TCR_Public/120705.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Thursday, July 5, 2012, Vol. 16, No. 185

                            Headlines

3POWER ENERGY: Delays Fiscal 2012 Annual Report
4KIDS ENTERTAINMENT: Five Directors Elected at Annual Meeting
ABA FIRE EQUIPMENT: Can't Surcharge JPMorgan Collateral
ABOUND SOLAR: Files for Chapter 7 Bankruptcy
ADMIRAL DRYWALL: Case Summary & 20 Largest Unsecured Creditors

AMERICAN AIRLINES: Court Approves HP Enterprise Settlement
AMERICAN AIRLINES: Court Approves More E&Y Work
AMERICAN AIRLINES: BNY Mellon Seeks Adequate Protection
AMERICAN AIRLINES: HTL Operating Wants Ruling on Contract
AMERICAN AIRLINES: Resolves Flight 311 Plaintiffs' Claims

AMERICAN BABY: Maclaren to Cover Claims Against Firm
AMERICAN DIAGNOSTIC: Plan Hearing Set for July 10
AMERICAN ENERGY: Swings to Profit in March 31 Quarter
AMESTEIN FRISCO: Case Summary & 10 Largest Unsecured Creditors
AMKOR TEC: Upsized Bank Facilities No Impact on Moody's 'Ba3' CFR

AMWEST IMAGING: Peter Messineo Raises Going Concern Doubt
APPLETON PAPERS: S-4 Registration Statement Declared Effective
AVISTAR COMMUNICATIONS: Amends Note Agreement with JP Morgan
AZTLAN COLD: Voluntary Chapter 11 Case Summary
BASIC ENERGY: S&P Raises Senior Unsecured Notes Rating to 'B+'

BECHARA HONEIN: 9th Cir. BAP Affirms Ruling in Partnership Dispute
BEHRINGER HARVARD: Transfers Condominium Unit to Credit Union
BETSEY JOHNSON: Settles Debt With Creditor Steve Madden
BIOPACK ENVIRONMENTAL: Has Exclusive License to Beaute de Maman
BIOZONE PHARMACEUTICALS: Amends 8.3MM Shares Resale Prospectus

BURCAM CAPITAL: Files for Bankruptcy to Renegotiate Loan Terms
CDM JOINT VENTURES: Voluntary Chapter 11 Case Summary
CHINA NETWORKS: UHY Vocation Raises Going Concern Doubt
CHISEN ELECTRIC: Mazars CPA Raises Going Concern Doubt
CHRIST HOSPITAL: Judge Approves $45.3MM Sale of Hospital

CIRCLE STAR: Faces Cottonwood Fraud Complaint in Oklahoma
CLEANTECH INNOVATIONS: Posts $2.58 Million Net Loss in Q1 2012
CLIFFS CLUB: Wins Permission to Start Polling Creditors on Plan
COMMERCIAL MANAGEMENT: Can Access Cash Collateral Through Sept. 30
COMMERCIAL MANAGEMENT: Files Schedules of Assets and Liabilities

COMMUNITY FINANCIAL: BKD LLP Raises Going Concern Doubt
CROSSOVER FINANCIAL I: DeCelles Creditors Lose Case Dismissal Bid
CYBERDEFENDER CORP: Exclusive Filing Period Extended to Sept. 20
CYBERDEFENDER CORP: Court Sets Aug. 21 as Claims Bar Date
DESERT CAPITAL: Klayman Files Claim vs. Calton for Losses

DELTA PETROLEUM: Files Amended Chapter 11 Reorganization Plan
DESERT GARDENS: Plan to Pay U.S. Bank Debt for 30 Years
DEWEY & LEBOEUF: Trustee Objects to Some Advisers Hiring
DIALOGIC INC: Fails to Comply with NASDAQ's Market Value Rule
DYNEGY HOLDINGS: U.S. Trustee Objects to Merger

EAST COAST DIVERSIFIED: Posts $754,600 Net Loss in Q1 2012
EASTMAN KODAK: Retiree Committee Wants to Remove Cap on Fees
EASTMAN KODAK: Shares Documents to Secured Debt Holders
EASTMAN KODAK: Unsecured Noteholders Want Financials Made Public
EASTMAN KODAK: Retiree Panel Proposes Zolfo as Fin'l Adviser

EMPRESAS MARTINEZ: Puerto Rico Court Rules on Chevron Funds
EMPRESAS PLAYA: Case Summary & 9 Largest Unsecured Creditors
EVA ROMERO: Owner of Humphrey's on the Delta Files for Bankruptcy
EXECUTIVE CENTER: Has Deal With Platinum Courtyard on Cash Use
FLETCHER INT'L: Sues Bermuda Liquidators in Bankruptcy Court

FUELSTREAM INC: Posts $95,900 Net Loss in Q1 2012
FULLER BRUSH: Files Schedules of Assets and Liabilities
GERALD ROBERTSON: Case Summary & 20 Largest Unsecured Creditors
GLOBAL GREEN: K.R. Margetson Raises Going Concern Doubt
GOOD SAM: Commences Offer to Buy $4.9-Mil. 11.50% Senior Notes

GRUBB & ELLIS: Reaches Deal With Workers on 9/11 Lawsuits
HAMPTON ROADS: CapGen Capital Owns 19.2% of Shares as of May 21
HAMPTON ROADS: Carlyle Group Has 22.7% Stake as of May 21
HAWKER BEECHCRAFT: Files Amended Chapter 11 Plan
HD SUPPLY: Completes Acquisition of Peachtree Business

HEALTHWAREHOUSE.COM INC: Marcum LLP Raises Going Concern Doubt
HEARTHSTONE HOMES: Committee Fails to Block Wells Fargo Loan
HILCORP ENERGY: Moody's Raises Corporate Family Rating to 'Ba2'
HUDSON TREE: Case Dismissed After Approval of Bank7 Financing
IDO SECURITY: DTC Lifts "Deposit Chill" on Common Stock

INDY HOTEL: Case Summary & 14 Largest Unsecured Creditors
INTEGRATED FREIGHT: Delays Form 10-K for Fiscal 2012
INTERLEUKIN GENETICS: Enters Into Exchange Agreement with Pyxis
JEFFERSON COUNTY: Judge Rules for Bondholders in Sewer Fight
KM ASSOCIATES: Will File Amended Disclosure Statement on July 31

KV PHARMACEUTICAL: Fails to Comply with NYSE's $1 Bid Price Rule
LENCO MOBILE: Peterson Sullivan Raises Going Concern Doubt
LIQUIDMETAL TECHNOLOGIES: 5 Directors Elected at Annual Meeting
LIQUIDMETAL TECHNOLOGIES: Completes $12-Mil. Private Placement
LLS AMERICA: U.S. Laws Apply to Case Trustee's Lawsuits

LOGIC DEVICES: Posts $456,800 Net Loss in March 31 Quarter
LON MORRIS COLLEGE: Files for Chapter 11 in Tyler, TX
MAMMOTH LAKES: Files for Chapter 9 Bankruptcy
MARIAH MOORE: Case Summary & 3 Largest Unsecured Creditors
MOUNTAIN PROVINCE: Tuzo Kimberlite Volume Increased by 78.5%

MEDIA GENERAL: Messrs. Conschafter and Cottingham Elected VPs
MSR RESORT: Hilton Expert Says Nixing MSR Deals Would Harm It
MUSCLEPHARM CORP: Amends 2011 Reports Due to Accounting Errors
NEBRASKA BOOK: Emerges From Chapter 11 Bankruptcy Protection
NEBRASKA BOOK: Neebo Issues $100 Million Senior Secured Notes

NEBRASKA BOOK: Suspending Filing of Reports with SEC
NET ELEMENT: Unit Borrows US$4.5 Million from Green Venture
NEWPAGE CORP: Rebuffs Verso Paper's Overtures in Bankruptcy Deal
NORAM RESOURCES: D&O Negligence Claims Belong to Bankruptcy Estate
NORTH LAS VEGAS: Declares Emergency to Cut Labor Costs

NORTHSTAR AEROSPACE: Court Approves Asset Sale to Heligear
NORTHWEST ATLANTA: Case Summary & 10 Largest Unsecured Creditors
NPS PHARMACEUTICALS: Inks 5th Amendment to Amgen License Pact
OCEANSIDE YACHT CLUB: Files for Chapter 11 in Wilson
PANAM INVESTMENT: Case Summary & 5 Largest Unsecured Creditors

PATIENT SAFETY: Files Form S-1, Registers 2.5MM Common Shares
PEACHTREE INDUSTRIAL: Case Summary & 5 Largest Unsecured Creditors
PENN CAMERA: Deadline to Challenge Cannon, Nikon Claims Extended
PROELITE INC: Jerry Rubinstein Named Board Chairman and CEO
PUBLIC BROADCASTING: Moody's Withdraws 'Ba1' Bond Rating

RADIENT PHARMACEUTICALS: Operations Minimal, Warns Bankruptcy
RESIDENTIAL CAPITAL: Proposes FTI as Financial Advisor
RESIDENTIAL CAPITAL: Hiring Centerview as Investment Banker
RESIDENTIAL CAPITAL: Seeks to Employ Morrison as Legal Counsel
RESIDENTIAL CAPITAL: Taps Mallet-Prevost as Conflicts Counsel

RG STEEL: Objects to Enviros' Exemption Claim to Ch. 11 Stay
RITZ CAMERA: Proposes GOB Sales at 59 Stores
RIVER POINT: Case Summary & 20 Largest Unsecured Creditors
ROYAL SEATING: School & Library Furniture Maker in Chapter 11
SEP RIVERPARK: Equity Holder Proposes Competing Plan

SHENGDATECH INC: Files Amended Chapter 11 Plan
SKINNY NUTRITIONAL: Enters Into $15 Million Financing with Trim
SPRING HILL: Case Summary & 5 Largest Unsecured Creditors
STEREOTAXIS INC: Files Form S-1; Registers 28.1MM Common Shares
STOCKTON, CA: Attorneys Say City Deserves Bankruptcy Protection

STRATEGIC CAPITAL: Judge Dismisses $2MM Fraudulent Transfer Suit
TC GLOBAL: Delays Fiscal 2012 Annual Report
TPF GENERATION: S&P Affirms 'B' Rating on $495MM 2nd Lien Loan
TRANS-LUX CORP: Stockholders Elected Salvatore Zizza as Director
VALENCE TECHNOLOGY: Incurs $12.7 Million Net Loss in Fiscal 2012

VENUS HOSPITALITY: Case Summary & 9 Largest Unsecured Creditors
VHGI HOLDINGS: Inks 3rd Amendment to Platinum Note Purchase Pact
WA ROUTE 9: PAF Capital LLC Sues for Fraud
WASHINGTON MUTUAL: Shareholder Objects to Weil Gotshal's Fees

WESTMORELAND COAL: Has $20MM Revolving Facility with PrivateBank
WESTMORELAND COAL: Six Directors Elected at Annual Meeting
W.R. GRACE: Garlock Takes Plan Appeal to Third Circuit
W.R. GRACE: W.D. Pa. Court Defers to Delaware District Court

WRENA LLC: Case Summary & 20 Largest Unsecured Creditors
XIANBURG DATA: Receives TSX Delisting Notice
ZALE CORP: Incurs $4.5 Million Net Loss in March 31 Quarter

* Moody's Says REIT Ruling Neg. for Skilled Nursing Facilities
* Feds Release 'Living Will' Outlines for 9 Big Banks

* Bernstein Law Firm Changes Name to Bernstein-Burkley
* Jeremy R. Bloor Joins McDonald Hopkins' West Palm Beach Office
* Meyers Nave's Michael Sweet Joins Fox Rothschild
* Patton Boggs' Michael Richman Moves to Hunton & Williams

* Recent Small-Dollar & Individual Chapter 11 Filings

                            *********

3POWER ENERGY: Delays Fiscal 2012 Annual Report
-----------------------------------------------
3Power Energy Group, Inc., was unable, without unreasonable effort
or expense, to file its annual report on Form 10-K for the year
ended March 31, 2012, by the June 29, 2012, filing date applicable
to smaller reporting companies due to a delay experienced by the
Company in completing its financial statements and other
disclosures in the annual report.  As a result, the Company is
still in the process of compiling required information to complete
the annual report and its independent registered public accounting
firm requires additional time to complete its review of the
financial statements for the year ended March 31, 2012, to be
incorporated in the annual report.  The Company anticipates that
it will file the annual report no later than the fifteenth
calendar day following the prescribed filing date.

                       About 3Power Energy

3Power Energy Group Inc. was incorporated in Nevada in December
2002.  On March 30, 2011, the Company changed its name from Prime
Sun Power Inc. to 3Power Energy and increased its authorized share
capital to 300,000,000 shares.  The Company plans to pursue a
business model producing renewable generated electrical power and
other alternative energies.

On May 13, 2011, the Company acquired 100% of the issued and
outstanding common stock of Seawind Energy Limited, in exchange
for the issuance of 40,000,000 restricted shares of the Company's
common stock.  The acquisition was accounted for as a reverse
merger and, accordingly, the Company is the legal survivor and
Seawind Energy is the accounting survivor.

The Company's balance sheet at Dec. 31, 2011, showed $4.35 million
in total assets, $3.35 million in total liabilities, all current,
and $1 million in stockholders' equity.

"The Company has incurred operating losses in the last two years,
and that the Company is dependent upon the management's ability to
develop profitable operations.  These factors among others may
raise substantial doubt about the Company's ability to continue as
a going concern which may make it more difficult to obtain future
financing," the Company said in the Form 10-Q for the three months
ended Dec. 31, 2011.


4KIDS ENTERTAINMENT: Five Directors Elected at Annual Meeting
-------------------------------------------------------------
4Kids Entertainment, Inc., held its 2012 annual meeting of
stockholders on May 21, 2012.  All five of the Company's nominees
for director were elected to the board of directors, namely: (1)
Duminda M. DeSilva, (2) Jay Emmett, (3) Michael Goldstein, (4)
Wade I. Massad, and (5) Samuel R. Newborn.  The appointment of
EisnerAmper LLP as the Company's independent auditor to audit the
Company's financial statements for the fiscal year ending Dec. 31,
2012, was ratified.

                     About 4Kids Entertainment

New York-based 4Kids Entertainment, Inc., dba 4Kids, is an
entertainment and media company specializing in the youth oriented
market, with operations in these business segments: (i) licensing,
(ii) advertising and media broadcast, and (iii) television and
film production/distribution.  The parent entity, 4Kids
Entertainment, was organized as a New York corporation in 1970.

4Kids filed for bankruptcy protection under Chapter 11 of the
Bankruptcy Code to protect its most valuable asset -- its rights
under an exclusive license relating to the popular Yu-Gi-Oh!
series of animated television programs -- from efforts by the
licensor, a consortium of Japanese companies, to terminate
the license and force 4Kids out of business.

4Kids and affiliates filed Chapter 11 petitions (Bankr. S.D.N.Y.
Lead Case No. 11-11607) on April 6, 2011.  Kaye Scholer LLP is the
Debtors' restructuring counsel.  Epiq Bankruptcy Solutions, LLC,
is the Debtors' claims and notice agent.  BDO Capital Advisors,
LLC, is the financial advisor and investment banker.  EisnerAmper
LLP fka Eisner LLP serves as auditor and tax advisor.  4Kids
Entertainment disclosed $78,397,971 in assets and $86,515,395 in
liabilities as of the Chapter 11 filing.

Hahn & Hessen LLP serves as counsel to the Official Committee of
Unsecured Creditors.  Epiq Bankruptcy Solutions LLC serves as its
information agent for the Committee.

The Consortium consists of TV Tokyo Corporation, which owns and
operates a television station in Japan; ASATSU-DK Inc., a Japanese
advertising company; and Nihon Ad Systems, ADK's wholly owned
subsidiary.  The Consortium is represented by Kyle C. Bisceglie,
Esq., Michael S. Fox, Esq., Ellen V. Holloman, Esq., and Mason
Barney, Esq., at Olshan Grundman Frome Rosenzweig & Wolosky LLP,
in New York.

In January 2012, the bankruptcy judge ruled in favor of 4Kids,
deciding that the Yu-Gi-Oh! property license agreement between the
Debtor and the licensor was not effectively terminated prior to
the bankruptcy filing.  Following the ruling, 4Kids entered into a
settlement where it would receive $8 million to end the dispute
over its valuable Yu-Gi-Oh! Property.


ABA FIRE EQUIPMENT: Can't Surcharge JPMorgan Collateral
-------------------------------------------------------
Bankruptcy Judge A. Jay Cristol denied the request of A.B.A. Fire
Equipment Inc. and A-1 Fire Equipment Corp. to surcharge the
collateral of JP Morgan Chase Bank, N.A., saying the Debtors have
failed to carry their burden of proving any specific or
quantifiable benefit to Chase.

The Court previously approved the sale of substantially all of the
Debtors' assets on Jan. 31, 2012.  In their request, the Debtors
seek to use a portion of the sales proceeds to pay:

     $54,116.07 for January Payroll tax,
      $4,864.47 in January Workman's Comp,
    $144,406.00 in accrued payroll,
     $38,691.95 in Accrued payroll taxes,
     $21,441.13 in January sales tax,
     $53,099.00 in Misc Vendor payments,
      $7,500.00 for January SUTA, and
     $84,068.36 in unpaid attorneys' fees and costs (the Court has
                awarded $198,731.36 and $114,663.00 has been paid
                from the Debtors' bank accounts),
    -----------
    $408,186.98 total

The sales price for substantially all of the Debtors' assets was
$830,000, with Chase agreeing to a 10% carve-out for general
unsecured creditors, so the sales proceeds in dispute are
$747,000.  Chase was owed on the Debtors' obligations against the
collateral the total $1,375,747.

The Debtors maintain they are entitled to surcharge Chase's
collateral for the $408,186.98 because the Debtors' operating
postpetition permitted the sale of substantially all of the assets
as a going concern which resulted in a higher sale price.  The
Debtors also maintain that Chase would not have received more than
10%, or approximately $150,000, from the sale of the Debtors'
receivables and other assets absent the bankruptcy.

In its response, Chase argues the sales price was based almost
exclusively on receivables and that those receivables did not
arise postpetition, and that the Debtors' sale of substantially
all of the assets was on substantially the same terms and
conditions that was available before the bankruptcy.  Thus, Chase
contends that the sums sought by the Debtors for a surcharge were
not reasonable or necessary.  Chase also contends that the sale
and its price were driven by the Debtors' principals seeking to
maintain employment with the purchaser, and not to maintain the
value of the collateral and that Chase was responsible for
negotiating the final sales price.

The Debtors noted in their request that "the stalking horse bid
presented in the Sales Procedures Motion was essentially the same
bid, on substantially the same terms and conditions, as had been
presented to and discussed with Chase as far back as August of
2011 (in discussions leading up to the filing of these Chapter 11
Cases).  Chase agreed, even at that time, that the proposed
chapter 11 filing and 363 sale was in the best interests of all
parties and expressly gave its support to the filing and the
proposed sale transaction."

The Court noted that the sale was almost all inventory and
receivables -- allocating $755,886.35 to accounts receivable,
$99,450.40 in inventory, and only $50,000.00 collectively to
"fixed assets, intellectual property, and goodwill.  The primary
concern in the sale was providing jobs, not protecting Chase's
collateral.  The Court also noted the Debtors' receivables
prepetition in September 2011 were $1,256,701.54 and at the time
of its sale in February 2012 were $1,287,158.81.

According the Court, the elements necessary to support a surcharge
are not present in the case.  Chase did not expressly or
implicitly consent to a surcharge.  The sale was mainly to secure
jobs, not to safeguard Chase's collateral or to maximize its sales
price.  The value of Chase's collateral was not increased due to
the bankruptcy as the receivables, the primary asset purchased,
did not increase significantly, if at all, after the Debtor's
bankruptcy filing.  The judge said that, while Chase may have
benefited from the sale of the receivables as a going-concern, the
Debtors have been unable to quantify that benefit; and, Chase has
already agreed to substantial carve-outs for general unsecured
creditors and took other concessions to effectuate the sale.  In
addition, the Court has, by separate order, approved payment of
certain attorneys' fees from the sale proceeds based on prior
Court orders.  The Court said the sums sought by the Debtors were
accordingly not necessary or reasonable.

A copy of the Court's June 29, 2012 Order is available at
http://is.gd/Oz1qYNfrom Leagle.com.

Miami, Florida-based A.B.A. Fire Equipment Inc. and A-1 Fire
Equipment Corp. filed for Chapter 11 bankruptcy protection (Bankr.
S.D. Fla. Case Nos. 11-35796 and 11-35798) on Sept. 19, 2011.
Judge A. Jay Cristol presides over the case.  Peter D. Russin,
Esq., at Meland Russin & Budwick, P.A., serves as the Debtors'
counsel.  In its petition, ABA Fire Equipment estimated $1 million
to $10 million in both assets and debts.  A-1 Fire Equipment
estimated under $1 million in both assets and debts.  The petition
was signed by Earl Speigel, president.


ABOUND SOLAR: Files for Chapter 7 Bankruptcy
--------------------------------------------
Abound Solar Inc., a recipient of a federal loan guarantee from
the U.S. Department of Energy, filed for Chapter 7 bankruptcy
liquidation (Bankr. D. Del. Case No. 12-11972.) on July 2.

Jamie Santo at Bankruptcy Law360 reports that Abound Solar joins
fellow panel makers Solyndra LLC and Evergreen Solar Inc. in the
Delaware bankruptcy court, those firms having sought Chapter 11
protection in September and August, respectively.

Abound Solar was awarded a $400 million loan guarantee from the
U.S. Department of Energy in July 2010 to build a facility in
Indiana and expand its Longmont facility.

Abound made the last draw on the loan in August 2011,
around the time Solyndra halted manufacturing.  Solyndra shut
down after receiving a $535 million loan guarantee from the same
U.S. Energy Department program.  Solyndra filed for Chapter 11
bankruptcy protection (Bankr. D. Del. Lead Case No. 11-12799) on
Sept. 6, 2011 and is currently liquidating its assets.

According to Reuters, the DOE has been criticized by Republicans
for a loan guarantee of more than $500 million to solar module
maker Solyndra, which went bankrupt last year amid allegations the
White House had pushed for the loans for political reasons.

Department of Energy spokesman Damien Lavera told the Denver Post
that Abound Solar's liquidation would cost taxpayers between $40
million and $60 million after the liquidation because the company
had used $70 million of the loan guarantee.

Abound halted production in February from one plant in Colorado.

The 125 remaining employees will lose their jobs when the company
files for bankruptcy.

Erica Teichert at Bankruptcy Law360 reports that GOP lawmakers on
Monday requested that the CEO of Abound Solar testify about the
company's DOE loan guarantee.  The Subcommittee on Regulatory
Affairs, Stimulus Oversight and Government Spending hearing,
scheduled for July 18, will exclusively focus on Abound and its
DOE loan guarantee.


ADMIRAL DRYWALL: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Admiral Drywall, Ltd.
        36 Linnell Circle
        Billerica, MA 01821

Bankruptcy Case No.: 12-42476

Chapter 11 Petition Date: July 2, 2012

Court: United States Bankruptcy Court
       District of Massachusetts (Worcester)

Judge: Melvin S. Hoffman

Debtor's Counsel: Michael S. Kalis, Esq.
                  632 High Street
                  Dedham, MA 02026
                  Tel: (781) 461-0030
                  Fax: (781) 461-4563
                  E-mail: mikalislaw@verizon.net

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

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

A copy of the Company's list of its 20 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/mab12-42476.pdf

The petition was signed by Nancy M. DiMartino, president.


AMERICAN AIRLINES: Court Approves HP Enterprise Settlement
----------------------------------------------------------
AMR Corp. and its affiliates sought and obtained the Bankruptcy
Court's permission to enter into a settlement agreement with HP
Enterprise Services, LLC.

In 2008, the Debtors and HP are parties to a Fifth Amended and
Restated Information Technology Services Agreement, whereby HP
provides the Debtors with critical passenger processing services,
including availability, reservations, ticketing, and airport
processing and the software for such services is provided and
maintained by certain affiliates of Sabre Inc.  In 2010, the
Debtors and HP entered into a prepetition Realtime Passenger
Services System Agreement, to develop and migrate to a new
Passenger Service System, including the software and hardware
components.

The Parties have worked together to develop the new Passenger
Service System under the PSS Agreement.  The Parties have been
unable to reach agreement on several key issues affecting the
project's direction and it became clear that an orderly
termination of the PSS Agreement was in the best interests of
both Parties.

Accordingly, the Parties have entered into an agreement providing
for the termination of the PSS Agreement.  Under the agreement,
HP will have an allowed prepetition unsecured claim against
American Airlines, Inc., in the amount of $7,651,728 for goods
and services provided before the Petition Date, under the PSS
Agreement.

In conjunction with the Termination Agreement, the Parties
separately negotiated an amendment no. "54" to 5ITSA to move
certain PSS-related work back to 5ITSA to assure that the
Debtors' Passenger Service System will continue to run smoothly.
Amendment No. 54 further reduces certain costs and expenses
relating to the operation of the existing Passenger Service
System.

A full-text copy of the Termination Agreement, together with
Amendment No. 545, is available for free at:

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

The Settlement comprehensively resolves an extremely complex
relationship with respect to the building of a critical operating
system and provides the Debtors with the necessary flexibility to
pursue other alternatives while assuring the ongoing uninterrupted
functioning of their existing Passenger Service System, says
Stephen Karotkin, Esq., at Weil, Gotshal & Manges LLP, in New
York.

                      About American Airlines

AMR Corp. and its subsidiaries including American Airlines, the
third largest airline in the United States, filed for bankruptcy
protection (Bankr. S.D.N.Y. Lead Case No. 11-15463) in Manhattan
on Nov. 29, 2011, after failing to secure cost-cutting labor
agreements.

AMR, previously the world's largest airline prior to mergers by
other airlines, is the last of the so-called U.S. legacy airlines
to seek court protection from creditors.

American Airlines, American Eagle and the AmericanConnection
carrier serve 260 airports in more than 50 countries and
territories with, on average, more than 3,300 daily flights.  The
combined network fleet numbers more than 900 aircraft.

The Company reported a net loss of $884 million on $18.02 billion
of total operating revenues for the nine months ended Sept. 30,
2011.  AMR recorded a net loss of $471 million in the year 2010, a
net loss of $1.5 billion in 2009, and a net loss of $2.1 billion
in 2008.

AMR's balance sheet at Sept. 30, 2011, showed $24.72 billion
in total assets, $29.55 billion in total liabilities, and a
$4.83 billion stockholders' deficit.

Weil, Gotshal & Manges LLP serves as bankruptcy counsel to the
Debtors.  Paul Hastings LLP and Debevoise & Plimpton LLP Groom Law
Group, Chartered, are on board as special counsel.  Rothschild
Inc., is the financial advisor.   Garden City Group Inc. is the
claims and notice agent.

Jack Butler, Esq., John Lyons, Esq., Felecia Perlman, Esq., and
Jay Goffman, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP
serve as counsel to the Official Committee of Unsecured Creditors
in AMR's chapter 11 proceedings.  Togut, Segal & Segal LLP is the
co-counsel for conflicts and other matters; Moelis & Company LLC
is the investment banker, and Mesirow Financial Consulting, LLC,
is the financial advisor.

Bankruptcy Creditors' Service, Inc., publishes AMERICAN AIRLINES
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by AMR Corp. and its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000).


AMERICAN AIRLINES: Court Approves More E&Y Work
-----------------------------------------------
AMR Corp. and its affiliates won approval of a supplemental
application to employ Ernst & Young LLP as their auditor and tax
services provider, nunc pro tunc to May 7, 2012.

The Debtors have determined that it is necessary to expand the
scope of Ernst & Young's employment to perform additional
auditing services, including:

  (a) Reporting on the balance sheet as of December 31, 2011 and
      the related consolidated statements of operations,
      stockholder's equity and cash flows for the year ended
      December 31, 2011 of Executive Ground Services, Inc.; and

  (b) Auditing the special purpose statement of the net revenue
      amount for American Airlines, Inc. for the period ended
      December 31, 2011, in accordance with the Alliance
      Standard Accounting Principles as set forth in the Revenue
      Sharing Agreement between American Airlines, Inc. and
      Japan Airlines.

The Debtors will compensate EY LLP for the Additional Services:

(A) Fixed Fee for Executive Ground Statutory Audit Services --
    The Debtors have agreed to pay Ernst & Young a fixed fee
    equal to $30,000 for services rendered in connection with
    the Executive Ground Statutory Audit Services.

(B) Hourly Fees for JAL Special Purpose Statement Services -- EY
    LLP intends to charge the Debtors for the JAL Special
    Purpose Statement Services based on its agreed hourly rates
    for such services, which range from $175 for Staff to $520
    per hour for Partners depending on the particular services
    being provided.

Ernst & Young will also seek reimbursement for expenses incurred.

James Bradow, a partner at Ernst & Young LLP, discloses that his
firm is currently a party or participant in certain litigation
matters involving parties-in-interest in these Chapter 11 cases.
He further discloses that certain parties-in-interest are lenders
to Ernst & Young, including Barclays Bank; Citibank, NA; Fifth
Third Bank; JP Morgan Chase Bank, NA; Lloyds TSB Bank PLC; PNC
Bank NA; Wells Fargo; and the Royal Bank of Scotland PLC.  The
firm has also borrowed long term debt from Metropolitan Life
Insurance Company and Westchester Fire Insurance Company.  Ernst
& Young continues to research connections to these two
connections: American Beacon and PG&E.

A copy of Ernst & Young's supplemental connections is available
for free at http://bankrupt.com/misc/AMR_E&YSuppClientDisc.pdf

Notwithstanding, Ernst & Young assures the Court that it is a
"disinterested person" as the term" is defined under Section
101(14) of the Bankruptcy Code.

                      About American Airlines

AMR Corp. and its subsidiaries including American Airlines, the
third largest airline in the United States, filed for bankruptcy
protection (Bankr. S.D.N.Y. Lead Case No. 11-15463) in Manhattan
on Nov. 29, 2011, after failing to secure cost-cutting labor
agreements.

AMR, previously the world's largest airline prior to mergers by
other airlines, is the last of the so-called U.S. legacy airlines
to seek court protection from creditors.

American Airlines, American Eagle and the AmericanConnection
carrier serve 260 airports in more than 50 countries and
territories with, on average, more than 3,300 daily flights.  The
combined network fleet numbers more than 900 aircraft.

The Company reported a net loss of $884 million on $18.02 billion
of total operating revenues for the nine months ended Sept. 30,
2011.  AMR recorded a net loss of $471 million in the year 2010, a
net loss of $1.5 billion in 2009, and a net loss of $2.1 billion
in 2008.

AMR's balance sheet at Sept. 30, 2011, showed $24.72 billion
in total assets, $29.55 billion in total liabilities, and a
$4.83 billion stockholders' deficit.

Weil, Gotshal & Manges LLP serves as bankruptcy counsel to the
Debtors.  Paul Hastings LLP and Debevoise & Plimpton LLP Groom Law
Group, Chartered, are on board as special counsel.  Rothschild
Inc., is the financial advisor.   Garden City Group Inc. is the
claims and notice agent.

Jack Butler, Esq., John Lyons, Esq., Felecia Perlman, Esq., and
Jay Goffman, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP
serve as counsel to the Official Committee of Unsecured Creditors
in AMR's chapter 11 proceedings.  Togut, Segal & Segal LLP is the
co-counsel for conflicts and other matters; Moelis & Company LLC
is the investment banker, and Mesirow Financial Consulting, LLC,
is the financial advisor.

Bankruptcy Creditors' Service, Inc., publishes AMERICAN AIRLINES
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by AMR Corp. and its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000).


AMERICAN AIRLINES: BNY Mellon Seeks Adequate Protection
-------------------------------------------------------
The Bank of New York Mellon Trust Company, N.A., as Indenture
Trustee for certain special airport revenue bonds, asks the
Bankruptcy Court to require the Debtors to provide adequate
protection of its interest in certain collateral that is
declining in value due to the Debtors' continued use and
consumption of that collateral.

BNY Mellon is indenture trustee for approximately $1.3 billion in
JFK Special Facility Revenue Bonds, $300 million in LAX
Facilities Sublease Revenue Bonds, and $450 million in Tulsa
Revenue Bonds.  These tax-exempt municipal Bonds were issued by
special financing entities of the cities of New York, Los
Angeles, and Tulsa, respectively, and the proceeds of the
issuances were provided to the Debtors to finance improvements
and the construction of certain terminal and maintenance
facilities occupied and used by American at the John F. Kennedy
International Airport, Los Angeles International Airport, and
Tulsa International Airport.

The principal collateral securing repayment of the Bonds consist
of the Indenture Trustee's interests in certain ground leases of
terminal and maintenance facilities at the Airports.

"With every day that passes in these cases, American is consuming
the Collateral Leases as the remaining terms of these ground
leases run.  As time passes, the value of the Indenture Trustee's
security interests decreases as well . . .," Amy Caton, Esq., at
Kramer Levin Naftalis & Frankel LLP, in New York, says.

Accordingly, rather than engage at this time in a full scale
valuation process to determine the precise amount of lost value,
the Indenture Trustee is seeking protection in the form of
additional liens and an allowed superpriority claim pursuant to
Section 507(b) of the Bankruptcy Code, Ms. Caton relays.

                      About American Airlines

AMR Corp. and its subsidiaries including American Airlines, the
third largest airline in the United States, filed for bankruptcy
protection (Bankr. S.D.N.Y. Lead Case No. 11-15463) in Manhattan
on Nov. 29, 2011, after failing to secure cost-cutting labor
agreements.

AMR, previously the world's largest airline prior to mergers by
other airlines, is the last of the so-called U.S. legacy airlines
to seek court protection from creditors.

American Airlines, American Eagle and the AmericanConnection
carrier serve 260 airports in more than 50 countries and
territories with, on average, more than 3,300 daily flights.  The
combined network fleet numbers more than 900 aircraft.

