TCR_Public/110905.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

            Monday, September 5, 2011, Vol. 15, No. 246

                            Headlines

1318 9TH: Case Summary & 3 Largest Unsecured Creditors
A-PLUS FABRICS: Case Summary & 13 Largest Unsecured Creditors
ACCESS INSURANCE: Case Summary & 20 Largest Unsecured Creditors
ADOBE HOLDINGS: Case Summary & 19 Largest Unsecured Creditors
ALABAMA AIRCRAFT: Judge Approves Sale of Asset to Kaiser

ALLEN CAPITAL: Proposes Modifications to 5th Amended Plan
ALLIED DEFENSE: Files Certificate of Dissolution in Delaware
ALLIED IRISH: Reports EUR2.2 Billion Profit for Half Year 2011
ANDERSON NEWS: Court Dismisses Suit v. Parent, Lawyers
ARCTIC GLACIER: Waiver From Lenders Expires Sept. 9

ARMTEC HOLDINGS: DBRS Confirms Issuer Rating at 'B'
BEAR MOUNTAIN: Case Summary & 4 Largest Unsecured Creditors
ASTORIA GENERATING: Retains Perella Weinberg Partners as Advisors
BELGIUM CO: Case Summary & 20 Largest Unsecured Creditors
BERNARD L. MADOFF: Trustee Sues Barclays, Others for $218 Million

BMB MUNAI: Inks 1st Amendment to Palaeontol Participation Pact
BRICKMAN GROUP: S&P Revises Outlook to Negative; CCR at 'B'
BRIDGEVIEW AEROSOL: Committee Has Figliulo for Probe vs. Insiders
CARBONE COS: Panel's Suit Against Dwyer Firm Goes to Trial
CARTER'S GROVE: Exclusive Solicitation Period Extended to Oct. 11

CELL THERAPEUTICS: Annual Meeting Set for Nov. 11
CELL THERAPEUTICS: Has $4.8 Million Net Loss in July
CHIPPEWA COUNTY: S&P Puts BB Rating on $4MM Bonds on Watch Neg.
CONSECO FINANCE: App. Ct. Reverses Ruling in Travis County Suit
CORELOGIC INC: S&P Affirms BB Corporate, Gives Negative Outlook

CREEKSIDE BANK: Closed; Georgia Commerce Bank Assumes All Deposits
CROWNROCK LP: S&P Assigns 'CCC+' Corporate Credit Rating
DIABETES AMERICA: Oct. 5 Hearing on Liquidating Plan
DOMINGO VILLAS: Case Summary & 16 Largest Unsecured Creditors
DREIER LLP: Reaches Settlement With 360 Networks

DYLANS DANCE HALL: Files for Chapter 11, to Reopen Soon
EAGLE CROSSROADS: Case Summary & 19 Largest Unsecured Creditors
EAST WILLIAMSBURG: Case Summary & 3 Largest Unsecured Creditors
EDWARD YODER: Monarch Ex-CEO Has $2.7MM in Assets, $4MM in Debts
ELITE PHARMACEUTICALS: Amends Certificates of Designations

EVERGREEN ENERGY: Inks $750,000 Settlement with Insurance Carrier
FAIRCHILD MANOR: Case Summary & 20 Largest Unsecured Creditors
FENTURA FINANCIAL: Randy Hicks Appointed to Board of Directors
FIDDLER'S CREEK: Secured $6.3MM of DIP Financing for August
FIRST MARINER: Request for Continued NASDAQ Listing Denied

FIRST STREET: Case Summary & 12 Largest Unsecured Creditors
FLEXERA SOFTWARE: Cut to 'B' Corporate by S&P; Outlook Stable
GREAT ATLANTIC & PACIFIC: Has Until Jan. 16 to File Plan
GGIS INSURANCE: Case Summary & 7 Largest Unsecured Creditors
HARRISBURG, PA: Fate Now In The Hands Of Pennsylvania's Governor

HERITAGE CONSOLIDATED: Had Approval for Cash Use for August
HORIZN VILLAGE: Court Approves Gordon Silver as Bankr. Counsel
HOVENSA LLC: S&P Lowers Rating on First-Lien Facility to 'B'
IMH FINANCIAL: $50-Mil. Funding Paves Way for Recovery, Growth
INNER CITY: Senior Lenders Want to Restrict Use of Cash Collateral

INT'L COMMERCIAL: Board Appoints Richard Ransom as President
INTERTAPE POLYMER: S&P Raises Corporate Credit Rating to 'B-'
IRON MINING: Files for Reorganization Relief Under Chapter 11
LOCAL INSIGHT: Plan Outline Hearing Scheduled for Sept. 20
LOCAL INSIGHT: Stipulation on Investigation-Related Fees Approved

LOCATION BASED TECHNOLOGIES: 3 Directors Elected at Annual Meeting
LYDIAN SF: Case Summary & 2 Largest Unsecured Creditors
LYMAN LUMBER: Bankruptcy Judge Gives OK to Auction Assets
M WAIKIKI: Files for Bankruptcy to Fend Off Marriott
M WAIKIKI: Marriott Says Owner Bankruptcy Self-Defeating

M WAIKIKI: Voluntary Chapter 11 Case Summary
MARCO POLO: Targets Credit Agricole Unit Over Ship Arrest
MOORE SORRENTO: May Use Wells Fargo Cash Collateral until Sep. 18
MOORE SORRENTO: Sec. 341 Creditors' Meeting Set for Sept. 21
MOORE SORRENTO: Targets Sept. 14 Schedules Filing

MOORE SORRENTO: Seeks to Hire Forshey & Prostok as Counsel
NORTEL NETWORKS: Retiree Committee Taps Togut Segal as Counsel
NOVADEL PHARMA: Court Upholds Pfizer's Use Patent for ED to 2019
OLD CORKSCREW: Court Approves Kapila & Company as CRO
OLD CORKSCREW: Court Approves McDowell Rice as General Counsel

OLD CORKSCREW: Files Schedules of Assets & Liabilities
OMEGA NAVIGATION: Has Court Nod to Pay Critical Vendor Claims
PACIFIC CAPITAL: DBRS Confirms 'B' Issuer & Senior Debt Rating
PARAMOUNT LIMITED: Can Hire McDonald Hopkins as Counsel
PARMALAT SPA: Judge Affirms His Jurisdiction in Auditor Suits

PATRIOT BANK: Closed; Georgia Commerce Bank Assumes All Deposits
PENINSULA HOSPITAL: Sept. 13 Hearing for Patient Care Ombudsman
PENN TREATY: Provides Status on PTAC Liquidation Proceedings
PERKINS & MARIE: S&P Withdraws 'D' CCR on Lack of Information
PORTER HILLS: S&P Cuts Rating on Series 2003 Securities to 'BB-'

QEP RESOURCES: S&P Rates $1.5-Bil. Sr. Credit Facility at 'BB+'
QUALTEQ INC: U.S. Trustee Appoints 5-Member Creditor's Panel
QUANTUM FUEL: Amends Terms of WB QT Convertible Promissory Notes
RANCHER ENERGY: Seeks to Hire Stinson Morrison as Special Counsel
READER'S DIGEST: S&P Lowers Corporate Credit Rating to 'CCC+'

REGAL PLAZA: Has Lender Deal, Seeks Case Dismissal
RIDGE PARK: Can Hire Levene Neale as Bankruptcy Counsel
SBARRO INC: S&P Withdraws D Corp. Credit Rating on Lack of Info
SHASTA LAKE: Court OKs Downey Brand as Counsel
SHANE'S FLIGHT DECK: Shane's Bar Files for Chapter in Harrisburg

SHENGDATECH INC: Taps Garden City Group as Claims Agent
SHENGDATECH INC: Seeks Nod for Michael Kang as CRO
SHENGDATECH INC: 341(a) Creditors' Meeting Moved to Oct. 17
SHENGDATECH INC: U.S. Trustee Appoints 3-Member Creditor's Panel
SSI SYSTEMS: Case Summary & 20 Largest Unsecured Creditors

STELLAR GT: Can Hire CB Richard Ellis as Real Estate Broker
SUMMO INC: Seeks to Hire Daniel K. Usiak, Jr. as Counsel
SUNNYVALE BUSINESS: Files Schedules of Assets And Liabilities
THINK3 INC: $1.05MM Loan from Gensym Cayman Gets Final Approval
THINK3 INC: Postpones Assets Sale Plea to This Month

THOMAS HICKS: Voluntary Chapter 11 Case Summary
TOUSA INC: Can Use Lenders' Cash Collateral Through Sept. 30
US FIDELIS: Can Use Lenders' Cash Collateral Through Sept. 30
US POSTAL: Rep. Issa Launches SavingThePostalService.com
VERAX RESTAURANT: Case Summary & 21 Largest Unsecured Creditors

VITRO SAB: Unit Files Schedules of Assets and Liabilities
WASHINGTON MUTUAL: Judge Tosses Ex-Workers' Compensation Claims
WELLCARE HEALTH: S&P Withdraws 'B' Counterparty Credit Rating
WYLE SERVICES: S&P Keeps B+ Corp. Credit Rating; Outlook Stable
YRC WORLDWIDE: Board Approves Director Compensation Plan

ZALE CORP: Incurs $32.6 Million Net Loss in July 31 Quarter

* Berger Singerman Adds Hahn & Hessen Bankruptcy Pro

* BOND PRICING -- For The Week From Aug. 29 to Sept. 2, 2011


                            *********


1318 9TH: Case Summary & 3 Largest Unsecured Creditors
------------------------------------------------------
Debtor: 1318 9th Street LLC
        1318 9th Street, NW
        Washington, DC 20001

Bankruptcy Case No.: 11-00637

Chapter 11 Petition Date: August 31, 2011

Court: U.S. Bankruptcy Court
       District of Columbia (Washington, D.C.)

Judge: S. Martin Teel, Jr.

Debtor's Counsel: Steven H. Greenfeld, Esq.
                  COHEN, BALDINGER & GREENFELD LLC
                  7910 Woodmont Avenue, Suite 1103
                  Bethesda, MD 20814
                  Tel: (301) 881-8300
                  Fax: (301) 881-8350
                  E-mail: steveng@cohenbaldinger.com

Scheduled Assets: $0

Scheduled Debts: $1,510,000

A list of the Company's three largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/dcb11-00637.pdf

The petition was signed by Tom McGuire, president.


A-PLUS FABRICS: Case Summary & 13 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: A-Plus Fabrics, Inc.
        1323 Flower Street
        Los Angeles, CA 90015

Bankruptcy Case No.: 11-47488

Chapter 11 Petition Date: September 1, 2011

Court: U.S. Bankruptcy Court
       Central District of California (Los Angeles)

Judge: Ellen Carroll

Debtor's Counsel: David R. Haberbush, Esq.
                  HABERBUSH & ASSOCIATES, LLP
                  444 W. Ocean Boulevard, Suite 1400
                  Long Beach, CA 90802
                  Fax: (562) 435-6335
                  E-mail: dhaberbush@lbinsolvency.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 13 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/cacb11-47488.pdf

The petition was signed by Elliot Tishbi, president.


ACCESS INSURANCE: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Access Insurance Services, Inc.
        3301 S. Virginia Street
        Reno, NV 89502
        Tel: (775) 829-2600

Bankruptcy Case No.: 11-52830

Chapter 11 Petition Date: September 1, 2011

Court: U.S. Bankruptcy Court
       District of Nevada (Reno)

Judge: Bruce T. Beesley

Debtor's Counsel: Stephen R. Harris, Esq.
                  BELDING, HARRIS & PETRONI, LTD
                  417 W. Plumb Lane
                  Reno, NV 89509
                  Tel: (775) 786-7600
                  Fax: (775) 786-7764
                  E-mail: steve@renolaw.biz

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

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

The petition was signed by Jeffrey P. Shaffer, director.

Debtor's List of 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Sidecars-VSC                       Claim                        $2
1919 East 20th, Suite C
Joplin, MO 64804

EMS                                Claim                        $2
2063 Beechmont Avenue, Suite 4
Cincinnati, OH 45230

Tripro Group                       Claim                        $2
8333 SW Cirrus Drive
Beaverton, OR 97008

Sidecars-CPC                       Claim                        $2

Roberts Group                      Claim                        $2

NADC                               Claim                        $2

NADC                               Claim                        $2

LG Warranty                        Claim                        $2

IAP-GPR                            Claim                        $2

Foresight VSC/FPP                  Claim                        $2

Foresight Dealer Managed           Claim                        $2

Express Systems-T4L                Claim                        $2

Express Systems-ECM                Claim                        $2

Identity Sentinel                  Claim                        $2

Express Systems-ERG                Claim                        $2

Cush Honda of San Diego            Claim                        $1

Brooks Biddle Chevrolet Co         Claim                        $1

Burdick Toyota                     Claim                        $1

Capitol Honda                      Claim                        $1

Christopher's Dodge World, Inc.    Claim                        $1


ADOBE HOLDINGS: Case Summary & 19 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Adobe Holdings, Inc.
        3275 Orange Sun Street
        Las Vegas, NV 89135

Bankruptcy Case No.: 11-24115

Chapter 11 Petition Date: September 1, 2011

Court: U.S. Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Mike K. Nakagawa

Debtor's Counsel: Ryan Alexander, Esq.
                  LAW OFFICES OF RYAN ALEXANDER
                  200 E. Charleston Boulevard
                  Las Vegas, NV 89104
                  Tel: (702) 222-3476
                  Fax: (702) 252-3476
                  E-mail: ryan@thefirm-lv.com

Scheduled Assets: $9,377,900

Scheduled Debts: $45,963,200

A list of the Company's 19 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/nvb11-24115.pdf

The petition was signed by Robert E. Rippe, president.


ALABAMA AIRCRAFT: Judge Approves Sale of Asset to Kaiser
--------------------------------------------------------
Lance Duroni at Bankruptcy Law360 reports that U.S. Bankruptcy
Judge Peter J. Walsh on Wednesday cleared Alabama Aircraft
Industries Inc. to sell its assets to a unit of Kaiser Group
Holdings Inc. for $500,000 and up to $30 million in recoveries
from potential litigation.

Judge Walsh gave his blessing to the deal despite staunch
opposition from Chicago-based aircraft giant Boeing Co. - the
likely target of litigation envisioned by Alabama Aircraft,
according to Law360.

Aviation giant Boeing accused the buyer of crafting the deal to
shield the Company's former executives from lawsuits.  Boeing said
the sale is fundamentally unfair because it would protect Alabama
Aircraft's officers and directors, while putting the Company's
customers and vendors in the crosshairs of the buyer.

                     About Alabama Aircraft

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

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

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

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

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


ALLEN CAPITAL: Proposes Modifications to 5th Amended Plan
---------------------------------------------------------
Allen Capital Partners, LLC, and DLH Master Land Holding, LLC,
propose to make modifications to their Amended Fifth Joint Plan of
Reorganization and in accordance with those modifications, seek
that the U.S. Bankruptcy Court for the Northern District of Texas
value certain parcels of real property which is being distributed
to Compass Bank.

The Modifications include:

* Payment of 2010 Ad Valorem Property Taxes, specifically to
   Dallas County and Madrigal Trust

* Modifications to the treatment of:

    -- DLH Class 3 Subclass A: Pool 1 - Compass Pool
    -- DLH Class 3 Subclass B: Pool 2 - Hutchins Industrial Pool
    -- DLH Class 3 Subclass D: Pool 4 - Seller Financing Pool
    -- ACP Disputed Security Guaranty for Compass
    -- ACP Disputed Unsecured Guaranty for Compass

* Additional Exit Financing, whereby one or more of the current
   DIP Lenders, Richard Allen, and Luke Allen have agreed to
   provide Reorganized DLH a $2,000,000 line of credit.

A copy of the Modifications is available for free at:

    http://bankrupt.com/misc/ALLENCAPITAL_Modto5thAmndedPlan.PDF

The Plan Modifications are proposed in order to resolve certain
objections to the Plan.  The Debtors believe the Modifications are
non-material changes to the Plan that do not adversely affect the
treatment of any creditor that has voted to accept the Plan.
Thus, the Debtors assert, no further solicitation of the Plan or a
re-vote on the Plan is necessary.

                        About Allen Capital

Allen Capital Partners LLC and subsidiary DLH Master Land Holding
LLC, are the developers of Dallas Logistics Hub, a 6,000-acre
multimodal logistics park 12 miles (19 kilometers) from downtown
Dallas.

Allen Capital Partners, LLC, dba The Allen Group, filed for
Chapter 11 bankruptcy protection (Bankr. N.D. Tex. Case No. 10-
30562) on Jan. 25, 2010.  Mark MacDonald, Esq., at MacDonald +
MacDonald, P.C., represents the Debtor.  Lain, Faulkner & Co. is
the Debtor's financial advisor.  The Company disclosed
$220,325,201 in assets and $160,622,236 in liabilities as of the
Chapter 11 filing.

The Debtor's affiliate -- DLH Master Land Holding, LLC, dba The
Allen Group -- filed a separate Chapter 11 bankruptcy petition.

Another affiliate, Visalia, California-based Richard S. Allen,
Inc., filed for Chapter 11 bankruptcy protection (Bankr. N.D.
Texas Case No. 10-33211) on May 3, 2010.  Patrick J. Neligan, Jr.,
Esq., at Neligan Foley LLP, represents the Debtor.  The Company
disclosed $76,158,469 in assets and $53,728,982 in liabilities as
of the petition date.

The Debtors' proposed Reorganization Plan contemplates that the
Debtors will obtain sufficient exit financing from sales and loans
from insiders to enable them to pay all Administrative and non-tax
Priority Claims in full on the effective date.

No trustee or examiner has been appointed in any of the cases
administratively consolidated with those of the Debtors.

An Official Committee of Unsecured Creditors has been appointed.


ALLIED DEFENSE: Files Certificate of Dissolution in Delaware
------------------------------------------------------------
The Allied Defense Group, Inc., announced that it has filed a
Certificate of Dissolution with the State of Delaware.  This
action is pursuant to the Plan of Complete Liquidation and
Dissolution approved by its stockholders on Sept. 30, 2010, and is
consistent with Allied's SEC filings and periodic stockholder
letters.

Further consistent with the Plan of Complete Liquidation and
Dissolution and prior announcements, Allied has instructed its
stock transfer agent to cease recording transfers of its common
stock as of the close of business Aug. 31, 2011.

                   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. and Mecar USA, Inc.  Mecar is
located in Nivelles, Belgium and Mecar USA is located in Marshall,
Texas.

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 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.


ALLIED IRISH: Reports EUR2.2 Billion Profit for Half Year 2011
--------------------------------------------------------------
Allied Irish Banks, p.l.c., reported profit of EUR2.23 billion on
EUR604 million of net interest income for the half-year ended
June 30, 2011, compared with a loss of EUR1.73 billion on
EUR1.02 billion of net interest income for the same period a year
ago.

The Company's balance sheet at June 30, 2011, showed
EUR126.87 billion in total assets, EUR120.01 billion in total
liabilities, and EUR6.86 billion in total shareholders' equity
including non-controlling interests.

A full-text copy of the Half Year Results is available at no
charge at http://bankrupt.com/misc/AIBJuneHalf2011.pdf

                   About Allied Irish Banks, p.l.c.

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

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

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

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

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

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


ANDERSON NEWS: Court Dismisses Suit v. Parent, Lawyers
------------------------------------------------------
District Judge Virginia M. Hernandez-Covington dismissed a lawsuit
commenced by proprietors of a newsstand in Clearwater, Florida,
known as Downtown Newsstand, against Anderson Media, Young Conaway
Stargatt & Taylor, LLP and John D. McLaughlin, Esq., saying the
Court lacks subject matter jurisdiction over the lawsuit, personal
jurisdiction has not been established over the Defendants, and the
Complaint fails to state a claim upon which relief can be granted.

Linda Gail Franklin, et al., v. Anderson Media, et al., Case No.
8:10-cv-2935-T-33MAP (M.D. Fla.), revolves around a debt
collection dispute involving Anderson News and has been the
subject of several actions brought by the Plaintiffs against
various defendants.  Prior to February 2009, the Plaintiffs had a
business relationship with Anderson News, LLC, a subsidiary of
Anderson Media.  The Plaintiffs assert two causes of action
related to the manner in which Anderson News went out of business
and a dispute over a "return credit" not given towards the final
billing.  The Plaintiffs allege that during 2009 Anderson News, at
the direction of the parent company, Anderson Media, dispersed and
disposed of some $770 million in monies/assets of Anderson News to
13 affiliates of the parent, Anderson Media.  They further allege
that Anderson News was finally "hollowed out" and left with
virtually no value in the first week of February 2009.

A copy of Judge Hernandez-Covington's Aug. 31, 2011 Order is
available at http://is.gd/p0f8uPfrom Leagle.com.

Anderson News LLC is a sales and marketing company for books and
magazines.  Anderson News ceased doing business in February 2009,
and was the subject of an involuntary bankruptcy filing (Bankr. D.
Del. 09-_____) on March 2, 2009, on which an order for relief was
entered on Dec. 30, 2009.  The publishing companies claimed that
Anderson News owes them a combined $37.5 million.  Anderson News
converted the case to a voluntary chapter 11 case on the same day.


ARCTIC GLACIER: Waiver From Lenders Expires Sept. 9
---------------------------------------------------
Arctic Glacier Income Fund disclosed that the Fund's secured
lenders have extended the period during which they have waived
compliance with certain financial covenants under its credit
facilities up to and including Sept. 9, 2011.

The Fund was in breach of financial covenants governing maximum
leverage ratio, interest coverage ratio, fixed charge coverage
ratio and minimum EBITDA levels under its credit facilities as at
June 30, 2011.  Subsequent to the end of the quarter, on July 29,
2011, the Fund's secured lenders waived compliance with those
covenants for the quarter ended June 30, 2011 until Sept. 1, 2011.

Arctic Glacier is continuing active discussions with its lenders
to amend certain terms of the credit agreements for future
quarters, although there can be no assurance that such amendments
will be approved.

                       About Arctic Glacier

Arctic Glacier Income Fund, through its operating company, Arctic
Glacier Inc., is a leading producer, marketer and distributor of
high-quality packaged ice in North America, primarily under the
brand name of Arctic Glacier(R) Premium Ice.  Arctic Glacier
operates 39 production plants and 48 distribution facilities
across Canada and the northeast, central and western United States
servicing more than 75,000 retail locations.

Arctic Glacier Income Fund trust units are listed on the Toronto
Stock Exchange under the trading symbol AG.UN.  There are
currently 350.3 million trust units outstanding.


ARMTEC HOLDINGS: DBRS Confirms Issuer Rating at 'B'
---------------------------------------------------
DBRS has confirmed the Issuer Rating of Armtec Holdings Limited at
B (high) but has changed the trend to Negative.  The confirmation
recognizes that the Company has significantly reduced its
financial risk by securing committed financing (the Brookfield
Facility) from Brookfield Management Inc. (BAM; rated A (low) by
DBRS).  This has removed the uncertainty regarding refinancing in
the next 24 to 30 months, allowing the Company to focus on turning
its operations around.  The Negative trend reflects the fact that
Armtec's financial profile is weak and it faces significant
headwinds to stage a recovery.  DBRS has also confirmed the
recovery rating on Armtec's Senior Unsecured Debt at RR5 and the
associated instrument rating at B; the trend is also Negative.
With these rating actions, the ratings have been removed from
Under Review with Negative Implications, where they were placed on
July 26, 2011.

The Company announced on August 19, 2011, that it had completed
the Brookfield Facility - a $125 million secured loan facility
with a term of two years (extendable to 30 months at Armtec's
option) and has paid off the secured bank credit facility in full.
DBRS deems securing the Brookfield Facility a net positive
development, as this facility has a longer term and less-
restrictive financial covenants (albeit higher interest costs)
than the bank facility.  This is favorable because (1) it removes
a significant risk that the Company may breach the bank facility
covenants and suffer the resultant dire consequences; (2) the
Company will have more operating flexibility due to less financial
constraints; and (3) senior management has been relieved of a huge
distraction in not having to negotiate constantly with the banks
and can now focus on turning the operations around. On the day the
Brookfield Facility was completed, the Company borrowed the full
$125 million and paid off the senior bank facility in full, with
remaining proceeds of $28 million available for general corporate
purposes and transaction costs.  The Company's working capital
needs normally peak in the third quarter.  DBRS believes that the
remaining cash on hand, although modest, should provide the
Company a sufficient cushion to meet its funding needs.
Furthermore, working capital will decline in the fourth quarter
according to its seasonal pattern and generate cash to bolster
cash reserves.

Armtec's performance suffered a sharp deterioration in the first
half of 2011 due to a combination of operating inefficiencies, bad
(low-margin bidding) contracts, customer project delays,
unforeseen higher costs related to project complexity and
unfavorable market conditions.  In addition, DBRS believes that
senior management has been distracted by the ongoing major
organizational changes.  A key focus of management in 2010 was on
reorganizing its operations into regional operating units.
Further complicating matters, the Company was also implementing a
new company-wide Enterprise Resource Planning (ERP) system trying
to merge its existing disparate systems.  The disruptions and
complications of implementing these major changes to the
organization concurrently have contributed to the inefficiencies
and poor operating results.

The Company faces significant challenges to turn its operations
around.  The near-term outlook is not encouraging. The general
economy appears to have stalled, extending the slowdown of work in
the Construction and Infrastructure (CIA) business.  Margins are
also expected to be affected by the low bidding margin Engineered
Solutions (ES) business at least through the end of 2011.  In
addition, the Company needs to overcome operating inefficiencies
in the organization and ensure the conversion into a single ERP
system to run smoothly.  The transition into a single system in
the first half of 2011 proved to be difficult and has impaired
management visibility into the business and its ability to
forecast.  The key priority for the balance of 2011 is to ensure
that the conversion is successful, allowing management to have
timely information to manage the business effectively.  In
addition, the Company appointed a chief operating officer in March
2011 to drive operational improvement. Armtec's liquidity
position, although deemed adequate, is modest; the Company has to
be diligent in managing its highly seasonal working capital needs.

Nevertheless, DBRS believes that the Company's business profile
remains sound despite the disappointing operating results.  Armtec
is the only national provider of infrastructure-related products
in Canada, with leading market positions in its core markets.  The
Company has a well-balanced portfolio of work between the lower-
margin but stable CIA business and the normally higher-margin but
volatile ES business.  Armtec has low capital expenditures
requirements, which in combination with the suspension of
dividends should help improve its liquidity.

Going forward, the Company expects results in the ES business to
remain under pressure until existing lower-margin projects run off
near the end of 2011.  Additionally, the CIA business is not
expected to rebound in 2011 as activities in the residential,
commercial and industrial construction markets remain subdued.
DBRS will monitor the Company's progress in overcoming the
headwinds mentioned above.  Special attention will be on the
progress in improving ES margins in 2012 after the run-off of the
low bidding margin projects.  In addition, DBRS will evaluate the
Company's progress in driving operational improvements and the
deployment of the ERP system.  DBRS expects operating performance
in the last half of 2011 to be at least comparable to the year-ago
period.  Failure to stabilize operating results in the last half
of 2011 and to show steady improvement, especially gross margins
in ES projects, in 2012, and to demonstrate progress in the two
key management initiatives (operational improvement and ERP
deployment) would likely lead to at least a one-notch downgrade.

Pursuant to our rating methodology for leveraged finance, DBRS has
created a default scenario for Armtec in order to analyze when and
under what circumstances a default could hypothetically occur and
the potential recovery of the Company's debt in the event of such
default.  The scenario assumes that the economy fails to recover
and falls into a recession again in 2012.  DBRS has determined
Armtec's estimated value at default using an EBITDA multiple
valuation approach, consistent with a view that default would
likely result in the restructuring and/or recapitalization of the
assets with value as a going concern versus the sale of its
individual assets.  EBITDA multiples utilized are applied to
cyclically normalized EBITDA at default as opposed to the actual
low EBITDA values expected at the time of default, reflecting the
forward-looking nature of the valuation.  The valuation considers
the issuer and the specific debt instruments, allocating value
proceeds accordingly.  DBRS has forecast the economic value of the
components of the enterprise at approximately $148 million using a
4.0 times (x) multiple of normalized EBITDA for Armtec.  Based on
the default scenario, the Unsecured Notes have recovery estimated
between 10% and 30%, hence the assigned recovery rating of RR5.
The instrument rating of the senior unsecured debt is thus B.


BEAR MOUNTAIN: Case Summary & 4 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Bear Mountain Ranch Holdings, LLC
          fka Bear Mountain, LLC
          dba Bear Mountain Orchards
        P.O. Box 1705
        Chelan, WA 98816

Bankruptcy Case No.: 11-04354

Chapter 11 Petition Date: September 1, 2011

Court: U.S. Bankruptcy Court
       Eastern District of Washington (Spokane/Yakima)

Judge: Patricia C. Williams

Debtor's Counsel: Barry W. Davidson, Esq.
                  DAVIDSON BACKMAN MEDEIROS PLLC
                  601 West Riverside Avenue, Suite 1550
                  Spokane, WA 99201
                  Tel: (509) 624-4600
                  Fax: (509) 623-1660
                  E-mail: cnickerl@dbm-law.net

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

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

The petition was signed by Jerald E. Scofield, managing member.

