TCR_Public/111215.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

          Thursday, December 15, 2011, Vol. 15, No. 347

                            Headlines

216 WEST 18: Court OKs Bryan Cave as Bankruptcy Counsel
A & F SERVICE: Case Summary & 4 Largest Unsecured Creditors
ACJ TRUE: Case Summary & 18 Largest Unsecured Creditors
AHNO LLC: Court Confirms Exit Plan for Ambassador Hotel
ALANCO TECHNOLOGIES: Posts $305,600 Net Loss in Sept. 30 Quarter

AMBASSADORS INT'L: Creditors Give Up on Whippoorwill Lawsuit
AS SEEN ON TV: Enters Into Contractor Agreement with Stratcon
BANKS HOLDING: Court to Hear RBC Dismissal Motion on Dec. 21
BERNARD L. MADOFF: HSBC Going Up on Appeal With JPMorgan
BERNARD L. MADOFF: Picard Sues Credit Suisse for $375MM

BP CLOTHING: Files for Bankruptcy Protection
CAPARRA HILLS: Fitch Affirms 'BB' Issuer Default Rating
CB HOLDING: Charlie Brown's Seeks Fourth Exclusivity Extension
CLARE AT WATER: Agrees that Escrow Agent Pay Authority Claims
CLEAR CHANNEL: Board OKs Indemnification Pacts with Executives

CONTINENTAL COMMON: Reorganization Plan Declared Effective
CORDIA COMMUNICATIONS: U.S. Trustee Wants Examiner Appointed
DEAN FOODS: Fitch Affirms Junk Rating on Senior Unsecured Debt
DESERT GARDENS: U.S. Trustee Unable to Form Committee
DESMARAIS ENERGY: Creditors OK Proposed Debt Restructuring

DETROIT, MI: To Sell $493M Municipal Bond as State Takeover Looms
DETROIT, MI: Fitch Puts 'BB-' ULTGO Bond Ratings on Watch Neg.
DIPPIN' DOTS: Seeks to Employ Harpeth Capital as Broker
DIPPIN' DOTS: Court OKs Farmer & Wright as Bankruptcy Counsel
DALLAS ROADSTER: Voluntary Chapter 11 Case Summary

DRINKS AMERICAS: Incurs $384,000 Net Loss in Oct. 31 Quarter
ECO SOLAR: Case Summary & 12 Largest Unsecured Creditors
EDWARD DEETS: Section 341(a) Meeting Scheduled for Jan. 27
EMPRESAS INTEREX: Hires Cuprill Law Office as Bankr. Counsel
EMPRESAS INTEREX: Sec. 341 Creditors' Meeting Set for Jan. 13

FILENE'S BASEMENT: Committee Taps Richard Layton as Co-Counsel
FILENE'S BASEMENT: Committee Hires Munger Tolles as Counsel
FILENE'S BASEMENT: Syms Equity Committee Defends Right to Exist
FIRST STREET: Wins OK to Hire Macdonald & Associates as Attorneys
FORMATECH, INC: Cancer Drug Formulation Needs to be Redone

FRIENDLY ICE CREAM: Section 341(a) Meeting Scheduled for Jan. 17
FRIENDLY ICE CREAM: Wells Fargo Says No Rivals Stepping Up to Bid
GELT PROPERTIES: Court OKs Craig Howe as Committee's Accountants
GRAND CANYON EQUITY: Buffalo Wild Wings Wins TRO for Trademark
GREEN ENDEAVORS: Files Form S-8, Registers 300MM Common Shares

GREEN PLANET: Amends Sept. 30 Form 10-Q to Correct "Typo" Errors
HARRISBURG, PA: McKenna Long Provides Counsel to Receiver
HARRISBURG, PA: Judge Declines to Reverse Dismissal Ruling
HUBBARD PROPERTIES: IWA Secured Claim Paid Over 15-Year Period
IEDA ENTERPRISE: Voluntary Chapter 11 Case Summary

IMAGINART LLC: Case Summary & 20 Largest Unsecured Creditors
INTEGRATED ENVIRONMENTAL: Engages TrueLogix to Sell EcaFlo
INT'L ENVIRONMENTAL: Wants Case Reopened to Accept Sale Offer
JAMES RIVER: Wellington Management Discloses 1.3% Equity Stake
JAMESON INNS: Section 341(a) Meeting Continued to Jan. 12

KOREA TECHNOLOGY: Examiner Can Hire Piercy Bowler as Accountants
L.A. DODGERS: Files Amended Schedules of Assets and Liabilities
L.A. DODGERS: Win Right to Auction Off Television Rights
LAGUARDIA ASSOCIATES: Hotel Operator Faces Involuntary Bankruptcy
LAGUARDIA ASSOCIATES: Court Keen on Collecting Full Filing Fee

LA VILLITA: Plan to Pay Unsec. Creditors Over 3-Year Period
LEE ENTERPRISES: Hires Garden City Group as Noticing Agent
LEE ENTERPRISES: Can Keep Spending as it Races to Exit Ch. 11
LENOX 126: Will Seek Confirmation of Plan at Dec. 20 Hearing
MAIN AERIAL: Case Summary & 18 Largest Unsecured Creditors

MAJESTIC CAPITAL: Plan Contemplates Orderly Wind-Down of Debtors
MARKWEST ENERGY: Fitch Says Stake Acquisition Won't Affect Rating
MERIT GROUP: Will Seek Approval of Liquidating Plan Tomorrow
MIRAMAR REAL ESTATE: C. Agosto and FVP & Galindez OK'd as Auditors
MULHEARN REALTORS: Case Summary & 20 Largest Unsecured Creditors

NATIONAL ALARM: Case Summary & 4 Largest Unsecured Creditors
NBOR CORPORATION: Involuntary Chapter 11 Case Summary
NORTEL NETWORKS: Gets CCAA Extension Until April 13
NORTON PROPERTY: Case Summary & 4 Largest Unsecured Creditors
ODYSSEY DP: Case Summary & 4 Largest Unsecured Creditors

OXLEY DEVELOPMENT: U.S. Trustee Asks Court to Dismiss Case
OXLEY DEVELOPMENT: Court OKs William Orange III as Bankr. Counsel
PARADISE HOSPITALITY: Files Schedules of Assets and Liabilities
PENINSULA HOSPITAL: U.S. Trustee Wants Ch. 11 Trustee to Take Over
PLATINUM OIL: Court Won't Reconsider Ruling on Jicarilla Leases

PLATINUM PROPERTIES: Wants Plan Filing Period Extended to April 19
PMI GROUP: U.S. Trustee Unable to Form Committee
PMI GROUP: Auction Determines Credit-Default Swaps Payouts
PRM SMITH: Seeks to Hire Benjamin Currence as Litigation Counsel
PT ARPENI PRATAMA: Seeks Creditor Projection in the U.S.

PURE BEAUTY: Creditors Have Until Jan. 13 to File Proofs of Claim
QUALTEC INC: Court Approves Crowe Horwath as Accountants
QUALTEC INC: Can Hire FocalPoint Securities as Investment Banker
QUINCY MEDICAL: Ombudsman Wants PCO Responsibilities Discharged
RADIAN GROUP: Unit Releases Delinquency Data for November

RCR PLUMBING: Proposes Kurtzman Carson Consultants as Claims Agent
R.E. LOANS: Court Approves Akin Gump as Committee's Counsel
R.E. LOANS: Court OKs FTI as Committee's Financial Advisors
R.E. LOANS: Court Approves Alixpartners as Noticing Agent
REAL MEX: Court Approves Kelley Drye as Committee's Counsel

REAL MEX: Court Approves Cole Schotz as Committee's Co-Counsel
REPLICEL LIFE: Posts C$890,700 Net Loss in Third Quarter
RIVER ROAD: Lenders' Chapter 11 Plan Declared Effective
ROOMSTORE INC: Files Ch. 11 to Facilitate Reorganization Efforts
SEAHAWK DRILLING: Trustee to Compromise & Settle Adv. Proceeding

SIGNATURE STYLES: Will Seek Plan Confirmation at Dec. 21 Hearing
SINO FOREST: To Skip Interest Payment Due Thursday
SMITH CREEK: Sec. 341(a) Creditors' Meeting Set for Jan. 17
SOLYNDRA LLC: Wants Lease Decision Period Extended Until April 2
SOUTHERN MONTANA: Trustee Seeks to Hire H&B as Counsel

SOUTHERN MONTANA: Trustee Wants Waller & Womack as Local Counsel
SP NEWSPRINT: Section 341(a) Meeting Scheduled for Jan. 9
SPECTRAWATT INC: Unsecured Trade Creditors To Get 12% Recovery
T.J.E. LLC: Case Summary & 20 Largest Unsecured Creditors
TN-K ENERGY: Closes Sale Agreement with K&K for $910,000

VAN ZANT: Case Summary & 4 Largest Unsecured Creditors
ULTIMATE ESCAPES: Wins Confirmation of Liquidating Plan
WASHINGTON LOOP: Trustee Seeks to Retain JRS CPA as Accountants
WASHINGTON LOOP: Trustee Seeks to Hire Doughlas Wilson as Broker
WASHINGTON LOOP: Trustee Seeks to Retain Insider as Consultant

WINDOW FACTORY: Involuntary Chapter 11 Case Summary
WYSTERIA LLC: Section 341(a) Meeting Continued Until Jan. 3
XTL BIOPHARMACEUTICALS: Posts $337,000 Net Loss in Third Quarter
ZIONS BANCORP: Fitch Affirms Subordinated Debt Rating at 'BB+'

* U.S. Trustee Can't Conduct Nationwide Probe

* Recent Small-Dollar & Individual Chapter 11 Filings



                            *********

216 WEST 18: Court OKs Bryan Cave as Bankruptcy Counsel
-------------------------------------------------------
216 West 18 Owner LLC, 216 West 18 Mezz LLC and 216 West 18 Holder
LLC obtained the Bankruptcy Court's approval to employ Bryan Cave
LLP as their attorneys.

Bryan Cave received a retainer of $50,000 from the Debtors in
connection with the preparation and commencement of the Chapter 11
cases, all of which has been applied against Bryan Cave's charges
for prepetition services.

Currently, hourly rates of partners for Bryan Cave range from $375
to $875.  Hourly rates for associates and counsel range from $200
to $725.  The hourly rates charged for Bryan Cave legal assistants
range from $75 to $305.

                         About 216 West 18

216 West 18 Owner LLC, 216 West 18 Mezz LLC and 216 West 18 Holder
LLC own a parcel of improved real estate at 218 West 18th Street
in New York.  216 West 18 Owner is wholly owned by 216 West 18
Mezz.  Mezz is wholly owned by 216 West 18 Holder LLC.  Holder is
owned 94.2% by HAJ 18 LLC and 5.8% by JK 18 LLC.  HAJ 18, wholly
owned by Harry Jeremias, is the managing member of Holder.  The
216 West 18 entities do not have any employees.

The 216 West 18 entities, through their restructuring officer,
Steven A. Carlson, filed for Chapter 11 bankruptcy (Bankr.
S.D.N.Y. Case Nos. 11-15110 to 11-15112) on Nov. 1, 2011.  In its
petition, 216 West 18 Owner estimated $50 million to $100 million
in both assets and debts.

The Debtors filed for bankruptcy to implement a prepackaged plan
of liquidation originally proposed by Atlas Capital Group LLC.
The Plan provides for the transfer of the Mortgaged Property to
their mortgage lender.

Atlas is represented by Greenberg Traurig LLP.  HAJ 18 LLC is
represented by Herrick Feinstein LLP.

The mortgage lender, 216 West 18 Lender, an affiliate of Fishman
Holdings North America, is represented by Alston & Bird LLP.


A & F SERVICE: Case Summary & 4 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: A & F Service Center, L.L.C.
        1805 Blanton Mill Road
        Griffin, GA 30224

Bankruptcy Case No.: 11-85402

Chapter 11 Petition Date: December 7, 2011

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

Judge: C. Ray Mullins

Debtor's Counsel: Cameron M. McCord, Esq.
                  JONES & WALDEN, LLC
                  21 Eighth Street, NE
                  Atlanta, GA 30309
                  Tel: (404) 564-9300
                  Fax: (404) 564-9301
                  E-mail: cmccord@joneswalden.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/ganb11-85402.pdf

The petition was signed by Frank B. Flanders, manager.

Affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Frank B. Flanders, Jr.                 11-10364   02/01/11


ACJ TRUE: Case Summary & 18 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: ACJ True Grit LLC
        71940 Baker Blvd.
        Baker, CA 92309

Bankruptcy Case No.: 11-47049

Chapter 11 Petition Date: December 8, 2011

Court: United States Bankruptcy Court
       Central District of California (Riverside)

Debtor's Counsel: Patrick J D'Arcy, Esq.
                  PATRICK J D'ARCY, A PROFESSIONAL LAW COR
                  1 Park Plaza Ste 380
                  Irvine, CA 92614-3524
                  Tel: (949) 988-7640
                  Fax: (949) 616-0616
                  E-mail: pat@patricklaw.net

Scheduled Assets: $2,965,000

Scheduled Debts: $1,705,762

A list of the Company's 18 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/cacb11-47049.pdf

The petition was signed by Joni Jacobson, managing member of LLC.




AHNO LLC: Court Confirms Exit Plan for Ambassador Hotel
-------------------------------------------------------
Bankruptcy Judge Jerry A. Brown confirmed the Amended Chapter 11
Plan of Reorganization dated April 12, 2011, filed by AHNO, LLC,
doing business as Ambassador Hotel.  Judge Brown also held that
all modifications to the April 12 Plan are immaterial.  A copy of
the Court's Dec. 12, 2011 Findings of Fact and Conclusions of Law
is available at http://is.gd/cyOJqKfrom Leagle.com.

Four creditors, asserting $24,487 in claims, commenced an
involuntary Chapter 11 bankruptcy petition (Bankr. E.D. La. Case
No. 10-10706) on March 9, 2010, against New Orleans-based AHNO
LLC.  The petitioning creditors are Mark Kelley, New Media
Solutions, Inc., Dessus Management, and Destination Management
Inc.  They are represented by William E. Steffes, Esq. --
bsteffes@steffeslaw.com -- at Steffes Vingiello & McKenzie LLC as
bankruptcy counsel.  The Debtor is represented by Jan Marie
Hayden, Esq. -- jhayden@hellerdraper.com -- at Heller Draper
Patrick & Horn LLC as counsel.  An order for relief was entered on
May 24, 2010.


ALANCO TECHNOLOGIES: Posts $305,600 Net Loss in Sept. 30 Quarter
----------------------------------------------------------------
Alanco Technologies, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $305,600 on $0 revenue for the three
months ended Sept. 30, 2011, compared with a net loss of
$1.3 million on $0 revenue for the three months ended Sept. 30,
2010.

The Company's balance sheet at Sept. 30, 2011, showed $6.1 million
in total assets, $464,000 in total current liabilities,
$1.2 million in Preferred Stock - Series B Convertible, and
stockholders' equity of $4.4 million.

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

                        http://is.gd/Ln7SHp

                    About Alanco Technologies

Headquartered in Scottsdale, Arizona, Alanco Technologies, Inc.
-- was, at June 30, 2011, effectively a holding company without
operating entities.  The Company believes that status to be
temporary and has stated its objective to complete an appropriate
merger (possibly a reverse merger) and again become an operating
publicly traded company.  The Company is currently in the process
of evaluating potential transactions.

In previous SEC filings, Alanco reported three business segments:
Data Storage, Wireless Asset Management and RFID Technology.

                          *     *     *

As was discussed in the Company's Form 10-K for the year ended
June 30, 2011. the Company is continuing its investigation of
various possible business combinations.  "However, there is no
assurance that we will be able to arrange or consummate a
successful business combination which would allow us to continue
as a going concern."



AMBASSADORS INT'L: Creditors Give Up on Whippoorwill Lawsuit
------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the former owner of Windstar Cruises won't be
emerging from Chapter 11.

According to the report, the case will be dismissed or converted
to a liquidation in Chapter 7 following a settlement with secured
creditor Whippoorwill Associates Inc.  Windstar's three luxury
sailing yachts were sold to Anschutz Corp. for $35 million in
cash.

Mr. Rochelle recounts that the official committee of unsecured
creditors had sued Whippoorwill, contending it controlled
Windstar, fabricated the basis for an otherwise unnecessary
Chapter 11 filing, and arranged the sale so the price would be
enough to cover the debt it was owed plus counsel fees, "but not a
dollar more."

The report relates that under the settlement, Whippoorwill
will provide $500,000 toward payment of professional fees.
Whippoorwill will release claims against the company and in return
will receive a release of claims and dismissal of the committee's
lawsuit.  The settlement will come up for approval on Jan. 4 in
U.S. Bankruptcy Court in Delaware.

The company, Mr. Rochelle relates, admitted there was insufficient
cash remaining to pay outstanding professionals' bills, let alone
fund continuation of the lawsuit against Whippoorwill.  The
settlement precludes Whippoorwill from objecting to the payment of
lawyers' and other professionals' fees.

According to Mr. Rochelle, the settlement resulted in part from
Whippoorwill's contention that lawyers already received more in
fees than was permitted in the loan documents carving out $2.4
million for professionals.  Whippoorwill took the position that
the professionals were liable to disgorge some of what they were
paid so the funds could be used to discharge debt owing to the
lender.

                About Ambassadors International

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

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

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

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

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


AS SEEN ON TV: Enters Into Contractor Agreement with Stratcon
-------------------------------------------------------------
As Seen On TV, Inc., through its wholly owned subsidiary, TV
Goods, Inc., entered into an independent contractor agreement with
Stratcon Partners, LLC, pursuant to which Stratcon has agreed to
provide the Company consulting and advisory services, including,
but not limited to business marketing, management, budgeting,
financial analysis, and investor and press relations.

Under the agreement, Stratcon is also required to establish and
maintain executive facilities and a business presence in New York
City for the Company.  The agreement is for an initial term of two
years and may be terminated by either party upon written notice.
In consideration of providing the services, Stratcon will receive
$12,500 per month.  In addition, the Company has agreed to issue
Stratcon an aggregate of 500,000 shares of restricted common
stock, those shares vesting over a period of two years from the
Effective Date in four equal traunches.  The closing price of the
Company's common stock as reported on the OTC Markets on the
Effective Date was $1.00.  The Company has agreed to provide
Stratcon rent reimbursement up to $2,500 per month for the New
York office.

                        About As Seen on TV

Clearwater, Fla.-based As Seen On TV, Inc., is a direct response
marketing company.  The Company identifies, develops, and markets
consumer products.  The Company's  strategy employs three primary
channels: Direct Response Television (Infomercials), Television
Shopping Networks and Retail Outlets.

The Company's balance sheet at Sept. 30, 2011, showed $3.5 million
in total assets, $13.9 million in total current liabilities, and
a stockholders' deficit of $10.4 million.

EisnerAmper LLP, in Edison, New Jersey, expressed substantial
doubt about H&H Imports' 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 of the Company's
recurring losses from operations and negative cash flows from
operations.


BANKS HOLDING: Court to Hear RBC Dismissal Motion on Dec. 21
------------------------------------------------------------
Royal Bank of Canada asks the U.S. Bankruptcy Court for the
Western District of North Carolina to convert Banks Holding
Company, L.P.'s Chapter 11 case to one under Chapter 7 of the
Bankruptcy Code or, alternatively, dismiss the case for cause,
pursuant to 11 U.S.C. Section 1112(b).

The Court will consider the motion at a hearing on Dec. 21, 2011,
at 9:30 a.m.

RBC is the holder of a debt instrument executed by the Debtor on
or about July 19, 2007, in the original principal amount of
$500,000.  The Note is secured by a Pledge and Security Agreement
for account number xxxx-xxxx-2634.

RBC tells the Court that pursuant to the Chapter 11 Operating
Order entered on March 21, 2011, the Debtor was to file its Plan
of Reorganization on or before July 16, 2011, but, to date, had
not filed its Plan.

Counsel for Royal Bank of Canada may be reached at:

         David M. Warren, Esq.
         POYNER SPRUILL LLP
         Post Office Box 1801
         Raleigh, NC 27602-1801
         Tel: (919) 783-6400

Burnsville, North Carolina-based Banks Holding Company, L.P.,
filed for Chapter 11 bankruptcy protection (Bankr. W.D. N.C. Case
No. 11-10258) on March 18, 2011.  The Debtor's principal is Randy
Banks.  In its schedules, the Debtor disclosed $28,047,029 in
total assets and $7,385,010 in liabilities.  Edward C. Hay, Jr.,
Esq., at Pitts, Hay & Hugenschmidt, P.A., serves as the Debtor's
bankruptcy counsel.


BERNARD L. MADOFF: HSBC Going Up on Appeal With JPMorgan
--------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that HSBC Holdings Plc can join JPMorgan Chase & Co. and
UBS AG in appeals of decisions dismissing most of the lawsuits
brought by the trustee liquidating Bernard L. Madoff Investment
Securities Inc., a judge ruled.

According to the report, U.S. District Judge Jed Rakoff insinuated
that he may not permit an appeal at this time of his dismissal of
the better part of the Madoff trustee's $1 billion suit against
Fred Wilpon and the owners of the New York Mets baseball club.

The report relates that in July, Rakoff dismissed most of the
Madoff trustee's $9 billion suit against London-based HSBC. In
November, U.S.  District Judge Colleen McMahon dismissed most of
the trustee's $19 billion suit against New York-based JPMorgan.
She also threw out most of the suit against UBS.

According to the report, the two judges dismissed the suits on the
same grounds.  The judges accepted the banks' arguments that the
claims underlying the trustee's suits could only be brought by
individual Madoff creditors, not by the trustee.

Mr. Rochelle notes that Irving Picard, the Madoff trustee,
couldn't appeal immediately because neither judge dismissed all of
the lawsuits.  To remedy the bar to appeal, McMahon previously
entered a separate final judgment in the JPMorgan case, allowing
Mr. Picard to appeal to a U.S. Court of Appeals.  At the request
of HSBC, Judge Rakoff did the same by entering a final judgment of
dismissal so Mr. Picard can appeal.  Although HSBC had won
dismissal, it wanted to have its case heard at the same time as
JPMorgan's in the appeals court.

It "makes sense" to have the appeals together because there is no
"immediately pending" trial on the remaining claims against HSBC,
Jude Rakoff said in handwritten comments in the order, according
to the report.

Judge Rakoff, the report relates, said the HSBC case lacked "other
factors that might lead the court to deny such relief" with regard
to Mr. Picard's suit against Mr. Wilpon and the Mets owners.  When
Rakoff knocked out about $700 million of the $1 billion in claims,
he scheduled a jury trial for the Wilpon case in March.  Judge
Rakoff said that he's still considering whether to allow an appeal
from his decision that Mr. Picard can only sue to recover
fictitious profits that customers took out within two years of the
Madoff firm's bankruptcy.  Mr. Picard wanted to go back six years
in disgorging bogus profits.

Mr. Picard argued in papers to Rakoff that he should allow an
immediate appeal because another district judge disagreed with
Rakoff's conclusion that suits can only look back two years.
Until there is a resolution of the question, hundreds of suits by
the trustee against customers are in limbo.

The HSBC suit in U.S. District Court is Picard v. HSBC Bank Plc,
11-763, U.S. District Court, Southern District of New York
(Manhattan).  The UBS suit in district court is Picard v. UBS AG,
11-04213, in the same court.  The JPMorgan lawsuit in district
court is Picard v. JPMorgan Chase & Co., 11-00913, in the same
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: Picard Sues Credit Suisse for $375MM
-------------------------------------------------------
Irving Picard, the bankruptcy trustee for Bernard L. Madoff's
estate, filed a lawsuit late Monday in U.S. Bankruptcy Court for
the Southern District of New York to recover $375 million from
Credit Suisse Group AG and affiliates.

Katy Stech, writing for Dow Jones' Daily Bankruptcy Review,
reports Mr. Picard is accusing the bank of harboring money that
belongs to the estate of Mr. Madoff's collapsed investment firm.
Most of that money flowed to the bank through Fairfield Sentry
Ltd., the biggest feeder of investor funds into Mr. Madoff's Ponzi
scheme, according to the lawsuit.  Other money went through
Kingate Global, the lawsuit said.

"While we are still reviewing the complaint, there is no
allegation that [Credit Suisse] did anything wrong," Credit Suisse
spokesman Steven Vames wrote in an e-mail, according to DBR.
"This is simply another of the numerous claims the trustee has
filed in an attempt to claw back further funds."

Fairfield and Kingate are in liquidation proceedings.

                      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.


BP CLOTHING: Files for Bankruptcy Protection
--------------------------------------------
BP Clothing LLC filed for bankruptcy protection after weak sales
forced it to abandon its licenses to sell Baby Phat and Fabulosity
clothing lines.

BP Clothing -- which sells women's apparel products in Walmart and
other retailers and through site http://www.babyphat.com/--
estimated assets and debts of up to $100 million in its Chapter 11
petition (Bankr. S.D.N.Y. Case No. 11-15696).

Kevin Weber, executive vice president and chief financial officer
for BP Clothing, says that in recent years, due to a downturn in
the economy and weakened consumer spending, the Debtor has been
forced to terminate certain of "Baby Phat" licenses.  The Debtor's
business now primarily consists of selling inventory directly to
Walmart under the Susie Rose trademark.

BP Clothing, which has 42 employees, had gross revenue of
$89 million in fiscal year ended 2010.  Gross profit was $24.9
million during the period.

Currently, the Debtor's main asset is its Susie Rose trademark.
The sale of Susie Rose apparel inventory to Walmart comprises the
bulk of the Debtor's ongoing business. In addition, the Debtor
also has granted a license to a third party, SME Consolidated, to
manufacture and sell bags under the Susie Rose trademark. The
Debtor receives royalties in the aggregate of 5% on net sales
under this license agreement.

The Debtor is highly leveraged, with a total of $93.94 million in
prepetition financial debt, as of Nov. 30, 2011.

The Debtor seeks to effectuate a proposed restructuring that will
substantially reduce debt and enhance the Debtor's liquidity, as
well as solidify the Debtor's long-term growth prospects and
operating potential. The Debtor intends to emerge from bankruptcy
quickly, and hopes to maintain a viable and competitive business
going forward.

The Debtor has negotiated a "plan support agreement" with lenders.
Under the agreement, the lenders will support the plan if certain
milestone deadlines are achieved.

Under the Plan, debt to senior lenders will be converted to stock
of the reorganized company.  Holders of general unsecured claims
and interest holders won't receive anything.


CAPARRA HILLS: Fitch Affirms 'BB' Issuer Default Rating
-------------------------------------------------------
Fitch Ratings has affirmed Caparra Hills, Inc.'s (Caparra Hills).
'BB' Issuer Default Rating (IDR), Fitch has also affirmed the
company's US$59.3 million secured bonds rating at 'BBB-'.  The
secured bonds are payable solely from payments made to The Puerto
Rico Industrial, Tourist, Educational, Medical and Environmental
Control Facilities Financing Authority (AFICA) by Caparra Hills.
AFICA serves solely as an issuing conduit for local qualified
borrowers for purpose of issuing bonds pursuant a trust agreement
between AFICA and a trustee.  The secured bonds are not guaranteed
by AFICA, do not constitute a charge against the general credit of
AFICA, and do not constitute an indebtedness of the Commonwealth
of Puerto Rico or any of its political subdivisions.
The Rating Outlook is Stable.

The ratings reflect the stable cash flow generated by the
company's lease portfolio, which passes the vast majority of its
operating expenses on to its tenants.  Caparra Hills' properties
have relatively low vacancy rates and solid collateral values
backing its secured debt.  The ratings are also supported by the
company's manageable debt maturity schedule, adequate cash
position of US$5.7 million and stable EBITDA margins of over 60%
during the last five years ended Sept. 30, 2011, which result in
adequate debt service coverage ratios.  Also factored in the
ratings is Caparra Hills' capacity to generate consistently
positive free cash flow (FCF) with an average FCF margins around
19% during the last four years ended September 2011.

The 'BBB-' rating for the secured bonds positively incorporates
the collateral support included in the transaction structure as
the payments of the bonds are secured by a first mortgage on the
company's real estate properties and an assignment of leases.  In
addition, the ratings consider as part of the transaction
structure the inclusion of a debt-service reserve fund permanently
covering an equivalent of 18-month debt service related to the
secured bonds, by the end of September 2011 the total amount in
the reserve fund was USD7 million.

The Stable Outlook reflects Caparra Hills' consistent and stable
operating performance and its track record of maintaining positive
free cash flow, stable leverage and solid liquidity during the
last several years.  Fitch would consider a negative rating action
if deterioration in the company's financial profile occurs,
leading to weaker credit metrics resulting from declining revenues
coupled with significant distributed dividends and increasing
vacancy rates that would move the company's capital structure away
from the levels Fitch understands to be compatible with the rating
category assigned.

Stable and Predictable Results:

The ratings incorporate Caparra Hills' stable revenues stream from
its lease portfolio and adequate credit profile of its main
tenants.  The lease revenues are predominately fixed in nature and
also provide for the pass-through of ongoing maintenance and
operating expenses for Caparra Hills' properties, which lowers
business risk.

The company's lease portfolio has an adequate maturity profile
with staggered expirations of 17.2% and 6.7% of its rental income
expiring in the next 12 and 24 months, respectively.  About 10.8%
of Caparra Hills' rental income contracts have expiration dates
over the next 24-48 months, while 66.4% of the portfolio expires
beyond 48 months.

Caparra Hills' revenues structure is mostly based on fixed rent,
which represent about of 60% total revenues, making the company's
revenues very predictable.  The other significant component in
Caparra Hills' revenue structure is tenant reimbursements, which
represent about of 25% of total revenues, covering costs
associated with property management and taxes.

Incorporated in the ratings is the company's tenant concentration
risk. Caparra Hills' five most important anchor tenants are
University of Phoenix, Banco Santander, General Electric Consumer
Fin., United Surety & Indemnity Co, and Kimberly Clark Corp.
These tenants generate annual revenues of about US$6.2 million and
represent approximately 60% of the company's total annual rent
revenues.  Due to challenging operating environment during the
last three years, Caparra Hills' vacancy rates have deteriorated
as it increased from 4% to 8.6% during the last two years ended in
September 2011.

Solid Liquidity Expected to Continue:

Caparra Hills' liquidity position is solid resulting from its
capacity to consistently generate positive cash flow from
operations (CFFO) and its good credit access.  During the last
three years, Caparra Hills' CFFO reached an annual average of
US$3.6 million.  By the end of September 2011, Caparra Hills' cash
position was US$5.7 million. In addition, the company maintains a
debt service reserve fund of approximately US$7 million covering
18 months of debt service. Excluding the reserve fund, the
company's maintains liquidity that represents approximately 51% of
Caparra Hills' LTM revenue (US$11.3 million) and 4.5 times (x) the
company's short-term debt (US$1.3 million) by the end of September
2011.  In addition, Caparra Hills maintains US$1 million available
in unused committed bank credit facility.  The ratings incorporate
the view that Caparra Hills will maintain a solid liquidity, with
a cash position above 30% the company's revenue and more than 2x
its short-term debt on a consistent basis.

A Positive Free Cash Flow Business:

The ratings factor in a continued trend in the company's free cash
flow, which has been positive during the last five years.  For the
LTM period ended September 2011, FYE June 2010, and FYE June 2009,
Caparra Hills' free cash flow was positive reaching levels of
US$2.3 million; US$2.2 million; and, US$ 2.0 million,
respectively.

Caparra Hills' free cash flow is expected to continue to be
positive during the next following years due to the company's
stable cash flow from operations, low level of capital
expenditures (approximately US$0.3 million per year), and level of
dividends of approximately in the US$0.8 million to US$1.5 million
range that Caparra Hills is planning to distribute per year.
Factored into the ratings is the view that Caparra Hills does not
plan to execute any major investments that could place additional
pressure in its cash flow.

Adequate Leverage, Manageable Debt Schedule A Positive:
By the end of September 2011, Caparra Hills' total debt was
US$59.3 million.  This compares to US$50.7 million by the end of
June 2010.  The increase in the company's total debt reflects the
proceeds the company took to implement the reserve fund of US$7
million during the debt refinancing completed early this year.  By
the end of September 2011, Caparra Hills' debt was composed
entirely by US$59.3 million secured bonds.  The company does not
maintain any off-balance debt associated with operating leases
obligations.

Caparra Hills' EBITDA margin was 63% by the end of September 2011,
which has been in line with the company's average EBITDA margin
for the last three years (2010-2008) of 62%.  Caparra Hills' net
leverage, as measured by net debt/EBITDA, was 7.6x by the end of
September 2011, higher than the levels of 5.8x at the end of June
2010. Considering the reserve fund, the company's adjusted
leverage is estimated at 6.6x.

The ratings incorporate the expectation that Caparra Hills' net
leverage will remain stable.  Positively factored into the ratings
is Caparra Hills' manageable debt maturity schedule.  The company
faces debt principal payments of US$1.3 million, US$1.3 million,
and US$1.4 million during FY2012, FY2013, and FY2014,
respectively.

Main Credit Concerns:

The ratings are constrained by the negative business environment
and the concentration risk affecting Caparra Hills' operations.
The ratings incorporate the negative business environment
affecting the economy of Puerto Rico, which has been in recession
since the fourth quarter of FY 2006.  Additionally, the ratings
factor the concentration risk in Caparra Hills' operations related
to three contiguous properties, which limits the company's
diversification and growth strategies.  Further, Caparra Hills'
operations are highly dependent from its main tenants, with five
tenants representing approximately 60% of the company's total
revenues.  The concentration risk is counter balanced by the
adequate credit profile of Caparra Hills' main tenants and the
company's good track-record of maintaining positive FCF and solid
liquidity.

Negatively incorporated in the ratings is Caparra Hills' high
dividend payout ratio.  During the last five years, ended in
fiscal 2011, Caparra Hills has distributed more than US$4.6
million in dividends, and the company expects to maintain a
dividend payout ratio of approximately 60% to 80% over its excess
of cash flow for the next years.

Caparra Hills conducts its operations in Puerto Rico, which Fitch
views as a positive in terms of enforceability of the company's
secured debt in the event of default.  The relationship between
the United States and Puerto Rico is referred to as commonwealth
status.  Puerto Rico's constitutional status is that of a
territory of the United States, and, pursuant to the territorial
clause of the U.S. Constitution, the ultimate source of power over
Puerto Rico is the U.S. Congress.


CB HOLDING: Charlie Brown's Seeks Fourth Exclusivity Extension
--------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that although the former operator of Charlie Brown's
Steakhouse restaurants said the end of the case "is near," the
company is seeking a fourth extension of the exclusive right to
propose a liquidating Chapter 11 plan.  If approved by the
bankruptcy judge in Delaware at a Dec. 21 hearing, the new
exclusivity deadline will be pushed out by three months to Feb. 8.

The report relates that the liquidating Chapter 11 plan was filed
in August.  The hearing for approval of the explanatory disclosure
statement is now on the calendar for Dec. 21, after several
postponements.  The company completed sales of the three branches
of the business between April and July.  The plan is designed to
distribute proceeds according to the priorities in bankruptcy law.

                         About CB Holding

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

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

After filing for Chapter 11, CB Holding sold 20 Charlie Brown's
locations for $9.5 million.  The 12 remaining Bugaboo Creek stores
realized $10.05 million while the seven The Office Restaurants
produced $4.675 million.

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

Jeffrey N. Pomerantz, Esq., at Pachulski Stang Ziehl & Jones LLP,
in Los Angeles; and Bradford J. Sandler, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, represent the
Official Committee of Unsecured Creditors.

CB Holding estimated its assets at $100 million to $500 million
and debts at $50 million to $100 million.  At the outset of the
Chapter 11 case, the lenders were owed $70.2 million.


CLARE AT WATER: Agrees that Escrow Agent Pay Authority Claims
-------------------------------------------------------------
The Clare at Water Tower asks the U.S. Bankruptcy Court for the
Northern District of Illinois to approve a stipulation providing
that a certain indemnity escrow fund is not property of the
Debtor's bankruptcy estate.

The stipulation was entered among Illinois Finance Authority and
The Bank of New York Mellon Trust Company, N.A., as escrow agent.

The Debtor relates that on July 15, 2010, in connection with the
issuance of certain tax-exempt bonds, the Authority, the Debtor,
and the escrow agent entered into the Indemnification Escrow
Agreement.  The parties' execution of the Indemnification Escrow
Agreement was a condition precedent to the Authority's issuance of
the "Series 2010 Bonds" and provided for the establishment of a
$750,000 "Indemnity Escrow Fund" as security for the
indemnification obligations of the Debtor to the Authority under a
Loan Agreement dated as of July 1, 2010 related to the Series 2010
Bonds.

The Indemnity Escrow Fund/Account, which is under the sole control
and dominion of the escrow agent, is available for payment of
claims asserted by the Authority and certain "Authority
Indemnified Parties" for indemnification and reimbursement of
reasonable costs and expenses, including reasonable counsel fees.

To date, the Authority has submitted to the escrow agent several
claims for reimbursement of attorneys' fees from the Indemnity
Escrow Fund in accordance with the terms of the Indemnification
Escrow Agreement.  The Authority, the Debtor and the escrow agent
agree that the Indemnity Escrow Fund is a true escrow and
therefore not property of the Debtor's bankruptcy estate even
though the Debtor has a contingent interest in the funds.

Out of an abundance of caution, however, and to ensure that any
interested party has an opportunity to assess the nature of the
escrow, the escrow agent has requested that the Authority file the
motion for entry of the Agreed Order prior to payment of the
Authority's indemnification claims.

The Authority is represented by:

         Steven B. Towbin, Esq.
         Gordon E. Gouveia, Esq.
         SHAW GUSSIS FISHMAN GLANTZ WOLFSON & TOWBIN LLC
         321 North Clark Street, Suite 800
         Chicago, IL 60654
         Tel: (312) 541-0151
         Fax: (312) 980-3888
         E-mail: stowbin@shawgussis.com
                 ggouveia@shawgussis.com

                  About The Clare at Water Tower

The Clare at Water Tower is an upscale 334-unit high-rise
continuing-care retirement community in Chicago, Illinois.  The
project is only 42% occupied because the target population either
hasn't been able to sell homes or lacks sufficient cash to make
required deposits as the result declining investments following
the recession.  The facility is a 53-story building on land rented
from Loyola University of Chicago.  The facility is managed and
developed by a unit of the Franciscan Sisters of Chicago, who
invested more than $14 million.  The project opened in December
2008.  Residents must make partially refundable deposits ranging
from $263,000 to $1.2 million.  Monthly fees are an additional
$2,700 to $5,500.

The Clare filed for Chapter 11 protection (Bankr. N.D. Ill. Case
No. 11-46151) on Nov. 14, 2011, after defaulting on $229 million
in tax-exempt bond financing used to build the project.

Judge Susan Pierson Sonderby presides over the case.  Matthew M.
Murphy, Esq., at DLA Piper LLP, serves as the Debtor's counsel.
Epiq Bankruptcy Solutions serves as claims and noticing agent.  In
its petition, the Debtor estimated $100 million to $500 million in
assets and debts.  The petition was signed by Judy Amiano,
president.

Counsel to Redwood Capital Investments LLC as DIP Lender are Mark
A. Berkoff, Esq., and Nicholas M. Miller, Esq., at Neal Gerber &
Eisenberg LLP.  Bond Trustee, The Bank of New York Mellon Trust
Company, is represented by Clifton R. Jessup, Jr., Esq., at
Greenberg Traurig.  Counsel to Bank of America, N.A., the Debtor's
prepetition lender, is Brian I. Swett, Esq., at Winston & Strawn
LLP.  Counsel for the majority fixed rate bonds is Nathan F. Coco,
Esq., at McDermott Will & Emery LLP.  Loyola, the Debtor's
landlord, is represented by Timothy R. Casey, Esq., at Drinker
Biddle & Reath LLP.

The United States Trustee in Chicago appointed seven members to
the official committee of unsecured creditors.


CLEAR CHANNEL: Board OKs Indemnification Pacts with Executives
--------------------------------------------------------------
The Board of Directors of Clear Channel Outdoor Holdings, Inc.,
an indirect subsidiary of Clear Channel Communications, Inc.,
approved the Company entering into Indemnification Agreements with
Thomas W. Casey, the Company's Executive Vice President and Chief
Financial Officer and a member of the Company's Office of the
Chief Executive Officer, and Robert H. Walls, Jr., the Company's
Executive Vice President, General Counsel and Secretary and a
member of the Company's Office of the Chief Executive Officer.
Messrs. Casey and Walls also serve as Executive Vice President and
Chief Financial Officer and Executive Vice President, General
Counsel and Secretary, respectively, of the Company's indirect
parent entities, CC Media Holdings, Inc., and Clear Channel
Communications, Inc.  The Indemnification Agreements provide
substantially the same benefits as provided to the Company's
affiliate directors under the previously disclosed Affiliate
Director Indemnification Agreements.

