TCR_Public/110919.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

           Monday, September 19, 2011, Vol. 15, No. 260

                            Headlines

AE BIOFUELS: AE Keyes Inks Waiver to Note Pact with Third Eye
AIRPLAY DIRECT: Petitioning Creditors Seek Trustee or Examiner
ALEXANDER GALLO: To Reject 11 Unexpired Real Property Leases
ALEXANDER GALLO: Seeks More Time to File Schedules and Statement
ALEXANDER GALLO: To Assume "Preferred Provider Network" Contracts

ALLEN FAMILY: Committee Seeks to Retain AEI as Appraisers
AMERICAN DEFENSE: Reports $1.8 Million Second Quarter Net Loss
AMT LLC: Files Omega-Funded Reorganization Plan
APOLLO MEDICAL: Incurs $122,800 Net Loss in July 31 Quarter
ARK DEVELOPMENT: Gets Final OK to Access Midland's Cash Collateral

ARK DEVELOPMENT: Withdraws Motion for Withdrawal as Counsel
AUSTRALIA PROPERTY: Case Summary & 5 Largest Unsecured Creditors
AVION POINT: Prepares to Sell, Opposes Rubright Lift Stay Plea
AVSTAR AVIATION: Posts $20,200 Net Loss in Second Quarter
BANK UNITED: U.S. Bank Reserves Right to Object to Panel's Plan

BIG VIEW: Voluntary Chapter 11 Case Summary
BIOZONE PHARMACEUTICALS: Posts $568,000 Net Loss in Second Quarter
BISCAYNE PARK: Cardenas Seeks Dismissal of Chapter 11 Case
BLUEKNIGHT ENERGY: Unitholders OK Amendment to Partnership Pact
BLUEKNIGHT ENERGY: Plans to Launch Rights Offering

BRAINY BRANDS: Incurs $16.5 Million Second Quarter Net Loss
B.R. SUMMERLIN: Gibbs Giden to be Paid From Operating Revenues
BROTHER SONNY: Seeks to Hire Merrill and Green as Special Counsel
BROTHER SONNY: Seeks to Hire Needham Realty as Real Estate Broker
BUFFALO GULF: Moody's Assigns 'Ba1' Rating to Sr. Sec. Term Loan

BURGER KING: Bank Debt Trades at 4% Off in Secondary Market
BURLINGTON COAT: Bank Debt Trades at 4% Off in Secondary Market
CALYPTE BIOMEDICAL: Reports $101,000 Net Income in March 31 Qtr.
CAPITOL BANCORP: Names Nicholas Hahn as Interim CFO
CHINA CGAME: Posts $3.4 Million Net Loss in Second Quarter

CHINA VILLAGE: Cathay Asks Court to Prohibit Use of Collateral
CHINA VILLAGE: Sues Cathay, DOES to Invalidate Liens
CHINA VILLAGE: Cathay Bank Objects to Adequacy of Disclosures
CKX INC: Moody's Withdraws 'B2' CFR as Loan Cancelled
CLAIRE'S STORES: Bank Debt Trades at 14% Off in Secondary Market

CLIVER DEVELOPMENT: Case Summary & 7 Largest Unsecured Creditors
CN DRAGON: Posts $20,000 Net Loss in June 30 Quarter
CONSOLIDATION SERVICES: Posts $721,000 Net Loss in Second Quarter
CRESTVIEW OPEN: Case Summary & 15 Largest Unsecured Creditors
H & A: Case Summary & Largest Unsecured Creditor

CUMULUS MEDIA: FDIC Approves Pending Merger with Citadel
CYBERDEFENDER CORP: Posts $6.6 Million Net Loss in Second Quarter
DAIS ANALYTIC: Has New Three-Year Contract with CEO
DBSD NORTH AMERICA: Sprint Seeks $110 Million Reimbursement
DENNY'S CORP: Board Appoints George Haywood as Director

DENNY'S CORP: S&P Affirms B+ Corp. Credit Rating; Outlook Stable
DLH MASTER: Committee Announces Departure of Barrier Officer
DOT VN: Delays Filing of July 31 Form 10-Q
EAST HARLEM: Case Summary & 5 Largest Unsecured Creditors
EL PASO PIPELINE: S&P Gives 'BB' to $500-Mil. Sr. Unsec. Notes

ENDURANCE INT'L: Moody's Assigns 'B2' CFR; Outlook Stable
EPICEPT CORP: Moves Listing from Nasdaq to OTCQX
EVERGREEN ENERGY: Completes Penrhyn Coal Testing Using K-Fuel
EVERGREEN SOLAR: Sues Unsecured Bondholders to Reclaim $4MM
FOSTER CONDOMINIUM: Voluntary Chapter 11 Case Summary

FULL CIRCLE: Can Access $1.25 Million DIP Facility to Buy Cows
FULL CIRCLE: Motion to Buy $900,000 in Livestock Denied
GAMETECH INT'L: Delays Filing of Quarterly Report on Form 10-Q
GAS CITY: Hearing on Case Dismissal Plea, et al., Set for Sept. 21
GAS CITY: Trustee OK'd to Execute Deeds in Lieu of Foreclosure

GATEWAY METRO: Seeks to Use Cash Collateral, Obtain DIP Loan
GATEWAY METRO: Wants Bar Date, Sees Plan "Within First Few Weeks"
GELT PROPERTIES: Proposes Cohen for Suits vs. Steven & Tracy
GIBSON GUITAR: Moody's Says Govt. Raid No Impact on B3 Corporate
GLOBAL INDUSTRIES: Asks Supreme Court to Weigh Ch. 11 Challenge

GOLD HILL: Has Go Signal to Solicit Acceptances for Plan
GREENBRIER HOSPITALITY: Case Summary & 20 Largest Unsec. Creditors
GSI HOLDING: Moody's Hikes Corporate to 'B2'; Outlook Stable
HARBOUR EAST: Escrow Agent Directed to Turnover Defaulted Deposits
HARBOUR EAST: Amended Plan Outline Hearing Set for Sept. 26

HARBOUR EAST: Has Temporary Access to Rental Income Until Oct. 31
HAWAII MEDICAL: Committee Seeks Approval to Retain A&M HealthCare
HERCULES OFFSHORE: Bank Debt Trades at 4% Off in Secondary Market
HES CONSTRUCTION: Case Summary & 7 Largest Unsecured Creditors
HILEX POLY: Moody's Affirms B3 CFR; Outlook Revised to Negative

HORIZON LINES: S&P Raises Corp. Credit Rating to 'CC' From 'SD'
INNKEEPERS USA: In Deal Talks With Five Mile & Lehman Unit
IGLESIA MISIONERA: Voluntary Chapter 11 Case Summary
INOVA TECHNOLOGY: Delays Filing of Quarterly Report on Form 10-Q
INTELLICELL BIOSCIENCES: Posts $12 Million 2nd Quarter Net Loss

INTERSIL CORPORATION: Moody's Affirms Ba2 CFR; Outlook Stable
IPREO HOLDINGS: S&P Assigns 'B' Corporate Credit Rating
IT'S GREEK TO ME: Case Summary & 20 Largest Unsecured Creditors
IVAX DIAGNOSTICS: Posts $767,400 Net Loss in Second Quarter
JAM-TY INC: Case Summary & 10 Largest Unsecured Creditors

JBI INC: Posts $6.5 Million Net Loss in Second Quarter
JOHN IRWIN: Family Members May Be Sued by Joseph Forte Receiver
JJMM INTERNATIONAL: Voluntary Chapter 11 Case Summary
K-V PHARMACEUTICAL: Seven Directors Elected at Annual Meeting
KITTS DEVELOPMENT: Case Summary & 20 Largest Unsecured Creditors

KTLA LLC: Court Denies Secured Creditors' Case Dismissal Motion
LAGOON ROAD: Case Summary & 13 Largest Unsecured Creditors
LAS VEGAS HILTON: Lenders Seek Receivership for Firm
LEO MOTORS: Posts $227,300 Net Loss in Second Quarter
LINDEN PONDS: Files Schedules of Assets and Liabilities

LOAN EXCHANGE: Case Summary & 14 Largest Unsecured Creditors
LOCAL INSIGHT: Seeks Nod of Transition Agreement Term Sheet
LOS GATOS: Hearing on Exclusivity Extensions Slated for Oct. 21
MADISON 92ND: Judge Taps Examiner to Launch Investigation in Case
MADISON HOTEL: Plan Disclosures Hearing for Sept. 26

MANISTIQUE PAPERS: To Employ Vector Consulting as Fin'l Advisor
MARISCOS ENSENADA: Case Summary & 8 Largest Unsecured Creditors
MARIZONA INC: Case Summary & Largest Unsecured Creditor
MEDICURE INC: Files Copy of Birmingham Debt Settlement Agreement
MERRITT AND WALDING: Has Interim OK to Use Bryant Cash Collateral

MERRITT AND WALDING: Cash Collateral Deal with Merchants Bank OK'd
MGDC DEVELOPMENT: Case Summary & Largest Unsecured Creditor
MOUNTAIN NATIONAL: Posts $21.8 Million Net Loss in Second Quarter
N.A. PETROLEUM: Judge Approves $98 Million Ch. 11 Settlement
NAVIGATOR HOLDINGS: Completes $40MM Sale of Loan Portfolio

NEBRASKA BOOK: Wants to Hire Deloitte Tax as Tax Services Provider
NET TALK.COM: Leo Manzewitsch Resigns as CTO and Director
NEXAIRA WIRELESS: Delays Filing of Quarterly Report on Form 10-Q
NORTEL NETWORKS: Withdraws Alissa T. Gazze as Bankruptcy Counsel
NORTHERN BERKSHIRE: Has Interim Access to WF Cash Collateral

NORTHERN BERKSHIRE: Hearing on Disclosure Statement on Oct. 6
NUVILEX INC: Delays Filing of Quarterly Report on Form 10-Q
NXT NUTRITIONALS: Reports $1 Million Second Quarter Net Income
OMNICARE INC: S&P Keeps 'BB' Rating on 7.75% Subordinated Notes
OPTIONS MEDIA: Posts $11.8 Million Net Loss in Second Quarter

OVERLAND STORAGE: Incurs $14.5 Million Net Loss in Fiscal 2011
PARADISE INVESTMENT: Case Summary & 16 Largest Unsecured Creditors
PERFECTENERGY INT'L: Has $701,300 Loss in 2 Months Ended June 30
PONCE DE LEON: Case Summary & 15 Largest Unsecured Creditors
QUANTUM FUEL: Incurs $7.8 Million Net Loss in Q1 Fiscal 2012

RAHWAY HOSPITAL: Moody's Affirms Ba3 Rating on Outstanding Bonds
RASER TECHNOLOGIES: Emerges from Bankruptcy
R.E. LOANS: Case Summary & 20 Largest Unsecured Creditors
REALOGY CORP: 2013 Debt Trades at 9% Off in Secondary Market
REALOGY CORP: 2016 Debt Trades at 18% Off in Secondary Market

RENAISSANCE SURGICAL: Cash Use Hearing Continued Until Sept. 22
RENAISSANCE SURGICAL: Court OKs Seelig as Patient Care Ombudsman
RIO RANCHO: Names Thomas Kent as New Attorney
ROSSCO HOLDINGS: Plan Outline Hearing Continued Until Jan. 19
RQB RESORT: Goldman Sachs Supports Plan Exclusivity Termination

SEARCHMEDIA HOLDINGS: Five Directors Elected at Annual Meeting
SHADY ACRES: Modified Plan of Reorganization Confirmed
SHEA HOMES: S&P Affirms 'B' Corp. Credit Rating; Outlook Stable
SHENGDATECH INC: CRO and Members OK'd to Act on Debtor's Behalf
SHENGDATECH INC: Taps Skadden Arps & Three Other Firms

SK FOODS: Dist. Ct. to Consider Whether to Hear Trustee's Suit
SOLYNDRA LLC: U.S. Treasury Probes $535-Mil. Loan
SOLYNDRA LLC: Can Pay Prepetition Claims of Service Providers
SOTERA DEFENSE: Moody's Assigns B3 Rating to $35-Mil. Term Loan
SOUTHERN STAR: Moody's Raises Senior Unsecured Rating to 'Ba1'

SPARTA COMMERCIAL: Delays Filing of Quarterly Report on Form 10-Q
SPOT MOBILE: Delays Filing of Quarterly Report on Form 10-Q
SSI GROUP: To Sell Restaurant Chain in Bankruptcy
SSI GROUP: Case Summary & 20 Largest Unsecured Creditors
SUSPECT DETECTION: Posts $1.5 Million Net Loss in Second Quarter

TERRESTAR CORPORATION: Objects to Appointment of Examiner
TEXAS INDUSTRIES: Plant Gets "Imminent Danger" Order
TEXTRON INC: Moody's Keeps 'Ba1' Junior Subordinate Ratings
TOPSPIN MEDICAL: Posts NIS687,000 Net Loss in Second Quarter
TOWNSEND CORP: Mulls Options, Including Sale; Seeks Cash Use

TOWNSENDS INC: Court to Rule on Conversion Plea
TRAVELPORT INC: Bank Debt Trades at 10% Off in Secondary Market
TRAVELPORT LLC: S&P Lowers Corporate Credit Rating to 'CCC'
TRENTON LAND: Wants Bankruptcy Court to Dismiss Chapter 11 Case
TRIBUNE CO: Bank Debt Trades at 42% Off in Secondary Market

TROY BUILDERS: Case Summary & 2 Largest Unsecured Creditors
TRUMAN LANDSCAPER: Involuntary Chapter 11 Case Summary
TURBULENCE, LLC: Case Summary & Largest Unsecured Creditor
TXU CORP: Bank Debt Trades at 28% Off in Secondary Market
UNI-PIXEL INC: To Offer 1.3MM Common Shares Under Incentive Plan

U.S. EAGLE: Proposes Grubb & Ellis as Real Estate Broker
VISUALANT INC: Extends Closing Date of Eagle LOI to Dec. 31
WASHINGTON MUTUAL: Interest Rate Ruling May Impact Other Cases
WATER STREET: To Sell Mansfield Property to Pay Creditors in Full
WEST END: Hearing on Adequacy of Plan Outline Scheduled for Nov. 1

WEST END: Court OKs Mark Radke as Independent Monitor
WESTERN COMMUNICATIONS: U.S. Trustee Unable to Form Committee
WIKILOAN INC: Delays Filing of Quarterly Report on Form 10-Q
WOODLAND ESTATES: Case Summary & 3 Largest Unsecured Creditors
YRC WORLDWIDE: Stockholders OK Agreement and Plan of Merger

YRC WORLDWIDE: Receives Add'l Non-Compliance Notice from NASDAQ
ZOO ENTERTAINMENT: Posts $10.1 Million Net Loss in Second Quarter
ZOGENIX INC: Amends 30 Million Common Shares Offering

* BOND PRICING -- For Week From Sept. 12 - 16, 2011

                            *********

AE BIOFUELS: AE Keyes Inks Waiver to Note Pact with Third Eye
-------------------------------------------------------------
AE Advanced Fuels Keyes, Inc., a subsidiary of AE Biofuels, Inc.
entered into a Limited Waiver and Amendment No. 3 to the Note
Purchase Agreement with Third Eye Capital Corporation, as agent.
Pursuant to the Third Amendment, AE Keyes agreed to pay Third Eye
a Minimum Monthly Base Principal Payment equal to the greater of
(i) $200,000 payable in four weekly installments of $50,000 with
the first installment due on Sept. 2, 2011, (ii) a monthly payment
of $0.05 per gallon of ethanol produced from its Keyes Plant; and
(iii) 50% of its monthly Free Cash Flow.

In return for a fee of $50,000 paid in cash, Third Eye waived AE
Keyes' required scheduled payments of principal due and owning on
July 1, 2011, and Sept. 1, 2011, and required Minimum Quarterly
Free Cash Flow Covenants for the quarter ended June 30, 2011.  In
return for the issuance of 123,457 shares of common stock of AE
Biofuels, Inc., Third Eye waived AE Keyes' requirement to receive
certain proceeds from the California Energy Commission.  As of the
effective date of the Third Amendment, the principal balance and
all accrued and unpaid interest and fees outstanding on the Note
was $7,081,528.

                         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.


AIRPLAY DIRECT: Petitioning Creditors Seek Trustee or Examiner
--------------------------------------------------------------
Creditors who signed an involuntary Chapter 11 petition for
AirPlay Direct LLC, namely Clif Doyal, Scott Welch, Raleigh
Squires, and Sussman & Associates, P.C., are asking the Bankruptcy
Court to appoint a chapter 11 trustee; or in the alternative, an
examiner for AirPlay Direct.

The Petitioning Creditors said they have no confidence in
AirPlay's ability to manage its affairs.  They seek (a) the
appointment of a Chapter 11 trustee to take control of AirPlay's
operations for the benefit of the estate and enjoin current
management from interfering with such operations, or in the
alternative, or (b) the appointment of an examiner to review,
among other things, (i) AirPlay's historical and current financial
performance, (ii) the management of AirPlay leading up to and in
response to the Involuntary Petition filed in the Chapter 11 case,
and (iii) whether further action is warranted based on the results
of such investigation.

The Petitioning Creditors are also asking the Court to act on
their request immediately.  "Waiting for resolution of the
involuntary petition or normal notice and timing requirements
would delay the installation of a manager with the estate's best
interest and will threaten the viability of AirPlay as a going
concern," the Petitioning Creditors said in court filings.

The Petitioning Creditors revealed that AirPlay's principal,
Robert Weingartz has made multiple threatening remarks to some of
the Petitioning Creditors regarding the company and has
specifically made reference to sabotaging AirPlay if steps were
taken to remove him from power.

The Petitioning Creditors said Mr. Weingartz has shown an
inability to manage AirPlay in any way except that benefits
himself.  For instance, Mr. Weingartz puts his personal well-being
above that of the Alleged Debtor despite his fiduciary duties: on
May 30, 2011, Mr. Weingartz requested that Clif Doyal, Executive
VP of AirPlay at the time, empty AirPlay's bank accounts because
of Mr. Weingartz's personal needs despite looming threats of
AirPlay's Web site, its life blood, of being disconnected for
failure to pay hosting fees.  This request was reiterated even
after Mr. Doyal's clear indication of the business needs for the
cash.  In addition, AirPlay's workforce has shrunk to almost
nothing in the past 12 months, as six management-level employees
or advisory board members have left the company.  These departures
are due in no small part to Mr. Weingartz's failures as manager.

The Petitioning Creditors said AirPlay is behind on general
unsecured and trade vendor claims to parties such as the Web
hosting provider, the Web site development service provider, the
web marketing provider, attorneys, and the Web site platform
developers, with many obligations being overdue since at least
Nov. 30, 2010.  AirPlay also is allegedly not current with its
strategic partners with which it has revenue sharing arrangements.

The filings, according to the Petitioning Creditors, also indicate
that AirPlay's most recent available financial statements
demonstrate negative net income for the months January and
February 2011, a negative interest-holder equity as of such
months, and an asset value of roughly $181,000 (without deduction
for accumulated depreciation) compared to a current liability
amount of roughly $217,000.  The financial statements for the year
ending Dec. 31, 2010, also show a negative operating income of
roughly $23,000 and similar asset and current liability amounts.

In the past 12 months, AirPlay has lost at least six key employees
or members of the board of managers as a direct result of not
being paid or their respective inability to succeed in their roles
because of Mr. Weingartz's management.

                           About AirPlay

Based in Old Hickory, Tenn., AirPlay Direct, LLC, owns and
operates a subscription music promotion service, run primarily
through a Web site.  Artists, radio programmers, and record labels
are all subscribers to the service, which works to connect
creative artists with potential outlets for distribution of their
music.  AirPlay's primary value is the subscriber list and the
software platform utilized in connecting subscribers.  AirPlay has
30,000 subscribers to the Web site, who pay a monthly fee to use
the services.  Its web platform is currently at or near its
capacity in light of the number of subscribers.

Clif Doyal, Scott Welch, Raleigh Squires, and Sussman &
Associates, P.C., owed $218,476 in the aggregate, filed an
involuntary Chapter 11 petition against AirPlay (Bankr. M.D. Tenn.
Case No. 11-08916) on Sept. 6, 2011.

Mr. Welch served as president and member of advisory board.
Mr. Doyal served as executive vice president and editor of
AirPlay's promotional magazine, Direct Buzz.  Mr. Squires acted as
operations manager.  They resigned prepetition.  Sussman &
Associates provided accounting services.

Judge George C. Paine II presides over the case.  Robert J.
Welhoelter, Esq. -- rjwelho@gmail.com -- in Nashville, represents
the Petitioning Creditors.


ALEXANDER GALLO: To Reject 11 Unexpired Real Property Leases
------------------------------------------------------------
Alexander Gallo Holdings LLC and certain of its subsidiaries and
affiliates filed a first omnibus motion to reject 11 unexpired
nonresidential real property leases, effective as of the Petition
Date.

The Debtors no longer occupy the leased premises with respect to
the Leases, and said continued compliance with the terms of the
Leases and any accompanying agreements would be burdensome and
would provide no corresponding benefit to the Debtors or the
stakeholders in these chapter 11 cases.  Rejection of the Leases
and Termination Agreements will maximize the value of the Debtors'
estates and eliminate operating losses associated therewith.

As of the Petition Date, the Debtors may continue to be obligated
to pay rent or other amounts under the Leases and Termination
Agreements even though they have ceased operations at the leased
premises.  By rejecting the Leases and Termination Agreements, the
Debtors believe they will achieve significant cost savings for the
estates.  Therefore, immediate rejection of the Leases and
Termination Agreements will prevent the estates from potentially
incurring unnecessary administrative expenses.

The affected landlords include:

          -- 110 Gulf Associates;
          -- 520 Capitol Mall, Inc.;
          -- Atlanta Sand & Supply Company;
          -- HF Lakeside II, LLC;
          -- Hines Riverfront Plaza, L.P.;
          -- Live Nation Worldwide, Inc.;
          -- M. Rapaport Co., Inc.;
          -- Oasis 100 Franklin Street LLC;
          -- Phoenix Plaza Pt., LLC;
          -- PRMD, LLC; and
          -- Vreeland Spvef Venture, LLC

                  About Alexander Gallo Holdings

Marietta, Georgia-based Alexander Gallo Holdings LLC --
http://www.alexandergalloholdings.com-- is the largest full
service, IT-enabled court reporting and litigation support
services company in the United States.  AGH offers court
reporting, litigation support, trial software and other similar
services and has the only true national footprint in its market,
with roughly 55 offices located throughout the United States, and
a preferred provider network which serves as an extension of
Alexander Gallo's geographic reach.  Founded in 1999 by Alexander
J. Gallo, a former court reporter, AGH has made 18 acquisitions
since 2003.  Mr. Gallo has remained as CEO.

AGH, along with affiliates, filed for Chapter 11 protection
(Bankr. S.D.N.Y. Lead Case No. 11-14220) on Sept. 7, 2011.
Alexander Gallo will sell the business via 11 U.S.C. Sec. 363 to
Bayside Capital Inc., which had acquired $22 million in second-
lien debt.  The price wasn't disclosed.

Alexander Gallo disclosed assets of $208 million and debt totaling
$258 million as of June 30, 2011.  Liabilities include $47 million
on a first-lien revolving credit and term loan where Wells Fargo
Bank NA is agent.  In addition to the second-lien debt held by
Bayside, there is $33 million in junior unsecured subordinated
notes owing to Harvest Equity Partners LLC plus another $148
million in junior unsecured subordinated notes owing to insider
Gallo Holdings LLC.

Bayside will also provide $20 million in financing for the
Chapter 11 effort.  The new loan will have a first priority lien
on unencumbered assets and a lien behind the first-lien debt.

Bankruptcy Judge Allan J. Gropper presides over the case.  Thomas
R. Califano, Esq., at Jeremy R. Johnson, Esq., at Daniel G. Egan,
Esq., at DLA Piper LLP (US), serve as the Debtors' general
counsel.  Squire, Sanders & Demsey (US) LLP serves as the Debtor's
corporate counsel.  The Debtors' financial advisor is Gordian
Group, LLC.  Marc L. Pfefferle, a partner at Carl Marks Advisory
Group LLC, serves as the Debtors' chief restructuring advisor.
Kurtzman Carson Consultants LLC serves as the Debtor's claims
agent.


ALEXANDER GALLO: Seeks More Time to File Schedules and Statement
----------------------------------------------------------------
Alexander Gallo Holdings LLC and certain of its subsidiaries and
affiliates seek an extension of the time to file their schedules
of assets and liabilities, schedules of executory contracts and
unexpired leases, and statements of financial affairs.

The Debtors want the filing deadline extended to and including the
date that is the 45th day after the Petition Date, without
prejudice to the Debtors' right to request additional time should
it become necessary.

Pursuant to Sec. 521 of the Bankruptcy Code and F.R.B.P. Rule
1007, the Debtors are required to file their Schedules and
Statements within 14 days after the Petition Date.  Bankruptcy
Rule 1007 provides that an extension of time for cause shown.

However, in light of the competing demands upon the Debtors'
employees and professionals to assist in efforts to stabilize
business operations during the initial postpetition period, the
Debtors will not be able to properly and accurately complete
the Schedules and Statements within the required 14 day time
period.

                  About Alexander Gallo Holdings

Marietta, Georgia-based Alexander Gallo Holdings LLC --
http://www.alexandergalloholdings.com-- is the largest full
service, IT-enabled court reporting and litigation support
services company in the United States.  AGH offers court
reporting, litigation support, trial software and other similar
services and has the only true national footprint in its market,
with roughly 55 offices located throughout the United States, and
a preferred provider network which serves as an extension of
Alexander Gallo's geographic reach.  Founded in 1999 by Alexander
J. Gallo, a former court reporter, AGH has made 18 acquisitions
since 2003.  Mr. Gallo has remained as CEO.

AGH, along with affiliates, filed for Chapter 11 protection
(Bankr. S.D.N.Y. Lead Case No. 11-14220) on Sept. 7, 2011.
Alexander Gallo will sell the business via 11 U.S.C. Sec. 363 to
Bayside Capital Inc., which had acquired $22 million in second-
lien debt.  The price wasn't disclosed.

Alexander Gallo disclosed assets of $208 million and debt totaling
$258 million as of June 30, 2011.  Liabilities include $47 million
on a first-lien revolving credit and term loan where Wells Fargo
Bank NA is agent.  In addition to the second-lien debt held by
Bayside, there is $33 million in junior unsecured subordinated
notes owing to Harvest Equity Partners LLC plus another $148
million in junior unsecured subordinated notes owing to insider
Gallo Holdings LLC.

Bayside will also provide $20 million in financing for the
Chapter 11 effort.  The new loan will have a first priority lien
on unencumbered assets and a lien behind the first-lien debt.

Bankruptcy Judge Allan J. Gropper presides over the case.  Thomas
R. Califano, Esq., at Jeremy R. Johnson, Esq., at Daniel G. Egan,
Esq., at DLA Piper LLP (US), serve as the Debtors' general
counsel.  Squire, Sanders & Demsey (US) LLP serves as the Debtor's
corporate counsel.  The Debtors' financial advisor is Gordian
Group, LLC.  Marc L. Pfefferle, a partner at Carl Marks Advisory
Group LLC, serves as the Debtors' chief restructuring advisor.
Kurtzman Carson Consultants LLC serves as the Debtor's claims
agent.


ALEXANDER GALLO: To Assume "Preferred Provider Network" Contracts
-----------------------------------------------------------------
Alexander Gallo Holdings LLC and certain of its subsidiaries and
affiliates seek the Bankruptcy Court's permission to assume
certain executory contracts with providers of key services for the
Debtors, entered into by and between one or more of the Debtors
and the various service providers.

Prior to the Petition Date, the Debtors entered into contracts
with various members of the Debtors' "Preferred Provider Network,"
which consists of companies that provide essential court
reporting, litigation support, and other similar services to the
Debtors and who cannot be replaced.  The Debtors entered into
contracts with roughly 113 PPN Members setting forth the terms and
conditions of the parties' working relationship, including payment
terms.  As of the Petition Date, an aggregate amount of roughly
$1,162,439 is due and owing to the PPN Members pursuant to the PPN
Agreements.

The Debtors said the PPN Members, together with the Debtors'
employees and independent contractors, are the lifeblood of the
Debtors' business, without whom the Debtors would not be able to
operate.  Services provided by the PPN Members include, among
other things, court reporting services, videography services,
interpreting services, scoping and proofreading services.

The PPN Members generally provide services in territories where
the Debtors do not have locations, employees or independent
contractors, and collectively give the Debtors the ability to
provide national coverage in the most cost efficient manner.  This
national coverage is essential to the Debtors' ability to acquire
and to service clients who are an essential part of the Debtors'
business.  Therefore, these services are absolutely essential to
the Debtors' ability to reorganize. Simply put, without the PPN
Members, the Debtors' business would not be able to survive.

The Debtors said any disruption to their relationship with these
members would be disastrous to the Debtors' business and would
cause irreparable harm to the Debtors' reputation due to the
resulting inability to meet customer needs. In addition, loss of
PPN Members would significantly jeopardize the Debtors' ability to
reorganize.

                  About Alexander Gallo Holdings

Marietta, Georgia-based Alexander Gallo Holdings LLC --
http://www.alexandergalloholdings.com-- is the largest full
service, IT-enabled court reporting and litigation support
services company in the United States.  AGH offers court
reporting, litigation support, trial software and other similar
services and has the only true national footprint in its market,
with roughly 55 offices located throughout the United States, and
a preferred provider network which serves as an extension of
Alexander Gallo's geographic reach.  Founded in 1999 by Alexander
J. Gallo, a former court reporter, AGH has made 18 acquisitions
since 2003.  Mr. Gallo has remained as CEO.

AGH, along with affiliates, filed for Chapter 11 protection
(Bankr. S.D.N.Y. Lead Case No. 11-14220) on Sept. 7, 2011.
Alexander Gallo will sell the business via 11 U.S.C. Sec. 363 to
Bayside Capital Inc., which had acquired $22 million in second-
lien debt.  The price wasn't disclosed.

Alexander Gallo disclosed assets of $208 million and debt totaling
$258 million as of June 30, 2011.  Liabilities include $47 million
on a first-lien revolving credit and term loan where Wells Fargo
Bank NA is agent.  In addition to the second-lien debt held by
Bayside, there is $33 million in junior unsecured subordinated
notes owing to Harvest Equity Partners LLC plus another $148
million in junior unsecured subordinated notes owing to insider
Gallo Holdings LLC.

Bayside will also provide $20 million in financing for the
Chapter 11 effort.  The new loan will have a first priority lien
on unencumbered assets and a lien behind the first-lien debt.

Bankruptcy Judge Allan J. Gropper presides over the case.  Thomas
R. Califano, Esq., at Jeremy R. Johnson, Esq., at Daniel G. Egan,
Esq., at DLA Piper LLP (US), serve as the Debtors' general
counsel.  Squire, Sanders & Demsey (US) LLP serves as the Debtor's
corporate counsel.  The Debtors' financial advisor is Gordian
Group, LLC.  Marc L. Pfefferle, a partner at Carl Marks Advisory
Group LLC, serves as the Debtors' chief restructuring advisor.
Kurtzman Carson Consultants LLC serves as the Debtor's claims
agent.


ALLEN FAMILY: Committee Seeks to Retain AEI as Appraisers
---------------------------------------------------------
The Official Committee of Unsecured Creditors of Allen Family
Foods, Inc., et al., seeks to retain Appraisal Economics, Inc., as
its appraisers, nunc pro tunc to Aug. 23, 2011, and to waive
certain information requirements of Local Rule 2016-2.

Among other things, the Court's June 27, 2011 Sale Order approved
the purchase agreement between the Debtors and Harim USA, Ltd.,
for the sale of certain assets free and clear of liens, claims,
encumbrances, and interests.  The Assets include certain vehicles
and equipment -- Fixed Assets -- upon which MidAtlantic Farm
Credit, ACA, for itself and as the agent/nominee for lenders who
made senior prepetition secured loans to the Debtors, does not
have valid and perfected liens.

The Creditors Committee seeks to retain Appraisal Economics to
conduct an appraisal of the Fixed Assets, which are located in
Delaware, Maryland, and North Carolina, to aid in determining what
portion of the Sale Proceeds should be allocated to the Fixed
Assets.

The services to be provided by Appraisal Economics include:

     * Completing a comprehensive appraisal of the approximately
       1,000 items that comprise the Fixed Assets of the Debtors;

     * Appraising the Fixed Assets based on the (i) cost approach
       or (ii) market approach valuation methodologies; and

     * Providing a detailed valuation report discussing the
       important factors considered in preparing a report, which
       may include the identification of subject assets; purpose
       of the appraisal; intended use of the appraisal; effective
       date of the appraisal; methodology; scope of work;
       statement of ownership; and evaluation considerations.

The Creditors Committee proposes to pay Appraisal Economics $8,000
for the initial appraisal services, including reimbursement of
actual and necessary out-of-pocket expenses, plus any additional
fees that may arise (i) in the event Appraisal Economics is asked
to appraise more than the initial 1,000 items, (ii) circumstances
such as litigation mandate a more through appraisal, or (iii)
court appearances are required at the firm's standard hourly
rates.  In accordance with the terms of the engagement letter
between the parties, the Appraisal Fee is due upon completion of
the appraisal report.

Given the nature of Appraisal Economics' engagement and the fee
structure, the Creditors' Committee submits that the recording and
submission of detailed time entries by the firm would be
unnecessary and unduly burdensome to Appraisal Economics.  The
Creditors' Committee requests that the detailed time entry
reporting requirements of Local Rule 2016-2(d) be waived pursuant
to Local Rule 2016-2(g).

The Creditors Committee believes that Appraisal Economics is a
disinterested person as the term is defined in Section 101(14) of
the Bankruptcy Code and that the firm neither holds nor represents
any interest adverse to the Debtors or their estates.

                      About Allen Family

Allen Family Foods Inc. is a 92-year-old Seaford, Del., poultry
company.

Allen Family Foods and two affiliates, Allen's Hatchery Inc. and
JCR Enterprises Inc., filed for Chapter 11 bankruptcy protection
(Bankr. D. Del. Case No. 11-11764) on June 9, 2011.  It estimated
assets and liabilities between $50 million and $100 million in its
petition.

Robert S. Brady, Esq., and Sean T. Greecher, Esq., at Young,
Conaway, Stargatt & Taylor, in Wilmington, Delaware, serve as
counsel to the Debtors.  FTI Consulting is the financial advisor.
BMO Capital Markets is the Debtors' investment banker.  Epiq
Bankruptcy Solutions LLC is the claims and notice agent.

Lowenstein Sandler PC and Womble Carlyle Sandridge & Rice, PLLC,
serve as counsel for the official committee of unsecured
creditors.  J.H. Cohn LLP serves as the Committee's financial
advisor.

The Creditors Committee's deadline to challenge the liens and
claims of the prepetition lenders expired Sept. 9, 2011.


AMERICAN DEFENSE: Reports $1.8 Million Second Quarter Net Loss
--------------------------------------------------------------
American Defense Systems, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $1.8 million on contract revenues of
$1.8 million for the three months ended June 30, 2011, compared
with a net loss of $3.7 million on contract revenues of
$8.7 million for the same period last year.

The Company recorded losses from discontinued operations of
$362,575 and $574,412 for the three months ended June 30, 2011,
and 2010, respectively.

For the six months ended June 30, 2011, the Company had net income
of $10.2 million on contract revenues of $4.4 million, compared
with a net loss of $4.5 million on contract revenues of
$20.0 million for the comparable period of 2010.

Other income totaled $10.1 million for the six months ended
June 30, 2011, and included a gain on the redemption of the Series
A Preferred of $12.8 million, absent in 2010.

The Company recorded income from discontinued operation of
$2.5 million which included a gain on the sale of APSG of
$2.9 million for the six months ended June 30, 2011.  The Company
recorded a loss from discontinued operation of $517,765 for the
six months ended June 30, 2010.

The Company's balance sheet at June 30, 2011, showed $4.2 million
in total assets, $3.7 million in total liabilities, and
stockholders' equity of $504,640.

As reported in the TCR on April 26, 2011, Marcum LLP, in Melville,
New York, expressed substantial doubt about American Defense
Systems' ability to continue as a going concern, following the
Company's 2010 results.  The independent auditors noted that as of
Dec. 31, 2010, the Company had a working capital deficiency of
$14.1 million, an accumulated deficit of $26.3 million, a
shareholders' deficiency of $9.8 million and cash on hand of
$428,160.

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

                       http://is.gd/9it2Xj

                      About American Defense

Hicksville, N.Y.-based American Defense Systems, Inc., is a
defense and security products company engaged in three business
areas: customized transparent and opaque armor solutions for
construction equipment and tactical and non-tactical transport
vehicles used by the military; architectural hardening and
perimeter defense, such as bullet and blast resistant transparent
armor, walls and doors.  The Company also operates the American
Institute for Defense and Tactical Studies.  The Company is in the
process of negotiating a sale or disposal of the portion of its
business related to the operation of a live-fire interactive
tactical training range location in Hicksville, N.Y.  The portion
of the Company's business related to vehicle anti-ram barriers
such as bollards, steel gates and steel wedges that deploy out of
the ground was sold as of March 22, 2011.


AMT LLC: Files Omega-Funded Reorganization Plan
-----------------------------------------------
AMT, LLC, filed with the U.S. Bankruptcy Court for the Northern
District of Florida, Pensacola Division, a Chapter 11 plan of
reorganization and an accompanying disclosure statement.

The Plan will be funded primarily by the proceeds of the
$14.1 million loan obtained from Omega Commercial Finance.  The
loan is secured by the Debtor's 11.77 acre of undeveloped land
located on the waterfront on Destin pass.

The Debtor says that if the Plan is not confirmed and its case is
converted to Chapter 7 liquidation, a Chapter 7 Trustee would take
possession of the Debtor's assets and would determine whether the
assets have equity over and above amounts owed to secured
creditors.  If there is equity in the Debtor's assets, the trustee
will attempt to sell those assets and use the equity to distribute
to creditors.  If there is no equity in the assets, the trustee
would surrender secured assets to the secured creditor.

The Plan provides for this classification of claims:

   Class 1      Administrative Expenses
   Class 2      Secured claim of Jefferson Bank and Trust Company
   Class 3      Priority claim of Okaloosa County Tax Collector
   Class 4      General Unsecured Claims
   Class 5      Claim of U.S. Trustee
   Class 6      Claim of ZTF Family, LP

At the behest of the Debtor, the Court will set a combined hearing
on the approval of the Disclosure Statement and confirmation of
the Plan.

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

                          About AMT LLC

AMT, LLC, in Destin, Florida, filed for Chapter 11 bankruptcy
(Bankr. N.D. Fla. Case No. 11-30933) on May 27, 2011.  The
Debtor's major asset consisted of 11.77 acres of waterfront
property located in Destin Pass in Destin, Florida.  Judge William
S. Shulman presides over the case.  J. Steven Ford, Esq., at
Wilson, Harrell, Farrington, Ford, Wilson, Spain, & Parsons, P.A.,
in Pensacola, Fla., serves as the Debtor's counsel.  In its
schedules, the Debtor disclosed $30,679,648 in assets and
$5,060,823 in liabilities.


APOLLO MEDICAL: Incurs $122,800 Net Loss in July 31 Quarter
-----------------------------------------------------------
Apollo Medical Holdings, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $122,834 on $1.09 million of revenue for the three
months ended July 31, 2011, compared with a net loss of $60,130 on
$1.04 million of revenue for the same period during the prior
year.

The Company also reported a net loss of $352,764 on $2.13 million
of revenue for the six months ended July 31, 2011, compared with a
net loss of $60,973 on $1.84 million of revenue for the same
period a year ago.

The Company's balance sheet at July 31, 2011, showed $1.74 million
in total assets, $1.89 million in total liabilities and a $147,291
total stockholders' deficit.

The Company reported a net loss of $156,331 on $3.89 million of
revenue for the year ended Jan. 31, 2011, compared with a net loss
of $196,280 on $2.44 million of revenue during the prior year.

As reported in the Troubled Company Reporter on June 2, 2010,
Kabani & Company, Inc., in Los Angeles, expressed substantial
doubt about the Company's ability to continue as a going concern,
following the Company's results for the fiscal year ended
Jan. 31, 2010.  The independent auditors noted that the Company
has an accumulated deficit of $1.24 million as of Jan. 31, 2010,
working capital of $1.07 million and cash flows used in operating
activities of $338,141.

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

                        http://is.gd/NIMUGt

                        About Apollo Medical

Glendale, Calif.-based Apollo Medical Holdings, Inc., provides
hospitalist services in the Greater Los Angeles, California area.
Hospitalist medicine is organized around the admission and care of
patients in an inpatient facility such as a hospital or skilled
nursing facility and is focused on providing, managing and
coordinating the care of hospitalized patients.


ARK DEVELOPMENT: Gets Final OK to Access Midland's Cash Collateral
------------------------------------------------------------------
The Hon. John K. Olson of the U.S. Bankruptcy Court for the
Southern District of Florida authorized, on a final basis, Ark
Development/Oceanview, LLC, to use the cash collateral of Midland
Loan Services, Inc.

As reported in the Troubled Company Reporter on May 5, 2011, the
Debtor sought permission to use $11,000 in monthly rental income
from its property at 1423 North Atlantic Boulevard in Fort
Lauderdale, Florida, to finalize construction improvements
associated with the 1423 Property.  The Debtor said any cash
generated by the 1423 Property may constitute cash collateral of
Midland.

The Debtor would use the cash collateral to pay all ordinary and
necessary construction improvement expenditures in the ordinary
course of its business for the purposes.

As adequate protection for any diminution in value of the lender's
collateral, the Debtors will grant Midland, a first priority
postpetition security interest and lien in, to and against all of
the Debtor's rental income from the Midland property, to the same
extent that Midland held prepetition.

                         Loans from Kodsis

In a separate order, the Court denied as moot the proposed
postpetition financing from Isaac Kodsi, Joseph Kodsi and other
related entities.

The TCR reported on July 28, 2011, that the Debtor asked for
authorization to obtain postpetition financing of $15,932 per
month, on a interim basis, from Isaac Kodsi, Joseph Kodsi or other
related or affiliated entities, to make the proposed adequate
protection payments to Northern Trust, which payments commence on
Aug. 1, 2011.  The Debtor tells the Court that the adequate
protection payments are necessary to enable it to confirm its
Plan.

Isaac Kodsi and Joseph Kodsi each own 50% of the Debtor.

                      About Ark Development

Ark Development/Oceanview LLC owns three luxury homes in
Fort Lauderdale, Florida -- at 1431 North Atlantic Boulevard; 1427
North Atlantic Boulevard; and 1423 North Atlantic Boulevard.  As
of the Petition Date, all three properties were in the final
stages of the construction process.  Subsequent to the Petition
Date, the Debtor has completed construction of the 1427 Property
and a certificate of occupancy for the residence has been issued
by the City of Fort Lauderdale.

The Debtor estimates that the value of each property is roughly
$4 million.  Currently, the Debtor's sole source of income is
generated from the rental income from the 1423 Property.  The
Debtor utilizes the rental income from the 1423 Property to pay
the expenses associated with maintaining the 1423 Property.

Ark Development/Oceanview filed for Chapter 11 bankruptcy (Bankr.
S.D. Fla. Case No. 11-20382) on April 18, 2011.  Judge John K.
Olson presides over the case.  It scheduled assets of $12,000,000
and debts of $9,772,531.

The Debtor has retained Shraiberg, Ferrara & Landau, P.A., as
general bankruptcy counsel.


ARK DEVELOPMENT: Withdraws Motion for Withdrawal as Counsel
-----------------------------------------------------------
Ark Development/Oceanview, LLC, withdrew its motion filed with the
U.S. Bankruptcy Court for the Southern District of Florida to
withdraw Shraiberg, Ferrara & Landau, P.A., as its counsel.

In connection, Shraiberg Ferrara previously asked the Court to
formalize its withdrawal as counsel for the Debtor due to
irreconcilable differences that have arisen among the parties,
according to the Troubled Company Reporter on August 25, 2011.

                    About Ark Development

Ark Development/Oceanview LLC owns three pieces luxury homes in
Fort Lauderdale, Florida -- at 1431 North Atlantic Boulevard; 1427
North Atlantic Boulevard; and 1423 North Atlantic Boulevard.  All
three properties are in the final stages of the construction
process.  The Debtor estimates that the value of each property is
roughly $4 million.

Ark Development/Oceanview filed for Chapter 11 bankruptcy (Bankr.
S.D. Fla. Case No. 11-20382) on April 18, 2011.  Judge John K.
Olson presides over the case.  The Debtor disclosed $12,017,522 in
assets and $11,794,591 in liabilities as of the Chapter 11 filing.

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


AUSTRALIA PROPERTY: Case Summary & 5 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Australia Property Group LLC
        18501 Pines Boulevard, Suite 300
        Pembroke Pines, FL 33029

Bankruptcy Case No.: 11-35346

Chapter 11 Petition Date: September 13, 2011

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

Judge: John K. Olson

Debtor's Counsel: Martin L. Sandler, Esq.
                  SANDLER & SANDLER BY M. L. SANDLER, P.A.
                  P.O. Box 402727
                  Miami Beach, FL 33140
                  Tel: (305) 379-6655
                  Fax: (786) 472-7077
                  E-mail: martin@sandler-sandler.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/flsb11-35346.pdf

The petition was signed by Mario Perez, managing member.


AVION POINT: Prepares to Sell, Opposes Rubright Lift Stay Plea
--------------------------------------------------------------
Avion Point West LLC asks the Honorable Karen S. Jennermann to
deny the motion to terminate, annul or modify the automatic stay
filed by Tara S. Pellegrino, on behalf of Rubright Family Limited
Partnership.

The Debtor notes that in the Lift Stay Motion, Rubright seeks
relief from the stay to enforce its note and mortgage rights and
to complete a state court foreclosure action against real property
of the Debtor or the Debtor's affiliate, Orlando County Aviation
Services, Inc.  In the alternative, Rubright seeks adequate
protection or dismissal for bad faith.

Rubright's mortgage is senior to most, if not all, of the
mortgages on the real property except for that of Alterna Capital
Funding, Roman V. Hammes, Esq., at Wolff, Hill, McFarlin & Herron,
P.A., in Orlando, Florida, relates.  Granting the Lift Stay Motion
will effectively wipe out numerous junior liens on the real
property, he says.

The Debtor anticipates a contract for the sale of its real
property that will satisfy all liens, according to Mr. Hammes.
He asserts that Rubright is adequately protected by the
substantial equity in the aggregate real property.

The aggregate real property is necessary for an effective
reorganization of the Debtor and Orlando Aviation, Mr. Hammes
tells the Court.  The best interests of the creditors as a whole
will be served by allowing the Debtor and Orlando Aviation
adequate time to propose a confirmable plan of reorganization, he
asserts.  The Lift Stay Motion should be denied, he says.

The Honorable Karen S. Jennermann set a preliminary non-
evidentiary hearing for Aug. 30, 2011, on the Lift Stay Motion.
The automatic stay is extended until final order is entered on
this motion.

                      About Avion Point West

Based in Longwood, Florida, Avion Point West LLC and its
affiliate, Orlando Country Aviation Services Inc., filed for
Chapter 11 bankruptcy protection (Bank. M.D. Fla. Case Nos.
11-10364 and 11-10365) on July 8, 2011.  Judge Karen S. Jennemann
presides over the Debtors' cases.  Frank M. Wolff, Esq., at Wolff
Hill McFarlin & Herron PA, represents the Debtor.  The Debtor
estimated assets between $10 million and $50 million, and debts
between $1 million and $10 million.

The petitions were signed by James PA Thompson, the managing
member.  Mr. Thompson is the developer of Orlando Apopka Airport
in northwest Orange County.  During the past decade, Mr. Thompson
has transformed Orlando Apopka Airport, on U.S. Highway 441
between Plymouth and Zellwood, from an old airfield called Orlando
Country Airport into a complex of hangar condominiums whose owners
now control the facility.


AVSTAR AVIATION: Posts $20,200 Net Loss in Second Quarter
---------------------------------------------------------
AvStar Aviation Group, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $20,244 for the three months ended
June 30, 2011, compared with a net loss of $221,531 for the same
period last year.

Revenues for the second quarter 2011 were $645,363 (consisting of
637,161 of revenues from aviation operations and $8,202 in
revenues from oil and gas operations) compared to revenues of
$55,844 for the second quarter 2010 (consisting of $55,703 in
revenues from aviation operations and $141 in revenues from oil
and gas operations).

The Company had net income of $939 on $1.2 million of revenues for
the six months ended June 30, 2011, compared to a net loss of
$822,972 on $157,362 of revenues for the same period of 2010.

The Company's balance sheet at June 30, 2011, showed
$1.2 million in total assets, $2.1 million in total liabilities,
and a stockholders' deficit of $929,207.

Clay Thomas, P.C., in Houston, expressed substantial doubt about
Avstar Aviation Group's ability to continue as a going concern
following the Company's 2010 results.  Mr. Thomas noted that the
Company has suffered significant losses and will require
additional capital to develop its business until the Company
either (1) achieves a level of revenues adequate to generate
sufficient cash flows from operations; or (2) obtains additional
financing necessary to support its working capital requirements.

A complete text of the Form 10-Q is available for free at

                       http://is.gd/f4Sh3R

Houston, Texas-based AvStar Aviation Group, Inc. (OTC QB: AAVG)
-- http://www.avstarinc.com/-- due to acquisitions, is now in two
aviation sectors, the  maintenance, repair and overhaul ("MRO") of
aircraft providing products and services for the general aviation
sector, and the charter air service business.


BANK UNITED: U.S. Bank Reserves Right to Object to Panel's Plan
---------------------------------------------------------------
U.S. Bank National Association, as indenture trustee for the
3.125% senior notes due 2034, notified the U.S. Bankruptcy Court
for the Southern District of Florida that it reserves its right
regarding the Second Amended Disclosure Statement relating to the
Second Amended Plan for The Bank United Financial Corporation, et
al.

According to U.S. Bank, the Disclosure Statement provides that the
$184 million in 6.37% senior notes due May 2012 for which Bank of
New York Mellon serves as indenture trustee, and the 12.5 million
in junior subordinated debentures due Dec. 15, 2007, rank pari
passu with the $120 million of senior convertible notes that
mature in 2034 for which U.S. Bank serves as indenture trustee.

