TCR_Public/110907.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

           Wednesday, September 7, 2011, Vol. 15, No. 248

                            Headlines

155 EAST: Can Use Cash Collateral Until Sept. 14
524 HOWARD: Seeks Dismissal as Lone Asset Foreclosed
3900 BISCAYNE: Plan Outline Hearing Moved After BB&T Claim Trial
8334 LEESBURG: Bankr. Ct. Has No Jurisdiction in 3rd Party Suit
A-POWER: Receives Nasdaq Notice of Noncompliance

ACORN ELSTON: Access to Cash Collateral Extended for Sixth Time
ACORN ELSTON: Stipulation Extending Exclusive Periods Approved
AMERICAN MART: N.D. Tex. Court Confirms Lender's Liquidating Plan
AMERICAN SCIENTIFIC: Amends Q1 Form 10-Q; Posts $2.1MM Net Loss
AMR CORP: American Enters Into MPA with Eagle and Executive

ANGARAKA LIMITED: Court Denies Texas Comptroller Motion to Dismiss
APEX DIGITAL: Exclusive Plan Filing Period Extended to Oct. 11
ARCADIA RESOURCES: To Trade on OTCQB Marketplace
ART ONE: Court OKs Deal Lifting Stay, Dismissing Ch. 11 Case
ATHERTON-NEWPORT: Case Dismissed With No Payment to Investor Group

ATLANTIC/KEARSARGE: Case Summary & 5 Largest Unsecured Creditors
ATRIUM COS: S&P Cuts CCR to 'B-' on Liquidity Constraints
BANNING LEWIS: Wants Until Nov. 22 to Decide on Leases
BELTWAY 8: Friday Hearing on Access to Cash Collateral
BERNARD L. MADOFF: Customers Seek Rehearing by All Circuit Judges

BERTHEL GROWTH: Receiver Signs SPA with CleoNova
BOISE COUNTY, ID: Not Eligible for Chapter 9, Judge Rules
BOWE SYSTEC: Creditors Committee Down to Three Members
BPG PACIFIC: Case Summary & 20 Largest Unsecured Creditors
BPP TEXAS: Exclusivity Period, Cash Use Extended Until Sept. 29

BPP TEXAS: Buyer Asks for More Time to Close on $3.42MM Sale
BUCYRUS COMMUNITY: Plan Disclosures Approved, Hearing on Oct. 4
BUCYRUS COMMUNITY: Settles DIP Financing Disputes
CANO PETROLEUM: Fails to Pay $130,600 Interest Under ARCA
CANTRELL/CUTTER: Case Summary & 20 Largest Unsecured Creditors

CARGO TRANSPORTATION: Lease Decision Extended to Plan Confirmation
CARGO TRANSPORTATION: Committee Can Tap Hill Ward as Counsel
CASCADE BANCORP: To Hold Annual Vote on Executive Compensation
CASELLA WASTE: Moody's Affirms 'B2' Corporate Family Rating
CATHEDRAL CITY: S&P Lowers Rating on Tax Allocation Bonds to 'BB'

CITY NATIONAL BANCSHARES: Incurs $1.1-Mil. 2nd Quarter Net Loss
CLAIRE'S STORES: Files Form 10-Q, Incurs $10.1-Mil. Q2 Net Loss
COLTS RUN: Final Hearing on Cash Collateral to be Held on Sept. 22
CONGRESS SAND: N.D. Tex. Court Confirms Chapter 11 Plan
CORDIA COMMUNICATIONS: Wants Until Jan. 12 to Propose Plan

CORDIA COMMUNICATIONS: Wants Until Nov. 25 to Decide on Leases
CRESCENT OIL: Minotti Fails in Bid to Dismiss Avoidance Suit
CRESCENT RESOURCES: Firm Defends Challenge From Litigation Trust
CUMULUS MEDIA: Sets Sept. 9 as Deadline to Submit Election Forms
DEVELOPING EQUITIES: Plan Outline Hearing Continued Until Oct. 5

DIRECTBUY HOLDINGS: S&P Lowers Corporate Rating to 'CCC'
EL COTIJA: Case Summary & 20 Largest Unsecured Creditors
ELEPHANT & CASTLE: Can Hire Phoenix Management as Advisor
ELEPHANT TALK: Issues 11.6 Million Shares of Common Stock
EMMIS COMMUNICATIONS: Inks 2nd Amended and Restated LLC Agreement

EMMIS COMMUNICATIONS: Receives Non-Compliance Notice from Nasdaq
EMMIS COMMUNICATIONS: LKCM Owns 243,961 Class A Common Shares
EVERGREEN SOLAR: Won't Be Able to Pay Off Debts, Says Analyst
FARENCO SHIPPING: Chapter 15 Case Summary
FIRST FINANCIAL: Posts $11.9-Mil. Second Quarter Net Loss

FIRST FOLIAGE: U.S. Trustee Withdraws Conversion, Dismissal Plea
FLEXERA MERGER: Moody's Assigns 'B3' Corporate Family Rating
FUSION TELECOMMUNICATIONS: Borrows $50,000 from Marvin Rosen
GENBAND HOLDINGS: S&P Affirms 'B' Corporate Credit Rating
GOLDCOAST LIQUIDATING: Plan Confirmation Hearing Set for Sept. 23

GREAT IRISH: Case Summary & 20 Largest Unsecured Creditors
GREYSTONE LOGISTICS: Amends Form 8-K Relating to 2005 Loan Pact
HOLDINGS OF EVANS: Case Summary & 9 Largest Unsecured Creditors
HOWREY LLP: Former CEO Collects $113,000 in August
INCOMING INC: Posts $61,700 Net Loss in 2nd Quarter

INDIANA EQUITY: Has Until Sept. 30 to File Chapter 11 Plan
INDIANA EQUITY: Court Approves Tailwind Services as Fin'l Advisor
INDIO SUN: U.S. Trustee Gets Dismissal of Ch. 11 Cases
INNKEEPERS USA: As Sale Collapses, Asks for More Time to File Plan
JCK HOTELS: Committee Opposes Lender's Plea to Dismiss Case

JELD-WEN INC: Bonds Sale Fails, May Be Forced to File for Ch. 11
KEARSARGE HOUSE: Case Summary & 16 Largest Unsecured Creditors
KT SPEARS: Wants Final Authority to Use RBC Bank Cash Collateral
KT SPEARS: U.S. Trustee Objects to Realtor Application
LABELCORP HOLDINGS: S&P Puts 'B' CCR on CreditWatch Developing

LAX ROYAL: Wants Chapter 11 Case Converted to Chapter 7
LDG MIDWAY: Case Summary & 17 Largest Unsecured Creditors
LENOX 126: Court Approves Griffon's Cash Use Until Oct. 10
LEVI STRAUSS: Richard Kauffman Resigns as Chairman of the Board
LEXI DEVELOPMENT: Has Interim Access to North Bay Cash Collateral

LONGVIEW ALUMINUM: Similarity Approach Upheld in Insider Analysis
LOS ANGELES DODGERS: China-Backed Group Offers $1.2-Bil. for Team
LOS ANGELES DODGERS: Seeks to Hire Covington as Special Counsel
LOS ANGELES DODGERS: Court OKs Morrison as Committee Counsel
LOS ANGELES DODGERS: Court OKs Pinckney as Committee Counsel

LPL HOLDINGS: Moody's Raises Issuer & Debt Ratings to 'Ba2'
LYMAN LUMBER: Hires Eriksson Commercial as Real Estate Consultant
LYMAN LUMBER: Seeks to Hire Hilco Industrial as Auctioneers
LYMAN LUMBER: Can Hire Fredrikson & Byron as Counsel
LYMAN LUMBER: Committee Can Retain Fafinski as Counsel

MCCLATCHY CO: Royal Bank Discloses 4.07% Equity Stake
MCD NC: Case Summary & 2 Largest Unsecured Creditors
MILBANK 505: Case Summary & 20 Largest Unsecured Creditors
MONARCH FLIGHT: Files for Chapter 11 in Delaware
MSR RESORT: Committee Authorized to Retain Togut Segal as Counsel

MUSCLEPHARM CORP: Posts $7.4-Mil. Second Quarter Net Loss
NATTCO LLC: Case Summary & 4 Largest Unsecured Creditors
NEWPAGE CORP: Mill Seeks Creditor Protection in Nova Scotia Court
NORTHGATE CROSSING: Sept. 27 Hearing on Plan Disclosures
OCEAN PLACE: Court Terminates Debtor's Plan Exclusivity

OLIN CORP: S&P Puts 'BB-' Corp. Credit Rating on Watch Positive
ORAGENICS INC: Board Adopts Bonus Plan for President and CEO
OTERO COUNTY: Taps John Wheeler Assoc. as Counsel
OTERO COUNTY: U.S. Trustee Appoints 5-Member Creditor's Panel
PMMB INVESTMENTS: Sansai Japanese Grill in Chapter 11

POPPIES A GOURMET: Case Summary & 20 Largest Unsecured Creditors
PREMIER GOLF: Taps Vance and Associate as Land Planning Firm
QUANTUM FUEL: Withdraws $4.4 Million CEC Loan
RAGLAN ROAD: Files for Chapter 11 Amid Cordish Suit
RANDALL MEDD: Buried in $21.8MM Debt, Files for Chapter 11

RALPH DEVITA: Trustee Wants Court to Convert Case to Chapter 7
ROBB & STUCKY: U.S. Trustee Wants Case Converted to Chapter 7
ROSEWOOD AT PROVIDENCE: Must Obtain Court Approval for Plan
ROYAL HOSPITALITY: Authorized to Tap BST Valuation as Accountant
SACRAMENTO COUNTY: S&P Lowers Rating on Revenue Bonds to 'BB'

SEP RIVERPARK: Withdraws Plan Documents As New Mgmt. Takes Over
SEQUENOM INC: Obtains Cease-and-Desist Order from SEC
SHANE'S FLIGHT: Voluntary Chapter 11 Case Summary
SHENGDATECH INC: U.S. Trustee Appoints 3-Member Creditors Panel
SIONIX CORP: Posts $2.6 Million Net Loss in Q3 Ended June 30

SOLYNDRA LLC: Solar-Panel Maker in California Seeks Bankruptcy
SOLYNDRA LLC: Case Summary & 35 Largest Unsecured Creditors
STAFF USA: Case Summary & 20 Largest Unsecured Creditors
STILLWATER INVESTMENT: Files for Chapter 11 Bankruptcy Protection
SUNNYVALE BUSINESS: Wants Kalinowski & Associates as Appraiser

SUNNYVALE BUSINESS: Authorized to Tap Altfeld as Counsel
SUNNYVALE BUSINESS: Gets First Dartmouth as Restructuring Advisor
SWEET HOSPITALITY: Comfort Suites Hotel Owner in Chapter 11
SYNTAX-BRILLIAN: SEC Sues Five Former Executives and Board Members
TCI LUNA: Case Summary & 11 Largest Unsecured Creditors

TOP NOTCH: Case Summary & 5 Largest Unsecured Creditors
TP INC: Ch. 11 Trustee Seeks to Tap Crescent Communities as Broker
TRIKEENAN TILEWORKS: Hornell IDA Set to Start Operations
TV LLC: Fights Multimillion-Dollar Project With El Monte
URBAN WEST: Has Plan Filing Exclusivity Until Oct. 7

US POSTAL SERVICE: Couldn't Make $5.5-Bil. Payment Due This Month
USA UNITED: Court Allows MV Transportation to Acquire Assets
VALCOM, INC: Has Reduced Debt, Sees Further Growth
VAN HAM: Ohio Approves Renewal of Dairy Permits
VERSATILE CARD: Files for Bankruptcy, Seeks Stability

VERTRUE LLC: S&P Lowers CCR to 'CCC+' on Weakening Liquidity
WASHINGTON LOOP: Employs Palm Harbor Law Group as Counsel

* Delaware LLC Creditors No Standing to Assert Derivative Claims

* S&P's 2011 Global Corp Default Tally Remains at 26
* S&P: Default Rate Decline to an Estimated 2% in August
* Georgia Commerce Buys 2 Closed Banks; Year's Failures Now 70

* Strategic Value Partners to Exit Liberty Electric Investment
* Best Lawyers in America Recognizes 65 Bracewell Attorneys
* Lowell Directing Troubled Properties to Receivers

* Upcoming Meetings, Conferences and Seminars

                            *********

155 EAST: Can Use Cash Collateral Until Sept. 14
------------------------------------------------
Judge Bruce A. Markell of the U.S. Bankruptcy Court for the
District of Nevada authorized 155 East Tropicana, LLC, and 155
East Tropicana Finance Corp. to use, on an interim basis, cash
collateral of their prepetition lenders until Sept. 14, 2011.

The cash collateral will be used to pay the costs of
administration and to operate the Debtors' businesses in the
ordinary course.

A final hearing will be held on Sept. 14, at 9:00 a.m.

                      About 155 East Tropicana

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

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

Brigid M. Higgins, Esq., at Gordon & Silver, Ltd., in Las Vegas,
Nevada, serves as counsel to the Debtors in the Chapter 11 cases.
Garden City Group, Inc., is the claims agent.

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


524 HOWARD: Seeks Dismissal as Lone Asset Foreclosed
----------------------------------------------------
524 Howard LLC asks the Hon. Dennis Montali of the U.S. Bankruptcy
Court for the Northern District of California to dismiss its
Chapter 11 case because the Court ordered relief from stay and
Redwood Mortgage thereafter conducted a non-judicial foreclosure
sale of the property.

The Debtor therefore no longer owns the property, and the estate
has no interest in it.

The Debtor says the reasons for bankruptcy no longer exist by
virtue of the resolution of the Redwood Mortgage dispute.  The
debtor has a small number of creditors and small amount of funds
and is in a position to resolve its creditor claims outside of
bankruptcy.

A hearing is set for Sept. 16, 2011, at 10:00 a.m., 235 Pine
Street, 22nd Floor, to consider the Debtor's request.

                       About 524 Howard, LLC

524 Howard, LLC, owner of a real property located at 524
Howard Street, in San Francisco, California, filed for Chapter
11 bankruptcy protection (Bankr. N.D. Calif. Case No. 11-30594) on
Feb. 17, 2011.  Iain A. Macdonald, Esq., and Reno F.R. Fernandez,
Esq., at Macdonald and Associates, in San Francisco, serve as the
Debtor's bankruptcy counsel.  Napoleon L. Forte is the appraiser
for the property.

An affiliate, CMR Mortgage Fund, LLC, sought Chapter 11 protection
(Bankr. N.D. Calif. Case No. 08-32220) on Nov. 18, 2008.
Affiliates CMR Mortgage Fund II, LLC (Bankr. N.D. Calif. Case No.
09-30788) and CMR Mortgage Fund III, LLC (Bankr. N.D. Calif. Case
No. 09-30802) filed Chapter 11 petitions on March 31, 2009.

524 Howard disclosed $38,859,147 in assets and $29,326,164 in
liabilities as of the Chapter 11 filing.


3900 BISCAYNE: Plan Outline Hearing Moved After BB&T Claim Trial
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Florida
ruled that it will consider adequacy of the Disclosure Statement
explaining 3900 Biscayne, LLC's proposed Chapter 11 Plan after the
adjudication of an adversary proceeding.

The Court, noting the agreement of the Debtor, creditor Branch
Banking and Trust Company, the U.S. Trustee, the Flackses, and the
tax collector, ordered that:

   -- the Debtor will file an adversary proceeding to determine
      the validity, priority and extent of BBT's lien against the
      Debtor;

   -- BBT's motion to dismiss the Debtor's case and motion for
      relief from automatic stay or in the alternative motion for
      adequate protection will be rescheduled to a date after the
      adjudication of the adversary proceeding; and

   -- BB&T's deadline to make the 1111(B) election is extended to
      10 business days after the date of the final hearing on the
      approval of the Debtor's Disclosure Statement.

Pursuant to the parties' agreement, the hearing on the Disclosure
Statement will not take place until a date after the Court's
determination of BB&T's claims.

As reported in the Troubled Company Reporter on June 29, 2011,
under the Plan, BB&T's allowed secured claim arising out of a note
in the principal amount of $10,800,000 will be paid in full,
including note rate interest, with a 25-year amortization and a 4-
year balloon.  To the extent that the Debtor's rental income and
the proceeds from the "third party litigation claims" are
insufficient to pay BB&T's claim, the deficiency will be treated
as an unsecured claim.

Holders of allowed general unsecured claims will be paid in full
within 4 years from the Effective Date.

Holders of equity interests will retain their interests.

A copy of the Disclosure Statement is available at:

           http://bankrupt.com/misc/3900biscayne.DS.pdf

                     About 3900 Biscayne, LLC

3900 Biscayne, LLC, is a Florida limited liability company which
owns real property located at 3900 Biscayne, in Miami, currently
leased to Miami Arts, Inc., a tuition-free public charter school
offering college-preparatory academic curriculum and conservatory-
style training in the visual and performing arts.  The Company
filed a Chapter 11 petition (Bankr. S.D. Fla. Case No. 11-22948)
on May 12, 2011, in Miami, Florida.  Judge A. Jay Cristol presides
over the case.  James C. Moon, Esq., and Peter D. Russin, Esq., at
Meland Russin & Budwick, P.A., in Miami, represent the Debtor in
its Chapter 11 effort.  The Debtor disclosed $14,857,484 in total
assets and $13,691,533 in total liabilities as of the Chapter 11
filing.


8334 LEESBURG: Bankr. Ct. Has No Jurisdiction in 3rd Party Suit
---------------------------------------------------------------
Bankruptcy Judge Paul Mannes, citing Stern v. Marshall, 131 S.Ct.
2594 (2011), said the Bankruptcy Court is without power to enter a
final order as to either a third party complaint filed by Cathay
Bank against Nasrin Parvizian or the bank's counterclaim in the
underlying lawsuit filed by 8334 Leesburg Pike Associates, in the
absence of express consents from the parties given under Fed. Rule
of Bankruptcy Proc. 7008(a) and 7012(b).  Judge Mannes held that
the order disposing of the Complaint will not be final without a
district judge's de novo review of the court' proposed findings
and conclusions to which any party has timely and specifically
objected.

The complaint styled, 8334 LEESBURG PIKE ASSOCIATES, Plaintiff and
Counter-Defendant, v. CATHAY BANK, Defendant and Counter-
Plaintiff, v. NASRIN PARVIZIAN, Third-Party Defendant, Adv. Proc.
No. 11-0411 (Bankr. D. Md.), seeks, pursuant to 11 U.S.C. Sec.
544, avoidance of a lien allegedly creating a cross pledge
agreement, declaratory relief to void the cross pledge agreement,
and disallowance of the claim of Cathay Bank.  Cathay Bank filed
an answer generally denying the allegations of the Complaint as
well as a Counterclaim seeking a declaratory judgment that a
certain cross pledge agreement is a valid and enforceable
obligation of the Debtor and WL Plaza LLC and that the lien held
by Cathay Bank is properly perfected and that it is entitled to
the net proceeds following sale of WL Plaza, the subject property.
Cathay Bank also filed a Third Party Complaint against Nasrim
Parvizian, a general partner of the Debtor and a guarantor of the
obligations sought to be enforced.  Judge Mannes said the
Counterclaim filed by Cathay Bank is a related matter to the
bankruptcy case under Chapter 11, and not a core proceeding.

Cathay Bank has suggested that judicial efficiency will be served
by having the Bankruptcy Court decide the dispute between two non-
debtor parties.  Judge Mannes sees it otherwise in an Aug. 26,
2011  Memorandum of Decision, a copy of which is available at
http://is.gd/0DODNhfrom Leagle.com.

                About 8334 Leesburg Pike Associates

8334 Leesburg Pike Associates in Chevy Chase, Maryland, filed for
Chapter 11 bankruptcy (Bankr. D. Md. Case No. 11-19734) on May 10,
2011.  Alan M. Grochal, Esq., at Tydings and Rosenberg, serves as
bankruptcy counsel to the Debtor.  In its petition, the Debtor
estimated $1 million to $10 million in both assets and debts. The
petition was signed by Abdolreza Parvizian, managing partner.


A-POWER: Receives Nasdaq Notice of Noncompliance
------------------------------------------------
A-Power Energy Generation Systems, Ltd., a leading provider of
distributed power generation systems in China and a manufacturer
of wind turbines, disclosed that on Sept. 1, 2011, it received a
determination letter from the Staff of The Nasdaq Stock Market
LLC.

The Nasdaq Staff indicated in its letter that the continued
listing of the Company's securities on Nasdaq is no longer
warranted based on certain circumstances surrounding the
resignation of the Company's independent auditor, MSCM LLP, on
June 26, 2011, as well as the circumstances surrounding the
Company's recent director resignations.  The Staff's determination
is based on the authority granted to Nasdaq under Listing Rule
5101.

In addition, the Staff determined that Company's failure to timely
file with the SEC the Form 20-F for the year ended December 31,
2010, as required by Listing Rule 5250(c), constitutes a separate
basis for delisting.

Accordingly, unless the Company requests a hearing before a Nasdaq
Listing Qualifications Panel by September 8, 2011, its securities
would become subject to suspension followed by delisting.  The
Company's securities are presently in a trading halt.

The Company intends to timely request a hearing before the Panel,
at which it will respond to the concerns raised by the Staff and
request continued listing pending the filing of its Form 20-F. As
part of the request to the Nasdaq Hearings Department, the Company
will also request that any suspension of the Company's securities
be stayed at least until the Panel renders its determination
following the hearing.  In the event that the Panel does not grant
this request and the Company's securities are suspended in advance
of the hearing, the Company's securities would become eligible for
trading in the over-the-counter market.  Notwithstanding, the
hearing would go forward and the Panel would have the ability to
terminate the suspension and reinstate trading on Nasdaq, if so
inclined based on the information provided at the hearing.  There
can, however, be no assurance that the Panel will grant the
Company's request for continued listing.

                         About A-Power

A-Power Energy Generation Systems, Ltd., through its China-based
operating subsidiaries, is a leading provider of distributed power
generation systems in China and is expanding into the production
of alternative power generation systems.  Focusing on energy-
efficient and environmentally friendly distributed power
generation projects of 25 to 400 megawatts, A-Power also operates
one of the largest wind turbine manufacturing facilities in China.
A-Power acquired Evatech Co. Ltd., a designer and manufacturer of
industrial equipment for amorphous-silicon photovoltaic panels, in
January 2010.


ACORN ELSTON: Access to Cash Collateral Extended for Sixth Time
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
entered, on Aug. 17, 2011, a sixth interim order, granting Acorn
Elston, LLC, permission to continue using cash collateral of Road
Bay Investments, LLC, as successor-in-interest to Allstate Life
Insurance Company, nunc pro tunc, for the period from Aug. 1,
2011, through the earliest to occur of (a) the entry by the Court
of an order terminating the Receiver's use of cash collateral; (b)
the entry by the Court of a final order granting to the Lender
relief from the automatic stay; and (c) Aug. 31, 2011.

As reported in the TCR on Feb. 14, 2011, Road Bay contends that,
as of the Petition Date, it is owed by the Debtor $18.0 million
pursuant to a $15 million Mortgage Note, dated April 19, 2007.
The obligations of the Debtor under the Note are guaranteed by
John B. Coleman, the sole member of the Debtor.

As adequate protection for any diminution in value of Road Bay's
collateral, the Debtor will grant the lender perfected
postpetition security interests and superpriority administrative
claim status, subject to carve-out.  As further adequate
protection, the receiver will provide adequate protection payments
to the lender in the form of (i) monthly payments (calculated at
the non-default contract rate of 5.93% on a principal sum of
$15.9 million) in the amount of $78,700.

                    About Acorn Elston, LLC

New York City-based Acorn Elston, LLC, owns the Elston Plaza
Shopping Center, a grocery-anchored retail shopping center in
Chicago, Illinois.  The Company filed for Chapter 11 protection
(Bankr. S.D.N.Y. Case No. 10-14807) on Sept. 11, 2010.
Cadwalader, Wickersham & Taft LLP, in New York, was tapped to
represent the Debtor in the Chapter 11 case effective April 19,
2011, after Kasowitz Benson Torres & Friedman withdrew as counsel.
The Debtor also tapped The Reznick Group as its accountant, D.E.
Shaw Real Estate Adviser LLC as its financial advisor, and
Weitzman Group, Inc., as its appraiser.

The Debtor disclosed $21,929,346 in assets and $16,488,389 in
liabilities as of the Chapter 11 filing.

The Court appointed C. Michelle Panovich as receiver with respect
to the Elston Plaza Shopping Center, and its rents, income and
proceeds.


ACORN ELSTON: Stipulation Extending Exclusive Periods Approved
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
has approved a stipulation among Acorn Elston, LLC, Lender Road
Investments, LLC, and John B. Coleman, the Debtor's sole
shareholder and managing member, as guarantor of certain of the
obligations of the Debtor, extending the Debtor's exclusive filing
period and exclusive solicitation period through and including the
earlier of (i) Nov. 30, 2011, the Sale Process End Date, and (ii)
the Early Termination Date.

Pursuant to the stipulation, no later than Sept. 22, 2011, the
Debtor will have (i) selected the prospective purchaser offering
the best and highest aggregate purchase price for substantially
all of the Debtor's assets, which aggregate purchase price will be
in an amount not less than $16,850,000; (ii) executed a binding
term sheet with the successful purchaser with respect to the sale
of the assets at the sale price; and (iii) if third party
financing is required, received an execute commitment letter for a
financial institution with respect to any contemplated third-party
financing.

The Parties agree that on or before Nov. 7, 2011,

(i) the Debtor will have filed with the Court the definitive
documentation evidencing:

(A) the proposed sale to the successful purchaser, executed by
     the Debtor and the successful purchaser, and

(B) the proposed funding of the Jewel Escrow, executed by the
     person or entity to provide such funding, in each case
     consistent with the Term Sheet and this stipulation,
     satisfactory to the Debtor and Coleman, and reasonably
     satisfactory to the Lender (the "Definitive Documentation");
     and

(ii) the successful purchaser will have completed all of
its due diligence with respect to the proposed sale, or if the
successful purchaser has not completed its due diligence with
respect to the proposed sale as of said date, the successful
purchaser will have waived its right to terminate the Definitive
Documentation on account of any outstanding due diligence.

Within five (5) business days after the date upon which the
Definitive Documentation is filed with the Court, the Court will
have approved the sale and entered the sale order.

No later than Nov. 30, 2011, the consummation of the sale will
have occurred.

A copy of the Stipulation, Agreement and Order is available at:

       http://bankrupt.com/misc/acornelston.stipulation.pdf

                    About Acorn Elston, LLC

New York City-based Acorn Elston, LLC, owns the Elston Plaza
Shopping Center, a grocery-anchored retail shopping center in
Chicago, Illinois.  The Company filed for Chapter 11 protection
(Bankr. S.D.N.Y. Case No. 10-14807) on Sept. 11, 2010.
Cadwalader, Wickersham & Taft LLP, in New York, was tapped to
represent the Debtor in the Chapter 11 case effective April 19,
2011, after Kasowitz Benson Torres & Friedman withdrew as counsel.
The Debtor also tapped The Reznick Group as its accountant, D.E.
Shaw Real Estate Adviser LLC as its financial advisor, and
Weitzman Group, Inc., as its appraiser.

The Debtor disclosed $21,929,346 in assets and $16,488,389 in
liabilities as of the Chapter 11 filing.

The Court appointed C. Michelle Panovich as receiver with respect
to the Elston Plaza Shopping Center, and its rents, income and
proceeds.


AMERICAN MART: N.D. Tex. Court Confirms Lender's Liquidating Plan
-----------------------------------------------------------------
Bankruptcy Judge Stacey Jernigan confirmed an Amended Plan of
Liquidation for American Mart Hotel Corp. d/b/a Comfort Inn of
Denver, filed on April 8, 2011, by lender Bank of New York Mellon
as successor to Bank of New York - Global Corporate Trust, as
Trustee for the Registered Certificate holders of Commercial
Capital Access One, Inc. Commercial Mortgage Bond, Series 3,
acting through its Special Servicer, Berkadia Commercial Mortgage,
LLC.  The Plan allows the Lender's claims for principal
($2,895,427.35), interest ($246,863.33), and default interest
($176,343.68).  It provides for the appointment of a liquidating
trustee to market the Debtor's assets for a six-month period.  The
Court's ruling, among others, held that Plan satisfies the "Best
Interest of Creditors" requirement under section 1129(a)(7) of the
Bankruptcy Code.  Holders of Claims and Equity Interests in all
Classes will receive at least as much under the Plan as they would
have under a chapter 7 liquidation.  No other Plans were filed in
the case.

A copy of the Court's Sept. 2, 2011 Findings of Fact, Conclusions
of Law, and Order Confirming the Plan is available at
http://is.gd/QlVt6tfrom Leagle.com.

American Mart Hotel Corp., d/b/a Comfort Inn of Denver, filed
for Chapter 11 bankruptcy protection (Bankr. N.D. Tex. Case No.
10-36776) on Aug. 26, 2010.  John P. Lewis, Jr., Esq. --
jplewisjr@mindspring.com -- serves as the Debtor's counsel.  In
its petition, the Debtor estimated $1 million to $10 million in
assets and debts.  The petition was signed by Craig E. Landess,
vice president.

The lender and plan proponent, Bank of New York Mellon as
successor to Bank of New York - Global Corporate Trust, as Trustee
for the Registered Certificate holders of Commercial Capital
Access One, Inc. Commercial Mortgage Bond, Series 3, acting
through its Special Servicer, Berkadia Commercial Mortgage,
LLC, is represented by John C. Leininger, Esq. --
john.leininger@bryancave.com -- at Bryan Cave LLP, in Dallas,
Texas.


AMERICAN SCIENTIFIC: Amends Q1 Form 10-Q; Posts $2.1MM Net Loss
---------------------------------------------------------------
American Scientific Resources, Incorporated, filed with the U.S.
Securities and Exchange Commission Amendment No. 1 to its
quarterly report on Form 10-Q for the quarter ended March 31,
2011, in order to amend and restate (i) the unaudited financial
statements and footnotes thereto, and (ii) corresponding changes
in Item 2 - Management's Discussion and Analysis of Financial
Condition and Results of Operations.  Those amendments are
necessary in order to account for re-calculation of derivative
liabilities.

The Company's restated statement of operations reflects a net loss
applicable to common shareholders of $2.13 million on $101,247 of
net products sales for the three months ended March 31, 2011,
compared with a net loss of $1.1 million on $101,247 of product
sales, as originally reported.

The Company's restated balance sheet at March 31, 2011, showed
$1.02 million in total assets, $7.62 million in total liabilities
and a $6.60 million total shareholders' deficit, compared with
$1.0 million in total assets, $6.0 million in total liabilities,
and a stockholders' deficit of $5.0 million, as previously
reported.

A full-text copy of the amended Form 10-Q is available for free at
http://is.gd/8G4zRh

                     About American Scientific

Weston, Fla.-bases American Scientific Resources, Inc., provides
healthcare and medical products.  The Company develops,
manufactures and distributes healthcare and medical products
primarily to retail drug chains, retail stores specializing in
sales of products for babies and medical supply dealers.  The
Company does sub-component assembly and packaging for the
Disintegrator product line.  All of the Company's other products
are manufactured by third parties.  The Company was comprised of
three subsidiaries: (i) Kidz-Med, Inc., (ii) HeartSmart, Inc., and
(iii) Ulster Scientific, Inc., of which only Kidz-Med was active
until Dec. 31, 2010.  All subsidiaries are currently inactive.

The Company's balance sheet at June 30, 2011, showed $1.38 million
in total assets, $9.28 million in total liabilities, and a
$7.90 million total shareholders' deficit.

Rosenberg Rich Baker Berman & Company, in Somerset, New Jersey,
expressed substantial doubt about American Scientific Resources'
ability to continue as a going concern, following the Company's
2010 results.  The independent auditors noted that the Company has
suffered recurring losses, its current liabilities exceed its
current assets and it is in default with certain of its
obligations.


AMR CORP: American Enters Into MPA with Eagle and Executive
-----------------------------------------------------------
On Aug. 11, 2011, AMR Eagle Holding Corporation filed a Form 10
registration statement with the Securities and Exchange Commission
in connection with a potential spin-off of AMR Eagle.  As was
disclosed at the time of the Form 10 filing, while AMR Eagle's
wholly-owned subsidiaries, American Eagle Airlines, Inc., and
Executive Airlines, Inc., are expected to continue to operate all
of the Jet Aircraft, those aircraft and the associated
indebtedness are expected to be transferred to American Airlines,
Inc., pursuant to the Purchase Agreement.  AMR Corporation, the
parent of American and AMR Eagle, currently guarantees the
indebtedness relating to each Jet Aircraft, and AMR will continue
to guarantee such indebtedness following American's purchase of
each Jet Aircraft subject to such indebtedness.  Ownership of the
Jet Aircraft by American is intended to provide American control
over the regional aircraft that are pivotal to its network and to
protect AMR's position as the guarantor of the related
indebtedness.

As contemplated by the Form 10, on Aug. 31, 2011, American entered
into a Master Purchase Agreement with Eagle and Executive.
Pursuant to the Purchase Agreement, Eagle will sell to American,
and American will purchase from Eagle, 47 CRJ-700 jet aircraft and
216 Embraer 135, 140 and 145 jet aircraft, including the engines
installed on each such aircraft and other related assets.  In
addition, Eagle and Executive will sell to American, and American
will purchase from Eagle and Executive, certain specified fixed
assets, generally consisting of equipment and leasehold
improvements owned by Eagle or Executive and used in connection
with the regional flight operations conducted by Eagle and
Executive on American's behalf and the ground handling operations
of Eagle and Executive.

Pursuant to the Purchase Agreement, each Jet Aircraft will be
purchased by American on the date of delivery of such aircraft to
American, and the Other Assets will be purchased by American ten
days after delivery of the last Jet Aircraft to American, subject
in each case to the satisfaction of certain conditions. Delivery
of the Jet Aircraft began on Aug. 31, 2011, and the last Jet
Aircraft is expected to be delivered on or about Oct. 15, 2011.
Following the delivery of each Jet Aircraft, American will lease
the Jet Aircraft to Eagle, and Eagle will agree to provide certain
regional flight operations to American.

Pursuant to the Purchase Agreement, the purchase price for each
Jet Aircraft is equal to its fair market value.  In satisfaction
of the purchase price for each Jet Aircraft, American will take
the Jet Aircraft subject to, and Eagle will be released from, all
outstanding indebtedness relating to the Jet Aircraft.  The
purchase price for the Other Assets is equal to the aggregate net
book value of those assets on Eagle's or Executive's books as of
the date of transfer of such Other Assets to American.

As of June 30, 2011, the aggregate indebtedness related to the Jet
Aircraft was approximately $2.2 billion.  The indebtedness
consists of individual notes for each Jet Aircraft.  The notes are
secured by the related Jet Aircraft and certain other assets, have
either fixed or floating interest rates and mature over various
periods through 2022.  As of June 30, 2011, the fixed rate notes
had effective interest rates ranging from 4.25% to 7.50% and the
floating rate notes had effective interest rates ranging from
0.014% to 2.486%.  The notes include customary terms and
conditions, including customary events of default and certain
cross-default provisions.

To the extent that the aggregate indebtedness relating to the Jet
Aircraft exceeds the aggregate fair market value of the Jet
Aircraft, Eagle will transfer to American an intercompany
receivable that is owed by American to Eagle.  On June 30, 2011,
this intercompany receivable was equal to approximately $293
million.  To the extent that this intercompany receivable is not
sufficient to offset any difference between the aggregate fair
market value of the Jet Aircraft and the aggregate indebtedness
relating to the Jet Aircraft, Eagle will also transfer and assign
to American additional intercompany receivables owed by American
to Eagle so that on the date of delivery of the Other Assets to
American, the sum of the aggregate amount of the intercompany
receivables, the aggregate fair market value of the Jet Aircraft
and the aggregate net book value of the Other Assets transferred
to American pursuant to the Purchase Agreement will equal the
aggregate amount of the outstanding indebtedness relating to the
Jet Aircraft.

                      About AMR Corporation

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

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

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

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

                           *     *     *

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

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


ANGARAKA LIMITED: Court Denies Texas Comptroller Motion to Dismiss
------------------------------------------------------------------
On Aug. 16, 2011, the U.S. Bankruptcy Court for the Northern
District of Texas denied the motion of the Texas Comptroller of
Public Accounts to dismiss Angaraka Limited Partnership's
bankruptcy case with prejudice.

As reported in the TCR on June 24, 2011, in February, the Texas
Comptroller filed a motion seeking a dismissal of the Chapter 11
case.  The Texas Comptroller explained that under the Texas
Business Organizations Code, an entity that has had its corporate
charter forfeited is required to wind up its operations and cease
operating its business in the ordinary course, except to the
extent necessary to wind up its business.

It added that while the Debtor, a dissolved Texas partnership on
the Petition Date, is permitted to file bankruptcy to propose a
liquidating plan under Chapter 11 or a Chapter 7 liquidation, it
is not eligible to file a plan of reorganization under Chapter 11
to carry on its business.

               About Angaraka Limited Partnership

Newport Beach, California-based Angaraka Limited Partnership, in
November 2005, acquired and assumed indebtedness secured by, among
other things, a Deed of Trust on four, Class B/C, garden-apartment
properties located in the Dallas/Fort-Worth Metroplex.  The
Properties -- Woodchase, Clarendon, Keller Oaks, and Sycamore
Hills -- total 750 units and range in date of construction from
1979 to 1983.  The Company filed for Chapter 11 bankruptcy
protection (Bankr. N.D. Tex. Case No. 10-33868) on May 31, 2010.
Vincent P. Slusher, Esq., and J. Seth Moore, Esq., at DLA Piper
LLP US, in Dallas, Texas, assist the Debtor in its restructuring
effort.  The Debtor estimated assets and debts at $10 million to
$50 million.


APEX DIGITAL: Exclusive Plan Filing Period Extended to Oct. 11
--------------------------------------------------------------
On Aug. 30, 2011, the U.S. Bankruptcy Court for the Central
District of California extended Apex Digital, Inc.'s exclusive
periods to file a plan and solicit acceptances of a filed plan
until Oct. 11, 2011, and Dec. 12, 2011, respectively.

In the motion for the extension of its exclusive periods, filed
Aug. 12, 2011, the Debtor relates that it requires additional time
to work with the Official Committee of Unsecured Creditors,
secured creditor Avision Technology Co. Limited and other parties
in interest to formulate a plan that is both realistic and
feasible.

                        About Apex Digital

Walnut, California-based Apex Digital, Inc. -- aka AW XEPA
Technologies Inc., AW Apex R&D Shangai, AW Apex, AW E2Go, AW
Entertainment to Go -- is a privately held company that provides
and markets consumer electronics, including high-definition LCD
televisions, home entertainment media devices, solar powered
lights and digital set top boxes.

Apex Digital filed for Chapter 11 protection (Bankr. C.D. Calif.
Case No. 10-44406) on Aug. 17, 2010.  Philip A. Gasteier, Esq.,
and Juliet Y. Oh, Esq., at Levene, Neale, Bender, Yoo & Brill
L.L.P., in Los Angeles, California, represent the Debtor.  The
Debtor estimated assets and debts at $10 million to $50 million as
of the Petition Date.


