TCR_Public/110825.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

            Thursday, August 25, 2011, Vol. 15, No. 235

                            Headlines

ABCLD HOLDINGS: Files Schedules of Assets and Liabilities
ACCURIDE CORP: S&P Affirms 'B' Corporate Credit Rating
ALABAMA AIRCRAFT: To Sell Operating Assets to Kaiser
ALEXANDER PROPERTY: Court Wants Plan Outline Revised
ALLIED IRISH: Exits NYSE Listing as Ireland Hikes Stake to 99.8%

AMARU INC: Incurs $353,000 Second Quarter Net Loss
ANDRONICO'S MARKETS: Case Summary & 20 Largest Unsecured Creditors
ARK DEVELOPMENT: Counsel Quits, Northern Trust Objects
ARKANOVA ENERGY: Reports $405,000 Net Income in June 30 Quarter
AUGUSTA HOUSING: S&P Raises Rating on Series 2004 Bonds to 'BB+'

BANNING LEWIS: City Proposes Two-Pronged Way to Settle Issue
BARZEL INDUSTRIES: Court Approves Disclosure Statement
BC ROGERS: Court Rules in Lawsuit Against CIT Group
BEAR VALLEY: Can Hire Christopher P. Walker as Counsel
BERNARD L. MADOFF: Trustee Defends 'Clawbacks' in District Court

BLOCK 106: Can Hire Cole Schotz as Bankruptcy Counsel
BMB MUNAI: Reports $4.3 Million Net Income in June 30 Quarter
BOWE BELL: Court Directs U.S. Trustee to Appoint Retiree Committee
BROWNIE'S MARINE: Incurs $2.4 Million Second Quarter Net Loss
CAMPANA FAMILY: Reaches Deal With Creditors, Asks for Dismissal

CAMTECH PRECISION: R&J Wants Plan Filing Exclusivity Until Oct. 14
CAMTECH PRECISION: Regions Files Limited Objection to Avstar Plan
CAPITAL HOME: Seeks Dismissal as Lenders Seize Properties
CARBON RESOURCES: Court OKs Substitute Counsel for M.J. Keefe
CARBON RESOURCES: Files New Plan Disclosures After Denial

CARIBE MEDIA: Files Restructuring Plan Giving Lenders Equity
CASA BELLA: Voluntary Chapter 11 Case Summary
CATHOLIC CHURCH: Milw. Lease Decision Deadline Moved to Oct. 31
CATHOLIC CHURCH: Court OKs Deposition of Milwaukee Bishops
CATHOLIC CHURCH: Vatican Releases Documents in Sex Abuse Case

CAVIATA ATTACHED: Wants Until Aug. 30 to File Schedules
CAVIATA ATTACHED: Seeks to Hire Alan R. Smith as Counsel
CENTER FOR SYSTEMS: Case Summary & 20 Largest Unsecured Creditors
CENTRAL FALLS, R.I.: Receiver Fires 2 Dept. Heads, Solicitor
CHEMTURA CORP: Settles Coal Tar Pitch Claims for $4.7 Million

CIE COOPERATIVE: Trustee's Suit Over T-Shirts Goes to Trial
CIMA, L.L.C.: Case Summary & 6 Largest Unsecured Creditors
CLARK THOMAS: Case Summary & 20 Largest Unsecured Creditors
CLAYTON COUNTY: S&P Lowers Rating on Housing Bonds to 'B-'
CLEAR CREEK: Seeks to Tap Allen Matkins as Reorganization Counsel

CLEAR CREEK: Seeks to Hire Amy N. Tirre as Local Counsel
COLLEGE CORNER: Case Summary & 14 Largest Unsecured Creditors
COINSTAR INC: S&P Cuts Rating on $200-Mil. Senior Notes to 'BB-'
COMMANDER PREMIER: Joel Hartstone Pleads for Public Support
CONFORCE INTERNATIONAL: Incurs US$661,500 Net Loss in June Qtr.

CORUS BANKSHARES: Files Plan Supplement
CROWN ASPHALT: Case Summary & 20 Largest Unsecured Creditors
DEBT RELIEF: FTC to Close Firm Over Scam Claims
DECOR PRODUCTS: Posts US$1 Million Second Quarter Net Income
DELPHI CORP: DPH Files 2nd Quarter Report With Bankr. Court

DELPHI CORP: Dist. Court Denies Paul Free's Motion for Judgment
DELPHI CORP: Congressional Panel Examines Delphi Pension Matters
DESERT OASIS: Taps Swecker & Company for Accounting, Tax Services
DSI HOLDINGS: Can Hire DJM Realty as Real Estate Consultants
DSI HOLDINGS: Committee Can Retain Lead & Local Counsel, Advisor

EAGLE INDUSTRIES: To Seek Approval of Plan Disclosures Sept. 22
EAGLE WINDOWS: Buyer Liable in Post-Sale Tort Action
ED HOLMES: Case Summary & 20 Largest Unsecured Creditors
EDIETS.COM INC: Files Form 10-Q, Incurs $851,000 Q2 Net Loss
EINSTEIN MOOMJY: Owners Aims for Bankruptcy Sale to Keep Biz.

EINSTEIN MOOMJY: Case Summary & 20 Largest Unsecured Creditors
ELEPHANT & CASTLE: Motion for Extension of Response Deadlines OK'd
ELEPHANT & CASTLE: Panel Can Retain Goulston & Storss as Counsel
EUROWALK RSW: Case Summary & 20 Largest Unsecured Creditors
EMPRESAS MARTINEZ: Case Summary & 20 Largest Unsecured Creditors

EXTENDED STAY: Trustee Fights $8BB Blackstone Suits Consolidation
FIRST NAT'L BANK: FDIC Sues Former Executives Over Losses
FIVE RIVERS: Case Summary & 19 Largest Unsecured Creditors
GATEWAY HOTEL: Can Continue Using Cash Collateral Until Oct. 31
GENERAL MOTORS: Ch. 11 Judge Backs Away from $450MM Union Feud

HARVEST OAKS: Motion for Relief of Stay on Shopping Center Denied
HASSEN IMPORTS: City of West Covina Wants Asset Recovered
HUDSON HEALTHCARE: Committee Wants Sills Cummis as Counsel
IMUA BLUEHENS: Can Hire O'Connor Playdon as General Counsel
INNKEEPERS USA: Objects to Cerberus' $20-Mil. Refund Request

INTL RARITIES: Case Summary & 20 Largest Unsecured Creditors
JAZS PIZZA: Case Summary & 8 Largest Unsecured Creditors
J.C. EVANS: Can Hire Counsel and Financial Advisors
JAMESTOWN MALL: Gets 90-Day Extension to Satisfy $2 Million Loan
JEFFREY J BERTRAND: Claims Over Tug Boat Non-Dischargeable

KEYUAN PETROCHEMICALS: Gets NASDAQ Delinquency Notice
KOREA TECHNOLOGY: Case Summary & 18 Largest Unsecured Creditors
KT SPEARS: Taps Professional Realty to Market Real Property
LA VILLITA: ORIX Capital Wants Disclosure Statement Disapproved
LEGENDALE LIMITED: Case Summary & Largest Unsecured Creditor

LYMAN LUMBER: Committee Taps Fafinsky Mark as Bankruptcy Counsel
MADELINE P CORP: Case Summary & 10 Largest Unsecured Creditors
MAJESTIC CAPITAL: Seeks to Extend Exclusivity to Dec. 28
MCDONALD BROTHERS: Case Summary & 20 Largest Unsecured Creditors
MIRABILIS VENTURES: Judge Accepts Dismissal of Malpractice Suit

MOMENTA INC: Court Rejects Admin. Claim for Unreceived Goods
NATIONAL CENTURY: NY Pension Funds' Claims Dismissed
NATIONAL CENTURY: Firm Says Bankr. Ct. Has Authority vs. Stein
NATIONAL CENTURY: VI/XII Trust Files Second Quarter Report
NATIONAL CENTURY: UAT Files Second Quarter Report

NET ELEMENT: Incurs $1.7 Million Second Quarter Net Loss
NORTEL NETWORKS: Judges OK Price Cut for Internet Phone Business
NORTHEAST THEATRE: Files for Chapter 7 Bankruptcy Protection
NOVEMBER 2005: Hearing on Sale Procedures Continued to Sept. 8
NOVEMBER 2005: Adjusts Terms of Odyssey's Hiring Amid Objections

NOVEMBER 2005: Lenders Dispute Use of Collateral to Pay Lawyers
OLD COLONY: Plan Outline Hearing Scheduled for Sept. 1
OLD CORKSCREW: Can Access BMO Harris Cash Collateral Until Sept. 1
OLSEN AGRICULTURAL: Court OKs Clyde Hamstreet as Consultant
PEARLAND SUNRISE: Hearing on Case Dismissal Plea Set for Sept. 19

PJ FINANCE: Court OKs CBRE Capital as Financial Advisor
PMI MORTGAGE: S&P Revises Counterparty Credit Rating From 'CCC-'
PTM TECHNOLOGIES: Barred From Filing Claim in Parent's Case
PURADYN FILTER: Incurs $451,500 Second Quarter Net Loss
QIS KNOXVILLE: Case Summary & 8 Largest Unsecured Creditors

RAY ANTHONY: Motion to Prohibit Cash Collateral Use Withdrawn
RED DOOR: Voluntary Chapter 11 Case Summary
RENEGADE HOLDINGS: PTM's Claim Strategy Backfires
RIVER ROCK: Moody's Lowers CFR to Caa2; Further Downgrade Likely
ROUND TABLE: Court OKs Boylan Brown as ESOP's Co-Counsel

ROUND TABLE: Franchisees Say Exit Plan is 'Dead On Arrival'
RUSS COMPANIES: $52 Million in Inventory to Be Liquidated
SAND HILL: Court Confirms Chapter 11 Plan of Reorganization
SCOTT OLSON: Case Summary & 3 Largest Unsecured Creditors
SEAHAWK DRILLING: Parent Objects to Amended Ch. 11 Plan

SHAMOCK-SHAMROCK: Taps George Gingo as Litigation Attorney
SHENGDATECH INC: Court Enters Temporary Restraining Order
SHENGDATECH INC: Taps Michael Kang as Chief Restructuring Officer
SILVER FOX: Voluntary Chapter 11 Case Summary
SOUTH EDGE: Meritage Homes Faces $13-Mil. Suit Over Project Loan

SPECTRAWATT INC: Plans Bankruptcy Auction of Assets on Sept. 28
SUNVALLEY SOLAR: Reports $208,610 Net Income in Second Quarter
SWORDFISH FINANCIAL: Incurs $235,500 Net Loss in Second Quarter
TEAM NATION: Posts $861,900 Net Income in Second Quarter
TELECONNECT INC: Incurs $948,000 Net Loss in June 30 Quarter

TELESERVICES GROUP: Judge Expresses Frustration Over Stern Ruling
TELIPHONE CORP: Reports $1.7-Mil. Net Income in June 30 Quarter
TETON AIR: Files Schedules of Assets and Liabilities
TEXAS RANGERS: Tom Hicks Hits Back on Lawsuit by Administrator
THINK3 INC: Taps Asaha Law Offices for Japanese Proceeding

THINK3 INC: Court Approves Federico Cornia for Italian Case
TIMBER SPECIALISTS: Case Summary & 20 Largest Unsecured Creditors
TONGJI HEALTHCARE: Incurs $84,000 Net Loss in Second Quarter
TRADE UNION: Plan Confirmation Hearing Scheduled for Sept. 2
TRADE UNION: Proposes Settlement with Bank Group Lenders

TRANSAX INTERNATIONAL: Posts $8.8-Mil. Second Quarter Net Income
TRANSWEST RESORT: Creditors Object to Owner's Disclosure Statement
TRANT MANOR: Judge Mann Closes Chapter 11 Bankruptcy Case
TRISTAR FIRE: Case Summary & 20 Largest Unsecured Creditors
TROPICANA ENTERTAINMENT: Icahn Settles Casino Trademark Suit

TROPICANA ENTERTAINMENT: LandCo Parties Settle With Lazard Freres
UINTAH BASIN: Case Summary & Largest Unsecured Creditor
UNILAVA CORPORATION: Incurs $417,900 Net Loss in Second Quarter
UNITED CONTINENTAL: Court Reopens Two UAL Chapter 11 Cases
UNITED CONTINENTAL: To Pay $3-Mil. to Ex-CIO Halbert

UNITED CONTINENTAL: Sick Calls Cancelled 24 Continental Flights
UNITED STATES OIL: Incurs $665,000 Net Loss in Second Quarter
V-R PROPERTY: Case Summary & 20 Largest Unsecured Creditors
WASHINGTON MUTUAL: Court Signals Plan Ruling Is Near
WASHINGTON MUTUAL: Judge Keeps FDIC in Deutsche Bank's $10BB Suit

WAXESS HOLDINGS: Incurs $2 Million Second Quarter Net Loss
WJO INC: Exclusive Plan Filing Period Extended to Sept. 30
W.R. GRACE: Still Addressing 100+ Asbestos Claims
W.R. GRACE: Cryovac Suits vs. Sealed Air Stayed

* FDIC's 'Problem' List Shrinks for First Time Since 2006
* Supreme Court Ruling Curtails Power of Bankruptcy Judges

* Cohen & Grigsby Adds Christine Bowers to Business and Tax Group
* Paul Hastings Lures Shearman Bankruptcy, Financing Pro

* Recent Small-Dollar & Individual Chapter 11 Filings


                            *********


ABCLD HOLDINGS: Files Schedules of Assets and Liabilities
---------------------------------------------------------
ABCLD Holdings, LLC, filed with the U.S. Bankruptcy Court for the
Northern District of Texas its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $66,579,892
  B. Personal Property                    $0
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $40,000,000
  E. Creditors Holding
     Unsecured Priority
     Claims                                          $194,783
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                          $260,131
                                 -----------      -----------
        TOTAL                    $66,579,892      $40,454,914

                       About ABCLD Holdings

Dallas, Texas-based ABCLD Holdings is a Nevada limited liability
company created on March 18, 2011, to acquire properties owned by
FRE Real Estate Inc. in Texas for $59.8 million.  All of the
capital stock of ABCLD Holdings is owned by ABC Land &
Development, Inc., which is a corporation owned by Ronald Akin and
DTS Holdings, LLC.  FRE filed for bankruptcy Jan. 4, 2011.  The
case was dismissed March 1, 2011.

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

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

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


ACCURIDE CORP: S&P Affirms 'B' Corporate Credit Rating
------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating and stable outlook on Evansville, Ind.-based
Accuride Corp. "We also affirmed the 'B' issue-level rating and
'3' recovery rating to Accuride's issuance of $310 million senior
secured notes," S&P related.

"The affirmation of our corporate credit rating on Accuride Corp.
reflects our view that the company's leverage and liquidity will
stay in line with expectations for the current rating--adjusted
debt to EBITDA below 5x and liquidity of over $50 million," said
Standard & Poor's credit analyst Lawrence Orlowski. "Accuride
Corp.'s sales and profitability continue to benefit from strong
commercial vehicle demand. Nevertheless, we expect free cash flow
to be negative in 2011 as company raises the level of capital
expenditures to strengthen the organization, fix the Gunite
business, improve its steel wheel business, grow its aluminum
wheel business and, potentially, pursue strategic opportunities."

"Based on these developments, we believe Accuride's debt to
EBITDA, including our adjustments for operating leases and
postretirement benefits, should remain below 5x by the end of
2011, compared with 4.7x at the end of June, 2011. We also believe
EBITDA interest coverage could be more than 2.8x by the end of
2011. We do not expect the company to generate positive free cash
flow in 2011 because of higher capital spending. These measures
are consistent with our financial risk assessment of highly
leveraged, under our criteria," S&P added.


ALABAMA AIRCRAFT: To Sell Operating Assets to Kaiser
----------------------------------------------------
Samuel Howard at Bankruptcy Law360 reports that Alabama Aircraft
Industries Inc. agreed Monday to sell its operating assets to
Kaiser Aircraft Industries Inc. for $500,000 in cash and up to
$30 million in proceeds from potential litigation.

After failing to elicit much interest from would-be buyers,
Alabama Aircraft settled on Kaiser's offer as the only way to
continue as a going concern and preserve hundreds of jobs,
according to Law360.

                       About Alabama Aircraft

Birmingham, Alabama-based Alabama Aircraft Industries Inc. --
http://www.alabamaaircraft.com/-- provides aircraft maintenance
and modification services for the U.S. government and military
customers.  Its 190-acre facility, including its corporate
offices, is located at the Birmingham International Airport.  The
Company currently has 92 salaried employees and 234 hourly
employees.  About 251 hourly employees were furloughed since
Jan. 1, 2010.

Alabama Aircraft filed for Chapter 11 bankruptcy protection
(Bankr. D. Del. Case No. 11-10452) on Feb. 15, 2011.  Two
subsidiaries also filed -- Alabama Aircraft Industries, Inc.-
Birmingham (Case No. 11-10453) and Pemco Aircraft Engineering
Services, Inc. (Case No. 11-10454).

The Company said the primary goal of the Chapter 11 filing is
to address long-term indebtedness and, in particular, long-term
pension obligations under the terms of its pension plan.  The
Company said it would likely cease operations absent the
elimination of its obligations under the pension plan.  The
Company owes $68.5 million to the Pension Benefit Guaranty Corp.

Joel A. Waite, Esq., and Kenneth J. Enos, Esq., at Young, Conaway,
Stargatt & Taylor, in Wilmington, Delaware, serve as counsel to
the Debtors.

Alabama Aircraft estimated assets and debts of $1 million to
$10 million as of the Chapter 11 filing.

Hoping for a sale of the business, AAI canceled an auction for
lack of an acceptable bid.  AAI sought a buyer after being
unable to locate an equity investor.


ALEXANDER PROPERTY: Court Wants Plan Outline Revised
----------------------------------------------------
Bankruptcy Judge Thomas J. Tucker declined to grant preliminary
approval of the disclosure statement contained in Alexander
Property Investments, LLC's Combined Disclosure Statement and Plan
of Reorganization filed Aug. 2, 2011, citing problems that the
Debtor must correct.  A copy of the Court's Aug. 11, 2011 Order is
available at http://is.gd/baHIQsfrom Leagle.com.  The revised
disclosure statement was due to be filed Aug. 16.

Alexander Property Investments, LLC, in Troy, Michigan, filed for
Chapter 11 (Bankr. E.D. Mich. Case No. 11-52624) on May 2, 2011.
The law office of Morris B. Lefkowitz, Esq. --
morris.lefkowitz@yahoo.com -- serves as bankruptcy counsel.  In
its schedules, the Debtor disclosed $5,500,000 in assets and
$9,782,119 in debts.  The petition was signed by Hana Karcho-
Polselli, its member.


ALLIED IRISH: Exits NYSE Listing as Ireland Hikes Stake to 99.8%
----------------------------------------------------------------
Allied Irish Banks filed with the U.S. Securities and Exchange
Commission a Form 25 regarding the removal from listing or
registration of its American Depositary Shares, each representing
ten ordinary shares, par value EUR 0.01 per share, from the New
York Stock Exchange.

The Board of Directors of the Company made the decision in light
of the increase in the Irish Government's shareholding to 99.8% on
July 27, 2011, and the savings in costs and administrative efforts
that would result from the delisting and any subsequent
deregistration under the Exchange Act.

                   About Allied Irish Banks, p.l.c.

Allied Irish Banks, p.l.c. -- http://www.aibgroup.com/-- is a
major commercial bank based in Ireland.  It has an extensive
branch network across the country, a head office in Dublin and a
capital markets operation based in the International Financial
Services Centre in Dublin.  AIB also has retail and corporate
businesses in the UK, offices in Europe and a subsidiary company
in the Isle of Man and Jersey (Channel Islands).

Since the onset of the global and Irish financial crisis, AIB's
relationship with the Irish Government has changed significantly.

As at Dec. 31, 2010, the Government, through the National Pension
Reserve Fund Commission ("NPRFC"), held 49.9% of the ordinary
shares of the Company (the share of the voting rights at
shareholders' general meetings), 10,489,899,564 convertible non-
voting ("CNV") shares and 3.5 billion 2009 Preference Shares.  On
April 8, 2011, the NPRFC converted the total outstanding amount of
CNV shares into 10,489,899,564 ordinary shares of AIB, thereby
increasing its holding to 92.8% of the ordinary share capital.

In addition to its shareholders' interests, the Government's
relationship with AIB is reflected through formal and informal
oversight by the Minister and the Department of Finance and the
Central Bank of Ireland, representation on the Board of Directors
(three non-executive directors are Government nominees),
participation in NAMA, and otherwise.

As reported by the TCR on May 31, 2011, KPMG, in Dublin, Ireland,
noted that there are a number of material economic, political and
market risks and uncertainties that impact the Irish banking
system, including the Company's continued ability to access
funding from the Eurosystem and the Irish Central Bank to meet its
liquidity requirements, that raise substantial doubt about the
Company's ability to continue as a going concern.

The Company reported a net loss of EUR10.16 billion on
EUR1.84 billion of interest income for 2010, compared with a net
loss of EUR2.33 billion on $2.87 billion of interest income for
2009.


AMARU INC: Incurs $353,000 Second Quarter Net Loss
--------------------------------------------------
Amaru, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, reporting a net loss
attributable to equity holders of $353,405 on $1,096 of revenue
for the three months ended June 30, 2011, compared with a net loss
attribubtable to equity holders of $202,081 on $38,753 of revenue
for the same period a year ago.

The Company also reported a net loss attributable to equity
holders of $795,602 on $4,239 of total revenue for the six months
ended June 30, 2011, compared with a net loss attributable to
equity holders of $572,723 on $44,351 of total revenue for the
same period a year ago.

The Company's balance sheet at June 30, 2011, showed $2.99 million
in total assets, $3.48 million in total liabilities, and a
$487,000 total stockholders' deficit.

As reported in the TCR on April 26, 2011, Mendoza Berger &
Company, LLP, in Irvine, California, expressed substantial doubt
about Amaru, Inc.'s ability to continue as a going concern,
following the Company's 2010 results.  The independent auditors
noted that the Company has sustained accumulated losses from
operations totaling $38.5 million at Dec. 31, 2010.

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

                        http://is.gd/fmpIXX

                          About Amaru Inc.

Singapore-based Amaru, Inc., a Nevada corporation, is in the
business of broadband entertainment-on-demand, streaming via
computers, television sets, PDAs (Personal Digital Assistant) and
the provision of broadband services.  The Company's business
includes channel and program sponsorship (advertising and
branding); online subscriptions, channel/portal development
(digital programming services); content aggregation and
syndication, broadband consulting services, broadband hosting and
streaming services and E-commerce.


ANDRONICO'S MARKETS: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Andronico's Markets, Inc.
          aka Andronico's Community Markets
        1109 Washington Avenue
        Albany, CA 94706-1676

Bankruptcy Case No.: 11-48963

Chapter 11 Petition Date: August 22, 2011

Court: U.S. Bankruptcy Court
       Northern District of California (Oakland)

Judge: Edward D. Jellen

Debtor's Counsel: Doris A. Kaelin, Esq.
                  LAW OFFICES OF MURRAY AND MURRAY
                  19400 Stevens Creek Boulevard, #200
                  Cupertino, CA 95014-2548
                  Tel: (650) 852-9000
                  E-mail: dkaelin@murraylaw.com

                         - and -

                  John Walshe Murray, Esq.
                  LAW OFFICES OF MURRAY AND MURRAY
                  19400 Stevens Creek Boulevard, #200
                  Cupertino, CA 95014-2548
                   Tel: (650) 852-9000
                  E-mail: jwmurray@murraylaw.com

                         - and -

                  Robert A. Franklin, Esq.
                  LAW OFFICES OF MURRAY AND MURRAY
                  19400 Stevens Creek Boulevard, #200
                  Cupertino, CA 95014-2548
                  Tel: (650)852-9000
                  E-mail: rfranklin@murraylaw.com

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

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

The petition was signed by William J. Andronico, chief executive
officer.

Debtor's List of 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Unified Grocers, Inc.              Trade Debt           $1,072,727
5200 Sheila Street
Commerce, CA 90040

UFCW- Employers Benefit Plans      Union Employee       $1,027,899
c/o Fremont Bank                   Benefits
P.O. Box 881326
San Francisco, CA 94188-1326

Tony's Fine Foods                  Trade Debt             $459,657
P.O. Box 1501
West Sacramento, CA 95605-1501

Nature's Best                      Trade Debt             $283,684
6 Pointe Drive, Suite 300
Brea, CA 92821

Pacific Gas and Electric Co.       Utility                $238,994

Lusamerica Foods, Inc.             Trade Debt             $194,132

Hissho Sushi                       Trade Debt             $157,952

Clover Stornetta Farms, Inc.       Trade Debt             $156,298

Area Distributors, Inc.            Trade Debt             $139,128

Marin Cheese                       Trade Debt             $134,506

Seven-Up Bottling Company/Dr.      Trade Debt             $130,933
Pepper SNA

Renaissance Specialty Food         Trade Debt             $124,408

One Source Magazine Dist, LLC      Trade Debt             $118,076

Bay Cities Produce Co., Inc.       Trade Debt             $117,940

Sysco Food Service OF S.F.         Trade Debt             $115,269

Berkeley Bazaar                    Landlord               $112,127

Southern Wine and Spirits          Trade Debt             $104,078

Vince's Shellfish                  Trade Debt              $98,420

Tomax Corporation                  Trade Debt              $96,192

Rock Island Refrigerated           Trade Debt              $95,855
Distribution


ARK DEVELOPMENT: Counsel Quits, Northern Trust Objects
------------------------------------------------------
Philip J. Landau and the law firm Shraiberg, Ferrara & Landau,
P.A. ask the U.S. Bankruptcy Court to approve and formalize their
withdrawal as counsel for debtor Ark Development/Oceanview, LLC,
due to irreconcilable differences that have arisen among the
parties.

According to the firm, it can no longer represent the Debtor in
the bankruptcy proceeding.

The firm also seeks an order instructing all future communications
and pleadings concerning the bankruptcy proceeding to be forwarded
directly to Isaac Kodsi at 701 West Cypress Creek Road, Suite 301,
in Fort Lauderdale, Florida.

Creditor, Northern Trust N.A., states that while it does not
object to the firm's withdrawal as counsel for the Debtor, it
requests the Court to not grant the Withdrawal Motion until after
the Court has ruled on the creditor's "ex-parte motion for relief
from stay and for an order directing the Debtor to abandon certain
collateral and confirming dismissal and abstention as to certain
property."

According to Northern Trust, the Debtor has failed to make a
required adequate protection payment of $15,931 on Aug. 1, 2011,
pursuant to the Court's Aug. 2, 2011 Final order Granting
Expedited Motion for Order Approving Agreement, Granting Adequate
Protection, Relief from Stay, Abstention and Dismissal of Case.
Northern Trust asserts that failure to pay constituted a default
under the Final Order.

Northern Trust asks the Court to deny the Withdrawal Motion unless
the Ex-Parte Motion has already been resolved by the Court.

                     About Ark Development

Ark Development/Oceanview LLC owns three pieces 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.  It scheduled assets of $12,000,000
and debts of $9,772,531.

The U.S. Trustee said it will not appoint at this time a committee
of creditors for the Debtor's case.


ARKANOVA ENERGY: Reports $405,000 Net Income in June 30 Quarter
---------------------------------------------------------------
Arkanova Energy Corporation filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting
net income of $405,049 on $347,081 of total revenue for the three
months ended June 30, 2011, compared with a net loss of $841,394
on $257,954 of total revenue for the same period during the prior
year.

The Company also reported a net loss of $1.77 million on $989,031
of total revenue for the nine months ended June 30, 2011, compared
with a net loss of $2.98 million on $828,881 of total revenue for
the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $2.49 million
in total assets, $13.59 million in total liabilities, and a
$11.10 million total stockholders' deficit.

As reported in the Troubled Company Reporter on Jan. 17, 2011,
MaloneBailey, LLP, in Houston, expressed substantial doubt about
Arkanova Energy'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 losses since inception.

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

                        http://is.gd/GJRpBn

                       About Arkanova Energy

The Woodlands, Tex.-based Arkanova Energy Corporation is currently
participating in oil and gas exploration activities in Arkansas,
Colorado and Montana.  All of Arkanova's oil and gas properties
are located in the United States.


AUGUSTA HOUSING: S&P Raises Rating on Series 2004 Bonds to 'BB+'
----------------------------------------------------------------
Standard & Poor's Ratings Services raised its rating on Augusta
Housing Authority, Ga.'s multifamily housing revenue bonds series
2004 to 'BB+' from 'BB'. The outlook is stable.

"The upgrade is based on our view of the project's reliance on
short-term market rate investments," said Standard & Poor's credit
analyst Renee J. Berson.

The rating reflects S&P's view of:

    "Revenues from mortgage debt service payments and investment
    earnings in our opinion are sufficient to pay full and timely
    debt service on the bonds plus fees in the near to medium
    term," S&P stated.

    Debt service coverage is projected to fall below investment
    grade levels beyond November 2034.

    Asset/liability parity is projected to fall below 100% in
    2043.

Credit strengths in the issue include S&P's opinion of:

    Investments held in First American Treasury Obligations Fund
    Class D money market fund (AAAm); and

    The high credit quality of the Ginnie Mae mortgage-backed
    security, which S&P considers to be 'AAA' eligible.

"Standard & Poor's has analyzed updated financial information
based on our current stressed reinvestment rate assumptions for
all scenarios as set forth in the criteria for certain federal
government-enhanced housing transactions. We believe the bonds are
able to meet all bond costs from transaction revenues, assuming
these reinvestment earnings at 'BB+' levels," S&P related.


BANNING LEWIS: City Proposes Two-Pronged Way to Settle Issue
------------------------------------------------------------
Rich Laden at the Gazette reports that the city of Colorado
Springs, which is in a legal battle with a Houston company that
wants to buy the lion's share of the Banning Lewis Ranch and drill
for oil and gas on the property, is proposing a two-pronged
approach to address their differences.

According to the report, the city says it's willing to support the
sale of 18,000 acres of the 21,500-acre Banning Lewis Ranch to
Ultra Resources, according to a proposal by the city in U.S.
Bankruptcy Court in Delaware, where the ranch's current owners
filed for Chapter 11 bankruptcy protection last year.

The report says, but as part of its proposal, the city asked a
Delaware bankruptcy judge to allow a Colorado bankruptcy court to
settle the city's disputes with Ultra.  The city says the company
should be bound by a 23-year-old annexation agreement and other
land-use controls that were intended to govern how the massive
ranch would be developed; Ultra says the agreements would tie its
hands at it pursues energy exploration on the property.

The report relates that the city's proposal grew out of what it
described as "difficult, and to some degree productive
negotiations" with Ultra, according to Monday's court filing.
Those negotiations have taken place outside of bankruptcy court,
including at least one session in early August in which Ultra
representatives met with city officials in Colorado Springs.

The report notes City Council President Scott Hente, who was part
of at least one of the negotiating sessions with Ultra, said
Tuesday the city wants the annexation agreement and other points
of contention heard by a Colorado bankruptcy court judge who would
have a better understanding of the city's land-use authority under
the Colorado Constitution.

The Delaware bankruptcy court is already scheduled to convene a
hearing, where Ultra's proposal to buy the land and an earlier
motion by the city to transfer proceedings to Colorado were
scheduled to be heard.

At issue in the court fight is the fate of the massive Banning
Lewis property, which makes up much of Colorado Springs' east side
and where decades of growth -- tens of thousands of residences,
shopping centers, office parks and the like -- have long been
envisioned.  The city annexed the property in 1988, but the
property has since gone through a series of owners and only a
small portion of the ranch's far north side has been developed
with homes, according to the report.

                         About Banning Lewis

Banning Lewis Ranch Co. is the owner of the undeveloped portion of
a 21,000-acre ranch in Colorado Springs, Colo.  Banning Lewis
Ranch is a master-planned community in Colorado Springs, Colorado.
The first section built, the 350-acre Northtree Village, opened in
September 2007 and will have 1,000 homes priced from the high
$100,000s to the mid-$300,000s.

Banning Lewis Ranch filed for Chapter 11 bankruptcy protection
from creditors (Bankr. D. Del. Case No. 10-13445) on Oct. 28,
2010.  It estimated assets of $50 million to $100 million and
debts of $100 million to $500 million in its Chapter 11 petition.

An affiliate, Banning Lewis Ranch Development I & II, LLC, also
filed for Chapter 11 (Bankr. D. Del. Case No. 10-13446).

Kevin Scott Mann, Esq., at Cross & Simon, LLC, serves as counsel
to the Debtors.  Edward A. Phillips of Eisner Amper LLP has been
retained as the Company's chief restructuring officer.


BARZEL INDUSTRIES: Court Approves Disclosure Statement
------------------------------------------------------
The Hon. Christopher S. Sontchi has approved the disclosure
statement explaining the Amended Joint Plan OF Liquidation of
Barzel Industries, Inc.

A hearing to consider confirmation of the Plan will be held on
Sept. 18, 2011, at 1:00 p.m.  The voting deadline on the Plan is
Aug. 29, 2011, at 5:00 p.m.

According to the Disclosure Statement, "The Debtors are proposing
the Plan over the alternative of converting the Debtors'
bankruptcy cases to Chapter 7 of the Bankruptcy Code because the
Debtors believe that (i) the Plan provides a more orderly
liquidation and a greater recovery to creditors than a Chapter 7
liquidation, and (ii) the Plan provides unnecessary costs to the
Debtors' estates which would accrue should the Debtors' bankruptcy
cases be converted to Chapter 7 of the Bankruptcy Code."

Under the Plan, administrative claims, priority tax and non tax
claims, class 1 miscellaneous secured claims, and class 3 priority
non-tax claims are estimated to receive 100% recovery.

A copy of the Amended Disclosure Statement is available at
http://bankrupt.com/misc/Barzel_disclosurestatement.pdf

                       About Barzel Industries

Norwood, Massachusetts-based Barzel Industries, Inc., was in the
business of processing and distributing steel.  The Company
manufactured steel for the construction and industrial
manufacturing industries, and produces finished commercial racking
products.

Barzel Industries -- aka Novamerican Steel Inc. and Symmetry
Holdings Inc. -- and seven affiliates filed for Chapter 11
protection (Bankr. D. Del. Case No. 09-13204) on Sept. 15, 2009.
Judge Christopher S. Sontchi presides over the cases.  J. Kate
Stickles, Esq., and Patrick J. Reilley, Esq., at Cole, Schotz,
Meisel, Forman & Leonard, P.A., in Wilmington, Delaware, and
Gerald H. Gline, Esq., at Cole, Schotz, Meisel, Forman & Leonard,
P.A., in Hackensack, N.J., serve as the Debtors' counsel.

On the same day, Barzel Industries filed applications for relief
under the Canadian Companies' Creditors Arrangement Act in the
Ontario Superior Court of Justice -- Commercial List.

Barzel Industries recorded assets of $370,145,000 against debts of
$375,412,000 as of May 30, 2009.

Barzel sold most of the assets in November 2009 for $75 million to
Norwood, Massachusetts-based Chriscott USA Inc.  Secured lenders
agreed to a settlement later where they received a release of
claims in return for giving up $800,000, including $500,000
earmarked solely for unsecured creditors.

Barzel scheduled a Sept. 8 confirmation hearing for approval of
the liquidating Chapter 11 plan.  The disclosure statement says
that unsecured creditors with $4.5 million in claims are estimated
to have an 11% recovery from the carveout from the lenders'
collateral.


BC ROGERS: Court Rules in Lawsuit Against CIT Group
---------------------------------------------------
Bankruptcy Judge Edward Ellington spared The CIT Group/Equipment
Financing, Inc., in a lawsuit involving defunct chicken producer
B.C. Rogers Poultry Inc. and B.C. Rogers Processors Inc.  After
B.C. Rogers defaulted on lease payments on certain industrial
equipment used in its plants, lender CIT turned to the financial
institutions that issued standby letters of credit supporting the
lease and demanded payment of $3,000,000.  The issuers paid CIT
and turned to the applicants of the letters of credit, John M.
Rogers, Sr., and J. Kelley Williams, for reimbursement.  Messrs.
Rogers and Williams reimbursed the issuers and turned to B.C.
Rogers, but were unsuccessful.  Messrs. Rogers and Williams now
turn to CIT, the beneficiary of the letters of credit, for the
return of $3,000,000, damages, interest, and attorney's fees.

Judge Ellington ruled that the relief sought by Messrs. Rogers and
Williams against CIT in their Second Amended Complaint is not well
taken and should be denied.  In an Aug. 19, 2011 Findings of Fact
and Conclusions of Law, a copy of which is available at
http://is.gd/ZCjHFYfrom Leagle.com, Judge Ellington said that as
seasoned businessmen and former owners of B.C. Rogers,
Messrs. Rogers and Williams understood the risk they undertook
when they agreed to provide the letters of credit as part of the
refinancing plan required by the Senior Lenders.  At the time, the
risk was acceptable to them.  "Although BCR did not recover from
its financial struggles, as Rogers and Williams had expected,
their financial loss was not anyone's fault but the result of a
confluence of events and decisions, any one of which was perhaps
insignificant by itself but together proved insurmountable to
BCR's financial health," Judge Ellington said.

B.C. Rogers Poultry Inc. and B.C. Rogers Processors Inc. filed for
Chapter 11 bankruptcy (Bankr. S.D. Miss. Lead Case No. 01-06516)
on Nov. 19, 2001.  Only a decade before it met its financial
demise, BCR was one of the largest producers, processors, and
wholesalers of chicken products in the nation.  It was founded in
central Mississippi in the early 1930s by B.C. Rogers.  When he
died in 1972, ownership of BCR passed to his three children.  BCR
remained a family-owned company until 1981, when John M. Rogers,
Sr., and J. Kelley Williams purchased all of BCR's stock from the
heirs of B.C. Rogers (including from Rogers himself) and each
acquired a 50% interest.

The lawsuit is styled, JOHN M. ROGERS, SR., AND J. KELLEY
WILLIAMS, AS TRUSTEE OF THE J. KELLEY WILLIAMS REVOCABLE TRUST, v.
THE CIT GROUP/EQUIPMENT FINANCING, INC., AND H. KENNETH LEFOLDT,
AS LIQUIDATING TRUSTEE OF THE B.C. ROGERS LIQUIDATING TRUST, Adv.
Proc. No. 03-00122 (Bankr. S.D. Miss.).

Attorneys for Plaintiffs are:

          James W. O'Mara, Esq.
          Debra M. Brown, Esq.
          PHELPS DUNBAR LLP
          4270 I-55 North
          Jackson, MS 39211-6391
          Tel: (601) 360-9720
          Fax: (601) 360-9777
          E-mail: jim.omara@phelps.com
                  debra.brown@phelps.com

Attorneys for The CIT Group/Equipment Financing, Inc., are:

          William H. Leech, Esq.
          Danny E. Ruhl, Esq.
          COPELAND, COOK, TAYLOR & BUSH, P.A.
          1076 Highland Colony Parkway
          Concourse 600, Suite 100
          Ridgeland, MS 39157
          Tel: 601-856-7200
          E-mail: bleech@cctb.com
                  druhl@cctb.com

Attorney for H. Kenneth Lefoldt, Jr., as Liquidating Trustee of
the B.C. Rogers Liquidating Trust, is:

          J. Walter Newman, IV
          248 E Capitol St Ste 539
          Jackson, MS 39201


BEAR VALLEY: Can Hire Christopher P. Walker as Counsel
------------------------------------------------------
Having found that the law firm represents no interest adverse to
the estate with respect to matters upon which it is to be engaged,
the U.S. Bankruptcy Court for the Central District of California
approved the application of Bear Valley Family Limited Partnership
to employ Law Office of Christopher P. Walker, P.C. as its general
bankruptcy counsel.

Counsel can be contacted at:

          Christopher P. Walker, Esq.
          LAW OFFICE OF CHRISTOPHER P. WALKER, P.C.
          505 S. Villa Real Drive, Suite 116
          Anaheim Hills, California 92807
          Tel: 714-639-1990
          Fax: 714-637-1636

                    About Bear Valley Family

Based in Costa Mesa, California, Bear Valley Family Limited
Partnership filed for Chapter 11 bankruptcy (Bankr. C.D. Calif.
Case No. 11-17893) on June 2, 2011.  Christopher P. Walker, Esq.,
at the Law Office of Christopher P. Walker, P.C., at Anaheim
Hills, Calif., serves as the Debtor's general bankruptcy
counsel.Judge Robert N. Kwan presides over the case.  The Debtor
scheduled assets of $14,006,000 and liabilities of $7,353,409.


BERNARD L. MADOFF: Trustee Defends 'Clawbacks' in District Court
----------------------------------------------------------------
Michael Bathon at Bloomberg News reports that Irving Picard, the
trustee liquidating Bernard L. Madoff's firm, defended a
"clawback" lawsuit against a doctor who invested in the Ponzi
scheme, saying a U.S. appeals court ruling backed up his claim
that fictitious paper profits are an "absurd" measure of
investors' holdings.

According to the report, Gerald Blumenthal, the investor, is
asking a U.S. District Court judge to rule on his argument that
the Madoff estate owes him the amount reflected on his Madoff
brokerage statements.

The report recounts that a federal appeals court in New York ruled
on Aug. 16 that in calculating what to pay Madoff customers,
Mr. Picard should ignore fictitious profit, which merely reflected
the con man's "machinations."  While the court didn't say what
Mr. Picard can take from investors, his argument for clawing back
profit was "bolstered" by the ruling, said Peter Henning, a
professor at Wayne State University in Detroit.

                    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.


BLOCK 106: Can Hire Cole Schotz as Bankruptcy Counsel
-----------------------------------------------------
The Honorable Donald H. Steckroth authorized Block 106
Development, LLC to employ Cole, Schotz, Meisel, Forman & Leonard,
P.A., as its bankruptcy counsel, effective as of the Petition
Date.

The firm can be contacted at:

          COLE, SCHOTZ, MEISEL, FORMAL & LEONARD, P.A.
          A Professional Corporation
          25 Main Street
          P.O. Box 800
          Hackensack, New Jersey 07602-0800
          Tel: (201) 489-3000
          Fax: (201) 489-1536

                   About Block 106 Development

Block 106 Development, LLC, filed for Chapter 11 bankruptcy
(Bankr. D. N.J. Case No. 11-27050) on June 1, 2011.  Judge Donald
H. Steckroth presides over the case.  Michael D. Sirota, Esq., at
Cole, Schotz, Meisel, Forman & Leonard, P.A., serves as the
Debtor's bankruptcy counsel.  In its petition, the Debtor
estimated $10 million to $50 million in assets and $1 million to
$10 million in debts.

Block 106 is affiliated with Tarragon Corporation and various
related entities which filed for bankruptcy (Bankr. D. N.J. Lead
Case No. 09-10555) Jan. 12, 2009. Michael D. Sirota, Esq., Warren
A. Usatine, Esq., and Felice R. Yudkin, Esq., at Cole Schotz,
represented the Tarragon Debtors as bankruptcy counsel.
Tarragon's Joint Plan of Reorganization became effective, and the
Company emerged from Chapter 11 protection in July 2010.

Based in New York City, Tarragon Corp. (NasdaqGS:TARR) --
http://www.tarragoncorp.com/-- is a developer of multifamily
housing for rent and for sale.  Tarragon's operations are
concentrated in the Northeast, Florida, Texas, and Tennessee.


BMB MUNAI: Reports $4.3 Million Net Income in June 30 Quarter
-------------------------------------------------------------
BMB Munai, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, reporting net income
of $4.32 million on $0 of revenue for the three months ended
June 30, 2011, compared with net income of $871,868 on $0 of
revenue for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed
$326.89 million in total assets, $103.95 million in total
liabilities, and $222.93 million total stockholders' equity.

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

                        http://is.gd/QyLHqa

                          About BMB Munai

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

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

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

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

                        Bankruptcy Warning

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


BOWE BELL: Court Directs U.S. Trustee to Appoint Retiree Committee
------------------------------------------------------------------
The Hon. Peter J. Walsh of the U.S. Bankruptcy Court for the
District of Delaware directed the U.S. Trustee for Region 3 to
form a retiree committee in the Chapter 11 cases of Mail Systems
Liquidation, Inc., et al., formerly known as Bowe Systec, Inc., et
al.

Previously, Harold R. Van Seters requested that the Court
reinstate retiree benefits and appoint a retiree committee in the
Debtors' cases.

                          About Bowe Bell

Headquartered in Wheeling, Ill., BOWE BELL + HOWELL --
http://www.bowebellhowell.com/-- is a leading provider of high-
performance document management solutions and services.  In 1936,
the company pioneered gripper arm mail-inserting systems and has
one of the world's largest installed bases of such inserters as a
result of the technology's flexibility, performance and
reliability.  The company's complete portfolio of inserting,
sorting, plastic card, integrity, cutting, packaging, print-on-
demand and software solutions is one of the most comprehensive
product offerings for paper-based communications.  These solutions
are supported by one of the largest dedicated service
organizations in the industry.  In addition to its headquarters
offices, the company maintains major manufacturing and service
locations in Durham, N.C. and Bethlehem, Penn.

Bowe Bell + Howell sought bankruptcy protection in the U.S. as
part of a deal to itself to creditor Versa Capital Management Inc.
to pay off debt.

Bowe Systec, Inc., Bowe Bell + Howell Holdings, Inc., and other
affiliates, including Bowe Bell + Howell Holdings, Inc., filed
Chapter 11 petitions (Bankr. D. Del. Lead Case No. 11-11186) on
April 18, 2011.  Bowe Systec estimated assets and debt of $100
million to $500 million as of the bankruptcy filing.

Mark D. Collins, Esq., Michael J. Merchant, Esq., and Lee E.
Kaufman, Esq., at Richards, Layton & Finger, P.A., in Wilmington,
Delaware, serve as the Debtors' bankruptcy counsel.  McDermott
Will & Emery is the Debtors' special corporate counsel.  Focus
Management Group is the Debtors' financial advisors.  Lazard
Middle Market LLC is the Debtors' investment banker.  The Garden
City Group, Inc is the Debtors' claims and notice agent.

Bowe Bell + Howell International Ltd., BBH's Canadian subsidiary,
commenced parallel ancillary proceeding under Part IV of the
Companies' Creditors Arrangement Act.  BBH Canada, as the proposed
foreign representative for the Debtors in the ancillary
proceeding, will ask an Ontario Superior Court judge to recognize
the bankruptcy proceedings in the U.S.  PricewaterhouseCoopers
Inc. is the prospective Information Officer in the Canadian
Proceeding.

Versa Capital Management, Inc. on June 27 announced the completion
of its previously publicized acquisition of the assets of Bowe
Bell + Howell and the formation of a new company and brand, Bell
and Howell, LLC.


BROWNIE'S MARINE: Incurs $2.4 Million Second Quarter Net Loss
-------------------------------------------------------------
Brownie's Marine Group, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q reporting a
net loss of $2.46 million on $597,194 of total net revenues for
the three months ended June 30, 2011, compared with a net loss of
$291,740 on $658,065 of total net revenues for the same period a
year ago.

The Company also reported a net loss of $2.73 million on $960,094
of total net revenues for the six months ended June 30, 2011,
compared with a net loss of $359,894 on $1.12 million of total net
revenues for the same period during the prior year.

The Company ended 2010 with a $1.2 million net loss on
$2.2 million of revenues and 2009 with a net loss of $451,227 on
$2.4 million of revenues.

The Company's balance sheet at June 30, 2011, showed $2.15 million
in total assets, $2.38 million in total liabilities and a $227,484
total stockholders' deficit.

L.L Bradford & Company, LLC, in Las Vegas, Nevada, expressed
substantial doubt about Brownie's Marine Group's ability to
continue as a going concern, following the Company's 2010 results.
The independent auditors noted that the Company has a working
capital deficiency and recurring losses and will need to secure
new financing or additional capital in order to pay its
obligations.

                         Bankruptcy Warning

The Company said that if it fails to raise additional funds when
needed, or do not have sufficient cash flows from sales, the
Company may be required to scale back or cease operations,
liquidate its assets and possibly seek bankruptcy protection.

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

                        http://is.gd/fh6A6p

                      About Brownie's Marine

Brownie's Marine Group, Inc. (OTC BB: BWMG) --
http://www.brownismarinegroup.com/-- designs, tests, manufactures
and distributes recreational hookah diving, yacht based scuba air
compressor and nitrox generation systems, and scuba and water
safety products.  BWMG sells its products both on a wholesale and
retail basis, and does so from its headquarters and manufacturing
facility in Fort Lauderdale, Florida.


CAMPANA FAMILY: Reaches Deal With Creditors, Asks for Dismissal
---------------------------------------------------------------
Campana Family LLC asks the U.S. Bankruptcy Court for the District
of Arizona to dismiss its Chapter 11 bankruptcy case because it
has reached settlement with its creditors and is no longer needing
bankruptcy relief.

On July 26, 2011, the Debtor moved to vacate a hearing scheduled
for July 28 on the disclosure statement explaining its proposed
Chapter 11 plan.  The Debtor related that it has reached an
agreement in substance with Mohave State Bank, the sole secured
creditor and primary interested party on Debtor's "dirt for debt"
plan.  The Debtor added that once documentation of the settlement
is finalized, it intends to move to dismiss its bankruptcy case.

The Plan proposed by the Debtor provided for the transfer of
Debtor's primary asset to the Mohave State Bank in full
satisfaction of the Bank's claim against the Debtor.

                     About Campana Family, LLC

Scottsdale, Arizona-based Campana Family, LLC, is a real estate
developer in Arizona.   The Company owns a partially completed
real estate subdivision in Kingman, Mohave County, Arizona known
as Castlerock Village, consisting of 75 improved residential lots.
It also owns 213 partially improved premilinary platted lots.  The
Company owns 23 additional acres adjoining Castlerock Village,
part of which is zoned R-2 for multi-unit apartments, part as C-2
zoning for mini-storage and part as C-1 for commercial
development.  The Company filed for Chapter 11 bankruptcy
protection  (Bankr. D. Ariz. Case No. 11-00530) on Jan. 8, 2011.
The Hendrickson Law Firm, PLLC, represents the Debtor in its
restructuring effort.  The Debtor disclosed $11,077,036 in assets
and $3,241,510 in liabilities as of the Chapter 11 filing.


CAMTECH PRECISION: R&J Wants Plan Filing Exclusivity Until Oct. 14
------------------------------------------------------------------
R&J National Enterprises, Inc., asks the U.S. Bankruptcy Court for
the Southern District of Florida to further extend its exclusive
right to file a plan of reorganization through and including
Oct. 14, 2011, and its exclusive right to solicit acceptances to a
filed plan of reorganization through and including Dec. 16, 2011.

This is R&J's 8th request for an extension of the Exclusive
Periods.  R&J says its needs additional time to resolve
contingencies and negotiate with its creditors.

R&J's exclusive periods currently expire on Aug. 15, 2011, and
Oct. 17, 2011, respectively.  Avstar Fuel Systems, Inc.'s Plan and
Disclosure Statement was filed on July 5, 2011.

                      About Camtech Precision

Avstar, founded in 2007, designs, manufactures and overhauls
carburetors and fuel injection systems for aviation industry.
Avstar is the holder of Federal Aviation Administration Parts
Manufacturer Approvals for general aviation fuel systems. Avstar
generates sales primarily from new product sales and overhauls of
carburetors and servos for the general aviation industry.

Jupiter, Florida-based Camtech Precision Manufacturing, Inc.,
Avstar Fuel Systems, Inc., and R & J National Enterprises, Inc.,
filed for Chapter 11 bankruptcy protection (Bankr. S.D. Fla. Case
Nos. 10-22760, 10-22762 and 10-22762) on May 10, 2010.  Bradley S.
Shraiberg, Esq., who has an office in Boca Raton, Florida, serve
as counsel to the Debtors.  Carlos E. Sardi, Esq., and Glenn D.
Moses, Esq., who have an office in Miami, Florida, represent the
Official Committee of Unsecured Creditors.  In its schedules,
Camtech disclosed assets of $10,977,673 and debts of $14,625,066.


CAMTECH PRECISION: Regions Files Limited Objection to Avstar Plan
-----------------------------------------------------------------
Regions Bank has filed a limited objection to the disclosure
statement and Chapter 11 Plan of Reorganization proposed by Avstar
Fuel Systems, Inc., filed July 5, 2011.

Regions states:.

1. Under the Plan, Regions Bank will receive $1,920,000 in 96
   equal payments of $20,000 in full satisfaction, settlement,
   release, extinguishment and discharge of its claim.

   Regions says that while it does not object to the terms as
   stated, neither the disclosure statement nor the Plan reflects
   that the Reorganized Debtor will provide Regions with a loan
   document evidencing the $1,920,000 obligation and resulting
   security interest.

2. Regions says that it has not agreed to dismiss with prejudice
   its appeal of the order granting plaintiff's motion for summary
   judgment (ADV  DE #17) and final judgment (ADV DE #18) in the
   adversary case styled Official Committee of Unsecured Creditors
   v. Regions Bank (Adversary No. 10-3479-BKC-PGH-A), whereby the
   Court determined that Regions failed to perfect its security
   interest in the assets of Camtech and Avstar, thereby rendering
   Regions an unsecured rather than a secured creditor.

   The Disclosure Statement and the Plan provide, inter alia: "If
   Regions votes in favor of the Plan, Regions agrees to dismiss
   this appeal with prejudice."

   Regions says that the Disclosure Statement and Plan should be
   amended to either (a) remove the above sentence; or (b)
   disclose that if Regions votes in favor of the Plan, the Debtor
   will request that Regions dismiss the appeal with prejudice,
   however, Regions has not agreed to such dismissal.

                       The Chapter 11 Plan

As reported in the TCR on July 28, 2011, Avstar Fuel Systems,
Inc., a debtor-affiliate of Camtech Precision Manufacturing, Inc.,
et al., submitted to the U.S. Bankruptcy Court for the Southern
District of Florida, a Plan of Reorganization and explanatory
disclosure statement as of July 5, 2011.

Cash payments under the Plan will come from the operation of the
Debtor's business in the ordinary course prior to and after the
effective date.

Claims and interests will be treated as follows:

Class 1 -- Allowed DIP Lender Claim ($150,000).  On the effective
       date, the DIP lender will subordinate its claims to all
       allowed claims as its purchase price for the Debtor's
       equity.

Class 2 -- Allowed Regions Secured Claim.  On the effective date,
       Regions will receive: (i) $1,920,000 in 96 equal monthly
       payments of $20,000; (ii) a security interest in the
       furniture, fixture and equipment of the Debtor to secured
       payment of the $1,920,000; and (iii) the respective
       personal guaranties of Ronald Weaver, an insider of the
       Debtor, and his wife Jacqueline Weaver, for any amounts
       owed to Regions  with respect to $1,920,000.

Class 3 Allowed Wells Fargo Equipment Finance Inc. Claim.
       Commencing on the effective date, Wells Fargo will receive
       a total of $105,000 in 60 equal monthly payments of $1,750.
       The Debtor will be permitted to prepay without penalty.

Class 4 Allowed General Unsecured Claims ($168,297, excluding any
       claims by Air Craft Carburetors and Precision Airmotive).
       Commencing within 90 dates after the effective date,
       holders of general unsecured claims will be paid in the
       full amount of their allowed claims in equal quarterly
       payments for 60 months, which will accrue at an interest of
       5% per annum, or at a rate as otherwise determined by the
       Court.

Class 5 Allowed Equity Interests.  On the effective date, all
       allowed equity interests in the Debtor will be deemed
       canceled and extinguished.

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

                         About Avstar Fuel

Avstar, founded in 2007, designs, manufactures and overhauls
carburetors and fuel injection systems for aviation industry.
Avstar is the holder of Federal Aviation Administration Parts
Manufacturer Approvals for general aviation fuel systems. Avstar
generates sales primarily from new product sales and overhauls of
carburetors and servos for the general aviation industry.

Jupiter, Florida-based Camtech Precision Manufacturing, Inc.,
Avstar Fuel Systems, Inc., and R & J National Enterprises, Inc.,
filed for Chapter 11 bankruptcy protection (Bankr. S.D. Fla. Case
Nos. 10-22760, 10-22762 and 10-22762) on May 10, 2010.  Bradley S.
Shraiberg, Esq., who has an office in Boca Raton, Florida, serve
as counsel to the Debtors.  Carlos E. Sardi, Esq., and Glenn D.
Moses, Esq., who have an office in Miami, Florida, represent the
Official Committee of Unsecured Creditors.  In its schedules,
Camtech disclosed assets of $10,977,673 and debts of $14,625,066.


CAPITAL HOME: Seeks Dismissal as Lenders Seize Properties
---------------------------------------------------------
On Sept. 6, 2011, at 10:30 a.m., Capital Home Sales, LLC, Drake
Rentals, LLC, and Emerald One, LLC, will present to the U.S.
Bankruptcy Court for the Northern District of Illinois their
respective motions to dismiss their Chapter 11 cases.

