bank in the 2008
financial crisis, lending the company's brokerage more than $100
billion a day to settle trades and repurchase agreements.

                    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: Partial Dismissal of LBS ERISA Suit Granted
------------------------------------------------------------
The U.S. District Court for the Southern District of New York
granted in part and denied in part a motion to dismiss a lawsuit
relating to the lending practices of Lehman Brothers Holdings,
Inc.

Beginning in September 2008, Bank of America Securities LLC,
Merrill Lynch & Co., Merrill Lynch, Pierce, Fenner &
Smith Incorporated, Countrywide Securities Corporation and
LaSalle Financial Services Inc., along with other underwriters
and individuals, were named as defendants in several putative
class action lawsuits filed in federal and state courts.  All of
these cases have since been transferred or conditionally
transferred to the U.S. District Court for the Southern District
of New York under the caption In re Lehman Brothers Securities
and Employee Retirement Income Security Act Litigation.
Plaintiffs allege that the underwriter defendants violated
Section 11 of the Securities Act of 1933, as well as various
state laws, by making false or misleading disclosures about the
real estate-related investments and mortgage lending practices of
Lehman Brothers Holdings, Inc. in connection with various debt
and convertible stock offerings of LBHI.  Plaintiffs seek
unspecified damages.

On June 4, 2010, defendants filed a motion to dismiss the class
action complaint, and on July 27, 2011, the court granted in part
and denied in part the motion.  Certain of the allegations in the
complaint that purported to support the Section 11 claim against
the underwriter defendants were dismissed; others were not
dismissed relating to alleged misstatements regarding LBHI's
leverage and financial condition, risk management and risk
concentrations.

                    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: FINRA Orders Broker to Repay $2.2-Mil.
-------------------------------------------------------
A Financial Industry Regulatory Authority arbitration panel
ordered a former broker of Lehman Brothers Holdings Inc. to repay
the firm around $2.2 million, according to an August 9, 2011
report by Thomson Reuters.

The arbitrators ordered former broker Bryon James Botsford to pay
$2 million in compensatory damages and $204,066 in interest for
breaching the terms of two promissory notes that he signed in
2008.

Mr. Botsford will continue to accumulate a penalty of 3% on the
$2 million award from July 20, 2011, until he completely repays
the award, Thomson Reuters reported.

Mr. Botsford, who is currently employed with Citigroup Global
Markets in California, joined Lehman in 2008 in Menlo Park,
California, according to FINRA BrokerCheck records.

                    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: Unable to Provide Info in SEC Form 13-F
--------------------------------------------------------
Lehman Brothers Holdings Inc. filed with the U.S. Securities and
Exchange Commission on August 12, 2011, a report stating the
inability of the company and its brokerage to provide the
information required on Form 13F.

LBHI said it won't be able to provide the information due to the
sale of the major businesses of the company and its brokerage,
Lehman Brothers Inc.   The company also blamed the filing of
administrative and civil rehabilitation cases of its
subsidiaries, which comprise parts of its European and Asian
businesses that resulted in portions of the securities trading
records and systems of the company and LBI unavailable and non-
accessible.

"As a result of the sale and actions taken by certain creditors
with respect to Section 13(f) securities that had been pledged by
the [Lehman companies] or their affiliates as collateral to those
creditors, the [Lehman companies] cannot compile an accurate
accounting of Section 13(f) securities held," the SEC filing
said.

LBHI said they are currently reconciling discrepancies in
information they have with respect to those securities.

                    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)


LINDEN PONDS: Wins Confirmation of Chapter 11 Plan
--------------------------------------------------
Hingham Campus, LLC and Linden Ponds, Inc., won approval of their
disclosure statement and confirmation of their plan of
reorganization at a hearing Aug. 18, only 64 days after the filing
of the Debtors' non-prepackaged chapter 11 cases.

Bankruptcy Judge Stacey G. C. Jernigan approved the Debtors'
disclosure statement on a final basis after conditionally
approving the disclosure statement at the first-day hearing and
confirmed the Debtors' plan.

Pursuant to the plan of reorganization, the Debtors restructured
$152 million in municipal bond debt and paid all unsecured
creditors in full.  The Debtors continued to operate their
continuing care retirement community in Hingham, Massachusetts,
during the chapter 11 cases and will continue to do so after the
effective date of the plan of reorganization.

According to Bill Rochelle, the bankruptcy columnist for Bloomberg
News, the Debtors' lawyer Thomas Califano of DLA Piper, said "The
principal reduction was approximately $900,000."

                        About Linden Ponds

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

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

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

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

The DLA Piper team led by Thomas R. Califano (New York), George
South (New York), Vince Slusher (Dallas), Jason Karaffa (New York)
and Andy Zollinger (Dallas) represent Hingham in the Chapter
11 case.  Attorneys at McGuire, Craddock & Strother, P.C., and
Whiteford, Taylor And Preston, L.L.P., represent Linden Ponds.


LUMEA STAFFING: Two Lumea Inc. Units in Chapter 11
--------------------------------------------------
Two units of Lumea Inc., a human resources industry company, filed
for Chapter 11 protection in Phoenix, Arizona.

Carla Main at Bloomberg News reports that the largest unsecured
creditors of Lumea Staffing Inc. are the Internal Revenue Service,
with a disputed claim of $10.37 million, and Easy Staffing
Services Inc., with disputed claims of $4.6 million and $1.04
million subject to ongoing civil suits. Other unsecured creditors
include state taxing authorities.

The IRS and Easy Staffing Services are also the largest unsecured
creditors of Lumea Staffing of CA.  The IRS has a disputed claim
against that debtor for $3.9 million and Easy Staffing has
disputed claims of $1.04 million and $4.46 million.

Lumea Staffing, Inc., and Lumea Staffing of CA, Inc., filed
Chapter 11 petitions (Bankr. D. Ariz. Case Nos. 11-23582 and
11-23585) on Aug. 17, 2011.  Dean M. Dinner, Esq., at Nussbaum
Gillis & Dinner, P.C., in Scottsdale, Arizona, serves as the
Debtors' counsel. The Debtors each estimated assets of up to
$500,000 and debts of up to $50 million.


MADISON 92ND: Marriott Unit Wants to Use Hotel Revenues
-------------------------------------------------------
Courtyard Management Corporation, which manages and operates the
Upper East Side Courtyard by Marriott pursuant to an agreement
with hotel owner Madison 92nd Street Associates, LLC, asks the
Bankruptcy Court:

     -- for authority to use postpetition revenues generated from
        the hotel's operation to satisfy the Debtor's postpetition
        obligations under the parties' Management Agreement;

     -- for authority to continue using its cash management system
        in accordance with the Management Agreement, and

     -- to modify the automatic stay pursuant to 11 U.S.C. Sec.
        362(d) and grant it authority to use cash collateral to
        implement the foregoing.

Courtyard Management is a wholly-owned subsidiary of Marriott
International, Inc., and is in the business of exclusively
managing hotels under the "Courtyard by Marriott" brand.
Courtyard by Marriott is a moderately priced lodging brand
"designed by business travelers for business travelers."

Courtyard Management explained to the Court it is making the
request as the Debtor has not filed a motion for authority to use
cash collateral, which would enable Courtyard Management to pay
postpetition Hotel-related expenses in the ordinary course of
business.

Courtyard Management said the Debtor continues to incur
obligations under the Management Agreement to both its vendors and
to Courtyard Management.  Cash generated from operating the Hotel
is being held by Courtyard Management in its accounts pending
further instruction from the Court.

Without Court authority, Courtyard Management said it would be in
the untenable position of either allowing postpetition expenses to
go unpaid, or alternatively, involuntarily financing the Debtor's
operations.

Courtyard Management acknowledges the revenues generated through
operation of the Hotel are likely the "cash collateral" of various
parties-in-interest in the chapter 11 case, including itself.

Bloomberg News has reported that the Debtor's majority equity
holders are working with Westport Capital Partners LLC to line up
refinancing.

Pursuant to the Management Agreement, dated Oct. 7, 2002, as
amended, Courtyard Management engages various vendors to provide
goods and render services relating to the Hotel on behalf of the
Debtor. Prior to the Debtor's bankruptcy filing, Courtyard
Management paid for the goods and services from the gross revenues
generated from the operation of the Hotel, which includes the
rental of guest rooms to Hotel customers.

The Hotel's revenue is forecasted to exceed expenses on a period
to period basis through the end of 2011.  Prior to the bankruptcy
filing, after payment of the expenses and the fees earned by
Courtyard Management for managing the Hotel, the balance of the
revenues were forwarded to the Debtor's pre-petition secured
lender, General Electric Credit Corporation.

In a declaration filed by the Debtor's representative as required
by Rule 1007-1 of the Local Rules of the Bankruptcy Court, the
Debtor has alleged fraud, mismanagement and breach of contract
against Courtyard Management, most of which have already been
dismissed in the prepetition litigation between the Debtor and
Courtyard Management, and all of which Courtyard Management
refutes.

According to Courtyard Management, the Debtor has stated it
intends to reject the Management Agreement but presumably, for the
time being, expects Courtyard Management to continue performing
under the Management Agreement.

On July 19, 2010, in the case captioned, Madison 92nd Street
Associates, LLC v. Courtyard Management Corporation, Index No.
602762/09 (Supreme Court, New York County), the state court
dismissed the Debtor's claims for misrepresentation/fraud and
breach of fiduciary duty.

               About Madison 92nd Street Associates

Madison 92nd Street Associates, LLC, owns real property improved
by a hotel located at 410 East 92nd Street, New York, known as the
Upper East Side Courtyard by Marriott.  It filed for Chapter 11
bankruptcy protection as lender General Electric Capital Corp.,
owed $74 million, has scheduled a foreclosure sale for Aug. 24,
2011.  The petition (Bankr. S.D.N.Y Case No. 11-13917) was filed
Aug. 16, 2011, before Judge Stuart M. Bernstein.  J. Ted Donovan,
Esq., at Goldberg Weprin Finkel Goldstein LLP, serves as the
Debtor's counsel.  It scheduled $84,471,069 in assets and
$75,398,580 in debts. The petition was signed by Louis Taic,
managing member of 92nd Hotel Associates, LLC and Jeffrey Kosow,
managing member of JKNY, LLC, members of the Debtor.

Courtyard Management Corporation, which manages and operates the
hotel pursuant to a management agreement, is represented by:

          Thomas R. Califano, Esq.
          William M. Goldman, Esq.
          DLA PIPER LLP (US)
          1251 Avenue of the Americas
          New York, NY 10020
          Telephone: (212) 335-4500
          Facsimile: (212) 335-4501
          E-mail: william.m.goldman@dlapiper.com
                  thomas.califano@dlapiper.com


MADISON 92ND: Initial Case Conference Set for Sept. 22
------------------------------------------------------
The Bankruptcy Court will hold an initial case conference in the
chapter 11 case of Madison 92nd Street Associates, LLC, on
Sept. 22, 2011, at 10:00 a.m. at Courtroom 723.

Madison 92nd Street Associates, LLC, owns real property improved
by a hotel located at 410 East 92nd Street, New York, known as the
Upper East Side Courtyard by Marriott.  It filed for Chapter 11
bankruptcy protection as lender General Electric Capital Corp.,
owed $74 million, has scheduled a foreclosure sale for Aug. 24,
2011.  The petition (Bankr. S.D.N.Y Case No. 11-13917) was filed
Aug. 16, 2011, before Judge Stuart M. Bernstein.  J. Ted Donovan,
Esq., at Goldberg Weprin Finkel Goldstein LLP, serves as the
Debtor's counsel.  It scheduled $84,471,069 in assets and
$75,398,580 in debts. The petition was signed by Louis Taic,
managing member of 92nd Hotel Associates, LLC and Jeffrey Kosow,
managing member of JKNY, LLC, members of the Debtor.

Courtyard Management Corporation, which manages and operates the
hotel pursuant to a management agreement, is represented by
lawyers at DLA Piper LLP (US).


MANISTIQUE PAPERS: RBS Wants Chapter 7 Liquidation
--------------------------------------------------
Carla Main at Bloomberg News reports that lender, RBS Citizens NA,
is asking the bankruptcy court to order the appointment of a
trustee to liquidate Manistique Papers Inc.'s assets.

According to the report, RBS Citizens wants U.S. Bankruptcy Judge
Kevin J. Carey to convert Manistique's bankruptcy from a Chapter
11 case, which is used by companies that want to reorganize and
continue operating, to a Chapter 7 case, which is designed to
liquidate assets and put the proceeds in the hands of creditors as
quickly as possible.

Under Chapter 11, management remains in charge of the bankruptcy,
while in Chapter 7, a court-appointed trustee oversees the
liquidation. RBS Citizens said a trustee would be cheaper.

                     About Manistique Papers

Manistique Papers Inc. operates a landfill in Manistique,
Michigan, whereby residuals resulting from paper production are
deposited.

Manistique Papers Inc. filed for Chapter 11 bankruptcy protection
(Bankr. District of Del. Case No. 11-12562) on Aug. 12, 2011.
Daniel B. Butz, Esq., and Eric D. Schwartz, Esq., at Morris,
Nichols, Arsht & Tunnell LLP, serves as the Debtor's bankruptcy
counsel.  Manistique Papers estimated assets of $10 million to
$50 million and debts of $50 million to $100 million in its
Chapter 11 petition.


MARITIME COMMUNICATIONS: 341 Meeting of Creditors on Sept. 23
-------------------------------------------------------------
An 11 U.S.C. Sec. 341(a) meeting of creditors of Maritime
Communications/Land Mobile, LLC is set for Sept. 23, 2011, at
11:30 a.m.  The meeting will be held at:

   Cochran U.S. Bankruptcy Courthouse,
   703 Highway 145 North,
   Aberdeen, MS 39730

The creditors of Maritime Communications/Land Mobile are required
to file their proofs of debt by Nov. 11, 2011 (except a
governmental unit) and Jan. 20, 2012 for government unit.

Maritime Communications/Land Mobile, LLC filed a Chapter 11
petition, (Bankr. D.N.J. Case No. 11-13463) on Aug. 1, 2011, in
Aberdeeen, Mississippi, Craig M. Geno, Esq. at Harris Jernigan &
Geno, Pllc, in Ridgeland, Mississippi, serves as counsel to the
Debtor.  The Debtor estimated up to $50 million in assets and up
to $50 million in liabilities.


MARKETING WORLDWIDE: Incurs $540,000 Net Loss in June 30 Quarter
----------------------------------------------------------------
Marketing Worldwide Corporation filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $539,993 on $449,235 of revenue for the three months
ended June 30, 2011, compared with net income of $695,852 on
$1.05 million of revenue for the same period a year ago.

The Company also reported a net loss of $1.12 million on
$1.31 million of revenue for the nine months ended June 30, 2011,
compared with a net loss of $1.34 million on $3.22 million of
revenue for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $1.66 million
in total assets, $5.23 million in total liabilities, $3.50 million
in Series A convertible preferred stock, and a $7.07 million total
stockholders' deficiency.

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

                        http://is.gd/QCgsDz

                     About Marketing Worldwide

Based in Howell, Michigan, Marketing Worldwide Corporation
operates through the holding company structure and conducts its
business operations through its wholly owned subsidiaries
Colortek, Inc., and Marketing Worldwide, LLC.

Marketing Worldwide, LLC, is a complete design, manufacturer and
fulfillment business providing accessories for the customization
of vehicles and delivers its products to large global automobile
manufacturers and certain Vehicle Processing Centers primarily in
North America.  MWW operates in a 23,000 square foot leased
building in Howell Michigan.

Colortek, Inc., is a Class A Original Equipment painting facility
and operates in a 46,000 square foot owned building in Baroda,
which is in South Western Michigan.  MWW invested approximately
$2 million into this paint facility and expects the majority of
its future growth to come from this business.

As reported in the Troubled Company Reporter on Jan. 24, 2011,
Marcum LLP, in New York, expressed substantial doubt about
Marketing Worldwide'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 the Company
has a working capital deficiency and has suffered substantial
recurring losses from operations.


MAQ MANAGEMENT: U.S. Trustee Will Not Appoint Creditors Committee
-----------------------------------------------------------------
The U.S. Trustee announced that until further notice, it will not
appoint a committee of creditors for the bankruptcy case of MAQ
Management, Inc., pursuant to 11 U.S.C. Sec. 1102.

Based in Boca Raton, Florida, MAQ Management, Inc., and three
other affiliates serve as commercial landlords to convenience
stores and gas stations in primarily in South Florida.  They filed
for Chapter 11 bankruptcy (Bankr. S.D. Fla. Cases No. 11-26571 to
11-26574) on June 15, 2011.  Affiliates that sought Chapter 11
protection are Super Stop Petroleum, Inc., Super Stop Petroleum I,
Inc., and Super Stop Petroleum IV, Inc.  Judge Erik P. Kimball
presides over the case.  Lawyers at Talarchyk Merrill, LLC, serve
as the Debtors' counsel.  MAQ Management estimated assets and
debts of $1 million to $10 million.  Super Stop estimated assets
and debts of $10 million to $50 million.  The petitions were
signed by Mahammad A. Qureshi, CEO.


MEDCLEAN TECHNOLOGIES: Incurs $1.47-Mil. Second Quarter Net Loss
----------------------------------------------------------------
MedClean Technologies, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $1.47 million on $190,557 of total revenues for the
three months ended June 30, 2011, compared with a net loss of
$1.16 million on $131,758 of total revenues for the same period
during the prior year.

The Company also reported a net loss of $3.04 million on $784,181
of total revenues for the six months ended June 30, 2011, compared
with a net loss of $2.75 million on $400,625 of total revenues for
the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $1.41 million
in total assets, $2.22 million in total liabilities, and a
$806,655 total stockholders' deficit.

As reported in the TCR on April 6, 2011, Child, Van Wagoner &
Bradshaw, PLLC, in Salt Lake City, Utah, expressed substantial
doubt about the MedClean Technologies' ability to meet its
obligations and to continue as a going concern, following the
Company's 2010 results.  The independent auditors noted that the
Company has incurred substantial recurring losses.

The Company was not able to obtain all information prior to filing
date and management was not able to complete the required
financial statements and Management's Discussion and Analysis of
such financial statements by Aug. 15, 2011.  As a result, the
Company was late in filing its Quarterly Report.

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

                        http://is.gd/RIETVx

                     About MedClean Technologies

Based in Bethel, Connecticut, MedClean Technologies, Inc.,
provides solutions for managing medical waste on site including
designing, selling, installing and servicing on site (i.e. "in-
situ") turnkey systems to treat regulated medical waste.


MEDL MOBILE: Widens Second Quarter Net Loss to $228,900
-------------------------------------------------------
MEDL Mobile Holdings, Inc., formerly Resume in Minutes, Inc.,
filed its quarterly report on Form 10-Q, reporting a net loss of
$228,915 on $573,068 of revenues for the three months ended
June 30, 2011, compared with a net loss of $12,644 on $168,450 of
revenues for the same period last year.

The Company reported a net loss of $207,991 on $951,723 of
revenues for the six months ended June 30, 2011, compared with a
net loss of $12,417 on $294,847 of revenues for the same period of
2010.

The Company's balance sheet at June 30, 2011, showed $2.36 million
in total assets, $23,586 in total liabilities, and stockholders'
equity of $2.34 million.

While the Company has been generating revenues from various
development contracts, the Company has generated losses totaling
$207,991 and $12,417 for the six months ended June 30, 2011, and
2010, respectively, and $263,019 since March 4, 2009 (inception).

"The Company may need to raise additional funds to carry out its
business plan," the Company said in the filing.

"The successful outcome of future financing activities cannot be
determined at this time and there is no assurance that if
achieved, the Company will have sufficient funds to execute its
intended business plan or generate positive operating results.

"The continuation of the Company as a going concern is dependent
upon the ability of the Company to generate sufficient cash flow
to support its operations or obtain financing to continue
operations.  The Company has had limited operating history to
date.

"These factors raise substantial doubt regarding the ability of
the Company to continue as a going concern."

A copy of the Form 10-Q is available at http://is.gd/KkI3Kw

Fountain Valley, Calif.-based MEDL Mobile Holdings, Inc., is
primarily engaged in the monetization of mobile application
software or "Apps" through four revenue generating platforms: (i)
development of customized Apps for third parties to monetize their
particular intellectual property, persona or brand, (ii)
incubation of Apps in partnership with third parties and from a
library of more than 75,000 original Apps concept submissions,
(iii) sale of advertising and sponsorship opportunities directly
to brands via mobile advertising networks, and (iv) acquisition of
Apps from other developers and use of a proprietary application
programming interface, or API, to make Apps recommendations for
the Company's user base.


MESA AIR: Wants Until Sept. 22 to Object to Claims
--------------------------------------------------
Mesa Air Group, Inc. and its debtor-subsidiaries, as Reorganized
Debtors, sought and obtained an order from Judge Martin Glenn of
the U.S. Bankruptcy Court for the Southern District of New York
extending by 30 days the date by which objections to claims must
be filed, from August 23, 2011 through and including
September 22, 2011.

The Third Amended Chapter 11 Plan of Mesa Air Group, Inc., et
al., which became effective on March 1, 2011, provides that the
Reorganized Debtors will have 175 days from the Effective Date to
object to proofs of claim.  Pursuant to the Plan, the Claims
Objection Deadline expires on August 23, 2011.  The Plan further
provides that the Deadline may be extended upon motion to the
Court.

While a substantial portion of the claims reconciliation process
has been completed, the Reorganized Debtors require additional
time to continue negotiations with certain claimants in an effort
to resolve the claims without the need to file objections, and to
finalize the claims reconciliation process, John W. Lucas, Esq.,
at Pachulski Stang Ziehl & Jones LLP, in New York, says.

The Reorganized Debtors intend to file certain administrative
objections for the purpose of removing from the claims register
those claims that have been resolved, paid, or satisfied through
the terms of the Plan, according to Mr. Lucas.

Because these matters are ongoing, the Reorganized Debtors
require an extension of the Claims Objection Deadline to ensure
that the claims reconciliation process proceeds appropriately and
that any remaining disputed claims are not inadvertently
overlooked or any allowed claims double counted, Mr. Lucas tells
the Court.

He assures the Court that the requested extension is not sought
for improper dilatory purposes and will not unduly prejudice any
claimants.

                         About Mesa Air

Mesa Air currently operates 76 aircraft with approximately 450
daily system departures to 94 cities, 38 states, the District of
Columbia, and Mexico.  Mesa operates as US Airways Express and
United Express under contractual agreements with US Airways and
United Airlines, respectively, and independently as go! Mokulele.
This operation links Honolulu to the neighbor island airports of
Hilo, Kahului, Kona and Lihue.  The Company was founded by Larry
and Janie Risley in New Mexico in 1982.

Mesa Air Group Inc. and its units filed their Chapter 11 petitions
(Bankr. S.D.N.Y. Lead Case No. 10-10018) on Jan. 5, 2010, in New
York, listing assets of $976 million against debt totaling
$869 million as of Sept. 30, 2009.

Richard M. Pachulski, Esq., and Laura Davis Jones, Esq., at
Pachulski Stang Ziehl & Jones LLP, serve as local counsel to the
Debtors.  Imperial Capital LLC is the investment banker.  Epiq
Bankruptcy Solutions is claims and notice agent.  Brett Miller,
Esq., Lorenzo Marinuzzi, Esq., and Todd Goren, Esq., at Morrison &
Foerster LLP, serve as counsel to the Official Committee of
Unsecured Creditors.

Judge Martin Glenn entered a final order confirming the Third
Amended Joint Plan of Reorganization of Mesa Air Group, Inc., and
its debtor affiliates on Jan. 20, 2011.  Under the plan, the
reorganized company will issue new notes, common stock and
warrants to creditors.  Unsecured creditors that are U.S. citizens
will receive a combination of new notes and new common stock,
while unsecured creditors that are Non-U.S. citizens will receive
a combination of new notes and new warrants.  An agreement with US
Airways paved way for the filing of the plan.

Mesa Air's Plan of Reorganization became effective March 1, 2011.
The Company's restructuring accomplishments included elimination
of 100 excess aircraft and associated leases and debt which
contributed to the deleveraging of Mesa's balance sheet in the
approximate amount of $700 million in capitalized leases and
$50 million in debt, and extending the term of the code-share
agreement with US Airways through September 2015.

Bankruptcy Creditors' Service, Inc., publishes Mesa Air Bankruptcy
News.  The newsletter tracks the Chapter 11 proceedings undertaken
by Mesa Air Group Inc. and its units.
(http://bankrupt.com/newsstand/or 215/945-7000).


MESA AIR: Reaches Claims Settlement With Travis County
------------------------------------------------------
Reorganized Mesa Air, the Liquidating Debtors, and the Travis
County, in Texas, have entered into a post-Effective Date
settlement agreement, with the consent and agreement of the Post-
Effective Date Committee.