The Indemnification Agreements provide that the Company will
indemnify and hold harmless each person subject to an
Indemnification Agreement to the fullest extent permitted by
applicable law from and against all losses, costs, liabilities,
judgments, penalties, fines, expenses and other matters that may
result or arise in connection with such Indemnified Party serving
in his or her capacity as an officer of the Company or serving at
the request of the Company as a director, officer, employee,
fiduciary or agent of another entity.  The Indemnification
Agreements further provide that, upon an Indemnified Party's
request, the Company will advance expenses to the Indemnified
Party to the fullest extent permitted by applicable law.  Pursuant
to the Indemnification Agreements, an Indemnified Party is
presumed to be entitled to indemnification and the Company has the
burden of proving otherwise.

The Indemnification Agreements also require the Company to
maintain in full force and effect liability insurance on the terms
described in the respective Indemnification Agreements.  If
indemnification under the Indemnification Agreements is
unavailable to an Indemnified Party for any reason, the Company,
in lieu of indemnifying the Indemnified Party, will contribute to
any amounts incurred by the Indemnified Party in connection with
any claim relating to an indemnifiable event in such proportion as
is deemed fair and reasonable in light of all of the circumstances
to reflect the relative benefits received or relative fault of the
parties in connection with such event.

                  About CC Media and Clear Channel

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

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

The Company reported a net loss of $462.8 million on
$5.866 billion of revenue for the fiscal year ended Dec. 31, 2010,
compared with a net loss of $4.049 billion on $5.552 billion of
revenue for the fiscal year ended Dec. 31, 2009.

The Company also reported a net loss of $259.06 million on
$4.50 billion of revenue for the nine months ended Sept. 30, 2011,
compared with a net loss of $416.42 million on $4.23 billion of
revenue for the same period during the prior year.

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

                          *     *     *

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

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

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

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


CONTINENTAL COMMON: Reorganization Plan Declared Effective
----------------------------------------------------------
Continental Common, Inc., notified the U.S. Bankruptcy Court for
the Northern District of Texas that the Effective Date of its
Second Amended Joint Plan of Reorganization occurred on Dec. 1,
2011.

On Oct. 6, 2011, the Court entered an order confirming the Plan
filed by the Debtor, and PNC Bank, N.A., dated Oct. 4, 2011.

As reported in the Troubled Company Reporter on Oct. 24, 2011,
under the Joint Plan, the Reorganized Debtor will seek to market
and sell each of the Properties under the direction of a third
party real estate broker, provided that the remaining unpaid
portion of any allowed secured claim for which the property being
sold serves as Collateral will be paid in full at the time and all
obligations under this Plan are satisfied in full.  The proceeds
will first be used to pay in full any allowed secured claim for
which the property serves as collateral, including the allowed
secured claims of PNC and any Taxing Authority holding a Lien in
the Property.  Upon the full satisfaction of any allowed secured
claims holding a Lien in the property, any remaining proceeds will
be distributed equally among Classes 1 through 9, subject to the
subordination of the Claims of Transcontinental Realty Investors,
Inc. (TCI), and Continental Common Lease Inc. to those of PNC.

The Reorganized Debtor will use Net Cash Flow, funds received from
TCI, funds on deposit in the Debtor's various debtor-in-possession
bank accounts, collections of accounts receivable owed as of the
Confirmation Date, funding from TCI, its designee, or any other
entity, proceeds from sales or refinancing of the Properties, and
any additional monies obtained by the Debtor, to fund the
distributions required under the Plan to Classes 1, 2, 3, 5, 6, 7,
8, and 9.

Distributions to Class 4 Claimants will be funded by Gross
Revenue, funds received from TCI, funds on deposit in the Debtor's
various debtor-in-possession bank accounts, collections of
accounts receivable owed as of the Confirmation Date, funding from
TCI, its designee, or any other entity, insurance loss proceeds or
payments, any award or other payment made by any governmental unit
or authority in conjunction with the exercise or any right of
eminent domain or condemnation, any proceeds from any sale,
refinancing, exchange, or other disposition of the Properties, any
payments made on account of any easements or access rights granted
by the Debtor which are not material to the operation of the
Property, and any additional monies obtained by the Debtor.

A full-text copy of the Second Amended Joint Plan Of
Reorganization, dated Oct. 4, 2011, is available for free at:

  http://bankrupt.com/misc/CONTINENTALCOMMON_2ndamendedplan.pdf

                     About Continental Common

Dallas, Texas-based Continental Common, Inc., has primary assets
consisting of various real estate holdings in multiple states.
The Company filed for Chapter 11 bankruptcy protection (Bankr.
N.D. Tex. Case No. 10-37542) on Oct. 28, 2010.  Melissa S.
Hayward, Esq., at Franklin Skierski Lovall Hayward LLP, represents
the Debtor.  The Company disclosed $29,250,424 in assets and
$25,150,836 in liabilities.  The U.S. Trustee has not appointed
creditors' committee or examiner in the case.


CORDIA COMMUNICATIONS: U.S. Trustee Wants Examiner Appointed
------------------------------------------------------------
Donald F. Walton, U.S. Trustee for Region 21, asks the U.S.
Bankruptcy Court for the Middle District of Florida to appoint an
examiner in the Chapter 11 case of Cordia Communications Corp., et
al.

According to the U.S. Trustee, the Debtors have elected not to
pursue estate assets potentially totaling in excess of
$38,000,000.  These assets consist of debts owed to the Debtors by
related entities, potential fraudulent transfers from the Debtors
to related entities and potential preference payments from the
Debtors to related entities.  Unless the estate pursues these
assets, unsecured creditors will receive little or no
distribution.

The U.S. Trustee explains that the appointment of an examiner is
necessary to determine whether these assets can be collected for
the benefit of unsecured creditors.  U.S. Trustee asserts that its
intervention is necessary because Debtors' unsecured creditors are
mostly taxing authorities, which serve the public interest and are
ineligible to sit on a creditors' committee.

The U.S. Trustee notes that the grand total of debts owed by non-
debtor insiders to the Debtors and transfers from the Debtors to
non-debtor insiders within 90 days is approximately $38,534,067.

This amount exceeds the amount of assets available to creditors
through the liquidation of Debtors' assets.  The Debtors will sell
or have sold substantially all of their assets to Birch
Communications, Inc. pursuant to the Court's orders dated July 14,
2011 and Oct. 11, 2011.  The UST estimates that, after executory
contracts with Verizon and others are cured, the net proceeds of
the sales will at best be approximately $3.5 million to
$4.5 million.

Finally, the U.S. Trustee states that the appointment of an
examiner would be of assistance to the Court in the Thermo Credit
litigation, which seeks substantive consolidation of the Debtors
and non-debtor insiders.

                   About Cordia Communications

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

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

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


DEAN FOODS: Fitch Affirms Junk Rating on Senior Unsecured Debt
--------------------------------------------------------------
Fitch Ratings has affirmed the ratings of Dean Foods Company
(Dean; NYSE: DF) and Dean Holding Company. The ratings are as
follows:

Dean Foods Company (Parent)

  -- Issuer Default Rating (IDR) at 'B';
  -- Bank credit facility at 'BB-/RR2';
  -- Senior unsecured debt at 'CCC/RR6'.

Dean Holding Company (Operating Subsidiary)

  -- IDR at 'B';
  -- Senior unsecured debt at 'CCC/RR6'.

The Rating Outlook is Stable. At Sept. 30, 2011, Dean had
approximately $3.9 billion of total debt.

Dean's ratings reflect the firm's high financial leverage, the
commodity nature of the dairy industry, and the stabilizing but
lowered profitability in a challenging fluid milk operating
environment.  These negatives are partially mitigated by Dean's
leading market share, national distribution capabilities, and the
strong growth profile of the firm's WhiteWave-Alpro (WhiteWave)
business.  WhiteWave, which represented 16% and 25% of sales and
operating income excluding corporate expenses and restructuring
charges, respectively, in 2010, includes the Horizon Organic,
Silk, Alpro, and International Delight brands.  Fresh Dairy
Direct-Morningstar (FDD-Morningstar), which includes fluid milk,
ice cream and other cultured dairy products, represented the
remaining 84% and 75%, respectively.

Cash flow from operations (CFO), which has averaged $564 million
annually since 2007, enables Dean to adequately satisfy working
capital needs, capital expenditure requirements, and near-term
debt obligations.  However, lower profitability in FDD-Morningstar
has adversely affected this cash flow. Retailer discounting of
private-label milk and high raw milk prices has resulted in
significant operating income and cash flow declines since 2009.
The discounting, which was enabled by wholesale price concessions,
caused branded to private-label price gaps to increase and also
negatively affected profitability.  Fitch expects Dean to generate
materially lower CFO in 2011 at approximately $400 million but
believes CFO can increase to about $450 million for 2012 as
retailer pricing has become more rational, branded to private-
label price gaps have narrowed, and working capital should benefit
from near-term declines in raw milk costs.

Operating profit for FDD-Morningstar is down 17% to $322 million
for the nine months ended Sept. 30, 2011, after declining 33% to
$504 million in 2010.  Segment operating margin was 3.9% for the
most recent nine-month period versus 5.2% in the comparable period
last year. During the quarter ended Sept. 30, 2011, Dean booked a
preliminary $1.6 billion after-tax non-cash impairment charge
against goodwill associated with FDD-Morningstar.  The accounting
adjustment did not negatively affect room under Dean's financial
maintenance covenants discussed below.  Fitch views the write-down
as confirmation of the permanent step-down in FDD-Morningstar's
profitability which had already been factored into ratings.

In contrast to FDD-Morningstar, growth prospects for WhiteWave
remain favorable due to growing consumer demand for organic and
plant-based alternatives to traditional dairy products and Dean's
focus on cost management.  For the nine-month period ended Sept.
30, 2011, operating income in this segment grew 20% to $142
million, after increasing 27.6% in 2010 to $166 million.  Segment
operating margin was 9.1% for the most recent nine-month period
versus 8.4% in the comparable period last year.

Fitch believes that the worst is behind for Dean's fresh dairy
business due to more rational retail pricing and, as mentioned
previously, moderate near-term declines in raw milk costs.  Dean
is also on track to complete its $300 million multi-year cost
reduction program in Fresh Dairy Direct by Dec. 31, 2011 and
remains focused on driving costs out of its operations.
Nonetheless, Fitch recognizes that continued volume declines could
put downward pressure on wholesale milk prices and cause
additional margin compression for FDD-Morningstar.

Negative rating actions would occur if declines in operating
income and cash flow reaccelerate on a sequential quarterly basis
or total debt-to-operating income increases towards 6.0 time (x).
A Positive Outlook and subsequent upgrade to Dean's ratings would
be warranted if operating performance exceeds Fitch's
expectations, as discussed below.  Total debt-to-operating income
below 5.0x and improved operating fundamentals for the FDD-
Morningstar business would trigger such actions.

Dean's credit statistics are appropriate for its ratings.  For the
latest 12-month (LTM) period ended Sept. 30, 2011, total debt-to-
operating EBITDA was 5.3x, funds from operations (FFO) adjusted
leverage was 5.9x, and operating EBITDA-to-gross interest expense
was 2.8x.  Fitch is conservatively forecasting total debt-to-
operating EBITDA near the current LTM ratio for 2011 and 5.0x in
2012 as Dean uses FCF for debt reduction.  Fitch's projections
assume relatively flat operating income in 2012, due to
potentially competitive wholesale pricing in fluid milk, and
moderate debt reduction.

Dean generated $55.9 million of FCF during the LTM period.  CFO
and FCF for 2011 have been negatively affected by the impact of
increased commodity costs on working capital requirements and $30
million of cash payments associated with legal settlements.  Fitch
expects Dean to generate at least $100 million of FCF in 2012 as
CFO benefits from lower working capital requirements and capital
expenditures remain elevated due to capacity constraints at
WhiteWave.

Fitch views Dean's liquidity as adequate.  At Sept. 30, 2011, Dean
had $1.6 billion of liquidity which included $107.7 million of
cash, $1.3 billion of revolver availability and $215 million of
borrowing capacity under its receivables-backed facility.  The
company's $1.5 billion revolver has two tranches of which $225
million expires on April 2, 2012 and $1.3 billion is due on April
2, 2014.  Fitch does not expect Dean to renew its 2012 tranche as
the larger 2014 tranche along with the firm's $600 million
receivables-backed facility provide more than enough liquidity.
The on-balance sheet receivables-backed facility matures on Sept.
25, 2013.

Scheduled maturities of long-term debt at Sept. 30, 2011 included
$194.7 million, $616.7 million, and $992.1 million, respectively,
in 2012, 2013, and 2014.  These obligations consist mainly of
term-loan amortization and outstanding balances on the company's
receivables-back facility which becomes due in 2013 as mentioned
previously.  Fitch expects Dean to satisfy 2012 maturities with
internally generated cash flow and, if necessary, modest
borrowings under its revolver.  Dean is likely to extend
maturities by refinancing its credit facilities in 2013.

Dean's financial maintenance covenants include maximum total and
senior secured leverage ratios. Leverage per terms of the credit
agreement is generally lower than that used by Fitch, as the
covenant excludes up to $100 million of unrestricted cash and
adjusts for charges and other non-recurring items.  Dean's total
leverage covenant is currently 5.75x but steps down to 5.5x on
March 31, 2012, 5.25x on March 31, 2013, and 4.5x on Sept. 30,
2013.  The senior secured leverage restriction of 4.25x steps down
to 3.75x on March 31, 2012, and to 3.5x on March 31, 2013.  Dean
is also bound by a minimum interest coverage requirement of 2.5x.
The ratio steps up to 2.75x on March 31, 2012 and 3.0x on March
31, 2013.

EBITDA headroom under Dean's financial maintenance covenants has
improved through 2011 due mainly to debt reduction, and remains
adequate.  At Dec. 30, 2010, Dean had less than 10% headroom under
its leverage covenants. However, at Sept. 30, 2011, Dean had
approximately 15% cushion under its total leverage covenant, 16%
under its senior secured leverage requirement, and 21% under its
interest coverage requirement.  Fitch recognizes that Dean's
covenants become more restrictive in 2012 but expects the firm's
cushion to remain adequate as operating income stabilizes and FCF
is used for debt reduction.

While an event of default is not anticipated, the 'RR2' rating on
Dean's secured debt reflects Fitch's view that recovery prospects
for these obligations would be superior or range from 71%-90% in a
distressed situation.  The firm's credit facilities are secured by
a perfected security interest in all of the assets of Dean and its
subsidiary guarantors.  With over 70% of Dean's $3.9 billion of
total debt being secured, Fitch believes little value would remain
for unsecured bondholders if Dean were to restructure its capital
structure under a bankruptcy filing.  As such this debt is
assigned a Recovery Rating of 'RR6' indicating 10% or less
recovery in a distressed situation.

Fitch's analysis assumes all unsecured debt would have an equal
claim on any residual value as notes of parent and holding company
are equally ranked per terms of indentures.  However, Dean Holding
Co.'s (Operating Co.) $128.7 million 6.9% notes due Oct. 15, 2017
do not benefit from the same parental or subsidiary guarantees as
notes issued by Dean Food Co. (Parent).  Dean Food Co.'s $498.9
million 7% senior unsecured notes due June 1, 2016 and $400
million of 9.75% senior unsecured notes due Dec. 15, 2018 are
guaranteed by substantially all of Dean's wholly-owned
subsidiaries other than those for its receivables securitization
program.


DESERT GARDENS: 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
Desert Gardens IV LLC because an insufficient number of persons
holding unsecured claims against the Debtor have expressed
interest in serving on a committee.  The U.S. Trustee reserves the
right to appoint such a committee should interest developed among
the creditors.

                      About Desert Gardens IV

Desert Gardens IV LLC, owner of a 532-unit Desert Gardens
apartments in Glendale, Arizona, filed for Chapter 11 protection
to halt foreclosure that was set for Nov. 14.  The project has two
31-story towers, one built in 1983 and the other in 2003.  U.S.
Bank, the secured lender, is owed $26.3 million.  The property is
estimated to be worth $16 million.

Desert Gardens IV filed a Chapter 11 petition (Bankr. D. Ariz.
Case No. 11-31061) on Nov. 4, 2011, in Phoenix.  Jennings, Strouss
& Salmon, P.L.C., serves as the Debtor's counsel.  Sierra
Consulting Group, LLC, is the financial advisor.  The Debtor
disclosed $16,138,707 in assets and $27,141,725 in liabilities in
its schedules.


DESMARAIS ENERGY: Creditors OK Proposed Debt Restructuring
----------------------------------------------------------
Desmarais Energy Corporation said Dec. 12 that the unsecured
creditors of Desmarais have overwhelming approved Desmarais'
previously announced proposal under the Bankruptcy and Insolvency
Act (Canada) to restructure its debts, which approval was secured
at a meeting of unsecured creditors held on Dec. 8, 2011. In
addition, the Court of Queen's Bench of the Province of Alberta
has approved the Proposal on Dec. 9, 2011.

Pursuant to the Proposal, approximately $2,072,920 of unsecured
debt of Desmarais (the "Settled Debt") will be satisfied by way of
issuance of common shares of the Corporation at a deemed issue
price of $0.08 per share.  Approximately $407,000 of the Settled
Debt represents claims that were assigned to arm's length third
parties under the Proposal for total cash proceeds of $40,000 and
then satisfied under the Proposal by way of issuance of Common
Shares to such arm's length third parties.  A total of
approximately 25,911,500 Common Shares are expected to be issued
by Desmarais under the Proposal in satisfaction of the Settled
Debt.

The Settled Debt includes the settlement of the amount of
approximately $616,000 owing to the Corporation's secured
creditor, 323 Holdings Ltd., being a corporation controlled by
Mr. Doug Robinson, a director of the Corporation.  This settlement
reduces the aggregate secured debt owing by Desmarais to 323 to
approximately $2,000,000.

All payments of consideration under the Proposal, including the
issuance of Common Shares, are subject to the withholding, and
payment by Desmarais, of a 5% statutory levy payable to the Office
of the Superintendent of Bankruptcy.

Pursuant to the Proposal, creditors of Desmarais who have had some
or all of their claims against Desmarais disallowed, in whole or
in part, have a period of 15 days from December 9, 2011 during
which they may dispute any such disallowance.  If, after resolving
any such disputed claims, the Corporation is indebted to the
holders of such claims, the Corporation expects to issue
additional Common Shares under the Proposal at a deemed issue
price of $0.08 per share, to settle such claims.  Accordingly, the
Corporation expects to issue all Common Shares under the Proposal,
including the Common Shares issuable in satisfaction of the
Settled Debt, subsequent to the expiry of such 15 day period,
expected to be on or about the first week of January 2012.

As previously announced, Mr. Long has agreed to resign as
President and Chief Executive Officer of the Corporation effective
Dec. 31, 2011. All amounts currently owing by the Corporation to
Mr. Long in respect of his employment with Desmarais, in the
amount of $100,000, have been settled in the Proposal.  Mr. Long
is expected to continue to serve as a director of the Corporation
subsequent to his resignation as an officer. Mr. Doug Robinson,
the current Chairman of the Corporation, will assume the position
of President and Chief Executive Officer on an interim basis at
such time.

As reported in the Troubled Company Reporter on Sept. 28, 2011,
Desmarais Energy Corporation said that it has filed with the
Office of the Superintendent of Bankruptcy a Notice of Intention
to File a Proposal under the Bankruptcy and Insolvency Act
(Canada).  As a consequence of such filing, any and all recourses
of creditors are stayed for an initial period of 30 days.

Desmarais said it had taken this action in light of recent
enforcement actions taken by its largest unsecured creditor,
whereby that creditor has seized Desmarais' cash balances, leaving
Desmarais unable to meet its day to day obligations as they come
due.  Although this enforcement action and the underlying claim of
the unsecured creditor are disputed by Desmarais, the Company has
taken this action under the BIA as the most expeditious and
economical manner of addressing the interests of its creditors and
allowing it to carry on its operations.

The trustee named in the notice of intention is Hardie & Kelly
Inc., of Calgary, Alberta.

                        About Desmarais Energy

Based in Calgary, Canada, Desmarais Energy Corporation is a junior
oil and gas exploration and production company, engages in the
exploration, development, production, and acquisition of oil and
gas reserves in western Canada.


DETROIT, MI: To Sell $493M Municipal Bond as State Takeover Looms
-----------------------------------------------------------------
Dow Jones' Daily Bankruptcy Review reports that Detroit is likely
to have to pay dearly this week to sell $493 million of water and
sewer debt in the municipal bond market, just as Governor Rick
Snyder is deciding whether to appoint an independent receiver to
take over the city's finances.

As reported in yesterday's edition of the TCR, the state of
Michigan on Dec. 6 commenced 30-day preliminary financial review,
which may lead to a takeover of Detroit.  Detroit's mayor, Dave
Bing, says the city will run out of cash in April 2012.

Legislation known as Public Act 4 (PA4) allows the state to
appoint an emergency manager for failing local governments and
school districts.   When an emergency manager is appointed, the
authority of elected officials is suspended and the manager
assumes control of public contracts, city assets, staff, pay and
benefits.

On Dec. 1, Michigan governor Rick Snyder appointed an emergency
manager to the city of Flint.


DETROIT, MI: Fitch Puts 'BB-' ULTGO Bond Ratings on Watch Neg.
--------------------------------------------------------------
In the course of routine surveillance, Fitch Ratings places the
following ratings for Detroit, MI on Rating Watch Negative:

  -- Approximately $553 million unlimited tax general obligation
     (ULTGO) bonds rated 'BB-'
  -- Approximately $486 million limited tax general obligation
     (LTGO) bonds rated 'B+'
  -- Approximately $1.5 billion pension obligation certificates
     series 2005-A issued through the Detroit Retirement Systems
     Funding Trust (MI) and 2006 A and B rated 'BB-'.

As reflected in the 'BB-' ULTGO rating, Fitch believes Detroit's
financial and economic struggles will continue if not intensify.
The Mayor has stated his opposition to the installation of an
emergency manager pursuant to Act 4, but has also indicated he
believes this action may be necessary if labor unions are not
willing to make concessions.  State officials are reportedly
considering revisions to Act 4.

The Mayor has also raised the possibility or the city's filing
for bankruptcy under Chapter 9 of the Code.  Fitch views even
discussion of bankruptcy to be quite troubling.  Implementation
the an emergency manager is also problematic given the movement to
suspend and eventually repeal Act 4 and the likelihood that it
would trigger a swap termination payment now valued at slightly
over $400 million.

Agreements with counterparties regarding interest rate swaps on
the city's pension obligation certificates were modified to limit
the city's exposure to large near-term termination payments in
most scenarios.  However, there are limited events that would
trigger termination, including the imposition of an emergency
manager.  The Rating Watch Negative reflects this risk, and
Fitch's belief that the city would be unable to fund the
termination payment from current resources.

A sizable general fund operating deficit in fiscal 2009, added
to an already negative fund balance position, led to a large
accumulated unreserved general fund deficit of $330 million, or a
very high 23.6% of spending.  Fiscal 2010 would have ended with a
$71 million shortfall and an increased accumulated deficit were it
not for the issuance of $249 million in deficit bonds to be repaid
over 25 years.  The bonds were designed to eliminate the
accumulated deficit and the need for annual short-term cash flow
borrowing for the next several years.  However, operating results
were more negative than expected, due primarily to revenue
shortfalls.

The general fund accumulated deficit at fiscal 2010 year-end stood
at $91.1 million, with an unreserved balance of negative $155
million or 12.2% of spending.  City officials estimate that fiscal
2011 ended with another, although smaller, operating deficit of
$40 million-$45 million and an accumulated unreserved fund balance
deficit of about $200 million, as revenues are again expected to
fall somewhat short of budgeted expectations.  In recent fiscal
years, audited results have habitually been more negative than
projections indicated, so Fitch is concerned that results for
fiscal 2011 could be even weaker than expected.

The fiscal 2012 budget was balanced but included what Fitch
believed to be aggressive revenue assumptions, particularly
regarding income taxes.  Just four months into the fiscal year,
the city forecast a $44 million cash deficit for June 30, 2012, as
compared to an original forecast of a $55 million surplus.  This
indicates the current budget gap is about $100 million.  The cash
forecast assumes a number of risks, and does not take into account
the 1,000 layoffs for which the Mayor sent out notices earlier
this month.  However, even if the gap were completely filled,
which appears optimistic without further action, the ending
accumulated deficit would remain extremely high.

In addition to the 1,000 layoffs, the Mayor has asked workers to
accept concessions including 10% salary reductions and increased
contributions to health care and pension funds.  The Mayor is also
requesting that retirees accept a reduction in benefits. So far
only limited concessions have been achieved.  Fitch believes that
relying on these measures for meaningful budget savings is not
realistic at this time.

The city council has proposed its own plan, which calls for 2,300
layoffs, but the council does not have the authority to implement
it.  Fitch believes this is an example of the contentious working
relationship between the Mayor and city council, as were the
fiscal 2011 and 2012 budget cycles, in both of which the budget
was adopted through a city council override of the Mayor's veto.
Fitch views this disharmony especially negatively given the acute
need for constructive budgetary solutions.

The city has developed a five-year Deficit Elimination Plan (DEP)
which addresses projected increasing out-year budget gaps with a
combination of revenue initiatives, largely focused on improving
income tax collections, as well as spending reductions focused on
pension and medical costs.  Fitch believes that some of the
assumptions in the DEP are optimistic and alternatives appear
limited. The DEP does not take effect until approved by the state.

Economic indicators continue to be exceptionally weak, including
an unemployment rate of 20.6% in September 2011, down slightly
from 21.4% in September 2010.  The improvement in the unemployment
rate resulted from the 2.1% decline in the labor force, as
employment declined by 1.1% year-over-year.  However, the number
of jobs in the metro area grew by 1.5% through September 2011
compared to the same period in 2010.

2010 census data showed a surprisingly large drop in population
to 713,777, a 25% decline from the 2000 census.  The city
administration is focused on identifying blighted areas and
consolidating residents into more sustainable neighborhoods.
Prospects for economic growth appear minimal, although the
manufacturing sector is showing some job gains.

Debt levels are exceptionally high as compared to Detroit's weak
market value of property; overall debt is over 18% of market
value.  The debt burden is somewhat less dramatic relative to
population but still high at $6,397 per capita -- an increase from
prior figures due to the incorporation of the lower 2010 census
population.  Debt service comprised an elevated 17.5% of fiscal
2010 general and debt service fund spending.

Concerns about the high debt load, while significant, are somewhat
tempered by the sound funded ratios for both of the city's pension
programs as a result of issuance of the pension obligation
certificates (POCs).  However, funded ratios have eroded somewhat
in recent years, leading to increasing pension payments as well as
a heavy debt service load on the POCs.

The unfunded liability for other post-employment benefits (OPEB)
when last calculated (June 30, 2009) was about the same size as
overall debt.  The city funds its OPEB obligation on a pay-as-you-
go basis, which equates to about one-half of the annual required
contribution on an actuarial basis.


DIPPIN' DOTS: Seeks to Employ Harpeth Capital as Broker
-------------------------------------------------------
Dippin' Dots, Inc., asks the U.S. Bankruptcy Court for the Western
District of Kentucky for permission to employ Harpeth Capital,
LLC, as its business broker.

It is the Debtor's intent to propose a Plan of Reorganization for
the treatment and disposition of all property and obligations
within its estate.

Harpeth Capital will:

   (a) familiarize itself to the extent it deems appropriate with
       the business, operations, properties, financial condition
       and prospects of the Debtor;

   (b) assist the Debtor in preparing an information package for
       distribution by Harpeth Capital to potential buyers
       describing the Debtor and its respective business,
       operations, financial condition and prospects;

   (c) contact and interact with prospective buyers, including
       advising and assisting in the course of managing requests
       for additional information and coordinating and conducting
       management meetings with interested parties;

   (d) advise and assist in the course of evaluation of term
       sheets and negotiation of the Transaction and will
       participate directly in those negotiations;

   (e) provide other financial advisory and investment banking
       services, as appropriate, that may be required to assist
       the Debtor, with the Transaction; and

   (f) advise and assist the Debtor in negotiating any asset
       purchase agreements or similar documents or conduct a court
       approved auction under Sections 363 and 365 of the
       Bankruptcy Code.

As compensation for Harpeth Capital's services, the Debtor will
pay:

   -- a non-refundable, cash retainer fee of $10,000 due upon
      approval of Harpeth Capital's application with the
      Bankruptcy Court; plus

   -- upon the close of a Transaction, a cash success fee equal to
      3.5% of the Aggregate Consideration or capital raised,
      subject to a minimum cash success fee of $250,000, due and
      payable simultaneous with the closing of the Transaction.

To the best of the Debtor's knowledge, Harpeth Capital is a
"disinterested party" pursuant to Section 101(14) of the
Bankruptcy Code.

                        About Dippin' Dots

Founded in 1988 by microbiologist Curt Jones, Dippin' Dots Inc.
manufactures quirky and colorful ice cream beads, which are flash
frozen using liquid nitrogen.  It owns a 120,000-square-foot plant
in Kentucky that can produce more than 25,000 gallons of frozen
dots a day.  It has about 140 Dippin' Dots retail locations, which
are mostly controlled by franchisees, and agreements with 9,952
small vendors who sell the ice cream at fairs, festivals and
sports games.  Dippin' Dots isn't sold in grocery stores because
of its extreme cooling requirements.

Dippin' Dots filed a Chapter 11 petition (Bankr. W. D. Ky Case No.
11-51077) on Nov. 3, 2011 in Paducah, Kentucky.  Judge Thomas H.
Fulton presides over the case.  Farmer & Wright, PLLC, represents
the Debtor as Chapter 11 counsel.  The Debtor disclosed
$20,233,130 in assets and up to $20,233,130 in debts.  The
petition was signed by Curt Jones, president.

Regions Bank, the Debtor's secured lender, is represented by Brian
H. Meldrum, Esq., at Stites & Harbison PLLC.


DIPPIN' DOTS: Court OKs Farmer & Wright as Bankruptcy Counsel
-------------------------------------------------------------
The Bankruptcy Court authorized Dippin' Dots, Inc., to employ
Todd A. Farmer and Samuel J. Wright, with Farmer & Wright, PLLC,
as Chapter 11 counsel.

The Debtor will pay $225 per hour for Mr. Farmer and $205 per hour
for Mr. Wright.  Paralegal time will be billed at $85 per hour.
The firm's other professionals who may provide services in the
case are Stephanie B. Rumfelt, Paralegal; and Melody N. Roberts,
Paralegal.

The attorneys have been paid $75,000 as a general retainer (plus
$1,046 in filing fees).  Counsel is also holding $25,000 in its
escrow account which the Debtor believes will be used for the
retention of other professionals in this case upon approval by the
Court.

The firm can be reached at:

         Todd A. Farmer, Esq.
         FARMER & WRIGHT, PLLC
         329 N. 5th Street
         P.O. Box 7766
         Paducah, KY 42002-7766
         Tel: (270) 443-4431
         Fax: (270) 443-4631
         E-mail: todd@sfk-law.com

                         About Dippin' Dots

Founded in 1988 by microbiologist Curt Jones, Dippin' Dots Inc.
manufactures quirky and colorful ice cream beads, which are flash
frozen using liquid nitrogen.  It owns a 120,000-square-foot plant
in Kentucky that can produce more than 25,000 gallons of frozen
dots a day.  It has about 140 Dippin' Dots retail locations, which
are mostly controlled by franchisees, and agreements with 9,952
small vendors who sell the ice cream at fairs, festivals and
sports games.  Dippin' Dots isn't sold in grocery stores because
of its extreme cooling requirements.

Dippin' Dots filed a Chapter 11 petition (Bankr. W. D. Ky Case No.
11-51077) on Nov. 3, 2011 in Paducah, Kentucky.  Judge Thomas H.
Fulton presides over the case.  Farmer & Wright, PLLC, represents
the Debtor as Chapter 11 counsel.  The Debtor disclosed
$20,233,130 in assets and up to $20,233,130 in debts.  The
petition was signed by Curt Jones, president.

Regions Bank, the Debtor's secured lender, is represented by Brian
H. Meldrum, Esq., at Stites & Harbison PLLC.


DALLAS ROADSTER: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Dallas Roadster, Limited
        825 Avenue K
        Plano, TX 75074

Bankruptcy Case No.: 11-43725

Chapter 11 Petition Date: December 12, 2011

Court: United States Bankruptcy Court
       Eastern District of Texas (Sherman)

Judge: Brenda T. Rhoades

Debtor's Counsel: Robert T. DeMarco, Esq.
                  DEMARCO-MITCHELL, PLLC
                  1255 West 15th St., 805
                  Plano, TX 75075
                  Tel: (972) 578-1400
                  Fax: (972) 346-6791
                  E-mail: robert@demarcomitchell.com

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

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

The petition was signed by Bahman Khobahy, president of IEDA,
Inc., general partner.

The Debtor did not file its list of largest unsecured creditors
when it filed its petition.


DRINKS AMERICAS: Incurs $384,000 Net Loss in Oct. 31 Quarter
------------------------------------------------------------
Drinks Americas Holdings, Ltd., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, reporting a
net loss of $384,203 on $1.27 million of net sales for the three
months ended Oct. 31, 2011, compared with a net loss of $850,415
on $143,642 of net sales for the same period a year ago.

The Company also reported a net loss of $730,471 on $1.41 million
of net sales for the six months ended Oct. 31, 2011, compared with
a net loss of $1.74 million on $245,898 of net sales for the same
period during the prior year.

The Company's balance sheet at Oct. 31, 2011, showed $2.52 million
in total assets, $5.35 million in total liabilities, and a
$2.83 million total stockholders' deficiency.

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

                        http://is.gd/cwG3oj

                       About Drinks Americas

Headquartered in Wilton, Conn., Drinks Americas Holdings, Ltd. --
http://www.drinksamericas.com/-- through its majority-owned
subsidiaries, Drinks Americas, Inc., Drinks Global, LLC, D.T.
Drinks, LLC, and Olifant U.S.A Inc., imports, distributes and
markets unique premium wine and spirits and alcoholic beverages
associated with icon entertainers, celebrities and destinations,
to beverage wholesalers throughout the United States.

The Company reported a net loss of $4.58 million on $497,453 of
net sales for the year ended April 30, 2011, compared with a net
loss of $5.61 million on $890,380 of net sales during the prior
year.

Bernstein & Pinchuk, in New York, expressed substantial doubt
about the Company's ability to continue as a going concern.  The
independent auditors noted that the Company has incurred
significant losses from operations since its inception and has a
working capital deficiency.


ECO SOLAR: Case Summary & 12 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Eco Solar, Inc
        2101 47th St.
        Sarasota, FL 34234

Bankruptcy Case No.: 11-22419

Chapter 11 Petition Date: December 7, 2011

Court: United States Bankruptcy Court
       Middle District of Florida (Tampa)

Debtor's Counsel: David W Steen, Esq.
                  DAVID W STEEN PA
                  13902 North Dale Mabry Highway, Suite 110
                  Tampa, FL 33618
                  Tel: (813) 251-3000
                  Fax: (813) 251-3100
                  E-mail: dwsteen@dsteenpa.com

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

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

A list of the Company's 12 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/flmb11-22419.pdf

The petition was signed by Peter Laughlin, president.


EDWARD DEETS: Section 341(a) Meeting Scheduled for Jan. 27
----------------------------------------------------------
The U.S. Trustee for Region 3 will convene a meeting of creditors
of Edward Deets Holding Company, Inc., on Jan. 27, 2012, at 10:00
a.m.  The meeting will be held at Wm J Nealon Fed Bldg/US
Courthouse, room to be determined, Washington & Linden Streets,
Scranton, Pennsylvania.

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.

Mountain Top, Pa.-based Edward Deets Holding Company, Inc., filed
for Chapter 11 bankruptcy (Bankr. M.D. Pa. Case No. 11-06869) on
Oct. 6, 2011.  The Debtor estimated assets of $10 million to
$50 million and estimated debts of $1 million to $10 million.  The
petition was signed by Edward Deets, president.


EMPRESAS INTEREX: Hires Cuprill Law Office as Bankr. Counsel
------------------------------------------------------------
Empresas Interex Inc. said it is not sufficiently familiar with
the law to be able to plan and conduct its bankruptcy proceedings
without competent legal counsel.  Accordingly, Empresas Interex
seeks Bankruptcy Court permission to hire as counsel:

          Charles Alfred Cuprill, Esq.
          CHARLES A CURPILL, PSC LAW OFFICE
          356 Calle Fortaleza, Second Floor
          San Juan, PR 00901
          Tel: (787) 977-0515
          E-mail: ccuprill@cuprill.com

The Debtor proposes to pay Charles A. Cuprill-Hernandez, Esq.,
$350 per hour; senior associates $225; junior associates $150; and
paralegals $85.  The Debtor will also reimburse the firm for
actual necessary expenses.  The Debtor has provided the firm
$15,000 as retainer.

Mr. Cuprill-Hernandez attests that his firm is a "disinterested
person" as defined in 11 U.S.C. Sec. 101(14).

San Juan, Puerto Rico-based Empresas Interex Inc. filed for
Chapter 11 bankruptcy (Bankr. D. P.R. Case No. 11-10475) on
Dec. 7, 2011.  Bankruptcy Judge Mildred Caban Flores presides over
the case.  Empresas Interex scheduled $10,372,712 in assets and
$9,668,801 in debts.  The petition was signed by Hector Alvarez,
president.


EMPRESAS INTEREX: Sec. 341 Creditors' Meeting Set for Jan. 13
-------------------------------------------------------------
The United States Trustee in San Juan, Puerto Rico, will hold a
meeting of creditors in the Chapter 11 case of Empresas Interex
Inc. pursuant to Sec. 341(a) of the Bankruptcy Code on Jan. 13,
2012, at 2:00 p.m. at 341 Meeting Room, Ochoa Building, 500 Tanca
Street, First Floor, San Juan.

Proofs of claim are due April 12, 2012.  Government proofs of
Claim are due by June 9, 2012.

San Juan, Puerto Rico-based Empresas Interex Inc. filed for
Chapter 11 bankruptcy (Bankr. D. P.R. Case No. 11-10475) on
Dec. 7, 2011.  Bankruptcy Judge Mildred Caban Flores presides over
the case.  Charles Alfred Cuprill PSC Law Office serves as the
Debtor's counsel.  Empresas Interex scheduled $10,372,712 in
assets and $9,668,801 in liabilities.  The petition was signed by
Hector Alvarez, president.


FILENE'S BASEMENT: Committee Taps Richard Layton as Co-Counsel
--------------------------------------------------------------
The Official Committee of Unsecured Creditors of the Chapter 11
cases of Filene's Basement, LLC, et al., asks the U.S. Bankruptcy
Court for the District of Delaware for permission to retain
Richards, Layton & Finger, P.A., as co-counsel to the Committee
nunc pro tunc to Nov. 8, 2011.

As the Committee's co-counsel, the firm will, among other things:

   a) advise the Committee of its rights, powers and duties
      in the Chapter 11 cases;

   b) assist and advise the Committee in its consultations
      with the Debtors relative to the administration of
      these chapter 11 cases;

   c) assist the Committee in analyzing the claims of the
      Debtors' creditors and in negotiating with such
      creditors;

   d) assist with the Committee's investigation of the acts,
      conduct, assets, liabilities and financial condition
      of the Debtors and of the operation of the Debtors'
      businesses; and

   e) assist the Committee in its analysis of, and
      negotiations with, the Debtors or their creditors
      concerning matters related to, among other things,
      the term of any plan or plans of reorganization or
      liquidation or any section 363 sale.

The Committee proposes to pay RL&F its customary hourly rates as
set forth in the affidavit of Michael J. Merchant.

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

                      About Filene's Basement

Massachusetts-based Filene's Basement, also called The Basement,
is the oldest off-price retailer in the United States.  The
Basement focuses on high-end goods and is known for its
distinctive, low-technology automatic markdown system.

