TCR_Public/111008.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

           Saturday, October 8, 2011, Vol. 15, No. 279

                            Headlines

4KIDS ENTERTAINMENT: Ends August 2011 With $757,078 Cash
4KIDS ENTERTAINMENT: 4Kids Ad Sales Ends August With $730,476 Cash
4KIDS ENTERTAINMENT: 4Kids Productions Ends Aug. W/ $147,166 Cash
4KIDS ENTERTAINMENT: 4Sight Licensing Ends Aug. With $122,138 Cash
4KIDS ENTERTAINMENT: Licensing Ends August 2011 With $1.7MM Cash

4KIDS ENTERTAINMENT: Music Files July & Aug 2011 Operating Reports
BLACK CROW: Reports Pre-Tax Earnings of $58,362 in July 2011
BORDERS GROUP: Has Cash Receipts of $331-Mil. in August
DALLAS STARS: Files Initial Monthly Operating Report
GREAT ATLANTIC: Has $293.3 Million Cash as of August 13

INNKEEPERS USA: Reports $10.6 Million Net Income in August 2011
LEHMAN BROTHERS: Has $25.5-Bil. in Cash at Aug. 31
LOS ANGELES DODGERS: LA Holdco Posts $1.6MM Net Loss in August
MAGIC BRANDS: Posts $889,724 Net Loss in Period Ended June 30
MERIT GROUP: Ends August 2011 With $5.6 Million Cash in Bank

MSR RESORT: Posts $14.3 Million Net Loss in August 2011
NEBRASKA BOOK: Posts Net Loss of $6.2MM in 5 Months Ended Aug. 31
OTERO COUNTY: Posts $137,096 Net Loss From Aug. 16 to Aug. 31
PALM HARBOR: Reports $2.4 Million Net Income in July 2011
PFF BANCORP: Posts $35,864 Net Loss in August 2011

POINT BLANK: Turns Profit Thanks to 'Other Income'
SEAHAWK DRILLING: Ends August 2011 With $9.3 Million Cash
TRIBUNE CO: Reports $9,568,000 Profit in August
VITRO SAB: Vitro America Ends August 2011 With $9.4 Million Cash
WASHINGTON MUTUAL: Ends August 2011 With $4.49 Billion Cash




                            *********


4KIDS ENTERTAINMENT: Ends August 2011 With $757,078 Cash
--------------------------------------------------------
4Kids Entertainment, Inc., filed its monthly operating report for
August 2011 on Sept. 14, 2011, and its monthly operating report
for July 2011 on Aug. 15, 2011.

4Kids Entertainment, Inc., ended August 2011 with $757,078 cash:

     Cash, Beginning             $962,628
     Receipts                  $1,302,487
     Disbursements             $1,508,037
     Net Cash Flow              ($205,550)
     Cash, End                   $757,078

A copy of the August 2011 operating report is available for free
at http://bankrupt.com/misc/4kidsentertainment.august2011mor.pdf

4Kids Entertainment, Inc., ended July 2011 with $962,628 cash:

     Cash, Beginning             $2,079,076
     Receipts                      $188,126
     Disbursements               $1,304,574
     Net Cash Flow              ($1,116,448)
     Cash, End                     $962,628

A copy of the July monthly operating report is available for free
at http://bankrupt.com/misc/4kidsentertainment.july2011mor.pdf

                    About 4Kids Entertainment

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

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

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

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


4KIDS ENTERTAINMENT: 4Kids Ad Sales Ends August With $730,476 Cash
------------------------------------------------------------------
4Kids Ad Sales, Inc., filed its monthly operating reports for
August 2011 on Sept. 14, 2011, and its monthly operating report
for July 2011 on Aug. 15, 2011.

4Kids Ad Sales, Inc., ended August 2011 with $730,476 cash:

     Cash, Beginning               $146,561
     Receipts                      $780,660
     Disbursements                 $196,745
     Net Cash Flow                 $583,915
     Cash, End                     $730,476

A copy of the August 2011 operating report is available for free
at http://bankrupt.com/misc/4kidsadsales.august2011mor.pdf

4Kids Ad Sales, Inc., ended July 2011 with $146,561 cash:

     Cash, Beginning               $171,836
     Receipts                      $122,451
     Disbursements                 $147,726
     Net Cash Flow                 ($25,275)
     Cash, End                     $146,561

A copy of the July 2011 monthly operating report is available for
free at http://bankrupt.com/misc/4kidsadsales.july2011mor.pdf

                    About 4Kids Entertainment

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

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

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

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


4KIDS ENTERTAINMENT: 4Kids Productions Ends Aug. W/ $147,166 Cash
-----------------------------------------------------------------
4Kids Productions, Inc., filed its monthly operating report for
August 2011 on Sept. 14, 2011, and its monthly operating report
for July 2011 on Aug. 15, 2011.

4Kids Productions, Inc., ended August 2011 with $147,166 cash:

     Cash, Beginning               $301,268
     Receipts                      $203,177
     Disbursements                 $357,279
     Net Cash Flow                ($154,102)
     Cash, End                     $147,166

A copy of the August 2011 operating report is available for free
at http://bankrupt.com/misc/4kidsproductions.august2011mor.pdf

4Kids Productions, Inc., ended July 2011 with $301,268 cash:

     Cash, Beginning               $295,761
     Receipts                      $199,211
     Disbursements                 $193,704
     Net Cash Flow                   $5,507
     Cash, End                     $301,268

A copy of the July 2011 operating report is available for free
at http://bankrupt.com/misc/4kidsproductions.july2011mor.pdf

                    About 4Kids Entertainment

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

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

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

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


4KIDS ENTERTAINMENT: 4Sight Licensing Ends Aug. With $122,138 Cash
------------------------------------------------------------------
4Sight Licensing Solutions, Inc., filed its monthly operating
reports for August 2011 on Sept. 14, 2011, and its monthly
operating report for July 2011 on Aug. 15, 2011.

4Sight Licensing Solutions, Inc., ended August 2011 with $122,138
cash:

     Cash, Beginning               $113,504
     Receipts                       $57,237
     Disbursements                  $48,603
     Net Cash Flow                   $8,634
     Cash, End                     $122,138

A copy of the August 2011 operating report is available for free
at http://bankrupt.com/misc/4sightlicensing.august2011mor.pdf

4Sight Licensing Solutions, Inc., ended July 2011 with $113,504
cash:

     Cash, Beginning                $94,726
     Receipts                      $118,504
     Disbursements                  $99,726
     Net Cash Flow                  $18,778
     Cash, End                     $113,504

A copy of the July 2011 monthly operating report is available for
free at http://bankrupt.com/misc/4sightlicensing.july2011mor.pdf

                    About 4Kids Entertainment

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

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

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

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


4KIDS ENTERTAINMENT: Licensing Ends August 2011 With $1.7MM Cash
----------------------------------------------------------------
4Kids Entertainment Licensing, Inc., filed its monthly operating
report for August 2011 on Sept. 14, 2011, and its monthly
operating report for July 2011 on Aug. 15, 2011.