The Claimant has filed (i) Claim No. 1449 for $1,321,013, and
(ii) Claim No. 1673, which supersedes Claim No. 1449, for
$1,305,676, as a secured tax claim for 2009 and 2010 personal
property taxes.

The parties agree that Claim No. 1673 will be treated as (i)
$644,726, representing the principal amount outstanding for 2009
secured personal property taxes plus interest through February
28, 2011, is allowed as a Secured Tax Claim against Mesa
Airlines, Inc.; and (ii) $636,367, representing the principal
amount outstanding for 2010 secured personal property taxes plus
interest through February 28, 2011, is allowed as a Secured Tax
Claim against Mesa Airlines.  All other amounts asserted by Claim
No. 1673 are disallowed.

Interest will be paid on the 2009 Allowed Secured Tax Claim and
the 2010 Allowed Secured Tax Claim at the rate of 12% per annum
from the Effective Date.

Claim No. 1449 will be disallowed and expunged from the claims
register.

Each party will be responsible for its own costs and expenses.

                         About Mesa Air

Mesa Air currently operates 76 aircraft with approximately 450
daily system departures to 94 cities, 38 states, the District of
Columbia, and Mexico.  Mesa operates as US Airways Express and
United Express under contractual agreements with US Airways and
United Airlines, respectively, and independently as go! Mokulele.
This operation links Honolulu to the neighbor island airports of
Hilo, Kahului, Kona and Lihue.  The Company was founded by Larry
and Janie Risley in New Mexico in 1982.

Mesa Air Group Inc. and its units filed their Chapter 11 petitions
(Bankr. S.D.N.Y. Lead Case No. 10-10018) on Jan. 5, 2010, in New
York, listing assets of $976 million against debt totaling
$869 million as of Sept. 30, 2009.

Richard M. Pachulski, Esq., and Laura Davis Jones, Esq., at
Pachulski Stang Ziehl & Jones LLP, serve as local counsel to the
Debtors.  Imperial Capital LLC is the investment banker.  Epiq
Bankruptcy Solutions is claims and notice agent.  Brett Miller,
Esq., Lorenzo Marinuzzi, Esq., and Todd Goren, Esq., at Morrison &
Foerster LLP, serve as counsel to the Official Committee of
Unsecured Creditors.

Judge Martin Glenn entered a final order confirming the Third
Amended Joint Plan of Reorganization of Mesa Air Group, Inc., and
its debtor affiliates on Jan. 20, 2011.  Under the plan, the
reorganized company will issue new notes, common stock and
warrants to creditors.  Unsecured creditors that are U.S. citizens
will receive a combination of new notes and new common stock,
while unsecured creditors that are Non-U.S. citizens will receive
a combination of new notes and new warrants.  An agreement with US
Airways paved way for the filing of the plan.

Mesa Air's Plan of Reorganization became effective March 1, 2011.
The Company's restructuring accomplishments included elimination
of 100 excess aircraft and associated leases and debt which
contributed to the deleveraging of Mesa's balance sheet in the
approximate amount of $700 million in capitalized leases and
$50 million in debt, and extending the term of the code-share
agreement with US Airways through September 2015.

Bankruptcy Creditors' Service, Inc., publishes Mesa Air Bankruptcy
News.  The newsletter tracks the Chapter 11 proceedings undertaken
by Mesa Air Group Inc. and its units.
(http://bankrupt.com/newsstand/or 215/945-7000).


MESA AIR: HSH Nordbank, et al., Transfer Claims to Bridge Business
------------------------------------------------------------------
HSH Nordbank AG notifies the Court of its intention to sell,
trade, or otherwise transfer its interests, aggregating
$28,309,236, in (i) 76.81% of Claim Nos. 1472 and 1167, and (ii)
36.29% of Claim Nos. 1475 and 1182, which are held in the legal
name of its indenture trustee, U.S. Bank, National Association,
to Bridge Business Services, LLC.

Landesbank Baden-Wurttemberg intends to sell, trade, or otherwise
transfer its interests, aggregating $10,190,318, in 40.67% of
Claim Nos. 1475 and 1182, which claims are held in the legal name
of its indenture trustee, U.S. Bank, to Bridge Business Services,
LLC.

Bank of Scotland PLC proposes to sell, trade, or otherwise
transfer its interests in (i) 23.18% of Claim Nos. 1472 and 1167,
and (ii) 23.03% of Claim Nos. 1475 and 1182, which claims are
held in the legal name of its indenture trustee, U.S. Bank, to
Bridge Business Services, LLC.  Bank of Scotland's interests in
the claims aggregate $11,570,896.

Bridge Business also gives notice to the Court of its intention
to purchase, acquire or otherwise accumulate the Claims.  It
currently beneficially owns Allowed or Disputed Claims against
the Debtors in the aggregate principal amount of $57,256,244, and
zero shares of New Common Stock, zero New Warrants, and zero 2023
Notes or 2024 Notes.

Once the proposed transfer from HSH Nordbank occurs, Bridge
Business will beneficially own claims against the Debtors in the
aggregate principal amount of $85,565,480, plus an additional
$21,761,214 of claims being sold to it by Landesbank and Bank of
Scotland.  If all of the proposed transfers occur, Bridge
Business will hold an aggregate of $107,326,695 in claims.

               Transfers to Riva Ridge Master Fund

HSH NordBank AG notifies the Court of its intention to sell,
trade, or otherwise transfer its interest in Claim No. 1473 in
the allowed amount of $7,452,324 against Mesa Airlines, Inc. to
Riva Ridge Master Fund, Ltd.

In another filing, Landesbank Baden-Wurttemberg informs the Court
of its intention to sell, trade, or otherwise transfer is
interest in Claim No. 1473 in the allowed amount of $7,560,830
against Mesa Airlines to Riva Ridge Master Fund.

Riva Ridge Master Fund also notifies the Court of its intention
to purchase, acquire, or otherwise accumulate the Claims.  Before
the distributions under the Plan were effected, Riva Ridge Master
Fund or its affiliates beneficially owned Allowed or Disputed
Claims against the Debtors in the aggregate principal amount of
$92,601,383, which claims have received distributions of (i) New
Warrants convertible into 204,482 shares of New Common Stock and
(ii) $1,194,493 of New Notes.

Once the proposed transfers occur, Riva Ridge Master Fund will
beneficially own Claims in the aggregate principal amount of
$107,614,537, which corresponds to New Warrants convertible into
252,431 shares of New Common Stock and $1,473,143 of New Notes.

(3) Transfers to DG Value Parties

HSH Nordbank AG informs the Court of its intention to sell,
trade, or otherwise transfer its interests in claims aggregating
$14,955,899 to these entities:

  (a) $6,580,595 to DG Value Partners, LP;
  (b) $4,337,210 to Special Situations X, LLC;
  (c) $1,645,148 to Special Situations, LLC; and
  (d) $2,392,943 to Azimuth Opportunity LP.

HSH Nordbank is proposing to transfer its interests in (i) Claim
No. 1174 in the allowed amount of $7,477,949 against Mesa Air
Group, Inc., and (ii) Claim No. 1474 in the allowed amount of
$7,477,948 against Mesa Airlines, Inc.

Landesbank Baden-Wurttemberg, in another filing, notifies the
Court of its intention to sell, trade, or otherwise transfer
claims aggregating $15,169,548 to the DG Value Parties:

  (a) $6,674,601 to DG Value Partners, LP;
  (b) $4,399,169 to Special Situations X, LLC;
  (c) $1,668,650 to Special Situations, LLC; and
  (d) $2,427,127 to Azimuth Opportunity LP.

Landesbank proposes to transfer its interests in (i) Claim No.
1174 in the allowed amount of $7,584,774 against Mesa Air Group
and (ii) Claim No. 1474 in the allowed amount of $7,584,774
against Mesa Airlines.

The DG Value Parties also provide notice to the Court of their
intention to purchase, acquire or otherwise accumulate the
Claims.  The DG Value Parties currently beneficially owns Allowed
or Dispute Claims against the Debtors in the aggregate principal
amount of $45,678,156 and, other than proceeds of these claims,
zero shares of New Common Stock, zero New Warrants, and zero 2023
Notes of 2024 Notes.

Once the proposed transfers occur, the DG Value Parties will
beneficially own Claims against the Debtors in the aggregate
principal amount of $75,803,605.  In addition, under a separate
transaction from another creditor, the DG Value Parties are in
the process of acquiring an aggregate $28,166,188 of claims
against the Debtors.

                         About Mesa Air

Mesa Air currently operates 76 aircraft with approximately 450
daily system departures to 94 cities, 38 states, the District of
Columbia, and Mexico.  Mesa operates as US Airways Express and
United Express under contractual agreements with US Airways and
United Airlines, respectively, and independently as go! Mokulele.
This operation links Honolulu to the neighbor island airports of
Hilo, Kahului, Kona and Lihue.  The Company was founded by Larry
and Janie Risley in New Mexico in 1982.

Mesa Air Group Inc. and its units filed their Chapter 11 petitions
(Bankr. S.D.N.Y. Lead Case No. 10-10018) on Jan. 5, 2010, in New
York, listing assets of $976 million against debt totaling
$869 million as of Sept. 30, 2009.

Richard M. Pachulski, Esq., and Laura Davis Jones, Esq., at
Pachulski Stang Ziehl & Jones LLP, serve as local counsel to the
Debtors.  Imperial Capital LLC is the investment banker.  Epiq
Bankruptcy Solutions is claims and notice agent.  Brett Miller,
Esq., Lorenzo Marinuzzi, Esq., and Todd Goren, Esq., at Morrison &
Foerster LLP, serve as counsel to the Official Committee of
Unsecured Creditors.

Judge Martin Glenn entered a final order confirming the Third
Amended Joint Plan of Reorganization of Mesa Air Group, Inc., and
its debtor affiliates on Jan. 20, 2011.  Under the plan, the
reorganized company will issue new notes, common stock and
warrants to creditors.  Unsecured creditors that are U.S. citizens
will receive a combination of new notes and new common stock,
while unsecured creditors that are Non-U.S. citizens will receive
a combination of new notes and new warrants.  An agreement with US
Airways paved way for the filing of the plan.

Mesa Air's Plan of Reorganization became effective March 1, 2011.
The Company's restructuring accomplishments included elimination
of 100 excess aircraft and associated leases and debt which
contributed to the deleveraging of Mesa's balance sheet in the
approximate amount of $700 million in capitalized leases and
$50 million in debt, and extending the term of the code-share
agreement with US Airways through September 2015.

Bankruptcy Creditors' Service, Inc., publishes Mesa Air Bankruptcy
News.  The newsletter tracks the Chapter 11 proceedings undertaken
by Mesa Air Group Inc. and its units.
(http://bankrupt.com/newsstand/or 215/945-7000).


MMRGLOBAL INC: Incurs $2.3 Million Net Loss in Second Quarter
-------------------------------------------------------------
MMRGlobal, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q reporting a net loss
of $2.37 million on $165,637 of total revenues for the three
months ended June 30, 2011, compared with a net loss of $7.86
million on $196,097 of total revenues for the same period a year
ago.

The Company also reported a net loss of $4.10 million on $737,618
of total revenues for the six months ended June 30, 2011, compared
with a net loss of $14.32 million on $286,261 of total revenues
for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $2.24 million
in total assets, $6.27 million in total liabilities and a $4.02
million total stockholders' deficit.

"MMRGlobal is a company in the right place at the right time as we
watch the global transformation of healthcare," said Robert H.
Lorsch, MMRGlobal Chairman, president and chief executive officer.
"We are focused on generating revenue through direct to consumer
sales of MyMedicalRecords.com and professional sales of MMRPro
along with patient upgrades.  We are also focused on monetizing
our strategic relationships with companies like Kodak, Chartis,
Alcatel-Lucent, VisiInc in Australia and Unis-Tonghe in China."

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

                        http://is.gd/aHNrBu

                          About MMRGlobal

Los Angeles, Calif.-based MMR Global, Inc. (OTC BB: MMRF)
-- http://www.mmrglobal.com/-- through its wholly-owned operating
subsidiary, MyMedicalRecords, Inc., provides secure and easy-to-
use online Personal Health Records (PHRs) and electronic safe
deposit box storage solutions, serving consumers, healthcare
professionals, employers, insurance companies, financial
institutions, and professional organizations and affinity groups.

As reported by the TCR on April 7, 2011, Rose, Snyder & Jacobs, in
Encino, Calif., expressed substantial doubt about MMRGlobal's
ability to continue as a going concern.  The independent auditors
noted that the Company has incurred significant operating losses
and negative cash flows from operations during the year ended Dec.
31, 2010, and 2009.

The Company reported a net loss of $17.9 million on $972,988 of
revenues for 2010, compared with a net loss of $10.3 million on
$619,249 of revenues for 2009.


MORTGAGEBROKERS.COM: Incurs $145,985 Net Loss in Second Quarter
---------------------------------------------------------------
MortgageBrokers.com Holdings, Inc., filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q
reporting a net loss of $145,985 on $4.09 million of revenue for
the three months ended June 30, 2011, compared with a net loss of
$65,807 on $4.46 million of revenue for the same period during the
prior year.

The Company also reported a net loss of $334,295 on $7.02 million
of revenue for the six months ended June 30, 2011, compared with a
net loss of $147,465 on $7.59 million of revenue for the same
period during the prior year.

The Company's balance sheet at June 30, 2011, showed $2.10 million
in total assets, $3.59 million in total liabilities, and a
$1.49 million total stockholders' deficit.

The Company reported a net loss of $494,009 on $14.28 million of
revenue for the year ended Dec. 31, 2010, compared with net income
of $863,679 on $16.85 million of revenue during the prior year.

As reported by the TCR on April 25, 2011, McGovern, Hurley,
Cunningham, LLP, in Toronto, Canada, noted that the Company's
operating losses, negative working capital, and total capital
deficiency 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/pDpc4C

                 About MortgageBrokers.com Holdings

Based in Toronto, Canada, MortgageBrokers.com Holdings,
Inc., provides mortgage brokerage services in the Canadian
provincial markets of Newfoundland, Nova Scotia, New Brunswick,
Prince Edward Island, Ontario, Saskatchewan and Alberta.


MOUNT LEBANON: Christian Care Acquires Memorial Home for $3 Mil.
----------------------------------------------------------------
Steve Ivey at the Louisville Business Journal reports that
Christian Care Communities Inc. has purchased the former James S.
Taylor Memorial Home in Louisville's West End from Mt. Lebanon
Personal Care Home Inc. for $3 million and plans to renovate the
home before reopening it late this year.

According to the report, Keith Knapp, president and CEO of
Christian Care Communities, said the nonprofit organization plans
to invest about $1.6 million to upgrade the facility, which will
have 92 beds.  The reopening also will bring 100 jobs back to the
community.

Mr. Knapp said U.S. Bankruptcy Judge David T. Stosberg approved
the sale earlier this summer largely because Christian Care
Communities' bid included a promise to keep the West End home in
its current location at 1015 W. Magazine St.

Based in Louisville, Kentucky, Mount Lebanon Personal Care Home
dba James S. Taylor Memorial Home filed for Chapter 11 bankruptcy
protection (Bankr. W.D. Kent. Case No. 10-34999) on Sept. 21,
2010.  Gordon A. Rowe, Jr., Esq., at Law Office of Gordon Rowe,
represents the Debtor.  The Debtor disclosed $5.92 million in
total assets, and $7.03 million in total debts.


MT. VERNON: Can Use Cash Collateral for Operating Expenses
----------------------------------------------------------
Judge David E. Rice approved the application of Mt. Vernon
Properties, LLC, to use cash collateral of Fannie Mae, City
National Bank and Colombo Bank.  The Debtor will use up to
$58,506.87 in cash collateral in accordance with a budget for the
Debtor's operating expenses.

Judge Rice orders the Debtor to deposit $20,952, $26,179, and
$6,513, into three separate DIP escrow accounts naming Fannie Mae,
City National Bank and Colombo Bank as beneficiaries.  These
amounts represent net operating income from the Lenders'
respective properties.

As adequate protection for the use of cash collateral, Fannie Mae
and City National Bank will receive postpetition liens on the
Debtor's assets to the same extent and priority that they had
valid, perfected, unavoidable liens in the Debtor's assets
prepetition.

The final hearing on the cash collateral motion will be held on
Aug. 24, 2011, at 2:30 p.m.

City National Bank has objected to the Debtor's motion for
authority to use its cash collateral.

City National relates that the use should be conditioned on
granting adequate protection to the Bank, which must, at a
minimum, include:

     a. adherence by the Debtor to an operating budget acceptable
        to CNB;

     b. adequate protection payments;

     c. replacement liens in all assets of the Debtor which liens
        will be first and prior liens;

     d. immediate redress in the event of a default by the Debtor
        under its obligations upon which use of Cash Collateral is
        conditioned; and

     e. CNB receiving a super-priority administrative claim to the
        extent CNB suffers a failure of adequate protection.

City National Bank is represented by:

     Susan C. Scanlon, Esq.
     WEINSTOCK, FRIEDMAN & FRIEDMAN, P.A.
     Executive Centre, 4 Reservoir Circle
     Baltimore, Maryland 21208-7301
     Tel: (410) 559-9000
     E-mail: susan.scanlon@weinstocklegal.com

                      About Mt. Vernon Properties

Mt. Vernon Properties, LLC, based in Baltimore, Maryland, is the
owner of many parcels of real property located in Baltimore City
that the Debtor operates as multi-family rentl properties.  The
Company filed for Chapter 11 bankruptcy (Bankr. D. Md. Case No.
11-24801) on July 18, 2011.  Judge David E. Rice presides over the
case.  Aryeh E. Stein, Esq., at Meridian Law, LLC, in Baltimore,
serves as bankruptcy counsel.  In its petition, the Debtor
estimated assets and debts of $10 million to $50 million.  The
petition was signed by Ronald Persaud, managing member of Mt.
Vernon Properties II LLC, the Debtor's sole member.


NANCY SILVERMAN: Puts Georgetown Saloon Up For Sale
---------------------------------------------------
Susan Tuz at newstimes.com reports that the Georgetown Saloon
owned by Nancy Silverman is up for sale.  Ms. Silverman filed for
Chapter 11 bankruptcy in June and proposed a plan to reorganize
and to keep the business alive while paying creditors.  According
to the U.S. Trustee's Web site, by Section 363 of the Bankruptcy
Code, a buyer can purchase the business without buying the
financial problems that led to the bankruptcy filing, through
proper court motion.

For information on The Georgetown Saloon, contact:

         Steve Matsis
         Pyramid Restaurant Group
         Tel: (203) 348-8566.


NATIONAL AUTOMATION: Incurs $505,000 Net Loss in Second Quarter
---------------------------------------------------------------
National Automation Services, Inc., filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q
reporting a net loss of $505,378 on $68,804 of revenue for the
three months ended June 30, 2011, compared with a net loss of
$819,527 on $948,127 of revenue for the same period a year ago.

The Company also reported net income of $1.73 million on $289,350
of revenue for the six months ended June 30, 2011, compared with a
net loss of $1.48 million on $1.31 million of revenue for the same
period during the prior year.

The Company's balance sheet at June 30, 2011, showed $581,249 in
total assets, $2.82 million in total liabilities, and a
$2.23 million total stockholders' deficit.

The Company said its operating revenues are insufficient to fund
its operations.  Although the Company has experienced recurring
net losses, it had a net income for the six months ended June 30,
2011, which is attributable to the Company's write-off of
Trafalgar debt per the Company's settlement agreement with
Trafalgar Capital on March 25, 2011.

The Company reported a net loss of $2.88 million on $1.95 million
of revenue for the year ended Dec. 31, 2010, compared with a net
loss of $4.88 million on $3.74 million of revenue during the prior
year.

As reported by the TCR on April 20, 2011, Lynda R. Keeton CPA,
LLC, in Henderson, NV, expressed substantial doubt about the
Company's ability to continue as a going concern, following the
2010 financial results.  The independent auditors noted that the
Company has working capital deficiencies and continued net losses.

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

                        http://is.gd/N7RLbH

                     About National Automation

Henderson, Nev.-based National Automation Services, Inc.
(Pinksheets: NASV) -- http://www.nasautomation.com/-- is a
holding company formed to acquire and operate specialized
automation control companies located in the Southwestern United
States.  Currently, the Company owns 100% of the capital stock of
two operating subsidiaries: (1) Intuitive Solutions, Inc., a
Nevada corporation, based in Henderson, Nevada, and (2) Intecon,
Inc., an Arizona corporation, based in Tempe, Arizona.


NEW GENERATION: Incurs $1.9 Million Second Quarter Net Loss
-----------------------------------------------------------
New Generation Biofuels Holdings, Inc., filed with the U.S.
Securities and Exchange Commission its quarterly report on Form
10-Q reporting a net loss of $1.89 million on $0 of total revenue
for the three months ended June 30, 2011, compared with a net loss
of $2.98 million on $0 of total revenue for the same period during
the prior year.

The Company also reported a net loss of $4.24 million on $0 of
total revenue for the six months ended June 30, 2011, compared
with a net loss of $5.92 million on $6,477 of total revenue for
the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $5.99 million
in total assets, $7.23 million in total liabilities, and a
$1.24 million total stockholders' deficit.

Reznick Group, P.C., in Vienna, Va., expressed substantial doubt
about New Generation Biofuels Holdings' ability to continue as a
going concern, following the Company's 2010 results.  The
independent auditors noted that the Company has experienced
negative cash flows from operations since inception and is
dependent upon future financing in order to meet its planned
operating activities.

The Company said it is seeking to raise additional capital through
public or private placement offerings and targeting strategic
partners.  The ability of the Company to continue as a going
concern is dependent upon the success of capital offerings or
alternative financing arrangements and expansion of its
operations.  If the Company is unsuccessful in raising additional
capital from any of these sources, it will defer, reduce, or
eliminate certain planned expenditures.  The Company will continue
to consider other financing alternatives.  There can be no
assurance that the Company will be able to obtain any sources of
financing on acceptable terms, or at all.

If the Company cannot obtain sufficient additional financing in
the short-term, it may be forced to restructure or significantly
curtail its operations, file for bankruptcy or cease operations.

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

                        http://is.gd/BdXVbo

                        About New Generation

Columbia, Md.-based New Generation Biofuels Holdings, Inc., is a
clean energy company deploying novel technologies to produce
cleaner, renewable biofuels.  The Company has rights to a
portfolio of patented and patent pending technology to manufacture
alternative biofuels from plant oils, animal fats and related
oils, which it markets as a new class of biofuel for power
generation, commercial and industrial heating, and related uses.


NEW LEAF: Delays Filing of Quarterly Report on Form 10-Q
--------------------------------------------------------
New Leaf Brands, Inc., informed the U.S. Securities and Exchange
Commission that it will be late in filing its quarterly report on
Form 10-Q for the period ended June 30, 2011.  The Company
requires additional time to complete the review of its financial
statements in order to complete the 10-Q prior to filing.

                       About New Leaf Brands

Scottsdale, Ariz.-based New Leaf Brands, Inc. develops, markets
and distributes healthy and functional ready-to-drink teas under
the New Leaf(R) brand.

The Company reported a net loss of $9.13 million on $4.25 million
of net sales for the year ended Dec. 31, 2010, compared with a net
loss of $10.93 million on $3.45 million of net sales for the same
period during the prior year.

As reported by the TCR on June 2, 2011, Mayer Hoffman McCann P.C.,
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 from
operations, has a working capital deficiency, was not in
compliance with certain financial covenants related to debt
agreements, and has a significant amount of debt maturing in 2010.
Mayer Hoffman issued negative going concern qualifications
following the release of the 2009 and 2010 results.


NEWPAGE CORP: Said to Have Filed for Bankruptcy Tuesday
-------------------------------------------------------
The Cape Breton Post reports that Mayor Billy Joe MacLean of Port
Hawkesbury in Nova Scotia, Canada, said NewPage Corp. filed for
Chapter 11 bankruptcy protection Tuesday afternoon.

According to the Post, the mayor held an emergency council meeting
Tuesday to discuss a NewPage mill's impending shutdown.  The mayor
requested the session be held in-camera.

"It's private and confidential, the information we're going to
give," Mr. MacLean said, citing the sensitive nature of some phone
calls he's received over the past two days and the potential
financial impact on the town, according to the report.

The Post reports that members of the media were asked to leave the
upstairs boardroom of the Port Hawkesbury Civic Centre.  After the
meeting was adjourned, mayor and council offered no comment to
media on their discussions, the Post relates.

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.

                        Bankruptcy Warning

As reported by the Troubled Company Reporter on Aug. 22, NewPage
said in regulatory filings it 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 said it 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.

NewPage has 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.

                        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'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.

                           *     *     *

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."