Debtor's List of four Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Pinnacle Surveying                 Trade Debt               $2,715
P.O. Box 1107
Chelan, WA 98816

Northwest Geodimensions            Trade Debt               $2,546
15 North Chelan Avenue
Wenatchee, WA 98801

Bear Mountain Water District       Services                   $762
P.O. Box 3091
Chelan, WA 98816

PUD No. 1 of Chelan County         Utilities                   $83
P.O. Box 1231
Wenatchee, WA 98807-1231


ASTORIA GENERATING: Retains Perella Weinberg Partners as Advisors
-----------------------------------------------------------------
Astoria Generating Company, L.P. has retained financial advisory
firm Perella Weinberg Partners and the law firm of Kirkland &
Ellis, LLP to provide guidance on a potential restructuring.  This
step is necessary due to the actions taken by the New York
Independent System Operator which has resulted in dramatically
lower market clearing prices for capacity for the New York Zone
'J' power market.

Capacity pricing in July, August and September dropped
approximately 50 percent from the spot auction results in June as
a result of a government subsidized generating project being
allowed to artificially depress prices.  Unless these actions are
reversed capacity prices would drop to near zero for the upcoming
fall and winter months.

"NYISO's actions have resulted in a fundamental failure of the
marketplace," said Mark Sudbey CEO of US Power Generating Company,
Astoria Generating's parent.  "Generators rely on capacity pricing
for the vast majority of their revenue and at these prices, even
with no debt, we and other power generators will be forced to
suffer significant and ongoing operating losses.  The irony is
that over the course of this summer and through recent heat waves
we reliably provided nearly twenty percent of New York City's
electric supply when it was needed the most, while at the same
time the NYISO has taken actions that will not allow us to cover
our basic operating costs."

Astoria Generating Company and other market participants have
filed complaints with the Federal Energy Regulatory Commission
("FERC") seeking immediate relief and ensuring that the NYISO has
in place transparent and consistent policies and market mechanisms
to support competitive power markets by reducing the ability of
any generator or load side market participant to exercise market
power.

If FERC does not act and the NYISO does not begin to apply the
rules as they were intended, capacity pricing in New York City
will continue to deteriorate to a point where by year-end Astoria
Generating cash flow will be insufficient to cover operating
expenses, including property taxes, maintenance and capital
expenditures.  This outcome would leave the company with no choice
but to consider a financial restructuring in the bankruptcy
courts. Recently, Standard & Poor's downgraded Astoria
Generating's debt to the CCC+/CCC- level from its prior ratings of
BB-/B+.

Perella Weinberg Partners is an independent, privately-owned
financial services firm that provides corporate advisory and asset
management services to clients around the world.  Kirkland & Ellis
LLP is a 1,500-attorney law firm representing clients in complex
corporate and tax, restructuring, litigation and dispute
resolution/arbitration, and intellectual property and technology
matters.

                    About Astoria Generating

Astoria Generating Company, L.P. -- http://www.uspowergen.com/--
owns and operates power generation facilities with a total
capacity of over 2,100MW in New York City.  This subsidiary sells
energy and capacity into the NYISO deregulated market,
representing generation sufficient to serve approximately 20% of
the overall load in New York. Astoria Generating Company, L.P. is
a wholly owned subsidiary of US Power Generating Company.


BELGIUM CO: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: The Belgium Co., Inc.
        1100 Grape Avenue
        Saint Cloud, FL 34772

Bankruptcy Case No.: 11-13161

Chapter 11 Petition Date: August 30, 2011

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

Debtor's Counsel: Prabodh C. Patel, Esq.
                  STRAUS & PATEL, P.A.
                  118 West Orange Street
                  Altamonte Springs, FL 32714
                  Tel: (407) 331-5505
                  Fax: (407) 331-6308
                  E-mail: lpather@strauspatel.com

Scheduled Assets: $1,840,719

Scheduled Debts: $1,615,618

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/flmb11-13161.pdf

The petition was signed by Ivan Mazzaro, president/director.


BERNARD L. MADOFF: Trustee Sues Barclays, Others for $218 Million
-----------------------------------------------------------------
Ian Thoms at Bankruptcy Law360 reports that the trustee for
Bernard Madoff's securities firm hit Barclays Bank SA, Cathay Life
Insurance Co. Ltd. and others with adversary cases in New York on
Thursday seeking the return of more than $218 million allegedly
stolen from investors.

Law360 relates that trustee Irving Picard said that one of Bernard
L. Madoff Investment Securities LLC's largest feeder funds,
Fairfield Sentry Ltd., had received about $3 billion of "customer
property" from the company in a six-year period before his 2008
arrest.

                       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.


BMB MUNAI: Inks 1st Amendment to Palaeontol Participation Pact
--------------------------------------------------------------
BMB Munai, Inc., entered into a First Amendment and Waiver to the
Participation Interest Purchase Agreement with Palaeontol B.V., as
purchaser, and and MIE Holdings Corporation.  The Amendment amends
the previously disclosed Participation Interest Purchase
Agreement, dated Feb. 14, 2011, by and among Purchaser, the
Company and Parent to, among other things:

   (i) eliminate the post-closing transition services arrangement
       concept, which the parties have determined is no longer
       necessary;

  (ii) change the previously contemplated escrow agent to be
       Citibank, N.A., Hong Kong Branch, and the form of escrow
       agreement to be used in connection with the transaction;

(iii) provide for the delivery into escrow, in advance of the
       closing of the transactions contemplated by the Agreement
       and in conjunction with the Company's submission with the
       appropriate Kazakhstan governmental authorities of the
       documents necessary to effect the sale of Emir-Oil LLC
       to Purchaser, of all of the funds to be delivered to the
       Company by Purchaser at the closing;

  (iv) waive two of Purchaser's conditions to closing that would
       have required the Company to (x) obtain insurance for the
       transportation and storage of cargo prior to completing the
       transaction, and (y) provide documentary evidence of Emir's
       ownership of gas utilization facilities, electricity lines,
       gas pipelines and oil pipelines prior to completing the
       transaction; and

   (v) update to their final forms the opinions to be delivered by
       the Company's counsel at closing.

The Company has also agreed in the Amendment to provide the
documentary evidence of Emir's ownership of the assets described
above within three months of the closing date of the transaction.
In addition, the Company has exercised its right under the
Agreement to extend until Nov. 14, 2011, the date upon which the
parties may terminate the Purchase Agreement for convenience.

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

                        http://is.gd/89khDS

                          About BMB Munai

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

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

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

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

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

                        Bankruptcy Warning

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


BRICKMAN GROUP: S&P Revises Outlook to Negative; CCR at 'B'
-----------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook on
Brickman Group Holdings Inc. to negative from stable.

"At the same time, we affirmed the corporate credit rating at 'B',
and affirmed the issue-level ratings. Our issue-level rating on
the company's senior secured debt facilities is 'B+'. The recovery
rating is '2', indicating our expectation of substantial (70% to
90%) recovery in the event of a payment default. Our issue-level
rating on the company's senior unsecured notes is 'CCC+'. The
recovery rating is '6', indicating our expectation of negligible
(0 to 10%) recovery in the event of a payment default," S&P
related.

"The revised outlook reflects the potential for thin covenant
cushion under the company's total leverage covenant in the next 12
months," said Standard & Poor's credit analyst Stephanie Harter.

"The speculative-grade ratings on Brickman reflect our view that
the company's financial profile is highly leveraged, largely based
on its aggressive financial policies, including multiple leveraged
recapitalizations that have left its capital structure highly
leveraged and its cash flow measures thin. Our weak business risk
assessment incorporates our assessment of the company's narrow
business focus, vulnerability to changes in weather and the
economy, and our opinion that the sector exhibits low barriers to
entry, especially at the local level. These weaknesses
notwithstanding, we believe the company benefits from a decent
position within the highly fragmented commercial landscape
maintenance service market," S&P added.


BRIDGEVIEW AEROSOL: Committee Has Figliulo for Probe vs. Insiders
-----------------------------------------------------------------
Judge Pamela S. Hollis of the U.S. Bankruptcy for the Northern
District of Illinois has authorized the Official Committee of
Unsecured Creditors of Bridgeview Aerosol, LLC, to retain the law
firm of Figliulo & Silverman, P.C., as special counsel to
investigate the insider causes of action.

The Court has authorized the Committee to pursue certain insider
causes of action.  The Committee's request for standing is in
conjunction with a Global Settlement Motion between the Debtor,
Wells Fargo Bank, N.A., and the Committee.

Subject to approval of the Global Settlement, the Bank has
consented to paying up to $25,000 directly to Special Counsel for
the investigative phase of Special Counsel's engagement.  At the
present time, no agreement has been made with respect to any
services to be performed by Special Counsel beyond investigating
the Insider Causes of Action, including prosecution of such
litigation.

The Committee requests that Special Counsel be employed because in
the event the investigative phase reveals that it would be in the
best interest of the estate, the Special Counsel would pursue the
Insider Causes of Action on a contingent fee basis, which primary
counsel for the Committee is unable and unwilling to do.  In the
event prosecution is warranted, the Committee will file a
supplemental request to amend the employment of Special Counsel.

The professional services that will be required of Special Counsel
in the Chapter 11 Case are as follows:

    (a) To assist the Committee in analyzing and developing the
        insider causes of action;

    (b) To take discovery on the insider causes of action; and

    (c) To consult with the Committee and the Bank and determine
        whether prosecuting the insider causes of action is
        warranted.

Michael K. Desmond, a shareholder of Figliulo & Silverman, states
that the Special Counsel is a "disinterested person," as that term
is defined in Section 101(14) of the Bankruptcy Code and the
Special Counsel holds or represents no interests adverse to this
estate.

Figliulo & Silverman has agreed to provide legal services to the
Committee at these hourly rates:

     Jim Figliulo, Esq.           $450 per hour
     Michael K. Desmond, Esq.     $375 per hour
     Associates                   $250-$275 per hour
     Paralegal                    $95 per hour

The primary attorneys in charge of the engagement are:

         James R. Figliulo, Esq.
         Michael K. Desmond, Esq.
         FIGLIULO AND SILVERMAN, P.C.
         10 S. La Salle Street, Suite 3600
         Chicago, Illinois 60603
         Tel: (312) 251-4600
         Fax: (312) 251-4610
         E-mail: jfigliulo@fslegal.com
                 mdesmond@fslegal.com

                     About Bridgeview Aerosol

Bridgeview, Illinois-based Bridgeview Aerosol, LLC, provides
manufactures, packages and distributes household cleaning and
automotive aerosol products.  Affiliate AeroNuevo owns the real
property on which BVA operates.  USAerosols is the parent company
of BVA and AeroNuevo.

Bridgeview Aerosol and its affiliates filed for Chapter 11
protection (Bankr. N.D. Ill. Lead Case No. 09-41021) on Oct. 30,
2009.  Steven B. Towbin, Esq., at Shaw Gussis et al., assists the
Debtors in their restructuring efforts.  Bridgeview Aerosol
estimated $10 million to $50 million in assets and debts as of the
Petition Date.

Adam P. Silverman, Esq., and Henry B. Merens, Esq., at Adelman &
Gettleman, Ltd., represents the Official Committee of Unsecured
Creditors.

On November 19, 2009, William T. Neary, the U.S. Trustee for
Region 10, amended the appointment of the Official Committee of
Unsecured Creditors.  The Committee now consist of (i) Ball
Aerosol & Speciality Container; (ii) Black Flag Brands LLC; (iii)
Pennock Company; (iv) Diversified CPC International; (v) Laser
Tool Inc.; (vi) Berry Plastics Corporation; and (vii) Batavia
Container, Inc.


CARBONE COS: Panel's Suit Against Dwyer Firm Goes to Trial
----------------------------------------------------------
The lawsuit commenced by the Official Committee of Unsecured
Creditors in the bankruptcy cases of Carbone Companies, Inc., and
Carbone Properties, LLC, to recoup $96,546.47 in payments made by
the Debtors to the law firm of Dwyer, Cambre, & Suffern will
proceed to trial according to a ruling by Bankruptcy Judge Charles
M. Caldwell.  The Committee alleges that one or both of the
Debtors transferred the funds to Dwyer within the two year period
prior to the filing of the Debtors' bankruptcy petitions at a time
when the Debtors were insolvent.  The Committee also alleges that
the Debtors did not receive reasonably equivalent value for the
alleged transfers, or alternatively, that the transfers were made
with the actual intent to hinder, delay, or defraud creditors.
The Amended Complaint claims both actual fraudulent transfer and
constructive fraudulent transfer.  The Court granted the
Defendant's motion to dismiss the actual fraudulent transfer claim
but denied its motion with respect to the constructive fraudulent
transfer claim, saying the firm failed to meet its burden of
demonstrating the absence of a genuine dispute of material fact as
to that claim.

The case is The Official Committee of Unsecured Creditors of the
Debtors, Carbone Companies, Inc. and Carbone Properties, LLC, v.
Dwyer, Cambre & Suffern, Adv. Proc. No. 10-1288 (Bankr. N.D.
Ohio).  A copy of the Court's Sept. 1, 2011 Memorandum Opinion and
Order is available at http://is.gd/lrTx6qfrom Leagle.com.

                      About Carbone Companies

Cleveland, Ohio-based Carbone Companies Inc. dba R.P. Carbone
Company, provides construction management services.  Carbone Cos.
and Carbone Properties, LLC filed for Chapter 11 relief (Bankr.
N.D. Ohio Case Nos. 08-16786 and 08-16788) on Sept. 4, 2008.
Judge Randolph Baxter presides over the case.  Harry W.
Greenfield, Esq., at Buckley King, P.A., represents the Debtors in
their restructuring efforts.  When the Debtors filed for
protection from their creditors, each listed assets of between $10
million and $50 million, and debts of between $10 million to $50
million.

When the Debtors filed for bankruptcy, two other affiliates,
Rancho Manana Ventures, LLC and Carbone Properties of Audubon, LLC
had pending bankruptcy cases filed in other districts.  Based in
Cave Creek, Ariz., Rancho Manana Ventures, LLC filed for Chapter
11 relief (D. Ariz. Case No. 08-10441) on Aug. 13, 2008.  Thomas
E. Littler, Esq., at Warnicke & Littler, P.L.C., represents Rancho
Manana as counsel.  It estimated assets between $1 million and
$10 million, and debts between $10 million and $50 million.

The U.S. Trustee told the Court that as there has not been a
sufficient showing of creditor interest, a committee of unsecured
creditors has not been appointed in Rancho Manana's bankruptcy
case.

Based in New Orleans, La., Carbone Properties of Audubon, LLC
filed for Chapter 11 relief on Dec. 12, 2007 (Bankr. E.D. La.
07-12470).  Douglas S. Draper, Esq., at Heller, Draper, Hayden,
Patrick & Horn, L.L.C., represents the Debtor as counsel.  When
the Debtor filed for protection from its creditors, it estimated
assets between $1 million and $10 million, and debts between
$10 million and $50 million.


CARTER'S GROVE: Exclusive Solicitation Period Extended to Oct. 11
-----------------------------------------------------------------
The Hon. Stephen C. St. John of the U.S. Bankruptcy Court for the
Eastern District of Virginia has approved a stipulation between
Carter's Grove, LLC, and The Colonial Williamsburg Foundation
(CWF), AVN Air LLC (AVN) and Sotheby's Inc. on an extension of the
period under which the Debtor may exclusively solicit acceptances
of its Chapter 11 plan.

CWF, AVN and Sotheby's consent to a 60-day extension of the
Debtor's 180-day period through and including Oct. 11, 2011,
during which it may exclusively solicit acceptances of the Plan,
and will not oppose the Debtor's request of the Court to extend
this 180-day period by an additional 60 days without prejudice to
seek further extensions upon notice and hearing.

The Debtor is represented by:

        Robert S. Westermann, Esq.
        HIRSCHLER FLEISCHER, P.C.
        2100 East Cary Street
        Richmond, Virginia 23223
        Tel: (804) 771-9500
        Fax: (804) 644-0957
        E-mail: rwestermann@hf-law.com

The Colonial Williamsburg Foundation is represented by:

        Tara L. Elgie, Esq.
        HUNTON & WILLIAMS LLP
        Riverfront Plaza, East Tower, 951 E. Byrd Street
        Richmond, Virginia 23219
        Tel: (804) 788-8200
        Fax: (804) 788-8218

Sotheby's Inc. is represented by:

        John A. Trocki, III, Esq.
        MORRISON & FOERSTER LLP
        1650 Tysons Blvd., Suite 200
        McLean, Virginia 22102
        Tel: (703) 760-7712
        Fax: (703) 760-7777
        E-mail: jtrocki@mofo.com

AVN Air, LLC, is represented by:

        Alison Wickizer Toepp, Esq.
        REED SMITH LLP
        901 East Byrd Street, Suite 1700
        Richmond, Virginia 23219-4068
        Phone: (804) 344-3436
        Fax: (804) 344-3410
        E-mail: atoepp@reedsmith.com

                       About Carter's Grove

San Francisco, California-based Carter's Grove, LLC, owns the
historic Williamsburg, Virginia-area mansion named Carter's
Grove.  Halsey M. Minor owns the Company and bought the Carter's
Grove mansion for $15.3 million in 2007, at the height of the real
estate bubble.

Carter's Grove filed for Chapter 11 bankruptcy protection (Bankr.
N.D. Calif. Case No. 11-30554) on Feb. 14, 2011.  Debra I.
Grassgreen, Esq., at Pachulski, Stang, Ziehl, And Jones LLP,
serves as the Debtor's bankruptcy counsel.  In its schedules, the
Debtor disclosed $21,156,417 in assets and $12,490,476 in
liabilities.

On Aug. 1, 2011, the U.S. Bankruptcy Court for the Northern
District of California approved the transfer of the Chapter 11
case of Carter's Grove, LLC to the Bankruptcy Court for the
Eastern District of Virginia, Newport News Division.


CELL THERAPEUTICS: Annual Meeting Set for Nov. 11
-------------------------------------------------
The 2011 annual meeting of shareholders of Cell Therapeutics,
Inc., has been scheduled for Nov. 11, 2011.  The record date for
the Annual Meeting has been set as the close of business on
Sept. 28, 2011.  Because the date of the Annual Meeting has been
changed by more than 30 days from the anniversary of the Company's
2010 annual meeting of shareholders, the deadline for the
submission of shareholder proposals for inclusion in the Company's
proxy materials relating to the Annual Meeting in accordance with
Rule 14a-8 under the Securities Exchange Act of 1934 will be the
close of business on Sept. 14, 2011.  To be eligible for inclusion
in the Company's proxy materials, shareholder proposals must
comply with the requirements of Rule 14a-8 and with the Company's
second amended and restated bylaws.

The deadline of Sept. 14, 2011, applies only to shareholder
proposals that are eligible for inclusion in the Annual Meeting in
accordance with Rule 14a-8.  The deadline for the submission of
all other shareholder proposals, as well as shareholder nomination
of director candidates, to be brought before the Annual Meeting in
accordance with Article II, Sections 15 and 16 of the Bylaws has
already expired.

                      About Cell Therapeutics

Headquartered in Seattle, Washington, Cell Therapeutics, Inc.
(NASDAQ and MTA: CTIC) -- http://www.CellTherapeutics.com/-- is a
bi4opharmaceutical company committed to developing an integrated
portfolio of oncology products aimed at making cancer more
treatable.

The Company reported a net loss of $82.64 million on $319,000 of
revenue for the 12 months ended Dec. 31, 2010, compared with a net
loss of $82.64 million on $80,000 of total revenue during the same
period in 2009.

The Company's balance sheet at March 31, 2011 showed
$60.92 million in total assets, $43.11 million in total
liabilities, $13.46 million in common stock purchase warrants and
$4.35 million total shareholders' equity.

Marcum LLP, in San Francisco, Calif., expressed substantial doubt
about the Company's ability to continue as a going concern in its
audit reports for the financial statements for 2009 and 2010.  The
independent auditors noted that the Company has incurred losses
since its inception, and has a working capital deficiency of
approximately $14.2 million at Dec. 31, 2010.


CELL THERAPEUTICS: Has $4.8 Million Net Loss in July
----------------------------------------------------
Cell Therapeutics, Inc., provided the information pursuant to a
request from the Italian securities regulatory authority, CONSOB,
pursuant to Article 114, Section 5 of the Unified Financial Act,
that the Company issue at the end of each month a press release
providing a monthly update of certain information relating to the
Company's management and financial situation.

According to the Report, the Company incurred a net loss
attributable to common shareholders of $4.84 million on $0 of net
revenue for the month ended July 31, 2011.  A full-text copy of
the press release is available for free at http://is.gd/L6LWS8

                      About Cell Therapeutics

Headquartered in Seattle, Washington, Cell Therapeutics, Inc.
(NASDAQ and MTA: CTIC) -- http://www.CellTherapeutics.com/-- is a
biopharmaceutical company committed to developing an integrated
portfolio of oncology products aimed at making cancer more
treatable.

The Company reported a net loss of $82.64 million on $319,000 of
revenue for the 12 months ended Dec. 31, 2010, compared with a net
loss of $82.64 million on $80,000 of total revenue during the same
period in 2009.

The Company's balance sheet at March 31, 2011 showed
$60.92 million in total assets, $43.11 million in total
liabilities, $13.46 million in common stock purchase warrants and
$4.35 million total shareholders' equity.

Marcum LLP, in San Francisco, Calif., expressed substantial doubt
about the Company's ability to continue as a going concern in its
audit reports for the financial statements for 2009 and 2010.  The
independent auditors noted that the Company has incurred losses
since its inception, and has a working capital deficiency of
approximately $14.2 million at Dec. 31, 2010.


CHIPPEWA COUNTY: S&P Puts BB Rating on $4MM Bonds on Watch Neg.
---------------------------------------------------------------
Standard & Poor's Ratings Services placed its 'BB' long-term
rating on the Chippewa County Hospital Finance Authority, Mich.'s
$4 million series 1997B hospital revenue bonds issued for
Chippewa County War Memorial Hospital (War Memorial) on
CreditWatch with negative implications.

The CreditWatch placement reflects the impending refunding of the
series 1997B bonds and War Memorial's remaining debt with a $21
million U.S. Department of Agriculture loan approved in April
2011.

"The negative implications reflect War Memorial's continued
decline in liquidity from already weak levels, as well as a sharp
increase in debt from the purchase of a medical office and
rehabilitation building," said Standard & Poor's credit analyst
Avanti Paul.

"Although management reports that the funds from the USDA loan
will be available by the end of September 2011, if the series
1997B bonds are not refunded within the next three months we are
highly likely to lower the rating to the 'B' category," S&P
related.


CONSECO FINANCE: App. Ct. Reverses Ruling in Travis County Suit
---------------------------------------------------------------
Green Tree Servicing, LLC, as authorized servicing agent for
Conseco Finance Servicing Corporation, appeals a post-answer
default judgment rendered against it in a suit for ad valorem
taxes assessed on 10 mobile homes by Travis County, the Austin
Independent School District, the City of Austin, Austin Community
College, Pflugerville Independent School District, Del Valle
Independent School District, and Travis County Emergency Services
District Nos. 2 and 11.  In an Aug. 31, 2011 Memorandum Opinion,
the Court of Appeals of Texas, Third District, in Austin, reversed
the trial court's judgment and remanded the cause for a new trial,
saying the trial court abused its discretion by failing to grant
Green Tree's motion for new trial and by allowing it to be
overruled by operation of law.  The appellate case is, Green Tree
Servicing, LLC, as authorized servicing agent for Conseco Finance
Servicing Corporation, Appellant, v. Travis County, et al.,
Appellees, No. 03-10-00709-CV (Tex. App. Ct.).  A copy of the
appeals court ruling is available at http://is.gd/RYQhaKfrom
Leagle.com.

Headquartered in Carmel, Indiana, Conseco, Inc. (NYSE: CNO) --
http://www.conseco.com/-- is the holding company for a group of
insurance companies operating throughout the United States that
develop, market and administer supplemental health insurance,
annuity, individual life insurance and other insurance products.
The Company became the successor to Conseco Inc. (Old Conseco), in
connection with the Company's bankruptcy reorganization which
became effective on Sept. 20, 2003.  CNO focuses on serving the
senior and middle-income markets.  The Company sells its products
through three distribution channels: career agents, professional
independent producers and direct marketing.


CORELOGIC INC: S&P Affirms BB Corporate, Gives Negative Outlook
---------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB' corporate
credit rating on CoreLogic Inc., and revised the outlook to
negative from stable. The outlook revision reflects the company's
decision to evaluate options to enhance shareholder value, and the
resulting uncertainty regarding the company's financial policies
and financial profile.

"Our corporate credit rating incorporates our expectation that
CoreLogic's leadership position in key markets will support
consistent profitability, and that leverage will remain in the 3x
area, despite lower expected earnings in fiscal 2011," said
Standard & Poor's analyst Martha Toll-Reed. "However, the
company's recent decision to evaluate options to enhance
shareholder value could jeopardize our assumptions," she added.
CoreLogic is the surviving company from the June 2010 spin-off of
First American Corp.'s financial services business.

"With last-12-month revenues in excess of $1.5 billion, CoreLogic
has operations in Business and Information Services (which
includes mortgage origination and default management services) and
Data and Analytics (which includes property and mortgage
securities information, and credit solutions). CoreLogic's fair
business risk profile reflects a strong position in fragmented
markets, offset by significant customer concentration (the
company's top 10 customers accounted for about 37% of 2010
revenues) and a limited track record as a standalone company.
Barriers to entry, which include the investment and expertise
CoreLogic requires to build the databases and analytics at the
core of the company's solutions, support the company's market
position," S&P stated.

CoreLogic's significant financial risk profile reflects its
vulnerability to economic and credit cycles, and diminished
revenue and earnings growth expectations in fiscal 2011. CoreLogic
has significant earnings exposure to mortgage origination and
servicing activity, which the Mortgage Bankers Assn. expects will
continue to decline in 2011. Revenues in the second quarter of
2011 were $409 million, down about 3% from the prior-year period
(adjusted for divestitures and joint ventures). "We expect annual,
adjusted EBITDA margins to remain in the low-20% area, with
support from cost-containment actions and growth in the Data and
Analytics segment. However, we expect the absolute level of EBITDA
to decline due to weakness in the Business and Information
Services segment. Adjusted debt to EBITDA was about 3x as of June
30, 2011," S&P noted.


CREEKSIDE BANK: Closed; Georgia Commerce Bank Assumes All Deposits
------------------------------------------------------------------
Georgia Commerce Bank of Atlanta, Ga., acquired the banking
operations, including all the deposits, of Patriot Bank of Georgia
in Cumming, Ga., and CreekSide Bank of Woodstock, Ga.  The two
banks were closed on Friday, Sept. 2, 2011, by the Georgia
Department of Banking and Finance, which appointed the Federal
Deposit Insurance Corporation as receiver.  To protect the
depositors, the FDIC entered into a purchase and assumption
agreement with Georgia Commerce Bank.

Patriot Bank of Georgia had one branch, and CreekSide Bank had two
branches.  Due to the Labor Day holiday, the three branches of the
two failed banks will reopen as branches of Georgia Commerce Bank
on Tuesday, Sept. 6.  Depositors of the two failed banks will
automatically become depositors of Georgia Commerce Bank.
Deposits will continue to be insured by the FDIC, so there is no
need for customers to change their banking relationship in order
to retain their deposit insurance coverage up to applicable
limits.

As of June 30, 2011, Patriot Bank of Georgia had around $150.8
million in total assets and $111.2 million in total deposits; and
CreekSide Bank had total assets of $102.3 million and total
deposits of $96.6 million.  In addition to assuming all of the
deposits of the two Georgia banks, Georgia Commerce Bank agreed to
purchase essentially all of their assets.

The FDIC and Georgia Commerce Bank entered into loss-share
transactions on the failed banks' assets.  The loss-share
transaction for Patriot Bank of Georgia covers $136.2 million of
its assets, and the loss-share transaction for CreekSide Bank
covers $69.2 million of its assets.  Georgia Commerce Bank will
share in the losses on the asset pools covered under the loss-
share agreements.  The loss-share transactions are projected to
maximize returns on the assets covered by keeping them in the
private sector.  The transactions also are expected to minimize
disruptions for loan customers.  For more information on loss
share, please visit:

http://www.fdic.gov/bank/individual/failed/lossshare/index.html

Customers with questions about the transaction should call the
FDIC toll-free: for Patriot Bank of Georgia customers, 1-800-323-
6111, and for CreekSide Bank customers, 1-800-238-8209.
Interested parties also can visit the FDIC's Web sites:

for Patriot Bank of Georgia,

http://www.fdic.gov/bank/individual/failed/patriot.html

and for CreekSide Bank,

http://www.fdic.gov/bank/individual/failed/creekside.html

The FDIC estimates that the cost to the Deposit Insurance Fund for
Patriot Bank of Georgia will be $44.4 million and for CreekSide
Bank, $27.3 million.  Compared to other alternatives, Georgia
Commerce Bank's acquisition of the two institutions was the least
costly resolution for the FDIC's DIF.

The closings are the 69th and 70th FDIC-insured institutions to
fail in the nation so far this year and the eighteenth and
nineteenth in Georgia.  The last FDIC-insured institution closed
in the state was First Southern National Bank, Statesboro on
Aug. 19, 2011.


