TCR_Public/111122.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

           Tuesday, November 22, 2011, Vol. 15, No. 324

                            Headlines

119 WEBSTER: Voluntary Chapter 11 Case Summary
785 PARTNERS: First Manhattan Wants Exclusivity Terminated
1321 MEMORIAL: Voluntary Chapter 11 Case Summary
AE BIOFUELS: Unit Amends Note Purchase Agreement with Third Eye
AE BIOFUELS: Changes Company Name to Aemetis

AHKH LLC: Places Quality Inn Motel in Bankruptcy
AMERICAS ENERGY: Incurs $1 Million Net Loss in Sept. 30 Quarter
AMT LLC: Bank Wants Case Dismissed on 'Bad Faith' Filing
AQUILEX HOLDINGS: Secures $15 Million in Incremental Financing
AR BROADCASTING: Cumulus Media Units File for Chapter 11

AVSTAR AVIATION: Delays Filing of Form 10-Q for Sept. 30 Qtr.
B GREEN INNOVATIONS: Incurs $54,727 Net Loss in Third Quarter
BALLY TOTAL: Sells 171 Outlets to L.A. Fitness
BANK OF AMERICA: Regulators Warn of Public Enforcement Action
BEACH AVENUE: Voluntary Chapter 11 Case Summary

BEACON POWER: To Sell Stephentown Flywheel Plant by January
BEACON POWER: Gov't to Get Lien on Assets to Fix Sale Dispute
BEACON POWER: Writes Down Value of Stephentown Energy Plant
BEAZER HOMES: Incurs $204.8 Million Net Loss in Fiscal 2011
BERNARD L. MADOFF: Jewish Assoc. Seeks District Review of Suit

BIOFUELS POWER: Delays Filing of Form 10-Q for 3rd Quarter
BIOZONE PHARMACEUTICALS: Delays Filing of Quarterly Report
BLITZ USA: Gets Interim OK to Pay $1.3MM Critical Vendors Claim
BONDS.COM GROUP: Delays Filing of Form 10-Q for Sept. 30 Quarter
BRAD & SONS: Voluntary Chapter 11 Case Summary

BRAY & JAMISON: Anloc Creditors Want Ch. 11 Trustee to Take Over
BRIGHAM EXPLORATION: Faces "Hoppe" Complaint Over Merger Pact
BRIGHAM EXPLORATION: Faces "Thompson" Complaint Over Merger Pact
BROWNSTONE LOFTS: Automatic Stay Doesn't Apply in Oakland Property
BROWNSTONE LOFTS: Files Schedules of Assets and Liabilities

BROWNSTONE LOFTS: Wants Unit's Case Transferred to Judge Montali
CABI SMA: Deadline for Amended Plan Disclosures Today
CALYPTE BIOMEDICAL: Delays Filing of Form 10-Q for 3rd Quarter
CANO PETROLEUM: Delays Filing of Form 10-Q for Sept. 30 Quarter
CAPITOL CITY: Incurs $1.4 Million Net Loss in Third Quarter

CAPITOL CITY: Amends 5 Million Common Shares Offering
CARESTREAM HEALTH: Bank Debt Trades at 11% Off in Secondary Market
CARTER'S GROVE: Court to Hold Plan Hearings Feb. 28 to 29
CATALYST PAPER: Incurs $205.7 Million Net Loss in Third Quarter
CATALYST PAPER: Incurs C$205.7 Million Net Loss in Third Quarter

CCB INVESTORS: U.S. Trustee Unable to Form Committee
CELL THERAPEUTICS: Four Directors Elected at Annual Meeting
CENTRAL FEDERAL: Amends Form S-1 Registration Statement
CENTRAL PROGRESSIVE: Closed; First NBC Bank Assumes All Deposits
CHEYENNE INDUSTRIAL: Case Summary & 4 Largest Unsecured Creditors

CHINA GREEN: Incurs $21,363 Net Loss in Third Quarter
CIRTRAN CORP: Delays Filing of Third Quarter Form 10-Q
CITY NATIONAL: Delays Filing of Third Quarter Form 10-Q
CLAIRE'S STORES: Bank Debt Trades at 14% Off in Secondary Market
CLEAN BURN: Taps Neal Bradsher to Prepare and File 2011 Tax Return

CLEAR CHANNEL: Bank Debt Trades at 23% Off in Secondary Market
CLOCK TOWER: Case Summary & 7 Largest Unsecured Creditors
COMMERCIAL VEHICLE: Arnold Siemer Appointed to Board of Directors
COMMUNITY TOWERS: Files Schedules of Assets and Liabilities
CONQUEST PETROLEUM: Financial Trouble Causes Delay in Q3 Filing

CORDIA COMMUNICATIONS: Notifies Court of Change of Mailing Address
CROSS BORDER: Board Adopts Amendment to Company's Bylaws
CRYSTAL CATHEDRAL: Will Sell Property to Diocese for $57.7 Million
CUI GLOBAL: Posts $424,323 Consolidated Net Profit in Q3
CULLIGAN INT'L: Bank Debt Trades at 30% Off in Secondary Market

CUMULUS MEDIA: AR Broadcasting Affiliates in Chapter 11
CYBEX INTERNATIONAL: Nasdaq Grants Request for Continued Listing
D&R PRINTING: Case Summary & 4 Largest Unsecured Creditors
DADDY'S JUNKY: To File for Bankruptcy After Closing All 12 Outlets
DALLAS STARS: Get Approval to Sell Hockey Team to Gaglardi

DALLAS STARS: Plan Confirmation Hearing Wednesday
DEGAETANO CONCRETE: Case Summary & 19 Largest Unsecured Creditors
DIABETES AMERICA: Wants Plan Confirmation Hearing Reset to Dec. 5
DIABETES AMERICA: Court Approves Porter Hedges as New Counsel
DIAMOND RANCH: Incurs $126,990 Net Loss in Third Quarter

DOG SOLUTIONS: Files for Chapter 11 Bankruptcy Protection
DZF PROPERTIES: Case Summary & Largest Unsecured Creditor
EASTMAN KODAK: Soliciting Offers for Kodak Gallery
ELEPHANT & CASTLE: Court Sets Dec. 15, 2011 as Claims Bar Date
EMMIS COMMUNICATIONS: Buys 645,504 Preferred Shares

EMMIS COMMUNICATIONS: Joseph Siegelbaum Resigns from Board
ENCORIUM GROUP: Delays Filing of Sept. 30 Quarter Form 10-Q
ENER1 INC: Aspire Terminates Common Stock Purchase Agreement
ENERGY COMPOSITES: Delays Filing of Form 10-Q for Sept. 30 Qtr.
EPAZZ INC: Delays Filing of 3rd Quarter Form 10-Q

EVERGREEN SOLAR: Court Sets Dec. 30, 2011 as Claims Bar Date
EVERGREEN SOLAR: Inks First Amendment to Support Agreement
FANNIE MAE: Bans Baum Law Firm From New Foreclosures
FENTURA FINANCIAL: Incurs $700,000 Third Quarter Net Loss
FIDDLERS CREEK: Region Bank Wants Property Conveyance Completed

FREDDIE MAC: Bans Baum Law Firm From New Foreclosures
FUSION TELECOMMUNICATIONS: Incurs $1-Mil. 3rd Qtr. Net Loss
GENERAL MARITIME: Wins Interim Access of $30MM From DIP Loans
GENMED HOLDING: Delays Filing of 3rd Quarter Form 10-Q
GIORDANO'S ENTERPRISES: Court OKs Sale to VPC Pizza Holdings

GLEN ROSE: Posts $1.2 Million Net Income in June 30 Quarter
GLOBAL SHIP: Incurs $935,000 Net Loss in Third Quarter
GMX RESOURCES: To Swap 11.375% Sr. Notes for 11.00% Sr. Notes
GOMERA GOVI: Case Summary & 20 Largest Unsecured Creditors
GRACEWAY PHARMACEUTICALS: Hearing Today to Approve Medicis Sale

GREAT ATLANTIC: Oppenheimer Analysts Lift EPS Estimates
GREENSHIFT CORP: Delays Filing of Third Quarter Form 10-Q
GUITAR CENTER: Incurs $27.4 Million Net Loss in Third Quarter
HANMI FINANCIAL: To Sell 87.5-Mil. Common Shares at $0.80 Apiece
HARRISBURG, PA: PCEDD Chief Counsel Named as Receiver

HAWKER BEECHCRAFT: Reduction Program Affects 300 Employees
HERITAGE CONSOLIDATED: Has Deal for Cash Access Until Nov. 30
HERITAGE CONSOLIDATED: Informs Parties of Mailing Address Change
HMC/CAH CONSOLIDATED: Panel Taps Kilpatrick Townsend as Counsel
HMC/CAH CONSOLIDATED: Court Rules Patient Care Umpire Not Needed

HOMELAND SECURITY: Delays Filing Form 10-Q for Sept 30 Qtr.
HUNTER HELICOPTERS: Case Summary & 2 Largest Unsecured Creditors
HUSSEY COPPER: Files Schedules of Assets and Liabilities
HUSSEY COPPER: Court Okays Klehr as Committee Counsel
HUSSEY COPPER: Court OKs Lowenstein Sandler as Committee's Counsel

IMPERIAL CAPITAL: Court Sets Dec. 20 Disclosure Statement Hearing
INTERNATIONAL TEXTILE: Incurs $14.5 Million 3rd Quarter Net Loss
IVEDCO LLC: Case Summary & 20 Largest Unsecured Creditors
KAD INCORPORATED: Case Summary & 15 Largest Unsecured Creditors
LAS VEGAS MONORAIL: Judge Markell Rejects Chapter 11 Exit Plan

LEHR CONSTRUCTION: Ch. 11 Trustee Hires Glanstein as Counsel
LITHIUM TECHNOLOGY: Delays Filing of 3rd Quarter Form 10-Q
LITTLETON APARTMENTS: Court Denies Request for Case Dismissal
LITTLETON APARTMENTS: Neligan Foley OK'd to Handle Chapter 11 Case
LITTLETON APARTMENTS: Wins Court OK to Hire Apartment Realty

LOS GATOS: Plaintiffs Say Hotel May be Lost to Foreclosure
LSL INVESTMENTS: Voluntary Chapter 11 Case Summary
LTS NUTRACEUTICALS: Incurs $1.1 Million Net Loss in 3rd Quarter
MAGUIRE GROUP: May Pursue Claims vs. Former Owners
MANISTIQUE PAPERS: Committee Hires J.H. Cohn as Financial Advisors

MAQ MANAGEMENT: Wants Plan Exclusivity Extended Until April 10
MAYSVILLE INC: Can Hire Scott Allan Orth as Counsel
MERCANTILE BANCORP: Incurs $10.2 Million Net Loss in 3rd Quarter
MERCED FALLS: Pearson Realty Approved as Real Estate Broker
MF GLOBAL: Robbins Geller Files Class Action Suit Against Officers

MICHAEL MAZZEO: Owes $10.4-Mil. to Signature Bank
MONEYGRAM INT'L: Thomas Lee Discloses 55% Equity Stake
MONEYGRAM INT'L: Silver Point Discloses 1.6% Equity Stake
MONEYGRAM INT'L: Inks Fifth Supplemental Indenture with Worldwide
MONEYGRAM INT'L: Goldman Sachs Discloses 30.3% Equity Stake

MONTANA ELECTRIC: Co-op Board Open to Chapter 7 Liquidation
MONTANA ELECTRIC: Members Vote to Roll Back 20% Rate Hike
MRS. FIELDS: Is Near Deal to Refinance With Creditors
NEBRASKA BOOK: Posts $91.7-Mil. Net Loss in Sept. 30 Quarter
NEUROLOGIX INC: Delays Filing of Form 10-Q for Sept. 30 Qtr.

NEWPAGE CORP: Committee Taps Moelis & Company as Investment Banker
NO FEAR: Court OKs RSM McGladrey as Accountant
NORTHWEST PARTNERS: Case Summary & 20 Largest Unsecured Creditors
OPEN RANGE: FTI Consulting OK'd to Provide Restructuring Officers
OPEN RANGE: Court Approves Employment of Cole Schotz as Counsel

OPEN SOLUTIONS: Bank Debt Trades at 14% Off in Secondary Market
OPTI CANADA: Minister of Industry OKs Proposed CNOOC Acquisition
OPTIONS MEDIA: Reports $710,000 Net Income in Third Quarter
OVERLAND STORAGE: Incurs $5.3 Million Net Loss in Sept. 30 Qtr.
OVERLAND STORAGE: Files Form S-8; Registers 3.8MM Common Shares

OXYSURE SYSTEMS: Delays of Form 10-Q for Sept. 30 Quarter
OXYSURE SYSTEMS: Reaches Pacts to Modify Maturities of Notes
PACIFIC AVENUE: Blue Air 2010 Files Bankruptcy Plan
PAVILION PROPERTIES: Voluntary Chapter 11 Case Summary
PLAINFIELD BUSINESS: Case Summary & 20 Largest Unsecured Creditors

POOLS AND SPAS: Files for Chapter 11 Bankruptcy Protection
POWER BALANCE: Class Suits Force Wristband Maker Into Bankruptcy
POWER BALANCE: Case Summary & 21 Largest Unsecured Creditors
RAY WILLIAMS: Case Summary & 20 Largest Unsecured Creditors
SARGENT RANCH: Case Summary & 14 Largest Unsecured Creditors

SBARRO INC: Judge Confirms First Amended Chapter 11 Plan
TERRESTAR CORP: Challenges $25.5-Mil. in Elektrobit Claims
TEUFEL NURSERY: Creditors Get 100% Recovery
TOWNS REAL: Voluntary Chapter 11 Case Summary
WEST END FINANCIAL: Founder Landberg Pleads Guilty to Fraud

WILLIAM LYON: Luxor Set to Take Control of Restructuring

* 11th Circuit Writes Ponzi Opinion Helpful for Madoff Trustee

* Large Companies With Insolvent Balance Sheets

                            *********

119 WEBSTER: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: 119 Webster LLC
        119 Webster Avenue
        Brooklyn, NY 11230

Bankruptcy Case No.: 11-49652

Chapter 11 Petition Date: November 16, 2011

Court: United States Bankruptcy Court
       Eastern District of New York (Brooklyn)

Judge: Elizabeth S. Stong

Debtor's Counsel: Jonathan S. Pasternak, Esq.
                  RATTET PASTERNAK, LLP
                  550 Mamaroneck Avenue, Suite 510
                  Harrison, NY 10528
                  Tel: (914) 381-7400
                  Fax: (914) 381-7406
                  E-mail: jsp@rattetlaw.com

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

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

The Debtor did not file a list of its largest unsecured creditors
together with its petition.

The petition was signed by Solomon Labin, member.


785 PARTNERS: First Manhattan Wants Exclusivity Terminated
----------------------------------------------------------
The Bankruptcy Court held a hearing Nov. 17 on the request of
First Manhattan Developments REIT for the entry of an order (a)
terminating 785 Partners LLC's exclusive period within which to
solicit acceptances of its Amended Plan of Reorganization Pursuant
to Chapter 11 of the Bankruptcy Code, dated October 31, 2011,
pursuant to 11 U.S.C. Section 1121(d), (b) requiring the Debtor to
commence adequate protection payments to First Manhattan pursuant
to Bankruptcy Code Sec. 363(e), and (c) granting First Manhattan
such further relief as the Court deems proper.

                      About 785 Partners LLC

785 Partners LLC owns a 42-story building on 785 Eighth Avenue,
New York.  The developer intended to sell 122 condominium units,
but it failed to obtain the requisite condominium approvals from
the New York State Attorney General.

The Debtor is owned 98.75% by 8 Avenue and 48th Street Development
LLC.  The remaining membership interests in the Debtor are held by
Esplanade Tower Corporation -- the Debtor's managing member, the
holder of a 1% membership interest, and a wholly-owned subsidiary
of 8 Avenue -- and Esplanade 8th Avenue LLC -- holder of a passive
0.25% membership interest.

The Company obtained $84 million of secured financing in January
2007 from PB Capital Corporation, and TD Bank, N.A.  First
Manhattan later bought the secured claim and says the claim has
risen to $101 million, which is higher than the market value of
the property.

785 Partners LLC filed a Chapter 11 petition (Bankr. S.D.N.Y. Case
No. 11-13702) on Aug. 3, 2011.  Sheldon I. Hirshon, Esq., Craig A.
Damast, Esq., and Lawrence S. Elbaum, Esq., at Proskauer Rose LLP,
in New York, represent the Debtor as counsel.  In its schedules,
the Debtor disclosed $106,000,000 in assets and $95,467,612 in
liabilities, all secured.

Weitzman Group Inc. serves as real estate and financial
consultant.

785 Partners filed an amended plan and disclosure statement.
Under the Plan, the Debtor will continue to exist as a separate
entity, with 8 Avenue as initial managing member.  The claims of
First Manhattan is impaired under the Plan.  Holders of Class 7
Allowed General Unsecured Claims will be paid in full, in Cash.
All Class 8 Old Membership Interests will be canceled and
extinguished.  8 Avenue will receive 63.75% of the New Membership
Interests, Tower will receive 1.00% of the New Membership
Interests, and Esplanade will receive 0.25% of the New Membership
Interests.  A copy of the Disclosure Statement is available for
free at http://bankrupt.com/misc/785partners.dkt71.pdf

Attorneys for First Manhattan Developments REIT are:

          Gerard R. Luckman, Esq.
          Jay S. Hellman, Esq.
          SILVERMANACAMPORA LLP
          100 Jericho Quadrangle, Suite 300
          Jericho, NY 11753
          Tel: (516) 479-6300
          E-mail: GLuckman@SilvermanAcampora.com
                  JHellman@SilvermanAcampora.com

               - and -

          Thomas P. Battistoni, Esq.
          Louis T. DeLucia, Esq.
          SCHIFF HARDIN, LLP
          666 Fifth Avenue, 17th Floor
          New York, NY 10103
          Tel: (212) 753-5000
          E-mail: ldelucia@schiffhardin.com
                  tbattistoni@schiffhardin.com


1321 MEMORIAL: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: 1321 Memorial Drive Investment Corp.
        1321 Memorial Drive
        Asbury Park, NJ 07712

Bankruptcy Case No.: 11-43296

Chapter 11 Petition Date: November 17, 2011

Court: United States Bankruptcy Court
       District of New Jersey (Trenton)

Judge: Raymond T. Lyons Jr.

Debtor's Counsel: Jules L. Rossi, Esq.
                  LAW OFFICE OF JULES L. ROSSI
                  208 Main Street
                  Asbury Park, NJ 07712
                  Tel: (732) 774-5520
                  Fax: (732) 744-5870
                  E-mail: jlrbk423@aol.com

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

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

The Debtor did not file a list of its largest unsecured creditors
together with its petition.

The petition was signed by William Gallagher, president.


AE BIOFUELS: Unit Amends Note Purchase Agreement with Third Eye
---------------------------------------------------------------
AE Advanced Fuels Keyes, Inc., a subsidiary of AE Biofuels, Inc.,
entered into a Limited Waiver and Amendment No. 4 to the Note
Purchase Agreement with Third Eye Capital Corporation.  Pursuant
to the Fourth Amendment, AE Keyes agreed to pay Agent a Minimum
Monthly Base Principal Payment equal to the greater of:

   (i) weekly installments of $50,000 with the first installment
       due on Friday, Nov. 4, 2011;

  (ii) a monthly payment of $0.05 per gallon of ethanol produced
       from its Keyes Plant; and

(iii) 50% of its monthly Free Cash Flow as defined in the Fourth
       Amendment.

In addition, AE Keyes is required to (i) maintain minimum Free
Cash Flow of $600,000 per fiscal quarter (ii) maintain a minimum
quarterly ethanol production amount of not less than 14 million
gallons per fiscal quarter, and (iii) limit-capital expenditures
to no more than $50,000 per fiscal quarter.

In return for a fee of $25,000 paid in cash and the issuance of
932,000 shares of common stock of AE Biofuels, Inc., and other
consideration described therein, Agent waived certain covenant
violations for the period ending Sept. 30, 2011, and  extended the
maturity date of the Note Purchase Agreement until April 18, 2012,
with an automatic six month extension for an additional extension
fee to be determined by AE Keyes and Agent so long as no payment
obligations defaults have occurred and are continuing and the
outstanding principal and interest of the Notes does not exceed
$5,000,000.  As of the effective date of the Third Amendment, the
principal balance and all accrued and unpaid interest and fees
outstanding on the Note was $6,471,233 and the accrued and unpaid
Revenue Participation was $3,177,167.

A full-text copy of the Limited Waiver and Amendment No.4 to Note
Purchase Agreement is available for free at http://is.gd/0jAMeO

                         About AE Biofuels

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

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

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

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


AE BIOFUELS: Changes Company Name to Aemetis
--------------------------------------------
AE Biofuels, Inc.'s shareholders have approved a change of name of
the corporation from AE Biofuels, Inc., to Aemetis, Inc.  As of
Nov. 15, 2011, the stock symbol of Aemetis will be OTC: AMTX.

In June 2011, AE Biofuels acquired Zymetis, Inc., a Maryland
industrial biotechnology company.  The name Aemetis was derived
from "AE" which means "The One" in Scottish, and "Metis" which
means "Prudent Wisdom" in Greek.

"Aemetis" means "The One Prudent Wisdom," referring to the
prudence and wisdom of replacing petroleum with renewable sources
of chemicals and fuels.

The Aemetis Biorefinery technology platform is based on a unique
patented aerobic marine organism (the "Z-microbe") and propagation
process that enables Aemetis to produce a variety of specialty
biochemical and renewable fuels products for large markets using
renewable feedstocks.  Aemetis holds 4 granted patents and 14
pending patents on its microbial and enzymatic technology and
production processes.  Aemetis currently operates a 55 million
gallon per year ethanol plant in Keyes, California and a 50
million gallon capacity biofuels plant in India.

"Our scientists and operations teams at Aemetis are focused on the
development and commercialization of innovative industrial
biotechnologies that produce advanced chemical and renewable fuel
substitutes for traditional petroleum-based chemicals and fuels,"
stated Eric McAfee, Chairman and CEO of Aemetis.  "By expanding
existing first-generation biofuels plants to produce high-margin
chemicals and advanced fuels, our technology platform helps
biofuels companies increase their operating margins, decrease
margin volatility, and diversify feedstocks and products."

                         About AE Biofuels

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

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

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

The Company's balance sheet at Sept. 30, 2010, showed $20.23
million in total assets, $29.03 million in total liabilities, all
current, and a stockholders' deficit of $8.80 million.
The Company has not filed financial reports after filing its Form
10-Q for the quarter ended Sept. 30, 2010.


AHKH LLC: Places Quality Inn Motel in Bankruptcy
------------------------------------------------
Chris Bagley at Triangle Business Journal reports that Quality Inn
filed for Chapter 11 bankruptcy reorganization, with the owner
saying its revenue stream has narrowed in the wake of a
rebranding.

According to the report, majority owner Harish Gihwala said
InterContinental Hotels Group terminated its agreement with the
motel a year ahead of schedule.  The motel then affiliated with
Choice Hotels International and took its Quality Inn brand.  Its
revenue plummeted and hasn't recovered, Mr. Gihwala said.

The report relates that Mr. Gihwala said he aims to restructure
the company's finances and exit bankruptcy in about six months.

The report says the corporate entity behind the motel, AHKH LLC,
owes $1.78 million on a mortgage from Zions First National Bank of
Utah, according to Gihwala and the bankruptcy filing.  An
unsecured, second mortgage from the Neuse River Redevelopment
Authority Inc., is valued at $1.1 million in the Chapter 11
filing.  AHKH's primary asset is the motel building, which was
recently appraised at $1.97 million, according to Mr. Gihwala.
The filing lists other liabilities totaling $123,000, including
$1,300 in taxes owed to Wake County.

AHKH LLC owns the Quality Inn motel at New Bern Avenue, in
Raleigh, North Carolina.  AHKH filed for Chapter 11 bankruptcy
(Bankr. E.D.N.C. Case No. 11-08674) on Nov. 14, 2011.  Judge Randy
D. Doub presides over the case.  Travis Sasser, Esq. --
tsasser@carybankruptcy.com -- at Sasser Law Firm, serves as the
Debtor's counsel.  In itspetition, the Debtor estimated $1 million
to $10 million in assets and debts.  The petition was signed by
Harish Gihwala, manager.


AMERICAS ENERGY: Incurs $1 Million Net Loss in Sept. 30 Quarter
---------------------------------------------------------------
Americas Energy Company filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $1.06 million on $114,804 of total revenues for the
three months ended Sept. 30, 2011, compared with net income of
$10.09 million on $2.14 million of total revenues for the same
period a year ago.

The Company reported a net loss of $1.27 million on $6.83 million
of total revenues for the fiscal year ended March 31, 2011,
compared with a net loss of $9.72 million on $3.57 million of
total revenues for the period from July 13, 2009, through March
31, 2010.

The Company also reported a net loss of $8.79 million on $256,706
of total revenues for the six months ended Sept. 30, 2011,
compared with net income of $5.97 million on $5.77 million of
total revenues for the same period during the prior year.

The Company's balance sheet at Sept. 30, 2011, showed
$25.36 million in total assets, $17.68 million in total
liabilities and $7.68 million in total stockholders' equity.

Weaver & Martin, LLC, in Kansas City, Mo., expressed substantial
doubt about Americas Energy's ability to continue as a going
concern for the second year in a row.  Weaver & Martin said the
Company has suffered recurring losses and had negative cash flows
from operations that raise substantial doubt about the Company's
ability to continue as a going concern.

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

                        http://is.gd/7hEFu4

                       About Americas Energy

Knoxville, Tenn.-based Americas Energy Company-AECo currently
operates surface mines in southeastern Kentucky.  In March 2010,
the Company acquired Evans Coal Corp. for $7,000,000 in cash, a
$25,000,000 promissory note and a 2% overriding royalty on all
coal sales generated from the properties acquired from Evans.
Evans owns or controls by lease mineral rights and currently
operates by use of contractors, two surface mines in Bell County
and one in Knox County, Kentucky.  In addition, the Company has
rights to oil properties located in Cumberland County, Kentucky
that are intended for future development.


AMT LLC: Bank Wants Case Dismissed on 'Bad Faith' Filing
--------------------------------------------------------
Secured creditor and party-in-interest Jefferson Bank and Trust
Company asks the U.S. Bankruptcy Court for the Northern District
of Florida to dismiss the Chapter 11 case of AMT, LLC, or dismiss
the case to one under Chapter 7 of the Bankruptcy Code.

According to Jefferson Bank, the Sept. 26 closing of loan with
Omega Commercial Finance Corporation did not materialize as
contemplated in the proposed Plan.  The loan was intended to pay
all the creditors in full, and to fund the Debtor's Plan of
Reorganization.  The Debtor has not made, and has no ability to
make, the interest payments of approximately $33,000 per month.

Additionally, the Debtor stated in an Oct. 25, Plan confirmation
hearing, the Debtor acknowledged that no additional information
indicating that the Omega loan would close.  However, the Debtor
related that a related entity -- ZTF Family Limited Partnership --
was working with another lender to obtain funds necessary.
Jefferson Bank adds that the unidentified lender has not issued
any commitment letter and no evidence was put firth disclosing the
name of the new lender.

Jefferson Bank asserts that, among other things:

   1. the case was filed in bad faith;

   2. the only unsecured, non-priority creditors identified in the
   Debtor's schedules are the Debtor's accountant and former
   lawyers, and the total amount of unsecured claims is $177,864;
   the total amount of the claims is minimal in comparison to more
   that $5 million owed to Jefferson Bank;

   3. the Debtor has no employees; and

   4. the Debtor's property is subject of a pending foreclosure
   sale.

The Court will consider Jefferson Bank's request at a hearing
scheduled for Nov. 22, 2011, at 2:30 p.m.

                            About AMT LLC

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


AQUILEX HOLDINGS: Secures $15 Million in Incremental Financing
--------------------------------------------------------------
Aquilex Holdings LLC has reached an agreement for $15 million in
incremental debt financing from a group of senior noteholders led
by affiliates of Centerbridge Partners, L.P.  This investment,
which is expected to close and be fully funded by Nov. 16, 2011,
represents an important first milestone in the Company's financial
restructuring process and increases the Company's liquidity to
$33.5 million when coupled with its existing cash on hand of $18.5
million, as of Nov. 14, 2011.  The additional liquidity, which is
being provided pursuant to a second-lien senior secured credit
facility, will help ensure that Aquilex's operations continue in
the normal course while the Company continues to engage in
constructive negotiations with lenders and senior noteholders
regarding a consensual balance sheet restructuring.

"We are pleased to have reached an agreement for a $15 million
investment from our largest senior noteholders, which will provide
us with incremental liquidity and represents the first major
milestone in our financial restructuring efforts.  The actions by
our senior noteholders and lenders are a strong sign of support
for the Company in this process," said Bill Varner, President and
Chief Executive Officer of Aquilex.  "This additional liquidity
will help ensure that business continues as usual for our
employees, customers and vendors as we continue to engage in
active and constructive negotiations with our lenders and senior
noteholders regarding a consensual balance sheet restructuring
that would significantly deleverage the Company's balance sheet,
enhance the financial flexibility of Aquilex, and allow us to
reinvest in the business to better support our customers."

He continued, "Throughout this restructuring process, we will
focus on minimizing any impact on our customers, vendors and
suppliers, who should not experience any changes or disruption in
the high quality services they have come to expect from Aquilex.
We intend to honor vendor contracts under normal terms and expect
service to customers will continue without interruption during
this process.  We appreciate the continued support of our
employees, customers and vendors as we shape Aquilex into a world-
class provider of solutions to the energy services industry."

In connection with the financing agreement, Aquilex's lenders have
agreed to extend the previously announced forbearance agreement
from Dec. 8, 2011, to Feb. 3, 2012.  As part of the amended
forbearance agreement, the Company's lenders have agreed not to
take any action relating to a potential financial covenant default
as a result of the Company's fourth quarter 2011 financial
performance.  Separately, a majority of the Company's senior
noteholders have agreed to forbear until Feb. 3, 2012, from taking
any legal action if the Company determines not to pay the $12.5
million interest payment on the Company's senior notes due on
Dec. 15, 2011.

The Company anticipates that it will reach an agreement-in-
principle on the terms of the financial restructuring by Dec. 15,
2011.  While the plan has not yet been finalized, the Company
expects that the potential transaction will result in a
substantial reduction in the level of its debt and increased
financial flexibility.  Aquilex expects the cornerstones of the
restructuring to include a substantial new equity investment by
the senior noteholders, which will provide additional liquidity
for working capital purposes and a significant paydown of the
Company's secured debt.  Aquilex expects that, as part of the
restructuring, the Company's senior notes would be exchanged for
common equity of the Company pursuant to an out-of-court
restructuring or a voluntary filing under Chapter 11 of the U.S.
Bankruptcy Code, which the Company currently expects would be a
"pre-packaged" bankruptcy filing.  In the event of such a filing,
the Company expects that the closing of the restructuring would
take place as soon as 45 to 60 days thereafter and the proceedings
would not affect its customers, vendors or employees.  As part of
the closing of the transaction, the Company expects that
affiliates of Centerbridge Partners, L.P., would become the
controlling shareholder of Aquilex.

Rothschild Inc. is acting as financial advisor and investment
banker and Richards, Layton & Finger is acting as legal advisor to
Aquilex in connection with the restructuring.  Alvarez & Marsal is
acting as restructuring advisor to the Company.

The Company noted that the foregoing represents only its current
expectations and is subject to numerous assumptions, including the
receipt of sufficient support for its restructuring plan from its
existing creditors.  Additional information is available in the
Company's filings with the Securities and Exchange Commission,
including but not limited to its Quarterly Report on Form 10Q for
its third quarter of 2011, as filed with the SEC on Nov. 14, 2011.

                       About Aquilex Holdings

Aquilex Holdings LLC is the parent of Aquilex Corporation, a
leading provider of critical maintenance, repair and industrial
cleaning solutions to the energy industry. Through our divisional
and branch offices in the United States and Europe, we provide our
services to a diverse global base of over 600 customers, primarily
in the oil and gas refining, chemical and petrochemical
production, fossil and nuclear power generation and waste-to-
energy industries.

The Company's Credit Agreement requires it to maintain certain
financial ratios, including a minimum ratio of Adjusted EBITDA to
total interest expense and maximum ratios of total debt and senior
secured debt to Adjusted EBITDA.

"While the Company was in compliance with its debt covenants as of
June 30, 2011, based on current business conditions and forecast,
there can be no assurance that the Company will be in compliance
with those covenants as of Sept. 30, 2011, or thereafter," the
Company said in its Form 10-Q for the quarter ended June 30, 2011.

The Company also reported a net loss of $298.61 million on
$327.74 million of revenue for the nine months ended Sept. 30,
2011, compared with a net loss of $27.53 million on
$324.04 million of revenue for the same period a year ago.

The Company's balance sheet at Sept. 30, 2011, showed
$400.49 million in total assets, $505.51 million in total
liabilities, and a $105.01 million total deficit.

Aquilex said there can be no assurance that the Company will be
able to restructure its debt and obtain sufficient additional
sources of liquidity in order to address its cash needs, or to
obtain any forbearance for any failure to make a scheduled
interest payment on the senior notes or any additional forbearance
for covenant defaults under its Credit Agreement.  These
conditions raise substantial doubt about the Company's ability to
continue as a going concern.

                        Bankruptcy Warning

To meet the Company's cash needs for the next twelve months and
over the longer term, the Company expects that it will be required
to restructure its debt obligations and obtain additional
liquidity sources, because the Company does not expect that it
will generate sufficient cash from its operations to fund its debt
service along with its operating expenses, capital expenditures
and other cash requirements over that period.

In connection with the Company's restructuring efforts, the
Company is engaged in active and constructive negotiations with an
ad hoc committee of holders of its senior notes and a steering
committee of its lenders regarding a consensual restructuring that
would significantly deleverage its capital structure.  The Company
is also considering a range of financing options in connection
with the restructuring, including arranging a short-term financing
facility.  The Company is engaged in negotiations for such a
short-term financing facility with certain lenders who are current
holders of its senior notes.  If these negotiations are
unsuccessful, the Company may not need additional liquidity to
meet its anticipated cash needs prior to consummation of an out of
court restructuring or reaching a definitive agreement on a "pre-
packaged" or "pre-arranged"? bankruptcy plan of reorganization.
However, if the Company determines that such short-term financing
is necessary, but remains unavailable, or the Company obtains such
financing but are unable to consummate an out of court
restructuring, the Company expects that it would commence a
voluntary Chapter 11 bankruptcy case and, in connection with such
potential scenario, the Company is engaged in negotiations with
its lenders regarding a debtor-in-possession financing facility.

                           *     *     *

As reported by the TCR on Oct. 24, 2011, Standard & Poor's Ratings
Services lowered its corporate credit rating on Aquilex Holdings
LLC to 'CCC-' from 'CCC+'.  The rating actions reflect Aquilex's
weak liquidity, as the company breached its financial covenants in
the third quarter of 2011 and is now operating under a forbearance
agreement expiring Dec. 8, 2011.


AR BROADCASTING: Cumulus Media Units File for Chapter 11
--------------------------------------------------------
Katy Stech, writing for Dow Jones' Daily Bankruptcy Review,
reports that radio giant Cumulus Media Inc. put four financially
struggling Missouri and Texas radio stations into Chapter 11
bankruptcy protection Thursday to restructure the debt-heavy
finances of the subsidiary companies that control them.

AR Broadcasting Holdings Inc., which is owned entirely by Cumulus
Media, filed for Chapter 11 protection (Bankr. D. Del. Case No.
11-13674) after struggling to pay off debts that topped $97
million as of June 30.  Holdings estimated debts between $50
million and $100 million but said assets are worth less than $50
million.  Affiliates AR Broadcasting and AR Licensing also filed
for bankruptcy.

Judge Brendan Linehan Shannon has been assigned the case.

According to the report, Chief Accounting Officer Linda A. Hill
blamed the company's financial hardship on revenues that fell
after two of the company's Houston radio station towers were
knocked down during Hurricane Ike in 2008.  The company's finances
were also hurt by the nationwide decline in advertising spending,
she said.

DBR notes company executives negotiated a deal with the company's
lenders on how the company's debt should be restructured -- a deal
that has already gotten full support of the creditors the company
says were entitled to vote.

DBR relates that the company's bankruptcy attorney William E.
Chipman, Jr., reached by phone, declined to explain how the
negotiated deal would shift ownership in the radio stations.

                        About Cumulus Media

Based in Atlanta, Georgia, Cumulus Media Inc. (NASDAQ: CMLS) --
http://www.cumulus.com/-- is the second largest radio broadcaster
in the U.S. based on station count, operating 570 stations in 120
cities.  Early in 2011, it acquired rival Citadel Broadcasting
Corp. for $1.4 billion in cash and issued 22.5 million shares of
Class A common stock and warrants to purchase roughly 47.7 million
shares of common stock to Citadel security holders.

The Company's balance sheet at Sept. 30, 2011, showed
$4.07 billion in total assets, $3.65 billion in total liabilities,
$110.93 million in total redeemable preferred stock, and
$306.39 million in total stockholders' equity.

                          *     *     *

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

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


AVSTAR AVIATION: Delays Filing of Form 10-Q for Sept. 30 Qtr.
-------------------------------------------------------------
AvStar Aviation Group, Inc., was unable to file its Quarterly
Report on Form 10-Q for the period ended Sept. 30, 2011, within
the prescribed time period without unreasonable effort and expense
due to the unavailability of certain information that may
materially affect the disclosure to be contained in the Report.

                        About Avstar Aviation

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

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

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

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


B GREEN INNOVATIONS: Incurs $54,727 Net Loss in Third Quarter
-------------------------------------------------------------
B Green Innovations, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $54,727 on $64,173 of net sales for the three months
ended Sept. 30, 2011, compared with a net loss of $118,009 on
$43,913 of net sales for the same period during the prior year.

The Company also reported a net loss of $237,698 on $171,527 of
net sales for the nine months ended Sept. 30, 2011, compared with
net income of $1.15 million on $142,997 of net sales for the same
period a year ago.

The Company's balance sheet at Sept. 30, 2011, showed
$1.18 million in total assets, $1.38 million in total liabilities,
all current, and a $199,229 total stockholders' deficit.

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

                        http://is.gd/rUJWSx

                     About B Green Innovations

Matawan, N.J.-based B Green Innovations, Inc. (OTC BB: BGNN)
-- http://www.bgreeninnovations.com/-- is dedicated to
becoming a "green" technology company, focused on acquiring and
identifying promising technologies that address environmental
issues.  The first technology will be used to create new products
from recycled tire rubber.

As reported in the TCR on March 88, 2011, Rosenberg, Rich, Baker,
Berman and Company, in Somerset, New Jersey, expressed substantial
doubt about B Green Innovations' ability to continue as a going
concern, following the Company's 2010 results.  The independent
auditors noted that the Company had negative cash flow from
operations from date of inception, and recurring net losses.


BALLY TOTAL: Sells 171 Outlets to L.A. Fitness
----------------------------------------------
Paul J. Gough at Pittsburgh Business Times reports that L.A.
Fitness International is buying 171 Bally Total Fitness locations.
According to the report, financial terms of the deal weren't
announced, but the acquisition is expected to close Nov. 30, 2011.

The 171 Bally Total Fitness Clubs are in Pennsylvania, Michigan,
Georgia and other states and are among the 271 owned by Bally
Total Fitness.  The report says the remaining 100 Bally Total
Fitness will keep the Bally name.

                     About Bally Total Fitness

Chicago, Illinois-based Bally Total Fitness operates fitness
centers across the United States and is among the most popular
health club brands in America.

Bally Total and its affiliates filed for Chapter 11 protection
(Bankr. S.D.N.Y. Case No. 07-12396) on July 31, 2007 after
obtaining requisite number of votes in favor of their pre-
packaged Chapter 11 plan.  The Bankruptcy Court confirmed the
Company's Chapter 11 plan and the Company emerged from bankruptcy
Oct. 1, 2007.

Bally Total Fitness Holding Corp. and its debtor-affiliates and
subsidiaries again filed voluntary petitions under Chapter 11
(Bankr. S.D.N.Y., Lead Case No. 08-14818) on Dec. 3, 2008.  Their
counsel is Kenneth H. Eckstein, Esq., at Kramer Levin Naftalis &
Frankel LLP, in New York.  As of Sept. 30, 2008, the Company
(including non-debtor affiliates) had consolidated assets totaling
approximately $1.376 billion and recorded consolidated liabilities
totaling approximately $1.538 billion.

Bally Total Fitness Holding and its 42 debtor-affiliates delivered
their Joint Plan of Reorganization and Disclosure Statement to the
Bankruptcy on June 10, 2009.  The Plan was confirmed Aug. 19,
2009, and the Company emerged from bankruptcy Sept. 1, 2009.


BANK OF AMERICA: Regulators Warn of Public Enforcement Action
-------------------------------------------------------------
Dan Fitzpatrick, writing for The Wall Street Journal, reports that
people familiar with the situation said Bank of America Corp.'s
board has been told that the company could face a public
enforcement action if regulators aren't satisfied with recent
steps taken to strengthen the bank.

WSJ notes Bofa, the U.S.'s second-largest lender, has been
operating under a memorandum of understanding since May 2009,
following repeated tussles with regulators over the purchase of
securities firm Merrill Lynch & Co. and a downgrade of the
company's confidential supervisory rating.  People familiar with
the document told the Journal that the memorandum, which isn't
public, identified governance, risk and liquidity management as
problems that had to be fixed.

The Journal also reports that regulators in recent months met with
BofA's board and said they wanted to see more progress on the
bank's compliance with the memorandum.  Otherwise the informal
order could turn into a formal and public action, which would
likely mean intensified scrutiny and greater restrictions as Chief
Executive Brian Moynihan tries to shed problems tied to the
financial crisis.

The sources told the Journal that BofA's directors were taken
aback.  It "put the board on the ground," one of these people told
the Journal.


BEACH AVENUE: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Beach Avenue Properties, Inc.
        27 Royal Way
        Manhasset Hills, NY 11040

Bankruptcy Case No.: 11-15284

Chapter 11 Petition Date: November 16, 2011

Court: United States Bankruptcy Court
       Southern District of New York (Manhattan)

Debtor's Counsel: Richard M. Gabor, Esq.
                  GABOR & ASSOCIATES
                  1878 Victory Boulevard
                  Staten Island, NY 10314
                  Tel: (718) 390-0555
                  Fax: (718) 390-9886
                  E-mail: rgabor@gaborassociates.com

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

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

The Debtor did not file a list of its largest unsecured creditors
together with its petition.

The petition was signed by George Varughese, president.


BEACON POWER: To Sell Stephentown Flywheel Plant by January
-----------------------------------------------------------
Beacon Power Corporation reached an agreement with the U.S.
Department of Energy's Loan Programs Office (LPO) at a second
Delaware court hearing on Nov. 18, 2011, in the Company's Chapter
11 bankruptcy proceeding.

Since filing for bankruptcy protection on October 30, 2011, Beacon
Power and its advisors had engaged in ongoing discussions with LPO
advisors as to the Company's use of cash collateral and resolution
of its loan obligation.  Beacon requested that LPO support its
restructuring efforts to preserve Beacon as an organization,
maintain the value of the Company's 20 MW flywheel plant in
Stephentown, New York, and enable Beacon to complete its
reorganization as quickly and efficiently as possible.  However,
LPO's highest priority was to recover as much of the $39.1 million
loan balance as soon as possible.  This led to an agreement to
conduct the sale of the Stephentown facility by Jan. 30, 2012.

The court also approved Beacon's request that it be allowed to
list its other assets for sale, although the Company may choose
not to do so, or only sell some individual assets, if it is able
to raise sufficient new capital by the end of January.  Beacon is
in preliminary discussions with several strategic investors and
private equity firms that have expressed an interest in making a
significant investment in the restructured company.

Beacon Power is confident that the recent Federal Energy
Regulatory Commission Order No. 755 on pay-for-performance for
energy storage resources (like the Stephentown plant) will have a
significant revenue-enhancing impact and increase the value of the
flywheel facility when it takes effect in New York later in 2012.
Further, Beacon believes that its singular expertise in
developing, operating and maintaining grid-scale flywheel systems
also adds unique value to the plant.

Also at the hearing, LPO's objections to Beacon's use of
approximately $3 million in cash collateral to fund the Company's
business operations were resolved.  Beacon will have full access
to that cash to fund its weekly operations at an agreed-upon
reduced budget.  In addition, Beacon's bankruptcy counsel and
financial advisors have agreed to defer their fees, enabling the
Company to allocate more of the cash collateral toward operations.

Bill Capp, Beacon Power President and CEO, said, "Our goal was to
reach a settlement agreement with the DOE Loan Programs Office and
we have done that.  We will now focus on attracting new capital to
reorganize our company."

The settlement is subject in all respects to the terms of the
court's order, available at:
http://dm.epiq11.com/BPE/docket/Default.aspx?rc=1

Galen Moorea at Boston Business Journal the Delaware Bankruptcy
Court has filed a proposed final order that would require Beacon
Power Corp. to prepare bid procedures to sell its assets,
beginning Nov. 23, 2011, if the company can't find a way to pay
off $3 million in cash collateral it has appropriated to continue
operations.

                        About Beacon Power

Tyngsboro, Mass.-based Beacon Power Corporation (Nasdaq: BCOND)
-- http://www.beaconpower.com/-- designs, manufactures and
operates flywheel-based energy storage systems that it has begun
to deploy in company-owned merchant plants that sell frequency
regulation services in open-bid markets.

