TCR_Public/110913.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

           Tuesday, September 13, 2011, Vol. 15, No. 254

                            Headlines

4KIDS ENTERTAINMENT: PNC Financial No Longer 5% Shareholder
III TO I MARITIME: McGladrey & Pullen Raises Going Concern Doubt
AE BIOFUELS: Keyes Marketing Pact Amended; CEO Has 3-Yr. Contract
AEROGROW INTERNATIONAL: Posts $1.5-Mil. Net Loss in June 30 Qtr.
AIG INC: Fitch Puts Rating on Three Class Debentures at Low-B

AIRPLAY DIRECT: Involuntary Chapter 11 Case Summary
AMBASSADORS INTERNATIONAL: Plan Disclosures Hearing on Sept. 27
ATL 2130: Case Summary & 8 Largest Unsecured Creditors
BAKERSFIELD ASCENT: Case Summary & 16 Largest Unsecured Creditors
BANK OF AMERICA: To Cut $5BB in Annual Costs & Slash 30T Jobs

BEAR ISLAND: Plan Outline Hearing Scheduled for Oct. 5
BHI EXCHANGE: S&P Gives 'B' Corp. Credit Rating; Outlook Stable
BLUE HERON: Trustee Hires CB Richard Ellis to Market 23-Acre Site
BROADWAY/WORKMAN LLC: Case Summary & Largest Unsecured Creditor
BUCKTOWN STATION: May Use PNC Collateral to Pay 50% of Lawyer Fees

CABINET AND BATH: Case Summary & 20 Largest Unsecured Creditors
CAPITOL CITY: Eight Directors Elected at Annual Meeting
CAROLINA OIL: Case Summary & 19 Largest Unsecured Creditors
CATHOLIC CHURCH: Insurers Ordered to Pay Share of Wilm. Settlement
CB HOLDINGS: Wants Court to Extend Plan Filing Deadline to Dec. 12

CB HOLDING: Court Sets Oct. 10, 2011 Claims Bar Date
CITIZENS DEVELOPMENT: Creditors Must File Claims by Sept. 30
CLAUDIO OSORIO: Auction for Miami Beach Mansion Slated for Nov. 3
COMPOSITE TECHNOLOGY: Has Deal With Committee for Weiss as CRO
COMPREHENSIVE CARE: Issues $1.8MM Promissory Notes to Investors

COMPREHENSIVE CARE: PNC Financial Ceases to Hold 5% Equity Stake
COMPREHENSIVE CARE: Bernard Sherman Holds 9.6% Equity Stake
CORNERSTONE BANCSHARES: Ten Directors Elected at Annual Meeting
CRAIG WASHINGTON: U.S. Gov't May Foreclose on 3 Real Properties
D & L EQUIPMENT: Dist. Ct. Says Collateral Description Sufficient

DE LA ROSA: Case Summary & 8 Largest Unsecured Creditors
DIGITAL REALTY: Fitch Puts Rating on $607 Million Stock at 'BB+'
DYNEGY INC: Holdings Acquires Direct Ownership of Dynegy Coal
ELIZABETH MITCHELL: Bankruptcy Court Won't Reopen Chapter 7 Case
ENERGY EDGE: Corrects Form 10-Q; Posts $32,200 1st Qtr. Net Loss

ENVIRONMENTAL SOLUTIONS: Posts $3.9 Million Net Loss in Q2 2011
EPICEPT CORP: Okayed for Primary Listing on Nasdaq OMX
EVERGREEN SOLAR: Wants to Hire UBS Securities as Investment Banker
EVERGREEN SOLAR: Court OKs Bingham McCutchen as Counsel
EVERGREEN SOLAR: Court OKs Hilco as Marketing & Sales Agent

EVERGREEN SOLAR: Court OKs Pachulski Stang as Co-Counsel
EVERGREEN SOLAR: Court OKs Zolfo Cooper as Financial Advisor
EXPERT ROOFING: Files for Chapter 13 Bankruptcy Protection
FAIRPOINT COMMUNICATIONS: To Slash 400 Jobs in Coming Months
FAIRPOINT COMMUNICATIONS: Moody's Says Reductions Credit Positive

FAITH CHRISTIAN: Plan Outline Hearing Scheduled for Oct. 4
FANNIE MAE: Settlement With Regulators Said to Be Near
FIREKEEPERS DEVELOPMENT: S&P Affirms 'B+' Issuer Credit Rating
FOGO DE CHAO: S&P Gives 'B' Corp. Credit Rating; Outlook Stable
FREDDIE MAC: Settlement With Regulators Said to Be Near

GARLOCK SEALING: Seeks to Terminate DIP Financing with BoA
GENTA INC: Has 429.4 Million Outstanding Common Shares
GEO POINT: Posts $380,500 Net Loss in June 30 Quarter
GEORGE MASON: Case Summary & 20 Largest Unsecured Creditors
GIORDANO'S ENTERPRISES: Gino's Owner Plans to Bid for Assets

GRAHAM PACKAGING: Suspending Filing of Reports with SEC
GRAMERCY CAPITAL: Announces Settlement of $549.7MM Mezzanine Loans
GREAT ATLANTIC: Shareholder Claims Execs. Hushed Faulty Finances
GWINNETT PLACE: Voluntary Chapter 11 Case Summary
HD SUPPLY: Incurs $101 Million Second Quarter Net Loss

HD SUPPLY: Awarded $23 Million Damages in Andritz Litigation
HEARUSA INC: Posts $1.8-Mil. Net Loss in Qtr. Ended July 2
HIGHER HOPE: Case Summary & 3 Largest Unsecured Creditors
HOMELAND SECURITY: Forbearance From YA Global Expires Tomorrow
HOVNANIAN ENTERPRISES: Moody's Cuts Corp. Family Rating to 'Caa2'

HOVNANIAN ENTERPRISES: Incurs $50.9MM Net Loss in July 31 Quarter
HUDSON HEALTHCARE: Proposes Settlement With Creditors
ICAD INC: Gets Nasdaq Letter on Non-Compliance With Minimum Bid
IL FORNAIO: S&P Gives 'B+' Corp. Credit Rating; Outlook Stable
INDIANA EQUITY: Has Access to Fannie Cash Collateral Until Oct. 31

INFUSION BRANDS: Sells $1 Million Preferred Shares and Warrants
INSIGHT PHARMACEUTICALS: Moody's Gives 'B2' Corp. Family Rating
INT'L RARITIES: Federal Agents Raid Minneapolis Offices
INTELLIGENT COMMUNICATION: Reports $2.4MM Net Income in 2nd Qtr.
INTELSAT SA: Sees $725MM-$800MM 2011 Total Capital Expenditures

J.C. EVANS: U.S. Trustee Appoints 7-Member Creditor's Panel
JCK HOTELS: Hearing on Case Dismissal Scheduled for Sept. 15
JIREH LEASING: Voluntary Chapter 11 Case Summary
JOSEPH BORGES: Ag New Mexico Has Interest in CWT Funds
KEELEY AND GRABANSKI: 8th Cir. BAP Affirms Trustee Appointment

LAS VEGAS MONORAIL: Bondholders Have Tentative Deal
LEE ENTERPRISES: Pushes Back Due Date of $864 Million Debt
LEHR CONSTRUCTION: Trustee Can Retain Davis Graber as Accountants
LEHR CONSTRUCTION: Marotta Gund OK'd as Trustee's Fin'l Advisor
LESARRA ATTACHED: Case Conversion Hearing Rescheduled for Sept. 28

LEXINGTON HOLDINGS: Case Summary & 13 Largest Unsecured Creditors
LIONCREST TOWERS: Hearing on Wells Fargo Cash Use Continued Today
LIONCREST TOWERS: Hearing on Plan Disclosures Today
LOS ANGELES DODGERS: Files Schedules of Assets and Liabilities
LOS ANGELES SYNDICATE: Posts $47,200 Net Loss in Second Quarter

M WAIKIKI: Replaces Marriott With New Management Company
MACCO PROPERTIES: Trustee Taps Sperry Van Ness as Listing Broker
MADDEN CORPORATION: Case Summary & 11 Largest Unsecured Creditors
MARCO POLO: Creditors Blast DIP Financing as Inside Job
MARFIG ALIMENTOS: High Leverage Cues Fitch to Hold Low-B Ratings

MARONDA HOMES: Can Continue Using Lenders' Cash Until Nov. 10
MERCED FALLS: Court Authorizes Aherton & Assoc. as Accountants
MERCED FALLS: Hires Walter & Wilhelm as Bankruptcy Counsel
MERUELO MADDUX: Former CEO, President Want $3MM in Unpaid Wages
MITRAN INC: Voluntary Chapter 11 Case Summary

MOHEGAN TRIBAL: Mario Kontomerkos Appointed as CFO
MSR RESORT: Settlement Deal on Club Membership Agreements OK'd
MSR RESORT: Miller Buckfire to Receive $2MM as Partial Settlement
NEBRASKA BOOK: Committee Can Hire Lowenstein Sandler as Co-Counsel
NEBRASKA BOOK: Creditors Panel Taps Mesirow Financial as Advisors

NEBRASKA BOOK: Can Hire Deloitte & Touche as Independent Auditors
NEBRASKA BOOK: Committee Can Hire Stevens & Lees as Co-Counsel
NEW HOPE: U.S. Trustee Wants Case Converted to Ch. 7 Liquidation
NEW JERSEY DEVILS: Missed Sept. 1 Loan Payment; Bankruptcy Looms
NEXITY FINANCIAL: U.S. Trustee Directed to Name Chapter 7 Trustee

NICHOLAS NARDUCCI: Seeks to Restructure Debts Under Bankruptcy
OPTI CANADA: Alberta Court Sanctions CCAA Master Plan
OTTILIO PROPERTIES: Has Until Sept. 16 to File Schedules
PALISADES MEDICAL: Moody's Affirms 'Ba2' Rating on $38.5-Mil. Debt
PARKWOOD HOSPITALITY: Case Summary & 20 Largest Unsec Creditors

PERKINS & MARIE: Files Schedules of Assets and Liabilities
PERKINS & MARIE: Lender Counsel Paul Hastings Changes Firm Name
PETER BORLO: Dist. Ct. Dismisses Suit v. Navy Federal Credit Union
PHILADELPHIA ORCHESTRA: Mediation on Union Matters Begins Sept. 15
PICHI'S INC: Chapter 11 Case Now Assigned to Hon. Edward A. Godoy

PICHI'S INC: Charles A. Cuprill Approved as Bankruptcy Counsel
PICHI'S INC: Can Hire Luis R. Carrasquillo as Financial Consultant
PICHI'S INC: Taps Manuel A. Nunez for Labor Relations Matters
PREMIER GOLF: Creditor Says Vance's Retention is Not Plan Related
PREMIER TRAILER: DIP Loan, Cash Collateral Hearing Set for Oct. 3

PREMIER TRAILER: Wants More Time to File Schedules
PRESIDENTIAL REALTY: Receives Delisting Notice From NYSE AMEX
PURSELL HOLDINGS: Lawson Bank Withdraws Motion for Stay Relief
QUANTUM FUEL: SPI to Buy 100% of Zephyr Shares for C$2.5 Million
QUANTUM FUEL: To Offer $75 Million of Securities

QUINCY MEDICAL: Can Access Cash Collateral Until November 15
RCG FOODS: Case Summary & 17 Largest Unsecured Creditors
RCLC INC: Plan Confirmed; Anticipates Sept. 15 Plan Effective Date
ROTECH HEALTHCARE: James Flynn Discloses 5% Equity Stake
ROUND TABLE: To Hire Cooper White for Franchise Litigation

ROUND TABLE: Taps Meyers Harrison as Financial Consultant
SAGEFIELD LLC: Voluntary Chapter 11 Case Summary
SALPARE BAY: Court Confirms Third Amended Chapter 11 Plan
SBARRO INC: Wins Judge Nod to Auction Assets
SEAVIEW PLACE: Court Approves Oxtal Real Estate as Appraiser

SEAVIEW PLACE: Wants Secured Status of Gulf Contractors' Claim
SGTB LODGINGS: Voluntary Chapter 11 Case Summary
SHAMROCK-SHAMROCK: Taps The Temples Company as Lease Broker
SHAMROCK-SHAMROCK INC: Kimberly Rezanka OK'd for State Litigation
SHAW GROUP: Moody's Says Rating Unaffected by Westinghouse Sale

SHELL KNOB: Voluntary Chapter 11 Case Summary
SHER INCORPORATED: Case Summary & 5 Largest Unsecured Creditors
SHILO INN: Withdraws Motions to Extend Exclusivity Periods
SHILOH INN: Court Continues Disclosures Hearing to Nov. 10
SILVERLAKE LLC: Voluntary Chapter 11 Case Summary

SINCLAIR BROADCAST: Inks Pact to Buy Four Points for $200 Million
SMART ONLINE: Sells Add'l $500,000 Convertible Note Due 2013
SOLAR THIN: Updates Status of Business with SEC
STILLWATER INVESTMENT: Case Summary & 6 Largest Unsec Creditors
SUGARLEAF TIMBER: Court Approves Brennan Manna as Main Counsel

SUGARLEAF TIMBER: Hires Broom Moody as Property Appraiser
SUNSHINE HOSPITALITY: Case Summary & 7 Largest Unsecured Creditors
SUSTAINABLE ENVIRONMENTAL: Amends WES Technology Purchase Pact
SWADENER INVESTMENT: Can Borrow $225,740 to Pay Ad Valorem Taxes
TEN X: Can Access Cole Taylor's Cash Collateral Until Sept. 30

TENET HEALTHCARE: BlackRock Discloses 11% Equity Stake
TENNVADA HOLDINGS: Case Summary & 5 Largest Unsecured Creditors
TFF INCORPORATED: Case Summary & 13 Largest Unsecured Creditors
THORNBURG MORTGAGE: Bank of America Asks Court to Dismiss Suit
TIEN SHAN: Case Summary & 5 Largest Unsecured Creditors

TITANIUM GROUP: Posts HK$644,900 Net Loss in Fiscal Q1
TRACY BROADCASTING: Dist. Ct. Affirms Ruling Against Bank's Lien
TRIPLE O: Voluntary Chapter 11 Case Summary
TUBE CITY: S&P Puts 'B+' Corp. Credit Rating on Watch Positive
UNI-PIXEL INC: Appoints Former Samsung Sr. VP Seong Shin as COO

US FIDELIS: Creditors Sue Mepco Over $57 Million Claim
USEC INC: To Hold Advisory Votes on Exec. Compensation Annually
VENTANA HILLS: Court Confirms Anglo-Backed Reorganization Plan
WASTE2ENERGY HOLDINGS: Executives Balk at Call for Trustee
WECK CORP: Court Confirms Liquidating Plan

WEST CORP: Files 7th Amendment to Form S-1 Registration Statement
WHITE BIRCH: S&P Withdraws 'D' Corporate at Company's Request
WOLF HOLLOW: S&P Withdraws 'CCC+' Rating on $260-Mil. Sr. Facility
WOLF MOUNTAIN: Disclosure Statement Hearing Set for Sept. 14
WYSONG & MILES: Bankr. Court Rules on Reedy Fork's Cleanup Claims

* Foley Adds 3 Bankruptcy Partners in San Diego

* Large Companies With Insolvent Balance Sheets


                            *********


4KIDS ENTERTAINMENT: PNC Financial No Longer 5% Shareholder
-----------------------------------------------------------
The PNC Financial Services Group, Inc., PNC Bancorp, Inc., and PNC
Bank, National Association disclose that as of Sept. 1, 2011, they
have ceased to beneficially own more than 5% of the common stock
of 4Kids Entertainment, Inc.

A copy of the Final Amendment to Schedule 13G is available at:

                       http://is.gd/kPe6bD

                    About 4Kids Entertainment

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

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

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

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


III TO I MARITIME: McGladrey & Pullen Raises Going Concern Doubt
----------------------------------------------------------------
III to I Maritime Partners Cayman I, L.P., filed on Aug. 31, 2011,
its annual report on Form 10-K for the fiscal year ended Dec. 31,
2010.

McGladrey & Pullen, LLP, in Dallas, Tex., expressed substantial
doubt about III to I Maritime Partners Cayman I's ability to
continue as a going concern.  The independent auditors noted that
the Partnership has experienced significant net losses as well as
negative cash flows since its inception in October 2006, and is in
default of its senior loan agreement.

During March 2011, the Partnership failed to make quarterly
payments due under its senior loan with Nord/LB, through which we
financed its anchor-handling tug supply ("AHTS") vessel
acquisitions.  This event was preceded by the political and
financial unrest in Egypt, which exacerbated the already tight
liquidity related to the issues encountered in 2010 discussed
above.  The situation in Egypt resulted in delayed charter
payments to three of the Company's AHTS special purpose entities
("SPVs") which are engaged in charters with companies with
substantial ties to Egypt.  In addition, one of the AHTS SPVs
owned by FLTC Fund I is also chartered to a company with ties to
Egypt.  The failure to make these quarterly payments constitutes
an event of default under the Senior Loan.

In addition to our Senior Loan with Nord/LB, the Partnership
entered into the Working Capital Facility, collectively with the
Senior Loan, the ("Nord/LB Loans").  Under the Senior Loan, due to
the Event of Default and the cross-default provision in the
Working Capital Facility, Nord/LB has the right to declare the
entire amount of the Nord/LB Loans to be immediately due and
payable by written notice to the Partnership.  As of the date of
issuance of these financial statements, Nord/LB has not notified
the Partnership of any intent to accelerate the amounts
outstanding under the Nord/LB Loans.

The Partnership reported a net loss of $51.0 million on
$63.5 million of time charter revenue for 2010, compared with a
net loss of $26.9 million on $19.4 million of revenue for 2009.

The Company's balance sheet at June 30, 2011, showed
$652.3 million in total assets, $631.2 million in total
liabilities, and  stockholders' equity of $21.1 million.

A copy of the Form 10-K is available at http://is.gd/97dAfk

III to I Maritime Partners Cayman I, L.P., with principal
executive offices in Dallas, Texas, owns and operates maritime
vessels primarily serving the international offshore energy
industry.  The Partnership's focus is on anchor-handling tug
supply ("AHTS") vessels which support offshore exploration,
development and production, but it also owns a non-controlling
interest in two multipurpose bulk carrier vessels.  The
Partnership is also authorized to engage in other activities if
III to I International Maritime Solutions Cayman Inc., a Cayman
Islands corporation, believes such activities will benefit the
Partnership's core business of shipping operations.


AE BIOFUELS: Keyes Marketing Pact Amended; CEO Has 3-Yr. Contract
-----------------------------------------------------------------
AE Advanced Fuels Keyes, Inc., a wholly owned subsidiary of AE
Biofuels, Inc., entered into a First Amendment to Ethanol
Marketing Agreement.  Under the terms of the Amendment and subject
to meeting certain conditions, the AE Project Company agreed to
extend the agreement to market ethanol for the AE Project Company
until Aug. 31, 2013, with an automatic one-year renewal
thereafter.  In addition, the Marketing Fee was reduced to eight-
tenths of one percent (0.8%) of the Monthly Gross Price, less
Monthly Expenses.

Meanwhile, effective Sept. 1, 2011, the Company entered into a
three-year Employment Agreement with Eric A. McAfee in connection
with his continuing responsibilities as Chief Executive Officer
providing compensation of $180,000 per year.  In addition,
Mr. McAfee is entitled to an annual cash bonus in an amount
determined by the Board of Directors based upon attainment of
certain performance milestones.  The Company will pay up to six
months of severance and health benefits in the event Mr. McAfee is
terminated without "cause".

A full-text copy of the First Amendment to Ethanol Marketing
Agreement is available for free at http://is.gd/xlhKFW

A full-text copy of the Executive Employment Agreement is
available for free at http://is.gd/xTTz22

                         About AE Biofuels

AE Biofuels, Inc. (OTC BB: AEBF) -- http://www.aebiofuels.com/--
is a biofuels company based in Cupertino, California, developing
sustainable solutions to address the world's renewable energy
needs.  The Company is commercializing its patent-pending next-
generation cellulosic ethanol technology that enables the
production of biofuels from both non-food and traditional
feedstocks.  Its wholly-owned Universal Biofuels subsidiary built
and operates a nameplate 50 million gallon per year biodiesel
production facility on the east coast of India.

The Company reported a net loss of $1.72 million on $1.59 million
of sales for the three months ended Sept. 30, 2010, compared with
a net loss of $3.78 million on $4.05 million of sales for the same
period a year earlier.

BDO Seidman, LLP, in San Jose, Calif., expressed substantial doubt
about AE Biofuels' ability to continue as a going concern,
following the Company's 2009 results.  The independent auditors
noted that the Company has incurred recurring losses, and has a
working capital deficit and total stockholders' deficit as of
December 31, 2009.

The Company's balance sheet at Sept. 30, 2010, showed
$20.23 million in total assets, $29.03 million in total
liabilities, all current, and a stockholders' deficit of
$8.80 million.


AEROGROW INTERNATIONAL: Posts $1.5-Mil. Net Loss in June 30 Qtr.
----------------------------------------------------------------
AeroGrow International, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $1.54 million on $1.48 million of
product sales for the three months ended June 30, 2011, compared
with a net loss of $1.73 million on $1.82 million of product sales
for the same period of 2010.

The Company's balance sheet at June 30, 2011, showed $5.05 million
in total assets, $8.37 million in total liabilities, and a
stockholders' deficit of $3.32 million.

As reported in the TCR on Aug. 30, 2011, Eide Bailly LLP, in
Fargo, North Dakota, expressed substantial doubt about AeroGrow
International's ability to continue as a going concern, following
the Company's results for the fiscal year ended March 31, 2011.
The independent auditors said the Company does not currently have
sufficient liquidity to meet its anticipated working capital, debt
service and other liquidity needs in the near term.

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

Boulder, Colo.-based AeroGrow International, Inc., is a developer,
marketer, direct-seller, and wholesaler of advanced indoor garden
systems designed for consumer use and priced to appeal to the
gardening, cooking, and healthy eating, and home and office dDor
markets.


AIG INC: Fitch Puts Rating on Three Class Debentures at Low-B
-------------------------------------------------------------
Fitch Ratings has assigned 'BBB' ratings to American International
Group, Inc.'s (AIG) $1.2 billion of 4.250% senior unsecured notes
due Sept. 15, 2014 and $800 million of 4.875% senior unsecured
notes due Sept. 15, 2016.  Fitch has also affirmed its existing
ratings on AIG and its subsidiaries.  The Rating Outlooks are
Stable.

The ratings assigned to the newly issued senior unsecured notes
are equivalent to Fitch's ratings on the company's currently
outstanding senior unsecured securities.  Fitch's expectation is
that proceeds from the issue will be used to pay maturing senior
unsecured debt that was issued for match-funded programs.

The company's match funded debt programs are designed so that
asset maturities should fund associated debt obligations as they
mature.  Fitch believes that AIG's refinancing of such matched
debt highlights a current mismatch between the company's matched
program assets and liabilities.  The company has been reducing its
matched funded spread-based lending activities and its overall
leverage.  However, Fitch's view is that matched-funded leverage
continues to negatively impact AIG's credit-quality.

At June 30, 2011, AIG's Total Financing and Commitments (TFC)
ratio, a broadly defined measure of leverage, had improved to 1.5
times (x) at June 30, 2011 compared to 2.3x at year-end 2010,
largely as a result of declines in the notional values of credit
default swap (CDS) protection written by the company's financial
products unit.  However this ratio is still high compared to those
of insurance company peers.

AIG's debt-to-capital ratio at June 30, 2011, excluding debt
issued by the company's International Lease Finance Corp. (ILFC)
subsidiary and including matched funding debt, was 34%, which is
relatively high for the company's current ratings.  Excluding the
impact of match-funded debt the ratio was 17%, which is well
within Fitch's guidelines for the company's current ratings.

Fitch estimates AIG's first half 2011 operating earnings-based
interest coverage from the company's core life and non-life
insurance operations at approximately 2.4x.  Fitch views this as
comparatively weak for the rating category and generally below
coverage ratios generated by AIG's peers.

Fitch believes that AIG's contingent liquidity risks, especially
those tied to its CDS exposure and financial leverage have
declined materially.  As a result, Fitch believes that AIG's
financial profile continues to improve and views it as evolving
into one that is comparable to more traditional insurance
organizations.

Fitch's expectation is that this evolution will enable AIG to
achieve a stand-alone Issuer Default Rating (IDR) that is
consistent with the company's current ratings as the U.S. Treasury
seeks to divest its majority ownership.  Currently, Fitch rates
the stand-alone IDR of AIG (without consideration for the U.S.
Treasury ownership) at 'BBB-'.

Fitch views the company's near-to-mid term challenges as improving
its operating earnings, especially in light of heavy catastrophe-
related losses that have reduced 2011 earning for AIG and for
other global non-life insurance organizations.

AIG recently filed regulatory documents aimed at enabling the
company to divest its majority ownership interest in ILFC.  Fitch
views this favorably because it would further simplify AIG's
operations and organizational structure and increase the company's
ability to focus on its insurance operations.

Key rating drivers that could produce revisions in Rating Outlooks
to Positive or lead to upgrades in AIG's stand-alone Issuer
Default Rating (IDR) or its subsidiaries' Insurer Financial
Strength (IFS) ratings include:

  -- Enhanced underwriting profitability and reserve stability of
     the company's non-life insurance subsidiaries;

  -- Further stabilization of sales trends and profitability of
     the company's domestic life insurance subsidiaries;

  -- Material increases in risk-based capital ratios at either the
     domestic life insurance or the non-life insurance
     subsidiaries;

  -- Further declines in outstanding notional values of AIG
     Financial Products Corp.'s (AIGFP) CDS portfolio without
     significant liquidity or capital drains.  Such a decline
     would most directly affect Fitch's view of AIG's stand-alone
     IDR;

  -- Further transition of AIG's capital structure and leverage to
     that of a more traditional insurance holding company
     resulting in a narrowing of the notching between insurance
     company ratings and holding company ratings.  Under such a
     scenario as government support declines, per Fitch's notching
     criteria, the IDR of the holding company would migrate to one
     notch higher than the senior unsecured debt rating.

Key rating drivers that could produce a revision in the Rating
Outlook to Negative or lead to downgrades in AIG's stand-alone IDR
or its subsidiaries' IFS rating include:

  -- Declines in underwriting profitability and heightened reserve
     volatility of the company's non-life insurance subsidiaries
     that Fitch views as inconsistent with that of comparably-
     rated peers and industry trends;

  -- Deterioration in the company's domestic life subsidiaries'
     sales or profitability trends;

  -- Material declines in risk-based capital ratios at either the
     domestic life insurance or the non-life insurance
     subsidiaries;

  -- Evidence that the company's CDS portfolio run-off is not
     proceeding as currently envisioned;

  -- A deterioration in Fitch's view of the implied rating support
     provided by the U.S. Treasury's interests in AIG that is not
     fully offset from a rating perspective by improvements in
     AIG's stand-alone financial profile.

  -- AIG's inability to further transition its capital structure
     and leverage to those of a more traditional insurance holding
     company could result in a widening of the notching between
     the insurance subsidiary ratings and the holding company
     ratings.  Under such a scenario as government support
     declines, per Fitch's notching criteria AIG's senior
     unsecured debt ratings would migrate to one notch lower than
     the holding company IDR rating.

Fitch has assigned the following ratings:

American International Group, Inc.

  -- 4.250% senior unsecured notes due Sept. 15, 2014 'BBB';
  -- 4.875% senior unsecured notes due Sept. 15, 2016 'BBB'.

Fitch has affirmed the following ratings:

Chartis Property Casualty Company
American Home Assurance Company
Chartis Casualty Company
Commerce and Industry Insurance Company
Granite State Insurance Company
Illinois National Insurance Co.
National Union Fire Insurance Company of Pittsburgh, PA;
New Hampshire Insurance Company
The Insurance Company of the State of Pennsylvania;
Chartis Select Insurance Company
Landmark Insurance Company
Lexington Insurance Company
AIU Insurance Company
Chartis Specialty Insurance Company
Chartis MEMSA Insurance Company
Chartis Insurance UK Ltd.
Chartis Overseas, Limited.
AGC Life Insurance Company
Western National Life Insurance Company
SunAmerica Annuity and Life Assurance Company
American General Life Insurance Company of Delaware
American General Life and Accident Insurance Company
American General Life Insurance Company
First SunAmerica Life Insurance Company
SunAmerica Life Insurance Company
The United States Life Insurance Company in the City of New York
The Variable Annuity Life Insurance Company

  -- IFS at 'A'.

ASIF II Program
ASIF III Program
ASIF Global Financing

  -- Program ratings at 'A'.

American International Group, Inc.

  -- Long-term IDR at 'BBB';
  -- Senior debt at 'BBB';
  -- 6.25% series A-1 junior subordinated debentures due March 15,
     2087 at 'BB-';
  -- 5.75% series A-2 junior subordinated debentures due March 15,
     2067 at 'BB-';
  -- 4.875% series A-3 junior subordinated debentures due March
     15, 2067 at 'BB-';
  -- 6.45% series A-4 junior subordinated debentures due June 15,
     2077 at 'BB-';
  -- 7.700% series A-5 junior subordinated debentures due Dec. 18,
     2062 at 'BB-';
  -- 8.175% series A-6 junior subordinated debentures due May 15,
     2058 at 'BB-';
  -- 8.00% series A-7 junior subordinated debentures due May 22,
     2038 at 'BB-';
  -- 8.625% series A-8 junior subordinated debentures due May 22,
     2068 at 'BB-';
  -- 5.67% series B-1 debentures due Feb. 15, 2041 at 'BB-'
  -- 5.82% series B-2 debentures due May 1, 2041 at 'BB-';
  -- 5.89% series B-3 debentures due Aug. 1, 2041 at 'BB-.

AIG International, Inc.

  -- Long-term IDR at 'BBB';
  -- Senior debt at 'BBB';
  -- 5.60% senior unsecured notes due July 31, 2097 at 'BBB'.

AIG Life Holdings (US), Inc.

  -- Long-term IDR at 'BBB';
  -- 7.50% senior unsecured notes due July 15, 2025 at 'BBB';
  -- 6.625% senior unsecured notes due Feb. 15, 2029 at 'BBB'.

American General Capital II

  -- 8.50% preferred securities due July 1, 2030 at 'BB-'.

American General Institutional Capital A

  -- 7.57% capital securities due Dec. 1, 2045 at 'BB-'.

American General Institutional Capital B

  -- 8.125% capital securities due March 15, 2046 at 'BB-'.

The Rating Outlooks are Stable.


AIRPLAY DIRECT: Involuntary Chapter 11 Case Summary
---------------------------------------------------
Alleged Debtor: AirPlay Direct, LLC
                231 Green Harbor Road, Suite #136
                Old Hickory, TN 37138

Case Number: 11-08916

Type of Business: Music Promotion

Involuntary Chapter 11 Petition Date: September 6, 2011

Court: Middle District of Tennessee (Nashville)

Judge: George C. Paine II

Petitioner's Counsel: Robert J. Welhoelter, Esq.
                      320 31st Avenue North, Suite A
                      Nashville, TN 37203
                      Tel: (615) 760-5871
                      Fax: (615) 760-5873
                      E-mail: rjwelho@gmail.com

AirPlay Direct's petitioners:

Petitioner               Nature of Claim        Claim Amount
----------               ---------------        ------------
Clifford Lee Doyal       unpaid compensation    $73,093
2338 Ridgeland Dr
Nashville, TN 37214

Scott Welch              compensation & rent    $111,465
1515 Harding Place
Nashville, TN 37215

Raleigh Squires          unpaid compensation    $24,250
2001 Anderson Road
V114
Nashville, TN 37217

Sussman & Associates,PC  unpaid invoices        $27,721
1222 16th Avenue South
3rd Floor
Nashville, TN 37212


AMBASSADORS INTERNATIONAL: Plan Disclosures Hearing on Sept. 27
---------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware will
convene a hearing to consider approval of the Disclosure Statement
explaining the Chapter 11 Plan of Liquidation of Ambassadors
International, Inc., and its debtor affiliates on September 27,
2011, at 10:00 a.m.

Objections to the Disclosure Statement are due on or before
September 20.

The Plan is premised on the substantive consolidation of the
estates with respect to the treatment of all claims solely for
purposes of voting and distribution.  A litigation trust will be
created on the effective date.

Holders of Other Secured Claims will recover 100% of their claims
and are deemed to accept the Plan.  Holders of Priority Claims,
Intercompany Claims and Interests are deemed to reject the Plan.

A full-text copy of the Disclosure Statement is available for free
at http://ResearchArchives.com/t/s?76e1

                About Ambassadors International

Headquarters in Seattle, Washington, Ambassadors International,
Inc. (NASDAQ: AMIE) -- http://www.ambassadors.com/-- operates
Windstar Cruises, a three-ship fleet of luxury yachts that explore
the hidden harbors and secluded coves of the world's most sought-
after destinations.  Carrying 148 to 312 guests, the luxurious
ships of Windstar cruise to nearly 50 nations, calling at 100
ports throughout Europe, the Caribbean and the Americas.

Ambassadors International Inc. and 11 affiliates sought Chapter 11
bankruptcy protection (Bankr. D. Del. Lead Case No. 11-11002) on
April 1, 2011.

Kristopher M. Hansen, Esq.; Sayan Bhattacharyya, Esq.; Marianne
Mortimer, Esq.; and Matthew G. Garofalo, Esq., at Stroock &
Stroock & Lavan LLP, serve as the Debtors' bankruptcy counsel.
Imperial Capital, LLC, is the Debtors' financial advisor.  Phase
Eleven Consultants, LLC, is the Debtors' claims and notice agent.
The Debtors tapped Bifferato Gentilotti LLC as Delaware counsel,
and Richards, Layton & Finger as bankruptcy co-counsel.

The Official Committee of Unsecured Creditors tapped Kelley
Drye & Warren LLP as its counsel, and Lowenstein Sandler PC as its
co-counsel.

The Debtors disclosed $86.4 million in total assets and
$87.3 million in total debts as of Dec. 31, 2010.


ATL 2130: Case Summary & 8 Largest Unsecured Creditors
------------------------------------------------------
Debtor: ATL 2130, LP
        400 Arthur Godfrey Road, Suite 200
        Miami Beach, FL 33140

Bankruptcy Case No.: 11-76017

Chapter 11 Petition Date: September 6, 2011

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

Debtor's Counsel: Herbert C. Broadfoot, II, Esq.
                  RAGSDALE, BEALS, SEIGLER, ET AL.
                  2400 International Tower
                  229 Peachtree Street, N.E.
                  Atlanta, GA 30303
                  Tel: (404) 588-0500
                  Fax: (404) 523-6714
                  E-mail: broadfoot@rbspg.com

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

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

A list of the Company's eight largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ganb11-76017.pdf

The petition was signed by Eric D. Sheppard, limited partner.


BAKERSFIELD ASCENT: Case Summary & 16 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Bakersfield Ascent SA I, LLC
        11612 FM 2244, Suite 1-140
        Austin, TX 78738

Bankruptcy Case No.: 11-53095

Chapter 11 Petition Date: September 2, 2011

Court: United States Bankruptcy Court
       Western District of Texas (San Antonio)

Judge: Leif M. Clark

Debtor's Counsel: James Samuel Wilkins, Esq.
                  WILLIS & WILKINS, LLP
                  100 W Houston St, Suite 1275
                  San Antonio, TX 78205
                  Tel: (210) 271-9212
                  Fax: (210) 271-9389
                  E-mail: jwilkins@stic.net

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/txwb11-53095.pdf

The petition was signed by Michael S. Walker, managing member


BANK OF AMERICA: To Cut $5BB in Annual Costs & Slash 30T Jobs
-------------------------------------------------------------
Bank of America Corp. will cut $5 billion in annual costs by the
end of 2013 and slash 30,000 jobs out of its consumer-oriented
businesses.

David Benoit, writing for Dow Jones Newswires, reports that Chief
Executive Brian Moynihan, speaking at the Barclays Capital
financial conference in New York, reiterated promises to trim
excess expenses and businesses to reshape the nation's biggest
bank by assets and put behind it a series of missteps. Mr.
Moynihan has sold off businesses and investments and is now
working on the final details of what has been dubbed "Project New
BAC."

According to Dow Jones, Mr. Moynihan said Monday that the planning
for the first phase of Project New BAC has been completed. The
bank will take the $5 billion, or about 18%, in annual expenses
out of $27 billion in consumer and small banking expenses, card
costs, global technology and other areas.

Steve Gelsi at MarketWatch relates Phase II is scheduled to begin
in October and continue through March, 2012 to address business
segments not yet covered, the bank said.


BEAR ISLAND: Plan Outline Hearing Scheduled for Oct. 5
------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Virginia
will convene a hearing on Oct. 5, 2011, at 2:00 p.m., to consider
adequacy of the disclosure statement explaining Bear Island Paper
Company, L.L.C.'s proposed plan of reorganization dated Aug. 24,
2011.

As reported in the Troubled Company Reporter on Aug. 31, 2011, the
Plan provides for the termination of the Debtor's business
operations and the liquidation of its assets.  The Plan provides
for the payment in full to holders of Allowed Administrative
Claims and Allowed Priority Claims.  The Plan further provides for
a recovery to holders of Allowed General Unsecured Claims.

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

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

                 About White Birch & Bear Island

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

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

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

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


BHI EXCHANGE: S&P Gives 'B' Corp. Credit Rating; Outlook Stable
---------------------------------------------------------------
Standard & Poor's Rating Services assigned its 'B' corporate
credit rating to U.S. quick-service restaurant operator and
franchisor BHI Exchange Inc. (BHI). The outlook is stable.

"At the same time, we assigned our 'B' issue-level rating to the
company's first-lien secured credit facility, which consists of a
$190 million six-year term loan and a $25 million five-year
revolving credit facility. The facility is co-issued by its
subsidiary Bojangles' Restaurants Inc. The recovery rating
is '3', indicating our expectation of meaningful (50% to 70%)
recovery for lenders in the event of a payment default. Private-
equity firm Advent International intends to use the proceeds from
the term loan, along with preferred equity contribution, to
acquire BHI," S&P related.

"The ratings reflect our assumption that the credit metrics will
remain in line with the ratings in the near term," said Standard &
Poor's credit analyst Andy Sookram, "as our performance
expectations and debt reduction with excess cash flows will negate
incremental payment-in-kind preferred stock that we treat as
debt." "We consider BHI to have a highly leveraged financial risk
profile based on its high debt and the resulting thin cash flow
coverage. We view the company's business risk profile as weak
because of intense competition in the quick-service restaurant
sector, significant geographic concentration in North Carolina and
South Carolina, and exposure to volatile commodity costs."


BLUE HERON: Trustee Hires CB Richard Ellis to Market 23-Acre Site
-----------------------------------------------------------------
Wendy Culverwell at Portland Business Journal reports that a
trustee overseeing the liquidation of Blue Heron Paper Co. hired
CB Richard Ellis to market the 23-acre site to would-be buyers.

Along with another Blue Heron site in neighboring West Linn, the
properties could generate about $6.4 million in revenue for the
Blue Heron, the Business Journal notes.

For more than 100 years, the defunct Blue Heron paper mill served
as a five-block barrier between Oregon City and the Willamette
River.  The city now has a unique opportunity to reclaim that
connection, the report notes.

The deadline to submit bids is on Oct. 19, 2011.

                        About Blue Heron

Oregon City, Oregon-based Blue Heron Paper Company --
http://www.blueheronpaper.com/-- produces newsprint, and high
bright and heavyweight groundwood specialty printing papers.

Blue Heron filed for Chapter 11 protection (Bankr. D. Ore. Case
No. 09-40921) on Dec. 31, 2009.  David B. Levant, Esq., at Stoel
Rives LLP, in Portland, Oregon, serves as bankruptcy counsel to
the Debtor.  Attorneys at Barran Liebman LLP have been tapped as
labor and employment counsel.  The Debtor also hired Vanden Bos &
Chapman, LLP, as special counsel.  The Company estimated
$10 million to $50 million in assets and debts as of the Chapter
11 filing.


BROADWAY/WORKMAN LLC: Case Summary & Largest Unsecured Creditor
---------------------------------------------------------------
Debtor: Broadway/Workman, LLC
        2625 N. Broadway
        Los Angeles, CA 90031

Bankruptcy Case No.: 11-47977

Chapter 11 Petition Date: September 6, 2011

Court: United States Bankruptcy Court
       Central District Of California (Los Angeles)

Judge: Richard M. Neiter

Debtor's Counsel: David B. Golubchik, Esq.
                  LEVENE NEALE BENDER RANKIN & BRILL LLP
                  10250 Constellation Blvd., Suite 1700
                  Los Angeles, CA 90067
                  Tel: (310) 229-1234
                  E-mail: dbg@lnbrb.com

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

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

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

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Travelers Insurance Co    Insurance Contract     $611
CL Remmitance Center
PO Box 660317
Dallas, TX 75266-0317

The petition was signed by David M. Frank, authorized agent.

Affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Covina Palms Center, LLC               11-44683   08/15/11
Star News Building L.P.                11-28697   04/29/11
York Square, LLC                       11-15554   02/09/11


BUCKTOWN STATION: May Use PNC Collateral to Pay 50% of Lawyer Fees
------------------------------------------------------------------
Bucktown Station, LLC, won permission to pay one-half of the
requested fees of Porter Law Network ($29,737.50), Brookweiner
($26,370.50), and Berenz ($17,600), out of the cash collateral
securing obligations to PNC Bank National Association, conditional
on and provided the Debtor amends its plan of reorganization to
provide clarity and changes to afford necessary additional
protection to PNC.  PNC objected to the request, arguing that
Bucktown Station's condominium project declined in value after PNC
loaned funds to the Debtor in 2006.

In granting the Debtor's request, Bankruptcy Judge Jack B.
Schmetterer noted that the Debtor's cash flow from good tenants is
stable and the Station consists of quality property not shown to
be diminishing in value.  The cash on hand protecting debt has
improved since the Chapter 11 bankruptcy case was filed.  The
Debtor is asking the 50% of the fees requested be paid now.  Due
to rental income generated, the payments will not diminish cash on
hand below the amount held when the case was filed and these
amounts will be replenished out of rents collected.

The Bankruptcy Court is scheduled to consider the fee applications
for Oct. 4, 2011, at 11:00 a.m.

A copy of Judge Schmetterer's Sept. 1 Memorandum Opinion is
available at http://is.gd/MtQsmofrom Leagle.com.

As reported by the Troubled Company Reporter on Aug. 22, 2011,
Judge Schmetterer tossed a request by PNC to modify the automatic
stay so it may proceed with a foreclosure action on the
condominium building.  Although the Debtor lacks equity in its
property, the judge said the Debtor has proposed a plan showing a
reasonable possibility of a successful reorganization if the
market improves and prospective customers come back into the home
market over three years.  However, Judge Schmetterer conditioned
the denial of the bank's request on the Debtor proposing a Plan
that provides for case dismissal should specified benchmarks on
tunes and amounts of sales at reasonable intervals not be met.

The Debtor's proposed Plan provides for a staged sell off of the
condominiums over a three-year period.  The Debtor assumes that it
will sell the residential condominiums for an average of $475,000
each and the retail condominium at the very end of the Plan period
for $825,000.  Under that Plan, the net sale proceeds will be used
to repay creditors.  Secured creditors and unsecured creditors
with claims under $4,000 are each to receive 100% of their allowed
claims, while unsecured creditors with claims over $4,000 are each
to receive 3% of their allowed claims.  The Debtor intends to
challenge the amounts claimed by some mechanics lien creditors, so
only their claims as expected to be allowed after that process are
included in the Debtor's projections.

The Debtor and PNC have stipulated that the claims secured by the
Property total $5,771,902.  However, the present value of the
Property is only in a range between $4,030,000 and $4,690,000.

Should the Debtor's Plan succeed and the proposed sales take
place, the Debtor will have generated $7,408,225 in revenue.  The
Debtor projects that this will be enough to repay its creditors
according to the Plan, to pay necessary expenses, and to maintain
the Property throughout the Plan period.

                      About Bucktown Station

Bucktown Station is a triangle-shaped development at Western and
Winnebago avenues has 15 two-and-three bedroom units, 21 indoor
parking spaces and 3,000-square-feet of retail space.

Bucktown Station, LLC, filed for Chapter 11 protection (Bankr.
N.D. Ill. Case No. 11-02004) in Chicago on Jan. 19, 2011.  Karen
J. Porter, Esq., at Porter Law Firm, in Chicago, represents the
Debtor.  The Debtor estimated assets of $1 million to $10 million
and debts of up to $50,000 in its Chapter 11 petition.  The
petition was signed by Bruce A. Fogelson, managing member.

Counsel for secured lender PNC Bank National Association are:

          James M. Crowley, Esq.
          Francis J. Pendergast, III, Esq.
          John F. Sullivan, Esq.
          Philip J. Berenz, Esq.
          CROWLEY & LAMB, P.C.
          350 N. LaSalle Street
          Chicago, IL 60610
          Tel: 312.670.6900
          Fax: 312.467.5926
          E-mail: jcrowley@crowleylamb.com
                  fpendergast@crowleylamb.com
                  jsullivan@crowleylamb.com


CABINET AND BATH: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Cabinet and Bath Supply Inc.
        882 W. Tracker Road
        Nixa, MO 65714

Bankruptcy Case No.: 11-61950

Chapter 11 Petition Date: September 6, 2011

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

Judge: Arthur B. Federman

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

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

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/mowb11-61950.pdf

The petition was signed by David Paris, president.


CAPITOL CITY: Eight Directors Elected at Annual Meeting
-------------------------------------------------------
Capitol City Bancshares, Inc., has determined that its original
8-K filed on Aug. 16, 2011, incorrectly stated that certain
persons were elected to the board of directors at the Company's
Annual Meeting.  The Company filed an amendment to the Current
Report to correct the Company's election voting results for the
board of directors.

Security holders elected these persons as directors of the
Company:

   (1) George G. Andrews;
   (2) Charles W. Harrison;
   (3) Roy W. Sweat;
   (4) William Thomas;
   (5) Cordy T. Vivian;
   (6) Shelby R. Wilkes;
   (7) Tarlee W. Brown; and
   (8) Pratape Singh.