CROWNROCK LP: S&P Assigns 'CCC+' Corporate Credit Rating
--------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'CCC+' corporate
credit rating to Midland, Texas-based CrownRock LP. The outlook is
developing.

"At the same time, we assigned a 'CCC' issue rating to CrownRock's
$150 million senior unsecured notes due 2016. We also assigned a
'5' recovery rating to the notes, indicating our expectation of a
modest (10% to 30%) recovery in the event of a payment default.
The company used proceeds from the transaction to repay existing
indebtedness and for general corporate purposes," S&P stated.

"The ratings on CrownRock reflect its weak liquidity relative to
projected spending, very aggressive capital spending required to
hold onto its acreage, a small reserve and production base, a high
percentage of risky undeveloped reserves, and reliance on one
basin -- the Wolfberry region of the Permian Basin -- for its
production growth and cash flows," said Standard & Poor's credit
analyst Marc Bromberg. The ratings also reflect an oil-weighted
reserve profile and competitive cost structure.

"The developing outlook reflects the potential that we could raise
or lower ratings depending on whether CrownRock is able to fund
its capital spending program beyond the first half of 2012. We
will look to reserve and production growth to assess the prospects
for FFO and liquidity, given that internally generated cash flows
and the borrowing base are closely tied to these measures. We
think that CrownRock will need to generate at least $150 million
in FFO in total in 2011 and 2012 to meet its capital spending
plans through the end of 2012. We could lower the ratings if the
company experiences production issues in the Wolfberry or if we
deem liquidity to be unable to support future capital spending
requirements," S&P stated.


DIABETES AMERICA: Oct. 5 Hearing on Liquidating Plan
----------------------------------------------------
Diabetes America, Inc., filed with the U.S. Bankruptcy Court for
the Southern District of Texas a Chapter 11 Plan of Liquidation
and accompanying Disclosure Statement dated August 19, 2011.

Under the Plan, the Debtor is selling substantially all of its
operating assets.  The Debtor has accepted an offer from EDG
Partners Fund II, L.P. for $4,750,000 cash plus the assumption of
up to $925,000 in certain postpetition accrued liabilities.  The
offer is subject to a court-approved bidding process that will
determine the highest and best offer.

Upon closing of the EDG Sale or an Alternative Sale, the sales
proceeds and all Excluded Assets will be vested in the Liquidating
Debtor and administered by an independent Plan Agent appointed by
the Bankruptcy Court.  An oversight committee appointed by the
Unsecured Creditors Committee will be created to oversee the Plan
Agent.

Under the Plan, the Plan Agent will use the sales proceeds to
satisfy Allowed Claims and Interests in accordance with the
Bankruptcy Code.  The Plan Agent will also be vested with
authority to (i) take such actions necessary to liquidate the
Liquidating Debtor's remaining assets; (ii) file claim objections;
(iii) make distributions and take such other actions  as provided
for under the Plan; and (iv) prosecute causes of action owned by
the Debtor's estate, including all claims and causes of action
arising under the Bankruptcy Code.  Once all distributions have
been made, the Plan Agent will file a final tax return and
dissolve the Liquidating Debtor.

The classification of claims and interests under the Plan are:

Administrative Claims             To be paid in full in cash.

Priority Tax Claims               To be paid in full in cash.

Class 1 Priority Non-Tax Claims   To be paid in full in cash.

Class 2 Metrobank Secured Claim   To be paid in full in cash.

Class 3 Other Secured Claims      Holders of Class 3 Claims will
                                   be receive either (1) proceeds
                                   of any Collateral sold
                                   securing the Allowed Class 3
                                   Claim after satisfaction of
                                   all superior liens; or (2) any
                                   unsold Collateral securing the
                                   Allowed Class 3 Claim.

Class 4 Apelles Claim             To the extent the Claim
                                   becomes an Allowed Secured
                                   Claim, Apelles will receive
                                   either proceeds of any
                                   Collateral sold under the Plan
                                   that secures the Apelles Claim
                                   after satisfaction of all
                                   superior liens or, any unsold
                                   Collateral securing the
                                   secured portion of the Apelles
                                   Claim.  To the extent any
                                   portion of the Claim becomes
                                   an Allowed General Unsecured
                                   Claim, the claim will receive
                                   their pro rata treatment with
                                   holders of Allowed Class 5
                                   Claims.

Class 5 General Unsecured Claims  Holders of Class 5 Claims will
                                   receive Available Cash pro
                                   rata to their allowed claims.

Class 6 Subordinated Claims       Holders of Class 6 Claims will
                                   receive a pro rata share of
                                   Available Cash up to the
                                   allowed amount of such Claim
                                   after payment of all Allowed
                                   Claims in the corresponding
                                   superior class.

Class 7 Equity Interests          Will be cancelled as of the
                                   Plan Effective Date

Class 8 Subordinated Equity       Will be cancelled as of the
         Interests                 Plan Effective Date

A confirmation hearing before the Honorable Marvin Isgur has been
scheduled for Oct. 5, 2011, at 10:00 a.m.  The deadline for filing
objections to confirmation of the Plan is Oct. 3, at 12:00 p.m.

A full-text copy of the Disclosure Statement is available for free
at http://bankrupt.com/misc/DIABETESAMERICA_Aug19DS.pdf

                     About Diabetes America

Houston, Texas-based Diabetes America, Inc., fka Diabetes Centers
of America, Inc., operates a network of 17 centrally-managed
medical clinics that provide comprehensive outpatient medical
care, primarily to patients with Type 1, Type 2 and Gestational
Diabetes.  The company's clinics are located in Texas and Houston
and generate 51,000 patient visits per year.

Diabetes America filed for Chapter 11 bankruptcy protection
(Bankr. S.D. Tex. Case No. 10-41521) on Dec. 21, 2010.  H. Joseph
Acosta, Esq., and Micheal W. Bishop, Esq., at Looper Reed &
McGraw, P.C., in Dallas; and Joshua Walton Wolfshohl, Esq., at
Porter Hedges, L.L.P., in Houston, represent the Debtor as
bankruptcy counsel.  Woodrock & Co. serves as investment banker.
The Debtor estimated its assets and debts at $10 million to
$50 million as of the Petition Date.

Judy A. Robbins, the U.S. Trustee for Region 7, appointed three
members to the Official Committee of Unsecured Creditors in
Diabetes America's Chapter 11 case.  The Committee has tapped
Butler, Snow, O'Mara, Stevens & Cannada, PLLC, as its counsel.


DOMINGO VILLAS: Case Summary & 16 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Domingo Villas Inc.
        11292 Los Alamitos Boulevard
        Los Alamitos, CA 90720

Bankruptcy Case No.: 11-22391

Chapter 11 Petition Date: September 1, 2011

Court: U.S. Bankruptcy Court
       Central District of California (Santa Ana)

Judge: Robert N. Kwan

Debtor's Counsel: William M. Burd, Esq.
                  BURD & NAYLOR
                  200 W. Santa Ana Boulevard, Suite 400
                  Santa Ana, CA 92701
                  Fax: (714) 708-3949
                  E-mail: wmburd@burd-naylor.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 16 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/cacb11-22391.pdf

The petition was signed by Dave Chamberlain, president.


DREIER LLP: Reaches Settlement With 360 Networks
------------------------------------------------
Brendan Pierson at New York Law Journal reports that
telecommunications company 360 Networks and a representative of
its creditors have settled their claims against the estate of
defunct law firm Dreier LLP, whose founder, Marc S. Dreier,
pleaded guilty in 2009 to running a massive Ponzi scheme.  360
Networks had retained Dreier LLP as its counsel while it was in
bankruptcy.

According to the report, part of the firm's role was to hold money
recovered from preference actions in escrow.  After Mr. Dreier's
arrest, it was revealed that no money was held in escrow.  The
newly reorganized 360 Networks filed a claim against Dreier LLP's
estate for the amount that should have been in its account-more
than $38 million.  A court-appointed representative of 360
Networks' creditors filed a claim for over $85 million.

The report says Sheila M. Gowan of Diamond McCarthy, the trustee
in charge of liquidating the estate, in turn filed a preference
action against 360 Networks, which received over $11 million from
Dreier accounts in the 90 days before the firm's bankruptcy.  Last
week, Ms. Gowan filed a motion in the U.S. Bankruptcy Court for
the Southern District, In re: Chapter 11 Dreier LLP, 08-15051,
asking for court approval of a settlement of both claims.  Under
the settlement, 360 Networks will drop its claim against the
estate and will pay the trustee $2.875 million in cash.

The report notes the 360 Networks' creditors' representative will
reduce his claim against the estate to $45 million.  Ms. Gowan
said in the motion that unsecured creditors, like the
representative, were expected to receive around 10 cents on the
dollar.

                         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.


DYLANS DANCE HALL: Files for Chapter 11, to Reopen Soon
-------------------------------------------------------
Dylans Dance Hall, Inc., owner of the Dylan's Dance Hall & Saloon
in Boulder Highway, Las Vegas, Nevada, filed a Chapter 11 petition
(Bankr. D. Nev. Case No. 11-24092) in its hometown on Sept. 1,
2011.

The Company disclosed liabilities of about $210,000.  Its only
assets are the trade name "Dylan's Dance Hall & Saloon" and it s
business license for a restaurant, amusement machines and valet
parking.  The value of those assets are "unknown", according to
the schedules.

Steve Green at Vegas Inc. reports that Dylan's has been closed
about 45 days for remodeling but will reopen soon with new
management, according to owner Bob Lannon.

Mr. Lannon, Vegas Inc. relates, said the bankruptcy was caused by
declining business and the need to install a new management team
and that he's confident business will improve once the club is up
and running again.  "That's the plan, to get the business back on
its feet," he said, adding Dylan's has key attributes needed for
success as a nightclub.

In its bankruptcy filing, signed by Mr. Lannon, Dylan's listed
losses of $75,000 so far this year, more than $67,000 in 2010 and
more than $88,000 in 2009.

The Debtor is represented by:

         Roger P. Croteau, Esq.
         720 S 4th Street Suite 202
         Las Vegas, NV 89101
         Tel: (702) 254-7775
         Fax: (702) 228-7719
         E-mail: croteaulaw@croteaulaw.com


EAGLE CROSSROADS: Case Summary & 19 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Eagle Crossroads Center, LLC
        12100 Wilshire Boulevard, Suite 500
        Los Angeles, CA 90025

Bankruptcy Case No.: 11-23749

Chapter 11 Petition Date: August 30, 2011

Court: U.S. Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Bruce T. Beesley

Debtor's Counsel: Thomas H. Fell, Esq.
                  GORDON SILVER
                  3960 Howard Hughes Parkway, 9th Floor
                  Las Vegas, NV 89169
                  Tel: (702) 796-5555
                  Fax: (702) 369-2666
                  E-mail: tfell@gordonsilver.com

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

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

The petition was signed by Brian Good, authorized agent.

Debtor's List of 19 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Bank of America, N.A.              6464 Decatur        $50,921,902
Trustee - Morgan Stanley Capital   Boulevard,
I, et al                           N. Las Vegas, NV
100 N. City Parkway, Suite 1750
Las Vegas, NV 89106

City of North Las Vegas            Services Provided        $8,471
2829 Fort Sumter Drive
N. Las Vegas, NV 89030

Malco Nevada, Inc.                 Services Provided        $6,345
5051 E. Orangethorpe Avenue, #E-259
Anaheim, CA 92807

Dapper Properties                  Services Provided        $5,540

NV Energy                          Services Provided        $2,802

Ace Fire Systems, Inc.             Services Provided        $2,753

Blue & Green                       Services Provided        $2,374

Simple Waste Solutions             Services Provided        $1,002

Precision Plumbing, Inc.           Services Provided          $900

Republic Services                  Services Provided          $864

Liberty Mechanical Service         Services Provided          $675

Santoro, Driggs et. al.            Services Provided          $649

Vegas Valley Electrical Service    Services Provided          $478

City of North Las Vegas - FIRE     Services Provided          $449

Enviro Safe Pest Control           Services Provided          $220

Stanley Convergent Security        Services Provided          $156
Solutions

Henderson Lock & Key               Services Provided          $107

Southwest Gas Corporation          Services Provided           $83

Century Link                       Services Provided           $64


EAST WILLIAMSBURG: Case Summary & 3 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: East Williamsburg LLC
        846 St. Johns Place, 2nd Floor
        Brooklyn, NY 11216

Bankruptcy Case No.: 11-47503

Chapter 11 Petition Date: August 31, 2011

Court: U.S. Bankruptcy Court
       Eastern District of New York (Brooklyn)

Judge: Carla E. Craig

Debtor's Counsel: Richard Tanenbaum, Esq.
                  44 Court Street, Suite 917
                  Brooklyn, NY 11201
                  Tel: (347) 291-1776
                  Fax: (866) 413-9205
                  E-mail: nybankruptcy@gmail.com

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

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

A list of the Company's three largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/nyeb11-47503.pdf

The petition was signed by Solomon Steinlauf, president.


EDWARD YODER: Monarch Ex-CEO Has $2.7MM in Assets, $4MM in Debts
----------------------------------------------------------------
Tom Shean at the Virginian-Pilot reports that Edward O. Yoder,
former president and CEO of Monarch Mortgage, has submitted a list
of $4 million in liabilities, including $2.5 million of unsecured
claims involving a real estate project, as part of a bankruptcy
petition he filed in July.

According to the report, Mr. Yoder also filed a schedule of assets
amounting to $2.74 million with his Chapter 11 filing in U.S.
Bankruptcy Court in Norfolk.  These included a Virginia Beach home
valued at slightly more than $1 million and investments, savings,
household items and other personal property valued at $1.7
million, according to the Aug. 22 filing.

Mr. Yoder sought bankruptcy protection from creditors in July,
just days before two lawsuits brought by Bank of Hampton Roads
were scheduled to go to trial in Virginia Beach Circuit Court.
The Norfolk-based bank said it was seeking to recover loans made
to a Manteo, N.C., development partnership that Yoder personally
guaranteed. The suits have since been moved to the bankruptcy
court.

The report relates that the amount of unsecured claims against
Mr. Yoder was reduced to $2.89 million from $5.29 million because
two bank loans were counted twice in his initial filing, said
Kevin J. Funk, his lawyer.

The Virginian-Pilot says Mark France, Mr. Yoder's co-debtor on the
Bank of Hampton Roads loans to Down East Equity Partnership, also
provided personal guarantees on the loans, according to court
filings.  France, of Manteo, is managing partner and has a 50
percent stake in Down East.  The loans were made by Gateway Bank &
Trust Co., which Hampton Roads Bankshares Inc. acquired in late
2008 and folded into Bank of Hampton Roads.

               U.S. Trustee Objection to Counsel

The report notes, separately, the Office of the U.S. Trustee, an
arm of the Justice Department that oversees administration of
bankruptcy cases, objected to a law firm's request to continue
representing Mr. Yoder in his bankruptcy.  The firm, DuretteCrump
of Richmond, also represents Yoder, France and the Down East
partnership in the suits brought by Bank of Hampton Roads.

Mr. Yoder's estate and France appear to have claims against Down
East, and Yoder's estate appears to have a separate claim against
the bank, Down East and perhaps France, the U.S. Trustee said in
its objection.  Because of the apparent conflict, DuretteCrump
cannot act completely in Yoder's interest while it also represents
France and Down East, it contended.

Edward O. Yoder sought Chapter 11 bankruptcy protection (Bankr.
E.D. Va. Case No. 11-73305) on July 21, 2011.


ELITE PHARMACEUTICALS: Amends Certificates of Designations
----------------------------------------------------------
Elite Pharmaceuticals, Inc., filed Company Certificates of
Correction with the Secretary of State for the State of Delaware
to correct certain inaccuracies included in the Amended
Certificate of Designations on its Series B and Series C
Convertible Preferred Stock, filed with the  Secretary of State of
the State of Delaware on Aug. 12, 2011.  The Holders of a majority
of the shares of the Preferred Stock voting as one class had
consented to the said amendments.

Section 3(a)(iv) of the Certificate as originally filed with the
Secretary of State on Aug. 12, 2011, provides that "if the funds
are not legally available for the payment of dividends and the
Equity Condition relating to an effective Conversion Shares
Registration Statement has been waived by such Holder, as to such
Holder only, in unregistered shares of Common Stock which will be
valued solely for that purpose at 95% of the VWAPs for the 20
consecutive Trading Days ending on the Trading Day that is
immediately prior to the Dividend Payment Date."   Section
3(a)(iv) as corrected does not require the waiver by the Holder of
the Equity Condition relating to an effective Conversion Shares
Registration Statement for the corporation to satisfy its
dividend obligations by issuing unregistered shares.

Section 3(a)(v) of the Certificate as originally filed with the
Secretary of State on Aug. 12, 2011, provides that "if funds are
not available for the payment of dividends and the Equity
Conditions have not been met during the 20 consecutive Trading
Days immediately prior to the applicable Dividend Payment Date,
then those dividends will accrue to the next Dividend  Payment
Date."  Section 3(a)(v) as corrected eliminates this provision in
its entirety.

Section 3(a) of the Certificate as originally filed with the
Secretary of State on Aug. 12, 2011, provides that "the
Corporation will promptly notify the Holders at any time the
Corporation will become unable, as the case may be, to legally pay
cash dividends.  If at any time the Corporation has the right to
pay dividends in cash or Common Stock, the Corporation must
provide the Holder with at least 20 Trading Days' notice of its
election to pay a regularly scheduled dividend in Common Stock.
Section 3 (a) as corrected eliminates this obligation on the part
of the Corporation.

A full-text copy of the Certificate of Correction is available for
free at http://is.gd/Ud700f

                     About Elite Pharmaceuticals

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

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

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

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


EVERGREEN ENERGY: Inks $750,000 Settlement with Insurance Carrier
-----------------------------------------------------------------
Evergreen Energy Inc. filed a suit against its directors and
officers insurance carrier in Evergreen Energy Inc. v. ACE
American Insurance Company, United States District Court for the
District of Colorado, Case No. 1:11CV01700, in an attempt to
secure coverage related to the Cook and Bitonti litigation which
was recently settled.

On Aug. 30, 2011, the Company and the director and officers
insurance carrier entered into a Settlement Agreement pursuant to
which the parties agreed to enter into a release agreement, the
carrier will pay the Company $750,000 within 10 business days of
execution of the release, and upon payment in full, the Company
will dismiss the suit against the carrier.  The parties anticipate
entering into the release agreement on Sept. 1, 2011.

                       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.


FAIRCHILD MANOR: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Fairchild Manor Nursing Home, LLC
        2302 Wehrle Drive
        Williamsville, NY 14221

Bankruptcy Case No.: 11-13013

Chapter 11 Petition Date: August 30, 2011

Court: U.S. Bankruptcy Court
       Western District of New York (Buffalo)

Judge: Michael J. Kaplan

Debtor's Counsel: Arthur G. Baumeister, Jr., Esq.
                  AMIGONE, SANCHEZ, MATTREY & MARSHALL LLP
                  1300 Main Place Tower
                  350 Main Street
                  Buffalo, NY 14202
                  Tel: (716) 852-1300
                  E-mail: abaumeister@amigonesanchez.com

Scheduled Assets: $578,977

Scheduled Debts: $7,144,722

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/nywb11-13013.pdf

The petition was signed by Marc Korn, managing member.


FENTURA FINANCIAL: Randy Hicks Appointed to Board of Directors
--------------------------------------------------------------
Fentura Financial, Inc., on Aug. 25, 2011, announced the
appointment of Dr. Randy D. Hicks to the Board of Directors of the
Company as well as the wholly owned subsidiary, The State Bank.
Dr. Hicks is a graduate of Kalamazoo College and the Michigan
State University College of Human Medicine.  He is the founder and
President of Regional Medical Imaging, P.C., which provides
radiology services to mid-Michigan area hospitals, clinics,
physicians, and individuals.  He has been a keynote speaker at
various health care conferences and has published several medical
research papers.  Having also achieved a Masters degree in
Business Administration, Dr. Hicks has also been involved in
various commercial real estate ventures throughout his career.

                      About Fentura Financial

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

As reported in the Troubled Company Reporter on March 22, 2010,
Crowe Horwath LLP, in Grand Rapids, Mich., expressed substantial
doubt about the Company's ability to continue as a going concern,
following its 2009 results.  The independent auditors noted that
the Company incurred net losses in 2009 and 2008, primarily from
higher provisions for loan losses, and non-compliance with the
higher capital requirements of the Consent Orders.

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

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

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


FIDDLER'S CREEK: Secured $6.3MM of DIP Financing for August
-----------------------------------------------------------
Judge K. Rodney May of the U.S. Bankruptcy Court for the Middle
District of Florida entered its ninth interim order allowing
Fiddler's Creek, LLC, et al., to obtain secured postpetition
financing of up to $6,305,659, when combined with the borrowings
earlier authorized by the Court, from Gulf Bay Capital, Inc., the
DIP Lender, for the four-week period from August 1 to 30, 2011.

In their original request for DIP financing, the Debtors sought
authority to borrow up to $25,000,000.  At the most recent
hearing, the Court only considered the Debtors' request to
borrow up to approximately $6,305,659 in accordance with the ninth
interim budget.

                     About Fiddler's Creek

Fiddler's Creek, LLC, and its affiliates each owns, operates or is
otherwise affiliated with the premier, fully integrated, master
planned residential community known as "Fiddler's Creek" in
southwestern Florida.  Fiddler's Creek is located in Collier
County, Florida, approximately 12 miles southeast of the city of
Naples and six miles north of Marco Island.  The Fiddler's Creek
development is comprised of nearly 4,000 zoned acres of prime land
in Naples, Florida, and is planned for and capable of
accommodating up to 6,000 residences upon projected build-out,
which is estimated to be in 2020.  Fiddler's Creek contains five
distinctive neighborhoods known as: Fiddler's Creek, Veneta,
Aviamar, Marsh Cove and Meadow Run.

Fiddler's Creek filed for Chapter 11 bankruptcy protection (Bankr.
M.D. Fla. Case No. 10-03846) on Feb. 23, 2010.  Paul J. Battista,
Esq., Heather L. Harmon, Esq., and Mariaelena Gayo-Guitian, Esq.,
at Genovese Joblove & Battista, P.A., Miami; Bart A. Houston,
Esq., at Kopelowitz Ostrow; and Mark Woodward, Esq., serve as
counsel to the Debtors.  Judge Alexander L. Paskay presides over
the case.  The Company estimated assets and debts at $100 million
to $500 million.

Paul S. Singerman, Esq., Jordi Guso, Esq., and Debi Evans Galler,
Esq., at Berger Singerman P.A., represent the Official Unsecured
Creditors Committee as counsel.

At the end of August 2011, Fiddler's Creek LLC was given formal
approval for its Chapter 11 plan following an eight-day
confirmation hearing.  The Plan incorporates agreements with the
official creditors' committee, an ad hoc group of homeowners, and
two lenders, Regions Bank NA and Fifth Third Bank.


FIRST MARINER: Request for Continued NASDAQ Listing Denied
----------------------------------------------------------
First Mariner Bancorp announced that it received notice from the
NASDAQ Stock Market that its request for continued listing on
NASDAQ was denied.  NASDAQ's determination followed an appeal by
the Company of NASDAQ's initial delisting determination to a
NASDAQ Listing Qualifications Panel on Aug. 25, 2011.  NASDAQ's
determination was based on the Company's failure to comply with:
(1) NASDAQ Listing Rule 5450(b), which requires maintenance of a
minimum of $2.5 million in shareholders' equity; and (2) NASDAQ
Listing Rule 5450(a)(1), which requires maintenance of a minimum
bid price of $1.00 per share.

The Company said the delisting from NASDAQ in no way affects its
daily operations or any of its branches.

Effective Sept. 1, 2011, 1st Mariner Bancorp's stock will begin
trading on the Over The Counter Bulletin Board.  Quotations for
the Company's stock can be found under the symbol FMAR.OB.

Shareholders may contact Paul Susie, the Company's Chief Financial
Officer, with any questions regarding the move to the OTC.

                        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.


FIRST STREET: Case Summary & 12 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: First Street Holdings NV, LLC
        6114 La Salle Avenue, #471
        Oakland, CA 94611

Bankruptcy Case No.: 11-49300

Chapter 11 Petition Date: August 30, 2011

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

Judge: Roger L. Efremsky

Debtor's Counsel: Iain A. Macdonald, Esq.
                  MACDONALD AND ASSOCIATES
                  221 Sansome Street, Third Floor
                  San Francisco, CA 94104
                  Tel: (415) 362-0449
                  E-mail: iain@macdonaldlawsf.com

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

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

The petition was signed by Graham Seel, SVP of CMR Capital, LLC,
manager.

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Lydian SF Holdings, LLC               11-49301            08/30/11

Debtor's List of 12 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Orrick, Herrington & Sutcliffe LLP Legal Fees              $56,970
P.O. Box 39000
San Francisco, CA 94139

Reuben & Junius, LLP               Legal Fees              $45,921
1 Bush Street, Suite 600
San Francisco, CA 94104

Stein & Lubin LLP                  Legal Fees              $38,788
600 Montgomery Street, 14th Floor

Heller Manus Architects            Architect Fees          $35,000

Eastdil Secured Broker Services,   Marketing Costs         $23,846
Inc.                               Reimbursement

Bank of America                    Bank Fees                $8,762

Reuben & Alter, LLP                Legal Fees               $3,225

Colliers International             Marketing Costs          $3,000
                                   Reimbursement

Wendel, Rosen, Black & Dean LLP    Legal Fees                 $610

CT Corp.                           Registered Agent Fees      $254

San Francisco Tax Collector        Real Property Taxes        $119

City of San Francisco              Filing Fees                 $58


FLEXERA SOFTWARE: Cut to 'B' Corporate by S&P; Outlook Stable
-------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Schaumburg, Ill.-based Flexera Software Inc. to 'B' from
'B+' and removed it from CreditWatch, where it was placed with
negative implications on July 20, 2011. The outlook is stable.

"At the same, we assigned a 'B' issue-level rating and a '3'
recovery rating to Flexera's proposed $25 million senior secured
revolving credit facility due 2016 and $230 million first-lien
term loan due 2017. The '3' recovery rating indicates our
expectations for meaningful (50%-70%) recovery for lenders in
the event of a payment default," S&P related.

"We also assigned a 'CCC+' issue-level rating and a '6' recovery
rating to Flexera's proposed $100 million second-lien term loan
due 2018. The '6' recovery rating indicates our expectations for
negligible (0%-10%) recovery for lenders in the event of a payment
default. The company intends to use the proceeds to partly finance
its acquisition by Ontario Teachers' Pension Plan and to repay
existing debt," S&P said.

"The rating on Flexera reflects our view that the company's highly
leveraged financial profile and its private-equity ownership
structure are likely to preclude sustained deleveraging," said
Standard & Poor's credit analyst Andrew Chang. "We consider
Flexera's business risk profile weak, reflecting its narrow
product focus and modest scale."

"Nevertheless," added Mr. Chang, "we expect that the company's
diverse customer base and good revenue visibility will support
moderate revenue growth and consistent free cash flow generation
in the near term."


GREAT ATLANTIC & PACIFIC: Has Until Jan. 16 to File Plan
--------------------------------------------------------
The Hon. Robert D. Drain of the U.S. Bankruptcy Court for the
Southern District of New York extended the exclusive periods of
the Great Atlantic & Pacific Tea Company Inc. and its debtor-
affiliates to:

   a) file a Chapter 11 plan through and including Jan. 16, 2012;
      and

   b) solicit acceptances of that plan until March 16, 2012.

                 About Great Atlantic & Pacific

Founded in 1859, Montvale, New Jersey-based Great Atlantic &
Pacific is a supermarket retailer, operating under a variety of
well-known trade names, or "banners" across the mid-Atlantic and
Northeastern United States.  Before filing for bankruptcy in 2010,
A&P operated 429 stores in 8 states and the District of Columbia
under the following trade names: A&P, Waldbaum's, Pathmark,
Pathmark Sav-a-Center, Best Cellars, The Food Emporium, Super
Foodmart, Super Fresh and Food Basics.  A&P had 41,000 employees
prior to the bankruptcy filing.

A&P and its affiliates filed Chapter 11 petitions (Bankr. S.D.N.Y.
Case No. 10-24549) on Dec. 12, 2010 in White Plains, New York.  In
its petition, A&P reported total assets of $2.5 billion and
liabilities of $3.2 billion as of Sept. 11, 2010.

Paul M. Basta, Esq., James H.M. Sprayregen, Esq., and Ray C.
Schrock, Esq., at Kirkland & Ellis, LLP, in New York, and James J.
Mazza, Jr., Esq., at Kirkland & Ellis LLP, in Chicago, Illinois,
serve as counsel to the Debtors.  Kurtzman Carson Consultants LLC
is the claims and notice agent.  Lazard Freres & Co. LLC is the
financial advisor.  Huron Consulting Group is the management
consultant.  Dennis F. Dunne, Esq., Matthew S. Barr, Esq., and
Abhilash M. Raval, Esq., at Milbank, Tweed, Hadley & McCloy LLP,
represent the Official Committee of Unsecured Creditors.