Filene's Basement first filed for Chapter 11 bankruptcy protection
in August 1999.  Filene's Basement was bought by a predecessor of
Retail Ventures, Inc., the following year.  Retail Ventures in
April 2009 transferred the unit to Buxbaum.

Filene's Basement, Inc. and its affiliates filed for Chapter 22
(Bankr. D. Del. Case No. 09-11525) on May 4, 2009, represented by
lawyers at Pachulski Stang Ziehl & Jones LLP.  Epiq Bankruptcy
Solutions serves as claims and notice agent.  The Debtors listed
$50 million to $100 million in assets and $100 million to $500
million in debts.

The 2009 Debtor was formally renamed FB Liquidating Estate,
following the sale of all of its assets to Syms Corp. in June
2009.

Pursuant to the Liquidating Plan confirmed in January 2010,
secured creditors in the Chapter 11 case have been paid in full,
and holders of priority, administrative and convenience class
claims have received 100% of their allowed claims.  As reported by
the Troubled Company Reporter on Dec. 20, 2010, Alan Cohen,
Chairman of Abacus Advisors LLC and Chief Restructuring Officer
for FB Liquidating Estate disclosed that a second distribution of
dividend checks to Filene's unsecured creditors amounting to 12.5%
of approved claims has been made, bringing the cumulative
distributions on unsecured claims to 62.5%.

On Nov. 2, 2011, Syms Corp. placed itself, Filene's Basement and
two other units in Chapter 11 bankruptcy (Bankr. D. Del. Case Nos.
11-13511 to 11-13514) after a failed bid to sell the business.
The two units are Syms Clothing Inc. and Syms Advertising Inc.

Judge Kevin J. Carey presides over the case.  Lawyers at Skadden
Arps Slate Meagher & Flom LLP serve as the Debtors' counsel.  The
Debtors tapped Rothschild Inc. as investment banker and Cushman
and Wakefield Securities, Inc., as real estate financial advisors.

Syms shuttered its namesake and Filene's Basement outlets upon the
bankruptcy filing and tapped a joint venture of Gordon Brothers
Retail Partners LLC and Hilco Merchant Resources LLC to run the
going-out-of-business sales.  The sale may continue until Jan. 31,
2012.

Filene's Basement estimated $1 million to $10 million in assets
and $50 million to $100 million in debts.  The petitions were
signed by Gary Binkoski, authorized representative of Filene's
Basement.

The official committee of unsecured creditors appointed in the
2011 case has retained Hahn & Hessen LLP as legal counsel.

Holders of equity in Syms Corp. pushed for an official
shareholders' committee and separation of the Syms and Filene's
Basement bankruptcy estates.

Gordon Brothers and Hilco are represented by Goulston & Storrs,
P.C. and Ashby & Geddes, P.A.


FILENE'S BASEMENT: Committee Hires Munger Tolles as Counsel
-----------------------------------------------------------
The Official Committee of Unsecured Creditors of the Chapter 11
cases of Filene's Basement, LLC, et al., asks the U.S. Bankruptcy
Court for the District of Delaware for permission to retain
Munger, Tolles & Olson LLP as counsel to the Committee, nunc pro
tunc to Nov. 15, 2011.

The professional services MTO would provide to the Committee
include but are not limited to:

   * to provide legal advice and assistance to the Committee
     concerning the administration of the Chapter 11 cases;

   * to consult with, aid, and advise the Committee with
     respect to the investigation of the acts, conduct,
     assets, liabilities, and financial condition of the
     Debtors, the operations of the Debtors' businesses,
     and any other matter relevant to the cases or the
     formulation of a plan of liquidation or reorganization;

   * to advise the Committee of its fiduciary duties and
     responsibilities to Syms' equity security holders and
     to direct necessary communication with same;

   * to evaluate and potentially pursue claims against
     parties;

   * represent the Committee's interest in any hearings
     before this Court and communicate with the Committee
     regarding the issues raised, as well as the decisions
     of the Court;

   * to review and analyze all applications, motions,
     pleadings, orders, statements of operation, and
     schedules filed with the Court by the Debtors or
     third parties or other matters filed in the Debtors'
     cases, advise the Committee as to their propriety,
     and, after consultation with the Committee, take
     appropriate action; and

   * assist the Committee in preparing applications,
     motions, and orders in support of positions taken by
     the Committee, as well as prepare witnesses ad review
     documents in this regard.

MTO will charge for services rendered to the Committee in
accordance with MTO's hourly rates in effect at the times services
are rendered.  The hourly rates for the MTO attorneys and
paraprofessionals anticipated to render services to the Committee
range from $620 to $925 for partners, $325 to $575 for associates,
and $65 to $230 for paraprofessionals.  These hourly rates are
adjusted periodically to reflect the advancing experience,
capabilities, and seniority of its professionals as well as
general economic factors.  MTO currently expects to adjust its
rates effective as of Jan. 1, 2012.

In addition, MTO will seek reimbursement for actual and necessary
expenses incurred in connection with its representation of the
Committee.

To the best of the Committee's knowledge, MTO does not hold or
represent any interest materially adverse to the Debtor or the
Debtor's estate, and that MTO is a "disinterested person" as
that term is defined in section 101(14) of the Bankruptcy Code.

                      About Filene's Basement

Massachusetts-based Filene's Basement, also called The Basement,
is the oldest off-price retailer in the United States.  The
Basement focuses on high-end goods and is known for its
distinctive, low-technology automatic markdown system.

Filene's Basement first filed for Chapter 11 bankruptcy protection
in August 1999.  Filene's Basement was bought by a predecessor of
Retail Ventures, Inc., the following year.  Retail Ventures in
April 2009 transferred the unit to Buxbaum.

Filene's Basement, Inc. and its affiliates filed for Chapter 22
(Bankr. D. Del. Case No. 09-11525) on May 4, 2009, represented by
lawyers at Pachulski Stang Ziehl & Jones LLP.  Epiq Bankruptcy
Solutions serves as claims and notice agent.  The Debtors listed
$50 million to $100 million in assets and $100 million to $500
million in debts.

The 2009 Debtor was formally renamed FB Liquidating Estate,
following the sale of all of its assets to Syms Corp. in June
2009.

Pursuant to the Liquidating Plan confirmed in January 2010,
secured creditors in the Chapter 11 case have been paid in full,
and holders of priority, administrative and convenience class
claims have received 100% of their allowed claims.  As reported by
the Troubled Company Reporter on Dec. 20, 2010, Alan Cohen,
Chairman of Abacus Advisors LLC and Chief Restructuring Officer
for FB Liquidating Estate disclosed that a second distribution of
dividend checks to Filene's unsecured creditors amounting to 12.5%
of approved claims has been made, bringing the cumulative
distributions on unsecured claims to 62.5%.

On Nov. 2, 2011, Syms Corp. placed itself, Filene's Basement and
two other units in Chapter 11 bankruptcy (Bankr. D. Del. Case Nos.
11-13511 to 11-13514) after a failed bid to sell the business.
The two units are Syms Clothing Inc. and Syms Advertising Inc.

Judge Kevin J. Carey presides over the case.  Lawyers at Skadden
Arps Slate Meagher & Flom LLP serve as the Debtors' counsel.  The
Debtors tapped Rothschild Inc. as investment banker and Cushman
and Wakefield Securities, Inc., as real estate financial advisors.

Syms shuttered its namesake and Filene's Basement outlets upon the
bankruptcy filing and tapped a joint venture of Gordon Brothers
Retail Partners LLC and Hilco Merchant Resources LLC to run the
going-out-of-business sales.  The sale may continue until Jan. 31,
2012.

Filene's Basement estimated $1 million to $10 million in assets
and $50 million to $100 million in debts.  The petitions were
signed by Gary Binkoski, authorized representative of Filene's
Basement.

The official committee of unsecured creditors appointed in the
2011 case has retained Hahn & Hessen LLP as legal counsel.

Holders of equity in Syms Corp. pushed for an official
shareholders' committee and separation of the Syms and Filene's
Basement bankruptcy estates.

Gordon Brothers and Hilco are represented by Goulston & Storrs,
P.C. and Ashby & Geddes, P.A.


FILENE'S BASEMENT: Syms Equity Committee Defends Right to Exist
---------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the official shareholders' committee for Syms Corp.
and subsidiary Filene's Basement LLC predictably is opposing a
motion by the creditors' committee to disband the equity panel.
The U.S. Trustee, who appointed the equity committee, is also
opposed.

The report relates that in court papers, the shareholders'
committee said their interests aren't adequately represented
because management is "hopelessly conflicted and have a long
history of antagonism" toward minority shareholders.

The shareholders, according to the report, say an equity committee
is justified because Syms is solvent, even if Filene's may have
insufficient assets to fully pay its separate debts.  The equity
committee and the U.S. Trustee also argue that there was no abuse
of discretion when the U.S. Trustee took it upon herself to
appoint the additional official committee.

According to the report, the shareholders likewise oppose the idea
of placing a cap on their committee's professionals' fees.  They
say equity holders ultimately will pay the cost for everyone's
professionals, including the creditors' committee's lawyers.

There's a "current short-squeeze going on in connection with the
Syms stock," David Tawil, co-founder and portfolio manager at
Maglan Capital, said in an e-mail, according to the report.  To
justify the price, the real estate must be worth $200 million,
which he said is "unlikely." Tawil said he's betting on a decline
in the shares.

The day of bankruptcy, the shares closed at $9.72, up 27% from the
previous day.  The stock slumped to $7.90 on Nov. 14 and has risen
since then.

                     About Filene's Basement

Massachusetts-based Filene's Basement, also called The Basement,
is the oldest off-price retailer in the United States.  The
Basement focuses on high-end goods and is known for its
distinctive, low-technology automatic markdown system.

Filene's Basement first filed for Chapter 11 bankruptcy protection
in August 1999.  Filene's Basement was bought by a predecessor of
Retail Ventures, Inc., the following year.  Retail Ventures in
April 2009 transferred the unit to Buxbaum.

Filene's Basement, Inc. and its affiliates filed for Chapter 22
(Bankr. D. Del. Case No. 09-11525) on May 4, 2009, represented by
lawyers at Pachulski Stang Ziehl & Jones LLP.  Epiq Bankruptcy
Solutions serves as claims and notice agent.  The Debtors listed
$50 million to $100 million in assets and $100 million to $500
million in debts.

The 2009 Debtor was formally renamed FB Liquidating Estate,
following the sale of all of its assets to Syms Corp. in June
2009.

Pursuant to the Liquidating Plan confirmed in January 2010,
secured creditors in the Chapter 11 case have been paid in full,
and holders of priority, administrative and convenience class
claims have received 100% of their allowed claims.  As reported by
the Troubled Company Reporter on Dec. 20, 2010, Alan Cohen,
Chairman of Abacus Advisors LLC and Chief Restructuring Officer
for FB Liquidating Estate disclosed that a second distribution of
dividend checks to Filene's unsecured creditors amounting to 12.5%
of approved claims has been made, bringing the cumulative
distributions on unsecured claims to 62.5%.

On Nov. 2, 2011, Syms Corp. placed itself, Filene's Basement and
two other units in Chapter 11 bankruptcy (Bankr. D. Del. Case Nos.
11-13511 to 11-13514) after a failed bid to sell the business.
The two units are Syms Clothing Inc. and Syms Advertising Inc.

Judge Kevin J. Carey presides over the case.  Lawyers at Skadden
Arps Slate Meagher & Flom LLP serve as the Debtors' counsel.  The
Debtors tapped Rothschild Inc. as investment banker and Cushman
and Wakefield Securities, Inc., as real estate financial advisors.

Syms shuttered its namesake and Filene's Basement outlets upon the
bankruptcy filing and tapped a joint venture of Gordon Brothers
Retail Partners LLC and Hilco Merchant Resources LLC to run the
going-out-of-business sales.  The sale may continue until Jan. 31,
2012.

Filene's Basement estimated $1 million to $10 million in assets
and $50 million to $100 million in debts.  The petitions were
signed by Gary Binkoski, authorized representative of Filene's
Basement.

The official committee of unsecured creditors appointed in the
2011 case has retained Hahn & Hessen LLP as legal counsel.

Holders of equity in Syms Corp. pushed for an official
shareholders' committee and separation of the Syms and Filene's
Basement bankruptcy estates.

Gordon Brothers and Hilco are represented by Goulston & Storrs,
P.C. and Ashby & Geddes, P.A.


FIRST STREET: Wins OK to Hire Macdonald & Associates as Attorneys
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of California
authorized First Street Holdings NV, LLC, et al., to employ
Macdonald & Associates as their attorneys.

The firm will assist the Debtors in plan formulation, preparing
schedules and statement of financial affairs, reviewing monthly
operating reports, responding to creditor inquiries, litigating
potential claims by or against third parties, assisting it with
sales of assets, together with any and all services usually
performed by debtors' counsel in a chapter 11 case.

                        About First Street

First Street Holdings NV, LLC, filed for Chapter 11 bankruptcy
(Bankr. N.D. Calif. Case No. 11-49300) on Aug. 30, 2011, before
Judge Roger L. Efremsky.  Iain A. Macdonald, Esq., at MacDonald
and Associates, serves as the Debtor's bankruptcy counsel.  In its
schedules, the Debtor disclosed $81,962,460 in assets and
$80,409,199 in liabilities.


FORMATECH, INC: Cancer Drug Formulation Needs to be Redone
----------------------------------------------------------
Cellceutix Corporation provided an update on the development of
Kevetrin(TM), the Company's flagship anti-cancer compound.  The
U.S. Food and Drug Administration has reviewed the Investigational
New Drug (IND) application for Kevetrin(TM) and advised that the
batch formulation is needed to be redone as a result of the
ceasing of operations at Formatech, the company that produced the
filled vials.  Formatech filed for bankruptcy shortly before the
IND filing.  Cellceutix management has already identified an
alternative formulation site with production planned for January
2012.

Additionally, Cellceutix has been approached by the Pioneer Valley
Life Sciences Institute, a Baystate Medical Center/University of
Massachusetts Amherst Research Partnership, to collaborate on an
innovative research project on Kevetrin(TM).  The Institute wishes
to investigate Kevetrin's antitumor activity related to risk
factor aging and, as such, Cellceutix has initiated a major study
in collaboration with the Institute.

Kevetrin(TM) has potent antitumor activity in several wild type
and mutant p53 human tumor xenografts.  It is well established
that aging is a major risk factor for tumorigenesis.  As
mitochondrial function declines with age, it provides survival
advantages to cancer cells.  In mitochondrial respiration-
deficient cells, p53 levels are reduced to undetectable levels.
Since Kevetrin has been shown to be very effective in wild and
mutant p53 tumors, it is highly desirable and important to
understand Kevetrin's role in antitumor activity in the context of
age-related mitochondrial dysfunction.

This study will provide vital insight and may have a considerable
impact on the treatment of tumors associated with mitochondrial
dysfunction due to aging.  Dr. Nagendra Yadava, a leader in
mitochondrial disease and aging, in the Department of Biology at
University of Massachusetts Amherst, will initially head the
research.

"We have already moved quickly towards manufacturing a new batch
of Kevetrin(TM) for the clinical trials," commented Leo Ehrlich,
CEO of Cellceutix.  "It's a bit of a disappointment that was
completely out of our hands.  In the grand picture, the
remanufacturing will only set us back a short time that we will
use to focus on other aspects of development of Kevetrin(TM) and
our other compounds.  We have been approached recently by several
major universities wanting to research Kevetrin and anticipate
more of these joint efforts to be coming in the near term as we
continue to associate ourselves with the biggest names in the
oncology arena."

Cellceutix Corporation -- http://www.cellceutix.com/-- is a
preclinical cancer, anti-inflammatory and autism drug developer.

Formatech, Inc., filed a Chapter 11 petition (Bankr. D. Mass. Case
No. 11-43424) on Aug. 12, 2011 in Worcester, Massachusetts, Barry
C. Richmond, Esq. at Law Office of Barry C. Richmond, in
Worcester, serves as counsel to the Debtor.  The Debtor estimated
up to $1,000,000 in assets and up to $10,000,000 in liabilities.

The petition was signed by Indu S. Javeri, president.


FRIENDLY ICE CREAM: Section 341(a) Meeting Scheduled for Jan. 17
----------------------------------------------------------------
The U.S. Trustee for Region 3 will convene a meeting of creditors
of Friendly Ice Cream Corp. on Jan. 17, 2012, at 1:30 p.m.  The
meeting will be held at J. Caleb Boggs Federal Building, 844 King
Street, 2nd Floor, Room 2112, 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 Friendly Ice Cream

Friendly Ice Cream Corp. -- http://www.friendlys.com/-- the owner
and franchiser of 490 full-service, family-oriented restaurants
and provider of ice cream products in the Eastern United States,
filed for Chapter 11 reorganization together with four affiliates
(Bankr. D. Del. Lead Case No. 11-13167) on Oct. 5, 2011, to sell
the business mostly in exchange for debt to Sundae Group Holdings
II LLC, a unit of Sun Capital Partners Inc.  The existing owner
and holder of the Debtors' second-lien debt are also affiliates of
Sun Capital.  Friendly's, based in Wilbraham, Massachusetts, also
announced the closing of 63 stores, leaving about 424 operating.
Franchise operators have about 230 of the locations.

Judge Kevin Gross oversees the case.  James A. Stempel, Esq., Ross
M. Kwasteniet, Esq., and Jeffrey D. Pawlitz, Esq., at Kirkland &
Ellis LLP; and Laura Davis Jones, Esq., Timothy P. Cairns, Esq.,
and Kathleen P. Makowski, Esq., at Pachulski Stang Ziehl & Jones
LLP, serve as the Debtors' bankruptcy counsel.  Zolfo Cooper
serves as the Debtors' financial advisors.

In its petition, Friendly Ice Cream Corp. estimated $100 million
to $500 million in assets and debts.  The petitions were signed by
Steven C. Sanchioni, executive vice president, chief financial
officer, treasurer, and assistant secretary.

Sundae Group Holdings proposes to pay about $120 million for the
business.  The price includes enough cash to pay first-lien debt
and an amount of cash for unsecured creditors to be negotiated
with the official creditors' committee.  Aside from cash, Sun
Capital will make a credit bid from the $267.7 million in second-
lien, pay-in-kind notes.

The bid from Sun Capital is subject to higher and better offers
at an auction.  Under the proposed time-line, bids would be due
Nov. 24, followed by an auction on Dec. 1.  A competing bid must
be at least $122.6 million in cash.

Friendly's is one of two companies under Sun Capital's portfolio
to file for bankruptcy in a span of two days.  Mexican-food chain
Real Mex, which operates restaurants such as Chevys, filed in
Delaware bankruptcy court on Oct. 3, 2011.

On Oct. 12, 2011, the U.S. Trustee appointed the Committee.  The
Committee currently consists of seven members.  The Committee
selected Akin Gump Straus Hauer & Feld LLP and Blank Rome LLP to
serve as co-counsel to the Committee, and FTI Consulting to serve
as the Committee's financial advisor.


FRIENDLY ICE CREAM: Wells Fargo Says No Rivals Stepping Up to Bid
-----------------------------------------------------------------
Dow Jones' DBR Small Cap reports that the agent for lenders to
Friendly Ice Cream Corp. says there's no point in letting the
fight over a credit bid for the chain's assets play out since no
other purchaser has yet stepped up to challenge the stalking
horse.

                     About Friendly Ice Cream

Friendly Ice Cream Corp. -- http://www.friendlys.com/-- the owner
and franchiser of 490 full-service, family-oriented restaurants
and provider of ice cream products in the Eastern United States,
filed for Chapter 11 reorganization together with four affiliates
(Bankr. D. Del. Lead Case No. 11-13167) on Oct. 5, 2011, to sell
the business mostly in exchange for debt to Sundae Group Holdings
II LLC, a unit of Sun Capital Partners Inc.  The existing owner
and holder of the Debtors' second-lien debt are also affiliates of
Sun Capital.  Friendly's, based in Wilbraham, Massachusetts, also
announced the closing of 63 stores, leaving about 424 operating.
Franchise operators have about 230 of the locations.

Judge Kevin Gross oversees the case.  James A. Stempel, Esq., Ross
M. Kwasteniet, Esq., and Jeffrey D. Pawlitz, Esq., at Kirkland &
Ellis LLP; and Laura Davis Jones, Esq., Timothy P. Cairns, Esq.,
and Kathleen P. Makowski, Esq., at Pachulski Stang Ziehl & Jones
LLP, serve as the Debtors' bankruptcy counsel.  Zolfo Cooper
serves as the Debtors' financial advisors.

In its petition, Friendly Ice Cream Corp. estimated $100 million
to $500 million in assets and debts.  The petitions were signed by
Steven C. Sanchioni, executive vice president, chief financial
officer, treasurer, and assistant secretary.

Sundae Group Holdings proposes to pay about $120 million for the
business.  The price includes enough cash to pay first-lien debt
and an amount of cash for unsecured creditors to be negotiated
with the official creditors' committee.  Aside from cash, Sun
Capital will make a credit bid from the $267.7 million in second-
lien, pay-in-kind notes.

The bid from Sun Capital is subject to higher and better offers
at an auction.  Under the proposed time-line, bids would be due
Nov. 24, followed by an auction on Dec. 1.  A competing bid must
be at least $122.6 million in cash.

Friendly's is one of two companies under Sun Capital's portfolio
to file for bankruptcy in a span of two days.  Mexican-food chain
Real Mex, which operates restaurants such as Chevys, filed in
Delaware bankruptcy court on Oct. 3, 2011.

On Oct. 12, 2011, the U.S. Trustee appointed the Committee.  The
Committee currently consists of seven members.  The Committee
selected Akin Gump Straus Hauer & Feld LLP and Blank Rome LLP to
serve as co-counsel to the Committee, and FTI Consulting to serve
as the Committee's financial advisor.


GELT PROPERTIES: Court OKs Craig Howe as Committee's Accountants
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Pennsylvania
authorized the Official Committee of Unsecured Creditors of Gelt
Properties LLC and Gelt Financial Corporation to retain Craig
Howe, CPA, and Howe, Keller & Hunter, P.C., as its accountants.

Craig Howe will:

   (a) examine the books and records of the Debtors;

   (b) assist the Committee in its investigation of the acts,
       conduct, assets, liabilities, and financial condition of
       the Debtors, and the operation of Debtors' business.

   (c) conduct a preference analysis and fraudulent conveyance
       analysis; and

   (d) perform all other accounting and financial services which
       may be necessary in these proceedings.

The hourly rates of the Craig Howe's professionals are:

              Partners           $250
              Staff              $175
              Administrative     $100

The firm will be reimbursed for all actual expenses incurred in
the performance of accounting services.

To the best of the Committee's knowledge, neither Craig Howe nor
his firm holds or represents an interest adverse to the estate
with respect to the matter on which they will be employed.

                       About Gelt Properties

Based in Huntington Valley, Pennsylvania, Gelt Properties, LLC,
and affiliate Gelt Financial Corporation borrow money from
traditional lenders and make loans to commercial borrowers.  They
also acquire and manage real estate.  Gelt Properties and Gelt
Financial filed for (Bankr. E.D. Pa. Case Nos. 11-15826 and 11-
15826) on July 25, 2011.  Judge Magdeline D. Coleman presides over
the cases.  Albert A. Ciardi, III, Esq., Jennifer E. Cranston,
Esq., and Thomas Daniel Bielli, Esq., at Ciardi Ciardi & Astin,
P.C., in Philadelphia, Pa., serve as the Debtors' bankruptcy
counsel.  The petitions were signed by Uri Shoham, the Debtors'
chief financial officer.  The Debtors' other professionals
include: Eisenberg, Gold & Cettei P.C. as its special counsel to
provide proper legal counsel to the Debtors with regard to
defending against certain actions, Cohen and Forman as their
special counsel to advise them upon all matters which may arise or
which may be incident to the bankruptcy proceedings.

Gelt Properties disclosed $4,727,090 in assets and $4,842,792 in
liabilities as of the Chapter 11 filing.  Its affiliate, Gelt
Financial, has filed its schedules disclosing $20,340,725 in
assets and $17,050,558 in liabilities as of the Chapter 11 filing.

On Sept. 15, 2011, a committee of unsecured creditors was
appointed.  Schoff McCabe, P.C. represents the Committee.


GRAND CANYON EQUITY: Buffalo Wild Wings Wins TRO for Trademark
--------------------------------------------------------------
Buffalo Wild Wings International, Inc., sought and obtained a
temporary restraining order and preliminary injunction to stop
franchisees of its Buffalo Wild Wings restaurants from infringing
on its trademarks.  Buffalo Wild Wings sued three franchisees,
along with a related entity and four individual guarantors,
alleging infringement and breach of the terms of the parties'
franchise agreements by continuing to use its trademarks, trade
names, slogans, symbols, etc., and its system of doing business
after their franchise agreements have terminated.  BWW also
obtained an order compelling the Defendants to de-identify with
the BWW brand.

The case is Buffalo Wild Wings International, Inc., v. Grand
Canyon Equity Partners, LLC, GCEP-Goodyear, LLC, GCEP-Surprise,
LLC, GCEP-Scottsdale, LLC, David Agado, Richard Folmar, Michael
Merriman, and Ceasar Perez, Civ. No. 11-3287 (D. Minn.).

BWW entered into a Franchise Agreement with Grand Canyon Equity
Partners in January 2004 for a restaurant located in Phoenix,
Arizona.  BWW entered into another Franchise Agreement with GCEP-
Goodyear in March 2006 for a restaurant in Goodyear, Arizona, and
one with GCEP-Surprise in October 2007 for a restaurant in
Surprise, Arizona.  The individual defendants are parties to the
action as guarantors of the Franchise Agreements.

GCEP-Goodyear and GCEP-Surprise defaulted on the Agreements by
failing to pay a third-party vendor as well as royalties and
advertising fees they owed.  BWW terminated the Franchise
Agreements with respect to the Goodyear and Surprise restaurants
on May 26, 2011.  BWW also informed GCEP-Goodyear and GCEP-
Surprise in the termination notice of its intent to enforce the
post-termination obligations set forth in the Franchise
Agreements.  These obligations include de-identifying the interior
and exterior of the restaurant to eliminate identification as a
BWW franchise and removing all of BWW's marks.

Following the termination of the Goodyear and Surprise Franchise
Agreements, BWW and the GCEP entities commenced negotiations
regarding the closure of the three restaurants.  The Defendants
wanted time to sell their interests in the restaurants, and BWW
agreed to allow them to continue operating for a limited time
while attempting to sell in order to preserve brand goodwill and
avoid interruption of service.

On July 29, 2011, BWW and Defendants executed a Limited
Reinstatement Agreement that reinstated the Franchise Agreements
through Oct. 20.  However, the Defendants were unable to reach an
agreement with any potential purchasers and even after Oct. 20,
they continued using the BWW marks.

While the Limited Reinstatement Agreement was in effect, GCEP-
Goodyear, GCEP-Scottsdale and GCEP-Surprise filed for Chapter 11
bankruptcy (Bankr. D. Ariz. Case Nos. 11-22546, 11-22547 and 11-
22550) on Aug. 5, 2011.  Judge James M. Marlar presided over the
case.  Kevin C. McCoy, Esq. -- kmccoy@kelly-mccoy.com -- served as
the Debtors' counsel.  Each of the Debtors estimated $50,001 to
$100,000 in assets and $1 million to $10 million in debts.

BWW then sued the Debtors in bankruptcy court to halt the use of
the trademarks.  BWW also sought temporary and preliminary
injunctive relief.  However, before that motion was resolved, the
attorney representing the GCEP entities in the bankruptcy case
withdrew, and the case was dismissed on Nov. 4.

BWW, whose principal place of business is in Minnesota, then
commenced a lawsuit in Minnesota District Court on Nov. 8 and
moved for a temporary restraining order and preliminary
injunction.  The initial hearing on its Motion was cancelled after
the District Court learned that at least some of the GCEP
Defendants had filed for bankruptcy again, this time in the
Southern District of Texas.

GCEP-Goodyear LLC -- aka GCEP-Scottsdale LLC, GCEP Surprise LLC,
and GCEP -- filed a Chapter 11 petitin (Bankr. S.D. Tex. Case No.
11-20662) in Corpus Christi on Nov. 8, 2011.  The case was
assigned to Judge Richard S. Schmidt.  Mariana Garza, Esq. --
mariana@marianagarzalaw.com -- served as the Debtor's counsel.
GCEP-Goodyear estimated under $50,000 in assets and $1 million to
$10 million in debts.  The petition was signed by David R. Agado,
managing member.

The November bankruptcy proceeding was voluntarily dismissed,
however, and the parties are proceeding to litigate in the
Minnesota action.

A copy of District Judge Richard H. Kyle's Dec. 9, 2011 Memorandum
Opinion and Order is available at http://is.gd/JMD6c7from
Leagle.com.

Buffalo Wild Wings International is represented in the lawsuit by:

         Kerry L. Bundy, Esq.
         Christopher J.L. Diedrich
         FAEGRE & BENSON LLP
         2200 Wells Fargo Center
         90 South Seventh Street
         Minneapolis, MN 55402-3901
         Tel: 612-766-7994
         E-mail: kbundy@faegre.com
                 cdiedrich@faegre.com

Grand Canyon Equity Partners, LLC, GCEP-Goodyear, LLC, GCEP-
Surprise, LLC, GCEP-Scottsdale, LLC, David Agado, and Richard
Folmar are represented by:

         Ronald K. Gardner, Jr., Esq.
         J. Mark Dady, Esq.
         DADY & GARDNER. P.A.
         5100 IDS Center
         80 South Eighth Street
         Minneapolis, MN 55402
         E-mail: mdady@dadygardner.com


GREEN ENDEAVORS: Files Form S-8, Registers 300MM Common Shares
--------------------------------------------------------------
Green Endeavors, Inc., filed with the U.S. Securities and Exchange
Commission a Form S-8 registration statement registering
300,000,000 shares of common stock issuable under The 2011 Benefit
Plan of Green Endeavors, Inc.  The proposed maximum offering price
is $150,000.  A full-text copy of the prospectus is available for
free at http://is.gd/krGKnQ

                       About Green Endeavors

Salt Lake City, Utah-based Green Endeavors, Inc., runs two hair
care salons that feature Aveda(TM) products for retail sale.

The Company also reported a net loss of $112,799 on $2.05 million
of total revenue for the nine months ended Sept. 30, 2011,
compared with a net loss of $187,586 on $1.60 million of total
revenue for the same period a year ago.

The Company's balance sheet at Sept. 30, 2011, showed
$1.06 million in total assets, $4.37 million in total liabilities
and a $3.31 million total stockholders' deficit.

Green had a net loss for the nine months ended Sept. 30, 2011, of
$112,799 and negative working capital of $1,209,264, which raises
substantial doubt about the Green's ability to continue as a going
concern.  Green's ability to continue as a going concern is
contingent upon the successful completion of additional financing
arrangements and its ability to successfully fulfill its business
plan.  Management plans to attempt to raise additional funds to
finance the operating and capital requirements of Green through a
combination of equity and debt financings.  While Green is making
its best efforts to achieve the above plans, there is no assurance
that any such activity will generate funds that will be sufficient
for operations.

As reported by the TCR on April 1, 2011, Madsen & Associates CPA',
Inc., in Salt Lake City, Utah, expressed substantial doubt about
the Company's ability to continue as a going concern.  The
accountants noted that the Company will need additional working
capital for its planned activity and to service its debt.


GREEN PLANET: Amends Sept. 30 Form 10-Q to Correct "Typo" Errors
----------------------------------------------------------------
As reported previously in the TCR, Green Planet Group, Inc.,
reported net income of $17.6 million on $6.3 million of sales for
the three months ended Sept. 30, 2011, compared with a net loss of
$2.9 million on $10.3 million of sales for the three months ended
Sept. 30, 2010.

For the six months ended Sept. 30, 2011, the Company has net
income of $15.9 million on $15.4 million of sales, compared with a
net loss of $4.8 million on $20.3 million of sales for the six
months ended Sept. 30, 2010.

The Company's balance sheet at Sept. 30, 2011, showed
$3.9 million in total assets, $21.0 million in total
liabilities, and a stockholders' deficit of $17.1 million.

On Nov. 23, 2011, the Company filed Amendment No. 1 to its
Quarterly Report on Form 10-Q for the three months ended Sept. 30,
2011, as filed on Nov. 21, 2011, to correct typographical errors,
as follows:

Page 3 - Condensed Consolidated Balance Sheets:
(a) To correct the amount of "Accounts receivable, net of
    allowance for doubtful accounts" under the column for
    March 31, 2011, from $3,019,691 to $3,019,692;
(b) To correct the amount of "Total Current Assets" under the
    column for Sept. 30, 2011, from $2,234,267 to $2,324,267; and
(c) To correct the amount of "Accumulated deficit" under the
    column for Sept. 30, 2011, from ($35,828,304) to
    ($35,828,303);

Page 4 - Condensed Consolidated Statements of Operations - To
correct the amount of "Depreciation and amortization" under
Operating Expenses, under the column for "For the three months
ended Sept. 30, 2011" from $36,187 to $35,187;

Page 5 - Condensed Consolidated Statements of Stockholders'
Equity/(Deficit) - To remove the $15,883,831 from the column
entitled "Accumulated Deficit"inadvertently inserted under the
line entitled "Shares issued for interest payments;"
   
Page 6 - Condensed Consolidated Statements of Cash Flows:

(a) To correct the amount of "Amortization of debt discount and
    consulting contracts" under the column "For the six months
    ended Sept. 30, 2010" from ($52,296) to ($52,294);

(b) To correct the amount of "Gain on deconsolidation" under the
    column "For the six months ended Sept. 30, 2011" from
    $18,472,331 to (18,472,331);

(c) To correct the amount of "Other assets" under the column "For
    the six months ended Sept. 30, 2010" from $45,289 to $45,288;

(d) To correct the amount of "Accrued liabilities" under the
    column "For the six months ended Sept. 30, 2010" from
    $4,123,297 to $4,252,869;

(e) To correct the amount of "Cash provided (used) by operating
    activities" under the column "For the six months ended
    Sept. 30, 2010" from $106,882 to $236,424; and

(f) Under the section entitled "Non-Cash Activities," to correct
    the descriptions for the first four transactions to read as
    follows:  "Common Stock issued for services, payable and
    interest," "Common Stock issued for services, payable and
    interest (par value)," "Additional paid-in capital for
    services, payable and interest" and "Net non-cash stock
    activities related to services, payable and interest;"

Page 8 - In the table summarizing the effects on Sept. 30, 2011
Condensed Consolidated Balance Sheet of the deconsolidation of the
two entities effective Aug. 18, 2011 - To correct the amount
reflected for "Gain from deconsolidation of bankruptcy
subsidiaries" from $18,471,331 to $18,472,331;
   
Page 17 - Note 9 - Income Taxes:

(a) In the first paragraph, to correct the amount of the recorded
    valuation allowance from "approximately $17,200,000" to
    "approximately $17,100,000;" and

(b) In the second paragraph, to correct the amount of net
    operating loss carry forwards from "approximately $42,100,000"
    to "approximately $41,700,000;"

Page 26 - In the table relating to segment information for the
three months ended Sept. 30, 2011 - To correct the amount of the
line "Gain from deconsolidation" under the column entitled
"Staffing" and under the column entitled "Consolidated" from
$17,605,037 to $18,472,331;

Page 29 - In the section entitled "RESULTS OF OPERATIONS:"
(a) To correct the first paragraph to reflect that the "following
    table sets forth our results of operations for the three and
    six months ended Sept. 30, 2011, and 2010" instead of only for
    the three months ended Sept. 30, 2011, and 2010; and
(b) In the table relating to the Results of Operations for the
    three and six months ended Sept. 30, 2011, to correct the
    percentage amount on the lines for "INCOME/(LOSS) BEFORE
    INCOME TAXES" and "NET INCOME/(LOSS)" under the column "For
    the three months ended Sept. 30, 2011" from 281.2% to 281.1%.

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

                       http://is.gd/pjy2YP

                        About Green Planet

Scottsdale, Ariz.-based Green Planet Group, Inc., is a specialty
energy conservation chemical company that produces and supplies
technologies to the global transportation, industrial and consumer
markets.  These technologies include gasoline, oil and diesel
additives for engines and other transportation-related fluids and
industrial lubricants.  The Company also operates an industrial
staffing and employment business by providing employees to the
light industrial, medical, aviation maintenance and IT industries
on a national basis.

                          *     *     *

As reported in the TCR on July 21, 2011, Semple, Marchal & Cooper,
LLP, in Phoenix, Ariz., said that Green Planet Group's significant
operating losses and negative working capital raise substantial
doubt about its ability to continue as a going concern.


HARRISBURG, PA: McKenna Long Provides Counsel to Receiver
---------------------------------------------------------
The Municipal Recovery & Restructuring group of McKenna Long &
Aldridge LLP is representing Pennsylvania Governor Tom Corbett's
Commonwealth Court-appointed Receiver for the City of Harrisburg,
former Pennsylvania Department of Community and Economic
Development (DCED) Chief Counsel David Unkovic.  A team of legal,
policy and financial leaders in the firm's Municipal Recovery &
Restructuring group are providing counsel to Unkovic who is tasked
with developing and submitting a fiscal recovery plan to the
Commonwealth Court, DCED Secretary, Harrisburg City Council and
Mayor of Harrisburg.

"The breadth and depth of our political experience combined with
our legal and financial restructuring knowledge provides us with a
unique understanding of the issues faced by municipalities," said
Keith Mason, co-chair of the MLA Municipal Recovery &
Restructuring group.  "Our team is well positioned to provide the
comprehensive counsel that is critical to the fiscal recovery plan
being developed by Mr. Unkovic for the City of Harrisburg."
Mason, a former White House Deputy Assistant and Deputy Director
for Intergovernmental Affairs to President Bill Clinton, has
provided counsel on business strategy, legal and public policy
issues to business leaders and public officials for 25 years.

"The financial issues faced by municipalities in distress
situations are similar to those faced by businesses," said
Thurbert Baker, MLA partner and former attorney general for the
State of Georgia.  "However, municipalities are presented with a
set of complex political issues that are not seen in most
corporate restructurings," added Baker, who handles matters
related to corporate compliance and investigations and is a former
chair of the National Association of Attorneys General.  Baker is
working with forensic consultants hired by the Harrisburg
Authority to review the financings of its incinerator, the
Harrisburg Resource Recovery Facility, for possible recovery and
other legal actions.

MLA Municipal Recovery & Restructuring group co-chair Mark
Kaufman, a 38-year veteran of judicial and non-judicial financial
restructurings, is also advising Unkovic on the development of
Harrisburg's fiscal recovery plan. Kaufman is the author of the
firm's "Municipal Recovery & Restructuring Chapter 9 Guide" and
"10 Considerations for Financially-Distressed Local Governments
and Public Authorities" written for local government officials.
His practice is exclusively devoted to debt restructurings and
also to advising financially-distressed municipalities, special
purpose districts and related government entities.

                  About MLA Municipal Recovery

The MLA Municipal Recovery & Restructuring group --
http://www.mckennalong.com/practices-municipal-recovery.html/--
includes more than 40 legal, policy and financial leaders such as
former members of Congress, a governor, mayors, federal agency
counsel, and chiefs of staff.  The group's lawyers are noted for
their work in public finance, bankruptcy, restructuring,
insolvency, tax, public policy, public-private partnerships,
employee benefits and labor, government contracting, government
affairs and governance.  The MLA Municipal Recovery &
Restructuring group advises public sector clients to achieve a
consensual resolution of their financial concerns without
litigation and only resorting to a Chapter 9 bankruptcy when
absolutely necessary.

                  About McKenna Long & Aldridge LLP

McKenna Long & Aldridge LLP -- http://www.mckennalong.com/--
is an international law firm with 475 attorneys and public policy
advisors.  The firm provides business solutions in the areas of
public policy, government contracts, environment and energy
regulations, climate change, project finance, and litigation.

                   About Harrisburg, Pennsylvania

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

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

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

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

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

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

The governor of Pennsylvania selected an individual to serve as
receiver and take over the city.


HARRISBURG, PA: Judge Declines to Reverse Dismissal Ruling
----------------------------------------------------------
Katy Stech, writing for Dow Jones' Daily Bankruptcy Review,
reports that Judge Mary D. France has denied the request of the
Harrisburg city council to revive the city's Chapter 9 bankruptcy
case, ruling that the group appealed her decision three days after
the deadline.  In her ruling filed Tuesday afternoon, Judge France
pointed out that city councilors waited until Saturday to
challenge her ruling, missing the court's two-week deadline by
three days.