With respect to Debtor Capital Home Sales, LLC, the Court has
entered orders modifying the stay with respect to the collateral
of the following banks:

                                         Date of Order
                                         -------------
     TCF National Bank ("TCF")           May 6, 2011
     Delaware Place Bank ("DPB")         July 19, 2011
     Village Bank and Trust ("VBT")      July 19, 2011
     MB Financial Bank ("MB")            March 18, 2011

While First Chicago Bank & Trust ("FCBT") has not moved to modify
the stay with respect to its collateral, Capital Home Sales, LLC,
believes that FCBT will shortly file a motion for relief from the
automatic stay.

With respect to Debtors Drake Rentals, LLC, and Emerald One, LLC,
on May 6, 2011, the Court entered orders modifying the automatic
stay effective May 31, 2011, so that TCF could recover and dispose
of its Collateral.

The Debtors state that as a result, they are unable to propose a
feasible plan of reorganization, and have no assets which a
Chapter 7 trustee could administer for the benefit of unsecured
creditors.

                       About Capital Home

Portland, Oregon-based Capital Home Sales, LLC -- dba Falcon
Financial, LLC; Kestral Financial, LLC; Emerald Financial, LLC;
Teal Financial, LLC; Harrier Financial, LLC; Goshawk Financial,
LLC; Heron Financial, LLC; Wigeon Financial, LLC; Kestral Onel,
LLC; Kestral Rentals; Wigeon Rentals; and Goshawk Rentals --
started as a series of individual companies that performed sales
and rental functions for particular manufactured home communities,
which communities were often related affiliates of the Company.
The Company conducts the foregoing business operation of
purchasing, selling, leasing and financing homes.

The Company filed for Chapter 11 bankruptcy protection (Bankr.
N.D. Ill. Case No. 10-54387) on Dec. 8, 2010.  Donna B. Wallace,
Esq., and Joseph A Baldi, Esq., at Baldi Berg & Wallace, Ltd., in
Chicago, serve as counsel.  The Company estimated assets at
$50 million to $100 million and debts at $10 million to
$50 million.


CARBON RESOURCES: Court OKs Substitute Counsel for M.J. Keefe
-------------------------------------------------------------
The Hon. Robert H. Jacobvitz of the U.S. Bankruptcy Court for the
District of New Mexico authorized Carbon Resources LLC to employ
Philip J. Montoya and Daniel J. Behles as substitute counsel for
M.J. Keefe of Gilpin & Keefe, PC.

Messrs. Montoya and Behles, also substituted James M. LaGanke as
its attorney of record to represent the Debtor in the Chapter 11
proceeding and related matters, and other matters as the Debtor
may need legal advice or representation on.

That Debtor is authorized to pay attorneys on a monthly basis,
upon receipt of attorneys' billing statements and prior to the
Court's determination of the allowability of attorneys
compensation, 75% of billed fees and 100% of reimbursable costs,
and 100% applicable gross receipts tax on fees and taxes that are
paid.

The Debtor may pay attorneys interim compensation at these hourly
rates:

         Philip J. Montoya                 $200
         Daniel J. Behles                  $250
         Paralegals                         $90

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

                     About Carbon Resources LLC

Sandia Park, New Mexico-based Carbon Resources LLC filed for
Chapter 11 bankruptcy protection (Bankr. N.M. Case No. 10-16104)
on Dec. 10, 2010.  M.J. Keefe, Esq., at Gilpin & Keefe, PC, and
the law firm of James M. LaGanke P.L.L.C., serve as the Debtor's
bankruptcy counsel.  The Debtor estimated assets at $10 million to
$50 million, and debts at $1 million to $10 million.


CARBON RESOURCES: Files New Plan Disclosures After Denial
---------------------------------------------------------
As reported in the TCR on July 1, 2011, Judge Robert H. Jacobvitz
of the U.S. Bankruptcy Court for the District of Mexico denied
approval of the disclosure statement explaining Carbon Resources,
LLC's Plan of Reorganization.

Creditor PCM Venture II, LLC, objected to the approval of the
Disclosure Statement complaining that it is unequivocally
deficient, it fails to provide "adequate information" as required
by Section 1125 of the Bankruptcy Code, and it describes a plan of
reorganization that is facially unconfirmable.

The Court then ordered the Debtor to file and serve upon counsel
for PCM Venture II, LLC, and the U.S. Trustee an amended
disclosure statement on or before July 8, 2011.

On July 10, 2011, Carbon Resources filed a disclosure statement
describing the Debtor's Amended Plan filed on July 9, 2011.

According to the Amended Disclosure Statement, the Debtor has two
secured creditors and a general class of unsecured creditors.  The
Debtor's secured creditors are PCM Venture II, LLC, in an amount
of $4,484,338 including interest accrued through the filing date,
and Carbon County Treasurer in the amount of $784.71.

Secured creditors PCM Ventures II, LLC and Carbon County Treasurer
are unimpaired under the Plan.

Holders of general unsecured claims will be paid 75% of their
allowed claims on the Effective Date, and will be issued
promissory notes for the remaining 25% payable one year after the
Effective Date, bearing simple interest at the rate of 4% p.a.
This class is impaired.

Holders of unsecured claims of insiders will receive promissory
notes on the Effective date for the full amount of their claim,
payable one year after the Effective Date, bearing simple interest
at 4% per year, with all principal and interest due at the end of
the term.

WRCC, LLC, the only equity holder, will retain its equity interest
in Debtor.  WRCC will receive an amount sufficient on the
Effective date to help offset the capital gains and income tax
liabilities of those parties that arise as a direct result of the
realization of taxable gain on the sale of the assets.

Payments and distributions under the Plan will be funded by the
sale of the Debtor's coal mining interests to Delta Capital Coal
Fund Pty Ltd (Optionee).  The sales price is $25,000,000 and is to
be paid in three payments over a period of two years.  Optionee is
to pay Debtor the cash sum of 7,000,000 ($500,000 from the Option
Fee being held in escrow and $6,500,000 from Optionee) on the
settlement date.

Currently, the settlement date is no later than Nov. 1, 2011,
which is 30 business days after the latest option exercise date.

Future funding of promissory notes issued by Debtor to certain
claimants will be from a $7,000,000 payment due on the first
anniversary of the settlement date.  At this point, all of
Debtor's creditors, other than claims of insiders, will be paid in
full.  A third a final installment of $11,000,000 is due on the
second anniversary of the settlement date.

A copy of the Disclosure Statement for the Amended Plan is
available at http://bankrupt.com/misc/carbonresources.DS.pdf

                     About Carbon Resources LLC

Sandia Park, New Mexico-based Carbon Resources LLC owns a
leasehold interest in an approximately 5,060 acre coal lease near
Scofield, Utah.  The total lease amount is in several scattered
parcels, the primary portion of which is approximately 3,420
contiguous acres which has been drilled and blocked for a coal
mine.  This lease comprises the principal asset of the Debtor.

The Company filed for Chapter 11 bankruptcy protection (Bankr.
N.M. Case No. 10-16104) on Dec. 10, 2010.  Daniel J. Behles, Esq.,
at Moore, Berkson & Gandarilla, P.C., and Philip J. Montoya, Esq.,
with address at P.O. Box 159, Albuquerque, New Mexico, serve as
the Debtor's bankruptcy counsel.  In its schedules, the Debtor
disclosed $22,210,696 in assets and $5,416,004 in liabilities.


CARIBE MEDIA: Files Restructuring Plan Giving Lenders Equity
------------------------------------------------------------
Michael Bathon at Bloomberg News reports that Caribe Media Inc.
filed a reorganization plan that would give control of the company
to its lenders.  Senior secured lenders, owed about $127 million,
would get all of the reorganized company's equity and share in a
$55 million exit loan, for a projected recovery of 79% to 95%,
according to the plan. Subordinated noteholders owed about
$58.5 million won't receive any recovery under the plan.

                         About Caribe Media

Caribe Media Inc. owns publication rights for certain print and
Internet directories in the Dominican Republic and Puerto Rico.
Caribe Media owns 60% of Axesa Servicios de Informacion, S. en C.,
a Yellow Pages publisher in Puerto Rico and the official publisher
of all telephone directories for Puerto Rico Telephone Company,
Inc., the largest local exchange carrier in Puerto Rico, and
US$100% of Caribe Servicios de Informacion Dominicana, S.A., the
sole directory publisher in the Dominican Republic with the
exclusive right to publish under the brand of Codetel, the largest
telecom operator in the Dominican Republic.  Caribe Media is
wholly owned by CII Acquisition Holding Inc.  They are affiliates
of Local Insight Media Holdings, Inc.

Caribe Media and CII filed for Chapter 11 bankruptcy protection
(Bankr. D. Del. Case Nos. 11-11387 and 11-11388) on May 3, 2011.
Caribe Media is being represented by lawyers at Kirkland & Ellis
LLP and Pachulski Stang Ziehl & Jones LLP as bankruptcy counsel.
Lawyers at Curtis, Mallet-Prevost, Colt & Mosle LLP serve as
conflicts counsel.

Local Insight Media is also a debtor in its own Chapter 11 pending
in Delaware.  Local Insight Media filed in 2010.  It is also being
represented by lawyers at Kirkland and Pachulski.


CASA BELLA: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: Casa Bella Development, LLC
        2940 U.S. Highway 60 East
        Republic, MO 65738

Bankruptcy Case No.: 11-61795

Chapter 11 Petition Date: August 19, 2011

Court: United States Bankruptcy Court
       Western District of Missouri (Springfield)

Judge: Arthur B. Federman

Debtor's Counsel: David E. Schroeder, Esq.
                  DAVID SCHROEDER LAW OFFICES, PC
                  1524 East Primrose St., Suite A
                  Springfield, MO 65804-7915
                  Tel: (417) 890-1000
                  Fax: (417) 886-8563
                  E-mail: bk1@dschroederlaw.com

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

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

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

The petition was signed by Terry McKee, managing member.


CATHOLIC CHURCH: Milw. Lease Decision Deadline Moved to Oct. 31
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Wisconsin
has given the Archdiocese of Milwaukee until Oct. 31, 2011, to
assume or reject an unexpired lease of nonresidential property.

The extension is the second after the deadline was first extended
to Aug. 2, 2011, from May 4, 2011.

Before the Court entered its order, the Archdiocese certified
that no objections or responses were filed as of Aug. 5, 2011.

                About the Archdiocese of Milwaukee

The Diocese of Milwaukee was established on Nov. 28, 1843, and
was elevated to an Archdiocese on Feb. 12, 1875, by Pope Pius
IX.  The region served by the Archdiocese consists of 4,758 square
miles in southeast Wisconsin which includes counties Dodge, Fond
du Lac, Kenosha, Milwaukee, Ozaukee, Racine, Sheboygan, Walworth,
Washington and Waukesha.  There are 657,519 registered Catholics
in the Region.

The Catholic Archdiocese of Milwaukee, in Wisconsin, filed for
Chapter 11 bankruptcy protection (Bankr. E.D. Wisc. Case No.
11-20059) on Jan. 4, 2011, to address claims over sexual abuse
by priests on minors.

The Archdiocese became at least the eighth Roman Catholic diocese
in the U.S. to file for bankruptcy to settle claims from current
and former parishioners who say they were sexually molested by
priests.

Daryl L. Diesing, Esq., at Whyte Hirschboeck Dudek S.C., in
Milwaukee, Wisconsin, serves as the Archdiocese's counsel.  The
Official Committee of Unsecured Creditors in the bankruptcy case
has retained Pachulski Stang Ziehl & Jones LLP as its counsel, and
Howard, Solochek & Weber, S.C., as its local counsel.

The Archdiocese estimated assets and debts of $10 million to
$50 million in its Chapter 11 petition.

(Catholic Church Bankruptcy News; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000)


CATHOLIC CHURCH: Court OKs Deposition of Milwaukee Bishops
----------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
case of the Archdiocese of Milwaukee and Jeff Anderson and
Associates, P.A., on behalf of certain personal injury claimants,
who had joined in the Committee's request, sought examinations of
Bishop Richard Sklba, Former Archbishop Rembert Weakland, and
Father Daniel Budzynski pursuant to Rule 2004 of the Federal Rules
of Bankruptcy Procedure by September 16, 2011.

The Committee and Mr. Anderson seek to preserve testimonies
regarding the Archdiocese's liability for sexual abuse, the
health of other potential witnesses regarding sexual abuse, and
the identity of potential survivors of sexual abuse in the
Archdiocese of Milwaukee.

              Former Archbishop Weakland Responds

Subsequently, Archbishop Weakland tells the Court that he has
already submitted to a deposition conducted by Mr. Anderson on
June 5 and June 6, 2008, which lasted one and a half days.  He
notes that the deposition covered a wide range of topics related
to the case, including questioning concerning Father Lawrence
Murphy, a serial pedophile believed to have molested hundreds of
deaf boys over decades.

On behalf of Archbishop Weakland, James T. Murray, Jr., Esq., at
Peterson Johnson & Murray S.C., in Milwaukee, Wisconsin, argues
that permitting an oral examination to go forward at the present
time would expose Former Archbishop Weakland to not only
duplicate questioning, but to the prospect of additional requests
for oral examinations on behalf of claimants who have not yet
appeared, since the bar date is not until February 1, 2012.

"There is no good reason to conduct his oral examination now, at
least insofar as this bankruptcy proceeding is concerned," Mr.
Murray reiterates.

Accordingly, Former Archbishop Weakland asks that the request for
his oral examination by September 16 be denied.

              Former Bishop Sklba Conveys Concerns

In a letter addressed to the Court, Patrick W. Brennan, Esq., at
Crivello Carlson S.C., in Milwaukee, Wisconsin, on behalf of
Bishop Sklba, says that his client has concerns about the timing
and scope of a deposition.  However, he notes that Bishop Sklba
is in good health and will cooperate with all requests of his
time in providing information the Court deems necessary.

Mr. Brennan notes that Bishop Sklba asked that he not be deposed
until after all pending appeals are concluded and mediation is
completed in a case filed by Jane Doe 2 and Jane Doe 3 in the
Circuit Court for the State of Wisconsin against the Archdiocese,
Commercial Union Insurance Company n/k/a Onebeacon Insurance
Company, and Diocese of Sioux Falls.

Accordingly, Mr. Brennan asks the Court to take into account
Bishop Sklba's request in the Circuit Court case, which mainly
gives importance to his privacy and personal life as a retired
bishop.

A deposition of Bishop Sklba at this time appears to expose him
to the prospect of other depositions at a later date due to the
uncertain size of the claimant base and the multiple
representation by single counsel for the abuse-survivor class,
Mr. Brennan points out.

               Archdiocese Objects to Deposition

" This Rule 2004 Motion amounts to an attempt by [the Committee
and Mr. Anderson] to continue with discovery in the State Court
Cases that are stayed, notwithstanding this Court's Order Denying
the Deposition Motion or the fact that the proposed Examinations
truly are not focused on the Debtor's financial affairs, the
proper focus of Rule 2004 examinations," Daryl L. Diesing, Esq.,
at Whyte Hirschboeck Dudek S.C., in Milwaukee, Wisconsin, argues.

Mr. Diesing asserts that the Rule 2004 Motion should be denied
because (i) there is little risk of loss of evidence prior to the
February 1, 2012 Abuse Survivor Bar Date, (ii) the testimony of
the requested examinees will not advance the Chapter 11 case at
this time, and (iii) it is exceedingly unlikely that the
Examinations will result in disclosure of unknown abuse
survivors.

The Committee and Mr. Anderson give as their primary reason for
filing the Rule 2004 Motion the "preservation of evidence
relating to sexual abuse in the Archdiocese of Milwaukee" and
claim that they have specific concern for the loss of the
testimony of the Requested Examinees because they are more than
75 years old.

"The Movants provide no authority for their position that it is
proper to immediately take the Examinations to preserve evidence
based exclusively on the age of an examinee," Mr. Diesing notes.
He adds that "the Debtor already has an affirmative obligation to
inform the Committee should it learn that the testimony of any
individual may be imminently lost due to death or mental or
physical impairment or health or disability."

For this reason alone, the Rule 2004 Motion is completely
unnecessary in light of the Court's direction that the
Archdiocese must communicate with Bishop Sklba and Archbishop
Weakland on a monthly basis, confirming with them that they have
had no adverse health events, and immediately report to the
Movants and the Court should the Debtor learn that the testimony
of either may be imminently lost, Mr. Diesing asserts.

Furthermore, the Archdiocese argues that while it is true that
the scope of Rule 2004 examinations is generally broad, it is
equally true that Rule 2004 examinations may not be used to
annoy, embarrass or oppress the party being examined.  He tells
the Court that Mr. Anderson, previously widely publicized
transcripts and videos of Archbishop Weakland's 2008 deposition
in violation of an agreement with opposing counsel and applicable
Wisconsin Rules of Professional Conduct.

" Given the procedural infirmity of the Rule 2004 Motion and the
absence of any legal grounds to conduct claim discovery at this
time, it is fair to ask whether the real purpose of the Rule 2004
Motion is not to preserve evidence, but rather to embarrass the
Debtor," Mr. Diesing says.

                    Jeff Anderson Responds

"In each of its filings the [Archdiocese] appears intent on
attempting to make these proceedings about Jeff Anderson and his
firm rather than focusing on the merits of any of the disputes.
The ADOM's latest attempt is not only unfounded but it is also
highly offensive," Mr. Anderson contends.

There was no agreement to keep Archbishop Weakland's deposition
confidential, Mr. Anderson argues in response to the
Archdiocese's statement regarding the posting of transcripts and
videos of Archbishop Weakland's 2008 deposition.

                 R. Elliott Answers Archdiocese

Robert L. Elliott, Esq., in Milwaukee, Wisconsin, counsel for
certain victim unsecured creditors responds to the Archdiocese's
Objection.

In his response, Mr. Elliott points out that the Debtor will
itself interview Bishop Sklba and Archbishop Weakland and ask
whether they know the names of any abuse survivors not already
identified.

For this reason, the request of document production will be of no
use in uncovering additional unknown abuse survivors, Mr. Elliott
says.  He explains that allowing the Archdiocese to conduct the
interview alone only offers solace to the Court and to parties-
in-interest only if it is believed that "the fox will diligently
guard the hen house."

He asserts that the only true way to secure a complete answer to
the moving parties' necessary inquiries is to allow the moving
parties to make those inquiries of the Archdiocese, Bishop Sklba
and Archbishop Weakland under oath.

The Archdiocese pointed out that the Committee and Mr. Anderson,
while claiming that it is critical to preserve evidence, do not
request an examination of any abuse survivors, many of whom may
actually be in poor health.

In response, Mr. Elliott points out that the risk of not
preserving the evidence so as not to be able to present it later
is only to the Committee and Mr. Anderson.

"It would only work to the Debtor's benefit, and to the Movants'
detriment if the Movants failed to preserve such evidence and not
have it available for use in subsequent proceedings," Mr. Elliott
says.  "That is the risk that the Movants are willing to accept."

However, he tells the Court that the Committee and Mr. Anderson
are not willing to accept that the evidence they do not control,
like the evidence from the Requested Examinees and the documents
from the Archdiocese, will be preserved by the Archdiocese and
available for the Committee's and Mr. Anderson's use at a later
date.

For these reasons, he asks the Court to grant the Rule 2004
Motion.

               Committee and Mr. Anderson Answer
                    Archdiocese's Objections

"The Debtor's Objection levies a disturbing and wrongheaded
attack against the Committee, which the Committee must confront
head on before addressing issues specific to the Motion," James
I. Stang, Esq., at Pachulski Stang Ziehl & Jones LLP, in Los
Angeles, California, says.

In the Archdiocese's Objection, it baselessly contends that the
Committee is doing Mr. Anderson's bidding by bringing the Rule
2004 Motion, Mr. Stang notes.  He points out that in this way,
the Archdiocese impugns the Committee's commission of its
obligations in the bankruptcy case without any basis for doing
so.

Mr. Stang contends that the Committee and its counsel have an
obligation to protect sex abuse survivors and other unsecured
creditors in the bankruptcy case.  He explains that the Committee
filed the Rule 2004 Motion to do just that in an effort to
preserve evidence relating to sexual abuse in the Archdiocese of
Milwaukee.

Mr. Stang relates that as much as the Archdiocese tries to
distract and distance itself from reality, the bankruptcy case
has everything to do with sex abuse.  He notes that:

  * potential liability for sex abuse claims prompted the
    bankruptcy filing; and

  * resolution of sex abuse claims -- both in monetary and non-
    monetary ways -- is essential to the reorganization of the
    Debtor.

"Thus, the Debtor's harangue that the Examinations are nothing
more than Anderson's attempts to continue discovery in the state
court cases is simply bombast," Mr. Stang argues.

He notes that Mr. Anderson has been litigating sex abuse cases
against the Archdiocese for several years and likely knows more
about the cases and the Archdiocese's treatment of sex abuse
claims and perpetrators than anyone.

The Committee seeks to leverage the knowledge of sex abuse in the
Archdiocese by having Mr. Anderson take the Examinations to
preserve evidence that is critical to the bankruptcy case
concerning who perpetrated abuse, what the Debtor knew about that
abuse and when, and whether survivors of abuse who have not
received notice of the February 1, 2012 abuse bar date in this
case can be provided notice of that deadline, Mr. Stang asserts.

In addition, Mr. Stang argues that the sex abuse issues are
bankruptcy case issues and the Committee has an obligation to
preserve information because it will be critical in these aspects
of the case:

  -- the Committee intends that any plan of reorganization in
     the case will involve the recognition of sex abuse in the
     Archdiocese by the inclusion of non-monetary components of
     plan acknowledging the truth of the abuse;

  -- as part of funding a plan, at least partially through
     payments from the Debtor's insurers, Committee counsel's
     experience in other diocesan bankruptcy cases teaches that
     those insurers will require information regarding abuse in
     the Archdiocese and the Debtor's knowledge of that abuse;

  -- the information is important to preserve in the event that
     any party in interest objects to claims, particularly on a
     statute of limitations ground that will require evidence of
     what the Debtor knew about sex abuse and when.

Mr. Anderson's involvement in taking these Examinations to
preserve testimony concerning the identity of abusers, the
identity of survivors, and the Archdiocese's knowledge about the
abuse is a boon to the estate because Mr. Anderson is not
employed in the bankruptcy case, Mr. Stang notes.

                Court Approves Rule 2004 Motion
                   Subject to Certain Grounds

At a hearing held on August 12, 2011, the Court granted the Rule
2004 Motion to examine Archbishop Weakland, Bishop Sklba, and Mr.
Budzynski, but established certain ground rules in connection
with the examinations.

Depositions of the Deponents may be scheduled during the weeks of
October 17, 2011, and October 24, 2011. The subject of the
depositions are limited to:

  (1) who perpetrated sexual abuse in the Archdiocese of
      Milwaukee;

  (2) what the Debtor knew about that abuse and when; and

  (3) whether there are additional survivors of that abuse who
      have not received notice of the February 1, 2012 claims
      bar date in this case.

These are the only depositions of the Deponents on these three
subjects that the Committee, Mr. Anderson's clients, Mr.
Elliott's clients and Attorney Smith's clients will be permitted
to conduct.  Depositions are limited to a total of seven hours
for each Deponent and may be held over two days.  The parties
will notify the Court of the dates and times of the depositions
to ensure that the Court will be available to resolve any
disputes.  Depositions may be conducted by video, and the written
transcripts will be filed with the Court and made accessible only
to parties to the case.  The Court instructed that neither the
Committee, Mr. Anderson, nor any of the other parties should
disseminate the transcripts or videos without further order of
the Court.

In addition, the Court ordered to the Archdiocese to produce
documents asked by the Committee.

                About the Archdiocese of Milwaukee

The Diocese of Milwaukee was established on Nov. 28, 1843, and
was elevated to an Archdiocese on Feb. 12, 1875, by Pope Pius
IX.  The region served by the Archdiocese consists of 4,758 square
miles in southeast Wisconsin which includes counties Dodge, Fond
du Lac, Kenosha, Milwaukee, Ozaukee, Racine, Sheboygan, Walworth,
Washington and Waukesha.  There are 657,519 registered Catholics
in the Region.

The Catholic Archdiocese of Milwaukee, in Wisconsin, filed for
Chapter 11 bankruptcy protection (Bankr. E.D. Wisc. Case No.
11-20059) on Jan. 4, 2011, to address claims over sexual abuse
by priests on minors.

The Archdiocese became at least the eighth Roman Catholic diocese
in the U.S. to file for bankruptcy to settle claims from current
and former parishioners who say they were sexually molested by
priests.

Daryl L. Diesing, Esq., at Whyte Hirschboeck Dudek S.C., in
Milwaukee, Wisconsin, serves as the Archdiocese's counsel.  The
Official Committee of Unsecured Creditors in the bankruptcy case
has retained Pachulski Stang Ziehl & Jones LLP as its counsel, and
Howard, Solochek & Weber, S.C., as its local counsel.

The Archdiocese estimated assets and debts of $10 million to
$50 million in its Chapter 11 petition.

(Catholic Church Bankruptcy News; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000)


CATHOLIC CHURCH: Vatican Releases Documents in Sex Abuse Case
-------------------------------------------------------------
Pursuant to a federal court ruling in Portland in a sex abuse
case, the Vatican released documents numbering thousands of pages
in support of its contention that the priest accused in the case
is not its employee, The Associated Press reports.

The papers are to be used by prosecution to help prove that
Rev. Andrew Ronan, the accused, is an employee of the Vatican.
If proven that he is an employee, a case against the Holy See can
go forward, AP says.

The material released consists of:

-- More than 1,800 pages of documents, most in the public
    domain, in response to requests for information about how
    priests are trained and governed.

-- Legal arguments in which the Vatican reiterates its
    contention that Rev. Ronan was not an employee of the
    Vatican and objects to questions raised by the plaintiffs on
    a number of grounds that also include First Amendment
    rights.

The lawsuit was filed by Jeff Anderson on behalf of an unnamed
plaintiff against Mr. Ronan, the Vatican, Mr. Ronan's religious
order, and the Archdiocese's of Chicago and Portland.

It is the first time in history that the Vatican released papers
in connection with a sexual abuse case.

                   About Archdiocese of Portland

The Archdiocese of Portland in Oregon filed for Chapter 11
protection (Bankr. Ore. Case No. 04-37154) on July 6, 2004.
Thomas W. Stilley, Esq., and William N. Stiles, Esq., at Sussman
Shank LLP, represent the Portland Archdiocese in its restructuring
efforts.  Albert N. Kennedy, Esq., at Tonkon Torp, LLP, represents
the Official Tort Claimants Committee in Portland, and scores of
abuse victims are represented by other lawyers.  David A. Foraker
serves as the Future Claimants Representative appointed in the
Archdiocese of Portland's Chapter 11 case.  In its Schedules of
Assets and Liabilities filed with the Court on July 30, 2004, the
Portland Archdiocese reports $19,251,558 in assets and
$373,015,566 in liabilities.

The Court approved the Debtor's disclosure statement explaining
its Second Amended Joint Plan of Reorganization on February 27,
2007.  (Catholic Church Bankruptcy News; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000).


CAVIATA ATTACHED: Wants Until Aug. 30 to File Schedules
-------------------------------------------------------
Caviata Attached Homes, LLC, asks the U.S. Bankruptcy Court for
the District of Nevada to extend until Aug. 30, 2011, the time to
file its schedules of assets and liabilities and statement of
financial affairs.

The Debtor relates that it has commenced the gathering of
information to complete the required financial disclosures, and it
needs additional time to adequately prepare accurate statements
and schedules.

Reno, Nevada-based Caviata Attached Homes LLC 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.


CAVIATA ATTACHED: Seeks to Hire Alan R. Smith as Counsel
--------------------------------------------------------
Caviata Attached Homes, LLC, seeks authority from the U.S.
Bankruptcy Court for the District of Nevada to employ the Law
Offices of Alan R. Smith as its attorneys of record.

The Debtor relates that it was previously represented by the Firm
in a Chapter 11 case that concluded by confirmation on Apr. 12,
2010.

As counsel, the firm has agreed to:

     * render legal advice with respect to the powers and duties
       of the Debtor that continues to operate its business and
       manage its properties as debtor-in-possession;

     * negotiate, prepare, and file a plan or plans of
       reorganization and disclosure statements in connection
       with the plans, and otherwise promote the financial
       rehabilitation of the Debtor;

     * take all necessary action to protect and preserve the
       Debtor's estate;

     * prepare, on behalf of the Debtor, all necessary
       applications, motions, answers, orders, reports and papers
       in connection with the administration of the Debtor's
       estate, and appear on behalf of the Debtor at all Court
       hearings in connection with the Debtor's case;

     * render legal advice and perform general legal services in
       connection with the Services; and

     * perform all other necessary legal services in connection
       with the Chapter 11 case.

The Debtor has agreed to compensate the firm in accordance with
its customary hourly rates:

         Alan R. Smith                             $500
         John J. Gezelin, contract attorney        $350
         Peggy L. Turk, paraprofessional           $205
         Other paraprofessional services     $95 - $115

The Debtor paid a $10,000 advance retainer to the firm for the
commencement of the Chapter 11 case.  According to the Debtor, the
source of these funds was a capital contribution from one of the
owners, Pacific West Capital Group, LLC.  The firm has not been
retained for prepetition services other than pre-bankruptcy and
bankruptcy-related services.

The Debtor believes that the firm does not hold or represent an
interest adverse to the estate and that the members are
disinterested persons as defined in Section 101(14) of the
Bankruptcy Code.

The firm can be contacted at:

          Alan R. Smith, Esq.
          LAW OFFICES OF ALAN R. SMITH
          505 Ridge Street
          Reno, Nevada 89501
          Tel: (775) 786-4579
          Fax: (775) 786-3066
          E-mail: mail@asmithlaw.com

A hearing to consider the application is set for Sept. 23, 2011.

                   About Caviata Attached Homes

Reno, Nevada-based Caviata Attached Homes LLC 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.


CENTER FOR SYSTEMS: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Center for Systems Management, Inc.
        3057 Nutley Street, Suite 822
        Fairfax, VA 22031

Bankruptcy Case No.: 11-16101

Chapter 11 Petition Date: August 18, 2011

Court: United States Bankruptcy Court
       Eastern District of Virginia (Alexandria)

Judge: Robert G. Mayer

Debtor's Counsel: Thomas F. DeCaro, Jr., Esq.
                  DECARO & HOWELL, P.C.
                  14406 Old Mill Rd.,#201
                  Upper Marlboro, MD 20772
                  Tel: (301) 464-1400
                  E-mail: tfd@erols.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/vaeb11-16101.pdf

The petition was signed by Kenneth Mosteller, president.


CENTRAL FALLS, R.I.: Receiver Fires 2 Dept. Heads, Solicitor
------------------------------------------------------------
W. Zachary Malinowski at projo.com reports that Robert G. Flanders
Jr., the state-appointed receiver for the city of Central Falls,
Rhode Island, has dropped two department directors and a city
solicitor in his continuing effort to slash city expenses.

According to projo.com, the layoffs of Kenneth J. Slowik, director
of code enforcement; Kenneth A. Vaudreuil, recycling coordinator;
and Matthew T. Oliverio, assistant city solicitor, will save the
city about $165,000 this year.

projo.com relates that the layoffs are the first significant
personnel cuts since bankruptcy proceedings began earlier this
month.  In June, projo.com recounts, Mr. Flanders closed down the
Central Falls Free Public Library and the Ralph J. Holden
Community Center, dropping 12 city employees -- 6 full and 6 part-
time -- from the city payroll.  Those cuts are expected to save
the city about $400,000.

Staffed by volunteers, the library has now reopened with reduced
hours by the trust that owns the building, according to projo.com.

                       About Central Falls

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

Central Falls sought bankruptcy protection under Chapter 9 of the
U.S. Bankruptcy Code (Bankr. D. R.I. Case No. 11-13105) on Aug. 1,
2011.  The Chapter 9 filing was made after former Rhode Island
Supreme Court Judge Robert Flanders, who serves as state-appointed
receiver for the city, was unable to negotiate significant
concessions from unions representing police officers, firefighters
and other city workers.  The city grappled with an $80 million
unfunded pension and retiree health benefit liability that is
nearly quadruple its annual budget of $17 million.  Judge Robert
Flanders succeeded the role from retired Superior Court Associate
Justice Mark A. Pfeiffer, who was appointed in July 2010.  The
Central Falls receivership, the state's first, has left the mayor
and council without any power to govern.

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


CHEMTURA CORP: Settles Coal Tar Pitch Claims for $4.7 Million
--------------------------------------------------------------
Pete Brush at Bankruptcy Law360 reports that formerly bankrupt
Chemtura Corp. on Tuesday reached a $4.7 million settlement in
New York with 37 Chapter 11 claimants who said they were injured
by exposure to coal tar pitch, a hazardous residue produced during
the distillation of coal tar.

Law360 relates that U.S. Bankruptcy Judge Robert E. Gerber signed
off on the deal, discharging Chemtura from contribution claims but
preserving the rights of the claimants to pursue other defendants
in coal tar pitch suits pending in the Court of Common Pleas of
Allegheny County, Pa.

                        About Chemtura Corp.

Based in Middlebury, Connecticut, Chemtura Corporation --
http://www.chemtura.com/-- with 2008 sales of $3.5 billion, is a
global manufacturer and marketer of specialty chemicals, crop
protection products, and pool, spa and home care products.

Chemtura Corporation and 26 of its U.S. affiliates filed voluntary
petitions for relief under Chapter 11 (Bankr. S.D.N.Y. Case No.
09-11233) on March 18, 2009.  The Debtors disclosed total assets
of $3.06 billion and total debts of $1.02 billion as of the
Chapter 11 filing.

Chemtura completed its financial restructuring and emerged from
protection under Chapter 11 in November 2010.  In connection with
the emergence, reorganized Chemtura is now listed on the New York
Stock Exchange under the ticker "CHMT".

M. Natasha Labovitz, Esq., at Kirkland & Ellis LLP, in New York,
served as bankruptcy counsel for the Debtors.  Wolfblock LLP was
the Debtors' special counsel.  The Debtors' auditors and
accountant were KPMG LLP; their investment bankers are Lazard
Freres & Co.; their strategic communications advisors were Joele
Frank, Wilkinson Brimmer Katcher; their business advisors were
Alvarez & Marsal LLC and Ray Dombrowski served as their chief
restructuring officer; and their claims and noticing agent was
Kurtzman Carson Consultants LLC.

The Official Committee of Equity Security Holders tapped
Jay Goffman, Esq., and David Turetsky, Esq., at Skadden Arps Slate
Meagher & Flom LLP, in New York, as counsel.  the Official
Committee of Unsecured Creditors retained Daniel H. Golden, Esq.,
Philip C. Dublin, Esq., and Meredith A. Lahaie, Esq., at Akin Gump
Strauss Hauer & Feld LLP, in New York, as counsel.


CIE COOPERATIVE: Trustee's Suit Over T-Shirts Goes to Trial
-----------------------------------------------------------
The lawsuit commenced by Richard E. Barber, as trustee of the
estate of Central Illinois Energy Cooperative, against Camille's
of Canton, Inc., will proceed to trial after Chief Bankruptcy
Judge Thomas L. Perkins denied cross motions for summary judgment,
saying a genuine issue of material fact exists.  The suit seeks to
recover $4,189.99 paid for the purchase of 195 custom-made shirts
with the logo "Central Illinois Energy" with the words "Pure
energy. Homegrown" printed below, which were worn by Central
Illinois Energy employees.  The shirts were paid for by CIE
Cooperative. The Trustee asserts that the payment constitutes a
fraudulent transfer.

The case is RICHARD E. BARBER, not individually, but as trustee
for the estate of Central Illinois Energy Cooperative, v.
CAMILLE'S OF CANTON, INC., an Illinois corporation, Adv. Proc. No.
10-8017 (Bankr. C.D. Ill.).  A copy of Judge Perkins' Aug. 22,
2011 Opinion is available at http://is.gd/0x9kLUfrom Leagle.com.

Central Illinois Energy Cooperative owned a controlling interest
in Central Illinois Holding Company, LLC, the holding company for
Central Illinois Energy, LLC, the entity formed in 2005 for the
purpose of constructing, owning and operating an ethanol
production facility and waste-coal fired power generating
facility.  CIE Cooperative, an agricultural cooperative formed
under Illinois law, comprised of farmers in the Central Illinois
area, was formed to own and operate a grain handling facility and
to sell its members' corn to CIE for processing into ethanol and
other byproducts.

After the construction project encountered financial difficulties,
CIE Cooperative transferred substantially all of its assets,
including the grain handling facility and numerous corn delivery
contracts, to Green Lion Bio-Fuels, LLC, on June 12, 2007.  Delays
and cost overruns continued to plague the project and the general
contractor ceased working on the ethanol plant in November 2007.
CIE filed a Chapter 11 petition Dec. 13, 2007, and an order for
conversion to Chapter 7 was entered Aug. 4, 2008.  Pursuant to
sections 363(b) and (f) of the Bankruptcy Code, substantially all
of CIE'S assets were sold to New CIE Energy Opco, LLC, by order
entered April 24, 2008.

A Chapter 11 involuntary petition was filed against CIE
Cooperative (Bankr. C.D. Ill. Case No. 09-81409) on May 1, 2009.
HWS Energy Partners, LLC, the petitioning creditor, was
represented by Douglas S. Slayton, Esq. -- dslayton@hwsenergy.com
CIE Cooperative did not file an answer and an order for relief was
entered on June 18, 2009.  The case was converted to Chapter 7 on
July 16, 2009, on the motion of the U.S. Trustee.  Richard E.
Barber was appointed as Chapter 7 trustee.


CIMA, L.L.C.: Case Summary & 6 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: CIMA, L.L.C.
        1637 S.E. 12th Court
        Fort Lauderdale, FL 33316

Bankruptcy Case No.: 11-33279

Chapter 11 Petition Date: August 22, 2011

Court: U.S. Bankruptcy Court
       Southern District of Florida (Fort Lauderdale)

Judge: Raymond B. Ray

Debtor's Counsel: Leslie Gern Cloyd, Esq.
                  BERGER SINGERMAN, P.A.
                  350 E. Las Olas Boulevard, #1000
                  Ft. Lauderdale, FL 33301
                  Tel: (954) 525-9900
                  Fax: (954) 523-2872
                  E-mail: lcloyd@bergersingerman.com

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

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

The petition was signed by J. Marion Uter, manager.

Debtor's List of six Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Alford, Clause & McDonald, LLC     Assignment             $775,000
One St. Louis Centre, Suite 3100
Mobile, AL 36602

Shelby Concrete Company, Inc.      Assignment             $158,480
c/o Mark P. Williams, Esq.
Norman, Wood, Kendrick & Turner
505 Twentieth Street North
Birmingham, AL 35203

Stuart C. Irby Company             Assignment             $115,169
c/o Mark P. Williams, Esq.
Norman, Wood, Kendrick & Turner
505 Twentieth Street North
Birmingham, AL 35203

Beard Equipment Company, Inc.      Assignment              $49,710

Cowin Equipment Company, Inc.      Assignment              $28,000

Morgan, Michael G.                 Assignment              $21,350


CLARK THOMAS: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Clark, Thomas & Winters, P.C.
        fka Clark, Thomas, Winters & Newton, P.C.
        P.O. Box 1148
        Austin, TX 78767

Bankruptcy Case No.: 11-12059

Chapter 11 Petition Date: August 19, 2011

Court: United States Bankruptcy Court
       Western District of Texas (Austin)

Judge: Craig A. Gargotta

Debtor's Counsel: Joseph D. Martinec, Esq.
                  MARTINEC, WINN, VICKERS & MCELROY, P.C.
                  600 Congress Avenue, Suite 500
                  Austin, TX 78701
                  Tel: (512) 476-0750
                  Fax: (512) 476-0753
                  E-mail: martinec@mwvmlaw.com

Scheduled Assets: $4,257,185

Scheduled Debts: $26,395,512

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/txwb11-12059.pdf

The petition was signed by L. Parker McNeill, authorized
representative.


CLAYTON COUNTY: S&P Lowers Rating on Housing Bonds to 'B-'
----------------------------------------------------------
Standard & Poor's Ratings Services lowered its rating on Clayton
County Housing Authority, Ga.'s (Williamsburg South Apartments
Project) multifamily housing bonds series 2002A to 'B-' from
'BB'. The outlook is negative.

"The rating actions are based on our view of the project's
reliance on short-term market rate investments," said Standard &
Poor's credit analyst Renee J. Berson.

The rating reflects S&P's view of:

    Revenues from mortgage debt service payments and investment
    earnings are insufficient to pay full and timely debt service
    on the bonds plus fees until maturity;

    Debt service coverage is projected to fall below investment-
    grade levels beyond April 2015; and

    Asset/liability parity is projected to fall below 100% in
    2021.

Credit strengths in the issue include S&P's opinion of:

    Investments held in First American Treasury Obligations Fund
    Class D money market fund (AAAm); and

    "The high credit quality of the Fannie Mae pass-thru
    certificate, which we consider to be 'AAA+' eligible," S&P
    said.

Standard & Poor's has analyzed updated financial information based
on its current stressed reinvestment rate assumptions for all
scenarios as set forth in the criteria for certain federal
government-enhanced housing transactions. "We believe the bonds
are unable to meet all bond costs from transaction revenues until
maturity, assuming these reinvestment earnings," S&P related.


CLEAR CREEK: Seeks to Tap Allen Matkins as Reorganization Counsel
-----------------------------------------------------------------
Clear Creek Ranch II, LLC, and Clear Creek at Tahoe, LLC, seek
authority from the U.S. Bankruptcy Court for the District of
Nevada to employ Allen Matkins Leck Gamble Mallory & Natsis LLP as
their general reorganization counsel, effective as of July 18,
2011.

The firm's services will include:

     * Advise the Debtors generally regarding matters of
       bankruptcy law;

     * Advise the Debtors generally in the management of their
       businesses;

     * Represent the Debtors in adversary proceedings, contested
       matters, and administrative hearings, and in any actions
       where the rights of the Debtors or their estates may be
       litigated or affected;

     * Advise the Debtors concerning the rights and remedies of
       their estates, including matters relating to their assets
       with to the claims of creditors;

     * Conduct examinations of witnesses, claimants, or adverse
       parties as the cases may require;

     * Prepare and assist in the preparation of reports,
       accounts, applications, motions, and orders;

     * Represent the Debtors in negotiations with creditors,
       members, affiliated entities, governmental entities, and
       other parties-in-interest;

     * Assist the Debtors in the formulation, preparation, and
       confirmation of their plan of reorganization; and

     * Advise the Debtors regarding the numerous other legal
       questions and problems, which may arise in a Chapter 11
       case.

The Debtors relate that certain members of CCT, including the A. &
C. Horn Trust, the James S. Taylor and Denise G. Taylor
Living Trust, and the Leo Hanly Revocable Trust have agreed to
contribute necessary funds.

The firm was a creditor of the Debtors until shortly before the
Petition Date.  On July 15, 2011, The A. and C. Horn Trust -- a
member of CCT -- agreed to pay the Firm $295,000 to acquire the
Firm's approximate $213,000 claim against CCR II, its approximate
$4,000 claim against CCT, and its claims against other affiliated
companies.  No funds of the Debtors were involved in this
transaction, and there was no effect on the Debtors' financial
situation other than a change in the identity of one of their
creditors.  The A. and C. Horn Trust may assert the claims against
the Debtors as general unsecured claims.  If the Debtors require
legal assistance with respect to those claims, local counsel Amy
Tirre, and not the Firm, will represent the Debtors, the Debtors
tell the Court.

The Debtors further disclose that before the Petition Date, the
firm received an "Initial Contribution" of $700,000 from the Horn
Trust.  The Initial Contribution was made for the benefit of both
Debtors.  A portion of the Initial Contribution was used to pay
the Firm's prepetition fees and costs.  On and just before the
Petition Date, the Firm had rendered professional services to the
Debtors and incurred related costs in the amount of $47,905.  The
Firm paid itself and reduced the credit for the Initial
Contribution accordingly.  The Debtors were jointly and severally
liable for this amount, so each is now indebted to The Horn Trust
for that amount, although the total liability between them does
not exceed that amount.

The balance of the Initial Contribution, $652,095, was deposited
into the Firm's noninterest-bearing client trust account.  As a
portion of the Initial Contribution -- or subsequent contributions
-- is paid to the Firm as compensation and reimbursement for
services to the Debtors, the Contributors' loan to the Debtors
will increase accordingly.  Thus, to the extent that this
arrangement technically constitutes a postpetition loan from the
Contributors to the Debtors, the Debtors ask for approval of the
loan under Section 364 of the Bankruptcy Code.

According to the Debtors, the Contributors have agreed to fund not
just the Initial Contribution but all amounts needed to pay the
fees and expenses of the Firm, local counsel to the Debtors, and
any other Debtors' professionals.  The Contributors have agreed
that if the balance in the Firm's trust account falls below
$250,000, they will make an additional contribution to restore the
balance to $750,000.

The Debtors will pay the firm according to its standard billing
rates and reimburse the firm for reasonable expenses.  The current
hourly rates of lawyers expected to be primarily involved in this
case are:

         Vincent M. Coscino                        $680
         Thomas E. Gibbs                           $620
         Robert R. Barnes                          $620
         Michael S. Greger                         $620
         Paul D. O'Connor                          $610
         Brian Bauer                               $415
         Richard M. Dinets                         $305

The Debtors believe that the fFirm does not hold or represent an
interest adverse to the bankruptcy estate and that it is a
disinterested person.

                    About Clear Creek Ranch II

Minden, Nevada-based Clear Creek Ranch II LLC owns a 530.74-acre
undeveloped residential subdivision located within the project
known as Clear Creek.  That project included a world-class golf
course, the residential subdivision around the golf course, a lake
house on Lake Tahoe and a fly fishing ranch along the West Walker
River.  The co-developers and joint venturers of the Project are
CCR II's affiliate, Clear Creek at Tahoe LLC, and entities
affiliated with Nevada businessman John Serpa, Sr., and his sons.

Clear Creek Ranch II and Clear Creek at Tahoe filed separate
Chapter 11 bankruptcy petitions (Bankr. D. Nev. Case Nos. 11-52302
and 11-52303) on July 18, 2011.  Judge Bruce T. Beesley presides
over the cases.

The Debtors' counsel can be reached at:

         Thomas E. Gibbs, Esq.
         Vincent M. Coscino, Esq.
         Brian R. Bauer, Esq.
         ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS LLP
         1900 Main Street, Fifth Floor
         Irvine, CA 92614-7321
         Tel: (949) 553-1313
         Fax: (949) 553-8354
         E-mail: tgibbs@allenmatkins.com
                 vcoscino@allenmatkins.com
                 bbauer@allenmatkins.com

The Law Offices of Amy N. Tirre serves as the Debtors' local
counsel.

In its petition, Clear Creek Ranch II estimated assets and debts
of $10 million to $50 million.  The petitions were signed by James
S. Taylor, the Trustee.


CLEAR CREEK: Seeks to Hire Amy N. Tirre as Local Counsel
--------------------------------------------------------
Clear Creek Ranch II, LLC and Clear Creek at Tahoe, LLC ask the
U.S. Bankruptcy Court for the District of Nevada to employ the Law
Offices of Amy N. Tirre, APC as their local reorganization
counsel, effective as of July 18, 2011.

As local counsel, the firm will:

     * advise the Debtors generally regarding matters of
       bankruptcy law;

     * advise the Debtors generally in the management of their
       businesses;

     * represent the Debtors in adversary proceedings, contested
       matters, and administrative hearings, and in any actions
       where the rights of the Debtors or their estates may be
       litigated or affected;

     * advise the Debtors concerning the rights and remedies of
       their estates, including matters relating to their assets
       with respect to the claims of creditors;

     * conduct examinations of witnesses, claimants, or adverse
       parties as the cases may required;

     * prepare and assist in the preparation of reports,
       accounts, applications, motions, and orders;

     * represent the Debtors in negotiations with creditors,
       members, affiliated entities, governmental entities, and
       other parties-in-interest;

     * assist the Debtors in the formulation, preparation, and
       confirmation of their plan of reorganization; and

     * advise the Debtors regarding the numerous other legal
       questions and problems, which may arise in a Chapter 11
       case.

The Debtors relate that certain members of CCT, including the A. &
C. Horn Trust, the James S. Taylor and Denise G. Taylor
Living Trust, and the Leo Hanly Revocable Trust have agreed to
contribute necessary funds.

Before the Petition Date, the firm received an "Initial
Contribution" from the Horn Trust of $50,000.  The Initial
Contribution was made for the benefit of both Debtors.  A portion
of the Initial Contribution was used to pay the Firm's prepetition
fees and costs.  On and just before the Petition Date, the firm
had rendered professional services to the Debtors and incurred
related costs in the amount of $7,715, the Debtors inform the
Court.

The balance of the Initial Contribution, $42,285, was deposited
into the firm's non-interest-bearing client trust account.  As a
portion of the Initial Contribution -- or subsequent
Contributions -- is paid to the Firm as compensation and
reimbursement for services to the Debtors, the Contributors' loan
to the Debtors will increase accordingly.  Thus, to the extent
that this arrangement technically constitutes a postpetition loan
from the Contributors to the Debtors, the Debtors ask for approval
of the loan under Section 364 of the Bankruptcy Code.

The firm paid itself and reduced the credit for the Initial
Contribution accordingly.  The Debtors were jointly and severally
liable for this amount, so each is now indebted to The Horn Trust
for that amount, although the total liability between them does
not exceed that amount.  According to the Debtors, the
Contributors have agreed to fund not just the Initial Contribution
but all amounts needed to pay the fees and expenses of the Firm,
local counsel to the Debtors, and any other Debtors'
professionals.

The Contributors have agreed that if the balance in the Firm's
trust account falls below $10,000, they will make an additional
contribution to restore the balance to $50,000.

The Firm will be paid its standard hourly rates and reimbursed of
reasonable expenses.  The hourly rates of the attorneys initially
assigned to this matter are:

           Amy N. Tirre                $325
           Paralegal                   $125

The Debtors believe that the Firm does not hold or represent an
interest adverse to the bankruptcy estate and that it is a
disinterested person.

                    About Clear Creek Ranch II

Minden, Nevada-based Clear Creek Ranch II LLC owns a 530.74-acre
undeveloped residential subdivision located within the project
known as Clear Creek.  That project included a world-class golf
course, the residential subdivision around the golf course, a lake
house on Lake Tahoe and a fly fishing ranch along the West Walker
River.  The co-developers and joint venturers of the Project are
CCR II's affiliate, Clear Creek at Tahoe LLC, and entities
affiliated with Nevada businessman John Serpa, Sr., and his sons.

Clear Creek Ranch II and Clear Creek at Tahoe filed separate
Chapter 11 bankruptcy petitions (Bankr. D. Nev. Case Nos. 11-52302
and 11-52303) on July 18, 2011.  Judge Bruce T. Beesley presides
over the cases.  The Debtors are represented by:

         Thomas E. Gibbs, Esq.
         Vincent M. Coscino, Esq.
         Brian R. Bauer, Esq.
         ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS LLP
         1900 Main Street, Fifth Floor
         Irvine, CA 92614-7321
         Tel: (949) 553-1313
         Fax: (949) 553-8354
         E-mail: tgibbs@allenmatkins.com
                 vcoscino@allenmatkins.com
                 bbauer@allenmatkins.com

In its petition, Clear Creek Ranch II estimated assets and debts
of $10 million to $50 million.  The petitions were signed by James
S. Taylor, the Trustee.


COLLEGE CORNER: Case Summary & 14 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: College Corner, L.L.C.
        530 Sundown Drive
        Independence, MO 64054

Bankruptcy Case No.: 11-43879

Chapter 11 Petition Date: August 18, 2011

Court: United States Bankruptcy Court
       Western District of Missouri (Kansas City)

Judge: Arthur B. Federman

Debtor's Counsel: Bryan Bacon, Esq.
                  VAN MATRE HARRISON VOLKERT & HOLLIS
                  1103 E Broadway
                  Columbia, MO 65201
                  Tel: (573) 874-7777
                  Fax: (573) 875-0017
                  E-mail: bryan@vanmatre.com

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

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

A list of the Company's 14 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/mowb11-43879.pdf

The petition was signed by Paxton A. Schneider, manager.


COINSTAR INC: S&P Cuts Rating on $200-Mil. Senior Notes to 'BB-'
----------------------------------------------------------------
Standard & Poor's Ratings Services revised the issue-level ratings
on Bellevue, Wash.-based Coinstar Inc.'s $200 million 4%
convertible senior notes to 'BB-' from 'BB+'. "At the same time,
we revised our recovery rating to '6' from '4'. The '6' recovery
rating indicates that lenders should receive a negligible (0%-10%)
recovery of principal in the event of a default," S&P related.

"The change in our recovery analysis reflects our revised
expectation of the recovery prospects because of the addition of
$225 million in secured debt following Coinstar's recent bank
facility refinancing," S&P stated.

Coinstar's capital structure is: a $625 million senior credit
facility (unrated) due in 2016 (which includes a $450 million
revolving credit facility and a $175 million term loan A), and
$200 million convertible senior notes due 2014.

"Our 'BB+' corporate credit rating and stable outlook on Coinstar
remain unchanged," S&P related.

Ratings List

Coinstar Inc.
Corporate credit rating      BB+/Stable/--

Downgraded; Recovery Rating Revised
                              To              From
Coinstar Inc.
Senior unsecured             BB-             BB+
   Recovery rating            6               4


COMMANDER PREMIER: Joel Hartstone Pleads for Public Support
-----------------------------------------------------------
Scott Moyers at the Southeast Missourian reports that Joel
Hartstone of StoneGate Capital Group made an "open letter to the
citizens of Cape Girardeau" pleading for public support.  A full-
text copy of the letter is available for free at:

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

According to the Southeast Missourian, Cape Girardeau city
government was asking a bankruptcy judge to allow it to evict
Commander Premier Aircraft Corp. from city-owned property at the
airport.

The report says it was the latest development in the long story of
Commander, which recently filed for bankruptcy, and Cape
Girardeau, Missouri.  Commander was notified in writing Feb. 15
that it had defaulted on rental payments that had been accruing
since the last payment was made in December 2007 for a hangar
facility at the airport. The city has said Commander owes the city
about $1.2 million.

Joel Hartstone is a former president of Commander, who in 2008 was
tapped to find financing for a purchase of the company.

The report says StoneGate and its principals are major
stockholders and creditors of Commander Premier, which has filed
for Chapter 11 bankruptcy protection.

Based in Tyler, Texas, Commander Premier Aircraft Corporation
filed for Chapter 11 bankruptcy protection (Bankr. E.D. Tex. Case
No. 11-60548) on June 16, 2011.  Jason R. Searcy, Esq., at Searcy
& Searcy P.C. Represents the Debtor.  The Debtor estimated assets
of less than $50,000, and debts between $1 million and
$10 million.


CONFORCE INTERNATIONAL: Incurs US$661,500 Net Loss in June Qtr.
---------------------------------------------------------------
Conforce International, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q reporting a
net loss of US$661,547 for the three months ended June 30, 2011,
compared with a net loss of US$293,015 for the same period a year
ago.

The Company reported a net loss of $2.1 million on $305,824 of
revenue for the fiscal year ended March 31, 2011, compared with a
net loss of $729,903 on $920,937 on revenue for the fiscal year
ended March 31, 2010.

The Company's balance sheet at June 30, 2011, showed US$8.34
million in total assets, US$2.38 million in total liabilities and
US$5.96 million in total stockholders' equity.

BDO Canada LLP expressed substantial doubt about ability to
continue as a going concern.  The independent auditors noted that
the Company has incurred recurring losses.

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

                        http://is.gd/kBoNwD

                    About Conforce International

Headquartered in Concord, Ontario, Canada, Conforce International,
Inc., has been in the shipping container business repairing,
selling or storing containers for over 25 years.  The Company has
been engaged in the research and development of a polymer based
composite shipping container and highway trailer flooring product.
As a result, the Company has developed EKO-FLOR.  The Company is
now outfitting its new manufacturing facility in Peru, Indiana for
the production of EKO-FLOR for the North American highway trailer
market.


CORUS BANKSHARES: Files Plan Supplement
---------------------------------------
BankruptcyData.com reports that Corus Bankshares filed with the
U.S. Bankruptcy Court a Plan Supplement for its Second Amended
Chapter 11 Plan.

BData says the supplement contains these documents:

    * Charter of the Reorganized Debtor;
    * By-Laws of the Reorganized Debtor;
    * List of Rejected Executory Contracts and Unexpired Leases;
    * List of Retained Causes of action;
    * Terms of New Series A Common Stock;
    * Terms of Equity Security to be Issued in Connection with
      the Cash Election Entitlement;
    * Investment Guidelines for the Case Election Entitlement
      Segregated Account;
    * Identity of the Trustee of the Litigation Trust;
    * Identity of the Creditors' Designee; and
    * Correct of Erratum in the Disclosure Statement.