ARCADIA RESOURCES: To Trade on OTCQB Marketplace
------------------------------------------------
Arcadia Resources, Inc., announced that it expects that its common
stock will cease trading on the NYSE Amex effective with the open
of business on Sept. 6, 2011.  The Company has been informed that
it is eligible for trading on the OTCQB Marketplace effective with
the market open on Sept. 6, 2011.  The Company's ticker symbol
will change from "KAD" to "KADR".  The Company intends to continue
to file periodic reports with the Securities and Exchange
Commission pursuant to the requirements of the requirements of the
Securities Exchange Act of 1934, as amended.

Operated by OTC Markets Group Inc. the OTCQB is a market tier for
OTC traded companies that are registered and reporting with the
Securities and Exchange Commission.  Investors will be able to
view Real Time Level II stock quotes for the Company at
http://www.otcmarkets.comunder the ticker symbol KADR.

On Aug. 15, 2011, the Company announced that it had informed Amex
of its intent to voluntarily delist from Amex.  On Aug. 25, 2011,
the Company filed a Form 25 with the SEC to voluntarily withdraw
its common stock from listing and registration on Amex.  The
Company expects that its application to withdraw its common stock
from listing on Amex will become effective Sept. 6, 2011.

                      About Arcadia HealthCare

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

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

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

BDO USA, LLP, in Troy, Michigan, expressed substantial doubt about
Arcadia Resources' ability to continue as a going concern.  The
independent auditors noted that the Company has suffered recurring
losses from operations and has a net capital deficiency.


ART ONE: Court OKs Deal Lifting Stay, Dismissing Ch. 11 Case
------------------------------------------------------------
On Aug. 15, 2011, the U.S. Bankruptcy Court for the Northern
District of Texas approved the agreed stipulation resolving the
motion of Cathay Bank for orders (A) dismissing ART One Hickory
Corporation's Chapter 11 case or, in the alternative, (B) (i)
granting Cathay Bank relief from the automatic stay, as to the
mortgaged properties, and (ii) prohibiting the Debtor from using
Cathay Bank's cash collateral.

As reported in the TCR on June 23, 2011, as stipulated, the
parties, among others, agreed:

  -- The automatic stay is lifted as to Cathay Bank and the
     mortgaged properties to permit Cathay Bank to foreclose its
     liens.  Upon the closing of the sale of the properties, the
     Debtor will collect, or cause to be collected, the rents from
     the properties and pay operating expenses from the collected
     rents pursuant to a cash collateral budget, mutually
     agreeable to the Debtor and Cathay Bank.

  -- The Debtor's Chapter 11 case is dismissed effective on
     July 31, 2011.

  -- The Debtor will cause Regis Property Management, LLC, to
     to take any and all actions necessary to insure that TCR,
     Prime, JMJ, UHF, Lawyers Assistance and the Law Offices
     vacate the properties on or before Aug. 31, 2011.

  -- Within 3 business days of the closing of the sale of the
     properties, Cathay Bank will report to the Debtor in writing
     the price paid at the foreclosure sale.  Within 2 business
     days following the receipt of the Sales Report, the Debtor
     or Regis will turn-over, or cause to be turned-over, to
     Cathay Bank any and all cash collateral in their possession,
     including, without limitation, any rents and security
     deposits with respect to the properties.

  -- Effective upon the closing of the sale of the properties by
     Cathay Bank, and except as otherwise expressly provided,
     Cathay Bank and the Debtor forever release one another from
     all claims and obligations relating to the Financing
     Agreements; provided, however, the release provided by Cathay
     Bank does not release the Debtor from any and all claims and
     obligations with respect to any damage by the Debtor and the
     Debtor Related Entities with respect to the properties.

  -- Effective upon the closing of the sale of the properties by
     Cathay Bank, and except as otherwise expressly provided,
     Cathay Bank forever releases TCI from all claims and
     obligations relating to its guarantee of the obligations owed
     to Cathay under the Financing Agreements, including the
     obligations under the TCR Guaranty Agreements; provided,
     however, the release provided by Cathay Bank does not release
     TCR from any and all claims and obligations with respect to
     any damage by the Debtor and the Debtor Related Entities with
     respect to the properties.

As reported in the TCR on June 1, 2011, Cathay Bank asked the
Bankruptcy Court to dismiss the Chapter 11 case of ART One Hickory
Corporation as it was filed in bad faith.

Cathay Bank further asked that it be granted relief from the
automatic stay to continue with the foreclosure/public auction of
the real properties owned by the Debtor and upon which Cathay Bank
holds liens.  The real property are encumbered by, among other
things, liens granted to Cathay Bank by the Debtor in connection
with certain financing provided by Cathay Bank to the Debtor and
over $1 million in tax lien.

Cathay Bank said the case should be dismissed to stop the
substantial and continuing diminution of the Debtor's bankruptcy
estate as it continues to accrue substantial operating expenses
without sufficient income to fund these expenditures.  Cathay Bank
relates that the Debtor lacks any reasonable likelihood of
rehabilitation.

                          About ART One

Fort Worth, Texas-based ART One Hickory Corporation, aka ART Two
Hickory Corporation owns two four-story office buildings in North
Dallas, Texas.  The first is located at 1800 Valley View Lane,
Dallas, Texas 75234, and is approximately 102,612 square feet.
The second is located at 1750 Valley View Lane, Dallas, Texas
75234, and is approximately 96,124 square feet.

ART One filed for Chapter 11 bankruptcy protection (Bankr. N.D.
Tex. Case No. 11-42024) on April 4, 2011.  Robert A. Simon, Esq.,
and Spencer D. Solomon, Esq., at Barlow Garsek & Simon, LLP, in
Fort Worth, Tex., serve as the Debtor's bankruptcy counsel.  The
Debtor disclosed $24,770,573 in assets and $19,558,705 in
liabilities as of the Chapter 11 filing.


ATHERTON-NEWPORT: Case Dismissed With No Payment to Investor Group
------------------------------------------------------------------
Tim McLaughlin at the Boston Business Journal reports that a real
estate company that invested in apartment buildings with Fidelity
Investments recently capped a long-running bankruptcy case with no
current ability to pay several million dollars worth of claims
held by a collection of American sports stars that includes newly
acquired Boston Red Sox pitcher Erik Bedard.

The report says, earlier this month, a judge agreed to dismiss
Atherton-Newport Investments LLC's Chapter 11 bankruptcy case.
The bankruptcy estate has only $888,000 to pay out in
administrative claims.  No money is currently available to pay
back much of the unsecured loans made by an investor group that
includes Bedard, Philadelphia Phillies ace Roy Halladay, former
New York Knicks star Patrick Ewing and several other professional
athletes.

According to the report, Atherton-Newport and Boston mutual fund
giant Fidelity bought five Seattle-area apartment properties for
about $97 million, bankruptcy records show.  Fidelity held a
controlling interest in the properties.

            About Atherton-Newport Investments, L.L.C.

Based in Irvine, California, Atherton-Newport Investments, L.L.C.
-- http://www.atherton-newport.com/-- is a real estate investment
and development company.  Formed in 2001, it has expertise in the
acquisition, rehabilitation, repositioning and management of
multi-family investments, well as the entitlement and development
of infill residential sites.

The Debtor and its debtor-affiliates filed for Chapter 11
protection (Bankr. C.D. Calif. Lead Case No. 08-10230) on Jan. 16,
2008.  Joseph A. Eisenberg, Esq. at Jeffer, Mangels, Butler &
Marmaro, L.L.P., David W. Meadows, Esq. and Stephen R. Wade, Esq.
represnt the Debtors in their restructuring efforts.  In its
schedules, the Debtor disclosed assets of $15.9 million and debts
of $43.9 million.


ATLANTIC/KEARSARGE: Case Summary & 5 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Atlantic/Kearsarge Parking Lot, LLC
        26 Brickyard Court, Suite 6
        York, ME 03909

Bankruptcy Case No.: 11-21277

Chapter 11 Petition Date: August 30, 2011

Court: United States Bankruptcy Court
       Maine (Portland)

Debtor's Counsel: Peter G. Cary, Esq.
                  MITTEL ASEN, LLC
                  85 Exchange Street
                  Portland, ME 04101
                  Tel: (207) 775-3101
                  E-mail: pcary@mittelasen.com

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

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

A list of the Company's five largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/meb11-21277.pdf

The petition was signed by Harold E. Anderson, manager of A-K
Holding Company, LLC.


ATRIUM COS: S&P Cuts CCR to 'B-' on Liquidity Constraints
---------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Dallas-based Atrium Cos. Inc. to 'B-' from 'B'.

"At the same time, we lowered the issue-level rating on the
company's senior secured term loan to 'B-' from 'B'. We also
placed all ratings on Atrium on CreditWatch with negative
implications," S&P related.

"The rating actions follow a recent immigration audit of the
company's Champion Window plant in Houston that we understand led
to the termination of approximately 58% of its workforce," said
Standard & Poor's credit analyst Megan Johnston. The costs
associated with the workforce termination may lead to higher-than-
expected debt and meaningful declines in liquidity and adjusted
EBITDA, which could result in cushion relative to financial
maintenance covenants governing the company's bank credit facility
to be greatly reduced.

"Moreover, our economists have materially lowered their estimate
of housing starts over the next year, which could reduce the
company's earnings below our previous expectations at the same
time covenants periodically tighten. Our economists project that
total housing starts, from which Atrium generates approximately
50% of sales, will be 610,000 in 2011 and 700,000 in 2012. Earlier
this year, our economists projected that housing starts would be
670,000 and 1 million in 2011 and 2012, respectively. Moreover,
repair and remodeling spending is likely to be flat to slightly
down in 2011; previously we had expected growth of 3% to 5%. For
the trailing 12 months ended June 30, 2011, total adjusted
leverage for Atrium was about 6.4x, compared with about 5.8x as of
March 31, 2011, reflecting reduced EBITDA attributed to the issues
at the Champion plant, as well as higher revolver borrowings," S&P
related.

In resolving the CreditWatch listing, Standard & Poor's expects to
meet with Atrium's management to review its financial projections
for cash requirements over the next few months, including costs to
address the immigration issue and discuss the company's ability to
maintain covenant compliance, as well as its near-term operating
outlook given the recent events and still-challenging
operating environment.


BANNING LEWIS: Wants Until Nov. 22 to Decide on Leases
------------------------------------------------------
The Banning Lewis Ranch Company LLC and its debtor-affiliates ask
the U.S. Bankruptcy Court for the District of Delaware to extend
the deadline to assume, assume and assign, or reject unexpired
non-residential real property leases until Nov. 22, 2011.  The
Debtors' current deadline has expired on Aug. 24, 2011.

A hearing is set for Sept. 13, 2011, at 1:00 p.m., to consider the
Debtors' request.

The Debtors said they need their leased office to operate.  The
expense to continue to occupy the leased office is budgeted.
Prior to the assumption of rejection of the lease, the Debtor will
continue to make rental payments as anticipated by their cash
collateral budget.  Therefore, the lessor will continue to be paid
during the extension period.

                        About Banning Lewis

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

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

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

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


BELTWAY 8: Friday Hearing on Access to Cash Collateral
------------------------------------------------------
Beltway 8 Associates, Limited Partnership, asked the U.S.
Bankruptcy Court for the Middle District of Louisiana to extend
its Feb. 15, 2011 Final Order authorizing the Debtor to use cash
collateral of FST Watermarke, LLC, from May 1, 2011, through the
date of the hearing on this motion.  The Court has scheduled a
hearing for Sept. 9, 2011, at 9:00 a.m., to consider the motion.

The Debtor tells the Court that since May 1, 2011, it has
continued to pay operational expenses in connection with the
Watermarke Apartments incurred in the ordinary course of business
in amounts substantially in conformity to the monthly expenses
contained in the Budget attached to the Original Cash Collateral
Order for the three month period from Feb. 1, 2011, through April
30, 2011; but Debtor's counsel failed to seek extension or
amendment of the Budget until the filing of this Motion.

However, the Debtor has furnished FST, through its counsel, with
weekly cash reports each week through the week ending Aug. 13,
2011, as well as monthly operating statements through July 31,
2011, clearly disclosing each and every expenditure made by the
Debtor from alleged cash collateral.

The Debtor alleges that FST's silence and failure to object to
expenditures made by the Debtor and disclosed to FST on and after
May 1, 2011, constitutes tacit consent to the use of its alleged
Cash Collateral thereafter and seeks an Order of this Court
ratifying such use.

Through this motion, Debtor also asks the Court to find that: (1)
a sufficient "equity cushion" exists with respect to the lien
securing the debt due FST based upon the value of the Watermarke
Apartments and the accrued, available cash such that no additional
adequate protection needs to be furnished by the Debtor to protect
the value of the liens held by FST; (2) FST tacitly consented to
the use of its Alleged Cash Collateral for expenditures in the
ordinary course of the Debtor's business after May 1, 2011; and,
FST expressly consented to the use of its alleged Cash Collateral
to pay tax claims totaling $573,871, which were paid from
Jan. 31, 2011, through April 12, 2011.

Further, the Debtor seeks an Order from the Court based upon those
findings that (a) ratifies the Debtor's prior use of alleged cash
collateral in the ordinary course of its business on and after
May 1, 2011, as disclosed in the weekly and monthly reports
furnished by the debtor to FST; (b) ratifies the Debtor's use of
alleged Cash Collateral to pay the tax claims; and, (c) permits
the Debtor to continue to use alleged cash collateral to pay (1)
all ongoing expenses of operation in the ordinary course of
business1 through confirmation of a plan herein whether on or
after Sept. 30, 2011, and (2) to pay all professional fees and
expenses as allowed by this Court, including but limited to the
fees and expenses allowed or to be allowed to SVM, FGM, and CBRE,
together with any other expenditures of the alleged cash
collateral outside of the ordinary course of business that may be
subsequently authorized by this Court.

Through the Original Cash Collateral Order, FST already has a
replacement lien on the Debtor's cash on hand as adequate
protection for the Debtor's use of the alleged cash collateral.

                        About Beltway 8

Baton Rouge, Louisiana-based Beltway 8 Associates, LP, dba
Watermarke Apartments, owns and operates Watermarke Apartments, a
280 unit residential apartment complex located on approximately
15.6 acres in Houston, Texas.  It filed for Chapter 11 bankruptcy
protection (Bankr. M.D. La. Case No. 11-10001) on Jan. 3, 2011.

Patrick S. Garrity, Esq., and William E. Steffes, Esq., at
Steffes, Vingiello & McKenzie, LLC, in Baton Rouge, La., serve as
the Debtor's bankruptcy counsel.  Judge Douglas D. Dodd presides
over the Chapter 11 case.  The Debtor disclosed $25.3 million in
assets and $25.4 million in liabilities as of the Chapter 11
filing.


BERNARD L. MADOFF: Customers Seek Rehearing by All Circuit Judges
-----------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that customers of Bernard L. Madoff Investment Securities
Inc. on the losing side of an Aug. 16 ruling by the U.S. Court of
Appeals in Manhattan filed a motion last week for review of the
case by all active judges on the 2nd Circuit.  The customers
contend, in their motion called a petition for rehearing en banc,
that last month's ruling was in conflict with a 2004 decision from
the same court in a case called New Times Securities Services Inc.

The circuit court had ruled that customers' claims must be
measured by the amount of cash put in less the amount taken out.
The appeals court refused to allow customer claims for fictitious
profits.  Indirectly, the ruling means that customers may be left
with no defenses against lawsuits by the Madoff trustee to recover
fictitious profits.

Mr. Rochelle notes that there is no right for rehearing by all
circuit court judges in Manhattan.  The appeals court will rehear
the case if enough judges believe the opinion by the three-judge
panel might be wrong.  There is no fixed time within which the
appeals court will rule on whether it will hear reargument.

The report relates that the 2nd Circuit seldom rehears cases en
banc. Cases are sometimes reheard if there was a cogent dissent.
In the Madoff case, all three judge were in agreement that
customers had no entitlement to fictional profits.  The opinion
was written by Chief Circuit Judge Dennis Jacobs. Other judges on
the panel were Circuit Judges Reena Raggi and Pierre N. Leval.

                   Dismissal on Technicalities

Mr. Rochelle also reports that in other developments, the Madoff
trustee must contend with another indirect investor who wants a
lawsuit dismissed on technicalities.  Tensyr Ltd., which describes
itself as a structured investment vehicle organized on the island
of Jersey, contends that the trustee's lawsuit, filed in December,
must be dismissed because it lacks enough "meaningful contact"
with the U.S. to pass muster under the Due Process clause of the
federal Constitution.  The trustee in his complaint alleged that
Tensyr "regularly conducted business in New York."

According to the report, Tensyr said it indirectly invested
$450 million in the Madoff Ponzi scheme and took out $30 million.
It claims to be a so-called net loser.

The report relates that the trustee's complaint lays out how
Tensyr's investments with Madoff were made through Fairfield
Sentry Ltd., one of the largest feeder funds into the Madoff firm.
By settling with Fairfield, Tensyr contends, the trustee bartered
away the ability to have a fraudulent-transfer verdict.  The
Madoff trustee may respond to the defense by pointing out how part
of the settlement gave him a $3.05 billion judgment against the
Fairfield funds.

Tensyr, Mr. Rochelle adds, also contends the money it received is
protected by the so-called safe harbor of Section 546(e) of the
U.S. Bankruptcy Code.  Whether the safe harbor applies to a
thoroughgoing fraud like Madoff's is to be decided before the
end of September by U.S. District Judge Jed Rakoff in Manhattan
in the suit against Fred Wilpon, Sterling Equities Inc., the
owners of the New York Mets baseball club and Wilpon's friends,
family and associates.  Tensyr contends that the suit fails
because U.S. bankruptcy law has no applicability outside of the
U.S. The trustee might respond by showing how bankruptcy courts
traditionally contend their powers extend through the world to
anyone who has sufficient contacts with the U.S.

The Madoff trustee must respond to the dismissal motion by Nov. 1.
Tensyr's reply papers are due Dec. 16.

                       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.


BERTHEL GROWTH: Receiver Signs SPA with CleoNova
------------------------------------------------
Berthel SBIC, LLC, is a wholly owned subsidiary of Berthel Growth
& Income Trust I.  The Company previously reported that on
Jan. 27, 2009, the United States Court for the Northern District
of Iowa entered a Consent Order and Judgment by which the court
appointed the United States Small Business Administration as the
receiver for Berthel SBIC.  Berthel SBIC owned 1,899,783 shares of
common stock of CeloNova BioSciences, Inc.  The Securities
represented all of the investment of Berthel SBIC in CeloNova, and
there are no other material relationships between CeloNova and
Berthel SBIC, the Company or any of Berthel SBIC's or the
Company's affiliates, directors, officers or any associate of any
such director or officer.

On Aug. 17, 2011, the Receiver and CleoNova Stent, Inc.,a
subsidiary of CeloNova, entered into a written Securities Purchase
Agreement.  Pursuant to the Agreement, Berthel SBIC transferred
all of its right, title and interest in the Securities to the
Purchaser.  The Purchaser paid $18,997 in cash as the sole
consideration for the transfer of the Securities.  The closing on
the transfer of the Securities pursuant to the Agreement occurred
on Aug. 26, 2011.

                       About Berthel Growth

Based in Marion, Iowa, Berthel Growth & Income Trust I was a
Delaware business trust that has elected to be treated as a
business development company under the Investment Company Act of
1940.  The trust's Registration Statement was declared effective
June 21, 1995, at which time the trust began offering Shares of
Beneficial Interest.  The underwriting period was completed on
June 21, 1997, with a total of $10,541,000 raised.

The trust is a closed-end management investment company intended
as a long-term investment and not as a trading vehicle.

At Sept. 30, 2008, the Trust had $2,760,919 in total assets
and $9,565,186 in total liquidation.


BOISE COUNTY, ID: Not Eligible for Chapter 9, Judge Rules
---------------------------------------------------------
Boise County, Idaho, isn't eligible for Chapter 9 bankruptcy, U.S.
Bankruptcy Judge Terry L. Myers from Boise ruled in a 43-page
opinion on Sept. 2 saying he would dismiss the attempted municipal
reorganization begun March 1, according to reporting by Bill
Rochelle, the bankruptcy columnist for Bloomberg News.

Mr. Rochelle recounts that the county filed for Chapter 9
protection after a developer named Alamar Ranch LLC won a
$4 million judgment for violation of the U.S. Fair Housing Act
with respect to a 72-bed residential treatment center for
teenagers. The county filed under Chapter 9, claiming an inability
to pay the judgment.

Mr. Rochelle notes that unlike companies that can file bankruptcy
even if solvent and paying their debts, municipalities must prove
that they are insolvent, aren't paying debt, or can't pay upcoming
debt maturities.  In the case of Boise County, Judge Myers
concluded that the county was solvent and had been paying debts
when they matured.

Consequently, the case turned on whether the county had the
resources to pay the judgment, with interest.  The county
unsuccessfully argued that cash and investments were restricted
and not available to discharge the judgment.  Judge Myers ruled
that the county hadn't proven that the reserves weren't available.
The county also lost a lawsuit where it attempted to force an
insurance company to pay the verdict.

                     About Boise County, Idaho

Boise County is a rural mountain county in the U.S. state of
Idaho.  The population was 6,670 as of the 2000 census; it was
estimated at 7,571 in 2007.  The county seat is Idaho City, and
Horseshoe Bend is its largest city.

Boise County filed for bankruptcy (Bankr. D. Idaho Case No.
11-00481) on March 1, 2011, making it the first U.S. municipality
to file Chapter 9 this year.  The county estimated assets under
$50,000 and debts of $1 million to $10 million in the Chapter 9
petition.

Statistics from the American Bankruptcy Institute show that only
about 230 municipalities have filed Chapter 9 since 1980.


BOWE SYSTEC: Creditors Committee Down to Three Members
------------------------------------------------------
Roberta A. DeAngelis, the U.S. Trustee for Region 3, has removed
B&H Retirees Settlement Fund and Sefas Innovation, Inc. from the
official committee of unsecured creditors in the Chapter 11 cases
of Bowe Systec, Inc., et al.

The Creditors Committee now comprises:

      1. Choice Precision, Inc.
         Attn: Patrick Thornton
         4380 Commerce Drive
         Whitehall, PA, 18052
         Tel: (610) 502-0994
         Fax: (610) 502-1109

      2. Britech, Inc.
         Attn: Denise McCall
         775 Robel Road
         Allentown, PA 18109
         Tel: (610) 264-5400
         Fax: (610) 264-5398

      3. VI Manufacturing Inc.
         Attn: Paul Ozminkowski
         164 Orchard Street
         Webster, NY 14580
         Tel: (585) 872-550 ext. 22
         Fax: (585) 217-8756

Official creditors' committees have the right to employ legal and
accounting professionals and financial advisors, at the Debtor's
expense.  They may investigate the Debtor's business and financial
affairs.  Importantly, official committees serve as fiduciaries to
the general population of creditors they represent.  Those
committees will also attempt to negotiate the terms of a
consensual Chapter 11 plan -- almost always subject to the terms
of strict confidentiality agreements with the Debtors and other
core parties-in-interest.  If negotiations break down, the
Committee may ask the Bankruptcy Court to replace management with
an independent trustee.  If the Committee concludes reorganization
of the Debtor is impossible, the Committee will urge the
Bankruptcy Court to convert the Chapter 11 cases to a liquidation
proceeding.

                          About Bowe Bell

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

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

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

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

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


BPG PACIFIC: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: BPG Pacific LLC
        1101 Junipero Serra Blvd.
        San Francisco, CA 94132

Bankruptcy Case No.: 11-33251

Chapter 11 Petition Date: September 1, 2011

Court: United States Bankruptcy Court
       Northern District of California (San Francisco)

Judge: Thomas E. Carlson

Debtor's Counsel: Russell Marne, Esq.
                  MARNE LAW GROUP
                  30 N San Pedro Rd. #195
                  San Rafael, CA 94903
                  Tel: (415) 499-8100
                  E-mail: russell@marne.com

Scheduled Assets: $5,127,552

Scheduled Debts: $14,026,503

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/canb11-33251.pdf

The petition was signed by Saeed Ghafoori, manager.


BPP TEXAS: Exclusivity Period, Cash Use Extended Until Sept. 29
---------------------------------------------------------------
The Hon. Brenda T. Rhoades of the U.S. Bankruptcy Court for the
Eastern District of Texas approved and agreement granting BPP
Texas, LLC, et. al., more time to file a plan and access to cash
collateral.

The agreement was entered between the Debtors and Citizens Bank of
Pennsylvania.  At the behest of the parties, the Court extended
until Sept. 29, 2011 the Debtors':

   -- exclusive period to file a Chapter 11 plan;

   -- authority to use Citizens' cash collateral subject to all of
      the protections, requirements, rights, and terms thereof,
      including, but not limited to, the requirement that the
      Debtors pay to Citizens $100,000 per month as adequate
      protection during the extended period, and further including
      all reporting and other requirements thereof; and

   -- automatic stay for the Debtors and their property as to
      Citizens, subject to all of the protections, requirements,
      rights, and terms thereof, including, but not limited to,
      the requirement that the Debtors pay to Citizens monthly
      payments of $9,620 (Minnesota) and $8,015 (Michigan), and
      that the automatic stay will terminate automatically, as
      provided for therein, if the Debtors fail to pay the same,
      fail to pay the $100,000 adequate protection payments
      required by the cash collateral order, or fail to comply
      with any other order that provides for relief from the stay
      upon such failure.

The confirmation hearing on the Debtors' proposed plan of
reorganization is continued until Sept. 26, 28, and 29, 2011.

The Court also ordered that if the confirmation hearing commences
on Sept. 26, the extension will be at a later time as the Court
rules on the confirmation of the Debtors' plan.

                          About BPP Texas

Pittsburgh, Pennsylvania-based BPP Texas, LLC, along with BPP
Illinois, LLC, BPP Iowa, LLC, BPP Michigan, LLC, BPP Minnesota,
LLC, and BPP Wisconsin, LLC, own and operate 22 hotels located in
Texas, Illinois, Iowa, Michigan, Minnesota, and Wisconsin.

BPP Texas and several affiliates filed for Chapter 11 bankruptcy
protection (Bankr. E.D. Tex. Lead Case No. 10-44378) on Dec. 21,
2010.  Davor Rukavina, Esq., and Jonathan Lindley Howell, Esq., at
Munsch Hardt Kopf & Harr, P.C., serve as the Debtors' bankruptcy
counsel.  In its schedules, BPP Texas disclosed $3,731,144 in
assets and $65,892,831 in liabilities as of the petition date.

Affiliates BPP Illinois, BPP Iowa, BPP Michigan, BPP Minnesota,
and BPP Wisconsin filed separate Chapter 11 bankruptcy petitions.
BPP Wisconsin estimated its assets at $10 million to $50 million
and debts at $50 million to $100 million.


BPP TEXAS: Buyer Asks for More Time to Close on $3.42MM Sale
------------------------------------------------------------
The Hon. Brenda T. Rhoades of the U.S. Bankruptcy Court for the
Eastern District Of Texas approved the amendment to sale agreement
extending until Sept. 15, 2011, the closing of the sale of BPP
Texas, LLC, et. al.'s assets.

The agreement was entered among the Debtors, Citizens Bank of
Pennsylvania, and Super 8 Worldwide, Inc., the franchisor.

As reported in the Troubled Company Reporter on July 22, 2011, the
Court authorized the Debtors to sell their Howard Johnson branded
hotel located at 2711 S. Interstate 35, in Austin, Texas, to Super
Success, Inc. for $3,425,000.  The deal provided that closing of
the sale agreement must occur by Aug. 15, 2011.

The Debtors related that the buyer moved towards closing of the
sale agreement.  However, according to the buyer, it has taken
longer than estimated to locate financing for the sale.  The buyer
informed the Debtors, only late in July, that it had secured the
necessary financing.

The Debtors noted that the amendment required the buyer to deposit
an additional $25,000 nonrefundable deposit, which the buyer has
deposited with the Debtors' title company.  The title company is
holding $50,000 in earnest money towards the sale agreement.

                          About BPP Texas

Pittsburgh, Pennsylvania-based BPP Texas, LLC, along with BPP
Illinois, LLC, BPP Iowa, LLC, BPP Michigan, LLC, BPP Minnesota,
LLC, and BPP Wisconsin, LLC, own and operate 22 hotels located in
Texas, Illinois, Iowa, Michigan, Minnesota, and Wisconsin.

BPP Texas and several affiliates filed for Chapter 11 bankruptcy
protection (Bankr. E.D. Tex. Lead Case No. 10-44378) on Dec. 21,
2010.  Davor Rukavina, Esq., and Jonathan Lindley Howell, Esq., at
Munsch Hardt Kopf & Harr, P.C., serve as the Debtors' bankruptcy
counsel.  In its schedules, BPP Texas disclosed $3,731,144 in
assets and $65,892,831 in liabilities as of the petition date.

Affiliates BPP Illinois, BPP Iowa, BPP Michigan, BPP Minnesota,
and BPP Wisconsin filed separate Chapter 11 bankruptcy petitions.
BPP Wisconsin estimated its assets at $10 million to $50 million
and debts at $50 million to $100 million.


BUCYRUS COMMUNITY: Plan Disclosures Approved, Hearing on Oct. 4
---------------------------------------------------------------
Judge Russ Kendig of the U.S. Bankruptcy Court for the Northern
District of Ohio, Eastern Division, Canton, approved the
disclosure statement explaining Bucyrus Community Hospital, Inc.,
and its debtor affiliates' Chapter 11 Plan of Liquidation on
August 1, 2011.

A hearing to consider confirmation of the Plan will be held on
Oct. 14, 2011, at 2:00 p.m.  Objections are due Sept. 27.

The Plan and the Disclosure Statement was filed on June 27, 2011.

The Debtors completed the sale of a substantial portion of their
assets to GCH Acquisition Sub, an affiliate of Galion Community
Hospital on Dec. 31, 2010.  Certain assets were excluded from the
Sale, including but not limited to cash, [insurance proceeds, and
amounts due to a Debtor from intercompany transactions.]  The
Debtors have ceased operations as a healthcare provider (such
services now being provided by GCH Acquisition Sub) and the
Debtors continue to wind down their affairs.

Pursuant to the Plan, the U.S. Department of Housing and Urban
Development, holder of a $21.7 million secured claim, will receive
a cash payment of $5.56 million from the net sale proceeds, for a
25.57% recovery and the deficiency claim to be treated as an
unsecured claim (Class 6).  HUD is not expected to receive any
projected recovery on account of its $20.3 million unsecured
claim.

The allowed claims of general unsecured creditors (Class 5) will
not be paid in full under the Plan due to insufficient fund from
the liquidation of the Debtors' assets.  Estimated recovery is for
unsecured creditors 0% to 3.28%, assuming no available D&O
proceeds or proceeds from causes of action.  Holders of equity
interests won't receive any distributions.

A copy of the Disclosure Statement is available at:

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

                 About Bucyrus Community Hospital

Bucyrus, Ohio-based Bucyrus Community Hospital, Inc., filed for
Chapter 11 bankruptcy protection (Bankr. N.D. Ohio Case No. 10-
61078) on March 19, 2010.  Shawn M. Riley, Esq., Paul W. Linehan,
Es., and Melissa S. Gibberson, Esq., at McDonald Hopkins LLC, in
Cleveland, Ohio, assist the Debtor in its restructuring effort.
The Debtor estimated its assets and debts at $10 million to
$50 million as of the Chapter 11 filing.

The Company's affiliate, Bucyrus Community Physicians, Inc., filed
a separate Chapter 11 petition (Case No. 10-61081) on March 19,
2010, estimating its assets and debts at up to $1 million.

Attorneys at Frost Brown Todd LLC represent the Official Committee
of Unsecured Creditors as counsel.


BUCYRUS COMMUNITY: Settles DIP Financing Disputes
-------------------------------------------------
Bucyrus Community Hospital, Inc., and its debtor affiliates seek
authority from Judge Russ Kendig of the U.S. Bankruptcy Court for
the Northern District of Ohio, Eastern Division, Canton, to settle
their disputes with United Bank division of The Park National Bank
and Lancaster Pollard Mortgage Company.

The settlement provides for the distribution of certain amounts
from the adequate protection escrow, created pursuant to the DIP
Financing Order: $347,500 to United and $177,459 to Lancaster
Pollard, or the remaining balance in the Escrow, whichever amount
is greater.

The settlement also provides for the reduction of the claim amount
asserted by Lascaster Pollard in Claim No. 185 to $177,459 and the
re-classified of the claim from a secured claim to an unsecured
claim.  United's Claim No. 61 will also be reduced by $347,500 and
classified as an unsecured claim.

Upon the full distribution of the Escrow, BCH, Lancaster Pollard
and United will dismiss the adversary proceeding United commenced
in August last year with prejudice and with each party bearing its
own attorney's fees and costs.

                 About Bucyrus Community Hospital

Bucyrus, Ohio-based Bucyrus Community Hospital, Inc., filed for
Chapter 11 bankruptcy protection (Bankr. N.D. Ohio Case No. 10-
61078) on March 19, 2010.  Shawn M. Riley, Esq., Paul W. Linehan,
Esq., and Melissa S. Gibberson, Esq., at McDonald Hopkins LLC, in
Cleveland, Ohio, assist the Debtor in its restructuring effort.
The Debtor estimated its assets and debts at $10 million to
$50 million as of the Chapter 11 filing.

The Company's affiliate, Bucyrus Community Physicians, Inc., filed
a separate Chapter 11 petition (Case No. 10-61081) on March 19,
2010, estimating its assets and debts at up to $1 million.

Attorneys at Frost Brown Todd LLC represent the Official Committee
of Unsecured Creditors as counsel.


CANO PETROLEUM: Fails to Pay $130,600 Interest Under ARCA
---------------------------------------------------------
Cano Petroleum, Inc., failed to make the required payment of
interest in the amount of $130,579 under its Amended and Restated
Credit Agreement.  The failure to make such payment of interest
constitutes an Event of Default under the ARCA and Cano's
Subordinated Credit Agreement, for which the lenders under the
ARCA and the SCA may terminate their obligation to extend credit
to Cano and declare all amounts payable under the ARCA and the SCA
due and payable in full.  Cano has not received any notice from
the lenders with respect to the exercise of their respective
rights, including any right to accelerate the amounts payable by
Cano.

As a result of the defaults and the other defaults previously
described in Cano's filings with the Securities and Exchange
Commission, Cano will not redeem its Series D Convertible
Preferred Stock, no par value per share, on Sept. 6, 2011, as
provided for in the Certificate of Designations, Preferences and
Rights of Preferred Stock.  The subordination provisions contained
in the Certificate of Designations prohibit Cano from redeeming
Preferred Stock while Cano is in default under the ARCA.

                       About Cano Petroleum

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

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

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

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


CANTRELL/CUTTER: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Cantrell/Cutter Printing, Inc.
        1789 Olive Street
        Capitol Heights, MD 20743

Bankruptcy Case No.: 11-27863

Chapter 11 Petition Date: September 1, 2011

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

Judge: Wendelin I. Lipp

Debtor's Counsel: Richard M. McGill, Esq.
                  LAW OFFICES OF RICHARD M. MCGILL
                  P.O. Box 358
                  5303 West Court Dr.
                  Upper Marlboro, MD 20773
                  Tel: (301) 627-5222
                  E-mail: mcgillrm@aol.com

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

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/mdb11-27863.pdf

The petition was signed by Donald L. Cantrell, Jr., president.


CARGO TRANSPORTATION: Lease Decision Extended to Plan Confirmation
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida has
approved Cargo Transportation Services, Inc.'s second motion
extending the deadline within which Debtor must assume or reject
the unexpired lease of non-residential real property located at
1300 Sawgrass Corporate Parkway, Suite 110, in Sunrise, Florida,
through confirmation of the Debtor's Chapter 11 Plan.

In the motion, Debtor related it requires additional time to
continue negotiations with FCG Sunrise Corporate Plaza, LLC with
respect to an amended to the Sunrise Lease, where the Debtor
maintains its corporate office.

                   About Cargo Transportation

Sunrise, Florida-based Cargo Transportation Services, Inc.,
provides transportation services to clients nationwide, including
customized consolidation, distribution, logistics and warehousing
services.  It has 140 employees and averages $100,000,000 in gross
revenue per year.

Cargo Transportation filed for Chapter 11 bankruptcy protection
(Bankr. M.D. Fla. Case No. 11-00432) on Jan. 12, 2011.  Dennis S.
Jennis, Esq., and Kathleen L. DiSanto, Esq., at Jennis & Bowen,
P.L., in Tampa, Florida, represents the Debtor as counsel.  1
Source Partners Inc. and Accell Audit & Compliance P.A., serve as
the Debtor's certified public accountants.

Donald F. Walton, U.S. Trustee for Region 21, appointed an
Official Committee of the Official Committee of Unsecured
Creditors in the Debtor's case.  Hunton & Williams LLP represents
the Committee in the Chapter 11 proceedings.  DLA Piper is general
counsel for the Committtee.

The Debtor disclosed $11,728,760 in assets, and $11,869,375 in
liabilities as of the Chapter 11 filing.


CARGO TRANSPORTATION: Committee Can Tap Hill Ward as Counsel
------------------------------------------------------------
The Official Committee of Unsecured Creditors of Cargo
Transportation Services Inc. has been authorized by the U.S.
Bankruptcy Court for the Middle District of Florida to retain Hill
Ward & Henderson P.A. as counsel.

The firm will charge the Debtor's estates based on the hourly
rates of its professionals:

   Michael P. Brundage, Esq.  $400
   Kem Tool, Esq.             $350
   Patrick Mosley, Esq.       $275
   R. Travis Santos, Esq.     $200
   Associate                $200-$400
   Paralegal                 $90-$150

                    About Cargo Transportation

Sunrise, Florida-based Cargo Transportation Services, Inc.,
provides transportation services to clients nationwide, including
customized consolidation, distribution, logistics and warehousing
services.  It has 140 employees and averages $100,000,000 in gross
revenue per year.

Cargo Transportation filed for Chapter 11 bankruptcy protection
(Bankr. M.D. Fla. Case No. 11-00432) on Jan. 12, 2011.  Edward J.
Peterson, III, Esq., at Stichter, Riedel, Blain & Prosser, PA,
serves as the Debtor's bankruptcy counsel.  Jennis & Bowen, P.L.,
serves as substitute counsel.  1 Source Partners Inc. and Accell
Audit & Compliance P.A., serve as the Debtor's certified public
accountants.

Donald F. Walton, U.S. Trustee for Region 21, appointed an
Official Committee of the Official Committee of Unsecured
Creditors in the Debtor's case.  Hunton & Williams LLP represents
the Committee in the Chapter 11 proceedings.

The Debtor disclosed $11,728,760 in assets, and $11,869,375 in
liabilities as of the Chapter 11 filing.


CASCADE BANCORP: To Hold Annual Vote on Executive Compensation
--------------------------------------------------------------
At Cascade Bancorp's 2011 Annual Meeting of Shareholders held on
April 25, 2011, the Company's shareholders voted on, among other
matters, a proposal on the frequency of future shareholder
advisory votes regarding compensation awarded to named executive
officers.  As previously reported by the Company, the frequency of
once every year received the highest number of votes cast, as well
as a majority of the votes cast on the proposal.  Based on these
results, and consistent with the Company's recommendation, the
Company's Board of Directors has determined that the Company will
conduct future shareholder advisory votes regarding compensation
awarded to its named executive officers on an annual basis until
the next required shareholder advisory vote with respect to the
frequency of future shareholder advisory votes regarding
compensation of executives.