Judge France dismissed the case verbally at a hearing on Nov. 23,
saying she wanted to render her decision swiftly to ease confusion
that had ensued over the city's operations.  She didn't file a
written explanation of her decision until Dec. 5 -- a milestone,
DBR relates, that City Council attorney Mark Schwartz, Esq.,
mistakenly thought began the two-week window to appeal the 30-page
ruling.

According to DBR, the Court said the attorney's "misunderstanding
of the time limits for filing an appeal does establish a basis for
relief."  She said, "Inadvertence, ignorance of the applicable
rules, or mistake in construing the rules does not constitute
excusable neglect."

                  About Harrisburg, Pennsylvania

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

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

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

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

The Commonwealth of Pennsylvania, the County of Dauphin, and
Harrisburg city mayor Linda D. Thompson and other creditors and
interested parties objected to the petition.  The state later
adopted a new law allowing the governor to appoint a receiver.

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

Late in November 2011, the Bankruptcy Judge dismissed the Chapter
9 case because (1) the City Council did not have the authority
under the Optional Third Class City Charter Law and the Third
Class City Code to commence a bankruptcy case on behalf of
Harrisburg and (2) the City was not specifically authorized under
state law to be a debtor under Chapter 9 as required by 11 U.S.C.
Sec. 109(c)(2).


HUBBARD PROPERTIES: IWA Secured Claim Paid Over 15-Year Period
--------------------------------------------------------------
Hubbard Properties, LLC, has filed an Amended Disclosure Statement
in connection with its Amended Plan of Reorganization dated as of
Nov. 15, 2011.

A hearing to consider the adequacy of the Disclosure Statement is
scheduled for Dec. 20, 2011, at 11:00 a.m.

The Plan provides that the property of the Debtor's Estate,
together with any property of the Debtor that is not property of
its Estate and that is not specifically disposed of or abandoned
pursuant to the Plan, will revest in the Debtor on the Effective
Date.

The Plan segregates the various claims and interests in the Debtor
into 8 Classes.

Class 1    Unsecured Priority Claims
           (Estimated at $10,000)

Class 2    Secured Tax Claim of Pinellas County Tax Collector

Class 3    IWA Secured Claim
           (Amount estimated between $15,000,000 and $19,000,000
           based on possible valuation of collateral)

Class 4(A) Secured Claim of Butterfield
           (Estimated at $15,000)

Class 4(B) Secured Claim of Nagasti
           (Estimated at $15,000)

Class 5    Administrative Convenience Claims
           (Estimated at $5,000)

Class 6    General Unsecured Claims
           (Non-Affiliated General Unsecured Claims estimated at
           approximately $1,200,000)

Class 7    IWA Deficiency Claims
           (Estimated at range of $3,000,000 - $7,500,000 prior to
           setoff, offset, objection, or counterclaim)

Class 8    Equity Interests

Classes 1, 2 and 8 are Unimpaired.  Classes 3, 4(A), 4(B), 5, 6
and 7 are Impaired and Entitled to Vote.

The Class 2 Allowed Secured Tax Claims of the Pinellas County Tax
Collector for real and tangible personal property taxes for
2011 will be paid on or before March 31, 2012.

The Class 3 IWA Secured Claim will be satisfied through the
Debtor's delivery of the IWA Note A and IWA Note B on the
Effective Date.

The IWA Note A will provide for monthly payments of interest only
for the first 60 months following the Effective Date.  Unless the
Holder of the IWA Claim makes an 1111(b) election, on the 5th
Anniversary Date, any outstanding principal balance remaining on
the IWA Note B will be added to the outstanding principal balance
of the IWA Note A and the entire cumulative balance will be paid
through monthly payments of principal and interest thereafter
based on a 25-year amortization schedule with a balloon payment of
all principal and accrued interest due on the tenth Anniversary
Date.

The IWA Note B will provide for (i) monthly payments of interest
only for the 60 months following the Effective Date, plus any
Excess Cash Flow payments made within 20 days of the first through
5th Anniversary Dates, which will be credited to reduce the
principal amount of IWA Note B.  Unless the Holder of the
IWA Claim makes an 1111(b) election, on the 5th Anniversary Date,
the entire outstanding principal balance of IWA Note B will be
added to the principal balance of IWA Note A and paid as provided
above.

Holders of Allowed Class 6 Unsecured Claims (excluding Holders of
Allowed Class 6 Unsecured Claims that are Affiliates of the
Debtor) will receive a payment within 10 Business Days of the
Effective Date of 8% of such Holder's Allowed Class 6 Unsecured
Claim.  Within 30 days of the Debtor's receipt of the BP Claim
Proceeds, the Holders of Allowed Class 6 Claims will receive
an additional distribution equal to such Holder's Pro-Rata
share of 40% of the BP Claim Proceeds.

In the event that IWA does not make the IWA Election, any
IWA Deficiency Claim will be paid in annual installments equal to
the Excess Cash Flow Payment with the first payment to be made on
the 6th Anniversary Date of the Effective and continuing on the
Anniversary Date of each succeeding year until the earlier of (a)
the date that the Allowed IWA Deficiency Claim is paid in full or
(b) June 30, 2021.

All existing Equity Interests in the Debtor will be canceled
as of the Effective Date and new membership interests
representing one hundred percent (100%) of the membership
interests in the Reorganized Debtor will be issued to persons
or entities that provided the Exit Funding.

A copy of the amended disclosure statement is available for free
at http://bankrupt.com/misc/hubbardproperties.amendedDS.pdf

                     About Hubbard Properties

Hubbard Properties owns and operates a retail and entertainment
complex, located in Madeira Beach, Florida, commonly known as the
John's Pass Boardwalk.

Investors Warranty of America, Inc. (IWA) claims that it is owed
$28,404,980 secured by a mortgage on the Property and an
assignment of rents and related security interests.

Hubbard Properties, LLC, filed for Chapter 11 protection (Bankr.
M.D. Fla. Case No. 11-01274) in Tampa, Florida, on Jan. 27, 2011.
David S. Jennis, Esq., and James Allen McPheeters, Esq., at Jennis
& Bowen, P.L., in Tampa, Fla., serve as bankruptcy counsel.  The
Debtor also tapped Bacon & Bacon, P.A., as special counsel; Tony
Buzbee and The Buzbee Law Firm as special counsel in connection
with the assessment and recovery of the Debtor's BP oil spill
claim, Van Middlesworth and Company, P.A., as accountant; and
Claims Strategies Group, LLC, as claim consultant.

The law firm of Hill, Ward and Henderson, P.A., represents the
Official Committee of Unsecured Creditors as counsel.

In its amended schedules, the Debtor disclosed $12,572,058 in
assets and $23,849,378 in liabilities.


IEDA ENTERPRISE: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: IEDA Enterprise, Inc.
        dba Dallas Roadster
        825 Avenue K
        Plano, TX 75074

Bankruptcy Case No.: 11-43726

Chapter 11 Petition Date: December 12, 2011

Court: United States Bankruptcy Court
       Eastern District of Texas (Sherman)

Judge: Brenda T. Rhoades

Debtor's Counsel: Robert T. DeMarco, Esq.
                  DEMARCO-MITCHELL, PLLC
                  1255 West 15th St., 805
                  Plano, TX 75075
                  Tel: (972) 578-1400
                  Fax: (972) 346-6791
                  E-mail: robert@demarcomitchell.com

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

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

The petition was signed by Bahman Khobahy, president.

The Debtor did not file its list of largest unsecured creditors
when it filed its petition.


IMAGINART LLC: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Imaginart, LLC
        aka Imaginart Publishing
        dba Elite Art Events
        a Nevada limited liability company
        26439 Ranch Parkway South, #105
        Lake Forest, CA 92630

Bankruptcy Case No.: 11-26785

Chapter 11 Petition Date: December 7, 2011

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

Judge: Erithe A. Smith

Debtor's Counsel: Michael G Spector, Esq.
                  LAW OFFICES OF MICHAEL G. SPECTOR
                  2677 N Main St Ste 800
                  Santa Ana, CA 92705
                  Tel: (714) 835-3130
                  Fax: (714) 558-7435
                  E-mail: mgspector@aol.com

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

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/cacb11-26785.pdf

The petition was signed by Ernest Lewis, managing member.


INTEGRATED ENVIRONMENTAL: Engages TrueLogix to Sell EcaFlo
----------------------------------------------------------
Integrated Environmental Technologies, Ltd., announced:

   * a change in strategic focus from selling capital equipment to
     selling consumable products;

   * the establishment of a new Utah production facility, which is
     the first in a planned network of nationwide facilities to
     produce and distribute EcaFlo solutions;

   * the engagement of a sales management organization to
     organize, build and manage a network of independent sales
     representatives to directly sell EcaFlo solutions to
     commercial and industrial customers; and

   * the receipt of initial purchase orders for EcaFlo solutions,
     the delivery of which are scheduled to begin later this
     month.

The Company's adoption of the new sales and marketing strategy
focuses on the sale of EcaFlo solutions directly to industrial and
commercial users.  While the Company will continue to lease EcaFlo
equipment to certain customers, its primary focus will be on the
sale of EcaFlo solutions to the hospital, janitorial and
sanitation and food processing markets.

The Company intends to establish several manufacturing sites
located throughout the United States where the EcaFlo solutions
will be produced using the Company's proprietary EcaFlo equipment.
The Company currently manufactures EcaFlo solutions in Little
River, South Carolina and has established manufacturing
capabilities in Salt Lake City, Utah.

In connection with this strategy, the Company has engaged
TrueLogix, LLC, to provide sales management services to the
Company and to develop a national sales network.  TrueLogix's
principals have over 50 years of domestic and international
experience in the sales and marketing of various household goods
and janitorial and sanitation products and in establishing and
managing independent sales representative networks.  The Company
and TrueLogix have recruited several independent sales
representatives and are in the process of finalizing the contracts
with the respective sales representatives.  In addition, the
Company has secured its first purchase orders from customers for
EcaFlo solutions.

The Company is required to pay TrueLogix a monthly service fee
that is contingent upon the amount of commissionable sales
generated during a given month, as defined in the Agreement.  In
addition, the Company issued warrants to purchase an aggregate of
2,000,000 shares of the Company's common stock to TrueLogix and
certain of its principals.

David R. LaVance, Chairman, President and Chief Executive Officer
of Integrated, commented, "Over the past several months, our
management team has extensively reviewed the Company's products
and market opportunities.  In our discussions with potential
customers, we were repeatedly told that they would prefer to buy
our EcaFlo solutions rather than make a capital investment in the
EcaFlo equipment.  It became evident that, while our EcaFlo
equipment is a high quality product, the biggest opportunity for
the Company is in the distribution and sale of our EcaFlo
solutions.  We believe there is a substantial market opportunity
for our environmentally friendly disinfectant, EcaFlo Anolyte,
which destroys superbugs and other harmful bacteria and viruses
without toxic residue, in the hospital, janitorial, sanitation and
food processing markets.  We are excited about our relationship
with TrueLogix and believe their sales and marketing experience
will be a great asset to the Company as we implement our new sales
and marketing strategy."

Howard B. Gee, a principal of TrueLogix, observed "Based on my
conversations with several potential customers, I believe there is
a tremendous market opportunity for EcaFlo Anolyte, which we
believe is an effective, non-toxic and cost competitive
alternative to bleach and other disinfecting solutions.  In a time
when the public wants greener, effective disinfectants, we see
EcaFlo Anolyte having significant market appeal.  We believe that
Integrated's proprietary EcaFlo equipment provides a distinct
advantage because it can produce solutions in a reliable and
consistent manner."

The Company continues to work with Benchmark Performance Group,
Inc., and Benchmark's affiliate, Red Oak Water Transfer, Inc.,
both wholly-owned subsidiaries of Rockwater Energy Solutions,
Inc., on the deployment of EcaFlo Anolyte in the water transfer
operations supporting hydraulic fracturing of oil and gas.  EcaFlo
Anolyte is EPA-registered for oil and gas applications and can be
used as a biocide to treat produced, make-up and flow-back water
associated with hydraulic fracturing of oil and gas.  Mr. LaVance
commented "We believe that introducing EcaFlo Anolyte into the
water delivery process for oil and gas sites is a cost effective
way for production companies to deliver an effective biocide that
will kill the various bacteria that create significant problems in
the hydraulic fracturing and production process.  With all of the
recent concerns about the potential environmental impact of the
various chemicals used in hydraulic fracturing, we believe that
EcaFlo Anolyte provides a compelling alternative to traditional
biocides and that a large market opportunity exists."

                  About Integrated Environmental

Little River, S.C.-based Integrated Environmental Technologies,
Ltd., through its wholly-owned subsidiary I.E.T., Inc., designs,
manufactures, and sells EcaFlo(R) equipment, which utilizes the
Electro-Chemical Activation process to generate environmentally
responsible EcaFlo(R) solutions - anolyte and catholyte - for use
in managing and controlling bacteria, fungi, viruses and other
unwanted microorganisms in an effective and economically
beneficial manner over a variety of commercial and industrial
applications.

The Company's balance sheet at June 30, 2010, showed $1,293,820 in
total assets, $988,674 in total current liabilities, and $305,146
in stockholders' equity.

Following the Company's annual results for 2009, Weaver & Martin
LLC, in Kansas City, Mo., expressed substantial doubt about the
Company's ability to continue as a going concern.  The independent
auditors noted that the Company's ability to continue as a going
concern is dependent upon obtaining additional sources of capital
or borrowings.

In the Form 10-Q, the Company acknowledges that as a result of its
deficiency in working capital at December 31, 2009 and June 30,
2010, its auditors expressed substantial doubt about its ability
to continue as a going concern.  The Company says its ability to
continue as a going concern is dependent upon attaining profitable
operations.


INT'L ENVIRONMENTAL: Wants Case Reopened to Accept Sale Offer
-------------------------------------------------------------
International Environmental Solutions Corporation asks the U.S.
Bankruptcy Court for the Central District of California to reopen
the Chapter 11 case, and allow it to cure the defect and file the
List of Equity Security Holders.

On Dec. 1, 2011, the Court dismissed the Debtor's case without the
180 day restriction, to the behest of shareholder Steven Thompson.
Mr. Thompson has asked that the Court dismiss and expunge, nullify
and void the Bankruptcy Case explaining that the sale of a
valuable equipment "The Crown Jewels" would be detrimental to the
Debtor.

The Debtor relates that it filed these motions on Nov. 18, 2011:

   1. motion to sell 40-TPD unit and related equipment and 125-
TPD; sell 8-TPD unit; to authorize to accept a back up offer; to
authorize the Debtor or the buyer to remove the equipment under
reasonable business conditions;

   2. motion to reject the lease to sale and security agreement
with Green Gas, LLC, as an executory contract; remove the Debtor's
40-TOD unit and related equipment from The Green Gas, LLC Facility
under reasonable business conditions; and

   3. motion for order limiting scope of notice.

The hearing on the motions was set for Dec. 13.

The Debtor explains that it has received an offer to purchase its
assets for several million dollars on the condition that the sale
close by the end of the year.

Moreover, according to the Debtor, to require it to refile the
case and refile its motions will cause a substantial hardships to
the Debtor and other parties-in-interest.

The Debtor promised that if the motion is granted it will file a
List of Equity Security Holders

           About International Environmental Solutions

Menifee, California-based International Environmental Solutions,
filed for Chapter 11 bankruptcy (Bankr. C.D. Calif. Case No. 11-
44755) on Nov. 11, 2011.  Judge Wayne E. Johnson presides over the
case.  Howard S. Levine, Esq. -- howard@cypressllp.com -- at
Cypress LLP, serves as the Debtor's counsel.  The Debtors
disclosed $28,128,636 in assets and $11,173,895  in liabilities.
The petition was signed by Gary Allen, president.


JAMES RIVER: Wellington Management Discloses 1.3% Equity Stake
--------------------------------------------------------------
In an amended Schedule 13G filing with the U.S. Securities and
Exchange Commission, Wellington Management Company, LLP, disclosed
that, as of Nov. 30, 2011, it beneficially owns 476,638 shares of
common stock of James River Coal Company representing 1.34% of the
shares outstanding.  As previously reported by the TCR on
April 13, 2011, Wellington Management disclosed beneficial
ownership of 3,919,238 shares of common stock or 11.32% equity
stake.  A full-text copy of the amended Schedule 13G is available
for free at http://is.gd/NRru7e

                        About James River

Headquartered in Richmond, Virginia, James River Coal Company
(NasdaqGM: JRCC) -- http://www.jamesrivercoal.com/-- mines,
processes and sells bituminous steam and industrial-grade coal
primarily to electric utility companies and industrial customers.
The company's mining operations are managed through six operating
subsidiaries located throughout eastern Kentucky and in southern
Indiana.

The Company's balance sheet at Sept. 30, 2011, showed
$1.38 billion in total assets, $929.56 million in total
liabilities, and $451.26 million in total shareholders' equity.

                           *     *     *

James River carries a 'B' corporate credit rating from Standard &
Poor's Ratings Services, and 'B3' corporate family rating from
Moody's Investors Service.

As reported by the TCR on March 25, 2011, Moody's Investors
Service upgraded James River Coal Company's Corporate Family
Rating to 'B3' from 'Caa2'.  The rating upgrade reflects post-
acquisition potential for significant increase in JRCC's
metallurgical coal production, increase in operational diversity
within Central Appalachia, and greater access to export markets.

The S&P corporate rating was upgraded from 'B-' in March 2011.
"The upgrade reflects S&P's view that the IRP acquisition provides
James River Coal exposure to the attractive metallurgical coal
market," said Standard & Poor's credit analyst Fred Ferraro.  "The
acquisition also adds management experience in overseas marketing,
and expands the company's reserve life.  Furthermore, S&P expects
that it will be funded in a way that is consistent with the
current capital structure so as to maintain the current credit
metrics."


JAMESON INNS: Section 341(a) Meeting Continued to Jan. 12
---------------------------------------------------------
The U.S. Trustee for Region 3 will continue a meeting of creditors
of JER/Jameson MEZZ Borrower II, LLC, et. al., on Jan. 12, 2012,
at 1:00 p.m.  The meeting will be held at U. S. Federal Bldg.; 844
King Street, Room 5209, Wilmington, Delaware.  The meeting was
originally set on Dec. 6, 2011.

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 Jameson Inns

Founded in 1987, Jameson is a chain of 103 small, budget hotels
operating under the Jameson brand in the Southeast and Midwest.
The Jameson properties are operated under the names Jameson Inn
and Signature Inn.  The hotels are based in Smyrna, Georgia.

The chain was taken private in a 2006 buyout by JER Partners, a
unit of real-estate investor J.E. Robert Cos.  JER then put $330
million of debt on the chain to finance the buyout.  At the top of
the list is a $175 million mortgage loan with Wells Fargo Bank NA
serving as special servicer.  There are four tranches of mezzanine
loans, each for $40 million.  The collateral for each of the Mezz
Loans is the equity interest in the entity or entities immediately
below the borrower of each Mezz Loan.  All of the mezzanine loans
matured in August.

JER/Jameson NC Properties LP and JER/Jameson Properties LLC are
borrowers under the loan with Wells Fargo.  The mortgage loan is
secured by mortgages on hotel properties.  The first set of
foreclosure sales were set for Nov. 1, 2011.  The Mortgage
Borrowers have not sought bankruptcy protection.

Colony Capital affiliates, CDCF JIH Funding LLC and ColFin JIH
Funding LLC, hold the first and second mezzanine loans.  The First
Mezz Loan is secured by a pledge of JER/Jameson Mezz Borrower I
LLC's 100% interest in the Mortgage Borrowers.

Prior to the maturity default, the Colony JIH Lenders purchased
the Second Mezz Loan from a previous holder.  The Second Mezz Loan
is secured by a pledge of JER/Jameson Mezz Borrower II's 100%
membership interest in the First Mezz Borrower.

Gramercy Warehouse Funding I LLC and Gramercy Loan Services LLC
hold a controlling participation interest in the Third Mezz and
Fourth Mezz Loans.  JER Investors Trust Inc. holds the remaining
participation interests in the Third Mezz and Fourth Mezz Loans.
JER/Jameson Holdco LLC, an affiliate of the Mortgage Borrowers,
owns the 100% equity interest in the Fourth Mezz Borrower.
Gramercy took over its mezzanine borrower in August.

JER/Jameson Mezz Borrower II LLC filed for Chapter 11 bankruptcy
(Bankr. D. Del. Case No. 11-13338) on Oct. 18, 2011, to prevent
foreclosure by Colony.  The Chapter 11 filing had the effect of
preventing Colony from wiping out Gramercy's interest.

Seven days later, JER/Jameson Mezz Borrower I LLC filed for
bankruptcy (Bankr. D. Del. Case No. 11-13392) on Oct. 25, 2011.

Judge Mary F. Walrath presides over the case.  Laura Davis Jones,
Esq., at Pachulski Stang Ziehl & Jones LLP, serves as counsel to
both Debtors.  Epiq Bankruptcy Solutions, LLC, serves as its
noticing, claims and balloting agent, and Houlihan Lokey
Howard & Zukin Capital Inc. serves as its investment banker.

Each of the Debtors estimated $100 million to $500 million in
assets and $10 million to $50 million in debts.  The petitions
were signed by James L. Gregory, vice president.

Colony specializes in real estate and has roughly $34 billion of
assets under management.  Colony is represented in the case by
Pauline K. Morgan, Esq., John T. Dorsey, Esq., Margaret Whiteman
Greecher, Esq., and Patrick A. Jackson, Esq., at Young Conaway
Stargatt & Taylor LLP; and Lindsee P. Granfield, Esq., Sean A.
O'Neil, Esq., and Jane VanLare, Esq., at Cleary Gottlieb Steen &
Hamilton LLP.


KOREA TECHNOLOGY: Examiner Can Hire Piercy Bowler as Accountants
----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Utah authorized Mark
D. Hashimoto, in his capacity as examiner in the bankruptcy
case of Korea Technology Industry America, Inc., et al., to retain
Piercy Bowler Taylor & Kern as his accountants and financial
advisors.

Piercy Bowler will charge the Debtors for services on an hourly
basis.  The hourly rate of Piercy Bowler's staff accountant, who
will be assisting in the case, is $120 to $270.

                      About Korea Technology

Korea Technology Industry America, Inc., is a subsidiary of Seoul-
based Korea Technology Industry Co. that tried to squeeze crude
oil from Utah's sandy ridges.  Korea Technology Industry America,
Uintah Basin Resources LLC, and Crown Asphalt Ridge L.L.C., filed
separate Chapter 11 bankruptcy petitions (Bankr. D. Utah Case Nos.
11-32259, 11-32261, and 11-32264) on Aug. 22, 2011.  The cases are
jointly administered under KTIA's case.  Steven J. McCardell,
Esq., and Kenneth L. Cannon II, Esq., at Durham Jones & Pinegar,
in Salt Lake City, serve as the Debtors' counsel.  The Debtors
disclosed US$35,246,360 in assets and US$38,751,528 in debts.

Richard A. Wieland, the United States Trustee for Region 19, has
appointed three members to the Official Committee of Unsecured
Creditors.


L.A. DODGERS: Files Amended Schedules of Assets and Liabilities
-------------------------------------------------------------
Los Angeles Dodgers LLC filed amended schedules of assets and
liabilities in the U.S. Bankruptcy Court for the District of
Delaware, disclosing:

Name of Schedule                     Assets         Liabilities
----------------                     ------------   -----------
A. Real Property                         $246,059
B. Personal Property                  $77,717,675
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                      $150,000
E. Creditors Holding
   Unsecured Priority
   Claims                                                $1,000
F. Creditors Holding
   Unsecured Non-priority
   Claims                                             $5,639,487
                                     ------------     ----------
      TOTAL                           $77,963,734     $5,790,487

                    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
Journal.
sought bankruptcy protection, according to The Wall Street

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.


L.A. DODGERS: Win Right to Auction Off Television Rights
--------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the Los Angeles Dodgers came out on top at the end of
a two-day hearing when the U.S. Bankruptcy Judge in Delaware said
that he will allow the team to auction off future television
broadcasting rights.

Fox Entertainment Group Inc. had opposed the request.  Fox's
contract precludes the club from negotiating with anyone else
until November 2012.  Fox's witness said broadcasting rights are
worth $100 million.  According to the Bloomberg report, the judge
said he will issue a written opinion in a day or two.  Fox said it
will appeal.  Fox argued unsuccessfully that soliciting other
offers now is precluded by the so-called right of first
negotiation in the current television contract that continues
through the 2013 season.  The first negotiation right on its face
would prevent the Dodgers from conducting talks with anyone else
until late 2012.  Then, another provision in the Fox contract
would kick in, giving the incumbent a limited right of first
refusal.

The report relates that Fox took the position that soliciting
other bids, even with court authorization, amounts to a breach of
the existing contract that can't be cured even if the Dodgers
eventually drop the idea of selling television rights to someone
else.  The Dodgers' lawyer told the judge yesterday that any
damages won't be "material."

Mr. Rochelle notes that Fox previously scheduled a Dec. 27 hearing
on a motion to dismiss the Dodgers' Chapter 11 case.  The motion
has less chance of success now that the judge is allowing an early
television-rights sale.  At the same Dec. 27 hearing, the team
will seek approval of a settlement with the commissioner of Major
League Baseball which requires selling the club by April 30.

                     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.

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.


LAGUARDIA ASSOCIATES: Hotel Operator Faces Involuntary Bankruptcy
-----------------------------------------------------------------
LaGuardia Associates, L.P., owner and operator of the LaGuardia
Plaza Hotel, formerly known as LaGuardia Crowne Plaza Hotel, has
been placed in involuntary Chapter 11 bankruptcy by three trade
creditors, allegedly holding roughly $171,000 in debt.  The
involuntary petition was filed Dec. 6.

Judge Stephen Raslavich will handle the case, replacing Judge Jean
K. FitzSimon.

C-III Asset Management LLC has filed an emergency motion with the
Court pursuant to 11 U.S.C. Section 543(d) to excuse a receiver
from compliance with Section 543(a)-(b), which requires the
custodian of a debtor's property to turn over that property to the
bankruptcy estate.

ECBM, Landmark Food Corp. and Penn Glass filed an involuntary
Chapter 11 petition (Bankr. E.D. Pa. Case No. 11-19334) against
King of Prussia, Pennsylvania-based LaGuardia Associates L.P. on
Dec. 6, 2011.

The petitioning creditors are represented by:

          Ashely M. Chan, Esq.
          HANGLEY ARONCHICK SEGAL & PUDLIN
          One Logan Square, 27th Floor
          Philadelphia, PA 19103
          Tel: (215) 496-7050
          E-mail: achan@hangley.com

This is the second bankruptcy for LaGuardia Associates.  The
company and its debtor-affiliate, Field Hotel Associates LP,
sought Chapter 11 protection (Bankr. E.D. Pa. Case No. 04-34514)
on Oct. 29, 2004.  Martin J. Weis, Esq., at Dilworth Paxon LLP,
represented the Debtors as counsel in the 2004 case.  Ashely M.
Chan, Esq., and Myron Alvin Bloom, Esq., at Hangley Aronchick
Segal & Pudlin, represented the Official Committee of Unsecured
Creditors.  In its 2004 petition, LaGuardia Associates estimated
assets and debts of $10 million to $50 million.

In March 2007, the Bankruptcy Court confirmed the Third Amended
Chapter 11 Liquidation Plan filed by U.S. Bank National
Association, as successor in interest to SunTrust Bank, for Field
Hotel Associates.  A copy of the Disclosure Statement is available
at http://www.researcharchives.com/bin/download?id=070123221629


LAGUARDIA ASSOCIATES: Court Keen on Collecting Full Filing Fee
--------------------------------------------------------------
The Bankruptcy Court set -- but later cancelled -- a Dec. 22
hearing wherein it would require the creditors that placed
LaGuardia Associates, L.P., in bankruptcy to show cause why the
involuntary Chapter 11 case should not be dismissed for failure to
pay the remaining balance of the filing fee in the amount of $7
due Dec. 6.  The Notice of Hearing to Show Cause was posted on the
case docket Dec. 9, three days after the filing of the petition.
The hearing was cancelled Dec. 12 upon payment of the $7 balance.

The petitioning creditors paid a filing fee of $1,039 when they
filed the petition, according to information on the case docket.

                    About LaGuardia Associates

ECBM, Landmark Food Corp. and Penn Glass filed an involuntary
Chapter 11 petition (Bankr. E.D. Pa. Case No. 11-19334) against
King of Prussia, Pennsylvania-based LaGuardia Associates L.P. on
Dec. 6, 2011.  LaGuardia Associates owns and operates the
LaGuardia Plaza Hotel, formerly known as LaGuardia Crowne Plaza
Hotel.  The petitioning creditors alleged holding roughly $171,000
in debt.  Judge Stephen Raslavich oversees the case, replacing
Judge Jean K. FitzSimon.  The petitioning creditors are
represented by Ashely M. Chan, Esq., at Hangley Aronchick Segal &
Pudlin.

This is the second bankruptcy for LaGuardia Associates.  The
company and its debtor-affiliate, Field Hotel Associates LP,
sought Chapter 11 protection (Bankr. E.D. Pa. Case No. 04-34514)
on Oct. 29, 2004.  Martin J. Weis, Esq., at Dilworth Paxon LLP,
represented the Debtors as counsel in the 2004 case.  Ashely M.
Chan, Esq., and Myron Alvin Bloom, Esq., at Hangley Aronchick
Segal & Pudlin, represented the Official Committee of Unsecured
Creditors.  In its 2004 petition, LaGuardia Associates estimated
assets and debts of $10 million to $50 million.

In March 2007, the Bankruptcy Court confirmed the Third Amended
Chapter 11 Liquidation Plan filed by U.S. Bank National
Association, as successor in interest to SunTrust Bank, for Field
Hotel Associates.  A copy of the Disclosure Statement is available
at http://www.researcharchives.com/bin/download?id=070123221629


LA VILLITA: Plan to Pay Unsec. Creditors Over 3-Year Period
-----------------------------------------------------------
On Nov. 18, 2011, United States Chief Bankruptcy Judge
conditionally approved the disclosure statement explaining La
Villita Motor Inns, J.V.'s proposed Plan of Reorganization.

The Plan proposes to pay the Lender in accordance with the Loan
Modification Agreement.  The Plan proposes to pay the holders of
General Unsecured Claims over a period of not more than three (3)
years from the Effective Date.

All Cash necessary for the Reorganized Debtor to make payments
pursuant to the Plan will be obtained from the Debtor's existing
Cash Balances, the Subordinated Loan and the operations of the
Debtor or Reorganized Debtor.

The Plan contemplates that the Tranche A Loan due to the Lender
will mature on Jan. 1, 2015.  The Debtor intends to refinance the
Tranche A Loan on or before such date.

Equity Interests will retain their Equity Interests in the Debtor
as they existed on the Petition Date.  On or before the Effective
Date, the holder of Equity Interests will provide the Subordinated
Loan which will be used to pay down the Tranche A Loan and pay to
ORIX the Loan Modification Fee (as defined in the Term Sheet).

Insider Claims will be converted to equity on the Effective Date
in full and final satisfaction, discharge, and release of the
Insider Claims.

                      Classification Summary

The Plan segregates the various Claims against the Debtor and
Interests in the Debtor into 5 Classes:

   Class 1. Priority Secured Tax Claims
   Class 2. Lender Secured Claim
   Class 3. General Unsecured Claims
   Class 4. Insider Claims
   Class 5. Equity Interests

In this case, only holders of Claims in Classes 2, 3 and 4 are
impaired, or possibly impaired, by the Plan and entitled to vote
to accept or reject the Plan.  Claims in Classes 1 and 5 are
unimpaired by the Plan, and the holders thereof are conclusively
presumed to have accepted the Plan.

General Unsecured Claims will receive 100% of their total Allowed
Class 3 Claim which will be paid in equal monthly installments
commencing on the later to occur of the first day of the month
following 30 days after the Effective Date, and continuing on the
same day of each successive month thereafter, until paid in full.
The Debtor believes that there is at most $95,212 in valid General
Unsecured Claims, although proofs of claim for General Unsecured
Claims totaling $306,901 have been filed in the Debtor's case.

On or before the Effective Date, the Fixed Rate Note to the Lender
will be amended and restated pursuant to that certain loan
modification agreement (the "Loan Modification Agreement") which,
among other things, bifurcates the Note into two loan tranches --
the Tranche A Loan $[8,183,81] and the Tranche B Loan
$[1,436,318].

The Tranche A Loan and the Tranche B Loan will be payable pursuant
to the terms set forth in the Note, as modified by the Loan
Modification Agreement, and have a Maturity Date of Jan. 1, 2015.

In the event all outstanding amounts under the Tranche A Loan are
paid in full on or before the Maturity Date, then the outstanding
amounts under the Tranche B Loan will be deemed discharged and
released.

A copy of the Amended Disclosure statement for Debtor's First
Amended Plan of Reorganization is available for free at:

          http://bankrupt.com/misc/lavillita.dkt188.pdf

                  About La Villita Motor Inns JV

San Antonio, Texas-based La Villita Motor Inns JV is a joint
venture, formed on or about April 14, 1980, that owns and operates
a hotel located at 100 La Villita in San Antonio, Texas, known as
the Riverwalk Plaza Hotel.  It filed for Chapter 11 bankruptcy
protection (Bankr. Case No. 10-54864) on Dec. 17, 2010.  The
Debtor estimated assets at $10 million to $50 million and debts at
$1 million to $10 million.

The Debtor's original bankruptcy counsel was Oppenheimer, Blend,
Harrison & Tate, Inc. that subsequently merged with Strasburger &
Price, L.L.P.  ORIX filed a motion seeking to disqualify Debtor?s
counsel following the merger and the Bankruptcy Court granted
ORIX's motion by order entered on Sept. 29, 2011.  Hohmann, Taube
& Summers, L.L.P., replaced OBHT as counsel.


LEE ENTERPRISES: Hires Garden City Group as Noticing Agent
----------------------------------------------------------
Lee Enterprises Inc. and its debtor-affiliates seek Bankruptcy
Court permission to hire The Garden City Group Inc. as its
noticing and balloting agent.  The Debtors need GCG to assist,
among others, with balloting in connection with the prepackaged
Chapter 11 plan filed together with the petition.

Prior to commencing its chapter 11 cases, the Company solicited
and obtained acceptances from its lenders and noteholders in favor
of the Amended Joint Prepackaged Plan of Reorganization, dated
Dec. 2, 2011. The Company will be seeking the Bankruptcy Court's
approval to conduct a hearing on or about Jan. 23, 2012 to, among
other things, confirm the Plan.

On Nov. 7, the Debtors commenced solicitation of Plan votes from
holders of claims under the Debtors' prepetition credit agreement.
On Dec. 3, the Debtors solicited votes from holders of claims
under the so-called Pulitzer Notes.  The solicitation concluded
Dec. 9.  As of the voting deadline, 100% of the holders of
Prepetition Credit Agreement Claims, totaling $827.9 million, had
voted to accept the Plan, and 100% of the Holders of Pulitzer
Notes, holding $133.8 million of claims, accepted the Plan.

In total, the plan deals with $1 billion of debt that otherwise
would mature in April.  Lee Enterprises expects to emerge from
bankruptcy within 60 days.

The Debtors have made advance payments to GCG of $80,000 pre-
bankruptcy.

GCG's Emily S. Gottlieb attests that her firm does not have nay
connections with the Debtors, their creditors, or any other party
in interest in the case, and is a "disinterested person" as that
term is defined in Section 101(14) of the Bankruptcy Code.

                       About Lee Enterprises

Lee Enterprises, Inc., headquartered in Davenport, Iowa, publishes
the St. Louis Post Dispatch and the Arizona Daily Star along with
more than 40 other daily newspapers and about 300 weekly
newspapers and specialty publications in 23 states.  Revenue for
the 12 months ended December 2010 was $780 million.  The Company
has 6,200 employees, with 4,650 working full-time.

The Company's balance sheet at Sept. 25, 2011, showed $1.2 billion
in total assets and $1.3 billion in total liabilities.  Operating
loss was $103.3 million for fiscal year ended Sept. 25, 2011, on
revenue of $756.1 million.

Lee Enterprises and certain of its affiliates filed for chapter 11
(Bankr. D. Del. Lead Case No. 11-13918) on Dec. 12, 2011.
Attorneys at Sidley Austin LLP and Young Conaway Stargatt &
Taylor, LLP, serve as counsel to the Debtors.


LEE ENTERPRISES: Can Keep Spending as it Races to Exit Ch. 11
-------------------------------------------------------------
Dow Jones' Daily Bankruptcy Review reports that Lee Enterprises
Inc. won court permission to keep paying its bills as it speeds
toward a refinancing of nearly $1 billion in debt.

                       About Lee Enterprises

Lee Enterprises, Inc., headquartered in Davenport, Iowa, publishes
the St. Louis Post Dispatch and the Arizona Daily Star along with
more than 40 other daily newspapers and about 300 weekly
newspapers and specialty publications in 23 states.  Revenue for
the 12 months ended December 2010 was $780 million.  The Company
has 6,200 employees, with 4,650 working full-time.

The Company's balance sheet at Sept. 25, 2011, showed $1.2 billion
in total assets and $1.3 billion in total liabilities.  Operating
loss was $103.3 million for fiscal year ended Sept. 25, 2011, on
revenue of $756.1 million.

Lee Enterprises and certain of its affiliates filed for chapter 11
(Bankr. D. Del. Lead Case No. 11-13918) on Dec. 12, 2011.
Attorneys at Sidley Austin LLP and Young Conaway Stargatt &
Taylor, LLP, serve as counsel to the Debtors.


LENOX 126: Will Seek Confirmation of Plan at Dec. 20 Hearing
------------------------------------------------------------
Lenox 126 Realty LLC has filed a Third Amended Disclosure
Statement in support of its Plan of Reorganization that provides
for the sale of the Debtor's real property located at 101 West
126th Street, a/k/a 321 Lenox Avenue, New York, New York.

Effective Date Plan payments, including payment of administration
claims, will be made from the proceeds of the sale of the
Property.  Under the Plan, the Mortgagee has agreed to cause
$250,000 of the sale proceeds that would otherwise be paid towards
satisfaction of its Secured Claim to be distributed to general
unsecured creditors under the Plan, and has agreed to waive its
right to any distribution as an unsecured creditor in order to
enhance distributions to the other general unsecured creditors.

This Disclosure Statement was approved by the bankruptcy court on
Nov. 10, 2011.

The Court has fixed Dec. 13, 2011, as the deadline for the
submission of votes to accept or reject the Plan.  The Debtor will
seek approval of the Plan at a confirmation hearing on Dec. 20,
2011, at 2:00 p.m.  Objections to confirmation of the Plan must be
filed no later than Dec. 13, 2011.

Griffon Heights LLC Class 2 Claim totals approximately $11,826,049
as of the Filing Date.

Treatment: Payment of available cash up to Allowed Amount of Class
2 Claim, after payment of administration claims, Class 1 Claims,
Class 3 Claims, and $250,000 to be allocated to Class 4 payments.

General Unsecured Claims Claims in Class 4 total approximately
$6,327,449.  Claims include (a) Griffon Heights LLC $3,142,449
mortgage deficiency claim, (b) 31 Rockaway LLC $2,500,000 unpaid
note, (c) insider claims of Calabrese Investors LLC in the
amount of $600,000 and Lorenzo Deluca, Esq. in the amount of
$45,000 and (d) various vendor claims in the amount of
approximately $40,000.

Treatment: Each Holder of a General Unsecured Claim will be paid
its pro-rata share of a (a) $250,000 minimum distribution fund to
be carved out from the Mortgagee's distribution as a Class 2
Claimant, and (b) its pro-rata share of litigation proceeds in
connection with the prosecution of claims against third parties.

Equity Interests in Class 5 will be paid such amount as may be
available, if any, after payment of all senior classes of Claims
under the Plan.  The Debtor estimates no distribution to Equity
Interests.

A copy of the third amended disclosure statement is available for
free at http://bankrupt.com/misc/lenox126.3rdamendedDS.pdf

                      About Lenox 126 Realty

Lenox 126 Realty LLC owns a parcel of real property located at 101
West 126th Street, a/k/a 321 Lenox Avenue, New York, New York.
The Property is a 6 story apartment building with 32 residential
units, 2 commercial units, and 2 cell towers.

