TCR_Public/111128.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

           Monday, November 28, 2011, Vol. 15, No. 330

                            Headlines

1023 MAIN: Case Summary & Largest Unsecured Creditor
ARNOW AVENUE: Case Summary & 2 Largest Unsecured Creditors
ACCREDITED MEMBERS: Posts $1.1-Mil. 3rd Quarter Net Loss
ADVANCED MICRO: Fitch Affirms 'B' Long-Term Issuer Default Rating
AEROGROW INTERNATIONAL: Posts $1.0MM Net Loss in Sept. 30 Quarter

ALLEN FAMILY: Committee Okayed to Tap Appraiser for More Work
ALLEN FAMILY: Has Until Feb. 6 to Propose Chapter 11 Plan
ALLIED IRISH: Names David Duffy as Chief Executive Officer
ALLPOINTS WAREHOUSING: Files for Chapter 11 Bankruptcy Protection
ALPINE SECURITIZATION: DBRS Confirms Liquidity Facility at 'BB'

AMERICAN INT'L: Greenberg Sues U.S. Over AIG Takeover
ARCADIA RESOURCES: Forbearance with H.D. Smith Expires Nov. 30
ASHAPURA MINECHEM: Peck Issues Tongue Lashing, Grants Chapter 15
ASSOC. BANC-CORP: Fitch Affirms 'BB' Subordinated Debt Rating
AUTOMOTIVE SERVICES: Case Summary & 20 Largest Unsecured Creditors

AVSTAR AVIATION: Incurs $81,441 Net Loss in Third Quarter
BALDWIN PREPARATORY: Case Summary & 7 Largest Unsecured Creditors
BANKS.COM INC: Posts $967,000 Net Loss in Third Quarter
BEACON POWER: Section 341(a) Meeting Scheduled for Dec. 6
BEACON POWER: Court OKs Miller Wachman as Auditors

BEACON POWER: Employs Potter Anderson as Counsel
BEAZER HOMES: Awards Stock Options to Named Executive Officers
BELMAR, LLC: Case Summary & 4 Largest Unsecured Creditors
BERNARD L. MADOFF: Trustee's Fraud Suit Vs. Mets Headed to Trial
BERNARD L. MADOFF: IRS to Hand Over $326MM in False Taxes

BERNARD L. MADOFF: Trustee Given Jury Trial Against Mets Owners
BIDZ.COM INC: Posts $1.5 Million Net Loss in Third Quarter
BLACK CROW: Sets Dec. 27 Plan Confirmation Hearing
BLUEKNIGHT ENERGY: Swank Capital Owns 10.2% of Series A Shares
BRIGHAM EXPLORATION: Statoil to Make Voluntary Filing with CFIUS

EASTBRIDGE INVESTMENT: Posts $75,022 Net Loss in 3rd Quarter
EVERGREEN ENERGY: Stanhill Withdraws Offer to Purchase K-Fuel
C&D TECHNOLOGIES: Files Amended Schedule 13E-3 with SEC
CANO PETROLEUM: Further Delays Filing of Third Quarter Report
CELL THERAPEUTICS: Registers Add'l 14MM Shares Under Equity Plan

CENTRAL ENERGY: Posts $246,000 Net Loss in Third Quarter
CHEF SOLUTIONS: Sale of Substantially All Assets to RMJV Approved
CHINA SHENGHUO: Posts $502,000 Net Loss in Third Quarter
COMMERCETEL CORP: Posts $775,500 Net Loss in Third Quarter
CONVERTED ORGANICS: Posts $5.9-Mil. Third Quarter Net Loss

CROSS BORDER: To Be Acquired by American Standard
CROW PARTNERS: Court OKs Commercial Properties as Leasing Agents
CUMULUS MEDIA: Crestview Radio Owns 48.4% of Class A Shares
CYCLONE POWER: Posts $738,900 Net Loss in Third Quarter
DEE ALLEN RANDALL: Trustee Taps Fabian for Wells Fargo Lift Stay

DEE ALLEN RANDALL: Trustee Taps Commerce as Real Estate Broker
DEWAAY FINANCIAL: Faces Bankruptcy Amid DBSI Investor Claims
DELTA PETROLEUM: James Murren Resigns from Board of Directors
DELTATHREE INC: Brian Fitzpatrick Resigns from Board
DOLPHIN DIGITAL: Posts $377,400 Net Loss in Third Quarter

ELBIT VISION: Posts $327,000 Net Income in Third Quarter
EMMIS COMMUNICATIONS: To Buy 1-Mil. Preferred Shares from Alden
ENER1 INC: Obtains $4.5 Million Financing from Bzinfin
ENER1 INC: Bzinfin Discloses 47.3% Equity Stake
ENVISION SOLAR: Posts $1.2 Million Net Loss in Third Quarter

EPAZZ INC: Incurs $120,600 Net Loss in Third Quarter
ESP RESOURCES: Posts $706,100 Net Loss in Third Quarter
EVERGREEN ENERGY: Ilyas Khan Continues to Have 6.6% Equity Stake
FALLS AT TOWNE: Chapter 11 Reorganization Case Dismissed
FRANK PANZA: Two Buildings Set for Auction on Dec. 2

GAME TRADING: To Pursue Financial Reorganization
GAME TRADING: Hires Marc Weinsweig as Chief Restructuring Officer
GAMETECH INT'L: Court OKs $500,000 Settlement in LBHI Case
GENCORP INC: Repurchases $46.4MM of 2.25% Convertible Debenture
GARFIELD TAYLOR: Faces SEC Charges on Ponzi Scheme

GENERAL MARITIME: Final Hearing on $75MM DIP Loan Set for Dec. 15
GENERAL MARITIME: Court Okays Garden City as Claims Agent
GENERAL MARITIME: Schedules Filing Deadline Moved to Dec. 31
GREENHOUSE HOLDINGS: Posts $1.6 Million 3rd Quarter Net Loss
GRACEWAY PHARMACEUTICALS: Gets Formal Nod to Sell to Medicis

GRUBB & ELLIS: Forward Management Discloses 11.4% Equity Stake
GRYPHON GOLD: Posts $804,400 Net Loss in Third Quarter
GULF STATES: Voluntary Chapter 11 Case Summary
HOLDINGS OF EVANS: Creditor Wants Plan Filing Extension Denied
IBIO INC: Reports $383,100 Net Income in June 30 Quarter

ILLINOIS FAMILY: Case Summary & 20 Largest Unsecured Creditors
INDIANA EQUITY: Court Sets Dec. 30, 2011 as Claims Bar Date
INFRAX SYSTEMS: Posts $1.3 Million Net Loss in Sept. 30 Quarter
INTEGRATED FIN'L: Sues State Over Renewal of Broker License
JEMANYA CORP: Wants Involuntary Case Dismissed as Bad Faith Filing

KENT SWIG: Investment Partner Seeks Control of Ventures
KH FUNDING: Court Approves RE/MAX Allegiance as Listing Agents
KEYON COMMUNICATIONS: Posts $1.9-Mil. 3rd Qtr. Net Loss
KINGSBURY CORP: Court OKs TrueNorth as Committee's Advisors
LA CORTEZ ENERGY: Reports $89,700 Net Income in Third Quarter

LENNAR CORP: Fitch Assigns 'BB+' Rating to Proposed Offering
LOAN EXCHANGE: U.S. Trustee Seeks Dismissal or Conversion of Case
LODGENET INTERACTIVE: Mast Capital Discloses 9.6% Equity Stake
LOEHMANN'S HOLDINGS: Strikes Settlement of Wage-And-Hour Action
LOS ANGELES DODGERS: Fox Sports Wants Chapter 11 Case Dismissed

LOS ANGELES DODGERS: Committee Opposes "Long" Plan Extension
MAJESTIC CAPITAL: A.M. Best Downgrades FSR to 'C-'
MARITIME COMMS: Files Schedules of Assets and Liabilities
MARKETING WORLDWIDE: James Davis Resigns as CFO
MEDYTOX SOLUTIONS: Reports $820,400 Net Income in 3rd Quarter

METAL STORM: Shareholders Meeting Set for Dec. 8
MISCOR GROUP: Reports $351,000 Net Income in Third Quarter
MONEYGRAM INT'L: Inks 6th Supplemental Indenture with DBTCA
MONEYGRAM INT'L: Closes Secondary Offering of 9.2 Million Shares
MONTANA ELECTRIC: Has Chapter 11 Trustee and Cash Use

MOORE SORRENTO: Hearing Exclusivity Extensions Set for Dec. 13
MOUNTAIN NATIONAL: Enters Into Written Consent with FRB
MONEYGRAM INT'L: New Form of Restricted Stock Unit Award Okayed
MUSCLEPHARM CORP: Authorized Common Shares Hiked to 750 Million
NORTHWEST G.F. MUTUAL: A.M. Best Downgrades FSR to 'B-'

POSITIVEID CORPORATION: Posts $6.3-Mil. 3rd Qtr. Net Loss
PREMIER TRAILER: DIP Loan Termination Date Extended Until Today
PROBE MANUFACTURING: Reports $39,638 3rd Quarter Net Income
QUALTEQ INC: Authorized to Pay $1.9-Mil. to Critical Vendors
QUICK MED: Enters Into Exclusive License Agreement with Biosara

RADAR PICTURES: Owner Accuses Ex-Associates of Takeover Plot
RICCO INC: Smith & Assoc. Drops Motion to Back Out as Accountant
RICHMOND YACHT: Case Summary & 6 Largest Unsecured Creditors
ROBERT W HUNT: Case Summary & 6 Largest Unsecured Creditors
ROBINO-BAY COURT: Hearing on Case Dismissal Plea Set for Dec. 6

ROUND TABLE: Wants Until Dec. 31 to Solicit Plan Acceptances
RUDERMAN CAPITAL: Spider-Man Settles Ponzi-Funded Poker Games Suit
RUSSELL 150: Reaches Deal With Interested Parties
SAGAMORE PARTNERS: U.S. Trustee Unable to Form Committee
SAGAMORE PARTNERS: Meland Russin OK'd to Handle Chapter 11 Case

SANUWAVE HEALTH: Posts $2.1 Million Net Loss in Third Quarter
SEARCHMEDIA HOLDINGS: Phillip Frost Owns 5.3MM Ordinary Shares
SEQUENOM INC: Files form S-3, Registers $150 Million of Securities
SHALAN ENTERPRISES: Files Disclosure Statement for Joint Plan
SOLYNDRA LLC: Proposes Piece-by-Piece Auction on Jan. 23

SP NEWSPRINT: Meeting to Form Creditors Committee Today
SSI GROUP: LNC Ventures Wins Bankruptcy Auction
STONE GROUND: Files for Chapter 11 Bankruptcy as Owners Squabble
STONEHEALTH RE: Fitch Withdraws 'BB+' Rating on Preff. Securities
SUSPECT DETECTION: Posts $656,300 Net Loss in Third Quarter

TEARLAB CORP: Reports $1.1 Million Net Income in 2011 3rd Quarter
TEN SAINTS: Bank Objects to Hiring of Susan Hernst as Appraiser
TENET HEALTHCARE: Completes Private Offering of 6.25% Sr. Notes
TRAILER BRIDGE: Posts $1.9 Million Net Loss in Third Quarter
TRAVELPORT HOLDINGS: Judge Dismisses 4 Counts in Antitrust Case

TTC PLAZA: Taps Jack N. Fuerst & Assoc. as General Counsel
TTC PLAZA: U.S. Trustee Unable to Form Committee
TTC PLAZA: Jack N. Fuerst Approved as Ch. 11 Trustee's Counsel
TURKPOWER CORP: Inks Binding Term Sheet to Merge with ACM
U-SWIRL INC: Posts $71,600 Net Loss in Third Quarter

UNIVERSITY GENERAL: Reports $1.1-Mil. Net Income in 3rd Quarter
VIRGIN OFFSHORE: Ch. 11 Trustee Wants Clarification on Counsel Fee
VOICESERVE INC: Posts $36,100 Net Loss in Sept. 30 Quarter
WATERFORD PLACE: Case Summary & 4 Largest Unsecured Creditors
WAVE SYSTEMS: Registers Add'l 5MM Class A Shares Under Plan

WEST END: Can Use Northlight Cash Collateral Until Jan. 31
WS MINERAL: Disclosure Statement in Support of Plan Approved
XTREME GREEN: Posts $635,900 Net Loss in Third Quarter
YRC WORLDWIDE: Marc Lasry Discloses 9.5% Equity Stake

* Starwood Property Prepares for Fire Sales in Europe
* Amherst Securities Raises Concerns Over C-III CMBS Workout
* FDIC Says Number of U.S. Banks in Distress Continues to Decline

* Bankruptcy Judge Says CDO Creditors Can Vote on Rival Plans
* U.S. Regulators to Publish Results Of Big Bank 'Stress Tests'
* Hamid Soleimanian Gives Legal Assistance for Bankruptcy Filing

* BOND PRICING -- For Week From Nov. 21 to 25, 2011



                            *********

1023 MAIN: Case Summary & Largest Unsecured Creditor
----------------------------------------------------
Debtor: 1023 Main Street, LLC
        1023 Main Street
        Paterson, NJ 07503

Bankruptcy Case No.: 11-43736

Chapter 11 Petition Date: November 23, 2011

Court: U.S. Bankruptcy Court
       District of New Jersey (Newark)

Judge: Rosemary Gambardella

Debtor's Counsel: Leonard S. Singer, Esq.
                  ZAZELLA & SINGER
                  48 Mountain View Boulevard, P.O. Box 737
                  Wayne, NJ 07474-0737
                  Tel: (973) 696-1700
                  Fax: (973) 696-3228
                  E-mail: zandsattys@aol.com

Estimated Assets: $0 to $50,000

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

The petition was signed by Asiyat Aral.

The Company?s list of its largest unsecured creditors filed with
the petition contains only one entry:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Valley National Bank               --                   $1,479,044
Attn: Strasser & Associates, P.C.
7 East Ridgewood Avenue
Paramus, NJ 07652


ARNOW AVENUE: Case Summary & 2 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Arnow Avenue Development, LLC
        1906 Arnow Avenue
        Bronx, NY 10469

Bankruptcy Case No.: 11-15430

Chapter 11 Petition Date: November 23, 2011

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

Judge: Allan L. Gropper

Debtor's Counsel: Avrum J. Rosen, Esq.
                  THE LAW OFFICES OF AVRUM J. ROSEN, PLLC
                  38 New Street
                  Huntington, NY 11743
                  Tel: (631) 423-8527
                  Fax: (631) 423-4536
                  E-mail: ajrlaw@aol.com

Scheduled Assets: $555,800

Scheduled Debts: $4,649,857

The Company?s list of its two largest unsecured creditors filed
with the petition is available for free at:
http://bankrupt.com/misc/nysb11-15430.pdf

The petition was signed by Eddie Sachar, managing member.


ACCREDITED MEMBERS: Posts $1.1-Mil. 3rd Quarter Net Loss
--------------------------------------------------------
Accredited Members Holding Corporation filed its quarterly report
on Form 10-Q, reporting a net loss of $1.1 million on $476,640 of
revenue for the three months ended Sept. 30, 2011, compared with a
net loss $244,463 on $706,180 of revenue for the same period last
year.

The Company reported a net loss of $2.1 million on $1.5 million of
revenue for the nine months ended Sept. 30, 2011, compared with a
net loss of $962,489 on $1.7 million of revenue for the same
period of 2010.

The Company's balance sheet at Sept. 30, 2011, showed $3.6 million
in total assets, $2.2 million in total liabilities, and
stockholders' equity of $1.4 million.

As reported in the TCR on April 12, 2011, GHP Horwath, P.C., in
Denver, expressed substantial doubt about Accredited Members
Holding's ability to continue as a going concern, following the
Company's 2010 results.  The independent auditors noted that the
Company reported a net loss of approximately $2,600,000 and used
net cash in operating activities of approximately $2,100,000 in
2010, and has an accumulated deficit of approximately $4,200,000
at Dec. 31, 2010.

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

                       http://is.gd/ICQNLe

                    About Accredited Members

Accredited Members Holding Corporation currently provides various
services and products through its subsidiary corporations
Accredited Members, Inc. ("AMI"), AMHC Managed Services ("AMMS")
and World Wide Premium Packers, Inc. ("WWPP").

AMI provides a range of services that are primarily intended for
sophisticated investors interested in micro-cap and development
stage companies as well as early stage companies seeking to
increase general market awareness of their operations and business
plans.

WWPP was formed on Feb. 14, 2010, for the purpose of procuring,
processing, and marketing premium meats and related products.
Although WWPP hopes to be able to sell premium meat products on a
retail level, it has not taken any definitive steps with retailers
or others to place and sell its products and there can be no
assurance that WWPP will ever be able to sell its products on a
retail level.

AMHC Managed Services provides management services to third
parties, including services typically provided by executive level
personnel on a fixed-contract basis.


ADVANCED MICRO: Fitch Affirms 'B' Long-Term Issuer Default Rating
-----------------------------------------------------------------
Fitch Ratings has affirmed the following ratings for Advanced
Micro Devices Inc. (NYSE: AMD):

  -- Long-term Issuer Default Rating (IDR) at 'B';
  -- Senior unsecured debt at 'B+/RR3'.

The Rating Outlook is Positive. Fitch's actions affect
approximately $2 billion of total debt.

The Positive Outlook incorporates the potential for:

    i) Consistent annual free cash flow;
   ii) Ongoing debt reduction from free cash flow; and
  iii) Meaningful diversification of AMD's foundry partners.

Fitch believes annual free cash flow will range from breakeven to
$500 million through most semiconductor cycles, driven by AMD's
fables manufacturing model and lower break-even profitability
level from historical restructuring.  Fitch estimates free cash
flow exceeded $300 million for the latest 12 months (LTM) ended
Oct. 1, 2011 and $350 million in fiscal 2010 versus significant
historical cash usage.

Consistent free cash flow will enable AMD to continue reducing
debt, since the company guided that it will deleverage the balance
sheet in order to strengthen its credit profile.  AMD reduced the
face value of its debt by approximately $150 million though open
market repurchases of its convertible notes due 2015 during the
quarter ended Oct. 1, 2011.

Fitch estimates the company will have adequate cash available to
meaningfully reduce debt by repaying $485 million of convertible
notes maturing in August 2012.  The company guided that it wants
to maintain $1.5 billion of cash on the balance sheet.  However,
with approximately $1.8 billion of available cash as of Oct. 1,
2011 and aforementioned expectations for free cash flow, Fitch
believes cash balances could approach $2 billion by August 2012.

Fitch believes the company's diversification of foundry partners
essential to improving AMD's ability to keep pace with Intel
Corporation's (Intel) migrations to next generation technology
nodes.  GLOBALFOUDRIES (GF) currently manufactures the majority of
AMD's microprocessors, including the company's accelerated
processing units (APU), but GF's manufacturing missteps during the
third quarter constrained AMD's supply of mobility APUs.  However,
AMD's expansion of its partnership with Taiwan Semiconductor
Manufacturing Corp. (TSMC) and qualifications with other foundries
should provide AMD with second source suppliers.

Fitch believes AMD's revenue growth will be constrained by slowing
unit demand in mature markets, cannibalization by media tablets,
and Fitch's expectations for intensifying pricing pressures
heading into 2012.  Positively, AMD should benefit from robust
growth in emerging markets, particularly China, where the company
has higher market share.  AMD's new APU products, particularly in
mobility markets, command higher average selling prices (ASP) and
should provide some support to revenue levels.

Profitability has improved, but Fitch anticipates operating
profitability will remain in the break-even to upper single digit
range, depending upon highly cyclical revenue levels.
AMD recently announced another round of restructuring, which
should lower annual operating expenses by $115 million beginning
in 2012.  At the same time, AMD's operating leverage remains
substantial with research and development (R&D) critical to next
generation technology and product development and gross margins
largely a function of product mix.

Credit protection measures remain solid for the rating, albeit
within a cyclical context. Fitch estimates total leverage (total
debt to operating EBITDA) for the LTM ended Oct. 1, 2011 was
approximately 2.6 times (x) and should remain in the 2x-8x range,
versus significantly higher levels historically.  Interest
coverage (operating EBITDA to interest expense) remains near 5x
versus well below 1x historically.

Negative actions could occur if AMD uses significant amounts of
cash despite lower capital intensity.  Fitch believes these
actions likely would be the result of: i) meaningfully weaker than
anticipated adoption of AMD's APUs; or ii) drawn out execution
missteps by foundry partners.

As of Oct. 1, 2011, Fitch believes AMD's liquidity is sufficient
and supported by $1.8 billion of cash and cash equivalents.  The
company has no revolving credit facility (RCF) and recently wound
down its receivables sales facility with IBM.  Fitch's expectation
for annual free cash flow of up to $500 million also supports the
company's liquidity.  The ratings incorporate the company meeting
at least the majority of its upcoming $485 million convertible
note maturing in 2012 with available cash.

Total debt was approximately $2.1 billion as of Oct. 1, 2011 and
consisted of:

  -- $485 million of 5.75% senior unsecured convertible notes due
     2012;
  -- $630 million of 6% senior unsecured convertible notes due
     2015;
  -- $500 million of 8.125% senior unsecured convertible notes due
     2017;
  -- $500 million of 7.75% senior unsecured convertible notes due
     2020; and
  -- $31 million of capital leases.

AMD's Recovery Ratings (RRs) reflect Fitch's belief that the
company would be reorganized rather than liquidated in a
bankruptcy scenario.  This is given Fitch's estimates that AMD's
reorganization value of approximately $1.5 billion exceeds a
projected liquidation value.  Furthermore, Fitch believes AMD's
role as a credible viable alternative microprocessor supplier to
Intel also supports reorganization rather than liquidation of AMD
in a bankruptcy scenario.  To arrive at a reorganization value,
Fitch assumes a 5x reorganization multiple, and applies it to its
estimate of distressed operating EBITDA of $290 million, which
covers estimated annual fixed charges, resulting in an adjusted
reorganization value of $1.3 billion after subtracting
administrative claims.

Based upon these assumptions, Fitch estimates recovery for the
estimated $2.1 billion of senior unsecured debt has increased to
51%-70%, resulting in Recovery Ratings of 'RR3'.


AEROGROW INTERNATIONAL: Posts $1.0MM Net Loss in Sept. 30 Quarter
-----------------------------------------------------------------
AeroGrow International, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $1.0 million on $1.5 million of
product sales for the three months ended Sept. 30, 2011, compared
with a net loss of $2.1 million on $1.4 million of product sales
for the three months ended Sept. 30, 2010.

The Company reported a net loss of $2.6 million on $3.0 million of
product sales for the six months ended Sept. 30, 2011, compared
with a net loss of $3.9 million on $3.2 million for the six months
ended Sept. 30, 2010.

The Company's balance sheet at Sept. 30, 2011, showed $4.5 million
in total assets, $8.8 million in total liabilities, and a
stockholders' deficit of $4.3 million.

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

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

                       http://is.gd/54zcwn

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


ALLEN FAMILY: Committee Okayed to Tap Appraiser for More Work
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
the Official Committee of Unsecured Creditors in the Chapter 11
cases of Allen Family Foods, Inc., et al., to expand the scope of
retention of Appraisal Economics, Inc., as its appraiser.

As reported in the Troubled Company Reporter on Nov. 8, 2011, the
Committee sought to expand the scope of retention to analyze the
impact of economic obsolescence on its appraisal of the fixed
assets -- certain of the Debtors' assets upon which MidAtlantic
Farm Credit, ACA, for itself and as the agent/nominee for the
lenders who made senior prepetition secured loans to the Debtors,
does not have valid and perfected liens, which are located in
Delaware, Maryland, and North Carolina; to aid in determining what
portion of the sale proceeds should be allocated to the fixed
assets.

The expanded scope of services to be provided by Appraisal
Economics in these cases include, but are not limited to:

   a) analysis of historical and current economic conditions of
the domestic poultry industry including industry-wide capacity
utilization, feed prices, wholesale poultry prices, consumption,
and profitability;

   b) development of the amount of economic obsolescence inherent
in the industry that impacts the market value of certain assets
used in the industry;

   c) conclude the appropriate rate of economic obsolescence
present in the poultry industry and application of economic
obsolescence to certain personal property and real property of the
Debtors; and

   d) preparation of a fully documented valuation report, which
will describe the analysis, methodology, procedures employed, and
conclusions of value.

The Committee will pay Appraisal Economics (a) $10,000 for
the economic obsolescence analysis that it will provide, which
includes reimbursement of actual and necessary out-of-pocket
expenses incurred by Appraisal Economics as a result of the
appraisal; plus (b) any additional fees.

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

                     About Allen Family Foods

Allen Family Foods Inc. is a 92-year-old Seaford, Del., poultry
company.  Allen Family Foods and two affiliates, Allen's Hatchery
Inc. and JCR Enterprises Inc., filed for Chapter 11 bankruptcy
protection (Bankr. D. Del. Case No. 11-11764) on June 9, 2011.
Allen estimated assets and liabilities between $50 million and
$100 million in its petition.

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

Roberta DeAngelis, U.S. Trustee for Region 3, appointed seven
creditors to serve on an Official Committee of Unsecured Creditors
in the Debtors' cases.  Lowenstein Sandler PC and Womble Carlyle
Sandridge & Rice, PLLC, serve as counsel for the committee.  J.H.
Cohn LLP serves as the Committee's financial advisor.


ALLEN FAMILY: Has Until Feb. 6 to Propose Chapter 11 Plan
---------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware extended
Allen Family Foods, Inc., et al.'s exclusive periods to file and
solicit acceptances for a proposed Chapter 11 plan or plans until
Feb. 6, 2012, and April 4, respectively.

As reported in the Troubled Company Reporter on Oct. 13, 2011,
Sean T. Greecher, Esq., at Young, Conaway, Stargatt & Taylor, in
Wilmington, Delaware, said an extension is warranted, noting that
the sale of the Debtors' assets has just recently closed.  He
states that now that the closing has occurred, the Debtors have
turned their attention to analyzing the claims that are being
filed against the estates and will, in consultation with the
Committee, determine the most efficient means for bringing the
cases to a conclusion.

                    About Allen Family Foods

Allen Family Foods Inc. is a 92-year-old Seaford, Del., poultry
company.  Allen Family Foods and two affiliates, Allen's Hatchery
Inc. and JCR Enterprises Inc., filed for Chapter 11 bankruptcy
protection (Bankr. D. Del. Case No. 11-11764) on June 9, 2011.
Allen estimated assets and liabilities between $50 million and
$100 million in its petition.

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

Roberta DeAngelis, U.S. Trustee for Region 3, appointed seven
creditors to serve on an Official Committee of Unsecured Creditors
in the Debtors' cases.  Lowenstein Sandler PC and Womble Carlyle
Sandridge & Rice, PLLC, serve as counsel for the committee.  J.H.
Cohn LLP serves as the Committee's financial advisor.

The TCR reported on July 29, 2011, the Debtor won the bankruptcy
judge's approval to sell its assets to a U.S. affiliate of Korean
poultry producer Harim Co. Ltd.  The sale was approved despite
creditors' questions about the administrative solvency of the
case.  The purchase price was $48 million.


ALLIED IRISH: Names David Duffy as Chief Executive Officer
----------------------------------------------------------
Allied Irish Banks, p.l.c., appointed David Duffy as its Chief
Executive Officer.

Mr. Duffy, aged 50, has held a number of senior roles in the
international banking industry including, most recently, the
position of CEO at Standard Bank International.  He was previously
President and CEO, Americas, ING Barings.

He attended Terenure College and is a graduate of Trinity College
Dublin.

Mr. Duffy will take up his post in AIB in December 2011.  His
remuneration package will be in line with Government guidelines.

Commenting on Mr. Duffy's appointment, AIB's Executive Chairman,
David Hodgkinson said, "The Board of AIB is delighted to welcome
David to the organisation.  He brings with him a wealth of
international experience and a sound knowledge of the local
market.  He also has a proven track record in successfully
managing banks through challenging times.  He is ideally suited to
the task of leading AIB's extensive restructuring and delivering
the business performance that will best serve its customers and
return the bank to sustainable viability.  We look forward to
working with him and wish him every success."

Mr. Hodgkinson will remain on the Board of AIB in the role of non-
executive Chairman.

                  About Allied Irish Banks, p.l.c.

Allied Irish Banks, p.l.c. -- http://www.aibgroup.com/-- is a
major commercial bank based in Ireland.  It has an extensive
branch network across the country, a head office in Dublin and a
capital markets operation based in the International Financial
Services Centre in Dublin.  AIB also has retail and corporate
businesses in the UK, offices in Europe and a subsidiary company
in the Isle of Man and Jersey (Channel Islands).

Since the onset of the global and Irish financial crisis, AIB's
relationship with the Irish Government has changed significantly.

As at Dec. 31, 2010, the Government, through the National Pension
Reserve Fund Commission ("NPRFC"), held 49.9% of the ordinary
shares of the Company (the share of the voting rights at
shareholders' general meetings), 10,489,899,564 convertible non-
voting ("CNV") shares and 3.5 billion 2009 Preference Shares.  On
April 8, 2011, the NPRFC converted the total outstanding amount of
CNV shares into 10,489,899,564 ordinary shares of AIB, thereby
increasing its holding to 92.8% of the ordinary share capital.

In addition to its shareholders' interests, the Government's
relationship with AIB is reflected through formal and informal
oversight by the Minister and the Department of Finance and the
Central Bank of Ireland, representation on the Board of Directors
(three non-executive directors are Government nominees),
participation in NAMA, and otherwise.

As reported by the TCR on May 31, 2011, KPMG, in Dublin, Ireland,
noted that there are a number of material economic, political and
market risks and uncertainties that impact the Irish banking
system, including the Company's continued ability to access
funding from the Eurosystem and the Irish Central Bank to meet its
liquidity requirements, that raise substantial doubt about the
Company's ability to continue as a going concern.

The Company reported a net loss of EUR10.16 billion on
EUR1.84 billion of interest income for 2010, compared with a net
loss of EUR2.33 billion on $2.87 billion of interest income for
2009.

The Company's balance sheet at June 30, 2011, showed
EUR126.87 billion in total assets, EUR120.01 billion in total
liabilities, and EUR6.86 billion in total shareholders' equity
including non-controlling interests.


ALLPOINTS WAREHOUSING: Files for Chapter 11 Bankruptcy Protection
-----------------------------------------------------------------
Michael Sasso at The Tampa Tribune reports that Alan Bridges filed
for Chapter 11 bankruptcy protection on Nov. 21, 2011, in Tampa,
Florida, both personally and on behalf of his business, Allpoints
Warehousing Equipment Co., a private machinery and equipment
merchant wholesaler doing business as Got Rack and Got-Rack.com.

The report relates that Mr. Bridges was forced to seek bankruptcy
because his business' loans from Regions Bank had matured and he
wasn't able to refinance them.  The bank had filed a foreclosure
lawsuit against Allpoints Warehousing last year and says it is
owed at least $5.5 million.

Allpoints Warehousing estimated $1 million to $10 million in both
assets and debts in its petition.  According to the report,
Mr. Bridges' company often purchased shelving when, say, a home
improvement store closed. It then would cut the shelving and
resell it at a discount.  The company's sales were about $9
million in 2004, Mr. Bridges said.


ALPINE SECURITIZATION: DBRS Confirms Liquidity Facility at 'BB'
---------------------------------------------------------------
DBRS, Inc. (DBRS) has confirmed the rating of R-1 (high) (sf) for
the Commercial Paper (CP) issued by Alpine Securitization Corp.
(Alpine), an asset-backed commercial paper (ABCP) vehicle
administered by Credit Suisse, New York branch.  In addition, DBRS
has confirmed the ratings and revised the tranche sizes of the
aggregate liquidity facilities (the Liquidity) provided to Alpine
by Credit Suisse.

The $7,758,998,398 aggregate liquidity facilities are tranched as:

  -- $7,448,166,715 rated AAA (sf)
  -- $65,620,177 rated AA (sf)
  -- $32,207,602 rated A (sf)
  -- $52,140,469 rated BBB (sf)
  -- $45,249,703 rated BB (sf)
  -- $50,554,996 rated B (sf)
  -- $65,058,736 unrated (sf)

The ratings are based on July 31, 2011 data.

The CP rating reflects the AAA credit quality of Alpine's asset
portfolio.  The updated credit quality aspect of the CP rating is
based on both the portfolio of assets and the available program-
wide credit enhancement (PWCE).  The rationale for the CP rating
is based on the updated AAA credit quality assessment as well as
DBRS' prior and ongoing review of legal, operational and liquidity
risks associated with Alpine's overall risk profile.

The ratings assigned to the Liquidity reflect the credit quality
of Alpine's asset portfolio based on an analysis that assesses
each transaction to a term standard.  The tranching of the
Liquidity reflects the credit risk of the portfolio at each rating
level.  The tranche sizes are expected to vary each month based on
changes in portfolio composition.

For Alpine, both the CP and the Liquidity ratings use DBRS'
simulation methodology, which was developed to analyze diverse
ABCP conduit portfolios.  This analysis uses the DBRS CDO Toolbox
simulation model, with adjustments to reflect the unique structure
of an ABCP conduit and its underlying assets.  DBRS determines
attachment points for risk based on an analysis of the portfolio
and models the portfolio based on key inputs such as asset
ratings, asset tenors and recovery rates.  The attachment points
determine the portion of the exposure rated AAA, AA, A through B
as well as unrated.

DBRS models the portfolio on an ongoing basis to reflect changes
in Alpine's portfolio composition and credit quality.  The rating
results are updated and posted on the DBRS website.

The principal methodology is the Asset-Backed Commercial Paper
Criteria Report: U.S. & European ABCP Conduits, which can be found
on DBRS' website under Methodologies.


AMERICAN INT'L: Greenberg Sues U.S. Over AIG Takeover
-----------------------------------------------------
American Bankruptcy Institute reports that Maurice R. Greenberg,
the former chief executive of the American International Group,
sued the U.S. Treasury and the Federal Reserve Bank of New York
last week, contending that their takeover of the insurer in the
fall of 2008 was improper and that the Fed breached its duty to
AIG shareholders when it unwound the company's disastrous bets on
mortgage securities.

                           About AIG

American International Group, Inc. -- http://www.aig.com/-- is an
international insurance organization with operations in more than
130 countries and jurisdictions.  AIG companies serve commercial,
institutional and individual customers through one of the most
extensive worldwide property-casualty networks of any insurer. In
addition, AIG companies are leading providers of life insurance
and retirement services around the world.  AIG common stock is
listed on the New York Stock Exchange, as well as the stock
exchanges in Ireland and Tokyo.

At the height of the 2008 financial crisis, AIG experienced a
liquidity crunch when its credit ratings were downgraded below
"AA" levels by Standard & Poor's, Moody's Investors Service and
Fitch Ratings.  AIG almost collapsed under the weight of bad bets
it made insuring mortgage-backed securities.  The Company,
however, was bailed out by the Federal Reserve, but even after an
initial infusion of $85 billion, losses continued to grow.  The
later rescue packages brought the total to $182 billion, making it
the biggest federal bailout in U.S. history.  AIG sold off a
number of its businesses and other assets to pay down loans
received from the U.S. government.


ARCADIA RESOURCES: Forbearance with H.D. Smith Expires Nov. 30
--------------------------------------------------------------
PrairieStone Pharmacy, LLC, and Arcadia Resources, Inc., entered
into a Forbearance Agreement with H. D. Smith Wholesale Drug Co.

Effective Nov. 18, 2011, PrairieStone, the Company and HD Smith
entered into the First Amendment to the Forbearance Agreement.
The Amendment extends the expiration of the Forbearance Period
until the earlier of (a) Nov. 30, 2011, or (b) two business days
following the receipt of notification from the prospective
purchasers that they no longer intend to pursue a potential sale
transaction to purchase the assets of PrairieStone.  All other
terms and conditions of the Agreement were not changed and remain
in full force and effect.

                      About Arcadia HealthCare

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

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

The Company also reported a net loss of $5.98 million on $40.86
million of revenue for the six-month period ended Sept. 30, 2011,
compared with a net loss of $6.93 million on $41.29 million of
revenue for the same period during the prior year.

The Company's balance sheet at Sept. 30, 2011, showed
$23.69 million in total assets, $49.52 million in total
liabilities, and a $25.82 million total stockholders' deficit.

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

                        Bankruptcy Warning

The Company continues to generate negative cash flows on a
consolidated basis.  As of Sept. 30, 2011, the Company has $42.3
million of outstanding debt, of which $37.8 million is due in or
before April 2012.  As of Sept. 30, 2011, 193 million of the 300
million authorized shares of common stock were outstanding.  The
Company's stock price as of Sept. 30, 2011, was $0.025.  The
Company has received notices of default from its two secured
lenders, Comerica Bank and HD Smith.  The Company intends to sell
or wind down its Pharmacy segment operations and is analyzing the
various alternatives for its Services segment, which includes the
divestiture of the business.  If these sale transactions are
consummated, it is highly unlikely that proceeds from these
transactions will be adequate to pay down all of the secured debt
and a significant portion of the unsecured debt.  Additionally, it
is possible that issues of liquidity or other factors could cause
the Company to file a petition for relief under the United States
Bankruptcy Code or initiate other reorganization proceedings.


ASHAPURA MINECHEM: Peck Issues Tongue Lashing, Grants Chapter 15
----------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Ashapura Minechem Ltd. won Chapter 15 protection from
creditors in the U.S. after receiving a dressing down from U.S.
Bankruptcy Judge James M. Peck for "a strategic error of colossal
portions."  Judge Peck, in New York, said that the Chapter 15
filing in early October was the "latest example" of "coordinated
efforts" by the company and its managing directors indicating that
they "are not acting in good faith."

According to the report, Ashapura resorted to Chapter 15 to
forestall collection in the U.S. of more than $100 million in
judgments handed down in arbitrations commenced in London by two
shippers.  For reasons not explained to Judge Peck, the company
decided not to oppose the arbitrations.

The report relates that Judge Peck said the company filed in
Chapter 15 "to avoid the consequences of its own failure to deal
with the arbitrations in a commercially reasonable manner."
Regardless of the company's blunders, Judge Peck said the question
turned on whether previously filed reorganization proceedings in
India qualified as a collective administrative proceeding
entitling the company to Chapter 15 protection.  Judge Peck
recited how the law in India governing the proceedings had been
revoked by the legislature after being criticized as "deficient"
and "subject to abuse."  Even though revoked, the law is still
being followed in India, Peck said.

According to the report, Judge Peck heard testimony on procedures
in India and granted Chapter 15 protection after concluding it
provides for creditor protection and afforded a right of appeal.
The judge nonetheless is requiring the company to make reports
every two months.  He kept the door open for creditors to show
that the Indian proceedings "in actual practice are prejudicing"
their rights.

Judge Peck also "strongly encourages the parties to stop posturing
and start talking to each other in a manner that may lead to a
compromise of the objectors' claims."

The shippers who won the judgments and opposed relief in Chapter
15 are Armada (Singapore) Pte Ltd. and Eitzen Bulk A/S.

                          About Ashapura

Ashapura Minechem Ltd. is an industrial company incorporated
under the provisions of the Companies Act 1956, having its
registered office in Mumbai, India.  It is listed with the Bombay
Stock Exchange and National Stock Exchange of India, Ltd.  It is
engaged in the business of mining, processing and trading
minerals and ores, namely: Bentonite, a versatile clay having
applications in foundries, iron ore pellatization, oil well
drilling and civil engineering; Bauxite, the principal ore used
for manufacturing alumina which is in turn used to produce
Aluminum metal; Barytes, a clay with high specific gravity and is
mainly used in oil well drilling; Iron ore, the principal ore for
manufacturing steel.

Ashapura is also engaged in the manufacturing of value added
Bentonite for advanced applications for usage in paper, cosmetic
and edible oil industries.  The company also offers to arrange
for logistical support for transportation and shipping of
minerals which it sells to its customers.

Chetan Shah, as foreign representative of Ashapura, filed a
petition for protection under Chapter 15 of the U.S. Bankruptcy
Code (Bankr. S.D.N.Y. Case No. 11-14668) on Oct. 4, 2011.
Attorney for the foreign representative is Ira A. Reid, Esq., at
Baker & McKenzie LLP.  The Chapter 15 petition estimated the
Debtor's assets and debts to be between $100 million and
$500 million.  It owes $70.1 million to secured lenders.
Unsecured claims, not including the arbitration awards, total
$29 million.


ASSOC. BANC-CORP: Fitch Affirms 'BB' Subordinated Debt Rating
-------------------------------------------------------------
Fitch Ratings has affirmed the long- and short-term Issuer Default
Ratings (IDRs) for Associated Banc-Corp (ASBC) at 'BBB-/F3'.  The
Rating Outlook is Stable.