Marian S. Jordan and John T. Harper were nominated but did not
receive a majority of the votes cast and were not elected as
directors of the Company.

                        About Capitol City

Atlanta, Ga.-based Capitol City Bancshares, Inc., was incorporated
under the laws of the State of Georgia on April 14, 1998, for the
purpose of serving as a bank holding company for Capitol City Bank
and Trust Company.  The Bank operates a full-service banking
business and engages in a broad range of commercial banking
activities, including accepting customary types of demand and
timed deposits, making individual, consumer, commercial, and
installment loans, money transfers, safe deposit services, and
making investments in U.S. government and municipal securities.
The Bank serves the residents of the City of Atlanta and Fulton,
DeKalb, Chatham, Richmond and Dougherty Counties.

The Company's balance sheet at June 30, 2011, showed
$302.90 million in total assets, $292.57 million in total
liabilities, and $10.32 million total stockholders' equity.

As reported in TCR on April 26, 2011, Nichols, Cauley &
Associates, LLC, in Atlanta, Georgia, expressed substantial doubt
about Capitol City Bancshares' ability to continue as a going
concern, following the Company's 2010 results.  The independent
auditors noted that the Company the Company is operating under
regulatory orders to, among other items, increase capital and
maintain certain levels of minimum capital.  "As of Dec. 31, 2010,
the Company was not in compliance with these capital requirements.
In addition to its deteriorating capital position, the Company has
suffered significant losses related to nonperforming assets, has
experienced declining levels of liquid assets, and has significant
maturities of liabilities within the next twelve months."


CAROLINA OIL: Case Summary & 19 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Carolina Oil & Gas Holdings, LLC
        1055 Stone House Rd.
        Chapin, SC 29036

Bankruptcy Case No.: 11-60083

Chapter 11 Petition Date: September 5, 2011

Court: United States Bankruptcy Court
       Southern District of Texas (Victoria)

Judge: Jeff Bohm

Debtor's Counsel: Courtney Smart Lauer, Esq.
                  GORDON ARATA MCCOLLAM DUPLANTIS & EAGAN
                  1980 Post Oak Blvd., Suite 1800
                  Houston, Tx 77056
                  Tel: (713) 543-3180
                  Fax: (713) 333-5501
                  E-mail: clauer@gordonarata.com

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

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

A list of the Company's 19 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/txsb11-60083.pdf

The petition was signed by Christopher Del Rossi, chief executive
officer.


CATHOLIC CHURCH: Insurers Ordered to Pay Share of Wilm. Settlement
------------------------------------------------------------------
Philly.com, citing the Associated Press, reports that Judge
Christopher Sontchi ordered insurance companies to pay their share
of a settlement with priest sex-abuse victims that is the
foundation of the Roman Catholic Diocese of Wilmington's
reorganization plan.

According to the report, the insurers had balked at contributing
$15.4 million toward the $77 million settlement with about 150
abuse survivors until appeals filed by two priests identified by
the diocese as child abusers are resolved.  Judge Sontchi replied
that he was "flabbergasted" that the insurers would threaten to
scuttle the agreement because of a "technicality."

The report notes the priests are appealing court-ordered
restrictions prohibiting the diocese from using its assets to make
any future payments to priests identified by the diocese as
pedophiles.

Under the reorganization plan, the payments are due Sept. 26.

                  About the Diocese of Wilmington

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

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

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


CB HOLDINGS: Wants Court to Extend Plan Filing Deadline to Dec. 12
------------------------------------------------------------------
CB Holding Corp. and its debtor-affiliates ask the U.S. Bankruptcy
Court for the District of Delaware to further extend their
exclusive periods to file a Chapter 11 plan of reorganization
until Dec. 12, 2011, and solicit acceptances of that plan until
Feb. 8, 2012.

A hearing is set for Oct. 18, 2011, at 2:00 p.m. (EDT), to
consider the Debtors' request for an extension.  Objections, if
any, must be filed not later than 4:00 p.m. on Oct. 4, 2011.

According to the Debtors, they have concentrated their efforts on
the sales of their three restaurant brands and related assets.
The Debtors and their professionals also devoted significant time
and energy to:

   i) close any remaining restaurant location sales,

  ii) negotiate, draft, and file the Plan and Disclosure Statement
      and related negotiations among interested parties,

iii) attend to various operational and administrative matters
      that have arisen during the Chapter 11 cases,

  iv) manage the Debtors' liquidity and other financing issues,
      and

   v) further the wind-down of the Chapter 11 cases.

The Debtors assures the Court that the extension of the exclusive
periods will protect their ability to obtain creditor approval of
the Plan, without the deterioration and disruption of their
businesses and inherent confusion and inefficiencies that could
result if competing plans were filed.

                         About CB Holding

New York-based CB Holding Corp. operated 20 Charlie Brown's
Steakhouse, 12 Bugaboo Creek Steak House, and seven The Office
Beer Bar and Grill restaurants when it filed for bankruptcy
protection.  The Company closed 47 locations before filing for
Chapter 11.

CB Holding sold off its The Office restaurant chain and 12 Bugaboo
Creek stores in separate auctions.  Villa Enterprises Ltd. won the
bidding for The Office chain with its $4.68 million.  RRGK LLC
acquired the 12 Bugaboo Creek stores for $10.05 million, more than
tripling the $3.175 million first bid from an affiliate of
Landry's Restaurants Inc.

CB Holding and its affiliates filed for Chapter 11 bankruptcy
protection (Bankr. D. Del. Case No. 10-13683) on Nov. 17, 2010.

Joel H. Leviton, Esq., Stephen J. Gordon, Esq., Richard A.
Stieglitz Jr., Esq., and Maya Peleg, Esq., at Cahill Gordon &
Reindel LLP, in New York; and Mark D. Collins, Esq., Christopher
M. Samis, Esq., and Tyler D. Semmelman, Esq., at Richards, Layton
& Finger, P.A., in Wilmington, Delaware, assist the Debtors in
their restructuring effort.  The Garden City Group, Inc., is the
Debtors' notice, claims and solicitation agent.

Jeffrey N. Pomerantz, Esq., at Pachulski Stang Ziehl & Jones LLP,
in Los Angeles; and Bradford J. Sandler, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, represent the
Official Committee of Unsecured Creditors.  CB Holding estimated
its assets at $100 million to $500 million and debts at
$50 million to $100 million.


CB HOLDING: Court Sets Oct. 10, 2011 Claims Bar Date
----------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware set
Oct. 10, 2011, at 4:00 p.m. (prevailing Eastern Time) as the
deadline for creditors of CB Holding Corp. and its debtor-
affiliates to file proofs of claim.

Governmental units also have until Oct. 10, 2011, at 4:00 p.m.
(prevailing Eastern Time) to file their claims.

All claims against the Debtor must be submitted to:

a) If sent by mail

   GCG, Inc
   Attn: CB Holding Corp., Claims
   Processing
   P.O. Box 9587
   Dublin, OH 43017-4505

b) If sent by messenger or overnight courier

   GCG, Inc
   Attn: CB Holding Corp., Claims Processing
   P.O. Box 9587
   Dublin, OH 43017-4505

   GCG, Inc.
   Attn: CB Holding Corp., Claims
   Processing
   5151 Blazer Parkway, Suite A
   Dublin, OH 43017-4887

                         About CB Holding

New York-based CB Holding Corp. operated 20 Charlie Brown's
Steakhouse, 12 Bugaboo Creek Steak House, and seven The Office
Beer Bar and Grill restaurants when it filed for bankruptcy
protection.  The Company closed 47 locations before filing for
Chapter 11.

CB Holding sold off its The Office restaurant chain and 12 Bugaboo
Creek stores in separate auctions.  Villa Enterprises Ltd. won the
bidding for The Office chain with its $4.68 million.  RRGK LLC
acquired the 12 Bugaboo Creek stores for $10.05 million, more than
tripling the $3.175 million first bid from an affiliate of
Landry's Restaurants Inc.

CB Holding and its affiliates filed for Chapter 11 bankruptcy
protection (Bankr. D. Del. Case No. 10-13683) on Nov. 17, 2010.

Joel H. Leviton, Esq., Stephen J. Gordon, Esq., Richard A.
Stieglitz Jr., Esq., and Maya Peleg, Esq., at Cahill Gordon &
Reindel LLP, in New York; and Mark D. Collins, Esq., Christopher
M. Samis, Esq., and Tyler D. Semmelman, Esq., at Richards, Layton
& Finger, P.A., in Wilmington, Delaware, assist the Debtors in
their restructuring effort.  The Garden City Group, Inc., is the
Debtors' notice, claims and solicitation agent.

Jeffrey N. Pomerantz, Esq., at Pachulski Stang Ziehl & Jones LLP,
in Los Angeles; and Bradford J. Sandler, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, represent the
Official Committee of Unsecured Creditors.  CB Holding estimated
its assets at $100 million to $500 million and debts at
$50 million to $100 million.


CITIZENS DEVELOPMENT: Creditors Must File Claims by Sept. 30
------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of California
set Sept. 30, 2011, as the deadline for creditors of Citizens
Development Corp. to file proofs of claim and interests, request
for payment of administrative expense priority claims incurred
until July 31, 2011.

                 About Citizens Development Corp.

San Marcos, California-based Citizens Development Corp., owns and
operates the Lake San Marcos Resort and Country Club located in
San Diego County.  The Company filed a voluntary petition for
relief under Chapter 11 (Bankr. S.D. Calif. Case No. 10-15142) on
August 26, 2010.  Ron Bender, Esq., at Levene, Neale, Bender, Yoo
& Brill LLP, represents the Debtor.  The Debtor estimated its
assets and debts at $10 million to $50 million.

Chapter 11 petitions were also filed by affiliates LSM Executive
Course, LLC (Bankr. S.D. Calif. Case No. 10-07480), and LSM Hotel,
LLC (Bankr. S.D. Calif. Case No. 10-13024).


CLAUDIO OSORIO: Auction for Miami Beach Mansion Slated for Nov. 3
-----------------------------------------------------------------
Paul Brinkmann at the South Florida Business Journal reports that
the auction of Claudio Osorio's swanky mansion, at 15 Star Island
Drive, is tentatively set for Nov. 3, 2011.  The actual date will
be confirmed in a Sept. 14, 2011, bankruptcy court hearing.

The report says recent sales of high-end homes in Miami Beach
suggest there is renewed competition for such property, according
to broker Jill Eber, who is representing Osorio in the sale.

Mr. Osorio said he is being forced to sell the mansion in an
attempt to maintain control over his estate in Chapter 11
bankruptcy.

                About InnoVida and Mr. Osorio

Receiver Mark S. Meland, at Meland Russin & Budwick, PA, filed a
Chapter 11 petition for InnoVida Holdings, LLC, fdba COEG, LLC
(Bankr. S.D. Fla. Case No. 11-17702) on March 24, 2011.  Separate
Chapter 11 petitions were also filed for these affiliates:
InnoVida MRD, LLC (Case No. 11-17704), InnoVida Services, Inc.
(Case No. 11-17705), and InnoVida Southeast, LLC (Case No. 11-
17706).  Peter D. Russin, Esq., at Meland Russin & Budwick, P.A.,
serves as bankruptcy counsel.  InnoVida Holdings has under $50,000
in assets and $10 million to $50 million in debts, according to
the petition.

Founder Claudio Eleazar and Amarilis Osorio filed a separate
Chapter 11 petition (Bankr. S.D. Fla. Case No. 11-17075) on
March 17, 2011.  Mr. Osorios is being accused of fraud and
mismanagement.

Bankruptcy Judge Robert A. Mark in Miami authorized the
appointment of Mark S. Meland as trustee for InnoVida.
Mr. Meland, who had been serving as a receiver for the business in
the wake of the allegations against Mr. Osorio, was the one who
ushered InnoVida into bankruptcy.

According to DBR, the ruling paved the way for the federal
bankruptcy watchdog assigned to the case to place Mark S. Meland
in the role.  Mr. Meland, who had been serving as a receiver for
the business in the wake of the allegations against Mr. Osorio,
was the one who ushered InnoVida into bankruptcy on March 24.


COMPOSITE TECHNOLOGY: Has Deal With Committee for Weiss as CRO
--------------------------------------------------------------
Composite Technology Corporation, et al., entered into a
stipulation with the Official Committee of Unsecured Creditors to
appoint Brian Weiss as the Debtors' chief restructuring officer.

The Debtors clarify that Mr. Weiss will serve as part of
management and will not supplant the board of directors.

On Aug. 11, 2011, the Court authorized the sale of substantially
all of the Debtors' assets.  The sale was closed on Aug. 15, 2011.

The Debtors, however, note that there are still matters that need
to be addressed, including:

   -- evaluating and pursuing potential actions against third
      parties;

   -- collecting from the DMSE escrow account;

   -- evaluating claims;

   -- determining lien rights against various assets;

   -- wrapping up SEC matters; and

   -- preparing a plan.

The Debtors assert that they need Mr. Weiss to efficiently
represent the estate in the course of wind down.

                    About Composite Technology

Headquartered in Irvine, California, Composite Technology
Corporation - http://www.compositetechcorp.com/-- develops,
produces, markets and sells energy efficient and renewable energy
products for the electrical utility industry.  As of March 31,
2011, the Company has one business segment: CTC Cable Corporation.

CTC Cable produces and sells ACCC(R) conductor products and
related ACCC(R) hardware products.  ACCC(R) conductor has been
sold commercially since 2005 and is currently marketed worldwide
to electrical utilities, transmission companies and transmission
design/engineering firms.

Composite Technology filed for Chapter 11 bankruptcy (Bankr. C.D.
Calif. Case No. 11-15058) on April 10, 2011, with Judge Mark S.
Wallace presiding over the case.  The Debtor's bankruptcy case was
reassigned to Judge Scott C. Clarkson on April 13, 2011.  BCC
Advisory Services LLC, BCC Ho1dco LLC's FINRA registered
Broker/Dealer, serves as investment banker to provide exclusive
equity financing services and debt financing services.  Composite
Technology disclosed $5,855,670 in assets and $12,395,916 in
liabilities as of the Chapter 11 filing.

CTC Cable Corporation (Bankr. C.D. Calif. Case No. 11-15059) and
Stribog, Inc. (Bankr. C.D. Calif. Case No. 11-15065) also filed
for Chapter 11 protection.

The cases are jointly administered, with Composite Technology as
the lead case.  Paul J. Couchot, Esq., at Winthrop Couchot PC,
serves as the Debtors' bankruptcy counsel.  The Debtors also
tapped Marsch Fischmann & Breyfogle LLP as special intellectual
property approval counsel; Knobbe, Martens, Olson & Bear, LLP as
special patent litigation counsel; McIntosh Group as special
intellectual property counsel.

Peter C. Anderson, the U.S. Trustee for Region 16, appointed five
members to the official committee of unsecured creditors in the
Debtor's cases.  Steptoe & Johnson LLP represents the Committee.


COMPREHENSIVE CARE: Issues $1.8MM Promissory Notes to Investors
---------------------------------------------------------------
Comprehensive Care Corporation, on Aug. 30, 2011, entered into
separate subscription agreements with investors consisting of
Sherfam, Inc., and two individuals, whereby the Company issued to
the investors (i) promissory notes convertible into shares of the
Company's common stock with an aggregate principal amount of
$1,800,000 and (ii) five-year warrants to purchase in the
aggregate 900,000 shares of the Company's common stock at an
initial exercise price of $0.44 per share, in exchange for the
Investors' payment to the Company of an aggregate purchase price
of $1,800,000.  Also on Aug. 30, 2011, the Company entered into
separate Addendums to each of the Promissory Notes with each of
the Investors, which provided certain additional terms to the
Note.

The Company intends to use the proceeds for general working
capital and other corporate purposes.

Each Note has an 18-month term beginning on Aug. 30, 2011, and
provides for interest on the outstanding principal balance at a
rate of 14% per annum to be paid quarterly and in arrears.  Each
Note provides that the Investor holding such Note may convert the
outstanding balance of the Note, along with any accrued interest,
into shares of the Company's common stock at a conversion price of
$0.25 per share at any time at or prior to the maturity date of
the Note.  At the option of applicable Investor, the maturity date
of the Note held by such Investor may be extended by six months.
Each Note provides that upon the occurrence of certain events,
which include the Company's failure to make a timely payment and
the Company's breach of a representation, warranty or covenant in
the Subscription Agreement or the Note, the Investor holding such
Note may require the Company to prepay the amount outstanding
under the Note.  In addition, each Note provides that the Company
may not issue or otherwise incur additional unsecured debt that is
senior to the Note.

Each Warrant may be exercised in whole or in part at an initial
exercise price of $0.44 per share, subject to adjustment, at any
time between Aug. 30, 2011, and Aug. 30, 2016.  The Warrant
exercise price is subject to adjustment upon the occurrence of
certain events, including, without limitation, the issuance of
dividends payable in any kind of shares of capital stock of the
Company, stock splits, combinations, mergers and acquisitions,
reclassification and other similar events.  The Company has the
right to redeem each of the Warrants for an initial redemption
price of $0.05 per share, subject to the adjustments described
above, following any period of 20 or more consecutive trading days
on which the closing price of a share of the Company's common
stock has equaled or exceeded $1.00, subject to adjustments.

                      About Comprehensive Care

Tampa, Fla.-based Comprehensive Care Corporation provides managed
care services in the behavioral health, substance abuse, and
psychotropic pharmacy management fields.

Mayer Hoffman McCann P.C., in Clearwater, Fla., expressed
substantial doubt about the Company's ability to continue as a
going concern.  The independent auditors noted that the Company
has suffered recurring losses from operations and has not
generated sufficient cash flows from operations to fund its
working capital requirements.

The Company reported a net loss of $10.4 million on $35.2 million
of revenues for 2010, compared with a net loss of $18.9 million on
$14.2 million of revenues for 2009.

The Company's balance sheet at June 30, 2011, showed
$15.14 million in total assets, $25.09 million in total
liabilities, and a $9.95 million total stockholders' deficit.


COMPREHENSIVE CARE: PNC Financial Ceases to Hold 5% Equity Stake
----------------------------------------------------------------
In an amended Schedule 13G filing with the U.S. Securities and
Exchange Commission, The PNC Financial Services Group, Inc., and
its affiliates disclosed that as of Sept. 1, 2011, they ceased to
beneficially own more than 5% of the stock of the Comprehensive
Care Corporation.  A full-text copy of the filing is available for
free at http://is.gd/7VyN5O

                      About Comprehensive Care

Tampa, Fla.-based Comprehensive Care Corporation provides managed
care services in the behavioral health, substance abuse, and
psychotropic pharmacy management fields.

Mayer Hoffman McCann P.C., in Clearwater, Fla., expressed
substantial doubt about the Company's ability to continue as a
going concern.  The independent auditors noted that the Company
has suffered recurring losses from operations and has not
generated sufficient cash flows from operations to fund its
working capital requirements.

The Company reported a net loss of $10.4 million on $35.2 million
of revenues for 2010, compared with a net loss of $18.9 million on
$14.2 million of revenues for 2009.

The Company's balance sheet at June 30, 2011, showed
$15.14 million in total assets, $25.09 million in total
liabilities, and a $9.95 million total stockholders' deficit.


COMPREHENSIVE CARE: Bernard Sherman Holds 9.6% Equity Stake
-----------------------------------------------------------
In a Schedule 13G filing with the U.S. Securities and Exchange
Commission, Bernard C. Sherman and his affiliates disclosed that
as of Aug. 30, 2011, they beneficially own 6,300,000 shares of
common stock of Comprehensive Care Corporation representing 9.61%
of the shares outstanding.  A full-text copy of the filing is
available for free at http://is.gd/S8fJSk

                     About Comprehensive Care

Tampa, Fla.-based Comprehensive Care Corporation provides managed
care services in the behavioral health, substance abuse, and
psychotropic pharmacy management fields.

Mayer Hoffman McCann P.C., in Clearwater, Fla., expressed
substantial doubt about the Company's ability to continue as a
going concern.  The independent auditors noted that the Company
has suffered recurring losses from operations and has not
generated sufficient cash flows from operations to fund its
working capital requirements.

The Company reported a net loss of $10.4 million on $35.2 million
of revenues for 2010, compared with a net loss of $18.9 million on
$14.2 million of revenues for 2009.

The Company's balance sheet at June 30, 2011, showed
$15.14 million in total assets, $25.09 million in total
liabilities, and a $9.95 million total stockholders' deficit.


CORNERSTONE BANCSHARES: Ten Directors Elected at Annual Meeting
---------------------------------------------------------------
The 2011 Annual Shareholders Meeting of Cornerstone Bancshares,
Inc., was held on April 28, 2011.  Ten nominees were elected to
serve on the Board of Directors for a term expiring in 2012,
namely:

   (1) B. Kenneth Driver;
   (2) Karl Fillauer;
   (3) David G. Fussell;
   (4) Nathaniel F. Hughes;
   (5) Lawrence D. Levine;
   (6) Frank S. McDonald;
   (7) Doyce G. Payne, M.D.;
   (8) Wesley M. Welborn;
   (9) Billy O. Wiggins; and
  (10) Marsha Yessick.

The appointment of Hazlett, Lewis & Bieter, PLLC as the Company's
independent registered public accounting firm for the fiscal year
ending Dec. 31, 2011, was ratified.

                    About Cornerstone Bancshares

Chattanooga, Tenn.-based Cornerstone Bancshares, Inc. is a bank
holding company.  Its wholly-owned subsidiary, Cornerstone
Community Bank, is a Tennessee-chartered commercial bank with five
full-service banking offices located in Hamilton County,
Tennessee.

The Company reported a net loss of $4.71 million on $25.21 million
of total interest income for the year ended Dec. 31, 2010,
compared with a net loss of $8.17 million on $26.31 million of
total interest income during the prior year.

The Company's balance sheet at June 30, 2011, showed
$441.21 million in total assets, $412.35 million in total
liabilities, and $28.86 million in total stockholders' equity.

                         Consent Order

The Company disclosed in 10-Q for the quarter ended June 30, 2010,
that following the issuance of a written report by the Federal
Deposit Insurance Corporation and the Tennessee Department of
Financial Institutions concerning their joint examination of
Cornerstone Community Bank in October 2009, the Bank entered a
consent order with the FDIC on April 2, 2010, and a written
agreement with the TDFI on April 8, 2010, each concerning areas of
the Bank's operations identified in the report as warranting
improvement and presenting substantially similar plans for making
those improvements.

The consent order and written agreement, which the Company
collectively refers to as the "Action Plans", convey specific
actions needed to address certain findings from the joint
examination and to address the Company's current financial
condition.  The Action Plans contain a list of strict requirements
ranging from a capital directive, which requires the Company to
achieve and maintain minimum regulatory capital levels in excess
of the statutory minimums to be well-capitalized, to developing a
liquidity risk management and contingency funding plan, in
connection with which the Company will be subject to limitations
on the maximum interest rates it  can pay on deposit accounts.
The Action Plans also contain restrictions on future extensions of
credit and requires the development of various programs and
procedures to improve the Company's asset quality as well as
routine reporting on its  progress toward compliance with the
Action Plans to the Board of Directors, the FDIC and the TDFI.

As of April 2, 2010, the date of the Action Plans, the Bank was
deemed to be "adequately capitalized."


CRAIG WASHINGTON: U.S. Gov't May Foreclose on 3 Real Properties
---------------------------------------------------------------
United States of America, v. Craig A. Washington, Sr., et al.,
Civil Action No. H-09-3996 (S.D. Tex.), seeks to recover taxes
allegedly owed by Craig Washington, Sr. for the tax years 1988,
1989, and 1990, by foreclosing on three parcels of real property
that Washington claims are owned by Washington Children's Trust
Number 1.  The properties are an office building at 2323 Caroline
Street, Houston, Harris County, Texas; and parking lots at 1313
McIlhenny, in Houston, and at 2317 Caroline Street, in Houston,
for the 2323 Caroline office building.

On July 25 through July 26, 2011, the court conducted a non-jury
trial in the matter.  In a Sept. 6, 2011 Findings of Fact and
Conclusions of Law, District Judge Gray H. Miller held that the
U.S. Government may foreclose the liens upon the Washington
property for the 1988 and 1989 tax years.  After costs of
preservation and sale, $21,728 of the proceeds of the foreclosure
sale of the property at 2317 Caroline Street, $9,716 of the
proceeds of the foreclosure sale of 2323 Caroline, and $4,813 of
the proceeds of the foreclosure sale of 1313 McIlhenny, will be
distributed first to lienholders.  After costs of preservation and
sale and after the funds have been distributed to the lienholders,
$444,255.22 will be distributed to the United States for the 1988
taxes, penalties, statutory additions, and interest, and
$66,875.47 shall be distributed to the United States for the 1989
taxes, penalties, statutory additions, and interest.  A copy of
Judge Miller's decision is available at http://is.gd/vOsstCfrom
Leagle.com.

                  About Craig A. Washington, Sr.

Craig A. Washington, Sr., was elected to the 19th Congressional
District in the City of Houston as successor to U.S. Congressman
Micky Leland, who passed away in 1989.  Mr. Washington remained in
Congress until 1994.  Before this election, Mr. Washington was a
practicing lawyer with his own law firm in Houston, Texas.  He
discontinued the practice of law while he was in Congress because
members of Congress cannot continue practicing law.  However, he
returned to his practice after he left Congress in late 1994 or
early 1995.  Mr. Washington also owned real property, including a
duplex in Austin, Texas, two apartment buildings, a nightclub, and
land in various locations throughout Texas, with the intention of
providing for his children in the event of his untimely death.

Mr. Washington filed for Chapter 11 bankruptcy on Jan. 11, 1991.
Mr. Washington filed for bankruptcy with the intent to reorganize
so that he could pay his tax debt.  The case was later converted
to a Chapter 7 proceeding.


D & L EQUIPMENT: Dist. Ct. Says Collateral Description Sufficient
-----------------------------------------------------------------
D & L Equipment Inc. challenges a Dec. 1, 2010 opinion and
accompanying Dec. 9, 2010 order in which the Bankruptcy Court
ruled that a Uniform Commercial Code financing statement filed by
Wells Fargo Equipment Finance, Inc., sufficiently identified Wells
Fargo's interest in the portion of the Debtor's inventory financed
by Wells Fargo after it stepped into the shoes of a prior lender.
The Debtor contends that the Bankruptcy Court erred, and that the
financing statement relied on by Wells Fargo should be deemed
effective, at best, to perfect Wells Fargo's security interest in
the items financed by the prior lender, but not the items
subsequently financed by Wells Fargo.

On May 4, 2000, the Debtor and The CIT Group/Equipment Financing,
Inc., entered into a security agreement, under which CIT agreed to
provide commercial floor plan financing to the Debtor for its use
in acquiring stone crushing equipment for its inventory.  To
secure repayment, the Debtor granted CIT a security interest in
the stone crushing equipment acquired through this financing.  In
2007, Wells Fargo stepped into CIT's shoes as a secured creditor
when it purchased CIT's interest in the floor plan financing
arrangement with the Debtor.  On Oct. 17, 2007, Wells Fargo filed
a UCC-3 amendment to the financing statement with the Michigan
Secretary of State, identifying itself as the secured party.  The
collateral description, however, was not amended, but continued to
reference equipment and inventory "financed by [CIT]."

In a Sept. 6, 2011 Opinion and Order, Chief District Judge Gerald
E. Rosen affirmed the Bankruptcy Court's ruling in all respects,
saying the record in the case provides ample support for the
Bankruptcy Court's conclusion that the defects in Wells Fargo's
filings did not render them "seriously misleading."

The case before the District Court is D & L Equipment Inc.,
Chapter 11, Appellant, v. Wells Fargo Equipment Finance, Inc.,
Appellee, Case No. 10-14965 (E.D. Mich.).  A copy of Judge Rosen's
decision is available at http://is.gd/OI0G81from Leagle.com.

D & L Equipment Inc. owns a fleet of industrial crushing,
screening and conveying equipment, and it sells and leases this
equipment for use primarily in road construction and improvement.
Based in Jackson, Michigan, D & L Equipment Inc. filed for Chapter
11 bankruptcy (Bankr. E.D. Mich. Case No. 10-72623) on Oct. 25,
2010.  Thomas R. Morris, Esq., at Silverman & Morris, PLLC, in
West Bloomfield, Michigan, serves as the Debtor's counsel.  In its
petition, the Debtor listed $1 million to $10 million in both
assets and debts.


DE LA ROSA: Case Summary & 8 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: De La Rosa Group, LLC
        6500 Iron Horse Blvd.
        North Richland Hills, TX 76180

Bankruptcy Case No.: 11-45055

Chapter 11 Petition Date: September 2, 2011

Court: United States Bankruptcy Court
       Northern District of Texas (Ft. Worth)

Judge: D. Michael Lynn

Debtor's Counsel: Behrooz P. Vida, Esq.
                  THE VIDA LAW FIRM, PLLC
                  3000 Central Drive
                  Bedford, TX 76021
                  Tel: (817) 358-9977
                  Fax: (817) 358-9988
                  E-mail: filings@vidalawfirm.com

Scheduled Assets: $805,786

Scheduled Debts: $1,392,255

A list of the Company's eight largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/txnb11-45055.pdf

The petition was signed by Virginia De La Rosa, manager.


DIGITAL REALTY: Fitch Puts Rating on $607 Million Stock at 'BB+'
----------------------------------------------------------------
Fitch Ratings assigns a credit rating of 'BB+' to the $250 million
7% series E cumulative redeemable preferred stock issued by
Digital Realty Trust, Inc. (NYSE: DLR).  Net proceeds from the
offering before the exercise of the underwriters' over-allotment
option are expected to be contributed to the company's operating
partnership, Digital Realty Trust, L.P., which will subsequently
use the proceeds to repay borrowings under the company's revolving
credit facility, to acquire additional properties, to fund
development and redevelopment properties and for general corporate
purposes.

Fitch currently rates the company as follows:

Digital Realty Trust, Inc.

  -- Issuer Default Rating (IDR) 'BBB';
  -- $607.4 million preferred stock 'BB+'.

Digital Realty Trust, L.P.

  -- IDR 'BBB';
  -- $850 million unsecured revolving credit facility 'BBB';
  -- $1.5 billion senior unsecured notes 'BBB';
  -- $266.4 million exchangeable senior debentures 'BBB'.

The Rating Outlook is Stable.


DYNEGY INC: Holdings Acquires Direct Ownership of Dynegy Coal
-------------------------------------------------------------
Dynegy Inc. announced that it has acquired direct ownership of
Dynegy Coal Holdco, LLC (Coal Holdco), the indirect parent of the
Company's subsidiary Dynegy Midwest Generation, LLC (CoalCo).  As
announced on Aug. 8, 2011, the Company established CoalCo as part
of an internal restructuring designed to increase flexibility and
optimize asset value by creating separate coal-fueled and gas-
fueled power generation units, for which $1.7 billion in stand
alone first lien financings were obtained.  The transfer of Coal
Holdco will help the Company delever its consolidated balance
sheet by facilitating one or more potential transactions, which
are currently under consideration by the Finance and Restructuring
Committee of the Board.  These potential transactions include
exchanges of some or all of Dynegy Holdings' outstanding $3.5
billion in notes for new notes or cash.  Those transactions may be
implemented in privately-negotiated transactions or otherwise.

The Company's management and Board of Directors concluded that the
fair value of the acquired equity stake in Coal Holdco, after
taking into account all debt obligations of CoalCo, including in
particular its new $600 million, five-year senior secured term
loan facility, is approximately $1.25 billion.  This value was
provided to Coal Holdco's former direct parent, Dynegy Gas
Investments, LLC (DGI) through the Company's issuance of an
undertaking to make proportionate payments at the times that
Dynegy Holdings is obligated to make payments of principal and
interest under its $1.1 billion of 7.75% notes due 2019 and its
$175 million of 7.625% notes due 2026.  The undertaking does not
provide any rights or obligations with respect to any outstanding
Dynegy Holdings notes, including the notes due in 2019 and 2026.

Immediately after closing the transfer, the undertaking was
assigned by DGI to its parent, Dynegy Holdings, for a note in the
amount of $1.25 billion that matures in 2027.  The undertaking
provides for the reduction of the Company's obligations if it or
its subsidiaries acquire or retire any of Dynegy Holdings'
outstanding $3.5 billion of notes.

                         About Dynegy Inc.

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

                           Failed Sale

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

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

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

                      Bankruptcy Warning

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

The Company's balance sheet at March 31, 2011, showed $9.82
billion in total assets, $7.15 billion in total liabilities and
$2.67 billion in total stockholders' equity.

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

                        *     *     *

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


ELIZABETH MITCHELL: Bankruptcy Court Won't Reopen Chapter 7 Case
----------------------------------------------------------------
Bankruptcy Judge Michael E. Romero rejected motions seeking
reconsideration of the Court's order issued July 27, 2011, denying
the Motion to Reopen Case Due to Administrative Errors and to
Vacate Orders filed by Elizabeth Mitchell and the Motion to Reopen
Case Due to Administrative Errors filed by Wayne Pratt.

Involuntary Chapter 7 bankruptcy petitions were filed against
Elizabeth Mitchell (Bankr. D. Colo. Case No. 07-10718) and
Chameleon Entertainment Systems, Inc. (Bankr. D. Colo. Case No.
07-10719) on Jan. 30, 2007.  The petitioning creditors,
represented by attorney Lee Kutner, Esq., are Lois Alcorn, Thomas
Alcorn, and David Noven.  The involuntary cases were jointly
administered.  On Feb. 6, 2008, Mitchell's case was dismissed, and
an order for relief entered in Chameleon's case following a
stipulation among the parties.

On June 3, 2009, Mitchell filed a Complaint for Fraud for Filing
and Involuntary Petition in Bankruptcy and Fraud in the Inducement
to Enter into a Settlement Agreement.  On June 10, 2009, the Court
entered an Order dismissing the Complaint because the bankruptcy
case had been dismissed, so the Court lacked jurisdiction to hear
the claims set forth in the Complaint.

After the passage of nearly another 11 months, on April 23, 2010,
James Heiman filed a Motion for Relief from Judgment/Order
(Dismissal) Pursuant to Federal Rules of Bankruptcy Procedures
9024 and for Other Relief.  The Court issued an Order denying that
Motion on June 10, 2010.  On Jan. 6, 2011, the Clerk of the
Bankruptcy Court entered an order entitled Order Accepting
Trustee's Report and Closing Case.

On March 14, 2011, over three years after the original case had
been dismissed, Mitchell filed a Motion to Reopen Case Due to
Administrative Errors.  The Petitioning Creditors objected.

The Court denied the Motion to Reopen stating that the
Stipulation, which included the Petitioning Creditors and Mitchell
as signatory parties, provided for the functional equivalent of
the abandonment or withdrawal of the involuntary petition filed by
the Petitioning Creditors.  No order for relief in the Mitchell
involuntary action was ever entered before the entire involuntary
proceeding was dismissed.  As a result, no bankruptcy case was
ever created to be reopened at this time.

On April 6, 2011, Mitchell filed a Motion to Reopen Case Due to
Administrative Errors and to Alter or Amend Judgment.  The Court
again denied the Motion.

On June 3, 2011, Pratt filed his Motion to Reopen Case Due to
Administrative Errors.

In his Sept. 2, 2011 Order, Judge Romero held that the date for
appealing the February 6, 2008 orders had long since passed when
the Motions to Reopen were filed.  Those Motions, and the current
Motion to Reconsider, are really seeking either an appeal of those
orders, or are seeking to present new claims based on assertions
that the Settlement was the result of improper actions by the
petitioning creditors and the parties' attorneys.

"This Court can make no finding as to such claims. It can merely
find, and does so find, that the Settlement was properly approved
based on the record before the Court, and that the Movants have
set forth no grounds upon which this Court can alter or amend its
orders approving the settlement, dismissing the Mitchell case,
entering the order for relief in the Chameleon case, or entering
its succeeding orders detailed above, including the July 27, 2011
order. Therefore, the Court finds the Motion to Reconsider must be
denied, and the above-captioned case will remain closed until such
time as a judgment of a court of general jurisdiction may provide
a basis for reopening the case," Judge Romero said.

A copy of Judge Romero's request is available at
http://is.gd/QDjhCCfrom Leagle.com.


ENERGY EDGE: Corrects Form 10-Q; Posts $32,200 1st Qtr. Net Loss
----------------------------------------------------------------
On Aug. 22, 2011, Energy Edge Technologies Corporation filed
Amendment No. 1 to its quarterly report on Form 10-Q for the three
months ended June 30, 2011, to remedy an administrative error that
occurred in filing the Form 10-Q such that the incorrect draft was
filed.

The Company reported a net loss of $32,280 on $285,922 of contract
revenues for the three months ended June 30, 2011, compared with a
net loss of $390,409 on $264,765 of contract revenues for the
comparable period last year.

The Company reported a net loss of $185,267 on $495,568 of
contract revenues for the six months ended June 30, 2011, compared
with a net loss of $401,098 on $576,224 of contract revenues for
the same period of 2010.

The Company's balance sheet at June 30, 2011, showed $1.0 million
in total assets, $834,321 in total liabilities, and stockholders'
equity of $202,312.

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

A copy of the Form 10-Q/A is available at http://is.gd/LVR8dv

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


ENVIRONMENTAL SOLUTIONS: Posts $3.9 Million Net Loss in Q2 2011
---------------------------------------------------------------
Environmental Solutions Worldwide, Inc., filed its quarterly
report on Form 10-Q, reporting a net loss of $3.89 million on
$3.05 million of sales for the three months ended June 30, 2011,
compared with net income of $152,067 on $3.60 million of sales for
the same period last year.

The Company reported a net loss of $7.02 million on
$5.10 million of sales for the six months ended June 30, 2011,
compared with a net loss of $5.85 million on $ million of
sales for the same period of 2010.

The Company's balance sheet at June 30, 2011, showed
$11.35 million in total assets, $5.03 million in total
liabilities, and stockholders' deficit of $6.33 million.

As reported in the TCR on April 6, 2011, MSCM LLP, in Toronto,
Canada, expressed substantial doubt about Environmental Solutions'
ability to continue as a going concern, following the Company's
2010 results.  The independent auditors noted that of the
Company's experience of negative cash flows from operations and
its dependency upon future financing.

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

Ontario, Canada-based Environmental Solutions Worldwide, Inc., is
engaged in the design, development, manufacturing and sales of
emissions technologies and emissions testing and environmental
certification services with its primary focus on the North
American on-road and off-road diesel retrofit market. ESW
currently manufactures and markets a line of catalytic emission
control and enabling technologies for a number of applications.


EPICEPT CORP: Okayed for Primary Listing on Nasdaq OMX
------------------------------------------------------
EpiCept Corporation announced that Nasdaq OMX Stockholm AB has
approved the Company's request for a primary listing of its common
stock on the Nasdaq OMX Stockholm Exchange.  The Company
previously had a secondary listing on Nasdaq OMX Stockholm.
EpiCept sought the change in status in recognition of the
Company's large Swedish shareholder base and the historical
trading volume of the Company's common stock on the Exchange.  The
change in status became effective Sept. 5, 2011, and does not
affect the Company's short name and order book I.D. on the
Exchange or the trading of its common stock on the Nasdaq Capital
Market.  The Company will continue to make quarterly and other
regulatory filings with the Securities and Exchange Commission.

EpiCept President & CEO Jack Talley commented, "We are very
pleased to be awarded a primary listing on the Nasdaq OMX
Stockholm Exchange.  This successful action confirms our desire to
more broadly meet the needs of our shareholders in Sweden and in
other countries that prefer to invest in EpiCept and trade our
common stock on a liquid, high quality exchange outside the United
States."

                     About EpiCept Corporation

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

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

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

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


EVERGREEN SOLAR: Wants to Hire UBS Securities as Investment Banker
------------------------------------------------------------------
Evergreen Solar, Inc., asks the U.S. Bankruptcy Court for the
District of Delaware for permission to employ UBS Securities, LLC
as investment banker and financial advisor.

UBS will, among other things:

   a) advise and assist the Debtor in analyzing, structuring and
      negotiating the financial aspects of any "restructuring
      transaction";

   b) advise and assist the Debtor in formulating a plan of
      reorganization or analyzing any proposed plan, including
      assisting in the plan negotiation and confirmation process,
      assisting in the preparation of any documents needed in this
      Chapter 11 case (including after any sale of substantially
      all the assets of the Debtor), and assisting the Debtor in
      connection with any restructuring transaction.

   c) assist the Debtor in identifying and evaluating candidates
      for potential sale transactions involving any assets or
      operations of the Debtor, including, without limitation, the
      Debtor's Devens facility (or equipment within the Devens
      facility) and certain LBIE claims, effectuated prior to,
      during the pendency of, or subsequent to consummation of
      the Chapter 11 case, including advising the Debtor in
      connection with negotiations and aiding in the consummation
      of such sale transactions including, without limitation, the
      preparation of offering memoranda related thereto.

With respect to a sale of the LBIE claims and the Devens assets,
the Debtor expects other brokers will take the lead on that
marketing process, and UBS will provide any services it is well
positioned to provide as reasonably requested by the other brokers
or the Debtor.

Steven D. Smith, global head of the restructuring group, Douglas
P. Lane, managing director in the restructuring group, and David
Dolezal, co-head of the alternative energy group, will be the
Debtor's primary contacts and advisors for the assignment.
Messrs. Smith, Lane, and Dolezal may also utilize the assistance
of other UBS employees as necessary.

The Debtor agreed to pay UBS pursuant to this fee structure:

   1. a monthly cash advisory fee of $150,000;

   2. a $4,000,000 restructuring transaction fee; and

   3. reimbursement for all of UBS's reasonable out-of-pocket
      expenses incurred in connection with the performance of its
      services under the engagement letter, including reasonable
      fees, disbursements and other charges of UBS's legal
      counsel, provided that the legal counsel's fees will not
      exceed $25,000 for due diligence performed on the Debtor and
      $250,000 in the aggregate without the prior written consent
      of the Debtor.

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

The Debtor set an Oct. 7 hearing on the requested employment of
UBS.  Objections, if any, are due Sept. 30, 2011, at 4:00 p.m.
(prevailing Eastern time.)

                       About Evergreen Solar

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

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

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

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

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


EVERGREEN SOLAR: Court OKs Bingham McCutchen as Counsel
-------------------------------------------------------
Evergreen Solar, Inc., sought and obtained permission from the
U.S. Bankruptcy Court for the District of Delaware to employ
Bingham McCutchen LLP as lead restructuring counsel effective as
of the Petition Date.

Bingham McCutchen's services to the Debtor include:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

                       About Evergreen Solar

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

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

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

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

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


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

The Debtor needs Hilco Industrial to:

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

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

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

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

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

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

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

   * coordinate the site clearance of the sold assets; and

   * certain additional services.

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

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

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

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

The Debtor will pay Hilco Industrial according to these plans:

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

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

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

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

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

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

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

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

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

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

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

                       About Evergreen Solar

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

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

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

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

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


EVERGREEN SOLAR: Court OKs Pachulski Stang as Co-Counsel
--------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware has granted
Evergreen Solar, Inc.'s application to employ Pachulski Stang
Ziehl & Jones LLP as co-counsel.

Led by Laura Davis Jones, the firm will charge the Debtor's
estates at hourly rates ranging from $245 to $895,

                      About Evergreen Solar

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

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

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

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

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


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

The Debtor needs Zolfo Cooper to perform these services:

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

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

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

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

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

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

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

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

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

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

                       About Evergreen Solar

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

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

Ronald J. Silverman, Esq., and Scott K. Seamon, Esq., at Bingham
McCutchen LLP, serve as general bankruptcy counsel to the Debtor.
Laura Davis Jones, Esq., and Timothy P. Cairns, Esq., at Pachulski
Stang Ziehl & Jones LLP, serve as co-counsel.  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.


EXPERT ROOFING: Files for Chapter 13 Bankruptcy Protection
----------------------------------------------------------
Corey Jones at the Capital-Journal reports that Jeannine Koranda,
spokeswoman for the Kansas Department of Revenue, said Expert
Roofing, a roofing company in Topeka, Kansas, filed for Chapter 13
bankruptcy in a Kansas City court.

The report says the owner, Daniel G. Bratcher, confirmed the
filing.

Ms. Koranda said revenue department agents, along with Shawnee
County sheriff's officers executed a tax warrant at Expert
Roofing, 2730 N.E. Spring Creek Drive, and seized all assets
before shuttering the business.

According to the report, Ms. Koranda said her office later was
notified of the bankruptcy filing.  She said the agency could have
contested the action, but instead released the assets back to
Bratcher so the business could continue operating.  She said
closing a business is a last resort.

Mr. Bratcher said he filed for Chapter 13 bankruptcy for the
"explicit purpose" of paying off the tax debt.  "We're going to
set a payment plan up within the confines of the Chapter 13, and
we're going to pay everything we owe the state back," he said.


FAIRPOINT COMMUNICATIONS: To Slash 400 Jobs in Coming Months
------------------------------------------------------------
Rich Karpinski at Connected Planet reports that FairPoint said it
plans to cut 400 jobs in the coming months.

According to the report, FairPoint said the 400 job cuts will
include 100 management positions.  An additional 300 union
employees will be affected and the company said it will follow
"prescribed steps" in its collective bargaining agreement to
manage that process.  Severance packages will total between
$7 million and $13 million, the company said.

The report relates that FairPoint said it will save about
$34 million in annualized operating expenses with the cuts, with
the full benefit realized next year.

                   About FairPoint Communications

FairPoint Communications, Inc. (NYSE: FRP) --
http://www.fairpoint.com/-- owns and operates local exchange
companies in 18 states offering advanced communications with a
personal touch, including local and long distance voice, data,
Internet, television and broadband services.  FairPoint is traded
on the New York Stock Exchange under the symbols FRP and FRP.BC.

FairPoint and its affiliates filed for Chapter 11 protection
(Bankr. S.D.N.Y. Case No. 09-16335) on Oct. 26, 2009.  Rothschild
Inc. is acting as financial advisor for the Company; AlixPartners,
LLP, as the restructuring advisor; and Paul, Hastings, Janofsky &
Walker LLP is the Company's counsel.  BMC Group is the claims and
notice agent.