                       About Corus Bankshares

Chicago, Illinois-based Corus Bankshares, Inc., is a bank holding
company.  Its lone operating unit, Corus Bank, N.A., was closed
on Sept. 11, 2009, by regulators, and the Federal Deposit
Insurance Corporation was named receiver.  To protect the
depositors, the FDIC entered into a purchase and assumption
agreement with Chicago-based MB Financial Bank, National
Association, to assume all of the deposits of Corus Bank.

Corus Bankshares sought Chapter 11 protection (Bankr. N.D. Ill.
Case No. 10-26881) on June 15, 2010, disclosing $314,145,828 in
assets and $532,938,418 in liabilities as of the Chapter 11
filing.

Kirkland & Ellis LLP's James H.M. Sprayregen, Esq., David R.
Seligman, Esq., and Jeffrey W. Gettleman, Esq., serve as the
Debtor's bankruptcy counsel.  Kinetic Advisors is the Company's
restructuring advisor.  Plante & Moran is the Company's auditor
and accountant.  Kilpatrick Stockton LLP's Todd Meyers, Esq., and
Sameer Kapoor, Esq.; and Neal Gerber & Eisenberg LLP's Mark
Berkoff, Esq., Deborah Gutfeld, Esq., and Nicholas M. Miller,
Esq., represent the official committee of unsecured creditors.


CROWN ASPHALT: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Crown Asphalt Ridge, LLC
          aka CAR, LLC
        Attn: Soung Joon Kim
        1245 E Brickyard Road, Suite 110
        Salt Lake City, UT 84111

Bankruptcy Case No.: 11-32264

Chapter 11 Petition Date: August 22, 2011

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

Judge: R. Kimball Mosier

Debtor's Counsel: Steven J. McCardell, Esq.
                  DURHAM JONES & PINEGAR
                  111 East Broadway, Suite 900
                  P.O. Box 4050
                  Salt Lake City, UT 84110-4050
                  Tel: (801) 415-3000
                  Fax: (801) 415-3500
                  E-mail: smccardell@djplaw.com

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

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

The petition was signed by Soung Joon Kim, chief operating
officer.

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Uintah Basin Resources, LLC           --                  08/22/11

Debtor's List of 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Kwak, Jae-Yong                     Loan                   $108,077
262 Clinton Street
Paterson, NJ 07522

GEA Westfalia Separator, Inc.      Services                $87,532
100 Fairway Court, P.O. Box 178
Northvale, NJ 07647

Endress + Hauser, Inc.             Services                $61,370
2350 Endress Place
Greenwood, IN 46143

Hychem, Inc.                       Services                $53,071

Process Engineers & Equipment Corp Services                $47,336

Harper Engineering, Inc.           Services                $43,968

C.H. Spencer and Company           Services                $32,508

Zimmerman Engineering Company, Inc.Services                $29,930

Amezquita, Juan                    Services                $27,830

Casadei, Diego                     Services                $27,120

Perez, Nicholas P.                 Services                $26,210

HICO, LLC                          Goods                   $25,903

Airgas Intermountain, Inc.         --                      $25,608

McJunkin Red Man Corporation       Services                $21,832

Contreras, Juan J.                 Services                $21,410

ZIons Bank - Bankcard Center       Loan                    $17,206

Hayward Gordon Limited             Services                $16,391

J-Bar LLC                          Services                $15,957

RMC Welding                        Services                $13,538

Cidra Oilsands, Inc.               Services                $12,249


DEBT RELIEF: FTC to Close Firm Over Scam Claims
-----------------------------------------------
Evan Weinberger at Bankruptcy Law360 reports that the Federal
Trade Commission on Tuesday said Debt Relief USA Inc. would close
permanently as part of a settlement over claims that it scammed
desperate consumers with up-front fees and false promises of
improved credit scores.

Debt Relief USA Inc. -- http://www.drusabankruptcy.com -- is an
Addison debt settlement Company.  Debt Relief USA Inc. filed in
June 2009 for Chapter 11 bankruptcy protection, disclosing
$4.65 million in assets and $5 million in liabilities.


DECOR PRODUCTS: Posts US$1 Million Second Quarter Net Income
------------------------------------------------------------
Decor Products International, Inc., filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q
reporting net income of US$1.06 million on US$5.80 million of net
revenues for the three months ended June 30, 2011, compared with
net income of US$1.58 million on US$7.61 million of net revenues
for the same period during the prior year.

The Company also reported net income of US$1.71 million on
US$10.84 million of net revenues for the six months ended June 30,
2011, compared with net income of US$2.38 million on US$12.88
million of net revenues for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed US$40.44
million in total assets, US$8.57 million in total liabilities and
US$31.86 million in total stockholders' equity.

HKCMCPA Company Limited, in Hong Kong, expressed substantial doubt
about Decor Products International's ability to continue as a
going concern, following the Company's 2010 results.  The
independent auditors noted that as of Dec. 31, 2010, the Company
defaulted on the repayment of convertible notes and promissory
notes with an aggregate amount of $2.2 million ($2.0 million as of
March 31, 2011).

The Company has experienced a delay in assembling the information
required to be included in its June 30, 2011, Form 10-Q Quarterly
Report.  As a result, the Company was late in filing the subject
Quarterly Report.

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

                        http://is.gd/1OD1gt

                       About Decor Products

Decor Products International, Inc., through its subsidiaries,
mainly engages in the manufacture and sale of furniture decorative
paper and related products in the People's Republic of China.  The
Company is headquartered in Chang'an Town, Dongguan, Guangdong
Province, between Shenzhen and Guangzhou in southern China.


DELPHI CORP: DPH Files 2nd Quarter Report With Bankr. Court
-----------------------------------------------------------
DPH Holdings Corp. and its affiliates submitted to Judge Robert
D. Drain of the U.S. Bankruptcy Court for the Southern District
of New York on July 27, 2011, a consolidated operating report for
the quarter period ended June 30, 2011.

DPH Holdings President John C. Brooks disclosed that the
Reorganized Debtors posted an operating loss of $4 million for
the second quarter of 2011.

                 DPH Holdings Corp., et al.
                 Schedule of Disbursements
              Three Months Ended June 30, 2011

DPH Holdings Corp.                            $6,979,000
ASEC Manufacturing General Partnership                 0
ASEC Sales General Partnership                         0
DPH Medical Systems Colorado LLC                       0
DPH Medical Systems Texas LLC                          0
DPH Medical Systems LLC                                0
Specialty Electronics International Ltd.               0
Specialty Electronics, LLC                             0
DPH Mechatronic Systems, LLC                           0
DPH-DAS Overseas LLC                                   0
DPH-DAS (Holding), LLC                                 0
DPH Diesel Systems LLC                                 0
DPH Connection Systems LLC                             0
DPH-DAS Services LLC                                   0
DPH-DAS Human Resources LLC                            0
DPH-DAS LLC                                       17,000

Mr. Brooks explained that disbursements were allocated to the
legal entities but all disbursements are being made by DPH
Holdings Corp.

In connection with the consummation of Delphi Corp.'s Confirmed
Modified First Amended Joint Plan of Reorganization, DIP Holdco
LLP, now known as Delphi Automotive LLP, as assignee of DIP
Holdco 3 LLC, through various subsidiaries and affiliates,
acquired on October 6, 2009, substantially all of the global core
business of Delphi Corp., now known as DPH Holdings Corp. and its
debtor affiliates, including the stock of Delphi Technologies,
Inc., and the membership interests in Delphi China LLC.  Thus,
neither Delphi Technologies, Inc., nor Delphi China LLC is
included in the current quarterly operating report.

Debtor Delphi Technologies, Inc., filed with the Court a separate
operating report for the quarter ended June 30, 2011.

                 Delphi Technologies, Inc.
                 Schedule of Disbursements
            Three Months Ended December 31, 2010

Delphi Technologies, Inc.                     $2,251,662

Delphi Corp. Treasurer Keith D. Stipp stated that operating
expenses plus any applicable cure payments for the quarter ended
June 30, 2011, was used as a proxy for disbursements for Delphi
Technologies, Inc.  Mr. Stipp added that Delphi Technologies had
an operating income of $35 million for the second quarter of
2011.

                        About Delphi Corp.

Based in Troy, Michigan, Delphi Corporation --
http://www.delphi.com/-- was a global supplier of electronics and
technologies for automotive, commercial vehicle and other market
segments.  Delphi operates major technical centers, manufacturing
sites and customer support facilities in 30 countries.

The Company filed for Chapter 11 protection (Bankr. S.D.N.Y. Lead
Case No. 05-44481) on Oct. 8, 2005.  John Wm. Butler Jr., Esq.,
John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden, Arps,
Slate, Meagher & Flom LLP, represented the Debtors in their
restructuring efforts.  Robert J. Rosenberg, Esq., Mitchell A.
Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins LLP,
represented the Official Committee of Unsecured Creditors.  As of
June 30, 2008, the Debtors' balance sheet showed US$9,162,000,000
in total assets and US$23,742,000,000 in total debts.

The Court confirmed Delphi's plan on Jan. 25, 2008.  The Plan
was not consummated after a group led by Appaloosa Management,
L.P., backed out from their proposal to provide US$2,550,000,000
in equity financing to Delphi.  At the end of July 2009, Delphi
obtained confirmation of a revised plan, build upon a sale of the
assets to a entity formed by some of the lenders who provided
$4 billion of debtor-in-possession financing, and General Motors
Company.

On Oct. 6, 2009, Delphi Corp.'s Chapter 11 plan of reorganization
became effective.  A Master Disposition Agreement executed among
Delphi Corporation, Motors Liquidation Company, General Motors
Company, GM Components Holdings LLC, and DIP Holdco 3, LLC,
divides Delphi's business among three separate parties -- DPH
Holdings LLC, GM Components, and DIP Holdco 3.

Delphi emerged from Chapter 11 as DPH Holdings.  DPH Holdings is
responsible for the post-Effective Date administration and
eventual closing of the Chapter 11 cases as well as the
disposition of certain retained assets and payment of certain
retained liabilities as provided under the Modified Plan.

Bankruptcy Creditors' Service, Inc., publishes Delphi Bankruptcy
News.  The newsletter tracks the Chapter 11 proceedings of Delphi
Corp. and its debtor-affiliates.  (http://bankrupt.com/newsstand/
or 215/945-7000


DELPHI CORP: Dist. Court Denies Paul Free's Motion for Judgment
---------------------------------------------------------------
Judge Avern Cohn of the U.S. District Court for Eastern District
of Michigan denied Paul Free's renewed motion for judgment as a
matter of law, or in the alternative for new trial.

On January 13, 2011, a jury in the Delphi securities fraud case
returned a verdict in favor of the U.S. Securities and Exchange
Commission as plaintiff and against defendants J.T. Battenberg,
III, and Paul Free for violating various securities law and
rules.  Judge Cohn entered a partial judgment on liability on
March 8, 2011.

The SEC's case centered on four financial transactions, namely:
(1) the GM Settlement Transaction; (2) the Bank One - Precious
Metals Transaction; (3) the BBK - Cores and Batteries
Transaction; and (4) the EDS - $20 Million Dollar Transaction.

At the conclusion of the trial, a jury found that Mr. Battenberg,
former Delphi chief executive officer, and Mr. Free, former
Delphi chief accounting officer, were negligent in the reporting
of the GM Transaction, as well as negligent regarding maintenance
of internal controls, and negligent in statements made to the
accountants of Delphi relating to the transactions.  As to the
Bank One, BBK and EDS Transactions, the jury found Mr. Free not
only negligent, but responsible for making untrue statements of
material fact, making statements that were false and misleading,
and making statements with reckless disregard for their truth.
Notwithstanding those findings, the jury found Mr. Battenberg not
guilty of fraud.

Judge Cohn found that Mr. Free has not offered any compelling
reasons for the District Court to either set aside the jury's
finding him culpable on the misreporting of the four
transactions, or to give him a second opportunity to persuade a
new jury to find otherwise.  "The SEC's proofs at trial were such
that for the Court to set aside the verdict as to any of the
transactions would be substitution of its judgment for that of
the jury," the district judge opined.

A full-text copy of Judge Cohn's decision dated August 9, 2011,
is available for free at http://is.gd/2zycnGfrom Leagle.com

                        About Delphi Corp.

Based in Troy, Michigan, Delphi Corporation --
http://www.delphi.com/-- was a global supplier of electronics and
technologies for automotive, commercial vehicle and other market
segments.  Delphi operates major technical centers, manufacturing
sites and customer support facilities in 30 countries.

The Company filed for Chapter 11 protection (Bankr. S.D.N.Y. Lead
Case No. 05-44481) on Oct. 8, 2005.  John Wm. Butler Jr., Esq.,
John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden, Arps,
Slate, Meagher & Flom LLP, represented the Debtors in their
restructuring efforts.  Robert J. Rosenberg, Esq., Mitchell A.
Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins LLP,
represented the Official Committee of Unsecured Creditors.  As of
June 30, 2008, the Debtors' balance sheet showed US$9,162,000,000
in total assets and US$23,742,000,000 in total debts.

The Court confirmed Delphi's plan on Jan. 25, 2008.  The Plan
was not consummated after a group led by Appaloosa Management,
L.P., backed out from their proposal to provide US$2,550,000,000
in equity financing to Delphi.  At the end of July 2009, Delphi
obtained confirmation of a revised plan, build upon a sale of the
assets to a entity formed by some of the lenders who provided
$4 billion of debtor-in-possession financing, and General Motors
Company.

On Oct. 6, 2009, Delphi Corp.'s Chapter 11 plan of reorganization
became effective.  A Master Disposition Agreement executed among
Delphi Corporation, Motors Liquidation Company, General Motors
Company, GM Components Holdings LLC, and DIP Holdco 3, LLC,
divides Delphi's business among three separate parties -- DPH
Holdings LLC, GM Components, and DIP Holdco 3.

Delphi emerged from Chapter 11 as DPH Holdings.  DPH Holdings is
responsible for the post-Effective Date administration and
eventual closing of the Chapter 11 cases as well as the
disposition of certain retained assets and payment of certain
retained liabilities as provided under the Modified Plan.

Bankruptcy Creditors' Service, Inc., publishes Delphi Bankruptcy
News.  The newsletter tracks the Chapter 11 proceedings of Delphi
Corp. and its debtor-affiliates.  (http://bankrupt.com/newsstand/
or 215/945-7000


DELPHI CORP: Congressional Panel Examines Delphi Pension Matters
----------------------------------------------------------------
A Congressional panel heard testimonies on June 22, 2011, that
the Obama administration created winners and losers with respect
to Delphi Corp.'s pension benefits when it led the "bankruptcy
overhauls" of General Motors Corp. and Chrysler, LLC, in 2009,
Mary Williams Walsh of The New York Times reported.

"It is frightening to even think about allowing this precedent to
stand," Bruce Gump of the Delphi Salaried Retirees Association
told the Subcommittee of the House Committee on Oversight and
Government Reform, The New York Times relayed.

The New York Times noted that the retirees represented by the
United Auto Workers and two other unions got their full benefits
because of an "unusual side agreement" with GM, which was honored
even after GM filed for Chapter 11.  Retirees who were not
members of the union, or who are members of smaller unions did
not get that kind of treatment, the report said.

Messages revealed that shortly after GM entered Chapter 11, the
Auto Task Force asked GM how it intends to handle pension at
Delphi, the report disclosed.  Ten years ago, when GM was
spinning off Delphi, GM promised the UAW that if its pension fund
ever failed at Delphi, they could come back to GM to be made
whole through special payments called "top-ups," The New York
Times said.  There was no precedent for any company making those
payments, according to the report.

Matthew Feldman of the Auto Task Force warned GM that honoring
the 10-year-old promise "could get messy," and was uncertain
whether the Pension Benefit Guaranty Corporation would permit
that move, said The New York Times.  However, Walter Borst, GM's
treasurer at that time, said the pension agency could not throw a
wrench into GM's plans, the report stated.  "Our reading of the
benefit guarantee is clear, that it's for the benefit of
retirees, and not the PBGC," Mr. Borst wrote in a message, the
report added.

Some lawmakers commented that it seemed GM had been calling the
shots, even though it was bankrupt and dependent on federal life
support, The New York Times wrote.

The Auto Task Force's Senior Advisor Ron Bloom testified at the
hearing that GM complied with all relevant laws while in Chapter
11, stating that he too was troubled by the losses some parties
suffered as a result of GM's decision, according to The New York
Times.

In the wake of the hearing, members of the House of
Representatives urged that legislation be passed that would pay
all Delphi retirees their full pensions, Thomas Gnau of Dayton
Daily News reported in another article.  The subcommittee held
the hearing to examine the implications of the U.S. Government's
assistance to GM, according to Dayton Daily News.

Representative Mike Turner insisted that the Delphi retirees are
entitled to those benefits, adding that those benefits were
wrongly taken from them, Dayton Daily News said.  Two weeks after
the hearing, Mr. Turner wrote to Mr. Bloom asking him to respond
to his questions regarding how the Delphi pension decision was
reached.

At the hearing, U.S. Representative Dan Burton asked Mr. Bloom,
"I'd like to know why the salaried employees got chopped up so
badly," Dayton Daily News noted.  To which, Mr. Bloom replied
that a pending lawsuit filed by the DSRA prevented him from
commenting at length, but he acknowledged that some stakeholders
received "far, far less than they were promised," Dayton Daily
News stated.

Some lawmakers, however, defended the government's actions,
Dayton Daily News said.  "If the federal government had not come
to GM's aid, the firm would have been liquidated," U.S.
Representative Elijah Cummings was quoted by Dayton Daily News as
saying.

In connection with these events, the DSRA is suing the U.S.
Department of the Treasury, the Auto Task Force, the Treasury
Department Secretary Tim Geithner and former Auto Task Force
heads Steve Rattner and Ron Bloom, Mark Modica of NLPC.org
related.  The first hearing on the case is scheduled for Aug. 17,
2011, Mr. Modica said.  Chuck Cunningham of the DSRA disclosed
that the lawsuit is premised on the blatant favoritism and
discrimination with regards to pension benefits for groups that
should have had equal standing, NLPC.org added.

In response to a letter for clarification from U.S.
Representative Darrell Issa of the Committee on Oversight and
Government Reform, Mr. Bloom said he did not recall making a
comment at a dinner two years earlier in July 2009.  Mr. Bloom,
however, acknowledged that he cannot say with absolute certainty
that he did not make the alleged comment.

The comment being that Mr. Bloom had joked that he "did it all
for the unions" at a celebratory dinner for the Auto Task Force,
according to David Shepardson of The Detroit News.  The Detroit
News recalled reporting that Mr. Bloom made the comment in a
November 2009 article.  In his 2010 memoir "Overhaul," Mr.
Rattner also quoted Mr. Bloom as making the same comment at a
dinner at Rosa Mexicao on July 21, 2009, The Detroit News
reported.

"It appears that either a respected reporter and your former boss
in the Obama administration have both given inaccurate accounts
of your comments to the public or your testimony was not
completely truthful," Mr. Issa, together with U.S.
Representatives Dan Burton and Jim Jordan wrote to Mr. Bloom,
according to The Detroit News.

"I can assure you that the comment attributed to me is not
reflective of my view," Mr. Bloom concluded in his letter.

The joke drew the anger of the Delphi salaried retirees, who have
complained that they have lost up to 70% of their pensions while
their unionized counterparts did not lose any pension benefits
because GM agreed to top up the lost benefits, The Detroit News
stated.

                        About Delphi Corp.

Based in Troy, Michigan, Delphi Corporation --
http://www.delphi.com/-- was a global supplier of electronics and
technologies for automotive, commercial vehicle and other market
segments.  Delphi operates major technical centers, manufacturing
sites and customer support facilities in 30 countries.

The Company filed for Chapter 11 protection (Bankr. S.D.N.Y. Lead
Case No. 05-44481) on Oct. 8, 2005.  John Wm. Butler Jr., Esq.,
John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden, Arps,
Slate, Meagher & Flom LLP, represented the Debtors in their
restructuring efforts.  Robert J. Rosenberg, Esq., Mitchell A.
Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins LLP,
represented the Official Committee of Unsecured Creditors.  As of
June 30, 2008, the Debtors' balance sheet showed US$9,162,000,000
in total assets and US$23,742,000,000 in total debts.

The Court confirmed Delphi's plan on Jan. 25, 2008.  The Plan
was not consummated after a group led by Appaloosa Management,
L.P., backed out from their proposal to provide US$2,550,000,000
in equity financing to Delphi.  At the end of July 2009, Delphi
obtained confirmation of a revised plan, build upon a sale of the
assets to a entity formed by some of the lenders who provided
$4 billion of debtor-in-possession financing, and General Motors
Company.

On Oct. 6, 2009, Delphi Corp.'s Chapter 11 plan of reorganization
became effective.  A Master Disposition Agreement executed among
Delphi Corporation, Motors Liquidation Company, General Motors
Company, GM Components Holdings LLC, and DIP Holdco 3, LLC,
divides Delphi's business among three separate parties -- DPH
Holdings LLC, GM Components, and DIP Holdco 3.

Delphi emerged from Chapter 11 as DPH Holdings.  DPH Holdings is
responsible for the post-Effective Date administration and
eventual closing of the Chapter 11 cases as well as the
disposition of certain retained assets and payment of certain
retained liabilities as provided under the Modified Plan.

Bankruptcy Creditors' Service, Inc., publishes Delphi Bankruptcy
News.  The newsletter tracks the Chapter 11 proceedings of Delphi
Corp. and its debtor-affiliates.  (http://bankrupt.com/newsstand/
or 215/945-7000


DESERT OASIS: Taps Swecker & Company for Accounting, Tax Services
-----------------------------------------------------------------
Desert Oasis Apartments, LLC, asks the U.S. Bankruptcy Court for
the District of Nevada for permission to employ Swecker & Company,
Ltd., to provide general accounting and tax services.

In particular, Swecker anticipates the services will include, but
are not limited to, the following:

   a. bank reconciliations;

   b. adjusting journal entries; and

   c. preparation of general ledgers, financial statements, and
      annual partnership income tax returns.

Swecker's standard billing rates are:

         CPA review             $300
         Staff Accountant       $120
         Administrative Staff    $60

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

The Court will convene a hearing on Sept. 13, 2011, at 10:00 a.m.,
to consider the Debtor's request to employ Swecker.
   
                  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.

No trustee or creditors committee have been appointed in the case


DSI HOLDINGS: Can Hire DJM Realty as Real Estate Consultants
------------------------------------------------------------
The Honorable Kevin J. Carey has authorized DSI Holdings, Inc. and
its debtor affiliates to employ DJM Realty Services, LLC as their
real estate consultants, nunc pro tunc to the Petition Date.

The Debtors are authorized to compensate DJM Realty in accordance
with the terms and conditions in the Amended Real Estate
Consulting and Advisory Services Agreement, dated Aug. 9, 2011,
among the parties, pursuant to Section 328(a) of the Bankruptcy
Code.  Payment of DJM Realty's fees and reimbursements will not be
subject to the procedures set forth in the Order Establishing
Procedures for Interim Compensation and Reimbursement of Expenses
of Professionals.

                       About Deb Shops

Deb Shops Inc., is a closely held women's-clothing retailer based
in Philadelphia.  Deb Shops sells junior and large-size clothing
for girls and women ages 13 to 25 through more than 320 U.S.
stores and through debshops.com.  It was bought out by the New
York investment firm Lee Equity Partners in October 2007.

DSI Holdings Inc. and 54 affiliates, including Deb Shops, sought
bankruptcy protection (Bankr. D. Del. Lead Case No. 11-11941), on
June 26, 2011, to sell all assets under 11 U.S.C. Sec. 363.  As of
April 30, 2011, the Debtors' unaudited financial statements
reflected assets totaling $124.4 million and liabilities totaling
$270.1 million.

Lawyers at Weil Gotshal & Manges LLP and Richards, Layton & Finger
P.A. serve as bankruptcy counsel.  Rothschild Inc. serves as the
Debtors' investment banker and financial advisors.  Kurtzman
Carson Consultants, LLC, serves as claims agent.  Sitrick &
Company serves as public relations consultants.

Ableco, the DIP Agent is represented by Michael L. Tuchin, Esq.,
and David A. Fidler, Esq., at Klee Tuchin Bogdanoff & Stern LLP.
Conway Del Genio serves as financial advisors to the First Lien
Lenders.  Schulte Roth serves as corporate and tax advisors to the
First Lien Lenders.  Another lender, Lee DSI Holdings, is
represented by Jennifer Rodburg, Esq., at Fried Frank Harris
Shriver & Jacobson LLP.

Roberta A. Deangelis, U.S. Trustee for Region 3, appointed five
unsecured creditors to serve on the Official Committee of
Unsecured Creditors.  Otterbourg Steindler Houston & Rosen serves
as lead counsel to the Committee.


DSI HOLDINGS: Committee Can Retain Lead & Local Counsel, Advisor
----------------------------------------------------------------
The Honorable Kevin J. Carey approved the applications of the
Official Committee of Unsecured Creditors of DSI Holdings, Inc.,
et al. to retain (i) Mesirow Financial Consulting, LLC as its
financial advisors nunc pro tunc July 11, 2011; (ii) Pepper
Hamilton LLP as its Delaware counsel, nunc pro tunc to July 11,
2011; and (iii) Otterbourg, Steindler, Houston & Rosen, P.C. as
its lead counsel, effective as of July 11, 2011.

                       About Deb Shops

Deb Shops Inc., is a closely held women's-clothing retailer based
in Philadelphia.  Deb Shops sells junior and large-size clothing
for girls and women ages 13 to 25 through more than 320 U.S.
stores and through debshops.com.  It was bought out by the New
York investment firm Lee Equity Partners in October 2007.

DSI Holdings Inc. and 54 affiliates, including Deb Shops, sought
bankruptcy protection (Bankr. D. Del. Lead Case No. 11-11941), on
June 26, 2011, to sell all assets under 11 U.S.C. Sec. 363.  As of
April 30, 2011, the Debtors' unaudited financial statements
reflected assets totaling $124.4 million and liabilities totaling
$270.1 million.

Lawyers at Weil Gotshal & Manges LLP and Richards, Layton & Finger
P.A. serve as bankruptcy counsel.  Rothschild Inc. serves as the
Debtors' investment banker and financial advisors.  Kurtzman
Carson Consultants, LLC, serves as claims agent.  Sitrick &
Company serves as public relations consultants.

Ableco, the DIP Agent is represented by Michael L. Tuchin, Esq.,
and David A. Fidler, Esq., at Klee Tuchin Bogdanoff & Stern LLP.
Conway Del Genio serves as financial advisors to the First Lien
Lenders.  Schulte Roth serves as corporate and tax advisors to the
First Lien Lenders.  Another lender, Lee DSI Holdings, is
represented by Jennifer Rodburg, Esq., at Fried Frank Harris
Shriver & Jacobson LLP.

Roberta A. Deangelis, U.S. Trustee for Region 3, appointed five
unsecured creditors to serve on the Official Committee of
Unsecured Creditors.


EAGLE INDUSTRIES: To Seek Approval of Plan Disclosures Sept. 22
---------------------------------------------------------------
Eagle Industries LLC has filed a plan of reorganization and an
explanatory disclosure statement dated Aug. 22, 2011.  The plan
contemplates that cancelling of existing equity interests in the
Debtor while general unsecured claims will share in the
distribution of $100,000 approximately 60 days after the effective
date.

The Debtors will continue to operate their businesses and manage
their assets, which will generate income projected to be
sufficient for the Debtors to meet their ongoing operating
expenses and obligations contemplated under the Plan.

The plan of reorganization classifies claims into different
classes:

     A. Administrative Expenses - To be paid in full on the
        Effective Date of the Plan, or according to terms of
        obligation.

     B. Priority Tax Claims - Will receive the present value of
        the claim, in regular installments paid over a period not
        exceeding five years.

     C. Super-Priority Claims - The super-priority claims of
        Citizens    First Bank will be paid in full in accordance
        with the terms of the cash collateral order.

        The super-priority claim of subordinate DIP lenders will
        have his Super-Priority Claim satisfied in full on the
        Effective Date upon issuance and pro rata distribution of
        new membership interests in each of the Debtors.

     D. Secured Claims - Citizens First Bank will retain its liens
        and have its Secured Claim paid in full in accordance with
        the terms of the cash collateral order.

        PBI Bank will retain its liens and have its Secured Claim
        paid in full through regular monthly cash payments to
        cover principal and interest accruing under the terms of
        the pre-petition promissory note through the end of 2014.
        From 2015 to 2021, the regular monthly cash payments will
        increase to $65,940.85.  In 2022, the Debtors will make 12
        regular monthly payments of $70,940.85.  On Aug. 1, 2022,
        the Debtors will pay the remaining principal and all
        accrued but unpaid interest due.

        PNC Equipment Finance will retain its lien and have its
        Secured Claim paid in full according to the terms of
        the parties' Sale Agreement.

     E. General Unsecured Claims - Will receive cash payments
        representing its prorata share of $100,000 beginning 60
        days after effective date.

     F. Equity Interest Holders - Existing membership interests
        will be canceled.

The hearing on the disclosure statement is scheduled on
Sept. 22, 2011, at 10 a.m. (Central Time).

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

                     About Eagle Industries LLC

Bowling Green, Kentucky-based Eagle Industries LLC is engaged in
furniture manufacturing, sales and delivery.  Eagle Industries
filed for Chapter 11 bankruptcy protection  (Bankr. W.D. Ky. Case
No. 10-11636) on Oct. 27, 2010.  David M. Cantor, Esq., at Seiller
Waterman LLC, represents the Debtor.  The Debtor estimated assets
and debts at $10 million to $50 million.


EAGLE WINDOWS: Buyer Liable in Post-Sale Tort Action
----------------------------------------------------
The Supreme Court of South Carolina reversed a lower court ruling
that dismissed a contribution suit involving Eagle Windows &
Doors, Inc.  In May 2002, Eagle Windows & Doors' predecessor
purchased the assets of Eagle & Taylor Company, d/b/a Eagle
Windows & Doors, Inc. (Eagle I), from Eagle I's bankruptcy estate.
In 2000, homeowners constructed a residence using defective
windows manufactured by Eagle I.  In 2006, homeowners settled
their construction claims against contractor Gilliam Construction
Company, Inc.

Gilliam and its insurer, Nationwide Mutual Insurance Company,
Inc., filed the contribution suit against Eagle Windows & Doors as
successor to Eagle I.  The circuit court granted Eagle Windows &
Doors' motion to dismiss, holding (1) dismissal was required under
F.R.C.P. Rule 12(b)(6) because the bankruptcy order expressly
precluded any state law successor liability actions since the sale
was "free and clear" under 11 U.S.C. Sec. 363(f) of the Bankruptcy
Code; and (2) that dismissal was proper under Rule 12(b)(1),
SCRCP, because the bankruptcy court in Ohio which issued the Eagle
I order retained jurisdiction over any claims against respondent
for successor liability.

The South Carolina Supreme Court, in Opinion No. 27030, dated Aug.
22, 2011, available at http://is.gd/0DAN56from Leagle.com, held
that Paragraph I of the Eagle I bankruptcy order first discharged
respondent from all claims "arising before the sale of the Assets"
directing that any such claims "attach" to the sales proceeds.
This paragraph refers to an action in rem against the proceeds
paid to the debtor, while a post-sale tort action against the
successor entity is not an action against the sale proceeds
received by the debtor, but rather an in personam action against
the successor itself.  Nothing in Paragraph I bars the
contribution suit.

The appellate case is Nationwide Mutual Insurance Company, Inc.,
and Gilliam Construction Company, Inc., Appellants, v. Eagle
Windows & Doors, Inc., as Respondent, American Architectural
Products Corporation, Window and Door Concepts, Inc., Charles
Goad, Hobbit Plastering, Inc., Phillip L. Bender, Upstate
Waterproofing, Inc., Dale Coleman and Gary Churchill, Defendants
(S.C. Supt. Ct.).

Gilliam and Nationwide Mutual are represented by:

          Jason Michael Imhoff, Esq.
          THE WARD LAW FIRM
          P.O. Box 5663
          Spartanburg, SC 29304
          Tel: (864) 573-8500
          Fax: (864) 585-3090
          E-mail: sbyars@wardfirm.com

Eagle Windows & Doors is represented by:

          Ashley Dantzler Wright, Esq.
          WARREN & SINKLER
          171 Church Street, Suite 340
          Charleston, SC 29401
          Telephone: 843-577-0660
          Facsimile: 843-577-6843
          E-mail: law@warren-sinkler.com


ED HOLMES: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Ed Holmes and Associates Land Surveyors, PA
        P.O. Box 17335
        Asheville, NC 28816

Bankruptcy Case No.: 11-10807

Chapter 11 Petition Date: August 19, 2011

Court: United States Bankruptcy Court
       Western District of North Carolina (Asheville)

Judge: George R. Hodges

Debtor's Counsel: D. Rodney Kight, Jr., Esq.
                  KIGHT LAW OFFICE PC
                  7 Orchard Street, Suite 100
                  Asheville, NC 28801
                  Tel: (828) 255-9881
                  Fax: (828) 255-9886
                  E-mail: info@kightlaw.com

Scheduled Assets: $432,506

Scheduled Debts: $1,663,841

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ncwb11-10807.pdf

The petition was signed by W. Edwin Holmes, president.

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Craggy Land Co.                        11-10396   04/27/11
Shelby Development Partners            11-10484   05/16/11


EDIETS.COM INC: Files Form 10-Q, Incurs $851,000 Q2 Net Loss
------------------------------------------------------------
eDiets.com, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q reporting a net loss
of $851,000 on $5.95 million of total revenue for the three months
ended June 30, 2011, compared with a net loss of $34.60 million on
$5.43 million of total revenue for the same period during the
prior year.

The Company also reported a net loss of $1.23 million on $12.88
million of total revenue for the six months ended June 30, 2011,
compared with a net loss of $38.36 million on $10.45 million of
total revenue for the same period during the prior year.

eDiets.com reported a net loss of $43.3 million on $23.4 million
of revenues for 2010, compared with a net loss of $12.1 million on
$18.1 million of revenues for 2009.

The Company's balance sheet at June 30, 2011, showed $5.35 million
in total assets, $4.54 million in total liabilities and $812,000
in total stockholders' equity.

Ernst & Young LLP, in Boca Raton, Florida, expressed substantial
doubt about eDiets.com's ability to continue as a going concern.
The independent auditors noted that the Company has incurred
recurring operating losses and has a working capital deficiency.

The Company said that in light of the results of its operations,
management has and intends to continue to evaluate various
possibilities, including raising additional capital through the
issuance of common or preferred stock, securities convertible into
common stock, or secured or unsecured debt, selling one or more
lines of business, or all or a portion of the Company's assets,
entering into a business combination, reducing or eliminating
operations, liquidating assets, or seeking relief through a filing
under the U.S. Bankruptcy Code.

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

                       http://is.gd/weXDap

                          About eDiets

eDiets.com, Inc. is a leading provider of personalized nutrition,
fitness and weight-loss programs. eDiets currently features its
award-winning, fresh-prepared diet meal delivery service as one of
the more than 20 popular diet plans sold directly to members on
its flagship site, http://www.eDiets.com.


EINSTEIN MOOMJY: Owners Aims for Bankruptcy Sale to Keep Biz.
-------------------------------------------------------------
Hugh R. Morley at The Bergen Record reports that Einstein Moomjy,
the up-market rug store with its flagship showroom in Paramus, New
Jersey, has filed for bankruptcy.  The Company, started in 1948 by
Iranian and German immigrants, has slimmed its workforce from more
than three dozen to just a pair of unpaid employees and members of
the Moomjy family who run the company's three stores, in Paramus,
North Plainfield and Whippany, the Company's bankruptcy attorney
said.

According to the report, Daniel M. Stolz, Esq., said Einstein
Moomjy hopes that a bankruptcy sale, expected to take place in
late September or early October, at the three stores will enable
the Company to get back on its feet and continue to operate North
Plainfield and Whippany stores.  The lease on the Paramus store
expires in February, he said, and the Company does not expect the
landlord to extend it.

"There is hope that these sales would raise enough money to keep
the creditors happy and allow the Moomjys to continue in
business," Mr. Stolz said.

Einstein Moomjy, Inc., filed a Chapter 11 petition (Bankr. D. N.J.
Case No. 11-34723) on Aug. 19, 2011.  Daniel Stolz, Esq., at
Wasserman, Jurista & Stolz, in Millburn, New Jersey, serves as
counsel.  In its schedules, the Debtor disclosed $2.6 million in
assets and $4.5 million in liabilities as of the Chapter 11
filing.


EINSTEIN MOOMJY: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Einstein Moomjy, Inc.
        265 Route 10
        Whippany, NJ 07981

Bankruptcy Case No.: 11-34723

Chapter 11 Petition Date: August 19, 2011

Court: United States Bankruptcy Court
       District of New Jersey (Newark)

Judge: Novalyn L. Winfield

Debtor's Counsel: Daniel Stolz, Esq.
                  WASSERMAN, JURISTA & STOLZ
                  225 Millburn Ave., Suite 207
                  P.O. Box 1029
                  Millburn, NJ 07041-1712
                  Tel: (973) 467-2700
                  E-mail: dstolz@wjslaw.com

Scheduled Assets: $2,569,934

Scheduled Debts: $4,473,218

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/njb11-34723.pdf

The petition was signed by Walter Moomjy, president.


ELEPHANT & CASTLE: Motion for Extension of Response Deadlines OK'd
------------------------------------------------------------------
On Aug. 15, 2011, the U.S. Bankruptcy Court for the District of
Masachusetts, Eastern Division, approved the joint motion of
Elephant & Castle Group, Inc., et al., and the Official Committee
of Unsecured Creditors, extending to Aug. 19, 2011, the following
deadlines:

(i) the Debtors' response deadline to the application of the
     Creditors Committee to employ and retain FTI Consulting,
     Inc., as Financial Advisors to the Committee effective as of
     July 18, 2011 (Docket No. 81); and

(ii) the Creditors Committee's response deadline to the
     application of the Debtors for authorization to retain
     Bellmark Partners, LLC, as their Financial Advisors.

As reported in the TCR on Aug. 9, 2011, BellMark Partners will
perform consulting and financial advisory services that will be
necessary during the chapter 11 case.

BellMark Partners' compensation will consist of:

   a) a transaction fee of the greater of 2% of the Transaction
   Value up to and including $25 million; plus 3% of each
   incremental dollar between $25 million and $30 million; plus 4%
   of each incremental dollar in excess of $30 million, subject to
   an overall minimum Transaction Fee of $350,000;

   b) BellMark will only earn a Transaction Fee on whatever final
   sales price is obtained and thereafter approved by the Court
   after a stalking-horse bid is subject to a bidding and auction
   process where other competitive bids are made, provided,
   however, that if no other competitive bids are made, then the
   Transaction Fee shall be based on the stalking-horse bid after
   it has been approved by the Court as the final purchaser;

   c) any Transaction Fee earned by BellMark will be held from the
   proceeds of any Transaction for the benefit of BellMark until
   the Court rules on BellMark's fee application.  If such a
   withholding results in one or more secured creditors not being
   paid in full from the sale proceeds, such withholding will be
   deemed a carve out from the collateral of such secured
   creditor.

In addition, the Debtors agreed to pay to BellMark a monthly set
fee amount of $5,000, except that the Monthly Fee will be
$10,000 for the first month starting from the commencement of
these bankruptcy cases.

As reported in the TCR on Aug. 10, 2011, FTI Consulting will,
among other things:

   -- assist the Committee with the assessment and monitoring of
   the Debtors' short term cash flow, liquidity, prepetition claim
   payments and operating results;

   -- assist the Committee in the review of any proposed plan(s)
   of reorganization and the related disclosure statement; and

   -- assist the Committee in the review and assessment of
   potential bids from investors in connection with any sale
   process.

Subject to Court approval, FTI will seek payment for compensation
on a fixed monthly basis of $45,000 per month, plus reimburesment
of actual and necessary expenses incurred by FTI.

            About Massachusetts Elephant & Castle Group

Boston-based Massachusetts Elephant & Castle Group, Inc., and its
affiliates operates 21 British-style restaurant pubs in the U.S.
and Canada.  The chain, with 10 locations in the U.S., generated
revenue of $47.5 million in 2010, throwing off $3.9 million of
earnings before interest, taxes, depreciation, amortization, and
foreign exchange gains or losses.

Elephant & Castle filed for Chapter 11 protection (Bankr. D. Mass.
Lead Case No. 11-16155) on June 28, 2011.  Bankruptcy Judge Henry
J. Boroff presides over the case.  John G. Loughnane, Esq. at
Eckert Seamans Chein& Mellott, LLC represents the Debtor in its
restructuring effort.  Repechage Investments' estimated assets and
debts at $10 million to $50 million.  Other Debtors' estimated
assets and debts at $0 to $10 million.

On July 12, 2011, the U.S. Trustee's office appointed the Official
Committee of Unsecured Creditors.


ELEPHANT & CASTLE: Panel Can Retain Goulston & Storss as Counsel
----------------------------------------------------------------
On Aug. 15, 2011, the U.S. Bankruptcy Court for the District of
Massachusetts authorized the Official Committee of Unsecured
Creditors of Massachusetts Elephant & Castle Group, Inc., et al.,
to retain the firm of Goulston & Storrs, P.C., as counsel to the
Committee effective as of July 13, 2011.

The Court is satisfied that Goulston & Storrs, while employed by
the Committee, does not represent any other entity having an
adverse interest in connection with the Debtors' cases.

As reported in the TCR on Aug. 10, 2011, Goulston & Storrs'
standard hourly rates for attorneys range from $295 - $855 per
hour and that its rates for paralegal range from $205 - $375 per
hour.  The professionals who will have primary responsibility for
handling matters on behalf of the Committee in these cases and
their respective hourly rates are:

         Christine D. Lynch             $565
         Peter Bilowz                   $500
         Timothy J. Carter              $305
         Stacey A. Mordas, paralegal    $250

Goulston & Storrs has agreed to discount its standard hourly
rates by 10%, which will be reflected in each of the applications
for compensation filed with the Court.

            About Massachusetts Elephant & Castle Group

Boston-based Massachusetts Elephant & Castle Group, Inc., and its
affiliates operates 21 British-style restaurant pubs in the U.S.
and Canada.  The chain, with 10 locations in the U.S., generated
revenue of $47.5 million in 2010, throwing off $3.9 million of
earnings before interest, taxes, depreciation, amortization, and
foreign exchange gains or losses.

Elephant & Castle filed for Chapter 11 protection (Bankr. D. Mass.
Lead Case No. 11-16155) on June 28, 2011.  Bankruptcy Judge Henry
J. Boroff presides over the case.  John G. Loughnane, Esq. at
Eckert Seamans Chein& Mellott, LLC represents the Debtor in its
restructuring effort.  Repechage Investments' estimated assets and
debts at $10 million to $50 million.  Other Debtors' estimated
assets and debts at $0 to $10 million.

On July 12, 2011, the U.S. Trustee's office appointed the Official
Committee of Unsecured Creditors.


EUROWALK RSW: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Eurowalk RSW Shoe Group Inc.
        dba Shuz of Davis
        dba Shuz of Danville
        dba Shuz of Los Gatos
        dba Shuz of Rockridge
        11486 Marwick Drive
        Dublin, CA 94568

Bankruptcy Case No.: 11-48861

Chapter 11 Petition Date: August 18, 2011

Court: United States Bankruptcy Court
       Northern District of California (Oakland)

Judge: Roger L. Efremsky

Debtor's Counsel: Darya Sara Druch, Esq.
                  LAW OFFICES OF DARYA SARA DRUCH
                  1 Kaiser Plaza #480
                  Oakland, CA 94612
                  Tel: (510) 465-1788
                  E-mail: ecf@daryalaw.com

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

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/canb11-48861.pdf

The petition was signed by Johnny K. Riker Sr., president.


EMPRESAS MARTINEZ: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Empresas Martinez Valentin, Corp.
        aka Bronze & Metal Works
        aka Supermercado El Tabonuco
        5 De Diciembre Avenue, No. 108
        Sabana Grande, PR 00637

Bankruptcy Case No.: 11-07018

Chapter 11 Petition Date: August 19, 2011

Court: United States Bankruptcy Court
       District of Puerto Rico (Ponce)

Debtor's Counsel: Carmen D. Conde Torres, Esq.
                  C. CONDE & ASSOCIATES
                  254 San Jose Street, 5th Floor
                  San Juan, PR 00901-1523
                  Tel: (787) 729-2900
                  Fax: (787) 729-2203
                  E-mail: notices@condelaw.com

Scheduled Assets: $4,256,600

Scheduled Debts: $2,442,518

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/prb11-07018.pdf

The petition was signed by Angel Javier Martinez Valentin,
president.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Angel Javier Martinez-Valentin         11-06321   07/28/11


EXTENDED STAY: Trustee Fights $8BB Blackstone Suits Consolidation
-----------------------------------------------------------------
Hobart Truesdell asked Judge James Peck of the U.S. Bankruptcy
Court for the Southern District of New York to deny approval of
the motion to consolidate the lawsuits it filed against
Blackstone Group LP and other co-defendants.

Mr. Truesdell, who administers the litigation trust created for
Extended Stay's creditors pursuant to the hotel chain's Chapter
11 plan of reorganization, filed two lawsuits in on June 14,
2011, against the Blackstone group in the Bankruptcy Court and
another lawsuit in the Supreme Court of New York in connection
with the 2007 sale of the hotel chain.

One of the two cases filed in the Bankruptcy Court under Case No.
11-02255 seeks to recover from the Blackstone plaintiffs about
$2.1 billion in alleged fraudulent transfers made at the closing
of the leveraged buy-out.  The second lawsuit filed under Case
No. 11-02254 seeks relief similar with relief sought in a third
similar case against the same Blackstone plaintiffs filed in a
New York Supreme Court.  The state court action has recently been
transferred recently to the Bankruptcy Court under Case No.
11-02398 upon request from the Blackstone group.

Lawyer for the Litigation Trustee, Marc Powers, Esq., at Baker &
Hostetler LLP, in New York, said in court papers dated August 18,
2011, that the proposed consolidation is premature given the
trustee's motions to remand the state court action back to the
Supreme Court and motions to withdraw the reference of the
lawsuits.

In court papers dated July 29, 2011, the Litigation Trustee
proposed for the transfer of the state court action last month as
it reportedly concerns the administration of Extended Stay's
bankruptcy estate.  Meanwhile, the Trustee's motions to withdraw
the reference, which were filed in late July and early August,
are based largely on the Supreme Court's June 2011 decision in
Stern v. Marshall, the controversial case involving the estates
of Anna Nicole Smith.  The Stern v. Marshall case is said to have
limited bankruptcy courts' constitutional authority to enter
final judgment against third-parties on pre-bankruptcy state law
claims under certain circumstances.

"Once the motion for remand is decided, the state court action
may be back in the Supreme Court of New York and thus could not
be consolidated with any of the federal actions," Mr. Powers said
in court papers.

Moreover, Mr. Powers stated, the lawsuits cannot be consolidated
since they are "significantly different" from each other.

"The separate causes of action involve widely divergent issues of
law and proof," he pointed out.  "Consolidation would result in
unwarranted delay, increased complication and a likelihood of
confusion of issues."

Mr. Powers further said that consolidation would lead to
"fundamental unfairness and prejudice to the trust in the form of
delay, increased litigation costs and juror confusion."

The Litigation Trustee also criticized Lightstone Group LLC and
14 other defendants that were named in another lawsuit he filed,
also on June 14, in the Bankruptcy Court under Case No. 11-2256.

In court filings dated August 8, 2011, Lightstone Group and its
co-defendants filed a motion to consolidate Case No. 11-2256 with
the three lawsuits against the Blackstone group.  Lightstone also
filed a statement supporting the approval of Blackstone group's
motion to consolidate.  The Lightstone plaintiffs argued that
consolidation is appropriate because the cases are "closely
related, if not substantially identical" to one another and that
they arose from the same allegation that those involved in
facilitating the 2007 sale of the hotel chain acted out of self-
interest that pushed Extended Stay to bankruptcy.

The other Lightstone defendants are David Lichtenstein, DL-DW
Holdings LLC, Lightstone Holdings LLC, Lightstone Commercial
Management, BHAC Capital IV LLC, Park Avenue Funding LLC, Bruno
de Vinck, Peyton Owen, Joseph Teichman, Arbor Commercial Mortgage
LLC, ABT-ESI LLC, Arbor ESH II LLC, Guy Milone and Joseph
Martello.

Mr. Lichtenstein, chairman of Lightstone Group, led the
investment consortium that purchased the hotel chain from
Blackstone Group LP through a $7.4 billion loan from Bear Stearns
Commercial Mortgage Inc. and two U.S. banks.

According to the counsel to the Litigation Trustee, the facts
necessary to resolve the case against the Lightstone defendants
are distinct.  He pointed out that the Lightstone case involves
no less than $300 million of specific transfers not at issue in
any of the other lawsuits, which dispels any notion that all the
four cases share common facts.

On August 12, 2011, the Litigation Trustee served an amended
complaint in the Lightstone case adding four more defendants,
namely Gramercy Warehouse Funding IV LLC, J.P. Morgan Clearing
Corp., Merrill Lynch & Co. Inc., and SL Green Funding LLC.

In a related development, Wachovia Bank N.A. entered into an
agreement with the Litigation Trustee, which gives the bank time
to respond to a lawsuit filed against it until September 13,
2011.  The lawsuit, under Case No. 11-02259, is also handled by
the Bankruptcy Court.

                  Blackstone, et al., Oppose
                  Proposed Transfer of Suit

The Blackstone group, in court papers dated August 22, 2011,
criticized the proposed transfer of the state court action
against them back to the Supreme Court.

The group's lawyer, Jeffrey Powell, Esq., at Kirkland & Ellis
LLP, in Washington, D.C., asserted that the Bankruptcy Court has
jurisdiction over the state court action because it stemmed from
Extended Stay's bankruptcy.

Mr. Powell pointed out that the state court action has "a close
nexus" to Extended Stay's bankruptcy case or restructuring plan
as the plan created the litigation trust to bring claims on
behalf of the hotel chain's estate.  He added that the
restructuring plan retains exclusive jurisdiction over any claims
the trustee brings to recover assets for Extended Stay's estates.

Mr. Powell further said that the state court action should not be
transferred back to Supreme Court given the "judicial economy and
efficiency" of the Bankruptcy Court in handling all the lawsuits
filed by the trustee based on the same factual allegations.

The Blackstone group drew support from other defendants including
the Lightstone group, Thomas Burdi, Gary DeLapp, Dae Hum Kim, F.
Joseph Rogers, Arbor ESH II LLC, Arbor Commercial Mortgage LLC,
ABT-ESI LLC, Guy Milone Jr., Joseph Martello, Citigroup Global
Markets Inc., and PGRT ESH Inc.

Banc of America Securities LLC, Bank of America N.A., and Ebury
Finance Limited also criticized the proposed transfer, saying it
would require them "to litigate duplicative claims in multiple
actions" in separate courts.

                       About Extended Stay

Extended Stay is the largest owner and operator of mid-price
extended stay hotels in the United States, holding one of the most
geographically diverse portfolios in the lodging sector with
properties located across 44 states (including 11 hotels located
in New York) and two provinces in Canada.  As a result of
acquisitions and mergers, Extended Stay's portfolio has expanded
to encompass over 680 properties, consisting of hotels directly
owned or leased by Extended Stay or one of its affiliates.
Extended Stay currently operates five hotel brands: (i) Crossland
Economy Studios, (ii) Extended Stay America, (iii) Extended Stay
Deluxe, (iv) Homestead Studio Suites, and (v) StudioPLUS Deluxe
Studios.

Extended Stay Inc. and its affiliates filed for Chapter 11 on
June 15, 2009 (Bankr. S.D.N.Y. Case No. 09-13764).  Judge James M.
Peck handles the case.  Marcia L. Goldstein, Esq., at Weil Gotshal
& Manges LLP, in New York, represents the Debtors.  Lazard Freres
& Co. LLC is the Debtors' financial advisors.  Kurtzman Carson
Consultants LLC is the claims agent.  The Official Committee of
Unsecured Creditors tapped Gilbert Backenroth, Esq., Mark T.
Power, Esq., and Mark S. Indelicato, Esq., at Hahn & Hessen LLP,
in New York, as counsel.  Extended Stay had assets of
$7.1 billion and debts of $7.6 billion as of the end of 2008.

Extended Stay Inc. in October successfully emerged from Chapter 11
protection.  An investment group including Centerbridge Partners,
L.P., Paulson & Co. Inc. and Blackstone Real Estate Partners VI,
L.P.  has purchased 100 percent of the Company for $3.925 billion
in connection with the Plan of Reorganization confirmed by the
Bankruptcy Court in July 2010.

Bankruptcy Creditors' Service, Inc., publishes Extended Stay
Bankruptcy News.  The newsletter provides gavel-to-gavel coverage
of the Chapter 11 proceedings undertaken by Extended Stay Inc. and
its various affiliates. (http://bankrupt.com/newsstand/or
215/945-7000).


FIRST NAT'L BANK: FDIC Sues Former Executives Over Losses
---------------------------------------------------------
Former First National Bank of Arizona Chief Executive Officer Gary
A. Dorris and former director Philip A. Lamb "sacrificed safety"
and promoted risky non-traditional mortgage loans that ultimately
caused the bank's failure, the Federal Deposit Insurance Corp.
said in a lawsuit, FDIC v. Dorris, (D. Ariz. Case No. 2:11-cv-
01652), according to reporting by Sophia Pearson at Bloomberg
News.

Messrs. Dorris and Lamb were negligent in exercising their duties,
given the obvious risks of the bank's business model, the agency
said Aug. 23 in a complaint in federal court in Phoenix.

FNB Arizona closed its wholesale mortgage business in 2007,
terminating more than 500 people.  It was acquired by First
National Bank of Nevada in June 2008, less than a month before
that bank was shuttered on July 25, the FDIC said in the
complaint.


FIVE RIVERS: Case Summary & 19 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Five Rivers Petroleum LLC
        dba Petro 2
        24 Donegal Avenue
        Claysville, PA 15323

Bankruptcy Case No.: 11-25202

Chapter 11 Petition Date: August 18, 2011

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

Judge: Jeffery A. Deller

Debtor's Counsel: Michael J. Henny, Esq.
                  LAW OFFICES OF MICHAEL J. HENNY
                  Suite 2828 Gulf Tower
                  707 Grant Street
                  Pittsburgh, PA 15219
                  Tel: (412) 261-2640
                  Fax: (412) 391-0221
                  E-mail: m.henny@hennylaw.com

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

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

A list of the Company's 19 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/pawb11-25202.pdf

The petition was signed by Rajeet Sanahu, managing member.


GATEWAY HOTEL: Can Continue Using Cash Collateral Until Oct. 31
---------------------------------------------------------------
On Aug. 3, 2011, the U.S. Bankruptcy Court for the District of
Arizona approved the stipulation between debtor Gateway Hotel,
LLC, and lender 2010-1 SFG Venture LLC, as successor in interest
to Specialty Finance Group LLC, extending the Debtor's use of cash
collateral until Oct. 31, 2011.

As reported in the TCR on May 16, 2011, the Bankruptcy Court
entered a final order authoring the Debtor's use of cash
collateral until the earliest to occur of: (i) the effective date
of any confirmed plan of reorganization; (ii) appointment of
Chapter 11 Trustee or examiner; (iii) conversion of this case to a
case under Chapter 7 of the Bankruptcy Code; (iv) dismissal of
this case; (v) July 30, 2011, and (vi) the Debtor's breach of any
of the provisions of the order.

The final order further provides that prior to July 30, 2011, and
to the extent the Debtor has not otherwise breached any of the
provisions of the final order, the Debtor may seek approval from
the Bankruptcy Court for the continued use of Cash Collateral

                        About Gateway Hotel

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

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


GENERAL MOTORS: Ch. 11 Judge Backs Away from $450MM Union Feud
--------------------------------------------------------------
Samuel Howard at Bankruptcy Law360 reports that a New York
bankruptcy judge overseeing the liquidation of General Motors
Corp.'s remnants declined Tuesday to step in and adjudicate a
dispute between the carmaker and a workers union over $450 million
in retiree medical benefits.

In a bench decision, U.S. Bankruptcy Judge Robert Gerber abstained
from hearing the United Auto Workers' lawsuit pending in Michigan,
even though it involved the 363 sale order of so-called Old GM's
assets to the reorganized entity, according to Law360.

                       About General Motors

With its global headquarters in Detroit, Michigan, General Motors
Company (NYSE:GM, TSX: GMM) -- http://www.gm.com/-- is one of the
world's largest automakers, traces its roots back to 1908.  GM
employs 208,000 people in every major region of the world and does
business in more than 120 countries.  GM and its strategic
partners produce cars and trucks in 30 countries, and sell and
service these vehicles through the following brands: Baojun,
Buick, Cadillac, Chevrolet, GMC, Daewoo, Holden, Isuzu, Jiefang,
Opel, Vauxhall, and Wuling.  GM's largest national market is
China, followed by the United States, Brazil, the United Kingdom,
Germany, Canada, and Italy.  GM's OnStar subsidiary is the
industry leader in vehicle safety, security and information
services.