The affirmation is supported by continued expected improvement in
ASBC's asset quality metrics.  ASBC's non-performing assets (NPAs)
as a percentage of gross loans plus other real estate owned (OREO)
was 4.13% as of Sept. 30, 2011, down from 4.76% at June 30, 2011
and 5.00% at March 31, 2011.  Similarly, net-charge-offs (NCOs)
have declined over the course of the year, and as of the quarter
ending Sept. 30, 2011 amounted to 0.90% on an annualized basis.

Fitch's action is further supported by the maintenance ASBC's good
capitalization levels while the company was able to repurchase its
$525m of TARP shares in two parts over the course of the past
year.  This was facilitated by two issuances of senior unsecured
debt over the course of the year that collectively amounted to
$430 million, as well as a preferred issuance of $65 million.

The Rating Outlook is stable, because notwithstanding the
increased indebtedness from the TARP repayment, ASBC's tangible
common equity (TCE) ratio increased to 8.77%, up from 8.49% at
June 30, 2011 due to continued profitability.  Fitch Core Capital
amounted to $1.66 billion at Sept. 30, 2011, or 7.95% of tangible
assets.  Fitch further notes that ASBC's capitalization levels are
generally inline with similarly rated entities, which further
supports the Stable Outlook.

Over the course of the last year, ASBC has improved its
profitability primarily through lower provision expense.  Net
interest income over the last few quarters has been relatively
stable as has non-interest income.  Expenses have been up and down
over the last few quarters, but the efficiency ratio is still on
the higher side relative to similarly rated entities at 71.89% as
of Sept. 30 2011.

Going forward ASBC's main challenge and focus will be to drive
additional loan growth, which is not unlike the current focus of
most other banks.  To this end, ASBC has had some success in
growing gross loans which increased to $13.5 billion as of 3Q'11,
up 3% from the sequential quarter.  The growth was primarily due
to more commercial and industrial (C&I) loans, non-owner occupied
commercial real estate loans, and residential mortgage loans.

Fitch notes that given slower growth profile of ASBC's upper
Midwestern footprint, the company is looking to grow loans in some
adjacent areas such as Chicago, Cincinnati, and Indianapolis.
Given the current overall level of elevated competition to provide
loans to creditworthy customers, coupled with ASBC's relative
newness to some of its markets, Fitch would be concerned if growth
were to accelerate for a sustained period above industrywide
trends.

Fitch views ASBC's ratings to be at the lower end of their
potential range.  Fitch notes that should the company be able to
measurably improve core earnings power over a sustained number of
quarters while maintaining capital ratios at or above similarly
rated entities, there could be some upside to current ratings.
Although not anticipated, ratings could be negatively impacted
should asset quality trends reverse course and significantly
deteriorate.

ASBC is a $21.9 billion regional bank with a large presence in
Wisconsin, Illinois, and Minnesota.  It offers consumer and
commercial banking services, trust and investment management
services, insurance, and mortgage banking products.

Fitch has affirmed the following ratings:

Associated Banc-Corp

  -- Long-term IDR at 'BBB-';
  -- Senior unsecured debt at 'BBB-';
  -- Viability at 'bbb-';
  -- Subordinated debt at 'BB+'
  -- Preferred stock at 'BB';
  -- Short-term IDR at 'F3';
  -- Commercial Paper at 'F3';
  -- Individual at 'C';
  -- Support affirmed at '5';
  -- Support floor affirmed at 'NF'.

Associated Bank, N.A.

  -- Long-term IDR at 'BBB-';
  -- Viability at 'bbb-';
  -- Long-term deposits at 'BBB';
  -- Long-term senior debt at 'BBB-';
  -- Short-term IDR at 'F3';
  -- Individual at 'C';
  -- Short-term deposits at 'F2';
  -- Support affirmed at '5';
  -- Support floor affirmed at 'NF'.

Associated Trust Company, N.A.

  -- Long-term IDR at 'BBB-';
  -- Viability at 'bbb-';
  -- Short-term IDR at 'F3';
  -- Individual at 'C';
  -- Support affirmed at '5';
  -- Support floor affirmed at 'NF'.

ASBC Capital I

  -- Preferred stock at 'BB'.

The Rating Outlook is Stable.


AUTOMOTIVE SERVICES: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Automotive Services of North America, Inc.
          dba Tune Up Plus
              Harris Tire
        634 Prosperity Way
        Chesapeake, VA 23320

Bankruptcy Case No.: 11-75219

Chapter 11 Petition Date: November 23, 2011

Court: U.S. Bankruptcy Court
       Eastern District of Virginia (Norfolk)

Judge: Stephen C. St. John

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

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

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

The Company?s list of its 20 largest unsecured creditors filed
with the petition is available for free at:
http://bankrupt.com/misc/vaeb11-75219.pdf

The petition was signed by Timothy Terrell, president.


AVSTAR AVIATION: Incurs $81,441 Net Loss in Third Quarter
---------------------------------------------------------
Avstar Aviation Group, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $81,441 on $521,153 of total revenue for the three
months ended Sept. 30, 2011, compared with a net loss of $256,657
on $516,893 of total revenue for the same period during the prior
year.

The Company also reported a net loss of $80,502 on $1.75 million
of total revenue for the nine months ended Sept. 30, 2011,
compared with a net loss of $1 million on $1.12 million of total
revenue for the same period during the prior year.

The Company's balance sheet at Sept. 30, 2011, showed
$1.20 million in total assets, $2.03 million in total liabilities,
and a $831,648 total stockholders' deficit.

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

                        http://is.gd/CJ43Cn

                       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.

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.


BALDWIN PREPARATORY: Case Summary & 7 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Baldwin Preparatory School, Inc.
        200 Castlewood Drive
        North Palm Beach, FL 33408

Bankruptcy Case No.: 11-42389

Chapter 11 Petition Date: November 23, 2011

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

Judge: Paul G. Hyman Jr.

Debtor's Counsel: Aaron A. Wernick, Esq.
                  SHAPIRO, BLASI, WASSERMAN & GORA, P.A.
                  7777 Glades Rd. # 400
                  Boca Raton, FL 33434
                  Tel: (561) 477-7800
                  Fax: (561) 477-7722
                  E-mail: awernick@sbwlawfirm.com

Scheduled Assets: $1,147,016

Scheduled Debts: $2,198,322

A list of the Company's seven largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/flsb11-42389.pdf

The petition was signed by Gena Baldwin, secretary.


BANKS.COM INC: Posts $967,000 Net Loss in Third Quarter
-------------------------------------------------------
Banks.com, Inc., reported a net loss of $967,000 on $613,000 of
revenues for the three months ended Sept. 30, 2011, compared with
a net loss of $565,000 on $1.4 million of revenues for the
corresponding period in 2010.

The Company reported a net loss of $1.2 million on $4.0 million of
revenues for the nine months ended Sept. 30, 2011, compared with a
net loss of $499,000 on $8.5 million of revenues for the same
period last year.

The Company's balance sheet at Sept. 30, 2011, showed
$11.3 million in total assets, $1.7 million in total liabilities,
and stockholders' equity of $9.6 million.

"We have an on-going need to raise additional capital to support
our operations, which historically we have done primarily through
internally generated funds, debt financing, and the use of our
line of credit, when available," the Company said in the filing.

"In the current financial and economic environment and the current
operating environment for our Internet advertising business and
related results, it is uncertain whether we can obtain additional
funding through our traditional sources of capital.  These factors
raise substantial doubt about our ability to continue as a going
concern."

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

                       http://is.gd/ttyotj

San Francisco, Calif.-based Banks.com, Inc., owns and operates
finance related Internet media properties including: banks.com,
irs.com, filelater.com and mystockfund.com.  Through banks.com,
the Company provides access to current financial content,
including financial news, business articles, interest-rate tables,
stock quotes, stock tracking and financial calculators.  The
Company also provides users access to tax related financial
services including online tax preparation through irs.com and
online tax extensions through filelater.com, as well as online
stock brokerage services through mystockfund.com.


BEACON POWER: Section 341(a) Meeting Scheduled for Dec. 6
---------------------------------------------------------
The U.S. Trustee for Region 3 will convene a meeting of creditors
of Beacon Power Corporation on Dec. 6, 2011, at 1:00 p.m. (Eastern
Time).  The meeting will be held at J. Caleb Boggs Federal
Building, 844 North King Street, 2nd Floor, Room 5209, Wilmington,
Delaware.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

                        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: Court OKs Miller Wachman as Auditors
--------------------------------------------------
The Beacon Power Corporation sought and obtained permission from
the U.S. Bankruptcy Court for the District of Delaware to employ
Miller Wachman, LLP as auditors.

The Debtor has engaged Miller Wachman to review and audit the
Debtor's consolidated balance sheets as of Sept. 30, 2011, and the
related consolidated statements of operations, stockholders'
equity and cash flows.

Steven Gunzberger, accountant of Miller Wachman, LLP, attests that
the firm is a "disinterested person," as that term is defined in
Section 101(14) of the Bankruptcy Code.

The customary hourly rates, subject to periodical adjustments,
charged by Miller Wachman professionals anticipated to be assigned
to these cases are $60 to $260.

                        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: Employs Potter Anderson as Counsel
------------------------------------------------
Beacon Power Corporation sought and obtained permission from the
U.S. Bankruptcy Court for the District of Delaware to employ
Potter Anderson & Corroon LLP as counsel.

Upon retention, the firm will, among other things:

   a. take all necessary action to protect and preserve the
      estates of the Debtors, including the prosecution of actions
      on the Debtors' behalf, the negotiation of disputes in which
      the Debtors is involved, and the preparation of objections
      to claims filed against the Debtor's estates;

   b. provide legal advice with respect to the Debtors' powers and
      duties as debtors in possession as the Debtors' powers and
      duties move forward with these bankruptcy cases; and

   c. negotiate, prepare, and pursue a plan and disclosure
      statement and the approval of the same.

Jeremy W. Ryan, a partner at Potter Anderson & Corroon LLP,
attests that the firm is a "disinterested person," as that term is
defined in Section 101(14) of the Bankruptcy Code.

                       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.

Epiq Solutions LLC acts as the official claims, noticing and
balloting agent. CRG Partners Group LLC acts as financial
advisors.

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: Awards Stock Options to Named Executive Officers
--------------------------------------------------------------
Allan P. Merrill, Robert L. Salomon and Kenneth F. Khoury, the
named executive officers of Beazer Homes USA, Inc., were awarded
291,320, 101,960 and 101,960, respectively, of stock options to
purchase Beazer Homes USA, Inc.'s common stock under the Company's
2010 Equity Incentive Plan.  Stock Options vest ratably over a
three-year period on each of the first, second and third
anniversaries of the grant date.  The closing price of the
Company's common stock on the New York Stock Exchange on the
Effective Date was $2.16.

In addition, effective Nov. 16, 2011, Messrs. Merrill, Salomon and
Khoury were awarded 291,320, 101,960 and 101,960, respectively, of
performance-based restricted stock under the Plan.  Performance
Shares are subject to a three-year performance period starting on
Nov. 16, 2011, and ending on Nov. 16, 2014.  Each Performance
Share represents a contingent right to receive one share of the
Company's common stock if vesting is satisfied.  The number of
Performance Shares that vest at the end of the Performance Period
will depend on the level to which the following two performance
criteria are achieved: (i) the Company's Compound Annual Growth
Rate and (ii) the Company's Total Shareholder Return rank compared
to a peer group of twelve other publicly traded homebuilding
companies.

The aggregate value of Stock Options and Performance Shares
granted to each of the named executive officers is significantly
below the equity grant value that each is entitled to receive
pursuant to his respective employment agreement.  In addition,
Performance Shares will only achieve target value if performance
on the chart above warrants 100% vesting or greater.

                        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."

The Company's balance sheet at Dec. 31, 2010, showed $1.90 billion
in total assets, $1.55 billion in total liabilities and
$349.65 million in stockholders' equity.

                          *     *     *

Beazer carries (i) a 'B-' issuer credit rating, with "stable"
outlook, from Standard & Poor's, (ii) 'Caa1' probability of
default and long term corporate family ratings from Moody's, and
(iii) 'B-' issuer default rating, with stable outlook, from Fitch
Ratings.

Fitch said in November 2010 that the ratings and Outlook for
Beazer reflect the company's healthy liquidity position, improved
capital structure as well as the challenges still facing the
housing market.  Fitch expects existing home sales will decline
7.5% in 2010 and increase 6% in 2011.

S&P said that although Beazer's business and liquidity profiles
have improved, S&P doesn't anticipate raising its ratings on the
company over the next 12 months because S&P expects costs
associated with the company's heavy debt load will weigh on
profitability.

The 'Caa1' corporate family rating, Moody's said in November 2010,
reflects its expectation that Beazer has reduced costs
sufficiently that it will continue to reduce losses in fiscal
2011.  The impairments and other charges are likely to be less
material going forward, given the company's improving gross margin
performance, stabilizing pricing environment, and increasing
absorptions.  However, Moody's expectation is that Beazer's cash
flow performance will weaken in 2011, as the benefits of inventory
liquidation have largely played out.  The ratings also reflect the
company's extended debt maturity profile, improved Moody's-
adjusted debt leverage, and increased net worth position.


BELMAR, LLC: Case Summary & 4 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Belmar, LLC
          dba Belmar Apartments
        P.O. Box 775
        Belvidere, IL 61008

Bankruptcy Case No.: 11-85050

Chapter 11 Petition Date: November 23, 2011

Court: U.S. Bankruptcy Court
       Northern District of Illinois (Rockford)

Judge: Manuel Barbosa

Debtor's Counsel: George P. Hampilos, Esq.
                  HAMPILOS & LANGLEY, LTD.
                  308 West State Street, Suite 210
                  Rockford, IL 61101
                  Tel: (815) 962-0044
                  Fax: (815) 962-6250
                  E-mail: georgehamp@aol.com

Estimated Assets: $0 to $50,000

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

The Company?s list of its four largest unsecured creditors filed
with the petition is available for free at:
http://bankrupt.com/misc/ilnb11-85050.pdf

The petition was signed by Joey Sanfilippo, manager.


BERNARD L. MADOFF: Trustee's Fraud Suit Vs. Mets Headed to Trial
----------------------------------------------------------------
Maria Chutchian at Bankruptcy Law360 reports that a New York
bankruptcy judge on Wednesday agreed to allow the Bernard L.
Madoff Investment Securities LLC trustee's claims seeking to void
allegedly fraudulent transfers to the owners of the New York Mets
go before a jury.

According to Law360, Judge Jed Rakoff said in an order that
trustee Irving Picard has a Seventh Amendment right to a jury
trial on his fraudulent transfer claims and that he did not waive
that right when he commenced the larger Securities Investor
Protection Act proceeding in bankruptcy court.

                      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.


BERNARD L. MADOFF: IRS to Hand Over $326MM in False Taxes
---------------------------------------------------------
Evan Weinberger at Bankruptcy Law360 reports that the Internal
Revenue Service agreed to turn over $326 million that the trustee
liquidating Bernard L. Madoff's investment firm said was used to
mask Mr. Madoff's massive fraud, according to a settlement
agreement filed last week Tuesday.

Law360 relates that Irving H. Picard, the trustee overseeing the
litigation, said Bernard L. Madoff Investment Securities LLC made
a total of $330 million in payments to the IRS claiming that they
were federal income tax withholdings on dividend payments to
foreign account holders, according to a motion filed in New York
bankruptcy court.

                    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.


BERNARD L. MADOFF: Trustee Given Jury Trial Against Mets Owners
---------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the trustee liquidating Bernard L. Madoff Investment
Securities LLC won a victory on Nov. 23 when U.S. District Judge
Jed Rakoff ruled the trustee is entitled to a jury trial in his
fraudulent transfer lawsuit against Fred Wilpon and the owners of
the New York Mets baseball club.

According to the report, the trustee's victory comes after a
string of defeats, including a ruling by Judge Rakoff in September
that the trustee can only sue to recover money the Wilpon group
took out of the Madoff firm with two years of bankruptcy, not six
years as the trustee sought.

Mr. Rochelle notes that Judge Rakoff is yet to make another
critical ruling affecting how much, if anything, the trustee can
recover.  Judge Rakoff is still scheduled to decide whether the
Wilpon group can set off whatever was shown in their account
statements two years before bankruptcy against liability for
receipt of fraudulent transfers.

Mr. Rochelle adds Irving Picard, the Madoff trustee, is also
waiting for Judge Rakoff to decide whether to allow an immediate
appeal to the Court of Appeals from the September ruling limiting
claims to two years.

The report relates that the opening sentence of the Nov. 23
opinion isn't encouraging for the trustee.  Judge Rakoff said the
trial against the Wilpon group is "firmly scheduled for March 19,
2012."

Judge Rakoff, Mr. Rochelle relates, ruled in substance that the
trustee's right to a jury trial on a fraudulent transfer claim was
decided in a 1989 U.S. Supreme Court case called Granfinanciera v.
Nordberg.  The test for jury trial rights first asks whether there
would have been a jury on a similar claim in 18th-century England.
The next question is whether the case is legal or equitable in
nature.   Judge Rakoff cited Granfinanciera as holding that
fraudulent transfer suits are legal in nature and assert private
rights where jury trials are available.   Citing a 1993 case from
the U.S. Court of Appeals in Manhattan called Germain v.
Connecticut State Bank, Judge Rakoff said that merely filing a
proof of claim doesn't waive a jury trial right.  He said a jury
is waived only when the suit is part of the process of determining
the validity or amount of a claim against a bankrupt.  Judge
Rakoff concluded that the Madoff trustee can have a jury decide if
there were fraudulent transfers.  On the trustee's equitable cause
of action to equitably subordinate the Wilpon group's claims,
Judge Rakoff said he would rule on subordination himself when the
jury has decided the fraud issues.

The Wilpon suit in district court is Picard v. Katz,
11-03605, U.S. District Court, Southern District New York
(Manhattan).

                      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.


BIDZ.COM INC: Posts $1.5 Million Net Loss in Third Quarter
----------------------------------------------------------
Bidz.com, Inc., reported a net loss of $1.5 million on
$20.3 million of revenues for the three months ended Sept. 30,
2011, compared with a net loss of $614,000 on $21.8 million of
revenues for the same period in 2010.

The Company reported a net loss of $7.1 million on $65.2 million
of revenues for the nine months ended Sept. 30, 2011, compared
with a net loss of $1.4 million on $75.7 million of revenues for
the same period last year.

The Company's balance sheet at Sept. 30, 2011, showed
$41.5 million in total assets, $18.4 million in current
liabilities, and stockholders' equity of $23.1 million.

"We have been incurring quarterly losses since the first quarter
of 2010 and future uncertainty in our financial performance raises
substantial doubt about our ability to continue as a going
concern," the Company said in the filing.

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

                       http://is.gd/jI0fpJ

Culver City, California-based Bidz.com, Inc., is an online
retailer of jewelry, featuring a live auction format on Bidz.com.


BLACK CROW: Sets Dec. 27 Plan Confirmation Hearing
--------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Black Crow Media Group LLC, a privately-held owner of
22 radio stations, scheduled a Dec. 27 confirmation hearing for
approval of the Chapter 11 reorganization plan when the bankruptcy
judge in Jacksonville, Florida, gave tentative approval to the
disclosure statement on Nov. 22.  Black Crow says the plan
requires approval in a confirmation order before the year's end.
The plan will sell the business to Paul C. Stone, who purchased
the claim of Black Crow's principal antagonist, secured lender
General Electric Capital Corp.

                       About Black Crow

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

Black Crow filed for Chapter 11 protection two days before a
hearing in U.S. district court where GECC was seeking appointment
of a receiver following default on term loans and a revolving
credit.  GECC was owed $38.9 million at the outset of the
reorganization.

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

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

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


BLUEKNIGHT ENERGY: Swank Capital Owns 10.2% of Series A Shares
--------------------------------------------------------------
In separate amended Schedule 13D filings with the U.S. Securities
and Exchange Commission, Swank Capital, L.L.C., and its affiliates
disclosed that they beneficially own 7,205,068 shares of common
units of Blueknight Energy Partners, L.P., representing 27.7% of
the shares outstanding and 3,397,373 shares of Series A Preferred
Units representing 10.2% of the shares outstanding.

As reported by the TCR on Nov. 16, 2011, Swank Capital disclosed
beneficial ownership of 7,086,039 shares of common units
representing 27.3% of the shares outstanding and 3,280,444 shares
of Series A Preferred Units or 9.8% of the shares outstanding.

Full-text copies of the Schedule 13D are available for free at:

                       http://is.gd/HqDmNX
                       http://is.gd/5APK13

                      About Blueknight Energy

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

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

The Company also reported net income of $25.89 million on
$131.12 million of total revenue for the nine months ended
Sept. 30, 2011, compared with a net loss of $10.60 million on
$113.53 million of total revenue for the same period a year ago.

The Company's balance sheet at Sept. 30, 2011, showed
$320.77 million in total assets, $333.23 million in total
liabilities, and a $12.46 million total partners' deficit.


BRIGHAM EXPLORATION: Statoil to Make Voluntary Filing with CFIUS
----------------------------------------------------------------
Statoil ASA and Brigham Exploration Company have decided to make
voluntary filings with the U.S. Committee on Foreign Investment in
the United States in connection with Statoil's previously
announced acquisition of Brigham.  The filing is voluntary and
consistent with Statoil's policy to cooperate with all relevant
governmental authorities in the United States, including CFIUS.
Statoil will pay for shares consistent with the pending tender
offer.  Neither the filing nor completion of the CFIUS review is a
condition to closing of Statoil's pending tender offer for shares
of common stock of Brigham Exploration.  The initial tender offer
is currently scheduled to expire at midnight NYC time on Nov. 30,
2011.

                     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."


EASTBRIDGE INVESTMENT: Posts $75,022 Net Loss in 3rd Quarter
------------------------------------------------------------
EastBridge Investment Group Corporation filed its quarterly report
on Form 10-Q, reporting a net loss of $75,022 on $3,000 of
revenues for the three months ended Sept. 30, 2011, compared with
a net loss of $189,864 on $nil revenue for the same period last
year.

The Company reported a net loss of $744,483 on $31,000 of revenues
for the nine months ended Sept. 30, 2011, compared with a net loss
of $1.5 million on $nil revenue for the same period of 2010.

The Company's balance sheet at Sept. 30, 2011, showed $1.2 million
in total assets, $1.7 million in total liabilities, and a
stockholders' deficit of $521,390.

As reported in the TCR on April 26, 2011, Tarvaran Askelson &
Company, LLP, in Laguna Niguel, California, expressed substantial
doubt about EastBridge Investment Group's ability to continue as a
going concern, following the Company's 2010 results.  The
independent auditors noted that the Company has incurred
significant losses.

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

                       http://is.gd/JqgPXq

Scottsdale, Arizona-based EastBridge Investment Group Corporation
is one of a small group of United States companies solely
concentrated in marketing business consulting services to closely
held, small to mid-size Asian companies that require these
services for expansion.  EastBridge had fourteen clients as of the
date of this filing, that it is assisting in becoming public
companies, reporting pursuant to the Securities Exchange Act of
1934, as amended, in the United States and obtaining listings for
their stock on a U.S. stock exchange or over-the-counter market.
All clients are located in Asia-Pacifica.


EVERGREEN ENERGY: Stanhill Withdraws Offer to Purchase K-Fuel
-------------------------------------------------------------
As previously disclosed on Oct. 4, 2011, Evergreen Energy Inc.
received an unsolicited offer from Stanhill Capital Partners to
purchase the Company's K-Fuel process and technology business.
Shortly thereafter, a Special Committee of the Board of Directors
was formed to evaluate the Stanhill offer as well as explore the
range of other strategic alternatives which may be available to
the Company.  Among other things, the Special Committee, directly
and through its financial and legal advisors, was engaged in an
active and continual dialogue with Stanhill in connection with
their offer to acquire the K-Fuel Business or, in the alternative,
all of the Company's outstanding shares of capital stock.  On

Nov. 22, 2011, Stanhill unexpectedly informed the Company that it
was withdrawing its offer and terminating further discussions in
connection with any potential transaction for the K-Fuel Business
or the share capital of the company.  The Special Committee and
its financial advisor, Dahlman Rose & Company, LLC, are continuing
to evaluate strategic alternatives for Evergreen.  To date, this
process has identified several parties that have expressed
interest in exploring a potential transaction with the Company.
There can be no assurance that any of these parties will make an
offer to acquire the K-Fuel Business or that any such offer will
be on terms satisfactory to the Special Committee.

                       About Evergreen Energy

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

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

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

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


C&D TECHNOLOGIES: Files Amended Schedule 13E-3 with SEC
-------------------------------------------------------
C&D Technologies, Inc., filed with the U.S. Securities and
Exchange Commission Amendment No. 1 to Schedule 13E-3 relating to
the anticipated merger involving the Company, Angel Holdings LLC,
and Angel Acquisition Corp.

Upon completion of the Merger, each share of common stock of C&D
issued and outstanding immediately prior to the effective time of
the Merger, except for Shares (i) held by stockholders who are
entitled to demand and who properly demand appraisal for such
shares under Section 262 of the General Corporation Law of the
State of Delaware and (ii) owned by C&D as treasury stock or by
Acquiror, Merger Sub, the Angelo Gordon Entities or any wholly
owned subsidiary of C&D, will be canceled and converted
automatically into the right to receive $9.75 in cash,
without interest and less any required withholding taxes.

Acting upon the recommendation of a special committee of
independent, disinterested directors of C&D, C&D's board of
directors determined that the Merger Agreement and the
transactions contemplated thereby are fair to, and in the best
interests of, the stockholders of C&D, other than the Angelo
Gordon Entities, approved and declared advisable the Merger
Agreement and recommended that C&D's stockholders adopt the
Merger Agreement.

The adoption of the Merger Agreement by C&D's stockholders
required the affirmative vote or written consent of the holders of
a majority of the Shares.  On Oct. 3, 2011, the Angelo Gordon
Entities, which on that date collectively owned approximately 65%
of the outstanding Shares, delivered a written consent adopting
the Merger Agreement.  As a result, no further action by any C&D
stockholder is required to adopt the Merger Agreement and C&D has
not and will not be soliciting your vote to adopt the Merger
Agreement and does not intend to call a stockholders meeting for
purposes of voting on the adoption of the Merger Agreement.

A full-text copy of the Amended Schedule 13E-3 is available for
free at http://is.gd/Qe1tRv

                       About C&D Technologies

C&D Technologies, Inc., is a manufacturer, marketer and
distributor of electrical power storage systems for the standby
power storage market.  The Company makes lead acid batteries and
standby power systems that integrate lead acid batteries with
other electronic components, which are used to provide backup or
standby power for electrical equipment in the event of power loss
from the primary power source.

The Company reported a net loss of $55.55 million on
$354.83 million of net sales for the fiscal year ended Jan. 31,
2011, compared with a net loss of $25.78 million on
$335.71 million of net sales during the prior fiscal year.

The Company's balance sheet at July 31, 2011, showed
$251.29 million in total assets, $156.23 million in total
liabilities, and $95.05 million in total equity.

C&D Technologies in December 2010 escaped a bankruptcy filing
after completing an out-of-court restructuring that reduced the
Company's total debt from approximately $175 million to
$50 million.  The Company in September had entered into a
restructuring support agreement with noteholders to a
restructuring that will be effected through (i) an offer to
exchange the Company's outstanding notes for up to 95% of the
Company's common stock, or (ii) a prepackaged plan of
reorganization under Chapter 11 of the U.S. Bankruptcy Code, if
the exchange offer fails to get the requisite support.  C&D
Technologies elected not to make a semi-annual interest
payment due on its 5.25% Convertible Senior Notes due 2025 on
Nov. 1, 2010.


CANO PETROLEUM: Further Delays Filing of Third Quarter Report
-------------------------------------------------------------
Cano Petroleum, Inc., said that it is unable to file its quarterly
report on Form 10-Q for the quarter ended Sept. 30, 2011, within
the five day extended period afforded to it pursuant to the
Notification of Late Filing on Form 12b-25 that it filed with the
Securities and Exchange Commission on Nov. 15, 2011.  Cano is
delayed in filing its quarterly report because the turnover and
replacement of its prior accounting and administrative staff and
training its new accounting and administrative staff require
additional time for Cano to prepare and review the filing.  Cano
estimates that it will file its quarterly report on or about
Nov. 30, 2011.

                       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.


CELL THERAPEUTICS: Registers Add'l 14MM Shares Under Equity Plan
----------------------------------------------------------------
Cell Therapeutics, Inc., filed with the U.S. Securities and
Exchange Commission a Form S-8 registration statement to register
14 million shares of common stock issuable under the Company's
2007 Equity Incentive Plan.  The proposed maximum aggregate
offering price is $15.26 million.  A full-text copy of the filing
is available for free at http://is.gd/QusyzF

                       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 ENERGY: Posts $246,000 Net Loss in Third Quarter
--------------------------------------------------------
Central Energy Partners LP filed its quarterly report on Form
10-Q, reporting a net loss of $246,000 on $1.8 million of revenues
for the three months ended Sept. 30, 2011, compared with a net
loss of $790,000 on $1.6 million of revenues for the same period
last year.

The Company reported a net loss of $1.1 million on $5.3 million of
revenues for the nine ended Sept. 30, 2011, compared with net
income of $689,000 on $4.7 million of revenues for the same period
of 2010.

The Company's balance sheet at Sept. 30, 2011, showed $9.3 million
in total assets, $8.1 million in total liabilities, and partners'
capital of $1.2 million.

              Going Concern Doubt/Bankruptcy Warning

Central had a consolidated operating loss from continuing
operations for the years ended Dec. 31, 2008, 2009, and 2010 and
the nine months ended Sept. 30, 2011, and has a consolidated
deficit in working capital of approximately $3,500,000 at
Sept. 30, 2011.  The RZB Note is collateralized by all Regional
assets and a pledge of the common stock of Regional to RZB by
Central.  In addition, Central is contingently liable for late
filing penalties for failure to timely file tax returns for the
2008 and 2009 tax years and for contingencies associated with the
TransMontaigne transaction.

"Substantially all of Central's assets are pledged or committed to
be pledged as collateral on the RZB Note, and therefore, it is
unlikely that Central will be able to obtain additional financing
collateralized by those assets," the Company said in the filing.

"If additional amounts cannot be raised and cash flow is
inadequate, Central would be required to seek other alternatives,
which could include the sale of assets, closure of operations
and/or protection under the U.S. bankruptcy laws."

As reported in the TCR on April 26, 2011, Burton McCumber &
Cortez, L.L.P., in Brownsville, Texas, expressed substantial doubt
about Central Energy Partners' ability to continue as a going
concern, following the Company's 2010 results.  The independent
auditors noted that the Company had a loss from operations for the
years ended Dec. 31, 2008, 2009, and 2010, and has a deficit in
working capital.

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

                       http://is.gd/hxHCQz

Dallas, Tex.-based Central Energy Partners, L.P., formerly known
as Rio Vista Energy Partners L.P. (OTC: ENGY) is a master limited
partnership engaged in the storage and transportation of oil and
gas, refined petroleum products and petrochemicals.  The Company
currently provides liquid bulk storage, trans-loading and
transportation services for petrochemicals and petroleum products
through its assets and operations in Hopewell, Virginia and
Johnson City, Tennessee.


CHEF SOLUTIONS: Sale of Substantially All Assets to RMJV Approved
-----------------------------------------------------------------
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware has entered an order approving the sale of substantially
all of the assets of Chef Solutions Inc. to RMJV, L.P., a joint
venture between Mistral Capital Management LLC and Reser's Fine
Foods Inc.

On the Closing Date, pursuant to the Asset Purchase Agreement, the
net proceeds of the Sale will be remitted directly by purchaser to
the DIP Lenders and Prepetition Lenders all obligations to them
have been indefeasibly paid in full in cash, and then to repay the
Reser's DIP, prior to payment or repayment of any other claims,
interests or obligations of the Debtors.

As reported in the Troubled Company Reporter on Nov. 16, 2011,
Judge Kevin Gross approved food manufacturer Orval Kent Food Co.'s
bankruptcy sale, valued at $61.7 million, which will put the
Midwest company under ownership of its lender Mistral Capital and
competitor Reser's Fine Foods.  Judge Gross signed off on the sale
at a court hearing after no other bids emerged for the prepared
foods company and an auction was canceled.

                       About Chef Solutions

Chef Solutions Inc., through subsidiary Orval Kent Food, is the
second largest manufacturer in North America of fresh prepared
foods for retail, foodservice and commercial channels.

Chef Solutions and its affiliates filed for Chapter 11 protection
(Bankr. D. Del. Case No. 11-13139) on Oct. 4, 2011, with the aim
of selling the business to a joint venture between Mistral Capital
Management LLC and Reser's Fine Foods Inc.  Debtor Orval Kent Food
Company disclosed $82,902,336 in assets and $126,085,311 in
liabilities in its schedules.

Judge Kevin Gross presides over the case.  Lawyers at Richards,
Layton & Finger, P.A., serve as the Debtors' bankruptcy counsel.
Donlin Recano is the claims and notice agent.  Piper Jaffray & Co.
has been hired as investment banker.  PricewaterhouseCoopers
serves as financial advisor.

A joint venture between Mistral Capital Management LLC and Reser's
Fine Foods Inc. has signed a contract to buy the business for
$36.4 million in cash and $25.3 million in secured debt.  The deal
is subject to higher and better offers.

Lowenstein Sandler PC and Polsinelli Shughart serve as counsel to
the creditors' committee appointed in the case.  Mesirow Financial
Consulting, LLC, is the financial advisor


CHINA SHENGHUO: Posts $502,000 Net Loss in Third Quarter
--------------------------------------------------------
China Shenghuo Pharmaceutical Holdings, Inc., filed its quarterly
report on Form 10-Q, reporting a net loss of $502,099 on
$10.9 million of sales for the three months ended Sept. 30, 2011,
compared with net income of $830,238 on $8.6 million of sales for
the comparable period in 2010.

The Company reported a net loss of $311,008 on $31.2 million of
sales for the nine months ended Sept. 30, 2011, compared with net
income of $793,133 on $23.3 million of sales for the same period
last year.

The Company's balance sheet at Sept. 30, 2011, showed
$53.6 million in total assets, $51.8 million in total liabilities,
and stockholders' equity of $1.8 million.

"In the nine months ended Sept. 30, 2011, the Company suffered a
net loss [attributable to stockholders] of $302,756 due to
increase of raw materials' price from 2010, the increase of
research and development expense, interest expense and less
subsidy income," the Company said in the filing.

"Our consolidated current liabilities exceeded consolidated
current assets by approximately $23.2 million as of Sept. 30,
2011, and approximately $15.3 million as of Dec. 31, 2010.  These
factors raise substantial doubt about the Company's ability to
continue as a going concern."

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

                       http://is.gd/QG1Bwy

Incorporated in Delaware, China Shenghuo Pharmaceutical Holdings,
Inc. (NYSE Alternext US: KUN) through its subsidiaries, designs,
develops, markets, sells and exports pharmaceutical, nutritional
supplements, cosmetic products, and also engages in the hotel
operating business mainly in the People's Republic of China.  The
Company also conducts research and development using the medicinal
herb Panax notoginseng, also known as Sanqi, Sanchi, or Tienchi,
which is grown in two provinces in the PRC.


COMMERCETEL CORP: Posts $775,500 Net Loss in Third Quarter
----------------------------------------------------------
CommerceTel Corporation filed its quarterly report on Form 10-Q,
reporting a net loss of $775,578 on $842,885 of revenues for the
three months ended Sept. 30, 2011, compared with a net loss of
$313,348 on $254,274 of revenues for the same period last year.

Net other income for the quarter ended Sept. 30, 2011, was
$38,186, inclusive of $48,459 in derivative related income from a
reduction in adjusting the derivative liability related to the
Phoenix Power warrant.  This compares to a net other loss of
$541,183 for the three months ended Sept. 30, 2010, inclusive of a
derivative related loss attributable to an increase in the
derivative liability conversion feature for the Series A Preferred
Stock of $541,255 and income of $10,281 from a reduction in the
derivative liability related to the Phoenix warrant.

The Company reported a net loss of $2.0 million on $1.5 million of
revenues for the nine months ended Sept. 30, 2011, compared with a
net loss of $771,813 on $683,096 of revenues for the same period
of 2010.

In the nine months ending Sept. 30, 2011, the Company recognized a
non-cash loss attributable to an increase in derivative
liabilities from warrants of $602,299 and a non-cash loss from
derivative liability convertibility feature of the Series A
Preferred stock of $19,771,086.  Conversely, in the same nine
month period in 2010, the Company recognized non-cash income
attributable to a decrease in derivative liabilities from warrants
of $191,475 and non-cash income from Series A Preferred stock of
$2,238,206.  The Company converted and retired the Series A
Preferred stock in May 2011, and therefore, will not incur
derivative expenses or income from this source in the future.

The Company's balance sheet at Sept. 30, 2011, showed $8.4 million
in total assets, $6.6 million in total liabilities, and
stockholders' equity of $1.8 million.

Mayer Hoffman McCann, in San Diego, expressed substantial doubt
about CommerceTel's ability to continue as a going concern,
following the Company's 2010 results.  The independent auditors
noted that the Company has incurred recurring operating losses and
negative cash flows from operations and is dependent on additional
financing to fund operations.

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

                       http://is.gd/OyGsDT

Based in San Diego, California, CommerceTel Corporation is a
provider of technology that enables major brands and enterprises
to engage consumers via their mobile phone.


CONVERTED ORGANICS: Posts $5.9-Mil. Third Quarter Net Loss
----------------------------------------------------------
Converted Organics Inc. filed its quarterly report on Form 10-Q,
reporting a net loss of $5.9 million on $687,659 of revenues for
the three months ended Sept. 30, 2011, compared with a net loss of
$21.9 million on $808,582 of revenues for the same period in 2010.

The Company reported a net loss of $8.9 million on $2.8 million of
revenues for the nine months ended Sept. 30, 2011, compared with a
net loss of $31.6 million on $2.8 million of revenues for the same
period last year.

The Company's balance sheet at Sept. 30, 2011, showed
$17.2 million in total assets, $11.9 million in total liabilities,
and stockholders' equity of $5.3 million.

As reported in the TCR on April 7, 2011, CCR LLP, in Glastonbury,
Connecticut, expressed substantial doubt about Converted Organics'
ability to continue as a going concern, following the Company's
results for the fiscal year ended Dec. 31, 2010.  The independent
auditors noted that the Company has an accumulated deficit at
Dec. 31, 2010, and has suffered significant net losses and
negative cash flows from operations.

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

                       http://is.gd/I0RaQP

Boston, Mass.-based Converted Organics Inc. utilizes innovative
clean technologies to establish and operate environmentally
friendly businesses.  Converted Organics currently operates in
three business areas, namely organic fertilizer, industrial
wastewater treatment and vertical farming.


CROSS BORDER: To Be Acquired by American Standard
-------------------------------------------------
American Standard Energy Corp. announced the execution of a letter
of intent to acquire New Mexico oil and gas operator Cross Border
Resources, Inc., which provides that American Standard Energy
Corp. has the right to enter into such a transaction with Cross
Border Resources, Inc., between Nov. 22, 2011, and Jan. 31, 2012.

American Standard is an exploration and production company based
in Scottsdale, Ariz., with operated and non-operated properties in
the Permian Basin of West Texas, and non-operated leasehold
interests in the Bakken/Three Forks shale region in North Dakota
and the Eagle Ford shale region of South Texas.

Pursuant to the Proposed Business Combination, Cross Border would
merge with and into a wholly owned subsidiary of the Company, with
such subsidiary continuing as the surviving entity.  American
Standard has the right to alter the structure of the Proposed
Business Combination during the Term.  The consideration payable
to stockholders of Cross Border will be a number of shares of
American Standard's common stock determined within 30 days of the
date of the LOI based on an agreed price for Cross Border and the
relative net asset value of American Standard.

The Proposed Business Combination is subject to the execution and
delivery by American Standard and Cross Border of a mutually
satisfactory, definitive merger agreement containing customary
representations, warranties, covenants, indemnities and closing
conditions.  The anticipated closing date would be on or before
March 31, 2012.

Cross Border and American Standard agreed to use their best
efforts to complete their respective due diligence investigations
by Dec. 31, 2011.  During the Term, American Standard has the
exclusive right to enter into the Proposed Business Combination.
Cross Border agreed that none of it, its officers, directors,
employees, any investment banker, financial adviser, attorney,
accountant or other representative of Cross Border would submit,
solicit, initial, encourage or discuss with third parties any
proposal or offer from any person relating to a transaction
alternative to the Proposed Business Combination.

                   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.


CROW PARTNERS: Court OKs Commercial Properties as Leasing Agents
----------------------------------------------------------------
Crow Partners LLC, and Central Building, LLC, sought and obtained
permission from the U.S. Bankruptcy Court for the District of
Arizona to employ Commercial Properties Incorporated, also known
as J & J Commercial Properties, Inc., to obtain tenants and lease
space at the Camelback & Dysart Shopping Center in Litchfield
Park, Arizona.