4Kids Entertainment Licensing ended August 2011 with $1,681,590
cash:

     Cash, Beginning             $2,348,501
     Receipts                    $1,603,252
     Disbursements               $2,270,163
     Net Cash Flow                ($666,911)
     Cash, End                   $1,681,590

A copy of the August 2011 monthly operating report is available
for free at:

    http://bankrupt.com/misc/4kidsentlicensing.aug2011mor.pdf

4Kids Entertainment Licensing ended July 2011 with $2,348,501
cash:

     Cash, Beginning             $2,568,522
     Receipts                      $464,402
     Disbursements                 $684,423
     Net Cash Flow                 $220,021
     Cash, End                   $2,348,501

A copy of the July 2011 monthly operating report is available for
free at http://bankrupt.com/misc/4kidsentlicensing.july2011mor.pdf

                    About 4Kids Entertainment

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

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

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

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


4KIDS ENTERTAINMENT: Music Files July & Aug 2011 Operating Reports
------------------------------------------------------------------
4Kids Entertainment Music, Inc., filed its monthly operating
report for August 2011 on Sept. 14, 2011, and its monthly
operating report for July 2011 on Aug. 15, 2011.

4Kids Entertainment Music, Inc., ended August 2011 with $0 cash:

     Cash, Beginning                     $0
     Receipts                            $0
     Disbursements                       $0
     Net Cash Flow                       $0
     Cash, End                           $0

A copy of the August 2011 operating report is available for free
at http://bankrupt.com/misc/4kidsentmusic.august2011mor.pdf

4Kids Entertainment Music, Inc., ended July 2011 with $0 Cash:
cash:

     Cash, Beginning               $191,533
     Receipts                            $0
     Disbursements                 $191,533
     Net Cash Flow                ($191,533)
     Cash, End                           $0

A copy of the July 2011 monthly operating report is available for
free at:

http://bankrupt.com/misc/4kidsentertainmentmusic.july2011mor.pdf

                    About 4Kids Entertainment

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

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

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

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


BLACK CROW: Reports Pre-Tax Earnings of $58,362 in July 2011
------------------------------------------------------------
Black Crow Media Group, LLC, et al., filed on Aug. 22, 2011, their
monthly operating report for the month ended July 31, 2011.

Black Crow Media Group LLC, et al., reported pretax earnings of
$58,362 on $1.1 million of revenues for July.  Reorganization
expenses in the month totaled $107,000.

At July 31, 2011, the Debtors had $37.8 million in total assets,
$47.5 million in total liabilities, and a stockholders' deficit
of $9.7 million.

A copy of the July 2011 operating report is available for free at:

        http://bankrupt.com/misc/blackcrow.july2011mor.pdf

                         About Black Crow

Daytona Beach, Florida-based Black Crow Media Group, LLC, owns and
operates 17 FM and 5 AM radio stations in Daytona Beach, Live Oak,
Valdosta, Huntsville, Alabama, and Jackson, Tennessee.

Black Crow filed for Chapter 11 protection two days before a
hearing in U.S. district court where GECC was seeking appointment
of a receiver following default on term loans and a revolving
credit.

The Company filed for Chapter 11 bankruptcy protection (Bankr.
M.D. Fla. Case No. 10-00172) on Jan. 11, 2010.  The Company's
affiliates -- Black Crow Media, LLC, et al. -- also filed separate
Chapter 11 petitions.

H. Jason Gold, Esq., Valerie P. Morrison, Esq., and Dylan G.
Trache, Esq., at Wiley Rein LLP, in McLean, Virginia, serve as the
Debtors' counsel.  Mariane L. Dorris, Esq., and R. Scott Shuker,
Esq., at Latham, Shuker, Eden & Beaudine, LLP, have been tapped as
co-counsel.  Protiviti Inc. is the Debtors' financial advisor.
Epiq Bankruptcy Solutions, LLC, is the claims and notice agent.
Brian G. Rich, Esq., and Douglas Bates, Esq., at Berger Singerman,
P.A., represent the Official Committee of Unsecured Creditors.

Black Crow disclosed $14,661,198 in assets and $48,830,319 in
liabilities as of the Chapter 11 filing.


BORDERS GROUP: Has Cash Receipts of $331-Mil. in August
-------------------------------------------------------

                       Borders Group, Inc.
                         Balance Sheet
                      As of August 27, 2011

ASSETS
Current assets:
Cash and cash equivalents                          $89,700,000
Merchandise inventories                             84,900,000
Accounts receivable and other current assets        79,600,000
Property and equipment, held for sale               10,100,000
                                               ----------------
Total assets in liquidation                        264,300,000
                                               ----------------
   TOTAL ASSETS                                    $264,300,000
                                               ================

LIABILITIES
Current liabilities:
Trade accounts payable                                $500,000
Accrued payroll and other liabilities              209,900,000
Taxes, including income taxes                       24,200,000
Liabilities subject to compromise                  800,400,000
                                               ----------------
Total liabilities in liquidation                 1,035,000,000
                                               ----------------
    NET ASSETS (LIABILITIES) IN LIQUIDATION       ($770,700,000)
                                               ================

                         Borders Group, Inc.
                       Statement of Operations
            For the Period July 31, 2011 to August 27, 2011

Sales                                               $13,700,000
Other revenue                                       126,800,000
                                               ----------------
Total revenue                                      140,500,000

Cost of merchandise sold (includes occupancy)       130,100,000
                                               ----------------
Gross margin                                        10,400,000
Selling, general and administrative expenses         11,700,000
Asset impairments and other writedowns                        -
                                               ----------------
Operating income (loss)                             (1,300,000)

Interest expense (income)                               300,000
Loss on extinguishment of debt                                -
                                               ----------------
Total interest expense                                 300,000

Income (loss) before reorganization items
and income taxes                                    (1,600,000)

Reorganization items, net                            64,300,000
                                               ----------------
Income (loss) before income taxes                  (65,900,000)

Income tax provision (benefit)                                -
                                               ----------------
  NET INCOME (LOSS)                                ($65,900,000)
                                               ================

                        Borders Group, Inc.
              Schedule of Cash Receipts and Disbursements
            For the period July 31, 2011 to August 27, 2011

Cash Receipts
Combined Debtors                                   $331,097,000
                                               ----------------
Total Cash Receipts                               $331,097,000
                                               ================

Cash Disbursements:
Borders Group, Inc.                                 ($4,479,000)
Borders, Inc.                                      (327,637,000)
Borders International Services, Inc.                          -
Borders Direct, LLC                                           -
Borders Properties, Inc.                                (16,000)
Borders Online, Inc.                                          -
Borders Online, LLC                                           -
BGP (UK) Limited                                              -
                                               ----------------
Total Cash Disbursements                         ($332,132,000)
                                               ================

Borders also made payments, totaling $1,688,744, for its DIP
Loans and Leases for the period July 31, 2011, to August 27,
2011.

A full-text copy of the Monthly Operating Report is available for
free at http://bankrupt.com/misc/Borders_Aug2011MOR.pdf

                       About Borders Group

Borders Group operated book, music and movie superstores and mall
based bookstores under the Borders, Waldenbooks, Borders Express
and Borders Outlet names, as well as Borders-branded airport
stores in the United States.  At Jan. 29, 2011, the Company
operated 639 stores in the United States and 3 in Puerto Rico.
The Company also operated a proprietary e-commerce Web site --
http://www.Borders.com/-- launched in May 2008, which included
both in-store and online e-commerce components.  As of Feb. 11,
2011, Borders employed a total of 6,100 full-time employees,
11,400 part-time employees, and roughly 600 contingent employees.

Borders Group Inc. and its affiliates filed for Chapter 11
protection (Bankr. S.D.N.Y. Case No. Lead Case No. 11-10614) in
Manhattan on Feb. 16, 2011.