NEXTWAVE WIRELESS: Posts $65.4 Million Net Loss in Q2 Ended July 2
------------------------------------------------------------------
NextWave Wireless Inc. filed its quarterly report on Form 10-Q,
reporting a net loss of $65.4 million for the three months ended
July 2, 2011, compared with a net loss of $72.9 million for the
three months ended July 3, 2010.

The Company reported a net loss of $126.4 million for the six
months ended July 2, 2011, compared with a net loss of
$75.8 milion million for the six months ended July 3, 2010.

The Company's Senior Secured Note, having an aggregate principal
amount of $128.2 million at July 2, 2011, matured on July 17,
2011.  On July 17, 2011, the holders of the Senior Notes provided
a limited waiver of the Company's obligation to pay these notes in
full on their maturity date.  Concurrently with the expiration of
the limited waiver on Aug. 1, 2011, the Company entered into a
Forbearance Agreement with all of the holders of its secured notes
pursuant to which the holders agreed to forbear from exercising
their remedies relating to payment and other potential defaults
through Sept. 30, 2011, subject to certain conditions including
the Company's commitment to consummate a refinancing transaction.

                       Possible Bankruptcy

"Our current cash reserves are not sufficient to meet our payment
obligations under our secured notes at their current maturity
dates.  We also anticipate that we will be unable to consummate
sales of our wireless spectrum assets yielding sufficient proceeds
to retire this indebtedness at the current scheduled maturity
dates.

"If we are unable to extend maturity beyond 2011, or identify and
successfully implement alternative financing to repay the Senior
Notes and Second Lien Notes, the holders of our secured notes
could proceed against the assets pledged to collateralize these
obligations.

"These conditions raise substantial doubt about our ability to
continue as a going concern.  Insufficient capital to repay our
debt at maturity would significantly restrict our ability to
operate and could cause us to seek relief through a filing in the
United States Bankruptcy Court."

                          Balance Sheet

The Company's balance sheet at July 2, 2011, showed
$478.2 million in total assets, $999.6 million in total
liabilities, and a stockholders' deficit of $521.4 million.

                       Going Concern Doubt

As reported in the TCR on March 23, 2011, Ernst & Young LLP, in
San Diego, Calif., expressed substantial doubt about NextWave
Wireless's ability to continue as a going concern, following the
Company's 2010 results.  The independent auditors noted that the
Company has incurred recurring operating losses and has a working
capital deficiency, primarily comprised of the current portion of
long term obligations of $784.6 million at Jan. 1, 2011, that is
associated with the maturity of its debt.  "The Company currently
does not have the ability to repay this debt at maturity."

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

                     About NextWave Wireless

San Diego, Calif.-based NextWave Wireless Inc. (OTC QB: WAVE)
-- http://www.nextwave.com/-- is a wireless technology company
that manages and maintains worldwide wireless spectrum licenses.


NORTEL NETWORKS: Court Requests for Postponement of Mediation
-------------------------------------------------------------
The Hon. Kevin Gross of the U.S. Bankruptcy Court for the District
of Delaware requests that Jacob A. Esher of Mediation Works
Incorporated, as mediator, consider the postponement of the
mediation of a dispute involving Robert Horne, James Young, and
the Ad Hoc Group of Beneficiaries of the Nortel Networks U.S.
Deferred Compensation Plan.

The Court recognizes that the resolution of the motions filed by
the Nortel Networks, Inc., et al., and the Official Committee of
Unsecured Creditors may have material impact upon the mediation.
In their motion, the U.S. Movants requested that the Court dismiss
the claims of Nortel Networks UK Limited, Nortel Networks Ireland
Limited and Nortel Networks S.A. and its French Liquidator (EMEA
Debtors).

The EMEA Debtors have requested additional time to submit their
responses to the motions and the U.S. Movants are amenable to a
brief adjournment provided it does not delay the hearing on the
motions.

The Court also requests that the mediator consider adjourning the
submission of briefs, which is set for Sept. 16, until the Court
has had the opportunity to hear and decide the motions which the
Court has now reschedules to be heard on Oct. 13 and 14, 2011.
The Court previously scheduled a hearing for the week of Sept. 19,
2011.

                     About Nortel Networks

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

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

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

Nortel Networks Inc. and 14 affiliates filed separate Chapter 11
petitions (Bankr. D. Del. Case No. 09-10138) on Jan. 14, 2009.
Judge Kevin Gross presides over the case.  James L. Bromley, Esq.,
at Cleary Gottlieb Steen & Hamilton, LLP, in New York, serves as
general bankruptcy counsel; Derek C. Abbott, Esq., at Morris
Nichols Arsht & Tunnell LLP, in Wilmington, serves as Delaware
counsel.  The Chapter 11 Debtors' other professionals are Lazard
Freres & Co. LLC as financial advisors; and Epiq Bankruptcy
Solutions LLC as claims and notice agent.  Fred S. Hodara, Esq.,
at Akin Gump Strauss Hauer & Feld LLP, in New York, and
Christopher M. Samis, Esq., at Richards, Layton & Finger, P.A., in
Wilmington, Delaware, represent the Official Committee of
Unsecured Creditors.

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

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

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


NPX CORP: Owner of 47 Condo Units in Wash. in Chapter 11
--------------------------------------------------------
NPX Corp., a single-asset real estate company, filed for Chapter
11 bankruptcy protection (Bankr. D. Nev. Case No. 11-br-23065) on
Aug. 17 in Las Vegas, where it's based.  The Company valued its
real estate holdings, comprising 47 condominium units in Renton,
Washington, at $12 million.  NPX's property is subject to a
pending foreclosure suit brought by First Citizens Bank & Trust,
it said in court papers.  A creditors meeting is scheduled for
Sept. 22.


NUVILEX INC: Incurs $1.39-Mil. Net Loss in Fiscal 2011
------------------------------------------------------
Nuvilex, Inc., filed with the U.S. Securities and Exchange
Commission its annual report on Form 10-K, reporting a net loss of
$1.39 million on $125,997 of total revenue for the year ended
April 30, 2011, compared with a net loss of $5.99 million on
$262,932 of total revenue for the same period during the prior
year.

The Company's balance sheet at June 30, 2011, showed $1.24 million
in total assets, $3.39 million in total liabilities, $580,000 in
preferred stock and a $2.73 million total stockholders' deficit.

M&K CPAS, PLLC, in Houston, Texas, expressed substantial doubt
about the Company's ability to continue as a going concern.  The
independent auditors noted that the Company has suffered recurring
losses from operations.

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

                       http://is.gd/YVyhML

                        About Nuvilex Inc.

Scottsdale, Ariz.-based Nuvilex Inc. (OTC BB: NVLX) --
http://www.nuvilex.com/-- operates independently and through
wholly-owned subsidiaries and is dedicated to bringing to market
scientifically derived products designed to improve the health and
well-being of those who use them.  The Company currently
manufactures, directly or indirectly through independent
contractors Cinnergen(TM), Cinnechol(TM), Infinitink(R) (and
related private label ink products), and Talysn(TM) Scar Cream for
sale worldwide.


ONE RENAISSANCE: Wells Fargo, et al. Want Plan Confirmation Denied
------------------------------------------------------------------
Wells Fargo Bank, N.A., asks the U.S. Bankruptcy Court for the
Eastern District of North Carolina to deny confirmation of One
Renaissance, LLC's Plan of Reorganization, dated June 7, 2011.

Wells Fargo, as successor by merger to Wells Fargo Bank Minnesota,
N.A., as trustee for the registered holders of Credit Suisse First
Boston Mortgage Securities Corp., Commercial Mortgage Pass-Through
Certificates, Series 2001-CK1, asserts a claim amounting to
$18,421,756, of which $17,300,000 was secured based upon the value
of the property, and $1,121,756 was unsecured.

Wells Fargo contends that the Plan cannot be confirmed because it
does not meet all of the requirements under section 1129(a) of the
Bankruptcy Code, noting that:

   -- While the Plan proposed by the Debtor provides that
   administrative claims will be paid in full on the Effective
   Date, it also states that if funds are not available, then the
   holder of such claims will receive monthly payments until such
   claims are paid in full; and

   -- The Debtor did not file any financial projections with its
   Plan or Disclosure Statement making it impossible to determine
   whether the Debtor will be able to make the payments under the
   Plan while at the same time paying the expenses and costs
   associated with owning, operating, and maintaining the
   property, including any payments for required tenant or capital
   improvements to the property.

In a separate motion, the Bankruptcy Administrator, also asked the
Court to deny confirmation of the Debtor's Plan and allow the
Debtor to file an amended plan.

According to the Bankruptcy Administrator, the plan is feasible,
but might not be confirmable due to the proposed treatment to
Wells Fargo.  The Bankruptcy Administrator related that in the
event that the Debtor had to provide treatment that is most
favorable to the creditor, the Debtor could propose a feasible
plan, but would have to cut costs.  Specifically, the management
agreement between the Debtor and its sister entity Dewitt
Servicing would have to be renegotiated or the Debtor would need
to find a less expensive management company.

As reported in the Troubled Company Reporter on June 27, 2011, the
Debtor's Plan provides that the Debtor will treat the secured
claim of Wells Fargo, N.A., totaling, as of the Petition Date,
$17,109,510, as an impaired claim.  Wells Fargo will retain its
lien over the Debtor's properties until its claim is paid in full.
The Debtor will initially make monthly interest-only payments on
the claim at the rate of 4.5% per annum for a period of 12 months.
Thereafter, the Debtor will make monthly payments of principal and
interest based on a 25-year amortization schedule with interest
accruing at the fixed rate of 4.5% per annum, with a final payment
of all principal and unpaid interest due 84 months from the plan's
effective date.

Class III includes any credit holding an allowed, secured lien
claim pursuant to Chapter 44A of the North Carolina General
Statutes.  The class is impaired.  Holders of claims in Class III
will retain their liens pursuant to Section 1129(b)(2)(A)(i)(1) of
the Bankruptcy Code until their claims are paid in full and will
be treated as fully secured.  The Debtor will pay allowed claims
in Class III on the later of (a) 60 days from the Effective Date
or (b) 10 days from the date the Court resolves any objections to
Class III claims.

The total of estimated unsecured claims is approximately $83,162.
The Debtor will pay all allowed unsecured claims in full.

Renaissance Holdings, LLC, which holds a 99.9967% membership
interest in the Debtor, and Renaissance Management, Inc., which
holds a 0.0033% membership in the Debtor, will retain their
ownership interests upon confirmation of the Plan.

A full-text copy of the Disclosure Statement, dated June 7, 2011,
is available for free at http://ResearchArchives.com/t/s?764d

A full-text copy of the Plan, dated June 7, 2011, is available for
free at http://bankrupt.com/misc/ONERENAISSANCE_plan.pdf

Wells Fargo is represented by:

         MCGUIREWOODS LLP
         Robert A. Cox, Jr., Esq.
         201 North Tryon Street, Suite 3000
         P.O. Box 31247
         Charlotte, NC 28231
         E-mail: rcox@mcguirewoods.com

                     About One Renaissance, LLC

Raleigh, North Carolina-based One Renaissance, LLC, a limited
liability company, that owns a commercial building located at 3301
Benson Dr., Raleigh, NC.  The Company filed for Chapter 11
bankruptcy protection (Bankr. E.D. N.C. Case No. 11-01793) on
March 9, 2011.  Jason L. Hendren, Esq., at Hendren & Malone, PLLC,
serves as the Debtor's bankruptcy counsel.  The Debtor disclosed
$27,730,261 in assets and $17,194,510 in liabilities as of the
Chapter 11 filing.

No creditors committee has been appointed in the Debtor's case.


OTERO COUNTY HOSPITAL: Sec. 341 Creditors' Meeting on Sept. 22
--------------------------------------------------------------
The United States Trustee in Albuquerque, New Mexico, will convene
a meeting of creditors in the Chapter 11 case of The Otero County
Hospital Association, Inc., pursuant to Sec. 341(a) of the
Bankruptcy Code on Sept. 22, 2011 at 9:30 a.m. (Mountain Time) at
Dennis Chavez Federal Building and United States Courthouse,
Creditors Meeting Room, 12th Floor, Room 12411, 500 Gold Ave SW,
in Albuquerque.

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 Otero County Hospital

Otero County Hospital Association Inc. filed for Chapter 11
protection (Bankr. D. N.M. Case No. 11-13686) in Albuquerque, New
Mexico, on Aug. 16, 2011, listing as assets of as much as $500
million and debt of as much as $100 million.  The Alamogordo, New
Mexico-based nonprofit developed and operates the Gerald Champion
Regional Medical Center.  GCRMC serves a total population of
approximately 70,000 people.

Otero County Hospital Association also does business as Mountain
View Catering.

Judge Robert H. Jacobvitz presides over the case. Craig H. Averch,
Esq., at White & Case, LLP, and John D. Wheeler, Esq., at John D.
Wheeler & Associates, PC, serve as bankruptcy counsel.  Kurtzman
Carson Consultants, LLC, serves as claims agent.

The petition was signed by William Morgan Hay, chief financial
officer.


OTERO COUNTY HOSPITAL: Seeks to Pay Alamogordo Surgery Ventures
---------------------------------------------------------------
The Otero County Hospital Association, Inc. d/b/a Gerald Champion
Regional Medical Center, seeks authority to make postpetition
payments on account of prepetition claims of Alamogordo Surgery
Ventures, LLC.

In 2006, the Debtor and certain physicians established Alamogordo
Surgery Ventures pursuant to the terms of an operating agreement
dated Nov. 17, 2006.  ASV is a New Mexico limited liability
company established for the purpose of operating an outpatient
surgery center located on the Hospital property.  ASV provides
outpatient surgical services to members of the greater Otero
County community and invoices the patients or insurance provider
for the costs of the procedures.  The Debtor the pays ASV for the
surgeries at a fixed per-procedure cost.  The Surgery Center
benefits the community by (1) promoting health and wellness; (2)
making outpatient surgery services more accessible within the
community; (3) providing a facility for the efficient provision of
outpatient services; (4) improving the quality of care available
to the residents of the community; and (5) expanding healthcare
resources within the community.  ASV benefits from a policy of the
Centers for Medicare & Medicaid Services that, under certain
circumstances, permits a joint venture controlled by a sole
community healthcare provider to receive heightened Medicare and
Medicaid reimbursement rates than would a non-affiliated
equivalent facility.

Based on the months of May, June, and July of 2011, the Debtor's
average monthly payment to ASV for the services it performs is
approximately $650,000. ASV's billing cycle to the Hospital is
monthly based on full calendar months.  Accordingly, on the
Petition Date, the Debtor had 15 accrued but unpaid days worth of
surgeries performed at ASV for which it is liable pursuant to the
terms of its agreement with ASV -- Prepetition ASV Obligations.
The Debtor estimates the total value of the Prepetition
Obligations to be approximately $325,000.

In addition to using ASV's surgical services for the benefit of
the community, the Debtor also holds a 40.5% equity stake in ASV,
a 51% voting interest, and is the landlord under ASV's lease for
the Surgery Center dated Nov. 17, 2006. As an equity member, the
Debtor is periodically entitled to distributions from ASV --
Equity Distributions.  The distributions are made monthly and
typically amount to approximately $80,000 per month.  As ASV's
landlord, the Debtor is entitled to monthly lease payments for
base rent and additional rent for pro rata utilities and other
miscellaneous items. The monthly base rent paid by ASV to the
Debtor for the use of the Surgery Center is approximately $38,000
per month.

The 59.5% of ASV's equity interests not held by the Debtor are
held predominantly by Physician Members that also perform surgical
procedures at the Surgery Center.  The Debtor believes that the
Physician Members may elect to perform fewer procedures at the
Surgery Center if the Debtor fails to perform all of its
obligations to ASV in the ordinary course, and possibly consider
options to create a new surgery group elsewhere.  The Debtor
further believes that its substantial goodwill with the Physician
members would be irreparably harmed if it failed to perform all of
its obligations to ASV in the ordinary course.

Meanwhile, the Debtor has won Court authority to pay (i) medical
providers and honor agreements, (ii) patient overpayments to
patients and turn over certain third-party payor funds, (iii)
trust fund taxes in the ordinary course of business, (iv)
insurance premium financing programs and maintain insurance
programs, (v) account of prepetition claims of Medicare and
Medicaid and permit deductions for overpayments in the ordinary
course of business, and (vi) prepetition wages, compensation and
employee benefits.

                    About Otero County Hospital

Otero County Hospital Association Inc. filed for Chapter 11
protection (Bankr. D. N.M. Case No. 11-13686) in Albuquerque, New
Mexico, on Aug. 16, 2011, listing as assets of as much as $500
million and debt of as much as $100 million.  The Alamogordo, New
Mexico-based nonprofit developed and operates the Gerald Champion
Regional Medical Center.  GCRMC serves a total population of
approximately 70,000 people.

Otero County Hospital Association also does business as Mountain
View Catering.

Judge Robert H. Jacobvitz presides over the case. Craig H. Averch,
Esq., at White & Case, LLP, and John D. Wheeler, Esq., at John D.
Wheeler & Associates, PC, serve as bankruptcy counsel.  Kurtzman
Carson Consultants, LLC, serves as claims agent.

The petition was signed by William Morgan Hay, chief financial
officer.


OTERO COUNTY HOSPITAL: To Assume Hospital Facility Lease
--------------------------------------------------------
Otero County Hospital Association Inc. seeks entry of an order (i)
authorizing the assumption of its lease agreement with the city of
Alamogordo, New Mexico, pursuant to section 365(a) of the
Bankruptcy Code; and (ii) establishing cure amount.

The agreement provides for the lease of the land and hospital
facilities from the City to Gerald Champion Regional Medical
Center.

Absent the Lease Agreement, Otero County would no longer have a
Level III trauma center or an acute-care facility to provide
health care and services to the approximately 70,000 people in the
community.  The Debtor said residents would be forced to travel
over 75 miles to the next closest comparable facility.

"GCRMC does not consider this an option. Thus, not only is it in
the best interest of the estate to assume the Lease Agreement, but
it is in the best interest of the community and residents of Otero
County," the Debtor said in court papers.

For its current capital/debt structure prior to the Petition Date,
GCRMC required capital to, among other things, (i) finance and
reimburse the costs of constructing and implementing improvements
to GCRMC and; (ii) refinance existing debt obligations relating
primarily to the construction of the Hospital in 1999.

To provide GCRMC the capital necessary to fund construction in
2007 and to refinance preexisting debt, the city of Alamogordo
issued (i) $30,465,000 in aggregate principal amount of its
Hospital Improvement and Refunding Revenue Bonds (Gerald Champion
Regional Medical Center Project) Series 2007A; and (ii) $8,020,000
in aggregate principal amount of its Taxable Hospital Improvement
and Refunding Revenue Bonds (Gerald Champion Regional Medical
Center Project) Series 2007B pursuant to New Mexico law.

The Bonds are governed by the terms of a trust indenture entered
into by the City and The Bank of New York Mellon Trust Company,
N.A., as trustee on Nov. 15, 2007.

To establish an income stream to support payments under the Bonds,
the City and the Debtor entered into the Lease Agreement dated
Nov. 1, 2007, whereby the City leased the Hospital and certain
related assets to GCRMC in exchange for lease payments.  Pursuant
to the terms of the Lease Agreement, the Debtor is obligated to
keep in place at all times a letter of credit for the benefit of
bondholders in an amount not less than the sum of all remaining
obligations under the Bonds.

To secure the payments under the Bonds, and in accordance with the
terms of the Lease Agreement, the Debtor and Bank of America,
N.A., entered into a Letter of Credit and Reimbursement Agreement,
whereby the Bank issued an irrevocable letter of credit in the
amount of $38,927,842 in favor of BoNY as Trustee.  The Letter of
Credit can be drawn by the Trustee under certain circumstances.
Under the Reimbursement Agreement, the Debtor must reimburse the
Bank for any draws on the Letter of Credit.  The Debtor's
obligations under the Reimbursement Agreement are secured by a
Mortgage and Assignment of Rents and Leases, Security Agreement
and Financing Statement, recorded on Nov. 15, 2007, granting a
mortgage on the Hospital and associated real property and a first
priority security interest in certain personal property used in
connection with the Hospital.

The Letter of Credit is drawn periodically to make all necessary
debt service payments on the Bonds.  As the Letter of Credit is
drawn, the payments pursuant to the Lease Agreement are directed
to the Bank to cover the draws.

The Letter of Credit expires on Nov. 15, 2012.  The liabilities
owed under the bonds would be, in effect, accelerated if the
Letter of Credit cannot be extended or replaced.  The Debtor
intends to secure either (i) an extension to the Letter of Credit,
or (ii) a replacement letter of credit by Oct. 1, 2012.  If it
fails to do so, the Trustee is obligated to tender the Bonds for
Redemption on Nov. 10, 2012.

                    About Otero County Hospital

Otero County Hospital Association Inc. filed for Chapter 11
protection (Bankr. D. N.M. Case No. 11-13686) in Albuquerque, New
Mexico, on Aug. 16, 2011, listing as assets of as much as $500
million and debt of as much as $100 million.  The Alamogordo, New
Mexico-based nonprofit developed and operates the Gerald Champion
Regional Medical Center.  GCRMC serves a total population of
approximately 70,000 people.

Otero County Hospital Association also does business as Mountain
View Catering.

Judge Robert H. Jacobvitz presides over the case. Craig H. Averch,
Esq., at White & Case, LLP, and John D. Wheeler, Esq., at John D.
Wheeler & Associates, PC, serve as bankruptcy counsel.  Kurtzman
Carson Consultants, LLC, serves as claims agent.

The petition was signed by William Morgan Hay, chief financial
officer.


OTTILIO PROPERTIES: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: Ottilio Properties, LLC
        555 Preakness Avenue
        Totowa, NJ 07512

Bankruptcy Case No.: 11-34641

Chapter 11 Petition Date: August 18, 2011

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

Judge: Morris Stern

Debtor's Counsel: Glenn R. Reiser, Esq.
                  LOFARO AND REISER, LLP
                  55 Hudson Street
                  Hackensack, NJ 07601
                  Tel: (201) 498-0400
                  Fax: (201) 498-0016
                  E-mail: greiser@new-jerseylawyers.com

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

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

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

The petition was signed by Anthony V. Ottilio, managing member.


PACE UNIVERSITY: Moody's Affirms Ba1 Debt Rating; Outlook Stable
----------------------------------------------------------------
Moody's Investors Service has affirmed its Ba1 rating on Pace
University's Series 2005A and 2005B Revenue Bonds issued by the
Dormitory Authority of the State of New York. The rating outlook
has been revised to stable from negative.

SUMMARY RATING RATIONALE

The Ba1 rating reflects Pace University's large scale with $279
million Moody's adjusted operating revenue base in FY 2010, uneven
enrollment history, thin liquidity and reliance on a drawdown note
program for seasonal cash flow, and limited financial resource
base. The move to a stable outlook reflects expected continuation
of momentum in management's effort to improve cash flow
performance, student revenue growth and ongoing increases in
liquid resources.

CHALLENGES

*Limited liquidity relative to expense base with FY 2010 monthly
liquidity of $16 million covering a very thin 22 days of cash
expenses. Pace continues to rely on a Bank of America drawdown
note facility on which it had $34 million outstanding as of June
30, 2010 and June 30, 2011. Unrestricted liquidity without the
operating funds from the note would be negative, although reliance
on the note has been gradually reducing over time, a trend with
decent prospects to continue and during FY 2011 Pace had nothing
drawn on the line for 12 weeks.

*Very thin financial resource cushion relative to debt and
operations. Even when adjusted for a large post-retirement health
benefit liability ($74.7 million as of June 30, 2010) expendable
financial resources were negative $25 million at the end of FY
2010. Total financial resources of $48 million cushion pro forma
debt of $147 million by 0.33 times, well below Moody's median of
0.89 times for large Baa-rated private universities.

*Limited pricing power especially for undergraduate students (70%
of full-time equivalent enrollment) relative to peers with net
tuition per student declining 4.6% in FY 2010 to $20,096 as
prospective students are likely to remain sensitive to net price
increases. Pace faces a significant amount of competition from
other private as well as public universities in New York and the
northeast.

*Sizeable and growing operating lease commitments with indirect
debt of $148 million as of FYE 2010. Of operating lease rental
expense of $22 million, $13.3 million was related to student
housing facilities which generate auxiliary revenue.

*Limited revenue diversity with student charges comprising 88.7%
of Moody's adjusted operating revenues in FY 2010. Gifts (2% of
operating revenue) have been declining since 2006 following the
University's completion of a comprehensive campaign. Further
diversification of operating revenue would be a credit positive.

*Almost entirely variable rate debt structure dominated by the
Series 2005 auction rate bonds. While management reports
successful auctions and a weighted average rate of 4.5% during FY
2011 (blend of taxable and tax-exempt debt) Pace remains exposed
to interest spikes or failed auctions, with a maximum interest
rate of 15% and 20% allowable on the bonds Series 2005A and Series
2005B bonds, respectively. A fixed payer swap with a notional
amount $72 million does help manage a portion of the interest rate
risk.