The Debtors related that the agreement provides that CPI:

   -- will be the exclusive leasing agent for CBC as it
   relates to Camelback & Dysart;

   -- will receive 6% of the lease consideration in years one
   through five of the agreement;

   -- will receive 3% of the lease consideration in years six
   through ten; and 1% of the lease consideration in year eleven
   and going forward.

In return, CPI will use its commercially reasonable efforts to
find tenants for Camelback & Dysart; will notify CBC of any
submitted offers; will show the property to prospective tenants;
will have the right to place suitable marketing signs at Camelback
& Dysart; and will have the right to make property information
publicly available for the purpose of obtaining tenants.

                        About Central Building

Orinda, California-based Central Building LLC filed for Chapter 11
bankruptcy (Bankr. D. Ariz. Case No. 11-27970) on Oct. 3, 2011.
Its wholly owned subsidiary, Crow Partners LLC, filed a separate
petition (Bankr. D. Ariz. Case No. 11-27946), listing under
$1 million in assets and debts.  The case is jointly administered
with Crow Partners.

Central Building does business in Arizona under the name Central
Building Camelback LLC.  The Debtors own the County Square
Shopping Center in California and the Camelback Place at Dysart in
Arizona.  The Debtors' sole members are Neal Smither and his
spouse, Patricia Smither.  The equity interests are subject to a
Voting Trust Agreement of which G. Neil Elsey, a principal of
Avion Holdings, LLC, is the voting trustee.  Avion has also been
retained as Restructuring Agent to manage and operate the Debtors
during their restructuring.  Central Building disclosed
$22,913,866 in assets and $19,372,542 in liabilities.

Judge George B. Nielsen, Jr. presides over the case.  Lawyers at
Stinson Morrison Hecker LLP in Phoenix, Arizona, serve as the
Debtors' counsel.  The petition was signed by Neal Smither,
member.


CUMULUS MEDIA: Crestview Radio Owns 48.4% of Class A Shares
-----------------------------------------------------------
In an amended Schedule 13D filing with the U.S. Securities and
Exchange Commission, Crestview Radio Investors, LLC, and its
affiliates disclosed that they beneficially own 65,842,051 shares
of Class A common stock of Cumulus Media representing 48.4% of the
shares outstanding.  As previously reported by the TCR on
Sept. 29, 2011, Crestview Radio disclosed beneficial ownership of
63,890,444 shares of Class A common stock or 50.2% equity stake.
A full-text copy of the amended Schedule 13D is available for free
at http://is.gd/RNCT3x

                        About Cumulus Media

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

The Company's balance sheet at 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.

Cumulus Media put AR Broadcasting Holdings Inc. and three other
units to Chapter 11 protection (Bankr. D. Del. Lead Case No.
11-13674) after struggling to pay off debts that topped
$97 million as of June 30, 2011.  Holdings estimated debts between
$50 million and $100 million but said assets are worth less than
$50 million.  AR Broadcasting are Missouri and Texas radio
stations.

                          *     *     *

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

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


CYCLONE POWER: Posts $738,900 Net Loss in Third Quarter
-------------------------------------------------------
Cyclone Power Technologies, Inc., filed its quarterly report on
Form 10-Q, reporting a net loss of $738,901 on $250,000 of
revenues for the three months ended Sept. 30, 2011, compared with
a net loss of $1.0 million on $97,475 for the same period in 2010.

The Company reported a net loss of $23.2 million on $250,000 of
revenues for the nine months ended Sept. 30, 2011, compared with
net income of $447,016 on $202,375 of revenues for the same period
last year.

The Company's balance sheet at Sept. 30, 2011, showed $1.2 million
in total assets, $3.8 million in total liabilities, and a
stockholders' deficit of $2.6 million.

The Company incurred substantial operating losses for the nine
months ended Sept. 30, 2011, of $2.7 million.  The cumulative
deficit since inception is approximately $45.2 million, which is
comprised of $13.8 million attributable to operating losses, and
$31.4 million in non-cash derivative liability accounting.  The
Company has a working capital deficit at Sept. 30, 2011, of
approximately $2.3 million.

"There is no guarantee whether the Company will be able to
generate enough revenue and/or raise capital to support its
operations," the Company said in the filing.  "This raises
substantial doubt about the Company's ability to continue as a
going concern."

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

                       http://is.gd/6rAutH

Pompano Beach, Fla.-based Cyclone Power Technologies, Inc. (Pink
Sheets: CYPW) is a clean-tech engineering company, whose business
is to develop, commercialize and license its patented Rankine
cycle engine technology for applications ranging from renewable
power generation to transportation.  The Company is the successor
entity to the business of Cyclone Technologies LLLP, a limited
liability limited partnership formed in Florida in June 2004.
Cyclone Technologies LLLP was the original developer and
intellectual property holder of the Cyclone engine technology.


DEE ALLEN RANDALL: Trustee Taps Fabian for Wells Fargo Lift Stay
----------------------------------------------------------------
Gil A. Miller, Chapter 11 trustee in the cases of Dee Allen
Randall, et al., asks the U.S. Bankruptcy Court for the District
of Utah for permission to employ Fabian & Clendenin as special
counsel.

As special counsel, Fabian & Clendenin will represent the Trustee
and/or the Debtors, as the case may be, with respect to the two
pending motions for relief from stay filed by Wells Fargo Bank,
N.A., and with respect to other matters which may arise in which
Ray Quinney & Nebeker, P.C., the Trustee's general counsel, may
have a conflict of interest in either the Randall Case or any of
the Debtors' cases.

The firm will be paid for its services on an hourly basis

The Chapter 11 Trustee believes that Fabian & Clendenin does not
hold any interest adverse to any Debtors' estates and will not
represent any person having an interest adverse to any Debtors'
estate.  The Trustee also believes that the firm is a
"disinterested person" as the term is defined in Section 101(14)
of the Bankruptcy Code.

                  About Dee Allen Randall et al.

Dee Allen Randall in Kaysville, Utah, filed for Chapter 11
bankruptcy (Bankr. D. Utah Case No. 10-37546) on Dec. 20, 2010.
Judge R. Kimball Mosier presides over the case, seeking to
forestall creditors while he reorganized his finances.  His
companies include Horizon Mortgage & Investment, Horizon Financial
& Insurance Group and Horizon Auto Funding.  The Debtor won
permission to hire 1 On 1 Legal Services, P.L.L.C. as counsel.

In his petition, Mr. Randall estimated $10 million to $50 million
in assets and $1 million to $10 million in debts.

Mr. Randall claims he was conducting a "legal Ponzi scheme," but
authorities are investigating him for possible violations of the
law in an operation that took in $65 million from 700 or so
investors.

Gil A. Miller was appointed as Chapter 11 trustee for Mr.
Randall's bankruptcy estate.  On Oct. 12, 2011, Mr. Miller placed
Mr. Randall's corporate entities -- Horizon Auto Funding, LLC,
Independent Commercial Lending LLC, Horizon Financial Center I
LLC, Horizon Mortgage and Investment Inc. and Horizon Financial
& Insurance Group Inc. -- in bankruptcy by filing separate
Chapter 11 petitions (Bankr. D. Utah Case Nos. 11-34826, 11-34830,
11-34831, 11-34833 and 11-34834).  Judge Joel T. Marker presides
over the 2010 and 2011 cases.  Michael R. Johnson, Esq., Brent D.
Wride, Esq., and David H. Leigh, Esq. -- mjohnson@rqn.com ,
bwride@rqn.com and dleigh@rqn.com -- at Ray Quinney & Nebeker
P.C., serve as counsel to the Chapter 11 Trustee.  Mr. Miller has
requested for the joint administration of Mr. Randall's and the
corporate Debtors' cases for procedural purposes.


DEE ALLEN RANDALL: Trustee Taps Commerce as Real Estate Broker
--------------------------------------------------------------
Gil A. Miller, Chapter 11 trustee in the cases of Dee Allen
Randall, et al., asks the U.S. Bankruptcy Court for the District
of Utah for permission to employ Commerce Real Estate Solutions as
real estate broker to assist the Trustee and the Debtors in
marketing, selling and entering into similar transactions
regarding 20 separate properties that are owned by the Debtors.

The Trustee proposes that the Debtors' estate pay Commerce upon a
closing of a sale of, or similar transaction regarding, any or all
of the real properties, pursuant to the terms of the Listing
Agreement.  Specifically:

     a) Payment of 6% of the gross sales price or as otherwise
        agreed to in writing by the Owner except if the buyer
        of the Horizon Financial Center building is any of
        these three parties or their principals, successors,
        assigns or affiliates: 1) 4 Life Research, LLC,
        2) Freedom Fast Trac or 3) MBL Financial, LLC, in which
        case the commission will be 4%;

     b) Commissions will be paid through escrow upon the closing
        of sales or exchange transactions; absent an escrow,
        commissions will be paid upon recordation of a deed
        or upon delivery of such deed or other instrument of
        conveyance if recordation is deferred more than one
        month thereafter.  Owner will pay said commissions
        to Broker if during the Listing period: a) the
        Property or any interest therein is sold, transferred
        or conveyed by or through Broker, Owner or any other
        person or entity; or b) a purchaser is procured by
        or through Broker, Owner or any other person or entity
        who is ready, willing and able to purchase the Property
        or any interest therein on the terms stated or other
        terms acceptable to the owner of the property; and

     c) Broker will pay to or credit to the Owner, for the
        benefit of the bankruptcy estate of the Owner, 1% of
        the final gross sales at time of closing of each
        property sold.

The Chapter 11 Trustee believes that Commerce does not hold any
interest adverse to any Debtors' estates and will not represent
any person having an interest adverse to any Debtors' estate.  The
Trustee also believes that the firm is a "disinterested person" as
the term is defined in Section 101(14) of the Bankruptcy Code.

                  About Dee Allen Randall et al.

Dee Allen Randall in Kaysville, Utah, filed for Chapter 11
bankruptcy (Bankr. D. Utah Case No. 10-37546) on Dec. 20, 2010.
Judge R. Kimball Mosier presides over the case, seeking to
forestall creditors while he reorganized his finances.  His
companies include Horizon Mortgage & Investment, Horizon Financial
& Insurance Group and Horizon Auto Funding.  The Debtor won
permission to hire 1 On 1 Legal Services, P.L.L.C. as counsel.

In his petition, Mr. Randall estimated $10 million to $50 million
in assets and $1 million to $10 million in debts.

Mr. Randall claims he was conducting a "legal Ponzi scheme," but
authorities are investigating him for possible violations of the
law in an operation that took in $65 million from 700 or so
investors.

Gil A. Miller was appointed as Chapter 11 trustee for Mr.
Randall's bankruptcy estate.  On Oct. 12, 2011, Mr. Miller placed
Mr. Randall's corporate entities -- Horizon Auto Funding, LLC,
Independent Commercial Lending LLC, Horizon Financial Center I
LLC, Horizon Mortgage and Investment Inc. and Horizon Financial
& Insurance Group Inc. -- in bankruptcy by filing separate
Chapter 11 petitions (Bankr. D. Utah Case Nos. 11-34826, 11-34830,
11-34831, 11-34833 and 11-34834).  Judge Joel T. Marker presides
over the 2010 and 2011 cases.  Michael R. Johnson, Esq., Brent D.
Wride, Esq., and David H. Leigh, Esq. -- mjohnson@rqn.com ,
bwride@rqn.com and dleigh@rqn.com -- at Ray Quinney & Nebeker
P.C., serve as counsel to the Chapter 11 Trustee.  Mr. Miller has
requested for the joint administration of Mr. Randall's and the
corporate Debtors' cases for procedural purposes.


DEWAAY FINANCIAL: Faces Bankruptcy Amid DBSI Investor Claims
------------------------------------------------------------
Financial Advisor magazine reports that lawyers for DeWaay
Financial Network asked a federal judge in Wilmington, Delaware,
for a temporary injunction to prevent eight investor claims
against the company from proceeding to arbitration hearings
conducted by the Financial Industry Regulatory Authority.  If the
investor claims proceed, DeWaay officials said it could
conceivably cost the firm as much as $4 million on total
investments of $2.9 million, according to court papers filed by
the company in federal court in Wilmington, Delaware, in October.

According to the report, DeWaay's financial problems developed
this year from it selling high-risk private placement investments
-- particularly real estate deals for DBSI Inc., an Idaho-based
firm that packaged real estate deals, as well as oil and gas
development deals.

As reported in the Troubled Company Reporter, James R. Zazzali, a
trustee representing the interest of DBSI creditors, lodged a
lawsuit in July 2011 against companies including DeWaay, Berthel
Fisher & Co. Financial Services Inc., Independent Financial Group
LLC, G.A. Repple & Co., Girard Securities Inc. and J.P. Turner &
Co. LLC, alleging they were complicit in a $500 million Ponzi
scheme that landed DBSI in bankruptcy court.

Financial Advisor magazine reports that, with total reported
assets of $3.4 million, broker-dealer DeWaay officials indicated
in court papers its total liability could run as high as $24
million on claims from 590 separate customers who invested $46.3
million in DBSI.

Financial Advisor magazine relates that, in an October 19
memorandum to the Delaware court, DeWaay's attorney Geoffrey
Garner wrote that DeWaay lacks the funds to satisfy current claims
in eight arbitration claims against it, and also to satisfy any
potential claims from the estimated 304 potential customers who
could still bring suit.  If the claims proceed, DeWaay would
likely face bankruptcy.

Financial Advisor magazine says more than 270 additional DeWaay
investors have agreed to allow Mr. Zazzali to pursue claims
against six brokerage firms.  The claims would be tied to a trust
known as the DBSI Private Actions Trust.  DeWaay officials said
its injunction request is part of an overall strategy by the
company to obtain a settlement with the Private Actions Trust that
would permit the company to move forward.

The report adds that DeWaay's October court filing disclosed that
it only has $772,679 in net capital to cover losses.  In its
papers DeWaay officials said the company does carry insurance
coverage, but its policy does not cover any of the pending or
potential claims relating to the defendant's offer and sale of
DBSI securities.

DeWaay Financial Network -- http://www.dewaayfinancial.net/--
operates a brokerage firm in Clive, Iowa.

Headquartered in Meridian, Idaho, DBSI Inc. and its affiliates
were engaged in numerous commercial real estate and non-real
estate projects and businesses.  On Nov. 10, 2008, and other
subsequent dates, DBSI and 180 of its affiliates filed for
Chapter 11 protection (Bankr. D. Del. Lead Case No. 08-12687).
DBSI estimated assets and debts between $100 million and
$500 million as of the Chapter 11 filing.

Lawyers at Young Conaway Stargatt & Taylor LLP represent the
Debtors as counsel.  The Official Committee of Unsecured Creditors
tapped Greenberg Traurig, LLP, as its bankruptcy counsel.
Kurtzman Carson Consultants LLC is the Debtors' notice claims and
balloting agent.

Joshua Hochberg, a former head of the Justice Department fraud
unit, served as an Examiner and called the seller and servicer of
fractional interests in commercial real estate an "elaborate shell
game" that "consistently operated at a loss" in his report
released in October 2009.  McKenna Long & Aldridge LLP was counsel
to the Examiner.

On Sept. 11, 2009, the Honorable Peter J. Walsh entered an Order
appointing James R. Zazzali as Chapter 11 trustee for the Debtors'
estates.  On Oct. 26, 2010, the trustee of DBSI Inc. won court
confirmation of its Chapter 11 plan of liquidation, paving the way
for it to pay creditors and avoid years of expensive litigation
over its complex web of affiliates.  The plan, which was declared
effective Oct. 29, 2010, was jointly proposed by DBSI's unsecured
creditors and the bankruptcy trustee in charge of DBSI and its
170-plus affiliates.

Pursuant to DBSI Inc.'s confirmed Chapter 11 plan, the DBSI Real
Estate Liquidating Trust was established as of the effective date
and certain of the Debtors' assets, including the Debtors'
ownership interest in Florissant Market Place was transferred to
the RE Trust.  Mr. Zazzali and Conrad Myers were appointed as the
post-confirmation trustees.  Messrs. Zazzali and Myers are
represented by lawyers at Blank Rime LLP and Gibbons P.C.


DELTA PETROLEUM: James Murren Resigns from Board of Directors
-------------------------------------------------------------
James J. Murren submitted a letter to Delta Petroleum Corporation
resigning as a director of the Company, effective Nov. 21, 2011.
Mr. Murren did not indicate any disagreement with the Company or
the Board of Directors in connection with his resignation.

                     About Delta Petroleum Corp

Delta Petroleum Corporation -- http://www.deltapetro.com/-- is an
oil and gas exploration and development company based in Denver,
Colorado.  The Company's core area of operation is in the Rocky
Mountain region, where the majority of its proved reserves,
production and long-term growth prospects are located.  Its common
stock is listed on the NASDAQ Capital Market System under the
symbol "DPTR."

The Company reported a net loss of $30.26 million on
$23.05 million of total revenue for the three months ended
March 31, 2011, compared with a net loss of $15.99 million on
$29.17 million of total revenue for the same period during the
prior year.

The Company's balance sheet at June 30, 2011, showed $975.84
million in total assets, $489.14 million in total liabilities,
current and long-term, and $486.70 million in total equity.

As reported by the TCR on March 18, 2011, KPMG LLP, in Denver,
Colorado, noted that due to continued losses and limited borrowing
capacity the Company is evaluating sources of capital to fund the
Company's near term debt obligations.  "There can be no assurances
that actions undertaken will be sufficient to repay obligations
under the credit facility when due, which raises substantial doubt
about the Company's ability to continue as a going concern."

                           *    *     *

In the Nov. 16, 2011, edition of the TCR, Standard & Poor's
Ratings Services lowered its corporate credit rating on Delta
Petroleum Corp. (Delta) to 'CCC-' from 'CCC'.

"The rating action follows Delta's announcement on Nov. 9, 2011,
that the company might need to restructure its debt," said
Standard & Poor's credit analyst Marc D. Bromberg.  According to
the release, a purchase price for Delta's assets could be less
than its total indebtedness.  Delta also said that it has not
found a source of additional financing available at acceptable
terms to the company. The company has appointed a Chief
Restructuring Officer.


DELTATHREE INC: Brian Fitzpatrick Resigns from Board
----------------------------------------------------
Brian Fitzpatrick tendered his resignation as a member of the
Board of Directors, member and chairman of the Compensation
Committee and member of the Audit Committee of deltathree, Inc.
to pursue other opportunities.  The resignation was effective
immediately.  The Company has begun searching for a replacement
for Mr. Fitzpatrick.

                         About deltathree

Based in New York, deltathree, Inc. (OTC QB: DDDC) --
http://www.deltathree.com/-- is a global provider of video and
voice over Internet Protocol (VoIP) telephony services, products,
hosted solutions and infrastructures for service providers,
resellers and direct consumers.

The Company reported a net loss of $2.5 million on $14.2 million
of revenue for 2010, compared with a net loss of $3.2 million on
$19.0 million of revenue for 2009.

The Company also reported a net loss of $2.46 million on
$8.20 million of revenue for the nine months ended Sept. 30, 2011,
compared with a net loss of $2.01 million on $9.98 million of
revenue for the same period during the prior year.

The Company's balance sheet at Sept. 30, 2011, showed
$1.63 million in total assets, $5.47 million in total liabilities
and a $3.84 million total stockholders' deficiency.

As reported in the TCR on March 23, 2011, Brightman Almagor Zohar
& Co., in Tel Aviv, Israel, expressed substantial doubt about
deltathree, Inc.'s ability  to continue as a going concern,
following the Company's 2010 results.  The independent auditors
noted that of the Company's recurring losses from operations and
deficiency in stockholders' equity.

                        Bankruptcy Warning

In view of the Company's current cash resources, nondiscretionary
expenses, debt and near term debt service obligations, the Company
may begin to explore all strategic alternatives available to it,
including, but not limited to, a sale or merger of the Company, a
sale of its assets, recapitalization, partnership, debt or equity
financing, voluntary deregistration of its securities, financial
reorganization, liquidation or ceasing operations.  In the event
that it is unable to secure additional funding, the Company may
determine that it is in its best interests to voluntarily seek
relief under Chapter 11 of the U.S. Bankruptcy Code.  Seeking
relief under the U.S. Bankruptcy Code, even if the Company is able
to emerge quickly from Chapter 11 protection, could have a
material adverse effect on the relationships between the Company
and its existing and potential customers, employees, and others.
Further, if the Company was unable to implement a successful plan
of reorganization, the Company might be forced to liquidate under
Chapter 7 of the U.S. Bankruptcy Code.


DOLPHIN DIGITAL: Posts $377,400 Net Loss in Third Quarter
---------------------------------------------------------
Dolphin Digital Media, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $377,467 on $0 revenues for the
three months ended Sept. 30, 2011, compared with a net loss of
$431,633 on $498 of revenues for the same period in 2010.

The Company reported a net loss of $812,692 on $472,824 of
revenues for the nine months ended Sept. 30, 2011, compared with a
net loss of $2.6 million on $976 of revenues for the same period
last year.

The Company's balance sheet at Sept. 30, 2011, showed $1.2 million
in total assets, $5.1 million in total liabilities, and a
stockholders' deficit of $3.9 million.

RBSM LLP, in New York, expressed substantial doubt about Dolphin
Digital Media's ability to continue as a going concern, following
the Company's results for the fiscal year ended Dec. 31, 2010.
The independent auditors noted that the Company has incurred
significant losses and has capital and working capital
deficiencies.

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

                       http://is.gd/ekAdX8

Coral Gables, Florida-based Dolphin Digital Media, Inc., is
dedicated to the twin causes of online safety for children and
high quality digital entertainment.  By creating and managing
child-friendly social networking websites utilizing state-of the-
art fingerprint identification technology, Dolphin Digital Media,
Inc. has taken an industry-leading position with respect to
internet safety, as well as digital entertainment.


ELBIT VISION: Posts $327,000 Net Income in Third Quarter
--------------------------------------------------------
Elbit Vision Systems Ltd. reported net income of US$327,000 on
US$1.55 million of revenue for the three months ended Sept. 30,
2011, compared with net income of US$34,000 on US$1.11 million of
revenue for the same period during the prior year.

The Company also reported net income of US$859,000 on US$4.23
million of revenue for the nine months ended Sept. 30, 2011,
compared with net income of US$2.42 million on US$2.23 million of
revenue for the same period a year ago.

The Company's balance sheet at Sept. 30 2011, showed US$2.59
million in total assets, US$4.51 million in total liabilities and
a US$1.92 million shareholders' deficit.

Sam Cohen, CEO of EVS commented, "We are certainly pleased and
encouraged by these results which confirm the vision contained in
our business plan.  The consistency of our financial results along
with the launch of our new product line at the ITMA exhibition
last month are evidence of a solid foundation for achieving next
year's goals.  We are confident that our increased efforts in new
product development and marketing will have a materially positive
effect on our 2012 results."

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

                       http://is.gd/2uRqAm

                       About Elbit Vision

Based in Caesarea, Israel, Elbit Vision Systems Ltd. (OTC BB:
EVSNF.OB) offers a broad portfolio of automatic State-of-the-Art
Visual Inspection Systems for both in-line and off-line
applications, and process monitoring systems used to improve
product quality, safety, and increase production efficiency.
Brightman Almagor Zohar & Co., in Tel Aviv, Israel, expressed
substantial doubt about Elbit Vision Systems' ability to continue
as a going concern.  The independent auditors noted that of the
Company's recurring losses from operations and accumulated
deficit.


EMMIS COMMUNICATIONS: To Buy 1-Mil. Preferred Shares from Alden
---------------------------------------------------------------
Emmis Communications Corp. has entered into a securities purchase
agreement with Alden Global Distressed Opportunities Master Fund,
L.P., a holder of its 6.25% Series A Cumulative Convertible
Preferred Stock.  Pursuant to the terms of the agreement, Emmis
will purchase 1,035,925 shares of its Preferred Stock from Alden
at a price of $15.75 per share of Preferred Stock upon the
satisfaction of conditions to closing included in the securities
purchase agreement.  The transaction will settle pursuant to the
terms of a total return swap, the terms of which provide that
until final settlement of these arrangements, the seller agrees to
vote its shares in accordance with the instructions of Emmis.
Alden and Emmis have also entered into a mutual release of any
claims existing between:

   (i) Alden,  certain affiliated entities, Joseph R. Siegelbaum
       and certain other persons, on the one hand; and

  (ii) Emmis, certain affiliated entities, Jeffrey H. Smulyan,
       Emmis' Chief Executive Officer and President, and certain
       entities affiliated with Mr. Smulyan, on the other hand.

The mutual release becomes effective upon the closing of the
purchase of the Preferred Stock pursuant to the total return swap.
Following the transaction, Emmis will have the right to direct the
vote of approximately 56.8% of the outstanding Preferred Stock.
Emmis may enter into additional transactions to purchase its
Preferred Stock in the future.

Including fees and expenses, upon closing of the acquisition,
Emmis will have drawn $28.5 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 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.


ENER1 INC: Obtains $4.5 Million Financing from Bzinfin
------------------------------------------------------
Ener1, Inc., as borrower, entered into a $4,500,000 Loan Agreement
with Bzinfin S.A., as agent, certain investment funds managed by
Goldman Sachs Asset Management, L.P., and Bzinfin, as lenders.
The Loan Agreement provides for a $4,500,000 term loan, which
Ener1 borrowed in full at closing on Nov. 16, 2011.  The term
loan, which matures Dec. 23, 2011, bears interest at LIBOR plus
seven percent per annum.  Ener1's obligations under the Loan
Agreement are secured by all of the present and future assets of
Ener1, subject to certain exceptions, and guaranteed by its
subsidiaries, EnerDel, Inc., EnerFuel, Inc., and NanoEner, Inc.,
which have secured their guarantees with pledges of certain of
their assets.

The Loan Agreement contains certain customary representations and
warranties, as well as affirmative and negative covenants.  The
Loan Agreement is also subject to customary events of default.  If
an event of default arises from certain events of bankruptcy or
insolvency, the obligations imposed under the Loan Agreement shall
immediately terminate and all remaining principal and accrued and
unpaid interest thereon will become immediately due and payable
without further action or notice.

Ener1 may use the proceeds from borrowings under the Loan
Agreement for general working capital and operational expenses of
Ener1 and EnerDel, EnerFuel and NanoEner, including the
disbursement of an intercompany loan from Ener1 to EnerDel, which
intercompany loan would be assigned to the agent for the benefit
of the lenders.  In the event that Ener1 commences a voluntary
pre-negotiated or pre-packaged case under chapter 11 of the United
States Code, Bzinfin will have a right of first offer to provide
Ener1 with a debtor-in-possession credit facility by delivering
notice to Ener1.  Upon delivery of such notice, Bzinfin's
obligation to provide the debtor-in-possession credit facility on
the terms and subject to the conditions set forth in the Loan
Agreement will be binding on Bzinfin, subject to certain
conditions specified in the Loan Agreement.

Bzinfin is an affiliate of Ener1 by virtue of being the beneficial
owner, directly and indirectly through its wholly-owned
subsidiary, Ener1 Group, Inc., of approximately 41% of Ener1's
outstanding common stock as of Sept. 14, 2011.  Bzinfin is
controlled by Boris Zingarevich, who is a director of Ener1.  In
addition, Ener1 entered into a $15,000,000 Line of Credit
Agreement with Bzinfin.  The LOC Agreement was subsequently
amended on Sept. 12, 2011, as described in Ener1's Current Report
on Form 8-K filed with the SEC on Sept. 16, 2011.  Pursuant to the
amendment, among other things, the maturity date for the repayment
of all advances under the LOC Agreement and all unpaid accrued
interest thereon is extended to July 2, 2013, and Ener1 is not
permitted to draw down any additional advances under the LOC
Agreement.  As of Sept. 12, 2011, the outstanding aggregate
principal amount of advances under the LOC Agreement and accrued
and unpaid interest thereon was $11.4 million.

The funds managed by Goldman Sachs Asset Management, L.P., are
holders of $42.6 million aggregate principal amount of Ener1's
outstanding Tranche A 8.25% Senior Notes and Tranche B 8.25%
Senior Notes and warrants to purchase shares of Ener1 common
stock.  Each of the Tranche A and Tranche B Senior Notes are
convertible into shares of Ener1 common stock at a conversion
price of $0.6566 and $2.00 per share, respectively.  As of
Sept. 30, 2011, the GSAM Noteholders own approximately 3.7% of
Ener1's outstanding common stock.

In connection with the Loan Agreement, all of the holders of
Tranche A and Tranche B Senior Notes, including the GSAM
Noteholders, agreed to temporarily forbear from exercising any
remedies with respect to existing breaches of such Notes and
Bzinfin agreed to temporarily forbear from exercising any remedies
with respect to existing breaches of the LOC Agreement.

Notwithstanding the $4,500,000 Loan Agreement, Ener1 continues to
face significant financial and liquidity challenges.  As
previously reported in its Form 12b-25 filed with the SEC on
Nov. 10, 2011, Ener1 is currently exploring its options to address
these challenges, including a potential in-court or out-of-court
restructuring including a reorganization of Ener1's capital
structure.  If Ener1 is not able to address these challenges, it
may not be able to continue as a going concern.

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

                        http://is.gd/HWqTgy

                            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.


ENER1 INC: Bzinfin Discloses 47.3% Equity Stake
-----------------------------------------------
In an amended Schedule 13D filing with the U.S. Securities and
Exchange Commission, Boris Zingarevich and Bzinfin S.A. disclosed
that they beneficially own 104,376,280 shares of common stock of
Ener1, Inc., representing 47.3% of the shares outstanding.  Ener1
Group, Inc., also disclosed beneficial ownership of 89,564,508
shares or 42% equity stake.

On Nov. 16, 2011, the Company, as borrower, entered into a
$4,500,000 Loan Agreement with Bzinfin, as agent, and certain
investment funds managed by Goldman Sachs Asset Management, L.P.,
and Bzinfin, as lenders.  The Loan Agreement provides for a
$4,500,000 term loan, which the Company borrowed in full at
closing on Nov. 16, 2011.  The term loan, which matures Dec. 23,
2011, bears interest at LIBOR plus seven percent per annum.  The
Company's obligations under the Loan Agreement are secured by all
of the present and future assets of the Company, subject to
certain exceptions, and guaranteed by certain of its
subsidiaries, which have secured their guarantees with pledges of
certain of their assets.

The Loan Agreement contains certain customary representations and
warranties, as well as affirmative and negative covenants.  The
Loan Agreement is also subject to customary events of default.  If
an event of default arises from certain events of bankruptcy or
insolvency, the obligations imposed under the Loan Agreement will
immediately terminate and all remaining principal and accrued and
unpaid interest thereon will become immediately due and payable
without further action or notice.

The Company may use the proceeds from borrowings under the Loan
Agreement for general working capital and operational expenses of
the Company and such guarantor subsidiaries.

In connection with the Loan Agreement, Bzinfin agreed to
temporarily forbear from exercising any remedies with respect to
existing breaches of the LOC Agreement.

A full-text copy of the amended Schedule 13D is available for free
at http://is.gd/g3RNjX

                            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.


ENVISION SOLAR: Posts $1.2 Million Net Loss in Third Quarter
------------------------------------------------------------
Envision Solar International, Inc., filed its quarterly report on
Form 10-Q, reporting a net loss of $1.2 million on $499,314 of
revenues for the three months ended Sept. 30, 2011, compared with
a net loss of $727,674 on $nil revenue for the same period in
2010.

The Company reported a net loss of $2.1 million on $1.1 million of
revenues for the nine months ended Sept. 30, 2011, compared with a
net loss of $1.6 million on $169,082 of revenues for the same
period last year.

The Company's balance sheet at Sept. 30, 2011, showed $2.0 million
in total assets, $4.6 million in total liabilities, and a
stockholders' deficit of $2.6 million.

Salberg & Company, P.A., in Boca Raton, Fla., expressed
substantial doubt about Envision Solar 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 the Company reported a net loss of $2,360,851 and
$4,267,310 in 2010 and 2009, respectively, and used cash for
operating activities of $1,112,794 and $274,876 in 2010 and 2009,
respectively.  "At Dec. 31, 2010, the Company had a working
capital deficiency, stockholders' deficit and accumulated deficit
of $3,755,543, $3,557,790 and $19,792,967, respectively."

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

                       http://is.gd/v9cFJl

Envision Solar International, Inc., headquartered in San Diego,
Calif., is a solar product, project and technology developer
providing turn-key design/build solutions for commercial,
industrial and institutional projects.


EPAZZ INC: Incurs $120,600 Net Loss in Third Quarter
----------------------------------------------------
Epazz, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, reporting a net loss
of $120,608 on $205,724 of revenue for the three months ended
Sept. 30, 2011, compared with a net loss of $12,119 on $87,191 of
revenue for the same period during the prior year.

The Company also reported net income of $60,488 on $646,023 of
revenue for the nine months ended Sept. 30, 2011, compared with a
net loss of $20,893 on $269,332 of revenue for the same period a
year ago.

The Company's balance sheet at Sept. 30, 2011, showed
$2.09 million in total assets, $1.42 million in total liabilities
and $669,483 in total stockholders' equity.

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.

                        Bankruptcy Warning

The Company currently anticipates that it will only be able to
continue its business operations for the next three months with
its current cash on hand and the revenues it generates and will
need approximately $100,000 to continue its operations for the
next 12 months, including any funds the Company will need to make
payments under its note payables.

The Company cannot be certain that any such financing will be
available on acceptable terms, or at all, and the Company's
failure to raise capital when needed could limit its ability to
continue and expand its business.  The Company intends to overcome
the circumstances that impact its ability to remain a going
concern through a combination of the commencement of additional
revenues, of which there can be no assurance, with interim cash
flow deficiencies being addressed through additional equity and
debt financing.  The Company's ability to obtain additional
funding for the remainder of the 2011 year and thereafter will
determine its ability to continue as a going concern.

There can be no assurances that these plans for additional
financing will be successful.  Failure to secure additional
financing in a timely manner to repay the Company's obligations
and supply the Company sufficient funds to continue its business
operations and on favorable terms if and when needed in the future
could have a material adverse effect on the Company's financial
performance, results of operations and stock price and require the
Company to implement cost reduction initiatives and curtail
operations.  Furthermore, additional equity financing may be
dilutive to the holders of the Company's common stock, and debt
financing, if available, may involve restrictive covenants, and
strategic relationships, if necessary to raise additional funds,
and may require that the Company relinquish valuable rights.  In
the event that the Company is unable to repay its current and
long-term obligations as they come due, the Company could be
forced to curtail or abandon its business operations, or file for
bankruptcy protection; the result of which would likely be that
the Company's securities would decline in value or become
worthless.

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

                        http://is.gd/ZoQiBw

                          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.


ESP RESOURCES: Posts $706,100 Net Loss in Third Quarter
-------------------------------------------------------
ESP Resources, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $706,109 on $3.4 million of sales for
the three months ended Sept. 30, 2011, compared with a net loss of
$776,474 on $1.3 million of sales for the corresponding period
last year.

The Company reported a net loss of $2.7 million on $7.5 million of
sales for the nine months ended Sept. 30, 2011, compared with a
net loss of $1.7 million on $3.6 million of sales for the same
period of 2010.

The Company's balance sheet at Sept. 30, 2011, showed $7.0 million
in total assets, $6.1 million in total liabilities, and
stockholders' equity of $916,465.

MaloneBailey, LLP, in Houston, expressed substantial doubt about
ESP Resources' ability to continue as a going concern, following
the Company's 2010 results.  The independent auditors noted that
the Company has incurred losses and negative cash from operations
through Dec. 31, 2010.

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

                       http://is.gd/fbw6SJ

Scott, La.-based ESP Resources, Inc., through its wholly owned
subsidiary, ESP Petrochemicals, Inc., is a custom formulator of
petrochemicals for energy industry.


EVERGREEN ENERGY: Ilyas Khan Continues to Have 6.6% Equity Stake
----------------------------------------------------------------
In an amended Schedule 13D filing with the U.S. Securities and
Exchange Commission, Ilyas Khan and his affiliates disclosed that
they beneficially own 1,858,250 shares of common stock of
Evergreen Energy Inc. representing 6.60% of the shares
outstanding.  Khan reported ownership of the same number of shares
in his previous disclosure with the SEC.  A full-text copy of the
recent filing is available at no charge at http://is.gd/PuQcMh

                      About Evergreen Energy

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

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

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

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


FALLS AT TOWNE: Chapter 11 Reorganization Case Dismissed
--------------------------------------------------------
The Hon. Dennis D. O'Brien of the U.S. Bankruptcy Court for the
District of Minnesota dismissed the Chapter 11 case of The Falls
at Towne Crossing, LLC.

As reported in the Troubled Company Reporter on Nov. 17, 2011,
Habbo G. Fokkena, U.S. Trustee for Region 12, objected to the
motion to dismiss the Chapter 11 case of the Debtor.  In the
alternative, the U.S. Trustee requested that the case is converted
to Chapter 7 of the Bankruptcy Code.

As reported in the TCR on Oct. 26, 2011, the Debtor and lender
Broadstone Towne Crossing Property Owner LLC, reached agreement on
resolution of the lender's motions for (i) relief from the
automatic stay; and (ii) a finding that Geneva Multi-Family
Exchange XIV, LLC, and The Falls at Towne Crossing LLC are single
asset real estate debtors; and (ii) a motion to dismiss the cases.

According to the U.S. Trustee, the Debtor's case must be converted
because the Debtor has failed to comply with the U.S. Code and
Federal Rules of Bankruptcy Procedure with regard to paying fees
and submitting reports.  The Debtor must not be permitted to
dismiss its case without demonstrating that it complied with its
Chapter 11 duties.  If the Debtor cannot so demonstrate, the Court
must convert the case and permit a chapter 7 trustee to review the
matter.

               About The Falls at Towne Crossing and
                 Geneva Multi-Family Exchange XIV

Geneva Multi-Family Exchange XIV, LLC, owns the 336-unit Falls at
Towne Crossing apartment project in Mansfield, Texas.  Geneva
Multi-Family Exchange XIV and affiliate The Falls at Towne
Crossing, LLC, c/o Exchange Realty Inc., based in Minneapolis,
Minnesota, filed separate Chapter 11 bankruptcy petitions (Bankr.
D. Minn. Case Nos. 11-44562 and 11-44563) on July 5, 2011.  Judge
Dennis D. O'Brien presides over the case.

Geneva Multi-Family Exchange XIV LLC disclosed $25.5 million in
assets and $24.3 million in debts in its petition.  The Falls at
Towne Crossing estimated assets and debts of $10 million to
$50 million.  The petitions were signed by Duane H. Lund, chief
manager.

Michael L. Meyer, Esq., at Ravich Meyer Kirkman McGrath Nauman &
Tansey, at Minneapolis, Minnesota, represents the Debtor as
counsel.

As reported in the TCR on Sept. 14, 2011, the U.S. Bankruptcy
Court for the District of Minnesota dismissed on Aug. 22, 2011,
the Chapter 11 case of Geneva Multi-Family Exchange XIV, LLC.  Any
proof of claim filed in the Debtor's case will be deemed filed in
the case of The Falls at Towne Crossing, LLC, Case No. 11-44563
without further action by the claim holder.


FRANK PANZA: Two Buildings Set for Auction on Dec. 2
----------------------------------------------------
The Saratogian reports that two Broadway buildings in Saratoga
Springs, N.Y., will be on the auction block on Dec. 2, 2011, at
10:00 a.m.  The Shoe Depot building at 385 Broadway and the three-
story building at 322-328 Broadway, on the corner of Spring
Street, both owned by Frank Panza, will be auctioned by Anderson
Auction & Realty.

According to Anderson's Web site, auction terms include "10% down
in certified funds and balance due in 30 days at closing."

The report notes that the buildings were scheduled to be auctioned
in May 2011, but the auction was canceled at the last minute when
Mr. Panza filed for Chapter 11 bankruptcy.

HSBC is prepared to foreclose on the properties on Dec. 2.

Anderson may be reached at:

          ANDERSON AUCTION & REALTY
          1843 Hertel Ave.
          Buffalo, NY 14216
          Tel: 716-838-8484
          Fax: 716-838-8228
          E-mail: info@andersonauctioneers.com

Frank Panza filed a Chapter 11 petition (Bankr. D. Nev. Case No.
11-16822) on May 3, 2011.  Jennifer L. Flynn is listed as a
co-debtor in bankruptcy filings.


GAME TRADING: To Pursue Financial Reorganization
------------------------------------------------
Game Trading Technologies, Inc., said that, in view of its current
cash resources, expenses, debt and near term debt service
obligations, it intends to explore all strategic alternatives to
maintain the business as a going concern, including, but not
limited to, a possible sale or one or more other transactions that
may include a comprehensive financial reorganization of the
Company.  McGuireWoods LLP has been retained as legal advisor to
the Company.

There can be no assurance that the Company's exploration of
strategic alternatives will result in the Company pursuing any
particular transaction or, if it pursues any such transaction,
that it will be completed.  The Company does not expect to make
further public comment regarding its consideration of strategic
alternatives until the Board of Directors has approved a specific
course of action, deems disclosure of significant developments is
appropriate, or the Company is legally required to do so.