As of June 30, 2009, FairPoint reported $3.24 billion in total
assets, $321.41 million in total current liabilities, $2.91
billion in total long-term liabilities, and $1.23 million in
stockholders' equity.

Andrews Kurth is counsel to the Official Committee of Unsecured
Creditors.  Altman Vilandrie is the operational consultant to the
Creditors' Committee.  Verrill Dana is the Creditors' Committee's
special regulatory counsel.  Jeffries serves as the Creditors'
Committee's financial advisor.

FairPoint Communications on Jan. 24, 2011, successfully completed
its balance sheet restructuring and emerged from Chapter 11.  As a
result of the restructuring, FairPoint has reduced its outstanding
debt by approximately 64%, from approximately $2.8 billion
(including interest rate swap liabilities and accrued interest) to
approximately $1.0 billion.  In addition, the Company has a
$75 million revolving credit facility available for working
capital and general corporate purposes.  Existing stock in the
Company was cancelled and holders did not receive any
distributions.


FAIRPOINT COMMUNICATIONS: Moody's Says Reductions Credit Positive
-----------------------------------------------------------------
Moody's Investors Service said Fairpoint Communications Inc.'s
("Fairpoint", B2/stable) plans to reduce its workforce by 400
employees, or approximately 10% in 2011 does not immediately
influence its ratings or outlook. This development however is
positive for Fairpoint's credit profile as the cost savings are
more aggressive than Moody's prior estimates and will meaningfully
improve the company's free cash flow.

The principal methodology used in this rating was Global
Telecommunications Industry Methodology published in December
2010.


FAITH CHRISTIAN: Plan Outline Hearing Scheduled for Oct. 4
----------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Florida
will convene a status hearing on Oct. 4, 2011, at 10:30 a.m., to
consider adequacy of the amended disclosure statement explaining
Faith Christian Family Church of Panama City Beach, Inc.'s plan of
reorganization.

As reported in the Troubled Company Reporter on Aug 9, 2011,
according to the First Amended Disclosure Statement, filed on
July 5, 2011, the Debtor will fund the Plan from general
operations of the ministry.  The ministry has also listed the
parsonage for sale at a price of $4.2 million.  Should the
parsonage sell prior to confirmation, the Debtor will be able to
pay Suntrust and all creditors in full, except for Margie Negrin
Bishop (Class 14) whose claim is disputed.

The secured claim of Suntrust Bank, owed $2,924,127 plus accrued
interest, will be satisfied from the surrender of real property.
The Debtor is proposing three options, each of which consists of
the surrender of real property in full satisfaction of the debt.

Allowed unsecured claims of less than $1,200 will be paid in full
at no interest upon the effective date of confirmation.

General unsecured claim of Suntrust for a Visa card in the
approximate amount of $15,309 will be paid in full at 6% simple
interest over 60 months.

Equity interest holders will retain their positions as members of
the not for profit corporation.

A copy of the First Amended Disclosure Statement is available at:

     http://bankrupt.com/misc/faithchristian.1stamendedDS.pdf

Based in Panama City Beach, Florida, Faith Christian Family Church
of Panama City Beach Inc., dba Faith Christian Family Church,
is a not for profit corporation.  The church filed for Chapter 11
bankruptcy protection (Bankr. N.D. Fla. Case No. 11-50288) on
May 24, 2011.  The Debtor disclosed $11,339,469 in assets, and
$3,361,477 in debts as of the Chapter 11 filing.  Charles M. Wynn,
Esq., at Charles M. Wynn Law Offices, P.A., serves as the Debtor's
bankruptcy counsel.


FANNIE MAE: Settlement With Regulators Said to Be Near
------------------------------------------------------
American Bankruptcy Institute reports that regulators are nearing
a settlement with Fannie Mae and Freddie Mac over whether the
mortgage finance giants adequately disclosed their exposure to
risky subprime loans, bringing to a close a three-year
investigation.

                         About Fannie Mae

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

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

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

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


FIREKEEPERS DEVELOPMENT: S&P Affirms 'B+' Issuer Credit Rating
--------------------------------------------------------------
Standard & Poor's Ratings Services revised its rating outlook on
Battle Creek, Mich.-based FireKeepers Development Authority (FDA
or the Authority), the operator of the FireKeepers Casino, to
positive from stable.  "We also affirmed our 'B+' issuer credit
rating on the Authority," S&P said.

"Our rating outlook revision to positive from stable reflects
continued strong performance, despite the recent opening of
additional competition in the region," said Standard & Poor's
credit analyst Michael Halchak, "and our expectations for similar
performance over the intermediate term, which would likely result
in credit measures which support a higher rating."

"Additionally, we expect that the Nottawaseppi Huron Band of the
Potawatomi (the Tribe) will provide greater clarity around its
longer term financial policy in the coming year," S&P said.


FOGO DE CHAO: S&P Gives 'B' Corp. Credit Rating; Outlook Stable
---------------------------------------------------------------
Standard & Poor's Rating Services assigned its 'B' corporate
credit rating to U.S. and Brazilian restaurant operator Fogo de
Chao Churrascaria Holdings LLC (Fogo). The outlook is stable.

"At the same time, we assigned our 'B+' issue-level rating to the
company's senior secured first-lien credit facility, which
consists of a $195 million six-year term loan and a $10 million
five-year revolver. The recovery rating is '2', indicating our
expectation of substantial (70% to 90%) recovery for lenders in
the event of a payment default," S&P related.

Private-equity firm GP Investments used the proceeds from the term
loan to fund the purchase of the remaining 65% ownership interest
in Fogo, which was held by the company's founding members. GP
Investments had originally acquired 35% ownership interest in Fogo
in 2006. Accordingly, the company holds 100% of the ownership
stake in Fogo.

"The ratings on Fogo reflect our expectation that the company will
remain substantially leveraged despite some modest earnings growth
and debt paydown," said Standard & Poor's credit analyst Mariola
Borysiak. "Based on our projection of credit ratios we see the
company's financial risk profile as aggressive."

"In addition," added Ms. Borysiak, "we consider Fogo's business
risk profile vulnerable because of a very small revenue and EBITDA
base, intense competition in the restaurant space, and particular
susceptibility of the company's fine dining niche to economic
conditions." "We view Fogo's capital structure to be aggressive.
Pro forma for the transaction, leverage is about 5x at June 2011
quarter-end and EBITDA interest coverage is close to 3x."

These ratios are slightly better than medians for the 'B' rating,
but are in line with many similarly rated restaurant companies.


FREDDIE MAC: Settlement With Regulators Said to Be Near
-------------------------------------------------------
American Bankruptcy Institute reports that regulators are nearing
a settlement with Fannie Mae and Freddie Mac over whether the
mortgage finance giants adequately disclosed their exposure to
risky subprime loans, bringing to a close a three-year
investigation.

                         About Freddie Mac

Based in McLean, Virginia, the Federal Home Loan Mortgage
Corporation, known as Freddie Mac (OTCBB: FMCC) --
http://www.FreddieMac.com/-- was established by Congress in
1970 to provide liquidity, stability and affordability to the
nation's residential mortgage markets.  Freddie Mac supports
communities across the nation by providing mortgage capital to
lenders.  Over the years, Freddie Mac has made home possible for
one in six homebuyers and more than five million renters.

Freddie Mac is under conservatorship and is dependent upon the
continued support of Treasury and the Federal Housing Finance
Agency acting as conservator to continue operating its
business.


GARLOCK SEALING: Seeks to Terminate DIP Financing with BoA
----------------------------------------------------------
Garlock Sealing Technologies LLC and its debtor affiliates seek
authority from the U.S. Bankruptcy Court for the Western District
of North Carolina, Charlotte Division, to terminate certain
debtor-in-possession financing arrangements with Bank of America,
N.A., and enter into a cash collateral agreement.

Shelley K. Abel, Esq., at Rayburn Cooper & Durham, P.A., in
Charlotte, North Carolina, tells the Court that the Debtors have
not needed the funds available to them under the DIP Facility, and
they have not incurred any debt to BofA, with the exception of
certain charges that may have accrued in connection with the
Debtors' use of BofA banking products and outstanding undrawn
letters of credit.  As of August 30, 2011, Garlock holds cash
reserves of more than $100 million, Mr. Abel says.  The Debtors
submit that the continued costs associated with the DIP Facility
cannot be justified when there is no foreseeable need for the
incursion of debt during the pendency of their bankruptcy cases
given the considerable cash accumulated since the Petition Date.

In order to effect full payment of the obligations in conformity
with the DIP Loan Agreement's requirements for terminating the
commitment, and to secure all charges that may accrue in
connection the Debtor's use of DIP Lender's banking products that
may arise after the DIP Financing Termination, Garlock and
Garrison Litigation Management Group, Ltd., desire to execute in
favor of the DIP Lender as cash collateral agreement regarding
standby letter of credit and bank products.  Under the Cash
Collateral Agreement, Garlock and Garrison will grant to DIP
Lender a lien on and security interest in the cash collateral
account and all balances therein and proceeds thereof to secure
all obligations under the Cash Collateral Agreement.

                     About Garlock Sealing

Headquartered in Palmyra, New York, Garlock Sealing Technologies
LLC is a unit of EnPro Industries, Inc. (NYSE: NPO).  For more
than a century, Garlock has been helping customers efficiently
seal the toughest process fluids in the most demanding
applications.

On June 5, 2010, Garlock filed a voluntary Chapter 11 petition
(Bankr. W.D. N.C. Case No. 10-31607) in Charlotte, North Carolina,
to establish a trust to resolve all current and future asbestos
claims against Garlock under Section 524(g) of the U.S. Bankruptcy
Code.  The Debtor estimated $500 million to $1 billion in assets
and up to $500 million in debts as of the Petition Date.
Affiliates The Anchor Packing Company and Garrison Litigation
Management Group, Ltd., also filed for bankruptcy.

The filing covers only Garlock operations in Palmyra, New York and
Houston, Texas.  Garlock Rubber Technologies, Garlock Helicoflex,
Pikotek, Technetics, Garlock Europe and Garlock operations in
Canada, Mexico or Australia are not affected by the filing, nor is
EnPro Industries or any other EnPro operating subsidiary.

Albert F. Durham, Esq., at Rayburn Cooper & Durham, P.A.,
represents the Debtor in its Chapter 11 effort.  Garland S.
Cassada, Esq., at Robinson Bradshaw & Hinson, serves as counsel
for asbestos matters.

The Official Committee of Asbestos Personal Injury Claimants in
the Chapter 11 cases is represented by Travis W. Moon, Esq., at
Hamilton Moon Stephens Steele & Martin, PLLC, in Charlotte, NC,
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, in New
York, and Trevor W. Swett III, Esq., Leslie M. Kelleher, Esq., and
Jeanna Rickards Koski, Esq., in Washington, D.C. 20005.

Joseph W. Grier, III, the Court-appointed legal representative for
future asbestos claimants, has retained A. Cotten Wright, Esq., at
Grier Furr & Crisp, PA, and Richard H. Wyron, Esq., and Jonathan
P. Guy, Esq., at Orrick, Herrington & Sutcliffe LLP, as his co-
counsel.

About 124,000 asbestos claims are pending against Garlock in
stateand federal courts across the country.  The Company says
majority of pending asbestos actions against it is stale and
dormant -- almost 110,000 or 88% were filed more than four years
ago and more than 44,000 or 35% were filed more than 10 years ago.


GENTA INC: Has 429.4 Million Outstanding Common Shares
------------------------------------------------------
The number of outstanding shares of Genta Incorporated common
stock par value $0.001 as of Sept. 9, 2011, was 429,392,767.

                     About Genta Incorporated

Berkeley Heights, New Jersey-based Genta Incorporated (OTC BB:
GNTA) -- http://www.genta.com/-- is a biopharmaceutical company
engaged in pharmaceutical (drug) research and development.  The
Company is dedicated to the identification, development and
commercialization of novel drugs for the treatment of cancer and
related diseases.

EisnerAmper LLP, in Edison, New Jersey, expressed substantial
doubt about Genta's ability to continue as a going concern
following the 2010 financial results.  The independent auditors
noted that of the Company's recurring losses from operations,
negative cash flows from operations and current maturities of
convertible notes payable.

Amper, Politziner & Mattia, LLP, in Edison, New Jersey, did not
include a going concern explanatory paragraph in its audit report
on the Company's financial statements for fiscal 2009.

The Company reported a net loss of $167.3 million on $257,000 of
sales for 2010, compared with a net loss of $86.3 million on
$218,000 for 2009.

The Company's balance sheet at June 30, 2011, showed $6.44 million
in total assets, $19.10 million in total liabilities, and a
$12.65 million total stockholders' deficit.

At June 30, 2011, Genta had cash and cash equivalents totaling
$5.2 million, compared with $12.8 million at Dec. 31, 2010.  Net
cash used in operating activities during the first six months of
2011 was $7.3 million, or approximately $1.2 million per month.

                        Bankruptcy Warning

Presently, with no further financing, the Company projects that it
will run out of funds during the third quarter of 2011.  The
Company currently does not have any additional financing in place.
If the Company is unable to raise additional funds, it could be
required to reduce its spending plans, reduce its workforce,
license one or more of its products or technologies that it would
otherwise seek to commercialize, sell certain assets, or even
declare bankruptcy.  The Company said there can be no assurance
that it can obtain financing, if at all, or raise such additional
funds, on terms acceptable to it.


GEO POINT: Posts $380,500 Net Loss in June 30 Quarter
-----------------------------------------------------
Geo Point Technologies, Inc., filed a Form 10-Q, reporting a net
loss of $380,582 on $80,479 of revenues for the three months ended
June 30, 2011, compared with a net loss of $137,432 on $15,927 of
revenues for the same period ended June 30, 2010.

The Company's balance sheet at June 30, 2011, showed $6.3 million
in total assets, $2.9 million in total liabilities, and
stockholders' equity of $3.4 million.

As reported in the TCR on July 19, 2011, Hansen, Barnett &
Maxwell, P.C., in Salt Lake City, expressed substantial doubt
about Geo Point Technologies' ability to continue as a going
concern, following the Company's results for the fiscal year ended
March 31, 2011.  The independent auditors noted that the Company
has incurred significant losses and negative cash flows from
operating activities since inception, has negative working capital
and an accumulated deficit, and is dependent on additional debt or
equity financing in order to continue its
operations.

A copy of the Form 10-Q is available at http://is.gd/O5zJF2

Salt Lake City-based Geo Technologies, Inc., owns and operates an
oil refinery in Karatau, Kazakhstan, that refines crude oil into
diesel fuel, gasoline, and mazut, a heating oil.


GEORGE MASON: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: George Mason Citrus, Inc.
        509 Lake Mirror Drive
        Lake Placid, FL 33852

Bankruptcy Case No.: 11-34921

Chapter 11 Petition Date: September 6, 2011

Court: United States Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Erik P. Kimball

Debtor's Counsel: Kenneth S. Rappaport, Esq.
                  RAPPAPORT OSBORNE & RAPPAPORT PL
                  1300 N Federal Hwy #203
                  Boca Raton, FL 33432
                  Tel: (561) 368-2200
                  E-mail: rappaport@kennethrappaportlawoffice.com

Scheduled Assets: $1,000,000

Scheduled Debts: $5,600,000

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/flsb11-34921.pdf

The petition was signed by George P. Mason, Jr., president.


GIORDANO'S ENTERPRISES: Gino's Owner Plans to Bid for Assets
------------------------------------------------------------
Becky Yerak at WGNradio.com reports that the Chicago owner of the
Gino's East, Ed Debevic's and Edwardo's restaurant chains is among
the parties interested in making a bid for Giordano's.

The report relates that the bidding process for Giordano's has
started, and Jeff Himmel whose West Loop-based Bravo Restaurants
Inc. already owns pizza makers Gino's East and Edwardo's Natural
Pizza as well as diner-themed Ed Debevic's, is among those taking
a look at Giordano's, sources familiar with the matter said.

According to the report, the chain is expected to be sold for at
least $40 million.  Giordano's main creditor, Fifth Third Bank, is
owed $45.5 million.

The report notes other interested bidders include the Apostolou
family, who owned Giordano's when it went into bankruptcy court.
Family patriarch John Apostolou lost control of Giordano's in the
bankruptcy after he fired his previous lawyer and struck up a
relationship with Marshall Home, an Arizona man who made a claim
that the bankruptcy trustee said was fraudulent.  John's two sons
own franchises in Chicago that aren't part of the bankruptcy.

                    About Giordano's Enterprises

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

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

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

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

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


GRAHAM PACKAGING: Suspending Filing of Reports with SEC
-------------------------------------------------------
Graham Packaging Holdings Company filed a Form 15 notifying of its
suspension of its duty under Section 15(d) to file reports
required by Section 13(a) of the Securities Exchange Act of 1934
with respect to its 8 1/4% Senior Notes due 2017, 8 1/4% Senior
Notes due 2018, and 9 7/8% Senior Subordinated Notes due 2014.
Pursuant to Rule 12h-3, the Company is suspending reporting
because there are currently less than 300 holders of record of the
notes.

                       About Graham Packaging

Headquartered in York, Pennsylvania, Graham Packaging Holdings
Company, -- http://www.grahampackaging.com/-- the parent company
of Graham Packaging Company, L.P., is engaged in the design,
manufacture and sale of customized blow molded plastic containers
for the branded food and beverage, household, automotive
lubricants and personal care/specialty product categories.  As of
the end of June 2008, the company operated 83 manufacturing
facilities throughout North America, Europe and South America.

The Company's balance sheet at June 30, 2011, showed $2.94 billion
in total assets, $3.41 billion in total liabilities, and a
$470.55 million total partners' deficit.

                           *     *     *

In June 2011, Fitch Ratings revised the Rating Watch status on
Graham Packaging Company, L.P.'s and its subsidiary, GPC Capital
Corp.'s 'B' Issuer Default Rating and the long-term debt ratings
to Negative from Positive.

The rating action follows Graham's announcement that the company
has signed a definitive merger agreement, and an amendment
thereto, under which Graham would be acquired by Reynolds Group
Holdings Limited in an all-cash transaction for $25.50 per share.
The transaction is valued at approximately $4.5 billion including
assumed indebtedness. The deal is expected to close in the second
half of this year.

Fitch notes Graham's credit agreement contains triggers that allow
lenders to declare an event of default and elect to declare all
borrowings due and payable in the event of a party acquiring
beneficial ownership.  The debt indentures also contain a change
of control covenant that requires the company to repurchase all
outstanding notes at 101% of their principal amount plus accrued
and unpaid interest.


GRAMERCY CAPITAL: Announces Settlement of $549.7MM Mezzanine Loans
------------------------------------------------------------------
In a regulatory filing Thursday, Gramercy Capital Corp. discloses
that on Sept. 1, 2011, it entered into a collateral transfer and
settlement agreement with respect to its $549.7 million senior and
junior mezzanine loans with Goldman Sachs Mortgage Company,
Citicorp North America, Inc., and KBS Debt Holdings, LLC ("KBS")
(collectively, the "Mezzanine Lenders").  The agreement requires
the Company to transfer beneficial ownership of substantially all
of the entities and properties comprising the Company's Gramercy
Realty division to an affiliate of KBS in exchange for a mutual
release of claims among the Company and the Mezzanine Lenders,
including Realty's obligation to repay the outstanding mezzanine
loan balance as well as contractual and default interest.

The Company's initial transfer of approximately 317 properties to
KBS occurred on Sept. 1, 2011, and the Company expects additional
transfers to KBS to occur over the next several months as and when
certain third-party conditions are satisfied.  The settlement
agreement obligates KBS to acquire from the Company any and all
remaining Gramercy Realty entities and properties on Dec. 15,
2011.  KBS will acquire the transferred properties under and
subject to all in-place mortgage debt and other liabilities.  The
Company will retain 58 properties encumbered by approximately
$31.8 million in first lien mortgage debt held by a Company-
affiliated CDO.

The agreement also provides for the Company's continued management
of the transferred collateral through Dec. 31, 2013, for a fixed
fee of $10.0 million annually plus reimbursement of certain costs
and an incentive fee equal to a specified percentage of the excess
of the equity value of the transferred collateral over a baseline
valuation amount.  The minimum amount of the Company's incentive
fee will equal $3.5 million.  The management agreement may be
terminated by either party upon ninety day written notice; however
any Company notice of termination cannot be effective until
Dec. 31, 2011, at the earliest.  Under the terms of the management
agreement, the Company does not forfeit its incentive fee rights
unless the Company resigns as manager or is terminated as manager
for cause.

With the execution of the collateral transfer and settlement
agreement, the Company expects that it will complete and file its
annual report on form 10-K for the fiscal year ended Dec. 31,
2010. and its quarterly reports on form 10-Q for the first and
second quarters of 2011 not later than Sept. 30, 2011.

A copy of the Collateral Transfer and Settlement Agreement is
available at http://is.gd/ErNA7U

                      About Gramercy Capital

Gramercy Capital Corp. (NYSE: GKK) - http://www.gkk.com/-- is a
self-managed integrated commercial real estate finance and
property management and investment company whose Gramercy Finance
division focuses on the direct origination, acquisition and
portfolio management of whole loans, subordinate interests in
whole loans, mezzanine loans, preferred equity, commercial
mortgage-backed securities and other real estate securities, and
whose Gramercy Realty division targets commercial properties
leased primarily to financial institutions and affiliated users
throughout the United States.  The Company is headquartered in New
York City and has regional investment and portfolio management
offices in Jenkintown, Pennsylvania, Charlotte, North Carolina,
and St. Louis, Missouri.

As reported in the TCR on April 6, 2011, the Company received a
notice from the NYSE indicating that it is not in compliance with
the NYSE listed company manual Section 802.01E due to a delay in
the filing of the Company's annual report on Form 10-K for the
fiscal year ended Dec. 31, 2010.

The delay arises, as previously disclosed, as a result of the
continuing uncertainty regarding whether and on what terms, if
any, the Company will be able to extend, modify, restructure or
refinance its $240.5 million mortgage loan with Goldman Sachs
Mortgage Company ("GSMC"), Citicorp North America, Inc., and SL
Green Realty Corp., and its $549.7 million senior and junior
mezzanine loans with KBS Debt Holdings, LLC, GSMC, Citicorp and SL
Green.


GREAT ATLANTIC: Shareholder Claims Execs. Hushed Faulty Finances
----------------------------------------------------------------
Roxanne Palmer at Bankruptcy Law360 reports that a shareholder of
The Great Atlantic & Pacific Tea Co. Inc. filed a putative class
action Friday in New Jersey federal court, accusing the company's
executives of failing to disclose A&P's precarious financial
situation.

Named plaintiff Ricky Dudley claims A&P officers disseminated
false and misleading statements that deceived investors about the
condition of A&P's business, artificially inflated the company's
stock price and enabled A&P to sell more than $430 million in debt
on more favorable terms, according to Law360.

                   About Great Atlantic & Pacific

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

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

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

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

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


GWINNETT PLACE: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Gwinnett Place Park LLC
        P.O. Box 1981
        Duluth, GA 30096

Bankruptcy Case No.: 11-75868

Chapter 11 Petition Date: September 5, 2011

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

Debtor's Counsel: Scott B. Riddle, Esq.
                  Suite 1530 Tower Place
                  3340 Peachtree Road, NE
                  Atlanta, GA 30326
                  Tel: (404) 815-0164
                  Fax: (404) 815-0165
                  E-mail: sbriddle@mindspring.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 Sang Kap Han, manager.


HD SUPPLY: Incurs $101 Million Second Quarter Net Loss
------------------------------------------------------
HD Supply, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, reporting a net loss
of $101 million on $2.15 billion of net sales for the three months
ended July 31, 2011, compared with a net loss of $115 million on
$1.96 billion of net sales for the three months ended Aug. 1,
2010.

The Company also reported a net loss of $265 million on
$4.04 billion of net sales for the six months ended July 31, 2011,
compared with a net loss of $317 million on $3.76 billion of net
sales for the six months ended Aug. 1, 2010.

The Company's balance sheet at July 31, 2011, showed $7.14 billion
in total assets, $7.29 billion in total liabilities, and a
$153 million total stockholders' deficit.

Joe DeAngelo, CEO of HD Supply, stated, "The second quarter
results marked the company's fifth consecutive quarter of sales
growth and each of our business sectors [Infrastructure & Energy,
Specialty Construction and Maintenance, Repair & Improvement]
reported year-over-year sales growth for the quarter.  During the
second quarter, sales initiatives, continued focus on margin
expansion and cost control resulted in the highest quarterly
operating income since the second quarter of fiscal 2008."

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

                        http://is.gd/hMCT5g

                          About HD Supply

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

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

                           *     *     *

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

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


HD SUPPLY: Awarded $23 Million Damages in Andritz Litigation
------------------------------------------------------------
Appleton Papers Inc. recovered approximately $23 million in
damages, after deductions for related fees and litigation
expenses, from a favorable judgment in a contract dispute with
Andritz BMB AG and Andritz, Inc.  The recovery follows a Sept. 1,
2011, decision by the Wisconsin Supreme Court denying Andritz's
petition to review a March 2011 decision by the Wisconsin Court of
Appeals, District III, which upheld a 2009 Outagamie County,
Wisconsin, Circuit Court ruling in favor of Appleton.  The claims
asserted in the litigation included breach of obligations under a
February 2007 agreement to perform certain engineering services
which also granted Appleton an option to purchase certain
equipment and services relating to an off-machine paper coating
line.  Appleton will use the award to pay down debt on the
Company's revolving line of credit.

                       About Appleton Papers

Appleton Papers Inc. is a 100%-owned subsidiary of Paperweight
Development Corp.  Appleton Papers Inc. --
http://www.appletonideas.com/-- headquartered in Appleton,
Wisconsin, produces carbonless, thermal, security and performance
packaging products.  Appleton has manufacturing operations in
Wisconsin, Ohio, Pennsylvania, and Massachusetts, employs
approximately 2,200 people and is 100% employee-owned.

The Company's balance sheet at July 3, 2010, showed
$633.02 million in total assets, $782.05 million in total
liabilities, $102.52 million in redeemable common stock,
a $159.39 million in accumulated deficit, and a $92.16 million
accumulated other comprehensive loss.

Appleton Papers carries a 'B' corporate credit rating from
Standard & Poor's.


HEARUSA INC: Posts $1.8-Mil. Net Loss in Qtr. Ended July 2
----------------------------------------------------------
HearUSA, Inc., filed its Form 10-Q, reporting a net loss of
$1.8 million on $20.3 million of revenues for the three months
ended July 2, 2011, compared with a net loss of $1.9 million on
$21.4 million of revenues for the three months ended June 26,
2010.

The Company reported a net loss of $48.7 million on $41.7 million
of revenues for the six months ended July 2, 2011, compared with a
net loss of $4.4 million on $41.0 million of revenues for the six
months ended June 26, 2010.  During the first quarter ended
April 2, 2011, the Company recorded an estimated $51.9 million
non-cash impairment charge to write down the goodwill associated
with these reporting units.

The Company's balance sheet at July 2, 2011, showed $28.7 million
in total assets, $56.1 million in total liabilities, and a
stockholders' deficit of $27.4 million.

A copy of the Form 10-Q is available at http://is.gd/t6ZNpG

                       About HearUSA Inc.

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

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

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

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

As reported in the TCR on Aug. 31, 2011, the U.S. Bankruptcy Court
for the Southern District of Florida approved on Aug. 17, 2011,
the sale of substantially all of the assets of the Company to
Audiology Distribution, LLC, a wholly owed subsidiary of Siemens
Hearing Instruments, Inc., who submitted the highest and best bid
for the assets in the July 29, 2011 Section 363 auction.

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


HIGHER HOPE: Case Summary & 3 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Higher Hope Christian Ministries, Inc.
        1450 Ralph D. Abernathy Blvd.
        Atlanta, GA 30310

Bankruptcy Case No.: 11-75881

Chapter 11 Petition Date: September 5, 2011

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

Debtor's Counsel: Gregory D. Ellis, Esq.
                  LAMBERTH, CIFELLI, STOKES, ELLIS & NASON, P.A.
                  3343 Peachtree Road, NE, Suite 550
                  Atlanta, GA 30326-1022
                  Tel: (404) 262-7373

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

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

A list of the Company's three largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ganb11-75881.pdf

The petition was signed by Stephen Redd, chief financial officer.


HOMELAND SECURITY: Forbearance From YA Global Expires Tomorrow
--------------------------------------------------------------
Homeland Security Capital Corporation, on Sept. 7, 2011, entered
into the First Amendment to the Forbearance Agreement entered into
by and among YA Global Investments, L.P., as lender, the Company,
Homeland Security Advisory Services, Inc., Celerity Systems, Inc.
and Nexus Technologies Group, Inc., pursuant to which the Lender
agreed to extend the Forbearance Period by amending the definition
of "Termination Date" to Sept. 14, 2011.  As amended, the
Forbearance Period now ends on the earlier of:

   (i) Sept. 14, 2011; and

  (ii) the occurrence of a "Termination Event," defined in the
       Agreement, as (i) the failure of the Company or any
       Guarantor to perform or comply with any term or condition
       of the Agreement; (b) the determination by the Lender that
       any warranty or representation made by the Company or any
       Guarantor in connection with the Agreement was false or
       misleading; (c) the occurrence of a materially adverse
       change in or to the collateral granted to the Lender under
       the Financing Documents or pursuant to the Agreement, as
       determined by the Lender in its sole and exclusive
       discretion; and (d) the occurrence of any default or Event
       of Default under the Financing Documents.

A full-text copy of the First Amendment to Forbearance Agreement
is available for free at http://is.gd/ksp2K1

                      About Homeland Security

Homeland Security Capital Corporation is an international provider
of specialized technology-based radiological, nuclear,
environmental disaster relief and electronic security solutions to
government and commercial customers.

At December 31, 2009, the Company had total assets of $35,815,519
against total liabilities of $38,018,448 and Warrants Payable --
Series H Preferred Stock of $169,768.  Stockholders' deficit was
$2,372,697 at December 31, 2009.

In March 2008, the Company entered into a stock purchase agreement
with YA Global Investments, L.P. pursuant to which the Company
sold to YA 10,000 shares of its Series H Convertible Preferred
Stock.  The Series H Stock is convertible into shares of Common
Stock at an initial ratio of 33,333 shares of Common Stock for
each share of Series H Stock, subject to adjustments -- including
the Company's wholly owned subsidiary, Safety & Ecology Holdings
Corporation, achieving certain earnings milestones, as defined,
for the calendar years ending December 31, 2009 and 2008.

Safety operates its business on a fiscal year ending June 30.
Safety achieved the first milestone for the calendar year ending
December 31, 2008.  However, the second financial milestone for
the calendar year ended December 31, 2009, has not been satisfied,
resulting in a potential adjustment to the conversion ratio
yielding approximately 56,300 shares of Common Stock for each
share of Series H Stock, or approximately a potential additional
230,000,000 shares of the Company's Common Stock in the aggregate.

Management is discussing with YA the possibility of a waiver or
amendment of any adjustment to the Series H Stock conversion
ratio, however there can be no assurances YA will waive or amend
the adjustment, if any, to the Series H Stock conversion ratio.
YA has not exercised its conversion rights as of February 22,
2010.

In June 2009 the Company entered into an agreement YA extending
the due date on its senior notes payable, and accrued interest, to
YA from March 14, 2010, until October 1, 2010, for $2,500,000 and
April 1, 2011, for $10,560,000.  In exchange, the Company agreed
to an increase in the interest rate, from 13% to 15%, on the
senior notes payable and certain other debt due to YA, effective
January 1, 2010, if the Company failed to secure a certain
contract by March 2010.  In December 2009, the Company was
informed that it had been eliminated from the award process for
this contract. Accordingly, the Company will begin recording
interest expense at the increased rate effective Jan. 1, 2010.

As reported by the TCR on Aug. 10, 2011, Homeland Security entered
into a Forbearance Agreement by and among YA Global Investments,
L.P., as lender, Homeland Security Advisory Services, Inc.,
Celerity Systems, Inc., and Nexus Technology Group, Inc., pursuant
to which the Lender agreed to forbear from exercising its rights
and remedies under the Financing Documents and applicable law with
respect to one or more Events of Default that have occurred and
are continuing as a consequence of the Company having failed to
pay, when due at maturity, all outstanding principal and accrued
and unpaid interest under the Company's outstanding debt with the
Lender.


HOVNANIAN ENTERPRISES: Moody's Cuts Corp. Family Rating to 'Caa2'
-----------------------------------------------------------------
Moody's Investors Service downgraded the corporate family and
probability of default ratings of Hovnanian Enterprises, Inc. to
Caa2 from Caa1. In a related action, Moody's lowered the rating on
Hovnanian's first lien senior secured notes to B2 from B1 and on
its senior unsecured notes to Caa3 from Caa2. The rating on
Hovnanian's preferred stock was affirmed at Ca, and the
speculative grade liquidity assessment remained SGL-3. The outlook
remains negative.

RATINGS RATIONALE

The downgrade reflects Hovnanian's continued operating losses,
weak gross margins, very high homebuilding debt leverage, and
Moody's expectation that the weakness in year-over-year revenues,
deliveries, and net new contracts experienced by the company will
continue for the next one to two years. In addition, the
downgrades acknowledge that Hovnanian's cash balance is weakening
and cash flow generation is negative as it pursues new land
opportunities, which represented about $300 million of investment
over the first nine months of fiscal 2011.

These rating actions were taken:

Corporate family rating downgraded to Caa2 from Caa1;

Probability of default rating downgraded to Caa2 from Caa1;

First lien senior secured notes downgraded to B2 (LGD2, 24%) from
B1 (LGD2, 24%);

Senior unsecured notes downgraded to Caa3 (LGD5, 78%) from Caa2
(LGD5, 78%);

Preferred stock rating affirmed at Ca (LGD6, 98%);

Speculative grade liquidity assessment affirmed at SGL-3;

All of K. Hovnanian Enterprises' debt is guaranteed by its parent
company, Hovnanian Enterprises, Inc. and its restricted operating
subsidiaries.

The Caa2 corporate family rating reflects Hovnanian's elevated
debt leverage weak gross margins, continued operating losses,
negative cash flow generation, and Moody's expectation that the
conditions in the homebuilding industry over the next one to two
years will provide limited opportunities for improvement in the
company's operating and financial metrics. In addition, the
ratings consider Hovnanian's negative net worth position, which
Moody's anticipates will be further weakened by continuing
operating losses and impairment charges. As a result, adjusted
debt leverage, currently standing at 129%, is likely to increase
further.

At the same time, the ratings are supported by the company's
satisfactory, albeit weakening, unrestricted current cash position
of about $273 million at July 31, 2011, the lack of financial
maintenance covenants, and the absence of significant debt
maturities until 2015.

The negative rating outlook reflects the risk that the likely
benefits of the company's current operating strategy of investing
in distressed lots and new community openings may transpire after
its weakening cash position, lack of a revolver, and bloated
capital structure place it in an untenable financial position.

The ratings could be lowered further if the company were to
materially deplete its cash reserves either through sharper-than-
expected operating losses or through a substantial investment or
other transaction. The outlook could stabilize if the company were
to generate sizable amounts of operating cash flow, turn
profitable on an operating basis, or receive a significant
infusion of equity capital.

The principal methodology used in rating Hovnanian was the Global
Homebuilding Industry Methodology published in March 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.

Established in 1959 and headquartered in Red Bank, New Jersey,
Hovnanian Enterprises, Inc. designs, constructs and markets
single-family detached homes and attached condominium apartments
and townhouses. Revenue and consolidated net loss for the last
twelve months ending April 2011 were approximately $1.2 billion
and $0.3 million, respectively.


HOVNANIAN ENTERPRISES: Incurs $50.9MM Net Loss in July 31 Quarter
-----------------------------------------------------------------
Hovnanian Enterprises, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q reporting a
net loss of $50.93 million on $285.61 million of total revenues
for the three months ended July 31, 2011, compared with a net loss
of $72.85 million on $380.60 million of total revenues for the
same period a year ago.

The Company also reported a net loss of $187.74 million on $793.28
million of total revenues for the nine months ended July 31, 2011,
compared with net income of $134.70 million on $1.01 billion of
total revenues for the same period during the prior year.

The Company's balance sheet at July 31, 2011, showed $1.69 billion
in total assets, $2.09 billion in total liabilities and a $399.35
million total deficit.

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

                        http://is.gd/AJmwau

                    About Hovnanian Enterprises

Red Bank, New Jersey-based Hovnanian Enterprises, Inc. (NYSE: HOV)
-- http://www.khov.com/-- founded in 1959 by Kevork S. Hovnanian,
is one of the nation's largest homebuilders with operations in
Arizona, California, Delaware, Florida, Georgia, Illinois,
Kentucky, Maryland, Minnesota, New Jersey, New York, North
Carolina, Ohio, Pennsylvania, South Carolina, Texas, Virginia and
West Virginia.  The Company's homes are marketed and sold under
the trade names K. Hovnanian Homes, Matzel & Mumford, Brighton
Homes, Parkwood Builders, Town & Country Homes, Oster Homes and
CraftBuilt Homes.  As the developer of K. Hovnanian's Four Seasons
communities, the Company is also one of the nation's largest
builders of active adult homes.

                          *     *     *

As reported by the TCR on April 25, 2011, Fitch Ratings has
affirmed Hovnanian Enterprises, Inc.'s Issuer Default Rating (IDR)
at 'CCC'.  The rating for HOV is influenced by the Company's
execution of its business model, land policies and geographic,
price point and product line diversity.  The rating also reflects
the company's liquidity position, substantial debt and high
leverage.

In the July 5, 2011, edition of the TCR, Standard & Poor's Ratings
Services lowered its corporate credit ratings on Hovnanian
Enterprises Inc. and its K. Hovnanian Enterprises Inc. subsidiary
to 'CCC' from 'CCC+'.

"The downgrade was driven by Hovnanian's declining cash position
as the company invests in land and new communities as a way to
bolster gross profits," said credit analyst George Skoufis. "We
also believe the housing recovery will be weaker and more
protracted than we previously expected. As a result, the company
will be challenged to ultimately address its highly leveraged
balance sheet if it does not begin to improve profitability."


HUDSON HEALTHCARE: Proposes Settlement With Creditors
-----------------------------------------------------
Jarrett Renshaw at Statehouse Bureau, citing court documents,
reports that Hoboken and its struggling hospital have asked a
federal bankruptcy judge to approve a settlement that would give a
long list of creditors -- including union pension funds, insurance
carriers and software developers -- just a fraction of the
millions they are owed, according to court filings.

Under the proposed settlement before U.S. Bankruptcy Judge Donald
Steckroth, creditors who are owed about $34.6 million from Hoboken
University Medical Center would only see about $5 million from the
proceeds of the pending hospital sale, or about 15 cents on the
dollar.

The report says, meanwhile, bondholders who financed the city's
takeover of the hospital in 2007 would be repaid in full,
receiving $52 million in outstanding loan payments, along with
$11 million in interest that would be picked up by state
taxpayers.  "The whole fact that you asked nurses to take a 10
percent cut in their salaries to help save the hospital, and they
agreed, and now you turn around and tell them to take 15 cents on
the dollar while the bondholders get 120 percent, that's a slap in
the face of the working class," the report quotes Beth Mason, a
Hoboken councilwoman who opposes the sale and voted against the
settlement that eventually passed the council last month, as
saying.

The report relates that the settlement proposal is just one of
a flurry of filings since the hospital's operator, Hudson
Healthcare, sought Chapter 11 bankruptcy protection last month.

The creditors have asked the judge to reject the settlement and
block the sale of the hospital, arguing it unfairly compensates
them for their losses.  They want to share in the full proceeds,
not what is left over after bondholders get paid.

The hospital authority, which issued the bonds and owns the
hospital, contracted with Hudson Healthcare to run the facility,
as required by a 2006 state law that allowed the city to buy the
hospital.

The report notes a hearing is scheduled for Sept. 21, 2011.  If
the settlement is not approved, the sale of the hospital to
private investors who own the for-profit Bayonne Medical Center
will fall apart and the hospital will close sometime in October,
Hudson Healthcare warned in court filings.

Doug Petkus, a spokesman for the hospital authority, said the
bankruptcy would ensure a "fair and orderly" processing of the
outstanding debts incurred by hospital.

Mr. Petkus said the longer the sale is delayed, the less money
will go to creditors and more to lawyers.  Since July 2010 the
authority has paid the law firm Lowenstein Sandler at least $1
million to handle the sale, records show.  Former state attorney
general Zulima Farber works for the firm and handled some of the
work.

                      About Hudson Healthcare

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

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

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


ICAD INC: Gets Nasdaq Letter on Non-Compliance With Minimum Bid
---------------------------------------------------------------
iCAD, Inc. received a letter from The Nasdaq Stock Market stating
that for the previous 30 consecutive business days, the bid price
of the Company's common stock closed below the minimum $1.00 per
share requirement for continued inclusion on The Nasdaq Global
Market pursuant to Nasdaq Marketplace Rule 5450(a)(1).  The Nasdaq
letter has no immediate effect on the listing of the Company's
common stock.

In accordance with Marketplace Rule 5810(c)(3)(A), iCAD will be
provided with a grace period of 180 calendar days, or until
March 7, 2012, to regain compliance with the Minimum Bid Price
Rule.  If at any time before March 7, 2012, the bid price of the
Company's 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 March 7, 2012, Nasdaq will notify the Company that its
common stock will be delisted from The Nasdaq Global Market.  In
the event the Company receives notice that its common stock is
being delisted from The Nasdaq Global Market, Nasdaq rules permit
the Company to appeal any delisting determination by the Nasdaq
staff to a Nasdaq Hearings Panel.  Alternatively, Nasdaq may
permit the Company to transfer its common stock to The Nasdaq
Capital Market if it satisfies the requirements for initial
inclusion set forth in Marketplace Rule 5505, except for the bid
price requirement.  If its application for transfer is approved,
the Company would have an additional 180 calendar days to comply
with the Minimum Bid Price Rule in order to remain on The Nasdaq
Capital Market.

                          About iCAD

iCAD, Inc. is an industry-leading provider of advanced image
analysis and workflow solutions that enable healthcare
professionals to better serve patients by identifying pathologies
and pinpointing the most prevalent cancers earlier.  iCAD offers a
comprehensive range of high-performance, upgradeable Computer-
Aided Detection (CAD) systems and workflow solutions for
mammography, Magnetic Resonance Imaging (MRI) and Computed
Tomography (CT).  iCAD recently acquired Xoft, Inc., developer of
the Axxent(R) eBx(TM) electronic brachytherapy system (eBx).


IL FORNAIO: S&P Gives 'B+' Corp. Credit Rating; Outlook Stable
--------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B+' corporate
credit rating to Corte Madera, Calif.-based Il Fornaio (America)
Corp. The outlook is stable.

"At the same time, we assigned our 'BB-' issue-level rating to the
company's $145 million senior secured bank credit facilities,
which consist of a $15 million five-year revolver and a $130
million six-year term loan. The recovery rating is '2', indicating
our expectation of substantial (70% to 90%) recovery for lenders
in the event of a payment default," S&P related.

"Private-equity firm Roark Capital used the proceeds from the term
loan, along with proceeds from new subordinated notes (which we do
not rate) and equity contribution, to fund the purchase of a
majority interest in Il Fornaio," S&P said.

"The ratings reflect our expectation that Il Fornaio will use
excess cash flows for debt reduction, leading to enhanced credit
protection measures over the intermediate term," said Standard &
Poor's credit analyst Andy Sookram. "We also think that EBITDA
margins will improve modestly in fiscal 2011 as cost discipline
and menu initiatives help mitigate commodity cost inflation."


INDIANA EQUITY: Has Access to Fannie Cash Collateral Until Oct. 31
------------------------------------------------------------------
In a fourth interim order dated Aug. 25, 2011, the U.S. Bankruptcy
Court for the Northern District of Illinois granted Indiana Equity
Investments, LLC, authorization to use the rents from its
properties which constitute cash collateral of Federal National
Mortgage Association, until Oct. 31, 2011, in accordance with a
budget.  The Debtor requested the use of rent to operate its
properties and provide services to its tenants.

The Debtor will deposit all Rent and all other income it receives
into the DIP Account maintained by Midwestern Equities, LLC, at
Chase Bank, N.A., and will pay all expenses using the DIP Account.
The Debtor will account for all cash collateral and provide to
Fannie Mae monthly accounting of all deposits to and disbursements
from the DIP Account on the 10th day of each month for the prior
month.  The Debtor will also account for and deposit into the DIP
Account all rents and other income received by the Debtor and held
by Debtor, Joseph Junkovic, Thomas Junkovic, Frano Junkovic, Maria
Junkovic, or any property management company or any management
employee.

The Debtor is not allowed to make any expenditures related to the
line items identified in the budgets as "Ownership Payroll" or
Health Insurance" only as those health insurance expenditures
relate to Joseph Junkovic, Thomas Junkovic, and Maria Junkovic
without further order of the Court.

As additional adequate protection of Fannie Mae's interests in the
cash collateral, Debtor will grant Fannie Mae valid and
automatically perfected first priority replacement and security
interests in the DIP Account and any and all assets of the Debtor.

To the extent the adequate protection is insufficient to protect
Fannie Mae's interest in the cash collateral, Fannie Mae is also
granted all of the other benefits and protections allowable under
11 U.S.C. Section 507(b).

The date of the final hearing has not been set.

As of the Petition Date, Fannie Mae asserts that the Debtor owes
it no less than $8,190,878, plus interest, fees and other charges.

Prior to the entry of the order, Fannie had objected to the
Debtor's use of its cash collateral, citing:

A. The Debtor should not be permitted to bank excess cash
   collateral without the payment of adequate protection payments.

B. The Debtor should not be allowed to use cash collateral to fund
   improper expenses.

C. The Debtor cannot provide adequate protection because it is
   unable to maintain a segregate DIP Account.  In its response to
   this objection, Debtor says it is unable at this time to open
   and maintain a bank account in its own corporate name since it
   has been involuntarily dissolved by the State of Indiana.

                      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., Arthur Simon, Esq., and Jeffrey
Dan, Esq., at Crane Heyman Simon Welch & Clar, in Chicago, serve
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.