The Company filed for Chapter 11 protection (Bankr. S.D.N.Y. Case
No. 11-12275) on May 12, 2011.  Mark Frankel, Esq., at Backenroth
Frankel & Krinsky, LLP, in New York, represents the Debtor as
counsel.

In its schedules, Lenox 126 Realty disclosed $10,377,689 in assets
and $14,718,905 in liabilities as of Chapter 11 filing.  Judge
Sean H. Lane presides over the case.

No committee has been appointed to date in this case.


MAIN AERIAL: Case Summary & 18 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Main Aerial Photography, Inc.
        2432 West Peoria Avenue, Suite # 1345
        Phoenix, AZ 85029

Bankruptcy Case No.: 11-33518

Chapter 11 Petition Date: December 8, 2011

Court: United States Bankruptcy Court
       District of Arizona (Phoenix)

Judge: Sarah Sharer Curley

Debtor's Counsel: Charles M. Leftwich, Esq.
                  LEFTWICH & ASSOCIATES, PLLC
                  3816 North 7th Street
                  Phoenix, AZ 85014
                  Tel: (602) 266-8080
                  Fax: (602) 266-8097
                  E-mail: charles.leftwich@gmail.com

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

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

A list of the Company's 18 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/azb11-33518.pdf

The petition was signed by James Douglas Main, owner.


MAJESTIC CAPITAL: Plan Contemplates Orderly Wind-Down of Debtors
----------------------------------------------------------------
Majestic Capital, Ltd., et al., have submitted a proposed
disclosure statement with respect to the Debtors' Joint Plan of
Liquidation dated Nov. 18, 2011, that is designed to facilitate
the orderly wind=down of the Debtors and their two non-debtor
insurance company affiliates.

The wind-down will be implemented by the establishment of 6
Liquidating Trusts (one for each of the six jointly administered
Debtors), and the appointment of a Liquidating Trustee to, among
other things, liquidate the Assets of each Liquidating Trust,
resolve disputed claims, and distribute funds to Allowed Claim
Holders.

The Debtors believe that the wind-down may take several years to
finalize, partly because of the numerous disputed and unliquidated
claims asserted against the Debtors.  Approximately 2,300 proofs
of claim have been filed against the Debtors, asserting claims in
an aggregate nominal amount of more than $1 billion.  Many of
these claims are duplicative or derivative, and appear to be
substantially overstated, according to Majestic Capital.

All Classes except Class 1 (Priority Claims) and Class 4
(Interests) are impaired and may vote on the Plan.

Classes 1 and 4 are deemed to have accepted the Plan.  Priority
Claims in Class 1 will be paid in full from any Net Liquidating
Trust Proceeds upon the later of the Effective Date or the date
that the Claim becomes an Allowed Claim.  Class 4 Interests will
retain their Interests under the Plan, provided that the Class 4
Interests will not receive any distribution unless and until
Allowed Class 3 Claims are paid in full.

Class 2 consists of all Allowed Secured Claims against the
Debtors.  The Holders of Class 2 Claims will receive, at the sole
option of the Liquidating Trustee, one of the following:

(a) the return of the Collateral securing the Secured Claim;
(b) Payment of the net proceeds from the liquidation of the
    collateral securing the Allowed Secured Claim, after deduction
    for costs of sale;
(c) The reinstatement of the debt constituting the Secured Claim
    in accordance with Section 1124(2) of the Bankruptcy Code;
(d) Treatment as is agreed upon in writing between the Liquidating
    Trustee and the Holder of the Secured Claim;
(e) Treatment as determined by the Bankruptcy Court.

Class 3 consists of all Allowed Non-priority Unsecured Claims
against the Debtors.  Each Holder of an Allowed Class 3 Claim will
receive its Pro Rata share of the Net Liquidating Trust Proceeds
of the Liquidating Trust of the respective Debtor against which it
holds an Allowed Claim, after reduction for the Distribution
Reserve.  The initial distribution date will be made on the
Distribution Date or such other date as the Liquidating Trustee
will determine.  Subsequent distributions will be made to the
extent funds become available in accordance with the Plan and the
applicable Liquidating Trust Agreement.

A copy of the proposed disclosure statement, dated as of Nov. 18,
2011, is available for free at:

       http://bankrupt.com/misc/majesticcapital.dkt184.pdf

                      About Majestic Capital

Headquartered in Poughkeepsie, New York City, Majestic Capital,
Ltd., formerly known as CRM Holdings Ltd., has two wholly owned
subsidiaries, Majestic USA and Twin Bridges, a Bermuda-based
reinsurance company.  Twin Bridges and Majestic Insurance, a
downstream subsidiary of Majestic USA are the two principal
insurance companies.

The Company filed for Chapter 11 protection (Bankr. S.D.N.Y. Case
No. 11-36225) on April 29, 2011.

Affiliates also sought Chapter 11 protection (Bankr. S.D.N.Y. Case
Nos. 11-36221 - 11-36234) on April 29, 2011.   The Debtors
retained Murphy & King, P.C. ("M&K") as their general bankruptcy
counsel and Genova & Malin ("G&M") as their local counsel.  The
Debtors tapped Michelman & Robinson, LLP, as special counsel, and
Day Seckler, LLP, as accountants and financial advisors.  The
Debtor disclosed $436,191,000 in assets and $421,757,000 in
liabilities as of Dec. 31, 2010.

Bruce F. Smith, Esq., and Steven C. Reingold, Esq., at Jager Smith
P.C., represent the Official Committee of Unsecured Creditors.
The Committee has also tapped J.H. Cohn LLP as its financial
advisors.


MARKWEST ENERGY: Fitch Says Stake Acquisition Won't Affect Rating
-----------------------------------------------------------------
Fitch Ratings anticipates that MarkWest Energy Partners, L.P.'s
(MarkWest) announced acquisition of the remaining stake in
MarkWest Liberty Midstream & Resources, LLC (Liberty) will not
impact the company's current ratings.  Under the proposed
transaction, MarkWest will acquire the remaining 49% stake in the
project which is currently owned by The Energy & Minerals Group
(EMG).  MarkWest will pay EMG $1 billion in cash and issue 19.95
million class B shares for the transaction.

The Liberty joint venture (JV) began in 2009 and provides
midstream services in the Marcellus.  Significant production
growth has increased volumes for Liberty.  Midstream
infrastructure will continue to expand to meet growing demand.

Transaction Financing: Fitch views the transaction financing as
favorable from a credit perspective.  In addition to paying $1
billion of cash, MarkWest is paying with class B units which will
not receive distributions until converted to common units on a
one-for-one basis.  Beginning July 1, 2013, 20% of the class B
units convert per year.  Fitch believes the timing of the
conversions will match with expected increases in distributable
cash flows (DCF) which will benefit the coverage ratio.

MarkWest is currently offering 8 million common units plus an
overallotment of 1.2 million units.  Net proceeds will bring
additional cash to MarkWest's balance sheet.  Fitch expects the
company to use cash and available capacity on the bank facility
for $1 billion cash component of the transaction financing.

Fixed Fee Contracts: The 100% ownership of Liberty will increase
MarkWest's fixed fee cash flows.  At the end of the third quarter
of 2011, 38% of contracts were fixed fee and in 2012 the company
expects those contracts to increase to 45% to 50%.  The increase
of fixed fee contracts is favorably viewed from a credit
perspective.

New Joint Venture: MarkWest also plans to form a new JV with EMG
to build operations in the Utica.  Details of the planned JV are
expected in January 2012 and Fitch anticipates that planned
capital expenditures will increase from current forecasts as a
result.

Capital Expenditures: Excluding $230 million for the Langley
acquisition, MarkWest forecasts capital expenditures in the range
of $445 million to $470 million in spending in 2011.  The revised
2012 forecast is $900 million to $1.3 billion, up from the $600
million to $700 million.  The increase is largely attributed to
100% interest in Liberty.  The Utica JV spending is not included
in the revised 2012 estimate.  Fitch anticipates debt and equity
will be raised to help fund the projects.

Leverage: At the end of the third quarter of 2011, debt to
adjusted EBITDA was 3.6 times (x).  Adjusted for the November 2011
$700 million debt offering which refinanced $330 million of
maturing bonds, it was 4.5x on a pro forma basis.  Fitch
anticipates that leverage should fall below 4.0x by the end of
2012.  MarkWest's financing strategy for the large capital
expenditure program may ultimately result in leverage which
differs from Fitch's expectations.

Hedging: The company uses a proxy hedging strategy which is
exposed to a periodic breakdown in the correlation between crude
oil and natural gas liquids (NGL) prices.  At the end of the third
quarter 2011, 70% of its contracts were hedged for 2012,
approximately 50% for 2013, and 20% for 2014.

As of the end of the third quarter 2011, the hedging program
reduced the latest 12 months (LTM) net operating margin exposed to
commodity prices to 25% while 33% was from hedged positions and
42% of net operating margin was from fee based contracts.  Fitch
expects to see MarkWest continue to manage commodity exposure by
rolling in new hedges.


Fitch currently rates MarkWest as follows:

  -- Long-term Issuer Default Rating (IDR), 'BB';
  -- Senior secured revolving credit facility, 'BB+';
  -- Senior unsecured debt, 'BB'


MERIT GROUP: Will Seek Approval of Liquidating Plan Tomorrow
------------------------------------------------------------
The U.S. Bankruptcy Court for the District of South Carolina has
approved the disclosure statement accompanying the Joint Amended
Chapter 11 Plan of Liquidation of The Merit Group Inc., et al.,
and the Official Committee of Unsecured Creditors, dated Nov. 1,
2011.

The Confirmation will be held on Dec. 16, 2011, at 9:30 a.m.

Substantially all of the assets of the Debtors were sold to MG
Distribution, LLC, in July 2011.  The proceeds from the Sale and
the proceeds from the prosecution of certain Causes of Action are
the sources of funding for distributions under the Plan.

The Regions Bank Settlement provides that $5.75 million would be
made available to the Debtors' Estates to administer a plan and
make distributions to creditors in accordance with the Bankruptcy
Code.  The Bankruptcy Court approved the Regions Bank Settlement
as part of the Sale Order.

Under the Plan, holders of Priority Tax Claims and Non-Tax
Priority Claims will be paid in full.  Holders of Secured Claims
will be paid in full or receive the collateral securing their
claim.  Holders of Convenience Claims will receive 10% of the
amount of such holder's Allowed Convenience Claim.

Under the Plan, holders of Allowed Senior Unsecured Claims
(Excluding Convenience Claims) will receive pro rata distributions
of the proceeds from the Sale after payment of or reserve for
Administrative Claims, Priority Tax Claims, Non-Tax Priority
Claims, Secured Claims, Convenience Claims, and Plan Expenses.
Pursuant to the Regions Bank Settlement, Regions Bank is not
entitled to receive any further distribution after Closing as a
holder of an Administrative Claim or Secured Claim but, instead,
will share in the Plan distributions with other general, non-
priority unsecured claims.

Under the Plan and Regions Bank Settlement, Regions Bank will
receive an initial distribution (on account of the Allowed Regions
Deficiency Claim and the aggregate claims of the Subordinated
Creditors-i.e., Stonehenge Opportunity Fund II, L.P., E. Fort
Wolfe, Jr., Caleb C. Fort and Valspar Corporation) only after
Distributions aggregating 10% of the principal amount of all Class
3 (Convenience Claims) and Class 4 (Senior Unsecured Claims) have
been made.  Thereafter, Regions Bank will receive a true-up of its
Subordinated Distribution and then may participate in future
Distributions to Claims in Class 4 on a Pro Rata basis.  If
Regions Bank is paid in full on account of its Regions Deficiency
Claim then the Subordinated Creditors will be authorized to
participate in future Distributions to Claims in Class 4 on a Pro
Rata basis based upon the relative amount of all Senior Unsecured
Claims in Class 4 and the Subordinated Claims at the time of each
such Distribution and subsequent distributions to Subordinated
Creditors will be made directly to each Subordinated Creditor.

No distributions are anticipated to be made on account of
Interests under the Plan.

                      Classification Summary

The Plan segregates the various claims against the Debtors and
Interests into six (6) classes:

Class 1: Secured Claims      Unimpaired. Holders of Class 1 Claims
                             are deemed to accept the Plan.

Class 2: Non-Tax Priority    Unimpaired. Holders of Class 2 Claims
         Claims              are deemed to accept the Plan.

Class 3: Convenience Claims  Impaired. Holders of Class 3 Claims
                             are entitled to vote to accept or
                             reject the Plan.

Class 4: Senior Unsecured    Impaired. Holders of Class 4 Claims
         Claims              are entitled to vote to accept or
                             reject the Plan.

Class 5: Regions Deficiency  Impaired. Holders of Class 5 Claims
         Claim and           are entitled to vote to accept or
         Subordinated        reject the Plan.
         Claims

Class 6: Interests           Impaired. Holders of Class 6
                             Interests are entitled to vote to
                             accept or reject the Plan.

A copy of the disclosure statement accompanying the Joint Amended
Chapter 11 Plan of Liquidation of the Debtors and the Official
Committee of Unsecured Creditors, dated Nov. 1, 2011, is available
for free at http://bankrupt.com/misc/meritgroup.dkt571.pdf

                      About The Merit Group

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

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

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

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

On July 29, 2011, the Debtors consummated the sale of
substantially all of their assets to MG Distribution, LLC.  The
Merit Group changed its name to TMG Liquidation Company following
the sale.  MG Distribution LLC bought the business for
$44 million.


MIRAMAR REAL ESTATE: C. Agosto and FVP & Galindez OK'd as Auditors
------------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Puerto Rico
authorized Miramar Real Estate Management Inc. to employ FPV &
Galindez, CPAs, PSC, and its principal, Marcos A. Claudio Agosto,
as its external auditors and restructuring advisors.

The Debtor asserts that services are required in its
reorganization process in the areas of Plan Development,
Liquidation Analysis, Claims Administration, Feasibility,
Negotiations, Investment, Financing and other matters.

Miramar wishes to retain Mr. Agosto and FPV as its external
auditors and insolvency and restructuring advisors, in the
exercise of their powers and duties, on all financial matters
pertaining to the reorganization in its Chapter 11 proceedings.

FPV has served as external auditors for the Debtor and Debtor's
stockholder since Dec. 31, 2005.

Mr. Agosto assures the Court that his firm is a disinterested
party within the meaning of Sections 101(3) and 327 of the
Bankruptcy Code.

San Juan, Puerto Rico-based Miramar Real Estate Management Inc.
filed for Chapter 11 bankruptcy protection (Bankr. D. P.R. Case
No. 11-01786) on March 2, 2011.  Fausto D. Godreau Zayas, Esq., at
Latimer, Biaggi, Rachid & Godreau, LLP, serves as the Debtor's
bankruptcy counsel.  The Debtor estimated its assets and debts at
US$100 million to US$500 million.


MULHEARN REALTORS: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Mulhearn Realtors, Inc.
        dba Pridential California Realty
        18000 Studerbaker Road, Suite 205
        Cerritos, CA 90703

Bankruptcy Case No.: 11-59917

Chapter 11 Petition Date: December 7, 2011

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

Judge: Barry Russell

Debtor's Counsel: Mark R. Campbell, Esq.
                  MARK CAMPBELL LAW
                  300 S Harbor Blvd Ste 700
                  Anaheim, CA 92805
                  Tel: (714) 224-0270
                  Fax: (714) 224-0275
                  E-mail: mcampbell@markcampbelllaw.com

Estimated Assets: $50,001 to $100,000

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/cacb11-59917.pdf

The petition was signed by Bruce T. Mulhearn, president.

Affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Bruce T. Mulhearn                      11-59911   12/07/11


NATIONAL ALARM: Case Summary & 4 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: National Alarm Funding Corporation
        915 W. Fotthill Blvd. St. 505
        Claremont, Ca 91711

Bankruptcy Case No.: 11-60037

Chapter 11 Petition Date: December 8, 2011

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

Judge: Ellen Carroll

Debtor's Counsel: Gino Pietro, Esq.
                  PIETRO & ASSOCIATES
                  1605 E. 4th Sy #250
                  Santa Ana, Ca 92701
                  Tel: (714) 542-5004

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/cacb11-60037.pdf

The petition was signed by Leon Draper, vice president.


NBOR CORPORATION: Involuntary Chapter 11 Case Summary
-----------------------------------------------------
Alleged Debtor: NBOR Corporation
                aka Interact Corporation
                c/o Denny Jaeger
                6120 Valley View Road
                Oakland, CA 94611

Case Number: 11-72855

Involuntary Chapter 11 Petition Date: December 9, 2011

Court: Northern District of California (Oakland)

Judge: William J. Lafferty

Petitioner's Counsel: Randy Michelson, Esq.
                      MICHELSON LAW GROUP
                      100 Pine St, #2450
                      San Francisco, CA 94111
                      Tel: (415) 512-8600
                      Fax: (415) 512-8601
                      E-mail:randy.michelson@michelsonlawgroup.com

NBOR Corporation's petitioner:

Petitioner               Nature of Claim        Claim Amount
----------               ---------------        ------------
Mako Strategies, Inc.    consulting services    $200,000
P.O. Box 222980
Carmel, CA 93922


NORTEL NETWORKS: Gets CCAA Extension Until April 13
---------------------------------------------------
Nortel Networks Corporation  said its principal operating
subsidiary Nortel Networks Limited and its other Canadian
subsidiaries that filed for creditor protection under the
Companies' Creditors Arrangement Act (CCAA) have obtained an order
from the Ontario Superior Court of Justice (Canadian Court)
further extending, to April 13, 2012, the stay of proceedings that
was previously granted by the Canadian Court.  The purpose of the
stay of proceedings is to provide stability to the Nortel
companies to continue with the wind down of operations and other
significant work toward the development of a plan of arrangement
under CCAA and conclusion of the creditor protection proceedings.

The materials filed in the CCAA proceedings are available on the
Restructuring Document Centre of Ernst & Young Inc. (the Monitor)
at
http://documentcentre.eycan.com/Pages/Main.aspx?SID=89&Redirect=1
or by contacting the Monitor directly at 1-866-942-7177.

                         Management Changes

In light of the milestones met to date and the focus of the
remaining work, John Doolittle, Senior Vice-President Corporate
Services & Chief Financial Officer, and the Board of Directors,
have jointly determined that it is an appropriate point for Mr
Doolittle to step down from his position and to depart from the
Company on Dec. 16, 2011.  Effective Dec. 17, 2011, Allan Bifield
will assume the role of Senior Vice-President Corporate Services &
Chief Financial Officer of the Company and NNL. Mr Bifield has
been the Chief Financial Officer and Senior Vice-President for the
Nortel Business Services organization since 2010, and previously
held various positions in the Finance organization of the Company
for over 25 years.

                       About Nortel Networks

Nortel Networks (OTC BB: NRTLQ) -- http://www.nortel.com/-- was
once North America's largest communications equipment provider.
It has sold most of the businesses while in bankruptcy.

Nortel Networks Corp., Nortel Networks Inc., and other affiliated
corporations in Canada sought insolvency protection under the
Companies' Creditors Arrangement Act in the Ontario Superior Court
of Justice (Commercial List).  Ernst & Young was appointed to
serve as monitor and foreign representative of the Canadian Nortel
Group.

The Monitor sought recognition of the CCAA Proceedings in the
U.S. by filing a bankruptcy petition under Chapter 15 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10164).  Mary
Caloway,Esq., and Peter James Duhig, Esq., at Buchanan Ingersoll &
Rooney PC, in Wilmington, Delaware, serves as the Chapter 15
petitioner's counsel.

Nortel Networks Inc. and 14 affiliates filed separate Chapter 11
petitions (Bankr. D. Del. Case No. 09-10138) on Jan. 14, 2009.
Judge Kevin Gross presides over the case.  James L. Bromley, Esq.,
at Cleary Gottlieb Steen & Hamilton, LLP, in New York, serves as
general bankruptcy counsel; Derek C. Abbott, Esq., at Morris
Nichols Arsht & Tunnell LLP, in Wilmington, serves as Delaware
counsel.  The Chapter 11 Debtors' other professionals are Lazard
Freres & Co. LLC as financial advisors; and Epiq Bankruptcy
Solutions LLC as claims and notice agent.  Fred S. Hodara, Esq.,
at Akin Gump Strauss Hauer & Feld LLP, in New York, and
Christopher M. Samis, Esq., at Richards, Layton & Finger, P.A., in
Wilmington, Delaware, represent the Official Committee of
Unsecured Creditors.

Certain of Nortel's European subsidiaries also made consequential
filings for creditor protection.  On May 28, 2009, at the request
of the Administrators, the Commercial Court of Versailles, France
ordered the commencement of secondary proceedings in respect of
Nortel Networks S.A.  On June 8, 2009, Nortel Networks UK Limited
filed petitions in this Court for recognition of the English
Proceedings as foreign main proceedings under chapter 15 of the
Bankruptcy Code.

Nortel Networks divested off key assets while in Chapter 11.
Nortel has raised $3.2 billion by selling its operations as it
prepares to wind up a two-year liquidation due to insolvency.

In June 2011, Nortel added US$4.5 billion to its cash pile after
agreeing to sell its remaining patent portfolio to Rockstar Bidco
LP, a consortium consisting of Apple Inc., EMC Corporation,
Telefonaktiebolaget LM Ericsson, Microsoft Corp., Research In
Motion Limited, and Sony Corporation.  The consortium defeated a
$900 million stalking horse bid by Google Inc. at an auction.  The
deal closed in July.

Nortel Networks has filed a proposed plan of liquidation in the
U.S. Bankruptcy Court.  The Plan generally provides for full
payment on secured claims with other distributions going in
accordance with the priorities in bankruptcy law.


NORTON PROPERTY: Case Summary & 4 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Norton Property Management Services LLC
        255 South Leland Norton Way
        San Bernardino, CA 92408

Bankruptcy Case No.: 11-47001

Chapter 11 Petition Date: December 7, 2011

Court: United States Bankruptcy Court
       Central District Of California (Riverside)

Judge: Scott C. Clarkson

Debtor's Counsel: C John M Melissinos, Esq.
                  RUTTER HOBBS & DAVIDOFF INCORPORATED
                  1901 Avenue of the Stars Ste 1700
                  Los Angeles, Ca 90067
                  Tel: (310) 286-1700
                  Fax: (310) 286-1728
                  E-mail: jmelissinos@rutterhobbs.com

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

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

A list of the Company's four largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/cacb11-47001.pdf

The petition was signed by T. Milford Harrison, manager.



ODYSSEY DP: Case Summary & 4 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Odyssey DP III, LLC
        dba Secured Storage
        500 S. Florida Ave., Suite 700
        Lakeland, FL 33801

Bankruptcy Case No.: 11-22314

Chapter 11 Petition Date: December 6, 2011

Court: United States Bankruptcy Court
       Middle District of Florida (Tampa)

Judge: Catherine Peek McEwen

Debtor's Counsel: Edward J. Peterson, III, Esq.
                  STICHTER, RIEDEL, BLAIN & PROSSER, PA
                  110 East Madison Street, Suite 200
                  Tampa, FL 33602
                  Tel: (813) 229-0144
                  Fax: (813) 229-1811
                  E-mail: epeterson@srbp.com

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

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

A copy of the list of four largest unsecured creditors is
available for free at http://bankrupt.com/misc/flmb11-22314.pdf

The petition was signed by Benjamin D.E. Falk, CFO OC DIP, LLC,
manager.

Debtor-affiliates that previously filed separate Chapter 11
petitions include Century/AG-Avondale, LLC, Odyssey Properties
III, LLC, Century (III) DP III, LLC, Odyssey (III) DP III, LLC,
Odyssey (VI) Commercial DP I, LLC, and Odyssey (III) DP IX, LLC.


OXLEY DEVELOPMENT: U.S. Trustee Asks Court to Dismiss Case
----------------------------------------------------------
Donald F. Walton, United States Trustee for Region 21, asks the
U.S. Bankruptcy Court for the Southern District of Georgia to
dismiss the Chapter 11 case of Oxley Development Company, Inc., or
in the alternative convert the case to one under Chapter 7.

The U.S. Trustee stated that the Debtor has not provided certain
information and documents requested by the U.S. Trustee, did not
attend the Initial Debtor Interview scheduled by the U.S. Trustee,
and did not attend the section 341 meeting of creditors scheduled
by the Court, which circumstances constitute cause for conversion
or dismissal pursuant to 11 U.S.C. Sections 1112(b)(4)(C) and (H).

Oxley Development Company, LLC, based in Kingsland, Georgia, filed
for Chapter 11 bankruptcy (Bankr. S.D. Ga. Case No. 11-21338) on
Oct. 31, 2011.  In its petition, the Debtor scheduled assets of
$125,700,000 and debts of $61,289,500.  The petition was signed by
Carl M. Drury, III, managing member.  William S. Orange, III,
Attorney at Law, is the Debtor's Chapter 11 counsel.


OXLEY DEVELOPMENT: Court OKs William Orange III as Bankr. Counsel
-----------------------------------------------------------------
Oxley Development Company LLC obtained permission from the
Bankruptcy Court to employ William S. Orange, III, Attorney at
Law, as its Chapter 11 counsel.

The Debtor has agreed to pay Mr. Orange at a rate of
$300 per hour and has deposited in his trust account $8,961 as
retainer.

Oxley Development Company, LLC, based in Kingsland, Georgia, filed
for Chapter 11 bankruptcy (Bankr. S.D. Ga. Case No. 11-21338) on
Oct. 31, 2011.  In its petition, the Debtor scheduled assets of
$125,700,000 and debts of $61,289,500.  The petition was signed by
Carl M. Drury, III, managing member.  William S. Orange, III,
Attorney at Law, is the Debtor's Chapter 11 counsel.


PARADISE HOSPITALITY: Files Schedules of Assets and Liabilities
---------------------------------------------------------------
Paradise Hospitality, Inc., filed with the U.S. Bankruptcy Court
for the Central District of California its schedules of assets and
liabilities, disclosing:

    Name of Schedule            Assets          Liabilities
    ----------------            -----------     -----------
A. Real Property               $14,000,000
B. Personal Property            $1,628,687
C. Property Claimed as
    Exempt
D. Creditors Holding
    Secured Claims                               $16,511,662
E. Creditors Holding
    Unsecured Priority
    Claims                                          $449,714
F. Creditors Holding
    Unsecured Non-priority
    Claims                                        $4,468,957
                                -----------      -----------
       TOTAL                    $15,628,687      $21,430,333

                    About Paradise Hospitality

Based in Fullerton, California, Paradise Hospitality, Inc., owns a
hotel located in Toledo, Ohio and a retail shopping center in El
Dorado, Arkansas.  The Debtor currently manages and operates the
Hotel.  Haydn Cutler company currently manages the Retail Center.
The Company filed for Chapter 11 bankruptcy (Bankr. C.D. Calif.
Case No. 11-24847) on Oct. 26, 2011, about three weeks after it
lost the right to use the Crowne Plaza for its hotel.  For now,
the hotel has been renamed Plaza Hotel Downtown Toledo.

Judge Erithe A. Smith presides over the case.  Sam S. Oh, Esq. --
sam.oh@limruger.com -- at Lim, Ruger & Kim, LLP, serves as the
Debtor's counsel.  In its petition, the Debtor estimated assts and
debts of $10 million to $50 million.  The petition was signed by
the Debtor's president, Dae In Kim, a Korean businessman who lives
in southern California.


PENINSULA HOSPITAL: U.S. Trustee Wants Ch. 11 Trustee to Take Over
------------------------------------------------------------------
Tracy Hope Davis, the U.S. Trustee for Region 2, asks the U.S.
Bankruptcy Court for the Eastern District of New York for an order
directing the appointment of:

   i) a Chapter 11 Trustee in the bankruptcy cases of Peninsula
   Hospital Center and Peninsula General Nursing Home Corp., or,
   in the alternative,

  ii) an examiner in the cases.

According to the U.S. Trustee, the appointment of an independent
fiduciary is in the interests of creditors and other parties in
interest.  The U.S. Trustee has questioned the possible conflicts
of the Debtors' management and the lack of a viable reorganization
strategy.  Based upon recent disclosures, it is apparent that the
Debtors lack independent leadership, which is preventing the
Debtors from making any meaningful progress towards
reorganization.

In the alternative, the U.S. Trustee seeks the appointment of an
examiner pursuant to Section 1104(c)(1) to investigate:

   i) the Debtors' prepetition relationship and transactions with
   the Revival entities;

   2) whether the Debtors' proposed postpetition transaction with
   Revival and Revival Funding is in the best interests of
   creditors and the estate; and

   3) whether the Debtors' current management and members of the
   boards of directors can properly manage the Debtors and
   exercise their respective duties under the Bankruptcy Code and
   applicable non-bankruptcy law.

                     About Peninsula Hospital

Wayne S. Dodakian, Vinod Sinha, and Shannon Gerardi filed an
involuntary Chapter 11 bankruptcy protection against Peninsula
Hospital Center -- http://www.peninsulahospital.org/-- (Bankr.
E.D.N.Y. Case No. 11-47056) on Aug. 16, 2011.  Judge Elizabeth S.
Stong presides over the case.  Marilyn Cowhey Macron, Esq., Macron
& Cowhey, represents the petitioners.

Peninsula Hospital Center and Peninsula General Nursing Home
Corp., employed Alvarez & Marsal Healthcare Industry Group, LLC,
as financial advisors.  The Hospital employed Abrams Fensterman et
al. as their attorneys.  Nixon Peabody serves as their special
counsel; GCG, Inc., serves as claims and noticing agent.

Judge Stong appointed Daniel T. McMurray at Focus Management Group
as patient care ombudsman.  Neubert, Pepe & Monteith P.C. serves
as PCO's counsel.

Tracy Hope Davis, the U.S. Trustee for Region 2, appointed five
unsecured creditors to serve on the Official Committee of
Unsecured Creditors of Peninsula Hospital Center.  CBIZ
Accounting, Tax & Advisory of New York, LLC and CBIZ, Inc., serves
as financial advisors for the Committee.


PLATINUM OIL: Court Won't Reconsider Ruling on Jicarilla Leases
---------------------------------------------------------------
Bankruptcy Judge Robert H. Jacobvitz declined a request by
Platinum Oil Properties LLC to revisit its Memorandum Opinion and
Order Denying Cross-Motions for Summary Judgment pursuant to Rule
9023 of the Federal Rules of Bankruptcy Procedure, which
incorporates Rule 59 of the Federal Rules of Civil Procedure.  The
Memorandum Opinion and Order determined, among other things, that
the confirmed plan of reorganization in the Golden Oil Company,
Inc. bankruptcy case did not provide for a transfer of operating
rights and working interests to Platinum.  Platinum primarily
argues that the Court erred by excluding evidence under the parol
evidence rule that would establish that Platinum -- not the McKay-
Lotspeich-Group -- was the intended transferee of the Operating
Rights and Working Interests under the Golden Oil Plan.  Platinum
also asserts that the Court erred as a matter of law in
determining that the Jicarilla Apache Nation can modify provisions
of the Jicarilla Leases governing assignment and in concluding
that the Department of the Interior did not approve the transfer
of Operating Rights and Working Interests to Platinum.  The Court
disagrees with Platinum's arguments.  A copy of the Court's Dec.
12, 2011 Order is available at http://is.gd/gMuXGlfrom
Leagle.com.

          Roger Jones, Esq.
          Austin L. McMullen, Esq.
          BRADLEY ARANT BOULT CUMMINGS LLP
          Roundabout Plaza
          1600 Division Street, Suite 700
          Nashville, TN 37203
          Tel: 615-252-2307
          Fax: 615-252-6307
          E-mail: rjones@babc.com
                  amcmullen@babc.com

Robert J. Labate, Esq. -- robert.labate@hklaw.com -- at Holland &
Knight LLP, represents Jicarilla Apache Nation.

Golden Oil Company filed a Chapter 11 petition (Bankr. S.D. Tex.
Case No. 03-36974) on Aug. 12, 2003.

Platinum Oil Properties, LLC, filed for Chapter 11 bankruptcy
(Bankr. D. N.M. Case No. 09-10832) on March 2, 2009.  Platinum
asserts lessee or other interests in two oil and gas leases: Oil
and Gas Mining Leases-Tribal Indian Lands, under which The
Jicarilla Apache Tribe of Indians.  Platinum's interests in or
pertaining to the Leases, if any, comprise substantially all of
the assets of the estate.  The Nation challenged the inclusion of
the operating rights and working interests as part of Platinum's
estate.  Platinum asserted that the lease rights and interests had
been assigned, pursuant to Golden Oil's confirmed bankruptcy plan,
to a group that later formed Platinum Oil.


PLATINUM PROPERTIES: Wants Plan Filing Period Extended to April 19
------------------------------------------------------------------
Platinum Properties, LLC, and PPV, LLC, ask the U.S. Bankruptcy
Court for the Southern District of Indiana to extend for an
additional 120 days their exclusive periods to file and solicit
acceptances for their proposed plan of reorganization, up to and
including April 19, 2012, and June 20, 2012, respectively.

Absent this second extension, the Debtors' exclusive filing period
and exclusive solicitation period will expire on Dec. 21, 2011,
and Feb. 21, 2012, respectively.

The Debtors tell the Court that they require additional time to
develop and evaluate expressions of interest in additional sales
transactions or other settlements with their creditors.  Further,
the Debtors are currently in negotiations with certain creditors
to engage in one or more transactions that could result in a
mutually agreeable resolution for one or both of the Chapter 11
Cases.

              About Platinum Properties and PPV LLC

Indianapolis, Indiana-based Platinum Properties, LLC, is a
residential real estate developer.  Platinum acquires land,
designs the projects, obtains zoning and other approvals, and
constructs roads, drainage, utilities, and other infrastructure of
residential subdivisions.  Platinum then sells the finished,
platted lots.  Platinum also has an ownership interest in several
special purpose entities that in turn own, operate and manage
individual projects.

PPV LLC is a joint venture between Platinum and a non-debtor
entity, Pittman Partners, Inc., each of whom hold an equity
interest in PPV.  PPV owned four projects directly and owns 100%
of the membership interest of Sweet Charity Estates, LLC.

Platinum Properties and PPV LLC filed for Chapter 11 protection
(Bankr. S.D. Ind. Case Nos. 11-05140 and 11-05141) on April 25,
2011.  Lawyers at Baker & Daniels LLP, in Indianapolis, Indiana,
serve as the Debtors' bankruptcy counsel.  Platinum Properties
disclosed $14,624,722 in assets and $181,990,960 in liabilities as
of the Chapter 11 filing.

The U.S Trustee has not yet appointed a creditors committee in the
Debtor's case.  The U.S. Trustee reserves the right to appoint
such a committee should interest developed among the creditors.


PMI GROUP: 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
The PMI Group, Inc., because an insufficient number of persons
holding unsecured claims against the Debtor have expressed
interest in serving on a committee.  The U.S. Trustee reserves the
right to appoint such a committee should interest developed among
the creditors.

                        About PMI Group

Del.-based The PMI Group, Inc., is an insurance holding company
whose stock had, until Oct. 21, 2011, been publicly-traded on the
New York Stock Exchange.  Through its principal regulated
subsidiary, PMI Mortgage Insurance Co., and its affiliated
companies, the Debtor provides residential mortgage insurance in
the United States.

The PMI Group filed for Chapter 11 bankruptcy (Bankr. D. Del. Case
No. 11-13730) on Nov. 23, 2011.  The Debtor had total assets of
$225 million and total debts of $736 million.  Stephen Smith
signed the petition as chairman, chief executive officer,
president and chief operating officer.

The Debtor said in the filing that it does not have the financial
resources to pay the outstanding principal amount of the 4.50%
Convertible Senior Notes, 6.000% Senior Notes and the 6.625%
Senior Notes if those amounts were to become due and payable.


PMI GROUP: Auction Determines Credit-Default Swaps Payouts
----------------------------------------------------------
Dow Jones' Daily Bankruptcy Review reports that the second round
of a two-part auction to settle credit-default-swap protection
tied to residential-mortgage insurer PMI Group Inc. generated a
final price for the company's debt of 16.5 cents on the dollar
Tuesday, meaning CDS buyers will receive 83.5 cents back for every
dollar of protection they purchased.

                          About PMI Group

Walnut Creek, Calif.-based The PMI Group, Inc., through its
subsidiary, PMI Mortgage Insurance Co. and its affiliated
companies, provides residential mortgage insurance in the United
States.

PMI posted a consolidated net loss of $134.8 million and $261.6
million for the second quarter and first six months of 2011,
respectively, compared to net losses of $150.6 million and $307.5
million for the corresponding periods in 2010.

In August 2011, Moody's Investors Service lowered the insurance
financial strength rating of PMI Mortgage Insurance Co. to Caa1,
from B3 following Arizona State Insurance Department's order
placing the company under regulatory supervision.  PMI's rating is
under review for possible downgrade.

Moody's noted that the Arizona Department of Insurance's order
placed PMI and PMI Insurance Co. (unrated) under regulatory
supervision and required that they stop writing new commitments
immediately.


PRM SMITH: Seeks to Hire Benjamin Currence as Litigation Counsel
----------------------------------------------------------------
PRM Smith Bay, LLC, seeks permission from the U.S. Bankruptcy
Court for the Northern District of Texas to employ Benjamin A.
Currence, Esq., as its litigation counsel.

On Feb. 2, 2010, FirstBank Puerto Rico filed a foreclosure action
in the United States District Court of the Virgin Islands,
Division of St. Thomas and St. John, Case No. 10-00015.

On July 27, 2011, the Debtor's Plan of Reorganization was
withdrawn by the Debtor to avoid the costs associated with a
protracted confirmation fight with FirstBank concerning its
objections to the Debtor's proposed Plan.  On Aug. 11, 2011,
FirstBank filed a motion in the Foreclosure Action to reopen the
docket.  At the time of FirstBank's motion, the Debtor was not
represented by counsel in the Foreclosure Action.

The Debtor seeks to engage Mr. Currence to represent it in the
Foreclosure Action, including filing a notice of appearance,
answer and counterclaims, and any other filings necessary to
defend the Debtor in the Foreclosure Action.

Mr. Currence seeks to receive an initial retainer of $2,500 at the
inception of the engagement.  The retainer and any additional fees
and expenses will be paid by a non-debtor affiliate of the Debtor,
PR Global Hotel Ventures, LLC.

To the best of the Debtor's knowledge, Mr. Currence does not hold
an interest adverse to the Debtor or to the Debtor's estate with
respect to matters upon which he is to be engaged.

                        About PRM Smith Bay

Chicago, Illinois-based PRM Smith Bay, LLC, aka PRM Smith Bay,
LLP, was formed in May 2004 for the purpose of holding an
undeveloped 7.5 acre parcel of land on St. Thomas in the United
States Virgin Islands known as Cabes Point.  PRM Realty Group,
LLC, is the 100% owner and manager of the Debtor.  The
Debtor filed for Chapter 11 bankruptcy protection (Bankr. N.D.
Tex. Case No. 11-30444) on Jan. 20, 2011.  Gerrit M. Pronske,
Esq., Rakhee V. Patel, Esq., and Melanie P. Goolsby, Esq., at
Pronske & Patel, P.C., in Dallas, serve as the Debtor's bankruptcy
counsel.  In its schedules, the Debtor disclosed $13,031,162 in
assets and $6,781,074 in liabilities as of the petition date.

Affiliates Bon Secour Partners, LLC (Bankr. N.D. Tex. Case No.
09-37580), PRS II, LLC (Bankr. N.D. Tex. Case No. 09-31436), PRM
Realty Group, LLC (Bankr. N.D. Tex. Case No. 10-30241), PMP II,
LLC (Bankr. N.D. Tex. Case No. 10-30252), Maluhia Development
Group, LLC (Bankr. N.D. Tex. Case No. 10-30475), Maluhia One, LLC
(Bankr. N.D. Tex. Case No. 10-30987), Maluhia Eight, LLC (Bankr.
N.D. Tex. Case No. 10-30986), Maluhia Nine, LLC (Bankr. N.D. Tex.
Case No. 10-30988), Long Bay Partners, LLC (Bankr. N.D. Tex. Case
No. 10-35124), PRM Development, LLC (Bankr. N.D. Tex. Case No. 10-
35547), Little Hans Lollik Holdings, LLP (Bankr. N.D. Tex. Case
No. 10-36159), and Hans Lollick Land Company, Limited (Bankr. N.D.
Tex. Case No. 10-36161) filed separate Chapter 11 petitions.