General Motors Co. was formed to acquire the operations of General
Motors Corp. through a sale under 11 U.S.C. Sec. 363 following Old
GM's bankruptcy filing.  The U.S. government once owned as much as
60.8% stake in New GM on account of the financing it provided to
the bankrupt entity.  The deal was closed July 10, 2009, and Old
GM changed its name to Motors Liquidation Co.  New GM has a 'BB-'
corporate credit rating from Standard & Poor's and a 'BB-' issuer
default rating from Fitch.

                     About Motors Liquidation

General Motors Corporation and three of its affiliates filed for
Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 09-50026) on
June 1, 2009.  The Honorable Robert E. Gerber presides over the
Chapter 11 cases.  Harvey R. Miller, Esq., Stephen Karotkin, Esq.,
and Joseph H. Smolinsky, Esq., at Weil, Gotshal & Manges LLP,
assist the Debtors in their restructuring efforts.  Al Koch at AP
Services, LLC, an affiliate of AlixPartners, LLP, serves as the
Chief Executive Officer for Motors Liquidation Company.  GM is
also represented by Jenner & Block LLP and Honigman Miller
Schwartz and Cohn LLP as counsel.  Cravath, Swaine, & Moore LLP is
providing legal advice to the GM Board of Directors.  GM's
financial advisors are Morgan Stanley, Evercore Partners and the
Blackstone Group LLP.  Garden City Group is the claims and notice
agent of the Debtors.

The U.S. Trustee has appointed an Official Committee of Unsecured
Creditors and a separate Official Committee of Unsecured Creditors
Holding Asbestos-Related Claims.  Lawyers at Kramer Levin Naftalis
& Frankel LLP serve as bankruptcy counsel to the Creditors
Committee.  Attorneys at Butzel Long serve as counsel regarding
supplier contract matters.  FTI Consulting, Inc., serves as
financial advisors to the Creditors Committee.  Elihu Inselbuch,
Esq., at Caplin & Drysdale, Chartered, represents the Asbestos
Committee.  Legal Analysis Systems, Inc., serves as asbestos
valuation analyst.

The Bankruptcy Court entered an order confirming the Debtors'
Second Amended Joint Chapter 11 Plan on March 29, 2011.  The Plan
was declared effect on March 31.


HARVEST OAKS: Motion for Relief of Stay on Shopping Center Denied
-----------------------------------------------------------------
The Hon. Stephani W. Humrickhouse of the U.S. Bankruptcy Court for
the Eastern District of North Carolina denied CSMC 2006-C5
Strickland Road, LLC, through its special servicer, LNR Partners,
LLC's motion for relief from the automatic stay in Harvest Oaks
Drive Associates, LLC's property.

CSMC sought relief from the automatic stay pursuant to section
362(d)(2) of the Bankruptcy Code to resume foreclosure on the
Debtor's shopping center in Raleigh, North Carolina.  CSMC holds a
security interest in the shopping center, well as in the Debtor's
leases and rent proceeds.   CSMC contended that the stay must be
lifted because the Debtor does not have equity in the property,
and the property is not necessary to an effective reorganization.

The Court said that based on the Debtor's stipulation that it
lacks equity at present, CSMC's burden is satisfied, and the first
requirement is resolved in CSMC's favor.  As to the second
requirement, whether the property is necessary for an effective
reorganization, the Court finds that the Debtor has demonstrated
that it can accomplish an effective reorganization within a
reasonable time.  First, the Debtor has improved its occupancy
rate from approximately 50-58% in April 2010, to approximately 85-
87% as of the June 9, 2011.  Given this upward trend, it appears
possible that the occupancy rate may continue to increase between
now and the confirmation hearing as expected by the Debtor.

In addition, the Debtor has decreased its labor expenses by
eliminating an employee making a salary of $5,000 per month, and
the principal has elected to forego his monthly draw of $5,000, at
least in the first several months, if not for a longer period of
time. The Debtor's principal, Max Barbour testified that expenses
will be reduced further by conserving energy and operating the
shopping center efficiently as possible.

Further, the confirmation hearing date in the case is approaching,
and will provide a more suitable platform for addressing many of
CSMC's concerns if they remain at that time.  Although CSMC
asserts that the Court must consider the plan as filed in
determining whether the likelihood of an effective reorganization,
the Code permits the Debtor to amend its proposed plan at any time
before confirmation, long as it meets the requirements of
sections 1122 and 1123 of the Bankruptcy Code.

As reported in the Troubled Company Reporter on Aug. 19, 2011, the
Debtor filed on Aug. 12, a Second Amended Disclosure Statement and
Second Amended Plan of Reorganization.  The Plan contemplates a
reorganization and continuation of the Debtor's business.  Certain
creditor claims will be satisfied from income earned through the
continued operations of the Debtor's business.

                        About Harvest Oaks

Harvest Oaks Drive Associates, LLC, owns a shopping center in
North Raleigh located at 9650 Strickland Road and 8801 Lead Mine
Road, in Raleigh, North Carolina.  The Shopping Center has
numerous tenants that include chain stores such as the Kerr Drug
and the UPS store, and local businesses such as restaurants,
shops, and other retail businesses.

The Company filed for Chapter 11 bankruptcy protection (Bankr.
E.D.N.C. Case No. 10-03145) on April 21, 2010.  Trawick H
Stubbs, Jr., Esq., at Stubbs & Perdue, P.A., assists the Company
in its restructuring effort.  In its schedules, the Company
disclosed $15,832,000 in assets and $14,634,161 in debts


HASSEN IMPORTS: City of West Covina Wants Asset Recovered
---------------------------------------------------------
The city of West Covina, California, asks the U.S. Bankruptcy
Court for the Central District of California to initiate and
prosecute to judgment the avoidance action on behalf of Hassen
Imports Partnership's estate's behalf and benefit.

The Debtor owns a parcel of commercial real estate fronting the
I-10 Freeway in West Covina (Garvey Ave. North Property).  The
Clippinger Mazda autodealership occupies the site.  The property
is not included in the materials submitted with the Chapter 11
petition.

The motion is intended to recover, and preserve for the Debtor's
bankruptcy estate an $8,000,000 real estate asset that the Debtor
is attempting to conceal from its creditors and from the Court.

According to the City, as the trial date approached in a Superior
Court lawsuit brought against HIP by the City of West Covina, the
president of HIP's general partner Ziad Alhassen, created a shell
entity called 2939 E. Garvey Road, LLC and then quickly
transferred legal title to the property from HIP to that new
entity, which is also controlled by Mr. Alhassen.  This was a
fraudulent conveyance.

Following HIP's fraudulent conveyance of the Garvey Ave. North
Property, the City's state court lawsuit proceeded to trial,
resulting in a judgment that HIP is liable to the City in the
amount of $7,586,603, and granting the City the right to
judicially foreclose on the real estate owned by HIP and
encumbered by trust deeds in favor of the City.  The City is a
subordinated junior lien holder on its real estate security.  Due
to an increase in the total amount of the senior secured debt with
priority over the City's liens and due to a decline in the value
of the security property, the City is most probably undersecured
at this time

The City Notes that avoidance of the fraudulent conveyance of the
Garvey Ave. North Property and recovery of the unencumbered real
property by the Debtor's estate will have an enormous impact on
the entire proceeding, as it would provide assets of sufficient
value to repay all of HIP's creditors in full.

The City reserves the right to seek reimbursement of expenses
associated with the avoidance action under section 503(b)(3)(B) of
the Bankruptcy Code.

The City of West Covina and City of West Covina Community
Development Commission are represented by:

         Arnold Alvarez-Glasman, Esq.
         City Attorney of the City of West Covina
         ALVAREZ-GLASMAN & COLVIN
         13181 Crossroads Parkway North, Suite 400 - West Tower
         City of Industry, CA 91746
         Tel: (562) 699-5500
         E-mail: aglasman@agclawfirm.com

         Stephen T. Owens, Esq.
         James H. Broderick, Jr., Esq.
         SQUIRE, SANDERS & DEMPSEY (US) LLP
         555 South Flower Street, 31st Floor
         Los Angeles, CA 90071
         Tel: (213) 624-2500
         Fax: (213) 623-4581
         E-mail: stephen.owens@ssd.com
                 james.broderick@ssd.com

         Jordan A. Kroop, Esq.
         SQUIRE, SANDERS & DEMPSEY (US) LLP
         One East Washington St., Suite 2700
         Phoenix, AZ 85004
         Tel: (602) 528-4000
         E-mail: jordan.kroop@ssd.com

                  About Hassen Imports Partnership

Hassen Imports Partnership filed a Chapter 11 petition (Bankr.
C.D. Calif. Case No. 11-42068) in Los Angeles, California, on
July 27, 2011.  Marina Fineman, Esq., at Stutman Treister & Glatt,
serves as counsel to the Debtor.  The Debtor disclosed $9,238,486
in assets and $37,555,776 in liabilities as of the Chapter 11
filing.


HUDSON HEALTHCARE: Committee Wants Sills Cummis as Counsel
----------------------------------------------------------
The Official Committee of Unsecured Creditors of Hudson
Healthcare, Inc., seeks to retain Sills Cummis & Gross P.C. as its
counsel, nunc pro tunc to Aug. 12, 2011.

Sills Cummis & Gross will render services, including:

     * Provide legal advice with respect to the Creditors'
       Committee's rights, powers, and duties in this case;

     * Prepare all necessary applications, answers, responses,
       objections, orders, reports, and other legal papers;

     * Represent the Creditors' Committee in any and all matters
       arising in this case;

     * Assist the Creditors' Committee in its investigation and
       analysis of the Debtor;

     * Represent the Creditors' Committee in all aspects of any
       confirmation proceedings; and

     * Perform all other legal services for the Creditors'
       Committee that may be necessary or desirable in this case.

The firm will be paid on an hourly basis and reimbursed of actual,
necessary expenses.  The firm's current hourly rates are:

               Member                $395 - $775
               Of Counsel            $315 - $675
               Associate             $265 - $475
               Paralegal             $125 - $295

Based on the affidavit of Andrew H. Sherman, the Creditors
Committee believes that the firm does not hold or represent any
interest adverse to the Debtor or its estate, its creditors, or
any other party-in-interest and that the Firm is a disinterested
person as the term is defined in Section 101(14) of the Bankruptcy
Code.

                      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.


IMUA BLUEHENS: Can Hire O'Connor Playdon as General Counsel
-----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Hawaii has
authorized Imua Bluehens, LLC to employ O'Connor Playdon & Guben
LLP as its general counsel, effective as of June 17, 2011.

Compensation and reimbursement of expenses are subject to further
Court approval under Section 330 of the Bankruptcy Code and
applicable local rules and guidelines.

The firm can be contacted at:

          Jerrold K. Guben, Esq.
          Jeffery S. Flores, Esq.
          O'CONNOR PLAYDON & GUBEN LLP
          733 Bishop Street, 24th Floor
          Honolulu, Hawaii 96813
          Tel: (808) 524-8350
          Fax: (808) 531-8628
          E-mail: jkg@opglaw.com
                  jsf@opglaw.com

Honolulu, Hawaii-based Imua Bluehen, LLC, owns the Laniakea Plaza,
a commercial retail operation.  Imua Bluehens filed for Chapter 11
bankruptcy (Bankr. D. Hawaii Case No. 11-01721) on June 17, 2011.
Judge Robert J. Faris presides over the case.  In its petition,
the Debtor estimated assets and debts of $10 million to $50
million.  The petition was signed by James K. Kai, manager.


INNKEEPERS USA: Objects to Cerberus' $20-Mil. Refund Request
------------------------------------------------------------
Michael Bathon at Bloomberg News reports that Innkeepers USA Trust
objected to a demand from Cerberus Capital Management LP and
Chatham Lodging Trust to recover a $20 million deposit for their
now disputed plan to acquire 64 of the bankrupt company's hotels
for $1.12 billion.

Cerberus and Chatham have demanded their $20 million deposit back.
In an Aug. 19 letter to Wells Fargo, they demanded that 90% be
returned to Cerberus and 10% be returned to Chatham.

According to the Bloomberg report, Innkeepers objected, saying in
a separate letter to Wells Fargo "there has not been an occurrence
of any condition, change, or development that could reasonably be
expected to have a material adverse effect" on its business since
the deal was agreed to in May.

As a result, Wells Fargo must keep the money until a court rules
on the dispute, Innkeepers said.

The Wall Street Journal's Mike Spector and Dow Jones Newswires'
Eric Morath report that a person familiar with the matter said
Cerberus Capital Management LP remains interested in buying 64
Innkeepers USA Trust hotels for a lower price than the private-
equity firm had agreed to in a previous deal.

A source said Innkeepers' board hasn't yet decided on what actions
to take. Innkeepers expects to keep the $20 million deposit
Cerberus and Chatham made "at the very minimum," this person said.
Innkeepers also plans to hold discussions with other possible
buyers for the hotels, which operate under brands such as Marriott
and Hyatt, the person said.

               Botched Sale Could Cut Legal Fees

Bloomberg News also reports that Innkeepers creditor Midland Loan
Services questioned a request for fees from Innkeepers bankruptcy
counsel Kirkland & Ellis LLP, saying Innkeepers' exit from
bankruptcy was now uncertain.  Midland, servicer of an
$825 million mortgage loan, said Kirkland & Ellis's request for
$1.6 million should be partially held back given uncertainties for
all of Innkeepers' interrelated reorganization plans.

Cerberus and Chatham's announcement that they'll terminate the
purchase agreement raises "the question of whether such plans will
become effective," lawyers for Midland wrote.

                  Cerberus-Backed Plan Collapses

In June 2011, the Bankruptcy Court confirmed Innkeepers' chapter
11 plan of reorganization.  The Plan is premised on the sale of
the Company's hotel portfolio.

A joint venture between the private-equity firm Cerberus Capital
Management, L.P. and the real estate investment trust Chatham
Lodging agreed to purchase for roughly $1.12 billion the equity in
entities that own and operate 65 of the Company's hotels.
Cerberus and Chatham agreed to pay $400.5 million cash and assume
about $723.8 million mortgage debt for the hotels.  Chatham
Lodging also agreed to purchase for $195 million, five of the
Company's hotels that serve as collateral for loan trusts serviced
by LNR Partners LLC.  The deal for the five hotels closed in July
2011.

Cerberus and Chatham on Aug. 19 terminated a deal to acquire a
portfolio of Innkeepers USA Trust's hotels.  In a statement,
Cerberus and Chatham said they had abandoned the deal "as a result
of the occurrence of a condition, change or development that could
reasonably be expected to have a material adverse effect" on
Innkeepers' business, operations or financial condition, among
other things.

The deal had a Sept. 15, 2011 deadline to close.  Cerberus and
Chatham are required to pay a $20 million termination fee under
the bankruptcy court-approved asset purchase agreement.

Innkeepers insists that no changes have occurred to the hotel
owner's business that would trigger the "material adverse effect"
clause in the buyout's contract.

                     About Innkeepers USA Trust

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

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

Apollo Investment Corporation acquired Innkeepers in June 2007.

Innkeepers USA Trust and 91 affiliates filed for Chapter 11
protection (Bankr. S.D.N.Y. Case No. 10-13800) on July 19, 2010.
The Company's consolidated assets for 2009 totaled approximately
$1.5 billion.  As of July 19, 2010, the Company and its affiliates
have incurred $1.29 billion of secured debt.

Paul M. Basta, Esq., at Kirkland & Ellis LLP, in New York; Anup
Sathy, P.C., Esq., Marc J. Carmel, Esq., at Kirkland & Ellis in
Chicago; and Daniel T. Donovan, Esq., at Kirkland & Ellis in
Washington, D.C., serve as counsel to the Debtors.  AlixPartners
is the restructuring advisor and Marc A. Beilinson is the chief
restructuring officer.  Moelis & Company is the financial advisor.
Omni Management Group, LLC, is the claims and notice agent.
Attorneys at Morrison & Foerster, LLP, represent the Official
Committee of Unsecured Creditors.


INTL RARITIES: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: International Rarities Corp.
        331 2nd Avenue South, Suite 410
        Minneapolis, MN 55401

Bankruptcy Case No.: 11-45512

Chapter 11 Petition Date: August 19, 2011

Court: United States Bankruptcy Court
       District of Minnesota (Minneapolis)

Judge: Robert J. Kressel

Debtor's Counsel: Thomas G. Wallrich, Esq.
                  HINSHAW & CULBERTSON LLP
                  333 South Seventh Street, Suite 2000
                  Minneapolis, MN 55402
                  Tel: (612) 333-3434
                  E-mail: twallrich@hinshawlaw.com

Scheduled Assets: $1,353,295

Scheduled Debts: $3,025,921

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/mnb11-45512.pdf

The petition was signed by Stephen Hastings, president.


JAZS PIZZA: Case Summary & 8 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Jazs Pizza, Inc.
        dba Domino's Pizza
        742 Eastlake Drive
        Spring Creek Drive, NV 89815

Bankruptcy Case No.: 11-52639

Chapter 11 Petition Date: August 18, 2011

Court: United States Bankruptcy Court
       District of Nevada (Reno)

Judge: Bruce T. Beesley

Debtor's Counsel: Gerry G. Zobrist, Esq.
                  GERRY G. ZOBRIST, LTD.
                  5440 West Sahara Ave., Ste. 206
                  Las Vegas, NV 89146
                  Tel: (702) 656-5156
                  Fax: (702) 656-5157
                  E-mail: gerry@zobristlaw.com

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

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

A list of the Company's eight largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/nvb11-52639.pdf

The petition was signed by Chad Wolster, president.


J.C. EVANS: Can Hire Counsel and Financial Advisors
---------------------------------------------------
The Honorable Craig A. Gargotta authorized JCE Delaware, Inc. and
its debtor affiliates to employ (i) Cox Smith Matthews
Incorporated as counsel, effective as of the Petition Date, and
(ii) Burnham Securities Inc. and Reeves, Snyder & Harthcock, LLP
as their financial advisors, nunc pro tunc to the Petition Date.

The Court considered the objections by the U.S. Trustee and First
State Bank Central Texas to certain aspects of the application for
financial advisors, and finds that both Burnham Securities and RSH
are eligible for employment by the Debtors, pursuant to Section
327(a) of the Bankruptcy Code.

All requests of Burnham Securities and RSH for payment of
indemnity, contribution, or otherwise pursuant to the
indemnification provisions of certain agreements will be made by
means of an interim or final fee application and will be subject
to the approval and review by the Court to ensure that payment
conforms to the terms of the indemnity and is reasonable.

Cox Smith Matthews can be contacted at:

          Mark E. Andrews, Esq.
          George H. Tarpley, Esq.
          Stephen K. Lecholop II, Esq.
          COX SMITH MATTHEWS INCORPORATED
          1201 Elm Street, Suite 3300
          Dallas, Texas 75270
          Tel: (214) 698-7800
          Fax: (214) 698-7899

                   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.


JAMESTOWN MALL: Gets 90-Day Extension to Satisfy $2 Million Loan
----------------------------------------------------------------
Lisa Brown at STLToday.com reports that Jamestown Mall's owner has
a 90-day reprieve to satisfy a $2 million loan or the shopping
center will face foreclosure.

According to the report, Jamestown Mall's New York-based owner,
Jamestown Mall Realty Management LLC, filed for Chapter 11
bankruptcy to halt foreclosure proceedings brought by its lender,
MFC Real Estate LLC.  MFC alleged the mall owner defaulted on a
more than $2 million loan in June, and the mall was placed in
receivership.

The report notes in a hearing before Judge Charles Rendlen in the
bankruptcy case, MFC's attorneys consented to halt foreclosure
proceedings for 90 days, giving the mall's owner until mid-
November to find a new buyer.

"We're going to (delay) the foreclosure sale for 90 days, by
consent, that's going to allow us some time to see if we can scare
up a suitable buyer for the property or come to some other
resolution with the lender, and failing that, they're going to
have the right to proceed with the foreclosure," the report quotes
Scott Greenberg, an attorney representing the mall's owner, at the
hearing on Aug. 15, as saying.

                    About Jamestown Mall

Jamestown Mall Realty Management LLC is owner of the shopping
center in Little Neck, N.Y.

Jamestown Mall, which opened in 1973, saw its occupancy drop
sharply in recent years, dipping below 44 percent in 2008.

Jamestown Mall Realty Management LLC bought the mall for $3.3
million in 2009.  Some other entities, such as Macy's, own the
anchor tenant spaces at the 1.25 million square foot shopping
center.

The Company filed for Chapter 11 protection (Bankr. E.D. Miss.
Case No. 11-48354) on Aug. 8, 2011, with Judge Charles E. Rendlen
III presiding.  Keith D. Price, Esq., and Scott A. Greenberg,
Esq., at Sandberg Phoenix & Von Gontard, represents the Debtor.
The Debtor estimated assets and debts of between $1 million
and $10 million.


JEFFREY J BERTRAND: Claims Over Tug Boat Non-Dischargeable
----------------------------------------------------------
Louisiana Marine Towing, LLC, v. Jeffrey J. Bertrand, Adv. Proc.
No. 10-05032 (Bankr. W.D. La.), seeks a determination that the
debts allegedly owed by Jeffrey J. Bertrand are nondischargeable
under 11 U.S.C. Sections 523(a)(2) and 523(a)(4).  In an Aug. 19,
2011 Memorandum Ruling, a copy of which is available at
http://is.gd/sdPRkrfrom Leagle.com, Bankruptcy Judge Robert
Summerhays granted Louisiana Marine relief in part under 11 U.S.C.
Sec. 523(a)(2).

In 2008, Louisiana Marine entered into an agreement with a company
owned and operated by Mr. Bertrand, Inspection Construction
Unlimited, for the construction of a tug boat known as the M/V
Lady Lauren.  Louisiana Marine made multiple progress payments to
ICU for the Lady Lauren totaling $1.1 million.  The last two
progress payments of $165,000 and $110,000 were made on Jan. 28,
2009, and March 30, 2009.  According to Louisiana Marine, the last
two progress payments were made only after Mr. Bertrand personally
represented that all of ICU's vendors and subcontractors for the
Lady Lauren had been paid.  Louisiana Marine contends that,
despite these representations, subcontractors and vendors who
purportedly provided labor and materials in the construction of
the Lady Lauren filed liens for amounts that ICU did not pay
totaling $138,984.40.

Louisiana Marine and ICU also had preliminary discussions about
the construction of a second tug boat that was to be called the
M/V Miss Cricket.  Although the parties never entered into a
formal contract with respect to the Miss Cricket, Louisiana Marine
agreed to pay ICU $200,000 as a deposit to purchase steel for the
construction of the Miss Cricket.  According to Louisiana Marine,
Bertrand and ICU used less than half of the $200,000 steel deposit
to purchase steel.  Instead, Louisiana Marine contends that Mr.
Bertrand and ICU used the remaining amounts for unauthorized
expenditures.

The Court held that the amounts paid by Louisiana Marine on
account of claims and liens filed against the Lady Lauren are
nondischargeable under 11 U.S.C Sec. 523(a)(2)(A).

The Court will hold a telephonic status conference for 9:00 a.m.
on Sept. 23, 2011, to set deadlines for additional submissions
and, if necessary, to set an evidentiary hearing on liquidating
the amount of damages subject to the Court's nondischargeability
finding.  The court will initiate the telephone conference. In all
other respects, the relief requested by Louisiana Marine in its
complaint is denied.

Jeffrey J. Bertrand Sr. and Karen T. Bertrand filed for Chapter 11
bankruptcy protection (Bankr. W.D. La. Case No. 10-50008) in 2010.


KEYUAN PETROCHEMICALS: Gets NASDAQ Delinquency Notice
-----------------------------------------------------
Keyuan Petrochemicals, Inc. has received an additional notice from
NASDAQ stating the Company is not in compliance with Listing Rule
5250(c)(1) for continued listing due to not filing its Form 10-Q
for the three months ended June 30, 2011 by the due date of August
15, 2011.

As previously announced, the Company received notices from the
NASDAQ on April 7, 2011 and on May 19, 2011, stating that the
Company was not in compliance with Listing Rule 5250(c)(1) for
continued listing due to not filing its Form 10-K for the year
ended December 31, 2010 by the due date of March 31, 2011, and its
Form 10-Q for the three months ended March 31, 2011 by the due
date of May 16, 2011, respectively.

Management would like to remind shareholders that on July 26th the
NASDAQ Hearings Panel granted a stay of delisting of the Company's
securities pending the Company's scheduled hearing to be held on
August 25, 2011.  As a result, the Company's securities will
remain listed, however halted, on the NASDAQ Global Select Market
pending further action by the Hearings Panel.

Keyuan Petrochemicals, Inc., established in 2007 and operating
through its wholly-owned subsidiary, Keyuan Plastics, Co. Ltd., is
located in Ningbo, China and is a leading independent manufacturer
and supplier of various petrochemical products.  Having commenced
production in October 2009, Keyuan's operations include an annual
petrochemical manufacturing design capacity of 720,000 MT for a
variety of petrochemical products, with facilities for the storage
and loading of raw materials and finished goods, and a technology
that supports the manufacturing process with low raw material
costs and high utilization and yields.  In order to meet
increasing market demand, Keyuan plans to expand its manufacturing
capacity to include a SBS production facility, additional storage
capacity, a raw material pre-treatment facility, and an asphalt
production facility.


KOREA TECHNOLOGY: Case Summary & 18 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Korea Technology Industry America, Inc.
          aka KTIA
        Attn: Soung Joon Kim
        1245 East Brickyard Road, Suite 110
        Salt Lake City, UT 84106

Bankruptcy Case No.: 11-32259

Chapter 11 Petition Date: August 22, 2011

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

Judge: R. Kimball Mosier

Debtor's Counsel: Steven J. McCardell, Esq.
                  DURHAM JONES & PINEGAR
                  111 East Broadway, Suite 900
                  P.O. Box 4050
                  Salt Lake City, UT 84110-4050
                  Tel: (801) 415-3000
                  Fax: (801) 415-3500
                  E-mail: smccardell@djplaw.com

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

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

The petition was signed by Soung Joon Kim, chief operating
officer.

Debtor's List of 18 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Gavilan Petroleum, LLC             Loan                   $218,919
1245 E. Brickyard Road, Suite 110
Salt Lake City, UT 84106

Pyo, Jae-wook                      Wages                   $79,673
308-3504 Parkrio Apt.
Shincheon-Dong Songpa-Gu
Seoul, 138-932 Korea

Ernst & Young, LLP                 Services                $73,966
8415 Datapoint Drive, Suite 900
San Antonio, TX 78229

Shin, Sung                         Wages                   $48,563

CBIZ Accounting Tax & Advisory     Services                $40,705
Services

Seo, Bong-kook                     Wages                   $37,980

Kim, Jung-hee                      Wages                   $20,440

Haynie & Company                   Services                $20,169

Bankruptcy Estate of Daniel        Wages                   $18,557
Schwendiman

Lee, Seong Weon                    Wages                   $17,683

Rock Law Office, P.C.              Services                $16,310

Park, Jeong-bin                    Wages                   $15,634

Shin, Bae-Gyun                     Debt                    $15,000

Kim, Seoung-hyun                   Wages                    $7,631

Jang, Jinwoo                       Wages                    $6,116

Shin, Yong-in                      Wages                    $4,000

Kim, Bum-soo                       Wages                      $529

Holme Roberts & Owen LLP           Services                   $124


KT SPEARS: Taps Professional Realty to Market Real Property
-----------------------------------------------------------
KT Spears Creek, LLC, asks the U.S. Bankruptcy Court for the
District of South Carolina for permission to employ Professional
Realty, Inc., as real estate agent.

The RE Agent will, among other things:

   -- prepare and distribute detailed marketing materials to
      potential purchasers and lessees for all of the Debtor's
      real property;

   -- provide weekly updates regarding the marketing of the
      Debtor's real property; and

   -- utilize Loopnet and targeted e-mail to specific end users
      and developers to market all of the Debtor's real property,
      which will include contacting potential out parcel users
      regarding the availability of all of the Debtor's real
      property.

George M. Lee, III, broker-in-charge of Professional Realty, tells
the Court that the RE Agent rates are:

   a. 6% on transactions up to $1,000,000;
   b. 4% on transactions between $1,000,000 and $4,000,000; and
   c. 3.5% on transactions above $4,000,000.

RE Agent waives any and all prepetition amounts owed it by the
Debtor.  The Debtor no longer owes RE Agent any amount for
prepetition services.

Mr. Lee assures the Court that the firm is a "disinterested
person" as that term is defined in section 101(14) of the
Bankruptcy Code.

Mr. Lee can be reached at:

         PROFESSIONAL REALTY, INC.
         8910 Two Notch Road, Suite 302
         Columbia, SC 29223
         Tel: (803) 419-4020

                         About KT Spears

KT Spears Creek, LLC, in Houston, Texas, filed for Chapter 11
bankruptcy (Bankr. S.D. Tex. Case No. 11-33991) on May 3, 2011,
Judge Letitia Z. Paul presiding.  The Debtor estimated $10 million
to $50 million in both assets and debts.  The petition was signed
by Kyle D. Tauch, sole
member.

The Hon. Letitia Z. Paul transferred the Debtor's Chapter 11 case
to the Bankruptcy Court for the District of South Carolina.  The
Case No. is 11-04241.  The case was assigned to Chief Judge John
E. Waites.  Daniel J. Reynolds, Jr., Esq., and G. William
McCarthy, Jr., Esq., at McCarthy Law Firm, LLC, represent the
Debtor as counsel.


LA VILLITA: ORIX Capital Wants Disclosure Statement Disapproved
---------------------------------------------------------------
Creditor ORIX Capital Markets, LLC, asks the U.S. Bankruptcy Court
for the Western District of Texas to deny approval of the
Disclosure Statement explaining La Villita Motor Inns JV's Chapter
11 Plan dated June 17, 2011.

ORIX Capital as the special servicer for U.S. Bank National
Association, as trustee for GS Mortgage Securities Corporation II,
Commercial Mortgage Pass-Through Certificates, Series 1999-C1,
holds a final judgment against the Debtor (affirmed by the Supreme
Court of Texas), in the amount, as of the Petition Date, of not
less than $8,564,759, and which aggregates in excess of $9,155,000
as of July 1, 2011.  ORIX's claim is secured by substantially all
of the Debtor's assets and continues to accrue interest,
attorneys' fees and expenses.

According to Orix, the Debtor's Disclosure Statement must not be
approved because it provides false, inadequate and misleading
information regarding a Chapter 11 plan that is patently and
facially unconfirmable.  The Plan is based on the Debtor's attempt
to re-litigate and negate ORIX's right to recover its judgment and
related claims, including claims for prepetition interest, costs
and fees owing by the Debtor.

Orix adds that the Plan also:

   a. acknowledges that the Debtor may not have adequate funds to
   pay administrative expense priority claims upon its effective
   date, and contains provision for the payment of certain of
   those claims (professional fee claims) over time, in quarterly
   installments;

   b. disallows portions of ORIX's prepetition claim that have
   been finally adjudicated by the Texas state courts, even if the
   Debtor defaults in performing the Plan;

   c. enjoins claims against non-debtor officers, directors,
   shareholders, employees, other responsible persons of the
   Debtor, including Liaquat Pirani.  Although the Plan styles
   this injunction as a temporary injunction, it is to persist so
   long as the Debtor complies with the Plan, and thus, is
   indeterminate, open ended and also exceeds this Court's
   jurisdiction;

   d. violates the Absolute Priority Rule in allowing equity
   holders to retain their interests in the Debtor without
   providing for the payment in full, with interest, of all senior
   classes of creditors;

   e. provides for a "limited channeling injunction" structure
   without any trust provision or other adherence to the mandates
   of section 524(g) of the Bankruptcy Code; and

   f. provides exculpation, as to all Bankruptcy Case matters
   (other than for willful misconduct and gross negligence) to
   members of the Debtor, its officers, directors, employees,
   professionals, and any of their former or current respective
   members, agents, representatives, affiliates, advisors, agents,
   and attorneys.

Orix notes that in light of the flawed Plan, it filed two requests
for alternative relief: (i) a motion for relief from the automatic
stay; and (ii) a motion for dismissal or conversion of Bankruptcy
Case.

                              The Plan

According to the Disclosure Statement, the Plan proposes to pay
the lender with a five-year Class 2 Note.  The Plan proposes to
pay the holders of General Unsecured Claims over a period of not
more than two years from the Effective Date.  All cash necessary
for the Reorganized Debtor to make payments pursuant to the Plan
will be obtained from the Debtor's existing Cash Balances and the
operations of the Debtor or Reorganized Debtor.

Under the Plan, the lender will receive the Class 2 Note and
related security documents containing these terms:

   a) Preservation of Liens. The Class 2 Note will remain secured
      by all liens, security interests, other interests, and
      rights in, to and against all property of the Debtor and the
      estate securing the Allowed Lender Secured Claim under the
      Lender Loan Documents determined to be valid Liens by Final
      Order.

   b) The original principal balance of the Class 2 Note will be
      an amount equal to the Allowed Class 2 Claim plus any
      accrued interest from the date the Class 2 Claim is Allowed
      through the date of issuance of the Class 2 Note, minus all
      adequate protection payments made by the Debtor from the
      Petition Date through the date of issuance of the Class 2
      Note, minus all Pendency Interest Payments.

   c) Interest will accrue on the Class 2 Note after the date of
      issuance of the Class 2 Note, at the rate of 5% simple
      interest per annum.

   d) The Class 2 Note will be amortized over 25 years.

   e) The term of the Class 2 Note will be five years.

   f) The Class 2 Note will be paid in equal monthly installments
      of principal and interest commencing 30 days following the
      date of issuance of the Class 2 Note and continuing on the
      same day of each successive month thereafter for 59 months
      with a final balloon payment on the 60th month equal to the
      remaining balance due under the Class 2 Note.

Each holder of an Allowed Class 3 General Unsecured Claims will
receive one 100% of their total Allowed Class 3 Claim which will
be paid in equal monthly installments.

All Insider Claims will be converted to equity on the Effective
Date in full and final satisfaction, discharge, and release of the
Insider Claims.

Class 5 Equity Interests will retain their Equity Interests in the
Debtor as they existed on the Petition Date.

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

                   Disclosure Statement Hearing

The Court has rescheduled to Sept. 26, 2011, at 9:30 a.m., the
hearing to consider adequacy of the Disclosure Statement
explaining the Debtor's Chapter 11 Plan.

At the hearing, the Court will also consider ORIX's requests for
relief from stay and for dismissal or conversion of the Debtor's
case to one under Chapter 7 of the Bankruptcy Code.

The hearing was originally scheduled for Aug. 24.

                  About La Villita Motor Inns JV

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


LEGENDALE LIMITED: Case Summary & Largest Unsecured Creditor
------------------------------------------------------------
Debtor: Legendale Limited Partnership
        157 Skyland Boulevard
        Tijeras, NM 87059

Bankruptcy Case No.: 11-13758

Chapter 11 Petition Date: August 18, 2011

Court: United States Bankruptcy Court
       New Mexico (Albuquerque)

Judge: James S. Starzynski

Debtor's Counsel: Ronald E. Holmes, Esq.
                  THE LAW OFFICES OF RON HOLMES
                  112 Edith Blvd NE
                  Albuquerque, NM 87102-3524
                  Tel: (505) 268-3999
                  Fax: (505) 268-3939
                  E-mail: ronholmes@ronholmes.com

Estimated Assets: $0 to $50,000

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

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

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
IHM Financial Corporation                        $2,387,527
4900 Scottsdale Road Suite
5000
Scottsdale, AZ 85251

The petition was signed by Bert Gearhart, general partner.


LYMAN LUMBER: Committee Taps Fafinsky Mark as Bankruptcy Counsel
----------------------------------------------------------------
The Official Committee of Unsecured Creditors of Lyman Lumber
Company, et al., asks the U.S. Bankruptcy Court for the District
of Minnesota for authorization to retain Fafinsky, Mark & Johnson,
P.A., as its bankruptcy counsel.

Among others, FJM will:

(a) consult with the debtor-in-possession and the Office of the
     United States Trustee regarding administration of the cases;

(b) advise the Committee with respect to its rights, power and
     duties as they relate to the cases;

(c) investigate the acts, conduct, assets, liabilities and
     financial condition of the Debtors;

(d) assist the Committee in analyzing the Debtors' pre-petition
     and postpetition relationships with its creditors, equity
     interest holders, employees, and other parties in interest;
     and

(e) assist and negotiate on the Committee's behalf in matters
     relating to the claims of the Debtors' other creditors.

FMJ will be compensated at its standard hourly rates for
engagements of this nature.  Currently, the hourly rates for the
bankruptcy and insolvency professionals expected to perform
work on this case are: paralegals $150, associate attorneys range
from $215 to $295, and partners $400.

To the best of the Committee's and FMJ's knowledge, information
and belief, FMJ does not represent any interest adverse to the
Debtors' estate or its creditors in connection with these Chapter
11 cases, and FMJ is disinterested within the meaning of 11 U.S.C.
Sections 327(a), 328 and 1103(b) and Bankruptcy Rule 2014.

Proposed counsel for the Official Committee of Unsecured Creditors
may be reached at:

     Connie A. Lahn, Esq.
     David E. Runck, Esq.
     Lorie A. Klein, Esq.
     FAFINSKY MARK & JOHNSON, P.A.
     400 Flagship Corporate Center
     775 Prairie Center Drive
     Eden Prairie, MN 55344
     Tel: (952) 995-9500
     Fax: (952) 995-9577
     E-mail: Connie.Lahn@fmjlaw.com
             David.Runck@fmjlaw.com
             Lorie.Klein@fmjlaw.com

                         About Lyman Lumber

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

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

BGA Management, LLC d/b/a Alliance Management, which developed and
executed a sale process and marketing strategy for the Debtors'
assets, may be reached at:

          James Cullen
          ALLIANCE MANAGEMENT
          Carlson Towers 110
          601 Carlson Parkway
          Minneapolis, MN 55305
          Tel: 952-475-2225
          http://www.alliancemgmt.com/


MADELINE P CORP: Case Summary & 10 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Madeline P. Corp.
        Paseo San Juan
        G-22 Calle Adoquines
        San Juan, PR 00926

Bankruptcy Case No.: 11-07058

Chapter 11 Petition Date: August 20, 2011

Court: United States Bankruptcy Court
       District of Puerto Rico (Old San Juan)

Debtor's Counsel: Wigberto Lugo Mender, Esq.
                  LUGO MENDER & CO
                  Centro Internacional De Mercadeo
                  Carr 165 Torre 1, Suite 501
                  Guaynabo, PR 00968
                  Tel: (787) 707-0404
                  E-mail: wlugo@lugomender.com

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

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

Debtor-affiliate filing for Chapter 11:

                                         Petition
  Debtor                Case No.           Date
  ------                --------           ----
Ramoni Inc.             11-07059        08/20/2011
   Assets: $1,000,001 to $10,000,000
  Debts: $1,000,001 to $10,000,000

The petitions were asigned by Ramon Portela-Fernandez, president.

A list of Madeline P. Corp.'s 10 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/prb11-07058.pdf

A list of Ramoni's 11 largest unsecured creditors filed together
with the petition is available for free at
http://bankrupt.com/misc/prb11-07059.pdf


MAJESTIC CAPITAL: Seeks to Extend Exclusivity to Dec. 28
--------------------------------------------------------
BankruptcyData.com reports that Majestic Capital filed with the
U.S. Bankruptcy Court a motion to extend the exclusive period that
the Company can file a Chapter 11 Plan and solicit acceptances
thereof through Oct. 28, 2011 and Dec. 28, 2011, respectively.
The Court scheduled a Sept. 13, 2011 hearing to consider the
motion.

                      About Majestic Capital

Headquartered in Poughkeepsie, New York City, Majestic Capital,
Ltd., fdba CRM Holdings, Inc., filed for Chapter 11 protection
(Bankr. S.D.N.Y. Case No. 11-36225) on April 29, 2011.

Affiliates also sought Chapter 11 protection Bankr. S.D.N.Y. Case
Nos. 11-36221 - 11-36234) on April 29, 2011.  Bankruptcy Judge
Cecelia G. Morris presides over the case.  Thomas Genova, Esq., at
Genova & Malin, Attorneys represents the Debtors in their
restructuring effort.  Murphy & King, P.C. serves as the Debtors'
co-counsel.  The Debtors tapped Michelman & Robinson, LLP, as
special counsel, and Day Seckler, LLP, as accountants and
financial advisors.  The Debtor disclosed $436,191,000 in assets
and $421,757,000 in liabilities as of Dec. 31, 2010.

Bruce F. Smith, Esq., and Steven C. Reingold, Esq., at Jager Smith
P.C. represent the Official Committee of Unsecured Creditors.  The
Committee has also tapped J.H. Cohn LLP as its financial advisors.


MCDONALD BROTHERS: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: McDonald Brothers, Inc.
        P.O. Box 1606
        Southern Pines, NC 28388

Bankruptcy Case No.: 11-81363

Chapter 11 Petition Date: August 22, 2011

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

Debtor's Counsel: John A. Northen, Esq.
                  Northen Blue, LLP
                  P.O. Box 2208
                  Chapel Hill, NC 27514-2208
                  Tel: (919) 968-4441
                  E-mail: jan@nbfirm.com

                         - and -

                  Stephanie Osborne-Rodgers, Esq.
                  NORTHEN BLUE, LLP
                  P.O. Box 2208
                  Chapel Hill, NC 27514-2208
                  Tel: (919) 968-4441
                  E-mail: sor@nbfirm.com

Scheduled Assets: $10,540,708

Scheduled Debts: $10,132,635

The petition was signed by Angus A. McDonald, Jr., president.

Debtor's List of 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
IBSA                               --                     $334,869
P.O. Box 2310
Smithfield, NC 27577

Cox Industries, Inc.               --                     $274,440
P.O. Box 1124
Orangeburg, SC 29116

NC Department of Revenue           Sales Tax              $175,000
501 N. Wilmington Street
P.O. Box 25000
Raleigh, NC 27640-5000

Com Tech                           --                     $167,733

Longleaf Truss Company             --                     $111,731

House Hasson Hardware              --                     $105,158

Colonial Materials                 --                      $94,593

Weyerhauser NR Company             --                      $94,334

Diamond Hill Plywood Company       --                      $88,836

Interior Distributors, Inc.        --                      $86,565

Fay Block Materials                --                      $86,158

MW Windows & Ply Gem               --                      $79,894

Welco Lumber Corp.                 --                      $68,767

Huttig Building Products           --                      $56,657

Cedar Creek, LLC                   --                      $53,058

BB&T Bankcard Corporation          --                      $50,124

American Express                   --                      $48,432

Jeld-Wen Millwork                  --                      $47,316

Dunning Capital                    --                      $45,000

Carolina Atlantic Dist.            --                      $41,496


MIRABILIS VENTURES: Judge Accepts Dismissal of Malpractice Suit
---------------------------------------------------------------
Evan Weinberger at Bankruptcy Law360 reports that a Florida
federal judge on Monday accepted the voluntary dismissal of a $200
million accounting malpractice lawsuit brought by the trustee
overseeing the liquidation of Mirabilis Ventures Inc. less than a
month after ruling that the claim could not be allowed.

The trustee, R.W. Cuthill, agreed to drop his claims against
Rachlin Cohen & Holtz LLP and its senior partner Laurie S. Holtz,
after U.S. District Judge Gregory A. Presnell ruled in late July
that the trustee could not pursue the $200 million claim.

As reported in the Troubled Company Reporter on Aug. 1, 2011,
District Judge Gregory A. Presnell said Mirabilis Ventures, Inc.,
cannot pursue recovery of $200 million in damages at trial in the
lawsuit against its former accountants.  Mirabilis is also barred
from seeking recovery for the "adverse tax consequences, including
interest and penalties," or the "legal and expert fees and costs"
in the complaint.  Judge Presnell said throughout the discovery
period, Mirabilis relied on a bogus "calculation" -- which it has
since abandoned -- of the $200 million -- which represents an
allowed claim of the U.S. government pursuant to a settlement in
the bankruptcy case -- and failed to produce any evidence
supporting it.

Mirabilis is one of a number of entities involved in an enormous
tax fraud scheme masterminded by Frank Amodeo.  In April 2008, the
Government filed an in rem civil forfeiture action against
Mirabilis, seeking to recover certain parcels of real estate that
had been purchased by Mr. Amodeo.  The Government alleged that Mr.
Amodeo and (unidentified) co-conspirators had been involved in "a
massive tax fraud, wire fraud, and money laundering scheme," that
they had used a number of entities, including Mirabilis, to carry
it out.  The Government said the conspirators had knowingly failed
to remit to the IRS payroll taxes totaling $181,807,552.  The
Government filed a motion to dismiss the Mirabilis bankruptcy,
arguing that it had been filed in bad faith.  Pursuant to a
compromise, the Government agreed to drop its motion to dismiss,
the parties agreed that the Government could obtain some but not
all of the property in the Mirabilis bankruptcy estate, and
Mirabilis agreed to the allowance of a $200 million unsecured
forfeiture claim in favor of the Government.

Mirabilis Ventures, Inc., v. Rachlin Cohen & Holtz, LLP and Laurie
S. Holtz, Case No. 6:09-cv-271 (M.D. Fla.), was commenced Dec. 5,
2008, after Mirabilis had reached a compromise with the Government
in the bankruptcy case, but before the deal was approved.  In its
Second Amended Complaint, Mirabilis asserts claims for
professional negligence (Count I), breach of fiduciary duty (Count
II); negligent supervision (Count III); and breach of fiduciary
duty by aiding and abetting (Count IV). Count III is asserted
against Rachlin; the other counts are asserted against both
defendants.  Mirabilis contends that the Defendants' actions
caused the company to suffer "damage to [its] business [and]
property, including an allowed claim in bankruptcy against it in
the sum of Two Hundred Million Dollars ($200,000,000)," as well as
"adverse tax consequences, including interest and penalties," and
"legal and expert fees and costs."

In a July 28, 2011 Order, Judge Presnell granted the Defendants'
Motion in Limine to Exclude Evidence of Improper and Undisclosed
Damages.  The judge held that based on the information provided to
the Defendants, no reasonable factfinder could determine
Mirabilis's potential liability.  A copy of Judge Presnell's
ruling is available at http://is.gd/lgzKMNfrom Leagle.com.

                     About Mirabilis Ventures

Orlando, Florida-based Mirabilis Ventures Inc. is a private equity
company, which acquired companies companies that has a strategic
fit into its unique business model.  Mirabilis and its related
entity, Hoth Holdings, LLC, filed voluntary Chapter 11 petitions
(Bankr. M.D. Fla. Case Nos. 08-04327 and 08-04328) on May 27,
2008.  Another related entity, AEM, Inc., filed its Chapter 11
bankruptcy petition (Bankr. M.D. Fla. Case No. 08-04681) June 5,
2008.  Elizabeth A. Green, Esq., and Jimmy D. Parish, Esq., at
Latham Shuker Eden & Beaudine LLP, served as the Debtors' counsel.
When the Debtors filed for protection from their creditors, they
listed between $50 million and $100 million each in assets and
debts.

The Bankruptcy Court in October 2009 confirmed the joint amended
plan of liquidation submitted by Mirabilis, Hoth and AEM.  R.
William Cuthill was named as president of Mirabilis to oversee the
Debtors' liquidation.  A full-text copy of the amended joint
disclosure statement explaining the Debtors' plan of liquidation
is available for free at http://bankrupt.com/misc/mirabilis.ds.pdf


MOMENTA INC: Court Rejects Admin. Claim for Unreceived Goods
------------------------------------------------------------
Ningbo Chenglu Paper Products Manufacturing Co. seeks allowance of
an administrative expense claim of $163,527.95 against Momenta
Inc. with respect to goods that were ordered by the Debtor from
Ningbo and delivered to the Debtor or its customers.  The orders
are detailed in six invoices:

     -- Invoices 4095 and 4096 detail shipments of goods from
Ningbo, China to the Debtor's customer in Felixstowe, United
Kingdom with balances due in the amount of $39,281.04 and
$39,024.72 respectively.

     -- Invoice 4093 details a shipment of goods from Ningbo,
China to the Debtor's customer in Southampton, United Kingdom with
a balance due in the amount of $57,780.

     -- Invoice 4090 details a shipment of goods from Ningbo,
China to the Debtor's customer in Montreal, Canada and has a
balance due in the amount of $6,250.92.

     -- There is no record as to what happened to the shipments in
invoices 4095, 4096, 4093 and 4090 -- Drop Shipments -- when they
are arrived at Felixstowe, Southampton, and Montreal (i.e. were
they placed in a warehouse, held by a customs agent, delivered to
a common carrier, held by a bailee, etc.).  In addition, samples
worth $1,873.68 were delivered directly to the Debtor as part of
the Drop Shipments.

     -- Goods in invoices 4104 and 4102 were delivered to the
Debtor's warehouse and the invoices have balances due in the
amount of $1,529.91 and $19,661.36 respectively.

The United States Trustee and the Debtor object to the supplier's
request.  The Debtor concedes that all of the shipments were
received within 20 days of the petition date and that the Samples,
invoice 4104, and invoice 4102 give rise to an administrative
expense claim of $23,070.95 since they were received by the Debtor
within 20 days of the petition date.  The parties dispute whether
the Drop Shipments were "received by the debtor" within 20 days of
the petition date within the meaning of 11 U.S.C. Sec. 503(b)(9)
and whether any administrative expense claim should be disallowed
under Sec. 502(d).

In an Aug. 19, 2011 Memorandum Opinion, Bankruptcy Judge J.
Michael Deasy held that the Drop Shipments were not "received by
the debtor" as required by Sec. 503(b)(9), and therefore Ningbo's
request for allowance of an administrative expense claim in
connection with those shipments is disallowed.  Ningbo's request
for an administrative expense claim of $23,070.95, is allowed
because it meets the requirements of Sec. 503(b)(9) and cannot be
disallowed under Sec. 502(d).  A copy of Judge Deasy's decision is
available at http://is.gd/kdTAZffrom Leagle.com

          Charles R. Bennett, Jr., Esq.
          Christopher M. Condon, Esq.
          John C. Elstad, Esq.
          MURPHY & KING P.C.
          One Beacon Street, 21 Floor
          Boston, MA 02108
          Tel: 617 226-3408
          Fax: 617-423-0498
          E-mail: crb@murphyking.com
                  cmc@murphyking.com
                  jce@murphyking.com

Attorney for Ningbo is:

          David E. LeFevre, Esq.
          HAGE & HODES, P.A.
          1855 Elm Street
          Manchester, NH 03104
          Tel: 603-668-2222
          Fax: 603-641-6333
          E-mail: dleFevre@hagehodes.com

                        About Momenta Inc.

Based in Northwood, New Hampshire, Momenta Inc. filed for Chapter
11 bankruptcy protection on Oct. 23, 2010 (Bankr. D. N.H. Case No.
10-14548).  Momenta Inc., formerly known as American Traditional
Designs, resorted to Chapter 11 after losing a contract with
Walmart, the Company's largest client, which provided about 30% of
the company's revenue.  Momenta is a scrapbook company.  Products
include paper craft supplies, stickers, stencils, albums,
templates for digital scrapbook designs and stationery.  Charles
R. Bennett, Jr., Esq., Hanify & King, represents the Debtor.  The
Debtor estimated assets and debts between $1 million and $10
million in its petition.


NATIONAL CENTURY: NY Pension Funds' Claims Dismissed
----------------------------------------------------
A group of pension funds led by the New York City Employees'
Retirement System sought and obtained a ruling from the U.S.
District Court for the Southern District of Ohio dismissing its
claims against a former executive of National Century Financial
Enterprises Inc.

Rebecca Parrett, former vice-chairwoman of NCFE, was convicted on
March 13, 2008, in federal court in Columbus, and was sentenced
to 25 years in prison.  She was one of the five executives
accused of defrauding investors by diverting money for improper
uses.

The executives reportedly made up data in financial reports and
moved money back and forth between accounts to conceal shortfalls
in investor funds.  Investors lost nearly $2 billion before NCFE
went bankrupt in 2002.

The pension funds' lawyer, Steven Fineman, Esq., at Lieff
Cabraser Heimann & Bernstein LLP, in New York, said the funds
"have no reasonable prospect of achieving a financial recovery"
on their claims against Ms. Parrett given her status as a federal
prisoner and her obligation through the NCFE criminal cases to
forfeit $1.7 billion in property representing the proceeds of the
conspiracy and to pay $2.3 billion in restitution.

Since Ms. Parrett is the sole remaining defendant in the lawsuit,
styled New York City Employees' Retirement System, et al. v. Bank
One, N.A., et al., No. 03-CV-09973, dismissal of the pension
funds' claims would conclude the case.

Earlier, the pension funds entered into an agreement with the
other defendants of the lawsuit, which called for the dismissal
of their claims against NCFE principals, Lance Poulsen, Barbara
Poulsen and Donald Ayers.

In another development, the Ohio District Court ordered the
dismissal of Beacon Group III-Focus Value Fund LP's claims
against the Poulsens, Ms. Parrett, Kuld Corp. and Cheyenne-Blaze
LLC.

The dismissal comes after Beacon Group's announcement early last
month that it would not be prosecuting its claims against the
remaining defendants of its lawsuit.  The lawsuit, styled Beacon
Group III-Focus Value Fund, L.P. vs. Lance K. Poulsen, et al., is
now closed.

             Poulsen to Prosecute Suit Vs. Bank One

In accordance with the order issued by Judge James Graham on
March 30, 2011, requiring Mr. Poulsen to show cause why the
lawsuit against Bank One should not be dismissed, Mr. Poulsen
advised the district court judge of his intention to proceed with
his lawsuit against Bank One N.A.

Mr. Poulsen said that he has already spent more than $4.9 million
for his legal defense.

Mr. Poulsen sued the bank for damages in connection with its
alleged gross misconduct in the trusteeship of the securitization
portfolio known as NPF XII.  He alleged that he and four others
were wrongfully convicted of numerous charges of investor fraud
due to the bank's failure to do its responsibilities under the
indenture.

                Amedisys, et al. Drop Objection

Amedisys Inc., et al. withdrew their objection to JPMorgan Chase
Manhattan Bank's motion for protective order in the state court
case they filed against the bank.

The plaintiffs previously asked the Ohio District Court to deny
the motion, saying JPMorgan is not entitled to a protective order
and should be required to participate in discovery.

                Credit Suisse Files Suggestion of
                    Supplemental Authority

Credit Suisse Securities (USA) LLC and Credit Suisse New York
Branch filed court papers discussing the U.S. Supreme Court
decision entered in the case Janus Capital Group Inc. v. First
Derivative Traders, and the Sixth Circuit decision in Ashland
Inc. v. Oppenheimer & Co., in connection with their motion for
summary judgment.

Credit Suisse Securities and Credit Suisse New York are both
defendants of lawsuits filed by Pharos Capital Partners L.P. and
a group of noteholders.

Jeffrey Smith, Esq., at Bingham McCutchen LLP, in New York, said
the Supreme Court's decision in the Janus case confirms that
judgment should be entered dismissing the fraud-based claims of
Pharos and the noteholders group.

In the Janus case, the Supreme Court reversed a decision by the
Court of Appeals for the Fourth Circuit which held Janus Capital
Management LLC liable for false statements made in mutual fund
prospectuses that affected the price of JCG's stock.  It rejected
arguments that Janus Capital Management's participation in
preparing the prospectuses rendered it liable for making those
statements.

The prospectuses were filed by Janus Investment Fund, an entity
owned by mutual fund investors and is administered by Janus
Capital Management, a subsidiary of JCG.

Mr. Smith argued that the Supreme Court's decision in the Janus
case instructs that, with respect to Pharos' and the noteholders'
fraud claims, statements made by NCFE are not properly
attributable to Credit Suisse.

"The Supreme Court's reasoning and holding in [Janus case] apply
fully here.  Credit Suisse cannot be held liable for
misrepresentations made by NCFE," the lawyer said in court
papers.

Mr. Smith also argued that the Sixth Circuit's decision in the
Ashland case also supports Credit Suisse's arguments.

In the Ashland case, the Sixth Circuit affirmed a district court
ruling dismissing Ashland's securities fraud claims because of
its failure to adequately plead that it reasonably relied on
Oppenheimer's alleged misrepresentation or that the defendant
acted with scienter.

Ashland, which invested in auction-rate securities (ARS), accused
Oppenheimer of misrepresenting the safety and liquidity of the
ARS market.

According to Mr. Smith, the testimony of former NCFE employees
confirms that Credit Suisse did not know about the company's
fraud prior to its collapse.  He pointed out that the fraud at
NCFE was concealed from Credit Suisse and other market
participants until late 2002 based on the testimonies of people
who admitted of committing the crime.