Beacon Power filed for Chapter 11 protection on Oct. 30, 2011, in
Delaware (Bankr. D. Del. Case No. 11-13450) after borrowing
$39.1 million guaranteed by the U.S. Energy Department.  Brown
Rudnick and Potter Anderson & Corroon serve as the Debtor's
counsel.

Tyngsboro, Massachusetts-based Beacon listed assets of $72 million
and debt totaling $47 million, including $39.1 million owing on
the government-guaranteed loan.  Beacon built a $69 million
facility with 20 megawatts of balancing capacity in Stephentown,
New York, funded mostly by the Energy Department loan.

Beacon Power is the second cleantech company which has been backed
by the U.S. Department of Energy via loan guarantees to fail this
year.  The first was Solyndra, which declared Chapter 11
bankruptcy on Sept. 6, 2011.


BEACON POWER: Gov't to Get Lien on Assets to Fix Sale Dispute
-------------------------------------------------------------
Carla Main, substituting for Bloomberg News bankruptcy columnist
Bill Rochelle, reports that Beacon Power Corp. asked a judge to
approve an auction of its assets.  At a hearing Nov. 18 in
Wilmington, Delaware, Beacon lawyer William Baldiga told U.S.
Bankruptcy Judge Kevin Carey that to resolve a dispute with the
U.S. Department of Energy over use of loan proceeds, the company
would also give the government a lien on the assets and
intellectual property.  Judge Carey asked lawyers to prepare an
order on the sale.

According to the report, U.S. Justice Department attorney Matthew
Troy told Judge Carey Nov. 18 that energy officials agreed with
the sale plan.

                        About Beacon Power

Tyngsboro, Mass.-based Beacon Power Corporation (Nasdaq: BCOND)
-- http://www.beaconpower.com/-- designs, manufactures and
operates flywheel-based energy storage systems that it has begun
to deploy in company-owned merchant plants that sell frequency
regulation services in open-bid markets.

Beacon Power filed for Chapter 11 protection on Oct. 30, 2011, in
Delaware (Bankr. D. Del. Case No. 11-13450) after borrowing $39.1
million guaranteed by the U.S. Energy Department.  Brown Rudnick
and Potter Anderson & Corroon serve as the Debtor's counsel.

Tyngsboro, Massachusetts-based Beacon disclosed assets of
$72 million and debt totaling $47 million, including $39.1 million
owing on the government-guaranteed loan.  Beacon built a $69
million facility with 20 megawatts of balancing capacity in
Stephentown, New York, funded mostly by the Energy Department
loan.

Beacon Power is the second cleantech company which has been backed
by the U.S. Department of Energy via loan guarantees to fail this
year.  The first was Solyndra, which declared Chapter 11
bankruptcy on Sept. 6, 2011.


BEACON POWER: Writes Down Value of Stephentown Energy Plant
-----------------------------------------------------------
Galen Moorea at Boston Business Journal, citing a regulatory
filing, reports that Beacon Power Corp. has written down the value
of its Stephentown, New York, energy storage plant by $41.9
million, to $12.6 million, citing price uncertainty in New York's
market for frequency regulation.

"In general, we expect regulation pricing to increase in the
future, but we are unable to assess whether the recent pricing
trend in New York is reflective of a temporary or a permanent
change in the pricing structure," the report quotes the company as
saying.

Beacon also warned in the filing that should frequency regulation
pricing remain at current levels in New York, it is unlikely that
the company would be able to pay its $39.1 million remaining loans
written by the Federal Financing Bank and guaranteed by the
Department of Energy.

                        About Beacon Power

Tyngsboro, Mass.-based Beacon Power Corporation (Nasdaq: BCOND)
-- http://www.beaconpower.com/-- designs, manufactures and
operates flywheel-based energy storage systems that it has begun
to deploy in company-owned merchant plants that sell frequency
regulation services in open-bid markets.

Beacon Power filed for Chapter 11 protection on Oct. 30, 2011, in
Delaware (Bankr. D. Del. Case No. 11-13450) after borrowing $39.1
million guaranteed by the U.S. Energy Department.  Brown Rudnick
and Potter Anderson & Corroon serve as the Debtor's counsel.

Tyngsboro, Massachusetts-based Beacon listed assets of $72 million
and debt totaling $47 million, including $39.1 million owing on
the government-guaranteed loan.  Beacon built a $69 million
facility with 20 megawatts of balancing capacity in Stephentown,
New York, funded mostly by the Energy Department loan.

Beacon Power is the second cleantech company which has been backed
by the U.S. Department of Energy via loan guarantees to fail this
year.  The first was Solyndra, which declared Chapter 11
bankruptcy on Sept. 6, 2011.


BEAZER HOMES: Incurs $204.8 Million Net Loss in Fiscal 2011
-----------------------------------------------------------
Beazer Homes USA, Inc., filed with the U.S. Securities and
Exchange Commission its Annual Report on Form 10-K reporting a net
loss of $204.85 million on $742.40 million of total revenue for
the fiscal year ended Sept. 30, 2011, compared with a net loss of
$34.05 million on $991.15 million of total revenue during the
prior year.

The Company reported a net loss of $43.17 million on
$334.91 million of total revenue for the three months ended Sept.
30, 2011, compared with a net loss of $59.53 million on
$268.74 million of total revenue for the same period a year ago.

The Company's balance sheet at Sept. 30, 2011, showed
$1.97 billion in total assets, $1.77 billion in total liabilities,
and $198.38 million in total stockholders' equity.

Allan Merrill, President and Chief Executive Officer said, "Our
new home orders showed encouraging signs of improvement in the
second half of Fiscal 2011.  While we acknowledge the many
challenges facing the industry, we believe we have the people, the
communities and the homes to allow us to generate increased new
home orders and deliveries in Fiscal 2012 as we pursue a
deliberate climb back to profitability."

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

                         http://is.gd/MQhBpN

                         About Beazer Homes

Beazer Homes USA, Inc. (NYSE: BZH) -- http://www.beazer.com/--
headquartered in Atlanta, is one of the country's 10 largest
single-family homebuilders with continuing operations in Arizona,
California, Delaware, Florida, Georgia, Indiana, Maryland, Nevada,
New Jersey, New Mexico, North Carolina, Pennsylvania, South
Carolina, Tennessee, Texas, and Virginia.  Beazer Homes is listed
on the New York Stock Exchange under the ticker symbol "BZH."

                           *     *     *

As reported by the TCR on Sept. 14, 2011, Moody's Investors
Service downgraded the corporate family and probability of default
ratings of Beazer Homes USA, Inc. to Caa2 from Caa1.  The
downgrade reflects Moody's expectations that the conditions in
the homebuilding industry will continue to put pressure on
Beazer's operating and financial metrics, resulting in operating
losses, negative cash flow generation, elevated debt leverage, and
declines in equity over the next two years.  Additionally, Moody's
expect the company to continue burning cash from its land spend.
In addition, Moody's expects Beazer to continue experiencing
declines in deliveries and revenues into 2012.

Fitch Ratings has downgraded its ratings for Beazer Homes USA,
Inc., including the company's Issuer Default Rating (IDR) to 'CCC'
from 'B-'.  The ratings downgrade reflects Fitch's belief new
housing activity will remain weak through at least 2012 and the
company's liquidity position is likely to erode in the next 18
months.  With the recent softening in the economy and lowered
economic growth expectations for 2011 and 2012, the environment
may at best support a relatively modest recovery in housing
metrics over the next year and a half.  Fitch had previously
forecast a slightly more robust housing environment in 2011 and
2012.


BERNARD L. MADOFF: Jewish Assoc. Seeks District Review of Suit
--------------------------------------------------------------
Carla Main, substituting for Bloomberg News bankruptcy columnist
Bill Rochelle, reports that The Jewish Association for Services
for the Aged, sued by the trustee liquidating Bernard L. Madoff's
firm for $5.2 million in so-called fictitious profits over six
years, asked a district judge to review the case, saying it was
similar to other suits against innocent investors that raised
legal issues beyond the province of a bankruptcy judge.

According to the report, the association's request was one of more
than 40 made to district court Nov. 18 by organizations, trusts,
individuals and companies challenging trustee Irving Picard's
right to "claw back" money from them, according to court filings.

                 Procedural Clash in Rakoff's Court

Bloomberg News reported that after the Madoff trustee sustained
several defeats at the end of October from the pen of U.S.
District Judge Jed Rakoff, the judge granted the trustee a meager
victory in a procedural skirmish with a customer named James
Greiff.  The Madoff trustee filed papers aimed at preventing
dismissal of hundreds of suits to recover fictitious profits.
Judge Rakoff took the Greiff suit out of bankruptcy court where
the customer was being sued for receiving fictitious profits.  Mr.
Greiff's lawyer followed up with a motion asking Judge Rakoff to
dismiss the suit.

In his brief arguing for dismissal, Mr. Greiff argued that the
Madoff firm "was not a Ponzi scheme." Mr. Greiff's lawyer, Helen
Davis Chaitman, contended the firm was "a legitimate trading
business which operated a fraudulent investment business on the
side to fund the trading operation."

Mr. Picard responded by saying that Mr. Chaitman was raising
questions beyond those Judge Rakoff said he would decide.  Judge
Rakoff agreed in part, telling Mr. Picard on Oct. 25 that he need
not counter the notion that the Madoff firm wasn't a Ponzi scheme.
Judge Rakoff also allowed Mr. Picard to disregard the argument
that the Madoff firm never obtained title to customers' funds
because they were stolen.

The judge is having Mr. Picard brief the question of how to
calculate the amount taken out within two years of bankruptcy.

                      About Bernard L. Madoff

Bernard L. Madoff Investment Securities LLC and Bernard L. Madoff
orchestrated the largest Ponzi scheme in history, with losses
topping US$50 billion.  On Dec. 15, 2008, the Honorable Louis A.
Stanton of the U.S. District Court for the Southern District of
New York granted the application of the Securities Investor
Protection Corporation for a decree adjudicating that the
customers of BLMIS are in need of the protection afforded by the
Securities Investor Protection Act of 1970.  The District Court's
Protective Order (i) appointed Irving H. Picard, Esq., as trustee
for the liquidation of BLMIS, (ii) appointed Baker & Hostetler LLP
as his counsel, and (iii) removed the SIPA Liquidation proceeding
to the Bankruptcy Court (Bankr. S.D.N.Y. Adv. Pro. No. 08-01789)
(Lifland, J.).  Mr. Picard has retained AlixPartners LLP as claims
agent.

On April 13, 2009, former BLMIS clients filed an involuntary
Chapter 7 bankruptcy petition against Bernard Madoff (Bankr.
S.D.N.Y. 09-11893).  The case is before Hon. Burton Lifland.  The
petitioning creditors -- Blumenthal & Associates Florida General
Partnership, Martin Rappaport Charitable Remainder Unitrust,
Martin Rappaport, Marc Cherno, and Steven Morganstern -- assert
US$64 million in claims against Mr. Madoff based on the balances
contained in the last statements they got from BLMIS.

On April 14, 2009, Grant Thornton UK LLP as receiver placed Madoff
Securities International Limited in London under bankruptcy
protection pursuant to Chapter 15 of the U.S. Bankruptcy Code
(Bankr. S.D. Fla. 09-16751).

The Chapter 15 case was later transferred to Manhattan.  In June
2009, Judge Lifland approved the consolidation of the Madoff SIPA
proceedings and the bankruptcy case.

Judge Denny Chin of the U.S. District Court for the Southern
District of New York on June 29, 2009, sentenced Mr. Madoff to
150 years of life imprisonment for defrauding investors in United
States v. Madoff, No. 09-CR-213 (S.D.N.Y.)

As of July 15, 2011, a total of US$6.88 billion in claims by
investors has been allowed, with US$794.9 million to be paid by
the Securities Investor Protection Corp.  Investors are expected
to receive additional distributions from money recovered by Mr.
Picard from lawsuits or settlements.

Mr. Picard has filed 1,000 lawsuits seeking $100 billion from
banks such as HSBC Holdings Plc and JPMorgan Chase & Co.  The
trustee has seen more than $28 billion of his claims tossed by
district judges.


BIOFUELS POWER: Delays Filing of Form 10-Q for 3rd Quarter
----------------------------------------------------------
Biofuels Power Corp. notified the U.S. Securities and Exchange
Commission that its financial statements for the quarter ended
Sept. 30, 2011, are not yet ready for distribution as a result of
recent measures the Company has taken with regard to the
restatement of fixed assets due to the relocation of its primary
operations.

                           Biofuels Power

Humble, Tex.-based Biofuels Power Corporation is a distributed
energy company that is pioneering the use of biodiesel to fuel
small electric generating facilities that are located in close
proximity to end-users.  BPC's first power plant is currently
located near Houston, Texas in the city of Oak Ridge North.

At June 30, 2011, the Company's balance sheet showed $2.0 million
in total assets, $5.9 million in total liabilities, and a
stockholders' deficit of $3.9 million.

As reported in the TCR on June 22, 2011, Clay Thomas, P.C., in
Houston, expressed substantial doubt about Biofuels Power's
ability to continue as a going concern, following the Company's
results for the fiscal year ended Dec. 31, 2010.  The independent
auditor noted that the Company has suffered significant losses and
will require additional capital to develop its business until the
Company either (1) achieves a level of revenues adequate to
generate sufficient cash flows from operations; or (2) obtains
additional financing necessary to support its working capital
requirements.


BIOZONE PHARMACEUTICALS: Delays Filing of Quarterly Report
----------------------------------------------------------
Biozone Pharmaceuticals, Inc., informed the U.S. Securities and
Exchange Commission that it will be late in filing its Quarterly
Report on Form 10-Q for the period ended Sept. 30, 2011.  The
Company said that the compilation, dissemination and review of the
information required to be presented in the Form 10-Q for the
relevant quarter has imposed time constraints that have rendered
timely filing of the Form 10-Q impracticable without undue
hardship and expense to the registrant.  The Company undertakes
the responsibility to file such quarterly report no later than
five days after its original due date.

                           About Biozone

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

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

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

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

BioZone as of Oct. 29, 2011, is in default with respect to eleven
senior secured convertible promissory notes issued to various
accredited investors with an aggregate principal amount of
$2,250,000 due to the fact that the Company has not paid the
amount due on maturity.


BLITZ USA: Gets Interim OK to Pay $1.3MM Critical Vendors Claim
---------------------------------------------------------------
The Hon. Peter J. Walsh of the U.S. Bankruptcy Court for the
District of Delaware authorized, on an interim basis,

   -- Blitz U.S.A., Inc. et al., to pay certain prepetition claims
   of (a) critical vendors in the aggregate amount not to exceed
   $1.3 million, and (b) lien claimants in the ordinary course of
   business; and

   -- financial institutions to receive, process, honor, and pay
   all checks presented for payment and electronic payment
   requests related to the foregoing.

In its motion, the Debtors also request to authorize payment of
the critical vendors claim up to $2 million, and lien claimants up
to $520,000 on a final basis.

The Debtors related that they cannot afford any interruption in
the supply of raw materials and other products needed to
manufacture their gas cans.

The Debtors set a Dec. 5, final hearing, at 9:30 a.m., prevailing
Eastern Time, on the Debtors' request for authorization to pay
critical vendors claim.  Objections, if any, are due seven
business days prior to the final hearing date.

Miami, Oklahoma-based Blitz Acquisition Holdings, Inc. and its
affiliates filed for Chapter 11 protection (Bankr. D. Del. Case
Nos. 11-13602 to 11-13607) on Nov. 9, 2011.  The Hon. Peter J.
Walsh presides over the case.  Daniel J. DeFranceschi, Esq., at
Richards, Layton & Finger represents the Debtors in their
restructuring efforts.  The Debtors tapped Zolfo Cooper, LLC as
restructuring advisor; Kurtzman Carson Consultants LLC serves as
notice and claims agent.  Debtor-affiliate Blitz Acquisition
estimated assets and debts at $50 million to $100 million.  The
petitions were signed by Rocky Flick, president and chief
executive officer.


BONDS.COM GROUP: Delays Filing of Form 10-Q for Sept. 30 Quarter
----------------------------------------------------------------
Bonds.com Group, Inc., was unable to file its Quarterly Report on
Form 10-Q for the fiscal quarter ended Sept. 30, 2011, without
unreasonable effort or expense due to other pressing demands on
the Company's management team, as well as the recent departure of
the Company's prior Chief Financial Officer who previously had
overseen all company filings.  The Quarterly Report on Form 10-Q
is expected to be filed not later than the fifth calendar day
following the prescribed due date.

                        About Bonds.com Group

Based in Boca Raton, Florida, Bonds.com Group, Inc. (OTC BB: BDCG)
-- http://www.bonds.com/-- through its subsidiary Bonds.com,
Inc., serves institutional fixed income investors by providing a
comprehensive zero subscription fee online trading platform.  The
Company designed the BondStation and BondStationPro platforms to
provide liquidity and competitive pricing to the fragmented Over-
The-Counter Fixed Income marketplace.

The Company differentiates itself by offering through Bonds.com,
Inc. an inventory of more than 35,000 fixed income securities from
more than 175 competing sources.  Asset classes currently offered
on BondStation and BondStationPro, the Company's fixed income
trading platforms, include municipal bonds, corporate bonds,
agency bonds, certificates of deposit, emerging market debt,
structured products and U.S. Treasuries.

The Company's balance sheet at June 30, 2011, showed $5.71 million
in total assets, $11.36 million in total liabilities, and a
$5.64 million stockholders' deficit.

The Company reported a net loss of $12.51 million on $2.71 million
of revenue for the year ended Dec. 31, 2010, compared with a net
loss of $4.69 million on $3.90 million of revenue during the prior
year.

As reported by the TCR on May 9, 2011, Daszkal Bolton LLP, in Boca
Raton, Fla., in its audit reports for the years ended Dec. 31,
2009, and Dec. 31, 2010, expressed substantial doubt about the
Company's ability to continue as a going concern.  The auditors
noted that the Company has sustained recurring losses and has
negative cash flows from operations.


BRAD & SONS: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: Brad & Sons Construction, Inc.
        3492 N. Hwy 77
        Giddings, TX 78942

Bankruptcy Case No.: 11-12828

Chapter 11 Petition Date: November 17, 2011

Court: United States Bankruptcy Court
       Western District of Texas (Austin)

Judge: H. Christopher Mott

Debtor's Counsel: C. Michael Black, Esq.
                  LAW OFFICE OF C. MICHAEL BLACK
                  One Sugar Creek Center Blvd #1080
                  Sugar Land, TX 77478
                  Tel: (713) 522-5999
                  Fax: (713) 522-2925
                  E-mail: cmb@cmblack-lawyer.com

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

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

The Debtor did not file a list of its largest unsecured creditors
together with its petition.

The petition was signed by Bowdy B. Bradford, vice-president.


BRAY & JAMISON: Anloc Creditors Want Ch. 11 Trustee to Take Over
----------------------------------------------------------------
Anloc, L.L.C., Michael Coolures, James W. Alexander 1993 Living
Trust, Alexander Energy, and DMA Oil & Gas, LLC, ask the U.S.
Bankruptcy Court for the Southern District of Texas to appoint a
Chapter 11 trustee in the case of Bray & Jamison, PLLC.

The Anloc Creditors requested that in the alternative, the Court
enter an order appointing an examiner with extended powers.

The Anloc Creditors contend that the actions of the Debtor satisfy
the cause requirements for the appointment of a trustee.  This is
a complicated case involving not only the Debtor, but various
other individuals and entities that have the same or similar
managers as Debtor.  For example ACA is an entity managed by Bray
and Jamison, the same managers as Debtor.  ACA II is an entity
managed by Richard L. Fuqua, one of the Anloc Creditors' former
lawyers who was representing the Anloc Creditors' with Debtor.

The Anloc Creditors add that undermining the relationships between
the Debtor and the various individuals and companies are the
transfer of funds and assets between Debtor and the various
entities.  The transfers were the subject of a state court
proceeding.

The Anloc Creditors are represented by:

          Mynde S. Eisen, Esq.
          LAW OFFICE OF MYNDE S. EISEN, P.C.
          P.O. Box 630749
          Houston, TX 77263
          Tel: (713) 266-2955
          Fax: (713) 266-3008
          E-mail: wyndeeisen@sbcglobal.net

                   - and -

          John E. Chapoton, Esq.
          WELSH CHAPOTON LLP
          8 Greenway Plaza, Suite 1120
          Houston, TX 77046
          Tel: (713) 554-7770
          Fax: (713) 554-7771
          E-mail: jchapoton@welshchapoton.com

                   - and -

          Robert B. Dillon
          ROBERT B. DILLON PLLC
          5810 Tanglewood Park
          Houston, TX 77057
          Tel: (713) 304-8736
          Fax: (713) 785-0027

                       About Bray & Jamison

Bray & Jamison PLLC, based in Houston, Texas, filed for Chapter 11
bankruptcy (Bankr. S.D. Tex. Case No. 11-38957) on Oct. 23, 2011.
Judge Letitia Z. Paul presides over the case.  Thomas R. Bray,
Esq. -- braylawoffice@aol.com -- at Bray Associates, serves as the
Debtor's counsel.  It estimated $10 million to $50 million in
assets and $100,001 to $500,000 in debts.  The petition was signed
by Bruce L. Jamison and Thomas R. Bray, managers.


BRIGHAM EXPLORATION: Faces "Hoppe" Complaint Over Merger Pact
-------------------------------------------------------------
A putative class action was filed in the federal district court
for the Western District of Texas, Austin Division purportedly on
behalf of a class of stockholders of Brigham, docketed as Hoppe v.
Brigham Exploration Company et al., Civil Action No. 1:11-CV-966.

The Hoppe Complaint names as defendants Brigham, members of
Brigham's Board of Directors, Statoil ASA and Fargo Acquisition
Inc.  The Hoppe Complaint seeks certification of a class of
Brigham's stockholders and alleges, inter alia, that the Schedule
14D-9 violates Section 14(e) of the Exchange Act and that the
members of Brigham's Board of Directors should have known that the
Schedule 14D-9 violated Section 14(e) of the Exchange Act, that
the members of Brigham's Board of Directors breached fiduciary
duties owed to Brigham's stockholders by failing to engage in an
appropriate sales process in connection with the proposed
transaction, by agreeing to purportedly inadequate consideration,
by including certain deal protection provisions in the Merger
Agreement and by providing materially inadequate disclosures
related to the proposed transaction and that Brigham, Statoil and
Purchaser aided and abetted the alleged breach of fiduciary duties
by the members of Brigham's Board of Directors.

The Hoppe Complaint seeks, among other relief, a declaration that
the action is properly maintainable, an injunction prohibiting the
transactions contemplated by the Merger Agreement and costs of the
action, including reasonable attorneys' fees and experts' fees.
Statoil believes the Hoppe Complaint is without merit and that it
has a valid defense to all claims raised by the plaintiffs in the
Hoppe Complaint.  Statoil intends to defend itself vigorously
against this action.

                     About Brigham Exploration

Austin, Texas-based Brigham Exploration Company (NASDAQ: BEXP)
-- http://www.bexp3d.com/-- is an independent exploration,
development and production company that utilizes advanced
exploration, drilling and completion technologies to
systematically explore for, develop and produce domestic onshore
oil and natural gas reserves.  In late 2007, the majority of the
Company's drilling capital expenditures shifted from its
historically active areas in the Onshore Gulf Coast, the Anadarko
Basin and West Texas to the Williston Basin in North Dakota and
Montana, where the Company is currently targeting the Bakken,
Three Forks and Red River objectives.

The Company reported net income of $42.89 million on
$169.72 million of revenue for the year ended Dec. 31, 2010,
compared with a net loss of $122.99 million on $70.34 million of
revenue during the prior year.

The Company's balance sheet at June 30, 2011, showed $1.60 billion
in total assets, $931.54 million in total liabilities and $668.94
million in total stockholders' equity.

                         *     *     *

As reported by the TCR on Feb. 18, 2011, Moody's Investors Service
upgraded Brigham Exploration Company's Corporate Family Rating to
B3 from Caa1 and the Probability of Default Rating to B3 from
Caa1.  "The primary driver for the upgrade is Brigham's strong
reserve and production growth and significant financial
flexibility," said Francis J.  Messina, Moody's Vice President.
"The B3 Corporate Family Rating is prospective and it incorporates
Moody's expectation that the company will significantly increase
proved developed reserves and production rates over the next two
years."


BRIGHAM EXPLORATION: Faces "Thompson" Complaint Over Merger Pact
----------------------------------------------------------------
A putative class action was filed in the federal district court
for the Western District of Texas, Austin Division, purportedly on
behalf of a class of stockholders of Brigham, docketed as Thompson
v. Brigham Exploration Company et al., Civil Action No. 1:11-CV-
970.  The Thompson Complaint names as defendants Brigham, members
of Brigham's Board of Directors, Statoil ASA and Fargo Acquisition
Inc.  The Thompson Complaint seeks certification of a class of
Brigham's stockholders and alleges, inter alia, that the Schedule
14D-9 violates Sections 14(d)(4) and 14(e) of the Exchange Act and
that Brigham and the members of its Board of Directors should have
known that the Schedule 14D-9 violated Sections 14(d)(4) and 14(e)
of the Exchange Act, that the members of Brigham's Board of
Directors violated Section 20(a) of the 1934 Act by exercising
control over the transactions giving rise to violations of the
Exchange Act, that the members of Brigham's Board of Directors
breached fiduciary duties owed to Brigham's stockholders by
failing to engage in an appropriate sales process in connection
with the proposed transaction, by agreeing to purportedly
inadequate consideration, by including certain deal protection
provisions in the Merger Agreement and by providing materially
inadequate disclosures related to the proposed transaction and
that Brigham, Statoil and Purchaser aided and abetted the alleged
breach of fiduciary duties by the members of Brigham's Board of
Directors.  The Thompson Complaint seeks, among other relief, an
injunction prohibiting the transactions contemplated by the Merger
Agreement, rescission, to the extent already implemented, of the
terms of the Merger Agreement, damages to the members of the
putative class, attorneys' fees, and experts' fees.  Statoil and
Purchaser believe the Thompson Complaint is without merit and
intend to defend themselves vigorously.

                     About Brigham Exploration

Austin, Texas-based Brigham Exploration Company (NASDAQ: BEXP)
-- http://www.bexp3d.com/-- is an independent exploration,
development and production company that utilizes advanced
exploration, drilling and completion technologies to
systematically explore for, develop and produce domestic onshore
oil and natural gas reserves.  In late 2007, the majority of the
Company's drilling capital expenditures shifted from its
historically active areas in the Onshore Gulf Coast, the Anadarko
Basin and West Texas to the Williston Basin in North Dakota and
Montana, where the Company is currently targeting the Bakken,
Three Forks and Red River objectives.

The Company reported net income of $42.89 million on
$169.72 million of revenue for the year ended Dec. 31, 2010,
compared with a net loss of $122.99 million on $70.34 million of
revenue during the prior year.

The Company's balance sheet at June 30, 2011, showed $1.60 billion
in total assets, $931.54 million in total liabilities and
$668.94 million in total stockholders' equity.

                           *     *     *

As reported by the TCR on Feb. 18, 2011, Moody's Investors Service
upgraded Brigham Exploration Company's Corporate Family Rating to
B3 from Caa1 and the Probability of Default Rating to B3 from
Caa1.  "The primary driver for the upgrade is Brigham's strong
reserve and production growth and significant financial
flexibility," said Francis J.  Messina, Moody's Vice President.
"The B3 Corporate Family Rating is prospective and it incorporates
Moody's expectation that the company will significantly increase
proved developed reserves and production rates over the next two
years."


BROWNSTONE LOFTS: Automatic Stay Doesn't Apply in Oakland Property
------------------------------------------------------------------
The Hon. Dennis Montali of the U.S. Bankruptcy Court for the
Northern District of California affirmed that the automatic stay
in the Chapter 11 case of Brownstone Lofts LLC, does not apply to
that property known as 1919-1925 Martin Luther King Junior Way,
Oakland, California.

The Court stated that secured creditor Cathay Bank may immediately
enforce its remedies, including, without limitation, by conducting
a foreclosure sale and obtaining possession of the subject
property in accordance with applicable other non-bankruptcy law.

Cathay Bank is represented by:

         Michael Gerard Fletcher, Esq.
         Bernard R. Given, II
         Jeanne C. Wanlass, Esq.
         Nicholas A. Merkin, Esq
         FRANDZEL ROBINS BLOOM & CSATO, L.C.
         6500 Wilshire Boulevard, Seventeenth Floor
         Los Angeles, CA 90048-4920
         E-mail: mfletcher@frandzel.com
                 bgiven@frandzel.com
                 jwanlass@frandzel.com
                 nmerkin@frandzel.com

                   About Brownstone Lofts LLC

San Mateo, California-based Brownstone Lofts LLC filed for Chapter
11 bankruptcy (Bankr. N.D. Calif. Case No. 11-33495) on Sept. 26,
2011.  Judge Dennis Montali presides over the case.  Gregory A.
Rougeau, Esq. -- rougeau@mrlawsf.com -- at the Law Offices of
Manasian and Rougeau, serves as the Debtor's counsel.  The Debtor
disclosed $29,040,050 in assets and $14,189,156 in liabilities.
The petition was signed by Monica Hujazi, managing member.


BROWNSTONE LOFTS: Files Schedules of Assets and Liabilities
-----------------------------------------------------------
Brownstone Lofts LLC filed with the U.S. Bankruptcy Court for the
Northern District of California its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $20,000,000
  B. Personal Property            $9,040,050
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $12,469,015
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                        $1,720,141
                                 -----------      -----------
        TOTAL                    $29,040,050      $14,189,156

                     About Brownstone Lofts LLC

San Mateo, California-based Brownstone Lofts LLC filed for Chapter
11 bankruptcy (Bankr. N.D. Calif. Case No. 11-33495) on Sept. 26,
2011.  Judge Dennis Montali presides over the case.  Gregory A.
Rougeau, Esq. -- rougeau@mrlawsf.com -- at the Law Offices of
Manasian and Rougeau, serves as the Debtor's counsel.  In its
petition, the Debtor estimated $10 million to $50 million in
assets and debts.  The petition was signed by Monica Hujazi,
managing member.


BROWNSTONE LOFTS: Wants Unit's Case Transferred to Judge Montali
----------------------------------------------------------------
Brownstone Lofts LLC, asks the U.S. Bankruptcy Court for the
Northern District of California to approve a stipulation with the
Debtor in instant case, Uptown/Sterling Towers, LLC, and secured
creditor Cathay Bank.

The stipulation provides that:

   -- Uptown is an affiliate of Brownstone; and

   -- the transfer and reassignment of the Uptown case from the
   Hon. Thomas E. Carlson to the Hon. Dennis Montali, the judge
   presiding over the Brownstone case would promote efficient
   administration of the estates and avoid conflicting and
   inconsistent rulings.

                   About Brownstone Lofts LLC

San Mateo, California-based Brownstone Lofts LLC filed for Chapter
11 bankruptcy (Bankr. N.D. Calif. Case No. 11-33495) on Sept. 26,
2011.  Judge Dennis Montali presides over the case.  Gregory A.
Rougeau, Esq. -- rougeau@mrlawsf.com -- at the Law Offices of
Manasian and Rougeau, serves as the Debtor's counsel.  The Debtor
disclosed $29,040,050 in assets and $14,189,156 in liabilities.
The petition was signed by Monica Hujazi, managing member.


CABI SMA: Deadline for Amended Plan Disclosures Today
-----------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Florida has
denied approval of the revised disclosure statement, filed
Oct. 11, 2011, explaining CABI SMA Tower I, LLP's Modified First
Amended Plan of Reorganization.

Judge Cristol also denied the disclosure statement filed April 27
and the Disclosure Statement filed Aug. 19.

The Court directed the Debtor to file a further amended Disclosure
Statement before Nov. 22, 2011.

The Plan provides for a restructuring of the Debtor's financial
obligations.  The Debtor believes that the proposed restructuring
will provide the Debtor with the necessary liquidity to compete
effectively in today's business environment, in connection with
the development of a mixed-use project consisting of retail,
office, hospitality, and entertainment facilities.

The Plan is premised upon the funding of (i) up to $4,870,000 on
the Effective Date in order to consummate the Plan and (ii)
shortfalls, if any, from additional equity contributions by Newco
or development financing by Newco.  The specific names of the
entities which will provide the Equity Contribution and the
Development Financing will be provided in the Plan Supplement.

The Plan Investors will make the Equity Contribution and the
Development Financing via a newly formed limited liability
company, Teca Group Investments LLC.

Under the Plan, the Holders of Class 1 (Priority Non-Tax Claims),
Class 2 (Other Secured Claims), and Class 3 (Secured Tax
Certificate Claims) are unimpaired and conclusively presumed to
accept the Plan.

The holders of equity interests in Class 9 (Old Equity Interests)
are deemed to reject the Plan because they receive no distribution
and retain no property interest under the Plan.

Class 4 (Allowed Secured Prepetition Loan Claim, Class 5 (Allowed
Secured Claims), Class 6 (Allowed Customer Deposit Claims),
Class 7 (Allowed General Unsecured Claims, and Class 8 (Allowed
Deficiency Claim), are all impaired and, thus, entitled to vote.

The Debtor estimates that on the Effective Date, the Allowed
amount of the Allowed Secured Prepetition Claim in Class 4 will be
approximately $14,152,893, or if Brickell Central makes an
election pursuant to Section 1111(b) of the Bankruptcy Code,
$30,516,551.  However, the Allowed amount of the Claim will be
determined from the Appraised Value of the Property and the fair
market value of the other collateral which secures the Claim.

As soon as reasonably practicable on or after the Effective Date,
the Holder of the Allowed Secured Prepetition Loan Claim will
receive either (a) the New Brickell Central Note, if the Holder of
the Allowed Secured Prepetition Note makes an election pursuant to
Section 1111(b) of the Bankruptcy Code, or (b) the New Senior
Note, and from and after the Effective Date, the payments provided
for thereunder, if the Holder of the Allowed Secured Prepetition
Note does not make an election pursuant to Section 1111(b) of the
Bankruptcy Code

Under either the New Brickell Central Note or the New Senior Note,
as applicable, the maturity will be seven years from the Effective
Date.  Interest only payments payable monthly will be made for the
first 3 years, thereafter principal and interest payable monthly,
based upon a thirty-year amortization, until maturity.

The Debtor estimates that on the Effective Date, the amount of
Allowed General Unsecured Claims in Class 7 will aggregate
approximately $2,020,955.  On or as soon as reasonably practicable
after the Effective Date, each Holder of an Allowed General
Unsecured Claim will receive Cash in an amount equal to 15% of the
Allowed Claim.

The Debtor estimates that as of the Effective Date, the amount of
the Allowed Deficiency Claim in Class 8 will be $16,363,658, or if
Brickell Central makes an election pursuant to Section 1111(b) of
the Bankruptcy Code, $0.

As soon as reasonably practicable after the Effective Date and
provided that the Holder of the Secured Prepetition Loan Claim has
not made an election pursuant to Section 1111(b) of the Bankruptcy
Code, the Holder of the Allowed Deficiency Claim will be entitled
to receive the New Junior Note and, from and after the Effective
Date, the payments provided for thereunder.

The New Junior Note provides that both the principal and interest
will be payable at the end of 7 years.

If the Holder of the Secured Prepetition Loan Claim makes an
election pursuant to Section 1111(b) of the Bankruptcy Code, then
Class 8 will not exist and all references in the revised
disclosure statement or in the Plan to Class 8 will be void.

Brickell Central asserts that it may elect to waive its Class 8
unsecured claim and have its entire alleged Claim amount
(consisting of the Class 4 Secured Prepetition Loan Claim
and the Class 8 Deficiency Claim) treated as secured pursuant to
Section 1111(b).  In that case, Brickell Central would be entitled
to receive aggregate payments equal to the full Allowed
amount of its claim under the Plan.

A copy of the revised disclosure statement, filed Oct 11, 2011,
relating to the modified first amended plan of reorganization is
available for free at:

           http://bankrupt.com/misc/cabisma.dkt234.pdf

                      About Cabi SMA Tower I

Based in Miami, Florida, Cabi SMA Tower I, LLLP -- fka Cabi SMA
Retail 1, LLC; Cabi SMA, LLLP; Cabi SMA Tower 2, LLC; Cabi SMA
Tower 2, LLLP; Capital at Brickell; Cabi SMA Retail 2, LLLP; Cabi
SMA Retail 2, LLC; Cabi SMA Tower 1, LLC; and Cabi SMA Retail I,
LLLP -- owns multiple vacant parcels around South Miami Avenue and
S.W. 14th Street in Miami, Florida.  It acquired the parcels to
develop residential, hotel, and retail space, including a
condominium development.  The parcels are being managed by Cabi
Developers, LLC pursuant to a management agreement.

Cabi SMA Tower I filed for Chapter 11 bankruptcy protection
(Bankr. S.D. Fla. Case No. 10-49009) on Dec. 28, 2010.  Mindy A.
Mora, Esq., and Tara V. Trevorrow, Esq., at Bilzin Sumberg Baena
Price & Axelrod, LLP, in Miami, serve as the Debtor's bankruptcy
counsel.  The Debtor estimated its assets and debts at $10 million
to $50 million.

Affiliates Cabi Downtown, LLC (Bankr. S.D. Fla. Case No. 09-27168)
and Cabi New River, LLC (Bankr. S.D. Fla. Case No. 10-49013) filed
separate Chapter 11 petitions.

No creditor's committee has been appointed in Cabi SMA Tower I,
LLLP's Chapter 11 case.


CALYPTE BIOMEDICAL: Delays Filing of Form 10-Q for 3rd Quarter
--------------------------------------------------------------
Calypte Biomedical Corporation was unable to file its Quarterly
Report on Form 10-Q for the quarter ended Sept. 30, 2011, on a
timely basis due to its limited financial resources, thin
staffing, and delays in completing its previous periodic reports
for the last several quarters.

                      About Calypte Biomedical

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

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

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

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

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

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

                        Bankruptcy Warning

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


CANO PETROLEUM: Delays Filing of Form 10-Q for Sept. 30 Quarter
---------------------------------------------------------------
Cano Petroleum, Inc., notified the U.S. Securities and Exchange
Commission that it could not file its quarterly report on Form 10-
Q for the quarter ended Sept. 30, 2011, within the prescribed time
period, because of the Company's inability to timely process the
financial information for the quarter and present it to the
Company's independent registered public accounting firm for review
and comment prior to the filing deadline.

                        About Cano Petroleum

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

The Company reported a net loss of $185.70 million on
$26.12 million of total operating revenues for the year ended
June 30, 2011, compared with a net loss of $11.54 million on
$22.85 million of total operating revenues during the prior year.

The Company's balance sheet at June 30, 2011, showed
$65.43 million in total assets, $118.80 million in total
liabilities, and a $53.36 million total stockholders' deficit.

Hein & Associates LLP, in Dallas, Texas, noted that the Company
has suffered recurring losses from operations and has a net
capital deficiency that raise substantial doubt about its ability
to continue as a going concern.

                        Bankruptcy Warning

In the past, the Company's strategy had been to convert its
estimated proved undeveloped reserves into proved producing
reserves, improve operational efficiencies in its existing
properties and acquire accretive proved producing assets suitable
for secondary and enhanced oil recovery at low cost.  Due to the
Company's current financial constraints, including continued
losses, defaults under the Company's loan agreements and the
Company's Series D Preferred Stock, no available borrowing
capacity, constrained cash flow, negative working capital, and
limited to no other capital availability, the Company is reviewing
strategic alternatives which include the sale of the Company, the
sale of some or all of the Company's existing oil and gas
properties and assets, potential business combinations, debt
restructuring, including recapitalizing the Company, and
bankruptcy.  The Company continues to focus on cash management and
cost reduction efforts to improve both its cash flow from
operations and profitability.


CAPITOL CITY: Incurs $1.4 Million Net Loss in Third Quarter
-----------------------------------------------------------
Capitol City Bancshares, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $1.42 million on $3.65 million of total interest
income for the three months ended Sept. 30, 2011, compared with
net income of $395,726 on $3.89 million of total interest income
for the same period during the prior year.

The Company also reported a net loss of $1.18 million on
$11.07 million of total interest income for the nine months ended
Sept. 30, 2011, compared with net income of $11,108 on
$11.79 million of total interest income for the same period a year
ago.

The Company's balance sheet at Sept. 30, 2011, showed
$297.82 million in total assets, $288.90 million in total
liabilities, and $8.91 million in total stockholders' equity.

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

                        http://is.gd/p4tbQF

                        About Capitol City

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

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


CAPITOL CITY: Amends 5 Million Common Shares Offering
-----------------------------------------------------
Capitol City Bancshares, Inc., filed with the U.S. Securities and
Exchange Commission Amendment No. 1 to Form S-1 registration
statement relating to the Company's offer to sell up to 5,000,000
shares of its common stock for $2.50 per share.  The minimum
purchase for any investor is 200 shares and the maximum purchase
for any investor is 900,000 shares.  The Company has the right, in
its discretion, to accept subscriptions for a lesser or greater
amount.  This offering will terminate on Oct. 1, 2012, or when all
5,000,000 shares of common stock are sold, whichever occurs first.
The Company may, at its sole discretion, extend the offering as
permitted under applicable rules of the Securities and Exchange
Commission.

There is no underwriter involved in this offering.  The Company's
directors and officers will offer and sell the common stock on a
best-efforts basis without compensation.  The Company believes
they will not be deemed to be brokers or dealers due to Rule 3a4-1
under the Securities Exchange Act of 1934.  There is no minimum
number of shares the Company must sell in this offering.  The
proceeds from this offering will be immediately available to the
Company regardless of the number of shares it sells.

A full-text copy of the amended prospectus is available for free
at http://is.gd/eZ0pwg

                         About Capitol City

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

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

The Company's balance sheet at Sept. 30, 2011, showed $297.82
million in total assets, $288.90 million in total liabilities and
$8.91 million in total stockholders' equity.


CARESTREAM HEALTH: Bank Debt Trades at 11% Off in Secondary Market
------------------------------------------------------------------
Participations in a syndicated loan under which Carestream Health,
Inc., is a borrower traded in the secondary market at 89.29 cents-
on-the-dollar during the week ended Friday, Nov. 18, 2011, a drop
of 0.41 percentage points from the previous week according to data
compiled by Loan Pricing Corp. and reported in The Wall Street
Journal.  The Company pays 350 basis points above LIBOR to borrow
under the facility.  The bank loan matures on Feb. 22, 2017, and
carries Moody's B1 rating and Standard & Poor's BB- rating.  The
loan is one of the biggest gainers and losers among 126 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

                      About Carestream Health

Carestream Health, Inc., based in Rochester, New York, supplies
imaging and IT systems to medical and dental communities and other
markets.  Formerly operating as the Health Group division of
Eastman Kodak, the company was acquired by Toronto-based Onex
Corporation and Onex Partners II LP in early 2007.  For the 12
months ended Sept. 30, 2010, Carestream had revenues of $2.3
billion.

As reported by the Troubled Company Reporter on Feb. 18, 2011,
Moody's affirmed the 'B1' corporate family rating of Carestream
Health, Inc.  The 'B1' corporate family rating is supported by the
company's leading market position, large revenue base and
diversified global operations.  The ratings outlook could improve
if the company is able to more than offset the decline in the film
business with growth in its other businesses such that the company
demonstrates sustained revenue and profitability growth.


CARTER'S GROVE: Court to Hold Plan Hearings Feb. 28 to 29
---------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Virginia has
approved the Disclosure Statement, to be amended as set forth in
Court, in support of Carter's Grove, LLC's Amended/Modified
Chapter 11 Plan.  No further hearing on Disclosure Statement is
necessary.

The Court sets the hearing on confirmation for Feb. 28, 2012, at
9:30 a.m., and Feb. 29, 2012, at 9:30 a.m., in Norfalk, Virginia.

A copy of the Disclosure Statement, filed Oct. 14, 2011, is
available for free at:

         http://bankrupt.com/misc/carter'sgrove.dkt79.pdf

As reported in the TCR on Oct. 17, 2011, the Plan provides for all
Allowed Claims to be paid in full.  The Plan also provides that if
the Debtor defaults on any Plan obligations, the Debtor's property
will be sold pursuant to an orderly sale process.  The Minor
Trust, the sole member of the Debtor, will retain its interest in
the Debtor.  The Debtor obtained a recent appraisal that estimates
the fair market value of its sole asset -- Carter's Grove -- at
$15.8 million, which is substantially more than the approximate
$7.3 million in claims asserted against the Debtor.

Class 2 (Secured Claim of CWF), Class 3 (Secured Claim of AVN),
Class 4 (Secured Claim of Sotheby's), and Class 5 (Other Secured
Claims) are impaired under the Plan and are entitled to vote
thereon, unless the claim in that class is disputed.  Class 1
(Other Priority Claims), Class 6 (Unsecured Claims), and Class 7
(Interests) are unimpaired under the Plan and are not entitled to
vote thereon.

                       About Carter's Grove

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

Carter's Grove filed for Chapter 11 bankruptcy protection (Bankr.
N.D. Calif. Case No. 11-30554) on Feb. 14, 2011.  Debra I.
Grassgreen, Esq., and John W. Lucas, Esq., at Pachulski, Stang,
Ziehl, and Jones LLP, San Francisco, Calif.; Robert S. Westermann,
Esq., and Sheila deLa Cruz, Esq., at Hirschler Fleischer, P.C., in
Richmond, Va., serve as the Debtor's bankruptcy counsel.  In its
schedules, the Debtor disclosed $21,156,417 in assets and
$12,490,476 in liabilities.