STRENGTHS

*As a large comprehensive urban university ($279 million of
Moody's adjusted operating revenue in FY 2010) Pace offers a
diverse array of undergraduate, graduate, and professional
programs, including schools of nursing, business, and law. In fall
2010, the University enrolled 10,338 full-time equivalent (FTE)
students, up 5% from the recent low in fall 2007 when various
enrollment management missteps drove a decline in enrollment. In
order to maintain a stable enrollment base with increasing student
quality, Pace is focused on several recruitment and retention
initiatives, including attracting community college transfers,
increased recruitment of international students, targeting
recruiting in US markets with favorable demographics, and growth
in high demand programs such as those in the performing arts.

*Management commitment to improved operating performance and
building liquidity. Pace's operating cash flow margin of 7.2% in
FY 2010 supported debt service coverage 1.7 times as the
"stability plan" continued careful expense controls.

*Improved oversight of enrollment management with careful tracking
of student demand, net revenue targets and financial aid
packaging.

DETAILED CREDIT DISCUSSION

LEGAL SECURITY: Loan payments are a general obligation of the
University secured by a security interest in Pledged Revenues
(including tuition and fees) equal to maximum annual debt service.
The University's obligations to the Authority under the Loan
Agreement are additionally secured by a mortgage on certain
property, which is not initially pledged to bondholders unless an
event of default occurs and the bond insurer requests that the
Authority assign the mortgage to the Trustee.

The Series 2005 debt service reserve fund requirement was
initially met with a surety bond issued by MBIA. Pace was notified
by the Trustee in July 2008 that it was required to deposit
collateral with the Trustee in the amount of $2.769 million,
replacing the Surety Bond over a five year period as a result of
the downgrade of MBIA.

The Series 2005 loan agreements include two financial covenants.
The University must maintain Unrestricted Investments divided by
Outstanding Indebtedness of at least 30%. Management projects
passing with a 41.06% ratio based on unaudited FYE 2011 data. The
University must also maintain debt service at below 6% of annual
Unrestricted Gross Revenues. Management projects passing with a
4.17% ratio based on unaudited FYE 2011 data.

DEBT-RELATED DERIVATIVES: Pace has entered into a floating to
fixed interest rate swap agreement to hedge the interest rate on
its Series 2005A bonds (current outstanding notional amount of
swap is $71.9 million as of August, 11 2011). As of that same
date, the market valuation of the swap was negative $10.0 million
to Pace. In December 2009, Pace restructured the swap with the
counterparty Merrill Lynch Capital Services (with an unconditional
guarantee provided by Merrill Lynch & Co.). Pursuant to a
reinsurance agreement between MBIA Insurance Corp and National
Public Finance Guarantee Corp, National reinsures the swap policy.
Prior to the restructuring Pace could have been required to post
collateral equal to the negative market valuation of the swap.
Post restructuring, Pace is not required to post collateral with
its Ba1 rating level unless the market valuation of the swap
exceeds negative $10 million (new threshold). If the value of the
swap exceeds $10 million, Pace is required to post the amount in
excess of $10 million, subject to a $100,000 minimum posting
amount.

RECENT DEVELOPMENTS

Based on unaudited management-reported results for FY 2011, the
University had healthy revenue growth, up 11% for the year with
net tuition revenue up over 13%. The sharp increase was aided by
increases in both new and returning students with a higher portion
of students with less tuition discounting. The strong revenue
allowed Pace to offer an early retirement incentive package that
should yield long term financial benefits. Based on preliminary
data, new undergraduate student applications were up 9% for the
university, admitted students up 4%, which students who had made
deposits as of August 16, 2011 were down 5% from a similar point
in the 2010 cycle. Management reports an increase in median SAT
scores of accepted students for both the Pleasantville and New
York City campuses.

While the University had the same amount outstanding on its
operating notes at the end of FY 2010 and 2011 ($34 million), it
did reduce long-term debt by just over $9 million including paying
down the remaining principal amounts outstanding on the Series
1997 and 2000 fixed-rate bonds.

Pace utilizes the services of the Commonfund to manage its primary
long term pool. Based on unaudited data, investments grew 20% in
FY 2011 including the impact of endowment spending. As of July 31
2011, the primary pool was comprised of domestic equity (43%),
fixed income (20%), international equity (18%), marketable
alternatives (11%), and private capital/private equity (8%).
Outlook

Moody's stable outlook reflects expectation of successful
enrollment management efforts yielding increasing net tuition
revenue, careful management of expenses and gradual increases in
liquid resources and reduced reliance on the operating notes.

WHAT COULD MAKE THE RATING GO UP

Significant growth of unrestricted liquidity coupled with further
strengthening of operating performance and student market
position.

WHAT COULD MAKE THE RATING GO DOWN

Deterioration of unrestricted liquidity; sustained deterioration
in operating performance including declining net tuition revenue;
additional debt absent growth of revenue available to pay debt
service

KEY INDICATORS (Fall 2010 enrollment data and FY 2010 audited
financial data):

Total Full-Time Equivalent (FTE) Students: 10,338 FTE

Freshmen Selectivity: 77.4%

Freshmen Matriculation: 21.9%

Total Financial Resources: -$26 million (includes impact of $75
million OPEB liability)

Cash and Investments (excluding debt service reserve funds):
$127.9 million

Direct Debt: $156.5 million (pro forma direct debt of $147.5
million)

Comprehensive Debt: $304.9 million

Expendable Financial Resources-to-Debt: -0.6 times

Adjusted Expendable Financial Resources-to-Debt (excluding $75
million post-retirement health benefit liability): -0.2 times

Monthly Liquidity (unrestricted cash and investments as of June
30, 2010 which could be liquidated in one month): $15.9 million

Monthly Days Cash (unrestricted funds available within 1 month
divided by operating expenses excluding depreciation, divided by
365 days): 22 days

Three-Year Average Operating Margin: 0.1%

Three-Year Average Debt Service Coverage: 1.7 times

Reliance on Student Charges: 89%

RATED DEBT

2005A and 2005B bonds: Ba1 underlying rating, insured by National
Public Finance Guarantee Corporation (National's current financial
strength rating is Baa1 with a developing outlook)

CONTACTS:

Pace University: Toby Winer, Senior Vice President for Finance and
Treasurer, 914-923-2883

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

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


PAYMENT DATA: Incurs $238,000 Net Loss in Second Quarter
--------------------------------------------------------
Payment Data Systems, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q reporting a
net loss of $238,481 on $768,359 of revenue for the three months
ended June 30, 2011, compared with a net loss of $55,174 on
$604,184 of revenue for the same period during the prior year.

The Company also reported a net loss of $382,498 on $1.55 million
of revenue for the six months ended June 30, 2011, compared with a
net loss of $195,228 on $1.20 million of revenue for the same
period during the prior year.

The Company's balance sheet at June 30, 2011, showed $1.27 million
in total assets, $1.58 million in total liabilities, all current,
and a $307,423 total stockholders' deficit.

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

                        http://is.gd/X91Nv3

                     About Payment Data Systems

San Antonio, Tex.-based Payment Data Systems, Inc. provides
integrated electronic payment processing services to merchants and
businesses, including credit and debit card-based processing
services and transaction processing via the Automated
Clearinghouse Network.  The Company also operates an online
payment processing service for consumers under the domain name
http://www.billx.com/through which consumers can pay anyone.

The Company reported a net loss of $464,168 on $2.62 million of
revenue for the year ended Dec. 31, 2010, compared with a net loss
of $803,526 on $3.22 million of revenue during the prior year.

As reported by the TCR on April 25, 2011, Akin, Doherty, Klein &
Feuge, P.C., San Antonio, Texas, expressed substantial doubt about
the Company's ability to continue as a going concern, following
the 2010 financial results.  The independent auditors noted that
the Company has incurred substantial losses since inception, which
has led to a deficit in working capital.


PENINSULA HOSPITAL: Meets With Investors to Keep Hospital Open
--------------------------------------------------------------
Crain's New York Business reported yesterday that the Board of
Trustees at Peninsula Hospital Center met with potential investors
in an attempt to keep the Queens hospital open.  The Peninsula
Hospital also conveyed plans to file for Chapter 11 bankruptcy
protection Tuesday, Aug. 23.

According to the report, the trustees are trying to raise millions
of dollars from one of two different physician-led groups.  Both
groups visited the hospital on Friday, but a formal proposal was
due to the state Department of Health that day.  By Friday
morning, a proposal wasn't ready, and it wasn't clear whether DOH
would grant an extension.

Mr. Mure did not rule out that the state could order Peninsula to
start implementing a closure plan on Aug. 19.  The hospital does
have enough cash on hand to meet this week's payroll.  He
identified one group as a New Jersey physician backed by investors
with past experience in acquiring and turning around distressed
hospitals. The other group includes Peninsula staff physicians.

The report says the trustees cannot act independently of MediSys
Health Network until after the close of business today, when
MediSys officially terminates its role as corporate sponsor of
Peninsula.

Wayne S. Dodakian, Vinod Sinha, and Shannon Gerardi filed an
involuntary Chapter 11 bankruptcy protection against Peninsula
Hospital Center in the U.S. Bankruptcy Court for the Eastern
District of New York (Case No. 11-47056) on Aug. 16, 2011.  Judge
Elizabeth S. Stong presides over the case.  Marilyn Cowhey Macron,
Esq., Macron & Cowhey, represents the petitioners.


PENINSULA HOSPITAL: Summoned to Answer Involuntary Bankruptcy
-------------------------------------------------------------
Peninsula Hospital Center has been summoned to appear before the
Bankruptcy Court to address an involuntary Chapter 11 petition
filed against it.

Peninsula Hospital Center -- http://www.peninsulahospital.org/--
operated a 200-bed hospital in Far Rockaway, Queens, in New York.
In July 2011, Peninsula Hospital announced plans to close.

Three creditors, owed roughly $127,000 in the aggregate, filed an
involuntary Chapter 11 petition (Bankr. E.D.N.Y. Case No. 11-
47056) against Peninsula Hospital Center on Aug. 16, 2011.  Judge
Elizabeth S. Stong presides over the case.  The petitioning
creditors are Wayne S. Dodakian, Vinod Sinha of Total MedBiz, and
Shannon Gerardi of Advanced Seamless Gutters.

Meanwhile, Marilyn Cowhey Macron, who represents the petitioning
creditors, advised the Bankruptcy Court of its current address,
noting that the address indicated in the petition was the old
location.  The firm may be reached at:

          Marilyn Cowhey Macron, Esq.
          MACRON & COWHEY, PC
          160 Broadway, 4th Floor
          New York, NY 10038
          Tel: 212-346-9060
          E-mail: marilyn@macroncowhey.com


PERKINS & MARIE: Disclosure Statement Hearing Moved to Sept. 8
--------------------------------------------------------------
Lance Duroni at Bankruptcy Law360 reports that Perkins & Marie
Callender's Inc. extended its deadline for confirming its
reorganization plan by two weeks on Monday, telling a Delaware
bankruptcy judge it was making headway in negotiations with
unsecured creditors.

According to Law360, the court had been scheduled to consider the
disclosure statement attached to Perkins' Chapter 11 plan, but
that hearing was pushed back to Sept. 8 to allow for discussions
among the debtor, the official committee of unsecured creditors
and bondholders backing the plan.

The Company expects to emerge from its financial restructuring in
a significantly strengthened financial position.  Pursuant to the
proposed Plan, the Company's secured noteholders will receive new
secured term loans.  The proposed Plan also contemplates that the
Company's unsecured noteholders will receive equity in the
reorganized Company, and the Company's general unsecured creditors
will be entitled to elect to receive either cash or equity in the
reorganized Company.  In addition, the Plan provides that the
Company will obtain exit financing in an amount of up to
$35 million to finance its operations after the Company exits
Chapter 11, which will replace the Company's current $21 million
Debtor-in-Possession credit facility.  During its restructuring,
the Company will continue the process of reviewing its leases and
business contracts and identifying underperforming restaurant
locations through store level analyses of historical performance,
local market conditions and cost structure.

                 About Perkins & Marie Callender's

Based in Memphis, Tennessee, Perkins & Marie Callender's Inc., fka
The Restaurant Company, is the owner or franchiser of nearly 600
family-dining restaurants, the Perkins Restaurants and Marie
Callender's.  Perkins & Marie and several affiliates filed for
Chapter 11 bankruptcy (Bankr. D. Del. Lead Case No. 11-11795) on
June 13, 2011.  Perkins & Marie disclosed $290 million in assets
and $441 million in debt as of the Chapter 11 filing.

Judge Kevin Gross presides over the case.  Robert S. Brady, Esq.,
and Robert F. Poppiti, Jr., Esq., at Young, Conaway, Stargatt &
Taylor, LLP; and Mitchel H. Perkiel, Esq., Hollace T. Cohen, Esq.,
and Brett D. Goodman, Esq., at Troutman Sanders, LLP, serve as
bankruptcy counsel.  The Debtors' financial advisors are Whitby,
Santarlasci & Company.  Their claims agent is Omni Management
Group, LLC.  Deloitte Tax LLPserves  as tax services provider.

DIP lender Wells Fargo is represented by lawyers at Paul,
Hastings, Janofsky & Walker LLP.

Roberta A. Deangelis, U.S. Trustee for Region 3, appointed seven
unsecured creditors to serve on the Official Committee of
Unsecured Creditors in the Debtors' cases.  Ropes & Gray LLP
represents the Committee.


PETTERS GROUP: Polaroid Global Settlement Upheld on Appeal
----------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the global settlement for the companies that made up
the Ponzi scheme orchestrated by Thomas Petters was upheld on
appeal by the Bankruptcy Appellate Panel for the 8th Circuit in
St. Louis.  The settlement was challenged by only on creditor,
Interlachen Harriet Investments Ltd., the holder of a $60 million
claim.

According to the report, Interlachen had the misfortune of being
one of the last investors before Petters' fraud was unearthed in
October 2008.  The Petters Ponzi scheme was the country's largest
until the Bernard Madoff scam surfaced about two months later.
The settlement included the Petters companies along with the
trustee for Polaroid Corp., a $426 million acquisition that
Petters completed in 2005 using stolen money.  The settlement also
wrapped up claims by and against Asset Based Resource Group LLC,
which invested a total of $2.7 billion in the Petters scam and
ended up asserting a $312 million claim after deducting amounts it
took out before the fraud became known.

The report relates that in settlement, Polaroid paid Asset Based
Resource $11.5 million to release a $291 million secured claim.
Polaroid will pay the Petters companies $3 million to settle a
$3.9 million preference claim against ABRG.  Asset Based
Resource's claims against the Petters companies was reduced from
$312 million to $141.3 million, unsecured.  ABRG exchanged
releases with Polaroid and the Petters companies.

                     About Petters Group

Based in Minnetonka, Minn., Petters Group Worldwide LLC is a
collection of some 20 companies, most of which make and market
consumer products.  It also works with existing brands through
licensing agreements to further extend those brands into new
product lines and markets.  Holdings include Fingerhut (consumer
products via its catalog and Web site), SoniqCast (maker of
portable, WiFi MP3 devices), leading instant film and camera
company Polaroid (purchased for $426 million in 2005), Sun Country
Airlines (acquired in 2006), and Enable Holdings (online
marketplace and auction for consumers and manufacturers' overstock
inventory).  Founder and chairman Tom Petters formed the company
in 1988.

Petters Company, Inc., is the financing and capital-raising unit
of Petters Group Worldwide.

Thomas Petters, the founder and former CEO of Petters Group, has
been indicted and a criminal proceeding against him is proceeding
in the U.S. District Court for the District of Minnesota.

Petters Company, Petters Group Worldwide and eight other
affiliates filed separate petitions for Chapter 11 protection
(Bankr. D. Minn. Lead Case No. 08-45257) on Oct. 11, 2008.  James
A. Lodoen, Esq., at Lindquist & Vennum P.L.L.P., represents the
Debtors as counsel.  In its petition, Petters Company estimated
its debts at $500 million and $1 billion.  Parent Petters Group
Worldwide estimated its debts at not more than $50,000.

Petters Aviation, LLC, and affiliates MN Airlines, LLC, doing
business as Sun Country Airlines, Inc., and MN Airline Holdings,
Inc., filed separate petitions for Chapter 11 bankruptcy
protection (Bankr. D. Minn. Case Nos. 08-45136, 08-35197 and
08-35198) on Oct. 6, 2008.  Petters Aviation is a wholly owned
unit of Thomas Petters Inc. and owner of MN Airline Holdings, Sun
Country's parent company.


PHILADEPHIA ORCHESTRA: Musicians Spurn Management's Plan
--------------------------------------------------------
Peter Dobrin at Inquirer Music Critic reports that, in a stunning
rebuke to the official leadership of the Philadelphia Orchestra,
musicians have rejected a strategic plan prepared by president
Allison B. Vulgamore and management leaders.

According to the report, players "formally reject its
recommendations," states a letter to Vulgamore and Philadelphia
Orchestra Association board chairman Richard B. Worley.  "The
document and its suggestions have serious flaws, and we do not
believe it will do what a strategic plan is supposed to do: create
a plan for the future that protects the music we create and builds
on our legacy as one of the world's greatest orchestras."

The report says the May 19 strategic plan detailed troubling
trends in ticket sales and philanthropy, and outlined ideas to
re-engage audiences and donors.  The artistic budget would be
limited, and international touring curtailed except to the extent
that it could be funded.  Although the language was vague, the
plan proposed expanding the orchestra's repertoire into more
populist realms, and suggested repackaging ideas such as dressing
the musicians in more informal attire and holding social events in
connection with concerts.  Many of these ideas have been proposed
or tried here before.

                  About the Philadelphia Orchestra

The Philadelphia Orchestra -- http://www.philorch.org/-- claims
to be among the world's leading orchestras.  Bloomberg News says
the orchestra became the first major U.S. symphony to file for
bankruptcy protection, surprising the music world.

Previous conductors include Fritz Scheel (1900-07), Carl Pohlig
(1907-12), Leopold Stokowski (1912-41), Eugene Ormandy (1936-80),
Riccardo Muti (1980-92), Wolfgang Sawallisch (1993-2003), and
Christoph Eschenbach (2003-08).  Charles Dutoit is currently chief
conductor, and Yannick Nezet-Seguin has assumed the title of music
director designate until he takes up the baton as The Philadelphia
Orchestra's next music director in 2012.

The Philadelphia Orchestra Association, The Academy of Music of
Philadelphia, Inc., and Encore Series, Inc., filed separate
Chapter 11 petitions (Bankr. E.D. Pa. Case Nos. 11-13098 to
11-13100) on April 16, 2011.  Judge Eric L. Frank presides over
the case.  The Philadelphia Orchestra Association is being advised
by Dilworth Paxson LLP, its legal counsel, and Alvarez & Marsal,
its financial advisor.  Curley, Hessinger & Johnsrud serves as its
special counsel.  In its petition, Philadelphia
Orchestra estimated $10 million to $50 million in assets and
debts.

Encore Series, Inc., tapped EisnerAmper LLP as accountants and
financial advisors.

Roberta A. DeAngelis, the U.S. Trustee for Region 3, appointed
seven members to the official committee of unsecured creditors in
the Debtors' case.  Reed Smith LLP serves as the Committee's
counsel.

The orchestra at the start of the Chapter 11 case said it needed
relief from pension obligations, a new lease with the Kimmel
Center where it performs, and a new union contract with musicians.


PONIARD PHARMACEUTICALS: Incurs $3.9-Mil. 2nd Quarter Net Loss
--------------------------------------------------------------
Poniard Pharmaceuticals, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $3.9 million for the three months
ended June 30, 2011, compared with a net loss of $6.6 million for
the same period last year.  To date, the Company has not
received any revenues from sales of picoplatin.

The Company reported a net loss of $7.1 million for the six months
ended June 30, 2011, compared with a net loss of $19.1 million for
the same period last year.

The Company's balance sheet at June 30, 2011, showed $10.0 million
in total assets, $3.7 million in total liabilities, and
stockholders' equity of $6.3 million.

As reported in the TCR on April 6, 2011, Ernst & Young LLP, in
Palo Alto, Calif., expressed substantial doubt about Poniard
Pharmaceuticals' ability to continue as a going concern, following
the Company's 2010 results.  The independent auditors noted that
the Company has incurred recurring operating losses and negative
cash flows from operations.

A copy of the Form 10-Q is available at http://is.gd/7fL70x

San Francisco, Calif.-based Poniard Pharmaceuticals, Inc. (Nasdaq:
PARD) -- http://www.poniard.com/-- is a biopharmaceutical company
focused on the development and commercialization of innovative
oncology products.  The Company's lead product candidate is
picoplatin, a chemotherapeutic designed to treat solid tumors that
are resistant to existing platinum-based cancer therapies.


POSITRON CORP: Incurs $2.8 Million Net Loss in Second Quarter
-------------------------------------------------------------
Positron Corporation filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, reporting a net loss
of $2.83 million on $3.02 million of revenue for the three months
ended June 30, 2011, compared with a net loss of $6.39 million on
$934,000 of revenue for the same period during the prior year.

The Company also reported a net loss of $3.57 million on
$5.89 million of revenue for the six months ended June 30, 2011,
compared with a net loss of $9.65 million on $1.40 million of
revenue for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $3.41 million
in total assets, $4.33 million in total liabilities, and a
$916,000 total stockholders' deficit.

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

                       http://is.gd/xPlnKa

                   About Positron Corporation

Headquartered in Fishers, Indiana, Positron Corporation is a
molecular imaging company focused on nuclear cardiology.

The Company reported a net loss of $10.92 million on $4.62 million
of sales for the year ended Dec. 31, 2010, compared with a net
loss of $5.75 million on $1.44 million of sales during the prior
year.

As reported by the TCR on April 6, 2011, Sassetti LLC, in Oak
Park, Illinois, noted that the Company has a significant
accumulated deficit which raises substantial doubt about its
ability to continue as a going concern.


POWER EFFICIENCY: Incurs $980,000 Net Loss in Second Quarter
------------------------------------------------------------
Power Efficiency Corporation filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q reporting a
net loss of $980,107 on $112,165 of revenue for the three months
ended June 30, 2011, compared with a net loss of $1.43 million on
$125,575 of revenue for the same period a year ago.

The Company also reported a net loss of $1.85 million on $270,771
of revenue for the six months ended June 30, 2011, compared with a
net loss of $1.71 million on $235,605 of revenue for the same
period during the prior year.

The Company's balance sheet at June 30, 2011, showed $3.41 million
in total assets, $1.22 million in total liabilities, and
$2.19 million total stockholders' equity.

As reported in the TCR on April 6, 2011, BDO USA, LLP, in Las
Vegas, Nevada, expressed substantial doubt about Power
Efficiency's ability to continue as a going concern, following the
Company's 2010 results.  The independent auditors noted that the
Company has suffered recurring losses and has generated negative
cash flows from operations.

Continuation of the Company as a going concern is dependent upon
achieving profitable operations or accessing sufficient operating
capital.  Management's plans to achieve profitability include
developing new products, obtaining new customers and increasing
sales to existing customers.  Management is seeking to raise
additional capital through equity issuance, debt financing or
other types of financing.  However, there are no assurances that
sufficient capital will be raised.  If the Company is unable to
obtain it on reasonable terms, it would be forced to restructure,
file for bankruptcy or significantly curtail operations.

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

                        http://is.gd/ztkhFP

                       About Power Efficiency

Las Vegas, Nevada-based Power Efficiency Corporation (OTC: PEFF) -
- http://www.powerefficiency.com/-- is a clean technology
company focused on efficiency technologies for electric motors.


PROFESSIONAL VETERINARY: Parties Defer Plan Outline Hearing
-----------------------------------------------------------
The Hon. Timothy J. Mahoney of the U.S. Bankruptcy Court for the
District of Nebraska deferred the hearing to consider adequacy of
the disclosure statement explaining Professional Veterinary
Products, Ltd.'s proposed Chapter 11 Plan.

The hearing was originally set for Aug. 15, 2011, and will be
continued until the parties request further hearing.

At the hearing, the Court will also consider the objections filed
by creditors Direct Vet Marketing, Inc., and Agri-Laboratories.

                             The Plan

As reported in the Troubled Company Reporter on Dec. 29, 2010, the
Debtors and the Official Committee of Unsecured Creditors
submitted a proposed Plan of Liquidation and an explanatory
Disclosure Statement.

According to the Disclosure Statement, the Plan will facilitate
the final liquidation of the Debtors' estates and the distribution
of the proceeds obtained therefrom to holders of allowed claims.

Upon the Effective Date, any and all remaining assets of the
Debtors and their estates, including (a) all Unencumbered assets
and (b) all cash, will be transferred to, and vest in, the
Liquidating Trust, subject to any lien that is not waived,
released or discharged on the Effective Date of the Plan; all
assets will constitute the Trust Estate, subject to those liens.