A&P obtained court approval for a new contract with C&S Wholesale
Grocers Inc., its principal supplier.  The contract is designed to
save A&P $50 million a year when the supermarket operator emerges
from Chapter 11 reorganization.

A&P sold postpetition 12 Super-Fresh stores in the Baltimore-
Washington area for $37.83 million, plus the value of inventory.
Thirteen other locations didn't attract buyers at auction and were
closed mid-July 2011.


GGIS INSURANCE: Case Summary & 7 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: GGIS Insurance Services, Inc.
          dba Guardian General Insurance Services
        2550 N. Hollywood Way, Suite 120
        Burbank, CA 91505

Bankruptcy Case No.: 11-47233

Chapter 11 Petition Date: August 31, 2011

Court: U.S. Bankruptcy Court
       Central District of California (Los Angeles)

Judge: Sheri Bluebond

Debtor's Counsel: Michael T. Stoller, Esq.
                  MICHAEL T. STOLLER, APC
                  23945 Calabasas Road, Suite 104
                  Calabasas, CA 91302
                  Fax: (818) 226-4044

Estimated Assets: $0 to $50,000

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

A list of the Company's seven largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/cacb11-47233.pdf

The petition was signed by Richard J. Acunto, chief executive
officer.


HARRISBURG, PA: Fate Now In The Hands Of Pennsylvania's Governor
----------------------------------------------------------------
Dow Jones' DBR Small Cap reports that having rejected Mayor Linda
Thompson's financial recovery plan, the Harrisburg, Pa., city
council has opened the door for Pennsylvania Gov. Tom Corbett to
make good on his threat to have the state take over the finances
of its capital city, which faces $300 million in debt over a
failed trash incinerator project.

American Bankruptcy Institute reports that Pennsylvania's capital
of Harrisburg on Thursday rejected a rescue plan designed to
address its debt crisis in a move that could prompt a state
takeover of its finances.

                  About Harrisburg, Pennsylvania

The city of Harrisburg is coping with debt related to a failed
revamp of an incinerator.  The outstanding principal on the
Incinerator debt is $288 million.  Total principal and interest on
this debt would amount to approximately $458 million.  Debt
service payments on the total incinerator debt are $20 million per
year.  Of this total, Dauphin County, Pennsylvania, is responsible
for roughly $10 million and Harrisburg is responsible for the
other $10 million.   The city is guarantor on 100% of the
$288 million Incinerator debt.

The City Council of Harrisburg, Pennsylvania, voted 5-2 on
September 28 to seek professional advice on bankruptcy or state
oversight.  Harrisburg needed state aid to avoid default on $3.3
million of bond payments this month.

The city has missed about $8 million in debt-service payments this
year on bonds issued in connection with a trash-to-energy
incinerator.  The city owes another $40 million by the end of the
year, and was sued by its home county Dauphin County; bond insurer
Assured Guaranty Municipal Corp., a unit of Assured Guaranty Ltd.;
and bond trustees TD Bank and M&T Bank Corp. over $19 million in
skipped bond payments.


HERITAGE CONSOLIDATED: Had Approval for Cash Use for August
-----------------------------------------------------------
Heritage Consolidated, LLC, and Heritage Standard Corporation,
together with the Official Committee of Unsecured Creditors,
entered into a stipulation extending the Debtors' use of cash
collateral through Aug. 31, 2011.

                   About Heritage Consolidated

Heritage Consolidated LLC is a privately held company whose core
operations consist of exploration for, and acquisition,
production, and sale of, crude oil and natural gas.

Heritage Consolidated filed a Chapter 11 petition (Bankr. N.D.
Tex. Case No. 10-36484) on Sept. 14, 2010, in Dallas, Texas.
Its affiliate, Heritage Standard Corporation, also filed for
Chapter 11 protection (Bankr. N.D. Tex. Case No. 10-36485).  Kevin
D. McCullough, Esq., in Dallas, Texas, serves as counsel to the
Debtors.  The Debtors each estimated assets and debts of $10
million to $50 million.


HORIZN VILLAGE: Court Approves Gordon Silver as Bankr. Counsel
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Nevada authorized
Horizon Village Square LLC, Ten Saints LLC, Beltway One
Development Group LLC, and Nigro HQ LLC to employ Gordon Silver as
bankruptcy counsel.

According to the Troubled Company Reporter on July 28, 2011,
Gordon Silver has represented the Debtors in connection with
financial restructuring efforts since June 2010.  Since June 2010,
Beltway One has paid Gordon Silver $19,194.37 for legal services
rendered in connection with its restructuring.  The firm is also
currently holding $24,011 as retainer.

Gordon Silver's hourly rates are:

          $130 to $175 per hour for paraprofessionals,
          $185 to $350 per hour for associates, and
          $455 to $700 per hour for shareholders

Mr. Gordon attests that Gordon Silver and its shareholders and
associates do not hold or represent any interest adverse to the
Debtors' estate, and Gordon Silver and its shareholders and
associates are "disinterested persons" within the meaning of
Sections 101(14) and 327 of the Bankruptcy Code, as modified by
Section 1107(b).

The firm can be reached at:

          Gerald M. Gordon, ESQ.
          Talitha Gray Kozlowski, Esq.
          Candace C. Clark, Esq.
          GORDON SILVER
          3960 Howard Hughes Pkwy., 9th Floor
          Las Vegas, Nevada 89169
          Telephone: (702) 796-5555
          Facsimile: (702) 369-2666
          E-mail: ggordon@gordonsilver.com
                  tgray@gordonsilver.com
                  cclark@gordonsilver.com

                About Horizon Village Square et al.

Four related Las Vegas, Nevada-based entities sought Chapter 11
bankruptcy protection on July 13, 2011.  The businesses are owned
or managed by local business people and firms, including Todd
Nigro, Nigro Development LLC, a Nigro family trust and other
investors.

Horizon Village Square LLC (Bankr. D. Nev. Case No. 11-21034) owns
the Vons-anchored Horizon Village Square Shopping Center near I-
515 and Horizon Drive in Henderson.  The property includes five
retail buildings with nearly 43,000 square feet of space.

Ten Saints LLC (Bankr. D. Nev. Case No. 11-21028) owns the 134-
room Hampton Inn & Suites at St. Rose Parkway and Seven Hills
Drive in Henderson.

Beltway One Development Group LLC (Bankr. D. Nev. Case No. 11-
21026) owns the Desert Canyon Business Park at Russell Road and
the Las Vegas Beltway. It has two buildings and 15 acres.

Nigro HQ LLC (Bankr. D. Nev. Case No. 11-21014) owns an office
building at 9115 W. Russell Road occupied by Bank of George,
Infinity Plus LLC and Nigro Construction Inc.

Todd Nigro said the four bankruptcies were caused by threatened
foreclosures -- typically related to Wells Fargo Bank demanding
payments to keep loan-to-value ratios at specified levels.

Judge Mike K. Nakagawa presides over the cases.  Lawyers at Gordon
Silver serve as the Debtors' bankruptcy counsel.  The bankruptcy
petitions estimated assets and debts from $1 million to $10
million each for Nigro HQ; and from $10 million to $50 million in
both assets and debts for Horizon Village, Ten Saints and Beltway
One.

A fifth-related business, Russell Boulder LLC, filed for
bankruptcy (Bankr. D. Nev. Case No. 10-29724) on Oct. 19, 2010.
It owns the 600-suite Siena Suites extended stay property at
Boulder Highway and Russell Road.


HOVENSA LLC: S&P Lowers Rating on First-Lien Facility to 'B'
------------------------------------------------------------
Standard & Poor's Ratings Services lowered its debt rating on
HOVENSA LLC's $400 million first-lien revolving credit facility
due 2011/2012 and its $355.7 million in tax-exempt debt issued
by the U.S. Virgin Islands and the Virgin Islands Public Finance
Authority to 'B' from 'BB-'. The outlook remains negative. The '1'
recovery rating, which remains unchanged, indicates that lenders
can expect a very high (90%-100%) recovery if a payment default
occurs.

HOVENSA is a 350,000 barrel per day (bpd) crude oil refiner
located in St. Croix. It is jointly owned by Hess Corp.
(BBB/Stable/--) and Petroleos de Venezuela S.A. (PDVSA;
B+/Stable/--).

The project has completed a reduction in capacity to 350,000 bpd
from 500,000 bpd to improve operational efficiency and
reliability, which could in turn increase margins by up to a
dollar per barrel. "However, we believe HOVENSA's financial
profile will continue to be pressured by low margins and negative
project cash flows through at least 2013," S&P related.

"Our expectation assumes a weak refining environment for
facilities processing Brent-priced crude, high fuel and operating
expenses, and large capital spending requirements," said Standard
& Poor's credit analyst Mark Habib.

With negative cash flow and internal liquidity short of
requirements, HOVENSA's stand-alone profile is consistent with a
low 'B' or high 'CCC' category rating. However, HOVENSA's project
rating reflects an expectation of support from its parents over
the short term due to its moderately strategic
importance.

"The negative outlook reflects our expectation of negative project
cash flow through 2013 due to a weak refining environment and the
facility's cost structure, and HOVENSA's reduced liquidity as cash
balances have fallen, the revolver matures, and parent support
requirements increase. We anticipate that poor market conditions
combined with high levels of required capital spending will keep
the project's debt service coverage below zero through 2013," S&P
stated.

"HOVENSA benefits from our assumption that the project's parents
are likely to assist it with liquidity over the short term. If
parent support is scaled back or withdrawn, or turns out to be
inadequate due to worse-than-expected refining margins, we could
lower the rating. If HOVENSA can weather the current downturn and
rebuild its liquidity position to pre-2008 levels, we could
revise the negative outlook to stable or raise the rating," S&P
added.


IMH FINANCIAL: $50-Mil. Funding Paves Way for Recovery, Growth
--------------------------------------------------------------
IMH Financial Corporation sent a letter to its shareholders
regarding the Company's recent events and initiatives undertaken.
The Company views the completion of the $50 million financing with
NWRA Ventures I, LLC, and the hiring of New World Realty Advisors,
LLC, as its turning point.  The Company said it now has the
capital and the enhanced resources to set a course for recovery
and growth.  The Company has five major strategic goals to pursue
as it moves forward:

   (1) To achieve greater operating efficiency through a reduction
       of operating expenses and other costs.

   (2) To increase revenues through the deployment of capital into
       accretive investments.

   (3) To enhance value in our legacy assets that it sees as
       having significant potential, through repositioning or
       development.

   (4) To dispose of non-income producing loans and REO assets
       that do not have near-term prospects for appreciation and
       sell them based on terms that are more reflective of the
       Company's new financial strength and negotiating power.

   (5) To pursue liquidity for the Company's shareholders, both in
       the form of dividend distributions and through the creation
       of liquidity in the Company's shares.

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

                         http://is.gd/gMKl3s

                         About IMH Financial

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

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

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

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

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

As reported by the TCR on April 20, 2011, BDO USA, LLP, in
Phoenix, Arizona, expressed substantial doubt about the Company's
ability to continue as a going concern.  The independent auditors
noted that the Company has suffered recurring losses and is not
currently generating sufficient cash flows to sustain operations


INNER CITY: Senior Lenders Want to Restrict Use of Cash Collateral
------------------------------------------------------------------
Creditors who signed the involuntary Chapter 11 petition for Inner
City Media Corp., namely 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., ask the Court for entry of an order
conditioning the use of cash proceeds generated from operations
and contained in certain deposit accounts by Inner City and its
affiliates.

The Petitioning Creditors tells the Court that the Alleged Debtors
and the chairman of their ultimate parent company are continuing
a pattern of reckless and disturbing behavior that forced the
Petitioning Creditors to file involuntary chapter 11 petitions
against the Alleged Debtors.

This course of conduct, according to the Petitioning Creditors,
has been orchestrated by Pierre "Pepe" Sutton, the chairman of the
Alleged Debtors' parent company, Inner City Broadcasting
Corporation (ICBC).  They claim that Mr. Sutton has used the
Alleged Debtors to enrich himself and continues to use his power
over them to frustrate a necessary and appropriate restructuring
of the Alleged Debtors' financial obligations.  According to the
creditors, Mr. Sutton and ICBC continue to exercise untoward
control over the Alleged Debtors, forcing the Alleged Debtors to
put the interests of ICBC ahead of the Alleged Debtors' creditors,
to whom the Alleged Debtors owe fiduciary duties given the Alleged
Debtors' obvious insolvency.  This allegedly includes using ICBC
funds to pay hefty retainers to the Alleged Debtors' newly hired
restructuring counsel.

The Petitioning Creditors believe that so long as Mr. Sutton
remains in a position of power over the Alleged Debtors, the
Senior Lenders' interests in the Alleged Debtors are imperiled.


To prevent further harm to the Senior Lenders' rights until this
Court can determine whether orders for relief should be entered,
the Senior Lenders request certain restrictions on the Alleged
Debtors' use of cash proceeds of the Senior Lenders' collateral.
Specifically, the Senior Lenders request that until an order for
relief is entered, the Alleged Debtors be prohibited from making:

     -- any transfer of cash directly to, or for the benefit of,
        ICBC or any officer, director or equityholder of ICBC;

     -- any payment of the fees or expenses of any professional
        retained in whole or in part by ICBC or who is performing
        work for, or for the benefit of, ICBC;

     -- any expenditure on account of salary, life insurance
        policies or other fringe benefits for Pepe Sutton,
        particularly until it can be determined whether Mr.
        Sutton's extremely high compensation is justifiable, and
        whether the Alleged Debtors - as opposed to ICBC - obtain
        any benefit for the expense;

     -- any expenditure on life insurance policies for any
        employee of the Alleged Debtors;

     -- any expenditure for corporate communications specialists
        providing services regarding the involuntary chapter 11
        cases;

    -- any payment of the fees or expenses of Akin Gump and
       Rothschild Inc. given that they have already been paid
       substantial retainers of $800,000 in the aggregate, which
       were paid by ICBC, not the Alleged Debtors; and

    -- any reimbursement for executive employees of the Alleged
       Debtors for travel, parking, gas or other travel and
       entertainment expenses until such time as the Alleged
       Debtors have demonstrated that they have appropriate
       internal controls and policies in place with respect to
       such reimbursements.

The Senior Lenders recognize that during the so-called "gap
period" -- the time between the filing of an involuntary petition
and the entry of an order for relief -- an alleged debtor is
generally permitted to use its property.  However, an alleged
debtor's conduct must comport with its fiduciary duties, and must
not destroy value or dissipate assets to benefit equity holders at
the expense of creditors.  The protective provisions sought by the
Senior Lenders are necessary to ensure that the Alleged Debtors do
not spend excessively or dissipate assets which constitute the
collateral of the Senior Lenders, and are appropriate under the
circumstances.

                 Show Evidence, Inner City Says

In response to the Petitioning Creditors' motion, Inner City tells
the Court that the Motion should be denied because the Petitioners
will be unable to carry their high evidentiary burden to
demonstrate that the Alleged Debtors, or any officers, directors
or shareholders, are absconding with assets, disposing of assets
at less than their fair market value or dismantling the business
to the detriment of creditors.  The Petitioners offer scant
evidence of any wrongdoing and are not entitled to the
extraordinary relief that they seek, according to the Alleged
Debtors.

According to the Alleged Debtors, the Petitioners commenced these
involuntary proceedings as part of an orchestrated strategy to
impose a balance sheet restructuring on the Alleged Debtors, which
was properly rejected following due deliberation by the Alleged
Debtors in consultation with their legal and financial advisors.
In lieu of returning to the bargaining table, the Petitioners took
the extraordinary relief of sweeping virtually all of the Debtors'
cash from approximately $21 million to slightly above $1 million,
forcing the Alleged Debtors prematurely towards chapter 11;
seeking the appointment of a chapter 11 trustee or examiner with
expanded powers; and attempting to limit the Alleged Debtors'
ability to pay, among other things, the salary and benefits of the
CEO.  Through the Motion, the Petitioners also seek to choke off
the Alleged Debtors' ability to pay the restructuring
professionals they require in order to respond to the onslaught of
legal proceedings initiated by the Petitioners and to prepare the
Alleged Debtors for a smooth landing into chapter 11.

The Alleged Debtors' say their management and restructuring
professionals have been focused on attempting to preserve the
value of the businesses and to prepare an appropriate response,
consistent with their respective fiduciary and professional
obligations, to return the restructuring negotiations to the
conference room rather than destroy the Alleged Debtors through
unnecessary and unjustified scorched-earth litigation.

Furthermore, the Alleged Debtors say they have prepared a 3-week
budget which will limit expenditures during the gap period to
allow the Alleged Debtors to preserve going concern value and
enable the Alleged Debtors to adequately prepare for Chapter 11
and the contested matters which have been initiated and threatened
by the Petitioners.

The Alleged Debtors are represented by:

     Ira S. Dizengoff, Esq.
     Abid Qureshi, Esq.
     Akin Gump Strauss Hauer & Feld LLP
     One Bryant Park
     New York, New York 10036
     Phone: (212) 872-1000
     Fax: (212) 872-1002
     E-mail: idizengoff@akingump.com
             aqureshi@akingump.com

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

                         About Inner City

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.

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.


INT'L COMMERCIAL: Board Appoints Richard Ransom as President
------------------------------------------------------------
International Commercial Television Inc.'s Board of Directors has
appointed Richard Ransom as President of the Company, effective
Aug. 29, 2011.  Mr. Ransom currently serves as Chief Financial
Officer of the Company, and will retain that position in addition
to his duties as President.  Mr. Ransom will report to Kelvin
Claney, chief executive officer of the Company.

                   About International Commercial

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

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

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

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

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


INTERTAPE POLYMER: S&P Raises Corporate Credit Rating to 'B-'
-------------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on Montreal, Canada-based Intertape Polymer Group Inc. to
'B-' from 'CCC+'. The outlook is stable.

"The upgrade reflects improvement in the company's operating
performance and our expectation that Intertape will be able to at
least maintain its improved operating performance in the future,"
said Standard & Poor's credit analyst Paul Kurias.

Gradually improving sales volumes, a more favorable pricing
environment, and increasing benefits from the company's cost-
reduction efforts are contributing to EBITDA improvement. The
stronger operating performance has benefited liquidity.

"Leverage credit metrics have also benefited from the upswing in
performance, but we expect that free cash flow generation will be
modest, constraining the company's ability to reduce debt," Mr.
Kurias added.

Standard & Poor's also raised its issue-level rating on
subordinated notes issued by subsidiary company Intertape Polymer
U.S. Inc., to 'CCC' from 'CCC-'. The recovery rating on the notes
remains unchanged at '6', indicating the expectation for
negligible (0%-10%) recovery in the event of a payment default.

The ratings on Intertape Polymer Group Inc. reflect the company's
highly leveraged financial profile and vulnerable business
position in a niche market for tapes in North America. With annual
sales of about $770 million as of June 30, 2011, Intertape
manufactures mainly tapes and films for end markets including
industrial, packaging, housing and construction, and the
relatively stable food and consumer durables industries.

The company's end markets are steadily improving but remain
susceptible for the most part to industrial cycles and economic
downturns. Standard & Poor's expectations for stable-to-improving
operating performance are based on its outlook for continued
modest economic growth in 2011 and 2012.

"Nonetheless, we expect that the company's operating performance
will remain vulnerable to volatility in input costs including
polyethylene and polypropylene resins and to economic slowdowns
and competitive pressures," Mr. Kurias said.


IRON MINING: Files for Reorganization Relief Under Chapter 11
-------------------------------------------------------------
Iron Mining Group, Inc., with the authorization of its board of
directors, has filed a petition for reorganization relief under
Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for
the Southern District of New York, case number 11-14032.  This
strategic action will give the Company the time required to
fulfill existing iron ore sales contracts and generate resulting
profits to repay its senior secured bridge loans, positioning
itself for long-term success.

The Company arrived at this action as a consequence of a dispute
with its senior secured lender, Globe Specialty Metals GSM.  In
December 2010, IMG entered into a $3.3 million Senior Secured
Notes bridge loan financing transaction with GSM through its
subsidiary, MST Financial, LLC, and other investors.  The
financing transaction was structured as an interim step toward
additional follow-on equity financing leading to an acquisition of
controlling interest in IMG by GSM or one of its affiliates, as
reflected in term sheets negotiated at the closing.

Despite the way the multi-stage transaction was outlined and
structured prior to closing the Notes, and the parties'
discussions and negotiations at that time, IMG believes GSM failed
to complete the anticipated follow-on financing with IMG prior to
the June 16, 2011 maturity date of the Notes as originally
negotiated.  MST, the administrative and collateral agent of the
Notes, also restricted IMG's ability to execute its business,
including completing new financings, acquisitions or iron ore
trading transactions.

Based in part on their restrictive actions in connection with the
Notes financing and failure to complete the anticipated follow-on
financing, IMG filed a Complaint against GSM, MST and others on
July 15, 2011 in the Supreme Court of the State of New York,
County of New York (Index No. 651936/2011) detailing the
circumstances supporting its claims for Fraud/Fraudulent
Inducement, Negligent Misrepresentation, Breach of Fiduciary Duty,
Breach of Covenant of Good Faith and Fair Dealing, Breach of
Royalty Agreement, Unfair Competition, Promissory Estoppel, Unjust
Enrichment and Prima Facie Tort.

"IMG remains committed to the uncompromising protection of its
secured and unsecured debt-holders, and its shareholders," said
CEO, Garrett K. Krause, "and we are confident that the above
course of action will allow us to protect our assets while
fulfilling current iron ore export contracts to repay all debt
obligations.  In spite of the above failed GSM follow-on
financing, IMG's three wholly-owned subsidiaries, which are not
part of the Chapter 11, continue to conduct business in the
ordinary course, including proceeding with delivery on two
contracts to deliver 480,000 metric tons of iron ore through
December 31, 2011.  IMG has many strengths upon which to build a
solid plan of reorganization and successfully execute its existing
business opportunities for the repayment of its outstanding
obligations and the ongoing creation of shareholder value."

                     About Iron Mining Group

Iron Mining Group, Inc. is a diversified global iron ore company
with its initial focus in Latin America.  The Company has entered
this marketplace at a time when the largest iron ore customer,
China, seeks to alter the status quo by shifting power away from
the traditional iron ore producers.  IMG has global iron ore
trading group and direct mining operations in Chile and Mexico,
where it owns a number of iron ore projects in various stages of
development.


LOCAL INSIGHT: Plan Outline Hearing Scheduled for Sept. 20
----------------------------------------------------------
The Hon. Kevin Gross for the U.S. Bankruptcy Court for the
District of Delaware will convene a hearing on Sept. 20, 2011, at
10:00 a.m. (prevailing Eastern Time), to consider adequacy of the
Disclosure Statement explaining Local Insight Media Holdings,
Inc.'s Chapter 11 Plan.  Objections, if any, are due Sept. 12, at
4:00 p.m.

The Court set Sept. 20, as the voting record date for determining
holders of claims that are eligible to vote on the Plan.

Copies of the Disclosure Statement and Plan may be obtained for
free by:

   i) contacting Kurtzman Carson Consultants LLC, the claims
      and solicitation agent by telephone at (877) 660-6697 within
      the U.S. or Canada or, outside of the U.S. or Canada, at
      (732) 645-4114; or by writing to the Debtor c/o Kurtzman
      Carson Consultants LLC, 2335 Alaska Avenue, El Segundo,
      California; or

  ii) downloading the documents (excluding the ballots) from the
      Debtors' restructuring website at
      http://www.kccllc.net/localinsight.

                      About Local Insight

Wilmington, Delaware-based Local Insight Media Holdings, Inc., is
a publisher of print and online yellow page directories in the
United States.  Local Insight, along with affiliates, including
Local Insight Regatta Holdings, Inc., filed for Chapter 11
bankruptcy protection on (Bankr. D. Del. Lead Case No. 10-13677)
on Nov. 17, 2010.

Richard M. Cieri, Esq., Christopher J. Marcus, Esq., and Ross M.
Kwasteniet, Esq., at Kirkland & Ellis LLP, serve as the Debtors'
bankruptcy counsel.  Curtis A. Hehn, Esq., Laura Davis Jones,
Esq., and Michael Seidl, Esq., at Pachulski Stang Ziehl & Jones
LLP, are the Debtors' co-counsel.

The Debtors' investment banker and financial advisor is Lazard
Freres & Co. LLC.  The Debtors' independent auditor is Deloitte &
Touche LLP.  The Debtors' interim management and restructuring
advisors are Alvarez & Marsal North America, LLC, and Avarez &
Marsal Private Equity Performance Improvement Group, LLC.
Kurtzman Carson Consultants LLC is the Debtors' notice and claims
agent.

Local Insight Media Holdings estimated assets of less than $50,000
and liabilities of $100 million to $500 million in its Chapter 11
petition.  Local Insight Regatta reported consolidated assets of
$796,270,000 against consolidated debts of $669,612,000 as of
Sept. 30, 2010, according to its Form 10-Q filed with the
Securities and Exchange Commission.

The Official Committee of Unsecured Creditors has tapped Milbank,
Tweed, Hadley & McCloy LLP as its counsel; Morris, Nichols, Arsht
& Tunnel LLP as Delaware co-counsel; Houlihan Lokey Howard & Zukin
Capital Inc. as its financial advisor and investment banker; and
Mesirow Financial Consulting LLC as its forensic accountant and
litigation advisor.


LOCAL INSIGHT: Stipulation on Investigation-Related Fees Approved
-----------------------------------------------------------------
The Hon. Kevin Gross for the U.S. Bankruptcy Court for the
District of Delaware approved the stipulation regarding
investigation-related fees and expenses.

The stipulation was entered among the Debtor Local Insight Media
Holdings, Inc., the prepetition agent and the DIP agent; Mesirow
Financial Consulting, LLC; Houlihan Lokey Howard & Zukin Capital
Inc.; and Morris, Nichols, Arsht & Tunnel LLP.

                      About Local Insight

Wilmington, Delaware-based Local Insight Media Holdings, Inc., is
a publisher of print and online yellow page directories in the
United States.  Local Insight, along with affiliates, including
Local Insight Regatta Holdings, Inc., filed for Chapter 11
bankruptcy protection on (Bankr. D. Del. Lead Case No. 10-13677)
on Nov. 17, 2010.

Richard M. Cieri, Esq., Christopher J. Marcus, Esq., and Ross M.
Kwasteniet, Esq., at Kirkland & Ellis LLP, serve as the Debtors'
bankruptcy counsel.  Curtis A. Hehn, Esq., Laura Davis Jones,
Esq., and Michael Seidl, Esq., at Pachulski Stang Ziehl & Jones
LLP, are the Debtors' co-counsel.

The Debtors' investment banker and financial advisor is Lazard
Freres & Co. LLC.  The Debtors' independent auditor is Deloitte &
Touche LLP.  The Debtors' interim management and restructuring
advisors are Alvarez & Marsal North America, LLC, and Avarez &
Marsal Private Equity Performance Improvement Group, LLC.
Kurtzman Carson Consultants LLC is the Debtors' notice and claims
agent.

Local Insight Media Holdings estimated assets of less than $50,000
and liabilities of $100 million to $500 million in its Chapter 11
petition.  Local Insight Regatta reported consolidated assets of
$796,270,000 against consolidated debts of $669,612,000 as of
Sept. 30, 2010, according to its Form 10-Q filed with the
Securities and Exchange Commission.

The Official Committee of Unsecured Creditors has tapped Milbank,
Tweed, Hadley & McCloy LLP as its counsel; Morris, Nichols, Arsht
& Tunnel LLP as Delaware co-counsel; Houlihan Lokey Howard & Zukin
Capital Inc. as its financial advisor and investment banker; and
Mesirow Financial Consulting LLC as its forensic accountant and
litigation advisor.


LOCATION BASED TECHNOLOGIES: 3 Directors Elected at Annual Meeting
------------------------------------------------------------------
Location Based Technologies, Inc., held its Annual Shareholders'
Meeting on Aug. 30, 2011.  Desiree Mejia, David Morse and Joseph
Scalisi were elected to serve as directors until the next annual
meeting.

                 About Location Based Technologies

Headquartered in Irvine, Calif., Location Based Technologies, Inc.
(OTC BB: LBAS) -- http://www.locationbasedtech.com/-- designs,
develops, and sells personal, pet, and vehicle locator devices and
services.

As reported in the Troubled Company Reporter on Dec. 22, 2010,
Comiskey & Company, in Denver, Colo., expressed substantial doubt
about Location Based Technologies' ability to continue as a going
concern following its results for the fiscal year ended August 31,
2010.  The independent auditors noted that the Company has
incurred recurring losses since inception and has an accumulated
deficit in excess of $28,800,000 and a working capital deficit in
excess of $5,900,000.

The Company's balance sheet at May 31, 2011, showed $1.77 million
in total assets, $7.70 million in total liabilities and a $5.93
million in total stockholders' deficit.


LYDIAN SF: Case Summary & 2 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: Lydian SF Holdings, LLC
        6114 La Salle Avenue, #471
        Oakland, CA 94611

Bankruptcy Case No.: 11-49301

Chapter 11 Petition Date: August 30, 2011

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

Judge: Edward D. Jellen

Debtor's Counsel: Iain A. Macdonald, Esq.
                  MACDONALD AND ASSOCIATES
                  221 Sansome Street, Third Floor
                  San Francisco, CA 94104
                  Tel: (415) 362-0449
                  E-mail: iain@macdonaldlawsf.com

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

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

The petition was signed by Graham Seel, SVP of CMR Capital, LLC,
manager.