INFUSION BRANDS: Sells $1 Million Preferred Shares and Warrants
---------------------------------------------------------------
Infusion Brands International, Inc., on Sept. 1, 2011, entered
into an oral agreement with a certain accredited investor to sell
the Investor, subject to the filing of an amendment to the
Certificate of Designation of its Series G Convertible Stock
1,000,000 shares of its Preferred Stock and Series G Warrants to
purchase an aggregate of 10,000,000 shares of the Company's common
stock.  The purchase price of the Private Placement Securities is
$1,000,000, and the funds were received from the Investor on
Sept. 1, 2011.  However, a stock purchase agreement and other
related transaction documents are in the process of being drafted
with the Investor and, accordingly, have not been executed at this
time.  The Private Placement Securities will be issued to the
Investor upon the execution of the Transaction Documents and upon
the amending of the certificate of designation of the Preferred
Stock.

                       About Infusion Brands

Infusion Brands International, Inc. is a global consumer products
company.  Its wholly owned operating subsidiary, Infusion Brands,
Inc. specializes in building and marketing profitable brands
through international direct-to-consumer channels of distribution.

On Dec. 16, 2010, as part of its quasi-reorganization in order to
change its business model from that of an acquisition strategy to
a singular operating model as a consumer products company which
builds and markets brands internationally through direct-to-
consumers channels of distribution, OmniReliant Holdings, Inc.
entered into an agreement and plan of merger with Infusion Brands
International, Inc., a Nevada corporation and the Company's
wholly-owned subsidiary.  Pursuant to the terms and subject to the
conditions set forth in the Merger Agreement, the Company merged
with and into Infusion Brands International, Inc., solely to
effect a name change of the Company.

The Company's balance sheet at June 30, 2011, showed $8.32 million
in total assets, $8.11 million in total liabilities, $7.29 million
in redeemable preferred stock, and a $7.08 million total deficit.

As reported by the TCR on April 7, 2011, Meeks International LLC,
in Tampa, Florida, expressed substantial doubt about the Company's
ability to continue as a going concern.  The independent auditors
noted that the Company has incurred significant recurring losses
from operations and is dependent on outside sources of financing
for continuation of its operations and management is restructuring
and redirecting its operating initiatives that require the use its
available capital resource.


INSIGHT PHARMACEUTICALS: Moody's Gives 'B2' Corp. Family Rating
---------------------------------------------------------------
Moody's Investors Service assigned first-time ratings for Insight
Pharmaceuticals, LLC, including a B2 Corporate Family Rating and
B2 Probability of Default Rating. Moody's also assigned Ba3
ratings to the company's $20 million senior secured first lien
revolving credit facility expiring in August 2016 and $255 million
senior secured first lien term loan due August 2016. The rating
outlook is stable.

Proceeds from the first lien term loan, an unrated $145 million
second lien term loan and $65 million equity infusion were used to
acquire Monistat(C), a nationally distributed vaginal anti-fungal
("VAF") medicine brand from Johnson & Johnson (J&J) and to
refinance existing debt. The Monistat purchase agreement also
required Insight to pay J&J approximately $77.8 million in
deferred performance-based payments in 2012 and 2013, which will
be funded in part by $40 million in restricted cash. The majority
of the deferred performance-based payments in 2012 are expected to
be paid with restricted cash.

RATINGS RATIONALE

Insight's B2 corporate family rating reflects its high leverage,
small revenue base and limited brand diversification in highly
competitive over-the-counter (OTC) categories against competitors
that have significantly more resources and financial flexibility.
Insight's outsourced manufacturing business model generates strong
profitability and positive cash flow with low capital spending
requirements. The rating also reflects the execution risk
associated with integrating and stabilizing acquired brands that
represent the majority of the company's revenue and profit base.
Finally, the rating incorporates Moody's expectation that
meaningful debt reduction will be limited despite positive cash
flow generation as Insight will likely pursue additional
acquisitions to supplement organic growth.

Pro forma for the transaction (including Moody's adjustments and
treatment of the J&J performance-based deferred payments as debt),
Moody's estimates debt-to-EBITDA of approximately 5.6 times for
the twelve months ending June 30, 2011. Moody's stable outlook
reflects Moody's expectation that revenue will grow in the low
single digits driven by a significant investment in marketing and
promotions for the newly acquired brands. These investments could
further delay any meaningful debt reduction over the next 12 to 18
months.

"Insight's strong profitability, positive cash flow (excluding the
effects of acquisitions) and presence in a variety of over-the-
counter (OTC) pharmaceutical sub-categories support the company's
B2 credit rating," says Moody's Senior Vice President Janice
Hofferber. "The company faces significant execution risk involved
with integrating many of the company's major brands, including two
of its largest brands, that have been acquired only within the
past two years," adds Ms. Hofferber.

Ratings could be downgraded should Insight's operating performance
deteriorate, or should the company make a sizable debt-financed
acquisition or material share repurchases such that Moody's
expects debt-to-EBITDA to be sustained above 6.0 times and EBITA-
to-interest expense to be sustained below 1.75 times.

Ratings could be upgraded if the company is successfully able to
improve its scale and product diversification while sustaining
credit metrics such that debt-to-EBITDA is below 4.5 times and
EBITA-to-interest expense is over 3.0 times.

Ratings assigned to Insight include the following:

- Corporate Family rating of B2;

- Probability of Default rating of B2;

- $20 million senior secured first lien revolving credit facility
  expiring August 2016 at Ba3 (LGD 2, 28%); and

- $255 million senior secured first lien term loan due August 2016
  at Ba3 (LGD 2, 28%).

The rating outlook is stable.

The principal methodology used in rating Insight Pharmaceuticals,
LLC was the Global Packaged Goods Industry Methodology, published
July 2009. Other methodologies used include Loss Given Default for
Speculative Grade Issuers in the US, Canada, and EMEA, published
June 2009.

Headquartered in Langhorne, Pennsylvania, Insight is a marketer of
a broad portfolio of branded over-the counter ("OTC") healthcare
products. Key brands include e.p.t.(C), Nix(C), Sucrets(C),
Anacin(C), Dermarest(C) and Bonine(C). Proforma revenue for the
twelve months ended June 30, 2011 is approximately $200 million.
SPC Partners IV, L.P. and Teacher's Private Capital, the private
equity affiliate of the Ontario Teachers' Pension Plan represent a
majority of Insight's ownership.


INT'L RARITIES: Federal Agents Raid Minneapolis Offices
-------------------------------------------------------
Mark Reilly, managing editor at Minneapolis / St. Paul Business
Journal, reports that federal agents searched the Minneapolis
offices of International Rarities Corp., seeking information into
securities sales by the coin company.

According to the report, the Star Tribune, which has been
reporting on the sometimes-sketchy world of coin-dealing for much
of the year, reported that the raid involved a $10 million funding
effort that was aimed to expand International Rarities, which
filed for Chapter 11 bankruptcy protection last month.

International Rarities Corp., 331 2nd Av. S., Minneapolis, filed
for Chapter 11 bankruptcy protection in Minneapolis (Bankr. D.
Minn. Case No. 11-45512) on Aug. 19, 2011, disclosing assets of
$1,353,295 and liabilities of $3,025,921.  Judge Robert J. Kressel
presides over the case.  Thomas G. Wallrich, Esq., at Hinshaw &
Culbertson LLP, represents the Debtor.


INTELLIGENT COMMUNICATION: Reports $2.4MM Net Income in 2nd Qtr.
----------------------------------------------------------------
Intelligent Communication Enterprise Corporation filed its
quarterly report on Form 10-Q, reporting net income of
$2.4 million on $0 revenue for the three months ended June 30,
2011, compared with a net loss of $908,673 on $0 revenue for the
same period last year.

The Company reported net income of $1.2 million on $0 revenue for
the six months ended June 30, 2011, compared with a net loss of
$3.8 million on $77,389 of revenue for the same period last year.

The sale of the discontinued operations resulted in a gain of
$4.4 million for the three and six months ended June 30, 2011.

The Company's balance sheet at June 30, 2011, showed $2.7 million
in total assets, $770,536 in total liabilities, all current, and
stockholders' equity of $1.9 million.

Peterson Sullivan LLP, in Seattle, Washington, expressed
substantial doubt about Intelligent Communication's ability to
continue as a going concern, following the Company's results for
2010.  The independent auditors noted that the Company has
incurred losses, and has negative working capital and an
accumulated deficit at Dec. 31, 2010.

A copy of the Form 10-Q is available at http://is.gd/gGxF81

Based in Singapore, Intelligent Communication Enterprise
Corporation (OTC BB: ICMC) -- http://www.icecorpasia.com/--
offers a range of innovative enterprise and consumer solutions
over the mobile phone.  ICE Corp owns and operates the ICEsync
platform, which currently hosts Modizo.com the celebrity video
blog and the related applications for mobile devices.  Intelligent
Communication Enterprise is a Pennsylvania corporation, with
offices in Singapore and Malaysia.


INTELSAT SA: Sees $725MM-$800MM 2011 Total Capital Expenditures
---------------------------------------------------------------
Intelsat S.A. announced changes to its annual capital expenditure
guidance for the three fiscal years beginning Jan. 1, 2011, and
ending Dec. 31, 2013, following an Intelsat news release
announcing a customer agreement resulting in two new satellite
programs.

The Company expects its 2011 total capital expenditures to range
from $725 million to $800 million.  Expected annual capital
expenditure ranges for fiscal years 2012 and 2013 are $875 million
to $950 million, and $375 million to $450 million, respectively.
However, whether particular satellite manufacturing and launch
contract milestones are met late in one year or early in another
can significantly affect the timing of capital expenditure
payments.

During the Guidance Period, the Company also expects to receive
significant customer prepayments under its service contracts.  The
prepayments are currently expected to range from $325 million to
$375 million in 2011, $150 million to $200 million in 2012, and
$75 million to $125 million in 2013.

The Company has seven satellites in development that are expected
to be launched during the Guidance Period.  In addition to these
announced programs, the Company expects to procure one additional
replacement satellite during this period.  By the conclusion of
the Guidance Period, the Company's total station-kept transponder
count is expected to increase modestly from current levels.  The
Company's capital expenditures guidance includes capitalized
interest, but excludes capital expenditures associated with the
Intelsat New Dawn satellite that was launched by the Company's
Intelsat New Dawn Company, Ltd., joint venture in April of this
year.

                           About Intelsat

Intelsat S.A., formerly Intelsat, Ltd., provides fixed-satellite
communications services worldwide through a global communications
network of 54 satellites in orbit as of Dec. 31, 2009, and ground
facilities related to the satellite operations and control, and
teleport services.  It had US$2.5 billion in revenue in 2009.

Luxembourg-based Intelsat S.A. carries 'B' issuer credit ratings
from Standard & Poor's.  It has 'Caa1' corporate family and
probability of default ratings from Moody's Investors Service.

Washington D.C.-based Intelsat Corporation, formerly known as
PanAmSat Corporation, is a fully integrated subsidiary of Intelsat
S.A., its indirect parent.  Intelsat Corp. had US$7.70 billion in
assets against US$4.86 billion in debts as of Dec. 31, 2010.

The Company reported a net loss of US$507.77 million on
US$2.54 billion of revenue for the year ended Dec. 31, 2010,
compared with a net loss of US$782.06 million on US$2.51 billion
of revenue during the prior year.

The Company's balance sheet at June 30, 2011, showed
$17.59 billion in total assets, $18.28 billion in total
liabilities, $1.90 million in noncontrolling interest, and a
$698.94 million total Intelsat S.A. shareholders' deficit.


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

The Creditors Committee members are:

      1. Wells Fargo Bank, N.A.
         ATTN: James Lewis, Esq.,
         45 Broadway,
         12th Floor, New York,
         NY 10006,
         Tel: (212) 515-5258
         Fax: (866) 524-4681

      2. Computershare Trust Company, NA
         ATTN: John M. Wahl
         350 Indiana Street
         Suite 650, Golden
         CO 80401
         Tel: (303) 262-0707
         Fax: (303) 262-0608

      3. Trishield Capital Management
         ATTN: Jeff Buick
         230 Park Avenue, 10th Floor
         New York, NY 10169
         Tel: (646) 867-1875
         Fax: (646) 304-3195

      4. Palo Alto Investors, LLC
         ATTN: David Horning
         470 University Avenue
         Palo Alto, CA 94301
         Tel: (650) 325-0772
         Fax: (650) 325-5028
      5. Capital Ventures International
         c/o Susquehanna International Group LLP,
         ATTN: Todd Silverberg
         401 City Avenue
         Suite 220, Bala Cynwyd
         PA 19004,
         Tel: (610) 747-1724
         Fax: (610) 747-2081

      6. Praxair, Inc.
         ATTN: Jeffrey Weiss, Esq.
         39 Old Ridgebury Road
         Danbury, CT 06810,
         Tel: (203) 887-2104

      7. Global Telecom & Technology
         ATTN: Chris McKee
         8484 Westpark Drive, Suite 720
         McLean, VA 22102
         Tel: (703) 442-5508
         Fax: (709) 442-5595

                   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.


JCK HOTELS: Hearing on Case Dismissal Scheduled for Sept. 15
------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of California
will convene a hearing on Sept. 15, 2011, at 2:00 p.m., to
consider the request to dismiss the Chapter 11 case of JCK Hotels,
LLC.

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 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.

                       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.


JIREH LEASING: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Jireh Leasing, Inc.
        201 Gold Street, Suite 100
        Garland, TX 75042

Bankruptcy Case No.: 11-45034

Chapter 11 Petition Date: September 2, 2011

Court: United States Bankruptcy Court
       Northern District of Texas (Ft. Worth)

Judge: Russell F. Nelms

Debtor's Counsel: Clarke Viron Rogers, Esq.
                  Jeff P. Prostok, Esq.
                  FORSHEY & PROSTOK LLP
                  777 Main Street, Suite 1290
                  Fort Worth, TX 76102
                  Tel: (817) 877-4224
                  Fax: (817) 877-4151
                  E-mail: crogers@forsheyprostok.com
                          jpp@forsheyprostok.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 Paul Christopher, president.


JOSEPH BORGES: Ag New Mexico Has Interest in CWT Funds
------------------------------------------------------
In the lawsuit styled as, Ag New Mexico, FCS, ACA; Ag New Mexico,
FCS, PCA; and Ag New Mexico, FCS, FLCA; v. Joe Bettencourt Borges;
and Maria Rocha Borges, his wife, d/b/a J&M Dairy, Adv. Proc. No.
10-01170 (Bankr. D. N.M.), Bankruptcy Judge James S. Starzynski
held that all three Plaintiffs have a security interest in the
funds related to The Herd Retirement Program of Cooperatives
Working Together, a nationwide program that removes dairy cows
from the market in order to stabilize milk prices, and that Ag New
Mexico FCS PCA holds a perfected security interest in the CWT
funds.  Ag New Mexico FCS ACA and Ag New Mexico FCS FLCA have not
made a sufficient showing that their security interests in the CWT
funds are perfected.  The Court also ruled that the amount of the
debt owed by the Defendants to the Plaintiffs is a material fact
as to Count 1 of the Complaint, and that there is genuine dispute
as to the amount of such debt.  As there is a dispute as to
material fact regarding the amount of the debt owed, the
Plaintiffs' request that the Court find that they are entitled to
the CWT funds is not well taken and will be denied.  A copy of the
Court's Sept. 6, 2011 Memorandum Opinion is available at
http://is.gd/BgG6RVfrom Leagle.com.

Joseph B. Borges and Maria R. Borges, both dba J&M Dairy in
Artesia, N.M., filed a joint chapter 11 petition (Bankr. D. N.M.
Case No. 10-12800) on June 1, 2010, and are represented by Wiley
F. James, III, Esq., at James & Haugland, PC, in El Paso, Tex.
The Debtors estimated their asset and debts at less than
$10 million at the time of the filing.


KEELEY AND GRABANSKI: 8th Cir. BAP Affirms Trustee Appointment
--------------------------------------------------------------
The U.S. Bankruptcy Appellate Panel for the Eighth Circuit
affirmed the Bankruptcy Court's order appointing a trustee in
Keeley and Grabanski Land Partnership's involuntary Chapter 11
case.  The BAP said the interests of creditors and the estate
warrant the appointment of a trustee under 11 U.S.C. Sec.
1104(a)(2).  The trustworthiness of KGLP's principals has been
seriously questioned; KGLP's past performance casts serious doubt
on its prospects of reorganization if left under the direction of
Thomas Grabanski; and the evidence suggests that the business
community and creditors have lost all confidence in Thomas
Grabanski's ability to manage KGLP's affairs.

The appellate case is Keeley and Grabanski Land Partnership,
Debtor-Appellant, v. John Keeley; Dawn Keeley; Choice Financial
Group, Petitioning Creditors-Appellees, No. 11-6020 (8th Cir.
BAP).

A copy of the BAP's Sept. 6, 2011 decision is available at
http://is.gd/RMrBZHfrom Leagle.com.

                    About Keeley and Grabanski

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

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

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

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

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

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


LAS VEGAS MONORAIL: Bondholders Have Tentative Deal
---------------------------------------------------
Tim O'Reiley at the Las Vegas Review-Journal reports that a
tentative resolution of a dispute between bondholders could clear
many of the remaining hurdles to the Las Vegas Monorail exiting
bankruptcy.

According to the report, the parties in the case will request
U.S. Bankruptcy Court clearance to ask a Minnesota state court to
approve a deal under which second-tier bondholders will pay
$400,000 from a reserve fund to first-tier bondholders, ending a
complex legal fight that has tied up the monorail case for months.
All other claims the two had made on each other's money will be
dropped.

The report notes the first-tier bonds get that designation because
they take precedence for repayment.  The monorail is worth far
less than the $500.2 million owed on the first-tier bonds, so the
$158.7 million second-tier will be completely wiped out.

However, the first-tier bonds were protected by insurance from
Ambac Assurance Corp. to cover payments if the monorail defaulted.
When Ambac itself wound up in receivership it triggered litigation
in Minnesota, home of second-tier bond trustee U.S. Bank, over
what was left.

Mr. O'Reiley says a third set of uninsured bonds totaling
$49.5 million is also worthless.  The money from all the bonds was
used 11 years ago to buy the original monorail, which ran between
MGM Grand and Bally's, and then extend it north to the Sahara.

He adds that, if U.S. Bankruptcy Court Judge Bruce Markell okays
the bond deal, monorail attorney Gerald Gordon wrote in court
papers filed Sept. 2, "the hearing to approve the (monorail
reorganization) plan will be simplified, taking less time from the
court and counsel."

The report says that reorganization hearing is also slated for
Friday.  If the plan is approved, it would largely end the Chapter
11 case that began in January 2010, when bondholders took over
revenues from ticket sales and dispensed what they thought was
needed to keep operations going.

The report relates that the monorail and the first-tier bond
holders have not yet settled all their differences, said Susan
Freeman, an attorney for Wells Fargo Bank, which serves as the
trustee for the bondholders.  She declined to specify what points
remain, except to say they are in negotiation.

                     About Las Vegas Monorail

Las Vegas, Nevada-based Las Vegas Monorail Company, organized by
the State of Nevada in 2000 as a nonprofit corporation, owns and
manages the Las Vegas Monorail.  The Monorail is a seven-stop,
elevated train system that travels along a 3.9-mile route near the
Las Vegas Strip.  LVMC has contracted with Bombardier Transit
Corporation to operate the Monorail.  Though it benefits from its
tax-exempt status due to being a nonprofit entity, LVMC claims to
be the first privately-owned public transportation system in the
nation to be funded solely by fares and advertising.  LVMC says it
receives no governmental financial support or subsidies.

The Company filed for Chapter 11 bankruptcy protection (Bankr. D.
Nev. Case No. 10-10464) on Jan. 13, 2010.  Gerald M. Gordon, Esq.,
at Gordon Silver, assists the Company in its restructuring effort.
Alvarez & Marsal North America, LLC, is the Debtor's financial
advisor.  Stradling Yocca Carlson & Rauth is the Debtor's special
bond counsel.  Jones Vargas is the Debtor's special corporate
counsel.  The Company disclosed $395,959,764 in assets and
$769,515,450 in liabilities as of the Petition Date.

In May 2010, Ambac Assurance Corp. lost its bid to stay the
bankruptcy case while a district court considers whether the
bankruptcy court wrongly rejected Ambac's argument that Monorail
was a municipality and thus ineligible to be a Chapter 11 debtor.


LEE ENTERPRISES: Pushes Back Due Date of $864 Million Debt
----------------------------------------------------------
Sarah Fenske in a blog at River Front Times reports that Lee
Enterprises, parent company of the St. Louis Post-Dispatch and
other newspapers, announced that the company had gotten an
agreement to push back the due date on some $864 million in debt.

According to the report, the deal is dependent on the Company
refinancing another $175 million in debt -- and the Company
indicated in an announcement that a Chapter 11 bankruptcy
reorganization is not out of the question.  But considering that
Lee's massive debt had been due in April 2012, the news was pretty
good, says Ms. Fenske.

                       About Lee Enterprises

Lee Enterprises, Inc., headquartered in Davenport, Iowa, publishes
the St. Louis Post Dispatch and the Arizona Daily Star along with
more than 40 other daily newspapers and about 300 weeklies.
Revenue for the 12 months ended December 2010 was approximately
$780 million.

The Company's balance sheet at June 26, 2011, showed $1.18 billion
in total assets, $1.26 billion in total liabilities, and a
$75.71 million total deficit.

                           *     *     *

As reported by the Troubled Company Reporter on May 16, 2011,
Standard & Poor's lowered its preliminary corporate credit rating
on Lee to 'B-' from 'B'.  The rating outlook is negative. "The
downgrade is based on the company's significant near-term
maturities and our belief that alternative refinancing options
will likely be costly," said Standard & Poor's credit analyst Hal
F. Diamond.  "We withdrew our 'B' preliminary issue rating on Lee
Enterprises' proposed $680 million first-lien senior secured notes
due 2017 with a preliminary recovery rating of '3' (also
withdrawn), indicating our expectation of meaningful (50%-70%)
recovery for lenders in the event of a payment default," S&P
related.

As reported by the TCR on May 6, 2011, Moody's withdrew its
ratings on Lee after the publisher cancelled a planned refinancing
that would have included the upsizing of its first lien senior
secured notes due 2017 to $680 million from $675 million, and
shifting of the coupon on the $375 million senior secured notes
due 2018 to a cash/PIK combination from all cash.  Moody's had
previously assigned Caa1 Corporate Family Rating on Lee.


LEHR CONSTRUCTION: Trustee Can Retain Davis Graber as Accountants
------------------------------------------------------------------
The Hon. Sean H. Lane of the U.S. Bankruptcy Court for the
Southern District of New York authorized Jonathan L. Flaxer, the
Chapter 11 trustee in the case of Lehr Construction Corp., to
retain Davis, Graber, Plotkzer & Ward LLP as accountants.

As reported in the Troubled Company Reporter on July 22, 2011, as
the trustee's accountant, DGPW will, among other things:

   a) prepare all necessary tax returns and any related auditing
   work and all ancillary services that may be required by the
   trustee;

   b) attend meetings and confer with representatives of the
   trustee and his counsel; and

   c) perform other services that the trustee may deem necessary.

The trustee proposes to compensate DGPW at its customary hourly
rates for services rendered.

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

                    About Lehr Construction

New York-based Lehr Construction Corp. was founded in 1979.  It
specializes in interior construction and serves clients mainly
throughout the New York metropolitan area.  It serves as
construction manager and general contractor for its clients

Lehr filed for Chapter 11 bankruptcy protection (Bankr. S.D.N.Y.
Case No. 11-10723) on Feb. 21, 2011.  James A. Beldner, Esq., at
Cooley LLP, serves as the Debtor's bankruptcy counsel.  The Debtor
estimated its assets and debts at $10 million to $50 million.

Jonathan Flaxer is the Chapter 11 Trustee for Lehr Construction.
He is represented by Douglas L. Furth, Esq., at Goldenbock Eiseman
Assor Bell & Peskoe LLP, in New York.  Wolf Haldenstein Adler
Freeman & Hertz serves as conflicts counsel to the trustee.

Tracy Hope Davis, the U.S. Trustee for Region 2, appointed five
creditors to serve on the Official Committee of Unsecured
Creditors in the Debtor's case.


LEHR CONSTRUCTION: Marotta Gund OK'd as Trustee's Fin'l Advisor
---------------------------------------------------------------
The Hon. Sean H. Lane of the U.S. Bankruptcy Court for the
Southern District of New York authorized Jonathan L. Flaxer, the
Chapter 11 trustee in the case of Lehr Construction Corp., to
retain Marotta Gund Budd & Dzera, LLC, as financial advisor.

As reported in the Troubled Company Reporter on July 22, 2011,
MGBD is expected to, among other things:

   a) assist the trustee in completing the projects, including
   interacting with customers, subcontractors, insurance agents,
   the Debtor's personnel and other parties, and analyzing the
   financial viability of the various projects;

   b) prepare a liquidation and best interests analysis in
   connection with trustee's preparation of a chapter 11 plan and
   disclosure statement for the Debtor; and

   c) assist the trustee with any budgets in connection with
   financing or other matters.

MGBD's fee structure generally consists of these hourly rates:

         Senior Managing Directors                 $650
         Professional Staff                    $200 - $550
         Paraprofessionals                         $150

The trustee notes that MGBD is providing a 10% discount to the
estate for the services rendered.  However, as part of its final
fee application, and solely with the prior consent of the trustee,
MGBD can seek a "success fee" which such "success fee" will not
exceed the discount provided by MGBD due to the reduction of
MGBD's professional fees.

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

                    About Lehr Construction

New York-based Lehr Construction Corp. was founded in 1979.  It
specializes in interior construction and serves clients mainly
throughout the New York metropolitan area.  It serves as
construction manager and general contractor for its clients

Lehr filed for Chapter 11 bankruptcy protection (Bankr. S.D.N.Y.
Case No. 11-10723) on Feb. 21, 2011.  James A. Beldner, Esq., at
Cooley LLP, serves as the Debtor's bankruptcy counsel.  The Debtor
estimated its assets and debts at $10 million to $50 million.

Jonathan Flaxer is the Chapter 11 Trustee for Lehr Construction.
He is represented by Douglas L. Furth, Esq., at Goldenbock Eiseman
Assor Bell & Peskoe LLP, in New York.  Wolf Haldenstein Adler
Freeman & Hertz serves as conflicts counsel to the trustee.

Tracy Hope Davis, the U.S. Trustee for Region 2, appointed five
creditors to serve on the Official Committee of Unsecured
Creditors in the Debtor's case.


LESARRA ATTACHED: Case Conversion Hearing Rescheduled for Sept. 28
------------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Nevada has
rescheduled the hearing to Sept. 28, 2011 at 10:00 a.m., to
consider the motion to convert the Chapter 11 case of Lessara
Attached Homes, L.P., to one under Chapter 7 of the Bankruptcy
Code.

As reported in the Troubled Company Reporter on July 22, 2011, the
Debtor cited that it has no unencumbered assets left and there is
no chance for a successful reorganization.

Reno, Nevada-based Lesarra Attached Homes, L.P., filed for Chapter
11 bankruptcy protection (Bankr. D. Nev. Case No. 10-50808) on
March 12, 2010.  Stephen R. Harris, Esq., at Harris-Petroni, Ltd.,
in Reno, Nevada, represents the Debtor as counsel.  The Company
estimated its assets and liabilities at $10 million to
$50 million.


LEXINGTON HOLDINGS: Case Summary & 13 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Lexington Holdings One, LLC
        550 West Brown Street, Unit #2W
        Birmingham, MI 48009

Bankruptcy Case No.: 11-52526

Chapter 11 Petition Date: September 6, 2011

Court: United States Bankruptcy Court
       Eastern District of Kentucky (Lexington)

Debtor's Counsel: John E Davis, Esq.
                  DAVIS AND COFFMAN, PLLC
                  2343 Alexandria Dr Suite 140
                  Lexington, KY 40504
                  Tel: (859) 219-3472
                  Fax: (859) 219-9432
                  E-mail: jay@davis-coffman.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 13 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/kyeb11-52526.pdf

The petition was signed by Kale K. Roscoe, managing member.


LIONCREST TOWERS: Hearing on Wells Fargo Cash Use Continued Today
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois
has continued until Sept. 13, 2011, at 10:30 a.m., the hearing to
consider Lioncrest Towers LLC's request to use the cash collateral
of Wells Fargo Bank to fund the Debtor's Chapter 11 case, pay
suppliers and other parties.

As reported in the Troubled Company Reporter on Nov. 23, 2010,
Wells Fargo, asserted a senior mortgage lien and against the
Debtor's residential apartment project in Richton Park, Illinois,
known as Park Towers, pursuant to a senior mortgage indebtedness
of $29.50 million.  Wells Fargo also asserted a security interest
in and lien upon, among other things, the rents being generated at
the property.

As adequate protection for any diminution in value of the lenders'
collateral, the Debtor will grant Wells Fargo a valid, perfected,
enforceable and non-avoidable first priority interest in and lien
and mortgage upon all of the Debtor's assets. The Debtor will also
provide the Wells Fargo any reports or other information
concerning any sale or proposed sale of the Debtor's assets, well
as other financial and other information concerning the business,
financial affairs of the Debtor and the operation of the
collateral.  On the 15th day of each month, the Debtor will
provide the Wells Fargo an operating statement and a weekly cash
flow report.

                   About Lioncrest Towers, LLC

Lioncrest Towers, LLC, owns and operates a residential apartment
project in Richton Park, Illinois, known as Park Towers.  It filed
for Chapter 11 bankruptcy protection (Bankr. N.D. Ill. Case No.
10-36805) on Aug. 17, 2010.  Richard H. Fimoff, Esq., at Robbins,
Salomon & Patt, Ltd., in Chicago, assists the Debtor in its
restructuring effort.  The Debtor estimated assets and debts at
$10 million to $50 million.


LIONCREST TOWERS: Hearing on Plan Disclosures Today
---------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois
will convene a hearing today, Sept. 13, 2011, at 10:30 a.m, to
consider adequacy of the Disclosure Statement explaining Lioncrest
Towers LLC's Chapter 11 Plan.

As reported in the Troubled Company Reporter on Aug. 22, 2011, the
Debtor's Disclosure Statement explains that, under the Debtor's
Chapter 11 plan of reorganization, secured creditor Wells Fargo,
owed $29.5 million, will be paid in full.  It will be paid in
monthly installments of interest for five years, plus four annual
principal repayments of $300,000 each, with payment of the unpaid
balance at the end of the fifth year.  Unsecured creditors will
also be paid in full in quarterly installments with interest over
one year.  Unsecured creditors are expected to recover $38,917
plus interest at 5%.  Equity owners will receive no distribution
but will retain its ownership interest.

                   About Lioncrest Towers, LLC

Lioncrest Towers, LLC, owns and operates a residential apartment
project in Richton Park, Illinois, known as Park Towers.  It filed
for Chapter 11 bankruptcy protection (Bankr. N.D. Ill. Case No.
10-36805) on Aug. 17, 2010.  Richard H. Fimoff, Esq., at Robbins,
Salomon & Patt, Ltd., in Chicago, assists the Debtor in its
restructuring effort.  The Debtor estimated assets and debts at
$10 million to $50 million.


LOS ANGELES DODGERS: Files Schedules of Assets and Liabilities
--------------------------------------------------------------
LA Real Estate LLC filed its schedules of assets and liabilities
in the U.S. Bankruptcy Court for the District of Delaware,
disclosing:

Name of Schedule                     Assets         Liabilities
----------------                     ------------   -----------
A. Real Property                      $157,095,217
B. Personal Property                    $4,666,666
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                             $0
E. Creditors Holding
   Unsecured Priority
   Claims                                                     $0
F. Creditors Holding
   Unsecured Non-priority
   Claims                                                     $0
                                     ------------     ----------
      TOTAL                          $161,761,883             $0

Affiliates also filed schedules of assets and liabilities,
disclosing

                                     Assets          Liabilities
                                     ------------    -----------
Los Angeles Dodgers LLC             $77,963,734      $4,695,702
LA Holdco LLC                                 0               0
Los Angeles Dodgers
   Holding Company LLC                         0               0
LA Real Estate Holding Company LLC            0               0

A full-text copy of the schedules of Los Angeles Dodgers LLC is
available for free at

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

A full-text copy of the schedules of LA Real Estate LLC is
available for free at

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

A full-text copy of the schedules of LA Holdco LLC s available for
free at

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

A full-text copy of the schedules of LOS Angeles Dodgers Holding
Company LLC s available for free at

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

A full-text copy of the schedules of LA Real Estate Holding
Company LLC s available for free at

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

                   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 SYNDICATE: Posts $47,200 Net Loss in Second Quarter
---------------------------------------------------------------
Los Angeles Syndicate of Technology, Inc., filed its quarterly
report on Form 10-Q, reporting a net loss of $47,275 on $30,000 of
revenues for the three months ended June 30, 2011, compared with a
net loss of $35,222 on $nil revenue for the same period of 2010.

The Company recorded a change in unrealized depreciation of
investments of $27,374 for the three months ended June 30, 2011,
compared to $124 for the three months ended June 30, 2010.

The Company reported net income of $2.79 million on $57,500 of
revenues for the six months ended June 30, 2011, compared with a
net loss of $80,464 on $nil revenue for the same period of 2010.

The Company recorded a change in unrealized appreciation of
investments of $2.86 million for the six months ended June 30,
2011, compared to a change in unrealized depreciation of $124 for
the six months ended June 30, 2010.

The Company's balance sheet at June 30, 2011, showed
$11.66 million in total assets, $133,676, and net assets of
$11.53 million.

Paritz & Company, P.A., in Hackensack, New Jersey, expressed
substantial doubt about Los Angeles Syndicate of Technology's
ability to continue as a going concern, following the Company's
results for the fiscal year ended Dec. 31, 2010.  The independent
auditors noted that the Company will need to raise capital through
sales of Company stock to provide sufficient cash flow to fund the
Company's operations.

A copy of the Form 10-Q is available at http://is.gd/qy5zhU

The Company reported net income of $5.78 million on $45,000 of
revenues for 2010, compared with a net loss of $345,941 on $nil
revenue for 2009.  The Company recorded a change in unrealized
appreciation of investments $5.85 million for 2010, compared with
$6,949 for 2009.

The Company's balance sheet at Dec. 31, 2010, showed $8.73 million
in total assets, $2.90 million in total liabilities, and net
assets of $5.83 million.

A copy of the Form 10-K/A is available at http://is.gd/KfsA8O

Los Angeles Syndicate of Technology, Inc., headquartered in Las
Vegas, Nev., is a technology incubator that creates, builds, and
invests in web and mobile technology companies.  The Company
develops businesses in digital media, consumer internet, and
social networking, and own six companies at different stages of
development.


M WAIKIKI: Replaces Marriott With New Management Company
--------------------------------------------------------
C. Benjamin Ford, staff writer at Gazette.net, reports that owners
of a Honolulu hotel kicked out its Marriott International
operators and brought in a new management company, a takeover that
the Bethesda hotel said it would fight in court.

According to the report, they were the latest salvos in a dispute
that ignited this spring, when owner M Waikiki LLC of Honolulu
sued Marriott, claiming the hotelier wasn't doing enough to
promote its Edition brand, under which the Hawaiian hotel
operated.

"The owner and its partners raided the hotel literally under cover
of night, forcibly taking over the property and threatening our
employees with dismal unless they immediately agreed to a change
of management," the report quotes Arne Sorenson, Marriott's
president and COO, in a written statement.  "We will aggressively
and vigorously pursue all remedies against the owner and its
partners in this illegal act."

Marriott said M Waikiki still has 29 years remaining under the
current management agreement with Marriott

The report notes Marriott said it will seek compensation from M
Waikiki for damages to the operations and reputation of the hotel,
Marriott and the Edition brand.

Under Marriott's management, the hotel has shown an operating loss
of $6 million so far, with its occupancy rate only 29.5 percent in
last year's fourth quarter, according to the suit.

                       About M Waikiki LLC

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

The Company located at 12250 El Camino Real, Suite 220, filed for
Chapter 11 protection (Bankr. D. Hawaii Case No. 11-02371) on
Aug. 31, 2011.  Judge Robert J. Faris presides over the case.
Patrick J. Neligan, Esq., at Neligan Foley LLP, and Simon
Klevansky, Esq., at Klevansky Piper, LLP, represent the Debtor.
The Debtor listed
both assets and debts of between $100 million and $500 million.


MACCO PROPERTIES: Trustee Taps Sperry Van Ness as Listing Broker
----------------------------------------------------------------
Michael E. Deeba, the appointed Chapter 11 Trustee in the
Chapter 11 case of Macco Properties, Inc., asks the U.S.
Bankruptcy Court for the Western District of Oklahoma for
permission to retain William T. Strange and Associates, LLC, doing
business as Sperry Van Ness to provide professional services in
the Chapter proceedings.

The trustee relates that prior to bankruptcy, Sperry Van Ness had
been hired to list and sale the certain property owned by Reserve
Properties, LLC and Lake Villa LLC, companies owned and managed by
Macco Properties, Inc.  Those listing agreements expired on
May 31, 2011.

Sperry Van Ness will be listing broker/realtor on (i) certain real
property owned by 9900 OV, LLC described as: 11 acres, Section 13,
Township 12 North, Range 5 West, Canadian County, Oklahoma; and
(ii) identified as Reserve on the Lake and Lake Villa located in
two areas described as (1) South of NW 36th Street and West of
Morgan Road and Lake Overholser; and (2) south of U.S. Highway 66
and East of John Kilpatrick Turnpike Extension in Canadian County,
Oklahoma, and  described as: The 129.81 acres (+/-) consisting of
the Planned Unit Development known as Reserve on the Lake (93.32
acres of Section 23, Township 12 North, Range 5 West of the Indian
Meridian, Canadian County, Oklahoma) and the Planned Unit
Development known as Lake Villa (36.49 acres of Section 14,
Township 12 North, Range 5 West Canadian County, Oklahoma).

Sperry Van Ness will also:

   a) evaluate the property of the Debtor's estate; and

   b) instruct and advise the trustee as to a marketing plan for
      and the eventual sale of the property of the Debtor estate.

To the best of the trustee's knowledge, Sperry Van Ness is a
"disinterested person" as that term is defined by Section 101(14)
of the Bankruptcy Code.

The Chapter 11 trustee is represented by:

         Janice D. Loyd, Esq.
         James H. Bellingham, Esq.
         BELLINGHAM & LOYD, P.C.
         620 North Robinson, Suite 207
         Oklahoma City, OK 73102
         Tel: (405) 235-9371
         Fax: (405) 232-1003
         E-mail: jdltrustee@bellinghamloyd.com
                 jbellingham@bellinghamloyd.com

                      About Macco Properties

Oklahoma City, Oklahoma-based Macco Properties, Inc., is a real
estate holding and management company which is the sole member of
numerous limited liability companies.  The limited liability
companies own 27 real estate properties, consisting primarily of
apartment complexes, and commercial office space situated in
Oklahoma and Kansas.

The Company filed for Chapter 11 bankruptcy protection (Bankr.
W.D. Okla. Case No. 10-16682) on Nov. 2, 2010.  Bobbie G. Bayless,
Esq., at Bayless & Stokes, in Houston, and Michael Paul Kirschner,
Esq., at Robertson & Williams, in Oklahoma City, Okla., serve as
the counsel to the Debtors.  The Debtor disclosed $50,823,581 in
total assets, and $4,323,034 in total liabilities.

The Official Unsecured Creditors' Committee is represented by
Ruston C. Welch, at Welch Law Firm, P.C., in Oklahoma City,
Oklahoma.

As reported in the TCR on June 17, 2011, the Bankruptcy Court
approved the appointment of Michael E. Deeba as the Chapter 11
trustee in the case of Macco Properties, Inc.  Richard A. Weiland,
the U.S. Trustee for Region 20, selected Mr. Deeba pursuant to the
order directing the appointment of a Chapter 11 trustee dated May
31, 2011.  Janice Loyd, Esq., represents the Chapter 11 Trustee.


MADDEN CORPORATION: Case Summary & 11 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Madden Corporation
        dba Pams The Delivery Service
        dba National Messenger Service
        733 W. Taft Ave.
        Orange, CA 92865

Bankruptcy Case No.: 11-22572

Chapter 11 Petition Date: September 6, 2011

Court: United States Bankruptcy Court
       Central District Of California (Santa Ana)

Debtor's Counsel: Edward A. Weiss, Esq.
                  700 S Macduff St.
                  Anaheim, CA 92804
                  Tel: (714) 952-3752
                  Fax: (714) 333-9362
                  E-mail: edweiss1@att.net

Scheduled Assets: $693,271

Scheduled Debts: $1,239,903

A list of the Company's 11 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/cacb11-22572.pdf

The petition was signed by Donald L. Madden, president.


MARCO POLO: Creditors Blast DIP Financing as Inside Job
-------------------------------------------------------
Evan Weinberger at Bankruptcy Law360 reports that a slew of
creditors on Friday blasted Marco Polo Seatrade BV's request for
$4.8 million in debtor-in-possession financing in New York
bankruptcy court as a textbook example of insider dealing that
should be blocked.

According to an opposition motion filed in Manhattan by the Royal
Bank of Scotland PLC, the proposed $4.8 million postpetition
financing package Marco Polo has agreed to with Futmarine BV is
actually money that should be going to creditors.

                         About Marco Polo

Marco Polo Seatrade B.V. operates an international commercial
vessel management company that specializes in providing
commercial and technical vessel management services to third
parties.  Founded in 2005, the Company mainly operates under the
name of Seaarland Shipping Management and maintains corporate
headquarters in Amsterdam, the Netherlands.  The primary assets
consist of six tankers that are regularly employed in
international trade, and call upon ports worldwide.

Marco Polo and three affiliated entities filed for Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 11-13634) on July 29,
2011.  The other affiliates are Seaarland Shipping Management
B.V.; Magellano Marine C.V.; and Cargoship Maritime B.V.

Marco Polo is the sole owner of Seaarland, which in turn is the
sole owner of Cargoship, and also holds a 5% stake in Magellano.
The remaining 95% stake in Magellano is owned by Amsterdam-based
Poule B.V., while another Amsterdam company, Falm International
Holding B.V. is the sole owner of Marco Polo.  Falm and Poule
didn't file bankruptcy petitions.

The filings were prompted after lender Credit Agricole Corporate
& Investment Bank seized one ship on July 21, 2011, and was on
the cusp of seizing two more on July 29.  The arrest of the
vessel was authorized by the U.K. Admiralty Court.  Credit
Agricole also attached a bank account with almost US$1.8 million
on July 29.  The Chapter 11 filing precluded the seizure of the
two other vessels.

Evan D. Flaschen, Esq., Robert G. Burns, Esq., and Andrew J.
Schoulder, Esq., at Bracewell & Giuliani LLP, serve as bankruptcy
counsel.  The cases are before Judge James M. Peck.

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


MARFIG ALIMENTOS: High Leverage Cues Fitch to Hold Low-B Ratings
----------------------------------------------------------------
Fitch Ratings affirmed all ratings of Marfrig Alimentos S.A. and
its subsidiaries.  The ratings affirmed were as follows:

Marfrig Alimentos S.A.

  -- Local currency IDR at 'B+';
  -- Foreign currency IDR at 'B+';
  -- National scale rating at 'BBB+(bra)';
  -- BRL 300 million 3rd debentures issue (1st tranche) at 'BBB+
     (bra)';
  -- BRL 300 million 3rd debentures issue (2nd tranche) at 'BBB+
     (bra)'.

Marfrig Overseas Ltd

  -- Foreign currency IDR at 'B+';
  -- US$375 million senior unsecured notes due 2016 at 'B+/RR4';
  -- US$500 million senior unsecured notes due 2020 at 'B+/RR4'.

Marfrig Holdings (Europe) B.V.

  -- Foreign currency IDR at 'B+';
  -- US$750 million senior unsecured notes due 2018 at 'B+/RR4';

The Rating Outlook for all of the aforementioned ratings is
Stable.

The ratings reflect Marfrig's high leverage and negative free cash
flow generation as a result of its aggressive growth strategy, and
incorporate Fitch's expectation of improvement on both counts as a
result of the ongoing shift towards a more conservative financial
strategy and operational improvements.  The ratings also take into
consideration the volatility of protein prices and profit margins
due to factors beyond the company's control.

The ratings are supported by Marfrig's strong business position,
as one of the largest producers and exporters of beef, poultry,
and pork in Brazil and its increasing portfolio of processed foods
(currently about 37% of revenue).  The company's production base
is diversified and its sales are evenly distributed between the
domestic market and export sales, which give it a more diversified
business profile than most of its peers.

Earnings Volatility

Protein prices are volatile by nature as are input costs.  The
company's profit margins reflect this volatility.  Price and cost
volatility is affected by factors beyond the company's control -
domestic and international supply and demand imbalances resulting
from animal disease and weather conditions, global economic
growth, changes in consumption habits, and government-imposed
sanitary and trade restrictions.  Competitive pressures from other
Brazilian or international producers and exporters also affect the
company's margins.

Increasing Processed Food Portfolio Mitigates Risks

Fitch positively considers Marfrig's strategy of reducing pure
protein exposure by increasing its share in processed food
segment, which is less volatile and commands higher margins.  Last
year's acquisition of Keystone Foods LLC (Keystone) strengthened
Marfrig's competitive position in the value-added protein products
market and is consistent with the company's previous acquisition
of Seara food brands.  Keystone produces and distributes to food
service companies in 13 countries, and has a large customer
concentration with McDonald's, which represents 82% of Keystone's
sales.

Weak Free Cash Flow; Expected to Improve in 2012

While Marfrig's aggressive acquisition based growth strategy has
been financed with a mix of debt and equity.  It has led to
increasing working capital requirements and resulted in negative
free cash flow generation over the past few years.  As the
management's focus shifts from growth to improving operations,
working capital management and extracting synergies from prior
acquisitions, FCF is expected to strengthen and turn positive in
2012.