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


CATALYST PAPER: Incurs $205.7 Million Net Loss in Third Quarter
---------------------------------------------------------------
Catalyst Paper posted a net loss of $205.7 million on sales of
$340.3 million during the third quarter of 2011.  The net loss was
largely due to a $151.0 million impairment charge on the Company's
Snowflake facility.

"We regained momentum this quarter in productivity and operating
rates," said President and CEO Kevin J. Clarke. "And our strong
safety focus helped reduce lost time injuries.  Unfortunately,
these improvements were overshadowed by the magnitude of the
impairment charge at Snowflake, which makes very clear the
relentless pressures on our industry."

Cash flows from operations were negative $38.8 million, compared
with negative $5.4 million in the same quarter a year ago.  This
is due primarily to an increase in non-cash working capital of
$44.5 million which more than offset $5.7 million in cash flows
from operations before changes in non-cash working capital.

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

                       http://is.gd/mLLApb

                       About Catalyst Paper

Catalyst Paper -- http://www.catalystpaper.com/-- manufactures
diverse specialty mechanical printing papers, newsprint and pulp.
Its customers include retailers, publishers and commercial
printers in North America, Latin America, the Pacific Rim and
Europe.  With four mills, located in British Columbia and Arizona,
Catalyst has a combined annual production capacity of 1.9 million
tons.  The Company is headquartered in Richmond, British Columbia,
Canada and its common shares trade on the Toronto Stock Exchange
under the symbol CTL.

The Company posted a net loss of C$398.2 million on sales of
C$1.229 billion during 2010.  The Company's net loss in 2009 was
C$5.6 million on sales of C$1.224 billion.

The Company's balance sheet at March 31, 2011, showed
C$1.64 billion in total assets, C$1.25 billion in total
liabilities, and C$389.60 million in equity.

                           *     *     *

Catalyst Paper carried Moody's Investors Service's 'Caa1'
corporate family rating.  Outlook in Negative.  The Company also
carries Standard & Poor's CCC+ long-term corporate credit rating,
Outlook is Stable.


CATALYST PAPER: Incurs C$205.7 Million Net Loss in Third Quarter
----------------------------------------------------------------
Catalyst Paper Corp. filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 6-K, reporting a net loss
of C$205.70 million on C$340.30 million of sales for the three
months ended Sept. 30, 2011, compared with net earnings of
C$5.60 million on C$322.30 million of sales for the same period a
year ago.

The Company also reported a net loss of C$266.30 million on
C$941.70 million of sales for the nine months ended Sept. 30,
2011, compared with a net loss of C$407.20 million on C$895
million of sales for the same period during the prior year.

The Company's balance sheet at Sept. 30, 2011, showed
C$1.45 billion in total assets, C$1.31 billion in total
liabilities, and C$135.60 million in shareholders' equity.

A full-text copy of the Form 6-K is available for free at:

                        http://is.gd/8ZPuK3

                       About Catalyst Paper

Catalyst Paper -- http://www.catalystpaper.com/-- manufactures
diverse specialty mechanical printing papers, newsprint and pulp.
Its customers include retailers, publishers and commercial
printers in North America, Latin America, the Pacific Rim and
Europe.  With four mills, located in British Columbia and Arizona,
Catalyst has a combined annual production capacity of 1.9 million
tons.  The Company is headquartered in Richmond, British Columbia,
Canada and its common shares trade on the Toronto Stock Exchange
under the symbol CTL.

The Company posted a net loss of C$398.2 million on sales of
C$1.229 billion during 2010.  The Company's net loss in 2009 was
C$5.6 million on sales of C$1.224 billion.

                           *     *     *

Catalyst Paper carried Moody's Investors Service's 'Caa1'
corporate family rating.  Outlook in Negative.  The Company also
carries Standard & Poor's CCC+ long-term corporate credit rating,
Outlook is Stable.


CCB INVESTORS: U.S. Trustee Unable to Form Committee
----------------------------------------------------
The United States Trustee said that an official committee under 11
U.S.C. Sec. 1102 has not been appointed in the bankruptcy case of
CCB Investors Assets Management, LLC, until further notice.  The
U.S. Trustee reserves the right to appoint such a committee should
interest developed among the creditors.

Jupiter, Florida-based CCB Investors Assets Management, LLC, is in
the business of owning and renting 78 boat docks which are part of
a condominium consisting of 90 boat docks.  There are currently 31
leases for 33 boat slips.  The Company filed for Chapter 11
bankruptcy (Bankr. S.D. Fla. Case No. 11-32534) on Aug. 11, 2011.
Judge Erik P. Kimball presides over the case.  Susan D. Lasky,
Esq., at Susan D. Lasky, P.A., serves as the Debtor's counsel.
The petition was signed by Chris Baker, manager.  In its
schedules, the Debtor disclosed $16,227,164 in assets and
$6,845,325 in liabilities.  Secured lender Second Equities Corp.
is represented in the case by L. Louis Mrachek, Esq., at Page,
Mrachek, Fitzgerald & Rose, LI.P.A. LII.


CELL THERAPEUTICS: Four Directors Elected at Annual Meeting
-----------------------------------------------------------
Cell Therapeutics, Inc., announced that at the annual meeting of
shareholders held on Nov. 11, 2011, shareholders elected James A.
Bianco, M.D., Vartan Gregorian, Ph.D., and Frederick W. Telling,
Ph.D. to serve on the Company's Board of Directors until the
Company's 2014 Annual Meeting.  Shareholders also elected Reed V.
Tuckson, M.D. to serve on the Company's Board of Directors until
the Company's 2013 Annual Meeting.

Shareholders approved the proposals to amend the Company's amended
and restated articles of incorporation to increase the total
number of authorized shares and authorized shares of common stock
and to make certain amendments to the Company's 2007 Equity
Incentive Plan, as amended and restated, including an increase the
number of shares available for issuance under the Plan.
Shareholders also approved an advisory proposal on executive
compensation and voted to hold an advisory vote on executive
compensation every three years.  Shareholders ratified the
selection of Marcum LLP as the Company's independent auditors for
the year ending Dec. 31, 2011.

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

                        http://is.gd/TCr6PE

                     About Cell Therapeutics

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

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

The Company also reported a net loss attributable to CTI of
$53.39 million on $0 of revenue for the nine months ended
Sept. 30, 2011, compared with a net loss attributable to CTI of
$62.92 million on $319,000 of total revenues for the same period
during the prior year.

The Company's balance sheet at Sept. 30, 2011, showed
$62.85 million in total assets, $33.89 million in total
liabilities, $13.46 million in common stock purchase warrants, and
$15.49 million total shareholders' equity.

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

                        Bankruptcy Warning

The Company has incurred losses since inception and expect to
generate losses for the next few years primarily due to research
and development costs for Pixuvri, OPAXIO, tosedostat,
brostallicin and bisplatinates.

If the Company receives approval of Pixuvri by the European
Medicines Agency or the Food and Drug Administration, the Company
would anticipate additional commercial expenses associated with
Pixuvri operations.  Accordingly, the Company will need to raise
additional funds and is currently exploring alternative sources of
equity or debt financing.  The Company may seek to raise such
capital through public or private equity financings, partnerships,
joint ventures, disposition of assets, debt financings or
restructurings, bank borrowings or other sources of financing.
However, additional funding may not be available on favorable
terms or at all.  If additional funds are raised by issuing equity
securities, substantial dilution to existing shareholders may
result.  If the Company fails to obtain additional capital when
needed, the Company may be required to delay, scale back, or
eliminate some or all of its research and development programs and
may be forced to cease operations, liquidate its assets and
possibly seek bankruptcy protection.


CENTRAL FEDERAL: Amends Form S-1 Registration Statement
-------------------------------------------------------
Central Federal Corporation filed with the U.S. Securities and
Exchange Commission a Pre-Effective Amendment No. 1 to Form S-1
relating to a rights offering and an offering of common stock to
the public on a best efforts basis at a price of $1.00 per share.
The Company is distributing, at no charge to its stockholders,
non-transferable subscription rights to purchase up to 24,965,000
shares of the Company's common stock.

Each subscription right will entitle stockholders to purchase
6.048 shares of the Company's common stock at the subscription
price of $1.00 per share, which the Company refers to as the basic
subscription privilege.

At the minimum of the offering, the Company expects to contribute
funds to our subsidiary, CFBank, to enable it to exceed all of its
regulatory capital requirements, including the higher capital
requirements imposed by the CFBank Cease and Desist Order
described later in this prospectus, to be considered "well
capitalized."

The Company has separately entered into standby purchase
agreements with certain standby purchasers.  Pursuant to the
standby purchase agreements, the Standby Purchasers have agreed to
acquire from the Company, at the subscription price of $1.00 per
share, a total of 5,035,000 shares of common stock.  The Standby
Purchasers have conditioned their purchase of shares of common
stock upon the receipt by Central Federal Corporation, referred to
as CFC, of $16.5 million in net proceeds from the rights offering
and the public offering, if any.  As a result, the purchase by the
Standby Purchasers (5,035,000 shares of common stock) is
conditioned on the sale by CFC of 17,465,000 shares in the rights
offering and the public offering, if any.  Although the 5,035,000
shares subscribed for by the Standby Purchasers are included in
the registration statement of which this prospectus forms a part,
the shares subscribed for by the Standby Purchasers are in
addition to the up to 24,965,000 shares offered in the rights
offering and the public offering, if any.  The aggregate maximum
number of shares that may be sold in the rights offering, any
public offering and to the Standby Purchasers is 30,000,000.

The Company reserves the right to cancel the rights offering at
any time.  In the event the rights offering is cancelled, all
subscription payments received by the subscription/escrow agent
will be returned promptly, without interest, and the sale to the
Standby Purchasers will not be completed.

The Company may offer any shares of common stock that remain
unsubscribed for at the expiration of the rights offering to the
public at $1.00 per share.  Any public offering of shares of
common stock that remain unsubscribed will be on a best efforts
basis.

The Company's common stock is traded on Nasdaq under the trading
symbol "CFBK."

A full-text copy of the amended Form S-1 is available for free at:

                        http://is.gd/cYycRq

                       About Central Federal

Fairlawn, Ohio-based Central Federal Corporation (Nasdaq: CFBK) is
the holding company for CFBank, a federally chartered savings
association formed in Ohio in 1892.  CFBank has four full-service
banking offices in Fairlawn, Calcutta, Wellsville and Worthington,
Ohio.

The Company's balance sheet at Sept. 30, 2011, showed
$265.4 million in total assets, $254.0 million in total
liabilities, and stockholders' equity of $11.4 million.

                        Regulatory Matters

On May 25, 2011, Central Federal Corporation and CFBank each
consented to the issuance of an Order to Cease and Desist (the
Holding Company Order and the CFBank Order, respectively, and
collectively, the Orders) by the Office of Thrift Supervision
(OTS), the primary regulator of the Holding Company and CFBank at
the time the Orders were issued.

The Holding Company Order requires it, among other things, to: (i)
submit by June 30, 2011, a capital plan to regulators that
establishes a minimum tangible capital ratio commensurate with the
Holding Company's consolidated risk profile, reduces the risk from
current debt levels and addresses the Holding Company's cash flow
needs; (ii) not pay cash dividends, redeem stock or make any other
capital distributions without prior regulatory approval; (iii) not
pay interest or principal on any debt or increase any Holding
Company debt or guarantee the debt of any entity without prior
regulatory approval; (iv) obtain prior regulatory approval for
changes in directors and senior executive officers; and (v) not
enter into any new contractual arrangement related to compensation
or benefits with any director or senior executive officer without
prior notification to regulators.

The CFBank Order required CFBank to have by Sept. 30, 2011, and
maintain thereafter, 8% Tier 1 (Core) Capital to adjusted total
assets and 12% Total Capital to risk weighted assets.  CFBank will
not be considered well-capitalized as long as it is subject to
individual minimum capital requirements.

CFBank did not comply with the higher capital ratio requirements
by the Sept. 30, 2011 required date.


CENTRAL PROGRESSIVE: Closed; First NBC Bank Assumes All Deposits
----------------------------------------------------------------
Central Progressive Bank of Lacombe, La., was closed Friday,
Nov. 18, 2011, by the Louisiana Office of Financial Institutions,
which appointed the Federal Deposit Insurance Corporation as
receiver.  To protect the depositors, the FDIC entered into a
purchase and assumption agreement with First NBC Bank of New
Orleans to assume all of the deposits of Central Progressive Bank.

The 17 branches of Central Progressive Bank will reopen during
their normal business hours as branches of First NBC Bank.
Depositors of Central Progressive Bank will automatically become
depositors of First NBC Bank.  Deposits will continue to be
insured by the FDIC, so there is no need for customers to change
their banking relationship in order to retain their deposit
insurance coverage up to applicable limits.  Customers of Central
Progressive Bank should continue to use their existing branch
until they receive notice from First NBC Bank that it has
completed systems changes to allow other First NBC Bank branches
to process their accounts as well.

As of Sept. 30, 2011, Central Progressive Bank had around $383.1
million in total assets and $347.7 million in total deposits.  In
addition to assuming all of the deposits of the failed bank, First
NBC Bank agreed to purchase around $354.4 million of the failed
bank's assets.  The FDIC will retain the remaining assets for
later disposition.

Customers with questions about the transaction should call the
FDIC toll-free at 1-800-234-9027.  Interested parties also can
visit the FDIC's Web site at

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

The FDIC estimates that the cost to the Deposit Insurance Fund
will be $58.1 million.  Compared to other alternatives, First NBC
Bank's acquisition was the least costly resolution for the FDIC's
DIF.  Central Progressive Bank is the 90th FDIC-insured
institution to fail in the nation this year, and the first in
Louisiana.  The last FDIC-insured institution closed in the state
was Statewide Bank, Covington, on March 12, 2010.


CHEYENNE INDUSTRIAL: Case Summary & 4 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Cheyenne Industrial LLC
        8517 Copper Knoll Ave
        Las Vegas, NV 89129

Bankruptcy Case No.: 11-27880

Chapter 11 Petition Date: November 16, 2011

Court: United States Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Linda B. Riegle

Debtor's Counsel: Randy M. Creighton, Esq.
                  BLACK & LOBELLO
                  10777 W. Twain Ave, 3rd Flr
                  Las Vegas, NV 89135
                  Tel: (702) 869-8801
                  Fax: (702) 869-2669
                  E-mail: rcreighton@blacklobellolaw.com

Scheduled Assets: $700,000

Scheduled Debts: $1,459,785

A list of the Company's four largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/nvb11-27880.pdf

The petition was signed by Rafa David Legisima, managing member.


CHINA GREEN: Incurs $21,363 Net Loss in Third Quarter
-----------------------------------------------------
China Green Creative, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $21,363 on $322,767 of revenue for the three months
ended Sept. 30, 2011, compared with net income of $826,523 on
$1.59 million of revenue for the same period a year ago.

The Company also reported net income of $47,899 on $1.44 million
of revenue for the nine months ended Sept. 30, 2011, compared with
net income of $40,318 on $2.16 million of revenue for the same
period a year ago.

The Company's balance sheet at Sept. 30, 2011, showed
$5.25 million in total assets, $7.46 million in total liabilities,
and a $2.21 million total stockholders' deficit.

Madsen & Associates CPA's, Inc., in Salt Lake City, says China
Green Creative, Inc., does not have the necessary working capital
to service its debt and for its planned activity, which raises
substantial doubt about the Company's ability to continue as a
going concern.

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

                        http://is.gd/vBQsGh

                         About China Green

Shenzhen, China-based China Green Creative, Inc., a Nevada
Corporation, was incorporated on Aug. 17, 2006, under the name of
Glance, Inc.  On Jan. 21, 2009, the Company changed its name to
China Green Creative, Inc.  CGC and its subsidiaries are
principally engaged in the distribution of consumer goods in the
People's Republic of China.


CIRTRAN CORP: Delays Filing of Third Quarter Form 10-Q
------------------------------------------------------
CirTran Corporation informed the U.S. Securities and Exchange
Commission that its quarterly report on Form 10-Q for the quarter
ended Sept. 30, 2011, could not be filed without unreasonable
effort or expense within the prescribed time period because
management's time was diverted to deal with recent action in
pending litigation and disputes with third parties that
unexpectedly precluded management from compiling and verifying the
data required to be included in the report.  The report will be
filed within five days of the date the original report was due.

                      About CirTran Corporation

West Valley City, Utah-based CirTran Corporation (OTC BB: CIRC)
-- http://www.CirTran.com/-- markets and manufactures energy
drinks under the Playboy brand pursuant to a license agreement
with Playboy Enterprises, Inc.  The Company also provides turnkey
manufacturing services and products using various high-tech
applications for electronics manufacturers in various industries.

The Company reported a net loss of $4.95 million on $9.04 million
of net sales for the year ended Dec. 31, 2010, compared with a net
loss of $5.81 million on $9.73 million of net sales during the
prior year.  The Company also reported a net loss of $3.90 million
on $2.08 million of net sales for the six months ended June 30,
2011, compared with a net loss of $2.08 million on $4.09 million
of net sales for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $4.17 million
in total assets, $27.18 million in total liabilities, and a
$23.01 million total stockholders' deficit.

As reported by the TCR on April 21, 2011, Hansen, Barnett &
Maxwell, P.C., Salt Lake City, Utah, noted that the Company has an
accumulated deficit, has suffered losses from operations and has
negative working capital that raise substantial doubt about its
ability to continue as a going concern.


CITY NATIONAL: Delays Filing of Third Quarter Form 10-Q
-------------------------------------------------------
City National Bancshares Corporation has determined that it is
unable to file its quarterly report on Form 10-Q for the quarter
ended Sept. 30, 2011, with the U.S. Securities and Exchange
Commission by the Nov. 14, 2011 due date.  The Company was not
able to file a timely Form 10-Q because it has not completed its
consolidated financial statements and related disclosures for the
quarter ended Sept. 30, 2011.

While the Company is working diligently to file its Form 10-Q and
anticipates filing its Form 10-Q in November 2011, the delay in
completing the financial statements is primarily due to evaluating
the loan and lease assets in the portfolio of the Company's
wholly-owned banking subsidiary, CityNational Bank of New Jersey.
This evaluation is needed in order to accurately quantify the
degree to which these assets are impaired.  Once this review and
evaluation have been completed and the Company's financial
statements are prepared, the Company's independent auditors will
be given the opportunity to complete a review of the Company's
financial statements.

                   About City National Bancshares

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

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

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

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

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


CLAIRE'S STORES: Bank Debt Trades at 14% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which Claire's Stores,
Inc., is a borrower traded in the secondary market at 85.68 cents-
on-the-dollar during the week ended Friday, Nov. 18, 2011, a drop
of 1.19 percentage points from the previous week according to data
compiled by Loan Pricing Corp. and reported in The Wall Street
Journal.  The Company pays 275 basis points above LIBOR to borrow
under the facility.  The bank loan matures on May 29, 2014, and
carries Moody's B3 rating and Standard & Poor's B rating.  The
loan is one of the biggest gainers and losers among 126 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

                      About Claire's Stores

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

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

                           *     *     *

Claire's Stores, Inc., reported a net loss of $29.74 million on
$704.99 million of net sales for the six months ended July 30,
2011, compared with a net loss of $20.64 million on $656.31
million of net sales for the same period a year ago.  The
Company's balance sheet at July 30, 2011, showed $2.83 billion in
total assets, $2.87 billion in total liabilities, and a $40.81
million stockholders' deficit.

                          *     *     *

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

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


CLEAN BURN: Taps Neal Bradsher to Prepare and File 2011 Tax Return
------------------------------------------------------------------
Clean Burn Fuels, LLC, asks the U.S. Bankruptcy Court for the
Middle District of North Carolina for permission to employ Neal,
Bradsher & Taylor, P.A. as accountants to prepare and file the
Debtor's tax return for the year ending Dec. 31, 2011, and to
perform any other services incident thereto.

James E. Neal, a certified public accountant and a member in the
firm, tells the Court that no compensation has been received by
the firm from the Debtor or any other person on said account.

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

                         About Clean Burn

Founded in 2005, Clean Burn Fuels LLC is the first company to
produce ethanol in North Carolina.  It completed the construction
of its ethanol plant in August 2010 and started producing and
selling ethanol and dried distillers grains with solubles (DDGS)
shortly thereafter.

Clean Burn filed for Chapter 11 bankruptcy protection (Bankr.
M.D.N.C. Case No. 11-80562) on April 3, 2011.  John A. Northen,
Esq., at Northen Blue, L.L.P., represents the Debtor.

In its schedules of assets and liabilities, the Company disclosed
$79,516,062 in assets and $79,218,681 in liabilities.  The
schedules valued its ethanol plant at $72,000,000, securing at
$66,225,571 claim by a lender.

The Official Committee of Unsecured Creditors is represented by
Charles M. Ivey, III, Esq., at Ivey McClellan Gatton & Talcott,
LLP, in Greensboro, North Carolina.


CLEAR CHANNEL: Bank Debt Trades at 23% Off in Secondary Market
--------------------------------------------------------------
Participations in a syndicated loan under which Clear Channel
Communications, Inc., is a borrower traded in the secondary market
at 77.30 cents-on-the-dollar during the week ended Friday,
Nov. 18, 2011, a drop of 0.87 percentage points from the previous
week according to data compiled by Loan Pricing Corp. and reported
in The Wall Street Journal.  The Company pays 365 basis points
above LIBOR to borrow under the facility.  The bank loan matures
on Jan. 30, 2016, and carries Moody's Caa1 rating and Standard &
Poor's CCC+ rating.  The loan is one of the biggest gainers and
losers among 126 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.

                 About CC Media and Clear Channel

San Antonio, Tex.-based CC Media Holdings, Inc. (OTC BB: CCMO) --
http://www.ccmediaholdings.com/-- is the parent company of Clear
Channel Communications, Inc.  CC Media Holdings is a global media
and entertainment company specializing in mobile and on-demand
entertainment and information services for local communities and
premier opportunities for advertisers.  The Company's businesses
include radio and outdoor displays.

CC Media has three reportable business segments: Radio
Broadcasting; Americas Outdoor Advertising; and International
Outdoor Advertising.  Approximately half of CC Media's revenue is
generated from its Radio Broadcasting segment.

The Company reported a net loss of $462.8 million on $5.866
billion of revenue for the fiscal year ended Dec. 31, 2010,
compared with a net loss of $4.049 billion on $5.552 billion of
revenue for 2009.  Clear Channel had a net loss of $259.06 million
on $4.50 billion of revenue for the nine months ended Sept. 30,
2011.

The Company's balance sheet at Sept. 30, 2011, showed $16.51
billion in total assets, $23.96 billion in total liabilities and a
$7.45 billion total member's deficit.

                          *     *     *

CC Media Holdings carries 'CCC+' issuer credit ratings from
Standard & Poor's.  Clear Channel Carries a Caa2' corporate family
rating from Moody's Investors Service and an issuer default rating
of 'CCC' from Fitch Ratings.

Fitch said in November 2010, that its ratings concerns center on
the company's highly leveraged capital structure, with significant
maturities in 2014 and 2016; the considerable interest burden that
pressures free cash flow generation; technological threats and
secular pressures in radio broadcasting; and the company's
exposure to cyclical advertising revenue.  The ratings are
supported by the company's leading position in both the outdoor
and radio industries, as well as the positive fundamentals and
digital opportunities in the outdoor advertising space.

In February 2011, Standard & Poor's affirmed its 'CCC+' corporate
credit rating and positive outlook on CC Media Holdings and
operating subsidiary Clear Channel, which S&P views on a
consolidated basis.

S&P said the 'CCC+' corporate credit rating on CC Media Holdings
Inc. reflects the risks surrounding the longer-term viability of
the company's capital structure--in particular, refinancing risk
relating to sizable secured debt maturities in 2014 ($3.2 billion
pro forma for the transaction) and 2016 ($10.4 billion).  In S&P's
view, the company has a satisfactory business risk profile, due to
its position as the largest radio and global outdoor advertising
operator, its good geographic and market diversity, and moderate
long-term growth prospects at the outdoor business.  S&P views the
financial risk profile as highly leveraged, given the company's
significant refinancing risk, roughly break-even EBITDA coverage
of interest expense, and slim discretionary cash flow.


CLOCK TOWER: Case Summary & 7 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Clock Tower Center, LLC
        P.O. Box 125
        Minden, NV 89423

Bankruptcy Case No.: 11-53518

Chapter 11 Petition Date: November 16, 2011

Court: United States Bankruptcy Court
       District of Nevada (Reno)

Judge: Bruce T. Beesley

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

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

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

A list of the Company's seven largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/nvb11-53518.pdf

The petition was signed by Michael Jarrett, manager.


COMMERCIAL VEHICLE: Arnold Siemer Appointed to Board of Directors
-----------------------------------------------------------------
The Board of Directors of Commercial Vehicle Group, Inc.,
increased the size of the Board from seven to eight and, upon
recommendation from the Nominating and Corporate Governance
Committee, appointed Arnold Siemer to fill the newly created
vacancy as a Class II director.  Mr. Siemer has also been
appointed by the Board to serve on its Nominating and Corporate
Governance Committee and its Compensation Committee.

Mr. Siemer will receive an annual cash retainer of $55,000 for
service on the Board.

Mr. Siemer has been the owner of Desco Corporation since 1967.
Desco Corporation and its affiliated companies are a group of
diversified manufacturing and technology companies with facilities
in the United States, Europe and Asia.

"We are fortunate to have someone with Al's experience join our
board," stated Richard A. Snell, Chairman of the Board of
Commercial Vehicle Group, Inc.  "He is a seasoned executive with
significant experience in finance, domestic and international
operations and manufacturing and will be a valuable addition to
the board," added Mr. Snell.

                  About Commercial Vehicle Group

New Albany, Ohio-based Commercial Vehicle Group, Inc., (Nasdaq:
CVGI) supplies fully integrated system solutions for the global
commercial vehicle market, including the heavy-duty truck market,
the construction and agricultural markets, and the specialty and
military transportation markets.  The Company has facilities
located in the United States in Arizona, Indiana, Illinois, Iowa,
North Carolina, Ohio, Oregon, Tennessee, Virginia and Washington
and outside of the United States in Australia, Belgium, China,
Czech Republic, Mexico, Ukraine and the United Kingdom.

The Company's balance sheet at Sept. 30, 2011, showed
$400.79 million in total assets, $391.26 million in total
liabilities and $9.52 million total stockholders' investment.

                          *     *     *

In the Oct. 4, 2011, edition of the TCR, Moody's Investors Service
upgraded Commercial Vehicle Group, Inc.'s Corporate Family Rating
to B2 from B3, and Probability of Default Rating to B2 from B3.
The B2 CFR reflects modest size, relatively high debt leverage,
and exposure to highly cyclical commercial vehicle end markets.
Demand for commercial vehicle components is primarily sensitive to
economic cycles, fleet age, and regulatory implementation
schedules.  The CFR considers the substantial cash balance and
absence of funded debt maturities until 2019.  Moody's recognizes
CVGI's demonstrated ability to manage its cost structure and
working capital position to minimize cash burn in a challenging
economic environment.  Moody's believes the company is positioned
to benefit from additional modest improvement in commercial
vehicle build rates at least through mid 2012 and has sufficient
liquidity to support associated working capital needs.

As reported by the TCR on April 12, 2011, Standard & Poor's
Ratings Services said it raised its corporate credit rating on New
Albany, Ohio-based Commercial Vehicle Group Inc. (CVG) to 'B-'
from 'CCC+'.  "The upgrade reflects our assumption that CVG can
improve EBITDA and cash flow in the next two years, because we
believe commercial truck production volumes will continue to rise
year-over-year in 2011 and 2012," said Standard & Poor's credit
analyst Nancy Messer.  Heavy-duty truck production increased by a
meaningful 30% in 2010, leading to a 30% year-over-year sales
increase.


COMMUNITY TOWERS: Files Schedules of Assets and Liabilities
-----------------------------------------------------------
Community Towers I, LLC, et al., filed with the U.S. Bankruptcy
Court for the Northern District of California, its schedules of
assets and liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $50,000,000
  B. Personal Property            $1,939,720
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $38,905,806
  E. Creditors Holding
     Unsecured Priority
     Claims
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                          $573,978
                                 -----------      -----------
        TOTAL                    $51,939,720      $39,479,784

                    About Community Towers I LLC

Community Towers I LLC is a real estate investment company.
Community Towers I LLC and various affiliates -- Community Towers
II, LLC, Community Towers III, LLC, Community Towers IV, LLC --
filed a Chapter 11 petition (Bankr. N. D. Calif. Lead Case No. 11-
58944) on Sept. 26, 2011, in San Jose, California.  John Walshe
Murray, Esq., at the Law Offices of Murray and Murray, in
Cupertino, California, serves as counsel to the Debtor.  Community
Towers I LLC estimated up to $50 million in both assets and debts.


CONQUEST PETROLEUM: Financial Trouble Causes Delay in Q3 Filing
---------------------------------------------------------------
Conquest Petroleum Incorporated said that its Form 10-Q for the
quarter ended Sept. 30, 2011, will be, at the best, delayed.  For
some time, current management has been attempting to raise funds
to monetize in ground assets and settle past obligations.  Those
efforts have been largely unsuccessful.  Several parties have
sought and obtained judgments against the Company.  Recently, one
of those parties, PKF, the accounting firm retained by past
management to prepare financials associated with becoming publicly
traded, filed a Writ of Garnishment which effectively froze the
bank accounts of the Company.  With the Company unable to utilize
the small amount of cash it has left; day to day matters, such as
paying the remaining employees, paying rent, and paying for the
current audit firm to prepare its portion of the 3rd quarter
filing cannot be satisfied.

Robert D. Johnson, the CEO and Chairman of the Company stated,
"The new management team has been gratified that the Company's
creditors and shareholders for the most part have been gracious
and patient with its attempts to turn the Company around.  In
light of this recent occurrence, we must now evaluate all options
available."

                      About Conquest Petroleum

Spring, Tex.-based Conquest Petroleum Incorporated (OTC BB: CQPT)
-- http://www.conquestpetroleum.com/-- is an independent oil and
natural gas company engaged in the production, acquisition and
exploitation of oil and natural gas properties geographically
focused on the onshore United States.  The Company's operational
focus is the acquisition, through the most cost effective means
possible, of production or near production of oil and natural gas
field assets.  The Company's areas of operation include Louisiana
and Kentucky.

The Company reported a net loss of $14.49 million on $1.24 million
of total revenues for the year ended Dec. 31, 2010, compared with
a net loss of $23.26 million on $914,781 of total revenues during
the prior year.

The Company's balance sheet at June 30, 2011, showed $2 million in
total assets, $31.24 million in total liabilities, and a
$29.24 million total stockholders' deficit.

As reported by the TCR on April 21, 2011, M&K CPAS, PLLC, in
Houston, Texas, noted that Conquest Petroleum has insufficient
working capital and reoccurring losses from operations, all of
which raises substantial doubt about its ability to continue as a
going concern.


CORDIA COMMUNICATIONS: Notifies Court of Change of Mailing Address
------------------------------------------------------------------
Cordia Communications Corp., et al., notified the U.S. Bankruptcy
Court for the Middle District of Florida of the change in their
mailing address.

The Debtors inform the Court and parties-in-interest to direct all
future correspondence, pleadings, motions, notices, orders and
other papers for the Debtors to this address effective
immediately:

         Cordia Communications Corp., et al.
         c/o Joseph Luzinski
         Development Specialists, Inc.
         200 S. Biscayne Blvd., Suite 1818
         Miami, FL 33131

                   About Cordia Communications

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

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

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


CROSS BORDER: Board Adopts Amendment to Company's Bylaws
--------------------------------------------------------
The Board of Directors of Cross Border Resources, Inc.,
unanimously adopted an amendment to the Company's Bylaws adding
Article XIII ? Acquisition of a Controlling Interest.

The Amendment generally provides that any person who acquires more
than 30% of the outstanding stock of the Company obtains only
those voting rights as are conferred by a resolution of the
stockholders of the Corporation approved by the holders of a
majority of the voting power of the Corporation excluding certain
shares of the acquirer.

If the acquirer's shares are accorded full voting rights, any
stockholder (other than the acquirer) whose shares are not voted
in favor of authorizing voting rights for the acquirer, may
require the Company to purchase those shares at a purchase price
equal to the fair value of his, her or its shares.  Fair value is
defined by the amendment but is in no case less than the highest
price the acquirer paid for his, her or its shares.

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

                        http://is.gd/G7Cm9f

                   About Cross Border Resources

Cross Border Resources, Inc. f/k/a Doral Energy Corp. (OTC BB:
DRLY) -- http://www.DoralEnergy.com/-- is a licensed oil and gas
operator in the state of New Mexico.  The Company is headquartered
in Midland, Texas.

The Company's balance sheet at Sept. 30, 2011, showed
$25.92 million in total assets, $7.88 million in total liabilities
and $18.04 million in total stockholders' equity.

As reported in the Troubled Company Reporter on Nov. 23, 2010,
MaloneBailey, LLP, in Houston, Texas, expressed substantial doubt
about Doral Energy's ability to continue as a going concern
following the Company's results for the fiscal year ended July 31,
2010.  The independent auditors noted that the Company has
negative working capital and recurring losses from operations.


CRYSTAL CATHEDRAL: Will Sell Property to Diocese for $57.7 Million
------------------------------------------------------------------
Luiza Oleszczuk at Christian Post reports that Crystal Cathedral
Ministries' Garden Grove, California, property will be sold to the
Roman Catholic Diocese of Orange for $57.5 million.

The report says once the property is sold, the congregation will
have three years to find new premises.

According to the report, Chapman University, the secular bidder,
has been the preferred buyer as far as the church members are
concerned.  That is because Chapman would allow the ministry to
continue to use the main buildings on the premises.  It also
offered the option of allowing church administrators to buy the
property back at a later point.

Los Angeles Times relates that Chapman had pressed its case with a
newly escalated bid of $59 million, only to complain that it had
been blindsided by the Crystal Cathedral board, which came down
firmly on the side of the Catholic Church.

                      About Crystal Cathedral

Crystal Cathedral Ministries is a Southern California-based
megachurch founded by television evangelist Robert Schuller.  The
church, known for its television show "The Hour of Power."

Mr. Schuller retired from his role as senior pastor of Crystal
Cathedral in 2006. His daughter Sheila Schuller Coleman has been
senior pastor since July 2009.  Contributions declined 24% in
2009, in part on account of "unsettled leadership."

Crystal Cathedral filed for Chapter 11 bankruptcy protection
(Bankr. C.D. Calif. 10-24771) on Oct. 18, 2010.  The Debtor
disclosed $72,872,165 in assets and $48,460,826 in liabilities as
of the Chapter 11 filing.  Marc J. Winthrop, Esq., at Winthrop
Couchot P.C. represents the Debtor.

Todd C. Ringstad, Esq., at Ringstad & Sanders, LLP, represents the
Official Committee of Unsecured Creditors.


CUI GLOBAL: Posts $424,323 Consolidated Net Profit in Q3
--------------------------------------------------------
CUI Global, Inc., filed with the U.S. Securities and Exchange
Commission its Quarterly Report on Form 10-Q reporting
consolidated net profit of $424,323 on $10.72 million of total
revenue for the three months ended Sept. 30, 2011, compared with a
consolidated net loss of $54,586 on $9.76 million of total revenue
for the same period a year ago.

The Company reported a net loss of $7.5 million on $40.9 million
of revenues for 2010, compared with a net loss of $16.0 million on
$28.9 million of revenues for 2009.

The Company also reported consolidated net profit of $177,961 on
$30.14 million of total revenue for the nine months ended
Sept. 30, 2011, compared with a consolidated net loss of $3.41
million on $26.28 million of total revenue for the same period a
year ago.

The Company's balance sheet at Sept. 30, 2011, showed
$32.78 million in total assets, $20.07 million in total
liabilities, and $12.70 million in total stockholders' equity.

As reported by the TCR on April 8, 2011, Webb & Company, in
Boynton Beach, Florida, expressed substantial doubt about CUI
Global's ability to continue as a going concern.  The independent
auditors noted that the Company has a net loss of $7,015,896, a
working capital deficiency of $675,936 and an accumulated deficit
of $73,596,738 at Dec. 31, 2010.

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

                        http://is.gd/JX5LFR

                          About CUI Global

Tualatin, Ore.-based CUI Global, Inc., formerly known as Waytronx,
Inc., is a platform company dedicated to maximizing shareholder
value through the acquisition, development and commercialization
of new, innovative technologies.


CULLIGAN INT'L: Bank Debt Trades at 30% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Culligan
International Co. is a borrower traded in the secondary market at
69.80 cents-on-the-dollar during the week ended Friday, Nov. 18,
2011, an increase 0.90 percentage points from the previous week
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  The Company pays 225 basis points above
LIBOR to borrow under the facility.  The bank loan matures on
Oct. 16, 2012, and carries Moody's Caa2 rating and Standard &
Poor's CCC+ rating.  The loan is one of the biggest gainers and
losers among 126 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.

                   About Culligan International

Culligan International Co. is a water services provider based in
Rosemont, Illinois.  The company distributes its products
primarily through an extensive dealer network.

                          *     *     *

As reported by the Troubled Company Reporter on May 25, 2011,
Standard & Poor's lowered its ratings on Culligan International
Co., including its corporate credit rating to 'CCC+' from 'B-'.
"At the same time, we revised our recovery ratings on the
company's first-lien credit facilities to '4' from '3'.  The
negative outlook reflects the company' continued very weak
operating performance, as well as uncertainty about Culligan's
ability to meet future liquidity needs given its significant
refinancing risk within the next 11-19 months," S&P stated.

The ratings on Culligan reflect the company's very highly
leveraged financial profile, which includes significant
refinancing risk.  The rating outlook is negative, reflecting
Culligan's significant refinancing risk, as well as Standard &
Poor's belief that the company's financial performance will
continue to be hurt by the lingering weak macroeconomic
environment.

On May 16, 2011, the TCR reported that Moody's has lowered the
corporate family rating (CFR) and probability of default rating of
Culligan International Company to Caa3 from Caa1.  At the same
time, the ratings on the first lien facilities were lowered to
Caa2 from B3 and the rating on the second lien term loan was
lowered to Ca from Caa3.  The ratings outlook is negative.

The downgrade of the CFR to Caa3 reflects Moody's expectation that
Culligan's default risk will continue to increase over the next
twelve to eighteen months as the maturities of its revolver and
term loan approach in May 2012 and November 2012, respectively.
The Caa3 rating reflects this heightened risk of default as well
as the company's high leverage, roughly 15.0x, weakness in its
operating performance and ongoing cash consumption.  Moody's
anticipates that existing cash balances, revolver availability
(through March 2012) and expected proceeds from the sale of its
company owned dealerships in North America should fund operations
through the maturity of the term loan.  However, given the
approaching debt maturities and an over-leveraged capital
structure, Moody's anticipates that a distressed exchange,
bankruptcy or a payment default over the next eighteen months is
possible.


CUMULUS MEDIA: AR Broadcasting Affiliates in Chapter 11
-------------------------------------------------------
Katy Stech, writing for Dow Jones' Daily Bankruptcy Review,
reports that radio giant Cumulus Media Inc. put four financially
struggling Missouri and Texas radio stations into Chapter 11
bankruptcy protection Thursday to restructure the debt-heavy
finances of the subsidiary companies that control them.

AR Broadcasting Holdings Inc., which is owned entirely by Cumulus
Media, filed for Chapter 11 protection (Bankr. D. Del. Case No.
11-13674) after struggling to pay off debts that topped $97
million as of June 30.  Holdings estimated debts between $50
million and $100 million but said assets are worth less than $50
million.  Affiliates AR Broadcasting and AR Licensing also filed
for bankruptcy.

Judge Brendan Linehan Shannon has been assigned the case.

According to the report, Chief Accounting Officer Linda A. Hill
blamed the company's financial hardship on revenues that fell
after two of the company's Houston radio station towers were
knocked down during Hurricane Ike in 2008.  The company's finances
were also hurt by the nationwide decline in advertising spending,
she said.

DBR notes company executives negotiated a deal with the company's
lenders on how the company's debt should be restructured -- a deal
that has already gotten full support of the creditors the company
says were entitled to vote.

DBR relates that the company's bankruptcy attorney William E.
Chipman, Jr., reached by phone, declined to explain how the
negotiated deal would shift ownership in the radio stations.

                        About Cumulus Media

Based in Atlanta, Georgia, Cumulus Media Inc. (NASDAQ: CMLS) --
http://www.cumulus.com/-- is the second largest radio broadcaster
in the U.S. based on station count, operating 570 stations in 120
cities.  Early in 2011, it acquired rival Citadel Broadcasting
Corp. for $1.4 billion in cash and issued 22.5 million shares of
Class A common stock and warrants to purchase roughly 47.7 million
shares of common stock to Citadel security holders.

The Company's balance sheet at Sept. 30, 2011, showed
$4.07 billion in total assets, $3.65 billion in total liabilities,
$110.93 million in total redeemable preferred stock, and
$306.39 million in total stockholders' equity.

                          *     *     *

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

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


CYBEX INTERNATIONAL: Nasdaq Grants Request for Continued Listing
----------------------------------------------------------------
As previously reported, on Oct. 4, 2011, Cybex International,
Inc., received a determination letter from The Nasdaq Stock Market
indicating that the Company's common stock was subject to
delisting from Nasdaq because it failed to comply with the minimum
stockholders' equity requirement of $10 million as required by
Nasdaq Listing Rule 5450(b)(1)(A).  As also previously reported,
on June 16, 2011, Nasdaq notified the Company that it does not
comply with the minimum bid price requirement of $1 per share for
continued listing on Nasdaq and afforded the Company 180 calendar
days, or until Dec. 13, 2011, to regain compliance with the
minimum bid price continued listing requirement.

The Company requested a hearing before a Nasdaq Hearings Panel to
review the Determination Letter, which request stayed the
suspension of the Company's common stock. The hearing was held on
Nov. 10, 2011.

At the hearing, the Company presented a plan to regain compliance
with both the minimum stockholders' equity requirement and the
minimum bid price requirement and requested that the Panel allow
it additional time within which to regain compliance.

On Nov. 15, 2011, the Company received a letter from Nasdaq
notifying the Company that the Panel granted the Company's request
for continued listing on Nasdaq, subject to the following
conditions:

   * Stockholders' Equity Requirement.  On or before Jan. 2, 2012,
     the Company must publicly announce on a Form 8-K its
     stockholders' equity, which will be $10 million or greater.

   * Minimum Bid Price Requirement.  On or before March 12, 2012,
     the Company will have evidenced a closing bid price above
     $1.00 for a minimum of 10 consecutive trading days.

In order to fully comply with the terms of this exception, the
Company must be able to demonstrate compliance with all
requirements for continued listing on Nasdaq.  In the event the
Company is unable to do so, its securities may be delisted from
Nasdaq.

                     About Cybex International

Medway, Mass.-based Cybex International, Inc. (NASDAQ: CYBI)
-- http://www.cybexintl.com/--is a manufacturer of exercise
equipment and develops, manufactures and markets strength and
cardiovascular fitness equipment products for the commercial and,
to a lesser extent, consumer markets.

The net loss was $454,000 on $97.1 million of net sales for the
nine months ended Sept. 24, 2011, compared with a net loss of
$1.1 million on $83.0 million of net sales for the nine months
ended Sept. 25, 2010.

The Company's balance sheet at Sept. 24, 2011, showed
$87.8 million in total assets, $103.0 million in total
liabilities, and a stockholders' deficit of $15.2 million.

As reported in the TCR on April 8, 2011, KPMG LLP, in Pittsburgh,
Pa., expressed substantial doubt about Cybex International's
ability to continue as a going concern, following the Company's
results for the fiscal year ended Dec. 31, 2010.  The independent
auditors noted that a December 2010 jury verdict in a product
liability suit apportions a significant amount of liability to the
Company.  "The Company does not have the resources to satisfy a
judgment in this matter that has not been substantially reduced
from the jury verdict, which raises substantial doubt about the
Company's ability to continue as a going concern."


D&R PRINTING: Case Summary & 4 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: D&R Printing, Inc.
        2410 Iorio Court
        Union, NJ 07083

Bankruptcy Case No.: 11-43167

Chapter 11 Petition Date: November 16, 2011

Court: United States Bankruptcy Court
       District of New Jersey (Newark)

Judge: Rosemary Gambardella

Debtor's Counsel: Nancy Isaacson, Esq.
                  GREENBAUM, ROWE, SMITH & DAVIS, LLP
                  75 Livingston Ave
                  Roseland, NJ 07068
                  Tel: (973) 535-1600
                  E-mail: nisaacson@greenbaumlaw.com

Scheduled Assets: $791,860

Scheduled Debts: $1,705,355

A list of the Company's four largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/njb11-43167.pdf

The petition was signed by Dorothy Dubrow, president.

Affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Dubrow, Inc. t/a Prestige Graphics     10-37465   09/03/10


DADDY'S JUNKY: To File for Bankruptcy After Closing All 12 Outlets
------------------------------------------------------------------
Cameron Kittle at Nashua Telegraph reports that James Boffetti,
Senior Assistant Attorney General of New Hampshire, said Daddy's
Junky Music abruptly closed all 12 stores on Oct. 26, 2011, and is
planning to file for bankruptcy.

According to the report, once Daddy's Junky Music files for
bankruptcy, customers with unspent gift certificates can fill out
a form to be listed as a creditor.  Mr. Boffetti said to contact
his office, the Consumer Protection and Antritrust Bureau, at
DOJ-CPB@doj.nh.gov with any questions.

Daddy's Junky Music had four locations in New Hampshire.