The Company reported a net loss of $884 million on $18.02 billion
of total operating revenues for the nine months ended Sept. 30,
2011.  AMR recorded a net loss of $471 million in the year 2010, a
net loss of $1.5 billion in 2009, and a net loss of $2.1 billion
in 2008.

AMR's balance sheet at Sept. 30, 2011, showed $24.72 billion
in total assets, $29.55 billion in total liabilities, and a
$4.83 billion stockholders' deficit.

Weil, Gotshal & Manges LLP serves as bankruptcy counsel to the
Debtors.  Paul Hastings LLP and Debevoise & Plimpton LLP Groom Law
Group, Chartered, are on board as special counsel.  Rothschild
Inc., is the financial advisor.   Garden City Group Inc. is the
claims and notice agent.

Jack Butler, Esq., John Lyons, Esq., Felecia Perlman, Esq., and
Jay Goffman, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP
serve as counsel to the Official Committee of Unsecured Creditors
in AMR's chapter 11 proceedings.  Togut, Segal & Segal LLP is the
co-counsel for conflicts and other matters; Moelis & Company LLC
is the investment banker, and Mesirow Financial Consulting, LLC,
is the financial advisor.

Bankruptcy Creditors' Service, Inc., publishes AMERICAN AIRLINES
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by AMR Corp. and its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000).


AMERICAN AIRLINES: HTL Operating Wants Ruling on Contract
---------------------------------------------------------
HTL Operating LLC, doing business as MCM Elegante Hotel, asks the
Court to determine whether its prepetition services agreement
with American Eagle is a "forward contract" and whether MCM is a
"forward contract merchant" pursuant to Section 101(25) and (26)
of the Bankruptcy Code.  The prepetition agreement requires the
hotel operator to provide hotel rooms for air crews at the rate
of $69 a night at.

A forward contract is defined in part as a contract "with
maturity date more than two days after the contract was entered
into."  HTL argues that it has the right to terminate the
contract because a forward contract can be terminated under an
exception to the automatic stay imposed in bankruptcy.  The
agreement, HTL further argues, is a contract for the purchase and
sale of a service, which is the subject of dealing in the forward
contract trade, with multiple dates, more than two days after the
date the agreement was entered into.

HTL says American Eagle is in default under the contract because
it has failed to pay outstanding and unpaid prepetition charges
amounting to $27,679.

                      About American Airlines

AMR Corp. and its subsidiaries including American Airlines, the
third largest airline in the United States, filed for bankruptcy
protection (Bankr. S.D.N.Y. Lead Case No. 11-15463) in Manhattan
on Nov. 29, 2011, after failing to secure cost-cutting labor
agreements.

AMR, previously the world's largest airline prior to mergers by
other airlines, is the last of the so-called U.S. legacy airlines
to seek court protection from creditors.

American Airlines, American Eagle and the AmericanConnection
carrier serve 260 airports in more than 50 countries and
territories with, on average, more than 3,300 daily flights.  The
combined network fleet numbers more than 900 aircraft.

The Company reported a net loss of $884 million on $18.02 billion
of total operating revenues for the nine months ended Sept. 30,
2011.  AMR recorded a net loss of $471 million in the year 2010, a
net loss of $1.5 billion in 2009, and a net loss of $2.1 billion
in 2008.

AMR's balance sheet at Sept. 30, 2011, showed $24.72 billion
in total assets, $29.55 billion in total liabilities, and a
$4.83 billion stockholders' deficit.

Weil, Gotshal & Manges LLP serves as bankruptcy counsel to the
Debtors.  Paul Hastings LLP and Debevoise & Plimpton LLP Groom Law
Group, Chartered, are on board as special counsel.  Rothschild
Inc., is the financial advisor.   Garden City Group Inc. is the
claims and notice agent.

Jack Butler, Esq., John Lyons, Esq., Felecia Perlman, Esq., and
Jay Goffman, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP
serve as counsel to the Official Committee of Unsecured Creditors
in AMR's chapter 11 proceedings.  Togut, Segal & Segal LLP is the
co-counsel for conflicts and other matters; Moelis & Company LLC
is the investment banker, and Mesirow Financial Consulting, LLC,
is the financial advisor.

Bankruptcy Creditors' Service, Inc., publishes AMERICAN AIRLINES
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by AMR Corp. and its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000).


AMERICAN AIRLINES: Resolves Flight 311 Plaintiffs' Claims
---------------------------------------------------------
American Airlines Inc. and its affiliates entered into a
stipulation with more than 80 claimants that are parties to the
proceeding captioned In re American Airlines Flight 331, Case No.
1:10-cv-20131 (JAL), currently pending before the U.S. District
Court for the Southern District of Florida.

A list of the Flight 331 Claimants is available at:

      http://bankrupt.com/misc/AMR_Flight331Plaintiffs.pdf

The Injury and Damage Claims that are subject of the Proceeding
are covered in full or in part by available and collectible
insurance coverage.

Under the Stipulation, the parties agree that the automatic stay
will be modified solely to allow the Claimants to prosecute their
Injury & Damage Claims solely to the extent of the available and
collectible coverage.  The Claimants also agree to release and
discharge the Debtors and their estates from all claims and
obligations that arise from the Injury & Damage Claims.

                      About American Airlines

AMR Corp. and its subsidiaries including American Airlines, the
third largest airline in the United States, filed for bankruptcy
protection (Bankr. S.D.N.Y. Lead Case No. 11-15463) in Manhattan
on Nov. 29, 2011, after failing to secure cost-cutting labor
agreements.

AMR, previously the world's largest airline prior to mergers by
other airlines, is the last of the so-called U.S. legacy airlines
to seek court protection from creditors.

American Airlines, American Eagle and the AmericanConnection
carrier serve 260 airports in more than 50 countries and
territories with, on average, more than 3,300 daily flights.  The
combined network fleet numbers more than 900 aircraft.

The Company reported a net loss of $884 million on $18.02 billion
of total operating revenues for the nine months ended Sept. 30,
2011.  AMR recorded a net loss of $471 million in the year 2010, a
net loss of $1.5 billion in 2009, and a net loss of $2.1 billion
in 2008.

AMR's balance sheet at Sept. 30, 2011, showed $24.72 billion
in total assets, $29.55 billion in total liabilities, and a
$4.83 billion stockholders' deficit.

Weil, Gotshal & Manges LLP serves as bankruptcy counsel to the
Debtors.  Paul Hastings LLP and Debevoise & Plimpton LLP Groom Law
Group, Chartered, are on board as special counsel.  Rothschild
Inc., is the financial advisor.   Garden City Group Inc. is the
claims and notice agent.

Jack Butler, Esq., John Lyons, Esq., Felecia Perlman, Esq., and
Jay Goffman, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP
serve as counsel to the Official Committee of Unsecured Creditors
in AMR's chapter 11 proceedings.  Togut, Segal & Segal LLP is the
co-counsel for conflicts and other matters; Moelis & Company LLC
is the investment banker, and Mesirow Financial Consulting, LLC,
is the financial advisor.

Bankruptcy Creditors' Service, Inc., publishes AMERICAN AIRLINES
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by AMR Corp. and its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000).


AMERICAN BABY: Maclaren to Cover Claims Against Firm
----------------------------------------------------
Carolina Bolado at Bankruptcy Law360 reports that Maclaren Ltd.
said Wednesday that it would honor product liability claims
pending against its former U.S. distributor American Baby Products
Inc., which is currently liquidating in Connecticut bankruptcy
court.

Bankruptcy Law360 says the claims stem from a November 2009
stroller recall over a side saddle hinge that caused numerous
fingertip injuries to children, including several amputations.
Maclaren says its strollers now feature a closed hinge mechanism
that eliminated any potential for trapping fingers.


AMERICAN DIAGNOSTIC: Plan Hearing Set for July 10
-------------------------------------------------
The Hon. Carol A. Doyle of the U.S. Bankruptcy Court for Northern
District of Illinois approved the Disclosure Statement in support
of the Plan of Reorganization filed by American Diagnostic
Medicine Inc.  A hearing to consider confirmation of the Plan will
start July 10, 2012, at 10:30 a.m. prevailing Central Time.  The
hearing may be continued from time to time by the Court or the
Plan Proponents without further notice other than adjournments
announced in open court.

The Plan contemplates the reorganization of the Debtor as a going
concern, the payment in full of several Classes of creditors on or
shortly after the Effective Date, and the partial payment of
allowed Claims in three Classes -- the Cardinal Health Secured
Claim, the Contingent PNC Rejection Claims, and Allowed General
Unsecured Claims -- over time from operations of Reorganized
Debtor.  Distributions to Contingent PNC Rejection Claims and
Allowed General Unsecured Claims will be made from a creditors'
trust.  This is accomplished, in significant part, as:

     1. Existing ownership interests in the Debtor will be
        canceled on the Effective Date and New Equity in the
        Reorganized Debtor will be issued to either: (i) Sam and
        Anand Kancherlapalli or (ii) if a Qualified Bid is
        received prior to the Qualified Bid Deadline, either (a)
        the person or entity submitting such Qualified Bid or (b)
        the high bidder at an Auction to be held for the New
        Equity. The minimum value of any Qualified Bid will be
        $300,000. If a Qualified Bid is received, any cash sale
        proceeds will be used to pay down the Cardinal Health
        Note.

     2. In either scenario, the person or entity who ends up
        becoming the Holder of the New Equity is required to
        pledge the New Equity to the ADM Creditor Trust as
        additional security for the Reorganized Debtors'
        obligations under the Unsecured Creditor Notes. The New
        Equity Holder cannot exercise voting rights associated
        with the New Equity, but subject to the terms of the Plan,
        generally receives the right to manage the Reorganized
        Debtor, receive certain payments for doing so, and to own
        the New Equity free of the pledge once the Unsecured
        Creditor Notes are paid in full.

     3. The Creditor Trust will be formed pursuant to the Creditor
        Trust Agreement and Plan to accept the Unsecured Creditor
        Notes and certain other assets.

     4. The Reorganized Debtor will issue three notes,
        one to Cardinal Health (for $3,000,000) and two to the ADM
        Creditor Trust for the benefit of Contingent PNC Rejection
        Claims and General Unsecured Claims (for $650,000 and
        $1,250,000, respectively). The Cardinal Health Note will
        be secured by a first-priority security interest in and
        lien on the Reorganized Debtors assets and the Unsecured
        Creditor Notes will be secured by a second-priority
        security interest in and lien on the same assets. An
        Intercreditor Agreement will govern certain of the rights
        of Cardinal Health and the ADM Creditor Trust under the
        Notes.

     5. The Reorganized Debtor will pay off the Notes over not
        more than a five-year period. Once the Unsecured Creditor
        Notes have been fully and finally paid off, the New Equity
        Holder's pledge of the New Equity to the ADM Creditor
        Trust will be of no further force and effect.

     6. The ADM Creditor Trust will receive payments on the
        Unsecured Creditor Notes also has the right to, among
        other things, pursue Avoidance Actions and, if applicable,
        Insider Causes of Action. The ADM Creditor Trust will also
        be involved in objecting to Contingent PNC Rejection
        Claims and General Unsecured Claims. Assuming sufficient
        proceeds are received, the ADM Creditor Trustee will from
        time to time make distributions to Allowed Contingent PNC
        Rejection Claims and General Unsecured Claims. The costs
        of administration of the ADM Creditor Trust will be paid
        from certain annual ADM Creditor Trust Payments or, if
        these are insufficient, other assets of the ADM Creditor
        Trust.

     7. Administrative Claims, Priority Tax Claims, Other Secured
        Claims, and Non-Tax Priority Claims are unimpaired and
        will be paid in full on or as soon as reasonably practical
        after the Effective Date or receive such other treatment
        as set forth in the Plan.

The ADM Creditor Trust will be administered by the ADM Creditor
Trustee.  The ADM Creditor Trustee will, among other things,
oversee the operations of the Reorganized Debtor, pursue Avoidance
Actions, receive payments due to the ADM Creditor Trust, and make
distributions to Holders of Allowed Class 4 Contingent PNC
Rejection Claims and Class 5 General Unsecured Claims, in
accordance with the Plan and ADM Creditor Trust Agreement.

The Plan will be financed through a combination of Available Cash,
Operating Revenues and/or Operating Profits from the Reorganized
Debtor's future business operations, and recoveries from Avoidance
Actions and Causes of Action.

A copy of the disclosure statement is available for free at:

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

                    About American Diagnostic

Batavia, Illinois-based American Diagnostic Medicine Inc. provides
imaging technologies to hospitals, clinics, cardiologists,
internal medicine groups and other health care providers
throughout the United States.  It filed for Chapter 11 bankruptcy
protection (Bankr. N.D. Ill. Case No. 11-03368) on Jan. 28, 2011.
Joshua D. Greene, Esq., and Michael J. Davis, Esq., at Springer,
Brown, Covey, Gaetner & Davis, serve as the Debtor's bankruptcy
counsel.  In its schedules, the Debtor disclosed $11.3 million in
total assets and $11.1 million in total debts.

The Official Committee of Unsecured Creditors hired K&L Gates LLP
as its counsel.


AMERICAN ENERGY: Swings to Profit in March 31 Quarter
-----------------------------------------------------
The American Energy Group, Ltd., filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q
disclosing net income of $2,991 on $242,028 of revenue for the
three months ended March 31, 2012, compared with a net loss of
$243,153 on $0 of revenue for the same period during the prior
year.

The Company reported a net loss of $111,807 on $545,230 of revenue
for the nine months ended March 31, 2012, compared with a net loss
of $667,419 on $0 of revenue for the same period a year ago.

The Company's balance sheet at March 31, 2012, showed $2.17
million in total assets, $205,097 in total liabilities and $1.96
million in total stockholders' equity.

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

                       http://is.gd/IMkkMe

                      About American Energy

AEG has been in the red for the past five years: It reported a net
loss of $991,784 for the year ended June 30, 2011; $942,792 in
2010; $893,196 in 2009; $932,853 in 2008; and $1,428,916 in 2007.

The Company restated its 2010 financial reports after management
discovered errors resulting in the understatement of previously
reported accrued expenses as of June 30, 2010.

Until its 2002 bankruptcy filing, AEG was an independent oil and
natural gas company engaged in the exploration, development,
acquisition and production of crude oil and natural gas properties
in the Texas gulf coast region of the United States and in the
Jacobabad area of the Republic of Pakistan.

AEG emerged from bankruptcy in January 2004 with two assets, a
non-producing 18% gross production royalty in the Yasin 2768-7
Block in Pakistan, and a non-producing working interest in an oil
and gas lease in Galveston County, Texas.  While the bankruptcy
proceedings were pending, AEG's producing oil and gas leases in
Fort Bend County, Texas were foreclosed by a secured lender.  Its
non-producing Galveston County, Texas oil and gas lease rights
were not affected by the foreclosure.

In November 2003, AEG sold the capital stock of its then existing
subsidiary, Hycarbex-American Energy, Inc., which held the
exploration license in Pakistan, to Hydro Tur (Energy) Ltd., a
company organized under the laws of the Republic of Turkey.  The
Company sold Hycarbex, which was the owner and operator of the
Yasin 2768-7 Petroleum Concession Block in the Republic of
Pakistan, to a foreign corporation, but retained an 18% overriding
royalty interest in future production.

Involuntary Chapter 7 bankruptcy proceedings (Bankr. S.D. Tex.
02-37125) were initiated against AEG on June 28, 2002, before
Judge Manuel D. Leal.  Leonard H. Simon, Esq., at Hughes Watters &
Askanase LLP, represented the petitioning creditors, who alleged
$49,981 in claims.  The case was converted to Chapter 11
proceedings in December 2002.

Pursuant to the Company's Second Amended Plan of Reorganization
which was approved by the Bankruptcy Court on Sept. 3, 2003, all
outstanding shares of common and preferred stock were cancelled
and the issuance of new shares of common stock to the bankruptcy
creditors was authorized by the Court.  AEG emerged from
bankruptcy in January 2004 with its two assets intact and with its
sole business being the maintenance and management of these
assets.

AEG had total assets of $1,927,318 and total liabilities of
$987,187 as of June 30, 2010.


AMESTEIN FRISCO: Case Summary & 10 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Amestein Frisco, LP
        4554 Harry's Lane
        Dallas, TX 75229

Bankruptcy Case No.: 12-34263

Chapter 11 Petition Date: July 2, 2012

Court: United States Bankruptcy Court
       Northern District of Texas (Dallas)

Judge: Harlin DeWayne Hale

Debtor's Counsel: Areya Holder, Esq.
                  LAW OFFICE OF AREYA HOLDER, P.C.
                  800 W. Airport Freeway, Suite 414
                  Irving, TX 75062
                  Tel: (972) 438-8800
                  Fax: (972) 438-8825
                  E-mail: areya@holderlawpc.com

Scheduled Assets: $1,968,235

Scheduled Liabilities: $3,123,338

A copy of the Company's list of its 10 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/txnb12-34263.pdf

The petition was signed by André van't Westeinde, owner.


AMKOR TEC: Upsized Bank Facilities No Impact on Moody's 'Ba3' CFR
-----------------------------------------------------------------
Moody's Investors Service said Amkor Technology, Inc.'s Ba3
Corporate Family Rating (CFR) and stable outlook are not impacted
by the announcement of amendments to its senior secured revolving
credit and closing of a new Korean credit facility, though the
revised facilities are a credit positive development.

Amkor, based in Chandler, Arizona, is one of the largest providers
of outsourced semiconductor assembly and test (OSAT) services for
integrated semiconductor device manufacturers (IDM) as well as
fabless semiconductor companies.


AMWEST IMAGING: Peter Messineo Raises Going Concern Doubt
---------------------------------------------------------
Amwest Imaging Incorporated filed on June 28, 2012, its annual
report on Form 10-K for the fiscal year ended Feb. 29, 2012.

Peter Messineo, CPA, in Palm Harbor, Florida, expressed
substantial doubt about Amwest Imaging's ability to continue as a
going concern.  Mr. Messineo noted that the Company has not
generated significant revenues from operations and is requiring
traditional financing or equity funding to commence its operating
plan.

The Company reported a net loss of $306,047 on $970 of sales for
the fiscal year ended Feb. 29, 2012, compared with a net loss of
$29,230 on $0 sales for the fiscal year ended Feb. 28, 2011.

The Company's balance sheet at Feb. 29, 2012, showed $1,249,562 in
total assets, $247,818 in total current liabilities, and
stockholders' equity of $1,001,744.

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

                       http://is.gd/UUBofa

Evansville, Indiana-based Amwest Imaging Incorporated is a
technology company whose primary business is providing
relationship-building tools and processes that help any business
cultivate profitable relationships with customers, all through web
based solutions.  The Company's current portfolio consists of
My Restaurant Web,(www.myrestaurantweb.com), Lok Drop
(www.LokDrop.com), Zip Clik (www.ZipClik.com).


APPLETON PAPERS: S-4 Registration Statement Declared Effective
--------------------------------------------------------------
Hicks Acquisition Company II, Inc., a special purpose acquisition
company sponsored and headed by Thomas O. Hicks, announced that
the Registration Statement on Form S-4 filed by HACII in
connection with its proposed business combination with Appleton
Papers Inc. (which will begin doing business as "Appvion" at
closing) was declared effective by the Securities and Exchange
Commission on June 29, 2012.  HACII's proxy statement, included as
part of the registration statement, is in the process of being
mailed to HACII's security holders as of the applicable record
dates.

HACII also announced a revised proposal to amend the terms of its
outstanding warrants in connection with the proposed business
combination with Appleton.  Under the revised warrant amendment
proposal, the number of shares of common stock of HACII issuable
upon exercise of HACII's outstanding warrants will be reduced by
half and, in addition, the holders of HACII's outstanding public
warrants will receive $0.625 per warrant at closing.  The terms of
the warrants will only be amended with the approval of
warrantholders who own at least 65 percent of the outstanding
public warrants.

HACII previously announced that a special meeting of its
stockholders to consider and vote on the proposed business
combination with Appleton and other related matters would be held
on July 11, 2012, at 10:00 a.m. Central Daylight Time.  HACII has
changed the date of this special meeting to July 12, 2012, at
10:00 a.m. Central Daylight Time.  HACII will also hold a special
meeting of its public warrantholders on July 12, 2012, at 9:00
a.m. Central Daylight Time to vote on the proposal to amend the
terms of HACII's outstanding warrants.  Each of these meetings
will be held at the offices of Akin Gump Strauss Hauer & Feld LLP,
1700 Pacific Avenue, 39th Floor, Dallas, Texas 75201.

In addition to the approval of HACII's stockholders, completion of
the business combination between HACII and Appleton is subject to
the expiration or early termination of any applicable Hart-Scott-
Rodino waiting period, approval by State Street Bank and Trust
Company, approval by the trustee representing participants in the
Appleton ESOP and certain other closing conditions.

                      About Appleton Papers

Appleton, Wisconsin-based Appleton Papers Inc. --
http://www.appletonideas.com/-- produces carbonless, thermal,
security and performance packaging products.  Appleton has
manufacturing operations in Wisconsin, Ohio, Pennsylvania, and
Massachusetts, employs approximately 2,200 people and is 100%
employee-owned.  Appleton Papers is a 100%-owned subsidiary of
Paperweight Development Corp.

The Company reported a net loss of $2.11 million for the year
ended Dec. 31, 2011, compared with a net loss of $31.66 million
for the year ended Jan. 1, 2011.

Appleton's balance sheet at April 1, 2012, showed $609.83 million
in total assts, $864.04 million in total liabilities, and a
$254.21 million deficit.

                          *     *     *

Appleton Papers carries a 'B' corporate credit rating, with stable
outlook, from Standard & Poor's.  IT has a 'B2/LD' probability of
default rating from Moody's.


AVISTAR COMMUNICATIONS: Amends Note Agreement with JP Morgan
------------------------------------------------------------
Avistar Communications Corporation, as borrower, entered into an
amendment to the third amended and restated revolving credit
promissory note agreement with JP Morgan Chase Bank, N.A., as
lender.  The third amended and restated revolving credit
promissory note agreement provided a maximum line of credit
facility amount of $8.0 million from Dec. 22, 2011, through and
including March 13, 2012, and then a reduced maximum line of
credit facility of $6.0 million from and after March 14, 2012,
through the maturity date on Dec. 22, 2012.

The primary purpose of the Amendment was to modify the maximum
line of credit facility amount for the entire period from May 21,
2012, through the maturity date to $7.0 million.  As of May 21,
2012, the total principal amount borrowed by Avistar under the
credit facility was $6.0 million.

                    About Avistar Communications

Headquartered in San Mateo, California, Avistar Communications
Corporation (Nasdaq: AVSR) -- http://www.avistar.com/-- holds a
portfolio of 80 patents for inventions in video and network
technology and licenses IP to videoconferencing, rich-media
services, public networking and related industries.  Current
licensees include Sony Corporation, Sony Computer Entertainment
Inc. (SCEI), Polycom Inc., Tandberg ASA, Radvision Ltd. and
Emblaze-VCON.

The Company reported a net loss of $6.43 million in 2011, compared
with net income of $4.45 million during the prior year.

The Company's balance sheet at March 31, 2012, showed
$3.25 million in total assets, $17.31 million in total liabilities
and a $14.05 million total stockholders' deficit.


AZTLAN COLD: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: Aztlan Cold Storage, Inc.
        3185 E Washington
        Los Angeles, CA 90023

Bankruptcy Case No.: 12-32932

Chapter 11 Petition Date: July 2, 2012

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

Judge: Barry Russell

Debtor's Counsel: David Yardley, Esq.
                  LAW OFFICE OF DAVID R YARDLEY
                  P.O. Box 66157
                  Los Angeles, CA 90066
                  Tel: (310) 924-5397

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

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

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

The petition was signed by Oscar J. Ramirez, president.


BASIC ENERGY: S&P Raises Senior Unsecured Notes Rating to 'B+'
--------------------------------------------------------------
Standard & Poor's Ratings Services raised its senior unsecured
debt ratings on Midland, Texas-based oil fields services company
Basic Energy Services' senior unsecured notes to 'B+' from 'B'.

"We simultaneously revised the recovery rating on these issues to
'4', indicating our expectation of average recovery in the event
of a payment default, from '5'. The improved recovery expectation
reflects an updated higher valuation for the company in a default
scenario. In view of the company's strong operating  performance
in 2010 and 2011, we have increased our run-rate EBITDA estimate
post default to $100 million, which is approximately half of the
average  EBITDA over the last four years," S&P said.

This results in a gross enterprise value of $600 million. Despite
an increase in the company's borrowing base last year, this would
leave approximately $310 million in value available to the $726
million in claims relating to the unsecured notes. This results in
our  expectation of average (30% to 50%) recovery in the event of
a payment  default, consistent with a recovery rating of '4'.

The ratings on Basic Energy Services Inc. continue to reflect its
participation in the highly cyclical and competitive U.S. oilfield
services market and indirect exposure to volatile hydrocarbon
prices. The ratings also incorporate Basic's strong position in
the workover rig segment, solid-positioning in oil-prone basins,
and its capital spending flexibility  during industry downturns.

Ratings List

Basic Energy Services Inc.
Corporate credit rating                 B+/Stable/--

Upgraded; Revised Recovery Rating
                                         To              From
Senior unsecured notes                  B+              B
   Recovery rating                       4               5


BECHARA HONEIN: 9th Cir. BAP Affirms Ruling in Partnership Dispute
------------------------------------------------------------------
The U.S. Bankruptcy Appellate Panel for the Ninth Circuit affirmed
a bankruptcy court's judgment denying Michael Harris' motion for a
partnership accounting and settling title to certain real property
in his adversary proceeding against chapter 11 debtor Bechara
Victor Honein.

The appellate case is, MICHAEL HARRIS, Appellant, v. BECHARA
VICTOR HONEIN, Appellee, BAP No. NV-10-1494 (9th Cir. BAP).  A
copy of the Ninth Circuit BAP's June 27, 2012 Memorandum is
available at http://is.gd/vn1xR4from Leagle.com.

Honein and Harris entered into an oral partnership agreement in
2002 to purchase real property on which a gas station would be
operated.  The parties never prepared a written partnership
agreement.  The partnership was to be equally owned by Honein and
Harris, with each partner to have an equal responsibility to
contribute the sums necessary to fund the partnership.  While it
was intended that the partnership acquire and own the real
property, it would not own or operate the gas station business.
The parties agreed that, when acquired, title to the real property
would be placed in Honein's name, because Harris had outstanding
money judgments against him and was experiencing other problems
with his creditors.

From 2002 to 2003, Honein and Harris inspected various properties
and made offers to acquire them.  Ultimately, one offer proposed
by Honein was accepted for a property in Carson City, Nevada,
owned by BP West Coast Products LLC.  Honein and BP/ARCO executed
a sale contract for $550,000.  Harris arranged for a short-term
loan from his brother, Lee Harris, in the amount of $450,000 to
close the sale.  Honein alone signed a promissory note in favor of
Lee Harris, with no reference to any partnership with Harris.

Although the parties do not dispute that the amount owed on this
promissory note was $450,000, the note executed by Honein was for
$850,000.  The bankruptcy court later found that both Honein and
Harris intended that this false document would be used to inflate
the value of the Property to induce banks to provide a much higher
commercial loan.  Then, through this scheme, after paying off the
$450,000 to Lee Harris, the parties could pocket the fraudulently
obtained surplus in loan proceeds.

The sale of the Property closed on May 23, 2003; all documents
were signed by Honein with no reference to a partnership with
Harris; title vested in Honein.  At some point not clear in the
record, Honein gave a grant deed to Lee Harris for a 50% interest
in the Property, which deed was never recorded.  Lee Harris, in
turn, provided a quitclaim deed to Harris, again at a time not
clear in the record, which was also not recorded.

A condition on title to the Property was that it be used to
operate a BP/ARCO service station.  At closing of the sale, Honein
applied for a BP/ARCO franchise to operate a service station and
convenience store on the Property.  Honein then attended and
successfully completed the mandatory franchise holder "training
school," paying the $15,000 tuition, and was awarded the franchise
in his own name.  Harris never attended the training school or
attempted to obtain the status of a franchise holder.  Indeed,
because Harris never qualified as a BP/ARCO franchise holder, the
terms of the deed to the Property prevented him from ever owning
it.

Honein has owned and operated the service station and convenience
store since 2003.  Harris was employed there at times, receiving
total wages of $38,400.

In response to a continuing dispute with Lee Harris over repayment
of the $450,000 loan, Honein filed a chapter 11 petition on April
15, 2005 (Bankr. D. Nev. Case No. 05-51094).  Honein's Schedule D
lists a disputed secured claim of $450,000 in favor of Lee Harris.
Neither Honein's schedules nor statement of financial affairs
makes any reference to any partnership with Harris, or in any way
lists Harris as a creditor.

Harris sued Honein on Dec. 6, 2005.  The complaint, as amended on
June 19, 2006, sought an order from the bankruptcy court declaring
that the Property was held in trust by Honein for the benefit of
Harris; adjudging Harris to have an equitable lien for the value
of 50% of the Property; quieting title to, and determining that
Harris is the beneficial and legal owner of, 50% of the Property;
and monetary damages.

Harris alleges that Honein punched him; Honein alleges that Harris
threatened his children. Honein obtained a restraining order
against Harris.

Honein filed an Answer and Counterclaim on Sept. 15, 2006, seeking
an award of money damages from Harris for his alleged fraud, and a
declaratory judgment that Honein was the sole owner of the
Property.

The bankruptcy court conducted a trial in the adversary proceeding
on April 26 and 27, 2007.  Honein, Harris and Lee Harris
testified.  At the end of trial, the bankruptcy court orally ruled
on the record that both parties were in pari delicto, because they
had established and pursued the partnership business for an
illegal purpose and, therefore, the bankruptcy judge stated, "I am
finding against both parties and all their claims for relief." The
bankruptcy court entered Findings of Fact and Conclusions of Law
on January 6, 2009.

Regarding the counterclaim, the Court ruled that Honein was
prevented from recovery under the doctrine of in pari delicto.  As
to Harris' claims, the court determined:

     -- Harris had breached the partnership agreement by failing
to contribute his 50% of the funds needed by the partnership, and
in fact "contributed nothing towards the purchase of the Property,
or its improvement and maintenance through June 2004."

     -- The grant deed from Honein to Lee Harris was intended for
security purposes only, and did not transfer any ownership
interest in the Property to him. As a result, the quitclaim deed
from Lee Harris to Harris also did not create an ownership
interest in the Property.

     -- Harris was not entitled to recover damages.

     -- The partnership was dissolved and neither the partnership,
Harris nor Lee Harris had any claim or ownership interest in the
Property.

The bankruptcy court made the following ruling at the end of its
conclusions: "However, both Harris and Honein are entitled to an
accounting or a valuation of their Partnership interests in this
adversary proceeding pursuant to the applicable provisions of the
Nevada Revised Statutes."

In April 2010, Harris filed a Motion for an Accounting and
Valuation of Partnership Interests.  Honein opposed, arguing that
Harris was entitled to no relief under the Court's finding that he
was in pari delicto, would not be entitled to any recovery from an
accounting, and that an extensive accounting had already been
provided to the Court.

In November 2010, the Court ruled that since the parties were in
pari delicto, neither of them were entitled to an accounting.  The
Court also held that the the Partnership had been dissolved as of
June 2004, and that the Property" shall remain the sole and
separate property of Bechara Victor Honein."  Harris appealed.


BEHRINGER HARVARD: Transfers Condominium Unit to Credit Union
-------------------------------------------------------------
Behringer Harvard Mountain Village, LLC, a wholly-owned subsidiary
of Behringer Harvard Short-Term Opportunity Fund I LP, entered
into a Deed in Lieu of Foreclosure Agreement with Credit Union
Liquidity Services, LLC, effective May 8, 2012, whereby the
Borrower transferred ownership, of the 23-unit condominium
property in Telluride, Colorado to the Lender, and subject to
certain contingencies, resulted in full settlement of the
outstanding debt to the Lender.

On Sept. 29, 2006, Behringer Harvard entered into a loan agreement
with the Lender to borrow a total principal amount of up to $27.7
million to construct Cassidy Ridge.  The outstanding principal
balance, together with all accrued but unpaid interest, was due
and payable on the maturity date of Oct. 1, 2011.  The loan, which
was recourse to Behringer, had an outstanding principal balance of
approximately $27.7 million at May 17, 2012.

                      About Behringer Harvard

Addison, Tex.-based Behringer Harvard is a limited partnership
formed in Texas on July 30, 2002.  The Company's general partners
are Behringer Harvard Advisors II LP and Robert M. Behringer.  As
of Sept. 30, 2011, seven of the twelve properties the Company
acquired remain in the Company's  portfolio.  The Company's
Agreement of Limited Partnership, as amended, provides that the
Company will continue in existence until the earlier of Dec. 31,
2017, or termination of the Partnership pursuant to the
dissolution and termination provisions of the Partnership
Agreement.

For the year ended Dec. 31 2011, Deloitte & Touche LLP, in Dallas,
Texas, noted that the uncertainty surrounding the ultimate outcome
of settling unpaid debt and its effect on the Partnership, as well
as the Partnership's operating losses at its subsidiaries, raise
substantial doubt about its ability to continue as a going
concern.  The Partnership is facing a significant amount of debt
maturities in the near future and debt which has matured but
remains unpaid, which is recourse to the Partnership.

Behringer reported a net loss of $50.15 million in 2011, a net
loss of $18.71 million in 2010, and a net loss of $15.47 million
in 2009.

The Company's balance sheet at March 31, 2012, showed $112.45
million in total assets, $135.77 million in total liabilities and
a $23.32 million total deficit.

                         Bankruptcy Warning

Of Behringer's $122.8 million in notes payable at March 31, 2012,
$51.3 million has matured and is subsequently in default and an
additional $50.8 million is scheduled to mature in the next twelve
months.  As of March 31, 2012, of the Company's $122.8 million in
notes payable, $110.4 million was secured by properties and $99.9
million was recourse to the Company.  The Company continues to
have negotiations and discussions with lenders to modify or
restructure loans, outcomes of which may include a sale to a third
party or returning the property to the lender.  The Company may
also consider putting certain of its subsidiaries into bankruptcy
in order to protect the Company's interest in the property.