The company is on track to achieving about BRL 200 million
synergies from the integration of Seara in 2011, which partially
offsets challenging conditions in the first half of 2011 due to
higher raw material prices, higher labor expenses and the
appreciation of the Brazilian real against the U.S. dollar.
During the LTM ended June 30, 2011, Marfrig's FCF was negative BRL
2 billion mostly due to weaker results, an increase in the use of
working capital and BRL 1.4 billion of capital expenditures.
Both, capital expenditures and working capital needs are expected
to decline in the second half of 2011 and to remain lower in 2012.

High Leverage, Expected to Improve

As of June 30, 2011, Marfrig's gross and net adjusted debt to
EBITDA was 7.7 times (x) and 4.9x. Considering Keystone's
acquisition (last September), the pro-forma gross and net leverage
ratios of Marfrig are approximately 6.7x and 4.3x, respectively.
Fitch projects an improvement in Marfrig's leverage ratios within
the next year as a result of the more conservative financial
strategy of the management and improvement in the company's
performance in the second half of 2011 due to continuous efforts
to cut cost via plant closures and the realization of acquisition
synergies.

What Would Lead to a Positive/Negative Rating Action:

Marfrig's rating could be positively affected by some combination
of the following: a significant decrease in leverage and sustained
generation of positive FCF. A rating downgrade could be triggered
by a material rise in the company's total debt credit ratios due
to deteriorating operations or continues negative free cash flow
generation resulting from trade restrictions or sanitary outbreaks
or a general weakening of the operating environment.  A debt
financed acquisition, although considered unlikely by Fitch at
this time, could also result in rating deterioration.


MARONDA HOMES: Can Continue Using Lenders' Cash Until Nov. 10
-------------------------------------------------------------
In a second amended order dated Aug. 26, 2011, Judge Judith K.
Fitzgerald of the U.S. Bankruptcy Court for the Western District
of Pennsylvania granted Maronda Homes, Inc., et al., permission to
continue using cash through Nov. 10, 2011, in the form of the net
proceeds received upon closings of the sale of residential homes
built by the Debtors.

If, as of Nov. 10, 2011, the amount of cash collateral collected
from closings that occur between April 18 and Nov. 10 exceeds the
actual or accrued expenditures of the Debtors as authorized by the
Court, the amount of that excess may be applied by the lenders to
the principal loan balance then outstanding under the credit
agreement.

A final hearing on the motion to use cash collateral will be held
on Oct. 28, 2011, at 9:00 a.m.

The Lenders are: Bank of America, N.A., Wells Fargo Bank, N.A.,
Wachovia Bank, National Association, PNC Bank, National
Association, KeyBank National Association, Huntington National
Bank, Fifth Third Bank, Regions Bank, BMO Capital Markets
Financing, Inc., SunTrust Bank, N.A., Compass Bank (as successor
to Guaranty Bank), Compass Bank, Comerica Bank, and U.S. Bank
National Association.

A copy of the Second Amended Order is available at

      http://bankrupt.com/misc/maronda.2ndamendedccorder.pdf

                       About Maronda Homes

Maronda Homes, Inc., based in Clinton, Pennsylvania, near
Pittsburgh, builds homes in Florida, Pennsylvania, Georgia and
Kentucky.  It filed for Chapter 11 bankruptcy protection (Bankr.
W.D. Pa. Case No. 11-22418) on April 18, 2011.  Joseph F.
McDonough, Esq., and James G. McLean, Esq., at Manion Mcdonough &
Lucas, P.C., serve as the Debtor's bankruptcy counsel.  In its
schedule, Maronda Homes, Inc., disclosed $83,784,549 in assets and
$91,773,703 in liabilities.

Affiliates Maronda Homes, Inc. of Ohio (Bankr. W.D. Pa. Case No.
11-22422) and Maronda Homes of Cincinnati, LLC (Bankr. W.D. Pa.
Case No. 11-22424) simultaneously filed separate Chapter 11
petitions on April 18, 2011.


MERCED FALLS: Court Authorizes Aherton & Assoc. as Accountants
--------------------------------------------------------------
The Bankruptcy Court has authorized Merced Falls Ranch LLC to
employ as its accountants:

          ATHERTON & ASSOCIATES
          1140 Scenic Drive
          Modesto, CA 95350
          Tel: 209-577-4800
          Fax: 209-577-1323

Compensation will be at the "lodestar rate" for accounting
services applicable at the time that services are rendered in
accordance with the Ninth Circuit decision in In re Manoa Fin. Co.

Monthly applications for interim compensation pursuant to Section
331 of the Bankruptcy Code will be entertained provided the
accrued fees and costs exceed $5,000 net of fees incurred in
connection with prior fee applications.

Merced Falls Ranch LLC filed a Chapter 11 petition (Bankr. E.D.
Calif. Case No. 11-19212) on Aug. 16, 2011, in Fresno, California.
The Debtor disclosed assets of $100 million to $500 million and
debts of $10 million to $50 million.  Judge W. Richard Lee
presides over the case.  Walter & Wilhelm Law Group serves as the
Debtor's bankruptcy counsel.  The petition was signed by Stephen
W. Sloan, the Debtor's member.


MERCED FALLS: Hires Walter & Wilhelm as Bankruptcy Counsel
----------------------------------------------------------
Merced Falls Ranch LLC has been authorized by the Bankruptcy Court
to employ Walter & Wilhelm Law Group as Chapter 11 counsel.

The firm's attorney billing rates range from $200 to $420 per
hour.  Rates for paralegals and law clerks range from $125 to $150
per hour.

Prior to the petition date, the Debtor paid the firm a $60,000
retainer.  The firm drew down on the retainer, leaving $49,321.

Merced Falls Ranch LLC filed a Chapter 11 petition (Bankr. E.D.
Calif. Case No. 11-19212) on Aug. 16, 2011, in Fresno, California.
The Debtor disclosed assets of $100 million to $500 million and
debts of $10 million to $50 million.  Judge W. Richard Lee
presides over the case.  Walter & Wilhelm Law Group serves as the
Debtor's bankruptcy counsel.  The petition was signed by Stephen
W. Sloan, the Debtor's member.


MERUELO MADDUX: Former CEO, President Want $3MM in Unpaid Wages
---------------------------------------------------------------
Lisa Uhlman at Bankruptcy Law360 reports that Meruelo Maddux
Properties Inc.'s former president and its ex-CEO told a
California federal judge Thursday that the reorganized developer
owes them more than $3 million total in unpaid wages.

In similar motions for administrative claims, former President
John Charles Maddux claims the company has refused to pay him
$538,000 in cash bonuses and expenses, while former CEO Richard
Meruelo is seeking $563,425 in bonuses and $2 million in severance
payments, wages and fees, according to Law360.

                       About Meruelo Maddux

Meruelo Maddux and its affiliates filed for Chapter 11 protection
(Bankr. C.D. Calif. Lead Case No. 09-13356) on March 26, 2009.
John N. Tedford, IV, Esq., and Enid M. Colson, Esq., at Danning
Gill, Diamond & Kollitz, LLP, in Los Angeles, represent the
Debtors in their restructuring effort.  The Debtors' financial
condition as of Dec. 31, 2008, showed $681,769,000 in assets and
$342,022,000 of debts.

FTI Consulting, Inc., serves as the Debtors' financial advisors,
Ernst & Young as independent auditors and tax advisors, DLA Piper
LLP (US) as special securities and litigation counsel, and Waldron
& Associates, Inc. as real estate appraiser.

The U.S. Trustee has appointed an official committee of unsecured
creditors and a separate official shareholders' committee in the
case.  SulmeyerKupetz, APC, serves as the Creditors Committee's
counsel and Kibel Green, Inc., as its financial advisor.  The
equity committee has sought to retain Ron Orr & Professionals,
Inc., Rodiger Law Office, and Jenner & Block as counsel, and Kibel
Green, Inc. as its financial advisor.  The Debtors have hired
Kurtzman Carson Consultants as solicitation and balloting agent.

The Debtors; Legendary Investors Group No. 1, LLC, and East West
Bank; and Charlestown Capital Advisors, LLC and Hartland Asset
Management Corporation have proposed rival reorganization plans in
the case.  In mid-January 2011, the Debtors struck a deal with the
Legendary Group to drop the group's competing plan.

Legendary Investors Group No. 1, LLC, is represented in the case
by Jeremy V. Richards, Esq., and Jeffrey W. Dulberg, Esq., at
Pachulski Stang Ziehl & Jones LLP; and Surjit P. Soni, Esq., at
The Soni Law Firm.  East West Bank is represented by Curtis C.
Jung, Esq., and Monica H. Lin, Esq., at Jung & Yuen, LLP, and
Elmer Dean Martin III, Esq.

Charlestown Capital Advisors, LLC and Hartland Asset Management
Corporation are represented in the case by Christopher E. Prince,
Esq., Matthew A. Lesnick, Esq., and Andrew R. Cahill, Esq., at
Lesnick Prince LLP.


MITRAN INC: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: Mitran, Inc.
        dba Mr. Transmission/Milex
        P.O. Box 5239
        Beaumont, TX 77726-5239

Bankruptcy Case No.: 11-10525

Chapter 11 Petition Date: September 5, 2011

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

Debtor's Counsel: Margaret M. McClure, Esq.
                  LAW OFFICE OF MARGARET M. MCCLURE
                  909 Fannin Street, Suite 3810
                  Houston, TX 77010
                  Tel: (713) 659-1333
                  Fax: (713) 658-0334
                  E-mail: margaret@mmmcclurelaw.com

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

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

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

The petition was signed by Gordon J. Ricossa, president.


MOHEGAN TRIBAL: Mario Kontomerkos Appointed as CFO
--------------------------------------------------
The Mohegan Tribal Gaming Authority appointed Mario C. Kontomerkos
as Chief Financial Officer of the Authority, replacing Leo M.
Chupaska, who has been appointed as the Vice President of Investor
Relations of the Authority.

Mr. Kontomerkos, age 35, was the Corporate Vice President of
Finance of Penn National Gaming, Inc., from March 2010 to July
2011.  Prior to that, Mr. Kontomerkos served as a senior investor
at Magnetar Capital LLC, an investment management company, from
July 2007 to May 2009, and was a research analyst for the gaming
and lodging industries at J.P. Morgan Securities from May 2005 to
May 2007.

In connection with his appointment as Chief Financial Officer of
the Authority, Mr. Kontomerkos entered into an employment
agreement, effective Sept. 1, 2011.  Mr. Kontomerkos's annual base
salary under the employment agreement is $675,000, subject to an
annual increase commencing Jan. 1, 2013, at the discretion of the
Authority.  The agreement also provides for a relocation payment
of $100,000, payable on the effective date.  The agreement expires
on Dec. 31, 2014, subject to automatic renewal for an additional
term of three years unless either party provides notice to the
other on or before the 180th day prior to the end of the
agreement's stated term of an intention to terminate at the stated
termination date.

The employment agreement provides that, if Mr. Kontomerkos is
terminated for cause, or if Mr. Kontomerkos terminates his
employment voluntarily, then he will not be entitled to any
further compensation and, if such termination occurs within one
year of the effective date of the agreement, Mr. Kontomerkos will
be required to reimburse the Authority the unamortized portion of
the relocation payment, amortized on a straight line basis over
the one year period after the effective date.  If Mr. Kontomerkos
is terminated other than for cause, he will be entitled to receive
his annual salary from the date of termination to the expiration
date of the agreement, without regard to any renewal right after
the date of termination.

The employment agreement further provides that Mr. Kontomerkos may
not, without prior written consent, compete with the Authority in
specified states in the northeastern United States during the term
of his employment and for a one-year period following termination
of employment.  Also, during this period, Mr. Kontomerkos may not
hire or solicit other employees of the Authority or encourage any
such employees to leave employment with the Authority.

A full-text copy of the Employment Agreement is available for free
at http://is.gd/vjwSgt

                       About Mohegan Tribal

Headquartered in Uncasville, Conn., Mohegan Tribal Gaming
Authority conducts and regulates gaming activities on Tribal
lands, which are federally recognized Indian tribe reservations in
southeastern Connecticut.

The Authority has noted that its Bank Credit Facility matures on
March 9, 2012 and its 2002 Senior Subordinated Notes mature on
April 1, 2012.  In addition, a substantial portion of the
Authority's remaining indebtedness matures over the following
three fiscal years.  The Authority believes that it will need to
refinance all or part of its indebtedness at or prior to each
maturity thereof in order to maintain sufficient resources for its
operations.  The Authority has engaged Blackstone Advisory
Partners, L.P. to assist in its strategic planning relating to its
debt maturities.

The Company's balance sheet at June 30, 2011, showed $2.17 billion
in total assets, $1.99 billion in total liabilities, and
$176.04 million in total capital.

                           *     *     *

At the end of November 2010, Moody's Investors Service downgraded
Mohegan Tribal Gaming Authority's Corporate Family and Probability
of Default ratings to Caa2 from B3.  All of MTGA's rated long-term
debt was also lowered.  The rating outlook is negative.

The ratings downgrade reflects Moody's view that MTGA could
find it difficult to refinance significant upcoming debt
maturities without some impairment to bondholders given its high
leverage -- debt/EBITDA is over 7 times -- limited near-term
growth prospects for Mohegan Sun Casino, the likely continuation
of weak consumer gaming demand trends in the Northeastern U.S.,
and the strong possibility of gaming in Massachusetts.  The
company's $675 million revolver ($527 million outstanding at
Sept. 30, 2010) expires in March 2012 and its $250 million 8%
senior subordinated notes mature in April 2012.  Combined, these
debt items account for about 50% of MTGA's total debt outstanding.

MTGA has announced that it hired Blackstone Group to help deal
with its capital structure issues, although no details have been
made available regarding MTGA's options.  Given the company's
recently announced weak fiscal fourth quarter results along with
the significant near- and long-term challenges previously
mentioned, Moody's believes a restructuring that involves some
impairment to bondholders will be considered.

The negative ratings outlook reflects the relatively short time
frame in which MTGA has to address what Moody's believes to be a
significant capital structure issue.  If MTGA is not able to
refinance by March 2011 its $675 million revolver will be become
current.  The same holds true for the company's $250 million 8%
senior subordinated notes to the extent these notes are not
refinanced by April 1, 2011.


MSR RESORT: Settlement Deal on Club Membership Agreements OK'd
--------------------------------------------------------------
The Hon. Sean H. Lane of the Bankruptcy Court for the Southern
District of New York approved MSR Resort Golf Course LLC, et al.'s
settlement agreement.

The terms of the settlement agreement (i) changes the terms of the
membership agreements with the members of the Clubs at PGA West
and the Citrus Club; and (ii) authorizes the Debtors to assume the
membership agreements with the members of the Clubs at PGA West
and the Citrus Club.

The Annual Refund Caps for 30-Year Refunds and Death Refunds, is
approved with respect to and binding upon all members; provided,
however, current Resign Members (i.e., members who have given
proper notice of their resignation to the applicable Club as of
the date of the entry of the Order) will have 30 days to opt out
of the terms providing for 50% reduction of their Resign Refunds
as:

   a) within seven days from the entry of the Order, the Debtors
   will provide current Resign Members with (i) comprehensive
   notice that they have 30 days to opt out of the 50% reduction
   of their Resign Refunds and (ii) an opt-out election form,
   which will be accompanied by an explanatory letter from the
   applicable Club;

   b) for any current Resign Member who opts out of the 50%
   reduction of his or her Resign Refunds, the Debtors will, on or
   before the effective date of a plan either:

   i. assume such Resign Member's membership agreement under the
   terms of the pre-settlement Membership Plans, including resign
   list treatment that (A) allows for Resign List Ratios of up to
   5-for-1 at PGA West and 4-for-1 at the Citrus Club and (B) does
   not count memberships outside of the same class of membership;
   or

  ii. reject such Resign Member's membership agreement and treat
   him or her as a holder of a claim against the applicable
   Debtor's estate to be paid at its present value; and

   c) upon the expiration of the 30-day opt-out period, the
   Debtors will have an additional seven days to determine
   whether, in their sole discretion, based on the number and
   amount of opt-outs, the Debtors will terminate or proceed with
   the Settlement Agreement.

The Court also ordered that the terms of the Settlement Agreement
will authorize, but not direct, the Debtors to modify the
Membership Agreements and related membership plans as of Sept. 1,
2011.

                         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.


MSR RESORT: Miller Buckfire to Receive $2MM as Partial Settlement
-----------------------------------------------------------------
The Hon. Sean H. Lane of the U.S. Bankruptcy Court for the
Southern District of New York approved the agreement between MSR
Resort Golf Course LLC, et al., and Miller Buckfire & Co. LLC,
settling the creditor's claims that they owed it for restructuring
work it did before their Chapter 11 filing.

The Court ordered that Miller Buckfire will be entitled to a
$4,000,000 allowed, general unsecured claim that will be allocated
among one or more of the Debtors.

As partial satisfaction of the settlement claim, the Debtors will
pay to Miller Buckfire, by wire transfer in immediately available
funds, the amount of $2,000,000.

A full-text copy of the order and the settlement agreement is
available for free at

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

                         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.


NEBRASKA BOOK: Committee Can Hire Lowenstein Sandler as Co-Counsel
------------------------------------------------------------------
The Hon. Peter J. Walsh U.S. Bankruptcy Court for the District of
Delaware authorized the Official Committee of Unsecured Creditors
in the Chapter 11 cases of Nebraska Book Company, Inc., et al., to
retain Lowenstein Sandler PC as co-counsel.

                    About Nebraska Book Company

Lincoln, Nebraska-based Nebraska Book Company, Inc., is one of the
leading providers of new and used textbooks for college students
in the United States.  Nebraska Book and seven affiliates filed
separate Chapter 11 petitions (Bankr. D. Del. Case Nos. 11-12002
to 11-12009) on June 27, 2011.  Hon. Peter J. Walsh presides over
the case.  lawyers at Kirkland & Ellis LLP and Pachulski Stang
Ziehl & Jones LLP, serve as the Debtors' bankruptcy counsel.  The
Debtors; restructuring advisors are AlixPartners LLC; the
investment bankers are Rothschild, Inc.; the auditors are Deloitte
& Touche LLP; and the claims agent is Kurtzman Carson Consultants
LLC.  As of the petition date, the Debtors had consolidated assets
of $657,215,757 and debts of $563,973,688.

JPMorgan Chase Bank N.A., as administrative agent for the DIP
lenders, is represented by lawyers at Richards, Layton & Finger,
P.A., and Simpson Thacher & Bartlett LLP.  J.P. Morgan Investment
Management Inc., the DIP arranger, is represented by lawyers at
Bayard, P.A., and Willkie Farr & Gallagher LLP.

The U.S. Trustee appointed in the Chapter 11 case of Nebraska Book
Co. an official creditors' committee composed of two indenture
trustees and three trade suppliers.  U.S. Bank NA and Bank of New
York Mellon Trust Co. NA are the indenture trustees.  The trade
creditors include subsidiaries of jeans maker VF Corp. and
publisher Reed Elsevier Group Plc.

An ad hoc committee of holders of more than 50% of the Debtors'
Second Lien Notes is represented by lawyers at Brown Rudnick.  An
ad hoc committee of holders of the Debtors' 8.625% unsecured
notes are represented by Milbank, Tweed, Hadley & McCloy LLP.


NEBRASKA BOOK: Creditors Panel Taps Mesirow Financial as Advisors
-----------------------------------------------------------------
The Hon. Peter J. Walsh U.S. Bankruptcy Court for the District of
Delaware authorized the Official Committee of Unsecured Creditors
in the Chapter 11 cases of Nebraska Book Company, Inc., et al., to
retain Mesirow Financial Consulting, LLC as its financial
advisors.

As reported in the Troubled Company Reporter on Aug. 1, 2011, the
hourly rates of Mesirow Financial's personnel are senior managing
director, managing director and director at $775 to $825, senior
vice president at $665 to $725, vice president at $565 to $625,
senior associate at $465 to $525, associate at $285 to $395, and
paraprofessional at $145 to $240.

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

                    About Nebraska Book Company

Lincoln, Nebraska-based Nebraska Book Company, Inc., is one of the
leading providers of new and used textbooks for college students
in the United States.  Nebraska Book and seven affiliates filed
separate Chapter 11 petitions (Bankr. D. Del. Case Nos. 11-12002
to 11-12009) on June 27, 2011.  Hon. Peter J. Walsh presides over
the case.  lawyers at Kirkland & Ellis LLP and Pachulski Stang
Ziehl & Jones LLP, serve as the Debtors' bankruptcy counsel.  The
Debtors; restructuring advisors are AlixPartners LLC; the
investment bankers are Rothschild, Inc.; the auditors are Deloitte
& Touche LLP; and the claims agent is Kurtzman Carson Consultants
LLC.  As of the petition date, the Debtors had consolidated assets
of $657,215,757 and debts of $563,973,688.

JPMorgan Chase Bank N.A., as administrative agent for the DIP
lenders, is represented by lawyers at Richards, Layton & Finger,
P.A., and Simpson Thacher & Bartlett LLP.  J.P. Morgan Investment
Management Inc., the DIP arranger, is represented by lawyers at
Bayard, P.A., and Willkie Farr & Gallagher LLP.

The U.S. Trustee appointed in the Chapter 11 case of Nebraska Book
Co. an official creditors' committee composed of two indenture
trustees and three trade suppliers.  U.S. Bank NA and Bank of New
York Mellon Trust Co. NA are the indenture trustees.  The trade
creditors include subsidiaries of jeans maker VF Corp. and
publisher Reed Elsevier Group Plc.  The committee selected
Lowenstein Sandler LLP as lawyer.

An ad hoc committee of holders of more than 50% of the Debtors'
Second Lien Notes is represented by lawyers at Brown Rudnick.  An
ad hoc committee of holders of the Debtors' 8.625% unsecured
notes are represented by Milbank, Tweed, Hadley & McCloy LLP.


NEBRASKA BOOK: Can Hire Deloitte & Touche as Independent Auditors
-----------------------------------------------------------------
The Hon. Peter J. Walsh U.S. Bankruptcy Court for the District of
Delaware authorized Nebraska Book Company, Inc., et al., to employ
Deloitte & Touche LLP as independent auditors.

As reported in the Troubled Company Reporter on Sept. 1, 2011,
Deloitte & Touche will perform a financial statement audit,
including preparing a report, as described in PCAOB Statements
on Auditing section 623.19.21 (a "Negative Assurance Report") as
specified in the Engagement Letter, for the year ending March 31,
2011.  In addition, the independent auditors will perform reviews
of the Debtors' condensed interim financial information for
each of the quarters in the year ending March 31, 2012.

The Debtors agreed to pay Deloitte & Touche fees estimated to be
$222,500, plus expenses.

The hourly rates charged by Deloitte & Touche's professionals are:

   Partner, Principal, or Director      $255
   Senior Manager                       $210
   Manager                              $190
   Senior                               $140
   Staff                                $115
   Tax Specialists                      $200
   Valuation Specialists                $200

Deloitte & Touche provided prepetition services to the Debtors.
The Debtors paid Deloitte & Touche approximately $104,500 in the
90 days prior to the Petition Date.  The Debtors owed Deloitte &
Touche approximately $75,000 as of the Petition Date, which amount
Deloitte & Touche agrees to waive subject to and contingent upon
the Court's approval of this application.  An affiliate of
Deloitte & Touche, Deloitte Tax LLP, has also provided prepetition
tax services to the Debtors for which it is owed approximately
$41,512.

To the best of the Debtors' knowledge: (a) Deloitte & Touche is a
"disinterested person" within the meaning of section 101(14) of
the Bankruptcy Code,and does not hold or represent an interest
adverse to the Debtors' estates; and (b) Deloitte & Touche has no
connection to the Debtors, their creditors, or other significant
parties as were identified by the Debtors and provided to Deloitte
& Touche.

                    About Nebraska Book Company

Lincoln, Nebraska-based Nebraska Book Company, Inc., is one of the
leading providers of new and used textbooks for college students
in the United States.  Nebraska Book and seven affiliates filed
separate Chapter 11 petitions (Bankr. D. Del. Case Nos. 11-12002
to 11-12009) on June 27, 2011.  Hon. Peter J. Walsh presides over
the case.  lawyers at Kirkland & Ellis LLP and Pachulski Stang
Ziehl & Jones LLP, serve as the Debtors' bankruptcy counsel.  The
Debtors; restructuring advisors are AlixPartners LLC; the
investment bankers are Rothschild, Inc.; the auditors are Deloitte
& Touche LLP; and the claims agent is Kurtzman Carson Consultants
LLC.  As of the Petition Date, the Debtors had consolidated assets
of $657,215,757 and debts of $563,973,688.

JPMorgan Chase Bank N.A., as administrative agent for the DIP
lenders, is represented by lawyers at Richards, Layton & Finger,
P.A., and Simpson Thacher & Bartlett LLP.  J.P. Morgan Investment
Management Inc., the DIP arranger, is represented by lawyers at
Bayard, P.A., and Willkie Farr & Gallagher LLP.

An ad hoc committee of holders of more than 50% of the Debtors'
Second Lien Notes is represented by lawyers at Brown Rudnick.  An
ad hoc committee of holders of the Debtors' 8.625% unsecured
notes are represented by Milbank, Tweed, Hadley & McCloy LLP.

The Official Committee of Unsecured Creditors selected Lowenstein
Sandler LLP and Stevens & Lee, P.C., as lawyers and Mesirow
Financial Inc. as financial advisers.

Nebraska Book has prepared a pre-packaged Chapter 11 plan that
would swap some of the existing debt for new debt, cash and the
new stock.


NEBRASKA BOOK: Committee Can Hire Stevens & Lees as Co-Counsel
--------------------------------------------------------------
The Hon. Peter J. Walsh U.S. Bankruptcy Court for the District of
Delaware authorized the Official Committee of Unsecured Creditors
in the Chapter 11 cases of Nebraska Book Company, Inc., et al., to
retain Stevens & Lees, P.C. as co-counsel.

As reported in the Troubled Company Reporter on Aug. 16, 2011,
Steven & Lee as its co-counsel, will advise the Committee and
represent it with respect to proposals and pleadings submitted by
the Debtors or others to the Court.

The firm's professionals and their compensation rates:

   Joseph H. Huston, Jr., shareholder       $610
   Maria Aprile Sawczuk, of counsel         $425
   Paralegal & legal Assistants         $110 - $200

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

                    About Nebraska Book Company

Lincoln, Nebraska-based Nebraska Book Company, Inc., is one of the
leading providers of new and used textbooks for college students
in the United States.  Nebraska Book and seven affiliates filed
separate Chapter 11 petitions (Bankr. D. Del. Case Nos. 11-12002
to 11-12009) on June 27, 2011.  Hon. Peter J. Walsh presides over
the case.  Lawyers at Kirkland & Ellis LLP and Pachulski Stang
Ziehl & Jones LLP, serve as the Debtors' bankruptcy counsel.  The
Debtors; restructuring advisors are AlixPartners LLC; the
investment bankers are Rothschild, Inc.; the auditors are Deloitte
& Touche LLP; and the claims agent is Kurtzman Carson Consultants
LLC.  As of the petition date, the Debtors had consolidated assets
of $657,215,757 and debts of $563,973,688.

JPMorgan Chase Bank N.A., as administrative agent for the DIP
lenders, is represented by lawyers at Richards, Layton & Finger,
P.A., and Simpson Thacher & Bartlett LLP.  J.P. Morgan Investment
Management Inc., the DIP arranger, is represented by lawyers at
Bayard, P.A., and Willkie Farr & Gallagher LLP.

An ad hoc committee of holders of more than 50% of the Debtors'
Second Lien Notes is represented by lawyers at Brown Rudnick.  An
ad hoc committee of holders of the Debtors' 8.625% unsecured
notes are represented by Milbank, Tweed, Hadley & McCloy LLP.


NEW HOPE: U.S. Trustee Wants Case Converted to Ch. 7 Liquidation
----------------------------------------------------------------
James Haggerty at The Times Tribune reports that Gregory Schiller,
the U.S. trustee in the Chapter 11 bankruptcy of Scranton-based
New Hope Personal Care Homes Inc., recently filed a motion to
convert the case to Chapter 7 liquidation.

According to the report, Mr. Schiller's action followed a state
official's inspection revealing the presence of bed bugs and
addiction-treatment patients preparing meals for residents at
Pennswood Manor and an infestation of flies and a patient
afflicted with an infectious skin ailment at Mountainside Manor.

If the judge approves the conversion to a liquidation,
Mr. Schiller wrote, the state can intervene to relocate residents
of the two facilities to other licensed establishments, the report
notes.

U.S. Bankruptcy Judge Robert N. Opel has scheduled a hearing on
the motion for Oct. 13, 2011.

New Hope Personal Care Homes, Inc., formerly New Hope Home Health
Care, Inc., operates Pennswood Manor on Cedar Avenue in Scranton,
Pa., and Mountainside Manor in Dallas, Pa.

New Hope filed a Chapter 11 petition (Bankr. M.D. Pa. Case No. 11-
04036) on June 1, 2011.  The Debtor estimated assets and
liabilities of $500,000 to $1 million.


NEW JERSEY DEVILS: Missed Sept. 1 Loan Payment; Bankruptcy Looms
----------------------------------------------------------------
Josh Kosman, writing for The New York Post, reports that the New
Jersey Devils missed its Sept. 1 loan payment, giving its lenders
a breakaway chance to push the team into bankruptcy, a source with
direct knowledge of the situation said.

The report also said the team's financial hardships could also
affect Newark's four-year-old Prudential Center, the Devils' home
arena.  Team-owned Devils Arena Entertainment operates the $375
million building and guarantees the Devils' loans and, therefore,
is in danger of also going bankrupt.

The Devils' principal owners are Jeff Vanderbeek and Ray Chambers,
each of whom owns 47% of the franchise.  According to the Post,
Mr. Chambers, through his Brick City Hockey unit, has been trying
to sell his non-controlling stake in the franchise for a year.
The report further says the efforts of Mr. Chambers and Moag &
Co., a Baltimore investment bank, have been unsuccessful, despite,
a source said, cutting their asking price 20% to $200 million.

Forbes estimated the Devils were worth $218 million, No. 11 in the
league, down 2% from 2010. The team is ranked No. 25 in
attendance.

According to the Post, if the Devils, who along with the arena
operation company, owe 15% more than the team is worth, according
to Forbes, are declared bankrupt -- and one source speculates that
has already happened -- lenders cannot repossess the team and
force a sale for at least 180 days.

The report relates the Devils' past-due loan payment of roughly
$100 million is owed to a CIT-led lending group.  Devils Arena
Entertainment owes $180 million, the source said.

Sources also told the Post the bank lenders want nothing to do
with Mr. Vanderbeek, adding that they have been upset with how
late they have been with financial information.  The source said
some lenders are already considering selling their stakes to
vulture investors.

The New Jersey Devils are a three-time champion in the National
Hockey League.


NEXITY FINANCIAL: U.S. Trustee Directed to Name Chapter 7 Trustee
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware directed
the U.S. Trustee to appoint Chapter 7 trustee to oversee Nexity
Financial Corporation's Chapter 7 bankruptcy case.

As reported in the Troubled Company Reporter on June 6, 2011, the
Debtor asked the Court to (i) convert its case to one under
Chapter 7 of the Bankruptcy Code; and (ii) to direct the U.S.
Trustee to appoint a Chapter 7 trustee.

The Debtor submitted that conversion of the Chapter 11 case is
appropriate given its inability to confirm the prepackaged plan.
The Debtor adds that with the closing of Nexity Bank, the Debtor
has no remaining ability to reorganize.  Moreover, the Debtor does
not believe that the value of its remaining funds is sufficient to
fund the drafting and solicitation of a chapter 11 liquidating
plan, or to make any distributions to creditors thereunder.

                About Nexity Financial Corporation

Nexity Financial Corporation -- http://www.nexitybank.com/--
provides capital and support services for community banks.  Its
bank subsidiary, Nexity Bank, is operating under a cease and
desist order issued by regulators.  Birmingham, Alabama-based
Nexity had net losses of $26 million in 2009 and $13 million in
2008.

The Company filed for Chapter 11 bankruptcy protection (Bankr. D.
Del. Case No. 10-12293) on July 22, 2010.  Drew G. Sloan, Esq.;
Mark D. Collins, Esq.; and Michael Joseph Merchant, Esq., at
Richards Layton & Finger, assist the Company in its restructuring
effort.  The Company estimated its assets and debts at $10 million
to $50 million as of the Petition Date.

The U.S. Trustee did not establish an Official Committee of
Unsecured Creditors due to insufficient interest.


NICHOLAS NARDUCCI: Seeks to Restructure Debts Under Bankruptcy
--------------------------------------------------------------
Alisha A. Pina at the Providence Journal reports that City
Councilman Nicholas J. Narducci Jr. is in bankruptcy proceedings,
seeking to have his and his wife's debts, including their
mortgage, restructured.

According to the report, Mr. Narducci filed for Chapter 13
bankruptcy in February.  He said Wednesday that his personal life
is "nobody's business," but "I have problems just like everybody
else.  I'm not a rich person.  I'm doing what I have to do to save
my house and family."

In their initial filing, the Mr. Narduccis listed debts totaling
$242,731.

The report says the Narduccis' combined annual income is nearly
$105,000, with about $6,000 of monthly take home pay, court
filings state.  Nicholas Narducci's council compensation and
salary from the Narragansett Bay Commission are listed as well as
Valerie Narducci's wages from the Providence Water Supply Board.

HSBC Finance Corp., the mortgage holder, objects to the change,
stating the Narduccis have "failed to provide an appraisal" that
proves $125,000 is fair market value.  The land and the house,
built in 1885, are assessed at $159,000.

The report relates that the mortgage company also says the couple
is behind nearly $31,000, including nine missed mortgage payments
of $1,964, each from June 2010 to February 2011, and payments the
company made to the city for taxes.  The company started
foreclosure in November 2010, and advertised the house to be
auctioned on Valentine's Day, but the auction didn't take place.

In the court filings, the Narduccis assert they are behind only
$11,000 on their mortgage.

Other than the mortgage, listed debts for the Narduccis include a
$387 monthly car payment for their Hyundai, a $3,500 National Grid
gas bill, a $300 cell-phone bill and a $6,238 bill for Kay
Jewelers.  Earlier filings also show the couple lost $3,500 this
year to gambling.

The report notes the trustee's current plan calls for the
Narduccis to make $350 monthly payments to the court for 42
months.  Nicholas Narducci said he is following the plan, and
making the mortgage payments, while the principal modification is
being considered.


OPTI CANADA: Alberta Court Sanctions CCAA Master Plan
-----------------------------------------------------
OPTI Canada Inc. announced Wednesday that the Court of Queen's
Bench of Alberta has granted an order approving the Company's
Master Plan pursuant to the Companies' Creditors Arrangement Act
and the Canada Business Corporations Act.  The Sanction Order was
granted following a meeting of the holders of the Company's 7.875%
and 8.25% senior secured notes due Dec. 15, 2014, held earlier
Wednesday at which Second Lien Noteholders voted overwhelmingly in
favor of a resolution to approve the Company's Master Plan.

At the Noteholders' Meeting, the Master Plan was approved by a
majority of Second Lien Noteholders, present in person or by
proxy, who collectively hold 99.97% of the aggregate principal
amount of outstanding Second Lien Notes that were voted at the
meeting.

The Company's Master Plan provides for the alternate
implementation of either an Acquisition Plan or a Recapitalization
Plan.  Pursuant to the Acquisition Plan, all of the Second Lien
Notes will be transferred and assigned by the Second Lien
Noteholders to CNOOC International in exchange for a net cash
payment of approximately US$1.179 billion, and all of the OPTI
common shares held by OPTI shareholders will be transferred to
CNOOC Luxembourg S.a r.l in exchange for a cash payment to such
shareholders of US$0.12 per share.  Under the Recapitalization
Plan, OPTI would proceed with a capital reorganization in which,
among other steps, the Second Lien Notes would be exchanged for
new common shares of OPTI, the existing equity of OPTI would be
canceled and existing shareholders would receive warrants
exercisable for new common shares of OPTI.

It is anticipated that the Acquisition Plan will become effective
in the fourth quarter of 2011, following the receipt of all
governmental and other approvals and after all other conditions to
closing have been satisfied or waived.  If the Acquisition Plan is
not completed or is otherwise terminated, the Master Plan provides
that OPTI will pursue the Recapitalization Plan.

                         Sanction Order

Following the Noteholders' Meeting, OPTI applied for and was
granted the Sanction Order by the Court.  The Sanction Order
declares that each of the Master Plan, the Acquisition Plan and
the Recapitalization Plan is approved and declared to be
substantively and procedurally fair and reasonable to the Second
Lien Noteholders and existing OPTI shareholders and is in the best
interests of OPTI and all affected parties.  The Sanction Order
also authorizes and directs the Company to take all steps and
actions necessary or appropriate to implement the terms of the
Master Plan.

                        About OPTI Canada

OPTI Canada Inc. (TSXV: OPC) -- http://www.opticanada.com/-- is a
Calgary, Alberta-based company focused on developing major oil
sands projects in Canada.  Its first project, the Long Lake
Project, has a design capacity for 72,000 barrels per day (bbl/d),
on a 100 percent basis, of SAGD (steam assisted gravity drainage)
oil production integrated with an upgrading facility.  The
Upgrader uses the Company's  proprietary OrCrude(TM) process,
combined with commercially available hydrocracking and
gasification.  Through gasification, this configuration
substantially reduces the exposure to and the need to purchase
natural gas.  On a 100 percent basis, the Project is designed to
produce up to 58,500 bbl/d of products, primarily 39 degree API
Premium Sweet Crude (PSC(TM)).  Due to its premium
characteristics, the Company expects PSC(TM) to sell at a price
similar to West Texas Intermediate (WTI) crude oil.  The Long Lake
Project is a joint venture between OPTI and Nexen Inc.  OPTI holds
a 35 percent working interest in the joint venture.  Nexen is the
sole operator of the Project.

On July 13, 2011, the Company announced that it had commenced a
creditor protection proceeding (the CCAA Proceeding) in the Court
under the CCAA.  The transaction will be effected by way of a plan
of reorganization, compromise and arrangement (the Master Plan)
through concurrent proceedings under the Companies' Creditors
Arrangement Act (the CCAA) and the Canada Business Corporations
Act (the CBCA).

The Company's balance sheet at June 30, 2011, showed
C$3.99 billion in total assets, C$2.95 billion in total
liabilities and C$1.04 billion in total equity.

A full-text copy of the Company's interim financial statements is
available for free at http://is.gd/eTKlF2


OTTILIO PROPERTIES: Has Until Sept. 16 to File Schedules
--------------------------------------------------------
The Hon. Morris Stern of the U.S. Bankruptcy Court for the
District of New Jersey extended until Sept. 16, 2011, Ottilio
Properties, LLC's time to file the balance of its bankruptcy
petition and schedules.

Totowa, New Jersey-based Ottilio Properties, LLC, filed a Chapter
11 petition (Bankr. D.N.J. Case No. 11-34641) on Aug. 18, 2011, in
Newark, New Jersey.  Glenn R. Reiser, Esq., at LoFaro and Reiser,
LLP, in Hackensack, New Jersey, serves as counsel to the Debtor.

Ottilio Properties estimated as much as $50 million in assets and
$10 million in liabilities as of the Chapter 11 filing.


PALISADES MEDICAL: Moody's Affirms 'Ba2' Rating on $38.5-Mil. Debt
------------------------------------------------------------------
Moody's Investors Service has affirmed Palisades Medical Center's
(PMC) Ba2 bond rating affecting $38.5 million of outstanding debt
issued through the New Jersey Health Care Facilities Finance
Authority (see RATED DEBT section at end of report). The outlook
remains stable.

SUMMARY RATING RATIONALE

The affirmation of the Ba2 debt rating and stable outlook reflects
Palisades' improved financial performance in fiscal year (FY) 2010
and through five months of FY 2011, growing outpatient volumes,
and increase in absolute liquidity and liquidity metrics such as
days cash on hand. These attributes are mitigated by Palisades'
location in the highly competitive northern New Jersey market, its
small size, and the upcoming reductions in Medicare and Medicaid
rates for skilled nursing facilities. Historical financial
performance has largely been supported by The Harborage, which is
Palisades' 245-bed skilled nursing facility and part of the
obligated group.

STRENGTHS

* Improvement in operating performance in FY 2010 with operating
  cash flow margin of 5.1% in FY 2010 compared to 4.7% in FY 2009;
  results through the first half of FY 2011 show continued
  improvement with operating cash flow margin of 7.8% compared to
  6.6% in the comparable prior year period although Moody's notes
that
  mid-year performance is usually higher than the full fiscal
  year; notwithstanding, Palisades' better performance is a
  departure from weaker historical performance and a key factor in
  Moody's revision of the outlook to stable from negative in
Moody's
  September 2010 review

* Modest increases in admissions over the last two years
  continuing in FY 2011 maintaining leading market share in its
  eight-town service area; improved outpatient volumes are driving
  the current 5% growth in net patient revenue growth through five
  months of FY 2011 over the prior year comparable period although
  Moody's expects revenue growth to flatten by year end given
  volume seasonality

* Profitable nursing home, The Harborage, that is part of the
  obligated group and represents a high 82% of operating income
  for the system in FY 2010

* Improvement in unrestricted cash and investments to $32.2
  million at fiscal year end (FYE) 2010, equating to improved 78
  days cash on hand, and 71% cash-to-debt, up from 61 days and 57%
  cash-to-debt at FYE 2009

* All fixed rate debt structure with no derivates

CHALLENGES

* Heavy reliance on government payors at the Harborage, with
  Medicare (18%) and Medicaid (66%) representing a high 84% of its
  payor mix; upcoming state Medicaid and federal Medicare rate
  reductions for skilled nursing facilities will pressure future
  operating performance for the system requiring management to
  seek efficiencies to mitigate the impact

* Historical flat revenue growth at Palisades largely due to the
  high dependence on government payors (54% Medicare and 16%
  Medicaid); long-standing absence of a Blue Cross contract
  (largest commercial payor in northern New Jersey) at PMC places
  further limits on revenue and volume growth

* Crowded and highly competitive northern New Jersey market with
  many providers in the primary and secondary service area; some
  of the nearby Hudson County hospitals have experienced
  challenging financial pressures and are partnering with for-
  profit providers which adds uncertainty into the market

* Small provider with $156 million in combined revenues and under
  10,000 admission making it vulnerable to external changes and
  physician departures

* Large defined benefit pension obligation adds to the liabilities
  of the system; despite modifications to the structure, the
  projected benefit liability remains $25 million (71% funded
  ratio)

DETAILED CREDIT DISCUSSION

LEGAL SECURITY: Gross receipts pledge of the obligated group,
comprised of Palisades Medical Center (PMC) and the Harborage
(Palisades General Care, Inc.), an 245-bed long term care provider
on its campus. A mortgage pledge on PMC and the Harborage is also
provided as bondholder security as is a fully funded debt service
reserve fund. Bond covenants require 60 days cash on hand and a
1.3 times rate covenant measured annually. All tests met in FY
2010. Moody's refers to the combined entities as "Palisades" in
this report.

INTEREST RATE DERIVATIVES: None

RECENT DEVELOPMENTS/RESULTS

In FY 2010, Palisades reported a year of improved, yet modest
financial performance with breakeven operating income of $243
thousand (0.2% margin after reclassifying investment income to
non-operating revenue) and operating cash flow of $7.9 million
(5.1% margin). This represents an improvement over the operating
loss of $841 thousand (-0.5% margin) and operating cash flow of
$7.3 million (4.7% margin) reported in FY 2009 and was
incorporated in Moody's revision of the outlook to stable from
negative in Moody's September 2010 review. The improved financial
performance was driven by increased charity care subsidy from the
state, improved collections and slight growth in combined
inpatient admission and observation stays (0.4%) contributing to a
flat 0.4% growth in total operating revenue in FY 2010 over FY
2009. Expenses declined by 1.0% due to lower salary costs from FTE
reductions in FY 2010 and supply expense savings. Furthermore in
FY 2010, management Profitability of the system is mainly reliant
on The Harborage, the nursing home attached to PMC that is part of
the obligated group. Operating income at Harborage accounts for
82% of the operating income for the system in FY 2010, which
decreased from 90% in FY 2009 as operating performance at the
medical center improved.

Through the first five months of FY 2011 ending May 31, 2011,
Palisades recorded operating income of $2.1 million (3.0% margin)
and operating cash flow of $5.3 million (7.8% margin). These
results are improved compared to the same period in FY 2010, when
Palisades recorded a 1.5% operating margin and 6.6% operating cash
flow margin. Through May 2011, total operating revenue increased
4.5% over the same period in FY 2010, while expenses only
increased 3.2%. Management attributes the improved performance to
an additional $1.0 million in charity care subsidy from the state
for FY 2011 and increases in outpatient surgery (6.5%), emergency
room visits (5.9%), and slight increase in combined inpatient
admissions and observation stays (0.6%). The hospital experiences
some seasonality in volumes throughout the year and Palisades is
budgeting performance in FY 2011 to be slightly above results in
FY 2010 with 0.7% operating margin and 5.7% operating cash flow
margin evidencing the seasonality.

Despite the revenue growth reported in the first five months of FY
2011, PMC faces rate reductions from government payors at The
Harborage putting pressure on the system to maintain current
operating performance. The nursing home receives 66% of its
revenues from Medicaid and 18% from Medicare. New Jersey is
reducing Medicaid reimbursement to nursing homes and Medicare has
reduced reimbursement to nursing homes by a material 13% in 2011.
According to management the impact of State Medicaid cuts to
Harborage will be breakeven while the reduction in Medicare rates
will be approximately 9% at The Harborage, and nursing home
management team will adjust appropriately to the reduction in
revenue. Moody's expects The Harborage will have difficulty
achieving the same margins it has in the past putting more
pressure on the medical center to meet budgeted margins. The
system's ability to navigate this decline in revenue will be a
factor in future rating reviews.

With the increased cash flow in FY 2010, PMC's debt service
coverage improved keeping measures in line with Moody's 2009 Ba
medians. Moody's adjusted debt-to-cash flow measured 5.1 times in
FY 2010 compared 6.0 times in FY 2009 (Moody's 2010 Ba median is
5.1 times) and MADS coverage measured of 2.5 times compared to 2.3
times in FY 2009 (Moody's 2010 Ba median is 2.2 times). Coverage
has further improved in five-months FY 2011, with debt-to-cash of
3.6 times and MADS coverage of 3.4 times although Moody's expects
these to weaken given year end seasonality and management's
expectation for year end results on par with FY 2010.