DALLAS STARS: Get Approval to Sell Hockey Team to Gaglardi
----------------------------------------------------------
Carla Main, substituting for Bloomberg News bankruptcy columnist
Bill Rochelle, reports that the Dallas Stars won court approval to
sell itself to hotelier Tom Gaglardi for about $50 million in cash
and $100 million in new debt.  U.S. Bankruptcy Judge Peter Walsh
said Nov. 18 at a hearing in Wilmington, Delaware, that he will
approve the sale as part of the Stars' prepackaged restructuring
plan.  The plan was negotiated with creditors before the hockey
team sought bankruptcy protection about two months ago.

The report relates that Mr. Gaglardi, a Vancouver-based
businessman, and his family own Sandman Hotels, Inns & Suites,
Denny's Restaurants and the Western Hockey League's Kamloops
Blazers, according to court documents.  Under his offer, an NHL
affiliate will be repaid about $51 million it loaned the Stars.
Senior lenders owed $250.9 million will be given a new
$100 million note, plus an amount of cash to be calculated later.
Another group of lenders owed $146.2 million will get $500,000 in
cash.  The Stars canceled a bankruptcy auction that was set to
take place Nov. 21 after failing to receive any other offers.

                        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.
KPMG LLP serves as the Debtors' auditor, tax advisor, and
bankruptcy administration consultant.

Dallas Stars LP scheduled $52,035,457 in total assets and
$363,569,191 in liabilities.  StarCenters LLC listed $0 in assets
and $149,640,000 in liabilities.  Dallas Arena LLC listed
$49,017,082 in assets and said debts are undetermined.  Dallas
Stars U.S. Holdings Corp. scheduled $13,036 in assets and
$149,640,000 in debts.

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.


DALLAS STARS: Plan Confirmation Hearing Wednesday
-------------------------------------------------
The bankruptcy court is set to hold a hearing on Nov. 23, 2011, to
consider approval of the disclosure statement and confirmation of
the Joint Prepackaged Plan of Reorganization proposed by Dallas
Stars L.P. and its affiliated debtors.

The primary purpose of the prepackaged plan is to effectuate the
sale of the NHL Stars franchise and certain related assets.

Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the Dallas Stars received two objections to
confirmation of the prepackaged Chapter 11 plan in advance of the
Oct. 25 deadline.  One was from the Internal Revenue Service.  The
second was by General Electric Capital Corp.

Mr. Rochelle notes that GECC has a $6.8 million loan on the team's
practice facility owned by an affiliate not in bankruptcy.  The
property sustained water damage that the insurance company
declined to cover.  GECC, based in Stamford, Connecticut, contends
that the plan improperly cuts off claims against the insurance
company and the affiliate that owns the practice facility.

The IRS believes that the plan incorrectly cuts off the taxing
authority's rights of setoff and recoupment.  The IRS is also
worried that its priority claims won't be paid in full.

Bloomberg News notes that to achieve status as a prepack, the team
solicited acceptances of the plan from creditors before bankruptcy
and signed Vancouver businessman Tom Gaglardi to a contract where
he will purchase the hockey club.  To test if there is a better
offer, other bids were due initially by Oct. 22.  The Stars,
however, canceled a bankruptcy auction that was set to take place
Nov. 21 after failing to receive any other offers.

The contract calls for Mr. Gaglardi to pay off the $51.4 million
loan from the National Hockey League and give a $100 million term
loan payable to holders of the $250.9 million in first-lien debt.

The reorganization plan provides for the holders of $146.2 million
in second-lien debt to share $500,000 cash. Before the bankruptcy
filing, the plan was accepted by all holders of the first-lien
debt and holders of 89.6% of the second-lien obligation.

                        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.
KPMG LLP serves as the Debtors' auditor, tax advisor, and
bankruptcy administration consultant.

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.


DEGAETANO CONCRETE: Case Summary & 19 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: DeGaetano Concrete Company, Inc.
        aka DeGaetano Concrete Contractor
        aka DeGaetano's Concrete Company, Inc.
        1010 North Chew Road
        Hammonton, NJ 08037

Bankruptcy Case No.: 11-43163

Chapter 11 Petition Date: November 16, 2011

Court: United States Bankruptcy Court
       District of New Jersey (Camden)

Judge: Gloria M. Burns

Debtor's Counsel: Ronald Kinzler, Esq.
                  564 Shore Rd.
                  Somers Point, NJ 08244
                  Tel: (609) 927-7965
                  Fax: (609) 927-5191
                  E-mail: kinzlex@aol.com

Scheduled Assets: $250,000

Scheduled Debts: $1,291,606

A list of the Company's 19 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/njb11-43163.pdf

The petition was signed by Sherry DeGaetano, president.


DIABETES AMERICA: Wants Plan Confirmation Hearing Reset to Dec. 5
-----------------------------------------------------------------
Diabetes America, Inc., asks the U.S. Bankruptcy Court for the
Southern District of Texas to:

   i) continue the hearing on confirmation of the Plan until
   Dec. 5, 2011;

  ii) approve the replacement of the date of "Oct. 19, 2011" with
   "Dec. 7, 2011" in Section 9.8 of the EDG Asset Purchase
   Agreement dated Aug. 17, 2011; and

iii) approve the replacement of the date of "Oct. 31, 2011" with
   "Dec. 16, 2011" in Section 9.11 of the APA.

The Debtor states that it has reached an agreement with EDG
Partners Fund II, L.P., the proposed purchaser under the Debtor's
Chapter 11 plan, on an adjusted purchase price, consistent with
the terms of the APA, and a closing to occur in mid-December 2011.
The Debtor seeks continuance of the hearing due to scheduling
conflicts and the need to satisfy certain closing requirements
before confirmation.

The Debtor notes that the Official Committee of Unsecured
Creditors and creditors who filed plan objections conferred to the
requested continuance.  The Debtor believes the relief requested
is necessary to further its efforts to obtain plan confirmation.

According to the Troubled Company Reporter on Sept. 5, 2011, under
the Plan, the Debtor is selling substantially all of its operating
assets.  The Debtor has accepted an offer from EDG Partners Fund
II, L.P. for $4,750,000 cash plus the assumption of up to $925,000
in certain postpetition accrued liabilities.  The offer is subject
to a court-approved bidding process that will determine the
highest and best offer.

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

                     About Diabetes America

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

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

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


DIABETES AMERICA: Court Approves Porter Hedges as New Counsel
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas for
authorized Diabetes America, Inc., to employ Porter Hedges LLP as
counsel.  PH will assume responsibility for all aspects of this
case from Looper Reed & McGraw P.C.

Porter Hedges' services as counsel include:

   -- advising the Debtor with respect to its powers and duties;

   -- advising the Debtor with respect to the rights and remedies
      of the estate's creditors and other parties in interest;

   -- conducting appropriate examinations of witnesses, claimants
      and other parties in interest;

   -- preparing all additional appropriate pleadings and other
      legal instruments required to be filed in this case;

   -- representing the Debtor in all proceedings before the Court
      and in any other judicial or administrative proceeding in
      which the rights of the Debtor or the estate may be
      affected;

   -- advising the Debtor in connection with the formulation,
      solicitation, confirmation and consummation of any plan or
      plan of reorganization which the Debtor may propose; and

   -- performing any other legal services which may be appropriate
      In connection with the continued operation of the Debtor's
      business.

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

   Designations                  Hourly Rates
   ------------                  ------------
   Partners                      $375 - $600
   Counsel                       $400 - $425
   Associates/Staff Attorneys    $225 - $375
   Legal Assistants/Law Clerks   $135 - $195

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

                      About Diabetes America

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

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

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


DIAMOND RANCH: Incurs $126,990 Net Loss in Third Quarter
--------------------------------------------------------
Diamond Ranch Foods, Ltd., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $126,990 on $109,325 of revenue for the three months
ended Sept. 30, 2011, compared with net income of $79,913 on
$1.92 million of revenue for the same period during the prior
year.

The Company also reported a net loss of $430,796 on $1.36 million
of revenue for the six months ended Sept. 30, 2011, compared with
a net loss of $213,068 on $4.13 million of revenue for the same
period a year ago.

The Company's balance sheet at Sept. 30, 2011, showed $974,206 in
total assets, $6.46 million in total liabilities, and a
$5.48 million total stockholders' deficit.

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

                        http://is.gd/leQDzu

                        About Diamond Ranch

Diamond Ranch Foods, Ltd. -- http://www.diamondranchfoods.com/--
is a meat processing and distribution company now located in the
Hunts Point Coop Market, Bronx, New York.  The Company's
operations consist of packing, processing, labeling, and
distributing products to a customer base, including, but not
limited to; in-home food service businesses, retailers, hotels,
restaurants, and institutions, deli and catering operators, and
industry suppliers.

The Company reported a net loss of $547,732 on $7.16 million of
net revenues for the fiscal year ended March 31, 2011, compared
with a net loss of $829,823 on $8.54 million of net revenues
during the prior year.

Gruber & Company, LLC, in Lake Saint Louis, Missouri, noted that
the Company has suffered recurring losses from operations that
raise substantial doubt about its ability to continue as a going
concern.


DOG SOLUTIONS: Files for Chapter 11 Bankruptcy Protection
---------------------------------------------------------
Vicky Garza, staff writer at Austin Business Journal, reports
that A Dog Solutions Inc., an AlphaGraphics Inc. franchisee with
locations in Austin and San Antonio, sought Chapter 11 protection,
citing rocky relationship between a local printer and a bank that
yielded a lawsuit.

According to the report, the struggling printing company owes $1.4
million to its largest creditor, Utah-based Celtic Bank Corp., for
a small business administration loan.  That loan is at the crux of
a lawsuit filed by A Dog Solutions alleging unreasonable debt
collection, defamation, malice and tortious interference.

Based in Austin, Texas, A Dog Solutions Inc., dba AlphaGraphics
#371, filed for Chapter 11 protection on Nov. 9, 2011 (Bankr. W.D.
Tex. Case No. 11-12777).  Judge H. Christopher Mott presides over
the case.  Barbara M. Barron, Esq., and Stephen W. Sather, Esq.,
at Barron & Newburger, P.C., represent the Debtor.  The Debtor
listed assets of $511,036, and liabilities of $3,244,572.


DZF PROPERTIES: Case Summary & Largest Unsecured Creditor
---------------------------------------------------------
Debtor: DZF Properties, LLC
        P.O. Box 33014
        Los Gatos, CA 95031

Bankruptcy Case No.: 11-60649

Chapter 11 Petition Date: November 17, 2011

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

Judge: Arthur S. Weissbrodt

Debtor's Counsel: Charles B. Greene, Esq.
                  LAW OFFICES OF CHARLES B. GREENE
                  84 W Santa Clara St. #770
                  San Jose, CA 95113
                  Tel: (408) 279-3518
                  E-mail: cbgattyecf@aol.com

Scheduled Assets: $12,750,000

Scheduled Debts: $8,661,625

The petition was signed by David Feece, Sr., managing member.

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

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Franchise Tax Board       Gross receipts         $8,191
Special Procedures        taxes
P.O. Box 2952
Sacramento, CA 95812


EASTMAN KODAK: Soliciting Offers for Kodak Gallery
--------------------------------------------------
In an effort to raise money to fund its turnaround, Eastman Kodak
Co. is trying to sell its online photo-sharing business, Kodak
Gallery, Deal Journal's Dana Mattioli reports, citing people
familiar with the matter.

According to the report, the people say the one-time film giant
has approached photo-sharing Web sites, competitors, private
equity firms and retailers about buying the unit, which lets users
store their digital photos and print them out into scrapbooks,
cards and calendars.

The Rochester-based company is seeking "hundreds of millions of
dollars" for Kodak Gallery, according to one person who has been
approached to buy the business.  But the site has been shedding
users in recent years, and the drop in traffic is a big deterrent
to potential buyers, people who were approached say.

                            Bondholders

According to Bill Rochelle, the bankruptcy columnist for Bloomberg
News, second-lien lenders in October wrote a letter reminding
Kodak's board of their fiduciary duty to sell the patent portfolio
for not less than fair market value.  The letter warns the board
that its members could face lawsuits if second-lien creditors
later deem the price too low. Second, the letter similarly warns
prospective purchasers that they too could be sued for receipt of
a fraudulent transfer if Kodak later ends up in bankruptcy.

                        About Eastman Kodak

Headquartered in Rochester, New York, Eastman Kodak Company
(NYSE:EK) -- http://www.kodak.com/-- provides imaging technology
products and services to the photographic and graphic
communications markets.

Kodak's balance sheet at Sept. 30, 2011, showed $5.10 billion
in total assets, $6.75 billion in total liabilities and a
$1.65 billion total deficit.

Kodak had sales of $7.2 billion last year. Sales declined by 24
percent since 2008. The net loss last year was $687 million.
During the first nine month of this year, the net loss was
$647 million on sales of $4.27 billion.

In July 2011, the Company announced that it is exploring strategic
alternatives, including a potential sale, related to its digital
imaging patent portfolios.  Kodak has hired Jones as legal adviser
and investment bank Lazard Ltd., but denied rumors it is filing
for bankruptcy.   It also has enlisted FTI Consulting Inc.

A group of Kodak's bondholders have formed an informal committee
and hired law firm Akin Gump Strauss Hauer & Feld LLP for advise.

                           *    *     *

As reported by the TCR on Nov. 3, 2011, Fitch Ratings affirmed and
then withdrew the 'CC' long-term Issuer Default Rating and issue
ratings of Eastman Kodak Company.  Fitch decided to discontinue
the rating, which is uncompensated.

Moody's Investors Service said in a report Nov. 7, 2011, that
Kodak will run out of cash in the U.S. around the second or third
quarters of 2012.


ELEPHANT & CASTLE: Court Sets Dec. 15, 2011 as Claims Bar Date
--------------------------------------------------------------
Massachusetts Elephant & Castle Group Inc. and its debtor-
affiliates ask the Bankruptcy Court to approve a Revised Bar Date
Notice.  The Official Committee of Unsecured Creditors assents to
the revised Bar Date Notice.

The Bankruptcy Court entered an order fixing Dec. 15, 2011, as the
last date for all persons and entities, including, but not limited
to, individuals, partnerships, corporations, estates, trusts, and
indenture trustees, except for those governmental units, who have
or assert, or believe they may have or assert any claim to file
proofs of claim against the estate of the Debtors.  The Bar Date
for filing proofs of claim apply to all claims against the
Debtors' estate that arose on or before June 28, 2011.  For any
governmental unit holding a Prepetition Claim, the Court has set
Jan. 5, 2012, as the deadline for these entities to file a proof
of claim.

            About Massachusetts Elephant & Castle Group

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

Elephant & Castle filed for Chapter 11 protection (Bankr. D. Mass.
Lead Case No. 11-16155) on June 28, 2011.  Bankruptcy Judge Henry
J. Boroff presides over the case.  Repechage Investments'
estimated assets and debts at $10 million to $50 million.  Other
Debtors' estimated assets and debts at $0 to $10 million.

Eckert Seamans Chein & Mellott, LLC, represent the Debtors as
counsel and BellMark Partners, LLC as financial advisor.  Epiq
Bankruptcy Solutions, LLC as claims, noticing and balloting agent.
Phoenix Management serves as the Company's Chief Restructuring
Advisor.

FTI Consulting, Inc., is the Official Committee of Unsecured
Creditors' financial advisors.  Goulston & Storrs, P.C., is the
Committee's counsel.


EMMIS COMMUNICATIONS: Buys 645,504 Preferred Shares
---------------------------------------------------
Pursuant to the terms of purchase agreements with certain holders
of its 6.25% Series A Cumulative Convertible Preferred Stock,
Emmis Communications Corporation has purchased 645,504 shares at a
weighted average price of $15.25 per share, which constitutes
approximately 23% of the total outstanding shares of the Preferred
Stock.  Most of the shares were purchased pursuant to the terms of
total return swaps, and these sellers have also entered into
agreements to vote their shares in accordance with the prior
written instructions of Emmis.  Emmis may enter into additional
transactions to purchase its Preferred Stock in the future.

Including fees and expenses, Emmis has drawn $11.7 million of the
$35.0 million available to it under the Note Purchase Agreement
with Zell Credit Opportunities Master Fund, L.P., dated Nov. 10,
2011.

                    About Emmis Communications

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

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

The Company's balance sheet at Aug. 31, 2011, showed $471.19
million in total assets, $479.49 million in total liabilities,
$140.45 million in Series A cumulative convertible preferred
stock, and a $148.75 million total deficit.

                           *     *     *

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

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

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


EMMIS COMMUNICATIONS: Joseph Siegelbaum Resigns from Board
----------------------------------------------------------
Joseph R. Siegelbaum, a director of Emmis Communications
Corporation, who was nominated by holders of Emmis' 6.25% Series A
Cumulative Convertible Preferred Stock, informed Emmis that he was
resigning from the Board effective immediately.  The resignation
was not due to any disagreement with Emmis on any matter relating
to Emmis' operations, policies or practices.

                     About Emmis Communications

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

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

The Company also reported a net loss attributable to common
shareholders of $13.14 million on $125.76 million of net revenues
for the six months ended Aug. 31, 2011, compared with a net loss
attributable to common shareholders of $6.24 million on $126.91
million of net revenues for the same period a year ago.

The Company's balance sheet at Aug. 31, 2011, showed $471.19
million in total assets, $479.49 million in total liabilities,
$140.45 million in Series A cumulative convertible preferred
stock, and a $148.75 million total deficit.

                           *     *     *

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

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

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


ENCORIUM GROUP: Delays Filing of Sept. 30 Quarter Form 10-Q
-----------------------------------------------------------
Encorium Group, Inc., notified the U.S. Securities and Exchange
Commission that it could not file its quarterly report on Form
10-Q for the fiscal quarter ended Sept. 30, 2011, within the
prescribed period without unreasonable effort and expense because
during the fiscal quarter ended Sept. 30, 2011, the Company's
management devoted considerable time and resources to the
preparation of the Company's Annual Report on Form 10-K for the
fiscal year ended Dec. 31, 2010.  Management's efforts related to
the preparation of the Form 10-K have required a significant
amount of management time and other Company resources that
normally would be devoted to the preparation of the Form 10-Q and
related matters during this period of time.  For these reasons,
the Company's unaudited condensed consolidated financial
statements for the fiscal quarter ended Sept. 30, 2011, remain
subject to review and further analysis at this time.

The Company anticipates that the notes to the consolidated
financial statements for the fiscal quarter ended Sept. 30, 2011,
that will be included in the Form 10-Q are likely to contain an
explanatory paragraph indicating substantial doubt about the
Company's ability to continue as a going concern.

                       About Encorium Group

Encorium Group, Inc., is a clinical research organization that
engages in the design and management of complex clinical trials
for the pharmaceutical, biotechnology and medical device
industries.  The Company was initially incorporated in August 1998
in Nevada.  In June 2002, the Company changed its state of
incorporation to Delaware.  In November 2006, it expanded its
international operations with the acquisition of its wholly-owned
subsidiary, Encorium Oy, a clinical research organization founded
in 1996 in Finland, which offers clinical trial services to the
pharmaceutical and medical device industries.  Since 2006 the
Company has conducted substantially all of its European operations
through Encorium Oy and its wholly-owned subsidiaries located in
Denmark, Estonia, Sweden, Lithuania, Romania, Germany and Poland.

On July 16, 2009 the Company sold substantially all of the assets
relating to the Company's US line of business to Pierrel Research
USA, Inc., the result of which the Company no longer has any
employees or significant operations in the United States. Due to
this sale, for the three and nine months ended Sept. 30, 2010 and
2009, the results of the U.S. business have been presented as
discontinued operations in the consolidated condensed financial
statements.

The Company reported a net loss of $9.08 million on $15.37 million
of total revenue for the year ended Dec. 31, 2010, compared with a
net loss of $3.87 million on $21.16 million of total revenue
during the prior year.

The Company's balance sheet at Dec. 31, 2010, showed $7.97 million
in total assets, $11.73 million in total liabilities and a $3.76
million total stockholders' deficit.

Asher & Company, LTD, in Philadelphia, Pennsylvania, noted that
the Company's recurring losses from operations, current available
cash, and anticipated level of capital requirements necessary to
fund its current operations raise substantial doubt about its
ability to continue as a going concern.


ENER1 INC: Aspire Terminates Common Stock Purchase Agreement
------------------------------------------------------------
Ener1, Inc., received from Aspire Capital Fund, LLC, written
notice of termination of the Common Stock Purchase Agreement,
dated Aug. 3, 2011, between Aspire and the Company.  The
termination was effective as of Nov. 8, 2011.

The Purchase Agreement provided that, upon the terms and subject
to the conditions and limitations set forth therein, Aspire
Capital would be committed to purchase up to an aggregate of $50.0
million of shares of the Company's common stock over the two-year
term of the Purchase Agreement.  Prior to termination of the
Purchase Agreement, the Company issued to Aspire Capital a total
of 2,325,581 Purchase Shares for a purchase price of $2.0 million,
and an additional 2,690,441 shares as consideration for Aspire
Capital's obligations under the Purchase Agreement.

The Purchase Agreement could be terminated by Aspire Capital any
time an Event of Default, as defined under the Purchase Agreement,
existed.  Among other things, the Company's delisting from NASDAQ
on Oct. 28, 2011, and the unavailability of the registration
statement relating to the resale by Aspire Capital of the Purchase
Shares constituted Events of Default under the Purchase Agreement.
No early termination penalties are incurred by the Company in
connection with termination of the Purchase Agreement.

On Nov. 9, 2011, the Company received from Jefferies & Company,
Inc., written notice of termination of the Open Market Sale
Agreement, dated Jan. 25, 2010, between Jefferies and the Company.
The termination was effective on Nov. 11, 2011.

The Sale Agreement provided that, upon the terms and subject to
the conditions and limitations set forth therein, the Company
could issue and sell shares of the Company?s common stock having
an aggregate offering price of up to $60.0 million through
Jefferies for a period of up to three years.  The Company issued
and sold a total of 9,729,864 shares of common stock, for
aggregate net proceeds of approximately $21.8 million pursuant to
the Sale Agreement prior to its termination.

The Sale Agreement provided that either party was permitted to
terminate the Sale Agreement at any time upon one trading day's
prior written notice to the other party. No early termination
penalties are incurred by the Company in connection with the
termination of the sales Agreement.

                            About Ener1

Ener1 Inc. (OTCBB: ENEI) -- http://www.ener1.com/-- has three
business lines, which the company conducts through three operating
subsidiaries.  EnerDel, an 80.5% owned subsidiary, which is 19.5%
owned by Delphi, develops Li-ion batteries, battery packs and
components such as Li-ion battery electrodes and lithium
electronic controllers for lithium battery packs.  EnerFuel
develops fuel cell products and services.  NanoEner develops
technologies, materials and equipment for nanomanufacturing.

On Aug. 15, 2011, Ener1 disclosed that the Company's financial
statements for the year ended December 31, 2010 and for the
quarterly period ended March 31, 2011 should no longer be relied
upon and should be restated.  The determination was made following
an assessment of certain accounting matters related to the loans
receivable owed to Ener1 by Think Holdings and accounts receivable
owed to Ener1 by Think Global held by the Company, and the timing
of the recognition of the impairment charge related to the
Company's investment in Think Holdings originally recorded during
the quarter ended March 31, 2011.

Ener1 in September 2011 announced that it has entered into an
agreement to restructure its 8.25% Senior Amortizing Notes with
Goldman Sachs Asset Management, L.P., and other holders of the
Notes.  Ener1 also announced that its primary shareholder, BzinFin
S.A., has extended the maturity of its $15-million line of credit
from November 2011 to July 2013.

The Company and Bzinfin S.A., on Sept. 12, 2011, entered into an
amendment to the Line of Credit Agreement dated June 29, 2011.
Under the LOC Agreement, Bzinfin established a line of credit for
the Company in the aggregate principal amount of $15,000,000, of
which approximately $11,241,000 has been borrowed by the Company.
Under the terms of the Amendment, the maturity date for the
repayment of all advances under the LOC Agreement and all unpaid
accrued interest thereon was extended to July 2, 2013, and the
interest rate at which all outstanding advances will bear interest
from and after Sept. 12, 2011, was increased to 15% per year.


ENERGY COMPOSITES: Delays Filing of Form 10-Q for Sept. 30 Qtr.
---------------------------------------------------------------
Trailblazer Resources, Inc., formerly known as Energy Composites
Corporation, notified the U.S. Securities and Exchange Commission
that the Company's recent activities have delayed the preparation
and review of its quarterly report on form 10-Q for the period
ended Sept. 30, 2011.

                      About Energy Composites

Wisconsin Rapids, Wisconsin-based Energy Composites Corporation is
a manufacturer of composite structures and vessels for a range of
clean technology industries.  Based on its research of companies
in this sector, the Company believe it has the Midwest's largest
and most automated manufacturing capabilities with its world-
class, automated 73,000 square foot climate-controlled
manufacturing facility in Wisconsin Rapids, Wisconsin.

At June 30, 2011, the Company's balance sheet showed
$10.95 million in total assets, $9.26 million in total
liabilities, and stockholders' equity of $1.69 million.

As reported in the TCR on April 27, 2011, Moquist Thorvilson
Kaufmann Kennedy & Pieper LLC, in Edina, Minnesota, expressed
substantial doubt about Energy Composites' ability to continue as
a going concern, following the Company's 2010 results.  The
independent auditors noted that the Company had net losses for the
years ended Dec. 31, 2010, and 2009, and had an accumulated
deficit at Dec. 31, 2010.


EPAZZ INC: Delays Filing of 3rd Quarter Form 10-Q
-------------------------------------------------
Epazz, Inc., notified the U.S. Securities and Exchange Commission
that it has experienced delays in completing its financial
statements for the quarter ended Sept. 30, 2011, as its auditor
has not had sufficient time to review the financial statements for
the quarter.  As a result, the Company is delayed in filing its
Form 10-Q for the quarter ended Sept. 30, 2011.

                          About EPAZZ Inc.

Chicago, Ill.-based EPAZZ, Inc., was incorporated in the State of
Illinois on March 23, 2000, to create software to help college
students organize their college information and resources.  The
idea behind the Company was that if the information and resources
provided by colleges and universities was better organized and
targeted toward each individual, the students would encounter a
personal experience with the college or university that could lead
to a lifetime relationship with the institution.  This concept is
already used by business software designed to retain relationships
with clients, employees, vendors and partners.

The Company's balance sheet at March 31, 2011, showed $1.9 million
in total assets, $1.3 million in total liabilities, and
stockholders' equity of $557,841.

                        Bankruptcy Warning

The Company currently anticipates that it will need approximately
$100,000 to continue its operations for the next 12 months,
including any funds the Company will need to make the monthly
payments on its promissory note with Mr. Arthur A. Goes (the
seller of Desk Flex, Inc., and Professional Resource Management,
Inc.), the June 2008 note due to Star Financial Corporation, the
IntelliSys promissory note and the Third Party Lender Note.

"In the event that we are unable to repay our current and long-
term obligations as they come due, we could be forced to curtail
or abandon our business operations, and/or file for bankruptcy
protection; the result of which would likely be that our
securities would decline in value and/or become worthless," the
Company said in the filing.

                          Going Concern

As reported in the TCR on April 26, 2011, Lake & Associates, CPA's
LLC, in Schaumburg, Illinois, expressed substantial doubt about
EPAZZ, Inc.'s ability to continue as a going concern, following
the Company's 2010 results.  The independent auditors noted that
the Company has a significant accumulated deficit and continues to
incur losses.


EVERGREEN SOLAR: Court Sets Dec. 30, 2011 as Claims Bar Date
------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware has
established these bar date in relation to the Chapter 11 case of
Evergreen Solar, Inc.:

   a. Dec. 30, 2011, at 4:00 p.m. prevailing Eastern time as
   the last day for the filing of proofs of claim in the case for
   all claims against the Debtor arising prior to Aug. 15, 2011;

   b. Feb. 13, 2012, at 4:00 p.m. as the last day for all
   governmental units to assert claims arising before the Petition
   Date;

   c. Dec. 30, 2011, at 4:00 p.m. as the last day for all parties
   asserting administrative expenses against the Debtor's estate
   as of Nov. 30, 2011; and

   d. Dec. 30, 2011, at 4:00 p.m. as the last day for all parties
   asserting administrative expenses against the Debtor's estate
   arising under the WARN Act (or any other similar state law
   worker notification statute) as of Nov. 30, 2011, to file a
   request for payment of the administrative expense.

Proofs of claim must be filed with claims agent, Epiq Bankruptcy
Solutions, LLC in these addresses:

By First-Class Mail:

         Evergreen Solar, Inc. Claims Processing Center
         c/o Epiq Bankruptcy Solutions, LLC
         FDR Station, P.O. Box 5015
         New York, NY 10150-5015

By Hand-Delivery or Overnight Mail:

         Evergreen Solar, Inc. Claims Processing Center
         c/o Epiq Bankruptcy Solutions, LLC
         757 Third Avenue, 3rd Floor
         New York, NY 10017

                      About Evergreen Solar

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

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

Ronald J. Silverman, Esq., and Scott K. Seamon, Esq., at Bingham
McCutchen LLP, serve as general bankruptcy counsel to the Debtor.
Laura Davis Jones, Esq., and Timothy P. Cairns, Esq., at Pachulski
Stang Ziehl & Jones LLP, serve as co-counsel.  Hilco Industrial
LLC serves as exclusive marketing and sales agent.  Klehr Harrison
Harvey Branzburg serves as special conflicts counsel.  Zolfo
Cooper LLC is the financial advisor.  UBS Securities, LLC, serves
as investment banker.  Epiq Bankruptcy Solutions has been tapped
as claims agent.

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

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

An official committee of unsecured creditors has retained Pepper
Hamilton and Kramer Levin Naftalis & Frankel as counsel.  The
Committee tapped Garden City Group as communications services
agent.

Evergreen Solar is at least the fourth solar company to seek court
protection from creditors since August 2011.  Other solar firms
are start-up Spectrawatt Inc., which also filed in August,
Solyndra Inc., which filed early in September, and Stirling Energy
Systems Inc., which filed for Chapter 7 bankruptcy late in
September.


EVERGREEN SOLAR: Inks First Amendment to Support Agreement
----------------------------------------------------------
As reported in the TCR on Aug. 16, 2011, Evergreen Solar, Inc.,
entered, on Aug. 15, 2011, into (1) a Restructuring Support
Agreement with certain holders of its 13% Convertible Senior
Secured Notes due 2015 and (2) an Asset Purchase Agreement with ES
Purchaser, LLC, an entity formed by the Supporting Noteholders.

As part of the Support Agreement and the Stalking Horse Agreement,
the Company filed a motion on Sept. 9, 2011, with the U.S.
Bankruptcy Court for the District of Delaware for, among other
things, establishing bidding procedures ("Bidding Procedures") to
permit higher and better bids, setting a date for an auction (an
"Auction") should such bids be received and setting a hearing date
for the approval of the sale of the assets to the winning bidder.

On Nov. 7, 2011, the Company completed an Auction, pursuant to the
Bidding Procedures, as amended, previously approved by the
Bankruptcy Court, for the sale of (1) all or substantially all of
the Company's core wafer business, including all or substantially
all of its intellectual property (the "Core Assets"), (2) the
Company's claims against Lehman Brothers International Europe and
Lehman Brothers Holdings Inc. arising out of (a) the Share Lending
Agreement between Lehman Brothers International (Europe) and the
Company, dated June 26, 2008, and (b) Guarantee of Lehman Brothers
Holdings Inc. of the Share Lending Agreement between Lehman
Brothers International (Europe) and the Company, dated June 26,
2008 and (3) all or substantially all of the Company's assets
solar panel inventory.  An auction for the Company's assets
relating to its Devens, Massachusetts facility and its remaining
non-core assets will be held at a later date.

As a result of the Auction, in consultation with the official
committee of unsecured creditors appointed in the Company's
Bankruptcy Case, the Company selected highest and best bids for
the Core Assets, LBIE Claims and Solar Panels.  The Company and
Max Era Properties Limited, or its permitted assigns, as purchaser
(the "Core Assets Purchaser"), entered into an Asset Purchase
Agreement, dated as of Nov. 10, 2011, pursuant to which the
Company agreed to sell the Core Assets to the Core Assets
Purchaser.  Pursuant to the terms of the Core Assets Purchase
Agreement, the Core Assets Purchaser has agreed to purchase the
Core Assets for $6,000,000 in cash and $3,200,000 in unrestricted
Ordinary Shares of China Private Equity Investment Holdings Ltd.,
a British Virgin Islands limited company listed on the Alternative
Investment Market of London Stock Exchange.  The Core Assets
Purchaser also agreed to pay cure costs for assumed contracts and
to assume various liabilities of the Company.

The Company and the Stalking Horse, or its permitted assigns, as
purchaser, entered into an Assignment of Claim Agreement, dated as
of Nov. 10, 2011.  Pursuant to the terms of the LBIE Claims
Purchase Agreement, the LBIE Claims Purchaser has agreed to
purchase the LBIE Claims for $21,500,000 via a credit bid.

The Company also agreed to sell the Solar Panels to Kimball
Holdings, LLC, for a total of $3,834,000.

The assets are to be sold pursuant to Sections 105, 363 and 365 of
the Bankruptcy Code, subject to Bankruptcy Court approval and
require the satisfaction of certain conditions set forth in such
agreements.  These agreements are binding on the Company upon
issuance by the Bankruptcy Court of an order approving the
transaction.

The Company also selected the highest and best back-up bids for
the Core Assets and the LBIE Claims.  The Company entered into an
Asset Purchase Agreement, dated as of Nov. 10, 2011, with the
Stalking Horse, whereby the Stalking Horse agreed to pay
$15,884,000 pursuant to its credit bid rights, in cash or a
combination of its credit bid rights and cash for the Core Assets.
The Stalking Horse also agreed to pay cure costs for assumed
contracts and to assume various liabilities of the Company.  The
Company also entered into an Assignment of Claim Agreement, dated
as of Nov. 10, 2011, with Jackson Canyon Partners, L.L.C, as
purchaser (the "LBIE Claims Back-Up Bidder"), whereby the LBIE
Claims Back-Up Bidder agreed to pay $21,000,000 in cash for the
LBIE Claims.

On Nov. 10, 2011, the Bankruptcy Court issued the Sale Order
approving such sales.

Consummation of the sales of the Core Assets and the LBIE Claims
are subject to a number of customary conditions, including, among
others, conditions related to compliance with federal antitrust
regulations; accuracy of the representations and warranties of the
parties; material compliance by the parties with their obligations
under the governing agreements; and compliance with the Bankruptcy
Code.

The Core Assets Purchase Agreement, the LBIE Claims Purchase
Agreement, the Back-Up Core Assets Purchase Agreement and the
Back-Up LBIE Claims Agreement may be terminated by under a number
of circumstances, including breach of certain representations and
covenants and the revocation of the Sale Order.

Also on Nov. 10, 2011, the Company entered into a First Amendment
to Restructuring Support Agreement (the "First Amendment"), which,
among other things, requires that if the Core Assets Purchase
Agreement has not closed by Nov. 18, 2011, the Company must
terminate the employment of substantially all of its employees and
required the Company to seek a court order, which the Company
obtained, permitting the Stalking Horse to be considered a third
party purchaser for purposes of its key employee incentive plan if
the Stalking Horse purchases the Core Assets.

The foregoing description of the transactions contemplated by the
Core Assets Purchase Agreement, the LBIE Claims Purchase
Agreement, the Back-Up Core Assets Purchase Agreement and the
Back-Up LBIE Claims Purchase Agreement and the description of the
First Amendment do not purport to be complete and are qualified in
their entirety by reference to the Core Assets Purchase Agreement,
the LBIE Claims Purchase Agreement, the Back-Up Core Assets
Purchase Agreement, the Back-Up LBIE Claims Purchase Agreement and
the First Amendment.

A copy of the Core Assets Purchase Agreement is available for free
at http://is.gd/BjmF3Y

A copy of the LBIE Claims Purchase Agreement is available for free
at http://is.gd/KyIRhH

A copy of the Back-Up Core Assets Purchase Agreement is available
for free at http://is.gd/M6A7Z6

A copy of the Back-Up LBIE Claims Purchase Agreement is available
for free at http://is.gd/YFV6Hn

A copy of the First Amendment to Restructuring Support Agreement
is available for free at http://is.gd/Mg0nJd

                           Other Events

As reported in the TCR on Nov. 15, 211, the Company entered, on
Nov. 3, 2011, into amended and restated confidentiality agreements
(the "Amended and Restated Confidentiality Agreements") with
certain Supporting Noteholders, which expire upon the public
disclosure of certain confidential information that has been
provided to the Supporting Noteholders and, upon termination,
require certain confidential information, including, but not
limited to, information pertaining to the bids received in
connection with the Auction and a supplemental final budget with
respect to the Company's cash collateral order, to be to disclosed
to the public via a Current Report on Form 8-K.  In connection
with marketing the Company?s assets and the Auction, the Company
provided the Supporting Noteholders with certain confidential
information about the Company, which may be deemed material.  On
November 9, 2011, the Company filed certain information with the
Bankruptcy Court, which, as a result, pursuant to the terms of the
Amended and Restated Confidentiality Agreements, requires that the
Company disclose to the public via a Current Report on Form 8-K
certain information provided to the Supporting Noteholders.  This
Form 8-K contains certain information provided to the Supporting
Noteholders and required to be disclosed pursuant to the terms of
the Amended and Restated Confidentiality Agreements.

A copy of a final version of the 3-week supplemental budget with
respect to the Company's cash collateral order is available for
free at http://is.gd/lSpEZz

The Company notes that the information set forth in the final
version of the 3-week supplemental budget with respect to the
Company's cash collateral order and disclosed above was delivered
to the Supporting Noteholders in the past, in connection with
marketing the Company's assets and the Auction.  This information
should not be viewed as being current or as presenting a complete
disclosure of the Company's business and prospects.  Accordingly,
investors should not place undue reliance on this information.

                      About Evergreen Solar

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

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

Ronald J. Silverman, Esq., and Scott K. Seamon, Esq., at Bingham
McCutchen LLP, serve as general bankruptcy counsel to the Debtor.
Laura Davis Jones, Esq., and Timothy P. Cairns, Esq., at Pachulski
Stang Ziehl & Jones LLP, serve as co-counsel.  Hilco Industrial
LLC serves as exclusive marketing and sales agent.  Klehr Harrison
Harvey Branzburg serves as special conflicts counsel.  Zolfo
Cooper LLC is the financial advisor.  UBS Securities, LLC, serves
as investment banker.  Epiq Bankruptcy Solutions has been tapped
as claims agent.

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

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

An official committee of unsecured creditors has retained Pepper
Hamilton and Kramer Levin Naftalis & Frankel as counsel.  The
Committee tapped Garden City Group as communications services
agent.

Evergreen Solar is at least the fourth solar company to seek court
protection from creditors since August 2011.  Other solar firms
are start-up Spectrawatt Inc., which also filed in August,
Solyndra Inc., which filed early in September, and Stirling Energy
Systems Inc., which filed for Chapter 7 bankruptcy late in
September.


FANNIE MAE: Bans Baum Law Firm From New Foreclosures
----------------------------------------------------
Carla Main, substituting for Bloomberg News bankruptcy columnist
Bill Rochelle, reports that Fannie Mae and Freddie Mac, the
mortgage-finance companies operating under U.S. conservatorship,
dropped Steven J. Baum PC from their list of law firms eligible to
handle foreclosures and bankruptcies.  "After Nov. 15, 2011,
servicers may not refer any new Fannie Mae foreclosure or
bankruptcy cases in New York to Steven J. Baum PC," Fannie Mae
said in servicing notice that day.  Freddie Mac announced its ban
Nov. 10.

According to the report, both companies said the Baum firm would
continue to work on matters referred before the effective dates.
Neither said why the firm was being suspended.  Last month, Steven
J. Baum PC, one of the largest foreclosure law firms in New York
state, agreed to pay the U.S. $2 million and change its practices
to resolve a probe of its foreclosure filings.  The settlement
didn't constitute a finding of wrongdoing.

Brad German, a spokesman for Freddie Mac, said the company doesn't
comment on why it drops law firms from its list.  "We add and
subtract designated counsel all the time," he said in a phone
interview Nov. 18.

                         About Fannie Mae

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

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

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

                         About Freddie Mac

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

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


FENTURA FINANCIAL: Incurs $700,000 Third Quarter Net Loss
---------------------------------------------------------
Fentura Financial, Inc., filed with the U.S. Securities and
Exchange Commission its Quarterly Report on Form 10-Q reporting a
net loss of $700,000 on $3.32 million of total interest income for
the three months ended Sept. 30, 2011, compared with a net loss of
$2.33 million on $3.90 million of total interest income for the
same period during the prior year.

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

The Company also reported a net loss of $635,000 on $9.96 million
of total interest income for the nine months ended Sept. 30, 2011,
compared with a net loss of $5.60 million on $12.11 million of
total interest income for the same period a year ago.

The Company's balance sheet at Sept. 30, 2011, showed
$307.10 million in total assets, $291.42 million in total
liabilities and $15.67 million in total shareholders' equity.

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

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

                        http://is.gd/LZa2a1

                      About Fentura Financial

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

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


FIDDLERS CREEK: Region Bank Wants Property Conveyance Completed
---------------------------------------------------------------
Creditor Regions Bank, asks the U.S. Bankruptcy Court for the
Middle District of Florida to clarify the memorandum opinion and
order confirming Fiddler's Creek, LLC, et al.'s Second Amended
Plans of Reorganization as Modified.

As reported in the Troubled Company Reporter on Sept. 16, 2011,
Fiddler's Creek implemented the Chapter 11 plan confirmed on
Aug. 29, 2011.  The plan was consummated four days later.  The
plan incorporated agreements with the official creditors'
committee, an ad hoc group of homeowners and two lenders, Regions
Bank NA and Fifth Third Bank.

Regions Bank was a prepetition mortgage lender to two of the
Debtors, GBFC Development, LTD. and 951 Land Holdings, LTD.  A
third debtor, Fiddler's Creek, LLC, guaranteed the payment of the
Regions Bank mortgage debt.  In connection with the plans of
reorganization for those Debtors, Regions Bank agreed to accept
the conveyance to it or its designee certain real estate which had
previously been mortgaged to the Bank, mostly residential units
but including some buildable lots.

Regions Bank states that the Court must grant its motion for
clarification and enter an order which separately approves the
conveyance of the property to Regions Bank so that Regions Bank
can complete the conveyance as called for under the plan.
Alternatively, in the event that this Court concludes that it does
not have jurisdiction to enter the order, the Court must enter an
order which indicates that it would grant Regions Bank's request
for relief under Fed. R. Civ. P. 60(a) in the event the District
Court agrees to relinquish jurisdiction for that limited purpose.

                     About Fiddler's Creek

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

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

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

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


FREDDIE MAC: Bans Baum Law Firm From New Foreclosures
-----------------------------------------------------
Carla Main, substituting for Bloomberg News bankruptcy columnist
Bill Rochelle, reports that Fannie Mae and Freddie Mac, the
mortgage-finance companies operating under U.S. conservatorship,
dropped Steven J. Baum PC from their list of law firms eligible to
handle foreclosures and bankruptcies.  "After Nov. 15, 2011,
servicers may not refer any new Fannie Mae foreclosure or
bankruptcy cases in New York to Steven J. Baum PC," Fannie Mae
said in servicing notice that day.  Freddie Mac announced its ban
Nov. 10.

According to the report, both companies said the Baum firm would
continue to work on matters referred before the effective dates.
Neither said why the firm was being suspended.  Last month, Steven
J. Baum PC, one of the largest foreclosure law firms in New York
state, agreed to pay the U.S. $2 million and change its practices
to resolve a probe of its foreclosure filings.  The settlement
didn't constitute a finding of wrongdoing.

Brad German, a spokesman for Freddie Mac, said the company doesn't
comment on why it drops law firms from its list.  "We add and
subtract designated counsel all the time," he said in a phone
interview Nov. 18.

                         About Fannie Mae

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

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

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

                         About Freddie Mac

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

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


FUSION TELECOMMUNICATIONS: Incurs $1-Mil. 3rd Qtr. Net Loss
-----------------------------------------------------------
Fusion Telecommunications International, Inc., filed with the U.S.
Securities and Exchange Commission its Quarterly Report on Form
10-Q reporting a net loss of $1.11 million on $9.93 million of
revenue for the three months ended Sept. 30, 2011, compared with a
net loss of $1.25 million on $11.15 million of revenue for the
same period a year ago.

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

The Company also reported a net loss of $3.54 million on $30.77
million of revenue for the nine months ended Sept. 30, 2011,
compared with a net loss of $4.37 million on $30.46 million of
revenue for the same period during the prior year.

The Company's balance sheet at Sept. 30, 2011, showed $4.71
million in total assets, $14.99 million in total liabilities and a
$10.28 million total stockholders' deficit.

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

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

                        http://is.gd/ySHAbc

                  About Fusion Telecommunications

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


GENERAL MARITIME: Wins Interim Access of $30MM From DIP Loans
-------------------------------------------------------------
Carla Main, substituting for Bloomberg News bankruptcy columnist
Bill Rochelle, reports that General Maritime Corp. can draw
$30 million of a $75 million loan that will require it to file a
plan of reorganization in 75 days or sell all its assets.

The report relates that U.S. Bankruptcy Judge Martin Glenn in
Manhattan court approved on Nov. 18 the Company's request to
borrow funds from Nordea Bank Finland Plc and other lenders.

