TCR_Public/120331.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

             Saturday, March 31, 2012, Vol. 16, No. 90

                            Headlines

AES EASTERN: Reports $2.96-Mil. Net Income in January 2012
ALEXANDER GALLO: Ends February 2012 With $951,249 Cash
ALLEN FAMILY: Posts $69,567 Net Income From Jan. 1 to Jan. 28
AMERICAN LASER: Has $2.60-Mil. Cash at February 2
BLITZ USA: Posts $254,160 Net Loss in January 2012

BLOCKBUSTER INC: Posts $400,000 Net Loss in January 2012
CARITAS HEALTH: Reports $12,040 Net Profit in February 2012
CHEF SOLUTIONS: Posts $947,340 Net Loss in January 2012
DELTA PETROLEUM: Posts $8.4-Mil. Net Loss in Dec. 16-31 Period
DIGITAL SYSTEMS: Ends February 2012 With $141,042 in Cash

EMIVEST AEROSPACE: Ends February 2012 With $57,453 Cash
EVERGREEN SOLAR: Posts $2.8-Mil. Net Loss in Jan. 1 - 28 Period
FRANCISCAN COMMUNITIES: Reports $302,900 Net Loss in January
FRIENDLY ICE: Posts $22.9-Mil. Net Loss in Nov. 28-Jan. 1 Period
GETTY PETROLEUM: Posts $10-Mil. Net Loss in February 2012

GSC GROUP: Ends January 2012 With $14.24-Mil. Cash
HOSTESS BRANDS: Posts $4.86-Mil. Net Loss in Jan. 11-Feb. 4 Period
INTERNATIONAL MEDIA: Has $1.08-Mil. Unrestricted Cash at Jan. 29
MSR RESORT: Posts $6.6-Mil. Net Loss in January 2012
NEVADA CANCER: Posts $49.6-Mil. Net Loss in January 2012

OTERO COUNTY: Reports $957,750 Net Income in February 2012
PEGASUS RURAL: Posts $1.6-Mil. Net Loss in January 2012
PMI GROUP: Ends February 2012 With $164.35 Million in Cash
PURE BEAUTY: Posts $1.6 Million Net Loss in Jan. 1 - 28 Period
RCR PLUMBING: Posts $624,538 Net Loss in February 2012

REAL MEX: Has $816,303 Cash at January 24
ROBB & STUCKY: Posts $493,000 Net Loss in February 2012
SAINT VINCENTS: Posts $518,197 Net Loss in January 2012
SHARPER IMAGE: Ends February With $1.98 Million in Cash
SHENGDATECH INC: Posts $544,000 Net Loss in February 2012

SP NEWSPRINT: Posts $3.9-Mil. Net Loss in January 2012
SPECIALTY PRODUCTS: Posts $1.7-Mil. Net Loss in January 2012
SPECIALTY PRODUCTS: Bondex Int'l Posts $36,662 January Net Loss
TERRESTAR CORP: Posts $1.43-Mil. Net Loss in February 2012
THORNBURG MORTGAGE: Ends February With $101.06 Million in Cash

TOUSA INC: Ends January 2012 With $301-Mil. Cash
TRAILER BRIDGE: Posts $1.4-Mil. Net Loss in January 2012
TRIDENT MICROSYSTEMS: Posts $1.6 Million Net Loss in January 2012
ULTIMATE ESCAPES: Reports $26.5MM Net Loss in Month ended Jan. 3





                            *********



AES EASTERN: Reports $2.96-Mil. Net Income in January 2012
----------------------------------------------------------
AES Eastern Energy, L.P., reported net profit of $2,965,847 on
$10,871,513 of net revenue for the month ended Jan. 31, 2012.

At Jan. 31, 2011, the Debtor's balance sheet showed $2.991 billion
in total assets, $62.8 million in total liabilities, and net owner
equity of $2.928 billion.  The Debtor ended Jan. 31, 2012, with
$26,058,375 cash.

Consolidated statements of operations and balance sheet were not
provided.

A copy of the January 2012 operating report is available for free
at http://bankrupt.com/misc/aeseastern.jan2012mor.pdf

AES Eastern Energy, L.P., reported net profit of $564,571 on
$546,571 of net revenue for the reporting period Dec. 30, 2011, to
Dec. 31, 2011.

At Dec. 31, 2011, the Debtor had $2.984 billion in total assets,
$59.5 million in total liabilities, and net owner equity of
$2.925 billion.  The Debtor ended the period with $17,955,531
cash.

Consolidated statements of operations and balance sheet were not
provided.

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

       http://bankrupt.com/misc/aeseastern.dec.30-31mor.pdf

                        About AES Eastern

Ithaca, New York-based AES Eastern Energy, L.P., either directly
or indirectly, control six coal-fired electric generating plants
located in New York State.  Currently, the Debtors actively
operate two of the six power plants and sell the electricity
generated by those plants into the New York wholesale power market
to utilities and other intermediaries under short-term agreements
or directly in the spot market.

AES Eastern Energy and 13 affiliates filed for Chapter 11
bankruptcy (Bankr. D. Del. Case Nos. 11-14138 through 11-14151) on
Dec. 30, 2011.  Lawyers at Weil, Gotshal & Manges LLP and
Richards, Layton & Finger, P.A., are legal counsel to AES Eastern
Energy and affiliates.  Barclays Capital is serving as investment
banker and financial advisor.  Kurtzman Carson Consultants is the
claims and noticing agent.  AES Eastern Energy estimated
$100 million to $500 million in assets and $500 million to
$1 billion in debts.  The petition was signed by Peter Norgeot,
general manager.

Gregory A. Horowith, Esq., and Robert T. Schmidt, Esq., at Kramer,
Levin, Naftalis & Frankel LLP; and William T. Bowden, Esq.,
Benjamin W. Keenan, Esq., and Karen B. Skomorucha, Esq., at Ashby
& Geddes, P.A., serve as counsel to the Creditors Committee.  FTI
Consulting Inc. is the financial advisor.

AES Eastern Energy prevailed over opposition and obtained
authorization to hold a March 26 auction for the two operating
power plants.  Under a deal reached prepetition, the Debtor would
turn the two operating facilities over to debt holders in exchange
for debt, absent higher and better offers.


ALEXANDER GALLO: Ends February 2012 With $951,249 Cash
------------------------------------------------------
AGH Liquidating LLC had total receipts of $301 and
disbursements totaling $1,067,627 during the month of
February 2012.  As a result it ended the month with $951,249
cash.

A copy of the February 2012 operating report is available for free
at http://bankrupt.com/misc/aghliquidating.feb2012mor.pdf

AGH Liquidating LLC had total receipts of $465 and
disbursements totaling $629,487 during the month of
February 2012.  As a result it ended the month with $2,018,576
cash.

A copy of the January 2012 operating report is available for free
at http://bankrupt.com/misc/aghliquidating.jan2012mor.pdf

                      About Alexander Gallo

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

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

Alexander Gallo disclosed assets of $208 million and debt totaling
$258 million as of June 30, 2011.  Liabilities include $47 million
on a first-lien revolving credit and term loan where Wells Fargo
Bank NA is agent.  In addition to the second-lien debt held by
Bayside, there is $33 million in junior unsecured subordinated
notes owing to Harvest Equity Partners LLC plus another
$148 million in junior unsecured subordinated notes owing to
insider Gallo Holdings LLC.  As reported in the Troubled Company
Reporter on Nov. 1, 2011, the Alexander Gallo disclosed
$41,981,048 in assets and $259,153,046 in liabilities as of the
Chapter 11 filing.

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

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

In December 2011, an affiliate of Bayside completed the
acquisition of Alexander Gallo's assets.

As reported in the TCR on March 22, 2012, Alexander Gallo Holdings
LLC won the signature of the bankruptcy judge on a March 16
confirmation order approving the liquidating Chapter 11 plan.


ALLEN FAMILY: Posts $69,567 Net Income From Jan. 1 to Jan. 28
-------------------------------------------------------------
Allen's Family Foods, Inc., et al., reported net comprehensive
income of $69,567 on $0 sales for the reporting period Jan. 1,
2012, to Jan. 28, 2012.

The Debtor's balance sheet at Jan. 28, 2012, showed $30.5 million
in total assets, $29.6 million in total liabilities, and
stockholders' equity of $896,127.

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

       http://bankrupt.com/misc/allenfamily.jan1-28mor.pdf

                    About Allen Family Foods

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

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

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


AMERICAN LASER: Has $2.60-Mil. Cash at February 2
-------------------------------------------------
ALC Holdings LLC, et al.'s schedule of cash receipts and
disbursements for the period Jan. 1, 2012, to Feb. 2, 2012,
disclosed:

     Cash at beginning of the period     $2.23 million
     Receipts                            $7.48 million
     Disbursements                      $11.13 million
     Net Cash Flow                      ($3.65 million)
     Loans and Advances                 $11.27 million
     Debt Pay down                       $7.25 million
     Net Cash Flow After Debt Pay down   $0.37 million
     Cash Balance end of period          $2.60 million

A copy of the operating report is available at:

http://bankrupt.com/misc/alcholding.Jan1-feb2mor.pdf

                        About ALC Holdings

Farmington Hills, Michigan-based ALC Holdings LLC dba American
Laser Centers, and American Laser Skincare, provides laser hair
removal treatments.

The Company and its affiliates filed for Chapter 11 protection
(Bankr. D. Del. Lead Case No. 11-13853) on Dec. 8, 2011.
Bankruptcy Judge Mary F. Walrath presides over the case.  Landis
Rath & Cobb LLP represents the Debtors in their restructuring
efforts.  BMC Group Inc. serves as claims agent; SSG Capital
Advisors, LLC serves as financial advisors; and Traverse, LLC
serves as restructuring crisis manager.   MBC Consulting and
Melanie B. Cox serve as interim chief executive officer.  Qorval
and Eric Glassman serve as restructuring consultant.

The Debtors disclosed total assets of $80.4 million and total
liabilities including $40.3 million owing on a first-lien debt,
$51 million in subordinated notes, and $17.9 million is owing to
trade suppliers, as of Oct. 31, 2011.  American Laser Centers of
California LLC disclosed $20,988,454 in assets and $99,951,866 in
liabilities as of the Chapter 11 filing.  ALC Holdings LLC
disclosed $14,662 in assets and $93,744,094 in liabilities.

The Official Committee of Unsecured Creditors has tapped Herrick,
Feinstein LLP as bankruptcy counsel; Ashby & Geddes, P.A. as
Delaware counsel; and J.H. Cohn LLP as its financial advisor.

American Laser Centers on Feb. 6, 2012, disclosed that it has
completed a sale of substantially all of its assets to private
equity investment firm Versa Capital Management, LLC.  The company
received Court approval of the sale on Jan. 31.  Private equity
lender Versa Capital is paying $39.5 million.  A planned auction
failed to turn up additional bids.


BLITZ USA: Posts $254,160 Net Loss in January 2012
--------------------------------------------------
Blitz U.S.A., Inc., et al., reported a net loss of $254,160 on
$6.8 million of revenue for the month ended Jan. 31, 2012.
Restructuring fees incurred in the month totaled $675,000.

The Debtors' balance sheet at Jan. 31, 2011, showed $85.4 million
in total assets, $95.7 million in total liabilities, and a
stockholders' deficit of $10.3 million.

