TCR_Public/120428.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, April 28, 2012, Vol. 16, No. 117

                            Headlines

AMERICANWEST BANCORP: Ends March With $5.53 Million in Cash
CAGLE'S, INC.: Ends Period With $2.75 Million in Cash
CANO PETROLEUM: Has $496-K in Cash at the End of March 2012
FIRSTFED FINANCIAL: Ends March With $2.31 Million in Cash
PMI GROUP: Ends March 2012 With $164.06 Million in Cash

SHARPER IMAGE: Ends March 2012 With $1.33 Million in Cash
SHENGDATECH INC: Posts $611,000 Net Loss in March 2012





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AMERICANWEST BANCORP: Ends March With $5.53 Million in Cash
-----------------------------------------------------------
AmericanWest Bancorporation, on April 18, 2012, filed its monthly
operating report for the month ended March 31, 2012.

The company reported a net loss of $5,260 for the month ended
March 31, 2012.

As of March 31, 2012, the company had total assets of $6.95
million, and total liabilities of $47.41 million, resulting in a
stockholders' deficit of $40.46 million.

At the beginning of March, AmericanWest Bancorp had $5.54 million
in cash.  The company had total cash receipts of $5.53 million and
total cash disbursements of $5,811.  As a result, as of March 31,
2012, AmericanWest Bancorp had total cash of $5.53 million.

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

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

                 About AmericanWest Bancorporation

Headquartered in Spokane, Washington, AmericanWest Bancorporation
(OTC BB: AWBC) -- http://www.awbank.net/-- was a bank holding
company whose principal subsidiary was AmericanWest Bank, which
included Far West Bank in Utah operating as an integrated division
of AmericanWest Bank.  AmericanWest Bank was a community bank with
58 financial centers located in Washington, Northern Idaho and
Utah.

AmericanWest Bancorporation filed for Chapter 11 protection
(Bankr. E.D. Wash. Case No. 10-06097) on Oct. 28, 2010.  The
banking subsidiary was not included in the Chapter 11 filing.

Christopher M. Alston, Esq., and Dillon E. Jackson, Esq., at
Foster Pepper Shefelman PLLC, in Seattle, Washington, serve as
bankruptcy counsel.  G. Larry Engel, Esq., at Morrison & Foerster
LLP, also serves as counsel.

The Debtor estimated assets of $1 million to $10 million and debts
of $10 million to $50 million in its Chapter 11 petition.
AmericanWest Bancorporation's estimates exclude its banking unit's
assets and debts.  In its Form 10-Q filed with the Securities and
Exchange Commission before the Petition Date, AmericanWest
Bancorporation reported consolidated assets -- including its bank
unit's -- of $1.536 billion and consolidated debts of
$1.538 billion as of Sept. 30, 2010.

In December 2010, AmericanWest completed the sale of all
outstanding shares of AmericanWest Bank to a wholly owned
subsidiary of SKBHC Holdings LLC, in a transaction approved by the
U.S. Bankruptcy Court.


CAGLE'S, INC.: Ends Period With $2.75 Million in Cash
-----------------------------------------------------
Cagle's, Inc., on April 13, 2012, filed its monthly operating
report with the Bankruptcy Court for the period from Jan. 29
through March 3, 2012.

The Debtor posted a net income of $483,000 on sales of
$29.82 million for the period from Jan. 29 to Mar. 3, 2012.

The Debtor's balance sheet as of March 3, 2012, showed total
assets of $80.33 million, total liabilities of $74.36 million and
total stockholders' equity of $5.97 million.

As of Jan. 29, 2012, Cagle's had $1.75 million in funds.  The
Debtor had total cash receipts of $29.81 million and total cash
disbursements of $28.81 million.  As a result, as of March 3,
2012, Cagle's had total cash of $2.75 million.

                           About Cagle's

Cagle's Farms (NYSE: CGL.A) -- http://www.cagles.net/-- engages
in the production, marketing, and distribution of fresh and frozen
poultry products in the United States.

Cagle's Inc. and its wholly owned subsidiary Cagle's Farms filed
on Oct. 19, 2011, voluntary petitions for relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 11-80202 and
11-80203).  Paul K. Ferdinands, Esq., at King & Spalding, in
Atlanta, Georgia, serves as counsel.  FTI Consulting, Inc., serves
as the Debtors' financial advisors.  Kurtzman Carson LLC serves as
their claims, noticing, and balloting agent.

In its schedules, Cagle's Inc. disclosed $81,998,077 in assets and
$55,304,599 in liabilities as of the Petition Date.

The Official Committee of Unsecured Creditors is represented by
McKenna Long & Aldridge LLP and Lowenstein Sandler as counsel.
J.H. Cohn LLP serves as its financial advisors.

No trustee or examiner has been appointed in the Debtors'
bankruptcy cases.


CANO PETROLEUM: Has $496-K in Cash at the End of March 2012
-----------------------------------------------------------
Cano Petroleum, Inc., on April 20, 2012, filed its monthly
operating report for the month ended March 31, 2012.

The company reported a net loss of $298,909 for the month
ended March 31, 2012.

As of March 31, 2012, Cano Petroleum had total assets of $132.46
million, total liabilities of $82.65 million and total equity of
$49.81 million.

At the beginning of the month, the company had $590,434 in cash.
Cano Petroleum had total cash disbursements of $94,430.  As a
result, as of March 31, 2012, the company had total cash of
$496,004.