                       About Cascade Bancorp

Bend, Ore.-based Cascade Bancorp (Nasdaq: CACB) through its
wholly-owned subsidiary, Bank of the Cascades, offers full-service
community banking through 32 branches in Central Oregon, Southern
Oregon, Portland/Salem Oregon and Boise/Treasure Valley Idaho.
Cascade Bancorp has no significant assets or operations other than
the Bank.

Weiss Ratings has assigned its E- rating to Bend, Ore.-based Bank
of The Cascades.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the bank's balance sheet showed $2.088 billion in assets.

The Company reported a net loss of $13.65 million on
$84.98 million of total interest and dividend income for the year
ended Dec. 31, 2010, compared with a net loss of $114.83 million
on $106.81 million of total interest and dividend income during
the prior year.

The Company's balance sheet at June 30, 2011, showed $1.56 billion
in total assets, $1.35 billion in total liabilities, and
$212.61 million in total stockholders' equity.


CASELLA WASTE: Moody's Affirms 'B2' Corporate Family Rating
-----------------------------------------------------------
Moody's Investors Service has assigned a first-time speculative
grade liquidity rating of SGL-4 to Casella Waste Systems, Inc.
Concurrently, all of Casella's existing ratings, including the B2
corporate family rating, have been affirmed. The rating outlook
remains stable.

The SGL-4 rating, denoting a weak liquidity profile, stems from
very low financial ratio covenant headroom and a sudden need for
increased working capital following Hurricane Irene's impact on
the northeastern U.S. As of July 31st, Casella had 4% headroom
under its revolving credit facility's total maximum leverage
covenant. Although waste volumes should rise from the natural
disaster, particularly in Casella's key Vermont market, working
capital needs will grow with disrupted collection routes that add
haul miles and raise operating costs like fuel and labor. The
company's high leverage (debt to EBITDA 6.4x for the last twelve
months ended July 31, 2011, Moody's adjusted basis) limits
operating cash flow prospects, and cash flow deficits are typical
during summer months, when warm weather permits landfill
maintenance work that would be more difficult and costlier during
colder months. To help minimize revolver dependence and the
corresponding leverage covenant impact, Moody's expects that
Casella will now route as much of its unutilized equipment as
possible to the disaster area from outside Vermont, and will defer
much of its planned September/October capital spending. At July
31st, Casella held $3 million of cash on hand and, assuming flat
earnings, revolver availability would have been about $15 million
before exceeding the covenant limit, a low amount for the
company's size. It is unclear if revenues will rise enough in the
current quarter to offset the added operational costs mentioned
above; if not, the leverage ratio's trailing EBITDA figure will be
lower, diminishing an already low effective revolver availability
amount. Covenant breach risk and low effective availability
underscore the SGL-4 rating.

Still, the corporate family, instrument ratings, and the stable
rating outlook remain unchanged because Moody's thinks the weak
liquidity situation should soon improve, and the early signs of
progress from Casella's ongoing restructuring effort add
confidence that leverage will significantly decline by FY2013. In
Q1-FY2012 year-over-year core prices rose 1.4% on basically flat
volumes, and operating margins rose to 8.4% from 7.9% (Moody's
adjusted basis)-a noteworthy improvement versus recent periods.
Moody's thinks the company should continue realizing gains from
its renewed pricing focus and expect further margin growth from
centralization of support functions. Rebuilding efforts in Vermont
should also help waste volumes over the next few quarters.
Although quite limited, enough covenant headroom may exist to
maintain compliance until later in FY2012 when weak earnings of
Q3-FY2011 and Q4-FY2011 will no longer affect the leverage
calculation and headroom should expand. Moody's further
acknowledges that obtaining a reasonably priced covenant amendment
would probably be achievable given the operational restructuring
effort's early progress.

Should the liquidity profile not improve by later in 2011, Moody's
expects to lower the ratings. Should the performance trajectory
established in Q1-FY2012 appear unsustainable, the ratings and/or
outlook could also be pressured, regardless of covenant headroom
considerations. Upward rating momentum, unexpected near-term,
would depend on EBIT to interest approaching 2x (0.6x for the last
twelve months ended July 31, 2011) and free cash flow to debt of
5% or higher (negative 2.4%).

The ratings are:

Corporate Family, affirmed at B2

Probability of Default, affirmed at B2

$180 million 11.00% gtd second lien notes due 2014, affirmed at B2
LGD3, 44%

$200 million 7.75% gtd subordinated notes due 2019, affirmed at
Caa1 LGD5, 82%

Speculative grade liquidity, assigned at SGL-4

Outlook, stable

The principal methodology used in rating Casella Waste Systems,
Inc. was the Solid Waste Management Industry Methodology published
in February 2010. Other methodologies used include Loss Given
Default for Speculative-Grade Non-Financial Companies in the U.S.,
Canada and EMEA published in June 2009.

Casella Waste Systems, Inc., based in Rutland, VT, is a
vertically-integrated regional solid waste services company that
provides collection, transfer, disposal and recycling services to
residential, industrial and commercial customers, primarily in the
eastern United States. Revenues for the last twelve months ended
July 31, 2011 were $471 million.


CATHEDRAL CITY: S&P Lowers Rating on Tax Allocation Bonds to 'BB'
-----------------------------------------------------------------
Standard & Poor's Ratings Services lowered its rating and
underlying rating (SPUR) on Cathedral City Public Financing
Authority, Calif.'s Merged Project Area tax allocation bonds to
'BBB' from 'A', and lowered its rating on the subordinate
nonhousing tax allocation bonds to 'BB' from 'BBB-' due to
decreased coverage.

"The downgrade reflects continued declines in assessed values,
which have led to decreased coverage ratios over debt," said
Standard & Poor's credit analyst Michael Stock.

Series 2007A, 2007B, 2005A, 2004, 2002A, and 2000A bonds are
secured by a tax increment revenue from the Cathedral City
Redevelopment Agency's Merged Project Area, net of 20% set-aside
for low and moderate income housing and taxes passed through to
underlying taxing entities pursuant to tax-sharing agreements. The
series 2005A (Project Area No. 3 bonds), 2004 bonds, and 2002A
(Project Area No. 3) also have a first priority within the Merged
Project Area on a subsection from the former Project Area No. 3,
although the rating is the same on all these series based on the
strength of the Merged Project Area.Series 2007C bonds have a
subordinate lien on nonhousing tax increment revenues, net of the
20% housing set-asides and pass-throughs.

The ratings reflect S&P's opinion of:

    Adequate, but low, coverage of 1.11x of senior-lien maximum
    annual debt service (MADS) based upon 2012 preliminary
    assessed values, and inadequate 0.92x coverage of combined
    senior- and junior-lien MADS on the subordinate-lien bonds;
    and

    Debt service reserves funded by an AMBAC surety for series
    2007A, 2007B, 2005A bonds, and by a Syncora surety for the
    series 2004 bonds. Both of these insurers are currently not
    rated under regulatory supervision. In addition, the series
    2002 bonds and 2000A bonds had an MBIA surety, whose successor
    company, National Public Finance Guarantee Corp., is currently
    rated 'BBB' with a developing outlook.

Mitigants include:

    A very large, very diverse project area that covers all of
    Cathedral City;

    A low tax volatility ratio;

    The subordinate bonds have a cash funded debt service reserve.

The stable outlook reflects Standard & Poor's expectation that
adequate debt service coverage continues for the senior bonds,
there continue to be sufficient cash reserves to fund deficits of
the subordinate bonds, that taxpayer diversity will continue, and
that there will be moderate assessed valuation declines in the
next year or two. There is the potential for a downgrade of the
subordinate bonds should the authority not continue to make
payments to the state so as to cause the agency's funds in the
operation and capital accounts not be available.


CITY NATIONAL BANCSHARES: Incurs $1.1-Mil. 2nd Quarter Net Loss
---------------------------------------------------------------
City National Bancshares Corporation filed with the U.S.
Securities and Exchange Commission its quarterly report on Form
10-Q reporting a net loss of $1.11 million on $4.05 million of
total interest income for the three months ended June 30, 2011,
compared with net income of $822,000 on $5.27 million of total
interest income for the same period during the prior year.

The Company also reported a net loss of $2.67 million on $8.13
million of total interest income for the six months ended June 30,
2011, compared with net income of $118,000 on $10.79 million of
total interest income for the same period a year ago.

The Company reported a net loss of $7.5 million on $12.8 million
of net interest income for 2010, compared with a net loss of
$7.8 million on $14.7 million of net interest income for 2009.

The Company's balance sheet at June 30, 2011, showed
$366.19 million in total assets, $344.81 million in total
liabilities, and $21.38 million in total stockholders' equity.'

As reported by the TCR on June 1, 2011, KPMG LLP, in Short Hills,
New Jersey, expressed substantial doubt about City National
Bancshares' ability to continue as a going concern.  The
independent auditors noted that the Company has suffered recurring
losses from operations and has entered into a consent order with
the Office of the Comptroller of the Currency.

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

                        http://is.gd/j5UJxf

                   About City National Bancshares

Newark, N.J.-based City National Bancshares Corporation is a New
Jersey corporation incorporated on January 10, 1983.  City
National Bank, a wholly-owned subsidiary of CNBC, is a national
banking association chartered in 1973 under the laws of the United
States of America and has one subsidiary, City National
Investments, Inc., an investment company which holds, maintains
and manages investment assets for CNB.  CNB provides a wide range
of retail and commercial banking services through its retail
branch network, although the primary focus is on establishing
commercial and municipal relationships.

The Bank owns a 35.4% interest in a leasing company, along with
two other minority banks and has small investments in a Haitian
financial organization that provides microloan financing to
individuals in rural Haiti for business purposes and a mutual fund
which invests in targeted projects throughout the country that are
eligible for Community Reinvestment Act ("CRA") credit.


CLAIRE'S STORES: Files Form 10-Q, Incurs $10.1-Mil. Q2 Net Loss
---------------------------------------------------------------
Claire's Stores, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q reporting a net loss
of $10.14 million on $358.54 million of net sales for the three
months ended July 30, 2011, compared with a net loss of $8.34
million on $334.23 million of net sales for the same period during
the prior year.

The Company also reported a net loss of $29.74 million on $704.99
million of net sales for the six months ended July 30, 2011,
compared with a net loss of $20.64 million on $656.31 million of
net sales for the same period a year ago.

The Company's balance sheet at July 30, 2011, showed $2.83 billion
in total assets, $2.87 billion in total liabilities and a $40.81
million stockholders' deficit.

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

                        http://is.gd/usyUsY

                       About Claire's Stores

Claire's Stores, Inc. -- http://www.clairestores.com/-- operates
as a specialty retailer of fashion accessories and jewelry for
preteens and teenagers, as well as for young adults in North
America and internationally.  It offers jewelry products that
comprise costume jewelry, earrings, and ear piercing services; and
accessories, including fashion accessories, hair ornaments,
handbags, and novelty items.

Based in Pembroke Pines, Florida, Claire's Stores operates under
two brands: Claire's(R), which operates worldwide and Icing(R),
which operates only in North America.  As of Jan. 31, 2009,
Claire's Stores, Inc., operated 2,969 stores in North America and
Europe.  Claire's Stores, Inc., also operates through its
subsidiary, Claire's Nippon, Co., Ltd., 213 stores in Japan as a
50:50 joint venture with AEON, Co., Ltd.  The Company also
franchises 198 stores in the Middle East, Turkey, Russia, South
Africa, Poland and Guatemala.

As reported by the Troubled Company Reporter on March 15, 2011,
Moody's upgraded Claire's Stores, Inc.'s senior secured bank
credit facilities to B3 from Caa1 and its Speculative Grade
Liquidity Rating to SGL-2 from SGL-3.  All other ratings were
affirmed including Claire's Caa2 Corporate Family Rating.  The
rating outlook is positive.

                          *     *     *

Claire's Stores carries 'Caa2' corporate family and probability of
default ratings, with 'positive' outlook, from Moody's Investors
Service, and 'B-' issuer credit ratings, with 'stable' outlook,
from Standard & Poor's.

Moody's Investors Service in December 2010 upgraded Claire's
Stores' ratings, including its Corporate Family Rating and
Probability of Default Rating, to 'Caa2' from 'Caa3'.  The upgrade
reflects a decrease in Claire's probability of default given that
the company can now fully cover its interest expense.  This is due
to earnings improvement from solid comparable store sales growth,
improved merchandise margins, and continued expense discipline.

Claire's Caa2 Probability of Default Rating reflects Moody's view
that although Claire's credit metrics have improved, they remain
very weak as a result of its heavy debt load.  For the twelve
months ending Oct. 30, 2010, Claire's debt to EBITDA was very high
at 9.3 times.


COLTS RUN: Final Hearing on Cash Collateral to be Held on Sept. 22
------------------------------------------------------------------
On Aug. 23, 2011, the U.S. Bankruptcy Court for the Northern
District of Illinois entered a sixth interim order extending Colts
Run, L.L.C.'s authorization to use cash collateral.

The final hearing on the motion will be held on Sept. 22, 2011, at
10:30 a.m.  Objections to the motion must be filed no later than
Sept. 19, 2011.

Since May 7, 2010, the Court has entered five interim orders
allowing the Debtor to use cash collateral in accordance with a
budget.  The fifth interim order was entered on May 26, 2011.

A copy of the latest budget is available for free at:

           http://bankrupt.com/misc/coltsrun.doc328.pdf

                         About Colts Run

Lake Forest, Illinois-based Colts Run, LLC, owns and operates a
residential apartment project located in Lexington, Kentucky,
known as Colts Run Apartments.  The Company filed for Chapter 11
bankruptcy protection (Bankr. N.D. Ill. Case No. 10-18071) on
April 23, 2010.  Arthur G. Simon, Esq., David K. Welch, Esq.,
Jeffrey C. Dan, Esq., and Scott R. Clar, Esq., at Crane Heyman
Simon Welch & Clar, in Chicago, Ill, represent the Debtor in its
restructuring effort.  William E. Huml & Co., Ltds., serves as the
Debtor's accountants.  In its schedules, the Debtor disclosed
$25,085,211 in assets and $23,063,333 in liabilities as of the
Petition Date.

The U.S. Bankruptcy Court for the Northern District of Illinois
entered an order directing the appointment of a Chapter 11 trustee
to oversee the bankruptcy case of Colts Run LLC.

In August 2010, Colts Run filed a full-payment plan of
reorganization and an explanatory disclosure statement.  Plan
distributions, the Debtor proposed, would be made from cash
deposits existing at the confirmation and from proceeds realized
from the continued operation of the Debtor's business.  The Debtor
does not intend to liquidate any if its assets to make the
payments.  If necessary, at the point of the balloon payment
coming due to PNC, the Debtor may borrow the funds sufficient to
make the balloon payment.  The Debtor's members (i) Ivan Djurin
and (ii) The Teresa M. Baldwin Trust would retain their equity
interest in the Debtor after confirmation of the Plan.

In March 2011, PNC, which asserts a $23,172,000 claim secured by
perfected liens in substantially all the assets of the Debtor,
succeeded in its request for the appointment of a Chapter 11
trustee to take over the estate.

PNC is represented by Ronald Barliant, Esq., at Goldberg Kohn
Ltd., in Chicago, Illinois.


CONGRESS SAND: N.D. Tex. Court Confirms Chapter 11 Plan
-------------------------------------------------------
Bankruptcy Judge Stacey Jernigan confirmed the Chapter 11 Plan of
Reorganization for Congress Materials LLC and Congress Sand and
Gravel LLC filed May 11, 2011, according to a Sept. 2, 2011
Findings of Fact and Conclusions of Law, a copy of which is
available at http://is.gd/DvgAmCfrom Leagle.com.

The Debtors filed immaterial changes to the Plan on June 28, 2011.
The Plan complies with Section 1129 of the Bankruptcy Code, and
the Debtors have proven the requirements of confirmation by a
preponderance of the evidence, the ruling said.

                       About Congress Sand

Bridgeport, Texas-based Congress Materials, LLC -- dba Green
Aggregates and Union Materials, LP -- filed for Chapter 11
bankruptcy protection (Bankr. N.D. Tex. Case No. 10-37526) on
Oct. 28, 2010.  It estimated assets and debts at $10 million
to $50 million.

Kerens, Texas-based Congress Sand & Gravel, LLC, filed for Chapter
11 bankruptcy protection (Bankr. N.D. Tex. Case No. 10-37522) on
Oct. 28, 2010. It estimated its assets and debts at $1 million to
$10 million.

Congress Materials' bankruptcy case is jointly administered with
Congress Sand & Gravel, LLC.  Congress Sand is the lead case.
Douglas S. Draper, Esq., at Heller Draper Hayden Patrick & Horn,
LLC, assists Congress Sand and Congress Materials in their
restructuring efforts.  Beveridge & Diamond, PC, serves as special
counsel to represent the Debtors concerning the Texas Commission
on Environmental Quality regulation of environmental matters.

Affiliate Green Aggregates, Inc. (Bankr. N.D. Tex. Case No.
07-53439) filed a separate Chapter 11 petition on Dec. 31, 2007.


CORDIA COMMUNICATIONS: Wants Until Jan. 12 to Propose Plan
----------------------------------------------------------
Cordia Communications Corp., et al., ask the U.S. Bankruptcy Court
for the Middle District of Florida to extend the Debtors'
exclusive periods to file a plan and to solicit acceptances of a
filed plan through Jan. 15, 2012, and March 16, 2012,
respectively.

On July 14, 2011, the Court entered its order authorizing and
approving the sale of certain of the Debtors' competitive local
exchange carrier assets to Birch Communications, Inc.

The Debtors anticipate that the sale transaction will close in
October 2011.

After the sale transaction closes, the Debtors may pursue
confirmation of a liquidating plan.  The extension sought by the
Debtors is intended to allow the Debtors to finalize the sale
transaction without interruption and to evaluate and potentially
prepare and file a liquidating plan.

                    About Cordia Communications

Cordia Corporation -- through its operating subsidiaries, Cordia
Communications Corp., CordiaIP Corp., My Tel Co, Inc., Northstar
Telecom, Inc., Cordia Prepaid Corp., and Cordia International
Corp. -- offers business, residential, and wholesale customers
local and long distance telecommunications services in more than
60 countries utilizing traditional wireline and Voice over
Internet Protocol -- VoIP -- technologies.  CCC holds licenses to
operate in 28 states throughout the contiguous United States, and
CCCVA is licensed in Virginia.

Winter Garden, Florida-based Cordia Communications Corp., along
with affiliates, filed for Chapter 11 bankruptcy protection
(Bankr. M.D. Fla. Lead Case No. 11-06493) on May 1, 2011.
The Debtor estimated its assets and debts at $10 million to
$50 million.  Scott L. Baena, Esq., at Bilzin Sumberg Baena Price
& Axelrod LLP, serves as the Debtors' bankruptcy counsel.  Source
Capital Group, Inc., serves as investment banker.  Development
Specialists, Inc., is providing restructuring and management
services, including Joseph J. Luzinski as chief restructuring
officer.  Bingham McCutchen LLP as special telecommunications
counsel.

Cordia Communications Inc. was authorized in July 2011 to sell the
business to Birch Communications Inc.  For Birch to take over a
contract with Verizon Communications Inc., Verizon must be paid
$4.4 million, according to the order approving the sale.


CORDIA COMMUNICATIONS: Wants Until Nov. 25 to Decide on Leases
--------------------------------------------------------------
Cordia Communications Corp., et al., ask the U.S. Bankruptcy Court
for the Middle District of Florida to extend the August 28, 2011
deadline during which the Debtors must assume or reject unexpired
nonresidential leases for 90 days through and including Nov. 25,
2011.

On July 14, 2011, the Court entered its order authorizing and
approving the sale of certain of the Debtors' competitive local
exchange carrier assets to Birch Communications, Inc.

The Debtors are parties to three non-residential property leases,
one of which is the subject of a pending motion seeking assumption
of such lease [ECF No. 176].

In connection with and after the conclusion of the sale
transaction, the Debtors anticipate a wind-down of their remaining
operations that will likely result in the rejection of the
unexpired leases other than the lease subject of the pending
Motion to Assume.

Debtors tell the Court that until the sale transaction closes,
rejection of the unexpired leases that are necessary for the
Debtors' pre-closing operations would be premature and would
inhibit the Debtors' ability to close the sale.  It is also too
soon to anticipate the exact closing date or estimate
the exact timing of any post-closing lease rejections.

                    About Cordia Communications

Cordia Corporation -- through its operating subsidiaries, Cordia
Communications Corp., CordiaIP Corp., My Tel Co, Inc., Northstar
Telecom, Inc., Cordia Prepaid Corp., and Cordia International
Corp. -- offers business, residential, and wholesale customers
local and long distance telecommunications services in more than
60 countries utilizing traditional wireline and Voice over
Internet Protocol -- VoIP -- technologies.  CCC holds licenses to
operate in 28 states throughout the contiguous United States, and
CCCVA is licensed in Virginia.

Winter Garden, Florida-based Cordia Communications Corp., along
with affiliates, filed for Chapter 11 bankruptcy protection
(Bankr. M.D. Fla. Lead Case No. 11-06493) on May 1, 2011.
The Debtor estimated its assets and debts at $10 million to
$50 million.  Scott L. Baena, Esq., at Bilzin Sumberg Baena Price
& Axelrod LLP, serves as the Debtors' bankruptcy counsel.  Source
Capital Group, Inc., serves as investment banker.  Development
Specialists, Inc., is providing restructuring and management
services, including Joseph J. Luzinski as chief restructuring
officer.  Bingham McCutchen LLP as special telecommunications
counsel.

Cordia Communications Inc. was authorized in July 2011 to sell the
business to Birch Communications Inc.  For Birch to take over a
contract with Verizon Communications Inc., Verizon must be paid
$4.4 million, according to the order approving the sale.


CRESCENT OIL: Minotti Fails in Bid to Dismiss Avoidance Suit
------------------------------------------------------------
Bankruptcy Judge Robert D. Berger denied Skoda Minotti's request
to dismiss Counts 53 and 55 of the complaint seeking to avoid a
pre-petition transfer under 11 U.S.C. Sec. 548(a)(1)(A) and the
Kansas Uniform Fraudulent Transfer Act, respectively.   Crescent
Oil Company and the other Debtors seek to recover approximately
$302,500 they allege Skoda Minotti received as part of the
Debtors' former ownership's alleged scheme to defraud creditors.
The lawsuit is CRESCENT OIL COMPANY, INC., et al., v. PHILLIP
NEAR, et al., Adv. Proc. No. 11-6076 (Bankr. D. Kan.).  A copy of
the Court's Aug. 31, 2011 Memorandum Opinion and Order is
available at http://is.gd/BmUMhgfrom Leagle.com.

                        About Crescent Oil

St. Louis, Missouri-based Crescent Oil Company Inc. owned, leased,
sub-leased and bought and sold real property and equipment in the
gasoline convenience store business.   Crescent Oil also bought
and sold gasoline and related convenience store products in six
Midwest states.  Crescent Oil attempted to sell the business to
Titan Global Holdings, Inc., through a Stock Purchase Agreement.
The sale ultimately failed even though the Company closed the SPA.
The Company alleges the purported sale to Titan was a scheme to
benefit insiders at the expense of the Company's creditors.  The
Company alleges the purpose of the SPA was to absolve former
ownership of responsibility for breaches of fiduciary duty.

Crescent Oil and its affiliates filed for Chapter 11 bankruptcy
protection on Feb. 8, 2009 (Bankr. D. Kan. Case No. 09-20258).
Lisa A. Epps, Esq., at Spencer Fane Britt & Browne LLP, assists
the Debtors in their restructuring efforts.  Crescent Oil listed
$85.3 million in assets and $88.8 million in debts.


CRESCENT RESOURCES: Firm Defends Challenge From Litigation Trust
----------------------------------------------------------------
Will Boye, senior staff writer at the Charlotte Business Journal,
reports that Robinson Bradshaw & Hinson is defending itself from
accusations of misconduct regarding its representation of real
estate firm Crescent Resources before and during its Chapter 11
reorganization.

According to the report, the accusations come from the Crescent
Resources Litigation Trust, which has filed lawsuits in bankruptcy
court against former Crescent owner Duke Energy Corp. and other
companies in an effort to recover funds for creditors of Crescent,
which emerged from bankruptcy protection in 2010.

                      About Crescent Resources

Crescent Resources, LLC -- http://www.crescent-resources.com/--
was a real estate development and management organization which
developed, owned, leased, managed, and sold real estate since
1969.  Crescent Resources and its debtor-affiliates filed for
Chapter 11 protection (Bankr. W.D. Tex. Lead Case No. 09-11507) on
June 10, 2009.  Judge Craig A. Gargotta presided over the case.
Eric J. Taube, Esq., at Hohmann, Taube & Summers, L.L.P., served
as the Debtors' bankruptcy counsel.  On Dec. 20, 2010, the Court
signed an order confirming the Debtors' Revised Second Amended
Joint Plan of Reorganization.


CUMULUS MEDIA: Sets Sept. 9 as Deadline to Submit Election Forms
----------------------------------------------------------------
Cumulus Media Inc. announced that the deadline for holders of
Citadel common stock or warrants to purchase Citadel common stock
to deliver their election forms to elect the form of consideration
they wish to receive in the previously announced merger of a
subsidiary of Cumulus Media with and into Citadel, pursuant to
which Citadel will become an indirect wholly-owned subsidiary of
Cumulus Media, to U.S. Bank National Association, as exchange
agent, is 5:00 p.m., New York City time, on Friday, Sept. 9, 2011,
unless extended.

Pursuant to the terms of the Merger, Citadel Securityholders have
the opportunity to elect to receive, upon completion of the
Merger, (i) 8.525 shares of Cumulus Class A common stock, (ii)
$37.00 in cash or (iii) a combination of Stock Consideration and
Cash Consideration, in each case subject to proration, as the
consideration for each share of Citadel common stock or warrant to
purchase Citadel common stock that they own.

To make an effective cash election or stock election, Citadel
Securityholders of record who hold their securities in their own
name must properly complete, sign and deliver the applicable
election form in accordance with the instructions set forth on the
applicable election form to the Exchange Agent, at the following
address:

By First Class Mail:            By Courier or Overnight Delivery:
U.S. Bank National Association  U.S. Bank National Association
Attn: Specialized Finance       Attn: Specialized Finance
60 Livingston Avenue            111 Fillmore Avenue
Mail Station - EP-MN-WS2N       St. Paul, MN 55107-1402
St. Paul, MN 55107-2292

As previously disclosed, on Aug. 10, 2011, Cumulus Media commenced
the distribution of the applicable election forms to all Citadel
Securityholders.  For information relating to, or requests for
additional copies of, the applicable election forms, Citadel
Securityholders may contact the Exchange Agent at:
escrowexchangepayments@usbank.com, or call 651-495-4738.

The Exchange Agent must receive the applicable election form
representing Citadel common stock or warrants as described in the
instructions accompanying the election form by the Election
Deadline.

                        About Cumulus Media

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

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

                          *     *     *

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

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


DEVELOPING EQUITIES: Plan Outline Hearing Continued Until Oct. 5
----------------------------------------------------------------
The Hon. Sidney B. Brooks of the U.S. Bankruptcy Court for the
District of Colorado approved the stipulation between Developing
Equities Group LLC, and creditor Stratus North Creek LLC,
scheduling a final evidentiary hearing on Oct. 5, 2011, at 9:00
a.m., to consider certain matters.

At the hearing, the Court will consider these:

   a. Status North's motion for relief from automatic stay and the
      Debtor's response thereto;

   b. the Debtor's Disclosure Statement and the objection of
      Stratus North thereto; and

   c. the Debtor's application to employ Fuller Western Real
      Estate as listing agent/broker for the Thornton Pads and
      Stratus North's objection thereto.

The Court further ordered that with regard to the final hearing,
the parties will comply with these procedures and deadlines:

   1. Any party intending to introduce any exhibits or call any
      witnesses at the scheduled hearing will, by Sept. 29,
      deliver to opposing counsel, a list and photocopies of the
      proposed exhibits (pre-marked for identification) and a
      schedule of witnesses who may be called well as a schedule
      of witnesses who will be called.

   2. By Sept. 29, each party will submit to the Court, a tabbed
      and indexed binder which contains (a) a complete copy of
      Status North's motion for relief from automatic stay and the
      Debtor's response thereto; the Debtor's Disclosure Statement
      and the objection of Stratus North thereto; and the Debtor's
      application to employ Fuller Western Real Estate as listing
      agent/broker for the Thornton Pads and Stratus North Creek
      LLC's objection thereto, (b) a list of exhibits and schedule
      of witnesses who may or will be called, (c) a copy of each
      exhibit to be tendered for purposes of the final hearing,
      and (d) copies of all sworn declarations of fact, marked as
      exhibits.

                About Developing Equities Group LLC

Highlands Ranch, Colorado-based Developing Equities Group LLC
operates a commercial real estate development company that
purchases commercial real property for development, lease or
resale depending on the property.  The Debtor's remaining
commercial real property as of the petition date is the Thornton
Property, a 2.753 gross acres of vacant land located in Adams
County, Colorado.  The Company filed for Chapter 11 bankruptcy
protection (Bankr. D. Colo. Case No. 10-39617) on Nov. 23, 2010.
Harvey Sender, Esq., and Matthew T. Faga, Esq., at Sender &
Wasserman, P.C., in Denver, Colo., assist the Debtor in its
restructuring effort.  According to its schedules, the Debtor
disclosed $16,977,815 in total assets and $6,823,390 in total
debts.


DIRECTBUY HOLDINGS: S&P Lowers Corporate Rating to 'CCC'
--------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Merrillville, Ind.-based DirectBuy Holdings Inc. to
'CCC' from 'B'. The outlook is negative.

"At the same time, we lowered the issue-level rating on the
company's $335 million senior secured notes to 'CCC-' (one notch
below the corporate credit rating), and revised the recovery
rating to '5' from '3'. The '5' recovery rating indicates our
expectation for modest (10% to 30%) recovery for lenders in the
event of a payment default," S&P related.

"The rating actions follow the persistent decline in the
DirectBuy's membership base, and our expectation that this trend
will continue because of the continued weak U.S. economy and the
company's legal issues over its sales practices," explained
Standard & Poor's credit analyst Andy Sookram. "As a result, we
see its operating performance and financial flexibility weakening
from current levels."

"We view DirectBuy's business risk profile as vulnerable. The
company began to experience a decline in total membership levels
each month beginning in February 2010, due to the weak U.S.
economy and high unemployment. In addition, the company faces
several lawsuits, including allegations that it misrepresented the
actual costs of the product marketed to its members, which we
think also contributed to lower membership. These legal issues are
ongoing, and the company's proposed settlement in one of the cases
was rejected by a judge in Connecticut," S&P related.

"We believe economic conditions in the U.S. and pending litigation
issues will hurt the company's performance," added Mr. Sookram.
"As a result, we project the decline in total membership to remain
in the high-single-digit area for fiscal 2012. This would lead to
contraction in EBITDA margin to about 40.5% over the next 12
months compared with our estimated level of 42% for fiscal 2011."


EL COTIJA: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: El Cotija Mexican Restaurant, Inc.
        P.O. Box 42
        Bonaire, GA 31005

Bankruptcy Case No.: 11-52790

Chapter 11 Petition Date: September 1, 2011

Court: United States Bankruptcy Court
       Middle District of Georgia (Macon)

Debtor's Counsel: Wesley J. Boyer, Esq.
                  KATZ, FLATAU, POPSON AND BOYER, LLP
                  355 Cotton Avenue
                  Macon, GA 31201
                  Tel: (478) 742-6481
                  E-mail: wjboyer_2000@yahoo.com

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

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/gamb11-52790.pdf

The petition was signed by Charles Brown, president.


ELEPHANT & CASTLE: Can Hire Phoenix Management as Advisor
---------------------------------------------------------
The Honorable Henry J. Boroff approved the application of
Massachusetts Elephant & Castle Group, Inc., et al. to employ
Phoenix Management Services, Inc. as their financial and
restructuring advisor and management consultant, nunc pro tunc to
Aug. 19, 2011.

Phoenix Management's compensation will be subject to plenary
review for necessity and reasonableness under Sections 330 and 331
of the Bankruptcy Code and applicable Bankruptcy Rules.

            About Massachusetts Elephant & Castle Group

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

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

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


ELEPHANT TALK: Issues 11.6 Million Shares of Common Stock
---------------------------------------------------------
Elephant Talk Communications Inc. issued an aggregate 11,666,685
shares of Common stock, upon exercise of certain common stock
purchase warrants which were originally issued in connection with
the private placement of units in 2010.

Elephant Talk Communications called for redemption of the Warrants
on Aug. 29, 2011, unless they were exercised prior to that date.
In response to the Warrants call, approximately 6.7 million
Warrants were exercised at the cash exercise price of $ 1.50 per
warrant and the Company received gross proceeds of approximately
$10.1 million.

The issuance of the 11,666,685 shares of Common stock to the
Warrants holders in connection with the exercise of the Warrants
was made in reliance on the exemption from registration provided
by Section 4(2) of the Securities Act of 1933, as amended.

As of the Redemption Date, in excess of 99% of the Warrants issued
in connection with the closing of the 2010 Private Placement were
exercised at the price of $1.50 per warrant, providing aggregate
gross proceeds of approximately $ 17.5 million to the Company and
resulting in an increase in the number of shares of Common Stock
outstanding to 112,591,186 as of Aug. 31, 2011.

The Company paid a 5% solicitation fee to Dawson James Securities,
Inc., who acted as the warrant solicitation agent in connection
with the Warrants call.  The net proceeds from the Warrants
exercise will be used as working capital.

                         About Elephant Talk

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

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

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


EMMIS COMMUNICATIONS: Inks 2nd Amended and Restated LLC Agreement
-----------------------------------------------------------------
Subsidiaries of Emmis Communications Corporation, on Sept. 1,
2011, entered into a Second Amended & Restated Limited Liability
Company Agreement of Merlin, Media, LLC, together with GTCR Merlin
Holdings, LLC, an affiliate of investment funds managed by GTCR,
LLC, and Benjamin L. Homel.

In connection with the completion of the disposition of assets to
Merlin Media and sale of a controlling interest in Merlin Media
pursuant to the Purchase Agreement dated June 20, 2011, among the
Company, Merlin Holdings and Mr. Homel, the Company has retained
preferred equity and common equity interests in Merlin Media, the
terms of which are governed by the LLC Agreement.  The Company's
common equity interests in Merlin Media represent 20.6% of the
outstanding common equity interests of Merlin Media and are
subject to dilution if the Company fails to participate pro rata
in future capital calls.  The Company's preferred equity interests
in Merlin Media consist of approximately $28.7 million of non-
redeemable perpetual preferred interests, on which a preferred
return accretes quarterly at a rate of 8% per annum.  The
preferred interests held by the Company are junior to non-
redeemable perpetual preferred interests held by the Investors of
approximately $87 million, on which a preferred return accretes
quarterly at a rate of 8% per annum.  The preferred interests held
by the Company and the Investors are both junior to a $60 million
senior secured note issued to an affiliate of Merlin Holdings.
The note matures five years from closing, and interest accrues on
the note semi-annually at a rate of 15% per annum, payable in cash
or in-kind at Merlin Media's election.  Distributions in respect
of Merlin Media's common and preferred interests are made when
declared by Merlin Media's board of managers.

Under the LLC Agreement, the Company is entitled initially to
appoint one out of five members of Merlin Media's board of
managers and has limited consent rights with respect to specified
transactions.  The Company has no obligation to make ongoing
capital contributions to Merlin Media, but is subject to dilution
if it fails to participate pro rata in future capital calls.

Merlin Media is a private company and the Company will have
limited ability to sell its interests in Merlin Media, except
pursuant to customary tag-along rights with respect to sales by
Merlin Media's controlling Investor or, after five years, a
private sale to third parties subject to rights of first offer
held by the controlling Investor.  The Company has customary
registration rights and is subject to a "drag-along" right of the
controlling Investor.

A full-text copy of the Form 8-K is available for free at:

                        http://is.gd/2Jp2tG

                     About Emmis Communications

Headquartered in Indianapolis, Indiana, Emmis Communications
Corporation -- http://www.emmis.com/-- owns and operates 22 radio
stations serving New York, Los Angeles, Chicago, St. Louis,
Austin, Indianapolis, and Terre Haute, as well as national radio
networks in Slovakia and Bulgaria.  The company also publishes six
regional and two specialty magazines.

The Company reported a consolidated net loss of $11.54 million on
$251.31 million of net revenues for the year ended Feb. 28, 2011,
compared with a consolidated net loss of $118.49 million on
$242.56 million of net revenues during the prior year.

The Company's balance sheet at May 31, 2011, showed
$470.91 million in total assets, $474.41 million in total
liabilities, $140.46 million in Series A Cumulative Convertible
Preferred Stock, and a $143.96 million total deficit.

                           *     *     *

In November 2010, Moody's Investors Service affirmed the 'Caa2'
Corporate Family Rating and 'Caa3' Probability of Default rating
for Emmis Communications Corporation, as well as its SGL-4
speculative grade liquidity rating.  Operating performance
improved with the economic recovery, but absent debt reduction
with proceeds from an asset sale or equity infusion Emmis will
likely breach its leverage covenant when the covenant suspension
period ends for the quarter ending November 30, 2011, in Moody's
opinion.

Emmis' CFR and PDR incorporate expectations for a covenant breach
in November 2011.  Moody's considers the Company's capital
structure unsustainable, and its operations in the cyclical
advertising business magnify this challenge.  Furthermore, Emmis
relies on two markets, Los Angeles and New York, for approximately
50% of its revenue, although its ownership of stations in top
markets including Chicago as well as NY and LA, support the
rating.

The negative outlook incorporates Moody's expectations that Emmis
will not comply with its maximum leverage covenant when effective
for the quarter ending November 30, 2011.


EMMIS COMMUNICATIONS: Receives Non-Compliance Notice from Nasdaq
----------------------------------------------------------------
Emmis Communications Corporation received a letter from the Nasdaq
Stock Market notifying the Company that it no longer complies with
Marketplace Rule 5450(a)(1), as the bid price of the Company's
Class A Common Stock closed below the minimum $1.00 per share for
the 30 consecutive business days preceding Aug. 31, 2011.  In
accordance with Marketplace Rule 5810(c)(3)(A), the Company has
180 calendar days, or until Feb. 27, 2012, to regain compliance
with the Minimum Bid Price Rule.  During the 180 day period, the
Company's Class A Common Stock will continue to trade on the
Nasdaq Global Select Market.

If at any time before Feb. 27, 2012, the bid price of the
Company's Class A Common Stock closes at $1.00 per share or more
for a minimum of 10 consecutive business days, Nasdaq will notify
the Company that it has achieved compliance with the Minimum Bid
Price Rule.  If the Company does not regain compliance with the
Minimum Bid Price Rule by Feb. 27, 2012, Nasdaq will notify the
Company that its Class A Common Stock will be delisted from the
Nasdaq Global Select Market.  Nasdaq rules would then permit the
Company to appeal any delisting determination by the Nasdaq staff
to a Listing Qualifications Panel.