In summarizing the Plan, the Disclosure Statement provides that
HiMEDS Notes, Junior Subordinated indentures and senior
convertible Notes will each receive a pro rata distribution of the
net free cash.

U.S. Bank filed the pleading, out of an abundance of caution to
clarify that the Committee's description of the priority of claims
and interests in the Disclosure Statement will be in no way affect
the right of U.S. Bank to object not only to the Plan
classification of claims and interests, but also to the treatment
and distributions to holders of claims and interests.

U.S Bank is represented b:

         Craig V. Rasile, Esq.
         Andrew D. Zaron, Esq.
         DLA PIPER LLP
         200 South Biscayne Blvd., Suite 2300
         Miami, FL 33131
         Tel: (305) 423-8539
         Fax: (305) 437-8131
         E-mail: craig.rasile@dlapiper.com
                 andrew.zaron@dlapiper.com

                        The Chapter 11 Plan

The Plan was proposed by the Official Committee of Unsecured
Creditors on June 15, 2011.

As reported in the Troubled Company Reporter on June 20, 2011, in
the Disclosure Statement, the Creditors Committee asserts, "The
Debtors maintain that the Plan forfeits an asset that could have
substantial value, namely net operating loss carryforwards, which
will be lost upon confirmation of the Plan or any other
liquidating plan.  However, given the failure of any party to come
forward with a binding offer to serve as a sponsor of a
reorganization plan (despite significant and prolonged efforts at
great expense to the BUFC Estate to find such a sponsor) and the
inability of the Debtors to confirm a plan of reorganization
without such a sponsor, the Committee believes that the Plan
presently is the only viable option and by, among other things,
streamlining costs, is in the best interests of creditors."

The TCR also reported that the Plan is based, in part, upon the
assumption that the Court will approve a settlement with the FDIC,
under which the FDIC has agreed to amend its proofs of claim from
$1 billion to no more than $45 million.  In the event the Court
denies the settlement with the FDIC, the Committee anticipates
that it will amend the Plan and Disclosure Statement.


                   About BankUnited Financial

BankUnited Financial Corp. (OTC Ticker Symbol: BKUNQ) --
http://www.bankunited.com/-- was the holding company for
BankUnited FSB, the largest banking institution headquartered in
Coral Gables, Florida.  On May 21, 2009, BankUnited FSB was closed
by regulators and the Federal Deposit Insurance Corporation
facilitated a sale of the bank to a management team headed by John
Kanas, a veteran of the banking industry and former head of North
Fork Bank, and a group of investors led by W.L. Ross & Co.
BankUnited, FSB, had assets of $12.8 billion and deposits of
$8.6 billion as of May 2, 2009.

The Company and its affiliates filed for Chapter 11 protection
(Bankr. S.D. Fla. Lead Case No. 09-19940) on May 22, 2009.
Stephen P. Drobny, Esq., and Peter Levitt, Esq., at Shutts & Bowen
LLP; Mark D. Bloom, Esq., and Scott M. Grossman, Esq., at
Greenberg Traurig, LLP; and Michael C. Sontag, at Camner, Lipsitz,
P.A., represent the Debtors as counsel.  Corali Lopez-Castro,
Esq., David Samole, Esq., at Kozyak Tropin & Throckmorton, P.A.;
and Todd C. Meyers, Esq., at Kilpatrick Stockton LLP, serve as
counsel to the official committee of unsecured creditors.

In its bankruptcy petition, BankUnited Financial Corp. disclosed
$37,729,520 in assets against $559,740,185 in debts.  Aside from
those assets, BankUnited said that a "valuable" asset is its $3.6
billion net operating loss carryforward.

Wilmington Trust Co., U.S. Bank, N.A., and the Bank of New York
were listed among the company's largest unsecured creditors in
their roles as trustees for security issues.  BankUnited estimated
the Bank of New York claim tied to convertible securities at
$184 million.  U.S. Bank and Wilmington Trust are owed
$120 million and $118.171 million on account of senior notes.


BIG VIEW: Voluntary Chapter 11 Case Summary
-------------------------------------------
Debtor: Big View Property I, LLC
        111 N. Market Street, #1010
        San Jose, CA 95113

Bankruptcy Case No.: 11-58575

Chapter 11 Petition Date: September 14, 2011

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

Judge: Arthur S. Weissbrodt

Debtor's Counsel: Dennis Yan, Esq.
                  LAW OFFICE OF DENNIS YAN
                  595 Market Street, #1350
                  San Francisco, CA 94105
                  Tel: (415) 867-5797
                  E-mail: dennisy@yahoo.com

Scheduled Assets: $2,500,000

Scheduled Debts: $2,164,469

The list of unsecured creditors filed together with its petition
does not contain any entry.

The petition was signed by Balak Verma, managing member.


BIOZONE PHARMACEUTICALS: Posts $568,000 Net Loss in Second Quarter
------------------------------------------------------------------
Biozone Pharmaceuticals, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $568,000 on $2.6 million of sales
for the three months ended June 30, 2011, compared with net income
of $59,000 on $3.1 million of sales for the same period last year.

For the six months ended June 30, 2011, the Company had a net loss
of $1.1 million on $5.0 million of sales for the three months
ended June 30, 2011, compared with net income of $139,000 on
$6.6 million of sales for the same period of 2010.

The Company's balance sheet at June 30, 2011, showed $11.1 million
in total assets, $10.7 million in total liabilities, and
stockholders' equity of $366,000.

"Our current balances of cash will not meet our working capital
and capital expenditure needs for the next twelve months," the
Company said in the filing.  "Because we are not currently
generating sufficient cash to fund our operations and we have debt
that is in default and notes that are due in the third fiscal
quarter of 2011, we will need to rely on external financing to
meet future operating, debt repayment and capital requirements.
These conditions raise substantial doubt about our ability to
continue as a going concern."

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

                       http://is.gd/BlOUrD

Biozone Pharmaceuticals, Inc. (formerly, International Surf
resorts, Inc.) was incorporated under the laws of the State of
Nevada on Dec. 4, 2006, to operate as an internet-based provider
of international surf resorts, camps and guided surf tours.  The
Company proposed to engage in the business of vacation real estate
and rentals related to its surf business and it owns the website
isurfresorts.com.  During late February 2011, the Company began to
explore alternatives to its original business plan.  On Feb. 22,
2011, the prior officers and directors resigned from their
positions and the Company appointed a new President, Director,
principal accounting officer and treasurer and began to pursue
opportunities in medical and pharmaceutical technologies and
products.  On March 1, 2011, the Company changed its name to
Biozone Pharmaceuticals, Inc.

Since March 2011, the Company has been engaged primarily in
seeking opportunities related to its intention to engage in
medical and pharmaceutical businesses.  On May 16, 2011, the
Company acquired substantially all of the assets and assumed all
of the liabilities of Aero Pharmaceuticals, Inc., pursuant to an
Asset Purchase Agreement dated as of that date.  Aero manufactures
markets and distributes a line of dermatological products under
the trade name of Baker Cummins Dermatologicals.

On June 30, 2011, the Company acquired the Biozone Labs Group
which operates as a developer, manufacturer, and marketer of over-
the-counter drugs and preparations, cosmetics, and nutritional
supplements on behalf of health care product marketing companies
and national retailers.


BISCAYNE PARK: Cardenas Seeks Dismissal of Chapter 11 Case
----------------------------------------------------------
Teresa Cardenas, an interested party in the Chapter 11 case of
Biscayne Park LLC, has asked the U.S. Bankruptcy Court for the
Southern District of Florida to dismiss the case.

Ms. Cardenas' lawyer, Scott Alan Orth, Esq., at the Law Offices of
Scott Alan Orth P.A., in Hollywood, Florida, said the bankruptcy
case no longer serves any purpose and that Biscayne will only
incur fees and costs if the case continues.

Mr. Orth also said that most of the assets of Biscayne, including
the debtor-in-possession account, have already been sold.

Early this year, Biscayne also proposed the dismissal of its
bankruptcy case.  The move came after the Court confirmed the sale
of the company's assets to Madison Park Realty LP.

Madison, which has an allowed claim of roughly $10.6 million
secured by the assets, emerged as the winning bidder at a court-
ordered auction on December 1, 2010.

The Court will hold a hearing on Oct. 4, 2011, at 11:30 a.m. to
consider the proposed dismissal of the case.

                      About Biscayne Park LLC

Miami, Florida-based Biscayne Park LLC filed for Chapter 11
bankruptcy protection (Bankr. S.D. Fla. Case No. 10-20941) on
April 26, 2010.  Joel M. Aresty, Esq., who has an office in North
Miami Florida, assists the Company in its restructuring effort.
The Company disclosed $13.3 million in assets and $14.3 million in
liabilities as of the Petition Date.


BLUEKNIGHT ENERGY: Unitholders OK Amendment to Partnership Pact
---------------------------------------------------------------
Blueknight Energy Partners, L.P., announced that its unitholders
approved certain amendments to its partnership agreement and the
long-term incentive plan of its general partner during a special
meeting of the Partnership's unitholders held on Sept. 14, 2011.

"The approval of the amendments to BKEP's partnership agreement is
key to the refinancing and restructuring of the Partnership.  We
appreciate the unitholders support.  We remain positive on BKEP's
future and look forward to building value for our unitholders, our
customers and our employees," explained Mr. James C. Dyer, Chief
Executive Officer of BKEP's general partner.

Approval of the Partnership Agreement Amendment Proposal required
the affirmative vote of the majority of the Partnership's common
units and subordinated units.  Approximately 76.6% of the
Partnership's outstanding common units participated in voting
relating to the Partnership Agreement Amendment Proposal.  Votes
cast by common unitholders in favor of the Partnership Agreement
Amendment Proposal totaled approximately 16.3 million common
units, representing approximately 97.3% of all votes cast by
common unitholders and approximately 75.1% of all outstanding
common units eligible to vote.

Approval of the LTIP Proposal required the affirmative vote of the
majority of the votes cast by the Partnership's unitholders.
Approximately 51.0 million of the Partnership's outstanding units
participated in voting relating to the LTIP Proposal with
approximately 90.7% of such votes cast in favor of the LTIP
Proposal.

Pursuant to the Global Transaction Agreement entered into by the
Partnership and the other parties thereto on Oct. 25, 2010, as
amended on May 12, 2011, after the approval of the Partnership
Agreement Amendment Proposal, the holders of the Partnership's
subordinated units transferred such units to the Partnership and
such subordinated units were subsequently cancelled by the
Partnership.

                      About Blueknight Energy

Blueknight Energy Partners, L.P. (Pink Sheets: BKEP)
-- http://www.bkep.com/-- provides integrated terminalling,
storage, processing, gathering and transportation services for
companies engaged in the production, distribution and marketing of
crude oil and asphalt product. It provides services for the
customers, and its only inventory consists of pipeline linefill
and tank bottoms necessary to operate the assets. It has three
operating segments: crude oil terminalling and storage services,
crude oil gathering and transportation services, and asphalt
services.

The Company reported a net loss of $23.79 million on
$152.62 million of total revenue for the year ended Dec. 31, 2010,
compared with a net loss of $16.50 million on $156.77 million of
total revenue during the prior year.

The Company's balance sheet at June 30, 2011, showed
$327.44 million in total assets, $372.97 million in total
liabilities, and a $45.52 million total partners' deficit.


BLUEKNIGHT ENERGY: Plans to Launch Rights Offering
--------------------------------------------------
Blueknight Energy Partners, L.P., announced that it intends to
launch a rights offering, pursuant to which it will distribute
detachable freely-tradable rights pro rata to common unitholders
of record as of the close of business on Sept. 27, 2011.  Record
Date Unitholders will receive 0.5412 Rights for every common unit
owned on the Record Date.  Each whole Right will entitle the
holder to acquire, for an exercise price of $6.50, a newly-issued
Series A Preferred Unit of the Partnership.

The Partnership intends to distribute the Rights to the Record
Date Unitholders on Oct. 3, 2011.  The Company has applied to list
the Rights on the NASDAQ Global Market.  The Rights are expected
to trade during the month of October 2011 until the close of the
NASDAQ Global Market on Oct. 31, 2011, the expiration date of the
Rights.

The Partnership has filed a registration statement on Form S-3
with the Securities and Exchange Commission that registers the
Series A Preferred Units underlying the Rights and the common
units into which the Series A Preferred Units are convertible.
The registration statement was declared effective on July 26,
2011.

                      About Blueknight Energy

Blueknight Energy Partners, L.P. (Pink Sheets: BKEP)
-- http://www.bkep.com/-- provides integrated terminalling,
storage, processing, gathering and transportation services for
companies engaged in the production, distribution and marketing of
crude oil and asphalt product. It provides services for the
customers, and its only inventory consists of pipeline linefill
and tank bottoms necessary to operate the assets. It has three
operating segments: crude oil terminalling and storage services,
crude oil gathering and transportation services, and asphalt
services.

The Company reported a net loss of $23.79 million on
$152.62 million of total revenue for the year ended Dec. 31, 2010,
compared with a net loss of $16.50 million on $156.77 million of
total revenue during the prior year.

The Company's balance sheet at June 30, 2011, showed
$327.44 million in total assets, $372.97 million in total
liabilities, and a $45.52 million total partners' deficit.


BRAINY BRANDS: Incurs $16.5 Million Second Quarter Net Loss
-----------------------------------------------------------
The Brainy Brands Company, Inc., filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q,
reporting a net loss of $16.57 million on $216,324 of total
revenues for the three months ended June 30, 2011, compared with a
net loss of $161,000 on $102,000 of total revenues for the same
period during the prior year.

The Company also reported a net loss of $18.05 million on $313,000
of total revenues for the six months ended June 30, 2011, compared
with a net loss of $339,000 on $219,000 of total revenues for the
same period a year ago.

The Company's balance sheet at June 30, 2011, showed $1.62 million
in total assets, $20.15 million in total liabilities, and a
$18.53 million shareholders' deficit.

Habif, Arogeti & Wynne, LLP, in Atlanta, Ga., expressed
substantial doubt about The Brainy Brands' ability to continue as
a going concern, following the Company's 2010 results.  The
independent auditors noted that the Company has incurred
significant operating losses and has a net capital deficiency.

A full-text copy of the Form 10-Q, as amended, is available for
free at http://is.gd/Voybc1

                        About Brainy Brands

Suwanee, Ga.-based The Brainy Brands Company, Inc., through its
operating subsidiary, engages in the business of selling
educational DVDs, books, games, and toys for babies, toddlers and
pre-schoolers both domestically and internationally through
retailers under licensing agreements, as well as directly to
customers primarily via internet sales.


B.R. SUMMERLIN: Gibbs Giden to be Paid From Operating Revenues
--------------------------------------------------------------
B.R. Summerlin Property, LLC, has filed with the U.S. Bankruptcy
Court for the District of Nevada an amended plan of reorganization
dated Sept. 9, 2011.

The changes to the amended plan pertain to the treatment of Class
5 claims, the unsecured claims of Gibbs, Giden, Locher, & Turner.
Instead of being paid in 3 equal installments, Gibbs Giden will be
paid 100% of net operating revenues until the Claim is paid in
full.

In particular, the amended plan specifies this treatment of Class
5 claims:

     Class 5 (Gibbs Giden Unsecured Claim) - The Allowed Claim of
     Gibbs, Giden, Locher, & Turner will be paid in full with
     interest at the Unsecured Post-Petition Interest Rate.  After
     the payment of Unclassified Claims required to be paid
     pursuant to this Plan, the Holder of the Class 5 Claim will
     receive 100% of Net Operating Revenues until the Claim is
     paid in full with interest at the Unsecured Post-Petition
     Interest Rate.  If the Class 5 Claim has not been paid in
     full on the 40th day following the Effective Date, the unpaid
     portion of the Class 5 Claim will be paid by the Guarantors.
     The Holder of the Class 5 Claim is impaired and is entitled
     to vote on this Plan.

In addition, the amended plan adds this language to the treatment
of Class 1 claims:

     All Net Operating Revenues will be paid to the Holder of the
     Allowed Class 1 Claim to be applied against the principal
     balance of the New Secured Note until the earlier of (i) the
     Modified Maturity Date or (ii) the New Secured Note is paid
     in full.

A blacklined copy of the Reorganization Plan is available for free
at http://bankrupt.com/misc/BRSUMMERLIN_plan_amended.pdf

The hearing on the amended disclosure statement is scheduled on
Sept. 19, 2011, at 9:30 A.M.

Greystone Bank is represented by:

         Richard F. Holley, Esq.
         SANTORO, DRIGGS, WALCH, KEARNEY, HOLLEY & THOMPSON
         400 Las Negas, NV 89101
         Tel: (702) 791-0308
         Fax: (702) 791-1912
         E-mail: rholley@nevadafirm.com

                         The Debtor's Plan

As reported in the Troubled Company Reporter on July 8, 2011 the
Court approved the disclosure statement explaining the Debtor's
Second Amended Plan of Reorganization.

The proposed Plan divides the creditors and interest holders into
six classes.  Class 1 consists of the secured claim of Greystone
Bank, its primary creditor, that the Debtor proposes to pay in
full within seven years.  Class 2 consists of other secured claims
and Class 3 consists of priority unsecured claims.  The Debtor
does not believe, however, that any claims actually exist in Class
2 or Class 3.  Class 4 encompasses general unsecured claims
against the Debtor which the Debtor estimates at approximately
$7,205.  Class 5 consists of the unsecured claim of Gibbs, Giden,
Locher, Turner & Sente in the approximate amount of $47,340.
Class 6 consists of the equity interest holders of the Debtor.
Class 6 Equity Interests are impaired under the Second Amended
Plan.  Class 6 was unimpaired under the First Amended Plan.

Leasehold Resource Group, LLC, has up to 23 years remaining on the
term of the lease to the Debtor's property, a skilled nursing
facility known as The Heights of Summerlin, located at 10550 Park
Run Drive, in Las Vegas, Nevada.

The Debtor said it intends to assume the Lease pursuant to the
Plan.  As a result, upon expiration or termination of the Lease,
the Debtor will continue to be obligated to return the portion of
LRG's $420,000 security deposit not used or applied in accordance
with the Lease.  Based on the Debtor's projections, the Debtor
will have sufficient cash on hand to satisfy this obligation.

To the extent LRG does not exercise its option, the Lease will
terminate in approximately three years.  In that event, the Debtor
will either (i) lease the Facility to another tenant, or (2)
operate the Facility.

                  About B.R. Summerlin Property

Woodland Hills, California-based B.R. Summerlin Property, LLC,
filed for Chapter 11 bankruptcy protection (Bankr. D. Nev. Case
No. 11-10148) on Jan. 5, 2011.  The Company disclosed $23,066,151
in assets and $15,414,103 in liabilities.

Affiliates B.R. Brookfield Commons No. 1, LLC (Bankr. D. Nev. Case
No. 10-38835) and B.R. Brookfield Commons No. 2, LLC (Bankr. D.
Nev. Case No. 10-38838) filed separate Chapter 11 petitions on
Nov. 29, 2010.  The Debtor disclosed $23.07 million in assets, and
$15.4 million in debts.

B.R. Summerlin Property is represented by Gregory E. Garman, Esq.,
-- ggarman@gordonsilver --, Gabrielle A. Hamm, Esq., --
ghamm@gordonsilver.com --, at Gordon Silver, in Los Angeles,
Nevada.


BROTHER SONNY: Seeks to Hire Merrill and Green as Special Counsel
-----------------------------------------------------------------
Brother Sonny LLC seeks authority from the U.S. Bankruptcy Court
for the District of Nevada to employ (i) David J. Merrill P.C. as
its special counsel, nunc pro tunc to July 27, 2011, and (ii)
Thomas R. Green as special co-counsel, nunc pro tunc to July 27,
2011.

On Dec. 30, 2010, Gregory Bischoff filed a complaint in the Eighth
Judicial District Court, District of Nevada against the Debtor,
Schams Properties, LLC, and Randolph P. Schams, individually, as
Case No. A-10-632357-C.  Mr. Bischoff filed an amended complaint
on Mar. 1, 2011, and a second amended complaint on May 23, 2011.
The Bischoff Litigation is currently pending in the Eighth
Judicial District Court.  Schams Properties and Mr. Schams will
soon be removing the proceeding to the Bankruptcy Court, according
to the Debtor.

On Dec. 30, 2010, Frank Trimboli filed a complaint in the Eighth
Judicial District Court, District of Nevada against the Debtor,
Schams Properties, LLC, and Randolph P. Schams, individually, as
Case No. A-10-632358-C.  Mr. Trimboli filed an amended complaint
on Mar. 1, 2011, and a second amended complaint on May 25, 2011.
The Trimboli Litigation is currently pending in the Eighth
Judicial District Court.  Schams Properties and Mr. Schams will
soon be removing the proceeding to the Bankruptcy Court, the
Debtor relates.

On June 28, 2011, CraneVeyor Corp. filed a complaint in the U.S.
District Court, Central District of California against the Debtor,
Schams Family Trust Dated June 10, 2003, Randolph P. Schams,
Christine Schams, and Rancris, Inc., as Case No. 2:11-cv-05381-GW-
MRW, alleging that the Schams Family Trust fraudulently conveyed
property secured by a Deed of Trust in favor of CraneVeyor to the
Debtor.  The CraneVeyor Litigation is currently pending in the
District Court.  Schams Family Trust, Mr. Schams, Ms. Schams, and
Rancris intend to seek removal of the CraneVeyor Litigation to the
Bankruptcy Court as the subject property is property of the
Debtor's estate.

Merrill will represent the Debtor's interests in the Bischoff
Litigation and the Trimboli Litigation, subject to and in
compliance with the applicable provisions of the Bankruptcy Code,
Bankruptcy Rules, Local Rules, and the UST Guidelines.

Green will represent the Debtor's interests in the Bischoff
Litigation, the Trimboli Litigation, and the CraneVeyor
Litigation, subject to and in compliance with the applicable
provisions of the Bankruptcy Code, Bankruptcy Rules, Local Rules,
and the UST Guidelines.

The Debtor assures the Court that Green will strive to insure that
its employment will not be duplicative of the role of the Debtor's
general bankruptcy counsel, Schwartzer & McPherson Law Firm, and
proposed special counsel, David J. Miller, P.C.  Its retention of
Green will save the estate substantial time and monies, according
to the Debtor.

The Debtor will pay Merrill and Green their customary hourly rates
in effect from time to time and reimburse the firms for costs and
expenses incurred on the Debtor's behalf.  The Debtor informs the
Bankruptcy Court that the firm has received a $5,000 retainer.
Green has not received a retainer in this matter.

The Debtor believes that Merrill and Green do not hold or
represent any interest adverse to the estate.

A hearing to consider the applications will be held on Sept. 20,
2011.

Brother Sonny, LLC, in Boulder City, Nevada, is a land developer
and constructor of residential homes.  It filed for Chapter 11
bankruptcy (Bankr. D. Nev. Case No. 11-21798) on July 27, 2011.
Judge Bruce A. Markell presides over the case.  Lenard E.
Schwartzer, Esq., at Schwartzer & McPherson Law Firm, serves as
bankruptcy counsel.  In its petition, the Debtor estimated assets
and debts of $10 million to $50 million.  The petition was signed
by Randolph Schams, director of Rancris, Inc., its manager.


BROTHER SONNY: Seeks to Hire Needham Realty as Real Estate Broker
-----------------------------------------------------------------
Brother Sonny, LLC, seeks authority from the U.S. Bankruptcy Court
for the District of Nevada to employ Needham Realty and Claude G.
Needham as real estate broker on a commission basis, nunc pro tunc
to the Petition Date.

The Debtor's assets include several parcels of real property
located within the subdivision commonly known as Tuscany Retreat
located in Boulder City, Nevada.

The Debtor wishes to employ the Broker to market and sell the
Property under an exclusive right to sell, and pay a broker's
commission of 3% of the final closing price.

The Debtor believes that the Broker does not represent or hold any
interest adverse to the Debtor of its estate with respect to the
matters on which it is to be employed.

A hearing to consider the application is scheduled for Sept. 20,
2011.

Brother Sonny, LLC, in Boulder City, Nevada, is a land developer
and constructor of residential homes.  It filed for Chapter 11
bankruptcy (Bankr. D. Nev. Case No. 11-21798) on July 27, 2011.
Judge Bruce A. Markell presides over the case.  Lenard E.
Schwartzer, Esq., at Schwartzer & McPherson Law Firm, serves as
bankruptcy counsel.  In its petition, the Debtor estimated assets
and debts of $10 million to $50 million.  The petition was signed
by Randolph Schams, director of Rancris, Inc., its manager.


BUFFALO GULF: Moody's Assigns 'Ba1' Rating to Sr. Sec. Term Loan
----------------------------------------------------------------
Moody's Investors Service has assigned a Ba1 rating to the
$275 million senior secured term loan facility due 2017, to be
issued by Buffalo Gulf Coast Terminals, LLC. Buffalo is a holding
company set up by affiliates of Alinda Capital Partners, LLC to
hold its 100% ownership interest in Houston Fuel Oil Terminal
Company, which it is in the process of acquiring from ArcLight
Capital Partners, LLC. The rating outlook is stable.

RATINGS RATIONALE

Loan proceeds along with sponsor equity will be used to: i) fund
the acquisition; ii) repay the existing holding company credit
facility for AL Gulf Coast Terminals LLC in the amount of
approximately $290 million; and iii) cash fund a debt service
reserve account (if such account is not supported by a letter of
credit from the sponsor), which is sized to meet 6-months of
required debt service.

Alinda will own Buffalo, and in turn HFOTCO, through Alinda
Infrastructure Fund II. Fund II is an approximately $4.1 billion
infrastructure fund managed by Alinda, a private equity investment
firm founded in 2005, which is focused on investing in
infrastructure assets. Alinda has over $7.1 billion under
management. Alinda and its affiliated managed investment funds own
a diverse portfolio of companies in natural gas transmission,
natural gas storage, regulated gas distribution and water
utilities, inland barge terminal, water heating, air conditioning
and ventilation, and transportation assets such as airports and
toll roads.

The operating company, HFOTCO, is the largest provider of residual
fuel and crude oil storage in the Gulf Coast with approximately
13.8 million barrels of tankage, which will increase to about 16.8
million barrels by December 2013. In addition, HFOTCO is one of
the largest such facilities in the world. HFOTCO's sheer scale
also enables the company to provide additional ancillary services
and optionality for its customers, including product heating,
blending and transportation services for regional refiners, major
integrated oil companies and trading operations. The facility's
existing infrastructure also offers customers multiple
inbound/outbound logistics options including: deepwater ship,
ocean barge, inland barge, truck, rail and pipeline access.

The Ba1 rating reflects the highly contracted nature of the cash
flows, the low operating risks associated with this storage asset,
the credit quality of the contract counterparties and the contract
diversification. The rating also reflects the substantial cash
equity investment and commitment that Alinda and its affiliates
are making in Buffalo. However, the rating also reflects the high
consolidated leverage on the combined enterprise and the
structural subordination of the HoldCo term loan facility to the
debt at the OpCo level. Repayment of the HoldCo loan is dependent
upon refinancing at the end of term as there is only 1% scheduled
amortization and no sweep of excess cash flows. The leverage
covenant acts as an effective sweep to ensure appropriate
deleveraging. Having said that, the rating also considers several
qualitative project elements with emphasis on key credit strengths
relating to HFOTCO's strong market position, low operating risk
and strong customer base support.

The credit facility will be secured by a perfected first priority
security interest in all the assets of Buffalo and the Sponsor's
interest in the Borrower.

For further details on the ratings rationale, including credit
strengths and weaknesses, please refer to a Credit Opinion under
the Buffalo Gulf Coast Terminals LLC name to be published shortly
on Moodys.com.

The stable outlook reflects the expectation that the diversified
portfolio of contracts will generate relatively stable and
predictable cash flows, as the cash flows are derived from medium
term contracts with predominantly investment grade counterparties.

The rating is predicated upon final documentation in accordance
with Moody's current understanding of the transaction and final
debt sizing consistent with initially projected credit metrics.

The methodologies used in this rating were Global Midstream Energy
published in December 2010, and Generic Project Finance
Methodology published in December 2010.

Buffalo Gulf Coast Terminals LLC is a special-purpose holding
company set up by Alinda Capital Partners LLC to hold its 100%
ownership interest in Houston Fuel Oil Terminal Company. HFOTCO is
the largest provider of residual fuel and crude oil storage in the
Gulf Coast with approximatley 13.8 million barrels of tankage,
which will increase to about 16.8 million by December 2013.


BURGER KING: Bank Debt Trades at 4% Off in Secondary Market
-----------------------------------------------------------
Participations in a syndicated loan under which Burger King Corp.
is a borrower traded in the secondary market at 96.35 cents-on-
the-dollar during the week ended Friday, Sept. 16, 2011, an
increase of 0.85 percentage points from the previous week
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  The Company pays 325 basis points above
LIBOR to borrow under the facility.  The bank loan matures on Oct.
19, 2016, and carries Moody's Ba3 rating and Standard & Poor's BB-
rating.  The loan is one of the biggest gainers and losers among
104 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.

                         About Burger King

Burger King Corp., with headquarters in Miami, Fla., operates
1,344 and franchises 10,907 Burger King hamburger quick service
restaurants.  Annual revenues are about $2.4 billion, although
systemwide sales are over $14.0 billion.

As reported by Troubled Company Reporter on April 19, 2011,
Moody's assigned a 'Caa1' rating to Burger King Capital Holdings,
LLC's (Burger King Capital) proposed $400 million senior unsecured
discount notes due 2019.  In addition, Moody's affirmed Burger
King Corp.'s (BKC) 'B2' Corporate Family Rating (CFR) and
Probability of Default Rating (PDR) as well as its 'Ba3' senior
secured bank rating.  Moody's also revised the rating of BKC's
senior unsecured notes to 'B3' from 'Caa1'.  BKC is a wholly owned
indirect subsidiary of Burger King Capital.  The outlook was
changed to negative from stable.  Moody's ratings are subject to
review of final documentation.

"The change in outlook to negative reflects the deterioration in
credit metrics -- with leverage at over 7.0 times -- as a result
of higher debt levels associated with the proposed new debt
offering with proceeds used to fund either a special dividend or
acquisition", stated Bill Fahy Moody's Senior Analyst.  "The
outlook also considers the company's relatively weak operating
performance with negative same stores sales that will continue to
be pressured by soft consumer spending and high levels of
discounts and promotions by competitors.  As a result, the company
will have to rely more heavily on cost saving initiatives or
sustainably reducing debt above required amortization to
strengthen credit metrics that are more representative of a B2 CFR
over the next twelve months," stated Fahy.


BURLINGTON COAT: Bank Debt Trades at 4% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Burlington Coat
Factory Warehouse Corp. is a borrower traded in the secondary
market at 95.83 cents-on-the-dollar during the week ended Friday,
Sept. 16, 2011, an increase of 1.18 percentage points from the
previous week according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  The Company pays 475 basis
points above LIBOR to borrow under the facility.  The bank loan
matures on Feb. 18, 2017, and carries Moody's 'B3' rating and
Standard & Poor's 'B-' rating.  The loan is one of the biggest
gainers and losers among 104 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.

                      About Warehouse Corp.

Burlington Coat Factory Warehouse Corp. --
http://www.burlingtoncoatfactory.com/-- operates about 425 no-
frills retail stores offering off-price current, brand-name
clothing in about 45 states and Puerto Rico.  Although it is one
of the nation's largest coat sellers, the stores also sells
children's apparel, bath items, furniture, gifts, jewelry, linens,
and shoes.  Sister chains include a pair of higher-priced Cohoes
Fashions shops, about 15 MJM Designer Shoes stores, and a single
Super Baby Depot.  Founded in 1972, Burlington is owned by
affiliates of buyout firm Bain Capital.

                           *     *     *

Burlington carries a 'B3' corporate family rating and SGL-3
speculative grade liquidity rating from Moody's.  The rating
outlook is stable.


CALYPTE BIOMEDICAL: Reports $101,000 Net Income in March 31 Qtr.
----------------------------------------------------------------
Calypte Biomedical Corporation filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q reporting
net income of $101,000 on $263,000 of product sales for the three
months ended March 31, 2011, compared with a net loss of $567,000
on $133,000 of product sales for the same period during the prior
year.

The Company's balance sheet at March 31, 2011, showed
$2.39 million in total assets, $6.70 million in total liabilities,
and a $4.30 million total stockholders' deficit.

Odenberg, Ullakko, Muranishi & Co. LLP, in San Francisco,
California, expressed substantial doubt about Calypte Biomedical's
ability to continue as a going concern.  The independent auditors
noted that the Company has suffered recurring operating losses and
negative cash flows from operations, and management believes that
the Company's cash resources will not be sufficient to sustain its
operations through 2011 without additional financing.

"At Dec. 31, 2010, and 2009, we had working capital deficits of
$3.5 million and $16.6 million, respectively, the Company said in
the filing.  "As of Dec. 31, 2009, the $11.6 million outstanding
under our Credit Facility and Convertible Notes was under default.
Our cash on hand and existing sources of cash are insufficient to
fund our cash needs over the next twelve months under our current
capital structure."

The Company reported net income of $8.8 million on $444,000 of
product sales for 2010, compared with a net loss of $3.6 million
on $726,000 of product sales for 2009.

The Company recorded a gain on transfer of assets of $2.3 million
and a gain on restructuring of notes of $8.5 million in 2010,
absent in 2009.

                        Bankruptcy Warning

The Company does not have any long term agreement for capital
infusion at this point in time.  As the Company's cash flows from
its operating and investing activities are currently not adequate
to sustain its operations, if the Company is unable to raise
capital, the Company will likely be unable to continue its
operations.  Failure to obtain additional financing will likely
cause the Company to seek bankruptcy protection under Chapter 7 of
the U.S. Bankruptcy Code.

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

                        http://is.gd/9q2F9q

                      About Calypte Biomedical

Portland, Oregon-based Calypte Biomedical Corporation develops,
manufactures, and distributes in vitro diagnostic tests, primarily
for the diagnosis of Human Immunodeficiency Virus ("HIV")
infection.


CAPITOL BANCORP: Names Nicholas Hahn as Interim CFO
---------------------------------------------------
Capitol Bancorp Limited named Nicholas G. Hahn as interim chief
financial officer overseeing the finance and accounting functions.

"We are pleased to welcome Nick to our organization," said
Capitol's Chairman and CEO Joseph D. Reid.  "His financial
leadership, industry expertise and proven ability to assist
organizations in transition are significant assets for our team."

Reid also noted that Hahn has broad management experience in
strategic planning and focusing operational units on key business
drivers.  "Nick's ability to direct performance enhancement
initiatives will complement our ongoing comprehensive strategic
initiatives," he said.

Hahn's financial services background is substantial.  Since 2009,
he has been a financial and management consultant, and recently
interim chief financial officer to a national government
guaranteed lender.  Prior to that, he was chief financial officer
for a Belgian bank-owned mortgage origination and servicing
company based in New York, helping the company enter two new lines
of business and significantly grow its revenue and customer bases.
Hahn has also served as chief financial officer for a large
cooperatively owned private bank where he directed all finance and
accounting functions and as executive vice president of a publicly
traded mortgage bank where he coordinated all production
accounting and finance activities supporting four channels of
mortgage origination.

Since 1982 when he began his career, Hahn spent five years with
two of the Big Four accounting and auditing firms, and in various
management roles with financial services institutions, rising to
chief financial officer.  A CPA, he has a bachelor's degree in
commerce from DePaul University and a master's degree in business
administration from the University of Chicago.  Hahn is a member
of the American Institute of Certified Public Accountants, the
Illinois and Ohio CPA Societies and Financial Executives
International.

Pursuant to a verbal agreement, Mr. Hahn is to be paid a one-time
grant of 100,000 options to purchase common stock, a base salary
of $250,000 per year and a living allowance of $3,000 per month.
He will also have the potential to earn a discretionary bonus,
performance-based salary increases and the ability to participate
in employee incentive stock option grants.

                    About Capitol Bancorp Limited

Capitol Bancorp Limited (NYSE: CBC) --
http://www.capitolbancorp.com/-- is a $5.1 billion national
community banking company, with a network of bank operations in 16
states.  Founded in 1988, Capitol Bancorp Limited has executive
offices in Lansing, Michigan and Phoenix, Arizona.

The Company reported a net loss of $254.36 million on
$163.69 million of total interest income for the year ended
Dec. 31, 2010, compared with a net loss of $264.54 million on
$197.78 million of total interest income during the prior year.

The Company's balance sheet at June 30, 2011, showed $2.94 billion
in total assets, $3 billion in total liabilities, and a
$58.95 million total deficit.

In September 2009, Capitol and its second-tier bank holding
companies entered into a written agreement with the Federal
Reserve Bank of Chicago under which Capitol has agreed, among
other things, to submit to the Reserve Bank a written plan to
maintain sufficient capital at Capitol on a consolidated basis and
at Michigan Commerce Bank (as a separate legal entity on a stand-
alone basis); and a written plan to enhance the consolidated
organization's risk management practices, a strategic plan to
improve the consolidated organization's operating results and
overall condition and a cash flow projection.

Certain of Capitol's bank subsidiaries have entered into formal
agreements with their applicable regulatory agencies.  Those
agreements provide for certain restrictions and other guidelines
and/or limitations to be followed by the banks.

In 2009, Capitol commenced the deferral of interest payments on
its various trust-preferred securities, as is permitted under the
terms of the securities, to conserve cash and capital resources.
The payment of interest may be deferred for periods up to five
years.  During such deferral periods, Capitol is prohibited from
paying dividends on its common stock (subject to certain
exceptions) and is further restricted by Capitol's written
agreement with the Federal Reserve Bank of Chicago.  Accrued
interest payable on such securities approximated $18.1 million at
June 30, 2010.


CHINA CGAME: Posts $3.4 Million Net Loss in Second Quarter
----------------------------------------------------------
China CGame, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $3.4 million for the three months ended
June 30, 2011, compared with a net loss of $3.3 million for the
same period last year.

Contract revenues earned for the three months ended June 30, 2011,
and 2010, was $0 due to the classification of the projects
operations in Zhuhai as discontinued operations which was the only
source of contract revenues for the periods.

For the six months ended June 30, 2011, the Company had a net loss
of $8.1 million on $0 revenue, compared with a net loss of
$6.9 million on contract revenues earned of $5.6 million for the
corresponding period of 2010.

The Company's balance sheet at June 30, 2011, showed
$146.0 million in total assets, $114.2 million in total
liabilities, and stockholders' equity of $31.8 million.

As reported in the TCR on April 26, 2011, Samuel H. Wong & Co.,
LLP, in San Mateo, Calif., expressed substantial doubt about China
CGame's ability to continue as a going concern, following the
Company's 2010 results.  The independent auditors noted that the
Company incurred a net loss of $23.2 million in the current year.
"As of Dec. 31, 2010, the Company has an accumulated deficit of
$11.2 million due to the fact that the Company continued to incur
losses over the past few years.  The Company also has difficulty
to maintain sufficient working capital for operation activities."

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

                       http://is.gd/5CxvCP

Changzhou, China-based China CGame, Inc. (Nasdaq: CCGM) is a self-
developer of online games and provider of high-end building
envelope architectural systems.  Through its subsidiaries,
Changzhou ConnGame Network Ltd. and Shanghai ConnGame Network
Ltd., the Company leverages its game engines, development
platforms, and production teams to develop and operate Massively
Multiplayer Online Role Playing Games.

The Company has two games under development.  The first game,
"Revolution," will allow game players to travel between Western
and Eastern cultures, including adventures at historic locations
and turf wars.  The second game, "The Warring States," is a
historic military adventure game based on the well-known period in
ancient Chinese history of the same name.

The Company also provides design, engineering, fabrication and
installation services for high-end curtain wall systems, roofing
systems, steel construction systems, and eco-energy systems.


CHINA VILLAGE: Cathay Asks Court to Prohibit Use of Collateral
--------------------------------------------------------------
Cathay Bank has filed a motion with the U.S. Bankruptcy Court for
the Northern District of California to prohibit the use of China
Village LLC's cash collateral.

Cathay Bank, a secured creditor of China Village, holds a
"perfected first-priority lien" against the real property owned by
the Company, and any rents generated from the property.  It also
asserts a security interest in certain accounts recently
discovered by China Village.

The bank also asks the Court to order China Village to provide
adequate protection including replacement liens for its interest
in the accounts.

                      About China Village

Milpitas, California-based China Village, LLC, is a limited
liability company that was created on May 10, 2005.  The members
of the Debtor are Thomas Nguyen (8%), Joseph Nguyen (9%) and Tuyet
Minh Le (83%).  The Debtor is in the business of purchasing,
leasing, renovating and selling commercial real property.  The
Debtor currently owns a significant commercial property in
Fremont, California, that has 370,019 square feet of rentable
space on 25.07 acres of land.

China Village filed for Chapter 11 bankruptcy protection (Bankr.
N.D. Calif. Case No. 10-60373) on Oct. 4, 2010.  Lawrence A.
Jacobson, Esq., and Sean M. Jacobson, Esq., at Cohen and Jacobson,
LLP, assist the Debtor in its restructuring effort.  R&K
Interests, Inc. d/b/a Investors Property Services serves as the
Debtor's property manager.  The Debtor estimated assets and debts
at $10 million to $50 million as of the Petition Date.


CHINA VILLAGE: Sues Cathay, DOES to Invalidate Liens
----------------------------------------------------
China Village, LLC filed a complaint against Cathay Bank, a
California Banking Corporation, and DOES 1-25, inclusive, seeking:

   (a) a determination that the Defendants have no lien upon or
       interest in certain real property;

   (b) judgment quieting title in the Debtor free and clear of
       any and all liens or interests of the Defendants;

   (c) judgment avoiding and setting aside any and all liens or
       claims of the Defendants in or against the Real Property;

   (d) judgment determining that the Defendants are unsecured
       creditors in the bankruptcy case;

   (e) judgment for contempt damages according to proof at trial;

   (f) judgment for interest; and

   (g) judgment for costs of suit, including attorneys' fees.

According to the Debtor, it is ignorant of the true names and
capacities of DOES 1 through 25, inclusive, and therefore sues
those defendants by fictitious names.  The Debtor will amend the
Complaint to allege their true names and capacities when
ascertained.  The Debtor also believes that East West Bank is a
joint participant with Cathay Bank in the financing that is the
subject of this action, but that privity exists directly between
the Debtor and Cathay Bank, only, such that East West Bank's
participation in the financing exists pursuant to a separate
agreement with Cathay Bank.  To the extent that discovery reveals
otherwise, or reveals any facts that constitute actionable conduct
against East West Bank, the Debtor will amend the Complaint.

The Debtor owns certain commercial real property commonly known
as:

   (i) Parcel 32: 5950 - 6016 Stevenson Boulevard and 40451 -
       40495 Albrae Street;

  (ii) Parcel 34: 40525 Albrae Street; and

(iii) Parcel 35: 5960 Stevenson Boulevard and 40505 - 40545
       Albrae Street.

The Property consists of four separate buildings and has
approximately 370,019 square feet of rentable space on 25.07 acres
of land.

The Debtor acquired the Property in August 2005 for $23,000,000,
which was funded in part by financing provided by Cathay Bank,
pursuant to a joint participation agreement with East West Bank.
In connection with the financing, the Debtor provided a deed of
trust to Cathay Bank in the amount of $22,300,000.  The secured
financing was an "interest only" loan that called for a balloon
payment of the principal balance on Aug. 1, 2007, Lawrence A.
Jacobson, Esq., at Cohen and Jacobson, LLP, in Redwood City,
California, relates.

The Debtor and Cathay Bank subsequently extended the maturity date
to Feb. 16, 2008, pursuant to a modification agreement, dated Nov.
28, 2007.  On Mar. 11, 2008, the parties further extended the
maturity date to Jan. 5, 2009.

At the times relevant to the Complaint, the Debtor held four
pertinent bank accounts at Cathay Bank.  The Accounts, which have
an approximate collective balance of $656,630, do not contain
rents, and are not otherwise subject to any security interests of
Cathay Bank, according to Mr. Jacobson.

On July 18, 2011, pursuant to Section 542 of the Bankruptcy Code,
which requires the turnover of all property of the Debtor, and the
direction of the Office of the U.S. Trustee, which requires all of
the Debtor's funds to be held in a debtor-in-possession account,
one of the Debtor's representatives went to Cathay Bank in order
to transfer the funds of the Account to a DIP Account.

However, Cathay Bank refused to close any of the four Accounts and
turn over the funds to the Debtor for placement in the DIP Account
of otherwise.  Cathay Bank asserted that it was withholding the
Debtor's funds pursuant to "offset and/or other lien rights" and
has otherwise stated that the Bank elected to refuse to turn over
the funds as an exercise of possessory lien rights -- Election of
Remedy, Mr. Jacobson relates.

The Debtor demanded the turn over of funds, advising Cathay Bank
several times that it had "improperly seized and/or offset the
funds" and that the Bank was improperly denying the Debtor access
to its monies.  Cathay Bank continued to refuse to provide the
Debtor access to the funds based upon its assertion of "offset
and/or other lien rights" exercised against the Accounts.

On Aug. 8, 2011, Cathay Bank filed its motion to prohibit the use
of cash collateral and for adequate protection and an accompanying
ex parte application for order shortening time, by which the Bank
sought judicial approval of its actions by requesting that the
Court approve its lien on the Debtor's Accounts and preclude the
Debtor from spending the funds, which Cathay Bank had seized and
refused to turn over.

On Aug. 16, 2011, Cathay Bank, for the first time, admitted that
it had not actually turned over any funds to the Debtor as alleged
in the declaration of Greg Badura.  On Aug. 17, one month after
the Debtor had demanded turnover of its funds, counsel for Cathay
Bank advised the Debtor's counsel that the Debtor will be
receiving a cashier's check for two of its Accounts and that the
payment is "not a concession or acknowledgment of your position on
the matter," Mr. Jacobson relates.

On Aug. 18, the Debtor's counsel received a check payable to the
Debtor in the sum of $251,158, and another check in the sum of
$4,251, stating that two of the Accounts are closed.

"The delivery of the Cashier's Checks does not eradicate or alter
the historical acts committed by the Bank in making its Election
of Remedy, and does not nullify the consequences of the Election
of Remedy," Mr. Jacobson states.

Mr. Jacobson asserts that:

     * Any security interest claimed by Cathay Bank pursuant to
       the Deed of Trust, if any, has been waived by the
       Defendants' violation of the Security First Rule and as a
       result of the Election of Remedy.  The Defendants have
       waived any security interest in the Property, are
       precluded from enforcing any security interest in the
       Property, are not entitled to foreclose on the Property,
       are not secured creditors, and are not entitled to the
       benefit of the provisions of the Bankruptcy Code
       pertaining to use of cash collateral;

     * The Defendants have waived any alleged security interest
       and, therefore, holds no rights in, liens upon, or claims
       against the Property.  Accordingly, the Debtor is the
       rightful owner of the Property free and clear of any
       alleged or prior security interest of the Defendants.  The
       Debtor is entitled to judgment quieting title to the
       Property in its name and free of any interest claimed by
       the Defendants pursuant to the Deed of Trust or otherwise,
       subject to remaining junior liens as set forth in the
       Debtor's schedules, plan, and disclosure statement;

     * As a result of the violation of the Security First Rule
       and the Election of Remedy, the Defendants' claim is
       unsecured, and the Deed of Trust is ineffectual because
       the alleged security interest has been waived.  The Deed
       of Trust must be cancelled and expunged;

     * The Defendants' claim is unsecured and, therefore, the
       lien must be avoided pursuant to Section 544 of the
       Bankruptcy Code as being an ineffectual lien;

     * Because the Defendants' claim is unsecured, the purported
       lien is, therefore, void; and

     * Cathay Bank's acts were intentional and deliberate, and
       having been provided with the opportunity -- and demand --
       to reverse the actions, the Bank instead has ratified its
       acts, confirmed the assertion of offset and liens, and
       indeed has sought judicial approval of its acts by the
       filing of its Cash Collateral Motion.  The Debtor has been
       harmed by the violation of the automatic stay and has been
       caused to incur attorneys' fees and costs as a result of
       Cathay Bank's conduct.

                      About China Village

Milpitas, California-based China Village, LLC, is a limited
liability company that was created on May 10, 2005.  The members
of the Debtor are Thomas Nguyen (8%), Joseph Nguyen (9%) and Tuyet
Minh Le (83%).  The Debtor is in the business of purchasing,
leasing, renovating and selling commercial real property.  The
Debtor currently owns a significant commercial property in
Fremont, California, that has 370,019 square feet of rentable
space on 25.07 acres of land.

China Village filed for Chapter 11 bankruptcy protection (Bankr.
N.D. Calif. Case No. 10-60373) on Oct. 4, 2010.  Lawrence A.
Jacobson, Esq., and Sean M. Jacobson, Esq., at Cohen and Jacobson,
LLP, assist the Debtor in its restructuring effort.  R&K
Interests, Inc. d/b/a Investors Property Services serves as the
Debtor's property manager.  The Debtor estimated its assets and
debts at $10 million to $50 million as of the Petition Date.


CHINA VILLAGE: Cathay Bank Objects to Adequacy of Disclosures
-------------------------------------------------------------
Cathay Bank, the primary secured creditor in the Chapter 11 case
of China Village, LLC, objects to the adequacy of the modified
disclosure statement explaining the Debtor's modified Chapter 11
plan of reorganization.

In the Modified Disclosure Statement, filed Aug. 1, 2011, the
Debtor stated that it modified the disclosures to address its
recent discovery of certain bank accounts with a collective
balance of $656,630.  The Debtor asserts an interest in the
accounts.  The Debtor states that the modifications are primarily
the administration of the recently discovered cash balances,
including application of those funds for use in (a) making
interest payments to Cathay Bank, (b) making necessary repairs to
the Property, and (c) performing tenant improvements.

The Bank objects to the adequacy of the Modified Disclosure
Statement in that the Disclosure Statement does not contain
adequate information as defined by Section 1125(a)(1) of the
Bankruptcy Code.  Specifically, the Bank complains, the Modified
Disclosure Statement is inadequate in its statement and proposals
regarding the Accounts.

The Bank also asks the Court to extend the date by which it may
make the election under Section 1111(b).  Given the many
uncertainties in the Modified Plan and Disclosure Statement, the
deadline for the 1111(b) Election should be extended to and
including the day on which the hearing on the confirmation of any
plan of reorganization proposed by the Debtor actually commences.