According to the report, General Maritime hopes to file a
reorganization plan in January, its bankruptcy counsel, Kenneth
Eckstein said Nov. 18.  If the Company doesn't outline the terms
of a plan within 75 days from its Nov. 17 filing, it must sell all
its assets through an auction, under the requirements of its $75
million loan, he said.  Oaktree Capital Management LP, a lender,
would be the so-called stalking horse for that auction.

Bloomberg relates that a group of General Maritime noteholders
opposed the loan, saying its terms would "serve to prematurely
limit or foreclose the rights of unsecured creditors or any
official committee appointed to represent their interests."

The ad-hoc group, which doesn't have formal standing in the case,
owns more than $185 million in 12% senior notes due 2017. It
includes Capital Research and Management Company, J.P. Morgan
Investment Management, Inc., J.P. Morgan Securities LLC, Stone
Harbor Investment Partners LP and Third Avenue Focused Credit
Fund.

                      About General Maritime

Based in New York City, General Maritime Corporation through its
subsidiaries provides international transportation services of
seaborne crude oil and petroleum products.  The Company's fleet is
comprised of VLCC, Suezmax, Aframax, Panamax and product carrier
vessels.  The fleet consisted of thirty owned vessels and three
chartered vessels.

The Company reported a net loss of $216.66 million on
$387.16 million of voyage revenue for the year ended Dec. 31,
2010, compared with a net loss of $11.99 million on $350.52
million of voyage revenue during the prior year.

General Maritime, along with its subsidiaries, filed for Chapter
11 protection (Bankr. S.D.N.Y. Lead Case No. 11-15285) on Nov. 17,
2011

Douglas Mannal, Esq., and Adam C. Rogoff, Esq., at Kramer Levin
Naftalis & Frankel LLP, in New York, serve as counsel to the
Debtors.  Moelis & Company is the financial advisor.  Garden City
Group Inc. is the claims and notice agent.

General Maritime disclosed $1,718,598,000 in assets and
$1,412,900,000 in liabilities as of Sept. 30, 2011.  General
Maritime's publicly held securities include 121.5 million common
shares and $300 million in unsecured 12 percent notes due 2017.

Prepetition, General Maritime reached agreements with its key
senior lenders, including its bank group, led by Nordea Bank
Finland plc, New York Branch as administrative agent, as well as
affiliates of Oaktree Capital Management, L.P., on the terms of a
restructuring.  Under terms of the agreements, Oaktree will
provide a $175 million new equity investment in General Maritime
and convert its prepetition secured debt to equity.

In conjunction with the filing, General Maritime has received a
commitment for up to $100 million in new DIP financing from a
group of lenders led by Nordea as administrative agent.


GENMED HOLDING: Delays Filing of 3rd Quarter Form 10-Q
------------------------------------------------------
Genmed Holding Corp. notified the U.S. Securities and Exchange
Commission that the compilation, dissemination and review of the
information required to be presented in the form 10-Q for the
period ended Sept. 30, 2011, has imposed time constraints that
have rendered timely filing of the Form 10-Q impracticable without
undue hardship and expense to the Company.  The Company undertakes
the responsibility to file such quarterly report no later than 5th
calendar day after its original date.

                        About Genmed Holding

Based in The Netherlands, Genmed Holding Corp. through its wholly
owned Dutch subsidiary Genmed B.V. is focusing on the delivery of
low cost generic medicines directly to distribution chains
throughout Europe.  The Company is currently in the development
stage of its generic drug distribution business and is attempting
to develop and maintain relationships with generic drug
manufacturers, retail entities, and government regulatory
authorities.

At June 30, 2011, the Company's balance sheet showed $1.6 million
in total assets, $2.9 million in total liabilities, and a
stockholders' deficit of $1.3 million.

As reported in the TCR on April 27, 2011, Meyler & Company, LLC,
in Middletown, N.J., expressed substantial doubt about Genmed
Holding's ability to continue as a going concern, following the
Company's 2010 results.  The independent auditors noted that the
Company has incurred cumulative net losses of $69.99 million since
inception, and had net losses of $7.73 million and $8.59 million
for the years ended Dec. 31, 2010, and 2009.


GIORDANO'S ENTERPRISES: Court OKs Sale to VPC Pizza Holdings
------------------------------------------------------------
VPC Pizza Holdings, LLC, disclosed the U.S. Bankruptcy Court for
the Northern District of Illinois has granted an order approving
the sale of substantially all of Giordano's Enterprises, Inc.'s
assets, business and goodwill out of bankruptcy in a Section 363
purchase.  VPC was also granted an order approving the sale of 740
North Rush Street, Giordano's flagship property in Chicago's Gold
Coast.  A closing of the sale is expected on November 30, 2011.

VPC's winning bid of $52 million is deeply-rooted in Chicago.  It
combines the operational orientation and strengths of VPC, a firm
with a track record of successfully restructuring businesses, and
the industry and brand knowledge of Bill and George Apostolou,
part of Giordano's founding family.

Carla Main, substituting for Bloomberg News bankruptcy columnist
Bill Rochelle, reports Philip Martino, the court-appointed trustee
in the case, confirmed that the sale was approved at a hearing
Nov. 18 in the U.S. Bankruptcy Court in Chicago.  Private equity
company Victory Park Capital's unit, VPC Pizza Holdings, LLC,
obtained approval of its winning bid of $52 million for two lots
at a bankruptcy auction for restaurant assets and real estate,
which included property at the famed Rush Street flagship location
of Giordano's Pizza.

The report relates that the sale is expected to close on Nov. 30,
2011, according to Chicago-based Victory Park Capital's statement.
The sale, which raised a total of $61.6 million, will enable
Giordano Pizza to pay its largest secured creditors and leave
funds available for unsecured creditors, Mr. Martino said in an
interview with Bloomberg News on Nov. 16.

The first lot purchased by VPC Pizza Holdings was restaurant
assets, which included eight company-owned locations and 30
franchise locations.  The other lot purchased by VPC Pizza
Holdings was the so-called Rush Street property, which Mr. Martino
described as "a half-block of Chicago."  The Rush Street property
is the location of Giordano's flagship restaurant, which the
Debtor will continue to operate, according to Mr. Martino.  The
remaining lot, purchased by Origin Funding LLC, was comprised of
three company-owned locations and five franchise locations.

According to the statement by VPC, unlike "stalking horse" bids
for Giordano's assets submitted by other groups, VPC's provided
the only buyout offer with the support of members of the
management team who recognized the value inherent in maintaining
and operating all of Giordano's tangible equity and intellectual
property, including its iconic Giordano's brand.  It is thus well-
positioned to export the World's Greatest Deep Dish Pizza
franchise throughout the U.S., while protecting the thousands of
valuable and loyal employees the Company and its franchisees have
in the Chicagoland area as well as Florida.

Richard Levy, chairman of VPC Pizza Holdings, LLC and managing
partner of Victory Park Capital, said, "Giordano's has been a
symbol of Chicago for almost 40 years and has held the title of
Greatest Deep Dish Pizza for most of that time.  Our solution
combines the critical funding and operational expertise needed to
make the necessary investments and management changes that will
reposition Giordano's for long-term growth and continue to build
on an iconic brand for generations to come."

Mr. Levy added, "As a Chicago-based firm with expertise in
providing specialized financing solutions to small and middle
market companies, we feel very fortunate that we had the
opportunity to invest in such an iconic hometown brand.  Our
investment will preserve Giordano's unique brand philosophy, which
hundreds of thousands of its customers still trust today, and
provide the critical financing necessary to stabilize and grow the
business and create jobs."

Mr. Levy added "We have partnered with Bill and George Apostolou
to preserve a long tradition of success and know-how in building
the preeminent Chicago deep dish pizza Company.  Their knowledge
of the Company's operations and adherence to the quality of
produce and ingredients that have made Giordano's so famous are an
integral part of making sure our loyal customers receive the same
quality they deserve and have come to expect.  We appreciate the
continued commitment and service of Giordano's franchisees and
employees throughout this process and look forward to working
together to grow our brand and make the customer experience even
more enjoyable."

Becky Yerak, writing for the Chicago Tribune, reports that Mr.
Martino said during the official sales process, 61 entities signed
confidentiality agreements that gave them full access to data for
the restaurants, or both the real estate and restaurants.  Another
38 entities got full access to data about the real estate alone.
When time came for the auction, Giordano's had 14 qualified
bidders, which were represented by almost 100 individuals in the
offices of Quarles & Brady, Martino's law firm.  Another 20
individuals on hand worked for such entities as: William Blair and
Hilco, the two firms hired to help sell the assets; Development
Specialists Inc., a Chicago-based firm that managed Giordano's
during bankruptcy; and key secured lender Fifth Third Bank.

According to the Chicago Tribune, Blair and Hilco will receive
$1.6 million.  Fifth Third is a secured creditor owed the bulk of
the $55 million.  Smaller secured creditors include Bank of
America and Bridgeview Bank.  All are expected to be made whole.

The Chicago Tribune relates Mr. Martino said that, after
administrative expenses, more than $2 million will be available to
pay priority claims, such as wages and taxes, and unsecured
claims.

                         About Victory Park

Founded in 2007, Victory Park Capital provides direct financing
solutions to small cap and middle market companies across a wide
range of industries.  With over 175 years of combined experience
across a broad range of financial, operating, advisory, and legal
disciplines, VPC focuses on complex situations and seeks to build
long term sustainable value in its companies. VPC is based in
Chicago and has offices in Boston and San Francisco.

                    About Giordano's Enterprises

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

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

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

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

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


GLEN ROSE: Posts $1.2 Million Net Income in June 30 Quarter
-----------------------------------------------------------
Glen Rose Petroleum Corporation filed with the U.S. Securities and
Exchange Commission its Quarterly Report on Form 10-Q reporting
net income of $1.26 million on $322,997 of total operating
revenues for the three months ended June 30, 2011, compared with
net income of $1.85 million on $27,560 of total operating revenues
for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed $7.82 million
in total assets, $26.69 million in total liabilities and a $18.87
million total shareholders' deficit.

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

                        http://is.gd/wEi9N2

                 Sept. 30 Qtr. Form 10-Q Delayed

Glen Rose Petroleum Corporation filed a Form 12b-25 with respect
to its Report on Form 10-Q for the quarter ended Sept. 30, 2011,
because it has encountered delays in the completion of its
financial statements for the quarter ended Sept. 30, 2011, related
to changes to the financial statements for the quarter ended
Sept. 30, 2010, referred to in its Form 10-K for the year ended
March 31, 2011.  The Company was not able to file its Form 10-Q in
a timely manner without unreasonable effort or expense.

                          About Glen Rose

Glen Rose Petroleum Corporation presently is focused on the
development of on-shore U.S. oil and gas assets.  Glen Rose has
five leases covering 10,500 gross acres in the Wardlaw Field and
5,400 gross acres in the Adamson Field, both located in Edwards
County, TX.

The Company's net loss for the 2011 Fiscal Year was $14,662,555,
as compared to a restated net loss of $12,176,826 for the 2010
Fiscal Year.  The net loss for the restated 2010 Fiscal Year and
the increase in net loss for the 2011 Fiscal Year was affected
significantly by the non-cash charges related to changes in fair
value for certain warrant liabilities and other derivative
securities, which added non-cash charges of $8,731,562 for the
2011 Fiscal Year compared to non-cash charges of $6,931,936 for
the restated 2010 Fiscal Year, or an increase of $1,799,626.


GLOBAL SHIP: Incurs $935,000 Net Loss in Third Quarter
------------------------------------------------------
Global Ship Lease, Inc., reported a net loss of US$935,000 on
US$38.67 million of time charter revenue for the three months
ended Sept. 30, 2011, compared with a net loss of US$3.52 million
on US$40.04 million of time charter revenue for the same period a
year ago.

The Company also reported a net loss of US$1.79 million on
US$116.55 million of time charter revenue for the nine months
ended Sept. 30, 2011, compared with a net loss of US$5.19 million
on US$118.80 million of time charter revenue for the same period
during the prior year.

The Company's balance sheet at Sept. 30, 2011, showed
US$954.12 million in total assets, US$630.89 million in total
liabilities and US$323.23 million total stockholders' equity.

Ian Webber, Chief Executive Officer of Global Ship Lease, stated,
"Third quarter results once again demonstrated the strength of our
business model in generating sizeable, stable cash flows.  With
our fleet of 17 vessels operating on long-term fixed rate charters
and utilization levels high, we achieved EBITDA of $25.2 million
for the quarter, despite the challenging economic environment and
four vessels being in drydock during the quarter.  Given our fully
time-chartered fleet has a weighted average remaining term of 8.6
years providing contracted revenue stream of over $1.2 billion, we
maintain a positive long-term outlook on our future business
prospects."

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

                        http://is.gd/zYz7uA

                       About Global Ship Lease

London, England-based Global Ship Lease (NYSE: GSL, GSL.U and
GSL.WS) -- http://www.globalshiplease.com/-- is a containership
charter owner.  Incorporated in the Marshall Islands, Global Ship
Lease commenced operations in December 2007 with a business of
owning and chartering out containerships under long-term, fixed
rate charters to world class container liner companies.

Global Ship Lease owns 17 vessels with a total capacity of 66,297
TEU with a weighted average age at June 30, 2010, of 6.3 years.
All of the current vessels are fixed on long-term charters to CMA
CGM with an average remaining term of 8.6 years.  The Company has
contracts in place to purchase two 4,250 TEU newbuildings from
German interests for approximately $77 million each that are
scheduled to be delivered in the fourth quarter of 2010.  The
Company also has agreements to charter out these newbuildings to
Zim Integrated Shipping Services Limited for seven or eight years
at charterer's option.


GMX RESOURCES: To Swap 11.375% Sr. Notes for 11.00% Sr. Notes
-------------------------------------------------------------
GMX Resources Inc. commenced an exchange offer of its existing
11.375% Senior Notes due 2019 in exchange for new 11.00% Senior
Secured Notes due 2017.  Pursuant to the terms of the exchange
offer, holders of the Existing Notes will be entitled to exchange,
for each $1,000 principal amount of Existing Notes tendered by
such holder, either:

   (a) $750.00 principal amount of New Notes; or

   (b) $971.40 principal amount of New Notes, if the holder
       subscribes to purchase for cash an additional $600.00
       principal amount of New Notes, to be issued at par, in a
       private placement being made to the holders in connection
       with the Exchange Offer for each $1,000 principal amount of
       Existing Notes tendered by such holder.

The New Notes will mature in December 2017, be secured by
substantially all of the assets of the Company and accrue cash
interest at 11.0% per annum.

The Company plans to use the cash proceeds from the issuance of
the additional New Notes in connection with the exchange offer (i)
to repay all outstanding indebtedness under its existing revolving
credit agreement, (ii) to fund a portion of its drilling program
capital expenditures and (iii) for general working capital
purposes.

The notes have not been registered under the Securities Act of
1933, as amended, or any state securities laws; and unless so
registered, the securities may not be offered or sold in the
United States except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the
Securities Act and applicable state securities laws.

                        About GMX Resources

GMX Resources Inc. -- http://www.gmxresources.com/-- is an
independent natural gas production company headquartered in
Oklahoma City, Oklahoma.  GMXR has 53 producing wells in Texas &
Louisiana, 24 proved developed non-producing reservoirs, 48 proved
undeveloped locations and several hundred other development
locations. GMXR has 9,000 net acres on the Sabine Uplift of East
Texas.  GMXR has 7 producing wells in New Mexico.  The Company's
strategy is to significantly increase production, revenues and
reinvest in increasing production.  GMXR's goal is to grow and
build shareholder value every day.

The Company reported a net loss of $138.29 million on
$96.52 million of oil and gas sales for the year ended Dec. 31,
2010, compared with a net loss of $181.08 million on $94.29
million of oil and gas sales during the prior year.

The Company also reported a net loss of $129.53 million on $90.62
million of oil and gas sales for the nine months ended Sept. 30,
2011, compared with net income of $8.58 million on $69.34 million
of oil and gas sales for the same period a year ago.

The Company's balance sheet at Sept. 30, 2011, showed $575.98
million in total assets, $432.65 million in total liabilities and
$143.32 million in total equity.

                           *     *     *

GMX Resources got a first time 'Caa1' Corporate Family Rating
and SGL-3 Speculative Grade Liquidity rating from Moody's
Investors Service in February 2011.  GMX's 'Caa1' CFR reflects its
small size, limited diversification, production that is 97%
natural gas in a low gas price environment, high leverage on
production and reserves, and the risks inherent
in developing its newly acquired oil focused Bakken and Niobrara
acreage while outspending cash flow," commented Jonathan
Kalmanoff, Moody's Analyst.  "The rating also considers the
potential for improvement in both profitability and
diversification if GMX is successful in developing its newly
acquired acreage, the pre-funding of the majority of 2011 capital
spending through both debt and equity offerings, a lack of
required drilling to hold acreage in the company's East Texas
properties, and hedges in place which add support to realized
prices for gas production through 2012."

As reported by the TCR on April 25, 2011, Standard & Poor's
Ratings Services said it assigned its 'B-' corporate credit rating
to Oklahoma City-based GMX Resources Inc.  The outlook is stable.
"The ratings on GMX Resources Inc. reflect the company's limited
scale of operations, meaningful exposure to weak natural gas
prices, a very aggressive near-term spending plan, limited
liquidity beyond 2011, and elevated debt leverage," said Standard
& Poor's credit analyst Paul B. Harvey.  "Near-term credit quality
will benefit from the liquidity provided by GMX's $200 million
senior unsecured note issuance and concurrent $100 million common
equity offering, as well as expectations for growing production
from its Haynesville Shale development," S&P related.


GOMERA GOVI: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Gomera Govi, Inc.
        65th Infanteria Station
        P.O. Box 29618
        Rio Piedras, PR 00929

Bankruptcy Case No.: 11-09970

Chapter 11 Petition Date: November 17, 2011

Court: United States Bankruptcy Court
       District of Puerto Rico (Old San Juan)

Debtor's Counsel: Jacqueline Hernandez Santiago, Esq.
                  P.O. Box 366431
                  San Juan, PR 00936-6431
                  Tel: (787) 751-1836
                  E-mail: quiebras1@gmail.com

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

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/prb11-09970.pdf

The petition was signed by Alfredo Gonzalez, president.


GRACEWAY PHARMACEUTICALS: Hearing Today to Approve Medicis Sale
---------------------------------------------------------------
Carla Main, substituting for Bloomberg News bankruptcy columnist
Bill Rochelle, reports that Medicis Pharmaceutical Corp. won a
bankruptcy auction for Graceway Pharmaceuticals LLC with a $455
million bid.  Medicis, based in Scottsdale, Arizona, still must
obtain approval from Graceway's board and the bankruptcy court in
Wilmington, Delaware, to complete the acquisition.  Graceway will
ask U.S. Bankruptcy Judge Peter J. Walsh to approve the sale at
a hearing scheduled for Nov. 22.  Switzerland's Galderma SA was
the stalking horse bidder with a $275 million offer.

                  About Graceway Pharmaceuticals

Based in Bristol, Tennessee, Graceway Pharmaceuticals LLC offers
dermatology, respiratory, and women's health products. Its Zyclara
Cream is used for the treatment of external genital and perianal
warts (EGW) in patients 12 years of age and older. The company
offers products for the treatment of dermatology conditions, such
as actinic keratosis, superficial basal cell carcinoma, external
genital warts, atopic dermatitis, and acne; and respiratory
conditions, such as asthma.

Graceway Pharmaceuticals and its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Lead Case No. 11-13036) on
Sept. 29, 2011.

The company's debt includes $430.7 million owing on a first-lien
revolving credit and term loan.  Second-lien debt is $330 million,
with mezzanine debt totaling another $81.4 million.

Attorneys at Young Conaway Stargatt & Taylor LLP serve as counsel
to the Debtors.  Latham & Watkins LLP is the co-counsel.  Alvarez
and Marsal North America, LLC, is the financial advisor.  Lazard
Freres & Co. LLC is the investment banker.  PricewaterhouseCoopers
LLP is the tax consultant.  BMC Group serves as claims and notice
agent.

Lowenstein Sandler PC serves as the committee counsel.


GREAT ATLANTIC: Oppenheimer Analysts Lift EPS Estimates
-------------------------------------------------------
LocalizedUSA reports that equities research analysts at
Oppenheimer raised their earnings per share estimates on shares of
The Great Atlantic & Pacific Tea Company in a research note issued
to investors on Nov. 18, 2011.  They currently have a "market
perform" rating on the company's shares.

                  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 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.


GREENSHIFT CORP: Delays Filing of Third Quarter Form 10-Q
---------------------------------------------------------
GreenShift Corporation was unable to file its Quarterly Report on
Form 10-Q for the period ended Sept. 30, 2011, within the required
time because there was a delay in completing the adjustments
necessary to close its books for the quarter.

                    About Greenshift Corporation

Headquartered in New York, GreenShift Corporation develops and
commercializes clean technologies designed to integrate into and
leverage established production and distribution infrastructure to
address the financial and environmental needs of its clients by
decreasing raw material needs, facilitating co-product reuse, and
reducing waste and emissions.

The Company reported a net loss of $12.14 million on $7.73 million
of revenue for the twelve months ended Dec. 31, 2010, compared
with a net loss of $19.73 million on $3.87 million of revenue
during the prior year.

The Company's balance sheet at June 30, 2011, showed $6.74 million
in total assets, $50.97 million in total liabilities and a $44.23
million total stockholders' deficit.

As reported by the TCR on April 8, 2011, Rosenberg Rich Baker
Berman & Company, in Somerset, New Jersey, expressed substantial
doubt about the Company's ability to continue as a going concern,
following the Company's 2010 financial results.  The independent
auditors noted that the Company has suffered recurring losses from
operations and its total liabilities exceed its total assets.


GUITAR CENTER: Incurs $27.4 Million Net Loss in Third Quarter
-------------------------------------------------------------
Guitar Center Holdings, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $27.38 million on $488.12 million of net sales for the
three months ended Sept. 30, 2011, compared with a net loss of
$23.05 million on $465.01 million of net sales for the same period
a year ago.

The Company also reported a net loss of $64.78 million on
$1.46 billion of net sales for the nine months ended Sept. 30,
2011, compared with a net loss of $54.17 million on $1.41 billion
of net sales for the same period during the prior year.

The Company's balance sheet at Sept. 30, 2011, showed $2.06
billion in total assets, $1.97 billion in total liabilities and
$93.78 million in total stockholders' equity.

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

                        http://is.gd/uViaIc

                        About Guitar Center

Guitar Center, Inc., headquartered in Westlake Village, Calif., is
the largest musical instrument retailer with 312 stores and a
direct response segment, which operates its websites.  It operates
three distinct musical retail business - Guitar Center (about 70%
of revenue), Music & Arts (about 7% of revenue), and Musician's
Friend (its direct response subsidiary with 24% of revenue).
Total revenue is about $2 billion.

                          *     *     *

As reported in the Troubled Company Reporter on Feb. 28, 2011,
Moody's Investors Service affirmed Guitar Center, Inc.'s Caa2
Corporate Family Rating and the $622 million existing term loan
rating of Caa1 due October 2014.  The Probability of Default
Rating was revised to Caa2/LD from Caa2 while the Speculative
Grade Liquidity assessment was changed to SGL-2 from SGL-3.  The
rating outlook remains stable.

The Caa2/LD Probability of Default rating reflects Moody's view
that the extended deferral of interest on the Holdco notes
constitutes a distressed exchange under Moody's definition and
also anticipates that additional exchanges of this nature are
possible over the near term.  The Limited Default designation was
prompted by the company's executed amendment of the HoldCo notes,
which allows for a deferral of 50% of the interest payments for 18
months.  Moody's views this as a distressed exchange that provides
default avoidance.  This LD designation applies to the proposed
follow-on amendment to defer the HoldCo note interest payments by
another six months.  Subsequent to the actions, Moody's will
remove the LD designation and the PDR will be Caa2 going forward.


HANMI FINANCIAL: To Sell 87.5-Mil. Common Shares at $0.80 Apiece
----------------------------------------------------------------
Hanmi Financial Corporation announced the pricing of its
previously announced underwritten public offering of its common
stock, raising aggregate gross proceeds of approximately $70
million (not including the potential exercise by the underwriter
of its over-allotment option).  The offering consisted of
87,500,000 shares of common stock at a price to the public of
$0.80 per share.  FBR Capital Markets & Co. is the underwriter for
this offering.  The Company also granted the underwriter a 30-day
option to purchase up to 13,125,000 additional shares of common
stock, solely to cover over-allotments, if any.  The Company
expects issuance and delivery of the shares of common stock to
occur on Nov. 18, 2011, subject to customary closing conditions.

The Company intends to contribute a substantial portion of the net
proceeds form the offering to Hanmi Bank as additional capital and
to support future organic growth and future acquisition driven
growth.  The Company intends to retain the remaining net proceeds
at the Company level for use as working capital and other general
corporate purposes.

A registration statement relating to these securities has been
filed with the U.S. Securities and Exchange Commission and has
become effective.  This press release does not constitute an offer
to sell or a solicitation of an offer to buy the securities
described herein, nor will there be any sale of these securities
in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.  The
public offering of the Company's common stock may be made only by
means of a prospectus and a related prospectus supplement, copies
of which may be obtained by from FBR Capital Markets & Co.,
Prospectus Department, 1001 19th Street, North, Arlington, VA
22209, or by email at prospectuses@fbr.com.

                       About Hanmi Financial

Headquartered in Los Angeles, California, Hanmi Financial Corp.
(Nasdaq: HAFC) -- http://www.hanmi.com/-- is the holding company
for Hanmi Bank, a state chartered bank with headquarters located
at 3660 Wilshire Boulevard, Penthouse Suite A, in Los Angeles.
Hanmi Bank provides services to the multi-ethnic communities of
California, with 27 full-service offices in Los Angeles, Orange,
San Bernardino, San Francisco, Santa Clara and San Diego counties,
and a loan production office in Washington State.

The Company reported a net loss of $88.01 million on
$144.51 million of total interest and dividend income for the year
ended Dec. 31, 2010, compared with a net loss of $122.27 million
on $184.14 million during the prior year.

The Company's balance sheet at Sept. 30, 2011, showed
$2.68 billion in total assets, $2.48 billion in total liabilities,
and $203.20 million in total stockholders' equity.

                           Going Concern

The Company is required by federal regulatory authorities to
maintain adequate levels of capital to support its operations.
Hanmi Bank is also required to increase its capital and maintain
certain regulatory capital ratios prior to certain dates specified
in a Final Order issued by the California Department of Financial
Institutions.  By July 31, 2010, the Bank was required to increase
its contributed equity capital by not less than an additional $100
million and maintain a ratio of tangible stockholders' equity to
total tangible assets of at least 9.0%.

In addition, the Bank was also required to maintain a ratio of
tangible stockholders' equity to total tangible assets of at least
9.5 percent at Dec. 31, 2010 and until the Final Order is
terminated.

As a result of the successful completion of the registered rights
and best efforts offering in July 2010, the capital contribution
requirement set forth in the Final Order was satisfied.  However,
the tangible capital ratio requirement set for in the Final Order
has not been satisfied at Dec. 31, 2010. Further, should the
Company's asset quality continue to erode and require significant
additional provision for credit losses, resulting in added future
net operating losses at the Bank, or should the Company otherwise
fail to be profitable, the Company's capital levels will
additionally decline requiring the raising of more capital than
the amount currently required to satisfy the Company' agreements
with its regulators.

The Company said an inability to raise additional capital when
needed or comply with the terms of the Final Order or the Written
Agreement with the Board of Governors of the Federal Reserve
System, raises substantial doubt about its ability to continue as
a going concern.

The Company's independent registered public accounting firm in
their audit report for fiscal year 2010 has expressed substantial
doubt about the Company's ability to continue as a going concern.
Continued operations may depend on the Company's ability to comply
with the regulatory orders the Company is subject to.


HARRISBURG, PA: PCEDD Chief Counsel Named as Receiver
-----------------------------------------------------
Carla Main, substituting for Bloomberg News bankruptcy columnist
Bill Rochelle, reports that David Unkovic, chief lawyer for the
Pennsylvania Community and Economic Development Department, is set
to run the finances of the city of Harrisburg after Governor Tom
Corbett nominated him as the state's first municipal receiver.

According to the report, once approved by a state court, the
overseer may act without consent of the capital city's elected
officials.  Mr. Unkovic's appointment may be reviewed as soon as
Nov. 28.  Mr. Corbett on Oct. 24 declared a fiscal emergency
because of debt arising from Harrisburg's incinerator project.
Most council members said bankruptcy is the solution and that is
should supersede a receivership.

A federal judge will consider the validity of Harrisburg's
bankruptcy filing on Nov. 23.

Mark Schwartz, the council's bankruptcy lawyer, said a receiver's
appointment would violate a legal prohibition against lawsuits or
other legal actions against a debtor.

                 About Harrisburg, Pennsylvania

The city of Harrisburg, in Pennsylvania, is coping with debt
related to a failed revamp of an incinerator.  The city is
$65 million in default on $242 million owing on bonds sold to
finance an incinerator that converts trash to energy.

Four members of the City Council of Harrisburg on Oct. 11, 2011,
authorized the filing of a Chapter 9 bankruptcy petition (Bankr.
M.D. Pa. Case No. 11-06938) by the City of Harrisburg.  Judge Mary
D. France presides over the case.  Mark D. Schwartz, Esq. --
markschwartz6814@gmail.com -- and David A. Gradwohl, Esq., serve
as counsel.  The petition estimated $100 million to $500 million
in assets and debts.  Susan Wilson, the city's chairperson on
Budget and Finance, signed the petition.

The city council voted 4-3 on Oct. 11, 2011, to authorize the
Chapter 9 municipal bankruptcy filing. The city claims to be
insolvent, unable to pay its debt and in imminent danger of having
tax revenue seized by holders of defaulted bonds.

The city said in court papers it is in imminent jeopardy through
six pending legal actions by creditors with respect to a number of
outstanding bond issues relating to the Harrisburg Materials,
Energy, Recycling and Recovery Facilities, which processes waste
into steam and electrical energy.  The owner and operator of the
incinerator is The Harrisburg Authority, which is unable to pay
the bond issues.  The city is the primary guarantor under each
bond issue.  The lawsuits were filed by Dauphin County, where
Harrisburg is located, Joseph and Jacalyn Lahr, TD Bank N.A., and
Covanta Harrisburg Inc.

Two days after the Chapter 9 filing on Oct. 11, the state of
Pennsylvania filed a motion to dismiss the case as being
unauthorized. Later, the state adopted a new law allowing the
governor to appoint a receiver who may join those seeking
dismissal.

Harrisburg Mayor Linda D. Thompson and the state of Pennsylvania
have objected to the bankruptcy filing.  Mayor Thompson is
represented in the case by Kenneth W. Lee, Esq., Christopher E.
Fisher, Esq., Beverly Weiss Manne, Esq., and Michael A. Shiner,
Esq., at Tucker Arensberg, P.C.  Counsel to the Commonwealth of
Pennsylvania are Neal D. Colton, Esq., Jeffrey G. Weil, Esq., Eric
L. Scherling, Esq., at Cozen O'Connor.


HAWKER BEECHCRAFT: Reduction Program Affects 300 Employees
----------------------------------------------------------
Hawker Beechcraft Acquisition Company, LLC, on Nov. 11, 2011,
provided approximately 300 affected employees with 60-day notices
pursuant to the Worker Adjustment and Retraining Notification Act
(WARN) or, as applicable, notices pursuant to foreign statutory
requirements.  The Company first notified employees that it
expected to implement a reduction in force program affecting all
levels of the Company on Nov. 4, 2011.

This reduction program was implemented in order to resize and
align the Company to a smaller market with projected slower growth
in response to continued adverse market conditions affecting the
Business and General Aviation market and pressure on defense
spending by US and foreign governments.  It is expected that this
reduction program will be completed by the end of January 2012.
Affected employees will receive certain one-time termination
benefits, including severance payments and payment for non-working
notice periods.

The Company expects that it will record charges for one-time
termination benefits related to the reduction program in the
current quarter and the first quarter of 2012.  The Company
estimates that these charges will be approximately $6.9 million in
the aggregate.  The Company expects the cash impact to be
consistent with the amount of these charges.  The Company does not
anticipate other material costs to be incurred in connection with
this reduction program.

                       About Hawker Beechcraft

Hawker Beechcraft Acquisition Company, LLC, headquartered in
Wichita, Kan., is a manufacturer of business jets, turboprops and
piston aircraft for corporations, governments and individuals
worldwide.  The Company's balance sheet at June 30, 2011, showed
$3.01 billion in total assets, $3.33 billion in total liabilities,
and a $317.30 million deficit.

Hawker Beechcraft reported a net loss of $304.3 million on $2.80
billion of total sales for 12 months ended Dec. 31, 2010.  Net
loss in 2009 and 2008 was $451.3 million and $157.2 million,
respectively.  The Company reported a net loss of $126 million on
$1.14 billion of total sales for the six months ended June 30,
2011, compared with a net loss of $120 million on $1.20 billion of
total sales for the six months ended June 27, 2010.

To reduce the cost of operations, in October 2010, the Company
announced it would implement a cost reduction and productivity
program.  The first part of the program consisted of the immediate
termination of approximately 8% of salaried employees while the
second part involves reducing the Company's factory and shop work
forces by approximately 800 employees by end of August 2011.

                          *     *     *

As reported by the TCR on Sept. 16, 2011, Moody's Investors
Service has lowered all the credit ratings, including the
corporate family rating to Caa3 from Caa2, of Hawker Beechcraft
Acquisition Company LLC.  The rating outlook is negative.

The downgrades reflect Hawker Beechcraft's mounting retained
deficit and Moody's view that the soft economy dims chances for
profitability anytime soon.  Although limited near-term debt
maturities exist, with the prospect of further losses Moody's
views the capital structure to be unsustainable.  Pronounced risk
that some form of restructuring of the company's debt obligations
may occur underscores the negative rating outlook.  Softness in
most developed economies should constrain demand for the smaller
and mid-sized cabin aircraft that comprise the company's Business
and General Aviation product portfolio. While management has
aggressively lowered overhead and cut production costs, the
revenue outlook seems weak.  As of June 30, 2011, the debt to book
capital ratio was 114% and the trailing 12-month EBITDA to
interest ratio was 0.2x (Moody's adjusted basis)


HERITAGE CONSOLIDATED: Has Deal for Cash Access Until Nov. 30
-------------------------------------------------------------
Heritage Consolidated, LLC, et al., ask the U.S. Bankruptcy Court
for the Northern District of Texas to approve a stipulation
authoring cash collateral use until Nov. 30, 2011.  The
stipulation was entered with the Official Committee of Unsecured
Creditors.

                   About Heritage Consolidated

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

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

The Debtors tapped Malouf & Nockels LLP's as special counsel;
Munsch Hardt Kopf & Harr, P.C.; Rochelle McCullough, LLP; HSC, RM
LLP as special bankruptcy counsel to HSC; and Bridge Associates,
LLC, as financial advisor and designate Scott Pinsonnault as
interim chief restructuring officer.

The U.S. Trustee for Region 6 formed an Official Committee of
Unsecured Creditors in the Chapter 11 cases of Heritage
Consolidated LLC and its debtor-affiliates.


HERITAGE CONSOLIDATED: Informs Parties of Mailing Address Change
----------------------------------------------------------------
Heritage Consolidated, LLC, et al., notified the U.S. Bankruptcy
Court for the Northern District of Texas and all parties-in-
interest of the change in their mailing address.

The Debtors' new address is:

         Heritage Consolidated, LLC
         Heritage Standard Corporation
         3131 McKinney Avenue, Suite 710
         Dallas, TX 75204
         Tel: (214) 526-8118
         Fax: (214) 522-7182

                   About Heritage Consolidated

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

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

The Debtors tapped Malouf & Nockels LLP's as special counsel;
Munsch Hardt Kopf & Harr, P.C.; Rochelle McCullough, LLP; HSC, RM
LLP as special bankruptcy counsel to HSC; and Bridge Associates,
LLC, as financial advisor and designate Scott Pinsonnault as
interim chief restructuring officer.

The U.S. Trustee for Region 6 formed an Official Committee of
Unsecured Creditors in the Chapter 11 cases of Heritage
Consolidated LLC and its debtor-affiliates.


HMC/CAH CONSOLIDATED: Panel Taps Kilpatrick Townsend as Counsel
---------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
cases of HMC/CAH Consolidated, Inc. et al., asks the U.S.
Bankruptcy Court for the Western District of Missouri for
permission to retain the law firm of Kilpatrick Townsend &
Stockton LLP as its counsel.

The hourly rates of Kilpatrick Townsend's personnel are:

         Partners            $475 - $740
         Counsel                $475
         Associates          $265 - $420
         Paralegals             $220

Attorneys who will be primarily responsible for representing the
Committee and their hourly rates are:

         Todd C. Meyers         $725
         Colin M. Bernardino    $475
         Jeffrey P. Fuller      $390

Kilpatrick Townsend has agreed that, for purposes of these cases,
Mr. Meyers' hourly rate will be voluntarily reduced to $650.

                     About HMC/CAH Consolidated

Kansas City, Missouri-based HMC/CAH Consolidated, Inc., is in the
business of acquiring and operating a system of acute care
hospitals located in rural communities that are certified by The
Centers for Medicare and Medicaid Services as Critical Access
Hospitals or CAHs.  The core focus of HMC/CAH's business plan is
to replace the technologically out of date and operationally
inefficient medical facilities of its CAHs with newly constructed
state-of-the art facilities.  Since its incorporation, HMC/CAH has
purchased 12 rural hospitals certified as Critical Access
Hospitals.  These CAH Hospitals are located in Kansas (3),
Oklahoma (5), Missouri (1), Tennessee (1) and North Carolina (2).
The CAH Hospitals are the lifeline of the communities that they
serve.  The CAH Hospitals provide critical health services to
rural residents, including emergency medical services.

HMC/CAH and 12 affiliates filed for Chapter 11 bankruptcy (Bankr.
W.D. Mo. Case Nos. 11-44738 to 11-44750) on Oct. 10, 2011.  Judge
Dennis R. Dow presides over the case.  Mark T. Benedict, Esq., at
Husch Blackwell Sanders LLP, represents the Debtors as counsel.
In its petition, the Debtors estimated $10 million to $50 million
in assets and debts.  The petition was signed by Dennis Davis,
chief legal officer.

Nancy J. Gargula, U.S. Trustee for Region 13, appointed five
unsecured creditors to serve on the Official Committee of
Unsecured Creditors of HMC/CAH Consolidated, Inc.


HMC/CAH CONSOLIDATED: Court Rules Patient Care Umpire Not Needed
----------------------------------------------------------------
The Hon. Dennis R. Dow of the U.S. Bankruptcy Court for the
Western District of Missouri determined that appointment of a
patient care ombudsman in the Chapter 11 cases of HMC/CAH
Consolidated, Inc., et al., is not necessary.

The entry of the order will be without prejudice to the rights of
parties-in-interest to seek appointment of a patient care
ombudsman at a later date.

As reported in the Troubled Company Reporter on Oct. 27, 2011, the
Debtors said there are numerous reasons why the appointment of
a patient care ombudsman is not warranted.  The Debtors'
bankruptcy filing has been wholly driven by ordinary debt issues.
None of the debt issues which have precipitated this bankruptcy
filing relate to patient care issues.  Rather, the bankruptcy
filing represents the Debtors' best chance to resolve the debt
issues which have stalled their efforts to expand and upgrade
certain of their medical care facilities.  The achievement of
these goals will inure to the benefit of patients by raising the
level of patient care and cementing the long-term availability of
medical care to otherwise underserved rural communities.

The Debtors also pointed out that all of the agencies, groups, and
associations are supervising entities which actively assess
patient care issues at the Debtors' facilities.  The Debtors are
currently in good standing with all entities related to surveys
conducted within the last 15 months.

The Debtors also noted that all of the Hospital Debtors have had
on-site original surveys or follow-up surveys in 2011 and all of
the Hospital Debtors are accredited or compliant with all
conditions.  The Hospital Debtors' history of patient care is
excellent.  All relevant surveys and other data reveal high
patient satisfaction scores.  Any deficiencies have been
satisfactorily resolved.

                     About HMC/CAH Consolidated

Kansas City, Missouri-based HMC/CAH Consolidated, Inc., is in the
business of acquiring and operating a system of acute care
hospitals located in rural communities that are certified by The
Centers for Medicare and Medicaid Services as Critical Access
Hospitals or CAHs.  The core focus of HMC/CAH's business plan is
to replace the technologically out of date and operationally
inefficient medical facilities of its CAHs with newly constructed
state-of-the art facilities.  Since its incorporation, HMC/CAH has
purchased 12 rural hospitals certified as Critical Access
Hospitals.  These CAH Hospitals are located in Kansas (3),
Oklahoma (5), Missouri (1), Tennessee (1) and North Carolina (2).
The CAH Hospitals are the lifeline of the communities that they
serve.  The CAH Hospitals provide critical health services to
rural residents, including emergency medical services.

HMC/CAH and 12 affiliates filed for Chapter 11 bankruptcy (Bankr.
W.D. Mo. Case Nos. 11-44738 to 11-44750) on Oct. 10, 2011.  Judge
Dennis R. Dow presides over the case.  Mark T. Benedict, Esq., at
Husch Blackwell Sanders LLP, represents the Debtors as counsel.
In its petition, the Debtors estimated $10 million to $50 million
in assets and debts.  The petition was signed by Dennis Davis,
chief legal officer.

Nancy J. Gargula, U.S. Trustee for Region 13, appointed five
unsecured creditors to serve on the Official Committee of
Unsecured Creditors of HMC/CAH Consolidated, Inc.


HOMELAND SECURITY: Delays Filing Form 10-Q for Sept 30 Qtr.
-----------------------------------------------------------
Homeland Security Capital Corporation has been unable to complete
the required financial statements for the fiscal quarter ended
Sept. 30, 2011, on a timely basis without unreasonable effort or
expense due to the recent completion of several transactions by
the Company.  It is anticipated that the Quarterly Report on Form
10-Q, along with the financial statements, will be filed no later
than the fifth calendar day following the prescribed due date.

                       About Homeland Security

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

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

The Company reported a net loss of $3.98 million on $0 of revenue
for the year ended June 30, 2011, compared with net income of
$2.04 million on $0 of revenue during the prior year.

The Company's balance sheet at June 30, 2011, showed
$33.73 million in total assets, $40.35 million in total
liabilities, $169,768 in warrants payable, and a $6.79 million
total stockholders' deficit.

Coulter & Justus, P.C., in Knoxville, Tennessee, noted that
related party senior notes payable totaling $19,725,040 are due
and payable, the Company has incurred a loss from operations for
year ended June 30, 2011, and has a net capital deficiency in
addition to a working capital deficiency, which raises substantial
doubt about its ability to continue as a going concern.

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

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

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

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

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


HUNTER HELICOPTERS: Case Summary & 2 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Hunter Helicopters LLC
        9562 County Rd 2434
        Royse City, TX 75189

Bankruptcy Case No.: 11-62172

Chapter 11 Petition Date: November 16, 2011

Court: United States Bankruptcy Court
       District of Montana (Butte)

Judge: Ralph B. Kirscher

Debtor's Counsel: James A. Patten, Esq.
                  PATTEN PETERMAN BEKKEDAHL & GREEN
                  Ste 300, The Fratt Bldg
                  2817 2nd Ave N
                  Billings, MT 59101
                  Tel: (406) 252-8500
                  Fax: (406) 294-9500
                  E-mail: japatten@ppbglaw.com

Scheduled Assets: $1,745,122

Scheduled Debts: $1,874,350

A list of the Company's two largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/mtb11-62172.pdf

The petition was signed by Hunter Glass, managing member.


HUSSEY COPPER: Files Schedules of Assets and Liabilities
--------------------------------------------------------
Hussey Copper Corp. and certain of its affiliates have filed their
respective schedules of assets and liabilities with the U.S.
Bankruptcy Court for the District of Delaware.