David M. Friedman, Esq., David S. Rosner, Esq., Andrew K. Glenn,
Esq., and Jeffrey R. Gleit, Esq., at Kasowitz, Benson, Torres &
Friedman LLP, in New York, serve as counsel to the Debtors.
Jefferies & Company's Inc. is the financial advisor.  DJM Property
Management is the lease and real estate services provider.  AP
Services LLC is the interim management and restructuring services
provider.  The Garden City Group, Inc., is the claims and notice
agent.

Attorneys at Morgan, Lewis & Bockius LLP, and Riemer & Braunstein
LLP, serve as counsel to the DIP Agents.

Lowenstein Sandler represents the official unsecured creditors
committee for Borders Group.  Bruce S. Nathan and Bruce Buechler,
members of Lowenstein Sandlers' Bankruptcy, Financial
Reorganization & Creditors' Rights Group, are leading the team.

The Debtor disclosed $1.28 billion in assets and $1.29 billion in
liabilities as of Dec. 25, 2010

Borders is completing going-out-of-business sales that
began at all of its remaining locations in July. The creditors'
committee said before the liquidation began that Borders
expected to generate $252 million to $284 million in cash from
the sales. Borders is selling store leases separately. Borders
selected proposals by Hilco and Gordon Brothers to conduct going
out of business sales for all stores after no going concern offers
of higher value were submitted by the deadline.

Bankruptcy Creditors' Service, Inc., publishes BORDERS GROUP
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by Borders Group Inc., the United States' second
largest bookstore chain.  (http://bankrupt.com/newsstand/or
215/945-7000)


DALLAS STARS: Files Initial Monthly Operating Report
----------------------------------------------------
Dallas Stars, L.P., filed on Sept. 30, 2011, an initial monthly
operating report with the U.S. Bankruptcy Court for the District
of Delaware.

The Debtor submitted, among others, a daily cash forecast for the
period Sept. 22, 2011, through Dec. 30, 2011, reflecting beginning
cash of $10,999,842 and ending cash of ($3,614,523).

A copy of the initial monthly operating report is available for
free at http://bankrupt.com/misc/dallasstars.initialmor.pdf

                        About Dallas Stars

Frisco, Texas-based Dallas Stars, L.P. -- http://stars.nhl.com/--
operates as a professional men's ice hockey team.  The company was
formerly known as Minnesota North Stars and changed its name to
Dallas Stars, L.P. in 1993.

Dallas Stars and three affiliates filed for Chapter 11 bankruptcy
(Bankr. D. Del. Case Nos. 11-12935 to 11-12938) on Sept. 15, 2011.
The affiliates are Dallas Arena LLC, Dallas Stars U.S. Holdings
Corporation, and StarCenters LLC.  Judge Peter J. Walsh presides
over the cases.  Martin A. Sosland, Esq., and Ronit J. Berkovich,
Esq., at Weil, Gotshal & Manges LLP, serve as bankruptcy counsel
to the Debtors.  John H. Knight, Esq., at Richards Layton &
Finger, P.A., serves as the Debtors' Delaware counsel. The Garden
City Group, Inc., as their notice, claims, and solicitation agent.

Dallas Stars estimated $100 million to $500 million in assets and
debts in its petition.  The petitions were signed by Robert L.
Hutson, chief financial officer.

The team is owned by Dallas businessman Thomas O. Hicks' HSG
Sports Group.  Mr. Hicks was the former owner of the Texas
Rangers.  The Texas Rangers were sold in a bankruptcy court-
supervised auction to a group led by Hall of Fame pitcher Nolan
Ryan for $593 million.

The Stars are the second NHL team to file for bankruptcy since
2009, after the Phoenix Coyotes.

Counsel to JP Morgan Chase Bank, N.A., as Prepetition First Lien
Agent, is Mitchell A. Seider, Esq., and Joseph Fabiani, Esq., at
Latham & Watkins LLP.  Its Delaware counsel is Michael R.
Lastowski, Esq., at Duane Morris LLP.

First lien lender Monarch Alternative Capital LLC is represented
by Andrew M. Leblanc, Esq., at Milbank Tweed Hadley and McCloy
LLP.

Counsel to the NHL are Thomas W. Gowan, Esq., and J. Gregory
Milmoe, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP.

Counsel to GSP Finance LLC, as successor in interest to Barclays
Bank PLC, as Prepetition Second Lien Agent, is Jason Young, Esq.,
at Clifford Chance US LLP.


GREAT ATLANTIC: Has $293.3 Million Cash as of August 13
-------------------------------------------------------
On Sept. 28, 2011, The Great Atlantic & Pacific Tea Company, Inc.,
and its U.S. subsidiaries filed their monthly operating report for
the period from July 17, 2011, to Aug. 13, 2011, with the U.S.
Bankruptcy Court for the Southern District of New York.

The Debtors reported a net loss of $34.4 million on $529.0 million
of sales for the four weeks ended Aug. 13, 2011.

At Aug. 13, 2011, the Debtors' consolidated balance sheet showed
$2.339 billion in total assets, $3.530 billion in total
liabilities, $146.3 million in Series A redeemable preferred
stock, and a stockholders' deficit of $1.337 billion.  The Debtors
ended the period with $293.3 million in cash and cash equivalents
compared to $332.6 billion at the beginning of the period.

A copy of the operating report is available at http://is.gd/1EUtlW

                  About Great Atlantic & Pacific

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

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

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

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

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


INNKEEPERS USA: Reports $10.6 Million Net Income in August 2011
---------------------------------------------------------------
Innkeepers USA Trust reported operating income of $3.8 million on
$24 million of revenue for the month ended Aug. 31, 2011.  Net
income for the month was $10.6 million.

Reorganization items included net charges of approximately
$2.6 million in August 2011, which consisted primarily of
professional fees associated with the Chapter 11 Cases.
Interest expenses totaled $358,414 in the month.  Amortization of
loan origination fees was $208,722.

At Aug. 31, 2011, the Debtor had $1.063 billion in total assets,
$1.262 billion in total liabilities, distributions payable
$52.8 million and a stockholders' deficit of $251.5 million.

A copy of the August 2011 operating report is available for free
at http://bankrupt.com/misc/innkeepersusa.august2011mor.pdf

Innkeepers USA Trust reported operating income of $3.3 million on
$26.7 million of revenue for the month ended July 31, 2011.  Net
income for the month was $16.6 million.

Reorganization items included net charges of approximately
$9.6 million in July 2011, which consisted primarily of
professional fees and closing costs of emerging properties
associated with the Chapter 11 Cases.

Interest expenses totaled $10.8 million in the month.
Amortization of loan origination fees was $1.5 million.

At July 31, 2011, the Debtor had $1.095 billion in total assets,
$1.304 billion in total liabilities, distributions payable
$52.8 million and a stockholders' deficit of $262.1 million.

A copy of the July 2011 monthly operating report is available for
free at http://bankrupt.com/misc/innkeepersusa.july2011mor.pdf

                    About Innkeepers USA Trust

Innkeepers USA Trust is a self-administered real estate investment
trust organized under the laws of Maryland and the direct
subsidiary of debtor Grand Prix Holdings LLC and the direct or
indirect parent of each of the other debtors and debtors in
possession.  The Debtors currently own and operate an expansive
portfolio of 64 upscale and mid-priced extended-stay and select-
service hotels, consisting of approximately 8,300 rooms, located
in 19 states across the United States.  The Debtors operate their
hotels under premium, well-recognized brands, such as Marriott,
Hyatt, Hilton, and others.