BETSEY JOHNSON: Settles Debt With Creditor Steve Madden
-------------------------------------------------------
Jamie Santo at Bankruptcy Law360 reports that Betsey Johnson LLC
on Monday asked a New York judge to approve a settlement with
creditor Steve Madden Ltd. that would divvy up the proceeds from
the fashion house's ongoing asset sale and open the possibility of
a return for unsecured creditors.

According to Bankruptcy Law360, the agreement resolves a number of
disputes between the companies and sees Madden exchange a secured
claim for a majority share of the sale proceeds and a $1 million
unsecured claim.

                       About Betsey Johnson

New York-based women's fashion retailer Betsey Johnson LLC filed a
Chapter 11 bankruptcy petition (Bankr. S.D.N.Y. Case No. 12-11732)
on April 26, 2012, to effectuate a sale of its assets.

Formed as B.J. Vines by its namesake, iconic fashion designer
Betsey Johnson in 1978, the Debtor sells clothing, footwear,
handbags and a signature fragrance through 63 Betsey Johnson
retail stores and outlets in the U.S.  The Company, which has 400
employees, also sells its products in department and specialty
stores worldwide, including Macy's and Lord & Taylor, and online
at http://www.betseyjohnson.com/ Non-debtor subsidiaries operate
five stores in Canada and one store in England.

In 2010, Steven Madden Ltd. a footwear designer and marketer,
swapped US$27.4 million of secured debt for ownership of Betsey
Johnson's trademarks and intellectual property.  The deal
satisfied all outstanding debt under a US$50 million term loan
used to finance the business' acquisition by Castanea Partners.
At the same time, Castanea, the company's majority owner, made a
new capital investment of US$3 million as part of the deal with
Madden.

Betsey Johnson estimated assets and debts of US$10 million to
US$50 million as of the Chapter 11 filing.

Judge James Peck oversees the case.  The Debtor has tapped the law
firm of Goulston & Storrs, as counsel; Togut, Segal & Segal, LLP,
as co-counsel; and Donlin Recano & Company as claims and notice
agent.  The petition was signed by Jonathan Friedman, chief
financial officer.

Hilco Merchant Resources, LLC, is represented by Chris L.
Dickerson, Esq., at DLA Piper LLP (US).  Counsel for Steven
Madden, Ltd., is Neil Herman, Esq., at Morgan, Lewis & Bockius
LLP.  Counsel for First Niagara Commercial Finance, Inc., the DIP
Lender, is James C. Fox, Esq., at Ruberto, Israel & Weiner.

Hahn & Hessen LLP serves as the Official Committee of Unsecured
Creditors' counsel.


BIOPACK ENVIRONMENTAL: Has Exclusive License to Beaute de Maman
---------------------------------------------------------------
Biopack Environmental Solutions, Inc., on June 25, 2012, entered
into a License and Asset Purchase Option Agreement with NorthStar
Consumer Products, LLC, under which TriStar Consumer Products,
Inc., Biopack's wholly-owned subsidiary, acquired the exclusive
license to develop, market and sell, NCP's Beaute de Maman product
line, which is a line of skincare and other products specifically
targeted for pregnant women.  In addition, the Company acquired
the exclusive license rights to develop, market and sell NCP's
formula being developed for itch suppression, which would be sold
as an over-the-counter product, if successful.

These licenses are for a period of up to one year, subject to
earlier termination upon specified events.  During the term of the
license, the assets and business being licensed will be run by
management of NCP pursuant to a consulting agreement.  As a result
of these license rights the Company is now responsible for
developing, marketing and selling the "Beaute de Maman" products,
as well as NCP's anti-itch formula, including all expenses,
contractual arrangements, etc., related to product development,
manufacturing, marketing, selling, bottling and packaging, and
shipping.  The Company will also receive all revenue derived from
sales of the products, other than the amounts owed to Dr. Michelle
Brown, from whom NCP purchased the "Beaute de Maman" business and
assets.  Under the arrangement with Dr. Brown she is entitled to
approximately 7% of net revenue for all products sold under the
Beaute de Maman brand name and derived from formulas transferred
under the agreement with NCP for a 20 year period ending Dec. 31,
2031.  In exchange for these license rights the Company agreed to
issue NCP 225,000 shares of the Company's Series D Convertible
Preferred Stock.  This transaction closed on June 26, 2012.

The Company, through its wholly-owned subsidiary, has the option
to purchase all the assets related to the "Beaute de Maman"
products, as well as NCP's anti-itch formula.

In connection with the Company's license rights and to ensure the
Company can fulfill any immediate orders timely, the Company
purchased all existing finished product of the Beaute de Maman
product line currently owned by NCP.  In exchange for the
inventory the Company agreed to issue NCP 25,000 shares of its
Series D Convertible Preferred Stock.

On June 29, 2012, the Company entered into a Stock Purchase
Agreement with Rockland Group, LLC, an entity owned and controlled
by Harry Pond, one of the Company's officers and directors.  Under
the Stock Purchase Agreement, Rockland Group agreed to purchase
1,540,000 shares of the Company's Series D Convertible Preferred
Stock in exchange for $308,000.  To date, Rockland Group has paid
$141,000 of this amount and plans to pay the remaining balance on
or before July 20, 2012.

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

                        http://is.gd/N1vlTT

                    About Biopack Environmental

Kowloon, Hong Kong-based Biopack Environmental Solutions Inc.
develops, manufactures, distributes and markets bio-degradable
food containers and disposable industrial packaging for consumer
products.  The Company supplies its biodegradable food containers
and industrial packaging products to multinational corporations,
supermarket chains and restaurants located across North America,
Europe and Asia.

The Company has a factory in Jiangmen City in the People's
Republic of China.

The Company reported a net loss $472,596 on $3,594 of revenue for
the three months ended March 31, 2011, compared with net profit of
$28,966 on $68,639 of revenue for the same period during the prior
year.

The Company's balance sheet at March 31, 2011, showed $959,834 in
total assets, $3.45 million in total liabilities and a
$2.49 million total stockholders' deficit.

                           Going Concern

As reported by the TCR on April 26, 2011, Wong Lam Leung & Kwok
C.P.A. Limited, in Hong Kong, expressed substantial doubt about
Biopack Environmental's ability to continue as a going concern.
The independent auditors noted that the Company incurred a net
loss of $2.4 million for the year ended Dec. 31, 2010, and had an
accumulated deficit of $7.3 million and a working capital deficit
of $2.2 million as of Dec. 31, 2010.

The Company said that its future is dependent upon its attaining
profitable operations and raising the capital it will require in
order to achieve profitable operations through the issuance of
equity securities, borrowings or a combination thereof.

The Company has not filed any financial report after the March 31,
2011, Form 10-Q.


BIOZONE PHARMACEUTICALS: Amends 8.3MM Shares Resale Prospectus
--------------------------------------------------------------
Biozone Pharmaceuticals, Inc., filed with the U.S. Securities and
Exchange Commission amendment no. 2 to the Form S-1 relating to
the sale by Aero Liquidating Trust of up to 8,345,310 shares of
the Company's common stock.

The prices at which the selling stockholder may sell shares will
be determined by the prevailing market price for the shares or in
negotiated transactions.  The Company will not receive any
proceeds from the sale of these shares by the selling stockholder.

The Company will bear all costs relating to the registration of
these shares of the Company's common stock, other than any selling
stockholder's legal or accounting costs or commissions.

The Company's common stock is quoted on the Over-the-Counter
Bulletin Board under the symbol "BZNE.OB".  The last reported sale
price of the Company's common stock as reported by the OTC
Bulletin Board on June 27, 2012, was $4.00 per share.

A copy of the amended prospectus is available for free at:

                        http://is.gd/HJvp54

                  About Biozone Pharmaceuticals

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

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

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

In the auditors' report accompanying the financial statements for
year ended Dec. 31, 2011, Paritz and Company. P.A., in Hackensack,
N.J., expressed substantial doubt about the Company's ability to
continue as a going concern.  The independent auditors noted that
the Company does not have sufficient cash balances to meet working
capital and capital expenditure needs for the next twelve months.
In addition, as of Dec. 31, 2011, the Company has a shareholder
deficiency and negative working capital of $4.37 million.  The
continuation of the Company as a going concern is dependent on,
among other things, the Company's ability to obtain necessary
financing to repay debt that is in default and to meet future
operating and capital requirements.

Biozone reported a net loss of $5.45 million in 2011, compared
with a net loss of $319,813 in 2010.

The Company's balance sheet at March 31, 2012, showed $8 million
in total assets, $13.76 million in total liabilities and a $5.76
million total shareholders' deficiency.


BURCAM CAPITAL: Files for Bankruptcy to Renegotiate Loan Terms
--------------------------------------------------------------
Burcam Capital II LLC filed for Chapter 11 protection (Bankr.
E.D.N.C. Case No. 12-04729) on June 28, 2012.  Judge J. Rich
Leonard presides over the Company's case.

David Bracken at newsobserver.com reports that Burcam Capital II,
owned by Raleigh, N.C. developer Neal Coker, sought Chapter 11
bankruptcy after being unable to renegotiate the terms of its
loan.  According to the report, Burcam Capital II listed both
assets and liabilities of between $10 million and $50 million in
its filing.   The largest listed creditor is LaSalle Bank, which
is owed $782,245.  LaSalle is the trustee for the bond holders who
own the debt on the property.

The report says Burcam Capital II took out a $13 million loan
in 2003 that is scheduled to come due in September of next year.
That loan was bundled with other commercial real estate loans and
sold to Wall Street investors as a commercial mortgage-backed
security.  These loans, because of their structure, can be among
the most difficult loans to get modified.

The report relates the bond holders began foreclosure proceedings
last year, and Mr. Coker said his group made several proposals to
restructure the mortgage and extend its due date.  "Obviously,
having to resort to a bankruptcy filing is a culmination of a
series of attempts to negotiate," the report quotes Mr. Coker as
saying.

The report says Mr. Coker's group sold all 36 of the building's
residential condos in the top three floors before it took out the
2003 loan.  Burcam Capital II retains ownership of the building's
roughly 50,000 square feet of office and four ground floor retail
spaces.  Nearly all of the office and retail space is now leased
except for a 7,000-square-foot space that was once home to Cantina
South.  The building's retail tenants include the restaurants
Draft, Krave and Oryx.


CDM JOINT VENTURES: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: CDM Joint Ventures, LLC
        2410 DeKalb Medical Parkway
        Lithonia, GA 30058

Bankruptcy Case No.: 12-66520

Chapter 11 Petition Date: July 2, 2012

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

Judge: Mary Grace Diehl

Debtor's Counsel: John C. Pennington, Esq.
                  JOHN C. PENNINGTON, P.C.
                  P.O. Box 275
                  Helen, GA 30545
                  Tel: (706) 878-0033
                  Fax: (706) 878-9916
                  E-mail: jcppc@windstream.net

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

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

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

The petition was signed by Manbir Singh, manager.


CHINA NETWORKS: UHY Vocation Raises Going Concern Doubt
-------------------------------------------------------
China Networks International Holdings, Ltd., filed its annual
report on Form 20-F for the fiscal year ended Dec. 31, 2011.

UHY Vocation HK CPA Limited, in Hong Kong, expressed substantial
doubt about China Networks' ability to continue as a going
concern.  The independent auditors noted that the Company has
limited operations and did not generate any revenue for the year
2011.

The Company reported a net loss of $11.90 million on $0 revenue in
2011, compared with a net loss of $1.24 million on $3.75 million
of revenue in 2010.

Due to the Company's strategic plan on the restructuring and
integration of Kunming assets, on Sept. 1, 2010, CNIH entered into
two agreements with its joint venture partner, Kunming TV Station,
on the sale of the Company's assets in Kunming JV and Kunming Ad
Co., which are located in Yunnan Province in the PRC, with a total
consideration of $22.6 million (RMB150 million) and $0.1 million
(RMB 0.7 million), respectively.  On Dec. 14, 2010, Kunming JV and
Kunming Ad Co. were sold back to the Kunming TV Station.  The
disposition was completed on Dec. 15, 2010.

Subsequent to the disposal of Kunming entities and termination of
contracts with YR TV Station, the Company did not generate any
revenue during the year 2011 and had net cash used in operating
activities.

The Company's balance sheet at Dec. 31, 2011, showed $8.18 million
in total assets, $2.06 million in total liabilities, and
stockholders' equity of $6.12 million.

A copy of the Form 20-F/A is available for free at:

                       http://is.gd/VkgiR3

China Networks International Holdings, Ltd., headquartered in
Beijing, PRC, was incorporated in Delaware on Aug. 16, 2006, as
Alyst Acquisition Corp. ("Alyst") in order to serve as a vehicle
for the acquisition of an operating business in any industry, with
a focus on the telecommunications industry, through a merger,
capital stock exchange, asset acquisition or other similar
business combination.

The Company was formed to provide broadcast television advertising
services in the PRC operating via joint venture partnerships with
PRC state-owned television broadcasters (PRC TV Stations).  The
Company commenced operations on Oct. 1, 2008.  Activity through
Sept. 30, 2008, related to the Company's formation, private
placement offering, establishment of joint ventures and
contractual relationships in the PRC, and business combination
with Alyst.




CHISEN ELECTRIC: Mazars CPA Raises Going Concern Doubt
------------------------------------------------------
Chisen Electric Corporation filed on July 2, 2012, its annual
report on Form 10-K for the fiscal year ended March 31, 2012.

Mazars CPA Limited, in Hong Kong, expressed substantial doubt
about Chisen Electric's ability to continue as a going concern.
The independent auditors noted that the Company had a negative
working capital as of March 31, 2012, and incurred loss for the
year then ended.

The Company reported a net loss of $15.79 million on
$119.56 million of sales for the fiscal year ended March 31, 2012,
compared with net income of $11.07 million on $243.81 million of
sales for the fiscal year ended March 31, 2011.

The Company's balance sheet at March 31, 2012, showed $256.84
million in total assets, $229.93 million in total liabilities, and
stockholders' equity of $26.91 million.

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

                       http://is.gd/tP5GfG

Headquartered in Changxing, Zhejiang Province, The People's
Republic of China, Chisen Electric Corporation produces and sells
sealed lead-acid motive batteries, also known as valve regulated
lead-acid motive batteries (VRLA batteries) in China's personal
transportation device market.  The Company's motive battery
products, sold under the Company's own brand name "Chisen", are
predominantly used in electric bicycles and are distributed and
sold in China.


CHRIST HOSPITAL: Judge Approves $45.3MM Sale of Hospital
--------------------------------------------------------
Martin Bricketto at Bankruptcy Law360 reports that the planned
$45.3 million sale of Christ Hospital in Jersey City, N.J., to a
for-profit operator of other local hospitals has cleared another
key hurdle, with a state court judge on Friday giving the
transaction his stamp of approval.

U.S. Bankruptcy Judge Morris Stern in March approved Hudson
Hospital Holdco LLC's bid for not-for-profit Christ Hospital over
a competing offer, but the deal still had to undergo scrutiny from
the New Jersey Department of Health and Senior Services and the
state attorney general, according to Bankruptcy Law360.

                       About Christ Hospital

Christ Hospital filed for Chapter 11 bankruptcy (Bankr. D. N.J.
Case No. 12-12906) on Feb. 6, 2012.  Christ Hospital, founded in
1872 by an Episcopalian priest, is a 367-bed acute care hospital
located in Jersey City, New Jersey at 176 Palisade Avenue, serving
the community of Hudson County.  The Debtor is well-known for its
broad range of services from primary angioplasty for cardiac
patients to intensity modulated radiation therapy for those
battling cancer.  Christ Hospital is the only facility in Hudson
County to offer IMRT therapy, which is the most significant
breakthrough in cancer treatment in recent years.

Christ Hospital filed for Chapter 11 after an attempt to sell the
assets fell through.  Judge Morris Stern presides over the case.
Lawyers at Porzio, Bromberg & Newman, P.C., serve as the Debtor's
counsel.  Alvarez & Marsal North America LLC serves as financial
advisor.  Logan & Company Inc. serves as the Debtor's claim and
noticing agent.

The Health Professional and Allied Employees AFT/AFI-CIO is
represented in the case by Mitchell Malzberg, Esq., at Mitnick &
Malzberg P.C.

DIP lender HFG is represented in the Debtor's case by Benjamin
Mintz, Esq., at Kaye Scholer LLP and Paul R. De Filippo, Esq., at
Wollmuth Maher & Deutsch LLP.

Andrew H. Sherman, Esq., at Sills, Cummis & Gross, serves as
counsel to the Official Committee of Unsecured Creditors.  J.H.
Cohn LLP serves as financial advisor to the committee.

Suzanne Koenig of SAK Management Services, LLC, has been appointed
as patient care ombudsman.  She is represented by Greenberg
Traurig as counsel.

Hudson Hospital Holdco is represented in the case by McElroy,
Deutsch, Mulvaney & Carpenter, LLP.  Community Healthcare
Associates is represented in the case by Lowenstein Sandler PC.
Liberty Healthcare System, Inc., d/b/a Jersey City Medical Center,
which joined in CHA's bid, is represented by Duane Morris LLP.

In April 2012, the Bankruptcy Court authorized Christ Hospital to
sell its facility to Hudson Hospital Propco LLC and Hudson
Hospital Holdco LLC after a bidding and auction process.  In
consideration of the sale, transfer, conveyance and assignment of
the Assets, the Purchaser will assume liabilities; pay to Seller
cash in the amount of $29,496,000; pay the amount of $3,500,000 to
satisfy a portion of Seller's obligations to the PBGC; pay all
Transfer Taxes due in connection with the closing of the
transactions, currently estimated to be $300,000; pay the cost of
all director and officer "tail" insurance coverage, in the amount
currently estimated to be $150,000; and release all rights to the
Good Faith Deposit and any right to repayment of the Good Faith
Deposit.


CIRCLE STAR: Faces Cottonwood Fraud Complaint in Oklahoma
---------------------------------------------------------
Circle Star Energy Corp.'s registered agent was served with a
complaint (Civil Action No. 12-CV-327-CVE-PJC) filed in the U.S.
District Court for the Northern District of Oklahoma by Cottonwood
Natural Resources, Ltd., on or about June 18, 2012.

Cottonwood alleges breach of contract and fraud in connection with
a Purchase and Sale Agreement dated April 19, 2012, between the
company and Cottonwood related to the purchase of certain oil and
gas interests in approximately 14,640 acres in Finney County,
Kansas.  Cottonwood filed the complaint after the Company
terminated the Purchase Agreement after the Company determined
that Cottonwood had options to title to less than 12,908.46 net
acres and Cottonwood failed to disclose all material facts related
to the Kansas Properties.  Cottonwood is seeking damages of at
least $4,324,180.

The Company said the allegations by Cottonwood are without merit
and the Company intends to vigorously defend against the claims.
The Company is evaluating potential counterclaims against
Cottonwood.

                         About Circle Star

Houston, Tex.-based Circle Star Energy Corp. owns royalty,
leasehold, operating, net revenue, net profit, reversionary and
other mineral rights and interests in certain oil and gas
properties in Texas.  The Company's properties are in Crane,
Scurry, Victoria, Dimmit, Zavala, Grimes, Madison, Robertson,
Fayette, and Lee Counties.

The Company's balance sheet at Jan. 31, 2012, showed $3.91 million
in total assets, $6.75 million in total liabilities and a $2.84
million total stockholders' deficit.

The Company said in its quarterly report for the period ended
Jan. 31, 2012, that there is substantial doubt about its ability
to continue as a going concern.  The continuation of the Company
as a going concern is dependent upon continued financial support
from the Company's shareholders, the ability of the Company to
obtain necessary financing to continue operations, and the
attainment of profitable operations.  The Company can give no
assurance that future financing will be available to it on
acceptable terms if at all or that it will attain profitability.
These factors raise substantial doubt about the Company's ability
to continue as a going concern.


CLEANTECH INNOVATIONS: Posts $2.58 Million Net Loss in Q1 2012
--------------------------------------------------------------
CleanTech Innovations, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $2.58 million on $585,856 of sales
for the three months ended March 31, 2012, compared with net
income of $498,127 on $3.93 million of sales for the same period
in 2011.

The Company's balance sheet at March 31, 2012, showed
$46.50 million in total assets, $17.17 million in total
liabilities, and stockholders' equity of $29.33 million.

Goldman Kurland and Mohidin, LLP, in Encino, California, expressed
substantial doubt about CleanTech's ability to continue as a going
concern, following the Company's results for the fiscal year ended
Dec. 31, 2011.  The independent auditors noted that the Company
had a loss from operations and used $8.5 million in operating
activities in 2011.  "In addition it has loans of $3.4 million and
promissory note of $50,000 past due.  The Company also has a
$10 million loan due in March 2013.  The Company does not have
access to the public capital market due to delisting from NASDAQ."

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

                       http://is.gd/kSQoUe

Based in Tieling, Liaoning Province, China, CleanTech Innovations,
Inc., formerly known as Everton Capital Corporation, was
incorporated on May 9, 2006, in the State of Nevada.  Through its
wholly owned operating subsidiaries in China, the Company designs,
manufactures, tests and sells structural towers for on-land and
off-shore wind turbines.  The Company also manufactures specialty
metal products that require advanced manufacturing and engineering
capabilities, including bellows expansion joints and connecting
bend pipes used for waste heat recycling in steel production, in
ultra-high-voltage electricity transmission grids and in
industrial pressure vessels.


CLIFFS CLUB: Wins Permission to Start Polling Creditors on Plan
---------------------------------------------------------------
Rachel Feintzeig at Dow Jones' DBR Small Cap reports that a judge
cleared Cliffs Club & Hospitality Group Inc. to begin polling
creditors on its Chapter 11 plan, which would hand control of the
company to an investor consortium led by the Carlile Group.

                        About Cliffs Club

Units of The Cliffs Communities, led by The Cliffs Club &
Hospitality Group, Inc., doing business as The Cliffs Golf &
Country Club, along with 10 affiliates, sought Chapter 11
protection (Bankr. D. S.C. Lead Case No. 12-01220) on Feb. 28,
2012.

The Cliffs has eight premier, private master-planned residential
communities, each to have its own world-class golf course.
Approximately 3,734 lots have been sold.  There are currently
1,385 finished homes, with 63 under construction.  The properties
for sale are owned by non-debtor DevCo entities.

The Feb. 28 Debtors operate the exclusive membership clubs for
golf, tennis, wellness and social activities at The Cliffs'
communities in North and South Carolina.  The clubs have 2,280
members, and there are 766 resigned members with refundable
deposits totaling $37 million.  The Debtors do not own the golf
courses -- they only own or lease all the "core amenities" for the
operation of the golf courses.

Another affiliate, Keowee Falls Investment Group, LLC, filed a
Chapter 11 petition (Bankr. D. S.C. Case No. 12-01399) in
Spartanburg, South Carolina, on March 2, 2012.  Travelers Rest-
based Keowee Falls estimated at least $100 million in assets and
liabilities of up to $50 million.

Judge John E. Waites presides over the Debtors' cases.   Lawyers
at McKenna Long & Aldridge LLP serve as the Debtors' lead counsel.
Dana Elizabeth Wilkinson, Esq., serves as local counsel.  Grisanti
Galef & Goldress serves as restructuring advisors and Katie S.
Goodman of GGG serves as CRO.  BMC Group Inc. serves as the
Debtors' claims and noticing agent.

According to papers filed in Court, the Debtors' total assets had
a $175 million book value at Dec. 31, 2011.  The Debtors' total
liabilities had a $333 million book value at Dec. 31, 2011.  The
petition was signed by Timothy P. Cherry, authorized officer.

Wells Fargo, as Indenture Trustee, is represented in the case by
Daniel S. Bleck, Esq., at Mintz Levin Cohn Ferris Glovsky and
Popeo P.C.; and Elizabeth J. Philp, Esq., and Michael Beal, Esq.,
at McNair Law Firm P.A.

The Official Committee of Unsecured Creditors is represented in
the case by John B. Butler, III, P.A., and Jonathan B. Alter,
Esq., at Bingham McCutchen LLP.


COMMERCIAL MANAGEMENT: Can Access Cash Collateral Through Sept. 30
------------------------------------------------------------------
Judge Nancy C. Dreher of the Bankruptcy Court for the District of
Minnesota has authorized Commercial Management, LLC, to access the
cash collateral of U.S. Bank National Association on a final
basis, through Sept. 30, 2012, in accordance with a budget.

U.S. Bank asserts that, as of the Petition Date, it holds a fully
secured claim against the Debtor in the amount of $20,286,422.46,
which Prepetition Obligations are exclusive of additional accrued
interest, charges, attorneys' fees and all other applicable costs
and fees.  U.S. Bank also asserts that, as of the Petition Date,
it holds valid and non-voidable liens and security interests in
substantially all of the Debtor's real and personal property under
the terms of the Loan Documents.

Judge Dreher ruled the Cash Collateral may be used (a) in the
ordinary course of business for general working capital and
general corporate purposes and (b) for restructuring and other
related expenses.

As adequate protection against any diminution in value, U.S. Bank
will receive, (i) $75,000 per month in payments, (ii) a valid and
perfected replacement security interest in all receipts from
operation arising from post-petition operations of Buena Vista
Apartments and in all other property of the estate, and (iii)
solely to the extent the adequate protection liens prove
insufficient to protect the U.S. Bank against Diminution of Value,
allowed superpriority administrative expenses claims in the
Chapter 11 case in the amount of any deficiency.

                    About Commercial Management

Commercial Management, LLC, filed a bare-bones Chapter 11 petition
(Bankr. D. Minn. Case No. 12-42676) in its hometown in Minneapolis
on May 2, 2012.  Commercial Management, a Single Asset Real Estate
as defined in 11 U.S.C. Sec. 101 (51B), does business as Buena
Vista Apartments, and owns the property at 6860 Shingle Creek
Parkway, in Brooklyn Center, Minnesota.

Related entities that have pending bankruptcy cases are Jeffrey J.
Wirth (Case No. 12-42368), Palmer Lake Plaza, LLC (Case No.
12-42266), Tomah Hospitality, LLC (Case No. 12-10894), and Tomah
Hotel Properties, LLC (Case No. 12-10895).

Judge Nancy C. Dreher presides over the case.  Commercial
Management has tapped Neal L. Wolf and the law firm of Neal Wolf &
Associates, LLC as bankruptcy counsel.   The Debtor also hired the
Law Offices of Neil P. Thompson, in Minneapolis, as local counsel.


COMMERCIAL MANAGEMENT: Files Schedules of Assets and Liabilities
----------------------------------------------------------------
Commercial Management, LLC, filed with the Bankruptcy Court for
the District of Minnesota its schedules of assets and liabilities,
disclosing:

     Name of Schedule              Assets          Liabilities
     ----------------            -----------       -----------
  A. Real Property               $30,000,000
  B. Personal Property               $49,458
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                $20,286,442
  E. Creditors Holding
     Unsecured Priority
     Claims                                                 $0
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                           $142,436
                                 -----------      ------------
        TOTAL                    $30,049,458       $20,428,878

                    About Commercial Management

Commercial Management, LLC, filed a bare-bones Chapter 11 petition
(Bankr. D. Minn. Case No. 12-42676) in its hometown in Minneapolis
on May 2, 2012.  Commercial Management, a Single Asset Real Estate
as defined in 11 U.S.C. Sec. 101 (51B), does business as Buena
Vista Apartments, and owns the property at 6860 Shingle Creek
Parkway, in Brooklyn Center, Minnesota.

Related entities that have pending bankruptcy cases are Jeffrey J.
Wirth (Case No. 12-42368), Palmer Lake Plaza, LLC (Case No.
12-42266), Tomah Hospitality, LLC (Case No. 12-10894), and Tomah
Hotel Properties, LLC (Case No. 12-10895).

Judge Nancy C. Dreher presides over the case.  Commercial
Management has tapped Neal L. Wolf and the law firm of Neal Wolf &
Associates, LLC as bankruptcy counsel.   The Debtor also hired the
Law Offices of Neil P. Thompson, in Minneapolis, as local counsel.


COMMUNITY FINANCIAL: BKD LLP Raises Going Concern Doubt
-------------------------------------------------------
Community Financial Shares, Inc., filed on June 22, 2012, its
annual report on Form 10-K for the fiscal year ended Dec. 31,
2011.

BKD, LLP, in Indianapolis, Indiana, expressed substantial doubt
about Community Financial's ability to continue as a going
concern.  The independent auditors noted that the Company has
suffered recurring losses from operations and is undercapitalized.

The losses reported by the Company during 2011 and 2010 were
primarily due to large provisions for loan losses and the
establishment of valuation allowances against the Company's
deferred tax asset.  Prior to sustaining these losses, the Company
had a history of profitable operations.  The Company's return to
profitable operations is contingent in part on the economic
recovery in its market area and the stability of collateral values
of the real estate that secures many of its loans.

In addition, the Company remains subject to the provisions of the
Order and a loan agreement that it has entered into with an
unaffiliated third party lender.  The Order requires the Bank to
achieve Tier 1 capital at least equal to 8% of total assets and
total capital at least equal to 12% of risk-weighted assets.  The
Company's loan with the unaffiliated third party, which had a
fixed rate of 6.0% and an outstanding balance of $1.3 million at
Dec. 31, 2011, is secured by all of the outstanding capital stock
of the Bank.  As of Dec. 31, 2011, the Company has made all
required interest payments on the outstanding principal amounts on
a timely basis.  As a condition of the Company's loan agreement,
the Bank must maintain a nonperforming assets-to-tangible-capital
ratio of not more than 65% measured quarterly and not incur a net
loss of more than $250,000 for the calendar year ended Dec. 31,
2010.  As of Dev. 31, 2011, the Company was not in compliance with
the debt covenants set forth in the loan agreement.  On May 3,
2012, the Company and the lender entered into a forbearance
agreement pursuant to which the lender agreed to accept $900,000,
plus accrued interest, attorney's fees and other costs, as full
satisfaction of the indebtedness provided that such payment are
made by the Company to the lender on or before July 30, 2012.  In
addition, upon receipt of the payment, all of the liens on and
security interests in favor of the lender under the loan documents
will be automatically terminated and released and all indebtedness
will be deemed fully satisfied.

The Company reported a net loss of $11.01 million on net interest
income (before provision for loan losses) of $10.77 million in
2011, compared with a net loss of $4.57 million on net interest
income (before provision for loan losses) of $10.40 million in
2010.

The Company's balance sheet at Dec. 31, 2011, showed
$328.99 million in total assets, $321.74 million in total
liabilities, and stockholders' equity of $7.25 million.

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

                       http://is.gd/09ZKM8

Glen Ellyn, Illinois-based Community Financial Shares, Inc., is a
registered bank holding company.  The operations of the Company
and its banking subsidiary consist primarily of those financial
activities common to the commercial banking industry.  All of the
operating income of the Company is attributable to its wholly-
owned banking subsidiary, Community Bank-Wheaton/Glen Ellyn.


CROSSOVER FINANCIAL I: DeCelles Creditors Lose Case Dismissal Bid
-----------------------------------------------------------------
The Bankruptcy Court denied a second attempt by the so-called
DeCelles Creditors to dismiss the Chapter 11 case of Crossover
Financial I, LLC.  The DeCelles Creditors argue that the Debtor's
bankruptcy case was filed without requisite authority.  The
DeCelles Creditors assert that the terms of a Security Agreement
for the pledge of a pro rata share of the limited liability
company membership interest as security for promissory notes
issued in connection with the Debtor's Private Placement
Memorandum divested control of the Debtor's management from its
sole member, Mitchell B. Yellen.  The DeCelles Creditors contend
the security interest is self-executing.  Thus, upon a default of
any respective promissory note, the control of the Debtor's
management from its sole member, Mr. Yellen, is divested.  As
asserted by counsel for the DeCelles Creditors, the default
automatically vested the Debtor's voting rights in "free floating"
secured creditors.

The Court, however, held that Colorado law requires a secured
creditor to enforce the security agreement and become admitted as
a member before voting rights associated with membership interests
pledged as collateral can be exercised.  According to the Court,
"Thus, neither the pledging of the membership rights as security
nor the declaration of a breach by the secured party is sufficient
to divest the pledging member of the right to vote.  To hold
otherwise would permit someone who is not a member or manager to
control a limited liability company."

Through the Private Placement Memorandum, the Debtor raised
$21,542,000, and in exchange issued 108 promissory notes to
parties providing the funds pursuant to the PPM.  Three of those
Notes were received by the DeCelles Creditors for funds loaned
totaling over $2 million.  The funds were to be loaned by the
Debtor to a related entity, HPR LLC, for the acquisition and
residential development of real property.  The Notes issued by the
Debtor provided either for monthly or quarterly interest payments
commencing in 2006 and a balloon payment of principal and unpaid
interest on Dec. 31, 2010.

A copy of Bankruptcy Judge Sidney B. Brooks' July 2, 2012 Order is
available at http://is.gd/GtqM3cfrom Leagle.com.

                    About Crossover Financial I

Crossover Financial I, LLC, based in Elizabeth, Colorado, was
formed on Aug. 12, 2005.  Mitchell B. Yellen is the manager and
sole member.  The Company was formed for the purpose of raising
funds through a Private Placement Memorandum to be loaned to an
entity known as HPR, LLC, in connection with the acquisition and
development of 440 acres of real property located near Monument,
Colorado.

HPR consisted of three members: Colorado Commercial Builders, Inc.
(37.5%); DJT, LLC (20.0%); and Yellen Family Partnership, LLLP
(42.5%).  Mitchell Yellen held an interest in the Yellen Family
Partnership, LLLP.

The project stalled primarily as a result of a collapse in the
residential real estate development market in 2007 and potential
developers pulled out of the project.  There has been no
further development activity on the Real Property since 2007.

Faced with the prospect of a lengthy foreclosure proceeding, the
Debtor entered into to an agreement with HPR whereby the Real
Property was transferred to the Debtor by way of a deed-in-lieu
of foreclosure.  Upon acquiring the Real Property, the Debtor
attempted to bring in additional developers to continue the
project but those efforts were unsuccessful.