                        About Game Trading

Game Trading Technologies, headquartered in Hunt Valley, Maryland,
provides comprehensive trading solutions and services for video
game retailers, publishers, rental companies, and consumers.

"We have continued to incur operating losses in the current year
and to date have been unsuccessful in raising additional working
capital and that we are dependent upon management's ability to
develop profitable operations," the Company said in the filing.
"These factors among others may raise substantial doubt about our
ability to continue as a going concern."

The Company's balance sheet at June 30, 2011, showed $11.29
million in total assets, $17.45 million in total liabilities,
$1.50 million in redeemable preferred stock, and a $7.66 million
total stockholders' deficit.


GAME TRADING: Hires Marc Weinsweig as Chief Restructuring Officer
-----------------------------------------------------------------
The board of directors of Game Trading Technologies, Inc.,
appointed Marc Weinsweig as Chief Restructuring Officer of the
Company.  There is no understanding or arrangement between Mr.
Weinsweig and any other person pursuant to which Mr. Weinsweig was
selected as an executive officer of the Company.  Mr. Weinsweig
does not have any family relationship with any director, executive
officer or person nominated or chosen by us to become a director
or executive officer.

Since 2010, Mr. Weinsweig has served as CEO of WeinsweigAdvisors
LLC, an advisory firm focused on preserving and enhancing
enterprise value.  From 2002 to 2010, Mr. Weinsweig served as a
turnaround consultant at FTI Consulting, a global business
advisory firm.  He previously worked at PricewaterhouseCoopers
from 1994 through 2002.  Mr. Weinsweig earned his M.B.A. from
Carnegie Mellon University in 1993, where he was the recipient of
the Graduate Business Foundation National Leadership, Peer
Leadership and Faculty and Staff Recognition Awards.  He earned
his B.S. from Pennsylvania State University in 1989.  Mr.
Weinsweig is a certified public accountant and certified
turnaround professional.

On Nov. 21, 2011, the Company entered into an Agreement with
WeinsweigAdvisors LLC, a company controlled by Mr. Weinsweig.
Under the terms of the Agreement, the Firm will perform such
services, within the Firm's area of expertise, as the Company or
any of its subsidiaries may reasonably require from time to time.
During the term of the Agreement, Mr. Weinsweig will serve as
Chief Restructuring Officer of the Company.  The Agreement has an
initial term through Jan. 16, 2012.  Pursuant to the Agreement,
the Company will pay the Firm $150,000 through Jan. 16, 2012, in
three equal installments on Dec. 2, 2011, Dec. 16, 2011, and
Dec. 30, 2011.

A full-text copy of the Consulting Agreement is available for free
at http://is.gd/n4Jr0K

                        About Game Trading

Game Trading Technologies, headquartered in Hunt Valley, Maryland,
provides comprehensive trading solutions and services for video
game retailers, publishers, rental companies, and consumers.

"We have continued to incur operating losses in the current year
and to date have been unsuccessful in raising additional working
capital and that we are dependent upon management's ability to
develop profitable operations," the Company said in the filing.
"These factors among others may raise substantial doubt about our
ability to continue as a going concern."

The Company's balance sheet at June 30, 2011, showed $11.29
million in total assets, $17.45 million in total liabilities,
$1.50 million in redeemable preferred stock, and a $7.66 million
total stockholders' deficit.


GAMETECH INT'L: Court OKs $500,000 Settlement in LBHI Case
----------------------------------------------------------
GameTech International, Inc., on Oct. 4, 2011, entered into a
Settlement Agreement, whereby, in exchange for payment of
$500,000, the Company agreed to resolve, discharge and settle all
claims that were or could have been brought by the Company against
Lehman Brothers Holdings Inc., Lehman Brothers Inc., and certain
individuals, including those claims asserted in the arbitration
proceeding captioned GameTech International, Inc., v. Lehman
Brothers Inc., et al. (Case No. 08-03389), pending before the
Financial Regulatory Authority and the cases commenced by LBHI and
its affiliates (Bankr. S.D.N.Y. Case No. 08-13555).

The Agreement provides that payment of the Settlement Amount is
subject to the approval of the U.S. Bankruptcy Court for the
Southern District of New York.  On Nov. 18, 2011, the United
States Bankruptcy Court for the Southern District of New York
entered an order in the above mentioned Chapter 11 cases,
authorizing relief from the automatic stay, to the extent
necessary to allow certain insurers to fund the Settlement Amount.
The Company anticipates that substantially all of the Settlement
Amount will used to reduce outstanding debt.

                    About GameTech International

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

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

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

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


GENCORP INC: Repurchases $46.4MM of 2.25% Convertible Debenture
----------------------------------------------------------------
In accordance with the provisions of the indenture governing
GenCorp Inc.'s 2.25% Convertible Subordinated Debentures due 2024,
holders submitted to the Company for repurchase $46.4 million in
aggregate principal amount of the Debentures.  The Company has
instructed the paying agent, which is The Bank of New York Mellon
Trust Company, N.A., to repurchase the tendered Debentures of
$46.4 million and pay accrued and unpaid interest thereon.
Following the Company's repurchase of the Debentures, $0.2 million
in aggregate principal amount of the Debentures remains
outstanding.

                         About GenCorp Inc.

Rancho Cordova, Calif.-based GenCorp Inc. (NYSE: GY)
-- http://www.GenCorp.com/-- is a manufacturer of aerospace and
defense products and systems with a real estate segment that
includes activities related to the re-zoning, entitlement, sale,
and leasing of the Company's excess real estate assets.

The Company's balance sheet at Aug. 31, 2011, showed
$994.20 million in total assets, $1.13 billion in total
liabilities, $4.50 million in redeemable common stock, and a
$147.90 million total shareholders' deficit.

                           *     *     *

Standard & Poor's in February 2011 has raised its corporate credit
rating on GenCorp Inc. to 'B' from 'B-'.  S&P also raised its
rating on the company's first-lien secured debt to 'BB-' from 'B+'
and on the subordinated debt to 'CCC+' from 'CCC'.  The recovery
rating on the first-lien secured debt remains unchanged at '1',
and the recovery rating on the subordinated debt remains unchanged
at '6'.  The outlook is stable.

"We are raising its ratings on GenCorp by one notch to reflect the
company's improved liquidity position," said Standard & Poor's
credit analyst Lisa Jenkins.  "The ratings on GenCorp reflect its
highly leveraged capital structure, weak financial performance,
limited diversity, and modest scale of operations compared with
competitors.  Offsetting these challenges to some extent is the
company's good niche positions in aerospace propulsion and solid
backlog.  S&P characterize GenCorp Inc.'s business profile as weak
and its financial profile as highly leveraged."

As reported by the TCR on May 24, 2011, Moody's Investors Service
upgraded the corporate family and probability of default ratings
of GenCorp Inc. to B1 from B2.  The upgrade reflects the Company's
steady improvement to operating results, as a leading niche
supplier of solid and liquid rocket propulsion systems to prime
defense contractors.  Operating margins have grown to above 11%
(inclusive of Moody's standard adjustments) in the most recent
twelve-month period, resulting from growth in defense programs
that GenCorp supplies (THAAD, Aegis, PAC-3) and good cost
controls.  GenCorp's funded backlog has grown steadily over
several years, and is now about 90% of sales.  The level of
backlog provides good forward revenue visibility and compares
favorably with other defense suppliers.


GARFIELD TAYLOR: Faces SEC Charges on Ponzi Scheme
--------------------------------------------------
The Securities and Exchange Commission charged a Bethesda, Md. man
and several family members and friends with conducting a multi-
million dollar Ponzi scheme targeting investors in the Washington
D.C. metropolitan area.

The SEC alleges that Garfield M. Taylor lured primarily middle-
class residents in his community with little to no investing
experience to invest in promissory notes issued by his two
companies that engaged in purportedly low-risk options trading.

Mr. Taylor urged investors to refinance their homes and use any
available means to invest, including their personal savings and
retirement funds.  He promised returns as high as 20 percent per
year and falsely assured investors that their investments would be
protected by a "reserve account" or that he would employ a
"covered call" trading strategy that would not touch the principal
amount of their investment.

According to the SEC's complaint filed in federal court in
Washington D.C., Taylor and his companies instead engaged in very
high-risk, speculative options trading and suffered massive
losses. Taylor relied upon money from new investors to pay returns
to earlier investors in typical Ponzi scheme fashion.  He also
siphoned off $5 million in investor funds to pay family and
friends and for other personal uses, including $73,000 to the
private school his children attended.

"Garfield Taylor and his partners in the scheme touted themselves
as seasoned and trustworthy financial professionals offering a
conservative but lucrative investment opportunity. In reality,
they were gambling away investor assets in extremely risky trades
and operating a classic Ponzi scheme," said Stephen L. Cohen,
Associate Director of the SEC's Division of Enforcement.

The SEC alleges that the Ponzi scheme defrauded more than $27
million from approximately 130 investors from 2005 to 2010.  The
scheme ultimately collapsed in the fall of 2010 when the
companies' accounts were depleted by the trading losses and
interest payments to investors.

The SEC's complaint charged Taylor's companies Garfield Taylor
Inc. and Gibraltar Asset Management Group LLC ? which were not
registered with the SEC ? as well as five collaborators in
Taylor's scheme:

Maurice G. Taylor of Bowie, Md., who is the brother of Garfield
Taylor.  He is the Chief Investment Officer at Gibraltar and
worked as a trader for Garfield Taylor Inc.

Randolph M. Taylor of Washington D.C., who is the nephew of
Garfield Taylor.  He was formerly the Vice President for
Organizational Development at Gibraltar.

Benjamin C. Dalley of Washington D.C., who is the childhood friend
and business partner of Randolph Taylor. He was formerly Vice
President of Operations at Gibraltar.

Jeffrey A. King of Upper Marlboro, Md., whose sister is married to
Maurice Taylor. He was a former independent contractor for
Garfield Taylor Inc. and former President and Chief Operating
Officer of Gibraltar.

William B. Mitchell of Middle River, Md., who was formerly Vice
President for Finance at Garfield Taylor Inc. and former Executive
Vice President of Strategic Planning at Gibraltar.

According to the SEC's complaint, Garfield Taylor and the others
jointly prepared and finalized a Gibraltar PowerPoint presentation
for prospective investors that was riddled with false and
misleading statements.  They misrepresented the nature of the
company's options trading strategy, the anticipated rate of
return, the protections offered by its outside accountant, and the
overall level of risk involved in an investment with Gibraltar.

They pitched the PowerPoint presentation to potential
institutional investors and charitable organizations, including a
Washington D.C.-based children's charity and a Baptist church in
Maryland. Garfield Taylor went so far as to provide the Baptist
church with a fake "letter of recommendation" from Charles Schwab
as he pitched the investment opportunity.

The SEC alleges that in order to maintain a steady flow of new
investor money, Garfield Taylor induced current investors and
others including King and Mitchell to solicit and refer new
investors to him in exchange for commission payments based on the
amounts invested.  Garfield Taylor, who was not a licensed
securities broker, persuaded several individuals to give him
online access to their personal brokerage accounts so he could
place trades and give them a promised share of any profits
generated.

The SEC's complaint charges each of the Taylors, Dalley, King,
Garfield Taylor Inc. and Gibraltar Asset Management Group with
violating the anti-fraud provisions of federal securities laws.

The SEC charged Garfield Taylor, King, and Mitchell with violating
the broker-dealer registration requirements, and Garfield Taylor,
Garfield Taylor Inc. and Gibraltar Asset Management Group with
violating the offering registration requirements of the federal
securities laws.  The SEC seeks a judgment permanently enjoining
the defendants from future violations of the relevant provisions
of the federal securities laws and ordering them to pay penalties
and disgorgement with prejudgment interest.  The SEC also named
three companies belonging to Randolph Taylor, Dalley, King, and
Mitchell as relief defendants for the purposes of seeking
disgorgement with prejudgment interest of investor funds in their
possession.

The SEC's investigation was conducted by Sarah Allgeier, Richard
Johnston and Donato Furlano. The SEC's litigation will be led by
Richard Hong.


GENERAL MARITIME: Final Hearing on $75MM DIP Loan Set for Dec. 15
-----------------------------------------------------------------
General Maritime Corporation will return to the Bankruptcy Court
on Dec. 15 at 10:00 a.m. for a final hearing on its request for
debtor-in-possession financing from Nordea Bank Finland Plc and
other lenders as well as use cash collateral and provide adequate
protection to prepetition secured parties.  General Maritime had
won interim authority to 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 DIP facility consists of a $40
million term loan facility and a $35 million revolving loan credit
facility.

Under the DIP Agreement, General Maritime covenants with the DIP
lenders not permit the sum of (i) the Unrestricted Cash and Cash
Equivalents held by the Parent and its Subsidiaries and (ii) the
aggregate available unutilized Revolving Commitments to be less
than:

     (x) from the entry of the Final DIP Order to and including
         April 30, 2012, $15,000,000 at any time and

     (y) from May 1, 2012, to and including the Maturity Date,
         $10,000,000 at any time.

General Maritime also will not permit cumulative Consolidated
EBITDA for the period commencing on Nov. 1, 2011, and ending on
the last day of a month set forth to be less than the amount set
forth

          Month                         Minimum EBITDA
          -----                         --------------
          December 2011                    $2,115,000
          January 2012                     $4,600,000
          February 2012                    $6,875,000
          March 2012                       $9,350,000
          April 2012                      $12,100,000
          May 2012                        $15,700,000
          June 2012                       $19,225,000
          July 2012                       $23,725,000
          August 2012                     $28,050,000
          September 2012                  $32,750,000
          October 2012                    $37,200,000

The DIP Facility matures on the earlier of (i) nine months from
the Petition Date with a three month extension option, (ii) the
date of termination of commitments and DIP Lenders? obligations to
make loans and issue letters of credit pursuant to the exercise of
remedies, (iii) the effective date of a chapter 11 plan, and (iv)
the consummation of a sale pursuant to Section 363 of the
Bankruptcy Code.

The DIP Agreement requires the Borrower to pay the lenders a host
of fees:

     (1) Commitment Commission Fee: 50% of the applicable margin
         for the DIP Loans with respect to any unused portion of
         the commitment.

     (2) Letter of Credit Fee: rate per annum equal to the
         applicable margin for DIP Loans on the stated amount of
         each letter of credit.

     (3) Facing Fee (with respect to Letters of Credit): a rate
         per annum equal to the greater of $500 and 1/8 of 1% on
         the stated amount of each letter of credit.

     (4) Facility Fee: 1.50% of the commitment of each DIP Lender
         Other Fees: as agreed to between the Debtors and the DIP
         Agent/DIP Lenders

The Debtors are required to comply with these milestones under the
DIP Agreement:

     -- obtain binding written commitment and support agreement
        for a New Equity Amount and file an acceptable bankruptcy-
        exit plan and disclosure statement 75 days after the
        Petition Date (the DIP Lenders have certain consent rights
        over the plan);

     -- obtain an order approving the disclosure statement 135
        days after the Petition Date; and

     -- obtain an order confirming an Acceptable Plan and the
        Acceptable Plan will be substantially consummated 210 days
        after the Petition Date.

Absent compliance with the milestones, the Debtors must
immediately commence a sale process upon receipt of notice of
noncompliance from the DIP Agent at the direction of the Directing
Parties.  Oaktree Capital Management LP, a lender, would be the
so-called stalking horse for that auction.

The lending consortium consists of:

     * Nordea Bank Finland PLC, New York Branch;
     * Citibank NA;
     * DNB Bank ASA;
     * HSH Nordbank AG;
     * The Royal Bank of Scotland; and
     * Skandinaviska Enskilda Banken AB (PUBL)

According to Bloomberg News, General Maritime's bankruptcy
counsel, Kenneth Eckstein said Nov. 18 the company hopes to file a
reorganization plan in January.

An ad hoc group of holders of more than $185 million of the $300
million of 12% Senior Notes due 2017 issued by General Maritime
Corporation objected to the DIP 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 Noteholders group consists of 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.

As of Sept. 30, 2011, General Maritime recorded consolidated
liabilities totaling $1,412,647,000.  For the 12 months ending
Sept. 30, 2011, the Company?s consolidated net voyage revenue was
$201.7 million.

Pre-bankruptcy, the vast majority of the Debtors? liabilities
relates to borrowed debt comprised of:

     $550   million under a credit facility dated May 6, 2011 with
                    Nordea Bank Finland plc, New York Branch, as
                    administrative agent;

     $328.2 million under a credit facility dated May 6, 2011,
                    with Nordea as administrative agent;

     $200   million under a credit facility dated May 6, 2011,
                    with OCM Administrative Agent, LLC, as
                    administrative agent; and

     $300   million of senior notes due 2017 under an indenture
                    dated November 12, 2009, with Bank of New York
                    Mellon as indenture trustee.

                      About General Maritime

New York-based 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 30 owned vessels and three
chartered vessels.  The company generates substantially all of its
revenues by chartering its fleet to third-party customers.  The
largest customers include major international oil companies, oil
producers, and oil traders such as BP, Chevron Corporation, CITGO
Petroleum Corp., ConocoPhillips, Exxon Mobil Corporation, Hess
Corporation, Lukoil Oil Company, Stena AB, and Trafigura.

General Maritime and 56 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% 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.

Counsel for Nordea, as the DIP Agent and the Senior Agent, are:

          Thomas E. Lauria, Esq.
          Scott Greissman, Esq.
          WHITE & CASE LLP
          1155 Avenue of the Americas
          New York, NY 10036-2787
          Tel: 212-819-8567
          E-mail: tlauria@whitecase.com
                  sgreissman@whitecase.com

Counsel for Oaktree Capital Management, the Junior Agent, are:

          Edward Sassower, Esq.
          Brian Schartz, Esq.
          KIRKLAND & ELLIS, LLP
          601 Lexington Avenue
          New York, NY 10022-4643
          Tel: 212-446-4733
          E-mail: edward.sassower@kirkland.com

An ad hoc group of holders of more than $185 million of the $300
million of 12% Senior Notes due 2017 issued by General Maritime
Corporation is represented by:

          Paul D. Leake, Esq.
          Pedro A. Jimenez, Esq.
          JONES DAY
          222 East 41st Street
          New York, NY 10017
          Telephone: (212) 326-3939
          Facsimile: (212) 755-7306
          E-mail: pdleake@jonesday.com
                  pjimenez@jonesday.com


GENERAL MARITIME: Court Okays Garden City as Claims Agent
---------------------------------------------------------
General Maritime Corporation and its debtor-affiliates won
Bankruptcy Court approval to employ GCG, Inc., aka The Garden City
Group, Inc., as its notice and claims agent.

The firm's hourly billing rates are:

          Title                         Standard Hourly Rates
          -----                         ---------------------
   Administrative & Data Entry                 $45 -  $55
   Mailroom and Claims Control                 $55
   Customer Service Representatives            $57
   Project Administrators                      $70 -  $85
   Quality Assurance Staff                     $80 - $125
   Project Supervisors                         $95 - $110
   Systems & Technology Staff                 $100 - $200
   Graphic Support for Web site               $125
   Project Managers                           $125 - $175
   Directors, Sr. Consultants and Asst VP     $200 - $295
   Vice President and above                   $295

Expert services provided by Vice President Jeff Stein in
connection with solicitation (including of public securities) and
tabulation will be at a rate of $310 per hour.

Prior to the Petition Date, General Maritime paid to GCG (i)
$21,215.60 on account of prepetition services, and (ii) a retainer
of $15,000 to be applied first against the pre-petition fees and
expenses incurred by GCG and then the unused portion of which will
be applied against the last bill for fees and expenses that GCG
will render in the Chapter 11 cases.

Angela Ferrante -- angela.ferrante@gcginc.com -- Assistant Vice
President of GCG, attests that GCG (i) is a "disinterested person"
within the meaning of section 101(14) of the Bankruptcy Code, (ii)
does not hold or represent an interest adverse to the Debtors'
estates in connection with any matter on which GCG will be
employed, and (iii) neither GCG nor any of its employees has any
connection with the Debtors, their creditors, the United States
Trustee or any other party in interest in the Chapter 11 cases.

                      About General Maritime

New York-based 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 30 owned vessels and three
chartered vessels.  The company generates substantially all of its
revenues by chartering its fleet to third-party customers.  The
largest customers include major international oil companies, oil
producers, and oil traders such as BP, Chevron Corporation, CITGO
Petroleum Corp., ConocoPhillips, Exxon Mobil Corporation, Hess
Corporation, Lukoil Oil Company, Stena AB, and Trafigura.

General Maritime and 56 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.

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% 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.

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.

Counsel for Nordea, as the DIP Agent and the Senior Agent, are
Thomas E. Lauria, Esq., and Scott Greissman, Esq., at White & Case
LLP.  Counsel for Oaktree Capital Management, the Junior Agent,
are Edward Sassower, Esq., and Brian Schartz, Esq., at Kirkland &
Ellis, LLP.

An ad hoc group of holders of more than $185 million of the $300
million of 12% Senior Notes due 2017 issued by General Maritime
Corporation is represented by Paul D. Leake, Esq., and Pedro A.
Jimenez, Esq., at Jones Day.


GENERAL MARITIME: Schedules Filing Deadline Moved to Dec. 31
------------------------------------------------------------
General Maritime Corporation and its debtor-affiliates obtained a
30-day extension to file (i) a schedule of assets and liabilities,
(ii) a statement of financial affairs, (iii) a schedule of current
income and expenditures, and (iv) a statement of executory
contracts and unexpired leases with the Bankruptcy Court.  The
financial disclosures were originally due within 14 days from the
petition date.  The new deadline is Dec. 31.

Given the size and complexity of their multinational business
operations, the number of domestic and foreign creditors, and the
fact that certain prepetition invoices have not yet been received
or entered into the Debtors? financial accounting systems, the
Debtors told the Court have not yet finished compiling the
information required to complete the Schedules.

                      About General Maritime

New York-based 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 30 owned vessels and three
chartered vessels.  The company generates substantially all of its
revenues by chartering its fleet to third-party customers.  The
largest customers include major international oil companies, oil
producers, and oil traders such as BP, Chevron Corporation, CITGO
Petroleum Corp., ConocoPhillips, Exxon Mobil Corporation, Hess
Corporation, Lukoil Oil Company, Stena AB, and Trafigura.

General Maritime and 56 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% 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.

Counsel for Nordea, as the DIP Agent and the Senior Agent, are
Thomas E. Lauria, Esq., and Scott Greissman, Esq., at White & Case
LLP.  Counsel for Oaktree Capital Management, the Junior Agent,
are Edward Sassower, Esq., and Brian Schartz, Esq., at Kirkland &
Ellis, LLP.

An ad hoc group of holders of more than $185 million of the $300
million of 12% Senior Notes due 2017 issued by General Maritime
Corporation is represented by Paul D. Leake, Esq., and Pedro A.
Jimenez, Esq., at Jones Day.


GREENHOUSE HOLDINGS: Posts $1.6 Million 3rd Quarter Net Loss
------------------------------------------------------------
GreenHouse Holdings, Inc., filed its quarterly report on
Form 10-Q, reporting a net loss of $1.6 million on $470,392 of
revenues for the three months ended Sept. 30, 2011, compared with
a net loss of $991,465 on $1.7 million of revenues for the same
period in 2010.

The Company reported a net loss of $3.8 million on $2.9 million of
revenues for the nine months ended Sept. 30, 2011, compared with a
net loss of $3.0 million on $4.4 million of revenues for the
corresponding period last year.

The Company's balance sheet at Sept. 30, 2011, showed $7.0 million
in total assets, $5.8 million in total liabilities, and
stockholders' equity of $1.2 million.

As reported in the TCR on April 8, 2011, PKF, in San Diego,
Calif., expressed substantial doubt about GreenHouse Holdings'
ability to continue as a going concern, following the Company's
2010 results.  The independent auditors noted that the Company had
an accumulated deficit of $6,753,036, a net loss and net cash used
in operations of $4,644,966 and $3,509,800, respectively, for the
year ended Dec. 31, 2010.

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

                       http://is.gd/HA7F2x

San Diego, Calif.-based GreenHouse Holdings, Inc. (OTC BB: GRHU)
-- http://www.greenhouseintl.com/-- is a provider of energy
efficiency and sustainable facilities solutions.  The Company
designs, engineers and installs products and technologies that
enable its clients to reduce their energy costs and carbon
footprint.  The Company has two business segments, Energy
Efficiency Solutions (EES) and Sustainable Facilities Solutions
(SFS).  The Company serves residential, industrial, commercial,
government and military markets in the United States and abroad.


GRACEWAY PHARMACEUTICALS: Gets Formal Nod to Sell to Medicis
------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Graceway Pharmaceuticals LLC received formal approval
from the bankruptcy judge in Delaware on Nov. 22 to sell the
business for $455 million to Medicis Pharmaceutical Corp.  The
Nov. 17 auction opened with a $275 million bid from Switzerland's
Galderma SA.  Before the auction, Graceway predicted there would
be competitive bidding.

                  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.


GRUBB & ELLIS: Forward Management Discloses 11.4% Equity Stake
--------------------------------------------------------------
In a Schedule 13G filing with the U.S. Securities and Exchange
Commission, Forward Management, LLC, and its affiliates disclosed
that they beneficially own 14,584,591.48 shares of common stock of
Grubb & Ellis Co. representing 11.44% of the shares outstanding.
The number of shares outstanding of the Company's common stock as
of Nov. 9, 2011, was 70,086,570 shares.  A full-text copy of the
filing is available for free at http://is.gd/3hS2LG

                    About Grubb & Ellis Company

Grubb & Ellis Company -- http://www.grubb-ellis.com/-- is one of
the largest and most respected commercial real estate services and
investment companies in the world. Our 5,200 professionals in more
than 100 company-owned and affiliate offices draw from a unique
platform of real estate services, practice groups and investment
products to deliver comprehensive, integrated solutions to real
estate owners, tenants and investors.  The firm's transaction,
management, consulting and investment services are supported by
highly regarded proprietary market research and extensive local
expertise.  Through its investment management business, the
company is a leading sponsor of real estate investment programs.

The Company reported a net loss of $69.7 million on $575.5 million
of revenues for 2010, compared with a net loss of $80.5 million on
$527.9 million of revenues for 2009.

The Company also reported a net loss of $28.61 million on
$378.90 million of total revenue for the nine months ended Sept.
30, 2011, compared with a net loss of $58.56 million on
$372.38 million of total revenue for the same period a year ago.

The Company's balance sheet at Sept. 30, 2011, showed
$149.77 million in total assets, $152.74 million in total
liabilities, $98.89 million in preferred stock, and a
$101.85 million total deficit.

The Company said it may seek additional financing prior to the
completion of its review of strategic alternatives.  It is
anticipated that any strategic alternative would include
provisions to extend, retire or refinance the Colony credit
facility at or prior to maturity.  If the Company is unable to
extend, retire or refinance the Colony credit facility prior to
maturity, it could create substantial doubt about the Company's
ability to continue as a going concern for the twelve month period
following the date of these financial statements.  The Company
believes that upon completion of its strategic alternative process
the Company will have sufficient liquidity to operate in the
normal course over the next twelve month period.


GRYPHON GOLD: Posts $804,400 Net Loss in Third Quarter
------------------------------------------------------
Gryphon Gold Corporation filed its quarterly report on Form 10-Q,
reporting a net loss of $804,461 for the three months ended
Sept. 30, 2011, compared with a net loss of $812,302 for the same
period in 2010.

The Company reported a net loss of $1.4 million for the six months
ended Sept. 30, 2011, compared with a net loss of $1.2 million for
the same period last year.

As of Sept. 30, 2011, the Company is completing construction of
the Borealis Oxide Heap Leach Project and had no producing mineral
properties.  Thus, it had no sales revenue during all reporting
periods.

The Company's balance sheet at Sept. 30, 2011, showed
$23.8 million in total assets, $10.3 million in total liabilities,
and stockholders' equity of $13.5 million.

DeCoria, Maichel & Teague P.S., in Spokane, Washington, expressed
substantial doubt about the Gryphon Gold's ability to continue as
a going concern, following the Company's results for the fiscal
year ended March 31, 2011.  The independent auditors noted that
the Company has suffered recurring operating losses and has an
accumulated deficit of $37,950,801.

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

                       http://is.gd/7f4BGs

Carson City, Nevada-based Gryphon Gold Corporation was
incorporated in the State of Nevada in 2003 and wholly owns its
subsidiary, Borealis Mining Company.  The Company has historically
reported as an exploration and development company.  On June 6,
2011, the Company began constructing an oxide heap leach mine and
related processing facility on its Borealis property (the
"Borealis Oxide Heap Leach Project").  During to the period ended
Sept. 30, 2011, the Company commenced mining operations, and
management has determined the Company is no longer in the
exploration/development stage.


GULF STATES: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: Gulf States Underwriters of Louisiana, Inc.
        309 Paradise Road
        Ball, LA 71405

Bankruptcy Case No.: 11-81619

Chapter 11 Petition Date: November 23, 2011

Court: U.S. Bankruptcy Court
       Western District of Louisiana (Alexandria)

Judge: Henley A. Hunter

Debtor's Counsel: L. Laramie Henry, Esq.
                  P.O. Box 8536
                  Alexandria, LA 71306
                  Tel: (318) 445-6000
                  Fax: (318) 445-6063
                  E-mail: laramie@henry-law.com

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

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

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

The petition was signed by Richard Sanders, vice president.


HOLDINGS OF EVANS: Creditor Wants Plan Filing Extension Denied
--------------------------------------------------------------
2010-1 SFG Venture LLC asks the U.S. Bankruptcy Court for the
Southern District of Georgia to deny Holdings of Evans, LLC's
motion extending the deadline for the Debtor to file a plan of
reorganization and comply with Section 362(d)(3)(A) to the third
day of either January or February 2012.

SFG is a first priority secured creditor of the Debtor that holds
a lien and security interest in all or substantially all of the
Debtor's real and personal property, including all of the rents
associated with the Debtor's real property located at 156 Classic
Road, Athens, Georgia to secure a claim in excess of $5.3 million.

SFG related that on Nov. 7, 2011, the Debtor filed the instant
motion seeking entry of an order declaring that the Debtor had
complied with the rigid and mandatory requirements of section
362(d)(3)(B) of the Bankruptcy Code by commencing payments to SFG
in the amount of $26,000 or, in the alternative, extend its
exclusive periods.

According to SFG:

   -- the relief the Debtor seeks requires an adversary
      proceeding; and

   -- the Debtor is not entitled to an extension of time within
      which to file a Plan.

SFG is represented by:

         Sean C. Kulka, Esq.
         Michael F. Holbein, Esq.
         Whitney R. Travis, Esq.
         ARNALL GOLDEN GREGORY LLP
         171 17th Street, N.W., Suite 2100
         Atlanta, GA 30363-1031
         Tel: (404) 873-8664
         Fax: (404)873-8665
         E-mail: sean.kulka@agg.com
                 michael.holbein@agg.com
                 whitney.travis@agg.com

                      About Holdings of Evans

Martinez, Georgia-based Holdings of Evans LLC, dba Candlewood
Suites, filed for Chapter 11 bankruptcy (Bankr. S.D. Ga. Case No.
11-11756) on Sept. 2, 2011.  Judge Samuel L. Kay presides over the
case.  Shepard Plunkett Hamilton Boudreaux LLC serves as the
Debtor's Chapter 11 counsel.  The Debtor disclosed $11,115,538 in
assets and $6,784,463 in liabilities as of the Chapter 11 filing.
The petition was signed by GB Sharma, managing member.


IBIO INC: Reports $383,100 Net Income in June 30 Quarter
--------------------------------------------------------
iBio, Inc., filed its quarterly report on Form 10-Q, reporting net
income of $383,143 on $320,348 of revenues for the three months
ended Sept. 30, 2011, compared with a net loss of $2.8 million on
$nil revenue for the three months ended Sept. 30, 2010.

The derivative instrument liability non-cash income for the three
months ended Sept. 30, 2011, was approximately $2,704,000 as
compared to a non-cash charge of $1,441,000 for the comparable
period in 2010.  The decrease of $4,145,000 primarily reflects the
decrease in the Company's stock price at Sept. 30, 2011, as
compared to June 30, 2011, and the increase in the stock price at
Sept. 30, 2010, as compared to June 30, 2010.

The Company's balance sheet at Sept. 30, 2011, showed $5.6 million
in total assets, $4.7 million in total liabilities, and
stockholders' equity of $886,100.

J. H. Cohn LLP, in Eatontown, N.J., expressed substantial doubt
about iBio's ability to continue as a going concern, following the
Company's results for the fiscal year ended June 30, 2011.  The
independent auditors noted that the Company has incurred net
losses and negative cash flows from operating activities for the
years ended June 30, 2011, and 2010, and has an accumulated
deficit and working capital deficit as of June 30, 2011.

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

                       http://is.gd/Xi7fzT

Newark, Delaware-based iBio, Inc., is a biotechnology company
focused on commercializing its proprietary technology, the
iBioLaunch(TM) platform, for biologics including vaccines and
therapeutic proteins.


ILLINOIS FAMILY: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Illinois Family Farms
        21814 Rout 4
        Carlinville, IL 62626

Bankruptcy Case No.: 11-72957

Chapter 11 Petition Date: November 23,2011

Court: United States Bankruptcy Court
       Central District of Illinois (Springfield)

Judge: Mary P. Gorman

Debtor's Counsel: Steven Mark Wallace, Esq.
                  THE KUNIN LAW OFFICES LLC
                  1500 Eastport Plaza Drive, Suite 200
                  Collinsville, IL 62234
                  Tel: (618) 215-4803
                  E-mail: swallace@kuninlaw.com

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

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ilcb11-72957.pdf

The petition was signed by Rick Rosentreter, LLC, general partner.

Affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Illinois Family Farms Leasing, LLC     11-72634   10/12/11


INDIANA EQUITY: Court Sets Dec. 30, 2011 as Claims Bar Date
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois
has established Dec. 30, 2011, as the last day for any individual
or entity to file proofs of claim against Indiana Equity
Investments, LLC.  Government proofs of claim are due by March 30,
2012.

                      About Indiana Equity

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

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


INFRAX SYSTEMS: Posts $1.3 Million Net Loss in Sept. 30 Quarter
---------------------------------------------------------------
Infrax Systems, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $1.3 million on $204,975 of revenues for
the three months ended Sept. 30, 2011,  compared with a net loss
of $318,659 on $319,644 of revenues for the three months ended
Sept. 30, 2010.

The Company's balance sheet at Sept. 30, 2011, showed $6.6 million
in total assets, $2.9 million in total liabilities, and
stockholders' equity of $3.7 million.

Randall N. Drake, CPA, PA, in Clearwater Florida, expressed
substantial doubt about Infrax Systems' ability to continue as a
going concern, following the Company's results for the fiscal year
ended June 30, 2011.  The independent auditors noted that the
Company has incurred significant recurring losses from operations
and is dependent on outside sources of financing for continuation
of its operations.

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

                       http://is.gd/xVU0K9

Based in Pinellas Park, Fla., Infrax Systems, Inc., has, since its
inception,  been dedicated to selling and/or licensing a fiber
optic management software system under the name OptiCon Network
Manager, originally developed, and acquired from Corning Cable
System, Inc., through a related company, FutureTech Capital, LLC.
In October 2009, the Company began developing smart grid energy
related products.  As of June 29, 2010, the Company acquired the
assets and management of Trimax Wireless Systems, Inc. ("Trimax"),
in exchange for equity and a note payable.  The Trimax product
lines are expected to provide an operating platform and enhanced
operating effectiveness to the OptiCon Network Manager.

While the Company continues to enhance the OptiCon Network
Management platform, the Company has shifted its focus and
energies towards the "Smart Grid" energy sector.  The Company
believes its secure integrated platform will hasten the deployment
of all Smart Grid technology for resource constrained small and
mid-sized utilities.


INTEGRATED FIN'L: Sues State Over Renewal of Broker License
-----------------------------------------------------------
Steve Green at Vegas Inc. reports that Integrated Financial
Associates Inc. filed on Nov. 22, 2011, a complaint in U.S.
Bankruptcy Court in Nevada asking for an injunction prohibiting
the state from failing to renew IFA's mortgage broker license.

"The debtor asserts that the failure to renew the license is a
violation of the automatic stay and is unfair discrimination
against the debtor," the report says, citing the complaint.

The report relates that, on Sept. 28, 2011, the state Department
of Business and Industry and its Division of Mortgage Lending
ordered IFA to stop providing mortgage broker services or holding
itself out "as engaging or carrying on the business of a mortgage
broker or mortgage agent."

The report says the state agency noted IFA was insolvent, and it
refused to renew IFA's license.  The company had held the license
since 1997, but it expired on June 30, 2011.

According to the report, IFA said that while it hasn't originated
loans since April 2009, "the debtor is acting in its capacity as
(loan) servicer and is taking appropriate steps to maximize a
recovery for all of its investors and creditors."

"The debtor's reorganization is dependent upon its ability to
continue to operate as loan servicer for the various loans that it
manages and to act as manager for certain limited liability
companies that the debtor has formed to manage properties that
have been foreclosed on," the report adds, citing the complaint.
"If an injunction is not granted, the debtor will be unable to
operate its business."

Mr. Green also reports that IFA said it is now seeking court and
creditor approval to emerge from bankruptcy.

Integrated Financial Associates Inc. is a hard money lender,
meaning it is among companies that pool investors' funds and loan
the money to real estate buyers and developers, earning fees in
the process.  IFA and similar companies were hurt by the
recession, with many of their real estate borrowers defaulting on
loans.  IFA filed a Chapter 11 petition (Bankr. D. Nev. Case No.
11-13537) on March 14, 2011.  The Debtor is represented by The Law
Offices of Alan R. Smith, Esq.  The Debtor reported assets of
$13.6 million and liabilities of $46 million.


JEMANYA CORP: Wants Involuntary Case Dismissed as Bad Faith Filing
------------------------------------------------------------------
Jemanya Corp., asks the U.S. Bankruptcy Court for the Eastern
District of New York to dismiss the Involuntary Chapter 11 case
filed against it by Har Ji Plumbing Corp., et al.

As reported in the Troubled Company Reporter on June 8, 2011, the
Court dismissed the Involuntary Chapter 11 case of Jemanya Corp.
for failure to state a basis upon which an order for relief can be
entered.

The first involuntary petiton, filed on Feb. 21, 2011, was filed
by Har Ji Plumbing Corp., AJ Ironwork Renovations and Image
Renovations Corp.

On Oct. 16, Har Ji, AJ Ironwork and Image Renovations and four
other individuals again filed an involuntary petition.

According to the Alleged Debtor, among other things:

   -- the petitioning creditors in the instant case are not
   creditors of the Alleged Debtor and have filed the petition in
   bad faith; and

   -- the debts listed in the petition are not basis for which an
   order of relief may be entered against the alleged Debtor in an
   involuntary case.

The Debtor set a Dec. 29, 2011, hearing at 10:00 a.m. on its
request for case dismissal.

                        About Jemanya Corp.

Augusto Hernandez, Charan Singh, Har Ji, Pablo Castro, Yali Omar
Perez, Alfredo Villatoro, Marvin Matute, Kerwin Santos filed for
an involuntary Chapter 11 protection for Brooklyn, New York-based
Jemanya Corp. (Bankr. E.D.N.Y. Case No. 11-48762) on Oct. 16,
2011.  Bankruptcy Judge Jerome Feller presides over the case.  The
petitioners were represented by Lawrence Morrison, Esq.


KENT SWIG: Investment Partner Seeks Control of Ventures
-------------------------------------------------------
Lisa Uhlman at Bankruptcy Law360 reports that real estate investor
M. Myers Mermel filed a lawsuit in New York state court last week
Tuesday alleging that because his partner in real estate venture
SBE 48 Management LLC suffered a $100 million bankruptcy, their
business contract entitles Mr. Mermel to control of the company.

Mr. Mermel seeks a declaration that because of his partner Kent
Swig's teetering financial condition, management of their company
should be transferred to Mr. Mermel before more damage can be done
to the plaintiff, SBE or a related company.

As reported in the Troubled Company Reporter on Oct. 21, 2009,
Bloomberg said Deutsche Bank AG sued New York real estate
developer Kent Swig before the New York State Supreme Court in
Manhattan to demand payment of $11.35 million in principal and
$126,000 in interest on loans issued in 2007, as well as legal
costs.  According to Bloomberg, Mr. Swig has struggled to
refinance loans after credit dried up and real estate values
declined.

In August 2009, Mr. Swig lost control of Sheffield57, a $640
million Midtown Manhattan condominium project one block west of
Carnegie Hall, to mezzanine debt holder Fortress Investment Group
LLC.  Square Mile Capital Management LLC in July that year won a
judgment of about $32.4 million against Swig for money owed on the
Sheffield project, according to court filings.  Y. David Scharf,
Esq., at Morrison Cohen LLP, who is representing Mr. Swig, said
Mr. Swig is arranging "a global restructuring" with lenders with
the goal of avoiding bankruptcy.