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.

On May 19, 2011, the Bankruptcy Court entered an order approving,
among other things, the Debtors' disclosure statement and certain
solicitation procedures.
On June 29, 2011, the Bankruptcy Court entered an order confirming
the Debtors' proposed plans of reorganization.

On July 7, 2011, the Debtors under the Ontario Joint Plan of
Reorganization emerged from their court-supervised restructuring,
and the Ontario Plan became effective.

On July 15, 2011, pursuant to the terms of the Remaining Debtor
Joint Plan of Reorganization, and subject to the Agreement of
Purchase and Sale, dated as of May 3, 2011, between certain of the
Debtors and Chatham Lodging, L.P., the Debtors finalized the sale
to Chatham of the Residence Inn in Garden Grove, California, the
Residence Inn in San Diego, California, the Doubletree in
Washington, District of Columbia, the Residence Inn in Tyson's
Corner, Virginia, and the Homewood Suites in San Antonio, Texas
(collectively, the "Remaining Debtor Properties").  The Debtors
and Chatham evenly split the revenue attributable to the Remaining
Debtor Properties generated on July 13, 2011, and Chatham began
receiving all revenue generated at the Remaining Debtor Properties
on July 14, 2011.

Also on July 15, 2011, certain (but not all) of the Debtors under
the Remaining Debtor Plan (the "Effective Date Remaining Debtors")
emerged from their court-supervised restructuring, and the
Remaining Debtor Plan with respect to the Effective Date Remaining
Debtors became effective.

On July 28, 2011, the Debtors under the Anaheim Joint Plan of
Reorganization emerged from their court-supervised restructuring,
and the Anaheim Plan became effective.  The closing transaction
entries for the Anaheim Plan are currently under review and will
be reflected in next month's consolidated financial statement.

On Aug. 19, 2011, Cerberus Series Four Holdings, LLC, INK
Acquisition LLC, INK Acquisition II LLC, and Chatham Lodging Trust
sent the Debtors a notice purporting to terminate their
commitments with respect to the $1.12 billion transaction that
forms the basis of the Fixed/Floating Joint Plan of
Reorganization.

The ultimate recovery by the Debtors' creditors and shareholders
on account of prepetition claims and interests, if any, will not
be determined until implementation of the Plan.


LEHMAN BROTHERS: Has $25.5-Bil. in Cash at Aug. 31
--------------------------------------------------
Lehman Brothers Holdings Inc. disclosed these cash receipts and
disbursements of the company, its affiliated debtors and
controlled entities for the month ended August 31, 2011:

Beginning Total Cash & Investments (08/01/11) $25,158,000,000
Total Sources of Cash                           1,063,000,000
Total Uses of Cash                               (723,000,000)
FX Fluctuation                                     (4,000,000)
                                               ---------------
Ending Total Cash & Investments (08/31/11)    $25,494,000,000

LBHI reported $4.054 billion in cash and investments as of
August 1, 2011, and $4.106 billion as of August 31, 2011.

The monthly operating report also showed that a total of
$34,561,000 was paid last month to the U.S Trustee and
professionals that were retained in the Debtors' Chapter 11
cases.

From Sept. 15, 2008 to Aug. 31, 2011, a total of $1,407,452,000
was paid to the U.S. Trustee and professionals, of which
$469,678,000 was paid to the Debtors' turnaround manager
Alvarez & Marsal LLC while $334,773,000 was paid to their
bankruptcy counsel, Weil Gotshal & Manges LLP.

A full-text copy of the August 2011 Operating Report is available
for free at http://bankrupt.com/misc/LehmanMORAugust3111.pdf

                    About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was
the fourth largest investment bank in the United States.  For
more than 150 years, Lehman Brothers has been a leader in the
global financial markets by serving the financial needs of
corporations, governmental units, institutional clients and
individuals worldwide.

Lehman Brothers filed for Chapter 11 bankruptcy Sept. 15, 2008
(Bankr. S.D.N.Y. Case No. 08-13555).  Lehman's bankruptcy
petition disclosed US$639 billion in assets and US$613 billion in
debts, effectively making the firm's bankruptcy filing the
largest in U.S. history.  Several other affiliates followed
thereafter.

Additional units, Merit LLC, LB Somerset LLC and LB Preferred
Somerset LLC, sought for bankruptcy protection in December 2009
or more than a year after LBHI and its other affiliates filed
their bankruptcy cases.

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at
Weil, Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

Dennis F. Dunne, Esq., Evan Fleck, Esq., and Dennis O'Donnell,
Esq., at Milbank, Tweed, Hadley & McCloy LLP, in New York, serve
as counsel to the Official Committee of Unsecured Creditors.
Houlihan Lokey Howard & Zukin Capital, Inc., is the Committee's
investment banker.

On Sept. 19, 2008, the Honorable Gerard E. Lynch of the U.S.
District Court for the Southern District of New York, entered an
order commencing liquidation of Lehman Brothers, Inc., pursuant
to the provisions of the Securities Investor Protection Act (Case
No. 08-CIV-8119 (GEL)).  James W. Giddens has been appointed as
trustee for the SIPA liquidation of the business of LBI.

The Bankruptcy Court has approved Barclays Bank Plc's purchase
of Lehman Brothers' North American investment banking and
capital markets operations and supporting infrastructure for
US$1.75 billion.  Nomura Holdings Inc., the largest brokerage
house in Japan, purchased LBHI's operations in Europe for US$2
plus the retention of most of employees.  Nomura also bought
Lehman's operations in the Asia Pacific for US$225 million.

               International Operations Collapse

Lehman Brothers International (Europe), the principal UK trading
company in the Lehman group, was placed into administration,
together with Lehman Brothers Ltd, LB Holdings PLC and LB UK RE
Holdings Ltd.  Tony Lomas, Steven Pearson, Dan Schwarzmann and
Mike Jervis, partners at PricewaterhouseCoopers LLP, have been
appointed as joint administrators to Lehman Brothers
International (Europe) on Sept. 15, 2008.  The joint
administrators have been appointed to wind down the business.

Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan
Inc. filed for bankruptcy in the Tokyo District Court on
Sept. 16.  Lehman Brothers Japan Inc. reported about JPY3.4
trillion (US$33 billion) in liabilities in its petition.

Judge James Peck  on Aug. 30, 2011, approved the disclosure
statement, which outlines the major provisions of Lehman's $65
billion liquidation plan.  The proposed plan would enable LBHI and
its affiliated debtors to pay an estimated $65 billion to their
creditors.  Voting on the Plan ends on Nov. 4, 2011.  A hearing to
consider confirmation of the Plan is set for Dec. 6, 2011.

Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Lehman Brothers Holdings, Inc., and other
insolvency and bankruptcy proceedings undertaken by its
affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000)


LOS ANGELES DODGERS: LA Holdco Posts $1.6MM Net Loss in August
--------------------------------------------------------------
LA Holdco LLC reported a net loss of $1.6 million on $34.7 million
of revenues for the month of August 2011.

LA Holdco LLC's consolidated balance sheet at Aug. 31, 2011,
showed $363.0 million in total assets, $634.0 million in total
liabilities, and a members' deficit of $271.0 million.

Los Angeles Dodgers LLC reported net income of $3.6 million on
$37.8 million of revenues for the month ended Aug. 31, 2011.

As of Aug. 31, 2011, Los Angeles Dodgers LLC had $173.6 million in
total assets, $244.9 million in total liabilities, and a members'
deficit of $71.3 million.