The Company intends to actively evaluate and monitor the bid price
for its Class A Common Stock between now and Feb. 27, 2012, and
consider implementation of various options available to the
Company if its Class A Common Stock does not trade at a level that
is likely to regain compliance.

The Nasdaq deficiency letter does not affect the listing of the
Company's 6.25% Series A Cumulative Convertible Preferred Stock,
which will continue to trade on the Nasdaq Global Select Market
under the symbol "EMMSP".

                     About Emmis Communications

Headquartered in Indianapolis, Indiana, Emmis Communications
Corporation -- http://www.emmis.com/-- owns and operates 22 radio
stations serving New York, Los Angeles, Chicago, St. Louis,
Austin, Indianapolis, and Terre Haute, as well as national radio
networks in Slovakia and Bulgaria.  The company also publishes six
regional and two specialty magazines.

The Company reported a consolidated net loss of $11.54 million on
$251.31 million of net revenues for the year ended Feb. 28, 2011,
compared with a consolidated net loss of $118.49 million on
$242.56 million of net revenues during the prior year.

The Company's balance sheet at May 31, 2011, showed
$470.91 million in total assets, $474.41 million in total
liabilities, $140.46 million in Series A Cumulative Convertible
Preferred Stock, and a $143.96 million total deficit.

                           *     *     *

In November 2010, Moody's Investors Service affirmed the 'Caa2'
Corporate Family Rating and 'Caa3' Probability of Default rating
for Emmis Communications Corporation, as well as its SGL-4
speculative grade liquidity rating.  Operating performance
improved with the economic recovery, but absent debt reduction
with proceeds from an asset sale or equity infusion Emmis will
likely breach its leverage covenant when the covenant suspension
period ends for the quarter ending November 30, 2011, in Moody's
opinion.

Emmis' CFR and PDR incorporate expectations for a covenant breach
in November 2011.  Moody's considers the Company's capital
structure unsustainable, and its operations in the cyclical
advertising business magnify this challenge.  Furthermore, Emmis
relies on two markets, Los Angeles and New York, for approximately
50% of its revenue, although its ownership of stations in top
markets including Chicago as well as NY and LA, support the
rating.

The negative outlook incorporates Moody's expectations that Emmis
will not comply with its maximum leverage covenant when effective
for the quarter ending November 30, 2011.


EMMIS COMMUNICATIONS: LKCM Owns 243,961 Class A Common Shares
-------------------------------------------------------------
In an amended Schedule 13D filing with the U.S. Securities and
Exchange Commission, LKCM Private Discipline Master Fund SPC and
its affiliates disclosed that as of Sept. 30, 2010, they
beneficially own 100,000 shares of 6.25% Series A Cumulative
Convertible Preferred Stock and 243,961 shares of Class A common
stock representing 3.6% and 0.7% of the outstanding preferred and
common shares, respectively.  A full-text copy of the filing is
available for free at http://is.gd/LoDkZ7

                     About Emmis Communications

Headquartered in Indianapolis, Indiana, Emmis Communications
Corporation -- http://www.emmis.com/-- owns and operates 22 radio
stations serving New York, Los Angeles, Chicago, St. Louis,
Austin, Indianapolis, and Terre Haute, as well as national radio
networks in Slovakia and Bulgaria.  The company also publishes six
regional and two specialty magazines.

The Company reported a consolidated net loss of $11.54 million on
$251.31 million of net revenues for the year ended Feb. 28, 2011,
compared with a consolidated net loss of $118.49 million on
$242.56 million of net revenues during the prior year.

The Company's balance sheet at May 31, 2011, showed
$470.91 million in total assets, $474.41 million in total
liabilities, $140.46 million in Series A Cumulative Convertible
Preferred Stock, and a $143.96 million total deficit.

                           *     *     *

In November 2010, Moody's Investors Service affirmed the 'Caa2'
Corporate Family Rating and 'Caa3' Probability of Default rating
for Emmis Communications Corporation, as well as its SGL-4
speculative grade liquidity rating.  Operating performance
improved with the economic recovery, but absent debt reduction
with proceeds from an asset sale or equity infusion Emmis will
likely breach its leverage covenant when the covenant suspension
period ends for the quarter ending November 30, 2011, in Moody's
opinion.

Emmis' CFR and PDR incorporate expectations for a covenant breach
in November 2011.  Moody's considers the Company's capital
structure unsustainable, and its operations in the cyclical
advertising business magnify this challenge.  Furthermore, Emmis
relies on two markets, Los Angeles and New York, for approximately
50% of its revenue, although its ownership of stations in top
markets including Chicago as well as NY and LA, support the
rating.

The negative outlook incorporates Moody's expectations that Emmis
will not comply with its maximum leverage covenant when effective
for the quarter ending November 30, 2011.


EVERGREEN SOLAR: Won't Be Able to Pay Off Debts, Says Analyst
-------------------------------------------------------------
Livia Gershon at the Worcester Business Journal reports that
analyst Theodore O'Neill, who follows Evergreen Solar Inc. for
Wunderlich Securities, said he doesn't think the Company will be
able to pay even a quarter of what it owes.

The report relates that Mr. O'Neill said the $486-million figure
represents the book value of the Company's assets, not the price
anyone would actually pay for them.  The Company makes a unique
type of solar wafer that uses less polysilicon than other
versions, but the price of polysilicon has plummeted in recent
years, making those wafers less appealing.  That makes both the
Company's proprietary technology and its manufacturing plant in
Devens unappealing to potential buyers, Mr. O'Neill said.

According to the Business Journal, Evergreen Solar said it has
unsecured debts worth a total of $486 million, with $211 million
owed to the holders of 4-percent notes through U.S. Bank of
Minnesota.  The Company lists the quasi-public agency
MassDevelopment as its fourth-largest creditor, with $1.5 million
owed for rent.  Farther down the line, Evergreen owes Lightower
Fiber Networks of Boxborough $16,016.

                       About Evergreen Solar

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

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

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

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

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


FARENCO SHIPPING: Chapter 15 Case Summary
-----------------------------------------
Chapter 15 Debtor: Farenco Shipping Co. Ltd.
                   Farenco Shipping Co. Ltd.
                   Commonwealth Trust Limited, Yamraj Building
                   Road Town, Tortola
                   British Virgin Islands

Chapter 15 Case No.: 11-14138

Type of Business: Shipping

Chapter 15 Petition Date: August 31, 2011

Court: Southern District of New York (Manhattan)

Chapter 15 Petitioner's Counsel: James H. Power, Esq.
                                 HOLLAND & KNIGHT, LLP
                                 31 West 52nd Street
                                 New York, NY 10019
                                 Tel: (212) 513-3200
                                 Fax: (212) 385-9010
                                 E-mail: james.power@hklaw.com

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

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


FIRST FINANCIAL: Posts $11.9-Mil. Second Quarter Net Loss
---------------------------------------------------------
First Financial Service Corporation reported a net loss of
$11.9 million on $8.4 million of net interest income (before
provision for loan losses) for the three months ended June 30,
2011, compared with a net loss of $62,000 on $9.5 million of net
interest income (before provision for loan losses) for the same
period last year.

The Company reported a net loss of $14.0 million on $17.0 million
of net interest income (before provision for loan losses) for the
six months ended June 30, 2011, compared with net income of
$693,000 on $18.4 million of net interest income (before provision
for loan losses) for the same period of 2010.

The Company's balance sheet at June 30, 2011, showed
$1.242 billion in total assets, $1.181 billion in total
liabilities, and stockholders' equity of $61.0 million.

As of June 30, 2011, the regulatory capital levels of the
Corporation and its wholly owned subsidiary, First Federal Savings
Bank, exceeded "well-capitalized" standards.  However, as a result
of the Consent Order the Bank entered into with the FDIC and the
Kentucky Department of Financial Institutions, the Bank is
categorized as a "troubled institution" by bank regulators, which
by definition does not permit the Bank to be considered "well-
capitalized" despite its current capital levels.

A copy of the Form 10-Q is available at http://is.gd/L7PHRA

Elizabethown, Kentucky-based First Financial Service Corporation
(NASDAQ: FFKY) is the parent bank holding company of First Federal
Savings Bank of Elizabethtown, which was chartered in 1923.  The
Bank operates 22 full-service banking centers and a commercial
private banking center in eight contiguous counties in central
Kentucky along the Interstate 65 corridor and within the
Louisville metropolitan area, including southern Indiana.


FIRST FOLIAGE: U.S. Trustee Withdraws Conversion, Dismissal Plea
----------------------------------------------------------------
Donald F. Walton, U.S. Trustee for Region 21, notified the U.S.
Bankruptcy Court for the Southern District of Florida that he has
withdrawn his motion to dismiss or convert the Chapter 11 case of
First Foliage, L.C., to one under Chapter 7.

As reported in the Troubled Company Reporter on July 13, 2011, the
U.S. Trustee said that the Debtor has not paid the required
statutory fee owed to the U.S. Trustee in the amount of
approximately $20,000 for the first quarter of 2011.

Homestead, Florida-based First Foliage, L.C., once operated a
business that supplied tropical plants to retailers.  The Company
filed for Chapter 11 bankruptcy protection (Bankr. S.D. Fla. Case
No. 10-27532) on June 23, 2010.   Luis Salazar, Esq., at Infante,
Zumpano, Hudson & Miloch, LLC, represents the Debtor.  Berger
Singerman, P.A., serves as counsel to the Official Committee of
Unsecured Creditors.  The Company estimated $50 million to $100
million in assets and $10 million to $50 million in liabilities in
its Chapter 11 petition.

First Foliage LC has sold its assets to Costa Farms LLC for
roughly $22 million.


FLEXERA MERGER: Moody's Assigns 'B3' Corporate Family Rating
------------------------------------------------------------
Moody's Investors Service has assigned a B3 corporate family
rating ("CFR") to Flexera Merger LLC. Concurrently, Moody's
assigned a B2 rating to the Company's proposed $255 million of
senior first lien secured credit facilities and a Caa2 rating to
its $100 million second lien secured term loan facility due 2018.
The Company will use the net proceeds from the credit facilities
and approximately $169 million of new equity from Teachers'
Private Capital to finance the purchase of majority interest in
Flexera from Thoma Bravo and refinance existing indebtedness. The
rating outlook is stable. Moody's expects to withdraw the ratings
for Flexera Software, Inc's debt ratings at the close of the
proposed transaction and upon full repayment of debt.

RATINGS RATIONALE

Flexera's B3 rating reflects a meaningful increase in debt to fund
the purchase of majority interest, especially in the context of
the Company's limited operating scale. Moody's estimates the
increase in debt will raise Flexera's Debt-to-EBITDA leverage to
about 5.8x from approximately 3.8x for the LTM June 2011 period
(incorporating Moody's standard analytical adjustments). The B3
CFR is constrained by Flexera's high pro-forma financial leverage
and its modest overall size / scale and concentrated business
profile as a specialty provider of software asset management
solutions to independent software vendors, device manufacturers,
and enterprise IT customers. The B3 CFR also incorporates
Flexera's high business risks resulting from its highly
competitive industry with large competitors and "home grown"
solutions. Countervailing these risks to some degree, the rating
is supported by Flexera's niche market position and well-regarded
product offerings within its niche, but growing, application usage
management segment of the software industry resulting from its
expertise and long operating history in its niche segment. The
rating also benefits from the Company's large and diverse customer
base, its high levels of recurring revenues combined with high
renewal rates in the 90%-range, and its good prospective free cash
flow generation.

The stable outlook reflects Moody's expectation that Flexera will
continue to maintain its competitive market position. In Moody's
view, increasing spending in the software assets management of the
IT industry, coupled with Flexera's expanding sales channels,
should be supportive of revenue and EBITDA growth in the low-to-
mid single digit rates in the next 12-to-18 months, and as a
result, leverage should steadily decline. Moody's additionally
expects the Company's liquidity to improve through free cash flow
generation.

Flexera's CFR could be downgraded if the Company experiences
declining revenue or free cash flows as a result of poor
execution, heightened competition or erosion in market share.
Specifically, downward rating pressure could develop if Flexera is
unable to maintain total debt-to-EBITDA leverage below 6.0x, free
cash flow falls below 5% of its adjusted total debt or liquidity
weakens materially.

Given Flexera's modest scale, niche product focus, and the
potential for future shareholder distributions, a ratings upgrade
is unlikely over the near-term. However, to the extent that the
Company is able to grow and sustain a meaningfully higher level of
earnings while maintaining a conservative leverage profile and
good liquidity, the ratings or the outlook could be raised.

Moody's has assigned these ratings:

Issuer: Flexera Merger LLC

Corporate Family Rating -- B3

Probability of Default Rating -- B3

Proposed $25 Million Senior Secured Revolving Credit Facility due
2016 -- B2 (LGD3 - 34%)

Proposed $230 Million Senior Secured First Lien Term Loan due 2017
-- B2 (LGD3 - 34%)

Proposed $100 Million Senior Secured Second Lien Term Loan due
2018 -- Caa2 (LGD5 - 87%)

Outlook Assignment:

Issuer: Flexera Merger LLC

Outlook: Stable

These ratings will be withdrawn upon the close of transaction:

Issuer: Flexera Software, Inc

Corporate Family Rating -- B2

Probability of Default Rating -- B3

$15 Million Senior Secured Revolving Credit Facility due 2015 --
B2 (LGD3 - 35%)

$220 Million Senior Secured First Lien Term Loan due 2016 -- B2
(LGD3 - 35%)

The assigned ratings are subject to satisfactory review of final
documentation and no material change in the terms and conditions
of the transaction as advised to Moody's.

The principal methodology used in rating Flexera Software, Inc.
was the Global Software Industry Methodology published in May
2009. Other methodologies used include Loss Given Default for
Speculative-Grade Non-Financial Companies in the U.S., Canada and
EMEA published in June 2009.

Headquartered in Schaumburg, IL, Flexera Software, Inc. provides
software products and services to software vendors and enterprise
customers to facilitate electronic entitlement management,
software asset management, compliance and electronic downloading
installations. Pro forma revenues for the LTM period ended June
30, 2011 were approximately $155 million.


FUSION TELECOMMUNICATIONS: Borrows $50,000 from Marvin Rosen
------------------------------------------------------------
Fusion Telecommunications International, Inc., borrowed $50,000
from Marvin S Rosen, a Director of the Company.  This note (a) is
payable on demand in full upon 10 days notice of demand from the
lender, (b) bears interest on the unpaid principal amount at the
rate of 3.25% per annum, and (c) grants the lender a
collateralized security interest, pari passu with other lenders,
in the Company's accounts receivable.  The proceeds of this note
are to be used primarily for general corporate purposes.

                  About Fusion Telecommunications

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

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

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

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


GENBAND HOLDINGS: S&P Affirms 'B' Corporate Credit Rating
---------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating on Plano, Texas-based Internet protocol (IP) network
solutions provider GENBAND Holdings Co. (f/k/a GENBAND Inc.). "At
the same time, we removed the ratings from CreditWatch with
negative implications, where they were placed on July 12, 2011.
The outlook is negative," S&P related.

"The ratings reflect our expectation that the Nortel CVAS business
integration has been largely completed," said Standard & Poor's
credit analyst William Backus, "and that any additional
restructuring expenses will be minimal." "We expect that EBITDA
generation will substantially improve during the second half of
2011, reflecting typical seasonality and the benefit from new
product offerings of the merged operations. However, we view the
company's liquidity as less than adequate, reflecting modest
sources of cash, and a history of negative free operating cash
flow (FOCF) over the past 12 months due to acquisition integration
costs, increased R&D, and working capital investments."


GOLDCOAST LIQUIDATING: Plan Confirmation Hearing Set for Sept. 23
-----------------------------------------------------------------
The Hon. Kevin Gross of the U.S. Bankruptcy Court for the District
of Delaware will convene a hearing on Sept. 23, 2011, at
9:30 a.m., prevailing Eastern Time, to consider the confirmation
of Goldcoast Liquidating, LLC, et al.'s proposed First Amended
Plan of Liquidation.

On Aug. 3, the Court approved the disclosure statement explaining
the Plan.

Any objection and ballots accepting or rejecting the plan were due
the first business day that is at least 28 days after the Date the
Debtors serve the confirmation hearing notice.

As reported in the Troubled Company Reporter on Aug. 9, 2011, the
scheduled confirmation hearing was made possible through
settlement brought about in mediation between the official
creditors' committee and subordinated noteholder Black Canyon
Capital LLC.  The committee was seeking subordination of Black
Canyon's claim.

The TCR reported that early in the case when the business was
being sold, the secured lenders agreed to a carveout from sale
proceeds to forestall objection to the sale from the creditors'
committee.  The disclosure statement says that the trust for
creditors was funded with $1.835 million.  The disclosure
statement on the court's file still had blanks where unsecured
creditors would be told the size of a recovery to expect.

From the settlement, Black Canyon won't participate in the trust
for unsecured creditors.  Instead, it will receive $475,000 from
the trust.

The disclosure statement says that secured creditors with claims
of $69.2 million can expect a 54% recovery, according to the
report.

The Court also extended until Sept. 30, the Debtors' exclusive
period to solicit acceptances for the proposed plan.

                      About Claim Jumper

Irvine, California-based Claim Jumper Restaurants, LLC --
http://www.claimjumper.com/-- operated a chain of casual dining
restaurants.  It was founded in 1977.  It had locations in
Arizona, California, Colorado, Illinois, Nevada, Oregon,
Washington, and Wisconsin.

Claim Jumper filed for Chapter 11 bankruptcy protection (Bankr.
D. Del. Case No. 10-12819) on Sept. 10, 2010.  The Debtor
estimated its assets at $50 million to $100 million and debts at
$100 million to $500 million as of the Petition Date.

The Debtor's affiliate, Claim Jumper Management, LLC, filed a
separate Chapter 11 petition (Bankr. D. Del. Case No. 10-12820).

Curtis A. Hehn, Esq., and James E. O'Neill, Esq., and Laura Davis
Jones, Esq., at Pachulski Stang Ziehl & Jones LLP, in Wilmington,
Del., are the Debtors' local counsel.  Attorneys at Milbank,
Tweed, Hadley & McCloy LLP, in Los Angeles, Calif., are the
Debtors' general bankruptcy counsel.  Piper Jaffray & Co. is
the Debtors' financial advisors and investment bankers.  Kurtzman
Carson Consultants LLC is the Debtors' notice, claims and
solicitation agent.

The Creditors Committee has selected Klehr Harrison Harvey
Branzburg LLP, in Wilmington, Del. as counsel.

In December 2010, Claim Jumper completed the sale its business
to Landry's Restaurants Inc., in a transaction valued at
$76.6 million.  Landry's outbid the offer of holders of mezzanine
debt with a winning bid that included $48.3 million cash, the
assumption of $23.3 million in debt, and $5 million cash to
collateralize existing letters of credit.  The Debtor changed its
name to Goldcoast Liquidating LLC following the sale.


GREAT IRISH: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Great Irish Pubs KC Inc.
        170 East 14th Street
        Kansas City, MO 64105

Bankruptcy Case No.: 11-44085

Chapter 11 Petition Date: August 30, 2011

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

Judge: Arthur B. Federman

Debtor's Counsel: Frank Wendt, Esq.
                  BROWN & RUPRECHT, P.C.
                  911 Main Street, Suite 2300
                  Kansas City, MO 64105-5319
                  Tel: (816) 292-7000
                  Fax: (816) 292-7050
                  E-mail: fwendt@brlawkc.com

Scheduled Assets: $2,107,720

Scheduled Debts: $8,812,748

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/mowb11-44085.pdf

The petition was signed by Paul Nolan, president.


GREYSTONE LOGISTICS: Amends Form 8-K Relating to 2005 Loan Pact
---------------------------------------------------------------
The F&M Bank & Trust Company, Greystone Manufacturing, L.L.C., a
wholly-owned subsidiary of Greystone Logistics, Inc., and GLOG
Investment, L.L.C., an entity owned by Warren F. Kruger,
president, chief executive officer and a director of the Company,
and Robert B. Rosene, Jr., a director of the Company, entered into
two amendments to that certain Loan Agreement, dated March 4,
2005, by and among those parties.  The 2011 Amendments (a) have an
effective date of March 15, 2011, (b) cause all of Greystone
Manufacturing's accrued debt under the Loan Agreement to be
transferred into a single term loan facility, with such facility
being in the aggregate principal amount of $6,097,776 and having a
maturity date of March 13, 2014, (c) renew GLOG's obligations
under the Loan Agreement in the principal amount of $3,722,154
until March 15, 2014, (d) provide for cross-collateralization and
cross-default among property and debts of Greystone Manufacturing,
GLOG and Greystone Real Estate, L.L.C., an entity owned by W.
Kruger and R. Rosene, (e) impose certain guaranty requirements on
W. Kruger and R. Rosene, and (f) add to the Loan Agreement certain
financial covenants, reporting requirements and other provisions
that are customary in such types of agreements.

A provision of the Company's Code of Ethics requires its
directors, officers and employees to avoid conflicts of interest
and for the Board of Directors to preapprove any action that could
be a conflict of interest.  The cross-collateralization and cross-
default provisions of the 2011 Amendments could constitute a
conflict of interest under that provision of the Code of Ethics in
so far as they may cause the Company to become responsible for the
debt of entities wholly owned by the directors or officers of the
Company.  The Company's Board of Directors granted an implicit
waiver to that provision of the Code of Ethics, effective as of
March 28, 2011.   The cross-collateralization and cross-default
provisions contained in the 2011 Amendments were added at the
insistence of F&M in connection with the upsize and renewal of the
Loan Agreement.  The Company's management and the members of the
Company's Board of Directors considered the 2011 Amendments to be
in the best interest of the Company even with the cross-
collateralization and cross-default provisions contained therein
as F&M would not have agreed to such upsize and renewal in the
absence of the cross-collateralization and cross-default
provisions.

                     About Greystone Logistics

Tulsa, Okla.-based Greystone Logistics, Inc. (OTC BB: GLGI.OB -
News) -- http://www.greystonelogistics.com/-- manufactures and
sells plastic pallets through its wholly owned subsidiary,
Greystone Manufacturing, LLC.  Greystone sells its pallets through
direct sales and a network of independent contractor distributors.
Greystone also sells its pallets and pallet leasing services to
certain large customers direct through its President, Senior Vice
President of Sales and Marketing and other employees.

As reported in the Troubled Company Reporter on Sept. 17, 2010,
HoganTaylor LLP, in Tulsa, Okla., expressed substantial
doubt about the Company's ability to continue as a going concern,
following the Company's results for the fiscal year ended May 31,
2010.  The independent auditors noted that at May 31, 2010, the
Company has a stockholders' deficit of $7.7 million and a working
capital deficit of $12.6 million.

The Company's balance sheet at Feb. 28, 2011 showed $10.42 million
in total assets, $19.22 million in total liabilities, and a
$8.80 million total deficit.


HOLDINGS OF EVANS: Case Summary & 9 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Holdings of Evans LLC
          dba Candlewood Suites
        3543 Interlachen Drive
        Martinez, GA 30907

Bankruptcy Case No.: 11-11756

Chapter 11 Petition Date: September 2, 2011

Court: U.S. Bankruptcy Court
       Southern District of Georgia (Augusta)

Debtor's Counsel: Todd Boudreaux, Esq.
                  SHEPARD PLUNKETT HAMILTON BOUDREAUX
                  7013 Evans Town Center Boulevard, Suite 303
                  Evans, GA 30809
                  Fax: (706) 868-6788
                  E-mail: tboudreaux@shepardplunkett.com

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

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

The petition was signed by GB Sharma, managing member.

Debtor's List of nine Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Vista Bank                         Construction Loan      $460,000
128 Laurens Street
P.O. Box 315
Aiken, SC 29802

Claussen Loan                      Personal Loan          $396,773
3543 Interlachen
Martinez, GA 30907

M.R. Sridharan                     Personal Loan          $296,683
642 High Hampton Drive
Martinez, GA 30907

G.B. Sharma                        Personal Loan          $270,000
3543 Interlachen Drive
Martinez, GA 30907

South East Hospitality             Purchases              $155,000

Brian Leonard                      Services Rendered        $2,000

Mr. Shawn Fitzpatrick Bratton      Consulting Services      $1,209

Lovett Law Firm                    Notice Only             Unknown

Neil L. Wilcove                    Notice Only             Unknown


HOWREY LLP: Former CEO Collects $113,000 in August
--------------------------------------------------
Robert Ruyak's law firm may be bankrupt, but the former Howrey
chairman and CEO collected $113,191 last month, according to
reporting by Sara Randazzo at the AM Law Daily, citing a summary
of expenses filed by the defunct firm's estate.

According to the report, the payout to Mr. Ruyak is one of several
notable items listed in the summary, which also includes details
about several cases and clients on the firm's docket before the
firm dissolved.  Howrey was pushed into involuntary Chapter 7
bankruptcy in April and converted its case to a voluntary Chapter
11 filing in June.

The report says the July report shows that the estate has assets
totaling $53.8 million-including $5.6 million in unrestricted cash
-- against unknown liabilities, a substantial change from the
$138.7 in assets and $107 million in liabilities recorded earlier
this year.

Other members of the committee received more modest payments in
July, the filing shows.  Arent Fox, home to committee member and
former Howrey partner Martin Cunniff, received $31,845.  Committee
member Gary Fischman received $11,750, the report notes.

The report notes, meanwhile, with Howrey having already staged a
well-attended Washington, D.C., auction of its office furniture
and equipment auction, the firm's estate now appears set to put
firm-owned artwork on the block, according to the July filing.

The firm lists art valued at $1.2 million among its assets.  One
sign that those assets, which were originally purchased for
$734,500, will be sold off: July payments of several hundred
dollars apiece to a pair of art services companies, according to
the monthly operating report.  Selling artwork has proven
worthwhile for other troubled law firms.  Dreier LLP, the firm
founded by disgraced attorney Mark Dreier, sold its art in 2010.
The bankrupt Heller Ehrman firm earned half a million dollars with
an art auction of its own that same year.

The report says at the heart of that suit are the Agriculture
Department's admittedly discriminatory lending practices toward
non-white farmers over the years.  While the federal government
has already paid more than $1 billion to Indian and black farmers
asserting similar claims, the Hispanic farmers have not yet
finalized a settlement in their action.

The report also shows that the Howrey estate is seeking the
court's approval to collect $1.5 million in contingency fees
awarded in a matter it took on in 2006 for North Sea Investments
Inc.  The case, which involved the sale, lease-back, and
subsequent loss of a drilling rig, was resolved Aug. 22.  A
hearing to consider the fee was scheduled for Aug. 31.

On another front, Howrey continues to wrestle with its Washington,
D.C., landlord.  The estate sued Warner Investments on August 19
over how much it owes on its former headquarters at 1299
Pennsylvania Avenue.  Howrey contends it renegotiated a new lease
with Warner in April that would make the estate liable for just
$586,757 in rent from April through December 2011-significantly
less than the $7.7 million the landlord claims it is owed.

                         About Howrey LLP

Three creditors filed an involuntary Chapter 7 petition (Bankr.
N.D. Calif. Case No. 11-31376) on April 11, 2011, against the
remnants of the Washington-based law firm Howrey LLP.  The filing
was in San Francisco, where the firm had an office.  The firm
previously was known as Howrey & Simon and Howrey Simon Arnold &
White LLP.  The firm at one time had more than 700 lawyers in 17
offices.  The partners voted to dissolve in March.

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

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


INCOMING INC: Posts $61,700 Net Loss in 2nd Quarter
---------------------------------------------------
Incoming, Inc., filed its quarterly report on Form 10-Q, reporting
a net loss of $61,746 on $437,274 of revenues for the three months
ended June 30, 2011, compared with net income of $10,273 on
$327,710 of revenues for the predecessor period ended June 30,
2010.

The Company reported a net loss of $213,327 on $515,899 of
revenues for the six months ended June 30, 2011, compared with net
income of $24,576 on $418,751 of revenues for the predecessor
period ended June 30, 2010.

The Company's balance sheet at June 30, 2011, showed $1.6 million
in total assets, $1.1 million in total liabilities, and
stockholders' equity of $446,866.

As of June 30, 2011, the Company had a working capital deficiency
of $319,684, and had accumulated a deficit of $4,357,286.  Its
ability to continue as a going concern is dependent upon the
ability of the Company to generate profitable operations in the
future and/or to obtain the necessary financing to meet its
obligations and repay its liabilities arising from normal business
operations when they come due.  "These factors raise substantial
doubt that the Company will be able to continue as a going
concern."

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

Headquartered in New York, Incoming, Inc. (ICNN.OB)
-- http://www.incominginc.com/-- is a renewable energy company
engaged in the production and distribution of biodiesel and
renewable fuels.  The Company's current holdings include North
American Bio-Energies, LLC, a biodiesel production facility
located in North Carolina.


INDIANA EQUITY: Has Until Sept. 30 to File Chapter 11 Plan
----------------------------------------------------------
The Hon. Eugene R. Wedoff of the U.S. Bankruptcy Court for the
Northern District of Illinois extended the exclusive periods of
Indiana Equity Investments LLC to file a Chapter 11 plan until
Sept. 30, 2011, and solicit acceptances of that plan until
Nov. 30, 2011.

The Debtor told the Court that it requires additional time to
complete the joint plan of reorganization and supporting
disclosure statement.  Furthermore, the efforts of certain of the
related Debtors have been mostly consumed by defending cash
collateral objections and opposition to the retention of a
financial advisor as well as with administrative compliance in the
most recently filed Chapter 11 cases.

                       About Indiana Equity

Based in Alsip, Illinois, Indiana Equity Investments, LLC, aka
Autumnwoods Apartments and Brendonwood Apartments, owns two
commercial multi-family properties located in Fort Wayne, Indiana.
It filed for Chapter 11 bankruptcy (Bankr. N.D. Ill. Case No.
11-19277) on May 5, 2011.  Judge Eugene R. Wedoff presides over
the case.  David K. Welch, Esq., at Crane Heyman Simon Welch &
Clar, serves as the Debtor's bankruptcy counsel.  In its petition,
the Debtor estimated $10 million to $50 million in assets and
$1 million to $10 million in debts.

Indiana Equity's petition was signed by Joseph Junkovic, as the
manager.  Mr. Junkovic commenced his own Chapter 11 case (Bankr.
N.D. Ill. Case No. 10-55888) in 2010.


INDIANA EQUITY: Court Approves Tailwind Services as Fin'l Advisor
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois
authorized Indiana Equity Investments, LLC, to employ Gregg
Szilagyi and Tailwind Services LLC as its financial advisor.

Tailwind, will, among other things:

   a. assist with the administration of the Chapter 11 case,
      including the preparation of schedules and monthly operating
      reports;

   b. assist with the restructuring of the mortgage indebtedness
      on the Debtor's properties; and

   c. identify and implement a cohesive cash management system for
      the Debtor's properties;

The Debtor has agreed to pay Tailwind a monthly flat fee of $3,500
commencing in June 2011 and amending the cash collateral order
entered in this case to allow said payment.

The Debtor assured the Court that the firm is a "disinterested
person" as defined in Section 101(14) of the Bankruptcy Code.

                       About Indiana Equity

Based in Alsip, Illinois, Indiana Equity Investments, LLC, aka
Autumnwoods Apartments and Brendonwood Apartments, owns two
commercial multi-family properties located in Fort Wayne, Indiana.
It filed for Chapter 11 bankruptcy (Bankr. N.D. Ill. Case No.
11-19277) on May 5, 2011.  Judge Eugene R. Wedoff presides over
the case.  David K. Welch, Esq., at Crane Heyman Simon Welch &
Clar, serves as the Debtor's bankruptcy counsel.  In its petition,
the Debtor estimated $10 million to $50 million in assets and
$1 million to $10 million in debts.

Indiana Equity's petition was signed by Joseph Junkovic, as the
manager.  Mr. Junkovic commenced his own Chapter 11 case (Bankr.
N.D. Ill. Case No. 10-55888) in 2010.


INDIO SUN: U.S. Trustee Gets Dismissal of Ch. 11 Cases
------------------------------------------------------
On Aug. 10, 2011, the U.S. Bankruptcy Court for the Central
District of California entered an order dismissing Indio Sun,
LLC's Chapter 11 case.  On July 21, 2011, Peter C. Anderson, the
United States Trustee for Region 16, filed a stipulation to
dismiss the Debtor's bankruptcy case and enter judgment in favor
of the United States Trustee for unpaid quarterly fees.

There being no further matters requiring the case to remain open,
on Aug. 25, 2011, the Court order that the case be closed.

San Diego, California-based Indio Sun LLC, fdba Palm Desert
Heights Development Group LLC, filed for Chapter 11 bankruptcy
protection (Bankr. C.D. Calif. Case No. 10-33217) on July 25,
2010.  Sandford Frey, Esq., who has an office in Los Angeles,
California, assists the Company in its restructuring efforts.  In
its schedules, the Debtor listed $18,500,300 in assets and
$5,738,231 in liabilities.


INNKEEPERS USA: As Sale Collapses, Asks for More Time to File Plan
------------------------------------------------------------------
Innkeepers USA Trust and its debtor-affiliates ask the U.S.
Bankruptcy Court for the Southern District of New York to extend
their exclusive period to file a Chapter 11 plan until Jan. 19,
2012, and solicit acceptances of that plan until March 19, 2012.

According to the Debtors, most recently, since Cerberus/Chatham
informed the Debtors they would not close on the purchase of
Innkeepers' assets, the Debtors have acted prudently to ensure
their business will continue to operate as smoothly as it has
since the commencement of these cases over one year ago.  The
Debtors are working closely with their constituents to develop a
new strategy.

The Debtors, with the assistance of their advisors, including
their investment banker, Moelis & Company LLC, have begun to
develop a marketing process for the assets in the event
Cerberus/Chatham do not live up to their contractual obligations.
The Debtors have also requested extensions of the Lehman DIP
Facility and the Five Mile DIP Facility, which are scheduled to
expire on Sept. 12 and 19, 2011, respectively.

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

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

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

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

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

The Debtors have filed a complaint against Cerberus, Chatham
Lodging Trust and other related defendants for breach of contract
and other claims for reneging on their commitment to acquire 64
hotels from Innkeepers.  The lawsuit is Innkeepers USA Trust v.
Cerberus Four Holdings LLC (In re Innkeepers USA Trust), 11-02557,
U.S. Bankruptcy Court, Southern District New York (Manhattan).

                    About Innkeepers USA Trust

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

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

Apollo Investment Corporation acquired Innkeepers in June 2007.

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

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


JCK HOTELS: Committee Opposes Lender's Plea to Dismiss Case
-----------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
case of JCK Hotels, LLC, formerly known as Mira Mesa Hotels, LLC,
asks the U.S. Bankruptcy Court for the Southern District of
California to deny the motion to dismiss the Debtor's case.

As reported in the Troubled Company Reporter on Aug. 12, 2011,
secured creditor LBUBS 2005-C2 Mira Mesa Limited Partnership has
moved for the dismissal of the Debtor's Chapter 11 case.

LBUBS said that pursuant to state law and the terms of the
Debtor's limited liability company operating agreement, the
manager lacked the authority to initiate the bankruptcy
proceeding.  Additionally, the petition was filed in bad faith and
is therefore subject to dismissal, according to LBUBS.

The Committee joins the Debtor's opposition to the creditor's
motion.  The Committee argues that:

   1. dismissal is not in the best interests of creditors or the
      estate; and

   2. it disagrees that the Debtor does not have the authority to
      file for bankruptcy protection.

The Court will consider the motion to dismiss at a hearing on
Sept. 15, 2011, at 2:00 p.m.

                       About JCK Hotels, LLC

JCK Hotels, LLC, fka Mira Mesa Hotels, LLC, operates the Holiday
Inn Express Mira Mesa Hotel and the Comfort Suites Mira Mesa Hotel
in San Diego, California.  The Hotels are operated under licensing
and franchise agreements with Holiday Inn Express and Comfort
Suites.

JCK Hotels filed for Chapter 11 bankruptcy (Bankr. S.D. Calif.
Case No. 11-09428) on June 3, 2011.  Judge Louise DeCarl Adler
presides over the case.  William M. Rathbone, Esq., and Daniel C.
Silva, Esq., at Gordon & Rees LLP, in San Diego, Calif., serve as
bankruptcy counsel.  While no formal appraisal has been done
recently, the Debtor believes the fair market value of both Hotels
exceeds $18 million.  The petition was signed by Charles Jung,
managing member.


JELD-WEN INC: Bonds Sale Fails, May Be Forced to File for Ch. 11
----------------------------------------------------------------
Richard Read at the Oregonian reports that Jeld-Wen Inc. faces
potential bankruptcy after failing to sell junk bonds needed for a
rescue deal.

According to the report, the Company has closed plants, sold
assets, laid off workers, cut spending and amassed debt after a
body blow from the 2008 housing market crash.  Now a takeover by
Onex Corp., a Canadian private equity firm, appears in jeopardy
because Jeld-Wen can't sell $575 million in bonds necessary for
the deal.

The report says a bankruptcy by Jeld-Wen would be a stunning turn
for the family-controlled company built by Dick Wendt into a
global giant that made him a billionaire long before he died last
year.  Managers of Jeld-Wen, led by the co-founder's son, Chief
Executive Rod Wendt, were in bunker mode as representatives of the
company and Onex did not return repeated phone calls.

Earlier this year, Jeld-Wen, laboring under $1.2 billion in debt,
negotiated a cash infusion from Onex, intending to give the
Canadians a minority stake.  Last month, however, Onex abruptly
announced that it would boost its investment to $864 million and
take a majority stake, ending family control of the 50-year-old
company.

The report relates that the Onex deal depended on Jeld-Wen selling
the $575 million in bonds, according to Ron Saxton, the Company's
executive vice president and chief administrative officer.  Saxton
spoke last month before company officials stopped returning phone
calls.  He said Rod Wendt was leading a delegation to several
cities to market the bonds.

Moody's and Standard & Poor's gave them junk ratings.  Covenant
Review, an independent bond reviewer in New York, issued a searing
16-page report warning of serious problems.

Founded in 1960, Jeld-Wen Inc. is privately held company by the
Wendt family and employees, with plans to sell a majority stake to
Onex Corp.  The Company makes doors, windows and other building
parts.  The Company has 20,000 employees worldwide; 2,500 in
Oregon, including 1,125 in Klamath County, Oregon.


KEARSARGE HOUSE: Case Summary & 16 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Kearsarge House, LLC
        26 Brickyard Court, Suite 6
        York, ME 03909

Bankruptcy Case No.: 11-21276

Chapter 11 Petition Date: August 30, 2011

Court: United States Bankruptcy Court
       Maine (Portland)

Debtor's Counsel: Peter G. Cary, Esq.
                  MITTEL ASEN, LLC
                  85 Exchange Street
                  Portland, ME 04101
                  Tel: (207) 775-3101
                  E-mail: pcary@mittelasen.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/meb11-21276.pdf

The petition was signed by Harold E. Anderson, manager, A-K
Holding Company, LLC.