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

         http://bankrupt.com/misc/blitzusa.jan2012mor.pdf

                          About Blitz USA

Blitz U.S.A. Inc., is a Miami, Oklahoma-based manufacturer of
plastic gasoline cans.  The company, controlled by Kinderhook
Capital Fund II LP, filed for bankruptcy protection to stanch a
hemorrhage resulting from 36 product-liability lawsuits.

Parent Blitz Acquisition Holdings, Inc., and its affiliates filed
for Chapter 11 protection (Bankr. D. Del. Case Nos. 11-13602 thru
11-13607) on Nov. 9, 2011.  The Hon. Peter J. Walsh presides over
the case.

Blitz USA disclosed $36,194,434 in assets and $41,428,577 in
liabilities in its schedules.

Daniel J. DeFranceschi, Esq., at Richards, Layton & Finger,
represents the Debtors in their restructuring efforts.  The
Debtors tapped Zolfo Cooper, LLC, as restructuring advisor; and
Kurtzman Carson Consultants LLC serves as notice and claims agent.
Lowenstein Sandler PC from Roseland, New Jersey, represents the
Official Committee of Unsecured Creditors.

The Chapter 11 case is financed with a $5 million secured loan
from Bank of Oklahoma.  Bank of Oklahoma, as DIP agent, is
represented by Samuel S. Ory, Esq., at Frederic Dorwart Lawyers in
Tulsa.


BLOCKBUSTER INC: Posts $400,000 Net Loss in January 2012
--------------------------------------------------------
On March 2, 2012, BB Liquidating Inc., and certain of its domestic
subsidiaries filed their monthly operating report for the period
ended Jan. 31, 2011, with the U.S. Bankruptcy Court for the
Southern District of New York.

The Debtors reported a net loss of $400,000 on $0 revenue for
the period.

At Jan. 31, 2012, the Debtors had $44.2 million in total assets,
$1.356 billion in total liabilities, and a stockholders' deficit
of $1.312 billion.

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

http://bankrupt.com/misc/bbliquidating.jan2012mor.pdf

                    About Blockbuster Inc.

Blockbuster Inc., the movie rental chain with a library of
more than 125,000 titles, along with 12 U.S. affiliates,
initiated Chapter 11 bankruptcy proceedings with a pre-arranged
reorganization plan in Manhattan (Bankr. S.D.N.Y. Case No.
10-14997) on Sept. 23, 2010.  It disclosed assets of $1 billion
and debts of $1.4 billion at the time of the filing.

Martin A. Sosland, Esq., and Stephen Karotkin, Esq., at Weil,
Gotshal & Manges, serve as counsel to the U.S. Debtors.
Rothschild Inc. is the financial advisor.  Alvarez & Marsal is the
restructuring advisor with A&M managing director Jeffery J.
Stegenga as chief restructuring officer.  Kurtzman Carson
Consultants LLC is the claims and notice agent.  The Official
Committee of Unsecured Creditors retained Cooley LLP as its
counsel.

In April 2011, Blockbuster conducted a bankruptcy court-sanctioned
auction for all the assets.  Dish Network Corp. won with an offer
having a gross value of $320 million.  The Debtor was renamed to
BB Liquidating Inc. following closing of the sale.


CARITAS HEALTH: Reports $12,040 Net Profit in February 2012
-----------------------------------------------------------
Caritas Health Care, Inc., reported net profit of $12,040 on
$1,718 of revenue for the month ended Feb. 29, 2012.

At Feb. 29, 2012, the Debtor had $32.8 million in total assets,
$161.3 million in total liabilities, and a stockholders' deficit
of $128.5 million.  The Company ended the period with $18,904,222
in unrestricted cash and equivalents, compared to $18,861,032 in
unrestricted cash and equivalents at the beginning of the
month.  Payments for professional fees totaled $10,540 in the
month.

A copy of the February 2012 monthly operating report is available
for free at:

    http://bankrupt.com/misc/caritashealth.february2012mor.pdf

Caritas Health Care, Inc., reported net profit of $1,486 on $1,520
of revenue for the month ended Jan. 31, 2012.


A copy of the January 2012 monthly operating report is available
for free at:

    http://bankrupt.com/misc/caritashealth.january2012mor.pdf

                    About Caritas Health Care

Caritas Health Care Inc. was the owner of Mary Immaculate Hospital
and St. John's Queens Hospital.  Caritas, created by Wyckoff
Heights Medical Center, purchased the two hospitals in a
bankruptcy sale in early 2007 from St. Vincent Catholic Medical
Centers of New York.  St. John's has 227 generate acute-care beds
while Mary Immaculate has 189.

Caritas Health Care, Inc., and eight of its affiliates sought
chapter 11 protection (Bankr. E.D.N.Y., Case No. 09-40901) on
Feb. 6, 2009.  Jeffrey W. Levitan, Esq., and Adam T. Berkowitz,
Esq., at Proskauer Rose, LLP, represent the Debtors.  Martin G.
Bunin, Esq., and Craig E. Freeman, Esq., at Alston & Bird LLP,
represent the official committee of unsecured creditors.

Caritas sold the hospitals to Joshua Guttman in November 2009 for
$17.7 million.

Caritas filed a proposed Chapter 11 liquidating plan after the
sales of substantially all assets were completed.  Under the plan,
holders of unsecured creditors are expected to recover between 1%
and 3%.  Holders of the existing stock won't receive anything.
The plan has yet to be confirmed by the bankruptcy court.


CHEF SOLUTIONS: Posts $947,340 Net Loss in January 2012
-------------------------------------------------------
Chef Solutions Holdings, LLC, et al., reported a net loss of
$947,340 on $0 sales for the month ended Jan. 31, 2012.  Loss
before reorganization items and taxes was $575,011.

At Jan. 31, 20121, the Debtors' balance sheet showed $7.6 million
in total assets, $41.7 million in total liabilities, and a
member's deficit of $34.1 million.

A copy of the January 2012 operating report is available for free
at http://bankrupt.com/misc/chefsolutions.january2012mor.pdf

                      About Chef Solutions

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

Chef Solutions and its affiliates filed for Chapter 11 protection
(Bankr. D. Del. Case No. 11-13139) on Oct. 4, 2011.  Debtor Orval
Kent Food Company disclosed $82,902,336 in assets and $126,085,311
in liabilities in its schedules.

The Debtor was renamed to Food Processing Liquidation Holdings
LLC, following the sale of most of the assets to RMJV, L.P., a
joint venture between Mistral Capital Management LLC and Reser's
Fine Foods Inc.  In addition to debt assumption, the price
included $35.9 million in cash to pay off secured debt plus a
$25.3 million credit bid.

The Debtors entered into an asset purchase agreement with RMJV on
the Petition Date.  On Nov. 15, 2011, the Court approved the APA
and the sale, and on Nov. 21, the sale closed.

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

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


DELTA PETROLEUM: Posts $8.4-Mil. Net Loss in Dec. 16-31 Period
--------------------------------------------------------------
Delta Petroleum Corp., et al., have filed a monthly operating
report for the period Dec. 16, 2011, to Dec. 31, 2011.

The Debtors reported a net loss of $8.4 million on $2.1 million of
net revenues for the period.

At Dec. 31, 2011, the Debtors' consolidated balance sheet showed
$389.7 million in total assets, $338.4 million in total
liabilities, and stockholders' equity of $51.3 million.

The Debtors ended the period with 12,564,000 in cash and cash
equivalents.

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

     http://bankrupt.com/misc/deltapetroleum.dec.16-31mor.pdf

                       About Delta Petroleum

Delta Petroleum Corporation (NASDAQ: DPTR) is an independent oil
and gas company engaged primarily in the exploration for, and the
acquisition, development, production, and sale of, natural gas and
crude oil.  Natural gas comprises over 90% of Delta's production
services.  The core area of its operations is the Rocky Mountain
Region of the United States, where the majority of the proved
reserves, production and long-term growth prospects are located.

Delta and seven of its subsidiaries sought Chapter 11 bankruptcy
protection (Bankr. D. Del. Case Nos. 11-14006 to 11-14013,
inclusive) on Dec. 16, 2011, roughly six weeks before the Jan. 31,
2012 scheduled maturity of its $38.5 million secured credit
facility with Macquarie Bank Limited and after several months of
unsuccessful attempts to sell the business.  Delta disclosed
$375,498,248 in assets and $310,679,157 in liabilities, which also
include $152,187,500 in outstanding obligations on account of the
7% senior unsecured notes issued in March 2005 with US Bank
National Association indenture trustee; and $115,527,083 in
outstanding obligations on account of 3-3/4% Senior Convertible
Notes due 2037 issued in April 2007.  In its amended schedules,
the Delta Petroleum disclosed $373,836,358 in assets and
$312,864,788 in liabilities.

W. Peter Beardsley, Esq., Christopher Gartman, Esq., Kathryn A.
Coleman, Esq., and Ashley J. Laurie, Esq., at Hughes Hubbard &
Reed LLP, in New York, N.Y., represent the Debtors as counsel.
Derek C. Abbott, Esq., Ann C. Cordo, Esq., and Chad A. Fights,
Esq., at Morris, Nichols, Arsht & Tunnel LLP, in Wilmington, Del.,
represent the Debtors as co-counsel.  Conway Mackenzie is the
Debtors's restructuring advisor.  Evercore Group L.L.C. is the
financial advisor and investment banker.  The Debtors selected
Epiq Bankruptcy Solutions, LLC as claims and noticing agent.  The
petition was signed by Carl E. Lakey, chief executive officer and
president.

The U.S. Trustee told the bankruptcy judge that there was
insufficient interest from creditors to form an official committee
of unsecured creditors.


DIGITAL SYSTEMS: Ends February 2012 With $141,042 in Cash
---------------------------------------------------------
Digital Systems, Inc., on March 23, 2012, filed its monthly
operating report with the Bankruptcy Court for the period from
Feb. 1 through Feb. 29, 2012.

The Company reported a net loss of $786 for the month ended
Feb. 29, 2012.

As of Feb. 29, 2012, the company had total assets of $317,849,
total liabilities of $1.28 million and total stockholders' deficit
of $959,922.

At the beginning of the month, the company had $141,775 in cash.
The company had total receipts of $9,044 and total disbursements
of $9,776.  As a result, at the end of February 2012, Digital
Systems had total cash of $141,042.

A full-text copy of the monthly operating report is available at:

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

                        About ICOP Digital

Founded in 2002, ICOP Digital Inc. sells surveillance equipment
for law enforcement agencies.  Lenexa, Kansas-based ICOP Digital
filed for Chapter 11 protection in Kansas City (Bankr. D. Kan.
Case No. 11-20140) on Jan. 21, 2011.  In its schedules, the Debtor
disclosed assets of $1.67 million and debt of $2.74 million.  The
balance sheet as of Sept. 30, 2010, had assets on the books for
$6.7 million and total debts of $4.3 million.  Joanne B. Stutz,
Esq., at Evans & Mullinix PA, in Shawnee, Kansas, serves as the
Debtor's bankruptcy counsel.

The Debtor has been renamed as of March 14, 2011, to Digital
Systems, Inc.

Digital Systems filed with the Court a Disclosure Statement
explaining its Plan of Liquidation on Feb. 14, 2012.


