TCR_Public/110831.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

           Wednesday, August 31, 2011, Vol. 15, No. 241

                            Headlines

3PEA INTERNATIONAL: Reports $59,700 Profit in 2nd Quarter
4KIDS ENTERTAINMENT: Accused of Underpaying 'Yu-Gi-Oh!' Royalties
ABCLD HOLDINGS: Files List of Two Largest Unsecured Creditors
ACCREDITED MEMBERS: Posts $640,300 Net Loss in 2nd Quarter
ALEXIS BELLINO: Threatens to Sue Mag Over Bankruptcy Report

ALLIED DEFENSE: Deregisters Unsold Securities
AMR CORP: Ticonderoga Analyst Revises Rating to "Neutral"
AMTRUST FINANCIAL: Bancorp Asks Court to Reject Plan Disclosures
ANCHOR BANCORP: Extends CRO's Employment for 1 Year
AQUILEX HOLDINGS: Posts $837,000 Net Loss in 2nd Quarter

AQUILEX HOLDINGS: Cut by Moody's to 'Caa2' on Low Income
ARCADIA RESOURCES: Voluntarily Delists Common Shares from NYSE
ARCHBROOK LAGUNA: Court Authorizes Loughlin as Committee Advisor
ARCHBROOK LAGUNA: Committee Retains Cooley LLP as Counsel
ARK DEVELOPMENT: Creditor BB&T Wants Disclosure Statement Denied

ARK DEVELOPMENT: Creditor to Foreclose, Seeks Dismissal Order
BANK OF AMERICA: U.S. Bank Sues Over Soured Countrywide Loans
BANNING LEWIS: Decision on Sale to Ultra Postponed to Sept. 13
SUMMIT BRANTLEY: Fails to Comply With Plan, Says U.S. Trustee
BARNES BAY: Amends Plan to Address U.S. Trustee's Objections

BEAR ISLAND: Files Chapter 11 Liquidation Plan
BEAR VALLEY: Wants Tenants to Turnover Rent to Maintain Property
BEARINGPOINT INC: Unsecured Creditors to Receive 3rd Distribution
BERNARD L. MADOFF: Trustee Fights to Keep UniCredit Suit Alive
BROADSTRIPE LLC: Wave Broadband Agrees to Buy All Assets

CANO PETROLEUM: Cancels Commodity Swap Contracts with Natixis
CD PETRO: Files for Chapter 7 Bankruptcy Protection
CHERRY HILL: Files for Chapter 11 Bankruptcy Protection
CHINA XINGBANG: Posts $510,700 Net Loss in 2nd Quarter
CIRCUIT CITY: Wins Court OK to Sell IP Assets for $6 Million

CIT GROUP: Moody's Rates Revolving Credit Facility at 'Ba3'
CITY OF CENTRAL FALLS: Files List of 20 Largest Unsec. Creditors
CNC DEVELOPMENT: UHY Vocation HK Raises Going Concern Doubt
COMMERCETEL CORP: Posts $466,100 Net Loss in 2nd Quarter
CONSHOHOCKEN COLLISION: Files for Chapter 7 Protection

CRAWFORD FURNITURE: Files for Chapter 11 Bankruptcy Protection
CUI GLOBAL: Stockholders OK 1-for-50 Reverse Stock Split
CULTURE MEDIUM: Madsen & Associates Raises Going Concern Doubt
CUMULUS MEDIA: Provides Procedures on Cash and Stock Elections
DIAMONDHEAD CASINO: Incurs $273,900 Net Loss in Q2 Ended June 30

DK AGGREGATES: Hires H. Kenneth Lefoldt, Jr., as Accountant
DREIER LLP: Trustee Settles Claims with 360 Networks for $40MM
DRYSHIPS INC: Buys Majority of OceanFreight Shares for $33.7-Mil.
DYNEGY INC: Douglas Hirsch Discloses 9.99% Equity Stake
DYNEGY INC: Unit Offers to Purchase Outstanding 9% Secured Bonds

E-DEBIT GLOBAL: Dismisses C&H as Accountants
EASTBRIDGE INVESTMENT: Posts $341,100 Net Loss in 2nd Quarter
EASTERN SECURITY: Reports $749,700 Net Income in 2nd Quarter
EINSTEIN MOOMJY: Meeting to Form Creditors Committee on Sept. 7
EMERALD CASINO: Trustee's Suit v. D&Os Survives Dismissal Bid

ENERGY EDGE: Earns $72,300 Net Income in 2nd Quarter
ENFIN ENTERPRISES: Case Summary & 10 Largest Unsecured Creditors
ENTREMED INC: Posts $1.7 Million Net Loss in Q2 Ended June 30
EPICEPT CORP: Files Form S-3, Registers $25MM Common Shares
ESTATE FINANCIAL: Bryan Cave Battles $100MM Malpractice Suits

EVERGREEN ENERGY: Inks Sales Agency Agreement with Lazard Capital
EVERGREEN SOLAR: Seeks to Employ Bingham McCutchen as Counsel
EVERGREEN SOLAR: Taps Hilco Industrial as Marketing & Sales Agent
EVERGREEN SOLAR: Taps Zolfo Cooper as Financial Advisor
FAITHSHARES CHRISTIAN: FaithShares Trust to Close & Liquidate Fund

FANNIE MAE: Funds Group Sues Conservator Over Recovery Limit
FELIX INVESTMENTS: GE Capital Obtains Stay Relief
FIRST BANKS: Posts $18 Million Net Loss in 2nd Quarter
FIRST MARINER: Awaits Results of NASDAQ Listing Appeal
FLOORS-2-GO: Goes Into Administration, Lays Off 354 Workers

FLURIDA GROUP: Reports $9,505 Net Income in 2nd Quarter
FRISCO PS: Case Summary & 20 Largest Unsecured Creditors
FUSION TELECOMMUNICATIONS: Borrows $47,000 from Marvin Rosen
G&S LIVINGSTON: Taps Kosher & Company as Accountant
G&S LIVINGSTON: Taps Stavitsky & Assoc. as Special Tax Counsel

G&S LIVINGSTON: Hires Connell Foley as Bankruptcy Counsel
G&S LIVINGSTON: Seeks to Employ Reed Smith as Tax Counsel
GALP GRAYRIDGE: Court Dismisses Chapter 11 Bankruptcy Case
GB HERNDON: Court Slows Down Planned Probe Against Bank
GELT PROPERTIES: Taps Eisenberg Gold as Special Counsel

GELT PROPERTIES: Taps Cohen And Foreman as Special Counsel
GENERAL MOTORS: New GM's $450MM UAW Dispute Headed to Michigan
GIORDANO'S ENTERPRISES: Firms Gauge Interest, Real Estate Assets
GIORDANO'S ENTERPRISES: Hilco to Sell 14 Restaurant Properties
GREENHOUSE HOLDINGS: Posts $975,600 Net Loss in 2nd Quarter

GREGORY INVESTMENTS: Case Summary & 5 Largest Unsecured Creditors
HALLWOOD ENERGY: Trustee Files $10M Loan Suit vs. Goldman Unit
HARRY & DAVID: Wins Confirmation of Plan of Reorganization
HART STORES: Gets Initial CCAA Order From Quebec Court
HD SUPPLY: To Sell All Interests in Plumbing Business to Hajoca

HEARUSA INC: Sale of Assets to Siemens Unit Approved
HERCULES OFFSHORE: Files Fleet Status Report as of Aug. 25
HERCULES OFFSHORE: Registers 5-Mil. Shares Under Incentive Plan
HORIZON LINES: To Exchange 4.25% Convertible Senior Notes
HOTEL AIRPORT: Taps Francisco Molina as Accountant

HUDSON HEALTHCARE: Creditors Protest Settlement With City
INDIANAPOLIS DOWNS: Exclusivity Period Extended Until Jan. 6
INNER CITY MEDIA: Shareholders Get 2% Stake Under Yucaipa Plan
INNKEEPERS USA: Sue Cerberus, Chatham Over Dead $1-Bil. Deal
INNKEEPERS USA: Cerberus Suit May Be Capped at $20 Million

INTERNATIONAL RARITIES: Files for Chapter 11 Bankruptcy
IRVINE SENSORS: Marcus Williams Resigns from Board of Directors
KEELEY AND GRABANSKI: Taps Kaler Doeling as Bankruptcy Counsel
KERZNER INT'L: Faces Sept. 9 Deadline to Pay $2.6-Bil. Debt
KEVIN WERRY: Court Rejects Bid to Hire Bauer & French

LA CORTEZ ENERGY: Reports $982,300 Net Income in 2nd Quarter
LA JOLLA: Inks 2nd Amendment Pact with Preferred Shares Holders
LAMBUTH UNIVERSITY: Univ. of Memphis Leasing Facilities This Year
LEHMAN BROTHERS: Court Sends Plan to Creditors for Voting
LIONS GATE: S&P Affirms B- Corp. Credit Rating; Outlook Positive

LOUISVILLE ORCHESTRA: Judge Stosberg Approves Chapter 11 Plan
LOUISVILLE ORCHESTRA: Cancels Concerts in Next 2 Months
LTS NUTRACEUTICALS: Posts $1.2-Mil. Net Loss in 2nd Quarter
LYMAN LUMBER: ABC Inc., Chetek Employer, Also in Chapter 11
MACCO PROPERTIES: Files List of 21 Largest Unsecured Creditors

MACCO PROPERTIES: Trustee Wants to Sell Real Property
MANISTIQUE PAPERS: 341(a) Creditors' Meeting Set on Sept. 15
MANISTIQUE PAPERS: Court OKs Garden City as Claims Agent
MARCO POLO: Taps Bracewell & Giulliani as Attorney
MARCO POLO: Taps Kurtzman Carson as Notice & Claims Agent

MARCO POLO: Committee Taps Blank Rome as Attorney
MARCO POLO: Can Pay $1.2 Mil. to Critical Vendors on Interim Basis
MARKET STREET: Wants Boxer Out of Escrow Account Distribution
MARKET STREET: Capital One Wants on Escrow Funds Release Method
MARKWEST ENERGY: Moody's Upgrades Corp. Family Rating to 'Ba2'

MAS TEC: Moody's Keeps Ba3 Corporate After Expanded Bank Credit
MATCHES INC: Reports $892,200 Net Income in 2nd Quarter
MAYVILLE DIE: Case Summary & 20 Largest Unsecured Creditors
MCC HUMBLE: Court Directs Removal of Maaco Signage
MCCLATCHY CO: Royal Bank Discloses 5.7% Equity Stake

MCDERMOTT INT'L: Moody's Affirms 'Ba1' Corporate Family Rating
MFJT LLC: Hearing on Cash Collateral Use Continued Until Oct. 25
MICHAELS STORES: Posts $10 Million Net Income in July 30 Quarter
MILLENNIUM GLOBAL: U.S. Court Recognizes Bermuda Case
MRA PELICAN: Court OKs Shraiberg Ferrara as Bankruptcy Counsel

MSR RESORT: Resigned Members Want Settlement Agreement Denied
NORTHCORE TECHNOLOGIES: Has "Speculative Buy" Rating from Byron
MTB BRIDGEPORT: WSAH, TV42 in Bridgeport, Files Ch. 11 to Sell
NTELOS HOLDINGS: S&P Affirms 'BB-' Corporate Credit Rating
NUTRITION 21: Case Summary & 12 Largest Unsecured Creditors

OMEGA NAVIGATION: HSH Nordbank Seeks Case Dismissal or Conversion
OMEGA NAVIGATION: Retains Bracewell & Giuliani as Counsel
ORDWAY RESEARCH: Converts Case to Chapter 7 Liquidation
PARKERVISION INC: Posts $3.5 Million Net Loss in Q2 Ended June 30
PAUL BRENNEKE: Files List of Four Largest Unsecured Creditors

PIEDMONT CENTER: Bankr. Administrator Wants Chapter 11 Trustee
PIERRE DEUX: Potential Buyers Has Until This Week to Submit Bids
PLATINUM RIDGE: Places Three Hotels on Auction Block
POINT BLANK: Inks Stalking Horse Asset Purchase Deal with Gores
PORTER BANCORP: Posts $40 Million Net Loss in 2nd Quarter

PUBLIC MEDIA: Two Directors Resign from Board
QR PROPERTIES: To Pay $7.5-Mil. to Webster Bank by Sept. 30
QUINCY MEDICAL: Selling Hospital to Steward Specialty for $38MM
QUINCY MEDICAL: P. Care Ombudsman Taps Madoff & Khoury as Counsel
QUINCY MEDICAL: Navigant Capital Approved as Financial Advisor

QUINCY MEDICAL: Sept. 1 Disclosure Statement Hearing Called Off
QUINCY MEDICAL: Suzanne Koenig Appointed as Patient Care Ombudsman
QUINCY MEDICAL: Wants to Amend APA to Reflect Steward's Best Bid
RETRO TELEVISION: Files for Bankruptcy Protection, Seeks Sale
RICE PETROLEUM: Files for Chapter 7 Bankruptcy Protection

RIDGE PARK: Can Use CSMC Cash Collateral Until Sept. 30
ROKAYOSA INC: Case Summary & 20 Largest Unsecured Creditors
RW LOUISVILLE: Hearing on Case Dismissal Continued Until Sept. 27
RW LOUISVILLE: Plan Confirmation Hearing Scheduled for Sept. 20
RWJ CRESTWOOD: Voluntary Chapter 11 Case Summary

RYLAND GROUP: To Wind Down Jacksonville and Dallas Operations
SEARCHMEDIA HOLDINGS: Appoints J. Lo. as Chief Operating Officer
SECUREALERT INC: Inks $8MM Loan & Security Pact with Sapinda UK
SHASTA LAKE: Amends Schedules of Assets of Assets and Liabilities
SHENGDATECH INC: Wants to Hire Alvarez & Marsal as CRO

SHENGDATECH INC: Files List of 23 Largest Unsecured Creditors
SOUTHWESTT GEORGIA: Files Plan, Unsecured Claims to Recover 3%
SPANISH TRAIL: Hopes to Generate Cash to Pay Operating Expenses
STONE SURFACES: Cash Collateral Use Extended Through Oct. 31
SUNNYVALE BUSINESS: Sec. 341 Creditors' Meeting Set for Sept. 13

SUNNYVALE BUSINESS: Taps Altfeld & Battaile as Counsel
SUNNYVALE BUSINESS: Hires First Dartmouth as Restructuring Advisor
SUPERIOR PROPERTY: Case Summary & 12 Largest Unsecured Creditors
TETON AIR: Files List of 20 Largest Unsecured Creditors
THAMES PRINTING: Plans to Respond Involuntary Petition by Sept. 21

TONYA LIGGION: Court Tosses Suit v. Branch Banking and Trust
UNITED COMMUNICATIONS: Posts $451,000 Net Loss in 2nd Quarter
UNITED GILSONITE: Can Hire Value Management as Valuation Advisor
UNITED GILSONITE: Wiss & Company Hired as Financial Advisor
UNIVERSAL BIOENERGY: Incurs $594,000 Net Loss in March 31 Qtr.

USG CORP: Subsidiary to Close Eight Add'l Distribution Branches
VENTANA HILLS: Montour to Get $1.4 Million in Back Property Taxes
VOICE ASSIST: Posts $3.0 Million Net Loss in 2nd Quarter
VU1 CORPORATION: Posts $1.8 Million Net Loss in 2nd Quarter
WAGSTAFF MINNESOTA: Committee May Challenge Liens Until Sept. 17

WAGSTAFF PROPERTIES: Terra Properties Ok'd as Affiliate's Broker
WHITEMUD RESOURCES: BIA Proposal Approved by Creditors
WOMEN'S APPAREL: To Sell Assets in Mid-September Public Auction
WOODS CANYON: Affiliates File Schedules of Assets and Liabilities
WORLD SURVEILLANCE: Incurs $2.5 Million Net Loss in 2nd Quarter

XYIENCE INC: Interlocutory Appeal Over $150MM Sanctions Bid Denied
YARNELL'S ICE: Files for Chapter 7 Bankruptcy Protection
ZOGENIX INC: Files Form S-1, Registers 12 Million Common Shares

* RealtyTrac: Foreclosure Sales Climb While Sale Prices Decline

* Ex-Kaye Scholer Atty Says Indictment May Prejudice Jury
* BDO and KPMG Confirm Sale of KPMG's Consumer Insolvency Practice
* Cohen & Grigsby Reaffirms Support of Arts Community

* Upcoming Meetings, Conferences and Seminars


                            *********


3PEA INTERNATIONAL: Reports $59,700 Profit in 2nd Quarter
---------------------------------------------------------
3Pea International, Inc., filed its quarterly report on Form 10-Q,
reporting net income of $59,656 on $665,033 of revenues for the
three months ended June 30, 2011, compared with a net loss of
$1,652 on $1.0 million of revenues for the same period last year.

The Company reported net income of $66,116 on $1.6 million of
revenues for the six months ended June 30, 2011, compared with a
net loss of $53,893 on $1.5 million of revenues for the comparable
period of 2010.

The Company's balance sheet at June 30, 2011, showed $3.6 million
in total assets, $6.7 million in total liabilities, and a
stockholders' deficit of $3.1 million.

Sarna & Company, in Thousand Oaks, Calif., expressed substantial
doubt about 3Pea International's ability to continue as a going
concern, following the Company's 2010 results.  The independent
auditors noted that the Company has suffered recurring losses from
operations.

A copy of the Form 10-Q is available at http://is.gd/Gqr4gL

Henderson, Nev.-based 3Pea International, Inc., is a transaction-
based solutions provider.  3PEA through its wholly owned
subsidiary 3PEA Technologies, Inc., focuses on delivering reliable
and secure payment solutions to help healthcare companies,
pharmaceutical companies and payers businesses succeed in an
increasingly complex marketplace.


4KIDS ENTERTAINMENT: Accused of Underpaying 'Yu-Gi-Oh!' Royalties
-----------------------------------------------------------------
Eric Hornbeck at Bankruptcy Law360 reports that the owners of the
rights to the popular "Yu-Gi-Oh!" Japanese manga told a New York
bankruptcy judge Monday that 4Kids Entertainment Inc. had
underpaid them royalties by over $4 million.

"This case at its core is about a betrayal of trust," Kyle C.
Bisceglie of Olshan Grundman Frome Rosenzweig & Wolosky LLP, an
attorney for TV Tokyo Corp. and Nihon Ad Systems Inc., during
opening arguments in the trial over royalty payments.

                    About 4Kids Entertainment

New York-based 4Kids Entertainment, Inc., dba 4Kids, is an
entertainment and media company specializing in the youth oriented
market, with operations in these business segments: (i) licensing,
(ii) advertising and media broadcast, and (iii) television and
film production/distribution.  The parent entity, 4Kids
Entertainment, was organized as a New York corporation in 1970.

The principal driver for filing the Chapter 11 cases is the need
to protect 4Kids' most valuable asset -- its rights under an
exclusive license relating to the popular Yu-Gi- Oh! ("YGO")
series of animated television programs -- from efforts by the
licensor, a consortium of Japanese companies, to allegedly
wrongfully terminate the license and force 4Kids out of business.

4Kids Entertainment, along with affiliates, filed for Chapter 11
bankruptcy protection (Bankr. S.D.N.Y. Lead Case No. 11-11607) on
April 6, 2011.  Kaye Scholer LLP is the Debtors' restructuring
counsel.  Epiq Bankruptcy Solutions, LLC, is the Debtors' claims
and notice agent.  BDO Capital Advisors, LLC, is the financial
advisor and investment banker.  EisnerAmper LLP fka Eisner LLP
serves as auditor and tax advisor.  4Kids Entertainment, Inc.,
disclosed $78,397,971 in assets and $86,515,395 in liabilities as
of the Chapter 11 filing.

On July 8, 2011, Tracy Hope Davis, the U.S. Trustee for Region 2,
appointed three members to the official committee of unsecured
creditors in the Chapter 11 cases.  Hahn & Hessen LLP serves as
counsel to the Committee.


ABCLD HOLDINGS: Files List of Two Largest Unsecured Creditors
-------------------------------------------------------------
ABCLD Holdings, LLC, has filed with the U.S. Bankruptcy Court for
the Northern District of Texas a list of its two largest unsecured
creditors.

Debtor's List of Two Largest Unsecured Creditors:

  Entity                          Nature of Claim     Claim Amount
  ------                          ---------------     ------------
American Realty Trust
1800 Valley View Lane, Suite 300
Dallas, TX 75234                        Note           $260,131.00

Dallas County Tax Office
John R. Ames, CTA
500 Elm Street                     2010 and 2011
Dallas, TX 75202                        taxes          $194,783.00

                       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.

According to its schedules, the Debtor disclosed $66,579,892 in
total assets and $40,454,914 in total debts.

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.


ACCREDITED MEMBERS: Posts $640,300 Net Loss in 2nd Quarter
----------------------------------------------------------
Accredited Members Holding Corporation filed its quarterly report
on Form 10-Q, reporting a net loss of $640,314 on $420,965 of
revenue for the three months ended June 30, 2011, compared with a
net loss $187,536 on $772,885 of revenue for the same period last
year.

The Company reported a net loss of $993,427 on $1.0 million of
revenue for the six months ended June 30, 2011, compared with a
net loss of $718,027 on $1.0 million of revenue for the same
period of 2010.

The Company's balance sheet at June 30, 2011, showed $4.2 million
in total assets, $2.2 million in total liabilities, and
stockholders' equity of $2.0 million.

As reported in the TCR on April 12, 2011, GHP Horwath, P.C., in
Denver, expressed substantial doubt about Accredited Members
Holding's ability to continue as a going concern, following the
Company's 2010 results.  The independent auditors noted that the
Company reported a net loss of approximately $2,600,000 and used
net cash in operating activities of approximately $2,100,000 in
2010, and has an accumulated deficit of approximately $4,200,000
at Dec. 31, 2010.

A copy of the Form 10-Q is available at http://is.gd/q8ziC5

                    About Accredited Members

Accredited Members Holding Corporation (OTC BB: ACCM)
was not, until Feb. 24, 2010, involved in active business
operations and instead sought to engage in the exchange of real
estate properties between individuals through the use of Section
1031 of the Internal Revenue Code.  The Company's name was Across
America Real Estate Exchange until May 11, 2010, when it was
changed to Accredited Members Holding Corporation.

The Company currently provides various services and products both
directly and through its subsidiary corporations Accredited
Members, Inc. ("AMI"), AMHC Managed Services and World Wide
Premium Packers, Inc. ("WWPP").

AMI offers a range of free and paid subscription services to
individual investors who purchase memberships to the Company, as
well as to companies that pay AMI to participate in its services
and programs aimed to help those companies improve their
investment relations and increase their market exposure.

World Wide Premium Packers, Inc., engages in processing and
distribution of meat products.

AMHC Managed Services provides management services to third
parties, including services typically provided by executive level
personnel on a fixed-contract basis.


ALEXIS BELLINO: Threatens to Sue Mag Over Bankruptcy Report
-----------------------------------------------------------
Reality Tea reports that Real Housewives of Orange County star
Alexis Bellino is threatening to sue In Touch Weekly magazine
after it branded her as being broke and "bankrupt" on the cover of
a recent issue.

Reality Tea, citing TMZ, said an article in the mag read,
"Bankrupt! Evicted! Foreclosed! Housewives Are Going Broke."  The
article continued, "After selling off her home at a fraction of
its cost to avoid foreclosure, Alexis Bellino still refuses to
admit she and her husband . . . . have money troubles."

TMZ said Ms. Bellino's lawyer has sent a cease and desist letter
to the mag demanding In Touch retract its "patent, malicious, and
libelous comments."  TMZ added that In Touch has yet to respond to
the letter.

The Bellinos were facing foreclosure of their 6,400-square foot,
6-bedroom home in Newport Beach earlier this year but the bank
lender, JPMorgan Chase, decided to cancel the auction scheduled
for Feb. 10, 2011.

Reality Tea notes Jim Bellino also placed one of his businesses in
Chapter 11 bankruptcy.


ALLIED DEFENSE: Deregisters Unsold Securities
---------------------------------------------
The Allied Defense Group, Inc., filed with the U.S. Securities and
Exchange Commission a Post-Effective Amendment No. 1 to its
Registration Statement on Form S-3 filed on Dec. 4, 2002, as
amended on Feb. 7, 2003, relating to the resale of up to 999,959
shares of the Company's common stock issued in connection with two
acquisition transactions and issuable upon conversion of a
convertible debenture and exercise of a stock purchase warrant.
The Company amended the Registration Statement to deregister all
securities registered but remained unsold, if any, under the
Registration Statement and to terminate the effectiveness of the
Registration Statement.

The Company also filed Post-Effective Amendment No. 1 to these
Form S-8 registration statements:

   (a) 225,000 shares of the Company's common stock for issuance
       under the Allied Research Corporation 1997 Incentive Stock
       Plan, filed with the SEC on March 20, 1998 to;

   (b) 240,000 shares of the Company's common stock for issuance
       under the Allied Research Corporation 2001 Equity Incentive
       Plan filed with the SEC on June 27, 2001; and

   (c) 500,000 shares of the Company's common stock for issuance
       under the 2001 Equity Incentive Plan, filed with the SEC on
       on June 20, 2003.

The Company filed the amendment to deregister all securities
registered but remained unsold and to terminate effectiveness of
these Registration Statements.

                    About The Allied Defense Group

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

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

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

               Plan of Dissolution and Liquidation

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

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

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


AMR CORP: Ticonderoga Analyst Revises Rating to "Neutral"
---------------------------------------------------------
Avi Salzman at BARRON'S reports that Ticonderoga Securities
analyst James Higgins raised his rating on AMR, the parent company
of American Airlines, to "Neutral" from "Sell" as he believes the
stock is unlikely to fall much farther.  AMR stock is down below
$4 and a bigger drop would presage talk of Chapter 11 bankruptcy,
which Mr. Higgins thinks is unlikely.

"In our view, there are far better opportunities in this beaten-
down group, but with ample cash and a scant $1.1 billion in equity
market value representing only 6% of adjusted enterprise value, we
believe the reward/risk outlook for the shares is close to even."

Mr. Higgins also thinks AMR's decision to buy 460 new Boeing 737
planes is a good one because it will make the fleet much more fuel
efficient and lead to lower maintenance costs.

To be sure, AMR is not an overlooked gem -- the Company's results
have been just short of abysmal lately.  Also, AMR has much higher
labor costs than other airlines and will probably grow capacity in
coming months while other airlines cut capacity, Mr. Higgins
writes.

"Yet, the stock has been by far the weakest performer in the group
(which is indeed saying something) having fallen 58% so far this
year versus a 32% drop in the Amex Airline Index and mere 6% lower
S&P 500.  We believe there is a price for everything and, absent
insolvency, view AMR shares at about $3 as having reached
valuational equilibrium."

The Aug. 29 report notes shares rose 7.4% to $3.50.

                       About AMR Corporation

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

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

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

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

                           *     *     *

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

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


AMTRUST FINANCIAL: Bancorp Asks Court to Reject Plan Disclosures
----------------------------------------------------------------
The Bancorp Bank, an online bank holding $2.3 million in AmFin
Financial Corp. securities, is urging the bankruptcy court to
reject the latest disclosure statement explaining AmFin's Chapter
11 plan.

Bancorp Bank, according to Law360, renewed objections it raised to
AmFin's previous disclosure statement and said the latest version
did nothing to remedy sweeping releases in the Chapter 11 plan
that would extinguish potential claims against insiders and
executives who allegedly lied about its risky lending practices.

According to BankruptcyData.com, the objection asserts, "Bancorp
believes that the Debtors and their insiders/and or agents,
including certain officers and directors, caused AmTrust Bank to
make a large volume of extremely high risk, no-documentation loans
known as Alt-A loans (often referred to as 'liar loans').  Bancorp
believes the Debtors and their principals and/or their insiders
and agents, including certain officers and directors, knowingly
and/or recklessly failed to disclose material facts regarding,
among other things, the riskiness of the Alt-A loans, the
inadequacy of AmTrust Bank's loss reserves and the consequent
undercapitalization of AmTrust Bank, thereby misleading investors,
including Bancorp, which acquired and held securities on the basis
of false and misleading information."

                     About AmTrust Financial

AmFin Financial Corporation, formerly AmTrust Financial
Corporation, (PINK: AFNL) was the owner of the AmTrust Bank.
AmTrust was the seventh-largest holder of deposits in South
Florida, with $4.7 billion in deposits and 21 branches.

In November 2008, the Office of Thrift Supervision issued a cease
and desist order requiring AmTrust to improve its capital ratios.

AmTrust Financial, together with affiliates that include AmTrust
Management Inc., filed for Chapter 11 bankruptcy protection
(Bankr. N.D. Ohio Case No. 09-21323) on Nov. 30, 2009.  The debtor
subsidiaries include AmFin Real Estate Investments, Inc., formerly
AmTrust Real Estate Investments, Inc. (Case No. 09-21328).

G. Christopher Meyer, Esq., Christine M. Piepont, Esq., and Sherri
L. Dahl, Esq., at Squire Sanders & Dempsey (US) LLP, in Cleveland,
Ohio; and Stephen D. Lerner, Esq., at Squire Sanders & Dempsey
(US) LLP, in Cincinnati, Ohio, serve as counsel to the Debtors.
Kurtzman Carson Consultants serves as claims and notice agent.
Attorneys at Hahn Loeser & Parks LLP serve as counsel to the
Official Committee of Unsecured Creditors.  AmTrust Management
estimated $100 million to $500 million in assets and liabilities
in its Chapter 11 petition.

AmTrust Bank was not part of the Chapter 11 filings.  On Dec. 4,
2009, AmTrust Bank was closed by regulators and the Federal
Deposit Insurance Corporation was named receiver.  New York
Community Bank, in Westbury, New York, assumed all of the deposits
of AmTrust Bank pursuant to a deal with the FDIC.


ANCHOR BANCORP: Extends CRO's Employment for 1 Year
---------------------------------------------------
Anchor Bank fsb renewed its employment agreement with Martha Hayes
for an additional one-year period through July 31, 2012.  The
other terms and conditions of the employment agreement remain
unchanged.

Under the terms of the employment agreement, Ms. Hayes serves the
Bank as its Chief Risk Officer, reporting directly to the Bank's
President and Chief Executive Officer.  Her salary is $432,000 per
year, and she is entitled to the benefits provided to employees
with a similar job title and job classification and is eligible to
receive those other benefits including stock options and
restricted stock as is authorized and approved by the Board.  If
Ms. Hayes voluntarily resigns, she is required to provide the Bank
with 30 days advance written notice.  If she resigns or is
terminated for any reason, her salary may be continued for a
period of up to an additional 30 days if during that period she
assists the Bank in the winding up and transitioning of her
duties.

                        About Anchor Bancorp

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

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

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

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


AQUILEX HOLDINGS: Posts $837,000 Net Loss in 2nd Quarter
--------------------------------------------------------
Aquilex Holdings LLC filed its quarterly report on Form 10-Q,
reporting a net loss of $837,000 on $117.1 million of revenues for
the three months ended June 30, 2011, compared with a net loss of
$12.6 million on $105.7 million of revenues for the same period
last year.

The Company reported a net loss of $13.9 million on $226.6 million
of revenues for the six months ended June 30, 2011, compared with
a net loss of $25.1 million on $213.3 million of revenues for the
same period of 2010.

The Company's balance sheet at June 30, 2011, showed
$670.5 million in total assets, $490.9 million in total
liabilities, and stockholders' equity of $179.6 million.

The Company's Credit Agreement requires it to maintain certain
financial ratios, including a minimum ratio of Adjusted EBITDA to
total interest expense and maximum ratios of total debt and senior
secured debt to Adjusted EBITDA.

"While the Company was in compliance with its debt covenants as of
June 30, 2011, based on current business conditions and forecast,
there can be no assurance that the Company will be in compliance
with those covenants as of Sept. 30, 2011, or thereafter," the
Company said in the filing.

"The Company expects to approach the lenders under its Credit
Agreement to seek a waiver of compliance with its financial
covenants for the twelve months ended Sept. 30, 2011, and it may
be required to seek additional waivers or a forbearance or
amendment.  There can be no certainty that any such waiver,
amendment or forbearance will be forthcoming."

"The Company's principal shareholder is also entitled to exercise
an equity cure right under the Credit Agreement to address certain
financial covenant breaches, although it is uncertain if the
Company's principal shareholder would exercise an equity cure
right."

"If the Company does not meet its financial covenants and is
unable to obtain a waiver, amendment or forbearance, and if no
equity cure right is available and exercised, there would be an
event of default under its Credit Agreement which would allow its
lenders to accelerate the amounts it owes under the Credit
Agreement or avail themselves of other remedies under the Credit
Agreement, including foreclosure on the collateral securing its
debt.  An acceleration of its Credit Facility debt also would
cause an event of default under, and permit acceleration of, the
Company's senior notes.  Any failure to meet debt service or any
breach of its debt covenants would likely have a material adverse
effect on the Company's financial condition."

The Company says the foregoing would raise substantial doubt about
its ability to continue as a going concern.

A copy of the Form 10-Q is available at http://is.gd/c75YHU

Aquilex Holdings LLC is the parent of Aquilex Corporation, a
leading provider of critical maintenance, repair and industrial
cleaning solutions to the energy industry. Through our divisional
and branch offices in the United States and Europe, we provide our
services to a diverse global base of over 600 customers, primarily
in the oil and gas refining, chemical and petrochemical
production, fossil and nuclear power generation and waste-to-
energy industries.


AQUILEX HOLDINGS: Cut by Moody's to 'Caa2' on Low Income
--------------------------------------------------------
Moody's Investors Service has lowered the ratings of Aquilex
Holdings, LLC, including the corporate family to Caa2 from B3. The
rating outlook remains negative.

RATINGS RATIONALE

The downgrade considers the company's low operating income and
weakening liquidity profile. During 2011 a cash operating deficit
developed because of persistent operating inefficiencies and
because a key foreign customer, who owes more than $10 million,
began slowing payments. Aquilex currently holds about $35 million
in cash but its revolving credit line is fully drawn and the cash
on hand may not sufficiently cover seasonal working capital needs
that typically rise in the October-November period, when energy
customers routinely buy maintenance services from Aquilex. Beyond
a near-term cash shortfall risk, an extended period of financial
ratio covenant relief will probably also be required. Continuing
economic softness, competition and cost management problems are
depressing earnings and making compliance with the first-lien
credit facility's scheduled financial ratio covenant tests
doubtful. A first-time speculative grade liquidity rating of SGL-
4, denoting the weak liquidity profile, has been assigned.

The rating outlook remains negative because a sluggish economy
will probably continue limiting overall industrial maintenance and
plant improvement volumes that drive Aquilex's revenues. Although
a business restructuring effort within Aquilex's Industrial
Cleaning Services segment is underway, the effort seems ill-timed
and Moody's expects that lower margin levels demonstrated in H1-
2011 will probably continue into 2012. Without earnings growth the
capital structure could become untenable despite low debt
maturities scheduled near term.

Should the liquidity situation not soon improve the ratings may
further decline. Outlook stabilization would depend on
stabilization of the liquidity outlook, including expectation of
ongoing covenant compliance. Higher ratings would additionally
require higher earnings with operating profit margin above 7%,
debt to EBITDA falling below 6x, and EBIT to interest approaching
1x; a development that Moody's considers unlikely in the near
term.

Rating actions:

Corporate family, lowered to Caa2 from B3

Probability of default, lowered to Caa2 from B3

$50 million gtd first-lien revolver due April 2015, lowered to B3
LGD3, 31% from Ba3 LGD2, 19%

$163 million gtd first-lien term loan due April 2016, lowered to
B3 LGD3, 31% from Ba3 LGD2, 19%

$225 million gtd 11.125% senior unsecured notes due December 2016,
lowered to Caa3 LGD5, 84% from Caa1 LGD5, 75%

Speculative grade liquidity, assigned SGL-4

Outlook, negative

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

Aquilex Holdings, LLC, headquartered in Atlanta, Georgia, is a
provider of service, repair and overhaul services, and industrial
cleaning services to the energy and power generation sectors.
Revenues for the last twelve months ended June 30, 2011 were
approximately $475 million.


ARCADIA RESOURCES: Voluntarily Delists Common Shares from NYSE
--------------------------------------------------------------
Arcadia Resources, Inc., notified the U.S. Securities and Exchange
Commission regarding the voluntary removal of its common stock
under the NYSE Amex.

                      About Arcadia HealthCare

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

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

The Company reported a net loss of $14.35 million on
$100.04 million of revenues for the fiscal year ended March 31,
2011, compared with a net loss of $31.09 million on $98.08 million
of revenues for the fiscal year ended March 31, 2010.

BDO USA, LLP, in Troy, Michigan, expressed substantial doubt about
Arcadia Resources' 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.


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

The Debtors' estates will pay ArchBrook Laguna based on the firm's
hourly rates:

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

                     About ArchBrook Laguna

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

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

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

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

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

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


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

As the Committee's counsel, Cooley will:

   a) attend the meetings of the Committee;

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

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

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

   e) confer with the Debtors.

The Debtors' estates will pay Cooley LLP based on an hourly basis
according to these rates:

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

                     About ArchBrook Laguna

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

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

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

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

Loughlin Meghji + Company is the Creditors Committee's financial
advisor.

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


ARK DEVELOPMENT: Creditor BB&T Wants Disclosure Statement Denied
----------------------------------------------------------------
Branch Banking and Trust Company, asks the U.S. Bankruptcy Court
for the Southern District of Florida to deny the Disclosure
Statement explaining Ark Development/Oceanview, LLC's Chapter 11
Plan, and dismiss its bankruptcy case.

BB&T is a North Carolina banking corporation, as successor-in-
interest to Colonial Bank by asset acquisition from the FDIC as
receiver for Colonial Bank.

According to BB&T, the approval of the Disclosure Statement will
only harm the estate and its creditors, because the approval will
be followed by a time-consuming and expensive solicitation process
and confirmation hearings.  The expense will be borne by the
creditors and not those who stand to benefit the most from the
Plan as proposed.

BB&T notes that the Disclosure Statement, among other things:

   -- lack adequate information required by section 1125 of the
      Bankruptcy Code; and

   -- describes a Reorganization Plan that is not confirmable.

                             The Plan

As reported in the Troubled Company Reporter on July 28, 2011, the
Plan designates six Classes of Claims and one Class of
Interests:

Class 1. Allowed Secured Claim of Broward County Revenue Collector
Class 2. Allowed Secured Claim of RADC/CADC.
Class 3. Allowed Secured Claim of BB&T
Class 4. Allowed Secured Claim of Northern Trust
Class 5. Allowed Secured Claims of the Mechanic Lienholders
Class 6. Allowed General Unsecured Claims
Class 7. Allowed Equity Interests.

All Classes are Impaired under the Plan.

Class 1 Claimholders will receive equal monthly payments, of
principal and interest, commencing on the Effective Date, with
interest at 5% per annum, over a period not to exceed five years.

RADC/CADC, which holds the first position mortgage on the 1423
Property, and is owed $3,150,000, will be paid monthly interest
only payments on the 20th of each month at a rate of one (1)
percentage point over the prime rate (i.e., monthly payment of
$11,156.25), over a period of 60 months.  RADC/CADC will receive a
balloon payment of $3,150,000 at the end of the 60-month period,
or the Debtor will abandon the property to the lender or consent
to the entry of a foreclosure judgment in favor of the lender.

BB&T, which holds the first position mortgage on the 1427
Property, and is owed approximately $3,300,000, will be paid
monthly interest only payments on the 20th of each month at a rate
of one percentage point over the prime rate (i.e., monthly payment
of $11,687), over a period of 24 months.

Thereafter, BB&T will be paid principal and interest monthly
payments for the following 36 months, amortized over 25 years at a
rate of one percentage point over prime (i.e, monthly payment of
$17,877).  BB&T will receive a balloon payment of approximately
$2,887,009 at the end of the 60 month period, or the Debtor will
abandon the property to the lender or consent to the entry of a
foreclosure judgment in favor of the lender.

Northern Trust which holds the mortgage on the 1431 Property, and
is owed approximately $3,018,347, plus a per diem of $594
thereafter, plus reasonable costs and attorneys' fees, has agreed
to vote in favor of the Plan filed by the Debtor so long as the
treatment of Northern Trust's Secured Claim is consistent with the
terms of the stipulation between the Debtor and Northern Trust
resolving their disputes regarding the debt owed to Northern
Trust.

Under the Agreement, the Debtor will remain in possession and
control of the 1431 Property for six months from the date of the
final order approving the Agreement.

Prior to the expiration of the six months period, the Debtor will
use its best efforts to effectuate a sale of the 1431 Property.
Until such time as the 1431 Property is sold, the Debtor will make
adequate protection payments to Northern Trust on a monthly basis
in the amount of $15,932 each, commencing on Aug. 1, 2011, until
the sale of the 1431 Property.

Mechanic Lienholders, owed approximately $230,094 in the
aggregate, will, in full satisfaction of their respective Allowed
Claims, receive a pro rata Distribution of $25,000, excluding
interest, paid in quarterly payments over a period of three years,
commencing 90 days of the Effective Date and will receive interest
on the amount of their Distribution at 2.5%.

Allowed General Unsecured Claims in Class 6 will, in full
satisfaction of their respective Allowed Claims, receive a pro
rata Distribution of $25,000, excluding interest, paid in
quarterly payments over a period of three years, commencing 90
days of the Effective Date and will receive interest on the amount
of their Distribution at 2.5%.

Other than retaining their Equity Interests in the Debtor, the
holders of Allowed Equity Interests in Class 7 will not be
entitled to receive any Distribution under the Plan on account of
such Equity Interests.  In exchange for agreeing to waive the
amounts owed to Joseph Kodsi and for financing the payments under
the Plan, Joseph Kodsi will continue to own 50% of the Reorganized
Debtor and Isaac Kodsi will continue to own 50% of the Reorganized
Debtor.

A copy of the Disclosure Statement is available at:

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

BB&T is represented by:

         W. Glenn Jensen, Esq.
         Alan J. Perlman, Esq.
         David J. Lienhart, Esq.
         ROETZEL & ANDRESS
         420 South Orange Avenue
         CNL II, 7th Floor
         Orlando, FL 32801
         Tel: (407) 896-2224
         Fax: (407) 835-3596
         E-mail: gjensen@ralaw.com
                 aperlman@ralaw.com
                 dlienhart@ralaw.com

                       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.  The Debtor disclosed $12,017,522 in
assets and $11,794,591 in liabilities as of the Chapter 11 filing.

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


ARK DEVELOPMENT: Creditor to Foreclose, Seeks Dismissal Order
-------------------------------------------------------------
Northern Trust N.A., a creditor in the Chapter 11 case of Ark
Development/Oceanview, LLC, asks the U.S. Bankruptcy Court for the
Southern District of Florida to:

   a) grant Northern relief from any stay, including but not
      limited to the stay otherwise applicable under Sec. 105 and
      362 of the Bankruptcy Code, in order that Northern may
      foreclose on and cause the property to be sold pursuant to a
      Court order, and to take any other actions necessary or
      appropriate under the loan documents;

   b) require the Debtor to abandon the collateral peacefully to
      Northern within five days of the entry of the order; and

   c) confirm the dismissal of the case and the abstention by the
      Court as to the property.

Northern notes that to date, Northern has not received the
adequate protection payment of $15,931, and therefore the default
was not timely cured.

As reported in the Troubled Company Reporter on July 29, 2011, the
Debtor and Northern entered into an agreement, granting adequate
protection, relief from stay, abstention and dismissal of case.

Northern Trust holds valid and perfected security interests and
secured claims.  As of April 22, 2011, Northern Trust holds a
claim in the amount of $3,018,346 plus a per diem of $594
thereafter, plus reasonable costs and attorneys' fees.

Among other things, the settlement provides for:

   a. Except for sales rendered in the ordinary course of its
   business, and except as otherwise provided herein, the Debtor
   will not sell, transfer, lease, encumber or otherwise dispose
   of the property without the prior written consent of Northern
   Trust, which will not be unreasonably withheld, and no such
   consent will ever be implied from any other action, inaction or
   acquiescence by Northern Trust, unless the sale, transfer,
   lease, encumbrance or other disposition is approved by the
   Court.

   b. The Debtor will timely serve upon Northern Trust all
   pleadings and other documents filed in this Chapter 11 case,
   including monthly financial reports required by the United
   States Trustee's office, and will continue to supply to
   Northern Trust such reports as requested by Northern Trust.

   c. Northern Trust will have the right to inspect the Property
   from time to time using its designated engineer, architect or
   other construction consultants to ascertain that the budget
   appears to be adequate to complete the punch-list work and
   cleaning at the Property and Debtor will grant access to the
   property to Northern Trust and its designees upon reasonable
   advance notice of not more than 5 calendar days.

                     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.  The Debtor disclosed $12,017,522 in
assets and $11,794,591 in liabilities as of the Chapter 11 filing.

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


BANK OF AMERICA: U.S. Bank Sues Over Soured Countrywide Loans
-------------------------------------------------------------
Ruth Simon, writing for The Wall Street Journal, reports that the
U.S. Bank unit of U.S. Bancorp on Tuesday filed a lawsuit in New
York State Supreme Court against Bank of America Corp. to force
BofA to repurchase all the loans in a $1.75 billion mortgage bond
deal sold six years ago.  U.S. Bank's suit -- filed on behalf of
bond investors -- said the loans involving by Countrywide
Financial Corp. "began to become delinquent and default at a
startling rate" soon after they were sold.  The lawsuit alleges
that there was a "systemic failure" by Countrywide to comply with
underwriting guidelines and representations made to investors.
The suit said the investors face "irreparable harm" if BofA
doesn't repurchase the loans.  BofA acquired Countrywide in 2008.

The Journal relates the bond deal at issue in the U.S. Bank
lawsuit, HarborView Mortgage Loan Trust, Series 2005-10,
originally had 4,484 loans.  Forty-six percent of the 2,084
mortgages still in the pool have defaulted or were at least 60
days past due as of June 20, 2011, according to the lawsuit.

According to the Journal, the deal was packaged by Greenwich
Capital Financial Products, an affiliate of Royal Bank of Scotland
Group PLC.  The deal is one of a number involving Countrywide
loans that isn't covered by the proposed settlement with bond
investors and could be the subject of future actions, people
familiar with the matter say.  An RBS spokeswoman declined to
comment.

The Journal relates a spokesman for U.S. Bancorp said the bank
"filed the lawsuit in its role as trustee for the bond deal at the
direction of investors in the trust," but declined to comment
further because of the pending litigation.

The Journal also says a Bank of America spokesman said that, while
the bank is still reviewing the complaint, it doesn't believe
"existing contractual documents give U.S. Bank any right to demand
. . . the repurchase [of] loans on a pool-wide basis, nor do we
believe there is any basis in fact to demand a repurchase of every
loan in this securitization, the majority of which have either
paid off or are current."

The Journal recounts that BofA in June agreed to pay $8.5 billion
to settle claims brought by a group of high-profile investors,
including money-manager BlackRock Inc. and insurer MetLife Inc.,
that lost money on soured Countrywide bonds for which Bank of New
York Mellon Corp. was the trustee.   Attorneys general in New York
and Delaware and dozens of bond investors, including hedge funds,
banks, pension funds and insurers, have filed objections to the
settlement, or in many cases have told the court they need more
information to evaluate the proposed deal.  More than 20 filings
were made on Tuesday as a flurry of investors, including the
Federal Housing Finance Agency, the federal regulator overseeing
the government-backed mortgage investors Fannie Mae and Freddie
Mac, filed to intervene before the Aug. 30 deadline for investors
covered by that settlement to file objections to the deal.

The Journal notes the settlement, which is a key part of Bank of
America's attempt to put Countrywide's problems behind it, can't
proceed until a court rules on the objections. Before that
happens, a judge must decide which court will handle the case,
which objectors will be allowed to intervene and the scope of
discovery.

The settlement was reported in the July 1, 2011 edition of the
Troubled Company Reporter.

The Journal also reports that a judge has dismissed two lawsuits
against BofA over about $1.7 billion in notes held by BNP Paribas
SA and Deutsche Bank AG.  The notes were issued by Ocala Funding,
a special-purpose entity that provided short-term liquidity
funding to Taylor, Bean & Whitaker Mortgage Corp., which filed for
bankruptcy protection in August 2009.  BofA was the agent and
trustee for the notes.  The two banks could sue again if they
want, within the month.

                       About Bank of America

Based in Charlotte, North Carolina, Bank of America --
http://www.bankofamerica.com/-- is one of the world's largest
financial institutions.  The Company serves more than 59 million
consumer and small business relationships with more than 6,100
retail banking offices, nearly 18,700 ATMs and online banking with
nearly 29 million active users.  Following the acquisition of
Merrill Lynch in January 2009, BofA is among the world's leading
wealth management companies and is a global leader in corporate
and investment banking and trading across a broad range of asset
classes serving corporations, governments, institutions and
individuals around the world.  Bank of America offers support to
more than 4 million small business owners.  The Company serves
clients in more than 150 countries.  Bank of America Corporation
stock is a component of the Dow Jones Industrial Average and is
listed on the New York Stock Exchange.

BofA sought government backing in completing its acquisition of
Merrill Lynch.  Merrill Lynch & Co. Inc. -- http://www.ml.com/--
is a wealth management, capital markets and advisory companies
with offices in 40 countries and territories.

During the economic collapse in 2008, BofA received US$45 billion
in government bailout.

On June 17, 2011, 34 individuals sought to place Bank of America
N.A. in bankruptcy by filing an involuntary Chapter 11 petition
(Bankr. D. Colo. Case No. 11-24503).  The petitioners claimed to
be owed roughly $60 million in the aggregate.  The petitioners
identified themselves in the signature pages of the Chapter 11
petition as members of either the "Independent Rights Political
Party" or the "Independent Rights Party."  The petition was
dismissed later that month.


BANNING LEWIS: Decision on Sale to Ultra Postponed to Sept. 13
--------------------------------------------------------------
The Gazette reports that a bankruptcy court's decision on whether
Houston-based Ultra Resources can buy the majority of the massive
Banning Lewis Ranch in Colorado Springs -- where it wants to drill
for oil and gas -- has been postponed until Sept. 13, 2011.

According to the report, city of Colorado Springs and company
officials, meanwhile, said Friday they continue to negotiate a
settlement over disputed land-use issues related to Ultra's
purchase.

In a court filing last week, Ultra said its purchase of the
property was "at risk" if a deal was delayed.  On Friday, Whitley
said that stance has changed, and the company supports the
postponement.

The report notes Ultra's proposed purchase of 18,000 acres of the
21,500-acre ranch, and its desire to drill on the property, have
emerged as critical issues growing out of an October 2010 Chapter
11 bankruptcy filing in Delaware by the California-based owners of
the Banning Lewis Ranch.  Because of its size, the ranch holds the
key to decades of city residential and commercial growth.
Colorado Springs annexed the property in 1988, but it's gone
mostly undeveloped after a series of ownership changes.

The Gazette says, as part of the current owners' bankruptcy, the
ranch was auctioned in June.  Ultra submitted a winning bid of
$26.3 million for the lion's share of the ranch and announced it
wanted to drill for oil and gas on the property.  The company now
awaits the bankruptcy judge's approval of its purchase.

The Company has asked the judge to set aside an annexation
agreement and other land-used controls that were put in place to
govern the property's development; those controls are outdated and
would pose a burden on Ultra's operations, the company has argued.

City officials have countered in court filings that the controls
are needed to ensure the orderly development of the ranch and
surrounding property.  Kelly said Friday it's her understanding
the bankruptcy judge will not issue an order on Ultra's purchase
until the city and company settle their disagreements.

Ms. Kelly said she hopes an agreement with Ultra will mirror the
one the city reached with KeyBank National Association.  KeyBank
was a lender on the ranch, and was the winning bidder on a second,
2,400-acre parcel that makes up the far northern portion of the
ranch.