PT ARPENI PRATAMA: Seeks Creditor Projection in the U.S.
--------------------------------------------------------
PT Arpeni Pratama Ocean Line Tbk filed for bankruptcy protection
in the U.S. in an effort to block a group of dissident note
holders from torpedoing its debt restructuring in its home
country.

Fida Unidjaja, as foreign representative, estimated $500 million
to $1 billion in assets and liabilities in his bankruptcy petition
under Chapter 15 (Bankr. S.D.N.Y. Case No. 11-15691) for PT
Arpeni.

PT Arpeni Pratama Ocean Line Tbk -- http://www.apol.co.id/-- is
Indonesia's leading diversified shipping company, owning and
operating the largest fleet of Indonesian flagged dry bulk
vessels.  Arpeni operates a fleet of general-purpose specialist,
such as their tweendecker MV Alas, which is designed to transport
dry cargoes such as plywood and agricultural products.  As of June
30, 2011, Arpeni operated 77 wholly-owned vessels and two vessels
under long term charters.

PT Arpeni is seeking U.S. court recognition of its proceeding
before the Commercial Court at the Central Jakarta District Court
as a foreign main proceeding.

PT Bank Central Asia Tbk., an unsecured lender, commenced the
Jakarta proceeding on Aug. 5, 2011, which Arpeni voluntarily
joined.  On Aug. 24, 2011, the Jakarta Court issued a temporary
suspension of debt payment decision, effectively staying actions
on claims against the Foreign Debtor for an initial period of 45
days.

Throughout the proceeding, Arpeni remained in possession of and
continued its business while it restructured its debt.

Unidjaja explained, "The current global economic downturn caused a
substantial decrease in freight rates and transportation volume,
compounded by an increase in credit risk and defaults on trade
receivables. Arpeni experienced a significant deterioration in its
international and domestic market as conditions in the maritime
shipping industry in general deteriorated significantly commencing
in the fourth quarter of 2008 and continuing through 2011.  The
difficult market conditions in the maritime shipping industry have
had a material adverse effect on Arpeni's business and financial
performance."

On Dec. 9, 2009, Arpeni announced an informal payment moratorium
with certain of its creditors pursuant to which Arpeni ceased
making payments of interest or principal.

The trustee under the indenture with respect to the U.S. Notes on
Sept. 6, 2011, had accelerated the U.S. Notes and demanded
performance by the Debtor of its obligations as guarantor under
the U.S. Notes Indenture.

In the Jakarta proceeding, the Debtor sought and obtained approval
of a composition plan from the requisite percentage of its
creditors participating in the plan pursuant to Indonesian
bankruptcy law.  In particular, the Composition Plan was approved
by approximately 95% of the Debtor's secured creditors and 80% of
the Debtor's unsecured creditors, in each case present and voting
at a hearing before the Indonesian Court on Nov. 1, 2011 and
holding claims that had been verified for inclusion in the Foreign
Proceeding.  As provided in the Composition Plan as embodied in
the Settlement Agreement, on Nov. 18, 2011, Arpeni launched an
exchange offer and tender offer.

The Debtor filed a Chapter 15 petition to stop the commencement of
actions within the United States under the U.S. Notes Indenture or
disrupt the Foreign Debtor's restructuring efforts by seeking to
circumvent the Composition Plan and Foreign Proceeding, in
derogation of the rights of the Foreign Debtor's other creditors.


PURE BEAUTY: Creditors Have Until Jan. 13 to File Proofs of Claim
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware has
established Jan. 13, 2012, at 4:00 p.m. (prevailing Eastern Time),
as the deadline for any person or entity to file proofs of claim
against Pure Beauty Salons & Boutiques, Inc., et al.

The Court also set April 2, 2012, at 4:00 p.m., as the
Governmental Bar Date.

All proofs of claim must be submitted in person, by courier
service, by hand delivery, or by mail, at these addresses:

If by first-class mail:

         Pure Beauty Salons & Boutiques, Inc.
         Claims Processing Center
         c/o Epiq Bankruptcy Solutions, LLC
         FDR Station
         P.O. Box 5283
         New York, NY 10150-5283

If by hand delivery or overnight mail:

         Pure Beauty Salons & Boutiques, Inc.
         Claims Processing Center
         c/o Epiq Bankruptcy Solutions, LLC
         757 Third Avenue, 3rd Floor
         New York, NY 10017

                        About Pure Beauty

Pure Beauty Salons & Boutiques, Inc., and its affiliated company
BeautyFirst Franchise Corp., operate a chain of hair care and
beauty supply stores under the trade names Trade Secret, Beauty
Express, BeautyFirst, PureBeauty, and Winston's Barber Shop.  Pure
Beauty Salons & Boutiques, Inc. operates and/or owns 436 stores
and BeautyFirst Franchise Corp. has agreements with 13 franchisees
that operate 22 BeautyFirst and 7 Trade Secret Stores.

Pure Beauty Salons & Boutiques, Inc., is back in Chapter 11 after
having been sold out of Chapter 11 last year.  The prior case was
dismissed after the sale was completed.  The previous case was In
re Trade Secret Inc., 10-12153, in the same court.

Pure Beauty Salons filed for bankruptcy (Bankr. D. Del. Case No.
11-13159) on Oct. 4, 2011.  Affiliate BeautyFirst Franchise Corp.
filed a separate petition (Bankr. D. Del. Case No. 11-13160).
Joseph M. Barry, Esq., Kenneth J. Enos, Esq., and Ryan M. Bartley,
Esq., at at Young Conaway Stargatt & Taylor, LLP, serve as the
Debtors' counsel.  The Debtors' investment banker is SSG Capital
Advisors' J. Scott Victor -- jsvictor@ssgca.com  The Debtors'
notice, claims solicitation, and balloting agent is Epiq
Bankruptcy Solutions.

In its schedules, Pure Beauty Salons disclosed $36,444,963 in
assets and $55,215,590 in liabilities as of the Petition Date.
In its schedules, BeautyFirst Franchise disclosed $1,716,985 in
assets and $36,761,086 in liabilities as of the Petition Date.

The Debtors owe $15 million to vendors and landlords.  The
petition was signed by Brian Luborsky, chief executive officer.

Attorneys at Pachulski Stang Ziehl & Jones LLP represent the
Official Committee of Unsecured Creditors.

Secured lender Regis Corp. is represented in the case by Michael
L. Meyer, Esq., at Ravich Meyer Kirkman McGrath Nauman & Tansey
P.A., and Kathleen M. Miller, Esq., at Smith Katzenstein & Furlow
LLP.


QUALTEC INC: Court Approves Crowe Horwath as Accountants
--------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Qualtec, Inc., et al., to employ Crowe Horwath LLP as their
accountants and tax advisors nunc pro tunc to Nov. 3, 2011.

The Crowe Horwath will, among other things:

   (a) compile annual and month-end balance sheets and related
       statements of income for year ending Dec. 31, 2011, and
       issue accountant's reports thereon in accordance with
       Statements on Standards for Accounting and Review Services
       issued by the American Institute of Certified Public
       Accountants;

   (b) provide audit services for the Debtors in 2011 and for year
       then ending;

   (c) review the Debtors' unaudited financial information; and

   (d) provide general tax consulting services.

Bradford R. Dooley & Associates' involvement in the services will
be limited to the services it has historically provided to the
Debtors through Nov. 3, 2011, and any additional services
necessary to effectuate the transition to Crowe Horwath.  Once the
transition is completed, the Debtors will no longer retain Dooley'
services and Crowe & Horwath will solely provide accounting and
tax services going forward.

The principal professionals at Crowe Horwath designated to
represent the Debtors and their current hourly rates are:

         John Grivetti, Partner          $400
         Dennis Kalten, Senior Manager   $310
         Eric Hanson, Senior Manager     $285

The Debtors will reimburse Crowe Horwath for all other out-of-
pocket expenses it incurred in connection with its engagement.

The Debtors will pay to Crowe Horwath a $30,000 postpetition
retainer to be held in trust and applied to fees and expenses as
approved by the Court.

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

                         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.
Scouler & Company is the restructuring advisors.  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.


QUALTEC INC: Can Hire FocalPoint Securities as Investment Banker
----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Qualtec, Inc., et al., to employ FocalPoint Securities, LLC, as
their investment banker in connection with raising financing in
one or more transactions.

Pursuant to the Engagement Letter, FocalPoint will:

   (a) familiarize itself with the business, operations, assets,
       financial condition, and prospects of the Debtors;

   (b) evaluate the Debtors' debt capacity in light of their
       projected cash flows and assist in the determination of an
       appropriate capital structure for the company;

   (c) advise the Debtors in analyzing their strategic
       alternatives and structuring and effecting financial
       aspects of any Transaction;

   (d) design the appropriate process to effect and initiate any
       Transaction including an analysis of the various
       alternatives and, if appropriate, the lenders and investors
       to be contacted for the Transaction;

   (e) prepare any appropriate financial models, financial
       analysis, or offering materials necessary to initiate and
       effect any Transaction including those to be provided to
       Investors in conjunction with any Transaction;

   (f) as appropriate, solicit interest from Investors in any
       Transaction;

   (g) assist the Debtors and their other professionals in
       reviewing and evaluating the terms of any proposed
       Transaction and, if directed, negotiate the terms thereof;

   (h) advise the Debtors on the risks and benefits of considering
       a Transaction with respect to the Company's intermediate
       and long-term business prospects;

   (i) assist or participate in negotiations with parties-in-
       interest, including any current or prospective creditors
       of, holders of equity in, or claimants against the Debtors
       or their respective representative in connection with a
       Transaction;

   (j) advise the Debtors with respect to, and attend, meetings of
       Debtors' Board of Directors and their committees, creditor
       groups, official constituencies and other interested
       parties, as necessary; and

   (k) as appropriate, provide relevant testimony with respect to
       any Transaction.

FocalPoint will be compensated for its services via a monthly
advisory fee of $50,000, as well as financing fee which will be
paid to FocalPoint upon the closing of any financing and which
will be calculated as follows:

   * 2% of the gross amount of funded or committed indebtedness
     that (x) is secured by a first lien, (y) is secured by a
     second or more junior lien, (z) is unsecured or subordinated;
     and

   * 5% of the gross amount of any funded or committed preferred
     common equity, convertible or otherwise equity-linked
     securities or obligations.

The Debtors will reimburse FocalPoint for out-of-pocket expenses
including, but not limited to, postage and shipping charges,
telephone, facsimiles, printing and travel.

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

                         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.
Scouler & Company is the restructuring advisors.  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.


QUINCY MEDICAL: Ombudsman Wants PCO Responsibilities Discharged
---------------------------------------------------------------
Suzanne Koenig, the patient care ombudsman appointed in the
Chapter 11 cases of Quincy Medical Center, Inc., QMC ED
Physicians, Inc., and Quincy Physician Corporation, asks the U.S.
Bankruptcy Court for the District of Massachusetts to discharge
her of her responsibilities as patient care ombudsman.

The PCO relates that in accordance with the order outlining her
responsibilities, the ombudsman was to perform her functions only
until the assets of the Debtor were sold.  That sale occurred on
Sept. 30, 2011 and, out of an abundance of caution, the ombudsman
seeks to make clear that she has further obligations under her
appointment.

The PCO continues that on Nov. 22, 2011, the Court entered an
order confirming the Debtor's Joint Plan of Liquidation.  As part
of the confirmed Plan, the Debtors, the Creditors' Committee, the
Liquidating Trustee and others were exculpated and released from
certain claims.

The PCO is represented by:

         David B. Madoff, Esq.
         MADOFF & KHOURY LLP
         124 Washington Street, Suite 202
         Foxborough, MA 02035
         Tel: (508) 543-0040
         E-mail: madoff@mandkllp.com

                    About Quincy Medical Center

Quincy Medical Center is a 196-bed, nonprofit hospital in Quincy,
Massachusetts.  Quincy Medical Center, Inc. together with two
affiliates, sought Chapter 11 protection (Bankr. D. Mass. Lead
Case No. 11-16394) on July 1, 2011.  John T. Morrier, Esq., at
Casner & Edwards, LLP, in Boston, serves as counsel to the
Debtors.  Navigant Capital Advisor LLC and Navigant Consulting
Inc. serve as financial advisors.  Epiq Bankruptcy Solutions LLC
is the claims, noticing, and balloting agent.

Quincy disclosed assets of $73 million and liabilities of
$79.4 million.  Debt includes $56.4 million owing on secured bonds
issued through a state health-care finance agency.  There is
another $2.5 million secured obligation owing to Boston Medical
Center Corp.  Accrued liabilities are $18.2 million.

On July 12, 2011, the U.S. Trustee for the District of
Massachusetts appointed the Official Committee of Unsecured
Creditors.  Counsel to the Creditors' Committee is Jeffrey D.
Sternklar, Esq., at Duane Morris LLP, in Boston, Massachusetts.
Deloitte Financial Advisory Services LLC is the financial advisor
to the Creditors' Committee.

Quincy sold its hospital facility to Steward Health Care System
LLC, in October 2011 for $52.4 million, not enough for full
payment to secured bondholders owed $56.5 million. The bonds were
issued through a state health-care finance agency.  Nonetheless,
$562,500 -- not subject to bondholders' deficiency claims -- was
set aside for unsecured creditors with claims estimated to total
between $6 million and $7 million.  The disclosure statement
estimated unsecured creditors would recover about 8.4%.


RADIAN GROUP: Unit Releases Delinquency Data for November
---------------------------------------------------------
Radian Guaranty Inc., the mortgage insurance subsidiary of Radian
Group Inc., released data for primary mortgage insurance
delinquencies for November 2011.


                                                              November 2011
                                                              -------------
        Primary New Insurance Written ($ in billions)                 $2.18
        Beginning Primary Delinquent Inventory
        (# of loans)                                                110,614
        ----------------------------------------------------  -------------
                                     Plus: New Delinquencies          8,013
        ----------------------------------------------------  -------------
                                                 Less: Cures        (6,245)
        ----------------------------------------------------  -------------
                                                 Less: Paids
        (including those charged to a deductible or captive)        (1,482)
        ----------------------------------------------------  -------------
                               Less: Rescissions and Denials          (542)
        ----------------------------------------------------  -------------
        Ending Primary Delinquent Inventory
        (# of loans)                                                110,358
        ----------------------------------------------------  -------------

Radian Group Inc. is a U.S.-based holding company that owns a
mortgage insurance platform comprised of Radian Guaranty, Radian
Insurance and Radian Mortgage Assurance, and financial guaranty
insurance company Radian Asset. The group also has investments in
other financial services entities. As of September 30, 2011,
Radian Group had $7.25 billion in total assets and $1.29 billion
in shareholder's equity.

Moody's commented that the downgrade of Radian Group's senior debt
rating reflects Radian's constrained holding company liquidity and
the potential for additional contribution of holding company
resources to support its mortgage insurance business.

                         *     *     *

As reported in the Troubled Company Reporter on Nov. 25, 2011,
Moody's Investors Service has downgraded Radian Group's senior
debt rating to 'Caa1', from 'B3', and placed it on review for
possible further downgrade.


RCR PLUMBING: Proposes Kurtzman Carson Consultants as Claims Agent
------------------------------------------------------------------
RCR Plumbing and Mechanical, Inc., asks the U.S. Bankruptcy Court
for the Central District of California for authorization to amend
the terms of retention of Kurtzman Carson Consultants, LLC.

The Debtor relates that it was authorized to employ KCC to serve
as noticing agent and to provide consulting services.  The
original scope of employment did not include retention of KCC as
claims agent.

The Debtor seeks authorization to amend KCC's employment to
include serving as claims agent, or provide services including,
but not limited to, handling and processing claims and setting up
the claims register, however, KCC's additional duties will not
include any claims acknowledging services.

The Debtor will pay KCC's invoice on a monthly basis.  In the
event total fees and expenses are expected to exceed $10,000 in
any single month, KCC may require advance payment from the Debtor
due and payable upon demand and prior to performance of services.
KCC will receive a $5,000 retainer as security for payment
obligations.

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

                        About RCR Plumbing

Founded in 1977, Riverside, California-based RCR Plumbing and
Mechanical Inc. is one of the largest plumbing subcontractors in
the West Coast.  In 1999, RCR Plumbing was acquired by American
Plumbing and Mechanical Inc.  On Oct. 13, 2003, AMPAM and its
affiliated entities, including RCR Plumbing, filed for Chapter 11
bankruptcy (Bankr. W.D. Tex. Lead Case No. 03-55789) in San
Antonio.  Pursuant to a plan of reorganization, RCR Plumbing
received a discharge of any liability arising from contracts
completed prior to Aug. 2, 2004, the date the plan was confirmed.
The plan disaggregated RCR Plumbing from AMPAM.

RCR Plumbing filed for Chapter 11 bankruptcy (Bankr. C.D. Calif.
Case No. 11-41853) on Oct. 12, 2011.  RCR Plumbing blamed a weak
construction market and increased insurance costs.  Judge Wayne E.
Johnson oversees the case.  Evan D. Smiley, Esq., and Kyra E.
Andrassy, Esq. -- esmiley@wgllp.com and kandrassy@wgllp.com -- at
Weiland, Golden, Smiley et al., serve as the Debtor's counsel.
Sidley Austin LLP as its special labor and employment counsel
BSW & Associates as financial advisor.  Kurtzman Carson
Consultants LLC serves as noticing agent.  In its petition, RCR
Plumbing estimated $10 million to $50 million in assets and debts.
The petition was signed by Robert C. Richey, president/CEO.

The Official Committee of Unsecured Creditors tapped Venable LLP
as its counsel.


R.E. LOANS: Court Approves Akin Gump as Committee's Counsel
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
authorized the Official Committee of Note Holders in the
bankruptcy case of R.E. Loans, LLC, et al., to retain Akin Gump
Strauss Hauer & Feld LLP as its counsel.  The Committee selected
Akin Gump because the firm possesses extensive knowledge and
expertise in the areas of law relevant to the chapter 11 cases,
including bankruptcy, reorganization, litigation, distressed real
estate and commercial issues.

As counsel, Akin Gump will:

   (a) advise the Committee with respect to its rights, duties and
       powers in the Chapter 11 cases;

   (b) assist and advise the Committee in its consultations with
       the Debtors and other parties-in-interest relative to the
       administration of the Debtors' chapter 11 cases;

   (c) assist the Committee in analyzing the claims of the
       Debtors' creditors and the Debtors' capital structure and
       in negotiating with holders of claims and equity interests;

   (d) assist the Committee in its investigation of the acts,
       conduct, assets, liabilities and financial condition of the
       Debtors and of the operation of the Debtors' businesses;

   (e) assist the Committee in its analysis of, and negotiations
       with, the Debtors or any third party concerning matters
       related to, among other things, the assumption or rejection
       of certain leases of non-residential real property and
       executory contracts, asset dispositions, financing of other
       transactions and the terms of one or more plans of
       reorganization for the Debtors and accompanying disclosure
       statements and related plan documents;

   (f) assist and advise the Committee as to its communications
       with note holders regarding significant matters in these
       chapter 11 cases;

   (g) represent the Committee at all hearings and other
       proceedings before the Bankruptcy Court and other courts;

   (h) review and analyze applications, orders, statements of
       operations and schedules filed with the Court and advise
       the Committee as to their propriety, and to the extent
       deemed appropriate by the Committee support, join or object
       thereto;

   (i) assist the Committee in preparing pleadings and
       applications as may be necessary in furtherance of the
       Committee's interests and objectives, including without
       limitation, motions, memoranda, complaints, adversary
       complaints, objections or comments in connection with any
       of the foregoing;

   (j) assist the Committee in its review and analysis of the
       Debtors' various commercial agreements;

   (k) investigate and analyze any claims against the Debtors'
       officers, directors, and non-debtor affiliates; and

   (l) perform other legal services as may be required or are
       otherwise deemed to be in the interests of the Committee in
       accordance with the Committee's powers and duties as set
       forth in the Bankruptcy Code, Bankruptcy Rules or other
       applicable law.

The Committee proposes that the Debtors pay Akin Gump in
accordance with the firm's ordinary and customary hourly rates.
Akin Gump attorneys expected to have primary responsibility for
providing services to the Committee and their hourly rates are:

      Attorney                         Rate
      --------                         ----
      Charles R. Gibbs                 $840
      Michael P. Cooley                $660
      Michael Haynes                   $520
      Machir Stull                     $360

Charles R. Gibbs, Esq. at Akin Gump Strauss Hauer & Feld LLP, in
Dallas, Texas, assures the Court that his firm is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.

                         About R.E. Loans

R.E. Loans LLC was, for many years, in the business of providing
financing to home builders and developers of real property.  R.E.
Future LLC and Capital Salvage own the real property obtained
following foreclosure proceedings initiated by R.E. Loans against
its borrowers.  R.E. Loans is the sole shareholder of Capital
Salvage and the sole member of R.E. Future.  B-4 Partners LLC is
the sole member of R.E. Loans.  As a result of the multiple
defaults by R.E. Loans' borrowers, R.E. Loans has transitioned
from being a lender to becoming a property management company.

Lafayette, California-based R.E. Loans, R.E. Future and Capital
Salvage filed for Chapter 11 bankruptcy (Bankr. N.D. Tex. Case
Nos. 11-35865, 11-35868 and 11-35869) on Sept. 13, 2011.  Judge
Barbara J. Houser presides over the case.  Stutman, Treister &
Glatt and Gardere, Wynne and Sewell, represent the Debtors as
counsel.  James A. Weissenborn at Mackinac serves as R.E. Loans'
chief restructuring officer.  The Debtors tapped Hines Smith
Carder as their litigation and outside general counsel.  The
Debtors tapped Alixpartners, LLP as noticing agent.  R.E. Loans
disclosed $713,622,015 in assets and $886,002,786 in liabilities
as of the Chapter 11 filing.

William T. Neary, the U.S. Trustee for Region 6, appointed 12
members to the Official Committee of Noteholders of R.E. Loans
LLC.


R.E. LOANS: Court OKs FTI as Committee's Financial Advisors
-----------------------------------------------------------
The Official Committee of Note Holders in the bankruptcy cases of
R.E. Loan, LLC, et al., obtained permission from the U.S.
Bankruptcy Court for the Northern District of Texas to retain FTI
Consulting, Inc., as its financial advisors.  The Committee
asserts that the services of a financial advisor are necessary and
appropriate to enable it to evaluate the complex financial and
economic issues raised by the Debtors' reorganization proceedings
and to effectively fulfill its statutory duties.

As financial advisor, FTI Consulting will:

   (a) assist and advice the Committee with respect to the
       Debtors' property management, development and disposition
       strategies;

   (b) assist in the evaluation, negotiation or replacement of the
       Debtors' proposed debtor-in-possession financing facility
       including, but not limited to, preparation for hearings
       regarding the use of cash collateral and DIP financing;

   (c) assist in the review or preparation of information and
       analysis necessary for the confirmation of a plan in the
       Debtors' Chapter 11 cases;

   (d) assist in the evaluation and analysis of insider
       transactions and avoidance actions, including fraudulent
       conveyances and preferential transfers;

   (e) provide litigation advisory services with respect to
       accounting and tax matters, along with testimony on case
       related issues as required by the Committee;

   (f) assist regarding the identification of areas of potential
       cost savings, including overhead and operating expense
       reductions and efficiency improvements;

   (g) assist in the review of financial information distributed
       by the Debtors to Committee, including, but not limited to,
       tax returns, audited financial statements, cash flow
       projections and budgets, cash receipts and disbursement
       analysis, analysis of various asset and liability accounts,
       and analysis of proposed transactions for which Court
       approval is sought;

   (h) assist the Committee in the review of financial related
       disclosures required by the Court, including the Schedules
       of Assets and Liabilities, the Statements of Financial
       Affairs and Monthly Operating Reports; and

   (i) render other general business consulting or other
       assistance as the Committee or its counsel may deem
       necessary that are consistent with the role of a
       financial advisor and not duplicative of services provided
       by other professionals.

The Committee and FTI Consulting agreed to a fixed rate of
$100,000 per month, plus reimbursement of actual and necessary
expenses.

To the extent FTI Consulting is called upon to provide expert
testimony, including property valuation, or forensic and
litigation consulting services, the firm's standard hourly rates
will apply.

The firm will charge the Debtors' estates at these rates:

   (a) Assistance in the determination of value of owned real
       estate property and real estate property that is serving as
       collateral for loans made by the Debtors to third-party
       borrowers, and testimony related to such:

            Senior Managing Directors         $780-$895
            Directors/Managing Directors      $560-$745
            Consultants/Senior Consultants    $280-$530
            Administrative/Paraprofessionals  $115-$230

   (b) Forensic investigation and testimony related to potential
       fraudulent activity or misappropriation of funds by current
       or prior management of the Debtors:

            Senior Managing Directors         $565-$750
            Directors/Managing Directors      $400-$575
            Consultants/Senior Consultants    $230-$375
            Administrative/Paraprofessionals  $160-$250

Additionally, FTI will be entitled to an incentive fee payable on
the earlier of (i) consummation of a chapter 11 plan of
reorganization or liquidation, or (ii) a sale, transfer, or other
disposition of all or a substantial portion of the assets of the
Debtors in one or more transactions.

Albert S. Conly, senior managing director with FTI Consulting,
assures the Court that his firm is a "disinterested person" within
the meaning of Section 101(14) of the Bankruptcy Code.

                        About R.E. Loans

R.E. Loans LLC was, for many years, in the business of providing
financing to home builders and developers of real property.  R.E.
Future LLC and Capital Salvage own the real property obtained
following foreclosure proceedings initiated by R.E. Loans against
its borrowers.  R.E. Loans is the sole shareholder of Capital
Salvage and the sole member of R.E. Future.  B-4 Partners LLC is
the sole member of R.E. Loans.  As a result of the multiple
defaults by R.E. Loans' borrowers, R.E. Loans has transitioned
from being a lender to becoming a property management company.

Lafayette, California-based R.E. Loans, R.E. Future and Capital
Salvage filed for Chapter 11 bankruptcy (Bankr. N.D. Tex. Case
Nos. 11-35865, 11-35868 and 11-35869) on Sept. 13, 2011.  Judge
Barbara J. Houser presides over the case.  Stutman, Treister &
Glatt and Gardere, Wynne and Sewell, represent the Debtors as
counsel.  James A. Weissenborn at Mackinac serves as R.E. Loans'
chief restructuring officer.  The Debtors tapped Hines Smith
Carder as their litigation and outside general counsel.  The
Debtors tapped Alixpartners, LLP as noticing agent.  R.E. Loans
disclosed $713,622,015 in assets and $886,002,786 in liabilities
as of the Chapter 11 filing.

William T. Neary, the U.S. Trustee for Region 6, appointed 12
members to the Official Committee of Noteholders of R.E. Loans
LLC.


R.E. LOANS: Court Approves Alixpartners as Noticing Agent
---------------------------------------------------------
The U.S. Bankruptcy Court for the District of Texas authorized
R.E. Loans LLC, R.E. Loans, R.E. Future and Capital Salvage to
employ Alixpartners, LLP, as their noticing agent.

The firm will, among other things:

   -- assist with developing the complete notice database system
      to inform all potential creditors as to the filing of the
      case and the bar date notice

   -- process and mail all notices including the initial
      bankruptcy notices and bar date notices and

   -- receive and process all proofs of claim and maintain the
      claims register.

The firm's hourly rates are:

   Personnel                              Rates
   ---------                              -----
   Clerical                              $32-$48
   Project Specialist                    $60-$100
   Case Manager                         $104-$148
   IT Program Consultant                $112-$152
   Consultant                           $152-$180
   Senior Consultant                    $200-$236

                          About R.E. Loans

R.E. Loans LLC was, for many years, in the business of providing
financing to home builders and developers of real property.  R.E.
Future LLC and Capital Salvage own the real property obtained
following foreclosure proceedings initiated by R.E. Loans against
its borrowers.  R.E. Loans is the sole shareholder of Capital
Salvage and the sole member of R.E. Future.  B-4 Partners LLC is
the sole member of R.E. Loans.  As a result of the multiple
defaults by R.E. Loans' borrowers, R.E. Loans has transitioned
from being a lender to becoming a property management company.

Lafayette, California-based R.E. Loans, R.E. Future and Capital
Salvage filed for Chapter 11 bankruptcy (Bankr. N.D. Tex. Case
Nos. 11-35865, 11-35868 and 11-35869) on Sept. 13, 2011.  Judge
Barbara J. Houser presides over the case.  Stutman, Treister &
Glatt and Gardere, Wynne and Sewell, represent the Debtors as
counsel.  James A. Weissenborn at Mackinac serves as R.E. Loans'
chief restructuring officer.  The Debtors tapped Hines Smith
Carder as their litigation and outside general counsel.  The
Debtors tapped Alixpartners, LLP as noticing agent.  R.E. Loans
disclosed $713,622,015 in assets and $886,002,786 in liabilities
as of the Chapter 11 filing.

William T. Neary, the U.S. Trustee for Region 6, appointed 12
members to the Official Committee of Noteholders of R.E. Loans
LLC.


REAL MEX: Court Approves Kelley Drye as Committee's Counsel
-----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware approved
the retention of Kelley Drye & Warren LLP as counsel to the
Official Committee of Unsecured Creditors of Real Mex Restaurants,
Inc., et al.

Kelley Drye's hourly rates are:

              Partner            $480 to $850
              Counsel            $450 to $600
              Associate          $305 to $580
              Paraprofessional   $100 to $275

                          About Real Mex

Based in Cypress, California, Real Mex Restaurants, Inc., owns and
operates restaurants, primarily through its major subsidiaries El
Torito Restaurants, Inc., Chevys Restaurants, LLC, and Acapulco
Restaurants, Inc.  It has 178 restaurants, with 149 in California.
There are also 30 franchised locations. It acquired Chevys Inc.
for $90 million through confirmation of Chevy's Chapter 11 plan in
2004.

Real Mex Restaurants and 16 of its affiliates filed for Chapter 11
bankruptcy protection (Bankr. D. Del. Case Nos. 11-13122 to
11-13138) on Oct. 4, 2011.  Judge Brendan Linehan Shannon oversees
the case.  Judge Peter Walsh was initially assigned to the case.

The Debtors are represented by Mark Shinderman, Esq., Fred
Neufeld, Esq., and Haig M. Maghakian, Esq., at MILBANK, TWEED,
HADLEY & McCLOY LLP; and Laura Davis Jones, Esq., and Curtis A.
Helm, Esq., at PACHULSKI STANG ZIEHL & JONES LLP as counsel.  The
Debtors' financial advisors are Imperial Capital, LLC.  The
Debtors' claims, noticing, soliciting and balloting agent is Epiq
Bankruptcy Solutions, LLC.

Assets are $272.2 million while debt totals $250 million,
according to the Chapter 11 petition.  The petitions were signed
by Richard P. Dutkiewiez, chief financial officer and executive
vice president.

Counsel to GE Capital Corp., the DIP Agent and the Prepetition
First Lien Secured Agent, are Jeffrey G. Moran, Esq., and Peter P.
Knight, Esq., at LATHAM & WATKINS LLP; and Kurt F. Gwynne, Esq.,
at REED SMITH LLP as counsel.

Counsel to the Prepetition Secured Second Lien Trustee are Mark F.
Hebbeln, Esq., and Harold L. Kaplan, Esq., at FOLEY & LARDNER LLP.

Counsel to the Majority Prepetition Second Lien Secured
Noteholders are Adam C. Harris, Esq., and David M. Hillman, Esq.,
at SCHULTE ROTH & ZABEL LLP; and Russell C. Silberglied, Esq., at
RICHARDS LAYTON & FINGER.

Z Capital Management LLC, which holds nearly 70% of the Opco term
loan, is represented by Derek C. Abbott, Esq., and Chad A. Fights,
Esq., at MORRIS NICHOLS ARSHT & TUNNELL LLP; and Lee R. Bogdanoff,
Esq., and Whitman L. Holt, Esq., at KLEE TUCHIN BOGDANOFF & STERN
LLP.


REAL MEX: Court Approves Cole Schotz as Committee's Co-Counsel
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
the Official Committee of Unsecured Creditors in the bankruptcy
case of Real Mex Restaurants Inc., et al., to retain Cole, Schotz,
Meisel, Forman & Leonard P.A. as its co-counsel.

Cole Schotz' current hourly rates are:

        Member and Special Counsel    $340 to $775
        Associate                     $210 to $425
        Paralegal                     $160 to $245

                          About Real Mex

Based in Cypress, California, Real Mex Restaurants, Inc., owns and
operates restaurants, primarily through its major subsidiaries El
Torito Restaurants, Inc., Chevys Restaurants, LLC, and Acapulco
Restaurants, Inc.  It has 178 restaurants, with 149 in California.
There are also 30 franchised locations. It acquired Chevys Inc.
for $90 million through confirmation of Chevy's Chapter 11 plan in
2004.

Real Mex Restaurants and 16 of its affiliates filed for Chapter 11
bankruptcy protection (Bankr. D. Del. Case Nos. 11-13122 to
11-13138) on Oct. 4, 2011.  Judge Brendan Linehan Shannon oversees
the case.  Judge Peter Walsh was initially assigned to the case.

The Debtors are represented by Mark Shinderman, Esq., Fred
Neufeld, Esq., and Haig M. Maghakian, Esq., at MILBANK, TWEED,
HADLEY & McCLOY LLP; and Laura Davis Jones, Esq., and Curtis A.
Helm, Esq., at PACHULSKI STANG ZIEHL & JONES LLP as counsel.  The
Debtors' financial advisors are Imperial Capital, LLC.  The
Debtors' claims, noticing, soliciting and balloting agent is Epiq
Bankruptcy Solutions, LLC.

Assets are $272.2 million while debt totals $250 million,
according to the Chapter 11 petition.  The petitions were signed
by Richard P. Dutkiewiez, chief financial officer and executive
vice president.

Counsel to GE Capital Corp., the DIP Agent and the Prepetition
First Lien Secured Agent, are Jeffrey G. Moran, Esq., and Peter P.
Knight, Esq., at LATHAM & WATKINS LLP; and Kurt F. Gwynne, Esq.,
at REED SMITH LLP as counsel.

Counsel to the Prepetition Secured Second Lien Trustee are Mark F.
Hebbeln, Esq., and Harold L. Kaplan, Esq., at FOLEY & LARDNER LLP.

Counsel to the Majority Prepetition Second Lien Secured
Noteholders are Adam C. Harris, Esq., and David M. Hillman, Esq.,
at SCHULTE ROTH & ZABEL LLP; and Russell C. Silberglied, Esq., at
RICHARDS LAYTON & FINGER.

Z Capital Management LLC, which holds nearly 70% of the Opco term
loan, is represented by Derek C. Abbott, Esq., and Chad A. Fights,
Esq., at MORRIS NICHOLS ARSHT & TUNNELL LLP; and Lee R. Bogdanoff,
Esq., and Whitman L. Holt, Esq., at KLEE TUCHIN BOGDANOFF & STERN
LLP.


REPLICEL LIFE: Posts C$890,700 Net Loss in Third Quarter
--------------------------------------------------------
RepliCel Life Sciences Inc., formerly Newcastle Resources Ltd.,
reported a net loss of C$890,773 for the third quarter ended
Sept. 30, 2011, compared with a net loss of C$286,011 for the same
period of 2010.

For the nine months ended Sept. 30, 2011, the Company had a net
loss of C$2.9 million, compared with a net loss of C$971,694 for
the same period last year.

The Company had no revenue from operations during the nine months
ended Sept. 30, 2011, and 2010.

The Company's balance sheet at Sept. 30, 2011, showed
C$1.3 million in total assets, C$267,025 in total current
liabilities, and shareholders equity of $1.0 million.

"At Sept. 30, 2011, the Company is still in the research stage,
and has accumulated losses of $5,819,710 since its inception and
expects to incur further losses in the development of its
business, which casts significant doubt about the Company's
ability to continue as a going concern,"the Company said in the
filing.

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

                      http://is.gd/cjyOIz

A copy of the condensed consolidated interim financial statements
for the three and nine months ended Sept. 30, is available for
free at http://is.gd/AdR4I6

Headquartered in Vancouver, Canada, RepliCel Life Sciences Inc.
has developed RepliCel(TM), a natural hair cell replication
technology that has the potential to become the world's first,
minimally invasive solution for androgenetic alopecia (pattern
baldness) and general hair loss in men and women.  RepliCel(TM) is
based on autologous cell implantation technology that replicates a
patient's hair cells from their own healthy hair follicles and,
when reintroduced into areas of hair loss, the Company hopes to
initiate natural hair regeneration.  Patents for the technology
have been issued by the European Union and Australia and are
pending in other major international jurisdictions.


RIVER ROAD: Lenders' Chapter 11 Plan Declared Effective
-------------------------------------------------------
River Road Hotel Partners, LLC, et al., notifies the U.S.
Bankruptcy Court for the Northern District of Illinois that the
Effective Date of the Lenders' Fourth Amended Joint Chapter 11
Plan dated June 24, 2011, occurred on Nov. 23, 2011.

On July 7, 2011, the Court confirmed the lenders' Plan, as amended
by the First Addendum to Lenders' Fourth Amended Joint Chapter 11
Plan.

As reported in the Troubled Company Reporter on July 11, 2011, the
approved plan will give ownership in exchange for $162 million in
debt.  The lender would waive its deficiency claim on taking title
through the plan.

                       About River Road Hotel

River Road Hotel Partners, LLC, developed and manages the
InterContinental Hotel Chicago O'Hare located in Rosemont,
Illinois.  Affiliate RadLAX Gateway Hotel LLC owns the Radisson
hotel at Los Angeles International Airport.  Both are ultimately
controlled owned by Harp Group.

River Road and its affiliates filed Chapter 11 in Chicago,
Illinois (Bankr. N.D. Ill. Lead Case No. 09-30029) on Aug. 17,
2009.  Based in Oak Brook, Illinois, River Road estimated assets
of as much as $100 million and debt of as much as $500 million in
its Chapter 11 petition.  River Road disclosed $0 in assets and
$14,400,000 in liabilities as of the Chapter 11 filing.  Terrence
O'Brien & Co. serves as the Debtors' appraiser, and Madigan &
Getzendanner as serves as the Debtors' special counsel.

RadLAX and its affiliates filed a separate chapter 11 petition
(Bankr. N.D. Ill. Case No 09-30047), estimating assets at
$50 million to $100 million.

David M. Neff, Esq., at Perkins Coie LLP, serves as counsel to the
River Road and RadLAX debtors.  The two cases, however, are not
jointly administered.

The Official Committee of Unsecured Creditors is represented by
Stephen T. Bobo and Ann E. Pille at Reed Smith LLP.

Adam A. Lewis, Esq., and Norman S. Rosenbaum, Esq., of Morrison
Foerster LLP of San Francisco, California; and John W. Costello,
Esq., and Mary E. Olson, Esq., of Wildman, Harrold, Allen & Dixon
LLP of Chicago, Illinois, represent Amalgamated Bank.  John
Sieger, Esq., and Andrew L. Wool, Esq., of Katten Muchin Rosenman
LLP represent U.S. Bank.


ROOMSTORE INC: Files Ch. 11 to Facilitate Reorganization Efforts
----------------------------------------------------------------
RoomStore, Inc. discloses a voluntary chapter 11 petition, filed
in Richmond, Virginia on Dec. 12, 2011.  RoomStore filed for
reorganization as a continuation of efforts to improve its
business plan.  RoomStore has also secured a commitment from its
current lender, Wells Fargo Bank, for a $14 million Debtor-In-
Possession credit facility.  The restructuring process will
facilitate RoomStore's financial and operational plans, which are
designed to restore the Company to long-term financial health.

The decision to file for re-organization comes after newly
appointed Chief Executive Officer, Stephen Giordano, took the helm
on Nov. 14, 2011.  A veteran industry leader with over thirty
years in the furniture business, Giordano was brought in to
execute the reorganization and turnaround of the business.  The
board of directors also named Steve Gidumal of Virtus Capital, as
the company's new Chairman of the Board.  The new board consists
of Giordano, Gidumal and furniture industry expert Ron Kaplan.

"RoomStore is a viable and recognizable brand that is an
established leader in the home furnishings industry.  Our
dedication to providing our customers with excellent value in home
furnishings will provide a strong foundation as we grow and
improve during restructuring," says Giordano.

RoomStore has engaged Lowenstein Sandler PC and Kaplan & Frank,
PLC as counsel and periodic updates on the reorganization will be
made available.

RoomStore currently has 63 stores and will continue to operate its
stores in the ordinary course of business while completing its
restructuring, and will also retain its interest in Mattress
Discounters Group, LLC.