The Company filed for Chapter 11 bankruptcy (Bankr. D. Colo. Case
No. 11-24257) on June 15, 2011.  Judge Sidney B. Brooks presides
over the case.

Stephen C. Nicholls, Esq., at Nicholls & Associates, P.C., in
Denver, serves as bankruptcy counsel.  In its petition, the Debtor
estimated assets and debts of $10 million to $50 million.  The
petition was signed by Mitchell B. Yellen.  Karen McClaflin of
Home Source Realty, LLC, Colorado acts as real estate broker for
the Estate.

An official unsecured creditors committee has not been appointed.


CYBERDEFENDER CORP: Exclusive Filing Period Extended to Sept. 20
----------------------------------------------------------------
The Hon. Brendan L. Shannon of the U.S. Bankruptcy Court for the
District of Delaware has extended by 90 days CyberDefender
Corporation's periods within which only the Debtor may file a plan
of reorganization and solicit acceptances of the plan.
Specifically, the Exclusivity Plan Period is extended through and
including Sept. 20, 2012, and the Exclusivity Solicitation Period
through and including Nov. 19, 2012.

As reported in the Troubled Company Reporter on May 31, 2012,
CyberDefender earlier this month obtained bankruptcy court
authority to sell the business to GR Match LLC for $12 million in
debt and $250,000 cash.  There were no competing bids, so an
auction was canceled.  The buyer will also cure the Debtor's
obligation to Oracle America Inc., successor-in-interest to
RightNow Technologies Inc.

The Sale Order provides that the cash portion of the proceeds will
be paid to the Debtor's estate subject to the arguments of the
objecting junior subordinated noteholders and Sean Downes, the
holder of al of the other 9% Subordinated Convertible Promissory
Noteholders against the Debtors, who argued the funds are proceeds
of the sale of assets to which their liens should attach.  The
Court will hold a separate hearing to determine the allocation of
the cash price among the Debtor's assets, a settlement agreement,
the releases being granted to the buyer under the Final DIP Order.

The Debtor is now in the process of closing the sale of
substantially all of its business to GR Match and is focused on
fulfilling a number of conditions and closing deliveries that
require its attention.  The Debtor also noted it has been involved
in the marketing and sale of its business which required that
management devote time and resources to diligence questions raised
by potential purchasers, make management presentations, and
assemble an online due diligence dataroom.

On May 2, 2012, the Court approved a settlement agreement among
the Debtor, the Official Committee of Unsecured Creditors, and GR
Match that resolves potential litigation between the estate, GR
Match, and the Committee regarding causes of action belonging to
the estate and releases granted under the Sale Order.

                        About CyberDefender

Los Angeles, Calif.-based CyberDefender Corporation provides
remote LiveTech services and security and computer optimization
software to the consumer and small business market.  The Company's
mission is to bring to market advanced solutions to protect
computer users against Internet viruses, spyware, identity theft
and related security threats.

In regulatory filings, the Company disclosed $7.96 million in
total assets, $42.54 million in total liabilities, and a $34.58
million total stockholders' deficit, as of Sept. 30, 2011.

CyberDefender filed for Chapter 11 protection (Bankr. D. Del. Case
No. 12-10633) on Feb. 23, 2012.  The Company entered into an asset
purchase agreement with GR Match LLC, an affiliate of Guthy-
Renker, to sell substantially all of its assets as a going concern
to GR Match, the senior secured lender.  The buyer committed to

provide up to $4.6 million in debtor-in-possession financing.

XRoads Solutions Group, LLC serves as financial advisor to the
Company and Pachulski Stang Ziehl & Jones LLP (James E. O'Neill)
serves as bankruptcy counsel.

An official committee of unsecured creditors has been appointed in
the case.


CYBERDEFENDER CORP: Court Sets Aug. 21 as Claims Bar Date
---------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware has
established Aug. 21, 2012, as the deadline for any person or
entity to file proofs of claim against CyberDefender Corporation.

Los Angeles, Calif.-based CyberDefender Corporation provides
remote LiveTech services and security and computer optimization
software to the consumer and small business market.  The Company's
mission is to bring to market advanced solutions to protect
computer users against Internet viruses, spyware, identity theft
and related security threats.

In regulatory filings, the Company disclosed $7.96 million in
total assets, $42.54 million in total liabilities, and a $34.58
million total stockholders' deficit, as of Sept. 30, 2011.

CyberDefender filed for Chapter 11 protection (Bankr. D. Del. Case
No. 12-10633) on Feb. 23, 2012.  The Company entered into an asset
purchase agreement with GR Match LLC, an affiliate of Guthy-
Renker, to sell substantially all of its assets as a going concern
to GR Match, the senior secured lender.  The buyer committed to
provide up to $4.6 million in debtor-in-possession financing.

XRoads Solutions Group, LLC serves as financial advisor to the
Company and Pachulski Stang Ziehl & Jones LLP (James E. O'Neill)
serves as bankruptcy counsel.

An official committee of unsecured creditors has been appointed in
the case.


DESERT CAPITAL: Klayman Files Claim vs. Calton for Losses
---------------------------------------------------------
The Securities Arbitration Law Firm of Klayman & Toskes, P.A.
filed a claim against Calton & Associates, Inc., on behalf of two
retirees, ages 88 and 81, to recover losses sustained in Desert
Capital Real Estate Investment Trust.  The claim was filed with
the Financial Industry Regulatory Authority.  The claim seeks
damages of $130,000.

According to the claim, the Claimants' Calton representative
solicited them to invest in Desert Capital REIT.  Aware that the
Claimants were retired, Calton's representative offered Desert
Capital as a low risk, income producing investment.  The Calton
representative said that the company had a solid track record of
paying dividends and would be a good addition to the Claimants'
income producing portfolio.  The Claimants' only source of income
was social security and their investments.  Consequently, they
could not afford to invest in a high risk, speculative, illiquid
investment. Unfortunately, Calton and its representative
misrepresented the risk of and the due diligence performed on
Desert Capital REIT.

Desert Capital REIT invested in loans to builders and developers
to buy, develop and build on commercial or residential land.  The
REIT did not invest in traditional residential mortgages.  The
loans were structured so that the REIT received monthly interest
payments during the life of the loan and a balloon principal
payment upon the maturity of the loan.  These types of loans carry
much more risk than traditional mortgages.  Towards the end of
2007, Desert Capital REIT started experiencing a substantial
number of borrower defaults. By 2008 and 2009 almost all of Desert
Capital's borrowers defaulted on their loans.  When the real
estate market crashed, defaults on the loans increased, liquidity
dried up and the value of Desert Capital REIT declined. The REIT
eventually went bankrupt.  As a result, the Claimants lost
$130,000.

Investors who purchased Desert Capital REIT from a FINRA brokerage
firm can contact K&T to explore their legal rights and options.
K&T is presently pursuing claims on behalf of investors who
sustained losses by purchasing REITs including Inland Western REIT
n/k/a Retail Properties of America, Apple REITs sold by David
Lerner Associates, AmREIT, KBS REIT, Behringer Harvard REITs,
Cornerstone Core Properties REIT, and Wells REITs.

K&T, an experienced, qualified and nationally recognized
securities litigation law firm, practices exclusively in the field
of securities arbitration and litigation.  It continues its
representation of investors throughout the world in securities
arbitration and litigation matters against major Wall Street
brokerage firms.


DELTA PETROLEUM: Files Amended Chapter 11 Reorganization Plan
-------------------------------------------------------------
BankruptcyData.com reports that Delta Petroleum filed with the
U.S. Bankruptcy Court an Amended Chapter 11 Plan of Reorganization
and related Disclosure Statement.

"The Plan allows the Debtors to deleverage their balance sheets
through their agreement with the Plan Sponsor to form a new
limited liability company with assets contributed by the Plan
Sponsor and the Debtors, including each party's oil and gas,
surface real estate, and related assets located in Garfield and
Mesa Counties, Colorado. Reorganized Delta will retain (i) a
33.34% interest in the Joint Venture Company, and (ii) $75 million
in Cash, subject to certain adjustments set forth in the
Contribution Agreement, drawn from a senior secured term loan
credit facility obtained by the Plan Sponsor on behalf of the
Joint Venture Company Approximately $75,000,000 in proceeds from
the JV Company Credit Facility will be applied, along with certain
other funds)and Holders of General Unsecured Claims who choose
either affirmatively or by default to receive 15% of the Allowed
amount of their General Unsecured Claim in Cash. To the extent
that the $75 million is not enough to repay the DIP Facility
Claims in full on the Effective Date, the Debtors may enter into
an Exit Loan facility to repay the DIP Facility Claims in full.
Precise sources and uses of the approximately $75 million in Cash
will depend on the amount of Allowed Administrative Expense
Claims. The Plan further provides that the Holders of General
Unsecured Claims and Noteholder Claims will receive their Pro Rata
shares of Reorganized Delta's New Common Stock (and in the case of
Holders of Noteholder Claims, any distribution that such Holder is
entitled to receive from Debtors other than Delta) in full
satisfaction of their Claims, although unless Holders of General
Unsecured Claims elect to receive New Common Stock, they will
instead receive Cash equal to 15% of the Allowed amount of their
Claims on the Effective Date as the default option. Holders of
General Unsecured Claims against Delta should be aware of certain
risks relating to their treatment under the Plan. First, the
Debtors are not representing that the 15% cash option is
equivalent in value to the New Common Stock of Reorganized Delta.
The Debtors believe that fifteen cents on the dollar could be
substantially less than the return implied by the receipt of the
New Common Stock of Reorganized Delta, subject to the risk factors
described herein, including the limited liquidity and market for
the New Common Stock. Second, the existing Holders of Noteholder
Claims will own the substantial majority of the New Common Stock
after the Effective Date and as such, will control the operations
and corporate decision-making of Reorganized Delta," according to
the Disclosure Statement obtained by BankruptcyData.com.

                       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' 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.

Laramie Energy II LLC has been approved by the Court to serve as
the sponsor for Delta's reorganization plan.


DESERT GARDENS: Plan to Pay U.S. Bank Debt for 30 Years
-------------------------------------------------------
Desert Gardens IV LLC has filed a first amended disclosure
statement explaining its plan of reorganization dated May 29,
2012.

The Debtor will begin paying US Bank, to the extent its claim is
allowed, interest only payments of $87,125 per month.  These
payments will be from the Debtor's business operations.  After 24
months, the Debtor will begin making monthly principal and
interest payments of $121,017.16 to US Bank.

The General Unsecured Creditors claims will be paid from the
Debtor's operations over five years at $1,466.42 per month.  The
Short Family Trust will be paid over five years at $5,000 per
month.

Desert Gardens Mini Storage will be paid after all other creditors
are paid.

The Reorganized Debtor will retain its current management team on
the terms and conditions of the management agreement presently in
place.

The Debtor said its operations are being maintained by experienced
and competent management team.  Oliva, the managing member of the
Debtor, is the chief operating officer of the properties.  She is
assisted by Keri Kellums, the financial manager and comptroller of
the Debtor.  The management team also includes Karyn Oliver,
Miriam Toquillos, Melanie Garner, Beth Hedlund and Hector
Dominquez.

                      About Desert Gardens IV

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

Desert Gardens IV filed a Chapter 11 petition (Bankr. D. Ariz.
Case No. 11-31061) on Nov. 4, 2011, in Phoenix.  Jennings, Strouss
& Salmon, P.L.C., serves as the Debtor's counsel.  Sierra
Consulting Group, LLC, is the financial advisor.  The Debtor
disclosed $16.14 million in assets and $27.14 million in
liabilities in its schedules.

The U.S. Trustee has not yet appointed a creditors committee in
the Debtor's case because an insufficient number of persons
holding unsecured claims against the Debtor have expressed
interest in serving on a committee.


DEWEY & LEBOEUF: Trustee Objects to Some Advisers Hiring
--------------------------------------------------------
Amanda Bransford at Bankruptcy Law360 reports that the U.S.
trustee in Dewey & LeBoeuf LLP's Chapter 11 proceedings told a New
York bankruptcy judge Friday that she objects to some of the firms
Dewey wants to hire because of concerns the work they perform may
be redundant and they may have conflicts of interest.

U.S. Trustee Tracy Hope Davis objected to Dewey's applications to
retain Proskauer Rose LLP as special employment and litigation
counsel and Keightley & Ashner LLP as special pension benefits
counsel in addition to debtors' counsel Togut Segal & Segal LLP,
according to Bankruptcy Law360.

                        About Dewey & LeBoeuf

New York-based law firm Dewey & LeBoeuf LLP sought Chapter 11
bankruptcy (Bankr. S.D.N.Y. Case No. 12-12321) to complete the
wind-down of its operations.  The firm had struggled with high
debt and partner defections.  Dewey disclosed debt of $245 million
and assets of $193 million in its chapter 11 filing late evening
on May 29, 2012.

Dewey & LeBoeuf was formed by the 2007 merger of Dewey Ballantine
LLP and LeBoeuf, Lamb, Greene & MacRae LLP.  At its peak, Dewey
employed about 2,000 people with 1,300 lawyers in 25 offices
across the globe.  When it filed for bankruptcy, only 150
employees were left to complete the wind-down of the business.

Dewey's offices in Hong Kong and Beijing are being wound down.
The partners of the separate partnership in England are in process
of winding down the business in London and Paris, and
administration proceedings in England were commenced May 28.  All
lawyers in the Madrid and Brussels offices have departed. Nearly
all of the lawyers and staff of the Frankfurt office have
departed, and the remaining personnel are preparing for the
closure.  The firm's office in Sao Paulo, Brazil, is being
prepared for closure and the liquidation of the firm's local
affiliate.  The partners of the firm in the Johannesburg office,
South Africa, are planning to wind down the practice.

The firm's ownership interest in its practice in Warsaw, Poland,
was sold to the firm of Greenberg Traurig PA on May 11 for $6
million.  The Pension benefit Guaranty Corp. took $2 million of
the proceeds as part of a settlement.

Judge Martin Glenn oversees the case.  Albert Togut, Esq., at
Togut, Segal & Segal LLP, represents the Debtor.  Epiq Bankruptcy
Solutions LLC serves as claims and notice agent.  The petition was
signed by Jonathan A. Mitchell, chief restructuring officer.

JPMorgan Chase Bank, N.A., as Revolver Agent on behalf of the
lenders under the Revolver Agreement, hired Kramer Levin Naftalis
& Frankel LLP.  JPMorgan, as Collateral Agent for the Revolver
Lenders and the Noteholders, hired FTI Consulting and Gulf
Atlantic Capital, as financial advisors.  The Noteholders hired
Bingham McCutchen LLP as counsel.

The U.S. Trustee formed two committees -- one to represent
unsecured creditors and the second to represent former Dewey
partners.  The creditors committee hired Brown Rudnick LLP led by
Edward S. Weisfelner, Esq., as counsel.  The Former Partners hired
Tracy L. Klestadt, Esq., and Sean C. Southard, Esq., at Klestadt &
Winters, LLP, as counsel.

Dewey & LeBoeuf has won Court authority to use lenders' cash
collateral through July 31, 2012.


DIALOGIC INC: Fails to Comply with NASDAQ's Market Value Rule
-------------------------------------------------------------
Dialogic Inc. received a deficiency letter from the Listing
Qualifications Department of The NASDAQ Stock Market, notifying it
that, for the last 30 consecutive business days, the market value
of the Company's publicly held shares has been below the minimum
$15.0 million requirement for continued listing on The NASDAQ
Global Market pursuant to Listing Rule 5450(b)(3)(C).

In accordance with Listing Rule 5810(c)(3)(D), the Company has
been given 180 calendar days, or until Dec. 24, 2012, to regain
compliance with the Market Value Rule.  If at any time before
Dec. 24, 2012, the market value of the Company's publicly held
shares closes at $15.0 million or more for a minimum of 10
consecutive business days as required under Listing Rule
5810(c)(3)(D), the Staff will provide written notification to the
Company that it complies with the Market Value Rule.

If the Company does not regain compliance with the Market Value
Rule by Dec. 24, 2012, the Staff will provide written notification
to the Company that its common stock is subject to delisting.  At
that time, the Company may either apply for listing on The NASDAQ
Capital Market, provided the Company meets the initial inclusion
and continued listing requirements of that market as set forth in
Listing Rule 5505, or appeal the Staff's delisting determination
to a Hearings Panel.  The Company would remain listed pending the
Panel's decision.  There can be no assurance that, if the Company
does appeal the delisting determination by the Staff to the Panel,
such appeal would be successful.

                          About Dialogic

Milpitas, Calif.-based Dialogic Inc. provides communications
platforms and technology that enable developers and service
providers to build and deploy innovative applications without
concern for the complexities of the communication medium or
network.

The Company reported a net loss of $54.81 million in 2011,
compared with a net loss of $46.71 million in 2010.

The Company's balance sheet at March 31, 2012, showed
$155.66 million in total assets, $185.24 million in total
liabilities, and a $29.58 million total stockholders' deficit.

                        Bankruptcy Warning

The Company said in its 2011 annual report that in the event of an
acceleration of the Company's obligations under the Term Loan
Agreement or Revolving Credit Agreement and its failure to pay the
amounts that would then become due, the Revolving Credit Lender or
Term Lenders could seek to foreclose on the Company's assets.  As
a result of this, or if the Company's stockholders do not approve
the Private Placement and the Notes become due and payable, the
Company would likely need to seek protection under the provisions
of the U.S. Bankruptcy Code or the Company's affiliates might be
required to seek protection under the provisions of applicable
bankruptcy codes.  In that event, the Company could seek to
reorganize its business, or the Company or a trustee appointed by
the court could be required to liquidate the Company's assets.


DYNEGY HOLDINGS: U.S. Trustee Objects to Merger
-----------------------------------------------
BankruptcyData.com reports that the U.S. Trustee assigned to the
Dynegy Holdings case filed with the U.S. Bankruptcy Court an
objection to the Debtors' motion for an order authorizing the
merger of Dynegy Holdings into Dynegy Inc.

The Trustee asserts, "Until such time as the Debtors and Dynegy
meet their burden to demonstrate that the proposed mechanism for
effectuating the merger is consistent with the provisions of the
Bankruptcy Code and contains a sufficient factual basis, the
Merger Motion should be denied." The Trustee also filed objection
to the Debtors' Disclosure Statement related to the Modified Third
Amended Chapter 11 Plan. This objection explains, "The United
States Trustee objects to the Amended Motion because the
Disclosure Statement does not provide adequate information
concerning the Plan to creditors whose votes will be solicited, as
required by Section 1125 of the Bankruptcy Code."

The Trustee identifies nine separate areas in the Disclosure
Statement lacking adequate information.

                          About Dynegy Inc.

Through its subsidiaries, Houston, Texas-based Dynegy Inc.
(NYSE: DYN) -- http://www.dynegy.com/-- produces and sells
electric energy, capacity and ancillary services in key U.S.
markets.  The power generation portfolio consists of approximately
12,200 megawatts of baseload, intermediate and peaking power
plants fueled by a mix of natural gas, coal and fuel oil.

In August, Dynegy implemented an internal restructuring that
created two units, one owning eight primarily natural gas-fired
power generation facilities and another owning six coal-fired
plants.

Dynegy missed a $43.8 million interest payment Nov. 1, 2011, and
said it was discussing options for managing its debt load with
certain bondholders.

Dynegy Holdings LLC and four other affiliates of Dynegy Inc.
sought Chapter 11 bankruptcy protection (Bankr. S.D.N.Y. Lead Case
No. 11-38111) Nov. 7 to implement an agreement with a
group of investors holding more than $1.4 billion of senior notes
issued by Dynegy's direct wholly-owned subsidiary, Dynegy
Holdings, regarding a framework for the consensual restructuring
of more than $4.0 billion of obligations owed by DH.  If this
restructuring support agreement is successfully implemented, it
will significantly reduce the amount of debt on the Company's
consolidated balance sheet.

Dynegy Holdings disclosed assets of $13.77 billion and debt of
$6.18 billion, while Roseton LLC and Dynegy Danskammer LLC each
estimated $100 million to $500 million in assets and debt.

Dynegy Holdings and its affiliated debtor-entities are represented
in the Chapter 11 proceedings by Sidley Austin LLP as their
reorganization counsel.  Dynegy and its other subsidiaries are
represented by White & Case LLP, who is also special counsel to
the Debtor Entities with respect to the Roseton and Danskammer
lease rejection issues.

Dynegy was advised by Lazard Freres & Co. LLC and the Debtor
Entities' financial advisor is FTI Consulting.

The Official Committee of Unsecured Creditors has tapped Akin Gump
Strauss Hauer & Feld LLP as counsel nunc pro tunc to November 16,
2011.


EAST COAST DIVERSIFIED: Posts $754,600 Net Loss in Q1 2012
----------------------------------------------------------
East Coast Diversified Corporation filed its quarterly report on
Form 10-Q, reporting a net loss of $754,574 on $450,494 of
revenues for the three months ended March 31, 2012, compared with
a net loss of $237,610 on $164,078 of revenues for the
corresponding period last year.

The Company's balance sheet at March 31, 2012, showed $2,384,565
in total assets, $3,674,048 in total liabilities, contingent
acquisition liabilities of $1,104,973, and a stockholders' deficit
of $2,394,456.

As reported in the TCR on April 20, 2012, Drake & Klein CPAs, in
Clearwater, Fla., expressed substantial doubt about East Coast
Diversified's ability to continue as a going concern, following
the Company's results for the fiscal year ended Dec. 31, 2011.
The independent auditors noted that the Company has not generated
revenue and has not established operations.

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

                       http://is.gd/ElVTWe

East Coast Diversified Corporation, headquartered in Marietta,
Georgia, through its majority owned subsidiary, EarthSearch
Communications International, Inc., offers a portfolio of GPS
devices, RFID interrogators, integrated GPS/RFID technologies and
Tag designs.


EASTMAN KODAK: Retiree Committee Wants to Remove Cap on Fees
------------------------------------------------------------
The committee representing Eastman Kodak Co.'s retired workers is
asking the Bankruptcy Court to remove the cap on fees that may be
paid to its lawyers and other advisers so that it could carry out
its duties to approximately 56,000 retired Kodak workers.

The decision handed down by Judge Allan Gropper earlier this year
approved an initial monthly fee cap of $50,000 for the retiree
committee's lawyers and other bankruptcy professionals.  But it
would increase to $100,000 per month after the committee receives
a notice of Eastman Kodak's proposal to modify or terminate the
medical benefits, and $175,000 per month after it receives a
written proposal from the company.

"The arbitrary limitation imposed on the retiree committee's
professional fees will make it impossible for the retiree
committee to receive adequate representation, given the magnitude
of these cases," Andrew Silfen, Esq., at Arent Fox LLP, in New
York, said in court papers.

Mr. Silfen also complained that the court order seems to suggest
that the retiree committee's lawyers and advisers are permitted
only to "monitor" the bankruptcy cases.  He asked Judge Gropper to
clarify that his prior decision does not limit or restrict the
scope of the retiree committee's duties.

A court hearing to consider the motion is scheduled for July 18.
Objections are due by July 11.

                       About Eastman Kodak

Rochester, New York-based Eastman Kodak Company and its U.S.
subsidiaries on Jan. 19, 2012, filed voluntarily Chapter 11
petitions (Bankr. S.D.N.Y. Lead Case No. 12-10202) in Manhattan.
Subsidiaries outside of the U.S. were not included in the filing
and are expected to continue to operate as usual.

Kodak, founded in 1880 by George Eastman, was once the world's
leading producer of film and cameras.  Kodak sought bankruptcy
protection amid near-term liquidity issues brought about by
steeper-than-expected declines in Kodak's historically profitable
traditional businesses, and cash flow from the licensing and sale
of intellectual property being delayed due to litigation tactics
employed by a small number of infringing technology companies with
strong balance sheets and an awareness of Kodak's liquidity
challenges.

In recent years, Kodak has been working to transform itself from a
business primarily based on film and consumer photography to a
smaller business with a digital growth strategy focused on the
commercialization of proprietary digital imaging and printing
technologies.  Kodak has 8,900 patent and trademark registrations
and applications in the United States, as well as 13,100 foreign
patents and trademark registrations or pending registration in
roughly 160 countries.

Kodak disclosed $5.10 billion in assets and $6.75 billion in
liabilities as of Sept. 30, 2011.  The net book value of all
assets located outside the United States as of Dec. 31, 2011 is
$13.5 million.

Attorneys at Sullivan & Cromwell LLP and Young Conaway Stargatt &
Taylor, LLP, serve as counsel to the Debtors.  FTI Consulting,
Inc., is the restructuring advisor.   Lazard Freres & Co. LLC, is
the investment banker.   Kurtzman Carson Consultants LLC is the
claims agent.

The Official Committee of Unsecured Creditors has tapped
Milbank, Tweed, Hadley & McCloy LLP, as its bankruptcy counsel.

Michael S. Stamer, Esq., David H. Botter, Esq., and Abid Qureshi,
Esq., at Akin Gump Strauss Hauer & Feld LLP, represent the
Unofficial Second Lien Noteholders Committee.

Robert J. Stark, Esq., Andrew Dash, Esq., and Neal A. D'Amato,
Esq., at Brown Rudnick LLP, represent Greywolf Capital Partners
II; Greywolf Capital Overseas Master Fund; Richard Katz, Kenneth
S. Grossman; and Paul Martin.


EASTMAN KODAK: Shares Documents to Secured Debt Holders
-------------------------------------------------------
Eastman Kodak Co. and the committee representing the company's
secured debt holders inked an agreement for the turnover of
documents.

Earlier, the debt holders, through their legal counsel Akin Gump
Strauss Hauer & Feld LLP, filed a motion to compel Eastman Kodak
to turn over the documents after the company allegedly refused to
do so.  They also asked for permission to investigate some members
of the company's management team.

The documents are related to the intellectual property portfolio
as well as the financial health of Eastman Kodak and its
affiliated debtors.  The group had said it needs to review the
documents in light of a recent decision from the U.S.
International Trade Commission finding one of Eastman Kodak's
most valuable patents as invalid.

Under the terms of the deal, the debt holders agreed to withdraw
their motion in exchange for the turnover of the documents.  The
group's advisers are also permitted to disclose the information
in the documents with the special situations group of UBS
Securities LLC.

A copy of the agreement is available without charge at
http://bankrupt.com/misc/Kodak_StipSecuredDebtHolders.pdf

                       About Eastman Kodak

Rochester, New York-based Eastman Kodak Company and its U.S.
subsidiaries on Jan. 19, 2012, filed voluntarily Chapter 11
petitions (Bankr. S.D.N.Y. Lead Case No. 12-10202) in Manhattan.
Subsidiaries outside of the U.S. were not included in the filing
and are expected to continue to operate as usual.

Kodak, founded in 1880 by George Eastman, was once the world's
leading producer of film and cameras.  Kodak sought bankruptcy
protection amid near-term liquidity issues brought about by
steeper-than-expected declines in Kodak's historically profitable
traditional businesses, and cash flow from the licensing and sale
of intellectual property being delayed due to litigation tactics
employed by a small number of infringing technology companies with
strong balance sheets and an awareness of Kodak's liquidity
challenges.

In recent years, Kodak has been working to transform itself from a
business primarily based on film and consumer photography to a
smaller business with a digital growth strategy focused on the
commercialization of proprietary digital imaging and printing
technologies.  Kodak has 8,900 patent and trademark registrations
and applications in the United States, as well as 13,100 foreign
patents and trademark registrations or pending registration in
roughly 160 countries.

Kodak disclosed $5.10 billion in assets and $6.75 billion in
liabilities as of Sept. 30, 2011.  The net book value of all
assets located outside the United States as of Dec. 31, 2011 is
$13.5 million.

Attorneys at Sullivan & Cromwell LLP and Young Conaway Stargatt &
Taylor, LLP, serve as counsel to the Debtors.  FTI Consulting,
Inc., is the restructuring advisor.   Lazard Freres & Co. LLC, is
the investment banker.   Kurtzman Carson Consultants LLC is the
claims agent.

The Official Committee of Unsecured Creditors has tapped
Milbank, Tweed, Hadley & McCloy LLP, as its bankruptcy counsel.

Michael S. Stamer, Esq., David H. Botter, Esq., and Abid Qureshi,
Esq., at Akin Gump Strauss Hauer & Feld LLP, represent the
Unofficial Second Lien Noteholders Committee.

Robert J. Stark, Esq., Andrew Dash, Esq., and Neal A. D'Amato,
Esq., at Brown Rudnick LLP, represent Greywolf Capital Partners
II; Greywolf Capital Overseas Master Fund; Richard Katz, Kenneth
S. Grossman; and Paul Martin.


EASTMAN KODAK: Unsecured Noteholders Want Financials Made Public
----------------------------------------------------------------
A group of Eastman Kodak Co.'s unsecured debt holders is seeking
public disclosure of information concerning the company's
financial health.

In court papers, the group demanded Eastman Kodak to publicly
disclose information including the most recent consolidated
balance sheet of the company and its affiliated debtors, and a
detailed description of their other debt.  It also wants public
disclosure of Kodak International Finance Ltd.'s balance sheet.

The group's lawyer, Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel LLP, in New York, said the information should
be made publicly available since it has "direct bearing on the
financial condition" of Eastman Kodak and the "likely recovery to
general unsecured creditors."

The lawyer further said none of the information requested is
"proprietary" such that its disclosure would be damaging to
Eastman Kodak's estate.

The group is also demanding access to information already
disclosed to or that will be provided to the advisers of Eastman
Kodak's secured debt holders regarding the company's prospects
for a successful sale of its intellectual property portfolio.

                       About Eastman Kodak

Rochester, New York-based Eastman Kodak Company and its U.S.
subsidiaries on Jan. 19, 2012, filed voluntarily Chapter 11
petitions (Bankr. S.D.N.Y. Lead Case No. 12-10202) in Manhattan.
Subsidiaries outside of the U.S. were not included in the filing
and are expected to continue to operate as usual.

Kodak, founded in 1880 by George Eastman, was once the world's
leading producer of film and cameras.  Kodak sought bankruptcy
protection amid near-term liquidity issues brought about by
steeper-than-expected declines in Kodak's historically profitable
traditional businesses, and cash flow from the licensing and sale
of intellectual property being delayed due to litigation tactics
employed by a small number of infringing technology companies with
strong balance sheets and an awareness of Kodak's liquidity
challenges.

In recent years, Kodak has been working to transform itself from a
business primarily based on film and consumer photography to a
smaller business with a digital growth strategy focused on the
commercialization of proprietary digital imaging and printing
technologies.  Kodak has 8,900 patent and trademark registrations
and applications in the United States, as well as 13,100 foreign
patents and trademark registrations or pending registration in
roughly 160 countries.

Kodak disclosed $5.10 billion in assets and $6.75 billion in
liabilities as of Sept. 30, 2011.  The net book value of all
assets located outside the United States as of Dec. 31, 2011 is
$13.5 million.

Attorneys at Sullivan & Cromwell LLP and Young Conaway Stargatt &
Taylor, LLP, serve as counsel to the Debtors.  FTI Consulting,
Inc., is the restructuring advisor.   Lazard Freres & Co. LLC, is
the investment banker.   Kurtzman Carson Consultants LLC is the
claims agent.

The Official Committee of Unsecured Creditors has tapped
Milbank, Tweed, Hadley & McCloy LLP, as its bankruptcy counsel.

Michael S. Stamer, Esq., David H. Botter, Esq., and Abid Qureshi,
Esq., at Akin Gump Strauss Hauer & Feld LLP, represent the
Unofficial Second Lien Noteholders Committee.

Robert J. Stark, Esq., Andrew Dash, Esq., and Neal A. D'Amato,
Esq., at Brown Rudnick LLP, represent Greywolf Capital Partners
II; Greywolf Capital Overseas Master Fund; Richard Katz, Kenneth
S. Grossman; and Paul Martin.


EASTMAN KODAK: Retiree Panel Proposes Zolfo as Fin'l Adviser
------------------------------------------------------------
The official committee of retired Eastman Kodak Co. employees
sought the Court's authority to hire Zolfo Cooper, LLC, as its
bankruptcy consultant and financial adviser.

The retiree committee tapped the firm to review the business
plans and financial statements of Eastman Kodak, and to assist
the committee in examining any retiree benefit modification
proposed by the company.  Zolfo Cooper will also participate in
meetings and negotiations with Eastman Kodak and its advisers,
according to court papers.

Zolfo Cooper will be paid for its services on an hourly basis and
will be reimbursed for its expenses.  The hourly rates range from
$775 to $825 for managing directors, $230 to $695 for professional
staff, and $55 to $295 for support personnel.

In an affidavit, David MacGreevey, senior director of Zolfo
Cooper, disclosed that the firm does not hold or represent
interest adverse to Eastman Kodak.

A court hearing to consider approval of the application is
scheduled for July 18.  Objections are due by July 11.

                       About Eastman Kodak

Rochester, New York-based Eastman Kodak Company and its U.S.
subsidiaries on Jan. 19, 2012, filed voluntarily Chapter 11
petitions (Bankr. S.D.N.Y. Lead Case No. 12-10202) in Manhattan.
Subsidiaries outside of the U.S. were not included in the filing
and are expected to continue to operate as usual.

Kodak, founded in 1880 by George Eastman, was once the world's
leading producer of film and cameras.  Kodak sought bankruptcy
protection amid near-term liquidity issues brought about by
steeper-than-expected declines in Kodak's historically profitable
traditional businesses, and cash flow from the licensing and sale
of intellectual property being delayed due to litigation tactics
employed by a small number of infringing technology companies with
strong balance sheets and an awareness of Kodak's liquidity
challenges.

In recent years, Kodak has been working to transform itself from a
business primarily based on film and consumer photography to a
smaller business with a digital growth strategy focused on the
commercialization of proprietary digital imaging and printing
technologies.  Kodak has 8,900 patent and trademark registrations
and applications in the United States, as well as 13,100 foreign
patents and trademark registrations or pending registration in
roughly 160 countries.