EMIVEST AEROSPACE: Ends February 2012 With $57,453 Cash
-------------------------------------------------------
Emivest Aerospace Corporation reported a net loss of $358,543
on $0 revenue for February 2012.

At Feb. 29, 2012, the Debtor had $273,663 in total assets,
$83.3 million in total liabilities, and a shareholders' deficit of
$83.0 million.  The Debtor ended the period with $57,453 cash,
compared to beginning cash of $59,953.

A copy of the February 2012 monthly operating report is available
for free at:

       http://bankrupt.com/misc/emivest.february2012mor.pdf

Emivest Aerospace Corporation reported a net loss of $317,375 on
$0 revenue for January 2012.

At Jan. 31, 2012, the Debtor had $277,800 in total assets,
$83.0 million in total liabilities, and a shareholders' deficit of
$82.7 million.  The Debtor ended the period with $59,953 cash,
compared to beginning cash of $72,171.

A copy of the January 2012 monthly operating report is available
for free at:

       http://bankrupt.com/misc/emivest.january2012mor.pdf

                     About Emivest Aerospace

Emivest Aerospace Corporation -- http://www.sj30jet.com/-- is a
U.S.-based aircraft manufacturing company and a subsidiary of
Emirates Investment & Development PSC.  Emivest Aerospace
Corporation produces the SJ30 light jet.

Emivest Aerospace Corporation filed for Chapter 11 protection
(Bankr. D. Del. Case No. 10-13391) on Oct. 20, 2010.  Emivest
disclosed $80,700,232 in assets and $77,333,546 in liabilities as
of the Chapter 11 filing.

Daniel B. Butz, Esq., at Morris, Nichols, Arsht & Tunnell LLP, in
Wilmington, Delaware, serves as counsel to the Debtor.  Morgan
Joseph & Co. Inc. is the financial advisor to the Debtor.  The
Debtor also hired DLA Piper LLP (US) as special counsel to assist
in the marketing of its assets.  Attorneys at Pachulski Stang
Ziehl & Jones LLP serve as counsel to the Official Committee of
Unsecured Creditors.  Deloitte Financial Services LLP is the
Committee's financial advisor.


EVERGREEN SOLAR: Posts $2.8-Mil. Net Loss in Jan. 1 - 28 Period
---------------------------------------------------------------
Evergreen Solar, Inc., reported a net loss of $2.8 million on
no revenue for the fiscal month ended Jan. 28, 2012.

At Jan. 28, 2012, the Debtor's balance sheet showed $63.2 million
in total assets, $360.5 million in total liabilities, and a
stockholders' deficit of $297.3 million.

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

      http://bankrupt.com/misc/evergreensolar.jan1-28mor.pdf

                       About Evergreen Solar

Evergreen Solar, Inc. -- http://www.evergreensolar.com/--
developed, manufactured and marketed String Ribbon solar power
products using its proprietary, low-cost silicon wafer technology.

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

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

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

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

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

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

Evergreen sold the assets piecemeal in three auctions.  Max Era
Properties Ltd. from Hong Kong paid $6 million cash and $3.2
million in stock of China Private Equity Investment Holdings
Ltd. for the company name, intellectual property, and wafermaking
assets.  Kimball Holdings LLC paid $3.8 million for solar panel
inventory while the secured lenders exchanged $21.5 million of
their $165 million claim for a $171 million claim against Lehman
Brothers Holdings Inc.  Max Era Properties Limited and Sovello AG
bought equipment and machinery located at the Debtor's Devens,
Massachusetts facility for $8.9 million.


FRANCISCAN COMMUNITIES: Reports $302,900 Net Loss in January
------------------------------------------------------------
Franciscan Communities St. Mary of the Woods, Inc., reported a net
loss of $302,900 on $593,680 of revenues for the month ended
Jan. 31, 2012.

As of Jan. 31, 2012, the Company's balance sheet showed
$24.7 million in total assets, $50.7 million in total liabilities,
and an equity deficit of $26.0 million.

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

http://bankrupt.com/misc/franciscancommunities.january2012mor.pdf

                   About Franciscan Communities

Illinois-based Franciscan Communities St. Mary of the Woods, Inc.,
owns and operates a senior living community in Avon, Ohio.  The
not-for-profit community is owned and managed by the Franciscan
Sisters of Chicago Service Corp.

Franciscan Communities St. Mary of the Woods filed for Chapter 11
bankruptcy (Bankr. N.D. Ohio Case No. 11-19865) on Nov. 21, 2011,
after it failed to negotiate an out-of-court workout with holders
of tax-free bonds.  Judge Jessica E. Price Smith oversees the
case.  The Debtor disclosed assets of $36 million and debt
totaling $48 million as of the Chapter 11 filing.  In its
schedules, the Debtor disclosed $22,314,854 in assets and
$49,555,487 in liabilities.

The Debtor is represented by Heather Lennox, Esq., Carl E.
Black, Esq., and Daniel M. Syphard, Esq., at Jones Day, as
bankruptcy counsel.  The Garden City Group, Inc., is the claims
and noticing agent.  The Debtor tapped Deloitte Financial Advisory
Services LLP as restructuring advisor, and Houlihan Lokey Capital,
Inc., as its investment banker.

The U.S. Trustee appointed Beverly Laubert as patient care
ombudsman.

Franciscan Sisters of Chicago, the sole member of the Debtor, is
providing $4.5 million in DIP loans.  The DIP Lender is
represented by George Mesires, Esq., and Daniel P. Strzalka, Esq.,
at Ungaretti & Harris LLP.  The Bank of New York Mellon Trust
Company, N.A., the bond trustee, is represented by Bruce H. White,
Esq., and Clifton R. Jessup, Esq., at Greenberg Traurig LLP. Wells
Fargo Bank, N.A., as Master Trustee, is represented by Daniel S.
Bleck, Esq., at Mintz, Levin, Cohn, Ferris, Glovsky and Popeo,
P.C., and John R. Weiss, Esq., at Duane Morris LLP.  Sovereign
Bank, provider of the Debtor's letter of credit facility, is also
represented by John R. Weiss, Esq., at Duane Morris LLP.

The Official Committee of Unsecured Creditors in the
Chapter 11 cases of the Debtor is represented by McDonald Hopkins
LLC as counsel.


FRIENDLY ICE: Posts $22.9-Mil. Net Loss in Nov. 28-Jan. 1 Period
----------------------------------------------------------------
Friendly Ice Cream Corporation, et al., now known as Amicus Wind
Down Corporation, et al., reported a net loss of $22.9 million on
$37.5 million of revenues for the reporting period Nov. 28, 2011,
to Jan. 1, 2012.

At Jan. 1, 2012, the Debtors had $252.3 million in total assets,
$518.9 million in total liabilities, and a stockholders' deficit
of $266.6 million.

A copy of the December 2011 operating report is available for free
at http://bankrupt.com/misc/friendlyice.nov28-jan1mor.pdf

                     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.


GETTY PETROLEUM: Posts $10-Mil. Net Loss in February 2012
---------------------------------------------------------
Getty Petroleum Marketing Inc., et al., reported a net loss of
$10.0 million on $44.6 million of revenues for the month ended
Feb. 29, 2012.

At Feb. 29, 2012, the Debtors had $76.4 million in total assets,
$155.2 million in total liabilities, and a stockholders' deficit
of $78.8 million.  Getty Petroleum ended the month with $1,896,000
cash and $13,372,000 restricted cash as of the Feb. 29, 2012
balance sheet.

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

   http://bankrupt.com/misc/gettypetroleum.february2012mor.pdf

                        About Getty Petroleum

A remnant of J. Paul Getty's oil empire, Getty Petroleum Marketing
markets gasolines, hydraulic fluids, and lubricating oils through
a network of gas stations owned and operated by franchise holders.
A former subsidiary of Russian oil giant LUKOIL, the company
operates in the Mid-Atlantic and Northeastern US states.  Getty
Petroleum Marketing's primary asset is the more than 800 gas
stations in the Mid-Atlantic states which are located on
properties owned by Getty Realty.  After scaling back the
company's operations to cut debt, in 2011 LUKOIL sold Getty
Petroleum Marketing to investment firm Cambridge Petroleum Holding
for an undisclosed price.

Getty Petroleum and three affiliates filed for Chapter 11
bankruptcy (Bankr. S.D.N.Y. Case Nos. 11-15606 to 11-15609) on
Dec. 5, 2011.  Judge Shelley C. Chapman presides over the case.
Loring I. Fenton, Esq., John H. Bae, Esq., Kaitlin R. Walsh, Esq.,
and Michael J. Schrader, Esq., at Greenberg Traurig, LLP, in New
York, N.Y., serve as Debtors' counsel.  Ross, Rosenthal & Company,
LLP, serves as accountants for the Debtors.  Getty Petroleum
Marketing, Inc., disclosed $46,592,263 in assets and $316,829,444
in liabilities as of the Petition Date.  The petition was signed
by Bjorn Q. Aaserod, chief executive officer and chairman of the
board.

The Official Committee of Unsecured Creditors is represented by
Wilmer Cutler Pickering Hale and Dorr LLP.  Alvarez & Marsal North
America, LLC, serves as the Committee's financial advisors.


GSC GROUP: Ends January 2012 With $14.24-Mil. Cash
--------------------------------------------------
GSC Group, Inc., and affiliated entities filed on Feb. 28, 2012,
a monthly operating report for January 2012.

GSCP, LLC, GSCP Group, Inc., GSC Active Partners, Inc., GSCP (NJ),
Inc., GSCP (NJ) Holdings, L.P., and GSC Secondary Interest Fund
had no income or expense transactions for the month of
January 2012.

GSCP (NJ), L.P., reported a net loss of $828,019 on $219,352 of
revenue for the month.

The Debtors had total cash of $14,241,485 at Jan. 31, 2012,
compared to $14,662,281 at the beginning of the month.  The
Debtors paid $823,194 in professional fees during the month.

A copy of the January 2012 monthly operating report is available
for free at http://bankrupt.com/misc/gscgroup.january2012mor.pdf

                         About GSC Group

Florham Park, New Jersey-based GSC Group, Inc. --
http://www.gsc.com/-- was a private equity firm that specialized
in mezzanine and fund of fund investments.  Originally named
Greenwich Street Capital Partners Inc. when it was a subsidiary of
Travelers Group Inc., GSC became independent in 1998 and at one
time had $28 billion of assets under management.  Market reverses,
termination of some funds, and withdrawal of customers'
investments reduced funds under management at the time of
bankruptcy to $8.4 billion.

GSC Group, Inc., filed for Chapter 11 bankruptcy protection
(Bankr. S.D.N.Y. Case No. 10-14653) on Aug. 31, 2010.  Michael B.
Solow, Esq., at Kaye Scholer LLP, served as the Debtor's
bankruptcy counsel.  Epiq Bankruptcy Solutions, LLC, is the
Debtor's notice and claims agent.  Capstone Advisory Group LLC
served as the Debtor's financial advisor.  The Debtor estimated
its assets at $1 million to $10 million and debts at $100 million
to $500 million as of the Chapter 11 filing.