LA Real Estate LLC reported a net loss of $5.2 million on
$12.4 million of revenues for the entire month of August 2011.
The report includes activity of Dodger Tickets LLC, a non-Debtor.

As of Aug. 31, 2011, LA Real Estate LLC had total assets of
$228.3 million, total liabilities of $428.0 million, and a
members' deficit of $199.7 million.

Debtors Los Angeles Dodgers Holding Company LLC and LA Real Estate
Holding Company LLC are holding companies and do not prepare
financial statements.

A copy of the monthly operating report is available for free at:

       http://bankrupt.com/misc/ladodgers.august2011mor.pdf

                  About the Los Angeles Dodgers

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

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

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

The petition estimates assets of up to $500 million and debts of
up to $1 billion.  In its schedules, the LA Dodgers baseball club
listed $77,963,734 in assets and $4,695,702 in liabilities.  LA
Real Estate LLC listed $161,761,883 in assets and $0 in
liabilities.

According to Forbes, the team is worth about $800 million, making
it the third most valuable baseball team after the New York
Yankees and the Boston Red Sox.

Judge Kevin Gross presides over the case.  Lawyers at Young,
Conaway, Stargatt & Taylor and Dewey & LeBoeuf LLP serve as the
Debtors' bankruptcy counsel.  Epiq Bankruptcy Solutions LLC is the
claims and notice agent.  Public relations specialist Kekst and
Company has been hired for crisis support.  Covington & Burling
LLP serves as special counsel.

An official committee of unsecured creditors has been appointed in
the case.  The panel has tapped Lazard Freres & Co. as financial
adviser and investment banker, and Morrison & Foerster LLP and
Pinckney, Harris & Weidinger, LLC as counsel.

Ticket holders are seeking the appointment of their own committee.

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

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


MAGIC BRANDS: Posts $889,724 Net Loss in Period Ended June 30
-------------------------------------------------------------
Deel, LLC, et al., formerly Magic Brands, LLC, filed on Sept. 28,
2011, 2011, their monthly operating reports for the reporting
period from May 23, 2011, through June 30, 2011.

The Debtor reported a net loss of $889,724 for the period.

At June 30, 2011, the Debtors had $18.9 million in total assets,
$16.6 million in total liabilities, all current, and members'
equity of $2.3 million.

A copy of the monthly operating report is available for free at:

          http://bankrupt.com/misc/deelllc.june30mor.pdf

                      About Magic Brands

Headquartered in Austin, Texas, Magic Brands, LLC --
http://www.fuddruckers.com/-- operated 62 Fuddruckers locations
in 11 states and 3 Koo Koo Roo restaurants in California.

Magic Brands and its operating units filed for Chapter 11
protection on April 21, 2010 (Bankr. D. Del. Lead Case No.
10-11310).  It estimated assets of up to $10 million and debts at
$10 million to $50 million in its Chapter 11 petition.  Affiliate
Fuddruckers, Inc., also filed, estimating assets and debts at
$50 million to $100 million.

FocalPoint Securities, LLC, serves as investment banker to Magic
Brands, and Goulston & Storrs serves as lead bankruptcy counsel.
Kurtzman Carson Consultants, LLC, is the claims and notice agent.

The Official Committee of Unsecured Creditors has tapped Kelley
Drye & Warren LLP as counsel and Klehr Harrison Harvey Branzburg
LLP as co-counsel.

Magic Brands in July 2010 closed the sale of the Fuddruckers
stores and franchise business to restaurant operator Luby's Inc.
for $63.5 million.  Magic Brands changed its name to Deel LLC
following the Luby's sale.

As reported in the TCR on June 22, 2011, the former owner of the
Fuddruckers restaurant chain was given approval of its liquidating
Chapter 11 plan when the bankruptcy judge in Delaware signed a
confirmation order last week.  Restaurant operator Luby's Inc.
bought the Fuddruckers restaurant chain in July for $63 million.
The Fuddruckers chain then changed its name from Magic Brands LLC
to Deel LLC and filed a liquidating Chapter 11 plan in January.


MERIT GROUP: Ends August 2011 With $5.6 Million Cash in Bank
------------------------------------------------------------
TMG Liquidation Company, et al. (f/k/a The Merit Group, Inc., et
al.) filed with the U.S. Bankruptcy Court for the District of
Southern Carolina on Sept. 23, 2011, their monthly operating
report for the period Aug. 1, 2011, through Aug. 31, 2011.

The Debtors ended the period with $5,622,188.08 cash:

     Beginning Balance          $4,865,691.32
     Receipts                   $6,653,841,49
     Disbursements              $5,897,344.73
     Change in Cash               $756,496.76
     Ending Balance             $5,622,188.08

Income statement and balance sheet information were not provided.

A copy of the August 2011 monthly operating report is available
for free at http://bankrupt.com/misc/tmg.august2011mor.pdf

TMG reported a net loss of $2.7 million on net sales of
$11.5 million for the period July 1, 2011, to July 29, 2011.

TMG's balance sheet at July 29, 2011, showed $91.6 million
in total assets, $112.8 million in total liabilities, and a
shareholders' deficit of $21.2 million.

The Debtors ended the period with $4,865,691.32 cash, compared
with $0 cash at June 30, 2011.

A copy of the July 2011 monthly operating report is available for
free at http://bankrupt.com/misc/tmg.july2011mor.pdf

                      About Merit Group

Based in Spartanburg, South Carolina, The Merit Group Inc.,
formerly Lancaster Distributing Company, serves as one of the
leading paint sundries distributors in the United States.  Its
markets also include Mexico, the Caribbean Islands, Central
America and South America.

Merit Group filed for Chapter 11 bankruptcy protection (Bankr. D.
S.C. Lead Case No. 11-03216) on May 17, 2011.  Judge Helen E.
Burris presides over the case.  Michael M. Beal, Esq., McNair Law
Firm PA, represents the Debtors.  The Debtors selected Kurtzman
Carson Consultants LLC as their claims agent; and Morgan Joseph
TriArtisan LLC, investment banker, and Alvarez & Marsal North
America, LLC, as financial advisors.  Merit Group disclosed
7,004,048 in assets and $66,609,946 in liabilities as of the
Chapter 11 filing.

DIP Lender Regions Bank is represented by lawyers at Nexsen Pruet
Jacobs & Pollard and Parker, Hudson, Rainer & Dobbs, LLP.

The U.S. Trustee has named seven members to the Official Committee
of Unsecured Creditors.  The Committee is represented by Cole,
Schotz, Meisel, Forman & Leonard, P.A.  The Committee tapped
McCarthy Law Firm LLC as co-counsel, J.H. Cohn LLP as its
financial advisor.


MSR RESORT: Posts $14.3 Million Net Loss in August 2011
-------------------------------------------------------
MSR Resort Golf Course LLC, et al., filed on Aug. 25, 2011, with
the U.S. Bankruptcy Court for the Southern District of New York
its monthly operating report for the month ended Aug. 31, 2011.

The Debtors reported a net loss of $14.3 million on total revenue
of $31.0 million for the month ended Aug. 31, 2011.

The Debtors' combined condensed balance sheet showed
$2.158 billion in total assets, $1.935 billion in total
liabilities, and partners' capital of $223.2 million.