At FYE 2010 (December 31, 2010), absolute unrestricted cash and
investments improved to $32.2 million (78 days cash on hand), a
28% increase from FYE 2009. This growth is attributable to good
returns on investments, three years of lower capital spending, and
improved cash collections (days in accounts receivable was 40 at
FYE 2010 from 44 days at FYE 2009). However, days in accounts
payable was a high 103 days at FYE 2010, very unfavorable to the
2010 Moody's national median of 58 days and artificially inflating
unrestricted cash. Management reduced days in accounts payable to
95 at May 31, 2011, and unrestricted cash and investments declined
to $31.8 million or 75 days cash. Moody's expects modest absolute
liquidity growth in the coming years as management endeavors to
bring the measure to its goal of 75 days. Cash-to-debt measured
71% at FYE 2010, an improvement from 57% at FYE 2009 and closer to
the Moody's 2010 Ba median of 76%. According to management, at FYE
2010 PMC's unrestricted cash and investment was 100% liquid on a
monthly basis and allocated to approximately 40% cash and fixed
income, 60% equities.

PMC's sponsors a defined benefit pension plan, which was closed to
new participants June 1, 2006. Effective January 1, 2010 the plan
was further amended to freeze benefit accruals for 18 months. This
temporary freeze reduced pension expense by 40% in FY 2010 and 47%
in FY 2011. As a result, funding declined by a material $2.8
million in FY 2010 to $7.0 million from $9.8 million and the
expected funding for FY 2011 is $5.5 million. Despite this
material change, the pension liability remains $25 million, adding
to the liabilities of the system and creating negative net assets.
Cash-to-comprehensive debt (including short- and long-term debt
and lease and pension liability) is 48%. The current debt
structure is comprised of 100% fixed rate, mitigating immediate
demands on the balance sheet.

Capital spending at the medical center for FY 2011 is budgeted to
be $1.2 million for mostly routine capital needs. Management spent
$6 million in FY 2010 on information technology and expects to
receive meaningful use funding at the end of FY 2011. Despite the
increase in capital spending in FY 2010, spending was well below
depreciation in fiscal years 2007, 2008, and 2009. At FYE 2010,
PMC's average age of plant was 19 years, well above the Moody's
2010 national average of 10.3 years. Management has no new debt
plans at this time.

While financial performance has improved at the system, Moody's
views PMC's small size and location in the highly competitive
northern New Jersey market as credit challenges. With $156 million
in revenue and under 10,000 admissions, PMC maintains 30% market
share in its eight-town primary service area in Hudson County.
There are numerous competing providers in both Hudson and nearby
Bergen County, which has begun to see consolidation and increased
physician employment. Some of the Hudson County providers have
struggled financially in the past but are now finding capital and
for-profit partners, potentially adding competitive challenges for
the PMC. Likewise, Bergen County providers are employing more
physicians which could affect area physician referral patterns,
management states many of the newly employed physicians continue
to refer to PMC. Furthermore, outmigration to New York City
providers remains a challenge. PMC is the only provider in the
area affiliated with New York Presbyterian Healthcare System, and
although the medical center does not receive any financial
support, this relationship benefits PMC with the brand, the
medical service agreements allowing expanded services at the
hospital, and participation in quality studies and protocols
allowing PMC to benchmark itself to New York Presbyterian
Healthcare System.
Outlook

The stable outlook reflects Moody's expectation that financial
performance in FY 2011 will be consistent with FY 2010 and should
provide adequate debt service coverage and further improve balance
sheet metrics. Future rating action will depend on Palisades'
ability to navigate the eminent revenue pressure at The Harborage
and the changing competitive market.

WHAT COULD MAKE THE RATING GO UP

Sustained improvement in financial performance; continued volume
growth leading to material revenue and market share growth;
continued improvement in liquidity and debt ratios; no changes in
the competitive environment of this market

WHAT COULD MAKE THE RATING GO DOWN

Decline in volumes and operating performance; downturn in
performance at the Harborage; decline in liquidity; additional
debt without commensurate increase in cash flow and liquidity;
changes in the competitive landscape that negatively impact
performance

KEY INDICATORS

Assumptions & Adjustments:

- Based on financial statements for Palisades Medical Center, Inc.
  and Palisades General Care, Inc.

- First number reflects audit year ended December 31, 2009

- Second number reflects audit year ended December 31, 2010

- Investment returns normalized at 6% unless otherwise noted

- All investment returns restated as non-operating income

- Moody's excludes supplemental retirement funds from cash
  calculations

* Inpatient admissions: 9,425; 9,434

* Total operating revenues: $155.3 million; $155.9 million

* Moody's-adjusted net revenue available for debt service: $6.4
  million; $7.9 million

* Total debt outstanding: $44.7 million; $45.2 million

* Maximum annual debt service (MADS): $4.5 million; $4.5 million

* MADS Coverage with reported investment income: 2.68 times; 2.64
  times

* Moody's-adjusted MADS Coverage with normalized investment
  income: 2.26 times; 2.53 times

* Debt-to-cash flow: 6.0 times; 5.1 times

* Days cash on hand: 61 days; 78 days

* Cash-to-debt: 57%; 71%

* Operating margin: -0.5%; 0.2%

* Operating cash flow margin: 4.7%; 5.1%

OUTSTANDING BONDS (as of December 31, 2010)

- Series 1999: $11.1 million outstanding; Ba2

- Series 2002: $27.5 million outstanding; Ba2


PARKWOOD HOSPITALITY: Case Summary & 20 Largest Unsec Creditors
---------------------------------------------------------------
Debtor: Parkwood Hospitality, LLC
        P.O. Box 1546
        Duncan, OK 73533

Bankruptcy Case No.: 11-14863

Chapter 11 Petition Date: September 2, 2011

Court: United States Bankruptcy Court
       Western District of Oklahoma (Oklahoma City)

Judge: T.M. Weaver

Debtor's Counsel: Andrew R Chilson, Esq.
                  Robert J. Haupt, Esq.
                  PHILLIPS MURRAH PC
                  Corporate Tower, Thirteenth Floor
                  101 N Robinson Ave
                  Oklahoma City, OK 73102
                  Tel: (405) 235-4100
                  Fax: (405) 235-4133
                  E-mail: archilson@phillipsmurrah.com
                          rjhaupt@phillipsmurrah.com

Scheduled Assets: $3,752,641

Scheduled Debts: $14,888,516

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/okwb11-14863.pdf

The petition was signed by Jagmohan Dhillon.


PERKINS & MARIE: Files Schedules of Assets and Liabilities
----------------------------------------------------------
Perkins & Marie Callender's Inc. filed its schedules of assets and
liabilities, and statements of financial affairs in the U.S.
Bankruptcy Court for the District of Delaware, disclosing:

Name of Schedule                    Assets         Liabilities
----------------                    ------         -----------
A. Real Property                      $850,000
B. Personal Property              $232,010,752
C. Property Claimed as
  Exempt
D. Creditors Holding
  Secured Claims                                   $113,287,295
E. Creditors Holding
  Unsecured Priority
  Claims
F. Creditors Holding
  Unsecured Non-priority
  Claims                                           $222,464,984
                                  ------------     ------------
      TOTAL                       $232,860,752     $335,752,279

Debtor-affiliate, Marie Callender Pie Shops Inc., also filed its
schedules, disclosing $22,251,617 in assets and $325,379,057 in
liabilities.

A full-text copy of the schedules of Perkin & Marie is available
for free at:

     http://bankrupt.com/misc/PERKINS&MARIE_sal.pdf

A full-text copy of the schedules of Marie Callender is available
for free at

     http://bankrupt.com/misc/PERKINS&MARIE_mariecallender_sal.pdf

                 About Perkins & Marie Callender's

Based in Memphis, Tennessee, Perkins & Marie Callender's Inc., fka
The Restaurant Company, is the owner or franchiser of nearly 600
family-dining restaurants, the Perkins Restaurants and Marie
Callender's.  Perkins & Marie and several affiliates filed for
Chapter 11 bankruptcy (Bankr. D. Del. Lead Case No. 11-11795) on
June 13, 2011.  Perkins & Marie disclosed $290 million in assets
and $441 million in debt as of the Chapter 11 filing.

Judge Kevin Gross presides over the case.  Robert S. Brady, Esq.,
and Robert F. Poppiti, Jr., Esq., at Young, Conaway, Stargatt &
Taylor, LLP; and Mitchel H. Perkiel, Esq., Hollace T. Cohen, Esq.,
and Brett D. Goodman, Esq., at Troutman Sanders, LLP, serve as
bankruptcy counsel.  The Debtors' financial advisors are Whitby,
Santarlasci & Company.  Their claims agent is Omni Management
Group, LLC.  Deloitte Tax LLPserves  as tax services provider.

DIP lender Wells Fargo is represented by lawyers at Paul,
Hastings, Janofsky & Walker LLP.

Roberta A. Deangelis, U.S. Trustee for Region 3, appointed seven
unsecured creditors to serve on the Official Committee of
Unsecured Creditors in the Debtors' cases.  Ropes & Gray LLP
represents the Committee.


PERKINS & MARIE: Lender Counsel Paul Hastings Changes Firm Name
---------------------------------------------------------------
Counsel for Perkins & Marie Callender's Inc.'s DIP lender Wells
Fargo Capital Finance, LLC has notified parties-in-interest that
it has changed its name from Paul, Hastings, Janofsky & Walker LLP
to Paul Hastings LLP.

                      About Perkins & Marie

Based in Memphis, Tennessee, Perkins & Marie Callender's Inc., fka
The Restaurant Company, is the owner or franchiser of nearly 600
family-dining restaurants, the Perkins Restaurants and Marie
Callender's.  Perkins & Marie and several affiliates filed for
Chapter 11 bankruptcy (Bankr. D. Del. Lead Case No. 11-11795) on
June 13, 2011.  Perkins & Marie disclosed $290 million in assets
and $441 million in debt as of the Chapter 11 filing.

Judge Kevin Gross presides over the case.  Robert S. Brady, Esq.,
and Robert F. Poppiti, Jr., Esq., at Young, Conaway, Stargatt &
Taylor, LLP; and Mitchel H. Perkiel, Esq., Hollace T. Cohen, Esq.,
and Brett D. Goodman, Esq., at Troutman Sanders, LLP, serve as
bankruptcy counsel.  The Debtors' financial advisors are Whitby,
Santarlasci & Company.  Their claims agent is Omni Management
Group, LLC.  Deloitte Tax LLPserves  as tax services provider.

DIP lender Wells Fargo is represented by lawyers at Paul,
Hastings, Janofsky & Walker LLP.

Roberta A. Deangelis, U.S. Trustee for Region 3, appointed seven
unsecured creditors to serve on the Official Committee of
Unsecured Creditors in the Debtors' cases.  Ropes & Gray LLP
represents the Committee.


PETER BORLO: Dist. Ct. Dismisses Suit v. Navy Federal Credit Union
------------------------------------------------------------------
District Judge Deborah K. Chasanow dismissed Peter A. Borlo, v.
Navy Federal Credit Union, Civil Action No. DKC 11-1168 (D. Md.),
at the defendant's behest.  Mr. Borlo filed a complaint against
Navy Federal in the Circuit Court for Montgomery County, Maryland,
on Jan. 7, 2011.  After service, Navy Federal timely removed to
the District Court on the basis of diversity of citizenship. The
complaint contains two counts: one for negligence and one for
damage to credit and credit standing.  A copy of Judge Chasanow's
Sept. 2, 2011 Memorandum Opinion is available at
http://is.gd/L3OEokfrom Leagle.com.

Peter A. Borlo is a resident of Maryland.  In October 2005,
Mr. Borlo was hired by a company called The Manhattan Group, Inc.,
which was owned by Darryl S. Paxton.  At some point before
November 2006, Messrs. Borlo and Paxton entered into a separate
business venture together.  They formed a limited liability
company called 12th Street Venture to acquire certain real
property, refurbish and renovate it, and sell it for a profit.
Mr. Paxton persuaded Borlo to take out a loan solely in Mr.
Borlo's name to carry out their business plan.  After purchasing
the property, however, Mr. Paxton did not carry out any of their
refurbishment or renovation plans.  Without improvements, the
property never sold, and Mr. Borlo was eventually unable to
continue making payments on the loan.


PHILADELPHIA ORCHESTRA: Mediation on Union Matters Begins Sept. 15
------------------------------------------------------------------
The Hon. Eric L. Frank of the U.S. Bankruptcy Court for the
Eastern District of Pennsylvania directed The Philadelphia
Orchestra Association, Academy of Music of Philadelphia, Inc., and
AFM Local 77, to attend a mediation before the Hon. Stephen
Raslavich, chief judge.  The mediation will commence at 1:00 p.m.
on Sept. 15, 2011, and, if appropriate, continue until Sept. 16,
2011.

The parties entered into a stipulation providing for:

   -- a court-annexed mediation program in connection with their
   efforts to reach a successor collective bargaining agreement;

   -- subject to the ratification by the Musicians, the collective
   bargaining agreement expiration date will be extended from its
   current expiration date of Nov. 18, 2011, to Dec. 2, 2011.

   -- the hearing on the petition under Section 1113 will
   commence during the week of Oct. 3, 2011, or not less than 14
   days after the filing of the motion if it is filed later than
   Sept. 19, and

   -- the labor will not file any new unfair labor practice
   charges, amendments, or allegations with NLRB between the
   execution of the mediation agreement and the conclusion of the
   mediation.

The Court also ordered that unless otherwise instructed by the
mediator, the parties are ordered to comply with the provisions of
Local Bankruptcy Rule 9019-3, including submission of a
confidential mediation report by each party, which will be
delivered to the mediator's chambers no later than 1:00 p.m. on
Sept. 13, 2011.

                 About the Philadelphia Orchestra

The Philadelphia Orchestra -- http://www.philorch.org/-- claims
to be among the world's leading orchestras.  Bloomberg News says
the orchestra became the first major U.S. symphony to file for
bankruptcy protection, surprising the music world.

Previous conductors include Fritz Scheel (1900-07), Carl Pohlig
(1907-12), Leopold Stokowski (1912-41), Eugene Ormandy (1936-80),
Riccardo Muti (1980-92), Wolfgang Sawallisch (1993-2003), and
Christoph Eschenbach (2003-08).  Charles Dutoit is currently chief
conductor, and Yannick Nezet-Seguin has assumed the title of music
director designate until he takes up the baton as The Philadelphia
Orchestra's next music director in 2012.

The Philadelphia Orchestra Association, The Academy of Music of
Philadelphia, Inc., and Encore Series, Inc., filed separate
Chapter 11 petitions (Bankr. E.D. Pa. Case Nos. 11-13098 to
11-13100) on April 16, 2011.  Judge Eric L. Frank presides over
the case.  The Philadelphia Orchestra Association is being advised
by Dilworth Paxson LLP, its legal counsel, and Alvarez & Marsal,
its financial advisor.  Curley, Hessinger & Johnsrud serves as its
special counsel.  In its petition, Philadelphia Orchestra
estimated $10 million to $50 million in assets and debts.

Encore Series, Inc., tapped EisnerAmper LLP as accountants and
financial advisors.

Roberta A. DeAngelis, the U.S. Trustee for Region 3, appointed
seven members to the official committee of unsecured creditors in
the Debtors' case.  Reed Smith LLP serves as the Committee's
counsel.

The orchestra at the start of the Chapter 11 case said it needed
relief from pension obligations, a new lease with the Kimmel
Center where it performs, and a new union contract with musicians.


PICHI'S INC: Chapter 11 Case Now Assigned to Hon. Edward A. Godoy
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Puerto Rico notified
the creditors and parties-in-interest that it has reassigned to
the Hon. Edward A. Godoy the Chapter 11 case of Pichi's Inc.

The case was previously assigned to Hon. Mildred Caban Flores.

Pichi's Inc. owns and operates the Best Western Pichi's Hotel in
Guayanilla, Puerto Rico.  Pichi's filed for Chapter 11 bankruptcy
(Bankr. D. P.R. Case No. 11-06583) on Aug. 3, 2011.  Judge Mildred
Caban Flores presides over the case.  Charles Alfred Cuprill, PSC
Law Offices, serves as the Debtor's bankruptcy counsel.  CPA Luis
R. Carrasquillo & Co., P.S.C., serves as financial consultants.
In its petition, the Debtor estimated US$10 million to US$50
million in both assets and debts.  The petition was signed by Luis
A. Emmanuelli Gonzalez, president.


PICHI'S INC: Charles A. Cuprill Approved as Bankruptcy Counsel
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Puerto Rico, in a
Sept. 1, 2011, order, authorized Pichi's Inc. to employ Charles A.
Cuprill, PSC Law Offices as counsel.

As reported in the Troubled Company Reporter on Aug. 18, 2011, the
Debtor has paid the firm $22,4000 as retainer.  The firm charges
$350 per hour for Charles A. Cuprill-Hernandez, Esq.; $225 an hour
for senior associates; $150 an hour for junior associations; and
$75 for paralegals.

Mr. Cuprill-Hernandez, Esq., disclosed that his firm has
represented a Pichi's creditor, the Puerto Rico Tourism
Development Fund in the bankruptcy case styled In re Palmas
Country Club, Inc., Case No. 10-07072 (SEK).  Another creditor, V.
Suarez & Co., is a shareholder of Cuprill's client, Procesadora
Campofresco, Inc.  Notwithstanding, Mr. Cuprill-Hernandez,
attested that his firm is a disinterested person as defined in
Sec. 101(14) of the Bankruptcy Code.

On Sept. 5, Myrna L. Ruiz-Olmo, Esq. (mruizolmo@cuprill.com)
notified the Court that she has withdrawn as counsel of record to
the Debtor.  Attorney Charles A. Cuprill-Hernandez will continue
representing Debtor in this matter.

Ms. Ruiz-Olmo also requested that her name be removed from all
filings and notices henceforth.

                        About Pichi's Inc.

Pichi's Inc. owns and operates the Best Western Pichi's Hotel in
Guayanilla, Puerto Rico.  Pichi's filed for Chapter 11 bankruptcy
(Bankr. D. P.R. Case No. 11-06583) on Aug. 3, 2011.  Judge Mildred
Caban Flores presides over the case.  Charles Alfred Cuprill, PSC
Law Offices, serves as the Debtor's bankruptcy counsel.  CPA Luis
R. Carrasquillo & Co., P.S.C., serves as financial consultants.
In its petition, the Debtor estimated US$10 million to US$50
million in both assets and debts.  The petition was signed by Luis
A. Emmanuelli Gonzalez, president.


PICHI'S INC: Can Hire Luis R. Carrasquillo as Financial Consultant
------------------------------------------------------------------
The Hon. Mildred Caban Flores of the U.S. Bankruptcy Court for the
District of Puerto Rico authorized Pichi's Inc. to employ CPA Luis
R. Carrasquillo & Co., PSC as financial consultant.

As reported in the Troubled Company Reporter on Aug. 18, 2011, the
financial consultant will assist its management in the financial
restructuring of its affairs by providing advice in strategic
planning and the preparation of the Debtor's plan of
reorganization, disclosure statement and business plan, and
participating in the Debtor's negotiations with creditors.

The Debtor has paid Carrasquillo a $20,000 retainer.  The firm's
partner, CPA Luis R. Carrasquillo, charges $160 an hour for his
work.  Senior CPA Marcelo Gutierrez charges $125 an hour.  Other
CPAs bill $90 to $125 an hour.

Carrasquillo has acted as financial consultant in other bankruptcy
cases in which Charles A. Cuprill, Esq., the Debtor's counsel, has
or is representing debtors.  V. Suarez & Co., a Pichi's creditor,
is a shareholder of Procesadora Campofresca, Inc., a client of
Carrasquillo.  Notwithstanding, Carrasquillo is a disinterested
person as defined in Sec. 101(14) of the Bankruptcy Code.

                        About Pichi's Inc.

Pichi's Inc. owns and operates the Best Western Pichi's Hotel in
Guayanilla, Puerto Rico.  Pichi's filed for Chapter 11 bankruptcy
(Bankr. D. P.R. Case No. 11-06583) on Aug. 3, 2011.  Judge Mildred
Caban Flores presides over the case.  Charles Alfred Cuprill, PSC
Law Offices, serves as the Debtor's bankruptcy counsel.  CPA Luis
R. Carrasquillo & Co., P.S.C., serves as financial consultants.
In its petition, the Debtor estimated US$10 million to US$50
million in both assets and debts.  The petition was signed by Luis
A. Emmanuelli Gonzalez, president.


PICHI'S INC: Taps Manuel A. Nunez for Labor Relations Matters
-------------------------------------------------------------
Pichi's Inc. asks the U.S. Bankruptcy Court for the District of
Puerto Rico for permission to employ Manuel A. Nunez, Esq., as
special counsel.

The Debtor relates that prior to the Petition date, it has engaged
the services of Manuel A. Nunez Law Offices as its counsel in
labor law matters on an ongoing basis, including employees and
union related matters, assessment and legal opinions on wage and
hour issues as well as union contracts, workmen's compensation,
employment issues both under local and federal labor laws, ongoing
bargaining with union as to over six bargaining units and
appearances on behalf of Debtor before governmental agencies for
administrative investigations of non-judicial well as adjudicative
nature, including the National Labor Relations Board.

The firm's personnel hourly rates are:

         Principal Attorneys           $200
         Associates                    $175
         Junior Associates             $150

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

The firm can be reached at:

         MANUEL A. NUNEZ LAW OFFICES
         PMB 157
         No. 1357 Ave. Ashford, Suite 2
         Condado, San Juan, P.R. 00907
         Tel: (787) 753-6530
         Fax: (787) 753-6597
         E-mail: mnunez@mnlawpr.com.

                        About Pichi's Inc.

Pichi's Inc. owns and operates the Best Western Pichi's Hotel in
Guayanilla, Puerto Rico.  Pichi's filed for Chapter 11 bankruptcy
(Bankr. D. P.R. Case No. 11-06583) on Aug. 3, 2011.  Judge Mildred
Caban Flores presides over the case.  Charles Alfred Cuprill, PSC
Law Offices, serves as the Debtor's bankruptcy counsel.  CPA Luis
R. Carrasquillo & Co., P.S.C., serves as financial consultants.
In its petition, the Debtor estimated US$10 million to US$50
million in both assets and debts.  The petition was signed by Luis
A. Emmanuelli Gonzalez, president.


PREMIER GOLF: Creditor Says Vance's Retention is Not Plan Related
-----------------------------------------------------------------
Creditor Far East National Bank asks the U.S. Bankruptcy Court
Southern District of California to deny Premier Golf Properties,
LP's request to employ Lee Perry Vance of Vance and Associates as
a land planning firm.

As reported in the Troubled Company Reporter on Sept. 7, 2011, the
firm's employment will be 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 intended 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 noted 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.

According to the creditor, Vance's previous and proposed continued
services to the Debtor have no relationship to the Debtor's
proposed plan.  Rather, the creditor states, that they are in
furtherance of Debtor's original and continued undisclosed real
plan for the Debtor's assets, the development of high end
residential properties, including for senior citizens, on a
portion of Debtor's real property secured by FENB's deed of trust.

The creditor notes that the Debtor does not include that real plan
in its proposed First Amended Disclosure Statement or in its First
Amended Plan of Reorganization.  Current market conditions do not
support the construction of residential development on the
Debtor's property and no projection of the residential market at
anytime during the proposed plan period supports such development.
The proposed residential development, the creditor adds, is in
violation of the current General Plan for the property and
contravenes existing zoning.

The Court will convene a hearing on Sept. 19, at 2:30 p.m., to
consider the Debtor's request to employ Vance.

Far East Bank is represented by:

         Richard J. Frick, Esq.
         Ralph Ascher, Esq.
         Richard Vergel de Dios, Esq.
         FRICK PICKETT & MCDONALD LLP
         11022 Acacia Parkway, Suite D
         Garden Grove, CA 92840
         Tel: (714) 638-4300
         Fax: (714) 638-4311
         E-mail: rfrick@fpmlaw.com
                 rascher@fpmlaw.com
                 rvergeldedios@fpmlaw.com

                 About Premier Golf Properties, LP

El Cajon, California-based, Premier Golf Properties, LP dba
Cottonwood Golf Club filed for Chapter 11 protection (Bankr. S.D.
Calif. Case No. 11-07388) on May 2, 2011.  Peter W. Bowie  is
presiding the case.  Jack F. Fitzmaurice, Esq., at Fitzmaurice &
Demergian represents the Debtor.  The Debtor estimated assets and
liabilities at $10 million to $50 million.


PREMIER TRAILER: DIP Loan, Cash Collateral Hearing Set for Oct. 3
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware will
convene a hearing on Oct. 3, 2011, at 10:00 a.m., to consider PTL
Holdings LLC and Premier Trailer Leasing Inc.'s request for
authorization to:

   -- incur postpetition secured indebtedness with priority over
      all secured indebtedness and with administrative
      superpriority;

   -- use of cash collateral and provide adequate protection; and

   -- modify the automatic stay.

Objections, if any, are due by Sept. 23, 2011.

The Debtors won interim authority to (a) incur postpetition,
priming secured financing in the principal amount of up to
$1,500,000 from Garrison Loan Agency Services LLC, as
administrative agent, as an extension of the Debtors' existing
working capital secured financing, without any roll-up of
prepetition debt, (b) use cash collateral in which the Debtors'
prepetition lenders may have an interest, and (c) provide adequate
protection to the lenders.

The DIP Loan proceeds may be used to (a) pay interest, costs, and
expenses incurred with respect to the DIP Obligations, and (b)
finance ongoing general working capital needs of the Debtors,
including, but not limited to chapter 11 professional fees and
expenses.

The interest rate for the DIP Obligations will be the existing
variable rate for Base Rate Loans under the First Lien Credit
Agreement, which is currently 5.75% per annum.

The DIP Loan matures (i) Oct. 7, 2011, (ii) on the failure of the
Debtors to obtain a Final Order on or before the date which is 30
days after the Petition Date, (iii) the effective date of a plan
of reorganization, or (iv) the occurrence of an event of default
under the First Lien Credit Agreement.

The DIP Obligations will secured by first priority priming liens
against all assets of the Debtors and their estates pursuant to
sections 364(c)(2), 364(c)(3) and 364(d)(1) of the Bankruptcy
Code, subject to the carve-out and excluding avoidance actions and
related proceeds.  The DIP Obligations also shall be treated as
superpriority administrative expense claims pursuant to section
364(c)(1) of the Bankruptcy Code.  The carve-out consists of (a)
quarterly fees required to be paid pursuant to 28 U.S.C. Sec.
1930(a)(6), together with interest payable thereon pursuant to
applicable law and any fees payable to the Clerk of the Bankruptcy
Court; (b) allowed fees and expenses of attorneys, accountants,
financial advisors, consultants and other professionals employed
by the Debtors and any official committees of creditors pursuant
to Sections 327 and 1103 of the Bankruptcy Code accrued through
the DIP Commitment Termination Date, and up to the amount of
$25,000 accrued thereafter.

As of the Petition Date, the Debtors had $110 million of
outstanding indebtedness on a consolidated basis, consisting of
(a) $83 million under a senior secured, revolving credit facility,
and (b) $27 million under a second lien term loan.

The First Lien Agent, on behalf of the First Lien Lenders, has
consented to the Debtors' use of Cash Collateral.  The First Lien
Lenders are affiliates of the First Lien Agent, GOF II NON RE LO
LLC, GOF II NON RE LO Series B LLC, GOF Class A and B LLC, GOF
Class C LLC, Fairchild Offshore Master Fund L.P., and Fairchild
Offshore Master Fund II L.P.

The Debtors' ability to use Cash Collateral will end on the DIP
Commitment Termination Date.

The parties with an interest in the Cash Collateral are: (i) the
First Lien Agent, for the benefit of the First Lien Lenders, and
(ii) Fifth Street Mezzanine Partners III, L.P., as agent to the
Second Lien Lenders.

The Debtors believe that the value of their property that is
secured by the lien of the First Lien Agent is less than the
amount of the aggregate obligations owed to the First Lien Lenders
and, accordingly, the Second Lien Lenders have only an unsecured
claim against the Debtors' estates. The Debtors propose, however,
to provide the same adequate protection to the Second Lien Lenders
that is being provided to the First Lien Lenders on account of
their prepetition obligations, junior in all respects to the
rights, protections and claims of the First Lien Lenders,
including the DIP Obligations, and without prejudice to the
Debtors' rights to seek to modify the adequate protection granted
to the Second Lien Lenders.

                   About Premier Trailer Leasing

Founded in 2005, PTL Holdings LLC and Premier Trailer Leasing,
Inc., provide semi-trailer rentals, specializing in road-ready
semi-vans and flatbeds for the mid-market segment of the
transportation industry.  Headquartered in Grapevine, Texas, they
operate their business out of 19 branches in 15 different states
in the United States.

PTL Holdings and Premier sought bankruptcy protection (Bankr. D.
Del. Lead Case No. 11-12676) on Aug. 23, 2011.  Brendan Linehan
Shannon presides over the case.  Pachulski Stang Ziehl & Jones LLP
serves as the Debtors' bankruptcy counsel.  Kurtzman Carson
Consultants, LLC, serves as claims and noticing agent.  PTL
Holdings estimated $100 million to $500 million in assets and
debts.  The petitions were signed by Scott J. Nelson, chief
executive officer.

Garrison Loan Agency Services LLC, the administrative agent under
the First Lien Credit Agreement, is represented by Proskauer Rose
LLP.  Second lien lender Fifth Street Mezzanine Partners III,
L.P., is represented by Young Conaway Stargatt & Taylor LLP and
Kramer Levin Naftalis & Frankel LLP.

On the Petition Date, the Debtors filed a Prepackaged Plan.  The
primary purpose of the Plan is to effectuate the restructuring and
substantial de-leveraging of the Debtors' capital structure in
order to bring it into alignment with the Debtors' present and
future operating prospects and to provide the Debtors with greater
liquidity.  The Plan gives the First Lien Lenders, owed $84
million, 100% of the equity of reorganized Premier in exchange for
the discharge of obligations owed under the First Lien Credit
Agreement.  Holders of Second Lien Credit Agreement Claims, worth
$27,100,000, and holders of general unsecured claims, worth
$550,000, will get nothing.


PREMIER TRAILER: Wants More Time to File Schedules
--------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware will
convene a hearing on Oct. 3, 2011, at 10:00 a.m., to consider PTL
Holdings LLC and Premier Trailer Leasing LLC's request to:

     -- grant them an additional 30 days to file their schedules
        of assets and liabilities and statements of financial
        affairs beyond the automatic 30-day extension granted
        under Rule 1007-1(b) of the Local Rules of Bankruptcy
        Practice and Procedure of the U.S. Bankruptcy Court for
        the District of Delaware, without prejudice to the
        Debtors' right to seek a further extension for cause
        shown,

     -- waive the requirement to file the Schedules and Statements
        if the Debtors confirm their Prepackaged Joint Chapter 11
        Plan of Reorganization and the Plan becomes effective
        prior to the expiration of the extension; and

     -- direct the Office of the United States Trustee not to
        convene a meeting of creditors or equity security holders
        in the Debtor's chapter 11 cases.

Objections, if any, are due by Sept. 23.

As reported in the Troubled Company Reporter on Sept. 1, 2011, an
extension would give the Debtors a total of 60 days from the
Petition Date to file their schedules and statements.  Inasmuch as
the Debtors anticipate that the chapter 11 cases will be of a
short duration, the Debtors seek to have the deadline to file
their schedules and statements extended.  The Debtors do not
intend to file a motion to establish a claims bar date because
their proposed restructuring does not provide for the payment of
any amounts to holders of general unsecured claims.

                   About Premier Trailer Leasing

Founded in 2005, PTL Holdings LLC and Premier Trailer Leasing,
Inc., provide semi-trailer rentals, specializing in road-ready
semi-vans and flatbeds for the mid-market segment of the
transportation industry.  Headquartered in Grapevine, Texas, they
operate their business out of 19 branches in 15 different states
in the United States.

PTL Holdings and Premier sought bankruptcy protection (Bankr. D.
Del. Lead Case No. 11-12676) on Aug. 23, 2011.  Brendan Linehan
Shannon presides over the case.  Pachulski Stang Ziehl & Jones LLP
serves as the Debtors' bankruptcy counsel.  Kurtzman Carson
Consultants, LLC, serves as claims and noticing agent.  PTL
Holdings estimated $100 million to $500 million in assets and
debts.  The petitions were signed by Scott J. Nelson, chief
executive officer.

Garrison Loan Agency Services LLC, the administrative agent under
the First Lien Credit Agreement, is represented by Proskauer Rose
LLP.  Second lien lender Fifth Street Mezzanine Partners III,
L.P., is represented by Young Conaway Stargatt & Taylor LLP and
Kramer Levin Naftalis & Frankel LLP.

On the Petition Date, the Debtors filed a Prepackaged Plan.  The
primary purpose of the Plan is to effectuate the restructuring and
substantial de-leveraging of the Debtors' capital structure in
order to bring it into alignment with the Debtors' present and
future operating prospects and to provide the Debtors with greater
liquidity.  The Plan gives the First Lien Lenders, owed $84
million, 100% of the equity of reorganized Premier in exchange for
the discharge of obligations owed under the First Lien Credit
Agreement.  Holders of Second Lien Credit Agreement Claims, worth
$27,100,000, and holders of general unsecured claims, worth
$550,000, will get nothing.


PRESIDENTIAL REALTY: Receives Delisting Notice From NYSE AMEX
-------------------------------------------------------------
Presidential Realty Corporation disclosed that by letter dated
September 6, 2011, it had received notice from the staff of the
NYSE Amex LLC of the intent of the Exchange to strike the Class B
common stock of the Company from the Exchange by filing a
delisting application with the Securities and Exchange Commission
(the "SEC") pursuant to Section 1009(d) of the NYSE Amex LLC
Company Guide.  On June 17, 2011, the Company received a letter
from that Exchange that the Company is not in compliance with the
Exchange's continued listing standard set forth in Section
1003(a)(iii) of the Exchange's Company Guide due to having
stockholders' equity of less than $6,000,000 at March 31, 2011 and
losses from continuing operations in its five most recent fiscal
years ended December 31, 2010.  In accordance with the Company
Guide, the Company submitted a plan of compliance on July 13,
2011, and provided supplemental updates on August 4, 22 and 23,
2011.  After review of the plan of compliance, the Exchange Staff
stated in the Notice that the Company "does not make a reasonable
demonstration in the Plan of its ability to regain compliance with
Section 1003(a)(iii)."

After careful consideration of its alternatives, the Company has
determined not to appeal the Exchange's decision to delist its
Class B common stock.  Therefore, on September 13, 2011, the
Exchange's determination will become final.  The Exchange will
then suspend trading in the Company's Class B common stock and
submit an application to the SEC to strike the Company's common
stock from listing on the Exchange and registration under Section
12(b) of the Securities Exchange Act of 1934, as amended (the
"Exchange Act").  The Company will then be deemed registered under
Section 12(g) of the Exchange Act and will continue to file
periodic and other reports pursuant to the requirements of the
Exchange Act.  As the Company has not entered into any strategic
transaction, it intends to move forward with completing its plan
of liquidation.

After the Company's Class B common stock is delisted, the Company
cannot predict whether any trading market, including any over-the-
counter trading market, for the Company's Class B common stock
will develop or be sustained. The Company's Class A common stock
currently trades in the over-the-counter market under the symbol
PDNLA.

                      About Presidential Realty

Presidential Realty Corporation, a real estate investment trust,
is engaged principally in the ownership of income-producing real
estate and in the holding of notes and mortgages secured by real
estate or interests in real estate.  On January 20, 2011,
Presidential stockholders approved a plan of liquidation, which
provides for the sale of all of the Company's assets over time and
the distribution of the net proceeds of sale to the stockholders
after satisfaction of the Company's liabilities.


PURSELL HOLDINGS: Lawson Bank Withdraws Motion for Stay Relief
--------------------------------------------------------------
Creditor Lawson Bank notified the U.S. States Bankruptcy Court for
the Western District of Missouri that it has withdrawn its amended
motion for relief from stay, alternative motion for adequate
protection against Pursell Holdings, LLC, which was filed on
May 31, 2011.

As reported in the Troubled Company Reporter on July 13, 2011,
Lawson Bank requested that the Court lift the automatic stay to
condition the use or sale of the collateral or for adequate
protection payments.

Lawson Bank asserted that cause exists for termination of the
automatic stay because, among other things:

   a. it lacks adequate protection for repayment;

   b. the equity in the property does not adequately protect
      Lawson Bank unless or until the property is sold, making
      liquidation of the collateral necessary to protect the
      creditor's debt; and

   c. the Debtor's failure to make its contracted monthly
      payments harms the subordinate and unsecured creditors by
      shifting any remaining equity to service the secured debt;
      Any delay in making payments to creditor harms the
      subordinate and unsecured creditors.

In the alternative, Lawson Bank sought adequate protection from
the Debtor in the form of the sums which have come due under the
loan agreements, curing the arrearage or failed payments, monthly
payments which are required under the terms of the loan documents
will adequately protect the Creditor for repayment of the loan and
use of its money, and for the use of the collateral after the
filing of this Motion, and to compensate Creditor for the interest
accruing on the debt and the depreciation of the collateral from
the Debtor's use.

Lawson Bank is represented by:

         LAW OFFICES OF JAMES A. KESSINGER, LC
         James A. Kessinger, Esq.
         200 NW Englewood Road, Suite B
         Kansas City, Missouri 64118
         Tel: (816) 436-0707
         Fax: (816) 436-1380

                     About Pursell Holdings

Liberty, Missouri-based Pursell Holdings, LLC, filed for Chapter
11 bankruptcy protection (Bankr. W.D. Mo. Case No. 11-40999) on
March 10, 2011.  Frank Wendt, Esq., Brown & Ruprecht, P.C., serves
as the Debtor's bankruptcy counsel.  In its schedules, the Debtor
disclosed $12,204,248 in assets and $23,382,741 in debts.
Affiliate Damon Pursell Construction Company filed a separate
Chapter 11 petition (Bankr. W.D. Mo. Case No. 10-44965) on
Sept. 15, 2010.

The U.S. Trustee said that a committee under 11 U.S.C. Sec. 1102
has not been appointed because an insufficient number of persons
holding unsecured claims against Pursell Holdings LLC have
expressed interest in serving on a committee.  The U.S. Trustee
reserves the right to appoint such a committee should interest
develop among the creditors.


QUANTUM FUEL: SPI to Buy 100% of Zephyr Shares for C$2.5 Million
----------------------------------------------------------------
Schneider Power Inc., a wholly owned subsidiary of Quantum Fuel
Systems Technologies Worldwide Inc., on Aug. 24, 2011, entered
into a purchase and sale agreement with Green Breeze Energy Inc.
for the purchase by SPI of 100% of the shares of Zephyr Wind Farms
Limited for a purchase price of C$2,500,000.  Zephyr is the owner
of a 10 MW wind power generation project located in Ontario,
Canada, known as the Brooke-Alvinston Wind Project.  Zephyr and
Samsung Heavy Industries Co., Ltd., are parties to a C$22.7
million construction loan credit facility which, subject to
Samsung's consent to the transaction, will remain in place after
the closing of the transaction.  The proceeds of the Samsung
Financing are expected to finance 100% of the Project's
construction costs.

The Purchase Price is payable in cash as follows: (i) C$800,000 on
the Closing Date and (ii) the balance payable in four installments
upon the Project's achievement of certain milestones.  The
Purchase Price is subject to downward adjustment not to exceed
C$500,000 if the construction costs for the Project exceed CDN
$7.0 million, excluding the cost of the wind turbines and certain
other Project costs such as management fees, real property lease
costs, refundable deposits and depreciation and amortization.
SPI's payment of the Purchase Price will be secured by a pledge of
all of the shares of Zephyr.  At closing, SPI will provide a
limited recourse guaranty to Samsung to secure Zephyr's
obligations to Samsung under the Samnsung Financing.

The Agreement provides that the closing must occur by Sept. 30,
2011, unless otherwise agreed by the parties.  The closing is
subject to the parties' satisfaction or waiver of certain closing
conditions including, without limitation, approval by each party's
board of directors or shareholders, as applicable, approval by and
consent from the Company's senior secured lender, approval by and
consent from Samsung, and no material adverse change in Zephyr's
business or the Project.  There can be no assurance that all of
the closing conditions will be satisfied or otherwise waived.

A full-text copy of the Purchase and Sale Agreement is available
for free at http://is.gd/1NTeOm

                         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.


QUANTUM FUEL: To Offer $75 Million of Securities
------------------------------------------------
Quantum Fuel Systems Technologies Worldwide, Inc., filed with the
U.S. Securities and Exchange Commission a Form S-3 registration
statement relating to the Company's intention to offer and sell,
from time to time, common stock, warrants, and a combination
thereof, with a total value of up to $75,000,000.

The Company's common stock is quoted on The Nasdaq Global Market
under the symbol "QTWW."  The last reported sale price of the
Company's common stock on Sept. 7, 2011, was $3.29 per share.
Each prospectus supplement will indicate if the securities offered
thereby will be listed on any securities exchange.  The Company's
principal executive offices are located at 17872 Cartwright Road,
Irvine, California 92614.  The Company's telephone number at that
location is (949) 399-4500.

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

                        http://is.gd/ptT1JJ

                         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.


QUINCY MEDICAL: Can Access Cash Collateral Until November 15
------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Massachusetts has
entered a final order granting Quincy Medical Center, Inc., et
al., authorization to use the Prepetition Collateral, including
Cash Collateral of the prepetition secured parties, subject to a
budget.

As of the petition date, the Debtors owed the prepetition secured
parties in the aggregate principal amount of roughly $58,130,000,
plus accrued and unpaid interest and fees, costs and expenses,
charges and all obligations incurred or owing under the Indenture.

As adequate protection of the interests in the Prepetition Cash
Collateral, including cash collateral, the Prepetition Secured
Parties are granted:

  -- Allowed superpriority administrative claims as provided in
     Section 507(b) of the Bankruptcy Code.

  -- As additional adequate protection for any Collateral
     Diminution, the Debtors will pay in cash: (i) the Indenture
     Trustee fees and expenses arising prior to the Petition Date;
     and (ii) on a current basis, the Indenture Trustee fees and
     expenses arising on or subsequent to the Petition Date.

The Debtor's authorization to use cash collateral will cease
and expire upon the earliest to occur of Nov. 15, 2011, or the
occurrence of a Termination Event, a complete enumeration of which
is described in Paragraph 12 of the Final Order.

Upon the occurrence of a Termination Event, the exclusive time
periods during which only the Debtors may file a plan and solicit
acceptances thereof will terminate; provided that, the termination
will be effective solely with respect to the Indenture Trustee,
the Prepetition Secured Parties and the Creditors' Committee.

A copy of the Final Order is available at:

     http://bankrupt.com/misc/quincymedical.finalccorder.pdf

                   About Quincy Medical Center

Quincy Medical Center is a 196-bed, nonprofit hospital in Quincy,
Massachusetts.

Quincy Medical Center, Inc. together with two affiliates, sought
Chapter 11 protection (Bankr. D. Mass. Lead Case No. 11-16394) on
July 1, 2011.

John T. Morrier, Esq., at Casner & Edwards, LLP, in Boston, serves
as counsel to the Debtors.  Navigant Capital Advisor LLC and
Navigant Consulting Inc. serve as financial advisors.  Epiq
Bankruptcy Solutions LLC is the claims, noticing, and balloting
agent.

Quincy disclosed assets of $73 million and liabilities of
$79.4 million.  Debt includes $56.4 million owing on secured bonds
issued through a state health-care finance agency.  There is
another $2.5 million secured obligation owing to Boston Medical
Center Corp.  Accrued liabilities are $18.2 million.

On July 12, 2011, the U.S. Trustee for the District of
Massachusetts appointed the Official Committee of Unsecured
Creditors.


RCG FOODS: Case Summary & 17 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: RCG Foods of Texas, Inc.
        P.O. Box 186
        El Paso,, TX 79942

Bankruptcy Case No.: 11-31697

Chapter 11 Petition Date: September 2, 2011

Court: United States Bankruptcy Court
       Western District of Texas (El Paso)

Judge: H. Christopher Mott

Debtor's Counsel: E.P. Bud Kirk, Esq.
                  Terrace Gardens
                  600 Sunland Park Drive, Bldg 4, #400
                  El Paso, TX 79912
                  Tel: (915) 584-3773
                  E-mail: budkirk@aol.com

Scheduled Assets: $1,529,897

Scheduled Debts: $1,868,568

A list of the Company's 17 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/txwb11-31697.pdf

The petition was signed by Robert Gregoire, president.


RCLC INC: Plan Confirmed; Anticipates Sept. 15 Plan Effective Date
------------------------------------------------------------------
On Aug. 29, 2011, the U.S. Bankruptcy Court for the District of
New Jersey confirmed the Liquidating First Amended Joint Plan of
RCLC, Inc., f/k/a Ronson Corporation, RA Liquidating Corp. f/k/a/
Ronson Aviation, Inc., and RCPC Liquidating Corp. f/k/a Ronson
Consumer Products Corporation under Chapter 11 of the Bankruptcy
Code.

Under the provisions of the Confirmation Order and the Joint Plan,
the Priority Claims, the Prepetition Credit Facility Claims, the
Getzler Henrich Claim, and the Other Secured Claims, as those
terms are defined in the Joint Plan, have either been satisfied in
full or will be satisfied in full following the confirmation of
the Joint Plan.  The General Unsecured Claims, under the Joint
Plan will not be fully satisfied.  The General Unsecured Creditors
will receive pro rata distributions form each of the three
estates, the General Unsecured Creditors of the Company will
receive approximately 5% of the amount of their claims, the
General Unsecured Creditors of RA Liquidating Corp.("RAL") will
receive approximately 44% of their claims, and the General
Unsecured Creditors of RCPC Liquidating Corp. ("RCPC") will
receive approximately 29% of the amount of their claims.