Since Jan. 7, 2011, the Debtors have been operated by James L.
Garrity Jr., as Chapter 11 trustee for the Debtors.  The Chapter
11 trustee tapped Shearman & Sterling LLP as his counsel, and
Togut, Segal & Segal LLP as his conflicts counsel.

No committee of unsecured creditors has been appointed in the
case.

The Chapter 11 trustee completed the sale of business in July 2011
and filed a liquidating Chapter 11 plan and explanatory disclosure
statement in late August.  The bankruptcy court authorized the
trustee to sell the business to Black Diamond Capital Finance LLC,
as agent for the secured lenders.  Proceeds were used to pay
secured claims.  The price paid by the lenders' agent was designed
for full payment on $256.8 million in secured claims, with
$18.6 million cash left over.  Black Diamond bought most assets
with a $224 million credit bid, a $6.7 million note, $5 million
cash, and debt assumption.  A minority group of secured lenders
filed an appeal from the order allowing the sale.  Through a suit
in state court, the minority lenders failed to halt Black Diamond
from completing the sale.

The Chapter 11 Trustee and Black Diamond have filed rival
repayment plans for GSC Group.  As reported in the TCR on Dec. 16,
2011, Hilary Russ at Bankruptcy Law360 related that the Chapter 11
trustee for GSC Group, Inc., reached a handshake deal on Dec. 13,
2011, ending a bitter dispute with Black Diamond that delayed a
$235 million asset sale.

Adam Goldberg, Esq., and Douglas Bacon, Esq., at Latham & Watkins,
represent Black Diamond Capital Management, LLC, as counsel.
Patrick J. Nash, Jr., Esq. and Paul Wierbicki, Esq. of Kirkland &
Ellis LLP serve as counsel to Black Diamond Capital Management,
LLC.


HOSTESS BRANDS: Posts $4.86-Mil. Net Loss in Jan. 11-Feb. 4 Period
------------------------------------------------------------------
Hostess Brands Inc. reported a net loss of $4.86 million on net
sales of $187.36 million for the period Jan. 11, 2012, to Feb. 4,
2012.  Earnings before interests, taxes, depreciation and
amortization in the month was $7.28 million.

At Feb. 4, 2012, the Debtors had $1.029 billion in total assets,
$2.442 billion in total liabilities, and a stockholders' deficit
of $1.413 billion.

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

     http://bankrupt.com/misc/hostessbrands.jan11-feb4mor.pdf

                      About Hostess Brands

Founded in 1930, Irving, Texas-based Hostess Brands Inc., is known
for iconic brands such as Butternut, Ding Dongs, Dolly Madison,
Drake's, Home Pride, Ho Hos, Hostess, Merita, Nature's Pride,
Twinkies and Wonder.  Hostess has 36 bakeries, 565 distribution
centers and 570 outlets in 49 states.

Hostess filed for Chapter 11 bankruptcy protection early morning
on Jan. 11, 2012 (Bankr. S.D.N.Y. Case Nos. 12-22051 through
12-22056) in White Plains, New York.  Debtor-affiliates that filed
separate Chapter 11 petition are IBC Sales Corporation, IBC
Trucking LLC, IBC Services LLC, Interstate Brands Corporation, and
MCF Legacy Inc.  Hostess Brands disclosed assets of $982 million
and liabilities of $1.43 billion as of Dec. 10, 2011.  Debt
includes $860 million on four loan agreements.  Trade suppliers
are owed as much as $60 million.

The bankruptcy filing was made two years after predecessors
Interstate Bakeries Corp. and its affiliates emerged from
bankruptcy (Bankr. W.D. Mo. Case No. 04-45814).  Ripplewood
Holding LLC, after providing $130 million to finance the plan,
obtained control of IBC's business following the prior
reorganization.  Hostess Brands is privately held.  The new owners
pursued new Chapter 11 cases to escape from what they called
"uncompetitive and unsustainable" union contracts, pension plans,
and health benefit programs.

In 2011, Hostess retained Houlihan Lokey to explore sales of its
smaller assets and individual brands.  Houlihan Lokey oversaw the
sale of Mrs. Cubbison's to Sugar Foods Corporation for
$12 million, but was unable to sell any of Hostess' core assets.
Judge Robert D. Drain oversees the case.  Hostess has hired Jones
Day as bankruptcy counsel; Stinson Morrison Hecker LLP as general
corporate counsel and conflicts counsel; Perella Weinberg Partners
LP as investment bankers, FTI Consulting, Inc. to provide an
interim treasurer and additional personnel for the Debtors, and
Kurtzman Carson Consultants LLC as administrative agent.

Matthew Feldman, Esq., at Willkie Farr & Gallagher, and Harry
Wilson, the head of turnaround and restructuring firm MAEVA
Advisors, are representing the Teamsters union.

Attorneys for The Bakery, Confectionery, Tobacco Workers and Grain
Millers International Union and Bakery & Confectionery Union &
Industry International Pension Fund are Jeffrey R. Freund, Esq.,
at Bredhoff & Kaiser, P.L.L.C.; and Ancela R. Nastasi, Esq., David
A. Rosenzweig, Esq., and Camisha L. Simmons, Esq., at Fulbright &
Jaworski L.L.P.

An official committee of unsecured creditors has been appointed in
the case.  The committee selected New York law firm Kramer Levin
Naftalis & Frankel LLP as its counsel. Tom Mayer and Ken Eckstein
will head up the legal team for the committee.

The bankruptcy judge on Feb. 3 gave Hostess Brands final authority
for $75 million in secured financing.  The day following the Jan.
11 Chapter 11 filing, Hostess had secured interim approval for a
$35 million loan.


INTERNATIONAL MEDIA: Has $1.08-Mil. Unrestricted Cash at Jan. 29
----------------------------------------------------------------
International Media Group, Inc., et al., reported a net loss of
$142,710 on $998,399 of net revenue for the period Jan. 9, 2012,
to Jan. 29, 2012.

At Jan. 29, 2012, the Debtors had $604.8 million in total assets,
$373.9 million in total liabilities, and stockholders' equity of
$230.9 million.  The Debtors ended the period with $1,082,559 in
unrestricted cash and equivalents and $16,054 in restricted cash
and cash equivalents.

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

        http://bankrupt.com/misc/intlmedia.jan9-29mor.pdf

                  About International Media Group

International Media Group Inc. and its affiliates operate
television station KSCI-TV (Channel 18) Long Beach, California;
KUAN-LP (Channel 48) Poway, California; and KIKU-TV (Channel 19)
Honolulu, Hawaii.  KSCI, KUAN and KIKU focus primarily on the
large Asian markets of Southern California and Hawaii and offer
programming in six (6) main languages -- (i) Chinese; (ii) Korean;
(iii) Tagalog (Filipino); (iv) Vietnamese; (v) English; and (vi)
Japanese.  The Television Stations' programming is a mix of
locally produced original news, entertainment, and talk shows,
purchased or syndicated foreign language programming, and paid
programming comprised principally of infomercials, per-inquiry and
direct response television advertisements.

KHAI Inc. owns all of the equity of KHLS Inc., which holds the FCC
license for KIKU-TV (Channel 19).  KSCI Inc. owns all of the
equity of KHAI and of KSLS Inc., which holds the FCC license for
KSCI-TV (Channel 18) and KUANLP (Channel 48).  International Media
Group Inc. owns all of the equity of KSCI.

AMG Intermediate LLC owns all of the equity of IMG, and AsianMedia
Group LLC owns all of the equity of AMG.  Non-debtor AsianMedia
Investors I L.P. owns all of the equity of AsianMedia.

International Media Group and six affiliates filed Chapter 11
petitions (Bankr. D. Del. Lead Case No. 12-10140) on Jan. 9, 2012,
with the intent to sell their business as a going concern under
11 U.S.C. Sec. 363(a).

NRJ TV II LLC, an entity owned by the first lien lender, will be
the stalking horse bidder.  As of Jan. 9, 2012, the Debtors owe
$77.3 million on a first lien debt, including $67 million on a
term-loan.  Fortress Credit Corp. serves as agent.  Unless outbid
at the auction, the pre-petition lenders will acquire the assets
in exchange for a credit bid of $45 million, will assume certain
liabilities, and fund a "carve-out".  An auction and sale hearing
is contemplated to be held in March.

Judge Mary F. Walrath oversees the Debtors' cases.  International
Media Group tapped Houlihan Lokey Capital, Inc., in October to
market the assets.  Houlihan will continue marketing the assets
post-petition.  William E. Chipman, Jr., Esq., and Mark D.
Olivere, Esq., at Cousins Chipman & Brown, LLC, in Wilmington,
Delaware, serve as the Debtors' bankruptcy counsel.  The Debtors'
claims agent is Epiq Bankruptcy Solutions LLC.

In its schedules, International Media Group disclosed $206,825,047
in total assets and $233,218,073 in total liabilities.


MSR RESORT: Posts $6.6-Mil. Net Loss in January 2012
----------------------------------------------------
MSR Resort Golf Course LLC, et al., reported a net loss of
$6.6 million on $47.9 million of revenues for January 2012.  The
Debtors incurred interest expense of $7.2 million, depreciation
and amortization expense of $6.5 million and reorganization items
of $1.2 million in the month.

The Debtors' combined condensed balance sheet at Jan. 31, 2012,
showed $2.084 billion in total assets, $1.983 billion in total
liabilities, and partners' capital of $100.8 million.

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

        http://bankrupt.com/misc/msrresort.jan2012mor.pdf

                         About MSR Resort

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

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

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

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

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

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

The resorts have agreement with lenders allowing the companies to
remain in Chapter 11 at least until September 2012.  Donald Trump
has a contract to buy the Doral Golf Resort and Spa in Miami for
$170 million. There will be an auction to learn if there is a
better bid. The resorts have said that Trump's offer price implies
a value for all the properties "significantly" exceeding the $1.5
billion in debt.

The Official Committee of Unsecured Creditors is represented by
Martin G. Bunin, Esq., and Craig E. Freeman, Esq., at Alston &
Bird LLP, in New York.


NEVADA CANCER: Posts $49.6-Mil. Net Loss in January 2012
--------------------------------------------------------
Nevada Cancer Institute reported a net loss of $49.6 million on
$1.1 million of total revenues for the month ended Jan. 31, 2012.
Included in the net loss for the month was a $47.1 million loss
from sale of equipment.  The Debtor also incurred $535,536 in
professional fees in the month.

At Jan. 31, 2012, the Debtor had $97.2 million in total assets,
$143.6 million in total liabilities, and a net asset deficit of
$46.4 million.

A copy of the January 2012 operating report is available for free
at http://bankrupt.com/misc/nevadacancer.january2012mor.pdf

                        About Nevada Cancer

Founded in 2002, Nevada Cancer Institute is a nonprofit cancer
institute committed to advancing the frontiers of knowledge of
cancer and reducing the burden of cancer on the people of Nevada..
It formerly maintained a state-of-the-art outpatient cancer
treatment and research facility in the Summerlin area of Las
Vegas.

Nevada Cancer Institute filed for bankruptcy (Bankr. D. Nev. Case
No. 11-28676) on Dec. 2, 2011, blaming mounting financial
pressures arising from the protracted decline in the economy,
decreases in medical reimbursement rates from managed care payor
entities, increases in operational costs, decreases in the amount
and availability of charitable donations, a reduction in research
funding opportunities and increased competition.  Lisa Madar
signed the petition as secretary.