KH FUNDING: Court Approves RE/MAX Allegiance as Listing Agents
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Maryland authorized
KH Funding Company to employ Allegiance Realty Partners, doing
business as REMAX Allegiance and RE/MAX Sails, Inc., as listing
agents and real estate brokers. Inc., for the sale of real
property.

Pursuant to a Plan of Liquidation, the Debtor will sell assets
including the real properties owned by the Debtor.

The Debtor relates that it requires the services of RE/MAX
Allegiance and RE/MAX Sails to market the Morris Road Property and
the Fleet Street Property.

Re/MAX Allegiance is the listing broker for 1487 Morris Road, SE,
Washington, DC.  The Morris Street Property is owned by the
Debtor.  As the listing broker for the Debtor, RE/MAX Allegiance
showed the property over 80 times and was able to procure a
purchaser for the Morris Street Property.  If the sale closes, it
is anticipated that the Debtor will receive proceeds in the
approximate amount of $113,900.  The contract for the sale of the
Morris Street Property provides for a 5% commission to be split
between the Debtor's broker, Ressie Wallace Wilson of RE/MAX
Allegiance and the buyer's broker, Ardella Powell of Long & Foster
Real Estate, Inc.

The Debtor related that on Oct. 21, 2011, the Court entered an
order authorizing the Debtor to proceed with the sale of the
Morris Street Property -- real property located at 1487 Morris
Road, S.E. Washington, D.C. -- but required the broker's fees to
be subject to an order approving the broker and further order of
the Court.

RE/MAX Sails is the listing broker for 2400 Fleet Street,
Baltimore, Maryland.  As the listing broker for the Debtor, RE/MAX
Sails showed the Fleet Street Property 68 times and was able to
procure a buyer for the Fleet Street Property.  The listing
agreement for the Fleet Street Property provides for a 5.5%
commission to be split between the Debtor's broker, Chris Cooke of
RE/MAX Sails and the buyer's broker, Powell of Long & Foster Real
Estate, Inc.

On Sept. 27, 2011, the Debtor requested for authorization to sell
real property located at 2500 Fleet Street, Baltimore, Maryland.

To the best of the Debtor's knowledge, RE/MAX Allegiance and
RE/MAX Sails are "disinterested persons" as that term is defined
in section 101(14) of the Bankruptcy Code.

                      About KH Funding Company

Silver Spring, Maryland-based KH Funding Company is a Maryland
corporation whose business activities consisted primarily of
originating, acquiring, and servicing mortgage loans.
Specifically, KH Funding originated commercial real estate
mortgage loans and investment property residential mortgage loans
and also purchased residential first and second mortgage loans
from other lenders.  These lending activities have been
concentrated primarily in the greater Washington, D.C. and
Baltimore areas.

The Company filed for Chapter 11 bankruptcy protection (Bankr. D.
Md. Case No. 10-37371) on Dec. 3, 2010.  Lawrence Coppel, Esq., at
Gordon Feinblatt Rothman Hoffberger & Hollander, LLC, in
Baltimore, Maryland, serves as the Debtor's bankruptcy counsel.
The Debtor estimated its assets and debts at $10 million to $50
million.

W. Clarkson McDow, Jr., United States Trustee for Region 4,
appointed seven creditors to serve on the Official Committee of
Unsecured Creditors.  The Committee is represented by Bradford J.
Sandler, Esq., at Pachulski Stang Ziehl & Jones LLP, and lawyers
at McGuireWoods LLP as co-counsel.  The Committee has tapped BDO
Consulting, a division of BDO USA, LLP, as its financial advisor.

As reported in the TCR on Oct. 3, 2011, KH Funding Company and the
Official Committee of Unsecured Creditors filed a proposed Joint
Plan of Liquidation for KH and an explanatory disclosure
statement.

The Plan provides that the Debtor's assets will be liquidated in
an orderly manner, including sales of real property owned by the
Debtor.


KEYON COMMUNICATIONS: Posts $1.9-Mil. 3rd Qtr. Net Loss
-------------------------------------------------------
KeyOn Communications Holdings, Inc., filed its quarterly report on
Form 10-Q, reporting a net loss of $1.9 million on $3.4 million of
revenues for the three months ended Sept. 30, 2011, compared with
net income of $1.5 million on $2.1 million of revenues for the
same period in 2010.

The Company reported a net loss of $21.1 million on $8.6 million
of revenues for the nine months ended Sept. 30, 2011, compared
with net income of $4.5 million on $5.4 million of revenues for
the same period last year.

The Company's balance sheet at Sept. 30, 2011, showed
$15.2 million in total assets, $11.1 million in total liabilities,
and stockholders' equity of $4.1 million.

"The Company's net loss amounted to $21,093,766 for the nine
months ended Sept. 30, 2011, and includes a non-cash interest
charge to the statement of operations, principally relating to the
acceleration of the discount of our convertible note upon its
conversion into Series A Preferred Stock on March 11, 2011 (the
"Conversion"), and a debt conversion inducement charge of
$2,292,059 from the issuance of warrants as a part of the
Conversion," the Company said in the filing.

"The Company's accumulated deficit amounted to $48,262,992 at
Sept. 30, 2011.  During the nine months ended Sept. 30, 2011, net
cash used in operating activities amounted to $1,443,163.  At
Sept. 30, 2011, the Company's working capital amounted to a
deficit of $6,677,341."

"These factors, among others, raise substantial doubt about the
Company's ability to continue as a going concern."

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

                       http://is.gd/PKzFQo

KeyOn Communications Holdings, Inc., provides wireless broadband
services primarily to rural and other underserved markets under
the "KeyOn," "SpeedNet," and "SIRIS" brands.


KINGSBURY CORP: Court OKs TrueNorth as Committee's Advisors
-----------------------------------------------------------
The U.S. Bankruptcy Court for the District of New Hampshire
authorized the Official Committee of Unsecured Creditors in the
Chapter 11 cases of Kingsbury Corporation and its debtor-
affiliates to retain TrueNorth Capital Partners LLC as its
financial advisors.

TrueNorth Capital will, among other things:

   a. assist in the review of reports or filing as required
      by the Court or the Office of the United States Trustee,
      including, but not limited to, schedules of assets and
      liabilities, statements of financial affairs, and
      monthly operating reports;

   b. review of the Debtors' financial information, including,
      but not limited to, analyses of cash receipts and
      disbursements, financial statement items, and proposed
      transactions for which Court approval is sought;

   c. review and analysis of the reporting regarding cash
      collateral;

   d. review and analyze the Debtors' business, operations
      and financial projections; and

   e. analyze the Debtors' business plan, operating budget,
      and financial projections and assessing the
      reasonableness.

TrueNorth will be compensated on an hourly basis subject to a
cap of $7,500 per month, with an additional success fee of $50,000
upon a sale or plan of reorganization, and another $50,000 if the
TrueNorth introduces the buyer or capital provider, and will
receive payment of its customary and normal business expenses,
subject to application, notice and approval by the Court.

The individuals presently designated to represent the
Committee are Jeffrey B. Gaynor (Lead Managing Director), whose
hourly billing rate for these cases is $350.00, Frederick Rossetti
(Managing Director), whose hourly billing rate for these cases is
$250.00, and Raymond Lynch (analyst), whose hourly billing rate
for these cases is $150.00, and certain administrative staff,
whose hourly billing rates are $75.00.

                       About Kingsbury Corp.

Kingsbury Corp. -- http://www.kingsburycorp.com-- makes and
assembles machine systems.

Kingsbury Corporation and affiliate Ventura Industries, LLC, filed
Chapter 11 petition (Bankr. D. N.H. Case Nos. 11-13671 and 11-
13687) on Sept. 30, 2011.  Jennifer Rood, Esq., and Robert J.
Keach, Esq., at Berstein, Shur, Sawyer & Nelson, serve as counsel
to the Debtors.  In its schedules, the Debtor disclosed
$10,134,679 in assets, and $24,534,973 in liabilities as of the
petition date.

Donnelly Penman & Partners serves as its investment banker.

William K. Harrington, the U.S. Trustee for Region 1, appointed
five unsecured creditors to serve on the Official Committee of
Unsecured Creditors of Kingsbury Corporation.


LA CORTEZ ENERGY: Reports $89,700 Net Income in Third Quarter
-------------------------------------------------------------
La Cortez Energy, Inc., filed its quarterly report on Form 10-Q,
reporting net income of $89,701 on $623,135 of oil revenues
for the three months ended Sept. 30, 2011, compared with a net
loss of $329,479 on $251,266 of oil revenues for the same
period in 2010.

During the three months ended Sept. 30, 2011, the Company
recognized an unrealized gain from the decrease in the fair value
of derivative warrant instruments liability of $909,749 compared
to an unrealized gain of $1,046,452 during the three months ended
Sept. 30, 2010.

The Company reported net income of $3.3 million on $1.6 million of
oil revenues for the nine months ended June 30, 2011, compared
with a net loss of $4.1 million on $417,540 of oil revenues for
the same period last year.

During the nine months ended Sept. 30, 2011, the Company
recognized an unrealized gain from the decrease in the fair value
of derivative warrant instruments liability of $7,306,267 compared
to $944,429 during the nine months ended Sept. 30, 2010.

The Company's balance sheet as of Sept. 30, 2011, showed
$26.3 million in total assets, $1.7 million in total liabilities,
and shareholders' equity of $24.6 million.

BDO USA, LLP, in Houston, Texas, expressed substantial doubt
about La Cortez Energy's ability to continue as a going concern,
following the Company's 2010 results.  The independent auditors
noted that the Company has limited operating history, no
historical profitability, and has limited available funds.

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

                       http://is.gd/5TXQo7

Headquartered in Bogota, Colombia, La Cortez Energy, Inc. (OTC BB:
LCTZ) -- http://www.lacortezenergy.com/-- is an international,
early stage oil and gas exploration and production company
focusing its business in South America.  The Company has entered
into two initial working interest agreements, with Petronorte and
with Emerald, and has acquired a private company, Avante Colombia.

The Company was initially incorporated in the State of Nevada on
June 9, 2006, under the name La Cortez Enterprises, Inc., to
pursue certain business opportunities in Mexico.  During 2008, the
Company's Board of Directors decided to redirect the Company's
efforts towards identifying and pursuing business in the oil and
gas sector in South America.


LENNAR CORP: Fitch Assigns 'BB+' Rating to Proposed Offering
------------------------------------------------------------
Fitch Ratings expects to assign a 'BB+' rating to Lennar
Corporation's (NYSE: LEN) proposed offering of $300 million
principal amount of convertible senior notes due 2021.  This issue
will be ranked on a pari passu basis with all other senior
unsecured debt.  Net proceeds from the notes offering will be used
for general corporate purposes, which may include the repayment or
repurchase of its existing senior notes or other indebtedness,
acquisitions of land suitable for residential development, and
purchases of or investments in, portfolios of distressed mortgages
or other debt instruments and foreclosed real estate.

Fitch's current Issuer Default Rating (IDR) for Lennar is 'BB+'.
The Rating Outlook is Stable.

The ratings and Outlook for Lennar reflect the company's strong
liquidity position and stable to slightly stronger prospects for
the housing sector in 2012.  The ratings also reflect Lennar's
successful execution of its business model, geographic and product
line diversity, lessened joint venture exposure, and the still
challenging U.S. housing environment.

The economy is restraining the housing recovery as consumer
confidence has collapsed, employment growth is modest, and there
is little that policymakers can do to boost the economy.  At the
same time, housing is not fulfilling its role as a key impetus to
the early stages of an economic recovery.  The fall in mortgage
rates and the continued rise in nominal incomes results in
superior affordability and valuations.  Mortgage rates are at
their lowest levels since the 1940s and housing appears more
undervalued versus incomes than at any time in the past 35 years.
But home prices may continue to be soft over at least the next few
quarters, as employment continues to stagnate, real incomes
decrease, and financial markets remain unsettled.  Demand will
continue to be affected by widespread negative equity, more
challenging mortgage qualification standards and excess supply due
to foreclosures.

Fitch is forecasting a moderately weaker year for housing in 2011.
Total housing starts should edge down 2.7%, single-family starts
should fall roughly 13%, new home sales should decline 7.5%, and
existing home sales are expected to be off 2%.  Fitch's housing
forecasts for 2012 assume a modest rise off a very low bottom.  In
a slowly growing economy with slightly lesser distressed home
sales competition, less competitive rental cost alternatives, and,
perhaps, even lower mortgage rates, single-family housing starts
should improve about 6%, while new home sales increase 7% and
existing home sales grow 2%.  Average single-family new home
prices (as measured by the Census Bureau) are projected to
decrease 1.5%-2.5% in 2011 and rise 1%-2% in 2012.

Lennar has solid liquidity with unrestricted homebuilding cash of
$800.3 million as of Aug.31, 2011.  The company's homebuilding
debt maturities are well-laddered, with $267.7 million maturing in
March 2013 and $250 million due in September 2014.  Although the
company has sufficient cash on hand to meet upcoming debt
maturities, Fitch expects Lennar to access the capital markets to
refinance these maturities. Lennar has demonstrated that it can
access the capital markets, even during periods of distress.

The company was the third largest homebuilder in 2010 and
primarily focuses on entry-level and first-time move-up
homebuyers.  The company builds in 14 states with particular focus
on markets in Florida, Texas and California.  Lennar's significant
ranking (within the top five or top 10) in many of its markets,
its largely presale operating strategy, and a return on capital
focus provide the framework to soften the impact on margins from
declining market conditions.  Fitch notes that in the past,
acquisitions (in particular, strategic acquisitions) have played a
significant role in Lennar's operating strategy.

Compared to its peers Lennar had above-average exposure to joint
ventures (JVs) during this past housing cycle. Longer-dated land
positions are controlled off balance sheet.  The company's equity
interests in its partnerships ranged from 10% to 50%.  These JVs
have a substantial business purpose and are governed by Lennar's
conservative operating principles.  They allow Lennar to
strategically acquire land while mitigating land risks and reduce
the supply of land owned by Lennar.  They help Lennar to match
financing to asset life.  JVs facilitate just-in-time inventory
management. Notwithstanding, Lennar has been substantially
reducing its number of JVs over the last few years (from 270 at
the peak in 2006 to 36 as of Aug. 31, 2011) and, as a consequence,
has very sharply lowered its JV recourse debt exposure (from $1.76
billion to $156.4 million as of Aug. 31, 2011).  In the future,
management will still be involved with partnerships and JVs, but
there will be fewer of them and they will be larger, on average,
than in the past.

Lennar spent roughly $523 million on new land purchases during
2010 and had $181 million of land development spending during the
year. This compares to approximately $350 million of combined land
and development spending during 2009.  Fitch expects land and
development spending for 2011 to slightly exceed 2010 levels.  As
a result, Fitch expects Lennar to be cash flow negative this year.
Fitch is comfortable with this strategy given the company's cash
position, debt maturity schedule and proven access to the capital
markets.

The company has ramped up its investments in its newest segment,
Rialto Investments.  This segment provides advisory services, due-
diligence, workout strategies, ongoing asset management services,
and acquires and monetizes distressed loans and securities
portfolios.  (Management has considerable expertise in this highly
specialized business.) In February 2010, the company acquired
indirectly 40% managing member equity interests in two limited
liability companies in partnership with the FDIC, for
approximately $243 million (net of transaction costs and a $22
million working capital reserve).  Lennar has also invested $67.5
million in a fund formed under the Federal government's Public-
Private Investment Program (PPIP), which is focused on acquiring
securities backed by real estate loans.  On Sept. 30, 2010, Rialto
completed the acquisitions of approximately $740 million of
distressed real estate assets, in separate transactions, from
three financial institutions.  The company paid $310 million for
these assets, of which $124 million was funded by a five-year
senior unsecured note provided by one of the selling financial
institutions.  In November 2010, Rialto completed its first
closing of a real estate investment fund with initial equity
commitments of approximately $300 million (including $75 million
committed by Rialto).  During the nine months ended Aug. 31, 2011,
Rialto contributed $60.6 million to the fund out of total investor
contributions of $301 million. As of Aug. 31, 2011, Rialto
Investments had $765.9 million of debt.  Rialto provides Lennar
with ancillary income as well as a source of land purchases
(either directly or leveraging Rialto's relationship with owners
of distressed assets).  Fitch views this operation as
strategically material to the company's operation, particularly as
housing activity remains at absolute low levels.

Future ratings and Outlooks will be influenced by broad housing
market trends as well as company specific activity, such as trends
in land and development spending, general inventory levels,
speculative inventory activity (including the impact of high
cancellation rates on such activity), gross and net new order
activity, debt levels, free cash flow trends and uses, and the
company's cash position.


LOAN EXCHANGE: U.S. Trustee Seeks Dismissal or Conversion of Case
-----------------------------------------------------------------
The U.S. Trustee for Region 16 has asked the U.S. Bankruptcy Court
for the Central District of California for an order dismissing the
Chapter 11 case of Loan Exchange Group or converting it to Chapter
7 liquidation.

The U.S. Trustee informs the Court that the Debtor has failed to
comply with the requirements of the U.S. Trustee Chapter 11
Notices and Guides and/or Local Bankruptcy Rules by failing to
provide documents, financial reports as follows:

     * Sufficient evidence of closing of all pre-petition bank
       accounts including closing bank statements.

     * Sufficient evidence of opening and maintenance of debtor-
       in-possession bank accounts including a voided "debtor-in-
       possession" check.

     * Sufficient evidence of current insurance coverage
       including a declaration stating that the debtor has all
       applicable customary insurance required to operate.

     * Proof of required certificates and/or applicable licenses.

     * A list of insiders as defined at 11 U.S.C. Section 101(31).

     * A physical inventory as of the date of filing of the
       Petition.

     * Monthly Operating Report(s) for September and October 2011.

     * The Monthly Operating Report for November 2011 will be due
       by the date of this hearing.

Loan Exchange Group filed a Chapter 11 petition (Bankr. C. D.
Calif. Case No. 11-21085) on Sept. 16, 2011, in San Fernando
Valley, California, Marc A. Duxbury, Esq., at County Law Center,
in Carlsbad, Calif., serves as counsel to the Debtor.  The Debtor
disclosed $12,050,570 in assets and $5,170,968 in liabilities as
of the Chapter 11 filing.


LODGENET INTERACTIVE: Mast Capital Discloses 9.6% Equity Stake
--------------------------------------------------------------
In a Schedule 13D filing with the U.S. Securities and Exchange
Commission, Mast Capital Management, LLC, and its affiliates
disclosed that, as of Nov. 23, 2011, they beneficially own
2,421,815 shares of common stock of LodgeNet Interactive
Corporation representing 9.6% of the shares outstanding.  A full-
text copy of the filing is available for free at:

                        http://is.gd/KavKcw

                    About LodgeNet Interactive

Sioux Falls, South Dakota-based LodgeNet Interactive Corporation
(Nasdaq:LNET), formerly LodgeNet Entertainment Corp. --
http://www.lodgenet.com/-- provides media and connectivity
solutions designed to meet the unique needs of hospitality,
healthcare and other guest-based businesses.  LodgeNet Interactive
serves more than 1.9 million hotel rooms worldwide in addition to
healthcare facilities throughout the United States.  The Company's
services include: Interactive Television Solutions, Broadband
Internet Solutions, Content Solutions, Professional Solutions and
Advertising Media Solutions.  LodgeNet Interactive Corporation
owns and operates businesses under the industry leading brands:
LodgeNet, LodgeNetRX, and The Hotel Networks.

The Company also reported a net loss of $1.78 million on
$321.21 million of total revenues for the nine months ended
Sept. 30, 2011, compared with a net loss of $7.32 million on
$344.91 million of total revenues for the same period during the
prior year.

The Company's balance sheet at Sept. 30, 2011, showed $408.96
million in total assets, $460.01 million in total liabilities and
a $51.05 million total stockholders' deficiency.

                           *     *     *

Lodgenet carries a 'B3' long term corporate family rating and a
'Caa1' probability of default rating, with 'stable' outlook, from
Moody's.  It has 'B' long term foreign and local issuer credit
ratings, with 'stable' outlook, from Standard & Poor's.

"In Moody's opinion, continued cautious investment from LodgeNet's
hotel customers will hamper intermediate term growth in its core
hospitality services business, and over the long term competing
forms of entertainment will pressure this revenue stream as the
company seeks to defend its relevance to both hotel operators and
hotel guests.  The B3 corporate family rating incorporates these
weak growth prospects, mitigated somewhat by the company's
moderately high financial risk profile and demonstrated capacity
to generate positive free cash flow throughout challenging
economic conditions, along with a measure of stability from the
monthly fees it receives from hotels regardless of occupancy,"
Moody's said in October 2010.


LOEHMANN'S HOLDINGS: Strikes Settlement of Wage-And-Hour Action
---------------------------------------------------------------
Abigail Rubenstein at Bankruptcy Law360 reports that Loehmann's
Holdings Inc. last week Tuesday asked a New York bankruptcy court
to bless a $1.3 million settlement with a class of 2,500
California workers in a lawsuit accusing the discount retailer of
wage-and-hour violations.

In a lawsuit lodged in California Superior Court in Los Angeles
County in March 2010, before Loehmann's sought Chapter 11
protection, former store employee Tiana Daniels alleged numerous
violations of state labor laws on behalf of herself and a putative
class of other California employees, Law360 relates.

                         About Loehmann's Holdings

Bronx, New York-based Loehmann's Holdings, Inc., is a discount
retailer with more than 60 stores.  The Bronx, New York-based
company is owned indirectly by Istithmar PJSC, an investment firm
owned by the government of Dubai.

Loehmann's filed for Chapter 11 bankruptcy protection on
November 15, 2010 (Bankr. S.D.N.Y. Case No. 10-16077).  It
estimated its assets and debts at $100 million to $500 million.

Affiliates Loehmann's Inc. (Bankr. S.D.N.Y. Case No. 10-16078),
Loehmann's Operating Co. (Bankr. S.D.N.Y. Case No. 10-16079),
Loehmann's Real Estate Holdings, Inc. (Bankr. S.D.N.Y. Case No.
10-16080), and Loehmann's Capital Corp. (Bankr. S.D.N.Y. Case No.
10-16081) filed separate Chapter 11 petitions.

Frank A. Oswald, Esq., at Togut, Segal & Segal LLP, assisted the
Debtors in their restructuring efforts.  Perella Weinberg Partners
LP served as the Debtors' investment banker and financial advisor.
Clear Thinking Group LLC served as the Debtors' restructuring
adviser.  Troutman Sanders LLP served as the Debtor's special
corporate counsel.  Kurtzman Carson Consultants LLC served as the
Debtors' claims and notice agent.

Mark S. Indelicato, Esq., Mark T. Power, Esq., and Janine M.
Cerbone, Esq., at Hahn & Hessen LLP, in New York, served as
counsel for the Official Committee of Unsecured Creditors.

In March 2011, Loehmann's Holdings, Inc. and its affiliates
successfully completed its restructuring and has emerged from
Chapter 11 bankruptcy proceedings.  The Company secured $45
million in exit financing from Wells Fargo Bank, N.A. and
Whippoorwill Associates, Inc., as agent for its discretionary
funds and accounts.


LOS ANGELES DODGERS: Fox Sports Wants Chapter 11 Case Dismissed
---------------------------------------------------------------
Fox Sports Net West 2, LLC, doing business as Prime Ticket,
asks the Bankruptcy Court to dismiss the chapter 11 cases of
Los Angeles Dodgers LLC (LAD) for lack of good faith.

Gregory Werkheiser, Esq., at Morris Nichols Arsht & Tunnell LLP,
representing Prime Ticket, tells the Court that the Dodgers'
bankruptcy cases fail the test of good faith and should be
dismissed with prejudice.

According to Fox Sports, the bankruptcy cases essentially
consisted of a bitter two-party dispute between Major League
Baseball (MLB) and the McCourt-controlled Debtors.

"Now that the Debtors and MLB have resolved their differences,
these Bankruptcy Cases have devolved into nothing more than a
vehicle for Mr. McCourt to induce the Debtors to breach Prime
Ticket's Telecast Agreement to extract yet more value from the
Debtors for Mr. McCourt's benefit, not for the benefit of the
Debtors or creditors," Mr. Werkheiser asserts.

"With the settlement with MLB and the impending sale of the
Dodgers, it is time for Mr. McCourt to stand down.  The team can
and will be sold for a handsome price with Prime Ticket's Telecast
Agreement intact."

Fox Sports claims that as for future telecast rights, there are
two legitimate options: 1) McCourt can honor the future telecast
rights agreement reached with Prime Ticket just before the
bankruptcy, whose terms Prime Ticket believes MLB has now
approved, or 2) Mr. McCourt can step aside and allow the new owner
of the Dodgers to negotiate its own future telecast rights deal,
unfettered by his interference.  Neither option requires these
Bankruptcy Cases to continue, says Mr. Werkheiser.

Fox Sports Net West 2, LLC, is represented by:

         Robert I. Dehney, Esq.
         Gregory W. Werkheiser, Esq.
         MORRIS, NICHOLS, ARSHT & TUNNELL LLP
         1201 N. Market Street
         Wilmington, Delaware 19899
         Tel: (302) 658-9200
         Fax: (302) 658-3989

               - and -

         Paul J. Laurin, Esq.
         C. John M. Melissinos, Esq.
         RUTTER HOBBS & DAVIDOFF INCORPORATED
         1901 Avenue of the Stars, 17th Floor
         Los Angeles, California 90067
         Tel: (310) 286-1700
         Fax: (310) 286-1728

               - and -

         Richard L. Stone, Esq.
         Kenneth D. Klein, Esq.
         JENNER & BLOCK LLP
         633 West 5th Street, Suite 3600
         Los Angeles, California 90071
         Tel: (213) 239-5100
         Fax: (213) 239-5199

                  About Los Angeles Dodgers

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

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

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

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

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

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

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

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

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


LOS ANGELES DODGERS: Committee Opposes "Long" Plan Extension
------------------------------------------------------------
The Official Committee of Unsecured Creditors in Los Angeles
Dodgers' Chapter 11 cases objects to the Dodgers' motion to extend
the exclusive periods to file a Chapter 11 plan and solicit
acceptances thereof.

Kevin M. Capuzzi, Esq., at Pinckney Harris & Weidinger LLC,
representing the Committee, notes that the Motion seeks a six-
month extension of the exclusive periods, which goes beyond
opening day of the new MLB season.  While the Committee is already
on record as supporting an extension, the proposed extension is
too long.  A more reasonable extension of 14 weeks -- setting the
expiration of the exclusive filing period at Jan. 31, 2012 -- will
keep the parties incentivized to confirm a plan and go effective
by Opening Day.

The Motion was filed prior to the announcement that a settlement
had been reached between the Debtors and MLB as to how the case
will unfold moving forward.  Subject to a careful review of the
settlement, which has yet to be filed with the Court, and any
proposed dates arising out of such settlement, the Committee
supports the parties' efforts to reach a consensual resolution of
the complicated and contentious issues in the Chapter 11 cases.
However, as a fiduciary for unsecured creditors, the Committee is
concerned about the repercussions for its constituents if the
settlement stalls or the parties' ability to move forward with a
plan is otherwise stymied.

The Committee submits that the Court should revisit exclusivity at
the end of January 2012 and determine whether (a) a further
extension is likely to bring a consensual plan process to
conclusion or (b) continued exclusivity will instead unnecessarily
delay the ability of third parties to propose an alternative path
should a consensual plan process appear doubtful.  Accordingly,
the Committee suggests that the Exclusive Filing Period be
extended through Jan. 31, 2012, at which point the Court will be
in a position to evaluate whether an additional extension is
warranted.

The Committee is represented by:

         Donna L. Harris, Esq.
         Joanne P. Pinckney, Esq.
         Kevin M. Capuzzi, Esq.
         PINCKNEY HARRIS & WEIDINGER LLC
         1220 North Market Street, Suite 950
         Wilmington, Delaware 19801
         Tel: (302) 504-1497
         Fax: (302) 442-7046

- and -

         Brett H. Miller, Esq.
         Lorenzo Marinuzzi, Esq.
         Todd M. Goren, Esq.
         MORRISON & FOERSTER LLP
         1290 Avenue of the Americas
         New York, New York 10104
         Tel: (212) 468-8000
         Fax: (212) 468-7900

                  About Los Angeles Dodgers

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

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

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

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

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

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

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

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

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


MAJESTIC CAPITAL: A.M. Best Downgrades FSR to 'C-'
--------------------------------------------------
A.M. Best Co. has downgraded the financial strength rating (FSR)
to C- (Weak) from C+ (Marginal) and issuer credit rating (ICR) to
"cc" from "b-" of Twin Bridges (Bermuda) Ltd. (Twin Bridges)
(Hamilton, Bermuda).  At the same time, A.M. Best has downgraded
the ICRs to "d" from "c" of Twin Bridges' ultimate parent,
Majestic Capital, Ltd (Majestic Capital) (Hamilton, Bermuda), as
well as Majestic Capital's intermediate holding companies,
Embarcadero Insurance Holdings, Inc. (Embarcadero) (San Francisco,
CA) and Majestic USA Capital, Inc. (Majestic USA) (Wilmington,
DE).  A.M. Best also has affirmed all debt ratings of Embarcadero
and Majestic USA.  The FSR and ICRs have been removed from under
review with negative implications and assigned a negative outlook.
Subsequently, A.M. Best has withdrawn all ratings in response to
management's request to no longer participate in A.M. Best's
interactive rating process.  (See below for a detailed listing of
the debt ratings.)

The rating actions on Majestic Capital, Embarcadero and Majestic
USA reflect each company's filing for bankruptcy.  Twin Bridges'
ratings reflect Majestic Capital's bankruptcy and the
uncertainties surrounding its current financial condition as the
most recent financial statements provided by management were as of
year-end 2010.

The following debt ratings have been withdrawn:

Majestic USA Holdings, Inc.?
-- "d" on $35 million 8.65% junior subordinated debt securities,
due 2036

Embarcadero Insurance Holdings, Inc.?
-- "d" on $8 million LIBOR + 4.2% surplus notes, due 2033


MARITIME COMMS: Files Schedules of Assets and Liabilities
---------------------------------------------------------
Maritime Communications/Land Mobile LLC filed with the U.S.
Bankruptcy Court for the District of New Jersey its schedules of
assets and liabilities, disclosing:

    Name of Schedule              Assets        Liabilities
    ----------------            -----------     -----------
A. Real Property                   $12,500
B. Personal Property           $46,530,251
C. Property Claimed as
    Exempt
D. Creditors Holding
    Secured Claims                              $18,790,111
E. Creditors Holding
    Unsecured Priority
    Claims                                         $252,854
F. Creditors Holding
    Unsecured Non-priority
    Claims                                      $12,197,999
                                -----------     -----------
       TOTAL                    $46,542,751     $31,240,965

                    About Maritime Communications

Maritime Communications/Land Mobile, LLC, owns and operates
numerous licenses for wireless and cellular services.  Its assets
primarily include Federal Communications licenses.  The Company
filed a Chapter 11 petition (Bankr. N.D. Miss. Case No. 11-13463)
on Aug. 1, 2011, in Aberdeeen, Mississippi.  Harris Jernigan &
Geno PLLC serves as the counsel to the Debtor.  In its schedules,
the Debtor disclosed $47,649,673 in assets, and $31,252,752 in
liabilities as of the petition date.

The United States Trustee for Region 5 appointed three members to
comprise the Official Committee of Unsecured Creditors.


MARKETING WORLDWIDE: James Davis Resigns as CFO
-----------------------------------------------
James E. Davis, Marketing Worldwide Corporation's Chief Financial
Officer since Oct. 10, 2009, submitted his resignation.  The
resignation was not because of any disagreements on any matter
related to the Company's operations, policies, or practices.
Mr. Charles Pinkerton, the Company's Chief Executive Officer since
July 20, 2010, will perform the additional functions of principal
financial officer for the Company until a replacement is hired.

                     About Marketing Worldwide

Based in Howell, Michigan, Marketing Worldwide Corporation
operates through the holding company structure and conducts its
business operations through its wholly owned subsidiaries
Colortek, Inc., and Marketing Worldwide, LLC.

Marketing Worldwide, LLC, is a complete design, manufacturer and
fulfillment business providing accessories for the customization
of vehicles and delivers its products to large global automobile
manufacturers and certain Vehicle Processing Centers primarily in
North America.  MWW operates in a 23,000 square foot leased
building in Howell Michigan.

Colortek, Inc., is a Class A Original Equipment painting facility
and operates in a 46,000 square foot owned building in Baroda,
which is in South Western Michigan.  MWW invested approximately
$2 million into this paint facility and expects the majority of
its future growth to come from this business.

As reported in the Troubled Company Reporter on Jan. 24, 2011,
Marcum LLP, in New York, expressed substantial doubt about
Marketing Worldwide's ability to continue as a going concern,
following the Company's results for the fiscal year ended
Sept. 30, 2010.  The independent auditors noted that the Company
has a working capital deficiency and has suffered substantial
recurring losses from operations.

The Company also reported a net loss of $1.12 million on
$1.31 million of revenue for the nine months ended June 30, 2011,
compared with a net loss of $1.34 million on $3.22 million of
revenue for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed $1.66 million
in total assets, $5.23 million in total liabilities, $3.50 million
in Series A convertible preferred stock, and a $7.07 million total
stockholders' deficiency.


MEDYTOX SOLUTIONS: Reports $820,400 Net Income in 3rd Quarter
-------------------------------------------------------------
Medytox Solutions Inc. filed its quarterly report on Form 10-Q,
reporting net income of $820,450 on $2.6 million of revenues for
the three months ended Sept. 30, 2011, compared with a net loss of
$124,219 on $4,375 of revenues for the same period in 2010.

The Company reported net income of $770,420 on $2.6 million of
revenues for the nine months ended Sept. 30, 2011, compared with a
net loss of $283,330 on $16,468 of revenues for the same period
last year.

The Company's balance sheet at Sept. 30, 2011, showed $3.1 million
in total assets, $2.4 million in total liabilities, and
stockholders' equity of $678,942.

The Company has an accumulated deficit of $404,566 as of Sept. 30,
2011, and has a negative cash flow from operations of $447,916 for
the nine months ended Sept. 30, 2011.  "This raises doubt about
the Company's ability to continue as a going concern," the Company
said in the filing.

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

                       http://is.gd/CR60oY

West Palm Beach, Florida-based Medytox Solutions Inc. operates a
medical testing laboratory, a medical billing service, a marketing
firm for medical monitoring software and services and corporate
offices.


METAL STORM: Shareholders Meeting Set for Dec. 8
------------------------------------------------
Metal Storm Limited will hold a meeting of shareholders at the
Brisbane Room, Management House, Australian Institute of
Management, cnr Boundary & Rosa Streets, Spring Hill, Brisbane on
Dec. 8, 2011, commencing at 10:00 am Brisbane time.

The following proposals will be considered at the Annual Meeting:

   (1) Approval of issue of the ASOF Convertible Security to ASOF;

   (2) Approval of previous issue of Commencement Fee Shares to
       ASOF;

   (3) Approval of previous issue of Shares to Andrew Doyle; and

   (4) Approval of issue of Shares to Dutchess under Line
       Agreement;

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

                       http://is.gd/0qRsm3

                        About Metal Storm

Headquartered in Darra, Queensland, Australia, Metal Storm Limited
is a defense technology company with offices in Australia and the
United States.  It specializes in the research, design,
development and integration of projectile launching systems
utilizing its "electronically initiated / stacked projectile"
technology for use in the defense, homeland security, law
enforcement and industrial markets.

As reported by the TCR on July 25, 2011, PricewaterhouseCoopers,
in Brisbane, Australia, expressed substantial doubt about Metal
Storm's ability to continue as a going concern.  The independent
auditors noted that the Company has suffered recurring losses from
operations and has a net capital deficiency.

The Company reported a net loss of A$8.94 million on
A$3.35 million of revenue for 2010, compared with a net loss of
A$11.31 million on A$1.11 million of revenue for 2009.

The Company's balance sheet at Dec. 31, 2010, showed
A$2.15 million in total assets, A$20.64 million in total
liabilities, all current, and an equity deficit of
A$18.49 million.


MISCOR GROUP: Reports $351,000 Net Income in Third Quarter
----------------------------------------------------------
MISCOR Group, Ltd., filed its quarterly report on Form 10-Q,
reporting net income of $351,000 on $8.5 million of revenues for
the three months ended Oct. 2, 2011, compared with a net loss of
$1.0 million on $8.0 million of revenues for the three months
ended Oct. 3, 2010.

The Company reported net income of $1.1 million on $26.0 million
of revenues for the nine months ended Oct. 2, 2011, compared with
a net loss of $2.8 million on $25.1 million of revenues for the
nine months ended Oct. 3, 2010.

The Company's balance sheet at Oct. 2, 2011, showed $25.8 million
in total assets, $14.9 million in total liabilities, and
stockholders' equity of $10.9 million.

As reported in the TCR on April 26, 2011, BDO USA, LLP, in
Kalamazoo, Michigan, expressed substantial doubt about MISCOR
Group'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 from operations and has
significant debt service obligations that mature prior to Dec. 31,
2011, which cannot currently be met.

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

                       http://is.gd/hi9XWI

Massillon, Ohio-based MISCOR Group, Ltd., provides electro-
mechanical repair and maintenance solutions to industrial
customers primarily in the United States.  Services include
repair, maintenance and remanufacturing of electric motors for the
steel, rail, and renewable energy industries from five locations
in the Midwest and California; repair and manufacture of
industrial lifting magnets for the steel and scrap industries from
two locations in the Midwest; and manufacturing and
remanufacturing of power assemblies, engine parts and other
components related to large diesel engines from two locations on
the East Coast.


MONEYGRAM INT'L: Inks 6th Supplemental Indenture with DBTCA
-----------------------------------------------------------
MoneyGram Payment Systems Worldwide, Inc., on Nov. 21, 2011,
entered into the Sixth 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 Sixth Supplemental Indenture 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 the aggregate principal amount
of Second Lien Notes redeemed in connection with such redemptions
may not exceed the greater of (i) $175.0 million and (ii) the
aggregate cash proceeds received in all Qualified Equity Offerings
by the Company or any participating selling stockholders.

n Nov. 21, 2011, Worldwide, as borrower, the Company, MoneyGram
Payment Systems, Inc., and MoneyGram of New York LLC, entered into
the First Incremental Amendment and Joinder Agreement with Bank of
America, N.A., as administrative agent, and the financial
institutions party thereto as lenders which amends and restates in
its entirety the First Incremental Amendment and Joinder Agreement
dated Nov. 14, 2011, among Worldwide, the Company, MPSI, MNY, the
Administrative Agent and the Tranche B-1 Lenders named therein.
The Incremental Amendment amends certain provisions of the
Original Incremental Amendment relating to the amount of gross
proceeds to be funded to Worldwide upon the satisfaction of the
conditions precedent set forth in the Incremental Amendment and
replaces the reference to the Fifth Supplemental Indenture therein
with a reference to the Sixth Supplemental Indenture.

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 Sixth 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.

A full-text copy of the Sixth Supplemental Indenture is available
for free at http://is.gd/gyt38C

A full-text copy of the First Incremental Amendment and Joinder
Agreement is available for free at http://is.gd/gQts2z

                    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: Closes Secondary Offering of 9.2 Million Shares
----------------------------------------------------------------
MoneyGram International, Inc., has closed the previously announced
underwritten secondary public offering of an aggregate of
9,250,000 shares of MoneyGram's common stock by affiliates and co-
investors of Thomas H. Lee Partners, L.P., and affiliates of
Goldman, Sachs & Co., at a public offering price of $16.25 per
share.  The selling stockholders have also granted the
underwriters a 30-day option to purchase up to an additional
1,387,500 shares of common stock.  MoneyGram did not receive any
proceeds from the offering.

Morgan Stanley, Goldman, Sachs & Co., BofA Merrill Lynch, J.P.
Morgan and Wells Fargo Securities served as book running managers
for the offering.  William Blair & Company, Morgan Keegan and
Piper Jaffray acted as co-managers.

MoneyGram also announced that in conjunction with the completion
of the secondary offering, MoneyGram made a partial redemption of
its 13.25% Senior Secured Second Lien Notes due in 2018, held by
affiliates of Goldman, Sachs & Co, in a principal amount equal to
$175 million.  The partial redemption was made at a redemption
price of 113.25%.  MoneyGram financed this redemption with a
combination of cash and $150 million in borrowings under its new
incremental credit facility, provided by a syndicate of lenders,
which is additive to the First Lien Senior Credit Facility
currently outstanding.

                   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: Has Chapter 11 Trustee and Cash Use
-----------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Southern Montana Electric Generation & Transmission
Cooperative Inc. bent to the request of the U.S. Trustee by
agreeing to the appointment of a Chapter 11 trustee.  According to
the report, at a hearing last week where the bankruptcy judge in
Butte, Montana authorized having a trustee, the court also gave
interim approval to use cash representing collateral for $85
million in mortgages.  A final hearing on cash collateral use will
be held Dec. 20.