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

              About Professional Veterinary Products

Professional Veterinary Products Ltd. -- http://www.pvpl.com/--
operates a veterinary supply company owned and managed by
veterinarians.

Professional Veterinary sought Chapter 11 protection from
creditors on August 20, 2010, in Omaha, Nebraska (Bankr. D. Neb.
Case No. 10-82436).  Affiliates ProConn and Exact Logistics also
filed for Chapter 11.

The Company reported $89.79 million in total assets,
$78.23 million in total liabilities, and $11.56 million in
stockholders' equity at April 30, 2010.

The Company hired McGrath North Mullin & Kratz PC LLC, as
bankruptcy counsel and Alliance Management as financial and
restructuring advisors.


RADIANT OIL: Incurs $507,000 Net Loss in Second Quarter
-------------------------------------------------------
Radiant Oil & Gas, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q reporting a
net loss of $507,009 on $58,178 of oil and gas sales for the three
months ended June 30, 2011, compared with a net loss of $467,949
on $48,905 of oil and gas sales for the same period a year ago.

The Company also reported a net loss of $1.93 million on $109,568
of oil and gas sales for the six months ended June 30, 2011,
compared with a net loss of $671,478 on $93,759 of oil and gas
sales for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $3.26 million
in total assets, $7.95 million in total liabilities, and a
$4.69 million total Radiant oil & gas stockholders' deficit.

The Company was unable to file its quarterly report on Form 10-Q
for the period ended June 30, 2011, within the prescribed time
period due to its difficulty in completing and obtaining required
financial and other information without unreasonable effort and
expense.

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

                        http://is.gd/zvdiLq

                      About Radiant Oil & Gas

Houston, Tex.-based Radiant Oil & Gas, Inc., seeks to develop,
produce, and acquire oil and natural gas properties along the Gulf
Coasts of Texas and Louisiana and on the Outer Continental Shelf
of the United States.

The Company reported a net loss of $2.97 million on $169,649 of
oil and gas revenue for the year ended Dec. 31, 2010, compared
with a net loss of $1.27 million on $106,502 of oil and gas
revenue during the prior year.

As reported by the TCR on April 25, 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 has recurring losses from operations and
has a working capital deficit.


RAINBOW 215: Court Confirms Chapter 11 Plan of Reorganization
-------------------------------------------------------------
The Hon. Bruce A. Markell of the U.S. Bankruptcy Court for the
District of Nevada confirmed the amended Chapter 11 plan of
reorganization of Rainbow 215 LLC.  The Court finds that
Rainbow 215 has met by a preponderance of the evidence the
applicable requirements for confirmation under Section 1129(a).

In its proposed plan for reorganization, Rainbow 215 identifies
five classes:

   -- Class 1 consists of City National's claim in the principal
      amount of $9,665,915;

   -- Class 2 consists of Vestin's claim in the principal amount
      of $750,000;

   -- Class 3 consists of Rainbow 6 215's six unsecured creditors
      who hold claims in the aggregate amount of $198,766;

   -- Class 4 consists of Rainbow 215's five self-identified
      insiders who hold claims in the aggregate amount of
      $675,927; and

   -- Class 5 consists of Rainbow 215's two equity shareholders.

The preceding five classes are all impaired under the Plan.  In
its Plan, Rainbow 215 proposes to pay the entirety of City
National's secured claim in a balloon payment on or before
December 31, 2015.  In the meantime, Rainbow 215 proposes to make
monthly interest payments to City National at a 4% interest rate
based on a principal amount of $9,665,914.78.  The Plan proposes
similar treatment with respect to Vestin; that is, it will pay
Vestin's claim in full on or before December 31, 2005.  In the
meantime, Rainbow 215 will make monthly interest payments to
Vestin at a 10% interest rate, which represents a negotiated rate.

Under the Plan, both City National and Vestin will retain their
liens against the Property.  Therefore, upon default of the Plan,
either or both parties may seek appropriate remedies against
Rainbow 215, including foreclosure of the Property.  The Plan also
provides for payment in full to all members of Class 3, without
interest, on or before five years from the effective date of plan
confirmation.  Alternatively, the Plan provides an option to this
class; instead of receiving a balloon payment at the end of the
fifth year, a member of Class 3 with a claim under $30,000 may
elect to receive a one-time lump sum payment equal to 75% of its
claim, which it would receive within ninety days from the
effective date of plan confirmation.  Rainbow 215, however,
retains the right to unilaterally rescind an unsecured creditor's
exercise of this option, and instead pay the unsecured creditor
pursuant to its primary proposed scheme for Class 3 creditors.

Class 4 and 5 claims are subordinated to Class 3 claims; the Plan
proposes distribution only if and when all payments to Class 3 are
made pursuant to the Plan.  However, the Plan does not actually
propose any type of distribution to Class 5, merely proposing that
its equity holders will retain their ownership interests in
Rainbow 215.

Las Vegas, Nevada-based Rainbow 215, LLC, filed for Chapter 11
(Bankr. D. Nev. Case No. 09-23414) on July 27, 2009.  David
Mincin, Esq., at Law Offices of Richard Mcknight, P.C., represents
the Debtor in its restructuring effort.  The Debtor did not file a
list of its 20 largest unsecured creditors when it filed its
petition.  In its petition, the Debtor disclosed total assets of
$16.9 million and total debts of $11.3 million.


ROCHA DAIRY: Court OKs Robinson Anthon as Bankruptcy Lawyers
------------------------------------------------------------
The U.S. bankruptcy Court for the District of Idaho has approved
Rocha Dairy, LLC's application to approve its employment of legal
counsel:

          Brent T. Robinson, Esq.
          Kelly Arthur Anthon, Esq.
          ROBINSON, ANTHON & TRIBE
          615 H Street
          P.O. Box 396
          Rupert, ID 83350-0396
          Tel: (208) 436-4717
          Fax: (208) 436-6804
          E-mail: btr@idlawfirm.com
                  kaa@idlawfirm.com

Brent T. Robinson and Kelly Arthur Anthon are partners at the
firm.  They attest that the firm does not represent or hold any
interest adverse to Debtor.

The firm's hourly rates are:

     Brent T. Robinson               $200 per hour
     Kelly Arthur Anthon             $160 per hour

The Debtor has paid the firm a $15,000 retainer fee.  Of that
amount $4,305 was applied to prepetition fees and costs, and fees
and costs incurred in the preparation and filing of the case.  The
balance of $10,695 is being held in trust and to be applied to
postpetition fees and costs, subject to Court approval.

                         About Rocha Dairy

Based in Wendell, Idaho, Rocha Dairy, LLC, aka Rocha Farms, filed
for Chapter 11 bankruptcy (Bankr. D. Idaho Case No. Case No. 11-
40836) on May 25, 2011.  Judge Jim D. Pappas presides over the
case.

In its petition, the Debtor estimated $10 million to $50 million
in assets and $1 million to $10 million in debts.  The petition
was signed by Elcidio Rocha, member.


RQB RESORT: Sept. 15 Hearing on Chapter 11 Plan
-----------------------------------------------
Gavin Daly at The Sunday Business Post Online reports that RQB
Resort LP submitted a new Chapter 11 reorganization plan,
proposing that Goldman Sachs would get 100 percent ownership of
the company in settlement of its claim.  If the plan is accepted,
all the existing shareholders will have their shares cancelled and
lose their investment.

According to the report, the US Bankruptcy Court in Jacksonville
in Florida, will consider the RQB Resort plan at a hearing on
Sept. 15.  If the court approves the plan, creditors of the
company will then vote on its acceptance or rejection.

The report says RQB Resort said it had contacted about 65 parties
about investing in the resort, but had failed to get investment.
It said that investors were deterred by a court ruling earlier
this year that the resort was worth $132 million, meaning Goldman
Sachs was entitled to recover $132 million from any new
investment.

                         About RQB Resort

RQB Resort LP and RQB Development LP own Florida's Sawgrass
Marriott Resort, the site of the U.S. PGA Tour's Tournament
Players Championship.

Ponte Vedra Beach, Florida-based RQB Resort, LP, aka Sawgrass
Marriott Resort & Cabana Club, filed for Chapter 11 bankruptcy
protection (Bankr. M.D. Fla. Case No. 10-01596) on March 1, 2010.
The Company's affiliate -- RQB Development, LP, aka Sawgrass
Marriott Golf Villas & Spa -- filed a separate Chapter 11
petition.  The Company estimated its assets and debts at
$100 million to $500 million in its Chapter 11 petition.


SAFETY HARBOR: Commission Approves Deal to Buy 13-Acre Property
---------------------------------------------------------------
Demorris A. Lee at St. Petersburg Times reports that the city
commission of Safety Harbor, Florida, unanimously voted to move
forward on an agreement to buy nearly 13 acres of property that
abuts Old Tampa Bay, intending to make it a city park.

According to the report, since May, the city has been in
negotiations with Safety Harbor Resort and Spa to purchase the
land.  The deal is part of a financial restructuring plan to get
the resort out of bankruptcy.

Now that the commission has approved a land use agreement for the
property, Safety Harbor will place $100,000 in an escrow account
to set up the final purchase of the land.  In addition, the
commission authorized up to $13,500 for a survey of the area and
$6,000 for an appraisal.  The money is coming from property taxes
generated from the city's Community Redevelopment Area, the report
notes.

The final sale price is predicated on the property appraisal.  A
$3.3 million city tab was presented to the commission Monday.  If
the appraisal comes back for more than what the city has offered,
the $3.3 million offer will stand.  If it's under that figure, the
city can attempt to renegotiate the deal.

                      About S.H.S. Resort

The Safety Harbor Resort and Spa is one of Florida's largest and
oldest spas.  Known for the mineral springs that run beneath the
property, the spa has been in Safety Harbor's downtown for 60
years.

S.H.S. Resort LLC, a company formed by Dunedin developer Olympia
Development Group, purchased the Safety Harbor Resort and Spa in
2004 for more than $20 million.

Safety Harbor, Florida-based S.H.S. Resort, LLC filed for Chapter
11 bankruptcy protection (Bankr. M.D. Fla. Case No. 10-25886) on
Oct. 28, 2010.  Steven M. Berman, Esq., and Hugo S. de Beaubien,
Esq., at Shumaker, Loop & Kendrick, LLP, assist the Debtor in its
restructuring effort.  The Debtor scheduled $8,105,980 in assets
and $31,705,109 in liabilities.

Safety Harbor Resort received approval from the bankruptcy judge
of its financial restructuring plan in July 2011.

Judge Michael G. Williamson delayed a final decision on the sale
of up to 15 acres of the resort's property to the City of Safety
Harbor until Sept. 7, 2011.  The two parties are still trying to
finalize an acceptable deal.

With the resort's approved restructuring plan, its secured debt
will be reduced from $30 million to about $17.8 million. Wells
Fargo originally held the loan until it was sold to German
American Capital Corp. According to the approved plan, the debt
will be repaid over a five-year period.


SHENGDATECH INC: Board Sues CEO in Chinese Reverse Merger Case
--------------------------------------------------------------
Michael Bathon at Bloomberg News reports that board members of
ShengdaTech Inc., a Chinese company that gained access to U.S.
investors through a reverse merger, sued the chief executive
officer of the bankrupt chemical maker, claiming he's obstructing
an internal fraud investigation.  A special committee of
ShengdaTech sued Chen Xiangzhi to prevent him from regaining
control of the company, ending a probe of its finances and ousting
a newly appointed chief restructuring officer.

Reorganizing ShengdaTech requires "the continued existence of the
special committee and the CRO, and the preservation of their
independent powers," the board members said in court papers filed
Aug. 20 in U.S. Bankruptcy Court in Reno, Nevada, according to the
report.

                         About ShengdaTech

Headquartered in Shanghai, China, ShengdaTech, Inc., makes nano
precipitated calcium carbonate for the tire industry.  ShengdaTech
converts limestone into nano-precipitated calcium carbonate (NPCC)
using its proprietary and patent-protected technology.  NPCC
products are increasingly used in tires, paper, paints, building
materials, and other chemical products.  In addition to its broad
customer base in China, the Company currently exports to
Singapore, Thailand, South Korea, Malaysia, India, Latvia and
Italy.

ShengdaTech Inc. sought Chapter 11 bankruptcy protection from
creditors (Bankr. D. Nev. Case No. 11-52649) on Aug. 19, 2011, in
Reno, Nevada, in the United States.

The Shanghai-China based company said in its bankruptcy filing it
would fire all of its officers and restructure to try to recover
from an accounting scandal.

The Company disclosed $295.4 million in assets and $180.9 million
in debt as of Sept. 30, 2011.

The Company's legal representative in its Chapter 11 case is
Greenberg Traurig, LLP. The Board of Directors Special Committee's
legal representative is Skadden, Arps, Slate, Meagher & Flom LLP.


SKILLSOFT: S&P Affirms B+ Corp. Credit Rating; Outlook Negative
---------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook on Nashua,
N.H.-based SkillSoft to negative from stable. "We also affirmed
our 'B+' corporate credit rating on the company," S&P said.

"In addition, we affirmed the 'BB' bank loan rating on the
company's $365 million first-lien secured debt with a recovery
rating of '1', indicating very high (90%-100%) recovery in the
event of a payment default. We also affirmed the 'B-' bank loan
rating on the $310 million senior unsecured notes with a recovery
rating of '6', indicating negligible (0%-10%) recovery in the
event of a payment default," S&P related.

"The rating action reflects pressures on the company's margins and
its ability to reduce debt as quickly as we had earlier
anticipated," said Standard & Poor's credit analyst Jacob
Schlanger.

Adjusted revenue has flattened despite increased investment in R&D
and selling and marketing such that margins in the April quarter
were pressured and annualized leverage rose to about 6x from about
5x for fiscal 2011.

"We are uncertain about SkillSoft's ability to reverse the trends
and reduce leverage over the coming year," added Mr. Schlanger.


SKINNY NUTRITIONAL: Incurs $2.5 Million Second Quarter Net Loss
---------------------------------------------------------------
Skinny Nutritional Corp. filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $2.52 million on $2.11 million of net revenue for the
three months ended June 30, 2011, compared with a net loss of
$2.17 million on $2.25 million of net revenue for the same period
a year ago.

The Company also reported a net loss of $3.39 million on $3.72
million of net revenue for the six months ended June 30, 2011,
compared with a net loss of $3.21 million on $4.02 million of net
revenue for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $4.30 million
in total assets, $5.15 million in total liabilities, all current,
and a $850,635 stockholders' deficit.

The Company reported a net loss of $6.91 million on $6.92 million
of net revenue for the year ended Dec. 31, 2010, compared with a
net loss of $7.30 million on $4.14 million of net revenue during
the prior year.

As reported by the TCR on April 25, 2011, Marcum, LLP, in Bala
Cynwyd, Pennsylvania, expressed substantial doubt about the
Company's ability to continue as a going concern, following the
2010 financial results.  The independent auditors noted that the
Company had a working capital deficiency of $3,517,280, an
accumulated deficit of $37,827,090, stockholders' deficit of
$2,658,043 and no cash on hand.  The Company had net losses of
$6,914,269 and $7,305,831 for the years ended Dec. 31, 2010 and
2009, respectively.  Additionally, the Company is currently in
arrears under its obligation for the purchase of trademarks.
Under the agreement, the seller of the trademarks may choose to
exercise their legal rights against the Company's assets, which
includes the trademarks.

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

                        http://is.gd/Cck3d1

                     About Skinny Nutritional

Bala Cynwyd, Pa.-based Skinny Nutritional Corp. (OTC BB: SKNY.OB)
-- http://www.SkinnyWater.com/-- has developed and is marketing a
line of enhanced waters, all branded with the name "Skinny Water"
that are marketed and distributed primarily to calorie and weight
conscious consumers.


SPARTA COMMERCIAL: Incurs $3.6 Million Net Loss in Fiscal 2011
--------------------------------------------------------------
Sparta Commercial Services, Inc., filed with the U.S. Securities
and Exchange Commission its annual report on Form 10-K reporting
a net loss of $3.66 million on $513,768 of total revenue for the
year ended April 30, 2011, compared with a net loss of $4.14
million on $713,363 of total revenue for the same period during
the prior year.

The Company's balance sheet at June 30, 2011, showed $1.48 million
in total assets, $4.43 million in total liabilities and a $2.94
million total deficit.

RBSM LLP, in New York, noted that the company has suffered
recurring losses from operations that raises substantial doubt
about the company's ability to continue as a going concern.

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

                        http://is.gd/uRph8g

                      About Sparta Commercial

Based in New York, Sparta Commercial Services, Inc.
-- http://www.spartacommercial.com/-- is a nationwide financial
services company offering financing and leasing products to
consumers and retail powersports dealers.  Sparta also serves
municipal and governmental agencies nationwide with its Municipal
Lease Program, which offers financing for essential equipment for
the law enforcement and emergency response communities.

The Company's subsidiary, Specialty Reports, Inc. d/b/a Cyclechex,
is in the business of offering online access to detailed product
ownership and usage reports for various classes of previously
owned assets.  Cyclechex's initial product release is the
Cyclechex Motorcycle History Report.


SPECTRAWATT INC: Seeks Chapter 11 Protection
--------------------------------------------
Dow Jones' DBR Small Cap reports that against quickly unraveling
market conditions within the U.S. solar panel industry, solar cell
manufacturer SpectraWatt Inc. filed for Chapter 11 bankruptcy
protection Friday to sell itself, likely to one of a handful of
foreign buyers that have considered its New York manufacturing
plant that operated for mere months before shutting down.


STACKPOLE POWERTRAIN: S&P Assigns 'B+' Corporate; Outlook Stable
----------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B+' long-term
corporate credit rating, and stable outlook, to Ontario-based
automotive supplier Stackpole Powertrain
International ULC.

At the same time, Standard & Poor's assigned its 'BB-' senior
secured debt rating, and '2' recovery rating, to Stackpole's
proposed $165 million senior secured credit facility. The facility
consists of a $25 million senior secured revolver due 2016 and a
US$140 million senior secured term loan due 2017.

"The ratings on Stackpole reflect what we view as the company's
weak business risk profile, which incorporates its relatively
limited size and diversity; its need to operate as a stand-alone
entity after its divestiture from Tomkins plc; and the auto parts
industry's volatile demand, intense competition, and constant
pricing pressure," said Standard & Poor's credit analyst Arthur
Wong. Tomkins is selling Stackpole to private equity sponsor The
Sterling Group (not rated).

Stackpole's business is divided into two main divisions --
engineered products (oil pumps for automotive engines and
transmissions) and powdered metal (manufacturing of high end
components for automotive powertrain) -- each accounting for about
50% of total revenues. In terms of market share, the company holds
the leading and second-leading positions, for oil pump and
powdered metal parts, respectively, in North America. Stackpole is
midsized, with more than $325 million in projected sales in 2011.

The company is positioned to benefit from the overall general
recovery in North American automotive production. "We project that
automotive production should reach 13 million units in 2011, still
below the recent peak production level, but above 2010's 12.2
million and well above the 8.8 million recorded in the 2009
recession year. Demand for Stackpole's variable displacement oil
pumps and lightweight, but stronger, powdered metal parts should
increase, as automakers are stressing increased gas mileage, in
preparation for stricter mileage guidelines being set by the U.S
government, and better performance. The company's products are
usually associated with long-lived auto platforms that are used
across several nameplates," S&P related.

In the engineered products division, Stackpole provides both
variable and fixed displacement oil pumps. As well, its higher-
margin powdered metal components division is the second-largest
supplier in the North American market. The company is a sole
source provider of 93% of the platforms it supplies. Standard &
Poor's considers powder metal parts as a noncommoditized product,
given the complexity and margins of the product. More complex
transmissions and the continued drive for performance will likely
power the continued growth and penetration of powder metal
automotive parts.

However, the auto parts industry is fragmented and highly
competitive. Stackpole competes against much larger, more diverse
players such as Magna International Inc. (BBB+/Stable/--) and
BorgWarner Inc. (BBB/Stable/--). "We also consider Stackpole's
diversity to be relatively low. To expand overseas, Stackpole will
have to displace larger, broader, and more international auto
parts suppliers that likely hold long-term relationships with the
other automakers. Still, the direction and pace of the auto
industry recovery is also uncertain and Stackpole will have to
operate as a stand-alone company after many years under the
Tomkins umbrella," S&P stated.

"The stable outlook reflects our expectation that Stackpole will
generate positive free cash flows and improving operating
performance, given the continued recovery in North American light
vehicle production. However, the economy could remain sluggish and
we believe the newly independent company's financial policies will
be uncertain under its new private equity owners. We could lower
the ratings if free operating cash flow generation turns negative
for consecutive quarters or debt leverage exceeds 4x over an
extended period. We consider an upgrade unlikely in the next year,
given Stackpole's limited track record as an independent company;
product, market, and geographic concentrations; and likely
aggressive financial policies under its private equity owner," S&P
related.


TAVERN ON THE GREEN: Rights Get $1.3 Million Opening Bid
--------------------------------------------------------
Carla Main at Bloomberg News reports that a potential buyer agreed
to start the bidding for limited rights to the name Tavern on the
Green at $1.3 million in an auction in Manhattan bankruptcy court.
Tavern International LLC will be the opening bidder at the
auction, Streambank LLC, the firm hired to find a buyer, said in a
statement.  Tavern on the Green LP filed for bankruptcy protection
in September 2009 after losing its lease to operate the namesake
restaurant in New York's Central Park.

According to Bloomberg, the Company lost a fight with New York
City for rights to the trademark.  U.S. Bankruptcy Judge Allan
Gropper in April approved a settlement between the city and the
Chapter 7 trustee for the company, Jil Mazer-Marino.  The terms of
that accord allowed the trustee to sell the name for restaurants
outside New York, New Jersey, Connecticut and part of Pennsylvania
and for food products. Proceeds are to go to creditors.

A hearing to approve bidding procedures will be Aug. 31, according
to a court filing.  If the rights are sold to another company, the
stalking-horse bidder is to receive a breakup fee of $65,000, the
filing states.

                     About Tavern on the Green

Tavern on the Green LP was the operator of the 75-year-old
restaurant in New York's Central Park.  Tavern on the Green was
founded in 1934 by New York Parks Commissioner Robert Moses and
the license was bought by restaurateur Warner LeRoy in 1974.  The
Company filed for Chapter 11 (Bankr. S.D.N.Y. Case No. 09-15450)
on Sept. 9, 2009, estimating up to $50 million each in assets and
debts. The restaurant closed New Year's Eve 2010.

New York City -- the Tavern's landlord -- and the Debtor both
claimed ownership of the "Tavern on the Green" trademark.

In March 2010, the city of New York City won the right to the
trade name.  Following the trademark ruling, the bankruptcy judge
converted the case to Chapter 7.  Jil Mazer-Marino, appointed
Chapter 7 trustee, appealed the ruling.  The parties put the
appeal on ice while they negotiated settlement.


TAYLOR BEAN: Trustee Files 200 New Suits Over Transfers
-------------------------------------------------------
Lisa Uhlman at Bankruptcy Law360 reports that the chief
restructuring officer for Taylor Bean & Whitaker Mortgage Corp.
fired off nearly 200 new lawsuits in Florida bankruptcy court
Friday and Saturday, seeking to recover allegedly preferential and
fraudulent transfers that were illegal under bankruptcy law.

Trustee Neil F. Luria filed the suits, numbered 3:11-ap-00441
through -00635, against a slew of defendants including Sprint
Nextel Corp., Moody's Investors Service Inc., Home Mortgage Corp.
of America Inc., U.S. Bank NA, Mortgage Guaranty Insurance Corp.,
FedEx Corp. and Deloitte Touche Tohmatsu International, according
to Law360.

                         About Taylor Bean

Taylor, Bean & Whitaker Mortgage Corp. grew from a small Ocala-
based mortgage broker to become one of the largest mortgage
bankers in the United States.  In 2009, Taylor Bean was the
country's third largest direct-endorsement lender of FHA-insured
loans of the largest wholesale mortgage lenders and issuer of
mortgage backed securities.  It also managed a combined mortgage
servicing portfolio of approximately $80 billion.  The company
employed more that 2,000 people in offices located throughout the
United States.

Taylor Bean sought Chapter 11 protection (Bankr. M.D. Fla. Case
No. 09-07047) on Aug. 24, 2009.  Taylor Bean filed the Chapter 11
petition three weeks after federal investigators searched its
offices.  The day following the search, the Federal Housing
Administration, Ginnie Mae and Freddie Mac prohibited the company
from issuing new mortgages and terminated servicing rights.
Taylor Bean estimated more than $1 billion in both assets and
liabilities in its bankruptcy petition.