                    MetLife, et al. Respond

In a statement with the Ohio District Court, Metropolitan Life
Insurance Company and Lloyds TSB Bank plc dismissed Credit
Suisse's arguments, saying the Janus case does not preclude the
Ohio District Court from finding that Credit Suisse made the
statements contained in documents that were distributed to
investors.

"Unlike the defendant in Janus, Credit Suisse was not only
intimately involved in the drafting of the offering documents but
the evidence adduced on the summary judgment record demonstrates
that Credit Suisse had ultimate authority over the content," said
the companies' lawyer, Harold Levison, Esq., at Kasowitz Benson
Torres & Friedman LLP, in New York.

Mr. Levison said that Credit Suisse had veto authority over the
content of the documents, had the right to review and approve
them before they were distributed to investors, and could insist
on whatever disclosures it believed were appropriate.

"The Janus Court made clear that the key to determining whether a
party is liable for a misrepresentation is whether that party
exercises control over its content," Mr. Levison said in the
statement.  "The evidence demonstrates that Credit Suisse
exercised such control."

The statement drew support from Pharos Capital Partners L.P. and
from a group of noteholders in Arizona represented by Texas-based
Gibbs & Bruns LLP.

Robert Millimet, Esq., at Bickel & Brewer, in Dallas, Texas, said
the decision in the Janus case is "inapposite" as to Pharos
Capital because it has submitted "substantial evidence of
actionable misrepresentations and omissions" that Credit Suisse
made directly to Pharos Capital in addition to the offering
documents.

For its part, the Arizona noteholders argued that nothing in the
Janus case negates their claims or strengthens Credit Suisse's
defenses against them.  They pointed out that the Janus case is
inapplicable to their claims, which are all "state law claims."

With respect to the decision in the Ashland case, the group said
that Ashland's claims of fraud "were premised on reliance on
merely vague statements."

"The vague oral assurances on which the Ashland plaintiff claimed
to have relied bear no resemblance to the chronic fraudulent
statements, omissions and acts wrought upon the Arizona
noteholders by Credit Suisse," said the group's lawyer, Kathy
Patrick, Esq., at Gibbs & Bruns LLP, in Houston, Texas.

Ms. Patrick pointed out that the Arizona noteholders' reliance is
not based on "vague" statements by Credit Suisse but on systemic
misstatements and fraudulent acts by Credit Suisse.  She further
said that the offering documents at issue were replete with
misstatements and did not disclose the fraud at NCFE.

                      About National Century

Headquartered in Dublin, Ohio, National Century Financial
Enterprises, Inc. -- http://www.ncfe.com/-- was the largest
issuer of medical accounts receivable asset backed securities in
the United States before it collapsed in bankruptcy in November
2002 amid allegations of widespread fraud and misappropriation of
assets.  To date, 10 senior executives of the company have been
convicted or pled guilty to federal charges of conspiracy,
securities fraud, wire fraud, and money laundering arising out of
the NCFE securitization program.

NCFE -- through the CSFB Claims Trust, the Litigation Trust, the
VI/XII Collateral Trust, and the Unencumbered Assets Trust -- is
in the midst of liquidating estate assets.  The Company filed for
Chapter 11 protection on November 18, 2002 (Bankr. S.D. Ohio Case
No. 02-65235).  The Court confirmed the Debtors' Fourth Amended
Plan of Liquidation on April 16, 2004.  Paul E. Harner, Esq., at
Jones Day, represented the Debtors.

Bankruptcy Creditors' Service, Inc., publishes NATIONAL CENTURY
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by National Century Financial Enterprises Inc. and its
units.  (http://bankrupt.com/newsstand/or 215/945-7000)


NATIONAL CENTURY: Firm Says Bankr. Ct. Has Authority vs. Stein
--------------------------------------------------------------
The bankruptcy court overseeing the lawsuit filed by Jones Day
and Matthew Kairis has the authority to adjudicate their claims
against Tracy Hampton-Stein, a lawyer from the Ohio-based law
firm said in court papers.

Matthew Corcoran, Esq., at Jones Day, in Columbus, Ohio, said the
U.S. Bankruptcy Court for the Southern District of Ohio has the
authority to hear and determine the plaintiffs' claims for
damages as a result of Ms. Hampton-Stein's alleged violation of
the so-called "Barton doctrine."

Ms. Hampton-Stein allegedly violated the U.S. Supreme Court's
doctrine in the case known as Barton v. Barbour when she sued the
administrator of a liquidating trust created pursuant to National
Century Financial Enterprises Inc.'s confirmed Chapter 11 plan as
well as his counsel, Jones Day, in Florida state courts without
seeking leave.

The first of the two lawsuits filed was voluntarily dismissed
after it was transferred to the Ohio Bankruptcy Court.
Meanwhile, Ms. Hampton-Stein was ordered in 2009 to preliminarily
enjoin from prosecuting the second lawsuit.

In a 20-page brief, Mr. Corcoran also said that the Supreme
Court's decision in the case known as Stern v. Marshall does not
apply to the hearing on the plaintiffs' claims.

In the Stern case, a widow brought an adversary proceeding in her
Chapter 11 case to recover for her stepson's alleged tortuous
interference with her expectancy of inheritance or gift from her
deceased husband.  After granting certiorari, the Supreme Court
held that the bankruptcy court overseeing her case lacked
authority under Article III of the U.S. Constitution to enter a
final judgment on the widow's counterclaim.

Mr. Corcoran said the Stern case does not affect a bankruptcy
court's ability to enter final judgment in Barton actions.

"Stern did not address whether the bankruptcy court had subject
matter jurisdiction over the counterclaim in that case," the
lawyer said.  "Rather, Stern addresses the bankruptcy court's
authority when hearing certain state law counterclaims."

Mr. Corcoran further argued that only the Ohio Bankruptcy Court
has the jurisdiction to decide the plaintiffs' claims and that
jurisdiction includes the power to enter final judgment.

As of June 30, 2011, Jones Day and Mr. Kairis have reportedly
sustained damages of at least $574,539 resulting from Ms.
Hampton-Stein's alleged violations of the Barton doctrine.

Meanwhile, Ms. Hampton-Stein said that the Barton doctrine was
"never properly" applied  and cannot be applied to restrain her
from pursuing her Florida lawsuit against the defendants
including Jones Day and Mr. Kairis as decreed by the U.S. Supreme
Court in the Stern case.

Ms. Hampton-Stein further said that even if the Stern case is
inapplicable or had never been issued by the Supreme Court, the
Ohio Bankruptcy Court has made it clear in its preliminary
injunction that acts by rogue lawyers and other acts done without
ratification of the liquidating trust or outside of the course
and scope authorized by the trust are not protected by any
doctrine of law, Barton or otherwise.

In a related development, Jones Day disclosed the names of trial
witnesses who may be called to make testimonies regarding the
damages the firm incurred in connection with Ms. Hampton-Stein's
lawsuits.  The witnesses are Charles Oellermann and Joseph
Witalec who are both lawyers at Jones Day.

                      About National Century

Headquartered in Dublin, Ohio, National Century Financial
Enterprises, Inc. -- http://www.ncfe.com/-- was the largest
issuer of medical accounts receivable asset backed securities in
the United States before it collapsed in bankruptcy in November
2002 amid allegations of widespread fraud and misappropriation of
assets.  To date, 10 senior executives of the company have been
convicted or pled guilty to federal charges of conspiracy,
securities fraud, wire fraud, and money laundering arising out of
the NCFE securitization program.

NCFE -- through the CSFB Claims Trust, the Litigation Trust, the
VI/XII Collateral Trust, and the Unencumbered Assets Trust -- is
in the midst of liquidating estate assets.  The Company filed for
Chapter 11 protection on November 18, 2002 (Bankr. S.D. Ohio Case
No. 02-65235).  The Court confirmed the Debtors' Fourth Amended
Plan of Liquidation on April 16, 2004.  Paul E. Harner, Esq., at
Jones Day, represented the Debtors.

Bankruptcy Creditors' Service, Inc., publishes NATIONAL CENTURY
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by National Century Financial Enterprises Inc. and its
units.  (http://bankrupt.com/newsstand/or 215/945-7000)


NATIONAL CENTURY: VI/XII Trust Files Second Quarter Report
----------------------------------------------------------

                        Current        Paid to       Balance
                        Quarter        Date          Due
                        -------        -------       -------
A. FEES AND EXPENSES:
1. Trustee Compensation        -              -             -
2. Fees for Attorney for
    Trustee                   -              -             -
3. Fee for Attorney for
    Debtor              $62,648     $9,890,901             -
4. Other professionals    43,169      5,401,042             -
5. All expenses,
    including trustee   219,773     12,369,238             -

B. DISTRIBUTIONS:
6. Secured Creditors           -    494,353,519             -
7. Priority Creditors          -              -             -
8. Unsecured Creditors         -              -             -
9. Equity Security
    Holders                   -              -             -
10. Other Payments or
    Transfers            11,964     54,281,571             -
                     ----------    -----------    ----------
Total Plan Payments     $337,555   $576,296,272             -
                     ==========    ===========    ==========

                      About National Century

Headquartered in Dublin, Ohio, National Century Financial
Enterprises, Inc. -- http://www.ncfe.com/-- was the largest
issuer of medical accounts receivable asset backed securities in
the United States before it collapsed in bankruptcy in November
2002 amid allegations of widespread fraud and misappropriation of
assets.  To date, 10 senior executives of the company have been
convicted or pled guilty to federal charges of conspiracy,
securities fraud, wire fraud, and money laundering arising out of
the NCFE securitization program.

NCFE -- through the CSFB Claims Trust, the Litigation Trust, the
VI/XII Collateral Trust, and the Unencumbered Assets Trust -- is
in the midst of liquidating estate assets.  The Company filed for
Chapter 11 protection on November 18, 2002 (Bankr. S.D. Ohio Case
No. 02-65235).  The Court confirmed the Debtors' Fourth Amended
Plan of Liquidation on April 16, 2004.  Paul E. Harner, Esq., at
Jones Day, represented the Debtors.

Bankruptcy Creditors' Service, Inc., publishes NATIONAL CENTURY
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by National Century Financial Enterprises Inc. and its
units.  (http://bankrupt.com/newsstand/or 215/945-7000)


NATIONAL CENTURY: UAT Files Second Quarter Report
-------------------------------------------------

                        Current        Paid to       Balance
                        Quarter        Date          Due
                        -------        -------       -------
A. FEES AND EXPENSES:
1. Trustee Compensation        -              -             -
2. Fees for Attorney for
    Trustee                   -              -             -
3. Fee for Attorney for
    Debtor              $88,212     16,230,422             -
4. Other professionals    59,344     11,849,962             -
5. All expenses,
    including trustee   226,506     23,610,948             -

B. DISTRIBUTIONS:
6. Secured Creditors           -              -             -
7. Priority Creditors          -              -             -
8. Unsecured Creditors         -   $205,936,188             -
9. Equity Security
    Holders                   -              -             -
10. Other Payments or
    Transfers                 -              -             -
                     ----------    -----------    ----------
Total Plan Payments     $374,062   $257,627,521             -
                     ==========    ===========    ==========

                      About National Century

Headquartered in Dublin, Ohio, National Century Financial
Enterprises, Inc. -- http://www.ncfe.com/-- was the largest
issuer of medical accounts receivable asset backed securities in
the United States before it collapsed in bankruptcy in November
2002 amid allegations of widespread fraud and misappropriation of
assets.  To date, 10 senior executives of the company have been
convicted or pled guilty to federal charges of conspiracy,
securities fraud, wire fraud, and money laundering arising out of
the NCFE securitization program.

NCFE -- through the CSFB Claims Trust, the Litigation Trust, the
VI/XII Collateral Trust, and the Unencumbered Assets Trust -- is
in the midst of liquidating estate assets.  The Company filed for
Chapter 11 protection on November 18, 2002 (Bankr. S.D. Ohio Case
No. 02-65235).  The Court confirmed the Debtors' Fourth Amended
Plan of Liquidation on April 16, 2004.  Paul E. Harner, Esq., at
Jones Day, represented the Debtors.

Bankruptcy Creditors' Service, Inc., publishes NATIONAL CENTURY
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by National Century Financial Enterprises Inc. and its
units.  (http://bankrupt.com/newsstand/or 215/945-7000)


NET ELEMENT: Incurs $1.7 Million Second Quarter Net Loss
--------------------------------------------------------
Net Element, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q reporting a net loss
of $1.72 million on $26,058 of net revenues for the three months
ended June 30, 2011, compared with a net loss of $1.38 million on
$0 of net revenues for the same period during the prior year.

The Company also reported a net loss of $22.04 million on $104,204
of net revenues for the six months ended June 30, 2011, compared
with a net loss of $2.41 million on $0 of net revenues for the
same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $1.74 million
in total assets, $4.33 million in total liabilities and a $2.59
million total stockholders' deficit.

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

                        http://is.gd/V2hS1A

                          About Net Element

Miami, Fla.-based Net Element, Inc. (formerly TOT Energy, Inc.)
currently operates several online media websites in the film, auto
racing and emerging music talent markets.

Daszkal Bolton LLP, in Fort Lauderdale, Fla., expressed
substantial doubt about Net Element's ability to continue as a
going concern.  The independent auditors noted that the Company
has experienced recurring losses and has an accumulated deficit
and stockholders' deficiency at Dec. 31, 2010.

The Company reported a net loss of $3.1 million on $242 of sales
for the nine-month period ended Dec. 31, 2010.  The Company had a
net loss of $6.6 million on $0 revenue for the twelve months ended
March 31, 2010.


NORTEL NETWORKS: Judges OK Price Cut for Internet Phone Business
----------------------------------------------------------------
Michael Bathon at Bloomberg News reports that Nortel Networks Inc.
won court permission to cut the price of its former Internet phone
business by $25 million, almost 17 months after selling the unit
to Genband Inc.  At a joint hearing of courts in the U.S. and
Canada, the judges overseeing Nortel's liquidation approved the
reduction, which came after Genband challenged the price formula
used last year when it bought the unit. Genband completed the sale
in May 2010, paying $182.5 million into an escrow account,
according to court records

The report relates that after negotiating with Genband, Nortel's
units in Canada and the U.S. agreed to a final purchase price of
$157.7 million, according to court documents.

"These resolutions move the matter toward the ultimate resolution
of the case," U.S. Bankruptcy Judge Kevin Gross said in
Wilmington, Delaware, according to the Bloomberg report.

After a joint hearing with the U.S. Bankruptcy Court for the
District of Delaware and the Ontario Superior Court of Justice,
U.S. Bankruptcy Judge Kevin Gross and Canadian Justice Geoffrey
Morawetz approved the agreement, according to Law360.

                     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.  In August 2011,
Nortel won court approval to sell its intellectual property
portfolio to a group that includes Apple Inc. and Microsoft Corp.
for $4.5 billion.

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.


NORTHEAST THEATRE: Files for Chapter 7 Bankruptcy Protection
------------------------------------------------------------
James Haggerty at The Times-Tribune reports that Northeast Theatre
dba Electric Theatre Company filed for Chapter 7 protection in
U.S. Bankruptcy Court for the Middle District of Pennsylvania.

According to the report, the Company identified $17,176 in assets
and $80,049 in liabilities in court papers.  Earlier this month,
Electric Theatre Company ceased operations at the Hotel Jermyn,
where it had leased space and staged performances since 2004.

The report notes Starlight Musical Theatre, a 65-year-old light
opera company in San Diego, filed for Chapter 11 bankruptcy
organization in July.  Florida Stage, a 24-year-old theater
company in West Palm Beach, Fla., filed for bankruptcy liquidation
in June.

The report relates that decreasing donations and the stalled
economy spelled doom for the local company, said David Zarko,
former producing artistic director for Electric Theatre.  Reduced
ticket prices and budget cuts failed to help the organization turn
around, he said.

The report says the company lost $39,390 from July 1, 2009, until
the bankruptcy filing, according to court papers.

The group's primary assets include lights, controls, audience
seating and power tools valued at $8,280 and tables, chairs and
pianos valued at $6,280.  The organization has no secured
creditors but primary unsecured creditors include Mr. Zarko,
who is owed $16,536, and a Citibank credit card with a balance
of $13,588.

Formed in 1992 as Northeast Theatre Ensemble, the Company staged
new plays, dramatic readings and well-known productions at the
Scranton Cultural Center and Keystone College before settling at
the Hotel Jermyn.


NOVEMBER 2005: Hearing on Sale Procedures Continued to Sept. 8
--------------------------------------------------------------
The Bankruptcy Court began on Aug. 11 the hearing on the request
of November 2005 Land Investors, LLC, and its debtor-affiliates
for approval of procedures that will govern the proposed sale of
their assets.  The Court will hold another hearing on Sept. 8,
2011, at 9:30 a.m.

When they filed for bankruptcy, the Debtors struck a deal to sell
the portion of a real property that they own, which is part of the
Park Highlands real estate development, to BOH Park Highlands NV,
L.P. for $15.2 million.  To maximize the value of the asset, the
Debtors propose to accept competing offers by Sept. 15, 2011, and
hold an auction no later than Sept. 19.  The Debtors want the
hearing to approve a sale to the winning bidder on Sept. 23.

                        Road to Chapter 22

November 2005 -- together with DRHI Inc. -- acquired in May 2006
roughly 2,675 gross acres (1,947 net acres) located in North Las
Vegas, Nevada, which is part of the Park Highlands Project, from
the United States Bureau of Land Management.  At the time,
November 2005's sole member was NLV Holding.  NLV Holding in turn,
was owned by a consortium of four homebuilders.

November 2005 financed the acquisition of the Real Property with
first and second lien secured debt.  November 2005's debt was to
be repaid over time with proceeds from land sales to the Original
Owners at predetermined prices according to a predetermined take
down schedule.  Concurrently with the acquisition of the Real
Property, DRHI and November 2005 entered into a Development
Agreement with the City of North Las Vegas.

To allocate certain infrastructure costs contemplated by the
Development Agreement, November 2005 and DRHI also entered into an
Infrastructure Funding Agreement dated March 1, 2006, as
subsequently amended.  DRHI would over-fund its proportionate
share of costs to construct infrastructure for the Real Property,
and November 2005 would be obligated to reimburse to DRHI the
balance of any such over-funding.  To secure the repayment of any
amounts owing to DRHI for over-funding of infrastructure costs
under the IFA, November 2005 and DRHI also entered into the
Conditional Repayment and Funding Agreement dated May 9, 2006.

Due to a variety of factors including the global economic
recession that began in late 2007, depressed residential housing
markets and distress in global credit markets, demand for housing
in the Las Vegas market declined dramatically. The negative
effects of the foregoing on the Real Property were compounded by
November 2005's significant debt load.

In 2008, BOH Park Highlands purchased and was assigned all of
DRHI's interests in and to the Real Property, including
approximately 400 acres of real property and all rights of DRHI
under the Development Agreement, the IFA, the Refunding Agreement
and a Letter Agreement dated May 9, 2006.

Also in 2008, after securing multiple amendments, waivers,
extensions and forbearance concessions from lenders, November 2005
attempted to execute an out-of-court restructuring with its first
and second lien lenders.  November 2005 failed to achieve
unanimous consent from the lender groups with respect to the out-
of-court restructuring plan.

November 2005 filed for Chapter 11 bankruptcy in May 2009.  As
part of the 2009 Bankruptcy, November 2005 obtained confirmation
of a chapter 11 Plan of Reorganization on Nov. 4, 2009.  Under the
2009 Plan, $8 million in new capital (in the form of a converted
debtor-in-possession loan) was contributed into November 2005, and
NLV Holding became the sole member of the reorganized debtor.  In
addition, the first and second lien debt on the Real Property was
restructured, such that the Real Property was then encumbered by
(i) first lien debt of $125 million, and (ii) second lien debt of
$55 million.

The Debtors said the liens securing the first and second lien debt
remained subject to the pre-existing encumbrance of $3.2 million
owed to BOH as evidenced by the Refunding Agreement.

Still laden with a significant debt load and under continued
housing market stress, the reorganized November 2005 defaulted on
interest payments within four months of emergence from chapter 11.
The owners of November 2005 stopped funding infrastructure
improvements and service obligations in 2010.  As a result, for
most of 2010, the Real Property sat idle with no development and
no activity.

In December 2010, BOPH Inc. purchased 100% of the equity in NLV
Holding (for nominal consideration) with the intention of
restructuring November 2005's debt facilities so that the
Development Agreement could be amended to implement a new cost
sharing agreement to allocate infrastructure costs among all
owners within the Park Highlands Project.  BOPH Inc. is an
affiliate of BOH Park Highlands.

During the period between the 2009 Bankruptcy and July 2011,
certain parcels of the Real Property have been sold such that
November 2005's current interest in the Real Property is 1,340
gross acres (approximately 1,000 net acres).

Prior to the 2011 Petition Date, the Debtors and their
professional advisors diligently explored various out-of-court
alternatives. In March 2011, the Debtors retained Odyssey Capital
Group LLC to assist with these efforts.  Odyssey advised the
Debtors that a restructuring (either in court or out-of-court) was
not possible in light of (i) the depressed value of the Real
Property (as evidenced by a recent appraisal obtained by the
Debtors); (ii) the stated opposition to any restructuring by a
group of lenders holding approximately 48% of the first lien debt;
(iii) the stated threat of such lenders to file an involuntary
Chapter 7 petition against November 2005 if an organized sales
process was not promptly commenced; and (iv) the absence of any
working capital available to the Debtors.

The Debtors commenced Chapter 11 anew with the goal of selling
substantially all of their assets.  In the weeks leading up to the
Chapter 11 filing, Odyssey initiated discussions with BOH Park
Highlands regarding the possibility of BOH Park Highlands acting
as the stalking horse bidder.

The Debtors believe that a sale of the Property to the highest
bidder will provide the best opportunity for maximizing value to
creditors.  The distribution of the sale proceeds will be
distributed pursuant to a plan of liquidation.

The Debtors have said they intend to file the liquidation plan
prior to the hearing on the Sale Procedures Motion.  No plan has
been filed so far.

                            Breakup Fee

The Stalking Horse Agreement with BOH Park Highlands includes
certain protections for the Purchaser.  In particular, the Debtors
will be required to pay to the Purchaser a $300,000 fee and
reimburse the Purchaser for its reasonable, actual out-of-pocket
expenses incurred up to an aggregate amount of $100,000 in the
event the Debtors close a deal with another party or the deal is
terminated based on the Debtors' material breach.

The Purchaser has made a $1.52 million earnest money deposit. Of
the amount, $1.22 million was deposited with an escrow agent and
$300,000 was provided to the Debtors, which they may use to
satisfy administrative expenses.

Competing offers must be greater than $15.7 million, which
consists of the sum of (a) $15.2 million offered under the
pursuant to the Stalking Horse Agreement; (b) the Break-Up Fee
($300,000); (c) the Expense Reimbursement ($100,000); and (d) an
initial bid increment ($100,000).

The Stalking Horse Agreement originally obligates the Debtors to
obtain the entry of a Sale Procedures Order acceptable to
Purchaser by Aug. 12, 2011, and an order approving the sale
acceptable to Purchaser by Sept. 30.  In the event the Debtors
strike a deal with another bidder, the Stalking Horse Agreement
requires that deal to close by Oct. 30.

                     First Lien Lenders Object

Wilmington Trust, National Association, in its capacities as
administrative agent and collateral agent to the Debtors' first
lien lenders, has accused the Debtors of undertaking a unilateral
path to reacquire the collateral of the First Lien Lenders at an
artificially low price through an insider.

Wilmington Trust said it is not necessarily opposed to a sale of
the Property and in fact, may credit bid for the Property, and may
even seek to challenge the insider as the stalking horse bidder
and request that the Court instead approve the First Lien Agent to
be the stalking horse bidder.

Wilmington Trust, however, takes exception to certain provisions
described in the Sale Procedures Motion which "appear to be
designed solely for the benefit of the Debtors and their
affiliated stalking horse bidder, rather than maximizing the value
of the Property for the benefit of the creditors of the estates of
the Debtors."

Wilmington Trust challenges the proposal to repay a pre-existing
encumbrance of $3.2 million owed to BOH Park Highlands under the
Refunding Agreement from the sale proceeds prior to distribution
of any proceeds to the First Lien Lenders.  Wilmington Trust said
the lien of the First Lien Lenders is and remains a first priority
lien.

Wilmington Trust also objects to the Debtors' use of the $300,000
portion of BOH Park Highland's deposit.  Wilmington Trust said the
deposit constitutes proceeds of the First Lien Lenders' collateral
and the First Lien Lenders have not (and likely will not) consent
to the depletion of their cash collateral to pay for the costs of
administration in the Chapter 11 cases.

Wilmington Trust also said the payment of the break-up fee and
expense reimbursement is unnecessary given that the Stalking Horse
Bidder is an affiliate of the Debtor, and the fact that neither
the Debtors nor their financial advisors attempted to obtain any
competing bidders to act as the stalking horse bidder on
potentially more favorable terms.

Wilmington Trust said the marketing time before the proposed
auction date is insufficient for other potential bidders to get up
to speed on the other agreements affecting the Property and is
concerned that the Debtors' financial advisors will favor the
Stalking Horse Bidder, which the financial advisors promoted, and
that the financial advisors would not be motivated to work with
competing bidders to understand the Property and develop competing
bids.

Wilmington Trust said that as of the bankruptcy filing, the
Debtors owed the First Lien Lenders $123,488,120.30 pursuant to
the First Lien Credit Agreement.  Interest, late fees, and other
charges and expenses have accrued prior to and were unpaid as of
the Petition Date and will continue to accrue on and after the
Petition Date in accordance with the First Lien Credit Agreement.
As security for their obligations to the First Lien Lenders under
the First Lien Credit Agreement, the Debtors granted a first
priority security interest to the First Lien Agent in the Property
for the benefit of the First Lien Lenders.

As of the Petition Date, the Debtors also owed the Second Lien
Lenders $55,438,520.56.  Wilmington Trust also serves as Second
Lien Agent, succeeding Credit Suisse AG, Cayman Islands Branch.
Interest, late fees, and other charges and expenses have accrued
prior to and were unpaid as of the Petition Date and will continue
to accrue on and after the Petition Date in accordance with the
Second Lien Credit Agreement. As security for their obligations to
the Second Lien Lenders under the Second Lien Credit Agreement,
the Debtors granted a second priority security interest to the
Second Lien Agent in the Property for the benefit of the Second
Lien Lenders.

                About November 2005 Land Investors

November 2005 Land Investors LLC was formed on Oct. 11, 2005, for
the purpose of acquiring -- together with a third party entity --
roughly 2,675 gross acres (1,947 net acres) located in North Las
Vegas, Nevada, which is part of the Park Highlands Project.  NLV
Holding LLC is the 100% owner of November 2005.  BOPH Inc. is the
100% owner of NLV Holding.

November 2005 Land Investors LLC and affiliates, NLV Holding LLC
and BOPH Inc. filed separate Chapter 11 petitions (Bankr. D. Nev.
Case Nos. 11-20704, 11-20707 and 11-20709) on July 6, 2011,
estimating $10 million to $50 million in assets and $100 million
to $500 million in debts.  Judge Mike K. Nakagawa presides over
the 2011 cases.  James D. Greene, Esq., at Greene Infuso, LLP,
serves as the Debtors' bankruptcy counsel.

November 2005 Land first filed for Chapter 11 protection (Bankr.
D. Nev. Case No. 09-17474) on May 8, 2009.  Judge Nakagawa also
handled that case.  Richard F. Holley, Esq., at Santoro, Driggs,
Walch, Kearney, Holley & Thompson as general bankruptcy counsel.
In the 2009 petition, the Debtor disclosed estimated assets and
debts of $100 million to $500 million.

Wilmington Trust, National Association, succeeded Credit Suisse
AG, Cayman Islands Branch, as administrative agent and collateral
agent to the Debtors' First Lien Lenders.  Credit Suisse
Securities (USA) LLC serves as syndication agent.  The First Lien
Agent is represented by:

         Raniero D'Aversa, Jr., Esq.
         ORRICK, HERRINGTON & SUTCLIFFE LLP
         51 W. 52nd Street
         New York, NY 10019
         Telephone: (212) 506-5000
         Facsimile: (212) 506-5151
         E-mail: rdaversa@orrick.com

              - and -

         Jeffery D. Hermann, Esq.
         ORRICK, HERRINGTON & SUTCLIFFE LLP
         777 South Figueroa Street, Suite 3200
         Los Angeles, CA 90017
         Telephone: (213) 629-2020
         Facsimile: (213) 612-2499
         E-mail: jhermann@orrick.com

              - and -

         James Patrick Shea, Esq.
         Candace C. Carlyon, Esq.
         SHEA & CARLYON, LTD.
         701 Bridger Avenue, Suite 850
         Las Vegas, NV 89101
         Telephone: (702) 471-7432
         Facsimile: (702) 471-7432
         E-mail: jshea@sheacarlyon.com
                 ccarlyon@sheacarlyon.com


NOVEMBER 2005: Adjusts Terms of Odyssey's Hiring Amid Objections
----------------------------------------------------------------
November 2005 Land Investors, L.L.C., NLV Holding, L.L.C. and
BOPH, Inc., have withdrawn their application to employ Odyssey
Capital Group, LLC, as financial advisors and to provide the
Debtors a chief restructuring officer and additional personnel.

Instead, the Debtors -- through a separate, yet to be filed motion
-- plan to seek approval of the proposed compensation arrangement
contained in the Odyssey engagement letter through the auspices of
Bankruptcy Code Sec. 363(b) as a non-ordinary course of business
transaction.  The Debtors believe that the compensation
arrangement they have negotiated with Odyssey is eminently fair
and reasonable in the context of the proposed transaction.

Wilmington Trust, National Association, as administrative agent
and collateral agent to the First Lien Lenders, and the United
States Trustee have objected to the Debtors' prior application to
employ the firm.  The First Lien Lenders have questioned the
firm's disinterestedness.

In March 2011, the Debtors hired Odyssey to assist with them in
exploring out-of-court alternatives.  The firm advised the Debtors
that a restructuring -- either in court or out-of-court -- was not
possible in light of (i) the depressed value of the Debtor's real
property; (ii) the stated opposition to any restructuring by a
group of lenders holding approximately 48% of the first lien debt;
(iii) the stated threat of such lenders to file an involuntary
Chapter 7 petition against November 2005 if an organized sales
process was not promptly commenced; and (iv) the absence of any
working capital available to the Debtors.  The Debtors in
consultation with Odyssey, determined that seeking bankruptcy
protection under Chapter 11 of the Bankruptcy Code and selling
substantially all of their assets pursuant to the Bankruptcy Code
was in the best interests of all parties in-interest.  In that
regard, the Debtors retained Odyssey to act as their financial
advisors to run an organized, robust sales process for their real
property.  Each of the Debtors has appointed one of Odyssey's
principals, Grant Lyon, to their Board of Directors and elected
Mr. Lyon as President and Chief Restructuring Officer.  In
addition, each the Debtors have elected Nathan Barber of Odyssey
as Treasurer, Secretary, and Assistant Chief Restructuring
Officer.  Mr. Lyon and Mr. Barber would independently manage the
Debtors' Chapter 11 cases and the sale process.

In the weeks leading up to the Debtors' Chapter 11 filing, Odyssey
initiated discussions with BOH Park Highlands NV, L.P., regarding
the possibility of it acting as the stalking horse bidder for a
sale of substantially all of November 2005's assets in Chapter 11
proceedings.

Odyssey's Engagement Letter, among other things, proposes to pay
the firm:

     (i) a one-time payment of $100,000 for pre-petition work,
         payable upon execution of the Engagement Letter;

    (ii) a monthly retainer of $25,000 per month, subject to
         Bankruptcy Court approval, commencing on the Petition
         Date;

   (iii) subject to Bankruptcy Court approval, a transaction
         completion fee of 125 basis points (1.25%) of the gross
         amount of any completed restructuring, sale, or other
         disposition of the Property; and

    (iv) reimbursement of reasonable out-of-pocket expenses.

The Debtors will also provide indemnification.

Mr. Lyon has attested that neither Odyssey nor any professional
employee of Odyssey has any connection with or interest adverse to
the Debtors, their creditors, or any other party in interest, or
their attorneys and accountants.

Wilmington Trust said its objections arise as a result of serious
concerns relating to Odyssey's impartiality, disinterestedness,
and its ability to fairly market the Property to competing bidders
given the circumstances of its retention and its efforts, which
apparently have been devoted exclusively to proposing an insider
stalking horse bid for the Property.

Wilmington Trust pointed out that Mr. Lyon, Odyssey's President,
was appointed pre-petition as the sole member of the Board of
Directors for each of the Debtors.  In addition, the Debtors
"elected Mr. Lyon as President and Chief Restructuring Officer"
and elected "Mr. Nathan Barber of Odyssey as Treasurer, Secretary,
and Assistant Chief Financial Officer."  These appointments as a
director and officer of the Debtors make Odyssey an insider of the
Debtors and, as such, Odyssey cannot satisfy the "disinterested
persons" requirement of 11 U.S.C. Section 327(a).

The First Lien Agent also pointed out that Odyssey is being
retained by officers of Hillwood Development Company, LLC, a Perot
company based in Dallas, Texas, and the principal equity sponsor
of stalking horse bidder BOH and debtor BOPH Inc.  The First Lien
Agent noted that Fred Balda, the President of Hillwood
Communities, a division of Hillwood, signed Odyssey's Engagement
Letter on behalf of November 2005.

The creditors are entitled to have a fair and impartial process
for the sale of the Property, the First Lien Agent contends.

August B. Landis, Acting United States Trustee for the District of
Nevada, said Odyssey's retention is limited to that of an
"independent contractor with no fiduciary or agency relationship
to the Company or to any other party."  The Engagement Letter
seeks to divest the Bankruptcy Court of jurisdiction over disputes
relating to Odyssey's retention in contravention of 28 U.S.C.
Sections 157(a) and 1334(e)(2).

The Acting U.S. Trustee also noted that the Debtors' Application
is predicated upon 11 U.S.C. Sections 105, 328 and 363(b), not on
Section 327, and Odyssey does not qualify as a disinterested
person within the meaning of 11 U.S.C. Sections 101(14) and 327.
In addition, section 328 is not an independent grant of authority
for retaining and employing professionals; rather, that provision
speaks to the terms and conditions of a retention and employment
engagement approved under 11 U.S.C. Sec. 327.

The Acting U.S. Trustee said the Application is trying to shield
Odyssey's fees from review under 11 U.S.C. Sec. 330.  The Debtors'
argument, however, is flawed.

                About November 2005 Land Investors

November 2005 Land Investors LLC was formed on Oct. 11, 2005, for
the purpose of acquiring -- together with a third party entity --
roughly 2,675 gross acres (1,947 net acres) located in North Las
Vegas, Nevada, which is part of the Park Highlands Project.  NLV
Holding LLC is the 100% owner of November 2005.  BOPH Inc. is the
100% owner of NLV Holding.

November 2005 Land Investors LLC and affiliates, NLV Holding LLC
and BOPH Inc. filed separate Chapter 11 petitions (Bankr. D. Nev.
Case Nos. 11-20704, 11-20707 and 11-20709) on July 6, 2011,
estimating $10 million to $50 million in assets and $100 million
to $500 million in debts.  Judge Mike K. Nakagawa presides over
the 2011 cases.  James D. Greene, Esq., at Greene Infuso, LLP,
serves as the Debtors' bankruptcy counsel.

November 2005 Land first filed for Chapter 11 protection (Bankr.
D. Nev. Case No. 09-17474) on May 8, 2009.  Judge Nakagawa also
handled that case.  Richard F. Holley, Esq., at Santoro, Driggs,
Walch, Kearney, Holley & Thompson as general bankruptcy counsel.
In the 2009 petition, the Debtor disclosed estimated assets and
debts of $100 million to $500 million.

Still laden with a significant debt load and under continued
housing market stress, the reorganized November 2005 defaulted on
interest payments within four months of emergence from chapter 11.
The owners of November 2005 stopped funding infrastructure
improvements and service obligations in 2010.

Wilmington Trust, National Association, succeeded Credit Suisse
AG, Cayman Islands Branch, as administrative agent and collateral
agent to the Debtors' First Lien Lenders.  Credit Suisse
Securities (USA) LLC serves as syndication agent.  The First Lien
Agent is represented by lawyers at Orrick, Herrington & Sutcliffe
LLP and Shea & Carlyon, Ltd.


NOVEMBER 2005: Lenders Dispute Use of Collateral to Pay Lawyers
---------------------------------------------------------------
Wilmington Trust, National Association, as agent to the first lien
lenders, objects to payments proposed in the request of November
2005 Land Investors LLC and its affiliates to employ Greene
Infuso, LLP, as counsel.  The First Lien Agent said it recognizes
that the Debtors require the assistance of counsel and is not
necessarily opposed to Greene Infuso's employment. However, the
First Lien Agent has not -- and likely will not -- consent to the
payment of any fees and costs incurred by Greene Infuso out of the
collateral of the First Lien Lender.  Accordingly, to the extent
the Court enters an order approving the Application, the First
Lien Agent wants any order to provide that all fees and expenses
incurred by Greene Infuso will not be surcharged to, or paid out
of the collateral of the First Lien Lenders.

Wilmington Trust said that as of the bankruptcy filing, the
Debtors owed the First Lien Lenders $123,488,120.30 pursuant to
the First Lien Credit Agreement.  Interest, late fees, and other
charges and expenses have accrued prior to and were unpaid as of
the Petition Date and will continue to accrue on and after the
Petition Date in accordance with the First Lien Credit Agreement.
As security for their obligations to the First Lien Lenders under
the First Lien Credit Agreement, the Debtors granted a first
priority security interest to the First Lien Agent in the Property
for the benefit of the First Lien Lenders.

As of the Petition Date, the Debtors also owed the Second Lien
Lenders $55,438,520.56.  Wilmington Trust also serves as Second
Lien Agent, succeeding Credit Suisse AG, Cayman Islands Branch.
Interest, late fees, and other charges and expenses have accrued
prior to and were unpaid as of the Petition Date and will continue
to accrue on and after the Petition Date in accordance with the
Second Lien Credit Agreement. As security for their obligations to
the Second Lien Lenders under the Second Lien Credit Agreement,
the Debtors granted a second priority security interest to the
Second Lien Agent in the Property for the benefit of the Second
Lien Lenders.

                About November 2005 Land Investors

November 2005 Land Investors LLC was formed on Oct. 11, 2005, for
the purpose of acquiring -- together with a third party entity --
roughly 2,675 gross acres (1,947 net acres) located in North Las
Vegas, Nevada, which is part of the Park Highlands Project.  NLV
Holding LLC is the 100% owner of November 2005.  BOPH Inc. is the
100% owner of NLV Holding.

November 2005 Land Investors LLC and affiliates, NLV Holding LLC
and BOPH Inc. filed separate Chapter 11 petitions (Bankr. D. Nev.
Case Nos. 11-20704, 11-20707 and 11-20709) on July 6, 2011,
estimating $10 million to $50 million in assets and $100 million
to $500 million in debts.  Judge Mike K. Nakagawa presides over
the 2011 cases.  James D. Greene, Esq., at Greene Infuso, LLP,
serves as the Debtors' bankruptcy counsel.

November 2005 Land first filed for Chapter 11 protection (Bankr.
D. Nev. Case No. 09-17474) on May 8, 2009.  Judge Nakagawa also
handled that case.  Richard F. Holley, Esq., at Santoro, Driggs,
Walch, Kearney, Holley & Thompson as general bankruptcy counsel.
In the 2009 petition, the Debtor disclosed estimated assets and
debts of $100 million to $500 million.

Still laden with a significant debt load and under continued
housing market stress, the reorganized November 2005 defaulted on
interest payments within four months of emergence from chapter 11.
The owners of November 2005 stopped funding infrastructure
improvements and service obligations in 2010.

Wilmington Trust, National Association, succeeded Credit Suisse
AG, Cayman Islands Branch, as administrative agent and collateral
agent to the Debtors' First Lien Lenders.  Credit Suisse
Securities (USA) LLC serves as syndication agent.  The First Lien
Agent is represented by lawyers at Orrick, Herrington & Sutcliffe
LLP and Shea & Carlyon, Ltd.


OLD COLONY: Plan Outline Hearing Scheduled for Sept. 1
------------------------------------------------------
The U.S. Bankruptcy Court for the District of Massachusetts will
convene a hearing on Sept. 1, 2011, at 2:00 p.m., to consider
adequacy of the Disclosure Statement explaining Old Colony, LLC
and and Molokai Partners, LLC's proposed  Plan of Reorganization.

Wells Fargo Bank, N.A., successor in interest to The Jackson State
Bank & Trust, tells the Court that the Disclosure Statement
hearing must be scheduled after the Court has had an opportunity
to resolve the dispute over the value of the real estate.

Wells Fargo notes that based on the information contained in the
Disclosure Statement, Wells Fargo and the Debtor have different
beliefs concerning the value of the Debtor's real property.  The
Debtor believe that the real property has a value of $9,000,000
and Wells Fargo believes the actual value exceeds that figure by
at least 50%.  The valuation of that property will have a
significant impact on the Debtor's proposed plan, the amount of
Wells Fargo's allowed secured claim, whether Wells Fargo makes the
election available to it under section 1111(b) of the Bankruptcy
Code and, ultimately, the feasibility of the proposed plan.

As reported in the Troubled Company Reporter on July 28, 2011, the
Plan designates four classes of claims and interests against the
Debtor and provides for the treatment of those claims and
interests:

   * Class 1 Wells Fargo's Secured Claim.  Holder of such claim
     will receive a Wells Fargo Reorganization Note, which is a
     full recourse secured term promissory note in the amount of
     $9,000,000.  It will have a seven year term with payments of
     interest only for the first two years.

   * Class 2 Wells Fargo's Unsecured Claim.  Holder of such claim
     will receive a pro rata share of the Unsecured Claim
     Distribution Fund.  Class 2 Claim total approximately
     $8,750,000.

   * Class 3 Unsecured Claims.  Holder of those claims will
     receive a pro rata share of the Unsecured Claim Distribution
     Fund.  Class 3 Claims total approximately $3,718,000.

   * Class 4 Interests in the Debtor. All Class 4 Interests will
     be deemed cancelled on the Plan Effective Date.

The Unsecured Claim Distribution Fund is in the amount of
$623,000.

Under the Plan, Molokai or its nominee will make available to fund
payments under the Plan or/and as working capital the sum of
$1,000,000, of which:

   -- $623,000 will be used to fund the Unsecured Claim
      Distribution Fund;

   -- $150,000 will be used to fund a separate reserve fund to be
      used to pay Allowed Administrative Claims;

   -- $227,000 will be made available to the New Managing Member
      for working capital needs of the Reorganized Debtor
      including to pay Priority Tax Claims, day to day operating
      expenses and capital improvements to the Inn.

Pursuant to the Plan, the Reorganized Debtor will amend and
restate its current Amended and Restated Operating Agreement dated
June 2008 as required by Molokai or its nominee in its sole
discretion. From and after the Effective Date of the Plan, Molokai
or its
nominee will be issued and will hold all of the Membership
Interests in the Reorganized Debtor.

A full-text copy of the Disclosure Statement dated July 1, 2011,
is available for free at:

          http://bankrupt.com/misc/OLDCOLONY_DSJul1.PDF

Wells Fargo is represented by:

         RIEMER & BRAUNSTETN, LLP
         Jeffrey D. Ganz, Esq.
         3 Center Plaza
         Boston, MA 02108
         Tel: (617) 880-3568
         E-mail: jganz@riemerlaw.com

                       About Old Colony, LLC

Saugus, Massachusetts-based Old Colony, LLC, dba The Inn At
Jackson Hole, filed for Chapter 11 bankruptcy protection (Bankr.
D. Mass. Case No. 10-21100) on Oct. 11, 2010.  Donald F.
Farrell, Jr., Esq., at Anderson Aquino LLP, assists the Debtor in
its restructuring effort.  The Debtor estimated its assets and
debts at $10 million to $50 million as of the Petition Date.


OLD CORKSCREW: Can Access BMO Harris Cash Collateral Until Sept. 1
------------------------------------------------------------------
On Aug. 10, 2011, the U.S. Bankruptcy Court entered an agreed
interim order granting Old Corkscrew Plantation, LLC, et al.,
authorization to use cash collateral of BMO Harris Bank, N.A.,
successor by merger to M&I Marshall & Ilsley Bank (the "Bank"), in
accordance with a 4 week budget.

The use of cash collateral may vary from the amounts identified in
the Budget by not more than 10% for each line item and also on an
aggregate basis.

As of the Petition Date, the Bank asserts that the Debtors were
indebted to the Lender in the principal amount of approximately
$54,434,354.05, plus accrued and accruing interest, costs, and
attorneys' fees.

The authority to use cash collateral will terminate on the earlier
of (a) entry of an order terminating the Debtors' use of cash
collateral, or (b) Sept. 1, 2011, unless otherwise extended by
order of the Court or in writing by the Bank.

Adequate protection will be in the form of (i) a post-petition
replacement lien on all property that is of the same nature and
type as the Bank Pre-Petition Collateral; provided, however, the
Replacement Collateral will not include causes of action (or
proceeds thereof) held by the Debtors or their bankruptcy estates
arising under Chapter 5 of the Bankruptcy Code and/or analogous
nonbankruptcy law ("Avoidance Actions"), or the proceeds thereof
("Avoidance Action Proceeds"), and (ii) monthly adequate
protection payments to the Lender during the interim period in the
amount of $222,000.

The final hearing on the motion will be be conducted on Sept. 1,
2011, at 10:30 a.m.

Parties objecting or responding to the permanent relief requested
in the motion will file a written objection or response no later
than 5 calendar days before the Final Hearing.

                About Old Corkscrew Plantation LLC

Fort Myers, Florida-based Old Corkscrew Plantation LLC, whose
oranges are made into Minute Maid and Tropicana juice, filed
for Chapter 11 bankruptcy (Bankr. M.D. Fla. Case No. 11-14559) on
July 29, 2011, disclosing $25,264,047 in assets and $60,751,633 in
debts.  Old Corkscrew sought Chapter 11 protection along with its
affiliates.  The Debtors' orange groves are valued at $24 million.
Peter Steven Singerman, Esq. -- singerman@bergersingerman.com --
at Berger Singerman P.A., serves as the Debtors' bankruptcy
counsel.  Scott Westlake, the Debtors' managing member, signed the
petition.  Mr. Westlake is also listed as the Debtors' largest
unsecured creditor, with $4,827,906 owed.  Another $338,511 debt
is owed to Scott and Vicki Westlake.


OLSEN AGRICULTURAL: Court OKs Clyde Hamstreet as Consultant
-----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Oregon has approved
Olsen Agricultural Enterprises LLC's application to employ Clyde
A. Hamstreet & Associates, LLC as restructuring consultant and
financial advisor.

Upon retention, the firm, will among other things:

   a) define the business operations, the intercompany
      connections, ownerships and governance process,

   b) identify noncore assets and estimated market value,
      potential purchasers and liquidation strategy for building
      war chest,

   c) map, flag, and index the various farm plots, with one color
      for owned and another for leased land.  Provide detailed
      descriptions of the plot and an information packet for each

The firm's rate are:

   Personnel                              Rates
   ---------                              -----
   Clyde Hamstreet                        $500/hour
   Shirley Dunn                           $360/hour
   Gary Lawrence                          $310/hour
   Hannah Schmidt                         $230/hour
   Kathy Million                          $100/hour

               About Olsen Agricultural Enterprises

Based in Monmouth, Oregon, Olsen Agricultural Enterprises LLC is
the surviving entity of a merger transaction that was consummated
on June 1, 2011.  In the merger transaction, Olsen Agricultural
Company, Inc., an Oregon corporation, Jenks-Olsen Land Co., an
Oregon general partnership, Olsen Vineyard Company, LLC, an Oregon
limited liability company and The Olsen Farms Family Limited
Partnership were merged with and into Olsen Agricultural
Enterprises.

Olsen Agricultural Enterprises filed for Chapter 11 bankrutpcy
(Bankr. D. Ore. Case No. 11-62723) on June 1, 2011.  Judge Frank
R. Alley III presides over the case.  Clyde A. Hamstreet &
Associates, LLC, serves as the Debtor's restructuring consultant
and financial advisor.

An official committee of unsecured creditors has been appointed in
the case.

In its petition, the Debtor listed $10 million to $50 million in
assets and debts.  The petition was signed by Robin G. Olsen,
operations director.


PEARLAND SUNRISE: Hearing on Case Dismissal Plea Set for Sept. 19
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Texas will
convene a hearing on Sept. 19, 2011, at 9:30 a.m., to consider the
motion to dismiss, or in the alternative convert the Chapter 11
case of Pearland Sunrise Lake Village I, LP to one under Chapter 7
of the Bankruptcy Code.

As reported in the Troubled Company Reporter on July 26, 2011,
Judy A. Robbins, the U.S. Trustee for Region 7, explained that the
Debtor has not filed complete and accurate monthly operating
reports on a regular basis.  Without operating reports, the Court,
the U.S. Trustee, and the creditors are unable to determine if the
Debtor has a reasonable likelihood of rehabilitation or if there
has been a continuing loss to or diminution of the estate.  The
Court, the U.S. Trustee, and the creditor do not know whether
Debtor is paying its
postpetition obligations as they come due or whether Debtor is
accruing administrative expenses.

Marble Falls, Texas-based Pearland Sunrise Lake Village I, LP, dba
SRLVI, was chartered in June 2005 for the purpose of acquiring and
developing an approximately 5.8 acres of land at 9415 Broadland,
Texas.  Office space of 36,008 square feet of retail space and
42,973 square feet of office space was built on the property.  The
Company filed for Chapter 11 bankruptcy protection (Bankr. W.D.
Tex. Case No. 10-11926) on July 9, 2010.  Frank B. Lyon, Esq., at
the Law Offices of Frank B. Lyon, in Austin, Texas, represents the
Debtor.  In its schedules, the Debtor disclosed $10,253,717 in
assets and $16,222,127 in liabilities.


PJ FINANCE: Court OKs CBRE Capital as Financial Advisor
-------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware has
approved PJ Finance Company LLC's application to employ CBRE
Capital Advisors Inc. as their financial advisor and investment
banker.

As financial advisor and investment banker, CBRE Capital will
review the Debtors' business operations, financial projections and
potential debt capacity.  The firm will also be tasked to assist
the Debtors in determining an alternative capital structure and
long-term business plan; give advice concerning any restructuring
or recapitalization of the Debtors' outstanding debt as well as in
evaluating potential debt financing or new equity; attend board
and committee meetings; provide testimony, among other things.

In return for its services, CBRE Capital will receive a monthly
advisory fee in the sum of $125,000 and will be reimbursed for its
expenses.  The Debtors also agreed to indemnify the firm.

CBRE Capital will also receive, among other things, a sale
transaction fee equal to 1% of the aggregate consideration
received from any sale transaction by the Debtors; and a
restructuring fee equal to 0.625% of the aggregate amount of debt
forgiven or re-tranched up to $50 million, and 0.875% of the
aggregate amount of debt forgiven or re-tranched in excess of $50
million.

CBRE Capital disclosed in a declaration that it does not represent
any party with interest materially adverse to the Debtors and
their estates.

                        About PJ Finance

Chicago, Illinois-based PJ Finance Company, LLC, owns apartment
communities in the states of Arizona, Florida, Georgia, Tennessee
and Texas.  PJ Finance owns or holds ownership interests in 32
apartment communities that collectively have more than 9,500
rentable units.  It has 20 apartment locations in Texas, and the
remaining 12 in Arizona, Florida, Georgia and Tennessee.  The day-
to-day operations of the portfolio are managed by a third party,
WestCorp Management Group One, Inc.

PJ Finance and various affiliates filed for Chapter 11 bankruptcy
protection (Bankr. D. Del. Lead Case No. 11-10688).  Michelle E.
Marino, Esq., and Stuart M. Brown, Esq., at DLA Piper LLP (US), in
Wilmington, Delaware, serve as bankruptcy counsel.  Kurtzman
Carson Consultants, LLC, is the Debtors' claims and notice agent.
An official committee of unsecured creditors has been named in the
case.  Christopher A. Jarvinen, Esq., and Mark T. Power, Esq., at
Hahn & Hessen LLP, represent the committee as lead counsel.
Richard Scott Cobb, Esq., and William E. Chipman, Jr., Esq., at
Landis Rath & Cobb, in Wilmington, Del., serve as the committee's
local counsel.

The Debtors estimated total assets of at least $275 million
(estimated value of portfolio securing loan to Bank of America)
and total debts of at least $479 million ($475 million owed to
BofA, $4.4 million trade debt).

PJ Finance said it has a commitment for Gaia Real Estate
Investments LLC to invest $42 million and serve as the foundation
for a reorganization plan.


PMI MORTGAGE: S&P Revises Counterparty Credit Rating From 'CCC-'
----------------------------------------------------------------
Standard & Poor's Ratings Services revised the counterparty credit
and financial strength ratings on PMI Mortgage Insurance Co. (PMI)
to 'R' from ' CCC-'. At the same time, Standard & Poor's placed
its 'CC' counterparty credit and issue-level ratings on PMI's
holding company, The PMI Group Inc. (TPG), on CreditWatch with
negative implications.

PMI released a statement on Aug. 19, 2011, indicating that it had
been placed under supervision by the Arizona Department of
Insurance. PMI and its subsidiary PMAC are no longer able to write
new business and PMI can no longer make interest payments on the
outstanding $285 million of surplus notes issued to its holding
company. PMI is also prohibited from a variety of actions without
the approval of the director of the department or its supervisor.
Further, if PMI does not provide a satisfactory plan to cure its
financial deficiencies within 60 days, the department may commence
conservatorship proceedings or take other appropriate action.

"We placed our ratings on PMI's holding company, the PMI Group
Inc., on CreditWatch with negative implications because the
occurrence of a court-appointed receivership could at the
bondholder's option result in approximately $735 million of the
outstanding indebtedness becoming due or payable," said Standard &
Poor's credit analyst Miles Kaschalk. The holding company would
not have sufficient resources to meet its obligations in that
event.


PTM TECHNOLOGIES: Barred From Filing Claim in Parent's Case
-----------------------------------------------------------
Bankruptcy Judge William L. Stocks denied the request of PTM
Technologies, Inc., to file a claim in parent Renegade Holdings,
Inc.'s bankruptcy case after the expiration of the May 25, 2009
deadline for filing claims.  Judge Stocks said PTM made a
conscious and deliberate decision not to timely file a claim.  The
decision was a "calculated and strategic" decision, and does not
constitute excusable neglect under F.R.B.P. Rule 9006.

ABI leased certain equipment from PTM for use in manufacturing
tobacco products.  ABI owed PTM $3,069,809 and RHI owed PTM
$1,774,056.45 for "Insider loan/Svc. Rendered".  Although PTM had
actual knowledge of these cases and the deadline for filing proofs
of claim, no proof of claim was filed by PTM prior to the
expiration of the deadline.

PTM's Motion reflects that not filing a proof of claim was the
result of a conscious and deliberate decision on the part of PTM.
As to the reason for not filing a claim, the Motion states that
since "all Plans contemplated a 100% payment to creditors no
action to pursue the same was being contemplated. . . ."  However,
no proposed plans of reorganization had been filed in the cases or
in the PTM case when the claims deadline expired on May 25, 2009.
Nonetheless, PTM" elected" not to file a proof of claim.

The 100% dividend "contemplated" by PTM has not materialized.
Although a joint plan of reorganization providing for a 100%
dividend subsequently was confirmed in these cases in April 2010,
the confirmation of that plan has been vacated and the dividend
that creditors ultimately will receive in these cases and in the
PTM case is uncertain.  PTM argues that relief should be granted
under Rule 9006 as a result of this change in circumstances.

A copy of Judge Stocks' Aug. 19, 2011 Memorandum Opinion is
available at http://is.gd/msixTjfrom Leagle.com.

                     About foldings

Renegade Holdings and two subsidiaries -- Alternative Brands, Inc.
and Renegade Tobacco Company -- filed for Chapter 11 protection
(Bankr. M.D.N.C. Lead Case No. 09-50140) on Jan. 28, 2009, and
exited bankruptcy on June 1, 2010.  They were put back into
bankruptcy July 19, 2010, when Judge William L. Stocks vacated the
reorganization plan, in part because of a criminal investigation
of owner Calvin Phelps and the companies regarding what
authorities called "unlawful trafficking of cigarettes."

Alternative Brands is a federally licensed manufacturer of tobacco
products consisting primarily of cigarettes and cigars.  Renegade
Tobacco distributes the tobacco products produced by ABI through
wholesalers and retailers in 19 states and for export.  ABI also
is a contract fabricator for private label brands of cigarettes
and cigars which are produced for other licensed tobacco
manufacturers.

The stock of RHI is owned indirectly by Calvin A. Phelps through
his ownership of the stock of Compliant Tobacco, LLC which, in
turn, owns all of the stock of RHI which in turn owns all of the
stock of RTC and ABI.  Mr. Phelps was the chief executive officer
of all three companies. All three of the Debtors' have their
offices and production facilities in Mocksville, North Carolina.