Affiliate filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
First Street Holdings NV, LLC         11-49300            08/30/11

Debtor's List of two Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Franchise Tax Board                Annual Fees              $3,948
P.O. Box 942857
Sacramento, CA 94257-0631

CT Corp.                           Registered Agent           $250
P.O. Box 4349                      Services
Carol Stream, IL 60197-4349


LYMAN LUMBER: Bankruptcy Judge Gives OK to Auction Assets
---------------------------------------------------------
Dow Jones' DBR Small Cap reports that Lyman Lumber Co. got court
permission to sell itself at an Oct. 5 bankruptcy auction despite
creditor concerns over the company's quickly spiraling first bid
price.

                      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.


M WAIKIKI: Files for Bankruptcy to Fend Off Marriott
----------------------------------------------------
M Waikiki LLC has filed for Chapter 11 bankruptcy protection.  The
filing allows the company to reorganize in an effort to protect
its investment in The MODERN Honolulu, a 353-room luxury hotel.

The filing follows a court decision granting a temporary
restraining order to allow Marriott International Inc. to resume
its operation of the property.  The Chapter 11 filing now allows M
Waikiki ("Owner") to reaffirm the termination of the management
agreement with Marriott and continue to employ new management at
the property.  M Waikiki LLC had installed new management this
weekend at The MODERN Honolulu, formerly known as the Waikiki
Edition.

"We respectfully disagree with the court decision and remain
confident that the Owner acted within its rights terminating its
contract with Marriott," said William A. Brewer III, partner at
Bickel & Brewer and lead counsel for Owner.  "In any event, the
Owner has filed for bankruptcy protection, which will permit it to
continue the operation of the hotel under its present management
with Modern Management Services."

Modern Management Services was installed as the manager at the
property on August 28, 2011.  The hotel was renamed, guests were
advised, and hundreds of hotel staff members were offered
employment.  New management remains in place.

The ruling and reorganization announcement do not affect Owner's
claims against Marriott, pursuant to which Owner seeks tens of
millions of dollars in damages.

"In our view, filing for bankruptcy protection is the only prudent
option for protecting our investment in this asset," said Damian
McKinney, principal of M Waikiki LLC.  "We look forward to
reorganizing as a new corporate entity, continuing the employment
of a new management company, and making this a leading lifestyle
hotel for guests and employees."

                       About M Waikiki LLC

M. Waikiki is a Hawaii limited liability company with its
principal place of business located in San Diego, California.  It
is a special purpose entity, having approximately 75 indirect
investors, which was formed to acquire the Hotel.


M WAIKIKI: Marriott Says Owner Bankruptcy Self-Defeating
--------------------------------------------------------
The filing by the owner of the Waikiki EDITION and its legal
advisors of a bankruptcy proceeding to prevent Marriott
International, Inc. from retaking management of the hotel is a
self-defeating step that ultimately involves the destruction of
significant value of the owner's asset, Marriott said.

Ed Ryan, Marriott International's executive vice president and
general counsel, said, "While we are astonished at such a self-
destructive course of action, we of course respect the law and the
fact that a bankruptcy filing freezes any other legal orders for
the time being.  It is clear that this was a desperate step by the
owner and legal advisors to circumvent the New York court's order
returning the hotel to our rightful management and control.  They
will obviously stop at nothing in the effort to escape from the
contractual obligations they made to us when they signed the
management agreement.

"We will vigorously pursue tens of millions of dollars of claims
for damages to the brand and our company in bankruptcy court over
time.  We understand the disappointment that our guests and
employees feel about the current status of the Waikiki EDITION,
and will strive to do all we can to help the transition to new
plans."

The company said its court filings would counter the continuous
stream of false and misleading statements regarding its management
of the hotel by the owner and its legal counsel.  For example,
inaccurate statements by the owner notwithstanding, occupancy
rates at the Waikiki EDITION were 67 percent in July and were
running in excess of 80 percent in August prior to the illegal
raid and seizure of the hotel by the owner and its partner
overnight last Sunday.  A New York court ordered that management
of the hotel should be returned to Marriott.

Marriott said that guests holding reservations at the Waikiki
EDITION could call Marriott Customer Care, at 1-800-559-9352 to
receive more information and to change their reservations to other
Marriott International hotels.

                       About M Waikiki LLC

M. Waikiki is a Hawaii limited liability company with its
principal place of business located in San Diego, California.  It
is a special purpose entity, having approximately 75 indirect
investors, which was formed to acquire the Hotel.


M WAIKIKI: Voluntary Chapter 11 Case Summary
--------------------------------------------
Debtor: M Waikiki LLC
        12250 El Camino Real, Suite 220
        San Diego, CA 92130

Bankruptcy Case No.: 11-02371

Chapter 11 Petition Date: August 31, 2011

Court: U.S. Bankruptcy Court
       District of Hawaii (Honolulu)

Judge: Robert J. Faris

Debtor's Counsel: Patrick J. Neligan, Esq.
                  NELIGAN FOLEY LLP
                  325 N. St. Paul, Suite 3600
                  Dallas, TX 75201
                  Tel: (214) 840-5300
                  Fax: (214) 840-5301
                  E-mail: pneligan@neliganlaw.com

                         - and -

                  Simon Klevansky, Esq.
                  KLEVANSKY PIPER, LLP
                  Davies Pacific Center, Suite 1707
                  841 Bishop Street
                  Honolulu, HI 96813
                  Tel: (808) 536-0200
                  Fax: (808) 237-5757
                  E-mail: sklevansky@kplawhawaii.com

Estimated Assets: $100,000,001 to $500,000,000

Estimated Debts: $100,000,001 to $500,000,000

The Company did not file a list of creditors together with its
petition.

The petition was signed by Damian McKinney, manager of eRealty
Fund, LLC, manager.


MARCO POLO: Targets Credit Agricole Unit Over Ship Arrest
---------------------------------------------------------
As widely reported, that Marco Polo Seatrade BV is asking the U.S.
Bankruptcy Court in New York to hold Credit Agricole Corporate and
Investment Bank in contempt and order sanctions against the
lender.

Evan Weinberger at Bankruptcy Law360 reports that Marco Polo
Seatrade BV said Wednesday that a Credit Agricole SA unit must pay
damages for holding one of the shipping company's largest vessels
in a London port in violation of a Chapter 11 automatic stay.

Law360 relates that in a contempt motion filed in New York
bankruptcy court, Marco Polo says that Credit Agricole Corporate &
Investment Bank -- the shipping company's largest lender -- had
the M/T Monitron arrested in the Port of Coryton just prior to its
Chapter 11 filing in July.

                        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 noted that the Debtors' assets and debt are both
more than US$100 million and less than US$500 million.


MOORE SORRENTO: May Use Wells Fargo Cash Collateral until Sep. 18
-----------------------------------------------------------------
As of the Petition Date, Moore Sorrento, LLC, was a borrower under
those two certain Construction Loan Agreements dated November 7,
2007, between the Debtor, as borrower, and Wachovia Financial
Services, Inc., as lender.  Pursuant to the loan agreements,
Wachovia made two loans to the Debtor to allow the Debtor to
refinance its acquisition of a certain property and to fund
construction of certain improvements to the Property.  In
connection with the Loans, the Debtor executed two notes for
$35,244,000 and $6,500,000 in favor of Wachovia, a subsidiary of
Wells Fargo Bank, N.A.  Wells Fargo is the current holder and
owner of the Loans, Notes and Secured Loan Documents.

Under the Secured Loan Documents, the Debtor granted security
interests in and liens on, among other things the Property and all
improvements thereto, and all security deposits held under any
leases and all rentals related to the Property.  As of the
Petition Date, Wells Fargo asserts perfected and senior priority
liens on the Wells Fargo Collateral to secure payment of the
Notes.  Wells Fargo asserts that all cash and cash equivalents,
deposit accounts or any other cash equivalents in the Debtor's
possession, including the proceeds, products, offspring, rents or
profits of the Wells Fargo Collateral constitute cash collateral
of Wells Fargo within the meaning of Section 363 of the Bankruptcy
Code.

Accordingly, the Debtor sought and obtained permission, on an
interim basis, from the U.S. Bankruptcy Court for the Northern
District of Texas to use the Wells Fargo Cash Collateral pursuant
to a budget to pay direct costs of operation in the ordinary
course of the Debtor's business.  A copy of the Cash Budget is
available for free at:

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

The Court ruled that the Debtor's use of the Cash will be limited
to the actual and necessary expenditures identified in the Cash
Budget.  Unless otherwise agreed to by Wells Fargo, no
expenditures will exceed the amounts in the Cash Budget by more
than 10% on any line item basis or 10% of the total monthly
expenditures.  The Court directed the Debtor to make all payments
of quarterly fees due to the United States Trustee, and to retain
all cash received by the Debtor in excess of expenditures
authorized in the Cash Budget.  The Debtor is prohibited from
spending the Excess Cash without either the advance written
consent of Wells Fargo or order from the Court authorizing the
use.

The Court granted Wells Fargo a replacement security interest in,
and lien, to the extent not already included in or a part of the
Wells Fargo Collateral, upon the right, title and interest in the
prepetition Wells Fargo Collateral, and the property acquired by
the Debtor after the Petition Date.  Wells Fargo is also granted a
super-priority administrative expense claim.  As additional
adequate protection, beginning with a payment due on
September 11, 2011, the Debtor will make an adequate protection
payment to Wells Fargo each month in an amount equal to the sum of
the monthly interest payments required on both Notes, calculated
at the non-default contract rates of interest set forth in the
Notes.  As further adequate protection, beginning with a payment
due on September 11, 2011, the Debtor will deposit escrows for
real estate taxes for $23,100 and insurance for $3,300, which
amounts will be held by Wells Fargo in reserve accounts pending
further order of the Court.

The Debtor's authority to use cash collateral under the Interim
Order will terminate on September 18, 2011.  The final hearing on
the Cash Collateral Motion will be held on September 12, 2011, at
2:00 p.m., Prevailing Central Time.

                      About Moore Sorrento

Hurst, Texas-based Moore Sorrento, LLC, owns real property located
in Moore, Oklahoma, commonly known as the Shops at Moore, which
the Company operates as a retail shopping center.  The center's
current 23 tenants offer various goods and services to retail
customers.

Moore Sorrento filed Chapter 11 bankruptcy protection (Bankr. N.D.
Tex. Case No. 11-44651) on Aug. 17, 2011.  J. Robert Forshey,
Esq., and Matthew G. Maben, Esq., at Forshey & Prostok, LLP, serve
as the Debtor's counsel.  Moore Sorrento estimated assets of up to
$100 million and debts of up to $50 million as of the Chapter 11
filing.


MOORE SORRENTO: Sec. 341 Creditors' Meeting Set for Sept. 21
-------------------------------------------------------------
The United States Trustee for Region 6 will hold a Meeting of
Creditors pursuant to 11 U.S.C. Sec. 341 in the bankruptcy case of
Moore Sorrento, LLC, on Sept. 21, 2011, at 10:30 a.m.

The last day to file proofs of claim is Dec. 20, 2011.

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.

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.

                      About Moore Sorrento

Hurst, Texas-based Moore Sorrento, LLC, owns real property located
in Moore, Oklahoma, commonly known as the Shops at Moore, which
the Company operates as a retail shopping center.  The center's
current 23 tenants offer various goods and services to retail
customers.

Moore Sorrento filed Chapter 11 bankruptcy protection (Bankr. N.D.
Tex. Case No. 11-44651) on Aug. 17, 2011.  J. Robert Forshey,
Esq., and Matthew G. Maben, Esq., at Forshey & Prostok, LLP, serve
as the Debtor's counsel.  Moore Sorrento estimated assets of up to
$100 million and debts of up to $50 million as of the Chapter 11
filing.


MOORE SORRENTO: Targets Sept. 14 Schedules Filing
-------------------------------------------------
Moore Sorrento, LLC, asks the U.S. Bankruptcy Court for the
Northern District of Texas for an extension of time to file its
schedule of assets and liabilities, schedule of executory
contracts and unexpired leases, statement of financial affairs and
list of equity security holders through and including September
14, 2011.

J. Robert Forshey, Esq., at Forshey & Prostok, LLP, in Ft. Worth,
Texas, contends that ample cause exists to grant the sought
extension because the Debtor does not have any direct employees to
complete the collection, review and assembly of information for
the Schedules and Statements.  He reminds the Court that the
individuals that perform work for the Debtor are employed by third
parties, including Wayne Meckley, CFO of the Debtor's property
manager, Burk Collins & Co., Ltd.

The meeting of creditors required by Section 341 of the Bankruptcy
Code is currently scheduled for September 21, 2011.  If the
extension is granted, the Schedules and Statements will be file in
advance of that meeting, with ample time being afforded to all
creditors and parties-in-interest to review the Schedules and
Statements prior to the meeting, Mr. Forshey asserts.

                      About Moore Sorrento

Hurst, Texas-based Moore Sorrento, LLC, owns real property located
in Moore, Oklahoma, commonly known as the Shops at Moore, which
the Company operates as a retail shopping center.  The center's
current 23 tenants offer various goods and services to retail
customers.

Moore Sorrento filed Chapter 11 bankruptcy protection (Bankr. N.D.
Tex. Case No. 11-44651) on Aug. 17, 2011.  J. Robert Forshey,
Esq., and Matthew G. Maben, Esq., at Forshey & Prostok, LLP, serve
as the Debtor's counsel.  Moore Sorrento estimated assets of up to
$100 million and debts of up to $50 million as of the Chapter 11
filing.


MOORE SORRENTO: Seeks to Hire Forshey & Prostok as Counsel
----------------------------------------------------------
Moore Sorrento, LLC, seeks authority from the U.S. Bankruptcy
Court for the Northern District of Texas to employ Forshey &
Prostok, LLP, as its attorneys, nunc pro tunc to the Petition
Date.

As counsel, F&P will advise the Debtor (i) of its rights and
duties as debtor-in-possession, (ii) concerning negotiation and
documentation of agreements, debt restructurings and related
transactions, (iii) concerning actions that it might take to
collect and to recover property for its bankruptcy estate, and
(iv) in connection with the formulation, negotiation and
promulgation of a plan of reorganization and related documents.

The Debtor will pay F&P according to the firm's current customary
hourly rates:

          Professional      Fee Range
          ------------      ---------
          Partners          $525
          Associates        $225 - $400
          Of counsel        $275 - $425
          Paralegals        $150 - $175

F&P will also be reimbursed for its actual and necessary expenses.
The Debtor paid F&P a $50,000 retainer for its prepetition
services.  The unused balance of the Retainer will be applied to
postpetition services.

J. Robert Forshey, Esq., a partner at F&P, attests that his firm
is a "disinterested person" as defined in Section 101(14) of the
Bankruptcy Code.

                      About Moore Sorrento

Hurst, Texas-based Moore Sorrento, LLC, owns real property located
in Moore, Oklahoma, commonly known as the Shops at Moore, which
the Company operates as a retail shopping center.  The center's
current 23 tenants offer various goods and services to retail
customers.

Moore Sorrento filed Chapter 11 bankruptcy protection (Bankr. N.D.
Tex. Case No. 11-44651) on Aug. 17, 2011.  Moore Sorrento
estimated assets of up to $100 million and debts of up to $50
million as of the Chapter 11 filing.


NORTEL NETWORKS: Retiree Committee Taps Togut Segal as Counsel
--------------------------------------------------------------
BankruptcyData.com reports that Nortel Networks' official
committee of retirees filed with the U.S. Bankruptcy Court motions
to retain Togut Segal & Segal (Contact: Albert Togut) as counsel
at these hourly rates: member at $800 to $935, associate/counsel
at $215 to $715 and paraprofessional/law clerk at $145 to $285 and
McCarter & English (Contact: William F. Taylor, Jr.) as Delaware
counsel at these hourly rates: partner at $375 to $825,
associate/counsel at $220 to $610 and paraprofessional/law clerk
at $85 to $230.

                       About Nortel Networks

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

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

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

Nortel Networks Inc. and 14 affiliates filed separate Chapter 11
petitions (Bankr. D. Del. Case No. 09-10138) on Jan. 14, 2009.
Judge Kevin Gross presides over the case.  James L. Bromley, Esq.,
at Cleary Gottlieb Steen & Hamilton, LLP, in New York, serves as
general bankruptcy counsel; Derek C. Abbott, Esq., at Morris
Nichols Arsht & Tunnell LLP, in Wilmington, serves as Delaware
counsel.  The Chapter 11 Debtors' other professionals are Lazard
Freres & Co. LLC as financial advisors; and Epiq Bankruptcy
Solutions LLC as claims and notice agent.  Fred S. Hodara, Esq.,
at Akin Gump Strauss Hauer & Feld LLP, in New York, and
Christopher M. Samis, Esq., at Richards, Layton & Finger, P.A., in
Wilmington, Delaware, represent the Official Committee of
Unsecured Creditors.

Certain of Nortel's European subsidiaries also made consequential
filings for creditor protection.  On May 28, 2009, at the request
of the Administrators, the Commercial Court of Versailles, France
ordered the commencement of secondary proceedings in respect of
Nortel Networks S.A.  On June 8, 2009, Nortel Networks UK Limited
filed petitions in this Court for recognition of the English
Proceedings as foreign main proceedings under chapter 15 of the
Bankruptcy Code.

Nortel Networks divested off key assets while in Chapter 11.
In March 2009, the U.S. Bankruptcy Court entered an order
approving the sale of the Layer 4-7 assets to Radware Ltd. as the
successful bidder at auction.  In July 2009, Nortel sold its CDMA
and LTE-related assets to Telefonaktiebolaget LM Ericsson (Publ).
In September 2009, the Court Nortel sold its Enterprise Solutions
business to Avaya Inc.  In October 2009, the Court approved the
sale of assets associated with Nortel's Next Generation Packet
Core network components to Hitachi, Ltd.  On Dec. 2, 2009, the
Court approved the sale of assets associated with Nortel's
GSM/GSM-R business to Telefonaktiebolaget LM Ericsson (Publ) and
Kapsch Carriercom AG.  In December 2009, the Debtors sold their
Metro Ethernet Networks business to Ciena Corporation.  In March
2010, Nortel sold its Carrier Voice Over IP and Application
Solutions business to GENBAND Inc.  In September 2010, Nortel sold
its Multi-Service Switch business to Ericsson.  In August 2011,
Nortel won court approval to sell its intellectual property
portfolio to a group that includes Apple Inc. and Microsoft Corp.
for $4.5 billion.

Nortel Networks filed a proposed plan of liquidation in the
U.S. Bankruptcy Court.  The Plan generally provides for full
payment on secured claims with other distributions going in
accordance with the priorities in bankruptcy law.


NOVADEL PHARMA: Court Upholds Pfizer's Use Patent for ED to 2019
----------------------------------------------------------------
NovaDel Pharma Inc., as previously reported, recently initiated
its clinical development program for Duromist, its oral spray
formulation of sildenafil citrate, for use in erectile
dysfunction.

The recent decision in the court to uphold Pfizer's use patent for
ED to 2019 may limit NovaDel's ability to market its oral spray
formulation for ED in the US.  The recent court action does not
limit its ability to market its formulation outside the US after
similar sildenafil patents expire in 2013.

Sildenafil citrate has two distinct clinical uses.  In the
decision to move forward with the ED application of the compound,
NovaDel considered its alternative use for chronic use in
Pulmonary Arterial Hypertension (PAH).  With the recent US court
decision, NovaDel is actively examining the opportunity to bring
its oral spray formulation to this clinical application.

Given the clinical work performed to date, NovaDel believes it can
add PAH to its program in a manner that, if funded, can bring a
clinical advantage to patients suffering from this very
debilitating disorder.

It should also be noted that in addition to seeking funding to
pursue its company objectives, NovaDel is also examining a variety
of strategic alternatives that would allow the company to continue
to develop its product portfolio.

                        About NovaDel Pharma

Bridgewater, N.J.-based NovaDel Pharma Inc. (OTC BB: NVDL)
-- http://www.novadel.com/-- is a specialty pharmaceutical
company that develops oral spray formulations of marketed
pharmaceutical products.  The Company's patented oral spray drug
delivery technology seeks to improve the efficacy, safety, patient
compliance, and patient convenience for a broad range of
prescription pharmaceuticals.

The Company's balance sheet at June 30, 2011, showed $1.19 million
in total assets, $10.87 million in total liabilities, and a
$9.67 million total stockholders' deficiency.

As reported in the TCR on April 1, 2011, J.H. Cohn LLP, in
Roseland, New Jersey, expressed substantial doubt about Novadel
Pharma's ability to continue as a going concern, following the
Company's 2010 results.  The independent auditors noted that the
Company has suffered recurring losses from operations and negative
cash flows from operating activities.

As of June 30, 2011, the Company had cash and cash equivalents of
$865,000, negative working capital of $3.3 million, and an
accumulated deficit of $93 million.  Based on the Company's
operating plan, the Company expects that its existing cash and
cash equivalents will fund its operations only through Sept. 30,
2011.


OLD CORKSCREW: Court Approves Kapila & Company as CRO
-----------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida
authorized Old Corkscrew Plantation LLC and its debtor-affiliates
to employ Kapila & Company as chief restructuring officer.

According to the Troubled Company Reporter on Aug. 19, 2011, the
firm will provide restructuring management services including
providing the services of Soneet R. Kapila to serve as chief
restructuring officer of the Debtors.

The firm will be paid by the Debtor for the services rendered at
$490 per hour.

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

Fort Myers, Florida-based Old Corkscrew Plantation LLC, whose
oranges are made into Minute Maid and Tropicana juice, filed
for Chapter 11 bankruptcy (Bankr. M.D. Fla. Case No. 11-14559) on
July 29, 2011, listing $25,264,047 in assets and $60,751,633 in
debts.  Old Corkscrew sought Chapter 11 protection along with its
affiliates.  The Debtors' orange groves are valued at $24 million.
Peter Steven Singerman, Esq. -- singerman@bergersingerman.com --
at Berger Singerman P.A., serves as the Debtors' bankruptcy
counsel.  Scott Westlake, the Debtors' managing member, signed the
petition.  Mr. Westlake is also listed as the Debtors' largest
unsecured creditor, with $4,827,906 owed.  Another $338,511 debt
is owed to Scott and Vicki Westlake.


OLD CORKSCREW: Court Approves McDowell Rice as General Counsel
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida
authorized Old Corkscrew Plantation LLC and its debtor-affiliates
to employ McDowell, Rice, Smith & Buchanan P.C. as general counsel
to give advice to the Debtors with respect to their powers and
duties as debtors-in-possession.

According to the Troubled Company Reporter on Aug. 19, 2011, the
Debtors assured the Court that the firm is a "disinterested
person" within the meaning of Section 101(14) of the Bankruptcy
Code.

Fort Myers, Florida-based Old Corkscrew Plantation LLC, whose
oranges are made into Minute Maid and Tropicana juice, filed
for Chapter 11 bankruptcy (Bankr. M.D. Fla. Case No. 11-14559) on
July 29, 2011, disclosing $25,264,047 in assets and $60,751,633 in
debts.  Old Corkscrew sought Chapter 11 protection along with its
affiliates.  The Debtors' orange groves are valued at $24 million.
Peter Steven Singerman, Esq. -- singerman@bergersingerman.com --
at Berger Singerman P.A., serves as the Debtors' bankruptcy
counsel.  Scott Westlake, the Debtors' managing member, signed the
petition.  Mr. Westlake is also listed as the Debtors' largest
unsecured creditor, with $4,827,906 owed.  Another $338,511 debt
is owed to Scott and Vicki Westlake.


OLD CORKSCREW: Files Schedules of Assets & Liabilities
------------------------------------------------------
Old Corkscrew Plantation LLC filed with the U.S. Bankruptcy Court
for the Middle District of Florida, its schedules of assets and
liabilities, disclosing:


  Name of Schedule               Assets                Liabilities
  ----------------              -------                -----------
A. Real Property               $24,000,000
B. Personal Property            $1,264,047
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                     $54,434,354
E. Creditors Holding
   Unsecured Priority
   Claims                                                      $0
F. Creditors Holding
   Unsecured Non-priority
   Claims                                              $6,324,952

                                 -----------       --------------
      TOTAL                      $25,264,047          $60,759,306

                 About Old Corkscrew Plantation LLC

Fort Myers, Florida-based Old Corkscrew Plantation LLC, whose
oranges are made into Minute Maid and Tropicana juice, filed
for Chapter 11 bankruptcy (Bankr. M.D. Fla. Case No. 11-14559) on
July 29, 2011, disclosing $25,264,047 in assets and $60,751,633 in
debts.  Old Corkscrew sought Chapter 11 protection along with its
affiliates.  The Debtors' orange groves are valued at $24 million.
Peter Steven Singerman, Esq. -- singerman@bergersingerman.com --
at Berger Singerman P.A., serves as the Debtors' bankruptcy
counsel.  Scott Westlake, the Debtors' managing member, signed the
petition.  Mr. Westlake is also listed as the Debtors' largest
unsecured creditor, with $4,827,906 owed.  Another $338,511 debt
is owed to Scott and Vicki Westlake.


OMEGA NAVIGATION: Has Court Nod to Pay Critical Vendor Claims
-------------------------------------------------------------
Omega Navigation Enterprises, Inc., et al., sought and obtained
from the U.S. Bankruptcy Court for the Southern District of Texas
permission to pay and honor prepetition obligations to vendors
that provide them essential goods and services before they filed
for bankruptcy.

As the Debtors are in the business of marine transportation
services, the Critical Vendors provide these goods and services:
agents' expenses and costs; port expenses; lubes; crew costs;
cabin, deck and engine stores; bunkers; and maintenance and
repair.

The Debtors are authorized to pay all or part of the prepetition
claims of Critical Vendors in an amount not to exceed $2 million.

Critical Vendors will be paid in either a lump-sum payment or over
time based on negotiations with each Critical Vendors and the
Debtors' available cash flow.

The Debtors are required to maintain a summary list of all
payments to Critical Vendors, and provide updated copies of that
list to the Office of the U.S. Trustee for the Southern District
of Texas, counsel to the agents for the Debtors' prepetition
secured lenders, and counsel to any official committee appointed
in their cases on a monthly basis.

All financial institutions are authorized to receive, process,
honor and pay all checks presented for payment and electronic
payment requests relating to the Critical Vendors Motion.

                      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.  Seward
& Kissel serves as special counsel.  Jefferies & Company, Inc. is
the financial advisor.


PACIFIC CAPITAL: DBRS Confirms 'B' Issuer & Senior Debt Rating
--------------------------------------------------------------
DBRS Inc. has confirmed all ratings for Pacific Capital Bancorp
and its bank subsidiary, Santa Barbara Bank & Trust, N.A.,
including its Issuer & Senior Debt rating at B (high).  The trend
on all long-term ratings is Positive, while the trend on all
short-term ratings is Stable.  The ratings action follows a
detailed review of the Company's operating results, financial
fundamentals and future prospects.

PCBC's ratings reflect the Company's dominant market position
within demographically attractive Santa Barbara and a strong
capital base.  The ratings also consider heightened regulatory
scrutiny including not being allowed to upstream dividends from
the Bank for three years, limited access to the capital markets
and potential damage to PCBC's franchise strength given the severe
problems at the Company prior to the recapitalization.

The Positive trend reflects DBRS's expectation that the Company
will continue to execute on its strategic plan to upgrade its
technology, enhance risk management and return to sustainable
profitability.  Resolving outstanding regulatory issues and
becoming current on interest payments related to its trust
preferred securities would also be viewed favorably.  Conversely,
lack of progress executing on the Company's strategic plan or
resolving regulatory issues could revert the trend back to Stable.

Positively, the Company has remained profitable each quarter since
the $500 million investment made by SB Acquisition Company LLC, a
wholly-owned subsidiary of Ford Financial Fund, L.P. (Ford), on
August 31, 2010.  In 1H11, the Company reported $37.7 million of
net income applicable to common shareholders, which is a
significant improvement from the large losses PCBC was reporting
before the Ford Investment ($144.0 million net loss applicable to
common shareholders in 1H10).  Following the Ford Investment, the
entire balance sheet was fair valued including the problematic
legacy loan portfolio.  As a result, the Company is only
provisioning for newly originated or purchased loans, which has
greatly enhanced profitability. Moreover, the legacy loan
portfolio has performed better than originally expected resulting
in earnings accretion.

With solid earnings and balance sheet contraction, the Company
continues to improve its capital position.  Specifically, PCBC's
tangible common equity ratio improved almost a full percentage
point to 10.72% from 9.81% in 1Q11.  Meanwhile, all regulatory
capital ratios remain above the enhanced capital requirements
mandated by the Office of the Comptroller of the Currency (OCC).
DBRS believes PCBC now has ample capital for growth initiatives
including ramping up loan originations.