A copy of the operating report is available for free at:

       http://bankrupt.com/misc/msrresort.august2011mor.pdf

                         About MSR Resort

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

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

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

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

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

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


NEBRASKA BOOK: Posts Net Loss of $6.2MM in 5 Months Ended Aug. 31
-----------------------------------------------------------------
On Sept. 30, 2011, the Nebraska Book Company, Inc., et al., filed
their monthly operating report for the period from Aug. 1, 2011,
to Aug. 31, 2011, with the U.S. Bankruptcy Court for the District
of Delaware.

The Debtors reported a consolidated net loss of $6.2 million on
$264.4 million of revenues for the five months ended Aug. 31,
2011.

The Debtors' balance sheet at Aug. 31, 2011, showed $659.1 million
in total assets, $704.7 million in total liabilities,
$14.1 million in Series A redeemable preferred stock, and a
stockholders' deficit of $59.6 million .

Payments to professionals totaled $464,064 during the month.

A copy of the operating report is available for free at

                       http://is.gd/vBwWhN

Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the Company has been unable to secure the
$250 million loan required for confirming and implementing the
Chapter 11 plan largely worked out before the Chapter 11 filing in
late June.  Currently, the confirmation hearing for approval of
the plan is set for Oct. 24.  The Company said there is a
"substantial possibility" of further delay.

                    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.


OTERO COUNTY: Posts $137,096 Net Loss From Aug. 16 to Aug. 31
-------------------------------------------------------------
Otero County Hospital Association, Inc. (d/b/a Gerald Champion
Regional Medical Center, d/b/a Mountain View Catering), filed on
Sept. 22, 2011, an amended standard monthly operating report
(business) for the period from Aug. 16, 2011, through Aug. 31,
2011.

Gerald Champion Regional Medical Center's Hospital & Physician
Income Statement showed a net loss of $137,096 on $4.3 million of
revenue for the period from Aug. 16, 2011, to Aug. 31, 2011.
These financial statements do not include an accrued liability for
defense and settlement of pending lawsuits and reorganization
costs under the Chapter 11 bankruptcy filed on Aug. 16, 2011.

Gerald Champion Regional Medical Center's Hospital and Balance
Sheet at Aug. 31, 2011, showed $147.8 million in total assets,
$53.3 million in total liabilities & deferred income, and total
equity of $94.5 million.

A copy of the monthly operating report for the period from
Aug. 16, 2011, through Aug. 31, 2011, is available for free at:

       http://bankrupt.com/misc/oterocounty.initialmor.pdf

                   About Otero County Hospital

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

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

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

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

In its schedules, the Debtor disclosed $124,186,104 in assets and
$40,506,759 in liabilities.


PALM HARBOR: Reports $2.4 Million Net Income in July 2011
---------------------------------------------------------
Palm Harbor Homes, Inc., et al., reported net income of
$2.4 million on total sales and revenues of $66.7 million for the
month ended July 31, 2011.

The Debtors' balance sheet at July 31, 2011, showed $42.9 million
in total assets, $87.8 million in total liabilities, and a
stockholders' deficit of $44.9 million.

A copy of the operating report is available at:

       http://bankrupt.com/misc/palmharbor.july2011mor.pdf

Palm Harbor Homes, Inc., et al., reported net income of
$3.3 million on total sales and revenues of $66.7 million for the
month ended June 30, 2011.

The Debtors' balance sheet at June 30, 2011, showed $43.6 million
in total assets, $87.5 million in total liabilities, and a
stockholders' deficit of $43.9 million.

A copy of the operating report is available for free at:

       http://bankrupt.com/misc/palmharbor.june2011mor.pdf

Palm Harbor Homes, Inc., et al., reported income of $4.1 million
on total sales and revenues of $66.7 million for the reporting
period May 23, 2011, and month ended July 31, 2011.

The Debtors' balance sheet at May 31, 2011, showed $48.0 million
in total assets, $91.2 million in total liabilities, and a
stockholders' deficit of $43.2 million.

A copy of the operating report is available at:

     http://bankrupt.com/misc/palmharbor.april23-may31mor.pdf

                       About Palm Harbor Homes

Addison, Texas-based Palm Harbor Homes, Inc. --
http://www.palmharbor.com/-- manufactured and marketed factory-
built homes.  The Company marketed nationwide through vertically
integrated operations, encompassing manufactured and modular
housing, financing and insurance.

Palm Harbor, along with affiliates, filed for Chapter 11
bankruptcy protection (Bankr. D. Del. Lead Case No. 10-13850) on
Nov. 29, 2010.  It disclosed $321,263,000 in total assets and
$280,343,000 in total debts.

Brian Cejka at Alvarez & Marsal is the Debtors' chief
restructuring officer.  Raymond James and Associates, Inc., is the
Debtors' investment banker.  Alvarez & Marshal North America, LLC,
is the Debtors' financial advisor.  BMC Group, Inc., is the
Debtors' claims agent.  Pachulski Stang Ziehl & Jones LLP serves
as counsel to the Official Committee of Unsecured Creditors.

Following a court-approved sale process, Palm Harbor in March 2011
sold its business for $85.25 million to Fleetwood Enterprises
Inc., a venture between Cavco Industries Inc. and a fund advised
by Third Avenue Management LLC.  Fleetwood is providing up to $55
million in secured financing for Palm Harbor's reorganization.


PFF BANCORP: Posts $35,864 Net Loss in August 2011
--------------------------------------------------
PFF Bancorp, Inc., Glencrest Investment Advisors, Inc., Glencrest
Insurance Services, Inc., Diversified Builder Services, Inc., and
PFF Real Estate Services, Inc., filed on Sept. 20, 2011, their
monthly operating reports for August 2011 with the United States
Bankruptcy Court for the District of Delaware.

PFF Bancorp reported a net loss of $35,863.97 for the period.

At July 31, 2011, PFF Bancorp had total assets of $57.6 million,
total liabilities of $162.8 million, and a stockholders' deficit
of $105.2 million.

A copy of the operating report is available for free at:

                       http://is.gd/34rgps

                        About PFF Bancorp

PFF Bancorp Inc. -- http://www.pffbank.com/-- was a non-
diversified unitary savings and loan holding company within the
meaning of the Home Owners' Loan Act with headquarters formerly
located in Rancho Cucamonga, California.  Bancorp is the direct
parent of each of the remaining Debtors.

Prior to filing for bankruptcy, Bancorp was also the direct parent
of PFF Bank & Trust, a federally chartered savings institution,
and said bank's subsidiaries.  PFF Bank & Trust was taken over by
regulators in November 2008, with the deposits transferred by the
Federal Deposit Insurance Corp. to U.S. Bank NA.

PFF Bancorp Inc. and its affiliates sought Chapter 11 protection
on Dec. 5, 2008 (Bankr. D. Del. Case No. 08-13127 to
08-13131).  Chun I. Jang, Esq., and Paul N. Heath, Esq., at
Richards, Layton & Finger, P.A., serve as the Debtors' bankruptcy
counsel.  Kurtzman Carson Consultants LLC serves as the Debtors'
claims agent.  Jason W. Salib, Esq., at Blank Rome LLP, represents
the official committee of unsecured creditors as counsel.


POINT BLANK: Turns Profit Thanks to 'Other Income'
--------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Point Blank Solutions Inc., trying to sell the
business a third time, filed an operating report for August
showing net income of $482,000 on net sales of $5.95 million.
August results for the manufacturer of soft body armor for police
and military would have been in the loss column were it not for a
$6 million item denominated as "other income."  The operating loss
in the month, before non-recurring expenses, was $1.7 million.