As part of its purchase, which the bankruptcy judge approved in a
hearing Wednesday, KeyBank agreed to have the annexation agreement
and other land-use controls apply to its property.

KeyBank bid $24.5 million, which will be credited against the $65
million it's owed by the ranch's owners.  It plans to sell the
land.

                         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.


SUMMIT BRANTLEY: Fails to Comply With Plan, Says U.S. Trustee
-------------------------------------------------------------
Lauren Foreman at the Jackson Sun reports that Jessamy Thomison,
the attorney representing the U.S. trustee for the Western
District of Tennessee, accuses Summit Brantley Building
Innovations of not complying with an approved plan to pay some of
the Company's creditors.

According to the report, the motion lists about six plan
violations that include failure to pay the approximately $75,000
to priority unsecured creditors and failure to pay quarterly fees
owed to the U.S. trustee by Wednesday.

"The Debtor's MORs (monthly operating reports) from November 2010
through June 2011 evidence that no payment has ever been received
by the Debtor from the Brantley Group, LLC," Ms. Foreman says,
citing papers filed with the Court.  It says $3,201.03 has been
paid to priority unsecured creditors but that no other "post-
confirmation distributions" are disclosed in Summit Brantley
monthly operating reports, she notes.

"To an even greater extent than stated in the U.S. Trustee's
earlier Motion, the Debtor has failed to comply with the terms of
its own Plan, and has materially defaulted on the terms of that
Plan," the motion stated

The report says Jerome Teel, Brantley's attorney, filed opposition
to the trustee's motion to convert the case from Chapter 11 to
Chapter 7, which could lead to liquidation of the company's
assets.  "The Debtor would oppose the Motion to Convert Chapter 11
Case to Chapter (7) filed by the U.S. Trustee," Teel's response
says.  "The Debtor wishes to complete his Chapter 11 case and is
bringing all outstanding reports and fees current."

The Jackson Sun notes that in November 2010, the U.S. Bankruptcy
Court for the Western District of Tennessee approved a plan that
would allow former workers to receive a portion of their owed
wages by the end of the 2010 year, Mr. Teel said in a past Jackson
Sun interview.

                   About Summit Brantley

Summit Brantley Building Innovations is a defunct Lexington-based
manufacturing company owned by Bardo Brantley.  The Company
manufactured exterior and interior wall panels and floor systems
for multi- and single-family homes and hotels.

Summit Brantley Building Innovations filed for Chapter 11
bankruptcy protection (Bankr. W.D. Tenn. Case No. 10-10234) on
Jan. 22, 2010.  The Company disclosed $811,190 in assets and
$1,238,558 in liabilities in its schedules.


BARNES BAY: Amends Plan to Address U.S. Trustee's Objections
------------------------------------------------------------
Barnes Bay Development Ltd. and its debtor affiliates filed with
the U.S. Bankruptcy Court for the District of Delaware a second
amended modified joint Chapter 11 plan of reorganization on
Aug. 19, 2011, to, among other things, address objections raised
by Roberta A. DeAngelis, U.S. Trustee for Region 3.

The U.S. Trustee complained that the releases and exculpation
provisions of the prior version of the Plan are too broad in scope
and include non-debtor third parties that are not otherwise
entitled to that relief.

The U.S. Trustee also complained that the prior Plan's
distribution scheme appears to differentiate improperly among
similarly situated claims.  Specifically, the U.S. Trustee pointed
out that, under the prior Plan, the unsecured claims among the
"PSA Claims" which are those unsecured claim arising out of the
rejection or termination of a Purchase and Sale Agreement for the
purchase of a residence property, are separated into three
"tiers."

Under the prior Plan, the distribution to Tier 1 PSA Claim's is
equal to 50% of the amount of the allowed claim, while the Tier 2
PSA Claims garner a distribution equal to 25% of the amount of the
allowed claim and Tier 3 PSA Claim's are allowed a distribution of
a mere 15% of the amount of the allowed claim.

The Plan Proponents, the U.S. Trustee complained, offer no
rational reason to differentiate among these similarly situated
unsecured claims.

The Aug. 19 Plan provides that each holder of an Allowed PSA Claim
(Tier 1) and (Tier 3) will be deemed to have elected the
Enforcement Option unless that Holder affirmatively elects either
the Purchase Option or the Cash Option.  Any Holder of an Allowed
PSA Claim (Tier 3) that elects either the Enforcement Option or
the Cash Option will retain Guaranty Claims, notwithstanding the
releases, injunctions and exculpation provisions.

A PSA Creditor electing the Enforcement Option may commence or
continue one or more PSA Enforcement Actions or asset any other
claim or cause of action relating to Claims against the Debtors
against any non-Debtor entity.  A PSA Creditor that is determined
by a court of competent jurisdiction to hold a valid, binding and
enforceable Lien on a Residential Property that is not junior to
the Liens of the Prepetition Lender will be treated as the Holder
of an Allowed Class 3 Other Secured Claim.

A PSA Creditor electing the Purchase Option may purchase a
residence property in lieu of receiving a PSA Claim Distribution.

A PSA Creditor electing the Cash Option will receive, in full and
complete satisfaction of its Allowed PSA Claim, the corresponding
PSA Claim Distribution, payable in Cash.

According to the Plan Proponents, the Purchase Option and the Cash
Option are offered for and in consideration of PSA Creditors'
willingness to accept and grant the injunctions and releases set
forth in the Plan.  Accordingly, for the avoidance of doubt, any
PSA Creditor electing either the Purchase Option or the Cash
Option will be deemed to consent to, and be bound by, the
injunctions and releases set forth in the Plan.  Conversely, any
PSA Creditor electing (or deemed by inaction to elect) the
Enforcement Option, will not be bound by the injunctions and
releases set forth in the Plan.

The Aug. 19 Plan provides that nothing in the Plan will operate to
enjoin or release the right of any PSA Creditor to assert Guaranty
Claims other than any PSA Creditor that elects the Purchase
Option.  Any Guaranty Claims held by a PSA Creditor electing the
Cash Option or the Enforcement Option are expressly preserved.

The Aug. 19 Plan further provides that nothing in the Plan will
(i) operate to release or exculpate (a) any Entity from or against
its obligations under the Plan, including the Buyer's obligation
to fund Distributions to be made under the Plan, or (b) any
obligations arising under the Indemnification Letter, nor (ii)
preclude or prevent (a) any PSA Creditor electing the Enforcement
Option or Cash Option from commencing and prosecuting any Guaranty
Claim or (b) any PSA Creditor electing the Enforcement Option from
commencing and prosecuting any one or more PSA Enforcement Actions
or asserting any other claim or cause of action, including
Guaranty Claims, relating to Claims against the Debtors against
any non-Debtor Entity.

                     Payment of Statutory Fees

The U.S. Trustee further complained that the provisions of the
prior Plan concerning the payment of statutory fees is
inconsistent with, contrary to, and violative of applicable law.

Under the Aug. 19 Plan, all fees incurred pursuant to Section 1930
of the Judiciary and Judicial Procedure Code on or prior to the
effective date of the Plan will be paid on or before the Effective
Date.  All fees incurred pursuant to Section 1930 after the
Effective Date will be paid by the Responsible Person from the
Distribution Fund.

A redlined version of the Aug. 19 Plan is available for free
at http://ResearchArchives.com/t/s?76be

                         About Barnes Bay

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

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

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


BEAR ISLAND: Files Chapter 11 Liquidation Plan
----------------------------------------------
Bear Island Paper Company, L.L.C., filed with the U.S. Bankruptcy
Court for the Eastern District of Virginia, Richmond Division, a
Chapter 11 plan of liquidation and an accompanying disclosure
statement on Aug. 24, 2011.

Hearing on the approval of the Disclosure Statement is scheduled
for Oct. 5, 2011, at 2:00 p.m.  The Confirmation Hearing is
scheduled for Nov. 22, at 2:00 p.m.  The deadline to file an
objection to the confirmation of the Plan and to vote to accept or
reject the Plan is on Nov. 14.

The Plan provides for the termination of the Debtor's business
operations and the liquidation of its assets.  Subject to the
rights of certain parties in interest to object to the allowance
and priority of claims, the Plan provides for the payment in full
to holders of Allowed Administrative Claims and Allowed Priority
Claims.  The Plan further provides for a recovery to holders of
Allowed General Unsecured Claims.

Full-text copies of the Plan and Disclosure Statement are
available for free at http://ResearchArchives.com/t/s?76c0

                 About White Birch & Bear Island

Canada-based White Birch Paper Company is the second-largest
newsprint producer in North America.  As of Dec. 31, 2009, the
White Birch Group held a 12% share of the North American newsprint
market and employed roughly 1,300 individuals (the majority of
which reside in Canada).  Bear Island Paper Company, L.L.C., is a
U.S.-based unit of White Birch.

Bear Island filed a voluntary petition for relief under Chapter 11
of the Bankruptcy Code (Bankr. E.D. Va. Case No. 10-31202) on
Feb. 24, 2010.  Bear Island estimated assets of $100 million
to $500 million and debts of $500 million to $1 billion in its
Chapter 11 petition.  At June 30, 2011, the Company had
$141.9 million in total assets, $153.2 million in total
liabilities, and a stockholders' deficit of $11.3 million.

White Birch filed for bankruptcy protection under Canada's
Companies' Creditors Arrangement Act, before the Superior Court
for the Province of Quebec, Commercial Division, Judicial District
of Montreal, Canada.  White Birch and five other affiliates --
F.F. Soucy Limited Partnership; F.F. Soucy, Inc. & Partners,
Limited Partnership; Papier Masson Ltee; Stadacona Limited
Partnership; and Stadacona General Partner, Inc. -- also sought
bankruptcy protection under Chapter 15 of the U.S. Bankruptcy Code
(Bankr. E.D. Va. Case No. 10-31234).

Jonathan L. Hauser, Esq., at Troutman Sanders LLP, in Virginia
Beach, Virginia; and Richard M. Cieri, Esq., Christopher J.
Marcus, Esq., and Michael A. Cohen, Esq., at Kirkland & Ellis LLP,
in New York, serve as counsel to White Birch, as Foreign
Representative.  Kirkland & Ellis and Troutman Sanders also serve
as Chapter 11 counsel to Bear Island.  AlixPartners LLP serves as
financial and restructuring advisors to Bear Island, and Lazard
Freres & Co., serves as investment banker.  Garden City Group is
the claims and notice agent.  Jason William Harbour, Esq., at
Hunton & Williams LLP, in Richmond, Virginia, represents the
Official Committee of Unsecured Creditors.  Chief Judge Douglas O.
Tice, Jr., handles the Chapter 11 and Chapter 15 cases.


BEAR VALLEY: Wants Tenants to Turnover Rent to Maintain Property
----------------------------------------------------------------
Bear Valley Family Limited Partnership asks the U.S. Bankruptcy
Court for the Central District of California to require turnover
of rent (both back rent and ongoing rent) from tenants namely (i)
Chipotle Mexican Grill, Victorville, CA; (ii) VS Direct, inc. and
(iii) Acrobats, LLC.

The Debtor relates that the rents are being escrowed by tenants
Vitamin Shoppe and Chipotle because of a dispute over the
management of the two commercial buildings in Victorville,
California, by the Debtor and one of the alleged members of the
Debtor.  Acrobats is paying Ronen Armony, the alleged member, and
he is not using the funds to maintain the property.

The Debtor also states that the secured lender is seeking adequate
protection starting Aug. 1, and the only funds that the Debtor can
make these payments are from the rent.  Further, the maintenance
of the properties has been lagging.  All but three of the lights
in the parking area lot have gone out creating a safety hazard.
The Debtor needs to be able to collect the rents to correct the
safety hazard.

                    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.


BEARINGPOINT INC: Unsecured Creditors to Receive 3rd Distribution
-----------------------------------------------------------------
John DeGroote Services, LLC, as Liquidating Trustee to the
BearingPoint, Inc. Liquidating Trust, disclosed that the Trust
will make a distribution to unsecured creditors of BearingPoint,
Inc. and its affiliated debtors in the amount of $5 million.  This
will be the Trust's third distribution.  Checks will be mailed to
holders of Allowed General Unsecured Claims.

"This distribution is the result of the commitment and dedication
of the Trust's professionals and contractors.  As we move to the
next phase of our wind-down, we are well positioned to pursue
remaining litigation claims and finalize the sale or disposition
of additional assets over the long term as necessary"

"[The] distribution was driven by litigation recoveries and asset
sales," said John DeGroote, President of John DeGroote Services,
LLC.  These actions have included:

   -- A $5 million settlement with American Express Travel Related
      Services, Inc. for preference and related claims;
      A $5 million dollar settlement with the United States
      Department of the Interior;

   -- The sale of BearingPoint trademarks and related intellectual
      property assets held by the Trust's Barbadian subsidiary;
      and Various tax recoveries at the federal and state levels.

"Subsequent distributions will primarily hinge on recoveries from
litigation, remaining preference claims, and the repatriation of
international funds," noted former BearingPoint Chief Financial
Officer and current Restructuring Advisor David Johnston of
AlixPartners.

With the distribution, the Trust has returned over $448 million to
BearingPoint's creditors, including payment in full to secured
lenders, full satisfaction of BearingPoint, Inc.'s Paid Time Off
obligations to former employees, payment of over $4 million to
additional administrative and priority creditors, and $26 million
to unsecured creditors.  The Unsecured Creditor Pool now stands at
less than $782 million.

"This distribution is the result of the commitment and dedication
of the Trust's professionals and contractors.  As we move to the
next phase of our wind-down, we are well positioned to pursue
remaining litigation claims and finalize the sale or disposition
of additional assets over the long term as necessary," DeGroote
said.

                      About BearingPoint Inc.

BearingPoint, Inc. -- http://www.BearingPoint.com/-- was one of
the world's largest providers of management and technology
consulting services to Global 2000 companies and government
organizations in more than 60 countries worldwide.

BearingPoint, Inc., fka KPMG Consulting, Inc., together with its
units, filed for Chapter 11 protection (Bankr. S.D.N.Y., Case No.
09-10691) on Feb. 18, 2009.  BearingPoint disclosed total assets
of $1.655 billion and debts of $2.201 billion as of Dec. 31, 2008.

The Debtors' legal advisor was Weil, Gotshal & Manges, LLP.  Their
restructuring advisor was AlixPartners LLP, and their financial
advisor and investment banker was Greenhill & Co., LLC.  Jeffrey
S. Sabin, Esq., at Bingham McCutchen LLP represented the
Creditors' Committee.  Garden City Group served as claims and
notice agent.

On the Petition Date, BearingPoint filed a Chapter 11 plan of
reorganization negotiated with lenders prepetition.  BearingPoint,
however, changed course and pursued a sale of its units, after
determining that creditor recoveries would be maximized through
sales of the businesses.

On Dec. 22, 2009, the Bankruptcy Court entered an order confirming
the Debtors' Modified Second Amended Joint Plan.  On Dec. 31,
2009, a Notice of Effective Date of the Plan was filed with the
Bankruptcy Court.  John DeGroote was appointed as liquidating
trustee under the Plan.  The liquidating trustee is represented by
Katherine Dobson, Esq., at Bingham McCutchen, in Hartford,
Connecticut.  The trustee also has retained McKool Smith P.C. and
Whiteford, Taylor & Preston L.L.P. to pursue claims against former
company officers.

Attorneys for John DeGroote can be reached at:

          BINGHAM McCUTCHEN LLP
          Jeffrey S. Sabin, Esq.
          399 Park Avenue
          New York, NY 10022
          Tel: (212) 705-7000
          Fax: (212) 702-3668
          E-mail: jeffrey.sabin@bingham.com

          Sabin Willett, Esq.
          One Federal Street
          Boston, MA 02110
          Tel: (617) 951-8000
          Fax: (617) 345 - 5033
          E-mail: sabin.willett@bingham.com

               - and -

          MCKOOL SMITH P.C.
          Peter S. Goodman, Esq.
          One Bryant Park, 47th Floor
          New York, NY 10036
          Tel: (212) 402-9400
          Fax: (212) 402-9444
          E-mail: pgoodman@mckoolsmith.com

          Lew LeClair, Esq.
          Robert Manley, Esq.
          300 Crescent Court, Suite 1500
          Dallas, TX 75201
          Tel: (214) 978-4000
          Fax: (214) 978-4044
          E-mail: lleclair@mckoolsmith.com
                  rmanley@mckoolsmith.com

          Basil A. Umari
          600 Travis, Suite 7000
          Houston, TX 77002
          Tel: (713) 485-7300
          Fax: (713) 485-7344
          E-mail: bumari@mckoolsmith.com


BERNARD L. MADOFF: Trustee Fights to Keep UniCredit Suit Alive
--------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the trustee liquidating Bernard L. Madoff Investment
Securities Inc. and the Securities Investor Protection Corp.
each filed 38-page briefs yesterday opposing dismissal of the
trustee's $59 billion lawsuit against UniCredit SpA and subsidiary
UniCredit Bank Austria AG.

According to the report, the 76 pages of briefs, not counting
supporting papers, represent the trustee's and SIPC's attempts at
preventing U.S. District Judge Jed Rakoff from dismissing the suit
for the reasons he gave in late July when he threw out the largest
part of a separate $9 billion suit against HSBC Holdings Plc.
SIPC used the majority of its brief yesterday to explain why it
"respectfully disagrees" with Judge Rakoff's grounds for dismissal
of claims against HSBC.  SIPC once again propounded a theory why a
trustee appointed under the Securities Investor Protection Act has
a unique duty imposed by statute to recover so-called customer
property, which in this instance is money stolen from customers of
the Madoff Ponzi scheme.

The report relates that the Madoff trustee takes a different tack
in his 38-page brief by explaining how the UniCredit suit is
different from HSBC.  In support of his claims under the Racketeer
Influenced & Corrupt Organizations Act, commonly known as RICO,
the trustee argues that the UniCredit "defendants ran their own
criminal organization, independent of Madoff." The trustee's
argument is designed to avoid the so-called in pari delicto
defense, where one participant in a fraud can't sue another.

Countering the contention that RICO can't apply outside the
U.S., the trustee, the report adds, lays out facts designed to
show that more than half of the underlying activities, including
wire fraud, mail fraud and money laundering, took place in the
U.S.  Even if Rakoff were correct in dismissing claims against
HSBC based on common law, the Madoff trustee points out that
RICO claims aren't based on common law.

UniCredit and Bank Austria will file replies on Sept. 12 in
advance of a hearing before Rakoff on Sept. 19.

The trustee's suit contends that Bank Medici AG and Sonja Kohn,
its founder, worked in tandem with Madoff going back at least
until the mid-1980s. The trustee alleges that Ms. Kohn and her
bank funneled more than $9 billion into Mr. Madoff through foreign
investment funds.

The UniCredit case in district court is Picard v. Kohn,
11-1181, U.S. District Court, Southern District New York
(Manhattan).

                    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.


BROADSTRIPE LLC: Wave Broadband Agrees to Buy All Assets
--------------------------------------------------------
Jayashree Adkoli at TMCnet reports that Wave Broadband has signed
an agreement to purchase substantially all of the assets of
Broadstripe LLC, a provider of residential and commercial bundled
communications services.

According to the report, Wave Broadband -- currently operating in
California, Oregon, and Washington, and serving over 300,000
customers -- will acquire Broadstripe's Washington and Oregon
properties that reach over 103,000 homes.  While, WOW! will add
92,000 households from Broadstripe's Michigan systems to the 1.5
million households it already serves in Illinois, Indiana,
Michigan, and Ohio.

In addition, Broadstripe's Maryland system operating in Anne
Arundel County will be acquired by Anne Arundel Broadband, LLC.
This newly formed entity will be operated by industry veterans to
include John Bjorn, Broadstripe's current executive VP of regional
operations.

The report says recent sale of Broadstripe must be approved by the
Bankruptcy Court.  Upon approval, the transition is expected to
take up to four months before the sale can be officially
completed.

DH Capital, which is providing advisory services to Broadstripe on
this transaction, is a New York City-based private investment
banking partnership serving companies in the communications and
Internet infrastructure sectors.  It provides a full range of
advisory services to companies and financial institutions, such as
mergers and acquisitions, private capital placements, financial
restructuring, and operational consulting.

                       About Broadstripe LLC

Headquartered in Chesterfield, Missouri, Broadstripe LLC --
http://www.broadstripe.com/-- provides videos and telephone
services to consumers and business in Maryland, Michigan,
Washington and Oregon.  The Company and five of its affiliates
filed for Chapter 11 protection (Bankr. D. Del. Case No. 09-10006)
on Jan. 2, 2009.  Attorneys at Ashby & Geddes, and Gardere Wynne
Sewell LLP represent the Debtors in their restructuring efforts.
The Debtors tapped FTI Consulting Inc. as their restructuring
consultant, and Epiq Bankruptcy Consultants LLC as their claims
agent.  In its petition, Broadstripe estimated assets and debts
between $100 million and $500 million.

Broadstripe has been in Chapter 11 more than 18 months thus any
creditor can file a plan.


CANO PETROLEUM: Cancels Commodity Swap Contracts with Natixis
-------------------------------------------------------------
Cano Petroleum, Inc., executed a mutual termination letter with
Natixis providing for the termination of two fixed price commodity
swap contracts that the parties entered into on Sept. 11, 2009.
The fixed price commodity swaps were based on West Texas
Intermediate NYMEX prices.

In recognition that Natixis was able to terminate the fixed price
commodity swaps due to existing events of default, including, but
not limited to, those defaults identified in the Consent and
Forbearance Agreement dated Aug. 5, 2010, among Cano, certain
guarantors, certain lenders, including Natixis, and Union Bank,
N.A. and previously disclosed on a current report on Form 8-K
filed with the SEC on Aug. 10, 2010, Cano and Natixis agreed to
mutually and consensually terminate the fixed price commodity
swaps at a time when Cano's exposure in the swap transactions
appears to be favorably reduced.  Pursuant to the Termination
Letter, Cano also released Natixis and its affiliates from claims
related to the commodity swap transactions, the early termination
thereof and Cano's Amended and Restated Credit Agreement.  In
connection with the termination of the commodity swap
transactions, Cano must pay $3.65 million to Natixis.

In addition to being a party to the commodity swap transactions,
Natixis is also one of the senior lenders under Cano's Amended and
Restated Credit Agreement.

                       About Cano Petroleum

Cano Petroleum, Inc., is an independent Texas-based energy
producer with properties in the mid-continent region of the United
States.  Cano's primary focus is on increasing domestic production
from proven fields using enhanced recovery methods.  Cano trades
on the NYSE Amex Stock Exchange under the ticker symbol CFW.

The Company's balance sheet at March 31, 2011, showed
$257.88 million in total assets, $137.10 million in total
liabilities, and $120.78 million in total stockholders' equity.

The Company reported a net loss of $11.5 million on $22.8 million
of revenue for fiscal year ended June 30, 2010, compared with a
net loss of $231,000 on $23.4 million of revenue for fiscal 2009.
The Company reported a net loss of $12.53 million on $18.62
million of total operating revenue for the nine months ended March
31, 2011, compared with a net loss of $11.77 million on $16.36
million of total operating revenue for the same period a year ago.

As reported by the Troubled Company Reporter on Sept. 28, 2010,
the Company said if it is unable to successfully execute one of
its strategic alternatives, restructure its existing indebtedness,
obtain further waivers or forbearance from its existing lenders or
otherwise raise significant additional capital, it is unlikely
that it will be able to meet its obligations as they become due
and to continue as a going concern.  As a result, the Company will
likely file for bankruptcy or seek similar protection.  Moreover,
it is possible that the Company's creditors may seek to initiate
involuntary bankruptcy proceedings against it or against one or
more of its subsidiaries, which would force it to make a defensive
voluntary filing of its own.


CD PETRO: Files for Chapter 7 Bankruptcy Protection
---------------------------------------------------
The Star Tribune reports that CD Petro LLC, 13774 Reimer Dr.,
Maple Grove, filed for Chapter 7 bankruptcy protection (Bankr. D.
Minn. Case No. 11-45513) in Minneapolis, disclosing assets of
$2,195,058, and liabilities of $3,018,031.  Chip A. Rice is the
chief manager of the company.


CHERRY HILL: Files for Chapter 11 Bankruptcy Protection
-------------------------------------------------------
Philly.com reports that the Spa at the Cherry Hill Inn Inc., 1585
Rt. 73, Pennsauken, filed for Chapter 11 bankruptcy protection in
the U.S. Bankruptcy Court in New Jersey.  There are no schedules
available.


CHINA XINGBANG: Posts $510,700 Net Loss in 2nd Quarter
------------------------------------------------------
China Xingbang Industry Group Inc. filed its quarterly report on
Form 10-Q, reporting a net loss of $510,746 on $597,922 of
revenues for the three months ended June 30, 2011, compared with
net income of $123,205 on $1.32 million of revenues for the same
period last year.

The Company reported a net loss of $529,327 on $1.63 million of
revenues for the six months ended June 30, 2011, compared with a
net loss of $70,917 on $2.26 million of revenues for the
corresponding period of 2010.

The Company's balance sheet at June 30, 2011, showed $2.05 million
in total assets, $1.66 million in total liabilities, all current,
and stockholders' equity of $387,988.

The Company has an accumulated deficit of $285,159 as at June 30,
2011, that includes a net loss of $529,327 for the six months
ended June 30, 2011.  As at June 30, 2011, the Company's total
current liabilities exceeded its total current assets by $68,333
and the Company used cash in operations of $572,401 for the six
months ended on that date.  "These factors raise substantial doubt
about its ability to continue as a going concern."

A copy of the Form 10-Q is available at http://is.gd/g1fwDv

China Xingbang Industry Group Inc., a Nevada corporation, through
its wholly owned subsidiaries Xingbang BVI and Xingbank HK, owns
Guangzhou Xingbang Information Consulting Co., Ltd., a wholly
foreign-owned enterprise, or the "WFOE", formed in the PRC, which
controls Guangdong Xingbang, a variable interest entity, through a
series of VIE contractual arrangements.  Guangdong Xingbang is the
sole source of income and operations of the Company.

Based in the city of Guangzhou, Guangdong Province, China,
Guangdong Xingbang is a company principally engaged in the
provision of marketing consultancy services to manufacturers,
distributors and other businesses and local governments in the
lighting, ceramics and other home furnishings industry in the PRC.


CIRCUIT CITY: Wins Court OK to Sell IP Assets for $6 Million
------------------------------------------------------------
Hilary Russ at Bankruptcy Law360 reports that U.S. Bankruptcy
Judge Kevin R. Huennekens on Friday approved the $6 million sale
of Circuit City Stores Inc.'s intellectual property assets to
Innovative Video Security LLC, the highest bidder at an Aug. 16
auction.

Judge Huennekens signed off on the transaction, which is for six
dozen patents and other intellectual property.  The liquidating
trust will distribute proceeds of the sale to certain creditors
and interest holders, according to Law360.

                        About Circuit City

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

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

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

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

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


CIT GROUP: Moody's Rates Revolving Credit Facility at 'Ba3'
-----------------------------------------------------------
Moody's Investors Service assigned a rating of Ba3 to CIT Group
Inc.'s $2 billion revolving credit facility, which closed on
August 25. Unrelated to this transaction, Moody's also revised the
ratings assigned to certain CIT bonds previously designated as
unsecured to B2 from B3, on the basis of collateral pledges
securing these bonds. CIT's Corporate Family Rating (CFR) remains
at B2 with a stable outlook.

RATINGS RATIONALE

The new revolving credit facility, which matures in August 2015,
initially has the same guarantors, collateral, and priority as
CIT's $2.5 billion first lien term loan. When CIT fully repays its
outstanding Series A Notes, and the collateral pledges and
guarantees supporting CIT's Series C notes are thereby also
released, the revolving credit facility will automatically become
unsecured. Proceeds of the new revolving credit facility, together
with cash on hand at CIT, were used to repay the $2.5 billion
first lien term loan.

The Ba3 rating on the revolving credit facility is two notches
above CIT's CFR of B2, based upon terms that meaningfully lower
secured lenders' risk of loss compared to holders of CIT's other
indebtedness. The revolving credit facility is guaranteed by
nearly all direct and indirect material domestic restricted
subsidiaries of CIT. Furthermore, the facility is secured on a
first-lien basis by substantially all U.S. assets owned by CIT not
otherwise pledged to other secured debts and securitizations, as
well as stock pledges of certain foreign CIT subsidiaries. CIT
must at all times comply with a covenant requiring that its
collateral coverage ratio exceed 2.0x.

Once the revolving credit facility becomes unsecured, Moody's
anticipates that the rating of the facility will be no more than
one notch higher than CIT's CFR. The collateral pledges and
(except as noted below) guarantees backing the revolving credit
facility will be automatically released when CIT fully repays its
Series A second-lien notes and when the collateral pledges and
guarantees supporting CIT's Series C second lien notes are thereby
also released (the Collateral Release Date). From that time, the
revolving credit facility will be guaranteed by certain CIT
domestic subsidiaries, though without an accompanying pledge of
assets. Additionally, CIT will be subject to a covenant that its
guarantor asset coverage ratio be not less than 2.0x at all times.
Moody's believes that the upstream guarantees and associated
guarantor asset coverage covenant that become effective after the
Collateral Release Date provide less protection to creditors than
the initial collateral and guarantor provisions supporting the
facility, but enhanced protection in comparison to holders of
CIT's other obligations.

Moody's also revised the ratings assigned to 32 bonds totaling
approximately $135 million that were reinstated after CIT emerged
from bankruptcy in December 2009. These bonds, originally
unsecured when issued prior to CIT's bankruptcy, include a
covenant that CIT would not create liens on assets of the borrower
(CIT Group Inc.) unless equal and ratable liens were also provided
to the debt holders. When liens were created on CIT Group Inc. as
part of its bankruptcy reorganization, equal and ratable liens
were also provided to the reinstated bonds relating to CIT Group
Inc. assets, but not the assets of CIT's subsidiaries. In Moody's
view, the asset pledge enhances the recovery prospects of these
bonds in the event of default and warrants the revised rating.

In its last CIT rating action on May 3, 2011, Moody's upgraded
CIT's Corporate Family Rating to B2 from B3, its Senior Secured
First Lien Term Loan to Ba3 from B1, its Senior Secured Second
Lien Regular Bond/Debenture to B2 from B3, and its Senior
Unsecured Regular Bond/Debenture to B3 from Caa1, with a stable
outlook.

The principal methodology used in this rating was Analyzing The
Credit Risks Of Finance Companies published in October 2000.

CIT Group, Inc. is a bank holding company with headquarters in New
York City and Livingston, New Jersey.


CITY OF CENTRAL FALLS: Files List of 20 Largest Unsec. Creditors
----------------------------------------------------------------
The City of Central Falls has filed with the U.S. Bankruptcy Court
for the District of Rhode Island a list of its 20 largest
unsecured creditors.

Debtor's List of 20 Largest Unsecured Creditors:

  Entity                        Nature of Claim     Claim Amount
  ------                        ---------------     ------------
Intercity Maintenance and
Restoration Inc
15 Clarkson Street
Providence, RI 02908              Trade Debt          $156,242.01

Women's Development Corporation
861A Broad Street
Providence, RI 02907              Legal Judgment      $130,000.00

Cardi Corporation
400 Lincoln Avenue
Warwick, RI 02888                 Trade Debt          $80,828.66

RI Resource Recovery Corporation  Trade Debt          $48,564.22

Pawtucket Water Supply Board      Utility             $36,875.57

National Grid                     Utility             $34,788.63

Petro Commercial Services         Trade Debt          $22,405.58

Ursillo, Teitz & Ritch, Ltd       Trade Debt          $14,367.61

Roger Williams University         Trade Debt          $12,094.87

One Communications Corp.          Trade Debt          $11,830.15

Dennis K Burke Inc                Trade Debt          $11,081.67

RI Inter-Local Trust Risk
Management                        Trade Debt           $9,643.00

RI Traffic Tribunal               Trade Debt           $8,915.41

Patrick's Properties LLC          Trade Debt           $8,854.78

Narragansett Bay Commission       Utility              $7,784.61

RI Division of Taxation
Excise Tax Division/Realty        Trade Debt           $7,349.00

The Investment Co                 Trade Debt           $7,059.49

Highlander Dunn Institute         Trade Debt           $6,435.00

Curanderismo Inc.                 Trade Debt           $6,289.66

Alliance Benefit Group            Trade Debt           $6,200.00

                        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.


CNC DEVELOPMENT: UHY Vocation HK Raises Going Concern Doubt
-----------------------------------------------------------
CNC Development Ltd. filed on Aug. 15, 2011, its annual report on
Form 20-F for the fiscal year ended Dec. 31, 2010.

UHY Vocation HK CPA Limited, in Hong Kong, expressed substantial
doubt about CNC Development's ability to continue as a going
concern.  The independent auditors noted that the Company has only
limited working capital as of Dec. 31, 2010, and is dependent on
obtaining additional financing to execute its business plan.

The Company reported a net loss of $7.7 million on $0 revenue for
2010, compared with a net loss of $4.3 million on $0 revenue for
2009.

The Company's balance sheet at Dec. 31, 2010, showed $19.6 million
in total assets, $11.7 million in total liabilities, $21.9 million
of total preferred stock and accrued dividends, and a
stockholders' deficit of $14.0 million.

A copy of the Form 20-F is available at http://is.gd/VQlQyf

CNC Development Ltd. was established under the laws of the British
Virgin Islands on Aug. 8, 2008, as a subsidiary of InterAmerican
Acquisition Group, Inc., a blank check company that was formed as
a vehicle for an acquisition of an operating business.

The Company and its subsidiaries, until the suspension of business
operations, were engaged in providing services to municipal-
government customers to integrate project design, implementation
and financing for Build-Transfer projects in the People's Republic
of China.

The Company lists its principal executive offices as c/o WHI,
Inc., at 410 South Michigan Ave., Suite 620, in Chicago, Illinois.


COMMERCETEL CORP: Posts $466,100 Net Loss in 2nd Quarter
--------------------------------------------------------
CommerceTel Corporation filed its quarterly report on Form 10-Q,
reporting a net loss of $466,186 on $553,108 of revenues for the
three months ended June 30, 2011, compared with a net loss of
$330,371 on $205,099 of revenues for the same period last year.

The Company reported a net loss of $1.2 million on $693,745 of
revenues for the six months ended June 30, 2011, compared with a
net loss of $458,464 on $428,822 of revenues for the same period
of 2010.

The Company's balance sheet at June 30, 2011, showed $4.6 million
in total assets, $3.0 million in total liabilities, and
stockholders' equity of $1.6 million.

Mayer Hoffman McCann, in San Diego, expressed substantial doubt
about CommerceTel's ability to continue as a going concern,
following the Company's 2010 results.  The independent auditors
noted that the Company has incurred recurring operating losses and
negative cash flows from operations and is dependent on additional
financing to fund operations.

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

Based in San Diego, CommerceTel Corporation is a provider of
technology that enables major brands and enterprises to engage
consumers via their mobile phone.


CONSHOHOCKEN COLLISION: Files for Chapter 7 Protection
------------------------------------------------------
Philly.com reports that Conshohocken Collision Inc., 369 W. Elm
St., Conshohocken, filed for Chapter 7 bankruptcy protection in
the U.S. Bankruptcy Court in Pennsylvania.  There are no schedules
available.


CRAWFORD FURNITURE: Files for Chapter 11 Bankruptcy Protection
--------------------------------------------------------------
Crawford Furniture Manufacturing Corp., along with affiliate,
Crawford Furniture Retail Outlet Inc., filed for Chapter 11
bankruptcy protection.

Thomas Russell at Furniture Today reports that the Debtors each
estimated between $10 million and $50 million in assets and
$1 million to $10 million in liabilities.  The top 20 unsecured
creditors were listed as having more than $645,000 in claims
against the company.

The report says the Company's retail landlord, Benderson
Development, had locked two of its locations, including a store in
Hamburg, N.Y., and a warehouse in Cheektowaga, N.Y.

The Company stated that the bankruptcy filing will allow it to
continue operating its businesses while company officials assess
their operations.  It also said that the stores would remain open
during the bankruptcy.

Established in 1883, Crawford Furniture Manufacturing Corp.
advertises itself as a producer of 100% solid wood furniture made
with materials purchased within a 150-mile radius of Jamestown.
Its line includes bedroom, dining room, office and home
entertainment and occasional furniture.

Crawford Furniture Mfg. Corp. and Crawford Furniture Retail
Outlet, Inc. filed Chapter 11 petitions (Bankr. W.D.N.Y. Case Nos.
11-12945 and 11-12946) on Aug. 25, 2011.  Camille W. Hill, Esq.,
at Bond, Schoeneck & King, PLLC, Syracuse, New York, serves as
counsel.


CUI GLOBAL: Stockholders OK 1-for-50 Reverse Stock Split
--------------------------------------------------------
The Stockholders approved a proposal to effect a reverse stock
split of the issued and outstanding shares of CUI Global, Inc.,
$0.001 par value common stock at any time prior to June 30, 2012,
at a ratio of up to 1 for 50, as determined by the Board of
Directors in its sole discretion.  No fractional shares will be
issued: If the number of "pre-split" common shares is not evenly
divisible by the ratio number, the "pre-split" shares will round
up to the next number that is divisible by the ratio number.  The
number of authorized common stock will remain unaffected and the
par value will remain at $0.001 per share.  The Board of Directors
has not yet set the reverse split ratio and effective date.

                         About CUI Global

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

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

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

The Company's balance sheet at March 31, 2011, showed
$34.06 million in total assets, $21.93 million in total
liabilities, $171,778 in non-controlling interest, and
$12.30 million in total stockholders' equity.


CULTURE MEDIUM: Madsen & Associates Raises Going Concern Doubt
--------------------------------------------------------------
Culture Medium Holdings Corp. (Brand Neue Corporation) filed on
Aug. 15, 2011, its annual report on Form 10-K for the fiscal year
ended March 31, 2011.

Madsen & Associates CPA's, Inc., in Murray, Utah, expressed
substantial doubt about Culture Medium Holdings' ability to
continue as a going concern.  The independent auditors noted that
the Company will need additional working capital to service its
debt and for its planned activity.

The Company reported a net loss of $2.5 million for fiscal 2011,
compared with a net loss of $269,617 for fiscal 2010.  The Company
recorded sales of $977,133 in fiscal 2011.  The Company reported
no sales in fiscal 2010.

The Company's balance sheet at March 31, 2011, showed $2.3 million
in total assets, $1.8 million in total liabilities, and
stockholders' equity of $456,338.

A copy of the Form 10-K is available at http://is.gd/9Y19Tc

Las Vegas, Nev.-based Culture Medium Culture Medium Holdings
Corp., formerly Brand Neue Corp., was incorporated on March 15,
2007, in the State of Nevada.  The Company's original business
purpose was to engage in the business of acquisition, exploration
and development of natural resource properties.  The Company has
shifted its business to concentrate on bringing innovative
products to market.  In the past year it formed a subsidiary,
Voyager Health Technologies Corp., to market nutriceutical
products.  It began operations on Jan. 28, 2011.


CUMULUS MEDIA: Provides Procedures on Cash and Stock Elections
--------------------------------------------------------------
Cumulus Media Inc. entered into an Agreement and Plan of Merger,
dated as of March 9, 2011, by and among the Company, Cumulus Media
Holdings Inc., Cadet Merger Corporation and Citadel Broadcasting
Corporation.  On Aug. 5, 2011, the Company's Registration
Statement on Form S-4 relating to the pending acquisition of
Citadel pursuant to the Merger Agreement was declared effective by
the Securities and Exchange Commission.  Commencing on or about
Aug. 8, 2011, the Company's and Citadel's joint Information
Statement/Proxy Statement/Prospectus, included as part of the
Registration Statement, was first mailed to the stockholders of
the Company and of Citadel.

                      Cash and Stock Elections

On Aug. 10, 2011, the Company commenced the distribution of the
Letter of Election and Transmittal and the Letter of Election to
all holders of Citadel common stock and Warrants.  Pursuant to the
terms of the Merger Agreement, Merger Sub will be merged with and
into Citadel, and each share of common stock of Citadel
outstanding immediately prior to the Merger will be converted into
the right to receive:

   (i) $37.00 in cash; or

  (ii) 8.525 shares of common stock of the Company; or

(iii) a combination of cash and common stock of the Company.

In accordance with the Merger Agreement, each Citadel
Securityholder that validly surrenders its shares of Citadel
common stock or Warrants prior to the Election Deadline, has the
opportunity to elect to receive cash or stock, or a combination
thereof, in exchange for its shares of Citadel common stock or
Warrants.

As stated in the applicable Election Form, Citadel Securityholders
who hold their securities in their own name must submit their
Election Forms to U.S. Bank National Association, as the exchange
agent for the Merger, in accordance with the instructions set
forth on the front cover of the applicable Election Form.  Citadel
Securityholders who hold their securities in "street name" through
a broker must make their elections in accordance with the
instructions they receive from their broker.

Citadel Securityholders who hold securities in their own name
should properly complete, sign and deliver the applicable Election
Form to the Exchange Agent by the election deadline, which is 5:00
p.m., New York City time, on Sept. 9, 2011, unless extended.
Citadel Securityholders who hold securities in "street name"
through a broker must make their election in accordance with the
instructions they receive from their broker.  All currently
outstanding shares of Citadel common stock and Warrants are held
in book entry form through a direct registration system maintained
by Citadel's transfer agent for its common stock and by Citadel's
warrant agent for the warrants.  Consequently, there will not be
any guaranteed delivery procedures offered with respect to the
applicable Election Form, and notices of guaranteed delivery are
not being provided to Citadel Securityholders.

                    Warrants to Purchase Shares
                      of Citadel Common Stock

Pursuant to the terms of the Merger Agreement, Warrantholders have
the opportunity to elect to have their Warrants adjusted into the
right to receive, upon completion of the Merger and exercise of
their Warrants, (i) the Cash Consideration, (ii) the Stock
Consideration or (iii) Mixed Consideration, in each case subject
to proration.  Under the Merger Agreement there are limits on the
total amount of Stock Consideration and Cash Consideration,
respectively, that Warrantholders will be entitled to receive
under the adjusted terms of the Warrants.  If the total Cash
Consideration or Stock Consideration would exceed the respective
limits, the Warrantholders who made valid elections will receive
Mixed Consideration as described, and subject to the proration
procedures, in the Merger Agreement.  Consequently, there is no
guarantee that a Warrantholder's Warrants will be adjusted into
the right to receive, upon exercise, the Stock Consideration for
all of such Warrantholder's Warrants, even if such Warrantholder
makes a valid stock election. Likewise, there is no guarantee that
a Warrantholder's Warrants will be adjusted into the right to
receive, upon exercise, Cash Consideration for all of such
Warrantholder's Warrants, even if such Warrantholder makes a valid
cash election.

Pursuant to the terms of the Merger Agreement, any Warrants for
which a Warrantholder does not make a valid election by the
Election Deadline will be adjusted into the right to receive
consideration in such form of Cumulus shares or cash as was
subject to pro-ration in accordance with the terms of the Merger
Agreement due to the valid elections of the holders of Citadel
shares and Warrants, or, if no provations are required, as was
elected by the holders of a majority of Citadel shares and
Warrants for which an election was validly made.  As a result, the
Warrants may be adjusted into the right to receive Stock
Consideration, Cash Consideration or Mixed Consideration
consistent with the proration procedures contained in the Merger
Agreement, whether or not the Warrantholder has made a valid
election with respect to its Warrants.

In accordance with the terms of the Warrant Agreement, dated as of
June 3, 2010, between Citadel and Mellon Investor Services LLC, as
warrant agent, which governs the terms of the Warrants, upon the
effective time of the Merger, all Warrants that have not been
previously exercised will, as of such effective time, be deemed to
have been surrendered for cancellation, and the Company will cause
any Cash Consideration which Warrantholders are entitled to
receive pursuant to the adjusted terms of the Warrants to be paid
to Warrantholders as promptly as practicable following the
effective time of the Merger.  In addition, the Company will
issue, or cause to be issued, to any Warrantholders that are
entitled to receive Stock Consideration, warrants to purchase
shares of the Company's Class A common stock or Class B common
stock, which warrants shall be exercisable at any time prior to
June 3, 2030, at an exercise price of $0.01 per share, in
accordance with the terms of a warrant agreement to be entered
into by the Company and an applicable warrant agent as of the
effective time of the Merger.

Warrantholders who hold their securities in their own name should
properly complete, sign and deliver the Letter of Election to the
Exchange Agent by the Election Deadline, and Warrantholders who
hold their securities in "street name" through a broker must make
their election in accordance with the instructions they receive
from their broker.

                        About Cumulus Media

Based in Atlanta, Georgia, Cumulus Media Inc. (NASDAQ: CMLS) --
http://www.cumulus.com/-- is the second largest radio broadcaster
in the United States based on station count, controlling 350 radio
stations in 68 U.S. media markets.  In combination with its
affiliate, Cumulus Media Partners, LLC, the Company believes it is
the fourth largest radio broadcast company in the United States
when based on net revenues.

The Company's balance sheet at June 30, 2011, showed
$367.20 million in total assets, $689.67 million in total
liabilities, and a $322.47 million total stockholders' deficit.

                          *     *     *

Standard & Poor's Ratings Services said April it raised its
corporate credit rating on Atlanta-based Cumulus Media Inc. to 'B'
from 'B-'.  "The rating remains on CreditWatch, where we placed it
with positive implications Feb. 18, 2011," S&P stated.

Moody's Investors Service in April upgraded Cumulus Media's
Corporate Family Rating to B1 from Caa1 due to the company's
pending acquisition of CMP Susquehanna Corp. in the second quarter
of 2011 followed by the announced $2.4 billion acquisition of
Citadel Broadcasting Corporation later this year.


DIAMONDHEAD CASINO: Incurs $273,900 Net Loss in Q2 Ended June 30
----------------------------------------------------------------
Diamondhead Casino Corporation filed its quarterly report on Form
10-Q, reporting a net loss of $273,934 for the three months ended
June 30, 2011, compared with a net loss of $452,342 for the same
period last year.

The Company reported a net loss of $800,675 for the six months
ended June 30, 2011, compared with a net loss of $975,676 for the
comparable period in 2010.

The Company incurs ongoing expenses, but has no current revenue
and no revenue stream with which to pay ongoing expenses.

The Company's balance sheet at June 30, 2011, showed $5.6 million
in total assets, $2.6 million in total liabilities, and
stockholders' equity of $3.0 million.

As reported in the TCR on March 29, 2011, Friedman LLP, in New
York, N.Y., expressed substantial doubt about Diamondhead Casino's
ability to continue as a going concern, following the Company's
2010 results.  The independent auditors noted that the Company has
incurred significant recurring net losses over the past few years,
and in addition, has no operations, except for its efforts to
develop the Diamondhead, Mississippi property.

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

Largo, Fla.-based Diamondhead Casino Corporation, from inception
through approximately August of 2000, operated gaming vessels in
international waters.  The Company eventually divested itself of
its gaming operations to satisfy financial obligations to its
vendors, lenders and taxing authorities and to focus its resources
on the development of a casino resort in Diamondhead, Mississippi.

The Company owns, through its wholly-owned subsidiary, Mississippi
Gaming Corporation, an approximate 404.5 acre tract of unimproved
land in Diamondhead, Mississippi.  The property is located at 7051
Interstate 10.  The Company intends, in conjunction with unrelated
third parties, to develop the site in phases beginning with a
casino resort.  The casino resort is expected to include a casino,
a hotel and spa, pools, a sport and entertainment center, a
conference center and a state-of-the-art recreational vehicle
park.


DK AGGREGATES: Hires H. Kenneth Lefoldt, Jr., as Accountant
-----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Mississippi has
authorized DK Aggregates LLC to hire H. Kenneth Lefoldt, Jr., of
Lefoldt & Company P.A. as accountant.

Mr. Lefoldt will assist the Debtor in the preparation of the
budgets, pro-formas, and disclosure statement.

His rate is $225 per hour.

                      About DK Aggregates LLC

Pearlington, Mississippi-based DK Aggregates LLC filed for Chapter
11 bankruptcy protection (Bankr. S.D. Miss. Case No. 10-51823) on
Aug. 9, 2010.  Robert Alan Byrd, Esq., at Byrd & Wiser, assists
the Debtor in its restructuring effort.  The Debtor disclosed
assets of $17,025,695 and liabilities of $7,004,953 as of the
petition date.

The Troubled Company Reporter reported on June 22, 2011, that the
Debtor disclosed $18,529,695 in assets and $7,114,925 in
liabilities.


DREIER LLP: Trustee Settles Claims with 360 Networks for $40MM
--------------------------------------------------------------
Dan Rivoli at Bankruptcy Law360 reports that Dreier LLP's trustee
on Thursday asked a federal bankruptcy court to back a settlement
valued at more than $40 million with 360 Networks (USA) Inc.,
which was a victim of convicted ex-attorney Marc Dreier's Ponzi
scheme.

Law360 relates that the proposed settlement would require
360 Networks to pay trustee Sheila M. Gowan $2.9 million and nix
its claim against the firm.  Meanwhile, another claim against the
firm related to Dreier's Ponzi scheme was chopped nearly in half
to $45.1 million from $87.5 million.

                         About Dreier LLP

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

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

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

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


DRYSHIPS INC: Buys Majority of OceanFreight Shares for $33.7-Mil.
-----------------------------------------------------------------
DryShips Inc. announced that it acquired 3,000,856 shares of
OceanFreight Inc.  The shares were acquired from entities
controlled by Mr. Anthony Kandylidis, the CEO of OceanFreight,
under a purchase agreement entered into on July 26, 2011.  These
shares represent a majority of the outstanding shares of
OceanFreight.  The consideration paid by DryShips for each
OceanFreight share consisted of (x) $11.25 in cash and (y) 0.52326
shares of common stock of Ocean Rig UDW Inc, par value of $0.01
per share, with cash paid in lieu of fractional shares.  The total
consideration paid for those shares was $33,759,671 in cash and
1,570,226 shares of Ocean Rig common stock.

The Ocean Rig shares so transferred were outstanding shares held
by DryShips.  As a result of this transaction, DryShips'
percentage ownership of Ocean Rig was reduced from approximately
78% to approximately 77%.

DryShips has agreed to vote the OceanFreight shares that it
acquired in favor of the merger of OceanFreight with a subsidiary
of DryShips, as contemplated by the merger agreement signed by
DryShips and OceanFreight on July 26, 2011.  DryShips holds
sufficient OceanFreight shares to approve the merger.  In that
merger, DryShips will acquire the remaining outstanding shares of
OceanFreight for per share consideration consisting of $11.25 in
cash and 0.52326 shares of Ocean Rig, with cash paid in lieu of
fractional shares.  This is the same per share consideration that
DryShips paid for the shares it acquired from entities controlled
by Mr. Anthony Kandylidis.  The merger is expected to close in the
fourth quarter of 2011.

                        About DryShips Inc.

Based in Greece, DryShips Inc. -- http://www.dryships.com/--
-- owns and operates drybulk carriers and offshore oil
deep water drilling units that operate worldwide.  As of Sept. 10,
2010, DryShips owns a fleet of 40 drybulk carriers (including
newbuildings), comprising 7 Capesize, 31 Panamax and 2 Supramax,
with a combined deadweight tonnage of over 3.6 million tons and
6 offshore oil deep water drilling units, comprising of 2 ultra
deep water semisubmersible drilling rigs and 4 ultra deep water
newbuilding drillships.

DryShips's common stock is listed on the NASDAQ Global Select
Market where it trades under the symbol "DRYS".

On Nov. 25, 2010, DryShips Inc. entered into a waiver letter
for its US$230.0 million credit facility dated Sept. 10, 2007,
as amended, extending the waiver of certain covenants through
Dec. 31, 2010.