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

                      About China Village

Milpitas, California-based China Village, LLC, is a limited
liability company that was created on May 10, 2005.  The members
of the Debtor are Thomas Nguyen (8%), Joseph Nguyen (9%) and Tuyet
Minh Le (83%).  The Debtor is in the business of purchasing,
leasing, renovating and selling commercial real property.  The
Debtor currently owns a significant commercial property in
Fremont, California, that has
370,019 square feet of rentable space on 25.07 acres of land.

China Village filed for Chapter 11 bankruptcy protection (Bankr.
N.D. Calif. Case No. 10-60373) on Oct. 4, 2010.  Lawrence A.
Jacobson, Esq., and Sean M. Jacobson, Esq., at Cohen and Jacobson,
LLP, assist the Debtor in its restructuring effort.  R&K
Interests, Inc. d/b/a Investors Property Services serves as the
Debtor's property manager.  The Debtor estimated its assets and
debts at $10 million to $50 million as of the Petition Date.


CKX INC: Moody's Withdraws 'B2' CFR as Loan Cancelled
-----------------------------------------------------
Moody's Investors Service withdrew the B2 Corporate Family Rating
(CFR), B2 Probability of Default Rating (PDR) previously assigned
to CKX Entertainment, Inc.  The B2 (LGD-4, 52%) rating on the
company's proposed $360 million Senior Secured Notes, and Ba2
(LGD-1, 2%) rating on the $35 million 1st Lien Senior Secured
Revolver were also withdrawn.  The ratings were withdrawn as the
company did not proceed with the debt transaction.

These ratings and outlook have been withdrawn:

Issuer: CKX Entertainment, Inc.

Corporate Family Rating, B2, Withdrawn

Probability of Default Rating, B2, Withdrawn

Speculative Grade Liquidity Rating - SGL-2, Withdrawn

$360 million Senior Secured Notes Due 2019, B2 (LGD-4, 52%),
Withdrawn

Issuer: CKX, Inc.

New $35 million 1st Lien Senior Secured Revolver Due 2016, Ba2
(LGD-1, 2%), Withdrawn

Stable outlook, Withdrawn

CKX's ratings were assigned by evaluating factors that Moody's
considers relevant to the credit profile of the issuer, such as
the company's (i) business risk and competitive position compared
with others within the industry; (ii) capital structure and
financial risk; (iii) projected performance over the near to
intermediate term; and (iv) management's track record and
tolerance for risk. Moody's compared these attributes against
other issuers both within and outside CKX's core industry and
believes CKX's ratings are comparable to those of other issuers
with similar credit risk. Other methodologies used include Loss
Given Default for Speculative-Grade Non-Financial Companies in the
U.S., Canada and EMEA published in June 2009.

CKX Entertainment, Inc. ("CKX"), with its headquarters in New
York, owns and develops entertainment content worldwide. It holds
rights to the name, image and likeness of Elvis Presley, Muhammad
Ali, operations of Graceland and proprietary rights to the IDOLS
television brand including the American Idol and So You Think You
Can Dance series. The company has three reporting segments: 19
Entertainment (75% of 2010 revenues), Elvis Presley Enterprises
(24%), and Muhammad Ali Enterprises (1%). For LTM through March
31, 2011 the company generated revenue of approximately $260
million.


CLAIRE'S STORES: Bank Debt Trades at 14% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which Claire's Stores,
Inc., is a borrower traded in the secondary market at 85.79 cents-
on-the-dollar during the week ended Friday, Sept. 16, 2011, an
increase of 0.67 percentage points from the previous week,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  The Company pays 275 basis points above
LIBOR to borrow under the facility.  The bank loan matures on
May 29, 2014, and carries Moody's B3 rating and Standard & Poor's
B rating.  The loan is one of the biggest gainers and losers among
104 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.

                       About Claire's Stores

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

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

                          *     *     *

Claire's Stores, Inc., reported a net loss of $29.74 million on
$704.99 million of net sales for the six months ended July 30,
2011, compared with a net loss of $20.64 million on
$656.31 million of net sales for the same period a year ago.

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

                           *     *     *

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

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

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

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


CLIVER DEVELOPMENT: Case Summary & 7 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Cliver Development, Inc.
        P.O. Box 333
        Edwards, CO 81632

Bankruptcy Case No.: 11-31857

Chapter 11 Petition Date: September 14, 2011

Court: U.S. Bankruptcy Court
       District of Colorado (Denver)

Judge: Howard R. Tallman

Debtor's Counsel: David Wadsworth, Esq.
                  SENDER & WASSERMAN, P.C.
                  1660 Lincoln Street, Suite 2200
                  Denver, CO 80264
                  Tel: (303) 296-1999
                  Fax: (303) 296-7600
                  E-mail: dvw@sendwass.com

                         - and -

                  Regina Ries, Esq.
                  SENDER & WASSERMAN, P.C.
                  1660 Lincoln Street, Suite 200
                  Denver, CO 80264
                  Tel: (303) 296-1999
                  E-mail: gries@sendwass.com

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

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

The petition was signed by Scott Cliver, president.

Debtor's List of seven Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Great Midwest Banks                Bank Loan            $4,579,095
15900 West Bluemound Road
Brookfield, WI 53005

Community Banks of Colorado        Bank Loan            $1,372,879
280 Main Street
Edwards, CO 81632

Concierge Auctions, LLC            --                     $650,000
126 E. 56th Street, 25th Floor
New York, NY 10022

LBX Financial Services             Equipment Loan          $62,509

Caterpillar Financial Services     Equipment Loan          $12,000
Corporation

Robert L. Patton, Jr.              --                           $0

Slifer Smith & Frampton Real Estate--                           $0


CN DRAGON: Posts $20,000 Net Loss in June 30 Quarter
----------------------------------------------------
CN Dragon Corporation filed its quarterly on Form 10-Q, reporting
a net loss of $20,096 on $26,820 of revenues for the three months
ended June 30, 2011, compared to net income of $24,523 on $363,524
of revenues for the same period ended June 30, 2010.

The Company's balance sheet as of June 30, 2011, showed
$1.7 million in total assets, $331,268 in total liabilities, all
current, and stockholders' equity of $1.4 million.

Albert Wong & Co., in Hong Kong, expressed substantial doubt about
CN Dragon Corporation's 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 not generated significant revenues since inception and has
never paid any dividends and is unlikely to pay dividends or
generate significant earnings in the immediate or foreseeable
future.  For the year ended March 31, 2011, the Company has
generated revenue of $451,710 and has incurred an accumulated
deficit $7,739,848.

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

                       http://is.gd/odTd33

                         About CN Dragon

Based in Hong Kong, China, CN Dragon Corporation was incorporated
under the laws of the State of Nevada on Aug. 30, 2001, under
the name Infotec Business Systems, Inc.  On June 8, 2007, the
Company changed its name to Wavelit, Inc.  On Sept. 14, 2009,
the Company changed its name to CN Dragon Corporation and began
new business operations in the PRC.  On May 17, 2010, the Company
acquired CNDC Corporation, as its wholly-owned subsidiary.

On May 17, 2010, pursuant to the terms of the Agreement for Share
Exchange, the Company acquired CNDC Corporation ("CNDC BVI"), and
its wholly-owned subsidiaries, CN Dragon Holdings Limited ("CN
Dragon Holdings") and Zhengzhou Dragon Business Limited
("Zhengzhou Dragon").

CNDC BVI was established under the laws of the British Virgin
Islands on March 26, 2008.  The Company currently operates through
itself and two subsidiaries, CN Dragon Holdings Limited and
Zhengzhou Dragon Business Limited which were incorporated in Hong
Kong and the People's Republic of China (the PRC) respectively.

The Company and its subsidiaries are engaged and specialized in
investment, development and fund management in hospitality
properties, as well as advisory and consulting services to the
hospitality, tourism and real estate industries in the PRC.


CONSOLIDATION SERVICES: Posts $721,000 Net Loss in Second Quarter
-----------------------------------------------------------------
Consolidation Services, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $721,031 on $78,627 of oil and gas
for the three months ended June 30, 2011, compared with a net loss
of $1.6 million on $66,976 of oil and gas revenues for the same
period last year.

For the six months ended June 30, 2011, the Company had a net loss
of $832,943 on $165,127 of oil and gas revenues, compared with a
net loss of $1.7 million on $66,976 of oil and gas revenues for
the same period in 2010.

The Company's balance sheet at June 30, 2011, showed $5.2 million
in total assets, $322,506 in total liabilities, and stockholders'
equity of $4.9 million.

GBH CPAs, PC, in Houston, Texas, expressed substantial doubt about
Consolidation Services' ability to continue as a going concern,
following the Company's 2010 results.  The independent auditors
noted that the Company sustained losses from operations for the
year ended Dec. 31, 2010, of $13.2 million, has inadequate working
capital to maintain or develop its operations, and is dependent
upon funds from lenders, investors and the support of certain
stockholders.

A complete text of the Form 10-Q is available at:

                       http://is.gd/Tdrabe

Las Vegas, Nev.-based Consolidation Services, Inc., was
incorporated in the State of Delaware on Jan. 26, 2007.  The
Company is engaged in the exploration and development of oil and
gas properties in Kentucky and Tennessee.


CRESTVIEW OPEN: Case Summary & 15 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Crestview Open MRI, Inc.
        194 East Redstone Avenue, Suite A
        Crestview, FL 32539

Bankruptcy Case No.: 11-31526

Chapter 11 Petition Date: September 14, 2011

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

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

Scheduled Assets: $315,097

Scheduled Debts: $1,479,276

A list of the Company's 15 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/flnb11-31526.pdf

The petition was signed by Sue Cadnehead, president.


H & A: Case Summary & Largest Unsecured Creditor
------------------------------------------------
Debtor: H & A Tujunga Property LLC
        7001 Foothill Boulevard
        Tujunga, CA 91042

Bankruptcy Case No.: 11-48875

Chapter 11 Petition Date: September 13, 2011

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

Judge: Sheri Bluebond

Debtor's Counsel: Vakhe Khodzhayan, Esq.
                  KG LAW
                  1010 N. Central Avenue, Suite 450
                  Glendale, CA 91202
                  Tel: (818) 245-1340
                  Fax: (818) 245-1341
                  E-mail: vahe@lawyer.com

Scheduled Assets: $950,000

Scheduled Debts: $1,195,000

The petition was signed by Akop Dzhulakyan, president.

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Akop Dzhulekyan                       11-46751            08/29/11

The list of unsecured creditors filed together with its petition
contains only one entry:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Lone Oak Fund, LLC                 Property               $295,000
11611 San Vicente Boulevard, Suite 640
Los Angeles, CA 90049


CUMULUS MEDIA: FDIC Approves Pending Merger with Citadel
--------------------------------------------------------
Cumulus Media Inc. and Citadel Broadcasting Corporation announced
that the Federal Communications Commission has approved the
pending merger of a wholly owned indirect subsidiary of Cumulus
Media and Citadel.  With this approval and the previously
announced termination of the waiting period under the Hart-Scott-
Rodino Antitrust Improvements Act of 1976, Cumulus Media and
Citadel have now received all required regulatory approvals in
connection with the Merger.  As previously disclosed, in
connection with the termination of the waiting period under the
HSR Act, Cumulus Media will divest three radio stations in two
markets - Flint, Michigan and Harrisburg, Pennsylvania.  The
Merger remains subject to approval by the stockholders of Citadel,
as well as other customary closing conditions.

Also as previously disclosed, Citadel's special meeting of
stockholders to approve the Merger will be held on Thursday,
Sept. 15, 2011, and the deadline for Citadel's stockholders to
make an election with respect to the consideration they wish to
receive in the Merger is 5:00 p.m., New York City time, also on
Sept. 15, 2011.

                        About Cumulus Media

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

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

                          *     *     *

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

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


CYBERDEFENDER CORP: Posts $6.6 Million Net Loss in Second Quarter
-----------------------------------------------------------------
CyberDefender Corporation filed its quarterly report on Form 10-Q,
reporting a net loss of $6.6 million on $12.7 million of revenues
for the three months ended June 30, 2011, compared with a net loss
of $12.0 million on $9.7 million of revenues for the same period
last year.

For the six months ended June 30, 2011, the Company had a net loss
of $12.6 million on $28.1 million of revenues, compared with a net
loss of $20.3 million on $19.2 million of revenues for the same
period of 2010.

The Company's balance sheet at June 30, 2011, showed $7.9 million
in total assets, $40.6 million in total liabilities, and a
stockholders' deficit of $32.7 million.

The Company has experienced operating losses for the last five
fiscal years.  Management has implemented plans to continue to
build its revenue base, expand sales and marketing and improve
operations, however, through June 30, 2011, the Company continued
to operate at negative cash flow.

As of June 30, 2011, and Dec. 31, 2010, the Company had an
accumulated deficit in retained earnings of $97.1 million and
$84.5 million, respectively.

Subsequent to the close of the second quarter, the Company closed
a $1.5 million private offering of subordinated convertible
promissory notes to accredited investors.  The Company believes,
but cannot ensure, that the $1.5 million will be sufficient to
permit the Company to continue to operate until it can secure the
additional financing during the next 60 days that it requires to
continue to operate as a going concern.

"However, if the efforts noted above are not successful, it would
raise substantial doubt about the Company's ability to continue as
a going concern," the Company said in the filing.

                     May Consider Bankruptcy

"We are presently engaged in active discussions for additional
investments by existing and prospective investors but we have no
funding commitments in place at this time and we can give no
assurance that such capital will be available on favorable terms,
or at all.  If we cannot obtain financing, then we may be forced
to further curtail our operations, or possibly be forced to
evaluate a sale or consider other strategic alternatives such as
bankruptcy."

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

                       http://is.gd/58iYPk

Los Angeles, Calif.-based CyberDefender Corporation is a provider
of remote LiveTech services and security and computer optimization
software and to the consumer and small business market.  The
Company's mission is to bring to market advanced solutions to
protect computer users against Internet viruses, spyware, identity
theft and related security threats.


DAIS ANALYTIC: Has New Three-Year Contract with CEO
---------------------------------------------------
Dais Analytic Corporation entered into an amended and restated
employment agreement with Mr. Timothy N. Tangredi, the Company's
president, chief executive officer, and director, dated as of
Sept. 14, 2011, which sets forth Mr. Tangredi's compensation level
and eligibility for salary increases, bonuses, benefits, and
option grants.  Mr. Tangredi's employment agreement provides for
an initial term of three years commencing on Sept. 14, 2011, with
the term extending on the second anniversary thereof for an
additional two-year period and on each subsequent anniversary of
the commencement date for an additional year period.  Under the
agreement Mr. Tangredi's initial base salary is $200,000.  Mr.
Tangredi's base salary will be increased annually, if applicable,
by a sum  equal to his current base salary multiplied by one
third of the percentage increase in the Company's yearly revenue
compared to the Company's prior fiscal year revenue; provided
however any annual increase in Mr. Tangredi's base salary will not
exceed a maximum of 50% for any given year.  Any further increase
in Mr. Tangredi's base salary will be at the sole discretion of
the Company's board of directors or compensation committee.
Additionally, at the discretion of the Company's board of
directors and its compensation committee, Mr. Tangredi may be
eligible for an annual bonus of up to 100% of his then-effective
base salary, if he meets or exceeds certain annual performance
goals established by the board of directors.  In addition to this
bonus, Mr. Tangredi may be eligible for a separate merit bonus if
approved by the board of directors, for specific extraordinary
events or achievements such as a sale of a division, major license
or distribution arrangement or merger.  Mr. Tangredi is entitled
to medical, disability and life insurance, as well as four weeks
of paid vacation annually, an automobile allowance, reimbursement
of all reasonable business expenses, automobile insurance and
maintenance, and executive conference or educational expenses.

A full-text copy of the Amended and Restated Employment Agreement
is available for free at http://is.gd/C6HASo

                        About Dais Analytic

Odessa, Fla.-based Dais Analytic Corporation has developed and
patented a nano-structure polymer technology, which is being
commercialized in products based on the functionality of these
materials.  The initial product focus of the Company is ConsERV,
an energy recovery ventilator.  The Company also has new product
applications in various developmental stages.

The Company reported a net loss of $1.43 million on $3.34 million
of revenue for the year ended Dec. 31, 2010, compared with a net
loss of $7.12 million on $1.53 million of revenue during the prior
year.

The Company's balance sheet at June 30, 2011, showed $2.97 million
in total assets, $9.29 million in total liabilities and a $6.32
million total stockholders' deficit.

Cross, Fernandez & Riley LLP, in Orlando, Fla., expressed
substantial doubt about the Company's ability to continue as a
going concern, following the Company's 2010 financial results.
The independent auditors noted that the Company has incurred
significant losses since inception and has a working capital
deficit and stockholders' deficit of $2,861,448 and $6,722,092 at
Dec. 31, 2010.


DBSD NORTH AMERICA: Sprint Seeks $110 Million Reimbursement
-----------------------------------------------------------
Kaitlin Ugolik at Bankruptcy Law360 reports that Sprint Nextel
Corp. on Wednesday asked a New York bankruptcy judge to require
DBSD North America Inc. to reimburse the telecom giant for its
$110 million share of the costs of clearing the spectrum to make
room for DBSD and other mobile satellite services.

                   About DBSD North America

Headquartered in Reston, Virginia, DBSD North America Inc., aka
ICO Member Services Inc., offers satellite communications
services.  It has launched a satellite, but is in the
developmental stages of creating a satellite system with
components in space and on earth.  It presently has no revenues.

The Company and nine of its affiliates filed for Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 09-13061) on May 15,
2009.  James H.M. Sprayregen, Esq., and Christopher J. Marcus,
Esq., at Kirkland & Ellis LLP, in New York; and Marc J. Carmel,
Esq., and Sienna R. Singer, Esq., at Kirkland & Ellis LLP, in
Chicago, serve as the Debtors' counsel.  Jefferies & Company is
the financial advisors to the Debtors.  The Garden City Group Inc.
is the claims agent for the Debtors.  DBSD estimated assets and
debts of $500 million to $1 billion in its Chapter 11 petition.

Timothy A. Barnes, Esq., and Steven J. Reisman, Esq., at Curtis,
Mallet-Prevost, Colt & Mosle LLP, in New York, represent the
Official Committee of Unsecured Creditors.

The ad hoc committee of certain parties that hold or manage
holdings of those certain 7.5% Convertible Senior Secured Notes
due 2009 issued by DBSD is represented by Dennis F. Dunne, Esq.,
Risa M. Rosenberg, Esq., and Jeremy S. Sussman, Esq., at Milbank,
Tweed, Hadley & McCloy LLP, in New York; and Andrew M. Leblanc,
Esq., at Milbank, Tweed, Hadley & McCloy LLP, in Washington, DC.

Sprint Nextel is represented by Eric Moser, Esq., at K&L Gates
LLP, in New York; and John H. Culver III, Esq., and Felton E.
Parrish, Esq., at K&L Gates LLP, in Charlotte, North Carolina.

DISH is represented in the case by J. Eric Ivester, Esq., at
Skadden Arps Slate Meagher & Flom LLP, in New York.


DENNY'S CORP: Board Appoints George Haywood as Director
-------------------------------------------------------
The Board of Directors of Denny's Corporation appointed George W.
Haywood to serve as a director of the Company.  Mr. Haywood will
be paid the same rate of compensation as the Company's other non-
employee directors, which includes cash payments of $75,000 per
year, payable in quarterly installments of $18,750, and an annual
award of deferred stock units, valued at $75,000.  Mr. Haywood
will receive a pro-rata portion of these cash and equity awards
granted to directors for the remaining 2011/2012 board term.
There are no arrangements between Mr. Haywood and any other person
pursuant to which Mr. Haywood was selected as a director, nor are
there any transactions to which the Company or any subsidiary
thereof is a party and in which Mr. Haywood has a material
interest subject to disclosure under Item 404(a) of Regulation S-
K. Mr. Haywood will serve on the Audit and Finance Committee of
the Board.

                     About Denny's Corporation

Based in Spartanburg, South Carolina, Denny's Corporation (NASDAQ:
DENN) -- http://www.dennys.com/-- Denny's is one of America's
largest full-service family restaurant chains, consisting of 1,348
franchised and licensed units and 232 company-owned units, with
operations in the United States, Canada, Costa Rica, Guam, Mexico,
New Zealand and Puerto Rico.

The Company's balance sheet at June 29, 2011, showed
$286.66 million in total assets, $386.94 million in total
liabilities, and a $99.52 million total shareholders' deficit.

Denny's carries 'B2' corporate family and probability of default
ratings from Moody's Investors Service and a 'B+' corporate credit
rating from Standard & Poor's.


DENNY'S CORP: S&P Affirms B+ Corp. Credit Rating; Outlook Stable
----------------------------------------------------------------
Standard & Poor's Ratings Services revised the recovery rating on
Denny's Inc.'s $300 million credit facility to '3' from '4',
indicating the expectation for meaningful (50%-70%) recovery in
the event of a payment default. The recovery rating revision
reflects the company's progress in debt reduction, which results
in better recovery prospects for lenders in the event of a payment
default.

"At the same time, we affirmed our 'B+' corporate credit rating on
parent Denny's Corp. The outlook is stable," S&P said.

"The ratings on Denny's reflect our expectation that its credit
metrics will remain adequate for the current rating as the company
continues to pay down debt and benefits from its refranchising
program," said Standard & Poor's credit analyst Mariola Borysiak.

"We assess the company's financial risk profile as aggressive,"
she added, "though it continues to strengthen its balance sheet,
having repaid about $20 million of debt during the first two
quarters of fiscal 2011." "However, we anticipate that a difficult
operating environment, still-high unemployment, and increasing
commodity costs will weigh on profitability for the remainder
of 2011. As such, we expect only modest improvement of credit
measures, with leverage remaining close to the current 4.5x. In
addition, we expect EBITDA interest coverage to improve to the
high-2x area, from the current 2.4x at June 29, 2011, as a result
of lower interest expense following the re-pricing of the credit
facility in March 2011 and lower debt balances. These ratios are
somewhat better than medians for the 'B' category."


DLH MASTER: Committee Announces Departure of Barrier Officer
------------------------------------------------------------
The Official Committee of Unsecured Creditors advised the U.S.
Bankruptcy Court for the Northern District of Texas that Jeffrey
Jones, former managing director of Barrier Advisors Inc., is now
employed by Security Holdings.

Barrier Advisors serves as financial advisor of the Committee.

Prior to his departure from Barrier Advisors, Mr. Jones prepared a
written expert report regarding an analysis of market interest
rates in anticipation of the hearing on the confirmation of DLH
Master Land Holding LLC and Allen Capital Partners LLC's
reorganization plan.

Although no longer employed by Barrier Advisors, Mr. Jones will
make himself available to testify at the confirmation hearing,
according to the Committee.

Barrier Advisors will seek payment from the Debtors' estates for
professional time incurred by Mr. Jones.  Mr. Jones will be
compensated directly by Barrier Advisors pursuant to a separate
agreement he entered with the firm.

Security Holdings does not hold or represent interest adverse to
the Debtors' estates with respect to the matters upon which Mr.
Jones is to provide professional services, according to the
Committee's Texas-based counsel, Cole, Schotz, Meisel, Forman &
Leonard P.A.

                        About Allen Capital

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

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

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

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

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

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

An Official Committee of Unsecured Creditors has been appointed.


DOT VN: Delays Filing of July 31 Form 10-Q
------------------------------------------
Dot VN, Inc., was unable to file its Form 10-Q for the period
ending July 31, 2011, within the prescribed period, because during
its final review of such period's results, it was determined that
a convertible debenture may contain an embedded derivative
instrument subject Financial Accounting Standards Board Accounting
Standards Codification Topic 815.  This matter could not be
resolved by the required filing date without unreasonable effort
and expense.

                           About Dot VN

Dot VN, Inc. (OTC BB: DTVI) -- http://www.DotVN.com/-- provides
Internet and telecommunication services for Vietnam and operates
and manages Vietnam's innovative online media web property,
www.INFO.VN.  The Company is the "exclusive online global domain
name registrar for .VN (Vietnam)."  Dot VN is the sole distributor
of Micro-Modular Data Centers(TM) solutions and E-Link 1000EXR
Wireless Gigabit Radios to Vietnam and Southeast Asia region.  Dot
VN is headquartered in San Diego, California with offices in
Hanoi, Danang and Ho Chi Minh City, Vietnam.

Dot VN was incorporated in the State of Delaware on May 27, 1998,
under the name Trincomali Ltd.

The Company reported a net loss of $5 million on $1.01 million of
revenue for the year ended April 30, 2011, compared with a net
loss of $7.32 million on $1.12 million of revenue during the prior
year.

The Company's balance sheet at April 30, 2011, showed
$2.76 million in total assets, $8.77 million in total liabilities,
and a $6.01 million total shareholders' deficit.

PLS CPA, in San Diego, Calif., noted that the Company's losses
from operations raise substantial doubt about its ability to
continue as a going concern.


EAST HARLEM: Case Summary & 5 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: East Harlem Property Holdings, LP
        229 Linwood Avenue
        Cedarhurst, NY 11516

Bankruptcy Case No.: 11-14368

Chapter 11 Petition Date: September 15, 2011

Court: U.S. Bankruptcy Court
       Southern District of New York (Manhattan)

Judge: James M. Peck

Debtor's Counsel: Adam P. Wofse, Esq.
                  LAMONICA HERBST & MANISCALCO, LLP
                  3305 Jerusalem Avenue, Suite 201
                  Wantagh, NY 11793
                  Tel: (516) 826-6500
                  Fax: (516) 826-0222
                  E-mail: awofse@lhmlawfirm.com

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

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

The petition was signed by Linda Greenfield, vice president of
Harlem Housing, LLC, sole and managing member of East Harlem GP,
LLC, general partner.

Debtor's List of five Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Philips International Holding Corp.--                     $190,000
295 Madison Avenue, 2nd Floor
New York, NY 10017

June Diamant                       --                      $14,589
229 Linwood Avenue
Cedarhurst, NY 11516

Margolin, Winer & Evens LLP        --                      $13,125
400 Garden City Plaza
Garden City, NY 11530

Corporation Service Company        --                       $6,483

Robyn Tuerk                        --                       $5,000


EL PASO PIPELINE: S&P Gives 'BB' to $500-Mil. Sr. Unsec. Notes
--------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB' senior
unsecured debt rating to operating company El Paso Pipeline
Partners Operating Co. LLC's $500 million senior unsecured notes
due 2021. "We placed the rating on CreditWatch with positive
implications. At the same time, we assigned a recovery rating of
'4', indicating our expectation that creditors can expect average
(30% to 50%) recovery if a payment default occurs. El Paso
Pipeline Partners L.P. fully and unconditionally guarantees the
notes. The partnership intends to use the net proceeds from the
offering to reduce outstanding borrowings under its revolving
credit facility and for general partnership purposes," S&P
related.

"Our 'BB' long-term corporate credit rating on El Paso Pipeline
Partners L.P. is tied to our rating on El Paso Corp. The ratings
are on CreditWatch with positive implications. (For the corporate
credit rating rationale, see our summary analysis on El Paso
Pipeline Partners L.P. published July 12, 2011 on
RatingsDirect.)," S&P said

Ratings List
New Ratings

El Paso Pipeline Partners Operating Co. LLC
$500 mil senior unsecured notes due 2021        BB/Watch Pos
  Recovery rating                               4


ENDURANCE INT'L: Moody's Assigns 'B2' CFR; Outlook Stable
---------------------------------------------------------
Moody's Investors Service assigned to The Endurance International
Group, Inc. a first-time B2 Corporate Family Rating (CFR), a B3
Probability of Default Rating (PDR), and a B2 rating to its
proposed $340 million of first lien credit facilities comprising a
$35 million revolving credit facility and a $305 million term
loan. The outlook for the ratings is stable.

RATINGS RATIONALE

The B2 CFR reflects Endurance's limited scale in the highly
competitive web-hosting and online business services industry. The
industry is characterized by low average revenues per customer,
relatively few barriers to entry, modest pricing power and a
fragmented and evolving market in which a strong competitor (Go
Daddy, CFR B1) has a leading market share. The rating is
additionally constrained by the company's historically debt-funded
acquisitive growth strategy and the potential for increase in debt
to drive shareholder returns in the intermediate-to-long term.

In Moody's opinion, Endurance should continue to benefit from the
secular growth in spending by small- and medium-sized enterprises
to establish and enhance their presence on the Internet and
growing consumer Internet usage. Endurance's B2 rating is
supported by its moderate financial risk profile (about 3.5x Total
Debt/Cash flow from operations plus interest expense, pro forma
for the proposed refinancing and full year effect of acquisitions)
relative to its B2 rating, the company's track record of
integrating numerous acquisitions, and Moody's expectations that
Endurance should produce cash flow from operations in excess of
$80 million in 2012. Although Endurance has historically generated
very modest levels of earnings and operating cash flows, the
company expects its cash flows to grow strongly in the near term,
primarily as a result of the five acquisitions consummated since
the beginning of 2010. While Moody's expects Endurance to achieve
the pending synergies from its acquisitions, the rating
incorporates Endurance's heightened execution risk of maintaining
organic growth and realizing anticipated cash flows while
undergoing a rapid expansion in scale.

The stable outlook is based on Moody's expectations that Endurance
will produce cash flow from operations in excess of 20% of its
total debt over the next 12 to 18 months, its gross subscriber
addition rates will remain strong, and that it will maintain
stable monthly subscriber churn rates of about 2%.

Given Endurance's limited operating scale and expected levels of
earnings, a rating upgrade is less likely in the near term.
However, upward rating momentum could develop if Endurance's
sustained growth in profitability leads to robust operating cash
flow generation and the company maintains a conservatively
leveraged balance sheet such that cash flow from operations
exceeds 25% of total debt.

Conversely, the rating could be downgraded if EBITDA margins
deteriorate or cash generation falls short of expectations as a
result of increasing competition, erosion in customer base,
weaker-than-expected organic growth, or challenges in business
execution. Additionally, a weaker credit profile resulting from
aggressive financial policies could trigger a downgrade. Moody's
could downgrade Endurance's rating if growth in cash flow from
operation does not materialize and cash flow from operations/total
debt ratio approaches 15%.

Endurance's financial sponsors will use the net proceeds from the
term loan offering to refinance the company's existing
indebtedness and for general corporate purposes.

Assignments:

   Issuer: Endurance International Group, Inc. (The)

   -- Corporate Family Rating, Assigned B2

   -- Probability of Default Rating, Assigned B3

   -- $35 million Senior secured revolving credit facility due
      2016, Assigned B2, LGD3, 35%

   -- $305 million Senior secured term loan due 2017, Assigned B2,
      LGD3, 35%

Outlook Action

   Outlook: Stable

The principal methodology used in rating Endurance was the Global
Business & Consumer Service Industry Rating Methodology published
in October 2010. Other methodologies used include Loss Given
Default for Speculative-Grade Non-Financial Companies in the U.S.,
Canada and EMEA published in June 2009.

Headquartered in Burlington, MA, Endurance provides an array of
online services primarily to small and medium-sized businesses.


EPICEPT CORP: Moves Listing from Nasdaq to OTCQX
------------------------------------------------
EpiCept Corporation, on Sept. 15, 2011, notified Nasdaq that it
will be transferring the listing of its common stock in the U.S.
from the Nasdaq Capital Market to the OTCQX U.S. trading platform
effective Sept. 19, 2011.  This action was approved by the
Company's Board of Directors on Sept. 9, 2011.  EpiCept will
maintain its primary listing on the Nasdaq OMX Stockholm Exchange.
The Company's ticker symbol on OTCQX will remain "EPCT".

                    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 ENERGY: Completes Penrhyn Coal Testing Using K-Fuel
-------------------------------------------------------------
Evergreen Energy Inc. announced that it had successfully completed
its Penrhyn coal testing utilizing Evergreen's patented K-Fuel
upgrading process.

The Penrhyn coal deposit is located in South Australia and a
drilling to date has confirmed a JORC compliant measured and
indicated resource of 352.4 million metric tons of coal with an
additional exploration target of a further 300 to 330 million
metric tons of coal.  The Penrhyn coal deposit is owned by
Southern Coal Holdings, a joint venture between WPG Resources
Limited and Evergreen.

On Aug. 23, 2011, Evergreen announced that it had upgraded Penrhyn
coal to K-Fuel with heating values greater than 5,500 kcal/kg
prior to the rehydration necessary for shipping and storage.
Further testing has now provided a more comprehensive view of the
product quality from the Penrhyn deposit.

"We are particularly pleased with the K-Fuel process and our
ability to upgrade the Penrhyn coal to an export grade fuel
product with a heating value that is shippable of at least 5,000
kcal/kg.  This represents an increase of approximately 25% to 40%
over the unprocessed coal.  Additionally, the K-Fuel process has
reduced sodium by up to  50%, and chloride by up to  70% in the
final product," said Ilyas Khan, Evergreen's Chairman.

"These testing results are a milestone for the WPG and Evergreen
stakeholders, as well as the clean coal industry.  Our completed
testing confirms that a latent sub-bituminous coal deposit in
Penrhyn can be upgraded to thermal coal quality.  Our results are
in-line or in excess of expectations and continue to demonstrate
the potential for the K-Fuel process to add value to low rank coal
resources around the world.  Our team will continue working to
further enhance the value of the K-Fuel process.   In parallel, we
are working towards completing pre-feasibility studies for mine
and K-Fuel plant developments for the Penrhyn and Lochiel North
coal deposits."

Wayne Rossiter, CEO of SCH commented "[T]hese testing results are
an important milestone in underpinning our business model for the
development of a low ranking coal beneficiation business in
Australia using the proven K-Fuel process."

                       About Evergreen Energy

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

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

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

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


EVERGREEN SOLAR: Sues Unsecured Bondholders to Reclaim $4MM
-----------------------------------------------------------
Dow Jones' DBR Small Cap reports that Evergreen Solar Inc. is
suing unsecured bondholders to reclaim $4 million in interest
payments it handed out five days before filing for Chapter 11
bankruptcy protection.

                       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.


FOSTER CONDOMINIUM: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: Foster Condominium Corp.
        2911 North Cicero Avenue
        Chicago, IL 60641

Bankruptcy Case No.: 11-37196

Chapter 11 Petition Date: September 13, 2011

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

Judge: Jack B. Schmetterer

Debtor's Counsel: Bruce E de'Medici, Esq.
                  BELONGIA, SHAPIRO & FRANKLIN, LLP
                  20 S. Clark Street, Suite 300
                  Chicago, IL 60603
                  Tel: (312) 662-1030
                  Fax: (312) 662-1040
                  E-mail: bdemedici@belongialaw.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 Robert J. Ralis, president.


FULL CIRCLE: Can Access $1.25 Million DIP Facility to Buy Cows
--------------------------------------------------------------
Judge Jerry A. Funk of the U.S. Bankruptcy Court for the Middle
District of Florida has authorized Full Circle Dairy, LLC, to
obtain secured credit of up to $1,250,000 from Damascus Peanut
Company for the purchase of approximately 750 additional producing
dairy cows over a four-month period.  The Debtor says that
purchase will generate additional cash flow for the payment of the
Debtor's continued operations and the payments to its creditors
under a Plan of Reorganization.

As reported in the Troubled Company Reporter on July 11, 2011,
interest on the loan will be 10% p.a. payable monthly and the
balance of the loan will mature on the earliest of: (a) 48 months
from date of execution, (b) the Effective Date of the Debtor's
Plan of Reorganization, and (c) the occurrence of an event of
default.

Damascus will be secured by a priming lien ahead of SunTrust's
liens on all new cattle purchased with the proceeds of the Loan
Facility, their offspring, and all proceeds thereof; and a first-
priority, priming lien on all property of the Debtor or its
estate, other than real estate owned by the Debtor, including all
cattle currently owned by FCD, and their offspring; (b) all milk
inventories; (c) all milk and feed receivables; (d) all cash
generated from those receivables; (e) all feed inventories and
feed supplies and (f) the products and proceeds of those
collateral accounts whether now or hereinafter acquired as a
result of operations.

The Debtor believes that the additional herd expansion will allow
it
to significantly increase its financial position and confirm a
Chapter 11 Plan, and will cause a similar strengthening of
SunTrust's collateral position.

As of the Petition Date, substantially all of the Debtor's
property used in the operation of its business was subject to a
pre-petition security interest owned by SunTrust, securing three
separate but related credit facilities; a real estate loan, a
revolving working capital loan, and a livestock loan.

                     About Full Circle Dairy

Full Circle Dairy, LLC, operates a dairy in Lee, Florida.  It
filed for Chapter 11 bankruptcy protection (Bankr. M.D. Fla. Case
No. 10-06895) on Aug. 9, 2010.  Robert D Wilcox, Esq., at Brennan,
Manna & Diamond, PL, in Jacksonville, Fla., represents the Debtor.
The official committee of unsecured creditors in the Chapter 11
case has tapped John T. Rogerson, III, Esq., at Volpe, Bajalia,
Wickes, Rogerson & Wachs, P.A., in Jacksonville, Fla., as counsel.

The Company disclosed $14,281,637 in assets and $12,879,703 in
liabilities as of the Petition Date.


FULL CIRCLE: Motion to Buy $900,000 in Livestock Denied
-------------------------------------------------------
The Hon. Jerry A. Funk has denied as to the issues remaining on
Full Circle Dairy, LLC's motion for entry of an order to purchase
on the open market $900,000 worth of milk cows.

The Debtor will release to Sun Trust Bank $100,000 of proceeds
remaining from the Debtor's assumption and modification of its
option and lease agreement with Damascus Peanut Company which
funds will be applied to the principal balance due on the
SunTrust Cattle Note.

The Debtor is attempting to build up its livestock inventory to
a satisfactory level.  It currently has 2,050 cows, of which
approximately 1,712 are in full production, while its facility
is designed to accommodate over 3,000 cows.

The Debtor will use the available cash to purchase cows, at the
current market price of approximately $1,500 per milk cow.  The
purchase of the approximately 600 cows will add at least
$1.2 million to the Debtor's net annual revenue.

                     About Full Circle Dairy

Full Circle Dairy, LLC, operates a dairy in Lee, Florida.  It
filed for Chapter 11 bankruptcy protection (Bankr. M.D. Fla. Case
No. 10-06895) on Aug. 9, 2010.  Robert D Wilcox, Esq., at Brennan,
Manna & Diamond, PL, in Jacksonville, Fla., represents the Debtor.
The official committee of unsecured creditors in the Chapter 11
case has tapped John T. Rogerson, III, Esq., at Volpe, Bajalia,
Wickes, Rogerson & Wachs, P.A., in Jacksonville, Fla., as counsel.

The Company disclosed $14,281,637 in assets and $12,879,703 in
liabilities as of the Petition Date.


GAMETECH INT'L: Delays Filing of Quarterly Report on Form 10-Q
--------------------------------------------------------------
GameTech International, Inc., was unable to file its Form 10-Q for
the 13-week period ended July 31, 2011, within the prescribed time
period without unreasonable effort and expense, due to the efforts
required to complete an annual interim review of the valuation of
its goodwill, long-lived assets, and intangible assets pursuant to
ASC 350 - "Intangibles-Goodwill and Other" and ASC 360 -
"Property, Plant, and Equipment".  While the Company is not
expected to record a significant impairment charge to its
goodwill, long-lived assets, or intangible assets within the
thirteen weeks ended July 31, 2011, the Company requires
additional time to file the Report to appropriately complete its
assessment and review of the valuation of its goodwill, long-lived
assets, and intangible assets.  The Company hopes to complete this
analysis and file the Report no later than Sept. 19, 2010, as
prescribed by Rule 12b-25.

                    About GameTech International

Based in Reno, Nevada, GameTech develops and manufactures gaming
entertainment products and systems.  GameTech holds a significant
position in the North American bingo market with its interactive
electronic bingo systems, portable and fixed-based gaming units,
and complete hall management modules.  It also holds a significant
position in select North American VLT markets, primarily Montana,
Louisiana, and South Dakota, where it offers video lottery
terminals and related gaming equipment and software.  It also
offers Class III slot machines and server-based gaming systems.

The Company reported a net loss of $20.4 million on $35.2 million
of revenue for the 52 weeks ended Oct. 31, 2010, compared with a
net loss of $10.5 million on $47.8 million of revenue for the
52 weeks ended Nov. 1, 2009.

Piercy Bowler Taylor & Kern, in Las Vegas, Nevada, expressed
substantial doubt about GameTech International, Inc.'s ability to
continue as a going concern.  The independent auditors noted that
the Company has suffered reoccurring losses from operations and
has been unable to extend the maturity of its debt, or raise
additional capital necessary to execute its business plan.

The Company's balance sheet at May 1, 2011, showed $40.19 million
in total assets, $32.33 million in total liabilities and $7.86
million in total stockholders' equity.


GAS CITY: Hearing on Case Dismissal Plea, et al., Set for Sept. 21
------------------------------------------------------------------
The Hon. Eugene R. Wedoff of the U.S. Bankruptcy Court for the
Northern District of Illinois will convene a hearing on Sept. 21,
2011, at 10:00 a.m. (Central time) to consider Gas City, Ltd., et
al.'s requests: (a) approving procedures for (i) the distribution
of remaining funds under global settlement agreement, and (ii) the
dismissal of the Debtors' Chapter 11 cases; and (b) dismissing the
Debtors' Chapter 11 cases.  Objections were due Sept. 14, 2011.

                         About Gas City

Gas City Ltd. -- http://www.gascity.net/-- based in Frankfort,
Illinois, is an independent petroleum marketer with locations in
Northeast Illinois, Northwest Indiana, Florida and Arizona.
Gas City sought Chapter 11 bankruptcy protection (Bankr. N.D.
Ill. Case No. 10-47879) on Oct. 26, 2010, estimating assets
at $50 million to $100 million and debts at $100 million to
$500 million.  Gas City's parent, the William J. McEnery
Revocable Trust dated Apr. 22, 1993, filed a separate
Chapter 11 petition (Bankr. N.D. Ill. Case No. 10-47895).

Paul V. Possinger, Esq., Mark K. Thomas, Esq., Grayson T. Walter,
Esq., at Proskauer Rose LLP, in Chicago; and Daniel A. Zazove,
Esq., and Kathleen A. Stetsko, Esq., at Perkins Coie LLP, in
Chicago, represent the Debtors.  A. Jeffrey Zappone at Conway
Mackenzie is the Debtors' chief restructuring officer.  Kurtzman
Carson Consultants is the Debtors' claims agent.  Gas City
disclosed $66,307,812 in assets and $209,577,690 in liabilities as
of the Chapter 11 filing.

The Official Committee of Unsecured Creditors has tapped Pachulski
Stang Ziehl & Jones LLP and Levenfeld Pearlstein, LLC, as co-
counsel and Mesirow Financial Consulting, LLC, as financial
advisors.


GAS CITY: Trustee OK'd to Execute Deeds in Lieu of Foreclosure
--------------------------------------------------------------
The Hon. Eugene R. Wedoff of the U.S. Bankruptcy Court for the
Northern District of Illinois authorized William J. McEnery, as
trustee of The William J. McEnery Revocable Trust Dated 4/22/1993,
to execute the deeds in lieu of foreclosure and other documents
required to facilitate the transfer of Gas City, Ltd., et al.'s
properties to Standard Bank and Trust Company.

As reported in the Troubled Company Reporter on July 7, 2011,
Standard Bank asked the Court authorize the trustee to execute the
agreed upon deeds in lieu of foreclosure of certain parcels of
improved real property owned by The McEnery Trust.

On Feb. 18, 2011, Standard Bank, who extended a prepetition
loan totaling $8,740,000 to McEnery, filed a motion for relief
from the automatic stay as to:

   -- the McEnery Residence located at 13015 W. 151st Street, in
      Homer Glen, Illinois;

   -- the Boca Raton Condominium located at 350 S. Ocean Blvd.,
      Unit 4C, in Boca Raton, Florida; and

   -- Bell Valley Farm located on the South Side of 151st Street,
      west of Bell Road, in Homer Glen, Illinois.

On March 1, 2011, the Court granting Standard Bank's motion.

Subsequent to the Court granting relief from the automatic stay,
Standard Bank and The McEnery Trust agreed to terms for the
disposition and turnover of the properties from The McEnery Trust
to Standard Bank pursuant to two deeds in lieu of foreclosure to
be executed by McEnery, as trustee of The McEnery Trust, and
McEnery, individually.  The first deed in lieu of foreclosure, and
accompanying documents, would transfer title of the McEnery
Residence and Bell Valley Farm to Standard Bank.  The second deed
in lieu of foreclosure, and accompanying documents, would transfer
title of the Boca Raton Condominium to Standard Bank.

Pursuant to the terms of the agreement between The McEnery Trust
and Standard Bank, the deeds in lieu would be executed and the
properties would be transferred to Standard Bank on or before
June 30, 2011.  Since the filing of its involuntary case on
June 21, 2011, The McEnery Trust has expressed concern regarding
the execution of the deeds in lieu on the belief that McEnery
cannot execute the Deeds in Lieu while subject to an involuntary
proceeding.  Standard Bank does not believe that the Insolvency
Case affects the ability of McEnery to execute the deeds in lieu,
individually or in his capacity as trustee for The McEnery Trust.

The Court also ordered that Standard Bank is authorized to execute
and take further actions as necessary to ensure the proper and
valid execution of the Deeds in Lieu and transfer of the
properties to Standard Bank.

                         About Gas City

Gas City Ltd. -- http://www.gascity.net/-- based in Frankfort,
Illinois, is an independent petroleum marketer with locations in
Northeast Illinois, Northwest Indiana, Florida and Arizona.
Gas City sought Chapter 11 bankruptcy protection (Bankr. N.D.
Ill. Case No. 10-47879) on Oct. 26, 2010, estimating assets
at $50 million to $100 million and debts at $100 million to
$500 million.  Gas City's parent, the William J. McEnery
Revocable Trust dated Apr. 22, 1993, filed a separate
Chapter 11 petition (Bankr. N.D. Ill. Case No. 10-47895).

Paul V. Possinger, Esq., Mark K. Thomas, Esq., Grayson T. Walter,
Esq., at Proskauer Rose LLP, in Chicago; and Daniel A. Zazove,
Esq., and Kathleen A. Stetsko, Esq., at Perkins Coie LLP, in
Chicago, represent the Debtors.  A. Jeffrey Zappone at Conway
Mackenzie is the Debtors' chief restructuring officer.  Kurtzman
Carson Consultants is the Debtors' claims agent.  Gas City
disclosed $66,307,812 in assets and $209,577,690 in liabilities as
of the Chapter 11 filing.

The Official Committee of Unsecured Creditors has tapped Pachulski
Stang Ziehl & Jones LLP and Levenfeld Pearlstein, LLC, as co-
counsel and Mesirow Financial Consulting, LLC, as financial
advisors.


GATEWAY METRO: Seeks to Use Cash Collateral, Obtain DIP Loan
------------------------------------------------------------
Gateway Metro Center LLC seeks permission from the Bankruptcy
Court to use cash collateral pursuant to Section 363 of the
Bankruptcy Code and grant replacement liens as adequate protection
to the creditors that assert security interests in the Debtor's
cash collateral.

Among other immediate expenses, the Debtor needs to use cash
collateral to pay utilities, property management expenses,
building repair and maintenance expenses, adequate protection
payments in connection with office equipment and other expenses
related to the operation of Gateway Metro Center.  If the Debtor
cannot pay these expenses, there will be immediate and irreparable
harm to the office building, the estate, and the Debtor's
creditors.

In a separate filing, the Debtor seeks authority to incur
postpetition secured debt.  The Debtor, out of an abundance of
caution, wants to have DIP financing in place to draw upon in the
event it does not have sufficient funds on hand to pay costs and
expenses.

The Debtor's prepetition junior lender, Flying Tigers LLC, has
committed to provide $350,000 in DIP loans.

The Company owns two primary assets including (1) the Gateway
Metro Center, formerly known as Gateway Tower, an approximately
121,462 square foot - 11 story office building and land located in
the City of Pasadena, California, including the rights to develop
further the land on which the Gateway Metro Center is located, and
(2) a roughly 8,000 square foot parcel of land immediately
abutting the office building.

The Debtor said the office building is encumbered by a senior deed
of trust asserted by Allstate Life Insurance Company to secure a
claim of roughly $21 million and a junior deed of trust asserted
by Flying Tigers to secure a claim of roughly $350,000.  As a
result, the Debtor said it will not be able to operate in chapter
11 unless it is authorized to use the Lenders' alleged cash
collateral.

The Debtor said Flying Tigers has consented to the used of cash
collateral.  However, the Debtor was unable to complete the
negotiations of a consensual cash collateral order with Allstate
prior to filing its voluntary chapter 11 petition.  The Debtor is
optimistic that a consensual agreement can be reached with
Allstate.

The Debtor loaned $20.5 million from Allstate in October 2006 to
purchase the Gateway Tower as it was known at that time.
Foreseeing a deep and extended economic decline and with increased
vacancy and resulting reduction in cash flow, in early 2008 the
Company proactively contacted Allstate and requested that Allstate
negotiate an extension or refinance of the Loan that is due in
September 2011.  Over the course of the next three years, the
Company and its representatives made numerous and repeated
attempts to engage Allstate in a negotiation over the Allstate
Loan. The Company engaged FTI Consulting, Inc., a well-known real
estate restructuring expert, to act as its financial advisor to
advise the Company regarding alternatives and to contact Allstate
in a further attempt to negotiate with Allstate.  During this
time, the Company made several restructuring proposals to Allstate
in writing.  All of these proactive efforts proved to be
fruitless.

In May 2011, the Company stopped making loan payments to Allstate
with the intention to engage Allstate in a discussion about the
Loan terms.  The Debtor delivered a letter to Allstate to evidence
its intention.  Instead of engaging in a dialogue with the Debtor,
on June 20, 2011, Allstate sent the Debtor a letter stating that
the Company is in default under the Loan and that Allstate was
reserving its rights under the Loan documents.  Thereafter, on
June 29, 2011, the Debtor received a letter from counsel for
Allstate stating that the Company is in default and that Allstate
may seek the appointment of a state court receiver.  Additional
attempts to negotiate the Loan terms with Allstate were rejected
and on July 15, 2011.  The notice of default has affected the
Debtor's marketing efforts to bring in new tenants.

In August 2011, Flying Tigers loaned the Debtor $350,000 to cover
certain expenses incurred by the Debtor and for the potential
costs associated with a bankruptcy filing.  The members of Flying
Tigers are the same as the Debtor's members.  The Flying
Tigers Loan is secured by a junior lien on Gateway Metro Center
including an interest in all rents, issues and profits thereof,
and a senior lien on the Land.