Kodak disclosed $5.10 billion in assets and $6.75 billion in
liabilities as of Sept. 30, 2011.  The net book value of all
assets located outside the United States as of Dec. 31, 2011 is
$13.5 million.

Attorneys at Sullivan & Cromwell LLP and Young Conaway Stargatt &
Taylor, LLP, serve as counsel to the Debtors.  FTI Consulting,
Inc., is the restructuring advisor.   Lazard Freres & Co. LLC, is
the investment banker.   Kurtzman Carson Consultants LLC is the
claims agent.

The Official Committee of Unsecured Creditors has tapped
Milbank, Tweed, Hadley & McCloy LLP, as its bankruptcy counsel.

Michael S. Stamer, Esq., David H. Botter, Esq., and Abid Qureshi,
Esq., at Akin Gump Strauss Hauer & Feld LLP, represent the
Unofficial Second Lien Noteholders Committee.

Robert J. Stark, Esq., Andrew Dash, Esq., and Neal A. D'Amato,
Esq., at Brown Rudnick LLP, represent Greywolf Capital Partners
II; Greywolf Capital Overseas Master Fund; Richard Katz, Kenneth
S. Grossman; and Paul Martin.


EMPRESAS MARTINEZ: Puerto Rico Court Rules on Chevron Funds
-----------------------------------------------------------
In the case, EMPRESAS MARTINEZ VALENTIN CORP., Plaintiff, v.
CHEVRON OF PUERTO RICO, LLC, Defendant(s), Adv. Proc. No. 11-00178
(Bankr. D. P.R.), Bankruptcy Judge Edward A. Godoy ruled that the
motions in compliance with the Court's order to show cause dated
June 15, 2012, filed by Chevron of Puerto Rico, LLC, and the
Debtor do not establish cause for the consignment of funds in the
adversary proceeding with the Court, since the parties agree that
all funds being deposited belong to the Debtor.  Therefore, the
funds shall be returned to Chevron.  To the extent that Chevron
acknowledges that the amounts deposited are owed to the Debtor,
Chevron will make such payments, and any future payments, directly
to the Debtor.  The acceptance of such payments by the Debtor will
not be deemed to constitute a waiver of the Debtor's right to
challenge the amounts owed by Chevron for rent under the lease
agreement.  A copy of the Court's July 2, 2012 Opinion and Order
is available at http://is.gd/9YQBOafrom Leagle.com.

Sabana Grande, Puerto Rico-based Empresas Martinez Valentin, Corp.
-- aka Bronze & Metal Works and Supermercado El Tabonuco -- filed
for Chapter 11 bankruptcy (Bankr. D. P.R. Case No. 11-07018) on
Aug. 19, 2011.  Carmen D. Conde Torres, Esq., at C. Conde &
Associates, serves as the Debtor's counsel.  The Debtor scheduled
$4,256,600 in total assets and $2,442,518 in total liabilities.
The petition was signed by Angel Javier Martinez Valentin,
president.  Mr. Martinez Valentin also filed for Chapter 11
(Bankr. D. P.R. Case No. 11-06321) on July 28, 2011.


EMPRESAS PLAYA: Case Summary & 9 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Empresas Playa Joyuda, Inc.
        dba Perichi's Hotel Restaurant
        HC-02 Box 16310, Joyuda
        Cabo Rojo, PR 00623

Bankruptcy Case No.: 12-05243

Chapter 11 Petition Date: July 1, 2012

Court: United States Bankruptcy Court
       District of Puerto Rico (Ponce)

Judge: Edward A. Godoy

Debtor's Counsel: Angel Miguel Roman Ongay, Esq.
                  B-45 Ext La Concepcion
                  Cabo Rojo, PR 00623
                  Tel: (787) 265-8270
                  E-mail: mitchroman@hotmail.com

Scheduled Assets: $1,973,542

Scheduled Liabilities: $2,567,489

A copy of the Company's list of its nine largest unsecured
creditors filed together with the petition is available for free
at http://bankrupt.com/misc/prb12-05243.pdf

The petition was signed by Julio Perez Perichi, president.


EVA ROMERO: Owner of Humphrey's on the Delta Files for Bankruptcy
-----------------------------------------------------------------
Paul Burgarino at Contra Costa Times reports that a riverfront
restaurant named after a stranded whale has sprung some financial
leaks -- possibly leaving the city out nearly $75,000 in unpaid
rent and utilities.

According to the report, Eva and Gilbert Romero recently filed
Chapter 11 bankruptcy on their properties, which include the
Humphrey's on the Delta restaurant.  The two-decade-old
restaurant, which is still open, is built on Antioch-owned marina
land and pilings.

The report, citing a lease agreement with Antioch, notes Eva
Romero must pay $4,089 in rent a month or 3% of gross receipts,
whichever is greater.  However, the city said in its recent budget
report that she has only paid $1,000 since June 2011.

According to court documents, Antioch found out from Wells Fargo
Bank in March that Ms. Romero defaulted on her loan and a
foreclosure sale had been scheduled for June 1.  The Romeros filed
bankruptcy the day before the scheduled sale.  Bankruptcy filings
show near $150,000 in unsecured claims from credit lenders, close
to $70,000 in unsecured legal claims and $20,000 in utility
claims.

The report adds Antioch plans to file a claim for the $48,068 it
is owed in bankruptcy court, but is uncertain how much, if any,
it will recover.  Antioch has not heard from Ms. Romero or her
attorney about the status of the bankruptcy and a possible sale of
the restaurant, City Attorney Lynn Tracy Nerland said.

According to the report, in April, the City Council was approached
by Samir Rohayem, a potential buyer for the restaurant, asking the
city to delay taking legal action against Ms. Romero for not
paying rent.  Ms. Romero declined to comment for this story.

The report says family friends point out the Romeros sold the
restaurant a few years ago, though she carried the burden of the
business debt.  She took over the restaurant over last year when
the new owner defaulted and has been struggling to catch up
financially, as it was behind on lot of bills with vendors and
suppliers.

The report adds Antioch's Marina Fund is projected to have enough
money to cover operations the next two years.  However, city
officials say it is vital to be able to collect rent going forward
to help avoid having to subsidize the restaurant in the future.

The restaurant, built in 1990, is named after the misguided whale
that found its way into the Delta in 1986.  Ms. Romero purchased
the restaurant from original owner Bill Peluso in early 1995.


EXECUTIVE CENTER: Has Deal With Platinum Courtyard on Cash Use
--------------------------------------------------------------
The Bankruptcy Court signed off a stipulation that grants
Executive Center of Simi Valley LLC, on a final basis, to use cash
collateral of Platinum Courtyard, LLC.  The Stipulation provides
that Platinum Courtyard will be granted replacement lien that will
only attach to post-petition rents from 30077 and 30101 Agoura
Court, in Agoura Hills, California, which properties are subject
to Platinum's prepetition assignment of rents.

Platinum Courtyard initially objected to any attempt by Executive
Center of Simi Valley to use cash collateral.  Platinum Courtyard
said the Debtor owes it at least $13,893,280 as of Sept. 21, 2011
plus accruing default interest, fees and costs.

Executive Center of Simi Valley LLC, which operates the Agoura
Hills Corporate Center, filed for Chapter 11 (Bankr. C.D. Calif.
Case No. 12-11527) on Feb. 16, 2012.  Judge Victoria S. Kaufman
presides over the case.  Janet A. Lawson, Esq., in Ventura,
California, serves as the Debtor's counsel.  The Debtor scheduled
$29,576,254 in assets and $19,093,382 in debts.  The petition was
signed by Arnold A. Klein, managing partner.

Platinum Courtyard is represented in the case by:

          Lewis R. Landau, Esq.
          DYKEMA GOSSETT LLP
          333 South Grand Avenue, Suite 2100
          Los Angeles, CA 90071
          Telephone: (213) 457-1800
          Facsimile: (213) 457-1850
          E-mail: llandau@dykema.com


FLETCHER INT'L: Sues Bermuda Liquidators in Bankruptcy Court
------------------------------------------------------------
Fletcher International, Ltd., on Monday filed a complaint in
Bankruptcy Court against the Bermuda liquidators of its affiliated
hedge funds seeking temporary, preliminary and permanent
injunctive relief.  Fletcher said the defendants are seeking
improperly to exercise control over property of the Debtor's
estate, including control over all of the Debtor's assets for
purposes of complete liquidation, in violation of the automatic
stay provisions of the Bankruptcy Code.

The complaint named as defendants:

     -- Robin Lee McMahon and Roy Bailey, the Joint Official
        Liquidators of:

        (a) Fletcher Income Arbitrage Fund In Voluntary
            Liquidation, a Cayman Islands corporation, which owns
            83% of the common shares and is a majority shareholder
            of Fletcher International;

        (b) FIA Leveraged Fund-In Official Liquidation, a
            Cayman Islands corporation; and

     -- Tammy Fu and Jenna Wise, the Joint Official Liquidators of
        Fletcher Fixed Income Alpha Fund Ltd.-In Official
        Liquidation, a Cayman Islands corporation

Fletcher Asset Management was founded in 1991.  During its initial
four years, FAM operated as a broker dealer trading various debt
and equity securities and making long-term equity investments.
Then, in 1995, FAM began creating and managing a family of private
investment funds.

The Debtor is a master fund in the Fletcher Fund structure.  As a
master fund, it engages in proprietary trading of various
financial instruments, including complex, long-term, illiquid
investments.

The Debtor is directly owned by Fletcher Income Arbitrage Fund and
Fletcher International Inc., which own roughly 83% and 17% of the
Debtor's common shares, respectively.  Arbitrage's direct parent
entities are Fletcher Fixed Income Alpha Fund and FIA Leveraged
Fund, both of which are incorporated in the Cayman Islands and are
subject to liquidation proceedings in that jurisdiction, and which
own roughly 76% and 22% of Arbitrage's common stock, respectively.
The Debtor currently has a single subsidiary, The Aesop Fund Ltd.

According to The Wall Street Journal's Steve Eder and Josh
Barbanel, the hedge fund is managed by the investment firm of
Alphonse "Buddy" Fletcher Jr.

                   About Fletcher International

Fletcher International, Ltd., filed a bare-bones Chapter 11
petition (Bankr. S.D.N.Y. Case No. 12-12796) on June 29, 2012, in
Manhattan.  The Bermuda exempted company estimated assets and
debts of $10 million to $50 million.  The bankruptcy documents
were signed by its president and director, Floyd Saunders.

David R. Hurst, Esq., at Young Conaway Stargatt & Taylor, LLP, in
New York, serves as counsel.


FUELSTREAM INC: Posts $95,900 Net Loss in Q1 2012
-------------------------------------------------
Fuelstream, Inc., formerly SportsNuts, Inc., filed its quarterly
report on Form 10-Q, reporting a net loss of $95,890 for the three
months ended March 31, 2012, compared with a net loss of $86,718
for the same period last year.  The Company generated net revenues
of $-0- during the three months ended March 31, 2012, and 2011.

The Company's balance sheet at March 31, 2012, showed $3,580,067
in total assets, $4,575,398 in total liabilities, and a
stockholders' deficit of $995,331.

Morrill & Associates, LLC, in Bountiful, Utah, expressed
substantial doubt about Fuelstream's ability to continue as a
going concern, following the Company's results for the fiscal year
ended Dec. 31, 2011.  The independent auditors noted that the
Company has negative working capital, negative cash flows from
operations and recurring operating losses.

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

                       http://is.gd/qmtwk3

Draper, Utah-based Fuelstream, Inc., is an in-wing and on-location
supplier and distributor of aviation fuel to corporate,
commercial, military, and privately-owned aircraft throughout the
world.  The Company also provides a variety of ground services
either directly or through its affiliates, including concierge
services, passenger andbaggage handling, landing rights,
coordination with local aviation authorities, aircraft maintenance
services, catering, cabin cleaning, customsapprovals, and third-
party invoice reconciliation.  The Company's personnel assist
customers in flight planning and aircraft routing aircraft,
obtaining permits, arranging overflies, and flight follow
services.


FULLER BRUSH: Files Schedules of Assets and Liabilities
-------------------------------------------------------
Fuller Brush Company LLC filed with the Bankruptcy Court for the
Southern District of New York its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets          Liabilities
     ----------------            -----------       -----------
  A. Real Property                        $0
  B. Personal Property           $10,052,589
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                $31,004,196
  E. Creditors Holding
     Unsecured Priority
     Claims                                           $234,993
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                         $2,969,195
                                 -----------      ------------
        TOTAL                    $10,052,589       $34,208,384

                  About The Fuller Brush Company

The Fuller Brush Company -- http://www.fuller.com/-- sells
branded and private label products for personal care, commercial
and household cleaning and has a current catalog of 2,000 cleaning
products.  Some of Fuller's retail partners include Home Trends,
Bi-Mart, Byerly's, Lunds, Home Depot, Do-It-Best, Primetime
Solutions, Vermont Country Store and Starcrest.

Founded in 1906 and based in Great Bend, Kansas, The Fuller Brush
Company, Inc., and its parent, CPAC, Inc., filed for Chapter 11
protection (Bankr. S.D.N.Y. Case Nos. 12-10714 and 12-10715) in
Manhattan on Feb. 21, 2012.  Fuller Brush filed for bankruptcy
five years after the company was taken over by private equity firm
Buckingham Capital Partners.

Fuller said it will be business as usual while undergoing Chapter
11 restructuring.  But it said that while in reorganization, it
intends to trim about half of the current catalog of cleaning
products.

Fuller, which has 180 employees as of the Chapter 11 filing,
disclosed $22.9 million in assets and $50.9 million in debt.

Herrick Feinstein LP is the Debtor's bankruptcy counsel.  The
official committee of unsecured creditors tapped Kelley Drye &
Warren LLP as counsel.

The reorganization is being financed with a $5 million loan from
an affiliate of Victory Park Capital Advisors LLC, the secured
lender owed $22.7 million that plans to buy the business
in exchange for debt.


GERALD ROBERTSON: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Gerald Robertson Enterprises, Inc.
        aka Robertson Enterprises
        3171 County Highway One
        Oneonta, AL 35121

Bankruptcy Case No.: 12-03098

Chapter 11 Petition Date: July 2, 2012

Court: United States Bankruptcy Court
       Northern District of Alabama (Birmingham)

Judge: Tamara O. Mitchell

Debtor's Counsel: Harry P. Long, Esq.
                  THE LAW OFFICE OF HARRY P. LONG, LLC
                  P.O. Box 1468
                  Anniston, AL 36202
                  Tel: (256) 237-3266
                  E-mail: hlonglegal@aol.com

Scheduled Assets: $8,913,000

Scheduled Liabilities: $6,027,967

A copy of the Company's list of its 20 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/alnb12-03098.pdf

The petition was signed by Gerald Robertson, president.


GLOBAL GREEN: K.R. Margetson Raises Going Concern Doubt
-------------------------------------------------------
Global Green Matrix Corp. filed its annual report on Form 20-F for
the fiscal year ended Dec. 31, 2011.

K.R. Margetson Ltd., in Vancouver, Canada, expressed substantial
doubt about Global Green's ability to continue as a going concern.
The independent auditors noted that the Company has suffered
recurring losses from operations and has a net working capital
deficiency.

The Company reported a net loss of C$552,855 in 2011, compared
with a net loss of C$622,344 in 2010.

The Company's balance sheet at Dec. 31, 2011, showed
C$1.12 million in total assets, C$286,997 in total current
liabilities, and stockholders' equity of C$831,876.

A copy of the Form 20-F is available for free at:

                       http://is.gd/9Ihopg


Headquartered in Gabriola, British Columbia, Canada, Global Green
Matrix Corp. Global Green Matrix Corp. (formerly Poly-Pacific
International Inc.) was incorporated under the Alberta Business
Corporations Act on Oct. 25, 1995.  The Company is pursuing
business in eco-friendly solutions to industrial waste by-
products.  Global Green explores and pursues environmentally sound
methods and technologies in waste management and the energy
sector.


GOOD SAM: Commences Offer to Buy $4.9-Mil. 11.50% Senior Notes
--------------------------------------------------------------
Good Sam Enterprises, LLC, commenced an offer to purchase up to
$4,950,000 in principal amount of the Company's outstanding 11.50%
Senior Secured Notes due 2016.  The Offer to Purchase will expire
at 5:00 p.m., New York City time, on July 31, 2012, unless
extended.

The Offer to Purchase is being made pursuant to the terms of the
indenture governing the Notes.  The Indenture requires the Company
to make an offer to purchase Notes for the semi-annual period
ended June 30, 2012, in an amount equal to $5.0 million.

In accordance with the Indenture and subject to the terms and
conditions of the Offer to Purchase, the Company will pay a
purchase price in cash equal to 101% of the principal amount of
Notes validly tendered (and not validly withdrawn) prior to the
Expiration Date that are accepted, plus accrued but unpaid
interest thereon to the settlement date for the Offer to Purchase.
If the aggregate principal amount of Notes validly tendered in the
Offer to Purchase exceeds the Offer Amount, Notes will be accepted
for purchase on a pro rata basis, such that the aggregate purchase
price for the Notes purchased does not exceed the Offer Amount.
Tenders may be validly withdrawn no later than the Expiration
Date.

                       About Affinity Group

Ventura, Calif.-based Affinity Group Holding, Inc., now known as
Good Sam Enterprises, LLC, is a holding company and the direct
parent of Affinity Group, Inc.  The Company is an indirect wholly-
owned subsidiary of AGI Holding Corp, a privately-owned
corporation.  The Company is a member-based direct marketing
organization targeting North American recreational vehicle owners
and outdoor enthusiasts.  The Company operates through three
principal lines of business, consisting of (i) club memberships
and related products and services, (ii) subscription magazines and
other publications including directories, and (iii) specialty
merchandise sold primarily through its 78 Camping World retail
stores, mail order catalogs and the Internet.

The Company's balance sheet at March 31, 2012, showed
$232.60 million in total assets, $486.69 million in total
liabilities, and a $254.09 million total members' deficit.

                           *     *     *

Affinity Group Inc. carries 'B3' long term corporate family and
probability of default ratings, with 'stable' outlook, from
Moody's Investors Service.

As reported in the Troubled Company Reporter on November 9, 2010,
Standard & Poor's Ratings Services assigned Affinity Group Inc.'s
proposed $325 million senior secured notes due 2016 its
preliminary 'B-' issue-level rating.  Following the close of the
proposed transaction, S&P expects to assign a 'B-' corporate
credit rating to Affinity Group Inc., and withdraw S&P's current
'D' corporate credit rating on Affinity Group Holding Inc.  A
portion of the proceeds of the new notes will be used, in
conjunction with cash contributions from Holding's parent, to
repay in full $88 million of senior notes that are currently
outstanding at Holding.

S&P said the expected 'B-'corporate credit rating on Affinity
Group reflects S&P's expectation that, following the proposed
refinancing transaction, adjusted debt leverage will be reduced by
about 1x, the company will not have any meaningful near-term debt
maturities, and the company will generate some discretionary cash
flow (albeit minimal).  Still, credit measures will remain
relatively weak, as adjusted debt leverage will remain above 6.0x
(S&P's operating lease adjustment adds about a turn to leverage),
and S&P expects interest coverage to remain in the low- to mid-
1.0x area over the intermediate term.


GRUBB & ELLIS: Reaches Deal With Workers on 9/11 Lawsuits
---------------------------------------------------------
As widely reported, Grubb & Ellis Co. is asking a bankruptcy judge
to allow workers who were hurt during the cleanup of lower
Manhattan after the Sept. 11, 2001 attacks to pursue their
lawsuits against the company and seek damages from its insurers.

Sindhu Sundar at Bankruptcy Law360 reports in a filing in New York
bankruptcy court, Grubb & Ellis sought to lift the stay on the
plaintiffs' litigation that had gone into effect after the firm's
bankruptcy filing, according to Bankruptcy Law360.

                        About Grubb & Ellis

Grubb & Ellis Company -- http://www.grubb-ellis.com/-- is a
commercial real estate services and property management company
with more than 3,000 employees conducting throughout the United
States and the world.  It is one of the oldest and most recognized
brands in the industry.

Grubb & Ellis and 16 affiliates filed for Chapter 11 bankrutpcy
(Bankr. S.D.N.Y. Lead Case No. 12-10685) on Feb. 21, 2012, to sell
almost all its assets to BGC Partners Inc.  The Santa Ana,
California-based company disclosed $150.16 million in assets and
$167.2 million in liabilities as of Dec. 31, 2011.

Judge Martin Glenn presides over the case.  The Debtors have
engaged Togut, Segal & Segal, LLP as general bankruptcy counsel,
Zuckerman Gore Brandeis & Crossman, LLP, as general corporate
counsel, and Alvarez & Marsal Holdings, LLC, as financial advisor
in the Chapter 11 case.  Kurtzman Carson Consultants is the claims
and notice agent.

BGC Partners, Inc., and its affiliate, BGC Note Acquisition Co.,
L.P., the DIP lender and Prepetition Secured Lender, are
represented in the case by Emanuel C. Grillo, Esq., at Goodwin
Procter LLP.

On March 27, 2012, the Court approved the sale to BCG.  An auction
was cancelled after no rival bids were submitted.  Pursuant to the
term sheet signed by the parties, BGC would acquire the assets for
$30.02 million, consisting of a credit bid the full principal
amount outstanding under the (i) $30 million credit agreement
dated April 15, 2011, with BGC Note, (ii) the amounts drawn under
the $4.8 million facility, and (iii) the cure amounts due to
counterparties.  BGC would also pay $16 million in cash because
the sale was approved by the March 27 deadline.  Otherwise, the
cash component would have been $14 million.

Approval of the sale was simplified when BGC settled with
unsecured creditors by increasing their recovery.

Several parties in interest have taken an appeal from the sale
order.


HAMPTON ROADS: CapGen Capital Owns 19.2% of Shares as of May 21
---------------------------------------------------------------
In an amended Schedule 13D filing with the U.S. Securities and
Exchange Commission, CapGen Capital Group VI LP and its affiliates
disclosed that, as of May 21, 2012, they beneficially own
6,375,584 shares of common stock of Hampton Roads Bankshares,
Inc., representing 19.2% of the shares outstanding.

CapGen Capital previously reported beneficial ownership of
163,563,002 common shares or a 19.3% equity stake.

A copy of the amended filing is available for free at:


                        http://is.gd/uZqiIF

                  About Hampton Roads Bankshares

Hampton Roads Bankshares, Inc. (NASDAQ: HMPR) --
http://www.hamptonroadsbanksharesinc.com/-- is a bank holding
company that was formed in 2001 and is headquartered in Norfolk,
Virginia.  The Company's primary subsidiaries are Bank of Hampton
Roads, which opened for business in 1987, and Shore Bank, which
opened in 1961.  Currently, Bank of Hampton Roads operates twenty-
eight banking offices in the Hampton Roads region of southeastern
Virginia and twenty-four offices in Virginia and North Carolina
doing business as Gateway Bank & Trust Co.  Shore Bank serves the
Eastern Shore of Maryland and Virginia through eight banking
offices and fifteen ATMs.

Effective June 17, 2010, the Company and its banking subsidiary,
Bank of Hampton Roads ("BOHR"), entered into a written agreement
with the Federal Reserve Bank of Richmond and the Bureau of
Financial Institutions of the Virginia State Corporation
Commission.  The Company's other banking subsidiary, Shore Bank,
is not a party to the Written Agreement.

Under the terms of the Written Agreement, among other things, BOHR
agreed to develop and submit for approval plans to (a) strengthen
board oversight of management and BOHR's operations, (b)
strengthen credit risk management policies, (c) improve BOHR's
position with respect to loans, relationships, or other assets in
excess of $2.5 million which are now, or may in the future become,
past due more than 90 days, are on BOHR's problem loan list, or
adversely classified in any report of examination of BOHR, (d)
review and revise, as appropriate, current policy and maintain
sound processes for determining, documenting, and recording an
adequate allowance for loan and lease losses, (e) improve
management of BOHR's liquidity position and funds management
policies, (f) provide contingency planning that accounts for
adverse scenarios and identifies and quantifies available sources
of liquidity for each scenario, (g) reduce the Bank's reliance on
brokered deposits, and (h) improve BOHR's earnings and overall
condition.

The Company reported a net loss of $98 million in 2011, compared
with a net loss of $210.35 million in 2010.

The Company's balance sheet at March 31, 2012, showed $2.13
billion in total assets, $2.02 billion in total liabilities and
$105.29 million in total shareholders' equity.


HAMPTON ROADS: Carlyle Group Has 22.7% Stake as of May 21
---------------------------------------------------------
In an amended Schedule 13D filing with the U.S. Securities and
Exchange Commission, Carlyle Group Management L.L.C. and its
affiliates disclosed that, as of May 21, 2012, they beneficially
own 7,870,693 shares of common stock of Hampton Roads Bankshares,
Inc., representing 22.77% of the shares outstanding.  A copy of
the filing is available for free at http://is.gd/yILt19

                  About Hampton Roads Bankshares

Hampton Roads Bankshares, Inc. (NASDAQ: HMPR) --
http://www.hamptonroadsbanksharesinc.com/-- is a bank holding
company that was formed in 2001 and is headquartered in Norfolk,
Virginia.  The Company's primary subsidiaries are Bank of Hampton
Roads, which opened for business in 1987, and Shore Bank, which
opened in 1961.  Currently, Bank of Hampton Roads operates twenty-
eight banking offices in the Hampton Roads region of southeastern
Virginia and twenty-four offices in Virginia and North Carolina
doing business as Gateway Bank & Trust Co.  Shore Bank serves the
Eastern Shore of Maryland and Virginia through eight banking
offices and fifteen ATMs.

Effective June 17, 2010, the Company and its banking subsidiary,
Bank of Hampton Roads ("BOHR"), entered into a written agreement
with the Federal Reserve Bank of Richmond and the Bureau of
Financial Institutions of the Virginia State Corporation
Commission.  The Company's other banking subsidiary, Shore Bank,
is not a party to the Written Agreement.

Under the terms of the Written Agreement, among other things, BOHR
agreed to develop and submit for approval plans to (a) strengthen
board oversight of management and BOHR's operations, (b)
strengthen credit risk management policies, (c) improve BOHR's
position with respect to loans, relationships, or other assets in
excess of $2.5 million which are now, or may in the future become,
past due more than 90 days, are on BOHR's problem loan list, or
adversely classified in any report of examination of BOHR, (d)
review and revise, as appropriate, current policy and maintain
sound processes for determining, documenting, and recording an
adequate allowance for loan and lease losses, (e) improve
management of BOHR's liquidity position and funds management
policies, (f) provide contingency planning that accounts for
adverse scenarios and identifies and quantifies available sources
of liquidity for each scenario, (g) reduce the Bank's reliance on
brokered deposits, and (h) improve BOHR's earnings and overall
condition.

The Company reported a net loss of $98 million in 2011, compared
with a net loss of $210.35 million in 2010.

The Company's balance sheet at March 31, 2012, showed $2.13
billion in total assets, $2.02 billion in total liabilities and
$105.29 million in total shareholders' equity.


HAWKER BEECHCRAFT: Files Amended Chapter 11 Plan
------------------------------------------------
BankruptcyData.com reports that Hawker Beechcraft Acquisition
Company filed with the U.S. Bankruptcy Court an Amended Chapter 11
Plan and related Disclosure Statement.

"The Plan provides for a comprehensive restructuring of the
Debtors' prepetition obligations, provides for additional
liquidity, preserves the going-concern value of the Debtors'
business and protects the jobs of employees. After a careful
review of their current operations, prospects as an ongoing
business, financial projections and estimated recoveries to
creditors in a liquidation scenario, the Debtors have concluded
that recoveries to the Debtors' stakeholders will be maximized by
the Debtors' continued operation as a going concern. The Debtors
believe that their businesses and assets have significant value
that would not be realized in a liquidation, either in whole or in
substantial part, and that the value of the Debtors' estates is
considerably greater as a going concern....The Debtors are
continuing to evaluate potential sale alternatives and may elect
to incorporate one or more sale or Plan sponsorship transactions
into the Plan if the Debtors conclude that such transaction or
transactions maximize the value for the Debtors' creditors and
stakeholders," according to the Disclosure Statement obtained by
BankruptcyData.com.

                       About Hawker Beechcraft

Hawker Beechcraft Acquisition Company, LLC, headquartered in
Wichita, Kansas, manufactures business jets, turboprops and piston
aircraft for corporations, governments and individuals worldwide.

Hawker Beechcraft reported a net loss of $631.90 million on
$2.43 billion of sales in 2011, compared with a net loss of
$304.30 million on $2.80 billion of sales in 2010.

Hawker Beechcraft Inc. and 17 affiliates filed for Chapter 11
reorganization (Bankr. S.D.N.Y. Lead Case No. 12-11873) on May 3,
2012, having already negotiated a plan that eliminates $2.5
billion in debt and $125 million of annual cash interest expense.

The plan, to be filed by June 30, will give 81.9% of the new stock
to holders of $1.83 billion of secured debt, while 18.9% of the
new shares are for unsecured creditors.  The proposal has support
from 68% of secured creditors and holders of 72.5% of the senior
unsecured notes.

Hawker is 49%-owned by affiliates of Goldman Sachs Group Inc. and
49%-owned by Onex Corp.  The Company's balance sheet at Dec. 31,
2011, showed $2.77 billion in total assets, $3.73 billion in total
liabilities and a $956.90 million total deficit.  Other claims
include pensions underfunded by $493 million.

Hawker's legal representative is Kirkland & Ellis LLP, its
financial advisor is Perella Weinberg Partners LP and its
restructuring advisor is Alvarez & Marsal.  Epiq Bankruptcy
Solutions LLC is the claims and notice agent.

Sidley Austin LLP serves as legal counsel and Houlihan Lokey
Howard & Zukin Capital Inc. serves as financial advisor to the DIP
Agent and the Prepetition Agent.

Wachtell, Lipton, Rosen & Katz represents an ad hoc committee of
senior secured prepetition lenders holding 70% of the loans.

Milbank, Tweed, Hadley & McCloy LLP represents an ad hoc committee
of holders of the 8.500% Senior Fixed Rate Notes due 2015 and
8.875%/9.625% Senior PIK Election Notes due 2015 issued by Hawker
Beechcraft Acquisition Company LLC and Hawker Beechcraft Notes
Company.  The members of the Ad Hoc Committee -- GSO Capital
Partners, L.P. and Tennenbaum Capital Partners, LLC -- hold claims
or manage accounts that hold claims against the Debtors' estates
arising from the purchase of the Senior Notes.  Deutsche Bank
National Trust Company, the indenture trustee for senior fixed
rate notes and the senior PIK-election notes, is represented by
Foley & Lardner LLP.

An Official Committee of Unsecured Creditors appointed in the case
has selected Daniel H. Golden, Esq., and the law firm of Akin Gump
Strauss Hauer & Feld LLP as legal counsel.


HD SUPPLY: Completes Acquisition of Peachtree Business
------------------------------------------------------
HD Supply, Inc., completed its acquisition of Peachtree Business
Products LLC on June 29, 2012.  Headquartered in Marietta, Ga.,
Peachtree Business Products specializes in customizable business
and property marketing supplies, serving residential and
commercial property managers, medical facilities, schools and
universities, churches and funeral homes.

                          About HD Supply

HD Supply, Inc., headquartered in Atlanta, Georgia, is one of the
largest North American wholesale distributors supporting
residential and non-residential construction and to a lesser
extent electrical consumption and repair and remodeling.  HDS also
provides maintenance, repair and operations services.  Its
businesses are organized around three segments: Infrastructure and
Energy; Maintenance, Repair & Improvement; and, Specialty
Construction.  HDS operates through approximately 800 locations
throughout the U.S. and Canada serving contractors, government
entities, maintenance professionals, home builders and
professional businesses.

The Company reported a net loss of $543 million for the year ended
Jan. 29, 2012, a net loss of $619 million for the year ended
Jan. 30, 2011, and a net loss of $514 million on $6.94 billion of
net sales for the year ended Jan. 31, 2010.

The Company's balance sheet at April 29, 2012, showed
$6.32 billion in total assets, $7.10 billion in total liabilities
and a $780 million total stockholders' deficit.

                           *     *     *

HD Supply carries 'Caa2' probability of default rating and
corporate family rating, with negative outlook, from Moody's
Investors Service, and a 'B' corporate credit rating, with
negative outlook, from Standard & Poor's Ratings Services.

In April 2010, when Moody's downgraded the ratings to
'Caa2' from 'Caa1', it said, "The downgrade results from Moody's
views that the construction industry, the main driver of HDS'
revenues, will continue to be weak for the foreseeable future,
pressuring the company's ability to generate meaningful levels of
earnings and free cash flow relative to its debt."


HEALTHWAREHOUSE.COM INC: Marcum LLP Raises Going Concern Doubt
--------------------------------------------------------------
HealthWarehouse.com, Inc., filed on June 22, 2012, its annual
report on Form 10-K for the fiscal year ended Dec. 31, 2011.

Marcum LLP, in New York, N.Y., expressed substantial doubt about
HealthWarehouse.com's ability to continue as a going concern.  The
independent auditors noted that the Company has incurred
significant losses and needs to raise additional funds to meet its
obligations and sustain its operations.

The Company reported a net loss of $5.71 million on $10.36 million
of sales in 2011, compared with a net loss of $3.69 million on
$5.69 million of sales in 2010.

The Company's balance sheet at Dec. 31, 2011, showed $2.67 million
in total assets, $4.96 million in total liabilities, redeemable
preferred stock of $566,394, and a stockholders' deficit of
$2.86 million.

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

                       http://is.gd/jz2cAW

HealthWarehouse.com, Inc., headquartered in Florence, Kentucky, is
a Verified Internet Pharmacy Practice Sites accredited retail
mail-order pharmacy and healthcare e-commerce company that sells
discounted generic and brand name prescription drugs, as well as,
over-the-counter (OTC) medical products.