In its audit report on the Company's financial statements for the
year ended Dec. 31, 2010, Deloitte, Hadjipavlou Sofianos &
Cambanis S.A., noted that the Company's inability to comply with
financial covenants under its original loan agreements as of Dec.
31, 2009, its negative working capital position and other matters
raise substantial doubt about its ability to continue as a going
concern.

The Company's balance sheet at March 31, 2011, showed
US$6.99 billion in total assets and US$3.04 billion in total
liabilities.


DYNEGY INC: Douglas Hirsch Discloses 9.99% Equity Stake
-------------------------------------------------------
In an amended Schedule 13D filing with the U.S. Securities and
Exchange Commission, Douglas A. Hirsch and his affiliates
disclosed that they beneficially own 12,226,500 shares of common
stock of Dynegy Inc. representing 9.99% of the shares outstanding.
A full-text copy of the regulatory filing is available at no
charge at http://is.gd/bIAcu7

                         About Dynegy Inc.

Through its subsidiaries, Houston, Texas-based Dynegy Inc.
(NYSE:DYN) -- http://www.dynegy.com/-- produces and sells
electric energy, capacity and ancillary services in key U.S.
markets.  The power generation portfolio consists of approximately
12,200 megawatts of baseload, intermediate and peaking power
plants fueled by a mix of natural gas, coal and fuel oil.

The Company's balance sheet at June 30, 2011, showed $9.79 billion
in total assets, $7.26 billion in total liabilities, and
$2.52 billion in total stockholders' equity.

                           Failed Sale

The Troubled Company Reporter has chronicled Dynegy's attempts to
sell itself.  In August 2010, Dynegy struck a deal to be acquired
by an affiliate of The Blackstone Group at $4.50 a share or
roughly $4.7 billion.  That offer was raised to $5.00 a share in
November.  Through Carl Icahn and investment fund Seneca's
efforts, shareholders thumbed down both offers.

In December 2010, an affiliate of Icahn commenced a tender offer
to purchase all of the outstanding shares of Dynegy common stock
for $5.50 per share in cash, or roughly $665 million in the
aggregate.  In February 2011, Icahn Enterprises L.P. terminated
the proposed merger agreement with the Company after it failed to
garner the required number of shareholder votes.

Goldman, Sachs & Co. and Greenhill & Co., LLC, served as financial
advisors and Sullivan & Cromwell LLP served as legal counsel to
Dynegy on the sale efforts.

                        Bankruptcy Warning

Dynegy warned shareholders in March it might be forced into
bankruptcy if it is unable to renegotiate the terms of its
existing debt.

Ernst & Young LLP, in Houston, said Dynegy projects that it is
likely that it will not be able to comply with certain debt
covenants throughout 2011.  "This condition and its impact on
Dynegy Inc.'s liquidity raises substantial doubt about Dynegy
Inc.'s ability to continue as a going concern."

                          *     *     *

In July 2011, Moody's downgraded Dynegy Holdings' probability of
default rating to 'Ca' from 'Caa3'.  "The downgrade of DHI's PDR
and senior unsecured notes to Ca reflects the increased likelihood
of a distressed debt exchange transaction occurring within the
next several months following announcement of a corporate
reorganization that seeks to modify asset ownership within DHI
through the formation of several wholly-owned subsidiaries", said
A.J. Sabatelle, Senior Vice President of Moody's. "Separate
financing arrangements being established at these subsidiaries
will have annual limits placed on the amount of cash flow that can
be paid to their indirect parent, which Moody's believes raises
default prospects for DHI's senior unsecured notes and the
company's lease", added Mr. Sabatelle.


DYNEGY INC: Unit Offers to Purchase Outstanding 9% Secured Bonds
----------------------------------------------------------------
Dynegy Inc. announced that its wholly-owned indirect subsidiary,
Sithe/Independence Funding Corporation, has commenced a cash
tender offer to purchase any and all of Sithe's outstanding
$191,687,012 in aggregate principal amount of 9% Secured Bonds due
2013.

In connection with the tender offer, Sithe is also soliciting
consents from the registered holders of the Notes to certain
proposed amendments to the indenture governing the Notes,
including the (i) elimination of certain of the restrictive
covenants, certain events of default applicable to the Notes and
certain other provisions contained in the Indenture and (ii)
amendment of the satisfaction and discharge provisions of the
Indenture.

The tender offer is scheduled to expire at 11:59 p.m., New York
City time, on Sept. 23, 2011, unless extended or earlier
terminated by Sithe.

The total consideration for each $1,000 principal amount of Notes
validly tendered and accepted for payment will be $1,110.80, which
includes a consent payment of $30 per $1,000 principal amount of
Notes.  In order to receive the Total Consideration, holders of
Notes must validly tender (and not validly withdraw) their Notes
and validly deliver (and not validly revoke) their corresponding
Consents on or prior to 5:00 p.m., New York City time, on Sept. 9,
2011, unless extended or earlier terminated by Sithe.  Holders of
Notes who validly tender (and not validly withdraw) their Notes
after the Consent Date and on or prior to the Expiration Date will
only receive $1,080.80 per $1,000 principal amount of Notes, which
is the Total Consideration minus the Consent Payment.  In addition
to the Total Consideration or the Purchase Price, as applicable,
holders of Notes validly tendered and accepted for payment will
receive accrued and unpaid interest on the Notes from the last
interest payment date for the Notes to, but not including, the
applicable day of payment of the Total Consideration or the
Purchase Price, as applicable.  Sithe expects that the initial
payment date will be on or about Sept. 12, 2011, unless the
Consent Date is extended by Sithe in its sole discretion.  Sithe
intends to fund the purchase of the Notes and payment of Consents
with cash on hand. Sithe currently intends, on the initial payment
date, to satisfy and discharge the Indenture and satisfy and
discharge all Notes, although Sithe has no legal obligation to do
so.

Sithe has retained Credit Suisse Securities (USA) LLC to serve as
the dealer manager for the tender offer and solicitation agent for
the consent solicitation.  Sithe has retained D.F. King & Co.,
Inc., to serve as the depositary and information agent for the
tender offer and consent solicitation.

                         About Dynegy Inc.

Through its subsidiaries, Houston, Texas-based Dynegy Inc.
(NYSE:DYN) -- http://www.dynegy.com/-- produces and sells
electric energy, capacity and ancillary services in key U.S.
markets.  The power generation portfolio consists of approximately
12,200 megawatts of baseload, intermediate and peaking power
plants fueled by a mix of natural gas, coal and fuel oil.

                            Failed Sale

The Troubled Company Reporter has chronicled Dynegy's attempts to
sell itself.  In August 2010, Dynegy struck a deal to be acquired
by an affiliate of The Blackstone Group at $4.50 a share or
roughly $4.7 billion.  That offer was raised to $5.00 a share in
November.  Through Carl Icahn and investment fund Seneca's
efforts, shareholders thumbed down both offers.

In December 2010, an affiliate of Icahn commenced a tender offer
to purchase all of the outstanding shares of Dynegy common stock
for $5.50 per share in cash, or roughly $665 million in the
aggregate.  In February 2011, Icahn Enterprises L.P. terminated
the proposed merger agreement with the Company after it failed to
garner the required number of shareholder votes.

Goldman, Sachs & Co. and Greenhill & Co., LLC, served as financial
advisors and Sullivan & Cromwell LLP served as legal counsel to
Dynegy on the sale efforts.

                        Bankruptcy Warning

Dynegy warned shareholders in March it might be forced into
bankruptcy if it is unable to renegotiate the terms of its
existing debt.

The Company's balance sheet at June 30, 2011, showed $9.79 billion
in total assets, $7.26 billion in total liabilities, and
$2.52 billion in total stockholders' equity.

Ernst & Young LLP, in Houston, said Dynegy projects that it is
likely that it will not be able to comply with certain debt
covenants throughout 2011.  "This condition and its impact on
Dynegy Inc.'s liquidity raises substantial doubt about Dynegy
Inc.'s ability to continue as a going concern."

                           *     *     *

In July 2011, Moody's downgraded Dynegy Holdings' probability of
default rating to 'Ca' from 'Caa3'.  "The downgrade of DHI's PDR
and senior unsecured notes to Ca reflects the increased likelihood
of a distressed debt exchange transaction occurring within the
next several months following announcement of a corporate
reorganization that seeks to modify asset ownership within DHI
through the formation of several wholly-owned subsidiaries", said
A.J. Sabatelle, Senior Vice President of Moody's. "Separate
financing arrangements being established at these subsidiaries
will have annual limits placed on the amount of cash flow that can
be paid to their indirect parent, which Moody's believes raises
default prospects for DHI's senior unsecured notes and the
company's lease", added Mr. Sabatelle.


E-DEBIT GLOBAL: Dismisses C&H as Accountants
--------------------------------------------
E-Debit Global Corp.'s previous independent accountant, Cordavano
& Honeck., was dismissed.

The report of C&H regarding the Company's financial statements for
the fiscal years ended Dec. 31, 2009, and 2010, did not contain
any adverse opinion or a disclaimer of opinion nor were they
qualified or modified as to uncertainty, audit scope or accounting
principles, except that such report on the Company's financial
statements contained an explanatory paragraph in respect to
uncertainty as to the Company's ability to continue as a going
concern.

During the year ended Dec. 31, 2010, and during the period from
the end of the most recently completed fiscal quarter through to
Aug. 23, 2011, the date of dismissal, there were no disagreements
with C&H on any matter of accounting principles or practices,
financial statement disclosure or auditing scope or procedures,
which disagreements, if not resolved to the satisfaction of C&H
would have caused it to make reference to the subject matter of
the disagreements in connection with its report on the financial
statements for those years.

                   About E-Debit Global Corporation

E-Debit Global Corporation (WSHE) is a financial holding company
in Canada at the forefront of debit, credit and online computer
banking.  Currently, the Company has established a strong presence
in the privately owned Canadian banking sector including Automated
Banking Machines (ABM), Point of Sale Machines (POS), Online
Computer Banking (OCB) and E-Commerce Transaction security and
payment.  E-Debit maintains and services a national ABM network
across Canada and is a full participating member of the Canadian
INTERAC Banking System.

We provided C&H with a copy of this Current Report on Form 8-K
prior to its filing with the Securities and Exchange Commission,
and requested that C&H furnish us with a letter addressed to the
Commission stating whether it agrees with the statements made by
us in this Current Report, and if not, stating the aspects with
which it does not agree. Attached to this Current Report on Form
8-K is the letter provided by C&H.

The Company reported a net loss of $1.15 million on $3.97 million
of total revenue for the year ended Dec. 31, 2010, compared with a
net loss of $1.28 million on $3.64 million of revenue during the
prior year.

The Company's balance sheet at June 30, 2011, showed $1.91 million
in total assets, $2.59 million in total liabilities, and a
$681,160 total stockholders' deficit.

As reported by the TCR on April 15, 2011, Cordovano and Honeck
LLP, in Englewood, Colorado, expressed substantial doubt about the
Company's ability to continue as a going concern, following the
2010 financial results.  The independent auditors noted that the
Company has suffered recurring losses, has a working capital
deficit at Dec. 31, 2010, and has an accumulated deficit of
$4,457,079 as of Dec. 31, 2010.


EASTBRIDGE INVESTMENT: Posts $341,100 Net Loss in 2nd Quarter
-------------------------------------------------------------
EastBridge Investment Group Corporation filed its quarterly report
on Form 10-Q, reporting a net loss of $341,182 on $28,000 of
revenues for the three months ended June 30, 2011, compared with a
net loss of $369,772 on $0 revenue for the same period last year.

The Company reported a net loss of $669,463 on $28,000 of revenues
for the six months ended June 30, 2011, compared with a net loss
of $1.4 million on $nil revenue for the same period of 2010.

The Company's balance sheet at June 30, 2011, showed $1.7 million
in total assets, $1.9 million in total liabilities, and
stockholders' equity of $237,752.

As reported in the TCR on April 26, 2011, Tarvaran Askelson &
Company, LLP, in Laguna Niguel, California, expressed substantial
doubt about EastBridge Investment Group's ability to continue as a
going concern, following the Company's 2010 results.  The
independent auditors noted that the Company has incurred
significant losses.

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

Scottsdale, Arizona-based EastBridge Investment Group Corporation
is one of a small group of United States companies solely
concentrated in marketing business consulting services to closely
held, small to mid-size Asian companies that require these
services for expansion.  In business sectors where EastBridge sees
a unique opportunity for growth, EastBridge may form its own
foreign subsidiaries with local partners to capture the
opportunity.

As of June 30, 2011, EastBridge was providing consulting services
to 14 clients to assist them with the auditing and legal processes
to become public companies in the United States and become listed
on a U.S. stock exchange.  Eastbridge is also assisting Cambium
Learning, a NASDAQ listed company (symbol: ABCD), with locating
potential joint venture business partners in China.


EASTERN SECURITY: Reports $749,700 Net Income in 2nd Quarter
------------------------------------------------------------
Eastern Security and Protection Services, Inc., filed its
quarterly report on Form 10-Q, reporting net income of $749,696 on
$2.6 million of revenues for the three months ended June 30, 2011,
compared with net income of $699,836 on $2.4 million of revenues
for the same period last year.

The Company reported net income of $2.2 million on $7.9 million of
revenues for the six months ended June 30, 2011, compared with net
income of $1.4 million on $4.4 million of revenues for the same
period of 2010.

The Company's balance sheet at June 30, 2011, showed $15.5 million
in total assets, $3.7 million in total liabilities, and
stockholders' equity of $11.8 million.

At June 30, 2011, the Company had cash and cash equivalents of
$7,293 and negative cash flow from operations during the six
months ended June 30, 2011.  "These conditions raise substantial
doubt about the Company's ability to continue as a going concern,"
the Company said in the filing.

There was negative cash flow from operations of $20,583 for the
six months ended June 30, 2011.  "In order to fund operations in
the next year, the Company will need to increase its revenue and
operating cash flows.  Achieving positive cash flows from
operations depends on the Company's ability to generate and
sustain significant increases in revenues from its traditional
business.  There can be no assurances that the Company will be
able to generate sufficient revenues and gross profits to achieve
positive cash flow in the future."

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

Based in Shenyang, Liaoning, in the People's Republic of China,
Eastern Security and Protection Services, Inc., provides
designing, installing and testing services of security and safety
systems.  A majority of the Company's revenues is derived from the
provision of surveillance and safety packaged solutions which
include the products, installation and after-sale service
maintenance to its customers.

Presently, the Company has a small market share in Liaoning
province.


EINSTEIN MOOMJY: Meeting to Form Creditors Committee on Sept. 7
---------------------------------------------------------------
Roberta DeAngelis, United States Trustee for Region 3, will hold
an organizational meeting on Sept. 7, 2011, at 10:00 a.m. in the
bankruptcy case of Einstein Moomjy, Inc.  The meeting will be held
at:

         United States Trustee's Office
         One Newark Center
         1085 Raymond Blvd.
         14th Floor, Room 1401
         Newark, NJ 07102

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' cases.

The organizational meeting is not the meeting of creditors
pursuant to Section 341 of the Bankruptcy Code.  A representative
of the Debtor, however, may attend the Organizational Meeting, and
provide background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States
Trustee appoint a committee of unsecured creditors as soon as
practicable.  The Committee ordinarily consists of the persons,
willing to serve, that hold the seven largest unsecured claims
against the debtor of the kinds represented on the committee.
Section 1103 of the Bankruptcy Code provides that the Committee
may consult with the debtor, investigate the debtor and its
business operations and participate in the formulation of a plan
of reorganization.  The Committee may also perform other services
as are in the interests of the unsecured creditors whom it
represents.

                     About Einstein Moomjy

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.


EMERALD CASINO: Trustee's Suit v. D&Os Survives Dismissal Bid
-------------------------------------------------------------
Bankruptcy Judge Eugene R. Wedoff denied a motion for summary
judgment filed by the defendants in the lawsuit, FRANCES GECKER,
not individually but solely as chapter 7 trustee for the
bankruptcy estate of Emerald Casino, Inc., v. DONALD F. FLYNN,
KEVIN F. FLYNN, JOHN P. McMAHON, JOSEPH P. McQUAID, KEVIN D.
LARSON, WALTER P. HANLEY and PEER PEDERSEN, Adv. Proc. No. 08 A
00972 (Bankr. N.D. Ill.).

Emerald's bankruptcy case (Bankr. N.D. Ill. Case No. 02-22977)
began in 2002 and went forward under Chapter 11 of the Bankruptcy
Code.  In 2007, Emerald's bankruptcy case was converted to one
under Chapter 7, and the United States Trustee appointed Frances
Gecker as the Chapter 7 trustee.

Prior to the conversion of the case, in October 2007, a group of
individuals who had invested in Emerald -- Payton Plaintiffs --
filed a complaint in the Circuit Court of Cook County, Illinois
against several defendants involved in Emerald's management,
except Peer Pedersen. The state court complaint set out seven
counts asserting breach of contract, common law and statutory
fraud, and conspiracy.  After the bankruptcy case was converted,
the trustee obtained court approval of a settlement with the
Payton Plaintiffs.  The Payton Plaintiffs assigned their claims
against the defendants to the trustee, and in return they received
the right to share in any recovery that the trustee obtained
either on their claims or on any claims that the trustee asserted
on behalf of the Emerald bankruptcy estate against the same
defendants.  In December 2008, the trustee removed the state court
complaint to the bankruptcy court and amended the complaint to
include additional claims of the estate.

The defendants in the bankruptcy complaint obtained dismissal of
the state court complaint, and they now argue that the state court
dismissal precludes the proceeding in bankruptcy court.  The basis
for the defendants' summary judgment motion is res judicata.

In an Aug. 26, 2011 Memorandum of Decision, Judge Wedoff said res
judicata would bar the complaint in this bankruptcy case if, inter
alia, the claims asserted are identical to those finally
adjudicated by the state court.  However, the defendants cannot
make that showing.  They are judicially estopped from contending
that the claims in the two proceedings are the same because they
previously succeeded in arguing that the claims are fundamentally
different.  Moreover, even if the claims should otherwise have
been adjudicated in a single case, because the defendants
themselves sought to split the claims between two courts, an
established exception to res judicata requires that the trustee be
allowed to pursue her claims separately on behalf of the Emerald
estate.

A copy of the Court's decision is available at http://is.gd/82tKUS
from Leagle.com.


ENERGY EDGE: Earns $72,300 Net Income in 2nd Quarter
----------------------------------------------------
Energy Edge Technologies Corporation filed its quarterly report on
Form 10-Q, reporting net income of $72,310 on $285,922 of contract
revenues for the three months ended June 30, 2011, compared with a
net loss of $390,409 on $264,765 of contract revenues for the
comparable period last year.

The Company reported a net loss of $80,677 on $495,568 of contract
revenues for the six months ended June 30, 2011, compared with a
net loss of $401,098 on $576,224 of contract revenues for the same
period of 2010.

The Company's balance sheet at June 30, 2011, showed $1.0 million
in total assets, $729,731 in total liabilities, and stockholders'
equity of $306,902.

Silberstein Ungar, PLLC, in Bingham Farms, Michigan, expressed
substantial doubt about Energy Edge Technologies' ability to
continue as a going concern.  The independent auditors noted that
the Company has limited working capital, and has incurred a
significant loss from operations.

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

Bridgewater, N.J.-based Energy Edge Technologies Corporation
provides energy engineering and services specializing in the
development and implementation of advanced, turnkey projects to
reduce energy losses and increase the efficiency of new and
existing buildings.


ENFIN ENTERPRISES: Case Summary & 10 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Enfin Enterprises, Inc.
        dba Chez Pierre
        1215 Thomasville Road
        Tallahassee, FL 32303

Bankruptcy Case No.: 11-40689

Chapter 11 Petition Date: August 25, 2011

Court: United States Bankruptcy Court
       Northern District of Florida (Tallahassee)

Debtor's Counsel: Thomas B. Woodward, Esq.
                  P.O. Box 10058
                  Tallahassee, FL 32302
                  Tel: (850) 222-4818
                  Fax: (850) 561-3456
                  E-mail: woodylaw@embarqmail.com

Scheduled Assets: $1,142,978

Scheduled Debts: $2,040,370

A list of the Company's 10 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/flnb11-40689.pdf

The petition was signed by Eric Favier, president.


ENTREMED INC: Posts $1.7 Million Net Loss in Q2 Ended June 30
-------------------------------------------------------------
EntreMed, Inc., filed its quarterly report on Form 10-Q, reporting
a net loss of $1.7 million on $8,852 of revenue for the three
months ended June 30, 2011, compared with a net loss of
$4.9 million on $nil revenue for the same period last year.

The Company reported a net loss of $4.3 million on $8,852 of
revenue for the six months ended June 30, 2011, compared with a
net loss of $7.1 million on $0 revenue for the same period in
2010.

The Company's balance sheet at June 30, 2011, showed $4.1 million
in total assets, $1.3 million in total liabilities, all current,
and stockholders' equity of $2.8 million.

As reported in the TCR on April 6, 2011, Reznick Group, P.C., in
Vienna, Va., expressed substantial doubt about EntreMed's ability
to continue as a going concern, following the Company's 2010
results.  The independent auditors noted that the Company has
incurred recurring operating losses and negative cash flows from
operations.

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

Rockville, Md.-based EntreMed, Inc. (Nasdaq: ENMD)
-- http://www.entremed.com/-- is a clinical-stage pharmaceutical
company committed to developing ENMD-2076, a selective angiogenic
kinase inhibitor, for the treatment of cancer.  ENMD-2076 is
currently in a multi-center Phase 2 study in ovarian cancer and in
several Phase 1 studies in solid tumors, multiple myeloma, and
leukemia.


EPICEPT CORP: Files Form S-3, Registers $25MM Common Shares
-----------------------------------------------------------
EpiCept Corporation filed with the U.S. Securities and Exchange
Commission a Form S-3 registration statement relating to the offer
and sale, from time to time, of $25 million worth of common
shares.

The Company's common stock is dual-listed on The Nasdaq Capital
Market and the Nasdaq OMX Stockholm Exchange under the ticker
symbol "EPCT."  The last reported sale price of the Company's
common stock on Aug. 24, 2011 was $0.45 per share.

A full-text copy of the Form S-3 registration statement is
available for free at http://is.gd/94A8Fx

                     About EpiCept Corporation

Tarrytown, N.Y.-based EpiCept Corporation (Nasdaq and Nasdaq OMX
Stockholm Exchange: EPCT) -- http://www.epicept.com/-- is focused
on the development and commercialization of pharmaceutical
products for the treatment of cancer and pain.  The Company's lead
product is Ceplene(R), approved in the European Union for the
remission maintenance and prevention of relapse in adult patients
with Acute Myeloid Leukemia (AML) in first remission.  In the
United States, a pivotal trial is scheduled to commence in 2011.
The Company has two other oncology drug candidates currently in
clinical development that were discovered using in-house
technology and have been shown to act as vascular disruption
agents in a variety of solid tumors.  The Company's pain portfolio
includes EpiCept(TM) NP-1, a prescription topical analgesic cream
in late-stage clinical development designed to provide effective
long-term relief of pain associated with peripheral neuropathies.

The Company reported a net loss of $15.54 million on $994,000 of
revenue for the year ended Dec. 31, 2010, compared with a net loss
of $38.81 million on $414,000 of revenue during the prior year.

The Company's balance sheet at June 30, 2011, showed
$16.84 million in total assets, $26.57 million in total
liabilities, and a $9.72 million total stockholders' deficit.

The Company's recurring losses from operations and the Company's
stockholders' deficit raise substantial doubt about its ability to
continue as a going concern and, as a result, the Company's
independent registered public accounting firm, Deloitte & Touche
LLP, in Parsippany, New Jersey, included an explanatory paragraph
in its report on the Company's consolidated financial statements
for the year ended Dec. 31, 2010, which was included in our Annual
Report on Form 10-K, with respect to this uncertainty.


ESTATE FINANCIAL: Bryan Cave Battles $100MM Malpractice Suits
-------------------------------------------------------------
Samuel Howard at Bankruptcy Law360 reports that Bryan Cave LLP on
Friday challenged a California bankruptcy judge's refusal to let
the firm withdraw its claims for $280,000 in fees in Estate
Financial Inc.'s Chapter 11 cases now that it faces $100 million
malpractice suits from trustees for allegedly enabling the fraud
that ruined the lender and put its founders in jail.

                       About Estate Financial

Estate Financial, Inc. -- http://www.estatefinancial.com/-- is a
California corporation that had been a license real estate
brokerage firm since the later 1980's.  EFI solicited funding for,
and arranged and made, loans secured by various real property.
EFI also was the sole manager of Estate Financial Mortgage Fund
LLC (EFMF), a California limited liability company that was
organized for the purpose of investing in and funding loans
originated by EFI which were secured by first deeds of trust
encumbering commercial and real estate located primarily in
California and has been funding such mortgage loans since 2002.

Five creditors of EFI filed an involuntary Chapter 11 petition
against the real estate broker on June 25, 2008 (Bankr. C.D.
Calif. Case Number 08-11457).  Estate Financial Inc. consented to
the bankruptcy filing on July 16, 2008.

Robert B. Orgel, Esq., at Pachulski Stang Ziehl & Jones LLP, and
William C. Beall, Esq., at Beall and Burkhardt, represent the
Debtor as counsel.  A Chapter 11 trustee, Thomas P. Jeremiassen,
was appointed by the Court on July 23, 2008.  Robyn B. Sokol,
Esq., and Steven T. Gubner, Esq., at Ezra Brutzkus & Gubner,
represent the official committee of unsecured creditors as
counsel.  In its schedules, Estate Financial disclosed total
assets of $27,428,550, and total debts of $7,316,755.


EVERGREEN ENERGY: Inks Sales Agency Agreement with Lazard Capital
-----------------------------------------------------------------
Evergreen Energy Inc. has entered into a Sales Agency Agreement,
dated Aug. 24, 2011, with Lazard Capital Markets LLC, under which
it may, at the Company's discretion, from time to time sell up to
a maximum of $10 million of its shares of common stock through an
"at-the-market" program.

Ilyas Khan, Evergreen Energy Chairman, commented, "The ATM Program
provides Evergreen with necessary working capital and is tailored
appropriately to our needs.  The facility gives the Company both
discretion and flexibility in addressing those financing needs,
while addressing concerns about our balance sheet requirements.
We are once again pleased to be working with Lazard, as our agent
and advisor in the transaction.  I would also advise that we
continue to look forward to the anticipated proceeds from the sale
of the assets of our subsidiary, Landrica Development Company, and
potential proceeds from the sale of the boiler, which we are
currently marketing for sale."

Lazard Capital Markets LLC will act as the Company's exclusive
sales agent for any sales made under the ATM Program.  The Shares
will be sold by means of ordinary brokers' transactions on the
NYSE Arca at market prices prevailing at the time of a sale of the
Shares or at prices negotiated with the Agent.  As a result,
prices may vary as between purchasers and during the term of the
offering.  The Company is not required to sell any of the reserved
shares at any time during the term of the ATM Program, which
extends until Jan. 18, 2013.  The Company intends to use the net
proceeds from any sales under the ATM Program for working capital
and general corporate purposes, including debt service, and to
satisfy a portion of the payments due under the Company's
settlement agreement in the Cook & Bitonti litigation.

In connection with the ATM Program, the Company has filed a
prospectus supplement to its registration statement, dated
Dec. 31, 2009, and declared effective by the SEC on Jan. 19, 2010,
with the United States Securities and Exchange Commission to
enable the offering of common stock.

                       About Evergreen Energy

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

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

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

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


EVERGREEN SOLAR: Seeks to Employ Bingham McCutchen as Counsel
-------------------------------------------------------------
Evergreen Solar, Inc., asks the U.S. Bankruptcy Court for the
District of Delaware for authority to employ Bingham McCutchen LLP
as lead restructuring counsel effective as of the Petition Date.

Bingham McCutchen's services to the Debtor include:

   a. advising the Debtor with respect to its powers and duties
      as debtor in possession in the continued management and
      operation of its business and properties;

   b. advising and consulting on the conduct of the chapter 11
      case, including all of the legal and administrative
      requirements of operating in chapter 11;

   c. attending meetings and negotiating with representatives of
      the creditors and other parties in interest;

   d. taking all necessary action to protect and preserve the
      Debtor's estate, including prosecuting actions on the
      Debtor's behalf, defending any action commenced against the
      Debtor and representing the Debtor's interests in
      negotiations concerning litigation in which the Debtor is
      involved, including objections to claims filed against the
      Debtor's estate;

   e. preparing all pleadings, including motions, applications,
      answers, orders, reports and papers necessary or otherwise
      beneficial to the administration of the Debtor's estate;

   f. representing the Debtor in connection with obtaining
      authorized use of cash collateral;

   g. advising the Debtor in connection with any potential sale
      of its assets or business;

   h. appearing before the Court and any appellate courts to
      represent the interests of the Debtor's estate;

   i. consulting with the Debtor regarding tax, environmental,
      employment, pension, real estate and other matters;

   j. taking any necessary action on behalf of the Debtor to
      negotiate, prepare on behalf of the Debtor and obtain
      approval of a Chapter 11 plan and all documents related
      thereto; and

   k. performing all other necessary or otherwise beneficial
      legal services for the Debtor in connection with the
      prosecution of the chapter 11 case, including: (i)
      analyzing the Debtor's leases and contracts and the
      assumptions, rejections or assignments thereof (ii)
      analyzing the validity of liens against the Debtor; and
      (iii) advising the Debtor on corporate and litigation
      matters.

The Debtor will pay Bingham McCutchen according to these hourly
rates, in addition to necessary out-of-pocket expenses:

      Partners                 $605 to $1,095
      Of Counsel               $425 to $1,085
      Counsel/Associates       $375 to $730
      Paraprofessionals        $135 to $390
      Staff Attorneys          $185 to $320

Ronald J. Silverman, Esq., a partner at Bingham McCutchen, assures
the Court that his firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code.
.

                       About Evergreen Solar

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

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

Laura Davis Jones, Esq., and Timothy P. Cairns, Esq., at Pachulski
Stang Ziehl & Jones LLP, serve as co-counsel.  Zolfo Cooper LLC is
the financial advisor.  Epiq Bankruptcy Solutions has been tapped
as claims agent.

In conjunction with the Chapter 11 filing, the Company entered
into a restructuring support agreement with certain holders of
more than 70% of the outstanding principal amount of the Company's
13% convertible senior secured notes.  As part of the bankruptcy
process the Company will undertake a marketing process and will
permit all parties to bid on its assets, as a whole or in groups
pursuant to 11 U.S.C. Sec. 363.  An entity formed by the
supporting noteholders, ES Purchaser, LLC, entered into an asset
purchase agreement with the Company to serve as a "stalking-horse"
and provide a "credit-bid" pursuant to the Bankruptcy Code for
assets being sold.

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


EVERGREEN SOLAR: Taps Hilco Industrial as Marketing & Sales Agent
-----------------------------------------------------------------
Evergreen Solar, Inc., asks the U.S. Bankruptcy Court for the
District of Delaware for authority to employ Hilco Industrial LLC
as exclusive marketing and sales agent, effective as of the
Petition Date.

The Debtor needs Hilco Industrial to:

   * develop an advertising and marketing plan for the Debtor's
     assets;

   * implement the advertising and marketing plan as deemed
     necessary by Hilco to maximize net recovery on the assets;

   * prepare for the sale of the Assets, including gathering
     specifications and photographs for pictorial brochures;

   * make the assets available for viewing by potential buyers on
     an appointment-only basis;

   * work with the Debtor for the sale of assets either through a
     negotiated sale or auction for cash to the highest bidder
     "as is," "where is," and in accordance with the terms of the
     AMA;

   * work with the Debtor to set up a mutually acceptable
     procedure for collecting, investing (if any), protecting and
     disbursing purchaser deposits and sales proceeds, in one or
     more accounts financial institutions reasonably acceptable
     to both parties, in compliance with applicable sales, use
     and other tax laws and regulations and with the rights of
     the Debtor's creditors, which account(s) may be opened with
     a third party escrow per a mutually agreeable escrow
     agreement;

   * submit a complete auction report to the Debtor within three
     weeks after the collection of funds from the auction;

   * Hilco will coordinate the site clearance of the sold assets.
     The removal costs of the sold Assets will be the
     responsibility of the buyers and not the Debtor.  Hilco will
     first attempt to sell all the Assets and any Asset that
     remains unsold, Hilco will then attempt to have unsold
     Assets removed at no cost to the Debtor. Any unsold Asset
     that requires a cost for removal, Hilco will obtain quotes
     for the cost of removal and then submit to the Debtor for
     approval. Hilco will supervise the removal and pay any
     approved costs from sales proceeds; and

   * certain additional services.

Under an asset marketing agreement, Hilco Industrial will engage
in the a systematic marketing and sales process, consisting of
these four phases or options, with the timing and approach to
each phase to be mutually agreed by Hilco and the Debtor:

   -- Phase One: Turn-Key Sale of the Assets along with a
      sublease, assignment or Company purchase then sale of the
      Facility;

   -- Phases Two and Three: Private Sales/Liquidation of the
      Assets as complete lines and components thereof; and

   -- Phase Four: WebCast Auction Sale for balance of the Assets,
      if required.

The Debtor will pay Hilco Industrial according to these plans:

(a) Phase I Commission: Hilco will receive a one-time commission
    based on the gross proceeds from the sale of the Assets or
    the Facility in accordance with a schedule, in the event of a
    Phase 1 sale of the Assets. "Gross Proceeds" will mean the
    aggregate cash or non-cash consideration received by the
    Debtor as consideration for the Assets and sublease,
    assignment or Debtor purchase then sale of Facility, if
    applicable, and subject to the carve-outs for certain third
    parties and their clients.  The amounts payable will be paid
    in a lump sum at closing for the applicable Assets.

    Gross Proceeds                   Commission to Hilco
    --------------                   -------------------
    $0 to $65,000,000                         5%
    $65,000,001 to $75,000,000                6%
    $75,000,001 and over                     7.5%

    Phase I Carveouts: Before executing the AMA, the Debtor had
    been in discussions with these companies regarding a
    potential sale or sales: AUO Solar, Sovello, and Evirotech,
    or any of the owned subsidiaries of these entities and any
    entity wholly owned by these entities created for the purpose
    of consummating a transaction to purchase an Asset.

    If any of the above listed or described companies purchases
    Assets, Hilco's commission will be calculated as:

    Gross Proceeds                   Commission to Hilco
    --------------                   -------------------
    $0 to $65,000,000                        1.5%
    $65,000,001 to $75,000,000                5%

(b) Phase II through IV Commission: Alternatively, in the event
    of sales of the Assets under Phase II & III or Phase IV,
    then, in total consideration of its services and obligations,
    subject to the rebate obligations above, Hilco will be
    entitled to charge and receive for its own account an
    industry standard gross buyer's premium in connection with
    the sale of the Assets of 15% for Assets that are sold or
    auctioned. For purposes of clarification, the Buyer's Premium
    is a fee charged in addition to the sale price and is paid by
    the buyer of the Asset or Assets. Such Buyer's Premium may be
    segregated from the process of collection of proceeds from
    the applicable buyer(s) as mutually agreed by the Parties,
    and Hilco will receive the Buyer's Premium amounts net of
    portions payable to the Debtor.

    The Debtor shall be entitled to receive portions of the
    collected Buyer's Premiums in accordance with this schedule:

    Gross Proceeds             Portion to Debtor     Net to Hilco
    --------------             -----------------     ------------
    $0.00 to $20,000,000               5%                 10%
    $20,000,001 to $25,000,000         3%                 12%
    $25,000,001 to $30,000,000         2%                 13%
    $30,000,001 and over               1%                 14%

In the event the Facility, including the leasehold interest, is
sold in Phase II through IV, Hilco will earn a fee equal to 5% of
the Gross Sale Proceeds (6% to the extent there is a cooperating
broker involved). For purposes hereof, "Gross Sale Proceeds" will
mean the aggregate cash or non-cash consideration received by the
Debtor in consideration of the Facility, including the leasehold
interest.

Section IV.D of the AMA will be amended to include: "The Debtor
shall reimburse Hilco for all reasonable and customary expenses
incurred in connection with the sale of the Facility up to
$25,000, provided that, Hilco shall not incur any expenses
without first obtaining the Debtor's consent."

Hilco assures the Court that it is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.

                       About Evergreen Solar

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

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

Ronald J. Silverman, Esq., and Scott K. Seamon, Esq., at Bingham
McCutchen LLP, serve as general bankruptcy counsel to the Debtor.
Laura Davis Jones, Esq., and Timothy P. Cairns, Esq., at Pachulski
Stang Ziehl & Jones LLP, serve as co-counsel.  Zolfo Cooper LLC is
the financial advisor.  Epiq Bankruptcy Solutions has been tapped
as claims agent.

In conjunction with the Chapter 11 filing, the Company entered
into a restructuring support agreement with certain holders of
more than 70% of the outstanding principal amount of the Company's
13% convertible senior secured notes.  As part of the bankruptcy
process the Company will undertake a marketing process and will
permit all parties to bid on its assets, as a whole or in groups
pursuant to 11 U.S.C. Sec. 363.  An entity formed by the
supporting noteholders, ES Purchaser, LLC, entered into an asset
purchase agreement with the Company to serve as a "stalking-horse"
and provide a "credit-bid" pursuant to the Bankruptcy Code for
assets being sold.

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


EVERGREEN SOLAR: Taps Zolfo Cooper as Financial Advisor
-------------------------------------------------------
Evergreen Solar, Inc., asks the U.S. Bankruptcy Court for the
District of Delaware for authority to employ Zolfo Cooper LLC as
bankruptcy consultants and special financial advisors, effective
as of the Petition Date.

The Debtor needs Zolfo Cooper to perform these services:

   (a) advise and assist management in organizing the Debtor's
       resources and activities so as to effectively and
       efficiently plan, coordinate and manage the Chapter 11
       process and communicate with customers, lenders,
       suppliers, employees, shareholders and other parties in
       interest;

   (b) assist management in designing and implementing programs
       to manage or divest assets, improve operations, reduce
       costs and restructure as necessary with the objective of
       rehabilitating the business;

   (c) advise the Debtor concerning interfacing with Official
       Committees, other constituencies and their professionals,
       including the preparation of financial and operating
       information required by such parties or the Bankruptcy
       Court;

   (d) advise and assist management in the development of a
       Chapter 11 Plan, including the related assumptions and
       rationale, along with other information to be included in
       the Disclosure Statement;

   (e) advise and assist the Debtor in forecasting, planning,
       controlling and other aspects of managing cash, and, if
       necessary, obtaining DIP or Exit financing;

   (f) advise the Debtor with respect to resolving disputes and
       otherwise managing the claims process;

   (g) advise and assist the Debtor in negotiating a Chapter 11
       Plan with the various creditor and other constituencies;

   (h) as requested, render expert testimony concerning the
       feasibility of a Chapter 11 Plan and other matters that
       may arise in the case; and

   (i) provide other services as may be required by the Debtor.

The Debtor assures the Court that Zolfo Cooper is a "disinterested
person" as the term is defined in Section 101(14) of the
Bankruptcy Code.

                       About Evergreen Solar

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

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

Ronald J. Silverman, Esq., and Scott K. Seamon, Esq., at Bingham
McCutchen LLP, serve as general bankruptcy counsel to the Debtor.
Laura Davis Jones, Esq., and Timothy P. Cairns, Esq., at Pachulski
Stang Ziehl & Jones LLP, serve as co-counsel.  Zolfo Cooper LLC is
the financial advisor.  Epiq Bankruptcy Solutions has been tapped
as claims agent.

In conjunction with the Chapter 11 filing, the Company entered
into a restructuring support agreement with certain holders of
more than 70% of the outstanding principal amount of the Company's
13% convertible senior secured notes.  As part of the bankruptcy
process the Company will undertake a marketing process and will
permit all parties to bid on its assets, as a whole or in groups
pursuant to 11 U.S.C. Sec. 363.  An entity formed by the
supporting noteholders, ES Purchaser, LLC, entered into an asset
purchase agreement with the Company to serve as a "stalking-horse"
and provide a "credit-bid" pursuant to the Bankruptcy Code for
assets being sold.

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


FAITHSHARES CHRISTIAN: FaithShares Trust to Close & Liquidate Fund
------------------------------------------------------------------
After careful consideration, the Board of Trustees of the
FaithShares Trust has determined to close and liquidate the
FaithShares Christian Values Fund (FOC).

The last day of trading of the Fund's shares on the NYSE Arca will
be Aug. 31, 2011.  Shareholders may sell Fund shares through a
broker in the standard manner through this date.  Customary
brokerage charges may apply to such transactions.  The Fund will
be closed to new investors as of Aug. 31, 2011.  Between Aug. 31
and Sept. 14, the Fund will be in the process of liquidating its
portfolio assets.  This will cause the Fund to increase its cash
holdings and deviate from the investment objective and strategies
stated in the prospectus.

Shareholders remaining in the Fund on Sept. 14, 2011 will have
their shares redeemed automatically on this date and will receive
cash in an amount equal to the net asset value of their shares as
of the close of business on Sept. 14, 2011.  This amount includes
any accrued capital gains and dividends.  Shareholders remaining
in the Fund on Sept. 14 will not be charged any transaction fees
by the Fund.  The net asset value of the Fund will reflect the
costs of closing the Fund.

FaithShares Funds are distributed by SEI Investments Distribution
Co., which is not affiliated with FaithShares Advisors, LLC or any
of its affiliates.


FANNIE MAE: Funds Group Sues Conservator Over Recovery Limit
------------------------------------------------------------
American Bankruptcy Institute reports that a pension fund
investors group sued Fannie Mae's conservator over a rule that
could limit their recovery for damages stemming from securities
fraud.

                          About Fannie Mae

Federal National Mortgage Association, aka Fannie Mae, is a
government-sponsored enterprise that was chartered by U.S.
Congress in 1938 to support liquidity, stability and affordability
in the secondary mortgage market, where existing mortgage-related
assets are purchased and sold.

The Company's balance sheet at Dec. 31, 2010 showed
$3.222 trillion in total assets, $3.224 trillion in total
liabilities and a $2.52 billion total deficit.

Fannie Mae has been under conservatorship, with the Federal
Housing Finance Agency acting as conservator, since September 6,
2008.  As conservator, FHFA succeeded to all rights, titles,
powers and privileges of the company, and of any shareholder,
officer or director of the company with respect to the company and
its assets.  The conservator has since delegated specified
authorities to Fannie Mae's Board of Directors and has delegated
to management the authority to conduct day-to-day operations.

The U.S. Department of the Treasury owns Fannie Mae's senior
preferred stock and a warrant to purchase 79.9% of its common
stock, and Treasury has made a commitment under a senior preferred
stock purchase agreement to provide Fannie with funds under
specified conditions to maintain a positive net worth.


FELIX INVESTMENTS: GE Capital Obtains Stay Relief
-------------------------------------------------
Bankruptcy Judge Anthony J. Metz, III, granted the request of GE
Capital Franchise Finance Corporation for relief from the
automatic stay in the bankruptcy case of Felix Investments, Inc.,
so that GE may exercise its non-bankruptcy rights with respect to
the leased properties located at (i) 2402 East 38th Street,
Indianapolis, Marion County, Indiana, (ii) 3749 East Washington
Street, Indianapolis, Marion County, Indiana, and (iii) 6014 East
46th Street, Indianapolis, Marion County, Indiana.  Felix earns
its revenue by collecting rent from subtenants who operate a
Popeye's Chicken franchise on the premises.  Felix is at least
$50,000 in arrears on its rent owed to GE.  Felix's subtenants are
gone, having lost their Popeye's Chicken restaurant franchise and
the stores have "gone dark". There has been no business activity
in the Leased Properties since September 14, 2010.

A copy of the Court's Aug. 26, 2011 Findings of Fact, Conclusions
of Law and Order Granting Relief from Stay is available at
http://is.gd/O7RLJqfrom Leagle.com.

Felix Investments, Inc., filed for Chapter 11 (Bankr. S.D. Ind.
Case No. 11-00178) on Jan. 10, 2011, listing under $1 million in
assets and debts.  A copy of the petition is available at no
charge at http://bankrupt.com/misc/insb11-00178.pdf


FIRST BANKS: Posts $18 Million Net Loss in 2nd Quarter
------------------------------------------------------
First Banks, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $18.0 million for the three months ended
June 30, 2011, compared with a net loss of $65.0 million for the
same period last year.

The Company reported a net loss of $24.1 million for the six
months ended June 30, 2011, compared with a net loss of
$93.0 million for the same period of 2010.

The Company recorded net interest income of $46.7 million and
$95.2 million for the three and six months ended June 30, 2011,
respectively, compared to $60.7 million and $123.0 million for the
comparable periods in 2010.

The Company's balance sheet at June 30, 2011, showed
$6.919 billion in total assets, $6.610 billion in total
liabilities, and stockholders' equity of $309.3 million.

The Company and First Bank are subject to various regulatory
capital requirements administered by the federal and state banking
agencies.

The Company did not meet the minimum regulatory capital standards
established for bank holding companies by the Federal Reserve at
June 30, 2011, and Dec. 31, 2010.

At June 30, 2011, the Company's required and actual capital ratios
were as follows:

                                             Actual    Required
                                             Ratio      Ratio

Total capital (to risk-weighted assets):      3.38%      8.0%
Tier 1 capital (to risk-weighted assets):     1.69%      4.0%
Tier 1 capital (to average assets):           1.03%      4.0%

First Bank was categorized as well capitalized at June 30, 2011,
and Dec. 31, 2010, under the prompt corrective action provisions
of the regulatory capital standards.

A copy of the Form 10-Q is available at http://is.gd/mWvMb3

First Banks, Inc., is a registered bank holding company
incorporated in Missouri in 1978 and headquartered in St. Louis,
Missouri.  The Company operate through its wholly owned subsidiary
bank holding company, The San Francisco Company, or SFC,
headquartered in St. Louis, Missouri, and SFC's wholly owned
subsidiary bank, First Bank, also headquartered in St. Louis,
Missouri.


FIRST MARINER: Awaits Results of NASDAQ Listing Appeal
------------------------------------------------------
First Mariner Bancorp, on Aug. 25, 2011, received a letter from
the NASDAQ Stock Market notifying the Company that the Company has
not regained compliance with Nasdaq Listing Rule 5450(a)(1) within
the 180-calendar-day extension previously granted by NASDAQ.

Nasdaq Listing Rule 5450(a)(1) requires maintenance of a minimum
bid price of $1.00 per share for continued inclusion on The NASDAQ
Capital Market, and in connection with the transfer of the listing
of the Company's common stock to The NASDAQ Capital Market on
Feb. 23, 2011, the Company was granted an extension of 180 days,
or until Aug. 22, 2011, within which to comply with NASDAQ's $1.00
minimum bid price requirement.  The Aug. 25, 2011, notification
further states that failure to regain compliance with Nasdaq
Listing Rule 5450(a)(1) serves as an additional basis for
delisting the Company's securities from The Nasdaq Stock Market.

The Company has appealed the delisting determination to a NASDAQ
Listing Qualifications Panel and a hearing was held on Aug. 25,
2011.  The Company is awaiting the results of the hearing and
expects to receive a ruling within 30 days.  The Company's stock
will continue to trade on the NASDAQ Capital Market during this
time.

                        About First Mariner

Headquartered in Baltimore, Maryland, First Mariner Bancorp
-- http://www.1stmarinerbancorp.com/-- is a bank holding company
whose business is conducted primarily through its wholly owned
operating subsidiary, First Mariner Bank, which is engaged in the
general general commercial banking business.  First Mariner was
established in 1995 and has total assets in excess of $1.3 billion
as of Dec. 31, 2010.

"Quantitative measures established by regulation to ensure capital
adequacy require the [First Mariner] Bank to maintain minimum
amounts and ratios of total and Tier I capital to risk-weighted
assets, and of Tier I capital to average quarterly assets," the
Company said in the filing.  "As of March 31, 2011, the Bank was
"under-capitalized" under the regulatory framework for prompt
corrective action."

The Company's balance sheet at June 30, 2011, showed $1.16 billion
in total assets, $1.17 billion in total liabilities, and a
$13.42 million total stockholders' deficit.

As reported in the TCR on April 4, 2011, Stegman & Company, in
Baltimore, expressed substantial doubt about First Mariner
Bancorp's ability to continue as a going concern, following the
Company's 2010 results.  The independent auditors noted that the
Company has suffered recurring losses and has a limited capital
base.

                        Bankruptcy Warning

As of June 30, 2011, First Mariner Bank's and the Company's
capital levels were not sufficient to achieve compliance with the
higher capital requirements they were required to meet by June 30,
2010.  The failure to maintain these capital requirements could
result in further action by their regulators.

On Sept. 18, 2009, the Bank entered into an Agreement with the
Federal Deposit Insurance Corporation and the Commissioner of
Financial Regulation for the state of Maryland, pursuant to which
it consented to the entry of an Order to Cease and Desist, which
directs the Bank to (i) increase its capitalization, (ii) improve
earnings, (iii) reduce nonperforming loans, (iv) strengthen
management policies and practices, and (v) reduce reliance on
noncore funding.  The September Order required the Bank to adopt a
plan to achieve and maintain a Tier I leverage capital ratio of at
least 7.5% and a total risk-based capital ratio of at least 11% by
June 30, 2010.  We did not meet the requirements at June 30, 2010,
December 31, 2010, or June 30, 2011.  The failure to achieve these
capital requirements could result in further action by its
regulators.

First Mariner currently does not have any capital available to
invest in the Bank and any further increases to the Company's
allowance for loan losses and operating losses would negatively
impact the Company's capital levels and make it more difficult to
achieve the capital levels directed by the FDIC and the
Commissioner.

Because the Company has not met all of the capital requirements
set forth in the September Order within the prescribed timeframes,
if the Company's revised capital plan is not approved or if the
Company is not granted a waiver of those requirements, the FDIC
and the Commissioner could take additional enforcement action
against the Company, including the imposition of monetary
penalties, as well as further operating restrictions.  The FDIC or
the Commissioner could direct the Company to seek a merger partner
or possibly place the Bank in receivership.  If the Bank is placed
into receivership, the Company would cease operations and
liquidate or seek bankruptcy protection.  If the Company were to
liquidate or seek bankruptcy protection, the Company does not
believe that there would be assets available to holders of the
capital stock of the Company.


FLOORS-2-GO: Goes Into Administration, Lays Off 354 Workers
-----------------------------------------------------------
Hardwood Floors reports that about 192 workers at the U.K.'s
Floors-2-Go -- one of the UK's biggest wood flooring retailers --
were laid off after the company went into "administration" the
previous day.  The move is similar to the U.S.'s Chapter 11
bankruptcy proceeding.

According to the report, at first, 354 jobs were at stake;
however, the Company's appointed administrator sold 35 store
outlets to an outfit called Nixon & Hope, which is led by two
former Floors-2-Go managers: David Vizor and Parjinder Sangha.

Hardwood Floors, citing report from the Telegraph, says the
remaining customer orders are expected to be filled by Nixon &
Hope, and that Floors-2-Go creditors should be repaid in full.


FLURIDA GROUP: Reports $9,505 Net Income in 2nd Quarter
-------------------------------------------------------
Flurida Group, Inc., filed its quarterly report on Form 10-Q,
reporting net income of $9,505 on $4.0 million of revenues for
the three months ended June 30, 2011, compared with net income of
$91,811 on $3.3 million of revenues for the same period last year.

The Company reported net income of $68,364 on $7.0 million of
revenues for the six months ended June 30, 2011, compared with net
income of $145,380 on $5.4 million of revenues for the same period
of 2010.

The Company's balance sheet at June 30, 2011, showed $5.1 million
in total assets, $3.5 million in total liabilities, all current,
and stockholders' equity of $1.5 million.