KT SPEARS: Wants Final Authority to Use RBC Bank Cash Collateral
----------------------------------------------------------------
KT Spears Creek, LLC, asks the U.S. Bankruptcy Court for the
District of South Carolina for an order granting it final
authority to use cash collateral in which RBC Bank asserts a
security interest, to pay operational expenses of the business,
pursuant to a budget.

As adequate protection for the use of cash collateral, the Debtor
agrees to provide RBC a replacement lien on post-petition accounts
receivable and cash proceeds of post-petition accounts receivable
to the same extent and priority as its pre-petition liens, up to
the extent of any diminution in the Cash Collateral postpetition.

RBC asserts that it has a perfected first priority pre-petition
security interest in the Debtor's rents derived from the Apartment
Complex.  RBC and the Debtor believe that RBC has a claim in the
approximate amount of $22,494,712.

A copy of the budget is available at:

           http://bankrupt.com/misc/ktspears.doc68.pdf

RBC objects to the motion, on the basis that rents from the real
property that serves as collateral for the RBC Bank debt are
absolutely assigned to RBC Bank in its Assigment of Rents and any
residual right of the Debtor in the rents after execution of the
Assignment was revoked prior to RBC Bank's filing of the state
court complaint and stripped by the appointment of the Receiver in
the foreclosure action.  Further, RBC says Debtor's proposal to
take the collateral of RBC Bank to use to pay other secured
creditors is outrageous.

                        About KT Spears

KT Spears Creek, LLC, in Houston, Texas, is the owner of the
Greenhill Parrrish Crossing Apartment Homes, a 240-unit apartment
complex located in Elgin, South Carolina.  The Debtor originally
filed for Chapter 11 bankruptcy (Bankr. S.D. Tex. Case No. 11-
33991) on May 3, 2011, Judge Letitia Z. Paul presiding.  The
Debtor estimated $10 million to $50 million in both assets and
debts.  The petition was signed by Kyle D. Tauch, sole member.

On June 8, 2011, the Hon. Letitia Z. Paul transferred the Debtor's
Chapter 11 case to the Bankruptcy Court for the District of South
Carolina.  The Case No. is 11-04241.  The case was assigned to
Chief Judge John E. Waites.  Daniel J. Reynolds, Jr., Esq., G.
William McCarthy, Jr., Esq., and Sean P. Markham, Esq., at
McCarthy Law Firm, LLC, in Columbia, S.C., represent the Debtor as
counsel.


KT SPEARS: U.S. Trustee Objects to Realtor Application
------------------------------------------------------
W. Clarkson McDow, Jr., the United States Trustee for Region 4
objects to KT Spears Creek, LLC's appliation to employ
Professional Realty, Inc., as real estate agent.

The U.S. Trustee tells the Court that Professional Realty and its
principal, George M. Lee, III, are not "disinterested" as required
by Section 327(a) of the Bankruptcy Code and may not serve as
professionals for the Debtor.  He points out that the Debtor's
application to employ Professional Realty and Mr. Lee and the
accompanying required affidavit show that Mr. Lee, the broker-in-
charge of Professional Realty, owns a one-third interest in a
business, Sparkleberry LLC, with the Debtor's principal and sole
owner, Kyle D. Tauch.

Because Mr. Tauch owns, controls, or holds the power to vote 20%
or more of Sparkleberry, Sparkleberry is an "affiliate" of the
Debtor, the U.S. Trustee explains.

Section 101(31)(E) of the Bankruptcy Code designates an insider of
an affiliate as an insider of the Debtor making Mr. Lee and
Professional Realty not disinterested disqualifying either from
serving as a professional for the Debtor, the U.S. Trustee
contends.

A hearing on the Application is scheduled for September 6, 2011 at
9:00 a.m.

                         About KT Spears

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

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


LABELCORP HOLDINGS: S&P Puts 'B' CCR on CreditWatch Developing
--------------------------------------------------------------
Standard & Poor's Ratings Services placed its ratings on LabelCorp
Holdings Inc., including the 'B' corporate credit rating, on
CreditWatch with developing implications.

The CreditWatch listing follows Multi-Color Corp.'s planned
acquisition of LabelCorp Holdings Inc. for $356 million.  The
developing implication of the listing indicates that Standard &
Poor's could raise, lower, or affirm the ratings following further
review of the transaction.

"A modest upgrade is possible if the transaction improves the
company's business or financial profiles, and therefore credit
quality," said Standard & Poor's credit analyst Henry Fukuchi. "We
could also lower or affirm the ratings if the transaction results
in a leveraged financial profile with limited offsetting positive
factors."

A rating action will be subject to a review of more information on
the competitive position of the combined company and financial
policies and capital structure, assuming the deal closes as
planned. The companies expect the transaction to close on or about
Oct. 2, 2011.

LabelCorp Holdings Inc. manufactures prime labels for companies in
the consumer products, food and beverage, wine and spirits, and
pharmaceuticals markets.  It reported trailing-12-month sales of
about $210 million as of June 30, 2011.


LAX ROYAL: Wants Chapter 11 Case Converted to Chapter 7
-------------------------------------------------------
LAX Royal Airport Center L.P. asks the U.S. Bankruptcy Court for
the Central District of California to convert its Chapter 11 case
to a case under Chapter 7 of the Bankruptcy Code.

                 About LAX Royal Airport Center, LP

Los Angeles, California-based LAX Royal Airport Center, LP, filed
for Chapter 11 bankruptcy protection (Bankr. C.D. Calif. Case No.
11-12333) on Jan. 19, 2011.  The Debtor estimated assets at $10
million to $50 million and debts at $1 million to $10 million.  No
request for the appointment of a trustee or examiner was made.


LDG MIDWAY: Case Summary & 17 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: LDG Midway Plaza LLC
        1295 Discovery Street
        San Marcos, CA 92078

Bankruptcy Case No.: 11-14549

Chapter 11 Petition Date: August 31, 2011

Court: United States Bankruptcy Court
       Southern District of California (San Diego)

Judge: Laura S. Taylor

Debtor's Counsel: Krikor Meshefejian, Esq.
                  Ron Bender, Esq.
                  LEVENE, NEALE, BENDER, YON & BRILL LLP
                  10250 Constellation Blvd., Suite 1700
                  Los Angeles, CA 90067
                  Tel: (310) 229-1234
                  Fax: (310) 229-1244
                  E-mail: kjm@lnbyb.com
                          rb@lnbyb.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 17 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/casb11-14549.pdf

The petition was signed by Matthew C. DiNofia, sole member and
manager.

Affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Citizens Development Corp.             10-15142   08/26/10
LSM Executive Course, LLC              10-07480   04/30/10
LSM Hotel, LLC                         10-13024   07/26/10


LENOX 126: Court Approves Griffon's Cash Use Until Oct. 10
----------------------------------------------------------
The Hon. Sean H. Lane of the U.S. Bankruptcy Court for the
Southern District of New York approved a final stipulation
authorizing Lenox 126 Realty LLC to access Griffon Heights LLC's
cash collateral until Oct. 10, 2011, unless extended by
stipulation or order.

As reported in the Troubled Company Reporter on July 6, 2011, the
Debtor owns a parcel of real property located at 101 West
126th Street, also known as 321 Lenox Avenue, New York City.  The
property is a 6 story apartment building, with 32 residential
units, 2 commercial units, and 2 cell towers.  The property has a
$9,000,000 value based upon purchase offers for the property
received within the last two months.

The property is encumbered by real estate tax, water and sewer
liens in the amount of approximately $316,400.  Griffon Heights
LLC, the lender, asserts a first mortgage claim in the amount of
$10,521,505.

The property is also encumbered by a second mortgage in the amount
of approximately $3,093,642 which the Debtor estimates is
completely unsecured.  In addition, the Debtor's general unsecured
creditors have claims totaling  approximately $679,983.  The
unsecured claims, together with mortgage deficiency claims, total
approximately $5,241,444.

The Debtor's indebtedness to Griffon as of the Petition Date, is
approximately $11,826,048, plus all applicable interest, costs,
fees and expenses provided for in the note.

The stipulation entered between the Debtor and Griffon provides
that:

   -- The Debtor would use the cash collateral to pay for its
      ordinary and necessary postpetition operating expenses.  The
      Debtor will obtain Griffon's written permission before
      making or incurring any obligation or making or incurring
      any expenditures from the cash collateral accounts, in
      excess of 5%.

   -- No cash collateral will be used in payment of any
      kind whatsoever to Debtor's officers, directors,
      shareholders, employees, relatives or any representatives or
      affiliates thereof, or any insiders.

   -- The Debtor may use cash collateral on an emergency basis, in
      an amount not to exceed, in any one month, the sum of $1,000
      per month; provided, however, that the Debtor will notify
      the Griffon within 24 hours after any expenditures are made.

   -- The Debtor will maintain property, casualty, and
      liability insurance coverage as provided in the mortgage in
      connection with the collateral.  Th Debtor will promptly
      furnish Griffon with proof of the insurance.

   -- As adequate protection for the Debtor's use of cash
      collateral, within seven days of entry of the order, will
      remit to Griffon all cash collateral in its possession, less
      $20,000.

   -- The stipulation is subject to a carve out for Debtor's
      reasonable professional fees up to $15,000 for Chapter 7
      reasonable trustee fees, if applicable, and all fees payable
      to the U.S. Trustee.

Griffon is represented by:

         JASPAN SCHLESINGER LLP
         Frank C. Dell'Amore, Esq.
         300 Garden City Plaza
         Garden City, NY 11530
         Tel: (516) 393-8289
         E-mail: fdellamore@jaspanllp.com

                      About Lenox 126 Realty

Staten Island-based real estate investor Lorenzo De Luca, through
his Lenox 126 Realty LLC, filed for Chapter 11 protection (Bankr.
S.D.N.Y. Case No. 11-12275) on May 12, 2011, to block a
foreclosure sale at his apartment building at 321 Lenox Avenue in
New York.  Mr. De Luca paid $9.1 million for the building in 2006.
Mr. De Luca defaulted on a $7.5 million loan from Chinatrust bank,
which later sold the first mortgage to Delshah Capital.  In March,
State Supreme Court Justice Jane Solomon ordered the property be
sold at auction.

In its schedules, Lenox 126 Realty disclosed $10,377,689 in assets
and $14,718,905 in liabilities as of Chapter 11 filing.  Judge
Sean H. Lane presides over the case.

No committee has been appointed to date in this case.


LEVI STRAUSS: Richard Kauffman Resigns as Chairman of the Board
---------------------------------------------------------------
The Board of Directors of Levi Strauss & Co. accepted the
resignation of Richard Kauffman as its Chairman and as a Board
member, in connection with his appointment as Senior Advisor to
the United States Secretary of Energy.  Mr. Kauffman had also been
Chairman of the Board's Finance Committee and a member of the
Audit Committee.  The Board elected Stephen Neal as the new
Chairman of the Board.  Mr. Neal is also a member of the Board's
Finance Committee and Nominating, Governance and Corporate
Citizenship Committee and will retain those roles.  Robert D. Haas
will assume the position of Interim Chairman of the Finance
Committee.

                      About Levi Strauss & Co.

Headquartered in San Francisco, California, Levi Strauss & Co. --
http://www.levistrauss.com/-- is one of the world's leading
branded apparel companies.  The Company designs and markets jeans,
casual and dress pants, tops, jackets and related accessories, for
men, women and children under the Levi's(R), Dockers(R) and
Signature by Levi Strauss & Co.(TM).  The Company markets its
products in three geographic regions: Americas, Europe, and Asia
Pacific.

The Company reported net income of $149.44 million on
$4.33 billion of net sales for the year ended Nov. 28, 2010,
compared with net income of $150.71 million on $4.02 billion of
net sales for the year ended Nov. 29, 2009.

The Company's balance sheet at May 29, 2011, showed $3.11 billion
in total assets, $3.24 billion in total liabilities and a $135.43
million total stockholders' deficit.

                           *     *     *

The Company carries a 'B+' corporate credit rating from Standard &
Poor's, a 'B1' corporate family rating from Moody's Investors
Service and a 'B+' issuer default rating from Fitch Ratings.

As reported by the TCR on March 24, 2011, Fitch Ratings downgraded
its Issuer Default Rating on Levi Strauss & Co. to 'B+' from
'BB-'.  The downgrade of the IDR reflects Levi's soft operating
trends and margin compression, continued high financial leverage,
and Fitch's expectation that Levi's financial profile will not
show meaningful improvement in the next one to two years.


LEXI DEVELOPMENT: Has Interim Access to North Bay Cash Collateral
-----------------------------------------------------------------
On Aug. 12, 2011, the U.S. Bankruptcy Court for the Southern
District of Florida granted the Third Agreed Ore Tenus motion for
continued interim approval of use cash collateral.

The Debtor is authorized to use cash collateral of secured
creditor Lexi North Bay, LLC, from the Debtor's Income, for an
additional ninety (90) days, to the extent of available cash in
the amounts set forth in a budget, through Sept. 6, 2011.

North Bay will be granted an administrative expense claim pursuant
to Sections 507 and 503 of the Bankruptcy Code to the extent of
the diminution, if any, in the value of its interests in the Cash
Collateral as of the Petition Date.

North Bay is also granted a replacement lien on all post-petition
collateral, which excludes all proceeds of property recovered or
transfers avoided by or on behalf of the Debtor, its estate or any
subsequently appointed trustee, pursuant to Sections 544 through
550, inclusive, of the Bankruptcy Code.

To the extent that North Bay is not adequately protected, it is
entitled to a priority claim in accordance with Section 507(b).

Debtor will, within 7 days after June 30, 2011, July 31, 2011, and
Aug. 31, 2011, respectively, pay to North Bay the net income for
the respective month, expected to be the Net Projected Income for
that month as set forth in the budget.

A copy of the budget is available at:

       http://bankrupt.com/misc/lexidevelopment.doc140.pdf

                       About Lexi Development

South Miami, Florida-based Lexi Development Company, Inc., owns
and is developing a 164 Unit, 19-story, mixed-use residential and
retail bay view condominium development at 1700 Kennedy Causeway,
North Bay Village, Florida, known as "The Lexi".  It filed for
Chapter 11 bankruptcy protection on June 23, 2010 (Bankr. S.D.
Fla. Case No. 10-27573).  Joshua W. Dobin, Esq., at Meland Russin
& Budwick, P.A., in Miami, Florida, serves as counsel.  In its
schedules, the Debtor disclosed $22,601,336 in total assets and
$21,558,876 in total liabilities as of the Petition Date.


LONGVIEW ALUMINUM: Similarity Approach Upheld in Insider Analysis
-----------------------------------------------------------------
The United States Court of Appeals for the Seventh Circuit held
that the bankruptcy and district courts correctly applied the
similarity approach in determining whether a member or manager of
an LLC is a statutory insider in an avoidance action involving
Longview Aluminum, L.L.C. "We acknowledge that courts consider
those factors and often use the control approach, but in this
situation . . . the similarity approach yields a better
interpretation of the statute," the appellate court said.

The insider analysis is a case-by-case decision based on the
totality of the circumstances, and bankruptcy courts have used a
variety of factors in their determinations.  One approach focuses
on the similarity of the alleged insider's position to the
enumerated statutory categories, while another approach focuses on
the alleged insider's control of the debtor.  If the alleged
insider holds a position substantially similar to the position
specified in the definition, a court will often find that
individual to be an insider.  But, based on the legislative
history of the statute, case law has also held that the term
insider can also encompass anyone with a "sufficiently close
relationship with the debtor that his conduct is made subject to
closer scrutiny than those dealing at arm's length with the
debtor."  For this second approach, courts look to the closeness
of the relationship between the parties.

The Seventh Circuit's ruling allowing the trustee of Longview
Aluminum to seek to avoid and recover $200,000 in transfers made
by the Debtor less than one year before the bankruptcy filing to
Dominic Forte, one of Longview's members, affirms the decision by
the Hon. Samuel Der-Yeghiayan of the U.S. District Court for the
Northern District of Illinois, reported in the July 26, 2010
edition of the Troubled Company Reporter, and the decision of the
Hon. Eugene Wedoff of the U.S. Bankruptcy Court for the Northern
District of Illinois, reported in the Troubled Company Reporter on
Dec. 23, 2009.

The case is APPEAL OF: DOMINIC FORTE, No. 10-2780  (7th Cir.).
The Seventh Circuit panel consists of Circuit Judges William
Joseph Bauer, Joel Martin Flaum and Ann Claire Williams.  Judge
Bauer penned the opinion.  A copy of the Seventh Circuit's Sept.
2, 2011 ruling is available at http://is.gd/Swkyjifrom
Leagle.com.

                      About Longview Aluminum

Longview Aluminum, L.L.C., operated a high-purity aluminum
smelting facility and sought chapter 11 protection on March 4,
2003 (Bankr. D. Del. Case No. 03-10642, subsequently transferred
to Bankr. N.D. Ill. Case No. 03-12184).  Longview estimated its
assets and debts at less than $10 million at the time of the
filing.  William A. Brandt serves as the Chapter 11 trustee for
the estate of Longview Aluminum, L.L.C., and is represented by
Daniel A. Zazove, Esq., and Kathleen A. Stetsko, Esq., at Perkins
Coie, LLP, in Chicago.


LOS ANGELES DODGERS: China-Backed Group Offers $1.2-Bil. for Team
-----------------------------------------------------------------
The Los Angeles Times' Bill Shaikin reported that Frank McCourt,
the owner of the Los Angeles Dodgers, has been offered $1.2
billion to sell the team to a group indirectly financed by the
government of China.

The bid is headed by Los Angeles Marathon founder Bill Burke,
according to a letter sent to Mr. McCourt on Tuesday.  The report
said the letter was disclosed to The Times by two people familiar
with its content but not authorized to discuss it publicly.

According to The Los Angeles Times report, the bid was received
with skepticism within MLB, where executives wondered whether the
proposal might be used by Mr. McCourt to stir negotiations with
other potential buyers or to persuade a Bankruptcy Court judge to
keep Mr. McCourt in charge of the team.

"There are questions within the sports industry about whether this
is a genuine offer," said one industry consultant who works
extensively with MLB and other professional sports leagues.

The offer was unsolicited, according to a person who had spoken
with Mr. McCourt's representatives but was not authorized to
discuss the conversation.

Steve Sugerman, a spokesman for Mr. McCourt, declined to comment
on whether McCourt had received the letter and whether he would
consider selling the team.

The Burke offer calls for an all-cash payment to buy the Dodgers,
all real estate related to the team and the team's media rights,
according to the letter.

The report says that according to the letter, the offer expires in
21 days,  with the goal of closing a deal within 90 days, subject
to the approvals of MLB and the Bankruptcy Court.

The letter did not say whether the bid would be subject to the
approval of Jamie McCourt, the ex-wife of Frank McCourt, who
claims half-ownership of the team.

The bid was presented on behalf of the Burke group by Signal
Capital Management of New York.

Mr. Shaikin says the letter did not specify who would finance the
Burke bid, other than to say the money would come from "certain
state-owned investment institutions of the People's Republic of
China" and unidentified American investors.

                   About the Los Angeles Dodgers

Los Angeles Dodgers LLC operates the Los Angeles Dodgers, a
professional Major League Baseball club in the Los Angeles
metropolitan area.  Frank McCourt, a Boston real-estate developer
who unsuccessfully bid for the Boston Red Sox, bought the Dodgers
from Rupert Murdoch's Fox Entertainment Group, Inc. in 2004 for
$330 million.  Mr. McCourt also bought the Dodgers Stadium from
Fox for $100 million.

Los Angeles Dodgers LLC filed for bankruptcy protection (Bankr. D.
Del. Lead Case No. 11-12010) on June 27, 2011, after MLB
Commissioner Bud Selig rejected a television deal with News
Corp.'s Fox Sports, leaving Mr. McCourt unable to make payroll for
June 30 and July 1.  Fox Sports has exclusive cable television
rights for Dodgers games until the end of 2013 baseball season.

Chapter 11 filings were also made for LA Real Estate LLC, an
affiliated entity which owns Dodger Stadium, and three other
related holding companies.

The petition estimates assets of up to $500 million and debts of
up to $1 billion.  According to Forbes, the team is worth about
$800 million, making it the third most valuable baseball team
after the New York Yankees and the Boston Red Sox.

Judge Kevin Gross presides over the case.  Lawyers at Young,
Conaway, Stargatt & Taylor and Dewey & LeBoeuf LLP serve as the
Debtors' bankruptcy counsel.  Epiq Bankruptcy Solutions LLC is the
claims and notice agent.

The LA Dodgers is the 12th sports team in North America to have
sought bankruptcy protection, according to The Wall Street
Journal.

The reorganization is being financed with a $150 million unsecured
loan from the Commissioner of Major League Baseball.  The loan
gives the Commissioner few of the controls lenders often demanded
from bankrupt companies.


LOS ANGELES DODGERS: Seeks to Hire Covington as Special Counsel
---------------------------------------------------------------
Los Angeles Dodgers LLC and its debtor affiliates seek permission
from Judge Kevin Gross of the U.S. Bankruptcy Court for the
District of Delaware to employ Covington & Burling LLP as its
special counsel, nunc pro tunc to July 20, 2011.

As the Debtors' special counsel, Covington will:

   (a) negotiate on behalf of the Debtors the terms of a potential
       transaction involving LAD's rights to broadcast future Los
       Angeles Dodgers games on cable television throughout the
       Dodgers' geographical territory, either pursuant to a
       traditional licensing deal or through the creation of a
       Regional Sports Network;

   (b) prepare on behalf of the Debtors all necessary
       transactional documents in connection with a potential
       transaction involving the Broadcast Television Rights; and

   (c) perform all other necessary legal services in connection
       with a potential transaction involving the Broadcast
       Television Rights as may be sought by the Debtors or deemed
       necessary or appropriate by Covington.

The Debtors will pay Covington according to its customary hourly
rates:

        Title                     Rate per Hour
        -----                     -------------
        Lead attorney                  $830
        Paralegal                  $195 to $355

The Debtors will reimburse Covington for expenses incurred or to
be incurred.

Douglas G. Gibson, Esq., at Covington & Burling LLP, in
Washington, D.C. -- dgibson@cov.com -- disclosed that prepetition,
his firm was engaged by Debtors LAD, Los Angeles Dodgers Holding
Company LLC, and LA Holdco LLC, and their non-debtor affiliates
The McCourt-Broderick Limited Partnership and LA Partners LLC in
connection with negotiations with Fox Sports Net West 2, LLC.  LAD
and its affiliates reached agreement on a proposed transaction
whereby Fox Sports would retain exclusive broadcast television
rights for a period of 17 years, and would pay LAD rates in excess
of the rates paid to LAD under a current telecast agreement
between LAD and Fox Sports.  This proposed transaction provided
that a minority interest in a Fox Sports subsidiary owning the
regional sports network currently known as Prime Ticket would be
owned by TMBLP, an indirect parent of the Debtors, through TMBLP's
newly-formed, whollyowned indirect subsidiary, LA Media, LLC.  The
Proposed Fox Transaction was not approved by the Office of the
Commissioner doing business as Major League Baseball.  Subsequent
to the Commissioner's decision not to approve the Proposed Fox
Transaction, which occurred before the Petition Date, Covington
has not performed any services for or on behalf of TMBLP or
Partners, and will not represent or perform services for
any non-debtor affiliates of the Debtors during these Chapter 11
cases.

Mr. Gibson further disclosed that Covington is owed approximately
$192,000 for prepetition services rendered to the Debtors and
their affiliates. In the twelve months prior to the Petition Date,
Covington received payments totaling $254,847 from LAD.  To the
extent that Covington is owed unpaid legal fees and expenses by
the Debtors for prepetition legal services, this does not
constitute an adverse interest to the Debtors or their estates
with respect to the matter on which Covington is to be employed or
present a conflict of interest that would prevent Covington from
representing the Debtors as special counsel, he insists.  He
maintains that Covington is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.

                 About the Los Angeles Dodgers

Los Angeles Dodgers LLC operates the Los Angeles Dodgers, a
professional Major League Baseball club in the Los Angeles
metropolitan area.  Frank McCourt, a Boston real-estate developer
who unsuccessfully bid for the Boston Red Sox, bought the Dodgers
from Rupert Murdoch's Fox Entertainment Group, Inc. in 2004 for
$330 million.  Mr. McCourt also bought the Dodgers Stadium from
Fox for $100 million.

Los Angeles Dodgers LLC filed for bankruptcy protection (Bankr. D.
Del. Lead Case No. 11-12010) on June 27, 2011, after MLB
Commissioner Bud Selig rejected a television deal with News
Corp.'s Fox Sports, leaving Mr. McCourt unable to make payroll for
June 30 and July 1.  Fox Sports has exclusive cable television
rights for Dodgers games until the end of 2013 baseball season.

Chapter 11 filings were also made for LA Real Estate LLC, an
affiliated entity which owns Dodger Stadium, and three other
related holding companies.

The petition estimates assets of up to $500 million and debts of
up to $1 billion.  According to Forbes, the team is worth about
$800 million, making it the third most valuable baseball team
after the New York Yankees and the Boston Red Sox.

Judge Kevin Gross presides over the case.  Lawyers at Young,
Conaway, Stargatt & Taylor and Dewey & LeBoeuf LLP serve as the
Debtors' bankruptcy counsel.  Epiq Bankruptcy Solutions LLC is the
claims and notice agent.

The LA Dodgers is the 12th sports team in North America to have
sought bankruptcy protection, according to The Wall Street
Journal.

The reorganization is being financed with a $150 million unsecured
loan from the Commissioner of Major League Baseball.  The loan
gives the Commissioner few of the controls lenders often demanded
from bankrupt companies.


LOS ANGELES DODGERS: Court OKs Morrison as Committee Counsel
------------------------------------------------------------
The Official Committee of Unsecured Creditors of the Los Angeles
Dodgers sought and obtained permission from the U.S. Bankruptcy
Court for the District of Delaware to retain Morrison & Foerster
LLP as counsel.

Upon retention, the firm, will among other things:

   -- advise the Committee in connection with its powers and
      duties under the Bankruptcy Code, the Bankruptcy Rules and
      the Local Rules;

   -- assist and advise the Committee in its consultation with
      the Debtors relative to the administration of the Chapter 11
      cases; and

   -- attend meetings and negotiate with the representatives of
      the Debtors.

The firm's rates are:


          Personnel                    Rates
          ---------                    -----
          Partners                     $600 to $950
          Counsel                      $395 to $875
          Associates                   $295 to $640
          Paralegals                   $165 to $270

               About the Los Angeles Dodgers

Los Angeles Dodgers LLC operates the Los Angeles Dodgers, a
professional Major League Baseball club in the Los Angeles
metropolitan area.  Frank McCourt, a Boston real-estate developer
who unsuccessfully bid for the Boston Red Sox, bought the Dodgers
from Rupert Murdoch's Fox Entertainment Group, Inc. in 2004 for
$330 million.  Mr. McCourt also bought the Dodgers Stadium from
Fox for $100 million.

Los Angeles Dodgers LLC filed for bankruptcy protection (Bankr. D.
Del. Lead Case No. 11-12010) on June 27, 2011, after MLB
Commissioner Bud Selig rejected a television deal with News
Corp.'s Fox Sports, leaving Mr. McCourt unable to make payroll for
June 30 and July 1.  Fox Sports has exclusive cable television
rights for Dodgers games until the end of 2013 baseball season.

Chapter 11 filings were also made for LA Real Estate LLC, an
affiliated entity which owns Dodger Stadium, and three other
related holding companies.

The petition estimates assets of up to $500 million and debts of
up to $1 billion.  According to Forbes, the team is worth about
$800 million, making it the third most valuable baseball team
after the New York Yankees and the Boston Red Sox.

Judge Kevin Gross presides over the case.  Lawyers at Young,
Conaway, Stargatt & Taylor and Dewey & LeBoeuf LLP serve as the
Debtors' bankruptcy counsel.  Epiq Bankruptcy Solutions LLC is the
claims and notice agent.  Thomas Lauria, Esq., at White & Case,
represents MLB.

The LA Dodgers is the 12th professional sports team in North
America to have sought bankruptcy protection, and the fifth
baseball club to have done so, after the Texas Rangers in 2010;
the Chicago Cubs in 2009; the Baltimore Orioles in 1993; and the
Seattle Pilots in 1970.  The other seven teams were from the
National Hockey League, including the Phoenix Coyotes in 2009.


LOS ANGELES DODGERS: Court OKs Pinckney as Committee Counsel
------------------------------------------------------------
The Official Committee of Unsecured Creditors of Los Angeles
Dodgers LLC and its affiliated Debtors sought and obtained
permission from the U.S. Bankruptcy Court for the District of
Delaware to retain Pinckney, Harris & Weidinger, LLC as its
counsel to advise the Committee with respect to its rights, duties
and powers in the Chapter 11 cases.

The firm's professionals and their compensation rates:

  Professional              Designation      Hourly Rate
  ------------              -----------      -----------
  Donna L. Harris, Esq.     member             $375
  Joanne P. Pinckney, Esq.  member             $375
  Kevin M. Capuzzi, Esq.    associate          $260
  Nicole O'Brien            paralegal          $160
  Caitlin Drueding          paralegal          $160

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

                   About the Los Angeles Dodgers

Los Angeles Dodgers LLC operates the Los Angeles Dodgers, a
professional Major League Baseball club in the Los Angeles
metropolitan area.  Frank McCourt, a Boston real-estate developer
who unsuccessfully bid for the Boston Red Sox, bought the Dodgers
from Rupert Murdoch's Fox Entertainment Group, Inc. in 2004 for
$330 million.  Mr. McCourt also bought the Dodgers Stadium from
Fox for $100 million.

Los Angeles Dodgers LLC filed for bankruptcy protection (Bankr. D.
Del. Lead Case No. 11-12010) on June 27, 2011, after MLB
Commissioner Bud Selig rejected a television deal with News
Corp.'s Fox Sports, leaving Mr. McCourt unable to make payroll for
June 30 and July 1.  Fox Sports has exclusive cable television
rights for Dodgers games until the end of 2013 baseball season.

Chapter 11 filings were also made for LA Real Estate LLC, an
affiliated entity which owns Dodger Stadium, and three other
related holding companies.

The petition estimates assets of up to $500 million and debts of
up to $1 billion.  According to Forbes, the team is worth about
$800 million, making it the third most valuable baseball team
after the New York Yankees and the Boston Red Sox.

Judge Kevin Gross presides over the case.  Lawyers at Young,
Conaway, Stargatt & Taylor and Dewey & LeBoeuf LLP serve as the
Debtors' bankruptcy counsel.  Epiq Bankruptcy Solutions LLC is the
claims and notice agent.  Thomas Lauria, Esq., at White & Case,
represents MLB.

Attorneys at Morrison & Foerster LLP and Pinckney, Harris &
Weidinger, LLC, serve as counsel to the Official Committee of
Unsecured Creditors.

The LA Dodgers is the 12th professional sports team in North
America to have sought bankruptcy protection, and the fifth
baseball club to have done so, after the Texas Rangers in 2010;
the Chicago Cubs in 2009; the Baltimore Orioles in 1993; and the
Seattle Pilots in 1970.  The other seven teams were from the
National Hockey League, including the Phoenix Coyotes in 2009.


LPL HOLDINGS: Moody's Raises Issuer & Debt Ratings to 'Ba2'
-----------------------------------------------------------
Moody's Investors Service upgraded the long-term issuer and senior
debt ratings of LPL Holdings, Inc. (LPL) to Ba2 from Ba3. The
rating outlook for LPL is stable.

RATINGS RATIONALE

Moody's said that LPL has achieved consistent growth in revenues
and operating earnings that has resulted in continuing and
significant cash flow deleveraging since its buyout in 2005.
Moody's notes that revenues and adjusted EBITDA for the six month
period ending June 30, 2011 increased 15% and 20% respectively
over the comparable period in June 2010. In addition, with the
upgrade Moody's recognizes that LPL is positioned to achieve
significant operating leverage with modest increases in revenue
from improved market conditions and from continued growth of its
independent financial advisor network and financial institutions.

LPL is the largest independent retail brokerage firm in the United
States with 12,660 financial advisors while managing $341 billion
in clients' assets as of June 30, 2011. The scale of LPL's
franchise and favorable long-term industry trends have allowed LPL
to produce sufficient and predictable operating earnings relative
to its debt service requirements. The company also enjoys a high
level of recurring revenues from advisory and asset based fees
from product sponsors that help to mitigate volatility associated
with transaction based commission revenues. Moody's also notes
that the company has a flexible cost structure, with broker
commissions representing the largest component of cost. The
company's ability and willingness to reduce costs to deal with the
natural industry cycle was illustrated in fiscal 2009 when
revenues decreased by approximately 12% from fiscal 2008; despite
this revenue decrease, the company was able to maintain adjusted
EBITDA relatively flat over fiscal 2008.

At the same time, substantial, though improving, financial
leverage and a tangible equity deficit remain as primary credit
challenges facing LPL. Other challenges include modest operating
profitability relative to non-independent broker-dealer peers, as
well as a high dependency on annuity and mutual fund commissions -
asset classes that may be threatened by less expensive investment
alternatives (e.g. ETF index funds). Lastly, Moody's noted that
LPL, like all brokers with a fiduciary responsibility, is
vulnerable to regulatory or litigation risk. Although the
company's compliance record and function have been strong, any
problems that expose LPL to material financial or reputational
damage would be negative for the company.

Moody's expects LPL's credit metrics to continue their gradual
improvement. LPL should continue to benefit from the continual
addition of brokers and their increased productivity as they
transition their business from legacy firms, a steady stream of
asset-based revenue from approximately $320 billion of non-cash
client assets, and in the medium to longer-term, rising interest
rates would increase LPL's fee revenue being generated from more
than $20 billion in customer cash assets.

In commenting on the stable outlook, Moody's noted that LPL has
maintained a high level of debt and that the firm is likely to
continue to grow aggressively. This exposes bondholders to the
risk that the firm could choose to take on significant financial
leverage in order to maintain its growth path. Its recent initial
public offering, while providing access to an additional source of
capital, also exposes it to the demands of shareholders --
potentially increasing bondholder risks if it affects the
company's growth strategy or financial policies.

The last rating action on LPL was on May 13, 2010, when the
outlook was changed to positive from stable. The principal
methodology used in rating LPL is the December 2006 Global
Securities Industry Methodology, which can be found at
www.moodys.com in the Rating and Methodologies sub-directory under
the Research and Ratings tab. Other methodologies and factors that
may have been considered in the process of rating this issuer can
also be found in the Ratings Methodologies sub-directory on
Moody's website.

LPL is a leading provider of infrastructure and support services
to independent financial advisors and financial institutions. In
2010, LPL generated $3.1 billion of net revenue and ended the year
with $316 billion in assets under administration.


LYMAN LUMBER: Hires Eriksson Commercial as Real Estate Consultant
-----------------------------------------------------------------
Lyman Holding Company, et al., sought and obtained authority from
the Honorable Dennis D. O'Brien, U.S. Bankruptcy Judge for the
District of Minnesota, to employ Eriksson Commercial Real Estate,
Inc. as their commercial real estate consultant.

The Debtors relate that they require the assistance of a
commercial real estate consultant to assist with the disposition
of certain real property that is not subject to that certain Asset
Purchase Agreement under consideration in their sale motion.

The Debtors require the services of Eriksson with respect to the
sale of certain real property, including the sale of the old
Excelsior Yard; the sale of real estate held by Woodinville
Lumber, Inc.; the marketing for sale of the Mid-America Cedar
facility in Stallings, North Carolina; the marketing for sale of
the rail serve site in Cottage Grove, Minnesota; and the marketing
for sale of the general offices of Lyman Lumber Company at 300
Morse Avenue in Excelsior, Minnesota.

The Debtors have agreed to compensate Eriksson at $250 per hour
plus all out-of-pocket expenses.  The Debtors have paid Eriksson a
$15,000 retainer and the firm has billed $14,712 against the
retainer before the filing of these cases.  It currently holds a
retainer of $287.

Based on the declaration of Steven Eriksson, the Debtors believe
that the firm is a disinterested person within the meaning of
Section 101(14) of the Bankruptcy Code and that the firm neither
holds nor represents an interest adverse to the Debtors' estates.

With respect to an issue raised by the U.S. Trustee regarding a
term in the engagement agreement, Eriksson has modified certain
terms and, together with the Debtors, executed an amendment to the
Professional Services Agreement.  The Debtors believe that the
Amendment has been reviewed and accepted by the U.S. Trustee and
that it satisfies his concern.

                      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.


LYMAN LUMBER: Seeks to Hire Hilco Industrial as Auctioneers
-----------------------------------------------------------
Lyman Holding Company and its debtor affiliates seek to employ
Hilco Industrial, LLC as their professional auctioneers.

The Debtors relate that they require representation of a
liquidator/auctioneer to liquidate certain non-real property
assets owned by Debtors Woodinville Lumber and Woodinville
Construction, LLC that are not subject to that certain Asset
Purchase Agreement at issue in their pending sale motion.

Hilco Industrial is prepared to aggressively market the
Woodinville Entities' non-real property assets to be liquidated
and work to achieve the highest and best price possible for the
Debtors through an online auction process.

As described in an agreement between the parties, Hilco Industrial
would perform certain pre-auction marketing and other tasks, which
would be billed to the Debtors at the firm's cost, with a cap of
$92,500.  Hilco Industrial would also charge a 10% buyer's premium
on all items sold, and that premium would constitute the firm's
fee.

The Debtors propose that Hilco Industrial's final fees and
expenses be authorized in conjunction with the approval of the
employment application, and that upon the close of the online
auction and sale of the non-real property assets, the Debtors will
be authorized to allow Hilco Industrial to retain its fee and that
no further application for fees will be made by the firm.

Based on the declaration of Timothy A. Pfister, the Debtors
believe that Hilco Industrial is a disinterested person within the
meaning of Section 101(14) of the Bankruptcy Code and that the
firm neither holds nor represents an interest adverse to the
Debtors' estates.

                      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.


LYMAN LUMBER: Can Hire Fredrikson & Byron as Counsel
----------------------------------------------------
The Honorable Dennis D. O'Brien has approved the application of
Lyman Holding Company and its debtor affiliates to employ
Fredrikson & Byron, P.A. as their Chapter 11 Counsel.

                      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.


LYMAN LUMBER: Committee Can Retain Fafinski as Counsel
------------------------------------------------------
The Honorable Dennis D. O'Brien has authorized the Official
Committee of Unsecured Creditors of Lyman Holding Company, et al.
to retain Fafinski, Mark & Johnson, P.A. as its counsel, effective
Aug. 11, 2011.

                      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.


MCCLATCHY CO: Royal Bank Discloses 4.07% Equity Stake
-----------------------------------------------------
In an amended Schedule 13G filing with the U.S. Securities and
Exchange Commission, The Royal Bank of Scotland  N.V. and its
affiliates disclosed that as of Sept. 1, 2011, they beneficially
own 2,456,154 shares of common stock of The McClatchy Company
representing 4.07% of the shares outstanding based on 60,402,712
of Ordinary Shares reported to be outstanding.

As previously reported by the TCR on Aug. 31, 2011, The Royal Bank
disclosed that it beneficially owned 3,462,027 shares of common
stock representing 5.73% equity stake.