HEARTHSTONE HOMES: Committee Fails to Block Wells Fargo Loan
------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
case of Hearthstone Homes Inc., failed in its attempt to block
approval of a joint motion by the Chapter 11 Trustee for
Hearthstone Homes, Inc. and Wells Fargo Bank, N.A. for secured
superpriority postpetition financing.

The Court has authorized Randel C. Lewis, the Chapter 11 Trustee,
to borrow $365,000 from Wells Fargo to finance the Chapter 11
Trustee's out-of-pocket expenses, his attorney's and
professionals' fees, and the Trustee's overhead expenses operating
the Debtor's estate.  The loan is to be secured by a lien on all
estate property and claims not subject to liens, and by a senior
lien on all estate property that is subject to a lien.  The
Chapter 11 Trustee also said he needs funding to complete
construction of certain houses.

The Committee, which is fighting survival, alleged that all the
Chapter 11 Trustee has done is to secure, protect and sell assets
of Wells Fargo, and the bank has acquiesced and support the
Trustee's actions.  The Committee said Wells Fargo's first
position with respect to the assets is a determination that is yet
to be made.

The Committee also noted that 40 houses are subject to a sale
agreement with Legacy Homes, which negates any necessity of the
Chapter 11 Trustee incurring further expenses in connection with
maintaining or completing improvements to those lots.  The
Committee also alleged the Chapter 11 Trustee is in possession of
$100,000 from the sale of certain assets that are not subject to
the lien of any secured creditor.  The Committee also alleged the
Trustee will shortly obtain an income tax refund of $96,000, which
may not be subject to the lien of any secured creditor.

In June, the Court authorized the Chapter 11 Trustee to sell
certain of the Debtor's properties in Nebraska, free and clear of
liens, to Legacy Homes Omaha LLC over the objection of Hiller
Electric Company, which asserted a lien under the Nebraska
Construction Lien Act.  The sale agreement includes a cash payment
at closing of $2,250,000, together with the assumption of all
special assessments and real property taxes, which constitutes the
highest and best offer for the sale assets.

                    About Hearthstone Homes

Hearthstone Homes, Inc., filed a Chapter 11 petition in Omaha,
Nebraska (Bankr. D. Neb. Case No. 12-80348) on Feb. 24, 2012.
ketv.com reported that HearthStone Homes filed for Chapter 11
bankruptcy protection after a deal to sell the company fell
through.  Hearthstone Homes' principal business activities have
been the purchase, development and sale of residential real
property for 40 years.

Chief Judge Thomas L. Saladino presides over the case.  The Debtor
is represented by Robert F. Craig, P.C.  Hearthstone estimated
assets and debts of $10 million to $50 million as of the Chapter
11 filing.

Wells Fargo N.A., the primary lender, is represented by lawyers at
Croker Huck Kasher DeWitt Anderson & Gonderinger LLC.

Nancy J. Gargula, the U.S. Trustee for Region 13, appointed seven
unsecured creditors to serve on the Official Committee of
Unsecured Creditors of Hearthstone Homes.


HILCORP ENERGY: Moody's Raises Corporate Family Rating to 'Ba2'
---------------------------------------------------------------
Moody's Investors Service upgraded Hilcorp Energy I, L.P.'s
Corporate Family Rating (CFR) to Ba2 from Ba3 and upgraded its
senior unsecured notes rating to Ba3 from B1. The outlook is
stable. This action concludes Moody's review for upgrade, which
commenced on April 2, 2012.

"The upgrade reflects Hilcorp's continuing growth in reserves and
production," commented Andrew Brooks, Moody's Vice President.
"Deploying asset sale proceeds to repay debt and fund its growth
has enabled Hilcorp to continue its strategy of acquiring low-risk
exploitation projects without re-levering its balance sheet."

Rating Rationale

Proceeds from Hilcorp's high-value sale of its interest in the
Eagle Ford Shale in late 2011 have funded a series of asset
purchases, helping to generate a 20.4% sequential growth in
production in 2012's first quarter to 88,400 Boe per day. Among
the larger of these acquisitions, one having closed in late 2011,
the other pending, have been two portfolios of a series of Cook
Inlet producing fields in Alaska. While the Cook Inlet
acquisitions will skew Hilcorp's production profile more towards
gas -- 62% at March 31, 2012 -- this incremental production comes
with attractively priced sales contracts, and provides an element
of geological diversification to Hilcorp's traditional Texas-
Louisiana Gulf Coast base of operations. However, Alaska does
represent a new operating area for Hilcorp, incurring higher costs
to date and introduces potential execution risk. Reserve growth
has also been strong; Hilcorp's 323.5 million Boe proved reserve
base at year-end 2102 (48% liquids, 61% proved developed) was up
38.7% from 2010's year-end level.

Hilcorp's debt leverage compares favorably to its Ba2 peers, as
the financing of acquisitions and organic reserve and production
growth has been achieved in tandem with debt reduction. Debt to
average daily production was a modest $8,685 in the first quarter
of 2012, while debt to total proved developed reserves was $3.93.
Given Hilcorp's aggressive growth objectives, which include a
doubling of production and reserves by 2015, it is unlikely that
debt reduction of the magnitude achieved over the course of 2011-
2012 to date is permanent. However, it is Moody's expectation that
increased debt leverage up to the equivalent of approximately
$20,000 per Boe average daily production could be accommodated
within Hilcorp's Ba2 rating.

Moody's expects Hilcorp to maintain good liquidity through at
least mid-2013. Balance sheet cash totaled $663 million at March
31, 2012, and Hilcorp's $650 million secured borrowing base
revolving credit facility ($1.25 billion commitment) had no
borrowings outstanding. In the second half of 2012, Hilcorp will
likely use $375 million of cash to close its second of the two
Alaska Cook Inlet acquisitions, and further acquisitions are
probable. Its substantial cash balance should allow Hilcorp to
internally fund growth in 2012, further reducing relative debt
leverage by year-end. Hilcorp maintains full covenant compliance.

The stable outlook reflects Hilcorp's growing production through
its low-risk exploitation strategy, and its modest debt levels.
While there is an expectation that Hilcorp could re-lever to some
extent in the future, an upgrade would be possible should Hilcorp
grow production to over 150,000 Boe per day while maintaining debt
to average daily production below $15,000. Moody's would further
expect that Hilcorp's acquisition appetite not materially deviate
from its historic focus on manageably-sized transactions.
Hilcorp's ratings could be lowered should it materially re-lever
its capital structure to in excess of $20,000 Boe of average daily
production, or should debt materially increase to fund a major
acquisition or dividends.

The Ba3 rating on its senior unsecured notes reflects both the
overall probability of default of Hilcorp, to which Moody's
assigns a PDR of Ba2, and a loss given default of LGD4 (69%).
Hilcorp's senior unsecured notes are subordinate to its $650
million secured borrowing base revolving credit's potential
priority claim to the company's assets. The size of the potential
senior secured claims relative to Hilcorp's outstanding senior
unsecured notes results in the notes being rated one notch below
the Ba2 CFR under Moody's Loss Given Default Methodology.

The principal methodology used in rating Hilcorp was Moody's
Global Independent Exploration and Production Industry rating
methodology published in December 2011. Other methodologies used
include Loss Given Default for Speculative-Grade Non-Financial
Companies in the U.S., Canada and EMEA published in June 2009.

Hilcorp is a private limited partnership headquartered in Houston,
Texas. The company's primary producing assets are located in
Louisiana, the shallow waters of the US Gulf of Mexico, Texas and
Alaska.


HUDSON TREE: Case Dismissed After Approval of Bank7 Financing
-------------------------------------------------------------
The Hon. Brenda T. Rhoades of the Bankruptcy Court for the Eastern
District of Texas has ordered the dismissal of the Chapter 11 case
of Hudson Tree Farm, Inc., after the Bankruptcy Court's approval
of its motion for final order authorizing postpetition financing
from Bank7.

The Debtor's main creditor, AgriLand PCA and AgriLand FLCA, hold
notes of $2,639,557 as of April 24, 2012.  The Debtor sought
alternate financing from Bank7 to pay off the Notes with AgriLand.

                       About Hudson Tree Farm

Bonham, Texas-based Hudson Tree Farm, Inc., dba Kennedy Arbor, has
been engaged in the business of growing and selling trees.  The
company is formerly known as Hudson & Williams Investments, Inc.
Hudson Tree Farm filed for Chapter 11 bankruptcy (Bankr. E.D. Tex.
Case No. 11-43633) on Dec. 5, 2011.  Chief Judge Brenda T. Rhoades
oversees the case.  Bill F. Payne, Esq., at The Moore Law Firm,
LLP, serves as the Debtor's counsel.  In its schedules, the Debtor
disclosed assets of $11.7 million and liabilities of $2.6 million.
The petition was signed by Mark Hudson, president.


IDO SECURITY: DTC Lifts "Deposit Chill" on Common Stock
-------------------------------------------------------
IDO Security Inc. was advised by the Depository Trust Company in a
letter dated June 20, 2012, that DTC has resumed accepting
additional deposits of the Company's stock and book entry transfer
services, thereby ending the "chill" status of the Company's stock
which has been in effect since June 2011.  Effective June 29,
2012, the DTC has restored electronic clearance and settlement
services for the Company's "IDOI" security, which is quoted on the
over-the-counter Bulletin Board (OTC BB) market.

DTC facilitates the post-trade settlement among Direct
Participants of sales and other securities transactions in
deposited securities, through electronic computerized book-entry
transfers and pledges between Direct Participants' accounts.  This
eliminates the need for physical movement of securities
certificates.  Direct Participants include both U.S. and non-U.S.
securities brokers and dealers, banks, trust companies, clearing
corporations, and certain other organizations.

                         About IDO Security

IDO Security Inc. is engaged in the design, development and
marketing of devices for the homeland security and loss prevention
markets that are intended for use in security screening procedures
to detect metallic objects concealed on or in footwear, ankles and
feet through the use of electro-magnetic fields.  The Company's
common stock trades on the OTC Bulletin Board under the symbol
IDOI.  The Company is headquartered in New York City.

The Company reported a net loss of $7.36 million in 2011, compared
with a net loss of $7.77 million in 2010.

The Company's balance sheet at March 31, 2012, showed $1.62
million in total assets, $18.75 million in total liabilities and a
$17.13 million total stockholders' deficiency.

                         Bankruptcy Warning

The Company said in its 2011 annual report that under the terms
of the agreements with the holders of the Company's secured
promissory notes that the Company issued in December 2007 through
December 2011, the note holders have a first priority lien on
substantially all of the Company's assets, including the Company's
cash balances.  If the Company defaults under the notes, the note
holders would be entitled to, among other things, foreclose on the
Company's assets (whether inside or outside a bankruptcy
proceeding) in order to satisfy the Company's obligations under
the credit facility.


INDY HOTEL: Case Summary & 14 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Indy Hotel Ventures, LLC
        dba Holiday Inn Express North
        19600 Elders Road
        Evansville, IN 47725

Bankruptcy Case No.: 12-70975

Chapter 11 Petition Date: July 2, 2012

Court: United States Bankruptcy Court
       Southern District of Indiana (Evansville)

Judge: Basil H. Lorch III

Debtor's Counsel: Patrick C. Badell, Esq.
                  BADELL & WILSON, P.C.
                  P.O. Box 337
                  Rushville, IN 46173-0337
                  Tel: (765) 932-3951
                  E-mail: bwlaw@bwlawoffice.com

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

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

A copy of the Company's list of its 14 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/insb12-70975.pdf

The petition was signed by Jacquelynne M. Jones, owner.


INTEGRATED FREIGHT: Delays Form 10-K for Fiscal 2012
----------------------------------------------------
Integrated Freight Corporation has been unable to complete
accounting at the subsidiary level, gather at the parent level the
accounting information from the subsidiaries, and prepare
consolidated financial statements from the subsidiary accounting
information within the time necessary to file the annual report at
and for the year ended March 31, 2012.

                     About Integrated Freight

Integrated Freight Corporation, formerly PlanGraphics, Inc., (OTC
BB: IFCR) -- http://www.integrated-freight.com/-- is a Sarasota,
Florida headquartered motor freight company providing long-haul,
regional and local service to its customers.  The Company
specializes in dry freight, refrigerated freight and haz-waste
truckload services, operating primarily in well-established
traffic lanes in the upper mid-West, Texas, California and the
Atlantic seaboard.  IFCR was formed for the purpose of acquiring
and consolidating operating motor freight companies.

On Aug. 19, 2010, at a special stockholders' meeting the Company
approved a reverse stock split, a relocation of its State of
Incorporation to Florida and a change of its name to Integrated
Freight Corporation.  The Company's name change and State of
Incorporation have been approved and are effective as of
Aug. 18, 2010.  The reverse stock split has been approved but is
not effective as of the date of this filing.

The Company ended fiscal 2011 with a net loss of $7.76 million on
$18.82 million of revenue and fiscal 2010 with a net loss of $3.14
million on $17.33 million of revenue.

The Company's balance sheet at Dec. 31, 2011, showed
$11.70 million in total assets, $26.29 million in total
liabilities and a $14.58 million total stockholders' deficit.

In the auditors' report accompanying the financial statements for
year ended March 31, 2011, Sherb & Co., LLP, in Boca Raton,
Florida, expressed substantial doubt about the Company's ability
to continue as a going concern.  The independent auditors noted
that the Company has suffered recurring losses and has a negative
working capital position and a stockholders' deficit.


INTERLEUKIN GENETICS: Enters Into Exchange Agreement with Pyxis
---------------------------------------------------------------
Interleukin Genetics, Inc., entered into an Exchange Agreement
with Pyxis Innovations Inc., pursuant to which Pyxis exchanged the
5,000,000 shares of Interleukin's outstanding Series A convertible
preferred stock, $0.001 par value per share, it held for 5,000,000
shares of Series A-1 convertible preferred stock, $0.001 par value
per share.

On June 29, 2012, Interleukin also entered into a Stock Purchase
Agreement with Delta Dental Plan of Michigan, Inc., pursuant to
which, Interleukin sold to Delta Dental 500,000 shares of Series B
convertible preferred stock, $0.001 par value per share, at a
purchase price of $6.00, per share for gross proceeds of
$3,000,000.

For its services as exclusive placement agent BTIG, LLC, received
cash compensation in the amount of approximately $210,000 and a
warrant to purchase 437,158 shares of Interleukin's common stock,
$0.001 par value per share, at an exercise price of $0.2745 per
share.  The warrant is exercisable immediately and expires five
years from the date of grant.

The aggregate net proceeds to Interleukin after deducting
placement agents fees and expenses, and Interleukin's estimated
offering expenses, were approximately $2.7 million.

Pursuant to the Purchase Agreement, without the written consent of
the holders of a majority of the outstanding Series B Preferred
Stock, so long as at least 40% of the originally issued shares of
Series B Preferred Stock remain outstanding, our Board of
Directors shall consist of no more than seven members.

                Amendment to Note Purchase Agreement

On June 29, 2012, Interleukin entered into the Fourth Amendment to
the Amended and Restated Note Purchase Agreement with Pyxis to
extend the maturity date for repayment of all borrowings under the
credit facility until Nov. 30, 2012.  Prior to this amendment, the
maturity date for repayment of all borrowing under the credit
facility had been June 30, 2012.  All $14,316,255 available under
the credit facility has been drawn down.  All borrowings under the
credit facility are convertible into shares of our common stock at
a conversion price equal to $5.6783 per share.

As a result of the extension of the maturity date, the Company has
issued amended and restated promissory notes for the notes
previously issued on June 10, 2008, May 29, 2009, Nov. 9, 2009,
Feb. 1, 2010, Sept. 30, 2010, Nov. 9, 2011, and April 13, 2012, to
reflect the amended maturity date.

            Amendment to the 2003 Stock Purchase Agreement

On June 29, 2012, Interleukin entered into the Third Amendment to
the Stock Purchase Agreement, with Pyxis dated March 3, 2003, in
order to clarify and amend certain terms set forth in Section 6.8
thereof.  Section 6.8, as permitted by Section 122(17) of the
DGCL, regulates the conduct of Pyxis, as a majority stockholder,
and certain related entities, the directors elected by the holders
of the Series A-1 Preferred Stock and directors, officers and
employees of the Majority Stockholder as it relates to "corporate
opportunities".

In connection with the transactions, Catherine Ehrenberger, a
designee of the Series A Preferred Stock, resigned from the Board
of Directors, effective upon the filing of the Certificate of
Designation with the Delaware Secretary of State on June 29, 2012.

Pursuant to the terms of the Purchase Agreement and the
Certificate of Designation, Goran Jurkovic was elected by the
holder of the Series B Preferred Stock as the Series B Director to
fill the vacancy created by the resignation of Ms. Ehrenberger.
Mr. Jurkovic has not been appointed to any committees of the Board
of Directors.  James Weaver, Roger C. Colman and Thomas R. Curran,
Jr., each of whom were designees elected by the Series A Preferred
Stock have continued as the designees elected by the Series A-1
Preferred Stock pursuant to the Certificate of Designation.

          Amendment to Articles of Incorporation

On June 29, 2012, Interleukin filed a certificate of correction
with the Delaware Secretary of State to correct a scriveners
error.  The certificate of correction was effective upon filing.

On June 29, 2012, Interleukin filed a certificate of elimination
with the Delaware Secretary of State to cancel the Series A
Preferred Stock.  The certificate of elimination was effective
upon filing.

On June 29, 2012, Interleukin filed the Certificate of Designation
with the Delaware Secretary of State.

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

                        http://is.gd/PDaBLz

                         About Interleukin

Waltham, Mass.-based Interleukin Genetics, Inc., is a personalized
health company that develops unique genetic tests to provide
information to better manage health and specific health risks.

Following the Company's financial results for the year ended
Dec. 31, 2011, Grant Thornton LLP, in Boston, Massachusetts,
expressed substantial doubt about Interleukin Genetics' ability to
continue as a going concern.  The independent auditors noted that
the Company incurred a net loss of $5.02 million during the year
ended Dec. 31, 2011, and, as of that date, the Company's current
liabilities exceeded its current assets by $12.27 million and its
total liabilities exceeded total assets by $11.4 million.

The Company reported a net loss of $5.0 million for 2011, compared
with a net loss of $6.0 million for 2010.

The Company's balance sheet at March 31, 2012, showed
$1.93 million in total assets, $14.72 million in total
liabilities, and a $12.79 million total stockholders' deficit.


JEFFERSON COUNTY: Judge Rules for Bondholders in Sewer Fight
------------------------------------------------------------
Lance Duroni at Bankruptcy Law360 reports that a federal judge on
Friday barred bankrupt Jefferson County, Ala., from using revenues
generated by its troubled sewer system to pay legal fees and cover
capital expenditures, ruling that the money must be put toward
paying down debt instead.

Katy Stech at Dow Jones' Daily Bankruptcy Review reports that
Jefferson County's bankruptcy judge said Friday that the Alabama
county's leaders can dip into its ailing sewer system's revenue
only to pay for necessary upkeep and repairs.

Bankruptcy Law360 relates that the decision resolves an adversary
proceeding brought by Bank of New York Mellon -- the indenture
trustee for the county's more than $3 billion of sewer-related
debt -- and lenders including JPMorgan Chase Bank NA and Bank of
America NA.

                       About Jefferson County

Jefferson County has its seat in Birmingham, Alabama.  It has a
population of 660,000.

Jefferson County filed a bankruptcy petition under Chapter 9
(Bankr. N.D. Ala. Case No. 11-05736) on Nov. 9, 2011, after an
agreement among elected officials and investors to refinance
$3.1 billion in sewer bonds fell apart.

John S. Young Jr. LLC was appointed as receiver by Alabama Circuit
Court Judge Albert Johnson in September 2010.

Jefferson County's bankruptcy represents the largest municipal
debt adjustment of all time.  The county said that long-term debt
is $4.23 billion, including about $3.1 billion in defaulted sewer
bonds where the debt holders can look only to the sewer system for
payment.

The county said it would use the bankruptcy court to put a value
on the sewer system, in the process fixing the amount bondholders
should be paid through Chapter 9.

Judge Thomas B. Bennett presides over the Chapter 9 case.  Lawyers
at Bradley Arant Boult Cummings LLP and Klee, Tuchin, Bogdanoff &
Stern LLP, led by Kenneth Klee, represent the Debtor as counsel.
Kurtzman Carson Consultants LLC serves as claims and noticing
agent.  Jefferson estimated more than $1 billion in assets.  The
petition was signed by David Carrington, president.

The bankruptcy judge in January 2012 ruled that the state court-
appointed receiver for the sewer system largely lost control as a
result of the bankruptcy. Before deciding whether Jefferson County
is eligible for Chapter 9, the bankruptcy judge will allow the
Alabama Supreme Court to decide whether sewer warrants are the
equivalent of "funding or refunding bonds" required under state
law before a municipality can be in bankruptcy.

U.S. District Judge Thomas B. Bennett ruled in March 2012 that
Jefferson County is eligible under state law to pursue a debt
restructuring under Chapter 9.  Holders of more than $3 billion in
defaulted sewer debt had challenged the county's right to be in
Chapter 9.


KM ASSOCIATES: Will File Amended Disclosure Statement on July 31
----------------------------------------------------------------
KM Associates LLC has withdrawn its disclosure statement and plan
of reorganization upon the objection of the United States Trustee.
KM Associates has agreed to file and amended disclosure statement
and plan of reorganization on or before July 31, 2012.

As reported by the Troubled Company Reporter on June 7, 2012, KM
Associates's plan of reorganization provides for the refinancing
of the Lenders' secured debt on the Principal Real Estate Asset by
the Debtor and third-party investor, The Summers Group.  Based on
multiple conversations with The Summers Group, it is the Debtor's
strong understanding that The Summers Group will also provide an
immediate capital infusion to satisfy, in part or in full, the
remaining Class of creditors' claims.

Summers Group will invest $384,000 to fully satisfy the
Contractors claims based on agreements between the Debtor and
Contractors.  In addition, Sumners Group is providing $450,000 to
fully satisfy the Erect Fund, Frank A. Baer, II, Lee O. Hill, and
Thomas E. Potter's claims based on agreements between the Debtor
and the parties.  The remainder of the capital infusion from The
Summers Group will be utilized to satisfy the remaining creditors
and provide for the continued development of the Principal Real
Estate Asset.

The U.S. Trustee objects to the Disclosure Statement, saying it
does not contain adequate information regarding (a) the financial
relationship between the Debtor and the Summers Group or (b) the
terms of the proposed refinancing of the secured debt.  Moreover,
the proposed refinance of secured debt does not appear to be
sufficiently firm to support confirmation of a plan.

In addition, the U.S. Trustee notes that the disclosure statement
does not provide adequate information regarding (a) the amount of
the proposed capital infusion by the Summers Group, (b) the terms
of the infusion, or (c) the precise manner and time in which
unsecured claims will be paid with those funds.  With respect to
Class 2 contractor claims, the agreements to accept compromise
amounts indicate the agreements became void on Jan. 21, 2012.  The
disclosure statement contains no information indicating those
creditors are now willing to accept compromised amounts.
Moreover, most of the contractors have filed proofs of claim for
the full amount of their lien claim, and the debtor has not
objected or indicated the intent to object to those claims.

With respect to Class 4 unsecured claims, the U.S. Trustee
contends that there is no information regarding (a) the total
amount that will be paid to that class of claims, (b) the number
and amount of such claims, and (c) whether those claims will be
paid in full or paid a compromised amount.

With respect to Class 5 equity claims, the plan proposes to pay
equity interests a compromised amount in full satisfaction of
their "claims", except for SAK, LLC which will receive no payment.
The disclosure statement omits mentioning Highmark Specialty R/E
Trust that is listed as a 5% owner in the SOFA.  More importantly,
the disclosure statement does not state (a) whether equity
interests who are being paid will have any continued interest in
the debtor, (b) whether the equity interests not being paid will
retain their interest, or (c) whether other entities will have an
equity interest in the debtor after the plan is confirmed.

The Debtor has said it is negotiating an agreement for the
refinancing of the secured debt between Citizens National Bank;
CNB Bank; First United Bank & Trust; Merchants National Bank of
Kittanning; Progressive Bank, NA; and Standard Bank PaSB; the
Debtor; and The Summers Group.  During recent discussions between
the parties, the refinancing of the secured debt centered on a
principal of approximately $17,000,000 at a 4.5% interest rate and
a 25-year amortization.

A copy of the disclosure statement is available for free at:

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

                        About KM Associates

KM Associates, LLC, filed a Chapter 11 bankruptcy petition (Bankr.
S.D. W.Va. Case No. 12-20041) on Jan. 30, 2012.  The petition was
signed by Donald S. Simpson, managing member.  The Debtor, a
Single Asset Real Estate under 11 U.S.C. Sec. 101 (51B), disclosed
assets of $17.3 million and liabilities of $26.5 million.

Bank lenders The CNB Bank, Standard Bank PaSB First United Bank &
Trust, Progressive Bank, N.A., Citizens Bank of West Virginia,
Inc. and Farmers and Merchants Bank of Western Pennsylvania,
National Association, are represented by Arthur M. Standish, Esq.,
and Kristian J. Jamieson, Esq., at Steptoe & Johnson PLLC.


KV PHARMACEUTICAL: Fails to Comply with NYSE's $1 Bid Price Rule
----------------------------------------------------------------
K-V Pharmaceutical Company was notified by the New York Stock
Exchange Regulation, Inc., on June 26, 2012, that its Class A
common shares is below criteria for the average closing price of a
security of less than $1.00 over a consecutive 30 day trading
period.  This notification pertains to the Class A Common Stock
but also affects the Class B Common Stock.  The Company will have
a six-month period from the date of the NYSE notification to cure
this deficiency.

Per NYSE procedures, K-V intends to notify the NYSE within 10
business days from the receipt of the NYSE notification of its
intent to cure this deficiency within the six-month cure period.
During this six-month cure period, the Company's shares will
continue to be listed and traded on the NYSE, subject to its
compliance with other NYSE continued listing standards.  However,
starting on July 3, 2012, the Company's Class A common shares and
Class B common shares will trade under the symbols "KVa.BC" and
"KVb.BC," respectively.

                 About KV Pharmaceutical Company

KV Pharmaceutical Company (NYSE: KVa/KVb) --
http://www.kvpharmaceutical.com/-- is a fully integrated
specialty pharmaceutical company that develops, manufactures,
markets, and acquires technology-distinguished branded and
generic/non-branded prescription pharmaceutical products.  The
Company markets its technology distinguished products through
ETHEX Corporation, a subsidiary that competes with branded
products, and Ther-Rx Corporation, the company's branded drug
subsidiary.

The Company reported a net loss of $102.30 million for
the year ended March 31, 2012, a net loss of $271.70 million for
the year ended March 31, 2011, and a net loss of $283.60 million
for the year ended March 31, 2010.

The Company's balance sheet at March 31, 2012, showed
$253.40 million in total assets, $734.10 million in total
liabilities and a $480.70 million total shareholders' deficit.

BDO USA, LLP, in Chicago, Illinois, issued a "going concern"
qualification on the consolidated financial statements for the
fiscal year ended March 31, 2012.  The independent auditors noted
that the Company among other things has experienced recurring
losses from operations, has a significant shareholders' deficit,
and negative working capital; the potential inability of the
Company to raise additional capital or debt financing; a potential
cash shortfall in meeting near term obligations; significant
uncertainties related to litigation and governmental inquiries;
and potential debt covenant violations.  These factors raise
substantial doubt about the Company's ability to continue as a
going concern.


LENCO MOBILE: Peterson Sullivan Raises Going Concern Doubt
----------------------------------------------------------
Lenco Mobile Inc. filed on June 22, 2012, its annual report on
Form 10-K for the fiscal year ended Dec. 31, 2011.

Peterson Sullivan LLP, in Seattle, Washington, expressed
substantial doubt about Lenco Mobile's ability to continue as a
going concern.  The independent auditors noted that the Company
has experienced recurring losses from operations and negative cash
flows from operating activities.

The Company reported a net loss of $29.98 million on $9.50 million
of revenues for 2011, compared with a net loss of $7.58 million on
$6.08 million of revenues for 2010.

The Company's balance sheet at Dec. 31, 2011, showed
$39.39 million in total assets, $18.95 million in total
liabilities, and stockholders' equity of $20.44 million.

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

                       http://is.gd/dU6IBm

Seattle, Washington-based Lenco Mobile Inc. is a global provider
of proprietary mobile messaging and mobile web solutions to large
enterprises and marketing agencies.


LIQUIDMETAL TECHNOLOGIES: 5 Directors Elected at Annual Meeting
---------------------------------------------------------------
Liquidmetal Technologies, Inc., held its annual meeting of
stockholders on June 28, 2012.  At the meeting, the Company's
stockholders (i) elected five directors to the Company's board of
directors, (ii) approved an amendment to the Company's Certificate
of Incorporation to increase the number of authorized shares of
common stock from 300 million to 400 million, (iii) approved the
Company's 2012 Equity Incentive Plan, and (iv) ratified the
appointment of SingerLewak LLP as the Company's independent
registered public accounting firm for fiscal year 2012.  The newly
elected directors are Scott Gillis, Mark Hansen, Abdi Mahamedi,
Ricardo Salas, and Thomas Steipp.

                  About Liquidmetal Technologies

Based in Rancho Santa Margarita, Calif., Liquidmetal Technologies,
Inc. and its subsidiaries are in the business of developing,
manufacturing, and marketing products made from amorphous alloys.
Liquidmetal Technologies markets and sells Liquidmetal(R) alloy
industrial coatings and also manufactures, markets and sells
products and components from bulk Liquidmetal alloys that can be
incorporated into the finished goods of its customers across a
variety of industries.   The Company also partners with third-
party licensees and distributors to develop and commercialize
Liquidmetal alloy products.

After auditing the 2011 financial statements, Choi, Kim & Park,
LLP, in Los Angeles, California, said that the Company's
significant operating losses and working capital deficit raise
substantial doubt about its ability to continue as a going
concern.

The Company's balance sheet at March 31, 2012, showed
$2.02 million in total assets, $4.86 million in total liabilities,
and a $2.84 million total shareholders' deficit.


LIQUIDMETAL TECHNOLOGIES: Completes $12-Mil. Private Placement
--------------------------------------------------------------
Liquidmetal Technologies, Inc., completed the closing of the
private placement of $12.0 million in principal amount of Senior
Convertible Notes due on Sept. 1, 2013.  The Notes were issued
pursuant to the terms of the Securities Purchase Agreement entered
into among the Company and certain accredited investors on
July 2, 2012.  The Private Placement resulted in gross proceeds of
$12.0 million before placement agent fees and other expenses
associated with the transaction.  As a part of the Private
Placement, on July 2, 2012, the Company issued Warrants to the
purchasers of the Notes giving them the right to purchase up to an
aggregate of 18,750,000 shares of the Company's common stock at an
exercise price of $0.384 per share.  In addition, in connection
with the Private Placement, the Company entered into a
Registration Rights Agreement under which it agreed to file a
registration statement with the Securities and Exchange Commission
covering the resale of the shares of the Company's common stock
issuable pursuant to the Notes and Warrants.

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

                       http://is.gd/VS1hdN

A copy of the Securities Purchase Agreement is available at:

                       http://is.gd/pscnsA

                   About Liquidmetal Technologies

Based in Rancho Santa Margarita, Calif., Liquidmetal Technologies,
Inc. and its subsidiaries are in the business of developing,
manufacturing, and marketing products made from amorphous alloys.
Liquidmetal Technologies markets and sells Liquidmetal(R) alloy
industrial coatings and also manufactures, markets and sells
products and components from bulk Liquidmetal alloys that can be
incorporated into the finished goods of its customers across a
variety of industries.   The Company also partners with third-
party licensees and distributors to develop and commercialize
Liquidmetal alloy products.

After auditing the 2011 financial statements, Choi, Kim & Park,
LLP, in Los Angeles, California, said that the Company's
significant operating losses and working capital deficit raise
substantial doubt about its ability to continue as a going
concern.

The Company's balance sheet at March 31, 2012, showed
$2.02 million in total assets, $4.86 million in total liabilities,
and a $2.84 million total shareholders' deficit.


LLS AMERICA: U.S. Laws Apply to Case Trustee's Lawsuits
-------------------------------------------------------
Bankruptcy Judge Patricia C. Williams denied the request of
defendants Sheldon Frank and Margaret Miller to dismiss for lack
of jurisdiction the lawsuit, BRUCE P. KRIEGMAN, solely in his
capacity as court-appointed Chapter 11 Trustee for LLS America,
LLC, Plaintiff, v. PAUL COOPER, et al., Defendants, Adv. Proc. No.
11-80093-PCW11 (Bankr. E.D. Wash.).  The action is one of hundreds
of adversary proceedings commenced by the trustee seeking, on
various grounds, to recover distributions made to LLS America
investors.  The investors are residents of Canada and of the
United States who received disbursements on their investments and
who also received "commissions" for referring other investors to
Doris Nelson, the Company's founder.  Defendants Frank and Miller
contend they are residents of Canada and do not conduct business
in the United States.  Both defendants state they were in Canada
at the time their various investments were solicited and the
repayments and commissions were sent by them to a Canadian entity.

According to the Court, however, although there undoubtedly were
events relevant to this dispute which occurred in Canada, the
evidence indicates that this cross-border activity, whether or not
it constituted a Ponzi scheme, had it center or gravity in
Spokane, Washington.  The application of the doctrine of conflict
of laws results in the conclusion that the laws of the United
States and not the laws of Canada are applicable.

A copy of the Court's July 2, 2012 Memorandum Decision is
available at http://is.gd/ZDm13Nfrom Leagle.com.

                     About Little Loan Shoppe

LLS America LLC, doing business as Little Loan Shoppe, operated an
online payday loan business.  Affiliate Team Spirit America
provided the manpower, management and equipment for Little Loan
Shoppe.  The companies are among a multitude of Canadian and
American business entities owned and operated by Doris E. Nelson,
a/k/a Dee Nelson, a/k/a Dee Foster.  Investors claimed Ms. Nelson
operated a Ponzi scheme.  Ms. Nelson allegedly told investors they
could earn as much as 60% on money her companies used to make
payday loans to consumers.  American and Canadian investors bought
notes worth US$29 million and another C$26,000,000.  However, the
investors received no payments after March 2009.