The Debtor projects that its cash balance will increase from
$293,135 on the Petition Date to $346,504 on December 30, 2011.

The Debtor contends that the Lenders are adequately protected (i)
because there is no projected diminution in the value of their
Collateral, and (ii) by an equity cushion.  The Debtor believes
that Gateway Metro Center has a value of $29.7 million, while the
principal amount of secured claims is less than $21 million, which
is an equity cushion of 29%.

The DIP loan from Flying Tigers will be secured by (1) a junior
secured lien on Gateway Metro Center and (2) a junior secured lien
on the Land.  Those liens will be subordinate to any existing
liens and any replacement liens granted in connection with the
Debtor's Cash Collateral use.  The DIP loan bears a 5% interest.

The Debtor also request permission to honor a financing agreement
with M-Theory Financial Group LLC for the purchase of a computer.
The computer is used to assist the Debtor with its day-to-day
business operations.  Pursuant to the Finance Agreement, the
Debtor agreed to pay monthly payments of $117 for 18 months.

                     About Gateway Metro Center

Gateway Metro Center LLC, owner of an 11-story Gateway Metro
Center office building in Pasadena, California, filed a Chapter 11
petition (Bankr. C.D. Calif. Case No. 11-47919) on Sept. 6, 2011.
Judge Barry Russell presides over the case.  Howard J. Weg, Esq.,
and Lorie A. Ball, Esq. -- hweg@pwkllp.com and lball@pwkllp.com --
at Peitzman, Weg & Kempinsky LLP, in Los Angeles, California,
represent the Debtors.  In its schedules, the Debtor scheduled
$32,570,485 in assets and $22,338,135 in debts.  The petition was
signed by John F. Pipia, its president.


GATEWAY METRO: Wants Bar Date, Sees Plan "Within First Few Weeks"
-----------------------------------------------------------------
Gateway Metro Center, LLC, asks the Bankruptcy Court to establish
bar dates for filing proofs of claim and approve the form and
manner of notice.  Specifically, the Debtor request a general bar
date of Oct. 7, 2011, at 5:00 p.m. (Pacific Time).

For claims of "governmental units," as that term is defined in
section 101(27) of the Bankruptcy Code, proofs of claim will be
considered timely if filed (a) before 180 days after the petition
date, or (b) Oct. 7, 2011, whichever is later.

The Debtor said it expects to file a plan of reorganization and
disclosure statement within the first few weeks of commencing its
bankruptcy case.  Accordingly, the Debtor requires a date certain
by which it will know the full extent of the claims made against
the estate to facilitate the expedited consummation of the Plan
and the payment of claims.

                     About Gateway Metro Center

Gateway Metro Center LLC, owner of an 11-story Gateway Metro
Center office building in Pasadena, California, filed a Chapter 11
petition (Bankr. C.D. Calif. Case No. 11-47919) on Sept. 6, 2011.
Judge Barry Russell presides over the case.  Howard J. Weg, Esq.,
and Lorie A. Ball, Esq. -- hweg@pwkllp.com and lball@pwkllp.com --
at Peitzman, Weg & Kempinsky LLP, in Los Angeles, California,
represent the Debtors.  In its schedules, the Debtor scheduled
$32,570,485 in assets and $22,338,135 in debts.  The petition was
signed by John F. Pipia, its president.


GELT PROPERTIES: Proposes Cohen for Suits vs. Steven & Tracy
------------------------------------------------------------
Gelt Properties LLC and its affiliated debtors have filed an
amended application to authorize Cohen and Forman LLC to prosecute
the lawsuits they filed against Steven & Tracy Creek, Inter City
Properties, LLC and Ghandi International.  The Debtors say they
have no outstanding fees owed to the firm.

                       About Gelt Properties

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


GIBSON GUITAR: Moody's Says Govt. Raid No Impact on B3 Corporate
----------------------------------------------------------------
Moody's Investors Service said that the recent news that the
federal government raided certain Gibson's manufacturing
facilities relating to alleged illegalities regarding wood
imported from India does not affect its B3 Corporate Family Rating
or stable outlook at this time.

Headquartered in Nashville, Tennessee, Gibson Guitar Corp.
primarily manufactures and markets acoustic and electric guitars
under the Gibson and Epiphone brand names. The company also sells
other stringed instruments and instruments-related accessories
such as amplifiers, speakers, and picks/straps.


GLOBAL INDUSTRIES: Asks Supreme Court to Weigh Ch. 11 Challenge
---------------------------------------------------------------
Derek Hawkins at Bankruptcy Law360 reports that Global Industries
Technologies Inc. last month asked the U.S. Supreme Court to rule
on whether its insurers were entitled to challenge the handling of
asbestos- and silica-related claims in its bankruptcy plan,
following a precedential ruling by the Third Circuit.

In a petition lodged Aug. 31, Law360 relates, GIT argued that the
insurers lacked standing to object to its attempts to channel the
claims through special trusts funded by insurance settlements and
the rights to the proceeds of GIT's insurance policies.


GOLD HILL: Has Go Signal to Solicit Acceptances for Plan
--------------------------------------------------------
The U.S. Bankruptcy Court for the District of South Carolina gave
Gold Hill Enterprises, LLC, the go signal to solicit acceptances
or rejections of the Debtor's Plan of Reorganization after
approving the disclosure statement explaining the Plan.

Ballots are due Oct. 25, 2011.  The hearing on the confirmation of
the Plan will be held on Nov. 1, 2011, at 10:00 a.m.  Plan
confirmation objections are due Oct. 25.

A full-text copy of addendum to the Disclosure Statement, approved
on Sept. 13, is available for free at:

               http://ResearchArchives.com/t/s?76f0

                    About Gold Hill Enterprises

Fort Mill, South Carolina-based Gold Hill Enterprises, LLC, dba
Jennings Enterprises, filed for Chapter 11 bankruptcy protection
(Bankr. D. S.C. Case No. 11-02458) on April 14, 2011.  According
to its schedules, the Debtor disclosed $11,938,596 in total assets
and $7,351,872 in total debts.

Barton Law Firm, P.A., represents the Debtor in its restructuring
effort.  B. Bayles Mack and the firm of Mack & Mack serves as
special counsel.  Keith Corporation serves as marketing and
development agent.  Robert Palmer & Associates serves as tax
accountant to assist in the preparation of all tax filings and
returns required post petition, and other accounting services that
may be necessary during the pendency of the Chapter 11 case.

W. Clarkson Mcdow, Jr., the U.S. Trustee for Region 4, was unable
to appoint an official committee of unsecured creditors in the
Debtor's case.


GREENBRIER HOSPITALITY: Case Summary & 20 Largest Unsec. Creditors
------------------------------------------------------------------
Debtor: Greenbrier Hospitality, LLC
        817 Greenbrier Circle
        Chesapeake, VA 23321

Bankruptcy Case No.: 11-74161

Chapter 11 Petition Date: September 14, 2011

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

Judge: Stephen C. St. John

Debtor's Counsel: John D. McIntyre, Esq.
                  WILSON & MCINTYRE, PLLC
                  500 East Main Street, Suite 920
                  Norfolk, VA 23510
                  Tel: (757) 961-3900
                  E-mail: jmcintyre@wmlawgroup.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/vaeb11-74161.pdf

The petition was signed by Mukesh Barot.


GSI HOLDING: Moody's Hikes Corporate to 'B2'; Outlook Stable
------------------------------------------------------------
Moody's Investors Service upgraded the corporate family rating and
probability of default ratings of GSI Holdings LLC to B2 from B3
and the first lien bank debt to B1. Concurrently, the outlook was
changed to stable from negative.

These ratings were upgraded:

Corporate family rating, to B2 from B3

Probability of default rating, to B2 from B3

$50 million first lien revolver due 2013, to B1 (LGD-3, 36%) from
B2 (LGD-3, 35%)

$305 million first lien term loan due 2014, to B1 (LGD-3, 36%)
from B2 (LGD-3, 35%)

RATINGS RATIONALE

The ratings upgrade recognizes GSI's meaningful improvement in
credit metrics due in part to positive industry dynamics in the
North American agricultural sector driving demand for GSI's
agricultural equipment as well as modest debt reduction. The
improvement in free cash flow generation and cash on the balance
sheet since last year also support the upgrade. The favorable
outlook for farm income, despite an uncertain general
macroeconomic outlook, bodes well for grain storage and
poultry/swine equipment orders, which should support GSI's credit
metrics over the intermediate term. The positive trends in corn
and soybean futures prices benefits the company's grain segment
while lean hog futures prices have also trended upward over the
last year benefitting the company's protein segment. GSI appears
to have completed most of its meaningful restructuring efforts
including those associated with its operations in Brazil. The
ratings are constrained by the cyclicality inherent in the
industry, volatility of commodity prices and deferral of
agricultural equipment capital expenditures if the overall North
American economy weakens.

The stable rating outlook reflects the company's good liquidity
profile and Moody's expectation that continuing positive industry
drivers over the intermediate term will support current credit
metrics.

The ratings and/or outlook could be revised downward if the
company's overall liquidity profile weakens and debt/EBITDA is
sustained above 5.0 times.

The ratings could be upgraded if the company substantially
increases its revenue base to in excess of $1 billion, debt/EBITDA
is sustained below 4.0 times and double digit free cash flow
generation is maintained.

The principal methodology used in rating GSI Holdings, LLC was the
Global Heavy Manufacturing Rating Industry Methodology, published
in November 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.

GSI Holdings Corp. headquartered in Assumption, IL, is a
manufacturer and supplier of agricultural equipment. Roughly over
70% of GSI's revenues are to the North American market. The
company's products include grain storage systems, and swine and
poultry production equipment. Revenues during the last twelve
months ended June 30, 2011 totaled over $700 million.


HARBOUR EAST: Escrow Agent Directed to Turnover Defaulted Deposits
------------------------------------------------------------------
The Hon. A. Jay Cristol of the U.S. Bankruptcy Court for the
Southern District of Florida directed the law firm of Blass &
Frankel, P.A., the escrow agent, to turnover a certain defaulted
escrow deposit which constitute property of Harbour East
Development, Ltd.

As reported in the Troubled Company Reporter on Aug. 29, 2011, the
Debtor asked the Court to:

   -- compel the escrow agent, to turn over to the Debtor the
   forfeited deposit ($67,469, plus accrued interest);

   -- direct the Debtor to place the forfeited deposit into a
   separate interest-bearing Debtor-In-Possession bank account;
   and

   -- prohibit the Debtor from making any disbursements of the
   forfeited deposit unless expressly authorized by order of the
   Court.

The escrow agent is also authorized and directed to transfer the
defaulted purchase deposit of Demar Import/Export, Inc., White
Investment Group, 1207 Brickell Corp., Jy J Tequesta 1111 Corp.,
and By G Real Estate in the amount of $67,469, plus accrued
interest, if any.

The forfeited deposit will be deposited into the Debtor's new DIP
account, which was established to hold previously forfeited
deposits pursuant to the order entered on Aug. 3, 2010.

Any liens that exist with respect to the forfeited deposit will
attach to the proceeds of the new DIP account.

The Court also ordered that there will be no transfers or
disbursements out of the new DIP account except as authorized by
further order of the Court.  The Debtor will deliver a copy of the
order to the bank at which the new DIP account is maintained to
ensure compliance.

Provided that the escrow agent complies with the terms of this
Order, the escrow agent will not be held liable to any person or
entity for any matter arising out of or related to the forfeited
deposit.

Further, the Court authorized the Debtor to take any additional
actions necessary to effectuate the terms of the order.

                  About Harbour East Development

Harbour East Development, Ltd., is the developer and owner of the
luxury residential condominium development known as CIELO on the
Bay located at 7935 East Drive, North Bay Village.  CIELO contains
35 residential condominium units.

Harbour East filed for Chapter 11 bankruptcy (Bankr. S.D. Fla.
Case No. 10-20733) on April 22, 2010.  Michael L. Schuster, Esq.,
who has an office in Miami, Florida, represents the Debtor.  The
Company estimated assets and debts at $10 million to $50 million,
as of the Chapter 11 filing.

Judge Cristol denied the request of 7935 NBV LLC's request to
dismiss the case.

No creditors' committee has been appointed in the case.  In
addition, no request for the appointment of a trustee or examiner
has been made.


HARBOUR EAST: Amended Plan Outline Hearing Set for Sept. 26
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Florida
will convene a hearing on Sept. 26, 2011, at 3:00 p.m., to
consider approval of the Amended Disclosure Statement explaining
Harbour East Development, Ltd.'s Plan of Reorganization.
Objections, if any, are due Sept. 19.

As reported in the Troubled Company Reporter on Sept. 1, 2011, the
Debtor filed on Aug. 18, a disclosure statement describing its
Third Amended Plan.

The Plan will be funded by the Debtor forfeited Purchaser Escrow
Deposits, income from rental of Condominium Units, net proceeds
from sales of Condominium Units, and the conversion of the Egozi
unsecured claim into equity interests in the Reorganized Debtor.

The Third Amended Plan designates 14 Classes of Claims and
Interests.  Holders of Real Estate Tax Secured Claims (Class 2),
Northern Trust/NBV Secured Construction Loan Claims (Class 3),
Egozi Secured Subrogation Claim (Class 4), Whirlpool Secured Claim
(Class 5), (Class 6), Purchaser Deposit Secured Claims (Class 7),
Association Secured Claim (Class 8), Purchaser Contract Litigation
Attorney Secured Claim (Class 9), Northern Trust/NBV Unsecured
Claim (Class 10), General Unsecured Claims (Class 11), and Egozi
Unsecured Claim (Class 12) are entitled to vote on the Plan.

Priority Non-Tax Claims (Class 1) are not impaired.  Class 1
Claims will be paid in full in Cash under the Plan.

Holders of Old Limited Partnership Equity Interests (Class 13) Old
General Partnership Equity Interests (Class 14) are deemed to
reject the Plan and are not entitled to vote.

Northern Trust/NBV Secured Construction Loan Claims (Class 3) will
receive quarterly payments equal to the interest that would
otherwise be payable on the actual secured amount of its claim at
the Secured Claim Cram Down Rate and will receive payments of 60%
of the net proceeds of each sale of a Condominium Unit during
the first year of the Plan and 90% of the net proceeds of each
sale of Condominium Units until its Allowed Class 3 Claim is paid
in full, approximately $8 million.

Northern Trust/NBV Unsecured Claim (Class 10), will be treated for
all purposes as a Class 11 General Unsecured Claim, to the extent
that the Class 10 Claim is determined by Final Order to hold an
Allowed Unsecured Claim.

General Unsecured Claims (Class 11) will receive up to !00% of the
principal amount and accrued interest at the Unsecured Cram Down
Rate from the General Unsecured Distribution Reserve.

Old Limited Partnership Equity Interests (Class 13) and Old
General Partnesrhip Interests (Class 14) will be canceled and
Holders thereof will receive no distribution under the Plan.

A copy of the Disclosure Statement is available at:

    http://bankrupt.com/misc/harboureast.DS3rdamendedplan.pdf

                  About Harbour East Development

Harbour East Development, Ltd., is the developer and owner of the
luxury residential condominium development known as CIELO on the
Bay located at 7935 East Drive, North Bay Village.  CIELO contains
35 residential condominium units.

Harbour East filed for Chapter 11 bankruptcy (Bankr. S.D. Fla.
Case No. 10-20733) on April 22, 2010.  Michael L. Schuster, Esq.,
who has an office in Miami, Florida, represents the Debtor.  The
Company estimated assets and debts at $10 million to $50 million,
as of the Chapter 11 filing.

Judge Cristol denied the request of 7935 NBV LLC's request to
dismiss the case.

No creditors' committee has been appointed in the case.  In
addition, no request for the appointment of a trustee or examiner
has been made.


HARBOUR EAST: Has Temporary Access to Rental Income Until Oct. 31
-----------------------------------------------------------------
The Hon. A. Jay Cristol of the U.S. Bankruptcy Court for the
Southern District of Florida, in an eighth interim order,
authorized Harbour East Development, Ltd., to use cash collateral,
and recover maintenance and preservation expenses from property
securing allowed claims.

The Debtor would use the rental income to pay the operating
expenses until Oct. 31.  Any funds remaining after payment of the
budgeted expense items will not be expended by Bay Condominium
Association without the express prior written consent of NBV or
pursuant to further orders of the Court.

As adequate protection for any diminution in value of the lenders'
collateral, the Debtors will grant the prepetition lenders
replacement liens upon all postpetition assets of the Debtor which
are of the same nature or type as the collateral in which the
claimants had an interest prior to the commencement of the
chapter 11 case.

In addition, in the event that the order (A) granting defendant
7935 NBV, LLC's motion for summary judgment on Count II and (B)
denying debtor's cross-motion for summary judgment on complaint to
avoid NBV's security interests is reversed on appeal or otherwise
modified pursuant to a final order in a manner that avoids the
perfected security interest of 7935 NBV, LLC on the Debtor's
interest in purchaser deposits, NBV will have a lien on the
purchaser deposits to the extent of the amount of cash collateral
utilized in respect of the supersedeas bond.

By Sept. 20, and the 20th day of each succeeding month, the Debtor
will provide NBV with an updated rent roll for the property.

A hearing on the Debtor's request for continued use of cash
collateral will be held on Sept. 26, at 3:00 p.m.

                  About Harbour East Development

Harbour East Development, Ltd., is the developer and owner of the
luxury residential condominium development known as CIELO on the
Bay located at 7935 East Drive, North Bay Village.  CIELO contains
35 residential condominium units.

Harbour East filed for Chapter 11 bankruptcy (Bankr. S.D. Fla.
Case No. 10-20733) on April 22, 2010.  Michael L. Schuster, Esq.,
who has an office in Miami, Florida, represents the Debtor.  The
Company estimated assets and debts at $10 million to $50 million,
as of the Chapter 11 filing.

Judge Cristol denied the request of 7935 NBV LLC's request to
dismiss the case.

No creditors' committee has been appointed in the case.  In
addition, no request for the appointment of a trustee or examiner
has been made.


HAWAII MEDICAL: Committee Seeks Approval to Retain A&M HealthCare
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors seeks approval from
the U.S. Bankruptcy Court for the District of Hawaii to retain
Alvarez & Marsal Healthcare Industry Group LLC effective
Aug. 31, 2011.

The Committee tapped the firm to provide advisory services in
connection with its objection to the confirmation of the Chapter
11 plan of Hawaii Medical Center and its affiliated debtors.

A&M Healthcare will be tasked to review and evaluate the Debtors'
financial and operational condition.  It will assist the Committee
and its counsel in evaluating and responding to various
development or motions during the course of the Debtors'
bankruptcy cases including providing expert testimony.

In exchange for its services, A&M Healthcare will be paid on an
hourly basis and will be reimbursed for its expenses.  The firm's
hourly rates for its professionals range from $300 to $850.
George Pillari, managing director of A&M, will be primarily
responsible for this engagement.

In a declaration, Mr. Pillari assures the Court that the firm and
its professionals do not represent interest adverse to that of the
Committee, and that they are "disinterested persons" under Section
101(14) of the Bankruptcy Code.

                  About Hawaii Medical Center

The Hawaii Medical Center, along with its affiliates, filed for
Chapter 11 bankruptcy (Bankr. D. Hawaii Lead Case No. 11-01746) on
June 21, 2011, just a year after exiting court protection.  Hawaii
Medical Center owns two hospital campuses -- HMC East in North
Honolulu and HMC West in Ewa Beach.  The two hospitals have 342
licensed beds and have a total of more than 1,000 employees.  The
hospitals were known as St. Francis Medical Center before Hawaii
Medical purchased the hospitals in 2007.

Judge Robert J. Faris presides over the 2011 case.  Lawyers at
Moseley Biehl Tsugawa Lau & Muzzi, in Honolulu, Hawaii, and
McDonald Hopkins LLC, in Cleveland, Ohio, serve as the Debtors'
counsel.  The Debtors' financial advisors are Scouler & Company,
LLC.  In its petition, Hawaii Medical Center estimated $50 million
to $100 million in assets and $100 million to $500 million in
debts.  The petitions were signed by Kenneth J. Silva, member of
the board of directors.

Attorneys at Wagner Choi & Verbrugge, in Honolulu, Hawaii, and
Pachulski Stang Ziehl & Jones LLP, in Los Angeles, represent the
Official Committee of Unsecured Creditors as counsel.

The Debtors' prepetition debt structure is comprised of (i) the
Prepetition Revolving Loan with MidCap Financial, LLC, and the
Prepetition Term Loan with St. Francis Healthcare Systems of
Hawaii.  As of the Petition Date, the aggregate outstanding
principal on the Prepetition MidCap Revolving Loan and the
Prepetition St. Francis Term Loan is approximately $46,851,772.
The principal balance of the Prepetion MidCap Revolving Loan is
approximately $7,676,495.  The amount owed under the Prepetition
St. Francis Term Loan is approximately $39,175,277, secured by St.
Francis's first priority lien on, among other things, all real
property of the Debtors.

Through this Chapter 11 filing, the Debtors plan to return the
hospitals to the control of St. Francis.

In the prior case, HMC and its affiliated debtors were converted
to new, Hawaii non-profit corporations.  CHA Hawaii, one of HMC's
affiliated debtors and a subsidiary of Cardiovascular Hospitals of
America, LLC, discontinued management of the reorganized Debtors.

Wichita, Kansas-based CHA Hawaii LLC, and its affiliates --
including Hawaii Medical Center LLC -- filed for Chapter 11
protection on Aug. 29, 2008 (Bankr. D. Del. Case No. 08-12027).
Laura Davis Jones, Esq., at Pachulski Stang Ziehl & Jones LLP
represented the Debtors in their restructuring efforts.  CHA
Hawaii estimated assets of up to $10 million and debts between
$50 million and $100 million when it filed for bankruptcy.  The
Debtors obtained confirmation of their Chapter 11 plan in May 2010
and emerged from bankruptcy in August 2010.

The Debtor disclosed $74,713,475 in assets and $91,599,563 in
liabilities as of the Chapter 11 filing.

St. Francis Healthcare System of Hawaii is represented by:

         Jonathan H. Steiner
         McCORRISTON MILLER MUKAI MACKINNON LLP
         Five Waterfrong Plaza, Fourth Floor
         500 Ala Moana Boulevard
         Honolulu, Hawaii 96813
         Tel: (808) 529-7300
         Fax: (808) 524-8293
         E-mail: steiner@m4law.com

         Joshua M. Mester
         DEWEY & LEBOEUF LLP
         333 South Grand Avenue, 26th Floor
         Los Angeles, California 90071
         Tel: (213) 621-6000
         Fax: (213) 621-6100
         E-mail: jmester@dl.com


HERCULES OFFSHORE: Bank Debt Trades at 4% Off in Secondary Market
-----------------------------------------------------------------
Participations in a syndicated loan under which Hercules Offshore,
Inc., is a borrower traded in the secondary market at 96.00 cents-
on-the-dollar during the week ended Friday, Sept. 16, 2011, an
increase of 0.63 percentage points from the previous week
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  The Company pays 650 basis points above
LIBOR to borrow under the facility.  The bank loan matures on
July 11, 2013, and carries Moody's 'Caa1' rating and Standard &
Poor's 'B-' rating.  The loan is one of the biggest gainers and
losers among 104 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.

                     About Hercules Offshore

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

The Company reported a net loss of $134.59 million on $657.48
million of revenue for the year ended Dec. 31, 2010, compared with
a net loss of $91.73 million on $742.85 million of revenue during
the prior year.  Hercules reported a net loss of $37.65 million on
$329.58 million of revenue for the six months ended June 30, 2011,
compared with a net loss of $34.94 million on $302.45 million of
revenue for the same period during the prior year.

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

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

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


HES CONSTRUCTION: Case Summary & 7 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: HES Construction, LLC
        4513 Hixson Pike, Suite 108
        Hixson, TN 37343

Bankruptcy Case No.: 11-15040

Chapter 11 Petition Date: September 13, 2011

Court: United States Bankruptcy Court
       Eastern District of Tennessee (Chattanooga)

Judge: John C. Cook

Debtor's Counsel: W. Thomas Bible, Esq.
                  LAW OFFICE OF W. THOMAS BIBLE, JR.
                  6918 Shallowford Road, Suite 100
                  Chattanooga, TN 37421
                  Tel: (423) 424-3116
                  Fax: (423) 553-0639
                  E-mail: melinda@tombiblelaw.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 seven largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/tneb11-15040.pdf

The petition was signed by H. Edward Smith, president.


HILEX POLY: Moody's Affirms B3 CFR; Outlook Revised to Negative
---------------------------------------------------------------
Moody's Investors Service revised the ratings outlook on Hilex
Poly LLC to negative from stable and affirmed the B3 corporate
family rating and probability of default ratings. Moody's also
affirmed the B3 rating on the senior secured term loan.

The revision of the ratings outlook to negative reflects limited
cushion under financial covenants, limited cash flow relative to
term loan amortization, small cash balances, and limited revolver
availability leaving little room for negative variance in
operating performance. The negative outlook also reflects weaker
than expected unit volumes in the first half of the year and an
uncertain operating environment.

RATINGS RATIONALE

The B3 Corporate Family Rating reflects narrow operating margins,
limited cash flow generation and tight cushion under covenants.
Despite some improvement, the operating margins remain narrow due
to the largely commoditized product line, the fragmented industry
and high customer concentration. The rating is also constrained by
the company's small size, lack of pricing power and short history
of operating improvements.

Strengths in the company's profile include its leading position in
the industry and long-standing customer relationships with well-
established companies. Between 70%-75% of Hilex's sales stem from
economically resistant food and drug retailers. The company also
benefits from completed restructuring and cost-cutting
initiatives, improved contract structure with raw material cost
pass-through provisions, and new and renewed anti-dumping tariffs
on Asian imports.

The ratings could be revised downward if the cushion under
financial covenants declines and liquidity deteriorates. The
ratings could also be downgraded if there is a deterioration in
the operating and competitive environment and credit metrics.
Specifically, the ratings could be downgraded if FCF to Debt fails
to improve to above 3%, EBIT margin fails to improve above 3.5%,
EBIT/Interest remains below 1 times and debt to EBITDA increases
above 6.5 times. The ratings could also be downgraded if there is
significant debt financed acquisition or another dividend
recapitalization.

The outlook could be stabilized and ratings could be upgraded if
liquidity and cushion under financial covenants improve and Hilex
demonstrates an ability to improve credit metrics. Specifically,
the ratings could be upgraded if the EBIT margin increases to the
high single digits, EBIT to Gross Interest Expense increases above
1.3 times and Debt to EBITDA remains below 5.7 times. An upgrade
would also be contingent upon the maintenance of adequate
liquidity and stability in the operating and competitive
environment.

Moody's took the following rating actions;

-Affirmed B3 CFR

-Affirmed B3 PDR

-Affirmed $135 million senior secured term loan, B3 (LGD 4-58%
from 57%)

-Revised outlook to negative

The principal methodology used in rating Hilex was the Global
Packaging Manufacturers: Metal, Glass, and Plastic Containers
Industry Methodology published in June 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.


HORIZON LINES: S&P Raises Corp. Credit Rating to 'CC' From 'SD'
---------------------------------------------------------------
Standard & Poor's Ratings Services raised its long-term corporate
credit rating on Horizon Lines Inc. to 'CC' from 'SD'. "At the
same time, we raised our rating on the company's senior
convertible notes to 'C' from 'D'. In addition, we affirmed our
'B-' rating on the company's senior secured credit facilities.
We are removing this rating from CreditWatch, where we placed it
with negative implications on Feb. 24, 2011. The outlook is
negative," S&P related.

"Following these rating actions, we withdrew all ratings on
Horizon Lines at the company's request," S&P stated.

"The rating actions on Horizon Lines follow the company's payment
on Sept. 13, 2011, of a $7.0 million interest payment on its $330
million senior convertible notes due August 2012 within the 30-day
grace period under the terms of the indenture," said Standard &
Poor's credit analyst Funmi Afonja. "On Aug. 23, 2011, we had
lowered our rating on Horizon Lines' to 'SD' (selective default)
following the company's decision to defer the interest payment due
Aug. 15. Under our criteria, we view the failure to make an
interest payment within five business days after the due date as
tantamount to a default, regardless of the length of the grace
period contained in the indenture."

"We assigned a negative outlook on the company," Ms. Afonja
continued, "because we believe that we would likely judge the
pending exchange offer on the existing $330 million senior
unsecured convertible notes to be a distressed exchange, which
would cause us to subsequently lower the issue-level rating to 'D'
and the corporate credit rating to 'SD'," S&P related.

"Thereafter, when Horizon completes its entire debt restructuring,
we would reassess the company's credit quality and assign new
ratings, reflecting our view of the company's operating prospects,
capital structure, and liquidity position. We affirmed the 'B-'
rating on the company's existing senior secured credit facilities,
pending the recapitalization that will repay the debt with new
facilities."


INNKEEPERS USA: In Deal Talks With Five Mile & Lehman Unit
----------------------------------------------------------
The Wall Street Journal's Mike Spector and Eliot Brown report that
people familiar with the matter said creditors Five Mile Capital
Partners LLC and a unit of Lehman Brothers Holdings Inc. are in
discussions to acquire Innkeepers USA Trust in a possible deal
valued at more than $1 billion.  The sources told the Journal that
Five Mile and Lehman submitted a preliminary nonbinding offer for
Innkeepers earlier last week to acquire its 64 remaining hotels.
The offer is slightly higher than an opening bid Five Mile and
Lehman made for Innkeepers in a May bankruptcy-court auction.
Since then, the two sides have been negotiating terms.

The sources said the deal consists mostly of assumed debt and
converting debt to equity:

     (A) Five Mile would assume a substantial portion of
Innkeepers's senior mortgage debt and, along with investment
partners, make certain cash payments to creditors.  The sources
said the investment partners are Starwood Capital Group and Hersha
Hospitality Management, which both would end up owning a piece of
Innkeepers.  Hersha, a hotel-management company partially owned by
Starwood, would manage the properties for the ownership group, one
source said.

     (B) The Lehman subsidiary, which holds a roughly $238 million
Innkeepers mortgage, would convert a chunk of its mortgage debt to
ownership stakes in Innkeepers. Some of the remaining mortgage
debt would be paid back.

The deal, if consummated, would take Innkeepers out of bankruptcy
protection.  According to the Journal, the people cautioned the
talks remain fluid and terms could change or the deal could fall
apart.

                      Cerberus Sale Collapses

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

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

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

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

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

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

Dow Jones Newswires' Joseph Checkler reports that the he two sides
and Judge Shelley C. Chapman agreed that a trial of the lawsuit
could start on Oct. 10, which would necessitate the opening of the
courthouse during the Columbus Day holiday.

Innkeepers USA has won an extension until Nov. 10 of its
exclusivity periods to file a plan free from the threat of a rival
proposal.  Originally, Innkeepers was going to ask for an
extension until Jan. 12 to file a plan and March 19 to solicit
credit or votes on the proposal, but a lawyer said the company had
scaled the request back to Nov. 10 and would come to court just
before that if it needs more time.

                    About Innkeepers USA Trust

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

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

Apollo Investment Corporation acquired Innkeepers in June 2007.

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

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


IGLESIA MISIONERA: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: Iglesia Misionera Pregoneros de Justicia de Florida, Inc
        868 SE 12 St
        Hialeah, FL 33010

Bankruptcy Case No.: 11-35355

Chapter 11 Petition Date: September 13, 2011

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

Judge: A. Jay Cristol

Debtor's Counsel: Raymond Beitra, Esq.
                  SOUTH FLORIDA LEGAL CENTER
                  900 West 49th Street, #424
                  Hialeah, Fl 33012
                  Tel: (305) 448-9590

Scheduled Assets: $349,010

Scheduled Debts: $346,415

The list of unsecured creditors filed together with its petition
does not contain any entry.

The petition was signed by Reinaldo Medina, president.


INOVA TECHNOLOGY: Delays Filing of Quarterly Report on Form 10-Q
----------------------------------------------------------------
Inova Technology, Inc., was not able to file its quarterly report
on Form 10-Q on the due date of Sept. 14, 2011.  The Company
expects that the 10-Q filing will be completed and filed on or
before the amended due date of Sept. 19, 2011.  The Company did
not state any reason for the delay.

                      About Inova Technology

Based in Las Vegas, Nevada, Inova Technology, Inc. (OTC BB: INVA)
-- http://www.inovatechnology.com/-- through its subsidiaries,
provides information technology (IT) consulting services in the
United States.  It also manufactures radio frequency
identification (RFID) equipment; and provides computer network
solutions.  The company was formerly known as Edgetech Services
Inc. and changed its name to Inova Technology, Inc., in 2007.

The Company reported a net loss of $3.35 million on $22.12 million
of revenue for the year ended April 30, 2011, compared with a net
loss of $7.06 million on $21.03 million of revenue during the
prior year.

The Company's balance sheet at April 30, 2011, showed $8.16
million in total assets, $18.37 million in total liabilities and a
$10.21 million total stockholders' deficit.

MaloneyBailey LLP, in Houston, Texas, noted that the Company
incurred losses from operations for fiscal 2011 and 2010 and has a
working capital deficit as of April 30, 2011.  According to the
independent auditors, these factors raise substantial doubt about
Inova's ability to continue as a going concern.


INTELLICELL BIOSCIENCES: Posts $12 Million 2nd Quarter Net Loss
---------------------------------------------------------------
Intellicell BioSciences, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $12.0 million on $58,500 of revenues
for the three months ended June 30, 2011.

The Company had a net loss of $13.2 million on $58,500 of revenues
for the six months ended June 30, 2011.

The Company's balance sheet at June 30, 2011, showed $1.1 million
in total assets, $15.1 million in total liabilities, all current,
and a stockholders' deficit of $14.0 million.

"The Company has a working capital deficit, and has incurred
losses since inception resulting in an accumulated deficit of
$13,971,565 as of June 30, 2011, $2,638,871 if the non cash
expense related to the Company's derivative liability is excluded,
and further losses are anticipated in the continued development of
its business, raising substantial doubt about the Company's
ability to continue as a going concern," the Company said in the
filing.

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

                       http://is.gd/PloHGv

Intellicell BioSciences, Inc., headquartered in New York, N.Y.,
was formed on Aug. 13, 2010, under the name "Regen Biosciences,
Inc." as a pioneering regenerative medicine company to develop and
commercialize regenerative medical technologies in large markets
with unmet clinical needs.  On Feb. 17, 2011, the company changed
its name from "Regen Biosciences, Inc." to "IntelliCell
BioSciences Inc".  To date, IntelliCell has developed proprietary
technologies that allow for the efficient and reproducible
separation of stromal vascular fraction (branded
"IntelliCell(TM)") containing adipose stem cells that can be
performed in tissue processing centers and in doctors' offices.

In conjunction with the formation of IntelliCell, a shareholder
contributed, as part of his initial capital contribution, one
hundred percent (100%) of the outstanding stock of Tech Stem Inc.,
a New York corporation ("Tech Stem") originally formed on May 24,
2010.  Tech Stem's business is the sourcing, sales and
distribution of laboratory equipment and supplies utilized in
tissue processing related to IntelliCell's technologies.


INTERSIL CORPORATION: Moody's Affirms Ba2 CFR; Outlook Stable
-------------------------------------------------------------
Moody's Investors Service assigned a Ba2 rating to Intersil
Corporation's new $325 million senior secured revolving credit
facility due 2016, and withdrew the rating on the old $75 million
revolving credit facility and term loan. Moody's also affirmed
Intersil's Ba2 Corporate Family Rating (CFR), Ba3 Probability of
Default Rating (PDR) and SGL-1 Speculative Grade Liquidity Rating.
The rating outlook is stable.

RATINGS RATIONALE

Moody's views this refinancing constructively which extends
Intersil's revolver maturity and reduces Intersil's after tax
interest expense to around 2%.

The Ba2 rating reflects Intersil's strong market position and
technological leadership across its high-performance analog (HPA)
portfolio and the comparative strength of its high-margin business
model.

The rating also considers Intersil's small scale relative to HPA
competitors and that the bulk of its revenues are exposed to the
more volatile end markets (i.e., wireless communications, consumer
electronics and computing). Moody's anticipates that Intersil will
maintain good operating cost controls and be able to respond to
changes in the business cycle in order to sustain leverage below
2.5x total debt to EBITDA (Moody's adjusted).

The stable rating outlook reflects Moody's expectation that
Intersil will maintain its competitive positions and key customer
relationships, and continue to generate solid operating profits
and free cash flow through business cycles.

Ratings could be upgraded if Intersil experienced revenue and
operating margin improvement to a higher sustainable range of at
least the high teens level (i.e., 17%) implying strength in
technological leadership, a favorable shift in product mix,
increased market share and lower cost structure. Higher EBITDA
should result in financial leverage under 2x (Moody's adjusted) on
a sustained basis, which would be an important element of any
rating upgrade. An upgrade could also occur if Intersil maintained
prudent financial policies including robust available cash,
lowered the portion of dividend payments relative to cash flow
from operations to a range of 20% to 25%, and generated free cash
flow to debt of at least 20% on a sustained basis (Moody's
adjusted).

Ratings could be downgraded if Intersil experienced sustained
revenue contraction or market share erosion as a result of loss of
technological leadership and reduced profitability resulting in
operating margins below 15% on a consistent basis. A more
aggressive use of financial policies and leverage such that total
debt to EBITDA (Moody's adjusted) exceeded 3.0x for an extended
episode could also result in a ratings downgrade.

Proceeds drawn under the new credit facility were used to repay
the $278 million amount outstanding under Intersil's existing
secured term loan due 2016. Moody's has withdrawn the ratings and
LGD Assessments on the retired credit facilities.

Assignments:

$325 Million Senior Secured Revolving Credit Facility due
September 2016 -- Ba2 (LGD-3, 32%)

Ratings Affirmed:

Corporate Family Rating -- Ba2

Probability of Default Rating -- Ba3

Speculative Grade Liquidity Rating -- SGL-1

Ratings and LGD Assessments Withdrawn:

$75 Million Senior Secured Revolver due October 2013 -- Ba2 (LGD-
3, 32%)

$300 Million ($278 Million outstanding) Senior Secured Term Loan
due April 2016 -- Ba2 (LGD-3, 32%)

Moody's subscribers can find additional information in the
Intersil Credit Opinion published on www.moodys.com.

Please see ratings tab on the issuer/entity page on Moodys.com for
the last credit rating action and the rating history.

The methodologies used in this rating were Principal Methodology
Global Semiconductor Industry published in November 2009, and
Principal Methodology Loss Given Default for Speculative-Grade
Non-Financial Companies in the U.S., Canada and EMEA published in
June 2009. Please see the Credit Policy page on www.moodys.com for
a copy of these methodologies.

Headquartered in Milpitas, CA, Intersil Corporation designs,
develops, manufactures and markets high-performance analog (HPA)
and mixed-signal semiconductors targeted within computing,
industrial, high-end consumer and communications end markets.
Revenues and EBITDA (Moody's adjusted) for the twelve months ended
July 1, 2011 were $821 million and $181 million, respectively.


IPREO HOLDINGS: S&P Assigns 'B' Corporate Credit Rating
-------------------------------------------------------
Standard & Poor's Ratings said assigned its 'B' corporate credit
rating to Ipreo Holdings LLC. The outlook is stable.

"At the same time, we assigned a 'BB-' issue-level rating (two
notches above the 'B' corporate credit rating) to the company's
$135 million senior secured credit facilities, with a recovery
rating of '1', indicating our expectation of a very high (90% to
100%) recovery for debtholders in the event of a payment default.
The senior secured credit facilities, which consist of a $20
million revolver due 2016 and a $115 million term loan due 2017,
along with $105 million of senior subordinated notes (unrated),
were used to finance the acquisition," S&P related.

"Our 'B' corporate credit rating on Ipreo reflects our view that
the company will have solid revenue growth in 2012, despite
weakness in new municipal bond issuance volume," said Standard &
Poor's credit analyst Jeanne Shoesmith.

In Standard & Poor's opinion, Ipreo's business risk profile is
weak, because of a narrow business focus and revenue sensitivity
to volatile financial markets. "We regard the financial risk
profile as highly leveraged, based on the company's increased
interest expense burden and high ratio of lease-adjusted debt to
EBITDA of 6.5x, based on the pro forma trailing-12-month EBITDA as
of June 30, 2011," S&P said.

Ipreo provides financial data, deal-related information, and
investor communications tools to investment banks and companies.
The company has a heavy reliance on financial markets, and
municipal debt markets in particular. A decline in debt and equity
issuance transactions would have negative repercussions for the
company's Capital Markets segment (54% of 2010 revenue). A high
percentage of subscription-based revenue in Ipreo's non-Capital

Markets business lines offers a degree of stability. A cutback in
state and local government debt issuance has caused municipal bond
issuance volume to decline sharply in 2011. Ipreo faces the risk
of competition from much larger competitors with greater financial
resources and a greater ability to withstand downturns.

"The stable outlook reflects our view that despite a significant
interest burden, Ipreo should be able to generate positive
discretionary cash flow and possibly reduce its debt-to-EBITDA
ratio over the medium term. If the company applies a portion of
its cash flow to debt reduction, we could raise the rating over
the medium term. More specifically, if the company reduces lease-
adjusted total debt to EBITDA to less than 5.5x, we could raise
the rating, assuming no deterioration in business performance.
EBITDA growth of 15% combined with debt repayment of about $10
million could result in leverage declining to 5.5x. On the other
hand, adverse financial market developments or macroeconomic
trends that squeeze revenue, EBITDA, and discretionary cash
flow, especially if the EBITDA cushion of compliance with the
revolver covenant narrows to less than 15%, could lead us to lower
the rating," S&P noted.


IT'S GREEK TO ME: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: It's Greek to Me, Inc. also trading as AJ's Burgers
        11 Lagoon Road
        Hilton Head Island, SC 29928

Bankruptcy Case No.: 11-05686

Chapter 11 Petition Date: September 13, 2011

Court: United States Bankruptcy Court
       District of South Carolina (Charleston)

Judge: David R. Duncan

Debtor's Counsel: Robert G. Sable, Esq.
                  LAW OFFICE OF MICHAEL W. MOGIL, PA
                  2 Corpus Christie Place, Suite 303
                  Hilton Head Island, SC 29928
                  Tel: (843) 785-8110
                  E-mail: rsable@mogillaw.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/scb11-05686.pdf

The petition was signed by Barbara Jean Maniotis, vice president.

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Lagoon Road Associates, LLC            11-05685   09/13/11
Maniotis, Vassilios and Maniotis,
  Barbara Jean                         11-05684   09/13/11


IVAX DIAGNOSTICS: Posts $767,400 Net Loss in Second Quarter
-----------------------------------------------------------
IVAX Diagnostics, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $767,485 on $4.4 million of revenues
for the three months ended June 30, 2011, compared with a net
loss of $1.3 million on $4.4 million of revenues for the same
period last year.

The Company had a net loss of $1.8 million on $8.5 million of
revenues for the six months ended June 30, 2011, compared with a
net loss of $2.3 million on $9.0 million of revenues for the same
period of 2010.

The Company's balance sheet at June 30, 2011, showed
$19.9 million in total assets, $7.3 million in total liabilities,
and stockholders' equity of $12.6 million.

As reported in the TCR on April 5, 2011, Grant Thornton LLP, in
Miami, Fla., expressed substantial doubt about IVAX Diagnostics'
ability to continue as a going concern, following the Company's
2010 results.  The independent auditors noted that the Company
incurred a net loss of $4.2 million during the year ended Dec. 31,
2010, and used cash from operations of $1.9 million during the
year ended Dec. 31, 2010.

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

                       http://is.gd/QfZohB

Miami, Fla.-based IVAX Diagnostics, Inc. (NYSE Amex: IVD)
-- http://www.ivaxdiagnostics.com/-- through its subsidiaries,
develops, manufactures and markets diagnostic test kits, or
assays, and automated systems that are used to aid in the
detection of disease markers primarily in the areas of autoimmune
and infectious diseases.


JAM-TY INC: Case Summary & 10 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Jam-Ty, Inc.
        403 East Sixth Street, Suite 110
        Bloomington, IN 47408

Bankruptcy Case No.: 11-11601

Chapter 11 Petition Date: September 14, 2011

Court: United States Bankruptcy Court
       Southern District of Indiana (Indianapolis)

Judge: James K. Coachys

Debtor's Counsel: David R. Krebs, Esq.
                  HOSTETLER & KOWALIK P.C.
                  101 W. Ohio St. Suite 2100
                  Indianapolis, IN 46204
                  Tel: (317) 262-1001
                  Fax: (317) 262-1010
                  E-mail: dkrebs@hklawfirm.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 10 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/insb11-11601.pdf

The petition was signed by Barry A. Goff, chief executive officer.


JBI INC: Posts $6.5 Million Net Loss in Second Quarter
------------------------------------------------------
JBI, Inc., filed its quarterly report on Form 10-Q, reporting a
net loss of $6.5 million on $534,846 of sales for the three months
ended June 30, 2011, compared with a net loss of $1.9 million on
$2.1 million of sales for the same period last year.

For the six months ended June 30, 2011, the Company had a net loss
of $9.3 million on $1.1 million of sales for the three months
ended June 30, 2011, compared with a net loss of $5.1 million on
$4.1 million of sales for the same period of 2010.

The Company's balance sheet at June 30, 2011, showed $9.4 million
in total assets, $3.1 million in total liabilities, and
stockholders' equity of $6.3 million.

SCM LLP, in Toronto, Canada, expressed substantial doubt about
JBI's ability to continue as a going concern, following the
Company's 2010 results.  The independent auditors noted that of
the Company's recurring losses from operations and its dependency
on future financing.

A complete text of the Form 10-Q is available at:

                       http://is.gd/4Rtxkf

Thorold, Ontario-based JBI, Inc. (OTC QX: JBII)
-- http://www.plastic2oil.com/-- is an alternative oil and gas
company.  JBI developed a process that converts waste plastic into
fuel (Plastic20i1).


JOHN IRWIN: Family Members May Be Sued by Joseph Forte Receiver
---------------------------------------------------------------
Bankruptcy Judge Eric L. Frank granted, in part, and denied, in
part, a motion filed by Marion A. Hecht, the receiver for Joseph
Forte and Joseph Forte, L.P., for a declaration that the automatic
stay in the bankruptcy case of John Irwin does not apply and for
relief from the stay.  Judge Frank held that the automatic stay
does not apply to the claims the Receiver proposes to assert
against the Debtor's wife Lucy Irwin, in her individual capacity
and not as a tenant by the entireties, and the Debtor's daughters,
Karen McAteer, Nancy Phillips and Carole Sander, to recover
property the Debtor allegedly transferred to them.  But absent
further Court order, Judge Frank said the Receiver will not assert
any claim against the Non-Debtor Targets that a transfer from the
Debtor to any of them is avoidable under 12 Pa. C.S. Sections
5101-5110.  A copy of Judge Frank's Sept. 15, 2011 Order is
available at http://is.gd/7I2n3Pfrom Leagle.com.

John Irwin and Jacklin Associates, Inc., provided services to
Joseph Forte and Joseph Forte, L.P. over a 15-year period prior to
the commencement of the bankruptcy case.  For several of those
years, Forte was engaged in a Ponzi scheme.  Forte's activities
resulted in the appointment of the Receiver for both Joseph Forte
individually and his business entity.

Prior to Mr. Irwin's bankruptcy filing, the Receiver filed a
lawsuit asserting claims against the Debtor, seeking to recover
money or property that she contends the Debtor obtained through
his alleged participation in Forte's Ponzi scheme. That lawsuit is
stayed due to the Debtors' bankruptcy filing.  The Receiver has
filed a proof of claim in the Debtor's chapter 11 case in the
amount of "approximately $34 million", which makes her the largest
creditor in the bankruptcy case.

              About John Irwin and Jacklin Associates

John Irwin is an accountant and a principal of Jacklin Associates,
Inc., a company that provides accounting and business consulting
services.  Mr. Irwin is a 55% shareholder in Jacklin.

John Irwin and Jacklin Associates, Inc., filed for Chapter 11
bankruptcy (Bankr. E.D. Pa. Case Nos. 10-14407 and 10-14408) on
May 27, 2010.  Jeffrey Kurtzman, Esq., at Klehr, Harrison, Harvey,
Branzberg in Philadelphia, serves as the Debtors' counsel.  In his
petition, Mr. Irwin estimated $1 million to $10 million in assets,
and $10 million to $50 million in debts.  Jacklin disclosed
$798,095 in assets and $34,764,994 in debts in its schedules.


JJMM INTERNATIONAL: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: JJMM International Corporation
        31 Foxhurst Road
        Huntington Station, NY 11746

Bankruptcy Case No.: 11-76540

Chapter 11 Petition Date: September 14, 2011

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

Judge: Robert E. Grossman

Debtor's Counsel: James E Hurley, Jr., Esq.
                  LAW OFFICE OF JAMES E. HURLEY, JR., PLLC
                  75 Maiden Lane, Suite 210
                  New York, NY 10038
                  Tel: (212) 402-6822
                  Fax: (212) 402-6823
                  E-mail: Jim@JEHurleylaw.com

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

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

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

The petition was signed by Moae Chae, president.


K-V PHARMACEUTICAL: Seven Directors Elected at Annual Meeting
-------------------------------------------------------------
K-V Pharmaceutical Company, on Sept. 8, 2011, entered into an
Engagement Letter Agreement with Gregory S. Bentley, Esq., a
member of the Board of Directors of the Company.  The Agreement is
for Mr. Bentley to serve as outside legal counsel to the Company
on certain matters related to Makena and other legal matters that
may be agreed upon from time to time.  The legal advice and
services will be billed at an hourly rate of $350.  Mr. Bentley
also will be entitled to reimbursement for related out-of-pocket
expenses.  The Agreement may be terminated at any time by either
party.

At a Board of Directors meeting held on Sept. 8, 2011, the
Company's Board of Directors approved the recommendation of its
Compensation Committee that the Company grant discretionary
bonuses to: Gregory J. Divis, President and Chief Executive
Officer of the Company, in the amount of $130,000; and Thomas S.
McHugh, Chief Financial Officer and Treasurer of the Company, in
the amount of $75,000.  Also in accordance with the recommendation
of the Compensation Committee, the Board of Directors elected not
to increase the base salary of any executive officer of the
Company.