At July 31, 2011, there were 5,083,539 shares of the Company's
common stock outstanding.  The outstanding shares of the Company
will be canceled on the effective date and equity holders of the
Company, RAL and RCPC will receive no distribution under the Joint
Plan for their equity interests.

The effective date is expected to be no later than Sept. 15, 2011.
On the effective date, the remaining assets of the Company, RAL
and RCPC will be transferred to a liquidating trust for
distribution in accordance with the Joint Plan.

As reported in the TCR on June 8, 2011, the Court approved on
March 24, the disclosure statement explaining RCLC's First Amended
Joint Plan of Liquidation as containing adequate information
pursuant to the Bankruptcy Code, a copy of which is available for
free at http://is.gd/aFNUp9

                         About RCLC Inc.

RCLC, Inc., formerly known as Ronson Corporation, in Woodbridge,
New Jersey, historically, has been engaged principally in these
businesses -- Consumer Products; and Aviation-Fixed Wing and
Helicopter Services.

Trenton, New Jersey-based Ronson Aviation, Inc., now known as RA
Liquidating Corp., filed for Chapter 11 protection on Aug. 17,
2010 (Bankr. D. N.J. Case No. 10-35315).  The Debtor estimated its
assets at $10 million to $50 million and its debts at $1 million
to $10 million.  Affiliates RCLC, Inc. (Bankr. D. N.J. Case No.
10-35313), and RCPC Liquidating Corporation (Bankr. D. N.J. Case
No. 10-35318) filed separate Chapter 11 petitions on Aug. 17,
2010, each estimating their assets at $1 million to $10 million
and debts at $1 million to $10 million.  The cases, along with
RCLC, Inc.'s, are jointly administered, with RCLC, Inc., as the
lead case.

Michael D. Sirota, Esq., and David M. Bass, Esq., and Felice R.
Yudkin, Esq., at Cole, Schotz, Meisel, Forman & Leonard, P.A., in
Hackensack, N.J., represent the Debtors as counsel. Wilson Elser
Moskowitz Edelman & Dicker LLP serves as special environmental
counsel.

Attorneys at Lowenstein Sandler, PC, represent the Creditors'
Committee as counsel.

The Company's foreign subsidiary, RCC, Inc., formerly known as
Ronson Corporation of Canada Ltd., is not included in the filing.

Upon the closing of the sale of the Company's Aviation Division on
Oct. 15, 2010, the Company ceased to have operations, other
than to effectuate its wind-down and approve its liquidation plan
by the Bankruptcy Court.


ROTECH HEALTHCARE: James Flynn Discloses 5% Equity Stake
--------------------------------------------------------
In a Schedule 13G filing with the U.S. Securities and Exchange
Commission, James E. Flynn and his affiliates disclosed that as of
Aug. 31, 2011, they beneficially own 1,305,924 shares of common
stock of Rotech Healthcare Inc. representing 5.05% of the shares
outstanding.  A full-text copy of the filing is available for free
at http://is.gd/OdzQ6G

                     About Rotech Healthcare

Based in Orlando, Florida, Rotech Healthcare Inc. (NASDAQ: ROHI)
-- http://www.rotech.com/-- provides home medical equipment and
related products and services in the United States, with a
comprehensive offering of respiratory therapy and durable home
medical equipment and related services.  The company provides
equipment and services in 48 states through approximately 500
operating centers located primarily in non-urban markets.

The Company reported a net loss of $4.20 million on $496.42
million of net revenue for the year ended Dec. 31, 2010, compared
with a net loss of $21.08 million on $479.87 million of net
revenue during the prior year.

The Company's balance sheet at June 30, 2011, showed $289.17
million in total assets, $571.50 million in total liabilities,
$4.90 million in Series A convertible redeemable preferred stock
and a $287.22 million total stockholders' deficiency.

                           *     *     *

In October 2010, Standard & Poor's Ratings Services raised its
corporate credit rating on Rotech Healthcare to 'B-' from 'CCC'.
The outlook is positive.

In the March 22, 2011, edition of the TCR, Standard & Poor's
Ratings Services said that it raised its corporate credit rating
to 'B' from 'B-' on Orlando, Fla.-based Rotech Healthcare Inc.,
following the completion of the company's $290 million second-lien
senior secured notes offering.  "The ratings on Rotech Healthcare
Inc. reflect the company's weak business risk profile,
incorporating Rotech's exposure to Medicare reimbursement
reductions for its products and services," said Standard & Poor's
credit analyst Jesse Juliano.  The rating also reflects the
company's highly leveraged financial risk profile.

As reported by the Troubled Company Reporter on March 10, 2011,
Moody's Investors Service upgraded Rotech Healthcare Inc.'s
Corporate Family Rating and Probability of Default Rating to
B2 from Caa1 in connection with the proposed refinancing of
the company's senior subordinated notes due 2012 with a new
$290 million of senior secured notes offering due 2018.  The B2
Corporate Family Rating reflects Moody's expectation that
the company will continue its trend of improving credit metrics
through better operating performance and small strategic
acquisitions.  Moody's expects credit metrics to be relatively
weak, albeit in line with the B2 rating with debt-to-EBITDA
leverage of approximately 4.9 times at the time of the
transaction.  However Moody's also expects additional de-
leveraging over time through EBITDA expansion and the generation
of modest free cash flow.


ROUND TABLE: To Hire Cooper White for Franchise Litigation
----------------------------------------------------------
Round Table Pizza, Inc., asks the U.S. Bankruptcy Court for the
Northern District of California for authority to employ Cooper,
White & Cooper LLP as a counsel for the special purpose of
providing franchise litigation advice and representation.

Robert Ebe, Esq., a member of the firms assures the Court that his
firm is a "disinterested person" as the term is defined in Section
101(14) of the Bankruptcy Code.

                        About Round Table

Based in Concord, California, Round Table Pizza, Inc. --
http://www.roundtablepizza.com/-- is a private, 100% employee-
owned company with corporate offices based in Concord, California.
Round Table is largely owned by an Employee Stock Ownership Plan,
with 3,190 participants.  The ESOP is designed and intended to
provide a source of retirement income to Round Table's loyal,
long-term employees.

Round Table filed for Chapter 11 bankruptcy protection (Bankr.
N.D. Calif. Case No. 11-41431) on Feb. 9, 2011.  Judge Roger L.
Efremsky presides over the case.  Scott H. McNutt, Esq., at McNutt
Law Group serves as the Debtor's bankruptcy counsel.  The Debtors
also tapped Frank, Rimerman & Co. as an auditor and accountant.
Round Table disclosed $1,066,524 in assets and $35,625,649 in
liabilities as of the Chapter 11 filing.

The case is jointly administered with affiliates -- The Round
Table Franchise Corporation, Round Table Development Company, and
Round Table Pizza Nevada LLC.

The official committee of unsecured creditors has tapped
Brownstein Hyatt Farber Schreck, LLP as counsel.  The Debtor also
tapped First Bankers Trust Services, Inc. as discretionary,
independent, and institutional ESOP Trustee, and Johanson Berenson
LLP as an ESOP counsel.

First Bankers Trust Services, Inc., was appointed as institutional
trustee of the Round Table Restated Employee Stock Ownership Plan
and Trust (ESOP).  Johanson Berenson LLP serves as an ESOP
counsel.


ROUND TABLE: Taps Meyers Harrison as Financial Consultant
---------------------------------------------------------
Round Table Pizza, Inc., asks the U.S. Bankruptcy Court for the
Northern District of California for authority to employ Meyers,
Harrison & Pia, LLC as financial consultant for First Bankers
Trust Services, Inc. effective as of July 13, 2011.

FBTS was appointed as the sole discretionary, independent and
institutional trustee of the Round Table Restated Employee Stock
Ownership Plan and Trust.

The professional services that MHP will render to FBTS include,
without limitation:

   (a) analyzing the financial implications to the Round Table
       Restated Employee Stock Ownership Plan and the Round Table
       Restated Employee Stock Ownership Trust as a result of the
       pending bankruptcy action and plan of reorganization of
       Round Table Pizza, Inc.; and

   (b) analyzing the current compensation arrangements with RTP's
       management as well as any accrued compensation balances in
       order to advise FBTS of alternative arrangements including
       the possibility of the implementation of a synthetic
       equity plan.

MHP's fees will be based on hourly rates and will be $45,000 to
$95,000 for compensation consulting and bankruptcy financial
consulting and will not exceed $70,000 without first notifying
FBTS.

MHP will obtain prior written approval for any out-of-pocket
expenses related to valuation that exceed $500 and any out-of-
pocket expenses related to travel that exceed $2,500.

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

                        About Round Table

Based in Concord, California, Round Table Pizza, Inc. --
http://www.roundtablepizza.com/-- is a private, 100% employee-
owned company with corporate offices based in Concord, California.
Round Table is largely owned by an Employee Stock Ownership Plan,
with 3,190 participants.  The ESOP is designed and intended to
provide a source of retirement income to Round Table's loyal,
long-term employees.

Round Table filed for Chapter 11 bankruptcy protection (Bankr.
N.D. Calif. Case No. 11-41431) on Feb. 9, 2011.  Judge Roger L.
Efremsky presides over the case.  Scott H. McNutt, Esq., at McNutt
Law Group serves as the Debtor's bankruptcy counsel.  The Debtors
also tapped Frank, Rimerman & Co. as an auditor and accountant.
Round Table disclosed $1,066,524 in assets and $35,625,649 in
liabilities as of the Chapter 11 filing.

The case is jointly administered with affiliates -- The Round
Table Franchise Corporation, Round Table Development Company, and
Round Table Pizza Nevada LLC.

The official committee of unsecured creditors has tapped
Brownstein Hyatt Farber Schreck, LLP as counsel.  The Debtor also
tapped First Bankers Trust Services, Inc. as discretionary,
independent, and institutional ESOP Trustee, and Johanson Berenson
LLP as an ESOP counsel.

First Bankers Trust Services, Inc., was appointed as institutional
trustee of the Round Table Restated Employee Stock Ownership Plan
and Trust (ESOP).  Johanson Berenson LLP serves as an ESOP
counsel.


SAGEFIELD LLC: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Sagefield, LLC
        P.O. Box 339
        Rixeyville, VA 22737

Bankruptcy Case No.: 11-16495

Chapter 11 Petition Date: September 2, 2011

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

Judge: Brian F. Kenney

Debtor's Counsel: Ronald J. Aiani, Esq.
                  86 East Lee St.
                  Warrenton, VA 20186-3328
                  Tel: (540) 347-5295
                  E-mail: raiani@aianilaw.com

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

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

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

The petition was signed by Sharon Y. Darling, sole member.


SALPARE BAY: Court Confirms Third Amended Chapter 11 Plan
---------------------------------------------------------
On Aug. 15, 2011, the U.S. Bankruptcy Court for the District of
Oregon confirmed Salpare Bay, LLC's Third Amended Chapter 11 Plan
dated June 13, 2011, as modified at the time of the Aug. 11, 2011
confirmation hearing.

The Effective Date of the Plan will occur on the 15th day after
this Order is entered.

Paragraph 4.5 is amended to read as follows:

4.5 Class 9 - Common Fund Claim.  Class 9 is impaired.  Class 9
consists solely of the claim of Stoel Rives.  The holder of the
allowed Class 9 Claim shall be paid as follows: (1) quarterly
interest only payments at the rate of 3.25% per annum to be paid
on the last day of the calendar quarter commencing with the first
full quarter after the Effective Date; and (2) one-half of the
balance of the Class 9 Claim on Dec. 31, 2016, and the remainder
of the Class 9 Claim on Dec. 31, 2017.

As reported in the TCR on June 27, 2011, the Bankruptcy Court
approved on June 17, 2011, the disclosure statement explaining the
Debtor's plan of reorganization.

A redlined version of the Third Amended Disclosure Statement,
dated June 14, 2011, is available for free at:

             http://ResearchArchives.com/t/s?7651

                       About Salpare Bay

Vancouver, Washington-based Salpare Bay LLC operates a
condominium.  Salpare Bay filed for Chapter 11 bankruptcy
protection (Bankr. D. Ore. Case No. 10-35333) on June 7, 2010.
Tara J. Schleicher, Esq., at Farleigh Wada Witt, in Portland,
Oregon, represents the Debtor.  The Company estimated assets and
debts at $10 million to $50 million.  A creditors committee has
not been appointed in this case.


SBARRO INC: Wins Judge Nod to Auction Assets
--------------------------------------------
Samuel Howard at Bankruptcy Law360 reports that U.S. Bankruptcy
Judge Shelley C. Chapman on Friday cleared the way for Sbarro Inc.
to auction its assets in an effort to attract a bid that brings in
more than the planned debt-for-equity swap with the pizza chain's
lenders.

According to Law360, Judge Chapman approved the bidding procedures
over objections from creditors who had lobbied for a piecemeal
liquidation of the assets, allowing the bankrupt pizzeria to cast
around for superior offers to the baseline sale proposed in the
Chapter 11 plan.

                       About Sbarro Inc.

The Sbarro family started its business after moving to Brooklyn,
New York, from Naples, Italy, in 1956.  Today Sbarro is a leading,
global Italian quick service restaurant concept with approximately
5,170 employees, 1,045 restaurants throughout 42 countries, and
annual revenues in excess of $300 million.

Sbarro Inc. sought bankruptcy protection under Chapter 11 (Bankr.
S.D.N.Y. Lead Case No. 11-11527) to eliminate about $200 million
in debt.  The Debtor disclosed $51,537,899 in assets and
$460,975,646 in liabilities as of the Chapter 11 filing.

Sbarro said it has reached an agreement with all of its second-
lien secured lenders and approximately 70% of its senior
noteholders on the terms of a reorganization plan that will
eliminate more than half of the Company's total indebtedness.

Edward Sassower, Esq., and Nicole Greenblatt, Esq., at Kirkland &
Ellis, LLP, serve as the Debtors' general bankruptcy counsel.
Rothschild, Inc., is the Debtors' investment banker and financial
advisor.  PriceWaterhouseCoopers LLP is the Debtors' bankruptcy
consultants.  Marotta Gund Budd & Dzera, LLC, is the Debtors'
special financial advisor.  Curtis, Mallet-Prevost, Colt & Mosle
LLP serves as the Debtors' conflicts counsel.  Epiq Bankruptcy
Solutions, LLC, is the Debtors' claims agent.  Sard Verbinnen & Co
is the Debtors' communications advisor.


SEAVIEW PLACE: Court Approves Oxtal Real Estate as Appraiser
------------------------------------------------------------
The Hon. K. Rodney May of the U.S. Bankruptcy Court for the Middle
District of Florida authorized Seaview Place Developers, Inc., et
al., to employ Ronald A. Oxtal of Oxtal Real Estate Advisors,
Inc., to provide appraisal and valuation services with respect to
certain real property located in New Port Richey and Bellair,
Florida.

The Debtors related that the Plan contemplates, among other
things, providing certain secured creditors with all or some
portion of their respective collateral in full satisfaction of
their allowed secured claims.  This approach necessarily entails a
valued (either by consent of the parties or by judicial
determination) of the collateral to be provided to the respective
secured creditors as the "indubitable equivalent" of their claims.

Oxtal is expected to, among other things:

   i) assist with the evaluation and appraisal of their respective
      property for the purpose of determining the value of the
      property in connection with the motion for relief from stay
      filed by Premier American Bank and the Debtors' Plan and the
      treatment of the secured claims; and

  ii) provide expert testimony with respect to the valuation at or
      in connection with confirmation of the Debtors' Plan and
      other purposes in the Bankruptcy cases.

The Debtors proposed to immediately pay the appraiser the
requested retainer of $13,250, with $7,950 due upon submission of
the reports, and the balance plus any additional actual hourly
costs for consultation or research not included in the appraisal
fee.

The Court authorized the Debtors to pay the appraiser an initial
retainer as:

         Company                   Amount
         -------                   ------
         Seaview                   $5,000
         Gulf                      $5,000
         Harbor                    $1,500

The Debtors are authorized to pay the appraiser fee from available
funds, which may include proceeds from their respective approved
postpetition loans.  The non-debtor affiliate, Dockside at Gulf
Landings, Inc. will be responsible for paying its portion of the
appraisal fee in accordance with the agreement, pending further
order of the Court.

Following substantial completion and submission to the Debtors of
the appraisal reports, an amount sufficient to pay 80% of the
appraisal fee, along with 80% of any accrued hourly fees and costs
will be due from the Debtors subject to these procedures:

   A. The appraiser will be entitled to periodically file one or
      more fee statements for the balance of the appraisal fees
      owed by each Debtor after application of the initial
      retainer, together with any additional hourly costs for
      consultation, research, or similar hourly charges not
      included in the appraisal fee;

   B. The fee statement(s) will be filed with the Court and will
      contain a 10 day negative notice provision in accordance
      with Local Rules.  In the event no objections are timely
      filed to the fee statement, the appraiser will be authorized
      to apply up to 80% of the initial retainer to any due but
      unpaid balances, and the Debtors will thereafter be
      authorized to pay any remaining balance (up to 80% of such
      unpaid amount) to the appraiser from available funds without
      further Court order.

               About Seaview Place Developers, Inc.

Clearwater Beach, Florida-based Seaview Place Developers, Inc.,
filed for Chapter 11 bankruptcy protection (Bankr. M.D. Fla. Case
No. 11-05126) on March 22, 2011.  According to its schedules, the
Debtor disclosed $24,769,500 in total assets and $15,147,744 in
total debts as of the Petition Date.


SEAVIEW PLACE: Wants Secured Status of Gulf Contractors' Claim
--------------------------------------------------------------
Seaview Place Developers, Inc., et al., asks the Bankruptcy Court
for the Middle District of Florida to determine the secured status
of any claim of Gulf Contractors, Inc., and with respect to the
claim, an estimation of Gulf Contractors' interest in the
Seaview Building for operational and confirmation purposes.

The Debtor also request that the Court enter an order determining
that Gulf Contractors has no valid lien in any of the Debtors'
property and to the extent Gulf Contractors does have a lien, the
value of the Seaview Building to determine Gulf Contractor's
interest in same, together with any further relief the Court may
deem appropriate.

The Debtors relate that in connection with their development of
their real property, commonly known as the Seaview Building, the
Debtors retained Crimone Development Corporation as general
contractor who then apparently Gulf Contractors.

The Debtors obtained a bond provided by Fidelity and Deposit
Company of Maryland, in connection with the development.  The
Debtor has completed construction of the Seaview Building.

On Sept. 2, 2008, Gulf Contractors recorded a claim of lien in the
Pasco County public records asserting a claim for $146,940 for
unpaid labor, materials and services secured by an interest in the
Seaview Building.

On Dec. 5, 2008, Gulf Contractors initiated an action against
Seaview and Crimone in the Circuit Court of the Sixth Judicial
Circuit in and for the County of Pasco.

On Dec. 17, 2008, Gulf Contractors recorded an Amended Notice of
Lis Pendens in the Pasco County public records regarding the State
Court Action.

Gulf Contractors received notice of the Debtors' bankruptcy
filing, but failed to file a timely proof of claim.

The Debtors add that the bond is up for renewal on Sept. 2, 2011,
which would require an expenditure of approximately $5,000 from
the Debtor.

               About Seaview Place Developers, Inc.

Clearwater Beach, Florida-based Seaview Place Developers, Inc.,
filed for Chapter 11 bankruptcy protection (Bankr. M.D. Fla. Case
No. 11-05126) on March 22, 2011.  According to its schedules, the
Debtor disclosed $24,769,500 in total assets and $15,147,744 in
total debts as of the Petition Date.


SGTB LODGINGS: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: SGTB Lodgings, LLC
        dba La Quinta Inn
        3400 Parkwood Blvd.
        Frisco, TX 75034

Bankruptcy Case No.: 11-42751

Chapter 11 Petition Date: September 2, 2011

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

Debtor's Counsel: Arthur I. Ungerman, Esq.
                  8140 Walnut Hill Lane, Suite 301
                  Dallas, TX 75231
                  Tel: (972) 239-9055
                  Fax: (972) 239-9886
                  E-mail: arthur@arthurungerman.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 Kanwarbir Singh Aulakh, managing
member.


SHAMROCK-SHAMROCK: Taps The Temples Company as Lease Broker
-----------------------------------------------------------
Shamrock-Shamrock, Inc., asks the U.S. Bankruptcy Court for the
Middle District of Florida for permission to employ Pollyann
Martin of The Temples Company to facilitate the lease of the
Debtor's real property located at 821 Nova Rd., Unit 4, Daytona
Bch, Florida.

Pollyann Martin, associate broker of the Temples Company, tells
the Court that firm will receive a broker a commission of $1.50
per square foot to the total space leased to the national tenant
(6500 square feet), or a one-time fee of $9,750.

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

Ms. Martin can be reached at:

         2960 Hartley Road, No. 200
         Jacksonville, FL 32257
         E-mail: pmartin@thetemplescompany.com

                  About Shamrock-Shamrock Inc.

Daytona Beach, Florida-based Shamrock-Shamrock Inc. owns 70
parcels of Florida real property.  It filed for Chapter 11
protection (Bankr. M.D. Fla. Case No. 11-07061) on May 10, 2011.
Judge Arthur B. Briskman presides over the case.  The Law Offices
of Mickler & Mickler serves as bankruptcy counsel.


SHAMROCK-SHAMROCK INC: Kimberly Rezanka OK'd for State Litigation
-----------------------------------------------------------------
The Hon. Arthur B. Briskman of the U.S. Bankruptcy Court for the
Middle District of Florida authorized Shamrock-Shamrock, Inc., to
employ Kimberly B. Rezanka to represent the Debtor in the pending
State Court litigation related to the City of Daytona Beach,
Florida.

As reported in the Troubled Company Reporter on June 27, 2011,
Ms. Rezanka at Dean Mead will provide legal services relating to
the pending claim against the City of Daytona Beach.

The representation of the Debtor is limited to the suit pending in
the Circuit Court of Volusia County, Florida, related to an
eminent domain/taking action filed by the Debtor against the City.
The suit has been pending for 18 months and may produce a
significant return for the Debtor.  The funds will be used to pay
unsecured creditors and future expenses or secured payment related
to the chapter 11 plan of the Debtor.

The principal of the Debtor, Patrick Sullivan, has agreed to pay
all the fees and costs incurred in the representation of the
Debtor.  The compensation for the representation will comprise of
attorneys fee, not to exceed $325 per hour, and all reasonable
fees and costs.

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

                     About Shamrock-Shamrock

Daytona Beach, Florida-based Shamrock-Shamrock Inc. owns 70
parcels of Florida real property.  It filed for Chapter 11
protection (Bankr. M.D. Fla. Case No. 11-07061) on May 10, 2011.
Judge Arthur B. Briskman presides over the case.  The Law Offices
of Mickler & Mickler serves as bankruptcy counsel.  The Company
scheduled assets of $12,284,976 and liabilities of $17,021,201,
owing on mortgages to a variety of lenders.


SHAW GROUP: Moody's Says Rating Unaffected by Westinghouse Sale
---------------------------------------------------------------
Moody's Investors Service said The Shaw Group Inc.'s ("Shaw",
Ba1/positive) decision to sell its 20% interest in Westinghouse
back to Toshiba Corporation (Baa2/stable) is a positive credit
development but does not immediately influence its ratings or
outlook.

The principal methodology used in rating Shaw was the Global
Construction Industry Methodology published in November 2010.


SHELL KNOB: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: Shell Knob Commercial Group, LLC
        dba The Playce
        Jason Gilbert-Manager
        15131 El Camino Real
        Del Mar, CA 92014

Bankruptcy Case No.: 11-30844

Chapter 11 Petition Date: September 2, 2011

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

Judge: Jerry W. Venters

Debtor's Counsel: M. Brent Hendrix, Esq.
                  LAW OFFICE OF M. BRENT HENDRIX
                  1909 E. Bennett St.
                  Springfield, MO 65804
                  Tel: (417) 889-8820
                  Fax: (417) 889-3493
                  E-mail: brenthendrix@sbcglobal.net

Scheduled Assets: $2,500,000

Scheduled Debts: $1,023,000

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

The petition was signed by Jason Gilbert, manager of Fidelis
Properties, Inc., Debtor's manager.


SHER INCORPORATED: Case Summary & 5 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Sher Incorporated
        fka Sunset Lodge
        2942 Ember Drive
        Decatur, GA 30034

Bankruptcy Case No.: 11-75905

Chapter 11 Petition Date: September 5, 2011

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

Debtor's Counsel: John C. Pennington, Esq.
                  JOHN C. PENNINGTON, P.C.
                  P.O. Box 275
                  Helen, GA 30545
                  Tel: (706) 878-0033
                  Fax: (706) 878-9916
                  E-mail: jcppc@windstream.net

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

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/ganb11-75905.pdf

The petition was signed by Sher S. Kala, CEO.


SHILO INN: Withdraws Motions to Extend Exclusivity Periods
----------------------------------------------------------
Shilo Inn, Killeen, LLC, has voluntarily withdrawn its motion to
extend its exclusivity periods for filing a plan of reorganization
and obtaining acceptances thereof [docket entry no. 58}.

In a separate motion, Shilo Inn, Diamond Bar, LLC, also
voluntarily withdrew its motion to extend its exclusivity periods
[docket enty no. 57].

                         About Shilo Inn

Portland, Oregon-based Shilo Inn, Killeen, LLC, filed for
Chapter 11 bankruptcy (Bankr. C.D. Calif. Case No. 10-62057) on
Dec. 6, 2010.  David B. Golubchik, Esq., and John-Patrick M.
Fritz, Esq., at Levene Neale Bender Rankin and Brill LLP, in Los
Angeles, serve as bankruptcy counsel.  The Debtor estimated its
assets and debts at $10 million to $50 million.

Affiliate Shilo Inn, Diamond Bar, LLC (Bankr. C.D. Calif. Case No.
10-60884) filed separate Chapter 11 petition on Nov. 29, 2010.

The case is jointly administered with Shilo Inn Killeen.


SHILOH INN: Court Continues Disclosures Hearing to Nov. 10
----------------------------------------------------------
On Aug. 16, 2011, the U.S. Bankruptcy Court for the Central
District of California, having considered the stipulation by and
between Shilo Inn, Diamond Bar, LLC, and secured creditor Cathay
Bank, continued the hearing to consider the adequacy of the
disclosure statement explaining Shilo Inn, Diamond Bar LLC's plan
to Nov. 10, 2011, at 1:30 p.m.

The parties stipulated to continue the hearing to November 10 in
order to allow the Debtor and Cathay sufficient time to attempt to
reach an amicable resolution of their dispute and to avoid the
time and expense of filing and litigating a contested disclosure
statement and plan.

The hearing to consider the adequacy of Diamond Bar's disclosure
statement had been scheduled for Sept. 22, 2011.

                         About Shilo Inn

Portland, Oregon-based Shilo Inn, Killeen, LLC, filed for
Chapter 11 bankruptcy (Bankr. C.D. Calif. Case No. 10-62057) on
Dec. 6, 2010.  David B. Golubchik, Esq., and John-Patrick M.
Fritz, Esq., at Levene Neale Bender Rankin and Brill LLP, in Los
Angeles, serve as bankruptcy counsel.  The Debtor estimated its
assets and debts at $10 million to $50 million.

Affiliate Shilo Inn, Diamond Bar, LLC (Bankr. C.D. Calif. Case No.
10-60884) filed separate Chapter 11 petition on Nov. 29, 2010.

The case is jointly administered with Shilo Inn Killeen.


SILVERLAKE LLC: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Silverlake, LLC/Silverland, LLC
        2710 Garden Falls Drive
        Manvel, TX 77578

Bankruptcy Case No.: 11-37685

Chapter 11 Petition Date: September 5, 2011

Court: United States Bankruptcy Court
       Southern District of Texas (Houston)

Judge: Marvin Isgur

Debtor's Counsel: C Michael Black, Esq.
                  LAW OFFICE OF C. MICHAEL BLACK
                  One Sugar Creek Center Blvd., Ste 1080
                  Sugar Land, TX 77478
                  Tel: (713) 522-5999
                  Fax: (713) 522-2925
                  E-mail: cmb@cmblack-lawyer.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 Kevin Ngo, managing member.


SINCLAIR BROADCAST: Inks Pact to Buy Four Points for $200 Million
-----------------------------------------------------------------
Sinclair Broadcast Group, Inc., on Sept. 8, 2011, entered into a
definitive agreement to purchase the assets of Four Points Media
Group LLC from affiliates of Cerberus Capital Management, L.P.,
for $200 million.  Four Points owns and operates seven stations in
four markets.  The transaction is expected to close during the
first quarter of 2012 subject to approval of the Federal
Communications Commission and customary antitrust clearance.
Following receipt of antitrust approval of the transaction, which
is expected to occur within 30 days, the Company will provide
services to the stations pursuant to a local marketing agreement.
The Company expects to finance the purchase of the assets with a
new term loan, a draw on its revolving line of credit, or cash on
hand.

                      About Sinclair Broadcast

Based in Baltimore, Maryland, Sinclair Broadcast Group, Inc.
(Nasdaq: SBGI) -- http://www.sbgi.net/-- one of the largest and
most diversified television broadcasting companies, currently owns
and operates, programs or provides sales services to 58 television
stations in 35 markets.  The Company's television group reaches
roughly 22% of U.S. television households and includes FOX,
ABC, CBS, NBC, MNT, and CW affiliates.

The Company's balance sheet at June 30, 2011, showed $1.49 billion
in total assets, $1.63 billion in total liabilities and a $135.30
million total deficit.

                           *     *     *

As reported by the TCR on Feb. 24, 2011, Standard & Poor's Ratings
Services raised its corporate credit rating on Hunt Valley, Md.-
based TV broadcaster Sinclair Broadcast Group Inc. to 'BB-' from
'B+'.  The rating outlook is stable.  "The 'BB-' rating on
Sinclair reflects S&P's expectation that the company could keep
its lease-adjusted debt to EBITDA below historical levels
throughout the election cycle, absent a reversal of economic
growth, meaningful debt-financed acquisitions, or significant
shareholder-favoring measures," explained Standard & Poor's credit
analyst Deborah Kinzer.

Moody's raised its ratings for Sinclair Broadcast Group, Inc., and
subsidiary Sinclair Television Group, Inc., including the
Corporate Family Rating and Probability-of-Default Rating, each to
Ba3 from B1, and the ratings for individual debt instruments,
concluding its review for possible upgrade as initiated on
Aug. 5, 2010.  Moody's also assigned a B2 (LGD 5, 87%) rating to
the proposed $250 million issuance of Senior Unsecured Notes due
2018 by STG.  The Speculative Grade Liquidity Rating remains
unchanged at SGL-2.  The rating outlook is now stable.

As reported by the Troubled Company Reporter on Feb. 24, 2011,
Standard & Poor's Ratings Services raised its corporate credit
rating on Hunt Valley, Md.-based TV broadcaster Sinclair Broadcast
Group Inc. to 'BB-' from 'B+'.  The rating outlook is stable.

"The 'BB-' rating on Sinclair reflects S&P's expectation that the
company could keep its lease-adjusted debt to EBITDA below
historical levels throughout the election cycle, absent a reversal
of economic growth, meaningful debt-financed acquisitions, or
significant shareholder-favoring measures," explained Standard &
Poor's credit analyst Deborah Kinzer.


SMART ONLINE: Sells Add'l $500,000 Convertible Note Due 2013
------------------------------------------------------------
Smart Online, Inc., sold an additional convertible secured
subordinated note due Nov. 14, 2013, in the principal amount of
$500,000 to a current noteholder upon substantially the same terms
and conditions as the previously issued notes sold on Nov. 14,
2007, Aug. 12, 2008, Nov. 21, 2008, Jan. 6, 2009, Feb. 24, 2009,
April 3, 2009, June 2, 2009, July 16, 2009, Aug. 26, 2009,
Sept. 8, 2009, Oct. 5, 2009, Oct. 9, 2009, Nov. 6, 2009, Dec. 23,
2009, Feb. 11, 2010, April 1, 2010, June 2, 2010, July 1, 2010,
Aug. 13, 2010, Aug. 30, 2010, Sept. 14, 2010, Sept. 30, 2010,
Nov. 9, 2010, Feb. 7, 2011, March 4, 2011, April 6, 2011, and
May 4, 2011.  The Company is obligated to pay interest on the New
Note at an annualized rate of 8% payable in quarterly installments
commencing Dec. 6, 2011.  The Company is not permitted to prepay
the New Note without approval of the holders of at least a
majority of the aggregate principal amount of the Notes then
outstanding.

The Company plans to use the proceeds to meet ongoing working
capital and capital spending requirements.

The sale of the New Note Shares was made pursuant to an exemption
from registration in reliance on Registration D promulgated under
the Securities Act of 1933, as amended.

                        About Smart Online

Headquartered in Durham, North Carolina, Smart Online, Inc. (OTC
BB: SOLN) -- http://www.smartonline.com/-- develops and markets
software products and services targeted to small  businesses that
are delivered via a Software-as-a-Service (SaaS), or SaaS, model.
The Company also provides Web site consulting services, primarily
in the e-commerce retail industry products and services.

The Company reported a net loss of $3.95 million on $1.03 million
of total revenue for the year ended Dec. 31, 2010, compared with a
net loss of $9.54 million on $1.42 million of total revenue during
the prior year.

The Company's balance sheet at June 30, 2011, showed $1.28 million
in total assets, $22.34 million in total liabilities and a $21.06
million total stockholders' deficit.

As reported by the TCR on April 4, 2011, Cherry, Bekaert &
Holland, LLP, in Raleigh, North Carolina, noted that the Company
has suffered recurring losses from operations and has a working
capital deficiency as of Dec. 31, 2010.  These conditions,
according to the independent auditors, raise substantial doubt
about the Company's ability to continue as a going concern, the
auditors said.


SOLAR THIN: Updates Status of Business with SEC
-----------------------------------------------
Solar Thin Films, Inc., has discontinued operations with respect
to the sale of turnkey factories for the production of thin film
solar modules.  The Company has restructured its business and is
concentrating on establishing, financing, managing and syndicating
solar farms as power projects both domestically and
internationally.  There can be no assurance that those businesses
will be successful.

Although the Company is required to file quarterly and annual
reports with the SEC, it is delinquent in its annual report for
the year ended Dec. 31, 2010, and its quarterly reports for the
periods ending March 31, 2011, and June 30, 2011.  Accordingly the
information contained in existing SEC filings is not a fair and
accurate representation of the Company's business or finances.

The Company said it anticipates substantial business operations in
the near future.  There can be no assurance of what volume of
business operations the Company will have or that those operations
will be successful.

The Company anticipates converting a substantial portion of its
outstanding debt into equity in order to reduce its indebtedness
and improve its balance sheet.  Although the effect will be to
issue substantial additional shares which will dilute existing
shareholders' percentage ownership in the Company, management
believes it is in the Company's best interests to do so to improve
the overall value of the Company and its shares.  However, there
can be no assurance that the Company will be able to convert any
of its debt or the terms upon which such debt will be converted.

A default judgment was entered against the Company on June 13,
2011, in the County Court of Dallas County, Texas, in favor of
Doed Corporation in the sum of $494,533.  The Company anticipates
that the debt underlying this judgment will be converted and that
upon conversion the Company will receive a satisfaction of
judgment.

                         Legal Proceedings

Four limited partners of Algatec Equity Partners, L.P., owning
approximately 4.5% of the limited partnership interests of Algatec
commenced an arbitration proceeding which challenged an exchange
of assets between Algatec and the Company.  These four limited
partners also filed an application in the Supreme Court of the
State of New York, Country of New York.  Although the Company was
not named as a party, Robert M. Rubin, the Company's President,
CEO and Sole Director who is also a managing member of the general
partner of Algatec, was named as a defendant.  As a part of the
settlement agreement resolving this matter, the Company is not
proceeding with the previously proposed transaction with Algatec.

The Company is defending a lawsuit commenced in the Court of
Common Pleas of Bucks County Pennsylvania by James S. Molinaro
against the Company and Atlantis Solar, LLC, a company it
purchased from Molinaro.  Molinaro alleges that the Company has
failed to meet its obligations with respect to a Stock Purchase
Agreement dated as of May 21, 2010, by and among Atlantis,
Molinaro and the Company.  Molinaro alleges that the Company has
not made required capital contributions to Atlantis, as a result
of which Atlantis has been unable to pay Molinaro his salary.  The
suit alleges lost profits of $1,500,000 and claims additional
damages in excess of $33,260.  The Company intends to vigorously
defend such lawsuit.

                      Officers and Directors

Robert M. Rubin is currently the Company's sole Officer and
Director.  Other Officers and Directors disclosed in prior SEC
filings tendered their resignations for various personal reasons.
The Board of Directors has passed a resolution authorizing Barry
Pomerantz to sign documents approved by the Board of Directors.

                          About Solar Thin

Headquartered in New York, Solar Thin Films, Inc., engages in
the design, manufacture and installation of thin-film amorphous
silicon ("a-Si") photovoltaic turnkey manufacturing facilities.

RBSM LLP, in New York, N.Y., expressed substantial doubt about
Solar Thin Films, Inc.'s ability to continue as a going concern,
following the Company's 2009 results.  The independent auditors
noted that the Company has suffered recurring losses from
operations.

The Company's balance sheet at Sept. 30, 2010, showed
$2.05 million in total assets, $5.40 million in total liabilities,
and a stockholders' deficit of $3.35 million.


STILLWATER INVESTMENT: Case Summary & 6 Largest Unsec Creditors
---------------------------------------------------------------
Debtor: Stillwater Investment Group, LLC
        2851 Trent Road
        New Bern, NC 28562

Bankruptcy Case No.: 11-06747

Chapter 11 Petition Date: September 2, 2011

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

Judge: Stephani W. Humrickhouse

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: $8,049,287

Scheduled Debts: $5,984,465

A list of the Company's six largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/nceb11-06747.pdf

The petition was signed by Thomas A. Bayliss, IV, managing member.


SUGARLEAF TIMBER: Court Approves Brennan Manna as Main Counsel
--------------------------------------------------------------
The Bankruptcy Court has authorized Sugarleaf Timber LLC to employ
as its bankruptcy counsel:

          Robert D. Wilcox, Esq.
          Brian N. Krulick, Esq.
          BRENNAN, MANNA & DIAMOND, PL
          800 W. Monroe Street
          Jacksonville, FL 32202
          Tel: 904-366-1500
          Fax: 904-366-1501
          E-mail: rdwilcox@bmdpl.com
                  bnkrulick@bmdpl.com

Mr. Wilcox's hourly rate is $305.  Mr. Krulick's is $205.

                      About Sugarleaf Timber

Sugarleaf Timber, LLC, in Jacksonville, Florida, filed for Chapter
11 bankruptcy (Bankr. M.D. Fla. Case No. 11-03352) on May 8, 2011.
Chief Bankruptcy Judge Paul M. Glenn presides over the case.
Robert D. Wilcox, Esq., at Brennan, Manna & Diamond, PL, serves as
the Debtor's bankruptcy counsel.

In its Schedules, the Debtor disclosed assets of $31,016,486 and
liabilities of $26,781,079.  The petition was signed by Victoria
D. Towers, manager of Diversified Investments of Jacksonville LLC,
which serves as manager to the Debtor.


SUGARLEAF TIMBER: Hires Broom Moody as Property Appraiser
---------------------------------------------------------
Sugarleaf Timber LLC sought and obtained authority from the U.S.
Bankruptcy Court for the Middle District of Florida to employ
Broom Moody Johnson & Grainger, Inc. and Farley J. Grainger, CRE,
MAI as consulting property appraiser.

The Debtor will pay Mr. Grainger a $300 hourly fee.

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

                      About Sugarleaf Timber

Sugarleaf Timber, LLC, in Jacksonville, Florida, filed for Chapter
11 bankruptcy (Bankr. M.D. Fla. Case No. 11-03352) on May 8, 2011.
Chief Bankruptcy Judge Paul M. Glenn presides over the case.
Robert D. Wilcox, Esq., at Brennan, Manna & Diamond, PL, serves as
the Debtor's bankruptcy counsel.

In its Schedules, the Debtor disclosed assets of $31,016,486 and
liabilities of $26,781,079.  The petition was signed by Victoria
D. Towers, manager of Diversified Investments of Jacksonville LLC,
which serves as manager to the Debtor.


SUNSHINE HOSPITALITY: Case Summary & 7 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Sunshine Hospitality, LLC
        411 Allenby Dr
        Marysville, OH 43040-9176

Bankruptcy Case No.: 11-59164

Chapter 11 Petition Date: September 2, 2011

Court: United States Bankruptcy Court
       Southern District of Ohio (Columbus)

Judge: John E. Hoffman Jr.

Debtor's Counsel: Patricia A. Kovacs, Esq.
                  500 Madison Ave., Suite 525
                  Toledo, OH 43604
                  Tel: (419) 241-4050
                  Fax: (419) 241-8726
                  E-mail: patricia.kovacs@bex.net

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

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

A list of the Company's seven largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ohsb11-59164.pdf

The petition was signed by Gurjeet Kaur.


SUSTAINABLE ENVIRONMENTAL: Amends WES Technology Purchase Pact
--------------------------------------------------------------
Sustainable Environmental Technologies Corporation and its
subsidiary SET IP Holdings LLC, and World Environmental Solutions
Pty Ltd. entered into an amendment to a Technology Purchase
Agreement and its ancillary agreements between the parties,
whereby SET Corp purchased certain technology from WES.

Pursuant to the terms of the Amendment: (i) SET Corp's option to
purchase 3% of the capital stock of WES has been canceled; (ii)
WES' warrant to purchase 5,000,000 shares of SET Corp's common
stock at a price of $0.35 per share has been canceled; (iii) WES'
$200,000 convertible secured promissory note (convertible at $0.35
per hare of SET Corp common stock) issued by SET Corp, and all
security interest granted thereunder, has been canceled; (iv) SET
Corp's ownership of 12% of the capital stock of WES has been
canceled; (v) SET Corp's payment to WES upon certain terms of WES'
successful installation and sale of a MultiGen unit has been
reduced to 3,750,000 shares of SET Corp common stock; (vi) the
maximum share issuance by SET Corp to WES based on WES royalties
paid to SET Corp for certain WES sales of MultiGen units has been
reduced to 5,000,000 shares of SET Corp common stock; (vii) any
shares of SET Corp common stock issued to WES pursuant to the
Agreement, as amended, shall be restricted from transfer for one
year from the date of issuance; (viii) SET Corp maximum royalty
obligation to WES for SET Corp sales of MultiGen units has been
reduced to $500,000; (ix) WES will pay SET Corp a royalty of 10%
of gross revenues for WES sales of MultiGen units; (x) WES and SET
Corp shall split 75/25 certain fees paid to WES in connection with
agency for sales of MultiGen units outside of Australia; and (xi)
the parties have covenanted to use their best efforts in regards
to maintaining distributor status for sourcing components for the
Multigen units.

A full-text copy of the Amendment to Technology Purchase Agreement
is available for free at http://is.gd/yHexBz

                  About Sustainable Environmental

Upland, Calif.-based Sustainable Environmental Technologies
Corporation (formerly RG Global Lifestyles, Inc.) offers water and
wastewater treatment engineering and construction services.

The Company's balance sheet at June 30, 2011, showed $3.39 million
in total assets, $3.50 million in total liabilities and a $101,562
total stockholders' deficit.

During the quarter ended Dec. 31, 2010, the Company incurred an
operating loss from continuing operations before income taxes of
$265,464.  As of Dec. 31, 2010, the Company had a working capital
deficit of approximately $2.3 million.  "These conditions raise
substantial doubt about the Company's ability to continue as a
going concern," the Company said in the filing.


SWADENER INVESTMENT: Can Borrow $225,740 to Pay Ad Valorem Taxes
----------------------------------------------------------------
On Aug. 16, 2011, U.S. Bankruptcy Court for the Northern District
of Oklahoma granted Swadener Investment Properties, LLC,
permission to borrow the sum of $225,740.23 or that amount to pay
the 2007, 2008, 2009, and 23010 ad valorem taxes owed to the Tulsa
County Treasurer so that the Debtor's lease with Witt Properties,
Inc., can be assumed.

The Debtor is a party to a long term lease agreement with Witt
concerning the real estate upon which the Debtor's 19-story
commercial building located at 5810 E. Skelly Drive, in Tulsa,
Okla, is located.  The Debtor's interest in the commercial
building and the lease is referred to as the "Remington Tower."
The term "Remington Tower" does not include Witt's interest
therein.

Valley National Bank will (a) receive an administrative claim with
priority over any or all administrative expenses of the kind
specified in 11 U.S.C. Sections 503(b) or 507(b) in the event a
plan of reorganization is not confirmed, (b) receive a lien as to
the net cash attributable to the commercial buildings in which it
has a mortgage in the event a plan of reorganization is not
confirmed or this case is converted to Chapter 7, and (c) be
secured by the additional amount loaned on the mortgage already in
place against SIP's leasehold interest in the Remington Tower.
The liens and claims  granted to Valley National Bank will be
subject and subordinate to payment of quarterly U.S. Trustee Fees.
No liens will attach to Witt's interest in Remington Tower.

As reported in the TCR on Aug. 30, 2011, the Debtor asked the
Bankruptcy for authority to incur post-petition and super-priority
indebtedness from Valley National Bank of up to $212,517.61, to
pay the 2007, 2008, and 2009 ad valorem taxes owed to the Tulsa
County Treasurer.

                    About Swadener Investment

Tulsa, Oklahoma-based Swadener Investment Properties, LLC, owns
and operates four (4) commmercial office buildings and a retail
shopping Center.  The Company filed for Chapter 11 bankruptcy
protection (Bank. N.D. Okla. Case No. 11-10322) on Feb. 18, 2011.
Scott P. Kirtley, Esq., at Riggs, Abney, Neal, Turpen, Orbison, &
Lewis, in Tulsa, Okla., serves as the Debtor's bankruptcy counsel.
The Debtor estimated its assets and debts at $10 million to $50
million.

Affiliate Pecan Properties, Inc. (Bankr. N.D. Okla. Case No. 11-
10323) filed a separate Chapter 11 petition.