Hussey Copper Ltd.'s schedules disclosed:

    Name of Schedule              Assets         Liabilities
    ----------------            -----------      -----------
A. Real Property                $1,801,703
B. Personal Property           $78,958,593
C. Property Claimed as
    Exempt
D. Creditors Holding
    Secured Claims                               $40,570,958
E. Creditors Holding
    Unsecured Priority
    Claims                                           Unknown
F. Creditors Holding
    Unsecured Non-priority
    Claims                                       $31,548,878
                                -----------      -----------
       TOTAL                    $80,760,296      $72,119,837

A copy of Hussey Copper Ltd.'s schedules is available for free at:

         http://bankrupt.com/misc/husseycopperltd.sal.pdf

Hussey Copper Corp.'s schedules disclosed:

    Name of Schedule                Assets       Liabilities
    ----------------               --------      -----------
A. Real Property                        $0
B. Personal Property              $445,832
C. Property Claimed as
    Exempt
D. Creditors Holding
    Secured Claims                                        $0
E. Creditors Holding
    Unsecured Priority
    Claims                                           Unknown
F. Creditors Holding
    Unsecured Non-priority
    Claims                                           Unknown
                                   --------      -----------
       TOTAL                       $445,832               $0

A copy of Hussey Copper's schedules is available for free at:

          http://bankrupt.com/misc/husseycopper.sal.pdf

Cougar Metals, Inc.'s schedules disclosed:

    Name of Schedule               Assets        Liabilities
    ----------------             ----------      -----------
A. Real Property                        $0
B. Personal Property            $1,112,474
C. Property Claimed as
    Exempt
D. Creditors Holding
    Secured Claims                                        $0
E. Creditors Holding
    Unsecured Priority
    Claims                                           Unknown
F. Creditors Holding
    Unsecured Non-priority
    Claims                                       $39,968,436
                                 ----------      -----------
       TOTAL                     $1,112,474      $39,968,436

A copy of Cougar Metals' schedules is available for free at:

          http://bankrupt.com/misc/cougarmetals.sal.pdf

OAP Real Estate, LLC's schedules disclosed:

    Name of Schedule               Assets        Liabilities
    ----------------             ----------      -----------
A. Real Property                  $327,028
B. Personal Property            $1,199,445
C. Property Claimed as
    Exempt
D. Creditors Holding
    Secured Claims                                $2,400,000
E. Creditors Holding
    Unsecured Priority
    Claims                                                $0
F. Creditors Holding
    Unsecured Non-priority
    Claims                                       $40,570,958
                                 ----------      -----------
       TOTAL                     $1,526,473      $42,970,598

A copy of OAP Real Estate's schedules is available for free at:

          http://bankrupt.com/misc/oaprealestate.sal.pdf

Hussey Exports Ltd.'s schedules disclosed:

    Name of Schedule               Assets        Liabilities
    ----------------             ----------      -----------
A. Real Property                        $0
B. Personal Property                    $0
C. Property Claimed as
    Exempt
D. Creditors Holding
    Secured Claims                                        $0
E. Creditors Holding
    Unsecured Priority
    Claims                                                $0
F. Creditors Holding
    Unsecured Non-priority
    Claims                                       $38,170,958
                                 ----------      -----------
       TOTAL                             $0      $38,170,958

A copy of Hussey Exports' schedules is available for free at

          http://bankrupt.com/misc/husseyexports.sal.pdf

Orbie Trading, L.P.'s schedules disclosed:

    Name of Schedule               Assets        Liabilities
    ----------------             ----------      -----------
A. Real Property                        $0
B. Personal Property              $262,531
C. Property Claimed as
    Exempt
D. Creditors Holding
    Secured Claims                                        $0
E. Creditors Holding
    Unsecured Priority
    Claims                                                $0
F. Creditors Holding
    Unsecured Non-priority
    Claims                                       $38,170,958
                                 ----------      -----------
       TOTAL                       $262,531      $38,170,958

A copy of Orbie Trading's schedules is available for free at:

          http://bankrupt.com/misc/orbietrading.sal.pdf

                       About Hussey Copper

Hussey Copper Corp., based in Leetsdale, Pennsylvania, is one of
the leading manufacturers of copper products in the United States.
Hussey Copper was founded in Pittsburgh in 1848.  The Company and
its affiliates, which operate one manufacturing facility in
Leetsdale and two facilities in Eminence, Kentucky, manufacture "a
wide range of value-added copper products and copper-nickel
products.  The Company has more than 500 full-time employees.

Hussey Copper Corp. filed a Chapter 11 petition (Bankr D. Del.
Case No. 11-13010) on Sept. 27, 2011.  Five other affiliates also
filed separate petitions (Case Nos. 11-13012 to 11-13016). Hussey
Copper Ltd. estimated $100 million to $500 million in assets and
debts.  Hussey Copper Corp. estimated up to $50,000 in assets and
up to $100 million in debts.

Mark Minuti, Esq., at Saul Ewing LLP, serves as counsel to the
Debtors.  Donlin Recano & Company Inc. is the claims and notice
agent.

An official creditors' committee with seven members was appointed.
Lowenstein Sandler PC serves as the committee counsel.


HUSSEY COPPER: Court Okays Klehr as Committee Counsel
-----------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Hussey Copper Corp.'s official committee of unsecured creditors to
retain Klehr Harrison Harvey Branzburg LLP as counsel.

Upon retention, the firm will, among other things:

   a. advise the Creditors' Committee with respect to its rights,
      powers and duties in these cases;

   b. attend meetings and negotiate with the representatives of
      the Debtors and other consultants; and

   c. assist and advise the Creditors' Committee in the
      examination and analysis of the conduct of the Debtors'
      affairs.

The firm's rates are:

    Personnel               Rates
    ---------               -----
    Partners            $325-$600/hour
    Associates          $205-$365/hour
    Paralegals          $120-$190/hour

Domenic E. Pacitti, a partner of Klehr Harrison, attests that the
firm is a "disinterested person," as that term is defined in
section 101(14) of the Bankruptcy Code.

                         About Hussey Copper

Hussey Copper Corp., based in Leetsdale, Pennsylvania, is one of
the leading manufacturers of copper products in the United States.
Hussey Copper was founded in Pittsburgh in 1848.  The Company and
its affiliates, which operate one manufacturing facility in
Leetsdale and two facilities in Eminence, Kentucky, manufacture "a
wide range of value-added copper products and copper-nickel
products.  The Company has more than 500 full-time employees.

Hussey Copper Corp. filed a Chapter 11 petition (Bankr D. Del.
Case No. 11-13010) on Sept. 27, 2011, with a deal to sell
substantially all assets.  Five other affiliates also filed
separate petitions (Case Nos. 11-13012 to 11-13016). Hussey
Copper Ltd. estimated $100 million to $500 million in assets and
debts.  Hussey Copper Corp. estimated up to $50,000 in assets and
up to $100 million in debts.

Mark Minuti, Esq., at Saul Ewing LLP, serves as counsel to the
Debtors.  Donlin Recano & Company Inc. is the claims and notice
agent.

An official creditors' committee has been appointed in the case.
The panel selected Lowenstein Sandler PC as counsel.  The panel
selected FTI Consulting, Inc. as restructuring and financial
advisor.

The stalking horse bidder, KHC Acquisitions LLC, a unit of Kataman
Metals LLC, is represented in the case by David D. Watson, Esq.,
and Scott Opincar, Esq., at McDonald Hopkins LLC, in Cleveland.
Counsel to PNC Bank NA, as lender, issuer and agent for the
Debtors' secured lenders, are Lawrence F. Flick II, Esq., Blank
Rome LLP, in New York, and, Regina Stango Kelbon, Esq., at Blank
Rome LLP, in Wilmington, serves as counsel.


HUSSEY COPPER: Court OKs Lowenstein Sandler as Committee's Counsel
------------------------------------------------------------------
Hussey Copper Corp.'s official committee of unsecured creditors
obtained permission from the U.S. Bankruptcy Court for the
District of Delaware to retain Lowenstein Sandler PC counsel.

Upon retention, the firm will, among other things:

   a. provide legal advice necessary with respect to the
      Committee's powers and duties as an official committee
      appointed under Sec. 1102 of the Bankruptcy Code;

   b. assist the Committee in negotiating favorable terms for
      unsecured creditors with respect to (i) any proposed asset
      purchased agreement for the sale of substantially all of the
      Debtor's assets, (ii) the Debtor's request for final
      approval for financing or for the use of its cash
      collateral, and (iii) other request for relief which would
      impact unsecured creditors; and

   c. prepare on behalf of the Committee, as necessary,
      applications, motions, complaints, answers, orders,
      agreements and other legal papers.

The firm's rates are:

      Personnel            Rates
      ---------            -----
      Partners             $435-$895/hour
      Senior Counsel       $390-$660/hour
      Counsel              $350-$630/hour
      Associates           $250-$470/hour
      Legal Assistants     $145-$245/hour

Sharon L. Levine, member of Lowenstein Sandler, attests that the
firm is a "disinterested person," as that term is defined in
Section 101(14) of the Bankruptcy Code.

                         About Hussey Copper

Hussey Copper Corp., based in Leetsdale, Pennsylvania, is one of
the leading manufacturers of copper products in the United States.
Hussey Copper was founded in Pittsburgh in 1848.  The Company and
its affiliates, which operate one manufacturing facility in
Leetsdale and two facilities in Eminence, Kentucky, manufacture "a
wide range of value-added copper products and copper-nickel
products.  The Company has more than 500 full-time employees.

Hussey Copper Corp. filed a Chapter 11 petition (Bankr D. Del.
Case No. 11-13010) on Sept. 27, 2011, with a deal to sell
substantially all assets.  Five other affiliates also filed
separate petitions (Case Nos. 11-13012 to 11-13016). Hussey
Copper Ltd. estimated $100 million to $500 million in assets and
debts.  Hussey Copper Corp. estimated up to $50,000 in assets and
up to $100 million in debts.

Mark Minuti, Esq., at Saul Ewing LLP, serves as counsel to the
Debtors.  Donlin Recano & Company Inc. is the claims and notice
agent.

An official creditors' committee has been appointed in the case.
The panel selected FTI Consulting, Inc. as restructuring and
financial advisor.  The panel selected Klehr Harrison Harvey
Branzburg LLP as counsel.

The stalking horse bidder, KHC Acquisitions LLC, a unit of Kataman
Metals LLC, is represented in the case by David D. Watson, Esq.,
and Scott Opincar, Esq., at McDonald Hopkins LLC, in Cleveland.
Counsel to PNC Bank NA, as lender, issuer and agent for the
Debtors' secured lenders, are Lawrence F. Flick II, Esq., Blank
Rome LLP, in New York, and, Regina Stango Kelbon, Esq., at Blank
Rome LLP, in Wilmington, serves as counsel.


IMPERIAL CAPITAL: Court Sets Dec. 20 Disclosure Statement Hearing
-----------------------------------------------------------------
On Oct. 27, 2011, Imperial Capital Bancorp, Inc. and Holdco
Advisors L.P. filed with the U.S. Bankruptcy Court for the
Southern District of California a proposed new plan of
reorganization and a proposed disclosure statement regarding the
New Plan.

A copy of the proposed New Plan is available for free at:

                       http://is.gd/RG6Pf6

A copy of the New Disclosure Statement is available for free at:

                       http://is.gd/YX8VPr

As described in the proposed New Plan and the New Disclosure
Statement, if the New Plan is confirmed by an order of the
Bankruptcy Court, based upon assets available for distribution,
creditors of the Company will not be paid in full under the New
Plan.  Consequently, the Company predicts that, after payment to
the Company's unsecured creditors, there will be no assets
available for distribution to the holders of the Company's common
stock.  Holders of equity interests in the Company (including the
Stockholders) will not receive or retain any property or assets
under the New Plan and are therefore deemed to have rejected the
New Plan and are not entitled to vote.

With no available assets to distribute to the Stockholders, as
contemplated in the New Plan, the Company expects the Bankruptcy
Court to extinguish the Company's common stock upon approval of
the New Plan.  Promptly after the extinguishment, the Company will
seek to terminate its registration under Section 12(g) of the
Securities Exchange Act of 1934 by filing a Form 15 with the
Securities and Exchange Commission.

A hearing on the proposed New Disclosure Statement is scheduled
for 2:00 p.m., PDT, on Tuesday, Dec. 20, 2011.  A hearing to
confirm the New Plan is scheduled for 2:00 p.m., PDT on Tuesday,
Feb. 28, 2012, at the same location, if the New Disclosure
Statement is approved.

                  About Imperial Capital Bancorp

La Jolla, California-based Imperial Capital Bancorp, Inc., filed
for Chapter 11 bankruptcy protection (Bankr. S.D. Calif. Case No.
09-19431) on Dec. 18, 2009.  Gregory K. Jones, Esq., at Stutman,
Treister & Glatt, P.C., serves as the Company's bankruptcy
counsel.  FTI Consulting Inc. serves as its financial advisor.
The Company disclosed $40.4 million in assets and $98.7 million in
liabilities.

Tiffany L. Carroll, the U.S. Trustee for Region 15, appointed
three members to the official committee of unsecured creditors in
the Debtor's case.

The Debtor's proposed Liquidating Plan of Reorganization provides
that based upon assets available for distribution, creditors of
the Company will not be paid in full under the Plan.  The Company
predicts that, after payment to the Company's unsecured creditors,
there will be no assets available for distribution to the holders
of the Company's common stock.


INTERNATIONAL TEXTILE: Incurs $14.5 Million 3rd Quarter Net Loss
----------------------------------------------------------------
International Textile Group, Inc., filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q,
reporting a net loss of $14.51 million on $193.75 million of net
sales for the three months ended Sept. 30, 2011, compared with a
net loss of $12.79 million on $157.44 million of net sales for the
same period during the prior year.

The Company reported a net loss of $46.30 million on
$616.13 million of net sales for the year ended Dec. 31, 2010,
compared with a net loss of $216.97 million on $659.26 million of
net sales during the prior year.

The Company also reported a net loss of $40.26 million on
$527.45 million of net sales for the nine months ended Sept. 30,
2011, compared with a net loss of $30 million on $466.35 million
of net sales for the same period a year ago.

The Company's balance sheet at Sept. 30, 2011, showed
$486.71 million in total assets, $631.21 million in total
liabilities and a $144.50 million total stockholders' deficit.

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

                       http://is.gd/2oHUbc

                    About International Textile

International Textile Group, Inc., is a global, diversified
textile manufacturer headquartered in Greensboro, North Carolina,
with current operations principally in the United States, China,
Mexico, and Vietnam.  ITG's long-term focus includes the
realization of the benefits of its global expansion, including
reaching full production at ITG facilities in China and Vietnam,
and continuing to seek other strategic growth opportunities.


IVEDCO LLC: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Ivedco, LLC
        2310 Lyndon B. Johnson Frwy., Suite 100
        Dallas, TX 75234

Bankruptcy Case No.: 11-37310

Chapter 11 Petition Date: November 17, 2011

Court: United States Bankruptcy Court
       Northern District of Texas (Dallas)

Judge: Harlin DeWayne Hale

Debtor's Counsel: Christopher J. Moser, Esq.
                  QUILLING SELANDER LOWNDS WINSLETT & MOSER
                  2001 Bryan Street Suite 1800
                  Dallas, TX 75201-4240
                  Tel: (214) 880-1805
                  Fax: (214) 871-2111
                  E-mail: cmoser@qsclpc.com

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

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/txnb11-37310.pdf

The petition was signed by Mohammed Balila, for EDCO Holdings,
Inc.


KAD INCORPORATED: Case Summary & 15 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: KAD, Incorporated
        1025 Ridge Drive
        Clayton, NC 27520

Bankruptcy Case No.: 11-08828

Chapter 11 Petition Date: November 17, 2011

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

Debtor's Counsel: R. Dannette Underwood, Esq.
                  UNDERWOOD LAW OFFICE
                  2523 Government Road
                  Clayton, NC 27520
                  Tel: (919) 585-6260
                  Fax: (919) 585-6266
                  E-mail: rduatty@yahoo.com

Scheduled Assets: $886,400

Scheduled Debts: $1,890,439

A list of the Company's 15 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/nceb11-08828.pdf

The petition was signed by Kevin L. Bunn.


LAS VEGAS MONORAIL: Judge Markell Rejects Chapter 11 Exit Plan
--------------------------------------------------------------
U.S. Bankruptcy Court Judge Bruce Markell rejected on Nov. 18,
2011, Las Vegas Monorail's plan to exit Chapter 11 bankruptcy
because the terms "doom it to failure."

The Associated Press, citing report from Las Vegas Review-Journal,
reports that Monorail officials had projected that if their
savings plan was approved the monorail would still come up $38.4
million short in eight years.

The Troubled Company Reporter on Sept. 20, 2011, said that under
the Plan, bondholders, owed $500.2 million, will be repaid with
three sets of new bonds totaling $44.5 million.  The legal
disputes between these bondholders and another set of bondholders
owed $158.7 million were settled in August.

Class 3 General Unsecured Claims will receive the lesser of 100%
of its Allowed General Unsecured Claim and its Pro Rata share of
an aggregate of $175,000.  But in no event will the total payment
to the holders of all Allowed General Unsecured Claims exceed
$175,000, it being understood that if the total payment would
exceed $175,000, the holders of Allowed General Unsecured Claims
will instead receive their pro rata share of $175,000.

A full-text copy of the Third Amended Disclosure Statement, dated
Sept. 15, is available for free at:

               http://ResearchArchives.com/t/s?7717

                      About Las Vegas Monorail

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

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

In April 2010, bondholder Ambac Assurance Corp. lost in its bid to
halt the bankruptcy after U.S. Bankruptcy Judge Bruce A. Markell
ruled that Monorail isn't a municipality and is therefore entitled
to reorganize in Chapter 11.  U.S. District Judge James Mahan in
Reno upheld the ruling in October 2010.


LEHR CONSTRUCTION: Ch. 11 Trustee Hires Glanstein as Counsel
------------------------------------------------------------
Lehr Construction Corp.'s Chapter 11 trustee, Jonathan L. Flaxer,
asks the U.S. Bankruptcy Court for the Southern District of New
York to employ Glanstein LLP as special labor and employment law
counsel.

The Debtor is currently winding down its business operations,
which will result in the discontinuance of the Debtor's various
employment benefit programs and termination of employees.

Upon retention, the firm will, among other things:

   -- advise the Chapter 11 Trustee to the proper procedures
      to terminate various employment benefit programs,

   -- properly notify participants in the various employment
      benefit programs of their rights; and

   -- counsel the Chapter 11 Trustee concerning labor and
      employment law issues as they arise.

David Glanstein, a member of Glanstein LLP, attests that the firm
is a "disinterested person" as the term is defined in Section
101(14) of the Bankruptcy Code.

The Chapter Trustee 11 understands that Gianstein LLP will charge
for services rendered on an hourly basis, and for reimbursement
for reasonable expenses incurred in connection with performing
such services.

                    About Lehr Construction

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

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

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

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


LITHIUM TECHNOLOGY: Delays Filing of 3rd Quarter Form 10-Q
----------------------------------------------------------
Lithium Technology Corporation notified the U.S. Securities and
Exchange Commission that it requires additional time to complete
its quarterly financial statements and corresponding narratives
for management's discussion and analysis.  As a result of these
factors, the Company has been unable to complete and file its
Quarterly Report on Form 10-Q for the period ended Sept. 30, 2011,
without unreasonable effort and expense.

                      About Lithium Technology

Plymouth Meeting, Pa.-based Lithium Technology Corporation is a
mid-volume production stage company that develops large format
lithium-ion rechargeable batteries to be used as a new power
source for emerging applications in the automotive, stationary
power, and national security markets.

The Company reported a net loss of $7.25 million on $6.35 million
of products and services sales for the year ended Dec. 31, 2010,
compared with a net loss of $10.51 million on $7.37 million of
product and services sales during the prior year.

The Company's balance sheet at June 30, 2011, showed $10.29
million in total assets, $37.44 million in total liabilities and a
$27.15 million total stockholders' deficit.

                     $7 Mil. Funding Needed

As reported by the TCR on April 8, 2011, the Company entered into
a number of financing transactions and is continuing to seek other
financing initiatives.  The Company said it will need to raise
additional capital to meet its working capital needs and to
complete its product commercialization process.  Such capital is
expected to come from the sale of securities and debt financing.
The Company believes that if it raises approximately $7 million in
debt and equity financings, the Company would have sufficient
funds to meet its needs for working capital and capital
expenditures and to meet expansion plans during 2011.  If the
Company is not able to raise such additional capital, the Company
will assess all available alternatives including a sale of the
Company's assets or merger, the suspension of operations and
possibly liquidation, auction, bankruptcy, or other measures.

                          Going Concern

As reported by the TCR on April 8, 2011, Amper, Politziner &
Mattia, LLP, Edison, New Jersey, after auditing the Company's
financial statements for the year ended Dec. 31, 2010, noted that
the Company has recurring losses from operations since inception
and has a working capital deficiency that raise substantial doubt
about its ability to continue as a going concern.

In the Form 10-Q, the Company acknowledged that as of March 31,
2011, it had an accumulated deficit of approximately $158,555,000.
The Company has financed its operations since inception primarily
through equity financings, loans from shareholders and other
related parties, loans from silent partners and bank borrowings
secured by assets.  The Company has recently entered into a number
of financing transactions and are continuing to seek other
financing initiatives.  The Company will need to raise additional
capital to meet its working capital needs and to complete its
product commercialization process.  Such capital is expected to
come from the sale of securities and debt financing.  Continuation
of the Company's operations in the future is dependent upon
obtaining consent from the lenders to extend the respective
maturity date of the debentures.


LITTLETON APARTMENTS: Court Denies Request for Case Dismissal
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
denied TPG (Alexan) Note Acquisition, LLC, and Zions
Bancorporation's motion to dismiss the Chapter 11 cases of
Littleton Apartments LLC and MS 128 Littleton Limited Partnership
or, in the alternative, for abstention.

Based in Dallas, Texas, Littleton Apartments LLC, owns a newly
constructed 350-unit luxury apartment property in downtown
Littleton, Colorado, known as the "Alexan Downtown Littleton".  MS
128 Littleton Limited Partnership owns 100% of the membership
interests in Littleton and has no other assets.  Neither Littleton
nor MS 128 have any employees.  The Property is managed by GREP
Southwest, LLC d/b/a Greystar, pursuant to a Management Agreement.

Littleton and MS 128 filed separate Chapter 11 petitions (Bankr.
N.D. Tex. Case Nos. 11-34564 and 11-34563) on July 14, 2011.  The
cases are jointly administered.  Judge Stacey G. Jernigan presides
over the cases.  Patrick J. Neligan, Jr., Esq., at Neligan Foley
LLP, serves as counsel.  Littleton Apartments disclosed $571,814
in assets and $54,293,432 in liabilities.  Affiliate MS 128
Littleton Limited Partnership also filed its schedules disclosing
assets of $100 and liabilities of $0.  The petitions were signed
by Timothy J. Hogan, vice president.


LITTLETON APARTMENTS: Neligan Foley OK'd to Handle Chapter 11 Case
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
authorized Littleton Apartments LLC and MS 128 Littleton Limited
Partnership to employ Neligan Foley LLP as their counsel under a
general retainer.

As reported in the Troubled Company Reporter on Aug. 10, 2011,
Neligan Foley is performing legal services that will be necessary
during the Chapter 11 cases.

Nicholas A. Foley, a partner in Neligan Foley told the Court that
prior to the Petition Date, Neligan Foley received a deposit of
$150,000 from the Debtors.  Neligan Foley applied $30,361 of the
funds to prepetition fees and expenses.  Thus, Neligan Foley is
now holding $119,638 in trust for the Debtors.

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

                    About Littleton Apartments

Based in Dallas, Texas, Littleton Apartments LLC, owns a newly
constructed 350-unit luxury apartment property in downtown
Littleton, Colorado, known as the "Alexan Downtown Littleton".  MS
128 Littleton Limited Partnership owns 100% of the membership
interests in Littleton and has no other assets.  Neither Littleton
nor MS 128 have any employees.  The Property is managed by GREP
Southwest, LLC d/b/a Greystar, pursuant to a Management Agreement.

Littleton and MS 128 filed separate Chapter 11 petitions (Bankr.
N.D. Tex. Case Nos. 11-34564 and 11-34563) on July 14, 2011.  The
cases are jointly administered.  Judge Stacey G. Jernigan presides
over the cases.  Patrick J. Neligan, Jr., Esq., at Neligan Foley
LLP, serves as counsel.  Littleton Apartments disclosed $571,814
in assets and $54,293,432 in liabilities.  Affiliate MS 128
Littleton Limited Partnership also filed its schedules disclosing
assets of $100 and liabilities of $0.  The petitions were signed
by Timothy J. Hogan, vice president.


LITTLETON APARTMENTS: Wins Court OK to Hire Apartment Realty
------------------------------------------------------------
Littleton Apartments LLC and MS 128 Littleton Limited Partnership
sought and obtained authority from the U.S. Bankruptcy Court for
the Northern District of Texas to retain and employ Apartment
Realty Advisors LLLP to provide real estate listing and brokerage
services to the Debtor.

Prior to the Petition Date, Littleton retained ARA to serve as the
exclusive broker to market and sell a newly-constructed 350-unit
luxury apartment property in downtown Littleton, Colorado known as
the "Alexan Downtown Littleton" under the terms of a Listing
Contract, dated June 22, 2011.

Under the terms of the Listing Contract, ARA will serve as
Littleton?s agent for the marketing and sale of the Property
during the period of June 27, 2011 through Dec. 31, 2011.  If a
sale is consummated during the Listing Period, ARA will be
entitled to a commission of 0.50% (.005) of the gross purchase
price of the Property.  Littleton has the right to refuse any
offer received by ARA and may cancel the Listing Agreement on 30
days' written notice to ARA.

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

                    About Littleton Apartments

Based in Dallas, Texas, Littleton Apartments LLC, owns a newly
constructed 350-unit luxury apartment property in downtown
Littleton, Colorado, known as the "Alexan Downtown Littleton".  MS
128 Littleton Limited Partnership owns 100% of the membership
interests in Littleton and has no other assets.  Neither Littleton
nor MS 128 have any employees.  The Property is managed by GREP
Southwest, LLC d/b/a Greystar, pursuant to a Management Agreement.

Littleton and MS 128 filed separate Chapter 11 petitions (Bankr.
N.D. Tex. Case Nos. 11-34564 and 11-34563) on July 14, 2011.  The
cases are jointly administered.  Judge Stacey G. Jernigan presides
over the cases.  Patrick J. Neligan, Jr., Esq., at Neligan Foley
LLP, serves as counsel.  In its petition, Littleton Apartments
estimated assets and debts of $50 million to $100 million.  The
petitions were signed by Timothy J. Hogan, vice president.


LOS GATOS: Plaintiffs Say Hotel May be Lost to Foreclosure
----------------------------------------------------------
Eli Segall at San Jose Business Journal notes that a lawsuit filed
in September 2011 has one side of the Hotel Los Gatos ownership
group accusing the other side of extortion and interfering with
the hotel's Chapter 11 bankruptcy reorganization.  The plaintiffs
-- real estate developers and brothers Alan and David Pinn -- said
the hotel is now likely to be lost in a foreclosure auction.

                          About Los Gatos

San Jose, California-based Los Gatos Hotel Corporation, dba Hotel
Los Gatos, was formed in 2000 to build and operate Hotel Los
Gatos, a full-service boutique hotel in downtown Los Gatos,
California.

Los Gatos Hotel filed for Chapter 11 bankruptcy protection on
December 27, 2010 (Bankr. N.D. Calif. Case No. 10-63135).  The
Debtor disclosed $17,191,277 in assets and $12,896,468 in
liabilities as of the Chapter 11 filing.  Affiliate Blossom Valley
Investors, Inc., filed a separate Chapter 11 petition on September
10, 2009 (Bankr. N.D. Calif. Case No. 09-57669).

Jeffry A. Davis, Esq., at Mintz Levin Cohn Ferris Glovsky Popeo,
serves as the Debtor's bankruptcy counsel.  The Debtor has tapped
OSAS Inc. as financial advisor and investment banker.


LSL INVESTMENTS: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: LSL Investments, LLC
        428 Highway 6E, Suite 308
        Batesville, MS 38606

Bankruptcy Case No.: 11-15343

Chapter 11 Petition Date: November 16, 2011

Court: United States Bankruptcy Court
       Northern District of Mississippi (Aberdeen)

Debtor's Counsel: Russell W. Savory, Esq.
                  GOTTEN, WILSON, SAVORY & BEARD, PLLC
                  88 Union Avenue, 14th Floor
                  Memphis, TN 38103
                  Tel: (901) 523-1110
                  E-mail: russell.savory@gwsblaw.com

Estimated Assets: $0 to $50,000

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

The Debtor did not file a list of its largest unsecured creditors
together with its petition.

The petition was signed by Rodney Lancaster, member.

Affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Rodney B. Lancaster                    11-14330   09/22/2011


LTS NUTRACEUTICALS: Incurs $1.1 Million Net Loss in 3rd Quarter
---------------------------------------------------------------
LTS Nutraceuticals, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $1.11 million on $1.19 million of net sales for the
three months ended Sept. 30, 2011, compared with a net loss of
$126,333 on $249,761 of net sales for the same period during the
previous year.

The Company also reported a net loss of $2.96 million on
$1.75 million of net sales for the nine months ended Sept. 30,
2011, compared with a net loss of $471,235 on $997,657 of net
sales for the same period a year ago.

The Company's balance sheet at Sept. 30, 2011, showed
$3.48 million in total assets, $8.03 million in total liabilities,
and a $4.55 million total stockholders' deficiency.

On Nov. 10, 2011, the Company had $37,633 in cash.  The current
operating plan indicates that losses from operations may be
incurred for all of fiscal 2011.  Consequently the Company said it
may not have sufficient liquidity necessary to sustain operations
for the next twelve months and this raises substantial doubt that
the Company will be able to continue as a going concern.

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

                        http://is.gd/mnRNYU

                      About LTS Nutraceuticals

Ft. Lauderdale, Fla.-based LTS Nutraceuticals, Inc., develops and
sells high-quality nutritional products that are distributed
throughout North America through a network marketing system, which
is a form of direct selling.


MAGUIRE GROUP: May Pursue Claims vs. Former Owners
--------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reported that Maguire Group Inc., a civil engineering firm based
in Miami, filed for Chapter 11 protection to work out issues
related to the company's acquisition in 2009.

Maguire provides architectural, engineering, planning and
construction management services mostly for federal, state and
local governmental entities. Revenue in 2010 was $27.8 million.
So far this year, revenue has been $19.3 million, according to
court filings.

There is less than $1 million in secured debt. Unsecured creditors
have claims for more than $40 million, court papers say.

According to the report, the Company says that former owners
didn't make accurate disclosure when the company was sold. The new
owners resorted to Chapter 11 to find solutions to lawsuits and
claims for and against the company.

Maguire Group Holdings, Inc., along with affiliates, sought
Chapter 11 proteoction (Bankr. S.D. Fla. Case No. 11-39347) on
Oct. 24, 2011.  Attorneys at Berger Singerman, P.A., serve as
Kurtzman Carson Consultants LLC is the claims and notice agent.
Rasky Baerlein Strategic Communications, Inc., is the
communications consultant.


MANISTIQUE PAPERS: Committee Hires J.H. Cohn as Financial Advisors
------------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
the Official Committee of Unsecured Creditors in the Chapter 11
case of Manistique Papers, Inc., to retain J.H. Cohn LLP as
financial advisors.

To the best of the Committee's knowledge, J.H. Cohn is a
"disinterested person" as that term is defined in section 101(14)
of the Bankruptcy Code.

                      About Manistique Papers

Manistique Papers Inc. operates a landfill in Manistique,
Michigan, whereby residuals resulting from paper production are
deposited.  Manistique Papers filed for Chapter 11 bankruptcy
protection (Bankr. D. Del. Case No. 11-12562) on Aug. 12, 2011.

Godfrey & Kahn, S.C. represents the Debtor in its restructuring
effort.  Morris, Nichols, Arsht & Tunnell LLP serves as its
Delaware bankruptcy co-counsel.  Vector Consulting, L.L.C., serves
as its financial advisor.  Baker Tilly Virchow Krause, LLC, serves
as its accountant.

The Official Committee of Unsecured Creditors appointed in the
Chapter 11 cases of Manistique Papers is represented by Lowenstein
Sandler PC as lead counsel and Ashby & Geddes, P.A., as Delaware
counsel.  J.H. Cohn LLC serves as the panel's financial advisor.
Manistique Papers disclosed $19,688,471 in assets and $24,633,664
in liabilities as of the Chapter 11 filing.


MAQ MANAGEMENT: Wants Plan Exclusivity Extended Until April 10
--------------------------------------------------------------
MAQ Management, Inc., and its affiliated debtors ask the Court to
grant a 120-day extension of their exclusivity period -- to and
including April 10, 2012 -- in which to confirm an amended
consolidated plan of reorganization and disclosure statement.

Super Stop Petroleum I Inc. and Super Stop Petroleum IV Inc. filed
their plans of liquidation on Sept. 13, 2011.

The Debtors filed their consolidated plan of reorganization on
Oct. 13, 2011, but did not file a disclosure statement because
more information was needed to adequately prepare the disclosure
statement.  The Debtors filed notices of withdrawal of the
liquidating plans on Oct. 14.  The Debtors were given until
Nov. 14 to file the disclosure statement.

                       About MAQ Management

Based in Boca Raton, Florida, MAQ Management, Inc., and three
other affiliates serve as commercial landlords to convenience
stores and gas stations in primarily in South Florida.  They filed
for Chapter 11 bankruptcy (Bankr. S.D. Fla. Cases No. 11-26571 to
11-26574) on June 15, 2011.  Affiliates that sought Chapter 11
protection are Super Stop Petroleum, Inc., Super Stop Petroleum I,
Inc., and Super Stop Petroleum IV, Inc.  Judge Erik P. Kimball
presides over the case.  MAQ Management estimated assets and
debts of $1 million to $10 million.  Super Stop estimated assets
and debts of $10 million to $50 million.  The petitions were
signed by Mahammad A. Qureshi, CEO.

Richard J. McIntyre, Esq., and Chirstopher C. Todd, Esq., at
McIntyre, Panzarella, Thanasides, Hoffman, Bringgold & Todd, P.L.,
in Tampa, Florida, serve the Debtors as substitute counsel.

The U.S. Trustee announced that until further notice, it will not
appoint a committee of creditors for the Debtors' cases.
stores and gas stations in primarily in South Florida.

As reported in the TCR on Oct. 21, 2011, MAQ Management, Inc., et
al., filed their Consolidated Chapter 11 Plan of Reorganization,
with the U.S. Bankruptcy Court for the Southern District of
Florida, in compliance with the Court's Order.


MAYSVILLE INC: Can Hire Scott Allan Orth as Counsel
---------------------------------------------------
The Honorable Laurel M. Isicoff has approved, on a final basis,
the application of Maysville, Inc. to employ Scott Alan Orth,
Esq., and the Law Offices of Scott Alan Orth, P.A., as its
counsel.

Scott Alan Orth, Esq., holds no interest adverse to the Debtor or
its estate in the matters upon which they are to be engaged.
Mr. Orth is a disinterested person as the term is defined pursuant
to Section 101(14) of the Bankruptcy Code.

Counsel can be contacted at:

          Scott Alan Orth, Esq.
          Law Offices of Scott Alan Orth, P.A.
          3880 Sheridan Street
          Hollywood, Florida 33021
          Tel: (305) 757-3300
          Fax: (305) 757-0071
          E-mail: scott@orthlawoffice.com

                       About Maysville, Inc.

Maysville, Inc., owns and rents condominium and apartment units in
a property called the Platinum Condominium located at Biscayne
Boulevard and 29th Street in Miami, Florida.

Maysville filed its second voluntary petition under Chapter 11 on
Aug. 11, 2011, with the U.S. Bankruptcy Court for the Southern
District of Florida (Miami) before the Hon. Laurel M. Isicoff.
The bankruptcy case is Maysville, Inc., Case No. 11-32532.

Jeffrey P. Bast, Esq., at Bast Amron LLP, in Miami, Florida --
jbast@bastamron.com -- serves as the Debtor's bankruptcy counsel.
Jeffery J. Pardo, Esq., at Pardo Gainsburg P.L., in Miami,
Florida, is the Debtor's special litigation counsel.

The Debtor disclosed $17,590,927 in assets and $25,076,637 in
liabilities as of the Chapter 11 filing.

Deadline to file a complaint to determine dischargeability of
certain debts is Nov. 14, 2011.  Proofs of Claim are due by
Dec. 12, 2011.


MERCANTILE BANCORP: Incurs $10.2 Million Net Loss in 3rd Quarter
----------------------------------------------------------------
Mercantile Bancorp, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $10.21 million on $8.69 million of total interest and
dividend income for the three months ended Sept. 30, 2011,
compared with a net loss of $25.08 million on $11.35 million of
total interest and dividend income for the same period during the
prior year.

The Company also reported a net loss of $11.25 million on
$27.28 million of total interest and dividend income for the nine
months ended Sept. 30, 2011, compared with a net loss of
$30.68 million on $34.13 million of total interest and dividend
income for the same period a year ago.

The Company's balance sheet at Sept. 30, 2011, showed
$868.26 million in total assets, $885.67 million in total
liabilities, and a $17.41 million total stockholders' deficit.

As reported in the TCR on April 26, 2011, BKD, LLP, in Decatur,
Illinois, expressed substantial doubt about Mercantile Bancorp's
ability to continue as a going concern, following the Company's
2010 results.  The independent auditors noted that the Company has
suffered recurring losses resulting from the effects of the
economic downturn causing its subsidiary banks to be
undercapitalized and resulting in consent orders to be issued by
their primary regulators.

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

                        http://is.gd/KbJqtw

                      About Mercantile Bancorp

Mercantile Bancorp -- http://www.mercbanx.com/-- is a Quincy,
Illinois-based bank holding company with wholly owned subsidiaries
consisting of one bank in Illinois and one each in Kansas and
Florida, where the Company conducts full-service commercial and
consumer banking business, engages in mortgage banking, trust
services and asset management, and provides other financial
services and products.  The Company also operates Mercantile Bank
branch offices in Missouri and Indiana.

On Aug. 10, 2011, the Illinois Division of Banking released a
Consent Order that Mercantile Bank, the Federal Deposit Insurance
Corporation, and the Division entered into as of July 28, 2011.
Under the Order, Mercantile Bank will cease operating with all
money transmitters and currency businesses providing brokerage,
sale or exchange of non-United States currency for deposit
customers.  Furthermore, Mercantile Bank may not enter into a new
line of business without the prior written consent of the FDIC and
the Division.


MERCED FALLS: Pearson Realty Approved as Real Estate Broker
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of California
authorized Merced Falls Ranch, LLC to employ Pearson Realty, Inc.
as real estate broker to sell the Debtor's property.

Merced Falls Ranch LLC filed a Chapter 11 petition (Bankr. E.D.
Calif. Case No. 11-19212) on Aug. 16, 2011, in Fresno, California.
The Debtor disclosed $439,670,200 in assets and $12,465,503 in
liabilities as of the Chapter 11 filing.  Judge W. Richard Lee
presides over the case.  Walter & Wilhelm Law Group serves as the
Debtor's bankruptcy counsel.  Cappello and Noel LLP acts as
special litigation counsel.  Atherton & Associates acts as
accountants.  The petition was signed by Stephen W. Sloan, the
Debtor's member.

The U.S. Trustee said that an official committee has not been
appointed in the bankruptcy case of Merced Falls Ranch LLC because
an insufficient number of persons holding unsecured claims against
the Debtor have expressed interest in serving on a committee.  The
U.S. Trustee reserves the right to appoint such a committee should
interest developed among the creditors


MF GLOBAL: Robbins Geller Files Class Action Suit Against Officers
------------------------------------------------------------------
Robbins Geller Rudman & Dowd LLP disclosed that a class action has
been commenced on behalf of institutional investors in the United
States District Court for the Southern District of New York on
behalf of purchasers of the publicly traded securities of MF
Global Holdings Ltd.  between February 3, 2011 and October 31,
2011, inclusive, including those who purchased MF Global's 1.875%
Convertible Senior Notes due 2016, 3.375% Convertible Senior Notes
due 2018, and 6.25% Senior Notes due 2016, pursuant or traceable
to the Company's false and misleading Registration Statement and
Prospectuses issued in connection with its February 11, 2011
offering of the 1.875% Convertible Senior Notes, August 2, 2011
offering of the 3.375% Convertible Senior Notes, and August 8,
2011 offering of the 6.25% Senior Notes.

The complaint charges certain officers and directors of MF Global
and the underwriters of the Offerings with violations of the
Securities Exchange Act of 1934 and the Securities Act of 1933.
MF Global was a holding company that acted as a broker in markets
for commodities and listed derivatives.

The complaint alleges that during the Class Period, defendants
issued materially false and misleading statements regarding the
Company's business and financial results.  Specifically, MF
Global's exposure to European sovereign debt was not fully
described for investors.  As a result of defendants' false
statements, MF Global's stock traded at artificially inflated
prices during the Class Period, reaching a high of $8.84 per share
on April 1, 2011.  While the extent of MF Global's exposure to
European sovereign debt was concealed, defendants were able to
raise $900 million in the Offerings.

On October 25, 2011, MF Global disclosed information about its
$6.3 billion exposure to European sovereign debt and also issued a
press release announcing disappointing second quarter fiscal 2012
results, including a net loss of $191.6 million, or ($1.16)
diluted earnings for share.  On this news, MF Global stock
declined $1.69 per share to close at $1.86 per share and the MF
Global Notes declined to below 50% of par.  In the following days,
MF Global's credit ratings were also reduced to "junk" status.
Subsequently, on October 28, 2011, the NYSE halted trading in MF
Global stock at $1.20 per share.  Then on October 31, 2011, MF
Global announced that the New York Federal Reserve had suspended
the Company's designation as a primary dealer and that the Company
had filed for Chapter 11 bankruptcy.  The MF Global Notes have
defaulted and MF Global has admitted to federal investigators that
money is missing from its customer accounts.

According to the complaint, the true facts, which were known to
defendants but concealed from the investing public during the
Class Period and were omitted from the Registration Statement,
included that: (a) MF Global had been misstating its capital
ratios by misrepresenting the Company's exposure to European debt
instruments; (b) MF Global's leverage was so extreme that the true
valuation of the European debt instruments would cause the Company
to become insolvent; and (c) MF Global was not properly
segregating client assets, leading to comingled funds.

Plaintiffs seek to recover damages on behalf of all purchasers of
MF Global publicly traded securities during the Class Period,
including those persons or entities who acquired MF Global Notes
pursuant or traceable to the Registration Statement and
Prospectuses issued in connection with the Offerings.  The
plaintiffs are represented by Robbins Geller, which has expertise
in prosecuting investor class actions and extensive experience in
actions involving financial fraud.

Robbins Geller -- http://www.rgrdlaw.com/-- a 180-lawyer firm
with offices in New York, San Diego, San Francisco, Boca Raton,
Washington, D.C., Philadelphia and Atlanta, is active in major
litigations pending in federal and state courts throughout the
United States and has taken a leading role in many important
actions on behalf of defrauded investors, consumers, and
companies, as well as victims of human rights violations.

                         About MF Global

New York-based MF Global (NYSE: MF) -- http://www.mfglobal.com/--
is one of the world's leading brokers of commodities and listed
derivatives.  MF Global provides access to more than 70 exchanges
around the world.  The firm is also one of 22 primary dealers
authorized to trade U.S. government securities with the Federal
Reserve Bank of New York.  MF Global's roots go back nearly 230
years to a sugar brokerage on the banks of the Thames River in
London.

MF Global Holdings Ltd. and MF Global Finance USA Inc. filed
voluntary Chapter 11 petitions (Bankr. S.D.N.Y. Case Nos. 11-15059
and 11-5058) on Oct. 31, 2011, after a planned sale to Interactive
Brokers Group collapsed.  As of Sept. 30, 2011, MF Global had
$41,046,594,000 in total assets and $39,683,915,000 in total
liabilities.  It is easily the largest bankruptcy filing so far
this year.

Judge Honorable Martin Glenn presides over the Chapter 11 case.
J. Gregory Milmoe, Esq., Kenneth S. Ziman, Esq., and J. Eric
Ivester, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP, serve
as bankruptcy counsel.  The Garden City Group, Inc., serves as
claims and noticing agent.  The petition was signed by Bradley I.
Abelow, Executive Vice President and Chief Executive Officer of MF
Global Finance USA Inc.

The Securities Investor Protection Corporation commenced
liquidation proceedings against MF Global Inc. to protect
customers.  James W. Giddens was appointed as trustee pursuant to
the Securities Investor Protection Act.  He is a partner at Hughes
Hubbard & Reed LLP in New York.

Jon Corzine, the former New Jersey governor and co-CEO of
Goldman Sachs Group Inc., stepped down as chairman and chief
executive officer of MF Global just days after the bankruptcy
filing.

U.S. regulators are investigating about $633 million missing from
MF Global customer accounts, a person briefed on the matter said
Nov. 3, according to Bloomberg News.

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


MICHAEL MAZZEO: Owes $10.4-Mil. to Signature Bank
-------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reported that Michael Mazzeo Electric Corp., an electrical
contractor working primarily in Manhattan, listed assets of $5.5
million against $17.5 million in debt, including $10.4 million
owing to secured lender Signature Bank.

Michael Mazzeo filed for Chapter 11 bankruptcy (Bankr. S.D.N.Y.
Case No. 11-14888) on Oct. 21, 2011, to reorganize the business.
Michael Mazzeo was a victim of the decline in construction.  At
its peak, the firm employed more than 200 unionized electricians
and generated $58 million of revenue in 2008.  Currently, there
are 80 electricians on the payroll, and the contract backlog is
$20 million, according to court papers.


MONEYGRAM INT'L: Thomas Lee Discloses 55% Equity Stake
------------------------------------------------------
In an amended Schedule 13D filing with the U.S. Securities and
Exchange Commission, Thomas H. Lee Advisors, LLC, and its
affiliates disclosed that they beneficially own 39,325,150 shares
of common stock of MoneyGram International, Inc., representing 55%
of the shares outstanding.  A full-text copy of the amended
Schedule 13D is available for free at http://is.gd/Y2FqUV

                   About MoneyGram International

MoneyGram International, Inc. (NYSE: MGI) --
http://www.moneygram.com/-- is a global payment services company.
The Company's major products and services include global money
transfers, money orders and payment processing solutions for
financial institutions and retail customers.  MoneyGram is a New
York Stock Exchange-listed company with 203,000 global money
transfer agent locations in 191 countries and territories.

The Company's balance sheet at Sept. 30, 2011, showed $5 billion
in total assets, $5.10 billion in total liabilities and a $108.16
million total stockholders' deficit.

                           *     *     *

As reported by the TCR on Nov. 15, 2011, Fitch Ratings has
affirmed and simultaneously withdrawn the 'B+' Issuer Default
Rating (IDR) of MoneyGram International Inc.  Fitch has withdrawn
the rating for business reasons.  The ratings is no longer
relevant to the agency's coverage.