At the Annual Meeting of Company Stockholders held on Sept. 8,
2011, the stockholders: (1) elected Robert E. Baldini, Gregory S.
Bentley, Mark A. Dow, David S. Hermelin, Joseph D. Lehrer, David
Sidransky, M.D., and Ana I. Stancic to serve as directors with
terms expiring at the Annual Meeting of Stockholders to be held in
2012; (2) approved the K-V Pharmaceutical Company Long-Term
Incentive Plan; (3) approved the advisory resolution on the
compensation of executive officers; (4) adopted one year as the
frequency of shareholder votes on executive compensation; and (5)
ratified the appointment of the independent registered public
accounting firm, BDO USA, LLP, as the Company's registered
independent accounting firm for the fiscal year ending March 31,
2012.

                  About KV Pharmaceutical Company

KV Pharmaceutical Company (NYSE: KVa/KVb) --
http://www.kvpharmaceutical.com/-- is a fully integrated
specialty pharmaceutical company that develops, manufactures,
markets, and acquires technology-distinguished branded and
generic/non-branded prescription pharmaceutical products.  The
Company markets its technology distinguished products through
ETHEX Corporation, a subsidiary that competes with branded
products, and Ther-Rx Corporation, the company's branded drug
subsidiary.

KV Pharmaceutical has not timely filed its Form 10-K for the year
ended March 31, 2010 and its Form 10-Qs for the subsequent
quarterly periods.  The Company's independent accounting firm,
KPMG, resigned on June 25, 2010, and the Company has tapped BDO
USA, LLP, to audit the fiscal 2010 financial statements.  The Form
10-Q for the quarter ended June 30, 2010, was only filed March 10,
2011.

The Company's balance sheet at Dec. 31, 2010, showed
$296.21 million in total assets, $529.66 million in total
liabilities, and a $233.45 million shareholders' deficit.

There is substantial doubt about the Company's ability to continue
as a going concern.  The report of the Company's independent
registered public accountants BDO USA, LLP, included in the
Company's Annual Report on Form 10-K for the fiscal year ended
March 31, 2010, includes an explanatory paragraph related to the
Company's ability to continue as a going concern.

The Company incurred a net loss of $283.61 million on
$152.22 million of net revenue for 12 months ended March 31, 2010,
compared with a net loss of $313.63 million on $312.33 million of
revenue in the same period in fiscal 2009.  The Company reported a
net loss of $34.60 million on $3.38 million of net revenue for
three months ended June 30, 2010, compared with a net loss of
$53.95 million on $6.30 million of revenue in the same period in
2009.


KITTS DEVELOPMENT: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Kitts Development LLC
        a New Mexico Domestic Limited Liability Company
        7820 Enchanted Hills Blvd. A-136
        Rio Rancho, NM 87144

Bankruptcy Case No.: 11-14054

Chapter 11 Petition Date: September 13, 2011

Court: United States Bankruptcy Court
       New Mexico (Albuquerque)

Judge: Robert H. Jacobvitz

Debtor's Counsel: William F. Davis, Esq.
                  WILLIAM F. DAVIS & ASSOCIATES, P.C.
                  6709 Academy NE, Suite A
                  Albuquerque, NM 87109
                  Tel: (505) 243-6129
                  Fax: (505) 247-3185
                  E-mail: daviswf@nmbankruptcy.com

Scheduled Assets: $1,385,261

Scheduled Debts: $11,469,939

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/nmb11-14054.pdf

The petition was signed by Thomas G. Joseph, managing member.


KTLA LLC: Court Denies Secured Creditors' Case Dismissal Motion
---------------------------------------------------------------
The Hon. Thomas E. Carlson of the U.S. Bankruptcy Court for the
Northern District of California denied the motion to dismiss the
Chapter 11 case of KTLA, LLC.

On Aug. 2, 2011, secured creditors Pacific 1209 Lake, LLC, Pacific
1200 Hoover, LLC, Pacific 709 Mariposa, LLC and Pacific 720
Normandie, LLC, asked the Court to dismiss the Debtor's case
because:

   -- the case was commenced in bad faith;

   -- the case is not appropriate use of the Bankruptcy Code; and

   -- the Debtor will be unable to effectuate a plan.

The Court also advised the Debtor to file a status report not
later than Oct. 14, 2011, to advise the Court regarding its
compliance with the cash collateral stipulation, the marketing of
the properties, and other matters regarding the administration of
the case.  These matters will be considered at an Oct. 21, status
hearing.

The secured creditors are represented by:

         Randy P. Orlik, Esq.
         Susan S. Davis, Esq.
         COX, CASTLE & NICHOLSON LLP
         2049 Century Park East, 28th Floor
         Los Angeles, CA 90067-3284
         Tel: (310) 277-4222
         Fax: (310) 277-7889
         E-mail: rorlik@coxcastle.com

                          About KTLA LLC

San Francisco, California-based KTLA LLC filed for Chapter 11
bankruptcy (Bankr. N.D. Calif. Case No. 11-32401) on June 27,
2011.  Judge Thomas E. Carlson presides over the case.  Reno F.R.
Fernandez, Esq., at MacDonald and Assoc.  Iain A. Macdonald, Esq.,
and Reno F.R. Fernandez, Esq. -- iain@macdonaldlawsf.com and
r.fernandez@macdonaldlawsf.com -- at Macdonald and Associates,
serve as bankruptcy counsel.  KTLA disclosed $25,543,987 in assets
and $18,798,387 in liabilities as of the Chapter 11 filing.  The
petition was signed by Graham Seel, SVP, California Mortgage and
Realty.


LAGOON ROAD: Case Summary & 13 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Lagoon Road Associates, LLC
        P.O. Box 6992
        Hilton Head Island, SC 29938

Bankruptcy Case No.: 11-05685

Chapter 11 Petition Date: September 13, 2011

Court: United States Bankruptcy Court
       District of South Carolina (Charleston)

Judge: John E. Waites

Debtor's Counsel: Robert G. Sable, Esq.
                  LAW OFFICE OF MICHAEL W. MOGIL, PA
                  2 Corpus Christie Place, Suite 303
                  Hilton Head Island, SC 29928
                  Tel: (843) 785-8110
                  E-mail: rsable@mogillaw.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 13 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/scb11-05685.pdf

The petition was signed by Barbara J. Maniotis, vice president.

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
It's Greek to Me, Inc.                 11-05686   09/13/11
Maniotis, Vassilios and Maniotis,
  Barbara Jean                         11-05684   09/13/11


LAS VEGAS HILTON: Lenders Seek Receivership for Firm
----------------------------------------------------
Dow Jones' DBR Small Cap reports that lenders Gramercy Capital
Corp. and Goldman Sachs Group have asked that the fabled Las Vegas
Hilton casino hotel, which is in default on its $250 million
mortgage, be put into receivership.

Las Vegas, Nev.-based Colony Resorts LVH Acquisitions, LLC, owns
and operates the Las Vegas Hilton, a casino resort located in Las
Vegas, Nevada.  The Company licenses from HLT Existing Franchise
Holding LLC the right to use the name "Hilton" and is part of
Hilton's reservation system and Hilton's "HHonors Programs(TM)."


LEO MOTORS: Posts $227,300 Net Loss in Second Quarter
-----------------------------------------------------
Leo Motors, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $227,325 on $4,377 of sales for the three
months ended June 30, 2011, compared with a net loss of $455,094
on $554,159 of sales for the same period last year.

For the six months ended June 30, 2011, the Company had a net loss
of $288,337 on $252,555 of sales for the six months ended June 30,
2011, compared with a net loss of $3.1 million on $566,622 of
sales for the same period of 2010.

The Company's balance sheet at June 30, 2011, showed $7.2 million
in total assets, $4.4 million in total liabilities, and
stockholders' equity of $2.8 million.

"Although in the future we intend to fund our liquidity
requirements through a combination of cash on hand and revenues
from operations, during the quarter ended June 30, 2011, the
Company had realized a net loss of $206,052 from operations," the
Company said in the filing.  "Accordingly, our ability to initiate
our plan of operations and continue as a going concern is
currently dependent on our ability to either generate significant
new revenues or raise external capital."

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

                       http://is.gd/g65QX0

Based in Hanam City, Gyeonggi-do, Republic of Korea, Leo Motors,
Inc., was originally incorporated as Classic Auto Accessories, a
California corporation on July 2, 1986.  The Company then
underwent several name changes from FCR Automotive Group, Inc., to
Shinil Precision Machinery, Inc., to Simco America Inc. and then
to Leo Motors.  The Company is currently in the process of
development and production of Electric Power Train Systems
("EPTS") encompassing electric scooters, electric
sedans/SUVs/sports cars, and electric buses/trucks as well as
several models of Electric Vehicle ("EV"). Its EPTS can replace
internal combustion engines ("ICEs").


LINDEN PONDS: Files Schedules of Assets and Liabilities
-------------------------------------------------------
Linden Ponds, Inc., filed with the U.S. Bankruptcy Court for the
Northern District of Texas its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                   Unknown
  B. Personal Property           $32,785,583
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                              $420,292,666
  E. Creditors Holding
     Unsecured Priority
     Claims                                        $1,757,261
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                          $903,957
                                 -----------      -----------
        TOTAL                    $32,785,583     $422,953,884

Debtor-affiliate Hingham Campus, LLC, also filed its schedules
disclosing $1,766,655 in assets and $332,740,965 in liabilities as
of the Chapter 11 filing.

                        About Linden Ponds

Linden Ponds Inc. operates a 108-acre continuing care retirement
community located at 300 Linden Ponds Way in Hingham,
Massachusetts.  The facility has 988 independent living units
(with an occupancy rate of 87.9%) and 132 skilled nursing beds
(68% occupancy rate).

Linden Ponds leases the facility and the property upon which it is
built from Hingham Campus LLC.  Hingham is the owner of the
facility and owns the fee simple interest in the property upon
which the facility is built.  Senior Living Retirement
Communities, LLC, formerly known as Erickson Retirement
Communities, LLC, owns 100% of the membership interests in
Hingham.

Hingham Campus and Linden Ponds filed a pre-negotiated Chapter 11
petition (Bankr. N.D. Tex. Lead Case No. 11-33912) in Dallas on
June 15, 2011.  Hingham Campus estimated assets and debts of $100
million to $500 million.  Debt includes $156.4 million owing on
bonds issued by the Massachusetts Development Finance Agency, with
Wells Fargo Bank, National Association, as the bond trustee.

Erickson Retirement Communities sought bankruptcy protection
(Bankr. N.D. Tex. Case No. 09-37010) on Oct. 19, 2009.  Erickson,
the owner of 20 senior living facilities, won approval of its
reorganization plan in April 2010.  The Erickson plan provided for
a sale to Redwood Capital, the highest bidder at the auction in
December 2009.  Redwood won the auction with an all-cash bid of
$365 million.

The DLA Piper team led by Thomas R. Califano (New York), George
South (New York), Vince Slusher (Dallas), Jason Karaffa (New York)
and Andy Zollinger (Dallas) represent Hingham in the Chapter
11 case.  Attorneys at McGuire, Craddock & Strother, P.C., and
Whiteford, Taylor And Preston, L.L.P., represent Linden Ponds.
Hingham Campus, LLC and Linden Ponds, Inc., won approval of their
disclosure statement and confirmation of their plan of
reorganization on Aug. 18, 2011.


LOAN EXCHANGE: Case Summary & 14 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Loan Exchange Group, a California General Partnership
        100 N. Westlake Boulevard, #203
        Westlake Village, CA 91362

Bankruptcy Case No.: 11-21085

Chapter 11 Petition Date: September 16, 2011

Court: U.S. Bankruptcy Court
       Central District of California (San Fernando Valley)

Debtor's Counsel: Marc A. Duxbury, Esq.
                  COUNTY LAW CENTER
                  1901 Camino Vida Roble, Suite 114
                  Carlsbad, CA 92008
                  Tel: (760) 438-5291
                  E-mail: info@countylawcenter.com

Scheduled Assets: $12,050,570

Scheduled Debts: $5,170,968

The petition was signed by Roger S. McCurdy, managing general
partner.

Debtor's List of 14 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
S & S Land Development             --                     $548,965
21 West Laurel Drive, #49
Salinas, CA 93906

Raylene Miracle                    --                     $327,206
4 Seaside Circle
Newport Beach, CA 92662

HP Gottschal                       --                     $300,000
100 N. Westlake Boulevard, Suite 203
Westlake Village, CA 91361

James Pettit                       4th Deed of Trust      $280,000
516 Dolan Road
Moss Landing, CA 93950

WP Gottschalk                      --                     $200,000

Henry Kurtz, CPA                   --                     $110,000

Elizabeth Derry                    --                      $70,000

Bohnen, Rosenthal & Kreeft         Legal Fees              $53,119

Susan Frankilin                    --                      $20,000

Deborah Cutler                     Judgment                $11,678

Hemraj D. Singh                    3rd Deed of Trust            $0

Anthony Lewis                      3rd Deed of Trust            $0

Elkhorn Land Co.                   2nd Deed of Trust            $0

Rubicon Mortgage Fund LLC          1st Deed of Trust            $0


LOCAL INSIGHT: Seeks Nod of Transition Agreement Term Sheet
-----------------------------------------------------------
BankruptcyData.com reports that Local Insight Media Holdings
(LIMI) filed with the U.S. Bankruptcy Court a motion for an order
approving (A) the transition agreement term sheet; (B) assumption
of The Berry-CSID Agreement, rejection of the AXESA-Berry
Agreement and rejection of the Subcontract Agreement and (C) entry
into the management transition agreement.

According to BData, the term sheet sets out the principal terms
and conditions of a comprehensive global settlement with LIMI and
the CMI Silo and provides for the disentanglement of the Debtors
from the LIMI and CMI Silos, termination or amendment of various
inter-company contracts and resolution of various inter-company
claims.

The Court scheduled a Sept. 20, 2011 hearing on the matter.

                        About Local Insight

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

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

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

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

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

As reported in the TCR on Aug. 16, 2011, Debtors filed a plan of
reorganization (the "Plan").  The Plan has the support of the
steering committee of the Company's pre-petition senior secured
lenders.

As reported in the TCR on Sept. 5, 2011, the Hon. Kevin Gross for
the U.S. Bankruptcy Court for the District of Delaware will
convene a hearing on Sept. 20, 2011, at 10:00 a.m. (prevailing
Eastern Time), to consider adequacy of the Disclosure Statement
explaining the Debtors' Chapter 11 Plan.  Objections, if any, are
due Sept. 12, at 4:00 p.m.


LOS GATOS: Hearing on Exclusivity Extensions Slated for Oct. 21
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of California
will convene a hearing on Oct. 15, 2011, at 1:15 p.m., to consider
Los Gatos Hotel Corporation's request for extension in its
exclusive solicitation period.

The Debtor requested that the Court extend its exclusive right to
obtain acceptances of a plan of reorganization until Dec. 30,
2011.  The Debtor explained that the extension does not violate
Section 1121(d)(2)(B) of the Bankruptcy Code because the order for
relief in its case was entered on Dec. 27, 201[0].

As reported in the Troubled Company Reporter on Aug. 4, 2011, the
Debtor's Plan will be funded by cash on hand and the payments to
be received by the Debtors from the operation of the Hotel Los
Gatos after the Effective Date.  Under the Plan, holders of
allowed secured and unsecured claims will be paid over time from
hotel revenue.

The classification and treatment of claims and interests under the
Plan are:

     A. Unclassified Claims (U.S. Trustee Fees, Professional Fee
        Expenses, Ordinary Course Administrative Expenses,
        Non-Ordinary Course Administrative Expenses and Priority
        Tax Claims is unimpaired and will be paid in full in cash.

     B. Class 1 (Secured Tax Claims) is impaired.  The Reorganized
        Debtor will pay the claim in Cash on the later of 45 days
        after the Effective Date or the last day that such Allowed
        Secured Tax Claim would have been due, without payment of
        penalty or interest, under applicable non-bankruptcy law.

     C. Class 2 (Secured Claim Held by GCCFC 2006-GG7 Los Gatos
        Lodging Limited Partnership) is impaired.  Although Class
        2 claims will be paid in full over time pursuant to the
        provisions of the Plan.

     D. Class 3 (Priority Unsecured Claims) is unimpaired.  These
        claims consists of gift certificates and customer
        deposits, will be honored upon presentation.

     E. Class 4 (General Unsecured Claims) is impaired will be
        paid over 24 months, starting 7 months after Effective
        Date, with 3% interest.

     F. Class 5 (Unsecured Claims Held by Insiders) is impaired
        and will be paid in installments following payment of
        other Allowed Claims.

     G. Class 6 (Existing Equity Interests) is unimpaired and
        holders retain all rights and interests in Reorganized
        Debtor.

A copy of the Disclosure Statement is available for free at:
http://bankrupt.com/misc/LOSGATOS_disclosurestatement.pdf

                       About Los Gatos Hotel

Los Gatos Hotel Corporation owns the Hotel Los Gatos, a Joie de
Vivre Hotel.  San Jose, California-based Los Gatos Hotel Corp. was
formed in 2000 to build and operate Hotel Los Gatos, a full-
service boutique hotel in downtown Los Gatos, California.

Los Gatos Hotel filed for Chapter 11 bankruptcy protection (Bankr.
N.D. Calif. Case No. 10-63135) on Dec. 27, 2010.  The Debtor
estimated its assets and debts at $10 million to $50 million.
Affiliate Blossom Valley Investors, Inc., filed a separate Chapter
11 petition (Bankr. N.D. Calif. Case No. 09-57669) on Sept. 10,
2009.  Jeffry A. Davis, Esq., at Mintz Levin Cohn Ferris Glovsky
Popeo, serves as the Debtors' bankruptcy counsel.


MADISON 92ND: Judge Taps Examiner to Launch Investigation in Case
-----------------------------------------------------------------
Dow Jones' DBR Small Cap reports that a judge directed an examiner
to explore the best route to reorganization for hotel owner
Madison 92nd Street Associates LLC amid a rift between two
investor groups.

                        About Madison 92nd

Madison 92nd Street Associates, LLC, owns real property improved
by a hotel located at 410 East 92nd Street, New York, known as the
Upper East Side Courtyard by Marriott.  It filed for Chapter 11
bankruptcy protection as lender General Electric Capital Corp.,
owed $74 million, has scheduled a foreclosure sale for Aug. 24,
2011.  The petition (Bankr. S.D.N.Y Case No. 11-13917) was filed
Aug. 16, 2011, before Judge Stuart M. Bernstein.  J. Ted Donovan,
Esq., at Goldberg Weprin Finkel Goldstein LLP, serves as the
Debtor's counsel.  It scheduled $84,471,069 in assets and
$75,398,580 in debts. The petition was signed by Louis Taic,
managing member of 92nd Hotel Associates, LLC and Jeffrey Kosow,
managing member of JKNY, LLC, members of the Debtor.

Courtyard Management Corporation, which manages and operates the
hotel pursuant to a management agreement, is represented by:

         Thomas R. Califano, Esq.
         William M. Goldman, Esq.
         DLA PIPER LLP (US)
         1251 Avenue of the Americas
         New York, NY 10020
         Telephone: (212) 335-4500
         Facsimile: (212) 335-4501
         E-mail: william.m.goldman@dlapiper.com
                 thomas.califano@dlapiper.com


MADISON HOTEL: Plan Disclosures Hearing for Sept. 26
----------------------------------------------------
Judge Martin Glenn of the U.S. Bankruptcy Court for the Southern
District of New York scheduled a hearing to consider adequacy of
the amended disclosure statement explaining Madison Hotel, LLC and
Madison Hotel Owners, LLC's proposed Plan of Reorganization for
September 26, 2011 at 3:00 p.m.

The Court also entered a scheduling order agreed by the Debtors
and their senior lenders 62 Madison Lender, LLC and Nomad Mezz
Lending, LLC concerning the Plan.

In order to conduct an orderly confirmation process, the parties
will pursue these deadlines:

   (1) The deadline for the Debtors to file and serve upon the
       appropriate parties a proposed Amended Disclosure Statement
       with all accompanying solicitation materials, exhibits, and
       a proposed form of voting ballot is August 25, 2011;

   (2) The deadline for filing any objection to the Amended
       Disclosure Statement and the Senior Lenders' Motion to
       Terminate Exclusivity is September 20, 2011;

   (3) The parties may commence discovery immediately, but the
       deadline for serving interrogatories, requests for
       production of documents, and requests for admissions will
       by October 12, 2011 and all discovery, including all
       depositions, will be completed no later than November 2,
       2011.

   (4) To the extent approved by the Court, the Amended Disclosure
       Statement and all accompanying solicitation materials,
       exhibits, and the approved form of voting ballot will be
       served upon all parties entitled to notice on or before
       October 4, 2011;

   (5) The parties will disclose the identity of the expert
       witnesses that will testify at the confirmation hearing and
       will exchange the report for each witness required under
       Rule 26 of the Federal Rules of Bankruptcy Procedure on or
       before October 19, 2011 at 4:30 p.m.  No rebuttal reports
       will be required and no rebuttal expert witnesses will be
       permitted to testify, except that the expert witnesses
       identified by the parties on or before October 19, 2011
       will be permitted to testify in rebuttal at the
       confirmation hearing;

   (6) The deadline for filing any objection to the proposed Plan
       of Reorganization will be Nov. 7, 2011; and

   (7) A hearing on the confirmation of the proposed Plan of
       Reorganization will be conducted on Nov. 14, 2011,
       beginning at 2:00 p.m., through Nov. 15, 2011 beginning
       at 9:00 a.m.

                       About Madison Hotel

Madison Hotel, LLC, owns the 72 room 12-story hotel located at 62
Madison Avenue, New York, New York.  Madison Hotel Owners LLC owns
100% of the membership interests of Madison Hotel, LLC.  The
Debtors estimate that the value of the hotel property is
$32 million.  An appraisal is pending.

Prepetition, after a building loan went into arrears, a
foreclosure action was commenced, and a receiver appointed.   The
receiver has continued to operate the hotel postpetition.

Madison Hotel, LLC, based in New York, filed for Chapter 11
bankruptcy (Bankr. S.D.N.Y. Case No. 11-12560) on May 27, 2011.
Judge Martin Glenn presides over the case.  Mark A. Frankel, Esq.,
at Backenroth Frankel & Krinsky, LLP, serves as bankruptcy
counsel.  In its schedules, the Debtor disclosed $33.6 million in
assets and $26.1 million in liabilities as of the Chapter 11
filing.


MANISTIQUE PAPERS: To Employ Vector Consulting as Fin'l Advisor
---------------------------------------------------------------
Manistique Papers, Inc. seeks permission from the U.S. Bankruptcy
Court for the District of Delaware to employ Vector Consulting,
L.L.C. as its financial advisor, nunc pro tunc to August 12, 2011.

As the Debtor's financial advisor, Vector Consulting will:

   (a) assist the Debtor in preparation of cash flow and financial
       projections;

   (b) advise the Debtor in connection with any disposition of its
       assets;

   (c) advise the Debtor with respect to its financial
       relationship with creditors; and

   (d) take all necessary steps and provide consulting services
       appropriate to the Debtor's efforts to maximize the value
       of its assets and estate.

The Debtor will pay Michael Baratta, who will serve as the
principal on this engagement, his hourly rate of $285.  The Debtor
will also reimburse Vector Consulting for expenses incurred.

The Debtor disclosed that it paid Vector Consulting a prepetition
retainer of $18,000 for consulting services in connection with
this Chapter 11 case.  In August 2011, Vector Consulting returned
$13,317 of the advance after an invoice totaling $4,682 for
payment of services rendered and expenses incurred up to the
Petition Date.  The Debtor has also paid Vector Consulting after
the Petition Date $13,317.

Mr. Baratta insists that Vector Consulting is a "disinterested
person" as the term is defined under Section 101(14) of the
Bankruptcy Code.

                      About Manistique Papers

Manistique Papers Inc. operates a landfill in Manistique,
Michigan, whereby residuals resulting from paper production are
deposited.  Manistique Papers filed for Chapter 11 bankruptcy
protection (Bankr. D. Del. Case No. 11-12562) on Aug. 12, 2011.
Daniel B. Butz, Esq., and Eric D. Schwartz, Esq., at Morris,
Nichols, Arsht & Tunnell LLP, serves as the Debtor's bankruptcy
counsel.  Manistique Papers estimated assets of $10 million to
$50 million and debts of $50 million to $100 million in its
Chapter 11 petition.


MARISCOS ENSENADA: Case Summary & 8 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Mariscos Ensenada Restaurant, Inc.
        3622 W. 5th Street
        Santa Ana, CA 92703

Bankruptcy Case No.: 11-22845

Chapter 11 Petition Date: September 13, 2011

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

Debtor's Counsel: Rick Gaxiola, Esq.
                  LAW OFFICES OF RICK GAXIOLA
                  8556 Nuevo Avenue
                  Fontana, CA 92335
                  Tel: (909) 356-9596
                  Fax: (909) 385-1065
                  E-mail: gaxlaw@charter.net

Scheduled Assets: $32,450

Scheduled Debts: $1,225,896

A list of the Company's eight largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/cacb11-22845.pdf

The petition was signed by Maria Ramos, president.


MARIZONA INC: Case Summary & Largest Unsecured Creditor
-------------------------------------------------------
Debtor: Marizona, Inc.
        13500 SW 72nd Ave., Suite 210
        Portland, OR 97223

Bankruptcy Case No.: 11-37931

Chapter 11 Petition Date: September 13, 2011

Court: United States Bankruptcy Court
       District of Oregon

Judge: Trish M. Brown

Debtor's Counsel: Bradley O. Baker, Esq.
                  15545 Village Park Ct
                  Lake Oswego, OR 97034
                  Tel: (503) 697-0557
                  E-mail: bradleyo10@msn.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
------                   ---------------        ------------
Doty and Co               Accounting Services    $8,215
Attn Alex Miller
1515 Liberty St SE
Salem, OR 97302

The petition was signed by Mark Zimel, president.


MEDICURE INC: Files Copy of Birmingham Debt Settlement Agreement
----------------------------------------------------------------
Medicure Inc. filed with the U.S. Securities and Exchange
Commission a copy of its Debt Settlement Agreement with Birmingham
Associates Ltd.  As previously reported by the TCR on July 25,
2011, the Company, among other things, settled the debt of
US$32,839,659 owing to Birmingham in exchange for these
consideration: (i) C$5 million in cash (less certain costs not to
exceed $250,000); (ii) 32,640,043 common shares of the Company;
and (iii) the granting of a royalty in AGGRASTAT(R) sales.  A
full-text copy of the Debt Settlement Agreement is available for
free at http://is.gd/RjEMCO

                        About Medicure Inc.

Based in Winnipeg, Manitoba, Canada, Medicure Inc. (TSX/NEX:
MPH.H) -- http://www.medicure.com/-- is a biopharmaceutical
company engaged in the research, development and commercialization
of human therapeutics.  The Company has rights to the commercial
product, AGGRASTAT(R) Injection (tirofiban hydrochloride) in the
United States and its territories (Puerto Rico, U.S. Virgin
Islands, and Guam).  AGGRASTAT(R), a glycoprotein GP IIb/IIIa
receptor antagonist, is used for the treatment of acute coronary
syndrome (ACS) including unstable angina, which is characterized
by chest pain when one is at rest, and non-Q-wave myocardial
infarction.

At Feb. 28, 2011, the Company's consolidated balance sheets
showed C$5.7 million in total assets, C$30.7 million in total
liabilities, all current, and a shareholders' deficit of
$25.0 million.

As reported in the Troubled Company Reporter on Oct. 4, 2010,
KPMG LLP, in Winnipeg, Canada, expressed substantial doubt about
Medicure's ability to continue as a going concern, following its
results for the fiscal year ended May 31, 2010.  The independent
auditors noted that the Company has experienced operating losses
and cash flows from operations since incorporation and has
significant debt servicing obligations that it does not have the
ability to repay.


MERRITT AND WALDING: Has Interim OK to Use Bryant Cash Collateral
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Alabama
approved, on an interim basis, the stipulation authorizing Merritt
and Walding Properties, LLP, to use secured creditor Bryant Bank's
cash collateral.

Previously, Bryant Bank filed an emergency motion to prohibit the
Debtor to use the cash collateral or, in the alternative, for
adequate protection.

The final hearing on the Debtor's access to the cash collateral
will be held at 8:30 a.m. on Sept. 27, 2011.  Objections, if any,
are five business days before the final hearing.

As reported in the Troubled Company Reporter on July 5, 2011,
Bryant Bank is owed approximately $1,267,335, comprised of a
principal balance of $1,249,805, accrued interest of $16,279 and
late charges of $1,250, as of the Petition Date, secured by, among
other things, certain of the Debtor's personal property, and a
first priority mortgage lien in the Debtor's properties located in
Mobile, Alabama, and Prichard, Alabama, including all leases,
rents, cash and accounts receivable, subject to Bryant's security
interest.  The obligations are also unconditionally guaranteed by
Merritt Oil Co., Inc., Fred Raymond Walding and Richard T.
Merritt.

The Debtor and Bryant Bank entered into a stipulation providing
for either interim use of cash collateral and adequate protection
or the loan of funds by Bryant Bank to Debtor.

Under the stipulation,

   -- the parties agreed to reserve the determination of whether
      the rents are property of the estate until a later date;

   -- the parties have agreed to allow the Debtor to collect the
      rents owed for the month of September 2011;

   -- the Debtor may use a portion of the collected rents and said
      use will be premised upon use of the Debtor's cash
      collateral as an extension of debtor-in-possession financing
      by Bryant Bank from the proceeds of the rents;

   -- the Debtor is authorized to collect all rents, due and owing
      to Debtor or Bryant until Sept. 30;

   -- from the rents for September 2011, collected by the Debtor,
      Debtor will retain $920 to pay ad valorem taxes on the
      mortgage collateral and $722 for insurance on the mortgage
      collateral;

   A payment of $10,000 will be paid to Bryant Bank by Sept. 15,
   to be applied against the Bryant Bank Indebtedness in Bryant
   Bank's sole discretion.  The balance of the September 2011
   rents after paying the expenses and the payment will be
   available for use by the Debtor in the ordinary course of its
   business.

   -- Bryant Bank will be provided adequate protection through: 1)
   the payment; 2) payment of the Expenses; and 3) a valid,
   binding, enforceable and perfected lien on, interest in, and
   assignment in favor of Bryant Bank in the amount of the balance
   for all of Debtor's postpetition cash, accounts, receivables,
   or other rights to payment, and the proceeds thereof, received
   or to be received by the Debtor from the mortgage collateral,
   or any other source, person or entity.  The postpetition lien
   will be subordinate only to all valid, perfected and
   enforceable postpetition liens existing effective as of the
   Petition Date.

               About Merritt and Walding Properties

Merritt and Walding Properties, LLP, in Pt. Clear, Alabama, filed
for Chapter 11 bankruptcy (Bankr. S.D. Ala. Case No. 11-02322) on
June 10, 2011.  Irvin Grodsky, P.C., serves as the Debtor's
bankruptcy counsel.  The Debtor disclosed $6,166,757 in assets and
$7,685,591 in liabilities as of the Chapter 11 filing.  The
petition was signed by Richard T. Merritt and R. Fred Walding, as
general partners.

An affiliate of the debtor, Richard T. Merritt (Bankr. S.D. Ala.
Case No. 11-00380) filed for bankruptcy on Feb. 1, 2011.

An Official Committee of Unsecured Creditors has not been
appointed in the case.


MERRITT AND WALDING: Cash Collateral Deal with Merchants Bank OK'd
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Alabama, in
a minute entry for the hearing held Sept. 13, 2011, approved the
agreement authorizing Merritt and Walding Properties, LLP, to use
Merchants Bank's cash collateral.  The cash collateral order is
due Sept. 27.

The agreement provided that:

   1. Merchants holds a first mortgage on three properties which
the Debtor utilizes in its business operations.  Each mortgage
contains an assignment of rents provision which extends to the
postpetition rents collected by the Debtor.

   2. As adequate protection of the Bank's interest in the
properties and the rents generated therefrom the Debtor will: (a)
pay the $13,500 to the Bank for the months of June and July 2011;
and (b) pay to the Bank $10,532 for the month of August 2011, and
the same amount on or before the tenth day of each month
thereafter, to and including Dec. 10, 2011.

   3. The Debtor will comply with all obligations and provisions
of the mortgages and assignments of rents with respect to the
properties not modified by order of the Court.

   4. The Debtor will maintain all property, liability and
other insurance coverage as required by the mortgages.

               About Merritt and Walding Properties

Merritt and Walding Properties, LLP, in Pt. Clear, Alabama, filed
for Chapter 11 bankruptcy (Bankr. S.D. Ala. Case No. 11-02322) on
June 10, 2011.  Irvin Grodsky, P.C., serves as the Debtor's
bankruptcy counsel.  The Debtor disclosed $6,166,757 in assets and
$7,685,591 in liabilities as of the Chapter 11 filing.  The
petition was signed by Richard T. Merritt and R. Fred Walding, as
general partners.

An affiliate of the debtor, Richard T. Merritt (Bankr. S.D. Ala.
Case No. 11-00380) filed for bankruptcy on Feb. 1, 2011.

An Official Committee of Unsecured Creditors has not been
appointed in the case.


MGDC DEVELOPMENT: Case Summary & Largest Unsecured Creditor
-----------------------------------------------------------
Debtor: MGDC Development Corp.
        85932 Overseas Highway
        Islamorada, FL 33036

Bankruptcy Case No.: 11-35524

Chapter 11 Petition Date: September 14, 2011

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

Judge: Robert A. Mark

Debtor's Counsel: Peter D. Spindel, Esq.
                  P.O. Box 166245
                  Miami, FL 33116
                  Tel: (786) 517-4229
                  E-mail: peterspindel@gmail.com

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

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

The petition was signed by Kevin M. McGuire, president.

The list of unsecured creditors filed together with its petition
contains only one entry:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
IRS                                Taxes                    $2,000
Insolvency Support Group
P.O. Box 7346
Phildelphia, PA 19101-7346


MOUNTAIN NATIONAL: Posts $21.8 Million Net Loss in Second Quarter
-----------------------------------------------------------------
Mountain National Bancshares, Inc., filed its quarterly report on
Form 10-Q, reporting a net loss of $21.85 million on net interest
income of $3.31 million for the three months ended June 30, 2011,
compared with net income of $142,286 on net interest income of
$3.16 million for the same period of 2010.

For the six months ended June 30, 2011, the Company had a net loss
of $25.23 million on net interest income of $6.45 million,
compared with net income of $471,400 on net interest income of
$6.29 million for the corresponding period last year.

Provision for loan losses was $17.36 million and $334,400 for the
three months ended June 30, 2011, and 2010, respectively, and
$20.36 million and $546,700 for the six months ended June 30,
2011, and 2010, respectively.

The Company's balance sheet at June 30, 2011, showed
$521.40 million in total assets, $509.90 million in total
liabilities, and stockholders equity of $11.50 million.

The Company and its principal subsidiary, Mountain National Bank,
are subject to various regulatory capital requirements
administered by the federal banking agencies.

In February 2010, the Bank agreed to an Office of the Comptroller
of the Currency ("OCC") minimum capital requirement ("IMCR") to
maintain a minimum Tier 1 capital to average assets ratio of 9%
and a minimum total capital to risk-weighted assets ratio of 13%.

The Bank had 4.61% of Tier 1 capital to average assets and 7.69%
of total risk-based capital to risk-weighted assets ratio at
June 30, 2011, and was therefore not in compliance with the IMCR.
As a result, the OCC may bring additional enforcement actions,
including a consent order or a capital directive, against the
Bank.

Based upon its capital levels at June 30, 2011, the Bank's capital
shortfall was approximately $23,374,000 for the Tier 1 capital to
average assets requirement and approximately $20,342,000 for the
total capital to risk-weighted assets requirement.

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

                       http://is.gd/dgD5YG

Mountain National is a bank holding company registered with the
Board of Governors of the Federal Reserve System under the Bank
Holding Company Act of 1956, as amended.  The Company provides a
full range of banking services through its banking subsidiary,
Mountain National Bank.

The Company conducts its banking activities from its main office
located in Sevierville, Tennessee and through eight additional
branch offices in Sevier County, Tennessee, as well as a regional
headquarters and two branch offices in Blount County, Tennessee.


N.A. PETROLEUM: Judge Approves $98 Million Ch. 11 Settlement
------------------------------------------------------------
Carolina Bolado at Bankruptcy Law360 reports that U.S. Bankruptcy
Judge Christopher S. Sontchi on Wednesday signed off on North
American Petroleum Corp.'s Chapter 11 plan that hinged on a
$98 million settlement with its lenders and its business partner,
Equal Energy Inc.

Law360 relates that Judge Sontchi approved the gas producer's
reorganization plan and smoothed over an objection by the Internal
Revenue Service by clarifying that nothing in the plan would
prevent the government from pursuing federal tax liabilities.

                   About North American Petroleum

Denver, Colorado-based North American Petroleum Corp. USA is a
natural gas driller.  North American Petroleum and Prize Petroleum
are subsidiaries of Petroflow Energy Ltd.  North American
Petroleum sought Chapter 11 protection (Bankr. D. Del. Case No.
10-11707) on May 25, 2010.  In its schedules, North American
Petroleum disclosed $140,678,983 in total assets and $125,595,183
in total liabilities as of the Petition Date.

The Debtor's affiliate, Prize Petroleum LLC, filed a separate
Chapter 11 petition on May 25, 2010 (Case No. 10-11708).  Prize
Petroleum scheduled $121,945,092 in liabilities.

These cases are being jointly administered for procedural
purposes, under the case docket for North American Petroleum
Corporation USA, Case No. 10-11707.

On Aug. 20, 2010, Petroflow Energy Ltd., the parent company of
North American Petroleum Corporation USA and Prize Petroleum, LLC,
filed a petition in the U.S. Bankruptcy Court for the District of
Delaware seeking relief under Chapter 11 of the Bankruptcy Code
(Case No. 10-12608).  On Sept. 10, 2010, the Bankruptcy Court
granted permission for Petroflow's Chapter 11 case to be jointly
administered with those of its two Chapter 11 debtor-affiliates.
On Sept. 17, 2010, Petroflow received recognition of the U.S.
Chapter 11 proceedings from the Alberta Court of Queen's Bench
under the Companies' Creditors Arrangement Act in Canada.  In its
petition, Petroflow disclosed assets and debts of between
$100 million and $500 million each.

David R. Seligman, Esq., Ryan Blaine Bennett, Esq., and Paul
Wierbicki, Esq., at Kirkland & Ellis LLP, in Chicago, serve as
lead bankruptcy counsel.  Domenic E. Pacitti, Esq., at Klehr
Harrison Harvey Branzburg LLP in Wilmington, Del., and Morton R.
Branzburg, Esq., at Klehr Harrison Harvey Branzburg LLP, in
Philadephia, Pa., serve as the Debtors' co-counsel.  Epiq
Bankruptcy Solutions, LLC, is the Debtors' notice, claims and
balloting agent.


NAVIGATOR HOLDINGS: Completes $40MM Sale of Loan Portfolio
----------------------------------------------------------
Navigator Holdings LLC (Navigator) President Bobby Lazenby
announced the sale of nearly $40 million in subprime, asset-backed
loans.  The sale comes as an increasing number of investors look
to build balance sheets with high yielding assets.

After nearly three turbulent years, companies remaining in the
subprime industry have started to feel the benefits of expanded
credit.  In the last year, several start-ups have also found
capital and are aggressively trying to establish their own
footprint in the marketplace.

"I'm happy to say the subprime market has rebounded nicely over
the past year with fresh or renewed capital sources becoming
available to lenders.  We are seeing several industry players with
a strong desire to take advantage of what they believe is a void
in the marketplace.  This has created a fairly competitive
marketplace and has led to some of the strongest pricing in years
for subprime, asset-backed receivables," said Lazenby.

Navigator Holdings LLC is the result of a Chapter 13 bankruptcy
restructuring of Manchester Inc. Manchester, then a publicly
traded company, failed after less than a year of operations, but
not before acquiring four companies and well over $100 million in
assets.  In June 2008, Manchester emerged from bankruptcy, under
the direction of Bobby Lazenby, as the newly restructured
Navigator Holdings after the secured lenders agreed to a stock for
debt swap that left many of the unsecured creditors without
recourse.

Navigator Holdings owns and operates a captive finance company,
Navigator Acceptance. Navigator Acceptance specializes in
providing financing directly to those consumers with other than
prime credit.

                       About Manchester

Based in Dallas, Texas, Manchester Inc. (OTCBB: MNCS) --
http://www.manchesterinc.net/-- is in the Buy-Here/Pay-Here
auto business.  Buy-Here/Pay-Here dealerships sell and finance
used cars to individuals with limited credit histories or past
credit problems, generally financing sales contacts ranging from
24 to 48 months.  It operates six automotive sales lots, which
focus on the Buy-Here/Pay-Here segment of the used car market.

The company and its seven affiliates filed for Chapter 11
protection on Feb. 7, 2008 (Bankr. N.D. Tex. Case No.08-30703).
Winston & Strawn LLP represents the Debtors in their
restructuring efforts.  Eric A. Liepins, Esq., is the Debtors'
local counsel.  The U.S. Trustee for Region 6 appointed creditors
to serve on an Official Committee of Unsecured Creditors in these
cases.  Powell Goldstein LLP represents the Committee as counsel.
As of the Debtors' bankruptcy filing, it listed total assets of
$131,582,157 and total debts of $123,881,668.

Manchester nka as Navigator Holdings LLC and its subsidiaries,
emerged from Chapter 11 bankruptcy protection effective as of
June 23, 2008.  Pursuant to the terms of the Company's Third
Amended Chapter 11 Plan confirmed on June 17, 2009, Manchester's
senior lender, Palm Beach Multi-Strategy Fund, LLC, now owns
100% of the new stock in the Company.



NEBRASKA BOOK: Wants to Hire Deloitte Tax as Tax Services Provider
------------------------------------------------------------------
BankruptcyData.com reports that Nebraska Book Company filed with
the U.S. Bankruptcy Court a motion to retain Deloitte Tax
(Contact: Christopher R. Kopiasz) as tax services provider at the
following hourly rates: partner, principal or director/specialist
at $365 to $515, partner at $365, director at $330, senior manager
at $275, manager at $245, senior at $210 and associate at $195.

                    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 prepared a pre-packaged Chapter 11 plan that would
swap some of the existing debt for new debt, cash and the new
stock.


NET TALK.COM: Leo Manzewitsch Resigns as CTO and Director
---------------------------------------------------------
Leo Manzewitsch resigned as chief technical officer and director
of NetTalk.com, Inc., on Sept. 12, 2011.  To the best of the
Company's knowledge, no Executive Officer of the Company is aware
of any disagreements between the Company and Leo Manzewitsch and
the he did not furnish the Company with any written correspondence
concerning the circumstances surrounding his resignation.

                         About Net Talk.com

Based in Miami, Fla., Net Talk.com, Inc., is a telephone company,
who provides, sells and supplies commercial and residential
telecommunication services, including services utilizing voice
over internet protocol ("VoIP") technology, session initiation
protocol ("SIP") technology, wireless fidelity technology,
wireless maximum technology, marine satellite services technology
and other similar type technologies.

Net Talk.com reported a net loss of $6.31 million on $737,498 of
revenues for the fiscal year ended Sept. 30, 2010, compared with a
net loss of $2.74 million on $115,571 of revenues in fiscal 2009.

The Company's balance sheet at June 30, 2011, showed $5.69 million
in total assets, $4.24 million in total liabilities,
$13.24 million in redeemable preferred stock, and a $11.80 million
total stockholders' deficit.


NEXAIRA WIRELESS: Delays Filing of Quarterly Report on Form 10-Q
----------------------------------------------------------------
NexAira Wireless Inc. is unable to file, without unreasonable
effort and expense, its Form 10-Q Quarterly Report for the period
ended July 31, 2011, because the Company's auditors have not yet
had an opportunity to complete their review of the unaudited
financial statements.  It is anticipated that the Form 10-Q
quarterly report, along with the unaudited financial statements,
will be filed on or before the 5th calendar day following the
prescribed due date of the Company's Form 10-Q.

                      About NexAira Wireless

Headquartered in Vancouver, B.C., Nexaira Wireless Inc. (OTC BB:
NXWI) -- http://www.nexaira.com/-- develops and delivers third
and fourth generation (3G/4G) wireless routing solutions that
offer speed, reliability and security to carriers, mobile
operators, service providers, value added resellers (VARS) and
enterprise customers.

BDO USA, LLP, in San Diego, Calif., expressed substantial doubt
about Nexaira Wireless' ability to continue as a going concern.
The independent auditors noted that the Company has incurred
losses from operations and has negative cash flow from operations,
a working capital and a net capital deficit.

The Company reported a net loss of US$4.66 million on US$1.74
million of revenue for fiscal 2010, compared with a net loss of
US$3.37 million on US$5.64 million of revenue for fiscal 2009.

The Company's balance sheet at April 30, 2011, showed $1.53
million in total assets, $4.50 million in total liabilities, all
current, and a $2.96 million total shareholders' deficit.


NORTEL NETWORKS: Withdraws Alissa T. Gazze as Bankruptcy Counsel
----------------------------------------------------------------
Nortel Networks, Inc., told the U.S. Bankruptcy Court for the
District of Delaware that Alissa T. Gazze, Esq., is no longer with
the law firm of Morris, Nichols, Arsht & Tunnell LLP, counsel for
the Debtors.  Accordingly, Ms. Gazze should be removed as counsel
to the Debtors.

                      About Nortel Networks

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

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

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

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

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

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

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


NORTHERN BERKSHIRE: Has Interim Access to WF Cash Collateral
------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Massachusetts, in a
third interim order, authorized Northern Berkshire Healthcare,
Inc., et al., to use the cash collateral of Wells Fargo Bank,
National Association, as successor to the Bank of New York as
master trustee for the master indenture.

The Debtors will use the cash collateral to fund their business
operations postpetition.

As adequate protection for any diminution in value of the master
trustee's interests in the Debtors' interest in the prepetition
collateral, the Debtors will grant the master trustee adequate
protection liens on any asset.

The adequate protection liens will be junior only to (a)
prepetition liens; (b) permitted encumbrances; and carve out on
certain expenses; and any other security interests and liens.  The
master trustee is also granted superpriority administrative
expense claim status.

The Debtors authorization to use cash collateral will terminate on
the earliest to occur of: (i) 5:00 p.m. (ET) on the date that is
two business days after the further hearing, and the expiration of
the cure period following the delivery of a default notice by the
master trustee.

A further hearing on the Debtors' requested access to the cash
collateral is scheduled for Oct. 6, at 2:00 p.m.

                About Northern Berkshire Healthcare

Northern Berkshire Healthcare, Inc. is a non-profit healthcare
corporation in northern Berkshire County, Massachusetts.  Together
with its affiliates, Northern Berkshire Healthcare operates the
North Adams Regional Hospital and a visiting nurse association and
hospice in North Adams, Massachusetts.

Northern Berkshire Healthcare, Inc., North Adams Regional
Hospital, Inc., Visiting Nurse Association & Hospice of Northern
Berkshire, Inc., Northern Berkshire Healthcare Physicians Group,
Inc., and Northern Berkshire Realty, Inc., filed for Chapter 11
bankruptcy (Bankr. D. Mass. Case No. 11-31114) on June 13, 2011,
to address their overleveraged balance sheet and effect a
reorganization of their operations.  On the same day, Northern
Berkshire Community Services, Inc., filed a petition for Chapter 7
relief also in the District of Massachusetts bankruptcy court.

Judge Henry J. Boroff presides over the Debtors' cases.  James
Addison Wright, III, Esq., and Steven T. Hoort, Esq., at Ropes &
Gray LLP, serve as the Debtors' bankruptcy counsel.  The Debtors'
Financial Advisors are Carl Marks Advisory Group LLC.  GCG Inc.
serves as claims and noticing agent.

Northern Berkshire disclosed $22,957,933 in assets and
$53,379,652 in liabilities as of the Chapter 11 filing.  The
petition was signed by William F. Frado, Jr., president.

William K. Harrington, the U.S. Trustee for Region 1, appointed
five members to the official unsecured creditors' committee in the
Debtors' cases.  The Committee tapped Duane Morris LLP as its
counsel.


NORTHERN BERKSHIRE: Hearing on Disclosure Statement on Oct. 6
-------------------------------------------------------------
A hearing on the approval of the disclosure statement explaining
Northern Berkshire Healthcare, Inc., and its debtor affiliates'
Chapter 11 Plan of Reorganization will be on October 6, 2011, at
2:30 p.m.  Objections to the approval of the Disclosure Statement
are due Oct. 3.

The Debtors have asked the U.S. Bankruptcy Court for the District
of Massachusetts, Western Division, to approve the disclosure
statement and proposed procedures for the solicitation and
tabulation of votes to accept or reject the Plan.

The Plan provides for the issuance of the Reorganized Debtors of
New Unsecured Notes to the applicable Post-Effective Trusts, (b)
the Debtors transfer of Trust Assets to the applicable Post-
Effective Trusts, (c) the release of funds in the Debt Service
Fund, the Debt Service Reserve Fund, the Expense Fund, the
Project Fund, the Redemption Fund, and the Rebate Fund to the
Holder of the MDFA Note Secured Claim and applied to reduce the
principal amount thereof, (d) the release of funds in the Debt
Service Fund, the Debt Service Reserve Fund, the Redemption Fund,
and the Rebate Fund to the Holder of the MHEFA Note Secured Claim
and applied to reduce the principal amount thereof, (e) the
vesting, with respect to each Debtor, the Avoidance Actions in
each Debtor's Estate, and each Debtor's right to file, settle,
compromise, withdraw, or litigate to judgment objections to any
PET Claim and any Secured Claim against a Sale Debtor, in the
Post-Effective Trust of such Debtor, and (f) the vesting of title
to all other Assets of any Debtor in the respective Reorganized
Debtor, free and clear of all Claims, liens, encumbrances, and
other interests.

A full-text copy of the Disclosure Statement is available for free
at http://ResearchArchives.com/t/s?76f1

                About Northern Berkshire Healthcare

Northern Berkshire Healthcare, Inc. is a non-profit healthcare
corporation in northern Berkshire County, Massachusetts.  Together
with its affiliates, Northern Berkshire Healthcare operates the
North Adams Regional Hospital and a visiting nurse association and
hospice in North Adams, Massachusetts.