A full-text copy of the regulatory filing is available at no
charge at http://is.gd/s8kNzV

                     About The McClatchy Company

Sacramento, Calif.-based The McClatchy Company  (NYSE: MNI)
-- http://www.mcclatchy.com/-- is the third largest newspaper
company in the United States, publishing 30 daily newspapers, 43
non-dailies, and direct marketing and direct mail operations.
McClatchy also operates leading local websites in each of its
markets which extend its audience reach.  The websites offer users
comprehensive news and information, advertising, e-commerce and
other services.  Together with its newspapers and direct marketing
products, these interactive operations make McClatchy the leading
local media company in each of its premium high growth markets.
McClatchy-owned newspapers include The Miami Herald, The
Sacramento Bee, the Fort Worth Star-Telegram, The Kansas City
Star, The Charlotte Observer, and The News & Observer (Raleigh).

The Company's balance sheet at June 30, 2011, showed $3.05 billion
in total assets, $2.85 billion in total liabilities, current and
non-current, and $203.47 million in total stockholders' equity.

                           *     *     *

In February 2010, Moody's Investors Service upgraded The McClatchy
Company's Corporate Family Rating to Caa1 from Caa2, Probability
of Default Rating to Caa1 from Caa2, and senior unsecured and
unguaranteed note ratings to Caa2 from Caa3, concluding the review
for upgrade initiated on January 27, 2010.  The upgrades reflect
McClatchy's improved liquidity position and reduced near-term
default risk following completion of the company's refinancing,
and its ability to stabilize EBITDA performance through
significant cost reductions.  The rating outlook is stable.

In the May 12, 2011, edition of the TCR, Standard & Poor's Ratings
Services lowered its corporate credit rating on Sacramento,
Calif.-based The McClatchy Co. to 'B-' from 'B'.  "The downgrade
reflects our expectation that continued declines in advertising
revenues will outweigh the company's cost reduction measures,
resulting in steadily rising debt leverage over the intermediate
term despite some modest debt reduction that will likely occur
over the near term," said Standard & Poor's credit analyst Harold
Diamond.  The 'B-' corporate credit rating on Sacramento, Calif.-
based McClatchy reflects Standard & Poor's expectation that
advertising revenues will decline at a high-single-digit% rate in
2011, and EBITDA will fall at a mid-double-digit pace.

As reported by the Troubled Company Reporter on Feb. 8, 2011,
Fitch Ratings has upgraded the Issuer Default Rating of the
McClatchy Company to 'B-'.  The Rating Outlook is Stable.  The
revenue declines endured by McClatchy in 2010 were materially
lower than Fitch's expectation.  Fitch had modeled declines in the
mid-teens versus actual declines in the mid-single digits.  While
Fitch expected the company to focus on cost containment, the
company's success exceeded Fitch expectations.  Fitch had expected
EBITDA to decline more than 10% versus actual EBITDA growth in the
mid-single digits.  As a result absolute debt and leverage were
better than Fitch expectations.  Fitch estimates 2010 year end
gross unadjusted leverage of approximately 4.7 times.  Fitch
expects the company will be able to meet its pension funding
obligations and satisfy all of its maturities up to and including
its senior unsecured notes due in 2014 ($169 million balance as of
Sept. 30, 2010).  Also, Fitch does not expect McClatchy will have
any issues meeting its credit agreement financial covenants (under
both Fitch's base and stress cases).


MCD NC: Case Summary & 2 Largest Unsecured Creditors
----------------------------------------------------
Debtor: MCD NC, LLC
        2501 NE 134th Street, Suite 300
        Vancouver, WA 98686

Bankruptcy Case No.: 11-06636

Chapter 11 Petition Date: August 30, 2011

Court: United States Bankruptcy Court
       Eastern District of North Carolina (Wilson)

Debtor's Counsel: George M. Oliver, Esq.
                  OLIVER FRIESEN CHEEK, PLLC
                  P.O. Box 1548
                  New Bern, NC 28563
                  Tel: (252) 633-1930
                  Fax: (252) 633-1950
                  E-mail: efile@ofc-law.com

Scheduled Assets: $1,734,617

Scheduled Debts: $743,852

A list of the Company's two largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/nceb11-06636.pdf

The petition was signed by Michael DeFrees, manager/member.

Affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Columbia Rim Construction, Inc.        11-41720   03/07/11
Gateway Medical Center III LLC         11-40100   01/06/11
Salpare Bay LLC                        10-3533    06/07/10


MILBANK 505: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Milbank 505 Sam Houston I, LLC
        660 South Figueroa Street, 24th Floor
        Los Angeles, CA 90017

Bankruptcy Case No.: 11-47740

Affiliates that simultaneously sought Chapter 11 protection:

        Debtor                        Case No.
        ------                        --------
Milbank 505 Sam Houston I, LLC        11-47740
505 Sam Houston II, LLC               11-47742
Milbank 505 Sam Houston III, LLC      11-47743
Milbank 505 Sam Houston IV, LLC       11-47745
Milbank 505 Sam Houston V, LLC        11-47746
Milbank 525 Sam Houston I, LLC        11-47747
525 Sam Houston II, LLC               11-47748
Milbank 525 Sam Houston III, LLC      11-47749
Milbank 525 Sam Houston IV, LLC       11-47750
Milbank 525 Sam Houston V, LLC        11-47751

Chapter 11 Petition Date: September 5, 2011

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

Judge: Sandra R. Klein

Debtor's Counsel: David L. Neale, Esq.
                  LEVENE NEALE BENDER RANKIN & BRILL LLP
                  10250 Constellation Boulevard, Suite 1700
                  Los Angeles, CA 90067
                  Fax: (310) 229-1244
                  E-mail: dln@lnbrb.com

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

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

The petition was signed by M. Aaron Yashouafar, president.

Debtor-affiliates that previously filed separate Chapter 11
petitions:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Encino Corporate Plaza, L.P.          11-14917            04/20/11
Figueroa Tower I, LP                  11-18760            07/14/11
Figueroa Tower II, LP                 11-18761            07/14/11
Figueroa Tower III, LP                11-18762            07/14/11
First National Building I, LLC        10-16334            10/07/10
First National Building II, LLC       10-16335            10/07/10
Roosevelt Lofts, LLC                  09-14214            04/13/09

Milbank 505 Sam Houston I's List of 20 Largest Unsecured
Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
TXU Energy                         --                      $40,408
P.O. Box 650638
Dallas, TX 75265

Direct Energy                      --                      $35,261
75 Remittance Drive
Chicago, IL 60675

Integrys Energy of Texas           --                      $22,584
P.O. Box 10208
Green Bay, WI 54307

Starlight Cleaning Srvc of Hst     --                      $11,972

Humble Elevator Service            --                       $3,120

The Carpet Store                   --                       $3,092

AT&T                               --                       $1,828

Century Fire Protection Systems    --                       $1,655

Firetrol Protection                --                       $1,509

Century                            --                       $1,277

City of Houston - Water            --                       $1,251

Amtech Elevator Services           --                         $960

R.O. Designs Inc.                  --                         $834

Acme Architectural                 --                         $630

Flux Business                      --                         $609

USA Today                          --                         $510

Empire Waste, Ltd.                 --                         $504

Houston Boma                       --                         $421

RTM Media, LLC                     --                         $325

Interactive Controls, Inc.         --                         $217


MONARCH FLIGHT: Files for Chapter 11 in Delaware
------------------------------------------------
Monarch Flight II LLC filed a bare-bones Chapter 11 petition
(Bankr. D. Del. Case No. 11-12795) to prevent the Sept. 7
foreclosure of the Gulfstream GIII private jet the company owns.

Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Monarch Flight is a company owned by Atlanta
businessman William B. Johnson.  The lender, Amegy Bank NA, sued
Johnson and the aircraft owner, Monarch Flight II LLC, on Aug. 30
in U.S. District Court in Houston.  Seeking judgment for $15
million on the loan used in part to purchase the jet, the suit
made allegations of fraud and conversion, contending that Johnson,
who guaranteed the loan, had disposed of the bank's collateral in
violation of the security agreement.

According to the report, in the district court suit, Houston-based
Amegy is seeking a temporary restraining order to prevent Johnson
from disposing of collateral.


MSR RESORT: Committee Authorized to Retain Togut Segal as Counsel
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors of MSR Resort Golf
Course, LLC and its 29 co-debtors has been authorized by the U.S.
Bankruptcy Court for the Southern District of New York to retain
Togut, Segal & Segal LLP as conflicts counsel, nunc pro tunc to
July 18, 2011.

The Debtors' estates will pay Togut Segal according to the firm's
current hourly rates, which are:

          Frank A. Oswald, supervising partner         $810
          Partners                              $800 - $935
          Associates                            $215 - $675
          Counsel                                      $715
          Paralegals, law clerks                $145 - $285

                         About MSR Resort

MSR Hotels & Resorts, formerly known as CNL Hotels & Resorts Inc.,
owns a portfolio of eight luxury hotels with over 5,500 guest
rooms, including the Arizona Biltmore Resort & Spa in Phoenix, the
Ritz-Carlton in Orlando, Fla., and Hawaii's Grand Wailea Resort
Hotel & Spa in Maui.

On Jan. 28, 2011, CNL-AB LLC acquired the equity interests in the
portfolio through a foreclosure proceeding.  CNL-AB LLC is a joint
venture consisting of affiliates of Paulson & Co. Inc., a joint
venture affiliated with Winthrop Realty Trust, and affiliates of
Capital Trust, Inc.

Morgan Stanley's CNL Hotels & Resorts Inc. owned the resorts
before the Jan. 28 foreclosure.

Following the acquisition, five of the resorts with mortgage debt
scheduled to mature on Feb. 1, 2011, were sent to Chapter 11 by
the Paulson and Winthrop joint venture affiliates.  MSR Resort
Golf Course LLC and its affiliates filed for Chapter 11 protection
(Bankr. S.D.N.Y. Lead Case No. 11-10372) in Manhattan on Feb. 1.
The resorts subject to the filings are Grand Wailea Resort and
Spa, Arizona Biltmore Resort and Spa, La Quinta Resort and Club
and PGA West, Doral Golf Resort and Spa, and Claremont Resort and
Spa.

James H.M. Sprayregen, P.C., Esq., Paul M. Basta, Esq., Edward O.
Sassower, Esq., and Chad J. Husnick, Esq., at Kirkland & Ellis,
LLP, serve as the Debtors' bankruptcy counsel.  Houlihan Lokey
Capital, Inc., is the Debtors' financial advisor.  Kurtzman Carson
Consultants LLC is the Debtors' claims agent.

The five resorts had $2.2 billion in assets and $1.9 billion in
debt as of Nov. 30, 2010, according to court filings.  In its
schedules, debtor MSR Resort disclosed $59,399,666 in total assets
and $1,013,213,968 in total liabilities.


MUSCLEPHARM CORP: Posts $7.4-Mil. Second Quarter Net Loss
---------------------------------------------------------
MusclePharm Corporation filed its quarterly report on Form 10-Q,
reporting a net loss of $7.4 million on $3.8 million of sales for
the three months ended June 30, 2011, compared with a net loss of
$3.2 million on $468,109 of sales for the same period of 2010.

The Company reported a net loss of $12.4 million on $7.3 million
of sales for the six months ended June 30, 2011, compared with a
net loss of $5.8 million on $1.7 million of sales for the same
period of 2010.

The Company's balance sheet at June 30, 2011, showed $4.9 million
in total assets, $10.4 in total liabilities, and a stockholders'
deficit of $5.5 million.

Berman & Company, P.A., in Boca Raton, Florida, expressed
substantial doubt about MusclePharm's ability to continue as a
going concern, following the Company's 2010 results.  The
independent auditors noted that the Company had a net loss of
$19.6 million and net cash used in operations of $3.8 million for
the the year ended Dec. 31, 2010; and a working capital deficit
and stockholders' deficit of $2.8 million and $1.7 million,
respectively, at Dec. 31, 2010.

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

Headquartered in Denver, Colorado, MusclePharm Corporation
(OTC BB: MSLP) -- http://www.muslepharm.com/-- is a healthy life-
style company that develops and manufactures a full line of
National Science Foundation approved nutritional supplements that
are 100% free of banned substances.  MusclePharm is sold in over
120 countries and available in over 5,000 U.S. retail outlets,
including GNC and Vitamin Shoppe.  MusclePharm products are also
sold in over 100 online stores, including bodybuilding.com,
Amazon.com and Vitacost.com.


NATTCO LLC: Case Summary & 4 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Nattco, LLC
        dba Annex Storage Depot
        dba Annex Storage and U-Haul
        305 Jefferson Street
        Newnan, GA 30263

Bankruptcy Case No.: 11-12883

Chapter 11 Petition Date: September 1, 2011

Court: United States Bankruptcy Court
       Northern District of Georgia (Newnan)

Debtor's Counsel: Griffin E. Howell, III, Esq.
                  NEWTON & HOWELL P.C.
                  127 1/2 East Solomon Street
                  P.O. Box 551
                  Griffin, GA 30224
                  Tel: (770) 227-0110
                  E-mail: newhow@bellsouth.net

Scheduled Assets: $775,306

Scheduled Debts: $2,193,304

A list of the Company's four largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ganb11-12883.pdf

The petition was signed by Heike Thompson, president.

Affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Heike Thompson                         11-11192   04/03/11


NEWPAGE CORP: Mill Seeks Creditor Protection in Nova Scotia Court
-----------------------------------------------------------------
Selena Ross and David Jackson, Staff Reporters for The Chronicle
Herald, report that the NewPage Port Hawkesbury pulp and paper
mill has filed for bankruptcy protection, Premier Darrell Dexter
announced late Tuesday.

The report says Mr. Dexter's office was served with legal
information from NewPage solicitors confirming the company had
filed, spokeswoman Janet Lynn McNeil said.

The report also relates the company will file in a Nova Scotia
court, trying to secure protection from creditors only for the
troubled Point Tupper mill under Canadian bankruptcy law.  The
Dexter government, the report continues, is stepping up its
efforts to find a buyer for the mill, which is scheduled to close
on Sept. 16.

The report notes NewPage Port Hawkesbury spokeswoman Patricia
Dietz said the announcement does not mean that NewPage Corp., the
parent company in Miamisburg, Ohio, will file under the United
States' Chapter 11 bankruptcy law.

                        About NewPage Corp.

Headquartered in Miamisburg, Ohio, NewPage Corporation --
http://www.NewPageCorp.com/-- is a coated paper manufacturer in
North America, based on production capacity, with $3.1 billion in
net sales for the year ended Dec. 31, 2009.  The company's
product portfolio is the broadest in North America and includes
coated freesheet, coated groundwood, supercalendered, newsprint
and specialty papers.  These papers are used for corporate
collateral, commercial printing, magazines, catalogs, books,
coupons, inserts, newspapers, packaging applications and direct
mail advertising.

NewPage owns paper mills in Kentucky, Maine, Maryland, Michigan,
Minnesota, Wisconsin and Nova Scotia, Canada.  These mills have a
total annual production capacity of approximately 4.4 million tons
of paper, including approximately 3.2 million tons of coated
paper, approximately 1.0 million tons of uncoated paper and
approximately 200,000 tons of specialty paper.

The Company's balance sheet at June 30, 2011, showed $3.36 billion
in total assets, $4.24 billion in total liabilities and a $879
million total deficit.

                        Bankruptcy Warning

As reported by the Troubled Company Reporter on Aug. 22, 2011,
NewPage said in regulatory filings it has retained advisors to
assist it in exploring various restructuring alternatives and is
engaged in discussions with various stakeholders to address its
ongoing capital needs.  The Company said it cannot assure that it
will be able to refinance any of its indebtedness, or that it will
be able to do so on commercially reasonable terms.  If the Company
is unable to refinance its debt or generate sufficient cash flow
to service its obligations, the Company will be required to seek
to restructure its existing debt or to voluntarily seek, or be
forced to seek, protection under the Chapter 11 of the U.S.
Bankruptcy Code and applicable Canadian laws.

Earlier this year, NewPage hired investment bank Lazard Ltd. and
law firm Dewey & LeBoeuf to negotiate with creditors.

NewPage has filed with the U.S. Securities and Exchange Commission
its quarterly report on Form 10-Q reporting a net loss of $132
million on $888 million of net sales for the second quarter ended
June 30, 2011, compared with a net loss of $174 million on $890
million of net sales for the same period a year ago.

                           *     *     *

NewPage has 'Caa1' long term corporate family and probability of
default ratings from Moody's.

As reported by the TCR on Aug. 17, 2011, Standard & Poor's Ratings
Services lowered its corporate credit rating on Miamisburg, Ohio-
based NewPage Corp. to 'CCC' from 'CCC+'.

"The rating actions follow NewPage's recently announced weaker-
than-expected operating results for the quarter ended June 30,
2011, and the decision to hold off on its previously announced
asset sales," said Standard & Poor's credit analyst Tobias
Crabtree.  "Based on our lowered 2011 EBITDA expectations and the
likelihood of no additional material assets sales over the
upcoming months, we believe NewPage could be challenged to meet
its fixed charges, including over $160 million of cash interest
expense, during the remainder of 2011.  In addition, the company
faces significant debt maturities and the maturity of its
revolving credit facility within the next year if it cannot repay
or refinance its $1 billion of second-lien notes by December
2011."


NORTHGATE CROSSING: Sept. 27 Hearing on Plan Disclosures
--------------------------------------------------------
Northgate Crossing LLC delivered to the U.S. Bankruptcy Court for
the Central District of California a Chapter 11 plan of
reorganization and disclosure statement dated Aug. 3, 2011.

The Debtor owns an approximately 88.10 gross acres of land in the
City of Indio, Riverside County, in California.  The City has
granted the Debtor approval for the development of a mixed use and
commercial real estate project known as "Northgate Crossing."

The Plan designates claims and interests into various classes,
namely Class 1 Secured Claims, Class 2 Priority Unsecured Claims,
Class 3 Gen. Unsecured Claims, and Class 4 Interest Holder.

Holders of Class 1 Claims include the Riverside County Treasurer,
with a $192,609 claim, and OneWest Bank, with a $26,500,000 claim.
Riverside County will be paid of its allowed claims in 18 months
as of the Plan Effective Date.  OneWest Bank will be given a first
priority security interest in and to the Equity Contribution
contributed to the Debtor, and the term of the OneWest Bank Note
will be extended to a date that is 10 years following the Plan
Effective Date.  Interest will accrue on the OneWest Bank allowed
claim.

Holders of Class 2 Claims will receive payment on the Plan
Effective Date.

Holders of Class 3 Claims (Mechanic Lien Claims) will accrue
interest and holders will receive pro rata payment of the allowed
claim in 18 months from the Effective Date.  Holders of Class 3
Claims (Gen. Unsecured Claims) will receive a pro rata payment of
their allowed claims in 24 months from the Effective Date with no
interest.

Holders of Class 4 Claims will not receive any distribution from
the Debtor until all claims of higher priority have been paid in
full under the Plan.

The Debtor will make payments due under the Plan to holders of
allowed claims out of among other things, the Equity Contribution
and net sale proceeds from the sale of its real estate project.

A full-text copy of the Aug. 3 Disclosure Statement is available
for free at: http://bankrupt.com/misc/NORTHGATE_DSAug3.PDF

A hearing will be held on Sept. 27, 2011, at 1:30 p.m., before the
Bankruptcy Court to consider and rule on the adequacy of the
information contained in the Disclosure Statement.

Any objections to the Disclosure Statement must be filed with the
Court no later than 14 days before the Disclosure Statement
hearing.

                     About NorthGate Crossing

NorthGate Crossing LLC owns and plans to develop a roughly 88-acre
mixed use tract of real property located in the city of Indio,
Riverside County, California.  The planned project includes
commercial retail spaces, single family residences and a hotel.

NorthGate Crossing LLC, c/o Oresund Capital LLC, filed for Chapter
11 bankruptcy (Bankr. C.D. Calif. Case No. 11-24944) on May 5,
2011.  Judge Scott C. Clarkson presides over the case.  The Debtor
is represented by Richard H. Golubow, Esq., at Winthrop Couchot,
as bankruptcy counsel.  In its Schedules, the Debtor disclosed
assets of $27,502,421 and debts of $29,015,903.


OCEAN PLACE: Court Terminates Debtor's Plan Exclusivity
-------------------------------------------------------
The Hon. Michael B. Kaplan of the U.S. Bankruptcy Court for the
District of New Jersey terminated the exclusive periods of Ocean
Place Development LLC to file a Chapter 11 plan until Oct. 13,
2011, and solicit acceptances of that plan until Dec. 13, 2011.

                   About Ocean Place Development

Ocean Place Development, LLC, owns a beachfront resort property in
Long Branch, New Jersey.  The Ocean Place resort is sited on 17-
acres featuring 1,000 feet of ocean frontage and is improved with
a 254-room hotel that includes 40,000 square feet of meeting
space, three restaurants, a bar/lounge, a full-service spa, and
numerous resort amenities.  It employs between 95 and 340
employees, depending upon the season, through the property
management entity West Paces Hotel Group, LLC.

Ocean Place filed a voluntary Chapter 11 petition (Bankr. D. N.J.
Case No. 11-14295) on Feb. 15, 2011.  Kenneth Rosen, Esq., at
Lowenstein Sandler, serves as the Debtor's bankruptcy counsel.
The Debtor tapped Morgan Melhuish Abrutyn as special counsel;
Morgan Melhuish Abrutyn as special litigation counsel, Stephen M.
Herbstman, M.S., C.P.A., as tax accountant, and Coakley & Williams
Hotel Management Company, to cut costs and make changes to the
Company's facility.  The Debtor estimated its assets and debts at
$50 million to $100 million.

As of the petition date, the Debtor owed $57,245,372 to AFP
pursuant to a Loan Agreement dated April 25, 2006, as amended from
time to time, entered into by and between the Debtor as borrower
and Barclays Capital Real Estate Inc. as lender.

No official unsecured creditors' committee was appointed in the
case.


OLIN CORP: S&P Puts 'BB-' Corp. Credit Rating on Watch Positive
---------------------------------------------------------------
Standard & Poor's Ratings Services placed its ratings on Clayton,
Mo.-based Olin Corp., including the 'BB-' corporate credit rating,
on CreditWatch with positive implications.

"The CreditWatch listing reflects Olin's improved operating
performance following a rebound in demand and strong pricing,"
said Standard & Poor's credit analyst Ket Gondha. The positive
implication on the CreditWatch indicates the potential for an
upgrade, subject to a review of Olin's improved operating
prospects, liquidity, business strategy, and financial policies.

Olin's manufacturing operations are concentrated in two business
segments: chlor-alkali products and ammunition (through its
Winchester unit) that together generate annual revenues of more
than $1.7 billion. Its purchase of the remaining portion of
SunBelt, a chlor-alkali joint venture, from PolyOne Corp. in
February 2011 resulted in additional volumes and profitability.


ORAGENICS INC: Board Adopts Bonus Plan for President and CEO
------------------------------------------------------------
The Board of Directors of Oragenics, Inc., adopted an executive
bonus plan for 2011 for the Company's President and Chief
Executive Officer, Dr. John Bonfiglio.  The executive bonus plan
is an incentive program designed to motivate the Company's CEO to
achieve the Company's financial and other performance objectives
and to reward the CEO if, and when, those objectives are met.  Dr.
Bonfiglio's employment agreement with the Company requires the
adoption of a bonus plan and provides for a target bonus of up to
50% of his annual base salary.  The bonus payable to Dr. Bonfiglio
will be based on the achievement of the following:

   (i) up to 40% of the targeted bonus for Company performance
       objectives related to the Company's revenue and non-GAAP
       operating profit as compared to the Company's operating
       plan between July and December 2011;

  (ii) up to 25% of the targeted bonus for Company performance
       objectives related to raising capital;

(iii) up to 15% of the targeted bonus for individual performance
       objectives concerning the development of long and short
       term strategic plans approved by the Board; and

  (iv) up to 20% of the targeted bonus for meeting specified
       science objectives tied to licensing, validation testing,
       and study enrollment.

Achievement of each factor will be measured independently, and a
minimum threshold for each factor must be met for any credit to be
given to that factor.  The Board set a minimum threshold, target
objective for annual revenue and non-GAAP operating profit.  The
bonuses earned for 2011, if any, could range from zero to 100% of
Dr. Bonfiglio's bonus target and will vary depending on the extent
to which actual performance meets, exceeds or falls short of the
goals approved by the Board.  The actual bonuses paid to Dr.
Bonfiglio, however, will be prorated for the portion of the year
Dr. Bonfiglio provided services to the Company, commencing with
his hire date and, as such, the aggregate amount of bonus payable
under the executive bonus plan to Dr. Bonfiglio for 2011 would be
approximately $85,000 at target performance.

The Company held its Annual meeting of Shareholders on Aug. 29,
2011.  At the Annual Meeting, shareholders elected Dr. John
Bonfiglio, Dr. Jeffrey Hillman, Christine Koski, Robert Koski,
Charles Pope, Dr. Frederick Telling and Dr. Alan Dunton as
Directors, to serve until the Company's next annual meeting of
shareholders or until their respective successors are elected and
qualified or until their earlier resignation, removal from office
or death.  The shareholders also approved an amendment to the
Company's Articles of Incorporation to increase number of
authorized shares of common stock from 15,000,000 to 50,000,000.
The Company's shareholders approved an amendment to the 2002 Stock
Option and Incentive Plan to increase number of shares authorized
for issuance from 625,000 to 1,125,000.

                        About Oragenics Inc.

Tampa, Fla.-based Oragenics, Inc. -- http://www.oragenics.com/--
is a biopharmaceutical company focused primarily on oral health
products and novel antibiotics.  Within oral health, Oragenics is
developing its pharmaceutical product candidate, SMaRT Replacement
Therapy, and also commercializing its oral probiotic product,
ProBiora3.  Within antibiotics, Oragenics is developing a
pharmaceutical candidate, MU1140-S and intends to use its
patented, novel organic chemistry platform to create additional
antibiotics for therapeutic use.

The Company's balance sheet at June 30, 2011, showed $1.3 million
in total assets, $6.3 million in total liabilities, and a
stockholders' deficit of $5.0 million.

As reported in the TCR on April 5, 2011, Kirkland, Russ, Murphy &
Tapp, P.A., in Clearwater, Fla., expressed substantial doubt about
Oragenics' ability to continue as a going concern, following the
Company 2010 results.  The independent auditors noted that the
Company has incurred recurring operating losses, negative
operating cash flows and has an accumulated deficit.


OTERO COUNTY: Taps John Wheeler Assoc. as Counsel
-------------------------------------------------
Otero County Hospital Association Inc. dba Gerald Champion
Regional Medical Center asks the U.S. Bankruptcy Court for the
District of Mexico for permission to employ John D. Wheeler &
Associates PC as counsel to provide representation and advice to
the Debtor.

The firm's professionals and their hourly rates are:

   Partner               $200
   Of Counsel            $200
   Associates            $175
   Paraprofessionals      $75

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

                   About Otero County Hospital

Otero County Hospital Association Inc. filed for Chapter 11
protection (Bankr. D. N.M. Case No. 11-13686) in Albuquerque, New
Mexico, on Aug. 16, 2011, listing as assets of as much as $500
million and debt of as much as $100 million.  The Alamogordo, New
Mexico-based nonprofit developed and operates the Gerald Champion
Regional Medical Center.  GCRMC serves a total population of
approximately 70,000 people.

Otero County Hospital Association also does business as Mountain
View Catering.

Judge Robert H. Jacobvitz presides over the case. Craig H. Averch,
Esq., and Roberto J. Kampfner, Esq., at White & Case, LLP, in Los
Angeles; and John D. Wheeler, Esq., at John D. Wheeler &
Associates, PC, in Alamogordo, New Mexico, serve as bankruptcy
counsel.  Kurtzman Carson Consultants, LLC, serves as claims
agent.


OTERO COUNTY: U.S. Trustee Appoints 5-Member Creditor's Panel
-------------------------------------------------------------
Alice Nystel Page, United States Trustee for Region 20, under 11
U.S.C. Sec. 1102(a) and (b), appointed five unsecured creditors to
serve on the Official Committee of Unsecured Creditors of Otero
County Hospital Association Inc.

The Creditors Committee members are:

      1. EMCARE, Inc.
         ATTN: Ashley Bracken, Jr., Esquire
         6200 S. Syracuse Way, Suite 200
         Greenwood Village, CO 80111
         Tel: (303) 495-1246
         Fax: (303) 495-1288
         E-mail: ashley.bracken@emsc.net

      2. Energy Control, Inc.
         ATTN: Kurt Fetters
         2600 American Road, SE
         Suite 360
         Rio Rancho, NM 87124
         Tel: (505) 890-2888
         Fax: (505) 890-1790
         E-mail: kurt.fetters@energyctrl.com

     3. Universal Hospital Services, Inc.
        ATTN: Steven P. Marietti
        7700 France Avenue S.
        Suite 275
        Edina MN 55435
        Tel: (952) 826-7746
        Fax: (952) 607-3101
        E-mail: spmarietti@uhs.com

     4. Milestone Healthcare, Inc.
        ATTN: Roger T. Jenkins
        2435 N. Central Expy, Suite 1420
         Richardson TX 75080
         Tel: (972) 813-4001
         Fax: (972) 813-1102
         E-mail: rjenkins@milestonehealth.com

      5. Cardinal Health
         ATTN: Phelton Woods
         7000 Cardinal Place
         Dublin OH 43017
         Tel: (614) 553-3289
         Fax: (614) 553-6355

                    About Otero County Hospital

Otero County Hospital Association Inc. filed for Chapter 11
protection (Bankr. D. N.M. Case No. 11-13686) in Albuquerque, New
Mexico, on Aug. 16, 2011, listing as assets of as much as $500
million and debt of as much as $100 million.  The Alamogordo, New
Mexico-based nonprofit developed and operates the Gerald Champion
Regional Medical Center.  GCRMC serves a total population of
approximately 70,000 people.

Otero County Hospital Association also does business as Mountain
View Catering.

Judge Robert H. Jacobvitz presides over the case. Craig H. Averch,
Esq., at White & Case, LLP, and John D. Wheeler, Esq., at John D.
Wheeler & Associates, PC, serve as bankruptcy counsel.  Kurtzman
Carson Consultants, LLC, serves as claims agent.

The petition was signed by William Morgan Hay, chief financial
officer.


PMMB INVESTMENTS: Sansai Japanese Grill in Chapter 11
-----------------------------------------------------
Rick Desloge at St. Louis Business Journal reports that Dan Burns'
SanSai Japanese Grill in St. Louis has filed for Chapter 11
bankruptcy.

According to the report, the local, fast-casual Japanese
restaurant chain operates fazive St. Louis, Missouri-area
locations.  The move to reorganize in bankruptcy came Aug. 15 as
the business faced legal issues with Burns' former partner in
Southern California and as it uncovered an accounting error that
led to an unforeseen tax liability, said Burns and his attorney,
Spencer Desai of the Desai Eggmann Mason law firm.

The report says Mr. Burns, a Chaminade and Washington University
graduate who splits his time between St. Louis and Laguna Beach,
Calif., had a golden touch with previous ventures Godfather's
Pizza and Old Country Buffet.  In the case of Godfather's, Burns
opened his first location in 1978.  By 1983, he had 150
Godfather's locations and sold the business to the parent company
for $36 a share, $150 million in all.  Old Country Buffet, of
which Burns was a major investor, grew to 450 locations before
being sold in a leveraged buyout in 2000 for around $850 million.

Mr. Burns said he is listed as the sole owner of PMMB Investments
LLC, the company listed in the bankruptcy petition that operates
SanSai locally.  Mr. Burns co-founded SanSai about a decade ago
with Yon Suk Lipsky in Southern California.  He brought the SanSai
concept here in 2004, and he purchased SanSai's St. Louis
operations two and a half years ago when he split them off from
the Southern California-based SanSai parent.  The California
SanSai lists 23 locations, according to the company's website, and
is not part of the bankruptcy.

The report says the major secured creditor for PMMB Investments is
Peoples National Bank, which is owed $2.26 million according to
Desai, who said he expects to file additional information in the
bankruptcy in the coming days.

PMMB Investments, LLC, doing business as SanSai Japanese Grill,
filed a Chapter 11 petition (Bankr. E.D. Missouri Case No. 11-
48664) on Aug. 15, 2011.  Spencer P. Desai, Esq., at Desai Eggmann
Mason LLC in St. Louis, Missouri, serves as counsel.  As of Aug.
15, the Company estimated it had assets of no more than $50,000
and liabilities of between $1 million and $10 million.


POPPIES A GOURMET: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Poppies, A Gourmet Farmers Market, Inc.
        1 Market Street
        Brevard, NC 28712

Bankruptcy Case No.: 11-10854

Chapter 11 Petition Date: September 1, 2011

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

Judge: George R. Hodges

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

Scheduled Assets: $295,000

Scheduled Debts: $1,147,421

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ncwb11-10854.pdf

The petition was signed by Randy Baron, president.


PREMIER GOLF: Taps Vance and Associate as Land Planning Firm
------------------------------------------------------------
Premier Golf Properties, LP, asks the Court for authority to
employ Lee Perry Vance, of Vance and Associates as Land Planning
Firm nunc pro tunc to the Petition Date in connection with land
planning events necessary in connection with the Debtor's (1)
visual upgrades and course improvement; (2) mineral extraction
(sand); (3) Wetlands mitigation credits; and (4) infrastructure
and construction of land improvements in Debtor's raw land at
Willow Glen side.

Prior to the Debtor's filing of bankruptcy, Mr. Vance was paid for
services rendered prepetition a sum aggregating $16,728.

The Debtor intends to pay Mr. Vance on an hourly basis, with a
retroactive effect from the May 2, 2011 Petition Date.
Accordingly, Mr. Vance has accrued for the services rendered from
May 2, through May 31, 2011, $3,668, and for services rendered
from June 1 through June 30, 2011, $3,382.

The Debtor notes that Mr. Vance has not been yet compensated for
his services, until approval with retroactive effect to May 2,
2011.

Mr. Vance normal and usual billing rate is $125 per hour.

                    About Royal Hospitality LLC

Royal Hospitality LLC, dba Comfort Suites, has been operating the
Comfort Suites in Lake George, New York since May 2007.  It filed
for Chapter 11 protection (Bankr. N.D.N.Y. Case No. 10-13090) on
Aug. 19, 2010.  The Debtor disclosed $13,432,001 in assets and
$11,154,770 in liabilities as of the Petition Date.  Richard L.
Weisz, Esq., at Hodgson Russ LLP, in Albany, N.Y., represents the
Debtor as counsel.


QUANTUM FUEL: Withdraws $4.4 Million CEC Loan
---------------------------------------------
Quantum Fuel Systems Technologies Worldwide, Inc., submitted a
withdrawal notice to the California Energy Commission pertaining
to the Company's $4.4 million CEC loan, the proceeds of which were
intended to be used by the Company to equip a full, vertically-
integrated solar panel assembly facility in California.  The
Company determined that due to market conditions, the development
of such a solar panel assembly facility is not economical at this
time.

The Company is continuing to evaluate the economics of a modified,
scaled-down assembly facility which would involve sourcing Chinese
produced solar panel sub-systems through the Company's
relationship with Asola, its German-based solar partner, and
Asola's joint venture relationship with a Chinese manufacturer of
solar energy products.  In the scaled version, the California
facility would provide final assembly and testing while leveraging
the pre-established China-based sub-systems.  The Company may re-
apply in the future for CEC or other government supported
renewable energy program funding, but provides no assurance that
such funding will be awarded or made available to the Company.

                        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.


RAGLAN ROAD: Files for Chapter 11 Amid Cordish Suit
---------------------------------------------------
Kevin Collison at the Kansas City Star reports that Raglan Road,
one of the Kansas City Power & Light District's first businesses,
has filed for bankruptcy after three years of operations.

According to the report, the pub and restaurant doing business as
Great Irish Pubs KC disclosed $8.8 million in liabilities and
$2.1 million in assets in its Chapter 11 filing.

Mr. Collison says, over the past few months, Raglan Road's owners
have been embroiled in a lawsuit with the Cordish Co. of
Baltimore, which runs the entertainment district through an entity
called Kansas City Live Block 126 Retail LLC.

The report relates that Cordish had filed a lawsuit in Jackson
County Court seeking $608,000 in back rent and other charges, and
demanded possession of the 10,000 square-foot premises.

Raglan's operator, Mr. Collison says, filed a response that
claimed Cordish had failed to promote Raglan Road while charging
exorbitant marketing funds and drove down the value of the
district through "cheap liquor-based marketing strategies which
promote irresponsible alcohol consumption."

In its list of creditors, the largest amount owed is $5 million to
the Anglo Irish Bank Corp., an Irish firm. Great Irish Pubs
Florida is listed at $3.3 million, and KC Live Block 126 is listed
at $378,629, but that amount is being contested.

Raglan Road occupied a prime location at 14th Street and Grand
Boulevard, and featured Irish music and cuisine, and spent several
million dollars on bar furnishings imported from Ireland.


RANDALL MEDD: Buried in $21.8MM Debt, Files for Chapter 11
----------------------------------------------------------
Randall Medd filed a Chapter 11 petition (Bankr. S.D. Fla. Case
No. 11-34720) in Palm Beach County, Florida.

The South Florida Business Journal, which reported about the
Chapter 11 filing, relates that Mr. Medd is a Delray Beach
businessman who chairs a Baltimore minor league soccer club called
Crystal Palace Baltimore.

In his personal Chapter 11 bankruptcy petition, Mr. Medd declared
$21.8 million in debt and $2.6 million in assets.  Mr. Medd is
also a real estate investor and options trader.  Most of his debts
are related to real estate investments in Arizona and Maryland.
Crystal Palace Baltimore is a professional, minor league U.S.
soccer team founded in 2006.  It was formerly part of the player
development system for the professional Crystal Palace team near
London.

The Baltimore club severed its ties with the English Football
League Championship in 2010 and announced a one-year hiatus.  a
soccer stadium in Baltimore.  According to the Baltimore Business
Journal, the team also planned to build a soccer stadium in
downtown Maryland.


RALPH DEVITA: Trustee Wants Court to Convert Case to Chapter 7
--------------------------------------------------------------
Lona O'connor at Palm Beach Post reports that the court-appointed
trustee of owner Ralph DeVita's Chapter 11 voluntary bankruptcy
recommended that the case be converted to Chapter 7, a liquidation
of all assets.

According to the report, that means that Mr. DeVita can remove his
personal effects, but the building and equipment will have to be
used to pay off his mortgage.  It is unclear how much, if
anything, will be left to pay off the city toward the $660,000 in
fines.

The report says the dispute began in 2007 when DeVita paid
$26,000 to build a chickee hut at the side of his restaurant.
City officials said the pizza restaurant's chickee hut was in
violation of city building codes.  DeVita countered that because
the hut was built by Seminole Indians, it was exempt from building
codes.

Ralph DeVita, owner of Ralph & Rosie's Restaurant and Lounge,
filed for Chapter 11 bankruptcy protection in March 2011.  That
move caused the cancellation of an online auction of the well-
loved restaurant with the signature chickee hut.


ROBB & STUCKY: U.S. Trustee Wants Case Converted to Chapter 7
-------------------------------------------------------------
Chapter11Cases.com reports that the United States Trustee for
Region 21 filed a motion on August 30 seeking the conversion of
the Chapter 11 bankruptcy case of Robb & Stucky Limited LLLP to a
Chapter 7 case.