Enterprise CPAs, Ltd., in Chicago, Ill., expressed substantial
doubt about Flurida Group's ability to continue as a going
concern, following the Company's 2010 results.  The independent
auditors noted that Company's operating history and its customer
concentration may raise doubt about its ability to continue as a
going concern.  "If the Company is unable to generate significant
revenue or secure financing, then the Company may be required to
cease or curtail its operations."

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

Based in Chicago, Flurida Group, Inc., sells appliance parts in
Asia, Europe, Australia, North and South America.  The main
products that the Company sells to these markets are icemakers,
motors, ice water dispensing system, and appliance assemblies.
is the sale of appliance parts in Asia, Europe, Australia, North
and South America.  The main products that the Company sells to
these markets are icemakers, motors, ice water dispensing system,
and appliance assemblies.  These parts are manufactured in China
by Zhong Nan Fu Rui Mechanical Electronics Manufacturing Co.,
Ltd., which is owned 100% by Mr. Jianfeng Ding, the President of
the Flurida Group.


FRISCO PS: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Frisco PS Hotel. Ltd.
        dba Holiday Express Inn & Suites
        4220 Preston RD
        6076 Osage Place
        Frisco, TX 75034

Bankruptcy Case No.: 11-42622

Chapter 11 Petition Date: August 25, 2011

Court: United States Bankruptcy Court
       Eastern District of Texas (Sherman)

Debtor's Counsel: Michael J. Wiss, Esq.
                  WISS & FREEMYER, LLP
                  11882 Greenvile Ave., Suite 111
                  Box 11
                  Dallas, TX 75243-3567
                  Tel: (972) 889-9050
                  Fax: (972) 889-1175
                  E-mail: mjwiss@hotmail.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/txeb11-42622.pdf

The petition was signed by Pardeep K. Sharma, president of Frisco
Hotel Corp., Debtor's general partner.


FUSION TELECOMMUNICATIONS: Borrows $47,000 from Marvin Rosen
------------------------------------------------------------
Fusion Telecommunications International, Inc., on Aug. 19, 2011,
borrowed $47,000 from Marvin S Rosen, a Director of the Company.
This note (a) is payable on demand in full upon 10 days notice of
demand from the lender, (b) bears interest on the unpaid principal
amount at the rate of 3.25% per annum, and (c) grants the lender a
collateralized security interest, pari passu with other lenders,
in the Company's accounts receivable.  The proceeds of this note
are to be used primarily for general corporate purposes.

                  About Fusion Telecommunications

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

The Company's balance sheet at June 30, 2011, showed $4.81 million
in total assets, $14.33 million in total liabilities and a $9.52
million total stockholders' deficit.

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

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


G&S LIVINGSTON: Taps Kosher & Company as Accountant
---------------------------------------------------
G&S Livingston Realty Inc. asks the U.S. Bankruptcy Court for the
Southern District of New York for permission to employ Koshers &
Company as accountant.

The Debtor tells the Court that the retention of an accountant is
necessary and appropriate to assist and advise the Debtor in
connection with all accounting and financial matters related to
the Debtor's reorganization.

The current hourly rate of partners of the firm is $350.  The
hourly rate charged for other professionals of the firm is $200.

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

G&S Livingston Realty, Inc., in New York, filed for Chapter 11
bankruptcy (Bankr D. N.J. Case No. 11-31751) on July 21, 2011,
Judge Morris Stern presiding.  Stephen V. Falanga, Esq., at
Connell LLP, serves as bankruptcy counsel.  In its petition, the
Debtor estimated $10 million to $50 million in assets and debts.
The petition was signed by Greg Wasser, president.


G&S LIVINGSTON: Taps Stavitsky & Assoc. as Special Tax Counsel
--------------------------------------------------------------
G&S Livingston Realty Inc. asks the U.S. Bankruptcy Court for the
Southern District of New York for permission to employ Stavitsky &
Associates LLC as its special tax appeal counsel.

The firm will continue to prosecute the Debtor's tax appeals.
There are currently five matters pending in the New Jersey Tax
Court (Case Nos.: 010940-2007; 005637-2008; 007197-2009; 007186-
2009; 006550-2010).  The firm will also provide material legal
advice to the Debtor relating to these matters.

According to the Debtor, the retention of the firm will enable the
Debtor to maintain continuity with respect to the handling of
issues relating to these matters and continue with the
uninterrupted prosecution of the appeals.

The firm will charge 25% of the amount of tax savings realized by
the Debtor, plus reimbursement of filing fees and appraisal costs.

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

G&S Livingston Realty, Inc., in New York, filed for Chapter 11
bankruptcy (Bankr D. N.J. Case No. 11-31751) on July 21, 2011,
Judge Morris Stern presiding.  Stephen V. Falanga, Esq., at
Connell LLP, serves as bankruptcy counsel.  In its petition, the
Debtor estimated $10 million to $50 million in assets and debts.
The petition was signed by Greg Wasser, president.


G&S LIVINGSTON: Hires Connell Foley as Bankruptcy Counsel
---------------------------------------------------------
The U.S. Bankruptcy Court for the District of New Jersey has
authorized G&S Livingston Realty, Inc., to employ Connell Foley
LLP as counsel in connection with its Chapter 11 bankruptcy case
and with the general legal needs of the Debtor during the duration
of its bankruptcy case, inclusive of ongoing land use and
litigation matters.

Connell Foley will be compensated at its customary hourly rates.

Connell Foley has provided legal services to the Debtor in the
past and is currently representing the Debtor in its prosecution
of a lawsuit for the enforcement of a rent guaranty.  Connell
Foley has also represented (and in certain cases continues to
represent) certain of the Debtor's affiliated and unaffiliated
creditors in other proceedings unrelated to the Debtor's
bankruptcy case, including G&S Investors, Inc., PSE&G and RNK
Capital LLC.

G&S Livingston Realty, Inc., in New York, filed for Chapter 11
bankruptcy (Bankr D. N.J. Case No. 11-31751) on July 21, 2011,
Judge Morris Stern presiding.  In its petition, the Debtor
estimated $10 million to $50 million in assets and debts.  The
petition was signed by Greg Wasser, president.

The Debtor filed together with its bankruptcy petition a
prepackaged Chapter 11 Plan of Reorganization it negotiated with
KABR Real Estate Investment Partners, LLC.  The Plan contemplates
full payment of the Debtor's allowed unsecured claims through a
series of transaction with KABR and its related entities.


G&S LIVINGSTON: Seeks to Employ Reed Smith as Tax Counsel
---------------------------------------------------------
G&S Livingston Realty, Inc., seeks permission from the U.S.
Bankruptcy Court for the District of New Jersey to employ Reed
Smith LLP as its special corporate and tax counsel, nunc pro tunc
to the Petition Date.

Reed Smith will provide material legal advice to the Debtor
relating to specialized corporate and tax matters that may arise
in connection with the confirmation and effectuation of the
Debtor's proposed Plan of Reorganization and represent the Debtor
in connection with the consummation of the transactions
contemplated by the Plan.

The Debtor will pay Reed Smith according to its professionals'
customary hourly rates:

       Title                         Rate per Hour
       -----                         -------------
       Partners                       $680 to $750
       Associates                     $310 to $530
       Paralegals                     $200 to $260

Michael Meyers will be retained at $750 per hour.

The Debtor will also reimburse Reed Smith for expenses incurred.

Gregg Wasser, president of the Debtor, disclosed that Reed Smith
has provided legal services to the Debtor in the past, inclusive
of providing tax and corporate advice to the Debtor's present
bankruptcy.  Reed Smith has also represented creditors of the
Debtor in other unrelated proceedings.  He added that as of the
Petition Date, Reed Smith is a general unsecured creditor of the
Debtor.

Mr. Wasser maintains that Reed Smith does not represent or hold
any interest adverse to the Debtor or the estate with respect to
the matter for which the firm will be retained under Seciton
327(e) of the Bankruptcy Code.

G&S Livingston Realty, Inc., in New York, filed for Chapter 11
bankruptcy (Bankr D. N.J. Case No. 11-31751) on July 21, 2011,
Judge Morris Stern presiding.  Stephen V. Falanga, Esq., at
Connell LLP, serves as bankruptcy counsel.  In its petition, the
Debtor estimated $10 million to $50 million in assets and debts.
The petition was signed by Greg Wasser, president.

The Debtor filed together with its bankruptcy petition a
prepackaged Chapter 11 Plan of Reorganization it negotiated with
KABR Real Estate Investment Partners, LLC.  The Plan contemplates
full payment of the Debtor's allowed unsecured claims through a
series of transaction with KABR and its related entities.


GALP GRAYRIDGE: Court Dismisses Chapter 11 Bankruptcy Case
----------------------------------------------------------
The Hon. Jeff Bohm of the U.S. Bankruptcy Court for the Southern
District of Texas dismissed the Chapter 11 case of GALP Grayridge
Limited Partnership at the behest of Judy A. Robbins, the United
States Trustee for Region 7.

The Court denied approval of Amended Disclosure Statement on May
16, 2011.  The U.S. Trustee said the Debtor does not have the
ability to reorganize, and appears to have abandoned prosecution
of the case.

                       About GALP Grayridge

Houston, Texas-based GALP Grayridge Limited Partnership is a
single asset real estate business entity.  It owns these single
asset real estate in Texas: C GALP Grayridge Limited Partnership -
Chapter 11 (10-40007); C Vinings at West Oaks Apartments (512
units); C 15250 Grey Ridge Drive, Houston, TX 77082; and C NW
quadrant of Harris County Toll Road and Hwy 6.

GALP Grayridge filed for Chapter 11 bankruptcy protection (Bankr.
S.D. Tex. Case No. 10-40007) on Nov. 1, 2010.  Matthew Hoffman,
Esq., at the Law Offices of Matthew Hoffman, P.C., serves as the
Debtor's bankruptcy counsel.  The Debtor estimated its assets and
debts at $10 million to $50 million.


GB HERNDON: Court Slows Down Planned Probe Against Bank
-------------------------------------------------------
Bankruptcy Judge S. Martin Teel, Jr., denied GB Herndon And
Associates, Inc.'s emergency motion to compel a bank to produce
documents in response to subpoena and to attend deposition.
Instead, the Court gave the bank 30 days after service of the
subpoena on it to respond.  The court's order did not identify the
bank, which is facing litigation with the Debtor.  The judge said
the Debtor's notice of deposition failed to comply with Fed. R.
Civ. P. 30(b)(6) to apprise the bank of the matters for
examination so that the bank would know who to designate to
testify.  Accordingly, the bank was not required to designate an
individual to testify at the deposition.  The subpoena also
commanded production of documents within less than the 30 days
allowed by Fed. R. Civ. P. 34 for responding to a request for
production of documents.  A copy of Judge Teel's Aug. 29, 2011
Memorandum Decision is available at http://is.gd/0r1gHLfrom
Leagle.com.

GB Herndon and Associates, Inc., filed for Chapter 11 bankruptcy
(Bankr. D. D.C. Case No. 10-00945) on Sept. 24, 2010.


GELT PROPERTIES: Taps Eisenberg Gold as Special Counsel
-------------------------------------------------------
Gelt Properties LLC and its debtor-affiliates ask the U.S.
Bankruptcy Court for the Eastern District of Pennsylvannia for
permission to employ Eisenberg, Gold & Cettei P.C. as its special
counsel to provide proper legal counsel to the Debtors with regard
to defending against certain actions.

The Debtors say they owe the firm $1,898 for legal services before
it filed for bankruptcy.

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

                       About Gelt Properties

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


GELT PROPERTIES: Taps Cohen And Foreman as Special Counsel
----------------------------------------------------------
Gelt Properties LLC and its debtor-affiliates ask the U.S.
Bankruptcy Court for the Eastern District of Pennsylvania for
permission to employ Cohen and Forman LLC as their special counsel
to represent the Debtors' interest in the various pending legal
matters.

The Debtors say they have no outstanding fees owed to the firm.

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

                       About Gelt Properties

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


GENERAL MOTORS: New GM's $450MM UAW Dispute Headed to Michigan
--------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that General Motors Co., the formal name for new GM, won't
be having the bankruptcy court rule on a $450 million dispute with
the United Auto Workers Union.  In sending the suit to Michigan,
a bankruptcy judge in New York wrote a 28-page opinion where he
said, "Frankly, I bring nothing to the table here."

Mr. Rochelle recounts that the controversy traces its roots to
1999 when old GM, then formally named General Motors Corp., spun
off parts maker Delphi Corp., which emerged from its own
bankruptcy reorganization in 2009 after new GM brought assets from
old GM.  In the spinoff, old GM agreed to make a $450 million
contribution to a trust providing retiree health benefits.  After
old GM sold the business, the union filed suit in Michigan in
April 2010 demanding that new GM make the contribution.

According to the report, the U.S. district judge in Michigan put
the lawsuit on ice while U.S. Bankruptcy Judge Robert E. Gerber in
New York ruled on a request by new GM that he take over the suit.
Judge Gerber decided last week that his approval of the sale to
new GM gave him the exclusive right to take over the union's
lawsuit.  Nonetheless, he declined to hear the case, saying the
bankruptcy court had no "particular knowledge or expertise," such
as "knowing what I intended" in approving the sale.

Given that the dispute is between two non-bankrupt entities, Judge
Gerber said it was proper for him to hear a suit only where the
"New York bankruptcy court has a significant interest or that
truly involves bankruptcy law or policy."  Judge Gerber said it
was also important that the lawsuit would have no effect old GM's
bankrupt estate or its creditors' recovery.

Judge Gerber, according to Mr. Rochelle, said the situation might
have been different were it a case where the buyer purchased an
asset free of a claim.  Here, he said, both sides have good
arguments based on the underlying documents.

                       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.


GIORDANO'S ENTERPRISES: Firms Gauge Interest, Real Estate Assets
----------------------------------------------------------------
Dow Jones' DBR Small Cap reports that with a bankruptcy sale on
the horizon, the Giordano's pizza chain formally announced that
the company is up for sale along with a mish-mash of other assets,
including six floors of office space atop its flagship restaurant
in downtown Chicago and a 50-acre failed housing development near
Disney World that sent the restaurant company's finances
spiraling.

                    About Giordano's Enterprises

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

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

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

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

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


GIORDANO'S ENTERPRISES: Hilco to Sell 14 Restaurant Properties
--------------------------------------------------------------
Fourteen company-owned properties of Giordano's, the storied
Chicago pizza restaurant chain, are now available for sale, either
as a portfolio or individually.  The properties include the
chain's flagship restaurant and building located at 740 North Rush
Street on Chicago's Gold Coast.

Giordano's, a casual dining concept best known for its "World
Famous Chicago Stuffed Pizza," filed for Chapter 11 bankruptcy
relief in February, 2011.  William Blair & Company and Hilco Real
Estate were retained to advise the debtors.  Bids are being
solicited for the going-concern business as well as the real
estate assets on a stand-alone basis.

Properties are located in the Chicago area, Florida and Arizona.
They include a mix of income producing restaurants and value-add
real estate opportunities.  Most locations are leased to the
corporate entity or franchisees.  The deadline for initial
indications of interest is set for September 8, 2011.

                     About Giordano's Enterprises

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

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

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

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

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


GREENHOUSE HOLDINGS: Posts $975,600 Net Loss in 2nd Quarter
-----------------------------------------------------------
GreenHouse Holdings, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $975,631 on $929,723 of revenues for
the three months ended June 30, 2011, compared with a net loss of
$1.1 million on $1.6 million of revenues for the same period last
year.

The Company reported a net loss of $2.2 million on $2.4 million of
revenues for the six months ended June 30, 2011, compared with a
net loss of $2.0 million on $2.7 million of revenues for the same
period of 2010.

The Company's balance sheet at June 30, 2011, showed $7.5 million
in total assets, $4.9 million in total liabilities, and
stockholders' equity of $2.6 million.

As reported in the TCR on April 8, 2011, PKF, in San Diego,
Calif., expressed substantial doubt about GreenHouse Holdings'
ability to continue as a going concern, following the Company's
2010 results.  The independent auditors noted that the Company had
an accumulated deficit of $6,753,036, a net loss and net cash used
in operations of $4,644,966 and $3,509,800, respectively, for the
year ended Dec. 31, 2010.

A copy of the Form 10-Q is available at http://is.gd/ztRW4S

San Diego, Calif.-based GreenHouse Holdings, Inc. (OTC BB: GRHU)
-- http://www.greenhouseintl.com/-- is a provider of energy
efficiency and sustainable facilities solutions.  The Company
designs, engineers and installs products and technologies that
enable its clients to reduce their energy costs and carbon
footprint.  The Company has two business segments, Energy
Efficiency Solutions (EES) and Sustainable Facilities Solutions
(SFS).  The Company serves residential, industrial, commercial,
government and military markets in the United States and abroad.


GREGORY INVESTMENTS: Case Summary & 5 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Gregory Investments, LLC
        121 Capista Drive
        Shorewood, IL 60404

Bankruptcy Case No.: 11-34679

Chapter 11 Petition Date: August 25, 2011

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

Judge: Carol A. Doyle

Debtor's Counsel: Chris D. Rouskey, Esq.
                  ROUSKEY AND BALDACCI
                  151 Springfield Ave
                  Joliet, IL 60435
                  Tel: (815) 741-2118
                  Fax: (815) 741-0670
                  E-mail: rouskey.baldacci@gmail.com

Scheduled Assets: $90,000

Scheduled Debts: $7,112,036

A list of the Company's five largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ilnb11-34679.pdf

The petition was signed by David G. Gregory, manager.


HALLWOOD ENERGY: Trustee Files $10M Loan Suit vs. Goldman Unit
--------------------------------------------------------------
Pete Brush at Bankruptcy Law360 reports that Hallwood Energy LP's
trustee on Thursday sued the commodities arm of Goldman Sachs
Group Inc. in Texas federal court, claiming its refusal to advance
the shale gas prospector $25 million breached a loan agreement and
caused $10.3 million in damage.

Goldman unit J. Aron & Co. was obligated to advance the $25
million, the amount remaining on a $65 million loan agreement
reached in 2006, according to the complaint filed by Hallwood
trustee Douglas J. Brickley, according to Law360.

                       About Hallwood Energy

Based in Dallas, Texas, Hallwood Energy, L.P. --
http://www.hallwoodenergy.com/-- is an upstream energy
corporation, engaging in the exploration, acquisition, development
and production of oil and gas properties.

The Company and five of its affiliates filed separate petitions
for Chapter 11 relief (Bankr. N.D. Tex. Lead Case No. 09-31253) on
March 1, 2009.  Kathleen M. Patrick, Esq., Michael R. Rochelle,
Esq, Scott Mark DeWolf, Esq., and Sean Joseph McCaffity, Esq., at
Rochelle McCullough L.L.P., represent the Debtors in their
restructuring efforts.

Blackhill Partners LLC serves as the Debtors' business consultant.
Brian A. Kilmer, Esq., at Okin Adams & Kilmer LLP, in Dallas, and
Brian D. Roman, Esq., at Okin Adams & Kilmer LLP, in Houston,
represent the official committee of unsecured creditors.  In its
bankruptcy petition, Hallwood listed assets between $50 million
and $100 million, and debts between $100 million and $500 million.


HARRY & DAVID: Wins Confirmation of Plan of Reorganization
----------------------------------------------------------
Harry and David Holdings, Inc. disclosed that the United States
Bankruptcy Court for the District of Delaware entered an order
confirming the company's Plan of Reorganization.  The Company
expects to emerge from bankruptcy on or around September 13th, in
advance of the 2011 holiday season.

"With the Court's official confirmation of our Plan, we've reached
a significant milestone for Harry & David and are excited to
emerge from the Chapter 11 process as a stronger company, better
positioned for long-term profitable growth.  We remain grateful
for the unwavering support of our dedicated partners, employees
and customers throughout the restructuring process," said Kay
Hong, Chief Restructuring Officer and interim Chief Executive
Officer.

As previously announced, the Plan allows the Company to convert
all of its approximately $200 million of outstanding public notes
into equity of the reorganized company.  The Plan also includes an
equity capital raise that will generate $55 million in equity
financing upon the Company's emergence from Chapter 11.  A group
of the Company's existing noteholders have agreed to backstop the
equity capital raise.  The Company will utilize proceeds from the
equity capital raise to satisfy obligations arising from its $55
million post-petition term loan.  Additionally, the Company has a
$100 million revolving loan commitment to finance its operations
after the Company exits Chapter 11.

"This fall, we plan to build on the momentum of our Fruit of the
Month Club with an outstanding pear harvest.  Going forward, we
will also continue our commitment to non-profit organizations such
as the Noreen Fraser Foundation, and the Nancy Davis "Race to
Erase MS" campaign," continued Ms. Hong.  "We are thrilled with
the new gifts that have been developed for the holiday season,
available beginning in mid-September, and we look forward to
continuing to deliver a terrific gift experience and unparalleled
customer service as Harry & David has done for generations."

Harry & David's investment banker is Rothschild Inc., its legal
advisor is Jones Day, and its financial advisor is Alvarez &
Marsal. The Company's bondholders are being advised by Stroock &
Stroock & Lavan LLP, as legal counsel, and Moelis & Company as
financial advisor.
                      About Harry & David

Medford, Oregon-based Harry & David Holdings, Inc. -- aka Bear
Creek Corporation; Bear Creek Direct Marketing, Inc.; Bear Creek
Stores, Inc.; Bear Creek Operations, Inc.; and Bear Creek
Orchards, Inc. -- is a multi-channel specialty retailer and
producer of branded premium gift-quality fruit and gourmet food
products and gifts marketed under the Harry & David(R),
Wolferman's(R) and Cushman's(R) brands.  It has 70 stores across
the country.

Harry & David Holdings filed for Chapter 11 bankruptcy protection
(Bankr. D. Del. Case No. 11-10884) on March 28, 2011.  Affiliates
Harry and David (Bankr. D. Del. Case No. 11-10885), Harry & David
Operations, Inc. (Bankr. D. Del. Case No. 11-10886), and Bear
Creek Orchards, Inc. (Bankr. D. Del. Case No. 11-10887) filed
separate Chapter 11 petitions.  The cases are jointly
administered, with Harry David Holdings as lead case.

David G. Heiman, Esq., Brad B. Erens, Esq., and Timothy W.
Hoffman, Esq., at Jones Day, are the Debtors' lead counsel.
Daniel J. DeFranceschi, Esq., Paul Noble Heath, Esq., and Zachary
Shapiro, Esq., at Richards Layton & Finger, serve as the Debtors'
local counsel.  Rothschild Inc. is the Debtors' investment banker.
Alvarez & Marsal LLC is the Debtors' financial advisor.  Garden
City Group Inc. is the Debtors' claims and notice agent.  McKinsey
Recovery & Transformation Services U.S. LLC is being tapped as
management consultants.

The Debtor also tapped DJM Realty Services, LLC, as real estate
consultants; Alvarez & Marsal North America to provide the Debtors
an interim chief executive officer and chief restructuring officer
and certain additional officers; and McKinsey Recovery &
Transformation Services U.S. LLC as their management consultant.

Kristopher M. Hansen, Esq., and Erez E. Gilad, Esq., at Stroock &
Stroock & Lavan LLP; Thomas B. Walper, Esq., at Munger, Tolles &
Olson LLP; and Ira S. Dizengoff, Esq., at Akin Gump Strauss Hauer
& Feld LLP are counsel to principal noteholders.  Moelis & Company
is the financial advisor to the principal noteholders.

Lowenstein Sandler has been retained as counsel to the unsecured
creditors committee.

The Debtors disclosed $304.3 million in total assets and
$360.8 million in total debts as of Dec. 25, 2010.

On April 7, 2011, the U.S. Trustee appointed an official committee
of unsecured creditors in the Debtors' cases.


HART STORES: Gets Initial CCAA Order From Quebec Court
------------------------------------------------------
Hart Stores Inc. disclosed that in order to restructure its
operations, it obtained an Initial Order from the Quebec Superior
Court under the Companies' Creditors Arrangement Act (Canada).
The Court granted Hart Stores protection under the CCAA for an
initial period expiring on September 29, 2011, to be extended as
required and approved by the Court.  While the Company is under
CCAA protection, all proceedings on the part of its creditors are
stayed.  Hart Stores believes that restructuring under the CCAA
will provide the Company with the best opportunity to develop a
viable business plan to ensure successful operations in the
future.

The Initial Order also authorizes Hart Stores to borrow an amount
of up to $20 million from Wells Fargo Capital Finance Corporation
Canada, the Company's current secured lender, pursuant to the
terms of a DIP commitment letter, in order to finance the
Company's liquidity needs during the restructuring period.
Advances made under the DIP facility will be secured by a court-
ordered charge over all of Hart Stores' assets.  No further
advances will be made under the Company's existing credit facility
with Wells Fargo.  The funding will assure the availability of
funds for payment to all employees of the Company and to suppliers
who deliver goods and services to the Company subsequent to the
issuance of the Initial Order.  The terms and conditions of the
restructuring plan have not yet been determined by Hart Stores.

All of the Hart Stores locations remain open for business.

RSM Richter Inc. has been appointed Monitor pursuant to the
Initial Order.  All inquiries regarding the CCAA proceedings
affecting Hart Stores should be directed to the Monitor.  A copy
of the Initial Order will be made available and may be viewed on
the Monitor's website at
http://www.rsmrichter.com/restructuring/HartStores.aspx.

                       About Hart Stores

Hart Stores Inc. operates a network of 92 mid-sized department
stores under the Hart, Bargain Giant and Geant des Aubaines
banners.  The stores are located in secondary and tertiary markets
throughout Eastern Canada where the Company has established a
dominant position in many of the communities that it serves.  The
stores offer an extensive and differentiated selection of national
and exclusive fashion apparel brands as well as family footwear,
home furnishings, giftware, toys and seasonal goods.


HD SUPPLY: To Sell All Interests in Plumbing Business to Hajoca
---------------------------------------------------------------
HD Supply, Inc., entered into a definitive agreement to sell all
of the issued and outstanding equity interests in its
Plumbing/HVAC business to Hajoca Corporation.  The transaction is
expected to close in September 2011 upon the satisfaction of
customary closing conditions, including obtaining requisite
government approvals.

                          About HD Supply

HD Supply, Inc., headquartered in Atlanta, Georgia, is one of the
largest North American wholesale distributors supporting
residential and non-residential construction and to a lesser
extent electrical consumption and repair and remodeling.  HDS also
provides maintenance, repair and operations services.  Its
businesses are organized around three segments: Infrastructure and
Energy; Maintenance, Repair & Improvement; and, Specialty
Construction.  HDS operates through approximately 800 locations
throughout the U.S. and Canada serving contractors, government
entities, maintenance professionals, home builders and
professional businesses.

The Company reported a net loss of $619 million on $7.47 billion
of revenue for the fiscal year ended Jan. 30, 2011, compared with
a net loss of $514 million on $7.42 billion of net sales for the
fiscal year ended Jan. 31, 2010.

The Company's balance sheet at Jan. 30, 2011 showed $7.09 billion
in total assets, $6.99 billion in total liabilities, and a
$96 million in stockholders' equity.

                           *     *     *

HD Supply carries 'Caa2' probability of default rating and
corporate family rating, with negative outlook, from Moody's
Investors Service, and a 'B' corporate credit rating, with
negative outlook, from Standard & Poor's Ratings Services.

In April 2010, when Moody's downgraded the ratings to
'Caa2' from 'Caa1', it said, "The downgrade results from Moody's
views that the construction industry, the main driver of HDS'
revenues, will continue to be weak for the foreseeable future,
pressuring the company's ability to generate meaningful levels of
earnings and free cash flow relative to its debt."


HEARUSA INC: Sale of Assets to Siemens Unit Approved
----------------------------------------------------
As reported in the Troubled Company Reporter on Aug. 2, 2011,
HearUSA, Inc. disclosed that Audiology Distribution, LLC, a wholly
owned subsidiary of Siemens Hearing Instruments, Inc. submitted
the highest and best bid for the purchase of substantially all of
the assets of the company in the July 29, 2011 Section 363 auction
conducted under bidding procedures established for HearUSA's
Chapter 11 bankruptcy proceedings.

On Aug. 17, 2011, the Bankruptcy Court issued an order approving
the transaction.

Pursuant to the terms of the Asset Purchase Agreement, the
Purchaser has agreed to purchase the acquired assets for a
purchase price estimated at approximately $109 million.  The
Purchase Price is comprised of $66.8 million in cash plus certain
assumed liabilities (which includes repayment or assumption of the
$10 million debtor-in-possession (DIP) financing provided by the
stalking horse bidder, William Demant Holdings A/S), plus the
payment of cure costs for assumed contracts, and the assumption of
various liabilities of the company.

In addition, Siemens has agreed to an unconditional waiver of its
right to receive any distribution with respect to the 6.4 million
shares of the Company's common stock that it owns in the event
that the sale to the Purchaser under the Asset Purchase Agreement
is consummated.  For purposes of the bidding in the Section 363
auction, the Company estimated the value of the waiver of
distribution to be in the range of $6.0 to $7.0 million, subject
to final reconciliation of assumed liabilities, excluded
liabilities, taxes and common stock dilution effects of the
transaction.

Pursuant to the Asset Purchase Agreement, the Company, Siemens and
the Purchaser agreed that, solely for purposes of the comparison
of bids from the Purchaser and William Demant during the Section
363 auction, the offer by the Purchaser would also reflect an
amount equal to $20 million corresponding to the value, agreed for
such purposes, of eliminating the possibility of a rejection
damages claim regarding the supply agreement between the Company
and Siemens as long as the Purchaser was the prevailing bidder.

Consummation of the sale to the Purchaser is subject to a number
of customary conditions, including, among others, conditions
related to compliance with federal antitrust regulations; accuracy
of the representations and warranties of the parties; material
compliance by the parties with their obligations under the Asset
Purchase Agreement; and compliance with certain specified
deadlines for actions in connection with the bankruptcy case.

The Asset Purchase Agreement may be terminated by the Purchaser
under a number of circumstances, including the Company's breach of
certain representations and covenants; and the failure to close
the sale within sixty days after the Sale Order was entered by the
Bankruptcy Court.

The Asset Purchase Agreement, which is attached as Exhibit 2.1 to
this Current Report on Form 8-K filed Aug. 24, 2011, is available
at http://is.gd/QG1iyO

The Company and Siemens are parties to an existing credit
agreement, supply agreement and investor rights agreement.
Borrowings under the credit agreement are secured by substantially
all of the assets of the Company.  The Company currently owes
Siemens approximately $31 million under the credit agreement.
Principal and interest may be paid in large part with rebates
earned by the Company based on purchases of hearing aids from
Siemens pursuant to the long-term supply agreement.

The supply agreement requires that the Company purchase a minimum
of 90% of its hearing aid requirements from Siemens or its
affiliates.

The investor rights agreement was entered into with Siemens in
2008 when Siemens acquired approximately 6.4 million shares of the
Company's common stock in connection with amendments to the credit
agreement and supply agreement and provides for certain
registration rights, pre-emptive rights and rights of first
refusal.

The acquisition by the Purchaser as provided in the Asset Purchase
Agreement will result in the repayment in full of amounts under
the credit agreement and the assumption by Siemens of the supply
agreement.

                        About HearUSA Inc.

HearUSA, Inc., which sells hearing aids in 10 states, filed for
Chapter 11 bankruptcy protection (Bankr. S.D. Fla. Case No.
11-23341) on May 16, 2011, to sell the business for $80 million to
William Demant Holdings A/S.  The Debtor said that assets are
$65.6 million against debt of $64.7 million as of March 31, 2010.
HearUSA owes $31.3 million to Siemens Hearing Instruments Inc.,
the principal supplier and primary secured lender.

Judge Erik P. Kimball presides over the case.  Brian K. Gart,
Esq., Paul Steven Singerman, Esq., and Debi Evans Galler, Esq., at
Berger Singerman, P.A., represent the Debtor.  The Debtor has
tapped Bryan Cave LLP as special counsel; Sonenshine Partners LLC,
investment banker; Development Specialist Inc., restructuring
advisor ans Joseph J. Luzinski as chief restructuring officer; and
AlixPartners LLC, as communications consultant.  Trustee Services,
Inc., serves as claims and notice agent.

The Official Committee of Unsecured Creditors has been appointed
in the case.  Robert Paul Charbonneau, Esq., and Daniel L. Gold,
Esq., at Ehrenstein Charbonneau Calderin, represent the Creditors
Committee.

An Official Committee of Equity Security Holders has also been
appointed.   Mark D. Bloom, Esq., at Greenberg Traurig P.A., in
Miami, Fla., represents the Equity committee as counsel.


HERCULES OFFSHORE: Files Fleet Status Report as of Aug. 25
----------------------------------------------------------
Hercules Offshore, Inc., posted on its Web site at
www.herculesoffshore.com a report entitled "Hercules Offshore
Fleet Status Report".  The Fleet Status Report includes the
Hercules Offshore Rig Fleet Status (as of Aug. 25, 2011), which
contains information for each of the Company's drilling rigs,
including contract dayrate and duration.  The Fleet Status Report
also includes the Hercules Offshore Liftboat Fleet Status Report,
which contains information by liftboat class for July 2011,
including revenue per day and operating days.  The Fleet Status
Report is available for free at http://is.gd/YytGaD

                      About Hercules Offshore

Hercules Offshore Inc. (NASDAQ: HERO) --
http://www.herculesoffshore.com/-- provides shallow-water
drilling and marine services to the oil and natural gas
exploration and production industry in the United States, Gulf of
Mexico and internationally.  The Company provides these services
to integrated energy companies, independent oil and natural gas
operators and national oil companies.  The Company operates in six
business segments: Domestic Offshore, International Offshore,
Inland, Domestic Liftboats, International Liftboats and Delta
Towing.

The Company reported a net loss of $134.59 million on $657.48
million of revenue for the year ended Dec. 31, 2010, compared with
a net loss of $91.73 million on $742.85 million of revenue during
the prior year.

The Company's balance sheet at June 30, 2011, showed $2.09 billion
in total assets, $1.14 billion in total liabilities, and
$944.48 million in stockholders' equity.

The Troubled Company Reporter said on Nov. 17, 2010, Moody's
Investors Service downgraded the Corporate Family Rating of
Hercules Offshore Inc. and the Probability of Default Rating to
Caa1 from B2.  Moody's also downgraded Hercules' 10.5% senior
secured notes due 2017, its senior secured revolving credit
facility due 2012, and its senior secured term loan B due 2013,
all to Caa1 with LGD3, 45%.  The outlook remains negative.

"The inability of Hercules to generate meaningful free cash flow
despite limited reinvestment in its aging fleet of rigs is cause
for concern," commented Stuart Miller, Moody's Senior Analyst.
"Without a significant de-leveraging of its balance sheet,
Hercules is following a path that could lead to financial hardship
at the first sign of a market softening."  Hercules' Caa1 CFR
rating reflects its highly leveraged balance sheet and limited
ability to generate free cash flow.  The Caa1 rating on the senior
secured notes reflects their pari passu secured position in
Hercules' capital structure relative to the senior secured credit
facilities.


HERCULES OFFSHORE: Registers 5-Mil. Shares Under Incentive Plan
---------------------------------------------------------------
Hercules Offshore, Inc., filed with the U.S. Securities and
Exchange Commission a Form S-8 registration statement to register
an additional 5,000,000 shares of common stock issuable pursuant
to the Amended and Restated Hercules Offshore 2004 Long-Term
Incentive Plan.  The Board of Directors of the Company recommended
for approval and, on May 10, 2011, the stockholders approved an
amendment to the Plan that increased the number of shares
available for issuance under the Plan from 10,250,000 to
15,250,000.  A full-text copy of the Form S-8 is available for
free at http://is.gd/JaIRt4

                      About Hercules Offshore

Hercules Offshore Inc. (NASDAQ: HERO) --
http://www.herculesoffshore.com/-- provides shallow-water
drilling and marine services to the oil and natural gas
exploration and production industry in the United States, Gulf of
Mexico and internationally.  The Company provides these services
to integrated energy companies, independent oil and natural gas
operators and national oil companies.  The Company operates in six
business segments: Domestic Offshore, International Offshore,
Inland, Domestic Liftboats, International Liftboats and Delta
Towing.

The Company reported a net loss of $134.59 million on $657.48
million of revenue for the year ended Dec. 31, 2010, compared with
a net loss of $91.73 million on $742.85 million of revenue during
the prior year.

The Company's balance sheet at June 30, 2011, showed $2.09 billion
in total assets, $1.14 billion in total liabilities, and
$944.48 million in stockholders' equity.

The Troubled Company Reporter said on Nov. 17, 2010, Moody's
Investors Service downgraded the Corporate Family Rating of
Hercules Offshore Inc. and the Probability of Default Rating to
Caa1 from B2.  Moody's also downgraded Hercules' 10.5% senior
secured notes due 2017, its senior secured revolving credit
facility due 2012, and its senior secured term loan B due 2013,
all to Caa1 with LGD3, 45%.  The outlook remains negative.

"The inability of Hercules to generate meaningful free cash flow
despite limited reinvestment in its aging fleet of rigs is cause
for concern," commented Stuart Miller, Moody's Senior Analyst.
"Without a significant de-leveraging of its balance sheet,
Hercules is following a path that could lead to financial hardship
at the first sign of a market softening."  Hercules' Caa1 CFR
rating reflects its highly leveraged balance sheet and limited
ability to generate free cash flow.  The Caa1 rating on the senior
secured notes reflects their pari passu secured position in
Hercules' capital structure relative to the senior secured credit
facilities.


HORIZON LINES: To Exchange 4.25% Convertible Senior Notes
---------------------------------------------------------
Horizon Lines, Inc., filed with the U.S. Securities and Exchange
Commission a tender offer statement on Schedule TO relating to its
offer to exchange outstanding 4.25% Convertible Senior Notes due
2012 and a related solicitation of consents for certain proposed
amendments to the indenture governing the convertible old notes.

As of Aug. 23, 2011, the aggregate principal amount of the
convertible old notes outstanding was $330,000,000.

A full-text copy of the Schedule TO is available for free at:

                        http://is.gd/YYrsJF

                        About Horizon Lines

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

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

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

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

                           *    *      *

As reported by the TCR on Aug. 26, 2011, Standard & Poor's Ratings
Services lowered its long-term corporate credit rating on Horizon
Lines Inc. to 'SD' from 'CCC'.

The rating action on Horizon Lines follow the company's decision
to defer the interest payment on its $330 million senior
convertible notes due August 2012, exercising the 30-day grace
period.  "Under our criteria, we view failure to make an interest
payment within five business days after the due date for
payment a default, regardless of the length of the grace period
contained in an indenture," said Standard & Poor's credit analyst
Funmi Afonja.


HOTEL AIRPORT: Taps Francisco Molina as Accountant
--------------------------------------------------
Hotel Airport Inc. asks the U.S. Bankruptcy Court for the District
of Puerto Rico for permission to employ Francisco J. Garrido
Molina CPA to provide accounting services, including, but not
limited to, preparing tax returns, financial projections,
auditing, and other tasks.

Mr. Molina will charge a flat rate of $2,050 ($1,400 + $650) per
month, with a $50 monthly increment for every 5 additional
employees that debtor adds to its payroll.  Mr. Molina will bill
$125 per hour for additional services.

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

                        About Hotel Airport

Hotel Airport Inc., in San Juan, Puerto Rico, filed for Chapter 11
bankruptcy (Bankr. D. P.R. Case No. 11-06620) on Aug. 5, 2011.
Judge Enrique S. Lamoutte Inclan oversees the case.  Edgardo
Munoz, PSC, serves as bankruptcy counsel.  In its petition, the
Debtor estimated $10 million to $50 million in both assets and
debts.  The petition was signed by David Tirri, its president.


HUDSON HEALTHCARE: Creditors Protest Settlement With City
---------------------------------------------------------
Ray Smith at the Hudson Reporter says creditors are crying foul in
court over the city of Hoboken's settlement with the Hudson
Healthcare Inc., the company that operates Hoboken's city-owned
hospital.  The HHI recently filed for Chapter 11 bankruptcy,
leaving local businesses -- as well as two municipal entities --
owed millions of dollars they may never receive, and sources have
raised questions about the cause of the bankruptcy.

According to the report, knowledgeable sources said that
representatives from HHI, the non-profit entity that operates the
hospital, did not wish to declare bankruptcy, but received
pressure from the Hoboken Municipal Hospital Authority, a
municipal board, to do so.  Doing so would smooth the process of
the sale of the hospital from Hoboken to HUMC Holdco, a group
from Bayonne that also operates Bayonne Medical Center.

The report notes the hospital must extinguish its debts before the
sale is complete, essentially wiping the slate clean for the new
owner.  A bankruptcy could achieve that goal quickly.

The report notes the city took ownership of the once-failing
hospital in 2007 by voting to guarantee $52 million in bonds.  The
measure, supported by the administration of Mayor David Roberts,
saved the hospital, but taxpayers were concerned that if the
facility failed financially, they would be left to pay.  After
Mayor Dawn Zimmer took office in 2009, she pledged to sell the
hospital -- which was still on shaky financial ground -- to
private owners who would still run it as a hospital for several
years, so taxpayers will no longer be responsible for it.

After receiving eight bids, the city began the process of selling
the facility to Holdco.  As part of the agreement, Holdco agreed
to keep the facility as a hospital for at least seven years.

According to the report, shortly before HHI declared bankruptcy,
Hoboken University Medical Center Chief Executive Officer Spiros
Hatiras resigned from his position, making state headlines when it
was discovered that he would receive a $600,000 severance payout.
Members of the HHI board also resigned from their positions before
the bankruptcy.

Also, sources say that the Hoboken Municipal Hospital Authority, a
municipal board, withheld some money from HHI, which may have
helped force them into bankruptcy.  The HMHA denied this last
week, the report notes.

                      About Hudson Healthcare

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

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

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


INDIANAPOLIS DOWNS: Exclusivity Period Extended Until Jan. 6
------------------------------------------------------------
BankruptcyData.com reports that the U.S. Bankruptcy Court signed
an order extending the exclusive period during which Indianapolis
Downs can file a Chapter 11 plan and solicit acceptances thereof
by 90 days through and including Nov. 7, 2011, and Jan. 6, 2012,
respectively.

                      About Indianapolis Downs

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

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

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

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


INNER CITY MEDIA: Shareholders Get 2% Stake Under Yucaipa Plan
--------------------------------------------------------------
Yucaipa Corporate Initiatives Fund II, L.P., Yucaipa Corporate
Initiatives (Parallel) Fund II, L.P., CF ICBC LLC, Fortress Credit
Funding I L.P., and Drawbridge Special Opportunities Fund Ltd.
said in court papers that they have presented a restructuring plan
for Inner City Media Corporation before they decided to place the
company and its various affiliates in bankruptcy.  The plan was
negotiated with various parties-in-interest.

The economics of the proposal evolved over the course of the
parties' negotiations.  Throughout negotiations, Inner City
Media's equityholders repeatedly pressed the senior lenders for
greater recoveries.  Ultimately, the Senior Lenders agreed to
certain additional concessions in favor of the Alleged Debtors,
resulting in a fully negotiated, consensual restructuring term
sheet and plan support agreement that, among other things, granted
the Alleged Debtors' equityholders:

     (i) $1,200,000 in cash,
    (ii) 2% of the equity interests in the reorganized ICMC, and
   (iii) 5-year warrants for 6% of the common stock of the
reorganized ICMC on the effective date of a chapter 11 plan, and
provided for the adoption of a new management incentive plan,
pursuant to which the management of the reorganized Alleged
Debtors would be eligible to receive stock options for up to an
additional 6% of the equity interests in reorganized ICMC.

The Restructuring Proposal also incorporated the proposed terms of
a 5-year employment agreement for Pierre Sutton, chief executive
officer and chairman of the board of directors of Holdings, ICMC,
and ICMC parent, Inner City Broadcasting Corporation, pursuant to
which Mr. Sutton would:

     (i) receive base compensation of $600,000 per year,
    (ii) 2% of the common stock of the reorganized ICMC, issued
pursuant to the new management incentive plan,
   (iii) be entitled to participate in all health and dental
insurance plans of the reorganized Alleged Debtors on the same
terms and conditions as other senior executives,
    (iv) be entitled to $20,000 per year as an expense budget for
business related travel expenses, and
     (v) be given the title of Chairman Emeritus.

As reported by the Troubled Company Reporter on Aug. 23, 2011,
affiliates of Yucaipa and CF ICBC LLC, Fortress Credit Funding I
L.P., and Drawbridge Special Opportunities Fund Ltd., signed
involuntary Chapter 11 petitions for Inner City and its affiliates
(Bankr. S.D.N.Y. Case Nos. 11-13967 to 11-13979) to collect on a
$254 million debt.

The Petitioning Creditors are party to the senior secured credit
facility pursuant to which they (or their predecessors in
interest) extended $197 million in loans to the Alleged Debtors to
be used for general corporate purposes.  More than two years ago,
the Alleged Debtors defaulted under the Senior Secured Credit
Facility, and in any event the entire amount of principal and
accrued and unpaid interest and fees became immediately due and
payable on February 13, 2010.  As a result, the Senior Lenders are
owed approximately $250 million in principal and accrued and
unpaid interest and fees as of the Involuntary Chapter 11 Petition
Date.

The Senior Lenders say they will demonstrate in the Chapter 11
cases that the Alleged Debtors have been mismanaged and the value
of the Senior Lenders' collateral has steadily decreased to the
point where they are now substantially undersecured.

According to the Senior Lenders, although they are at this point
undersecured, the restructuring offer made by the Senior Lenders
would have left unsecured creditors unimpaired and provided
equityholders with a cash recovery and a continuing stake in the
reorganized entities.

That proposal was initially accepted by the board of one of the
Alleged Debtors -- ICMC, the main operating company of the Alleged
Debtors.  The Alleged Debtors' professionals at the time, Skadden
Arps and Alvarez & Marsal, recommended to the board of ICMC that
it approve the restructuring proposal embedded in the plan support
agreement.

"However, on the eve of moving forward with this orderly chapter
11 filing, the parent company of the Alleged Debtors, at the
behest of the parent company's chairman, Mr. Pierre Sutton, forced
the Alleged Debtors to back out of this deal, apparently to
seek a greater recovery for himself and other existing
shareholders," according to the Senior Lenders.

Rather than seeking the protections of a voluntary chapter 11
case, the Alleged Debtors have made disturbing written threats --
going so far as threatening to file chapter 7 petitions, with the
consequential devastating affects on the Debtors' employees and
vendors, and seeking to destroy the Alleged Debtors' Federal
Communications Commission licenses, which are the bedrock of the
Alleged Debtors' operations and value.

Faced with these reckless threats, the Senior Lenders say they
reluctantly concluded that they had no choice but to commence the
involuntary chapter 11 cases.

Attorneys for Yucaipa Corporate Initiatives Fund II, L.P. and
Yucaipa Corporate Initiatives (Parallel) Fund II, L.P. are:

        John J. Rapisardi, Esq.
        Scott J. Greenberg, Esq.
        CADWALADER, WICKERSHAM & TAFT LLP
        One World Financial Center
        New York, New York 10281
        Telephone: (212) 504-6000
        Facsimile: (212) 504-6666
        E-mail: john.rapisardi@cwt.com
                scott.greenberg@cwt.com

Attorneys for CF ICBC LLC, Fortress Credit Funding I L.P.,
and Drawbridge Special Opportunities Fund Ltd are:

        Adam C. Harris, Esq.
        Meghan Breen, Esq.
        SCHULTE ROTH & ZABEL LLP
        919 Third Avenue
        New York, New York 10022
        Telephone: (212) 756-2000
        Facsimile: (212) 593-5955
        E-mail: adam.harris@srz.com
                meghan.breen@srz.com

Inner City Media Corporation's affiliates subject to the
involuntary Chapter 11 are ICBC Broadcast Holdings, Inc., Inner-
City Broadcasting Corporation of Berkeley, ICBC Broadcast
Holdings-CA, Inc., ICBC-NY, L.L.C., ICBC Broadcast Holdings-NY,
Inc., Urban Radio, L.L.C., Urban Radio I, L.L.C., Urban Radio II,
L.L.C., Urban Radio III, L.L.C., Urban Radio IV, L.L.C., Urban
Radio of Mississippi, L.L.C., and Urban Radio of South Carolina,
L.L.C.


INNKEEPERS USA: Sue Cerberus, Chatham Over Dead $1-Bil. Deal
------------------------------------------------------------
Innkeepers USA Trust and its affiliates have filed a complaint
with U.S. Bankruptcy Court for the Southern District of New York
against Cerberus Series Four Holdings, LLC, Chatham Lodging Trust
and other related defendants for breach of contract and other
claims for reneging on their commitment to acquire 64 hotels from
Innkeepers.

Cerberus and Chatham entered into a binding commitment letter on
May 16, 2011 to acquire the properties for $1.12 billion as part
of Innkeeper's Chapter 11 plan of reorganization.  However,
Cerberus and Chatham purported to terminate the agreement on
August 19, 2011 without explanation other than to generally
reference the material adverse event language in the binding
commitment letter.

The "defendants purport to terminate their binding and irrevocable
commitment based on an unidentified and unexplained 'material
adverse effect,'" according to Innkeepers' complaint, "but no such
material adverse effect has occurred.  Cerberus' and Chatham's
failure to provide any evidence of a material adverse effect is
not surprising because the Debtors' (Innkeepers') business remains
strong and on course."

Moreover, the binding commitment letter contains no "market"
material adverse event clause, according to the complaint.

The complaint further states: "Cerberus' and Chatham's purported
termination is nothing more than a calculated effort to apply
leverage upon the Debtors and their constituents to renegotiate
the terms of the parties' binding contract.  Regardless of their
motives, one thing is clear: Cerberus and Chatham are not excused
from their obligations under the plain terms of the Binding
Commitment Letter and Term Sheet."

"We remain pleased with the operating performance of our
properties," said Innkeepers' Chief Restructuring Officer, Marc A.
Beilinson.  "That's why we expect to once again see substantial
interest in the 64 hotels that Cerberus and Chatham failed to
purchase, in the event Cerberus and Chatham fail to live up to
their contractual obligations."

Innkeepers is seeking an order requiring Cerberus and Chatham
Lodging Trust to perform their obligations under the binding
commitment letter or pay substantial damages in an amount
determined at trial for the defendants' improper termination of
their binding and irrevocable commitment to purchase 64 of
Innkeepers' hotels.  The damages could exceed their $20 million
deposit, which is being held in escrow.

Copies of Innkeepers' complaint and other court documents are
available at http://www.omnimgt.com/innkeepers/

                  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.


INNKEEPERS USA: Cerberus Suit May Be Capped at $20 Million
----------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Innkeepers USA Trust filed a lawsuit in bankruptcy
court Aug. 29 aimed at compelling Cerberus Capital Management LP
and Chatham Lodging Trust to complete a $1.12 billion acquisition
of 64 hotels.

According to the report, Innkeepers argues in the complaint that
the obligation of Cerberus and Chatham to complete the purchase
was "binding and irrevocable."  The complaint says Cerberus
earlier this month sought to lower the sale price, given
conditions in the equity markets.

Innkeepers points out that the contract does not allow termination
for changes in general market conditions, only for deterioration
in Innkeepers' own business.  Innkeepers says its business hasn't
suffered in the least.  Innkeepers believes that canceling the
purchase was part of a strategy where the buyers sought "leverage"
to lower the price.

According to Mr. Rochelle, in addition to arguing they properly
ended the contract, Cerberus and Chatham may contend they can't be
liable for more than the loss of their $20 million deposit.  They
can point to court-approved sale procedures which prescribe that
loss of the deposit is Innkeepers' "sole remedy at law and in
equity" for the buyers' breach of contract.  It also says that
loss of the deposit is "liquidated damages."