Chief Bankruptcy Judge Mike K. Nakagawa oversees the case.

At a hearing in January, the bankruptcy judge approved the
Debtor's request to employ, among others, Klee, Tuchin, Bogdanoff
& Stern LLP, as bankruptcy counsel; Lewis and Roca LLP as
reorganization co-counsel; Alvarez & Marsal Healthcare Industry
Group LLC as the Debtor's restructuring advisors.  Kurtzman Carson
Consultants LLC serves as the Debtor's claims and noticing agent.

The judge ruled in January that the appointment of a patient care
ombudsman is not necessary.

Robert J. Feinstein, Esq., Samuel R. Maizel, Esq., and Shirley s.
Cho., at Pachulski Stang Ziehl & Jones LLP, represents the
Official Committee of Unsecured Creditors as counsel.  Lenard E.
Schwartzer, Esq., and Jeanette E. McPherson, Esq., at Schwartzer &
McPherson Law Firm, represents the Committee as local counsel.

Counsel for Bank of America, N.A., as agent for the prepetition
lenders, are Craig A. Barbarosh, Esq., and Karen B. Dine, Esq., at
Pillsbury Winthrop Shaw Pittman LLP.

The Regents of the University of California on behalf of its UC
San Diego Health System, is represented by James W. Kapp, III,
Esq., and Gary B. Gertler, Esq., at McDermott Will & Emery.

The Debtor underwent a significant prepetition operational
restructuring, and, after commencing this case, sold the Flagship
Building to the Regents of the University of California on behalf
of its UC San Diego Health System in a Court-approved sale
pursuant to Bankruptcy Code section 363 that closed on Jan. 31,
2012.

The hearing on confirmation of Nevada Cancer's Chapter 11 plan on
April 23, 2012.


OTERO COUNTY: Reports $957,750 Net Income in February 2012
----------------------------------------------------------
Otero County Hospital Association, Inc. (d/b/a Gerald Champion
Regional Medical Center, d/b/a Mountain View Catering), filed on
March 21, 2012, a standard monthly operating report (business) for
the month of February 2012.

Gerald Champion Regional Medical Center's Hospital & Physician
Income Statement showed net income of $957,750 on $9.3 million
of total revenue for the period.

The financial statements do not include an accrued liability for
defense and settlement of pending lawsuits and reorganization
costs under the Chapter 11 bankruptcy filed on Aug. 16, 2011.

Gerald Champion Regional Medical Center's Hospital Physician and
Balance Sheet at Feb. 29, 2012, showed $146.4 million in total
assets, $58.6 million in total liabilities & deferred income, and
total equity of $87.8 million.

A copy of the February 2012 operating report is available for free
at http://bankrupt.com/misc/oterocounty.feb2012mor.pdf

Gerald Champion Regional Medical Center's Hospital & Physician
Income Statement showed a net loss of $1.3 million on $8.5 million
of total revenue for the month of January 2012.

A copy of the January 2012 operating report is available for free
at http://bankrupt.com/misc/oterocounty.january2012mor.pdf

Gerald Champion Regional Medical Center's Hospital & Physician
Income Statement showed a net loss of $1.9 million on $7.8 million
of total revenue for the month of December 2011.

A copy of the December 2011 operating report is available for free
at http://bankrupt.com/misc/oterocounty.december2011mor.pdf

                    About Otero County Hospital

Otero County Hospital Association Inc. filed for Chapter 11
protection (Bankr. D. N.M. Case No. 11-13686) in Albuquerque, New
Mexico, on Aug. 16, 2011.  The Alamogordo, New Mexico-based
nonprofit developed and operates the Gerald Champion Regional
Medical Center.  GCRMC serves a total population of approximately
70,000 people.  Otero County Hospital Association also does
business as Mountain View Catering.

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

The Debtor disclosed $124,186,104 in assets and $40,506,759 in
liabilities as of the Chapter 11 filing.

Alice Nystel Page, U.S. Trustee for Region 20, appointed five
creditors to serve on the Official Committee of Unsecured
Creditors of the Debtor.  Gardere Wynne Sewell LLP serves as the
Committee's counsel.  The Committee tapped James Morell of JCM
Advisors, LLC, as healthcare management consultant.

The U. S. Trustee appointed E. Marissa Lane PLLC as patient care
ombudsman on Sept. 13, 2011.

No trustee or examiner has been requested or appointed in the
Chapter 11 Case.


PEGASUS RURAL: Posts $1.6-Mil. Net Loss in January 2012
-------------------------------------------------------
Pegasus Rural Broadband, LLC, et al., reported a net loss of
$1.6 million on $309,262 of customer revenue for the month ended
Jan. 31, 2012.

At Jan. 31, 2012, the Company had $41.6 million in total assets,
$76.6 million in total liabilities, and a stockholders' deficit of
$35.0 million.

A copy of the January 2012 operating report is available for free
at http://bankrupt.com/misc/pegasusrural.january2012mor.pdf

Pegasus Rural Broadband, LLC, et al., reported a net loss of
$1.9 million on $305,009 of customer revenue for the month ended
Dec. 31, 2011.

At Dec. 31, 2011, the Company had $42.2 million in total assets,
$75.6 million in total liabilities, and a stockholders' deficit of
$33.4 million.

A copy of the December 2011 operating report is available for free
at http://bankrupt.com/misc/pegasusrural..dec2011mor.pdf

                   About Pegasus Rural Broadband

Pegasus Rural Broadband, LLC, and its affiliates, including
Xanadoo Holdings Inc., sought Chapter 11 protection (Bankr. D.
Del. Lead Case No. 11-11772) on June 10, 2011.

The Debtors are subsidiaries of Xanadoo Company, a 4G wireless
Internet provider.  Xanadoo Co. was not among the Chapter 11
filers.

The subsidiaries sought Chapter 11 protection after they were
unable to restructure $52 million in 12.5% senior secured
promissory notes that matured in May.  The notes are owing to
Beach Point Capital Management LP.

Xanadoo Holdings, through Xanadoo LLC -- XLC -- offers wireless
high-speed broadband service, including digital phone services,
under the Xanadoo brand utilizing licensed frequencies in the 2.5
GHz frequency band.  As of May 31, 2011, XLC served 12,000
subscribers in Texas, Oklahoma and Illinois.  In the summer of
2010, the Debtors closed all of their retail stores and kiosks in
its six operating markets and severed all fulltime sales
personnel.  Since the closings, the Debtors relied one key
retailer in each market to serve as local point of presence to
market customer transactions.

Judge Peter J. Walsh presides over the case.  Rafael Xavier
Zahralddin-Aravena, Esq., Shelley A. Kinsella, Esq., and Jonathan
M. Stemerman, Esq., at Elliott Greenleaf, in Wilmington, Delaware,
serve as counsel to the Debtor.  NHB Advisors Inc. is their
financial advisors.  Epiq Systems, Inc., is the claims and notice
agent.

Xanadoo Holdings, Pegasus Guard Band and Xanadoo Spectrum each
estimated assets of $100 million to $500 million and debts of
$50 million to $100 million.

The Chapter 11 filing followed the maturity in May 2011 of almost
$60 million in secured notes owing to Beach Point Capital
Management LP.

The Court denied a motion by the secured noteholders to dismiss
the Chapter 11 case and appoint a Chapter 11 trustee.

The companies filed a proposed reorganization plan in February
predicting sale of licenses in the 700 megahertz spectrum would
pay all secured and unsecured creditors in full, with interest.
In a separate filing, the companies said the assets will be turned
over to secured lenders if there is neither a lender nor a buyer
to finance a plan.  The plan will be funded either by a new loan
or by selling the business and the assets.


PMI GROUP: Ends February 2012 With $164.35 Million in Cash
----------------------------------------------------------
PMI Group, Inc., on March 23, 2012, filed its monthly
operating report with the Bankruptcy Court for the period from
Feb. 1 through Feb. 29, 2012.

PMI Group posted a net loss of $1.39 million for the month ended
Feb. 29, 2012.

As of Feb. 29, 2012, the PMI Group had total assets of $229.74
million, total liabilities of $767.37 million and total
stockholders' equity of $537.64 million.

At the beginning of February, the company had $164.83 million in
cash.  The PMI Group had total cash receipts of $33,442 and total
cash disbursements of $515,409.  As a result, at the end of the
month, the company had total cash of $164.35 million.

A full-text copy of the monthly operating report is available at:

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

                         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.  In its schedules, the Debtor
disclosed $167,963,354 in assets and $770,362,195 in liabilities.
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.

The Debtor is represented by James L. Patton, Esq., Pauline K.
Morgan, Esq., Kara Hammond Coyle, Esq., and Joseph M. Barry, Esq.,
at Young Conaway Stargatt & Taylor LLP.


PURE BEAUTY: Posts $1.6 Million Net Loss in Jan. 1 - 28 Period
--------------------------------------------------------------
Pure Beauty Salons & Boutiques, Inc., and BeautyFirst Franchise
Corp. reported a combined net loss of $1.6 million on $5.3 million
of revenue for the reporting period Jan. 1, 2011, through
Jan. 28, 2012.

The Debtors' combined balance sheet at Jan. 28, 2012, showed
$31.0 million in total assets, $57.4 million in total liabilities,
and a stockholders' deficit of $26.4 million.

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

        http://bankrupt.com/misc/purebeauty.jan1-28mor.pdf

                         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 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.

Roberta A. DeAngelis, the U.S. Trustee for Region 3, appointed
seven unsecured creditors to serve on the Official Committee of
Unsecured Creditors of Pure Beauty Salons.  Attorneys at Pachulski
Stang Ziehl & Jones LLP represent the Committee.  LM+Co serves as
their financial advisor.

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.


RCR PLUMBING: Posts $624,538 Net Loss in February 2012
------------------------------------------------------
RCR Plumbing and Mechanical, Inc., reported a net loss of $624,538
on $2.4 million of revenue for the month ended Feb. 29, 2012.

At Feb. 29, 2012, the Debtor had $14.8 million in total assets,
$20.7 million in total liabilities, and a stockholders' deficit of
$5.9 million.

A copy of the February 2012 monthly operating report is available
at http://bankrupt.com/misc/rcrplumbing.february2012mor.pdf

RCR Plumbing and Mechanical, Inc., reported a net loss of $729,068
on $3.0 million of revenue for the month ended Jan. 31, 2012.

A copy of the January 2012 monthly operating report is available
at http://bankrupt.com/misc/rcrplumbing.january2012mor.pdf

RCR Plumbing and Mechanical, Inc., reported a net loss of $428,470
on $3.7 million of revenue for the month ended Dec. 31, 2011.

A copy of the December 2011 monthly operating report is available
at http://bankrupt.com/misc/rcrplumbing.december2011mor.pdf

                         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. 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.


REAL MEX: Has $816,303 Cash at January 24
-----------------------------------------
Real Mex Restaurants, Inc., et al., reported a net loss of
$8.4 million on $26.8 million of net revenue for the fiscal month
ended Jan. 24, 2012.

The Debtors' balance sheet at Jan. 24, 2012, showed $174.1 million
in total assets, $331.1 million in total liabilities, and a
stockholders' deficit of $157.0 million.  The Debtors ended the
period with $816,303 cash

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

     http://bankrupt.com/misc/realmex.jan24fiscalmonthmor.pdf

                         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.