The Company has sold substantially all of its assets through a
court-approved going out of business sale process.

In early August, Robb & Stucky asked the bankruptcy court to
approve a settlement between the Company, the Official Committee
of Unsecured Creditors appointed in the case, and certain of the
company's lenders.  That motion also sought approval of procedures
for the dismissal of the bankruptcy case and asked the court to
set a deadline (or bar date) for administrative claimants to file
their claims.

According to the report, the U.S. Trustee's motion argues that
Robb & Stucky's bankruptcy estate is administratively insolvent
and that the $480,000 fund to be provided for administrative
claimants under the proposed settlement will be "insufficient to
satisfy all . . . administrative claims" other than fees of
professionals retained in the bankruptcy cases.  Therefore, the
Trustee asserts that "[c]onversion to chapter 7 would also provide
the best opportunity for the fair and equitable distribution of
the assets of the estate" because it would result in "a neutral
party being appointed to redistribute the funds among the
administrative claimants, and ensure that all administrative
creditors are treated equally, as required by the Bankruptcy
Code."  A chapter 7 conversion would also offer lower costs of
administration than the debtor's proposed wind-down procedures,
according to the U.S. Trustee.

                       About Robb & Stucky

Sarasota, Florida-based Robb & Stucky Limited LLLP -- dba Robb &
Stucky; Robb & Stucky Interiors; Fine Design Interiors, a division
of Robb & Stucky; Robb & Stucky Patio; R&S Home of Fine
Decorators; and Home of Fine Design by Robb & Stucky --
operated a chain of 24 retail stores offering "high-end home
furnishings" in five states.

Robb & Stucky filed for Chapter 11 bankruptcy protection (Bankr.
M.D. Fla. Case No. 11-02801) on Feb. 18, 2011.  Paul S. Singerman,
Esq., and Jordi Guso, Esq., at Berger Singerman PA, serve as the
Debtor's bankruptcy counsel.  FTI Consulting, Inc., is the
Debtor's advisor and Kevin Regan is the Debtor's chief
restructuring officer.  Bayshore Partners, LLC, is the Debtor's
investment banker.  AlixPartners, LLP, serves as the Debtor's
communications consultants.  Epiq Bankruptcy Solutions, LLC,
serves as the Debtor's claims and notice agent.  In its schedules,
the Debtor disclosed $77,705,081 in assets and $91,859,125 in
liabilities as of the Chapter 11 filing.

Donald F. Walton, U.S. Trustee for Region 21, appointed the
Official Committee of Unsecured Creditors in the Debtor's case.
The Committee tapped Cooley LLP as its lead counsel; Broad and
Cassel as its local bankruptcy counsel; and BDO USA LLP as its
financial advisor.


ROSEWOOD AT PROVIDENCE: Must Obtain Court Approval for Plan
-----------------------------------------------------------
Susan Stabley, staff writer at the Charlotte Business Journal,
reports that sales at the Rosewood luxury condo complex may soon
bloom again under a new pricing model that discounts units as much
as 30%.

According to the report, the company that developed the project
must gain approval for a Chapter 11 bankruptcy plan that puts
Rosewood's remaining units in the hands of the same local
investors that bought the debt on the EpiCentre complex.

Work on the 9-acre, 134-unit Rosewood development at Providence
and Sharon Amity roads finished in 2007.  Its developer --
Rosewood at Providence LLC -- filed for bankruptcy reorganization
in February 2010.


ROYAL HOSPITALITY: Authorized to Tap BST Valuation as Accountant
----------------------------------------------------------------
Royal Hospitality LLC, doing business as Comfort Suites, has been
authorized by the U.S. Bankruptcy Court for the Northern District
of New York to employ BST Valuation & Litigation Advisors LLC as
accountant to prepare and advise the implementation of cash
management and other services.

                    About Royal Hospitality LLC

Royal Hospitality LLC, dba Comfort Suites, has been operating the
Comfort Suites in Lake George, New York since May 2007.  It filed
for Chapter 11 protection (Bankr. N.D.N.Y. Case No. 10-13090) on
Aug. 19, 2010.  The Debtor disclosed $13,432,001 in assets and
$11,154,770 in liabilities as of the Petition Date.  Richard L.
Weisz, Esq., at Hodgson Russ LLP, in Albany, N.Y., represents the
Debtor as counsel.


SACRAMENTO COUNTY: S&P Lowers Rating on Revenue Bonds to 'BB'
-------------------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term rating on
Sacramento County Housing Authority, Calif.'s (Cottage Estates
Apartments) multifamily housing revenue bonds series 2000B to 'BB'
from 'BB+', based on S&P's view of the project's reliance on
short-term market rate investments.

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

The rating reflects S&P's view of:

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

    Debt service coverage is projected to fall below investment-
    grade levels at bond maturity; and

    Asset/liability parity is projected to fall below 100% in
    2026.

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

    Investments held in 'AAAm'-rated First American Treasury
    Obligations Fund Class D money market fund; and

    The high credit quality of the Fannie Mae pass-thru
    certificate, which S&P considers to be 'AA+' eligible.

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


SEP RIVERPARK: Withdraws Plan Documents As New Mgmt. Takes Over
---------------------------------------------------------------
SEP Riverpark Plaza, LLC, notified the U.S. Bankruptcy Court for
the Western District of Oklahoma that it is withdrawing the
Chapter 11 plan of reorganization and disclosure statement it
filed dated March 3, 2011.

G. Rudy Hiersche, Jr., Esq., of Hiersche Law Firm, counsel to the
Debtor, relates that the Plan documents are withdrawn because on
July 13, 2011, a new management agreement was entered into between
the Debtor and Receivership Services Corporation.

The management, Mr. Hiersche discloses, is in the process of
compiling an assessment of the ongoing ordinary income and
ordinary expenses, together with any extraordinary expenses or
unusual non-reoccuring expenses.  However, this analysis will not
be completed until sometime in September 2011, he says.  "This
information is absolutely necessary to be able to compose a
workable, realistic plan of reorganization," he asserts.

Accordingly, the hearing on the Debtor's Disclosure Statement
which was set for Aug. 2, 2011, before Judge Sarah A. Hall is no
longer necessary and the Debtor seeks that it be stricken.

As reported in The Troubled Company Reporter on March 11, 2011,
the Debtor's original Plan is aimed at immediately placing the
Debtor's property on the market through Price Edwards Company,
actively seeking a purchase contract for the fair market value of
the project, paying all creditors in full with interest, and
allowing the equity security holder to receive any remaining funds
left from the sale proceeds.  The active marketing period will
last until a qualified buyer is found.  If this does not occur
within 24 months from the effective date, or the required monthly
payments to two secured creditors aren't timely made, the Debtor
will be in default of the Plan and all creditors will have their
legal rights under prevailing State law to pursue their individual
claims.  One of the purposes of the Plan is to seek to maximize
the recovery from the Riverpark Plaza apartments which, according
to the Plan, might be best done by affecting a private sale, if
reasonably possible in a timely manner, rather than resorting to a
foreclosure sale.  Under the original Plan, the management company
to be retained was Macco Properties, Inc.  All classes of claims
and interests are impaired under the Plan,
except Class 3 -- tenant security deposit claims characterized as
being entitled to priority.

Oklahoma City, Oklahoma-based SEP Riverpark Plaza, L.L.C., aka
Riverpark Plaza Apartments, filed for Chapter 11 bankruptcy
protection on November 11, 2010 (Bankr. W.D. Okla. Case No.
10-16832).  According to its schedules, the Debtor disclosed
$19,165,623 in total assets and $12,026,685 in total debts.  On
Jan. 13, 2011, Judge Sarah A. Hall authorized the Debtor's
employment of Hiersche Law Firm as its bankruptcy counsel.


SEQUENOM INC: Obtains Cease-and-Desist Order from SEC
-----------------------------------------------------
The U.S. Securities and Exchange Commission, pursuant to Section
21C of the Securities Exchange Act of 1934, as amended, entered a
cease-and-desist Order against Sequenom, Inc., relating to the
Company's public statements made between June 2008 and January
2009 regarding the Company's trisomy 21 test then under
development.  In accordance with the cease-and-desist Order, the
Company has agreed not to commit or to cause any future violations
of Sections 10(b) and 13(a) of the Exchange Act, and Rules 10b-5,
12b-20, 13a-1, and 13a-11 promulgated thereunder, and monetary
penalties were not imposed against the Company.

                           About Sequenom

Sequenom, Inc. (NASDAQ: SQNM) -- http://www.sequenom.com/-- is a
life sciences company committed to improving healthcare through
revolutionary genetic analysis solutions.  Sequenom develops
innovative technology, products and diagnostic tests that target
and serve discovery and clinical research, and molecular
diagnostics markets.  The company was founded in 1994 and is
headquartered in San Diego, California.

Sequenom reported a net loss of $120.85 million on $47.45 million
of total revenue for the year ended Dec. 31, 2010, compared with a
net loss of $71.01 million on $37.86 million of total revenue
during the prior year.

The Company's balance sheet at June 30, 2011, showed $156.87
million in total assets, $30.97 million in total liabilities and
$125.90 million in total stockholders' equity.

Ernst & Young LLP of San Diego, California, in its audit report
attached to the 2010 financial statements, did not include a going
concern qualification for Sequenom.  E&Y, in its report on the
2009 results, expressed substantial doubt against Sequenom's
ability as a going concern, noting that the Company "has incurred
recurring operating losses and does not have sufficient working
capital to fund operations through 2010."


SHANE'S FLIGHT: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Shane's Flight Deck, Ltd.
        t/a Shane's City Limits
        637 Main Street
        Hummelstown, PA 17036

Bankruptcy Case No.: 11-06061

Chapter 11 Petition Date: August 31, 2011

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

Judge: Mary D. France

Debtor's Counsel: 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

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

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

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

The petition was signed by Shane Mrakovich, president.

Affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Shane & Andrea Mrakovich               1-09-00079   01/07/09


SHENGDATECH INC: U.S. Trustee Appoints 3-Member Creditors Panel
---------------------------------------------------------------
Chapter11Cases.com reports that the United States Trustee
appointed a three-member Official Committee of Unsecured Creditors
in the chapter 11 bankruptcy case of ShengdaTech, Inc.

The creditors appointed to serve on the Committee are AG Ofcon,
LLC, The Bank of New York, Mellon (in its role as indenture
trustee for bondholders), and Zazove Associates, LLC.

                         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.


SIONIX CORP: Posts $2.6 Million Net Loss in Q3 Ended June 30
------------------------------------------------------------
Sionix Corporation reported a net loss of $2.6 million on $nil
revenue for the three months ended June 30, 2011, compared with a
net loss of $1.6 million on $nil revenue for the three months
ended June 30, 2010.

The Company reported a net a net loss of $4.5 million on $nil
revenue for the nine months ended June 30, 2011, compared with net
net income of $2.7 million on $1.6 million of revenue for the nine
months ended June 30, 2010.

The Company's balance sheet at June 30, 2011, showed $1.3 million
in total assets, $2.6 million in total liabilities, and a
stockholders' deficit of $1.3 million.

The Company has incurred cumulative losses of $30.1 million
including a net loss for the nine months ended June 30, 2011, of
$4.5 million.  The Company also had negative cash flow from
operations of $1.9 million for the nine months ended June 30,
2011.

These factors raise substantial doubt about the Company's ability
to continue as a going concern.

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

Los Angeles, Calif.-based Sionix Corporation designs, develops,
markets and sells both turnkey and stand-alone water management
and treatment systems intended for use in several industries
including oil & gas mining, agriculture, commercial,
municipalities (both potable and wastewater), industry (both make-
up water and wastewater), energy production and emergency
response.


SOLYNDRA LLC: Solar-Panel Maker in California Seeks Bankruptcy
--------------------------------------------------------------
Fremont, California-based Solyndra LLC and an affiliate sought
Chapter 11 bankruptcy protection (Bankr. D. Del. Lead Case No.
11-12799) on Sept. 6, 2011.

Solyndra LLC is at least the third solar company to seek court
protection from creditors since August.

Solyndra LLC owed secured lenders $783.8 million, including
$527.8 million to the U.S. government pursuant to a federal loan
guarantee, and held assets valued at $859 million as of the
Petition date.  The U.S. Federal Financing Bank, owned by the U.S.
Treasury Department, is the Company's biggest lender.

Founded in 2005, Solyndra is a U.S. manufacturer of solar
photovoltaic solar power systems specifically designed for large
commercial and industrial rooftops and for certain shaded
agriculture applications.  The Company had approximately 968 full
time employees and 211 temporary employees.  Solyndra has sold
more than 500,000 of its panels since 2008 and generated
cumulative sales of over $250 million.

W.G. Stover, Jr., chief financial officer and senior vice
president for the Debtors, said Solyndra failed because an
oversupply of solar panels dramatically reduced solar panel
pricing world-wide.  The oversupply was due, in part, to the
growing capacity of foreign manufacturers that utilized low cost
capital provided by their governments to expand their operations,
he explained.  He added that demand for Solyndra's panels also
fell as European governments reduced incentives for buying solar
energy.  Solyndra's ability to timely collect on its accounts
receivables was negatively impacted as foreign competitors offered
extended payment terms, resulting in Solyndra's customers refusing
to honor their previously agreed payment terms.

In the Chapter 11 cases, the Debtors are pursuing a two-pronged
strategy to effectuate either a sale of their business to a
"turnkey" buyer who may acquire substantially all of Solyndra's
assets or, if the Debtors are unable to identify any such
potential buyers, an orderly liquidation of the Debtors' assets
for the benefit of their creditors.

To that end, a proposed DIP Financing provides for a four-week
exploratory period during which time the Debtors will both
determine whether a robust sale process is likely to identify a
turnkey buyer and also explore all available restructuring
opportunities.  The Debtors intend to pursue all potential turnkey
buyers, specifically interested parties in both the United States
and overseas who may have a particular interest in acquiring the
Debtors' business.

DIP financing of up to $4 million, with $2 million to be funded
upon interim approval of the loan, will be provided by an entity
formed by Argonaut Ventures I, L.L.C., and Madrone Partners, L.P.
The loan will have interest of 15% per annum and will mature in
180 days following the Petition Date.  The loan will be secured by
first priority priming liens against all assets of the Debtors.

In February, Solyndra and its lenders reorganized the Company's
debts, putting the U.S. loan behind $69.3 million owed to other
lenders, including an affiliate of Solyndra's biggest shareholder,
Argonaut Ventures.  The February restructuring had provided an
infusion of $75 million to fund operations.

In recent weeks, the U.S. Energy Department, which provided the
loan guarantee, negotiated with Solyndra investors for bridge
financing to give the Company time to find a new source of
capital.  Solyndra was told on Aug. 30 there was no bridge
financing.

On Aug. 31, closely held Solyndra suspended operations and
terminated 1,100 employees.  About 113 employees remain to assist
the debtors with their restructuring efforts.

The Debtors said they have borrowed $527.8 million from the U.S.
Federal Financing Bank using the $535 million Energy Department
loan guarantee.  The loan was used to fund the construction of a
second fabrication facility, which opened in January.

According to Bloomberg News, Republican lawmakers in the U.S.
House of Representatives have criticized the loan guarantee,
questioning whether Solyndra deserved the help.

President Barack Obama, who visited the Company's plant in 2010,
and Democratic lawmakers said the U.S. must keep supporting
renewable energy even amid Solyndra's failure, according to
Bloomberg News.

Argonaut Ventures holds almost 39% of Solyndra's parent, 360 Solar
Degree Holdings Inc.  Madrone Partners holds 13% of the equity;
USVP Venture Partners holds about 9%, and Rockport Capital
Partners owns about 7%.

The Company has tapped Pachulski Stang Ziehl & Jones LLP as legal
adviser.

Judge Mary Walrath will convene a hearing on the first day motions
on Sept. 7, 2011 11:30 a.m. at US Bankruptcy Court, 824 Market
St., 5th Fl., Courtroom #4, in Wilmington, Delaware.

A class action suit by Peter M. Kohlstadt was filed against
Solyndra LLC and its parent in bankruptcy court (Adv. Proc. No.
11-53156) on the Petition Date.


SOLYNDRA LLC: Case Summary & 35 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Solyndra LLC
        fka Solyndra Fab 2, LLC
        47488 Kato Road
        Fremont, CA 94538

Bankruptcy Case No.: 11-12799

Type of Business: The Debtor designs and manufactures photovoltaic
                  systems, comprised of panels and mounts, for the
                  commercial rooftop market.

Chapter 11 Petition Date: September 6, 2011

Court: U.S. Bankruptcy Court
       District of Delaware (Delaware)

Judge: Mary F. Walrath

Debtor's Counsel: Bruce Grohsgal, Esq.
                  PACHULSKI, STANG, ZIEHL, YOUNG, JONES
                  919 N. Market Street
                  16th Floor
                  Wilmington, DE 19801
                  Tel : (302) 778-6403
                  Fax : (3020 652-4400
                  E-mail: bgrohsgal@pszyj.com

Estimated Assets: $500 million to $1 billion

Estimated Debts:  $500 million to $1 billion

The petition was signed by W.G. Stover, Jr., chief financial
officer and senior vice president.

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                            Case No.   Petition Date
        ------                            --------   ------------
360 Degree Solar Holdings, Inc.           11-_____     9/06/2011

Debtor's List of 35 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Schotit North America, Inc.        Trade              $7,688,805
555 Taxter Road
Elmsford, NY 10523

MGS Mfg. Group                     Trade              $7,512,849
W188 N 11707 Maple Road
Germantown, WI 53022

Howard Hughes Medical              Lender under       $4,824,525
Institute                          the Tranche E
4000 Jones Bridge Road             Credit Facility
Chevy Chase, MD 20815

Beltest Shipping Company           Lender under       $4,384,505
Ltd                                the Tranche E
PO Box 51161, GR-145               Credit Facility
10 Kifissia, Greece

Masdar Clean Tech Fund, LP         Lender under       $4,172,742
Eleven Madison Avenue              the Tranche E
16th Floor                         Credit Facility
New York, NY 10010

OZ Offshore Capital Lenders        Lender under       $3,705,147
LLC                                the Tranche E
9 West, 57th Street,               Credit Facility
39th Floor
New York, NY 10019

US Venture Partners X, LP          Lender under       $3,540,488
2735 Sand Hill Road                the Tranche E
Menlo Park, CA 94025               Credit Facility

Virgin Green Fund I, LP            Lender under       $3,288,379
27 South Park Street, Suite 200    the Tranche E
San Francisco, CA 94107            Credit Facility

AMP Private Equity Fund 1A         Lender under       $2,722,592
Level 24, AMP Sydney               the Tranche E
Cove Building, 33 Alfred Street    Credit Facility
Sydney NSW, 2000
Sydney, NSW Australia

Certified Thermoplastics Co.,      Trade              $2,428,363
Inc.
26381 Ferry Court
Santa Clarita, CA 91350

Cravath, Swaine & Moore LLP        Legal Services     $2,067,996
Worldwide Plaza
825 Eighth Avenue
New York, NY 10019

ME2 Manufacturing & Engineering    Trade              $2,064,801
615 Dado St.
San Jose, CA 95131

Lintelle Engineering, Inc.         Trade              $1,928,814
380 El Pueblo Drive
#105
Scotts Valley, CA 95066

PG&E                               Utilities          $1,857,571
885 Embarcadero Dr.
Att: Cassaundra Gardner
West Sacramento, CA 95605

Amcor Pharmeceutical Packing       Trade              $1,803,280
USA, Inc.
625 Sharp Street
MilIville, NJ 8332

US Venture Partners VII, LP        Lender under       $1,636,882
2735 Sand Hill Road                the Tranche E
Menlo Park, CA 94025               Credit Facility

Menlo Logistics, Inc.              Trade              $1,618,234
1717 N. W. 21st Avenue
Oregon, CA 97208

KC-Solar LLC                       Lender under       $1,611,056
201 South College Street           the Tranche E
Suite 1440                         Credit Facility
Charlotte, NC 28244

Keyword Company Limited            Lender under       $1,608,175
Akara Building                     the Tranche E
24 De Castro Street                Credit Facility
Wickhams Clay I
Road Town, Tortola
British Virgin Islands

West Valley Staffing Group         Trade              $1,489,492
390 Potero Ave
Sunnyvale, CA 94085

Giasole Partners LLC               Lender under       $1,384,692
4124 South Rockford                the Tranche E
Suite 201, Tulsa                   Credit Facility
Tulsa, OK 74105

Connor Manufacturing Services      Trade              $1,379,921
22867 NE Townsend Way
Fairview, OR 97024

Dow Corning                        Trade              $1,354,688
2200 W. Salzburg Road
PO Box 994
Midland, MI 48686

Advanced Nano Products             Trade              $1,350,066
244 Buyong Industrial Complex
Kumho-RI Buyong-Myeon
Buyong-Myeon, Chingwon-Kun
Chungcheongbuk-Do
363-942Korea

Legend Trading S.A.                Lender under       $1,317,708
lassonos 3, 18537                  the Tranche E
Athens, Greece

VON ARDENNE ANLAGENTECHNIK          Trade (Disputed)  $1,273,635
GMBH
Am Hanhweg 16A
Dresden, 1328 Germany

US Venture Partners IX, LP          Lender under      $1,217,918
2735 Sand Hill Road                 the Tranche E
Menlo Park, CA 94025                Credit Facility

Plastikon Industries, Inc.          Trade             $1,191,135
688 Sandoval Way
Hayward, CA 94544

Redpoint Ventures II, LP            Lender under      $1,071,353
3000 Sand Hill Road 2-290           the Tranche E
Menlo Park, CA 94025                Credit Facility

ATS Automation Tooling              Trade             $1,042,450
System, Inc.
250 Royal Park Road
Cambridge, Ontario N31-1 4R6
Canada

XYRATECH International Inc.         Trade               $985,500
46831 Lakeview Blvd.
Fremont, CA 94538

Maple Ave.                          Lender under        $964,906
3819 Maple Avenue                   the Tranche E
Dallas, TX 75219                    Credit Facility

CMEA Ventures VII LP                Lender under        $631,233
One Embarcadero Center              the Tranche E
Suite 3250                          Credit Facility
San Francisco, CA 94111

Cheung Who International Company    Trade               $606,419
Limited
Prai Penang Malaysia 13600

OZ Domestic Partners II, LP         Lender under        $574,691
9 West 57th Street                  the Tranche E
39th Floor                          Credit Facility
New York, NY 10019


STAFF USA: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Staff USA, Inc.
        226 Loch Lomond Way
        Danville, CA 94526

Bankruptcy Case No.: 11-49512

Chapter 11 Petition Date: September 1, 2011

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

Judge: Roger L. Efremsky

Debtor's Counsel: W. Austin Cooper, Esq.
                  LAW OFFICES W. AUSTIN COOPER
                  2525 Natomas Park Dr. #320
                  Sacramento, CA 95833
                  Tel: (916)927-2525
                  E-mail: austincooperlaw@yahoo.com

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

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/canb11-49512.pdf

The petition was signed by Dr. Gloria Freeman, president.

Affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Gloria Freeman                         10-23577   02/16/10


STILLWATER INVESTMENT: Files for Chapter 11 Bankruptcy Protection
-----------------------------------------------------------------
Eddie Fitzgerald at Sun Journal reports that Stillwater Investment
Group LLC in New Bern, New Jersey, filed in Wilson for Chapter 11
bankruptcy.

According to the report, Andy Bayliss, a majority owner of
Stillwater Investment Group, and the owner and CEO of Tab Premium
Built Homes, said the Chapter 11 was a restructuring and would not
slow or stop the marketing of Sillwater Harbour, a single-family
home community on Brice's Creek of Marion Drive.

The report says Tab Premium Built Homes is the preferred builder
at Stillwater Harbour off of Marion Drive in New Bern but has no
ownership interest in the property, according to Mr. Bayliss.

The report notes The Chapter 11 filing will not impact Tab, its
customers or subcontractors, he said in a prepared statement.
Bayliss issued his statements through Talk Inc., a public
relations company in Wilimington.

The lender in the Stillwater Harbour venture was BB&T.


SUNNYVALE BUSINESS: Wants Kalinowski & Associates as Appraiser
--------------------------------------------------------------
Sunnyvale Business Square LLC asks the U.S. Bankruptcy Court for
the District of Arizona for authority to employ Richard J.
Kalinowski, Jr., MAI of the firm Kalinowski & Associates, Inc. as
appraiser of the shopping center known as Lakeview Village
Shopping Center, the Debtor's primary asset.

The Debtor's application did not disclose the amounts its estate
will pay Mr. Kalinowski.

However, the Debtor asserts that Mr. Kalinowski does not hold or
represent any material adverse interest to the the Debtor, the
U.S. Trustee or the estate with respect to the professional
services which are to be rendered to and on behalf of the Debtor,
and is therefore "disinterested" within the meaning of Section
101(14) of the Bankruptcy Code.

                  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.


SUNNYVALE BUSINESS: Authorized to Tap Altfeld as Counsel
--------------------------------------------------------
Sunnyvale Business Square LLC has been authorized by the
Bankruptcy Court to employ John F. Battaile, Esq., and Altfeld &
Battaile P.C., as counsel.

                  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.


SUNNYVALE BUSINESS: Gets First Dartmouth as Restructuring Advisor
-----------------------------------------------------------------
Sunnyvale Business Square, LLC, has been authorized by the Court
to employ First Dartmouth Advisors LLC as Restructuring Advisor.

First Dartmouth began providing services to the Debtor pre-
bankruptcy.  The Debtor paid First Dartmouth $10,000 as a
retainer.  The Debtor deposited an additional $10,000 in the trust
account of its counsel, Altfeld & Battaile, P.C.

                  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.


SWEET HOSPITALITY: Comfort Suites Hotel Owner in Chapter 11
-----------------------------------------------------------
The Tampa Bay Business Journal reports that Sweet Hospitality LLC,
the Fort Lauderdale hotel group that owns the Comfort Suites hotel
at 1941 Edgewater Drive in Clearwater, Florida, has filed for
Chapter 11 bankruptcy protection.

Based in Fort Lauderdale, Florida, Sweet Hospitality, LLC, filed
for Chapter 11 bankruptcy protection on Aug. 7, 2011 (Bankr. S.D.
Fla. Case No.11-32124).  Judge John K Olson presides over the
case.  David A. Ray, Esq., at Hough Law Group, P.A., represents
the Debtor.  The Debtor listed assets of $288,200 and debts of
$4,579,482.


SYNTAX-BRILLIAN: SEC Sues Five Former Executives and Board Members
------------------------------------------------------------------
Patrick O'Grady, reporter at the Phoenix Business Journal, the
U.S. Securities and Exchange Commission filed a lawsuit against
five former executives and board members of the Syntax-Brillian
Corp., alleging them of fraud in overstating the company's
financial results.

According to the report, the lawsuit was filed Wednesday, more
than three years after the then Tempe-based high-definition
television manufacturer filed for Chapter 11 bankruptcy
protection.

The report says, among those named in the lawsuit were James Li,
the company's president, chief operating officer and CEO; Thomas
Chow, its chief procurement officer; and Wayne Pratt, the
company's chief financial officer.  Also named were Christopher
Liu and Roger Kao, board members and executives for Taiwan Kolin
Co. Ltd., the primary manufacturer for Syntax-Brillian.

The report relates that the lawsuit alleges that the five
conspired to overstate Syntax's financial results to report it was
selling more televisions than it was, when many of the sales never
occurred.  The lawsuit alleges the scheme was orchestrated by Li
and Chow, and that from June 2006 to April 2008, the company was
vastly overestimating the number of televisions it had sold.

The report adds the lawsuit also alleges that Li and Chow used
fake shipping and sales documents that listed the buyer as the
South China House of Technology Consultants Co. Ltd.

Liu and Kao added in the scheme, according to the lawsuit, helped
with the plan, and in return Li and Chow were funneling millions
of dollars to Taiwan Kolin.  Pratt was named in the lawsuit for
backdating documents to go along with what the lawsuit alleges
were false sales in 2006.

                      About Syntax-Brillian

Based in Tempe, Arizona, Syntax-Brillian Corporation (Nasdaq:BRLC)
-- www.syntaxbrillian.com -- manufactured and marketed LCD HDTVs,
digital cameras, and consumer electronics products including
Olevia(TM) brand high-definition widescreen LCD televisions and
Vivitar brand digital still and video cameras.  Syntax-Brillian
was the sole shareholder of California-based Vivitar Corporation.

The Company and two of its affiliates -- Syntax-Brillian SPE,
Inc., and Syntax Groups Corp. -- filed for Chapter 11 protection
on July 8, 2008 (Bankr. D. Del. Lead Case No.08-11407.  Lawyers at
Greenberg Traurig LLP represented the Debtors as counsel.  Five
members composed the official committee of unsecured creditors.
Pepper Hamilton, LLP, represented the Committee as counsel.  Epiq
Bankruptcy Solutions, LLC, served as the Debtors' balloting,
notice, and claims agent.  When the Debtors filed for protection
against their creditors, they disclosed total assets of
$175,714,000 and total debts of $259,389,000.

The Bankruptcy Court confirmed the Debtors' Joint Chapter 11
Liquidation Plan in an order dated July 6, 2009.  Under the Plan,
general unsecured claims were to received pro rata distributions
from a liquidating trust after payment of the trust's expenses and
a "liquidating trust funding reimbursement."  Holders of allowed
prepetition credit facility claims were to receive their pro rata
distributions from a lender trust, after payment in full of
allowed DIP facility claims.  A full-text copy of the Debtors' 2nd
amended Chapter 11 liquidating plan is available at:

   http://bankrupt.com/misc/syntax-brillian2ndamendedplan.pdf

Counsel to SB Liquidation Trust are:

         David M. Fournier, Esq.
         Evelyn J. Meltzer, Esq.
         PEPPER HAMILTON LLP
         Hercules Plaza, Suite 5100
         1313 Market Street, P.O. Box 1709
         Wilmington, DE 19899-1709
         Tel: 302-777-6565
         Fax: 302-421-8390
         E-mail: fournierd@pepperlaw.com
                 meltzere@pepperlaw.com

Special counsel to SB Liquidation Trust are:

         Allan B. Diamond, Esq.
         Andrea L. Kim, Esq.
         Eric D. Madden, Esq.
         Michael J. Yoder, Esq.
         DIAMOND McCARTHY LLP
         Two Houston Center
         909 Fannin Street, 15th Floor
         Houston, TX 77010
         Tel: (713) 333-5104
         E-mail: adiamond@diamondmccarthy.com
                 akim@diamondmccarthy.com
                 emadden@diamondmccarthy.com
                 myoder@diamondmccarthy.com


TCI LUNA: Case Summary & 11 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: TCI Luna Ventures, LLC
        2010 Valley View Lane, Suite 250
        Dallas, TX 75234

Bankruptcy Case No.: 11-35630

Chapter 11 Petition Date: September 2, 2011

Court: U.S. Bankruptcy Court
       Northern District of Texas (Dallas)

Judge: Barbara J. Houser

Debtor's Counsel: Eric A. Liepins, Esq.
                  ERIC A. LIEPINS, P.C.
                  12770 Coit Road, Suite 1100
                  Dallas, TX 75251
                  Tel: (972) 991-5591
                  E-mail: eric@ealpc.com

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

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

The petition was signed by Craig Landress, vice president.

Debtor's List of 11 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Lungaro & Clarke, PC               --                      $28,599
7501 N. Texas Capital Highway
Austin, TX 78731

Lungaro & Clarke, PC               --                      $15,774
7501 N. Texas Capital Highway
Austin, TX 78731

BGO Architects, Inc.               --                       $7,500
P.O. Box 191205
Dallas, TX 75219

BGO Architects, inc.               --                       $7,500

Brockette Davis Drake, Inc.        --                       $4,750

Land Design Partners, Inc.         --                       $3,439

Winkleman & Assoc.                 --                       $2,000

Lungaro & Clarke, PC               --                       $1,311

Greystone Servicing Corp           --                       $1,200

Offices of Bennett Weston & Lajone --                         $834
PC

Offices of Bennett Weston & Lajone --                         $209
PC


TOP NOTCH: Case Summary & 5 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: Top Notch Car Washes, Inc.
        fdba Cawmil, Inc.
        512 N. Belair Road
        Evans, GA 30809

Bankruptcy Case No.: 11-11731

Chapter 11 Petition Date: September 1, 2011

Court: United States Bankruptcy Court
       Southern District of Georgia (Augusta)

Judge: Susan D. Barrett

Debtor's Counsel: Scott J. Klosinski, Esq.
                  KLOSINSKI OVERSTREET, LLP
                  #7 George C. Wilson Court
                  Augusta, GA 30909
                  Tel: (706) 863-2255
                  E-mail: sjk@klosinski.com

Scheduled Assets: $4,508,580

Scheduled Debts: $3,762,453

A list of the Company's five largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/gasb11-11731.pdf

The petition was signed by Douglas M. Millar, III, CEO.


TP INC: Ch. 11 Trustee Seeks to Tap Crescent Communities as Broker
------------------------------------------------------------------
Algernon L. Butler, III, appointed trustee of TP Inc. seeks
permission from the Hon. Stephani W. Humrickhouse of the U.S.
Bankruptcy Court for the Eastern District of North Carolina to
employ Crescent Communities Realty, LLC and H. Craig Martin as a
real estate agent/broker in the Debtor's Chapter 11 case.

Crescent Communities will assist the Chapter 11 Trustee in
locating a buyer and selling certain property, which includes
three tracts of land located in Mecklenburg County, North
Carolina:

   13608 Sage Thrasher Lane
   Lot 173, Block/Section 2, The Sanctuary

   13840 Girl Scout Road
   Lot 162, Block/Section 3, The Sanctuary

   13702 Sage Thrasher Lane
   Lot 172, Block/Section 2, The Sanctuary

The Chapter 11 Trustee proposes to pay the Agent by paying a
commission of 5% of the total sales price of the Property, with
the compensation and any reimbursement to be paid to the Agent to
be subject to further application at the time as the Property is
proposed to be sold.

The Chapter 11 Trustee also asks the Court to permit Crescent
Communities to engage in a dual-agency agreement with the Chapter
11 Trustee whereby a realtor employed by the firm other than Mr.
Martin would be permitted to serve as a real estate agent for
prospective purchasers of the Property.

H. Craig Martin, agent at Crescent Communities Realty, LLC,
insists that his firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code.

The Chapter 11 Trustee withdrew his application to employ Crescent
Communities Realty.

                         About TP, Inc.

Boone, North Carolina-based TP, Inc., is in the business of
property development and currently owns a various tracts of real
estate in and around North Topsail, Topsail Beach, and Surf City,
North Carolina.  The Company filed for Chapter 11 protection on
March 1, 2010 (Bankr. E.D. N.C. Case No. 10-01594).  David J.
Haidt, Esq., at Ayers, Haidt & Trabucco, P.A., represented
the Debtor.  The Debtor tapped Trawick H. Stubbs, Jr., and Stubbs
& Perdue, as counsel.  In its schedules, the Debtor disclosed
$13,156,424 in assets and $4,129,049 in liabilities.

Algernon L. Butler, III, is the duly-appointed Chapter 11 trustee
in the case of TP Inc., and is represented by Butler & Butler,
LLP, as counsel.


TRIKEENAN TILEWORKS: Hornell IDA Set to Start Operations
--------------------------------------------------------
Andrew Poole at the Evening Tribune reports that, barring an
appeal from Trikeenan Tileworks, the Hornell IDA is ready to begin
working with Texas-based tile and ceramics company Elgin Butler.

Trikeenan had until Aug. 30, 2010, to file an appeal in bankruptcy
court, which has already ruled in Elgin Butler's favor after both
companies submitted plans for the Hornell location.

Assuming Trikeenan doesn't file an appeal, the IDA said it is
preparing to work with Elgin Butler, said Executive Director Jim
Griffin.  The IDA is also likely to hold an emergency meeting to
quickly hammer out the details of bringing in the new ceramics
company as quickly as possible.

The report says Treasurer Shawn Hogan said while IDA officials
weren't rooting for Butler or Trikeenan in bankruptcy court, the
change will be beneficial for Hornell and the surrounding area.

IDA officials are meeting with the Texas company Wednesday, and
will need an application from Butler for financial assistance.
Changes in utilities and people will also be required, added
Griffin, notes the report.

The report says the Company is already buying equipment for its
operations in Hornell.  Griffin said he was hoping manufacturing
previously completed at a now fire-ravaged plant in California
will be moved to Trikeenan's previous location.

                     About Trikeenan Tileworks

Trikeenan Tileworks -- http://www.trikeenan.com/-- makes and
sells tiles.  Trikeenan Tileworks, Inc., Trikeenan Tileworks, Inc.
of New York, and Trikeenan Holdings, Inc., filed for Chapter 11
bankruptcy (Bankr. D. N.H. Lead Case No. 10-13725) on Aug. 30,
2010, estimating $500,000 to $1 million in assets, and $1 million
to $10 million in debts.  Jennifer Rood, Esq., at Bernstein Shur,
in Manchester, New Hampshire, serves as the Debtors' counsel.


TV LLC: Fights Multimillion-Dollar Project With El Monte
--------------------------------------------------------
Daniel Tedford, staff writer at Pasadena Star-News, reports that
TV LLC and the city of El Monte, California, are still facing off
in court regarding a multimillion-dollar project, battling over
the developer's bankruptcy filing as well as a lawsuit it has
filed against the city.

According to the report, while things are far from resolved with
TV LLC, the city is trying to put the finishing touches on a
development agreement with a new group intent on building the
project, now called El Monte Gateway.

The report says the city recently signed an exclusive negotiating
agreement with developers Related Companies and Primestor
Development to build Gateway, formerly known as El Monte Transit
Village.  Developer negotiations for such a large project are
complicated, and the development won't come without significant
public investment, said Mayor Andre Quintero, who supports the
project.

City officials said they hope to finalize a development agreement
by the end of the year.

The report notes the El Monte Gateway project is centered around a
new $45 million MTA bus station that will double the size of the
former regional station on Santa Anita Avenue and Ramona
Boulevard.

The report relates that, after being dropped from the project for
defaulting on its development agreement with the city, according
to city officials, TV LLC is now suing the city for $18 million it
says it lost through investments in the project.

The company also filed for bankruptcy and Cross Ocean Holdings
became its majority shareholder, taking over the bankruptcy filing
and the lawsuit.

The report says the legal process has been slow for the two sides.
The federal bankruptcy court appointed a Chapter 11 bankruptcy
trustee, but the appointee didn't show up to a recent meeting.
That led the federal bankruptcy judge to order the appointee to
attend a meeting on Sept. 9 with TV, LLC and El Monte and other
creditors. The judge also granted El Monte the right to file a
counter lawsuit against TV, LLC, according to court documents.

The report says El Monte attorneys are now waiting for the court-
appointed trustee to make a decision.  They said the trustee could
decide to recommend several things to the court, including
dismissing the bankruptcy case or liquidating TV, LLC.

El Monte would prefer liquidation to help regain money the city
lost on the project, which could range from $500,000 to $4
million, city officials said.

The report notes a dismissal would not allow the city to regain
any money from TV, LLC, but would end bankruptcy proceedings and
allow the parties to settle the respective lawsuits in court.  The
appointee also has the choice of intervening in TV, LLC's $18
million lawsuit against El Monte.