Despite the progress made since the investment in returning to
profitability and building a strong capital base, the Company
remains operating under significant regulatory scrutiny.
Specifically, PCBC is operating under a Written Agreement with the
Federal Reserve and a Consent Order issued by the OCC that was
modified in September 2010.  Besides higher capital requirements
and not being able to pay dividends for at least three years,
these regulatory agreements call for the Company to improve risk
management controls and processes in regards to loan underwriting,
surveillance, collection, remediation and disposition of loans.
Moreover, the agreements require the Company to submit a capital
and strategic plan, and provide cash flow projections on a monthly
basis.

Lastly, the Company is still not paying interest on its
outstanding $69.4 million of junior subordinated notes related to
its trust preferred securities, which makes it extremely difficult
to access the debt markets and limits financial flexibility.  The
payments were deferred in 2Q09 and are still not current.  At June
30, 2011, the Company had accrued but not paid $4.6 million of
interest expense.  DBRS notes that the Company can defer payment
for 20 quarters before being in default and PCBC must receive
approval from the Federal Reserve to become current on these
securities.

Pacific Capital Bancorp, a bank holding company headquartered in
Santa Barbara, CA, reported $5.8 billion in assets at June 30,
2011.


PARAMOUNT LIMITED: Can Hire McDonald Hopkins as Counsel
-------------------------------------------------------
The Honorable Thomas J. Tucker has approved the application of
Paramount Limited, LLC, et al. to employ McDonald Hopkins PLC as
their counsel, retroactive to the Petition Date.

The Debtors and the Office of the U.S. Trustee have consented to
the entry of the order.

                     About Paramount Limited

Paramount Limited LLC was an investor in distressed real estate.
Paramount Limited and three other affiliates sought Chapter 11
bankruptcy protection (Bankr. E.D. Mich. Lead Case No. 11-59829)
on July 21, 2011, after a state court appointed McTevia &
Associates as receiver to take over.  The receiver was appointed
at the behest of the Police and Fire Retirement System of the city
of Detroit, one of Paramount's unsecured creditors, with $13.2
million owed.  The Retirement System said Paramount was "a classic
Ponzi scheme."

Judge Thomas J. Tucker presides over the case.  Gene R. Kohut of
Kohut Management Group, LLC, has been tapped to serve as their
Chief Restructuring Officer.  Stephen M. Gross, Esq., and Jayson
Russ, Esq., at McDonald Hopkins Plc, serve as bankruptcy counsel.
Paramount Limited estimated assets of more than $10 million and
debt of less than $10 million.  The petition was signed by Abner
McWhorter, Paramount's managing member.

Affiliates that simultaneously sought Chapter 11 protection are
Paramount Land Holdings, LLC; Paramount Servicing, LLC; and
Paramount Land Holdings, LLC.

The receiver is represented by:

          Mark S. Frankel, Esq.
          Jerry M. Ellis, Esq.
          COUZENS LANSKY FEALK ELLIS ROEDER & LAZAR P.C.
          39395 W. Twelve Mile Road, Suite 200
          Farmington Hills, MI 48331
          Tel: 248-489-8600
          E-mail: mfrankel@couzens.com
                  jerry.ellis@couzens.com

The Police and Fire Retirement System is represented by:

         Marie T. Racine, Esq.
         Jennifer A. Cupples, Esq.
         RACINE & ASSOCIATES
         1001 Woodward Avenue, Suite 1100
         Detroit, MI 48226
         Tel: 313-961-8930
         Fax: 313-961-8945
         E-mail: mracine@racinelaw.us
                 jcupples@racinelaw.us


PARMALAT SPA: Judge Affirms His Jurisdiction in Auditor Suits
-------------------------------------------------------------
Hilary Russ at Bankruptcy Law360 reports that U.S. District Judge
Lewis A. Kaplan on Wednesday decided, for the second time, that it
was within his purview to rule on two lawsuits against auditor
Grant Thornton LLP in multidistrict litigation over the collapse
of Italian dairy giant Parmalat SpA.

According to Law360, Judge Kaplan found that he wasn't obliged to
abstain from dismissing two lawsuits in a larger multidistrict
litigation after the Second Circuit sent the cases back down to
him for further consideration.

                     About Parmalat S.p.A.

Headquartered in Milan, Italy, Parmalat S.p.A. --
http://www.parmalat.net/-- sells nameplate milk products that can
be stored at room temperature for months.  It also has about 40
brand product lines, which include yogurt, cheese, butter, cakes
and cookies, breads, pizza, snack foods and vegetable sauces,
soups and juices.

Parmalat S.p.A. and its Italian affiliates filed separate
petitions for Extraordinary Administration before the Italian
Ministry of Productive Activities and the Civil and Criminal
District Court of the City of Parma, Italy on Dec. 24, 2003.  Dr.
Enrico Bondi was appointed Extraordinary Commissioner in each of
the cases.  The Parma Court declared the units insolvent.

On June 22, 2004, Dr. Bondi, on behalf of the Italian entities,
sought protection from U.S. creditors by filing a petition under
Sec. 304 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No.
04-14268).

Parmalat's U.S. operations filed for Chapter 11 protection on
Feb. 24, 2004 (Bankr. S.D.N.Y. Case No. 04-11139).  Gary Holtzer,
Esq., and Marcia L. Goldstein, Esq., at Weil Gotshal & Manges LLP,
represented the U.S. Debtors.  When the U.S. Debtors filed for
bankruptcy protection, they reported more than US$200 million in
assets and debts.  The U.S. Debtors emerged from bankruptcy on
April 13, 2005.

Three special-purpose vehicles established by Parmalat S.p.A. --
Dairy Holdings Ltd., Parmalat Capital Finance Ltd., and Food
Holdings Ltd. -- commenced separate winding up proceedings before
the Grand Court of the Cayman Islands.  Gordon I. MacRae and James
Cleaver of Kroll (Cayman) Ltd. were appointed liquidators in the
cases.  On Jan. 20, 2004, the Liquidators filed a Sec. 304
petition (Bankr. S.D.N.Y. Case No. 04-10362).  Gregory M. Petrick,
Esq., at Cadwalader, Wickersham & Taft LLP, and Richard I. Janvey,
Esq., at Janvey, Gordon, Herlands Randolph, represented the
Finance Companies in the Sec. 304 case.

The Honorable Robert D. Drain presided over the Parmalat Debtors'
U.S. cases and Sec. 304 cases.  In 2007, Parmalat obtained a
permanent injunction in the Sec. 304 cases.


PATRIOT BANK: Closed; Georgia Commerce Bank Assumes All Deposits
----------------------------------------------------------------
Georgia Commerce Bank of Atlanta, Ga., acquired the banking
operations, including all the deposits, of Patriot Bank of Georgia
in Cumming, Ga., and CreekSide Bank of Woodstock, Ga.  The two
banks were closed on Friday, Sept. 2, 2011, by the Georgia
Department of Banking and Finance, which appointed the Federal
Deposit Insurance Corporation as receiver.  To protect the
depositors, the FDIC entered into a purchase and assumption
agreement with Georgia Commerce Bank.

Patriot Bank of Georgia had one branch, and CreekSide Bank had two
branches.  Due to the Labor Day holiday, the three branches of the
two failed banks will reopen as branches of Georgia Commerce Bank
on Tuesday, Sept. 6.  Depositors of the two failed banks will
automatically become depositors of Georgia Commerce Bank.
Deposits will continue to be insured by the FDIC, so there is no
need for customers to change their banking relationship in order
to retain their deposit insurance coverage up to applicable
limits.

As of June 30, 2011, Patriot Bank of Georgia had around $150.8
million in total assets and $111.2 million in total deposits; and
CreekSide Bank had total assets of $102.3 million and total
deposits of $96.6 million.  In addition to assuming all of the
deposits of the two Georgia banks, Georgia Commerce Bank agreed to
purchase essentially all of their assets.

The FDIC and Georgia Commerce Bank entered into loss-share
transactions on the failed banks' assets.  The loss-share
transaction for Patriot Bank of Georgia covers $136.2 million of
its assets, and the loss-share transaction for CreekSide Bank
covers $69.2 million of its assets.  Georgia Commerce Bank will
share in the losses on the asset pools covered under the loss-
share agreements.  The loss-share transactions are projected to
maximize returns on the assets covered by keeping them in the
private sector.  The transactions also are expected to minimize
disruptions for loan customers.  For more information on loss
share, please visit:

http://www.fdic.gov/bank/individual/failed/lossshare/index.html

Customers with questions about the transaction should call the
FDIC toll-free: for Patriot Bank of Georgia customers, 1-800-323-
6111, and for CreekSide Bank customers, 1-800-238-8209.
Interested parties also can visit the FDIC's Web sites:

for Patriot Bank of Georgia,

http://www.fdic.gov/bank/individual/failed/patriot.html

and for CreekSide Bank,

http://www.fdic.gov/bank/individual/failed/creekside.html

The FDIC estimates that the cost to the Deposit Insurance Fund for
Patriot Bank of Georgia will be $44.4 million and for CreekSide
Bank, $27.3 million.  Compared to other alternatives, Georgia
Commerce Bank's acquisition of the two institutions was the least
costly resolution for the FDIC's DIF.

The closings are the 69th and 70th FDIC-insured institutions to
fail in the nation so far this year and the eighteenth and
nineteenth in Georgia.  The last FDIC-insured institution closed
in the state was First Southern National Bank, Statesboro on
Aug. 19, 2011.


PENINSULA HOSPITAL: Sept. 13 Hearing for Patient Care Ombudsman
---------------------------------------------------------------
Howard Koplowitz at YourNabe.com reports that Peninsula Hospital
has until Sept. 9, 2011, to file papers in federal bankruptcy
court in Brooklyn to argue why a patient care ombudsman should
not be assigned to the struggling facility as it continues to
negotiate with a physician-led investor group that seeks to buy
the Rockaway institution.

The report notes an involuntary Chapter 11 bankruptcy petition was
filed against Peninsula August 16 by a Peninsula doctor and two
vendors who say they are owed a combined $127,204 from the
hospital.

According to the report, the hospital is in danger of closing
following revelations that it owes vendors $13 million, but a
physician-led investor group is seeking an agreement to take over
the hospital.  Peninsula Hospital spokeswoman Liz Sulik said
"negotiations are continuing between the investor group and the
hospital," but would not say what Peninsula's response to the
involuntary bankruptcy will be.

Peninsula has until September 9 to file papers in bankruptcy court
and officials from the facility are expected to appear in court
Sept. 13 for a hearing to determine whether a patient care
ombudsman will be appointed by the court.  If Peninsula fails to
show cause, the court will appoint an ombudsman "for the
protection of patients under the specific circumstances of this
case," according to court papers.

Three petitioners who were owed $127,204 filed an involuntary
Chapter 11 petition against the hospital Aug. 16, according to
Crain's, but the hospital declined to comment about the court
action, which was designed to give the board more time to resolve
the crisis.

Wayne S. Dodakian, Vinod Sinha, and Shannon Gerardi filed an
involuntary Chapter 11 bankruptcy protection against Peninsula
Hospital Center in the U.S. Bankruptcy Court for the Eastern
District of New York (Case No. 11-47056) on Aug. 16, 2011.  Judge
Elizabeth S. Stong presides over the case.  Marilyn Cowhey Macron,
Esq., Macron & Cowhey, represents the petitioners.


PENN TREATY: Provides Status on PTAC Liquidation Proceedings
------------------------------------------------------------
Penn Treaty American Corporation commenced the mailing of a letter
to its shareholders of record.  The shareholder letter describes
the current status of the proceedings relating to the Pennsylvania
Insurance Commissioner's efforts to liquidate the Company's direct
and indirect subsidiaries, Penn Treaty Network America Insurance
Company and American Network Insurance Company.  The shareholder
letter also provides certain internally prepared, unaudited
financial information of the Company as of June 30, 2011.
A full-text copy of the Letter is available for free at:

                        http://is.gd/ulceVN

                     About Penn Treaty American

Penn Treaty American Corporation -- https://www.penntreaty.com/ --
through its wholly owned direct and indirect subsidiaries, Penn
Treaty Network America Insurance Company, American Network
Insurance Company, American Independent Network Insurance Company
of New York, Network Insurance Senior Health Division and Senior
Financial Consultants Company, is engaged in the underwriting,
marketing and sale of individual and group accident and health
insurance products, principally covering long term nursing home
and home health care.

On October 2, 2009, the Insurance Commissioner of the Commonwealth
of Pennsylvania filed in the Commonwealth Court of Pennsylvania
Petitions for Liquidation for PTNA and American Network Insurance
Company.  PTNA is a direct insurance company subsidiary of Penn
Treaty American Corporation, and ANIC is a subsidiary of PTNA.


PERKINS & MARIE: S&P Withdraws 'D' CCR on Lack of Information
-------------------------------------------------------------
Standard & Poor's Ratings Services withdrew its 'D' corporate
credit rating on Memphis-based Perkins & Marie Callender's Inc.
"We also withdrew our ratings on the company's debt. The company
is operating under Chapter 11 bankruptcy protection and, in our
opinion, is no longer providing sufficient information for us to
maintain a credit rating," S&P related.


PORTER HILLS: S&P Cuts Rating on Series 2003 Securities to 'BB-'
----------------------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term rating
and underlying rating (SPUR) to 'BB-' from 'BB' on Grand Rapids
Economic Development Corp., Mich., and Michigan Strategic Fund'
s series 2003 auction-rate securities. At the same time, Standard
& Poor's lowered its long-term rating to 'BB-' from 'BB' on
Michigan Strategic Fund's series 1998 revenue bonds. All bonds
were issued for Porter Hills Presbyterian Village (PHPV). The
outlook on all ratings is negative.

"The rating action reflects our view of the impact that operating
losses in the last few years and a one-time cash outlay have had
on liquidity, as well as a restructuring of the debt profile with
bank qualified bonds that have termination risk," said Standard &
Poor's credit analyst Avanti Paul.

The 'BB-' ratings reflect S&P's view of PHPV's:

    Reduction of operating losses in fiscal 2011, which management
    expects will continue in fiscal 2012;

    Improved and good maximum annual debt service (MADS) coverage
    in fiscal 2011;

    Low capital spending and no major capital plans financed with
    reserves or debt; and

    Relatively stable average occupancy.

"The negative outlook reflects our view of PHPV's continued
operating losses and very limited balance sheet flexibility
resulting from lower liquidity," S&P added.


QEP RESOURCES: S&P Rates $1.5-Bil. Sr. Credit Facility at 'BB+'
---------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB+' and '3'
recovery to Denver-based QEP Resources Inc.'s $1.5 billion senior
unsecured revolving credit facility due 2016. The '3' recovery
rating indicates our expectation of meaningful (50% to 70%)
recovery in the event of a payment default. As of June 30, 2011,
QEP had approximately $1.6 billion of funded debt outstanding.

"The corporate credit rating on QEP reflects its concentration in
natural gas assets and smaller scale compared with many
investment-grade exploration and production companies," said
Standard & Poor's credit analyst Patrick Jeffrey. "These
characteristics are somewhat limiting factors to the ratings."
Supporting the ratings are the company's favorable cost structure,
good assets in the Rockies and Mid-Continent regions, and a
conservative financial policy.

The majority of QEP's operations are exposed to the cyclical and
capital-intensive pressures of the E&P sector. "The company had
roughly 3.0 trillion cubic feet of natural gas equivalent of total
proved reserves as of fiscal 2010 and we expect it to produce
about 730 million cubic feet equivalent per day in fiscal 2011.
Operations are focused primarily in the Rockies (about 42% of
current production) and the Mid-Continent region (58%)," S&P
related.

"The outlook is stable. We expect that QEP's good cost structure
and conservative financial policy should result in key credit
protection measures remaining in line with the ratings over the
next 12 months. We would consider a negative rating action if the
company demonstrates a more aggressive financial policy that
results in total debt to EBITDA exceeding 2.5x. We consider the
potential for a positive rating action limited over the next 12
months given our expectations for continued near-term weakness in
natural gas prices," S&P added.


QUALTEQ INC: U.S. Trustee Appoints 5-Member Creditor's Panel
------------------------------------------------------------
Roberta A. DeAngelis, United States Trustee for Region 3, under 11
U.S.C. Sec. 1102(a) and (b), appointed four unsecured creditors to
serve on the Official Committee of Unsecured Creditors of QualTeq,
Inc.

The Creditors Committee members are:

      1. Plami S.A. De. C.V.
         ATTN: Javier Miguel Checa
         Calzada de la Naranja NO 167 2do Piso,
         Fracc, Industrial Alec Blanco
         Naucalpan, Estado de Mexico 53370
         Tel: (011) 525-521-222401
         Fax: (011) 5255-55763526

      2. Quad/Graphics Inc.
         ATTN: Patricia A. Rydzk
         N63 W23075 State Hwy 74
         Sussex WI, 53089
         Tel: (414) 566-2127
         Fax: (414) 566-9415

      3. XPEDX
         ATTN: Jeff Biskaduros
         261 River Road
         Clifton NJ 07014
         Tel: (973) 405-2231
         Fax: (973) 405-2143

      4. Bradner Smith & Company a wholly owned subsidiary of
         Bradner Center Company
         ATTN: Christopher Kouros
         2300 Arthur Avenue
         Elk Grove Village, IL 60007,
         Tel: (847) 290-5551
         Fax: (847) 290-7979

     5. JDSU Uniphase Corporation
        ATTN: May Adrig
         430 N. McCarthy Blvd.
         Milpitas CA
         95035
         Tel: (408) 546-7081
         Fax: (408) 546-4372

                        About QualTeq, Inc.

South Plainfield, New Jersey-based QualTeq, Inc., engages in the
design, manufacture, and personalization of plastic cards in the
United States.  The company manufactures magnetic, contact, and
dual interface smart cards.

Qualteq Inc. and 17 affiliated companies filed Chapter 11
bankruptcy protection (Bankr. D. Del. Lead Case No. 11-12572) on
Aug. 14, 2011.  Eric Michael Sutty, Esq., and Jeffrey M. Schlerf,
Esq., at Fox Rothschild LLP, serve as local counsel to the
Debtors.  K&L Gates LLP is the general bankruptcy counsel.
Scouler & Company is the restructuring advisors.  QualTeq
estimated assets of up to $50 million and debts of up to $100
million as of the Chapter 11 filing.


QUANTUM FUEL: Amends Terms of WB QT Convertible Promissory Notes
----------------------------------------------------------------
Quantum Fuel Systems Technologies Worldwide, Inc., and its secured
lender, WB QT, LLC, entered into an Agreement and Amendment
pursuant to which the Company and the Lender agreed to amend the
terms of each of the three outstanding convertible promissory
notes held by Lender and that certain promissory note held by
Lender that is referred to by the Company as the "Consent Fee
Note."

The maturity date on the Convertible Notes was extended from
Aug. 31, 2011, to Oct. 31, 2011.  Two million dollars of the
principal is due and payable on Sept. 9, 2011, and the remaining
$10.5 million is due and payable on Oct. 31, 2011.  In exchange
for the extension, the Company issued 500,000 shares of its common
stock to the Lender, and the conversion price under each of the
Convertible Notes will be automatically adjusted on Sept. 1, 2011,
from $9.80 per share to $3.31 per share, which represents the
closing price for a share of the Company's common stock on
Aug. 31, 2011.

The Company was given the right to prepay all or part of the
Convertible Notes.

Under the Amended Consent Fee Note, the Company's right to satisfy
payment demands using shares of its common stock was amended to
provide that the Company can exercise that right to use shares of
common stock as long as the volume weighted average price for a
share of its common stock for the 3 consecutive trading day period
prior to the date a payment demand is made is greater than $2.00.
Prior to the execution of the Agreement, the Company could only
satisfy payment demands using shares of its common stock if the
share price was at least $10.00.

The Lender's right to make payment demands was amended so that no
payment demands can be made prior to Oct. 31, 2011, unless the
Company's VWAP Price is greater than $2.00.

The Company was given the immediate right to prepay all or part of
the Consent Fee Note.  In the event the Company exercises its Call
Right, the amount so called must be paid in cash.  Prior to the
execution of the Agreement, the Company could not call any part of
the Consent Fee Note until Jan. 16, 2012.

A full-text copy of the Agreement and Amendment is available for
free at http://is.gd/Gcn3Re

                        About Quantum Fuel

Based in Irvine, California, Quantum Fuel Systems Technologies
Worldwide, Inc., is a fully integrated alternative energy company
and considers itself a leader in the development and production of
advanced clean propulsion systems and renewable energy generation
systems and services.

Quantum Fuel and its senior lender, WB QT, LLC, entered into a
Ninth Amendment to Credit Agreement and a Forbearance Agreement on
Jan. 3, 2011.  The Senior Lender agreed to provide the Company
with a $5.0 million non-revolving line of credit, which may be
drawn upon at any time prior to April 30, 2011.  Advances under
the New Line of Credit do not bear interest -- unless an event of
default occurs, in which case the interest rate would be 10% per
annum -- and mature on April 30, 2011.  The Senior Lender also
agreed to forbear from accelerating the maturity date for any
portion of the Senior Debt Amount and from exercising any of its
rights and remedies with respect to the Senior Debt Amount until
April 30, 2011.

The Company reported a net loss attributable to stockholders of
$11.03 million on $20.27 million of total revenue for the year
ended Apri1 30, 2011, compared with a net loss attributable to
stockholders of $46.29 million on $9.60 million of total revenue
during the prior year.

The Company's balance sheet at April 30, 2011, $71.97 million in
total assets, $33.39 million in total liabilities and $38.57
million in total equity.

Ernst & Young LLP, in Orange County, California, noted that
Quantum Fuel's recurring losses and negative cash flows combined
with the Company's existing sources of liquidity and other
conditions raise substantial doubt about the Company's ability to
continue as a going concern.

                       Possible Bankruptcy

The Company anticipates that it will need to raise a significant
amount of debt or equity capital in the near future in order to
repay certain obligations owed to the Company's senior secured
lender when they mature.  As of June 15, 2011, the total amount
owing to the Company's senior secured lender was approximately
$15.5 million, which includes approximately $12.5 million of
principal and interest due under three convertible promissory
notes that are scheduled to mature on Aug. 31, 2011, and a $3.0
million term note that is potentially payable in cash upon demand
beginning on Aug. 1, 2011, if the Company's stock is below $10.00
at the time demand for payment is made.  If the Company is unable
to raise sufficient capital to repay these obligations at maturity
and the Company is otherwise unable to extend the maturity dates
or refinance these obligations, the Company would be in default.
The Company said it cannot provide any assurances that it will be
able to raise the necessary amount of capital to repay these
obligations or that it will be able to extend the maturity dates
or otherwise refinance these obligations.  Upon a default, the
Company's senior secured lender would have the right to exercise
its rights and remedies to collect, which would include
foreclosing on the Company's assets.  Accordingly, a default would
have a material adverse effect on the Company's business and, if
the Company's senior secured lender exercises its rights and
remedies, the Company would likely be forced to seek bankruptcy
protection.


RANCHER ENERGY: Seeks to Hire Stinson Morrison as Special Counsel
-----------------------------------------------------------------
Rancher Energy Corp. seek to employ Stinson Morrison Hecker LLP as
its special counsel, nunc pro tunc to Jul. 7, 2011.

Stinson Morrison will assist in conducting a deposition of John
Works in adversary case no. 10-1173-MER, Rancher Energy Corp. v.
GasRock Capital, LLC., and related matters.  Mr. Works resides in
Washington, DC.

Stinson Morrison will be paid in accordance to its hourly rates
and reimbursed for expenses.  The firm's current hourly rates are:

               Partner         $440
               Associates      $270

Based on the verified statement of Darrell W. Clark, the Debtor
believes that Stinson Morrison does not represent or hold any
interest adverse to the Debtor or its estate in the matters upon
which the firm is to be retained or in any other matters, and that
the firm is a disinterested person within the meaning of Section
101(14) of the Bankruptcy Code.

                      About Rancher Energy

Denver, Colorado-based Rancher Energy Corp. (OTC BB: RNCHQ)
-- http://www.rancherenergy.com/-- is an independent energy
company that explores for and develops produces, and markets oil
and gas in North America.  Through March 2011, the Company
operated four oil fields in the Powder River Basin, Wyoming.

Effective March 1, 2011, the Company sold all of its oil and gas
properties, which has allowed it to eliminate the majority of its
debt and also provide financial resources during its continuing
reorganization.

The Company was formerly known as Metalex Resources, Inc., and
changed its name to Rancher Energy Corp. in 2006.  Rancher Energy
Corp. was incorporated in the State of Nevada on Feb. 4, 2004.

Rancher Energy filed for Chapter 11 bankruptcy protection on
Oct. 28, 2009 (Bankr. D. Colo. Case No. 09-32943).  Herbert A.
Delap, Esq., who has an office in Denver, Colorado, assists the
Debtor in its restructuring effort.  In its petition, the Company
estimated assets and debts of between $10 million and $50 million
each.

As reported in the TCR on March 25, 2011, the Company delivered to
the Bankruptcy Court a first amended Chapter 11 plan of
reorganization, and first amended disclosure statement explaining
that plan.


READER'S DIGEST: S&P Lowers Corporate Credit Rating to 'CCC+'
-------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Reader's Digest Assn. Inc. to 'CCC+' from 'B'. "In
addition, we lowered our ratings on the company's $525 million
senior secured notes to 'CCC' from 'B'. The recovery rating was
revised to '5' from '4', because the company obtained a new $45
million secured term loan on Aug. 12, 2011, which ranks senior to
the notes. Our rating outlook is negative," S&P related.

"We lowered the ratings based on the company's weak second-quarter
results, its narrow cushion of compliance with financial
covenants, vulnerability to economic cyclicality, and our view
that its weakened brands and eroding consumer confidence could
further reduce liquidity," said Standard & Poor's credit analyst
Tulip Lim.

"Our rating on Reader's Digest reflects our expectation that the
company will continue facing secular pressure in its publications
business; that its publishing business will remain highly
competitive; that there are minimal growth prospects in its direct
marketing business; and that its direct marketing model -- selling
music, videos, and books -- will become increasingly
uncompetitive. It also reflects the dated image of the Reader's
Digest flagship magazine. These considerations support our view of
the business risk profile as 'vulnerable' and our expectation that
sales will continue to decline. We consider the company's
financial profile to be highly leveraged, given its significant
debt burden," S&P stated.

"Our base-case scenario for full-year 2011 indicates revenue,
excluding fair value adjustments and currency exchange movements,
declining at a percentage rate in the teens because of weakening
consumer sentiment and revenue declines in the Ab Circle Pro
product. We believe that, despite the roll-off of higher marketing
expense in the first half, full-year EBITDA could decline over
30%. For the second quarter ended June 30, 2011, revenue declined
6%, but excluding fair value adjustments and foreign exchange,
revenue fell 18% because of a decline in sales in Ab Circle Pro,
softness in some international markets, and declining advertising
revenue and renewals in some magazines. The company's EBITDA
(after restructuring expenses and stock-based compensation)
dropped 26%," S&P related.

"Despite a roughly 75% reduction in debt as a result of a
bankruptcy process concluded Feb. 22, 2010, adjusted debt-to-
EBITDA is high at roughly 5.4x for the 12 months ended June  30,
2011, and in line with the indicative debt-to-EBITDA ratio of
above 5x that we associate with a 'highly leveraged' financial
risk profile. On Aug. 12, 2011, the company obtained a new $45
million secured term loan and a new $10 million unsecured term
loan.  Following the quarter-end, the company drew down its entire
revolving credit facility. We expect leverage, including the new
term loans, the additional revolver borrowings, and our
expectation of further EBITDA declines will rise. Adjusted
coverage was 1.7x for the twelve months ended June 30, 2011.
Discretionary cash flow was negative for the same period.  Even
excluding high bonus payments and costs related to the bankruptcy
reorganization, discretionary cash flow for the period would have
been negative. We expect that discretionary cash flow will remain
negative because we believe EBITDA will continue to decline," S&P
stated.


REGAL PLAZA: Has Lender Deal, Seeks Case Dismissal
--------------------------------------------------
Regal Plaza LLC asks the U.S. Bankruptcy Court for the District of
Nevada to dismiss its Chapter 11 case and approve a settlement
agreement with secured lender Nevada State Bank.

A hearing is set for Sept. 6, 2011, at 1:30 p.m., to consider the
Debtors' requests.

The Debtor tells the Court that the key consideration for the
dismissal is that the Debtor has an affiliate that has the ability
to refinance its shopping mall in an amount sufficient to satisfy
its secured lender.

In 2004, the bank made a loan to the Debtor of $8,320,000, the
Debtor says.

The Debtor relates that, on Nov. 30, 2010, it has proposed a plan
of reorganization which would pay the bank monthly payments of
principal and interest, and a balloon payment before the end of
10 years.  The Debtor and the bank have been litigating various
issues relating to the plan.

According to the Debtor, the bank and certain of its guarantors
have agreed to settle the outstanding issues under the terms and
condition of the settlement and release agreement, which is
available for free at:

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

Las Vegas, Nevada-based Regal Plaza, LLC, owns a shopping center
in Las Vegas, Nevada.  The shopping center was originally
constructed in 2000 on 5.72 acres which are operated as the Regal
Plaza.  There is 56,097 square feet of rentable space,
approximately 22,510 square feet are currently occupied and 23,187
square feet are currently being improved for tenants with signed
leases.  The Company filed for Chapter 11 bankruptcy protection
(Bankr. D. Nev. Case No. 10-26707) on Sept. 1, 2010.  Lenard E.
Schwartzer, Esq., at Schwartzer & Mcpherson Law Firm, in Las
Vegas, Nev., represents the Debtor as counsel.  In its schedules,
the Debtor disclosed $10,815,564 in assets and $8,592,879 in
liabilities as of the Petition Date.