Jeffrey W. Kelly, Esq., and J. David Dantzler, Jr., Esq., at
Troutman Sanders LLP, in Atlanta, Ga., and Russel M. Blain, Esq.,
and Edward J. Peterson, III, Esq., at Stichter, Riedel, Blain &
Prosser, PA, in Tampa, Fla., represent the Debtors.  Paul Steven
Singerman, Esq., and Arthur J. Spector, Esq., at Berger Singerman
PA, in Miami, Fla., represent the Committee.  BMC Group, Inc.,
serves as the claims and noticing agent.


TERRESTAR NETWORKS: Wants Plan Exclusivity Until Oct. 21
--------------------------------------------------------
Katy Stech at Dow Jones' Daily Bankruptcy Review reports that
executives at TerreStar Networks Inc. want to push back an
approaching deadline to file the company's bankruptcy-exit plan
while they figure out how to distribute money from the company's
$1.375 billion sale to Dish Network Corp. earlier this year.

According to the report, TerreStar, which ran out of money
pursuing its vision for a wireless network that runs through
satellites, still hasn't figured out how to split up the roughly
$310 million that remains once secured creditors are paid off.

The report says executives also said their request was prompted by
a handful of unsettled disputes with creditors, including a
$104 million claim by Sprint Nextel Corp. over band-clearing fees.
In that dispute, the two sides disagree on how to read a Federal
Communications Commission ruling over the fees for bandwidth space
that Sprint said TerreStar owes.

The report notes TerreStar attorneys said they expect other
contested claims will arise.

TerreStar pointed to the progress it has made in paying off its
debts.  Once the company got hold of most of the sale proceeds
on Aug. 11, it paid off $975 million of its secured debt
obligations--including the $85 million bankruptcy loan it used to
operate throughout the proceedings--to prevent interest from
further draining its estate, note the report.

Company officials have "been working tirelessly to distribute
[that money] as fast as they can," the company said in its
extension request filed Wednesday in U.S. Bankruptcy Court in
Manhattan.

Specifically, TerreStar is requesting an extension of its sole
right to file a bankruptcy-exit plan until Oct. 21 -- a move that
requires a bankruptcy judge's permission.  That extension would
block outside groups from filing their own plans.

Company executives have asked a bankruptcy judge to go over their
request at a Sept. 19 hearing.

             About TerreStar Corp. and TerreStar Networks

TerreStar Corporation and TerreStar Holdings, Inc., filed
voluntary Chapter 11 petitions with the U.S. Bankruptcy Court for
the Southern District of New York on Feb. 16, 2011.

TSC's Chapter 11 filing joins the bankruptcy proceedings of
TerreStar Networks Inc. and 12 other affiliates, which filed on
Oct. 19, 2010.  The October Chapter 11 cases are procedurally
consolidated under TSN's Case No. 10-15446 under Judge Sean H.
Lane.

TSC is the parent company of each of the October Debtors.  TSC has
four wholly owned direct subsidiaries: TerreStar Holdings, Inc.,
TerreStar New York Inc., Motient Holdings Inc., and MVH Holdings
Inc.

TSC's case is jointly administered with the cases of seven of the
October Debtors under the caption In re TerreStar Corporation, et
al., Case No. 11-10612 (SHL).  The seven Debtor entities who
sought joint administration with TSC are TerreStar New York Inc.,
Motient Communications Inc., Motient Holdings Inc., Motient
License Inc., Motient Services Inc., Motient Ventures Holdings
Inc., and MVH Holdings Inc.

TSC is a Delaware corporation whose main asset is the equity in
non-Debtor TerreStar 1.4 Holdings LLC, which has the right to use
a "1.4 GHz terrestrial spectrum" pursuant to 64 licenses issued by
the Federal Communication Commission.  TSC also has an indirect
89.3% ownership interest in TerreStar Network, Inc., which
operates a separate and distinct mobile communications business.
TerreStar Holdings is a Delaware corporation that directly holds
100% of the interests in 1.4 Holdings LLC.

TerreStar Networks -- TSN -- the principal operating entity of
TSC, developed an innovative wireless communications system to
provide mobile coverage throughout the United States and Canada
using satellite-terrestrial smartphones.  The system, however,
required an enormous amount of capital expenditures and initially
produced very little in the way of revenue.  TSN's available cash
and borrowing capacity were insufficient to cover its funding;
thus, forcing TSN to seek bankruptcy protection in October 2010.

TSC estimated assets and debts of $100 million to $500million in
its Chapter 11 petition.

Ira S. Dizengoff, Esq., at Akin, Gump, Strauss, Hauer & Feld, LLP,
in New York, serves as counsel for the TSC and TSN Debtors.
Garden City Group is the claims and notice agent.  Blackstone
Advisory Partners LP is the financial advisor.

The Garden City Group, Inc., is the claims and noticing agent in
the Chapter 11 cases.  Otterbourg Steindler Houston & Rosen P.C.
is the counsel to the Official Committee of Unsecured Creditors
formed in TSN's Chapter 11 cases.  FTI Consulting, Inc., is the
Committee's financial advisor.


TERRESTAR CORP: Judge Rejects Sprint's Summary Judgment Plea
------------------------------------------------------------
Ed Silverstein at TMCnet.com reports that a New York City
bankruptcy judge turned down Sprint Nextel's request for partial
summary judgment against bankrupt operator TerreStar.

According to Reuters, Sprint had filed a claim of $104 million
against TerreStar.  The amount represents the share of the cost
that Sprint got when acquiring bandwidth that TerreStar now uses

Sprint, TMC relates, also wanted the court to declare -- a lien on
TerreStar's license assets -- to be invalid or subordinate.

But Judge Sean Lane argued the bankruptcy judge determines
priority of Sprint's claim versus claims from other interested
parties, Reuters said.

TMCnet reported there are discussions underway that Sprint may try
to buy the rest of Clearwire it does not already own, in some kind
of collaboration with several U.S. cable companies.  "In the
latest rumored discussions, Sprint has been looking for some way
to raise investment capital from cable operators to finance a
complete buyout of Clearwire.  Whether that would involve a direct
cable investment in Sprint or in Clearwire is not clear," says a
new report from TMCnet.

A consortium of cable companies may want to acquire Clearwire,
which would give them greater control of the company, TMCnet adds.

             About TerreStar Corp. and TerreStar Networks

TerreStar Corporation and TerreStar Holdings, Inc., filed
voluntary Chapter 11 petitions with the U.S. Bankruptcy Court for
the Southern District of New York on Feb. 16, 2011.

TSC's Chapter 11 filing joins the bankruptcy proceedings of
TerreStar Networks Inc. and 12 other affiliates, which filed on
Oct. 19, 2010.  The October Chapter 11 cases are procedurally
consolidated under TSN's Case No. 10-15446 under Judge Sean H.
Lane.

TSC is the parent company of each of the October Debtors.  TSC has
four wholly owned direct subsidiaries: TerreStar Holdings, Inc.,
TerreStar New York Inc., Motient Holdings Inc., and MVH Holdings
Inc.

TSC's case is jointly administered with the cases of seven of the
October Debtors under the caption In re TerreStar Corporation, et
al., Case No. 11-10612 (SHL).  The seven Debtor entities who
sought joint administration with TSC are TerreStar New York Inc.,
Motient Communications Inc., Motient Holdings Inc., Motient
License Inc., Motient Services Inc., Motient Ventures Holdings
Inc., and MVH Holdings Inc.

TSC is a Delaware corporation whose main asset is the equity in
non-Debtor TerreStar 1.4 Holdings LLC, which has the right to use
a "1.4 GHz terrestrial spectrum" pursuant to 64 licenses issued by
the Federal Communication Commission.  TSC also has an indirect
89.3% ownership interest in TerreStar Network, Inc., which
operates a separate and distinct mobile communications business.
TerreStar Holdings is a Delaware corporation that directly holds
100% of the interests in 1.4 Holdings LLC.

TerreStar Networks -- TSN -- the principal operating entity of
TSC, developed an innovative wireless communications system to
provide mobile coverage throughout the United States and Canada
using satellite-terrestrial smartphones.  The system, however,
required an enormous amount of capital expenditures and initially
produced very little in the way of revenue.  TSN's available cash
and borrowing capacity were insufficient to cover its funding;
thus, forcing TSN to seek bankruptcy protection in October 2010.

TSC estimated assets and debts of $100 million to $500million in
its Chapter 11 petition.

Ira S. Dizengoff, Esq., at Akin, Gump, Strauss, Hauer & Feld, LLP,
in New York, serves as counsel for the TSC and TSN Debtors.
Garden City Group is the claims and notice agent.  Blackstone
Advisory Partners LP is the financial advisor.

The Garden City Group, Inc., is the claims and noticing agent in
the Chapter 11 cases.  Otterbourg Steindler Houston & Rosen P.C.
is the counsel to the Official Committee of Unsecured Creditors
formed in TSN's Chapter 11 cases.  FTI Consulting, Inc., is the
Committee's financial advisor.


TRIBUNE CO: Appeals Court Ruling May Force Tribune to Split Assets
------------------------------------------------------------------
Tribune Company may be forced to divest its broadcast or
newspaper operations in several markets following a recent
appeals court's decision, Lynne Marek of Crain's Chicago Business
reported.

In July 2011, the U.S. Court of Appeals for the Third Circuit
overturned part of the Federal Communication Commission's 2008
revamp of U.S. media-ownership rules that made it easier to own a
newspaper and a broadcast outlet in the same market, according to
the report.  The 3rd Circuit held that the FCC's retooling of the
cross-ownership rules had failed to meet public notice and
comment requirements, the report relays.

Tribune has obtained waivers from the FCC, thus allowing it to
operate broadcast outlets in five markets where it also owns or
has stakes in newspapers: Chicago, New York, Los Angeles, South
Florida and Connecticut, the report adds.

                       About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection (Bankr. D. Del. Lead Case No. 08-13141) on Dec. 8,
2008.  The Debtors proposed Sidley Austin LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North America LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.  Chadbourne & Parke LLP and
Landis Rath LLP serve as co-counsel to the Official Committee of
Unsecured Creditors.  AlixPartners LLP is the Committee's
financial advisor.  Landis Rath Moelis & Company serves as the
Committee's investment banker.  Thomas G. Macauley, Esq., at
Zuckerman Spaeder LLP, in Wilmington, Delaware, represents the
Committee in connection with the lawsuit filed against former
officers and shareholders for the 2007 LBO of Tribune.

Bankruptcy Creditors' Service, Inc., publishes Tribune Bankruptcy
News.  The newsletter tracks the chapter 11 proceeding undertaken
by Tribune Company and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


TRIBUNE CO: Names Tony Hunter CEO of Publishing Division
--------------------------------------------------------
Tribune Company announced on July 18, 2011, a restructuring of
its publishing division designed to streamline the organization,
reposition resources and reduce expenses.  As part of the
restructuring, several of the division's finance and
administrative functions are being reassigned to its business
units in order to achieve greater efficiency.

"The aggressive action we are taking today is designed to
position our print and digital operations for long-term success,"
said Eddy Hartenstein, Tribune's president and chief executive
officer.  "Our consolidated financial results are ahead of plan
for the first half of the year, thanks to better than expected
results from our broadcasting division.  The results from our
publishing division, while on track, continue to experience year-
over-year declines -- with several digital initiatives underway
and this reorganization, we are taking steps to begin to reverse
this trend."

The company announced that Tony Hunter has been appointed chief
executive officer of Tribune Publishing, effective immediately.
Hunter assumes responsibility for the strategic priorities and
day-to-day digital and print operations of seven Tribune
newspaper companies including the Chicago Tribune, Sun Sentinel
(South Florida), Orlando Sentinel, Baltimore Sun, Hartford
Courant, The Morning Call (Allentown, PA), and Daily Press
(Newport News, VA).  The day-to-day publishing and digital
operations of the Los Angeles Times will remain the
responsibility of Kathy Thomson, who was appointed president and
chief operating officer of the Times in May.  She will continue
to report to Hartenstein.

"Tony is an experienced, hands-on leader who understands the
importance of our digital efforts, and how critical they are to
the success of our publishing group," said Mr. Hartenstein.
"He's also helped build the Chicago Tribune Media Group into a
diversified portfolio of products providing news, information and
differentiated content to readers and digital users whenever and
wherever they want it -- that's a model we must replicate across
our markets."

Mr. Hunter was a member of Tribune's executive council from
October 2010 to May 2011, when the council was dissolved.  He
will continue serving as publisher and chief executive officer of
the Chicago Tribune Media Group, a position he has held since
September 2008.

Vince Casanova, appointed to the newly created position of
president and chief operating officer of the Chicago Tribune
Media Group, will assume responsibility for its day-to-day
operations.  Mr. Casanova has been with Tribune for more than 30
years, holding positions of increasing responsibility at Chicago
Tribune and the company's group publishing office.

"Vince is the ideal executive to lead the Chicago Tribune Media
Group," said Mr. Hunter.  "He knows our people, the marketplace
and our operations top-to-bottom, and has helped build our
printing and distribution capability, resulting in substantial
revenue growth."

Mr. Hunter added, "Tribune has a great mix of print and digital
assets, strong brands in major markets, and innovative, talented
people -- we will succeed by leveraging those strengths and
fiercely competing for market share."

As a result of the restructuring, Bob Gremillion, EVP/Tribune
Publishing, and Harry Amsden, SVP/Financial Operations for
Tribune Publishing, will be leaving the company.

"Bob and Harry have made significant contributions to Tribune
during the course of their careers," said Mr. Hartenstein.  "We
are a better company today as a result of their talent and
efforts and we wish them well."

TRIBUNE is one of the country's leading multimedia companies,
operating businesses in publishing, digital and broadcasting. In
publishing, Tribune's leading daily newspapers include the Los
Angeles Times, Chicago Tribune, The Baltimore Sun, Sun Sentinel
(South Florida), Orlando Sentinel, Hartford Courant, The Morning
Call and Daily Press.  The company's broadcasting group operates
23 television stations, WGN America on national cable and
Chicago's WGN-AM.  Popular news and information Web sites
complement Tribune's print and broadcast properties and extend
the company's nationwide audience.

                       About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection (Bankr. D. Del. Lead Case No. 08-13141) on Dec. 8,
2008.  The Debtors proposed Sidley Austin LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North America LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.  Chadbourne & Parke LLP and
Landis Rath LLP serve as co-counsel to the Official Committee of
Unsecured Creditors.  AlixPartners LLP is the Committee's
financial advisor.  Landis Rath Moelis & Company serves as the
Committee's investment banker.  Thomas G. Macauley, Esq., at
Zuckerman Spaeder LLP, in Wilmington, Delaware, represents the
Committee in connection with the lawsuit filed against former
officers and shareholders for the 2007 LBO of Tribune.

Bankruptcy Creditors' Service, Inc., publishes Tribune Bankruptcy
News.  The newsletter tracks the chapter 11 proceeding undertaken
by Tribune Company and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


TRIBUNE CO: Debtors File Periodic Rule 2015.3 Report
----------------------------------------------------
On July 29, 2011, Chandler Bigelow III, executive vice president
and chief financial officer of Tribune Company, submitted with
the Court a report as of December 31, 2010, and June 26, 2011, on
the value, operations and profitability of certain entities in
which one or more Debtors hold: (i) a combined 100% interest of
certain non-debtor entities, or (ii) between a 20% and 50%
interest of certain non-debtor entities.

Mr. Bigelow relates in the report that the estates of Tribune
Company, Tribune Broadcasting Company, TMS Entertainment Guides,
Inc., Tribune Media Services, Inc., Los Angeles Times
Communications LLC, Chicago Tribune Company, Eagle New Media
Investments, LLC, and Tribune Media Net, Inc., hold 100% equity
interest in these entities:

                                                    Net Book
Entity                                               Value
------                                         --------------
Multimedia Insurance Company                       ($477,000)
Riverwalk Center I JV                            $10,808,000
Tribune (FN) Cable Ventures, Inc.               $471,273,000
Tribune Interactive, Inc.                        $74,542,000
Tribune National Marketing Company               $33,153,000
Tribune ND, Inc.                                $538,034,000
Tribune Receivables, LLC                        $281,716,000
TMS Entertainment Guides Canada Corp              $5,082,000
Tribune Hong Kong Ltd.                               $80,000
Tribune Media Services B.V.                      ($5,966,000)
Blue Lynx Media Services B.V.                    ($5,715,000)
CastTV, Inc.                                      $9,469,000

The Periodic Report contains a combined and condensed financial
report of the operations and profitability of the Non-Majority
Interest Entities:

                   Combined Balance Sheets
                  For Non-Majority Entities
                   As of December 31, 2010

ASSETS
Current Assets
  Cash and cash equivalents                        $10,631,000
  Accounts receivable, net                          14,534,000
  Inventories                                          262,000
  Prepaid expenses                                     695,000
                                                 -------------
Total current assets                                 26,122,000

Property, plant & equipment, net                      1,792,000

Other Assets
  Goodwill & other intangible a                        157,000
  Other investments                                    235,000
  Receivables from related parties                   2,433,000
  Other                                              1,959,000
                                                 -------------
Total Assets                                        $32,698,000
                                                 =============

LIABILITIES & SHAREHOLDERS' EQUITY (DEFICIT)
Current Liabilities
  Accounts payable, accrued expenses & other       $13,861,000
                                                 -------------
Total current liabilities                            13,861,000

Other obligations                                    11,867,000
                                                 -------------
Total liabilities                                    25,728,000
                                                 -------------
Shareholders' Equity (Deficit)                        6,970,000
                                                 -------------
Total Liabilities & Shareholders' Equity (Deficit)  $32,698,000
                                                 =============

                   Combined Balance Sheets
                  For Non-Majority Entities
                      As of June 26, 2011

ASSETS
Current Assets
  Cash and cash equivalents                        $12,475,000
  Accounts receivable, net                          15,319,000
  Inventories                                          147,000
  Prepaid expenses                                     819,000
                                                 -------------
Total current assets                                 28,760,000

Property, plant & equipment, net                      1,665,000

Other Assets
  Goodwill & other intangible assets                   157,000
  Other investments                                    235,000
  Receivables from related parties                   2,246,000
  Other                                              2,211,000
                                                 -------------
Total Assets                                        $35,274,000
                                                 =============

LIABILITIES & SHAREHOLDERS' EQUITY (DEFICIT)
Current Liabilities
  Accounts payable, accrued expenses & other       $12,775,000
                                                 -------------
Total current liabilities                            12,775,000

Other obligations                                    13,314,000
                                                 -------------
Total liabilities                                    26,089,000
                                                 -------------
Shareholders' Equity (Deficit)                        9,185,000
                                                 -------------
Total Liabilities & Shareholders' Equity (Deficit)  $35,274,000
                                                 =============

             Combined Statements of Operations
                 For Non-Majority Entities
            For Six Months Ended June 30, 2011

Total Revenue                                       $30,661,000

Operating Expenses
  Cost of sales                                      7,391,000
  Selling, general & administrative                 21,753,000
  Depreciation & amortization                          321,000
                                                 -------------
Total operating expenses                             29,465,000
                                                 -------------
Operating income                                      1,196,000

  Interest expense, net                                 (6,000)
  Non-operating loss, net                             (556,000)
                                                 -------------
Income before income taxes                              634,000
                                                 -------------
Income taxes                                           (319,000)
                                                 -------------
Net income                                             $315,000
                                                 =============


            Combined Statements of Cash Flows
                 For Non-Majority Entities
           For Six Months Ended June 30, 2011

Beginning Cash                                      $10,631,000
                                                 -------------
Net Income                                              315,000

Operating Activities
  Depreciation & amortization                          321,000
  Increase/(increase)in accounts receivables          (785,000)
  Increase/(decrease) in current liabilities        (1,086,000)
  Increase/(decrease) in other obligations           1,447,000
  Decrease/(increase) in inventories                   115,000
  Decrease/(increase) in prepaids & other assets      (189,000)
                                                 -------------
                                                      (177,000)
                                                 -------------
Net Cash Flow from Operating Activities                 138,000

Investing Activities
  Fixed asset disposals/(purchases)                   (194,000)
  Investments                                        1,900,000
                                                 -------------
Net cash flow from investing activities               1,706,000

Net cash flow from financing activities                       -
                                                 -------------
Net cash flow                                         1,844,000
                                                 -------------
Ending cash                                         $12,475,000
                                                 =============

                       About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection (Bankr. D. Del. Lead Case No. 08-13141) on Dec. 8,
2008.  The Debtors proposed Sidley Austin LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North America LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.  Chadbourne & Parke LLP and
Landis Rath LLP serve as co-counsel to the Official Committee of
Unsecured Creditors.  AlixPartners LLP is the Committee's
financial advisor.  Landis Rath Moelis & Company serves as the
Committee's investment banker.  Thomas G. Macauley, Esq., at
Zuckerman Spaeder LLP, in Wilmington, Delaware, represents the
Committee in connection with the lawsuit filed against former
officers and shareholders for the 2007 LBO of Tribune.

Bankruptcy Creditors' Service, Inc., publishes Tribune Bankruptcy
News.  The newsletter tracks the chapter 11 proceeding undertaken
by Tribune Company and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


TRONOX INC: Keeps Bankruptcy Bankers for 'Strategic Options'
------------------------------------------------------------
Carla Main at Bloomberg News reports that Tronox Inc. said it's
working with the same investment bankers who advised the paint-
pigment maker during its bankruptcy reorganization as the company
explores "strategic options."  Chief Executive Officer Dennis L.
Wanlass in a conference call declined to identify the banks or say
whether they're helping Oklahoma City-based Tronox assess a
possible sale.  Tronox hired Moelis & Co. and Goldman Sachs Group
Inc. to explore mergers and acquisitions and dividend options,
Debtwire reported Aug. 16.  Goldman organized a loan for Tronox in
October to help it exit bankruptcy. Investment bank Rothschild
Inc. advised Tronox, according to an Oct. 1 court filing.

Tronox expects to keep running its plants at full capacity amid
"moderate growth" in demand for the remainder of the year.

Second-quarter net income jumped to $66.2 million, or $4.18 a
share, from $11.8 million, or 29 cents, a year earlier as sales
gained 42 percent to $428.3 million.

                         About Tronox Inc.

Tronox Inc., aka New-Co Chemical, Inc., and 14 other affiliates
filed for Chapter 11 protection on Jan. 13, 2009 (Bankr. S.D.N.Y.
Case No. 09-10156), before Hon. Allan L. Gropper.  Richard M.
Cieri, Esq., Jonathan S. Henes, Esq., and Colin M. Adams, Esq., at
Kirkland & Ellis LLP in New York, represented the Debtors.  The
Debtors also tapped Togut, Segal & Segal LLP as conflicts counsel;
Rothschild Inc. as investment bankers; Alvarez & Marsal North
America LLC, as restructuring consultants; and Kurtzman Carson
Consultants served as notice and claims agent.

An official committee of unsecured creditors and an official
committee of equity security holders were appointed in the cases.
The Creditors Committee retained Paul, Weiss, Rifkind, Wharton &
Garrison LLP as counsel.

Until Sept. 30, 2008, Tronox was publicly traded on the New
York Stock Exchange under the symbols TRX and TRX.B.  Since then,
Tronox has traded on the Over the Counter Bulletin Board under the
symbols TROX.A.PK and TROX.B.PK.  As of Dec. 31, 2008, Tronox
had 19,107,367 outstanding shares of class A common stock and
22,889,431 outstanding shares of class B common stock.

On Nov. 17, 2010, the Bankruptcy Court confirmed the Debtors'
First Amended Joint Plan of Reorganization under Chapter 11 of the
Bankruptcy Code, dated November 5, 2010.  Under the Plan, Tronox
reorganized around its existing operating businesses, including
its facilities at Oklahoma City, Oklahoma; Hamilton, Mississippi;
Henderson, Nevada; Botlek, The Netherlands and Kwinana, Australia.


UCI HOLDINGS: S&P Assigns 'B' Corporate Credit Rating
-----------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' corporate
credit rating to UCI Holdings Ltd., the entity that files
financial statements with the SEC and is the parent of UCI
International Inc. (the borrower) and United Components (the
operating company). The corporate credit rating was formerly
assigned to UCI International Inc. The outlook is positive.

"We are raising our issue-level rating on UCI International's
senior secured debt to 'B+' with a recovery rating of '2',
indicating our expectation of substantial (70% to 90%) recovery in
the event of a default," S&P related.

"The rating on UCI Holdings Ltd. reflects our view of the
automotive aftermarket company's business risk profile as fair,
and its financial risk profile as highly leveraged," said Standard
& Poor's credit analyst Nancy Messer. The privately held company
is owned by an affiliate of New Zealand private investor Graeme
Hart's Rank Group Ltd. Rank Group also owns Autoparts Holdings
Ltd. UCI is the parent company and guarantor of financings of
United Components Inc.

UCI's fair business risk profile reflects the highly competitive
character of the automotive aftermarket and the company's limited
revenue diversity, but also the more stable demand characteristics
of the aftermarket, the company's leading position in certain
product categories, and the company's recent adjusted margins of
about 18% (before depreciation). The company maintained solid
double-digit margins (before depreciation) during the recession
because of its market position and relatively stable demand.