Northern Berkshire Healthcare, Inc., North Adams Regional
Hospital, Inc., Visiting Nurse Association & Hospice of Northern
Berkshire, Inc., Northern Berkshire Healthcare Physicians Group,
Inc., and Northern Berkshire Realty, Inc., filed for Chapter 11
bankruptcy (Bankr. D. Mass. Case No. 11-31114) on June 13, 2011,
to address their overleveraged balance sheet and effect a
reorganization of their operations.  On the same day, Northern
Berkshire Community Services, Inc., filed a petition for Chapter 7
relief also in the District of Massachusetts bankruptcy court.

Judge Henry J. Boroff presides over the Debtors' cases.  James
Addison Wright, III, Esq., and Steven T. Hoort, Esq., at Ropes &
Gray LLP, serve as the Debtors' bankruptcy counsel.  The Debtors'
Financial Advisors are Carl Marks Advisory Group LLC.  GCG Inc.
serves as claims and noticing agent.

Northern Berkshire disclosed $22,957,933 in assets and
$53,379,652 in liabilities as of the Chapter 11 filing.  The
petition was signed by William F. Frado, Jr., president.

William K. Harrington, the U.S. Trustee for Region 1, appointed
five members to the official unsecured creditors' committee in the
Debtors' cases.  The Committee tapped Duane Morris LLP as its
counsel, and Huron Consulting Services LLC as its financial
advisor.


NUVILEX INC: Delays Filing of Quarterly Report on Form 10-Q
-----------------------------------------------------------
Nuvilex, Inc., was unable to file its quarterly report on Form
10-Q for the period ended July 31, 2011, within the prescribed
time period because the Company did not provide its auditors with
all of the information necessary for the auditors to complete the
review for the quarter ended July 31, 2011, in a timely manner.

                         About Nuvilex Inc.

Scottsdale, Ariz.-based Nuvilex Inc. (OTC BB: NVLX) --
http://www.nuvilex.com/-- operates independently and through
wholly-owned subsidiaries and is dedicated to bringing to market
scientifically derived products designed to improve the health and
well-being of those who use them.  The Company currently
manufactures, directly or indirectly through independent
contractors Cinnergen(TM), Cinnechol(TM), Infinitink(R) (and
related private label ink products), and Talysn(TM) Scar Cream for
sale worldwide.

The Company reported a net loss of $1.39 million on $125,997 of
total revenue for the year ended April 30, 2011, compared with a
net loss of $5.99 million on $262,932 of total revenue for the
same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $1.24 million
in total assets, $3.39 million in total liabilities, $580,000 in
preferred stock and a $2.73 million total stockholders' deficit.

M&K CPAS, PLLC, in Houston, Texas, 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.


NXT NUTRITIONALS: Reports $1 Million Second Quarter Net Income
--------------------------------------------------------------
NXT Nutritionals Holdings, Inc., filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q
reporting net income of $1.01 million on $34,754 of sales for the
three months ended June 30, 2011, compared with net income of
$2.33 million on $49,057 of sales for the same period during the
prior year.

The Company also reported net income of $825,251 on $84,944 of
sales for the six months ended June 30, 2011, compared with a net
loss of $901,761 on $157,791 of sales for the same period a year
ago.

The Company reported a net loss of $17.40 million on $187,516 of
sales for the fiscal year ended Dec. 31, 2010, compared with a net
loss of $23.95 million on $905,728 of sales during the prior
fiscal year.

The Company's balance sheet at June 30, 2011, showed $957,260 in
total assets, $10.87 million in total liabilities and a $9.92
million total stockholders' deficit.

Berman & Company, P.A, in Boca Raton, Fla., expressed substantial
doubt about the Company's ability to continue as a going concern.
The independent auditors noted that the Company had a net loss of
$17,402,736 and net cash used in operations of $3,035,079 for the
year ended Dec. 31, 2010; and a working capital deficit and
stockholders' deficit of $11,076,205 and $12,547,616,
respectively, at Dec. 31, 2010.

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

                        http://is.gd/2USjcm

                       About NXT Nutritionals

Springfield, Mass.-based NXT Nutritionals Holdings, Inc. (OTC BB:
NXTH) -- http://www.nxtnutritionals.com/-- through its wholly
owned subsidiary NXT Nutritionals, Inc., is a developer and
marketer of a proprietary, patent-pending, all-natural, healthy
sweetener sold under the brand name SUSTA(TM) and other food and
beverage products.


OMNICARE INC: S&P Keeps 'BB' Rating on 7.75% Subordinated Notes
---------------------------------------------------------------
Standard & Poor's Ratings Services's 'BB' issue-level rating on
Covington, Ky.-based pharmacy services provider Omnicare Inc.'s
7.75% senior subordinated notes due 2020 remains unchanged
following the company's proposed $100 add-on to the offering,
bringing the total to $500 million. "Our recovery rating on the
issue remains at '4', indicating our expectation of average (30%-
50%) recovery in the event of a payment default," S&P related.

"The notes will rank equally with the company's existing and
future senior subordinated indebtedness. We expect the company to
use the proceeds from the notes offering to redeem its outstanding
6.875% senior subordinated notes due 2015. We expect the offering
to not meaningfully affect Omnicare's 'significant' financial
risk, because the company is retiring existing debt with the
proceeds," S&P related.

"Our 'BB' corporate credit rating on Omnicare reflects the
company's 'fair' business risk profile and 'significant' financial
risk. The business risk profile continues to reflect the company's
narrow business focus, exposing it to industry-specific risks,
such as the potential for future reimbursement pressure. In
addition, Omnicare has experienced a number of operating
shortfalls since its debt-financed acquisition of NeighborCare
Inc. in 2005, and the 2006 implementation of Medicare Part D.
Also, Omnicare has experienced a decline in the number of beds
served over the past few years. However, we do expect the trend in
beds served could improve in 2011 through acquisitions and an
increased focus on customer service. Risks to Omnicare are
partially offset by the company's opportunity to capitalize on its
leading position as a provider of pharmacy services to nursing
homes and other long-term care providers, and its ability to
generate free cash flow despite numerous operating hurdles over
the past few years. We expect the company to generate roughly $425
million of operating cash flow in 2011," S&P stated.

Ratings List

Omnicare Inc.
Corporate credit rating               BB/Stable/--
$500 mil. sr sub notes due 2020       BB
   Recovery rating                     4


OPTIONS MEDIA: Posts $11.8 Million Net Loss in Second Quarter
-------------------------------------------------------------
Options Media Group Holdings, Inc., filed its quarterly report on
Form 10-Q, reporting a net loss of $11.8 million on $196,291 of
revenues for the three months ended June 30, 2011, compared with
a net loss of $2.7 million on $212,814 of revenues for the same
period last year.

For the six months ended June 30, 2011, the Company had a net loss
of $12.6 million on $521,051 of revenues, compared with a net loss
of $3.3 million on $339,110 of revenues for the same period in
2010.

The Company's balance sheet at June 30, 2011, showed $3.9 million
in total assets, $8.9 million in total liabilities, all current,
and a stockholders' deficit of $5.0 million.

As reported in the TCR on May 31, 2011, Salberg & Company, P.A.,
in Boca Raton, Florida, expressed substantial doubt about Options
Media Group Holdings' ability to continue as a going concern,
following the Company's 2010 results.  The independent auditors
noted that the Company has a net loss of $9.86 million, and net
cash used in operations of $2.02 million for the year ended
Dec. 31, 2010, and a working capital deficit and an accumulated
deficit of $524,157, and $22.74 million respectively at Dec. 31,
2010.  The independent auditors noted that the Company has also
discontinued certain operations.

A complete text of the Form 10-Q is available at

                       http://is.gd/qbDaMy

                       About Options Media

Boca Raton, Fla.-based Options Media Group Holdings, Inc., had
historically been an Internet marketing company providing e-mail
services to corporate customers.  Additionally, Options Media has
a lead generation business and disposed of its SMS text messaging
delivery business.  In 2010, Options Media transitioned by
changing its focus to smart phones and acquiring a robust anti-
texting program that prohibits people in vehicles from texting, e-
mailing, and reading such communications while moving.  As part of
its focus on mobile software applications, Options Media has also
broadened its suite of products by continuing to improve the
features of its Drive Safe(TM) anti-texting software.  In
conjunction with this change of focus, in February 2011, Options
Media sold its e-mail and SMS businesses.  Options Media retains
its lead generation business.


OVERLAND STORAGE: Incurs $14.5 Million Net Loss in Fiscal 2011
--------------------------------------------------------------
Overland Storage, Inc., filed with the U.S. Securities and
Exchange Commission is annual report on Form 10-K reporting a net
loss of $14.50 million on $70.19 million of net revenue for the
fiscal year ended June 30, 2011, compared with a net loss of
$12.96 million on $77.66 million of net revenue during the prior
fiscal year.

The Company's balance sheet at June 30, 2011, showed $40.92
million in total assets, $33.79 million in total liabilities and
$7.13 million in total shareholders' equity.

Moss Adams LLP, in San Diego, California, noted that the Company's
recurring losses and negative operating cash flows raise
substantial doubt about the Company's ability to continue as a
going concern.

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

                        http://is.gd/9ik3S7

                       About Overland Storage

San Diego, Calif.-based Overland Storage, Inc. (Nasdaq: OVRL) --
http://www.overlandstorage.com/-- is a global provider of unified
data management and data protection solutions designed to enable
small and medium enterprises (SMEs), corporate departments and
small and medium businesses (SMBs) to anticipate and respond to
change.


PARADISE INVESTMENT: Case Summary & 16 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Paradise Investment Fund, LLC
        1420 Celebration Boulevard, Suite 300
        Celebration, FL 34747

Bankruptcy Case No.: 11-13841

Chapter 11 Petition Date: September 14, 2011

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

Debtor's Counsel: Justin M. Luna, Esq.
                  LATHAM, SHUKER, EDEN & BEAUDINE, LLP
                  P.O. Box 3353
                  Orlando, FL 32802-3353
                  Tel: (407) 481-5800
                  Fax: (407) 481-5801
                  E-mail: bankruptcynotice@lseblaw.com

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

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

A list of the Company's 16 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/flmb11-13841.pdf

The petition was signed by Eric J. Waddell, member and managing
member of Waddel Williams & Assoc., its manager.


PERFECTENERGY INT'L: Has $701,300 Loss in 2 Months Ended June 30
----------------------------------------------------------------
Perfectenergy International Limited filed its quarterly report on
Form 10-Q, reporting a net loss of $701,308 on $14.5 million of
revenues for the two months ended June 30, 2011, compared with a
net loss of $981,217 on $20.7 million of revenues for the three
months ended July 31, 2010.

For the eight months ended June 30, 2011, the Company had a net
loss of $2.4 million on $38.6 million of revenues, compared with a
net loss of $1.9 million on $57.2 million of revenues for the nine
months ended July 31, 2010.

The Company changed its fiscal year end from Oct. 31 to Sept. 30
effective May 4, 2011.  The financial statements presented herein
include the statements of operations and cash flows for the eight
months ended June 30, 2011, and the nine months ended July 31,
2010, which represents the period of the prior year most
comparable to the current period.

The Company's balance sheet at June 30, 2011, showed $35.5 million
in total assets, $27.6 million in total liabilities, and
stockholders' equity of $7.9 million.

"We have incurred recurring operating losses and had an
accumulated deficit of $3.48 million as of June 30, 2011," the
Company said in the filing.

"Our history of operating losses and lack of binding financing
commitments raise substantial doubt as to our ability to continue
as a going concern."

A copy of the Form 10-Q is available at http://is.gd/7nk9zD

Perfectenergy International Limited was originally incorporated on
Feb. 25, 2005, in the State of Nevada under its former name
"Crestview Development Corporation."  The Company, through its
subsidiaries, is principally engaged in the research, development,
manufacturing, and sale of solar cells, solar modules, and
photovoltaic ("PV") systems.  The Company's manufacturing and
research facility is located in Shanghai, China, and it has sales
and service offices in Shanghai, China and Germany.


PONCE DE LEON: Case Summary & 15 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Ponce De Leon 1403, Inc.
        1550 Ave. Ponce De Leon
        San Juan, PR 00909

Bankruptcy Case No.: 11-07920

Chapter 11 Petition Date: September 19, 2011

Court: U.S. Bankruptcy Court
       District of Puerto Rico (Old San Juan)

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

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

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

The petition was signed by Ruben A. Jordan, president.

Debtor's List of 15 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
QB Construction Inc.               --                   $3,270,383
P.O. Box 3620066
San Juan, PR 00936-2066

Municipality of San Juan           --                      $44,355
Deprtamento de Finanzas
P.O. Box 70179
San Juan, PR 00936-8179

AAA                                --                      $10,524
P.O. Box 70101
San Juan, PR 00936-8101

Carlos Garcia Rullan, Esq.         --                      $10,000

Paradigm Associates                --                       $6,939

Beauchamp Property Management      --                       $3,560

Deya Elevators Services            --                       $2,990

RSM ROC & Company                  --                       $2,700

Universal Equipment Sales & Service--                         $867

Ramon Rodriguez Quinonez           --                         $859

MAC Mechanical                     --                         $692

Luis Maymi (Aquazul)               --                         $630

Con Waste                          --                         $519

Odalys De Los Santos               --                         $400

Fernando L. Diaz                   --                         $200


QUANTUM FUEL: Incurs $7.8 Million Net Loss in Q1 Fiscal 2012
------------------------------------------------------------
Quantum Fuel Systems Technologies Worldwide, Inc., filed with the
U.S. Securities and Exchange Commission its quarterly report on
Form 10-Q, reporting a net loss attributable to stockholders of
$7.86 million on $6.75 million of total revenue for the three
months ended July 31, 2011, compared with a net loss attributable
to stockholders of $1.61 million on $3.56 million of total revenue
for the same period during the prior year.

The Company's balance sheet at July 31, 2011, showed
$74.15 million in total assets, $31.62 million in total
liabilities, and $42.53 million total stockholders' equity.

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.

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.

Alan P. Niedzwiecki, President and CEO, stated, "Our increase in
revenues reflects a continued ramp up of the Fisker program and
new customer programs including plug-in hybrid vehicle
applications, hydrogen programs, and CNG storage system sales. We
are excited about these additional opportunities that are opening
up with new OEM customers such as General Motors, Daimler and
other OEMs and the partnership with Dow Chemical/Dow Kokam on the
commercialization of an F-150 PHEV program."

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

                        http://is.gd/DWyINL

                         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.

                      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.


RAHWAY HOSPITAL: Moody's Affirms Ba3 Rating on Outstanding Bonds
----------------------------------------------------------------
Moody's Investors Service has affirmed Rahway Hospital's (also
known as Robert Wood Johnson University Hospital at Rahway) Ba3
bond rating affecting $10.4 million of outstanding debt issued
through the New Jersey Health Care Facilities Finance Authority
(see RATED DEBT section at end of report). The outlook is revised
to stable from negative.

SUMMARY RATING RATIONALE

The affirmation of the Ba3 debt rating and the revision of the
outlook to stable reflects Rahway Hospital's (Rahway) turnaround
of financial performance in the second half of fiscal year (FY)
2010 with the help of QHR Consultants which has continued through
the first half of FY 2011 as well as growth in absolute liquidity
and liquidity metrics as measured by days cash on hand, and the
increased collaboration between Rahway and its legal parent,
Robert Wood Johnson University Hospital in New Brunswick (RWJUH)
for managed care contracting, potential back office consolidation,
and clinical integration. Moody's cautions that the longer-term
credit profile of Rahway, as a Ba3 credit rating suggests, still
remains a high-risk investment given the hospital's small size,
location in a competitive New Jersey market and continued material
volume declines driving revenue contraction.

STRENGTHS

*Material improvement in financial performance through six months
of FY 2011 with an operating income of $3.1 million (5.2% margin)
and operating cash flow of $5.9 million (9.8% margin) compared to
the operating loss of $569 thousand (-0.9% margin) and operating
cash flow of $2.5 million (3.8% operating cash flow margin)
recorded through six months of FY 2010; following the second half
of FY 2010 which held performance for the year at -0.4% operating
margin and 3.7% operating cash flow margin

*Turnaround driven by expense reductions from QHR initiatives
equating to over $7.7 million in annualized savings while revenue
enhancements are expected to add $2.3 million in the coming years;
15% reduction in expenses realized in the first half of FY 2011
compared to the same period in the prior year

*Growth in absolute liquidity position as of June 30, 2011 with
unrestricted cash and investments up to $24.5 million or 82 days
cash on hand from $23.7 million or 68 days at fiscal year end
(FYE) 2010 (Moody's days cash on hand computation does not exclude
bad debt expense); improved cash-to-debt at June 30, 2010 to 114%
from 110% at FYE 2010 and above average for the Ba rating category
(Moody's 2010 Ba median is 76%)

*Evolving relationship with RWJUH resulting in a recent increase
in collaboration including joint managed care contracting, a new
GPO for the three RWJUH hospitals (Hamilton, Rahway, and New
Brunswick), and investigation of possible back office
consolidation; RWJUH is the legal parent of Rahway and Hamilton

CHALLENGES

*Material 9% decline in inpatient admissions and observation stays
through six months of FY 2011 compared to the prior year following
20% decline from FY 2008 to FY 2010; projections include 5%
declines in volumes annually through 2013

*Material 8.8% decline in operating revenue through six months of
FY 2011 driven largely by the material decline in volumes

*Heavy reliance on Medicare, 59% of revenues, one of the highest
in Moody's portfolio; no Horizon Blue Cross Blue Shield contract
for many years

*Location in fragmented and competitive market of Union and
Middlesex counties with a stagnant and aging population and other
sizable community hospitals providing a wider array of services
than Rahway

*High age of plant (21.5 years) due to low level of capital
spending the last several years; management states on site
maintenance team addresses facility needs and plant looks better
than the age implies

*Small sized hospital with $130 million in revenue and 7,000
admissions with limited financial backing from RWJUH New
Brunswick.

*Half of outstanding debt is variable rate exposing the hospital
to put risk and bank risk

DETAILED CREDIT DISCUSSION

LEGAL SECURITY: Series 1998 bonds are secured by a gross revenue
pledge of Rahway Hospital. The Series 2003 bonds ($11 million) are
backed by a Letter of Credit from Wells Fargo Bank and rated
Aa2/VMIG1. The Letter of Credit expires August 15, 2012. Covenants
include 65 days cash on hand measured semiannually and 1.25 times
rate covenant measured quarterly based on past twelve months
performance. Rahway was compliant with these covenants in FY 2010.

INTEREST RATE DERIVATIVES: Floating-to-floating rate swap with
Wells Fargo Bank based on $11 million notional amount; expires
August, 2015; management reports that there are no collateral
requirements and plans to keep the swap outstanding.

RECENT DEVELOPMENTS/RESULTS

The revision of the outlook to stable from negative reflects the
financial improvement demonstrated in the first half of FY 2011,
which continues the turnaround that began in the second half of FY
2010. With the assistance of an outside consulting firm, through
six months FY 2011, financial performance has shown material
improvement, with operating income of $3.1 million (5.2% margin)
and operating cash flow of $5.9 million (9.8% margin) compared to
the $569 thousand operating loss (-0.9% margin) and $2.5 million
operating cash flow (3.8% margin) reported in the same period the
prior year. In FY 2010, Rahway reported a second year of
unfavorable financial performance with an operating loss of $457
thousand (-0.4% margin) and operating cash flow of $4.9 million
(3.7% margin), an improvement over results reported through six
months FY 2010. Management states the down turn in performance
began the second half of FY 2009 and continued through the first
half of FY 2010 and was due to a material declines in inpatient
admissions.

In response to the downturn in performance, management reduced
staff salaries by 5% and management salaries by 10%, eliminated
all employer contribution to the defined contribution plan except
for the 50% match on the first 4% of employee contributions.
Management also hired the consulting firm QHR to assist with the
implementation of a productivity measurement system, and review
the Hospital's strategies regarding, supply chain, managed care
negotiations and revenue cycle process. QHR affirmed the
Hospital's supply chain strategy to change group purchasing
organizations with the New Brunswick and Hamilton facilities. They
also agreed with the Hospital's managed care strategy and made
several recommendations regarding revenue cycle improvements,
which are in process. The productivity initiative reduced FTEs by
100 FTEs, primarily through attrition as a result of a hiring
freeze, reduction in overtime and agency usage and a 25 person
layoff Annualized savings and revenue impact is approximately $10
million.

Despite the turnaround in year to date performance, revenue
declined 8.8% due to the heavy reliance on Medicare (59%) with
flat rate increases, and continued decline in inpatient and
observation stays (10%), outpatient visits (4%) and outpatient
surgeries (8%) through June 30, 2011 compared to June 30, 2010.
These recent trends follow a 20% decline in admissions and
observation stays from FY 2008 to FY 2010 and 6% decline in
revenue over the same period. According to management, part of the
volume declines are due to a change in guidelines from the New
Jersey Department of Health for the treatment of chest pain
resulting in a material decline in cardiac admissions. To meet the
new guidelines and reduce the decline in cardiac admissions, a new
catherization lab is being installed and is expected to open in
October 2011. In addition, the Hospital has received primary
stroke designation from the NJ Department of Health, which should
reduce some of the decline in admissions. To mitigate the revenue
contraction the hospital initiatives have reduced expenses by 15%
through six months of FY 2011 outpacing the revenue decline and
improving financial performance in the first half of FY 2011. If
management's is unable to maintain the recent reduction in cost
structure causing a return to FY 2009 or FY 2010 levels of
performance, there may be pressure on the rating or outlook.

With the improved cash flow in the first half of FY 2011, Rahway's
debt service coverage levels improved and are favorable compared
to Moody's 2010 Ba medians. Moody's adjusted debt-to-cash flow
measured 2.0 times in six months FY 2011 compared 3.7 times in FY
2010 (Moody's 2010 Ba median is 5.1 times) and MADS coverage
measured of 3.2 times compared to 2.0 times in FY 2009 (Moody's
2010 Ba median is 2.2 times).

The operating losses in FY 2009 and 2010 had a negative impact on
the balance sheet; however with year to date performance the
balance sheet has shown improvement. As of June 30, 2011
unrestricted cash and investments improved to $24.5 million or 82
days cash from $23.7 million (68 days cash) at the end of FY 2010.
Cash-to-debt improved to 114% at June 30, 2011 from 110% at FYE
2010. Despite the improvement in unrestricted cash and investments
in the first half of FY 2011 the declines in cash during the prior
two years restricted management's ability to spend on capital.
Capital spending has been slightly below depreciation on average
over the last five years, resulting in a very high average age of
plant of 21.4 years in FY 2010 compared to Moody's 2010 national
median of 10.3 years. Management states the facility looks better
than the average age implied due to good internal maintenance.
Cash is conservatively invested in 100% cash and equivalents.

Rahway's debt structure is 49% fixed and 51% variable rate
exposing the hospital to put risk and bank risk. The variable rate
demand bonds are supported by a letter of credit from Well Fargo
which expires August 2012; management states they have already
begun negotiations to extend the expiration. Cash-to-demand debt
is good at 215%. However, the underfunded position of the defined
benefit pension plan adds to the liabilities of the hospital.
Frozen March 31, 2005, the pension liability is $21.5 million
underfunded (73% funded at FYE 2010). Cash-to-comprehensive debt
(including short- and long-term debt and lease and pension
liability) is 53%. Management is meeting the minimum funding
requirements.

Rahway's primary service area is five towns in Union and Middlesex
counties characterized by an aging and stagnant population
evidenced by the above average Medicare exposure (59% of revenue).
There are a number of other community hospitals in the broader
service area that offer a wider array of services. Rahway has lost
market share as a result of the changes to treatment of chest pain
and stroke patients Management expects to partially reverse this
trend with the opening of the new catherization lab and primary
stroke designation but does not have any material service niche to
distinguish itself in this market. However, for many years Rahway
has had a legal affiliation with A2 rated Robert Wood Johnson
University Hospital (RWJUH) which serves as the sole corporate
member of Rahway. RWJUH does not guaranty the bonded debt of
Rahway but has included Rahway in a new group purchasing
organization and in recent management care contracting, Some back
office consolidation is being considered as well. Moody's views
this recent change in relationship as a credit positive and partly
driving the change in outlook to stable.
Outlook

The revision of the outlook to stable from negative reflects
Moody's belief that Rahway has made fundamental changes to its
cost structure that will sustain the improved financial
performance over the near term despite the volume and revenue
declines. Furthermore, with the enhanced support of RWJUH for
contracting and marketing, Rahway should be able to slow the
volume and revenue declines and maintain current levels of cash
flow further improving balance sheet and debt coverage measures.
Moody's cautions that the longer-term credit profile of Rahway, as
a Ba3 credit rating suggests, still remains a high-risk investment
given the hospital's small size, location in a competitive New
Jersey market and continued material volume declines driving
declines in revenue.

WHAT COULD MAKE THE RATING GO UP

Growth in volumes and revenue; sustained and improved operating
cash flow and growth of absolute liquidity position leading to
strengthening of debt ratios; market share gain in profitable
service lines

WHAT COULD MAKE THE RATING GO DOWN

Continued decline in patient volumes leading to continued market
share loss; departure from current operating performance leading
to weaker debt ratios; decline in liquidity position; increase in
debt load

KEY INDICATORS

Assumptions & Adjustments:

-Based on financial statements for Robert Wood Johnson University
Hospital at Rahway and Affiliates

-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

*Inpatient admissions: 7,784; 7,074

*Total operating revenues: $134.9 million; $130.2 million

*Moody's-adjusted net revenue available for debt service: $7.5
million; $7.0 million

*Total debt outstanding: $23.5 million; $21.4 million

*Maximum annual debt service (MADS): $3.6 million; $3.6 million

*Moody's-adjusted MADS Coverage with normalized investment income:
2.1 times; 2.0 times

*Debt-to-cash flow: 4.0 times; 3.7 times

*Days cash on hand: 78 days; 68 days

*Cash-to-debt: 120%; 110%

*Operating margin: -0.4%; -0.4%

*Operating cash flow margin: 3.8%; 3.7%

RATED DEBT OUTSTANDING (as of December 31, 2010)

-Series 1998: $10.5 million outstanding; Ba2

-Series 2003: $11.0 million outstanding; LOC from Wells Fargo;
Aa2/VMIG1

The principal methodology used in this rating was Not-for-Profit
Hospitals and Health Systems published in January 2008.


RASER TECHNOLOGIES: Emerges from Bankruptcy
-------------------------------------------
Raser Technologies, Inc., and its debtor affiliates emerged from
bankruptcy protection when the effective date of its Third Amended
Plan of Reorganization occurred on Sept. 9, 2011.

On Aug. 30, 2011, the U.S. Bankruptcy Court for the District of
Delaware confirmed the Third Amended Plan.

Among other things, the Plan provides that all common stock and
other equity ownership interests in the Company are canceled and
that the holders of those securities do not receive any property
or distribution under the Plan.

A copy of the Third Amended Plan is available at:

         http://bankrupt.com/misc/raser.3rdamendedjointplan.pdf

A copy of the Third Amended Disclosure Statement with respect to
the Third Amended Plan is available at:

         http://bankrupt.com/misc/raser.3rdamendedDS.pdf

                     About Raser Technologies

Raser Technologies Inc. (NYSE: RZ) is a renewable energy company
focusing on geothermal power development.  The Company has one
operating plant in Utah and another eight early and development
stage projects in Utah, New Mexico, Nevada and Oregon.  The
Company invested $120 million in Thermo No. 1, its sole operating
plant, which is near Beaver, Utah, and has a power generation
capacity of 10 megawatts.  The City of Anaheim, California, agreed
in 2008 to buy the generated electricity for 20 years.

Provo, Utah-based Raser Technologies, also known as Wasatch Web
Advisors, Inc., filed for Chapter 11 protection (Bankr. D. Del.
Case No. 11-11315) on April 29, 2011.  Other affiliates filed for
separate Chapter 11 protection on April 29, 2011, (Bankr. D. Del.
Case Nos. 11-11319 to 11-11350).  Peter S. Partee, Sr., Esq., and
Richard P. Norton, Esq., at Hunton & Williams LLP, represent the
Debtors in their restructuring efforts.  The Debtors' local
counsel is Bayard, P.A.  Sichenzia Ross Friedman Ference LLP
serves as the Debtors' corporate counsel.  The Debtors' financial
advisor is Canaccord Genuity.

A three-member official committee of unsecured creditors was
formed in the Chapter 11 case.  Foley & Lardner LLP represents the
Committee.  The Committee also tapped Womble Carlyle Sandridge &
Rice, PLLC, as co-counsel, BDO Consulting, a division of BDO USA,
LLP, as its financial advisor and accountant; and BDO Capital
Advisors, LLC its investment banker.

The Company reported a net loss of $101.80 million on
$4.25 million of revenue for the fiscal year ended Dec. 31, 2010,
compared with a net loss of $20.90 million on $2.19 million of
revenue during the prior year.

The Company's balance sheet at Dec. 31, 2010, showed
$41.84 million in total assets, $107.78 million in total
liabilities, $5.00 million of Series A-1 cumulative convertible
preferred stock, and a stockholders' deficit of $70.94 million.


R.E. LOANS: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: R.E. Loans, LLC
        201 Lafayette Circle
        Lafayette, CA 94549

Bankruptcy Case No.: 11-35865

Chapter 11 Petition Date: September 13, 2011

Court: U.S. Bankruptcy Court
       Northern District of Texas (Dallas)

Judge: Barbara J. Houser

About the Debtor: American Bankruptcy Institute reports that R.E.
                  Loans LLC filed for chapter 11 protection,
                  citing defaults on loans from nearly all of its
                  borrowers.  R.E. Loans is a mortgage company.

Debtor's Counsel: Holland N. O'Neil, Esq.
                  GARDERE, WYNNE AND SEWELL
                  1601 Elm Street, Suite 3000
                  Dallas, TX 75201
                  Tel: (214) 999-4961
                  Fax: (214) 999-4667
                  E-mail: honeil@gardere.com

                         - and -

                  Virgil Ochoa, Esq.
                  GARDERE, WYNNE AND SEWELL
                  1601 Elm Street, Suite 3000
                  Dallas, TX 75201
                  Tel: (214) 999-4723
                  Fax: (214) 999-3723
                  E-mail: vochoa@gardere.com

Debtor's
Other Management
Professional:     MACKINAC PARTNERS

Debtor's
Reorganization
Counsel:          STUTMAN, TREISTER & GLATT P.C.

Debtor's
Co-Counsel:       GARDERE WYNNE SEWELL LLP

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

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

The petition was signed by James A. Weissenborn, chief
restructuring officer.

Affiliates that simultaneously sought Chapter 11 protection:

        Debtor                        Case No.
        ------                        --------
R.E. Future, LLC                      11-35868
Capital Salvage, a California corp.   11-35869

Debtor's List of 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
J. Robert Orton, III               Note Holder         $11,438,053
65 Sea View Avenue
Piedmont, CA 94611

Tom Enterprise GP                  Note Holder          $9,094,826
3744 Grove Avenue
Palo Alto, CA 94303

Sherratt Reicher, President        Note Holder          $7,567,452
3200 Danville Boulevard, Suite 200
Alamo, CA 94507

Patrick & Linda Reilly, Ttees      Note Holder          $6,819,306
30503 Palomares Road
Castro Valley, CA 94552

Kris Jay Hamrick                   Note Holder          $5,548,457
16 Hillway Avenue
San Francisco, CA 94117

North American Financial Corp.     Note Holder          $5,126,971
23950 Mission Boulevard
Hayward, CA 94544

Gifford Fong & Vivian Fong         Note Holder          $5,105,226
3658 Mt. Diablo Boulevard, Suite 200
Lafayette, CA 94549

S. Walter Kran                     Note Holder          $4,591,295
2695 Lakeview Drive
San Leandro, CA 94577

Steven G. Fong                     Note Holder          $3,968,351
3658 Mt. Diablo Boulevard, Suite 200
Lafayette, CA 94549

Edwin/Gertrude M. Blue, Ttees      Note Holder          $3,948,508
87 Flood Circle
Atherton, CA 94027-2108

Paul & Patricia Cianci Trustees    Note Holder          $3,922,546
P.O. Box 2061
Martinez, CA 94553

Peter B. Slabaugh                  Note Holder          $3,914,039
250 Scenic Avenue
Piedmont, CA 94611

Lori Berney                        Note Holder          $3,762,537
430 Landford Court
El Dorado Hills, CA 95762

Pensco Tr Co Fbo P Simmons         Note Holder          $3,745,073
P.O. Box 1871
Sonoma, CA 95476

Ron Nunn - Architect               Note Holder          $3,181,947
1385 St. James Drive
St. Helena, CA 94574

Theodore/Virgene Jones Ttees       Note Holder          $2,836,970
234 Casitas Avenue
San Francisco, CA 94127

J & E Investments                  Note Holder          $2,729,294
4973 Gordon Valley Road
Fairfield, CA 94534

Leigh or Mary Iverson, Ttees       Note Holder          $2,551,646
2718 Santa Lucia
Carmel, CA 93923

Ira Services Trust Company,        Note Holder          $2,545,272
Custodian
5 Shadow Creek Lane
Orinda, CA 94563

Thomas A. Palmer                   Note Holder          $2,535,592
162 Alta Road
Oakland, CA 94618


REALOGY CORP: 2013 Debt Trades at 9% Off in Secondary Market
------------------------------------------------------------
Participations in a syndicated loan under which Realogy Corp. is a
borrower traded in the secondary market at 90.60 cents-on-the-
dollar during the week ended Friday, Sept. 16, 2011, an increase
of 3.52 percentage points from the previous week according to data
compiled by Loan Pricing Corp. and reported in The Wall Street
Journal.  The Company pays 300 basis points above LIBOR to borrow
under the facility.  The bank loan matures on Sept. 30, 2013, and
carries Moody's B1 rating and Standard & Poor's B- rating.  The
loan is one of the biggest gainers and losers among 104 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

                        About Realogy Corp.

Realogy Corp. -- http://www.realogy.com/-- a global provider of
real estate and relocation services with a diversified business
model that includes real estate franchising, brokerage, relocation
and title services.  Realogy's world-renowned brands and business
units include Better Homes and Gardens Real Estate, CENTURY 21,
Coldwell Banker, Coldwell Banker Commercial, The Corcoran Group,
ERA, Sotheby's International Realty, NRT LLC, Cartus and Title
Resource Group.  Collectively, Realogy's franchise systems have
around 15,000 offices and 270,000 sales associates doing business
in 92 countries around the world.

Headquartered in Parsippany, N.J., Realogy is owned by affiliates
of Apollo Management, L.P., a leading private equity and capital
markets investor.  Realogy fully supports the principles of the
Fair Housing Act.

Realogy Corp. filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, reporting a net loss
of $21 million on $1.18 billion of net revenues for the three
months ended June 30, 2011, compared with net income of $223
million on $1.25 billion of net revenues for the same period
during the prior year.

The Company also reported a net loss of $258 million on $2.01
billion of net revenues for the six months ended June 30, 2011,
compared with net income of $26 million on $2.07 billion of net
revenues for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $7.98 billion
in total assets, $9.29 billion in total liabilities, and a $1.31
billion total deficit.

Realogy has 'Caa2' corporate family rating and 'Caa3' probability
of default rating, with positive outlook, from Moody's.  The
rating outlook is positive.  Moody's said in January 2011 that the
'Caa2' CFR and 'Caa3' PDR reflects very high leverage, negative
free cash flow and uncertainty regarding the timing and strength
of a recovery of the residential housing market in the U.S.
Moody's expects Debt to EBITDA of about 14 times for the 2010
calendar year.  Despite the recently completed and proposed
improvements to the debt maturity profile, the Caa2 CFR continues
to reflect Moody's view that current debt levels are unsustainable
and that a substantial reduction in debt levels will be required
to stabilize the capital structure.


REALOGY CORP: 2016 Debt Trades at 18% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which Realogy Corp. is a
borrower traded in the secondary market at 82.00 cents-on-the-
dollar during the week ended Friday, Sept. 16, 2011, an increase
of 0.50 percentage points from the previous week according to data
compiled by Loan Pricing Corp. and reported in The Wall Street
Journal.  The Company pays 425 basis points above LIBOR to borrow
under the facility.  The bank loan matures on Oct. 10, 2016, and
carries Moody's B1 rating and Standard & Poor's B- rating.  The
loan is one of the biggest gainers and losers among 104 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

                       About Realogy Corp.

Realogy Corp. -- http://www.realogy.com/-- a global provider of
real estate and relocation services with a diversified business
model that includes real estate franchising, brokerage, relocation
and title services.  Realogy's world-renowned brands and business
units include Better Homes and Gardens Real Estate, CENTURY 21,
Coldwell Banker, Coldwell Banker Commercial, The Corcoran Group,
ERA, Sotheby's International Realty, NRT LLC, Cartus and Title
Resource Group.  Collectively, Realogy's franchise systems have
around 15,000 offices and 270,000 sales associates doing business
in 92 countries around the world.

Headquartered in Parsippany, N.J., Realogy is owned by affiliates
of Apollo Management, L.P., a leading private equity and capital
markets investor.  Realogy fully supports the principles of the
Fair Housing Act.

Realogy Corp. filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, reporting a net loss
of $21 million on $1.18 billion of net revenues for the three
months ended June 30, 2011, compared with net income of $223
million on $1.25 billion of net revenues for the same period
during the prior year.

The Company also reported a net loss of $258 million on $2.01
billion of net revenues for the six months ended June 30, 2011,
compared with net income of $26 million on $2.07 billion of net
revenues for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $7.98 billion
in total assets, $9.29 billion in total liabilities, and a $1.31
billion total deficit.

Realogy has 'Caa2' corporate family rating and 'Caa3' probability
of default rating, with positive outlook, from Moody's.  The
rating outlook is positive.  Moody's said in January 2011 that the
'Caa2' CFR and 'Caa3' PDR reflects very high leverage, negative
free cash flow and uncertainty regarding the timing and strength
of a recovery of the residential housing market in the U.S.
Moody's expects Debt to EBITDA of about 14 times for the 2010
calendar year.  Despite the recently completed and proposed
improvements to the debt maturity profile, the Caa2 CFR continues
to reflect Moody's view that current debt levels are unsustainable
and that a substantial reduction in debt levels will be required
to stabilize the capital structure.


RENAISSANCE SURGICAL: Cash Use Hearing Continued Until Sept. 22
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
approved a stipulation continuing until Sept. 22, 2011, at 10:00
a.m., the hearing to consider Renaissance Surgical Arts at Newport
Harbor, LLC's request to use cash collateral and obtain unsecured
postpetition financing.

Pursuant to a stipulation among the Debtor, Plaza Bank, and Wells
Fargo Equipment Finance, Inc., and Pacific Medical Plaza, L.P.,
the parties agreed to continue the hearing because the Debtor and
its chief restructuring officer, XRoads Solutions, LLC, needed
additional time to (i) complete an internal and external review of
its receivables base for the purpose of completely assessing the
value and collectability of the Debtor's existing health care
receivables; and (ii) permit the Debtor to propose an amended cash
collateral budget based upon that review.

The parties also agreed that the Debtor will continue to operate
under the preliminary budget until Sept. 23.  The Debtor will use
the money to fund its business operations.

The Debtor related that Plaza Bank's interest is adequately
protected by: (i) regular monthly payments under the Plaza Note,
commencing Sept. 4, 2011; (ii) Renaissance's ongoing business
operations, sufficient to maintain Plaza's receivables base at
levels above those in existence at the commencement of the Plaza
Note; and (iii) a replacement lien on cash, accounts receivable,
and proceeds acquired or generated with any cash collateral with a
value equal to the amount of any cash collateral expended by the
Debtor.

     Debtor-In-Possession Financing from its Physician Members

The Doctors' Group, comprised of physicians who are also
Renaissance members, has offered to extend to the Debtors the
financing.  The Doctors' Group already have lent a significant
amount to the Debtors.

The Doctors' Group offered to provide the Debtor immediate credit
on these general terms:

1. Amount: $50,000 each up to $600,000 total.  If Renaissance is
   oversubscribed, each participant's commitments will be reduced
   pro rata.

2. Facility: Revolving credit facility to be held in trust by a
   trustee.

3. Term: 180 days with optional 60 day extensions not to exceed
   360 days.

4. Interest Rate on Drawn Funds: 10% per annum during first 180
   days +1% per annum, for each additional 60 day extension.
   Interest will be paid quarterly.  RSANH can elect to pay
   interest in kind (by adding to the principal balance) in any
   particular period subject to a 2.5% premium (i.e. 12.5% per
   annum, if during the first 180 days).

5. Interest Rate on Un-Drawn Funds: 2% per annum.

6. Ranking: Administrative Priority.

        About Renaissance Surgical Arts at Newport Harbor

An involuntary Chapter 11 petition was filed against Costa Mesa,
California-based Renaissance Surgical Arts at Newport Harbor
(Bankr. C.D. Calif. Case No. 11-19749) on July 11, 2011.  On
Aug. 2, 2011, the Court entered an order for relief.  Judge Erithe
A. Smith presides over the case.

The petitioners are Dr. Gary Reiter, allegedly owed $907,515;
Vascular Resources Inc., allegedly owed $2,462,492; and Anthony C.
Pings, allegedly owed $266,169.  The Petitioners are represented
by Robert P. Goe, Esq., at Goe & Forsythe, LLP.


RENAISSANCE SURGICAL: Court OKs Seelig as Patient Care Ombudsman
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
approved the approved the appointment of:

         Jerry Seelig
         4275 Baldwin Avenue
         Culver City, CA 90232

as patient care ombudsman in the Chapter 11 case of Renaissance
Surgical Arts At Newport Harbor, LLC.

Previously, the Debtor and the U.S. Trustee for Region 16 sought
and obtained approval of a stipulation requesting the Court to
direct the appointment of a patient care ombudsman.

Pursuant to the stipulation:

   -- the patient care ombudsman will have access and may review
   confidential patient records as necessary and appropriate to
   discharge his duties and responsibilities, provided however,
   that the ombudsman protects the confidentiality of the records
   including, but not limited to the Health Insurance Portability
   and Accountability Act of 1996 and federal HIPPA privacy
   regulations at 45 Code of Federal Regulations, and

   -- the fees and costs of the ombudsman, including those fees
   and costs of professionals employed by the ombudsman, will not
   exceed $40,000 for the entire case.  However, the $40,000 cap
   on fees and costs can be adjusted upward upon application to
   the Court by the ombudsman, the Debtor or the U.S. Trustee.

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

The U.S. Trustee is represented by:

         Michael Hauser, Esq.
         Ronald Reagan Federal Building
         411 West Fourth Street, Suite 9041
         Santa Ana, CA 92701-8000
         Tel: (714) 338-3400
         Fax: (714) 338-3421
         E-mail: Michael.Hauser@usdoj.gov

        About Renaissance Surgical Arts at Newport Harbor

An involuntary Chapter 11 petition was filed against Costa Mesa,
California-based Renaissance Surgical Arts at Newport Harbor
(Bankr. C.D. Calif. Case No. 11-19749) on July 11, 2011.  On
Aug. 2, 2011, the Court entered an order for relief.  Judge Erithe
A. Smith presides over the case.

The petitioners are Dr. Gary Reiter, allegedly owed $907,515;
Vascular Resources Inc., allegedly owed $2,462,492; and Anthony C.
Pings, allegedly owed $266,169.  The Petitioners are represented
by Robert P. Goe, Esq., at Goe & Forsythe, LLP.


RIO RANCHO: Names Thomas Kent as New Attorney
---------------------------------------------
Rio Rancho Super Mall LLC informed the U.S. Bankruptcy Court for
the Central District of California that it named Thomas E. Kent,
Esq., as new attorney to substitute Justin Lee, Esq., at Lee &
Kent.

Moreno Valley, California-based Rio Rancho Supermall, LLC, owns,
manages and operates a commercial property known as the Rio Rancho
Super Mall that is utilized as an indoor swap-meet and retail
mall.  It filed for Chapter 11 bankruptcy protection (Bankr. C.D.
Calif. Case No. 11-16835) on March 2, 2011.  Thomas E. Kent, Esq.,
at Lee & Kent, in Los Angeles, California, serves as the Debtor's
bankruptcy counsel.  The Debtor disclosed $7,691,584 in assets and
$12,253,866 in debts as of the Chapter 11 filing.


ROSSCO HOLDINGS: Plan Outline Hearing Continued Until Jan. 19
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
has continued from Aug. 25, 2011, to Jan. 19, 2012 at 1:30 p.m,
the hearing to consider adequacy of the disclosure statement
explaining Rossco Holdings, Inc. Chapter 11 Plan.

As reported in the Troubled Company Reporter on Aug. 17, 2011, the
Debtor has asked the Court to continue the hearing to determine
the adequacy of its disclosure statement to the same date as a
continued hearing set on the Chapter 11 trustee's disclosure
statement in the Chapter 11 case of Leonard M. Ross, to a date
after Jan. 2, 2012, convenient to the Court's calendar, subject to
further continuance.

The TCR reported that the motion was brought as a companion motion
to the contemporaneously filed Chapter 11 trustee's motion for
order authorizing continuance of hearing to determine adequacy of
disclosure statement filed by Chapter 11 trustee Howard M.
Ehrenberg in the Chapter 11 case of Leonard M. Ross, and the
contemporaneously filed motions seeking identical relief in the
Chapter 11 cases of each of the Debtor's affiliated debtors-in-
possession, on the grounds that the Debtor's plan process must
proceed in tandem with the Chapter 11 trustee's Plan in the Ross
Case in order to maximize recoveries for creditors.

                      About Rossco Holdings

College Station, Texas-based Rossco Holdings, Inc., filed for
Chapter 11 protection (Bankr. W.D. Tex. Case No. 10-60953) on
Aug. 2, 2010.  The new California Case No. of Rossco Holdings is
LA10-55951BB.  David J Richardson, Esq., and Laura L Buchanan,
Esq., at The Creditors' Law Group, represent the Debtor.  The
Debtor disclosed $28,415,681 in assets and $10,567,302 in
liabilities as of the Petition Date.

Affiliates Monte Nido Estates, LLC; LJR Properties, Ltd.; WM
Properties, Ltd.; Colony Lodging, Inc.; and Rossco Plaza, Inc.,
filed separate Chapter 11 petitions.


RQB RESORT: Goldman Sachs Supports Plan Exclusivity Termination
---------------------------------------------------------------
Secured creditor Goldman Sachs Mortgage Company notifies the U.S.
Bankruptcy Court for the Middle District of Florida that it joins
Marriott International Inc.'s motion to terminate RQB Resort, LP,
and RQB Development, LP's exclusive periods to file an solicit
acceptances for the proposed Chapter 11 Plan.

As reported in the Troubled Company Reporter on Aug. 15, 2011,
Marriott International said, "The bankruptcy case has gone on too
long and cost too much money."  Allowing Marriott International to
sponsor a plan "will equitably fulfill the purpose behind" the
right of first refusal in its franchise agreement with Sawgrass
and avoid a $10 million damage claim against the resort for
breaching the provision, Marriott International said in court
papers.  Marriott International said in a filing that it will
bring a motion to compel the resort to assume or reject the
franchise agreement.

According to GSMC, the parties that have the greatest stake in the
future and success of the Sawgrass Marriott Resort, including GSMC
and Marriott, must have the ability to propose a plan which makes
the critical decisions about treatment of vendors, club members,
and executory contracts and license agreements, without being
beholden to the Debtors' outgoing principals, who seek to extort
insider releases and improper insider payments in exchange for
cooperation.

GSMC explains that the Debtors' exclusivity periods must be
terminated because, among other things:

   -- even after giving up on their effort to raise new capital
   and after deciding to turn the property over to GSMC, the
   Debtors still persist in their refusal to negotiate the terms
   of the Plan with creditors;

   -- the Debtors failed to make progress in negotiations with
   their most significant creditor, GSMC, for the reason that they
   refuse to communicate with GSMC; and

   -- the Debtors did not make progress towards reorganization.

                        About RQB Resort LP

RQB Resort LP and RQB Development LP own Florida's Sawgrass
Marriott Resort, the site of the U.S. PGA Tour's Tournament
Players Championship.

Ponte Vedra Beach, Florida-based RQB Resort, LP, aka Sawgrass
Marriott Resort & Cabana Club, filed for Chapter 11 bankruptcy
protection (Bankr. M.D. Fla. Case No. 10-01596) on March 1, 2010.
The Company's affiliate -- RQB Development, LP, aka Sawgrass
Marriott Golf Villas & Spa -- filed a separate Chapter 11
petition.  The Company estimated its assets and debts at
$100 million to $500 million in its Chapter 11 petition.


SEARCHMEDIA HOLDINGS: Five Directors Elected at Annual Meeting
--------------------------------------------------------------
At the annual meeting of stockholders of SearchMedia Holdings
Limited for 2011 and 2010, held on Sept. 13, 2011, the
stockholders elected five nominees to serve as directors of the
Company until the 2012 Annual Meeting of Stockholders:

   (1) Robert Fried;
   (2) Chi-Chuan (Frank) Chen;
   (3) Steven D. Rubin;
   (4) Peter W.H. Tan; and
   (5) Qinying Liu.

Stockholders approved the amendment to the Company's Amended and
Restated 2008 Share Incentive Plan by increasing the number of
authorized ordinary shares available for grant under the 2008 Plan
from 1,796,492 ordinary shares to 3,000,000 ordinary shares.

Marcum Bernstein & Pinchuk LLP has been approved, ratified and
confirmed as the Company's independent registered public
accounting firm for the fiscal year ending Dec. 31, 2011.

                         About SearchMedia

SearchMedia is a leading nationwide multi-platform media company
and one of the largest operators of integrated outdoor billboard
and in-elevator advertising networks in China.  SearchMedia
operates a network of high-impact billboards and one of China's
largest networks of in-elevator advertisement panels in 50 cities
throughout China.  Additionally, SearchMedia operates a network of
large-format light boxes in concourses of eleven major subway
lines in Shanghai.  SearchMedia's core outdoor billboard and in-
elevator platforms are complemented by its subway advertising
platform, which together enable it to provide a multi-platform,
"one-stop shop" services for its local, national and international
advertising clients.

Marcum Bernstein & Pinchuk LLP, in New York, expressed substantial
doubt about SearchMedia Holdings' ability to continue as a going
concern.  The independent auditors noted that the Company has
suffered recurring net losses from operations and has a working
capital deficiency.

The Company reported a net loss of $46.6 million on $49.0 million
of revenues for 2010, compared with a net loss of $22.6 million on
$37.7 million of revenues for 2009.