Nonetheless, the complaint seeks to compel Cerberus and Chatham to
complete the purchase.  Alternatively, it seeks damages that could
exceed the $20 million deposit.

The lawsuit is Innkeepers USA Trust v. Cerberus Four
Holdings LLC (In re Innkeepers USA Trust), 11-02557, U.S.
Bankruptcy Court, Southern District New York (Manhattan).

                  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.


INTERNATIONAL RARITIES: Files for Chapter 11 Bankruptcy
-------------------------------------------------------
The Star Tribune reports that International Rarities Corp., 331
2nd Av. S., Minneapolis, filed for Chapter 11 bankruptcy
protection in Minneapolis (Bankr. D. Minn. Case No. 11-45512),
disclosing assets of $1,353,295, and liabilities of $3,025,921.
Stephen Hastings is the president of the Company.


IRVINE SENSORS: Marcus Williams Resigns from Board of Directors
---------------------------------------------------------------
Marcus A. Williams tendered to the Board of Directors of Irvine
Sensors Corporation his resignation as a director and a member of
any committees of the Board, effective Aug. 23, 2011.

                       About Irvine Sensors

Headquartered in Costa Mesa, Calif., Irvine Sensors Corporation
(OTC BB: IRSN) -- http://www.irvine-sensors.com/-- is a vision
systems company engaged in the development and sale of
miniaturized infrared and electro-optical cameras, image
processors and stacked chip assemblies and sale of higher level
systems incorporating said products.  Irvine Sensors also conducts
research and development related to high density electronics,
miniaturized sensors, optical interconnection technology, high
speed network security, image processing and low-power analog and
mixed-signal integrated circuits for diverse systems applications.

The Company's balance sheet at Jan. 2, 2011, showed $15.09 million
in total assets, $30.92 million in total liabilities and
$15.82 million in total stockholders' deficit.

Squar, Milner, Peterson, Miranda & Williamson, LLP, in Irvine,
Calif., expressed substantial doubt about the Company's ability to
continue as a going concern.  The independent auditors noted that
as of Oct. 3, 2010, the Company has negative working capital of
$10.1 million and a stockholders deficit of $10.1 million.

The Company reported a net loss of $11.16 million on
$11.72 million of revenues for the fiscal year ended Oct. 3,
2010, compared with a net loss of $914,700 on $11.54 million of
revenues for the fiscal year ended Sept. 27, 2009.


KEELEY AND GRABANSKI: Taps Kaler Doeling as Bankruptcy Counsel
--------------------------------------------------------------
Keeley and Grabanski Land Partnership asks the U.S. Bankruptcy
Court for the District of North Dakota for permission to employ
Kaler Doeling Law Office as counsel.  The Debtor proposes to pay
the firm $200 per hour plus all out of pocket expenses.

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

The firm can be reached at:

         KALER DOELING LAW OFFICE
         121 Robert Street
         P.O. Box 423
         Fargo, ND 58107

                    About Keeley and Grabanski

Thomas Grabanski, a North Dakota farmer, is mired in three
separate Chapter 11 bankruptcy cases.

Mr. Grabanski and his wife Mari filed a personal Chapter 11
bankruptcy petition (Bankr. D. N.D. Case No. 10-30902) on July 22,
2010.  DeWayne Johnston, Esq., at Johnston Law Office, represents
the Grabanskis in their Chapter 11 case.  The Grabanskis estimated
assets between $1 million and $10 million, and debts between $10
million and $50 million.

On July 23, 2010, Mr. Grabanski signed a Chapter 11 petition for
Grabanski Grain LLC (Bankr. D. N.D. Case No. 10-30924).  DeWayne
Johnston, Esq., also represents Grabanski Grain.  The Debtor is
estimated to have assets and debts of $1,000,001 to $10,000,000.

Former owners in December 2010 forced the partnership Keeley &
Grabanski Land Partnership in Texas into Chapter 11.  John and
Dawn Keely, the former owners, filed an involuntary Chapter 11
bankruptcy petition against the partnership (Bankr. D. N.D. Case
No. 10-31482) on Dec. 6, 2010.  Kenneth Corey-Edstrom, Esq., at
Larkin Hoffman Daly & Lindgren Ltd., represents the petitioner.

Keeley & Grabanski Land Partnership in Texas -- since 2009 doing
business as Grabanski Land Partnership -- was formed in 2007 for
Texas farming operations between farmers Thomas Grabanski and John
Keeley of Grafton, N.D., and their wives.  K&G Land, along with a
separate farming partnership, operated more than 10,000 acres of
corn and sunflowers from 2007 to 2009 in two locations in Texas
near the towns of Blossom and DeKalb.

In separate, related lawsuits, the Grabanskis face several
"adversarial" lawsuits, filed by certain creditors.  The creditors
who filed suits include Crops Production Services Corp., AgCountry
Farm Credit Services, and PHI Financial.


KERZNER INT'L: Faces Sept. 9 Deadline to Pay $2.6-Bil. Debt
-----------------------------------------------------------
The Wall Street Journal's Kris Hudson and Mike Spector report that
people familiar with the matter said Kerzner International
Holdings Ltd., the owner of several luxury getaways, is exploring
selling its 50% stake in the Atlantis resort in Dubai to raise
money to restructure $2.6 billion in mortgage debt coming due next
week.  The sources said the proceeds would go toward paying down a
portion of the mortgage debt on a separate Atlantis resort in the
Bahamas, Kerzner's flagship property and one of the most popular
resorts in North America.  The debt matures Sept. 9.

The sources also told the Journal that Kerzner needs to make a
large payment on the $2.6 billion mortgage on the Bahamian
Atlantis to entice lenders to grant it a two-year extension.

According to the Journal, the sources said Kerzner is in talks to
sell the stake in the Dubai Atlantis to Istithmar World, Dubai's
investment arm.  Istithmar already owns the other half of the
Dubai resort as Kerzner's partner and largest shareholder.  Some
people familiar with the discussions told the Journal the sale, if
consummated, could reap as much as $250 million to $350 million.

The sources told the Journal the sale discussions remain fluid and
might fall apart.  The Journal notes that Istithmar might find it
challenging to raise the capital needed to buy the other 50% stake
in the Dubai Atlantis.  Istithmar just completed a restructuring
of its own debts.  The Dubai Atlantis is saddled with a $1 billion
mortgage of its own, meaning that any buyer of a 50% stake must
assume half of that mortgage.  Any proceeds exceeding the mortgage
amount aren't likely to be enough for Kerzner to make all of the
payments required by its lenders to extend the mortgage on the
Bahamian Atlantis.

Istithmar didn't respond to requests for comment.  The Journal
relates a Kerzner representative would only say: "The company
remains in constructive and active discussions with its lenders."

The sources told the Journal that talks have bogged down because
one creditor, Brookfield Asset Management Inc., is demanding a far
larger principal payment in exchange for the extension than
Kerzner has offered to pay.  The Journal relates the exact amount
of Brookfield's request couldn't be determined. At one point,
Brookfield had been asking for more than $200 million, said a
person familiar with the matter.  Kerzner had offered more than
$100 million.

The sources said if Kerzner doesn't soon sell the Dubai Atlantis
stake and get a wider restructuring deal done, creditors are
likely to grant short grace periods to effectively push back the
impending due date on the company's mortgage by a few weeks.  That
forbearance would come in lieu of creditors foreclosing on Kerzner
properties, and it would allow the two sides to continue
restructuring negotiations.

According to the Journal, the mortgage on the Bahamian Atlantis is
nonrecourse, meaning that Kerzner likely would lose the property
in a foreclosure but wouldn't be on the hook for more.  However,
such a default would cause more damage by triggering cross
defaults of other Kerzner debts, causing more problems for
Kerzner.  Lenders typically agree to extend a securitized mortgage
by two years if the borrower pays 5% to 10% of the loan's balance.

Even if Kerzner sold the Dubai Atlantis, the Journal continues,
not all of the proceeds likely will be available to pay down the
debt on the Bahamian Atlantis because Kerzner has other lenders
that might clamor for some of the proceeds, including holders of
$400 million of operating-company debt coming due in December.


KEVIN WERRY: Court Rejects Bid to Hire Bauer & French
-----------------------------------------------------
Bankruptcy Judge Jim D. Pappas denied, without prejudice, the
application of Kevin and D'Rese Werry to employ Randal J. French,
Esq., at Bauer & French, in Boise, Idaho, as their attorney after
the proposed counsel failed to disclose that a creditor of the
Debtors paid the $8,539 in retainer fees provided to the law firm.
The Office of the United States Trustee had objected to the
Application.  The Court directed the Debtors and Counsel to revise
their Fee Agreement to comply with the Bankruptcy Code and Rules,
after which they may reapply for approval of the Counsel's
employment.  A copy of Judge Pappas' Aug. 26, 2011 Memorandum of
Decision is available at http://is.gd/tCR66zfrom Leagle.com.

Kevin C. Werry and D'Rese G. Werry filed for Chapter 11 bankruptcy
(Bankr. D. Idaho Case No. 11-01710) on June 6, 2011.


LA CORTEZ ENERGY: Reports $982,300 Net Income in 2nd Quarter
------------------------------------------------------------
La Cortez Energy, Inc., filed its quarterly report on Form 10-Q,
reporting net income of $982,347 on $639,441 of oil revenues
for the three months ended June 30, 2011, compared with a net
loss of $2.9 million on $75,891 of oil revenues for the same
period in 2010.

During the three months ended June 30, 2011, the Company
recognized an unrealized gain from the decrease in the fair value
of derivative warrant instruments liability of approximately
$1.9 million compared to an unrealized loss of $657,531 during the
three months ended June 30, 2010.

The Company reported net income of $3.2 million on $1.0 million of
oil revenues for the six months ended June 30, 2011, compared with
a net loss of $3.8 million on $166,274 of oil revenues for the
same period last year.

During the six months ended June 30, 2011, the Company recognized
an unrealized gain from the decrease in the fair value of
derivative warrant instruments liability of roughly $6.4 million
compared to an unrealized loss of $102,023 during the six months
ended June 30, 2010.

The Company's balance sheet as of June 30, 2011, showed
$27.7 million in total assets, $3.3 million in total liabilities,
and shareholders' equity of $24.4 million.

BDO USA, LLP, in Houston, Texas, expressed substantial doubt
about La Cortez Energy's ability to continue as a going concern,
following the Company's 2010 results.  The independent auditors
noted that the Company has limited operating history, no
historical profitability, and has limited available funds.

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

Headquartered in Bogota, Colombia, La Cortez Energy, Inc. (OTC BB:
LCTZ) -- http://www.lacortezenergy.com/-- is an international,
early stage oil and gas exploration and production company
focusing its business in South America.  The Company has entered
into two initial working interest agreements, with Petronorte and
with Emerald, and has acquired a private company, Avante Colombia.

The Company was initially incorporated in the State of Nevada on
June 9, 2006, under the name La Cortez Enterprises, Inc., to
pursue certain business opportunities in Mexico.  During 2008, the
Company's Board of Directors decided to redirect the Company's
efforts towards identifying and pursuing business in the oil and
gas sector in South America.


LA JOLLA: Inks 2nd Amendment Pact with Preferred Shares Holders
---------------------------------------------------------------
La Jolla Pharmaceutical Company, on Aug. 24, 2011, entered into a
Second Amendment Agreement with the holders of a majority of the
Company's outstanding preferred stock in order to provide the
Company with additional working capital to allow the Company to
more fully evaluate certain product acquisition or in-licensing
opportunities that are currently being investigated.

Pursuant to the Amendment Agreement, the Holders agreed to
continue to waive the dividends that would otherwise accrue on the
outstanding Series C-1 1 Convertible Preferred Stock and Series
C-2 1 Convertible Preferred Stock.  Additionally, pursuant to the
Amendment Agreement, the dividends that would otherwise accrue on
the Series C Preferred Stock held by individuals other than the
Holders have also been waived.  The waiver of dividends will take
effect as of Sept. 1, 2011, and continue through Oct. 31, 2011,
after which time dividends will begin to accrue again on the
Series C Preferred Stock.  The Holders have also agreed to provide
the Company with additional working capital, in an amount to be
determined, if the Requisite Holders determine by Sept. 2, 2011,
and then again by Sept. 26, 2011, that, as of those dates, the
Company is continuing to pursue a Strategic Transaction.
Additionally, the Holders have agreed to extend the time period
for which they will purchase up to all of the outstanding Series C
Preferred Stock and certain warrants held by current and former
Company employees, including the Officers.

As a partial inducement to cause the Holders to enter into the
Amendment Agreement, the Company's two executive officers agreed
to extend the temporary reduction of their salaries through
Oct. 31, 2011, as follows: Deirdre Gillespie, M.D., chief
executive officer, by a total of $36,660, and Gail Sloan, chief
financial officer, by a total of $7,178.  In connection with this
reduction in salary, the Officers will have a corresponding
reduction in total work hours during this time, resulting in a 50%
reduction relative to full-time for Dr. Gillespie and a 20%
reduction relative to full-time for Ms. Sloan.

A full-text copy of the Second Amendment Agreement is available
for free at http://is.gd/OynMIs

                   About La Jolla Pharmaceutical

San Diego, Calif.-based La Jolla Pharmaceutical Company (OTC BB:
LJPC) -- http://www.ljpc.com/-- is a biopharmaceutical company
that has historically focused on the development and testing of
Riquent as a treatment for Lupus nephritis.

The Company's balance sheet at June 30, 2011, showed $5.81 million
in total assets, $6.87 million in total liabilities, all current,
$5.32 million in Series C-1 redeemable convertible preferred
stock, and a $6.38 million total stockholders' deficit.

The Company reported a net loss of $3.76 million on $0 of revenue
from collaboration agreement for the year ended Dec. 31, 2010,
compared with a net loss of $8.63 million on $8.12 million of
revenue from collaboration agreement during the prior year.

The Company has a history of recurring losses from operations and,
as of June 30, 2011, the Company had no revenue sources, an
accumulated deficit of $429,876,000 and available cash and cash
equivalents of $5,792,000 of which up to $5,325,000 could be
required to be paid upon the exercise of redemption rights under
the Company's outstanding preferred securities.  Such redemption
was not considered probable as of June 30, 2011.

As reported by the TCR on April 18, 2011, BDO USA, LLP, in San
Diego, Calif., expressed substantial doubt about the Company's
ability to continue as a going concern, following the 2010
financial results.  The independent auditors noted that the
Company has suffered recurring losses from operations, an
accumulated deficit of $428 million as of Dec. 31, 2010 and has no
current source of revenues.


LAMBUTH UNIVERSITY: Univ. of Memphis Leasing Facilities This Year
-----------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Lambuth University will survive as an institution of
higher learning, although not under its own name.  The Tennessee
Board of Regents approved purchasing Lambuth's facilities to be
operated as part of the University of Memphis.

According to the report, so the University of Memphis could begin
using the facilities this academic year, the bankruptcy judge this
month approved a one-year lease for $1.  In response to objection
on behalf of secured bondholders, the Regents were required by the
judge to insure the property.

                     About Lambuth University

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

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


LEHMAN BROTHERS: Court Sends Plan to Creditors for Voting
---------------------------------------------------------
Judge James M. Peck of the U.S. Bankruptcy Court for the Southern
District of New York today approved the Disclosure Statement for
the Revised Second Amended Joint Chapter 11 Plan of Lehman
Brothers Holdings Inc. (LBHI) and its affiliated debtors.

Solicitation packages consisting of, among other things, the
Disclosure Statement and Plan will be distributed to creditors
beginning Sept. 23, 2011.  Creditors entitled to vote on the Plan
will also receive a ballot or ballots as applicable.  The voting
deadline has been set for Nov. 4, 2011.

To date, more than 45 creditor entities asserting claims in excess
of $130 billion have executed Plan Support Agreements. These
include two new agreements announced in court with affiliates in
Singapore and the Netherlands.

A hearing to confirm the Plan is currently scheduled for
Dec. 6, 2011.  The effective date for emergence from Chapter 11
and beginning distributions to creditors will take place following
confirmation of the Plan.

Bryan Marsal, LBHI's Chief Executive Officer, said: "Our goal from
the start of this case has been to move expeditiously toward an
economic compromise that would allow for prompt distributions to
creditors.  The approval of the disclosure statement by Judge Peck
is a major milestone as we move toward that objective.  The
Official Committee of Unsecured Creditors (UCC) and many creditor
representatives from around the world worked diligently with us to
help reach this point.  We look forward to their continued support
for confirmation and emergence."

The Lehman bankruptcy cases are the largest and most complex in
history.  Before the bankruptcy, LBHI had assets of $639 billion
on its consolidated balance sheet and operated as a truly global
firm with over 7,000 legal entities in more than 40 countries.
Lehman's insolvency has resulted in over 75 separate and distinct
bankruptcy proceedings, with the non-United States proceedings
managed by a number of court appointed administrators,
liquidators, trustees, receivers, and like office holders.

LBHI and its affiliated chapter 11 debtors, through its management
team led by Alvarez & Marsal and their attorneys at Weil, Gotshal
& Manges LLP, filed the Revised Second Amended Joint Chapter 11
Plan and Disclosure Statement with the United States Bankruptcy
Court for the Southern District of New York.

                    About Lehman Brothers

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

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

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

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

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

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

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

               International Operations Collapse

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

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

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


LIONS GATE: S&P Affirms B- Corp. Credit Rating; Outlook Positive
----------------------------------------------------------------
Standard & Poor's Ratings Services affirmed the 'B-' corporate
credit rating on British Columbia-domiciled and Santa Monica,
Calif.-headquartered Lions Gate Entertainment Corp. and its
subsidiary, Lions Gate Entertainment Inc. "At the same time, we
revised the rating outlook to positive from stable, reflecting
our view that the company could maintain positive EBITDA and
discretionary cash flow, even with higher film costs over the next
several quarters," S&P related.

"Our rating on Lions Gate reflects our assessment that the company
has a vulnerable business risk profile and a highly leveraged
financial risk profile," S&P related.

Lions Gate ranks eighth among U.S. motion picture producers and
distributors year-to-date 2011, with a 1.8% box office market
share, and it is a small producer of cable network programming.
The company releases 12 to 16 widely distributed theatrical films
each year, focusing its relatively low-budget films on niche
categories, such as horror, urban, comedy, and prestige films.
These genres cater to specific audiences instead of the mass
market and do not require the high marketing expenses that
action/adventure event films do.

This strategy has not assured consistently satisfactory
profitability, as the EBITDA margin of the company's motion
picture segment is typically significantly below peers' because of
mediocre box office performance, high print and advertising
expenses, and film write-downs. Separate from its production
activities, Lions Gate distributes an extensive film library of
about 12,000 feature film and TV titles, accumulated through a
series of acquisitions. Library cash flow offers an element of
stability to revenue and cash flow, but has not ensured continuous
profitability.

"We expect Lions Gate's EBITDA to rise about 30% in the fiscal
year ending March 31, 2012, but to end the year below its current
trailing-12-month level because of increased film production and
marketing costs in the second half as the company releases more
new films than in the first half of the year," said Standard &
Poor's credit analyst Deborah Kinzer. "Lower home entertainment
revenue because of secular trends and fewer new DVD releases will
be a major factor in our expected 5% revenue decline for the
year."

The positive rating outlook reflects Standard & Poor's view that
Lions Gate could maintain positive EBITDA and discretionary cash
flow, even with higher film costs over the next several quarters.
"We could raise the rating if the company's EBITDA and
discretionary cash flow remain at or near their current levels
over the next several quarters, even as the company increases its
film costs in connection with upcoming new releases, including the
first installment of the "Hunger Games" film series in early
calendar 2012. At the same time, we would expect the company to
keep its debt to EBITDA ratio at less than 6.5x on an ongoing
basis. Conversely, we could change the outlook back to stable if
the company starts to report negative EBITDA quarters as a result
of large film write-downs, if the company makes large debt-
financed acquisitions that do not contribute EBITDA, or if
liquidity becomes strained in the face of increasing debt levels,"
S&P added.


LOUISVILLE ORCHESTRA: Judge Stosberg Approves Chapter 11 Plan
-------------------------------------------------------------
Stephanie Clouser at Business First of Louisville reports that
U.S. Bankruptcy Court Judge David T. Stosberg has approved the
Louisville Orchestra's plan to emerge from bankruptcy, despite
objections from one of the organization's largest creditors.

According to the report, Judge Stosberg approved the orchestra's
reorganization plan.  Under the plan, the organization now will
make payments to honor the majority of its commitments to exit
bankruptcy.

Business First says the plan includes paying 50 percent of debts
during the next three years to secured creditors that had agreed
to the reduced payment, according to Louisville Orchestra CEO Rob
Birman.  These creditors include Chase bank, which is owed
$350,000.

The orchestra, according to Business First, owes the American
Federation of Musicians & Employers' Pension Fund, based in New
York City, $43,486.  Under the reorganization plan, the pension
fund will be paid the full amount of that claim over the next
three years.  The pension fund objected to the orchestra's plan
for reorganization in an Aug. 9, 2011 filing, claiming that the
organization's plan was not feasible, was not filed in good faith
and was not in the best interest of the fund.

The report relates that the fund also claimed that the orchestra
owed an additional $3.2 million as a penalty for failing to make
payments to the pension fund.  The pension fund claimed the
orchestra incurred the penalty fee because it had withdrawn from
the fund.

Judge Stosberg allowed the pension fund's claim of $3.2 million,
but he included it with the unsecured creditors.  Mr. Birman said
all unsecured creditors will share a total of $90,000. Before the
addition of the pension fund's claim, he said, that would have
covered about 50 percent of the unsecured debts.  But with the
additional $3.2 million claim included, unsecured creditors will
receive approximately 3 cents on the dollar, Mr. Birman said.

                    About Louisville Orchestra

Based in Louisville, Kentucky, Louisville Orchestra, Inc. filed
for Chapter 11 bankruptcy protection (Bankr. W.D. Ky. Case No. 10-
36321) on Dec. 3, 2010.  Judge David T. Stosberg presides over the
case.  Daniel T. Albers, Jr., Esq., Mark A. Robinson, Esq., and
Robert Wagner, Esq., at Valenti Hanley & Robinson PLLC, represent
the Debtor.  In its schedules, Louisville Orchestra disclosed it
had $412,000 in assets and $1.4 million in liabilities.


LOUISVILLE ORCHESTRA: Cancels Concerts in Next 2 Months
-------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that although the Louisville Symphony Orchestra confirmed
its Chapter 11 plan on Aug. 17, last week the ensemble announced
the cancellation of concerts scheduled for September and October.
The symphony said that the musicians' union threatened to fine
members who worked so long as there is no new contract.

According to the report, the symphony said it was offering
musicians $925 a week plus benefits, the same as last season's
wages.  The reorganization plan resulted from negotiations with
JPMorgan Chase Bank NA and Fifth Third Bank, the two principal
secured lenders.  The non-profit symphony was founded in 1937 and
filed for Chapter 11 relief last December in its hometown.

                    About Louisville Orchestra

Based in Louisville, Kentucky, Louisville Symphony Orchestra,
Inc., doing business as Louisville Orchestra, filed for Chapter 11
bankruptcy protection (Bankr. W.D. Ky. Case No. 10-36321) on
Dec. 3, 2010.  Judge David T. Stosberg presides over the case.
Daniel T. Albers, Jr., Esq., Mark A. Robinson, Esq., and Robert
Wagner, Esq., at Valenti Hanley & Robinson PLLC, represent the
Debtor.  In its schedules, Louisville Orchestra disclosed it had
$412,000 in assets and $1.4 million in liabilities.


LTS NUTRACEUTICALS: Posts $1.2-Mil. Net Loss in 2nd Quarter
-----------------------------------------------------------
LTS Nutraceuticals, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $1.2 million on $378,505 of sales for the
three months ended June 30, 2011, compared with a net loss of
$83,132 on $486,538 of sales for the same period last year.

The Company reported a net loss of $1.8 million on $561,790 of
sales for the six months ended June 30, 2011, compared with a net
loss of $344,903 on $747,896 of sales for the corresponding period
of 2010.

The Company's balance sheet at June 30, 2011, showed $3.4 million
in total asset, $6.8 million in total liabilities, and a
stockholders' deficit of $3.4 million.

As of Aug. 10, 2011, the Company had $139,626 in cash.  "The
current operating plan indicates that losses from operations may
be incurred for all of fiscal 2011, the Company said in the
filing.  Consequently the Company may not have sufficient
liquidity necessary to sustain operations for the next twelve
months and this raises substantial doubt that the Company will be
able to continue as a going concern."

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

Ft. Lauderdale, Fla.-based LTS Nutraceuticals, Inc., develops and
sells high-quality nutritional products that are distributed
throughout North America through a network marketing system, which
is a form of direct selling.


LYMAN LUMBER: ABC Inc., Chetek Employer, Also in Chapter 11
-----------------------------------------------------------
Anita Zimmerman at Barron News-Shield reports that Automated
Building Components Inc., a major supplier of jobs in the Chetek
community, has filed for Chapter 11 protection, estimating assets
between $1 million and 10 million, and liabilities between $100
million and 500 million.

According to the report, the petition indicates the creditor
holding the largest unsecured claim is Central States Pension Fund
of Des Plaines, Ill., which is owed more than $7 million.

The report says ABC Inc., based out of Excelsior, Minn., is a
privately held corporation.  Jim Hurd is the president and chief
executive officer.  The Chetek plant, which employs 106 workers,
is one of ABC's two manufacturing facilities.  They supply roof
and floor trusses to lumber companies in Wisconsin and Minnesota.

The report adds Lyman Lumber, the parent company, which has a
retail showroom in Eau Claire and a development arm, Lyman
Development Co., has several other interests: Woodinville Lumber,
Carpentry Contractors, Mid America Cedar and Tri County Truss.

Lyman Lumber had entered into a letter of intent to sell its
Midwest Operations to SP Asset Management LLC (Steel Partners).
Steel Partners is an affiliate of Steel Partners Holdings L.P.,
a global diversified holding company that owns and operates
businesses in a variety of industries and is headquartered in New
York, N.Y.

The report says the sale was subject to definitive agreements
between the parties and bankruptcy court approval.

Lyman is seeking to use the Chapter 11 bankruptcy process to
restructure certain of its debt obligations and to allow it to
shed nonperforming assets such as its land position and
construction lending portfolio, the release indicated. Lyman
operates six divisions in the Midwest, servicing professional
contractors and lumber dealers with building materials and job-
site labor.

Barron News says Terry Elwood, manager of the Chetek plant, said
Chetek workers would not be affected, and no jobs would be lost
beyond the usual seasonal adjustments.

Earlier last week, as reported in Eau Claire media outlets, the
Department of Workforce Development issued a press release
indicating the Chetek facility would be sold to Steel Partners and
workers would be laid off for one day between Oct. 1 and Oct. 14,
the closing dates.

The DWD issued a second release Tuesday indicating that layoff
notices had been sent to employees.  Re-hiring is expected after
the deal is finalized.

                        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.
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.

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.  BGA Management, LLC
d/b/a Alliance Management, developed and executed a sale process
and marketing strategy for the Debtors' assets.

The Official Committee of Unsecured Creditors of Lyman Lumber
Company tapped Fafinsky, Mark & Johnson, P.A., as its bankruptcy
counsel.  Alliance Management is the financial and turnaround
consultant.

When they filed for bankruptcy, the Debtors had in hand a term
sheet with SP Asset Management, LLC, a unit of Steel Partners
Holdings L.P., to serve as stalking horse bidder for the assets of
the Debtors.  New York City-based Steel Partners is a diversified
holding company that owns and operates businesses in a variety of
industries.


MACCO PROPERTIES: Files List of 21 Largest Unsecured Creditors
--------------------------------------------------------------
Macco Properties, Inc., has filed with the U.S. Bankruptcy Court
for the Western District of Oklahoma a list of its 21 largest
unsecured creditors.

Debtor's List of 21 Largest Unsecured Creditors:

  Entity                          Nature of Claim     Claim Amount
  ------                          ---------------     ------------
First Enterprise Bank             Unsecured
1000 W Britton Road               Bank Loan
OKC, OK 73113                     Guarantees         $1,100,300.00

FAA Credit Union
P.O. Box 26406
Oklahoma City, OK 73126           Guarantees        $17,466,682.00

Quail Creek Bank
P.O. Box 20160
OKC, OK 73156                     Guarantees        $10,896,618.00

Frontier Bank                     Guarantees         $6,108,651.00

All America Bank                  Guarantees         $7,900,017.00

Approximated $932,000 of This Claim Has Been Paid Off Since Filing
by the LLC That Owns The Security

Coastal Federal Credit Union      Guarantees         $6,925,000.00

This Claim Has Been Paid I Full Since Filing by LLC That Owned
Security for the Debt

Kirkpatrick Bank                  Guarantees         $1,963,991.00

Sooner State Bank                 Guarantees         $1,949,093.00

Approximately $400,000 of This Claim Has Been Paid Off by the LLC
That Owns the Security for This Guarantee

NBC Bank                          Guarantees         $1,520,777.00

V&S Enterprises                   Guarantees           $325,000.00

Oklahoma Fidelity Bank            Guarantees           $216,667.00

Geneva Price                      Unsecured Loan      Approx.
                                                        $55,000.00

Conner And Winters                Legal Fees          Approx.
                                                        $50,000.00

Jackie Hill                                           Approx.
Dunn, Swan, Cunningham            Legal Fees            $44,000.00

This Claim Was Paid in Full by Co-Debtors in 4/11

Woodward, Hernandez,
Roth And Day                      Legal Fees            $24,552.00

This Claim Was Purchased and Assigned to Richard Ledbetter Since
the Filing

Ed Tennison                       Unsecured Loan        $11,000.00

OGE                               Utilities             $10,440.77

Daily Oklahoman                   Advertising            $7,500.00

Wichita Eagle                     Advertising            $7,500.00

Property Tax Network              Property
Of Texas                          Tax Adjustment         $4,800.00

                      About Macco Properties

Oklahoma City, Oklahoma-based Macco Properties, Inc., is a real
estate holding and management company which is the sole member of
numerous limited liability companies.  The limited liability
companies own 27 real estate properties, consisting primarily of
apartment complexes, and commercial office space situated in
Oklahoma and Kansas.

The Company filed for Chapter 11 bankruptcy protection (Bankr.
W.D. Okla. Case No. 10-16682) on Nov. 2, 2010.  Bobbie G. Bayless,
Esq., at Bayless & Stokes, in Houston, and Michael Paul Kirschner,
Esq., at Robertson & Williams, in Oklahoma City, Okla., serve as
the counsel to the Debtors.  The Debtor disclosed $50,823,581 in
total assets, and $4,323,034 in total liabilities.

The Official Unsecured Creditors' Committee is represented by
Ruston C. Welch, at Welch Law Firm, P.C., in Oklahoma City,
Oklahoma.

As reported in the TCR on June 17, 2011, the Bankruptcy Court
approved the appointment of Michael E. Deeba as the Chapter 11
trustee in the case of Macco Properties, Inc.  Richard A. Weiland,
the U.S. Trustee for Region 20, selected Mr. Deeba pursuant to the
order directing the appointment of a Chapter 11 trustee dated
May 31, 2011.  Janice Loyd, Esq., represents the Chapter 11
Trustee.


MACCO PROPERTIES: Trustee Wants to Sell Real Property
-----------------------------------------------------
The Journal Record says a bankruptcy trustee for Macco Properties
Inc.'s vast real estate holdings wants to sell some of the
property off, including a luxury high-rise condominium in Dallas
valued at more than $2.5 million and several run-down apartment
complexes in the metro area.

                      About Macco Properties

Oklahoma City, Oklahoma-based Macco Properties, Inc., is a real
estate holding and management company which is the sole member of
numerous limited liability companies.  The limited liability
companies own 27 real estate properties, consisting primarily of
apartment complexes, and commercial office space situated in
Oklahoma and Kansas.

The Company filed for Chapter 11 bankruptcy protection (Bankr.
W.D. Okla. Case No. 10-16682) on Nov. 2, 2010.  Bobbie G. Bayless,
Esq., at Bayless & Stokes, in Houston, and Michael Paul Kirschner,
Esq., at Robertson & Williams, in Oklahoma City, Okla., serve as
the counsel to the Debtors.  The Debtor disclosed $50,823,581 in
total assets, and $4,323,034 in total liabilities.

The Official Unsecured Creditors' Committee is represented by
Ruston C. Welch, at Welch Law Firm, P.C., in Oklahoma City,
Oklahoma.

As reported in the TCR on June 17, 2011, the Bankruptcy Court
approved the appointment of Michael E. Deeba as the Chapter 11
trustee in the case of Macco Properties, Inc.  Richard A. Weiland,
the U.S. Trustee for Region 20, selected Mr. Deeba pursuant to the
order directing the appointment of a Chapter 11 trustee dated
May 31, 2011.  Janice Loyd, Esq., represents the Chapter 11
Trustee.


MANISTIQUE PAPERS: 341(a) Creditors' Meeting Set on Sept. 15
------------------------------------------------------------
Manistique Papers Inc. will hold an 11 U.S.C. Sec. 341(a) meeting
of creditors on Sep. 15, 2011 at 1:00 p.m.  The meeting will be
held at:

     U.S. District Court
     844 King St.
     Room 5209
     Wilmington, DE.

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

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

                     About Manistique Papers

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


MANISTIQUE PAPERS: Court OKs Garden City as Claims Agent
--------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware has
approved Manistique Papers Inc.'s application to retain The Garden
City Group, Inc. as claims, noticing, and balloting agent to the
Debtor and Debtor in possession nunc pro tunc to the Petition
Date.

Upon retention, the firm, will among other things:

   a) prepare and serve required notices in the chapter 11  cases

   b) revise the creditor matrix after the objection period
      expires;

   c) record any order entered by the Court which may affect a
      claim by making a notation on the claims register;

The Debtor proposes that the cost of GCG's services be paid from
the Debtor's estate as provided by 28 U.S.C. Sec. 156(c) and 11
U.S.C. Sec. 503(b)(1)(A).  The Debtor respectfully submits that
GCG's rates for its services in connection with the notice, claims
processing and solicitation services are competitive and
comparable to the rates charged by their competitors for similar
services.

GCG is not connected with the Debtor, its creditors, the Office of
the United States Trustee for the District of Delaware or any
person employed by the Office of the United States Trustee for the
District of Delaware.

GCG may have relationships with certain of the Debtor's creditors
as vendors or in connection with cases in which GCG serves or has
served in a neutral capacity as claims and noticing agent for
another chapter 11 debtor.

                      About Manistique Papers

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


MARCO POLO: Taps Bracewell & Giulliani as Attorney
--------------------------------------------------
Marco Polo Seatrade B.V. and its debtor-affiliates ask the U.S.
Bankruptcy Court for the Southern District of New York for
permission to employ Bracewell & Giuliani LLP as their attorney to
perform the legal services that will be necessary during these
Chapter 11 cases.

A hearing is set on Sept. 15, 2011, at 10:00 a.m., to consider the
Debtors' request.  Objections, if any, are due Sept. 8, 2011 at
4:00 p.m.

The fee ranges for the firm's attorneys and paralegals that may be
designated to represent the Debtors and their current, standard
hourly rates are:

          Evan D. Flaschen, Esq.,     $1,050
          Robert G. Burns, Esq.         $800
          Andrew J. Schoulder, Esq.     $685

          Partners                    $685-$1,050
          Associates                  $315-$600
          Paralegal                   $215-$255

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

                        About Marco Polo

Marco Polo Seatrade B.V. operates an international commercial
vessel management company that specializes in providing
commercial and technical vessel management services to third
parties.  Founded in 2005, the Company mainly operates under the
name of Seaarland Shipping Management and maintains corporate
headquarters in Amsterdam, the Netherlands.  The primary assets
consist of six tankers that are regularly employed in
international trade, and call upon ports worldwide.

Marco Polo and three affiliated entities filed for Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 11-13634) on July 29,
2011.  The other affiliates are Seaarland Shipping Management
B.V.; Magellano Marine C.V.; and Cargoship Maritime B.V.

Marco Polo is the sole owner of Seaarland, which in turn is the
sole owner of Cargoship, and also holds a 5% stake in Magellano.
The remaining 95% stake in Magellano is owned by Amsterdam-based
Poule B.V., while another Amsterdam company, Falm International
Holding B.V. is the sole owner of Marco Polo.  Falm and Poule
didn't file bankruptcy petitions.

The filings were prompted after lender Credit Agricole Corporate
& Investment Bank seized one ship on July 21, 2011, and was on
the cusp of seizing two more on July 29.  The arrest of the
vessel was authorized by the U.K. Admiralty Court.  Credit
Agricole also attached a bank account with almost US$1.8 million
on July 29.  The Chapter 11 filing precluded the seizure of the
two other vessels.

Evan D. Flaschen, Esq., Robert G. Burns, Esq., and Andrew J.
Schoulder, Esq., at Bracewell & Giuliani LLP, serve as bankruptcy
counsel.  The cases are before Judge James M. Peck.

The petition said assets and debt are both more than
US$100 million and less than US$500 million.


MARCO POLO: Taps Kurtzman Carson as Notice & Claims Agent
---------------------------------------------------------
Marco Polo Seatrade B.V. and its debtor-affiliates ask the U.S.
Bankruptcy Court for the Southern District of New York for
permission to employ Kurtzman Carson Consultants LLC as notice and
claims agent.

The Debtors also ask the Court for authority to employ the firm as
their administrative agent.

A hearing is set on Sept. 15, 2011, at 10:00 a.m., to consider the
Debtors' request.  Objections, if any, are due Sept. 8, 2011 at
4:00 p.m.

According to the Debtors, the firm is fully equipped to handle the
volume of mailing involved in properly sending required notices to
and processing the claims of creditors and other interested
parties in the Chapter 11 Cases.

The firm's consulting services and their corresponding rates:

     Clerical                             $40- $60
     Project Specialist                   $80-$140
     Technology/Programming Consultant   $100-$200
     Consultant                          $125-$200
     Senior Consultant                   $225-$275
     Senior Managing Consultant          $295-$295

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

                        About Marco Polo

Marco Polo Seatrade B.V. operates an international commercial
vessel management company that specializes in providing commercial
and technical vessel management services to third parties.
Founded in 2005, the Company mainly operates under the name of
Seaarland Shipping Management and maintains corporate headquarters
in Amsterdam, the Netherlands.  The primary assets consist of six
tankers that are regularly employed in international trade, and
call upon ports worldwide.

Marco Polo and three affiliated entities filed for Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 11-13634) on July 29,
2011.  The other affiliates are Seaarland Shipping Management
B.V.; Magellano Marine C.V.; and Cargoship Maritime B.V.

Marco Polo is the sole owner of Seaarland, which in turn is the
sole owner of Cargoship, and also holds a 5% stake in Magellano.
The remaining 95% stake in Magellano is owned by Amsterdam-based
Poule B.V., while another Amsterdam company, Falm International
Holding B.V. is the sole owner of Marco Polo.  Falm and Poule
didn't file bankruptcy petitions.

The filings were prompted after lender Credit Agricole Corporate
& Investment Bank seized one ship on July 21, 2011, and was on
the cusp of seizing two more on July 29.  The arrest of the
vessel was authorized by the U.K. Admiralty Court.  Credit
Agricole also attached a bank account with almost US$1.8 million
on July 29.  The Chapter 11 filing precluded the seizure of the
two other vessels.

Evan D. Flaschen, Esq., Robert G. Burns, Esq., and Andrew J.
Schoulder, Esq., at Bracewell & Giuliani LLP, serve as bankruptcy
counsel.  The cases are before Judge James M. Peck.

The petition said assets and debt are both more than
US$100 million and less than US$500 million.


MARCO POLO: Committee Taps Blank Rome as Attorney
-------------------------------------------------
The Official Committee of Unsecured Ceditors of Marco Polo
Seatrade B.V. and its debtor-affiliates ask the U.S. Bankruptcy
Court for the Southern District of New York for permission to
retain Blank Rome LLP as its attorney to provide legal services
and advice as may be necessary for the orderly conduct of the
Chapter 11 case.

A hearing is set on Aug. 31, 2011, at 4:00 p.m., to consider the
Committee's request.  Objections, if any, are due Aug. 24, 2011,
at 4:00 p.m.

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

   Partners and Counsel            $400-$815
   Associates                      $225-$500
   Legal Assistants                $105-$290

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

                        About Marco Polo

Marco Polo Seatrade B.V. operates an international commercial
vessel management company that specializes in providing
commercial and technical vessel management services to third
parties.  Founded in 2005, the Company mainly operates under the
name of Seaarland Shipping Management and maintains corporate
headquarters in Amsterdam, the Netherlands.  The primary assets
consist of six tankers that are regularly employed in
international trade, and call upon ports worldwide.

Marco Polo and three affiliated entities filed for Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 11-13634) on July 29,
2011.  The other affiliates are Seaarland Shipping Management
B.V.; Magellano Marine C.V.; and Cargoship Maritime B.V.

Marco Polo is the sole owner of Seaarland, which in turn is the
sole owner of Cargoship, and also holds a 5% stake in Magellano.
The remaining 95% stake in Magellano is owned by Amsterdam-based
Poule B.V., while another Amsterdam company, Falm International
Holding B.V. is the sole owner of Marco Polo.  Falm and Poule
didn't file bankruptcy petitions.

The filings were prompted after lender Credit Agricole Corporate
& Investment Bank seized one ship on July 21, 2011, and was on
the cusp of seizing two more on July 29.  The arrest of the
vessel was authorized by the U.K. Admiralty Court.  Credit
Agricole also attached a bank account with almost US$1.8 million
on July 29.  The Chapter 11 filing precluded the seizure of the
two other vessels.

Evan D. Flaschen, Esq., Robert G. Burns, Esq., and Andrew J.
Schoulder, Esq., at Bracewell & Giuliani LLP, serve as bankruptcy
counsel.  The cases are before Judge James M. Peck.

The petition said assets and debt are both more than
US$100 million and less than US$500 million.


MARCO POLO: Can Pay $1.2 Mil. to Critical Vendors on Interim Basis
------------------------------------------------------------------
The Hon. James M. Peck of the U.S. Bankruptcy Court for the
Southern District of New York authorized, on an interim basis,
Marco Polo Seatrade B.V. and its debtor-affiliates to pay or honor
prepetition obligations to foreign vendors, service providers and
governments and certain critical vendors for $1.2 million.

A final hearing is set for Aug. 31, 2011, at 4:00 p.m., to
consider approval of the Debtors' request.

The Debtors are allowed, but not required, to pay or honor
prepetition obligations to certain essential vendors that provide
(a) essential goods to the Debtors that were received by the
Debtors before the petition date; and (b) essential services that
were rendered to the Debtors before the petition date.

                        About Marco Polo

Marco Polo Seatrade B.V. operates an international commercial
vessel management company that specializes in providing commercial
and technical vessel management services to third parties.
Founded in 2005, the Company mainly operates under the name of
Seaarland Shipping Management and maintains corporate Headquarters
in Amsterdam, the Netherlands.  The primary assets consist of six
tankers that are regularly employed in international trade, and
call upon ports worldwide.

Marco Polo and three affiliated entities filed for Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 11-13634) on July 29,
2011.  The other affiliates are Seaarland Shipping Management
B.V.; Magellano Marine C.V.; and Cargoship Maritime B.V.

Marco Polo is the sole owner of Seaarland, which in turn is the
sole owner of Cargoship, and also holds a 5% stake in Magellano.
The remaining 95% stake in Magellano is owned by Amsterdam-based
Poule B.V., while another Amsterdam company, Falm International
Holding B.V. is the sole owner of Marco Polo.  Falm and Poule
didn't file bankruptcy petitions.

The filings were prompted after lender Credit Agricole Corporate
& Investment Bank seized one ship on July 21, 2011, and was on
the cusp of seizing two more on July 29.  The arrest of the
vessel was authorized by the U.K. Admiralty Court.  Credit
Agricole also attached a bank account with almost US$1.8 million
on July 29.  The Chapter 11 filing precluded the seizure of the
two other vessels.

Evan D. Flaschen, Esq., Robert G. Burns, Esq., and Andrew J.
Schoulder, Esq., at Bracewell & Giuliani LLP, serve as bankruptcy
counsel.  The cases are before Judge James M. Peck.

The petition said assets and debt are both more than
US$100 million and less than US$500 million.


MARKET STREET: Wants Boxer Out of Escrow Account Distribution
-------------------------------------------------------------
Market Street Properties, LLC, asks the U.S.  Bankruptcy Court for
the Eastern District of Louisiana to:

   i) determine that Boxer RE, L.P. has and continues to violate
      the automatic stay and has no authority or right to obstruct
      the release of the fund;

  ii) award sanctions, including attorney's fee against Boxer;

iii) set an emergency interim hearing authorizing the release
      of $300,000 from the Environmental Escrow Account for use in
      payment of critical remediation of the property of the
      Debtor; and

  iv) grant final authority to use funds from the Environmental
      Escrow Account, and instructing the escrow agent to
      disregard any contrary comments or instructions by Boxer.

The Debtor relates that contemporaneous with the execution of the
escrow agreement, the Debtor executed a promissory note in favor
of Boxer in the principal sum of $4,000,000 well as accompanying
mortgage and security instruments which granted Boxer a second
lien on the Market Street property.

Prior to the Petition Date, Boxer issued correspondence dated
Oct. 30, 2008, and Jan. 9, 2009, to the escrow agent asserting
certain rights pursuant to the assignment and further asserting a
blanket objection to distribution of funds from the escrow
account.

In an abundance of caution, the escrow agent has refused to make
any distribution from the escrow account based in substantial part
upon the Boxer letters.

           Remediation and $300,000 Release from Escrow

The Debtor has engaged DEMCO, Inc., RiskNomics, and others as
contractors to perform remediation of the Market Street Property.
The Debtor relates that it does not have sufficient funds set
aside in the DIP budget to pay outstanding invoices to DEMCO and
RiskNomics for those asbestos remediation services amounting to
$97,000, well as payment of a required deposit of $150,000 to
DEMCO.

The Debtor also asks the Court to authorize the release of
$300,000 in proceeds from the escrow account to pay certain
amounts related to remediation of the Market Street Property and
to keep DEMCO and other contractors on site.

The Debtor explains that the remediation of the Market Street
Property will benefit Boxer as a creditor with an asserted
security interest in the property.

                 About Market Street Properties

Oceanside, New York-based Market Street Properties, L.L.C., owns
an approximately 500,000 square-foot power plant, two substations,
and three parcels of vacant land.  It filed for Chapter 11
bankruptcy (Bankr. E.D. La. Case No. 09-14172) on Dec. 23, 2009,
represented by Christopher T. Caplinger, Esq., Joseph Patrick
Briggett, Esq., and Stewart F. Peck, Esq., at LUGENBUHL WHEATON
PECK RANKIN & HUBBARD, in New Orleans.  The Company disclosed
$52,404,026 in assets and $26,848,596 in liabilities as of the
Chapter 11 filing.

Cupkovic Architecture LLC serves as the Debtor's architect; and
Patrick J. Gros, CPA, as accountant.  James E. Fitzmorris, Jr.
serves as political consultant and advisor.  No trustee or
examiner has been appointed in the case.


MARKET STREET: Capital One Wants on Escrow Funds Release Method
---------------------------------------------------------------
Capital One, N.A., creditor and party-in-interest in the Chapter
11 case of Market Street Properties, LLC, asks the U.S.
Bankruptcy Court for the Eastern District of Louisiana to provide
instructions as to how to disburse funds.

Capital One is the escrow agent pursuant to the Environmental
Escrow Agreement, dated January 2007, which was entered into among
Capital One, the Debtor, and Entergy New Orleans, Inc.

Capital One relates that on Dec. 26, 2006, the Debtor contracted
to purchase from ENO certain real property located in New Orleans,
Louisiana.  In connection with the purchase, ENO and the Debtor
agreed to set aside funds in escrow to be used to fund potential
environmental remediation costs that could arise from the
property, or to fund indemnification obligations arising from
potential remediation efforts or assessments.

Under the escrow agreement, Capital One is escrow agent and holds
funds for disbursement to the Debtor, ENO, or third-parties,
pursuant to various notices or instructions that are to be
delivered to Capital One regarding the disbursements.

Capital One notes that it has received various conflicting
instructions regarding the escrowed funds.

In light of the asserted claims and interests made by Boxer
Finance, LLC, Capital One requests that the Court determine the
proper recipient of disbursements as among the Debtor, ENO, or
Boxer under the Escrow Agreement.

Capital One says that it wants to assure performance of the escrow
agreement according to its terms and protect Capital One from
being exposed to claims for double payments on a single
disbursement request.

Capital One is represented by:

         Victoria White Baudier, Esq.
         701 Poydras Street, Suite 4500
         New Orleans, LA 70139
         Tel: (504) 585-0283
         Fax: (504) 566-0210
         E-mail: Victoria.Baudier@arlaw.com

                 - and -

         Jarrett L. Hale, Esq.
         Andrew E. Jillson, Esq.
         HUNTON & WILLIAMS LLP
         1445 Ross Avenue, Suite 3700
         Dallas, TX 75202
         Tel: (214) 979-3000
         Fax: (214) 880-0011
         E-mail: jhale@hunton.com
                  ajillson@hunton.com

                 About Market Street Properties

Oceanside, New York-based Market Street Properties, L.L.C., owns
an approximately 500,000 square-foot power plant, two substations,
and three parcels of vacant land.  It filed for Chapter 11
bankruptcy (Bankr. E.D. La. Case No. 09-14172) on Dec. 23, 2009,
represented by Christopher T. Caplinger, Esq., Joseph Patrick
Briggett, Esq., and Stewart F. Peck, Esq., at LUGENBUHL WHEATON
PECK RANKIN & HUBBARD, in New Orleans.  The Company disclosed
$52,404,026 in assets and $26,848,596 in liabilities as of the
Chapter 11 filing.

Cupkovic Architecture LLC serves as the Debtor's architect; and
Patrick J. Gros, CPA, as accountant.  James E. Fitzmorris, Jr.
serves as political consultant and advisor.  No trustee or
examiner has been appointed in the case.


MARKWEST ENERGY: Moody's Upgrades Corp. Family Rating to 'Ba2'
--------------------------------------------------------------
Moody's Investors Service upgraded the Corporate Family Rating for
MarkWest Energy Partners, L.P. to Ba2 from Ba3. In addition,
Moody's upgraded the senior unsecured note rating to Ba3 from B1.
The outlook is stable.

RATINGS RATIONALE

"The upgrade in the CFR reflects the progress MarkWest has made in
bringing down its leverage despite an aggressive capital spending
program," said Stuart Miller, Moody's Senior Analyst. "MarkWest is
well-positioned to continue its growth, particularly in Appalachia
where activity levels in the Marcellus Shale, and possibly the
Utica Shale, will require significant infrastructure investment
over the next five to ten years. As MarkWest expands its presence
in the Marcellus Shale, Moody's expects an increase in fee-based
processing earnings which would improve the business profile."

MarkWest has geographic diversity and is one of the largest gas
gatherers and processors in the Granite Wash, the Woodford Shale,
and in the Marcellus Shale. Its scale and suite of services is a
barrier to entry for competitors looking to enter, or gain market
share, in these plays that are experiencing robust levels of
drilling activity.

MarkWest's EBITDA growth has out-paced its debt incurrence. As a
result, leverage has declined, and as of June 30, 2011, the ratio
of debt to EBITDA (with Moody's standard adjustments) stood at
3.7x. Moody's projections suggest that this level of leverage is
sustainable, which is one of the primary drivers to the rating
upgrade.