VALLEJO, CA: Citizens Still Feeling Shockwaves From Bankruptcy
--------------------------------------------------------------
Michael Bathon at Bloomberg News reports that while Vallejo,
California emerged from court protection on Aug. 5, the city's
citizens are still feeling the ripple effects caused by its trip
through bankruptcy.

"I see prostitutes, pimps and drug dealers out my front window,"
resident Ruth Rooney, who moved to the city in 2005, said in a
telephone interview with Bloomberg's Alison Vekshin on Aug. 5.
"There's two on the corner right now."  Her property value has
dropped 70% in six years, she said.

Prostitution became a growth industry in Vallejo as the city
slashed its payroll, cutting police by a third, to 90 from 134.
The largest municipal bankruptcy in California since Orange
County's in 1994 has forced law enforcement to focus on violent
crime at the cost of quality-of-life issues, residents and
officials said.

"When you have half the number of people, you can only do half the
amount of work," Robert Nichelini, Vallejo's police chief, said in
an Aug. 15 telephone interview.  "Where it's taken a toll is the
lower-priority crimes, which have had to take a back seat."

Interim Fire Chief Paige Meyer said his department employs 67,
down from 122 in May 2008.  Three of eight stations were closed
about the time the city filed for bankruptcy.

The sharp reduction in city services has prompted residents to
fill the void, particularly in law enforcement.  Vallejo has 302
neighborhood-watch associations with 2,552 members, up from 10
groups with 60 people in 2009, said Tony Pearsall, executive
director of the Fighting Back Partnership, a Vallejo-based
nonprofit social-services group.

                     About Vallejo, California

Vallejo -- http://www.ci.vallejo.ca.us/-- is a city in Solano
County, California in the United States.  As of the 2000 census,
the city had a total population of 116,760.  It is located in the
San Francisco Bay Area on the northern shore of San Pablo Bay.  It
was named for General Mariano Guadalupe Vallejo.

Vallejo filed for protection under Chapter 9 of the U.S.
Bankruptcy Code (Bankr. E.D. Calif. Case No. 08-26813) on May 23,
2008, after it was unable to persuade labor unions to accept
salary concessions as the recession began cutting into local
government tax collections nationwide.  Marc A. Levinson, Esq.,
and Norman C. Hile, Esq., at Orrick, Herrington & Sutcliffe LLP in
Sacramento, California, represented the City.  The city estimated
$500 million to $1 billion in assets and $100 million to $500
million in debts in its petition.  According to Vallejo's
comprehensive annual report for the year ended June 30, 2007, the
city has $983 million in assets and $358 million in debts.

In August 2011, Vallejo was given green light to exit the
municipal reorganization.   The Chapter 9 plan restructures
$50 million of publicly held debt secured by leases on public
buildings.  Although the Plan doesn't affect pensions, it adjusts
the claims and benefits of current and former city employees.


VOTORANTIM CEMENT: Moody's Assigns 'Ba1' Sr. Sec. Credit Rating
---------------------------------------------------------------
Moody's Investors Service assigned Ba1 ratings to Votorantim
Cement North America, Inc.'s $450 million senior secured credit
facilities maturing in October 2014. The credit facilities consist
of $325 million term loan and $125 million revolving credit
facility. VCNA's Ba1 corporate family rating and Ba1 probability
of default rating were affirmed. The rating outlook is stable.

RATINGS RATIONALE

VCNA's Ba1 corporate family rating is supported by its status as
the largest supplier of cement in the Great Lakes region, solid
asset base, and the importance of VCNA to its parent, (Baa3 rated)
Votorantim Participa‡oes S.A., and its inclusion as a material
subsidiary in VPAR's notes documentation, which contains cross
default and cross acceleration language to its wholly-owned
subsidiaries' liabilities of more than US$25 million. However,
there are no formal guarantees in place. Over the past three years
VPAR has evidenced its support of VCNA in the form of intercompany
debt-to-equity conversions as well as common equity contributions.

VCNA's ratings are constrained by its currently weakened operating
margins, resulting from weakness in VCNA's construction end-
markets. The company's exposure to declining commercial
construction and economically weak geographic regions such as
Michigan and Florida may continue to constrain its credit profile.
Parent company support, and substantial debt reduction, partially
mitigate risks presented by VCNA's operating weakness.

The company's liquidity is supported by its senior secured
revolving credit facility and lack of meaningful debt maturities
in the intermediate term.

VCNA's stable rating outlook reflects the company's debt reduction
efforts, improvement in debt-to-EBITDA leverage, and the
importance of VCNA to its parent, VPAR, and the resultant
likelihood of continued significant operating and credit support
provided by VPAR should the need arise.

A ratings upgrade appears unlikely at present due to weak economic
conditions and operating results. Longer term an upgrade could
result from the upgrade of its parent's ratings, in conjunction
with improved stand-alone operating results, and strong credit
metrics.

VCNA's ratings could be negatively pressured should debt-to-EBITDA
increase beyond 3.5x, free-cash-flow turn negative, or operating
margins were to remain weak for an extended period of time.
Deterioration of the parent company's credit rating or diminution
of its support would also likely result in a ratings downgrade.

The principal methodology used in rating Votorantim Cement North
America Inc. was the Global Building Materials Industry
Methodology published in July 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.

Toronto-based Votorantim Cement North America is the North
American holding company for Votorantim Cimentos' operations in
the United States and Canada, operating primarily in the Great
Lakes and Florida regions. VCNA and VC are ultimately owned by the
Votorantim Group in Brazil. VCNA operates in 10 states in the U.S.
and 2 provinces in Canada and typically derives about two-thirds
of its revenues from the U.S. The company annually ships
approximately 5 million tons of cement, 6 million cubic meters of
concrete and 10 million tons of aggregates. In the LTM period
ending June 30, 2011 VCNA generated approximately $863 million in
revenues.

VCNA's ultimate parent, Votorantim Participa‡oes S.A. ("VPAR"
rated Baa3), is one of Brazil's largest conglomerates with a
diverse business portfolio that includes banking, metals and
mining, pulp and paper, cement, agribusiness, and chemicals


WASHINGTON MUTUAL: FDIC Must Face $10BB Deutsche Bank Suit
----------------------------------------------------------
Patrick Fitzgerald, writing for Dow Jones Newswires, reports that
Judge Rosemary M. Collyer of the U.S. District Court in
Washington, D.C., denied the Federal Deposit Insurance Corp.'s
request to dismiss a $10 billion lawsuit filed by a unit of
Deutsche Bank AG over soured pools of mortgage loans made by
Washington Mutual Bank before it was seized by regulators in 2008.

Deutsche Bank, as trustee for securitized pools of more than a
half million home loans, in 2009 sued both the FDIC and J.P.
Morgan Chase & Co., which bought WaMu after it was seized.
According to Dow Jones, the trusts at issue in the lawsuit were
the focus of an investigation by a Senate subcommittee, which
disclosed that WaMu's own internal reviews found that "loans
marked as containing fraudulent information had nevertheless been
securitized and sold to investors."

The Deutsche Bank suit contends either the FDIC or J.P. Morgan
should be held to account for losses in the parcels of WaMu's
allegedly fraudulent or poorly underwritten home loans.

According to Dow Jones, Judge Collyer said last week that it would
be "improvident and premature" to dismiss the lawsuit against the
FDIC until a decision is reached over whether the alleged WaMu
liabilities stayed with the FDIC or were transferred to J.P.
Morgan.

The FDIC contends JPMorgan took on the liabilities attached to the
mortgage loan securitization trusts when it bought WaMu.

Judge Collyer in May rejected JPMorgan's bid to dismiss the suit
in May.

                    About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- is a holding company for Washington Mutual
Bank as well as numerous non-bank subsidiaries.

Washington Mutual Bank was taken over on Sept. 25, 2008, by U.S.
government regulators.  The next day, WaMu and its affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  WaMu owns
100% of the equity in WMI Investment.  When WaMu filed for
protection from its creditors, it disclosed assets of
$32,896,605,516 and debts of $8,167,022,695.  WMI Investment
estimated assets of $500 million to $1 billion with zero debts.

WaMu is represented by Brian Rosen, Esq., at Weil, Gotshal &
Manges LLP in New York City; Mark D. Collins, Esq., at Richards,
Layton & Finger P.A. in Wilmington, Del.; and Peter Calamari,
Esq., and David Elsberg, Esq., at Quinn Emanuel Urquhart Oliver &
Hedges, LLP.  The Debtor tapped Valuation Research Corporation as
valuation service provider for certain assets.

Fred S. Hodara, Esq., at Akin Gump Strauss Hauer & Fled LLP in New
York and David B. Stratton, Esq., at Pepper Hamilton LLP in
Wilmington, Del., represent the Official Committee of Unsecured
Creditors.  Stephen D. Susman, Esq., at Susman Godfrey LLP and
William P. Bowden, Esq., at Ashby & Geddes, P.A., represent the
Equity Committee.  The official committee of equity security
holders also tapped BDO USA as its tax advisor. Stacey R.
Friedman, Esq., at Sullivan & Cromwell LLP and Adam G. Landis,
Esq., at Landis Rath & Cobb LLP in Wilmington, Del., represent
JPMorgan Chase, which acquired the WaMu bank unit's assets prior
to the Petition Date.

On Jan. 7, 2011, the U.S. Bankruptcy Court for the District of
Delaware entered a 107-page opinion determining that the global
settlement agreement, among certain parties including WMI, the
Federal Deposit Insurance Corporation and JPMorgan Chase Bank,
N.A., upon which the Plan is premised, and the transactions
contemplated therein, are fair, reasonable, and in the best
interests of WMI.  Additionally, the Opinion and related order
denied confirmation, but suggested certain modifications to the
Company's Sixth Amended Joint Plan of Affiliated Debtors that, if
made, would facilitate confirmation.

Washington Mutual has filed with the Bankruptcy Court a Modified
Sixth Amended Joint Plan and a related Supplemental Disclosure
Statement.  The Company believes that the Modified Plan has
addressed the Bankruptcy Court's concerns and looks forward to
returning to the Bankruptcy Court to seek confirmation of the
Modified Plan.

Carolyn Cairns was appointed as mediator in the WaMu proceedings.


WESTERN APARTMENT: Trustee Says Hotel May Be Auctioned Off
----------------------------------------------------------
Pacific Business News reports that the trustee for the case said a
beachfront hotel in Maui that is in bankruptcy may end up being
sold at auction.

The owner of the Maui Oceanfront Days Inn, San Diego-based Western
Apartment Supply & Maintenance Co., filed for Chapter 11
bankruptcy reorganization in April.

"A bankruptcy sale of the hotel is one of the obvious options that
I would have to consider," said the trustee, Joe Toy, who is also
president of Hospitality Advisors LLC.

The report says the 88-room Kihei hotel, which is comprised of six
two-story buildings and a 6,400-square-foot free-standing
restaurant -- Sarento's on the Beach -- is on land leased from the
state under a long-term lease that has 22 years left on it, Toy
said.

The hotel went on the market for sale at the end of 2010 for an
undisclosed price, but it is no longer listed.  An appraisal done
in June by The Hallstromn Group in Honolulu put the appraised
value of the leasehold property at $8.6 million, according to
court records.

                  About Western Apartment Supply

Western Apartment Supply & Maintenance Company owns and operates
the Days Inn Maui Oceanfront Inn at 2980 S. Kihei Road, Kihei,
Maui Hawaii.  It filed a Chapter 11 petition (Bankr. D. Hawaii
Case No. 11-00941) in Honolulu, Hawaii, on April 5, 2011.  Jeffery
S. Flores, Esq., and Jerrold K. Guben, Esq., at O'Connor Playdon &
Guben LLP, serve as the Debtor's bankruptcy counsel.  The Debtor
estimated assets and debts between $10 million and $50 million.

This is the third time Western Apartment has sought bankruptcy
protection.  It first filed a Chapter 11 petition (Case No. 04-
00072) in January 2004 then returned to Chapter 11 (Case No. 06-
00459) in July 2006.  Both cases were dismissed and Western
Apartment continued to operate the hotel.


WILLIAM LYON: Cut by S&P to 'D' on Missed Payment
-------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on William Lyon Homes (William Lyon) to 'D' from 'CCC-' and
downgraded the rating on the company's $77.8 million 7.5%
unsecured notes due 2014 to 'D' from 'C'. "The recovery rating on
the notes remains a '6', indicating our expectation for negligible
recovery (0%-10%)," S&P related.

William Lyon failed to make its scheduled Aug. 15, 2011, semi-
annual interest payment of $2.9 million on the company's
outstanding $77.8 million 7.5% 2014 unsecured notes due Feb. 15,
2014. The indenture governing the 2014 senior notes allows for a
30-day grace period. "However, we do not expect the company to
make the scheduled interest payment within five business days of
the due date. As a result, per our criteria, we have lowered the
issue rating for the 2014 notes to 'D'," S&P stated.

"Additionally, because we believe the company will fail to meet
its remaining obligations as they come due, we have lowered the
company's corporate credit rating to 'D' (rather than 'SD'). We
have left unchanged the 'C' ratings assigned to the company's two
other senior note issues ($66.7 million outstanding of 7.625%
unsecured notes due Dec. 15, 2012 and $138.8 million outstanding
of 10.75% unsecured notes due April 1, 2013). However, we would
lower these issue ratings to 'D', as well, if the company does not
make scheduled interest payments when due on Oct. 1, 2011 (for the
2013 notes) and Dec. 15, 2011 (for the 2012 notes), absent a prior
bankruptcy filing or completion of a distressed exchange," S&P
related.

"The company's corporate credit rating had previously been lowered
to 'SD' following the completion of a below-par tender offer
(which we viewed as tantamount to default) in June 2009," S&P
said.

California-based William Lyon is a privately held homebuilder with
communities in California, Nevada, and Arizona. These markets
remain among the hardest hit by the nation's severe housing market
correction. The company's secured lenders have previously granted
temporary waivers for noncompliance with a tangible net worth
covenant. "It is our understanding that management has been
in discussions with its lenders and advisors as regards a
refinancing, repayment, or restructuring of its obligations," S&P
related.

Ratings List

Ratings Lowered

William Lyons Homes                       Rating
                                        To        From
Corporate credit rating                 D/NM/-    CCC-/Neg/-

$77.8 mil. 7.5% notes due 2014          D         C
   Recovery rating                      6         6


WILLIAMS LOVE: Bank Lender Objects to Cash Collateral Use
---------------------------------------------------------
Williams, Love, O'Leary & Powers, P.C., is facing opposition on
its request to use cash collateral securing its obligations to its
lenders.

Sterling Savings Bank, which asserts a valid perfected first
priority lien on substantially all of the Debtor's assets, says it
hasn't had time to review the Debtor's request.  The Cash
Collateral Motion was filed during a time when the primary
bank officer responsible for the relationship with the Debtor is
on vacation.

The Bank also said the Debtor's proposed budget is "woefully
vague".  "[T]o call it skeletal would be too generous," the Bank
said.

Williams Love has told the Court it requires the use of cash
collateral to continue its operations, to continue to properly
service its clients, and to continue prosecuting its cases.

Williams Love has a national practice representing individuals in
medical products liability cases.  Its four shareholders are
attorneys licensed to practice law in the State of Oregon.  The
Debtor also employs 12 persons in support positions and relies on
several contract lawyers.

Williams Love and Michael L. Williams, its senior shareholder,
were featured in U.S. News Best Law Firms 2010 as one of the top
25 plaintiffs' mass tort firms and lawyers in the country.
Michael Williams has held an AV Preeminent rating from Martindale-
Hubbell for over 20 years.  Shareholder Linda C. Love also holds
an AV Preeminent rating from Martindale-Hubbell.  Williams Love is
a nationally-recognized leader in pharmaceutical mass tort
litigation, and has over 700 active cases involving serious
injuries caused by dangerous or defective medical products.

By their nature, medical product liability cases involve complex
scientific and legal issues.  The investigation and analysis of
the scientific and medical evidence relating to medical product
liability cases is complex, time consuming, and expensive.  Most
of Debtor's cases are pending in federal courts, where motion
practice, expert discovery, and expert testimony in advance of and
at trial are particularly costly.  Most of the costs advanced in
such cases are paid on an out-of-pocket basis by Williams Love
years before a case is tried or settled.  Typically, cases are not
settled until shortly before trial, after surviving Daubert
challenges and summary judgment motions.  The costs incurred by
Williams Love in the preparation of its active cases currently
exceed $3 million.  The inability to deduct such costs under the
tax laws, prior to the final resolution of such cases, has placed
the firm under severe financial strain.

By funding costs relating to the preparation of its cases, as well
as funding its ongoing operating expenses, Williams Love has
exhausted its credit line with Sterling Savings Bank, its primary
lender.  Although the firm is current on all payments to its
creditors -- including interest payments owed to Sterling Savings
Bank -- the firm is currently unable to fund its scheduled
principal-reduction payments to Sterling Savings Bank.

In addition, Williams Love is currently unable to timely pay an
obligation to one of its former contract lawyers -- who recently
initiated a collection action against the firm in Multnomah County
Circuit Court.

Many of Williams Love's cases have been or will be scheduled for
trial in 2011, 2012, and 2013.  The resulting revenues from their
successful resolution will enable Williams Love to continue its
national practice, service its clients and pay all of its
creditors in full.

Williams Love said it will suffer immediate and irreparable harm
if it is not permitted to use the cash collateral in which the
lenders claim an interest.  Without use of the cash collateral,
Williams Love said it may need to withdraw from its engagements
with its clients and the value of its assets will be materially
diminished.

Williams Love's secured lenders are Sterling Savings Bank and
Michael L. Williams, P.C.  Both Lenders have or claim a security
interest in all or substantially all of the Debtor's personal
property.

The firm's shareholders -- Michael L. Williams and Linda C. Love
-- have guaranteed the Debtor's indebtedness to Sterling Savings
Bank by (a) two Commercial Guarantys dated 9/14/08; and (b) two
Commercial Guarantys dated Sept. 14, 2009.  Michael L. Williams,
P.C. has guaranteed $3 million of the Debtor's indebtedness to
Sterling Savings Bank by its Commercial Guaranty dated Sept. 14,
2009.

Williams Love has prepared a 13-week cash collateral budget.

To provide adequate protection for the use of cash collateral,
Williams Love proposes that each lender be granted a replacement
security interest in and lien upon the Debtor's assets generated
or acquired from and after the Petition Date of the same category,
kind, character, and description as were subject to the lender's
lien on the Petition Date.  The adequate protection lien granted
to the lenders will not enhance or improve the position of any
lender.  The Debtor believes the going concern value of the assets
securing the debt owing to each lender exceeds the amount of the
debt owing to each lender.

Sterling Savings Bank also has objected to the Debtor's request to
pay prepetition wages, salaries, compensation, expenses, benefits,
and related taxes, and to continue employee benefits postpetition.

              About Williams Love O'Leary & Powers

Based in Portland, Oregon, Williams, Love, O'Leary & Powers, P.C.,
fdba Williams, Dailey & O'Leary, P.C., dba WLOP and WDO.com, filed
for Chapter 11 bankruptcy (Bankr. D. Ore. Case No. 11-37021) on
Aug. 14, 2011.  Judge Elizabeth L. Perris presides over the case.

In its petition, the Debtor estimated $10 million to $50 million
in assets and $1 million to $10 million in debts.  The petition
was signed by Michael L. Williams, its president.

Attorneys for the Debtor are:

          Albert N. Kennedy, Esq.
          Michael W. Fletcher, Esq.
          TONKON TORP LLP
          888 S.W. Fifth Avenue, Suite 1600
          Portland, OR 97204-2099
          Telephone: 503-221-1440
          Facsimile: 503-274-8779
          E-Mail: al.kennedy@tonkon.com
                  michael.fletcher@tonkon.com

Secured lender Sterling Savings Bank is represented by:

          David W. Criswell, Esq.
          BALL JANIK LLP
          101 SW Main St., Suite 1100
          Portland, OR 97204
          Telephone: (503) 228-2525
          Facsimile: (503) 295-1058
          E-mail: dcriswell@balljanik.com


WILLIAMS LOVE: Sec. 341 Creditors' Meeting Set for Sept. 19
-----------------------------------------------------------
The U.S. Trustee in Portland, Oregon, will convene a meeting of
creditors pursuant to Sec. 341(a) of the Bankruptcy Code in the
Chapter 11 case of Williams, Love, O'Leary & Powers, P.C. on
Sept. 19, 2011, at 1:30 p.m. at UST1, US Trustee's Office, in
Portland.

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.

Proofs of claim are due in the case by Dec. 19, 2011.

              About Williams, Love, O'Leary & Powers

Based in Portland, Oregon, Williams, Love, O'Leary & Powers, P.C.
-- fdba Williams, Dailey & O'Leary, P.C., dba WLOP and WDO.com --
has a national practice representing individuals in medical
products liability cases.  Williams Love is a nationally
recognized leader in pharmaceutical mass tort litigation, and has
more than 700 active cases involving serious injuries caused by
dangerous or defective medical products.

Michael L. Williams and Linda C. Love (husband and wife) own 72.7%
of the firm's outstanding shares, and are creditors of the firm.
Michael L. Williams, P.C. is wholly owned by Michael L. Williams
and is also a creditor of the firm.

The firm and Mr. Williams were featured in U.S. News Best Law
Firms 2010 as one of the top 25 plaintiffs' mass tort firms and
lawyers in the country.  Mr. Williams has held an AV Preeminent
rating from Martindale-Hubbell for over 20 years.  Ms. Love also
holds an AV Preeminent rating from Martindale-Hubbell.

Williams Love filed for Chapter 11 bankruptcy (Bankr. D. Ore. Case
No. 11-37021) on Aug. 14, 2011.  Judge Elizabeth L. Perris
presides over the case.  In its petition, the Debtor estimated $10
million to $50 million in assets and $1 million to $10 million in
debts.  The petition was signed by Michael L. Williams, its
president.

The Debtor is represented by Albert N. Kennedy, Esq., and Michael
W. Fletcher, Esq., at Tonkon Torp LLP.  Secured lender Sterling
Savings Bank is represented by David W. Criswell, Esq., at Ball
Janik LLP.


WILLIAMS LOVE: Hiring Robert G. Burt as Corporate Counsel
---------------------------------------------------------
Williams, Love, O'Leary & Powers, P.C., seeks authority from the
Bankruptcy Court to employ Robert G. Burt, P.C., as special
purpose counsel.  Burt will serve as the Debtor's general
corporate counsel but not to represent the Debtor in conducting
the case.  Burt served as the Debtor's general corporate counsel
prepetition.

Robert G. Burt, Esq., is the partner who will be primarily
responsible for providing these services.  Mr. Burt's hourly rate
is currently $460.

Burt disclosed that it has has received timely, monthly payments
totaling $481,958.10 from the Debtor for legal services since Aug.
21, 10.  On Aug. 8, 2011, prior to the filing of the Petition, the
Debtor paid: (a) $30,890.80 to Burt for legal services rendered
(fees and costs) during July 2011; and (b) $50,000 as a retainer
to Burt.  On Aug. 9, 2011, prior to the filing of the Petition,
Debtor made a $19,100 retainer payment to Burt.  On Aug. 12, 2011,
prior to the filing of the Petition, Burt applied $19,100 of the
retainer to prepetition services rendered (fees and costs) by Burt
during August 2011.

Burt said it has provided legal services during the past 18 months
to:

     -- Michael L. Williams (Officer, Director, Shareholder, and
        creditor of the Debtor);

     -- Linda C. Love (Director, Shareholder and creditor of the
        Debtor); and

     -- Michael L. Williams, P.C. (Brother-sister corporation and
        creditor of the Debtor)

During that period, Burt has received $72,989.41 from the
Affiliates.  Nothing is owed by the Affiliates to Burt for
prepetition services as of Aug. 12, 2011.

Michael L. Williams and Linda C. Love have guaranteed the Debtor's
indebtedness to Sterling Savings Bank by (a) two Commercial
Guarantys dated 9/14/08; and (b) two Commercial Guarantys dated
Sept. 14, 2009.  Michael L. Williams, P.C. has guaranteed $3
million of the Debtor's indebtedness to Sterling Savings Bank by
its Commercial Guaranty dated Sept. 14, 2009.

Burt may be reached at:

          Robert G. Burt, P.C.
          1515 S.W. Fifth Avenue
          Portland, OR 97201
          Tel: (503)223-3600
          Fax: (503)274-0778
          E-mail: rgb@burtfirm.com
          Web site: http://www.burtfirm.com

              About Williams, Love, O'Leary & Powers

Based in Portland, Oregon, Williams, Love, O'Leary & Powers, P.C.
-- fdba Williams, Dailey & O'Leary, P.C., dba WLOP and WDO.com --
has a national practice representing individuals in medical
products liability cases.  Williams Love is a nationally
recognized leader in pharmaceutical mass tort litigation, and has
more than 700 active cases involving serious injuries caused by
dangerous or defective medical products.