                        Not First Time

Dow Jones' DBR Small Cap reports that RoomStore Inc. filed for
Chapter 11 protection with plans to get leaner, but it's not the
furniture and bedding retailer's first brush with bankruptcy.

According to a separate DBR Small Cap report, RoomStore Inc. filed
for Chapter 11 bankruptcy protection with the goal of
restructuring.

Headquartered in Atlanta, Georgia, Rhodes, Inc., sells brand-name
residential furniture to middle- and upper-middle-income customers
through 63 stores located in 11 southern and Midwestern states).
The Company and two of its debtor-affiliates filed for chapter 11
protection on Nov. 4, 2004 (Bankr. N.D. Ga. Case No. 04-78434).
Paul K. Ferdinands, Esq., and Sarah Robinson Borders, Esq., at
King & Spalding represent the Debtors in their restructuring
efforts.  When the Debtors filed for protection from their
creditors, they estimated more than $50 million in total debts.

RoomStore offers a wide selection of professionally coordinated
home furnishings in complete room packages at value-oriented
prices.  RoomStore operates 65 stores located in Pennsylvania,
Maryland, Virginia, North Carolina, South Carolina and Texas.  The
Company emerged from bankruptcy in June 2005, independent from its
parent, Heilig-Meyers Company.

                          About RoomStore

RoomStore, Inc. -- http://www.roomstore.com/--  was started in
1992 by several members of the Levitz family in Dallas, Texas.  A
leader in the home furnishing industry, it currently operates 63
retail stores in the states of Alabama, Florida, Maryland, North
Carolina, Pennsylvania, South Carolina, Texas, and Virginia.
RoomStore is a 65% shareholder in Mattress Discounters Group, LLC
("MDG").  Its MDG segment operates 79 bedding stores in the states
of Alabama, Virginia, Maryland, the District of Columbia, and
Delaware.

RoomStore Inc. again filed for Chapter 11 protection (Bankr. E.D.
Va. Case No. 11-37790) on Dec. 12, 2011.  The Company said it is
in the process of evaluating and securing debtor-in-possession
financing.


SEAHAWK DRILLING: Trustee to Compromise & Settle Adv. Proceeding
----------------------------------------------------------------
On Dec. 13, 2011, the Liquidating Trustee of the Liquidating Trust
of Seahawk Drilling, Inc. and its affiliated debtors, together
with certain Seahawk Mexican subsidiaries on the one hand, and
Pride International, Inc., together with Pride Deepwater USA,
Inc., Pride Offshore International LLC, Pride North America LLC,
Pride South Pacific LLC, Pride Tennessee LLC and Pride Wisconsin
LLC on the other hand, jointly filed the Emergency Joint Motion of
Liquidating Trustee and Pride International, Inc. to Compromise
and Settle Adversary Proceeding and Objections to Claims of Pride
International, Inc. [Claim Nos. 368, 371] [Docket No. 1679] (the
"Motion") in the confirmed chapter 11 bankruptcy case In re
Seahawk Drilling, Inc., et al., Case No. 11-20089 in the United
States Bankruptcy Court for the Southern District of Texas, Corpus
Christi Division.

The Bankruptcy Court has scheduled a hearing on the Motion on
Dec. 22, 2011, at 2:00 p.m. (Central) at the United States
Bankruptcy Court, 1133 North Shoreline, 2nd Floor, Corpus Christi,
Texas 78401. The Court has set a deadline for filing and service
of any objections to the Motion of Tuesday, Dec. 20, 2011, at 4:00
p.m. (Central).

                      About Seahawk Drilling

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

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

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

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

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


SIGNATURE STYLES: Will Seek Plan Confirmation at Dec. 21 Hearing
----------------------------------------------------------------
Debtors Signature Styles, LLC, and Signature Styles Gift Cards,
LLC, and their the Official Committee of Unsecured Creditors have
filed a disclosure statement in support of their Joint Plan of
Liquidation of the Debtors, dated Nov. 18, 2011.

The hearing to consider the adequacy of the Disclosure Statement
and Confirmation of the Joint Plan of Liquidation is scheduled for
Dec. 21, 2011, at 12:00 p.m.   Objections to the Plan are due by
Dec. 15, 2011.
The Plan is the culmination of the Debtors' bankruptcy cases, in
which the Debtors sold substantially all of their assets to
Artemiss, LLC, an affiliate of their prepetition secured lenders
and equity holder, Patriarch Partners, LLC.

The sale was consummated only after the Committee agreed not to
oppose the sale to the Purchaser on the condition that, among
other things, the Purchaser increased the purchase price for the
Debtors' Assets by providing $2 million in cash, agreed to fund
any ordinary course administrative obligations of the Debtors,
agreed to waive all Chapter 5 causes of action it acquired against
the Debtors' creditors, paid all cure amounts on account of
assumed contracts, and waived any and all of its claims against
the Debtors.

Under the plan, allowed (i) gift card claims are classified as
priority claims (Class II), which will be paid in full and (ii)
merchandise credit claims are classified as general unsecured
claims (Class III), which will receive their pro share of
distributable cash (projected to provide for a distribution of
approximately 8-10%).

There will be no recovery for holders of equity interests (Class
IV) until all allowed claims are paid in full.  At this time, it
is not expected that holders of equity interests will receive any
distributions on account of their equity interests.

                      Classification Summary

The Plan segregates the various claims against the Debtors and
Interests in the Debtors into four (4) Classes.  Classes I and II
are Unimpaired and Deemed to Accept the Plan.  Class III is
Impaired and Entitled to Vote.  Class IV is Impaired and Deemed to
Reject the Plan.

Class I. Secured Claims (Estimated at $0 - $100,000).  Class I
will receive (a) Cash in an amount equal to such Allowed Secured
Claim, including any interest, or (b) the collateral securing its
allowed Secured Claim and any interest.

Class II.A. Priority Claims (Estimated at $0 -$275,000).  Class
II.A will be paid in full without postpetition interest.

Class II.B. Gift Card Claims (Estimated at $60,000 - $70,000).
Class II.B will be paid in full.

Class III.A. General Unsecured Claims (Estimated at $11,000,000 -
$14,000,000.  Class III.A will receive its pro rata share (if any)
of Distributable Cash.  Estimated Recovery is 8-10%.

Class III.B.  Merchandise Credit Claims (Estimated at $550,000 -
$650,000.   Class III.B will receive its pro rata share (if any)
of Distributable Cash.  Estimated Recovery is 8-10%.

Class IV. Equity Interests.  Class IV will be canceled effective
as of the Effective Date.

A copy of the Disclosure Statement dated as of Nov. 18, 2011, is
available for free at:

       http://bankrupt.com/misc/signaturestyles.nov18ds.pdf

                      About Signature Styles

Signature Styles LLC, owner of the Spiegel catalog, filed a
Chapter 11 petition (Bankr. D. Del. Case No. 11-11733) on June 6,
2011, along with a deal to sell the business to affiliates of the
current owners and lenders.

New York-based Signature Styles, which filed for bankruptcy
together with its affiliates, disclosed assets of $48.6 million
and debt of $867.6 million.  It purchased the Spiegel business
for $21.7 million at a foreclosure sale in June 2009.

Christopher A. Ward, Esq., at Polsinelli Shughart PC, in
Wilmington, Delaware, serves as counsel to the Debtor.  Western
Reserve Partners LLC serves as investment bankers. Epiq
Bankruptcy Solutions, LLC, is the claims and notice agent.

Signature Styles completed the bankruptcy sale of the Spiegel
catalogue business to the secured lender on Sept. 12, 2011.  The
business was purchased by a fund associated with Patriarch
Partners LLC, the owner and lender through affiliated funds. The
contract with Patriarch was negotiated before the Chapter 11
filing. The Patriarch fund paid $2 million cash and assumed
specified liabilities, including $30 million outstanding on a term
loan and revolving credit.

No trustee or examiner has been appointed in the Chapter 11 cases.
On June 17, 2011, the U.S. Trustee appointed an official committee
of unsecured creditors in the Debtors' cases.


SINO FOREST: To Skip Interest Payment Due Thursday
--------------------------------------------------
Dow Jones' Daily Bankruptcy Review reports that Sino-Forest Corp.
said a final report on the forest company's accounting practices
and its third-quarter results won't be completed on time, and that
executives are considering a host of options for the company,
including selling some or all of its businesses.

Sino-Forest is a holding company listed in Toronto, Canada. It
is engaged in forestry ownership and plantation management in
China as well as the sale of timber, wood logs and other wood
products in that country.


SMITH CREEK: Sec. 341(a) Creditors' Meeting Set for Jan. 17
-----------------------------------------------------------
The United States Trustee in Houston, Texas, will convene a
Meeting of Creditors in the Chapter 11 case of Smith Creek
Partners, LP, pursuant to Sec. 341(a) of the Bankruptcy Code on
Jan. 17, 2012, at 10:00 a.m. at Houston, 515 Rusk Suite 3401.

Proofs of claim are due April 16, 2012.

Houston-Texas-based Smith Creek Partners LP filed for Chapter 11
bankruptcy (Bankr. S.D. Tex. Case No. 11-40495) on Dec. 7, 2011.
Judge Jeff Bohm presides over the case.  Richard L. Fuqua, II,
Esq. -- fuqua@fuquakeim.com -- at Fuqua & Associates, PC, serves
as the Debtor's counsel.  Smith Creek estimated $10 million to $50
million in assets and $1 million to $10 million in debts.  The
petition was signed by Stephen R. Fincher, president of Linchpin
Investments, Inc., Smith Creek's general partner.


SOLYNDRA LLC: Wants Lease Decision Period Extended Until April 2
----------------------------------------------------------------
Solyndra LLC, et al., ask the U.S. Bankruptcy Court for the
District of Delaware to extend until April 2, 2012, the deadline
to assume or reject unexpired leases of nonresidential real
property.

Absent the extension, the Debtors' time to decide on leases will
expire on Jan. 3, 2012

The Debtors relate that it has engaged its efforts to effectuate a
sale of its business to a turnkey buyer who will acquire all or
substantially all of the assets used in the Debtors' business.
The Debtors believe that a a turnkey sale will provide the best
chance for the Debtors to maximize the value of its assets and to
reemploy certain of the employees who were terminated prior to the
commencement of the cases.  While no acceptable turnkey sale bid
was received by the bid deadline, parties continue to express
interest in acquiring Solyndra's assets on a turnkey basis.

Accordingly, Solyndra, in consultation with its key creditor
constituencies, determine that an extension of the date and
deadlines for the turnkey sale hearing was necessary and
appropriate.

Pursuant to the continued sale hearing notice, the Debtors
continued (i) the bid deadline to Jan. 17, 2012, at 4:00 p.m.
(prevailing Pacific Time); (ii) the auction date for the turnkey
sale to Jan. 19, 2012, at 10:00 a.m.; (iii) the objection deadline
to the turnkey sale motion to Jan. 20, at 12:00 p.m.; (iv) the
turnkey sale hearing to Jan. 23, at 1:30 a.m.

Accordingly, the Debtors believe that the prudent approach is to
allow parties to conduct additional due diligence with respect to
the continued turnkey sale hearing.

The Debtors set a Dec. 21, hearing at 11:30 a.m. on the requested
extension in the lease decision period.

                         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.

No trustee or examiner has been appointed in the case.

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.


SOUTHERN MONTANA: Trustee Seeks to Hire H&B as Counsel
------------------------------------------------------
Lee A. Freeman, in his capacity as duly appointed and acting
Chapter 11 Trustee in the bankruptcy case of Southern Montana
Electric Generation and Transmission Cooperative, Inc., seeks
permission from the U.S. Bankruptcy Court for the District of
Montana to retain Horowitz & Burnett, P.C., as his counsel.

As counsel, Horowitz & Burnett will:

   (a) provide legal advise to the Trustee with respect to his
       powers and duties and the continued management of the
       Debtor's business operations;

   (b) advise the Trustee with respect to his responsibilities in
       complying with the U.S. Trustee's Operating Guidelines and
       Reporting Requirements and with the rules of the Court;

   (c) prepare motions, pleadings, orders, applications,
       complaints, and other legal documents necessary in the
       administration of the case;

   (d) analyze claims and causes of action of the Debtor and
       object to claims and commence and prosecute adversary
       proceedings, as necessary, in the administration of the
       case;

   (e) represent the Trustee in negotiations with the Debtors'
       creditors to prepare a plan of reorganization or other exit
       plan, and prepare and prosecute same; and

   (f) otherwise protect the interests of the Trustee in all
       matters pending before the Court.

The current hourly rates for the attorneys and paralegals who may
be expected to work on this case are:

               John Cardinal Parks       $450/hour
               Bart B. Burnett           $425/hour
               Robert M. Horowitz        $425/hour
               Kevin S. Neiman           $310/hour
               Debra Howell              $90/hour
               Trulee Hoy                $90/hour

Horowitz & Burnett will also seek for reimbursement of expenses it
incurred in connection with its services.

To the best of the Trustee's knowledge, Horowitz & Burnett is a
"disinterested person" as defined in Section 101(14) of the
Bankruptcy Code.

The firm can be reached at:

                Robert M. Horowitz
                Horowitz & Burnett, P.C.
                1660 Lincoln Street, Suite 1900
                Denver, CO 80264
                Tel: 303-996-8600
                Fax: 303-996-8636
                Email: bhorowitz@hblegal.net

                   About Southern Montana Electric

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.


SOUTHERN MONTANA: Trustee Wants Waller & Womack as Local Counsel
----------------------------------------------------------------
Lee A. Freeman, in his capacity as duly appointed and acting
Chapter 11 Trustee in the bankruptcy case of Southern Montana
Electric Generation and Transmission Cooperative, Inc., seeks
permission from the U.S. Bankruptcy Court for the District of
Montana to retain Waller & Womack, P.C., as local counsel, with
the law firm of Horowitz & Burnett, P.C., to act as primary
bankruptcy counsel.

The professional services that Waller & Womack is to render
include providing legal advise to the Trustee and the law firm of
Horowitz & Burnett with respect to all aspects of the Chapter 11
bankruptcy proceeding.

The Trustee agreed that Joseph V. Womack will be paid $300 per
hour plus reimbursement for costs he incurred.

To be best knowledge of the Trustee, Waller & Womack is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

The firm can be reached at:

                   Joseph V. Womack
                   Waller & Womack, P.C.
                   Suite 805 US Bank Building
                   303 North Broadway
                   Billings, MT 59101
                   Tel: (406)252-7200
                   Fax: (406)252-4266
                   Email: jwomack@jvwlaw.com

                   About Southern Montana Electric

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.


SP NEWSPRINT: Section 341(a) Meeting Scheduled for Jan. 9
---------------------------------------------------------
The U.S. Trustee for Region 3 will convene a meeting of creditors
of SP Newsprint Holdings LLC on Jan. 3, 2012, at 9:00 a.m.  The
meeting will be held at J. Caleb Boggs Federal Building, 844 N.
King Street, 5th 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 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., at Cahill Gordon & Reindel LLP serve as the Debtors' lead
counsel.  Lee E. Kaufman, Esq., and Mark D. Collins, Esq., 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.

Counsel for GECC as Pre-Petition Agent are Richard A. Levy, Esq.,
and David Hammerman, Esq., at Latham & Watkins LLP; and Kurt F.
Gwynne, Esq., at Reed Smith LLP.

Counsel to Avenue Investments LP are John Bessonette, Esq., and
Douglas Mannal, Esq., at Kramer Levin Naftalis & Frankel LLP.


SPECTRAWATT INC: Unsecured Trade Creditors To Get 12% Recovery
--------------------------------------------------------------
SpectraWatt Inc. has filed a disclosure statement in connection
with the Debtor's Chapter 11 Plan of Liquidation dated Nov. 4,
2011.

The Plan contemplates the transfer of all of the Debtor's assets
into a Liquidating Trust for distribution to holders of Allowed
Claims by the Liquidating Trustee

The Plan incorporates an agreement between the Debtor and the
Series A-1 Noteholders, pursuant to which the Series A-1
Noteholders have permitted the Debtor to reserve certain proceeds
from the Debtor's sale* of substantially all of its physical
assets, as approved by the Bankruptcy Court on Oct. 7, 2011, and
to use those proceeds to satisfy certain claims, as provided in
the Plan.

*In an auction held Sept. 28, 2011, Canadian Solar, Inc., acquired
all capital equipment of SpectraWatt, Inc., for $4.945 million.

Further, the Series A-1 Noteholders have agreed that if the class
of general unsecured trade creditors vote in favor of the Plan,
the Series A-1 Noteholders will provide a recovery to holders of
Allowed General Unsecured Trade Claims equal to the percentage
recovery that the Series A-1 Noteholders have received on account
of their Secured Claims.  Such recovery is estimated to be
approximately 12%.

The Series A-1 Noteholders have further agreed that if the class
of general unsecured trade creditors (Class 6) votes in favor of
the Plan, the Series A-1 Noteholders will waive their substantial
deficiency claims, and the Debtor has agreed to waive its right to
pursue (or transfer to the Liquidating Trust) any Avoidance
Actions in that event.

Additionally, the Series A-1 Noteholders have agreed to fund a
wind-down reserve in an amount not less than $50,000 in order fund
the costs of winding down the Debtor's estate.

Under the Plan, Class 1 (Allowed Series A-1 Noteholder Secured
Claims), Class 2 (Allowed Crystalox Secured Claim), Class 3
(Allowed SUMCO Secured Claim), Class 6 (Allowed General Unsecured
Trade Claims), and Class 7 (Allowed Series A-1 Noteholder
Deficiency Claims) are Impaired and Entitled to Vote.

Votes will not be solicited from holders of Claims in Class 4
(Allowed Other Secured Claims) and Class 5 (Allowed Priority Non-
Tax Claims, which Classes are Unimpaired under the Plan.

All Interests in Class 8 will be deemed canceled and extinguished
without any further action of any party.

A copy of the disclosure statement with respect to the Debtor's
Plan of Liquidation, dated Nov. 4, 2011, is available for free at:

          http://bankrupt.com/misc/spectrawatt.dkt99.pdf

                      About SpectraWatt Inc.

Based in Hopewell Junction, New York, SpectraWatt Inc. was spun
off from Intel in June 2008 and raised $50 million through a sale
of preferred stock to its former parent and other investors
including Goldman Sachs Group Inc.'s Cogentrix Energy LLC, PCG
Clean Energy and Berlin-based solar panel maker Solon SE.  The
Company has also issued about $36.7 million in senior secured
convertible notes.

The Company has a manufacturing facility in Hopewell Junction
designed to generate over 200 megawatts of production per year.
The plant began operations in January 2010 with an initial
capacity of only 30 megawatts per year.

The Company began winding down its affairs late last year after
encountering setbacks and shut down the lone manufacturing
facility in March, and fired all its workers.

SpectraWatt filed a Chapter 11 petition (Bankr. S.D.N.Y. Case No.
11-37366) on Aug. 19, 2011, in Poughkeepsie, New York.

SpectraWatt estimated as much as $50 million in both debt and
assets as of the Chapter 11 filing.

Mark W. Wege, Esq., and Eric M. English, Esq., at King & Spalding
LLP, in Houston, Texas, and Scott I. Davidson, Esq., at King &
Spalding LLP, in New York, represent the Debtor as counsel.


T.J.E. LLC: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: T.J.E., LLC
        154 Westford Hill Road
        Ashford, CT 06278

Bankruptcy Case No.: 11-23443

Chapter 11 Petition Date: December 8, 2011

Court: United States Bankruptcy Court
       District of Connecticut (Hartford)

Judge: Albert S. Dabrowski

Debtor's Counsel: Benjamin R. Plourd, Esq.
                  Patrick W. Boatman, Esq.
                  LAW OFFICES OF PATRICK W. BOATMAN LLC
                  111 Founders Plaza, Suite 1000
                  East Hartford, CT 06108
                  Tel: (860) 291-9061
                  Fax: (860) 291-9073
                  E-mail: bplourd@boatmanlaw.com
                          pboatman@boatmanlaw.com

Scheduled Assets: $1,743,525

Scheduled Debts: $2,827,764

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ctb11-23443.pdf

The petition was signed by Jeffrey Love, managing member.


TN-K ENERGY: Closes Sale Agreement with K&K for $910,000
--------------------------------------------------------
TN-K Energy Group Inc., on Nov. 14, 2011, entered into a contract
for sale of oil & gas leasehold estate with King's Oil, LLC, and K
& K Acquisitions, LLC.

On Dec. 6, 2011, the Company closed on this transaction pursuant
to which the Company sold its working interest in the Charles and
Lynda Anderson lease in Clinton County, Kentucky, including all
well equipment, tanks, pumps, and related equipment, to K & K
Acquisitions, LLC, for an aggregate cash purchase price of
$910,000.  Pursuant to the terms of the agreement entered into
between the company, King's Oil, LLC, and the purchaser, the
Company assigned its working interest in the lease subject to the
following:

     * the Company retained a 5% interest in the lease, a 5%
       interest in certain specific wells and a 10% interest in
       certain additional wells, which will increase to 10%
       interest in the lease and a 10% interest in all wells at
       such time as the purchaser has recouped $850,000 of the
       purchase price; and

     * the Company agreed to pay or cause to the 20% working
       interest owners to pay 36.5% of the completion and/or
       plugging costs on two certain wells.

The Company presently expects to continue to be the operators of
this lease.

The Company paid legal expenses of $10,000 and a finder's fee to a
third party of $50,000 in this transaction.  The Company used
$510,500 of the proceeds to satisfy in full Guaranteed Contract
entered into in September 2010 with King's Oil, LLC related to
this lease.  The Company is using the balance of the proceeds for
working capital.

                         About TN-K Energy

Crossville, Tenn.-based TN-K Energy Group, Inc., an independent
oil exploration and production company, engaged in acquiring oil
leases and exploring and developing crude oil reserves and
production in the Appalachian basin.

The Company also reported net income before taxes of $1.88 million
on $846,065 of revenue for the nine months ended Sept. 30, 2011,
compared with net income before taxes of $3.41 million on $652,834
of revenue for the same period during the prior year.

The Company's balance sheet at Sept. 30, 2011, showed $2.93
million in total assets, $7.81 million in total liabilities and a
$4.88 million total stockholders' deficit.

As reported in the TCR on April 26, 2011, Sherb & Co., LLP, in New
York City, expressed substantial doubt about TN-K Energy'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 will have to obtain
additional financing to sustain operations.


VAN ZANT: Case Summary & 4 Largest Unsecured Creditors
------------------------------------------------------
Debtor: Van Zant, LLC
        80 Brookside Drive
        Greenwich, CT 06831

Bankruptcy Case No.: 11-52419

Chapter 11 Petition Date: December 7, 2011

Court: United States Bankruptcy Court
       District of Connecticut (Bridgeport)

Judge: Alan H.W. Shiff

Debtor's Counsel: Joseph J. Romanello, Esq.
                  ROMANELLO LAW FIRM
                  57 North Street, Ste. 304
                  Danbury, CT 06810
                  Tel: (203) 205-0891
                  E-mail: jjr@romanellolawfirm.com

Scheduled Assets: $960,000

Scheduled Debts: $1,361,000

A list of the Company's four largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ctb11-52419.pdf

The petition was signed by Joseph Gega, member.


ULTIMATE ESCAPES: Wins Confirmation of Liquidating Plan
-------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Ultimate Escapes Inc. won approval of a liquidating
Chapter 11 plan on Dec. 8.  In signing the confirmation order, the
bankruptcy judge in Delaware said the plan was supported by an
overwhelming vote, even though unsecured creditors with $126
million in claims are slated to recover 4 percent at most.

Mr. Rochelle relates that the assets were sold last year to
several buyers.  Secured lender CapitalSource Finance LLC
purchased most in exchange for $52.7 million in secured debt.
Laurence Development LP bought 10 properties for $14.3 million
cash.  One property went for $1.8 million cash and another for
$1.9 million.

                      About Ultimate Escapes

Ultimate Escapes, Inc. -- http://www.ultimateescapes.com/-- was a
luxury destination club that sold club memberships offering
members reservation rights to use its vacation properties, subject
to the rules of the club member's Club Membership Agreement.  The
Company's properties are located in various resort locations
throughout the world.

Kissimmee, Florida-based Ultimate Escapes Holdings, LLC, filed for
Chapter 11 bankruptcy protection (Bankr. D. Del. Case No.
10-12915) on Sept. 20, 2010.  Affiliates Ultimate Resort, LLC;
Ultimate Operations, LLC; Ultimate Resort Holdings, LLC; Ultimate
Escapes, Inc. (fka Secure America Acquisition Corporation); P & J
Partners, LLC; UE Holdco, LLC; UE Member, LLC, et al., filed
separate Chapter 11 petitions.

Scott D. Cousins, Esq., Sandra G. M. Selzer, Esq., and Nancy A.
Mitchell, Esq., at Greenberg Traurig LLP, assist the Debtors in
their restructuring efforts.  CRG Partners Group LLC is the
Debtors' chief restructuring officer.  BMC Group Inc. is the
Company's claims and notice agent.

Christopher A. Ward, Esq., Shanti M. Katona, Esq., and Peter W.
Ito, Esq., at Polsinelli Shughart PC, represent the Creditors
Committee.

Ultimate Escapes estimated assets at $10 million to $50 million
and debts at $100 million to $500 million as of the Petition Date.


WASHINGTON LOOP: Trustee Seeks to Retain JRS CPA as Accountants
---------------------------------------------------------------
Louis X. Amato, in his capacity as Chapter 11 Trustee in the
bankruptcy case of Washington Loop, LLC, seeks permission from the
U.S. Bankruptcy Court for the Middle District of Florida to retain
Joseph R. Schortz, C.P.A, PLLC, as accountants.

JRS CPA will, among other things:

   (1) compile the annual and month-end balance sheets and the
       related statements of income, retained earnings, and cash
       flows, or any other court requested reports of the Debtor
       for the year 2011 and issue an accountant's report thereon
       in accordance with Statements on Standards for Accounting
       and Review Services issued by the American Institute of
       Certified Public Accountants;

   (2) prepare the federal income tax return with supporting
       schedules;

   (3) prepare the state tangible personal property tax return;
       and

   (4) prepare any bookkeeping entries that are necessary in
       connection with preparation of the income tax returns.

The firm's hourly rates are:

             Engagement Manager        $230
             Senior Associate          $170
             Associate                 $140
             Bookkeeper                $100

The Trustee believes that although JRS CPA has performed
accounting services for the Debtor in the past, JRS CPA does not
hold any interest that are adverse to the Debtor or the Debtor's
estate.

                      About Washington Loop

Punta Gorda, Florida-based Washington Loop, LLC, operates an
aggregate mine in Charlotte County, Florida.  The Company owns two
parcels of real property and improvements -- the Loop Property and
the Mirror Lakes Property -- which, together, comprise roughly 474
adjoining acres in Punta Gorda, Charlotte County.  The Company
filed for Chapter 11 bankruptcy protection on March 31, 2011
(Bankr. M.D. Fla. Case No. 11-06053).  Judge Jeffery P. Hopkins
presides over the case. Steven M. Berman, Esq., and Hugo S.
deBeaubien, Esq., at Shumaker, Loop & Kendrick, LLP, in Tampa,
Fla., represent the Debtor as counsel.  The Debtor disclosed
$45,098,259 in assets and $19,703,694 in liabilities as of the
Chapter 11 filing.

The Debtor was dismissed from a prior Chapter 11 case (Case No.
10-27981) by order of the Court entered on March 17, 2011.  In the
prior Chapter 11 case, the Debtor's Schedule F, as filed under
penalty of perjury, listed some 34 general unsecured creditors
totaling claims of $1,953,354.  All Schedule F debts were listed
as non-contingent, liquidated, and undisputed.

The Debtor now declares that all Schedule F debts are
unliquidated.  These schedules were filed no less than two weeks
after the dismissal of the prior Chapter 11 case, and only six
weeks after the Debtor filed its Schedule F in that case.

Don Walton, the United States Trustee for Region 21, and Charles
A. Robinson Living Trust, creditor and interest holder against
Washington Loop, filed separate requests to convert the Debtor's
2011 Chapter 11 reorganization case to Chapter 7 liquidation.

Washington Loop filed with the Court a Chapter 11 plan and an
explanatory disclosure statement on Aug. 18, 2011.  The Troubled
Company Reporter published a summary of the Plan in its Sept. 6,
2011 edition.  The Plan is a reorganization plan accomplished
through the continuation of the Debtor's primary business: the
mining of the 750-acre property in Punta Gorda, Florida.  The
Debtor seeks to accomplish payment under the Plan primarily from
the proceeds of the sale of mining materials and or the refinance
of the Washington Loop Property.

The Plan proposes to pay secured creditors -- ROBBIE, Mirror Lakes
V, Mike Treworgy and Wells Fargo Equip Finance -- the present
value of their claim at a market interest rate over an 84-month
period through net income generated from the mining operation and
through a sale or refinance of the Washington Loop Property.  The
Effective Date of the proposed Plan is Dec. 15, 2011.  The first
payment due under the plan is Jan. 15, 2012.  Allowed Class 8
General Unsecured Claims will receive 100% of their allowed claim
on or before the 84th month following the Effective Date.

A full-text copy of the Disclosure Statement is available for free
at http://ResearchArchives.com/t/s?76c8

On Sept. 19, 2011, the Court appointed of Louis X. Amato as
Chapter 11 trustee, which is represented by Shumaker, Loop &
Kendrick, LLP.


WASHINGTON LOOP: Trustee Seeks to Hire Doughlas Wilson as Broker
----------------------------------------------------------------
Louis X. Amato, in his capacity as Chapter 11 Trustee for
Washington Loop, LLC, seeks permission from the U.S. Bankruptcy
Court for the Middle District of Florida to retain Douglas Wilson
Companies as broker nunc pro tunc to Dec. 1, 2011.  Mr. Amato
seeks to employ Douglas Wilson as broker for the purpose of
facilitating the sale of the Debtor's assets, including the
critical tasks of marketing the assets and managing the bids of
interested buyers.

The Debtor's Assets consist primarily of a 474 acre silica mine
and related personal property located at Punta Gorda, Florida.

Pursuant to the Marketing Proposal, Douglas Wilson would receive,
as compensation for its services as broker, a commission in the
amount of 1.5% of the total consideration from any sale in an
amount of more than $30,000,000.  Douglas Wilson would also
require payment in the amount of $5,000 to cover the costs of an
outside mine consultant.  Any additional costs incurred by the
outside consultant would be paid by Douglas Wilson from its
commission.

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

                       About Washington Loop

Punta Gorda, Florida-based Washington Loop, LLC, operates an
aggregate mine in Charlotte County, Florida.  The Company owns two
parcels of real property and improvements -- the Loop Property and
the Mirror Lakes Property -- which, together, comprise roughly 474
adjoining acres in Punta Gorda, Charlotte County.  The Company
filed for Chapter 11 bankruptcy protection on March 31, 2011
(Bankr. M.D. Fla. Case No. 11-06053).  Judge Jeffery P. Hopkins
presides over the case. Steven M. Berman, Esq., and Hugo S.
deBeaubien, Esq., at Shumaker, Loop & Kendrick, LLP, in Tampa,
Fla., represent the Debtor as counsel.  The Debtor disclosed
$45,098,259 in assets and $19,703,694 in liabilities as of the
Chapter 11 filing.

The Debtor was dismissed from a prior Chapter 11 case (Case No.
10-27981) by order of the Court entered on March 17, 2011.  In the
prior Chapter 11 case, the Debtor's Schedule F, as filed under
penalty of perjury, listed some 34 general unsecured creditors
totaling claims of $1,953,354.  All Schedule F debts were listed
as non-contingent, liquidated, and undisputed.

The Debtor now declares that all Schedule F debts are
unliquidated.  These schedules were filed no less than two weeks
after the dismissal of the prior Chapter 11 case, and only six
weeks after the Debtor filed its Schedule F in that case.

Don Walton, the United States Trustee for Region 21, and Charles
A. Robinson Living Trust, creditor and interest holder against
Washington Loop, filed separate requests to convert the Debtor's
2011 Chapter 11 reorganization case to Chapter 7 liquidation.

Washington Loop filed with the Court a Chapter 11 plan and an
explanatory disclosure statement on Aug. 18, 2011.  The Troubled
Company Reporter published a summary of the Plan in its Sept. 6,
2011 edition.  The Plan is a reorganization plan accomplished
through the continuation of the Debtor's primary business: the
mining of the 750-acre property in Punta Gorda, Florida.  The
Debtor seeks to accomplish payment under the Plan primarily from
the proceeds of the sale of mining materials and or the refinance
of the Washington Loop Property.

The Plan proposes to pay secured creditors -- ROBBIE, Mirror Lakes
V, Mike Treworgy and Wells Fargo Equip Finance -- the present
value of their claim at a market interest rate over an 84-month
period through net income generated from the mining operation and
through a sale or refinance of the Washington Loop Property.  The
Effective Date of the proposed Plan is Dec. 15, 2011.  The first
payment due under the plan is Jan. 15, 2012.  Allowed Class 8
General Unsecured Claims will receive 100% of their allowed claim
on or before the 84th month following the Effective Date.

A full-text copy of the Disclosure Statement is available for free
at http://ResearchArchives.com/t/s?76c8

On Sept. 19, 2011, the Court appointed of Louis X. Amato as
Chapter 11 trustee, which is represented by Shumaker, Loop &
Kendrick, LLP.


WASHINGTON LOOP: Trustee Seeks to Retain Insider as Consultant
--------------------------------------------------------------
Louis X. Amato, in his capacity as Chapter 11 Trustee for
Washington Loop, LLC, seeks permission from the U.S. Bankruptcy
Court for the Middle District of Florida to retain Lovina Lehr as
consultant nunc pro tunc to Oct. 1, 2011.

Ms. Lehr is a principal of the Debtor and was primarily
responsible for overseeing and managing the Debtor's operations
from before the Petition Date through Sept. 18, 2011.

The Trustee believes that the value of Ms. Lehr's services to be
rendered to the Debtor as a consultant is approximately $3,000 per
month.


                      About Washington Loop

Punta Gorda, Florida-based Washington Loop, LLC, operates an
aggregate mine in Charlotte County, Florida.  The Company owns two
parcels of real property and improvements -- the Loop Property and
the Mirror Lakes Property -- which, together, comprise roughly 474
adjoining acres in Punta Gorda, Charlotte County.  The Company
filed for Chapter 11 bankruptcy protection on March 31, 2011
(Bankr. M.D. Fla. Case No. 11-06053).  Judge Jeffery P. Hopkins
presides over the case. Steven M. Berman, Esq., and Hugo S.
deBeaubien, Esq., at Shumaker, Loop & Kendrick, LLP, in Tampa,
Fla., represent the Debtor as counsel.  The Debtor disclosed
$45,098,259 in assets and $19,703,694 in liabilities as of the
Chapter 11 filing.

The Debtor was dismissed from a prior Chapter 11 case (Case No.
10-27981) by order of the Court entered on March 17, 2011.  In the
prior Chapter 11 case, the Debtor's Schedule F, as filed under
penalty of perjury, listed some 34 general unsecured creditors
totaling claims of $1,953,354.  All Schedule F debts were listed
as non-contingent, liquidated, and undisputed.

The Debtor now declares that all Schedule F debts are
unliquidated.  These schedules were filed no less than two weeks
after the dismissal of the prior Chapter 11 case, and only six
weeks after the Debtor filed its Schedule F in that case.

Don Walton, the United States Trustee for Region 21, and Charles
A. Robinson Living Trust, creditor and interest holder against
Washington Loop, filed separate requests to convert the Debtor's
2011 Chapter 11 reorganization case to Chapter 7 liquidation.

Washington Loop filed with the Court a Chapter 11 plan and an
explanatory disclosure statement on Aug. 18, 2011.  The Troubled
Company Reporter published a summary of the Plan in its Sept. 6,
2011 edition.  The Plan is a reorganization plan accomplished
through the continuation of the Debtor's primary business: the
mining of the 750-acre property in Punta Gorda, Florida.  The
Debtor seeks to accomplish payment under the Plan primarily from
the proceeds of the sale of mining materials and or the refinance
of the Washington Loop Property.

The Plan proposes to pay secured creditors -- ROBBIE, Mirror Lakes
V, Mike Treworgy and Wells Fargo Equip Finance -- the present
value of their claim at a market interest rate over an 84-month
period through net income generated from the mining operation and
through a sale or refinance of the Washington Loop Property.  The
Effective Date of the proposed Plan is Dec. 15, 2011.  The first
payment due under the plan is Jan. 15, 2012.  Allowed Class 8
General Unsecured Claims will receive 100% of their allowed claim
on or before the 84th month following the Effective Date.

A full-text copy of the Disclosure Statement is available for free
at http://ResearchArchives.com/t/s?76c8

On Sept. 19, 2011, the Court appointed of Louis X. Amato as
Chapter 11 trustee, which is represented by Shumaker, Loop &
Kendrick, LLP.


WINDOW FACTORY: Involuntary Chapter 11 Case Summary
---------------------------------------------------
Alleged Debtor: The Window Factory, Inc.
                9323 Activity Road, Suite C
                San Diego, CA 92126

Case Number: 11-19842

Involuntary Chapter 11 Petition Date: December 8, 2011

Court: Southern District of California (San Diego)

Judge: Laura S. Taylor

Petitioners' Counsel: Jeffrey D. Schreiber, Esq.
                      THE SCHREIBER LAW FIRM
                      2635 Camino Del Rio South, Suite 301
                      San Diego, CA 92108
                      Tel: (619) 269-8600
                      E-mail: jschreiber@msn.com

Chapter 11 petitioners:

Petitioner               Nature of Claim        Claim Amount
----------               ---------------        ------------
American Integrity       manufactured windows   $393,734
Corp.                    supplied to Debtor
P.O. Box 999
Apple Valley, CA 92307

Ajit Ahooja              consulting for         $10,675
10531 Commons Drive      accounting services
# 170
San Diego, CA 92127

Herde Computer           computer network       $4,500
Services                 repairs
2830 Echo Valley Road
Jamul, CA 91935     


WYSTERIA LLC: Section 341(a) Meeting Continued Until Jan. 3
-----------------------------------------------------------
The U.S. Trustee for Region 17 has continued the first meeting of
creditors in the Chapter 11 case of Wysteria, LLC from Dec. 27,
2011, until Jan. 3, 2012, at 9:00 a.m.  The meeting will be held
at 235 Pine Street, Suite 850, San Francisco, California.

The meeting was initially scheduled for Dec. 27, 2011.

Wysteria, LLC, filed for Chapter 11 bankruptcy (Bankr. N.D. Calif.
Case No. 11-34171) on Nov. 18, 2011.  The Company estimated assets
of $10 million to $50 million and estimated debts of $10 million
to $50 million.  The petition was signed by Stephen H. Kendrick,
as manager.  Judge Dennis Montali presides the case.  The Debtor
is represented by Joel K. Belway, Esq., at the Law Offices of Joel
K. Belway.


XTL BIOPHARMACEUTICALS: Posts $337,000 Net Loss in Third Quarter
----------------------------------------------------------------
In a Form 6-K filed with the U.S. Securities and Exchange
Commission on Nov. 25, 2011, XTL Biopharmaceuticals Ltd. attached
an English translation (from Hebrew) of the Company's interim
financial statements for the three months ended Sept. 30, 2011, as
submitted on the Tel Aviv Stock Exchange.

The Company reported a net loss of US$337,000 for the three months
ended Sept. 30, 2011, compared with a net loss of US$290,000 for
the same period of 2010.

The Company reported a net loss of US$919,000 for the nine months
ended Sept. 30, 2011, compared with a net loss of US$942,000 for
the same period last year.

The Company has no revenues from operations at this stage and
funds its operations from its own capital and from external
sources by way of issuing equity instruments.

The Company's balance sheet at Sept. 30, 2011, showed
US$4.4 million in total assets, US$643,000 in total liabilities,
and stockholders' equity of US$3.7 million.

As reported in the TCR on April 6, 2011, Kesselman & Kesselman, in
Tel-Aviv, Israel, expressed substantial doubt about XTL
Biopharmaceuticals' ability to continue as a going concern,
following the Company's 2010 results.  The independent auditors
noted that during the period ended on Dec. 31, 2010, the Company
had a loss in the amount of $1.3 million and a negative cash flow
from operating activities of $735,000.