Despite the growth prospects and prudent management of the balance
sheet, the credit rating remains constrained by the commodity
price risk that is inherent in MarkWest's gas processing
contracts, and to a lesser degree, the volume risk associated with
production decline rates and drilling activity levels. Roughly 65%
of MarkWest's operating income is exposed to commodity price
volatility, although much of the near term risk has been hedged
with natural gas, crude oil, and a small portion of direct product
hedges. The ratings also remain constrained by the master limited
partnership organizational structure. Like many midstream master
limited partnerships, MarkWest has substantial negative free cash
flow because of significant growth capital expenditures and a high
distribution payout level, both of which increase credit risk and
reliance on external capital sources. Historically compared to its
peers, MarkWest has used a disciplined approach to financing its
growth with a balance of equity and debt issuance; the expectation
for a continuation of this practice is an important factor in
Moody's rating assessment.

To satisfy its short term liquidity needs, MarkWest relies on its
$745 million senior secured revolving credit facility. The credit
facility matures in July 2015 and is currently unused other than
about $30 million of letters of credit. The more than $700 million
of amount of availability is sufficient to fund the Partnership's
growth capital expenditures through 2012 alleviating any risk
associated with its ability to raise debt or equity in the capital
markets.

To be considered for any additional positive rating actions,
MarkWest would need to show a commitment to maintaining leverage
below 3.5x, or significantly increase the proportion of its
operating income generated through fee-based contracts.
Alternatively, a negative action could result if leverage
increases to 4.5x either due to the issuance of additional debt or
a fall off in operating performance.

The principal methodology used in rating MarkWest Energy Partners,
L.P. was the Global Midstream Energy rating methodology published
in November 2010. Other methodologies and factors that may have
been considered in the process of rating this issuer can also be
found on Moody's website.


MAS TEC: Moody's Keeps Ba3 Corporate After Expanded Bank Credit
---------------------------------------------------------------
Moody's Investors Service said MasTec, Inc.'s ratings, including
its Ba3 corporate family rating and the B1 rating on its $150
million senior unsecured notes due 2017, are not affected by the
company's announcement that it amended and restated its revolving
credit facility (unrated), increasing the commitment to $600
million from $260 million and extending the maturity date to
August 2016 from May 2013. The ratings outlook remains positive.

Corporate family rating at Ba3;

Probability of default rating at Ba3;

$150 million 7.625% senior unsecured notes due 2017 at B1 (LGD5,
79%);

Speculative grade liquidity rating at SGL-2.

The amended and restated revolving credit facility results in a
revision to the point estimates for the B1 rated $150 million
senior unsecured notes due 2017 to (LGD5, 79%) from (LGD4, 67%).

The last rating action was on April 29, 2011 when Moody's affirmed
MasTec's Ba3 corporate family rating and revised the ratings
outlook to positive from stable.

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

MasTec, Inc., headquartered in Coral Gables, Florida, is a leading
national infrastructure company operating in the United States.
The company reported revenues of approximately $2.7 billion for
the twelve months ended June 30, 2011.


MATCHES INC: Reports $892,200 Net Income in 2nd Quarter
-------------------------------------------------------
Matches, Inc., filed its quarterly report on Form 10-Q, reporting
net income of $892,246 on $30.4 million of sales for the three
months ended June 30, 2011, compared with net income of $840,195
on $19.8 million of sales for the same period last year.

The Company reported net income of $1.7 million on $49.2 million
of sales for the six months ended June 30, 2011, compared with net
income of $1.5 million on $30.7 million of sales for the same
period of 2010.

The Company's balance sheet at June 30, 2011, showed $60.3 million
in total assets, $43.2 million in total liabilities, and
stockholders' equity of $17.1 million.

As of June 30, 2011, and Dec. 31, 2010, the Company had negative
working capital of $5.7 million and $6.1 million.

As reported in the TCR on April 11, 2011, Bernstein & Pinchuk,
LLP, in New York, expressed substantial doubt about Matches,
Inc.'s ability to continue as a going concern, following the
Company's 2010 results.  The independent auditors noted that the
Company has negative working capital as of Dec. 31, 2010, and
2009.

A copy of the Form 10-Q is available at http://is.gd/m7WzjS

Matches, Inc. was incorporated pursuant to the laws of the State
of Wyoming on Nov. 28, 2007.  The Company is a premium chemical
fiber manufacturer of polyester fibers with operations based in
Suzhou, Jiangsu Province, China.  The Company primarily sells its
products to local distributors and textile manufacturers in the
People's Republic of China.


MAYVILLE DIE: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Mayville Die & Tool, Inc.
        700 N. Furnace Street
        Mayville, WI 53050

Bankruptcy Case No.: 11-33128

Chapter 11 Petition Date: August 25, 2011

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

Judge: James E. Shapiro

Debtor's Counsel: Jane(Ginger) F. Zimmerman, Esq.
                  Rebecca R. DeMarb, Esq.
                  MURPHY DESMOND S.C.
                  P.O. Box 2038
                  33 East Main Street, Suite 500
                  Madison, WI 53701-2038
                  Tel: (608) 257-7181
                  Fax: (608) 257-4333
                  E-mail: jzimmerman@murphydesmond.com
                          rdemarb@murphydesmond.com

Scheduled Assets: $2,603,622

Scheduled Debts: $3,221,806

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/wieb11-33128.pdf

The petition was signed by Glen Helmbrecht, president.


MCC HUMBLE: Court Directs Removal of Maaco Signage
--------------------------------------------------
Bankruptcy Judge Letitia Z. Paul conditioned the automatic stay in
the bankruptcy case of MCC Humble Auto Paint, Inc., on its removal
of Maaco Franchising, Inc.'s signs and identification.  In July
2006, James M. Gaarder, president of the Debtor, entered into a
franchise agreement with Maaco to open a "Maaco Center," defined
under the franchise agreement as a center "specializing in vehicle
painting and body repair," in Humble, Texas.  Mr. Gaarder assigned
his rights under the franchise agreement to the Debtor.  On Jan.
31, 2011, Maaco gave notice to the Debtor and Mr. Gaarder that
they were in default in, inter alia, paying franchise fees due
under the franchise agreement.  On May 11, 2011, it filed suit
against the Debtor and Mr. Gaarder in the United States District
Court for the Eastern District of Pennsylvania, seeking, inter
alia, injunctive relief enforcing the covenants of the franchise
agreement.  A preliminary injunction hearing was set for June 7,
2011, the date on which the Debtor filed its Chapter 11 petition.
Maaco seeks lifting of the automatic stay, in order to seek an
injunction prohibiting the Debtor from conducting any operations.

A copy of Judge Paul's Aug. 25, 2011 Memorandum Opinion is
available at http://is.gd/uNym52from Leagle.com.

MCC Humble Auto Paint, Inc. -- aka MCC Humble Auto Paint and Maaco
Colllision Repair and Auto Painting -- filed for Chapter 11
bankruptcy (Bankr. S.D. Texas Case No. 11-34994) on June 7, 2011,
listing under $1 million in assets and debts.  A copy of the
Debtor's petition is available at no charge at
http://bankrupt.com/misc/txsb11-34994.pdf


MCCLATCHY CO: Royal Bank Discloses 5.7% Equity Stake
----------------------------------------------------
In a Schedule 13G filing with the U.S. Securities and Exchange
Commission, The Royal Bank of Scotland N.V. and its affiliates
disclosed that they beneficially own 3,462,027 shares of common
stock of The McClatchy Company representing 5.73% of the shares
outstanding, based on 60,402,712 of Ordinary Shares reported to be
outstanding.  A full-text copy of the filing is available at no
charge at http://is.gd/JgClXo

                     About The McClatchy Company

Sacramento, Calif.-based The McClatchy Company  (NYSE: MNI)
-- http://www.mcclatchy.com/-- is the third largest newspaper
company in the United States, publishing 30 daily newspapers, 43
non-dailies, and direct marketing and direct mail operations.
McClatchy also operates leading local websites in each of its
markets which extend its audience reach.  The websites offer users
comprehensive news and information, advertising, e-commerce and
other services.  Together with its newspapers and direct marketing
products, these interactive operations make McClatchy the leading
local media company in each of its premium high growth markets.
McClatchy-owned newspapers include The Miami Herald, The
Sacramento Bee, the Fort Worth Star-Telegram, The Kansas City
Star, The Charlotte Observer, and The News & Observer (Raleigh).

The Company's balance sheet at June 30, 2011, showed $3.05 billion
in total assets, $2.85 billion in total liabilities, current and
non-current, and $203.47 million in total stockholders' equity.

                           *     *     *

In February 2010, Moody's Investors Service upgraded The McClatchy
Company's Corporate Family Rating to Caa1 from Caa2, Probability
of Default Rating to Caa1 from Caa2, and senior unsecured and
unguaranteed note ratings to Caa2 from Caa3, concluding the review
for upgrade initiated on January 27, 2010.  The upgrades reflect
McClatchy's improved liquidity position and reduced near-term
default risk following completion of the company's refinancing,
and its ability to stabilize EBITDA performance through
significant cost reductions.  The rating outlook is stable.

In the May 12, 2011, edition of the TCR, Standard & Poor's Ratings
Services lowered its corporate credit rating on Sacramento,
Calif.-based The McClatchy Co. to 'B-' from 'B'.  "The downgrade
reflects our expectation that continued declines in advertising
revenues will outweigh the company's cost reduction measures,
resulting in steadily rising debt leverage over the intermediate
term despite some modest debt reduction that will likely occur
over the near term," said Standard & Poor's credit analyst Harold
Diamond.  The 'B-' corporate credit rating on Sacramento, Calif.-
based McClatchy reflects Standard & Poor's expectation that
advertising revenues will decline at a high-single-digit% rate in
2011, and EBITDA will fall at a mid-double-digit pace.

As reported by the Troubled Company Reporter on Feb. 8, 2011,
Fitch Ratings has upgraded the Issuer Default Rating of the
McClatchy Company to 'B-'.  The Rating Outlook is Stable.  The
revenue declines endured by McClatchy in 2010 were materially
lower than Fitch's expectation.  Fitch had modeled declines in the
mid-teens versus actual declines in the mid-single digits.  While
Fitch expected the company to focus on cost containment, the
company's success exceeded Fitch expectations.  Fitch had expected
EBITDA to decline more than 10% versus actual EBITDA growth in the
mid-single digits.  As a result absolute debt and leverage were
better than Fitch expectations.  Fitch estimates 2010 year end
gross unadjusted leverage of approximately 4.7 times.  Fitch
expects the company will be able to meet its pension funding
obligations and satisfy all of its maturities up to and including
its senior unsecured notes due in 2014 ($169 million balance as of
Sept. 30, 2010).  Also, Fitch does not expect McClatchy will have
any issues meeting its credit agreement financial covenants (under
both Fitch's base and stress cases).


MCDERMOTT INT'L: Moody's Affirms 'Ba1' Corporate Family Rating
--------------------------------------------------------------
Moody's Investors Service assigned a Baa3 rating to McDermott
International Inc.'s new $950 million senior secured bank facility
(due 2016) and affirmed the company's Ba1 corporate family rating
and Ba2 probability of default rating. Moody's has withdrawn the
Baa3 rating on MDR's prior $900 million senior secured facility
(due 2014), which has been replaced by the new facility.

RATINGS RATIONALE

MDR's Ba1 corporate family rating reflects its leading position in
offshore oil and gas engineering and construction, a niche market
segment that has favorable long-term fundamentals. This E&C
industry segment is, however, highly competitive and cyclical and
MDR's large, fixed-price contracts are susceptible to cost
overruns. These risks are mitigated by the company's significant
order backlog, late-cycle contributions, a focus on project risk
management and MDR's strong market position. While the rating
incorporates Moody's expectation that acquisition activity and/or
increased capital expenditures may consume cash and cause its
adjusted leverage to rise from less than 1x currently, Moody's
expects MDR's balance sheet will remain conservatively leveraged
(comfortably below 2x adjusted Debt/ EBITDA) and supported by
strong liquidity, providing meaningful cushion against the
downside risks inherent in its business.

MDR's bank facility is guaranteed by its wholly owned subsidiaries
and secured by certain assets of the company and the subsidiary
guarantors. The facility is rated one notch higher than the
corporate family rating to reflect the benefit of the security
package, which positions the facility ahead of other claims,
primarily consisting of trade payables and a small amount of
underfunded pension obligations. MDR's new bank facility was not
drawn at the close of the transaction, although about $286 million
in letters of credit were outstanding.

The stable outlook considers Moody's view that while MDR's
measures of financial strength may periodically weaken due to
contract issues or, longer term, to pursue strategic growth
initiatives, the company's balance sheet is expected to remain
conservatively leveraged while its strong liquidity position
provides additional downside protection.

Upwards movement of MDR's ratings is unlikely in the near term but
could occur on a longer term basis should the company demonstrate
consistent disciplined bidding practices and strong project
execution. Key credit metrics associated with an upgrade would
include adjusted Debt/ EBITDA sustained below 1.25x. The rating
could be lowered should cost overruns lead to sustained EBITA
margins in the mid single digits, or should the company's balance
sheet deteriorate through either its growth ambitions or
shareholder return initiatives such that adjusted Debt/ EBITDA was
expected to be sustained above 2x.

Moody's last rating action on MDR was on August 4, 2011 when
Moody's affirmed all of the company's ratings.

The principal methodology used in rating MDR was the Global
Construction Industry Methodology, published November 2010. Other
methodologies used include Loss Given Default for Speculative-
Grade Non-Financial Companies in the U.S., Canada and EMEA,
published June 2009.

Headquartered in Houston, Texas, McDermott International, Inc. is
a leading full-service engineering and construction company
focused exclusively on offshore upstream oil & gas. Revenues for
the last twelve months ended June 30, 2011 were about $3 billion.


MFJT LLC: Hearing on Cash Collateral Use Continued Until Oct. 25
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois
has continued until Oct. 25, 2011, at 10:00 a.m., the hearing to
consider MFJT, LLC's request to access the cash collateral of BACM
2007-3 Aslip Complex, LLC.

As reported in the Troubled Company Reporter on July 20, 2011, the
lender will be granted valid, perfected, enforceable security
interests in the Debtor's posit-petition assets, including
proceeds and products thereof.

Among other things, the Debtor will maintain and pay premiums for
insurance to cover all of its assets form fire, theft and water
damages as adequate protection.

                          About MFJT, LLC

Alsip, Illinois-based MFJT, LLC -- dba Somerset Park Apartments
and Somerset II -- filed for Chapter 11 bankruptcy protection
(Bankr. N.D. Ill. Case No. 11-11819) on March 22, 2011.  David K.
Welch, Esq., at Crane Heyman Simon Welch & Clar, serves as the
Debtor's bankruptcy counsel.  The Debtor proposes to employ
Tailwind Services, LLC as its financial advisor.  The Debtor
disclosed $16,137,365 in assets and $17,952,853 in liabilities as
of the Chapter 11 filing.


MICHAELS STORES: Posts $10 Million Net Income in July 30 Quarter
----------------------------------------------------------------
Michaels Stores, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, reporting net income
of $10 million on $857 million of net sales for the quarter ended
July 30, 2011, compared with a net loss of $1 million on
$831 million of net sales for the quarter ended July 31, 2010.

The Company also reported net income of $47 million on
$1.81 billion of net sales for the six months ended July 30, 2011,
compared with net income of $12 million on $1.73 billion of net
sales for the six months ended July 31, 2010.

The Company's balance sheet at July 30, 2011, showed $1.57 billion
in total assets, $4.19 billion in total liabilities, and a
$2.61 billion total stockholders' deficit.

John Menzer, chief executive officer, said, "We are pleased with
the record levels of operating performance and continued balance
sheet improvements achieved during the second quarter and year-to-
date periods.  As we continue on the path to becoming a world
class retailer, these accomplishments reflect the progress we have
achieved in improving the business across the entire
organization."

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

                        http://is.gd/tkXq7e

                       About Michaels Stores

Headquartered in Irving, Texas, Michaels Stores, Inc., is the
largest arts and crafts specialty retailer in North America.  As
of March 9, 2009, the Company operated 1,105 "Michaels" retail
stores in the United States and Canada and 161 Aaron Brothers
Stores.

                          *     *     *

Michaels Stores carries a 'B3' corporate family rating from
Moody's Investors Service.

As reported by the Troubled Company Reporter on Oct. 8, 2010,
Moody's assigned Caa1 rating to Michaels Stores's proposed
$750 million senior unsecured bonds due 2018.  Proceeds from the
note offering will be used to tender for an existing $750 million
series of unsecured notes.  The refinancing, while improving the
maturity profile of the company, has no impact on Michaels'
current capital structure or ratings.

Moody's said Michaels' CFR reflects its significant financial
leverage and weak credit metrics.  It also recognizes Michaels'
leadership position in the highly fragmented arts and crafts
segment, and its high operating margins.  The rating takes into
consideration the company's participation in some segments that
have greater sensitivity to economic conditions, such as its
custom framing business.  Michaels' ratings also reflect its good
liquidity with limited near term debt maturities.


MILLENNIUM GLOBAL: U.S. Court Recognizes Bermuda Case
-----------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the Bermudian liquidators for Millennium Global
Emerging Credit Master Fund Ltd. are entitled to use bankruptcy
courts in the U.S., Bankruptcy Judge Allan Gropper ruled in a
36-page opinion on Aug. 26.

According to the report, Judge Gropper ruled that the court in
Bermuda should be the primary court in charge of the bankruptcy.
BCP Securities LLC, which is being investigated by the liquidators
and may be sued, objected to a finding that Bermuda was the
companies' "center of main interests."  Judge Gropper disagreed,
ruling that Bermuda is entitled to recognition as the "foreign
main bankruptcy." He therefore approved the Chapter 15 petition.
The ruling means that the liquidators from Bermuda may use
U.S. courts to perform an investigation and file suits.

A separate objection by GlobeOp Financial Services, LLC was
withdrawn after an agreement between the parties that if
recognition were granted, the automatic stay would not prevent
GlobeOp from pursuing any claims it may have against the Funds
outside the United States.

Meanwhile, Bermuda will distribute assets to creditors and
determine the validity of claims, according to the report.

Mr. Rochelle notes that Judge Gropper, a U.S. bankruptcy judge in
New York, disagreed with two prior rulings from other courts and
ruled that the location of the COMI, or center of main interests,
should be based on facts existing when the first liquidation began
in Bermuda.  He disagreed with other courts believing that the
plain meaning of Chapter 15 requires using facts when the Chapter
15 petition was filed.

According to Mr. Rochelle, the funds' COMI was in Bermuda, Judge
Gropper said, because two of the three directors were from Bermuda
while a bank, the custodian, and the auditor were also in Bermuda.
Judge Gropper said that Bermuda was the "only reasonably
ascertainable" COMI even though there were no creditors nor any
investors in Bermuda and the funds' manager was in the U.K. To
find the COMI anywhere else would be "pure speculation," Judge
Gropper said.  Judge Gropper also said there was "insufficient
evidence" to find a COMI anywhere besides Bermuda.

Judge Gropper, according to Mr. Rochelle's report, distinguished a
Chapter 15 case involving two hedge funds created by Bear Stearns
Cos. where U.S. Bankruptcy Judge Burton Lifland concluded that the
Cayman Island weren't the COMI because the business was run out of
New York.

Judge Gropper ended his opinion by ruling that the liquidators
were entitled to a two-year extension on time limits for filing
lawsuits under Section 108 of the Bankruptcy Code.

Judge Gropper said in his opinion that some $9 million already was
spent by the liquidators for lawyers in Bermuda and the U.S.
Chapter 15 is not a full-blown bankruptcy. It's designed to assist
a primary bankruptcy pending outside the U.S.

A copy of Judge Gropper's Aug. 26, 2011 Memorandum of Decision is
available at http://is.gd/vPYXvHfrom Leagle.com.

Attorneys for BCP Securities, LLC, are:

          Marc D. Powers, Esq.
          Oren J. Warshavsky, Esq.
          Natacha Carbajal, Esq.
          BAKER & HOSTETLER LLP
          45 Rockefeller Plaza, 11th Floor
          New York, NY 10111
          Tel: 212-589-4216
          Fax: 212-589-4201
          E-mail: mpowers@bakerlaw.com
                  owarshavsky@bakerlaw.com
                  ncarbajal@bakerlaw.com

Attorney for GlobeOp Financial Services, LLC, is:

          Jonathan D. Cogan, Esq.
          KOBRE & KIM LLP
          800 Third Avenue
          New York, NY 10022
          Tel: 212-488-1206
          Fax: 212-488-1226
          E-mail: Jonathan.Cogan@kobrekim.com

                   About Millennium Global Funds

Millennium Global Emerging Credit Fund Limited and Millennium
Global Emerging Credit Master Fund Limited filed petitions under
Chapter 15 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case Nos.
11-13171 and 11-13172) on June 30, 2011.  The two Millennium
entities were a pair of Bermuda-based funds created to invest in
sovereign and corporate debt instruments.  They were once
affiliated with U.K. investment manager Millennium Global
Investments Ltd.  The two Funds were ill-equipped to survive the
financial downturn of late 2008.  They went into liquidation in
Bermuda in October 2008 following default with their prime
brokers.

Michael W. Morrison, Charles Thresh and Richard Heis at KPMG
Advisory Ltd. have been appointed as liquidators and foreign
representatives of the Millennium funds in proceedings pending
before the Supreme Court of Bermuda, Commercial Court.

Judge Allan L. Gropper presides over the Chapter 15 cases.
Susheel Kirpalani, Esq., at Quinn Emanuel Urquhart & Sullivan LLP,
serves as counsel to the Foreign Representatives.

The Foreign Representatives estimated the assets of Millennium
Global Emerging Credit Master Fund between US$10 million and US$50
million, and its debts between US$100 million and US$500 million.
Millennium Global Emerging Credit Fund's assets and debts are
estimated to be between US$10 million to US$50 million.


MRA PELICAN: Court OKs Shraiberg Ferrara as Bankruptcy Counsel
--------------------------------------------------------------
The Southern District of California has approved MRA Pelican
Pointe Apartments, LLC's application to employ Shraiberg Ferrara &
Landau P.A. as Chapter 11 counsel.

SFL will be paid at these rates:

          Attorneys                         $250 - $425 per hour
          Legal assistants                   $110 per hour
          Bradley S. Shraiberg, Esq.         $425 per hour

Prior to the Petition Date, 3611 Joint Venture LLC paid SFL a
$15,000 retainer and 247 West 38th Realty Corp. paid SFL a $20,000
retainer.  An insider of the Debtor controls 3611 Joint Venture
and 247 West.  The retainer letter governing the firm's engagement
provides that a person or entity will provide SFL with an
additional payment of $7,000 on behalf of the Debtor within 30
days and $8,000 within 60 days.

Mr. Shraiberg, a partner at SFL, attests that his firm does not
represent any interest adverse to the Debtor, its estates or its
creditors.

                    About MRA Pelican Pointe

MRA Pelican Pointe Apartments, LLC, owns an apartment complex
commonly known as Whispering Isles Apartments in Pompano Beach,
Florida.  The property was being managed by Aryeh Kieffer of Boca
Raton-based Addison Advisors.

Pre-bankruptcy, Fannie Mae initiated a foreclosure action against
the property  in the Circuit Court of the 17th Judicial Circuit in
and for Broward County, Florida.  At Fannie Mae's behest, Margaret
Smith of Glass Ratner Advisory & Capitol Group LLC was appointed
as receiver.  The receiver has administered and operated the
apartment complex since May 17, 2011.

MRA Pelican filed for Chapter 11 bankruptcy (Bankr. S.D. Fla. Case
No. 11-32457) on Aug. 10, 2011.  Addison Advisors' Mr. Kieffer
signed the petition.  The Debtor's bankruptcy counsel is:

          Bradley S. Shraiberg, Esq.
          SHRAIBERG, FERRARA, & LANDAU P.A.
          2385 NW Executive Center Drive, #300
          Boca Raton, FL 33431
          Tel: (561) 443-0801
          Fax: (561) 998-0047
          E-mail: bshraiberg@sfl-pa.com

In its schedules, the Debtor listed $12,003,200 in assets and
$14,661,009 in debts.

Fannie Mae is represented by Gary M. Freedman, Esq., and Mark S.
Roher, Esq., at Tabas, Freedman, Soloff, Miller & Brown, P.A.


MSR RESORT: Resigned Members Want Settlement Agreement Denied
-------------------------------------------------------------
Resigned members of MSR Resort Golf Course LLC, et al.'s country
club, ask the U.S. Bankruptcy Court for the Southern District of
New York to deny the settlement agreement entered with La Quinta
Member Representatives.

James A. Hamilton, premier member of PGA West Golf Club with
resigned membership in December 2005, states that he is entitled
to $30,000 payment under the member deposit refund provisions of
GA West Membership Plan.

Mr. Hamilton says that the settlement agreement must be denied
because, among other things:

   -- neither the active nor the resigned members voted on or
      consented to the proposed settlement agreement;

   -- the La Quinta Member Representatives were chosen by the
      active members and the resigned members were not given a
      vote in the election of these representatives, Mr. Hamilton
      adds that he did not authorize the La Quinta to negotiate
      the settlement agreement on his behalf and there is nothing
      in the record to suggest that any other resigned member did
      so;

   -- the interest of the active and resigned members are in
      material conflict on some issues.  Mr. Hamilton says that
      the resigned members are concerned with the refund of their
      deposits while the active members' concern is the ongoing
      high quality operation of the clubs at current dues level.

According to Mr. Hamilton, the motion if granted, will bind all
the members, including all of the resigned members, to a
membership plan,

   a. the terms of which have been substantially altered;

   b. to the substantial benefit of the Debtors and
      disproportionate detriments of the resigned members as
      compared to  the active members;

   c. as a result of negotiations by negotiators not authorized to
      act for the resigned members who never told them about the
      terms under negotiation, much less sought their input,
      comment, or approval of the same.

In a separate motion, Carl & Maria Nordquist, inactive members of
the Citrus Country Club, state that they have serious concerns on
the "opt out" terms under the settlement agreement.  The terms in
the (b) option lack specificity in that they can not understand
how they would be treated if they choose to opt out.

Mr. and Mrs. Nordquist state that it is important that they
receive an appropriate and just degree of certainty.  They claim
that they have been on the resign list for about eight years and
are No. 2 to receive their resign refund of $85,000.

Kiki Leslie A. Tidwell, in her motion, states that the settlement
agreement offers an option to resigned members to opt out of the
50% reduction of the resign funds with two additional provisions.
Ms. Tidwell relates that the Debtors can increase resigned list
ratios to 4-for-1 at the Citrus Club or pay the resign funds at
net present value as a claim of the Debtors' estate.

Ms. Tidwell adds that she can only agree to the revised settlement
if those provisions were dropped and a resigned member is allowed
to opt out of the 50% reduction, with no diminishment in any other
rights.

A full-text copy of the Settlement Agreement is available for free
at http://bankrupt.com/misc/MSRRESORT_settlement_proposedorder.pdf

Ms. Tidwell is represented by:

         JAMES H.M. SPRAYGREEN, P.C.
         Paul M. Basta, Esq.
         Edward O. Sassower, Esq.
         Chad J. Husnk, Esq.
         KIRKLAND & ELLIS LLP
         601 Lexington Avenue
         New York, NY 10022

                         About MSR Resort

MSR Hotels & Resorts, formerly known as CNL Hotels & Resorts Inc.,
owns a portfolio of eight luxury hotels with over 5,500 guest
rooms, including the Arizona Biltmore Resort & Spa in Phoenix, the
Ritz-Carlton in Orlando, Fla., and Hawaii's Grand Wailea Resort
Hotel & Spa in Maui.

On Jan. 28, 2011, CNL-AB LLC acquired the equity interests in the
portfolio through a foreclosure proceeding.  CNL-AB LLC is a joint
venture consisting of affiliates of Paulson & Co. Inc., a joint
venture affiliated with Winthrop Realty Trust, and affiliates of
Capital Trust, Inc.

Morgan Stanley's CNL Hotels & Resorts Inc. owned the resorts
before the Jan. 28 foreclosure.

Following the acquisition, five of the resorts with mortgage debt
scheduled to mature on Feb. 1, 2011, were sent to Chapter 11 by
the Paulson and Winthrop joint venture affiliates.  MSR Resort
Golf Course LLC and its affiliates filed for Chapter 11 protection
(Bankr. S.D.N.Y. Lead Case No. 11-10372) in Manhattan on Feb. 1.
The resorts subject to the filings are Grand Wailea Resort and
Spa, Arizona Biltmore Resort and Spa, La Quinta Resort and Club
and PGA West, Doral Golf Resort and Spa, and Claremont Resort and
Spa.

James H.M. Sprayregen, P.C., Esq., Paul M. Basta, Esq., Edward O.
Sassower, Esq., and Chad J. Husnick, Esq., at Kirkland & Ellis,
LLP, serve as the Debtors' bankruptcy counsel.  Houlihan Lokey
Capital, Inc., is the Debtors' financial advisor.  Kurtzman Carson
Consultants LLC is the Debtors' claims agent.

The five resorts had $2.2 billion in assets and $1.9 billion in
debt as of Nov. 30, 2010, according to court filings.  In its
schedules, debtor MSR Resort disclosed $59,399,666 in total assets
and $1,013,213,968 in total liabilities.


NORTHCORE TECHNOLOGIES: Has "Speculative Buy" Rating from Byron
---------------------------------------------------------------
Northcore Technologies Inc. announced that Byron Capital Markets
has initiated coverage on Northcore Technologies with a
Speculative Buy rating and a target price of CAD$1.00.

In their 20-page research report, Special Situations analyst Al P.
Nagaraj provides a comprehensive overview of the Company.  The
report identifies future drivers of growth as Northcore's online
commercial platforms for large enterprises, including novel social
commerce environments.

                          About Northcore

Toronto, Ontario-based Northcore Technologies Inc. (TSX: NTI; OTC
BB: NTLNF) -- http://www.northcore.com/-- provides a Working
Capital Engine(TM) that helps organizations source, manage,
appraise and sell their capital equipment.  Northcore offers its
software solutions and support services to a growing number of
customers in a variety of sectors including financial services,
manufacturing, oil and gas and government.

Northcore owns 50% of GE Asset Manager, LLC, a joint business
venture with GE.  Together, the companies work with leading
organizations around the world to help them liberate more capital
value from their assets.

Northcore reported a net loss for the first quarter of C$574,000.
This compares with a net loss of C$677,000 in the fourth quarter
of 2010.  In the first quarter of 2010, Northcore reported a net
loss of $713,000.

Northcore reported consolidated revenues of C$183,000 for the
first quarter, an increase of 4% over the C$176,000 reported in
the fourth quarter of 2010.  In the same period of 2010, Northcore
reported consolidated revenues of C$150,000.

Certain adverse conditions and events cast substantial doubt upon
the ability of the Company to continue as a going concern, the
Company said in the filing.  "The Company has not yet realized
profitable operations and has relied on non-operational sources of
financing to fund operations."

The Company's balance sheet at June 30, 2011, showed C$1.39
million in total assets, C$1.33 million in total liabilities and
C$61,000 in total shareholders' equity.


MTB BRIDGEPORT: WSAH, TV42 in Bridgeport, Files Ch. 11 to Sell
--------------------------------------------------------------
MTB Bridgeport-NY Operating LLC, the owner of television station
WSAH, channel 42, filed a Chapter 11 petition (Bankr. D. Del. Case
No. 11-12707) on Aug. 26.

Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the Debtor intends to sell the business on a
$12 million credit bid to secured lenders owed $5.3 million on a
first-lien revolving credit and $68.6 million on two first-lien
term loans.

NRJ TV LLC acquired the first-lien debt in September 2010. One of
the owners of NRJ, Titan Broadcast Management LLC, is currently
operating the station.  Four other sister stations were
already sold for cash.  There is also $46.3 million in second-lien
debt. Drawbridge Special Opportunities Fund LP is agent for the
senior lenders.  The loans were in default since 2007.

According to the report, NRJ is proposing to be the so-called
stalking horse bidder at an auction to be sanctioned by the
bankruptcy court.  Rather than cash, NRJ would purchase the
station in exchange for $12 million in secured debt and the
obligation to pay the cost of curing contract defaults on
contracts to be taken over in the sale.

Mr. Rochelle relates that the lenders are providing $650,000 in
secured lending to finance the Chapter 11 case.

The station currently broadcasts 12 hours of programming each day
provided on a barter basis by Retro Television Network.  The other
12 hours are paid programming.


NTELOS HOLDINGS: S&P Affirms 'BB-' Corporate Credit Rating
----------------------------------------------------------
Standard & Poor's Ratings Services affirmed the 'BB-' corporate
credit rating and stable outlook on NTELOS Holdings Inc. "At the
same time, we placed the issue-level rating on NTELOS' secured
credit facilities on CreditWatch with negative implications.
Subsequent to the spin-off of the wireline properties, we expect
to lower the rating on NTELOS' secured debt to 'BB-' from 'BB',
reflecting our view of weaker recovery prospects. The revised
recovery rating on the secured debt after the wireline spin-off
will be '3', indicating our expectation for meaningful (50% to
70%) recovery of principal in the event of a default. The current
recovery rating of '2', which does not incorporate the impact of
the wireline separation, indicates an expectation of substantial
(70% to 90%) recovery," S&P related.

"The 'BB-' corporate credit rating and stable outlook on
Waynesboro, Va.-based communications provider NTELOS incorporate
the impact of the pending separation of the company's wireless and
wireline businesses," explained Standard & Poor's credit analyst
Richard Siderman. NTELOS will become a pure regional wireless
company upon the spin-off its competitive local exchange (CLEC)
and rural local exchange (RLEC) businesses to newly created Lumos
Networks Inc (Lumos).

As part of the transaction, which NTELOS expects to close in 2011,
unrated Lumos will pay NTELOS a dividend of between $315 million
to $325 million, the bulk of those proceeds to be used by NTELOS
to repay a portion of its term loan, reducing the outstanding
balance to under $460 million.

"We expect to lower the secured debt rating by one notch upon
separation of the two businesses," said Mr. Siderman, "reflecting
our view that despite the reduction of the term loan from the
Lumos dividend, spinning off the wireline properties weakens
recovery prospects for NTELOS' secured credit facilities." In
particular, that view contemplates the potential scenario in which
the Sprint wholesale services contract, responsible for a
significant and growing share revenue, either is not renewed in
2015 or is renewed under markedly less favorable terms.
"Accordingly, we expect to revise the recovery rating for the
secured credit facilities to '3', indicating our expectation of
50%-70% recovery of principal in the event of a default from the
current '2' recovery rating, which denotes 70%-90% recovery of
principal," S&P related.


NUTRITION 21: Case Summary & 12 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Nutrition 21, Inc.
        4 Manhattanville Road
        Purchase, NY 10577

Bankruptcy Case No.: 11-23712

Affiliates that simultaneously sought Chapter 11 protection:

        Debtor                        Case No.
        ------                        --------
Nutrition 21, LLC                     11-23713
Hearts Content, Inc.                  11-23714
Iceland Health, LLC                   11-23715

Chapter 11 Petition Date: August 26, 2011

Court: U.S. Bankruptcy Court
       Southern District of New York (White Plains)

Judge: Robert D. Drain

Debtor's Counsel: Michael Friedman, Esq.
                  RICHARDS KIBBE & ORBE
                  One World Financial Center, 29th Floor
                  New York, NY 10281
                  Tel: (212) 530-1846
                  Fax: (212) 530-1801
                  E-mail: mfriedman@rkollp.com

Lead Debtor's
Scheduled Assets: $7,225,234

Lead Debtor's
Scheduled Debts: $112,845,276

The petitions were signed by Alan Kirschbaum, chief financial
officer.

List of 12 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Nutrition 21, LLC                  Intercompany       $110,630,797
4 Manhattanville Road              Receivable
Purchase, NY 10577

Walgreen Co. Inc.                  Legal Dispute        $1,600,000
200 Wilmont Road
Deerfield, IL 60015

Ultimate Formulations Inc.         Legal Dispute          $126,184
dba Best Formulations

James Komorowski                   Employee Wages and      $98,245
                                   Benefits

Steven Sundell                     Employee Wages and      $58,295
                                   Benefits

Alpha Jallow                       Employee Wages and      $44,923
                                   Benefits

David Pagura                       Employee Wages and      $34,892
                                   Benefits

US Customs and Borders Protect     Legal Dispute           $30,949

Cassie Tillman-Randall             Employee Wages and      $20,408
                                   Benefits

Gail Kraljevic                     Employee Wages and      $19,286
                                   Benefits

Kate Wallour                       Employee Wages and       $8,562
                                   Benefits

Joanne Goldstein                   Employee Wages and       $3,150
                                   Benefits


OMEGA NAVIGATION: HSH Nordbank Seeks Case Dismissal or Conversion
-----------------------------------------------------------------
HSH Nordbank AG, agent for certain banks as lenders under the
senior facilities agreement, asks the U.S. Bankruptcy Court for
the Southern District of Texas to dismiss the Chapter 11 cases of
Omega Navigation Enterprises, Inc. and its debtor-affiliates or
convert them to cases under Chapter 7 of the Bankruptcy Code.

Robin Russell, Esq., at Andrews Kurth LLP, in Houston, Texas,
contends that the Debtors filed the cases solely as a litigation
tactic in their campaign against the Senior Facilities Lenders and
to avoid repayment of their senior secured loan obligations.

The Senior Facilities Lenders' claims aggregating $242.72 million
in outstanding principal plus unpaid prepetition interest, fees,
and expenses, has already exceeded the value of the collateral
whose value is diminishing, Mr. Russell tells the Court.

The collateral is composed of eight ships worth $239 million.

Mr. Russell notes that the Debtors are operating the Ships and
using the Senior Facilities Lenders' cash collateral to fund the
Chapter 11 cases.  He adds that the Debtors have suggested no
steps they intend to take to reorganize and emerge from Chapter 11
as viable entities.

"Rather the Debtors' entire reorganization plan is an open ended
wager by entrenched management with the Senior Facilities Lenders'
collateral at stake," Mr. Russell says.

The Law demands that the Senior Facilities Lenders are not
required to bear the risk, and the Chapter 11 cases should be
dismissed or converted to Chapter 7 as soon as possible.

Furthermore, Mr. Russell notes that the Debtors are foreign
Debtors organized under foreign law with minimal contacts in the
United States and whose principal secured creditors are non-U.S.
banks.  He adds that their loan agreements were negotiated outside
the United States and are governed by English law, which provides
that the courts of England are the exclusive forum for resolution
of disputes thereunder.

Mr. Russell tells the Court that the Debtors are being sued by the
Senior Facilities Lenders in England.

                      About Omega Navigation

Athens, Greece-based Omega Navigation Enterprises Inc. and
affiliates, owner and operator of tankers carrying refined
petroleum products, filed for Chapter 11 protection (Bankr. S.D.
Tex. Lead Case No. 11-35926) on July 8, 2011, in Houston.

Omega is an international provider of marine transportation
services focusing on seaborne transportation of refined petroleum
products.  The Debtors disclosed assets of US$527.6 million and
debt totaling US$359.5 million.  Together, the Debtors wholly own
a fleet of eight high-specification product tankers, with each
vessel owned by a separate debtor entity.

Bracewell & Giuliani LLP serves as counsel to the Debtors.
Jefferies & Company, Inc. is the financial advisor.


OMEGA NAVIGATION: Retains Bracewell & Giuliani as Counsel
---------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas has
authorized Baytown Navigation, Inc. and its debtor-affiliates to
employ Bracewell & Giuliani LLP as counsel effective as of the
Petition Date.

The firm's hourly rates are: partner at $710 to $1,050, associate
at $315 to $600 and paralegal at $215 to $255.

                      About Omega Navigation

Athens, Greece-based Omega Navigation Enterprises Inc. and
affiliates, owner and operator of tankers carrying refined
petroleum products, filed for Chapter 11 protection (Bankr. S.D.
Tex. Lead Case No. 11-35926) on July 8, 2011, in Houston.

Omega is an international provider of marine transportation
services focusing on seaborne transportation of refined petroleum
products.  The Debtors disclosed assets of US$527.6 million and
debt totaling US$359.5 million.  Together, the Debtors wholly own
a fleet of eight high-specification product tankers, with each
vessel owned by a separate debtor entity.

Jefferies & Company, Inc., is the financial advisor.


ORDWAY RESEARCH: Converts Case to Chapter 7 Liquidation
-------------------------------------------------------
Larry Rulison at Times Union reports that the federal bankruptcy
case of the Ordway Research Institute in Albany has been converted
from a Chapter 11 case to a Chapter 7 liquidation.   Times Union
notes that although the case was filed as a Chapter 11
reorganization back in April, it became increasingly clear that
Ordway would likely have to close its doors and sell its assets in
order to pay its creditors.  A trustee, Gregory Harris of Albany,
was also appointed to the case, Times Union adds.

                       About Ordway Research

Albany, New York-based Ordway Research Institute, Inc., was formed
in 2002 to facilitate inter-institutional and interdisciplinary
collaborations in basic and translational biomedical research in
New York's Capital District.  Ordway's research is focused on drug
development in cancer, emerging infections and signal
transduction/endocrinology.

Ordway filed for Chapter 11 protection (Bankr. S.D.N.Y. Case
No. 11-11322) on April 28, 2011.  Bankruptcy Judge Robert E.
Littlefield, Jr., presides over the case.  Gregory J. Mascitti,
Esq., at LeClairRyan, A Professional Corporation, represents the
Debtor in its restructuring effort.  As of April 26, 2011, Ordway
had roughly $12,158,202 in assets and $17,108,847 in liabilities.
In its schedules, the Debtor disclosed $6,615,279 in assets and
$18,703,061 in liabilities.


PARKERVISION INC: Posts $3.5 Million Net Loss in Q2 Ended June 30
-----------------------------------------------------------------
ParkerVision, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $3.5 million on $nil revenue for the three
months ended June 30, 2011, compared with a net loss of
$3.8 million on $nil revenue for the same period last year.

The Company reported a net loss of $6.9 million on $0 revenue for
the six months ended June 30, 2011, compared with a net loss of
$7.7 million on $63,735 of revenue for the same period of 2010.

The Company's balance sheet at June 30, 2011, showed $16.0 million
in total assets, $1.1 million in total liabilities, and
stockholders' equity of $14.9 million.

As reported in the TCR on April 11, 2011, PricewaterhouseCoopers
LLP, in Jacksonville, Florida, expressed substantial doubt about
ParkerVision's ability to continue as a going concern, following
the Company's 2010 results.  The independent auditors noted that
the Company has suffered recurring losses from operations.

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

Jacksonville, Fla.-based ParkerVision, Inc. (Nasdaq: PRKR)
-- http://www.parkervision.com/-- designs, develops and markets
its proprietary radio frequency technologies which enable advanced
wireless communications for current and next generation mobile
communications networks.


PAUL BRENNEKE: Files List of Four Largest Unsecured Creditors
-------------------------------------------------------------
Paul Brenneke Qualified Personal Residence Trust UDT has filed
with the U.S. Bankruptcy Court for the District of Oregon a list
of its four largest unsecured creditors.

Debtor's List of Four Largest Unsecured Creditors:

  Entity                          Nature of Claim    Claim Amount
  ------                          ---------------    ------------
Union Bank/Frontier Bank                             $1,127,426.98
c/o Masashi Oka, President & CEO                     Collateral:
400 California Street                                $4,200,000.00
San Francisco, CA 94104             Trust Deed       Unsecured:
                                                       $910,731.98

D&J Remodeling
c/o Dave Jones
20672 NW Quail Hollow
Portland, OR 97229                                     $367,511.00

Interior Audio
c/o Stewart Barnett
4101 NW 118th Circle
Vancouver, WA 98685                                     $75,000.00

Venice Genoa Tile, C/O Victor LeNettoyeur               $47,020.16
C/O Jimmy Drakos Trustee                             Collateral:
333 S. State Street, #286                            $4,200,000.00
Lake Oswego, OR 97034               Lien             Unsecured:
                                                        $47,020.16

       About Paul Brenneke Qualified Personal Residence Trust

Z&A Irrevocable Trust UDT, Elene Dunavan, Jones Dave D&J
Remodeling, and Victor Le Nettoyeur LLC filed for Involuntary
Chapter 11 protection for Portland, Oregon-based Paul Brenneke
Qualified Personal Residence Trust UDT (Bankr. D. Ore. Case No.
11-31975) on March 14, 2011.  Judge Trish M. Brown presides over
the case.  The petitioners are represented by Robert S. Simon,
Esq., at Robert S. Simon P.C.


PIEDMONT CENTER: Bankr. Administrator Wants Chapter 11 Trustee
--------------------------------------------------------------
Bankruptcy administrator Marjorie K. Lynch asks the U.S.
Bankruptcy Court for the Eastern District of North Carolina for
permission to appoint a Chapter 11 trustee for Piedmont Center
Investments LLC.

Ms. Lynch tells the Court that, on Aug. 3, 2011, a Federal
Grand Jury in the Eastern District of North Carolina issued a
Superseding Indictment against Roger Van Santvoord Camp.  The
indictment contains fifteen felony counts related to bank fraud,
false statements and identity theft.  Upon information and belief,
Roger Van Santvoord Camp is in fact the same individual who
authorized the filing of the Debtor's petition, Roger V. Camp.

Ms. Lynch says Mr. Roger V. Camp aka Roger Van Santvoord Camp is
in control of the debtor in possession.

Mr. Camp, as manager, signed a Chapter 11 petition for Piedmont
Center Investments, LLC (Bankr. E.D.N.C. Case No. 11-06178) on
Aug. 11, 2011.  Trawick H. Stubbs, Jr., Esq., at Stubbs & Perdue,
P.A., in New Bern, North Carolina, serves as counsel to the
Debtor.  In its schedules, the Debtor disclosed $27.2 million in
assets and $15.5 million in liabilities.


PIERRE DEUX: Potential Buyers Has Until This Week to Submit Bids
----------------------------------------------------------------
Great American Group, Inc. has partnered with LiquiTec Industries,
Inc. to assist with the liquidation of all the items contained
within two Pierre Deux warehouse/distribution centers in Secaucus,
New Jersey.

Great American Group has managed a going-out-of-business sale for
Pierre Deux retail stores since Aug. 11.  A retail chain of French
furnishing stores that operated across 13 states, Pierre Deux
ceased business operations and filed for Chapter 7 bankruptcy
protection on June 23 of this year.

According to LiquiTec Vice President Katherine Walls, her company
is now conducting a complete liquidation of all furniture,
fixtures and equipment including material handling equipment,
embroidery and fabric machines, office furniture and business
machines at Pierre Deux's two warehouse and distribution centers.

"We're only accepting bids through the end of this week, so we
would urge potential buyers to contact us at (818) 710-3876,
extension 5113, or visit our website at www.liquitec.net for
further details on the liquidation," she said.

Pierre Deux' former warehouse/distribution facilities are located
at 180 Seaview Dr. and at 40 Enterprise Ave. North in Secaucus,
New Jersey.  Liquidation items can be inspected at the Seaview
Drive location until 12:00 p.m. Wed, Aug. 31 and at the Enterprise
Avenue location from 9:00 a.m. to 3:00 p.m. Tuesday, Aug. 30,
through Friday, Sept. 2.  People should contact Billy Parengkuan
at 631-278-7686, or by e-mail at bparengkuan@liquitec.net, to
schedule an appointment.

Bids are being accepted until 4:00 p.m. CDT Friday, Sept. 2. For
more details about the assets on sale or instructions on how to
bid, visit www.liquitec.net.

In addition, Great American Group is continuing its going-out-of-
business sale at the former Pierre Deux retail sites in
California, Colorado, Connecticut, Georgia, Illinois, Maryland,
Massachusetts, New Jersey, New York, North Carolina, Pennsylvania,
Texas, and Virginia.  The stores contained an estimated $22
million in retail inventory when the sale began.  Consumers still
expect to find an array of items from home d‚cor, furniture, rugs,
tabletop items, lighting, handbags, wall paper and fabrics.

Pierre Le Vec and Pierre Moulin opened the first Pierre Deux shop
in Greenwich Village in 1967, promoting French art de vivre and
the French country way to America.  Pierre Deux imported antique
furniture from the provinces and sold signature curtains, pillows
and fabrics to accent the furniture.

                   About Great American Group

Great American Group, LLC (OTCBB: GAMR) --
http://www.greatamerican.com-- is a provider of asset disposition
solutions and valuation and appraisal services to a wide range of
retail, wholesale and industrial clients, as well as lenders,
capital providers, private equity investors and professional
service firms.  Great American Group has offices in Atlanta,
Boston, Chicago, Dallas, London, Los Angeles, New York and San
Francisco.

                  About LiquiTec Industries, Inc.

LiquiTec Industries, Inc. -- http://www.liquitec.net-- is a
global asset management and disposition firm that helps major
corporations maximize return on and return of investment.  The
firm works with clients including the Fortune 1000, major
manufactures, contractors, suppliers, asset-based lenders and
professionals to sell non-strategic and surplus assets.  LiquiTec
acts as advisors, liquidators/auctioneers and brokers.  The firm
serves clients from 13 offices and strategic alliances worldwide.


PLATINUM RIDGE: Places Three Hotels on Auction Block
----------------------------------------------------
Brian R. Ball at Columbus Business First reports that three of the
five hotels at Port Columbus International Airport could be headed
for the seller's block as affiliates of Platinum Ridge Properties
LLC move to exit Chapter 11 bankruptcy reorganization.

According to the report, a failure to find a buyer by Oct. 10,
2011, could, however, push a dispute between main creditor GE
Capital Finance and the controlling owner of the Comfort Suites,
Hilton Garden Inn and Hampton Inn into Franklin County Common
Pleas Court, where the hotels could land in receivership.

They ended up in U.S. Bankruptcy Court in March, when GE Capital
said it would take Platinum Ridge and its affiliates -- CS
Investors LLC, HI Investors LLC and Airport Garden Investors LLC -
- to court over defaulting on loans, according to the report.  The
three limited liability companies owe a combined $32 million
stemming from the 2005 purchase of the hotels.

A July order from Bankruptcy Court Judge John Hoffman Jr. called
for the sale of the properties at a price and terms, "acceptable
to GE."  It also called for the Platinum Ridge affiliates' Chapter
11 cases to be dismissed Oct. 11 if a buyer isn't found.

The three hotels, along with a Baymont Inn & Suites and the
Concourse Hotel, owned by other Platinum Ridge-led partnerships,
stopped making ground-lease payments to the Columbus Regional
Airport Authority in early 2009 as the recession took a toll on
business travel.  The authority runs the airport.

The report notes Platinum Ridge handed over control of the
Concourse Hotel to lender WesBanco Bank Inc. in September 2009.
That property still is seeking a buyer.

Business First relates that the Baymont Inn, meanwhile, awaits the
scheduling of a sheriff's auction stemming from a December 2009
foreclosure filing by Delaware County Bank & Trust Co.

Based in Dublin, Ohio, Airport Garden Investors LLC filed for
Chapter 11 bankruptcy protection (Bankr. S.D. Ohio Case No. 11-
52556) on March 15, 2011.  Judge Charles M. Caldwell presides over
the case.  Robert J. Morje, Esq., represents the Debtor.  The
Debtor estimated assets between $1 million and $10 million, and
debts between $10 million and $50 million.


POINT BLANK: Inks Stalking Horse Asset Purchase Deal with Gores
---------------------------------------------------------------
Point Blank Solutions, Inc. has entered into a "stalking horse"
Asset Purchase Agreement with an affiliate of The Gores Group, a
well known and established private equity firm.  The Company has
submitted the APA to the Bankruptcy Court and intends to conduct a
Court-supervised auction of its business under Section 363 of the
U.S. Bankruptcy Code.

Under the terms of the APA, The Gores Group would purchase
substantially all of the Company's operating assets, subject to
various conditions, the completion of the auction process and
Bankruptcy Court approval.  Based on the current timeline, the
Company expects the purchase and sale transaction to be
consummated by November 2011.