The Company's balance sheet at Dec. 31, 2010, showed $86.9 million
in total assets, $86.4 million in total liabilities, and
stockholders' equity of $463,000.


SHADY ACRES: Modified Plan of Reorganization Confirmed
------------------------------------------------------
The Hon. Whitney Rimel has confirmed Shady Acres Dairy's modified
plan of reorganization dated Aug. 19, 2011.

Under the modified plan, the Debtor will continue to operate its
business after confirmation of the Plan.  The Debtor has taken
steps to improve its operations including (a) increasing cow
comfort in order to increase milk production, (b) computerized its
feed mixing to control milk cow diet for increased milk production
and reduced feed costs, (c) increase the number of milk cows,
while decreasing nonessential calves and heifers, and (d) work
with the Debtor's veterinarian to address fertility problems and
increase pregnancy levels.

The Debtor believes that these actions have improved its business
and ability to make payments required under the Plan.  Based on
these improvements, the Debtor projects that its business will
generate gross income of about $34.07 million between March 1,
2011, and Feb. 28, 2014.  The Debtor's expenses for the same
period are projected to be $28.6 million.  This will leave net
income of $5.5 million.  The Debtor projects that the payments
required by the Plan will be $4.8 million for the same period.

The Debtor will manage its operations including, but not limited
to, general dairy management, payment processes, and funds
investment.

The treatment of claims under different classification of claims
are:

     A. Class 1 Claims (Administrative Expense Claims) will be
        paid on the Effective Date, or after Court order if
        necessary, unless the claimants agree to a different
        treatment.

     B. Class 2 Claims (Other Priority Claims) will receive no
        distribution because there are no claims of this class.

     C. Class 3 Claim (Secured Claim of Linder Equipment
        Company) was paid in full according to the terms of its
        loan documents in November 2010.

     D. Class 4 Claim (Secured Claim of Laura Merritt) will
        receive the payments required by the Promissory Note and
        Deed of Trust executed in favor of the Class 4 Claimant.
        The Debtor will make monthly payments required by the
        Promissory Note to the Class Four Claimant until the claim
        is paid in full.

     E. Class Five Claim (Secured Claim of Ruth Ann Latson) will
        receive the payments required by the Promissory Note and
        Deed of Trust.

     F. Class 6 Claims (Secured Claims of Farm Credit West, FLCA)
        will be all due and payable on the date that is the 10th
        anniversary of the Effective Date (i.e., an September 1,
        2011 Effective Date would mean each of the Class 6 Claims
        would be all due and payable on September 1, 2021).

     G. Class 7 Claims (Secured Claims of Farm Credit West, PCA)
        will receive payments expected to be received from the
        creamery on Sept. 1, 2011, in accordance with the existing
        loan documents for purposes of determining the amount of
        the Class Seven Claims as of the Effective Date.

     H. Class 8 Claim (Secured Claim of Penny Newman Grain Co.)
        will be paid $3,188.68 per month commencing on the
        Effective Date for a period of five years, at which time
        the claim will be all due and payable.

     I. Class Nine Claim (Secured Claim of Penny Newman Milling)
        will be paid $1,910 per month commencing on the Effective
        Date for a period of five years, at which time the Claim
        will be all due and payable.

     J. Class Ten Claim (Secured Claim of Fresno County Tax
        Collector) will be $4,150 per month commencing on the
        Effective Date for a period of one year, at which time the
        claim will be all due and payable.

     K. Class Eleven Claim (Secured Claim of Western Finance and
        Lease) will be paid $1,400 per month commencing on the
        Effective Date until the Claim is paid in full, including
        principal, accrued interest, and allowed attorneys fees
        and costs.

     L. Class Twelve Claims consist of all executory contracts and
        unexpired leases of the Debtor, which are unimpaired under
        the Plan.  All executory contracts and unexpired leases
        not rejected before the Confirmation Date will be assumed
        under the Plan.  Any general unsecured claim from the
        rejection of executory contracts and unexpired leases will
        be treated as a Class 14 Claim.

     M. The Class Thirteen Claims consist of all allowed general
        unsecured claims owed $3,500 or less.  The Claims will
        not accrue interest and will receive a pro-rata
        distribution of a one-time payment of $4,000 within 30
        days of the Effective Date of the Plan.

     N. Class Fourteen Claims consist of the allowed general
        unsecured claims not included in the Class Thirteen
        Claims.  The Debtor will make payments totaling $50,000
        semi-annually commencing in November 2011, and continuing
        each May and November of each year through May 2016, or
        until all claims are paid in full, whichever is first.

      O. Class Fifteen Claims (Interests of Beverly Anker, Edward
         Anker, Jr., Christopher Anker and Joshua Anker) will
         retain their interests in Debtor.

      P. Class Sixteen Claims are the claims or interests held by
         the Debtor.  The Debtor will retain its assets and will
         not be required to liquidate any of its assets.

The Debtor will manage its affairs subject to the provisions of
he Plan without the appointment of a trustee or other outside
management or control.

A full-text copy of the Debtor's modified plan is available for
free at http://bankrupt.com/misc/SHADYACRES_planmodified.pdf

                     About Shady Acres Dairy

Visalia, California-based Shady Acres Dairy is engaged in a dairy
and farming business in Fresno and Tulare Counties, California.
It filed for Chapter 11 protection (Bankr. E.D. Calif. Case No.
10-19058) on Aug. 9, 2010.  Hagop T. Bedoyan, Esq., at Klein,
Denatale, Goldner, Cooper, Rosenlieb & Kimball, LLP, represents
the Debtor.  The Company disclosed $23,953,922 in assets and
$23,462,173 in liabilities as of the Petition Date.


SHEA HOMES: S&P Affirms 'B' Corp. Credit Rating; Outlook Stable
---------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook on Shea
Homes L.P. and its subsidiary, Shea Homes Funding Corp., to stable
from positive. "We also affirmed our 'B' corporate credit and
senior secured issue ratings on Shea, and the recovery rating on
the company's secured debt remains '4', indicating our expectation
for an average (30%-50%) recovery in the event of a payment
default," S&P related.

"We revised our outlook on the company to stable because we do no
expect meaningful improvement in the homebuilding sector in the
next 12 months," said credit analyst Matthew Lynam. "Our ratings
and outlook on Shea reflect ongoing weakness in the homebuilder's
core markets, as illustrated by low sales absorption levels and
negligible pricing power, which will continue to weigh on
profitability."

                            Outlook

"The outlook is stable. We expect homebuilding fundamentals to
remain weak over the next year and the company to prudently
conserve cash while delivering a modest level of new homes from
its existing platform. We would consider a downgrade if liquidity
drops below $100 million, possibly from aggressive land
acquisitions or accelerated cash burn. Absent improved prospects
for a better pricing environment or higher near term sales
absorption, an upgrade is unlikely in the next 12 months," S&P
related.


SHENGDATECH INC: CRO and Members OK'd to Act on Debtor's Behalf
---------------------------------------------------------------
Hon. Bruce T. Beesley of the U.S. Bankruptcy Court for the
District of Nevada appointed Michael Kang, chief restructuring
officer, and Carl Mudd and Sheldon Saidmann, members of the
special committee of the board of directors of Shengdatech, Inc.,
as representatives authorized to act on behalf of the Debtor.

As reported in the Troubled Company Reporter on Sept. 14, 2011,
the chief restructuring officer for ShengdaTech Inc. was granted a
preliminary injunction preventing founder and controlling
shareholder Chen Ziangzhi from interfering with management.

The TCR also reported that the ruling by Judge Bruce T. Beesley
described how outside auditors discovered "serious discrepancies
in [the company's] financial statements" in March.  Further
investigation by a special committee of the board concluded that
"certain" financial records "may have been falsified in whole or
in part," Judge Beesley said.  The judge is preventing Mr. Chen or
anyone else from interfering with management, displacing the chief
restructuring officer, or appointing another member to the
deadlocked four-member board.

The Court ruled that the CRO and members may exercise the power to
act on behalf of the Debtor without further action by the Debtor's
directors or stockholders.

                     About ShengdaTech

Headquartered in Shanghai, China, ShengdaTech, Inc., makes nano
precipitated calcium carbonate for the tire industry.
ShengdaTech converts limestone into nano-precipitated calcium
carbonate (NPCC) using its proprietary and patent-protected
technology.  NPCC products are increasingly used in tires, paper,
paints, building materials, and other chemical products.  In
addition to its broad customer base in China, the Company
currently exports to Singapore, Thailand, South Korea, Malaysia,
India, Latvia and Italy.

ShengdaTech sought Chapter 11 bankruptcy protection from creditors
(Bankr. D. Nev. Case No. 11-52649) on Aug. 19, 2011, in Reno,
Nevada, in the United States.

The Shanghai-China based company said in its bankruptcy filing it
would fire all of its officers and restructure to try to recover
from an accounting scandal.

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

The Company's legal representative in its Chapter 11 case is
Greenberg Traurig, LLP.  The Board of Directors Special
Committee's legal representative is Skadden, Arps, Slate, Meagher
& Flom LLP.  On Aug. 23, 2011, the Court entered an interim order
confirm the Board of Directors Special Committee's appointment of
Michael Kang as the Debtor's chief restructuring officer.


SHENGDATECH INC: Taps Skadden Arps & Three Other Firms
------------------------------------------------------
BankruptcyData.com reports that ShengdaTech filed with the U.S.
Bankruptcy Court motions to retain:

   * Lionel Sawyer & Collins (Contact: Jennifer A. Smith) as
     Nevada special counsel to the Company (acting through
     the special committee of the board) at the following
     hourly rates attorney at $185 to $650, law clerk at $140
     and paralegal at $160 to $200;

   * Greenberg Traurig (Contact: Nancy A. Peterman) as counsel
     at the following hourly rates: shareholder at $340 to $935,
     of counsel/special counsel at 360 to $935, associate at $175
     to $610 and legal assistant/paralegal at $60 to $310;

   * Skadden, Arps, Slate, Meagher & Flom (Contact: John K. Lyons)
     as special counsel at the following hourly rates: partner at
     $795 to $1,095, counsel and special counsel at $770 to $860,
     associate at $365 to $710 and paraprofessional at $195 to
    $295;
     and

   * PricewaterhouseCoopers (PwC) and PricewaterhouseCoopers
     Consultants (Shenzhen) (Contact: Daniel Williams) as forensic
     accountant to the Company (acting through the special
     committee of the board) at the following hourly rates for
     PWC: partner/principal at $750, director/senior manager at
     $550 to $590, manager at $420, senior associate at $350,
     associate at $295 and secretarial at $100 and the following
     hourly rates for PwC Consultants: partner at (RMB) $4,485,
     director at $4,095, associate director at $3,705, senior
     manager at $3,315, manager at $2,600, assistant manager at
     $1,950, senior associate at $1,625 and associate at 878.

                         About ShengdaTech

Headquartered in Shanghai, China, ShengdaTech, Inc., makes nano
precipitated calcium carbonate for the tire industry.
ShengdaTech converts limestone into nano-precipitated calcium
carbonate (NPCC) using its proprietary and patent-protected
technology.  NPCC products are increasingly used in tires, paper,
paints, building materials, and other chemical products.  In
addition to its broad customer base in China, the Company
currently exports to Singapore, Thailand, South Korea, Malaysia,
India, Latvia and Italy.

ShengdaTech sought Chapter 11 bankruptcy protection from creditors
(Bankr. D. Nev. Case No. 11-52649) on Aug. 19, 2011, in Reno,
Nevada, in the United States.

The Shanghai-China based company said in its bankruptcy filing it
would fire all of its officers and restructure to try to recover
from an accounting scandal.

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

The Company's legal representative in its Chapter 11 case is
Greenberg Traurig, LLP.  The Board of Directors Special
Committee's legal representative is Skadden, Arps, Slate, Meagher
& Flom LLP.  On Aug. 23, 2011, the Court entered an interim order
confirm the Board of Directors Special Committee's appointment of
Michael Kang as the Debtor's chief restructuring officer.

Alvarez & Marsal North America, LLC, is the Company's chief
restructuring officer.


SK FOODS: Dist. Ct. to Consider Whether to Hear Trustee's Suit
--------------------------------------------------------------
Senior District Judge Lawrence K. Karlton will consider at a
hearing on Oct. 24 the defendants' motion to withdraw bankruptcy
court reference of the case, Bradley D. Sharp, Chapter 11 Trustee,
v. SKPM Corp., et al., (In re SK Foods, L.P.), Adv. Pro. No. 11-
2337 (Bankr. Case No. 09-29162-D-11).  Judge Karlton denied the
defendants' Sept. 12, 2011 ex parte "emergency" motion for an
order staying all bankruptcy court proceedings in Sharp v. SKPM
Corp.  A copy of Judge Karlton's Sept. 14, 2011 Order is available
at http://is.gd/jySFmffrom Leagle.com.

SK Foods LP ran a tomato processing facility.  It filed for
Chapter 11 bankruptcy protection after being dropped by its
lending group.  Creditors filed an involuntary Chapter 11 petition
against SK Foods LP and affiliate RHM Supply/ Specialty Foods Inc.
(Bankr. E.D. Calif. Case No. 09-29161) on May 8, 2009.  SK Foods
had said it was preparing to file a voluntary Chapter 11 petition
when the creditors initiated the involuntary case.  The Company
later put itself into Chapter 11 and Bradley D. Sharp was
appointed as Chapter 11 trustee.  The Debtors were authorized on
June 26, 2009, to sell the business for $39 million cash to a U.S.
arm of Singapore food processor Olam International Ltd.  The
replacement cost for the assets is $139 million, according to
Olam.

As reported by the Troubled Company Reporter on Feb. 19, 2010, a
federal grand jury returned a seven-count indictment charging
Frederick Scott Salyer, former owner and CEO of SK Foods, with
violations of the Racketeer Influenced and Corrupt Organizations
Act, in connection with his direction of various schemes to
defraud SK Foods' corporate customers through bribery and food
misbranding and adulteration, and with wire fraud and obstruction
of justice.


SOLYNDRA LLC: U.S. Treasury Probes $535-Mil. Loan
-------------------------------------------------
Samuel Howard at Bankruptcy Law360 reports that the U.S.
Department of the Treasury's inspector general on Thursday
launched an investigation into a $535 million government loan to
bankrupt Solyndra LLC, adding to the furor over the solar panel
maker's collapse.

Law360 says Solyndra, once a centerpiece of President Barack
Obama's green jobs initiative, filed for bankruptcy protection
earlier in September, prompting a raid by the FBI as well as
investigations by the U.S. Department of Energy and Congress into
the company's government backing and sudden failure.

                       About Solyndra LLC

Founded in 2005, Solyndra LLC is a U.S. manufacturer of solar
photovoltaic solar power systems specifically designed for large
commercial and industrial rooftops and for certain shaded
agriculture applications.  The Company had approximately 968 full
time employees and 211 temporary employees.  Solyndra has sold
more than 500,000 of its panels since 2008 and generated
cumulative sales of over $250 million.

Fremont, California-based Solyndra and affiliate 360 Degree Solar
Holdings Inc. sought Chapter 11 bankruptcy protection (Bankr. D.
Del. Lead Case No. 11-12799) on Sept. 6, 2011.  Solyndra is at
least the third solar company to seek court protection from
creditors since August 2011.

Solyndra owed secured lenders $783.8 million, including
$527.8 million to the U.S. government pursuant to a federal loan
guarantee, and held assets valued at $859 million as of the
Petition date.  The U.S. Federal Financing Bank, owned by the U.S.
Treasury Department, is the Company's biggest lender.

In the Chapter 11 cases, the Debtors are pursuing a two-pronged
strategy to effectuate either a sale of their business to a
"turnkey" buyer who may acquire substantially all of Solyndra's
assets or, if the Debtors are unable to identify any such
potential buyers, an orderly liquidation of the Debtors' assets
for the benefit of their creditors.

Judge Mary F. Walrath presides over the Debtors' cases.  The
Debtors are represented by Pachulski Stang Ziehl & Jones LLP as
legal adviser.


SOLYNDRA LLC: Can Pay Prepetition Claims of Service Providers
-------------------------------------------------------------
The Hon. Mary F. Walrath of the U.S. Bankruptcy Court for the
District of Delaware authorized Solyndra LLC and its debtor
affiliates to pay prepetition claims of essential service
providers and warehousemen in an amount not exceeding $3,150,000.

However, the payment of the prepetition claims will not be deemed
to be a waiver of rights regarding the extent, validity,
perfection or possible avoidance of the payments and any related
liens.

The Debtors do not concede that any liens (contractual, common
law, statutory, or otherwise) satisfied pursuant to this order are
valid, and the Debtors expressly reserve the right to contest the
extent, validity, or perfection or seek the avoidance of all such
liens.

In return for paying the Critical Vendor Claims, the Debtors will
use their reasonable best efforts to require the applicable
Critical Vendor to provide favorable trade credit terms for the
postpetition delivery of goods and services.  Specifically, the
Debtors propose to condition the payment of Critical Vendor Claims
upon each Critical Vendor's agreement to continue supplying goods
and services on terms that are acceptable to the Debtors.  In some
circumstances, the Debtors may require certain Critical Vendors to
enter into a contractual agreement evidencing those terms.

If a Critical Vendor accepts payment pursuant to this order, and
thereafter does not continue to provide goods or services on
prepetition trade terms, then:

   (a) any payment to that Critical Vendor on account of a
       Critical Vendor Claim may be deemed to be an improper
       postpetition transfer, and, thus, recoverable by the
       Debtors in cash upon written request; and

   (b) upon recovery of the payment by the Debtors, the Critical
       Vendor Claim will be reinstated as if the payment had not
       been made.

If there exists an outstanding postpetition balance due from the
Debtors to a Critical Vendor, the Debtors may elect to
recharacterize and apply any payment made to the outstanding
postpetition balance and the Critical Vendor will be required to
repay to the Debtors those paid amounts that exceed the
postpetition obligations then outstanding without the right of any
setoffs, claims, provisions for payment of any claims, or
otherwise.

                       About Solyndra LLC

Founded in 2005, Solyndra LLC is a U.S. manufacturer of solar
photovoltaic solar power systems specifically designed for large
commercial and industrial rooftops and for certain shaded
agriculture applications.  The Company had approximately 968 full
time employees and 211 temporary employees.  Solyndra has sold
more than 500,000 of its panels since 2008 and generated
cumulative sales of over $250 million.

Fremont, California-based Solyndra and affiliate 360 Degree Solar
Holdings Inc. sought Chapter 11 bankruptcy protection (Bankr. D.
Del. Lead Case No. 11-12799) on Sept. 6, 2011.  Solyndra is at
least the third solar company to seek court protection from
creditors since August 2011.

Solyndra owed secured lenders $783.8 million, including
$527.8 million to the U.S. government pursuant to a federal loan
guarantee, and held assets valued at $859 million as of the
Petition date.  The U.S. Federal Financing Bank, owned by the U.S.
Treasury Department, is the Company's biggest lender.

In the Chapter 11 cases, the Debtors are pursuing a two-pronged
strategy to effectuate either a sale of their business to a
"turnkey" buyer who may acquire substantially all of Solyndra's
assets or, if the Debtors are unable to identify any such
potential buyers, an orderly liquidation of the Debtors' assets
for the benefit of their creditors.

Judge Mary F. Walrath presides over the Debtors' cases.  The
Debtors are represented by Pachulski Stang Ziehl & Jones LLP as
legal adviser.


SOTERA DEFENSE: Moody's Assigns B3 Rating to $35-Mil. Term Loan
---------------------------------------------------------------
Moody's Investors Service has assigned the planned $35 million
first-lien term loan of Sotera Defense Solutions, Inc. a B3
rating. All of Sotera's existing ratings, including the B3
corporate family rating, remain unaffected. The rating outlook is
stable.


The ratings are:

Corporate Family, unchanged at B3

Probability of Default, unchanged at B3

$28 million first lien revolver due April 2016, unchanged at B3
LGD3, to 46% from 44%

$145 million first lien term loan due April 2017, unchanged at B3
LGD3, to 46% from 44%

$35 million incremental first lien term loan due April 2017,
assigned at B3 LGD3 46%

Outlook, Stable

RATINGS RATIONALE

Term loan proceeds will provide acquisition financing for the
company's purchase of Software Process Technologies, Inc. ("SPT"),
a transaction in-step with Sotera's growth-through-acquisition
strategy. The SPT transaction will be the third significant
acquisition since late 2010 within the company's Technology and
Intelligence Services, and the first purchase since Sotera's LBO
of April 2011. Consistent with prior acquisitions, SPT will add
contract-based services revenues within the U.S. intelligence
community and bring potential cross-selling synergies. The
transaction somewhat lessens weight within the revenue mix from
the company's, historically more volatile, troop mobility product
segment. Although the SPT purchase price multiple is high, a
relatively sizable equity contribution from Sotera's financial
sponsor helps minimize the resulting credit metric impact.

The corporate family rating incorporates Sotera's limited size and
contract diversity, integration risks accompanying the rapid
growth strategy, and likelihood of leverage remaining elevated as
the company continues acquiring scale. A good backlog to revenue
ratio and a meaningful portion of services revenues focused on
federal law enforcement/intelligence community areas-areas where
outlays should be less vulnerable to lower U.S. defense outlays--
helps the rating.

Upward rating momentum would depend on demonstration of debt to
EBITDA sustained below 5x, EBITDA margin above 11% and free cash
flow to debt in the high single digit percentage range. Downward
rating pressure would mount with debt to EBITDA above 7x, EBIT to
interest below 1x or a weak liquidity profile (all metrics Moody's
adjusted basis).

The principal methodology used in rating Sotera was the Global
Aerospace and Defense Industry Methodology published in June 2010.
Other methodologies used include Loss Given Default for
Speculative-Grade Non-Financial Companies in the U.S., Canada and
EMEA published in June 2009.

Sotera Defense Solutions, Inc. ("Sotera"), headquartered in
McLean, Virginia, provides mission-critical technology-based
systems, solutions and services for national security agencies and
programs of the U.S. government. Moody's estimates the annual
revenue base to be approximately $360 million. The company is
majority-owned by an affiliate of Ares Management LLC.


SOUTHERN STAR: Moody's Raises Senior Unsecured Rating to 'Ba1'
--------------------------------------------------------------
Moody's Investors Service has upgraded the senior unsecured rating
of Southern Star Central Corp. (SSCC) to Ba1 from Ba2. At the same
time Moody's affirmed the senior unsecured rating of SSCC's main
operating subsidiary, Southern Star Central Gas Pipeline Inc.
(SSCGP) at Baa3. The outlook for both issuers has been changed to
stable from positive.

Concurrent with these rating actions Moody's has withdrawn the
Corporate Family Rating (CFR) and the Probability of Default
Rating (PDR) of SSCC, as the CFR and PDR are only used for
speculative grade issuers. All related Loss Given Default
assessments have also been withdrawn.

RATINGS RATIONALE

The rating action acknowledges the continued good performance and
healthy credit metrics of SSCGP's pipeline operations and the
maintenance of credit metrics at the parent level that border on
investment grade. Moody's notes SSCC's FFO to debt for the LTM
period ended June 30, 2011 was 14% (Moody's Baa range for natural
gas pipelines is 15-25%). Prospectively, Moody's believes the
pipeline will continue its organic growth through incremental
projects in the Midwest and that the stable financial performance
of the consolidated entity will continue. This is premised on the
continuation of the pipeline's shipper relationships, including
near-term contract renewals, and credit supportive financial
policies carried out by the SSCC's owners, GE Energy Financial
Services, and Morgan Stanley Infrastructure Partners.

Factored into the rating action is the consolidated leverage that
continues at the parent, particularly given SSCC's sole reliance
on SSCGP's dividends for debt service and the relative absence of
any material regulatory ring-fencing of the pipeline. These
factors are a main driver of the closing of the notching between
the two entities.

Challenges and constraints to the rating of both entities remain
the relatively small service area, the need to access supply from
several gas basins, the large refinancing risk facing the entities
in 2016, and the lack of any committed external working capital
facilities. These concerns notwithstanding, the rating assumes
that stable cash flows at the company will continue as Moody's
believes the company will be successful in renewing contracts with
shippers.

The rating outlook for both entities is stable reflecting an
expectation that financial performance will remain similar to
recent financial results as the degree of revenue certainty
remains strong for the next few years.

We believe consolidated credit metric strengthening would be
necessary for any further positive rating action. Medium-term
events/concerns include the requirement of a new FERC rate case in
2013 and refinancing risk in 2016, given the fact that
substantially all of the company's debt matures that year. As a
general matter, Moody's also believes closely held companies can
raise questions regarding corporate governance, disclosure and
liquidity, among others. That being said, Moody's believes the
current owners have managed the company conservatively and barring
any strategic or event driven change, Moody's believes their
future strategy will continue to be supportive of a stable credit
profile. Any deviation from this strategy or increased
consolidated leverage could place negative pressure on the
ratings.

Upgrades:

   Issuer: Southern Star Central Corp.

   -- Senior Unsecured Regular Bond/Debenture, Upgraded to Ba1
      from Ba2

Outlook Actions:

   Issuer: Southern Star Central Corp.

   -- Outlook, Changed To Stable From Positive

   Issuer: Southern Star Central Gas Pipeline, Inc.

   -- Outlook, Changed To Stable From Positive

Withdrawals:

   Issuer: Southern Star Central Corp.

   -- Probability of Default Rating, Withdrawn, previously rated
      Ba1

   -- Corporate Family Rating, Withdrawn, previously rated Ba1

   -- Senior Unsecured Regular Bond/Debenture, Withdrawn,
      previously rated 80 - LGD5, LGD5, 80 %

The last rating action on SSCC and SSCGP was on August 13, 2010
when Moody's changed the outlooks for both issuers to positive
from stable.

The principal methodology used in this rating was Natural Gas
Pipeline published in December 2009.

Southern Star Central Corporation, headquartered in Owensboro,
Kentucky, is an intermediate holding company for Southern Star
Central Gas Pipeline Inc., a natural gas transmission system
spanning over 6,000 miles in the Midwest and Mid-continent regions
of the United States.


SPARTA COMMERCIAL: Delays Filing of Quarterly Report on Form 10-Q
-----------------------------------------------------------------
Sparta Commercial Services, Inc., informed the U.S. Securities and
Exchange Commission that it is in the process of preparing and
reviewing the financial and other information for its Form 10-Q
report for the quarterly period ended July 31, 2011, and does not
expect the report will be finalized for filing by the prescribed
due date without unreasonable effort or expense.  The Company
needs additional time to complete its financial statements, as
well as to have the report reviewed by its accountants and
attorneys.  The Company undertakes the responsibility to file such
report no later than five days following the prescribed due date.

                      About Sparta Commercial

Based in New York, Sparta Commercial Services, Inc.
-- http://www.spartacommercial.com/-- is a nationwide financial
services company offering financing and leasing products to
consumers and retail powersports dealers.  Sparta also serves
municipal and governmental agencies nationwide with its Municipal
Lease Program, which offers financing for essential equipment for
the law enforcement and emergency response communities.

The Company's subsidiary, Specialty Reports, Inc. d/b/a Cyclechex,
is in the business of offering online access to detailed product
ownership and usage reports for various classes of previously
owned assets.  Cyclechex's initial product release is the
Cyclechex Motorcycle History Report.

The Company's balance sheet at June 30, 2011, showed $1.48 million
in total assets, $4.43 million in total liabilities and a $2.94
million total deficit.

RBSM LLP, in New York, noted that the company has suffered
recurring losses from operations that raises substantial doubt
about the company's ability to continue as a going concern.


SPOT MOBILE: Delays Filing of Quarterly Report on Form 10-Q
-----------------------------------------------------------
Spot Mobile International Ltd. was unable to file its Form 10-Q
for the period ended July 31, 2011, within the prescribed time
period given the transactions out of the ordinary course of
business that occurred during the quarter, as well as recent
events, and, as a result, required additional time to prepare and
review its financial statements and the notes thereto.  Such delay
could not be eliminated by the Company without unreasonable effort
and expense.  The Company intends to file its Form 10-Q on or
before the extended deadline of Sept. 19, 2011.

                         About Spot Mobile

Spot Mobile, formerly Rapid Link Incorporated --
http://www.rapidlink.com/-- is a telecommunications services
company which, through its wholly owned subsidiary, provides
prepaid telecommunication and transaction based point of sale
activation solutions through 1,000 independent retailers in the
Eastern United States.  The Company also provides long distance
services and plans to expand its product offering to include
mobile and wireless services.

The Company reported a net loss of $3.56 million on $16.08 million
of revenue for the year ended Oct. 31, 2010, compared with a net
loss of $712,601 on $23.74 million of revenue during the prior
year.

The Company's balance sheet at Jan. 31, 2011, showed $3.32 million
in total assets, $5.22 million in total liabilities and $1.90
million in total shareholders' deficit.


SSI GROUP: To Sell Restaurant Chain in Bankruptcy
-------------------------------------------------
SSI Group Holding Corp. sought bankruptcy protection (Bankr. D.
Del. Case No. 11-12917) in Wilmington, Delaware, after months of
lackluster performance at its two struggling restaurant chains,
which combined operate about 120 locations, and its debts mounted
to $47.5 million.  Judge Mary F. Walrath presides over the case.
SSI reported $23.9 million in assets.

SSI is behind two southern restaurant chains -- the healthy Souper
Salad chain and "comfort food"-serving Grandy's restaurants.

Hilary Russ at Bankruptcy Law360 reports that SSI Group Holding
Corp., the owner of Grandy's and Souper Salad restaurants, won
access Thursday to $6 million in financing, a key first step after
it filed for Chapter 11 protection in order to sell off its
Grandy's assets.

In its bankruptcy petition and other first-day filings in Delaware
bankruptcy court Wednesday, SSI detailed its massive debt
liabilities and said that after operating for over a year without
a working capital facility, it was now desperate for cash in order
to stay afloat, according to Law360.


Katy Stech, writing for Dow Jones' Daily Bankruptcy Review,
reports that Dan Patel, Souper Salad Inc.'s vice president of
finance, in court documents pointed to a handful of setbacks that
made it tough for the holding company to pay off its loans,
including the "steep rise in food costs, severe and atypical
weather in key areas such as Texas" that kept customers home and
building rents it can't afford.

DBR notes Souper Salad recently shut down 24 locations, a
retrenchment that ended a four-year-old aggressive campaign to
grow the brand. About half of the remaining restaurants for both
restaurant chains are controlled by franchisees.

DBR relates SSI in June defaulted on a $4 million senior loan owed
to a group led by Wells Fargo Capital Finance.  The company and
its affiliates also have $37.2 million in junior debt to companies
affiliated with Summitbridge National Investments Inc. and Sun
Capital Partners.  Summitbridge National Investments owns 55% of
SSI Group while distressed-debt investors Sun Capital Partners
Inc. own the remaining 45%, according to court documents.

DBR also reports that SSI Group is asking for a bankruptcy judge
to approve a $6 million bankruptcy loan from its senior lenders
who, in turn, demanded that the company put Grandy's, which serves
"home-style quality food," up for sale.  The company said it would
use those sale proceeds to pay off that senior loan.

The report also notes an affiliate of Sun Capital Partners named
after a fish fast food chain it owns, Captain D's LLC, has already
put forth the first $6 million auction bid for the chain.

DBR also relates SSI is still looking for a buyer for the 33-year-
old Souper Salad chain.

DBR also says the two chains employed about 1,300 people.  SSI has
already asked for court permission to continue paying workers and
honor customer gift cards throughout the case.


SSI GROUP: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: SSI Group Holding Corp.
        4004 Belt Line Road, Suite 160
        Addison, TX 75001

Bankruptcy Case No.: 11-12917

Affiliates that simultaneously sought Chapter 11 protection on
September 14, 2011:

        Debtor                        Case No.
        ------                        --------
Souper Salad, Inc.                    11-12918
SSI-Grandys LLC                       11-12919
Souper Brands, Inc.                   11-12920

Chapter 11 Petition Date: September 14, 2011

Court: U.S. Bankruptcy Court
       District of Delaware (Delaware)

Judge: Mary F. Walrath

Debtor's Counsel: Mark E. Felger, Esq.
                  COZEN O'CONNOR
                  1201 N. Market Street, Suite 1400
                  Wilmington, DE 19801
                  Tel: (302) 295-2087
                  Fax: (302) 295-2013
                  E-mail: mfelger@cozen.com

Debtor's
Bankruptcy and
Reorganization
Counsel:          PROSKAUER ROSE LLP

Debtor's
Financial
Advisor:          MORGAN JOSEPH TRIARTISAN LLC

Debtor's
Claims and
Noticing
Agent:            EPIQ BANKRUPTCY SOLUTIONS

Total Assets: $23.9 million

Total Debts:  $47.5 million

The petition was signed by Dan Patel, vice president of finance.

List of 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Glazier Foods Company Inc.         Trade                  $470,477
11303 Antoine
Houston, TX 77066

Valassis Lockbox Service           Trade                  $181,614
235 Great Pond Drive
Windsor, CT 06095

Vistar Corporation                 Trade                  $126,119
8001 East 88th Avenu
Henderson, CO 80640

Pyro Brand Development LLC         Trade                   $95,684

CNL APF Partners LP                Trade                   $89,409

Brothers Produce of Dallas         Trade                   $79,335

Infosync Services                  Trade                   $66,650

Brothers Produce Inc.              Trade                   $65,261

SLM Waste & Recycling Services     Trade                   $50,303

Jason Edwards                      Trade                   $43,366

Fishbowl Inc.                      Trade                   $36,999

River City Produce                 Trade                   $36,249

Ecolab Inc.                        Trade                   $36,066

Crowe Horwath LLP                  Auditors                $35,100

Accel Networks LLC                 Trade                   $33,896

Epicurean Foods                    Trade                   $33,025

Quality Fruit                      Trade                   $32,639

Montgomery Coscia Greilich         Trade                   $27,443

Radiant Systems, Inc.              Trade                   $27,420

Arsenal Security Group, Inc.       --                      $25,594


SUSPECT DETECTION: Posts $1.5 Million Net Loss in Second Quarter
----------------------------------------------------------------
Suspect Detection System Inc. filed its quarterly report on Form
10-Q, reporting a net loss of $1.5 million on $129,861 of revenues
for the three months ended June 30, 2011, compared with a net loss
of $240,340 on $717,403 of revenues for the same period last year.

For the six months ended June 30, 2011, the Company had a net loss
of $920,782 on $1.7 million of revenues, compared with a net loss
of $418,893 on $1.3 million of revenues for the same period of
2010.

As reported in the TCR on March 28, 2011, Yarel + Partners, in
Tel-Aviv, Israel, expressed substantial doubt about Suspect
Detection System's ability to continue as a going concern,
following the Company's 2010 results.  The independent auditors
noted that the Company has not established sufficient sources of
revenue to cover its operating costs and expenses.  "As such, it
has incurred an operating loss since inception.  Further, as of
Dec. 31, 2010, the cash resources of the Company were insufficient
to meet its planned business objectives."

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

                       http://is.gd/1g74s2

New York-based Suspect Detection Systems, Inc., is a Delaware
corporation that conducts its operations through its 58% owned
subsidiary, Suspect Detection Systems Ltd., an Israeli
corporation.  SDS - Israel specializes in the development and
application of proprietary technologies for law enforcement and
border control, including counter terrorism efforts, immigration
control and drug enforcement, as well as human resource
management, asset management and the transportation sector.


TERRESTAR CORPORATION: Objects to Appointment of Examiner
---------------------------------------------------------
BankruptcyData.com reports that TerreStar Corporation filed with
the U.S. Bankruptcy Court an objection to the motion filed by
common equity holder Jeffrey M. Swarts seeking the appointment of
an examiner in the Debtors' bankruptcy case.

BData relates that the Debtors assert, "It is clear that the
request is nothing but a tactic by Mr. Swarts to have his
confirmation objections funded by the TSC Debtors' estates and to
delay and obstruct the TSC Debtors' reorganization."

Solus Alternative Asset Management also filed a similar objection
to the motion, according to the report.

           About TerreStar Corp. and TerreStar Networks

TerreStar Corporation and TerreStar Holdings, Inc., filed
voluntary Chapter 11 petitions with the U.S. Bankruptcy Court for
the Southern District of New York on Feb. 16, 2011.

TSC's Chapter 11 filing joins the bankruptcy proceedings of
TerreStar Networks Inc. and 12 other affiliates, which filed on
Oct. 19, 2010.  The October Chapter 11 cases are procedurally
consolidated under TSN's Case No. 10-15446 under Judge Sean H.
Lane.

TSC is the parent company of each of the October Debtors.  TSC has
four wholly owned direct subsidiaries: TerreStar Holdings, Inc.,
TerreStar New York Inc., Motient Holdings Inc., and MVH Holdings
Inc.

TSC's case is jointly administered with the cases of seven of the
October Debtors under the caption In re TerreStar Corporation, et
al., Case No. 11-10612 (SHL).  The seven Debtor entities who
sought joint administration with TSC are TerreStar New York Inc.,
Motient Communications Inc., Motient Holdings Inc., Motient
License Inc., Motient Services Inc., Motient Ventures Holdings
Inc., and MVH Holdings Inc.


TEXAS INDUSTRIES: Plant Gets "Imminent Danger" Order
----------------------------------------------------
Dow Jones' DBR Small Cap reports that Texas Industries said that
one of its aggregate plants in Texas received an "imminent danger"
order, an extremely serious citation issued by the Mine Safety and
Health Administration (MSHA) after observing an employee working
under a conveyor belt held up by a forklift--which was parked on
an incline with the engine running.

This sounded like an issue that TXI can fix, and quickly, unlike
the punishing deterioration in its financial condition which has
accelerated over the past year, according to the report.

The report notes that there could be a negative surprise next week
when the company may report results for the fiscal first period
ended in August--typically one of its strongest quarters of the
year.

                   About Texas Industries

Texas Industries, Inc, headquartered in Dallas, Texas manufactures
cement, aggregates and ready-mixed concrete. The company serves
end-use markets such as public works, commercial, industrial,
institutional and residential construction sectors, and energy
markets. Texas Industries typically generates approximately 80% of
its revenues in Texas and 20% in California, which were
approximately $622 million in the last twelve months ending
February 28, 2011.

                        *     *     *

As reported in the Troubled Company Reporter on June 16, 2011,
Moody's Investors Service downgraded Texas Industries' Corporate
Family Rating and Probability of Default Rating to Caa1 from B3,
the rating of its $650 million senior unsecured notes to Caa2 from
B3, and the rating of the company's $200 million ABL credit
facility to B1 from Ba3. The outlook is stable.


TEXTRON INC: Moody's Keeps 'Ba1' Junior Subordinate Ratings
-----------------------------------------------------------
Moody's Investors Service assigned Baa3 ratings to the combined
$500 million of senior unsecured notes due 2016-2021 issued by
Textron Inc. (Textron or the company). Textron intends to utilize
the net proceeds from the offerings to fund a portion of its
concurrent tender offer for $600 million of existing 4.5% senior
convertible notes due May 2013. The total redemption price is
dependent upon bondholder participation rates and could entail a
meaningful premium to face value to incentivize participation and
compensate noteholders for the bond parity value relative to the
company's higher share price and remaining option value through
maturity, as well as a likely requisite inducement premium. "This
transaction capitalizes on attractive financing markets to extend
the company's maturity profile, which coupled with improving
financial performance can be accommodated at current rating
levels, notwithstanding some modest expected incremental
leveraging of the balance sheet via the extinguishment of an
equity-linked near-term debt maturity at an anticipated premium
price," according to Russell Solomon, Moody's Senior Vice
President and lead analyst for the company.

Moody's Investors Service maintains the following ratings for
Textron Inc. and its financing subsidiaries:

Textron Inc.

Senior Unsecured (domestic currency) ratings of Baa3

Senior Unsecured (foreign currency) ratings of Baa3

Senior Unsecured MTN (domestic currency) ratings of Baa3

Senior Unsecured MTN (foreign currency) ratings of Baa3

Senior Unsecured Bank Credit Facility (domestic currency) ratings
of Baa3

Subordinate MTN (domestic currency) ratings of (P)Ba1

Senior Unsecured Shelf (domestic currency) ratings of (P)Baa3

Subordinate Shelf (domestic currency) ratings of (P)Ba1

Junior Subord. Shelf (domestic currency) ratings of (P)Ba1

Preffered Shelf (domestic currency) ratings of (P)Ba2

Commercial Paper (domestic currency) ratings of P-3

Other Short Term (foreign currency) ratings of (P)P-3

Textron Financial Canada Funding Corporation

BACKED Senior Unsec. Shelf (foreign currency) ratings of (P)Baa3

Textron Financial Corporation

Senior Unsecured (domestic currency) ratings of Baa3

Senior Unsecured MTN (domestic currency) ratings of (P)Baa3

Junior Subordinate (domestic currency) ratings of Ba1

Senior Unsecured Shelf (domestic currency) ratings of (P)Baa3

BACKED Senior Unsecured MTN (domestic currency) ratings of (P)Baa3

BACKED Senior Unsecured Shelf (domestic currency) ratings of
(P)Baa3

BACKED Other Short Term (domestic currency) ratings of (P)P-3

The rating outlook is stable.

RATINGS RATIONALE

The Baa3 senior unsecured debt rating reflects Textron's large
size and scale and the market leadership position of its aerospace
and defense segments, the company's diversified revenue streams
from commercial and defense aerospace and industrial segments, and
the relative predictability of its revenue streams with a backlog
approximating $11 billion. Key credit metrics have improved as
Textron's defense-related business (through Bell Helicopters and
Textron Systems segments) and the Industrial segment have
performed better than expected and generated steady profits. Cash
flow metrics (Retained Cash Flows-to-Debt of 25.8% for the twelve
month period ended July 2, 2011) have improved to levels that are
more appropriate for the rating category. Leverage remains high
(Debt-to-EBITDA of 4.2 times) but should continue to decline from
the combination of debt reduction facilitated by cash flow from
the manufacturing businesses and improved earnings.

Challenging conditions in the business jet market are expected to
negatively impact Cessna over the coming year, even as the
developed economies continue to recover. Cessna, which had been
the biggest driver of growth and cash flow in the past, will
struggle for some time to be a major contributor to Textron's
profits. Business jets have probably hit the bottom of the cycle,
but a steady recovery in that segment has yet to become evident
and is not expected imminently. Bell benefits from the ongoing
conflicts in Afghanistan and Iraq, while profits in the Industrial
segment are driven mostly by the increasing demand for automotive
products. These collective results partially offset the weakness
at Cessna.

The stable rating outlook reflects adequate liquidity to meet
near-term obligations and expectations of ongoing success in
liquidating TFC's non-captive assets, and steady financial
performance by Textron's manufacturing units. A positive rating
action is unlikely for some time, at the earliest when TFC has
substantially completed its liquidation plan, the business jet
market improves to produce a solid pace of new orders and a
building backlog takes shape. Maintaining a sizeable commercial
finance company could limit upward movement in the rating, due to
the need to maintain access to external sources of capital to fund
the finance company. Textron's progress towards a permanent
capital structure appropriate for its manufacturing operations
would be an important consideration, as well. Then, predictable
free cash flow producing sustained debt-to-EBITDA at Textron
manufacturing alone at less than 3x and retained cash flow-to-debt
solidly greater than 20% could prove favorable to the rating or
rating outlook. The rating could be lowered if the free cash flow
of Textron's manufacturing operation is expected to fall below
$300 million for any 12 month forward period, or if Cessna
generates an operating loss, particularly if the operating profits
at Bell and in the Industrial division weaken materially from
levels achieved in 2010. The rating could also be lowered if
Textron does not maintain a cash cushion above $500 million and at
least sufficient to cover more than the next two quarters of
scheduled debt maturities for both TFC and Textron.

The principal methodology used in rating Textron was Moody's
Global Aerospace and Defense Industry Methodology published June
2010.


TOPSPIN MEDICAL: Posts NIS687,000 Net Loss in Second Quarter
------------------------------------------------------------
Topspin Medical, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of NIS687,000 for the three months ended
June 30, 2011, compared with a net loss of NIS714,000 for the same
period last year.

For the six months ended June 30, 2011, the Company had a net loss
of NIS1.4 million, compared to a net loss of NIS1.5 million for
the corresponding period last year.

The Company has not recorded any revenues from operations since
the time of its inception in September 1999.

The Company's balance sheet at June 30, 2011, showed
NIS9.6 million in total assets, NIS3.1 million in total
liabilities, all current, and stockholders equity of $6.5 million

In October 2008, the Company suspended its activities.  Since the
suspension of the Company's operational activity in October 2008
and as of the date of these unaudited consolidated financial
statements, the Company is not engaged in any operational
activity.  Additionally, in January 2010, Company's management
decided to suspend the support in protection of its intellectual
property (registered patents and patent applications).

The Company has not generated any revenues and has not achieved
profitable operations or positive cash flows from operations.  The
Company has an accumulated deficit of NIS185.8 million as of
June 30, 2011, and it incurred a net loss of NIS1.4 million and
negative cash flows from operating activities in the amount of
NIS252,000 for the six months ended June 30, 2011.

"There is uncertainty about the Company's ability to generate
revenues or raise sufficient funds in the near term, if any," the
Company said in the filing.  "These factors, among other factors
raise substantial doubt about the Company's ability to continue as
a going concern."

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

                       http://is.gd/LNuuwy

Topspin Medical, Inc., was incorporated in Delaware on Sept, 20,
1999.  The Company has conducted all of its business operations
through its wholly owned Israeli subsidiary, TopSpin Medical
(Israel) Ltd.  TopSpin Israel was incorporated on Oct. 5, 1999, to
engage in research and development of MRI technology using
miniaturized MRI sensors.

Until the Company suspended its activities due to financial
considerations in October 2008, it was engaged through TopSpin
Israel in the design, research, development and manufacture of
imaging devices that utilize MRI technology by means of miniature
probes for various body organs.

On July 12, 2010, in accordance with the Loan Agreement with
Medgenesis Partners Ltd., pursuant to which Medgenesis agreed to
loan the Company a total of US$353,804, the Company filed a
voluntary petition for relief under Chapter 11 with the U.S.
Bankruptcy Court for the District of Delaware (Case No. 10-12213).
As part of the Plan that the Company submitted to the Bankruptcy
Court, the Company requested that the Bankruptcy Court approve an
increase in its registered capital, a reverse split of the
Company's reorganized Common Stock and the conversion of the
outstanding Funds into Company's shares of Common Stock.

The Bankruptcy Court confirmed the Debtor's Plan on Dec. 20, 2010.

Pursuant to the plan prepared by the Company and approved by the
Bankruptcy Court, the Company has issued 10,122,463 shares of
Common Stock to Medgenesis as repayment of a debt of US$484,000.


TOWNSEND CORP: Mulls Options, Including Sale; Seeks Cash Use
------------------------------------------------------------
Townsend Corporation, d/b/a Land Rover Jaguar Anaheim Hills, and
LRJC, Inc., d/b/a Land Rover Jaguar Cerritos, seek Bankruptcy
Court permission to immediately use cash collateral so that they
can maintain operations and going concern value while they attempt
to effectuate a sale of substantially all of their assets or a
reorganization.  Cash collateral consists of revenues generated
from the sale of vehicles, services, and equipment.

The Debtors said they hope to be able to negotiate a cash
collateral stipulation and a postpetition financing arrangement
with BMW Financial Services, the primary secured creditor, that
will enable the Debtors sufficient time to (1) consummate a sale
of substantially all of the Debtors' assets, (2) obtain a new
flooring lender, or (3) confirm a plan or plans of reorganization.

"In the meantime, the Debtors seek authority to use Cash
Collateral on an interim basis pending a final hearing, as it is
imperative that the Debtors immediately be allowed to use Cash
Collateral," the Debtors said in court papers.

The Debtors said they may be forced to immediately close shop if
they can't use Cash Collateral.

The Debtors said BMW FS, on a global basis, has an equity cushion
of 129%.  BMW FS assert a claim for $12,004,406 -- $7,170,011 owed
by LRJ Anaheim and $4,834,395 owed by LRJ Cerritos.  The BMW FS
Claim is allegedly cross-guarantied and secured by a first
priority lien on substantially all of the Debtors' assets,
including the Cash Collateral.

As of August 31, 2011, the value of LRJ Anaheim's Assets was
$12,875,723 and the value of LRJ Cerritos' Assets was $14,655,559.
The total value of the Debtors' Assets was $27,531,282.

                    About Townsend Corp. and LRJC

Auto dealers Townsend Corporation, d/b/a Land Rover Jaguar Anaheim
Hills, and LRJC, Inc., d/b/a Land Rover Jaguar Cerritos, filed for
Chapter 11 bankruptcy (Bankr. C.D. Calif. Case Nos. 11-22690 and
11-22695) on Sept. 9, 2011.  Judge Robert N. Kwan presides over
the cases.  Martin J. Brill, Esq., and Todd M. Arnold, Esq., at
Levene, Neale, Bender, Rankin & Brill LLP, represent the Debtors.
Each of the Debtors estimated $10 million to $50 million in both
assets and debts.  The petitions were signed by Ernest W.
Townsend, IV, the president.


TOWNSENDS INC: Court to Rule on Conversion Plea
-----------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware scheduled a
hearing to consider TW Liquidation Corp. f/k/a Townsends, Inc. and
its debtor affiliates' motion to convert cases from Chapter 11 to
Chapter 7 of the Bankruptcy Code for Sept. 14, 2011 at 11:00 a.m.

Section 1112(a) of the Bankruptcy Code provides that a debtor may
convert a Chapter 11 case to a case under Chapter 7 at any time as
of right.  Section 1112(a) specifically states that the debtor may
convert a case under this Chapter 11 to one under Chapter 7 of
this title unless -- (1) the debtor is not a debtor in possession;
(2) the case originally was commenced as an involuntary case under
this chapter; or (3) the case was converted to a case under this
chapter other than on the debtor's request.

Chad A. Fights, Esq., at Morris, Nichols, Arsht & Tunnell LLP, in
Wilmington, Delaware -- cfights@mnat.com -- argues that none of
the exceptions enumerated in Section 1112(a) apply in the Debtors'
Chapter 11 cases.  Here, the Debtors are debtors-in-possession
under Sections 1107 and 1108 of the Bankruptcy Code, these cases
were voluntary Chapter 11 filings, and these cases were not
converted to Chapter 11 from another chapter of the Bankruptcy
Code, he asserts.