RIDGE PARK: Can Hire Levene Neale as Bankruptcy Counsel
-------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
has authorized Ridge Park Office, LLC to employ Levene, Neale,
Bender, Yoo & Brill L.L.P. as its bankruptcy counsel.

There was no opposition to the application.

                  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


SBARRO INC: S&P Withdraws D Corp. Credit Rating on Lack of Info
---------------------------------------------------------------
Standard & Poor's Ratings Services withdrew its ratings, including
its 'D' corporate credit rating, on Melville, N.Y.-based Sbarro
Inc. The company is operating under Chapter 11 bankruptcy
protection and is no longer providing sufficient information for
Standard & Poor's to maintain a credit rating.


SHASTA LAKE: Court OKs Downey Brand as Counsel
----------------------------------------------
Shasta Lake Resorts LP sought and obtained permission from the
U.S. Bankruptcy Court for the Eastern District of California to
employ Downey Brand LLP as counsel.

The firm, will among other things:

   a) prepare and file schedules, statements of financial affairs
      and other related forms;

   b) represent the debtor at all meetings of creditors, hearings,
      pretrial conferences, and trial in this case or any
      litigation arising in connection with the case; and

   c) prepare, filing and presentation to the court of any
      pleading requesting or opposing relief.

The Debtor desires to retain counsel immediately and would retain
Jamie P. Dreher, Esq., Gregg D. Josephson, Esq., and Downey Brand
LLP, who are duly admitted to practice before court.

To the best of Downey Brand LLP and the attorney's knowledge,
Downey Brand LLP and the attorneys have no connection with Shasta
Lake Resorts, any personnel employed in the office of the U.S.
Trustee, the creditors or any other party in interest, nor do
these attorneys represent or hold any interest adverse to the
debtors in possession or the estate herein in the matters upon
which they are ti be engaged, and their employment would be un the
best interest if the estate and the creditors.

                        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.


SHANE'S FLIGHT DECK: Shane's Bar Files for Chapter in Harrisburg
----------------------------------------------------------------
Hummelstown, Pennsylvania-based Shane's Flight Deck, Ltd., doing
business as Shane's City Limits filed a Chapter 11 petition
(Bankr. M.D. Pa. Case No. 11-bk-06061) in Harrisburg on Aug. 31,
2011.

Nick Malawskey at the Patriot-News, reporting about the Chapter 11
filing, said that Shane's, the Hershey-area bar, made headlines
earlier this year when it tried to convert to a gentlemen's club.

Located in a plaza off of Hersheypark Drive, in January the bar
was the scene of a zoning flap when its owner, Shane Mrakovich,
installed a stage and began hosting dancers, according to the
Patriot-News.

At the time M. Mrakovich said the downturn in the economy had
severely impacted the business, and the move was an attempt to
boost sales.  The bar's landlord, Room One Corp., responded by
suing Mr. Mrakovich for violating local zoning rules and for not
paying back-owed rent, according to the report.

The report notes the suit was settled a few days later when
Mr. Mrakovich agreed to stop hosting dancers and to comply with
all zoning requirements.  In exchange, Room One forgave the bar
part of its unpaid rent.

The Debtor is represented by:

         Robert E Chernicoff, Esq.
         CUNNINGHAM AND CHERNICOFF PC
         2320 North Second Street
         Harrisburg, PA 17110
         Tel: (717) 238-6570
         Fax: (717) 238-4809
         E-mail: rec@cclawpc.com


SHENGDATECH INC: Taps Garden City Group as Claims Agent
-------------------------------------------------------
Shengdatech Inc. asks the U.S. Bankruptcy Court for the District
of Nevada for permission to employ GCG Inc. as the notice, claims
and solicitation agent.

The firm will, among other things:

   i) prepare and serve all required notices in this Chapter 11
      Case,

  ii) administer claims and maintain the Debtor's claims register,

iii) print ballots and coordinating the mailing of solicitation
      packages (i.e., ballots, disclosure statement and chapter 11
      plan or plans) to all voting and non-voting parties and
      providing a certificate or affidavit of service with respect
      thereto,

  iv) maintain a telephone staff to handle inquiries relating to
      procedures for filing proofs of claim, voting, and general
      case information, and

   v) establish a case specific website for posting of the
      official claims register and other documents related to the
      Debtor and this Chapter 11 Case.

The firm's hourly rates are:

   Title                                   Standard Hourly Rates
   -----                                   ---------------------
   Administrative & Data Entry             $45-$55
   Mailroom and Claims Control             $55
   Customer Service Representatives        $57
   Project Administrators                  $70-$85
   Quality Assurance Staff                 $80-$125
   Project Supervisors                     $95-$110
   Systems & Technology Staff              $100-$200
   Graphic Support for web site            $125
   Project Managers                        $125-$175
   Directors, Sr. Consultants and Asst VP  $200-$295
   Vice President and above                $295

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

                         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 US$295.4 million in assets and US$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: Seeks Nod for Michael Kang as CRO
--------------------------------------------------
Shengdatech Inc. asks the U.S. Bankruptcy Court for the District
of Nevada for permission to appoint Chief Restructuring Officer
Michael Kang and A. Carl Mudd and Sheldon Saidman, members of the
Special Committee of the Board of Directors of Shengdatech Inc. as
representatives authorized to act on behalf of the Debtor.

According to the report, by virtue of the CRO's appointment which
was confirmed by this Court and the Special Committee's powers
granted under the Resolution, the Debtor believes that the CRO and
the Members are already statutorily authorized representatives of
the Debtor under Nevada law.

                         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 US$295.4 million in assets and US$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: 341(a) Creditors' Meeting Moved to Oct. 17
-----------------------------------------------------------
ShengdaTech, Inc.'s 11 U.S.C. Sec. 341(a) meeting of creditors on
has been continued from Sep. 19, 2011 at 3:00 p.m. (Pacific
Standard Time) to Oct. 17, 2011, at 2:00 p.m. (Pacific Standard
Time).  The meeting will be held at:

     300 Booth Street,
     Room 3024,
     Reno, Nevada
     89509

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 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 US$295.4 million in assets and US$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: U.S. Trustee Appoints 3-Member Creditor's Panel
----------------------------------------------------------------
August B. Landis, United States Trustee for Region 17, under 11
U.S.C. Sec. 1102(a) and (b), appointed three unsecured creditors to
serve on the Official Committee of Unsecured Creditors of
ShengdaTech, Inc.

The Creditors Committee members are:

      1. AG OFCON, LLC
         Represented by: Timothy A. Hutfilz
         245 Park Avenue, 26th Floor
         New York, NY 10167
         Tel: (212) 692-2016
         Fax: (212) 867-6395
         E-mail: thutfilz@angelogordon.com

      2. THE BANK OF NEW YORK MELLON
         as Indenture Trustee
         One Canada Square
         London E145A
         United Kingdom
         Represented by: Mark Jeanes
         BNY Mellon
         6525 West Campus Oval
         New Albany, OH 43054
         Tel: (207) 964-4468
         Fax: (207) 964-2536
         E-mail: mark.jeanes@bnymellon.com

      3. ZAZOVE ASSOCIATES, LLC
         Represented by: Mario Valente
         1001 Tahoe Blvd.
         Incline Village, NV 89451
         Tel: (775) 886-1500
         Fax: (775) 886-1599
         E-mail: mvalente@zazove.com

                         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 US$295.4 million in assets and US$180.9
million in debt as of Sept. 30, 2011.


SSI SYSTEMS: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: SSI Systems, Inc.
        11612 Knott Street, #1
        Garden Grove, CA 92841-1822

Bankruptcy Case No.: 11-22414

Chapter 11 Petition Date: September 1, 2011

Court: U.S. Bankruptcy Court
       Central District of California (Santa Ana)

Judge: Theodor Albert

Debtor's Counsel: Robert M. Aronson, Esq.
                  LAW OFFICE OF ROBERT M. ARONSON
                  444 S. Flower Street, Suite 1700
                  Los Angeles, CA 90071
                  Tel: (213) 232-1116
                  Fax: (213) 232-1195
                  E-mail: robert@aronsonlawgroup.com

Scheduled Assets: $4,120,947

Scheduled Debts: $5,901,744

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/cacb11-22414.pdf

The petition was signed by Randy Walker, president.


STELLAR GT: Can Hire CB Richard Ellis as Real Estate Broker
-----------------------------------------------------------
The Honorable Paul Mannes has approved the application of Stellar
GT TIC LLC and VFF TIC LLC to employ CB Richard Ellis Inc. as
their real estate broker.

CB Richard Ellis will market The Georgian for sale.

                         About Stellar GT

Stellar GT TIC LLC and VFF TIC LLC, owners of the Georgian
apartments located at 8750 Georgia Avenue in Silver Spring,
Maryland, filed for Chapter 11 bankruptcy protection (Bankr. D.
Md. Case Nos. 11-22977 and 11-22980) on June 22, 2011.  Judge
Wendelin I. Lipp oversees the case.  Michelle Maloney-Raymond is
the case administrator.  Matthew G. Summers, Esq., at Ballard
Spahr LLP, serves as the Debtors' counsel.

The Debtors negotiated a plan of reorganization before filing for
Chapter 11.  The proposed plan is premised on either (1) a sale of
the project pursuant to an auction process or (2) a consensual
restructuring of the secured debt.  Broker CB Richard Ellis Inc.
has been hired to conduct the sale.

The auction rules provide that a first-round sealed bid would be
required to be submitted by Aug. 24.  The broker would then have
until Sept. 5 to negotiate with the first-round bidders.  Second-
round sealed bids would be due Sept. 5.  The highest second-round
bid would be identified by Sept. 12, 2011.  The highest bid would
be submitted for approval at the confirmation hearing in October.

Wells Fargo, the holder of a $207.6 million secured debt, can bid
at the auction.  The Lender is represented by Mark Taylor, Esq.,
at Kilpatrick Townsend & Stockton LLP, and Jantra Van Roy, Esq.,
at Zeichner Ellman & Krause LLP.

W. Clarkson McDow, Jr., U.S. Trustee for Region 4, has not
appointed an unsecured creditors' committee in the Debtors' cases.
The U.S. Trustee will appoint an unsecured creditors' committee
upon the request of an adequate number of eligible unsecured
creditors.


SUMMO INC: Seeks to Hire Daniel K. Usiak, Jr. as Counsel
--------------------------------------------------------
Summo, Inc. seeks authority from the U.S. Bankruptcy Court for the
District of Colorado to employ Daniel K. Usiak, Jr. as its
counsel.

Counsel is to perform all legal services necessary to assist the
Debtor in its Chapter 11 case and will be paid according to the
practice's hourly rates.  The current hourly rates are:

               Daniel K. Usiak, Jr.        $250
               Paralegal                    $95

The Debtor informs the Court that Counsel was paid a $15,000
retainer to be used for payment of fees and costs incurred during
the preparation and administration of the case.  John Musso, the
Debtor's owner, paid the retainer.

Based on Mr. Usiak's verified statement, the Debtor believes that
Counsel is a disinterested person as defined by Section 101(14) of
the Bankruptcy Code.

                         About Summo Inc.

Pueblo, Colorado-based Summo Inc., fka Pinion Ridge, LLC, filed
for Chapter 11 bankruptcy (Bankr. D. Colo. Case No. 11-28971) on
Aug. 9, 2011.  Judge Elizabeth E. Brown presides over the case.
Daniel K. Usiak, Jr., Esq., at Usiak Law Firm, serves as the
Debtor's bankruptcy counsel.  The Debtor scheduled $15,845,500 in
assets and $4,809,760 in debts.  The petition was signed by John
Musso, president.


SUNNYVALE BUSINESS: Files Schedules of Assets And Liabilities
-------------------------------------------------------------
Sunnyvale Business Square LLC filed with the U.S. Bankruptcy Court
for the District of Arizona its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------           ------------      -----------
  A. Real Property                $7,500,000
  B. Personal Property               788,040
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $12,450,000
  E. Creditors Holding
     Unsecured Priority
     Claims                                           $84,088
  F. Creditors Holding
     Unsecured Non-priority
     Claims
                                ------------     ------------
        TOTAL                     $8,288,040     $ 12,534,088

A full-text copy of the schedules and statements is available for
free at http://bankrupt.com/misc/SUNNYVALEBUSINESS_sal.pdf

                  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.  Attorney for
Debtor is:

          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

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.

Secured Lender CCMS 2005-CD1 Baseline Road LLC is represented by
lawyers at Ballard Spahr LLP.


THINK3 INC: $1.05MM Loan from Gensym Cayman Gets Final Approval
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Texas
authorized, on a final basis, Think3 Inc., to use cash collateral
and incur postpetition secured indebtedness from  Gensym Cayman,
L.P.

The lender agreed to provide a cash advance of up to $305,000 on
an interim basis, and up to $1,050,000, pursuant to the DIP credit
agreement to: (i) fund ongoing working capital and general
corporate needs of the Debtor during the Chapter 11 case; (ii) pay
the fees, costs, expenses, and disbursements of professionals
retained by the Debtor or any statutory committees appointed in
the Chapter 11 case; (iii) pay the costs and expenses of members
of the Committees, including the U.S. Trustee and clerk fees; and
(iv) pay to the lender the fees and expenses.

As adequate protection for any diminution in value of the lenders'
collateral, the Debtors will grant the lender security interests
and superpriority claims, subject to certain carve out expenses.

                           About think3

Think3 Inc. develops computer-aided design software.  Think3 has
been a debtor in corporate reorganization proceedings under the
laws of Italy pending before the Court of Bologna since March 14,
2011.  Dr. Andrea Ferri was appointed to act as trustee in the
Italian Proceedings.

Think3 sought Chapter 11 protection (Bankr. W.D. Tex. Case No.
11-11252) on May 18, 2011, in Austin, its hometown, three months
after creditors filed an involuntary bankruptcy petition against
the company in a court in Bologna, Italy.  The company didn't
oppose the involuntary bankruptcy.  Rebecca Roof was appointed as
chief restructuring officer.

The Italian trustee filed a Chapter 15 petition (Bankr. W.D. Tex.
Case No. 11-11925) for Think3 in bankruptcy court in Austin on
Aug. 1, claiming she has the right to control the company's
restructuring through the Italian court.

Since the Italian bankruptcy was filed, there have been continuing
disputes over the right to control the company's assets.  ESW
Capital LLC acquired Think3 in September.  The primary debt is a
$23 million tax liability in Italy.

The Italian Trustee is represented by Duane Morris LLP.

The Debtor disclosed $0 in assets and $45,447,716 in liabilities
as of the Chapter 11 filing.

Versata FZ-LLC, Versata Development Group, Inc., Versata Software,
Inc., ESW Capital, LLC, the parent of Think3, and Gensym Cayman
L.P., the DIP Lender, are represented by Fulbright & Jaworski
L.L.P., and Morrison & Foerster LLP.


THINK3 INC: Postpones Assets Sale Plea to This Month
----------------------------------------------------
Dr. Andrea Ferri, in his capacity as the putative foreign
representative for Think3 Inc., asks the U.S. Bankruptcy Court for
the Western District of Texas to:

   a. adjourn the hearing on the sale motion and escrow motion
      scheduled for Aug. 25, 2011, to a hearing date in September
      2011, after the Court has had an opportunity to consider and
      rule on the relief sought in the Petition;

   b. consider this application on an expedited basis; and after a
      hearing on the application, a temporary restraining order or
      preliminary injunction order staying all proceedings in the
      instant chapter 11 case that will remain in place pending
      the Court's consideration of the Foreign Representative's
      request for entry of an order recognizing the Italian
      Proceeding as a foreign main proceeding and a short period
      thereafter, as necessary;

   c. establish contact with the Italian Court, in order to
      resolve pending matters and proceed on a coordinated basis.

The Debtor's corporate reorganization proceedings under the laws
of Italy are pending before the Court of Bologna, Italy.

Dr. Ferri relates that Think3, after considerable litigation, has
regained control over its intellectual property from Versata FZ-
LLC through the Italian Proceedings.  After failing in Italy, and
in direct violation of a stay and injunction that is
automatically in place under the Italian Bankruptcy Laws, Dr.
Ferri continues, Versata commenced litigation against Think3 in
the United States.

Dr. Ferri explains that the sale and escrow motion hearing can be
held after the recognition of the Italian Proceedings is granted.
Dr. Ferri notes that Rebecca Roof, appointed
chief restructuring officer, refused to grant an adjournment on
consent that provides for hearings on the sale and escrow motions
after the hearing on recognition.

Dr. Ferri also believes that communication between the Court and
the Italian Court will help resolve the problematic cross-border
relationship that has permeated the restructuring process, and
will at the same time make certain that the Court and the Italian
Court are fully apprised of the requirements and matters that each
Court has before it and is addressing.

                           About think3

Think3 Inc. develops computer-aided design software.  Think3 has
been a debtor in corporate reorganization proceedings under the
laws of Italy pending before the Court of Bologna since March 14,
2011.  Dr. Andrea Ferri was appointed to act as trustee in the
Italian Proceedings.

Think3 sought Chapter 11 protection (Bankr. W.D. Tex. Case No.
11-11252) on May 18, 2011, in Austin, its hometown, three months
after creditors filed an involuntary bankruptcy petition against
the company in a court in Bologna, Italy.  The company didn't
oppose the involuntary bankruptcy.  Rebecca Roof was appointed as
chief restructuring officer.

The Italian trustee filed a Chapter 15 petition (Bankr. W.D. Tex.
Case No. 11-11925) for Think3 in bankruptcy court in Austin on
Aug. 1, claiming she has the right to control the company's
restructuring through the Italian court.

Since the Italian bankruptcy was filed, there have been continuing
disputes over the right to control the company's assets.  ESW
Capital LLC acquired Think3 in September.  The primary debt is a
$23 million tax liability in Italy.

The Italian Trustee is represented by Duane Morris LLP.

The Debtor disclosed $0 in assets and $45,447,716 in liabilities
as of the Chapter 11 filing.

Versata FZ-LLC, Versata Development Group, Inc., Versata Software,
Inc., ESW Capital, LLC, the parent of Think3, and Gensym Cayman
L.P., the DIP Lender, are represented by Fulbright & Jaworski
L.L.P., and Morrison & Foerster LLP.


THOMAS HICKS: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Thomas Hicks Landscaping, Inc.
        1119 Chat Holley Drive
        Santa Rosa Beach, FL 32459

Bankruptcy Case No.: 11-31455

Chapter 11 Petition Date: August 30, 2011

Court: U.S. Bankruptcy Court
       Northern District of Florida (Pensacola)

Debtor's Counsel: Bessie M. Creswell, Esq.
                  BURR & FORMAN LLP
                  P.O. Box 2287
                  Mobile, AL 36652-2287
                  Tel: (251) 344-5151
                  Fax: (251) 344-9696
                  E-mail: bcreswell@burr.com

Estimated Assets: $100,001 to $500,000

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

The Company did not file a list of creditors together with its
petition.

The petition was signed by Thomas J. Hicks, president.


TOUSA INC: Can Use Lenders' Cash Collateral Through Sept. 30
------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Florida
has authorized TOUSA, Inc., and its debtor-affiliates, to access
the cash collateral of their prepetition lenders through
Sept. 30, 2011.

The Debtors are authorized to use Cash Collateral for working
capital and general corporate purposes that is not materially
inconsistent with the budget provided that the Prepetition
Secured Lenders are granted adequate protection.

The Debtors' authorization to use Cash Collateral will terminate
on the earlier to occur of (i) the Cash Collateral Termination
Date or (ii) expiration of the Budget Period unless the Debtors
will propose an extension of the Cash Collateral Period.

On April 13, the Court authorized the Debtors, in an eighth final
order, to use the lenders' cash until May 31.

Citicorp North America, Inc., and Wells Fargo Bank, N.A., as first
and second lien administrative agents to the prepetition lenders,
consented to the Debtors use of the cash collateral.  The Debtors
would use the cash collateral to complete the implementation of
their wind-down business plan and continue to fund the
administrative expenses of the Chapter 11 cases.

As adequate protection for any diminution in value of the lenders'
collateral, the Debtors will grant the prepetition lenders
replacement liens, adequate protection and super priority
administrative expense.

A copy of the cash collateral order is available at
http://bankrupt.com/misc/TOUSA_cashcollorder.pdf

                         About Tousa Inc.

Headquartered in Hollywood, Florida, TOUSA, Inc. (Pink Sheets:
TOUS) -- http://www.tousa.com/-- fka Technical Olympic U.S.A.
Inc., dba Technical U.S.A., Inc., Engle Homes, Newmark Homes L.P.,
TOUSA Homes Inc. and Newmark Homes Corp. is a leading homebuilder
in the United States, operating in various metropolitan markets in
10 states located in four major geographic regions: Florida, the
Mid-Atlantic, Texas, and the West.

The Debtor and its debtor-affiliates filed for separate
Chapter 11 protection on Jan. 29, 2008 (Bankr. S.D. Fla. Case
No. 08-10928).  The Debtors have selected M. Natasha Labovitz,
Esq., Brian S. Lennon, Esq., Richard M. Cieri, Esq., and Paul
M. Basta, Esq., at Kirkland & Ellis LLP; and Paul Steven
Singerman, Esq., at Berger Singerman, to represent them in
their restructuring efforts.  Lazard Freres & Co. LLC is the
Debtors' investment banker.  Ernst & Young LLP is the Debtors'
independent auditor and tax services provider.  Kurtzman Cars
LLC acts as the Debtors' Notice, Claims & Balloting Agent.

TOUSA's direct subsidiary, Beacon Hill at Mountain's Edge LLC dba
Eagle Homes, filed for Chapter 11 Protection on July 30, 2008
(Bankr. S.D. Fla. Case No. 08-20746).  It estimated assets and
debts of $1 million to $10 million in its Chapter 11 petition.

The official committee of unsecured creditors has filed a proposed
chapter 11 liquidating plan for Tousa.  However, the committee
said that it no longer intends to pursue approval of its
liquidation plan because of the pending appeal of its fraudulent
transfer case in the U.S. Court of Appeals for the Eleventh
Circuit.  A district court in February 2011 held that the
bankruptcy judge was wrong in ruling that lenders who were paid
off received fraudulent transfers when Tousa gave liens on
subsidiaries' properties to bail out and refinance a joint
venture.  Daniel H. Golden, Esq., and Philip C. Dublin, Esq., at
Akin Gump Strauss Hauer & Feld LLP, in New York, represent the
creditors committee.


US FIDELIS: Can Use Lenders' Cash Collateral Through Sept. 30
-------------------------------------------------------------
Judge Charles E. Rendlen, III, of the U.S. Bankruptcy Court for
the Eastern District of Missouri has authorized the Debtor to use
the cash collateral of prepetition lender Mepco Finance
Corporation in the operation of the Debtor's business and for
payment of Chapter 11 expenses, including profession fees, in
accordance with the budget.  However, Judge Rendlen also denies
all other requests.

The counsel for the Official Committee of Unsecured Creditors and
counsel for Mepco were unable to reach mutually acceptable
language regarding the proposed order because a potential legal
issue between the UCC and Mepco has come to light.

The Bankruptcy Court has declined to intervene to resolve their
drafting problem and will not consider competing versions of the
proposed order.

A copy of the cash collateral order is available at:
http://bankrupt.com/misc/USFIDELIS_cashcollorder.pdf

Wentzville, Missouri-based US Fidelis, Inc., was a marketer of
vehicle service contracts developed by independent and unrelated
companies.  It stopped writing new business in December 2009.

The Company filed for Chapter 11 bankruptcy protection (Bankr.
E.D. Mo. Case No. 10-41902) on March 1, 2010.  Brian T. Fenimore,
Esq., and Crystanna V. Cox, Esq., at Lathrop & Gage L.C., in
Kansas City, Mo.; and Robert E. Eggmann, Esq., and Thomas H.
Riske, Esq., at Lathrop & Gage, in Clayton, Mo., assist the Debtor
in its restructuring effort.  According to the schedules, the
Company had assets of $74,386,836, and total debts of $25,770,655
as of the petition date.

Allison E. Graves, Esq., and Brian Wade Hockett, Esq., at Thompson
Coburn LLP, in St. Louis, Mo., represent the Official Unsecured
Creditors Committee.


US POSTAL: Rep. Issa Launches SavingThePostalService.com
--------------------------------------------------------
The Talk Radio News Service reports that Rep. Darrell Issa (R-
Calif.) launched an interactive website Thursday with the sole
purpose of saving a debilitating United States Postal Service.

The news agency relates that SavingThePostalService.com allows
visitors to see the facts about the financially insolvent U.S.
Postal Service and offers them the opportunity to weigh in on
which solutions Congress should pursue to address this issue.

"The USPS is fast-approaching default and without serious reforms
it will collapse and be unable to meet payroll as early as next
year," the report quotes Rep. Issa as saying. "The American people
will not accept the bailout of yet another failing institution
which is why Congress must act to put the Postal Service on a
sustainable course. Go to SavingThePostalService.com to learn more
about the Postal Service, see our reforms and get involved in
crafting your own solutions."

According to the report, the chairman of the House Committee on
Oversight and Government Reform, along with Rep. Dennis Ross (R-
Fla.) began working towards making the USPS a solvent institution
early this summer by introducing the Postal Reform Act of 2011.

The Talk Radio News Service, citing the Post Master General, says
the USPS will default on a multi-billion dollar payment to U.S.
taxpayers by Sept. 30, 2011.  The postal service is expected to
lose $9 billion in FY2011, exceeding the $8.5 billion it lost in
2010, the report discloses.


VERAX RESTAURANT: Case Summary & 21 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Verax Restaurant Group, Inc.
          dba Denny's Restaurant 8019
        4760 E. Cesar Chavez Avenue
        Los Angeles, CA 90022

Bankruptcy Case No.: 11-47163

Chapter 11 Petition Date: August 31, 2011

Court: U.S. Bankruptcy Court
       Central District of California (Los Angeles)

Judge: Richard M. Neiter

Debtor's Counsel: Dennis E. McGoldrick, Esq.
                  350 S. Crenshaw Boulevard, Suite A207B
                  Torrance, CA 90503
                  E-mail: dmcgoldricklaw@yahoo.com

Scheduled Assets: $1,085,632

Scheduled Debts: $1,580,009

A list of the Company's 21 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/cacb11-47163.pdf

The petition was signed by Zinaida Pishik, president.


VITRO SAB: Unit Files Schedules of Assets and Liabilities
---------------------------------------------------------
Vitro America LLC filed with the U.S. Bankruptcy Court for
the Northern District of Texas its schedules of assets and
liabilities, and statements of financial affairs, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------           ------------      -----------
  A. Real Property                 7,401,547
  B. Personal Property           $79,620,380
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $13,323,959
  E. Creditors Holding
     Unsecured Priority
     Claims                                      $240,636,305
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                    $1,237,003,159
                                ------------   --------------
        TOTAL                    $87,021,927   $1,490,963,424

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

                          About Vitro SAB

Headquartered in Monterrey, Mexico, Vitro, S.A.B. de C.V. (BMV:
VITROA; NYSE: VTO), through its two subsidiaries, Vitro Envases
Norteamerica, SA de C.V. and Vimexico, S.A. de C.V., is the
largest manufacturer of glass containers and flat glass in Mexico,
with consolidated net sales in 2009 of MXN23,991 million (US$1.837
billion).

Vitro defaulted on its debt in 2009 and sought to restructure
around US$1.5 billion in debt, including US$1.2 billion in notes.
Vitro launched an offer to buy back or swap US$1.2 billion in debt
from bondholders.  The tender offer would be consummated with a
bankruptcy filing in Mexico and Chapter 15 filing in the United
States.  Vitro said noteholders would recover as much as 73% by
exchanging existing debt for cash, new debt or convertible bonds.

           Concurso Mercantil & Chapter 15 Proceedings

Vitro SAB on Dec. 13, 2010, filed its voluntary petition for a
pre-packaged Concurso Plan in the Federal District Court for Civil
and Labor Matters for the State of Nuevo Leon, commencing its
voluntary concurso mercantil proceedings -- the Mexican equivalent
of a prepackaged Chapter 11 reorganization.  Vitro SAB also
commenced parallel proceedings under Chapter 15 of the U.S.
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 10-16619) in Manhattan
on Dec. 13, 2010, to seek U.S. recognition and deference to its
bankruptcy proceedings in Mexico.

Early in January 2011, the Mexican Court dismissed the Concurso
Mercantil proceedings.  The judge said Vitro couldn't push through
a plan to buy back or swap US$1.2 billion in debt from bondholders
based on the vote of US$1.9 billion of intercompany debt when
third-party creditors were opposed.  Vitro as a result dismissed
the first Chapter 15 petition following the ruling by the Mexican
court.