ROBB & STUCKY: Posts $493,000 Net Loss in February 2012
-------------------------------------------------------
Robb & Stucky Limited LLLP reported a net loss of $493,000 on
on $0 sales for the month ended Feb. 29, 2012.

At Feb. 29, 2012, the Debtor had $6.2 million in total assets,
$67.5 million in total liabilities, and a partners' deficit of
$61.3 million.

A copy of the operating report is available at:

       http://bankrupt.com/misc/robb&stucky.feb2012mor.pdf

                      About Robb & Stucky

Sarasota, Florida-based Robb & Stucky Limited LLLP -- dba Robb &
Stucky; Robb & Stucky Interiors; Fine Design Interiors, a division
of Robb & Stucky; Robb & Stucky Patio; R&S Home of Fine
Decorators; and Home of Fine Design by Robb & Stucky --
operated a chain of 24 retail stores offering "high-end home
furnishings" in five states.

Robb & Stucky filed for Chapter 11 bankruptcy protection (Bankr.
M.D. Fla. Case No. 11-02801) on Feb. 18, 2011.  Paul S. Singerman,
Esq., and Jordi Guso, Esq., at Berger Singerman PA, serve as the
Debtor's bankruptcy counsel.  FTI Consulting, Inc., is the
Debtor's advisor and Kevin Regan is the Debtor's chief
restructuring officer.  Bayshore Partners, LLC, is the Debtor's
investment banker.  AlixPartners, LLP, serves as the Debtor's
communications consultants.  Epiq Bankruptcy Solutions, LLC,
serves as the Debtor's claims and notice agent.  In its schedules,
the Debtor disclosed $77,705,081 in assets and $91,859,125 in
liabilities as of the Chapter 11 filing.

Donald F. Walton, U.S. Trustee for Region 21, appointed the
Official Committee of Unsecured Creditors in the Debtor's case.
The Committee tapped Cooley LLP as its lead counsel; Broad and
Cassel as its local bankruptcy counsel; and BDO USA LLP as its
financial advisor.


SAINT VINCENTS: Posts $518,197 Net Loss in January 2012
-------------------------------------------------------
Saint Vincents Catholic Medical Centers of New York, et al.,
reported a decrease in net assets of $518,197 on $13 million
of operating revenue for January 2012.

At Jan. 31, 2012, the Debtors' balance sheet showed $127.7 million
in total assets, $651.1 million in total liabilities, and a net
asset deficit of $523.4 million.

A copy of the consolidated monthly operating report for
January 2012 is available for free at:

    http://bankrupt.com/misc/saintvincents.january2012mor.pdf


                        About Saint Vincents

Saint Vincents Catholic Medical Centers of New York, doing
business as St. Vincent Catholic Medical Centers --
http://www.svcmc.org/-- was anchored by St. Vincent's Hospital
Manhattan, an academic medical center located in Greenwich Village
and the only emergency room on the Westside of Manhattan from
Midtown to Tribeca, St. Vincent's Westchester, a behavioral health
hospital in Westchester County, and continuing care services that
include two skilled nursing facilities in Brooklyn, another on
Staten Island, a hospice, and a home health agency serving the
Metropolitan New York area.

Saint Vincent Catholic Medical Centers of New York and six of its
affiliates first filed for Chapter 11 protection on July 5, 2005
(Bankr. S.D.N.Y. Case Nos. 05-14945 through 05-14951).

St. Vincents Catholic Medical Centers returned to bankruptcy court
by filing another Chapter 11 petition (Bankr. S.D.N.Y. Case No.
10-11963) on April 14, 2010.  The Debtor estimated assets of
$348 million against debts totaling $1.09 billion in the new
petition.

Although the hospitals emerged from the prior reorganization in
July 2007 with a Chapter 11 plan said to have "a realistic chance"
of paying all creditors in full, the bankruptcy left the medical
center with more than $1 billion in debt.  The new filing occurred
after a $64 million operating loss in 2009 and the last potential
buyer terminated discussions for taking over the flagship
hospital.

Adam C. Rogoff, Esq., and Kenneth H. Eckstein, Esq., at Kramer
Levin Naftalis & Frankel LLP, represent the Debtor in its
Chapter 11 effort.


SHARPER IMAGE: Ends February With $1.98 Million in Cash
-------------------------------------------------------
TSIC, Inc., formerly known as Sharper Image Corp., on March 22,
2012, filed its monthly operating report with the Bankruptcy Court
for the period from Feb. 1 through Feb. 29, 2012.

TSIC reported a net loss of $70,136 for the month ended
Feb. 29, 2012.

As of Feb. 29, 2012, the company had total assets of $2.83
million, total liabilities of $(95.47) million and total
stockholders' equity of $92.64 million.

At the beginning of the month, the company had $2.02 million in
cash.  TSIC had total cash receipts of $378 and total cash
disbursements of $42,290.  As a result, at the end of February
2012, the company had total cash of $1.98 million.

A full-text copy of the monthly operating report is available at:

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

                      About Sharper Image

Headquartered in San Francisco, California, Sharper Image Corp. --
http://www.sharperimage.com/-- was a multi-channel specialty
retailer.  It operated in three principal selling channels: the
Sharper Image specialty stores throughout the U.S., the Sharper
Image catalog and the Internet.  The Company has operations in
Australia, Brazil and Mexico.  In addition, through its Brand
Licensing Division, it was also licensing the Sharper Image brand
to select third parties to allow them to sell Sharper Image
branded products in other channels of distribution.

The Company filed for Chapter 11 protection on Feb. 19, 2008
(Bankr. D. Del. Case No. 08-10322).  Judge Kevin Gross presides
over the case.  Harvey R. Miller, Esq., Lori R. Fife, Esq., and
Christopher J. Marcus, Esq., at Weil, Gotshal & Manges, LLP, serve
as the Company's lead counsel.  Steven K. Kortanek, Esq., and John
H. Strock, Esq., at Womble, Carlyle, Sandridge & Rice, P.L.L.C.,
serve as the Company's local Delaware counsel.

An official committee of unsecured creditors was appointed in the
case.  Cooley Godward Kronish LLP is the Committee's lead
bankruptcy counsel.  Whiteford Taylor Preston LLC is the
Committee's Delaware counsel.

When the Debtor filed for bankruptcy, it disclosed total assets of
$251,500,000 and total debts of $199,000,000.  As of June 30,
2008, the Debtor disclosed $52,962,174 in total assets and
$39,302,455 in total debts.

Sharper Image changed its name to "TSIC, Inc." following the going
out of business sales of its assets by a group consisting of
Gordon Brothers Retail Partners, LLC, GB Brands, LLC, Hilco
Merchant Resources, LLC, and Hilco Consumer Capital, LLC.


SHENGDATECH INC: Posts $544,000 Net Loss in February 2012
---------------------------------------------------------
ShengdaTech, Inc., filed with the U.S. Bankruptcy Court for the
District of Nevada on March 20, 2012, its monthly operating report
for February 2012.

The Debtor reported a net loss of $544,000 for the period.

At Feb. 29, 2012, the Debtor had $7.5 million in total assets,
$165.1 million in total liabilities, and a stockholders' deficit
of $157.6 million.

A copy of the February 2012 operating report is available for free
at http://bankrupt.com/misc/shengdatech.february2012mor.pdf

ShengdaTech, Inc., reported a net loss of $1.2 million for the
month ended Jan. 31, 2012.

At Jan. 31, 2012, the Debtor had $9.0 million in total assets,
$166.0 million in total liabilities, and a stockholders' deficit
of $157.0 million.

A copy of the January 2011 operating report is available for free
at http://bankrupt.com/misc/shengdatech.january2012mor.pdf

ShengdaTech, Inc., reported a net loss of $1.8 million for the
period.

At Dec. 31, 2011, the Debtor had $10.2 million in total assets,
$166.0 million in total liabilities, and a stockholders' deficit
of $155.8 million.

A copy of the December 2011 operating report is available for free
at http://bankrupt.com/misc/shengdatech.december2011mor.pdf

                         About ShengdaTech

Headquartered in Shanghai, China, ShengdaTech, Inc., makes nano
precipitated calcium carbonate for the tire industry.
ShengdaTech converts limestone into nano-precipitated calcium
carbonate (NPCC) using its proprietary and patent-protected
technology.  NPCC products are increasingly used in tires, paper,
paints, building materials, and other chemical products.  In
addition to its broad customer base in China, the Company
currently exports to Singapore, Thailand, South Korea, Malaysia,
India, Latvia and Italy.

ShengdaTech sought Chapter 11 bankruptcy protection from creditors
(Bankr. D. Nev. Case No. 11-52649) on Aug. 19, 2011, in Reno,
Nevada, in the United States.

The Shanghai-China based company said in its bankruptcy filing it
would fire all of its officers and restructure to try to recover
from an accounting scandal.

The Company disclosed US$295.4 million in assets and US$180.9
million in debt as of Sept. 30, 2011.

The Company's legal representative in its Chapter 11 case is
Greenberg Traurig, LLP.  On Aug. 23, 2011, the Court entered an
interim order confirming the Board of Directors Special
Committee's appointment of Michael Kang as the Debtor's chief
restructuring officer.

Alvarez & Marsal North America, LLC, is the Company's chief
restructuring officer.

As reported in the TCR on Sept. 7, 2011, the United States
Trustee appointed AG Ofcon, LLC, The Bank of New York, Mellon (in
its role as indenture trustee for bondholders), and Zazove
Associates, LLC, to serve on the Official Committee of Unsecured
Creditors of ShengdaTech, Inc.

Hogan Lovells US serves as counsel for ShengdaTech's official
committee of unsecured creditors.


SP NEWSPRINT: Posts $3.9-Mil. Net Loss in January 2012
------------------------------------------------------
SP Newsprint Holdings LLC, et al., reported a net loss of
$3.9 million on $39.7 million of net revenues for the period ended
Jan. 31, 2012.

At Jan. 31, 2012, the Debtors had $346.7 million in total assets,
$417.9 million in total liabilities, and a partners' deficit of
$71.2 million.  The Debtors ended the period with a book balance
of $23.3 million in cash and short term investments.

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

     http://bankrupt.com/misc/spnewsprint.january2012mor.pdf

                        About SP Newsprint

Greenwich, Conn.-based SP Newsprint Holdings LLC -- aka Bulldog
Acquisition I LLC, Bulldog Acquisition II LLC, Publishers Papers,
Southeastern Paper Recycling and SP Newsprint Merger LLC -- and
three affiliates, SP Newsprint Co. LLC, SP Recycling Corporation
and SEP Technologies L.L.C, filed for Chapter 11 bankruptcy
(Bankr. D. Del. Lead Case No. 11-13649) on Nov. 15, 2011.

SP Newsprint Holdings LLC is a newsprint company controlled by
polo-playing mogul Peter Brant.  It is one of the largest
producers of newsprint in North America.  SP Recycling
Corporation, a Georgia corporation and the Debtors' other
operating company, was established in 1980 as a means for SP to
secure a ready supply of recycled fiber, a key raw material for
its newsprint.