In August 2010, the Bankruptcy Court approved the appointment of
Peter Tourtellot, managing director of turnaround-management
company Anderson Bauman Tourtellot Vos & Co., as Chapter 11
trustee.

Gene Tarr also has been appointed as bankruptcy examiner.

                      About PTM Technologies

PTM Technologies Inc. is a wholly owned subsidiary of Renegade
Holdings, and an affiliate of Alternative Brands, Inc. and
Renegade Tobacco Company, which also are wholly owned subsidiaries
of Renegade Holdings.  The Mocksville, North Carolina-based
company filed for bankruptcy (Bankr. M.D.N.C. Case No. 10-50980)
on May 26, 2010.  Judge William L. Stocks presides over the case.
Charles M. Ivey III, Esq. -- jlh@imgt-law.com -- at Ivey,
McClellan, Gatton, & Talcott, LLP, serves as bankruptcy counsel.
According to its schedules, the Company has $3,953,216 in assets
and $7,199,424 in debts.


PURADYN FILTER: Incurs $451,500 Second Quarter Net Loss
-------------------------------------------------------
Puradyn Filter Technologies Incorporated filed with the U.S.
Securities and Exchange Commission its quarterly report on Form
10-Q reporting a net loss of $451,529 on $499,423 of net sales for
the three months ended June 30, 2011, compared with a net loss of
$436,223 on $761,341 of net sales for the same period during the
prior year.

The Company also reported a net loss of $777,966 on $1.38 million
of net sales for the six months ended June 30, 2011, compared with
a net loss of $705,289 on $1.43 million of net sales for the same
period during the prior year.

Puradyn Filter reported a net loss of $1.57 million on $3.10
million of net sales for the year ended Dec. 31, 2010, compared
with a net loss of $2.07 million on $1.91 million of net sales
during the prior year.

The Company's balance sheet at June 30, 2011, showed $1.31 million
in total assets, $8.48 million in total liabilities and a $7.17
million total stockholders' deficit.

As reported in the TCR on April 13, 2011, Webb and Company, P.A.,
in Boynton Beach, Fla., expressed substantial doubt about
PuraDdn Filter Technologies' ability to continue as a
going concern, following the Company's 2010 financial results.
The independent auditors noted that the Company has suffered
recurring losses from operations, its total liabilities exceed its
total assets, and it has relied on cash inflows from an
institutional investor and current stockholder.

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

                        http://is.gd/MYyA4s

                       About Puradyn Filter

Boynton Beach, Fla.-based Puradyn Filter Technologies Incorporated
(OTC BB: PFTI) -- http://www.puradyn.com/-- designs, manufactures
and markets the puraDYN(R) Oil Filtration System.


QIS KNOXVILLE: Case Summary & 8 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: QIS Knoxville LLC
        321 N. Cedar Bluff Road
        Knoxville, TN 37923

Bankruptcy Case No.: 11-33859

Chapter 11 Petition Date: August 18, 2011

Court: United States Bankruptcy Court
       Eastern District of Tennessee (Knoxville)

Judge: Richard Stair Jr.

Debtor's Counsel: Thomas Lynn Tarpy, Esq.
                  HAGOOD, TARPY & COX PLLC
                  Suite 2100, Riverview Tower
                  900 South Gay Street
                  Knoxville, TN 37902-1537
                  Tel: (865) 525-7313
                  E-mail: ltarpy@htandc.com

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

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

A list of the Company's eight largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/tneb11-33859.pdf

The petition was signed by Jayesh Patel, president and CEO.


RAY ANTHONY: Motion to Prohibit Cash Collateral Use Withdrawn
-------------------------------------------------------------
The Hon. Thomas P. Agresti of the U.S. Bankruptcy Court for the
Western District of Pennsylvania ruled that SG Equipment Finance
USA Corp.'s motion to prohibit Ray Anthony International, LLC's
use of cash collateral is withdrawn.

On Oct. 15, 2010, SGEF, filed a motion to (i) prohibit use of cash
collateral; or (ii) condition use of cash collateral unless
adequate protection is paid; or in the alternative, (iii) relief
from the automatic stay, and (iv) direct the Debtor to return
collateral equipment to the Continental United States.

SGEF's Motion dealt with four pieces of equipment in which it has
a purchase money security interest.

SGEF related that the pending sales have since been consummated
and SGEF wished that its motion be withdrawn.

As reported in the Troubled Company Reporter on July 15, 2011, the
Court confirmed the sale of the property of the Debtor to Red
White & Blue Crane LLC for $9,666,500 under a certain asset
purchase agreement.

Judge Agresti said the purchase price was a full and a fair price
for the property in question.  He noted that closing will occur
within 30 days of the order.

SGEF is represented by:

         BERSTEIN LAW FIRM, P.C.
         Jodi L. Hause, Esq.
         707 Grant Street, Suite 2200 Gulf Tower
         Pittsburgh, PA 15219
         Tel: (412) 456-8102
         Fax: (412) 456-88266
         E-mail: jhause@bernsteinlaw.com

                 About Ray Anthony International

West Mifflin, Pennsylvania-based Ray Anthony International, Inc.,
filed for Chapter 11 bankruptcy protection (Bankr. W.D. Pa. Case
No. 10-26576) on Sept. 15, 2010.  The Debtor estimated assets
and debts at $50 million to $100 million as of the Chapter 11
filing.  Affiliate Ray G. Anthony filed a separate Chapter 11
petition (Bankr. W.D. Pa. Case No. 10-26552) on Sept. 14, 2010


RED DOOR: Voluntary Chapter 11 Case Summary
-------------------------------------------
Debtor: Red Door Lounge, Inc.
        dba Crown Lounge
        P.O. Box 7366
        Great Falls, MT 59403
        Tel: (406) 788-2450

Bankruptcy Case No.: 11-61605

Chapter 11 Petition Date: August 18, 2011

Court: United States Bankruptcy Court
       District of Montana (Butte)

Judge: Ralph B. Kirscher

Debtor's Counsel: Steven M. Johnson, Esq.
                  CHURCH HARRIS JOHNSON & WILLIAMS PC
                  P.O. Box 1645
                  Great Falls, MT 59403
                  Tel: (406) 761-3000
                  E-mail: sjohnson@chjw.com

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

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

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

The petition was signed by John Foster, owner.


RENEGADE HOLDINGS: PTM's Claim Strategy Backfires
-------------------------------------------------
Bankruptcy Judge William L. Stocks denied the request of PTM
Technologies, Inc., to file a claim in parent Renegade Holdings,
Inc.'s bankruptcy case after the expiration of the May 25, 2009
deadline for filing claims.  Judge Stocks said PTM made a
conscious and deliberate decision not to timely file a claim.  The
decision was a "calculated and strategic" decision, and does not
constitute excusable neglect under F.R.B.P. Rule 9006.

ABI leased certain equipment from PTM for use in manufacturing
tobacco products.  ABI owed PTM $3,069,809 and RHI owed PTM
$1,774,056.45 for "Insider loan/Svc. Rendered".  Although PTM had
actual knowledge of these cases and the deadline for filing proofs
of claim, no proof of claim was filed by PTM prior to the
expiration of the deadline.

PTM's Motion reflects that not filing a proof of claim was the
result of a conscious and deliberate decision on the part of PTM.
As to the reason for not filing a claim, the Motion states that
since "all Plans contemplated a 100% payment to creditors no
action to pursue the same was being contemplated. . . ."  However,
no proposed plans of reorganization had been filed in the cases or
in the PTM case when the claims deadline expired on May 25, 2009.
Nonetheless, PTM" elected" not to file a proof of claim.

The 100% dividend "contemplated" by PTM has not materialized.
Although a joint plan of reorganization providing for a 100%
dividend subsequently was confirmed in these cases in April 2010,
the confirmation of that plan has been vacated and the dividend
that creditors ultimately will receive in these cases and in the
PTM case is uncertain.  PTM argues that relief should be granted
under Rule 9006 as a result of this change in circumstances.

A copy of Judge Stocks' Aug. 19, 2011 Memorandum Opinion is
available at http://is.gd/msixTjfrom Leagle.com.

                     About Renegade Holdings

Renegade Holdings and two subsidiaries -- Alternative Brands, Inc.
and Renegade Tobacco Company -- filed for Chapter 11 protection
(Bankr. M.D.N.C. Lead Case No. 09-50140) on Jan. 28, 2009, and
exited bankruptcy on June 1, 2010.  They were put back into
bankruptcy July 19, 2010, when Judge William L. Stocks vacated the
reorganization plan, in part because of a criminal investigation
of owner Calvin Phelps and the companies regarding what
authorities called "unlawful trafficking of cigarettes."

Alternative Brands is a federally licensed manufacturer of tobacco
products consisting primarily of cigarettes and cigars.  Renegade
Tobacco distributes the tobacco products produced by ABI through
wholesalers and retailers in 19 states and for export.  ABI also
is a contract fabricator for private label brands of cigarettes
and cigars which are produced for other licensed tobacco
manufacturers.

The stock of RHI is owned indirectly by Calvin A. Phelps through
his ownership of the stock of Compliant Tobacco, LLC which, in
turn, owns all of the stock of RHI which in turn owns all of the
stock of RTC and ABI.  Mr. Phelps was the chief executive officer
of all three companies. All three of the Debtors' have their
offices and production facilities in Mocksville, North Carolina.

In August 2010, the Bankruptcy Court approved the appointment of
Peter Tourtellot, managing director of turnaround-management
company Anderson Bauman Tourtellot Vos & Co., as Chapter 11
trustee.

Gene Tarr also has been appointed as bankruptcy examiner.

                      About PTM Technologies

PTM Technologies Inc. is a wholly owned subsidiary of Renegade
Holdings, and an affiliate of Alternative Brands, Inc. and
Renegade Tobacco Company, which also are wholly owned subsidiaries
of Renegade Holdings.  The Mocksville, North Carolina-based
company filed for bankruptcy (Bankr. M.D.N.C. Case No. 10-50980)
on May 26, 2010.  Judge William L. Stocks presides over the case.
Charles M. Ivey III, Esq. -- jlh@imgt-law.com -- at Ivey,
McClellan, Gatton, & Talcott, LLP, serves as bankruptcy counsel.
According to its schedules, the Company has $3,953,216 in assets
and $7,199,424 in debts.


RIVER ROCK: Moody's Lowers CFR to Caa2; Further Downgrade Likely
----------------------------------------------------------------
Moody's Investors Service downgraded River Rock Entertainment
Authority's Corporate Family Rating (CFR) and Probability of
Default Rating (PDR) to Caa2 from Caa1, and the rating on the $200
million senior notes due 2011 to Caa2 from Caa1. All ratings
remain under review for further possible downgrade.

Ratings lowered and kept on review for further possible downgrade:

Corporate Family Rating -- to Caa2 from Caa1

Probability of Default Rating -- to Caa2 from Caa1

$200 million senior notes due November 2011 -- to Caa2 (LGD 4,
50%) from Caa1(LGD 4, 50%)

RATINGS RATIONALE

The downgrade of CFR to Caa2 reflects continued delays in
completing the refinancing of RREA's $200 million senior notes due
November 1, 2011, which has heighted the risk of a near-term
payment default. Despite recent resolution on some critical issues
that had in part caused delays in the refinancing process and the
Authority's relatively stable operating performance, progress has
been much slower than anticipated. At this juncture, Moody's
believes the probability of further delays in refinancing beyond
the debt maturity date has increased, considering the political
elements that are part of the tribe's decision making process
combined with other unresolved complicating factors including the
refinancing of material amount of indebtedness issued by the
Tribe, the owners of the River Rock casino.

The review for possible downgrade suggests that the rating could
be lowered further if the Authority is not able to refinance the
notes on a timely basis. There is no upward rating pressure on the
rating given the review.

River Rock is an unincorporated governmental instrumentality of
the Dry Creek Rancheria Band of Pomo Indians, a federally
recognized Indian tribe with 947 enrolled members and an
approximately 75-acre reservation in Sonoma County, California.
River Rock was formed in 2003 to own and operate the River Rock
Casino, which reported approximately $122 million in net revenues
for the last twelve-month period ended June 30, 2011.

The principal methodology used in rating River Rock Entertainment
Authority was the Global Gaming Industry Methodology published in
December 2009. Other methodologies used include Loss Given Default
for Speculative-Grade Non-Financial Companies in the U.S., Canada
and EMEA published in June 2009 (and/or) the Government-Related
Issuers methodology published in July 2010.


ROUND TABLE: Court OKs Boylan Brown as ESOP's Co-Counsel
--------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of California
has approved the application of First Bankers Trust Services,
Inc., as Trustee for the Round Table Pizza, Inc., Employee Stock
Option Plan (ESOP), to employ as co-counsel:

     Robert F. Schatz, Esq.
     Devin Lawton Palmer, Esq.
     BOYLAN, BROWN, CODE, VIGDOR & WILSON, LLP
     2400 Chase Square
     Rochester, New York 14604
     Phone: (585) 232-5300
     Fax: (585) 238-9012
     E-mail: dpalmer@boylanbrown.com

First Bankers has selected Boylan Brown because of its expertise
in matters of ESOP and bankruptcy issues and proceedings, and
believes that Boylan Brown is well qualified to represent them in
this case.  Those services requested of Boylan Brown include:

    (a) advise First Bankers concerning their rights and
        responsibilities under the Bankruptcy Code and as ESOP
        Trustee;

    (b) provide First Bankers with continued representation in
        all negotiations and proceedings involving creditors, the
        creditors committee, secured creditors, the department of
        labor and other parties;

    (c) advice First Bankers on all matters relating to this
        bankruptcy case, such as motions, the disclosure statement
        and the plan of reorganization;

    (d) assisting First Bankers in filing its proof of claims; and

    (e) performing all other legal services for First Bankers as
        ESOP Trustee which may be necessary.

Subject to approval of the Court, services will be billed at
Boylan Brown's blended hourly rate of $400 per attorney and $170
per law clerks, paralegals and legal assistants.  First Bankers
has also agreed that Boylan Brown will be reimbursed for its
expenses incurred in connection with this case.

To the best of First Bankers' knowledge, Boylan Brown is
disinterested and has no connection with First Bankers, the
Debtors, their creditors, any other party-in-interest, their
respective attorneys and accountants, the United States Trustee,
or any person employed in the Office of the United States Trustee.
To the best of First Bankers' knowledge, Boylan Brown holds no
interest adverse to the estate.

                      About Round Table Pizza

Based in Concord, California, Round Table Pizza, Inc. --
http://www.roundtablepizza.com/-- is a private, 100% employee-
owned company with corporate offices based in Concord, California.
Round Table is largely owned by an Employee Stock Ownership Plan,
with 3,190 participants.  The ESOP is designed and intended to
provide a source of retirement income to Round Table's loyal,
long-term employees.

Round Table filed for Chapter 11 bankruptcy protection (Bankr.
N.D. Calif. Case No. 11-41431) on Feb. 9, 2011.  Judge Roger L.
Efremsky presides over the case.  Scott H. McNutt, Esq., at McNutt
Law Group serves as the Debtor's bankruptcy counsel.  The Debtors
also tapped Frank, Rimerman & Co. as an auditor and accountant.
Round Table disclosed $1,066,524 in assets and $35,625,649 in
liabilities as of the Chapter 11 filing.

The case is jointly administered with affiliates -- The Round
Table Franchise Corporation, Round Table Development Company, and
Round Table Pizza Nevada LLC.

The U.S. Trustee formed a three-member official committee of
unsecured creditors.  The committee has tapped Brownstein Hyatt
Farber Schreck, LLP as counsel.  The Debtor also tapped First
Bankers Trust Services, Inc. as discretionary, independent, and
institutional ESOP Trustee, and Johanson Berenson LLP as an ESOP
counsel.

First Bankers Trust Services, Inc., was appointed as institutional
trustee of the Round Table Restated Employee Stock Ownership Plan
and Trust (ESOP).  Johanson Berenson LLP serves as an ESOP
counsel.


ROUND TABLE: Franchisees Say Exit Plan is 'Dead On Arrival'
-----------------------------------------------------------
Dow Jones' DBR Small Cap reports that franchisees say Round Table
Pizza Inc.'s plan to exit bankruptcy is "dead on arrival" as long
as the pizza chain fails to remedy such alleged wrongdoing as its
acceptance of vendor kickbacks and mishandled funds.

                     About Round Table Pizza

Based in Concord, California, Round Table Pizza, Inc. --
http://www.roundtablepizza.com/-- is a private, 100% employee-
owned company with corporate offices based in Concord, California.
Round Table is largely owned by an Employee Stock Ownership Plan,
with 3,190 participants.  The ESOP is designed and intended to
provide a source of retirement income to Round Table's loyal,
long-term employees.

Round Table filed for Chapter 11 bankruptcy protection (Bankr.
N.D. Calif. Case No. 11-41431) on Feb. 9, 2011.  Judge Roger L.
Efremsky presides over the case.  Scott H. McNutt, Esq., at McNutt
Law Group serves as the Debtor's bankruptcy counsel.  The Debtors
also tapped Frank, Rimerman & Co. as an auditor and accountant.
Round Table disclosed $1,066,524 in assets and $35,625,649 in
liabilities as of the Chapter 11 filing.

The case is jointly administered with affiliates -- The Round
Table Franchise Corporation, Round Table Development Company, and
Round Table Pizza Nevada LLC.

The U.S. Trustee formed a three-member official committee of
unsecured creditors.  The committee has tapped Brownstein Hyatt
Farber Schreck, LLP as counsel.  The Debtor also tapped First
Bankers Trust Services, Inc. as discretionary, independent, and
institutional ESOP Trustee, and Johanson Berenson LLP as an ESOP
counsel.

First Bankers Trust Services, Inc., was appointed as institutional
trustee of the Round Table Restated Employee Stock Ownership Plan
and Trust (ESOP).  Johanson Berenson LLP serves as an ESOP
counsel.


RUSS COMPANIES: $52 Million in Inventory to Be Liquidated
---------------------------------------------------------
Michael Bathon at Bloomberg News reports that a joint venture of
SB Capital Group LLC, Worldwide Merchandise Resources Corporation
and Just Inventory Solutions LLC was the winning bidder to
liquidate the remaining inventory of iconic gift-maker, The Russ
Companies Inc.  The joint venture said the inventory was worth
more than $52 million at suggested retail prices.

"During its almost 50 years in business, The Russ Companies, Inc.,
has been a major force in the gift business.  With its widespread
availability and its unsurpassed reputation for quality, the Russ
Berrie brand has set the industry standard," the joint venture
said in a statement.

The Russ Companies based in Wayne, New Jersey, makes gifts such as
teddy bears and other plush toys, including licensed products such
as Raggedy Ann & Andy, Curious George, Scooby Doo, Barbie Pets,
Corduroy and The Simpsons.  The company also makes memorial and
seasonal gifts.

The Company sought Chapter 7 bankruptcy protection (Bankr. D. N.J.
Case No. 11-22471) on April 21, 2011, in Newark, New Jersey,
according to court documents.  The Company estimated debt of as
much as $50 million.


SAND HILL: Court Confirms Chapter 11 Plan of Reorganization
-----------------------------------------------------------
On Aug. 10, 2011, the U.S. Bankruptcy Court for the Eastern
District of Texas entered an order confirming Sand Hill
Foundation, LLC, Sand Hill Panola SWD#2 LLC and Sand Hill Panola
SWD#5 LLC's Second Amended Consolidated Chapter 11 Plan of
Reorganization dated July 28, 2011.

As reported in the TCR on June 9, 2011, the Plan generally
provides for the distribution of sales proceeds for the payment of
all Allowed Claims, including provision for the pursuit of any
unresolved causes of action and objecting to Disputed Claims.  To
accomplish this, the Plan generally provides for the following to
occur prior to the Effective Date:

    (i) assumption of the Assigned Contracts;

   (ii) the filing of objections to Disputed Claims and otherwise
        continue the reorganization process, in each case pursuant
        to the oversight of the Bankruptcy Court;

  (iii) the creation of reasonable reserves for Disputed Claims,
        and the making of distributions to holders of Allowed
        Claims as provided in the Plan; and (iv) the rejection of
        all remaining Executory Contracts and unexpired Leases of
        the Debtors.

The Plan further provides for the Reorganized Debtors to continue
business without the Bankruptcy Court's supervision.

Pursuant to the terms of the Plan, Sand Hill Panola SWD #2 LLC and
Sand Hill Panola SWD #5 LLC will merge with Sand Hill Foundation,
LLC and Sand Hill Foundation, LLC, the Reorganized Debtor, will
continue in business.

A copy of the Debtors' Second Amended Consolidated Chapter 11 Plan
of Reorganization, as modified, is available at:

    http://bankrupt.com/misc/sandhill.orderconfirmingplan.pdf

                         About Sand Hill

Sand Hill Foundation, LLC is an oilfield service and construction
company.  Sand Hill Foundation employs 145 people and owns assets
in the approximate amount of $10,000,000 including numerous
vehicles and equipment pieces of equipment.

Sand Hill Panola SWD #2 LLC owns a saltwater disposal well in
Panola County, Texas scheduled at over $2,500,000.  Sand Hill
Panola SWD #5 LLC also owns a saltwater disposal well in Panola
County, Texas scheduled at over $1,500,000.

The Company filed for Chapter 11 bankruptcy protection (Bankr.
E.D. Tex. Case No. 10-90209) on May 25, 2010.  Jeffrey Wells
Oppel, Esq., at Oppel, Goldberg & Saenz P.L.L.C., assists the
Debtor in its restructuring effort.  The Company estimated its
assets and debts at $10 million to $50 million.

The U.S. Trustee has formed an official committee of unsecured
creditors in the Chapter 11 case.


SCOTT OLSON: Case Summary & 3 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Scott Olson Digging, Inc.
        P.O. Box 1402
        Huron, SD 57350

Bankruptcy Case No.: 11-40680

Chapter 11 Petition Date: August 19, 2011

Court: United States Bankruptcy Court
       District of South Dakota (Southern (Sioux Falls))

Judge: Charles L. Nail, Jr.

Debtor's Counsel: Patrick T. Dougherty, Esq.
                  DOUGHERTY & DOUGHERTY, LLP
                  P.O. Box 2376
                  Sioux Falls, SD 57101-2376
                  Tel: (605) 335-8586
                  E-mail: pat@ptdlawfirm.com

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

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

A list of the Company's three largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/sdb11-40680.pdf

The petition was signed by Scott Olson, director-president.


SEAHAWK DRILLING: Parent Objects to Amended Ch. 11 Plan
-------------------------------------------------------
BankruptcyData.com reports that Seahawk Drilling's former parent
company, Pride International, filed with the U.S. Bankruptcy Court
an objection to the Debtors' Amended Chapter 11 Plan.

According to Pride, "In addition to violating the absolute
priority rule by providing for equity to receive a distribution
before all creditors are paid in full, the Plan violates the
Bankruptcy Code's requirements that a plan provide similar
treatment to similarly situated creditors and not unfairly
discriminate among creditor classes. The Plan improperly treats
holders of disputed claims differently than holders of allowed
claims."

Pride requested the Plan be amended to prevent equity from
receiving a distribution until all allowed claims are first paid
in full.

The Court has scheduled an Aug. 30, 2011, confirmation hearing.

                       About Seahawk Drilling

Houston, Texas-based Seahawk Drilling, Inc., engages in a jackup
rig business in the United States, Gulf of Mexico, and offshore
Mexico.  It offers rigs and drilling crews on a day rate
contractual basis.

The Company and several affiliates filed for Chapter 11 bankruptcy
protection (Bankr. S.D. Tex. Lead Case No. 11-20089) on Feb. 11,
2011.  Berry D. Spears, Esq., and Jonathan C. Bolton, Esq., at
Fullbright & Jaworkski L.L.P., in Houston, serve as the Debtors'
bankruptcy counsel.  Shelby A. Jordan, Esq., and Nathaniel Peter
Holzer, Esq. at Jordan, Hyden, Womble, Culbreth & Holzer, P.C., in
Corpus Christi, Texas, serve as the Debtors' co-counsel.  Alvarez
and Marsal North America, LLC, is the Debtors' restructuring
advisor.  Simmons & Company International is the Debtors'
transaction advisor.  Kurtzman Carson Consultants LLC is the
Debtors' claims agent.  Judy A. Robbins, U.S. Trustee for
Region 7, appointed three creditors to serve on an Official
Committee of Unsecured Creditors of Seahawk Drilling Inc. and its
debtor-affiliates.  Heller, Draper, Hayden, Patrick & Horn,
L.L.C., represents the creditors committee.

In its amended schedules, Seahawk Drilling disclosed $208,190,199
in assets and $438,458,460 in liabilities as of the petition date.

Seahawk filed for Chapter 11 protection to complete the sale of
all assets to Hercules Offshore, Inc.  The bankruptcy court
approved an Asset Purchase Agreement between Hercules Offshore and
its wholly owned subsidiary, SD Drilling LLC, and Seahawk
Drilling, pursuant to which Seahawk agreed to sell to Hercules,
and Hercules agreed to acquire from Seahawk, all 20 of Sellers'
jackup rigs and related assets, accounts receivable and cash and
certain liabilities of Sellers in a transaction pursuant to 11
U.S.C. Sec. 363.  The deal was valued at about $176 million when
it received court approval.  The deal closed on April 27, 2011.


SHAMOCK-SHAMROCK: Taps George Gingo as Litigation Attorney
----------------------------------------------------------
Shamrock-Shamrock Inc. asks the U.S. Bankruptcy Court for the
Middle District of Florida for permission to employ George Gingo,
Esq., to represent the Debtor in certain claims litigation
proceedings.

The Debtor tells the Court that it is in need of an attorney
versed in bankruptcy claims litigation law to represent it before
the Court relating to claims by Deutsche Bank/AHMSI for the
properties located at 371 Atlantic Ave, Ormond Beach, Flordia, and
3110 John Anderson, Ormond Beach, Florida.  The claims would be
treated as unsecured creditors in the Chapter 11 Plan of the
Debtor due to fraud involved in the execution of certain
mortgage/foreclosure documents.

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

Daytona Beach, Florida-based Shamrock-Shamrock Inc. owns 70
parcels of Florida real property.  It filed for Chapter 11
protection (Bankr. M.D. Fla. Case No. 11-07061) on May 10, 2011.
Judge Arthur B. Briskman presides over the case.  The Law Offices
of Mickler & Mickler serves as bankruptcy counsel.


SHENGDATECH INC: Court Enters Temporary Restraining Order
---------------------------------------------------------
ShengdaTech, Inc. disclosed that the U.S. Bankruptcy Court for the
District of Nevada granted the Company's motion for a temporary
restraining order ("TRO") enjoining the Company's shareholders and
the members of the Company's Board of Directors, from taking any
action, including the commencement of any court or administrative
proceeding that seeks to change or has the purpose or effect of
changing the composition of the Company's Special Committee or the
appointment of the Chief Restructuring Officer ("CRO"), Mr.
Michael Kang, from taking any action including the commencement of
any court or administrative proceeding that seeks to hinder,
obstruct, impede or otherwise interfere with the Special
Committee's and the CRO's previously announced investigation(s)
and prosecution of the Company's Chapter 11 case, and from taking
any action that seeks to appoint or has the purpose or effect of
appointing Mr. Gongbo Wang, or anyone else, to the Company's Board
of Directors.  The TRO is in addition to the automatic stay
imposed by Section 362(a) of the U.S. Bankruptcy Code.

The TRO shall remain in place until conclusion of the hearing on
the Company's request for a preliminary injunction, which hearing
is currently scheduled for September 2, 2011.

Additionally, on August 22, 2011, the SEC served the Company with
a subpoena for documents in connection with a fact-finding
investigation by the SEC with regard to the Company.  The Company
is committed to cooperating with the SEC.  It is not possible at
this time to predict the outcome of the SEC investigation,
including whether or when any proceedings might be initiated, when
these matters may be resolved or what, if any, penalties or other
remedies may be imposed. The SEC has informed the Company that the
investigation should not be construed as an indication that any
violations of law have occurred.

                         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.


SHENGDATECH INC: Taps Michael Kang as Chief Restructuring Officer
-----------------------------------------------------------------
BankruptcyData.com reports that ShengdaTech filed with the U.S.
Bankruptcy Court a motion to retain Michael Kang of Alvarez &
Marsal North America (Contact: Michael Kang) as chief
restructuring officer for an hourly rate of $675 for Mr. Kang, and
the following hourly rates for other A&M employees: managing
director at $650 to $850, director at $450 to $650,
associate/consultant at $350 to $450, and analyst at $250 to $350.

                        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.


SILVER FOX: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: Silver Fox, LLC
        2940 U.S. Highway 60 East
        Republic, MO 65738

Bankruptcy Case No.: 11-61796

Chapter 11 Petition Date: August 19, 2011

Court: United States Bankruptcy Court
       Western District of Missouri (Springfield)

Judge: Arthur B. Federman

Debtor's Counsel: David E. Schroeder, Esq.
                  DAVID SCHROEDER LAW OFFICES, PC
                  1524 East Primrose St., Suite A
                  Springfield, MO 65804-7915
                  Tel: (417) 890-1000
                  Fax: (417) 886-8563
                  E-mail: bk1@dschroederlaw.com

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

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

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

The petition was signed by Terry McKee, managing member.


SOUTH EDGE: Meritage Homes Faces $13-Mil. Suit Over Project Loan
----------------------------------------------------------------
Dan Rivoli at Bankruptcy Law360 reports that JPMorgan Chase Bank
NA on Tuesday hit Meritage Homes Corp. with a $13 million lawsuit,
claiming it is liable under an agreement to repay its share of a
loan given to a residential community developer that went
bankrupt.

Law360 relates that the suit, filed in Nevada federal court,
targets Meritage and its subsidiary Meritage Homes of Nevada Inc.
- one of eight members of South Edge LLC, a now-bankrupt company
that developed a $1 billion residential community in Las Vegas'
suburbs.

                         About South Edge

Las Vegas, Nevada-based South Edge LLC owns the Inspirada project,
an uncompleted 2,000-acre residential development in Henderson,
Nevada, about 16 miles (26 kilometers) southeast of Las Vegas.
The eight owners of the project include an affiliate of KB Home, a
49% owner.  Other owners are Coleman Toll LP with 10.5%, Pardee
Homes Nevada Inc. with 4.9%, Meritage Homes with 3.5%, and Beazer
Homes USA Inc. with 2.6%.

JPMorgan Chase Bank, N.A., Credit Agricole Corporate and
Investment Bank, and Wells Fargo Bank, N.A., filed an involuntary
chapter 11 bankruptcy petition (Bankr. D. Nev. Case No. 10-32968)
on Dec. 9, 2010, against South Edge, LLC.  The petitioning
creditors are part of a lender group that provided a $595 million
credit.  New York-based JPMorgan serves as lender and agent for
the group.  South Edge filed motions to dismiss the involuntary
petition.

The Court conducted a contested trial on Jan. 24 and 25, 2011, and
Feb. 2 and 3, 2011.  On Feb. 3, 2011, the Court entered an order
for relief under Chapter 11 of the Bankruptcy Code against the
Debtor and issued an order directing the appointment of a chapter
11 trustee.  The United States Trustee appointed Cynthia Nelson to
serve as Chapter 11 trustee on Feb. 20, 2011.  The Court approved
the appointment three days later.

South Edge is represented by lawyers at Klee, Tuchin, Bogdanoff
and Stern LLP, and The Schwartz Law Firm, Inc., as legal counsel.
The Chapter 11 trustee also tapped Schwartzer & McPherson Law Firm
as local counsel.

Petitioning creditors JPMorgan Chase Bank, N.A., and Wells Fargo
Bank, N.A., are represented by lawyers at Morrison and Foerster
LLP; and Lewis and Roca LLP.  Credit Agricole is represented by
lawyers at Haynes and Boone LLP, and Jolley Urga Wirth Woodbury &
Standish.


SPECTRAWATT INC: Plans Bankruptcy Auction of Assets on Sept. 28
---------------------------------------------------------------
Michael Bathon at Bloomberg News reports that SpectraWatt Inc., a
solar cell manufacturer and former Intel Corp. unit, said it wants
to sell the assets quickly and will seek bankruptcy court approval
to hold the auction on Sept. 28.  SpectraWatt said it is crucial
that the sale proceed immediately because companies with assets
similar to their own are also financial distressed, which would
diminish the value of its assets.

SpectraWatt has decided to sell substantially all its assets and
will seek court approval of a bankruptcy auction.  Although
SpectraWatt has received interest from foreign companies, it
hasn't secured a lead bidder for the auction because the potential
foreign buyers aren't familiarity with U.S. bankruptcy sales,
according to the report.

"Within the next 3-6 months, there is a high likelihood that a
significant amount of used solar cell manufacturing equipment and
related assets will flood the market and drive down the value of
the Debtor's assets" SpectraWatt's Chief Restructuring Officer and
Chief Executive, Brad Walker, said in court papers.

                        Road to Bankruptcy

According to the report, SpectraWatt said it was forced to seek
court protection due to competition from Chinese rivals,
deterioration in the solar cell industry and disputes with
vendors.

"United States based manufacturers are under a great deal of
stress because of the emergence of manufacturers in China, who
receive considerable government and financial support," Mr.
Walker, said.  "This support, coupled with China's inexpensive
production costs, have created a competitive advantage for Chinese
manufacturers and allowed them to become price leaders within the
industry."

Evergreen Solar Inc., a rival U.S. solar panel maker, sought
bankruptcy protection as well last week, owing creditors about
$485.6 million.  Evergreen's convertible noteholders have agreed
to buy the company at auction offering to forgive debt owed to
them instead of cash.

                         About SpectraWatt

Based in Hopewell Junction, New York, SpectraWatt Inc. was spun
off from Intel in June 2008 and raised $50 million through a sale
of preferred stock to its former parent and other investors
including Goldman Sachs Group Inc.'s Cogentrix Energy LLC, PCG
Clean Energy and Berlin-based solar panel maker Solon SE.  The
Company has also issued about $36.7 million in senior secured
convertible notes.

The Company has a manufacturing facility in Hopewell Junction
designed to generate over 200 megawatts of production per year.
The plant began operations in January 2010 with an initial
capacity of only 30 megawatts per year.

The Company began winding down its affairs late last year after
encountering setbacks and shut down the lone manufacturing
facility in March, and fired all its workers.

SpectraWatt filed a Chapter 11 petition (Bankr. S.D.N.Y. Case No.
11-37366) on Aug. 19, 2011, in Poughkeepsie, New York.  Mark W.
Wege, Esq., at King & Spalding LLP, serves as counsel to the
Debtor.

SpectraWatt estimated as much as $50 million in both debt and
assets as of the Chapter 11 filing.


SUNVALLEY SOLAR: Reports $208,610 Net Income in Second Quarter
--------------------------------------------------------------
Sunvalley Solar, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q reporting net income
of $208,610 on $1.94 million of revenue for the three months ended
June 30, 2011, compared with a net loss of $92,870 on $1.38
million of revenue for the same period a year ago.

The Company also reported net income of $6,106 on $2.73 million of
revenue for the six months ended June 30, 2011, compared with a
net loss of $261,041 on $2.07 million of revenue for the same
period during the prior year.

The Company's balance sheet at June 30, 2011, showed $3.88 million
in total assets, $3.84 million in total liabilities and $36,619
total stockholders' equity.

As reported in the TCR on April 8, 2011, Sadler, Gibb and
Associates, LLC, in Salt Lake City, Utah, expressed substantial
doubt about Sunvalley Solar's ability to continue as a going
concern, following the Company's 2010 results.  The independent
auditors noted that the Company had losses from operations of
$375,839 and accumulated deficit of $958,924.

According to the Company, the success of its business plan during
the next 12 months and beyond will be contingent upon generating
sufficient revenue to cover the Company's costs of operations /or
upon obtaining additional financing.

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

                        http://is.gd/1n7Ul9

                       About Sunvalley Solar

Sunvalley Solar, Inc., is a California-based solar power
technology and system integration company.  Since the inception of
its business in 2007, the company has focused on developing its
expertise and proprietary technology to install residential,
commercial and governmental solar power systems.


SWORDFISH FINANCIAL: Incurs $235,500 Net Loss in Second Quarter
---------------------------------------------------------------
Swordfish Financial, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q reporting a
net loss of $235,520 on $43,750 of interest income for the three
months ended June 30, 2011, compared with a net loss of $189,848
on $43,750 of interest income for the same period a year ago.

The Company also reported a net loss of $722,724 on $87,500 of
interest income for the six months ended June 30, 2011, compared
with a net loss of $466,731 on $87,500 of interest income for the
same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $3.84 million
in total assets, $5.71 million in total liabilities and a $1.86
million total stockholders' deficit.

The Company reported a net loss of $2.69 million on $0 of net
sales for the year ended Dec. 31, 2010, compared with a net loss
of $1.94 million on $0 of net sales during the prior year.

As reported by the TCR on April 25, 2011, Patrick Rodgers, CPA,
PA, in Altamonte Springs, Florida, expressed substantial doubt
about the Company's ability to continue as a going concern.  The
independent auditors noted that the company has suffered recurring
losses from operations and negative cash flows from operations the
past three years.

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

                        http://is.gd/rKV0Gw

                     About Swordfish Financial

Rockwall, Tex.-based Swordfish Financial, Inc., formerly Nature
Vision, Inc., designed, manufactured and marketed outdoor
recreation products primarily for the sport fishing and hunting
markets.  Based on the limited assets, product lines and resources
remaining after the M&I Business Credit LLC liquidation, Swordfish
Financial, Inc. has decided that there is not enough remaining of
the Nature Vision operations to continue as an outdoor
recreations products company and will concentrate on the business
on being an asset recovery company and using the financial
resources recovered to retire the Company's debts and invest in
other businesses domestically and internationally.


TEAM NATION: Posts $861,900 Net Income in Second Quarter
--------------------------------------------------------
Team Nation Holdings Corporation filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q
reporting net income of $861,916 on $306,066 of total revenue for
the three months ended June 30, 2011, compared with net income of
$75,287 on $394,680 of total revenue for the same period a year
ago.

The Company also reported net income of $739,083 on $702,226 of
total revenue for the six months ended June 30, 2011, compared
with net income of $103,361 on $763,304 of total revenue for the
same period a year ago.

The Company's balance sheet at June 30, 2011, showed $3.19 million
in total assets, $5.37 million in total liabilities and a $2.18
million total shareholders' deficit.

As reported by the TCR on April 13, 2011, Kelly & Company, in
Costa Mesa, Calif., said in its report that the Company's
significant debt servicing requirements, its ongoing operating
losses and negative cash flows along with the depressed value of
its common stock gives raise to substantial doubt about the
Company's ability to continue as a going concern.  The Company
has sustained recurring losses and negative cash flows from
operations, at Dec. 31, 2010 it had negative working capital of
$4.2 million, total liabilities of $6.9 million, and a
stockholders' deficit of $3.9 million.  The Company's only
significant source of revenue, and its sole customer, is a related
party.  The Company expects that it will need to raise substantial
additional capital to accomplish its business plan over the next
several years and plans to generate the additional cash needed
through the sale of its common stock that currently has a
depressed value.  The Company's most significant asset is a group
of eight non-current notes receivable - related party issued by
the Company's directors, amounting to $2.2 million at Dec. 31,
2010 (representing 73% of total assets).

The Company was not able to review and complete its Quarterly
Report on Form 10-Q without incurring unreasonable effort and
expense in connection with accurately preparing and presenting all
necessary disclosures.  Thus, the Company was be unable to file
the periodic report in a timely manner.

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

                        http://is.gd/iWkFgR

                         About Team Nation

Newport Beach, Calif.-based Team Nation Holdings Corporation is a
management and services company specializing in management
solutions for title companies and providing title production
services.

The Company reported net income of $553,157 on $2.64 million of
revenue for the year ended Dec. 31, 2010, compared with a net loss
of $3.62 million on $2.02 million of revenue during the prior
year.


TELECONNECT INC: Incurs $948,000 Net Loss in June 30 Quarter
------------------------------------------------------------
Teleconnect Inc. filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q reporting a net loss
of $948,319 on $16,430 of sales for the three months ended
June 30, 2011, compared with a net loss of $183,388 on $258 of
sales for the same period during the prior year.

The Company also reported a net loss of $1.72 million on $36,344
of sales for the nine months ended June 30, 2011, compared with
net income of $2.34 million on $234,768 of sales for the same
period during the prior year.

The Company's balance sheet at June 30, 2011, showed $9.42 million
in total assets, $11.42 million in total liabilities, all current,
and a $1.99 million total stockholders' deficit.

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

                        http://is.gd/6Ce7nJ

                       About Teleconnect Inc.

Based in Breda, in The Netherlands, Teleconnect Inc. (OTC BB:
TLCO) Teleconnect Inc. (initially named Technology Systems
International Inc.) was incorporated under the laws of the State
of Florida on November 23, 1998.

Serving as a telecommunications service provider in Spain for
almost 9 years, the Company never fully reached expectations and
decided late in 2008 to change its course of business.  In
November 2009, 90% of the Company's telecommunication business was
sold to a Spanish group of investors, and on October 15, 2010, the
Company completed the acquisition of Hollandsche Exploitatie
Maatschappij BV (HEM), a Dutch entity established in 2007.  HEM's
core business involves the age validation of consumers when
purchasing products which cannot be sold to minors, such as
alcohol or tobacco.  The Company regards this age validation
business as its new strategic direction.  The Dutch companies
acquired in 2007 (Giga Matrix, The Netherlands, 49% and Photowizz,
The Netherlands, 100%) are considered to function complementary to
this new service offering.

Through the purchase of HEM and its ownership in Photowizz and
Giga Matrix the Company now controls all four pillars under its
business model: the manufacturing and leasing of electronic age
validation equipment, the performance of age validation
transactions remotely, the performance of market surveys and the
broadcasting of in-store commercial messages using the age
validation equipment in between age checks.

Coulter & Justus, P.C., in Knoxville, Tenn., after auditing the
Company's results for fiscal year ended Sept. 30, 2010, expressed
substantial doubt about the Company's ability to continue as a
going concern. The independent auditors noted that the Company has
suffered recurring losses from operations and has a net capital
deficiency in addition to a working capital deficiency.

The Company reported net income of US$1,972,838 on US$254,446 of
revenue for fiscal 2010, compared with a net loss of US$1,828,443
on US$361,989 of revenue for fiscal 2009.


TELESERVICES GROUP: Judge Expresses Frustration Over Stern Ruling
-----------------------------------------------------------------
Bankruptcy Judge Jeffrey R. Hughes is the latest to reversed a
prior decision in Teleservices Group, Inc.'s bankruptcy in view of
Stern v. Marshall.  His 16-page Opinion dated Aug. 17, 2011,
points out how the Supreme Court ruling has caused confusion over
a bankruptcy judge's ability to enter a final judgment.

"Prior to Stern, I did have a standard -- 28 U.S.C. Sec. 157(b)(2)
-- to serve as my guide.  But now I am told that that standard is
unreliable when tested against the Constitution itself," Judge
Hughes said.

According to Judge Hughes, Stern v. Marshall reveals "how
misplaced my confidence has been," and that the proceedings in
Stern "rivaled Dickens' infamous Jarndyce and Jarndyce in both
complexity and endurance."

"For over twenty-five years, my colleagues and I have operated
with the understanding that we were properly constituted judges
capable of rendering final judgments in many, but not all, matters
arising in connection with a bankruptcy proceeding.  That
understanding derives from 28 U.S.C. Sec. 157 and its
identification of so-called 'core proceedings,'" explained Judge
Hughes.

Under this paradigm, bankruptcy judges are enabled to enter final
orders or judgments concerning matters that are typically
associated with the administration of a bankruptcy proceeding.
However, bankruptcy judges do not have that ability when the
matter arises outside of this core.  For example, a trustee's
effort to collect an account receivable from a debtor's customer
is considered non-core.  Section 157 itself establishes this
distinction by providing a long list of matters that would fall
within the parameters of a core proceeding. Some seem obvious --
e.g., objections to discharge, confirmations of plans, and orders
to turnover property of the estate. Others are intentionally vague
but still seem to fit.  For instance, any matter "concerning the
administration of the estate" is a core proceeding.  28 U.S.C.
Sec. 157(b)(2)(A). Moreover, the list provided is not exclusive.
"Core proceedings include, but are not limited to . . . ." 28
U.S.C. Sec. 157(b)(2).

In the lawsuit styled, Marcia R. Meoli, Trustee, v. The Huntington
National Bank, Adv. Pro. No. 07-80037 (Bankr. W.D. Mich.),
Huntington filed a motion to amend Judge Hughes' April 28, 2009
pretrial order.  The requested amendment would eliminate the
order's designation of the adversary proceeding as a matter in
which the Bankruptcy Court can enter a final determination subject
only to ordinary appellate review. Huntington contends that the
Bankruptcy Court lack the constitutional authority to enter what
could be a multi-million dollar judgment against it arising from
fraudulent transfers.  Judge Hughes agrees he does not have that
authority in light of Stern.

"My frustration with Stern is that it offers virtually no insight
as to how to recalibrate the core/non-core dichotomy so that I can
again proceed with at least some assurance that I will not be
making the same constitutional blunder with respect to some other
aspect of Authority Section 157(b)(2)," Judge Hughes said.  "Stern
certainly reaffirms that only an Article III judge can enter a
judgment associated with the estate's recovery of contract and
tort claims designed to augment the estate.  Stern also emphasizes
that the guaranty of such oversight cannot be avoided by making
the recovery part of the claims allowance process."

Judge Hughes said Stern is silent as to how much further this
constitutional protection extends into the bankruptcy process.
"For example, Authority Section 157(b)(2) also gives me the
statutory authority to enter final orders regarding objections to
claims, the estate's procurement of credit, and the turnover of
the estate's property," Judge Hughes explained. "I would assume
that a few of these activities remain within the authority that I
am able to exercise independent of an Article III judge. However,
Stern's reticence leaves me wondering whether my assumption is a
good one.  At most, I am told that a judicially recognized 'public
rights' exception might permit a non-Article III judge to act on
his own with respect to some aspects of the bankruptcy process.
However, as Stern itself concedes, the Court has yet to give clear
definition to this exception as a general proposition, let alone
as to how it might apply in the bankruptcy arena."

Judge Hughes also noted that Congress, through 11 U.S.C. Section
363(b), has directed that the estate's property cannot be disposed
of by the bankruptcy trustee outside of the ordinary course
without "notice and a hearing."  Sections 1129, 1225, and 1325 all
contemplate a court confirming plans submitted in cases filed
under Chapters 11, 12, and 13.  "If I continue to order sales as I
did prior to Stern, is not the purchaser of that property left
with the risk that the sale will be later declared null because it
was not authorized by the right court? Cf. 11 U.S.C. Sec.
549(a)(2)(B).  And is not the debtor of a Chapter 13 plan
confirmed by me post-Stern left to wonder whether the discharge he
is to receive as a consequence of the ordered plan will really
protect him from a creditor's subsequent efforts to collect?,"
Judge Hughes wondered.

Judge Hughes said one alternative would be "to play it safe and
simply refer without reflection every future determination I make
to a district judge for his or her final review.  However, I do
not see how I can do so in good faith given Authority Section
157(b)(3)'s direction that I must decide even in instances when
not requested whether I have the ability or not under that section
to enter a final order.  28 U.S.C. Sec. 157(b)(3).  Moreover, I
suspect that the Article III judges in my district would not be
pleased with the extra workload such an approach would impose upon
them," he pointed out.

Judge Hughes' opinion is available at http://is.gd/xZJwDCfrom
Leagle.com.

Teleservices Group, Inc., filed for Chapter 11 bankruptcy (Bankr.
W.D. Mich. Case No. 05-00690) in 2005.


TELIPHONE CORP: Reports $1.7-Mil. Net Income in June 30 Quarter
---------------------------------------------------------------
Teliphone Corp. filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q reporting net income
applicable to common shares of US$1.69 million on US$1.13 million
of revenue for the three months ended June 30, 2011, compared with
net income applicable to common shares of US$96,367 on $0 of
revenue for the same period during the prior year.

The Company also reported net income applicable to common shares
of US$1.91 million on US$1.13 million of revenue for the nine
months ended June 30, 2011, compared with a net loss applicable to
common shares of $157,224 on US$79,270 of revenue for the same
period during the prior year.

The Company's balance sheet at June 30, 2011, showed US$2.85
million in total assets, US$986,359 in total liabilities and
US$1.87 million total stockholders' equity.

The Company reported a net loss of US$30,587 on US$1.0 million of
revenues for the three months ended Dec. 31, 2010, compared with
net income of US$150,673 on US$1.4 million of revenues for the
same period of the prior fiscal year.

As reported in the Troubled Company Reporter on Jan. 5, 2011,
KBL, LLP, in New York, expressed substantial doubt about Teliphone
Corp.'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 sustained
operating losses and significant working capital deficits in the
past few years.

The Company was unable to compile the necessary financial
information required to prepare a complete filing.  Thus, the
Company was be unable to file the periodic report in a timely
manner without unreasonable effort or expense.

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

                        http://is.gd/5DURm9

                        About Teliphone Corp.

Montreal, Canada-based Teliphone Corp. (OTCQB: TLPH)
-- http://www.teliphone.ca/-- provides broadband telephone
services utilizing its voice over Internet protocol (VoIP)
technology platform.


TETON AIR: Files Schedules of Assets and Liabilities
----------------------------------------------------
Teton Air Ranch LLC filed with the U.S. Bankruptcy Court for the
District of Ohio its schedules of assets and liabilities,
disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------           ------------      -----------
  A. Real Property                $5,000,000
  B. Personal Property            $8,799,357
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $15,195,420
  E. Creditors Holding
     Unsecured Priority
     Claims                                           120,236
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                         9,403,936
                                ------------     ------------
        TOTAL                    $13,799,537      $24,719,592

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

Teton Air Ranch LLC, in Pocatello, Idaho, filed for Chapter 11
bankruptcy (Bankr. D. Idaho Case No. 11-41190) on July 18, 2011.
Judge Jim D. Pappas presides over the case.  Daniel C. Green,
Esq., at Racine Olson Nye Budge & Bailey, serves as bankruptcy
counsel.  In its petition, the Debtor estimated $10 million to $50
million in assets and debts.  The petition was signed by Corey
Simon, authorized representative.


TEXAS RANGERS: Tom Hicks Hits Back on Lawsuit by Administrator
--------------------------------------------------------------
Barry Shlachter at Star-Telegram reports that former Texas Rangers
owner Tom Hicks fired back at a bankruptcy administrator's lawsuit
against him, with a spokeswoman calling it a "money grab" and
denouncing allegations that he stole millions from the Texas
Rangers as a "deceptive personal attack."

According to the report, Alan M. Jacobs, the team's bankruptcy
administrator responsible for collecting, then distributing
hundreds of millions of dollars due creditors, filed suit in
Dallas on Monday, claiming that Mr. Hicks "embarked on a scheme to
build a real estate empire on the backs of the Texas Rangers'
players and creditors and fans of the team."

The report says Mr. Hicks was taken completely by surprise by the
litigation, said spokeswoman Lisa LeMaster, who emphatically
denied that any team funds were misdirected to enrich Hicks or his
property firm.

The report notes the suit aims to retrieve tens of millions of
dollars that Jacobs says the Rangers were forced to spend on
projects that benefitted Mr. Hicks and his firm, Ballpark Real
Estate, which owns parking lots near the Ballpark at Arlington and
Cowboys Stadium.  More than $30 million was misdirected, it says.

                   About Texas Rangers Baseball

Texas Rangers Baseball Partners owned and operated the Texas
Rangers Major League Baseball Club, a professional baseball club
in the Dallas/Fort Worth Metroplex.  TRBP is a Texas general
partnership, in which subsidiaries of HSG Sports Group LLC own a
100% stake.  Controlled by Thomas O. Hicks, HSG also indirectly
wholly-owns Dallas Stars, L.P., which owns and operates the Dallas
Stars National Hockey League franchise.  The Texas Rangers have
had five owners since the club moved to Arlington in 1972.  Mr.
Hicks became the fifth owner in the history of the Texas Rangers
on June 16, 1998.

Texas Rangers Baseball Partners filed a Chapter 11 petition
(Bankr. N.D. Tex. Case No. 10-43400) on May 24, 2010.  The
partnership filed simultaneously with the bankruptcy petition a
Chapter 11 plan that contemplated the sale of the club to an
entity formed by a group that includes the current President of
the Texas Rangers, Nolan Ryan, and Chuck Greenberg, a sports
lawyer and minor league club owner.  In its petition, Texas
Rangers Baseball Partners said it had both assets and debt of less
than $500 million.

Martin A. Sosland, Esq., at Weil, Gotshal & Manges LLP, served as
bankruptcy counsel to the Debtor.  Forshey & Prostok LLP was the
conflicts counsel.  Parella Weinberg Partners LP served as
financial advisor.  Major League Baseball was represented by Sandy
Esserman, Esq., at Stutzman, Bromberg, Esserman & Plifka PC.

Lenders to the Texas Rangers sought to force the baseball team's
equity owners -- Rangers Equity Holdings, L.P. and Rangers Equity
Holdings GP, LLC -- into bankruptcy court protection (Bankr. N.D.
Tex. Case No. 10-43624 and 10-43625).  The lenders, a group that
includes investment funds Monarch Alternative Capital and
Kingsland Capital Management, filed an involuntary bankruptcy
petition on May 28, 2010 against the two companies.  The two
companies were not included in the May 24 Chapter 11 filing of
TRBP.

U.S. Bankruptcy Judge Stacey G.C. Jernigan on Aug. 5, 2010
confirmed the Debtor's Prepackaged Plan of Reorganization, as
amended four times.  The judge's confirmation order cleared
the way for a group of Hall of Fame pitcher Nolan Ryan, and
Pittsburgh sports attorney and minor-league team owner Charles
Greenberg to purchase the Texas Rangers.  The Ryan group paid
$385 million in cash and assumed $208 million in liabilities.  The
Ryan group outbid Dallas Mavericks owner Mark Cuban at an auction.


THINK3 INC: Taps Asaha Law Offices for Japanese Proceeding
----------------------------------------------------------
Think3 Inc. asks the Hon. Christopher Mott of the U.S. Bankruptcy
Court for the Western District of Texas for permission to employ
Asahi Law Offices as special counsel to represent and advise it in
the chapter 11 case with respect to the Japanese proceeding, the
Debtor's interest in the Japanese subsidiary, the Debtor's
business interests in Japan, and Japanese legal issues.

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

   Professional       Designation     Hourly Rate
   ------------       -----------     -----------
   Satoru Mitsumori   Partner         JPY 44,000 ($569.62)
   Noriyasu Kaneko    Partner         JPY 40,000 ($517.83)
   Masaru Okamoto     Partner         JPY 35,000 ($453.10)

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

The firm can be reached at:

         ASAHI LAW OFFICES
         Attn: Saturo Mitsumori
         13F Marunouchi MY Plaza
         1-1, Marunouchi, 2-Chome
         Chiyoda-ku, Tokyo 100-8385
         Japan
         Tel: (03) 5219 0002
         Fax: (03) 5219 2221
         E-mail: sm@alo.jp

                           About think3

Think3 Inc. develops computer-aided design software.  Think3 has
been a debtor in corporate reorganization proceedings under the
laws of Italy pending before the Court of Bologna since March 14,
2011.  Dr. Andrea Ferri was appointed to act as trustee in the
Italian Proceedings

Think3 sought Chapter 11 protection (Bankr. W.D. Tex. Case No.
11-11252) on May 18, 2011, in Austin, its hometown, three months
after creditors filed an involuntary bankruptcy petition against
the company in a court in Bologna, Italy.  The company didn't
oppose the involuntary bankruptcy.  Rebecca Roof was appointed as
Chief Restructuring Officer.

The Italian trustee filed a Chapter 15 petition (Bankr. W.D. Tex.
Case No. 11-11925) for Think3 in bankruptcy court in Austin on
Aug. 1, claiming she has the right to control the company's
restructuring through the Italian court.

Since the Italian bankruptcy was filed, there have been continuing
disputes over the right to control the company's assets.  ESW
Capital LLC acquired Think3 in September.  The primary debt is a
$23 million tax liability in Italy.

The Italian Trustee is represented by:

          Joel M. Walker, Esq.
          DUANE MORRIS LLP
          Suite 5010, 600 Grant Street
          Pittsburgh, PA 15219-2802
          E-mail: JMWalker@duanemorris.com

               - and -

          Wesley W. Yuan, Esq.
          DUANE MORRIS LLP
          1330 Post Oak Boulevard, Suite 800
          Houston, TX 77056
          Tel: (713) 402-3911
          Fax: (713) 513-5848
          E-mail: wwyuan@duanemorris.com

The Chapter 15 petition estimates Think3's assets and debts to be
between $10 million to $50 million.