                      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.


MOORE SORRENTO: Hearing Exclusivity Extensions Set for Dec. 13
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas will
convene a hearing on Dec. 13, 2011, at 1:30 p.m., to consider
Moore Sorrento, LLC's exclusivity extension request.  Objections,
if any are due Dec. 12.

The Debtor is asking the Court to extend its exclusive periods to
file and solicit acceptances for a Plan of Reorganization until
March 14, 2012, and May 13, 2012, respectively.

The Debtor explained that it is gathering and preparing
information in support of and in relation to the plan, and will
file first amended versions of the Plan on and the Disclosure
Statement.  A hearing to consider adequacy of the Disclosure
Statement is scheduled for Nov. 30, 2011.

The Debtor noted that it has not engaged in significant
negotiations with creditors concerning the terms of the Plan.
However, the Plan provides that the allowable amount of claims, if
any, of the Debtor's largest creditor -- Wells Fargo Bank, N.A. --
will be determined through the lawsuit.  The Plan further provides
for the full payment of all creditor claims.

The Debtor's exclusive right to file a Plan will expire Dec. 15.

                       About Moore Sorrento

Hurst, Texas-based Moore Sorrento, LLC, owns real property located
in Moore, Oklahoma, commonly known as the Shops at Moore, which
the Company operates as a retail shopping center.  The center's
current 23 tenants offer various goods and services to retail
customers.

Moore Sorrento filed Chapter 11 bankruptcy protection (Bankr. N.D.
Tex. Case No. 11-44651) on Aug. 17, 2011.  J. Robert Forshey,
Esq., and Matthew G. Maben, Esq., at Forshey & Prostok, LLP, in
Fort Worth, Tex., serve as the Debtor's counsel.  In its
schedules, Moore Sorrento disclosed assets of $43,259,900 and
liabilities of $42,262,158 as of the Petition Date.

As reported in the TCR on Oct. 20, 2011, Moore Sorrento delivered
a plan of reorganization and disclosure statement dated Oct. 3,
2011, to the U.S. Bankruptcy Court for the Northern District of
Texas.

All classes of claims and interests are estimated to have 100%
recovery under the Plan.

No creditors' committee has been appointed in the case.  Further,
no trustee or examiner has been requested or appointed in the
case.


MOUNTAIN NATIONAL: Enters Into Written Consent with FRB
-------------------------------------------------------
The Federal Reserve Bank of Atlanta entered into a Written
Agreement with Mountain National Bancshares, Inc., effective as of
Nov. 16, 2011.  Among other things, the Company has agreed with
the FRB that:

   (i) its board of directors will take appropriate steps to fully
       utilize the Company's financial and managerial resources to
       serve as a source of strength to Mountain National Bank,
       including, but not limited to, taking steps to ensure that
       the Bank complies with the Formal Agreement entered into
       with the Office of the Comptroller of the Currency on
       June 2, 2009, and any other supervisory action taken by the
       OCC;

  (ii) the Company will not declare or pay any dividends without
       the prior written approval of the FRB and the Director of
       the Division of Banking Supervision and Regulation of the
       Board of Governors of the Federal Reserve System;

(iii) the Company will not directly or indirectly take dividends
       or any other form of payment representing a reduction in
       capital from the Bank without the prior written approval of
       the FRB;

  (iv) the Company and its nonbank subsidiaries will not make any
       distributions of interest, principal, or other sums on
       subordinated debentures or trust preferred securities
       without the prior written approval of the FRB and the
       Director;

   (v) the Company and its nonbank subsidiaries will not, directly
       or indirectly, incur, increase, or guarantee any debt
       without the prior written approval of the FRB;

  (vi) the Company will not, directly or indirectly, purchase or
       redeem any shares of its stock without the prior written
       approval of the FRB; and

(vii) within 60 days of this Agreement, the Company will submit
       to the FRB an acceptable written plan to maintain
       sufficient capital at the Company on a consolidated basis.

The Company is also required to comply with certain notice and
approval requirements in connection with director and senior
executive officer appointments and is subject to certain
restrictions on indemnification and severance payments.  In
addition, the Company must submit quarterly progress reports to
the FRB.

A full-text copy of the Written Agreement is available at no
charge at http://is.gd/NJhEZg

                       About Mountain National

Mountain National is a bank holding company registered with the
Board of Governors of the Federal Reserve System under the Bank
Holding Company Act of 1956, as amended.  The Company provides a
full range of banking services through its banking subsidiary,
Mountain National Bank.

The Company conducts its banking activities from its main office
located in Sevierville, Tennessee and through eight additional
branch offices in Sevier County, Tennessee, as well as a regional
headquarters and two branch offices in Blount County, Tennessee.

The Company's balance sheet at June 30, 2011, showed
$521.40 million in total assets, $509.90 million in total
liabilities, and stockholders equity of $11.50 million.

The Company and its principal subsidiary, Mountain National Bank,
are subject to various regulatory capital requirements
administered by the federal banking agencies.

In February 2010, the Bank agreed to an Office of the Comptroller
of the Currency ("OCC") minimum capital requirement ("IMCR") to
maintain a minimum Tier 1 capital to average assets ratio of 9%
and a minimum total capital to risk-weighted assets ratio of 13%.

The Bank had 4.61% of Tier 1 capital to average assets and 7.69%
of total risk-based capital to risk-weighted assets ratio at
June 30, 2011, and was therefore not in compliance with the IMCR.
As a result, the OCC may bring additional enforcement actions,
including a consent order or a capital directive, against the
Bank.

Based upon its capital levels at June 30, 2011, the Bank's capital
shortfall was approximately $23,374,000 for the Tier 1 capital to
average assets requirement and approximately $20,342,000 for the
total capital to risk-weighted assets requirement.


MONEYGRAM INT'L: New Form of Restricted Stock Unit Award Okayed
---------------------------------------------------------------
The Human Resources and Nominating Committee of the Board of
Directors of MoneyGram International, Inc., approved and adopted a
new form of (1) global performance restricted stock unit award
agreement and (2) global stock option agreement.  The foregoing
agreements may be used from time to time in connection with awards
issued under the Company's 2005 Omnibus Incentive Plan.

On Nov. 17, 2011, the HRNC also approved grants of awards of
performance restricted stock units and stock options to the
Company's executive officers and certain other key employees.  In
particular, the following awards were granted to each of the
Company's principal executive officer, principal financial officer
and other named executive officers:

Name                 Title                       RSUs   Options
----                 -----                      ------  -------
Pamela H. Patsley    Chairman CEO               14,670   27,530
James E. Shields     EVP and CFO                 4,400    8,250
Lucas J. Wimer       EVP, Operations & Tech.     4,400    8,250
Timothy C. Everett   EVP, Gen. Counsel, & Sec.   5,130    9,630

These awards were granted under the 2005 Plan and are made
pursuant to a longer-term incentive program approved by the HRNC
that provides for annual grants of time-based and performance-
based equity awards for key employees, rather than the Company's
prior practice of granting larger individual awards to certain
executives at their time of hire or upon promotion, which had been
intended to be in lieu of routine annual grants.

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

                        http://is.gd/3T6rnQ

                   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.


MUSCLEPHARM CORP: Authorized Common Shares Hiked to 750 Million
---------------------------------------------------------------
MusclePharm Corporation, on Nov. 17, 2011, filed an amendment to
the Company's articles of incorporation with the Secretary of
State of the State of Nevada to increase the Company's authorized
common stock from 500,000,000 to 750,000,000 shares of common
stock, par value $0.001 per share.  A full-text copy of the
amendment is available for free at http://is.gd/uY6EDc

                         About MusclePharm

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

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

The Company also reported a net loss of $12.33 million on
$13.07 million of sales for the nine months ended Sept. 30, 2011,
compared with a net loss of $8.67 million on $3.13 million of
sales for the same period a year ago.

The Company's balance sheet at Sept. 30, 2011, showed
$5.71 million in total assets, $10.86 million in total
liabilities, and a $5.14 million total stockholders' deficit.


NORTHWEST G.F. MUTUAL: A.M. Best Downgrades FSR to 'B-'
-------------------------------------------------------
A.M. Best Co. has downgraded the financial strength rating to B-
(Fair) from B+ (Good) and issuer credit rating to "bb-" from "bbb-
" of Northwest G. F. Mutual Insurance Company (Northwest) (Eureka,
SD).  The outlook for both ratings is negative.

The rating downgrades for Northwest are due to its decline in
overall risk-adjusted capitalization and its continued poor
underwriting operating performance.  In recent years, the company
has been impacted by frequent and severe weather related events as
well as the financial crisis in 2008.  As a result, pre-tax
operating losses and negative net income have been reported for
three consecutive years with this trend continuing in 2011.
Significant surplus declines were reported in 2008, 2010 as well
as through the third quarter of 2011, when the company's surplus
declined an additional 37.5% with the combined ratio escalating to
124.9%.  These results primarily are due to significant
underwriting losses caused by frequent tornado/hail storms in
Northwest's core operating territories of the Dakotas.

In recent years, Northwest's ongoing negative underwriting
performance has mainly derived from frequent weather-related
losses, which continue to hinder its capital position.

These losses combined with the company's recent growth in premium
writings have resulted in an erosion of its risk-adjusted capital
position and an increase in its underwriting leverage ratios.
Northwest has implemented several corrective actions to improve
profitability, which include policy count reduction, curtailing of
writing policies in more catastrophe prone areas, increase rates
and tighten underwriting standards.  However, if Northwest's
negative trends in declining overall risk-adjusted capitalization
and adverse operating performance continue it could result in
further deterioration of the company's ratings as reflected by the
continuation of the negative outlook.

Conversely, there could be positive movement in the current
ratings and/or outlook if there were a sustained turnaround in the
currently poor underwriting and operating results, along with a
sustained improvement in the company's risk-adjusted capital
position.


POSITIVEID CORPORATION: Posts $6.3-Mil. 3rd Qtr. Net Loss
---------------------------------------------------------
PositiveID Corporation filed its quarterly report on Form 10-Q,
reporting a net loss of $6.3 million on $0 revenue for the three
months ended Sept. 30, 2011, compared with a net loss of
$3.8 million on $0 revenue for the same period in 2010.

The Company reported a net loss of $12.1 million on $0 revenue for
the nine months ended Sept. 30, 2011, compared with a net loss of
$11.5 million on $75,000 of revenue for the same period last year.

The Company's balance sheet at Sept. 30, 2011, showed $3.0 million
in total assets, $6.2 million in total liabilities, and a
stockholders' deficit of $3.2 million.

As of Sept. 30, 2011, the Company had a working capital deficiency
of approximately $1.4 million and an accumulated deficit of
approximately $82 million.

"The Company has incurred operating losses prior to and since the
merger that created PositiveID," the Company said in the filing.
"The Company expects its operating losses to continue through
2012."

The Company believes the foregoing conditions, among others, raise
substantial doubt about the Company's ability to continue as a
going concern.

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

                       http://is.gd/yeguue

Delray Beach, Fla.-based PositiveID Corporation (OTC BB: PSID) is
a technology development company with two divisions: HealthID and
MicroFluidic Systems.  HealthID develops unique medical devices,
focused primarily on diabetes management, and MicroFluidic Systems
develops molecular diagnostic systems, focused primarily on bio-
threat detection products.


PREMIER TRAILER: DIP Loan Termination Date Extended Until Today
---------------------------------------------------------------
The Hon. Brendan L. Shannon of the U.S. Bankruptcy Court for the
District of Delaware approved a stipulation entered between
Premier Trailer Leasing, Inc., et al., and Garrison Loan Agency
Services LLC, as administrative agent, extending until today,
Nov. 28, 2011, the commitment termination date in the final DIP
order.

On Oct. 5, 2011, the Court entered its final order (i) authorizing
incurrence by the Debtors of postpetition secured indebtedness
with priority over all secured indebtedness and with
administrative superpriority; (ii) granting liens; (iii)
authorizing use of cash collateral.  The final DIP order contains
a commitment termination date as of Oct. 24, 2011.

                  About Premier Trailer Leasing

Founded in 2005, PTL Holdings LLC and Premier Trailer Leasing,
Inc., provide semi-trailer rentals, specializing in road-ready
semi-vans and flatbeds for the mid-market segment of the
transportation industry.  Headquartered in Grapevine, Texas, they
operate their business out of 19 branches in 15 different states
in the United States.

PTL Holdings and Premier sought bankruptcy protection (Bankr. D.
Del. Lead Case No. 11-12676) on Aug. 23, 2011.  Brendan Linehan
Shannon presides over the case.  Pachulski Stang Ziehl & Jones LLP
serves as the Debtors' bankruptcy counsel.  Kurtzman Carson
Consultants, LLC, serves as claims and noticing agent.  PTL
Holdings estimated $100 million to $500 million in assets and
debts.  The petitions were signed by Scott J. Nelson, chief
executive officer.

Garrison Loan Agency Services LLC, the administrative agent under
the First Lien Credit Agreement, is represented by Proskauer Rose
LLP.  Second lien lender Fifth Street Mezzanine Partners III,
L.P., is represented by Young Conaway Stargatt & Taylor LLP and
Kramer Levin Naftalis & Frankel LLP.

On the Petition Date, the Debtors filed a Prepackaged Plan.  The
primary purpose of the Plan is to effectuate the restructuring and
substantial de-leveraging of the Debtors' capital structure in
order to bring it into alignment with the Debtors' present and
future operating prospects and to provide the Debtors with greater
liquidity.  The Plan gives the First Lien Lenders, owed $84
million, 100% of the equity of reorganized Premier in exchange for
the discharge of obligations owed under the First Lien Credit
Agreement.  Holders of Second Lien Credit Agreement Claims, worth
$27,100,000, and holders of general unsecured claims, worth
$550,000, will get nothing.

A statutory committee of unsecured creditors has not been
appointed in the Debtors' cases.


PROBE MANUFACTURING: Reports $39,638 3rd Quarter Net Income
-----------------------------------------------------------
Probe Manufacturing, Inc., filed its quarterly report on Form
10-Q, reporting net income of $39,638 on $1.2 million of sales for
the three months ended Sept. 30, 2011, compared with net income of
$12,683 on $763,561 of sales for the same period last year.

The Company reported net income of $96,579 on $3.3 million of
sales for the nine months ended Sept. 30, 2011, compared with net
income of $243,214 on $2.0 million of sales for the same period of
2010.  Included in the results for 2010 was a one time gain on the
settlement of the CIT lease of $190,960.

The Company's balance sheet at June 30, 2011, showed $1.5 million
in total assets, $1.2 million in total liabilities, and
stockholders' equity of $305,015.

"Although for the nine months ended Sept. 30, 2011, we had a net
profit of $96,579, a working capital surplus of $156,508 and a
shareholder surplus of $355,549; we had an accumulated deficit of
$(232,843), our ability to operate as a going concern is still
dependent upon our ability (1) to obtain sufficient debt and/or
equity capital and/or (2) continue to generate positive cash flow
from operations and maintain profitability," the Company said in
the filing.

W. T. Uniack & Co. CPA's P.C., in Woodstock, Georgia, expressed
substantial doubt about Probe Manufacturing's ability to continue
as a going concern, following the Company's 2010 results.  The
independent auditors noted that the Company has an accumulated
deficit of $329,422 and is dependent on at least maintaining
current revenue levels.

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

                       http://is.gd/8XBscl

Based in Irvine, Calif., Probe Manufacturing, Inc., provides a
range of engineering, manufacturing and business services to
companies who design and market electronic products, original
equipment manufacturers (OEMs).  Revenue is generated from sales
of services primarily to customers in the medical device,
aerospace, automotive, industrial and instrumentation product
manufacturers.


QUALTEQ INC: Authorized to Pay $1.9-Mil. to Critical Vendors
------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized,
on a final basis, Qualteq Inc., et al., to pay certain prepetition
claims of critical vendors in an aggregate amount not to exceed
$1.9 million.

The Court also authorized the Debtors to declare a Trade Agreement
with an individual critical vendor to have terminated, together
with the other benefits to the critical vendor.

The banks and financial institutions are authorized and directed
to receive, process, honor, and pay all checks presented for
payment, and to honor all funds transfer request made by the
Debtors related to the critical vendor claims.

                       About QualTeq Inc.

South Plainfield, New Jersey-based QualTeq, Inc., engages in the
design, manufacture, and personalization of plastic cards in the
United States.  The company manufactures magnetic, contact, and
dual interface smart cards.

Qualteq Inc. and 17 affiliated companies filed for Chapter 11
bankruptcy protection (Bankr. D. Del. Lead Case No. 11-12572) on
Aug. 14, 2011.  Eric Michael Sutty, Esq., and Jeffrey M. Schlerf,
Esq., at Fox Rothschild LLP, serve as local counsel to the
Debtors.  K&L Gates LLP is the general bankruptcy counsel.
Eisneramper LLP is the accountants and financial advisors.
Scouler & Company is the restructuring advisors.  Lowenstein
Sandler PC is counsel to the Committee.  QualTeq
estimated assets of up to $50 million and debts of up to
$100 million as of the Chapter 11 filing.

Roberta A. DeAngelis, U.S. Trustee for Region 3, appointed four
unsecured creditors to serve on the Official Committee of
Unsecured Creditors.


QUICK MED: Enters Into Exclusive License Agreement with Biosara
---------------------------------------------------------------
Quick-Med Technologies, Inc., and Biosara Corporation entered into
a License Agreement dated as of Nov. 15, 2011, on an exclusive
basis.  Under the Agreement, the Company grants certain rights
under its proprietary intellectual property related to
bactericidal absorbent wound dressings to Biosara to make, have
made, use, sell, offer to sell, import or otherwise dispose of the
wound care  products in the major medical and healthcare providers
and the organized sports market in the United States and Canada.

In consideration for the execution of the Agreement and for the
exclusive license, Biosara will pay the Company a non-refundable
and non-creditable payment upon signing the Agreement.  The
Company will receive another non-refundable and non-creditable
payment upon the first commercial product sale or 12 months from
the Effective Date.  Further, the Company will receive royalty
payments on the product sales at different royalty rates pursuant
to the sales volumes stipulated in the Agreement.  Biosara must
pay a certain minimum royalty amount to the Company each quarter,
otherwise the Company may at its option, cancel Biosara's
exclusivity arrangement or terminate the license altogether.

A member of the Company's Board of Directors is also a director of
Biosara's Board of Directors.  He has not participated in the
negotiation and the approval of the Agreement.  There are no other
material relationships between the Company or its affiliates and
any of the parties to the Agreement, other than with respect to
the Agreement.

A full-text copy of the Patent and Technology License Agreement is
available for free at http://is.gd/Y0hP63

                          About Quick-Med

Gainesville, Fla.-based Quick-Med Technologies, Inc., is a life
sciences company focused on developing proprietary, broad-based
technologies in the consumer and healthcare markets.

The Company reported a net loss of $2.30 million on $1.04 million
of revenue for the fiscal year ended June 30, 2011, compared with
a net loss of $3.55 million on $993,943 of revenue during the
prior year.

The Company's balance sheet at June 30, 2011, showed $1.64 million
in total assets, $8.09 million in total liabilities and a $6.45
million total stockholders' deficit.

Daszkal Bolton LLP, in Boca Raton, Florida, expressed substantial
doubt about the Company's ability to continue as a going concern.
The independent auditors noted that the Company has experienced
recurring losses and negative cash flows from operations for the
years ended June 30, 2011, and 2010, and has a net capital
deficiency.


RADAR PICTURES: Owner Accuses Ex-Associates of Takeover Plot
------------------------------------------------------------
Amanda Bransford at Bankruptcy Law360 reports that movie mogul
Frederick "Ted" Field on Friday accused a group of former
associates of hatching an elaborate scheme to take over his film
production company Radar Pictures Inc. and force it into
bankruptcy in a multimillion-dollar California state lawsuit.

According to the report, Mr. Field alleges in the complaint that
three men who worked for Radar -- the company that produced such
blockbuster films as "The Last Samurai" and the recent remakes of
"The Texas Chain Saw Massacre" and "The Amityville Horror" --
fabricated minutes from a September board meeting.

Based in Los Angeles, California, Radar Pictures Inc. produces,
finances, and acquires feature-length motion pictures.


RICCO INC: Smith & Assoc. Drops Motion to Back Out as Accountant
----------------------------------------------------------------
Andrew Smith, managing member at Smith and Associates CPAs &
Consultants, PLLC, notified the U.S. Bankruptcy Court for the
Northern District of West Virginia that he has withdrawn his
motion to withdraw as accountant for Ricco, Inc.

As reported in the Troubled Company Reporter on Nov. 15, 2011,
Mr. Smith told the Court that he has not been paid any money for
the work performed over the past 1-1/2 years in the Chapter 11
case.  He said there is no clear understanding or expectation that
payment for the prior approved billings will be forthcoming at any
time soon.

                          About Ricco Inc.

Elk Garden, West Virginia-based Ricco, Inc. -- aka Amico Partners,
Ambizioso Partners, Lupo Tana Partners, and Tre Manichinos
Partners -- filed for Chapter 11 bankruptcy protection on Jan. 7,
2010 (Bankr. N.D. W.V. Case No. 10-00023).  Todd Johnson, Esq., at
Johnson Law, PLLC, assists the Company in its restructuring
effort.  The Company has assets of $15,162,600, and total debts of
$4,093,674.

W. Clarkson McDow, Jr., U.S. Trustee for Region 4 appointed six
members to the official committee of unsecured creditors in the
Chapter 11 cases of Ricco, Inc.


RICHMOND YACHT: Case Summary & 6 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Richmond Yacht Harbor, Ltd.
        aka Channel Marina Yacht Harbor
        LRG Capital Building
        851 Irwin St., St. 300
        San Rafael, CA 94901

Bankruptcy Case No.: 11-14244

Chapter 11 Petition Date: November 23, 2011

Court: United States Bankruptcy Court
       Northern District of California (Santa Rosa)

Judge: Alan Jaroslovsky

Debtor's Counsel: Iain A. Macdonald, Esq.
                  MACDONALD AND ASSOCIATES
                  221 Sansome St. Third Floor
                  San Francisco, CA 94104
                  Tel: (415) 362-0449
                  E-mail: iain@macdonaldlawsf.com

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

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

A list of the Company's six largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/canb11-14244.pdf

The petition was signed by Sara A. Simmons, president.


ROBERT W HUNT: Case Summary & 6 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Robert W. Hunt, a medical corporation
        3661 Torrance Blvd Ste 100
        Torrance, CA 90503-0000

Bankruptcy Case No.: 11-58228

Chapter 11 Petition Date: November 23, 2011

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

Judge: Thomas B. Donovan

Debtor's Counsel: Steven E. Wohn, Esq.
                  LAW OFFICES OF STEVEN WOHN
                  800 S Pacific Coast Hwy, Ste 318
                  Redondo Beach, CA 90277
                  Tel: (310) 534-0005
                  Fax: (310) 534-0006
                  E-mail: stevewohnlaw@msn.com

Estimated Assets: $0 to $50,000

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

A list of the Company's six largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/cacb11-58228.pdf

The petition was signed by Peli Hunt, president.

Affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Peli Popovich Hunt                                11/22/11


ROBINO-BAY COURT: Hearing on Case Dismissal Plea Set for Dec. 6
---------------------------------------------------------------
The Hon. Christopher S. Sontchi of the U.S. Bankruptcy Court for
the District of Delaware will convene a hearing on Dec. 6, 2011,
at 10:00 a.m., to consider the motion to dismiss the Chapter 11
case of Robino-Bay Court Plaza, LLC, et al., or, in the
alternative convert the case to one under Chapter 7 of the
Bankruptcy Code.  Objections, if any, are due Nov. 29.

As reported in the Troubled Company Reporter on Nov. 4, 2011,
Roberta A. DeAngelis, the U.S. Trustee for Region 3, in her motion
for case dismissal or conversion, explained that:

   1. there is a continuing loss to or diminution of the estate
   and the absence of a reasonable likelihood of rehabilitation;

   2. the Debtors never filed their initial operating report, (b)
   have been chronically late in filing their monthly operating
   reports, and (c) have not yet filed their monthly operating
   reports for the months of July or August 2011, which are past
   due.

   3. the Debtors have failed to provide information requested by
   the U.S. Trustee;

   4. the Debtors have failed to file a disclosure statement or to
   file or confirm a plan within the exclusivity periods which
   have since expired.

As reported in the TCR on Oct. 10, 2011, Dover Bay Court Plaza
also asked the Court to dismiss the Debtors' cases.

Dover Bay is a holder of the first mortgage secured against Bay
Court Plaza's shopping center, all leases and other assets.  As of
Nov. 10, 2010, payoff of Dover Bay's debt was $11,833,269 with
interest accruing at $2,607 per diem.  Debtors have made zero
payments to Dover Bay since they filed for bankruptcy.

                  About Robino-Bay Court Plaza

Wilmington, Delaware-based Robino-Bay Court Plaza, LLC, filed for
Chapter 11 bankruptcy protection (Bankr. D. Del. Case No. 10-
12376) on July 28, 2010.  The Debtor is represented by John D.
McLaughlin, Jr., Esq., at Ciardi Ciardi & Astin.  The Debtor
estimated its assets and debts at $10 million to $50 million in
its Chapter 11 petition.

An affiliate, Robino-Bay Court Pad, LLC, filed a separate Chapter
11 petition (Case No. 10-12377) on July 28, 2010, estimating its
assets at $500,001 to $1 million and debts at $1 million to
$10 million as of the Petition Date.


ROUND TABLE: Wants Until Dec. 31 to Solicit Plan Acceptances
------------------------------------------------------------
Round Table Pizza, Inc., et al., ask the U.S. Bankruptcy Court for
the Northern District of California to extend their exclusive
period to file and solicit acceptances for the proposed plan of
reorganization until Dec. 31, 2011.

The Debtors relate that their Disclosure Statement has been
approved, and the Joint Plan has been mailed out to their
creditors for balloting.

The Joint Plan is the result of extensive negotiations between all
major interest holders.  The Debtor and their lender have proposed
a Joint Plan which pays all creditors in full in four years, and
leaves potentially significant value for its ESOP.  The requested
further extension of exclusivity ensures that the Joint Plan
can be evaluated on its merits without the needless distraction of
a competing plan.

A copy of the Disclosure Statement in support of the First Amended
Joint Plan is available for free at:

         http://bankrupt.com/misc/roundtable.dkt1056.pdf

                        About Round Table

Based in Concord, California, Round Table Pizza, Inc. --
http://www.roundtablepizza.com/-- is a private, 100% employee-
owned company with corporate offices based in Concord, California.
Round Table is largely owned by an Employee Stock Ownership Plan,
with 3,190 participants.  The ESOP is designed and intended to
provide a source of retirement income to Round Table's loyal,
long-term employees.

Round Table is a major West Coast pizza chain.  There are
currently approximately 348 franchised stores, operated by
approximately 150 franchisees.  Prior to the petition date, Round
Table operated 128 company-owned stores.

Round Table filed for Chapter 11 bankruptcy protection (Bankr.
N.D. Calif. Case No. 11-41431) on Feb. 9, 2011.  Judge Roger L.
Efremsky presides over the case.  Scott H. McNutt, Esq., at McNutt
Law Group serves as the Debtor's bankruptcy counsel.  The Debtors
also tapped Frank, Rimerman & Co. as an auditor and accountant.
Round Table disclosed $1,066,524 in assets and $35,625,649 in
liabilities as of the Chapter 11 filing.

The case is jointly administered with affiliates -- The Round
Table Franchise Corporation, Round Table Development Company, and
Round Table Pizza Nevada LLC.

The official committee of unsecured creditors has tapped
Brownstein Hyatt Farber Schreck, LLP as counsel.  The Debtor also
tapped First Bankers Trust Services, Inc. as discretionary,
independent, and institutional ESOP Trustee, and Johanson Berenson
LLP as an ESOP counsel.

First Bankers Trust Services, Inc., was appointed as institutional
trustee of the Round Table Restated Employee Stock Ownership Plan
and Trust (ESOP).  Johanson Berenson LLP serves as an ESOP
counsel.


RUDERMAN CAPITAL: Spider-Man Settles Ponzi-Funded Poker Games Suit
------------------------------------------------------------------
Martin Bricketto at Bankruptcy Law360 reports that "Spider-Man"
star Tobey Maguire will pay $80,000 to settle a lawsuit in
California bankruptcy court claiming he won $311,200 in illegal
poker games from a hedge fund manager charged with covering
gambling losses with Ponzi scheme money, according to court
filings Wednesday.

Law360 relates that the suit, one of several actions originally
filed in March, sought to claw back the money that Beverly Hills
hedge fund manager Bradley L. Ruderman allegedly lost in secret,
high-stakes poker games.

The Troubled Company Reporter on May 1, 2009, reported that the
Securities and Exchange Commission obtained a court order halting
a fraudulent scheme in Beverly Hills, Calif., in which investors
were coaxed into investing in two hedge funds that purportedly
held more than $800 million in assets when in fact the funds lost
money and have less than $1 million in assets.

The SEC alleged that Bradley L. Ruderman raised at least
$38 million from investors through his two hedge funds, Ruderman
Capital Partners and Ruderman Capital Partners A. Through fake and
misleading account statements, Ruderman assured investors that the
hedge funds had earned positive returns as high as 60% per year.
He falsely claimed that the funds held positions in well-known
securities such as Apple, Microsoft Corp., Qualcomm, and Wal-Mart
Stores, and he obtained money from at least one investor by
claiming that some prominent people were investors in his funds
when in fact they were not.

According to the SEC's complaint, filed in federal court in Los
Angeles, neither Ruderman nor his company and hedge funds are
registered with the SEC in any capacity.

The SEC alleged that Ruderman made at least one Ponzi-like payment
earlier this year when an investor requested a $750,000
withdrawal.  Only after receiving two $500,000 deposits from new
investors was Ruderman able to transfer funds out of the account
to pay the earlier investor.

The SEC's complaint also alleged that Ruderman lied to at least
one prospective investor by saying that Lowell Milken (chairman of
the Milken Family Foundation and Michael Milken's younger brother)
and Larry Ellison (CEO of Oracle Corporation) were investors in
the hedge funds.  The prospective investor went on to invest in
one of the hedge funds under the false impression that Milken and
Ellison were invested in them.

The Honorable Valerie Baker Fairbank, U.S. District Judge for the
Central District of California, granted the SEC's request for
emergency relief for investors, including an order temporarily
enjoining Ruderman, his company Ruderman Capital Management, and
the hedge funds from future violations of the antifraud provisions
and freezing their assets.  The Commission seeks preliminary and
permanent injunctions, disgorgement, and financial penalties
against the defendants.


RUSSELL 150: Reaches Deal With Interested Parties
-------------------------------------------------
Sally Voth at Northern Virginia Daily, citing bankruptcy court
records, reports that a settlement was proposed on Nov. 21, 2011,
between Russell 150 LLC and interested parties.

The agreement stated that the Frederick County Board of
Supervisors created the Russell 150 Community Development
Authority, which issued $21.2 million in bonds that were purchased
by MMA Realty Capital.  The deal said Russell 150 owes
$5.8 million in unpaid bond debt assessments.

According to the report, the deal calls for Russsell 150 to agree
to allow the indenture trustee, the development authority, the
Board of Supervisors and MMA to "exercise all rights and remedies
under the Bond Documents with respect to the Real Property," and
to allow R 140 SPE LLC to exercise its rights regarding a
mechanic's lien.

Russell 150 filed for bankruptcy a day before the property on
Front Royal Pike (U.S. 522) near Airport Road, was due to go on
the auction block for unpaid taxes.  The development -- site work
began in Spring 2008, but soon ended -- was to include 294
townhouses on 54 acres of residential development, with the
remaining acreage devoted to commercial properties.  It also
proffered a bridge over Interstate 81 meant to alleviate
congestion at the intersection of U.S. 17-50-522.

The report adds that Frederick County Circuit Court had ordered
the sale of the site because SPE was owed more than $400,000 in
mechanic's liens, according to court records.

The report says Denver E. Quinnelly, who manages Russell 150,
agreed to file a motion to dismiss the bankruptcy case within five
days after the settlement agreement is approved by the court.  A
hearing on the motion to dismiss is scheduled for Dec. 15, 2011.

Based in Winchester, Virginia, Russell 150 LC filed for Chapter 11
protection (Bank. W.D. Va. Case No. 11-51041) on July 20, 2011.
Judge Ross W. Krumm presides over the case.  Benjamin Webb King,
Esq., at Woods Rogers Hazlegrove, represents the Debtor.  The
Debtor estimated both assets and debts of between $1 million and
$10 million.


SAGAMORE PARTNERS: U.S. Trustee Unable to Form Committee
--------------------------------------------------------
The United States Trustee will not appoint an official committee
under 11 U.S.C. Sec. 1102 has not been appointed in the bankruptcy
case of Sagamore Partners Ltd until further notice.  The U.S.
Trustee reserves the right to appoint such a committee should
interest developed among the creditors.

Bay Harbor, Florida-based Sagamore Partners Ltd. owns and operates
the prestigious oceanfront Sagamore Hotel, also known as The Art
Hotel due to its captivating art collection from recognized
artists and its contemporary design.  The all-suite boutique hotel
is situated within Miami's Art Deco Historic District on South
Beach.  Sagamore Partners is owned by Martin Taplin.

Sagamore Partners filed for Chapter 11 bankruptcy (Bankr. S.D.
Fla. Case No. 11-37867) on Oct. 6, 2011.  Judge A. Jay Cristol
presides over the case.  Peter D. Russin, Esq., at Meland Russin &
Budwick, P.A., serves as the Debtor's counsel.  The Debtor
disclosed $71,099,556 in assets and $52,132,849 in liabilities as
of the Chapter 11 filing.  The petition was signed by Martin W.
Taplin, Pres of Miami Beach Vacation Resorts, Inc., manager of
Sagamore GP, LLC, general partner.


SAGAMORE PARTNERS: Meland Russin OK'd to Handle Chapter 11 Case
---------------------------------------------------------------
The Hon. A. Jay Cristol of the U.S. Bankruptcy Court for the
Southern District of Florida authorized Sagamore Partners, Ltd.,
to employ Peter D. Russin and Meland Russin & Budwick, P.A. as
counsel under a general retainer.

To the best of the Debtor's knowledge, the law firm is a
"disinterested person" as that term is defined in Section 101(140
of the Bankruptcy Code.

                      About Sagamore Partners

Bay Harbor, Florida-based Sagamore Partners Ltd. owns and operates
the prestigious oceanfront Sagamore Hotel, also known as The Art
Hotel due to its captivating art collection from recognized
artists and its contemporary design.  The all-suite boutique hotel
is situated within Miami's Art Deco Historic District on South
Beach.  Sagamore Partners is owned by Martin Taplin.

Sagamore Partners filed for Chapter 11 bankruptcy (Bankr. S.D.
Fla. Case No. 11-37867) on Oct. 6, 2011.  Judge A. Jay Cristol
presides over the case.  Peter D. Russin, Esq., at Meland Russin &
Budwick, P.A., serves as the Debtor's counsel.  The Debtor
disclosed $71,099,556 in assets and $52,132,849 in liabilities as
of the Chapter 11 filing.  The petition was signed by Martin W.
Taplin, Pres of Miami Beach Vacation Resorts, Inc., manager of
Sagamore GP, LLC, general partner.


SANUWAVE HEALTH: Posts $2.1 Million Net Loss in Third Quarter
-------------------------------------------------------------
SANUWAVE Health, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $2.1 million on $161,678 of revenues for
the three months ended Sept. 30, 2011, compared with a net loss of
$2.7 million on $278,212 of revenues for the same period last
year.

The Company reported a net loss of $7.8 million on $577,180 of
revenues for the nine months ended Sept. 30, 2011, compared with a
net loss of $8.4 million on $538,540 of revenues for the same
period in 2010.

The Company's balance sheet at Sept. 30, 2011, showed $8.3 million
in total assets, $7.9 million in total liabilities, and
stockholders' equity of $337,674.

HLB Gross Collins, P.C., in Atlanta, Ga., expressed substantial
doubt about SANUWAVE Health's ability to continue as a going
concern, following the Company's 2010 results.  The independent
auditors noted that the Company incurred a net loss of
approximately $14.9 million and $6.2 million during the years
ended Dec. 31, 2010, and 2009, respectively, and, as of those
dates, had a working capital deficiency of approximately
$7.0 million and $187,000, respectively.  In addition, the
independent auditors said that the Company is economically
dependent upon future capital contributions or financing to fund
ongoing operations.

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

                       http://is.gd/lphTtb

Alpharetta, Ga.-based SANUWAVE Health, Inc. (OTC BB: SNWV)
-- http://www.sanuwave.com/-- is an emerging regenerative
medicine company focused on the development and commercialization
of noninvasive, biological response activating devices for the
repair and regeneration of tissue, musculoskeletal and vascular
structures.


SEARCHMEDIA HOLDINGS: Phillip Frost Owns 5.3MM Ordinary Shares
--------------------------------------------------------------
In an amended Schedule 13D filing with the U.S. Securities and
Exchange Commission, Phillip Frost, M.D., and Frost Gamma
Investments Trust disclosed that they beneficially own 5,352,033
ordinary shares, par value $0.0001 per share, of SearchMedia
Holdings Limited representing 22.76% of the shares outstanding.
A full-text copy of the filing is available for free at:

                       http://is.gd/3U92t5

                        About SearchMedia

SearchMedia is a leading nationwide multi-platform media company
and one of the largest operators of integrated outdoor billboard
and in-elevator advertising networks in China.  SearchMedia
operates a network of high-impact billboards and one of China's
largest networks of in-elevator advertisement panels in 50 cities
throughout China.  Additionally, SearchMedia operates a network of
large-format light boxes in concourses of eleven major subway
lines in Shanghai.  SearchMedia's core outdoor billboard and in-
elevator platforms are complemented by its subway advertising
platform, which together enable it to provide a multi-platform,
"one-stop shop" services for its local, national and international
advertising clients.

Marcum Bernstein & Pinchuk LLP, in New York, expressed substantial
doubt about SearchMedia Holdings' ability to continue as a going
concern.  The independent auditors noted that the Company has
suffered recurring net losses from operations and has a working
capital deficiency.

The Company reported a net loss of $46.6 million on $49.0 million
of revenues for 2010, compared with a net loss of $22.6 million on
$37.7 million of revenues for 2009.


SEQUENOM INC: Files form S-3, Registers $150 Million of Securities
-----------------------------------------------------------------
Sequenom, Inc., filed with the U.S. Securities and Exchange
Commission a Form S-3 registration statement relating to its offer
to sell up to $150,000,000 of any of common stock, preferred
stock, debt securities and warrants, either individually or in
combination, at prices and on terms described in one or more
supplements to the prospectus.  The Company may also offer common
stock or preferred stock upon conversion of debt securities,
common stock upon conversion of preferred stock, or common stock,
preferred stock or debt securities upon the exercise of warrants.

Securities may be sold by the Company to or through underwriters
or dealers, directly to purchasers or through agents designated
from time to time.

The Company's common stock is listed on The NASDAQ Global Market
under the symbol "SQNM."  On Nov. 22, 2011, the last reported sale
price of the Company's common stock on The NASDAQ Global Market
was $4.14 per share.

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

                        http://is.gd/BYSw2J

                           About Sequenom

Sequenom, Inc. (NASDAQ: SQNM) -- http://www.sequenom.com/-- is a
life sciences company committed to improving healthcare through
revolutionary genetic analysis solutions.  Sequenom develops
innovative technology, products and diagnostic tests that target
and serve discovery and clinical research, and molecular
diagnostics markets.  The company was founded in 1994 and is
headquartered in San Diego, California.

Sequenom reported a net loss of $120.85 million on $47.45 million
of total revenue for the year ended Dec. 31, 2010, compared with a
net loss of $71.01 million on $37.86 million of total revenue
during the prior year.

The Company also reported a net loss of $51.98 million on
$40.42 million of total revenues for the nine months ended Sept.
30, 2011, compared with a net loss of $98.82 million on $33.70
million of total revenues for the same period a year ago.

The Company's balance sheet at Sept. 30, 2011, showed
$152.99 million in total assets, $42.13 million in total
liabilities and $110.85 million in total stockholders' equity.

Ernst & Young LLP of San Diego, California, in its audit report
attached to the 2010 financial statements, did not include a going
concern qualification for Sequenom.  E&Y, in its report on the
2009 results, expressed substantial doubt against Sequenom's
ability as a going concern, noting that the Company "has incurred
recurring operating losses and does not have sufficient working
capital to fund operations through 2010."


SHALAN ENTERPRISES: Files Disclosure Statement for Joint Plan
-------------------------------------------------------------
Shalan Enterprises, LLC, and Alan Rapoport have filed a disclosure
statement explaining their Joint Chapter 11 Plan.