SP Newsprint is the second Brant-owned newsprint company to tumble
into bankruptcy proceedings in recent years.  Current and former
affiliated entities are Bear Island Paper Company, L.L.C., Brant
Industries, Inc., F.F. Soucy, Inc., Soucy Partners Newsprint,
Inc., White Birch Paper Company.

Judge Christopher S. Sontchi presides over the case.  Joel H.
Levitin, Esq., Maya Peleg, Esq., and Richard A. Stieglitz Jr.,
Esq. -- jlevitin@cahill.com , mpeleg@cahill.com and
rstieglitz@cahill.com -- at Cahill Gordon & Reindel LLP serve as
the Debtors' lead counsel.  Lee E. Kaufman, Esq., and Mark D.
Collins, Esq. -- kaufman@rlf.com and collins@RLF.com -- at
Richards, Layton & Finger, P.A., serve as the Debtors' Delaware
counsel.  AlixPartners LLP serves as the Debtors' financial
advisors and The Garden City Group Inc. serves as the Debtors'
claims and noticing agent.  SP Newsprint Co., LLC, disclosed
$317,992,392 in assets and $322,674,963 in liabilities as of the
Chapter 11 filing.  The petitions were signed by Edward D.
Sherrick, executive vice president and chief financial officer.

The Official Committee of Unsecured Creditors is represented by
Lowenstein Sandler PC.  Ashby & Geddes, P.A., serves as its
Delaware counsel, and BDO Consulting serves as its financial
advisor.


SPECIALTY PRODUCTS: Posts $1.7-Mil. Net Loss in January 2012
------------------------------------------------------------
Specialty Products Holdings Corp. reported a net loss of
$1.7 million on $0 revenue for the month ended Jan. 31, 2012.

At Jan. 31, 2012, the Debtor had $472.8 million in total assets,
$226.7 million in total liabilities, and stockholders' equity of
$246.1 million.  The Debtor had unrestricted cash and equivalents
of $$26,059,798 at Jan. 31, 2012, from $25,828,428 at the
beginning of the period.  Professional fees paid in the month
totaled $354,344.

A copy of the January 2012 monthly operating report is available
for free at:

    http://bankrupt.com/misc/specialtyproducts.jan2012mor.pdf

                      About Specialty Products

Cleveland, Ohio-based Specialty Products Holdings Corp., aka RPM,
Inc., is a wholly owned subsidiary of RPM International Inc.  The
Company is the holding company parent of Bondex International,
Inc., and the direct or indirect parent of certain additional
domestic and foreign subsidiaries.  The Company claims to be a
leading manufacturer, distributor and seller of various specialty
chemical product lines, including exterior insulating finishing
systems, powder coatings, fluorescent colorants and pigments,
cleaning and protection products, fuel additives, wood treatments
and coatings and sealants, in both the industrial and consumer
markets.

The Company filed for Chapter 11 bankruptcy protection on May 31,
2010 (Bankr. D. Del. Case No. 10-11780).  Gregory M. Gordon, Esq.,
Dan B. Prieto, Esq., and Robert J. Jud, Esq., at Jones Day, serve
as bankruptcy counsel.  Daniel J. DeFranceschi, Esq., and Zachary
I. Shapiro, Esq., at Richards Layton & Finger, serve as
co-counsel.  Logan and Company is the Company's claims and notice
agent.

The Company estimated its assets and debts at $100,000,001 to
$500,000,000.

The Company's affiliate, Bondex International, Inc., filed a
separate Chapter 11 petition on May 31, 2010 (Case No. 10-11779),
estimating its assets and debts at $100,000,001 to $500,000,000.


SPECIALTY PRODUCTS: Bondex Int'l Posts $36,662 January Net Loss
---------------------------------------------------------------
Bondex International, Inc., reported a net loss of $36,662 on
$0 revenue for the month of January 2012.

At Jan. 31, 2012, the Debtor had ($181.5) million in total
assets, $366.9 million in total liabilities, and a stockholders'
deficit of $548.4 million.

A copy of the January 2012 monthly operating report is available
for free at:

     http://bankrupt.com/misc/bondexint'l.january2012mor.pdf

                      About Specialty Products

Cleveland, Ohio-based Specialty Products Holdings Corp., aka RPM,
Inc., is a wholly owned subsidiary of RPM International Inc.  The
Company is the holding company parent of Bondex International,
Inc., and the direct or indirect parent of certain additional
domestic and foreign subsidiaries.  The Company claims to be a
leading manufacturer, distributor and seller of various specialty
chemical product lines, including exterior insulating finishing
systems, powder coatings, fluorescent colorants and pigments,
cleaning and protection products, fuel additives, wood treatments
and coatings and sealants, in both the industrial and consumer
markets.

The Company filed for Chapter 11 bankruptcy protection on May 31,
2010 (Bankr. D. Del. Case No. 10-11780).  Gregory M. Gordon, Esq.,
Dan B. Prieto, Esq., and Robert J. Jud, Esq., at Jones Day, serve
as bankruptcy counsel.  Daniel J. DeFranceschi, Esq., and Zachary
I. Shapiro, Esq., at Richards Layton & Finger, serve as
co-counsel.  Logan and Company is the Company's claims and notice
agent.

The Company estimated its assets and debts at $100,000,001 to
$500,000,000.

The Company's affiliate, Bondex International, Inc., filed a
separate Chapter 11 petition on May 31, 2010 (Case No. 10-11779),
estimating its assets and debts at $100,000,001 to $500,000,000.


TERRESTAR CORP: Posts $1.43-Mil. Net Loss in February 2012
----------------------------------------------------------
TerreStar Corporation, et al., reported a net loss of
$1.43 million on $2.0 million of revenues for the filing period
ended Feb. 29, 2012.

The TSC Debtors are: TerreStar Corporation, TerreStar Holdings
Inc., TerreStar New York Inc., Motient Communications Inc.,
Motient Holdings Inc., Motient License Inc., Motient Services
Inc., Motient Ventures Holding Inc., and MVH Holdings Inc.

The TSC Debtors' balance sheet at Feb. 29, 2012, showed
$638.8 million in total assets, $515.0 million in total
liabilities, and stockholders' equity of $123.8 million.

The TSC Debtors ended Feb. 29, 2012, with $7.17 million in cash
and cash equivalents, compared to $6.42 million at the beginning
of the period.

A copy of the TSC Debtors' February 2012 operating report is
available for free at:

         http://bankrupt.com/misc/tsc.february2012mor.pdf

TerreStar Corporation, et al., reported a net loss of
$2.05 million on $2.0 million of revenues for the filing period
ended Jan. 31, 2012.

The TSC Debtors are: TerreStar Corporation, TerreStar Holdings
Inc., TerreStar New York Inc., Motient Communications Inc.,
Motient Holdings Inc., Motient License Inc., Motient Services
Inc., Motient Ventures Holding Inc., and MVH Holdings Inc.

The TSC Debtors' balance sheet at Jan. 31, 2012, showed
$638.0 million in total assets, $512.7 million in total
liabilities, and stockholders' equity of $125.3 million.

The TSC Debtors ended Jan. 31, 2012, with $6.42 million in cash
and cash equivalents, compared to $7.99 million at the beginning
of the period.

A copy of the TSC Debtors' January 2012 operating report is
available for free at:

         http://bankrupt.com/misc/tsc.january2012mor.pdf

           About TerreStar Corp. and TerreStar Networks

TerreStar Corporation and TerreStar Holdings, Inc., filed
voluntary Chapter 11 petitions with the U.S. Bankruptcy Court for
the Southern District of New York on Feb. 16, 2011.

TSC's Chapter 11 filing joins the bankruptcy proceedings of
TerreStar Networks Inc. and 12 other affiliates, which filed on
Oct. 19, 2010.  The October Chapter 11 cases are procedurally
consolidated under TSN's Case No. 10-15446 under Judge Sean H.
Lane.

TSC is the parent company of each of the October Debtors.  TSC has
four wholly owned direct subsidiaries: TerreStar Holdings, Inc.,
TerreStar New York Inc., Motient Holdings Inc., and MVH Holdings
Inc.

TSC's case is jointly administered with the cases of seven of the
October Debtors under the caption In re TerreStar Corporation, et
al., Case No. 11-10612 (SHL).  The seven Debtor entities who
sought joint administration with TSC are TerreStar New York Inc.,
Motient Communications Inc., Motient Holdings Inc., Motient
License Inc., Motient Services Inc., Motient Ventures Holdings
Inc., and MVH Holdings Inc.

TSC is a Delaware corporation whose main asset is the equity in
non-Debtor TerreStar 1.4 Holdings LLC, which has the right to use
a "1.4 GHz terrestrial spectrum" pursuant to 64 licenses issued by
the Federal Communication Commission.  TSC also has an indirect
89.3% ownership interest in TerreStar Network, Inc., which
operates a separate and distinct mobile communications business.
TerreStar Holdings is a Delaware corporation that directly holds
100% of the interests in 1.4 Holdings LLC.

TerreStar Networks -- TSN -- the principal operating entity of
TSC, developed an innovative wireless communications system to
provide mobile coverage throughout the United States and Canada
using satellite-terrestrial smartphones.  The system, however,
required an enormous amount of capital expenditures and initially
produced very little in the way of revenue.  TSN's available cash
and borrowing capacity were insufficient to cover its funding;
thus, forcing TSN to seek bankruptcy protection in October 2010.
TSC estimated assets and debts of $100 million to $500million in
its Chapter 11 petition.

Ira S. Dizengoff, Esq., at Akin, Gump, Strauss, Hauer & Feld, LLP,
in New York, serves as counsel for the TSC and TSN Debtors.
Garden City Group is the claims and notice agent.  Blackstone
Advisory Partners LP is the financial advisor.  The Garden City
Group, Inc., is the claims and noticing agent in the Chapter 11
cases.

Otterbourg Steindler Houston & Rosen P.C. is the counsel to the
Official Committee of Unsecured Creditors formed in TSN's Chapter
11 cases.  FTI Consulting, Inc., is the Committee's financial
advisor.

TerreStar has signed a contract to sell its business to Dish
Network Corp. for $1.38 billion.  TerreStar cancelled a June 30
auction because there were no competing bids submitted by the
deadline.

As reported in the TCR on Nov. 23, 2011, TerreStar Networks Inc.
sold the business to Dish Network Corp. for $1.38 billion,
negotiated a settlement with creditors, and filed a liquidating
Chapter 11 plan.  Bill Rochelle, the bankruptcy columnist for
Bloomberg News, reports the hearing to approve the explanatory
disclosure statement is set for Dec. 16.  If the plan stays on
track, the confirmation hearing for approval of the plan would
take place Feb. 13.


THORNBURG MORTGAGE: Ends February With $101.06 Million in Cash
--------------------------------------------------------------
TMST, Inc., f/k/a Thornburg Mortgage, Inc., on March 21, 2012,
filed its monthly operating report with the Bankruptcy Court for
the period from Feb. 1 through Feb. 29, 2012.

TMST posted a net loss of $492,186 for the month ended
Feb. 29, 2012.

As of Feb. 29, 2012, TMST had total assets of $102.68 million,
total liabilities of $3.43 billion, resulting in a stockholders'
deficit of $3.33 billion.

At the beginning of the month, TMST had $101.74 million in cash.
The company had total cash receipts of $1,748 and total cash
disbursements of $688,476.  As a result, at the end of February
2012, TMST had total cash of $101.06 million.