Versata FZ-LLC, Versata Development Group, Inc., Versata Software,
Inc., ESW Capital, LLC, the parent of Think3, and Gensym Cayman
L.P., the DIP Lender, are represented by:

         Berry D. Spears, Esq.
         FULBRIGHT & JAWORSKI L.L.P.
         600 Congress Avenue, Suite 2400
         Austin, TX 78701-2878
         Telephone: (512) 536-5246
         Facsimile: (512) 536-4598
         E-mail: bspears@fulbright.com

              - and -

         Zack A. Clement, Esq.
         John D. Cornwell, Esq.
         Camisha L. Simmons, Esq.
         FULBRIGHT & JAWORSKI L.L.P.
         1301 McKinney Street, Suite 5100
         Houston, TX 77010-3095
         Telephone: (713) 651-5151
         Facsimile: (713) 651-5246
         E-mail: zclement@fulbright.com
                 jcornwell@fulbright.com

              - and -

         G. Larry Engel, Esq.
         Vincent J. Novak, Esq.
         Kristin Hiensch, Esq.
         MORRISON & FOERSTER LLP
         425 Market Street
         San Francisco, CA 94105-2482
         Telephone: (415) 268-7000
         Facsimile: (415) 268-7522
         E-mail: lengel@mofo.com
                 vnovak@mofo.com
                 khiensch@mofo.com


THINK3 INC: Court Approves Federico Cornia for Italian Case
-----------------------------------------------------------
The Hon. H. Christopher Mott of the U.S. Bankruptcy Court for the
Western District of Texas authorized Think3 Inc. to employ
Federico Cornia as special counsel to represent and advise it in
this chapter 11 case with respect to the Italian Proceeding and
recovery of property of the estate from the Italian Trustee.

Papers filed with the Court did not disclosed Ms. Cornia's
compensation rate.

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

Ms. Cornia can be reached at:

         Studio Legale Cornia
         Attn: Federico Cornia
         Via Garibaldi n. 3
         40124 Bologna
         Italy
         Tel: (39) 051 232008
         Fax: (39) 051 232668
         E-mail: cornialex@studiolegalecornia.it

                           About think3

Think3 Inc. develops computer-aided design software.  Think3 has
been a debtor in corporate reorganization proceedings under the
laws of Italy pending before the Court of Bologna since March 14,
2011.  Dr. Andrea Ferri was appointed to act as trustee in the
Italian Proceedings

Think3 sought Chapter 11 protection (Bankr. W.D. Tex. Case No.
11-11252) on May 18, 2011, in Austin, its hometown, three months
after creditors filed an involuntary bankruptcy petition against
the company in a court in Bologna, Italy.  The company didn't
oppose the involuntary bankruptcy.  Rebecca Roof was appointed as
Chief Restructuring Officer.

The Italian trustee filed a Chapter 15 petition (Bankr. W.D. Tex.
Case No. 11-11925) for Think3 in bankruptcy court in Austin on
Aug. 1, claiming she has the right to control the company's
restructuring through the Italian court.

Since the Italian bankruptcy was filed, there have been continuing
disputes over the right to control the company's assets.  ESW
Capital LLC acquired Think3 in September.  The primary debt is a
$23 million tax liability in Italy.

The Italian Trustee is represented by:

          Joel M. Walker, Esq.
          DUANE MORRIS LLP
          Suite 5010, 600 Grant Street
          Pittsburgh, PA 15219-2802
          E-mail: JMWalker@duanemorris.com

               - and -

          Wesley W. Yuan, Esq.
          DUANE MORRIS LLP
          1330 Post Oak Boulevard, Suite 800
          Houston, TX 77056
          Tel: (713) 402-3911
          Fax: (713) 513-5848
          E-mail: wwyuan@duanemorris.com

The Chapter 15 petition estimates Think3's assets and debts to be
between $10 million to $50 million.

Versata FZ-LLC, Versata Development Group, Inc., Versata Software,
Inc., ESW Capital, LLC, the parent of Think3, and Gensym Cayman
L.P., the DIP Lender, are represented by:

         Berry D. Spears, Esq.
         FULBRIGHT & JAWORSKI L.L.P.
         600 Congress Avenue, Suite 2400
         Austin, TX 78701-2878
         Telephone: (512) 536-5246
         Facsimile: (512) 536-4598
         E-mail: bspears@fulbright.com

              - and -

         Zack A. Clement, Esq.
         John D. Cornwell, Esq.
         Camisha L. Simmons, Esq.
         FULBRIGHT & JAWORSKI L.L.P.
         1301 McKinney Street, Suite 5100
         Houston, TX 77010-3095
         Telephone: (713) 651-5151
         Facsimile: (713) 651-5246
         E-mail: zclement@fulbright.com
                 jcornwell@fulbright.com

              - and -

         G. Larry Engel, Esq.
         Vincent J. Novak, Esq.
         Kristin Hiensch, Esq.
         MORRISON & FOERSTER LLP
         425 Market Street
         San Francisco, CA 94105-2482
         Telephone: (415) 268-7000
         Facsimile: (415) 268-7522
         E-mail: lengel@mofo.com
                 vnovak@mofo.com
                 khiensch@mofo.com


TIMBER SPECIALISTS: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Timber Specialists, Inc.
        fka Timber Specialists, LLC
        2123 Shelton Avenue
        Statesville, NC 28677

Bankruptcy Case No.: 11-51285

Chapter 11 Petition Date: August 18, 2011

Court: United States Bankruptcy Court
       Middle District of North Carolina (Winston-Salem)

Debtor's Counsel: Dirk W. Siegmund, Esq.
                  IVEY, MCCLELLAN, GATTON, & TALCOTT, LLP
                  Suite 500, 100 S. Elm St.
                  P.O. Box 3324
                  Greensboro, NC 27402-3324
                  Tel: (336) 274-4658
                  Fax: (336) 274-4540
                  E-mail: dws@imgt-law.com

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

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ncmb11-51285.pdf

The petition was signed by James E. Johnson, president.


TONGJI HEALTHCARE: Incurs $84,000 Net Loss in Second Quarter
------------------------------------------------------------
Tongji Healthcare Group, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q reporting a
net loss of $84,228 on $594,672 of total operating revenue for the
three months ended June 30, 2011, compared with a net loss of
$170,272 on $463,696 of total operating revenue for the same
period during the prior year.

The Company also reported a net loss of $22,885 on $1.22 million
of total operating revenue for the six months ended June 30, 2011,
compared with a net loss of $292,282 on $848,463 of total
operating revenue for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $9.28 million
in total assets, $9.09 million in total liabilities, all current,
and $184,654 total stockholders' equity.

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

                        http://is.gd/sKA2GB

                      About Tongji Healthcare

Based in Nanning, Guangxi, the People's Republic of China, Tongji
Healthcare Group, Inc., was incorporated in the State of Nevada on
December 19, 2006.  The Company operates Tongji Hospital,
a general hospital with 105 licensed beds.

The Company reported a net loss of $56,232 on $1.92 million of
total operating revenue for the year ended Dec. 31, 2010, compared
with a net loss of $324,335 on $1.87 million of total operating
revenue during the prior year.

As reported by the TCR on April 25, 2011, Kabani & Company, Inc.,
in Los Angeles, Calif., noted that the Company's significant
operating losses and insufficient capital raise substantial doubt
about its ability to continue as a going concern.


TRADE UNION: Plan Confirmation Hearing Scheduled for Sept. 2
------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
will convene a hearing on Sept. 2, 2011, at 10:00 a.m., to
consider the confirmation of Trade Union International, Inc., and
Duck House, Inc.'s proposed Plan of Reorganization.

Objections, and ballots accepting or rejecting the Plan were due
Aug. 19.  The Debtors are required to file and serve any pleadings
and evidence in support of confirmation of the Plan, including a
plan confirmation brief, a summary of the votes and a reply to any
objection to confirmation of the Plan by Aug. 26.

According to the Amended Disclosure Statement, the Plan payments
to creditors will be derived from the business revenues and
available cash from the revolving credit facility with the Bank
Group under the Settlement Agreement with the Bank Group.

Payments to the Bank Group may also be funded from the Nantong
Wheel Company transaction, from sale of assets that are not
property of the estates, some of which the property serves as
collateral under the Bank Group's Secured Claim and from new value
contribution by the Changs whereby they will contribute 100% of
the net sale proceeds generated from the sale of the Berendo
Property.

The cash in the estate as of the Confirmation Date and the cash
which will be obtained by the estate after the Confirmation Date
will be distributed to Allowed Administrative Claims, Allowed
Priority Tax Claims, Allowed Secured Claims, and Allowed General
Unsecured Claims on account of their Allowed Claims amounts
pursuant to the provisions of the Plan.

Under the Plan, certain secured creditors will have their debt
obligations modified with respect to repayment terms and interest
rates as provided in the Plan and are entitled to vote on the
Plan.  Other Secured Creditors will retain, unaltered, all of
their legal, equitable and contractual rights and consequently,
will be deemed to vote in favor of the Plan.

Depending on the creditor's election for treatment, Allowed
General Unsecured Claims will be paid either (i) 20% of their
Allowed Claim within thirty days of the Effective Date, or (ii)
50% of their Allowed Claim payable in annual installments of 10%
each over a five year period from the Effective Date, with the
first 10% installment payment to be made within 30 days of the
Effective Date.

A full-text copy of the disclosure statement is available for free
at http://bankrupt.com/misc/TRADEUNION_DS_firstamendment.pdf

On July 28, the Official Committee of Unsecured Creditors in the
Debtors' cases asked that the Court deny the confirmation of the
Debtors' First Amended Plan.

The Committee related that the Plan cannot be confirmed because,
among other things:

   -- it provides for impermissible releases of claims against
   insiders of the Debtors;

   -- it implements a substantive consolidation of the Debtors in
   violation of section 1129 (a) (1) of the Bankruptcy Code;

   -- it lacks good faith by reason of improper treatment of
   insiders and affiliates of the Debtors; and

   -- it prevents the Committee and any creditors from filing on
   behalf of the estates any litigation against the Debtors'
   insiders or affiliates.

                        About Trade Union

Montclair, California-based Trade Union International Inc.
supplies aftermarket aluminum alloy wheels and wheel and truck
accessories.  It filed for Chapter 11 bankruptcy protection on
January 31, 2011 (Bankr. C.D. Calif. Case No. 11-13071).  James C.
Bastian, Jr., Esq., at Shulman Hodges & Bastian LLP, in Irvine,
Calif., serves as the Debtor's bankruptcy counsel.  In its
schedules, the Debtor disclosed $11,350,971 in assets and
$19,826,869 in liabilities.

Affiliate Duck House, Inc., a California corporation, filed a
separate Chapter 11 petition on January 27, 2011 (Bankr. C.D.
Calif. Case No. 11-13072).  Duck House, Inc., specializes is
designing products for sports enthusiasts.

Trade Union and Duck House are each owned one-half by Wen Pin
Chang and one-half by Mei Lien Chang.


TRADE UNION: Proposes Settlement with Bank Group Lenders
--------------------------------------------------------
Trade Union International, Inc., and Duck House, Inc., ask the
U.S. Bankruptcy Court for the Central District of California to
approve: (i) a Settlement and compromise of Disputes with the Bank
Group Lenders; and (ii) Ancillary Loan Modification Documents.

The parties to the Settlement Agreement are the Debtors, Wen Pin
Chang, an individual, Mei Lien Chang, an individual, and Wen Pin
Chang And Mei Lien Chang as Trustees of the Chang Revocable Trust
u/t/a Sept. 20, 1996, on the one hand, and Cathay Bank, a
California banking corporation, as agent for itself and Chinatrust
Capital Corporation, successor in interest to ChinaTrust Bank
U.S.A. as a lender,  and Cathay as L/C Issuer.

The notes evidence various loans made by lenders to the Debtors in
the aggregate principal amount of $21,200,000.

According to the Debtors, the settlement and proposed loan
modification will minimize the disruption and expense to the
Debtors' business operations and is the best means for the lenders
to be paid while preserving cash resources.  The Debtors believe
that they will be able to obtain sufficient immediate cash on
terms more favorable than those provided for by the Loan
Modification Agreement.

The principal terms of settlement are, among other things:

   1. The Loan Modification Agreement provides for a new revolving
   line of credit capped at $5,000,000 (with the initial advance
   to be determined at the time of closing), and three term loans,
   Term A in the principal amount of $1,370,000, Term B in the
   amount of $1,620,000 and Term C in the amount of $5,900,000.
   The line of credit will bear interest at the floating rate of
   prime plus 1.75% with a floor of 5% and a cap of 9% per annum
   and the term loans will each bear interest at the rate of 5%
   per annum and mature on the third anniversary of the date of a
   final order approving the Settlement Agreement.

   2. The agent and lenders have agreed to restructure the
   Outstanding Indebtedness and the Loan Documents.
   Notwithstanding agent's consents, such consents by the agent
   will not and do not restrict the agent's rights under the Loan
   Modification Agreement, the Settlement Agreement, or applicable
   law in the event of any future defaults in payment.

   3. Upon the Effective Date, borrower, each guarantor, the
   agent, each lender and L/C Issuer, will be forever relieve,
   release and discharge.

A full-text copy of the Settlement Agreement is available for free
at http://bankrupt.com/misc/TRADEUNION_settlement.pdf

The Debtors set a Sept. 2 hearing on the approval of the
Settlement Agreement.

                        About Trade Union

Montclair, California-based Trade Union International Inc.
supplies aftermarket aluminum alloy wheels and wheel and truck
accessories.  It filed for Chapter 11 bankruptcy protection
(Bankr. C.D. Calif. Case No. 11-13071) on Jan. 31, 2011.  James C.
Bastian, Jr., Esq., at Shulman Hodges & Bastian LLP, in Irvine,
Calif., serves as the Debtor's bankruptcy counsel.  In its
schedules, the Debtor disclosed $11,350,971 in assets and
$19,826,869 in liabilities.

Affiliate Duck House, Inc., a California corporation, filed a
separate Chapter 11 petition on January 27, 2011 (Bankr. C.D.
Calif. Case No. 11-13072).  Duck House, Inc., specializes is
designing products for sports enthusiasts.

Trade Union and Duck House are each owned one-half by Wen Pin
Chang and one-half by Mei Lien Chang.


TRANSAX INTERNATIONAL: Posts $8.8-Mil. Second Quarter Net Income
----------------------------------------------------------------
Transax International Limited filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q reporting
net income of $8.81 million on $0 of revenue for the three months
ended June 30, 2011, compared with a net loss of $975,480 on $0 of
revenue for the same period during the prior year.

The Company also reported net income of $8.63 million on $0 of
revenue for the six months ended June 30, 2011, compared with a
net loss of $1.36 million on $0 of revenue for the same period a
year ago.

The Company's balance sheet at June 30, 2011, showed $51,923 in
total assets, $842,196 in total liabilities, all current, and a
$790,273 total stockholders' deficit.

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

                        http://is.gd/t2cWgK

                     About Transax International

Transax International Limited -- http://www.transax.com/--
primarily through its 55% owned subsidiary, Medlink Conectividade
em Saude Ltda is an international provider of information network
solutions specifically designed for healthcare providers and
health insurance companies.  The Company's MedLink Solution
enables the real time automation of routine patient eligibility,
verification, authorizations, claims processing and payment
functions.  The Company has offices located in Plantation, Florida
and Rio de Janeiro, Brazil.  The Company currently trades on the
OTC Pink Sheet market under the symbol "TNSX" and the Frankfurt
and Berlin Stock Exchanges under the symbol "TX6".

The Company reported a net loss of $2.09 million on $0 of revenue
for the year ended Dec. 31, 2010, compared with a net loss of
$2.80 million on $0 of revenue during the prior year.

As reported by the TCR on April 25, 2011, MSPC Certified Public
Accountants and Advisors, in New York, 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 accumulated losses from operations of
approximately $19.3 million, a working capital deficiency of
approximately $10.8 million and a stockholders' deficiency of
approximately $10.0 million at Dec. 31, 2010.  Additionally,the
Company sold its sole operating subsidiary.


TRANSWEST RESORT: Creditors Object to Owner's Disclosure Statement
------------------------------------------------------------------
Erin Fuchs at Bankruptcy Law360 reports that several Transwest
Resort Properties Inc. creditors objected Monday to the resort
owner's disclosure statement for a Chapter 11 plan that calls for
the restructuring of a mortgage loan and the investment of $30
million in new capital in the company.

Objections poured into the Arizona bankruptcy court from PIM
Ashford Subsidiary I LLC; Ashford Sapphire Acquisition LLC;
Grasslawn Lodging LLC; and Westin Hotel Management LP, which
operates the resorts owned by Transwest, Law360 says.

                      About Transwest Resort

Tucson, Arizona-based Transwest Resort Properties, Inc., filed for
Chapter 11 bankruptcy protection (Bankr. D. Ariz. Case No. 10-
37134) on Nov. 17, 2010.  Kasey C. Nye, Esq., and Elizabeth S.
Fella, Esq., at Quarles & Brady LLP, in Tucson, Ariz., assist the
Debtor in its restructuring effort.  The Debtor estimated its
assets at up to $50,000 and debts at $10 million to $50 million.

Affiliates Transwest Hilton Head Property, L.L.C. (Bankr. D. Ariz.
Case No. 10-37170), Transwest Tucson Property, L.L.C. (Bankr. D.
Ariz. Case No. 10-37160), Transwest Tucson II, L.L.C. (Bankr. D.
Ariz. Case No. 10-37151), and Transwest Hilton Head II, L.L.C.
(Bankr. D. Ariz. Case No. 10-37145) filed separate Chapter 11
petitions on Nov. 17, 2010.  BeachFleischman PC serves as tax
preparer and advisor, accountant and auditor.  Hundley & Company,
LLC, serves as financial restructuring and interest rate experts,
and Hospitality Real Estate Counselors as valuation consultant and
expert.  Transwest Hilton Head Property estimated assets at
$10 million to $50 million and debts at $100 million to
$500 million.  Transwest Tucson Property estimated assets at
$50 million to $100 million and debts at $100 million to
$500 million.

The U.S. Trustee appointed an Official Committee of Unsecured
Creditors on Dec. 15, 2010.


TRANT MANOR: Judge Mann Closes Chapter 11 Bankruptcy Case
---------------------------------------------------------
The Hon. Margaret M. Mann of the U.S. Bankruptcy Court for the
Southern District of California closed the Chapter 11 bankruptcy
case of Trant Manor LLC.

The Court reviewed the Debtor's motion to dismiss Chapter 11 case,
the pleadings filed in support of the motion, and the conditional
opposition filed by the U.S. Trustee, the Debtor having filed an
operating report for the period of May 1, 2011 through May 26,
2011 and having paid the U.S. Trustee's fees for the second
quarter of 2011

City National Bank will be and is hereby granted immediate relief
from the automatic stay in any subsequent bankruptcy case filed by
the Debtor.

According to the Troubled Company Reporter on June 27, 2011, Judge
Mann dismissed the Debtor's Chapter 11 case.  The ruling came
after the Debtor filed a motion seeking dismissal of its Chapter
11 case as provided for under its settlement agreement with City
National Bank, its lender.

The Chapter 11 case was filed on July 31, 2010, in order to
prevent a foreclosure sale of the Debtor's sole asset, an inn in
Coronado known as the 1906 Lodge.  The foreclosure sale was
scheduled by the Bank.  The Debtor and certain individuals who
guaranteed the loan from the Bank have entered into a settlement
agreement with City National Bank.

According to the Debtor, the Settlement Agreement contemplated the
dismissal of the bankruptcy case and the possible refinancing of
the Debtor's real property.  The Debtor also said dismissal is in
the best interests of creditors given that approximately 95% of
the unsecured claims in its case are claims held by parties to the
Settlement Agreement who are Guarantors or affiliates of
Guarantors.

In granting the dismissal request, Judge Mann also directed the
Debtor to pay the U.S. Trustee's fees for the second quarter of
2011 and pay its counsel, Vanderhoff Law Group, $40,837 for fees,
$1,856 for reimbursement of expenses, and up to $2,500 for
services rendered for preparation of the fee application and
order.  The U.S. Trustee previously objected to the dismissal
request to the extent the U.S. Trustee's administrative expense
claims against the Debtor for the second quarter of 2011 are not
paid.

The U.S. Trustee also requested that the dismissal request be
approved subject to the Debtor's filing all applicable monthly
operating reports.  To address the U.S. Trustee's objection, Judge
Mann directed the Debtor to submit a final operating report for
the period May 1 to 26, 2011.

                      About Trant Manor, LLC

Coronado, California-based Trant Manor, LLC, owns an inn in
Coronado known as the 1906 Lodge.  The Debtor filed for Chapter 11
bankruptcy protection (Bankr. S.D. Calif. Case No. 10-13663) on
July 31, 2010.  Alan Vanderhoff, Esq., at Vanderhoff Law,
represents the Debtor as counsel.  In its schedules, the Debtor
disclosed $10,453,395 in assets and $9,488,580 in debts as of the
Petition Date.


TRISTAR FIRE: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Tristar Fire Protection, Inc.
        47810 Galleon Dr.
        Plymouth, MI 48170-2472

Bankruptcy Case No.: 11-62283

Chapter 11 Petition Date: August 18, 2011

Court: United States Bankruptcy Court
       Eastern District of Michigan (Detroit)

Judge: Phillip J. Shefferly

Debtor's Counsel: Michael E. Baum, Esq.
                  SCHAFER AND WEINER, PLLC
                  40950 Woodward Ave., Suite 100
                  Bloomfield Hills, MI 48304
                  Tel: (248) 540-3340
                  E-mail: mbaum@schaferandweiner.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/mieb11-62283.pdf

The petition was signed by Eric Wieber, chief financial officer.


TROPICANA ENTERTAINMENT: Icahn Settles Casino Trademark Suit
------------------------------------------------------------
Carl Icahn and the Tropicana Las Vegas hotel and casino settled a
trademark lawsuit over the right to the name Tropicana with each
allowed to use it depending on the location.

The OpCo Debtors and the OpCo-Related Entities -- the OpCo
Parties -- on the one hand, and the Liquidating LandCo Debtors
and the Tropicana Las Vegas Entities -- the LandCo Parties -- on
the other hand, have reached an agreement on the ownership and
use issues of the "TROPICANA" and "TROP" trademarks, among other
things.

The Settling Parties ask the U.S. Bankruptcy Court for the
District of Delaware to approve the settlement agreement, dated
Aug. 9, 2011, aimed at resolving numerous pending matters before
the Bankruptcy Court and the U.S. District Court for the District
of Nevada and provides for the mutual release of all claims by
and between the Parties related to the trademarks.

The OpCo Debtors refer to Tropicana Entertainment, LLC, and 26 of
its affiliates, namely Adamar Garage Corporation; Argosy of
Louisiana, Inc.; Atlantic-Deauville Inc.; Aztar Corporation;
Aztar Development Corporation; Aztar Indiana Gaming Company, LLC;
Aztar Indiana Gaming Corporation; Aztar Missouri Gaming
Corporation; Aztar Riverboat Holding Company, LLC; Catfish Queen
Partnership in Commendam; Centroplex Centre Convention Hotel,
LLC; Columbia Properties Laughlin, LLC; Columbia Properties
Tahoe, LLC; Columbia Properties Vicksburg, LLC; CP Baton Rouge
Casino, LLC; CP Laughlin Realty, LLC; Jazz Enterprises, Inc.;
JMBS Casino LLC; Ramada New Jersey Holdings Corporation; Ramada
New Jersey, Inc.; St. Louis Riverboat Entertainment, Inc.; Tahoe
Horizon, LLC; Tropicana Entertainment Holdings, LLC; Tropicana
Entertainment Intermediate Holdings, LLC; Tropicana Express,
Inc.; and Tropicana Finance Corp.

The OpCo-Related Entities refer to Tropicana Entertainment Inc.;
New Tropicana Holdings, Inc.; Tropicana Atlantic City Corp.;
Tropicana AC Sub Corp.; New Tropicana OpCo, Inc.; Aztar Riverboat
Holding Company, LLC; Aztar Indiana Gaming Company, LLC; Catfish
Queen Partnership in Commendam; New Jazz Enterprises, LLC;
Centroplex Centre Convention Hotel, LLC; New St. Louis Riverboat,
LLC; CP St. Louis Casino, LLC; CP St. Louis Acquisition, LLC;
Tahoe Horizon, LLC; Columbia Properties Tahoe, LLC; CP Laughlin
Realty, LLC; Columbia Properties Laughlin, LLC; Columbia
Properties Vicksburg, LLC; JMBS Casino, LLC; Greenville
Riverboat, LLC; and Tropicana Express, LLC.

The Liquidating LandCo Debtors, successors to the LandCo Debtors,
comprise of Adamar of Nevada Corporation; Hotel Ramada of Nevada,
LLC, f/k/a Hotel Ramada of Nevada Corporation, a/k/a Hotel Ramada
of Nevada Inc.; Tropicana Development Company, LLC; Tropicana
Enterprises; Tropicana Las Vegas Holdings, LLC; Tropicana Las
Vegas Resort and Casino, LLC; and Tropicana Real Estate Company,
LLC.

The Tropicana Las Vegas Entities comprise of Tropicana Las Vegas,
Inc., Tropicana Las Vegas Hotel and Casino, Inc., and Tropicana
Las Vegas Intermediate Holdings Inc.

The Parties have litigated over their rights to ownership or use
of the TROPICANA or TROP trademarks for over two years.  Certain
hotels and casinos, including the Tropicana Las Vegas, the
Tropicana Atlantic City, and the Tropicana Laughlin operate under
the trademarks.

The OpCo Parties previously proposed that reorganized LandCo
license the name and marks for $10,000,000 over five years with
termination fees of up to $3,000,000.  The LandCo Parties opposed
the proposal, asserting that the predecessors of the LandCo
Debtors were the owners and first users of the "Tropicana" marks
and have used them continuously for more than 50 years.  The
LandCo Parties also pointed out that neither the LandCo Debtors
nor their predecessors have ever executed any license or paid any
royalties with respect to the marks.  The OpCo Parties, however,
maintained that the LandCo Parties do not own and have no right
to continue to use the marks.

While the Parties remain confident in their claims of exclusive
ownership of and right to use the trademarks, they recognize the
inherent risk, cost, and delay of continuing to litigate over
those rights, counsel to the OpCo Parties, Lee E. Kaufman, Esq.,
at Richards, Layton & Finger, P.A., in Wilmington, Delaware,
relates.

"The Settlement Agreement removes that risk, cost, and delay, and
among other things, provides the Parties with exclusive ownership
of and right to use the trademarks in the geographic regions
where they currently operate," Mr. Kaufman tells the Bankruptcy
Court.

                   Related Trademark Disputes

The Tropicana Debtors fall into two groups: (1) The LandCo
Debtors, which comprise of entities previously involved in the
ownership and operation of the Tropicana Hotel and Casino in Las
Vegas, Nevada, including Hotel Ramada of Nevada; and (2) the OpCo
Debtors, which comprise entities previously involved in the
operation of the Tropicana Casino & Resort Atlantic City in New
Jersey, the Tropicana Express in Laughlin, Nevada, and other
casinos.

Tropicana Las Vegas was formerly part of Tropicana Entertainment
LLC, an OpCo Debtor, which was the former parent company of
certain of the other Debtors.  Carl Icahn and his designated
entities have acquired the Tropicana parent.  The Icahn Group
took over the Tropicana Atlantic City Casino on Mar. 8, 2010, the
same date Tropicana Entertainment LLC and certain of its debtor
affiliates emerged from bankruptcy.  The Icahn-owned Tropicana
entity is now called "Tropicana Entertainment Inc."

With the Tropicana parent being acquired by the Icahn Group,
Tropicana Las Vegas was spun off to certain investors, which
include Onex Corporation and its affiliates.  Onex Corporation,
together with Alex Yemenidjian, acquired a majority equity stake
in the Tropicana Las Vegas Hotel and Casino following the
property's emergence from bankruptcy protection on Jul. 1, 2009.
Under the terms of the LandCo plan of reorganization, all secured
debt holders, of which Onex was the largest, received 100% of the
equity in the resort property.

Adamar of New Jersey Inc. and Manchester Mall Inc., sought
Chapter 11 protection in New Jersey, and have since merged into
Adamar of NJ In Liquidation, LLC, in accordance with an amended
and restated purchase agreement.  The Agreement essentially
governs the sale and transfer of the operations of the Tropicana
Casino and Resort Atlantic City, including substantially all of
the New Jersey Debtors' assets, to Tropicana Entertainment Inc.,
Tropicana Atlantic City Corp., and Tropicana AC Sub Corp.  The
bankruptcy cases of the New Jersey Debtors have recently been
dismissed.

Disputes and proceedings related to the TROPICANA trademark
issue, of which the Tropicana Parties are involved in, include a
Nevada lawsuit, a dispute over intellectual property, and an
adversary complaint involving the Icahn Group.

(1) Nevada Action

    On Jul. 20, 2009, Tropicana Las Vegas, Inc. and Hotel Ramada
    of Nevada, LLC, f/k/a Hotel Ramada of Nevada Corporation
    a/k/a Hotel  Ramada of Nevada Inc., filed a complaint
    against OpCo Debtors Tropicana Entertainment, LLC, and Aztar
    Corporation seeking a declaratory judgment that the LandCo
    Parties had the right to operate the Tropicana Las Vegas
    under the TROPICANA trademark without any interference by or
    payment to the OpCo Parties.  The Nevada Action is captioned
    "Tropicana Las Vegas, Inc. v. Aztar Corporation," Case No.
    A595469.

    On Aug. 10, 2009, Tropicana Entertainment and Aztar Corp.
    filed an answer and counterclaim asserting that the LandCo
    Parties' use of the TROPICANA trademark infringes on their
    exclusive rights in that trademark.  Cross-motions for
    summary judgment were subsequently filed in the Nevada
    Action, with each side arguing that they held exclusive
    ownership and use rights in the TROPICANA trademark.  On
    Jun. 10, 2010, the Nevada Court entered its order denying
    the parties' cross-motions for summary judgment, but
    entering findings of fact and conclusions of law.  No trial
    date has been set in the Nevada Action.

(2) IP Motion

    On May 7, 2010, certain of the OpCo-Related Entities filed
    an IP Motion seeking (i) the rejection of all executory
    contracts and unexpired leases involving Intellectual
    Property Rights granted by the OpCo Debtors in favor of the
    LandCo Debtors retroactive as of the July 1, 2009 LandCo
    Plan Effective Date, and (ii) the assumption of all
    executory contracts and unexpired leases involving
    Intellectual Property Rights granted by the LandCo Debtors
    in favor of the OpCo Debtors that are determined to exist.
    Tropicana Las Vegas, Inc. and the Liquidating LandCo Debtors
    objected to the IP Motion.  The IP Motion is being carried
    off-calendar and no hearing date has been set.

(3) Icahn Adversary Proceeding

    The Icahn Adversary Complaint was initiated on Aug. 10,
    2010, by Icahn Agency Services LLC, as the administrative
    and collateral agent for the lenders under the Dec. 29, 2009
    OpCo Exit Facility; Icahn Partners LP; Icahn Partners Master
    Fund LP; Icahn Partners Master Fund II LP; Icahn Partners
    Master Fund III LP; Tropicana Entertainment Inc.; and New
    Tropicana Holdings, Inc. against Tropicana Las Vegas, Inc.
    and Hotel Ramada of Nevada, LLC, to enforce certain prior
    orders of the Bankruptcy Court and to enjoin the Defendants'
    alleged wrongful efforts to assert that they are the owners
    of the "TROPICANA" and "TROP" trademarks and service marks.

    The Icahn Adversary Proceeding is captioned "Icahn Agency
    Services LLC v. Tropicana Las Vegas, Inc. (In re Tropicana
    Entertainment, LLC et al.)," Adv. Proc. No. 10-52489 (Bankr.
    D. Del.) (KJC).

    On Sept. 8, 2010, the Defendants filed a motion to dismiss
    or abstain from adjudication of the Adversary Proceeding,
    which the Icahn Plaintiffs opposed.  Oral argument on the
    Motion to Dismiss has been consensually adjourned while the
    Parties negotiated the Settlement Agreement, and is
    currently scheduled for Sept. 27, 2011.

                      Settlement Agreement

The Settling Parties have engaged in lengthy negotiations
regarding the ownership and use of the TROPICANA and TROP
trademarks, and have ultimately struck a deal to resolve their
disputes.  The Settlement Agreement resolves globally the
Parties' rights of ownership and use in the trademarks as well as
the Nevada Action, the IP Motion, and the Icahn Adversary
Proceeding.

The salient terms of the Settlement Agreement are:

  (a) The Parties agree to concurrent use and registration of
      certain Marks that are or include the term "TROPICANA" or
      variants without any payment from one to another, and in
      perpetuity.

  (b) The LandCo Parties own and have the exclusive right to use
      the "TLV" Marks in their territory (i) in connection with
      any present or future goods, services and enterprise in
      the nature of entertainment and hospitality services or
      within the zone of natural expansion of these services,
      and (ii) for internet uses without geographical
      limitation.

      The LandCo Parties will also have the right to advertise
      their Services identified by the "TLV" Marks worldwide,
      provided that those advertisements make explicit reference
      to the location of the Las Vegas Property.

  (c) The LandCo Parties will not have any right to use the
      mark "TROPICANA," "TROP," or any variation other than as
      part of the composite mark "TROPICANA LAS VEGAS."
      However, the LandCo Parties may use the "TROP" mark
      without reference to LAS VEGAS for purposes of on-property
      signage and marketing property-specific campaigns,
      programs, and events, and selling merchandise on property,
      provided that those uses are in conjunction with materials
      making explicit reference to the Las Vegas Property and
      its location, are not confusingly similar to any
      pre-existing or then current use by the OpCo Parties, and
      are otherwise consistent with the terms of the Agreement.

  (d) The OpCo Parties own and have the exclusive right to use
      the marks "TROPICANA" and "TROP," provided that each is
      accompanied by a preexisting identifier or by an accurate
      geographic identifier other than LAS VEGAS or the name of
      any city within the TLV Territory, and other present or
      future TROPICANA-formative or TROP-formative marks that
      combine TROPICANA or TROP with an additional preexisting
      identifier or accurate geographic identifier other than
      LAS VEGAS or any city within the TLV Territory in
      connection with Services worldwide, excluding only the TLV
      Territory.

  (e) The OpCo Parties will be allowed to advertise the Services
      identified by "TROPICANA," "TROP," TROPICANA-formative or
      TROP-formative marks within the TLV Territory, provided
      that those advertisements make explicit reference to the
      locations of the properties identified by these Marks.
      The OpCo Parties may also use the "TROP" Mark without
      reference to any preexisting identifier or accurate
      geographic identifier for purposes of on-property signage
      and marketing property specific campaigns, programs, and
      events, and selling merchandise on property, provided that
      these uses are in conjunction with materials making
      explicit reference to the locations of the properties to
      which the marketing campaign applies, are not confusingly
      similar to any preexisting use by the LandCo Parties, and
      are otherwise consistent with the terms of the Agreement.

      The OpCo Parties will also be permitted to continue to use
      its Marks in connection with its corporate office located
      within the TLV Territory and to maintain business and
      marketing operations out of its Las Vegas, Nevada, office
      in the ordinary course.

  (f) Each Party will use its Marks on its Web sites, gaming
      sites, social media, or other internet presence on a
      worldwide basis in a manner consistent with the Agreement.

  (g) Each Party agrees not to adopt any stylization that would
      be confusingly similar to the other Party's current
      stylization or other stylization the other Party may adopt
      in the future.  In the event of any confusion between the
      parties, their Marks, and their businesses, the Parties
      will cooperate with each other in good faith to rectify
      the situation.

  (h) Immediately upon the effective date, the Parties will
      jointly file (i) a stipulation of dismissal with prejudice
      of the Nevada Action; (ii) a stipulation and order to
      vacate the Nevada Court's Jun. 10, 2010 order denying the
      Parties' cross-motions for summary judgment and the Nevada
      Court's Aug. 12, 2010 order regarding the motion of
      Tropicana Entertainment, LLC and Aztar Corporation to
      reconsider certain of the Nevada Court's findings and
      conclusions set forth in its SJ Order; and (iii) a
      stipulation of dismissal with prejudice of the Icahn
      Adversary Proceeding, which will be joined by all
      plaintiffs in the action.

      The OpCo Parties will also file a notice of withdrawal
      with prejudice of the IP Motion.

      The LandCo Parties will also file a voluntary dismissal
      with prejudice of Opposition No. 91193816 currently
      pending before the Trademark Trial and Appeal Board, and
      the OpCo Parties will withdraw Intent to Use Applications
      Nos. 77/759,102 and 77/759,101 for the Mark THE TROP LAS
      VEGAS EST. 1957 and design, filed on Jun. 13, 2009, with
      USPTO.

      Tropicana Atlantic City Corp. will file a notice of
      withdrawal with prejudice of proofs of claim against
      Tropicana Enterprises, Tropicana Development Company, LLC,
      Adamar of Nevada Corporation, Tropicana Real Estate
      Company LLC, Hotel Ramada of Nevada Corporation, Tropicana
      Las Vegas Resort and Casino, LLC, and Tropicana Las Vegas
      Holdings, LLC.

  (i) The Parties mutually release each other from any and all
      claims, causes of action, suits, debts, obligations,
      liabilities, demands, losses, costs and expenses of any
      and every kind in connection with the trademarks, trade
      names or disputes relating to web domain names that arose
      or could have been raised before Aug. 9, 2011, the date of
      the Agreement.

A full-text copy of the Settlement Agreement is available at no
charge at:

http://bankrupt.com/misc/Tropi_TrademarkSettlement080911.pdf

A hearing for the approval of the Settlement Agreement has been
set for Sept. 13, 2011.  Objections are due no later than
Aug. 29, 2011, at 4:00 p.m.

                  Adversary Proceeding Dismissed

OpCo Debtors-related parties and LandCo Debtors-related parties,
following good faith negotiations concerning the Icahn Adversary
Proceeding, have entered into a settlement agreement dismissing
the adversary complaint, among other things.

A full-text copy of the Settlement Agreement is available at no
charge at:

http://bankrupt.com/misc/Tropi_TrademarkSettlement080911.pdf

The Settlement Motion is scheduled to be heard by the U.S.
Bankruptcy Court for the District of Delaware on Sept. 13, 2011,
at 3:30 p.m.  After the entry of an order approving the
Settlement Agreement, the Parties will file a stipulation
dismissing the Adversary Proceeding.

The Icahn Plaintiffs are successors-in-interest to the OpCo
Debtors or their creditors, who emerged from bankruptcy on
March 8, 2010.

                   About Tropicana Entertainment

Tropicana Entertainment Inc. is a publicly reporting company that,
along with its affiliates, owns or operates nine casinos and
resorts in Indiana, Louisiana, Mississippi, Nevada and New Jersey.
The Company owns approximately 6,000 rooms, 9,000 slot positions
and 250 table games.  In addition, the Company owns a development
property in Aruba.  The company is based in Las Vegas, Nevada.

Tropicana Entertainment LLC and certain affiliates filed for
Chapter 11 protection on May 5, 2008 (Bankr. D. Del. Case No. 08-
10856).  Kirkland & Ellis LLP and Mark D. Collins, Esq., at
Richards Layton & Finger, represent the Debtors in their
restructuring efforts.  Their financial advisor is Lazard Ltd.
Their notice, claims, and balloting agent is Kurtzman Carson
Consultants LLC.  Epiq Bankruptcy Solutions LLC is the Debtors'
Web site administration agent.  AlixPartners LLP is the Debtors'
restructuring advisor.  Stroock & Stroock & Lavan LLP and Morris
Nichols Arsht & Tunnell LLP represent the Official Committee of
Unsecured Creditors in this case.  Capstone Advisory Group LLC is
financial advisor to the Creditors' Committee.

The OpCo Debtors, a group of Tropicana entities owning casinos and
resorts in Atlantic City, New Jersey and Evansville, Indiana
obtained confirmation from the Bankruptcy Court of a
reorganization plan.  On April 29, 2009, non-debtor units of the
OpCo Debtors, designated as the New Jersey Debtors -- Adamar of
New Jersey, Inc., and its affiliate, Manchester Mall, Inc. --
filed for Chapter 11 (Bankr. D. N.J. Lead Case No. 09- 20711) to
effectuate a sale of the Atlantic City Resort and Casino to a
group of Investors-led by Carl Icahn.   Judge Judith H. Wizmur
presides over the cases.  Manchester Mall is a wholly owned
subsidiary of Adamar that owns and operates certain real property
utilized in the New Jersey Debtors' business operations.
Effective March 8, Tropicana Entertainment successfully emerged
from the Chapter 11 reorganization process as an Carl Icahn-owned
entity.

A group of Tropicana entities, known as the LandCo Debtors, which
own Tropicana casino property in Las Vegas, have obtained approval
of a separate Chapter 11 plan.

Ilana Volkov, Esq., and Michael D. Sirota, Esq., at Cole, Schotz,
Meisel, Forman & Leonard, in Hackensack, New Jersey, represented
the New Jersey Debtors.  Kurtzman Carson Consultants LLC acts as
their claims and notice agent.  Adamar disclosed $500 million to
$1 billion both in total assets and debts in its petition.
Manchester Mall disclosed $1 million to $10 million in total
assets, and less than $50,000 in total debts in its petition.

Debtors Adamar of New Jersey Inc. and Manchester Mall Inc. have
merged into Adamar of NJ In Liquidation, LLC.  The merger and name
change is in accordance with an Amended and Restated Purchase
Agreement, which governs the sale and transfer of the operations
of the Tropicana Casino and Resort - Atlantic City, including
substantially all of the New Jersey Debtors' assets, to Tropicana
Entertainment Inc., Tropicana Atlantic City Corp., and Tropicana
AC Sub Corp., free and clear of any and all liens, claims and
encumbrances.

Bankruptcy Creditors' Service, Inc., publishes Tropicana
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Tropicana Entertainment Inc. and its debtor-affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


TROPICANA ENTERTAINMENT: LandCo Parties Settle With Lazard Freres
-----------------------------------------------------------------
Tropicana entities known as the Liquidating LandCo Debtors and
Tropicana Las Vegas, Inc., ask the U.S. Bankruptcy Court for the
District of Delaware to approve the settlement of their objection
to the final fee applications of Lazard Freres & Co. LLC.

On Aug. 14, 2009, Lazard Freres filed to the Court its final fee
application as investment banker and financial advisor to the
LandCo Debtors for the period from May 5, 2008 through Apr. 22,
2010.  On Apr. 22, 2010, Lazard Freres filed its final fee
application as investment banker and financial advisor to the
OpCo Debtors for the period from May 5, 2008 through Apr. 30,
2009.

By its Final Fee Applications, Lazard Freres is seeking final
allowance of all fees and expenses for services rendered to the
OpCo and LandCo Debtors, including a $11,550,000 "completion
fee."  Lazard Freres asserted that the terms of the completion
fee was provided in the Court order approving its retention in
the Debtors' Chapter 11 cases.  Lazard Freres specifically
proposed an allocation of 16.2% of its total allowed fees and
expenses to the LandCo estates.

The Steering Committee of OpCo Lenders has objected to Lazard
Freres' Final Fee Applications.  The Steering Committee disputed
Lazard Freres' entitlement to a completion fee and alleged that
50% of the firm's allowed fees and expenses should be allocated
to the LandCo estates.  In response, the firm asserted that it is
entitled to recover the entire completion fee and that only 16.2%
of its allowed fees and expenses should be allocated to the
LandCo estates.

The LandCo Parties also objected to Lazard Freres' Final Fee
Applications, specifically to the allowance of $159,221 of the
firm's expenses that consisted of "legal fees."  The LandCo
Parties contended that Lazard Freres provided no explanation for
why it incurred any legal fees in connection with its engagement.

An evidentiary hearing regarding the Allocation Dispute was held
before the Court on May 11, 2011, wherein the Court requested
post-hearing submissions from parties to the Allocation Dispute.
The Court has not yet ruled on the Allocation Dispute.

On Jun. 22, 2011, Lazard Freres filed a summary judgment motion,
which the Court has denied without prejudice, to resolve the Fee
Objections because it "did not believe that any genuine issues of
fact exist."  In addition to seeking entry of an order denying
the Fee Objections, the summary judgment motion also requested
reimbursement from the Steering Committee and the LandCo Parties
of their allocable share of an aggregate amount of $444,164, as
of Jun. 1, 2011, in legal fees incurred by the firm in defending
against the Fee Objections.  The LandCo Parties disputed Lazard
Freres' entitlement to the legal fees.

The LandCo Parties and Lazard Freres have since engaged in good
faith negotiations for the consensual resolution of the Final Fee
Applications.  Lazard Freres has provided information supporting
the "legal fees" that were subject to the LandCo Fee Objection
and has responded to subsequent inquiries of the LandCo parties
regarding the information.

The negotiations ultimately ended in the parties reaching a
settlement agreement to resolve their dispute related to the
Final Fee Applications.

The salient terms of the settlement are:

  (a) The LandCo Parties' objection to the Lazard Final Fee
      Applications will be withdrawn with prejudice; and

  (b) Lazard Freres will not seek and is prohibited from seeking
      reimbursement from the LandCo Parties for any fees and
      expenses incurred by the firm in assessing, analyzing,
      defending against, and resolving the LandCo Fee Objection.

Responses or objections to the parties' settlement are due no
later Aug. 29, 2011, at 4:00 p.m.  Timely filed responses or
objections will be considered at a hearing set for Sept. 27,
2011.

                   About Tropicana Entertainment

Tropicana Entertainment Inc. is a publicly reporting company that,
along with its affiliates, owns or operates nine casinos and
resorts in Indiana, Louisiana, Mississippi, Nevada and New Jersey.
The Company owns approximately 6,000 rooms, 9,000 slot positions
and 250 table games.  In addition, the Company owns a development
property in Aruba.  The company is based in Las Vegas, Nevada.

Tropicana Entertainment LLC and certain affiliates filed for
Chapter 11 protection on May 5, 2008 (Bankr. D. Del. Case No. 08-
10856).  Kirkland & Ellis LLP and Mark D. Collins, Esq., at
Richards Layton & Finger, represent the Debtors in their
restructuring efforts.  Their financial advisor is Lazard Ltd.
Their notice, claims, and balloting agent is Kurtzman Carson
Consultants LLC.  Epiq Bankruptcy Solutions LLC is the Debtors'
Web site administration agent.  AlixPartners LLP is the Debtors'
restructuring advisor.  Stroock & Stroock & Lavan LLP and Morris
Nichols Arsht & Tunnell LLP represent the Official Committee of
Unsecured Creditors in this case.  Capstone Advisory Group LLC is
financial advisor to the Creditors' Committee.

The OpCo Debtors, a group of Tropicana entities owning casinos and
resorts in Atlantic City, New Jersey and Evansville, Indiana
obtained confirmation from the Bankruptcy Court of a
reorganization plan.  On April 29, 2009, non-debtor units of the
OpCo Debtors, designated as the New Jersey Debtors -- Adamar of
New Jersey, Inc., and its affiliate, Manchester Mall, Inc. --
filed for Chapter 11 (Bankr. D. N.J. Lead Case No. 09- 20711) to
effectuate a sale of the Atlantic City Resort and Casino to a
group of Investors-led by Carl Icahn.   Judge Judith H. Wizmur
presides over the cases.  Manchester Mall is a wholly owned
subsidiary of Adamar that owns and operates certain real property
utilized in the New Jersey Debtors' business operations.
Effective March 8, Tropicana Entertainment successfully emerged
from the Chapter 11 reorganization process as an Carl Icahn-owned
entity.

A group of Tropicana entities, known as the LandCo Debtors, which
own Tropicana casino property in Las Vegas, have obtained approval
of a separate Chapter 11 plan.

Ilana Volkov, Esq., and Michael D. Sirota, Esq., at Cole, Schotz,
Meisel, Forman & Leonard, in Hackensack, New Jersey, represented
the New Jersey Debtors.  Kurtzman Carson Consultants LLC acts as
their claims and notice agent.  Adamar disclosed $500 million to
$1 billion both in total assets and debts in its petition.
Manchester Mall disclosed $1 million to $10 million in total
assets, and less than $50,000 in total debts in its petition.

Debtors Adamar of New Jersey Inc. and Manchester Mall Inc. have
merged into Adamar of NJ In Liquidation, LLC.  The merger and name
change is in accordance with an Amended and Restated Purchase
Agreement, which governs the sale and transfer of the operations
of the Tropicana Casino and Resort - Atlantic City, including
substantially all of the New Jersey Debtors' assets, to Tropicana
Entertainment Inc., Tropicana Atlantic City Corp., and Tropicana
AC Sub Corp., free and clear of any and all liens, claims and
encumbrances.

Bankruptcy Creditors' Service, Inc., publishes Tropicana
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Tropicana Entertainment Inc. and its debtor-affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


UINTAH BASIN: Case Summary & Largest Unsecured Creditor
-------------------------------------------------------
Debtor: Uintah Basin Resources, LLC
        Attn: Soung Joon Kim
        1245 East Brickyard Road, Suite 110
        Salt Lake City, UT 84106

Bankruptcy Case No.: 11-32261

Chapter 11 Petition Date: August 22, 2011

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

Judge: Joel T. Marker

Debtor's Counsel: Steven J. McCardell, Esq.
                  DURHAM JONES & PINEGAR
                  111 East Broadway, Suite 900
                  P.O. Box 4050
                  Salt Lake City, UT 84110-4050
                  Tel: (801) 415-3000
                  Fax: (801) 415-3500
                  E-mail: smccardell@djplaw.com

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

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

The petition was signed by Soung Joon Kim, chief operating
officer.

The list of unsecured creditors filed together with its petition
contains only one entry:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Lear & Lear Law Offices LLP        Services                 $2,166
808 East South Temple
Salt Lake City, UT 84102


UNILAVA CORPORATION: Incurs $417,900 Net Loss in Second Quarter
---------------------------------------------------------------
Unilava Corporation filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q reporting a net loss
of $417,920 on $887,256 of revenue for the three months ended
June 30, 2011, compared with a net loss of $277,630 on $1.44
million of revenue for the same period during the prior year.

The Company also reported a net loss of $843,674 on $1.82 million
of revenue for the six months ended June 30, 2011, compared with a
net loss of $500,709 on $2.86 million of revenue for the same
period a year ago.

The Company's balance sheet at June 30, 2011, showed $4.16 million
in total assets, $5.88 million in total liabilities and a $1.72
million total stockholders' deficit.

The Company reported a net loss of $1.00 million on $5.31 million
of revenue for the year ended Dec. 31, 2010, compared with a net
loss of $1.81 million on $7.35 million of revenue during the prior
year.

As reported by the TCR on April 14, 2011, De Joya Griffith &
Company, LLC, in Henderson, Nevada, said that the Company has
suffered losses from operations, which raises substantial doubt
about its ability to continue as a going concern.  The Company has
recently sustained operating losses and has an accumulated deficit
of $2.38 million at Dec. 31, 2010.  In addition, the Company has
negative working capital of $4.59 million at Dec. 31, 2010.

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

                        http://is.gd/paCDAj

                     About Unilava Corporation

Unilava Corporation (OTC BB: UNLA)-- http://www.unilava.com/-- is
a diversified communications holding company incorporated under
the laws of the State of Wyoming in 2009.  Unilava Corporation and
its subsidiary brands provide a variety of communications
services, products, and equipment that address the needs of
corporations, small businesses and consumers.  The Company is
licensed to provide long distance services in 41 states throughout
the U.S. and local phone services across 11 states.  Through its
carrier-grade microwave wireless broadband infrastructure and
broadband Internet access partners, the Company also offers mobile
and high-definition IP-hosted voice services to residential
customers and corporate clients. Additionally, Unilava Corp.
delivers a comprehensive and integrated suite of fee-based online
and mobile advertising and web services to a broad array of
business enterprises.  Headquartered in San Francisco, the Company
has regional offices in Chicago, Seoul, Hong Kong, and Beijing.


UNITED CONTINENTAL: Court Reopens Two UAL Chapter 11 Cases
----------------------------------------------------------
Judge Eugene R. Wedoff of the U.S. Bankruptcy Court for the
Northern District of Illinois reopened, effective as of
August 17, 2011, the Chapter 11 cases of UAL Corporation and UAL
Loyalty Services, Inc. for the sole purpose of enforcing the
Reorganized Debtors' confirmed Plan of Reorganization, its
related confirmation order, and the discharge injunction provided
for by the Chapter 11 Plan, the confirmation order and Section
1141 of the Bankruptcy Code.

The Bankruptcy Court retains jurisdiction with respect to all
matters arising from or related to the implementation of
Judge Wedoff's order.

Prior to the entry of Judge Wedoff's order, the Reorganized
Debtors responded to the objection filed by United Pilots for
Justice, Inc. and more than 700 individual plaintiffs in a
lawsuit before the U.S. District Court for the District of
Columbia.

Counsel to the Reorganized Debtors, Michael B. Slade, Esq., at
Kirkland & Ellis LLP, in Chicago, Illinois, asserted that the
Bankruptcy Code permanently enjoins creditors from collecting any
debt discharged pursuant to a Chapter 11 plan.  The Reorganized
Debtors' Plan and its related confirmation order explicitly
contained that injunction, he stressed.  Contrary to the
Plaintiffs' arguments, it is well-settled that the Bankruptcy
Court is the most appropriate court to consider and apply its
orders, including the Confirmation Order, he argued.  It would
defy logic to hold that a court that issued a judgment cannot
later determine whether or not it barred a subsequent lawsuit, he
pointed out.

Moreover, the dispute does not involve pension plan termination
-- the Pilot Plan was terminated by the PBGC effective December
2004, Mr. Slade said.  He contended that the Plaintiffs'
complaint is a collateral attack on several aspects of the
Reorganized Debtors' bankruptcy cases and defies the Bankruptcy
Court-approved PBGC Settlement, which released the Reorganized
Debtors and informed Plaintiffs that they wanted to challenge the
agreement they had rights under the Employee Retirement Income
Security Act to take action against the PBGC.  Against this
backdrop, it is well established law that the Bankruptcy Court
has core jurisdiction to rule on the primary issues in this
matter: whether the Complaint is a collateral challenge to the
Reorganization Plan or the PBGC Settlement Order, or otherwise
violates the discharge injunction, he maintained.

                     About United Continental

United Continental Holdings, Inc. (NYSE: UAL) is the holding
company for both United Airlines and Continental Airlines.
Together with United Express, Continental Express and Continental
Connection, these airlines operate a total of approximately 5,800
flights a day to 371 airports throughout the Americas, Europe and
Asia from their hubs in Chicago, Cleveland, Denver, Guam, Houston,
Los Angeles, New York, San Francisco, Tokyo and Washington, D.C.
United and Continental are members of Star Alliance, which offers
more than 21,200 daily flights to 1,172 airports in 181 countries
worldwide through its 28 member airlines. United's and
Continental's more than 80,000 employees reside in every U.S.
state and in many countries around the world.  For more
information about United Continental Holdings, Inc., go to
UnitedContinentalHoldings.com.  For more information about the
airlines, see http://www.united.com/and
http://www.continental.com/,and follow each company on Twitter
and Facebook.

United Continental carries 'B2' corporate family and probability
of default ratings, with stable outlook, from Moody's, 'B' issuer
credit ratings, with stable outlook, from Standard & Poor's, and
'B-' issuer default rating from Fitch.

UAL Corp filed for Chapter 11 protection on Dec. 9, 2002 (Bankr.
N.D. Ill. Case No. 02-8191).  James H.M. Sprayregen, Esq., Marc
Kieselstein, Esq., David R. Seligman, Esq., and Steven R. Kotarba,
Esq., at Kirkland & Ellis, represented the Debtors in their
restructuring efforts.  Fruman Jacobson, Esq., at Sonnenschein
Nath & Rosenthal LLP represented the Official Committee of
Unsecured Creditors.  Judge Eugene R. Wedoff confirmed a
reorganization plan for United on Jan. 20, 2006.  The Company
emerged from bankruptcy on Feb. 1, 2006.


UNITED CONTINENTAL: To Pay $3-Mil. to Ex-CIO Halbert
----------------------------------------------------
United Continental Holdings, Inc. will pay R. Keith Halbert
$3,000,000 in connection with his resignation as United Air
Lines, Inc.'s chief information officer, according to a filing
with the U.S. Securities and Exchange Commission on
July 26, 2011.

Mr. Halbert's resignation became effective as of April 30, 2011.

Based on a separation agreement between Mr. Halbert and United
Continental, the holding company will pay Mr. Halbert $3,000,000
in this schedule:

  (a) $2,034,531 will be paid in a cash lump sum on the
      effective date of the agreement; and

  (b) a total of $965,469 will be paid in 18 installments (the
      first 17 of which will be in the amount of $53,906, and
      the last of which will be in the amount of $49,062) on the
      Company's normal payroll cycle, as in effect on the date
      Mr. Halbert executes the Agreement, with the first
      installment paid on the first payroll date occurring on or
      after March 30, 2012.