On April 12, 2011, an appellate court in Mexico reinstated the
reorganization.  Accordingly, Vitro SAB on April 14 re-filed a
petition for recognition of its Mexican reorganization in U.S.
Bankruptcy Court in Manhattan (Bankr. S.D.N.Y. Case No. 11-11754).

In the present Chapter 15 case, the Debtor seeks to block any
creditor suits in the U.S. pending the reorganization in Mexico.

On June 29, 2011, Vitro Packaging de Mexico S.A. de C.V. commenced
a voluntary judicial reorganization proceeding under the Ley de
Concursos Mercantiles before the Federal District Court for Civil
and Labor Matters for the State of Nuevo Leon, the United Mexican
States.  On June 30, 2011, Vitro Packaging filed a chapter 15
petition (Bankr. N.D. Tex. Case No. 11-34224).

Alejandro Francisco Sanchez-Mujica and Javier Arechavaleta Santos
serve as Foreign Representatives of Vitro S.A.B. de C.V. and Vitro
Packaging de Mexico S.A. de C.V.  The Foreign Representatives are
represented by David M. Bennett, Esq., Katharine E. Battaia, Esq.,
and Cassandra A. Sepanik, Esq., at Thompson & Knight LLP, and
Andrew M. Leblanc, Esq., Risa M. Rosenberg, Esq., Thomas J. Matz,
Esq., and Jeremy C. Hollembeak, Esq., at Milbank Tweed Hadley &
McCloy LLP.

Attorneys for the Ad Hoc Group of Vitro Noteholders are Jeff P.
Prostok, Esq., and Lynda L. Lankford, Esq., at Forshey & Prostok,
LLP, and Allan S. Brilliant, Esq., Benjamin E. Rosenberg, Esq.,
Craig P. Druehl, Esq., and Dennis H. Hranitzky, Esq., at Dechert
LLP.

                     Chapter 11 Proceedings

A group of noteholders, namely Knighthead Master Fund, L.P., Lord
Abbett Bond-Debenture Fund, Inc., Davidson Kempner Distressed
Opportunities Fund LP, and Brookville Horizons Fund, L.P., opposed
the exchange.  Together, they held US$75 million, or approximately
6% of the outstanding bond debt.  The Noteholder group commenced
involuntary bankruptcy cases under Chapter 11 of the U.S.
Bankruptcy Code against Vitro Asset Corp. (Bankr. N.D. Tex. Case
No. 10-47470) and 15 other affiliates on Nov. 17, 2010.

Vitro engaged Susman Godfrey, L.L.P. as U.S. special litigation
counsel to analyze the potential rights that Vitro may exercise in
the United States against the ad hoc group of dissident
bondholders and its advisors.

A larger group of noteholders known as the Ad Hoc Group of Vitro
Noteholders -- comprised of holders, or investment advisors to
holders, which represent approximately US$650 million of the
Senior Notes due 2012, 2013 and 2017 issued by Vitro -- was not
among the Chapter 11 petitioners, although the group has expressed
concerns over the exchange offer.  The group says the exchange
offer exposes Noteholders who consent to potential adverse
consequences that have not been disclosed by Vitro.  The group is
represented by John Cunningham, Esq., and Richard Kebrdle, Esq. at
White & Case LLP.

The U.S. affiliates subject to the involuntary petitions are Vitro
Chemicals, Fibers & Mining, LLC (Bankr. N.D. Tex. Case No. 10-
47472); Vitro America, LLC (Bankr. N.D. Tex. Case No. 10-47473);
Troper Services, Inc. (Bankr. N.D. Tex. Case No. 10-47474); Super
Sky Products, Inc. (Bankr. N.D. Tex. Case No. 10-47475); Super Sky
International, Inc. (Bankr. N.D. Tex. Case No. 10-47476); VVP
Holdings, LLC (Bankr. N.D. Tex. Case No. 10-47477); Amsilco
Holdings, Inc. (Bankr. N.D. Tex. Case No. 10-47478); B.B.O.
Holdings, Inc. (Bankr. N.D. Tex. Case No. 10-47479); Binswanger
Glass Company (Bankr. N.D. Tex. Case No. 10-47480); Crisa
Corporation (Bankr. N.D. Tex. Case No. 10-47481); VVP Finance
Corporation (Bankr. N.D. Tex. Case No. 10-47482); VVP Auto Glass,
Inc. (Bankr. N.D. Tex. Case No. 10-47483); V-MX Holdings, LLC
(Bankr. N.D. Tex. Case No. 10-47484); and Vitro Packaging, LLC
(Bankr. N.D. Tex. Case No. 10-47485).

A bankruptcy judge in Fort Worth, Texas, denied involuntary
Chapter 11 petitions filed against four U.S. subsidiaries.  On
April 6, 2011, Vitro SAB agreed to put Vitro units -- Vitro
America LLC and three other U.S. subsidiaries -- that were subject
to the involuntary petitions into voluntary Chapter 11.  The Texas
Court on April 21 denied involuntary petitions against the eight
U.S. subsidiaries that didn't consent to being in Chapter 11.  The
U.S. subsidiaries subsequently sold their businesses to an
affiliate of Sun Capital Partners Inc. for US$55 million.

Kurtzman Carson Consultants is the claims and notice agent to
Vitro America, et al.  Alvarez & Marsal North America LLC is the
Debtors' operations and financial advisor.

The official committee of unsecured creditors appointed in the
Chapter 11 cases of Vitro America, et al., has selected Sarah Link
Schultz, Esq., at Akin Gump Strauss Hauer & Feld LLP, in Dallas,
Texas, and Michael S. Stamer, Esq., Abid Qureshi, Esq., and Alexis
Freeman, Esq., at Akin Gump Strauss Hauer & Feld LLP, in New York,
as counsel.


WASHINGTON MUTUAL: Judge Tosses Ex-Workers' Compensation Claims
---------------------------------------------------------------
Samuel Howard at Bankruptcy Law360 reports that U.S. District
Judge Richard A. Jones on Tuesday tossed a lawsuit brought by
former Washington Mutual Bank NA employees alleging the Federal
Deposit Insurance Corp. violated their employment contracts when
it sold the defunct bank's assets in receivership to JPMorgan
Chase NA in 2008.

Judge Jones found that the plaintiffs -- more than 100 former WaMu
workers -- were not entitled to large compensation payments under
their employment agreements because those contracts were
extinguished when the bank failed.

                      About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- is a holding company for Washington Mutual
Bank as well as numerous non-bank subsidiaries.

Washington Mutual Bank was taken over on Sept. 25, 2008, by U.S.
government regulators.  The next day, WaMu and its affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  WaMu owns
100% of the equity in WMI Investment.  When WaMu filed for
protection from its creditors, it disclosed assets of
$32,896,605,516 and debts of $8,167,022,695.  WMI Investment
estimated assets of $500 million to $1 billion with zero debts.

WaMu is represented by Brian Rosen, Esq., at Weil, Gotshal &
Manges LLP in New York City; Mark D. Collins, Esq., at Richards,
Layton & Finger P.A. in Wilmington, Del.; and Peter Calamari,
Esq., and David Elsberg, Esq., at Quinn Emanuel Urquhart Oliver &
Hedges, LLP.  The Debtor tapped Valuation Research Corporation as
valuation service provider for certain assets.

Fred S. Hodara, Esq., at Akin Gump Strauss Hauer & Fled LLP in New
York and David B. Stratton, Esq., at Pepper Hamilton LLP in
Wilmington, Del., represent the Official Committee of Unsecured
Creditors.  Stephen D. Susman, Esq., at Susman Godfrey LLP and
William P. Bowden, Esq., at Ashby & Geddes, P.A., represent the
Equity Committee.  The official committee of equity security
holders also tapped BDO USA as its tax advisor. Stacey R.
Friedman, Esq., at Sullivan & Cromwell LLP and Adam G. Landis,
Esq., at Landis Rath & Cobb LLP in Wilmington, Del., represent
JPMorgan Chase, which acquired the WaMu bank unit's assets prior
to the Petition Date.

On Jan. 7, 2011, the U.S. Bankruptcy Court for the District of
Delaware entered a 107-page opinion determining that the global
settlement agreement, among certain parties including WMI, the
Federal Deposit Insurance Corporation and JPMorgan Chase Bank,
N.A., upon which the Plan is premised, and the transactions
contemplated therein, are fair, reasonable, and in the best
interests of WMI.  Additionally, the Opinion and related order
denied confirmation, but suggested certain modifications to the
Company's Sixth Amended Joint Plan of Affiliated Debtors that, if
made, would facilitate confirmation.

Washington Mutual has filed with the Bankruptcy Court a Modified
Sixth Amended Joint Plan and a related Supplemental Disclosure
Statement.  The Company believes that the Modified Plan has
addressed the Bankruptcy Court's concerns and looks forward to
returning to the Bankruptcy Court to seek confirmation of the
Modified Plan.


WELLCARE HEALTH: S&P Withdraws 'B' Counterparty Credit Rating
-------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' counterparty
credit rating on WellCare Health Plans Inc. Standard & Poor's then
withdrew the rating at the company's request. The outlook prior to
the withdrawal was positive.


WYLE SERVICES: S&P Keeps B+ Corp. Credit Rating; Outlook Stable
---------------------------------------------------------------
Standard & Poor's Ratings Services revised its rating outlook on
El Segundo, Calif.-based Wyle Services Corp. to stable from
negative. All ratings on the company and its debt issues,
including the 'B+' corporate credit rating, remain unchanged.

"The 'B+' rating on Wyle reflects modest profitability inherent in
the government services business, budget reliance on the key U.S.
federal government agencies, limited flexibility to pursue
additional debt-financed acquisitions, and still-high leverage
despite recent moderate reduction," said Standard & Poor's credit
analyst David Tsui. "Solid positions in the niche government
services market and predictable revenue streams based on a
contractual backlog of business, as well as a more diversified
customer base as a result of the CAS Group acquisition, partially
offset these factors."

Wyle provides contracting services, including research and
development and engineering capabilities, along with information
technology and program management and acquisition support
solutions to U.S. federal government agencies, with a focus on
serving the Navy and NASA. The acquisition of CAS in September
2010 adds an Army franchise to Wyle's portfolio, offering revenue
diversification. The company's expertise in aerospace test and
engineering services, in additional to longstanding contractual
relationships with key government agencies, support its business
profile.

The combined company benefits from CAS's stronghold in Huntsville,
Ala. As a result of the BRAC (Base Realignment and Closure)
initiative to close a number of Army bases, several large
government agencies will be relocated to Huntsville, creating
local demand for contractors. Additionally, once severed from ITT,
CAS should be able to benefit from resolution of OCI
(Organizational Conflict of Interest) issues and will no longer
have to limit or avoid systems engineering and technical
assistance services (SETA) work related to ITT's product areas.

Pro forma revenues for the combined company are approximately $1.1
billion. Wyle has high re-compete success (higher than 85%),
offering significant revenue visibility. EBITDA margins have been
consistent at about 8%, reflecting stable margins generated from
cost-plus and time and materials contracts (which represent about
90% of the company's contract portfolio).

Wyle's total debt (including capitalized operating leases) to
EBITDA is in the low-6x area, including nine months of CAS
operating results. "We expect the company's EBITDA to continue to
benefit from the CAS acquisition, which is not predicated on
synergies. We anticipate debt to EBITDA to be in the mid-5x area
in the near term, which is commensurate with the rating. We have
not incorporated the possibility of acquisitions funded from
internally generated cash flow into our current rating," S&P
stated.


YRC WORLDWIDE: Board Approves Director Compensation Plan
--------------------------------------------------------
The Board of Directors of YRC Worldwide Inc. approved the YRC
Worldwide Inc. Director Compensation Plan, effective Aug. 30,
2011.  All of the non-employee directors of the Company, which
includes Raymond J. Bromark, Douglas A. Carty, Matthew A. Doheny,
Robert L. Friedman, James E. Hoffman, Michael J. Kneeland, Harry
J. Wilson and James F. Winestock, will participate in the Director
Plan.  The Director Plan provides for:

   (i) annual cash retainer of $75,000 for service on the Board
      ($125,000 for service as the Chairman of the Board), with
       additional retainers of $15,000 for service as the
       Audit/Ethics Committee Chairperson and $10,000 for other
       Committee Chairpersons;

  (ii) following (A) the completion of the reverse merger of the
       Company into a subsidiary of the Company in which the
       Company survives the merger, (B) the Board's adoption of a
       new equity incentive plan, and (C) the effective date of a
       reverse stock split of the Company's common stock, a grant
       of restricted stock units equal to $100,000 divided by
       $0.1134 (the conversion ratio of the Company's Series A
       Convertible Senior Secured Notes), which grant will be
       adjusted proportionately to reflect the reverse stock
       split;

(iii) with respect to the period from Sept. 15, 2011, through the
       date of the annual stockholders' meeting held in 2012, a
       grant of RSUs equal to $83,333 divided by the 30 day
       average closing price preceding the date of grant, to be
       made on the first business day following the annual
       stockholders' meeting held in 2012; and

  (iv) on the first business day following the annual
       stockholders' meeting held in 2013 and annually each year
       thereafter, a grant of RSUs equal to $100,000 divided by
       the 30 day average closing price preceding the date of
       grant.

No additional compensation will be paid for attendance or
participation at Board or committee meetings.

The Company currently intends to hold its 2011 annual
stockholders' meeting on or about Nov. 30, 2011, at the Company's
principal executive offices in Overland Park, Kansas.

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

                        http://is.gd/1vEvQc

                        About YRC Worldwide

Headquartered in Overland Park, Kan., YRC Worldwide Inc. (NASDAQ:
YRCW) -- http://www.yrcw.com/-- is a holding company that through
wholly owned operating subsidiaries offers its customers a wide
range of transportation services.  These services include global,
national and regional transportation as well as logistics.

KPMG LLP's audit reports on the consolidated financial statements
of YRC Worldwide Inc. and subsidiaries for 2009 and 2010 each
contain an explanatory paragraph that states that the Company has
experienced significant declines in operations, cash flows and
liquidity and these conditions raise substantial doubt about the
Company's ability to continue as a going concern.

The Company's balance sheet at June 30, 2011, showed $2.59 billion
in total assets, $2.91 billion in total liabilities and a $328.79
million in shareholders' deficit.

                           *     *     *

In January 2011, Standard & Poor's Ratings Services placed its
'CCC-' corporate credit rating on YRC Worldwide Inc. (YRCW) on
CreditWatch developing.  At the same time, S&P is withdrawing the
existing issue level ratings on Yellow Corp.'s senior unsecured
debt, given the negligible amounts outstanding.

"The ratings on Overland Park, Kan.-based YRCW reflect its near-
term liquidity challenges, meaningful off-balance-sheet contingent
obligations related to multiemployer pension plans, as well as its
participation in the competitive, capital-intensive, and cyclical
trucking industry," said Standard & Poor's credit analyst Anita
Ogbara.  "YRCW's substantial (albeit deteriorating) market
position in the less-than-truckload (LTL) sector, which has high
barriers to entry, partially offsets these characteristics.  We
characterize YRCW's business profile as weak, financial profile as
highly leveraged, and liquidity as weak."

In the Aug. 2, 2011, edition of the TCR, Moody's Investors Service
revised YRC Worldwide Inc.'s Probability of Default Rating ("PDR")
to Caa2\LD ("Limited Default") from Caa3 in recognition of the
agreed debt restructuring which will result in losses for certain
existing debt holders.  In a related action Moody's has raised
YRCW's Corporate Family Rating to Caa3 from Ca to reflect modest
but critical improvements in the company's credit profile that
should result from its recently-completed financial restructuring.
The positioning of YRCW's PDR at Caa2\LD reflects the completion
of an offer to exchange a substantial majority of the company's
outstanding credit facility debt for new senior secured credit
facilities, convertible unsecured notes, and preferred equity,
which was completed on July 22, 2011.

As reported by the TCR on May 5, 2011, Fitch Ratings downgraded
YRC's Issuer default rating to 'C' from 'CC'; Secured bank credit
facility rating downgraded to 'CCC/RR2' from 'B-/RR2'; and Senior
unsecured rating affirmed at 'C/RR6'.  In addition, Fitch has
removed YRCW's ratings from Rating Watch Negative.  Fitch said
that although it appears increasingly likely that the company will
successfully complete the restructuring, until the transactions
constituting the restructuring close, which is not anticipated
until late July 2011, there exists a potential for the transaction
to fail, in which case Fitch expects the company would be forced
to file for Chapter 11 bankruptcy protection.


ZALE CORP: Incurs $32.6 Million Net Loss in July 31 Quarter
-----------------------------------------------------------
Zale Corporation reported a net loss of $32.64 million on $377.26
million of revenue for the three months ended July 31, 2011,
compared with a net loss of $28.52 million on $345 million of
revenue for the same period during the prior year.

The Company also reported a net loss of $112.30 million on $1.74
billion of revenue for the twelve months ended July 31, 2011,
compared with a net loss of $93.67 million on $1.61 billion of
revenue during the prior year.

The Company's balance sheet at July 31, 2011, showed $1.18 billion
in total assets, $977.07 million in total liabilities and $212.82
million in total stockholders' investment.

"In fiscal 2011, we made substantial progress in the multi-year
initiative to return to profitability," commented Theo Killion,
chief executive officer.  "The strength of our assortment,
marketing and field organization position us well to navigate
through the current economic environment."

"This quarter represents the third consecutive quarter of positive
same store sales," commented Matt Appel, chief administrative
officer and chief financial officer.  "Despite the headwinds
imposed by volatility in commodity markets and the overall
economy, our gross margin performance in the quarter and full year
reflects the traction we are gaining in the marketplace."

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

                       About Zale Corporation

Based in Dallas, Texas, Zale Corporation (NYSE: ZLC) --
http://www.zalecorp.com/-- is a specialty retailer of diamonds
and other jewelry products in North America, operating
approximately 1,900 retail locations throughout the United States,
Canada and Puerto Rico, as well as online. Zale Corporation's
brands include Zales Jewelers, Zales Outlet, Gordon's Jewelers,
Peoples Jewellers, Mappins Jewellers and Piercing Pagoda.  Zale
also operates online at http://www.zales.com/,
http://www.zalesoutlet.com/,
http://www.gordonsjewelers.com/and http://www.pagoda.com/

Zale reported a net loss of $93.67 million on $1.62 billion of
revenues for the year ended July 31, 2010, compared with a net
loss of $166.35 million on $1.78 billion of revenues for the same
period a year ago.

As reported by the Troubled Company Reporter on February 10, 2010,
The Deal.com's Sara Behunek reported that analysts said bankruptcy
looms for Zale if it fails to restructure its debt and put in
place a solid merchandising strategy.


* Berger Singerman Adds Hahn & Hessen Bankruptcy Pro
----------------------------------------------------
Christopher A. Jarvinen has joined the Florida business law firm
Berger Singerman as a Shareholder and member of the firm's
Business Reorganization Team.  He is resident in the firm's Miami
office.

Mr. Jarvinen was most recently a partner with Hahn & Hessen LLP in
New York, and prior to that, he was an associate at Paul, Weiss,
Rifkind, Wharton & Garrison LLP and the former Kronish Lieb Weiner
& Hellman LLP.  Jarvinen's practice focuses on corporate
reorganization and creditors' rights.  For over a decade, he has
represented debtors, official and unofficial committees and
significant creditors in complex chapter 11 corporate
restructurings, chapter 15 cases and other cross-border insolvency
matters, out-of-court restructurings and bankruptcy-related
litigation.

"We are delighted that Christopher has joined our team," said Paul
Steven Singerman, Co-CEO of Berger Singerman. "In addition to
bringing an extensive background in corporate reorganization,
Christopher possesses a unique depth of cross-border experience
with Brazil and Argentina that will be most helpful to some or our
clients, as well as potential clients and to our firm's efforts to
increase our visibility in matters involving the South American
market."

Among other professional activities, Mr. Jarvinen is a member of
the executive advisory board of the Caribbean Insolvency
Symposium, one of the annual flagship conferences of the American
Bankruptcy Institute.  He also serves on the board of editors of
INTERNATIONAL CORPORATE RESCUE, the U.K.-based bi-monthly, global
journal providing value to practitioners on a wide range of
international corporate rescue and insolvency issues.
Mr. Jarvinen is also a co-founder of the Turnaround Management
Association - Brazil (TMA-Brazil) and serves as its appointed
ambassador to the TMA in the United States.

Mr. Jarvinen is a graduate of Boston College Law School, has
obtained degrees from Brown, Harvard, and Yale universities and
the graduate business school of the Funda‡ao Getulio Vargas
located in Sao Paulo, Brazil and has also attended Columbia
University.  He is admitted to practice in Florida, New York, and
Massachusetts and before the federal courts located in the First,
Second and Eleventh Circuits.

Berger Singerman is a Florida business law firm with more than 60
attorneys working out of offices in Boca Raton, Fort Lauderdale,
Miami and Tallahassee.  Members of the firm have expertise in all
areas of commercial law, including banking, creditors' rights,
business reorganization, bankruptcy, corporate & securities,
dispute resolution and litigation, white collar crime, real
estate, environmental and land use, health care, tax, estate
planning, and probate.


* BOND PRICING -- For The Week From Aug. 29 to Sept. 2, 2011
------------------------------------------------------------

  Company           Coupon   Maturity  Bid Price
  -------           ------   --------  ---------
ACARS-GM              8.10  6/15/2024      1.00
AHERN RENTALS         9.25  8/15/2013     40.40
AMBAC INC             5.95  12/5/2035     14.25
AMBAC INC             6.15   2/7/2087      1.48
AMBAC INC             7.50   5/1/2023     10.00
AMBAC INC             9.38   8/1/2011     10.00
AMBAC INC             9.50  2/15/2021     14.13
AMER GENL FIN         8.10  9/15/2011     99.00
APU-CALL09/11         7.13  5/20/2016    104.00
BANK NEW ENGLAND      8.75   4/1/1999     14.00
BANK NEW ENGLAND      9.88  9/15/1999     14.00
BANKUNITED FINL       6.37  5/17/2012      7.10
BLOCKBUSTER INC      11.75  10/1/2014      3.75
C-CALL09/11           5.50 11/15/2029    100.00
CAPITAL ONE FINL      5.70  9/15/2011    100.00
CAPMARK FINL GRP      5.88  5/10/2012     56.50
CIRCUS & ELDORAD     10.13   3/1/2012     80.90
CONAGRA INC           6.75  9/15/2011    100.17
DECODE GENETICS       3.50  4/15/2011      0.50
DIRECTBUY HLDG       12.00   2/1/2017     34.00
DIRECTBUY HLDG       12.00   2/1/2017     35.00
DUNE ENERGY INC      10.50   6/1/2012     60.49
EDDIE BAUER HLDG      5.25   4/1/2014      5.63
ENERGY CONVERS        3.00  6/15/2013     46.00
EVERGREEN SOLAR       4.00  7/15/2013      6.10
EVERGREEN SOLAR       4.00  7/15/2020     13.00
EVERGREEN SOLAR      13.00  4/15/2015     59.75
FAIRPOINT COMMUN     13.13   4/2/2018      1.25
FREDDIE MAC           2.18  2/19/2014    104.11
GLB AVTN HLDG IN     14.00  8/15/2013     65.00
GLOBALSTAR INC        5.75   4/1/2028     59.75
GREAT ATLA & PAC      6.75 12/15/2012     21.00
HARRY & DAVID OP      9.00   3/1/2013      2.00
HAWKER BEECHCRAF      8.50   4/1/2015     45.75
HAWKER BEECHCRAF      9.75   4/1/2017     38.00
HCP INC               5.95  9/15/2011    100.00
HORIZON LINES         4.25  8/15/2012     70.05
LEHMAN BROS HLDG      3.00 10/28/2012     25.13
LEHMAN BROS HLDG      3.00 11/17/2012     24.25
LEHMAN BROS HLDG      4.70   3/6/2013     21.00
LEHMAN BROS HLDG      4.80  2/27/2013     25.50
LEHMAN BROS HLDG      4.80  3/13/2014     24.00
LEHMAN BROS HLDG      5.00  1/22/2013     25.75
LEHMAN BROS HLDG      5.00  2/11/2013     23.50
LEHMAN BROS HLDG      5.00  3/27/2013     21.50
LEHMAN BROS HLDG      5.00   8/3/2014     25.30
LEHMAN BROS HLDG      5.00   8/5/2015     22.00
LEHMAN BROS HLDG      5.10  1/28/2013     21.63
LEHMAN BROS HLDG      5.15   2/4/2015     25.00
LEHMAN BROS HLDG      5.25   2/6/2012     23.00
LEHMAN BROS HLDG      5.25  1/30/2014     24.25
LEHMAN BROS HLDG      5.25  2/11/2015     25.25
LEHMAN BROS HLDG      5.50   4/4/2016     23.00
LEHMAN BROS HLDG      5.50  2/19/2018     21.63
LEHMAN BROS HLDG      5.55  2/11/2018     21.63
LEHMAN BROS HLDG      5.63  1/24/2013     26.00
LEHMAN BROS HLDG      5.70  1/28/2018     22.13
LEHMAN BROS HLDG      5.75  5/17/2013     24.00
LEHMAN BROS HLDG      5.88 11/15/2017     22.50
LEHMAN BROS HLDG      6.00  7/19/2012     24.50
LEHMAN BROS HLDG      6.00  2/12/2018     21.50
LEHMAN BROS HLDG      6.20  9/26/2014     23.00
LEHMAN BROS HLDG      6.63  1/18/2012     22.50
LEHMAN BROS HLDG      7.00  6/26/2015     23.50
LEHMAN BROS HLDG      7.00 12/18/2015     25.63
LEHMAN BROS HLDG      7.00  4/16/2019     19.00
LEHMAN BROS HLDG      8.05  1/15/2019     20.80
LEHMAN BROS HLDG      8.50   8/1/2015     23.00
LEHMAN BROS HLDG      8.50  6/15/2022     22.38
LEHMAN BROS HLDG      8.80   3/1/2015     24.50
LEHMAN BROS HLDG      9.00   3/7/2023     19.78
LEHMAN BROS HLDG      9.50  1/30/2023     22.63
LEHMAN BROS HLDG      9.50  2/27/2023     21.25
LEHMAN BROS HLDG     10.00  3/13/2023     25.13
LEHMAN BROS HLDG     10.38  5/24/2024     23.50
LEHMAN BROS HLDG     11.00  6/22/2022     23.50
LEHMAN BROS HLDG     11.00  7/18/2022     24.50
LEHMAN BROS HLDG     11.00  3/17/2028     25.50
LEHMAN BROS HLDG     11.50  9/26/2022     21.50
LEHMAN BROS HLDG     18.00  7/14/2023     25.75
LEHMAN BROS INC       7.50   8/1/2026     15.00
LIFEPT VILGE          8.50  3/19/2013     49.50
LOCAL INSIGHT        11.00  12/1/2017      2.25
MAJESTIC STAR         9.75  1/15/2011     18.00
MCMORAN EXPLORAT      5.25  10/6/2011    100.89
MCMORAN EXPLORAT      5.25  10/6/2011     96.61
MDT-CALL09/11         1.25  9/15/2021     99.00
MGIC INVT CORP        5.63  9/15/2011     99.50
MOHEGAN TRIBAL        8.00   4/1/2012     75.25
NEBRASKA BOOK CO      8.63  3/15/2012     61.25
NEBRASKA BOOK CO     10.00  12/1/2011     93.30
NEWPAGE CORP         10.00   5/1/2012     12.00
NEWPAGE CORP         12.00   5/1/2013      1.50
PMI CAPITAL I         8.31   2/1/2027      9.00
PMI GROUP INC         6.00  9/15/2016     26.50
RASER TECH INC        8.00   4/1/2013     29.76
RESTAURANT CO        10.00  10/1/2013     10.00
RIVER ROCK ENT        9.75  11/1/2011     80.20
S0-CALL09/11          5.50 12/15/2028     99.61
SBARRO INC           10.38   2/1/2015      6.80
SO-CALL09/11          5.40   3/1/2033    100.20
TEXAS COMP/TCEH       7.00  3/15/2013     29.00
TEXAS COMP/TCEH      10.25  11/1/2015     37.88
THORNBURG MTG         8.00  5/15/2013     12.00
TIMES MIRROR CO       7.25   3/1/2013     44.90
TOUSA INC             9.00   7/1/2010     15.00
TRICO MARINE          3.00  1/15/2027      1.25
TRICO MARINE SER      8.13   2/1/2013      4.00
VIRGIN RIVER CAS      9.00  1/15/2012     51.00
WCI COMMUNITIES       4.00   8/5/2023      1.57
WESCO INTL            1.75 11/15/2026     89.00
WILLIAM LYON INC      7.50  2/15/2014     23.10
WILLIAM LYON INC     10.75   4/1/2013     27.00
WILLIAM LYONS         7.63 12/15/2012     24.25
WINDERMERE BAPT       7.70  5/15/2012     18.00



                           *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers"
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors" Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Howard C. Tolentino, Joseph Medel C. Martirez, Denise
Marie Varquez, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R.
Villacampa, Sheryl Joy P. Olano, Carlo Fernandez, Christopher G.
Patalinghug, and Peter A. Chapman, Editors.

Copyright 2011.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
Beard at 240/629-3300.


                  *** End of Transmission ***