MONEYGRAM INT'L: Silver Point Discloses 1.6% Equity Stake
---------------------------------------------------------
Silver Point Capital, L.P., and its affiliates filed with the U.S.
Securities and Exchange Commission an amended Schedule 13D
disclosing that they beneficially own 794,447 shares of common
stock of MoneyGram International, Inc., representing 1.6% of the
shares outstanding.  This percentage is calculated based upon
49,841,017 outstanding shares of Common Stock as of Nov. 10, 2011.
A full-text copy of the amended Schedule 13D is available for free
at http://is.gd/6mIp0x

                    About MoneyGram International

MoneyGram International, Inc. (NYSE: MGI) --
http://www.moneygram.com/-- is a global payment services company.
The Company's major products and services include global money
transfers, money orders and payment processing solutions for
financial institutions and retail customers.  MoneyGram is a New
York Stock Exchange-listed company with 203,000 global money
transfer agent locations in 191 countries and territories.

The Company's balance sheet at Sept. 30, 2011, showed $5 billion
in total assets, $5.10 billion in total liabilities and a $108.16
million total stockholders' deficit.

                           *     *     *

As reported by the TCR on Nov. 15, 2011, Fitch Ratings has
affirmed and simultaneously withdrawn the 'B+' Issuer Default
Rating (IDR) of MoneyGram International Inc.  Fitch has withdrawn
the rating for business reasons.  The ratings is no longer
relevant to the agency's coverage.


MONEYGRAM INT'L: Inks Fifth Supplemental Indenture with Worldwide
-----------------------------------------------------------------
MoneyGram Payment Systems Worldwide, Inc., entered into the Fifth
Supplemental Indenture with MoneyGram International, Inc., the
other guarantors party thereto and Deutsche Bank Trust Company
Americas, as trustee and collateral agent, which supplements the
Indenture, dated as of March 25, 2008, by and among Worldwide, the
Company, the other guarantors party thereto and the Trustee,
governing Worldwide's 13.25% Senior Secured Second Lien Notes due
2018.

The Fifth Supplemental Indenture amends the definition of
"Qualified Equity Offering" in the Indenture to refer to a primary
or secondary public offering of equity of the Company or its
direct or indirect parent in which Goldman, Sachs & Co., or any of
its affiliates participates as a selling stockholder and any
subsequent primary or secondary public offerings, in each case for
aggregate cash proceeds of at least $50.0 million.  The Fifth
Supplemental Indenture also amends the Indenture to permit
Worldwide to make one or more optional redemptions of up to an
aggregate of 35% of the aggregate principal amount of the
originally issued Second Lien Notes, at a redemption price equal
to 113.25% of the then outstanding principal amount thereof, plus
accrued and unpaid interest thereon, at any time prior to
March 25, 2012, and after a Qualified Equity Offering; provided
that any such redemption must be in an aggregate principal amount
of no less than $50.0 million and may not exceed the aggregate
cash proceeds (net of underwriting discounts and commissions)
received in all Qualified Equity Offerings by the Company or any
participating selling stockholders.  The Fifth Supplemental
Indenture also amends the Indenture to, among other things:

   (i) allow the Company and its subsidiaries increased
       flexibility in intercompany transactions, including
       intercompany loans, asset transfers and investments;

  (ii) increase the size of the general basket for investments
       from $25.0 million to $50.0 million;

(iii) increase the aggregate amount of indebtedness defaults or
       final judgments that will constitute an Event of Default
       under the Indenture from $15.0 million to $25.0 million;
       and

  (iv) expand the definition of Highly Rated Investments in the
       Indenture to provide increased flexibility with respect to
       permitted investments.

On Nov. 14, 2011, Worldwide, as borrower, the Company, MoneyGram
Payment Systems, Inc., and MoneyGram of New York LLC, entered into
a First Incremental Amendment and Joinder Agreement with Bank of
America, N.A., as administrative agent, and the financial
institutions party thereto as lenders.  The Incremental Amendment
provides for an incremental term loan facility to be made
available to Worldwide under that certain Credit Agreement dated
as of May 18, 2011, among Worldwide, the Company, the
Administrative Agent and the lenders party thereto.  The
Incremental Amendment includes commitments from the Tranche B-1
Lenders signatory thereto to make term loans in an aggregate
amount of $140 million and includes a mechanism for the aggregate
principal amount of the Tranche B-1 Term Loan Facility to be
increased to $150 million if Worldwide obtains additional
commitments from existing or other lenders.  The funding of each
Tranche B-1 Lender's commitment is subject to the satisfaction of
certain conditions precedent set forth in the Incremental
Amendment.  The proceeds of the Tranche B-1 Term Loan Facility
will be used to partially redeem Worldwide's existing Second Lien
Notes in the manner contemplated by the Fifth Supplemental
Indenture and to pay any fees, expenses and premiums payable in
connection with such redemption.

The loans under the Tranche B-1 Term Loan Facility will bear
interest, at Worldwide's election, at either the base rate or
LIBOR, in each case plus a spread above the base rate or LIBOR
rate, as applicable.  The spread for base rate loans will be
either 2.00% or 2.25% per annum and the spread for LIBOR loans
will be either 3.00% or 3.25% per annum.  The LIBOR rate for the
Tranche B-1 Term Loan Facility will at all times be deemed to be
not less than 1.25%.  These pricing terms are identical to the
pricing in place for Worldwide's existing term loans under the
Credit Agreement.  The Tranche B-1 Term Loan Facility will also
have the same maturity date as Worldwide's existing term loans
under the Credit Agreement, which is Nov. 18, 2017.

The Tranche B-1 Term Loan Facility will be deemed to have been
made under the Credit Agreement such that all representations,
warranties and covenants contained in the Credit Agreement and the
related security documents will apply to the Tranche B-1 Term Loan
Facility in all respects and the collateral pledged by the
Company, Worldwide and certain of its subsidiaries to secure their
respective obligations under the Credit Agreement will secure the
Tranche B-1 Term Loan Facility on a pari passu basis.

On Nov. 15, 2011, the Company entered into a consent agreement
with certain affiliates and co-investors of Thomas H. Lee
Partners, L.P., and affiliates of Goldman, Sachs & Co., who are
parties to the Amended and Restated Purchase Agreement, dated as
of March 17, 2008.  Pursuant to the Equity Consent Agreement, and
as required by the Equity Purchase Agreement, the Investors have
consented to the changes to the definition of Highly Rated
Investments contained in the Fifth Supplemental Indenture and to
any resulting changes in the Company's investment policy relating
to the investment portfolio of the Company and its subsidiaries.

A full-text copy of the Firth Supplemental Indenture is available
for free at http://is.gd/SGavbj

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

A full-text copy of the Consent Agreement is available at no
charge at http://is.gd/AeeEkR

                    About MoneyGram International

MoneyGram International, Inc. (NYSE: MGI) --
http://www.moneygram.com/-- is a global payment services company.
The Company's major products and services include global money
transfers, money orders and payment processing solutions for
financial institutions and retail customers.  MoneyGram is a New
York Stock Exchange-listed company with 203,000 global money
transfer agent locations in 191 countries and territories.

The Company's balance sheet at Sept. 30, 2011, showed $5 billion
in total assets, $5.10 billion in total liabilities and a $108.16
million total stockholders' deficit.

                           *     *     *

As reported by the TCR on Nov. 15, 2011, Fitch Ratings has
affirmed and simultaneously withdrawn the 'B+' Issuer Default
Rating (IDR) of MoneyGram International Inc.  Fitch has withdrawn
the rating for business reasons.  The ratings is no longer
relevant to the agency's coverage.


MONEYGRAM INT'L: Goldman Sachs Discloses 30.3% Equity Stake
-----------------------------------------------------------
In an amended Schedule 13D filing with the U.S. Securities and
Exchange Commission, The Goldman Sachs Group, Inc., and its
affiliates disclosed that they beneficially own 21,650,904 shares
of common stock of MoneyGram International, Inc., representing
30.3% of the shares outstanding.  The calculation of percentage
ownership is based upon a total of 71,489,709  shares of Common
Stock outstanding, which is the sum of (a) 49,841,017 shares of
Common Stock outstanding as of Nov. 10, 2011, as set forth in the
Preliminary Prospectus Supplement, filed Nov. 14, 2011, plus (b)
21,648,692 shares of Common Stock issuable upon the conversion by
a holder other than the Reporting Persons or their affiliates,
subject to certain limitations, of the 173,189.5678 shares of
Series D Participating Convertible Preferred Stock of the Issuer
issued to the Reporting Persons pursuant to the Recapitalization
Agreement.  The shares of Common Stock reflects a one-for-eight
reverse stock split of the Company's issued and outstanding Common
Stock, which was effected by the Company on Nov. 14, 2011.  The
shares of Series D participating Convertible Preferred Stock held
by the Reporting Persons do not vote as a class with the Common
Stock.  A full-text copy of the amended Schedule 13D is available
for free at http://is.gd/nAJEfB

                   About MoneyGram International

MoneyGram International, Inc. (NYSE: MGI) --
http://www.moneygram.com/-- is a global payment services company.
The Company's major products and services include global money
transfers, money orders and payment processing solutions for
financial institutions and retail customers.  MoneyGram is a New
York Stock Exchange-listed company with 203,000 global money
transfer agent locations in 191 countries and territories.

The Company's balance sheet at Sept. 30, 2011, showed $5 billion
in total assets, $5.10 billion in total liabilities and a $108.16
million total stockholders' deficit.

                           *     *     *

As reported by the TCR on Nov. 15, 2011, Fitch Ratings has
affirmed and simultaneously withdrawn the 'B+' Issuer Default
Rating (IDR) of MoneyGram International Inc.  Fitch has withdrawn
the rating for business reasons.  The ratings is no longer
relevant to the agency's coverage.


MONTANA ELECTRIC: Co-op Board Open to Chapter 7 Liquidation
-----------------------------------------------------------
Richard Ecke at greatfallstribune.com reports that the Southern
Montana Electric Generation & Transmission Cooperative's
bankruptcy filing has the co-op's full board approved.  However,
the board dropped a reference to Chapter 11 in its latest
resolution, suggesting that it was open to the possibility the co-
op could be liquidated under Chapter 7 of the federal bankruptcy
code.

The report says that U.S. Bankruptcy Court Judge Ralph B. Kirscher
eventually will decide whether the six-member co-op will
reorganize or be dissolved.  Creditors will have much say over
which route the case will take.

The report relates that SME's board of directors held a pair of
telephone conference calls on Nov. 18 to discuss issues before
Judge Kirscher at a Nov. 21 hearing.  City Attorney James Santoro
said the issues include:

  -- Whether a trustee should be appointed to run SME, a move now
     supported by its board.

  -- Whether utilities providing service to SME, including PPL and
     the Western Area Power Administration, should be required to
     continue to serve the rural co-op, despite the bankruptcy.

  -- Whether cash collateral should be posted to satisfy
     Prudential, the lender for the $85 million Highwood
     Generating Station east of Great Falls.  Prudential is the
     largest secured creditor in the bankruptcy, at $75 million.

According to the report, Mr. Santoro said the court will consider
an initial 30-day term for the collateral agreement "to keep the
lights on."

"Without the use of the cash collateral, the debtor will not have
sufficient liquidity to be able to continue to operate its
business," the report quotes temporary SME attorney Malcolm H.
Goodrich of Billings as saying.  Mr. Goodrich asked Judge Kirscher
for an emergency interim order to dip into the cash collateral.

The report adds that both WAPA and PPL EnergyPlus objected to an
interim order prohibiting them from halting or changing service to
SME.  Victoria L. Francis, assistant U.S. attorney, said WAPA
provides very low-cost power to SME.  She said SME's assurances of
payment were inadequate.

The report says PPL also objected for a variety of reasons,
including that it should not be considered a utility; that SME is
in breach of its contract; and that PPL stands to lose about
$1 million per month as a result of that breach.

greatfallstribune.com also reports that a long-hidden power
contract between PPL EnergyPlus and SME was released in bankruptcy
court documents filed by the PPL arm last week.  According to the
report, in a contract set to end June 30, 2019, SME agreed to buy
245 megawatt-hours of electricity in peak periods and 162 mwh in
off-peak times in the last two years of the contract.  SME's
actual total needs earlier this year were about 150 mwh, state
Public Service Commission Chairman Travis Kavulla estimated
Thursday, a figure that dropped in recent months as customers left
the rural co-op.

The report says facing unfavorable terms of the contract and
flagging demand, SME's fall came quickly.  Its debts increased
from $7.2 million at the end of June to an estimated $9.6 million
by the end of July.

                       About Southern Montana

Based in Billings, Montana, Southern Montana Electric Generation
And Transmission Cooperative, Inc., was formed to serve five
other electric cooperatives.  The city of Great Falls later joined
as the sixth member.  Including the city, the co-op serves a
population of 122,000.  In addition to Great Falls, the service
area includes suburbs of Billings, Montana.

Southern Montana filed for Chapter 11 bankruptcy (Bankr. D.
Mont. Case No. 11-62031) on Oct. 21, 2011.  Southern Montana
estimated assets of $100 million to $500 million and estimated
debts of $100 million to $500 million.  Timothy Gregori signed the
petition as general manager.  Jon E. Doak, Esq., at Doak &
Associates, P.C., in Billings, Montana, serves as the Debtor's
counsel.

Standard & Poor's Ratings Services in October lowered its issuer
credit rating on SME to 'CC' from 'BBB', and placed the rating on
CreditWatch with developing implications.  These actions follow
the cooperative's Oct. 21 bankruptcy filing under Chapter 11 of
the U.S. Bankruptcy Code.  According to SME, the filing was in
response to failure on the part of some of its members to honor
contractual obligations, including payment to the cooperative for
services.


MONTANA ELECTRIC: Members Vote to Roll Back 20% Rate Hike
----------------------------------------------------------
Richard Ecke at greatfallstribune.com reports that members of
Southern Montana Electric Generation & Transmission Cooperative
Inc. have voted to roll back a 20% rate hike and generally
endorsed a filing of bankruptcy during a special meeting on
Nov. 17, 2011 in Billings, Montana.

"There will be no rate increase of 20 percent," the report quotes
Great Falls City Commissioner Bob Jones as saying.  The rate hike
by Southern Montana Electric Generation & Transmission
Cooperative, of which the city is a member, would have been
retroactive to Sept. 1.

The report says representatives of the six-member co-op, including
the city of Great Falls, showed rare unanimity on Nov. 17, 2011,
in voting 6-0 for a series of resolutions, including the rate hike
reversal.

According to the report, half of the SME board voted for a 20%
rate hike on Oct. 21, 2011, after the three other board members
walked out of the meeting in protest of the board not seating a
new member who was nominated by her respective member co-op.
Later, the three members also voted to file for Chapter 11
bankruptcy protection with the federal bankruptcy court in Butte.

                       About Southern Montana

Based in Billings, Montana, Southern Montana Electric Generation
And Transmission Cooperative, Inc., was formed to serve five
other electric cooperatives.  The city of Great Falls later joined
as the sixth member.  Including the city, the co-op serves a
population of 122,000.  In addition to Great Falls, the service
area includes suburbs of Billings, Montana.

Southern Montana filed for Chapter 11 bankruptcy (Bankr. D.
Mont. Case No. 11-62031) on Oct. 21, 2011.  Southern Montana
estimated assets of $100 million to $500 million and estimated
debts of $100 million to $500 million.  Timothy Gregori signed the
petition as general manager.

Jon E. Doak, Esq., at Doak & Associates, P.C., in Billings,
Montana, serves as the Debtor's counsel.

Standard & Poor's Ratings Services in October lowered its issuer
credit rating on SME to 'CC' from 'BBB', and placed the rating on
CreditWatch with developing implications.  These actions follow
the cooperative's Oct. 21 bankruptcy filing under Chapter 11 of
the U.S. Bankruptcy Code.  According to SME, the filing was in
response to failure on the part of some of its members to honor
contractual obligations, including payment to the cooperative for
services.


MRS. FIELDS: Is Near Deal to Refinance With Creditors
-----------------------------------------------------
Carla Main, substituting for Bloomberg News bankruptcy columnist
Bill Rochelle, reports that Mrs. Fields Famous Brands LLC plans to
cede control to creditors including Carlyle Group LP and Z Capital
Partners LLC as the cookie chain refinances debt to return to
profitability.  The company, which also owns frozen-yogurt maker
TCBY, started the refinancing process Oct. 21 and expects it to
conclude Dec. 5, according to a statement Nov. 18.  Mrs. Fields
hired Houlihan Lokey to advise on a proposed exchange of debt for
equity, said four people with knowledge of the plan.

Mrs. Fields, based in Salt Lake City, may file for a prepackaged
bankruptcy if the swap isn't approved by next month, said the
people, who declined to be named as terms are private.

Private-equity firms Carlyle and Z Capital hold the majority of
the treat vendor's about $65 million in senior secured notes, they
said.  The lenders support the refinancing and will become the
largest shareholders, Mrs. Fields said.

Mrs. Fields emerged from bankruptcy three years ago and has more
than 950 stores under its brand and the TCBY frozen-yogurt banner.

                         About Mrs. Fields'

Headquartered in Salt Lake City, Utah, Mrs. Fields' Original
Cookies, Inc. -- http://www.mrsfields.com/-- operates a chain of
cookie and baked goods.  The company and 13 of its affiliates
filed for Chapter 11 protection (Bankr. D. Del. Lead Case No.
08-11953) on Aug. 24, 2008.  David R. Hurst, Esq., at Montgomery
McCracken Walker & Rhoads LLP, represented the Debtors in their
restructuring efforts.  The Debtors selected Epiq Bankruptcy
Services LLC as their claims agent.  Mrs. Fields' consolidated
balance sheet at March 29, 2008, showed $147.2 million in total
assets and $247.2 million in total liabilities, resulting in a
$100.0 million member's deficit.  Mrs. Fields emerged from its
two-month-long Chapter 11 restructuring in October 2008.

As of March 29, 2008, the company's franchise systems operated
through a network of 1,278 retail concept locations throughout the
United States and in 21 foreign countries.  Now, Mrs. Fields has
280 stores in the U.S.


NEBRASKA BOOK: Posts $91.7-Mil. Net Loss in Sept. 30 Quarter
------------------------------------------------------------
NBC Acquisition Corp. filed its quarterly report on Form 10-Q,
reporting a net loss of $91.7 million on $236.2 million of
revenues for the quarter ended Sept. 30, 2011, compared with net
income of $16.5 million on $272.8 million of revenues for the
quarter ended Sept. 30, 2010.

Consolidated revenues for the quarter ended Sept. 30, 2011,
decreased $36.6 million, or 13.4%, from the quarter ended
Sept. 30, 2010.

The decrease was primarily due to a decrease in revenues in the
Bookstore Division primarily due to a decrease in same-store
sales, which excludes $14.6 million of deferred rental textbook
revenue (which will be recognized during the following quarter),
and to closed stores, which was partially offset by additional
revenue from new bookstores.

Gross profit for the quarter ended Sept. 30, 2011, decreased
$12.1 million, or 11.8%, to $90.6 million from $102.7 million for
the quarter ended Sept. 30, 2010.

As a result of underperformance of the Company's Bookstore
Division, the Company revised its financial projections of future
periods.  These revisions indicated a potential impairment of
goodwill and, as required, the estimated fair value of the
Company's reporting units was assessed to determine if their book
value exceeded their estimated fair value at Sept. 30, 2011.

As a result of this assessment, the Company recognized a
$121.8 million goodwill impairment charge.

Costs directly attributable to the Chapter 11 proceedings were
$8.7 million for the quarter ended Sept. 30, 2011, and primarily
are advisor fees related to the bankruptcy proceedings.

For the six months ended Sept. 30, 2011, the Company reported a
net loss of $115.4 million on $305.8 million of revenues, compared
with net income of $3.8 million on $345.2 million of revenues for
the same period of 2010.

The Company's balance sheet at Sept. 30, 2011, showed
$547.1 million in total assets, $701.9 million in total
liabilities, $14.1 million in Series A redeemable preferred stock,
and a stockholders' deficit of $168.8 million.

As of Sept. 30, 2011, the Company had $120.2 million in cash
available to help fund working capital requirements.  Cash and
cash equivalents were $56.4 million at March 31, 2011.

                      Plan of Reorganization

On July 17, 2011, the Company filed a joint plan of reorganization
and related disclosure statement with the Court.  On Aug. 22,
2011, the Company filed with the Court a first amended disclosure
statement, which contained a first amended proposed plan of
reorganization (the "Amended Plan").

The Amended Plan calls for the issuance of (i) new senior secured
notes, (ii) new senior unsecured notes, (iii) new common equity
interests in an amount equal to 78% of the Company to the holders
of the Pre-Petition Senior Subordinated Notes, and (iv) new common
equity interests in an amount equal to 22% of the Company to the
holders of the Pre-Petition Senior Discount Notes.

The Amended Plan allows for the issuance of pro rata share of new
warrants to holders of the Company's existing equity securities to
purchase up to three percent or five percent of new common equity
interests in the Company exercisable at certain strike prices as
outlined in the Amended Plan.

The Company continues to have ongoing discussions and negotiations
with the noteholders supporting the Amended Plan and other
stakeholders.  In addition, the Company is continuing to address
objections received to the Amended Plan.  Discussions with these
parties will likely continue until a plan of reorganization is
approved by the Bankruptcy Court.  Those discussions and
negotiations may lead to substantial revisions and amendments to
the terms of the Amended Plan and resubmission of the plan to the
Bankruptcy Court.  The ultimate recovery to creditors and/or the
Company's shareholders, if any, will not be determined until
confirmation of a plan of reorganization.

A hearing to consider the Amended Plan is currently scheduled for
Nov. 30, 2011.

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

A full-text copy of the Chapter 11 Plan is available for free
at http://bankrupt.com/misc/NEBRASKA_PLAN.pdf

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

                       http://is.gd/FAr9zF

                       About Nebraska Book

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.  However, Nebraska Book has been unable to secure a $250
million loan required for confirming and implementing the plan.
The plan called for new financing to pay off first- and second-
lien debt in full, while giving most of the new equity to
subordinated noteholders of the operating company and holders of
notes issued by the holding company.


NEUROLOGIX INC: Delays Filing of Form 10-Q for Sept. 30 Qtr.
------------------------------------------------------------
Neurologix, Inc., was unable to file its Quarterly Report on Form
10-Q for the quarter ended Sept. 30, 2011, by Nov. 14, 2011.  As
disclosed in its Current Report on Form 8-K filed with the
Securities and Exchange Commission on Oct. 31, 2011, the Company
will need to obtain additional funds to be able to continue its
operations, and may not be in a position to continue beyond the
end of November 2011 without those funds.  The Company's
management has had to devote substantially all of its efforts to
raising additional capital and the Company did not have adequate
time to complete the preparation of its financial statements for
the quarter ended Sept. 30, 2011, by the Filing Deadline without
unreasonable effort or expense.  If the Company's capital raising
efforts are successful, the Company will file the 10-Q as soon as
practicable.

                       About Neurologix, Inc.

Fort Lee, N.J.-based Neurologix, Inc. (OTC Bulletin Board: NRGX)
-- http://www.neurologix.net/-- is a clinical-stage biotechnology
company dedicated to the discovery, development, and
commercialization of gene transfer therapies for serious disorders
of the brain and the central nervous system.  The Company's
current programs address such conditions as Parkinson's disease,
epilepsy, depression and Huntington's disease, all of which are
large markets not adequately served by current therapeutic
options.

The Company reported a net loss of $10.16 million on $0 of revenue
for the year ended Dec. 31, 2010, compared with a net loss of
$13.46 million on $0 of revenue during the prior year.

The Company's balance sheet at June 30, 2011, showed $4.96 million
in total assets, $13.62 million in total liabilities, and a
$8.66 million total stockholders' deficit.

BDO USA, LLP, in New York, raised substantial doubt about the
Company's ability to continue as a going concern.  BDO noted that
the Company has suffered recurring losses from operations, expects
to incur future losses for the foreseeable future and has
deficiencies in working capital and capital.


NEWPAGE CORP: Committee Taps Moelis & Company as Investment Banker
------------------------------------------------------------------
The Official Committee of Unsecured Creditors of NewPage
Corporation, et al., asks the U.S. Bankruptcy Court for the
District of Delaware for authorization to retain Moelis & Company
as the Committee's investment banker, effective as of Sept. 23,
2011.

Moelis & Company will:

  -- assist the Committee in conducting a customary business and
     financial analysis of the Debtors;

  -- assist the Committee in evaluating the Debtors' debt capacity
     and in the determination of an appropriate capital structure
     for the Debtors;

  -- assist the Committee in reviewing and analyzing proposals for
     any Restructuring, and, to the extent requested, assist the
     Committee in soliciting and developing alternative proposals
     for a Restructuring;

  -- advise and assist the Committee, and if the Committee
     requests, participate, in negotiations of any Restructuring;

  -- assist the Committee in valuing the Debtors' business;

  -- be available to meet with the Committee, the Debtors?
     management, the Debtors' board of directors and other
     creditor groups, equity holders or other parties in interest
     (in each case who are institutional parties or
     represented by an advisor) to discuss any Restructuring;

  -- participate in hearings before the Bankruptcy Court and
     provide testimony on matters regarding valuation and/or debt
     capacity and other matters mutually agreed upon in good
     faith; and

  -- provide other investment banking services in connection with
     a Restructuring as Moelis and the Committee may agree.

Contemporaneously with the filing of this application, the
Committee also has filed an application for authority to retain
Alvarez & Marsal North America, LLC as its financial advisor in
these Chapter 11 cases.  The investment banking services that
Moelis is to provide to the Committee are separate and distinct
from the restructuring and financial advisory services that A&M
will be providing to the Committee.

The Engagement Letter provides for the following compensation to
be paid by the Debtors to Moelis:

  -- Monthly Fee. A non-refundable cash fee of $125,000 per month,
     which is payable in advance on the first day of each month
     beginning on Sept. 23, 2011, until the expiration or
     termination of the Engagement Letter.

  -- Restructuring Fee. A non-refundable cash fee of $2 million,
     which is payable upon consummation of a Restructuring.  The
     Restructuring Fee will be offset by one-half of the aggregate
     Monthly Fees actually paid in cash, commencing with the fifth
     full Monthly Fee.

The Engagement Letter includes a customary "tail" provision that
provides that if, at any time during the 12 months following the
expiration or termination of the Engagement Letter, either (a) a
Restructuring is consummated or (b) the Debtors or any entity
formed or invested in to consummate a Restructuring enters into an
agreement for a Restructuring or a plan of reorganization is filed
and a Restructuring is subsequently consummated at any time, then
the Debtors and their bankruptcy estates would be obligated to pay
Moelis the Restructuring Fee in full, and in cash, immediately
upon the consummation of the Restructuring.

Moelis has informed the Committee that it does not represent in
connection with the Debtors' Chapter 11 cases any other entity
having an adverse interest to the Committee or the Debtors, and
therefore believes it is eligible to represent the Committee under
Section 1103(b) of the Bankruptcy Code.

                    About NewPage Corporation

Headquartered in Miamisburg, Ohio, NewPage Corporation is the
leading producer of printing and specialty papers in North
America, based on production capacity, with $3.6 billion in net
sales for the year ended December 31, 2010.  The company's product
portfolio is the broadest in North America and includes coated
freesheet, coated groundwood, supercalendered, newsprint and
specialty papers.  These papers are used for corporate collateral,
commercial printing, magazines, catalogs, books, coupons, inserts,
newspapers, packaging applications and direct mail advertising.

NewPage owns paper mills in Kentucky, Maine, Maryland, Michigan,
Minnesota, Wisconsin and Nova Scotia, Canada.  These mills have a
total annual production capacity of approximately 4.1 million tons
of paper, including approximately 2.9 million tons of coated
paper, approximately 1.0 million tons of uncoated paper and
approximately 200,000 tons of specialty paper.

NewPage Corporation, along with affiliates, filed Chapter 11
bankruptcy protection (Bankr. D. Del. Lead Case No. 11-12804) on
Sept. 7, 2011.  Martin J. Bienenstock, Esq., Judy G.Z. Liu, Esq.,
and Philip M. Abelson, Esq., Dewey & Leboeuf LLP, in New York,
serve as counsel.  Laura Davis Jones, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, serves as co-counsel.
Lazard Freres & Co. LLC is the investment banker, and FTI
Consulting Inc. is the financial advisor.  Kurtzman Carson
Consultants LLC is the claims and notice agent.  In its balance
sheet, the Debtors disclosed $3.4 billion in assets and $4.2
billion in total liabilities as of June 30, 2011.

At an organizational meeting of creditors held on Sept. 21, 2011,
the Committee selected Paul Hastings LLP as its bankruptcy
counsel.  On Sept. 21, 2011, the Committee also selected Young
Conaway Stargatt & Taylor, LLP to act as its Delaware and
conflicts counsel.

NewPage Corp. prevailed over most objections from the official
creditors' committee and won agreement from the bankruptcy judge
on final approval of $600 million in secured financing.

Moody's Investors Service assigned a Ba2 rating to the
$350 million first-out revolving debtor-in-possession credit
facility and a B2 rating to the $250 million second-out debtor-in-
possession term loan for NewPage.


NO FEAR: Court OKs RSM McGladrey as Accountant
----------------------------------------------
No Fear Retail Stores, Inc., Simo Holdings, Inc., and No Fear MX,
Inc. sought and obtained permission from the U.S. Bankruptcy Court
for the Southern District of California to employ the accounting
firm RSM McGladrey, Inc., to act as their accountant, effective as
of Feb. 24, 2011, for the purposes of preparing consolidated tax
returns and providing other accounting services as necessary.

At the present time, the Debtors need accountants to prepare their
federal income tax return (IRS Form 1120) and state income tax
return (FTB Form 100) for fiscal year ended Aug. 31, 2010.

RSM has prepared the federal and state tax returns for the Debtors
since 2004.  The Debtors now wish to employ RSM to prepare their
consolidated tax returns for the fiscal year ended August 31,
2010.

RSM will be paid a flat fee of $25,000 for the preparation of the
consolidated federal and state 2010 tax returns for the Debtors,
plus expenses relating to the services provided at the Firm's
normal rates.  This is the same fee RSM charged the Debtors
prepetition to prepare their 2009 tax returns.

Matthew L. Bradvica, a managing director at RSM, assures the Court
that neither his Firm, nor any of the professionals comprising or
employed by it, represent or hold an interest adverse to the
interest of the estate with respect to the matter on which it is
to be employed, and RSM is a "disinterested person" as that term
is defined in the Bankruptcy Code.

Mr. Bradvica further disclosed that RSM prepares the taxes for FMF
International, a creditor for the Debtors, and has prepared the
individual tax return of Mark Simo for the last three years
including 2010.

                      About No Fear Retail

Carlsbad, California-based No Fear Retail Stores, Inc., is a
retailer of action, sports, and casual youth lifestyle apparel and
accessories, targeting young adults and teens.  It operates 41
retail locations in California, Oregon, Arizona, Florida, Nevada,
North Carolina, and Texas.

No Fear filed for Chapter 11 bankruptcy protection (Bankr. S.D.
Calif. Case No. 11-02896) on Feb. 24, 2011.  David S. Kupetz,
Esq., at Sulmeyer, Kupetz, A Professional Corp, serves as the
Debtor's bankruptcy counsel.  The Debtor tapped Jones Day as
special intellectual property counsel; Avant Advisory Group's
George Blanco as chief restructuring officer, and Venturi &
Company LLC, as financial advisors.

The Debtor estimated disclosed $31,648,063 in assets and
$12,552,985 in liabilities as of the Chapter 11 filing.

Affiliates No Fear MX, Inc. (Bankr. S.D. Calif. Case No. 11-02897)
and Simo Holdings, Inc. (Bankr. S.D. Calif. Case No. 11-02898)
filed separate Chapter 11 petitions on Feb. 24, 2011.

Tiffany L. Carroll, the Acting U.S. Trustee for Region 15,
appointed three creditors to serve on an Official Committee of
Unsecured Creditors of No Fear MX, Inc.  Pachulski Stang
Ziehl & Jones LLP represents the Committee.  BDO USA LLP serves as
financial advisor to provide financial advisory services to the
Committee.

Gibson Dunn & Crutcher LLP is the counsel for the Debtors'
creditors panel.  Lapidus & Lapidus acts as special litigation
Counsel for the Debtors.


NORTHWEST PARTNERS: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Northwest Partners, a Nevada Limited Partnership
        dba Austin Crest Apts
        380 Linden Street
        Reno, NV 89502

Bankruptcy Case No.: 11-53528

Chapter 11 Petition Date: November 17, 2011

Court: United States Bankruptcy Court
       District of Nevada (Reno)

Debtor's Counsel: Alan R. Smith, Esq.
                  THE LAW OFFICES OF ALAN R. SMITH
                  505 Ridge St.
                  Reno, NV 89501
                  Tel: (775) 786-4579
                  E-mail: mail@asmithlaw.com

Scheduled Assets: $13,513,361

Scheduled Debts: $14,135,158

The petition was signed by Robert F. Nielsen, president, IDN I, a
NV Corp., general partner.

Debtor's List of 20 Largest Unsecured Creditors:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Nevada Housing Division   26 Unit Apartment      $13,100,000
1535 Old Hot Springs      Property
Road, Suite 50
Carson City, NV 89706

Washoe County Home        268 Unit Apartment     $750,000
Consortium                Property
P.O. Box 1900
Reno, NV 89505

Shelter Properties,       Partnership Loans      $109,500
Inc.
380 Linden Street
Reno, NV89502

Community Services        Partnership Loans      $109,500
Development Corp.
P.O. Box 10167
Reno, NV

City of Reno              Goods/Services         $21,018

Truckee Meadows           Goods/Services         $7,496
Water Authority

Manage Inc.               Goods/Services         $6,339

Carpets of America        Goods/Services         $4,392

NV Energy                 Goods/Services         $3,834

HD Supply Facilities      Goods/Services         $3,686
Maintenance

Waste Mgmt-Reno           Goods/Services         $3,438
Disposal

Cruz Painting             Goods/Services         $2,970

Signature Landscapes,     Goods/Services         $2,477
LLC

Suzie Q's Stain Busters   Goods/Services         $1,535

Reno Apartment Guide      Goods/Services         $1,432

AE Janitorial             Goods/Services         $1,125
Solutions, Inc.

Masco Paint               Goods/Services         $853
Manufacturing, Inc.

M & S Air Cond and        Goods/Services         $727
Heating

RK Property Services      Goods/Services         $695

ESI Security Services     Goods/Services         $608


OPEN RANGE: FTI Consulting OK'd to Provide Restructuring Officers
-----------------------------------------------------------------
The Hon Kevin J. Carey of the U.S. Bankruptcy Court for the
District of Delaware authorized Open Range Communications Inc., to
employ FTI Consulting, Inc. to provide chief restructuring
officer, an associate chief restructuring officer and hourly
temporary staff.

As reported in the Troubled Company Reporter on Oct. 31, 2011, FTI
Consulting, Inc., is providing a chief restructuring officer,
Michael E. Katzenstein; an associate chief restructuring officer,
Chris Lewand; and hourly temporary staff.  The services to be
rendered by the CRO and the Associate CRO will include the
provision of crisis and turnaround management services to the
Debtor, together with other duties as the Debtor's board of
directors, or any authorized committee of the board, may from time
to time determine.

The Debtor will pay FTI Consulting a monthly, non-refundable
advisory fee of $190,000 per month for the services of Messrs.
Katzenstein and LeWand, $675 per hour for Carl Jenkins, and $410
per hour for Daniel Gallagher.  The Debtor will also reimburse FTI
Consulting for its reasonable and customary out-of-pocket
expenses.

If during the term of the Engagement Letter or during three months
following the termination of the Engagement Letter, the Debtor
completes a restructuring or sale, FTI Consulting will earn a
Completion Fee of $400,000, payable in cash on the later of the
effective date of the Restructuring or on closing of the sale, as
the case may be.

In addition, the Engagement Letter provides for an evergreen
retainer to be paid to FTI Consulting in the amount of $600,000,
to be held as continuing security for the payment of fees and
expenses to FTI Consulting and applied to any unpaid amounts due
to FTI Consulting at the completion of the engagement, with the
unused portion to be returned to the Debtor upon payment in full
of all fees and expenses.

The Debtor will indemnify and hold harmless FTI Consulting and its
shareholders, directors, officers, managers, employees,
contractors, agents and controlling persons against from and
against any losses, claims, damages or expenses.

                        About Open Range

Greenwood Village, Colo.-based Open Range Communications Inc., a
provider of wireless broadband services to 26,000 rural customers
in 12 states, filed a Chapter 11 petition (Bankr. D. Del. Case No.
11-13188) on Oct. 6, 2011, to either sell the business or shut
down and liquidate.  Open Range listed about $114 million in
assets and $110 million in debts.  Open Range started its WiMax
broadband and voice service in late 2009, backed by a $267 million
loan from the U.S. Department of Agriculture's Rural Utility
Service and $100 million invested by One Equity Partners, a
financing arm of JPMorgan Chase & Co.

Judge Kevin J. Carey presides over the case.  Marion M. Quirk,
Esq., at Cole, Schotz, Meisel, Forman & Leonard, serves as
bankruptcy counsel.  Logan & Co. serves as claims agent.  FTI
Consulting, Inc., will provide a chief restructuring officer,
Michael E. Katzenstein; an associate chief restructuring officer,
Chris Lewand; and hourly temporary staff.  The petition was signed
by Chris Edwards, chief financial officer.

Roberta A. DeAngelis, the United States Trustee for Region 3,
pursuant to 11 U.S.C. Sec. 1102(a) and (b), appointed seven
unsecured creditors to serve on the Official Committee of
Unsecured Creditors of Open Range Communications Inc.


OPEN RANGE: Court Approves Employment of Cole Schotz as Counsel
---------------------------------------------------------------
The Hon. Kevin J. Carey of the U.S. Bankruptcy Court for the
District of Delaware authorized Open Range Communications Inc., to
employ Cole, Schotz, Meisel, Forman & Leonard, P.A., as bankruptcy
counsel.

As reported in the Troubled Company Reporter on Nov. 10, 2011,
Cole Schotz will, among other things:

   -- advise the Debtor of its rights, power and duties as
      debtor-in-possession;

   -- advise the Debtor regarding matters of bankruptcy law; and

   -- represent the Debtor in proceedings and hearings in the
      United States Bankruptcy Court for the District of
      Delaware.

In exchange for its services, Cole Schotz will be paid on an
hourly basis and will be reimbursed for its expenses.  The firm's
hourly rates are:

   Professionals                   Hourly Rates
   -------------                   ------------
   Members and Special Counsel     $340-$775
   Associates                      $210-$425
   Paralegals                      $160-$245

The hourly rates of the Cole Schotz members, associates and
paralegal expected to perform significant work in this case are:

   Norman L. Pernick, member          $750
   Marion M. Quirk, member            $575
   Sanjay Bhatnagar, associate        $325
   Therese Scheuer, associate         $285
   Pauline Ratkowiak, paralegal       $230

Cole Schotz was retained by the Debtor pursuant to an engagement
agreement executed on Sept. 23, 2011.  Cole Schotz received a
retainer in the initial amount of $200,000 in connection with the
planning and preparation of initial documents for the Debtor's
Chapter 11 case.  On Oct. 5, 2011, Cole Schotz received an
additional $450,000 (the second payment), $50,000 of which was on
account of fees and expenses incurred prior to the Petition date.
To date, $196,069.07 in fees and expenses has been applied to
outstanding balances existing as of the Petition date.  On
Oct. 13, 2011, Cole Schotz returned to the Debtor $53,930.93 on
account of funds from the Initial payment and second payment in
excess of $400,000 which were not used prior to the Petition date.
The remaining $400,000 constitutes a general or "evergreen"
retainer as security for Cole Schotz's post-petition services.

Marion M. Quirk, Esq., a member of Cole Schotz, assured the Court
that his firm is a "disinterested person" as the term is defined
in Section 101(14) of the Bankruptcy Code.

                        About Open Range

Greenwood Village, Colo.-based Open Range Communications Inc., a
provider of wireless broadband services to 26,000 rural customers
in 12 states, filed a Chapter 11 petition (Bankr. D. Del. Case No.
11-13188) on Oct. 6, 2011, to either sell the business or shut
down and liquidate.  Open Range listed about $114 million in
assets and $110 million in debts.  Open Range started its WiMax
broadband and voice service in late 2009, backed by a $267 million
loan from the U.S. Department of Agriculture's Rural Utility
Service and $100 million invested by One Equity Partners, a
financing arm of JPMorgan Chase & Co.

Judge Kevin J. Carey presides over the case.  Marion M. Quirk,
Esq., at Cole, Schotz, Meisel, Forman & Leonard, serves as
bankruptcy counsel.  Logan & Co. serves as claims agent.  FTI
Consulting, Inc., will provide a chief restructuring officer,
Michael E. Katzenstein; an associate chief restructuring officer,
Chris Lewand; and hourly temporary staff.  The petition was signed
by Chris Edwards, chief financial officer.

Roberta A. DeAngelis, the United States Trustee for Region 3,
pursuant to 11 U.S.C. Sec. 1102(a) and (b), appointed seven
unsecured creditors to serve on the Official Committee of
Unsecured Creditors of Open Range Communications Inc.


OPEN SOLUTIONS: Bank Debt Trades at 14% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Open Solutions,
Inc., is a borrower traded in the secondary market at 86.00 cents-
on-the-dollar during the week ended Friday, Nov. 18, 2011, an
increase of 0.32 percentage points from the previous week
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  The Company pays 212.5 basis points
above LIBOR to borrow under the facility.  The bank loan matures
on Jan. 18, 2014, and carries Moody's B1 rating and Standard &
Poor's BB- rating.  The loan is one of the biggest gainers and
losers among 126 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.

                       About Open Solutions

Headquartered in Glastonbury, Conn., Open Solutions, Inc., is a
privately held provider of core data processing and information
management software solutions for financial institutions including
community banks / thrifts and credit unions.  In January 2007, the
company was acquired by The Carlyle Group and Providence Equity
Partners in a leveraged transaction of roughly $1.4 billion
including the assumption of debt.

                           *     *     *

The Troubled Company Reporter, on Nov. 4, 2011, reported that
Moody's affirmed Open Solutions, Inc.'s B3 Corporate Family Rating
(CFR) and Probability of Default Rating, and the ratings for the
company's existing debt.  As part of the ratings action, Moody's
maintained the negative rating outlook for the company's debt
ratings, as the company remains in the midst of a protracted
turnaround amid challenging market conditions.

The affirmation of Open Solutions' B3 rating reflects Moody's
belief that the company's revenue should stabilize during the
second half of 2011, and subsequently its revenue and free cash
flow should resume organic growth in 2012.  Moody's expectations
for a rebound in Open Solutions' revenue and free cash flow are
mainly supported by the company's improving revenue retention
rates, growth in new unit sales and higher backlog of revenue.

The negative outlook reflects Open Solutions' challenges in
maintaining strong sales performance of its new DNA core platform
to replace the declining revenue from its legacy data processing
platforms, which the company does not actively market.

The TCR reported on Nov. 4, 2011, that Standard & Poor's revised
its outlook on Open Solutions, Inc., to negative from stable.  "We
also affirmed our 'B' corporate credit rating on the company and
our 'CCC+' issue rating on its $325 million senior subordinated
notes.  The '6' recovery rating on the notes remains unchanged,"
S&P said.  "In addition, we lowered the bank loan rating on the
company's first-lien credit facilities to 'B+' from 'BB-' and
revised the recovery rating to '2' from '1'.  The '2' recovery
rating indicates substantial (70%-90%) recovery in the event of a
payment default," S&P stated.

"The outlook revision reflects that revenues have been declining
since 2008, restricting the company's ability to reduce debt from
current elevated levels," said Standard & Poor's credit analyst
Jacob Schlanger.


OPTI CANADA: Minister of Industry OKs Proposed CNOOC Acquisition
----------------------------------------------------------------
OPTI Canada Inc. announced that the Minister of Industry, under
the Investment Canada Act, has approved the proposed acquisition
of OPTI by indirect wholly-owned subsidiaries of CNOOC Limited
upon determination that the transaction is likely to be of net
benefit to Canada.  Completion of the Acquisition remains
conditional on satisfaction of other customary conditions.
Subject to the satisfaction or waiver of all conditions precedent,
it is anticipated that the Acquisition will be completed prior to
Dec. 1, 2011.

                         About OPTI Canada

OPTI Canada Inc. (TSXV: OPC) -- http://www.opticanada.com/-- is a
Calgary, Alberta-based company focused on developing major oil
sands projects in Canada.  Its first project, the Long Lake
Project, has a design capacity for 72,000 barrels per day (bbl/d),
on a 100 percent basis, of SAGD (steam assisted gravity drainage)
oil production integrated with an upgrading facility.  The
Upgrader uses the Company's  proprietary OrCrude(TM) process,
combined with commercially available hydrocracking and
gasification.  Through gasification, this configuration
substantially reduces the exposure to and the need to purchase
natural gas.  On a 100 percent basis, the Project is designed to
produce up to 58,500 bbl/d of products, primarily 39 degree API
Premium Sweet Crude (PSC(TM)).  Due to its premium
characteristics, the Company expects PSC(TM) to sell at a price
similar to West Texas Intermediate (WTI) crude oil.  The Long Lake
Project is a joint venture between OPTI and Nexen Inc.  OPTI holds
a 35 percent working interest in the joint venture.  Nexen is the
sole operator of the Project.

The Company's balance sheet at Sept. 30, 2011, showed
C$3.98 billion in total assets, $3.23 billion in total liabilities
and C$749.16 million in total equity.