Mr. Halbert was replaced by Robert Edwards, who served as vice
president of systems of operations at Continental, Crain's
Chicago Business disclosed in another report.  According to
Crain's Chicago Business, Mr. Edwards will receive a $425,000
salary, and 13,080 shares of restricted stock worth about
$250,000 that vest over three years, the report added.

                     About United Continental

United Continental Holdings, Inc. (NYSE: UAL) is the holding
company for both United Airlines and Continental Airlines.
Together with United Express, Continental Express and Continental
Connection, these airlines operate a total of approximately 5,800
flights a day to 371 airports throughout the Americas, Europe and
Asia from their hubs in Chicago, Cleveland, Denver, Guam, Houston,
Los Angeles, New York, San Francisco, Tokyo and Washington, D.C.
United and Continental are members of Star Alliance, which offers
more than 21,200 daily flights to 1,172 airports in 181 countries
worldwide through its 28 member airlines. United's and
Continental's more than 80,000 employees reside in every U.S.
state and in many countries around the world.  For more
information about United Continental Holdings, Inc., go to
UnitedContinentalHoldings.com.  For more information about the
airlines, see http://www.united.com/and
http://www.continental.com/,and follow each company on Twitter
and Facebook.

United Continental carries 'B2' corporate family and probability
of default ratings, with stable outlook, from Moody's, 'B' issuer
credit ratings, with stable outlook, from Standard & Poor's, and
'B-' issuer default rating from Fitch.

UAL Corp filed for Chapter 11 protection on Dec. 9, 2002 (Bankr.
N.D. Ill. Case No. 02-8191).  James H.M. Sprayregen, Esq., Marc
Kieselstein, Esq., David R. Seligman, Esq., and Steven R. Kotarba,
Esq., at Kirkland & Ellis, represented the Debtors in their
restructuring efforts.  Fruman Jacobson, Esq., at Sonnenschein
Nath & Rosenthal LLP represented the Official Committee of
Unsecured Creditors.  Judge Eugene R. Wedoff confirmed a
reorganization plan for United on Jan. 20, 2006.  The Company
emerged from bankruptcy on Feb. 1, 2006.


UNITED CONTINENTAL: Sick Calls Cancelled 24 Continental Flights
---------------------------------------------------------------
Pilot shortage caused by sick calls led United Continental
Holdings, Inc. to cancel 24 Continental flights in late July,
Susan Carey of The Wall Street Journal reported.

A spokesperson for United Continental disclosed that the holding
company cancelled scrubbed flights for July 27, 2011, after it
received sick calls from pilots at its subsidiary Continental
Airlines, Inc., Ms. Carey related.

The report stated that Continental and United Air Lines, Inc.
pilots continue to operate separately under the terms of their
own pre-merger union contracts.  Once the merged airline achieves
a common labor contract with the pilot groups and obtain a single
operating certificate from federal regulators, United Continental
will be able to interchange the planes and pilots, the report
noted.

The United Continental spokesperson stated that there are more
Continental pilots available to fly this summer than last summer
as all Continental pilots who were furloughed and wanted to
return to work have done so, the report relayed.

Ms. Carey observed that United Continental has been embroiled in
"increasingly contract negotiations" with the two pilot groups at
United and Continental.  Indeed, the Air Line Pilot Association,
which represents pilots at United and continental, has complained
about the slow pace of the negotiations on a new joint contract
that will succeed the separate bargaining agreements, which have
been open for renewal for years, Ms. Carey pointed out.

United Continental Chief Executive Officer Jeffery Smisek
acknowledged at the recent second quarter conference call that he
no longer thinks the company will reach joint contracts with all
of its unions by the end of the year, which he said was his
"admittedly aggressive goal," The Journal relayed.  The pilot
union leaders were not too happy with the CEO's remarks.

Continental Master Executive Council Jay Pierce asserted that the
pilots are doing their part at the bargaining table and they
"remain fully committed to reaching agreement on a new contract
that meets the needs of our pilots."  United Master Executive
Council Chairman Captain Wendy Morse emphasized that if senior
management wants to build a corporate culture on which to build
the world's leading airline, "then they have to be serious about
reaching contracts with their employees as they were securing
contracts for themselves more than 12 months ago."

The Journal related that under federal labor law, airline
employees cannot strike when their contracts open for renewal but
must continue under the old terms until a new deal is reached.
The Journal cited that work-to-rule campaigns or sick-ins are
illegal.  United won a federal injunction against ALPA and some
individual pilots, alleging they conducted an unlawful campaign
of sick-leave abuse, pilot intimidation and other actions that
resulted in hundreds of flight cancellations, the report added.

                     About United Continental

United Continental Holdings, Inc. (NYSE: UAL) is the holding
company for both United Airlines and Continental Airlines.
Together with United Express, Continental Express and Continental
Connection, these airlines operate a total of approximately 5,800
flights a day to 371 airports throughout the Americas, Europe and
Asia from their hubs in Chicago, Cleveland, Denver, Guam, Houston,
Los Angeles, New York, San Francisco, Tokyo and Washington, D.C.
United and Continental are members of Star Alliance, which offers
more than 21,200 daily flights to 1,172 airports in 181 countries
worldwide through its 28 member airlines. United's and
Continental's more than 80,000 employees reside in every U.S.
state and in many countries around the world.  For more
information about United Continental Holdings, Inc., go to
UnitedContinentalHoldings.com.  For more information about the
airlines, see http://www.united.com/and
http://www.continental.com/,and follow each company on Twitter
and Facebook.

United Continental carries 'B2' corporate family and probability
of default ratings, with stable outlook, from Moody's, 'B' issuer
credit ratings, with stable outlook, from Standard & Poor's, and
'B-' issuer default rating from Fitch.

UAL Corp filed for Chapter 11 protection on Dec. 9, 2002 (Bankr.
N.D. Ill. Case No. 02-8191).  James H.M. Sprayregen, Esq., Marc
Kieselstein, Esq., David R. Seligman, Esq., and Steven R. Kotarba,
Esq., at Kirkland & Ellis, represented the Debtors in their
restructuring efforts.  Fruman Jacobson, Esq., at Sonnenschein
Nath & Rosenthal LLP represented the Official Committee of
Unsecured Creditors.  Judge Eugene R. Wedoff confirmed a
reorganization plan for United on Jan. 20, 2006.  The Company
emerged from bankruptcy on Feb. 1, 2006.


UNITED STATES OIL: Incurs $665,000 Net Loss in Second Quarter
-------------------------------------------------------------
United States Oil and Gas Corp. filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q reporting a
net loss of $665,311 on $8.67 million of net sales for the three
months ended June 30, 2011, compared with net income of $16,418 on
$5.97 million of net sales for the same period a year ago.

The Company also reported a net loss of $1.20 million on $15.74
million of net sales for the six months ended June 30, 2011,
compared with a net loss of $622,458 on $11.36 million of net
sales for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $7.44 million
in total assets, $7.34 million in total liabilities and $103,875
total stockholders' equity.

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

                        http://is.gd/ny4RDo

                      About United States Oil

United States Oil and Gas Corp. OTC QB: USOG)
-- http://www.usaoilandgas.com/-- is an oil and gas products,
services and technology company headquartered in Austin, Texas.
Through its subsidiaries, the Company markets and distributes
refined oil and gas (diesel, gasoline, propane, high octane racing
fuels and lubricants) to wholesale and retail customers in the
United States.

As reported in the TCR on April 27, 2011, M&K CPAS, PLLC, in
Houston, Texas, expressed substantial doubt about United States
Oil and Gas Corp.'s ability to continue as a going concern,
following the Company's 2010 results.  The independent auditors
noted that the Company has accumulated losses resulting in an
accumulated deficit as of Dec. 31, 2010.


V-R PROPERTY: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: V-R Property Management, a Nevada Corporation
        2152 N. Carson St.
        Carson City, NV 89706

Bankruptcy Case No.: 11-52653

Chapter 11 Petition Date: August 19, 2011

Court: United States Bankruptcy Court
       District of Nevada (Reno)

Judge: Bruce T. Beesley

Debtor's Counsel: Paul W. Freitag, Esq.
                  THE LAW OFFICES OF PAUL FREITAG
                  885 Tyler Way
                  Reno, NV 89431
                  Tel: (775) 331-5666
                  E-mail: freitaglaw@yahoo.com

Scheduled Assets: $1,528,024

Scheduled Debts: $3,241,776

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/nvb11-52653.pdf

The petition was signed by Mohammad S. Ahmad, president.


WASHINGTON MUTUAL: Court Signals Plan Ruling Is Near
----------------------------------------------------
Peg Brickley of Dow Jones Daily Bankruptcy Review reports that
Judge Mary Walrath on Wednesday indicated that creditors may not
have to wait long to find out whether she will confirm Washington
Mutual Inc.'s $7 billion Chapter 11 plan.

"I'm a long way towards issuing a decision," Judge Walrath said at
the start of a session in which she will hear a final debate over
the plan.

"Creditors of the debtors have waited nearly three years for any
recovery," Fred Hodara, Esq., at Akin Gump Strauss Hauer and Feld,
attorney for the official committee of unsecured creditors, said
at a hearing in the U.S. Bankruptcy Court in Wilmington, Delaware,
according to DBR.

                    About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- was the 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.


WASHINGTON MUTUAL: Judge Keeps FDIC in Deutsche Bank's $10BB Suit
-----------------------------------------------------------------
Dan Rivoli at Bankruptcy Law360 reports that a federal judge in
Washington last week refused to let the Federal Insurance Deposit
Corp. exit a Deutsche Bank AG unit's $10 billion suit over bad
mortgage loans that Washington Mutual Bank NA issued before
federal regulators seized the troubled bank.

According to Law360, Deutsche Bank National Trust Co., serving as
a trustee for securitized groups of home loans, in 2009 sued the
FDIC, WaMu's receiver, and J.P. Morgan Chase & Co., which acquired
the bank.

                      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.


WAXESS HOLDINGS: Incurs $2 Million Second Quarter Net Loss
----------------------------------------------------------
Airtouch Communications, Inc., formerly known as Waxess Holdings,
filed with the U.S. Securities and Exchange Commission its
quarterly report on Form 10-Q reporting a net loss attributable to
the Company of $2.01 million on $250,499 of net revenue for the
three months ended June 30, 2011, compared with a net loss
attributable to the Company of $1.34 million on $3,934 of net
revenue for the same period during the prior year.

The Company also reported a net loss attributable to the Company
of $4.32 million on $477,217 of net revenue for the six months
ended June 30, 2011, compared with a net loss attributable to the
Company of $1.96 million on $3,934 of net revenue for the same
period a year ago.

The Company's balance sheet at June 30, 2011, showed $1.19 million
in total assets, $880,561 in total liabilities and a $317,872 in
total stockholders' equity.

As reported by the TCR on May 30, 2011, Jonathon P. Reuben, C.P.A.
Accountancy Corporation, in Torrance, California, expressed
substantial doubt about Waxess Holdings' ability to continue as a
going concern, following the Company's 2010 results.  The
independent auditors noted that the Company has incurred net
losses since inception, and as of Dec. 31, 2010, had an
accumulated deficit of $192,863.

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

                        http://is.gd/Npa67W

                       About Waxess Holdings

Waxess Holdings, Inc., is a technology firm, located in Newport
Beach, Calif., that was incorporated in 2008 and develops and
markets phone terminals capable of converging traditional
landline, cellular and data services based on its patent
portfolio.  Waxess currently offers its DM1000 (cell@home) product
through various channels, including several of the major US
carriers, and is working to bring its higher performance, lower
cost next generation DM1500 and MAT1000 products to the market.


WJO INC: Exclusive Plan Filing Period Extended to Sept. 30
----------------------------------------------------------
On Aug. 4, 2011, the U.S. Bankruptcy Court for the Eastern
District of Pennsylvania extended WJO, Inc.'s exclusive period to
file a plan of reorganization and to solicit acceptance of a filed
plan until Sept. 30, 2011, and Oct. 30, 2011, respectively.

                         About WJO Inc.

Bristol, Pennsylvania-based WJO, Inc., operates six family
practices located in Newtown, Bristol, Bensalem, Bustleton, South
Philadelphia, and Bethlehem, Pennsylvania and consists of Board
Certified Osteopathic Physicians specializing in Family Medicine.
Prior to the petition date, and to allow the Company to
restructure effectively, HyperOx Inc., HyperOx I, LP, HyperOx
III, LP, and East Coast TMR, Inc., were merged into WJO.

WJO filed for Chapter 11 bankruptcy protection (Bankr. E.D. Pa.
Case No. 10-19894) on Nov. 15, 2010.  The Debtor disclosed
$19,923,802 in assets and $6,805,255 in liabilities as of the
Chapter 11 filing.

Albert A. Ciardi, III, Esq., Holly Elizabeth Smith, Esq., and
Thomas Daniel Bielli, Esq., at Ciardi Ciardi & Astin, P.C., in
Philadelphia, serve as the Debtor's bankruptcy counsel.  Pond
Lehocky Stern Giordano serves as the Debtor's special counsel to
represent it in worker's compensation proceedings pertaining to
the Therapeutic Magnetic Resonance treatments.

Attorneys at Pachulski Stang Ziehl and Jones LLP, in Wilmington,
Delaware, serve as counsel to the official committee of unsecured
creditors.  ParenteBeard LLC serves as the Committee's accountant
and financial advisor.

The United States Trustee has appointed David Knowlton as patient
care ombudsman in the case.  The Ombudsman is represented in the
case by Karen Lee Turner, Esq., at Eckert Seamans Cherin &
Mellott, LLC, as counsel.

Tristate Capital Bank, the cash collateral lender, is represented
in the case by lawyers at Benesch Friedlander Coplan & Aronoff
LLP.


W.R. GRACE: Still Addressing 100+ Asbestos Claims
-------------------------------------------------
relating to the Company's asbestos-containing products and more
than 200 claims filed by the Company's employees or former
employees, according to the Company's August 5, 2011 Form 10-Q
filing with the U.S. Securities and Exchange Commission for the
quarter ended June 30, 2011.

The Bankruptcy Court established a bar date of March 31, 2003, for
claims of general unsecured creditors, asbestos-related property
damage claims and medical monitoring claims related to asbestos.
The bar date did not apply to asbestos-related personal injury
claims or claims related to property damage as a result of using
the Company's Zonolite Attic Insulation products.

Approximately 14,900 proofs of claim were filed by the March 31,
2003, bar date.  Of these claims, approximately 9,500 were
non-asbestos related, approximately 4,400 were PD Claims, and
approximately 1,000 were for medical monitoring.  The medical
monitoring claims were made by individuals who allege exposure to
asbestos through Grace's products or operations.  Under the Joint
Plan of Reorganization, these claims would be channeled to the PI
Trust for resolution.  In addition, approximately 800 proofs of
claim were filed after the bar date.

Approximately 6,685 non-asbestos related claims were filed by
employees or former employees for benefits arising from Grace's
existing plans, programs, and policies regarding employee bonuses
and other compensation, indemnity agreements or various medical,
insurance, severance, retiree and other benefits.  On July 3,
2010, the Bankruptcy Court entered an order disallowing the
Employee Claims because: (i) Grace has continued to pay its Grace
Benefit Programs obligations during the Chapter 11 Cases and
intends to do so for the remainder of the Chapter 11 Cases and
thereafter; and (ii) pursuant to the Joint Plan, Grace is assuming
its obligations under the Grace Benefit Programs and will continue
to pay all such obligations pursuant to the terms and conditions
of the applicable Grace Benefit Programs.  The omnibus objection
to Employee Claims does not address an additional approximately
255 claims filed by employees and former employees.  These
remaining employee-related claims will be addressed through the
claim objection process and the dispute resolution procedures
approved by the Bankruptcy Court.

The remaining non-asbestos, non-employee related claims include
claims for payment of goods and services, taxes, product
warranties, principal and interest under pre-petition credit
facilities, amounts due under leases and other contracts, leases
and other executory contracts rejected in the Chapter 11 Cases,
environmental remediation, pending non-asbestos-related
litigation, and non-asbestos-related personal injury.  The Debtors
analyzed the claims filed pursuant to the March 31, 2003, bar date
and found that many are duplicates, represent the same claim filed
against more than one of the Debtors, lack any supporting
documentation, or provide insufficient supporting documentation.
As of June 30, 2011, of the approximately 4,335 non-ZAI PD Claims
filed, approximately 395 claims have been resolved, approximately
3,905 claims have been expunged, reclassified by the Debtors or
withdrawn by claimants, leaving approximately 35 claims to be
addressed through the property damage case management order
approved by the Bankruptcy Court or the Joint Plan or another plan
of reorganization.  The claims remaining to be addressed include
16 asbestos property damage claims that had been expunged by a
Bankruptcy Court order that was reversed by an order of the
District Court on September 29, 2009.  As of June 30, 2011, of the
approximately 3,300 non-asbestos claims filed, approximately 1,925
have been expunged or withdrawn by claimants, approximately 1,190
have been resolved, and an additional approximately 185 claims are
to be addressed through the claim objection process and the
dispute resolution procedures approved by the Bankruptcy Court.

Additionally, by order dated June 17, 2008, the Bankruptcy Court
established October 31, 2008 as the bar date for ZAI PD Claims
related to property located in the U.S.  As of June 30, 2011,
approximately 19,260 US ZAI PD Claims have been filed. In
addition, on October 21, 2008, the Bankruptcy Court entered an
order establishing August 31, 2009 as the bar date for ZAI PD
Claims related to property located in Canada.  Under the Amended
Settlement, notwithstanding the Canadian ZAI PD Claims Bar Date of
August 31, 2009, all Canadian ZAI PD Claimants who have filed a
proof of claim by December 31, 2009, shall be entitled to seek
compensation from the Canadian ZAI PD Claims Fund to be
established pursuant to the Amended Settlement.  As of June 30,
2011, approximately 14,100 Canadian ZAI PD Claims have been filed.
The Joint Plan provides for the channeling of US ZAI PD Claims and
Canadian ZAI PD Claims to the Asbestos PD Trust created under the
Joint Plan, and the subsequent transfer of Canadian ZAI PD Claims
to a Canadian fund.  No bar date has been set for personal injury
claims related to ZAI.  The Joint Plan provides that ZAI PI Claims
would be channeled to the Asbestos PI Trust created under the
Joint Plan.

Grace is continuing to analyze and review unresolved claims in
relation to the Joint Plan.  Grace believes that its recorded
liabilities for claims subject to the March 31, 2003, bar date
represent a reasonable estimate of the ultimate allowable amount
for claims that are not in dispute or have been submitted with
sufficient information to both evaluate the merit and estimate the
value of the claim.  The PD Claims are considered as part of
Grace's overall asbestos liability and are being accounted for in
accordance with the conditions precedent under the Prior Plan.

                     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: Cryovac Suits vs. Sealed Air Stayed
-----------------------------------------------
Class action lawsuits filed against Sealed Air Corporation as a
result of its purchase of W.R. Grace & Co.'s Cryovac packaging
business in 1998 remain stayed due to Grace's Chapter 11
bankruptcy case, according to Sealed Air's August 5, 2011
Form 10-Q filing with the U.S. Securities and Exchange Commission
for the quarter ended June 30, 2011.

Since the beginning of 2000, Sealed Air has been served with a
number of lawsuits alleging that, as a result of the Cryovac
transaction, it is responsible for alleged asbestos liabilities of
Grace and its subsidiaries, some of which were also named as co-
defendants in some of these actions.  Among these lawsuits are
several purported class actions and a number of personal injury
lawsuits.  Some plaintiffs seek damages for personal injury or
wrongful death, while others seek medical monitoring,
environmental remediation or remedies related to an attic
insulation product.  Neither the former Sealed Air Corporation nor
Cryovac, Inc. ever produced or sold any of the asbestos-containing
materials that are the subjects of these cases.  None of these
cases has reached resolution through judgment, settlement or
otherwise.  Grace's Chapter 11 bankruptcy proceeding has stayed
all of these cases.

                     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)


* FDIC's 'Problem' List Shrinks for First Time Since 2006
---------------------------------------------------------
Bloomberg News reports that the Federal Deposit Insurance Corp.'s
list of "problem" banks fell in the second quarter for the first
time since 2006 as the industry's income improved and costs tied
to bad loans eased.  The confidential list of banks deemed at
greater risk of collapse shrank by 23 firms to 865, the FDIC said
Aug. 23 in its Quarterly Banking Profile.  The last time that
happened was the third quarter of 2006 before the credit crisis
began, the agency said.

The FDIC defines "problem" institutions as those with financial,
operational or managerial weaknesses that threaten their
viability.

According to the report, the deposit insurance fund, which
protects customer holdings up to $250,000 per account in the event
of a failure, was positive for the first time in two years, the
agency said.  The fund, which had been depleted by a wave of bank
failures stemming from the collapse of the U.S. housing market,
rose to $3.9 billion, because of fewer expected bank failures and
assessment revenue, the agency said.  The FDIC insures deposits at
more than 7,500 banks and thrifts.

The agency, the report relates, said it is prepared to deal with
dismantling any lenders that fail if the need arises, citing new
authority granted by the Dodd-Frank regulatory overhaul.  The
Dodd-Frank Act requires the FDIC to craft regulations including
the so-called living wills rule, which would force systemically
risky firms to spell out how they can be unwound in the event of a
collapse.


* Supreme Court Ruling Curtails Power of Bankruptcy Judges
----------------------------------------------------------
Dow Jones' DBR Small Cap reports that leave it to Anna Nicole
Smith to shake up the bankruptcy system.


* Cohen & Grigsby Adds Christine Bowers to Business and Tax Group
-----------------------------------------------------------------
Cohen & Grigsby, a business law firm with headquarters in
Pittsburgh, PA and an office in Bonita Springs, FL, appointed
Christine Bowers as senior counsel in the firm's Business and Tax
Group.  In this role, Bowers will advise clients across the entire
business development life cycle on various domestic and
international tax issues.  She will assist clients in structuring
business transactions, tax planning for partnerships, limited
liability companies, S corporations, tax-exempt organizations and
in handling tax disputes.

"Christine is a valuable addition to the firm," said Jack Elliott,
president and chief executive officer of Cohen & Grigsby.  "Her
accomplishments, both academically and professionally, will serve
her well as she advises and represents clients."

Prior to joining Cohen & Grigsby, Bowers worked as an associate at
Buchanan, Ingersoll & Rooney, PC in the areas of tax and employee
benefits.  Previously, Bowers worked as a manager of international
tax services in the Pittsburgh office of Deloitte Tax LLP, where
she planned and implemented internal restructurings for
multinational corporations, and as a tax associate at a large law
firm based in Richmond, Virginia.  Bowers also served as an
attorney-advisor to the Hon. L. Paige Marvel of the United States
Tax Court in Washington, D.C.

Bowers earned her LL.M. in Taxation from the New York University
School of Law and her J.D. from the University of Pittsburgh
School of Law. She also received a Bachelor of Arts in Psychology
from Boston University.

                       About Cohen & Grigsby

Established in 1981 in Pittsburgh, PA, Cohen & Grigsby --
http://www.cohenlaw.com/-- is a business law firm with
headquarters in Pittsburgh and an office in Bonita Springs, FL.
Cohen & Grigsby attorneys cultivate a culture of performance by
serving as business counselors as well as legal advisors to an
extensive list of clients that includes private and publicly held
businesses, nonprofits, multinational corporations, individuals
and emerging companies.  The firm has more than 130 lawyers in
eight practice groups - Business & Tax, Labor & Employment,
Immigration/International Business, Real Estate, Intellectual
Property, Litigation, Bankruptcy & Creditors' Rights, and Estates
& Trusts.


* Paul Hastings Lures Shearman Bankruptcy, Financing Pro
--------------------------------------------------------
Paul Hastings LLP announced Tuesday that Michael Baker has joined
the Leveraged Finance practice in New York. Mr. Baker, previously
with Shearman & Sterling LLP, is a prominent leveraged finance
lawyer with extensive bank lending experience. His arrival follows
the addition of leveraged finance partners Michael Michetti and
Rich Farley, who joined in July and June, respectively.

"Michael's hire marks another important step in our strategy to
build a top-tier leveraged finance group in New York and
throughout our global network," said William Schwitter, chair of
the Leveraged Finance practice. "His experience in bank lending
complements our existing global finance capabilities and together
with the recent additions of Mike Michetti and Rich Farley, means
we can advise clients on their most complex transactions," he
added.

"Our recent leveraged finance expansion illustrates our commitment
to delivering clients superior finance expertise," said Elizabeth
Noe, chair of the Corporate practice. "We are excited to be
welcoming Michael at this critical stage in our growth," she
added.

Mr. Baker's practice is focused on representing senior lenders,
subordinated lenders and borrowers in connection with domestic and
international acquisition and leveraged buyout financings,
workouts, debt restructurings, debtor-in-possession financings,
structured financings and intercreditor issues, with a special
emphasis on Canadian-US cross-border and global financing
transactions.

Paul Hastings is a leading global law firm with offices in Asia,
Europe, and the United States.


* Recent Small-Dollar & Individual Chapter 11 Filings
-----------------------------------------------------

In Re DCS Systems, Inc.
   Bankr. M.D. Ala. Case No. 11-11350
      Chapter 11 Petition filed August 11, 2011
         See http://bankrupt.com/misc/almb11-11350.pdf

In Re Amir Pizza Group Inc.
   Bankr. C.D. Calif. Case No. 11-21294
      Chapter 11 Petition filed August 11, 2011
         See http://bankrupt.com/misc/cacb11-21294.pdf

In Re Darryl Boyd
   Bankr. C.D. Calif. Case No. 11-44163
      Chapter 11 Petition filed August 11, 2011

In Re Joseph Bonafede
   Bankr. C.D. Calif. Case No. 11-21296
      Chapter 11 Petition filed August 11, 2011

In Re Rosario Jimenez
   Bankr. C.D. Calif. Case No. 11-44293
      Chapter 11 Petition filed August 11, 2011

In Re Steve Simmons
   Bankr. E.D. Calif. Case No. 11-39537
      Chapter 11 Petition filed August 11, 2011

In Re Bell Machine & Fabrication, Inc.
   Bankr. W.D. Ky. Case No. 11-33912
      Chapter 11 Petition filed August 11, 2011
         See http://bankrupt.com/misc/kywb11-33912.pdf

In Re Mark Hemby
   Bankr. D. Md. Case No. 11-26476
      Chapter 11 Petition filed August 11, 2011

In Re TVHG, LLC
   Bankr. W.D. Mo. Case No. 11-21407
      Chapter 11 Petition filed August 11, 2011
         See http://bankrupt.com/misc/mowb11-21407.pdf

In Re Frank Meoli
   Bankr. D. Nev. Case No. 11-22733
      Chapter 11 Petition filed August 11, 2011

In Re Salvador Espinoza
   Bankr. D. Nev. Case No. 11-22728
      Chapter 11 Petition filed August 11, 2011

In Re Gold Eagle Funding Corp.
   Bankr. E.D.N.Y. Case No. 11-46926
      Chapter 11 Petition filed August 11, 2011
         filed pro se

In Re Pirates Pub, Inc.
   Bankr. E.D. N.C. Case No. 11-06179
      Chapter 11 Petition filed August 11, 2011
         See http://bankrupt.com/misc/nceb11-06179.pdf

In Re Falu Flowers And Funeral Home Corp.
   Bankr. D. Puerto Rico Case No. 11-06777
      Chapter 11 Petition filed August 11, 2011
         See http://bankrupt.com/misc/prb11-06777.pdf

In Re Macaracahimbo Investment Inc.
   Bankr. D. Puerto Rico Case No. 11-06773
      Chapter 11 Petition filed August 11, 2011
         See http://bankrupt.com/misc/prb11-06773.pdf

In Re The Carpet Mill Outlet, Inc.
   Bankr. N.D. Texas Case No. 11-44573
      Chapter 11 Petition filed August 11, 2011
         See http://bankrupt.com/misc/txnb11-44573.pdf

In Re Corporate Interactive & Web, Inc.
   Bankr. S.D. Texas Case No. 11-36912
      Chapter 11 Petition filed August 11, 2011
         See http://bankrupt.com/misc/txsb11-36912.pdf

In Re TYEBS, Inc.
        dba Quality Commercial Printing
        fdba QCP Print Solutions
        aka QCP
   Bankr. S.D. Texas Case No. 11-36911
      Chapter 11 Petition filed August 11, 2011
         See http://bankrupt.com/misc/txsb11-36911.pdf

In Re AS Warehouse Corporation
   Bankr. W.D. Texas Case No. 11-31544
      Chapter 11 Petition filed August 11, 2011
         See http://bankrupt.com/misc/txwb11-31544.pdf

In Re Carolly Erickson
   Bankr. E.D. Wash. Case No. 11-03949
      Chapter 11 Petition filed August 11, 2011

In Re Clare House Bungalow Homes, LLC
   Bankr. E.D. Wash. Case No. 11-03981
      Chapter 11 Petition filed August 11, 2011
         filed pro se

In Re Two Rivers Ranch I, LLC
   Bankr. E.D. Wash. Case No. 11-03963
      Chapter 11 Petition filed August 11, 2011
         See http://bankrupt.com/misc/waeb11-03963.pdf

In Re Michael Graeff
   Bankr. W.D. Wash. Case No. 11-46477
      Chapter 11 Petition filed August 11, 2011

In Re Larry Sheffield
   Bankr. D. Ariz. Case No. 11-23253
      Chapter 11 Petition filed August 12, 2011

In Re Bunny Bowers
   Bankr. C.D. Calif. Case No. 11-21328
      Chapter 11 Petition filed August 12, 2011

In Re Michael Snyder
   Bankr. C.D. Calif. Case No. 11-21373
      Chapter 11 Petition filed August 12, 2011

In Re Richard Kashfi
   Bankr. N.D. Calif. Case No. 11-57580
      Chapter 11 Petition filed August 12, 2011

In Re Frank Russo
   Bankr. M.D. Fla. Case No. 11-15266
      Chapter 11 Petition filed August 12, 2011

In Re Tracy Sunderlage
   Bankr. N.D. Ill. Case No. 11-83571
      Chapter 11 Petition filed August 12, 2011

In Re Hannastreet, LLC
   Bankr. S.D. Ind. Case No. 11-10220
      Chapter 11 Petition filed August 12, 2011
         See http://bankrupt.com/misc/insb11-10220.pdf

In Re Stephen Bonifield
   Bankr. S.D. Ind. Case No. 11-10222
      Chapter 11 Petition filed August 12, 2011

In Re Russell Tarter
   Bankr. S.D. Ind. Case No. 11-10223
      Chapter 11 Petition filed August 12, 2011

In Re SBT Enterprises, LLC
        dba Steve-O's Italian Kitchen
   Bankr. W.D. Ky. Case No. 11-33950
      Chapter 11 Petition filed August 12, 2011
         See http://bankrupt.com/misc/kywb11-33950.pdf

In Re Gregory Everett
   Bankr. W.D. La. Case No. 11-51175
      Chapter 11 Petition filed August 12, 2011

In Re Interior Dimensions of New England, LLC
   Bankr. D. Mass. Case No. 11-17685
      Chapter 11 Petition filed August 12, 2011
         See http://bankrupt.com/misc/mab11-17685.pdf

In Re Kirk Seaman
      Rosemarie Seaman
   Bankr. D. Md. Case No. 11-26524
      Chapter 11 Petition filed August 12, 2011

In Re Fournier Trucking, Inc.
   Bankr. D. N.H. Case No. 11-13061
      Chapter 11 Petition filed August 12, 2011
         See http://bankrupt.com/misc/nhb11-13061.pdf

In Re Min Park
   Bankr. D. N.M. Case No. 11-13661
      Chapter 11 Petition filed August 12, 2011

In Re Town & Ranch Sandia Real Estate, LLC
   Bankr. D. N.M. Case No. 11-13645
      Chapter 11 Petition filed August 12, 2011
         See http://bankrupt.com/misc/nmb11-13645p.pdf
         See http://bankrupt.com/misc/nmb11-13645c.pdf

In Re The PDM Group, Inc.
   Bankr. E.D. Pa. Case No. 11-22149
      Chapter 11 Petition filed August 12, 2011
         See http://bankrupt.com/misc/paeb11-22149.pdf

In Re 275 Pleasant Valley Holdings Corp.
   Bankr. W.D. Pa. Case No. 11-25123
      Chapter 11 Petition filed August 12, 2011
         See http://bankrupt.com/misc/pawb11-25123.pdf

In Re Noemi Maldonado-Maldonad
   Bankr. D. Puerto Rico Case No. 11-06819
      Chapter 11 Petition filed August 12, 2011

In Re Bella Jewelry, Inc.
   Bankr. N.D. Texas Case No. 11-35167
      Chapter 11 Petition filed August 12, 2011
         See http://bankrupt.com/misc/txnb11-35167p.pdf
         See http://bankrupt.com/misc/txnb11-35167c.pdf

In Re C & G Investment Group, LLC
        dba C & G Technical Group
   Bankr. N.D. Texas Case No. 11-44611
      Chapter 11 Petition filed August 13, 2011
         See http://bankrupt.com/misc/txnb11-44611.pdf


In Re Andria Grable
   Bankr. C.D. Calif. Case No. 11-44527
      Chapter 11 Petition filed August 14, 2011

In Re Treesmith Enterprises, Inc.
   Bankr. C.D. Calif. Case No. 11-21394
      Chapter 11 Petition filed August 14, 2011
         See http://bankrupt.com/misc/cacb11-21394.pdf

In Re Phuong Mak
   Bankr. N.D. Calif. Case No. 11-32988
      Chapter 11 Petition filed August 14, 2011

In Re Moody Tire Service, Inc.
   Bankr. M.D. Ala. Case No. 11-32052
      Chapter 11 Petition filed August 15, 2011
         See http://bankrupt.com/misc/almb11-32052.pdf

In Re George Sherrod
   Bankr. N.D. Ala. Case No. 11-82810
      Chapter 11 Petition filed August 15, 2011

In Re Terry Lyons
   Bankr. N.D. Ala. Case No. 11-42118
      Chapter 11 Petition filed August 15, 2011

In Re David Roth
   Bankr. C.D. Calif. Case No. 11-19778
      Chapter 11 Petition filed August 15, 2011

In Re Joan Kincaid
   Bankr. C.D. Calif. Case No. 11-44749
      Chapter 11 Petition filed August 15, 2011

In Re Jose Alvarez
   Bankr. C.D. Calif. Case No. 11-19802
      Chapter 11 Petition filed August 15, 2011

In Re Maria Buttler
   Bankr. C.D. Calif. Case No. 11-44596
      Chapter 11 Petition filed August 15, 2011

In Re Arsenio Hipolito
   Bankr. E.D. Calif. Case No. 11-39844
      Chapter 11 Petition filed August 15, 2011

In Re Evaristo Rodriguez
   Bankr. N.D. Calif. Case No. 11-48722
      Chapter 11 Petition filed August 15, 2011

In Re Alco Concrete Pumping, Inc.
   Bankr. M.D. Fla. Case No. 11-12394
      Chapter 11 Petition filed August 15, 2011
         See http://bankrupt.com/misc/flmb11-12394.pdf

In Re Estaban Ruiz
   Bankr. M.D. Fla. Case No. 11-15365
      Chapter 11 Petition filed August 15, 2011

In Re Horizon Construction Management Services, LLC
   Bankr. M.D. Fla. Case No. 11-15340
      Chapter 11 Petition filed August 15, 2011
         See http://bankrupt.com/misc/flmb11-15340.pdf

In Re Leonard Wallace
   Bankr. D. Idaho Case No. 11-21077
      Chapter 11 Petition filed August 15, 2011

In Re Manuel Rojas
   Bankr. N.D. Ill. Case No. 11-33221
      Chapter 11 Petition filed August 15, 2011

In Re Ricky King
   Bankr. N.D. Ind. Case No. 11-13111
      Chapter 11 Petition filed August 15, 2011

In Re Lela Jenks
   Bankr. D. Kan. Case No. 11-12500
      Chapter 11 Petition filed August 15, 2011

In Re Kids Only III of Lafayette, LLC
   Bankr. W.D. La. Case No. 11-51178
      Chapter 11 Petition filed August 15, 2011
         See http://bankrupt.com/misc/lawb11-51178.pdf

In Re Jeffrey Sowada
   Bankr. D. Minn. Case No. 11-35227
      Chapter 11 Petition filed August 15, 2011

In Re Frank Bleuss
   Bankr. D. Nev. Case No. 11-52597
      Chapter 11 Petition filed August 15, 2011

In Re Mary Jayne Langan
   Bankr. D. Nev. Case No. 11-22892
      Chapter 11 Petition filed August 15, 2011

In Re Mary Holder Agency, Inc.
        dba Mary Holder Realtor Agency, Inc.
        fdba Better Homes and Gardens Real Estate Mary Holder
   Bankr. D. N.J. Case No. 11-34280
      Chapter 11 Petition filed August 15, 2011
         See http://bankrupt.com/misc/njb11-34280.pdf

In Re Lift Gym, Inc.
   Bankr. S.D.N.Y. Case No. 11-13896
      Chapter 11 Petition filed August 15, 2011
         See http://bankrupt.com/misc/nysb11-13896.pdf

In Re Lavern Berger
   Bankr. D. N.D. Case No. 11-30804
      Chapter 11 Petition filed August 15, 2011

In Re CWE Holdings Inc.
        dba DG Landcare Services
   Bankr. W.D. Wash. Case No. 11-19695
      Chapter 11 Petition filed August 15, 2011
         filed pro se

In Re Belle-Kirk Pacific Holdings, Inc.
        dba Fastsign Bellevue 106
   Bankr. W.D. Wash. Case No. 11-19706
      Chapter 11 Petition filed August 15, 2011
         See http://bankrupt.com/misc/wawb11-19706.pdf

In Re Kenneth Kottke
   Bankr. D. Wyo. Case No. 11-20906
      Chapter 11 Petition filed August 15, 2011


In Re Jean Nelson
   Bankr. C.D. Calif. Case No. 11-36280
      Chapter 11 Petition filed August 16, 2011

In Re Todd Nelson
   Bankr. C.D. Calif. Case No. 11-21492
      Chapter 11 Petition filed August 16, 2011

In Re Myrna Mapa
   Bankr. N.D. Calif. Case No. 11-48767
      Chapter 11 Petition filed August 16, 2011

In Re Arcade Lithographing Corp.
   Bankr. M.D. Fla. Case No. 11-15437
      Chapter 11 Petition filed August 16, 2011
         See http://bankrupt.com/misc/flmb11-15437.pdf

In Re Commercial Door International, Inc.
   Bankr. M.D. Fla. Case No. 11-15420
      Chapter 11 Petition filed August 16, 2011
         See http://bankrupt.com/misc/flmb11-15420.pdf

In Re Harden Supply, LLC
   Bankr. M.D. Fla. Case No. 11-15445
      Chapter 11 Petition filed August 16, 2011
         See http://bankrupt.com/misc/flmb11-15445.pdf

In Re Wade Craighead
   Bankr. N.D. Ga. Case No. 11-73765
      Chapter 11 Petition filed August 16, 2011

In Re I.C.X.C.N., Inc.
   Bankr. E.D. Mich. Case No. 11-62026
      Chapter 11 Petition filed August 16, 2011
         See http://bankrupt.com/misc/mieb11-62026.pdf

In Re Ricky Bell
   Bankr. S.D. Miss. Case No. 11-51864
      Chapter 11 Petition filed August 16, 2011

In Re Morris Winograd
   Bankr. D. N.J. Case No. 11-34387
      Chapter 11 Petition filed August 16, 2011

In Re Scott Blow
   Bankr. D. N.J. Case No. 11-34379
      Chapter 11 Petition filed August 16, 2011

In Re WRCC, LLC
   Bankr. D. N.M. Case No. 11-13700
      Chapter 11 Petition filed August 16, 2011
         See http://bankrupt.com/misc/nmb11-13700.pdf

In Re Bright Start Centers, Inc.
        dba Kiddie Academy
   Bankr. S.D.N.Y. Case No. 11-37339
      Chapter 11 Petition filed August 16, 2011
         See http://bankrupt.com/misc/nysb11-37339.pdf

In Re Schoonover Properties, LLC
   Bankr. S.D. Ohio Case No. 11-14996
      Chapter 11 Petition filed August 16, 2011
         See http://bankrupt.com/misc/ohsb11-14996.pdf

In Re Joon Associates, Inc.
        dba Trocadero Theatre
   Bankr. E.D. Pa. Case No. 11-16432
      Chapter 11 Petition filed August 16, 2011
         See http://bankrupt.com/misc/paeb11-16432.pdf

In Re Steambelly Holdings L.P.
   Bankr. E.D. Pa. Case No. 11-16426
      Chapter 11 Petition filed August 16, 2011
         See http://bankrupt.com/misc/paeb11-16426.pdf

In Re Victor Diaz Morales
   Bankr. D. Puerto Rico Case No. 11-06916
      Chapter 11 Petition filed August 16, 2011

In Re A.C.M. Home Health Services Inc.
        dba Fey Home Health Services
   Bankr. S.D. Texas Case No. 11-70504
      Chapter 11 Petition filed August 16, 2011
         See http://bankrupt.com/misc/txsb11-70504.pdf

In Re Jon Carpenter
   Bankr. W.D. Wash. Case No. 11-19741
      Chapter 11 Petition filed August 16, 2011

In Re Carpenter & Chase, LLC
   Bankr. D. Wyo. Case No. 11-20908
      Chapter 11 Petition filed August 16, 2011
         See http://bankrupt.com/misc/wyb11-20908.pdf


In Re Delmy Coto
   Bankr. D. Ariz. Case No. 11-23676
      Chapter 11 Petition filed August 17, 2011

In Re Don Stoll
   Bankr. D. Ariz. Case No. 11-23650
      Chapter 11 Petition filed August 17, 2011

In Re Huntley Associates LLC
   Bankr. C.D. Calif. Case No. 11-45135
      Chapter 11 Petition filed August 17, 2011
         See http://bankrupt.com/misc/cacb11-45135.pdf

In Re Ray Leung
   Bankr. C.D. Calif. Case No. 11-45032
      Chapter 11 Petition filed August 17, 2011

In Re Michael Silvas
   Bankr. N.D. Calif. Case No. 11-13062
      Chapter 11 Petition filed August 17, 2011

In Re Kathleen Wolf
   Bankr. D. Colo. Case No. 11-29593
      Chapter 11 Petition filed August 17, 2011

In Re Sammy Hotels, LLC
   Bankr. D. Colo. Case No. 11-29555
      Chapter 11 Petition filed August 17, 2011
         See http://bankrupt.com/misc/cob11-29555.pdf

In Re Marc Friedman
   Bankr. S.D. Fla. Case No. 11-32987
      Chapter 11 Petition filed August 17, 2011

In Re Payara International Corporation
   Bankr. S.D. Fla. Case No. 11-32955
      Chapter 11 Petition filed August 17, 2011
         filed pro se

In Re Robi Excavating Inc.
   Bankr. N.D. Ill. Case No. 11-83640
      Chapter 11 Petition filed August 17, 2011
         See http://bankrupt.com/misc/ilnb11-83640.pdf

In Re Robert Madden
   Bankr. D. Mass. Case No. 11-17805
      Chapter 11 Petition filed August 17, 2011

In Re Shoe Crave LLC
   Bankr. D. Md. Case No. 11-26839
      Chapter 11 Petition filed August 17, 2011
         See http://bankrupt.com/misc/mdb11-26839.pdf

In Re Wilma and the Messengers Ministries
   Bankr. E.D. Mo. Case No. 11-48778
      Chapter 11 Petition filed August 17, 2011
         See http://bankrupt.com/misc/moeb11-48778.pdf

In Re Mike Dougherty
   Bankr. D. Nev. Case No. 11-23060
      Chapter 11 Petition filed August 17, 2011

In Re NPX Corp.
   Bankr. D. Nev. Case No. 11-23065
      Chapter 11 Petition filed August 17, 2011
         filed pro se

In Re Fishbein Family, LLC
   Bankr. D. N.J. Case No. 11-34514
      Chapter 11 Petition filed August 17, 2011
         See http://bankrupt.com/misc/njb11-34514.pdf

In Re Glick Rentals, LLC
   Bankr. D. N.J. Case No. 11-34449
      Chapter 11 Petition filed August 17, 2011
         filed pro se

In Re 552 West 24th LLC
   Bankr. E.D.N.Y. Case No. 11-47104
      Chapter 11 Petition filed August 17, 2011
         filed pro se

In Re Sagamore Ventures LLC
   Bankr. E.D.N.Y. Case No. 11-75892
      Chapter 11 Petition filed August 17, 2011
         filed pro se

In Re Jarrett Millwork, Inc.
   Bankr. S.D.N.Y. Case No. 11-23661
      Chapter 11 Petition filed August 17, 2011
         See http://bankrupt.com/misc/nysb11-23661.pdf

In Re Donnaray Enterprises, LLC
        dba Broad River Coffee Company
   Bankr. W.D. N.C. Case No. 11-40516
      Chapter 11 Petition filed August 17, 2011
         See http://bankrupt.com/misc/ncwb11-40516.pdf

In Re Cookeville Marble and Granite, Inc.
   Bankr. M.D. Tenn. Case No. 11-08175
      Chapter 11 Petition filed August 17, 2011
         See http://bankrupt.com/misc/tnmb11-08175.pdf

In Re Dentis Sisson
   Bankr. W.D. Tenn. Case No. 11-12502
      Chapter 11 Petition filed August 17, 2011

In Re Railroad Storage & Drayage, Inc.
   Bankr. D. Utah Case No. 11-32033
      Chapter 11 Petition filed August 17, 2011
         See http://bankrupt.com/misc/utb11-32033.pdf

In Re Donald Ryals
   Bankr. S.D. Ala. Case No. 11-03332
      Chapter 11 Petition filed August 18, 2011

In Re Lone Cactus Holding Company LLC
   Bankr. D. Ariz. Case No. 11-23708
      Chapter 11 Petition filed August 18, 2011
         See http://bankrupt.com/misc/azb11-23708.pdf

In Re Nidia Almonte
   Bankr. D. Ariz. Case No. 11-23790
      Chapter 11 Petition filed August 18, 2011

In Re Raymond Gilmore
   Bankr. E.D. Ark. Case No. 11-15383
      Chapter 11 Petition filed August 18, 2011

In Re 1663 W 11th Place, LP
   Bankr. C.D. Calif. Case No. 11-45150
      Chapter 11 Petition filed August 18, 2011
         filed pro se

In Re David Velkoff
   Bankr. C.D. Calif. Case No. 11-45255
      Chapter 11 Petition filed August 18, 2011

In Re Dwight Bennett
   Bankr. E.D. Calif. Case No. 11-40155
      Chapter 11 Petition filed August 18, 2011

In Re Darletta Lloyd
   Bankr. N.D. Calif. Case No. 11-33046
      Chapter 11 Petition filed August 18, 2011

In Re MAC Distributing, Inc.
   Bankr. S.D. Ind. Case No. 11-81167
      Chapter 11 Petition filed August 18, 2011
         See http://bankrupt.com/misc/insb11-81167.pdf

In Re RDM Enterprises, Inc.
        dba DR STEREO
        dba Snowman Property Services, LLC
   Bankr. D. Maine Case No. 11-21211
      Chapter 11 Petition filed August 18, 2011
         See http://bankrupt.com/misc/meb11-21211.pdf

In Re National Equities of New York, Inc.
   Bankr. E.D.N.Y. Case No. 11-47163
      Chapter 11 Petition filed August 18, 2011
         See http://bankrupt.com/misc/nyeb11-47163.pdf

In Re SRS Property Investment, Inc.
   Bankr. M.D. Pa. Case No. 11-05758
      Chapter 11 Petition filed August 18, 2011
         See http://bankrupt.com/misc/pamb11-05758.pdf

In Re Edna Mattei Perez
   Bankr. D. Puerto Rico Case No. 11-06994
      Chapter 11 Petition filed August 18, 2011

In Re Daniel Ciolos
   Bankr. M.D. Tenn. Case No. 11-08214
      Chapter 11 Petition filed August 18, 2011

In Re Alexander McLaren
   Bankr. W.D. Wash. Case No. 11-19860
      Chapter 11 Petition filed August 18, 2011

In Re Luis Torres
   Bankr. E.D. Wis. Case No. 11-32748
      Chapter 11 Petition filed August 18, 2011

In Re Victory Temple Church Of 1st Born Intl.
   Bankr. E.D. Wis. Case No. 11-32822
      Chapter 11 Petition filed August 18, 2011
         See http://bankrupt.com/misc/wieb11-32822.pdf

In Re Armen Dallakian
   Bankr. C.D. Calif. Case No. 11-45302
      Chapter 11 Petition filed August 19, 2011

In Re Peter Calvo
   Bankr. S.D. Fla. Case No. 11-33197
      Chapter 11 Petition filed August 19, 2011

In Re Justin Kastens
   Bankr. D. Kan. Case No. 11-12567
      Chapter 11 Petition filed August 19, 2011

In Re Farmhouse Family Eatery, Inc.
   Bankr. E.D. Mich. Case No. 11-33913
      Chapter 11 Petition filed August 19, 2011
         See http://bankrupt.com/misc/mieb11-33913.pdf

In Re Outdoor Rooms by Design LLC
   Bankr. W.D. Mo. Case No. 11-61797
      Chapter 11 Petition filed August 19, 2011
         See http://bankrupt.com/misc/mowb11-61797.pdf

In Re Benson Podiatry Assoc. P.C.
   Bankr. D. Neb. Case No. 11-82117
      Chapter 11 Petition filed August 19, 2011
         See http://bankrupt.com/misc/neb11-82117.pdf

In Re Glenn York
   Bankr. D. Neb. Case No. 11-82114
      Chapter 11 Petition filed August 19, 2011

In Re Maxco, Inc.
   Bankr. D. Neb. Case No. 11-82113
      Chapter 11 Petition filed August 19, 2011
         See http://bankrupt.com/misc/neb11-82113.pdf

In Re Patrick Malloy
   Bankr. D. Neb. Case No. 11-82115
      Chapter 11 Petition filed August 19, 2011

In Re Richard Mercer
   Bankr. D. Nev. Case No. 11-23178
      Chapter 11 Petition filed August 19, 2011

In Re Circus Beach Partners Inc.
   Bankr. D. N.J. Case No. 11-34741
      Chapter 11 Petition filed August 19, 2011
         See http://bankrupt.com/misc/njb11-34741.pdf

In Re Claudio Meza
   Bankr. E.D.N.Y. Case No. 11-47197
      Chapter 11 Petition filed August 19, 2011

In Re Keith Hills
   Bankr. S.D.N.Y. Case No. 11-37365
      Chapter 11 Petition filed August 19, 2011

In Re Jones Body Shop, Inc.
   Bankr. M.D. N.C. Case No. 11-11280
      Chapter 11 Petition filed August 19, 2011
         See http://bankrupt.com/misc/ncmb11-11280.pdf

In Re Jeffrey Reynolds
   Bankr. D. Ore. Case No. 11-37242
      Chapter 11 Petition filed August 19, 2011

In Re Chicken Done Right, Inc.
        aka Hall's Honey Fried Chicken - Camp Wisdom
   Bankr. N.D. Texas Case No. 11-35252
      Chapter 11 Petition filed August 19, 2011
         See http://bankrupt.com/misc/txnb11-35252.pdf

In Re Comprehensive Obstetrics & Gynecology of Granbury, PA
   Bankr. N.D. Texas Case No. 11-20465
      Chapter 11 Petition filed August 19, 2011
         See http://bankrupt.com/misc/txnb11-20465.pdf

In Re Images Cosmetic and Laser Center, LLC
   Bankr. N.D. Texas Case No. 11-44718
      Chapter 11 Petition filed August 19, 2011
         See http://bankrupt.com/misc/txnb11-44718.pdf

In Re DSW Restaurant, Inc.
        aka Lipstick
   Bankr. S.D. Texas Case No. 11-37093
      Chapter 11 Petition filed August 19, 2011
         See http://bankrupt.com/misc/txsb11-37093.pdf

In Re Gregory Boldt
   Bankr. W.D. Wash. Case No. 11-19891
      Chapter 11 Petition filed August 19, 2011

In Re Elton Ellzey
   Bankr. N.D. Ill. Case No. 11-34104
      Chapter 11 Petition filed August 20, 2011

In Re Ramon Portela-Fernandez
   Bankr. D. Puerto Rico Case No. 11-07060
      Chapter 11 Petition filed August 20, 2011


In Re RCP Investments VII, LLC
   Bankr. M.D. N.C. Case No. 11-81358
      Chapter 11 Petition filed August 21, 2011
         See http://bankrupt.com/misc/ncmb11-81358p.pdf
         See  http://bankrupt.com/misc/ncmb11-81358c.pdf

In Re NCH Rocky Point, LLC
   Bankr. D. Ariz. Case No. 11-24065
      Chapter 11 Petition filed August 22, 2011
         See http://bankrupt.com/misc/azb11-24065.pdf

In Re Nenuca Ramirez
   Bankr. C.D. Calif. Case No. 11-45705
      Chapter 11 Petition filed August 22, 2011

In Re Wall Concepts, Inc.
   Bankr. D. Colo. Case No. 11-29941
      Chapter 11 Petition filed August 22, 2011
         See http://bankrupt.com/misc/cob11-29941p.pdf
         See http://bankrupt.com/misc/cob11-29941c.pdf

In Re Doug Larsen Construction, Inc.
   Bankr. D. Idaho Case No. 11-02567
      Chapter 11 Petition filed August 22, 2011
         See http://bankrupt.com/misc/idb11-02567.pdf

In Re Construction Due Diligence Inc.
   Bankr. M.D. Fla. Case No. 11-15743
      Chapter 11 Petition filed August 22, 2011
         See http://bankrupt.com/misc/flmb11-15743.pdf

In Re Fishbusterz Freight Company, LLC
   Bankr. S.D. Fla. Case No. 11-33382
      Chapter 11 Petition filed August 22, 2011
         See http://bankrupt.com/misc/flsb11-33382p.pdf
         See http://bankrupt.com/misc/flsb11-33382c.pdf

In Re Mark Marable
   Bankr. N.D. Ga. Case No. 11-23440
      Chapter 11 Petition filed August 22, 2011

In Re Rubin Schulman
   Bankr. N.D. Ga. Case No. 11-74229
      Chapter 11 Petition filed August 22, 2011

In Re George Sirack
   Bankr. N.D. Ill. Case No. 11-34297
      Chapter 11 Petition filed August 22, 2011

In Re Marche Design LLC
   Bankr. D. Kan. Case No. 11-41358
      Chapter 11 Petition filed August 22, 2011
         See http://bankrupt.com/misc/ksb11-41358.pdf

In Re Jaime Francisco
   Bankr. D. Mass. Case No. 11-17910
      Chapter 11 Petition filed August 22, 2011

In Re Joseph Cariglia
   Bankr. D. Mass. Case No. 11-43565
      Chapter 11 Petition filed August 22, 2011

In Re Victory Chapel Church Corporation
   Bankr. D. Mass. Case No. 11-17960
      Chapter 11 Petition filed August 22, 2011
         See http://bankrupt.com/misc/mab11-17960.pdf

In Re Victory Chapel Church Corporation
   Bankr. D. Mass. Case No. 11-43560
      Chapter 11 Petition filed August 22, 2011
         See http://bankrupt.com/misc/mab11-43560.pdf

In Re Danny Tate
   Bankr. S.D. Miss. Case No. 11-02935
      Chapter 11 Petition filed August 22, 2011

In Re Spyke L.L.C
        dba Randy Small Transportation
   Bankr. W.D. Mo. Case No. 11-43909
      Chapter 11 Petition filed August 22, 2011
         See http://bankrupt.com/misc/mowb11-43909.pdf

In Re Sandra Millard
   Bankr. D. Nev. Case No. 11-52679
      Chapter 11 Petition filed August 22, 2011

In Re Rachel Solomon
   Bankr. D. N.J. Case No. 11-35009
      Chapter 11 Petition filed August 22, 2011

In Re Dora Forbes
   Bankr. E.D. N.C. Case No. 11-06431
      Chapter 11 Petition filed August 22, 2011

In Re Andi-Zach, Inc.
         dba Skyline Chili
   Bankr. S.D. Ohio Case No. 11-15123
      Chapter 11 Petition filed August 22, 2011
         See http://bankrupt.com/misc/ohsb11-15123.pdf

In Re Thomas Rutter
   Bankr. W.D. Pa. Case No. 11-11371
      Chapter 11 Petition filed August 22, 2011

In Re Zandra Petway
   Bankr. M.D. Tenn. Case No. 11-08305
      Chapter 11 Petition filed August 22, 2011

In Re Mary Lou Clemmons FLP
   Bankr. D. Utah Case No. 11-32299
      Chapter 11 Petition filed August 22, 2011



                           *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers"
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors" Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Howard C. Tolentino, Joseph Medel C. Martirez, Denise
Marie Varquez, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R.
Villacampa, Sheryl Joy P. Olano, Carlo Fernandez, Christopher G.
Patalinghug, and Peter A. Chapman, Editors.

Copyright 2011.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
Beard at 240/629-3300.


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