Based in El Monte, California, TV LLC filed for Chapter 11
bankruptcy protection on Jan. 21, 2011 (Bankr. C.D. Calif. Case
No. 11-14156).  Judge Sheri Bluebond presides over the case.
Percy Duran, Esq., at Law Firm of Percy Duran, represents the
Debtor.  The Debtor listed assets of $5,200,000 and debts of
$14,500,000.


URBAN WEST: Has Plan Filing Exclusivity Until Oct. 7
----------------------------------------------------
U.S. Bankruptcy Court for the Northern District of California
extended the request of Urban West Rincon Developers II, LLC, to
file a plan and obtain acceptances, through and including Oct. 7,
2011, and Dec. 6, 2011, respectively.

According to the Troubled Company Reporter on Aug. 19, 2011, the
Debtor stated that failure to extend these periods would cause
the Debtor to unnecessarily expend fees to file a plan and
disclosure statement when their intention is to fulfill its
compromise obligations and dismiss its Chapter 11 cases.

The Debtor's case is not large in terms of numbers of creditors,
involving fewer than 50 creditors each who are owed some $1
million.  However, a large amount of money is at stake in terms of
the secured debt ($38 million) and the cases' legal issues are
extremely complicated.  The Debtor said its case has proven to be
complex in that there are various partnership interests involved.

                 About Urban West Rincon Developers

San Francisco, California-based Urban West Rincon Developers II,
LLC, filed for Chapter 11 bankruptcy protection (Bankr. N.D.
Calif. Case No. 11-30924) on March 9, 2011.  Heinz Binder, Esq.,
and Roya Shakoori, Esq., at the Law Offices of Binder and Malter,
serves as the Debtor's bankruptcy counsel.


US POSTAL SERVICE: Couldn't Make $5.5-Bil. Payment Due This Month
-----------------------------------------------------------------
Steven Greenhouse at OCALA.com reports that the United States
Postal Service is so low on cash that it will not be able to make
a $5.5 billion payment due this month and may have to shut down
entirely this winter unless Congress takes emergency action to
stabilize its finances.

"Our situation is extremely serious," the report quotes the
postmaster general, Patrick R. Donahoe, as saying.  "If Congress
doesn't act, we will default."

According to the report, in recent weeks, Mr. Donahoe has been
pushing a series of painful cost-cutting measures to erase the
agency's deficit, which will reach $9.2 billion this fiscal year.
They include eliminating Saturday mail delivery, closing up to
3,700 postal locations and laying off 120,000 workers -- nearly
one-fifth of the agency's work force -- despite a no-layoffs
clause in the unions' contracts.

The report relates that the post office's problems stem from one
hard reality: it is being squeezed on both revenue and costs.

The report says the Senate Homeland Security and Governmental
Affairs Committee will hold a hearing on the agency's predicament
on Tuesday.  So far, feuding Democrats and Republicans in
Congress, still smarting from the brawl over the federal debt
ceiling, have failed to agree on any solutions.  It doesn't help
that many of the options for saving the postal service are
politically unpalatable.

The report notes missing the $5.5 billion payment due on Sept. 30,
intended to finance retirees' future health care, won't cause
immediate disaster.  But sometime early next year, the agency will
run out of money to pay its employees and gas up its trucks,
officials warn, forcing it to stop delivering the roughly three
billion pieces of mail it handles weekly.


USA UNITED: Court Allows MV Transportation to Acquire Assets
------------------------------------------------------------
Mark Glover at the Sacramento Bee reports that Fairfield-based MV
Transportation Inc., which bills itself the nation's largest
private provider of paratransit services, said it has purchased
the assets of financially troubled USA United Fleet Inc., a New
York City school bus operator.

According to the report, MV said the purchase was approved this
week by the U.S. Bankruptcy Court of the Eastern District of New
York.  USA United and related entities filed for Chapter 11
bankruptcy protection in early July.

The report says, while specific terms of the purchase were not
disclosed, MV said the transaction is "valued at over $75 million
in revenue," making it the largest acquisition in MV's 36 year
history.

Mr. Glover notes MV said its student transportation subsidiary,
Reliant Transportation Inc., has assumed control of the existing
bus fleet and four New York City Department of Education operation
and maintenance contracts.

The Fairfield company will begin operation of more than 500 bus
routes with approximately 600 vehicles beginning with the Sept. 8
start of the school year in New York City.

Based in Staten Island, New York, USA United Fleet, Inc., aka
Shoreline Fleet, Inc., operates more than 400 buses under several
affiliates.  The Company filed for Chapter 11 bankruptcy
protection (Bank. E.D. N.Y. Case No. 11-45867) on July 6, 2011.
Judge Jerome Feller presides over the case.  Todd E. Duffy, Esq.,
at Anderson Kill & Olick, P.C., represents the Debtor.  The Debtor
estimated both assets and debts of between $10 million and $50
million.


VALCOM, INC: Has Reduced Debt, Sees Further Growth
--------------------------------------------------
ValCom, Inc. released the following message to its shareholders
from the company's Chairman/CEO, Vince Vellardita.

To all Valcom investors:

Thank you for your support in ValCom! I wanted to take this
opportunity to let our shareholders know that we appreciate the
confidence you have shown in the company.  It is our number one
goal to create shareholder value and maximize your investment in
ValCom.

We've received some questions over the past couple of weeks from
shareholders pertaining to the status of the company.  I want to
reassure you that I remain in my role as Chairman/CEO and that
things are business as usual at ValCom.  We are continuing to
monetize ValCom's film and audio library and we are continuing the
growth of My Family TV, our television network.

I've been with the company for over 12 years.  I have invested my
heart, soul, and everything I own in the company.  I am
essentially married to ValCom, and I'm 100% committed to the
growth and success of the business.  I have experienced all the
ups and downs of ValCom.  When a billion dollar hedge fund put the
company in bankruptcy, I was able to emerge from bankruptcy, pay
all creditors 100% on the dollar, and win a case against the fund
in the supreme appellate court where ValCom was rewarded a high 6
figure settlement.  When ValCom's studio operation business was
decimated by the writer's strike and reality TV, I was able to
retool the company's business model to focus on distribution,
production and network television.  I had the vision to acquire a
small television network, rebrand the network to My Family TV, pay
it off in just 2 years, and build equity in the network.  Over the
past 12 years we've been able to acquire the content to establish
a library with an evaluation of over $100 million dollars.
Through all this I've battled and survived stage 4 cancer and have
lost 4 close family members, all the while remaining committed to
the success of ValCom.

We're extremely excited about what is happening in the company.
Over the past 9 months, we have reduced the company debt,
increased our assets, and have built our overall business.  We're
optimistic that the company will continue its pattern of growth.
We're adding new management with individuals who bring valuable
insight to the company through their experience in business,
banking, and finance.  Although certain investors and certain
parties would like me removed, their attempts to date have been
legally invalid according to Delaware law.

I am fully committed to our shareholders and wanted to reinforce
my appreciation of your continued support.

Yours very truly,

Vince Vellardita

Chairman/CEO

                        About ValCom Inc.

Indian Rocks Beach, Fla.-based ValCom, Inc., and its subsidiaries'
businesses include television production for network and
syndication programming, motion pictures, however, revenue is
primarily generated through distribution, production and the TV
network and live event broadcasting including real estate
auctions.  The Company's past and present clients include movie
studios and television networks.  In addition to the production
business, the Company also has a library of television content
for worldwide distribution and acquired a further library of film
and television series with the acquisition of Faith TV (now
renamed My Family TV).

ValCom, Inc., reported a net gain of $16.1 million on $510,049 of
revenues for the six months ended March 31, 2011, compared with a
net loss of $1.4 million on $362,156 of revenues for the same
period ended March 31, 2010.

The Company's balance sheet at March 31, 2011, showed
$24.0 million in total assets, $4.3 million in total liabilities,
and stockholders' equity of $19.7 million.


VAN HAM: Ohio Approves Renewal of Dairy Permits
-----------------------------------------------
WFIN.com reports that a once troubled Putnam County, Ohio dairy
farm has had its operation permits renewed.  The Ohio Department
of Agriculture approved the applications from Van Ham Dairy in
Continental during a meeting this week.

According to the report, nearly a year ago the 2,200 dairy cow
operation filed for Chapter 11 bankruptcy protection. Court
filings at the time showed Van Ham had liabilities between $10 and
$50 million. Operators blamed the issue on low milk prices coupled
with high grain prices.

In 2003 neighbors sued the facility, citing problems with manure
fumes.  At that time the dairy was operating with 650 cows, the
report says.

Based in Continental, Ohio, Van Ham Dairy LLC filed for Chapter 11
protection on May 10, 2010, (Bankr. N.D. Ohio Case No. 10-33231).
Judge Richard L. Speer presides over the case.  John R Burns, III,
Esq., represents the Debtor.  The Debtor estimated both assets and
debts of between $1 million and $10 million.


VERSATILE CARD: Files for Bankruptcy, Seeks Stability
-----------------------------------------------------
Dow Jones' DBR Small Cap reports that Versatile Card Technology
Inc. and its affiliates, which also make credit cards for
MasterCard Inc. and Visa Inc., sought Chapter 11 protection to
ensure their continued operations as they gear up for the busy
holiday season.  Versatile Card Technology Inc. is a direct-
mailing firm.


VERTRUE LLC: S&P Lowers CCR to 'CCC+' on Weakening Liquidity
------------------------------------------------------------
Standard & Poor's Rating Services lowered its corporate credit
rating on Norwalk, Conn.-based Vertrue LLC to 'CCC+' from 'B',
reflecting poor operating performance and weakening liquidity
following $35 million of debt prepayments and fees related to an
amendment to the credit agreement, and roughly $33 million of
expenses to appeal an adverse decision regarding an Iowa
litigation. "Our rating outlook is negative," S&P related.

"At the same time, we lowered our issue-level ratings on the
company's first-lien senior secured credit facilities to 'CCC+'
(the same as the corporate credit rating) from 'B'. The recovery
rating on this debt remains '3', indicating our expectation of
meaningful (50% to 70%) recovery for lenders in the event of a
payment default," S&P stated.

"We also lowered our issue-level ratings on Vertrue's second-lien
credit facility to 'CCC-' (two notches lower than the corporate
credit rating) from 'CCC+'. The recovery rating remains '6',
indicating our expectation of negligible (0-10%) recovery in the
event of a payment default," S&P stated.

"The downgrade and negative outlook reflect Vertrue's weak
liquidity and our concern that revenue and EBITDA will continue to
decline over the near-to-intermediate term," said Standard &
Poor's credit analyst Chris Valentine. "We believe the weak
economy will continue to pressure the company's operating
performance and that Vertrue could likely violate its financial
covenants as early as the first quarter of 2012. In our opinion,
the company's sharp decline in liquidity and deteriorating EBITDA
will further worsen credit metrics and impede Vertrue's ability to
achieve another amendment."


WASHINGTON LOOP: Employs Palm Harbor Law Group as Counsel
---------------------------------------------------------
The Honorable Michael G. Williamson has approved the application
of Washington Loop, LLC to employ Joel S. Treuhaft, Esq., and the
law firm Palm Harbor Law Group, P.A., as its counsel under a
general retainer and to pay counsel a reasonable fee upon
application to and order by the Court.

                     About Washington Loop, LLC

Punta Gorda, Florida-based Washington Loop, LLC, a Limited
Liability Company, filed for Chapter 11 bankruptcy protection on
March 31, 2011 (Bankr. M.D. Fla. Case No. 11-06053).  Joel S.
Treuhaft, Esq., who has an office in Palm Harbor, Florida, serves
as the Debtor's bankruptcy counsel.  The Debtor disclosed
$45,098,259 in assets and $19,703,694 in liabilities as of the
Chapter 11 filing.

The Debtor was dismissed from a prior Chapter 11 case, (Case
No. 9:10-27981) by order of the Court entered on March 17, 2011.
In the Debtor's prior Chapter 11 case, the Debtor's Schedule F, as
filed under penalty of perjury, listed some 34 general unsecured
creditors totaling claims of $1,953,354.  In that case, the
Debtor, under penalty of perjury listed all Schedule F debts and
non-contingent, liquidated, and undisputed.

The Debtor now declares, under penalty of perjury, that all
Schedule F debts are unliquidated.  These schedules were filed no
less than two weeks after the dismissal of the prior Chapter 11
case, and only six weeks after the Debtor filed its Schedule F in
that case.


* Delaware LLC Creditors No Standing to Assert Derivative Claims
----------------------------------------------------------------
In a recent en banc decision by the Delaware Supreme Court in CML
V, LLC v. Bax, 2011 Del. LEXIS 480 (Del. Sept. 2, 2011), the
Delaware Supreme Court held that creditors of a Delaware limited
liability company (LLC) have no standing to assert derivative
claims on behalf of an LLC, even if the LLC is insolvent.  The
ruling rests on the plain language of Section 18-1002 of the
Delaware Limited Liability Company Act (the LLC Act), which
expressly provides that only members and assignees of an interest
in an LLC have standing to bring derivative claims in the right of
the LLC.

The Delaware Supreme Court's decision in Bax makes it clear that
creditors of an insolvent Delaware LLC have lesser rights than
creditors of an insolvent Delaware corporation because creditors
of an insolvent Delaware corporation do "have standing to maintain
derivative claims against directors on behalf of the corporation
for breaches of fiduciary duties."  N. Am. Catholic Educ.
Programming Found., Inc. v. Gheewalla, 930 A.2d 92, 101 (Del.
2007) ("Gheewalla").  The recent decision in Bax has significant
implications for Delaware LLCs and their stakeholders,
counterparties, creditors, managers and affiliates.

Background

The facts in Bax are straightforward.  The plaintiff, CML V (the
creditor), made a subordinated secured loan to the defendant,
JetDirect Aviation Holdings, LLC (Jet-LLC), a Delaware LLC that
was a private jet management and charter company.  Jet-LLC failed
to repay the loan and began liquidating its assets to reduce its
debt burden.  The creditor sued Jet-LLC and its senior management
in the Delaware Court of Chancery, asserting derivative claims for
breach of fiduciary duty by alleging that senior management failed
to adequately inform themselves of Jet-LLC's financial condition,
failed to institute and monitor proper internal financial
controls, hid negative information from Jet-LLC's board and
engaged in self-interested transactions, with the result that
Jet-LLC entered into a series of ill-fated acquisitions at a time
when it lacked adequate working capital.  The creditor asserted
that these and other acts constituted breaches of management's
fiduciary duties of care, loyalty and good faith. (The creditor
also asserted a direct claim for breach of a loan agreement, but
the parties agreed that the Court of Chancery did not have
jurisdiction over that claim unless the derivative claims survived
a motion to dismiss.)

The individual defendants moved successfully in the Court of
Chancery to dismiss the creditor's derivative claims.  The Court
of Chancery agreed with the defendants that Section 18-1002 of the
LLC Act affords standing to assert derivative claims on behalf of
the LLC only to members of an LLC and their assignees by
providing: "[i]n a derivative action, the plaintiff must be a
member or an assignee of a limited liability company interest
at the time of bringing the action . . . ." 6 Del. C. Sec. 18-1002
(emphasis added).

If you have any questions regarding the matters discussed in this
memorandum, please contact the following attorneys or call your
regular Skadden contact.

The Delaware Supreme Court Decision

The creditor appealed to the Delaware Supreme Court, arguing that
Section 18-1002 of the LLC Act should be construed to permit
creditors of a Delaware LLC to assert derivative claims on behalf
of the LLC.  The creditor also argued that if Section 18-1002 is
read to deny LLC creditors' standing to assert derivative
claims it is an unconstitutional limitation of the Delaware Court
of Chancery's equity jurisdiction.

The Delaware Supreme Court rejected both arguments. Relying on the
plain language of Section 18-1002, the court concluded that the
LLC Act imposes a clear and unambiguous limitation on standing to
assert derivative claims:

Because section 18-1002 is unambiguous, is susceptible of only one
reasonable interpretation, and does not yield an absurd or
unreasonable result, we apply its plain language.  Only LLC
members or assignees of LLC interests have derivative standing to
sue on behalf of an LLC - creditors do not.

In reaching its conclusion, the court observed that a choice of
entity type is significant, and that creditors are well-advised to
give consideration to the structure of their counterparty before
extending credit: "[u]ltimately, LLCs and corporations are
different; investors can choose to invest in an LLC, which offers
one bundle of rights, or in a corporation, which offers an
entirely separate bundle of rights."  The court did not agree with
the creditor's position that it was "absurd" to interpret the
LLC Act in a way that would establish different derivative
standing rules for Delaware LLCs and corporations.  Rather, the
court referred to the policy of the LLC Act to give maximum effect
to the principles of freedom of contract, which allows parties to
"define the contours of their relationships with each other to the
maximum extent possible." See 6 Del. C. Sec. 18-1101.
Accordingly, stakeholders in an LLC are free to contractually
agree to their respective rights and remedies.

The court also rejected the creditor's argument that interpreting
Section 18-1002 to preclude derivative standing to LLC creditors
is unconstitutional under Article IV, Section 10 of the Delaware
Constitution, which prohibits the Delaware legislature from
passing statutes that limit the equity jurisdiction of the Court
of Chancery.3 Accordingly, the Supreme Court affirmed the
dismissal of all of the creditor's derivative claims.

Implications

Bax has important implications for agreements, transactions and
litigations involving Delaware LLCs.  Lenders and other
counterparties contracting with a Delaware LLC might seek
contractual rights and remedies, including provisions in the LLC's
organizational documents, or other rights and protections, in lieu
of standing to assert derivative claims.  Provisions that could be
included in LLC agreements include information rights, rights to
recover from specific LLC assets, rights to become an assignee or
member upon the LLC's default of debt or other obligations and
limitations on distributions to members.  LLC creditors also might
insist upon guarantees or other direct contractual rights of
recovery against LLC members and managers, approval rights, and
other creditor-protective terms and conditions.

Moreover, parties involved in current or potential Chapter 11
cases involving a Delaware LLC or Delaware limited partnership
should consider the holding in Bax before negotiating Chapter 11
plan terms that transfer derivative LLC or partnership claims to
litigation trusts or third parties.  Assignees of such claims may
encounter limits on their standing to pursue such derivative
claims.


* S&P's 2011 Global Corp Default Tally Remains at 26
----------------------------------------------------
The 2011 global corporate default tally remains at 26 after no
issuers defaulted last week, said an article published Sept. 1 by
Standard & Poor's Global Fixed Income Research, titled "Global
Corporate Default Update (Aug. 25 - 31, 2011)."

The tally of global corporate defaults in 2011 is slightly less
than half the 61 issuers that defaulted by this time last year.
Regionally, 18 of the defaulters this year were based in the U.S.,
three were based in New Zealand, two were in Canada, and one each
was in the Czech Republic, France, and Russia.  Of the total
defaulters by this time in 2010, 44 were U.S.-based issuers, eight
were in the other developed region (Australia, Canada, Japan,
and New Zealand), seven were from the emerging markets, and two
were European issuers.

Twelve of this year's defaults were due to missed interest or
principal payments and six were due to distressed exchanges --
both among the top reasons for default in 2010.  Of the remaining
eight, four issuers defaulted after they filed for bankruptcy,
another two were forced into liquidation as a result of regulatory
actions, the seventh had its banking license revoked by its
country's central bank, and the eighth was appointed a receiver.

Of the defaults in 2010, 28 defaults resulted from missed interest
or principal payments, 25 resulted from Chapter 11 and foreign
bankruptcy filings, 23 from distressed exchanges, three from
receiverships, one from regulatory directives, and one from
administration.


* S&P: Default Rate Decline to an Estimated 2% in August
--------------------------------------------------------
Defaults remain few even as weaknesses in the U.S. economy and
uncertainty in the financial markets persist.  The speculative-
grade corporate default rate declined to an estimated 2.0% in
August from 2.1% in July, said an article published Sept. 1 by
Standard & Poor's Global Fixed Income Research, titled "U.S.
Credit Metrics Monthly: Default Rate Continued To Decline In
August As The Credit Markets Weakened."

In the U.S., three companies defaulted in August: one from the
forest/building products/homebuilders sector and two from the
transportation sector.

"The U.S. corporate speculative-grade spread rose to 712 basis
points (bps) at the end of August from 552 bps at the end of July,
reflecting the continued economic challenges and the increased
anxiety among investors," said Diane Vazza, head of Standard &
Poor's Global Fixed Income Research.  By comparison, the
speculative-grade spread was 675 bps a year ago.

The U.S. corporate investment-grade spread increased to 210 bps at
the end of August from 170 bps at the end of July and slightly
from the 205 bps a year ago.  Standard & Poor's distress ratio
climbed to a level last seen in year-end 2009: It more than
doubled to 13.2% on Aug. 15 from 6.8% a month earlier.

"The preliminary estimate for the U.S. 12-month-trailing
speculative-grade default rate as of August is 2.0%, slightly
lower than the 2.1% for the previous month," said Ms. Vazza.  "We
expect the speculative-grade default rate to decline to a mean
forecast of 1.6% by June 2012.  Alternatively, the default rate
could climb to 4%, according to our pessimistic scenario, or fall
to 1.2%, based on our optimistic scenario."


* Georgia Commerce Buys 2 Closed Banks; Year's Failures Now 70
--------------------------------------------------------------
Georgia Commerce Bank, Atlanta, Georgia, acquired the banking
operations, including all the deposits, of Patriot Bank of
Georgia, Cumming, Georgia, and CreekSide Bank, Woodstock, Georgia.
The two banks were closed Friday by the Georgia Department of
Banking and Finance, which appointed the Federal Deposit Insurance
Corporation (FDIC) as receiver.  To protect the depositors, the
FDIC entered into a purchase and assumption agreement with Georgia
Commerce Bank.

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.

                  2011 Failed Banks List

The FDIC was appointed as receiver for the closed banks.  To
protect the depositors, the FDIC entered into a purchase and
assumption agreement with various banks that agreed to assume the
deposits of most of the closed banks.  The FDIC also entered into
loss-share transactions on assets bought by the banks.

For this year, the failed banks are:

                                  Loss-Share
                                  Transaction Party   FDIC Cost
                     Assets of    Bank That Assumed   to Insurance
                     Closed Bank  Deposits & Bought   Fund
   Closed Bank       (millions)   Certain Assets      (millions)
   -----------       -----------  -----------------   ------------
CreekSide Bank           $102.3  Georgia Commerce Bank      $27.3
Patriot Bank of Georgia  $150.8  Georgia Commerce Bank      $44.4

First Choice Bank Geneva $141.0  Inland Bank & Trust        $31.0
First Southern Nat'l     $164.6  Heritage Bank of the South $39.6
Lydian Private Bank    $1,700.0  Sabadell United Bank      $293.2
Public Savings Bank       $46.8  Capital Bank, N.A.         $11.0
1st Nat'l Bank of Olathe $538.1  Enterprise Bank & Trust   $116.6
Bank of Whitman          $548.6  Columbia State Bank       $134.8
Bank of Shorewood        $110.7  Heartland Bank and Trust   $25.6
Integra Bank           $2,200.0  Old National Bank         $170.7
BankMeridian, N.A.       $239.8  SCBT N.A.                  $65.4
Virginia Business         $95.8  Xenith Bank                $17.3
Bank of Choice         $1,070.0  Bank Midwest, N.A.        $213.6
LandMark Bank of Fla.    $275.0  American Momentum          $34.4
Southshore Community      $46.3  American Momentum           $8.3
Summit Bank               $72.0  The Foothills Bank         $11.3
First Peoples Bank       $228.3  Premier American Bank       $7.4
One Georgia Bank         $186.3  Ameris Bank                $44.4
High Trust Bank          $192.5  Ameris Bank                $66.0
Colorado Capital         $717.5  First-Citizens Bank       $283.8
First Chicago Bank       $959.3  Northbrook Bank           $284.3
Signature Bank            $66.7  Points West Community      $22.3
Mountain Heritage        $103.7  First American Bank        $41.1
First Commercial Bank     $98.6  Stonegate Bank             $28.5
McIntosh State Bank      $339.9  Hamilton State Bank        $80.0
Atlantic Bank and Trust  $208.2  First Citizens Bank        $36.4
First Heritage Bank      $173.5  Columbia State             $34.9
First Georgia Banking    $731.0  CertusBank                $156.5
Atlantic Southern        $741.9  CertusBank                $273.5
Summit Bank              $142.7  Columbia State             $15.7
Coastal Bank             $129.4  Premier American Bank      $13.4
Community Central        $476.3  Talmer Bank & Trust       $183.2
The Park Avenue Bank     $953.3  Bank of the Ozarks        $306.1
Cortez Community Bank     $70.9  Florida Community Bank     $18.6
First National Bank      $352.0  Florida Community Bank     $42.9
First Choice Community   $308.5  Bank of the Ozarks         $92.4
Heritage Banking         $224.0  Trustmark National         $49.1
Rosemount National        $37.6  Central Bank                $3.6
Nexity Bank              $793.7  AloStar Bank of Commerce  $175.4
New Horizons Bank        $110.7  Citizens South Bank        $30.9
Bartow County Bank       $330.2  Hamilton State Bank        $69.5
Superior Bank          $3,000.0  Superior Bank, N.A.       $259.6
Nevada Commerce Bank     $144.9  City National Bank         $31.9
Western Springs          $186.8  Heartland Bank             $31.0
Bank of Commerce         $163.1  Advantage National         $41.9
Legacy Bank              $190.4  Seaway Bank and Trust      $43.5
First Nat'l Bank of Davis $90.2  The Pauls Valley National  $26.5
Valley Community Bank    $123.8  First State Bank           $22.8
Citizens Bank            $214.3  Heritage Bank              $59.4
San Luis Trust           $332.6  First California           $96.1
Habersham Bank           $387.6  SCBT National              $90.3
Charter Oak Bank         $120.8  Bank of Marin              $21.8
Sunshine State           $125.5  Premier American           $30.0
Badger State Bank         $83.8  Royal Bank                 $17.5
Canyon National          $210.9  Pacific Premier Bank       $10.0
Peoples State Bank       $390.5  First Michigan Bank        $87.4
American Trust Bank      $238.2  Renasant Bank              $71.5
Community First           $51.1  Northbrook Bank            $11.7
North Georgia Bank       $153.2  BankSouth                  $35.2
First Community Bank   $2,310.0  U.S. Bank, N.A.           $260.0
FirsTier Bank            $781.5  No Acquirer               $242.6
Evergreen State          $246.5  McFarland State            $22.8
The First State Bank      $43.5  Bank 7                    $20.1
The Bank of Asheville    $195.1  First Bank                 $56.2
CommunitySouth Bank      $440.6  Certus Bank                $46.3
Enterprise Banking       $100.9  [No Acquirer]              $39.6
United Western Bank    $2,050.0  First-Citizens Bank       $312.8
Oglethorpe Bank          $230.6  Bank of the Ozarks         $80.4
Legacy Bank, Arizona     $150.6  Enterprise Bank & Trust    $27.9
First Commercial Bank    $598.5  First Southern Bank        $78.0

In 2010, there were 157 failed banks, compared with 140 in 2009
and just 25 for 2008.

A complete list of banks that failed since 2000 is available at:

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

                     865 Banks in Problem List

The Federal Deposit Insurance Corp.'s list of "problem" banks fell
in the second quarter 2011 for the first time since 2006 as the
industry's income improved and costs tied to bad loans eased.  The
confidential list of banks deemed at greater risk of collapse
shrank by 23 firms to 865, the FDIC said Aug. 23 in its Quarterly
Banking Profile.  The last time that happened was the third
quarter of 2006 before the credit crisis began, the agency said.

The FDIC defines "problem" institutions as those with financial,
operational or managerial weaknesses that threaten their
viability.

The deposit insurance fund, which protects customer holdings up to
$250,000 per account in the event of a failure, was positive for
the first time in two years, the agency said.  The fund rose to
$3.9 billion, because of fewer expected bank failures and
assessment revenue, the agency said.  The FDIC insures deposits at
more than 7,500 banks and thrifts.

                Problem Institutions        Failed Institutions
                --------------------        -------------------
Year           Number  Assets (Mil)        Number Assets (Mil)
----           ------  ------------        ------ ------------
2010              884      $390,017         157        $92,085
2009              702      $402,800         140       $169,700
2008              252      $159,405          25       $371,945
2007               76       $22,189           3         $2,615
2006               50        $8,265           0             $0
2005               52        $6,607           0             $0
2004               80       $28,250           4           $170

Federal regulators assign a composite rating to each financial
institution, based upon an evaluation of financial and operational
criteria.  The rating is based on a scale of 1 to 5 in ascending
order of supervisory concern.  "Problem" institutions are those
institutions with financial, operational, or managerial weaknesses
that threaten their continued financial viability. Depending upon
the degree of risk and supervisory concern, they are rated either
a "4" or "5."  The number and assets of "problem" institutions are
based on FDIC composite ratings.  Prior to March 31, 2008, for
institutions whose primary federal regulator was the OTS, the OTS
composite rating was used.


* Strategic Value Partners to Exit Liberty Electric Investment
--------------------------------------------------------------
Dow Jones' DBR Small Cap reports that distressed-asset investor
Strategic Value Partners LLC struck a deal to exit a 2006
investment, selling power generation company Liberty Electric
Generation Holdings LLC to Energy Capital Partners.


* Best Lawyers in America Recognizes 65 Bracewell Attorneys
-----------------------------------------------------------
Sixty-five Bracewell & Giuliani LLP attorneys have been selected
by their peers for inclusion in The Best Lawyers in America(R)
2012.

The following is a summary of the individual attorneys who will be
recognized in the 2012 rankings:

AustinAlan D. Albright - Litigation - PatentW. Stephen Benesh -
Bet-the-Company Litigation, Commercial Litigation, Litigation -
Banking & Finance, Litigation - ConstructionEdward A. Cavazos -
Technology LawConor M. Civins - Litigation - Patent, Trademark
LawR. Joe Hull - Tax LawPhilip F. Ricketts - Administrative /
Regulatory Law, Communications Law, Telecommunications, Energy
Law, Electricity, Public UtilityTimothy A. Wilkins - Environmental
Law, Administrative/Regulatory, Clean Water Act, Counseling,
Enforcement Defense, Environmental Crimes, Environmental
Permitting, Environmental, Health and Safety Auditing and
Management Systems, Industry, Litigation, RCRA/Hazardous Waste,
Solid Waste, Superfunds/Environmental Remediation

DallasSanford M. Brown - Banking and Finance Law, Financial
Services Regulation LawBruce A. Cheatham - Corporate Compliance
Law, Corporate Governance Law, Corporate Law, Corporate
Compliance, Corporate Finance, Corporate Governance, General
Corporate, IPO, Leveraged Buyouts, Mergers & Acquisitions,
Professional Ethics and Responsibility, Publicly-Held Companies,
Retail, Securities, Transactions, Venture CapitalJanice Z. Davis -
Corporate LawAlfred G. Kyle - Real Estate LawChristopher H.
Rentzel - Litigation - Labor & Employment, Litigation - Real
EstateRobert E. Sheeder - Employment Law - Management, Labor Law -
Management, Litigation - Labor & EmploymentSamuel M. Stricklin -
Bankruptcy and Creditor Debtor Rights / Insolvency and
Reorganization LawLon R. Williams, Jr. - Employment Law -
Management, Labor Law - Management

HartfordEvan D. Flaschen - Bankruptcy and Creditor Debtor Rights /
Insolvency and Reorganization Law; Litigation - Bankruptcy

HoustonJay R. Aldis - Employment Law - Management, Labor Law -
ManagementGlenn A. Ballard, Jr. - Litigation - Intellectual
PropertyLance W. Behnke - Tax LawJohn L. Bland - Corporate
LawGregory M. Bopp - Tax LawJohn R. Brantley - Corporate LawMark
C. Evans - Banking and Finance Law, International Trade and
Finance Law, Project Finance LawKelly Frels - Education LawDewey
J. Gonsoulin, Jr. - Banking and Finance Law, Oil & Gas Lending J.
Clifford Gunter III - Bet-the-Company Litigation, Commercial
Litigation, Energy LawWilliam D. Gutermuth - Corporate LawAmy
Karff Halevy - Employment Law - Management, Litigation - Labor &
EmploymentWarren W. Harris - Appellate PracticeWilliam J. Hayes -
Banking and Finance Law, Asset-Based Lending, Finance, Loan
DocumentationTracy D. Hester - Environmental Law,
Administrative/RegulatoryAlbert B. Kimball, Jr. - Litigation -
Patent, Patent LawMarcy E. Kurtz - Bankruptcy and Creditor Debtor
Rights / Insolvency and Reorganization Law, Litigation -
BankruptcyGeoffrey A. Long - Corporate Governance LawThomas D.
Manford III - Leveraged Buyouts and Private Equity LawEdgar J.
Marston III - Corporate Governance Law, Corporate LawThomas O.
Moore III - Real Estate LawGary W. Orloff - Corporate LawMary
Catherine Ozdogan - Banking and Finance LawG. Alan Rafte - Energy
Law, Natural Resources Law, Oil & Gas Law, Project Finance
LawCharles H. Still, Jr. - Corporate Governance Law, Corporate
Law, Securities, Securities / Capital Markets Law, Securities
RegulationMichael S. Telle - Corporate Law, Corporate Finance,
Mergers & Acquisitions, SecuritiesClark G. Thompson, Jr. -
International Trade and Finance Law, Real Estate LawR. Daniel
Witschey, Jr. - Corporate LawWilliam A. Wood III - Bankruptcy and
Creditor Debtor Rights / Insolvency and Reorganization Law

New YorkRobin J. Miles - Banking and Finance LawLaurence A.
Silverman - Entertainment Law - Motion Pictures & Television

San AntonioMario A. Barrera - Employment Law - Management, Labor
Law - Management, Litigation - Labor & EmploymentLeslie Selig Byrd
- Employment Law - Management, Labor Law - ManagementRichard C.
Danysh - Bet-the-Company Litigation, Commercial LitigationJohn A.
Ferguson, Jr. - Employment Law - Management, Labor Law -
Management, Litigation - Labor & EmploymentJudy K. Jetelina -
Employment Law - Management, Labor Law - Management, Litigation -
Labor & EmploymentJames H. Kizziar, Jr. - Employment Law -
Management, Labor Law - Management, Labor Law - Union, Litigation
- Labor & EmploymentGeorge P. Parker, Jr. - Employment Law -
Management, Labor Law - ManagementJ. Tullos Wells - Employment Law
- Management, Labor Law - Management

SeattleDavid A. Domansky - Energy Law

Washington, D.C.Richard W. Beckler - Criminal Defense: White-
Collar, Litigation - SecuritiesJeffrey R. Holmstead -
Environmental LawLisa M. Jaeger - Litigation - EnvironmentalMark
K. Lewis - Oil & Gas Law, Gas, Pipeline, RegulatoryNancy Jo Nelson
- Project Finance LawMichael L. Pate - Government Relations
PracticeCharles H. Shoneman - Energy Law, Oil & Gas LawGeorge H.
Williams, Jr. - Energy LawNancy A. Wodka - Project Finance Law

Best Lawyers is based on a peer-review survey in which more than
41,000 attorneys cast almost 3.9 million votes on the legal
abilities of other lawyers in their areas of practice. For more
information on The Best Lawyers in America visit their Web site at
http://bestlawyers.com/default.aspx.

                   About Bracewell & Giuliani

About Bracewell & Giuliani LLPBracewell & Giuliani LLP --
http://www.bgllp.com/-- is an international law firm with more
than 470 lawyers in Texas, New York, Washington, D.C.,
Connecticut, Seattle, Dubai, and London.


* Lowell Directing Troubled Properties to Receivers
---------------------------------------------------
Jim Cronin at Bankers & Tradesman reports that the city of Lowell
has pushed two residential properties -- with thousands of dollars
of liens on them for public safety violations -- into
receivership, so a developer can rehab the properties and
eliminate the blight the owners have created.

On Sept. 12, the Charles Hope Co., the receiver chosen for the two
properties, will present its plan to the state Housing Court to
rehabilitate the properties at 128 6th St. in Centralville and 41
Ellis Ave. in Pawtucketville, according to the report.  The report
relates that the court has the ultimate authority to approve those
plans.

The report notes that those two specific cases are only the
beginning of these types of proceedings in Lowell.

The city has identified roughly a dozen other problematic
properties, said Kendra Amaral, deputy director of Lowell's
department of planning and development, the report discloses.

Bankers & Tradesman says that those properties were either
foreclosed upon in the robo-signing scandal, in which bank
employees signed foreclosure documents without reviewing case
files as required by law, or have been abandoned by unresponsive
owners uninterested in addressing the problems their neglect has
caused.

Bankers & Tradesman notes that the properties the Charles Hope
Cos. will be inheriting are a mixed bag.  The report says that the
building at 128 6th St. was a two-unit apartment building turned
into an illegal four-unit property, which the developer will turn
back into two apartments. And 41 Ellis Ave. is a single family
home that will remain as such once rehabbed.

Alan Hope, managing partner for the redevelopment firm, said the
company will likely either rent the properties as Section 8 low
income housing or sell them, but that decision is still unmade,
the report adds.


* Upcoming Meetings, Conferences and Seminars
---------------------------------------------

Oct. 14, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     NCBJ/ABI Educational Program
        Tampa Convention Center, Tampa, Fla.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. __, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     International Insolvency Symposium
        Dublin, Ireland
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 25-27, 2011
  TURNAROUND MANAGEMENT ASSOCIATION
     Hilton San Diego Bayfront, San Diego, CA
        Contact: http://www.turnaround.org/

Dec. 1-3, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     23rd Annual Winter Leadership Conference
        La Quinta Resort & Spa, La Quinta, Calif.
           Contact: 1-703-739-0800; http://www.abiworld.org/

April 3-5, 2012
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Spring Conference
        Grand Hyatt Atlanta, Atlanta, Ga.
           Contact: http://www.turnaround.org/

Apr. 19-22, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Annual Spring Meeting
        Gaylord National Resort & Convention Center,
        National Harbor, Md.
           Contact: 1-703-739-0800; http://www.abiworld.org/

July 14-17, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Southeast Bankruptcy Workshop
        The Ritz-Carlton Amelia Island, Amelia Island, Fla.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Aug. 2-4, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Mid-Atlantic Bankruptcy Workshop
        Hyatt Regency Chesapeake Bay, Cambridge, Md.
           Contact: 1-703-739-0800; http://www.abiworld.org/

November 1-3, 2012
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Annual Convention
        Westin Copley Place, Boston, Mass.
           Contact: http://www.turnaround.org/

Nov. 29 - Dec. 2, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Winter Leadership Conference
        JW Marriott Starr Pass Resort & Spa, Tucson, Ariz.
           Contact: 1-703-739-0800; http://www.abiworld.org/

April 10-12, 2013
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Spring Conference
        JW Marriott Chicago, Chicago, Ill.
           Contact: http://www.turnaround.org/

October 3-5, 2013
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Annual Convention
        Marriott Wardman Park, Washington, D.C.
           Contact: http://www.turnaround.org/



                           *********

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

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

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

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

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

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

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

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

                           *********

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

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

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

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

The TCR subscription rate is $775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
Beard at 240/629-3300.


                  *** End of Transmission ***