On July 13, 2011, the Company announced that it had commenced a
creditor protection proceeding (the CCAA Proceeding) in the Court
under the CCAA.  The transaction will be effected by way of a plan
of reorganization, compromise and arrangement (the Master Plan)
through concurrent proceedings under the Companies' Creditors
Arrangement Act (the CCAA) and the Canada Business Corporations
Act (the CBCA).


OPTIONS MEDIA: Reports $710,000 Net Income in Third Quarter
-----------------------------------------------------------
Options Media Group Holdings, Inc., filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q,
reporting net income of $710,169 on $4,052 of net revenues for the
three months ended Sept. 30, 2011, compared with a net loss of
$2.47 million on $294,098 of net revenues for the same period
during the prior year.

The Company also reported a net loss of $11.93 million on $525,103
of net revenues for the nine months ended Sept. 30, 2011, compared
with a net loss of $5.79 million on $633,208 of net revenues for
the same period a year ago.

The Company's balance sheet at Sept. 30, 2011, showed
$3.37 million in total assets, $5.76 million in total liabilities,
and a $2.39 million total stockholders' deficit.

As reported in the TCR on May 31, 2011, Salberg & Company, P.A.,
in Boca Raton, Florida, expressed substantial doubt about Options
Media Group Holdings' ability to continue as a going concern,
following the Company's 2010 results.  The independent auditors
noted that the Company has a net loss of $9.86 million, and net
cash used in operations of $2.02 million for the year ended
Dec. 31, 2010, and a working capital deficit and an accumulated
deficit of $524,157, and $22.74 million respectively at Dec. 31,
2010.  The independent auditors noted that the Company has also
discontinued certain operations.

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

                        http://is.gd/JiESEH

                       About Options Media

Boca Raton, Fla.-based Options Media Group Holdings, Inc., had
historically been an Internet marketing company providing e-mail
services to corporate customers.  Additionally, Options Media has
a lead generation business and disposed of its SMS text messaging
delivery business.  In 2010, Options Media transitioned by
changing its focus to smart phones and acquiring a robust anti-
texting program that prohibits people in vehicles from texting, e-
mailing, and reading such communications while moving.  As part of
its focus on mobile software applications, Options Media has also
broadened its suite of products by continuing to improve the
features of its Drive Safe(TM) anti-texting software.  In
conjunction with this change of focus, in February 2011, Options
Media sold its e-mail and SMS businesses.  Options Media retains
its lead generation business.


OVERLAND STORAGE: Incurs $5.3 Million Net Loss in Sept. 30 Qtr.
---------------------------------------------------------------
Exchange Commission its quarterly report on Form 10-Q reporting a
net loss of $5.35 million on $14.07 million of net revenue for the
three months ended Sept. 30, 2011, compared with a net loss of
$6.49 million on $17.57 million of net revenue for the same period
a year ago.

The Company's balance sheet at Sept. 30, 2011, showed $37.97
million in total assets, $34.44 million in total liabilities and
$3.53 million in total shareholders' equity.

"We are very excited about the tremendous customer response to our
new SnapServer DX storage solution, which we introduced worldwide
- the week of October 10th," said Eric Kelly, President and CEO of
Overland Storage.  "SnapServer DX was built on the premise that
the next generation of storage provisioning is no storage
provisioning at all.  Customers are quickly recognizing that with
our DX series they no longer need to worry about provisioning
storage by department or user in advance because DX dynamically
allocates storage to whoever needs it most, seamlessly and without
interruption or downtime."

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

                        http://is.gd/AP4JGr

                      About Overland Storage

San Diego, Calif.-based Overland Storage, Inc. (Nasdaq: OVRL) --
http://www.overlandstorage.com/-- is a global provider of unified
data management and data protection solutions designed to enable
small and medium enterprises (SMEs), corporate departments and
small and medium businesses (SMBs) to anticipate and respond to
change.

The Company reported a net loss of $14.50 million on $70.19
million of net revenue for the fiscal year ended June 30, 2011,
compared with a net loss of $12.96 million on $77.66 million of
net revenue during the prior fiscal year.

Moss Adams LLP, in San Diego, California, noted that the Company's
recurring losses and negative operating cash flows raise
substantial doubt about the Company's ability to continue as a
going concern.


OVERLAND STORAGE: Files Form S-8; Registers 3.8MM Common Shares
---------------------------------------------------------------
Overland Storage, Inc., filed with the U.S. Securities and
Exchange Commission a Form S-8 registration statement to register
3.8 million shares of common stock issuable under the 2009 Equity
Incentive Plan and the 2006 Employee Stock Purchase Plan.  A full-
text copy of the filing is available for free at:

                        http://is.gd/QEBwgi

                      About Overland Storage

San Diego, Calif.-based Overland Storage, Inc. (Nasdaq: OVRL) --
http://www.overlandstorage.com/-- is a global provider of unified
data management and data protection solutions designed to enable
small and medium enterprises (SMEs), corporate departments and
small and medium businesses (SMBs) to anticipate and respond to
change.

The Company reported a net loss of $14.50 million on $70.19
million of net revenue for the fiscal year ended June 30, 2011,
compared with a net loss of $12.96 million on $77.66 million of
net revenue during the prior fiscal year.

The Company's balance sheet at Sept. 30, 2011, showed $37.97
million in total assets, $34.44 million in total liabilities and
$3.53 million in total shareholders' equity.

Moss Adams LLP, in San Diego, California, noted that the Company's
recurring losses and negative operating cash flows raise
substantial doubt about the Company's ability to continue as a
going concern.


OXYSURE SYSTEMS: Delays of Form 10-Q for Sept. 30 Quarter
---------------------------------------------------------
OxySure Systems, Inc., notified the U.S. Securities and Exchange
Commission that it requires additional time to finalize certain
required disclosures and documentation for its Form 10-Q for the
fiscal quarter ended Sept. 30, 2011.

                       About OxySure Systems

Frisco, Tex-based OxySure Systems, Inc., was formed on Jan. 15,
2004, as a Delaware "C" Corporation for the purpose of developing
products with the capability of generating medical grade oxygen
"on demand," without the necessity of storing oxygen in compressed
tanks.  The Company developed a unique technology that generates
medically pure (USP) oxygen from two dry, inert powders.  Other
available chemical oxygen generating technologies contain hazards
that the Company believes make them commercially unviable for
broad-based emergency use by lay rescuers or the general public.

The Company's launch product is the OxySure Model 615 portable
emergency oxygen system.  The Company believes that the OxySure
Model 615 is currently the only product on the market that can be
safely pre-positioned in public and private venues for emergency
administration of medical oxygen by lay persons, without the need
for training.

The Company's balance sheet at June 30, 2011, showed $1.1 million
in total assets, $3.9 million in total liabilities, and a
stockholders' deficit of $2.8 million.

The Company has an accumulated deficit of $12,735,715 and
$11,898,260 at June 30, 2011, and Dec. 31, 2010, respectively, and
stockholders' deficit of $2,781,836 and $2,325,967 as of
June 30, 2011, and Dec. 31, 2010, respectively.  The Company
requires substantial additional funds to manufacture and
commercialize its products.  "Management is actively seeking
additional sources of equity and/or debt financing; however, there
is no assurance that any additional funding will be available,"
the Company said in the filing.

"These factors, among others, raise substantial doubt about the
Company's ability to continue as a going concern."


OXYSURE SYSTEMS: Reaches Pacts to Modify Maturities of Notes
------------------------------------------------------------
OxySure Systems, Inc., on Nov. 14, 2011, reached agreement to
modify each of the maturities of that certain Agave First Note and
that certain JTR Second Note to April 15, 2013.

During March 2008, the Company completed a $1 million financing
transaction consisting of a promissory note for $750,000 and a
promissory note with a draw down provision for up to $250,000.  As
at Dec. 31, 2008, the amount outstanding on the JTR Second Note
was $250,000.  The Notes are subordinated, convertible notes and
were due and payable on the earlier to occur of (i) completion of
the next financing round completed by the Company; or (ii) one
year after the Notes were issued.  In March 2009 the Agave First
Note and the JTR Second Note were modified by extending the
maturity date in each case to April 15, 2010.  On Dec. 31, 2009,
the Agave First Note and the JTR Second Note were further modified
by extending the maturity date in each case to April 15, 2011.  In
August 2010, the Agave First Note and the JTR Second Note were
further modified by extending the maturity date in each case to
April 15, 2012.

On Nov. 14, 2011, the Agave First Note and the JTR Second Note
were further modified by extending the maturity date in each case
to April 15, 2013.

The holder of the First Note is Agave Resources, LLC, and the
President of Agave is Donald Reed, one of the Company's Directors.
The holder of the Second Note is JTR Investments, Limited a
company controlled by Julian T. Ross, the Company's President and
Chief Financial Officer.

                       About OxySure Systems

Frisco, Tex-based OxySure Systems, Inc., was formed on Jan. 15,
2004, as a Delaware "C" Corporation for the purpose of developing
products with the capability of generating medical grade oxygen
"on demand," without the necessity of storing oxygen in compressed
tanks.  The Company developed a unique technology that generates
medically pure (USP) oxygen from two dry, inert powders.  Other
available chemical oxygen generating technologies contain hazards
that the Company believes make them commercially unviable for
broad-based emergency use by lay rescuers or the general public.

The Company's launch product is the OxySure Model 615 portable
emergency oxygen system.  The Company believes that the OxySure
Model 615 is currently the only product on the market that can be
safely pre-positioned in public and private venues for emergency
administration of medical oxygen by lay persons, without the need
for training.

The Company's balance sheet at June 30, 2011, showed $1.1 million
in total assets, $3.9 million in total liabilities, and a
stockholders' deficit of $2.8 million.

The Company has an accumulated deficit of $12,735,715 and
$11,898,260 at June 30, 2011, and Dec. 31, 2010, respectively, and
stockholders' deficit of $2,781,836 and $2,325,967 as of
June 30, 2011, and Dec. 31, 2010, respectively.  The Company
requires substantial additional funds to manufacture and
commercialize its products.  "Management is actively seeking
additional sources of equity and/or debt financing; however, there
is no assurance that any additional funding will be available,"
the Company said in the filing.

"These factors, among others, raise substantial doubt about the
Company's ability to continue as a going concern."


PACIFIC AVENUE: Blue Air 2010 Files Bankruptcy Plan
---------------------------------------------------
Susan Stabley, staff writer at Charlotte Business Journal, reports
that Blue Air 2010 LLC, which bought the EpiCentre's $93.97
million construction debt, filed on Nov. 14, 2011, its take on a
bankruptcy plan for the companies that own and operate EpiCentre.

Business Journal, citing court document, says Afshin Ghazi already
faces the loss of his prized development, the 302,000-square-foot
EpiCentre complex uptown.  Soon, he may also lose the home of his
EpiCentre Theaters, which is poised for eviction under a new
bankruptcy plan proposed by the owners of the project's debt.

                       About Pacific Avenue

Pacific Avenue, LLC, is a North Carolina limited liability company
whose principal place of business is located in Charlotte, North
Carolina.  Together with Pacific Avenue II, LLC, the Company owns
and operates the EpiCentre, a mixed-use commercial development
consisting of approximately 302,000 rentable square feet of office
and retail/entertainment space, plus an underground parking deck,
located at 210 E. Trade St. in the city block surrounded by the
light rail line, Fourth Street, College Street, and Trade Street
in uptown Charlotte, North Carolina.  The companies were led by
Afshin Ghazi.

Pacific Avenue LLC filed for Chapter 11 bankruptcy protection
(Bankr. W.D. N.C. Case No. 10-32093) on July 22, 2010.  Joseph W.
Grier, III, Esq., at Grier, Furr & Crisp, P.A., assists the
Company in its restructuring effort.  The Company estimated up to
$50,000 in assets and $50 million to $100 million in debts in its
bankruptcy petition.

The Company's affiliate, Pacific Avenue II, filed a separate
Chapter 11 petition.

Linda W. Simpson, the U.S. Bankruptcy Administrator for the
Western District of North Carolina, appointed six members to the
official committee of unsecured creditors in the Chapter 11 case
of Pacific Avenue LLC.


PAVILION PROPERTIES: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: Pavilion Properties, LLC
        P.O. Box 5629
        Brandon, MS 39047

Bankruptcy Case No.: 11-03994

Chapter 11 Petition Date: November 17, 2011

Court: United States Bankruptcy Court
       Southern District of Mississippi
       (Jackson Divisional Office)

Judge: Edward Ellington

Debtor's Counsel: Richard A. Montague, Jr., Esq.
                  WELLS, MOORE, SIMMONS, & HUBBARD
                  P.O. Box 1970
                  Jackson, MS 39215-1970
                  Tel: 601 354-5400
                  E-mail: rmontague@wellsmoore.com

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

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

The Debtor did not file a list of its largest unsecured creditors
together with its petition.

The petition was signed by Albert R. Garner, member.

Affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
RTC Properties, LLC                    11-02754   08/08/11


PLAINFIELD BUSINESS: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Plainfield Business Center 2004, LLC
        7252 Benton Drive
        Frankfort, IL 60423

Bankruptcy Case No.: 11-46994

Chapter 11 Petition Date: November 19, 2011

Court: U.S. Bankruptcy Court
       Northern District of Illinois (Chicago)

Judge: Pamela S. Hollis

Debtor's Counsel: Ariel Weissberg, Esq.
                  WEISSBERG & ASSOCIATES, LTD
                  401 S. LaSalle Street, Suite 403
                  Chicago, IL 60605
                  Tel: (312) 663-0004
                  Fax: (312) 663-1514
                  E-mail: ariel@weissberglaw.com

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

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

The Company?s list of its 20 largest unsecured creditors filed
with the petition is available for free at:
http://bankrupt.com/misc/ilnb11-46994.pdf

The petition was signed by Joseph Ardovitch, manager.


POOLS AND SPAS: Files for Chapter 11 Bankruptcy Protection
----------------------------------------------------------
Aaron Nathans at the News Journal reports that Pools and
Spas Unlimited sought on Nov. 16, 2011, Chapter 11 protection in
U.S. Bankruptcy Court in Delaware as it looks to reorganize to
keep the business open.

The report, citing court documents, says the business had long
been profitable, but the recession "resulted in a significant
decline in the consumer purchase of nonessential recreation goods,
such as pools and spas."  In addition, manufacturing costs
increased, and workdays were lost to severe weather in recent
years.

According to report, the company has $1.25 million in unsecured
liabilities.

The report notes that the company closed its store at 3420
Kirkwood Highway near Prices Corner in Wilmington, Delaware, last
year.  The company started at the Kirkwood location in 1981; the
current location, at 19 S. Broad St. in Middletown, Delaware,
opened in 2005.

The report adds that another Pools and Spas Unlimited location in
Milford is under a different corporation and is not included in
the proposed reorganization.

Pools and Spas Unlimited sells pool and spa equipment,
accessories, chemicals, patio furniture and gazebos and offers
installation and maintenance services.


POWER BALANCE: Class Suits Force Wristband Maker Into Bankruptcy
----------------------------------------------------------------
Power Balance LLC, the maker of $30 athletic wristbands that
promise to alter the body?s natural energy flow to make it
stronger, well-balanced and more flexible, filed for Chapter 11
bankruptcy protection on Friday with the U.S. Bankruptcy Court in
Santa Ana, Calif., amid litigation and plummeting sales.

Katy Stech, writing for Dow Jones' Daily Bankruptcy Review,
relates the company plans to sell its business for $6 million to a
company that?s related to the Chinese manufacturer that makes the
bracelets.  Under the proposal, the company would conduct an
auction to see if any higher bidders emerge.

DBR relates that questions arose last year when Australia's
consumer-protection watchdog investigated the California company?s
so-called "holographic technology," which claims to tune the
body's frequency for optimal athletic performance when the
wristband's two dime-sized holographs align around your wrist.  A
round of class-action lawsuits followed, reciting the commission's
findings and spreading negative publicity that deflated consumer
interest in the bracelets, which are sold in more than 3,300
retail stores and on the company?s Web site.

According to the Sacramento Bee, Power Balance recently settled a
$57.4 million class-action lawsuit with its customers for false
advertising.  SacBee relates that under terms of the agreement,
"anybody who was foolish enough to pay for a Power Balance
Bracelet can get their money back plus up to $5 to cover the costs
of shipping and handling."

Garrick Hollander, Esq. -- ghollander@winthropcouchot.com -- at
Winthrop Couchot, represents the company in the bankruptcy case.
He said the company?s revenue topped $52 million last year, but
has since slowed, hitting just $20 million through the end of
October.

Power Balance LLC was founded by brothers Troy and Josh Rodarmel
and employs about 40 people at its Lake Forest, Calif.,
headquarters.


POWER BALANCE: Case Summary & 21 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Power Balance, LLC, a Delaware limited liability company
        30012 Ivy Glenn Drive, Suite 180
        Laguna Niguel, CA 92677

Bankruptcy Case No.: 11-25982

Chapter 11 Petition Date: November 18, 2011

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

Judge: Theodor Albert

Debtor's Counsel: Garrick A. Hollander, Esq.
                  WINTHROP COUCHOT
                  660 Newport Center Drive, Suite 400
                  Newport Beach, CA 92660
                  Tel: (949) 720-4150
                  Fax: (949) 720-4111
                  E-mail: ghollander@winthropcouchot.com

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

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

The Company?s list of its 21 largest unsecured creditors filed
with the petition is available for free at:
http://bankrupt.com/misc/cacb11-25982.pdf

The petition was signed by Henry G. Adamanym, Jr., chairman.


RAY WILLIAMS: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Ray Williams Sheet Metal Company Inc.
        2535 St. Clair Street
        Jacksonville, FL 32254

Bankruptcy Case No.: 11-08446

Chapter 11 Petition Date: November 18, 2011

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

Debtor's Counsel: Bryan K. Mickler, Esq.
                  LAW OFFICES OF MICKLER & MICKLER
                  5452 Arlington Expressway
                  Jacksonville, FL 32211
                  Tel: (904) 725-0822
                  Fax: (904) 725-0855
                  E-mail: court@planlaw.com

Scheduled Assets: $498,227

Scheduled Debts: $1,708,342

The Company?s list of its 20 largest unsecured creditors filed
with the petition is available for free at:
http://bankrupt.com/misc/flmb11-08446.pdf

The petition was signed by Raymond O. Williams, Jr., president.


SARGENT RANCH: Case Summary & 14 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Sargent Ranch, LLC, a Calif. Limited Liability Company
        8038 Gilman Court
        San Diego, CA 92037

Bankruptcy Case No.: 11-18853

Chapter 11 Petition Date: November 18, 2011

Court: U.S. Bankruptcy Court
       Southern District of California (San Diego)

Judge: Laura S. Taylor

Debtor's Counsel: Brendan K. Ozanne, Esq.
                  DAWSON & OZANNE
                  7938 Ivanhoe Avenue, 2nd Floor
                  La Jolla, CA 92037
                  Tel: (760) 877-9552
                  Fax: (619) 491-9205

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

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

The petition was signed by Wayne F. Pierce, managing member.

Debtor's List of Its 14 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Mike Baldridge                     Consulting           $1,774,250
335 Sutton Circle
Danville, CA 94506

Manaslan & Rougeau, LLP            Legal Fees             $750,000
400 Montgomery Street, Suite 1000
San Francisco, CA 94104

Chester Spiering                   Consulting Fees        $500,000
1235 Christobal Privada
Mountain View, CA 94040

Santa Clara County                 --                     $489,220
Tax Collector
70 W. Hedding Street
San Jose, CA 95110

Pillsbury Winthrop                 Legal Fees             $411,000
2300 N. Street NW, Room 6182
Washington, DC 20037

Barnes & Thornberg                 Legal Fees             $200,000

McNally Temple                     Consulting Fees         $84,000

Miller Starr Regalla               Legal Fees              $83,674

Clark & Weinstock                  Legal Fees              $75,000

Santa Cruz County                  --                      $53,034

Live Oak Associates                Biological Surveys      $30,000

Morrison Foerster                  Legal Fees              $13,000

Luhdorff & Scalmanini              Engineering Fees         $9,500

Ruggeri Jensen Azar                Engineering Fees         $8,170


SBARRO INC: Judge Confirms First Amended Chapter 11 Plan
--------------------------------------------------------
The Hon. Shelley C. Chapman of the U.S. Bankruptcy Court for the
Southern District of New York confirmed the first amended joint
Chapter 11 plan of reorganization of Sbarro Inc. and its debtor-
affiliates.

"[The] ruling marks an important milestone in our efforts to
emerge from the bankruptcy process as a stronger business
that will be better positioned to serve our customers,"
PizzaMarketPlace.com quotes Nicholas McGrane, interim president
and CEO of Sbarro Inc., as saying.

PizzaMarketPlace.com relates Mr. McGrane added that when the
company emerges from bankruptcy, its debts will have been reduced
by about 70% and Sbarro Inc. will have access to $35 million in
capital provided by its new ownership group.

According to the Troubled Company Reporter on Oct. 13, 2011,
Nicholas McGrane, Interim President and Chief Executive Officer of
Sbarro, said, "The amended plan is a positive development for
Sbarro that will allow the Company to emerge from bankruptcy in
the very near term with significantly reduced debt.  The plan also
provides the Company with approximately $35 million of new capital
to continue our turnaround effort, which has already increased
same store sales year-to-date, including continued improvement in
the third quarter.  In addition, through this process, the Company
has been able to improve lease terms at a number of locations and
close some underperforming restaurants.  We appreciate the support
of our first lien lenders and believe the ample liquidity they
have provided -- combined with our reduced debt and operating
expenses -- will position Sbarro for accelerated growth going
forward."

Key terms of the Amended Plan include:

  -- Converting up to $35 million of loans outstanding under
     Sbarro's DIP Facility into new first-out rollover term loans,
     which together with the new money term loans of up to $35
     million will comprise the "First-Out Exit Term Loan
     Facilities" of the reorganized company.

  -- Converting a portion of the Prepetition First Lien Credit
     Facility into a $75 million "last-out" exit term facility;

  -- Converting the remaining approximately $100 million in
     secured indebtedness outstanding under the Prepetition First
     Lien Credit Facility into substantially all of the common
     equity of Reorganized Sbarro; and

  -- Eliminating all other outstanding debt.

The exit financing package provided by the first lien lenders
allows the Company to exit bankruptcy in the fourth quarter with
significant cash interest coverage.  As the Company enters the
fourth quarter -- historically its busiest period -- it expects to
be able to generate positive cash flow before year-end, resulting
in net leverage below $100 million and expected liquidity of
approximately $40 million by the end of 2011.

                          About Sbarro Inc.

The Sbarro family started its business after moving to Brooklyn,
New York, from Naples, Italy, in 1956.  Today Sbarro is a leading,
global Italian quick service restaurant concept with approximately
5,170 employees, 1,045 restaurants throughout 42 countries, and
annual revenues in excess of $300 million.

Sbarro Inc. sought bankruptcy protection under Chapter 11 (Bankr.
S.D.N.Y. Lead Case No. 11-11527) to eliminate about $200 million
in debt.  The Debtor disclosed $51,537,899 in assets and
$460,975,646 in liabilities as of the Chapter 11 filing.

Sbarro said it has reached an agreement with all of its second-
lien secured lenders and approximately 70% of its senior
noteholders on the terms of a reorganization plan that will
eliminate more than half of the Company's total indebtedness.

Edward Sassower, Esq., and Nicole Greenblatt, Esq., at Kirkland &
Ellis, LLP, serve as the Debtors' general bankruptcy counsel.
Rothschild, Inc., is the Debtors' investment banker and financial
advisor.  PriceWaterhouseCoopers LLP is the Debtors' bankruptcy
consultants.  Marotta Gund Budd & Dzera, LLC, is the Debtors'
special financial advisor.  Curtis, Mallet-Prevost, Colt & Mosle
LLP serves as the Debtors' conflicts counsel.  Epiq Bankruptcy
Solutions, LLC, is the Debtors' claims agent.  Sard Verbinnen & Co
is the Debtors' communications advisor.


TERRESTAR CORP: Challenges $25.5-Mil. in Elektrobit Claims
----------------------------------------------------------
Reuters reports that Elektrobit Corporation has been informed that
TerreStar Corporation and certain of its preferred shareholders,
filed on Nov. 17, 2011, objections to claims asserted by EB's
subsidiary, Elektrobit Inc., in the Chapter 11 reorganization case
of TerreStar Corporation.

According to the Reuters, EB's claims are partly based on a
guarantee issued by TerreStar Corporation on EB's accounts
receivable from TerreStar Corporation's subsidiary, TerreStar
Networks Inc, and partly based on TerreStar Corporation's direct
contractual obligations towards EB.  The objection includes a
request to the U.S. Bankruptcy Court to disallow the portion of
claims based on the guarantee and reduce the portion of claim
based on the TerreStar Corporation's direct contractual
obligations towards EB.

Specifically, the objectors seek to disallow a portion of EB's
claims against TerreStar Corporation totaling $25.5 million --
including $24.8 million in obligations that were guaranteed by
TerreStar Corporation and $650,890 for goods supplied to and
payable by TerreStar Networks in due course on a priority basis in
its Chapter 11 liquidation case -- as well as claims by EB for
payment of attorneys' fees, costs and interest in unliquidated
amounts.

Reuters says, under the United States Bankruptcy Code, with
limited exceptions a creditor's filed claim is presumed to be
valid in the amount filed unless another party objects.  The
filing of an objection commences a litigation process in which the
creditor is generally required to prove to the Bankruptcy Court
the validity and amount of its claim.  Thus, due to the objection
filed by TerreStar Corporation and the joint objection filed by
the preferred shareholder group, EB's claims will be subject to
litigation in U.S. Bankruptcy Court.  EB expects to vigorously
defend its claims against the objections, but speculation
regarding the likely outcome of the dispute is premature at this
time.

Reuters relates that EB has lodged objections to proposed plan and
related creditor disclosures submitted by TerreStar Corporation to
the Bankruptcy Court, and the parties objecting to EB's claim have
scheduled the hearing on their objections on Jan. 10, 2012, the
date scheduled for a hearing on TerreStar Corporation's proposed
creditor disclosures.

           About TerreStar Corp. and TerreStar Networks

TerreStar Corporation and TerreStar Holdings, Inc., filed
voluntary Chapter 11 petitions with the U.S. Bankruptcy Court for
the Southern District of New York on Feb. 16, 2011.

TSC's Chapter 11 filing joins the bankruptcy proceedings of
TerreStar Networks Inc. and 12 other affiliates, which filed on
Oct. 19, 2010.  The October Chapter 11 cases are procedurally
consolidated under TSN's Case No. 10-15446 under Judge Sean H.
Lane.

TSC is the parent company of each of the October Debtors.  TSC has
four wholly owned direct subsidiaries: TerreStar Holdings, Inc.,
TerreStar New York Inc., Motient Holdings Inc., and MVH Holdings
Inc.

TSC's case is jointly administered with the cases of seven of the
October Debtors under the caption In re TerreStar Corporation, et
al., Case No. 11-10612 (SHL).  The seven Debtor entities who
sought joint administration with TSC are TerreStar New York Inc.,
Motient Communications Inc., Motient Holdings Inc., Motient
License Inc., Motient Services Inc., Motient Ventures Holdings
Inc., and MVH Holdings Inc.

TSC is a Delaware corporation whose main asset is the equity in
non-Debtor TerreStar 1.4 Holdings LLC, which has the right to use
a "1.4 GHz terrestrial spectrum" pursuant to 64 licenses issued by
the Federal Communication Commission.  TSC also has an indirect
89.3% ownership interest in TerreStar Network, Inc., which
operates a separate and distinct mobile communications business.
TerreStar Holdings is a Delaware corporation that directly holds
100% of the interests in 1.4 Holdings LLC.

TerreStar Networks -- TSN -- the principal operating entity of
TSC, developed an innovative wireless communications system to
provide mobile coverage throughout the United States and Canada
using satellite-terrestrial smartphones.  The system, however,
required an enormous amount of capital expenditures and initially
produced very little in the way of revenue.  TSN's available cash
and borrowing capacity were insufficient to cover its funding;
thus, forcing TSN to seek bankruptcy protection in October 2010.

TSC estimated assets and debts of $100 million to $500million in
its Chapter 11 petition.

Ira S. Dizengoff, Esq., at Akin, Gump, Strauss, Hauer & Feld, LLP,
in New York, serves as counsel for the TSC and TSN Debtors.
Garden City Group is the claims and notice agent.  Blackstone
Advisory Partners LP is the financial advisor.  The Garden City
Group, Inc., is the claims and noticing agent in the Chapter 11
cases.

Otterbourg Steindler Houston & Rosen P.C. is the counsel to the
Official Committee of Unsecured Creditors formed in TSN's Chapter
11 cases.  FTI Consulting, Inc., is the Committee's financial
advisor.

TerreStar has signed a contract to sell its business to Dish
Network Corp. for $1.38 billion.  TerreStar cancelled a June 30
auction because there were no competing bids submitted by the
deadline.


TEUFEL NURSERY: Creditors Get 100% Recovery
-------------------------------------------
Andy Giegerich, staff writer at the Portland Business Journal,
reports that Teufel Nursery Inc. said it is on the road to a full
recovery, saying that it repaid 100% of its $10 million worth of
outstanding debts.

"The bankruptcy stigma is there, and we don?t shy away from it,"
the report quotes Rick Christensen, Teufel's landscape division
manager, as saying.  "It was part of our past, something that was
unavoidable, and we prepared for it in a way that provided the
most positive outcome possible."

Headquartered in Portland, Oregon, Teufel Nursery, Inc. --
http://www.teufel.com/-- aka Teufel Landscape offers lawn and
gardening services.  The Company filed for Chapter 11 on June 24,
2009, (Bankr. D. Ore. Case No. 09-34880) Robert J. Vanden Bos,
Esq., at Vanden Bos & Chapman represents the Debtor in its
restructuring efforts.  The Debtor has assets and debts both
ranging from $10 million to $50 million.  The Company successfully
exited court supervision on Feb. 1, 2010, with a plan to repay its
creditors.


TOWNS REAL: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: Towns Real Estate & Appraisal Service, Inc.
        101 Hickory Avenue
        Oneonta, AL 35121

Bankruptcy Case No.: 11-05875

Chapter 11 Petition Date: November 18, 2011

Court: U.S. Bankruptcy Court
       Northern District of Alabama (Birmingham)

Judge: Thomas B Bennett

Debtor's Counsel: William A. Ellis, III, Esq.
                  223 2nd Avenue East
                  Oneonta, AL 35121
                  Tel: (205) 274-2394
                  E-mail: ellislawfirm@aol.com

Scheduled Assets: $1,580,000

Scheduled Debts: $1,438,932

The Company?s list of its largest unsecured creditors filed with
the petition does not contain any entry.

The petition was signed by William M Towns, president/CEO.


WEST END FINANCIAL: Founder Landberg Pleads Guilty to Fraud
-----------------------------------------------------------
Carla Main, substituting for Bloomberg News bankruptcy columnist
Bill Rochelle, reports that William Landberg, the founder of the
bankrupt New York-based investment firm West End Financial
Advisors LLC, pleaded guilty to federal charges of securities
fraud.  Sentencing is set for March 16.

According to the report, prosecutors said Mr. Landberg sought
money from West LB for a loan related to property in Alabama. When
the transaction didn't close, Mr. Landberg failed to tell West LB
and didn't return the money, according to court papers.  He
entered his plea Nov. 18 before U.S. Judge Laura Taylor Swain in
Manhattan.

The criminal case is U.S. v. Landberg, 10-cr-00538, U.S.
District Court, Southern District of New York (Manhattan).

                     About West End Financial

West End Financial Advisors LLC, Sentinel Investment Management
Corp. and a number of affiliates sought Chapter 11 protection
(Bankr. S.D.N.Y. Lead Case No. 11-11152) in Manhattan on March 15,
2011.  New York-based West End estimated its assets and debts at
$1 million to $10 million.  Arnold Mitchell Greene, Esq., at
Robinson Brog Leinwand Greene Genovese & Gluck, P.C., serves as
the Debtors' bankruptcy counsel.

William Landberg created WEFA in 2000 as an investment and
financial management company. Subsequently he purchased Sentinel
Investment Management Corp., a boutique investment advisory
company.  Sentinel and WEFA targeted individual private clients
for investments in fixed income funds and alternative investment
products.  Mr. Landberg's ultimately resigned from all West End
related entities effective June 2, 2009, following a probe on
misappropriation of funds.

Schedules of assets and liabilities for West End and its
funds showed assets of $400,000 and debt of $6.7 million, not
including $66 million from investors who may or may not be
considered creditors.  Debt includes $5.5 million in secured
claims, according to the schedules.

Secured creditors with the largest claims are DZ Bank ($118.1
million), West LB ($41 million), Iberia Bank ($11.3 million), and
Suffolk County National Bank ($8.3 million).

West End Financial filed a plan of liquidation in bankruptcy court
in August.


WILLIAM LYON: Luxor Set to Take Control of Restructuring
--------------------------------------------------------
Carla Main, substituting for Bloomberg News bankruptcy columnist
Bill Rochelle, reports that Luxor Capital Group LP is poised to
gain control of William Lyon Homes after the builder filed a plan
with regulators for a prepackaged bankruptcy.

According to the report, Luxor, a New York-based hedge fund, leads
creditors that will own 51.5% of William Lyon's equity after the
proposed reorganization, according to a filing Nov. 17 with the
U.S. Securities and Exchange Commission.  The Lyon family, which
took the homebuilder private in 2006, will reduce its stake to 20%
from 94.6%, the company said.

The report relates that the reorganization plan comes after weeks
of negotiations with creditors as the company's cash supply
dwindled amid slowing home sales.  Billionaire Thomas Barrack's
Colony Financial Inc., which gave the builder a $206 million
secured loan in 2009, and investors holding a majority of its $283
million of unsecured bonds agreed to the plan, William Lyon said
in the filing.


                     About William Lyon Homes

Based in Newport Beach, California, William Lyon Homes and
subsidiaries -- http://www.lyonhomes.com/-- are primarily engaged
in designing, constructing and selling single family detached and
attached homes in California, Arizona and Nevada.

The Company's balance sheet at June 30, 2011, showed $611.15
million in total assets, $610.25 million in total liabilities and
$896,000 in equity.

William Lyon reported a $22.4 million net loss for the six months
ended June 30, 2011, on revenue of $101.9 million.  The operating
loss for the half year was $12.5 million.

The company didn't make the $7.5 million interest payment that was
due Oct. 1 on $138.8 million in 10.75% senior notes due 2013.

In November 2011, William Lyon announced an exchange offer that
will swap senior notes for equity while generating $85 million in
new cash.  Holders of 64% of the $284 million in senior unsecured
notes support the arrangement where the existing debt will be
exchanged for $75 million in new secured notes plus 28.5%
of the common equity.  The Lyon family will invest $25 million
in return for 20% of the common stock and warrants for another
9.1%.  Senior secured lenders are to receive a 10.25%, three-year
note for $235 million.

Moody's Investors Service assigned a Ca/LD probability of default
rating to William Lyon after the Company missed a required
interest payment on its 10.75% senior unsecured notes within the
30-day grace period.


* 11th Circuit Writes Ponzi Opinion Helpful for Madoff Trustee
--------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the U.S. Court of Appeals in Atlanta handed down a
decision in October that the trustee for Bernard L. Madoff
Investment Securities LLC will find useful in trying to overturn a
September decision by U.S. District Judge Jed Rakoff applying the
so-called safe harbor in Section 546(e) of the Bankruptcy Code to
Ponzi schemes.

According to the report, the Eleventh Circuit case in Atlanta
involved an interlocutory appeal of a bankruptcy court's order
that refused to grant a trustee summary judgment for the return of
fictitious profits and principal paid out in a Ponzi scheme.

Mr. Rochelle relates that the case involved a hedge fund that in
reality was a Ponzi scheme. The investors believed they were
buying equity in the funds.  The trustee contended that as equity
investors, even the principal they took from the Ponzi scheme
didn't represent "value."  The circuit court in Atlanta disagreed,
taking sides with the U.S. Court of Appeals in San Francisco.  If
the Ponzi scheme was already operating when the supposed equity
investments were made, the courts of appeal say the investor
immediately had a fraud claim that could offset later lawsuits to
recover principal, although not fictitious profits.

Mr. Rochelle notes that the language useful for the Madoff trustee
appears late in the opinion, where the circuit court describes how
the trustee wanted the court to "focus solely on the form" of the
equity investment and "ignore the reality of how Ponzi schemes
operate."  The Eleventh Circuit said, "no court to date has
applied this form over substance rule in fraudulent transfer
actions involving Ponzi schemes."

According to Mr. Rochelle, the statements are useful for the
Madoff trustee because Judge Rakoff ruled in a lawsuit with New
York Mets owner Fred Wilpon that the safe harbor for brokers
applied even though it was a Ponzi scheme.  Judge Rakoff applied
the safe harbor applicable to stockbrokers without analyzing
whether the Madoff firm was a broker in form only.

The Eleventh Circuit decision was written by U.S. District Judge
William T. Hodges, sitting by designation.  The case is Perkins v.
Haines, 10-10683, U.S. Court of Appeals for the Eleventh Circuit
(Atlanta).


* Large Companies With Insolvent Balance Sheets
-----------------------------------------------

                                           Total
                                          Share-      Total
                                Total   Holders'    Working
                               Assets     Equity    Capital
   Company        Ticker        ($MM)      ($MM)      ($MM)
   -------        ------       ------   --------    -------
ABSOLUTE SOFTWRE  ABT CN        116.7      (13.2)      (2.9)
ACCO BRANDS CORP  ABD US      1,050.3      (32.6)     298.7
ALASKA COMM SYS   ALSK US       608.6      (51.3)      15.0
AMC NETWORKS-A    AMCX US     2,121.5   (1,065.5)     519.5
AMER AXLE & MFG   AXL US      2,232.8     (373.3)     125.6
AMERISTAR CASINO  ASCA US     2,039.6     (105.7)     (50.8)
ANOORAQ RESOURCE  ARQ SJ      1,016.8     (119.1)      20.8
AUTOZONE INC      AZO US      5,869.6   (1,254.2)    (638.5)
BLUEKNIGHT ENERG  BKEP US       320.8      (12.5)     (69.9)
BOSTON PIZZA R-U  BPF-U CN      146.9     (105.3)      (2.0)
CABLEVISION SY-A  CVC US      6,740.1   (5,525.9)    (886.1)
CANADIAN SATEL-A  XSR CN        174.4      (29.8)     (55.9)
CAPMARK FINANCIA  CPMK US    20,085.1     (933.1)       -
CC MEDIA-A        CCMO US    16,508.9   (7,456.0)   1,531.3
CENTENNIAL COMM   CYCL US     1,480.9     (925.9)     (52.1)
CENVEO INC        CVO US      1,407.1     (331.1)     222.9
CHENIERE ENERGY   CQP US      1,803.0     (524.1)      67.7
CHENIERE ENERGY   LNG US      2,651.4     (446.9)    (282.7)
CHOICE HOTELS     CHH US        467.9      (14.4)      28.0
CINCINNATI BELL   CBB US      2,683.8     (626.1)      22.7
CLOROX CO         CLX US      4,077.0      (76.0)     (30.0)
CUMULUS MEDIA-A   CMLS US       367.2     (322.5)      46.4
DEAN FOODS CO     DF US       5,911.2      (58.1)     327.7
DENNY'S CORP      DENN US       280.6      (95.5)     (40.1)
DIRECTV-A         DTV US     18,232.0   (2,471.0)     103.0
DOMINO'S PIZZA    DPZ US        438.2   (1,221.0)     118.2
DUN & BRADSTREET  DNB US      1,767.1     (567.8)    (483.7)
ECOSYNTHETIX INC  ECO CN         45.2     (346.7)      32.2
FNB UNITED CORP   FNBND US    1,643.9     (129.9)       -
FRANCESCAS HOLDI  FRAN US        69.7       (0.1)      22.8
FREESCALE SEMICO  FSL US      3,596.0   (4,488.0)   1,386.0
GENCORP INC       GY US         994.2     (143.4)     102.2
GLG PARTNERS INC  GLG US        400.0     (285.6)     156.9
GLG PARTNERS-UTS  GLG/U US      400.0     (285.6)     156.9
GOLDEN QUEEN MNG  GQM CN          6.9       (2.0)       5.3
GOLDEN QUEEN MNG  GQMNF US        6.9       (2.0)       5.3
GRAHAM PACKAGING  GRM US      2,947.5     (520.8)     298.5
GROUPON INC       GRPN US       795.6      (15.6)    (301.0)
HANDY & HARMAN L  HNH US        380.4       (0.9)      35.6
HCA HOLDINGS INC  HCA US     23,756.0   (9,062.0)   2,422.0
HUGHES TELEMATIC  HUTCU US       94.0     (111.8)     (39.0)
HUGHES TELEMATIC  HUTC US        94.0     (111.8)     (39.0)
IDENIX PHARM      IDIX US        88.8       (2.3)      54.6
IMPERVA INC       IMPV US        42.5       (6.6)      (5.8)
INCYTE CORP       INCY US       371.2     (181.0)     225.5
IPCS INC          IPCS US       559.2      (33.0)      72.1
ISTA PHARMACEUTI  ISTA US       137.5      (34.8)      (7.5)
JUST ENERGY GROU  JE CN       1,584.2     (242.2)    (215.6)
JUST ENERGY GROU  JSTEF US    1,584.2     (242.2)    (215.6)
LEVEL 3 COMM INC  LVLT US     9,254.0     (523.0)   1,058.0
LIN TV CORP-CL A  TVL US        815.8     (115.0)      56.6
LIZ CLAIBORNE     LIZ US      1,144.0     (420.0)     (97.3)
LORILLARD INC     LO US       3,152.0   (1,174.0)   1,299.0
MAINSTREET EQUIT  MEQ CN        475.2      (10.5)       -
MANNKIND CORP     MNKD US       224.0     (280.8)       9.7
MEAD JOHNSON      MJN US      2,580.0     (144.8)     678.3
MEDIVATION INC    MDVN US       188.3       (3.9)      89.4
MERITOR INC       MTOR US     2,838.0     (963.0)     226.0
MOODY'S CORP      MCO US      2,521.3     (174.2)     525.1
MORGANS HOTEL GR  MHGC US       480.8      (77.2)      (4.1)
NATIONAL CINEMED  NCMI US       807.9     (346.2)      56.6
NEXSTAR BROADC-A  NXST US       582.7     (187.0)      26.2
NPS PHARM INC     NPSP US       237.4      (38.6)     183.5
NYMOX PHARMACEUT  NYMX US         7.6       (5.1)       4.3
OTELCO INC-IDS    OTT-U CN      316.1      (10.1)      22.9
OTELCO INC-IDS    OTT US        316.1      (10.1)      22.9
PALM INC          PALM US     1,007.2       (6.2)     141.7
PDL BIOPHARMA IN  PDLI US       270.5     (243.2)      44.6
PETROALGAE INC    PALG US         5.8      (70.4)     (72.0)
PLAYBOY ENTERP-A  PLA/A US      165.8      (54.4)     (16.9)
PLAYBOY ENTERP-B  PLA US        165.8      (54.4)     (16.9)
PRIMEDIA INC      PRM US        208.0      (91.7)       3.6
PROTECTION ONE    PONE US       562.9      (61.8)      (7.6)
QUALITY DISTRIBU  QLTY US       304.3     (105.9)      44.1
QWEST COMMUNICAT  Q US       16,849.0   (1,560.0)  (2,828.0)
RAPTOR PHARMACEU  RPTP US        20.5      (14.6)     (21.4)
REGAL ENTERTAI-A  RGC US      2,262.0     (555.7)     (25.8)
RENAISSANCE LEA   RLRN US        57.0      (28.2)     (31.4)
RENTECH NITROGEN  RNF US        111.3      (79.5)     (16.0)
REVLON INC-A      REV US      1,081.7     (685.1)     148.6
RSC HOLDINGS INC  RRR US      3,075.9      (50.7)    (199.1)
RURAL/METRO CORP  RURL US       303.7      (92.1)      72.4
SALLY BEAUTY HOL  SBH US      1,725.5     (260.7)     429.3
SINCLAIR BROAD-A  SBGI US     1,563.8     (125.4)      45.7
SINCLAIR BROAD-A  SBTA GR     1,563.8     (125.4)      45.7
SMART TECHNOL-A   SMA CN        514.9       (9.4)     171.8
SMART TECHNOL-A   SMT US        514.9       (9.4)     171.8
SUN COMMUNITIES   SUI US      1,328.6      (72.4)       -
TAUBMAN CENTERS   TCO US      2,518.2     (467.9)       -
THERAVANCE        THRX US       283.3      (59.2)     229.4
TOWN SPORTS INTE  CLUB US       445.1       (3.2)     (30.8)
UNISYS CORP       UIS US      2,566.9     (594.5)     464.7
VECTOR GROUP LTD  VGR US        931.0      (66.7)     252.6
VERISIGN INC      VRSN US     1,657.7     (166.7)     724.5
VERISK ANALYTI-A  VRSK US     1,379.9     (158.9)    (234.2)
VIRGIN MOBILE-A   VM US         307.4     (244.2)    (138.3)
WARNER MUSIC GRO  WMG US      3,583.0     (289.0)    (630.0)
WEIGHT WATCHERS   WTW US      1,086.5     (470.5)    (292.3)
WESTMORELAND COA  WLB US        769.0     (174.4)      (5.9)



                           *********

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

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

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

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

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

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

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

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

                           *********

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

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

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

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

The TCR subscription rate is $775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
Beard at 240/629-3300.


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