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

                      http://is.gd/rEKi97

Herzliya, Israel-based XTL Biopharmaceuticals Ltd. is engaged in
the development of therapeutics, among others, for the treatment
of unmet medical needs, improvement of existing medical treatment
and business development in the medical realm.  The Company was
incorporated under the Israeli Companies Ordinance on March 9,
1993.  The Company owns 100% of Xtepo Ltd. and owns 100% of a U.S.
company, XTL Biopharmaceuticals Inc., which was incorporated in
1999 under the laws of the State of Delaware.

The Company is in the planning and preparation stages for
implementing Phase 2 clinical trial of rHuEPO drug designed to
treat cancer patients with multiple myeloma.

Further, the Company has certain milestone rights in the
development of treatment for hepatitis C ("DOS") from Presidio
Pharmaceuticals Inc. ("Presidio"), a U.S. biotechnology company.


ZIONS BANCORP: Fitch Affirms Subordinated Debt Rating at 'BB+'
--------------------------------------------------------------
Fitch Ratings has affirmed the long- and short-term Issuer Default
Ratings (IDRs) for Zions Bancorporation (ZION) at 'BBB-/F3'.  The
Rating Outlook is Stable.

Fitch's rating action is supported by the continued improvement in
ZION's asset quality metrics.  ZION's non-performing assets (NPAs)
as a percentage of gross loans plus other real estate owned (OREO)
was 4.88% as of Sept. 30, 2011, down from 5.44% at June 30, 2011,
and 5.81% at March 31, 2011.  Additionally, the absolute dollar
amount of NPAs has declined to $1.8 billion at Sept. 30, 2011 from
$2.36 billion at year-end (YE) 2010.

Similarly, ZION's net-charge-offs (NCOs) have declined over the
course of the year, and as of the quarter ending Sept. 30, 2011
amounted to 1.11% on an annualized basis.  Fitch believes ZION's
reserve remains adequate at 3.13% of gross loans as of Sept. 30,
2011.

The rating action is also supported by ZION's return to
profitability in 2011, after the company had reported losses
throughout 2009 and 2010.  While Fitch notes that the majority of
this profitability was due to reserve releases, it would further
expects that future profit growth will largely be predicated on
ZION's ability to meaningfully and measurably grow loans over
time, as future benefit from potential reserve releases should
be more modest.

Fitch continues to view ZION's approach to managing capital as
somewhat aggressive.  The company's tangible common equity (TCE)
ratio was 6.89% as of Sept. 30, 2011, down modestly from 6.98% at
YE2010.  However, Fitch further notes that ZION's capital ratios
remain adequate for its present rating level, even though ratios
remain slightly lower than those of some similarly rated entities.

Fitch believes that ZION's existing capital ratios combined with
the better asset quality performance and improved profitability
support a Stable Rating Outlook.

Even with this viewpoint, Fitch notes that unlike some large
regional bank peers who have progressed much more quickly in the
wake of the credit crisis, ZION still has a number of challenges
ahead of it as it continues to work to repair its business.  Fitch
notes that these challenges have already been incorporated into
the company's current ratings.

Fitch believes ZION will look to repay its $1.4 billion of TARP
shares to the U.S. Treasury at some point in 2012.  Given that
ZION is classified as a CapPR bank, and therefore subject to
stress tests from the Federal Reserve in early 2012.  Fitch does
not expect the company to try repay its TARP shares until some
point in 2012.

ZION will also continue to deal with its problematic bank and
insurance company TRUPs CDO portfolio.  On balance, current trends
of paydowns and prepayments have been favorable, and performance
of these securities is further supported by the maintenance of the
company's total return swap with Deutsche Bank.

Fitch would also note that ZION continues to have an outsize
exposure to commercial real estate (CRE).  In Fitch's view,
performance to date of these portfolios has been satisfactory.
However, given that historically CRE losses have tended to lag
an economic recovery, Fitch continues to view this exposure
cautiously, particularly given ZION's exposure to some of the more
troubled western state economies.

Given the challenges detailed above, Fitch considers that ZION's
ratings are comfortably situated at the current levels.

Longer term, however, ZION's ratings could be positively impacted
if it is able to work down its problem assets to sustainable
levels, continue to deal with its CDO portfolio, eventually repay
TARP, and improve core profitability through meaningful and
measured loan growth.  Moreover, this would need to occur against
the backdrop of enhancing capital ratios to at least its peer
group averages.

With $51 billion in assets, ZION operates eight separately branded
bank charters doing business in 10 western states.

Fitch has affirmed the following ratings:

Zions Bancorporation

  -- Long-term Issuer Default Rating (IDR) at 'BBB-';
  -- Short-term IDR at 'F3';
  -- Viability at 'bbb-';
  -- Commercial paper at 'F3';
  -- Senior unsecured debt at 'BBB-';
  -- Subordinated debt at 'BB+';
  -- Preferred stock to 'BB';
  -- Individual at 'C';
  -- FDIC guaranteed long-term debt at 'AAA';
  -- FDIC guaranteed short-term debt at 'F1+';
  -- Support at '5';
  -- Support Floor at 'NF'.

Zions First National Bank
Amegy Bank, NA
California Bank & Trust
Nevada State Bank
National Bank of Arizona
Vectra Bank Colorado, NA
The Commerce Bank of Oregon
The Commerce Bank of Washington

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

Zions Institutional Capital Trust A

  -- Preferred stock at 'BB'.

The Rating Outlook is Stable.


* U.S. Trustee Can't Conduct Nationwide Probe
---------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that although the U.S. Trustee has the right to conduct an
investigation into how a bank lender dealt with a bankrupt, the
U.S. Trustee doesn't have the right to use a single bankruptcy
case to investigate a bank's conduct with other borrowers, U.S.
District Judge Robert C. Jones in Reno, Nevada, ruled on Dec. 7.
Judge Jones concluded in his 10-page opinion that investigations
under Rule 2004 of the Federal Rules of Bankruptcy Procedure are
"limited to the debtor-creditor relationship."  The rule, he said
in reversing the bankruptcy court, "does not permit a party in
interest to conduct a nationwide investigation into policies,
procedures and conduct unrelated to the bankruptcy case at hand."

The case is Bank of America NA v. Landis, 11-1338, U.S. Bankruptcy
Court, District of Nevada (Reno).


* Recent Small-Dollar & Individual Chapter 11 Filings
-----------------------------------------------------

In Re 232 Second Holdings, LLC
   Bankr. D. N.J. Case No. 11-44018
      Chapter 11 Petition filed November 29, 2011
         See http://bankrupt.com/misc/njb11-44018.pdf
         represented by: Timothy P. Neumann, Esq.
                         Broege, Neumann, Fischer & Shaver
                         E-mail: tneumann@bnfsbankruptcy.com

In Re 20-24 WALL STREET ASSOCIATES, LLC
   Bankr. E.D.N.Y. Case No. 11-50008
      Chapter 11 Petition filed November 29, 2011
         See http://bankrupt.com/misc/nyeb11-50008.pdf
         represented by: Edward E. Neiger, Esq.
                         Neiger LLP
                         E-mail: eneiger@neigerllp.com

In Re Tash, Inc.
   Bankr. W.D. Okla. Case No. 11-16424
      Chapter 11 Petition filed November 29, 2011
         See http://bankrupt.com/misc/okwb11-16424.pdf
         represented by: Gary L. Morrissey, Esq.
                         E-mail: g.morrissey@yahoo.com

In Re J.E.D. Services, Inc.
   Bankr. W.D. Pa. Case No. 11-27201
      Chapter 11 Petition filed November 29, 2011
         See http://bankrupt.com/misc/pawb11-27201.pdf
         represented by: Jason J. Mazzei, Esq.
                         Mazzei & Associates
                         E-mail: ecf@debt-be-gone.com

In Re FRALEX Corp.
        aka Alexfra Corp
        aka Text Zone Libreria
   Bankr. D. Puerto Rico Case No. 11-10185
      Chapter 11 Petition filed November 29, 2011
         See http://bankrupt.com/misc/prb11-10185.pdf
         represented by: Jacqueline Hernandez Santiago, Esq.
                         E-mail: quiebras1@gmail.com

In Re Alves Productions, Inc.
   Bankr. D. R.I. Case No. 11-14464
      Chapter 11 Petition filed November 29, 2011
         See http://bankrupt.com/misc/rib11-14464.pdf
         represented by: Peter J. Furness, Esq.
                         Sinapi Formisano & Co
                         E-mail: pjf@sfclaw.com

In Re Tokyohana, Inc.
        dba Tokyohana Grill & Sushi Barw
   Bankr. S.D. Texas Case No. 11-39942
      Chapter 11 Petition filed November 29, 2011
         See http://bankrupt.com/misc/txsb11-39942.pdf
         represented by: Margaret Maxwell McClure, Esq.
                         E-mail: margaret@mmmcclurelaw.com


In Re Kerry Lynn London Enterprises LLC
   Bankr. W.D. Wash. Case No. 11-49257
      Chapter 11 Petition filed November 29, 2011
         See http://bankrupt.com/misc/wawb11-49257.pdf
         represented by: Jessica M. Jensen, Esq.
                         Jessica Jensen Law, PS
                         E-mail: jessica@jessicajensenlaw.com

In Re Homematic On-Line Inc.
   Bankr. D. N.J. Case No. 11-44107
      Chapter 11 Petition filed November 30, 2011
         represented by: Nicholas Khoudary, Esq.
                         E-mail: NKhoudary@aol.com

In Re Preskel Specialty Foods Inc.
        aka Fratellis Market Place
   Bankr. E.D.N.Y. Case No. 11-50045
      Chapter 11 Petition filed November 30, 2011
         See http://bankrupt.com/misc/nyeb11-50045.pdf
         represented by: Nestor Rosado, Esq.
                         Law Office of Nestor Rosado PC
                         E-mail: neslaw2@msn.com

In Re J & J Builder Contractor, Inc.
   Bankr. D. Puerto Rico Case No. 11-10235
      Chapter 11 Petition filed November 30, 2011
         See http://bankrupt.com/misc/prb11-10235.pdf
         represented by: Antonio I Hernandez Santiago, Esq.
                         Antonio I Hernandez Santiago Law Of
                         E-mail: ahernandezlaw@yahoo.com

In Re Harbor Lights Development LLC
   Bankr. W.D. Wash. Case No. 11-23795
      Chapter 11 Petition filed November 30, 2011
         See http://bankrupt.com/misc/wawb11-23795.pdf
         represented by: Larry B. Feinstein, Esq.
                         Vortman & Feinstein
                         E-mail: feinstein2010@gmail.com

In Re DIZ, L.L.C.
        dba D'Arcy McGee's Irish Restaurant and Pub
   Bankr. D. Ariz. Case No. 11-33020
      Chapter 11 Petition filed December 1, 2011
         See http://bankrupt.com/misc/azb11-33020.pdf
         represented by: Daniel P. Collins, Esq.
                         Collins, May, Potenza, Baran & Gillespie
                         E-mail: dcollins@cmpbglaw.com

In Re Inspirations Group Home, LLC
   Bankr. D. Ariz. Case No. 11-33009
      Chapter 11 Petition filed December 1, 2011
         See http://bankrupt.com/misc/azb11-33009.pdf
         represented by: James Portman Webster, Esq.
                         James Portman Webster, PLLC
                         E-mail: jim@jpwlegal.com

In Re Athena Gianakakos
   Bankr. C.D. Calif. Case No. 11-26534
      Chapter 11 Petition filed December 1, 2011

In Re Emad & Katerina Moawad Dental Corporation
        dba Alegria Dental Center
   Bankr. C.D. Calif. Case No. 11-59290
      Chapter 11 Petition filed December 1, 2011
         See http://bankrupt.com/misc/cacb11-59290.pdf
         represented by: John D. Monte, Esq.
                         E-mail:  johnmontelaw@gmail.com

In Re Erlinda Koo
   Bankr. C.D. Calif. Case No. 11-59180
      Chapter 11 Petition filed December 1, 2011

In Re Gary Leavitt
   Bankr. C.D. Calif. Case No. 11-46514
      Chapter 11 Petition filed December 1, 2011

In Re Leona Williams
   Bankr. C.D. Calif. Case No. 11-46513
      Chapter 11 Petition filed December 1, 2011

In Re Gilberto Ledesma
   Bankr. S.D. Calif. Case No. 11-19597
      Chapter 11 Petition filed December 1, 2011

In Re A.B.C. Landclearing and Development, LLC
   Bankr. M.D. Fla. Case No. 11-18041
      Chapter 11 Petition filed December 1, 2011
         See http://bankrupt.com/misc/flmb11-18041.pdf
         represented by: Michael A. Paasch, Esq.
                         Mateer & Harbert PA
                         E-mail: mpaasch@mateerharbert.com

In Re Elias Yaman
   Bankr. M.D. Fla. Case No. 11-22147
      Chapter 11 Petition filed December 1, 2011

In Re Terry Booker
   Bankr. N.D. Fla. Case No. 11-50631
      Chapter 11 Petition filed December 1, 2011

In Re Gregory Elliott
   Bankr. N.D. Ill. Case No. 11-48511
      Chapter 11 Petition filed December 1, 2011

In Re Midwest Direct Mailers, L.L.C.
   Bankr. N.D. Ill. Case No. 11-48614
      Chapter 11 Petition filed December 1, 2011
         See http://bankrupt.com/misc/ilnb11-48614.pdf
         represented by: Richard N Golding, Esq.
                         The Golding Law Offices, P.C.
                         E-mail: rgolding@goldinglaw.net

In Re Sportsman's Hall, LLC
        dba Sportsman's Hall Roller Skating Rink
   Bankr. D. Md. Case No. 11-33527
      Chapter 11 Petition filed December 1, 2011
         See http://bankrupt.com/misc/mdb11-33527.pdf
         represented by: Edward M. Miller, Esq.
                         Miller and Miller, LLP
                         E-mail: mmllplawyers@verizon.net

In Re Badran Investment, LLC
   Bankr. E.D. Mich. Case No. 11-70820
      Chapter 11 Petition filed December 1, 2011
         See http://bankrupt.com/misc/mieb11-70820.pdf
         represented by: Robert N. Bassel, Esq.
                         E-mail: bbassel@gmail.com

In Re East Holly Oil, Inc.
   Bankr. E.D. Mich. Case No. 11-70821
      Chapter 11 Petition filed December 1, 2011
         See http://bankrupt.com/misc/mieb11-70821.pdf
         represented by: Robert N. Bassel, Esq.
                         E-mail: bbassel@gmail.com

In Re S & V Investment, LLC
   Bankr. E.D. Mich. Case No. 11-70805
      Chapter 11 Petition filed December 1, 2011
         See http://bankrupt.com/misc/mieb11-70805p.pdf
         See http://bankrupt.com/misc/mieb11-70805c.pdf
         represented by: Michael A. Greiner, Esq.
                         Financial Law Group, P.C.
                         E-mail: mike@financiallawgroup.com

In Re Anthony Desmoni
   Bankr. D. Nev. Case No. 11-28643
      Chapter 11 Petition filed December 1, 2011

In Re Jacques Magloire
   Bankr. D. N.J. Case No. 11-44469
      Chapter 11 Petition filed December 1, 2011

In Re 656 Myrtle Avenue Realty Corp.
   Bankr. E.D.N.Y. Case No. 11-50122
      Chapter 11 Petition filed December 1, 2011
         See http://bankrupt.com/misc/nyeb11-50122.pdf
         represented by: Barry N. Frank, Esq.
                         Abraham Frank and Associates PC
                         E-mail: abfra@optonline.net

In Re Kathy & Tania, Inc.
        aka Kathy & Tanya, Inc.
   Bankr. E.D.N.Y. Case No. 11-50124
      Chapter 11 Petition filed December 1, 2011
         See http://bankrupt.com/misc/nyeb11-50124.pdf
         represented by: Barry N. Frank, Esq.
                         Abraham Frank and Associates PC
                         E-mail: abfra@optonline.net

In Re Wanda Brooks
   Bankr. W.D. N.C. Case No. 11-11167
      Chapter 11 Petition filed December 1, 2011

In Re Ruben Aponte-Negron
   Bankr. D. Puerto Rico Case No. 11-10371
      Chapter 11 Petition filed December 1, 2011

In Re 441 Express, LLC
   Bankr. W.D. Tenn. Case No. 11-13613
      Chapter 11 Petition filed December 1, 2011
         See http://bankrupt.com/misc/tnwb11-13613.pdf
         represented by: Michael T. Tabor, Esq.
                         Regional Bankruptcy Center of SE PA
                         E-mail: marissav@bellsouth.net

In Re Lawrence Mealer
   Bankr. N.D. Texas Case No. 11-37520
      Chapter 11 Petition filed December 1, 2011

In Re Resolution Systems, Inc.
   Bankr. D. Utah Case No. 11-37085
      Chapter 11 Petition filed December 1, 2011
         filed pro se

In Re Cambridge Development LLC
   Bankr. S.D. W.Va. Case No. 11-30737
      Chapter 11 Petition filed December 1, 2011
         See http://bankrupt.com/misc/wvsb11-30737.pdf
         represented by: Joe M. Supple, Esq.
                         Seifert Law Office
                         E-mail: supplelawoffice@yahoo.com

In Re Prospect Street Homes LLC
   Bankr. W.D. Wash. Case No. 11-23903
      Chapter 11 Petition filed December 1, 2011
         See http://bankrupt.com/misc/wawb11-23903.pdf
         represented by: Sten E. Sorby, Esq.
                         Law Office of Sten E. Sorby
                         E-mail: sten@stensorbylaw.com

In Re Glen Curtis, Inc.
   Bankr. D. Ariz. Case No. 11-33109
      Chapter 11 Petition filed December 2, 2011
         See http://bankrupt.com/misc/azb11-33109.pdf
         represented by: Scott H. Gan, Esq.
                         Mesch, Clark & Rothschild, P.C.
                         E-mail: ecfbk@mcrazlaw.com

In Re Glen Curtis Development, Inc.
   Bankr. D. Ariz. Case No. 11-33112
      Chapter 11 Petition filed December 2, 2011
         See http://bankrupt.com/misc/azb11-33112.pdf
         represented by: Scott H. Gan, Esq.
                         Mesch, Clark & Rothschild, P.C.
                         E-mail: ecfbk@mcrazlaw.com

In Re John Cork
   Bankr. D. Ariz. Case No. 11-33110
      Chapter 11 Petition filed December 2, 2011

In Re Melvin Roberts
   Bankr. D. Ariz. Case No. 11-33100
      Chapter 11 Petition filed December 2, 2011

In Re Tim Bean
   Bankr. W.D. Ark. Case No. 11-75310
      Chapter 11 Petition filed December 2, 2011

In Re Clutchnet Corporation
   Bankr. C.D. Calif. Case No. 11-59339
      Chapter 11 Petition filed December 2, 2011
         See http://bankrupt.com/misc/cacb11-59339.pdf
         represented by: William G. Cort, Esq.
                         E-mail:  williamcortcsc@gmail.com

In Re Korinth Enterprises Incorporated
   Bankr. C.D. Calif. Case No. 11-23918
      Chapter 11 Petition filed December 2, 2011
         See http://bankrupt.com/misc/cacb11-23918.pdf
         represented by: R Grace Rodriguez, Esq.
                         E-mail:  ecf@lorgr.com

In Re Pamela McDonald
   Bankr. C.D. Calif. Case No. 11-26564
      Chapter 11 Petition filed December 2, 2011

In Re Steve Zarougian
   Bankr. C.D. Calif. Case No. 11-59298
      Chapter 11 Petition filed December 2, 2011

In Re Dominic DePalma
   Bankr. E.D. Calif. Case No. 11-94146
      Chapter 11 Petition filed December 2, 2011

In Re Julie Yarbrough-Langford
   Bankr. N.D. Calif. Case No. 11-72693
      Chapter 11 Petition filed December 2, 2011

In Re Maria Tolosa-Sison
   Bankr. N.D. Calif. Case No. 11-34331
      Chapter 11 Petition filed December 2, 2011

In Re Reynaldo Guinto
   Bankr. N.D. Calif. Case No. 11-72672
      Chapter 11 Petition filed December 2, 2011

In Re Robert Alarcon
   Bankr. N.D. Calif. Case No. 11-61100
      Chapter 11 Petition filed December 2, 2011

In Re Taikun Investments, Inc.
        dba Vine Cottage
   Bankr. S.D. Calif. Case No. 11-19638
      Chapter 11 Petition filed December 2, 2011
         See http://bankrupt.com/misc/casb11-19638.pdf
         represented by: Quintin G. Shammam, Esq.
                         E-mail: Quintin@shammamlaw.com

In Re Richard Haisfield
   Bankr. M.D. Fla. Case No. 11-08765
      Chapter 11 Petition filed December 2, 2011

In Re Sunrise Royal Plaza LLC
   Bankr. S.D. Fla. Case No. 11-43290
      Chapter 11 Petition filed December 2, 2011
         See http://bankrupt.com/misc/flsb11-43290.pdf
         represented by: Joel M. Aresty, Esq.
                         Mateer & Harbert PA
                         E-mail: aresty@mac.com

In Re Jain Properties LLC
   Bankr. N.D. Ga. Case No. 11-84320
      Chapter 11 Petition filed December 2, 2011
         filed pro se

In Re LaBruzzo Enterprises, LLC
   Bankr. N.D. Ga. Case No. 11-13956
      Chapter 11 Petition filed December 2, 2011
         See http://bankrupt.com/misc/ganb11-13956.pdf
         represented by: H. Matthew Horne, Esq.
                         Rosenzweig, Jones, Horne & Griffis, P.C.
                         E-mail: matt@newnanlaw.com

In Re Pine Forest Associates, LP
   Bankr. N.D. Ga. Case No. 11-44019
      Chapter 11 Petition filed December 2, 2011
         filed pro se

In Re Thankful Missionary Baptist Church
   Bankr. S.D. Ga. Case No. 11-12432
      Chapter 11 Petition filed December 2, 2011
         See http://bankrupt.com/misc/gasb11-12432.pdf
         represented by: Evita A. Paschall, Esq.
                         E-mail: fopaschall@paschallpc.com

In Re Robin Melancon
   Bankr. M.D. La. Case No. 11-11888
      Chapter 11 Petition filed December 2, 2011

In Re HPCH, LLC
   Bankr. D. Nev. Case No. 11-28681
      Chapter 11 Petition filed December 2, 2011
         See http://bankrupt.com/misc/nvb11-28681p.pdf
         See http://bankrupt.com/misc/nvb11-28681c.pdf
         represented by: P Sterling Kerr, Esq.
                         Law Offices Of P. Sterling Kerr
                         E-mail: psklaw@aol.com

In Re Kaveh Ghafouria
   Bankr. D. Nev. Case No. 11-28668
      Chapter 11 Petition filed December 2, 2011

In Re Total Touch-Up, Inc.
   Bankr. D. Nev. Case No. 11-53698
      Chapter 11 Petition filed December 2, 2011
         filed pro se

In Re Christopher Street, L.P.
        dba 50 Christopher Street, L.P.
   Bankr. D. N.J. Case No. 11-44630
      Chapter 11 Petition filed December 2, 2011
         See http://bankrupt.com/misc/njb11-44630.pdf
         represented by: John F. Bracaglia, Jr., Esq.
                         Cohn, Bracaglia & Gropper
                         E-mail:  lbrokaw@cbglawyers.com

In Re Dingman Data Systems, Ltd.
   Bankr. E.D.N.Y. Case No. 11-78457
      Chapter 11 Petition filed December 2, 2011
         See http://bankrupt.com/misc/nyeb11-78457.pdf
         represented by: Daniel W Nieroda, Jr., Esq.
                         Nieroda & Nieroda, P.C.
                         E-mail: nycounsl@optonline.net

In Re 6 North Street Corp.
   Bankr. S.D.N.Y. Case No. 11-24356
      Chapter 11 Petition filed December 2, 2011
         See http://bankrupt.com/misc/nysb11-24356.pdf
         represented by: Marc A. Pergament, Esq.
                         Weinberg, Gross & Pergament, LLP
                         E-mail: mpergament@wgplaw.com

In Re Amos Green Optics, Inc.
   Bankr. E.D. Pa. Case No. 11-19225
      Chapter 11 Petition filed December 2, 2011
         See http://bankrupt.com/misc/paeb11-19225p.pdf
         See http://bankrupt.com/misc/paeb11-19225c.pdf
         represented by: Roger V. Ashodian, Esq.
                         Regional Bankruptcy Center of SE PA
                         E-mail: rashodian@schollashodian.com

In Re Gonzalo Quesada Franco
   Bankr. D. Puerto Rico Case No. 11-10403
      Chapter 11 Petition filed December 2, 2011

In Re Jackie Giddy
   Bankr. E.D. Tenn. Case No. 11-16670
      Chapter 11 Petition filed December 2, 2011


In Re Dalene White
   Bankr. W.D. Texas Case No. 11-54140
      Chapter 11 Petition filed December 2, 2011

In Re Rulon Huntsman
   Bankr. D. Utah Case No. 11-37153
      Chapter 11 Petition filed December 2, 2011

In Re Steven Maynard
   Bankr. W.D. Wash. Case No. 11-23943
      Chapter 11 Petition filed December 2, 2011

In Re Whitetail Woods, LLC
   Bankr. E.D. Wis. Case No. 11-37946
      Chapter 11 Petition filed December 2, 2011
         See http://bankrupt.com/misc/wieb11-37946.pdf
         represented by: Joseph W. Seifert, Esq.
                         Seifert Law Office
                         E-mail: seifert38@gmail.com

In Re Walter Robinson Post No 450 The American Legion
   Bankr. W.D. Pa. Case No. 11-27318
      Chapter 11 Petition filed December 3, 2011
         See http://bankrupt.com/misc/pawb11-27318.pdf
         represented by: Stephen J. Jurman, Esq.
                         E-mail: stephen@jurmanlaw.com

In Re Jorge Olivera
   Bankr. W.D. Texas Case No. 11-32379
      Chapter 11 Petition filed December 3, 2011

In Re Ahmer Syed
   Bankr. C.D. Calif. Case No. 11-59499
      Chapter 11 Petition filed December 4, 2011

In Re Laarni Omingo
   Bankr. C.D. Calif. Case No. 11-26624
      Chapter 11 Petition filed December 4, 2011

In Re Lester Park
   Bankr. D. Ariz. Case No. 11-33174
      Chapter 11 Petition filed December 5, 2011

In Re Joseph Mackay
   Bankr. C.D. Calif. Case No. 11-26637
      Chapter 11 Petition filed December 5, 2011

In Re Warren Gerosa
   Bankr. C.D. Calif. Case No. 11-59639
      Chapter 11 Petition filed December 5, 2011

In Re Victor Galvan
   Bankr. N.D. Calif. Case No. 11-72728
      Chapter 11 Petition filed December 5, 2011

In Re Miller & Son Personal Care Home, Inc.
   Bankr. M.D. Ga. Case No. 11-53863
      Chapter 11 Petition filed December 5, 2011
         See http://bankrupt.com/misc/gamb11-53863.pdf
         represented by: Austin E. Carter, Esq.
                         Stone and Baxter, LLP
                         E-mail: acarter@stoneandbaxter.com

In Re Stephen Putnal
   Bankr. M.D. Ga. Case No. 11-53874
      Chapter 11 Petition filed December 5, 2011

In Re 2939 Snapfinger Road, LLC
   Bankr. N.D. Ga. Case No. 11-84651
      Chapter 11 Petition filed December 5, 2011
         See http://bankrupt.com/misc/ganb11-84651.pdf
         represented by: Martha A. Miller, Esq.
                         Martha A. Miller, P.C.
                         E-mail: mmiller@rbspg.com

In Re Annie Webb
   Bankr. N.D. Ga. Case No. 11-84898
      Chapter 11 Petition filed December 5, 2011

In Re Big Beast Transit Inc.
   Bankr. N.D. Ga. Case No. 11-84677
      Chapter 11 Petition filed December 5, 2011
         See http://bankrupt.com/misc/ganb11-84677.pdf
         represented by: Dorna Jenkins Taylor, Esq.
                         Taylor & Associates, LLC
                         E-mail: dorna.taylor@taylorattorneys.com

In Re Jerry Nicholson
   Bankr. N.D. Ga. Case No. 11-24980
      Chapter 11 Petition filed December 5, 2011

In Re Kevin Kenerly
   Bankr. N.D. Ga. Case No. 11-84731
      Chapter 11 Petition filed December 5, 2011

In Re The Global Empowerment Center, Inc.
        fdba Victory House Evangelistic Temple
   Bankr. N.D. Ga. Case No. 11-84934
      Chapter 11 Petition filed December 5, 2011
         filed pro se

In Re Young Hong
   Bankr. N.D. Ga. Case No. 11-84991
      Chapter 11 Petition filed December 5, 2011

In Re Felice Romanzi
   Bankr. N.D. Ill. Case No. 11-48822
      Chapter 11 Petition filed December 5, 2011

In Re Randy Corbin
   Bankr. N.D. Ill. Case No. 11-48948
      Chapter 11 Petition filed December 5, 2011

In Re Steven Block
   Bankr. W.D. Ky. Case No. 11-35812
      Chapter 11 Petition filed December 5, 2011

In Re Carlos Gutierrez
   Bankr. D. Mass. Case No. 11-45043
      Chapter 11 Petition filed December 5, 2011

In Re Internaltional Business Solutions & Development, LLC
   Bankr. D. Mass. Case No. 11-21305
      Chapter 11 Petition filed December 5, 2011
         See http://bankrupt.com/misc/mab11-21305.pdf
         represented by: Laird J. Heal, Esq.
                         E-mail: lairdheal@lh-law-office.com

In Re Radiance Medspa Richmar Plaza, Limited Liability Company
   Bankr. D. Nev. Case No. 11-28713
      Chapter 11 Petition filed December 5, 2011
         See http://bankrupt.com/misc/nvb11-28713.pdf
         represented by: Steven J. Szostek, Esq.
                         E-mail: szostek@cox.net

In Re 1206-1208 East Grand Street Corp.
   Bankr. D. N.J. Case No. 11-44761
      Chapter 11 Petition filed December 5, 2011
         See http://bankrupt.com/misc/njb11-44761.pdf
         represented by: Antonio R. Espinosa, Esq.
                         Andril & Espinosa, LLC
                         E-mail: andrilespinosa@aol.com

In Re Irma Alvarez
   Bankr. D. N.J. Case No. 11-44743
      Chapter 11 Petition filed December 5, 2011

In Re Laurie Munn
   Bankr. E.D.N.Y. Case No. 11-78529
      Chapter 11 Petition filed December 5, 2011

In Re Dinorah Torres
   Bankr. S.D.N.Y. Case No. 11-15618
      Chapter 11 Petition filed December 5, 2011

In Re James Snider
   Bankr. M.D. Tenn. Case No. 11-12052
      Chapter 11 Petition filed December 5, 2011

In Re Highway 82 / Fannin Joint Venture
   Bankr. E.D. Texas Case No. 11-43658
      Chapter 11 Petition filed December 5, 2011
         See http://bankrupt.com/misc/txeb11-43658.pdf
         represented by: Dennis Olson, Esq.
                         E-mail: denniso@dallas-law.com

In Re Billboard Services, Inc.
   Bankr. N.D. Texas Case No. 11-37712
      Chapter 11 Petition filed December 5, 2011
         filed pro se

In Re Holy Tabernacle Church International, Inc.
        dba Holy Tabernacle Church International
   Bankr. N.D. Texas Case No. 11-37699
      Chapter 11 Petition filed December 5, 2011
         See http://bankrupt.com/misc/txnb11-37699.pdf
         represented by: Marilyn D. Garner, Esq.
                         Law Offices of Marilyn D. Garner
                         E-mail: mgarner@marilyndgarner.net

In Re McCowan-Johnson Mansion
   Bankr. N.D. Texas Case No. 11-37715
      Chapter 11 Petition filed December 5, 2011
         filed pro se

In Re Randal Manus
   Bankr. N.D. Texas Case No. 11-46823
      Chapter 11 Petition filed December 5, 2011

In Re Tony Pham
   Bankr. N.D. Texas Case No. 11-37696
      Chapter 11 Petition filed December 5, 2011

In Re Uyoma III, LLC
   Bankr. N.D. Texas Case No. 11-37725
      Chapter 11 Petition filed December 5, 2011
         See  http://bankrupt.com/misc/txnb11-37725.pdf
         represented by: Eric A. Liepins, Esq.
                         Eric A. Liepins, P.C.
                         E-mail: eric@ealpc.com

In Re Cesar Rodriguez
   Bankr. S.D. Texas Case No. 11-40244
      Chapter 11 Petition filed December 5, 2011

In Re Community Chapels of Houston, Inc.
      dba Community Chapel Funeral Home
   Bankr. S.D. Texas Case No. 11-40308
      Chapter 11 Petition filed December 5, 2011
         filed pro se

In Re Guillermo Rojano
   Bankr. S.D. Texas Case No. 11-70825
      Chapter 11 Petition filed December 5, 2011

In Re JCP Properties, LTD
   Bankr. S.D. Texas Case No. 11-70827
      Chapter 11 Petition filed December 5, 2011
         See  http://bankrupt.com/misc/txsb11-70827.pdf
         represented by: Antonio Villeda, Esq.
                         E-mail: avilleda@mybusinesslawyer.net

In Re Jesus Tavarez
   Bankr. S.D. Texas Case No. 11-40345
      Chapter 11 Petition filed December 5, 2011

In Re Jorge Rojano
   Bankr. S.D. Texas Case No. 11-70828
      Chapter 11 Petition filed December 5, 2011


In Re The Jarvis Adventure Building LLC
        dba The Jarvis Adventure Inc.
   Bankr. S.D. Texas Case No. 11-40231
      Chapter 11 Petition filed December 5, 2011
         filed pro se

   In Re The Jarvis Adventure Inc.
         John D Jarvis
      Bankr. S.D. Texas Case No. 11-40236
         Chapter 11 Petition filed December 5, 2011
            filed pro se


In Re George Eastes
      Mary Eastes
   Bankr. W.D. Texas Case No. 11-12964
      Chapter 11 Petition filed December 5, 2011

In Re Ludgate Investments, Inc.
   Bankr. W.D. Texas Case No. 11-32402
      Chapter 11 Petition filed December 5, 2011
         See  http://bankrupt.com/misc/txwb11-32402.pdf
         represented by: Omar Maynez, Esq.
                         Watson & Maynez, P.C.
                         E-mail: watsonandmaynez@gmail.com

In Re Robert Harbison
      Cynthia Harbison
   Bankr. W.D. Texas Case No. 11-12976
      Chapter 11 Petition filed December 5, 2011

In Re Shiloh Family Medicine, PC
   Bankr. E.D. Va. Case No. 11-18674
      Chapter 11 Petition filed December 5, 2011
         See  http://bankrupt.com/misc/vaeb11-18674.pdf
         represented by: Dawn C. Stewart, Esq.
                         The Stewart Law Firm, PLLC
                         E-mail: dstewart@thestewartlawfirm.com

In Re D&J Towing LLC
   Bankr. W.D. Wis. Case No. 11-17301
      Chapter 11 Petition filed December 5, 2011
         See  http://bankrupt.com/misc/wiwb11-17301.pdf
         represented by: David R. Westrick, Esq.
                         The Stewart Law Firm, PLLC
                         E-mail: jane@rogerswestricklawoffice.com

In Re Richard Eberle
   Bankr. W.D. Wis. Case No. 11-17297
      Chapter 11 Petition filed December 5, 2011


In Re Neal Jones
   Bankr. D. Ariz. Case No. 11-33313
      Chapter 11 Petition filed December 6, 2011

In Re William Berry
   Bankr. E.D. Ark. Case No. 11-17744
      Chapter 11 Petition filed December 6, 2011

In Re Carolyn Cooper
   Bankr. C.D. Calif. Case No. 11-59672
      Chapter 11 Petition filed December 6, 2011

In Re Mehrdad Safari
   Bankr. C.D. Calif. Case No. 11-26743
      Chapter 11 Petition filed December 6, 2011

In Re Samuel Esworthy
   Bankr. C.D. Calif. Case No. 11-24042
      Chapter 11 Petition filed December 6, 2011

In Re DBN, LLC
        dba Daybreak Nurseries
   Bankr. D. Conn. Case No. 11-52414
      Chapter 11 Petition filed December 6, 2011
         See  http://bankrupt.com/misc/ctb11-52414.pdf
         represented by: Stephen P. Wright, Esq.
                         Harlow, Adams, and Friedman
                         E-mail: spw@quidproquo.com

In Re Jeff Sage
   Bankr. M.D. Fla. Case No. 11-08833
      Chapter 11 Petition filed December 6, 2011

In Re I.B. Logging, Inc.
   Bankr. M.D. Fla. Case No. 11-08827
      Chapter 11 Petition filed December 6, 2011
         See  http://bankrupt.com/misc/flmb11-08827.pdf
         represented by: Nancy A Draughon, Esq.
                         Law Office of Nancy Akel Draughon, P.A.
                         E-mail: court@northfloridabankruptcy.com

In Re Daniel Bernard
   Bankr. S.D. Fla. Case No. 11-43508
      Chapter 11 Petition filed December 6, 2011

In Re 219 Panola Rd & 180 Middleton Dr. Land Trust
   Bankr. N.D. Ga. Case No. 11-85148
      Chapter 11 Petition filed December 6, 2011
         filed pro se

In Re 2701 Hedgerow Drive, NE, Marietta, GA 30066 Land Trust
   Bankr. N.D. Ga. Case No. 11-85159
      Chapter 11 Petition filed December 6, 2011
         filed pro se

In Re 3675 Charlotte Drive Land Trust
   Bankr. N.D. Ga. Case No. 11-85224
      Chapter 11 Petition filed December 6, 2011
         filed pro se

In Re Mamadou Sylla
   Bankr. N.D. Ga. Case No. 11-85181
      Chapter 11 Petition filed December 6, 2011

In Re Realty Mortgage Investments LLC
   Bankr. N.D. Ga. Case No. 11-85090
      Chapter 11 Petition filed December 6, 2011
         See  http://bankrupt.com/misc/ganb11-85090.pdf
         represented by: Philip Estes Johns, Esq.
                         Johns & Johns, LLC
                         E-mail: johnslaw@comcast.net

In Re Hustead Dental Associates, P.A.
        aka Hustead Dental and Orthodontic Associates, P.A.
   Bankr. D. Md. Case No. 11-33774
      Chapter 11 Petition filed December 6, 2011
         See  http://bankrupt.com/misc/mdb11-33774.pdf
         represented by: James Greenan, Esq.
                         McNamee, Hosea, et. al.
                         E-mail: jgreenan@mhlawyers.com

In Re Patrick Hoyte
      JoAnn Kennedy-Hoyte
   Bankr. D. Md. Case No. 11-33780
      Chapter 11 Petition filed December 6, 2011

In Re Avery Goldberg
   Bankr. E.D.N.Y. Case No. 11-78533
      Chapter 11 Petition filed December 6, 2011

In Re San Sebastian X Ray Corp.
   Bankr. D. Puerto Rico Case No. 11-10441
      Chapter 11 Petition filed December 6, 2011
         See  http://bankrupt.com/misc/prb11-10441.pdf
         represented by: Gloria M. Justiniano Irizarry, Esq.
                         Justiniano's Law Office
                         E-mail: gloriae55amg@yahoo.com

In Re Sorento Homes, Inc.
        aka Sorento Construction & Development
   Bankr. S.D. Texas Case No. 11-40402
      Chapter 11 Petition filed December 6, 2011
         See  http://bankrupt.com/misc/txsb11-40402.pdf
         represented by: Calvin C. Braun, Esq.
                         Orlando & Braun LLP
                         E-mail: calvinbraun@orlandobraun.com

In Re B-Town Burgers LLC
   Bankr. W.D. Wash. Case No. 11-24038
      Chapter 11 Petition filed December 6, 2011
         filed pro se

In Re Storkersen Inc.
        aka Tor Storkersen
   Bankr. W.D. Wash. Case No. 11-24050
      Chapter 11 Petition filed December 6, 2011
         filed pro se

In Re Timothy Cummings
   Bankr. W.D. Wis. Case No. 11-17330
      Chapter 11 Petition filed December 6, 2011



                           *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers"
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors" Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Howard C. Tolentino, Joseph Medel C. Martirez, Denise
Marie Varquez, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R.
Villacampa, Sheryl Joy P. Olano, Carlo Fernandez, Christopher G.
Patalinghug, and Peter A. Chapman, Editors.

Copyright 2011.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
Beard at 240/629-3300.


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