The Joint Plan, filed Oct. 3, 2011, is a reorganizing plan.
Debtor will continue to own, operate and, where appropriate,
liquidate assets and distribute the proceeds of the operations and
liquidation to Creditors in the order of priority set forth in the
Code.  The Effective Date of the Plan is the second Business Day
after entry of the Confirmation Order on which no stay of the
Confirmation Order is in effect.

The Plan will be funded by the following: (i) available cash on
the Effective Date; and (ii) cash available after the Effective
Date from, among other things, the funds which may be received by
the Reorganized Debtor from the ownership, operation and sale or
liquidation of the Debtor's assets, the collection of rents, and
monies which the Court approved Debtor to borrow.

Debtor will use funds on hand on the Effective Date, generated
from (i) postpetition financing, (ii) the Reorganized Debtor's
salary, and (iii) proceeds from the sale of properties to pay for
those administrative expenses due on the Effective Date (or,
alternatively, set aside the funds pending this Court's approval
of Allowed Administrative Claims, including those of
Professionals).

These funds will be deposited into the Administrative Reserve.
Debtor's monthly income, generated from its rental units and
Debtor's salary, will be used to satisfy (i) the Post Petition
Debt Servicing, (ii) ongoing regularly monthly debt servicing of
loans that constitute Classes 2 - 6 Claims, (iii) the monthly
$5,000 installment payments to Class 10 Allowed Claims, (iv) other
expenses related to the Rental Properties, (v) Debtor's other
living expenses, (vi) any post-Effective Date professional fees,
and (vii) any other Allowed Administrative Claim or Allowed
Priority Tax Claim to the extent that the Administrative Reserve
is not sufficient.

The Plan designates Classes of Claims and Interests:

Class 1  ? Secured Property Tax Claims
Class 2  ? Bank of America Secured Claims
Class 3  ? GMAC Mortgage LLC Secured Claims
Class 4  ? Wells Fargo Bank N.A. (WF) Secured Claims
Class 5  ? CitMortgage Secured Claim
Class 6  ? Nationstar Mortgage Secured Claim
Class 7  ? Other Secured Claims
Class 8  ? WF Secured Claim secured by Newbury Park, CA
Class 9  ? Claims of Klein
Class 10 ? Unsecured Claims

Class 1 Secured Property Tax Claims are not impaired.  Each of the
pre-petition secured property Tax Claims has been paid prior to
the date of this Disclosure Statement.

Classes 2 thru 7 are not impaired.  The underlying loan of each of
these Claims is current, with no pre-petition or post-petition
arrearages.  Debtor intends to pay these loans in accordance with
the payment terms of each loan and the estimated Claim amount will
be satisfied either upon (a) sale of the property securing each
Claim or (b) amortize the outstanding balance, with payment upon
the regular loan payment terms.

Debtor is unaware of any Claims that fall within Class 7 but
includes said class for any unspecified Secured Claims.

Class 8 is not impaired under the Plan.  This Claim will be
satisfied as part of the transfer of the property securing this
Claim to the Kleins, pursuant to the terms of the Klein
settlement.

The estimated total amount of Class 10 Claims is $92,000. In
addition, there is approximately $561,284.18 of contingent
Unsecured Claims.   This includes the contingent Claim of TD Bank.
TD Bank did not file a proof of claim and therefore is not a
participant of the treatment of Class 10 Unsecured Claims.  In
addition, the contingent Unsecured Claims include the non-priority
unsecured portion of security deposits by tenants in the
approximately amount of $26,919.20.  These contingent security
deposits will be paid in accordance with the Security Deposit
Order [Docket No. 91], when and if they become due.

Commencing on the first Business Day of the second full calendar
month after the Effective Date, and on the like day of each month
thereafter, the Reorganized Debtor will allocate $5,000 per month
to be distributed pro rata to each of the holders of an Allowed
Class 10 Claim.  Debtor anticipates that based on this installment
payment schedule, each Allowed Class 10 Claim will be satisfied in
full, with interest, within a period of two (2) years.

The Class 9 Claims of Klein are impaired under the Plan and will
be treated, paid and satisfied in accordance with the Klein
Settlement, and all payments and transfers required thereby after
the Effective Date will be made by the Reorganized Debtor on the
dates specified by the Klein Settlement and will be received and
retained by Klein in full settlement, discharge and disposition of
any and all Claims of Klein.

Klein filed a proof of claim in the amount of $9,715,869.

                         Klein Settlement

Debtor and Klein reached an agreement whereby Debtor agreed to pay
Klein $4.75 million, payable in a combination of cash and various
single family dwellings (the "Klein Settlement").  On June 21,
2011, Debtor filed a motion seeking approval of the Klein
Settlement.  On July 11, 2011, the Court approved and authorized
Debtor to perform the Klein Settlement [Doc. No. 262].  The Klein
Settlement resolved the largest Claim in the Chapter 11 Case.

The Klein Settlement involves the transfer, free and clear of all
liens and encumbrances, of 10 residential properties, seven of
which were initially transferred, with the remaining three
properties to be transferred in intervals thereafter.  The initial
phase of the Klein Settlement was consummated on Sept. 1, 2011,
including the payment to Klein of $500,000 in cash, and
the seven properties were transferred, free and clear of all
encumbrances.

As part of the second phase, three additional properties or the
Designated Value of those properties (as defined in the Settlement
Agreement) will be transferred to Klein on a monthly basis, with
the last property or its Designated Value to be distributed to
Klein by no later than Nov. 21, 2011.

A copy of the Disclosure Statement for the Joint Plan is available
for free at http://bankrupt.com/misc/shalanenterpirses.dkt303.pdf

                     About Shalan Enterprises

Marina Del Rey, California-based Shalan Enterprises, LLC, a Nevada
limited liability company, was formed in 1999 for the purpose of
owning, operating and leasing and/or selling properties.  Shalans'
business is to hold 34 of Alan Rapoport's real estate holdings.

The Company filed for Chapter 11 bankruptcy protection (Bankr.
C.D. Calif. Case No. 09-43263) on Nov. 25, 2009.  The Company has
assets of $12,540,000, and total debts of $7,426,313.

Shalan Enterprises' case is substantially consolidated with the
case of Alan Rapoport, who filed Chapter 11 bankruptcy (Case No.
09-43499) on Nov. 30, 2009.

Joseph A. Eisenberg, Esq., Thomas M. Geher, Esq., and Alexis M.
McGinness, Esq., at Jeffer Mangels Butler & Mitchell LLP, in Los
Angeles, Calif., represent the Consolidated Debtors as counsel.


SOLYNDRA LLC: Proposes Piece-by-Piece Auction on Jan. 23
--------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that as a hedge against Solyndra LLC failing to find a
buyer to operate the business as a going concern, the partially
government-financed solar-panel maker filed papers on Nov. 22 to
sell the assets piece-by-piece at an old-fashioned auction to be
held the week of Jan. 23.

According to the report, Solyndra was originally scheduled to hold
a so-called turnkey auction on Nov. 22. Although no buyer was
under contract, the company hoped someone would acquire the plant
and restart the business. When no buyer surfaced, Solyndra
rescheduled the turnkey auction for Jan. 19.

The report relates that if the bankruptcy court in Delaware grants
approval at a Dec. 8 hearing, a consortium will be hired to
conduct a piecemeal auction in California, where the assets are
located.  Its members are Heritage Global Partners, Counsel RB
Capital LLC, Hilco Industrial LLC and Branford Group Inc.  Should
the turnkey auction produce a buyer, the auctioneers will be paid
a $250,000 breakup fee for canceling the piecemeal auction.

The report relates that the auctioneers are guaranteeing Solyndra
will receive a net minimum of $4.25 million from the piecemeal
auction.  Bidding rules will require buyers to pay a 15% buyer's
premium, from which the auctioneers will receive 7.5%.  The
auctioneers will also receive reimbursement up to $40,000 for
expenses in connection with the auction.

Solyndra generated $6.2 million from the first auction of non-
essential assets.  Some 3,500 bidders registered for the first
auction.  Last week the bankruptcy court authorized holding a
second auction of non-core assets on Dec. 13.

                       About Solyndra LLC

Founded in 2005, Solyndra LLC is a U.S. manufacturer of solar
photovoltaic solar power systems specifically designed for large
commercial and industrial rooftops and for certain shaded
agriculture applications.  The Company had 968 full time employees
and 211 temporary employees.  Solyndra has sold more than 500,000
of its panels since 2008 and generated cumulative sales of over
$250 million.

Fremont, California-based Solyndra and affiliate 360 Degree Solar
Holdings Inc. sought Chapter 11 bankruptcy protection (Bankr. D.
Del. Lead Case No. 11-12799) on Sept. 6, 2011.  Solyndra is at
least the third solar company to seek court protection from
creditors since August 2011.

Solyndra owed secured lenders $783.8 million, including
$527.8 million to the U.S. government pursuant to a federal loan
guarantee, and held assets valued at $859 million as of the
Petition date.  The U.S. Federal Financing Bank, owned by the U.S.
Treasury Department, is the Company's biggest lender.

In the Chapter 11 cases, the Debtors are pursuing a two-pronged
strategy to effectuate either a sale of their business to a
"turnkey" buyer who may acquire substantially all of Solyndra's
assets or, if the Debtors are unable to identify any such
potential buyers, an orderly liquidation of the Debtors' assets
for the benefit of their creditors.

Judge Mary F. Walrath presides over the Debtors' cases.  The
Debtors are represented by Pachulski Stang Ziehl & Jones LLP as
legal adviser.  AlixPartners LLP serves as noticing claims and
balloting agent.  Imperial Capital LLC serves as the company's
investment banker and financial adviser.  The Debtors also tapped
former Massachusetts Governor William F. Weld, now with the law
firm McDermott Will & Emery, to represent the company in
government investigations and related litigation.  BDO Consulting,
a division of BDO USA, LLP, as financial advisor and BDO Capital
Advisors, LLC, serves as investment banker for the creditors'
panel.

Roberta A. DeAngelis, U.S. Trustee for Region 3, appointed seven
unsecured creditors to serve on the Official Committee of
Unsecured Creditors of Solyndra LLC.  The Committee has tapped
Blank Rome LLP as counsel.

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

   
SP NEWSPRINT: Meeting to Form Creditors Committee Today
-------------------------------------------------------
Roberta A. DeAngelis, United States Trustee for Region 3, will
hold can organizational meeting on Nov. 28, 2011, at 1:00 p.m. in
the bankruptcy case of SP Newsprint Holdings LLC, SP Newsprint Co.
LLC, SP Recycling Corporation and SEP Technologies L.L.C.  The
meeting will be held at:

   United States Trustee's Office
   One Newark Center
   1085 Raymond Blvd.
   21st Floor, Room 2106
   Newark, NJ 07102

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' cases.

The organizational meeting is not the meeting of creditors
pursuant to Section 341 of the Bankruptcy Code.  A representative
of the Debtor, however, may attend the Organizational Meeting, and
provide background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States
Trustee appoint a committee of unsecured creditors as soon as
practicable.  The Committee ordinarily consists of the persons,
willing to serve, that hold the seven largest unsecured claims
against the debtor of the kinds represented on the committee.
Section 1103 of the Bankruptcy Code provides that the Committee
may consult with the debtor, investigate the debtor and its
business operations and participate in the formulation of a plan
of reorganization.  The Committee may also perform other services
as are in the interests of the unsecured creditors whom it
represents.

                      About SP Newsprint

Greenwich, Conn.-based SP Newsprint Holdings LLC -- aka Bulldog
Acquisition I LLC, Bulldog Acquisition II LLC, Publishers Papers,
Southeastern Paper Recycling and SP Newsprint Merger LLC -- and
three affiliates, SP Newsprint Co. LLC, SP Recycling Corporation
and SEP Technologies L.L.C, filed for Chapter 11 bankruptcy
(Bankr. D. Del. Lead Case No. 11-13649) on Nov. 15, 2011.

SP Newsprint Holdings LLC is a newsprint company controlled by
polo-playing mogul Peter Brant.  It is one of the largest
producers of newsprint in North America.  SP Recycling
Corporation, a Georgia corporation and the Debtors' other
operating company, was established in 1980 as a means for SP to
secure a ready supply of recycled fiber, a key raw material for
its newsprint.

SP Newsprint is the second Brant-owned newsprint company to tumble
into bankruptcy proceedings in recent years.  Current and former
affiliated entities are Bear Island Paper Company, L.L.C., Brant
Industries, Inc., F.F. Soucy, Inc., Soucy Partners Newsprint,
Inc., White Birch Paper Company.

Judge Christopher S. Sontchi presides over the case.  Joel H.
Levitin, Esq., Maya Peleg, Esq., and Richard A. Stieglitz Jr.,
Esq. -- jlevitin@cahill.com , mpeleg@cahill.com and
rstieglitz@cahill.com -- at Cahill Gordon & Reindel LLP serve as
the Debtors' lead counsel.  Lee E. Kaufman, Esq., and Mark D.
Collins, Esq. -- kaufman@rlf.com and collins@RLF.com -- at
Richards, Layton & Finger, P.A., serve as the Debtors' Delaware
counsel.  AlixPartners LLP serves as the Debtors' financial
advisors and The Garden City Group Inc. serves as the Debtors'
claims and noticing agent.  In its petition, SP Newsprint Holdings
estimated $100 million to $500 million in assets and debts.  The
petitions were signed by Edward D. Sherrick, executive vice
president and chief financial officer.


SSI GROUP: LNC Ventures Wins Bankruptcy Auction
-----------------------------------------------
Dow Jones' DBR Small Cap reports that LNC Ventures LLC won a
bankruptcy auction for SSI Group Holding Corp.'s Souper Salad
chain with a $3.65 million bid.

                        About SSI Group

On Sept. 14, 2011, SSI Group Holding Corp. sought bankruptcy
protection (Bankr. D. Del. Case No. 11-12917) in Wilmington,
Delaware, after months of lackluster performance at its two
struggling restaurant chains, which combined operate about 120
locations, and its debts mounted to $47.5 million.  Judge Mary F.
Walrath presides over the case.  SSI reported $23.9 million in
assets as of Aug. 28, 2011.  The Debtor is represented by
Proskauer Rose LLP and Cozen O'Connor as counsel and Morgan Joseph
TriArtisan LLC as financial advisors.

SSI is behind two southern restaurant chains -- the healthy Souper
Salad chain and "comfort food"-serving Grandy's restaurants.

Affiliates Super Salad, Inc. (Case No. 11-12918), SSI-Grandy's LLC
(Case No. 11-12919), and Souper Brands, Inc. (Case No. 11-12920),
also sought Chapter 11 protection on Sept. 14, 2011.

The Debtors hope to use the bankruptcy cases to sell their
Grandy's chain to an affiliate of Sun Capital Partners (or a
higher bidder) and to sell their Souper Salad chain to a to-be
determined buyer (no stalking horse bidder has been identified).

U.S. Trustee appointed an Official Committee of Unsecured
Creditors in the chapter 11 cases of SSI Group Holding Corp. and
its affiliates.


STONE GROUND: Files for Chapter 11 Bankruptcy as Owners Squabble
----------------------------------------------------------------
John Loesing at the Acorn reports that Stone Ground Baking
Company, which operates a restaurant at 29105 Canwood St. in
Agoura Hills, California, selling retail and wholesale baked
goods, filed for chapter 11 bankruptcy on Nov. 18, 2011.

According to the report, the Company owes $120,600 in unpaid debts
to vendors.  A court-appointed receiver was named to oversee the
business while the company's two owners battle over culpability.

The report relates that, in August, the bakery moved from 5005
Kanan Road to a bigger storefront on Canwood Street, but was
unable to meet financial obligations.

The report notes that Gregory Yulish, a 40% owner in the company,
filed a complaint alleging Stone Ground majority owner Joachim
Franke "violated health code regulations, filed false tax returns,
and engaged in highly questionable activities . . . failing to
provide a full accounting."

"It is clear there is cash missing from the business," Mr.
Yulish's complaint alleges.


STONEHEALTH RE: Fitch Withdraws 'BB+' Rating on Preff. Securities
-----------------------------------------------------------------
Fitch Ratings has withdrawn the 'BBB+' Issuer Default Rating
of Stoneheath Re and the 'BB+' rating of Stoneheath Re's
preferred securities.  The Rating Outlook was Stable prior
to the withdrawal.  The ratings are withdrawn due to the
reorganization of the rated entity.  Stoneheath Re is being
wound up, with the holders of the non-cumulative perpetual
preferred securities issued by Stoneheath Re in December 2006
receiving on Nov. 16, 2011 one XLIT Ltd. (formerly XL Group Ltd.)
series D preference ordinary share (rated 'BB+' by Fitch), which
were issued on Oct. 15, 2011, in exchange for each Stoneheath Re
security.

Fitch has withdrawn these Stoneheath Re ratings:

  -- IDR at 'BBB+';
  -- $350 million non-cumulative perpetual preferred at 'BB+'.


SUSPECT DETECTION: Posts $656,300 Net Loss in Third Quarter
-----------------------------------------------------------
Suspect Detection System Inc. filed its quarterly report on Form
10-Q, reporting a net loss of $656,312 on $174,341 of revenues
for the three months ended Sept. 30, 2011, compared with a net
loss of $271,194 on $259,080 of revenues for the same period last
year.

For the nine months ended Sept. 30, 2011, the Company had a net
loss of $1.5 million on $1.9 million of revenues, compared with a
net loss of $690,087 on $1.6 million of revenues for the same
period of 2010.

The Company's balance sheet at Sept. 30, 2011, showed $2.1 million
in total assets, $1.2 million in total liabilities, and
stockholders' equity of $861,357.

As reported in the TCR on March 28, 2011, Yarel + Partners, in
Tel-Aviv, Israel, expressed substantial doubt about Suspect
Detection System's ability to continue as a going concern,
following the Company's 2010 results.  The independent auditors
noted that the Company has not established sufficient sources of
revenue to cover its operating costs and expenses.  "As such, it
has incurred an operating loss since inception.  Further, as of
Dec. 31, 2010, the cash resources of the Company were insufficient
to meet its planned business objectives."

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

                       http://is.gd/q5GvjN

New York-based Suspect Detection Systems, Inc., is a Delaware
corporation that conducts its operations through its 58% owned
subsidiary, Suspect Detection Systems Ltd., an Israeli
corporation.  SDS - Israel specializes in the development and
application of proprietary technologies for law enforcement and
border control, including counter terrorism efforts, immigration
control and drug enforcement, as well as human resource
management, asset management and the transportation sector.


TEARLAB CORP: Reports $1.1 Million Net Income in 2011 3rd Quarter
-----------------------------------------------------------------
TearLab Corporation filed its quarterly report on Form 10-Q,
reporting net income of $1.1 million on $333,000 of revenue for
the three months ended Sept. 30, 2011, compared with a net loss of
$2.2 million on $210,000 of revenue for the same period last year.

For the three months ended Sept. 30, 2011, a gain of $3.3 million
was recorded as a result of a decrease in the fair value of
warrant obligations, compared to a loss of $264,000 as a result of
an increase in the fair value of warrant obligations for the three
months ended Sept. 30, 2010.

The Company reported a net loss of $5.3 million on $1.6 million of
revenue for the nine months ended Sept. 30, 2011, compared with a
net loss of $4.8 million on $903,000 of revenue for the same
period in 2010.

The Company's balance sheet at Sept. 30, 2011, showed
$12.5 million in total assets, $3.7 million in current
liabilities, and stockholders' equity of $8.8 million.

As reported in the TCR on April 5, 2011, Ernst & Young LLP, in San
Diego, California, expressed substantial doubt about TearLab's
ability to continue as a going concern, following the Company's
2010 results.  The independent auditors noted that of the
Company's recurring losses from operations and level of working
capital available to fund operations.

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

                       http://is.gd/J51Q5s

San Diego, Calif.-based TearLab Corporation (NASDAQ: TEAR; TSX:
TLB) -- http://tearlab.com/-- develops and markets lab-on-a-chip
technologies that enable eye care practitioners to improve
standard of care by objectively and quantitatively testing for
disease markers in tears at the point-of-care.


TEN SAINTS: Bank Objects to Hiring of Susan Hernst as Appraiser
---------------------------------------------------------------
Secured creditor Wells Fargo Bank, N.A., objects to Ten Saints
LLC's application to retain Susan L. Ernst as its appraiser and
valuation expert.  The Lender notes that no valuation motion is
filed or pending at this time.  Therefore, the Application is
premature and unnecessary.

The Lender notes that annexed to the Disclosure Statement is an
appraisal of the Debtor's sole asset, the Hampton Inns and Suites,
setting forth the value of the real estate at $12,200,000.  The
indebtedness of the Debtor to the Lender which is secured by the
Lender's first priority security interest in the Property is
$14,320,465.78.

Accordingly, according to the Lender, there is a deficiency of the
value of the Debtor's  ole asset of no less than $2 million as of
the Petition Date.  Given the admitted deficiency, Lender further
submits to the Court that there is no present need to grant the
Application and no present need for the Debtor to retain a
valuation expert because the Lender's claim is undersecured.

Further, the Lender notes that parties have entered into a series
of consensual cash collateral stipulations.  No entry appears on
any budget previously approved by Lender for the payment of
Ernst's postpetition fees in any amount and the Lender does not
consent to this payment.

Notwithstanding the foregoing, the Debtor seeks to justify its
proposed payment of such fees by stating they would be paid from
the disputed cash collateral.  The Lender has an interest in the
disputed Cash Collateral and does not consent to the use to pay
Ernst's expenses or any sum related to the retention of Ernst or
any other party as an expert in these cases.

Wells Fargo Bank, N.A., is represented by:

         Robert M. Charles, Jr., Esq.
         Michael Lynch, Esq.
         LEWIS AND ROCA LLP
         3993 Howard Hughes Parkway, Suite 600
         Las Vegas, Nevada 89169
         Tel: 702-949-8321
         Fax: 702-216-6191
         E-mail: rcharles@lrlaw.com

               About Horizon Village Square et al.

Four related Las Vegas, Nevada-based entities sought Chapter 11
bankruptcy protection on July 13, 2011.  The businesses are owned
or managed by local business people and firms, including Todd
Nigro, Nigro Development LLC, a Nigro family trust and other
investors.

Horizon Village Square LLC (Bankr. D. Nev. Case No. 11-21034) owns
the Vons-anchored Horizon Village Square Shopping Center near
I-515 and Horizon Drive in Henderson.  The property includes five
retail buildings with nearly 43,000 square feet of space.

Ten Saints LLC (Bankr. D. Nev. Case No. 11-21028) owns the 134-
room Hampton Inn & Suites at St. Rose Parkway and Seven Hills
Drive in Henderson.

Beltway One Development Group LLC (Bankr. D. Nev. Case No. 11-
21026) owns the Desert Canyon Business Park at Russell Road and
the Las Vegas Beltway. It has two buildings and 15 acres.

Nigro HQ LLC (Bankr. D. Nev. Case No. 11-21014) owns an office
building at 9115 W. Russell Road occupied by Bank of George,
Infinity Plus LLC and Nigro Construction Inc.

Todd Nigro said the four bankruptcies were caused by threatened
foreclosures -- typically related to Wells Fargo Bank demanding
payments to keep loan-to-value ratios at specified levels.

Judge Mike K. Nakagawa presides over the cases.  Lawyers at Gordon
Silver serve as the Debtors' bankruptcy counsel.  The bankruptcy
petitions estimated assets and debts from $1 million to $10
million each for Nigro HQ; and from $10 million to $50 million in
both assets and debts for Horizon Village, Ten Saints and Beltway
One.

A fifth related business, Russell Boulder LLC, filed for
bankruptcy (Bankr. D. Nev. Case No. 10-29724) on Oct. 19, 2010.
It owns the 600-suite Siena Suites extended stay property at
Boulder Highway and Russell Road.

Edward M. Zachary, Esq., at Bryan Cave LLP, in Bryan Cave LLP, in
Phoenix, Ariz., and Robert M. Charles, Jr., Esq., at Lewis and
Roca LLP, in Los Vegas, Nev., represent Wells Fargo Bank, N.A., as
counsel.


TENET HEALTHCARE: Completes Private Offering of 6.25% Sr. Notes
---------------------------------------------------------------
Tenet Healthcare Corporation announced the successful completion
of its previously announced private offering of $900 million
aggregate principal amount of its 6.25% Senior Secured Notes due
2018.  Tenet intends to use the net proceeds from the offering to
fund the payment of the consideration for its previously announced
cash tender offer for any and all of the outstanding $714.012
million aggregate principal amount of its 9.0% Senior Secured
Notes due 2015.  In connection with the tender offer, Tenet is
also soliciting consents for certain amendments to the related
indenture governing the Notes.  The terms of the tender offer and
the consent solicitation are contained in an offer to purchase and
consent solicitation statement dated Nov. 4, 2011, and a related
letter of transmittal.  The tender offer will expire at 12:00
midnight, New York City time, on Dec. 5, 2011.

As of the consent payment deadline of 5:00 p.m., New York City
time, on Nov. 18, 2011, $712,968,000 (approximately 99.85%)
aggregate principal amount of the outstanding Notes had been
validly tendered and not validly withdrawn.  Based on such
tenders, consents have been validly delivered and not validly
revoked in respect of more than a majority of the outstanding
principal amount of the Notes, which is sufficient to approve the
proposed amendments to the indenture.  As a result, Tenet, the
guarantors of the Notes and the trustee under the indenture have
executed a supplemental indenture to amend the indenture.

Holders that validly tendered prior to the consent payment
deadline and whose notes were accepted will receive total
consideration of $1,082.44 per $1,000 principal amount of
purchased notes, which includes a consent payment of $30.00 per
$1,000 principal amount of the notes, plus accrued and unpaid
interest up to, but not including, the initial settlement date of
Nov. 21, 2011.

Holders that validly tender after the consent payment deadline,
but prior to the expiration of the tender offer, and whose notes
are accepted will receive the tender offer consideration of
$1,052.44 per $1,000 principal amount of notes, plus accrued and
unpaid interest up to, but not including, the final settlement
date, which is expected to be Dec. 6, 2011.  Holders of the Notes
that tender after the consent payment deadline will not receive a
consent payment.  Any notes tendered after the withdrawal deadline
of 5:00 p.m., New York City time, on Nov. 18, 2011, may not be
withdrawn except as required by law.

                       About Tenet Healthcare

Dallas, Texas-based Tenet Healthcare Corporation (NYSE: THC) --
http://www.tenethealth.com/-- is a health care services company
whose subsidiaries and affiliates own and operate acute care
hospitals, ambulatory surgery centers and diagnostic imaging
centers.

"Volume growth was very strong in our third quarter," said Trevor
Fetter, president and chief executive officer.  "Adjusted
admissions growth of 2.3 percent and surgery growth of 3.2 percent
drove a 3.5 percent increase in net operating revenues.  This top
line growth was further leveraged by excellent cost control and
attractive pricing increases in our new contracts with commercial
managed care payers.  Given this progress across our key
performance metrics, we are pleased to reconfirm our 2011 EBITDA
Outlook in a range of $1.175 billion to $1.275 billion."

The Company's balance sheet at Sept. 30, 2011, showed $8.29
billion in total assets, $6.51 billion in total liabilities, $16
million in redeemable noncontrolling interests in equity of
consolidated subsidiaries, and $1.76 billion in total equity.

                           *     *     *

As reported by the TCR on Aug. 5, 2010, Moody's Investors Service
affirmed its 'B2' corporate family rating for Tenet.  The rating
reflects Moody's expectation that the Company will likely see
positive free cash flow for the full year ending Dec. 31,
2010, as operating results continue to improve and litigation
settlement payments end in the third quarter.  However, the
ratings also consider the significant headwinds facing the
company, and the sector as a whole, with respect to increasing bad
debt expense, weak volume trends and changes in mix as commercial
volumes decline.

S&P's corporate credit rating on Tenet is 'B' and remains
unchanged.  The ratings agency noted that while the Company has
experience recent successes to date of a multiyear turnaround
effort, the Company has a still-weak business risk profile and
high financial leverage.

Fitch Ratings has issued its Recovery Rating review of the U.S.
Healthcare sector.  This review includes an analysis of valuation
multiples, EBITDA discounts applied, and detailed recovery
worksheets for issuers with a Fitch Issuer Default Rating of 'B+'
or lower in this sector.

Fitch Ratings has placed Tenet Healthcare Corp.'s ratings on
Rating Watch Positive.  Tenet's existing ratings are Issuer
Default Rating 'B-'; Secured bank facility 'BB-/RR1'; Senior
secured notes 'BB-/RR1'; Senior unsecured notes 'B/RR3.  The
ratings apply to approximately $4.3 billion of debt outstanding as
of Sept. 30, 2010.


TRAILER BRIDGE: Posts $1.9 Million Net Loss in Third Quarter
------------------------------------------------------------
Trailer Bridge, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $1.9 million on $31.1 million of operating
revenues for the three months ended Sept. 30, 2011, compared with
net income of $6,876 on $29.3 million of operating revenues for
the same period of 2010.

The Company's operating income for the three month period ended
Sept. 30, 2011, was $656,492 compared to $2.5 million in the same
period of the previous year.

The Company reported a net loss of $15.9 million on $85.0 million
of revenues for the nine months ended Sept. 30, 2011, compared
with net income of $596,767 on $89.8 million of operating revenues
for the same period last year.

The Company's operating loss for the nine month period ended Sept.
30, 2011, was $8.5 million compared to operating income of
$8.1 million in the prior year period.

The Company's balance sheet at Sept. 30, 2011, showed
$105.6 million in total assets, $121.2 million in total
liabilities, and a stockholders' deficit of $15.6 million.

"Through the first seven weeks in the current fourth quarter, we
have seen marked improvement in all aspects of our operations,
including higher revenues, and volume increases, William G.
Gotimer, Jr. and Mark A. Tanner, the Company's co-Chief Executive
Officers, jointly stated in a press release.   "We have achieved
this in what has been a period of perceived uncertainty regarding
our refinancing efforts."

According to the press release, Trailer Bridge has received
approval from the bankruptcy court to receive $15 million in
debtor-in-possession.  The revolving loan is intended to be used
for the financing of ordinary working capital and general
corporate needs of the Company, including certain fees and
expenses of retained professionals, and for payment of certain
pre-petition expenses.

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

                       http://is.gd/qrw07y


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

                http://ResearchArchives.com/t/s?7751

The Form 10-Q was filed late.  Trailer Bridge had informed the
U.S. Securities and Exchange Commission that its Form 10-Q for the
quarter ended Sept. 30, 2011, cannot be filed by the due date
without unreasonable effort or expense because the Company has
been focused on efforts to refinance its Senior Secured Notes due
Nov. 15, 2011.

                       About Trailer Bridge

Jacksonville, Fla.-based Trailer Bridge, Inc.
-- http://www.trailerbridge.com/-- provides integrated trucking
and marine freight service to and from all points in the lower 48
states and Puerto Rico and Dominican Republic.  This total
transportation system utilizes its own trucks, drivers, trailers,
containers and U.S. flag vessels to link the mainland with Puerto
Rico via marine facilities in Jacksonville, San Juan and Puerto
Plata.

Trailer Bridge filed a voluntary Chapter 11 petition (Bankr. M.D.
Fla. Case No. 11-08348) on Nov. 16, 2011, one day after its
$82.5 million 9.25% Senior Secured Notes became due.

Judge Jerry A. Funk presides over the case.   Gardner F. Davis,
Esq., at Foley & Lardner LLP, and DLA Piper LLP (US) serve as the
Debtor's counsel.  Global Hunter Securities LLC serves as the
Debtor's investment banker.  RAS Management Advisors LLC serves as
the Debtor's financial advisor.  In its petition, the Debtor
estimated $100 million to $500 million in assets and debts.  The
petition was signed by Mark A. Tanner, co-chief executive officer.


TRAVELPORT HOLDINGS: Judge Dismisses 4 Counts in Antitrust Case
---------------------------------------------------------------
A federal judge in Texas has dismissed all but one count of
American Airlines' antitrust case against Travelport.  In a sealed
decision issued on Nov. 21, 2011, the United States District Court
for the Northern District of Texas dismissed AA's claims that: (1)
Travelport monopolizes distribution to travel agencies; (2)
Travelport entered into a conspiracy with travel agencies to
monopolize distribution; (3) Travelport'' agreements with airlines
and travel agencies unlawfully restrain trade; and (4)
Travelport's actions are illegal under Texas state law.

The one claim the Court allowed to proceed for further factual
analysis was the claim that Travelport monopolizes access to
Travelport's current travel agency subscriber base.
Monopolization claims based on such narrowly defined markets
rarely succeed, and a similar claim brought against a competitor
was recently rejected by a federal court in New York.

AA has until Dec. 5, 2011, to amend its complaint, but is not
allowed to reassert the claims that Travelport's agreements with
airlines and travel agencies unlawfully restrain trade or that
Travelport's actions violate Texas state law.

Travelport is pleased that the Court recognized the meritless
nature of most of the claims brought by AA and severely restricted
the scope of AA's remaining claim.  Travelport will continue to
defend itself vigorously against this limited claim which
Travelport views as being wholly without merit.  Travelport
remains confident that, after analyzing the facts, the Court will
find this claim as meritless as AA's other claims.  While no
assurance can be provided, Travelport does not believe the outcome
of this dispute will have a material adverse effect on its results
of operations or liquidity condition.

                      About Travelport Holdings

Travelport Holdings is the direct parent of Travelport Limited, is
a broad-based business services company and a leading provider of
critical transaction processing solutions to companies operating
in the global travel industry.  With a presence in 160 countries
and approximately 3,500 employees, Travelport is comprised of the
global distribution system (GDS) business, which includes the
Galileo and Worldspan brands and its Airline IT Solutions
business, which hosts mission critical applications and provides
business and data analysis solutions for major airlines.

Travelport also owns approximately 48% of Orbitz Worldwide (NYSE:
OWW), a leading global online travel company.  Travelport is a
private company owned by The Blackstone Group, One Equity
Partners, Technology Crossover Ventures, and Travelport
management.

Travelport Holdings Limited is a holding company with no direct
operations.  Its principal assets are the direct and indirect
equity interests it holds in its subsidiaries, including
Travelport Limited.

Travelport Limited, a direct subsidiary of Travelport Holdings
Limited, reported net income of $283 million on $1.061 billion of
of net revenue for the six months ended June 30, 2011, compared
with net income of $1 million on $1.056 billion of net revenue for
the same period of 2010.  Results for the six months ended
June 30, 2011, includes gain of $312 million, net of tax, from the
sale of sale of the Gullivers Travel Associates ("GTA") business
to Kuoni Travel Holdings Limited ("Kuoni").  The sale was
completed on May 5, 2011.

Loss from continuing operations was $4 million during the six
months ended June 30, 2011, compared with a loss of $2 million for
the same period of 2010.

The Company's balance sheet at Sept. 30, 2011, showed
$3.43 billion in total assets, $4.21 billion in total liabilities
and a $780 million total deficit.

                           *     *     *

As reported by the TCR on Oct. 10, 2011, Standard & Poor's Ratings
Services lowered its long-term corporate credit ratings on travel
services provider Travelport Holdings Limited (Travelport
Holdings) and indirect subsidiary Travelport LLC (Travelport) to
'SD' (selective default) from 'CC'.

The downgrades follow the implementation of a capital
restructuring, which was necessary because of the Travelport
group's high leverage, weak liquidity, and the upcoming maturity
of its $693 million (as of end-June 2011) PIK loan in March 2012.
"According to our criteria, we view this restructuring as a
distressed exchange and tantamount to a default (see 'Rating
Implications Of Exchange Offers And Similar Restructurings,
Update,' published May 12, 2009, on RatingsDirect on the Global
Credit Portal)," S&P related.


TTC PLAZA: Taps Jack N. Fuerst & Assoc. as General Counsel
----------------------------------------------------------
TTC Plaza Limited Partnership asks the U.S. Bankruptcy Court for
the Southern District of Texas for permission to employ Jack N.
Fuerst & Associates P.C. as its general counsel.

The firm agrees to, among other things:

   a) prepare and file schedules and a statement of financial
      affairs;

   b) negotiate with creditors and handle routine motions as
      motions for relief from stay, cash collateral motions and
      the myriad of bankruptcy motions that will be filed in this
      case;

   c) file objections to claims, if necessary;

   d) perform legal work necessary to sell property of the estate;
      and

   e) draft, file and prosecute adversary proceedings necessary to
      determine the extent, validity and priority of liens.

Jack N. Feurst, Esq., charges $350 per hour for this engagement.
Paralegal at the firm bills at $80 per hour.

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

                        About TTC Plaza L.P.

TTC Plaza L.P. filed for Chapter 11 bankruptcy (Bankr. S.D. Tex.
Case No. 11-38381) on Oct. 3, 2011, before Judge Marvin Isgur.
Jack Nicholas Fuerst, Esq., in Houston, Texas, represents the
Debtor.  The Debtor scheduled assets of $12,016,768 and
liabilities of $5,312,263. The petition was signed by William Wu,
managing partner.


TTC PLAZA: 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
TTC Plaza L.P. because there are no unsecured creditors.  The U.S.
Trustee reserves the right to appoint such a committee should
interest developed among the creditors.

TTC Plaza L.P. filed for Chapter 11 bankruptcy (Bankr. S.D. Tex.
Case No. 11-38381) on Oct. 3, 2011, before Judge Marvin Isgur.
Jack Nicholas Fuerst, Esq., in Houston, Texas, represents the
Debtor.  The Debtor scheduled assets of $12,016,768 and
liabilities of $5,312,263. The petition was signed by William Wu,
managing partner.


TTC PLAZA: Jack N. Fuerst Approved as Ch. 11 Trustee's Counsel
--------------------------------------------------------------
The Hon. Marvin Isgur of the U.S. Bankruptcy Court for the
Southern District of Texas authorized the Chapter 11 trustee for
TTC Plaza Limited Partnership to employ Jack N. Fuerst &
Associates, P.C. as its general counsel.

The firm will, among other things:

   -- negotiate with creditors and handle routine motions as
      motions for relief from stay, cash collateral motions and
      the like;

   -- perform legal work necessary to sell property of the estate;
      and

   -- prepare a plan and disclosure statement.

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

                        About TTC Plaza L.P.

TTC Plaza L.P. filed for Chapter 11 bankruptcy (Bankr. S.D. Tex.
Case No. 11-38381) on Oct. 3, 2011, before Judge Marvin Isgur.
Jack Nicholas Fuerst, Esq., in Houston, Texas, represents the
Debtor.  The Debtor scheduled assets of $12,016,768 and
liabilities of $5,312,263. The petition was signed by William Wu,
managing partner.


TURKPOWER CORP: Inks Binding Term Sheet to Merge with ACM
---------------------------------------------------------
TurkPower Corporation, entered into a binding term sheet with ACM
Corporation and Navesink Capital Advisors, pursuant to which
Navesink or its affiliates or agents will assist ACM and TurkPower
Corporation in connection with a merger and related transactions.

ACM is a privately held corporation that owns 100% of its
subsidiary Burkina Manganese, S.A., in production with its "Kiere"
manganese mine, and 90% of Mali Manganese, S.A., with its
"Ansongo" manganese mine, expected to be in production in the
first quarter of 2012.  These current mining operations are
located in the West African countries of Burkina Faso and Mali.
Manganese, necessary in the production of steel, is considered a
strategic metal by developed and developing countries around the
world.

Pursuant to the Term Sheet, ACM will merge with and into a
subsidiary of TurkPower, with ACM as the surviving corporation, in
which the outstanding shares of ACM will be exchanged for (a) 105
million shares of common stock of TurkPower, pro rata and (b) for
certain long-term ACM stockholders, 1,000 shares of perpetual
convertible voting preferred stock of TurkPower with an aggregate
liquidation preference of $65 million, convertible into TurkPower
Common Stock at $0.50 of liquidation preference per share of
TurkPower Common Stock.

Certain existing indebtedness of ACM to ACM's Chairman and CEO,
Mr. Louis Slaughter, in the approximate principal amount of
$1,500,000, and any accrued interest thereon, would be converted
upon the Merger into additional shares of TurkPower Preferred at
100% of the liquidation value, or approximately $1,500,000
liquidation preference of TurkPower Preferred, making an aggregate
of approximately $66,500,000 aggregate liquidation preference
(1,023 shares) of TurkPower Preferred to be issued at the time of
the Merger.  The TurkPower Preferred would have 130,000 votes per
share and would vote together with the common stock of TurkPower
on all matters submitted to a vote of shareholders.

The Merger is intended to qualify as a tax-free reorganization
under the U.S. Internal Revenue Code.  The Merger would be treated
as a reverse merger and recapitalization of TurkPower for
financial accounting purposes, in which ACM would be considered
the acquirer for accounting purposes, and the historical financial
statements of TurkPower before the Merger would be replaced with
the historical financial statements of ACM before the Merger in
all filings with the SEC after the merger.