                        About Point Blank

Headquartered in Pompano Beach, Florida, Point Blank Solutions,
Inc. -- http://www.pointblanksolutionsinc.com/-- designs and
produces body armor systems for the U.S. Military, Government and
law enforcement agencies, as well as select international markets.
The Company maintains facilities in Pompano Beach, Florida, and
Jacksboro, Tennessee.

The Company's former chief executive officer and chief operating
officer were convicted in September 2010 of orchestrating a
$185 million fraud.

Point Blank Solutions, formerly DHB Industries, filed for
Chapter 11 protection (Bankr. D. Del. Case No. 10-11255) on
April 14, 2010.  Laura Davis Jones, Esq., Alan J. Kornfeld, Esq.,
David M. Bertenthal, Esq., and Timothy P. Cairns, Esq., at
Pachulski Stang Ziehl & Jones LLP, serve as bankruptcy counsel to
the Debtor.  Olshan Grundman Frome Rosenweig & Wolosky LLP serves
as corporate counsel.  T. Scott Avila of CRG Partners Group LLC is
the restructuring officer.  Epiq Bankruptcy Solutions serves as
claims and notice agent.

The U.S. Trustee has appointed an Official Committee of Unsecured
Creditors and a separate Official Committee of Equity Security
Holders in the case.  Ian Connor Bifferato, Esq., and Thomas F.
Driscoll III, Esq., at Bifferato LLC; and Carmen H. Lonstein,
Esq., Andrew P.R. McDermott, Esq., and Lawrence P. Vonckx, Esq.,
at Baker & McKenzie LLP, serve as counsel for the Official
Committee of Equity Security Holders.  Robert M. Hirsh, Esq., and
George P. Angelich, Esq., at Arent Fox LLP, serve as counsel to
the Creditors Committee, and Frederick B. Rosner, Esq., and
Brian L. Arban, Esq., at the Rosner Law Group LLC, serve as co
counsel.

Point Blank is proposing to sell the business for $20 million to
Barrier Acquisition LLC, an affiliate of the Gores Group LLC from
Boulder, Colorado, absent higher and better offers.  Point Blank
has been unable to reach agreement with the official equity
committee on a plan after the bankruptcy judge rejected the first
effort at selling the business out from underneath shareholders.


SEAHAWK DRILLING: Ends August 2011 With $9.3 Million Cash
---------------------------------------------------------
Seahawk Drilling, Inc., et al., reported loss from continuing
operations of $13.5 million on $0 revenues for the month ended
Aug. 31, 2011.

At Aug. 31, 2011, the Debtor had $109.9 million in total assets,
$430.8 million in total liabilities, and a stockholders' deficit
of $320.9 million.

The Debtor ended the period with $9.3 million cash, compared
with $111.3 million cash at the beginning of the period.  Payments
to restructuring professionals totaled $1.1 million for the month.
Payments to insiders totaled $265,038.

A complete text of the operating report is available for free at:

                       http://is.gd/duqwhG

                      About Seahawk Drilling

Houston, Texas-based Seahawk Drilling, Inc., engages in a jackup
rig business in the United States, Gulf of Mexico, and offshore
Mexico.  It offers rigs and drilling crews on a day rate
contractual basis.

The Company and several affiliates filed for Chapter 11 bankruptcy
protection (Bankr. S.D. Tex. Lead Case No. 11-20089) on Feb. 11,
2011.  Berry D. Spears, Esq., and Jonathan C. Bolton, Esq., at
Fullbright & Jaworkski L.L.P., in Houston, serve as the Debtors'
bankruptcy counsel.  Shelby A. Jordan, Esq., and Nathaniel Peter
Holzer, Esq. at Jordan, Hyden, Womble, Culbreth & Holzer, P.C., in
Corpus Christi, Texas, serve as the Debtors' co-counsel.  Alvarez
and Marsal North America, LLC, is the Debtors' restructuring
advisor.  Simmons & Company International is the Debtors'
transaction advisor.  Kurtzman Carson Consultants LLC is the
Debtors' claims agent.  Judy A. Robbins, U.S. Trustee for
Region 7, appointed three creditors to serve on an Official
Committee of Unsecured Creditors of Seahawk Drilling Inc. and its
debtor-affiliates.  Heller, Draper, Hayden, Patrick & Horn,
L.L.C., represents the creditors committee.

In its amended schedules, Seahawk Drilling disclosed $208,190,199
in assets and $438,458,460 in liabilities as of the petition date.

Seahawk filed for Chapter 11 protection to complete the sale of
all assets to Hercules Offshore, Inc.  As reported by the Troubled
Company Reporter on April 11, 2011, the Bankruptcy Court approved
an Asset Purchase Agreement between Hercules Offshore and its
wholly owned subsidiary, SD Drilling LLC, and Seahawk Drilling,
pursuant to which Seahawk agreed to sell to Hercules, and Hercules
agreed to acquire from Seahawk, all 20 of Sellers' jackup rigs and
related assets, accounts receivable and cash and certain
liabilities of Sellers in a transaction pursuant to Section 363 of
the U.S. Bankruptcy Code.  The deal was valued at about $176
million when it received court approval.

The purchase price for the acquisition will be funded by the
issuance of roughly 22.3 million shares of Hercules Offshore
common stock and cash consideration of $25 million, which will be
used primarily to pay off Seahawk's Debtor-in-Possession
loan.  The number of shares of Hercules Offshore common stock to
be issued will be proportionally reduced at closing, based on a
fixed price of $3.36 per share, if the outstanding amount of the
DIP loan exceeds $25 million, with the total cash consideration
not to exceed $45 million.  The deal closed on April 27, 2011.

On Sept. 28, 2011, the U.S. Bankruptcy Court for the Southern
District of Texas confirmed the Debtors' First Amended Joint Plan
of Reorganization, filed July 6, 2011, as further modified and
supplemented through Sept. 27, 2011.


TRIBUNE CO: Reports $9,568,000 Profit in August
-----------------------------------------------

                       Tribune Company, et al.
                 Condensed Combined Balance Sheet
                      As of August 28, 2011

ASSETS
Current Assets:
  Cash and cash equivalents                     $1,232,793,000
  Accounts receivable, net                         441,786,000
  Inventories                                       21,883,000
  Broadcast rights                                 133,481,000
  Prepaid expenses and other                       215,893,000
                                            ------------------
Total current assets                             2,045,836,000

Property, plant and equipment, net                 927,129,000

Other Assets:
  Broadcast rights                                  64,458,000
  Goodwill & other intangible assets, net          779,369,000
  Prepaid pension costs                              2,332,000
  Investments in non-debtor units                1,525,681,000
  Other investments                                 41,579,000
  Intercompany receivables from non-debtors      3,081,024,000
  Restricted cash                                  727,438,000
  Other                                             74,321,000
                                            ------------------
Total Assets                                    $9,269,167,000
                                            ==================

LIABILITIES & SHAREHOLDERS' EQUITY (DEFICIT)

Current Liabilities:
  Current portion of broadcast rights              $77,157,000
  Current portion of long-term debt                  2,187,000
  Accounts payable, accrued expenses, and other    417,371,000
                                            ------------------
Total current liabilities                          496,715,000

Pension obligations                                215,989,000
Long-term broadcast rights                          45,718,000
Long-term debt                                       5,135,000
Other obligations                                  157,575,000
                                            ------------------
Total Liabilities                                  921,132,000

Liabilities Subject to Compromise:
  Intercompany payables to non-debtors           3,459,117,000
  Obligations to third parties                  13,055,876,000
                                            ------------------
Total Liabilities Subject to Compromise         16,514,993,000