TEN X: Can Access Cole Taylor's Cash Collateral Until Sept. 30
--------------------------------------------------------------
In a second interim order dated Aug. 31, 2011, the U.S. Bankruptcy
Court granted Ten X Capital Partners III, LLC (Series B)
permission to use cash collateral through Sept. 30, 2011, solely
to the extent necessary to meet its monthly expenses and make the
"Adequate Protection Payments" to the Cole Taylor Bank "the
"Secured Creditor") as set forth in a budget.

The Debtor is granted a replacement lien in all of Debtor's assets
to the extent of the Debtor's use of the cash collateral and any
diminution of the value of the Secured Creditor's interest in the
Debtor's assets.  The Replacement Liens will be subject to the
prepetition liens of the Secured Creditor in the Debtor's assets.

A further hearing is set for Sept. 29, 2011, at 10:00 a.m.

As reported previously, Cole Taylor asserts claims against the
Debtor, which as of May 3, 2011, totaled $6,434,850 with interest
accruing from May 3, 2011, at the rate of $2,257.43 per day plus
fees and costs.  Cole Taylor asserts that its claims are secured
by first mortgages on the Debtor's real estate commonly known as
601 W. Polk St., Chicago, IL 60607.  Cole Taylor further asserts
that it holds a lien on all of the rental revenue and receipts
generated by the Real Estate by operation of the assignment of
rents it holds.

                    About Ten X Capital Partners

Ten X Capital Partners III, LLC (Series B) operates an industrial
real property located at 601 W. Polk Street, Chicago, Illinois, as
a telecom hotel and storage facility.  Ten X Capital Partners III,
LLC (Series B) filed a voluntary Chapter 11 petition (Bankr. N.D.
Ill. Case No. 11-27294) on June 30, 2011.  Judge John H. Squires
presides over the case.  The Debtor is represented by Chester H.
Foster, Jr., Esq., at Foster & Smith.  In its petition, the Debtor
estimated $10 million to $50 million in assets, and $1 million to
$10 million in debts.  The petition was signed by John W. Branch,
manager of RM Advisors, LLC.


TENET HEALTHCARE: BlackRock Discloses 11% Equity Stake
------------------------------------------------------
In an amended Schedule 13G filing with the U.S. Securities and
Exchange Commission, BlackRock, Inc., disclosed that as of
Aug. 31, 2011, it beneficially owns 52,349,296 shares of common
stock of Tenet Healthcare Corp. representing 11.05% of the shares
outstanding.  As of July 26, 2011, there were 473,554,717 shares
of the Company's common stock, $0.05 par value, outstanding.  A
full-text copy of the filing is available for free at:

                        http://is.gd/uaY6T9

                       About Tenet Healthcare

Dallas, Texas-based Tenet Healthcare Corporation (NYSE: THC) --
http://www.tenethealth.com/-- is a health care services company
whose subsidiaries and affiliates own and operate acute care
hospitals, ambulatory surgery centers and diagnostic imaging
centers.

The Company's balance sheet at June 30, 2011, showed $8.43 billion
in total assets, $6.54 billion in total liabilities, $16 million
in redeemable noncontrolling interests in equity of consolidated
subsidiaries and $1.87 billion in total equity.

                          *     *     *

As reported by the TCR on Aug. 5, 2010, Moody's Investors Service
affirmed its 'B2' corporate family rating for Tenet.  The rating
reflects Moody's expectation that the Company will likely see
positive free cash flow for the full year ending Dec. 31,
2010, as operating results continue to improve and litigation
settlement payments end in the third quarter.  However, the
ratings also consider the significant headwinds facing the
company, and the sector as a whole, with respect to increasing bad
debt expense, weak volume trends and changes in mix as commercial
volumes decline.

S&P's corporate credit rating on Tenet is 'B' and remains
unchanged.  The ratings agency noted that while the Company has
experience recent successes to date of a multiyear turnaround
effort, the Company has a still-weak business risk profile and
high financial leverage.

Fitch Ratings has issued its Recovery Rating review of the U.S.
Healthcare sector.  This review includes an analysis of valuation
multiples, EBITDA discounts applied, and detailed recovery
worksheets for issuers with a Fitch Issuer Default Rating of 'B+'
or lower in this sector.

Fitch Ratings has placed Tenet Healthcare Corp.'s ratings on
Rating Watch Positive.  Tenet's existing ratings are Issuer
Default Rating 'B-'; Secured bank facility 'BB-/RR1'; Senior
secured notes 'BB-/RR1'; Senior unsecured notes 'B/RR3.  The
ratings apply to approximately $4.3 billion of debt outstanding as
of Sept. 30, 2010.


TENNVADA HOLDINGS: Case Summary & 5 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Tennvada Holdings 1, LLC
        3311 S. Rainbow Boulevard, Suite 209
        Las Vegas, NV 89146

Bankruptcy Case No.: 11-24135

Chapter 11 Petition Date: September 2, 2011

Court: United States Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Linda B. Riegle

Debtor's Counsel: Timothy P. Thomas, Esq.
                  LAW OFFICES OF TIMOTHY P. THOMAS, LLC
                  8670 W. Cheyenne Ave. #120
                  Las Vegas, NV 89129
                  Tel: (702) 227-0011
                  Fax: (702) 227-0015
                  E-mail: TTHOMAS@TTHOMASLAW.COM

Scheduled Assets: $1,000,000

Scheduled Debts: $3,271,345

A list of the Company's five largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/nvb11-24135.pdf

The petition was signed by William Dyer.

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
325 Paso Holdings                      10-34204   12/30/10
Integrated Financial Associates, Inc.  11-13537   03/14/11
Isleton Land Holdings, LP              11-12552   02/25/11
Ranches Holdings, LLC                  11-13006   03/04/11


TFF INCORPORATED: Case Summary & 13 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: TFF Incorporated
        1381 Red Oak Trail
        Fairview, TX 75069

Bankruptcy Case No.: 11-42752

Chapter 11 Petition Date: September 2, 2011

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

Debtor's Counsel: Joyce W. Lindauer, Esq.
                  8140 Walnut Hill Lane, Suite 301
                  Dallas, TX 75231
                  Tel: (972) 503-4033
                  Fax: (972) 503-4034
                  E-mail: courts@joycelindauer.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 13 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/txeb11-42752.pdf

The petition was signed by Paul Tanner, Jr., treasurer.


THORNBURG MORTGAGE: Bank of America Asks Court to Dismiss Suit
--------------------------------------------------------------
Linda Sandler, writing for Bloomberg News, reports that Bank of
America Corp. asked a judge to dismiss a lawsuit against it and
Countrywide Home Loans Inc. filed by defunct Thornburg Mortgage,
saying the trustee liquidating the firm failed "to state a claim,"
according to a court filing.

Trustee Joel Sher filed eight lawsuits in bankruptcy court in
Baltimore in April, seeking money from JPMorgan Chase & Co. and
other banks.

The lawsuit is styled as, JOEL I. SHER, CHAPTER 11 TRUSTEE for
TMST, Inc. f/k/a Thornburg Mortgage, Inc., and ZUNI INVESTORS,
LLC, v. COUNTRYWIDE HOME LOANS, INC. and BANK OF AMERICA
CORPORATION, Adv. Proc. No. 11-00337 (Bankr. D. Md.).

Attorneys for Zuni Investors are David J. Grais, Esq., Mark B.
Holton, Esq., and Leanne M. Wilson, Esq. --
dgrais@graisellsworth.com mholton@graisellsworth.com and
lwilson@graisellsworth.com -- at Grais & Ellsworth LLP, in New
York.

Attorneys for Bank of America Corporation are Jonathan Rosenberg,
Esq., and William J. Sushon -- jrosenberg@omm.com and
wsushon@omm.com -- O'Melveny & Myers LLP in New York.

Attorneys for Countrywide Home Loans, Inc., are Lawrence D.
Coppel, Esq. -- lcoppel@gfrlaw.com -- at Gordon, Feinblatt,
Rothman, Hoffberger & Hollander LLC in Baltimore, Maryland; Joseph
F. Yenouskas, Esq. -- jyenouskas@goodwinprocter.com -- at Goodwin
Procter LLP, in Washington DC; and Brian E. Pastuszenski, Esq.,
John J. Falvey, Jr., Esq., and Matthew G. Lindenbaum, Esq. --
bpastuszenski@goodwinprocter.com jfalvey@goodwinproctor.com and
mlindenbaum@goodwinproctor.com -- at Goodwin Procter in Boston,
Massachusetts.

As reported by the Troubled Company Reporter on May 3, 2011, the
TMST Trustee sued Wall Street banks for $2.2 billion, alleging
they engaged in series of "collusive" and "predatory" schemes that
eventually drove Thornburg into bankruptcy.  The defendants
include:

     * J.P. Morgan Chase & Co.,
     * Citigroup Inc.,
     * Goldman Sachs Group Inc.,
     * Bank of America,
     * Countrywide Home Loans,
     * subsidiaries of Barclays PLC,
     * Credit Suisse Group,
     * Royal Bank of Scotland Group PLC, and
     * UBS AG

In the suit against BofA and Countrywide, the Trustee contends
Countrywide misrepresented the nature of hundreds of home loans
securitized and sold to Thornburg in 2006; and that Bank of
America, now Countrywide's parent, has "engaged in an elaborate
corporate shell game" intended to shed Countrywide's liabilities.
The Trustee is asking the bankruptcy judge overseeing the
Thornburg case to force the bank to repurchase the loans.

                     About Thornburg Mortgage

Based in Santa Fe, New Mexico, Thornburg Mortgage Inc. (NYSE: TMA)
-- http://www.thornburgmortgage.com/-- was a single-family
residential mortgage lender focused principally on prime and
super-prime borrowers seeking jumbo and super-jumbo adjustable
rate mortgages.  It originated, acquired, and retained investments
in adjustable and variable rate mortgage assets.  Its ARM assets
comprised of purchased ARM assets and ARM loans, including
traditional ARM assets and hybrid ARM assets.

Thornburg Mortgage and its four affiliates filed for Chapter 11
bankruptcy (Bankr. D. Md. Lead Case No. 09-17787) on May 1, 2009.
Thornburg changed its name to TMST, Inc.

Judge Duncan W. Keir is handling the case.  David E. Rice, Esq.,
at Venable LLP, in Baltimore, Maryland, served as counsel to
Thornburg Mortgage.  Orrick, Herrington & Sutcliffe LLP served as
special counsel.  Jim Murray, and David Hilty, at Houlihan Lokey
Howard & Zukin Capital, Inc., served as investment banker and
financial advisor.  Protiviti Inc. served as financial advisory
services.  KPMG LLP served as the tax consultant.  Epiq Systems,
Inc., serves claims and noticing agent.  Thornburg disclosed total
assets of $24.4 billion and total debts of $24.7 billion, as of
Jan. 31, 2009.

On Oct. 28, 2009, the Court approved the appointment of Joel I.
Sher as the Chapter 11 Trustee for the Company, TMST Acquisition
Subsidiary, Inc., TMST Home Loans, Inc., and TMST Hedging
Strategies, Inc.  He is represented by Shapiro Sher Guinot &
Sandler.


TIEN SHAN: Case Summary & 5 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: Tien Shan, Inc.
        aka Dairy Ashford Mobil
        3151 S. Dairy Ashford St.
        Houston, TX 77082

Bankruptcy Case No.: 11-37546

Chapter 11 Petition Date: September 2, 2011

Court: United States Bankruptcy Court
       Southern District of Texas (Houston)

Judge: Letitia Z. Paul

Debtor's Counsel: Matthew Hoffman, Esq.
                  LAW OFFICES OF MATTHEW HOFFMAN, P.C.
                  2777 Allen Parkway, Suite 1000
                  Houston, TX 77019
                  Tel: (713) 654-9990
                  Fax: (713) 654-0038
                  E-mail: mhecf@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 five largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/txsb11-37546.pdf

The petition was signed by Alper T. Karaali, shareholder, director
and officer.


TITANIUM GROUP: Posts HK$644,900 Net Loss in Fiscal Q1
------------------------------------------------------
Titanium Group Limited filed its quarterly report on Form 10-Q,
reporting a net loss of HK$644,990 on HK$11.9 million of revenue
for the three months ended June 30, 2011, compared with a net loss
of HK$2.0 million on HK$4,804 of revenue for the same period of
2010.

The Company reported a net loss of HK$2.1 million on
HK$17.0 million of revenue for the six months ended June 30, 2011,
compared with a net loss of HK$3.0 million on HK$9,608 of revenue
for the same period last year.

For the six months ended June 30, 2011, the Group incurred a net
loss of HK$2,081,929 resulting in an accumulated deficit of
HK$22,932,850 and a working capital deficit of HK$3,384,475 at
that date.  "The continuation of the Group as a going concern
through June 30, 2012, is dependent upon the continuing financial
support from its stockholders," the Company said in the filing.
"Management believes, the existing stockholders will provide the
additional cash to meet with the Company's obligations as they
become due."

"These factors raise substantial doubt about the Group's ability
to continue as a going concern."

A copy of the Form 10-Q is available at http://is.gd/HHCMu7

Titanium Group Limited, through its subsidiaries, mainly engages
in the manufacture and sales of electric wire products in the PRC,
with its principal place of business in Shenzhen City, the PRC.


TRACY BROADCASTING: Dist. Ct. Affirms Ruling Against Bank's Lien
----------------------------------------------------------------
Chief District Judge Wiley Y. Daniel upheld a bankruptcy court
decision that Valley Bank and Trust Co. does not have a security
interest in Tracy Broadcasting Corporation's Federal
Communications Commission broadcast license or any proceeds
derived from a further transfer of the License pursuant to
11 U.S.C. Sec. 552(a).

Valley Bank appealed the lower court's decision, asserting that
the Bankruptcy Court's Order errs in four major respects: (1) the
Debtor's private right to accept compensation for a transfer of
its broadcast License is a "general intangible" in which Valley
Bank perfected a security interest, thus, Sec. 552(a) is no bar to
enforcing Valley Bank's security interest if the Chapter 11
Trustee sells the License postpetition; (2) the Bankruptcy Court's
Order confuses Sec. 552(a) with Sec. 552(b); (3) the Bankruptcy
Court's Order errs in assuming the FCC's clear approval of
security interests taken in a broadcast licensee's private right
to accept compensation for the transfer of its broadcast license;
and (4) the Bankruptcy Court's Order errs in mentioning, but not
fully rejecting, case authority "that fail[s] to recognize FCC
approval for security interests in private rights associated with
FCC licenses and refuse[s] to enforce such security interest on
that basis."

"I am not persuaded by Valley Bank's arguments," Judge Daniel said
in a Sept. 1, 2011 Amended Order, a copy of which is available at
http://is.gd/DS3dI2from Leagle.com.

The case before the District Court is styled as, Valley Bank and
Trust Co., Appellant, v. Spectrum Scan, LLC and Joli A. Lofstedt,
Chapter 11 Trustee, Appellees, Civil Action No. 10-cv-02522-WYD
(D. Colo.).

Tracy Broadcasting Corporation, based in Brighton, Colo., sought
Chapter 11 protection (Bankr. D. Colo. Case No. 09-27059) on
Aug. 19, 2009, and is represented by Cynthia T. Kennedy, Esq., at
Kennedy Law Firm in Lafayette, Colo.  At the time of the filing,
the Debtor estimated its assets and debts at less than
$10 million.  On Feb. 16, 2010, the Bankruptcy Court entered an
order appointing Joli A. Lofstedt as Chapter 11 trustee of the
Debtor's estate.


TRIPLE O: Voluntary Chapter 11 Case Summary
-------------------------------------------
Debtor: Triple O Enterprises, Ltd.
        6358 Pinemont Dr.
        Houston, TX 77092

Bankruptcy Case No.: 11-37645

Chapter 11 Petition Date: September 5, 2011

Court: United States Bankruptcy Court
       Southern District of Texas (Houston)

Judge: Marvin Isgur

Debtor's Counsel: Reese W. Baker, Esq.
                  BAKER & ASSOCIATES
                  5151 Katy Freeway, Suite 200
                  Houston, TX 77007
                  Tel: (713) 869-9200
                  Fax: (713) 869-9100
                  E-mail: courtdocs@bakerassociates.net

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 Patricia Oakes, authorized agent.


TUBE CITY: S&P Puts 'B+' Corp. Credit Rating on Watch Positive
--------------------------------------------------------------
Standard & Poor's Ratings Services placed all of its ratings on
Glassport, Pa.-based Tube City IMS Corp., including the 'B+'
corporate credit rating, on CreditWatch with positive
implications. The CreditWatch listing indicates that there is a
50% chance of an upgrade on completion of the review.

"The positive implication of the CreditWatch listing reflects our
expectation that the steel service provider's operating
performance this year will be better than we previously expected,"
said Standard & Poor's credit analyst Maurice Austin. The moderate
recovery in steel production and greater industry capacity
utilization -- now more than 75% -- factor into the raised
expectations.

Standard & Poor's expects to resolve the CreditWatch within the
next several weeks. Any upgrade would likely be limited to one
notch.

"In resolving the CreditWatch listing, we will evaluate the
company's prospects for sustaining its recent operating
improvements," Mr. Austin said. "We will also consider the
company's financial and operating strategies, financial policies,
and our outlook for market conditions."


UNI-PIXEL INC: Appoints Former Samsung Sr. VP Seong Shin as COO
---------------------------------------------------------------
UniPixel, Inc., has appointed former Samsung Electronics senior
vice president, Seong Peter Shin, as its new chief operating
officer.

Mr. Shin brings to UniPixel more than 30 years of experience in IP
and business development, engineering and business management,
global marketing and sales, and research and design.  His
background includes LCD panel technology and fabrication, process
and architecture development, OEM/ODM product development for
display and notebook systems, and major application device
launches.

"UniPixel has established a tremendous foundation of advanced
performance film technology with broad applications across a
number of industries," commented Mr. Shin.  "In particular,
UniPixel's breakthrough UniBoss technology provides for a more
transparent, sensitive, and power efficient touchscreen, thereby
overcoming several major hurdles faced by today's device makers.
UniBoss' design and proprietary manufacturing process can also
dramatically lower material costs and production time, while
generating higher yields.  Its complex micro-structure capability,
along with the recent breakthrough in double-sided production,
opens the door to even greater market opportunities.  I am excited
and proud to join the UniPixel team at this pivotal point in the
company's development."

Reed Killion, UniPixel's president and CEO, commented: "We are
very pleased to welcome Peter to our executive management team as
our new COO.  Peter's extensive background and accomplishments in
the technology sector include many industry firsts for electronic
products, processes and components.  His knowledge of display and
photonics markets and the processes involved align perfectly with
our Performance Engineered Films platform, production processes
and products.  Peter's cross-disciplinary skill set also offers
strong synergistic advantages to our executive management team,
board of directors and employees.  We have developed a culture of
innovation here at UniPixel, and Peter not only complements this
culture, but brings a very strong track record of execution and
success."

Mr. Shin had previously held numerous senior management positions
at Samsung Electronics Co., lastly serving as a senior vice
president of research and development, where he led breakthroughs
in new display technology, nano imprinting technology, roll-to-
roll process architecture, flexible display development with low
temperature process, and low power consumption/high color gamut
devices.  He was responsible for developing Samsung's next
generation panel technology and LED backlight systems, and was
noted for innovations such as reducing the number of panel
production steps.

Earlier in his career at Samsung, he was vice president of
strategic marketing and sales, where he led Samsung's $3 billion
NB LCD Panel business, selling to major customers like Dell, HP,
IBM, Apple, Acer, Gateway, Toshiba, Sony, NEC, Fujitsu, and
Siemens.  He was responsible for introducing new products, and he
maintained the highest profit in the history of Samsung's LCD
business among all product groups.  He also previously served as
the vice president of Samsung's notebook LCD panel development
team, where he optimized gate IC integration, color filter on
array, for thin & light, high color gamut/high resolution, and low
power consumption.

More recently, Mr. Shin helped guide Glonet Systems, a marketer
and manufacturer of networking equipment, in the development of
its new TCON IC technology, helping to create design flexibility
and adoption of its high-speed interface application.

Before Samsung Electronics, Mr. Shin was founder, president and
CEO of Photonage, a developer and manufacturer of a high speed,
zero-EMI interface.  Prior to Photonage, Mr. Shin served as vice
president of the computer technology center at Samsung Information
Systems America, where he was responsible for portable systems
R&D, from concept to new technology, as well as related business
development.

Mr. Shin also previously served as a director of engineering at
Texas Instruments' PPP division, as well as served in an executive
capacity with a successful Silicon Valley startup and mobile
system R&D center.  Mr. Shin earned his Bachelor of Science in
Electrical Engineering from Seoul National University, and his
Master of Science in Electrical Engineering from San Jose State
University.

                        About Uni-Pixel Inc.

The Woodlands, Tex.-based Uni-Pixel, Inc. (OTC BB: UNXL)
-- http://www.unipixel.com/-- is a production stage company
delivering its Clearly Superior(TM) Performance Engineered Films
to the Lighting & Display, Solar and Flexible Electronics market
segments.

The Company reported a net loss of $3.81 million on $243,519 of
thin film revenue for the year ended Dec. 31, 2010, compared with
a net loss of $5.37 million on $0 of thin film revenue during the
prior year.

The Company's balance sheet at June 30, 2011, showed $10.93
million in total assets, $64,742 in total liabilities and $10.86
million total shareholders' equity.

PMB Helin Donovan, LLP, in Houston, expressed substantial doubt
about the Company's ability to continue as a going concern,
following the Company's 2009 results.  The independent auditors
noted that the Company has sustained losses and negative cash
flows from operations since inception.


US FIDELIS: Creditors Sue Mepco Over $57 Million Claim
------------------------------------------------------
Martin Bricketto at Bankruptcy Law360 reports that unsecured
creditors of U.S. Fidelis Inc. sued Mepco Finance Corp. in
Missouri bankruptcy court on Tuesday to disallow a $57 million
claim against the Company's estate, arguing that Mepco should have
known about the company's alleged false marketing and refund
abuses.

"Mepco should not be permitted to stand above the fray, pointing
its finger at all of the players in the industry and placing the
blame on them," the Official Committee of Unsecured Creditors for
U.S. Fidelis Inc. said in its 64-page complaint, according to
Law360.

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

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

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


USEC INC: To Hold Advisory Votes on Exec. Compensation Annually
---------------------------------------------------------------
At USEC Inc.'s 2011 annual meeting of shareholders held on April
28, 2011, a majority of the shares cast voted, on an advisory
basis, to hold future advisory (non-binding) votes on executive
compensation on an annual basis.  After consideration of the
shareholder voting results, the Company has determined that future
advisory (non-binding) votes on executive compensation will occur
annually until the Company decides to hold the next advisory vote
on the frequency of advisory votes on executive compensation.

                          About USEC Inc.

Headquartered in Bethesda, Maryland, USEC Inc. (NYSE: USU) --
http://www.usec.com/-- supplies enriched uranium fuel for
commercial nuclear power plants.

The Company's balance sheet at June 30, 2011, showed $4.12 billion
in total assets, $2.80 billion in total liabilities and $1.32
billion in stockholders' equity.

                         *     *     *

USEC Inc. carries 'Caa1' corporate and probability of default
ratings, with "developing" outlook, from Moody's, and 'CCC+' long
term foreign issuer credit rating and 'CCC-' long term local
issuer credit rating, with outlook "developing", from Standard &
Poor's.

In May 2010, S&P said that its rating and outlook on USEC Inc. are
not affected by the announcement that Toshiba Corp. and Babcock &
Wilcox Investment Co., an affiliate of The Babcock & Wilcox Co.,
have signed a definitive investment agreement for $200 million
with USEC.


VENTANA HILLS: Court Confirms Anglo-Backed Reorganization Plan
--------------------------------------------------------------
The Hon. Pamela S. Hollis of the U.S. Bankruptcy Court for the
Northern District of Illinois confirmed the Plan of Reorganization
proposed by Ventana Hills Associates, Ltd., et al., and Anglo
Irish Bank Corporation Limited dated July 20, 2011.

Anglo Irish is the Debtors' secured creditor and holds a first
mortgage lien on the Debtors' apartment complex and substantially
all of the Debtors' assets.

On July 20, the Debtors and Anglo Irish submitted a stipulation
and agreement in support of the confirmation of the joint Plan.
Among other things, the parties agree that:

   1. the joint Plan supersedes and replaces in all purposes
      herein both the Debtors' Third Amended Plan and Anglo's
      First Amended Plan;

   2. to the extent necessary, both the Debtors and Anglo withdraw
      prior plan and objections to the prior plan;

   3. the Joint Plan is the result of good faith, arms-length
      negotiations between the Debtor, Ivan Djurin and Anglo;

   4. the Anglo settlement requires, among other things:

      -- the proposed joint Plans in both case and Berkeley Manor
      Apartments, L.P. case be confirmed;

      -- the obligations of the Reorganized Debtors to anglo in
      each case be cross collateralized and cross-defaulted; and

      -- the Reorganized Debtors and Dyurin be jointly and
      severally liable for portion the indebtedness of 2241
      Elkhorn, LLC and the 5650 North Sheridan Corporation to
      Anglo, which will be secured by the assets of the
      Reorganized Debtors.

The Plan generally contemplates the continuation of the Debtors'
business, with payment in full, including interest on all allowed
claims, through an extension of the maturity of the Debtors'
secured institutional debt, the payment of the Debtors' real
estate tax debts and the installment payment of the Debtors'
unsecured debt.  The Plan, although containing certain terms
different from the terms of the Debtors' prior Plan does not
adversely alter the treatment of any impaired class of claims who
voted in favor of the Debtors' prior Plan.

A full-text copy of the July 20 Plan is available for free at
http://bankrupt.com/misc/VENTANAHILLS_plan.pdf

                        About Ventana Hills

Ventana Hills Associates, Ltd., is the owner and operator of a
residential apartment project located in Pittsburgh, Pennsylvania,
known as "Ventana Hills Apartments.  Ventana Hills Apartments was
constructed in 2002 as a rental apartment community, in two
phases, and was purchased by the Debtor in 2004 for $50,000.

Ventana Hills Associates and affiliate Ventana Hills Phase II,
L.P., filed for Chapter 11 bankruptcy (Bankr. N.D. Ill.
Case No. 09-41755) on Nov. 3, 2009.  The Debtors each estimated
assets of and debts of $50 million to $100 million in their
respective petitions.  Richard H. Fimoff, Esq., at Robbins,
Salomon & Patt Ltd., in Chicago, Illinois, represent the Debtor.


WASTE2ENERGY HOLDINGS: Executives Balk at Call for Trustee
----------------------------------------------------------
Dow Jones' DBR Small Cap reports that top executives at
Waste2Energy Holdings Inc. rejected a call by creditors to force
them out, arguing that only they possess the expertise to get the
struggling company's first major project off the ground in
Scotland and overhaul the South Carolina-based recycler's
finances.

Greenville, S.C.-based Waste2Energy Holdings, Inc. (Pink Sheets:
WTEZ) -- http://www.waste2energy.com/-- is a "cleantech"
technology company that designs, builds, installs and sells waste
to energy plants that generate "Renewable Green Power" converting
biomass or other solid waste streams traditionally destined for
landfills into clean renewable energy.

The Company incurred a net loss from continuing operations of
$4.0 million and used $1.8 million of cash in continuing
operations for the three months ended June 30, 2010.  At June 30,
2010, the Company had a working capital deficit of $8.8 million
and a $34.5 million accumulated deficit.

The Company's balance sheet at June 30, 2010, showed $3.4 million
in total assets, $11.7 million in total liabilities, and a
stockholders' deficit of $8.3 million.

As reported in the Troubled Company Reporter on July 19, 2010,
Marcum LLP, in New York, expressed substantial doubt Waste2Energy
Holdings' ability to continue as a going concern, following its
results for the fiscal year ended March 31, 2010.  The independent
auditors noted that the Company has incurred a significant loss
from continuing operations of $11.7 million and used cash of
$5.2 million for continuing operations which resulted in an
accumulated deficit of $30.4 million and a working capital
deficiency of $6.6 million as of March 31, 2010.

                             Default

As reported in the TCR on Feb. 2, 2011, the Company has not paid
approximately $276,000 of interest due on the of the Company's 12%
Senior Convertible Debentures (the "Debentures") due on Jan. 1,
2011, and as of Jan. 8, 2011, an additional Event of Default under
the Debentures has occurred on outstanding debentures having an
aggregate principal balance of $5,830,400 and an Event of Default
has occurred on outstanding Debentures having an aggregate
principal balance of $4,227,500.


WECK CORP: Court Confirms Liquidating Plan
------------------------------------------
On Aug. 24, 2011, the U.S. Bankruptcy Court for the Southern
District of New York confirmed the first amended joint plan of
liquidation proposed by The Wweck Corporation, et al., and the
official committee of unsecured creditors.

A copy of the confirmation order is available at:

    http://bankrupt.com/misc/weck.confirmationorder.aug24.pdf

As reported in the Troubled Company Reporter on April 18, the Plan
will facilitate the liquidation of the Debtors' estates and the
distribution of their remaining assets -- principally cash -- to
holders of allowed claims.  Under the Plan, among other things,
holders of unsecured claims are expected to recover between 3% and
7% of their allowed claim.  Each holder will receive its pro rata
distribution of the liquidated assets of the estates after the
payment of the administrative claims, priority claims, secured
claims and plan expenses.  Equity interest will be deemed
canceled.

The TCR reported on June 9 that the Debtors filed an amended Plan
and Disclosure Statement.  A full-text copy of the First Amended
Plan, dated May 23, 2011, is available for free at:

               http://ResearchArchives.com/t/s?7631

                      About The Weck Corporation

The Weck Corporation filed for Chapter 11 bankruptcy protection on
August 13, 2010 (Bankr. S.D.N.Y. Case No. 10-14349).  Mark T.
Power, Esq., at Hahn & Hessen LLP, assists the Debtor in its
restructuring effort.  The Debtor estimated its assets and debts
at $10 million to $50 million as of the Petition Date.

Affiliates Weck Chelsea, LLC (Bankr. S.D.N.Y. Case No. 10-14353),
Gracious Home.com, LLC (Bankr. S.D.N.Y. Case No. 10-14351), and
West Weck, LLC (Bankr. S.D.N.Y. Case No. 10-14350) filed separate
Chapter 11 petitions on Aug. 13, 2010.


WEST CORP: Files 7th Amendment to Form S-1 Registration Statement
-----------------------------------------------------------------
West Corporation filed with the U.S. Securities and Exchange
Commission Amendment No.7 to Form S-1 registration statement
relating to the public offering of an unspecified shares of common
stock of West Corporation.  No public market for the Company's
common stock has existed since its recapitalization in 2006.

The Company has applied to list its common stock on the Nasdaq
Global Select Market under the symbol "WSTC."

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

                        http://is.gd/pJeIkL

                      About West Corporation

Founded in 1986 and headquartered in Omaha, Nebraska, West
Corporation -- http://www.west.com/-- provides outsourced
communication solutions to many of the world's largest companies,
organizations and government agencies.  West Corporation has a
team of 41,000 employees based in North America, Europe and Asia.

The Company reported net income of $60.30 million on $2.39 billion
of revenue for the year ended Dec. 31, 2010, compared with net
income of $90.97 million on $2.38 billion of revenue during the
prior year.

The Company's balance sheet at June 30, 2011, showed $3.23 billion
in total assets, $4.18 billion in total liabilities, $1.59 billion
in Class L common stock, and a $2.54 billion total stockholders'
deficit.

                          *     *     *

West Corp. carries a 'B2' corporate rating from Moody's and 'B+'
corporate rating from Standard & Poor's.

Moody's Investors Service upgraded the ratings on West
Corporation's existing senior secured term loan to Ba3 from B1 and
the rating on $650 million of existing senior notes due 2014 to B3
from Caa1 upon the closing of its recent refinancing transactions.
Concurrently, Moody's affirmed all other credit ratings including
the B2 Corporate Family Rating and B2 Probability of Default
Rating.  The rating outlook is stable.

Standard & Poor's Ratings Services assigned Omaha, Neb.-based
business process outsourcer West Corp.'s proposed $650 million
senior unsecured notes due 2019 its 'B' issue-level rating (one
notch lower than the 'B+' corporate credit rating on the company).
The recovery rating on this debt is '5', indicating S&P's
expectation of modest (10% to 30%) recovery in the event of a
payment default.  The company will use proceeds from the proposed
transaction and some cash on the balance sheet to redeem its
$650 million 9.5% senior notes due 2014.


WHITE BIRCH: S&P Withdraws 'D' Corporate at Company's Request
-------------------------------------------------------------
Standard & Poor's Ratings Services withdrew its 'D' corporate
credit rating on U.S.-based White Birch Paper Co. at the company's
request.

White Birch filed for protection under Chapter 11 in the U.S.
Bankruptcy Court and under the Companies' Creditors Arrangement
Act in Canada on Feb. 24, 2010. White Birch continues to be in
negotiations related to the closing of the sale of its assets to
Black Diamond Capital Management, according to court filings
in the company's Chapter 11 proceedings. White Birch is the
second-largest newsprint producer in North America behind
AbitibiBowater Inc. (B+/Stable/--), which emerged from bankruptcy
protection in December 2010.


WOLF HOLLOW: S&P Withdraws 'CCC+' Rating on $260-Mil. Sr. Facility
------------------------------------------------------------------
Standard & Poor's Ratings Services withdrew its 'CCC+' rating on
Wolf Hollow I L.P.'s $260 million senior secured bank facility and
its 'CCC' rating on the company's $110 million second-lien term
loan. The rating action follows the completion of Exelon Corp.'s
purchase of the project and payment of all outstanding debt.

Ratings List

Ratings Withdrawn
                                To             From
Wolf Hollow I L.P.
First-lien senior secured       NR             CCC+/Watch Pos
  Recovery rating               NR             1
Second-lien senior secured      NR             CCC/Watch Pos
  Recovery rating               NR             1


WOLF MOUNTAIN: Disclosure Statement Hearing Set for Sept. 14
------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California,
Los Angeles Division, will convene a hearing to consider approval
of the disclosure statement explaining the Chapter 11 Plan of
Reorganization of Wolf Mountain Resorts, LC, on September 14,
2011, at 9:30 a.m.

The Plan provides that (1) on the Effective Date the Debtor will
make distributions to holders of certain claims, and (2) the
Reorganized Debtor will make certain payments going forward.

Holders of General Unsecured Claims will receive payments in Cash
or will retain all legal, equitable, and contractual rights to
which the Claims entitles the holder and may prosecute the Claim.

The Debtor, according to court papers, is confident of the
Reorganized Debtor's ability to make all required Plan payments
because (1) Canyon Mountain Partners, LLC, has committed to
funding the Reorganized Debtor with Cash and debtor-in-possession
financing (convertible to equity on the Effective Date) and (2)
ASC Utah, Inc., is required to make a rent payment of
approximately $3,000,000 by September 15, 2011, and annual rent
payments thereafter.

The Debtor says that if ASC refuses to make the rent payment due
on September 15, 2011, and the Court determines that ASC is not
required to make the rent payments pending resolution of the
appellate litigation, the Debtor will not have the ability to make
the required Effective Date Plan payments and the Plan cannot be
confirmed unless extensively modified.

With respect to post-Confirmation payments, assuming that ASC
timely makes all rent payments due and payable, the primary risk
is that the ASC Judgment is upheld on appeal and one or more
entities asserting Development Litigation Claims obtains a sizable
judgment that is upheld on appeal, and the amount of the judgment
exceeds the Reorganized Debtor's available Cash.  In that event,
the Plan provides the Reorganized Debtor 18 months to refinance or
sell its properties to satisfy the judgments.  Based on the
Debtor's estimate of the value of the Debtor's assets and
projection of Allowed Claims, the Debtor believes it is highly
unlikely that the Debtor will not be able to satisfy all Allowed
Claims in full.

A full-text copy of the Disclosure Statement is available for free
at http://ResearchArchives.com/t/s?76e2

                    About Wolf Mountain Resorts

Wolf Mountain Resorts, L.C., based in Los Angeles, California,
filed for Chapter 11 bankruptcy (Bankr. C.D. Calif. Case No.
11-30162) on May 9, 2011.  Judge Peter Carroll presides over the
case.  Mark S. Horoupian, Esq., at SulmeyerKupetz, serves as
bankruptcy counsel.  Wolf Mountain Resorts estimated that both its
assets and debts measure between $100 million and $500 million.


WYSONG & MILES: Bankr. Court Rules on Reedy Fork's Cleanup Claims
-----------------------------------------------------------------
Bankruptcy Judge William L. Stocks sustained Wysong & Miles
Company's objections to environmental cleanup and indemnification
claims of Reedy Fork Investments, LLC and Pennston Corporation and
disallowed those claims except for a $229,113.70 portion for
certain fees and costs.  Reedy Fork and Pennston filed claims on
account of contamination of 1, 1, 1-trichloroethane, a chlorinated
solvent, of their property as a result of the Debtor's operations.
The Claimants' property is located immediately to the east of the
Debtor's property.  A copy of Judge Stock's Sept. 6, 2011
Memorandum Opinion is available at http://is.gd/uX7Oddfrom
Leagle.com.

Wysong & Miles Company's operations have historically concentrated
on the manufacture of industrial metal forming machines.  It owns
an industrial facility several miles northeast of Greensboro,
North Carolina, along the U.S. Highway 29 corridor.  It previously
conducted its manufacturing operations at the facility, and
continues to occupy the facility even though manufacturing
operations are no longer conducted at the facility.

Wysong & Miles filed for Chapter 11 bankruptcy (Bankr. M.D.N.C.
Case No. 04-10005) on Jan. 4, 2004.  The filing was precipitated
by product liability litigation pursued by plaintiffs alleging
injury during the use of equipment manufactured by the Debtor.
The Debtor obtained confirmation of an Amended Plan of
Reorganization on March 23, 2005.


* Foley Adds 3 Bankruptcy Partners in San Diego
-----------------------------------------------
Lisa Uhlman at Bankruptcy Law360 reports that Foley & Lardner LLP
on Friday announced that three new partners had joined its San
Diego bankruptcy and business reorganizations practice from Duane
Morris LLP.

Law360 relates that Christopher Celentino, Mikel R. Bistrow and
Kathryn M.S. Catherwood, who were all members of Duane Morris'
business reorganization and financial restructuring group, joined
the firm's bankruptcy group, which the firm says is one of the
largest and most prestigious in the country.


* Large Companies With Insolvent Balance Sheets
-----------------------------------------------

                                             Total
                                            Share-     Total
                               Total      Holders'   Working
                              Assets   Liabilities   Capital
  Company         Ticker       ($MM)        ($MM)      ($MM)
  -------         ------      ------   -----------   -------
ANOORAQ RESOURCE  ARQ SJ     1,016.8       (119.1)      20.8
AUTOZONE INC      AZO US     5,884.9     (1,119.5)    (655.3)
LORILLARD INC     LO US      2,498.0       (831.0)     904.0
MEAD JOHNSON      MJN US     2,526.1       (184.5)     652.4
CLOROX CO         CLX US     4,163.0        (86.0)     (86.0)
DUN & BRADSTREET  DNB US     1,767.1       (567.8)    (483.7)
WEIGHT WATCHERS   WTW US     1,104.5       (542.4)    (274.4)
TAUBMAN CENTERS   TCO US     2,495.4       (426.8)       -
DIRECTV-A         DTV US    19,177.0     (1,399.0)   1,270.0
SUN COMMUNITIES   SUI US     1,322.8        (65.4)       -
VERISK ANALYTI-A  VRSK US    1,408.1       (144.4)    (216.1)
AMC NETWORKS-A    AMCX US    2,110.5     (1,099.4)     514.7
MOODY'S CORP      MCO US     2,744.6        (16.6)     691.1
VERISIGN INC      VRSN US    1,795.6         (4.2)     873.4
CHOICE HOTELS     CHH US       441.3        (27.9)       6.5
DOMINO'S PIZZA    DPZ US       487.0     (1,171.4)     167.9
GRAHAM PACKAGING  GRM US     2,947.5       (520.8)     298.5
DISH NETWORK-A    DISH US   12,827.7        (92.6)   2,164.2
IPCS INC          IPCS US      559.2        (33.0)      72.1
FRANCESCAS HOLDI  FRAN US       69.7         (0.1)      22.8
THERAVANCE        THRX US      303.1        (37.5)     253.4
VECTOR GROUP LTD  VGR US       941.2        (50.1)     257.6
HCA HOLDINGS INC  HCA US    23,877.0     (7,534.0)   2,613.0
DISH NETWORK-A    EOT GR    12,827.7        (92.6)   2,164.2
MAINSTREET EQUIT  MEQ CN       475.2        (10.5)       -
RURAL/METRO CORP  RURL US      303.7        (92.1)      72.4
SALLY BEAUTY HOL  SBH US     1,725.5       (260.7)     429.3
OTELCO INC-IDS    OTT-U CN     317.0         (8.6)      21.8
OTELCO INC-IDS    OTT US       317.0         (8.6)      21.8
AMERISTAR CASINO  ASCA US    2,067.1       (121.9)     (40.8)
CABLEVISION SY-A  CVC US     6,975.1     (5,439.8)    (703.4)
UNISYS CORP       UIS US     2,642.9       (661.8)     374.7
PROTECTION ONE    PONE US      562.9        (61.8)      (7.6)
CHENIERE ENERGY   CQP US     1,726.6       (559.0)      22.7
RENAISSANCE LEA   RLRN US       57.0        (28.2)     (31.4)
SKULLCANDY INC    SKUL US      108.5        (12.5)      33.2
INCYTE CORP       INCY US      416.7       (136.3)     281.3
CHEFS WAREHOUSE   CHEF US       95.8        (45.1)       6.9
BOSTON PIZZA R-U  BPF-U CN     146.1       (101.0)       1.3
NATIONAL CINEMED  NCMI US      817.6       (329.8)      62.2
CARBONITE INC     CARB US       42.6        (11.4)     (18.2)
JUST ENERGY GROU  JE CN      1,471.5       (208.2)    (299.7)
REGAL ENTERTAI-A  RGC US     2,367.9       (538.3)     (72.9)
REVLON INC-A      REV US     1,100.0       (677.5)     144.6
WORLD COLOR PRES  WC CN      2,641.5     (1,735.9)     479.2
FREESCALE SEMICO  FSL US     4,583.0     (4,401.0)   1,329.0
WORLD COLOR PRES  WCPSF US   2,641.5     (1,735.9)     479.2
WORLD COLOR PRES  WC/U CN    2,641.5     (1,735.9)     479.2
QUALITY DISTRIBU  QLTY US      279.4       (113.4)      47.2
ECOSYNTHETIX INC  ECO CN        45.2       (346.7)      32.2
CENTENNIAL COMM   CYCL US    1,480.9       (925.9)     (52.1)
WARNER MUSIC GRO  WMG US     3,583.0       (289.0)    (630.0)
AMER AXLE & MFG   AXL US     2,195.4       (357.9)      50.1
TOWN SPORTS INTE  CLUB US      450.6         (4.3)     (35.4)
SINCLAIR BROAD-A  SBGI US    1,497.3       (135.3)      69.0
BLUEKNIGHT ENERG  BKEP US      327.4        (45.5)     (90.0)
RSC HOLDINGS INC  RRR US     2,949.6        (59.2)    (205.0)
ALASKA COMM SYS   ALSK US      615.6        (37.7)      20.4
PRIMEDIA INC      PRM US       208.0        (91.7)       3.6
CHENIERE ENERGY   LNG US     2,619.8       (430.3)    (103.2)
EXELIXIS INC      EXEL US      454.2        (81.8)      90.2
QWEST COMMUNICAT  Q US      16,849.0     (1,560.0)  (2,828.0)
MERITOR INC       MTOR US    2,838.0       (963.0)     226.0
NPS PHARM INC     NPSP US      253.3        (27.3)     201.5
PLAYBOY ENTERP-B  PLA US       165.8        (54.4)     (16.9)
NEXSTAR BROADC-A  NXST US      558.0       (183.4)      35.4
PLAYBOY ENTERP-A  PLA/A US     165.8        (54.4)     (16.9)
CC MEDIA-A        CCMO US   16,882.1     (7,270.0)   1,501.0
MORGANS HOTEL GR  MHGC US      604.4        (51.3)     112.0
PDL BIOPHARMA IN  PDLI US      284.3       (293.5)      (4.6)
PALM INC          PALM US    1,007.2         (6.2)     141.7
ACCO BRANDS CORP  ABD US     1,135.8        (28.3)     339.3
SINCLAIR BROAD-A  SBTA GR    1,497.3       (135.3)      69.0
VIRGIN MOBILE-A   VM US        307.4       (244.2)    (138.3)
LIZ CLAIBORNE     LIZ US     1,247.3       (211.1)     (52.7)
GLG PARTNERS INC  GLG US       400.0       (285.6)     156.9
GLG PARTNERS-UTS  GLG/U US     400.0       (285.6)     156.9
HUGHES TELEMATIC  HUTC US      100.6        (94.9)     (28.3)
SMART TECHNOL-A   SMT US       574.8        (17.3)     194.3
SMART TECHNOL-A   SMA CN       574.8        (17.3)     194.3
RAPTOR PHARMACEU  RPTP US       20.5        (14.6)     (21.4)
ABSOLUTE SOFTWRE  ABT CN       116.7        (13.2)      (2.9)
GENCORP INC       GY US        987.3       (161.1)      94.3
CENVEO INC        CVO US     1,410.8       (330.1)     223.4
ISTA PHARMACEUTI  ISTA US      135.7        (66.5)      10.4
HOVNANIAN ENT-B   HOVVB US   1,697.8       (399.4)   1,028.2
CANADIAN SATEL-A  XSR CN       174.4        (29.8)     (55.9)
DENNY'S CORP      DENN US      286.7        (99.5)     (39.9)
AMR CORP          AMR US    25,787.0     (4,509.0)  (1,769.0)
MANNKIND CORP     MNKD US      228.4       (245.4)       5.3
EASTMAN KODAK     EK US      5,334.0     (1,419.0)     842.0
CINCINNATI BELL   CBB US     2,658.5       (633.6)      30.5
VONAGE HOLDINGS   VG US        235.9        (75.0)     (65.6)



                           *********

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 ***