More importantly, the Debtors believe that a request for
conversion is the appropriate action at this time, Mr. Fights
insists.  After the distribution of the proceeds from the sale of
substantially all of the Debtors' assets to PECO Foods, Inc. and
Omtron, Ltd. and the Claims Fund under Section 503(b)(9) of the
Bankruptcy Code, the Debtors lack sufficient assets or continued
funding to make pursuit of a liquidating plan an appropriate
exercise, he states.  Should the case not convert, the Debtors may
become unable to continue to pay administrative expenses as they
come due, he emphasizes.  He stresses that engaging in a
liquidating plan process will unnecessarily deplete the Debtors'
remaining assets and would be unlikely to provide a meaningful
return to unsecured creditors.

In contrast, the interests of Debtors' estates will best be served
by conversion of these cases to cases under Chapter 7 of the
Bankruptcy Code, Mr. Fights points out.  By converting the cases,
the remaining assets of the estates can be efficiently and
effectively liquidated by a Chapter 7 trustee and distributed to
stakeholders, he assures the Court.

The Debtors further ask the Court to set a deadline for all
professionals retained in these cases under Section 327 of the
Bankruptcy Code to file their final fee applications or requests
for compensation on or before 30 days from the entry of an order
converting these Chapter 11 cases to Chapter 7 of the Bankruptcy
Code and set a hearing for final approval of these fee
applications at the Court's convenience.

                      About Townsends Inc.

Founded in 1891, Townsends Inc. is a third-generation, family-
owned poultry company.  Headquartered in Georgetown, Delaware,
Townsends operates production and processing facilities in
Arkansas and North Carolina.  Townsends Inc. -- fka Townsend
Specialty Foods -- and several affiliates filed for Chapter 11
bankruptcy protection (Bankr. D. Del. Lead Case No. 10-14092) on
Dec. 19, 2010.  As of Dec. 5, 2010, the Debtors disclosed
$131 million in total assets and $127 million in total debts.

Derek C. Abbott, Esq., at Morris Nichols Arsht & Tunnell, serves
as the Debtors' bankruptcy counsel.  McKenna Long & Aldridge LLP
serves as special counsel.  Huron Consulting Group's Dalton T.
Edgecomb serves as the Debtors' chief restructuring officer.  SSG
Capital Advisors, LLC, serves as investment banker.  Donlin,
Recano & Company, Inc., is the Debtors' claims, noticing and
balloting agent.

An Official Committee of Unsecured Creditors has been appointed in
the case.  The Committee has tapped Lowenstein Sandler PC as its
counsel and J.H. Cohn LLP as its financial advisor.  No trustee or
examiner has been appointed in the Debtors' bankruptcy cases.

The Debtors sold virtually all of their assets in two Asset Sale
transactions which closed on Feb. 25, 2011.  The purchasers were
Omtron, Ltd., and Peco Foods, Inc.


TRAVELPORT INC: Bank Debt Trades at 10% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Travelport, Inc.,
is a borrower traded in the secondary market at 90.25 cents-on-
the-dollar during the week ended Friday, Sept. 16, 2011, a drop of
1.17 percentage points from the previous week according to data
compiled by Loan Pricing Corp. and reported in The Wall Street
Journal.  The Company pays 450 basis points above LIBOR to borrow
under the facility.  The bank loan matures on Aug. 23, 2015.  The
loan is one of the biggest gainers and losers among 104 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

Travelport, Inc., -- http://www.travelport.com/--  a travel
company, offers broad-based business services to companies in
travel industry.  The company operates a network of travel brands
and content, and provides travel technologies, solutions, and
services.  It also offers online travel distribution systems and
services that enable travel suppliers, travel agencies, Web sites,
and corporations to provide travel products and services to
travelers; ground travel products and services, and global travel
content; Web-based solutions and services for airlines, airports,
travel agencies and travel-related companies; market planning,
analysis, sales intelligence, and network planning services; and
technical and application solutions, such as passenger management,
E-commerce toolkit, and E-ticketing solutions for airlines.  The
company is based in Parsippany, New Jersey.  Travelport, Inc.,
operates as a subsidiary of Travelport Limited.


TRAVELPORT LLC: S&P Lowers Corporate Credit Rating to 'CCC'
-----------------------------------------------------------
Standard and Poor's Ratings Services lowered its long-term
corporate credit ratings on travel services provider Travelport
Holdings Limited and its operating subsidiary Travelport LLC
(Travelport) to 'CCC' from 'B-' and placed them on CreditWatch
with negative implications.

"At the same time, we lowered the long-term rating on Travelport's
senior secured debt to 'CCC+' from 'B'. The recovery rating on the
senior secured debt remains unchanged at '2'. In addition, we
lowered the long-term ratings on Travelport's senior unsecured
debt to 'CCC-' from 'CCC+', and on the various subordinated debt
instruments to 'CC' from 'CCC', with recovery ratings of '5' and
'6' remaining unchanged," S&P related.

"The rating actions primarily reflect our view that Travelport is
facing increased liquidity risk as a result of the upcoming
maturity of its $693 million (as of end-June 2011) payment-in-kind
(PIK) loan at Travelport Holdings, due in March 2012. We do not
currently believe that the company will be able to secure
sufficient cash resources either from operations or disposals to
repay these notes, and will therefore need to find a refinancing
solution. In our opinion, this may be difficult given Travelport's
highly leveraged capital structure, partially pledged asset base,
and currently weak debt capital markets. Therefore, we believe
that there is an increased risk that the company will not be able
to honor its initial promise to repay the PIK loan by March 2012,"
S&P related.

"We also note that, under our forecasts, the convenant on
Travelport's bank facility will remain tight in the foreseeable
future, heightened by the loss of its hosting contract for the
United Airlines website. We anticipate that this will affect the
company's EBITDA from 2012," S&P said.

"In our opinion, Travelport's high level of debt (and related
interest payments) currently limits any material improvement to
its highly leveraged financial risk profile over the near term.
The high debt burden also makes it unlikely that the company would
be able to access further funding at this stage," S&P stated.

"We aim to resolve the CreditWatch placement within the next three
months, after receiving information regarding Travelport's plans
to refinance the maturing PIK loan. We will discuss these plans
with management, and subsequently assess how these may affect the
ratings," S&P related.

"We will likely lower the ratings if Travelport cannot produce a
credible refinancing plan within the next three months, as this
would raise further questions about the company's ability to
refinance the PIK loan," S&P added.


TRENTON LAND: Wants Bankruptcy Court to Dismiss Chapter 11 Case
---------------------------------------------------------------
Trenton Land Holdings, LLC, asks the U.S. Bankruptcy Court for the
Eastern District of Michigan to dismiss its Chapter 11 case.  In
light of the absence of cash available to the Debtor, any fees of
the Debtor's counsel will be paid by non-debtor "insiders."

Karin F. Avery, Esq., at Silverman & Morris, P.L.L.C., tells the
Court that the assets of the Debtor consist of approximately 195
acres located in Trenton, Mich., which may be environmentally
contaminated.

Ms. Avery states that the bankruptcy petition was filed in part to
prevent the forfeiture of the Property to Wayne County, Mich., on
account of unpaid real estate taxes.

Ms. Avery notes that the Debtor has not had its own cash flow.
Essential operating expenses and payments to the Wayne County
Treasurer have been paid directly by the "insiders" of the Debtor.

Ms. Avery believes that cause exists for dismissal of this case
because:

    (a) The Debtor has reached an agreement with the Wayne County
        Treasurer for payment on account of real estate tax
        arrearages and dismissal of this case;

    (b) The Debtor may not presently be able to formulate a plan
        that would deal with all existing claims;

    (c) Conversion of this case to Chapter 7 would inevitably lead
        to abandonment of the Property by the Chapter 7 trustee
        and potential exposure of the Chapter 7 Trustee with
        respect to environmental liability.  It would also likely
        lead to additional contamination of the Property, due to
        the inability of a Chapter 7 Trustee to maintain the
        wastewater treatment currently being provided by the
        Debtor and its "insiders";

    (d) Conversion of the case to a Chapter 7 is likely to lead to
        forfeiture and foreclosure of the Property by Wayne
        County, thus causing Wayne County to take title to
        contaminated property; and

    (e) Failure to dismiss the case will result in the Debtor
        remaining in Chapter 11 for a protracted period of time,
        unnecessarily incurring administrative expenses.

Trenton, Michigan-based Trenton Land Holdings, LLC, filed for
Chapter 11 bankruptcy protection (Bankr. E.D. Mich. Case No. 10-
60990) on June 29, 2010.  Karin F. Avery, Esq., at Silverman &
Morris, P.L.L.C., assists the Debtor in its restructuring effort.
The Company disclosed $16,726,075 in assets and $65,925,596 in
liabilities.


TRIBUNE CO: Bank Debt Trades at 42% Off in Secondary Market
-----------------------------------------------------------
Participations in a syndicated loan under which Tribune Co. is a
borrower traded in the secondary market at 57.71 cents-on-the-
dollar during the week ended Friday, Sept. 16, 2011, a drop of
0.66 percentage points from the previous week according to data
compiled by Loan Pricing Corp. and reported in The Wall Street
Journal.  The Company pays 300 basis points above LIBOR to borrow
under the facility.  The bank loan matures on May 17, 2014.
Moody's has withdrawn its rating on the loan.  The loan is one of
the biggest gainers and losers among 104 widely quoted syndicated
loans with five or more bids in secondary trading for the week
ended Friday.

                        About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection (Bankr. D. Del. Lead Case No. 08-13141) on Dec. 8,
2008.  The Debtors proposed Sidley Austin LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North America LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.  Chadbourne & Parke LLP and
Landis Rath LLP serve as co-counsel to the Official Committee of
Unsecured Creditors.  AlixPartners LLP is the Committee's
financial advisor.  Landis Rath Moelis & Company serves as the
Committee's investment banker.  Thomas G. Macauley, Esq., at
Zuckerman Spaeder LLP, in Wilmington, Delaware, represents the
Committee in connection with the lawsuit filed against former
officers and shareholders for the 2007 LBO of Tribune.

Bankruptcy Creditors' Service, Inc., publishes Tribune Bankruptcy
News.  The newsletter tracks the chapter 11 proceeding undertaken
by Tribune Company and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


TROY BUILDERS: Case Summary & 2 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Troy Builders Investment Trust
        18850 Ventura Boulevard, # 130
        Tarzana, CA 91356

Bankruptcy Case No.: 11-20917

Chapter 11 Petition Date: September 14, 2011

Court: U.S. Bankruptcy Court
       Central District of California (San Fernando Valley)

Judge: Victoria S. Kaufman

Debtor's Counsel: Alfred J. Verdi, Esq.
                  VERDI LAW GROUP PC
                  2829 N. Glenoaks Boulevard, Suite 206
                  Burbank, CA 91504
                  Tel: (818) 845-3100
                  Fax: (818) 845-3101
                  E-mail: verdilawgroup@gmail.com

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

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

A list of the Company's two largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/cacb11-20917.pdf

The petition was signed by Adrian Van Rijs, trustee.


TRUMAN LANDSCAPER: Involuntary Chapter 11 Case Summary
------------------------------------------------------
Alleged Debtor: The Trumann Landscaper Inc.
                P.O. Box 242
                Lookout Mountain, TN 37350

Case Number: 11-15051

Type of Business: Real Estate and other operations

Involuntary Chapter 11 Petition Date: September 13, 2011

Court: Eastern District of Tennessee (Chattanooga)

Judge: John C. Cook

Trumann Landscaper's petitioner:

Petitioner               Nature of Claim        Claim Amount
----------               ---------------        ------------
Leslie D Coffey          Loan/Trade debt        $15,560
P.O. Box 242
Lookout Mtn., TN 37350


TURBULENCE, LLC: Case Summary & Largest Unsecured Creditor
----------------------------------------------------------
Debtor: Turbulence, LLC
        1427 Grant Avenue
        P.O. Box 330220
        San Francisco, CA 94133

Bankruptcy Case No.: 11-33378

Chapter 11 Petition Date: September 14, 2011

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

Judge: Thomas E. Carlson

Debtor's Counsel: Joel K. Belway, Esq.
                  LAW OFFICES OF JOEL K. BELWAY
                  235 Montgomery Street, #668
                  San Francisco, CA 94104
                  Tel: (415) 788-1702
                  E-mail: belwaypc@pacbell.net

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

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

The petition was signed by WB Coyle, manager.

The list of unsecured creditors filed together with its petition
contains only one entry:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Yvette Tom                         --                       $5,800
2195 Beach Street, #303
San Francisco, CA 94123


TXU CORP: Bank Debt Trades at 28% Off in Secondary Market
---------------------------------------------------------
Participations in a syndicated loan under which TXU Corp., now
known as Energy Future Holdings Corp., is a borrower traded in the
secondary market at 72.45 cents-on-the-dollar during the week
ended Friday, Sept. 16, 2011, a drop of 0.61 percentage points
from the previous week according to data compiled by Loan Pricing
Corp. and reported in The Wall Street Journal.  The Company pays
450 basis points above LIBOR to borrow under the facility.  The
bank loan matures on Oct. 10, 2017, and carries Moody's B2 rating
and Standard & Poor's CCC rating.  The loan is one of the biggest
gainers and losers among 104 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.

                       About Energy Future

Energy Future Holdings Corp., formerly known as TXU Corp., is a
privately held diversified energy holding company with a portfolio
of competitive and regulated energy businesses in Texas.  Oncor,
an 80%-owned entity within the EFH group, is the largest regulated
transmission and distribution utility in Texas.  The Company
delivers electricity to roughly three million delivery points in
and around Dallas-Fort Worth.

EFH Corp. was created in October 2007 in a $45 billion leveraged
buyout of Texas power company TXU in a deal led by private-equity
companies Kohlberg Kravis Roberts & Co. and TPG Inc.

The Company's consolidated balance sheets at Dec. 31, 2010, showed
$46.388 billion in total assets, $52.299 billion in total
liabilities, and a stockholders' deficit of $5.911 billion.

                          *     *     *

In April 2011, Moody's Investors Service affirmed the 'Caa2'
Corporate Family Rating, 'Caa3' Probability of Default Rating and
SGL-4 Speculative Grade Liquidity Ratings of EFH.  Outlook is
stable.  EFH's Caa2 CFR and Caa3 PDR reflect a financially
distressed company with limited financial flexibility; its capital
structure appears to be untenable, calling into question the
sustainability of the business model; and there is no expectation
for any meaningful debt reduction over the next few years, beyond
scheduled amortizations.

At the end of February 2011, Fitch Ratings it does not expect to
take any immediate rating action on EFH's Texas Competitive
Electric Holdings Company LLC or their affiliates based on recent
default allegations from lender Aurelius.  EFH carries a 'CCC'
corporate rating, with negative outlook, from Fitch.


UNI-PIXEL INC: To Offer 1.3MM Common Shares Under Incentive Plan
----------------------------------------------------------------
Uni-Pixel, Inc., filed with the U.S. Securities and Exchange
Commission a Form S-8 registration statement registering 1.3
million common shares to be offered under the Uni-Pixel, Inc.,
2011 Stock Incentive Plan.  A full-text copy of the prospectus is
available for free at http://is.gd/mFsyh9

                        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.


U.S. EAGLE: Proposes Grubb & Ellis as Real Estate Broker
--------------------------------------------------------
U.S. Eagle Corporation asks the U.S. Bankruptcy Court for the
District of New Jersey permission to employ Grubb & Ellis Company
as its real estate broker.

Upon retention, the firm, among others will:

   (a) take the necessary steps to list and market the Debtor's
       "Riverside properties" in a manner to maximize the value
       thereof;

   (b) facilitate the dissemination of information to interested
       parties with respect to the Riverside Properties;

   (c) assist the Debtors with the sale process, and

   (d) take any other acts to prepare for, conduct and effectuate
       the sale of the  Riverside Properties and to ensure the
       highest possible price(s) and/or best offer(s) for the
       Riverside Properties.

Subject to this Court's approval and in accordance with sections
330 and 331 of the Bankruptcy Code, the Federal Rules of
Bankruptcy Procedure, as may be applicable, the rules of this
Court, and such other procedures as may be fixed by order of this
Court, the Debtors requests that Grubb & Ellis be compensated on a
percentage fee basis in accordance with the terms of the
Agreement.

                       About U.S. Eagle

U.S. Eagle filed for Chapter 11 protection (Bankr. D. N.J. Case
No. 11-10392) on Jan. 6, 2011.  Samuel Jason Teele, Esq., at
Lowenstein Sandler PC, serves as the Debtor's bankruptcy counsel.
The Debtor estimated its assets and debts at $10 million to
$50 million.

Affiliates U.S. Eagle Litho, Inc. (Bankr. D. N.J. Case No. 11-
10401), Eagle One Golf Products, Inc. (Bankr. D. N.J. Case No. 11-
10397), Julius Realty Corporation (Bankr. D. N.J. Case No. 11-
10393), Traffic Control Service, Inc., An Arizona Corporation
(Bankr. D. N.J. Case No. 11-10398), Traffic Control Service, Inc.,
A California Corporation (Bankr. D. N.J. Case No. 11-10403), and
Traffic Control Service, Inc., A Nevada Corporation (Bankr. D.
N.J. Case No. 11-10392) filed separate Chapter 11 petitions on
Jan. 6, 2011.

Three Twenty One Capital Partners, LLC serves as exclusive agent
for the Debtors.

On Feb. 22, 2011, the U.S. Trustee appointed an Official Committee
of Unsecured Creditors.  Porzio, Bromberg & Newman, P.C.,
represents the Committee.

No trustee or examiner has been requested or appointed in the
Chapter 11 cases.


VISUALANT INC: Extends Closing Date of Eagle LOI to Dec. 31
-----------------------------------------------------------
Visualant, Incorporated, on June 27, 2011, signed a new Letter of
Intent to Eagle Technologies USA of Brea, California.

On Sept. 15, 2011, the Company announced that it had signed an
amendment to the Letter of Intent, extending the closing date to
Dec. 31, 2011.

Eagle, founded by card industry leaders Greg and Ryan Hawkins and
Jeff Fulmer in 2008, has rapidly emerged as the premier provider
of blank PVC and polyester composite cards to the identification
market.  Eagle will provide an immediate additional $1 million in
annual revenue to Visualant and is projected to grow to $3 to $4
million in revenues over the next two years as Eagle increases the
range and technical sophistication of its product line.

A full-text copy of the Amended Letter of Intent is available for
free at http://is.gd/lE09qq

                        About Visualant Inc.

Seattle, Wash.-based Visualant, Inc., was incorporated under the
laws of the State of Nevada on October 8, 1998.  The Company
develops low-cost, high speed, light-based security and quality
control solutions for use in homeland security, anti-
counterfeiting, forgery/fraud prevention, brand protection and
process control applications.

As reported in the Troubled Company Reporter on Jan. 4, 2011,
Madsen & Associates CPA's, Inc., Salt Lake City, expressed
substantial doubt about Visualant, Inc.'s ability to continue as a
going concern, following the Company's results for the fiscal year
ended September 30, 2010.  The independent auditors noted that the
Company will need additional working capital for its planned
activity and to service its debt.

The Company's balance sheet at June 30, 2011, showed $4.70 million
in total assets, $5.96 million in total liabilities, $39,072 in
noncontrolling interest and a $1.29 million total stockholders'
deficit.


WASHINGTON MUTUAL: Interest Rate Ruling May Impact Other Cases
--------------------------------------------------------------
Peg Brickley of Dow Jones' Daily Bankruptcy Review writes on the
possible impact of Judge Mary Walrath's recent decision denying
confirmation of Washington Mutual Inc.'s plan.

Ms. Brickley notes that in rejecting the company's Chapter 11
plan, Judge Walrath yanked the rug out from under bondholders who
thought they had cut a straight-up deal with the company to get
the contract rate of interest on billions in debt.  Instead, Judge
Walrath found the federal judgment rate of interest should apply
in the case.

Ms. Brickley relates that according to Kevin Starke, an analyst
with CRT Capital Group, which makes a market in Washington Mutual
securities, the ruling means holders of a class of debt called
PIERS might have to kick back something to holders of top-ranking
debt.

Ms. Brickley says there's likely not much of a financial incentive
for the big money in the case to appeal Judge Walrath's decision.
Many big players own both PIERS and top debt, so they'll just be
moving cash from one pocket to another.

But, according to Ms. Brickley, investors in other cases where
there's a whole lot of cash to be handed out -- specifically the
case of Nortel Networks Corp. -- had better read Judge Walrath's
ruling carefully.

Ms. Brickley relates Nortel investors are hoping to deal their way
into a better-than-100% recovery.  How much better may depend on
whether Nortel gives the bondholders a contract rate of interest
or the federal judgment rate, which is usually much smaller, the
report says.  What the bondholders don't get could go to folks
like Nortel's retirees and disabled workers, many of whom are
being left empty handed.

                       About Nortel Networks

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

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

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

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

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

Nortel Networks divested off key assets while in Chapter 11.
Nortel has raised $3.2 billion by selling its operations as it
prepares to wind up a two-year liquidation due to insolvency.

In June 2011, Nortel added US$4.5 billion to its cash pile after
agreeing to sell its remaining patent portfolio to Rockstar Bidco,
LP, a consortium consisting of Apple Inc., EMC Corporation,
Telefonaktiebolaget LM Ericsson, Microsoft Corp., Research In
Motion Limited, and Sony Corporation.  The consortium defeated a
$900 million stalking horse bid by Google Inc. at an auction.  The
deal closed in July.

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

                    About Washington Mutual

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

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

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

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

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

WaMu filed a Modified Sixth Amended Joint Plan and a related
Supplemental Disclosure Statement, which it believes would address
the Bankruptcy Court's concerns.

On Sept. 13, 2011, Judge Walrath denied confirmation of WaMu's
Modified Sixth Amended Plan and granted equity committee standing
to prosecute claims for equitable disallowance but stayed the
ruling pending mediation.

Judge Walrath scheduled a status hearing for Oct. 7, 2011, at
11:30 a.m. to consider the issues to be referred to a mediator.

WaMu said it would seek confirmation of a revised plan "as soon as
practicable."

The Plan proposes to pay more than $7 billion to creditors and
incorporates a global settlement agreement resolving issues among
the Debtors, JPMorgan Chase, the Federal Deposit Insurance Corp.
in its corporate capacity and as receiver for WaMu Bank, certain
large creditors, certain WMB senior noteholders, and the
creditors' committee.  The Settlement Noteholders are Appaloosa
Management, L.P., Aurelius Capital Management LP, Centerbridge
Partners, LP, and Owl Creek Asset Management, L.P.


WATER STREET: To Sell Mansfield Property to Pay Creditors in Full
-----------------------------------------------------------------
Water Street Development Partners, L.P., filed with the U.S.
Bankruptcy Court for the Northern District of Texas, Fort Worth
Division, a first amended plan of reorganization and an
accompanying disclosure statement, which provides for the sale of
a real property located in Mansfield, Texas, to pay creditors in
full.

The Debtor believes that through the Amended Plan, filed Sept. 12,
2011, creditors will obtain a substantially greater recovery from
the Estate than they would receive if the Debtor's assets were
liquidated under Chapter 7 of the Bankruptcy Code.

The Debtor holds an exercised but as yet unperformed option to
acquire the one-half undivided interest in the 81 acres of
unimproved real property located at 1200 East Broad Street, in
Mansfield, Texas, that it does not already own.  This interest is
currently owned 25% by Richard Bontke and 25% by Richard's son,
Nathan Bontke.  The exercise of this Option will cause the Bontkes
to be released from each of their guarantees to Wells Fargo
Commercial Loan Services on its loan secured by the Mansfield
Property, and, as a result thereof, gaining a return to the
Bontkes of a cash deposit pledged against the loan.

To accomplish the requirements running in favor of the Bontkes,
and thereby, trigger the Bontke obligation, simultaneous with
release of guarantees and return of cash collateral, to convey the
undivided one-half (in total) of the Mansfield Property which they
own to the Debtor, the Debtor will seek to sell the Mansfield
Property and use the proceeds to pay all creditors in full.

The Plan provides for this classification and treatment of claims:

   * Class 1 (Secured Tax Claims).  This Class is unimpaired by
     the Plan, does not vote, and is deemed to accept the Plan.
     Class 1 consists of all allowed claims for real and personal
     property taxes secured by Property of the Estate.

   * Class 2 (Priority Tax Claims).  This Class is impaired by the
     Plan.  The holders of Allowed Class 2 claims are entitled to
     vote to accept or reject the Plan.  Class 2 consists of all
     allowed priority tax claims.

   * Class 3 (Secured Bank Claim).  This Class is impaired by the
     Plan.  The holders of Allowed Class 3 claims are entitled to
     vote to accept or reject the Plan.  The Mansfield Property is
     encumbered by a first and paramount deed of trust lien in
     favor of Wachovia Bank, a division of Wells Fargo.  The Plan
     proposed to pay and fully discharge the Wells Fargo lien,
     which is in the approximate present amount of $7,873,985.

   * Class 4 (General Unsecured Claims).  This Class is impaired
     by the Plan.  The holders of Allowed Class 4 claims are
     entitled to vote to accept or reject the Plan.

   * Class 5 (Equity Interests).  This Class is impaired by the
     Plan.  The holders of Allowed Equity Interests are entitled
     to vote to accept or reject the Plan.

The Reorganized Debtor will continue in existence after the
Effective Date as a limited partnership in accordance with the
laws of Texas in order to carry out its obligations under the
Plan.  In the future, the Reorganized Debtor may also acquire
other businesses or property.

The Debtor has reached agreement with Arcadia Realty Corp., a
Texas corporation, whereby Aracadia will purchase the Mansfield
Property when the Mansfield Property has been appropriately re-
zoned.  The Debtor relates that the process of re-zoning is
underway and should be complete by November 1, 2011, although some
delay may occur.  The Arcadia Contract calls for repayment to the
Bontkes of monthly interest payments previously made by the
Bontkes to Wells Fargo and direct payment by Arcadia of monthly
payments after the Debtor is authorized to enter the contract with
Arcadia.  If Arcadia manifests its then present ability to perform
under its the Arcadia Contract, with the result that Wells Fargo
will be paid in full, and the Bontkes will receive the return of
their escrowed cash collateral, the Debtor will seek an order, if
necessary, requiring the Bontkes to perform under the Option
Agreement.

If Arcadia cannot achieve satisfactory re-zoning it may, but is
not required to, terminate the Arcadia Contract, the Debtor tells
the Court.  If Arcadia fails to gain appropriate re-zoning and
terminates, and if no other purchaser is found, the Bontkes may
then purchase the interest of the Debtor in the Real Property.

Water Street Management, LLC, General Partner of the Debtor, will
continue to manage the Reorganized Debtor.

A full-text copy of the First Amended Disclosure Statement is
available for free at http://ResearchArchives.com/t/s?76f2

              About Water Street Development Partners

Southlake, Texas-based Water Street Development Partners, L.P.,
filed for Chapter 11 bankruptcy (Bankr. N.D. Tex. Case No. 11-
42841) on May 13, 2011.  Judge Russell F. Nelms presides over the
case.  The Law Office of Mark B. French serves as the Debtor's
bankruptcy counsel.

Robert DeRogatis is a limited partner of the Debtor and holds a
99% equity interest.  Water Street Management LLC holds the other
1% stake.


WEST END: Hearing on Adequacy of Plan Outline Scheduled for Nov. 1
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
will convene a hearing on Nov. 1, 2011, at 10:00 a.m., to consider
adequacy of the Disclosure Statement explaining West End Financial
Advisors LLC, et al.'s Chapter 11 Plan dated Aug. 31, 2011.

As reported in the Troubled Company Reporter on Sept. 15, 2011,
there are three secured creditors with claims aggregating about
$13 million.  West End believes that the security interest for a
$5 million claim is invalid, according to the disclosure
statement.

The TCR report that there are $13 million in general unsecured
creditor claims and $67 million in unsecured investor claims.  The
investors' claims will be treated as claims rather than equity and
share pro rata with general creditors.

Under the plan, valid secured claims will be paid with five-year,
interest-bearing secured notes.  The notes can be paid before
maturity.  One secured claim, for $1.7 million, will be paid in
full if the lender receives $1 million by March.

                     About West End Financial

West End Financial Advisors LLC, Sentinel Investment Management
Corp. and a number of affiliates sought Chapter 11 protection
(Bankr. S.D.N.Y. Lead Case No. 11-11152) in Manhattan on March 15,
2011.  New York-based West End estimated its assets and debts at
$1 million to $10 million.  Arnold Mitchell Greene, Esq., at
Robinson Brog Leinwand Greene Genovese & Gluck, P.C., serves as
the Debtors' bankruptcy counsel.

William Landberg created WEFA in 2000 as an investment and
financial management company. Subsequently he purchased Sentinel
Investment Management Corp., a boutique investment advisory
company.  Sentinel and WEFA targeted individual private clients
for investments in fixed income funds and alternative investment
products.  Mr. Landberg's ultimately resigned from all West End
related entities effective June 2, 2009, following a probe on
misappropriation of funds.

Schedules of assets and liabilities for West End and its
funds showed assets of $400,000 and debt of $6.7 million, not
including $66 million from investors who may or may not be
considered creditors.  Debt includes $5.5 million in secured
claims, according to the schedules.

Secured creditors with the largest claims are DZ Bank ($118.1
million), West LB ($41 million), Iberia Bank ($11.3 million), and
Suffolk County National Bank ($8.3 million).


WEST END: Court OKs Mark Radke as Independent Monitor
-----------------------------------------------------
West End Financial Advisors LLC sought and obtained permission
from the U.S. bankruptcy Court for the Southern District of New
York to employ Mark Radke as independent monitor.

                  About West End Financial

West End Financial Advisors LLC, Sentinel Investment Management
Corp. and a number of affiliates sought Chapter 11 protection
(Bankr. S.D.N.Y. Lead Case No. 11-11152) in Manhattan on March 15,
2011.  New York-based West End estimated its assets and debts at
$1 million to $10 million.  Arnold Mitchell Greene, Esq., at
Robinson Brog Leinwand Greene Genovese & Gluck, P.C., serves as
the Debtors' bankruptcy counsel.

William Landberg created WEFA in 2000 as an investment and
financial management company. Subsequently he purchased Sentinel
Investment Management Corp., a boutique investment advisory
company.  Sentinel and WEFA targeted individual private clients
for investments in fixed income funds and alternative investment
products.  Mr. Landberg's ultimately resigned from all West End
related entities effective June 2, 2009, following a probe on
misappropriation of funds.

Schedules of assets and liabilities for West End and its
funds showed assets of $400,000 and debt of $6.7 million, not
including $66 million from investors who may or may not be
considered creditors.  Debt includes $5.5 million in secured
claims, according to the schedules.

Secured creditors with the largest claims are DZ Bank ($118.1
million), West LB ($41 million), Iberia Bank ($11.3 million), and
Suffolk County National Bank ($8.3 million).


WESTERN COMMUNICATIONS: U.S. Trustee Unable to Form Committee
-------------------------------------------------------------
The United States 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 Western Communications,
Inc., have expressed interest in serving on a committee.  The U.S.
Trustee reserves the right to appoint such a committee should
interest developed among the creditors.

                  About Western Communications

Western Communications, Inc., is a family-owned corporation
founded by renowned editor Robert W. Chandler.  Headquartered in
Bend, Oregon, Western Communications is a small market newspaper,
niche publishing, printing and digital media company with
publications spread throughout Oregon (six publications) and
California (two publications).  The Company produces and publishes
the Bend Bulletin, the Baker City Herald, the La Grande Observer,
the Redmond Spokesman, the Brookings Curry Coastal Pilot, the
Crescent City Daily Triplicate, and the Sonora Union Democrat.
The Company also publishes the Central Oregon Nickel Ads in Bend,
Oregon.

Western Communications filed for Chapter 11 bankruptcy (Bankr.
Ore. Case No. 11-37319) on Aug. 23, 2011.  Albert N. Kennedy,
Esq., and Michael W. Fletcher, Esq., at Tonkon Torp LLP serve as
the Debtor's bankruptcy counsel.  The Zinser Law Firm, P.C., and
Davis Wright Tremaine LLP serve as the Debtor's special purpose
counsel.  The Debtor scheduled $10 million to $50 million in
assets and debts.  The petition was signed by Gordon Black,
president.


WIKILOAN INC: Delays Filing of Quarterly Report on Form 10-Q
------------------------------------------------------------
Wikiloan Inc. was unable, without unreasonable effort or expense,
to file its Quarterly Report on Form 10-Q for the period ended
July 31, 2011, by the Sept. 14, 2011, filing date applicable to
smaller reporting companies due to a delay experienced by the
Company in completing its financial statements and other
disclosures in the Quarterly Report.  As a result, the Company is
still in the process of compiling required information to complete
the Quarterly Report and its independent registered public
accounting firm requires additional time to complete its review of
the financial statements for the period ended July 31, 2011, to be
incorporated in the Quarterly Report.  The Company anticipates
that it will file the Quarterly Report no later than the fifth
calendar day following the prescribed filing date.

                         About WikiLoan Inc.

Los Angeles, Calif.-based WikiLoan, Inc. -- http://wikiloan.com/-
- is a Web site that provides tools for person-to-person borrowing
and lending.  People can use the tools on the website to borrow
and lend money ($500 to $25,000) among themselves at rates that
make sense to all parties.  WikiLoan provides management tools
that allow Borrowers and Lenders to manage the process by:
providing loan documentation, promissory notes, repayment
schedules, email reminders, online account access, and online
repayment.

The Company reported a net loss of $3.15 million on $635,184 of
revenue for the year ended Jan. 31, 2011, compared with a net loss
of $596,639 on $1,801 of revenue for the same period during the
prior year.

As reported by the TCR on May 20, 2011, PS Stephenson & Co., PC,
in Wharton, Texas, expressed substantial doubt about WikiLoan's
ability to continue as a going concern following the Company's
results for the fiscal year ended Jan. 31, 2011.  The independent
auditors noted that the Company has no revenue, significant assets
or cash flows.

The Company's balance sheet at April 30, 2011, showed $411,799 in
total assets, $1.39 million in total liabilities and a $980,206
total stockholders' deficit.


WOODLAND ESTATES: Case Summary & 3 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Woodland Estates of Kalamazoo, LLC
        dba Woodland Mobile Home Community
        dba Woodland Estates Manufactured Home Community
        32540 Schoolcraft Ste 110
        Livonia, MI 48150

Bankruptcy Case No.: 11-64267

Chapter 11 Petition Date: September 13, 2011

Court: United States Bankruptcy Court
       Eastern District of Michigan (Detroit)

Judge: Phillip J. Shefferly

Debtor's Counsel: Richard F. Fellrath, Esq.
                  LAW OFFICES OF RICHARD F. FELLRATH
                  4056 Middlebury Drive
                  Troy, MI 48085
                  Tel: (248) 519-5064
                  Fax: (248) 519-5065
                  E-mail: lawfell@wowway.com

Scheduled Assets: $3,020,724

Scheduled Debts: $3,596,819

A list of the Company's three largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/mieb11-64267.pdf

The petition was signed by Germano L. Mularoni.


YRC WORLDWIDE: Stockholders OK Agreement and Plan of Merger
-----------------------------------------------------------
YRC Worldwide Inc. held a special meeting of stockholders on
Sept. 16, 2011.  The Company's outstanding common stock, Series A
Voting Preferred Stock and Series B Convertible Preferred Stock
voted together as a single class on all proposals, with each share
of common stock and Series A Voting Preferred Stock entitled to
one vote and each share of Series B Convertible Preferred Stock
entitled to 42.6652 votes.  At the meeting, the Agreement and Plan
of Merger between the Company and its recently formed, wholly-
owned subsidiary, YRC Merger Sub, Inc., was approved.  The merger
will be effective upon the filing of the Certificate of Merger
with the Delaware Secretary of State.

The adjournment of the Special Meeting, if necessary, to solicit
additional proxies, if there were not sufficient votes at the time
of the special meeting to approve the Merger Agreement, was
approved.  The adjournment of the special meeting was not
necessary because there were sufficient votes at the time of the
special meeting to adopt the Merger Agreement.

Following stockholder approval of the Agreement and Plan of
Merger, the Company filed a Certificate of Merger with the
Delaware Secretary of State on Sept. 16, 2011, in connection with
which the Company's certificate of incorporation was amended and
restated.

Effective as of Sept. 16, 2011, the Company's amended and restated
certificate of incorporation increased the Company's authorized
capital stock to 10.005 billion shares of capital stock,
consisting of 5.0 million shares of preferred stock, par value
$1.00 per share, and 10.0 billion shares of common stock, par
value $0.01 per share.  Under the Company's prior certificate of
incorporation, the Company's authorized capital stock consisted of
85.0 million shares of capital stock, consisting of 5.0 million
shares of preferred stock, par value $1.00 per share, and 80.0
million shares of common stock, par value $0.01 per share.  Upon
the effectiveness of the New Charter, and pursuant to the
certificate of designations for the Company's Series B Convertible
Preferred Stock, par value $1.00 per share, the Series B Preferred
Stock will automatically convert into shares of the Company's
common stock at a rate equal to 372.6222 shares of common stock
for each share of Series B Preferred Stock, rounded down to the
nearest whole common share.

Under the New Charter, the Company elects not to be governed by
Section 203 of the Delaware General Corporation Law, in contrast
to the Company's Prior Charter.  Furthermore, the New Charter does
not require any "super-majority" approval of certain business
combination transactions.

Under the New Charter, members of the board of directors may be
removed from office at any time, with or without cause, by the
affirmative vote of holders of a majority of the voting power.
However, vacancies on the board of directors resulting from the
death, resignation, retirement, disqualification or removal of a
director appointed by the International Brotherhood of Teamsters
may be filled solely by the IBT as the holder of the one share of
the Company's Series A Voting Preferred Stock, par value $1.00 per
share.

Pursuant to the terms of the Merger Agreement, the Company's
bylaws were also amended and restated.  The Company's amended and
restated bylaws, effective as of Sept. 16, 2011, largely modify
certain provisions of the Company's prior Bylaws to conform to the
New Charter adopted in the Charter Amendment Merger.  Like the New
Charter, the New Bylaws provide that, among other things, special
meetings of the stockholders may be called by the secretary of the
Company, upon the written request of stockholders representing at
least 25% of the voting power if certain notice requirements are
met.  The New Bylaws provide that stockholders are entitled to
take action by written consent if the consent is signed by holders
of not less than the minimum voting power that would be necessary
to authorize or take the action at a stockholder meeting and if
the board of directors approves in advance of the taking of such
action.  The New Bylaws may be amended or repealed, or new bylaws
may be adopted, by the affirmative vote of a majority of the
voting power or by the affirmative vote of a majority of the whole
board of directors.

A full-text copy of the Amended and Restated Certificate of
Incorporation is available for free at http://is.gd/YwuAE7

A full-text copy of the Amended and Restated Bylaws is available
for free at http://is.gd/ICpXDU

                        About YRC Worldwide

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

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

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

                           *     *     *

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

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

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

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


YRC WORLDWIDE: Receives Add'l Non-Compliance Notice from NASDAQ
---------------------------------------------------------------
YRC Worldwide Inc., on Sept. 12, 2011, received an additional
staff determination letter from The NASDAQ Stock Market stating
that, based on the closing bid price of the Company's common stock
for the last 30 consecutive business days, a deficiency exists
with regard to NASDAQ Listing Rule 5450(a)(1), which requires a
minimum bid price of $1.00 per share.  Pursuant to NASDAQ's broad
discretionary authority under Listing Rule 5101, the staff
determination letter determined not to provide the Company with a
compliance period of 180 days generally provided under the Listing
Rules, and that, accordingly, this matter serves as an additional
basis for delisting the Company's common stock from NASDAQ.

As previously disclosed, on July 22, 2011, the Company received a
staff determination letter from NASDAQ stating that the Company's
common stock should be delisted because the Company issued Series
B Convertible Preferred Stock, 10% Series A Convertible Senior
Secured Notes due 2015, and 10% Series B Convertible Senior
Secured Notes due 2015 at the closing of the Company's exchange
offer and related restructuring transactions in violation of
NASDAQ Listing Rules 5635(b) and 5635(d) and because such issuance
raises public interest concerns under NASDAQ Listing Rule 5101.
The Company has appealed the staff's determination, including its
determination with respect to the closing bid price deficiency, to
a hearing panel pursuant to the procedures set forth in the NASDAQ
Listing Rule 5800 series.

                        About YRC Worldwide

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

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

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

                           *     *     *

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

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

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

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


ZOO ENTERTAINMENT: Posts $10.1 Million Net Loss in Second Quarter
-----------------------------------------------------------------
Zoo Entertainment, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $10.1 million on $3.7 million of revenue
for the three months ended June 30, 2011, compared with a net loss
of $965,000 on $9.8 million of revenue for the the same period
last year.  The Company's two largest distributors during the 2010
year, who combined represented 52% of the Company's sales for the
second quarter of 2010, did not purchase any product in the three
months ended June 30, 2011.

For the six months ended June 30, 2011, the Company had a net loss
of $15.7 million on $7.4 million of revenue, compared with a net
loss of $944,000 on $26.5 million of revenue for the same period
of 2010.  The Company's two largest distributors during the 2010
year, who combined represented 42% of the Company's sales for the
first six months of 2010, did not purchase any product in the six
months ended June 30, 2011.

The Company's balance sheet at June 30, 2011, showed $8.8 million
in total assets, $14.0 million in total liabilities, and a
stockholders' deficit of $5.2 million.

As reported in the TCR on Apr 26, 2011, EisnerAmper LLP, in
Edison, N.J., expressed substantial doubt about Zoo
Entertainment's ability to continue as a going concern, following
the Company's 2010 results.  The independent auditors noted that
the Company has both incurred losses and experienced net cash
outflows from operations since inception.

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

                       http://is.gd/PjAh7t

Cincinnati, Ohio-based Zoo Entertainment, Inc. (NASDAQ CM: ZOOG)
is a developer, publisher and distributor of interactive
entertainment for Internet-connected consoles, handheld gaming
devices, PCs, and mobile devices.


ZOGENIX INC: Amends 30 Million Common Shares Offering
-----------------------------------------------------
Zogenix, Inc., filed with the U.S. Securities and Exchange
Commission Amendment No.2 to Form S-1 registration statement
relating to the sale of 30,000,000 shares of the Company's common
stock.

The Company's common stock is listed on the Nasdaq Global Market
under the symbol "ZGNX."  On Sept. 14, 2011, the last reported
sale price of the Company's common stock on the Nasdaq Global
Market was $2.62 per share.  The Company currently expects the
public offering price of the shares offered hereby to be $2.00 per
share of common stock.

A full-text copy of the amended prospectus is available for free
at http://is.gd/AUtCKM

                         About Zogenix Inc.

Zogenix, Inc. (NASDAQ: ZGNX), with offices in San Diego and
Emeryville, California, is a pharmaceutical company
commercializing and developing products for the treatment of
central nervous system disorders and pain.

The Company's balance sheet at June 30, 2011, showed
$51.4 million in total assets, $58.5 million in total liabilities,
and a stockholders' deficit of $7.1 million.

As reported in the TCR on March 8, 2011, Ernst & Young LLP, in San
Diego, Calif., expressed substantial doubt about Zogenix's ability
to continue as a going concern, following the Company's 2010
results.  The independent auditors noted that of the Company's
recurring losses from operations and lack of sufficient working
capital.


* BOND PRICING -- For Week From Sept. 12 - 16, 2011
---------------------------------------------------

  Company           Coupon       Maturity  Bid Price
  -------           ------       --------  ---------
ACARS-GM              8.10      6/15/2024    1.00
AGY HOLDING COR      11.00     11/15/2014   52.00
AHERN RENTALS         9.25      8/15/2013   34.50
AMBAC INC             5.95      12/5/2035   11.50
AMBAC INC             6.15       2/7/2087    0.70
AMBAC INC             7.50       5/1/2023   10.00
AMBAC INC             9.38       8/1/2011   10.00
AMBAC INC             9.50      2/15/2021   12.00
AMERICAN ORIENT       5.00      7/15/2015   52.59
BANK NEW ENGLAND      8.75       4/1/1999   14.00
BANK NEW ENGLAND      9.88      9/15/1999   14.00
BANKUNITED FINL       6.37      5/17/2012    7.10
BLOCKBUSTER INC      11.75      10/1/2014    2.13
CAPMARK FINL GRP      5.88      5/10/2012   54.19
CIRCUS & ELDORAD     10.13       3/1/2012   80.00
CS FINANCING CO      10.00      3/15/2012    4.00
DECODE GENETICS       3.50      4/15/2011    0.50
DIRECTBUY HLDG       12.00       2/1/2017   33.75
DIRECTBUY HLDG       12.00       2/1/2017   36.75
DUNE ENERGY INC      10.50       6/1/2012   54.16
EDDIE BAUER HLDG      5.25       4/1/2014    7.00
ENERGY CONVERS        3.00      6/15/2013   45.90
EVERGREEN SOLAR       4.00      7/15/2013    5.88
EVERGREEN SOLAR       4.00      7/15/2020   13.00
EVERGREEN SOLAR      13.00      4/15/2015   59.75
GLB AVTN HLDG IN     14.00      8/15/2013   45.83
GLOBALSTAR INC        5.75       4/1/2028   59.75
GREAT ATLA & PAC      6.75     12/15/2012   30.25
HAWKER BEECHCRAF      8.50       4/1/2015   45.00
HAWKER BEECHCRAF      9.75       4/1/2017   40.00
LEHMAN BROS HLDG      3.00     10/28/2012   25.13
LEHMAN BROS HLDG      3.00     11/17/2012   24.25
LEHMAN BROS HLDG      4.70       3/6/2013   23.38
LEHMAN BROS HLDG      4.80      2/27/2013   23.13
LEHMAN BROS HLDG      4.80      3/13/2014   23.13
LEHMAN BROS HLDG      5.00      1/22/2013   23.13
LEHMAN BROS HLDG      5.00      2/11/2013   22.50
LEHMAN BROS HLDG      5.00      3/27/2013   21.50
LEHMAN BROS HLDG      5.00       8/3/2014   23.13
LEHMAN BROS HLDG      5.00       8/5/2015   23.38
LEHMAN BROS HLDG      5.10      1/28/2013   22.13
LEHMAN BROS HLDG      5.15       2/4/2015   23.13
LEHMAN BROS HLDG      5.25       2/6/2012   21.57
LEHMAN BROS HLDG      5.25      1/30/2014   23.13
LEHMAN BROS HLDG      5.25      2/11/2015   23.38
LEHMAN BROS HLDG      5.40      3/20/2020   16.00
LEHMAN BROS HLDG      5.50       4/4/2016   23.00
LEHMAN BROS HLDG      5.63      1/24/2013   24.75
LEHMAN BROS HLDG      5.70      1/28/2018   22.00
LEHMAN BROS HLDG      5.75      5/17/2013   22.38
LEHMAN BROS HLDG      5.88     11/15/2017   22.50
LEHMAN BROS HLDG      6.00      7/19/2012   23.93
LEHMAN BROS HLDG      6.20      9/26/2014   24.20
LEHMAN BROS HLDG      6.63      1/18/2012   24.25
LEHMAN BROS HLDG      6.88       5/2/2018   25.13
LEHMAN BROS HLDG      7.00      6/26/2015   23.50
LEHMAN BROS HLDG      7.00     12/18/2015   25.63
LEHMAN BROS HLDG      7.00      4/16/2019   22.55
LEHMAN BROS HLDG      8.05      1/15/2019   22.00
LEHMAN BROS HLDG      8.50       8/1/2015   22.00
LEHMAN BROS HLDG      8.80       3/1/2015   24.00
LEHMAN BROS HLDG      9.00       3/7/2023   19.78
LEHMAN BROS HLDG      9.50     12/28/2022   21.75
LEHMAN BROS HLDG      9.50      1/30/2023   22.63
LEHMAN BROS HLDG      9.50      2/27/2023   21.25
LEHMAN BROS HLDG     10.00      3/13/2023   25.13
LEHMAN BROS HLDG     10.38      5/24/2024   20.96
LEHMAN BROS HLDG     11.00      6/22/2022   23.50
LEHMAN BROS HLDG     11.00      7/18/2022   20.00
LEHMAN BROS HLDG     11.00      3/17/2028   25.50
LEHMAN BROS HLDG     11.50      9/26/2022   22.00
LEHMAN BROS HLDG     18.00      7/14/2023   25.75
LEHMAN BROS INC       7.50       8/1/2026   15.00
LIFEPT VILGE          8.50      3/19/2013   49.50
LOCAL INSIGHT        11.00      12/1/2017    2.25
MAJESTIC STAR         9.75      1/15/2011    5.00
MOHEGAN TRIBAL        7.13      8/15/2014   48.00
MOHEGAN TRIBAL        8.00       4/1/2012   62.85
NBC ACQ CORP         11.00      3/15/2013    1.00
NEBRASKA BOOK CO      8.63      3/15/2012   53.00
NEWPAGE CORP         12.00       5/1/2013    2.00
PMI CAPITAL I         8.31       2/1/2027    9.00
PMI GROUP INC         6.00      9/15/2016   31.25
REAL MEX RESTAUR     14.00       1/1/2013   82.50
RESTAURANT CO        10.00      10/1/2013   15.00
RIVER ROCK ENT        9.75      11/1/2011   80.00
S0-CALL09/11          5.50     12/15/2028  100.00
SBARRO INC           10.38       2/1/2015    6.80
SO-CALL09/11          5.40       3/1/2033  100.00
TEXAS COMP/TCEH      10.25      11/1/2015   42.44
TEXAS COMP/TCEH      10.25      11/1/2015   38.88
THORNBURG MTG         8.00      5/15/2013    9.00
TIMES MIRROR CO       7.25       3/1/2013   39.14
TOUSA INC             9.00       7/1/2010   19.50
TRAILER BRIDGE        9.25     11/15/2011   95.00
TRICO MARINE          3.00      1/15/2027    1.25
TRICO MARINE SER      8.13       2/1/2013    4.00
VIRGIN RIVER CAS      9.00      1/15/2012   51.00
WASH MUT BANK FA      5.13      1/15/2015    0.25
WCI COMMUNITIES       4.00       8/5/2023    1.57
WILLIAM LYON INC      7.50      2/15/2014   21.00
WILLIAM LYON INC     10.75       4/1/2013   25.50
WILLIAM LYONS         7.63     12/15/2012   25.23
WINDERMERE BAPT       7.70      5/15/2012   18.00



                           *********

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

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

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

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

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

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

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

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

                           *********

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

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

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

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

The TCR subscription rate is $775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
Beard at 240/629-3300.


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