Jim Henderson, CEO of Point Blank Solutions stated, "Despite our
being in Chapter 11, we continue to make significant improvements
in our ability to service our customers - starting with R&D,
manufacturing and continuing throughout our customer service and
sales organization.  We've enhanced our supply chain
relationships, formed new alliances, and brought to market the
industry's most advanced and innovative ballistic solutions.  Our
delivery times are second to none and we are well positioned in
the markets we service.  With this Agreement in place with The
Gores Group, we believe the business will emerge from this process
shortly and be much stronger.  Gores has a proven track record and
a strong reputation for operational excellence; and we believe
they will be a great asset enabling the business to grow into the
future."

Scott Avila, Chief Restructuring Officer of Point Blank, added,
"We have been working hard to find the right buyer for the
business and have explored a number of strategic options to
maximize value for Point Blank's creditors and stockholders.
This Asset Purchase Agreement with The Gores Group, which has the
support of the respective committees, provides the best avenue for
impacted stakeholders."

Mr. Henderson continued, "Since we filed for Chapter 11, we have
stayed true to our word that it is business as usual at Point
Blank.  I am proud of the sacrifices and commitments our employees
have made and for the continued support of our business partners
and our growing customer base, all of which have enabled us to
maximize the value to be realized by the Company through this
transaction."

Pachulski Stang Ziehl & Jones LLP served as the Company's general
bankruptcy counsel and CRG Partners Group, LLC served as its Chief
Restructuring Officer and financial advisor.
The Bankruptcy Case is In re Point Blank Solutions, Inc., Bankr.
Del. Case No. 10-11255 (PJW).

                       About Point Blank

Headquartered in Pompano Beach, Florida, Point Blank Solutions,
Inc. -- http://www.pointblanksolutionsinc.com/-- designs and
produces body armor systems for the U.S. Military, Government and
law enforcement agencies, as well as select international markets.
The Company maintains facilities in Pompano Beach, Florida, and
Jacksboro, Tennessee.

The Company's former chief executive officer and chief operating
officer were convicted in September 2010 of orchestrating a
$185 million fraud.

Point Blank Solutions, formerly DHB Industries, filed for
Chapter 11 protection (Bankr. D. Del. Case No. 10-11255) on
April 14, 2010.  Laura Davis Jones, Esq., Alan J. Kornfeld, Esq.,
David M. Bertenthal, Esq., and Timothy P. Cairns, Esq., at
Pachulski Stang Ziehl & Jones LLP, serve as bankruptcy counsel to
the Debtor.  Olshan Grundman Frome Rosenweig & Wolosky LLP serves
as corporate counsel.  T. Scott Avila of CRG Partners Group LLC is
the restructuring officer.  Epiq Bankruptcy Solutions serves as
claims and notice agent.

The U.S. Trustee has appointed an Official Committee of Unsecured
Creditors and a separate Official Committee of Equity Security
Holders in the case.  Ian Connor Bifferato, Esq., and Thomas F.
Driscoll III, Esq., at Bifferato LLC; and Carmen H. Lonstein,
Esq., Andrew P.R. McDermott, Esq., and Lawrence P. Vonckx, Esq.,
at Baker & McKenzie LLP, serve as counsel for the Official
Committee of Equity Security Holders.  Robert M. Hirsh, Esq., and
George P. Angelich, Esq., at Arent Fox LLP, serve as counsel to
the Creditors Committee, and Frederick B. Rosner, Esq., and Brian
L. Arban, Esq., at the Rosner Law Group LLC, serve as co-counsel.


PORTER BANCORP: Posts $40 Million Net Loss in 2nd Quarter
---------------------------------------------------------
Porter Bancorp, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $40.0 million for the three months ended
June 30, 2011, compared with a net loss of $1.1 million for the
same period last year.  Net interest income was $13.4 million for
the three months ended June 30, 2011, a decrease of $1.3 million,
or 8.7%, compared with $14.7 million for the same period in 2010.

The Company reported a net loss of $39.2 million for the six
months ended June 30, 2011, compared with net income of
$2.1 million for the same period of 2010.  Net interest income was
$27.2 million for the six months ended June 30, 2011, a decrease
of $1.7 million, or 5.9%, compared with $28.9 for the same period
of 2010.

The Company's balance sheet at June 30, 2011, showed $1.676
billion in total assets, $1.526 billion in total liabilities, and
stockholders' equity of $150.4 million.

On June 24, 2011, PBI Bank entered into a Consent Order with the
FDIC and the Kentucky Department of Financial Institutions.  The
consent order requires the Bank, among other things, to maintain
Tier 1 capital as a percentage of total assets of at least 9% and
a total risk based capital ratio of at least 12%.

On July 29, 2011, the Bank filed its call report, indicating that
its Tier 1 leverage ratio had declined to 8.83% which is below the
9.0% minimum capital ratio required by the Consent Order.

Failure to meet minimum capital requirements can initiate certain
mandatory and possibly additional discretionary actions by
regulators that, if undertaken, could have a materially adverse
effect on the Company's financial condition.

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

Porter Bancorp, Inc. (NASDAQ: PBIB) is a Louisville, Kentucky-
based bank holding company which operates 18 full-service banking
offices in twelve counties through its wholly-owned subsidiary,
PBI Bank.  Its markets include metropolitan Louisville in
Jefferson County and the surrounding counties of Henry and
Bullitt, and extend south along the Interstate 65 corridor to
Tennessee.  The Company serves south central Kentucky and southern
Kentucky from banking offices in Butler, Green, Hart, Edmonson,
Barren, Warren, Ohio and Daviess Counties.  The Company also has
an office in Lexington Kentucky, the second largest city in
Kentucky.

The Bank is both a traditional community bank with a wide range of
commercial and personal banking products, including wealth
management and trust services, and an innovative online bank which
delivers competitive deposit products and services through an
online banking division operating under the name of Ascencia.


PUBLIC MEDIA: Two Directors Resign from Board
---------------------------------------------
Each of Mr. Edward Frumkes and Mr. Joseph Merhi has resigned from
the Board of Directors of Public Media Works, Inc., effective as
of Aug. 23, 2011.  Their resignations are not due to any
disagreements with the Company known to any executive officer of
the Company.

                      About Public Media Works

Sausalito, Calif.-based Public Media Works, Inc., and its wholly-
owned subsidiary, EntertainmentXpress, Inc., a California
corporation , are engaged in the business of offering self-service
kiosks which deliver DVD movies to consumers.

Public Media Works, Inc., has historically been engaged in the
development, production, marketing and distribution of film, music
and television entertainment titles.  The Company has an ownership
interest in several film and television projects, but expects no
revenue from these projects.  As of May 4, 2010 with the
acquisition of Entertainment Xpress, Inc., the Company has focused
exclusively on its kiosk business and intends to continue this
focus going forward.  In March 2011, the Company installed its
first 25 kiosks under the DBA of "Spot. The difference(TM)".

Anton & Chia, LLP, in Newport Beach, California, expressed
substantial doubt about Pubic Media Works' ability to continue as
a going concern.  The independent auditors noted that the Company
has incurred significant recurring net losses and negative cash
flows from operations through Feb. 28, 2011, and it has an
accumulated deficit of $12.83 million as of Feb. 28, 2011.

The Company reported a net loss of $7.68 million on $7,139 of
revenue for the fiscal year ended Feb. 28, 2011, compared with a
net loss of $108,435 on $50,000 of revenue for the fiscal year
ended Feb. 28, 2010.

The Company's balance sheet at May 31, 2011, showed $862,106 in
total assets, $1.17 million in total liabilities and a $307,366 in
total stockholders' deficit.


QR PROPERTIES: To Pay $7.5-Mil. to Webster Bank by Sept. 30
-----------------------------------------------------------
The Hon. Melvin S. Hoffman of the U.S. Bankruptcy Court for the
District of Massachusetts approved the stipulation dated July 13,
2011, for adequate protection payments entered between QR
Properties, LLC, and Webster Bank, National Association.

The Debtor relates that on March 1, 2011, it entered into a
purchase and sale agreement with Pulte Homes of New England, LLC
for the sale of a real property consisting of all of the land
located in Acton, Middlesex County, Massachusetts.  The agreement
provides, among other things, that, Pulte will pay $7,350,000 to
the Debtor for the premises, well as additional amounts to be
calculated.

On June 16, Webster Bank filed a motion seeking relief from the
automatic stay with respect to the premises.

In response to the bank's motion, the Debtor notes that its Plan
contemplates a closing of the sale of the premises to Pulte
pursuant to the agreement.  The Plan further provides for an
Effective Date no later than Sept. 30, 2011, and for the payment
of a sum certain to Webster Bank on or before Sept. 30, 2011.

The stipulation, provides that the Debtor will pay Webster Bank a
sum not less than $7,481,500 by Sept. 30, or the bank's motion for
relief from automatic stay will be granted, effective Oct. 3.

Webster Bank is represented by:

         Stephen A. Izzi, Esq.
         MOSES & AFONZO, LTD.
         160 Westrninster Street, Suite 400
         Providence, RI 02903
         Tel: (401) 453-3600
         E-mail: sizzi@moseafonzo.com

                    About QR Properties, LLC

Templeton, Massachusetts-based QR Properties, LLC, filed for
Chapter 11 bankruptcy protection (Bankr. D. Mass. Case No. 10-
45514) on Nov. 3, 2010.  Joseph G. Butler, Esq., at Barron &
Stadfeld, P.C., assists the Debtor in its restructuring effort.
The Debtor estimated its assets and debts at $10 million to
$50 million.


QUINCY MEDICAL: Selling Hospital to Steward Specialty for $38MM
---------------------------------------------------------------
Quincy Medical Center, Inc., et al., ask the U.S. Bankruptcy Court
for the District of Massachusetts for authorization to provide
notice to non-Company parties to the assigned agreements, in
accordance with the APA of the Debtors' proposed assumption and
assignment of the assigned agreements to Steward Specialty &
Research Corp., incident to closing of the proposed sale.

The Debtors relate that no competing bids were received by the
Debtor under the sale procedures established by the Court's order
entered July 19, 2011.

The Debtor, in consultation with U.S. Bank, National Association,
as indenture trustee for the Company's 2008 MHEFA bond issuance,
and the Official Committee of Unsecured Creditors of the Company,
has designated Steward as the winning bidder to purchase the
hospital and other assets that are the subject of the sale motion.

As reported in the Troubled Company Reporter on Aug. 11, 2011, the
Debtors with the assistance of its financial advisor Navigant

Capital Advisors, LLC, will sell assets utilized by the Company in
operating its business.  The assets are subject to various liens
and security interests, including those asserted by U.S. Bank
National Association, as trustee for holders of $60,250,000 of
Massachusetts Health and Educational Facilities Authority Revenue
Bonds, Quincy Medical Center Issue, Series A (2008); and Boston
Medical Center Corporation.  The assets will not be sold free and
clear of certain purchase money security interests.

The TCR reported on July 15, 2011, that the board of the Quincy
approved a deal to sell the hospital to Steward.

The TCR reported that if Quincy can resolve its present
$56 million in debt through bankruptcy proceedings, Steward has
agreed to pay $38 million for the hospital and make no less than
$34 million worth of improvements to its facilities in five years.
That $38 million will have to satisfy all the creditors -- from
the big bondholders to small creditors who have been supplying the
hospital with everything from X-ray frames to cleaning supplies.

Among the assets to be sold under the APA is QMC ED Physicians,
Inc.'s 10% ownership interest in BMC NAB Business Trust, a
Massachusetts business trust.  Boston Medical Center Corporation,
a Massachusetts charitable corporation, owns the other 90%
interest in the trust.

In addition, bidders may submit offers to purchase only the QED
shares.

Also among the assets to be sold under the APA are the Company's
rights under certain unexpired leases of real and personal
property, and under certain executory contracts, to be identified
by Steward pursuant to APA, or by any winning bidder.

                   About Quincy Medical Center

Quincy Medical Center is a 196-bed, nonprofit hospital in Quincy,
Massachusetts.

Quincy Medical Center, Inc. together with two affiliates, sought
Chapter 11 protection (Bankr. D. Mass. Lead Case No. 11-16394) on
July 1, 2011.

John T. Morrier, Esq., at Casner & Edwards, LLP, in Boston, serves
as counsel to the Debtors.  Navigant Capital Advisor LLC and
Navigant Consulting Inc. serve as financial advisors.  Epiq
Bankruptcy Solutions LLC is the claims, noticing, and balloting
agent.

Quincy disclosed assets of $73 million and liabilities of
$79.4 million.  Debt includes $56.4 million owing on secured bonds
issued through a state health-care finance agency.  There is
another $2.5 million secured obligation owing to Boston Medical
Center Corp.  Accrued liabilities are $18.2 million.  As reported
in the Troubled Company Reporter on Aug. 9, 2011, Quincy disclosed
$71,214,530 in assets and $81,319,414 in liabilities.

On July 12, 2011, the U.S. Trustee for the District of
Massachusetts appointed the Official Committee of Unsecured
Creditors.


QUINCY MEDICAL: P. Care Ombudsman Taps Madoff & Khoury as Counsel
-----------------------------------------------------------------
Suzanne Koenig, the patient care ombudsman appointed in the
Chapter 11 cases of Quincy Medical Center, Inc., et al., asks the
U.S. Bankruptcy Court for the District of Massachusetts for
permission to retain Madoff & Khoury LLP as her counsel.

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

                   About Quincy Medical Center

Quincy Medical Center is a 196-bed, nonprofit hospital in Quincy,
Massachusetts.

Quincy Medical Center, Inc. together with two affiliates, sought
Chapter 11 protection (Bankr. D. Mass. Lead Case No. 11-16394) on
July 1, 2011.

John T. Morrier, Esq., at Casner & Edwards, LLP, in Boston, serves
as counsel to the Debtors.  Navigant Capital Advisor LLC and
Navigant Consulting Inc. serve as financial advisors.  Epiq
Bankruptcy Solutions LLC is the claims, noticing, and balloting
agent.

Quincy disclosed assets of $73 million and liabilities of
$79.4 million.  Debt includes $56.4 million owing on secured bonds
issued through a state health-care finance agency.  There is
another $2.5 million secured obligation owing to Boston Medical
Center Corp.  Accrued liabilities are $18.2 million.  As reported
in the Troubled Company Reporter on Aug. 9, 2011, Quincy disclosed
$71,214,530 in assets and $81,319,414 in liabilities.

On July 12, 2011, the U.S. Trustee for the District of
Massachusetts appointed the Official Committee of Unsecured
Creditors.


QUINCY MEDICAL: Navigant Capital Approved as Financial Advisor
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Massachusetts
authorized Quincy Medical Center, Inc., et al., to employ Navigant
Capital Advisors, LLC, and Navigant Consulting, Inc., as
financial advisor.

Pursuant to the Court's order, with respect to the firm's
strategic alternative and restructuring support services, the
Debtors are authorized to pay the firm its monthly fees during the
pendency of the Chapter 11 cases, including the firm's application
of retainer funds and the Debtors' replenishment of the retainer
without further order of the Court, provided that the firm will
submit monthly invoices in accordance with the interim
compensation procedures, and provided further that the interim
compensation procedures requiring delayed payment and a 10%
holdback will not apply to the monthly fees.  The Debtors are also
authorized to pay the deferred fee as and when due and payable.

                   About Quincy Medical Center

Quincy Medical Center is a 196-bed, nonprofit hospital in Quincy,
Massachusetts.

Quincy Medical Center, Inc. together with two affiliates, sought
Chapter 11 protection (Bankr. D. Mass. Lead Case No. 11-16394) on
July 1, 2011.

John T. Morrier, Esq., at Casner & Edwards, LLP, in Boston, serves
as counsel to the Debtors.  Navigant Capital Advisor LLC and
Navigant Consulting Inc. serve as financial advisors.  Epiq
Bankruptcy Solutions LLC is the claims, noticing, and balloting
agent.

Quincy disclosed assets of $73 million and liabilities of
$79.4 million.  Debt includes $56.4 million owing on secured bonds
issued through a state health-care finance agency.  There is
another $2.5 million secured obligation owing to Boston Medical
Center Corp.  Accrued liabilities are $18.2 million.


QUINCY MEDICAL: Sept. 1 Disclosure Statement Hearing Called Off
---------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Massachusetts
Quincy Medical Center, Inc., et al.'s request to excuse them from
filing the disclosure statement with respect to the proposed Plan
of Liquidation.

The Official Committee of Unsecured Creditors and U.S. Bank,
National Association, as indenture trustee for the Company's 2008
MHEFA bond issuance consented to the Debtors' request.

The Debtors related that the indenture trustee and the Committee
are in discussions concerning the terms of the Plan and specific
Plan provisions, and the parties require additional time within
which (i) to review and confirm certain financial information
pertinent to plan negotiations; and (ii) to evaluate the
information, conduct further plan negotiations based on such
information, and document any consensual plan (and related
disclosure statement) that may result from the negotiations.

The Court also canceled the Sept. 1 hearing on the adequacy of the
Disclosure Statement.

The Company hopes that a consensual plan can be filed in the near
term.  The parties concurrently herewith will seek a one-week
extension of the Court's interim cash collateral order to promote
negotiation toward a consensual plan.

                   About Quincy Medical Center

Quincy Medical Center is a 196-bed, nonprofit hospital in Quincy,
Massachusetts.

Quincy Medical Center, Inc. together with two affiliates, sought
Chapter 11 protection (Bankr. D. Mass. Lead Case No. 11-16394) on
July 1, 2011.

John T. Morrier, Esq., at Casner & Edwards, LLP, in Boston, serves
as counsel to the Debtors.  Navigant Capital Advisor LLC and
Navigant Consulting Inc. serve as financial advisors.  Epiq
Bankruptcy Solutions LLC is the claims, noticing, and balloting
agent.

Quincy disclosed assets of $73 million and liabilities of
$79.4 million.  Debt includes $56.4 million owing on secured bonds
issued through a state health-care finance agency.  There is
another $2.5 million secured obligation owing to Boston Medical
Center Corp.  Accrued liabilities are $18.2 million.  As reported
in the Troubled Company Reporter on Aug. 9, 2011, Quincy disclosed
$71,214,530 in assets and $81,319,414 in liabilities.

On July 12, 2011, the U.S. Trustee for the District of
Massachusetts appointed the Official Committee of Unsecured
Creditors.


QUINCY MEDICAL: Suzanne Koenig Appointed as Patient Care Ombudsman
------------------------------------------------------------------
William K. Harrington, U.S. Trustee for Region 1 appointed

         Suzanne A. Koenig
         SAK MANAGEMENT SERVICES, LLC
         One Northfield Plaza, Suite 480
         Northfield, IL 60093
         Tel: (847) 446-8400
         Fax: (847) 446-8432
         E-mail: skoenig@sakmgmt.com

as patient care ombudsman in the Chapter 11 case of Quincy Medical
Center, Inc., et al.

Previously, the U.S. Bankruptcy Court for the District of
Massachusetts directed the U.S. Trustee to appoint a patient care
ombudsman.

To the best of the U.S. Trustee's knowledge, Ms. Koenig is a
"disinterest person" as that term is defined in section 101(14) of
the Bankruptcy Code.

The U.S. Trustee is represented by:

         Stephen E. Meunier, Esq.
         United States Department of Justice
         Office of the U.S. Trustee
         446 Main Street, 14th Floor
         Worcester, MA 01608
         Tel: (508) 793-0555
         Fax: (508) 793-0558
         E-mail: stephen.meunier@usdoj.gov

                   About Quincy Medical Center

Quincy Medical Center is a 196-bed, nonprofit hospital in Quincy,
Massachusetts.

Quincy Medical Center, Inc. together with two affiliates, sought
Chapter 11 protection (Bankr. D. Mass. Lead Case No. 11-16394) on
July 1, 2011.

John T. Morrier, Esq., at Casner & Edwards, LLP, in Boston, serves
as counsel to the Debtors.  Navigant Capital Advisor LLC and
Navigant Consulting Inc. serve as financial advisors.  Epiq
Bankruptcy Solutions LLC is the claims, noticing, and balloting
agent.

Quincy disclosed assets of $73 million and liabilities of
$79.4 million.  Debt includes $56.4 million owing on secured bonds
issued through a state health-care finance agency.  There is
another $2.5 million secured obligation owing to Boston Medical
Center Corp.  Accrued liabilities are $18.2 million.  As reported
in the Troubled Company Reporter on Aug. 9, 2011, Quincy disclosed
$71,214,530 in assets and $81,319,414 in liabilities.

On July 12, 2011, the U.S. Trustee for the District of
Massachusetts appointed the Official Committee of Unsecured
Creditors.


QUINCY MEDICAL: Wants to Amend APA to Reflect Steward's Best Bid
----------------------------------------------------------------
Quincy Medical Center, Inc., et al., ask the U.S. Bankruptcy Court
for the District of Massachusetts to authorize the amendment to
the asset purchase agreement to reflect Steward Medical Holdings
Subsidiary Five, Inc.'s successful bid to acquire the QED Shares.

The Debtors also ask they be allowed to file any amendment with
the Court prior to the sale hearing.

The Debtors note that two competing bids were received for the QED
Shares: (a) the $75,000 offer submitted by BMC Health; and (b) the
offer submitted by Steward, which in accordance with the sale
procedures indicated its intent to acquire the QED Shares,
designated Steward Specialty & Research Corp. as a qualified non-
profit entity qualified to purchase the QED Shares, and allocated
$88,000 of the cash purchase price to the QED Shares.

At the Aug. 15, auction, Steward and SSRC offered to purchase the
QED Shares for $203,000, including (A) the $88,000 allocation
submitted as its competing bid pursuant to the sale procedures,
and (B) an additional $115,000 of cash payable at the closing of
the purchase and sale transaction.

The Company in consultation with U.S. Bank, National Association,
as indenture trustee for the Company's 2008 MHEFA bond issuance,
and the Official Committee of Unsecured Creditors, has designated
Steward and SSRC as the winning bidder to purchase the QED Shares.

                   About Quincy Medical Center

Quincy Medical Center is a 196-bed, nonprofit hospital in Quincy,
Massachusetts.

Quincy Medical Center, Inc. together with two affiliates, sought
Chapter 11 protection (Bankr. D. Mass. Lead Case No. 11-16394) on
July 1, 2011.

John T. Morrier, Esq., at Casner & Edwards, LLP, in Boston, serves
as counsel to the Debtors.  Navigant Capital Advisor LLC and
Navigant Consulting Inc. serve as financial advisors.  Epiq
Bankruptcy Solutions LLC is the claims, noticing, and balloting
agent.

Quincy disclosed assets of $73 million and liabilities of
$79.4 million.  Debt includes $56.4 million owing on secured bonds
issued through a state health-care finance agency.  There is
another $2.5 million secured obligation owing to Boston Medical
Center Corp.  Accrued liabilities are $18.2 million.  As reported
in the Troubled Company Reporter on Aug. 9, 2011, Quincy disclosed
$71,214,530 in assets and $81,319,414 in liabilities.

On July 12, 2011, the U.S. Trustee for the District of
Massachusetts appointed the Official Committee of Unsecured
Creditors.


RETRO TELEVISION: Files for Bankruptcy Protection, Seeks Sale
-------------------------------------------------------------
Dow Jones' DBR Small Cap reports that the operators of a
Connecticut affiliate station of Retro Television Network, whose
nostalgic programming includes "I Spy" and "Starsky & Hutch"
reruns, filed for bankruptcy protection with the goal of selling
its assets.


RICE PETROLEUM: Files for Chapter 7 Bankruptcy Protection
---------------------------------------------------------
The Star Tribune reports that Rice Petroleum Inc., 8700 Blackoak
Lane, Maple Grove, filed for Chapter 7 bankruptcy protection (11-
45515) listing assets of $829,268 and liabilities of $810,736.
Chip Rice is the president of the Company.


RIDGE PARK: Can Use CSMC Cash Collateral Until Sept. 30
-------------------------------------------------------
Ridge Park Office, LLC obtained consent from CSMC 2006-C5 Better
World Limited Partnership to use cash collateral, through and
including September 30, 2011.

The U.S. Bankruptcy Court for the Central District of California
approved the stipulation authorizing Ridge Park to use CSMC's cash
collateral pursuant to a budget.

A copy of the Budget through September 30, 2011 is available for
free at: http://bankrupt.com/misc/RidgePark_CashCollBudget.pdf

The Debtor is authorized to deviate from the figures in the Budget
by up to 15% per month on a line item basis only.

CSMC is granted a replacement lien on (i) all existing and
hereafter acquired property and assets of the Debtor and the
Debtor's estate of every kind and character that are not
encumbered by the pre-petition lien in favor of CSMC senior in
priority to all liens and security interests except for liens of
record prior to the petition date; and (ii) all existing and
hereafter acquired property and assets of the Debtor and the
Debtor's estate of every kind and character that are encumbered by
the prepetition lien in favor of CSMC, to the extent CSMC's
prepetition lien is not automatically continuing and perfected
pursuant to Section 552 of the Bankruptcy Code, senior in priority
to all liens and security interests except for liens of record
prior to the Petition Date.  The Replacement Lien is automatically
perfected by entry of this order and no further agreements or
instruments need be created or filed in order to evidence or
perfect the Replacement Lien.  The Replacement Lien will secure
CSMC to the extent of any diminution in the value of its interests
in property of the Debtor and the Debtor's estate as a result of
the use of cash collateral as authorized.

The Debtor will deposit any and all cash collateral of CSMC in a
segregated debtor-in-possession account and will not commingle any
cash collateral of CSMC with any other funds of the Debtor.
CSMC's lien on funds constituting cash collateral will continue
notwithstanding the deposit of those funds in the debtor-in-
possession account.

                  About Ridge Park Office

Temecula, California-based Ridge Park Office, LLC, filed for
Chapter 11 bankruptcy (Bankr. C.D. Calif. Case No. 11-33683) on
July 22, 2011, represented by Krikor J. Meshefejian, Esq., at
Levene, Neale, Bender, Yoo & Brill LLP.  In its petition, the
Debtor estimated $10 million to $50 million in both assets and
debts.  The petition was signed by Paul Garrett, president of
Redhawk Communities, Inc.

Ridge Park affiliates that have separately filed Chapter 11
petitions are: RCI Regional Grove, LLC (Case No. 11-22055) filed
on April 12, 2011; Diaz Road Properties, LLC (Case No. 11-28473)
and RCI Rio Nedo, LLC (Case No. 11-28470) both filed on June 6,
2011; and Woods Canyon Associates L.P. (Case No. 11-32418) filed
on July 11, 2011.   The Ridge Park case was originally assigned to
Judge Catherine E. Bauer but was later moved to Judge Scott C.
Clarkson, who oversees the affiliates' cases.

Prepetition lender CSMC 2006-C5 Better World Limited Partnership
is represented by:

         H. Mark Mersel, Esq.
         BRYAN CAVE LLP
         3161 Michelson Drive, Suite 1500
         Irvine, California
         E-mail: mark.mersel@bryancave.com


ROKAYOSA INC: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Rokayosa, Inc.
        aka Inc Rokayoza
        P.O. Box 2063
        San Sebastian, PR 00685

Bankruptcy Case No.: 11-07136

Chapter 11 Petition Date: August 25, 2011

Court: United States Bankruptcy Court
       District of Puerto Rico (Old San Juan)

Debtor's Counsel: Antonio I. Hernandez Rodrigues, Esq.
                  HERNANDEZ LAW OFFICE
                  P.O. Box 8509
                  San Juan, PR 00910-0509
                  Tel: (787) 250-0575
                  E-mail: ahernandezlaw@yahoo.com

Scheduled Assets: $4,336,361

Scheduled Debts: $4,738,057

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/prb11-07136.pdf

The petition was signed by Wilson Irizarry Santiago, president.


RW LOUISVILLE: Hearing on Case Dismissal Continued Until Sept. 27
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Kentucky has
continued until Sept. 27, 2011, at 9:00 a.m. (Eastern Time), the
hearing to consider the motion to dismiss the Chapter 11 case of
RW Louisville Hotel Associates LLC.

As reported in the Troubled Company Reporter on May 5, 2011, Wells
Fargo Bank National Association, formerly Wells Fargo Bank
Minnesota National Association, sought for the dismissal of the
Debtor's case because the Debtor lacked proper corporate authority
to commence the proceeding.  Wells Fargo noted that prior to a
transaction that took place in October 2008, the Debtor was
required to obtain the unanimous consent of an independent
director of one of its members before filing a bankruptcy
petition.

The bank told the Court that, in October 2008, the Debtor and its
insiders engaged in a series of transfers that purported to remove
this requirement.  However, those transfers violated the
organizational documents of the Debtor and its owners and are void
ab initio under Delaware law.  Consequently, the October 2008
transfers must be ignored in analyzing whether the Debtor had
proper authority to file the case.  Because it did not obtain the
unanimous consent of an independent director of one of its members
as required, this bankruptcy was unauthorized and must be
dismissed.

                        About RW Louisville

Louisville, Kentucky-based RW Louisville Hotel Associates, LLC,
aka Holiday Inn Hurstbourne, owns a hotel property located at 1325
South Hurstbourne Parkway, Louisville, Kentucky 40222.  It is an
independent franchisee of InterContinental Hotels Group and
operates a 271-room full-service Holiday Inn on the Real Property
and employs approximately 110 employees.

RW Louisville filed for Chapter 11 protection (Bankr. W.D. Ky.
Case No. 10-35356) on Oct. 8, 2010.  Emily Pagorski, Esq., and
Lea Pauley Goff, Esq., J. Kent Durning, Esq., James S. Goldberg,
Esq., Lea Pauley Goff, Esq., and Matthew R. Lindblom, Esq., at
Stoll Keenon Ogden PLLC, in Louisville, Ky., assist RW Louisville
in its restructuring effort.  RW Louisville estimated
its assets and debts at $10 million to $50 million at the Petition
Date.


RW LOUISVILLE: Plan Confirmation Hearing Scheduled for Sept. 20
---------------------------------------------------------------
The Hon. Thomas H. Fulton of the U.S. Bankruptcy Court for the
Western District of Kentucky will convene a hearing on Sept. 27,
2011, at 9:00 a.m. (Eastern Time), to consider the confirmation of
RW Louisville Hotel Associates LLC's Fourth Amended Chapter 11
Plan of Reorganization.  Objections, if any, are due Sept. 20.

At the Aug. 23, confirmation hearing on the Debtor's Third Amended
Plan, the Debtor was directed to file by Aug. 29, an further
amended Plan, in response to the statements of the Debtor's
counsel, Wells Fargo Bank, N.A., and the U.S. Trustee.

In a separate order, the Court also granted the Debtor's motion to
conduct renewed voting on the Debtor's forthcoming modifications
to its plan.

As reported in the Troubled Company Reporter on June 16, 2011, the
Court approved, on May 3, the Disclosure Statement explaining the
Debtor's Third Amended Plan.

The Third Amended Plan provides for the Debtor to emerge from
Chapter 11 as a reorganized debtor continuing to operate a full-
service Holiday Inn hotel, made possible by a restructuring of the
Debtor's secured and unsecured debt.

Under the Plan, the Debtor will pay general unsecured claims 25%
of their value, pro rata, with 36 equal monthly payments beginning
six months after the effective date of the Plan.  Priority general
unsecured claims will be paid in full but without interest with
six equal monthly payments beginning upon the Effective Date.

The Debtor will pay the De Minimis claims 80% of their value,
without interest, within 30 days of the effective date.

A full-text copy of the Third Amended Disclosure Statement is
available for free at http://ResearchArchives.com/t/s?75fd

A full-text copy of the Third Amended Chapter 11 Plan is available
for free at http://ResearchArchives.com/t/s?75fe

                        About RW Louisville

Louisville, Kentucky-based RW Louisville Hotel Associates, LLC,
aka Holiday Inn Hurstbourne, owns a hotel property located at 1325
South Hurstbourne Parkway, Louisville, Kentucky 40222.  It is an
independent franchisee of InterContinental Hotels Group and
operates a 271-room full-service Holiday Inn on the Real Property
and employs approximately 110 employees.

RW Louisville filed for Chapter 11 protection (Bankr. W.D. Ky.
Case No. 10-35356) on Oct. 8, 2010.  Emily Pagorski, Esq., and
Lea Pauley Goff, Esq., J. Kent Durning, Esq., James S. Goldberg,
Esq., Lea Pauley Goff, Esq., and Matthew R. Lindblom, Esq., at
Stoll Keenon Ogden PLLC, in Louisville, Ky., assist RW Louisville
in its restructuring effort.  RW Louisville estimated
its assets and debts at $10 million to $50 million at the Petition
Date.


RWJ CRESTWOOD: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: RWJ Crestwood, LLC
        13459 S. Cicero Avenue
        Crestwood, IL 60445

Bankruptcy Case No.: 11-34834

Affiliates that simultaneously sought Chapter 11 protection:

        Debtor                        Case No.
        ------                        --------
RWJ Management Co., Inc.              11-34845
RWJ Management Co. II, Inc.           11-34915
RWJ Plainfield, LLC                   11-34936
RWJ Downers Grove, LLC                11-34939
RWJ Romeoville, LLC                   11-34943
RWJ Forestview, LLC                   11-34948
RWJ Yorkville LLC                     11-34951
RWJ Wauconda, LLC                     11-34959
RWJ Glen Ellyn, LLC                   11-34961
RWJ Munster, LLC                      11-34968
RWJ Elmhurst, LLC                     11-34971

Chapter 11 Petition Date: August 26, 2011

Court: U.S. Bankruptcy Court
       Northern District of Illinois (Chicago)

Judge: Eugene R. Wedoff

Debtor's Counsel: Mark A. Carter, Esq.
                  ADELMAN & GETTLEMAN, LTD.
                  53 W. Jackson Boulevard
                  Chicago, IL 60604
                  Tel: (312) 435-1050
                  Fax: (312) 435-1050
                  E-mail: mac@ag-ltd.com

                         - and -

                  Nathan Q. Rugg, Esq.
                  ADELMAN & GETTLEMAN, LTD.
                  53 W. Jackson Boulevard, #1050
                  Chicago, IL 60604
                  Tel: (312) 435-1050
                  E-mail: nqr@ag-ltd.com

Lead Debtor's
Estimated Assets: $1,000,001 to $10,000,000

Lead Debtor's
Estimated Debts: $10,000,001 to $50,000,000

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

The petition was signed by Robert Juckniess, manager.


RYLAND GROUP: To Wind Down Jacksonville and Dallas Operations
-------------------------------------------------------------
The Ryland Group, Inc., announced that it is winding down its
homebuilding operations in its Jacksonville and Dallas divisions.
The national homebuilder intends to complete all the homes
currently under contract with customers and market its remaining
available land in these divisions as part of a strategic plan to
efficiently manage its invested capital.

The company will service all outstanding warranties on the homes
it constructs in Dallas and Jacksonville, and customers can still
call and e-mail their Ryland customer service contacts.  They can
also request service by visiting the "Warranty" page on the
company's Web site, www.ryland.com.

                         About Ryland Group

Headquartered in Calabasas, California, The Ryland Group, Inc.
(NYSE: RYL) -- http://www.ryland.com/-- is one of the nation's
largest homebuilders and a leading mortgage-finance company.
Since its founding in 1967, Ryland has built more than 285,000
homes and financed more than 240,000 mortgages.  The Company
currently operates in 15 states and 19 homebuilding divisions
across the country and is listed on the New York Stock Exchange
under the symbol "RYL."

The Company's balance sheet at June 30, 2011, showed $1.57 billion
in total assets, $1.05 billion in total liabilities and $513.79
million in total equity.

                           *     *     *

As reported by the Troubled Company Reporter on June 21, 2010,
Fitch Ratings has affirmed Ryland Group, Inc.'s ratings -- Issuer
Default Rating at 'BB'; and Senior unsecured debt at 'BB'.  The
Rating Outlook has been revised to Stable from Negative.

Ryland Group carries Moody's "Ba3" corporate family rating, "Ba3"
probability of default rating, "Ba3" senior unsecured notes
rating, and "SGL-2" speculative grade liquidity rating.  Ryland
Group carries Standard & Poor's Ratings Services' 'BB-' corporate
credit and senior unsecured note ratings.


SEARCHMEDIA HOLDINGS: Appoints J. Lo. as Chief Operating Officer
----------------------------------------------------------------
SearchMedia Holdings Limited has appointed Mr. Johnny Lo
as the Company's Chief Operating Officer and CEO of China
Operations, effective Sept. 1, 2011.

Mr. Lo brings to SearchMedia over two decades of outdoor
advertising experience in China and Hong Kong.  He joins
SearchMedia from Sky Media, an integrated outdoor advertising
company he founded in 2004, whose client base includes
well-recognized brands such as McDonald's, the NBA, and Johnnie
Walker.

Prior to founding Sky Media, Mr. Lo was the Founding Managing
Director of Portland China, a full service outdoor advertising
company in China owned by WPP/MindShare; General Manager of
Greater China for Leo Burnett Ltd; and held various roles at the
Hong Kong Mass Transit Railway Corporation.  At Leo Burnett, Mr.
Lo served high profile multinational corporate clients including
Procter &Gamble, McDonald's, Smartone, Standard Charter Bank, Coca
Cola and Motorola and was instrumental in launching Leo Burnett's
new media company Starcom in Hong Kong and China.  At MTRC, Mr. Lo
was responsible for annual revenue of over HK$500 million across
various business areas including poster advertising, Kiosk rental
and all other revenue-generating concessions.

Mr. Lo has also received various awards in recognition for his
accomplishments in the advertising industry, including "The Most
Important Leader Contributing to the Growth of China's Outdoor
Market" at the Fifth China Outdoor Advertising Conference in 2008
and "Outdoor Person of the Year" at the Inaugural China
Outdoor Conference in 2005.  Mr. Lo received an MBA from the
University of Hong Kong and a Bachelor of Science degree in
Mathematics from the Chinese University of Hong Kong.

Mr. Paul Conway, CEO of SearchMedia commented, "We are delighted
to welcome a veteran of China's outdoor advertising industry to
our executive management team.  We believe Mr. Lo's expertise in
the outdoor advertising business in China as well as his
experience in serving leading global and national brands
will help us better penetrate China's compelling advertising
market and grow our concession base.  Furthermore, his managerial
and business development experience will prove invaluable to
SearchMedia as we continue to develop towards our growth
objectives and execute new strategic initiatives."

                         About SearchMedia

SearchMedia is a leading nationwide multi-platform media company
and one of the largest operators of integrated outdoor billboard
and in-elevator advertising networks in China.  SearchMedia
operates a network of high-impact billboards and one of China's
largest networks of in-elevator advertisement panels in 50 cities
throughout China.  Additionally, SearchMedia operates a network of
large-format light boxes in concourses of eleven major subway
lines in Shanghai.  SearchMedia's core outdoor billboard and in-
elevator platforms are complemented by its subway advertising
platform, which together enable it to provide a multi-platform,
"one-stop shop" services for its local, national and international
advertising clients.

The Company's balance sheet at March 31, 2010, showed
$93.30 million in total assets, $51.32 million in total
liabilities, and stockholders' equity of $41.98 million.

The Company reported a net loss of $46.6 million on $49.0 million
of revenues for 2010, compared with a net loss of $22.6 million on
$37.7 million of revenues for 2009.


SECUREALERT INC: Inks $8MM Loan & Security Pact with Sapinda UK
---------------------------------------------------------------
SecureAlert, Inc., and its wholly-owned subsidiaries, SecureAlert
Monitoring, Inc., and Midwest Monitoring Surveillance, Inc.,
entered into a loan and security agreement with certain lenders
and Sapinda UK Limited, as lender, administrative agent and
collateral agent.

The Credit Agreement provides for an asset-based revolving credit
facility with an aggregate lender commitment of up to $8 million
at any time outstanding, subject to borrowing base availability.

Borrowings under the Credit Agreement bear interest at a rate
equal to 15% per annum.  The credit facility will mature on
Aug. 31, 2014.

In connection with the credit facility the Company also entered
into an advisory services agreement with Sapinda UK Limited to
assist the Company in raising up to $17 million, including the
amounts borrowed under the credit facility.  The first draw
against the line of credit is to be $4 million, to be made
available to the Company on or before Sept. 3, 2011.  Borrowings
under the Loan and Security Agreement are secured by the assets of
the Company.

A full-text copy of the Loan and Security Agreement is available
for free at http://is.gd/SHxSed

                       About SecureAlert Inc.

Sandy, Utah-based SecureAlert, Inc. (OTC BB: SCRA)
-- http://www.securealert.com/-- is an international provider of
electronic monitoring systems, case management and services widely
utilized by more than 650 law enforcement agencies worldwide.

The Company's balance sheet at June 30, 2011, showed $15.18
million in total assets, $10.48 million in total liabilities, and
$4.70 million in total equity.

The Company has incurred recurring net losses and negative cash
flows from operating activities.  These factors raise substantial
doubt about the Company's ability to continue as a going concern.

Management's plans with respect to this uncertainty include
expanding the market for its ReliAlert portfolio of products and
services, raising additional capital from the issuance of
preferred stock, entering into debt financing agreements.  There
can be no assurance that revenues will increase rapidly enough to
offset operating losses and repay debts.  If the Company is unable
to increase cash flows from operating activities or obtain
additional financing, it will be unable to continue the
development of its products and may have to cease operations


SHASTA LAKE: Amends Schedules of Assets of Assets and Liabilities
-----------------------------------------------------------------
Shasta Lake Resorts, LP filed with the U.S. Bankruptcy Court for
the Eastern District of California amended schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                  $502,814
  B. Personal Property           $11,455,690
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                $4,498,233
  E. Creditors Holding
     Unsecured Priority
     Claims                                          $114,482
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                        $2,196,804
                                 -----------      -----------
        TOTAL                    $11,958,504       $6,809,519

A full-text copy of the Amended Schedules is available for free at
http://bankrupt.com/misc/SHASTALAKE_amendedsal.pdf

As reported in the Troubled Company Reporter on Aug. 1, 2011, in
the original schedules, the Debtor disclosed $11,208,626 in
personal property, and $2,183,568 in unsecured non-priority
claims.

                        About Shasta Lake

Lodi, California-based Shasta Lake Resorts LP, also known as
houseboats.com, is a leading supplier of luxury houseboat rentals
in Northern California, operating a fleet of approximately 65
houseboats primarily out of its Jones Valley Resort on Shasta Lake
and its New Melones Lake Marina.  SLR offers a full service dock
at both Jones Valley Resort and New Melones Lake Marina, with
overnight and year round moorage and small boat and accessory
rentals.  SLR also operates floating stores, which sell everything
its customers may want to complete their houseboating experience,
including grocery items, bait and tackle, water sports and marine
items, unique gifts and apparel.  SLR offers slip rentals at
Sugarloaf Resort on Shasta Lake.

SLR disclosed assets between $10,000,001 to $50,000,000, and debts
between $1,000,001 to $10,000,000.

SLR filed voluntary petition for reorganization under Chapter 11
of the U.S. Bankruptcy Code (Bankr. E.D. Calif. Case No. 11-37221)
on July 13, 2011.  Judge Christopher M. Klein is assigned to the
case.

Jamie P. Dreher, Esq., at Downey Brand LLP, in Sacramento,
California, represents SLR.

The Company listed $11,711,440 in assets and $6,796,283 in debts.


SHENGDATECH INC: Wants to Hire Alvarez & Marsal as CRO
------------------------------------------------------
Shengdatech Inc. asks the U.S. Bankruptcy Court for the District
of Nevada for permission to employ Alvarez & Marsal North America
LLC to provide a chief restructuring officer.

The firm will, among other things:

   a) assist in the prosecution of the Debtor's Chapter 11 filing;

   b) assist with cash controls and development and management
      of a 13-week cash flow forecast; and

   c) assist with the management and oversight of ongoing
      accounting investigations.

The firm's professionals will be paid at these rates:

      Managing Director        $650-850
      Director                 $450-650
      Associate/Consultant     $350-450
      Analyst                  $250-350

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

                         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: Files List of 23 Largest Unsecured Creditors
-------------------------------------------------------------
Shengdatech, Inc., has filed with the U.S. Bankruptcy Court for
the District of Nevada a list of its 23 largest unsecured
creditors.

Debtor's List of 23 Largest Unsecured Creditors:

  Entity                        Nature of Claim     Claim Amount
  ------                        ---------------     ------------
The Bank of New York
Mellon, as indenture
trustee for 6.5% Notes
due December 2015                   Bond Debt      $130,000,000.00

The Bank of New York,
as indenture trustee for
6.0% Notes due June 2018            Bond Debt       $36,345,340.00

KPMG LLP                     Fees for Professional
                             Services Rendered         $632,702.00

Cadwalader, Wickersham       Fees for Professional
& Taft LLP                   Services Rendered         $516,363.09

Donhoe Advisory              Fees for Professional
Associates, LLC              Services Rendered           $4,900.00

Zazove Associates, LLC              Bond Debt              Unknown

CQS (UK) LLP                        Bond Debt              Unknown

Radcliffe Capital Management        Bond Debt              Unknown

Citadel Group                       Bond Debt              Unknown

CAN Partners                        Bond Debt              Unknown

Lazard Asset
Management LLC                      Bond Debt              Unknown

Deutsche Bank Securities            Bond Debt              Unknown

Advent Capital
Management, LLC                     Bond Debt              Unknown

CNH Partners                        Bond Debt              Unknown

James Thomas Turner          Shareholder derivative
                             litigation                    Unknown

Marlon Fund SICA V PLC       Shareholder derivative
                             litigation                    Unknown

Erik S. Mathes               Shareholder derivative
                             litigation                    Unknown

Robert Corwin                Shareholder derivative
                             litigation                    Unknown

Donald D. Yaw                Shareholder derivative
                             litigation                    Unknown

Tom McDermott                Shareholder derivative
                             litigation                    Unknown


Mathew Schweiger             Shareholder derivative
                             litigation                    Unknown


Michael Komsky               Shareholder derivative
                             litigation                    Unknown


Robert Johnson               Shareholder derivative
                             litigation                    Unknown

                          About Shengda Tech

Reno, Nevada-based Shengdatech, Inc., filed for Chapter 11
bankruptcy protection (Bankr. D. Nev. Case No. 11-52649) on
Aug. 19, 2011.  Bob L. Olson, Esq., Miriam G. Bahcall, Esq., Nancy
A. Peterman, Esq., and Paul Ferak, Esq., serve as the Debtor's
bankruptcy counsel.  In its petition, the Debtor estimated assets
and debts of $100 million to $500 million.


SOUTHWESTT GEORGIA: Files Plan, Unsecured Claims to Recover 3%
--------------------------------------------------------------
Southwest Georgia Ethanol, LLC, filed with the U.S. Bankruptcy
Court for the Middle District of Georgia, Albany Division, a
Chapter 11 plan of reorganization and an accompanying disclosure
statement on August 26, 2011.

The Plan proposes a 3% recovery to holders of general unsecured
claims, estimated at $2,100,000.  Holders of prepetition senior
secured lender claims, estimated at $107,644,144, will receive a
97.5% recovery of their claims.  Each holder of an allowed
prepetition senior secured lender claim will receive their pro
rata share of new preferred units and new Class B units.

Holders of other secured claims, estimated at $2,744,833, will
recover 100% of their claims.  There are several holders of Other
Secured Claims for equipment used at the Debtor's facility.
Mitchell County has filed a secured tax claim, and has submitted
invoices to the Debtor for 2011 ad valorem property taxes owing.

Administrative Expense Claims, DIP Financing Claims, Professional
Fee Claims, and Priority Tax Claims will be paid in full in cash.

The Reorganized Debtor will convert to a Delaware limited
liability company, governed by a New LLC Agreement, which will
authorize the issuance of New Membership Interests and prohibit
the issuance of non-voting equity interests.

The New Membership Interests issued by the Reorganized Debtor will
include (i) New Class A Units (if Classes 2, 3 and 5 each vote as
a Class to accept the Plan), (ii) New Class B Units, and (iii) New
Preferred Units, which will rank senior to all other classes of
membership interests of the Reorganized Debtor.

Except for Liquidity Event Distributions, holders of the New Class
A Units will be entitled to receive, in the aggregate, 75% of all
distributions from the Reorganized Debtor after the time as
holders of the New Preferred Units have received their full
Preferred Redemption Value, which is equal to the aggregate
initial capital contribution of all holders and which will be
equal to $105,000,000.

Except for Liquidity Event Distributions, holders of the New Class
B Units will be entitled to receive, in the aggregate, 25% of all
distributions from the Reorganized Debtor after the time as
holders of the New Preferred Units have received their full
Preferred Redemption Value; provided, however, if the Class A
Units are not issued pursuant to the Plan, then the New Class B
Units will be entitled to 100% of all distributions from
Reorganized Debtor.

The Reorganized Debtor will enter into an exit financing, which
will consist of a senior secured loan facility, in an aggregate
principal amount not to exceed $20 million.

A full-text copy of the Disclosure Statement is available for free
at http://ResearchArchives.com/t/s?76bf

                      About Southwest Georgia

Southwest Georgia Ethanol LLC, a unit of First United Ethanol Co.,
sought bankruptcy protection (Bankr. M.D. Ga. 11-10145) in Albany,
Georgia, on Feb. 1, 2011.

The Debtor owns and operates an ethanol production facility
located on 267 acres in Mitchell County, Georgia, producing
100 million gallons of ethanol annually.  Ethanol production
operations commenced in October 2008.  Revenue was $168.9 million
for fiscal year ended Sept. 30, 2010.  The Debtor said
profitability and liquidity have been materially reduced by
unfavorable fluctuations in commodity prices for ethanol and corn.

John Michael Levengood, Esq., at McKenna Long & Aldridge LLP, in
Atlanta, Georgia, serves as counsel to the Debtor.  Morgan Keegan
& Company, Inc., is the investment banker and financial advisor.

The Debtor's balance sheet showed $164.7 million in assets and
$134.1 million in debt as of Dec. 31, 2010.

Since 2008, at least 11 ethanol-related companies have sought
court protection, including VeraSun Energy Corp., once the second-
largest U.S. ethanol maker; units of Pacific Ethanol Inc.; and
White Energy Holding Co.


SPANISH TRAIL: Hopes to Generate Cash to Pay Operating Expenses
---------------------------------------------------------------
Vegas Inc. reports that Spanish Trail Country Club in Las Vegas
said it anticipates generating enough cash to pay operating
expenses while its bankruptcy case proceeds.

According to the report, a hearing is set for Monday in U.S.
Bankruptcy Court for Nevada on the club's routine "first day"
motions seeking approval to continue paying its 53 employees,
utility bills and other operating expenses.

In a court declaration, Farhang Rohani, the club's general manager
and chief operating officer, said the nonprofit company has some
$124,000 cash on hand -- which is now subject to control of the
court.

The report says use of that money, as well as revenue received
after the bankruptcy, is crucial to Spanish Trail achieving an
"effective and orderly reorganization," of its business.

The report notes the club hasn't yet disclosed how it intends to
reorganize and Hermitage Management hasn't indicated if it will
cooperate with a reorganization or if it will ask the bankruptcy
court for permission to proceed with the foreclosure.

In his declaration, Mr. Rohani explained why the club is in
default on a $15 million loan the club took out in April 2007 to
improve the golf course and clubhouse.  Records show the loan was
at 6.52 percent interest and required monthly payments of about
$136,000.


STONE SURFACES: Cash Collateral Use Extended Through Oct. 31
------------------------------------------------------------
Bankruptcy Judge Thomas J. Catliota signed off on a stipulation
among Wells Fargo Bank, N.A., successor by merger to Wachovia
Bank, N.A.; SunTrust Bank, and Stone Surfaces MD, Inc., extending
the Debtor's authority to use the lenders' cash collateral through
Oct. 31, 2011.  The Court originally approved a Final Agreement
and Consent Order Authorizing Debtor to Use Cash Collateral and
Granting Adequate Protection on Sept. 16, 2010.  The current
stipulation extends the agreement for a fifth time.  As further
adequate protection for Wachovia and SunTrust's interests as of
the Petition Date in the Prepetition Collateral, the Debtor was to
pay to each Wachovia and SunTrust $3,000 on Aug. 23, 2011, and
$1,500 on Oct. 1, 2011.  The Adequate Protection Payments will be
applied to reduce the outstanding debt owed by the Debtor.  A copy
of the stipulation dated Aug. 23 is available at
http://is.gd/36Yn88from Leagle.com.