Michael L. Williams and Linda C. Love (husband and wife) own 72.7%
of the firm's outstanding shares, and are creditors of the firm.
Michael L. Williams, P.C. is wholly owned by Michael L. Williams
and is also a creditor of the firm.

The firm and Mr. Williams were featured in U.S. News Best Law
Firms 2010 as one of the top 25 plaintiffs' mass tort firms and
lawyers in the country.  Mr. Williams has held an AV Preeminent
rating from Martindale-Hubbell for over 20 years.  Ms. Love also
holds an AV Preeminent rating from Martindale-Hubbell.

Williams Love filed for Chapter 11 bankruptcy (Bankr. D. Ore. Case
No. 11-37021) on Aug. 14, 2011.  Judge Elizabeth L. Perris
presides over the case.  In its petition, the Debtor estimated $10
million to $50 million in assets and $1 million to $10 million in
debts.  The petition was signed by Michael L. Williams, its
president.

The Debtor is represented by Albert N. Kennedy, Esq., and Michael
W. Fletcher, Esq., at Tonkon Torp LLP.  Secured lender Sterling
Savings Bank is represented by David W. Criswell, Esq., at Ball
Janik LLP.


WILLIAMS LOVE: Taps Tonkon Torp as Bankruptcy Counsel
-----------------------------------------------------
Williams, Love, O'Leary & Powers, P.C., seeks Bankruptcy Court
permission to employ Tonkon Torp LLP to advise it on its debt
restructuring and render general legal services to the Debtor as
needed throughout the course of the Chapter 11 case.

Albert N. Kennedy, Esq., and Michael F. Fletcher, Esq., will lead
the engagement.

Tonkon Torp will be paid on an hourly basis in accordance with
Tonkon Torp's ordinary and customary hourly rates:

     Attorney Name                Status       Hourly Rate
     -------------                ------       -----------
     Albert N. Kennedy, Esq.      Partner          $450
     Michael W. Fletcher, Esq.    Partner          $325
     Spencer Fisher               Paralegal        $125
     Leslie Hurd Legal            Asst/Paralegal    $90

Tonkon Torp received a retainer on behalf of the Debtor in the
total amount of $75,000.  Prior to the filing of the bankruptcy
petition, Tonkon Torp applied a portion of that retainer for
prepetition services rendered prior to the Petition Date and the
Chapter 11 filing fee.  The remaining balance is held as a
retainer.

              About Williams, Love, O'Leary & Powers

Based in Portland, Oregon, Williams, Love, O'Leary & Powers, P.C.
-- fdba Williams, Dailey & O'Leary, P.C., dba WLOP and WDO.com --
has a national practice representing individuals in medical
products liability cases.  Williams Love is a nationally
recognized leader in pharmaceutical mass tort litigation, and has
more than 700 active cases involving serious injuries caused by
dangerous or defective medical products.

Michael L. Williams and Linda C. Love (husband and wife) own 72.7%
of the firm's outstanding shares, and are creditors of the firm.
Michael L. Williams, P.C. is wholly owned by Michael L. Williams
and is also a creditor of the firm.

The firm and Mr. Williams were featured in U.S. News Best Law
Firms 2010 as one of the top 25 plaintiffs' mass tort firms and
lawyers in the country.  Mr. Williams has held an AV Preeminent
rating from Martindale-Hubbell for over 20 years.  Ms. Love also
holds an AV Preeminent rating from Martindale-Hubbell.

Williams Love filed for Chapter 11 bankruptcy (Bankr. D. Ore. Case
No. 11-37021) on Aug. 14, 2011.  Judge Elizabeth L. Perris
presides over the case.  In its petition, the Debtor estimated $10
million to $50 million in assets and $1 million to $10 million in
debts.  The petition was signed by Michael L. Williams, its
president.

The Debtor's bankruptcy counsel may be reached at:

          Albert N. Kennedy, Esq.
          Michael W. Fletcher, Esq.
          TONKON TORP LLP
          888 S.W. Fifth Avenue, Suite 1600
          Portland, OR 97204-2099
          Telephone: 503-221-1440
          Facsimile: 503-274-8779
          E-Mail: al.kennedy@tonkon.com
                  michael.fletcher@tonkon.com

Secured lender Sterling Savings Bank is represented by David W.
Criswell, Esq., at Ball Janik LLP.


W.R. GRACE: Court OKs Settlement of CDGS' $130-Mil. PD Claims
-------------------------------------------------------------
Judge Judith Fitzgerald of the U.S. Bankruptcy Court for the
District of Delaware approved the agreement entered into by W.R.
Grace & Co. and its debtor affiliates in settlement of the State
of California Department of General Services' asbestos property
damage claims totaling $130,000,000.

The Settlement Amount, which totals $4,850,000, represents a final
liquidation and allowance of the Claims.  CDGS' Claims are on
account of damages caused to 16 California buildings allegedly
contaminated with asbestos, in connection with the Debtors'
business operations.

Notwithstanding the provisions of the Agreement, Judge Fitzgerald
ruled that neither the Asbestos Personal Injury Future Claimants'
Representative, nor the Asbestos Property Damage Future Claimant's
Representative, nor the Official Committee of Asbestos Personal
Injury Claimants, nor the Official Committee of Asbestos Property
Damage Claimants will be limited or restricted in its rights to
use, construe, offer or receive the Settlement for any purpose
permitted by applicable law and rule, with the PT FCR, the PD FCR,
the ACC, the PD Committee and the Parties preserving all rights
and objections with respect thereto, provided that in the event
the Settlement is terminated in accordance with its terms, neither
the PI FCR, nor the PD FCR, nor the ACC, nor the PD Committee may
use the Settlement to negotiate, effectuate, consummate or carry
out the Settlement, or to prosecute the request for the
Settlement's approval and obtain entry of a settlement order, in
or in connection with any proceeding to determine the allowed
amount of the Claims, including any estimation proceeding for
allowance or distribution purposes.

Judge Fitzgerald also ruled that the Bankruptcy Court will retain
jurisdiction to hear and determine all matters arising from or
relating to the implementation of the Order and the Settlement.

                     About W.R. Grace & Co.

Headquartered in Columbia, Maryland, W.R. Grace & Co. (NYSE:GRA)
-- http://www.grace.com/-- supplies catalysts and silica
products, especially construction chemicals and building
materials, and container products globally.

The Company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2001 (Bankr. D. Del. Case No. 01-01139).
David M. Bernick, P.C., Esq., at Kirkland & Ellis, LLP, and
Laura Davis Jones, Esq., at Pachulski Stang Ziehl & Jones,
LLP, represent the Debtors in their restructuring effort.  The
Debtors hired Blackstone Group, L.P., for financial advice.
PricewaterhouseCoopers LLP is the Debtors' accountant.  Stroock
& Stroock & Lavan, LLP, and Duane Morris, LLP, represent the
Official Committee of Unsecured Creditors.  The Creditors
Committee tapped Capstone Corporate Recovery LLC for financial
advice.  David T. Austern, the legal representative of future
asbestos personal injury claimants, is represented by Orrick
Herrington & Sutcliffe LLP and Phillips Goldman & Spence, PA.
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, and Marla
R. Eskin, Esq., at Campbell & Levine, LLC, represent the Official
Committee of Asbestos Personal Injury Claimants.  The Asbestos
Committee of Property Damage Claimants tapped Scott Baena, Esq.,
and Jay M. Sakalo, Esq., at Bilzin Sumberg Baena Price & Axelrod,
LLP, to represent it.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel, LLP, represents the Official Committee of
Equity Security Holders.

W.R. Grace and its debtor affiliates, with the support of the
Official Committee of Asbestos Personal Injury Claimants, the
Asbestos PI Future Claimants' Representative and the Official
Committee of Equity Security Holders, have submitted a proposed
Chapter 11 plan of reorganization.  The Chapter 11 plan is built
around an April 2008 settlement for all present and future
asbestos personal injury claims, and a subsequent settlement for
asbestos property damage claims.  The Plan confirmation hearing
wrapped up on Jan. 25.

Bankruptcy Creditors' Service, Inc., publishes W.R. Grace
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by W.R. Grace, W.R. Grace Co. - Conn. and their
affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000)


W.R. GRACE: J.M. Sutherland Named VP for Investor Relations
-----------------------------------------------------------
W.R. Grace & Co. (NYSE: GRA) announced that J. Mark Sutherland has
joined the company as Vice President, Investor Relations.

Mark joins Grace from The Lubrizol Corporation where he served as
Lubrizol's investor relations officer for six years.  Prior to
that, Mark was the general manager of a Lubrizol specialty
chemicals business.  Mark joined Lubrizol in 1981 and held a
number of business leadership roles in his 30-year career with the
company.  Mark holds a degree in chemistry from The College of
Wooster and an MBA from the Weatherhead School of Management at
Case Western Reserve University.

"We are delighted that Mark has joined Grace," said Hudson La
Force, Grace's Senior Vice President and Chief Financial Officer.
"He brings a wealth of industry and professional experience to his
role, and is well regarded in the investment community.  We are
looking forward to Mark making an immediate contribution to our
investor relations activities."

                     About W.R. Grace & Co.

Headquartered in Columbia, Maryland, W.R. Grace & Co. (NYSE:GRA)
-- http://www.grace.com/-- supplies catalysts and silica
products, especially construction chemicals and building
materials, and container products globally.

The Company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2001 (Bankr. D. Del. Case No. 01-01139).
David M. Bernick, P.C., Esq., at Kirkland & Ellis, LLP, and
Laura Davis Jones, Esq., at Pachulski Stang Ziehl & Jones,
LLP, represent the Debtors in their restructuring effort.  The
Debtors hired Blackstone Group, L.P., for financial advice.
PricewaterhouseCoopers LLP is the Debtors' accountant.  Stroock
& Stroock & Lavan, LLP, and Duane Morris, LLP, represent the
Official Committee of Unsecured Creditors.  The Creditors
Committee tapped Capstone Corporate Recovery LLC for financial
advice.  David T. Austern, the legal representative of future
asbestos personal injury claimants, is represented by Orrick
Herrington & Sutcliffe LLP and Phillips Goldman & Spence, PA.
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, and Marla
R. Eskin, Esq., at Campbell & Levine, LLC, represent the Official
Committee of Asbestos Personal Injury Claimants.  The Asbestos
Committee of Property Damage Claimants tapped Scott Baena, Esq.,
and Jay M. Sakalo, Esq., at Bilzin Sumberg Baena Price & Axelrod,
LLP, to represent it.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel, LLP, represents the Official Committee of
Equity Security Holders.

W.R. Grace and its debtor affiliates, with the support of the
Official Committee of Asbestos Personal Injury Claimants, the
Asbestos PI Future Claimants' Representative and the Official
Committee of Equity Security Holders, have submitted a proposed
Chapter 11 plan of reorganization.  The Chapter 11 plan is built
around an April 2008 settlement for all present and future
asbestos personal injury claims, and a subsequent settlement for
asbestos property damage claims.  The Plan confirmation hearing
wrapped up on Jan. 25.

Bankruptcy Creditors' Service, Inc., publishes W.R. Grace
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by W.R. Grace, W.R. Grace Co. - Conn. and their
affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000)


W.R. GRACE: To Expand Columbia, Maryland Global Headquarters
------------------------------------------------------------
W.R. Grace & Co. is planning a three-story, 80,000-square-foot
addition to its nearly 400,000-square-foot home campus in
Columbia, Maryland, Gazette.Net reports citing the Company's
spokeswoman, Andrea Greenan.

"It's in the planning and development phase," the news agency
quotes Ms. Greenan as saying.  "We don't have a firm timeline.  We
haven't gone for permitting yet, since we have to finish up plans
before going to permits."

According to Ms. Greenan, the addition likely will include a new
conference room, cafeteria, training center and welcome area, but
it's too early to say how many, if any, employees will be added to
the home base.

As previously reported, Grace has been a member of the Maryland
business community since the 1800s.  Around 500 employees are
based at the Company's global headquarters located in Howard
County in Columbia on a 166-acre campus.

Kevin James Shay of Gazette.Net says that the Company has an
additional 500 or so at a manufacturing plant at Curtis Bay.

"It gives us the opportunity for future growth," Ms. Greenan said
of the expansion.

                     About W.R. Grace & Co.

Headquartered in Columbia, Maryland, W.R. Grace & Co. (NYSE:GRA)
-- http://www.grace.com/-- supplies catalysts and silica
products, especially construction chemicals and building
materials, and container products globally.

The Company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2001 (Bankr. D. Del. Case No. 01-01139).
David M. Bernick, P.C., Esq., at Kirkland & Ellis, LLP, and
Laura Davis Jones, Esq., at Pachulski Stang Ziehl & Jones,
LLP, represent the Debtors in their restructuring effort.  The
Debtors hired Blackstone Group, L.P., for financial advice.
PricewaterhouseCoopers LLP is the Debtors' accountant.  Stroock
& Stroock & Lavan, LLP, and Duane Morris, LLP, represent the
Official Committee of Unsecured Creditors.  The Creditors
Committee tapped Capstone Corporate Recovery LLC for financial
advice.  David T. Austern, the legal representative of future
asbestos personal injury claimants, is represented by Orrick
Herrington & Sutcliffe LLP and Phillips Goldman & Spence, PA.
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, and Marla
R. Eskin, Esq., at Campbell & Levine, LLC, represent the Official
Committee of Asbestos Personal Injury Claimants.  The Asbestos
Committee of Property Damage Claimants tapped Scott Baena, Esq.,
and Jay M. Sakalo, Esq., at Bilzin Sumberg Baena Price & Axelrod,
LLP, to represent it.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel, LLP, represents the Official Committee of
Equity Security Holders.

W.R. Grace and its debtor affiliates, with the support of the
Official Committee of Asbestos Personal Injury Claimants, the
Asbestos PI Future Claimants' Representative and the Official
Committee of Equity Security Holders, have submitted a proposed
Chapter 11 plan of reorganization.  The Chapter 11 plan is built
around an April 2008 settlement for all present and future
asbestos personal injury claims, and a subsequent settlement for
asbestos property damage claims.  The Plan confirmation hearing
wrapped up on Jan. 25.

Bankruptcy Creditors' Service, Inc., publishes W.R. Grace
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by W.R. Grace, W.R. Grace Co. - Conn. and their
affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000)


ZOGENIX INC: Incurs $19.2 Million Net Loss in 2nd Quarter
---------------------------------------------------------
Zogenix, Inc., filed its quarterly report on Form 10-Q, reporting
a net loss of $19.2 million on $10.2 million of revenues for the
three months ended June 30, 2011, compared with a net loss of
$27.8 million on $5.1 million of revenues for the same period last
year.

The Company reported a net loss of $38.2 million on $19.3 million
of revenues for the six months ended June 30, 2011, compared with
a net loss of $49.3 million on $7.6 million of revenues for the
same period of 2010.

The Company's balance sheet at June 30, 2011, showed
$51.4 million in total assets, $58.5 million in total liabilities,
and a stockholders' deficit of $7.1 million.

As reported in the TCR on March 8, 2011, Ernst & Young LLP, in San
Diego, Calif., expressed substantial doubt about Zogenix'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 lack of sufficient working
capital.

A copy of the Form 10-Q is available at http://is.gd/zBPEl7

Zogenix, Inc. (NASDAQ: ZGNX), with offices in San Diego and
Emeryville, California, is a pharmaceutical company
commercializing and developing products for the treatment of
central nervous system disorders and pain.


* $3.55-Bil. in Bankruptcy Claims Switched Hands in July
--------------------------------------------------------
Katy Burne, writing for MarketWatch, reports that the value of
bankruptcy claims trading privately in the secondary market
reached $3.55 billion in July 2011, according to broker-dealer
SecondMarket Holdings Inc.  This is the most since July 2010, when
a record $12.7 billion of claims were exchanged, the report says.

The report says the surge is driven primarily by bets of a
favorable recovery from the Lehman Brothers bankruptcy estate,
pushing up the price of Lehman bankruptcy claims in recent days.
According to the report:

     -- claims tied to Lehman Brothers Holdings Inc., accounted
        for 782, or 58%, of the 1,340 transfers recorded in July.
        This is significantly higher than the year-to-date
        averages: 951 for total monthly claims transfers, or 483
        per month just for Lehman Brothers Holdings; and

     -- Lehman Brothers Holdings' 5.625% bonds due 2013 are now
        trading around 24 cents on the dollar, up from 22 cents in
        the first week of August -- mirroring a rise in Lehman
        Brothers Holdings claims prices to around 20 cents from
        the high teens.

The report says claims tied to Bernard Madoff's Ponzi scheme don't
show up in SecondMarket records due to a court order preventing
public disclosure, but are thought to be actively traded.  Madoff
claims have increased from about 30 cents on the dollar to about
70 cents in recent months, one head of distressed trading at a
global investment bank in New York told MarketWatch.

MarketWatch also notes the July's volumes were also notable for
the breadth of bankruptcy cases involved and the record number of
first-time names trades.  Among the record 15 newly documented
names were restaurant franchisor Perkins & Marie Callender Inc.,
which filed for bankruptcy protection in June and accounted for
155 trades totaling $227,000, and hearing-aid maker HearUSA Inc.,
with 40 transfers totaling $338,000.

The report relates only two other companies, Lehman Brothers Inc.
-- Lehman's broker-dealer -- and low-cost airline Mesa Air Group
Inc., have seen more than $1 billion of transfers since
SecondMarket's recordkeeping began in 2008, with $7.42 billion and
$1.53 billion, respectively.

According to the report, SecondMarket said about one-third of the
$3.4 billion Lehman Brothers Holdings claims transferred last
month were bought and re-sold by trading desks at bulge-bracket
banks, down from a record $5.6 billion a year ago.  The claims
averaged $4.4 million apiece.

The report also relates that since Lehman collapsed in late 2008,
some 6,277 Lehman Brothers Holdings claims have traded hands for a
total of $50 billion.


* Newspapers Edit Down Outlooks After Discouraging Year
-------------------------------------------------------
Dow Jones' DBR Small Cap reports that newspaper companies are
resetting their advertising expectations after a discouraging
first half of the year, a shift that could spur a return to more
of the job cuts and other belt-tightening moves that spread
through the industry in 2008 and 2009.


* Credit Markets Remain Friendly, Morgan Joseph Report Says
-----------------------------------------------------------
Despite recent market turmoil, U.S. credit markets remain
friendlier than a year ago, according to the latest issue of the
Financial Quarterly report issued by the Financial Restructuring
Group of Morgan Joseph TriArtisan LLC.

"It feels like we've seen this movie before, with a pull back in
loan volumes and sovereign debt concerns, it very well could be
the late Spring of 2010," observes James D. Decker, Managing
Director and Head of the Restructuring Group.  "This go-around,
the market continues to wrestle with the additional challenges
posed by the debt ceiling, the S&P downgrade of U.S.
creditworthiness, and general U.S. political strife.  However,
despite this bit of extra negative news, credit markets remain
much friendlier than a year ago."

Although loan volumes have waned due to macro concerns, the report
adds that pricing pressure remains on lenders.  Meanwhile
borrowers' EBITDA growth remains impressive and the default rate
remains well below historical levels.  Moreover, despite lower
capital inflows, loans continued to increase their share of
leveraged financings and second lien loan volumes reached their
highest levels since the 2007 market peak.

Among other observations:

    * Middle market borrowers are able to access "a turn" more
leverage than was available in December of 2010, and, although not
the sole driver, this additional leverage has helped increase
valuations and reduce equity checks in M&A transactions.

    * A crumbled maturity wall and completion of simple re-pricing
deals means the loan market today is being tapped for de novo
transactions at a much greater clip, with 70% of all issuances in
the July pipeline scheduled for de novo transactions (M&A and
LBO).  This compares to March 2011 when that figure was less than
40% and 6 out of every 10 deals were in support of dividend recap
or re-pricing/refinancing.

    * The maturity wall at large has crumbled, but a lag in
capital markets recovery for smaller credits means more than a
quarter of middle market borrowers have 2013 or earlier maturities
to address.  Regarding which, Mr. Decker adds, "Accordingly, it's
no surprise we've seen numerous funds, BDCs, and other vehicles
come to the market lately with a focus on middle market lending.
These funds have recognized that there may indeed be more activity
near term in the middle market, as borrowers still require capital
to address maturities in addition to M&A and growth related
objectives."

    * Expectation of continuing tailwinds for deal volumes over
the next 12 to 18 months, resulting from a supportive credit
market inspiring private equity investors to seek exits following
a few years of a closed market that resulted in pent up selling
pressure and increased investment inventory.

    * As pricing in the broader market continues to retract, DIP
(debtor-in-possession) loans have been the exception and are being
priced 100 to 200 bps higher than last year as pre-petition
secured lenders exert their leverage to achieve premium pricing.

    * Despite a resurgence in the CLO market in the second quarter
2011, it was not at a level to increase the CLO assets under
management as a percentage of the leveraged loan market.  With
most of the outstanding capital due to be returned to investors in
the next 18 to 24 months, assets under management in CLO funds
will continue to shrink as a percentage of the overall leveraged
loan market.

    * Asset based lending (ABL) has become the preferred route for
banks looking to grow commercial assets and dilute their share of
real estate based loans.  However, with new finance companies and
lending funds pushing structures, banks are having to comply in
order to hold on to market share.  For borrowers, with spreads
starting in the 200 range the norm, and convent tests extremely
limited, the time appears right to access inexpensive and flexible
capital.

                      About Morgan Joseph

Morgan Joseph TriArtisan LLC -- http://www.mjta.com-- is an
investment bank engaged in providing financial advice, capital
raising and private equity investing.  The firm's services include
mergers, acquisitions and restructuring advice, in addition to
private placements and public offerings of equity and debt, as
well as research and trading services for institutional clients.


* Ex-Kaye Scholer Partner Seeks Dismissal of False Oath Charge
--------------------------------------------------------------
Ian Thoms at Bankruptcy Law360 reports that a former Kaye Scholer
LLP partner asked a Utah federal court Thursday to dismiss one
count in his bankruptcy fraud case, saying the prosecution's
criminal theory rests on unconstitutionally vague civil rules.

Law360 relates that prosecutors claim Stephen E. Garcia committed
a false oath when he neglected to disclose that he was conducting
numerous business deals with an investment firm that had a hefty
stake in his bankruptcy client, defunct steel mill Geneva Steel
Holdings Corp.


* Upcoming Meetings, Conferences and Seminars
---------------------------------------------

Oct. 14, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     NCBJ/ABI Educational Program
        Tampa Convention Center, Tampa, Fla.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. __, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     International Insolvency Symposium
        Dublin, Ireland
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 25-27, 2011
  TURNAROUND MANAGEMENT ASSOCIATION
     Hilton San Diego Bayfront, San Diego, CA
        Contact: http://www.turnaround.org/

Dec. 1-3, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     23rd Annual Winter Leadership Conference
        La Quinta Resort & Spa, La Quinta, Calif.
           Contact: 1-703-739-0800; http://www.abiworld.org/

April 3-5, 2012
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Spring Conference
        Grand Hyatt Atlanta, Atlanta, Ga.
           Contact: http://www.turnaround.org/

Apr. 19-22, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Annual Spring Meeting
        Gaylord National Resort & Convention Center,
        National Harbor, Md.
           Contact: 1-703-739-0800; http://www.abiworld.org/

July 14-17, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Southeast Bankruptcy Workshop
        The Ritz-Carlton Amelia Island, Amelia Island, Fla.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Aug. 2-4, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Mid-Atlantic Bankruptcy Workshop
        Hyatt Regency Chesapeake Bay, Cambridge, Md.
           Contact: 1-703-739-0800; http://www.abiworld.org/

November 1-3, 2012
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Annual Convention
        Westin Copley Place, Boston, Mass.
           Contact: http://www.turnaround.org/

Nov. 29 - Dec. 2, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Winter Leadership Conference
        JW Marriott Starr Pass Resort & Spa, Tucson, Ariz.
           Contact: 1-703-739-0800; http://www.abiworld.org/

April 10-12, 2013
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Spring Conference
        JW Marriott Chicago, Chicago, Ill.
           Contact: http://www.turnaround.org/

October 3-5, 2013
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Annual Convention
        Marriott Wardman Park, Washington, D.C.
           Contact: http://www.turnaround.org/



                           *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers"
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors" Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Howard C. Tolentino, Joseph Medel C. Martirez, Denise
Marie Varquez, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R.
Villacampa, Sheryl Joy P. Olano, Carlo Fernandez, Christopher G.
Patalinghug, and Peter A. Chapman, Editors.

Copyright 2011.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
Beard at 240/629-3300.


                  *** End of Transmission ***