Shareholders' Equity (Deficit)                  (8,166,958,000)
                                            ------------------
Total Liabilities & Shareholders'
Equity(Deficit)                               ($9,269,167,000)
                                            ==================

                        Tribune Company, et al.
             Condensed Combined Statement of Operations
              For the Period From August 1, to 28, 2011

Total Revenue                                     $220,972,000

Operating Expenses:
  Cost of sales                                    122,908,000
  Selling, general and administrative               67,281,000
  Depreciation                                      10,272,000
  Amortization of intangible assets                  1,316,000
                                            ------------------
Total operating expenses                           201,777,000
                                            ------------------
Operating Profit (Loss)                             19,195,000
                                            ------------------
Income (loss) on equity investments, net
Income on equity investments, net                      521,000
Interest expense, net                               (3,361,000)
Management fee                                      (1,406,000)
Non-operating income (loss), net                             -
                                            ------------------
Income (loss) before income taxes & Reorg. Costs    14,949,000
Reorganization costs                                (4,721,000)
                                            ------------------
Income (loss) before income taxes                   10,228,000
Income taxes                                          (660,000)
                                            ------------------
Income (loss) from continuing operations             9,568,000
Income from discontinued operations, net of tax              0
                                            ------------------
Net Income (Loss)                                   $9,568,000
                                            ==================

                    Tribune Company, et al.
           Combined Schedule of Operating Cash Flow
           For the Period From August 1 to 28, 2011

Beginning Cash Balance                          $1,928,761,000

Cash Receipts:
  Operating receipts                               223,540,000
  Other                                                848,000
                                            ------------------
Total Cash Receipts                                224,388,000

Cash Disbursements
  Compensation and benefits                         74,097,000
  General disbursements                            128,148,000
  Reorganization related disbursements               3,152,000
                                            ------------------
Total Disbursements                                205,398,000
                                            ------------------
Debtors' Net Cash Flow                              18,990,000
                                            ------------------
From/(To) Non-Debtors                                2,492,000
                                            ------------------
Net Cash Flow                                       21,483,000
Other                                                2,551,000
                                            ------------------
Ending Available Cash Balance                   $1,952,794,000
                                            ==================

                         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.

Two competing Chapter 11 plans are being pursued in the Chapter 11
cases of Tribune.  One plan is being co-proposed by the Debtors,
the Official Committee of Unsecured Creditors, Oaktree Capital
Management, L.P., Angelo Gordon & Co., L.P. and JPMorgan Chase
Bank, N.A.  A second plan is being pursued by Aurelius Capital
Management LP, on behalf of its managed entities; Deutsche Bank
Trust Company Americas, in its capacity as successor indenture
trustee for certain series of senior notes; Law Debenture Trust
Company of New York, in its capacity as successor indenture
trustee for certain series of senior notes; and Wilmington Trust
Company, in its capacity as successor indenture for the PHONES
Notes.  Judge Kevin J. Carey has not issued a ruling on the plan.

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)


VITRO SAB: Vitro America Ends August 2011 With $9.4 Million Cash
----------------------------------------------------------------
On Sept. 20, 2011, Vitro America, LLC, Vitro Finance Corporation,
VVP Holdings, LLC, and VVP Funding Corporation filed their
monthly operating reports for the month ending Aug. 31, 2011, with
the U.S. Bankruptcy Court for the Northern District of Texas.

Vitro America reported a net loss of $1.0 million on $nil revenue
for the month.

At Aug. 31, 2011, Vitro America had $20.5 million in total
assets, $255.8 million in total liabilities, and a stockholders'
deficit of $235.3 million.  Vitro America ended the period with
$9,417,971 in unrestricted cash and $1,500 in restricted cash,
for total cash of $9,419,471.

A copy of Vitro America's August 2011 monthly operating report is
available for free at:

     http://bankrupt.com/misc/vitoramerica.august2011mor.pdf

Vitro Finance had no income or expense transactions for the month.

At Aug. 31, 2011, Vitro Finance had $176.1 million in total
assets, $645,764 in total liabilities, and stockholders' equity of
$175.4 million.

A copy of Vitro Finance's August 2011 monthly operating report is
available at:

     http://bankrupt.com/misc/vitrofinance.august2011mor.pdf

VVP Holdings had no income or expense transactions for the month.

VVP Holdings' balance sheet at Aug. 31, 2011, showed $645,764 in
total assets, $12.6 million in total liabilities, and an equity
deficit of $12.0 million.

A copy of VVP Holdings' August 2011 monthly operating report is
available for free at:

      http://bankrupt.com/misc/vvpholdings.august2011mor.pdf

VVP Funding had no income or expense transactions for the month.

At Aug. 31, 2011, VVP Funding had $3.1 million in total assets,
$0 liabilities, and stockholders' equity of $3.1 million.

A copy of VVP Funding's August 2011 monthly operating report is
available for free at:

      http://bankrupt.com/misc/vvpfunding.august2011mor.pdf

                       About Vitro SAB

Headquartered in Monterrey, Mexico, Vitro, S.A.B. de C.V. (BMV:
VITROA; NYSE: VTO), through its two subsidiaries, Vitro Envases
Norteamerica, SA de C.V. and Vimexico, S.A. de C.V., is a global
glass producer, serving the construction and automotive glass
markets and glass containers needs of the food, beverage, wine,
liquor, cosmetics and pharmaceutical industries.

Vitro is the largest manufacturer of glass containers and flat
glass in Mexico, with consolidated net sales in 2009 of MXN23,991
million (US$1.837 billion).

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

           Concurso Mercantil & Chapter 15 Proceedings

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

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

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

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

                     Chapter 11 Proceedings

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

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

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

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

A bankruptcy judge in Fort Worth, Texas, denied involuntary
Chapter 11 petitions filed against four U.S. subsidiaries.  On
April 6, 2011, Vitro SAB agreed to put Vitro units -- Vitro
America LLC and three other U.S. subsidiaries -- that were subject
to the involuntary petitions into voluntary Chapter 11.  The Texas
Court on April 21 denied involuntary petitions against the eight
U.S. subsidiaries that didn't consent to being in Chapter 11.

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

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


WASHINGTON MUTUAL: Ends August 2011 With $4.49 Billion Cash
-----------------------------------------------------------
On Sept. 30, 2011, Washington Mutual, Inc., and WMI Investment
Corp. filed their monthly operating report for August 2011 with
the United States Bankruptcy Court for the District of Delaware.

Washington Mutual reported a net loss of $8.4 million for the
period.

At Aug. 31, 2011, Washington Mutual had $6.723 billion in total
assets, $8.403 billion in total liabilities, and a shareholders'
deficit of $1.680 billion.  Washington Mutual ended August 2011
with $4.494 billion in unrestricted cash and cash equivalents.

Washington Mutual paid a total of $2.8 million in professional
fees and reimbursed a total of $777,506.87 million in professional
expenses in August.

WMI Investment reported a net loss of $29,347 for the month of
August.

At Aug. 31, 2011, WMI Investment had $913,708,388 in total
assets, $14,825 in post-petition liabilities, and a stockholders'
equity of $913,693,563.  WMI Investment ended July 2011 with
$276,499,081 in unrestricted cash and cash equivalents.

A complete text of the operating report is available for free at:

                       http://is.gd/qFngl5

                            About WaMu

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.


                           *********

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, Philline Reluya, 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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