Stone Surfaces MD, Inc., filed for Chapter 11 bankruptcy (Bankr.
D. Md. Case No. 10-10492) on Jan. 8, 2010, listing under
$10 million in assets.  Christopher L. Hamlin, Esq. --
chamlin@mhlawyers.com -- at McNamee, Hosea, Jernigan, Kim, Greenan
& Lynch, P.A., in Greenbelt, Maryland, serves as the Debtor's
counsel.

Attorney for lender Wells Fargo Bank, N.A., successor by merger to
Wachovia Bank, N.A., is:

          Dale K. Cathell, Esq.
          DLA PIPER LLP (US)
          Baltimore, MD
          Telephone: (410) 580-4122
          Facsimile: (410) 580-3122
          E-mail: Dale.cathell@dlapiper.com

Attorney for lender SunTrust Bank is:

          Karen A. Doner, Esq.
          RUTH, DONER, JACKSON, PLC
          McLean, Virginia
          Telephone: (703) 485-3537
          Facsimile: (703) 485-3525
          E-mail: kdoner@rothdonerjackson.com


SUNNYVALE BUSINESS: Sec. 341 Creditors' Meeting Set for Sept. 13
----------------------------------------------------------------
The U.S. Trustee for the District of Arizona will convene a
Meeting of Creditors pursuant to 11 U.S.C. Sec. 341(a) in the
bankruptcy case of Sunnyvale Business Square LLC on Sept. 13,
2011, at 12:00 p.m. at US Trustee Meeting Room, 230 N. First
Avenue, Suite 102, in Phoenix.

The debtor's representative must be present at the meeting to be
questioned under oath by the trustee and by creditors.  Creditors
are welcome to attend, but are not required to do so. The meeting
may be continued and concluded at a later date without further
notice. The court, after notice and a hearing, may order that the
United States trustee not convene the meeting if the debtor has
filed a plan for which the debtor solicited acceptances before
filing the case.

                  About Sunnyvale Business Square

Las Vegas, Nevada-based Sunnyvale Business Square LLC, doing
business as Lakeview Village at Val Vista Lakes, filed for Chapter
11 bankruptcy (Bankr. D. Ariz. Case No. 11-23121) on Aug. 11,
2011.  Chief Judge James M. Marlar presides over the case.
Altfeld & Battaile P.C. serves as the Debtor's counsel.  First
Dartmouth Advisors serves as restructuring advisor.  The Debtor
estimated $10 million to $50 million in assets and debts.  The
petition was signed by Richard J. Orosel, manager of Orosel
Enterprises LLC, manager.


SUNNYVALE BUSINESS: Taps Altfeld & Battaile as Counsel
------------------------------------------------------
Sunnyvale Business Square LLC asks the Bankruptcy Court to approve
its employment of John F. Battaile, Esq., and Altfeld & Battaile
P.C., as counsel.

Altfeld & Battaile P.C. may be reached at:

          John F. Battaile, Esq.
          ALTFELD & BATTAILE P.C.
          250 N. Meyer Avenue
          Tucson, Arizona 85701
          Tel: (520) 622-7733
          Fax: (520) 622-7967
          E-mail: JFBattaile@abazlaw.com

                  About Sunnyvale Business Square

Las Vegas, Nevada-based Sunnyvale Business Square LLC, doing
business as Lakeview Village at Val Vista Lakes, filed for Chapter
11 bankruptcy (Bankr. D. Ariz. Case No. 11-23121) on Aug. 11,
2011.  Chief Judge James M. Marlar presides over the case.  First
Dartmouth Advisors serves as restructuring advisor.  The Debtor
estimated $10 million to $50 million in assets and debts.  The
petition was signed by Richard J. Orosel, manager of Orosel
Enterprises LLC, manager.


SUNNYVALE BUSINESS: Hires First Dartmouth as Restructuring Advisor
------------------------------------------------------------------
Sunnyvale Business Square, LLC, seeks Court permission to employ
First Dartmouth Advisors LLC as the Debtor's Restructuring
Advisor.

Sunnyvale said it is essential for the Debtor to engage the
services of a restructuring advisor with experience and expertise
in commercial mortgage-backed securities financing to advise
and assist the Debtor in negotiating with the project lender and
developing a strategy for the workout of the project loan, which
might include a purchase of the loan, a payoff, or the purchase of
the Debtor's real property as real estate owned.  Any or all of
those options may be utilized by the Debtor in developing,
negotiating, and presenting the Debtor's reorganization plan to
the Court pursuant to the Bankruptcy Code, or otherwise resolving
this proceeding.

First Dartmouth began providing services to the Debtor pre-
bankruptcy.  The Debtor paid First Dartmouth the sum of $10,000 as
a retainer.  The Debtor anticipates that First Dartmouth's
services may require additional work and funding and, accordingly,
has deposited an additional $10,000 in the trust account of its
counsel, Altfeld & Battaile, P.C.

First Dartmouth attests that it does not hold or represent any
material adverse interest to the Debtor, the U.S. Trustee or the
estate with respect to the professional services which are to be
rendered to and on behalf of the Debtor, and is therefore
disinterested within the meaning of 11 U.S.C. Sec. 101(14).

                  About Sunnyvale Business Square

Las Vegas, Nevada-based Sunnyvale Business Square LLC, doing
business as Lakeview Village at Val Vista Lakes, filed for Chapter
11 bankruptcy (Bankr. D. Ariz. Case No. 11-23121) on Aug. 11,
2011.  Chief Judge James M. Marlar presides over the case.
Altfeld & Battaile P.C. serves as the Debtor's counsel.  First
Dartmouth Advisors, the restructuring advisor, may be reached at:

          FIRST DARTMOUTH ADVISORS LLC
          P.O. Box 5087
          Greenwich, CT 06831
          Tel: (914) 576-4019
          E-mail: info@first-dartmouth.com

The Debtor estimated $10 million to $50 million in assets and
debts.  The petition was signed by Richard J. Orosel, manager of
Orosel Enterprises LLC, manager.


SUPERIOR PROPERTY: Case Summary & 12 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Superior Property of 10621 Sepulveda, LLC
        10621 Sepulveda Boulevard
        Mission Hills, CA 91345

Bankruptcy Case No.: 11-20305

Chapter 11 Petition Date: August 29, 2011

Court: U.S. Bankruptcy Court
       Central District of California (San Fernando Valley)

Judge: Alan M. Ahart

Debtor's Counsel: Michael S. Kogan, Esq.
                  ERVIN COHEN & JESSUP LLP
                  9401 Wilshire Boulevard, 9th Floor
                  Beverly Hills, CA 90212-2974
                  Fax: (310) 859-2325
                  E-mail: mkogan@ecjlaw.com

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

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

The petition was signed by Michael A. Kahn, managing member.

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Crown Real Estate Services            --                        --

Debtor's List of 12 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
City of Los Angeles                Tax                    $326,749
Transient Occupancy Tax
P.O. Box 53233
Los Angeles, CA 90053

Idearc Media                       Trade                   $14,726
P.O. Box 619810
DFW Airport, TX 75261

Allnet Security                    Trade                   $11,686
9836 White Oak Avenue 209
Northridge, CA 91325

HD Supply                          Trade                    $8,657

Los Angeles County Tax             Sales Tax                $7,198

Catalyst Communications            Trade                    $5,000

Staples                            Trade                    $1,619

Six Flags California               Trade                      $957

American Hotel Register            Trade                      $941

KA Service Plus                    Trade                      $600

Hodges and Irvine                  Trade                      $200

Secion                             Trade                      $132


TETON AIR: Files List of 20 Largest Unsecured Creditors
-------------------------------------------------------
Teton Air Ranch LLC has filed with the U.S. Bankruptcy Court for
the District of Idaho a list of its 20 largest unsecured
creditors.

Debtor's List of 20 Largest Unsecured Creditors:

  Entity                        Nature of Claim     Claim Amount
  ------                        ---------------     ------------
Cypress Capital XII LLC
1220 Market Building
Suite 704                                          $15,195,420.36
Wilmington DE 19801              Bank Loan          $5,000,000.00

Jamarcus Russell
13111 Skyline Blvd
Oakland CA 94619                 Private Loan       $1,800,000.00

Razorback LLC
688 S Bellin Road                Construction
Idaho Falls ID 83402             Contract           $1,247,000.00

Golden Empire                    Construction
Manufacturing Inc                Contract           $1,146,425.25

Teton West of Idaho LLC          Construction
                                 Contract           $1,013,757.47

Calvin Pace                      Private Loan       $1,000,000.00

SilverTree Builders Inc          Construction
                                 Contract             $864,420.22

Lott Contractors Inc             Construction
                                 Contract             $730,610.32
Zollinger Construction Inc       Construction
                                 Contract             $442,306.13

Project Management Group         Construction
                                 Contract             $437,959.37

Jarvis Moss                      Private Loan         $250,000.00

Gaber Agency Inc                 Private Loan         $150,000.00

Burns Concrete Inc               Construction
                                 Contract             $149,916.69

Teton County
Assessor                         Tax Liability        $120,236.00

Williams Engineering Inc         Construction
                                 Contract              $75,766.74

SID Crookston                    Construction
Construction LLC                 Contract              $48,310.00

Rexburg Plumbing                 Construction
and Heating                      Contract              $34,740.52

Strata Inc                       Construction
                                 Contract              $20,524.50

Sprinter Heating and             Construction
Hydronics LLC                    Contract              $20,489.00

United Pipe and                  Construction
Supply Co Inc                    Contract               $8,942.16

                           About Teton Air

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.

According to its schedules, the Debtor disclosed $13,799,537 in
total assets and $24,719,592 in total debts.


THAMES PRINTING: Plans to Respond Involuntary Petition by Sept. 21
------------------------------------------------------------------
James Mosher at the Bulletin reports that Thames Printing Co. is
weighing bankruptcy options in the wake of three creditors filing
a liquidation petition to recover about $619,000 in debts.

According to the report, Norwich-based lawyer Mark Block, who
represents Thames owner Neil Blinderman, said he plans to answer
the petition by the legal deadline of Sept. 21.  Three companies
that supplied paper to Thames filed a petition Monday in U.S.
Bankruptcy Court in Hartford.  Besides the sale of assets, the
companies want a court-appointed trustee to investigate Thames.

The report notes Lindenmeyr Munroe, of Moonachie, N.J., is owed
the most, with $551,652 outstanding, according to court records.
Cheshire-based Ariva Distribution Inc. is owed $1,674, the
petition states.  The three want a liquidation under Chapter 7
of the U.S. Bankruptcy Code.

The report says the company had about 60 employees who are no
longer working at the plant.  That fact has not been reported to
the state Department of Labor.


TONYA LIGGION: Court Tosses Suit v. Branch Banking and Trust
------------------------------------------------------------
In an Aug. 24, 2011 Opinion and Order, District Judge William S.
Duffey, Jr., dismissed a fourth amended complaint filed against
Branch Banking and Trust Company by Tonya G. Liggion, thereby
allowing the bank to foreclose on Ms. Liggion's property.  Ms.
Liggion obtained two residential mortgage loans from the Defendant
totaling $1,229,000.  The Loans were obtained to purchase her
primary residence at 4558 Revenue Trail, Ellenwood, GA 30294.  The
case is TONYA G. LIGGION, v. BRANCH BANKING AND TRUST, No. 1:11-
cv-01133 (N.D. Ga.).  A copy of the court's decision is available
at http://is.gd/bLzIAafom Leagle.com.

                      About Tonya G. Liggion

Tonya Grissam Liggion in Ellenwood, Georgia, filed for Chapter 11
bankruptcy (Bankr. N.D. Ga. Case No. 10-82566) on Aug. 2, 2010,
the day before a foreclosure sale on her property.  Dorna Jenkins
Taylor, Esq. -- dorna.taylor@taylorattorneys.com -- Taylor &
Associates, LLC, serves as bankruptcy counsel.  Ms. Liggion
scheduled assets of $1,035,425 and debts of $1,424,087.

An affiliate, Genesys Pediatrics LLC, filed for Chapter 11 (Bankr.
N.D. Ga. Case No. 10-74645) on May 17, 2010.


UNITED COMMUNICATIONS: Posts $451,000 Net Loss in 2nd Quarter
-------------------------------------------------------------
United Communications Partners Inc. (formerly known as Bark Group
Inc.) filed its quarterly report on Form 10-Q, reporting a net
loss of $451,000 on $4.0 million of revenues for the three months
ended June 30, 2011, compared with a net loss of $2.3 million on
$939,000 of revenues for the same period last year.

The Company reported a net loss of $845,000 on $7.8 million of
revenues for the six months ended June 30, 2011, compared with a
net loss of $2.6 million on $939,000 of revenues for the same
period of 2010.

The Company's balance sheet at June 30, 2011, showed $11.1 million
in total assets, $9.4 million in total liabilities, and
stockholders' equity of $1.7 million.

Marcum LLP, in New York, expressed substantial doubt about United
Communications Partners' ability to continue as a going concern,
following the Company's 2010 results.  The independent auditors
noted that at Dec. 31, 2010, the Company has not achieved a
sufficient level of revenues to support its business and has
suffered recurring losses from operations.

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

Based in Stockholm, Sweden, United Communications Partners Inc.
-- http://www.ucpworld.com/-- is a commercial communication
services company based in Sweden that provides integrated media,
advertising and marketing consulting services to its clients.  The
Company's clients are comprised primarily of European businesses
that range in size from small local businesses to larger trans-
national and multi-national corporations.


UNITED GILSONITE: Can Hire Value Management as Valuation Advisor
----------------------------------------------------------------
United Gilsonite Laboratories sought and obtained authorization
from the U.S. Bankruptcy Court to employ Value Management, Inc.,
as business valuation advisor effective as of July 1, 2011.

Value Management will render valuation consulting services
including:

    a) an opinion as to the current fair market value of the
       Debtor in its entirety;

    b) expert testimony on valuation matters, if requested; and

    c) such other related services as management or counsel to the
       Debtor may request.

Value Management's current hourly rates for its professionals and
staff are:

     Managing Director      $425
     Director               $300 to $375
     Financial Analyst      $200 to $250
     Research Analyst       $110

Edward A. Wilusz, a managing director of Value Management, assured
the Court that his firm is a "disinterested parties" within the
meaning of Section 101(14) and 328(c) of the Bankruptcy Code and
holds no interest adverse to the Committee or the Debtor's
creditors on the matters for which they are to be employed.

Mr. Wilusz, the primary professional in charge of the engagement,
can be reached at:

     Edward A. Wilusz, CFA, ASA, MBA
     Value Management Inc.
     2370 York Road, E2
     Jamison, Pennsylvania 18929
     Phone: (215) 343-0500
     Fax: (215) 343-0501
     E-mail: eaw@valuemanagementinc.com

                       About United Gilsonite

Scranton, Pennsylvania-based United Gilsonite Laboratories, a
Pennsylvania Corporation, is a small family-owned corporation
engaged in the manufacturing of wood and masonry finishing
products and paint sundries.  It filed for Chapter 11 bankruptcy
protection on March 23, 2011 (Bankr. M.D. Pa. Case No. 11-02032).
Mark B. Conlan, Esq., at Gibbons P.C., serves as the Debtor's
bankruptcy counsel.  Joseph M. Alu & Associates P.C. serves as
accountants.  K&L Gates LLP serves as special insurance counsel.
Lenahan & Dempsey, P.C., Wilbraham, Lawler & Buba, and Steptoe &
Johnson LLP serve as professionals in the ordinary course of the
Debtor's business.  Garden City Group is the claims and notice
agent.  The Company disclosed $21,084,962 in assets and $3,008,688
in liabilities as of the Chapter 11 filing.

Roberta A. DeAngelis, United States Trustee for Region 2,
appointed five creditors to serve on an Official Committee of
Unsecured Creditors of United Gilsonite Laboratories.  Montgomery,
McCracken, Walker & Rhoads, LLP, represents the Committee.


UNITED GILSONITE: Wiss & Company Hired as Financial Advisor
-----------------------------------------------------------
Judge Robert N. Opel, II, has authorized United Gilsonite
Laboratories to employ Wiss & Company, LLP, as financial advisor
effective as of July 1, 2011.

The Debtor contemplates that Wiss will render financial consulting
services as needed throughout the course of this case, including:

     a) analysis and advice regarding financial, valuation,
        bankruptcy and related issues that may arise in connection
        with the development and negotiation of a plan of
        reorganization and otherwise during the course of the
        Chapter 11 Case, which will not duplicate those of the
        Debtor's accountant or any other professional;

     b) advice in connection with and in preparation for meetings
        with the Official Committee, Future Claimants
        Representative and other constituencies and their
        respective professionals;

     c) expert testimony on financial matters, if requested; and

     d) such other services as management or counsel to the Debtor
        may request.

Wiss' professionals and paraprofessionals bill their time in
increments of one-tenth of an hour and the range of current hourly
rates is as follows:

     Partners                            $375
     Managers & Directors                $225 to $275
     Seniors & Supervisors               $175 to $225
     Accountants & Paraprofessionals     $40 to $160

Anthony R. Calascibetta, a partner of Wiss & Company, assured the
Court that his firm is a "disinterested party" within the meaning
of Section 101(14) and 328(c) of the Bankruptcy Code and holds no
interest adverse to the Committee or the Debtor's creditors on the
matters for which they are to be employed.

Mr. Calascibetta, the primary professional in charge of the
engagement, can be reached at:

     Anthony R. Calascibetta
     WISS & COMPANY, LLP
     354 Eisenhower Parkway
     Livingston, New Jersey 07039
     Tel: 973-994-9400
     Fax: 973-992-6760

                       About United Gilsonite

Scranton, Pennsylvania-based United Gilsonite Laboratories, a
Pennsylvania Corporation, is a small family-owned corporation
engaged in the manufacturing of wood and masonry finishing
products and paint sundries.  It filed for Chapter 11 bankruptcy
protection on March 23, 2011 (Bankr. M.D. Pa. Case No. 11-02032).
Mark B. Conlan, Esq., at Gibbons P.C., serves as the Debtor's
bankruptcy counsel.  Joseph M. Alu & Associates P.C. serves as
accountants.  K&L Gates LLP serves as special insurance counsel.
Lenahan & Dempsey, P.C., Wilbraham, Lawler & Buba, and Steptoe &
Johnson LLP serve as professionals in the ordinary course of the
Debtor's business.  Garden City Group is the claims and notice
agent.  The Company disclosed $21,084,962 in assets and $3,008,688
in liabilities as of the Chapter 11 filing.

Roberta A. DeAngelis, United States Trustee for Region 2,
appointed five creditors to serve on an Official Committee of
Unsecured Creditors of United Gilsonite Laboratories.  Montgomery,
McCracken, Walker & Rhoads, LLP, represents the Committee.


UNIVERSAL BIOENERGY: Incurs $594,000 Net Loss in March 31 Qtr.
--------------------------------------------------------------
Universal Bioenergy, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q reporting a
net loss of $594,087 on $22.24 million of revenue for the three
months ended March 31, 2011, compared with a net loss of $172,872
on $0 of revenue for the same period during the prior year.

The Company reported a net loss of $2.00 million on $41.32 million
of revenue for the year ended Dec. 31, 2010, compared with a net
loss of $1.87 million on $0 of revenue during the prior year.

The Company's balance sheet at March 31, 2011, showed $4.36
million in total assets, $4.62 million in total liabilities and a
a $252,964 total stockholders' deficit.

S.E.Clark & Company, P.C., in Tucson, Arizona, the Company's
independent auditors, noted that the accumulation of losses and
shortage of capital raise substantial doubt about the Company's
ability to continue as a going concern.

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

                        http://is.gd/h2yiKG

                     About Universal Bioenergy

Universal Bioenergy Inc., is an alternative energy company
headquartered in Irvine, California.  The Company's new strategic
direction is to develop and market a diverse product line of
alternative and natural energy products including, natural gas,
solar, biofuels, wind, wave, tidal, and green technology products.


USG CORP: Subsidiary to Close Eight Add'l Distribution Branches
---------------------------------------------------------------
As a further step in USG Corporation's ongoing adjustment of its
operations to adapt to market conditions, the Company's
subsidiary, L&W Supply Corporation, has determined that it will
close eight additional distribution branches and its Nevada custom
door and frames business before the end of the third quarter of
this year.

The Company will record charges of approximately $7-$8 million in
the current and future fiscal quarters related to these closures.
These charges include approximately $5-$6 million related to
equipment and distribution branch lease terminations,
approximately $1 million for termination benefits and
approximately $1 million for associated costs, including inventory
write-offs.  The Company estimates that it will incur cash
expenditures of approximately $6-$7 million in the current and
future fiscal quarters in connection with the closures.

                       About USG Corporation

Based in Chicago, Ill., USG Corporation -- http://www.usg.com/--
through its subsidiaries, manufactures and distributes building
materials producing a wide range of products for use in new
residential, new nonresidential and repair and remodel
construction, as well as products used in certain industrial
processes.

The company filed for Chapter 11 protection on June 25, 2001
(Bankr. Del. Case No. 01-02094).  When the Debtors filed for
protection from their creditors, they disclosed $3,252,000,000 in
assets and $2,739,000,000 in debts.  The Debtors emerged from
bankruptcy protection on June 20, 2006.

The Company's balance sheet at June 30, 2011, showed $3.94 billion
in total assets, $3.42 billion in total liabilities and $527
million in total stockholders' equity.

                          *     *     *

As reported by the TCR on Aug. 15, 2011, Standard & Poor's Ratings
Services lowered its corporate credit rating on USG Corp. to 'B'
from 'B+'.

"The downgrade reflects our expectation that USG's operating
results and cash flow are likely to be strained over the next year
due to the ongoing depressed level of housing starts and still-
weak commercial construction activity," said Standard & Poor's
credit analyst Thomas Nadramia.  "It is now more likely, in
our view, that any meaningful recovery in housing starts may be
deferred until late 2012 or into 2013.  As a result, the risk that
USG's liquidity in the next 12 to 24 months will continue to erode
(and be less than we incorporated into our prior ratings) has
increased.  The ratings previously incorporated a greater
improvement in housing starts, which would have enabled USG to
reduce its negative operating cash flow in 2012 and achieve
breakeven cash flow or better by 2013."


VENTANA HILLS: Montour to Get $1.4 Million in Back Property Taxes
-----------------------------------------------------------------
Andrea Iglar at Pittsburgh Post-Gazette reports that the Montour
School District is set to receive more than $1.4 million in back
property taxes from a Robinson apartment complex.

According to the report, Ventana Hills must pay in full delinquent
real estate taxes and reimburse Montour for legal and tax
collection fees under a bankruptcy agreement, school attorney
Donald Palmer said.

                        About Ventana Hills

Ventana Hills Associates, Ltd., is the owner and operator of a
residential apartment project located in Pittsburgh, Pennsylvania,
known as "Ventana Hills Apartments.  Ventana Hills Apartments was
constructed in 2002 as a rental apartment community, in two
phases, and was purchased by the Debtor in 2004 for $50,000.

Ventana Hills Associates and affiliate Ventana Hills Phase II,
L.P., filed for Chapter 11 bankruptcy (Bankr. N.D. Ill.
Case No. 09-41755) on Nov. 3, 2009.  The Debtors each estimated
assets of and debts of $50 million to $100 million in their
respective petitions.  Richard H. Fimoff, Esq., at Robbins,
Salomon & Patt Ltd., in Chicago, Illinois, represent the Debtor.


VOICE ASSIST: Posts $3.0 Million Net Loss in 2nd Quarter
--------------------------------------------------------
Voice Assist, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $3.0 million on $299,089 of revenues for
the three months ended June 30, 2011, compared with a net loss of
$47,274 on $298,644 of revenues for the same period last year.

The Company reported a net loss of $5.9 million on $534,138 of
revenues for the six months ended June 30, 2011, compared with a
net loss of $132,838 on $673,851 of revenues for the same period
of 2010.

The Company's balance sheet at June 30, 2011, showed $1.3 million
in total assets, $476,845 in total liabilities, all current, and
stockholders' equity of $781,261.

Mantyla McReynolds LLC, in Salt Lake City, Utah, expressed
substantial doubt about Voice Assist's ability to continue as a
going concern, following the Company's 2010 results.  The
independent auditors noted that the Company has working capital
deficits and has incurred losses from operations and negative
operating cash flows during the years ended Dec. 31, 2010, and
2009.

A copy of the Form 10-Q is available at http://is.gd/6tPBiC

Lake Forest, California-based Voice Assist, Inc.
-- http://www.voiceassist.com/-- is a hosted speech services
provider offering cloud based speech recognition technology
designed to voice enable mobile applications.


VU1 CORPORATION: Posts $1.8 Million Net Loss in 2nd Quarter
-----------------------------------------------------------
Vu1 Corporation filed its quarterly report on Form 10-Q, reporting
a net loss of $1.84 million on $7,816 of revenue for the three
months ended June 30, 2011, compared with net income of $657,968
on $nil revenue for the same period last year.

The Company reported a net loss of $3.08 million on $7,816 of
revenue for the six months ended June 30, 2011, compared with net
income of $720,748 on $nil revenue for the same period of 2010.

The Company's balance sheet at June 30, 2011, showed $5.27 million
in total assets, $4.34 million in total liabilities, and
stockholders' equity of $932,177.

As reported in the TCR on April 11, 2011, Peterson Sullivan, LLP,
in Seattle, Wash., expressed substantial doubt about Vu1
Corporation's ability to continue as a going concern, following
the Company's 2010 results.  The independent auditors noted that
the Company incurred a net loss of $4,626,250, and it had negative
cash flows from operations of $3,529,351 in 2010.  "In addition,
the Company had an accumulated deficit of $70,499,569 at Dec. 31,
2010."

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

New York City-based Vu1 Corporation (OTC BB: VUOC)
-- http://www.Vu1.com/-- designs, develops and manufactures
mercury-free light bulbs using the Company's proprietary Electron
Stimulated Luminescence(TM), or ESL, lighting technology.


WAGSTAFF MINNESOTA: Committee May Challenge Liens Until Sept. 17
----------------------------------------------------------------
The Hon. Nancy C. Dreher of the U.S. Bankruptcy Court for the
District of Minnesota approved the stipulation extending the
deadline of the Official Committee of Unsecured Creditors in the
Chapter 11 case of Wagstaff Minnesota Inc., to challenge liens and
security interests of the Debtors' senior secured lenders.

The Committee has until Sept. 17, 2011, to object to, challenge,
or seek to avoid the amount, validity, or enforceability of the
alleged liens and security interests held by certain secured
creditors of the Debtors, including General Electric Capital
Corporation, General Electric Capital Business Asset Funding
Corporation of Connecticut, GE Capital Franchise Finance
Corporation, and Colonial Pacific Leasing Corporation, well as
Perella Weinberg Partners Asset Based Value Master Fund I L.P. and
Perella Weinberg Partners ABV Master Fund II A L.P.

The stipulation among the Committee, GE and PWP provides that,
among other things:

   -- the Committee's Sept. 17 challenge extension is limited to
      the reserved challenges; and

   -- except as specifically amended by the stipulation, the cash
      collateral order remains in full force and effect.

The Committee is represented by:

         LOMMEN, ABDO, COLE, KING & STAGEBERG, P.A.
         Deborah C. Swenson, Esq.
         80 South Eighth Street
         Minneapolis, MN 55402
         Tel: (612) 339-8131
         Fax: (612) 339-8064
         E-mail: debs@lommen.com

         FREEBORN & PETERS LLP
         Aaron L. Hammer, Esq.
         Richard S. Lauter, Esq.
         Thomas R. Fawkes, Esq.
         311 South Wacker Drive, Suite 3000
         Chicago, IL 60606
         Tel: (312) 360-6000
         Fax: (312) 360-6571
         E-mails: rlauter@freebornpeters.com

                  ahammer@freebornpeters.com
                  tfawkes@freebornpeters.com

GE is represented by:

         QUARLES & BRADY LLP
         Susan G. Boswell, Esq.
         One South Church Avenue, Suite 1700
         Tucson, AR 85701
         Tel: (520) 770-8713
         Fax: (520) 770-2222
         E-mail: susan.boswell@quarles.com

         Perella Weinberg is represented by:

         WINSTON & STRAWN LLP
         Brian I. Swett, Esq.
         Myja K. Kjaer, Esq.
         35 West Wacker Drive
         Chicago, IL 60601
         Tel: (312) 558-5600
         Fax: (312) 558-5700

                      About Wagstaff Properties

Hanford, California-based Wagstaff Properties LLC and its debtor-
affiliates filed for Chapter 11 protection (Bankr. D. Minn. Case
No. 11-43074) on April 30, 2011.

The cases are jointly administered with Wagstaff Minnesota Inc.
(Bankr. Case No. 11-43073).  Bankruptcy Judge Nancy C. Dreher
presides the case.  Fredrikson & Byron, PA, and Peitzman Weg &
Kempinsky LLP represent the Debtor in their restructuring efforts.
The debtors estimated assets and liabilities at $10 million to
$50 million.


WAGSTAFF PROPERTIES: Terra Properties Ok'd as Affiliate's Broker
----------------------------------------------------------------
The Hon. Nancy C. Dreher of the U.S. Bankruptcy Court for the
District of Minnesota authorized D & D Property Investments, LLC,
debtor-affiliate of Wagstaff Minnesota Inc., to employ Terra
Properties as its real estate broker.

The Debtor D & D Property will pay Terra's fees amounting $10,000.
Upon the close of the sale of the property, the Debtor will be
authorized to immediately pay in full Terra's commission of 4% of
the purchase price amounting to$10,000, and no further application
for fees will be made by Terra.

                     About Wagstaff Properties

Hanford, California-based Wagstaff Properties LLC and its debtor-
affiliates filed for Chapter 11 protection (Bankr. D. Minn. Case
No. 11-43074) on April 30, 2011.

The cases are jointly administered with Wagstaff Minnesota Inc.
(Bankr. Case No. 11-43073).  Bankruptcy Judge Nancy C. Dreher
presides the case.  Fredrikson & Byron, PA, and Peitzman Weg &
Kempinsky LLP represent the Debtor in their restructuring efforts.
The debtors estimated assets and liabilities at $10 million to
$50 million.


WHITEMUD RESOURCES: BIA Proposal Approved by Creditors
------------------------------------------------------
Whitemud Resources Inc. is pleased to announce that the second
amended proposal sponsored by Kasten Energy Inc. pursuant to Part
III, Division I of the Bankruptcy and Insolvency Act (Canada) was
approved by the various classes of creditors of Whitemud on July
21, 2011and was ratified by the Court of Queen's Bench of Alberta,
Judicial District of Calgary by a court order issued on August 12,
2011. (Further information on both the receivership of Whitemud
and the Second Amended Proposal can be accessed on the website of
Deloitte & Touche Inc. at www.deloitte.ca under the Insolvency and
Restructuring link.)

Pursuant to the Court Order, the following individuals were named
as the interim directors of Whitemud to hold office until the next
annual meeting of its shareholders: Al J. Kroontje, Stanley A.
Owerko, Barry Lester, Randall J. Findlay and Vince Davoli.  As
interim directors, they now have control and operation of the
property, assets and undertaking of Whitemud.  The directors have
now appointed the following officers: Stanley A. Owerko (Chief
Executive Officer), David Storoshenko (President), Michele Ward
(Chief Financial Officer) and Robert J. Iverach, Q.C. (Secretary).
Kasten will carry out the terms of the Second Amended Proposal and
Kasten (or its nominee(s)) will receive 16,000,000 Class "A"
Common Shares and 326,499,700 Class "B" Non-voting Common Shares
from treasury.  After the issuance of these new shares, there will
be 34,026,300 Class "A" Common Shares and 326,499,700 Class "B"
Non-voting Common Shares issued and outstanding.

The new board of directors and management of Whitemud will be
taking steps to have the cease trade order that was issued against
it by the Alberta Securities Commission on December 3, 2010 and
any other cease trade orders issued against Whitemud revoked and
will be analyzing Whitemud's operations and potential markets to
determine how and when mining and processing operations can be
recommenced at Whitemud's facilities in southern Saskatchewan.

                   About Whitemud Resources Inc.

Whitemud is a Canadian-based corporation holding mineral rights to
exploit a large kaolin deposit in southern Saskatchewan, together
with a state of the art, recently constructed processing facility
located on the property.  Whitemud's product, Whitemud(MK), is a
cement-grade metakaolin that enhances the performance of cement
for oil and gas wells and construction applications.  The Company
uses a patented process that minimizes environmental impact.
On December 3, 2011, trading in the securities of Whitemud was
suspended by the TSX Venture Exchange ("TSXV") and on Feb 28,
2011, Whitemud's listing was transferred to the NEX board of the
TSXV where it remains suspended.


WOMEN'S APPAREL: To Sell Assets in Mid-September Public Auction
---------------------------------------------------------------
Gerry Tuoti at the Taunton Gazette reports that Warren Pepicelli,
executive vice president of the union Unite Here that represents
80 workers at the Taunton facility, said a bankruptcy court set a
date in mid-September for the company to be sold at a public
auction,

"At that point a buyer will come forward and put a bid in," the
report quotes Mr. Pepicelli as stating.  What happens after that,
he said, is difficult to predict.

According to the report, a freeze on the Company's assets was
lifted in court late last week, allowing workers to cash their
paychecks and report back to work Monday.

Boston Apparel Group bought the brand three years ago from Redcats
USA, a French company that acquired the line from Brylane and
Chadwicks of Boston.

On June 29, 2011, Women's Apparel Group LLC, doing business as
Boston Apparel Group, filed for Chapter [7] bankruptcy protection;
in July, the petition was converted to Chapter 11 reorganization.


WOODS CANYON: Affiliates File Schedules of Assets and Liabilities
-----------------------------------------------------------------
Debtor-affiliates of Woods Canyon Associates L.P. filed with the
U.S. Bankruptcy Court for the District of California their
respective schedules, disclosing:

   Name of Company               Assets          Liabilities
   ---------------               ------          -----------
Diaz Road Properties, LLC       $7,365,466       $18,011,076
RCI Redbird, LLC                $8,378,360       $18,003,272
RCI Regional Grove, LLC         $9,152,353        $5,983,864
RCI Rio Nedo, LLC               $3,186,238       $17,983,289

As reported in the Troubled Company Reporter on Aug. 18, 2011,
Woods Canyon filed its schedules of assets and liabilities,
disclosing $216,319 in assets and $5,995,219 in liabilities.

Woods Canyon Associates L.P., based in Temecula, California, filed
for Chapter 11 bankruptcy (Bankr. C.D. Calif. Case No. 11-32418)
on July 11, 2011.  Ron Bender, Esq., and Krikor J. Meshefejian,
Esq., at Levene, Neale, Bender, Yoo & Brill LLP, in Los Angeles,
serve as the Debtor's bankruptcy counsel.  In its petition, the
Debtor estimated assets of $10 million to $50 million, and debts
of $1 million to $10 million.

The petition was signed by Paul Garrett, president/sole
shareholder of Woods Canyon's general partner.

Three affiliates Diaz Road Properties, LLC (Bankr. C.D. Calif.
Case No. 11-28473); RCI Redbird, LLC (Bankr. C.D. Calif. Case No.
11-28479); and RCI Rio Nedo, LLC (Bankr. C.D. Calif. Case No.
11-28470) filed separate Chapter 11 petitions on June 6, 2011.
Affiliate RCI Regional Grove, LLC (Bankr. C.D. Calif. Case No.
11-22055) filed on April 12, 2011.

Judge Deborah J. Saltzman was originally assigned to Woods
Canyon's case, but was later replaced by Judge Scott C. Clarkson,
who handled the affiliates' cases.


WORLD SURVEILLANCE: Incurs $2.5 Million Net Loss in 2nd Quarter
---------------------------------------------------------------
World Surveillance Group Inc., formerly Sanswire Corp., filed its
quarterly report on Form 10-Q, reporting a net loss of
$2.5 million on $26,093 of sales for the three months ended
June 30, 2011, compared with a net loss of $4.1 million on
$250,000 of revenue for the same period last year.

The Company reported a net loss of $111,632 on $26,093 of sales
for the six months ended June 30, 2011, compared with a net loss
of $4.8 million on $250,000 of sales for the same period of 2010.

The Company's balance sheet at June 30, 2011, showed $3.7 million
in total assets, $17.9 million in total liabilities, and a
stockholders' deficit of $14.2 million.

Rosen Seymour Shapss Martin & Company LLP, in New York, expressed
substantial doubt about Sanswire's ability to continue as a
going concern, following the 2010 financial results.  The
independent auditor noted that the Company has experienced
significant losses and negative cash flows, resulting in decreased
capital and increased accumulated deficits.

A copy of the Form 10-Q is available at http://is.gd/DNdp7J

World Surveillance Group Inc. designs, develops, markets and sells
autonomous lighter-than-air (LTA) unmanned aerial vehicles (UAVs)
capable of carrying payloads that provide persistent security
and/or wireless communication from air to ground solutions at low,
mid and high altitudes.  The Company's airships, when integrated
with electronics systems and other high technology payloads, are
designed for use by government-related and commercial entities
that require real-time intelligence, surveillance and
reconnaissance or communications support for military, homeland
defense, border control, drug interdiction, natural disaster
relief and maritime missions.  The Company is headquartered at the
Kennedy Space Center, in Florida.


XYIENCE INC: Interlocutory Appeal Over $150MM Sanctions Bid Denied
------------------------------------------------------------------
On July 18, 2007, Xyience Incorporated filed its complaint against
Richard Bergeron, III, in Nevada state court.  Three months after
its bankruptcy filing, on March 20, 2008, Xyience removed the
state court litigation to the bankruptcy court.  On Jan. 21, 2009,
Mr. Bergeron filed an amended motion for F.R.C.P. Rule 22 and Rule
9011 sanctions requesting sanctions against the parties and
attorneys in the state court litigation and other entities that
had not made any appearances in that action, including Zyen LLC.
The amended sanctions motion sought $150 million.

On Feb. 10, 2009, Fertitta Enterprises filed its opposition to the
amended sanctions motion.  On Nov. 19, 2010 -- while the amended
sanctions motion, Fertitta Enterprises' opposition, and other
related motions remained pending before the bankruptcy court --
Mr. Bergeron filed a motion seeking leave to amend the amended
sanctions motion.  Fertitta Enterprises filed an opposition to the
amended sanctions motion.

On Feb. 10, 2011, the bankruptcy court denied the leave to amend
motion. In response, Mr. Bergeron appealed, seeking to have the
district court reverse the bankruptcy court's order denying the
leave to amend motion.

Zyen LLC and Fertitta Enterprises sought dismissal of the appeal.

In his Aug. 24, 2011 Order, District Judge James C. Mahan held
that there are no proper grounds to grant Mr. Bergeron leave to
appeal the bankruptcy court's Feb. 10, 2011 interlocutory order.
The leave to amend motion was straightforward, requesting the
bankruptcy court use its discretion and allow Mr. Bergeron to
amend a motion that had been pending before the court for several
months, during which, Mr. Bergeron continuously attempted to
improperly present additional and new evidence.  The bankruptcy
court exercised its discretion to deny the motion, and the
district court does not find that such denial was an abuse of
discretion, Judge Mahan said.  The bankruptcy court's order did
not, therefore, involve a controlling question of law where there
was substantial ground for difference of opinion. Moreover, a
reversal on the leave to amend motion will not advance the
efficient resolution of the litigation, but merely enable Mr.
Bergeron to amend a sanctions motion that is already pending
before the bankruptcy court.

The case is XYIENCE, INCORPORATED, a Nevada corporation,
Plaintiff, v. RICHARD BERGERON, III, an individual, Defendant.
RICHARD BERGERON, III, an individual, Counterclaimant, v.
XYIENCE, INCORPORATED, a Nevada corporation; FERTITTA ENTERPRISES,
INC., a Nevada corporation, Counterdefendants. RICHARD BERGERON,
III, an individual, Appellant, v. ZYEN, LLC, a Nevada limited
liability company, and FERTITTA ENTERPRISES, INC., a Nevada
corporation, Appellees, No. 2:11-CV-00772 (D. Nev.).  A copy of
Judge Mahan's order is available at http://is.gd/H6Hfslfrom
Leagle.com.

                 About Xyience Incorporated

Xyience Incorporated -- http://www.xyience.com/-- manufactures
sports nutrition products and related commodities, like an apparel
line.  Xyience sells its energy drink through 230 convenience and
grocery stores, mostly in the Southwest.  Known for its Xenergy
energy drink, Xyience is an Ultimate Fighting Championship sponsor
and signed a $15 million sponsorship agreement with the UFC for
2007.

Founder and former CEO Russell Pike, together with Prosperity
Investments Alliance LLC and other creditors filed involuntary
Chapter 11 petition against the Debtor (Bankr. D. Nev. Case No.
08-10049) on Jan. 3, 2008.  Mr. Pike listed $2,157,516 and
Prosperity listed $1,102,500 in unsecured claims.  Marjorie A.
Guymon, Esq., at Goldsmith & Guymon PC represents Mr. Pike and the
other creditors in the involuntary bankrupty petition.

The Debtor filed a voluntary petition under Chapter 11 (Bankr. D.
Nev. Case No. 08-10474) on Jan. 18, 2008. Laurel E. Davis, Esq.,
at Fennemore Craig PC, represents the Debtor in its restructuring
efforts.  An Ad Hoc Committee Holding Unsecured Claims has been
appointed in the case and was represented by Jason C. Farrington,
Esq., at DLA Piper US LLP.  The Debtor listed total assets of
$5,285,722 and total debts of $42,342,831.


YARNELL'S ICE: Files for Chapter 7 Bankruptcy Protection
--------------------------------------------------------
Dayton Daily News, citing report from the Associated Press, says
Yarnell's Ice Cream Company Inc. has filed for Chapter 7
bankruptcy in the U.S. Bankruptcy Court in the Eastern District of
Arkansas less than two months after shutting down its operations.

The Company listed $8 million in assets and $15.7 million in total
liabilities.  The company said it has received offers to purchase
its assets, including property, the Yarnell's name, recipes and
inventory.

The report says Yarnell's ceased operations June 30 after nearly
80 years in business and laid off about 200 workers in Searcy as
well as Tennessee and Mississippi.

The report adds the Company cited a decline in ice cream sales and
rising prices that it says has hit the industry hard.


ZOGENIX INC: Files Form S-1, Registers 12 Million Common Shares
---------------------------------------------------------------
Zogenix, Inc., filed with the U.S. Securities and Exchange
Commission a Form S-1 registration statement relating to the sale
of 12,000,000 shares of the Company's common stock.

The Company's common stock is listed on the Nasdaq Global Market
under the symbol "ZGNX."  On Aug. 22, 2011, the last reported sale
price of the Company's common stock on the Nasdaq Global Market
was $3.40 per share.

The Company intends to use the net proceeds from this offering to
fund the cost of submitting an New Drug Application to the Food
and Drug Administration U.S. regulatory approval of Zohydro, to
fund the initial clinical development of Relday and to fund the
ongoing commercialization of Sumavel DosePro and for working
capital and other general corporate purposes.

A full-text copy of the Form S-1 prospectus is available for free
at http://is.gd/1nzDu4

                         About Zogenix Inc.

Zogenix, Inc. (NASDAQ: ZGNX), with offices in San Diego and
Emeryville, California, is a pharmaceutical company
commercializing and developing products for the treatment of
central nervous system disorders and pain.

The Company's balance sheet at June 30, 2011, showed
$51.4 million in total assets, $58.5 million in total liabilities,
and a stockholders' deficit of $7.1 million.

As reported in the TCR on March 8, 2011, Ernst & Young LLP, in San
Diego, Calif., expressed substantial doubt about Zogenix's ability
to continue as a going concern, following the Company's 2010
results.  The independent auditors noted that of the Company's
recurring losses from operations and lack of sufficient working
capital.


* RealtyTrac: Foreclosure Sales Climb While Sale Prices Decline
---------------------------------------------------------------
Dow Jones' DBR Small Cap reports that nearly one-third of all U.S.
homes sold in the second quarter of 2011 were in some stage of the
foreclosure process or had been repossessed by a lender, according
to numbers released by RealtyTrac.


* Ex-Kaye Scholer Atty Says Indictment May Prejudice Jury
---------------------------------------------------------
Lisa Uhlman at Bankruptcy Law360 reports that a former Kaye
Scholer LLP partner on Monday again asked a Utah federal court to
trim his bankruptcy fraud case, this time by removing language in
the indictment that implies he may have committed other offenses,
which he says could prejudice a jury.

According to Law360, the case, which accuses Stephen E. Garcia of
bankruptcy fraud, wire fraud and making a false oath, involves his
role as debtors' counsel in bankruptcy cases involving Geneva
Steel Co. and its successors.


* BDO and KPMG Confirm Sale of KPMG's Consumer Insolvency Practice
------------------------------------------------------------------
Continuing to expand on one of Canada's most comprehensive
financial recovery practices, BDO Canada Limited has announced the
integration of KPMG's consumer insolvency practice into BDO's
national financial recovery services practice.  Effective Aug. 26,
2011, the practices now operate under the BDO Canada Limited name.

BDO's financial recovery services practice now consists of 76
Chartered Insolvency and Restructuring Professionals and over 240
other professional and administrative staff combined, working in
over 95 offices across the country. This sale makes BDO one of the
largest teams of professionals providing consumer insolvency
services in Canada.

The newly expanded team of trustees in bankruptcy, proposal
administrators, credit counsellors and support staff will continue
delivering quality, timely and professional advice to individuals
and businesses with financial difficulties across Canada.

"KPMG is making the strategic decision to focus on our corporate
restructuring and turnaround services" says Bill Thomas, CEO of
KPMG. "As a firm that has a strong bankruptcy practice in Canada,
BDO was the best destination choice for our consumer bankruptcy
team and clients."

Bill Courage, National Insolvency Practice Leader, of BDO Canada
Limited stated: "We are proud to combine forces with such a strong
practice. Our teams and leadership groups across the country share
a common strength and philosophy of helping individuals and
business owners find win-win solutions with creditors. We are
excited to have KPMG's team of well-respected professionals and
their staff joining BDO."

Keith Farlinger, Chief Executive Officer of BDO Canada LLP, adds:
"This integration demonstrates our ongoing commitment to building
and strengthening our financial recovery practice across Canada.
On behalf of our firm, I am pleased to welcome the KPMG team."

BDO is the fifth largest single national accounting and advisory
partnership in Canada with 95 offices nationwide.


* Cohen & Grigsby Reaffirms Support of Arts Community
-----------------------------------------------------
Cohen & Grigsby, a business law firm with headquarters in
Pittsburgh, PA and an office in Bonita Springs, FL, has once again
demonstrated its support of the arts and cultural pursuits in the
greater Pittsburgh region by renewing its partnership with the
Pittsburgh Cultural Trust.  The law firm will serve as the
Presenting Sponsor of the 2011-12 "Trust Presents" series, a
programming division of the Pittsburgh Cultural Trust that offers
an eclectic selection of entertainment - from live music and
comedy to dazzling dancers and world-famous artists.  This is the
fourth consecutive year that Cohen & Grigsby has served as the
presenting sponsor of the series.

"Pittsburgh is in the midst of its third renaissance as we speak.
While the region remains proud of its industrial heritage, our
economy has redefined itself and has developed strong roots in
education, health care and technology," said Jack Elliott,
president and CEO of Cohen & Grigsby.  "For Pittsburgh to maintain
its status as a desirable place to live and work, we need to be
certain that the region also has a thriving, vibrant arts
community. Our support of the Pittsburgh Cultural Trust is playing
an important role in that endeavor, and we are proud to continue
our partnership with them."

The Pittsburgh Cultural Trust is a non-profit organization
dedicated to the promotion and development of Pittsburgh's
downtown Cultural District.  The 2011-12 edition of the "Trust
Presents" series includes more than 20 performances at both the
Byham Theater and the Benedum Center downtown.  Performances
include music by The Temptations and the Four Tops, comedy by Lily
Tomlin, dance by Shantala Shivalingappa, and commentary by Mike
Daisey.  Additionally, "Trust Presents" will host National
Geographic Live, a three-part lecture series, featuring three
award-winning photographers.  "Trust Presents" runs through May
13, 2012.

"By serving as an ongoing presenting sponsor of the 'Trust
Presents' series, Cohen & Grigsby continues to distinguish itself
as an exceptional supporter of the arts in this region," said J.
Kevin McMahon, president of the Pittsburgh Cultural Trust.  "Their
significant contribution enables us to continue presenting diverse
performing and visual arts programs to the region, helping to
further the Trust's vision of elevating the Cultural District's
reputation as a premiere destination for art and entertainment."

When Cohen & Grigsby re-established its Pittsburgh headquarters in
the city's Cultural District several years ago, the firm made
another tangible commitment to the arts community.  The firm's
offices (EQT Plaza, 625 Liberty Avenue, Pittsburgh) house an art
gallery that has become a dedicated space for local artists to
showcase their work to the public.  Since it's opening more than
two years ago, the gallery has hosted exhibitions from the
Associated Artists of Pittsburgh (AAP) and Burton Morris, an
internationally acclaimed artist who calls Pittsburgh his
hometown.

                      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.


* Upcoming Meetings, Conferences and Seminars
---------------------------------------------
Oct. 14, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     NCBJ/ABI Educational Program
        Tampa Convention Center, Tampa, Fla.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. __, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     International Insolvency Symposium
        Dublin, Ireland
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 25-27, 2011
  TURNAROUND MANAGEMENT ASSOCIATION
     Hilton San Diego Bayfront, San Diego, CA
        Contact: http://www.turnaround.org/

Dec. 1-3, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     23rd Annual Winter Leadership Conference
        La Quinta Resort & Spa, La Quinta, Calif.
           Contact: 1-703-739-0800; http://www.abiworld.org/

April 3-5, 2012
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Spring Conference
        Grand Hyatt Atlanta, Atlanta, Ga.
           Contact: http://www.turnaround.org/

Apr. 19-22, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Annual Spring Meeting
        Gaylord National Resort & Convention Center,
        National Harbor, Md.
           Contact: 1-703-739-0800; http://www.abiworld.org/

July 14-17, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Southeast Bankruptcy Workshop
        The Ritz-Carlton Amelia Island, Amelia Island, Fla.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Aug. 2-4, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Mid-Atlantic Bankruptcy Workshop
        Hyatt Regency Chesapeake Bay, Cambridge, Md.
           Contact: 1-703-739-0800; http://www.abiworld.org/

November 1-3, 2012
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Annual Convention
        Westin Copley Place, Boston, Mass.
           Contact: http://www.turnaround.org/

Nov. 29 - Dec. 2, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Winter Leadership Conference
        JW Marriott Starr Pass Resort & Spa, Tucson, Ariz.
           Contact: 1-703-739-0800; http://www.abiworld.org/

April 10-12, 2013
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Spring Conference
        JW Marriott Chicago, Chicago, Ill.
           Contact: http://www.turnaround.org/

October 3-5, 2013
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Annual Convention
        Marriott Wardman Park, Washington, D.C.
           Contact: http://www.turnaround.org/



                           *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers"
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors" Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Howard C. Tolentino, Joseph Medel C. Martirez, Denise
Marie Varquez, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R.
Villacampa, Sheryl Joy P. Olano, Carlo Fernandez, Christopher G.
Patalinghug, and Peter A. Chapman, Editors.

Copyright 2011.  All rights reserved.  ISSN: 1520-9474.

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