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

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

                      About Cano Petroleum

Cano Petroleum, Inc. (NYSE Amex: CFW), an independent Texas-
based energy producer with properties in the mid-continent region
of the United States, filed for Chapter 11 bankruptcy (Bank. N.D.
Tex. Lead Case No. 12-31549) on March 7, 2012.  Other affiliates
also sought bankruptcy protection: Cano Petro of New Mexico,
Ladder Companies, Inc., Square One Energy, Inc., Tri-Flow, Inc.,
W.O. Energy of Nevada, Inc., W.O. Operating Company, Ltd., W.O.
Production Company, Ltd., and WO Energy, Inc.  The cases are
jointly administered.

The Debtors filed for bankruptcy to pursue a sale under a joint
plan of reorganization filed on the petition date.  Cano Petroleum
have entered into a Stalking Horse Stock Purchase Agreement with
NBI Services Inc., pursuant to which NBI would purchase all of the
shares of common stock that would be issued by Reorganized Cano
under the Plan for $47.5 million.  The deal is subject to higher
and better offers and a possible auction.

The petitions were filed by James R. Latimer, III, chief executive
officer.  Judge Barbara J. Houser oversees the case.  The Debtors
are represented by lawyers at Thompson & Knight LLP, in Dallas
Texas.

Cano Petroleum's consolidated balance sheet at Sept. 30, 2011,
showed $63.37 million in total assets, $116.25 million in total
liabilities, and a $52.88 million total stockholders' deficit.  In
schedules filed with the Court, Cano Petroleum disclosed
$1.16 million in assets and $82.5 million in liabilities.

Union Bank of California, the administrative agent and issuing
lender under the Debtors' prepetition senior credit facility; and
UnionBanCal Equities, Inc., the administrative agent and issuing
lender, under the junior credit facility, are represented by:
William A. "Trey" Wood III, Esq., at Bracewell & Giuliani LLP.


FIRSTFED FINANCIAL: Ends March With $2.31 Million in Cash
---------------------------------------------------------
FirstFed Financial Corp. on April 23, 2012, filed its monthly
operating report for the month ended March 31, 2012.

The company reported a net loss of $116,851 for the month ended
March 31, 2012.

As of March 31, 2012, the FirstFed Financial had total assets of
$2.49 million, total liabilities of $159.62 million and total
stockholders' deficit of $157.14 million.

At the beginning of March, the company had $2.42 million in cash.
FirstFed Financial had total cash receipts of $70 and total cash
disbursements of $115,937.  As a result, as of March 31, 2012, the
company had total cash of $2.31 million.

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

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

                     About FirstFed Financial

Irvine, Calif.-based FirstFed Financial Corp. is the bank
holding company for First Federal Bank of California and its
subsidiaries.  The Bank was closed by federal regulators on
Dec. 18, 2009.

FirstFed Financial Corp. filed for Chapter 11 protection (Bankr.
C.D. Calif. Case No. 10-10150) on Jan. 6, 2010.  Jon L. Dalberg,
Esq., at Landau Gottfried & Berger LLP, represents the Debtor in
its restructuring effort.  Garden City Group is the claims and
notice agent.  The Debtor disclosed assets at $1 million and
$10 million, and debts at $100 million and $500 million.

The Debtor's exclusive period to propose a plan expired in January
2011.

The Debtor has proposed a Plan of Liquidation, which proposes an
orderly liquidation of the Debtor's estate.

As previously reported by the TCR on Feb. 16, 2012, Holdco
Advisors L.P., submitted to the Bankruptcy Court a proposed Plan
of Reorganization and explanatory Disclosure Statement for
Firstfed Financial Corp.


PMI GROUP: Ends March 2012 With $164.06 Million in Cash
-------------------------------------------------------
PMI Group, Inc., on April 24, 2012, filed its monthly operating
report with the Bankruptcy Court for the month ended March 31,
2012.

The Debtor posted a net income of $3.29 million for the month
ended March 31, 2012, primarily due to equity earning of
$4.62 million for the month ended March 31, 2012.

As of March 31, 2012, the Debtor had total assets of
$233.52 million, total liabilities of $767.97 million and total
stockholders' deficit of $534.45 million.

At the beginning of March, PMI Group had $164.35 million in cash.
The Debtor had total cash receipts of $450,015 and total cash
disbursements of $741,913.  As a result, as of March 31, 2012, PMI
Group had total cash of $164.06 million.

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

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

                     About The 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.


SHARPER IMAGE: Ends March 2012 With $1.33 Million in Cash
---------------------------------------------------------
TSIC, Inc., formerly known as Sharper Image Corp., on April 20,
2012, filed its monthly operating report with the Bankruptcy Court
for the month ended March 31, 2012.

The Debtor reported a net loss of $665,392 for the month
ended March 31, 2012.

As of March 31, 2012, the Debtor had total assets of $2.18
million, total liabilities of $(95.48) million and total equity of
$93.30 million.

At the beginning of March, TSIC had $1.98 million in cash.  The
Debtor had total cash receipts of $266 and total cash
disbursements of $643,366.  As a result, as of March 31, 2012,
TSIC had total cash of $1.33 million.

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

             http://bankrupt.com/misc/sharper_mar.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 $611,000 Net Loss in March 2012
------------------------------------------------------
BankruptcyData.com reports that ShengdaTech Inc. filed with the
U.S. Bankruptcy Court a monthly operating report for March 2012.
For the period, the Company reported a net loss of $611,000 on
zero revenue.

                          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.


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Monday's edition of the TCR delivers a list of indicative prices
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then-ending.

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                           *********

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
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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.

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