One investor group placed a related company, LLS-A LLC, into
bankruptcy in July 10, 2009.

LLS America LLC filed for bankruptcy (Bankr. D. Nev. Case No.
09-23021) on July 21, 2009, before Judge Linda B. Riegle.  Gregory
E. Garman, Esq. -- bankruptcynotices@gordonsilver.com -- at Gordon
Silver, served as the Debtor's counsel.  In its petition, the
Debtor listed $2,661,584 in assets and $24,013,837 in debts.  The
petition was signed by Ralph Gamble, CEO of the Company.

The case was subsequently moved to Washington state (Bankr. E.D.
Wash. Case No. 09-06194).  Charles Hall was appointed as examiner
in the case.


LOGIC DEVICES: Posts $456,800 Net Loss in March 31 Quarter
----------------------------------------------------------
LOGIC Devices Incorporated filed its quarterly report on Form
10-Q, reporting a net loss of $456,800 on $110,000 of revenues for
the three months ended March 31, 2012, compared with a net loss of
$104,500 on $573,400 of revenues for the three months ended
March 31, 2011.

For the six months ended March 31, 2012, the Company reported a
net loss of $843,700 on $281,900 of revenues, compared with a net
loss of $511,000 on $778,200 of revenues for the six months ended
March 31, 2011.

The Company's balance sheet at March 31, 2012, showed $2,464,100
in total assets, $949,700 in total liabilities, and stockholders'
equity of $1,514,400

As reported in the TCR on Jan. 3, 2012, Hein & Associates LLP, in
Irvine, California, expressed substantial doubt about LOGIC
Devices' ability to continue as a going concern, following the
Company's results for the fiscal year ended Sept. 30, 2011.  The
independent auditors noted that the Company has suffered recurring
losses from operations and requires additional funds to maintain
its operations.

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

                       http://is.gd/8d5GHA

Sunnyvale, Calif.-based LOGIC Devices Incorporated is an ISO
9001:2008 registered company that develops and markets high-
performance, low power digital integrated circuits and integrated
modules that perform high-density storage and signal/image
processing functions.  The Company's products enable video
display, transport, editing, composition, special effects, and the
high-performance, high-density storage of electronic information.
The Company also provides solutions for digital filtering in
television broadcast stations and image enhancement in medical
diagnostic scanning and imaging equipment.




LON MORRIS COLLEGE: Files for Chapter 11 in Tyler, TX
-----------------------------------------------------
Lon Morris College, of Jacksonville, Texas, filed a Chapter 11
petition (Bankr. E.D. Tex. Case No. 12-60557) in Tyler, on July 2,
2012, after lacking enough endowments to pay teachers, vendors and
creditors.

The president of the College has resigned, as have members of the
board of trustees.  Bridgepoint Consulting LLC's Dawn Ragan has
taken over management of the College as chief restructuring
officer.  Attorneys at McKool Smith P.C., in Houston, serve as
counsel to the Debtor.

Lon Morris College was founded in 1854 as a not-for-profit
religiously affiliated two-year degree granting institution.  Over
the past 158 years, the College has impacted the lives of
countless members of the local Jacksonville community.

According to its books, on April 30, 2012, the College had
approximately $35 million in assets, including $11 million in
endowments and restricted funds, and $18 million in funded debt
and $2 million in trade and other liabilities.

Ms. Ragan explains in a court filing that most of the endowments
were either pledged as collateral against long term debt, or
restricted for purposes that made the funds unavailable to the
Debtor for general operating needs.

The College, according to Ms. Ragan, had limited unrestricted cash
available and would not generate any significant additional cash
until the fall semester commenced.  The Debtor had systemic
problems, and had been operating at a considerable loss for
several years prior to this bankruptcy.  The donor base was no
longer willing to provide the necessary support without a plan to
show improvement.  From $2.744 million in 2007, contributions were
down to $1.334 million in 2011.  The Debtor offered scholarships
to boost enrollment, but scholarships were unfunded.  From a
headcount of 1,070 in 2010, enrolments have been down to 547 this
year.

The College tapped the services of Bridgepoint Consulting LLC on
May 13, 2012 at a time when the Debtor missed two payrolls and
vendor payables, utilities, and long term debt were also past due.

Bridgepoint's assessment indicates it is in the best interest of
the College to find a strong financial partner, and this can best
be accomplished through a chapter 11 proceeding that will give the
Debtor the breathing room to pursue a financial transaction in an
expedited period of time.

The Board of Trustees has authorized a chapter 11 filing to
facilitate the transaction process and maximize recovery to the
College's creditors, and continue, as best as possible, to achieve
the College's goal of educating students in the Jacksonville area.

On the petition date the Debtor filed motions to, among other
things, hire a chief restructuring officer, obtain postpetition
secured and super priority financing, use existing bank accounts,
and bar utilities from discontinuing service.  Emergency hearings
are scheduled for July 5, 2012 at 1:30 p.m.


MAMMOTH LAKES: Files for Chapter 9 Bankruptcy
---------------------------------------------
The town of Mammoth Lakes, California, a small California resort
community near Yosemite National Park, filed a Chapter 9
bankrutpcy petition (Bankr. E.D. Calif. Case No. 12-32463) on July
3, 2012.

Stephanie Gleason and Mike Cherney at Dow Jones' Daily Bankruptcy
Review report that the town council authorized the bankruptcy
filing, saying its largest creditor declined mediation on a $43
million judgment against the town.

Bankruptcy Law360 relates that the Mammoth Lakes Town Council
unanimously voted to file for bankruptcy after real estate
developer Mammoth Lakes Land Acquisition refused to mediate the
judgment against the town and obtained a court order requiring
payment by June 30, the town said in a statement.

The Wall Street Journal's Michelle Kung and Mike Cherney report
that a municipal official said Mammoth Lakes hopes to emerge from
bankruptcy protection before the end of the year.

WSJ relates Mammoth Lakes has cut employee pay and benefits, as
well as reduced the amount it spends with outside vendors.  The
spending cuts were included in a budget that factored in the
possibility of a bankruptcy filing.  According to the report, town
officials said they tried to negotiate with Mammoth Lakes Land
Acquisition, a real estate developer, but couldn't reach terms on
the $43 million it owed the company.  The law firm representing
Mammoth Lakes Land Acquisition didn't respond to a request for
comment, WSJ says.

The report recounts the bankruptcy stems from a planned real-
estate project the town had intended to pursue with Mammoth Lakes
Land Acquisition but ultimately decided to end.  Mammoth Lakes
Land Acquisition sued the town for ending the contract and won.

According to Standard & Poor's, the obligation to the real estate
developer represents 250% of the town's annual general fund
budget.  Mammoth Lakes projected a $2.8 million budget shortfall
for its 2012-13 fiscal year.

Mammoth Lakes is a town in Mono County, California, the county's
only incorporated community. It is located 9 miles northwest of
Mount Morrison, at an elevation of 7,880 feet.  The population was
7,093 at the 2000 census.  Mammoth Lakes has a reputation as a
skiing destination.

The Debtor is represented by:

         Michael L. Tuchin, Esq.
         1999 Avenue of the Stars 39th Floor
         Los Angeles, CA 90067
         Tel: 310-407-4000


MARIAH MOORE: Case Summary & 3 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Mariah Moore House, LLC
        P.O. Box 1802
        Bowling Green, KY 42102

Bankruptcy Case No.: 12-10919

Chapter 11 Petition Date: July 2, 2012

Court: United States Bankruptcy Court
       Western District of Kentucky (Bowling Green)

Debtor's Counsel: Russ Wilkey, Esq.
                  WILKEY & WILSON, P.S.C.
                  111 W. Second Street
                  Owensboro, KY 42303
                  Tel: (270) 685-6000
                  Fax: (270) 683 2229
                  E-mail: dcwilkey@wilkeylaw.com

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

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

A copy of the Company's list of its three largest unsecured
creditors filed together with the petition is available for free
at http://bankrupt.com/misc/kywb12-10919.pdf

The petition was signed by Richard Kelley, managing member.


MOUNTAIN PROVINCE: Tuzo Kimberlite Volume Increased by 78.5%
------------------------------------------------------------
Mountain Province Diamonds Inc. announced a 78.5 percent increase
in the volume estimate of the Tuzo kimberlite pipe at the Gahcho
Kue JV with De Beers Canada Inc.  The Tuzo Deep volume estimate is
based on the pierce points from five inclined drill holes
completed in April, 2012, as well as two pierce points from
earlier drilling.

The results of the Tuzo Deep drilling indicate an increase from
the previous kimberlite volume estimate of 6.6 million cubic
meters to 11.781 million cubic meters.  The bulk of this volume
increase (4.578 million cubic meters) is modelled from a depth of
354 meters (the cut-off of the current resource estimate) to a
depth of 564 meters; an increase in depth of 210 meters.

This represents a significant increase in the volume of the Tuzo
kimberlite and confirms the depth extension of the kimberlite pipe
from 354 meters to 564 meters.  The inclined Tuzo Deep drill holes
flattened as they traversed from granite to the less dense
kimberlite; therefore the volume estimate to 564 meters does not
represent the total potential depth of the Tuzo kimberlite pipe,
which remains open to depth below 564 meters.

Patrick Evans, President and CEO of Mountain Province Diamonds,
commented: "The substantial increase in the volume of the Tuzo
kimberlite pipe to depth below the current resource is very
encouraging.  In addition, the current Tuzo resource model
indicates that the diamond grade increases to depth.  If this
trend continues, the potential exists for higher grade kimberlite
ore below 354 meters."

With an average density of 2.40 grams per cubic centimeter, the
Tuzo volume increase of approximately 5 million cubic meters is
equivalent to an increase of approximately 12.4 million tonnes
over 210 meters from a depth of 354 meters to 564 meters.

The current Tuzo Indicated Resource, grading 1.21 carats pet
tonne, is from surface to a depth of 300 meters.  The Inferred
Resource, with an average grade of 1.75 carats per tonne, is from
a depth of 300 meters to 354 meters.  The increase in grade to
depth is attributable to a generally lower degree of dilution as
well as a coarser diamond distribution.  This leads to the
conclusion that the coherent magmas at depths greater than 300
meters have the potential for a favourable coarse diamond
distribution.

Mr. Evans added: "While we are very pleased that the Tuzo Deep
drill program has confirmed the presence of substantial kimberlite
volumes below the current resource, the flattening of the inclined
drill holes limited the depth to which we were able to test the
kimberlite pipe.  Mountain Province is engaging with JV partner De
Beers to discuss a follow-up program to achieve the original
objective of defining a kimberlite resource to 750 meters."

The above estimate represents kimberlite volume only.  A mineral
resource will only be classified once the geological and grade
modelling has been completed.  Mountain Province anticipates that
an updated resource estimate will be completed by late 2012 and
released in early 2013.  Images depicting the Tuzo kimberlite
volume estimates can be seen on the Company's Web site at
www.mountainprovince.com.

The Tuzo kimberlite is one of four known kimberlites within the
Gahcho Kue joint venture with De Beers.  Three of the four
kimberlites (5034, Hearne and Tuzo) have a Probable Reserve of
29.5 million tonnes with a grade of 1.66 carats per tonne, for
total diamond content of 49 million carats.

In addition to the four known kimberlites at Gahcho Kue, recent
exploration has identified an additional 55 geophysical targets of
which 40 have been classified as high priority.  The JV partners
are currently developing a follow-up exploration program to test
the newly discovered high priority exploration targets.

Mr. Evans concluded: "We are very excited about the further
exploration potential at Gahcho Kue.  To date, all seven of the
kimberlites that have been discovered in the Kennady Lake area are
diamondiferous.  This gives us encouragement that further
kimberlite discoveries are also likely to be diamond-bearing."

                     About Mountain Province

Headquartered in Toronto, Canada, Mountain Province Diamonds Inc.
(TSX: MPV, NYSE AMEX: MDM) -- http://www.mountainprovince.com/--
is a Canadian resource company in the process of permitting and
developing a diamond deposit known as the "Gahcho Kue Project"
located in the Northwest Territories of Canada.  The Company's
primary asset is its 49% interest in the Gahcho Kue Project.

The Company's balance sheet at March 31, 2012, showed
C$66.84 million in total assets, C$13.13 million in total
liabilities, and C$53.70 million in total shareholders' equity.

The Company reported a net loss of C$11.53 million for the year
ended Dec. 31, 2011, compared with a net loss of C$14.53 million
during the prior year.

After auditing the financial statements for the year ended Dec.
31, 2011, KPMG LLP, in Toronto, Canada, noted that the Company has
incurred a net loss in 2011 and expects to require additional
capital resources to meet planned expenditures in 2012 that raise
substantial doubt about the Company's ability to continue as a
going concern.


MEDIA GENERAL: Messrs. Conschafter and Cottingham Elected VPs
-------------------------------------------------------------
Media General is streamlining its market structure and operations
to align with its new focus as a pure-play television broadcaster.
The changes are effective immediately.

The Company's current market structure of five geographic regions
will be replaced by a new structure of two geographic regions,
focused on its 18 network-affiliated television stations.  James
R. Conschafter and John R. Cottingham were elected corporate vice
presidents by the Board of Directors.  Each will have operating
responsibility for one of the two new geographic regions.  Media
General also announced that John A. Schauss, vice president-market
operations, is retiring.  The company will not fill this role, and
the two new positions held by Mr. Conschafter and Mr. Cottingham
will report directly to Marshall N. Morton, president and chief
executive officer of Media General.

"With our June 25 sale of newspapers, Media General is focusing
all of its resources on its broadcast television group.  We are
delighted that our two most experienced broadcast executives will
lead our television operations.  I thank John Schauss for his many
contributions to Media General and wish John and his wife, Joan,
all the best in retirement," said Mr. Morton.  "We are committed
to increasing broadcast cash flow and EBITDA margins.  One
component of margin improvement will be the alignment of our
corporate structure with our new business focus.  The streamlining
of our market structure and operations is a key first step in that
process," he said.

Media General said that the Company's other two current market
leaders, Marilyn Hammond, president and market leader-North
Carolina, and Dan Bradley, president and market leader-Ohio/Rhode
Island, will remain with Media General in key roles that will be
announced at a later date.

Mr. Conschafter is responsible for the following markets and
stations:

North Carolina: Greenville, WNCT-TV; Raleigh, WNCN-TV,
Ohio: Columbus, WCMH-TV
Rhode Island: Providence, WJAR-TV
South Carolina: Spartanburg/Greenville, WSPA-TV and Asheville, NC,
                WYCW; Florence/Myrtle Beach, WBTW
Virginia: Roanoke, WSLS-TV
Tennessee: Johnson City, WJHL-TV

Mr. Cottingham is responsible for the following markets and
stations:

Alabama: Birmingham, WVTM-TV; Mobile, AL/Pensacola, FL, WKRG-TV;
Florida: Tampa, WFLA-TV
Georgia: Augusta, WJBF-TV; Columbus, WRBL-TV; Savannah, WSAV-TV
Mississippi: Jackson, WJTV-TV and Hattiesburg, WHLT-TV
South Carolina: Charleston, WCBD-TV

Mr. Conschafter has been president and market leader, Virginia-
Tennessee since 2010.  Previously, he had served in that role for
the Company's North Carolina market since July 2009.  Prior to
that, he had been senior vice president-broadcast stations, within
the Company's former broadcast division, since 2004.  Mr.
Conschafter joined Media General in 2000 with the Company's
acquisition of Spartan Communications, where he had served as
general manager.  He began at Media General as vice president and
general manager of WSPA and two stations that are no longer owned
by Media General.  Earlier in his career, he held management and
sales leadership positions at network-affiliated television
stations in North Carolina, New York, Missouri and Ohio.  Mr.
Conschafter is a graduate of the Newhouse School of Communications
at Syracuse University.

Mr. Cottingham has been president and market leader, Mid-South,
since July 2009.  Earlier this year, he assumed additional
responsibility for the Company's Florida market.  Prior to
assuming his current role, Mr. Cottingham had been senior vice
president-broadcast stations, within the Company's former
broadcast division, since 2005.  He joined Media General in 2001
as vice president and general manager of three stations, including
WSPA in Spartanburg, S.C.  Earlier in his career, he held
management and sales leadership positions at a number of broadcast
stations in North Carolina, Ohio and Indiana.  Mr. Cottingham
attended Belmont Abbey College.

                       About Media General

Richmond, Virginia-based Media General Inc. (NYSE: MEG) --
http://www.mediageneral.com/-- is an independent communications
company with interests in newspapers, television stations and
interactive media in the United States.  The Company reported a
net loss of $74.32 million for the fiscal year ended Dec. 25,
2011, a net loss of $22.64 million for the fiscal year ended Dec.
26, 2010, and a net loss of $35.76 million for the fiscal year
ended Dec. 27, 2009.

                            *    *    *

As reported by the Troubled Company Reporter on April 12, 2012,
Moody's Investors Service downgraded, among other things, Media
General's Corporate Family Rating (CFR) and Probability of Default
Rating (PDR) to Caa1 from B3, concluding the review for downgrade
initiated on Feb. 13, 2012.  The downgrade reflects the
significant increase in interest expense associated with the
company's credit facility amend and extend transaction and an
assumed issuance of at least $225 million of new notes, which will
result in limited free cash flow generation and constrain Media
General's capacity to reduce its very high leverage.  The weak
free cash flow and high leverage create vulnerability to changes
in the company's highly cyclical revenue and EBITDA generation.

In the May 23, 2012, edition of the TCR, Standard & Poor's Ratings
Services placed its 'CCC+' corporate credit rating on Richmond,
Va.-headquartered Media General Inc., along with its 'CCC+' issue-
level rating on the company's senior secured notes, on CreditWatch
with positive implications.

"The CreditWatch placement is based on Media General's agreement
to sell the majority of its newspaper assets to BH Media Group, a
subsidiary of Berkshire Hathaway Inc.  The CreditWatch also
reflects the announcement that the company will refinance its
existing bank debt due in March 2013. It expects to close the
refinancing transaction next week and the newspaper sale by June
25, 2012," S&P said.


MSR RESORT: Hilton Expert Says Nixing MSR Deals Would Harm It
-------------------------------------------------------------
Lisa Uhlman at Bankruptcy Law360 reports that lawyers for MSR
Resort Golf Course LLC and Hilton Worldwide Inc. sparred Tuesday
during examination of a hospitality expert as the two sides
continue a trial over whether MSR can cancel resort management
agreements, focusing on Hilton's potential loss of income and
reputation.

Bankruptcy Law360 says MSR is seeking to cancel Hilton's
management contracts for three luxury resorts -- the Grand Wailea
Resort Hotel & Spa in Maui, Hawaii; the La Quinta Resort & Club in
Palm Springs, Calif.; and the Arizona Biltmore Resort & Spa in
Phoenix.

                          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.

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.


MUSCLEPHARM CORP: Amends 2011 Reports Due to Accounting Errors
--------------------------------------------------------------
MusclePharm Corporation's independent registered public accounting
firm and the Company's board of directors determined, after
consultation with Company management, that the 2011 financial
statements contained misstatements.  On July 2, 2012, MusclePharm
restated:

   (i) the Company's audited financial statements for the year
       ended Dec. 31, 2011, a copy of the amendment is available
       for free at http://is.gd/JDe2vP

  (ii) the Company's unaudited financial statements for the period
       ended Sept. 30, 2011, a copy of the amendment is available
       for free at http://is.gd/a57phO

(iii) the Company's unaudited financial statements for the period
       ended June 30, 2011, a copy of the amendment is available
       for free at http://is.gd/cNUZLc

  (iv) the Company's unaudited financial statements for the period
       ended March 31, 2011, a copy of the amendment is available
       for free at http://is.gd/GAQkqP

The Company's restated statement of operations reflects a net loss
of $23.28 million on $17.21 million of net sales for the year
ended Dec. 31, 2011, compared with a net loss of $19.56 million on
$3.20 million of net sales during the prior year.  The Company
originally reported a net loss of $23.28 million on $20.83 million
of net sales in 2011, compared with a net loss of $19.56 million
on $4.04 million of net sales in 2010.

The Company's balance sheet at Dec. 31, 2011, showed $5.04 million
in total assets, $18.01 million in total liabilities and a $12.97
million total stockholders' deficit.

The restatement was a result of an error in accounting for the
Company's calculation of net sales and presentation of general and
administrative expenses.  The Company has determined that
advertising related credits that were granted to customers fell
within the guidance of ASC No. 605-50-55.

The Company previously deducted certain credits and promotions as
general and administrative expenses.  After a thorough analysis
and review, the Company has determined to net any credits and
promotions directly against gross sales instead of classifying the
same amounts as an advertising expense.  Because this accounting
change is a reclassification of expenses in the Company's
Consolidated Statements of Operations, the Company's net loss will
not be affected by the restatement, nor does the restatement
affect the net loss amounts reported in its unaudited quarterly
financial statements during 2011 or audited Consolidated Balance
Sheets at Dec. 31, 2011, and De.c 31, 2010, or Consolidated
Statement of Equity at Dec. 31, 2011, and Dec. 31, 2010, or
Consolidated Statements of Cash Flows for the year ended Dec. 31,
2011, and Dec. 31, 2010.

                         About MusclePharm

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

For the year ended Dec. 31, 2011, Berman & Company, P.A., in Boca
Raton, Florida, expressed substantial doubt about the Company's
ability to continue as a going concern.  The independent auditors
noted that the Company has a net loss of $23,280,950 and net cash
used in operations of $5,801,761 for the year ended Dec. 31, 2011;
and has a working capital deficit of $13,693,267, and a
stockholders' deficit of $12,971,212 at Dec. 31, 2011.

The Company's balance sheet at March 31, 2012, showed
$7.55 million in total assets, $24.76 million in total
liabilities, and a $17.21 million total stockholders' deficit.


NEBRASKA BOOK: Emerges From Chapter 11 Bankruptcy Protection
------------------------------------------------------------
Richard Piersol at Lincoln Journal Star reports that Nebraska Book
Co. Inc. has emerged from Chapter 11 bankruptcy, smaller, less
debt-ridden and under new ownership, but with a commitment to
renew aggressive growth in the tough and changing world of college
retailing.

"We were just a highly leveraged company," the report quotes
Steven Clemente, new president and chief operating officer as
saying.  Mr. Clemente was recently a senior vice president at the
College Store Division's Neebo brand.  Mr. Clemente has been with
the company since early 2010.  The restructuring had little effect
on local operations, which employ 400 to 500 people, depending on
the season, he said.

According to the report, Nebraska Book emerged from the planned
restructuring under new ownership.  Gone is Weston Presidio, the
West Coast company that had the biggest stake since 2004.

The report notes the largest shareholder now is Mast Capital of
Boston, with more than 15 other stakeholders.

The report relates the restructuring reduced debt by about $270
million, to about $100 million, the company said, and will now be
completely privately held.  Under the previous regime, debt was
registered with federal security regulators and financial
reporting was public.  Whether that reporting changes will depend
on a new and expanded board of directors.

Nebraska Book filed together with its bankruptcy petition a pre-
packaged Chapter 11 plan that would have swapped some of the
existing debt for new debt, cash and the new stock.  It failed to
confirm that plan due to an inability to secure $250 million in
exit financing.

                        About Nebraska Book

Lincoln, Nebraska-based Nebraska Book Company, Inc., is one of the
leading providers of new and used textbooks for college students
in the United States.  Nebraska Book and seven affiliates filed
separate Chapter 11 petitions (Bankr. D. Del. Case Nos. 11-12002
to 11-12009) on June 27, 2011.  Hon. Peter J. Walsh presides over
the case.  Lawyers at Kirkland & Ellis LLP and Pachulski Stang
Ziehl & Jones LLP, serve as the Debtors' bankruptcy counsel.  The
Debtors; restructuring advisors are AlixPartners LLC; the
investment bankers are Rothschild, Inc.; the auditors are Deloitte
& Touche LLP; and the claims agent is Kurtzman Carson Consultants
LLC.  As of the Petition Date, the Debtors had consolidated assets
of $657,215,757 and debts of $563,973,688.

JPMorgan Chase Bank N.A., as administrative agent for the DIP
lenders, is represented by lawyers at Richards, Layton & Finger,
P.A., and Simpson Thacher & Bartlett LLP.  J.P. Morgan Investment
Management Inc., the DIP arranger, is represented by lawyers at
Bayard, P.A., and Willkie Farr & Gallagher LLP.

An ad hoc committee of holders of more than 50% of the Debtors'
Second Lien Notes is represented by lawyers at Brown Rudnick.  An
ad hoc committee of holders of the Debtors' 8.625% unsecured
notes are represented by Milbank, Tweed, Hadley & McCloy LLP.

The Official Committee of Unsecured Creditors selected Lowenstein
Sandler LLP and Stevens & Lee, P.C., as lawyers and Mesirow
Financial Inc. as financial advisers.


NEBRASKA BOOK: Neebo Issues $100 Million Senior Secured Notes
-------------------------------------------------------------
In connection with the emergence from bankruptcy of Nebraska Book
Company, Inc., and certain of its affiliates in accordance with
its plan of reorganization, Neebo, Inc., a Delaware corporation
formed pursuant to the Plan, issued $100.0 million aggregate
principal amount of its 15.0% Senior Secured Notes due 2016 under
an indenture, dated as of June 29, 2012, between the Company, the
guarantors party thereto and Wilmington Trust, National
Association, as trustee, and collateral agent.

The Notes will mature on June 30, 2016.  At maturity, the Company
is obligated to pay the outstanding principal amount of the Notes
plus 5.0% of such amount.  The Company will pay interest on the
Notes on March 31 and September 30 of each year, commencing on
Sept. 30, 2012.  Interest on the Notes will accrue at a rate of
15.0% per annum.

The terms of the Indenture, among other things, limit the ability
of the Company and certain of its subsidiaries to: make restricted
payments; restrict dividends or other payments of subsidiaries;
incur additional debt; sell its assets; engage in transactions
with affiliates; create liens on assets; and consolidate, merge or
transfer all or substantially all of its assets and the assets of
its subsidiaries.  The indenture also provides for a financial
maintenance covenant based on the Company's consolidated net
leverage ratio.

The Indenture provides for customary events of default which
include, among others: nonpayment of principal or interest; breach
of other agreements in the Indenture; defaults in failure to pay
certain other indebtedness; the rendering of judgments to pay
certain amounts of money against the Company and its subsidiaries;
the failure of certain guarantees to be enforceable; and certain
events of bankruptcy or insolvency.  Generally, if an event of
default occurs and is not cured within the time periods specified,
the Trustee or the holders of at least 25% in principal amount of
the then outstanding Notes may declare all the Notes to be due and
payable immediately.

The Notes are secured by all of the assets of the Company and
Guarantors as set forth in that certain pledge and security
agreement, dated as of June 29, 2012, between the Company, the
Guarantors and the Collateral Trustee.

A copy of the Indenture is available for free at:

                        http://is.gd/j0uvzO

                        About Nebraska Book

Lincoln, Nebraska-based Nebraska Book Company, Inc., is one of the
leading providers of new and used textbooks for college students
in the United States.  Nebraska Book and seven affiliates filed
separate Chapter 11 petitions (Bankr. D. Del. Case Nos. 11-12002
to 11-12009) on June 27, 2011.  Hon. Peter J. Walsh presides over
the case.  Lawyers at Kirkland & Ellis LLP and Pachulski Stang
Ziehl & Jones LLP, serve as the Debtors' bankruptcy counsel.  The
Debtors; restructuring advisors are AlixPartners LLC; the
investment bankers are Rothschild, Inc.; the auditors are Deloitte
& Touche LLP; and the claims agent is Kurtzman Carson Consultants
LLC.  As of the Petition Date, the Debtors had consolidated assets
of $657,215,757 and debts of $563,973,688.

JPMorgan Chase Bank N.A., as administrative agent for the DIP
lenders, is represented by lawyers at Richards, Layton & Finger,
P.A., and Simpson Thacher & Bartlett LLP.  J.P. Morgan Investment
Management Inc., the DIP arranger, is represented by lawyers at
Bayard, P.A., and Willkie Farr & Gallagher LLP.

An ad hoc committee of holders of more than 50% of the Debtors'
Second Lien Notes is represented by lawyers at Brown Rudnick.  An
ad hoc committee of holders of the Debtors' 8.625% unsecured
notes are represented by Milbank, Tweed, Hadley & McCloy LLP.

The Official Committee of Unsecured Creditors selected Lowenstein
Sandler LLP and Stevens & Lee, P.C., as lawyers and Mesirow
Financial Inc. as financial advisers.

Nebraska Book has been unable to confirm a pre-packaged Chapter 11
plan that would have swapped some of the existing debt for new
debt, cash and the new stock, due to an inability to secure
$250 million in exit financing.

As reported by the TCR on July 4, 2012, NBC Acquisition and its
subsidiaries, successfully completed their restructuring and have
emerged from Chapter 11.


NEBRASKA BOOK: Suspending Filing of Reports with SEC
----------------------------------------------------
NBC Acquisition Corp. filed a Form 15 notifying of its
suspension of its duty under Section 15(d) to file reports
required by Section 13(a) of the Securities Exchange Act of 1934
with respect to its 11% Senior Discount Notes due 2013.  There was
no holder of the Discount Notes as of July 2, 2012.

                        About Nebraska Book

Lincoln, Nebraska-based Nebraska Book Company, Inc., is one of the
leading providers of new and used textbooks for college students
in the United States.  Nebraska Book and seven affiliates filed
separate Chapter 11 petitions (Bankr. D. Del. Case Nos. 11-12002
to 11-12009) on June 27, 2011.  Hon. Peter J. Walsh presides over
the case.  Lawyers at Kirkland & Ellis LLP and Pachulski Stang
Ziehl & Jones LLP, serve as the Debtors' bankruptcy counsel.  The
Debtors; restructuring advisors are AlixPartners LLC; the
investment bankers are Rothschild, Inc.; the auditors are Deloitte
& Touche LLP; and the claims agent is Kurtzman Carson Consultants
LLC.  As of the Petition Date, the Debtors had consolidated assets
of $657,215,757 and debts of $563,973,688.

JPMorgan Chase Bank N.A., as administrative agent for the DIP
lenders, is represented by lawyers at Richards, Layton & Finger,
P.A., and Simpson Thacher & Bartlett LLP.  J.P. Morgan Investment
Management Inc., the DIP arranger, is represented by lawyers at
Bayard, P.A., and Willkie Farr & Gallagher LLP.

An ad hoc committee of holders of more than 50% of the Debtors'
Second Lien Notes is represented by lawyers at Brown Rudnick.  An
ad hoc committee of holders of the Debtors' 8.625% unsecured
notes are represented by Milbank, Tweed, Hadley & McCloy LLP.

The Official Committee of Unsecured Creditors selected Lowenstein
Sandler LLP and Stevens & Lee, P.C., as lawyers and Mesirow
Financial Inc. as financial advisers.

Nebraska Book has been unable to confirm a pre-packaged Chapter 11
plan that would have swapped some of the existing debt for new
debt, cash and the new stock, due to an inability to secure
$250 million in exit financing.

As reported by the TCR on July 4, 2012, NBC Acquisition and its
subsidiaries, successfully completed their restructuring and have
emerged from Chapter 11.


NET ELEMENT: Unit Borrows US$4.5 Million from Green Venture
-----------------------------------------------------------
OOO Net Element Russia, a subsidiary of Net Element, Inc., entered
into a Loan Agreement with Green Venture Group, LLC.  Pursuant to
the Loan Agreement, GVG agreed to loan to Net Element Russia 150
million Russian rubles (or approximately US$4,557,885 based on the
currency exchange rate as of the close of business on June 26,
2012).

The loan is unsecured and must be funded within five business days
from June 26, 2012.  The loan is intended to be used by Net
Element Russia for working capital and the development of the
business of OOO TOT Money, which is a subsidiary of Net Element,
Inc., that was recently formed to adapt the existing revenue
sharing platform used in Openfilm.com to a mobile commerce payment
processing platform.  The interest rate under the Loan Agreement
is 8.15% per annum and outstanding principal and interest is due
on or before Nov. 1, 2012.

The loan may be pre-paid at any time without penalty or charge.
Under the Loan Agreement, the required repayment date of the loan
may be accelerated if an event of default occurs under the terms
of the Loan Agreement, including if certain bankruptcy, receiver,
insolvency or dissolution events occur with respect to Net Element
Russia or if Net Element Russia fails to timely pay principal or
interest under the Loan Agreement and that failure continues for
60 business days from the date of receipt of written notice of
such failure from GVG.

GVG is owned and controlled by Mike Zoi, a director and Chief
Executive Officer of Net Element, Inc.

                         About Net Element

Miami, Fla.-based Net Element, Inc. (formerly TOT Energy, Inc.)
currently operates several online media websites in the film, auto
racing and emerging music talent markets.

Following the 2011 results, Daszkal Bolton LLP, in Fort
Lauderdale, Florida, expressed substantial doubt about the
Company's ability to continue as a going concern.  The independent
auditors noted that the Company has experienced recurring losses
and has an accumulated deficit and stockholders' deficiency at
Dec. 31, 2011.

The Company reported a net loss of $24.85 million in 2011,
compared with a net loss of $3.10 million in 2010.

The Company's balance sheet at March 31, 2012, showed
$2.34 million in total assets, $6.83 million in total liabilities,
and a $4.49 million total stockholders' deficit.


NEWPAGE CORP: Rebuffs Verso Paper's Overtures in Bankruptcy Deal
----------------------------------------------------------------
Peg Brickley at Dow Jones' Daily Bankruptcy Review reports that
Verso Paper Corp. isn't saying whether it will take "no" for an
answer permanently from NewPage Corp., the beaten-down rival that
Verso is attempting to engage in merger talks.

                       About NewPage Corp.