The definitive Merger agreement is expected to provide that if (a)
TurkPower obtains an Canadian NI 43-101 or Australasian JORC
compliant independent engineering report certifying proven
reserves of at least 15 million metric tons of manganese, or (b)
TurkPower reports audited gross revenues of at least $60 million
for fiscal 2012 in its Form 10-K report for that year, or (c)
TurkPower reports audited gross revenues of at least $80 million
for fiscal 2013 in its Form 10-K report for that year, then
TurkPower shall issue an additional 18,650,000 restricted shares
of TurkPower common stock to the stockholders of ACM receiving the
TurkPower Preferred in the Merger.

Prior to the Merger, TurkPower will use its best efforts to raise
bridge financing of $1.5 million, out of the proceeds of which it
would (a) lend $1 million to ACM on a secured basis, (b) place in
escrow up to $500,000 for an investor relations program, and (c)
use the remainder of the net proceeds to meet specific working
capital requirements of TurkPower to be defined and agreed upon by
ACM and TurkPower prior to execution of the Bridge Notes.

After the Merger, TurkPower will seek to raise between $5,000,000
and $15,000,000 of additional financing to carry out its business
plan, although there can be no assurance that such financing will
be available on terms acceptable to TurkPower or at all.

It is anticipated that upon the closing of the Merger, Mr.
Slaughter will become Chairman and CEO of TurkPower; that the pre-
Merger stockholders of ACM will appoint the majority of the
directors on the Board of Directors of TurkPower; that Mr. Ryan E.
Hart, currently executive Chairman and Director of TurkPower, will
remain and a director; and that a majority of the Board of
Directors will be independent directors within the meaning of the
rules of a U.S. national securities exchange.  Turk Power expects
to rename itself ACM Corporation.

The anticipated closing date for the bridge financing will be on
or before Dec. 1, 2011, and the anticipated closing date for the
Merger will be on or before Jan. 31, 2012.

Effective Nov. 15, 2011, Mr. Aykut Ferah resigned as a director
and as Chief Executive Officer and Chief Financial Officer of
TurkPower.  To the knowledge of the other executive officers of
TurkPower, Mr. Ferah's resignation as a director was not because
of any disagreement with TurkPower on any matter relating to
TurkPower's operations, policies or practices.

Effective Nov. 16, 2011, Mr. Richard Schaeffer resigned as a
director of TurkPower.  To the knowledge of the executive officers
of TurkPower, Mr. Schaeffer's resignation as a director was not
because of any disagreement with TurkPower on any matter relating
to TurkPower's operations, policies or practices.

Effective November 16, 2011, the Board of Directors of TurkPower
appointed Mr. Ryan E. Hart as Interim Chief Executive Officer and
Interim Chief Financial Officer of TurkPower, to serve at the
pleasure of the Board of Directors.  Mr. Hart's curriculum vitae,
security ownership in TurkPower, compensation from TurkPower and
certain other information about him are contained in Part III of
TurkPower's Annual Report on Form 10-K for the fiscal year ended
May 31, 2011.

                      About TurkPower Corporation

New York-based TurkPower Corporation (formerly Global Ink Supply
Co.) was incorporated on Nov. 4, 2004, in Delaware.  On May 11,
2010, Global Ink Supply Co. changed its name to TurkPower
Corporation.

On Dec. 23, 2009, the Company entered into the consulting and
service operations business, offering domestic and international
clients consulting services.  The Company acts as a full-service
operator for wind, hydro, solar, and geothermal energy parks in
Turkey.  The Company also generates revenue by entering into
agreements with other entities to provide consulting services to
clients in the energy market.

The Company reported a net loss of $5.86 million on $64,308 of
revenue for the year ended May 31, 2011, compared with a net loss
of $511,149 on $215,050 of revenue during the prior year.

The Company's balance sheet at Aug. 31, 2011, showed $10.09
million in total assets, $3.71 million in total liabilities and
$6.37 million in total stockholders' equity.

MaloneBailey LLP, in Houston, Texas, noted that the Company has
incurred losses from operations and has a working capital deficit
as of May 31, 2011, which raises substantial doubt about its
ability to continue as a going concern.


U-SWIRL INC: Posts $71,600 Net Loss in Third Quarter
----------------------------------------------------
U-Swirl, Inc., formerly Healthy Fast Food, Inc., filed its
quarterly report on Form 10-Q, reporting a net loss of $71,599 on
$802,803 of revenues for the three months ended Sept. 30, 2011,
compared with a net loss of $57,705 on $760,403 of revenues for
the same period last year.

The Company reported a net loss of $314,840 on $2.2 million of
revenues for the nine months ended Sept. 30, 2011, compared with a
net loss of $359,416 on $2.2 million of revenues for the same
period of 2010.

The Company's balance sheet at Sept. 30, 2011, showed $2.5 million
in total assets, $768,582 in total liabilities, and stockholders'
equity of $1.8 million.

As reported in the TCR on March 15, 2011, L.L. Bradford & Company,
LLC, in Las Vegas, expressed substantial doubt about Healthy Fast
Food's ability to continue as a going concern, following the
Company's 2010 results.  The independent auditors noted that
Company has incurred recurring losses and lower-than-expected
sales.

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

                       http://is.gd/xaAiuI

Henderson, Nev.-based U-Swirl, Inc., opened its first company-
owned U-Swirl cafe in the Las Vegas metropolitan statistical area
in March 2009, and it has since developed five more company-owned
cafes in the Las Vegas MSA.  In addition, the original U-Swirl
cafe in Henderson, Nevada, continues to operate as a franchisee.


UNIVERSITY GENERAL: Reports $1.1-Mil. Net Income in 3rd Quarter
---------------------------------------------------------------
University General Health System, Inc. (f/k/a SeaBridge Freight,
Corp.) filed its quarterly report on Form 10-Q, reporting net
income of $1.1 million on $21.0 million of revenues for the three
months ended Sept. 30, 2011, compared with a net loss of $80,977
on $15.0 million of revenues for the same period of 2010.

The net income of $1.1 million was primarily derived from a one-
time $1.9 million gain from extinguishment of liabilities during
the quarter ended September 30, 2011.

The Company reported net income of $416,694 on $55.0 million of
revenues for the nine months ended Sept. 30, 2011, compared with a
net loss of $2.6 million on $40.3 million of revenues for the
corresponding period last year.

For the nine months ended Sept. 30, 2011 and 2010, the Company
recognized a gain on extinguishment of liabilities of $3.4 million
and $1.8 million, respectively.

The Company's balance sheet at Sept. 30, 2011, showed
$118.1 million in total assets, $113.6 million in total
liabilities, and stockholders' equity of $4.5 million.

During the nine months ended Sept. 30, 2011, the Company had a net
income [attributable to Company] of $377,946 and used $3,227,152
of net cash in operating activities.  As of Sept. 30, 2011, the
Company had a negative working capital of $47,585,217 and held
cash and cash equivalents of $622,959.  "The cash used in
operations and negative working capital amounts raise substantial
doubt concerning the Company's ability to continue as a going
concern for a reasonable period of time," the Company said in the
filing.

Moss, Krusick & Associates, LLC, in Winter Park, Fla., expressed
substantial doubt about SeaBridge Freight's ability to continue as
a going concern, following the Company's results for the fiscal
year ended Dec. 31, 2010.  The independent auditors noted that the
Company has suffered recurring losses and operating cash outflows
and has suspended revenue generating operations.

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

                       http://is.gd/bYaety

University General Health System, Inc, is a diversified,
integrated, multi-specialty health care provider that delivers
concierge physician and patient oriented services.  At Sept. 30,
2011, the Company owned and operated University General Hospital
("UGH"), a 72-bed acute care hospital in Houston, Texas.  UGH
commenced business operations as a general acute care hospital on
Sept. 27, 2006.  The Company is headquartered in Houston, Texas.


VIRGIN OFFSHORE: Ch. 11 Trustee Wants Clarification on Counsel Fee
------------------------------------------------------------------
Gerald H. Schiff, Chapter 11 trustee for the estate of Virgin
Offshore USA, Inc., asks the U.S. Bankruptcy Court for the Eastern
District of Louisiana to:

   1) enter an order clarifying, or, alternatively, reconsidering
   its interim order to make it clear that the Court will
   determine the reasonable hourly rate that can be charged by
   Gordon, Arata, McCollam, Duplantis & Eagan, LLC; and

   2) enter a revised interim order substantially in the form
   approving the employment of GAMDE, and reserving until final
   hearing upon the GAMDE final fee applications, the
   determination by the Court of the reasonableness of GAMDE's
   customary rates.

As reported in the Troubled Company Reporter on Nov. 17, 2011, the
Hon. Elizabeth W. Magner authorized, on an interim basis, the
Chapter 11 trustee to employ the law firm of GAMDE as counsel.

The trustee related that in its motion to employ, it attached a
list of the customary rates charged by GAMDE for relevant
services, including the customary rate charged by Louis M.
Phillips of $425 per hour.  The application made clear that any
fees would be applied for as compensation.  The trustee also
submitted a proposed order, authorizing the trustee to retain
GAMDE as counsel.

According to the trustee, the Court did not enter the proposed
order but, instead, without notice or a hearing, entered the
interim order, sua sponte reducing the rates that could be charged
by GAMDE.

Given that the form of proposed order was rejected by the Court,
it seems clear to GAMDE that the Court rejected the prospect of
GAMDE reserving the right to seek compensation at its customary
rates and has limited the ability of GAMDE to charge at rates
higher than those pre-approved unless and until GAMDE makes
another request and then, only for prospective relief.

The trustee is represented by:

         Louis M. Phillips, Esq.
         Ryan J. Richmond, Esq.
         GORDON, ARATA, MCCOLLAM, DUPLANTIS & EAGAN, L.L.C.
         One American Place
         301 Main Street, Suite 1600
         Baton Rouge, LA 70801-1916
         Tel: (225) 381-9643
         Fax: (225) 336-9763
         E-mail: lphillips@gordonarata.com
                 rrichmond@gordonarata.com

                     About Virgin Offshore

Virgin Offshore USA, Inc., based in New Orleans, Louisiana,
produces oil and gas.  Creditors Dynamic Energy Services LLC,
Precision Drilling Company, LP, and Tanner Services LLC, owed
$1,895,824 in the aggregate, commenced an involuntary Chapter 11
bankruptcy proceeding against Virgin Offshore USA (Bankr. E.D. La.
Case No. 11-13028) on Sept. 16, 2011.  The petitioning creditors
are represented by Michael A. Crawford, Esq., at Taylor Porter
Brooks & Phillips LLP, H. Kent Aguillard, Esq., at Young, Hoychick
and Aguillard; and Jacque B. Pucheu, Jr., Esq., at Pucheu, Pucheu
& Robinson, LLP.

An affiliate of Virgin Offshore USA, Virgin Oil Company Inc.,
filed a Chapter 11 petition (Bankr. E.D. La. Case No. 09-11899) on
June 25, 2009.

The involuntary Chapter 11 bankruptcy petition against Virgin
Offshore USA, Inc., has been transferred to Judge Elizabeth W.
Magner.  The case was first given to Judge Jerry A. Brown.


VOICESERVE INC: Posts $36,100 Net Loss in Sept. 30 Quarter
----------------------------------------------------------
Voiceserve, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $36,167 on $1.0 million of revenues for
the three months ended Sept. 30, 2011, compared with a net loss of
$592,203 on $1.0 million of revenues for the three months ended
Sept. 30, 2010.

The Company reported a net loss of $1.2 million on $2.2 million of
revenues for the six months ended Sept. 30, 2011, compared with a
net loss of $466,694 on $2.1 million of revenues for the six
months ended Sept. 30, 2010.

The Company's balance sheet at Sept. 30, 2011, showed $2.5 million
in total assets, $1.2 million in total liabilities, and
stockholders' equity of $1.3 million.

As reported in TCR on July 12, 2011, Michael T. Studer CPA P.C.,
of Freeport, New York, expressed substantial doubt about
Voiceserve's ability to continue as a going concern, following the
Company's results for the fiscal year ended March 31, 2011.  Mr.
Studer noted that as of March 31, 2011, the Company had negative
working capital of $313,059.  Further, since inception, the
Company has incurred losses of $3,766,212.

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

                       http://is.gd/f3E2Y1

Headquartered in Middlesex, England, Voiceserve, Inc.
(OTC BB: VSRV) -- http://www.voiceserve.com/-- is a software
platform provider focusing primarily on delivering affordable,
complete, next generation services to Internet Telephony Providers
(ITSPs).


WATERFORD PLACE: Case Summary & 4 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Waterford Place Apartments, LLC
        dba Waterford Place Apartments, I, LLC
        P.O. Box 775
        Belvidere, IL 61008

Bankruptcy Case No.: 11-85048

Chapter 11 Petition Date: November 23, 2011

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

Judge: Manuel Barbosa

Debtor's Counsel: George P. Hampilos, Esq.
                  HAMPILOS & LANGLEY, LTD.
                  308 West State Street, Suite 210
                  Rockford, IL 61101
                  Tel: (815) 962-0044
                  Fax: (815) 962-6250
                  E-mail: georgehamp@aol.com

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

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

A list of the Company's four largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ilnb11-85048.pdf

The petition was signed by Joey Sanfilippo, manager.


WAVE SYSTEMS: Registers Add'l 5MM Class A Shares Under Plan
-----------------------------------------------------------
Wave Systems Corp. filed with the U.S. Securities and Exchange
Commission a Form S-8 registration statement registering 5 million
shares of Class A common stock issuable under the Amended and
Restated 1994 Employee Stock Option Plan.

At the Company's annual meeting on June 14, 2011, the Company's
stockholders approved an amendment to the Amended and Restated
1994 Employee Stock Option Plan, as amended, to increase the
maximum number of shares of the Class A Common Stock, par value
$0.01 per share of the Company available for the grant of awards
under the Plan by 5,000,000 shares, which the Company's Board of
Directors had previously approved, subject to such stockholder
approval.

The additional shares of Common Stock being registered by this
Registration Statement are of the same class as those securities
registered on the Prior Registration Statements and represent an
increase in the total shares of Common Stock available for
issuance under the Plan from 14,000,000 to 19,000,000.

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

                        http://is.gd/lOHobY

                        About Wave Systems

Lee, Massachusetts-based Wave Systems Corp. (NASDAQ: WAVX) --
http://www.wave.com/-- develops, produces and markets products
for hardware-based digital security, including security
applications and services that are complementary to and work with
the specifications of the Trusted Computing Group, an industry
standards organization comprised of computer and device
manufacturers, software vendors and other computing products
manufacturers.

The Company reported a net loss of $4.12 million on $26.05 million
of total net revenues for the year ended Dec. 31, 2010, compared
with a net loss of $3.34 million on $18.88 million of total net
revenues during the prior year.

The Company also reported a net loss of $5.93 million on $25.10
million of total net revenues for the nine months ended Sept. 30,
2011, compared with a net loss of $2.91 million on $19.01 million
of total net revenues for the same period during the prior year.

The Company's balance sheet at Sept. 30, 2011, showed $27.53
million in total assets, $13.23 million in total liabilities and
$14.30 million in total stockholders' equity.

Due to the early stage nature of its market category, Wave is
unable to predict with a high enough level of certainty whether
enough revenue will be generated to fund its cash flow
requirements for the twelve-months ending Sept. 30, 2012.  Given
the uncertainty with respect to Wave's revenue forecast for the
twelve-months ending Sept. 30, 2012, Wave may be required to raise
additional capital through either equity or debt financing in
order to adequately fund its capital requirements for the twelve-
months ending Sept. 30, 2012.  As of Sept. 30, 2011, the Company
had approximately $6.9 million of cash on hand and positive
working capital of approximately $1.3 million.  Considering the
Company's current cash balance and Wave's projected operating cash
requirements, the Company projects that it will have enough liquid
assets to continue operating through Sept. 30, 2012.  However, due
to the Company's current cash position, its capital needs over the
next twelve months and beyond, the fact that it may require
additional financing and uncertainty as to whether it will achieve
its sales forecast for its products and services, substantial
doubt exists with respect to its ability to continue as a going
concern.

Wave's independent registered public accounting firm has issued a
report dated March 16, 2010, that includes an explanatory
paragraph referring to its significant operating losses and
substantial doubt about its ability to continue as a going
concern.


WEST END: Can Use Northlight Cash Collateral Until Jan. 31
----------------------------------------------------------
Judge Stuart Bernstein of the U.S. Bankruptcy for the Southern
District of New York has issued a fourth interim order authorizing
West End Financial Advisors LLC and its affiliates to use the cash
collateral of Northlight Fund LP through the earlier to occur of
(a) the entry of the Court of an order terminating the Debtors'
use of Cash Collateral, (b) Jan. 31, 2012, or (c) the effective
date of any plan of reorganization confirmed by the Court.

For the sole purpose of securing the diminution in value, the
Lender is granted additional, continuing, valid, binding,
enforceable, non-avoidable, and automatically perfected
postpetition security interests in and liens on any and all real
and personal property of the Debtors.  As further adequate
protection against any diminution in value, the Lender is granted
an allowed superpriority administrative expense claim in the Cases
and any Successor Case to the extent of the Diminution in Value,
if any, determined by this Court.

As further adequate protection of the Lender's interest in the
Prepetition Collateral, the Debtors are authorized and directed to
provide adequate protection payments to the Lender.  Northlight GP
II will deliver to the Lender from the NFA Funds a payment in the
amount of $65,913.75, representing interest accrued at the non-
default rate during the months of November, December, and January,
respectively, in accordance with the provisions of the Northlight
Loan Agreement; provided, however, that the respective rights of
the Debtors, the Committee and the Lender are reserved with
respect to the Lender's entitlement to the Default Rate of
Interest.

                     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.


WS MINERAL: Disclosure Statement in Support of Plan Approved
------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas has
approved the first amended disclosure statement in support of the
plan of reorganization filed by WS Mineral Holdings, LLC (WSM).

Under the Plan, the Debtor's real estate property will be
transferred to the Class 3 Claimant in full and final satisfaction
of any and all amounts owed to the Class 3 Claimant.  The transfer
of the property will be a payment of any and all amounts owed to
the Class 3 Claimant by the Debtor and will be applied as a credit
against the indebtedness of WSM to the Class 3 Claimant.  The
transfer of the property to the Class 3 Claimant will fully and
finally pay and satisfy any and all claims of the Class 3 Claimant
against WSM or Reorganized WSM.  If the Class 3 Claimant disputes
that the value of the property transferred to the Class 3 Claimant
is equal to or greater than the Allowed Claim of the Class 3
Claimant, the Bankruptcy Court will conduct a hearing and
determine the value of the property transferred to the Class 3
Claimant.  Alternatively, but only upon the affirmative election
of the Class 3 Claimant for the treatment, WSM will retain all of
the property owned by WSM and will develop the property and sell
all or portions of the property to pay the Class 3 claims of
Providence and the Class 4 claims of UDF and, after the payment of
the Class 3 and Class 4 claims, the payment of Class 5 Claims.

The classification and treatment of claims under the Plan are:

     A. Unclassified claims, consisting of Administrative Claims
        and Priority Tax Claims, estimated at less than $20,000,
        will be paid in full on or before January 31, 2012.

     B. Class 2 (Secured Tax Claims) assessed to be $2,113.48.
        WSM will pay all Allowed Secured Tax Claims for ad valorem
        taxes for the tax years 2011 as assessed by the applicable
        taxing authorities and thereafter in the ordinary course
        of business, as administrative priority claims.

     C. Class 3 (Providence Bank Secured Claim) will be allowed in
        the amount of $12,150,435 plus accrued but unpaid
        interest, fees, costs and expenses.  The Class 3 Claim
        will be paid in full on the Effective Date by the transfer
        by special warranty of title to the Debtor's real estate
        property from WSM to Providence Bank in full and final
        payment of any and all claims.

     D. Class 4 (Secured Claim of UDF) will be allowed in the
        amount of $10,691,985 plus accrued but unpaid interest,
        fees, costs and expenses provided for under the
        prepetition UDF loan documents.  If Providence does not
        make the Providence Election, UDF will release any and all
        claims to the Providence Property.  The property owned by
        WSM that is not the Providence Property will be subject to
        liens of UDF.  The claims of UDF will be paid from the
        proceeds of sales of the Remaining WSM Property.  If
        Providence makes the Providence Election, UDF will retain
        any and all liens under the Prepetition UDF Loan
        Documents; provided however, that the Prepetition UDF Loan
        Documents will be modified and amended as necessary to
        conform to the terms of the Plan and the treatment of the
        Class 3 Claim.

     E. Class 5 (General Unsecured Claims) will receive cash equal
        to the amount of the Claim of each claimant after the full
        payment of Premier and UDF.  Within 30 days of the receipt
        of funds by WSM from the sale of any property, WSM will
        pay 80% of the funds received to Allowed Class 5 Claims;
        provided however, that the payments will only be made
        after the claims of Providence and UDF have been paid in
        full.

     F. Class 6 (Interests in the Debtor) are impaired under the
        Plan.  Each Holder of a Class 6 Interest is entitled to
        vote to accept or reject the Plan.

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

                 About South of the Stadium I, LLC

South of the Stadium I, LLC, in Carrollton, Texas, filed a Chapter
11 petition (Bankr. N.D. Tex. Case No. 11-43278) on
June 6, 2011.  Debtor-affiliates 261 CW Springs LTD (Bankr. N.D.
Tex. Case No. 11-33757), WS Minerals LLC (Bankr. N.D. Tex. Case
No. 11-43273), and WS Mineral Holdings LLC (Bankr. N.D. Tex. Case
No. 11-43290) also filed on the same day.  Judge D. Michael Lynn
presides over the cases.  Richard W. Ward, Esq. --
rwward@airmail.net -- Plano, Texas, serves as the Debtors'
bankruptcy counsel.

South of the Stadium I, WS Minerals LLC, and WS Mineral Holdings
LLC each estimated assets and debts of $10 million to $50 million
in their petitions.  261 CW Springs estimated assets and debts of
$1 million to $10 million in its petition.  The petitions were
signed by Jeff Shirley, authorized representative.


XTREME GREEN: Posts $635,900 Net Loss in Third Quarter
------------------------------------------------------
Xtreme Green Products Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $635,905 on $239,023 of sales for
the three months ended Sept. 30, 2011, compared with a net loss of
of $486,712 on $226,801 of sales for the same period last year.

The Company reported a net loss of $1.4 million on $1.5 million of
sales for the nine months ended Sept. 30, 2011, compared with a
net loss of $1.3 million on $351,731 of sales for the same period
last year.

The Company's balance sheet at Sept. 30, 2011, showed $1.4 million
in total assets, $2.1 million in total liabilities, and a
stockholders' deficit of $713,632.

Kingery & Crouse PA, in Tampa, Florida, expressed substantial
doubt about Xtreme Green Products' ability to continue as a going
concern, following the Company's 2010 results.  The independent
auditors noted that the Company has incurred significant losses
from operations and has working capital and stockholder
deficiencies.

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

                       http://is.gd/LxGqQQ

Based in North Las Vegas, Nev., Xtreme Green Products Inc. is an
eco-vehicle company that designs, develops and manufacXtures
revolutionary, green, 100% electric powered products such as
Personal Mobility Vehicles (PMVs), Motorcycles & Scooters, (ATVs)
All Terrain Vehicles, (UTVs) and Utility Terrain Vehicles.


YRC WORLDWIDE: Marc Lasry Discloses 9.5% Equity Stake
-----------------------------------------------------
In a Schedule 13G filing with the U.S. Securities and Exchange
Commission, Marc Lasry and his affiliates disclosed that, as of
Sept. 16, 2011, they beneficially own 207,136,050 shares of common
stock of YRC Worldwide Inc. representing 9.5% of the shares
outstanding based upon 2,053,961,226 shares of Common Stock
outstanding as of Oct. 31, 2011, as reported by the Company in its
Quarterly Report on Form 10-Q filed with the Securities Exchange
Commission on Nov. 9, 2011.  A full-text copy of the Schedule 13G
is available for free at http://is.gd/fpb8VT

                        About YRC Worldwide

Headquartered in Overland Park, Kan., YRC Worldwide Inc. (NASDAQ:
YRCW) -- http://www.yrcw.com/-- is a holding company that through
wholly owned operating subsidiaries offers its customers a wide
range of transportation services.  These services include global,
national and regional transportation as well as logistics.

KPMG LLP's audit reports on the consolidated financial statements
of YRC Worldwide Inc. and subsidiaries for 2009 and 2010 each
contain an explanatory paragraph that states that the Company has
experienced significant declines in operations, cash flows and
liquidity and these conditions raise substantial doubt about the
Company's ability to continue as a going concern.

The Company also reported a net loss of $264.93 million on
$3.65 billion of operating revenue for the nine months ended Sept.
30, 2011, compared with a net loss of $346.89 million on $3.24
billion of operating revenue for the same period a year ago.

The Company's balance sheet at Sept. 30, 2011, showed $2.68
billion in total assets, $2.94 billion in total liabilities and a
$262.67 million total shareholders' deficit.

                           *     *     *

In January 2011, Standard & Poor's Ratings Services placed its
'CCC-' corporate credit rating on YRC Worldwide Inc. (YRCW) on
CreditWatch developing.  At the same time, S&P is withdrawing the
existing issue level ratings on Yellow Corp.'s senior unsecured
debt, given the negligible amounts outstanding.

"The ratings on Overland Park, Kan.-based YRCW reflect its near-
term liquidity challenges, meaningful off-balance-sheet contingent
obligations related to multiemployer pension plans, as well as its
participation in the competitive, capital-intensive, and cyclical
trucking industry," said Standard & Poor's credit analyst Anita
Ogbara.  "YRCW's substantial (albeit deteriorating) market
position in the less-than-truckload (LTL) sector, which has high
barriers to entry, partially offsets these characteristics.  We
characterize YRCW's business profile as weak, financial profile as
highly leveraged, and liquidity as weak."

In the Aug. 2, 2011, edition of the TCR, Moody's Investors Service
revised YRC Worldwide Inc.'s Probability of Default Rating ("PDR")
to Caa2\LD ("Limited Default") from Caa3 in recognition of the
agreed debt restructuring which will result in losses for certain
existing debt holders.  In a related action Moody's has raised
YRCW's Corporate Family Rating to Caa3 from Ca to reflect modest
but critical improvements in the company's credit profile that
should result from its recently-completed financial restructuring.
The positioning of YRCW's PDR at Caa2\LD reflects the completion
of an offer to exchange a substantial majority of the company's
outstanding credit facility debt for new senior secured credit
facilities, convertible unsecured notes, and preferred equity,
which was completed on July 22, 2011.

As reported by the TCR on May 5, 2011, Fitch Ratings downgraded
YRC's Issuer default rating to 'C' from 'CC'; Secured bank credit
facility rating downgraded to 'CCC/RR2' from 'B-/RR2'; and Senior
unsecured rating affirmed at 'C/RR6'.  In addition, Fitch has
removed YRCW's ratings from Rating Watch Negative.  Fitch said
that although it appears increasingly likely that the company will
successfully complete the restructuring, until the transactions
constituting the restructuring close, which is not anticipated
until late July 2011, there exists a potential for the transaction
to fail, in which case Fitch expects the company would be forced
to file for Chapter 11 bankruptcy protection.


* Starwood Property Prepares for Fire Sales in Europe
-----------------------------------------------------
Dow Jones' Daily Bankruptcy Review reports that Starwood Property
Trust Inc. expects Europe's debt crisis to result in fires sales
of distressed commercial mortgage loans and buildings, and the
real estate investment trust is getting prepared.


* Amherst Securities Raises Concerns Over C-III CMBS Workout
------------------------------------------------------------
Dow Jones' Daily Bankruptcy Review reports that a specialty bond
trading firm is raising concerns over a debt forgiveness deal cut
between a well-known real estate executive and one of the largest
servicers of troubled commercial mortgage backed securities.


* FDIC Says Number of U.S. Banks in Distress Continues to Decline
-----------------------------------------------------------------
Dow Jones' Daily Bankruptcy Review reports that federal regulators
say the number of U.S. banks in financial distress continues to
decline, a trend that coincides with the ninth consecutive
profitable quarter in the banking industry.


* Bankruptcy Judge Says CDO Creditors Can Vote on Rival Plans
-------------------------------------------------------------
Dow Jones' Daily Bankruptcy Review reports that investors in a
troubled collateralized-debt obligation, or CDO, that's attempting
to liquidate under court protection will be able to vote on rival
Chapter 11 plans put forth by a pair of sparring hedge funds,
following a bankruptcy judge's recent decision.


* U.S. Regulators to Publish Results Of Big Bank 'Stress Tests'
---------------------------------------------------------------
Dow Jones' Daily Bankruptcy Review reports that regulators said
they will publish full results next year of a bruising "stress
test" of the biggest U.S. banks, in a bid to reassure investors
about the health of the financial system at a time of intense
market uncertainty.


* Hamid Soleimanian Gives Legal Assistance for Bankruptcy Filing
----------------------------------------------------------------
Hamid Soleimanian said in a press release that according to
Marketwatch.com, although foreclosure activity initially decreased
between 2010 and 2011, foreclosure activities rose 7 percent
between September and October 2011.  Default notices rose 10
percent. Stockton, Calif., leads the country in foreclosure
listings, while the state of California has eight metropolitan
areas among the 20 listed as having the most foreclosure filings
in the nation, according to Forbes.  Filing for bankruptcy can
stop foreclosure proceedings through an automatic stay. Debtors
who file for Chapter 7 bankruptcy will receive temporary
protection from foreclosure proceedings, while those who file for
Chapter 13 bankruptcy may be able to save their homes and catch up
on late or missed payments.  Los Angeles Bankruptcy Attorney,
Hamid Soleimanian, provides legal assistance for filing for
bankruptcy.

California bankruptcy attorney Soleimanian has aggressively and
honestly represented clients for the past 14 years from one of Los
Angeles' most highly respected multi-practice law firms, the Law
Office of Hamid Soleimanian.  An active member of the California
State Bar Association, Soleimanian has been honored with the
Amjure Award for Lawyering Skills and Practicum.

Bankruptcy is a constitutionally protected right that provides
debtors with a financial fresh start by discharging many or even
all of their debts. B ankruptcy provides many valuable protections
to petitioners by stopping foreclosure and repossession
proceedings and other creditor actions, including wage
garnishments.  Hamid Soleimanian, bankruptcy lawyer in California,
can help debtors who are struggling with excessive debts learn
whether or not bankruptcy may be the right option for them.

Whether an individual is filing for Chapter 13 or Chapter 7
bankruptcy, bankruptcy exemptions can protect a percentage of his
or her property.  These exemptions can be applied to a portion of
equity in a home, vehicle, or other personal property.  Los
Angeles bankruptcy lawyer Hamid Soleimanian helps people determine
which bankruptcy is right for their situations and how they can
best use exemptions to their advantage.

Contact Mr Soleimanian, Bankruptcy Lawyer Los Angeles

It may be possible to avoid foreclosure through bankruptcy.  Hamid
Soleimanian, bankruptcy attorney in Los Angeles, helps
Californians with personal or business bankruptcy and is dedicated
to helping his clients achieve freedom from burdensome debt. Visit
http://www.mrlawwiz.comfor more information about the services
provided by this attorney. You can also call                    or
visit their office at 16633 Ventura Blvd., Suite 503 in Encino, CA
91436.


* BOND PRICING -- For Week From Nov. 21 to 25, 2011
---------------------------------------------------

  Company             Coupon     Maturity  Bid Price
  -------             ------     --------  ---------
AHERN RENTALS           9.25    8/15/2013     18.80
AMBAC INC               9.38     8/1/2011     10.00
AMBAC INC               9.50    2/15/2021      9.89
AMBAC INC               7.50     5/1/2023     10.00
AMBAC INC               5.95    12/5/2035     14.00
AMBAC INC               6.15     2/7/2087      1.38
AMERICAN ORIENT         5.00    7/15/2015     31.33
AMR CORP                9.00     8/1/2012     73.10
AMR CORP                6.25   10/15/2014     41.25
BANK NEW ENGLAND        8.75     4/1/1999     14.00
BANK NEW ENGLAND        9.88    9/15/1999     14.00
BANKUNITED FINL         3.13     3/1/2034      5.50
BDN-CALL12/11           3.88   10/15/2026     99.06
BDN-CALL12/11           3.88   10/15/2026    100.00
BLOCKBUSTER INC        11.75    10/1/2014      2.13
CAPMARK FINL GRP        5.88    5/10/2012     50.50
CENTRAL EUROPEAN        3.00    3/15/2013     46.00
CIRCUS & ELDORAD       10.13     3/1/2012     68.50
CLEARWIRE COMM          8.25    12/1/2040     30.39
CLEARWIRE COMM          8.25    12/1/2040     30.39
CONTL AIRLINES          8.75    12/1/2011     99.90
DELTA PETROLEUM         3.75     5/1/2037     80.50
DGAS-CALL12/11          7.00     2/1/2023     97.10
DIODES-CALL12/11        2.25    10/1/2026     99.85
DIRECTBUY HLDG         12.00     2/1/2017     23.00
DIRECTBUY HLDG         12.00     2/1/2017     23.25
DUKE REALTY LP          3.75    12/1/2011     99.84
DUNE ENERGY INC        10.50     6/1/2012     58.87
DYNEGY HLDGS INC        8.75    2/15/2012     69.75
EASTMAN KODAK CO        7.25   11/15/2013     44.28
EDDIE BAUER HLDG        5.25     4/1/2014      6.75
ELEC DATA SYSTEM        3.88    7/15/2023     96.50
ENERGY CONVERS          3.00    6/15/2013     45.50
EVERGREEN SOLAR        13.00    4/15/2015     53.00
FAIRPOINT COMMUN       13.13     4/1/2018      1.00
FAIRPOINT COMMUN       13.13     4/2/2018      1.00
FIBERTOWER CORP         9.00   11/15/2012     47.38
FIBERTOWER CORP         9.00     1/1/2016     34.75
FORD MOTOR CRED         7.00   11/26/2011     99.80
GLOBALSTAR INC          5.75     4/1/2028     30.50
GMX RESOURCES           5.00     2/1/2013     62.50
GMX RESOURCES           5.00     2/1/2013     58.33
GREAT ATLA & PAC        5.13    6/15/2011     11.00
HAWKER BEECHCRAF        8.50     4/1/2015     28.25
HAWKER BEECHCRAF        9.75     4/1/2017     15.50
HORIZON LINES           4.25    8/15/2012     69.00
K HOVNANIAN ENTR        6.50    1/15/2014     54.25
K HOVNANIAN ENTR       11.88   10/15/2015     54.00
K HOVNANIAN ENTR        7.50    5/15/2016     33.50
KELLWOOD CO             7.63   10/15/2017     24.50
KSU-CALL12/11          13.00   12/15/2013    113.53
LEHMAN BROS HLDG        0.25    6/29/2012     23.00
LEHMAN BROS HLDG        6.00    7/19/2012     23.50
LEHMAN BROS HLDG        3.00   10/28/2012     25.13
LEHMAN BROS HLDG        3.00   11/17/2012     24.25
LEHMAN BROS HLDG        5.00    1/22/2013     23.25
LEHMAN BROS HLDG        5.63    1/24/2013     25.56
LEHMAN BROS HLDG        5.10    1/28/2013     22.50
LEHMAN BROS HLDG        5.00    2/11/2013     22.25
LEHMAN BROS HLDG        4.80    2/27/2013     23.50
LEHMAN BROS HLDG        4.70     3/6/2013     23.88
LEHMAN BROS HLDG        5.00    3/27/2013     23.50
LEHMAN BROS HLDG        5.75    5/17/2013     24.25
LEHMAN BROS HLDG        5.25    1/30/2014     23.13
LEHMAN BROS HLDG        4.80    3/13/2014     25.25
LEHMAN BROS HLDG        5.00     8/3/2014     23.51
LEHMAN BROS HLDG        6.20    9/26/2014     25.75
LEHMAN BROS HLDG        5.15     2/4/2015     23.00
LEHMAN BROS HLDG        5.25    2/11/2015     23.13
LEHMAN BROS HLDG        8.80     3/1/2015     23.13
LEHMAN BROS HLDG        7.00    6/26/2015     23.63
LEHMAN BROS HLDG        8.50     8/1/2015     23.75
LEHMAN BROS HLDG        5.00     8/5/2015     23.26
LEHMAN BROS HLDG        7.00   12/18/2015     23.47
LEHMAN BROS HLDG        5.50     4/4/2016     25.00
LEHMAN BROS HLDG        8.92    2/16/2017     24.38
LEHMAN BROS HLDG        5.60    1/22/2018     23.00
LEHMAN BROS HLDG        6.00    2/12/2018     23.50
LEHMAN BROS HLDG        5.25     3/5/2018     21.50
LEHMAN BROS HLDG        8.05    1/15/2019     21.00
LEHMAN BROS HLDG        7.00    4/16/2019     22.00
LEHMAN BROS HLDG        8.75   12/21/2021     23.50
LEHMAN BROS HLDG       11.00    6/22/2022     23.50
LEHMAN BROS HLDG       11.00    7/18/2022     22.75
LEHMAN BROS HLDG       11.00    8/29/2022     20.00
LEHMAN BROS HLDG       11.50    9/26/2022     23.50
LEHMAN BROS HLDG        9.00   12/28/2022     21.75
LEHMAN BROS HLDG        9.50   12/28/2022     23.50
LEHMAN BROS HLDG        9.50    1/30/2023     22.50
LEHMAN BROS HLDG        9.50    2/27/2023     23.50
LEHMAN BROS HLDG        9.00     3/7/2023     22.13
LEHMAN BROS HLDG       10.00    3/13/2023     23.63
LEHMAN BROS HLDG       18.00    7/14/2023     25.75
LEHMAN BROS HLDG       10.38    5/24/2024     22.00
LEHMAN BROS HLDG       11.00    3/17/2028     23.75
LEHMAN BROS INC         7.50     8/1/2026     14.00
LIFEPT VILGE            8.50    3/19/2013     49.50
MAJESTIC STAR           9.75    1/15/2011      4.00
MANNKIND CORP           3.75   12/15/2013     53.00
METLIFE INC             6.13    12/1/2011    100.03
MF GLOBAL HLDGS         6.25     8/8/2016     32.00
MF GLOBAL LTD           9.00    6/20/2038     30.25
MOHEGAN TRIBAL          8.00     4/1/2012     65.63
MOHEGAN TRIBAL          6.13    2/15/2013     69.75
MOHEGAN TRIBAL          7.13    8/15/2014     48.13
MOHEGAN TRIBAL          7.13    8/15/2014     39.50
NGC CORP CAP TR         8.32     6/1/2027     21.50
PENSON WORLDWIDE        8.00     6/1/2014     39.89
PMI CAPITAL I           8.31     2/1/2027      0.50
PMI GROUP INC           6.00    9/15/2016     22.75
QUICKSILVER RES         1.88    11/1/2024     96.77
RADIAN GROUP            5.63    2/15/2013     66.28
REAL MEX RESTAUR       14.00     1/1/2013     44.00
RESIDENTIAL CAP         8.50     6/1/2012     85.50
RESIDENTIAL CAP         8.50    4/17/2013     89.00
RESIDENTIAL CAP         8.88    6/30/2015     44.13
RESTAURANT CO          10.00    10/1/2013     20.00
RYERSON TULL INC        8.25   12/15/2011     98.00
SO-CALL12/11            5.65   12/15/2040    100.13
TENET HEALTHCARE        6.38    12/1/2011    100.00
TEXAS COMP/TCEH        10.25    11/1/2015     34.38
TEXAS COMP/TCEH        10.25    11/1/2015     38.15
TEXAS COMP/TCEH        10.25    11/1/2015     35.00
THORNBURG MTG           8.00    5/15/2013      8.13
TIMES MIRROR CO         7.25     3/1/2013     38.25
TOUSA INC               9.00     7/1/2010     20.00
TRAVELPORT LLC         11.88     9/1/2016     36.50
TRAVELPORT LLC         11.88     9/1/2016     34.63
TRIBUNE CO              5.25    8/15/2015     36.25
TRICO MARINE            3.00    1/15/2027      1.50
TRICO MARINE SER        8.13     2/1/2013      7.00
VIRGIN RIVER CAS        9.00    1/15/2012     51.00
WCI COMMUNITIES         4.00     8/5/2023      1.57
WESTERN EXPRESS        12.50    4/15/2015     36.38
WESTERN EXPRESS        12.50    4/15/2015     39.00
WILLIAM LYON INC       10.75     4/1/2013     30.00
WILLIAM LYON INC        7.50    2/15/2014     24.50
WILLIAM LYONS           7.63   12/15/2012     30.00



                           *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers"
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors" Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Howard C. Tolentino, Joseph Medel C. Martirez, Denise
Marie Varquez, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R.
Villacampa, Sheryl Joy P. Olano, Carlo Fernandez, Christopher G.
Patalinghug, and Peter A. Chapman, Editors.

Copyright 2011.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
Beard at 240/629-3300.


                  *** End of Transmission ***