A full-text copy of the monthly operating report is available at:

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

                      About Thornburg Mortgage

Based in Santa Fe, New Mexico, Thornburg Mortgage Inc. (NYSE: TMA)
-- http://www.thornburgmortgage.com/-- was a single- family
residential mortgage lender focused principally on prime and
super-prime borrowers seeking jumbo and super-jumbo adjustable
rate mortgages.  It originated, acquired, and retained investments
in adjustable and variable rate mortgage assets.  Its ARM assets
comprised of purchased ARM assets and ARM loans, including
traditional ARM assets and hybrid ARM assets.

Thornburg Mortgage and its four affiliates filed for Chapter 11
bankruptcy (Bankr. D. Md. Lead Case No. 09-17787) on May 1, 2009.
Thornburg changed its name to TMST, Inc.

Judge Duncan W. Keir is handling the case.  David E. Rice, Esq.,
at Venable LLP, in Baltimore, Maryland, served as counsel to
Thornburg Mortgage.  Orrick, Herrington & Sutcliffe LLP served as
special counsel.  Jim Murray, and David Hilty, at Houlihan Lokey
Howard & Zukin Capital, Inc., served as investment banker and
financial advisor.  Protiviti Inc. served as financial advisory
services.  KPMG LLP served as the tax consultant.  Epiq Systems,
Inc., serves claims and noticing agent.  Thornburg disclosed total
assets of $24.4 billion and total debts of $24.7 billion, as of
Jan. 31, 2009.

On Oct. 28, 2009, the Court approved the appointment of Joel I.
Sher as the Chapter 11 Trustee for the Company, TMST Acquisition
Subsidiary, Inc., TMST Home Loans, Inc., and TMST Hedging
Strategies, Inc.  He is represented by Shapiro Sher Guinot &
Sandler.


TOUSA INC: Ends January 2012 With $301-Mil. Cash
------------------------------------------------
TOUSA, Inc., et al., reported a net loss of $1.6 million on
$nil revenue for the month of January 2012.

At Jan. 31, 2012, TOUSA, Inc., and subsidiaries had $335.0 million
in total assets, $1.899 billion in total liabilities, and a
stockholders' deficit of $1.564 billion.

The Debtors ended the period with cash in bank of $301,005,933.
The Debtors paid a total of $664,978 in professional fees during
the month.

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

       http://bankrupt.com/misc/tousainc.january2012mor.pdf
                         About Tousa Inc.

Headquartered in Hollywood, Florida, TOUSA, Inc. (Pink Sheets:
TOUS) -- http://www.tousa.com/-- fka Technical Olympic U.S.A.
Inc., dba Technical U.S.A., Inc., Engle Homes, Newmark Homes L.P.,
TOUSA Homes Inc. and Newmark Homes Corp. is a leading homebuilder
in the United States, operating in various metropolitan markets in
10 states located in four major geographic regions: Florida, the
Mid-Atlantic, Texas, and the West.

The Debtor and its debtor-affiliates filed for separate
Chapter 11 protection on Jan. 29, 2008 (Bankr. S.D. Fla. Case
No. 08-10928).  Richard M. Cieri, Esq., M. Natasha Labovitz,
Esq., and Joshua A. Sussberg, Esq., at Kirkland & Ellis LLP, in
New York, N.Y.; and Paul S. Singerman, Esq., at Berger Singerman,
in Miami, Fla., represent the Debtors in their restructuring
efforts.  Lazard Freres & Co. LLC is the Debtors' investment
banker.  Ernst & Young LLP is the Debtors' independent auditor and
tax services provider.  Kurtzman Carson Consultants LLC acts as
the Debtors' Notice, Claims & Balloting Agent.

TOUSA's direct subsidiary, Beacon Hill at Mountain's Edge LLC dba
Eagle Homes, filed for Chapter 11 Protection on July 30, 2008
(Bankr. S.D. Fla. Case No. 08-20746).  It estimated assets and
debts of $1 million to $10 million in its Chapter 11 petition.

The official committee of unsecured creditors has filed a proposed
chapter 11 liquidating plan for Tousa.  However, the committee
said that it no longer intends to pursue approval of its
liquidation plan because of the pending appeal of its fraudulent
transfer case in the U.S. Court of Appeals for the Eleventh
Circuit.  A district court in February 2011 held that the
bankruptcy judge was wrong in ruling that lenders who were paid
off received fraudulent transfers when Tousa gave liens on
subsidiaries' properties to bail out and refinance a joint
venture.  Daniel H. Golden, Esq., and Philip C. Dublin, Esq., at
Akin Gump Strauss Hauer & Feld LLP, in New York, N.Y., represent
the creditors committee.

Tousa's reorganization plan is on hold either temporarily or
permanently pending appeal to the Court of Appeals from a ruling
by a U.S. district judge in February reversing the bankruptcy
judge.  The district court held that the bankruptcy judge was
wrong in ruling that other lenders who were paid off before
bankruptcy received fraudulent transfers when Tousa gave liens on
subsidiaries' properties to bail out and refinance a joint
venture.  The Tousa committee filed a Chapter 11 plan in July 2010
based on an assumption it would win the appeal.


TRAILER BRIDGE: Posts $1.4-Mil. Net Loss in January 2012
--------------------------------------------------------
Trailer Bridge, Inc., reported a net loss of $1.4 million on net
revenue of $9.0 million in January 2012.  Reorganization expenses
in the month were $826,589.  Depreciation/Depletion/Amortization
expense was $451,762 and interest expense was $392,799.

The Debtor's balance sheet at Jan. 31, 2012, showed $113.7 million
in total assets, $137.9 million in total liabilities, and a
stockholders' deficit of $24.2 million.

The Debtor ended the period with unrestricted cash and equivalents
of $16.2 million.  Beginning cash was $16.3 million.

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

    http://bankrupt.com/misc/trailerbridge.january2012mor.pdf

                       About Trailer Bridge

Headquartered in Jacksonville, Florida, Trailer Bridge, Inc. --
http://www.trailerbridge.com/-- provides integrated trucking and
marine freight service to and from all points in the lower 48
states and Puerto Rico and Dominican Republic.  This total
transportation system utilizes its own trucks, drivers, trailers,
containers and U.S. flag vessels to link the mainland with Puerto
Rico via marine facilities in Jacksonville, San Juan and Puerto
Plata.

Trailer Bridge filed a voluntary Chapter 11 bankruptcy petition
(Bankr. M.D. Fla. Case No. 11-08348) on Nov. 16, 2011, one day
after its $82.5 million 9.25% Senior Secured Notes became due.

Gardner F. Davis, Esq., at Foley & Lardner LLP, and DLA Piper LLP
(US) serve as the Debtor's counsel.  Global Hunter Securities LLC
serves as the Debtor's investment banker.  RAS Management Advisors
LLC serves as the Debtor's financial advisor.  Kurtzman Carson
Consultants LLC serves as claims, noticing, and balloting agent.
The Debtor disclosed $97,345,981 in assets, and $112,538,934 in
liabilities.

On Dec. 6, 2011, the U.S. Trustee appointed an Official Committee
of Unsecured Creditors in the Debtor's case.


TRIDENT MICROSYSTEMS: Posts $1.6 Million Net Loss in January 2012
-----------------------------------------------------------------
Trident Microsystems, Inc., and Trident Microsystems (Far East)
Ltd. filed on Feb. 29, 2012, a monthly operating report for the
month ended Jan. 31, 2012.

TMI reported a net loss of $1.6 million on $5.1 million of net
revenues for the month.  TMI's balance sheet at Jan. 31, 2012,
showed $301.68 million in total assets, $39.25 million in total
liabilities, and net owner equity of $262.43 million.

TMFE reported a net loss of $11.0 million on $9.0 million of net
revenues for the month.  TMFE's balance sheet at Jan. 31, 2012,
showed $222.17 million in total assets, $200.23 million in total
liabilities, and net owner equity of $21.94 million.

A copy of the January 2012 monthly operating report is available
for free at http://bankrupt.com/misc/trident.january2012mor.pdf

                   About Trident Microsystems

Sunnyvale, California-based Trident Microsystems, Inc., designs,
develops, and markets integrated circuits and related software for
processing, displaying, and transmitting high quality audio,
graphics, and images in home consumer electronics applications
such as digital TVs, PC-TV, and analog TVs, and set-top boxes.
The Company has research and development facilities in Beijing and
Shanghai, China; Freiburg, Germany; Eindhoven and Nijmegen, The
Netherlands; Belfast, United Kingdom; Bangalore and Hyderabad,
India; Austin, Texas; and Sunnyvale, California.  The Company has
sales offices in Seoul, South Korea; Tokyo, Japan; Hong Kong and
Shenzhen, China; Taipei, Taiwan; San Diego, California; Mumbai,
India; and Suresnes, France. The Company also has operations
facilities in Taipei and Kaoshiung, Taiwan; and Hong Kong, China.

Trident Microsystems and its Cayman subsidiary, Trident
Microsystems (Far East) Ltd. filed for Chapter 11 bankruptcy
protection (Bankr. D. Del. Lead Case No. 12-10069) on Jan. 4,
2011.  Trident then promptly sought for protection in the Cayman
Islands.

Judge Christopher S. Sontchi presides over the case.  Lawyers at
DLA Piper LLP (US) serve as the Debtors' counsel.  FTI Consulting,
Inc., is the financial advisor.  Union Square Advisors LLC serves
as the Debtors' investment banker.  PricewaterhouseCoopers LLP
serves as the Debtors' tax advisor and independent auditor.
Kurtzman Carson Consultants is the claims and notice agent.

Trident disclosed $310 million in assets and $39.6 million in
liabilities as of Oct. 31, 2011.

The Official Committee of Unsecured Creditors of Trident
Microsystems, Inc., et al., tapped Pachulski Stang Ziehl & Jones
LLP as its counsel, and Imperial Capital, LLC, as its investment
banker and financial advisor.

Roberta A. DeAngelis, the U.S. Trustee for Region 3, appointed
three members to the Committee of Equity Security Holders.


ULTIMATE ESCAPES: Reports $26.5MM Net Loss in Month ended Jan. 3
----------------------------------------------------------------
Ultimate Escapes Holdings, LLC, et al., reported a net loss of
$26.5 million on $0 revenue for the period Dec. 1, 2011, to
Jan. 3, 2012.

At Jan. 3, 2012, the Debtors' balance sheet showed $43.5 million
in total assets, $219.6 million in total liabilities, and a
stockholders' deficit of $176.1 million.  The Debtors ended the
period with $0 unrestricted cash and equivalents and $150,000 in
restricted cash and equivalents.

A copy of the Jan. 2012 monthly operating report is available
for free at:

   http://bankrupt.com/misc/ultimaterexcapes.dec,.1-jan3mor.pdf

                      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.

As reported in the TCR on Feb. 1, 2012, the Effective Date of the
Second Amended Chapter 11 Liquidating Plan proposed by Ultimate
Escapes Holdings, LLC, et al., occurred on Jan. 3, 2012.


                          *********

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 2012 .  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
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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
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The TCR subscription rate is $775 for 6 months delivered via e-
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firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter Chapman
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                  *** End of Transmission ***