Headquartered in Miamisburg, Ohio, NewPage Corporation was the
leading producer of printing and specialty papers in North
America, based on production capacity, with $3.6 billion in net
sales for the year ended Dec. 31, 2010.  NewPage owns paper mills
in Kentucky, Maine, Maryland, Michigan, Minnesota, Wisconsin and
Nova Scotia, Canada.

NewPage Group, NewPage Holding, NewPage, and certain of their U.S.
subsidiaries commenced Chapter 11 voluntary cases (Bankr. D. Del.
Case Nos. 11-12804 through 11-12817) on Sept. 7, 2011.  Its
subsidiary, Consolidated Water Power Company, is not a part of the
Chapter 11 proceedings.

Separately, on Sept. 6, 2011, its Canadian subsidiary, NewPage
Port Hawkesbury Corp., brought a motion before the Supreme Court
of Nova Scotia to commence proceedings to seek creditor protection
under the Companies' Creditors Arrangement Act of Canada.  NPPH is
under the jurisdiction of the Canadian court and the court-
appointed Monitor, Ernst & Young in the CCAA Proceedings.

Initial orders were issued by the Supreme Court of Nova Scotia on
Sept. 9, 2011 commencing the CCAA Proceedings and approving a
settlement and transition agreement transferring certain current
assets to NewPage against a settlement payment of $25 million and
in exchange for being relieved of all liability associated with
NPPH.  On Sept. 16, 2011, production ceased at NPPH.

Martin J. Bienenstock, Esq., Judy G.Z. Liu, Esq., and Philip M.
Abelson, Esq., Dewey & LeBoeuf LLP, in New York, serve as counsel
in the Chapter 11 case.  Laura Davis Jones, Esq., at Pachulski
Stang Ziehl & Jones LLP, in Wilmington, Delaware, serves as co-
counsel.  Lazard Freres & Co. LLC is the investment banker, and
FTI Consulting Inc. is the financial advisor.  Kurtzman Carson
Consultants LLC is the claims and notice agent.  In its balance
sheet, the Debtors disclosed $3.4 billion in assets and
$4.2 billion in total liabilities as of June 30, 2011.

The Official Committee of Unsecured Creditors selected Paul
Hastings LLP as its bankruptcy counsel and Young Conaway Stargatt
& Taylor, LLP to act as its Delaware and conflicts counsel.

NewPage prevailed over most objections from the official
creditors' committee and won agreement from the bankruptcy judge
on final approval of $600 million in secured financing.

Moody's Investors Service assigned a Ba2 rating to the
$350 million first-out revolving debtor-in-possession credit
facility and a B2 rating to the $250 million second-out debtor-in-
possession term loan for NewPage.


NORAM RESOURCES: D&O Negligence Claims Belong to Bankruptcy Estate
------------------------------------------------------------------
William G. West, chapter 7 Trustee for the estates of Ausam Energy
Corp. and Noram Resources, Inc., sued Frederick E. Peterson,
Richard T. Aab, Brian E. Bro, Kinloch Rice Field LLC, and the
William Carey Crane, Jr. Trust for turnover of property of the
estate, damages and losses for violation of the automatic stay,
and legal fees and expenses.  The Defendants filed two separate
state court lawsuits against former Ausam directors and officers,
asserting claims for negligence and negligent misrepresentation.
Messrs. Peterson and Aab's lawsuit settled, and Messrs. Peterson
and Aab were paid from the proceeds of an executive and
organizational liability insurance policy allegedly owned by the
Ausam/Noram estates.  Kinloch and the Crane Trust's lawsuit is
still pending.  The Chapter 7 Trustee asserts that the claims the
Defendants brought in the state court lawsuits are property of the
estate.  He seeks turnover of the proceeds paid to Messrs.
Peterson and Aab, and an injunction against Kinloch and the Crane
Trust.  The Defendants move for summary judgment, arguing that as
a matter of law, the claims are not property of the estate.  The
Chapter 7 Trustee moves for a determination of property of the
estate.

On Monday, Bankruptcy Judge Marvin Isgur granted, in part, and
denied, in part, both the Defendants' motion for summary judgment
and the Chapter 7 Trustee's motion.  He noted that the Defendants'
state court petitions allege direct damages to the Defendants as a
result of the Ausam directors' negligent misrepresentations.
However, the Defendants also allege damages that are derivative of
damages to Ausam.  The Court said the negligence claims for injury
to Ausam belong to the estate and may be asserted only by the
Trustee.

Judge Isgur clarified he's not ruling on the ownership of the
insurance proceeds used to settle the Peterson lawsuit.  It is
premature to rule on the ownership of the proceeds.

The case is WILLIAM G. WEST, Plaintiff(s), v. FREDERICK E.
PETERSON, et al, Defendant(s), Adv. Proc. No. 11-3598 (Bankr. S.D.
Tex.).  A copy of Judge Isgur's July 2, 2012 Memorandum Opinion is
available at http://is.gd/9Swsl8from Leagle.com.

              About Ausam Energy and Noram Resources

Ausam Energy Corp. and Noram Resources Inc. filed chapter 11
bankruptcy petitions (Bankr. S.D. Tex. Case Nos. 08-38222 and
08-38223) on Dec. 30, 2008.

Ausam and Noram were oil and gas companies incorporated under the
law of Alberta, Canada.  Noram was a subsidiary of Ausam.
Ausam/Noram's major secured creditor was Huff Energy Fund, L.P.
Ausam/Noram executed a $25,000,000 Senior Secured Convertible
Debenture in favor of Huff.  Under the terms of the Debenture,
Ausam/Noram was limited in its ability to issue shares.  Ausam
nonetheless issued shares and warrants on Oct. 24, 2008, which
triggered a default under the Debenture.

The cases were converted to chapter 7 cases on Feb. 26, 2009.
William West was appointed chapter 7 trustee on Feb. 27, 2009.


NORTH LAS VEGAS: Declares Emergency to Cut Labor Costs
------------------------------------------------------
Kelly Nolan at Dow Jones' DBR Small Cap reports that North Las
Vegas is taking an unusual approach to combat growing labor costs,
which consume more than 80% of its budget: The Nevada city has
declared a state of emergency and suspended some terms of its
contracts with unions for the fiscal year starting July 1.


NORTHSTAR AEROSPACE: Court Approves Asset Sale to Heligear
----------------------------------------------------------
BankruptcyData.com reports that the U.S. Bankruptcy Court approved
Northstar Aerospace's motion for approval of an asset purchase
agreement for the sale of substantially all of the Debtors' assets
and the assets of the Canadian vendors to Heligear Acquisition Co.
and Heligear Canada Acquisition Corporation for a total of $70
million or highest bidder at auction. If needed, the Court
scheduled a July 17, 2012 auction.

                     About Northstar Aerospace

Chicago, Illinois-based Northstar Aerospace --
http://www.nsaero.com/-- is an independent manufacturer of flight
critical gears and transmissions.  With operating subsidiaries in
the United States and Canada, Northstar produces helicopter gears
and transmissions, accessory gearbox assemblies, rotorcraft drive
systems and other machined and fabricated parts.  It also provides
maintenance, repair and overhaul of components and transmissions.
Its plants are located in Chicago, Illinois; Phoenix, Arizona and
Milton and Windsor, Ontario.  Northstar employs over 700 people
across its operations.

Northstar Aerospace, along with affiliates, filed for Chapter 11
protection (Bankr. D. Del. Lead Case No. 12-11817) in Wilmington,
Delaware, on June 14, 2012, to sell its business to affiliates of
Wynnchurch Capital, Ltd., absent higher and better offers.

Attorneys at SNR Denton US LLP and Bayard, P.A. serve as counsel
to the Debtors.  The Debtors have obtained approval to hire Logan
& Co. Inc. as the claims and notice agent.

Certain Canadian affiliates are also seeking protection pursuant
to the Companies' Creditors Arrangement Act, R.S.C.1985, c. C-36,
as amended.

As of March 31, 2012, Northstar disclosed total assets of
$165.1 million and total liabilities of $147.1 million.
Approximately 60% of the assets and business are with the U.S.
debtors.


NORTHWEST ATLANTA: Case Summary & 10 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Northwest Atlanta Vest, LLC
        6111 Peachtree Dunwoody Road
        Suite 102B
        Atlanta, GA 30318

Bankruptcy Case No.: 12-66726

Chapter 11 Petition Date: July 2, 2012

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

Debtor's Counsel: John A. Christy, Esq.
                  SCHREEDER, WHEELER & FLINT, LLP
                  1100 Peachtree Street, Suite 800
                  Atlanta, GA 30309-4516
                  Tel: (404) 681-3450
                  Fax: (404) 681 1046
                  E-mail: jchristy@swfllp.com

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

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

A copy of the Company's list of its 10 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/ganb12-66726.pdf

The petition was signed by Stanley R. Bullington, manager.


NPS PHARMACEUTICALS: Inks 5th Amendment to Amgen License Pact
-------------------------------------------------------------
NPS Pharmaceuticals, Inc., entered into a Fifth Amendment to the
Development and License Agreement, effective as of Dec. 27, 1995,
Amgen Inc.  Cinacalcet Royalty Sub LLC, the Company's wholly-owned
subsidiary and owner of the Sensipar/Mimpara royalty rights,
consented to the Amendment.

Under the revised agreement, NPS will receive a one-time $25
million payment in July 2012 in exchange for its rights to receive
royalties under the license agreement that are earned after
Dec. 31, 2018.  The amendment also limits the royalty offset of
the royalty advance that NPS received from Amgen in August 2011 to
$8 million per quarter with royalties in excess of $8 million paid
to NPS for the respective quarter, thereby extending the royalty
advance repayment period.  After the repayment of the royalty
advance and a 9 percent per annum discount factor on the
outstanding balance, Amgen will resume paying NPS all royalties
earned through Dec. 31, 2018.  As of June 30, 2012, NPS owed Amgen
a balance of $92 million on the royalty advance.

"This agreement significantly accelerates our cash flow with at
least $75 million of incremental cash expected through 2013," said
Luke M. Beshar, executive vice president and chief financial
officer.  "These funds are expected to fully support the cash
requirements to launch both Gattex and Natpara, and represent a
critical step in our transition to a self-sustaining commercial-
stage organization.  This innovative transaction underscores our
commitment to accessing capital at the lowest possible cost and in
a manner that is in the best interests of our shareholders."

                     About NPS Pharmaceuticals

Based in Bedminster, New Jersey, NPS Pharmaceuticals Inc. (Nasdaq:
NPSP) -- http://www.npsp.com/-- is developing new treatment
options for patients with rare gastrointestinal and endocrine
disorders.

NPS reported a net loss of $36.26 million in 2011, a net loss of
$31.44 million in 2010 and a net loss of $17.86 million in 2009.

The Company's balance sheet at March 31, 2012, showed $183.32
million in total assets, $237.70 million in total liabilities and
a $54.38 million total stockholders' deficit.


OCEANSIDE YACHT CLUB: Files for Chapter 11 in Wilson
----------------------------------------------------
Morehead City, North Carolina-based Oceanside Yacht Club
Development, Inc., filed a Chapter 11 petition (Bankr. E.D.N.C.
Case No. 12-04824) on July 2, 2012.

The Debtor owns lots in Atlantic Beach, Pine Knoll Shores, and
Morehead City, and condominium units at Morgan Creek Landing and
The Shores at Spooners Creek in Morehead City.

The Debtor scheduled total assets of $23.98 million and total
liabilities of $30.23 million as of the Chapter 11 filing.
Branch Banking & Trust is owed $27.5 million, of which $22.48
million is secured.

According to the case docket, the meeting of creditors is
scheduled for Aug. 6, 2012 at 10:00 a.m.  The last day to file a
complaint is Oct. 5.  Proofs of claim are due Nov. 5.  Government
entities are required to submit their claims by Dec. 31.

The Debtor is required to submit a Chapter 11 plan and disclosure
statement by Oct. 1.  A status hearing is scheduled for Aug. 6.

Trawick H Stubbs, Jr., Esq., at Stubbs & Perdue, P.A., in New
Bern, serves as counsel.


PANAM INVESTMENT: Case Summary & 5 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Panam Investment, Inc.
        164 North Point Way
        Acworth, GA 30102

Bankruptcy Case No.: 12-66557

Chapter 11 Petition Date: July 2, 2012

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

Judge: James R. Sacca

Debtor's Counsel: Bryan M. Knight, Esq.
                  KNIGHT & JOHNSON LLC
                  1360 Peachtree Street, Suite 1201
                  Atlanta, GA 30309
                  Tel: (404) 228-4822

Estimated Assets: $100,001 to $1,000,000

Estimated Debts: $1,000,001 to $100,000,000

A copy of the Company's list of its five largest unsecured
creditors filed together with the petition is available for free
at http://bankrupt.com/misc/ganb12-66557.pdf

The petition was signed by Deval Patel, secretary.


PATIENT SAFETY: Files Form S-1, Registers 2.5MM Common Shares
-------------------------------------------------------------
Patient Safety Technologies, Inc., filed with the U.S. Securities
and Exchange Commission a Form S-1 relating to the offering by
Kinderhook Partners, L.P., Wayne Lin, JMR Capital Limited, David
Spiegel, and Neil Danics of up to 2,499,998 shares of common
stock, par value $0.33 per share.  The proposed maximum offering
price is $4.24 million.

The Company will not receive any proceeds from the sale of common
stock by the selling stockholders.

The Company's common stock is quoted on the OTC Bulletin Board
under the symbol "PSTX."  On June 26, 2012, the closing price of
the Company's common stock was $1.70 per share.

A copy of the prospectus is available for free at:

                       http://is.gd/OKtbMZ

                 About Patient Safety Technologies

Patient Safety Technologies, Inc. (OTC: PSTX) --
http://www.surgicountmedical.com/-- through its wholly owned
operating subsidiary SurgiCount Medical, Inc., provides the
Safety-Sponge(TM) System, a system designed to improve the
standard of patient care and reduce health care costs by
preventing the occurrence of surgical sponges and other retained
foreign objects from being left inside patients after surgery.
RFOs are among one of the most common surgical errors.

The Company's balance sheet at March 31, 2012, showed
$13.99 million in total assets, $5.09 million in total
liabilities, all current, and $8.90 million in total stockholders'
equity.

Patient Safety reported a net loss of $1.89 million in 2011,
compared with net income of $2 million during the prior year.


PEACHTREE INDUSTRIAL: Case Summary & 5 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Peachtree Industrial Vest, LLC
        6111 Peachtree Dunwoody Road
        Suite B102
        Atlanta, GA 30328

Bankruptcy Case No.: 12-66735

Chapter 11 Petition Date: July 2, 2012

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

Debtor's Counsel: John A. Christy, Esq.
                  SCHREEDER, WHEELER & FLINT, LLP
                  1100 Peachtree Street, Suite 800
                  Atlanta, GA 30309-4516
                  Tel: (404) 681-3450
                  Fax: (404) 681 1046
                  E-mail: jchristy@swfllp.com

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

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

A copy of the Company's list of its 10 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/ganb12-66735.pdf

The petition was signed by Stanley R. Bullington, manager.


PENN CAMERA: Deadline to Challenge Cannon, Nikon Claims Extended
----------------------------------------------------------------
Bankruptcy Judge Paul Mannes approved a stipulation and consent
order that further extends to August 30, 2012, the deadline for
Penn Camera Exchange, Inc., to file objections to reclamation
claims under 11 U.S.C. Sec. 503(B)(9) of Canon U.S.A., Inc. and
Nikon Inc.  Canon submitted a Section 503(b)(9) claim of $551,587.
Nikon submitted a Section 503(b)(9) claim of $445,795.  A copy of
the July 2, 2012 Stipulation is available at http://is.gd/Xw3EdA
from Leagle.com.

                     About Penn Camera Exchange

Founded in 1953, Penn Camera Exchange, Inc. --
http://www.penncameras.com/-- was known for its wide selection of
photography equipment, classes and technicians.  Based in
Beltsville, Maryland, Penn Camera filed for Chapter 11 bankruptcy
(Bankr. D. Md. Case No. 12-10113) on Jan. 4, 2012.  Judge Paul
Mannes presides over the case.  Nelson C. Cohen, Esq., at
Zuckerman Spaeder LLP, serves as the Debtor's counsel.  Penn
Camera scheduled assets of $4,050,487 and liabilities of
$4,402,910.  The petition was signed by Jeffrey Zweig, president.

On Jan. 9, 2012, the United States Trustee appointed an official
committee of unsecured creditors.  Michael J. Lichtenstein, Esq.,
at Shulman, Rodgers, Gandal, Pordy & Ecker, P.A., represents the
Committee.

Penn Camera closed five of its stores around Washington before the
Chapter 11 filing.  It sold the inventory in the remaining three
stores in bankruptcy court-sanctioned going-out-of-business sales
ran by Great American Group.  The agreement called for Great
American to receive a fee of 5% of gross inventory sales and 25%
of fixtures.

Calumet Photographic Inc. assumed the assets and leases for the
three locations for $600,000. Calumet would continue to operate
under the Penn Camera banner.  The purchase price includes
$250,000 in cash at closing and a $350,000 promissory note due in
six months. The buyer has also assumed up to $100,000 of gift card
liability.


PROELITE INC: Jerry Rubinstein Named Board Chairman and CEO
-----------------------------------------------------------
Jerry Rubinstein was elected by the board of directors of
ProElite, Inc., as Chairman of the Board and Chief Executive
Officer effective June 28, 2012.  Also effective June 28, 2012,
Paul Feller resigned as the Chairman of the Board, Chief Executive
Officer and a director of the Company.

                        About ProElite Inc.

Los Angeles, Calif.-based ProElite, Inc., is a holding company for
entities that (a) organize and promote mixed martial arts matches,
and (b) create an internet community for martial arts enthusiasts
and practitioners.

On Oct. 20, 2008, management, with Board ratification, decided to
close or sell all operations and began an extended period of
restructuring its balance sheet, divesting itself of certain
assets, settlement of contingent liabilities, and attempting to
raise additional capital.

Effective Oct. 12, 2009, the Company entered into a Strategic
Investment Agreement with Stratus Media Group, Inc. ("SMGI")
pursuant to which the Company agreed to sell to SMGI, shares of
the Company's Series A Preferred Stock (the "Preferred Shares").
The Preferred Shares are convertible into the Common Stock of the
Company.  This transaction closed on June 14, 2011.

Gumbiner Savett Inc., in Santa Monica, Calif., expressed
substantial doubt about ProElite's ability to continue as a going
concern, following its audit of the Company's financial statements
as of and for the years ended Dec. 31, 2008, and 2007.  The
independent auditors noted that the Company has suffered losses
from operations and negative cash flows from operations.

The Company reported a net loss of $55.6 million for the fiscal
year ended Dec. 31, 2008, compared with a net loss of
$27.1 million for the fiscal year ended Dec. 31, 2007.

As a result of the decision to discontinue operations, the Company
did not have any revenues, cost of revenue, and gross profit for
the fiscal years ended Dec. 31, 2008, and 2007.

At Dec. 31, 2008, the Company's balance sheet showed $2.3 million
in total assets, $11.8 million in total liabilities, and a
shareholders' deficit of $9.5 million.

ProElite notified the U.S. Securities and Exchange Commission
that it requires additional time to complete the financial
statements for the fiscal quarter ended Sept. 30, 2011, and
cannot, without unreasonable effort and expense, file its Form 10-
Q on or before the prescribed filing date.  The Company expects to
obtain all required data and complete the financial statements
within the next several days and, as a result, expects to file the
Form 10-Q within five days after the prescribed filing date.


PUBLIC BROADCASTING: Moody's Withdraws 'Ba1' Bond Rating
--------------------------------------------------------
Moody's Investors Service has withdrawn the Ba1 rating on Public
Broadcasting of Colorado, Inc.'s (DBA Colorado Public Radio)
("CPR") $3.8 million of Series 2002 bonds issued by the Colorado
Educational and Cultural Facilities Authority. The rating
withdrawal follows the redemption of these bonds on July 1, 2012.
At this time, CPR no longer maintains any debt outstanding with a
Moody's rating based on its credit quality.

Withdrawal Reason

Moody's has withdrawn the rating because the bonds have been
redeemed.


RADIENT PHARMACEUTICALS: Operations Minimal, Warns Bankruptcy
-------------------------------------------------------------
Radient Pharmaceuticals Corporation filed on June 29, 2012, its
annual report on Form 10-K for the fiscal year ended Dec. 31,
2011.

KMJ Corbin & Company LLP, in Costa Mesa, California, expressed
substantial doubt about Radient's ability to continue as a going
concern.  The independent auditors noted that the Company has
incurred significant operating losses, had negative cash flows
from operations in 2011 and 2010, and has a working capital
deficit of approximately $49.8 million at Dec. 31, 2011.

The Company reported a net loss of $86.19 million on $313,559 of
revenues in 2011, compared with a net loss of $85.71 million o
$231,662 of revenues in 2010.

For the year ended Dec. 31, 2011, the Company's loss from
operations was $86.19 million compared to the year ended Dec. 31,
2010, when the Company's loss from operations was $85.71 million.

The Company's balance sheet at Dec. 31, 2011, showed $1.18 million
in total assets, $50.87 million in total current liabilities, and
a stockholders' deficit of $49.69 million.

May Seek Protection Under U.S. Bankruptcy Laws

"As a result of our working capital deficiencies, we have recently
laid off a substantial portion of our work force and are currently
operating on a minimal basis with only two employees and three
former employee consultants," the Company said in the filing.
"The current focus of our operations is to ensure that our
existing Onko-Sure(R) customers and any future customers are able
to place orders and receive kits on a timely basis.  We have an
Onko-Sure(R) production continuity arrangement in place with one
vendor.  At the current time, the Company believes that it does
not require any additional staff to perform this limited
manufacturing, quality control and selling process."

"The Company appointed a committee of three independent directors
to assess available options open to the Company to enable us to
continue operations.  Due to the shortage of working capital, we
were unable to pay premiums associated with our Directors and
Officers insurance.  As a consequence, on June 25, 2012, we were
informed by two members of our Board of Directors of their
resignation.  As a result, we have only one independent Director
serving on our Board at this time.  Although our remaining sales
team continues to work towards completing pending and future sales
of our Onko-Sure(R) test kit, if these sales are not completed and
we do not otherwise raise additional funds in the immediate
future, it is likely that we will be forced to cease all
operations and might seek protection from our creditors under the
United States bankruptcy laws.

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

                       http://is.gd/vJHooI

Tustin, Calif.-based Radient Pharmaceuticals Corporation is
engaged in the research, development, manufacturing, sale and
marketing of its Onko-Sure(R) test kit, which is a proprietary in-
vitro diagnostic (or IVD) cancer test.  The Company markets its
Onko-Sure(R) test kits in the United States, Canada, Chile,
Europe, India, Korea, Japan, Taiwan, Vietnam and other markets
throughout the world.


RESIDENTIAL CAPITAL: Proposes FTI as Financial Advisor
------------------------------------------------------
Residential Capital, LLC and its debtor affiliates seek authority
from the U.S. Bankruptcy Court for the Southern District of New
York to employ FTI Consulting, Inc., as their financial advisor,
nunc pro tunc to May 14, 2012.

As financial advisor, FTI will assist with the preparation of
financial related disclosures required by the Court, and assist
the Debtors with certain aspects of claims management and
resolution, among other things.

FTI's proposed compensation will be a monthly fixed fee of
$1,750,000 per month until the later of March 31, 2013, or the
sale of substantially all of the Debtors' assets.  After that
time, FTI will be paid a monthly fixed fee of $1,250,000 until
the effective date of a Chapter 11 plan of reorganization or
liquidation, plus reimbursement of actual and necessary expenses.
FTI will also be paid a completion fee of $4,300,000.

During the 90-day period prior to the Debtors' Petition Date, FTI
received $7,241,578 from the Debtors for professional services
performed and expenses incurred.  Prior to the Petition Date, FTI
received retainers totaling $1,350,000.  FTI will apply the
remaining amount of its prepetition Retainer as a credit towards
postpetition fees and expenses, after the postpetition fees and
expenses are approved.

William J. Nolan, FTI's Senior Managing Director, assures the
Court that FTI is a "disinterested person" as that term is
defined in Section 101(14) of the Bankruptcy Code.

A hearing on the application will be held on July 13, 2012.
Objections are due on July 6.

                           About ResCap

Residential Capital LLC, the unprofitable mortgage subsidiary of
Ally Financial Inc., filed for bankruptcy protection (Bankr.
S.D.N.Y. Lead Case No. 12-12020) on May 14, 2012.

Neither Ally Financial nor Ally Bank is included in the bankruptcy
filings.

ResCap, one of the country's largest mortgage originators and
servicers, was sent to Chapter 11 with 50 subsidiaries amid
"continuing industry challenges, rising litigation costs and
claims, and regulatory uncertainty," according to a company
statement.

ResCap disclosed $15.68 billion in assets and $15.28 billion in
liabilities as of March 31, 2012.

ResCap is selling its mortgage origination and servicing
businesses to Nationstar Mortgage LLC, and its legacy portfolio,
consisting mainly of mortgage loans and other residual financial
assets, to Ally Financial.  Together, the asset sales are expected
to generate approximately $4 billion in proceeds.

Centerview Partners LLC and FTI Consulting are acting as financial
advisers to ResCap.  Morrison & Foerster LLP is acting as legal
adviser to ResCap.  Curtis, Mallet-Prevost, Colt & Mosle LLP is
the conflicts counsel.  Rubenstein Associates, Inc., is the public
relations consultants to the Company in the Chapter 11 case.
Morrison Cohen LLP is advising ResCap's independent directors.
Kurtzman Carson Consultants LLP is the claims and notice agent.

Ray C. Schrock, Esq., at Kirkland & Ellis LLP, in New York, serves
as counsel to Ally Financial.

Bankruptcy Creditors' Service, Inc., publishes RESIDENTIAL CAPITAL
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by affiliates of Residential Capital LLC and its
affiliates (http://bankrupt.com/newsstand/or 215/945-7000).


RESIDENTIAL CAPITAL: Hiring Centerview as Investment Banker
-----------------------------------------------------------
Residential Capital LLC and its affiliates seek the Court's
authority to employ Centerview Partners LLC as their investment
banker.

On October 18, 2011, prior to the Petition Date, the Debtors
engaged Centerview to provide general restructuring advice in
connection with the Debtors' attempts to complete a strategic
restructuring, reorganization, recapitalization and/or M&A
transaction and, if necessary, to prepare for the Debtors'
commencement of chapter 11 cases.

The Debtors want Centerview to continue to advise them in a
variety of matters, including, as reasonably requested:

   (a) reviewing and analyzing the Debtors' business, operations,
       and financial projections;

   (b) evaluating the Debtors' potential debt capacity in light
       of its projected cash flows;

   (c) assisting in the determination of a capital structure for
       the Debtors;

   (d) assisting in the determination of a range of estimated
       values for the Debtors on a going concern basis;

   (e) advising the Debtors on tactics and strategies for
       negotiating with the Stakeholders;

   (f) rendering financial advice to the Debtors and
       participating in meetings or negotiations with the
       Stakeholders and/or rating agencies or other appropriate
       parties in connection with any Restructuring;

   (g) advising the Debtors on the timing, nature, and terms of
       new securities, other consideration or other inducements
       to be offered pursuant to a Restructuring;

   (h) advising and assisting the Debtors in evaluating potential
       Financing transactions by the Debtors, and, subject to
       Centerview's agreement to so act and the execution of
       appropriate agreements, contacting potential sources of
       capital as the Debtors may designate and assisting the
       Debtors in implementing such a Financing;

   (i) assisting the Debtors in preparing documentation within
       Centerview's area of expertise that is required in
       connection with a Restructuring;

   (j) assisting the Debtors in identifying and evaluating
       candidates for a potential Sale Transaction6, advising the
       Debtors in connection with negotiations and aiding in the
       consummation of one or more Sale Transactions;

   (k) attending meetings of the Debtors' Board of Directors and
       its committees with respect to matters on which Centerview
       has been engaged to advise the Debtors;

   (l) providing testimony, as necessary, with respect to matters
       on which Centerview has been engaged to advise the Debtors
       in any proceeding before the Bankruptcy Court; and

   (m) providing (but only to the extent permitted by further
       orders of the Court) the Debtors with other financial
       restructuring advice as may be specifically agreed upon in
       writing by the Debtors and Centerview.

The Debtors propose to pay Centerview:

   (a) A monthly financial advisory fee of $300,000, payable on
       the first day of each month through the conclusion of the
       engagement; provided, that 50% of Monthly Advisory Fees
       paid subsequent to the Petition Date shall be credited
       against a Transaction Fee; provided further, that such
       credit will only apply proportionately to the extent that
       such fees are approved by the Bankruptcy Court.

   (b) A fee of $12,500,000, payable upon the consummation of a
       Restructuring or Sale Transaction that is consummated in
       Bankruptcy Court (the "Transaction Fee"); provided; that
       with respect to any Restructuring or Sale Transaction that
       is intended to be effected, in whole or in part, as a sale
       pursuant to Bankruptcy Code section 363 with a stalking
       horse bidder, or as a prepackaged, partial prepackaged, or
       prearranged plan of reorganization, which plan may include
       a Sale Transaction, the Transaction Fee shall be earned
       and payable (i) 50% upon, in the case of a sale pursuant
       to Bankruptcy Code section 363, execution of a stalking
       horse asset purchase agreement, or, in the case of a
       Prearranged Plan, upon obtaining indications of support
       from certain of the Company's key creditors that in the
       good faith judgment of the Board of Directors of the
       Company are sufficient to justify filing such Prearranged
       Plan, and (ii) 50% upon consummation of such Restructuring
       or Sale Transaction.

   (c) If the Debtors consummate any Financing, the Debtors will
       pay Centerview:

          (i) 1.0% of the aggregate amount of any indebtedness
              issued that is secured by a first lien;

         (ii) 3.0% of the aggregate amount of any indebtedness
              issued that (x) is secured by a second or junior
              lien, (y) is unsecured and/or (z) is subordinated;

        (iii) 5.0% of the aggregate amount of any equity or
              equity-linked securities or obligations issued; and

         (iv) 0.5% of the aggregate amount of any debtor-in-
              possession financing issued, plus 1.0% of the
              aggregate amount of any debtor-in-possession
              financing issued by new lenders, not to exceed
              $5,000,000 in the aggregate.

       Any fee(s) paid under subparagraphs (c)(i), (ii) or (iii)
       shall be 50% credited (but only once) against a
       Transaction Fee subsequently paid under paragraph (b).

       Any fee in excess of $500,000 paid out under subparagraph
       (c)(iv) shall be 50% credited against a Transaction Fee
       subsequently paid under paragraph (b).

   (d) If at any time during the term of Centerview's engagement
       or within the nine full months following the termination
       of the engagement the Debtors (i) receive a letter of
       intent to purchase all or substantially all of the
       Debtors' assets or (ii) receive a debtor-in-possession
       financing proposal, in either case, satisfactory to the
       Debtors, Centerview shall be due and paid a transaction
       fee equal to $1,200,000 (the "Interim Transaction Fee").

   (e) In addition to any fees that may be payable to Centerview
       and, regardless of whether any transaction occurs, the
       Debtors shall promptly reimburse Centerview for all: (A)
       reasonable documented production charges and out-of-pocket
       expenses (including travel and lodging, data processing
       and communications charges, courier services and other
       appropriate expenditures) and (B) other reasonably
       incurred fees and expenses, including expenses of counsel
       if engaged with the prior approval of the Debtors, which
       approval shall not be unreasonably withheld.

   (f) As part of the compensation payable to Centerview, the
       Debtors agree to the indemnification, contribution and
       other provisions in the Engagement Letter.

   (g) For the avoidance of doubt, if both a Restructuring and a
       Sale Transaction occur (in separate transactions or
       through a single transaction that meets both the
       definitions), the Company will be obligated to pay only
       one Transaction Fee. One or more fees pursuant to
       paragraph (c) may be payable in addition to a
       Restructuring Fee (subject to crediting).

Marc D. Puntus, a Partner and co-head of the Restructuring Group
of Centerview Partners LLC, assures the Court that based on the
firm's current knowledge of the professionals listed as Potential
Parties-in-Interest in the Debtors' Chapter 11 Cases, and to the
best of his knowledge, none of these business relations
constitute interests adverse to the Debtors.

Mr. Puntus disclosed that prior to the Petition Date, the Debtors
paid Centerview an aggregate of $2,900,000 in full payment of the
Monthly Advisory Fees for the months of October 2011 through May
2012 and $54,155 as reimbursement for Centerview's expenses
billed through May 13, 2012. In addition, the Debtors paid
Centerview $5,000,000 for the Financing Fee associated with the
$1.45 billion and $150 million debtor-in-possession financings
obtained by the Debtors, an Interim Transaction Fee of $1,200,000
and 50% of the Restructuring Fee ($6,250,000), all pursuant to
the terms of the Engagement Letter. Centerview also received an
expense retainer of $50,000.

Upon the completion of the proposed sales of the Debtors' legacy
loan portfolio and mortgage loan origination and servicing
businesses and assets, and/or other Restructuring, Centerview
will be entitled to receive the remaining 50% of the Transaction
Fee ($6,250,000), which amount is subject to crediting of certain
amounts pursuant to the terms of the Engagement Letter.

                           About ResCap

Residential Capital LLC, the unprofitable mortgage subsidiary of
Ally Financial Inc., filed for bankruptcy protection (Bankr.
S.D.N.Y. Lead Case No. 12-12020) on May 14, 2012.

Neither Ally Financial nor Ally Bank is included in the bankruptcy
filings.

ResCap, one of the country's largest mortgage originators and
servicers, was sent to Chapter 11 with 50 subsidiaries amid
"continuing industry challenges, rising litigation costs and
claims, and regulatory uncertainty," according to a company
statement.

ResCap disclosed $15.68 billion in assets and $15.28 billion in
liabilities as of March 31, 2012.

ResCap is selling its mortgage origination and servicing
businesses to Nationstar Mortgage LLC, and its legacy portfolio,
consisting mainly of mortgage loans and other residual financial
assets, to Ally Financial.  Together, the asset sales are expected
to generate approximately $4 billion in proceeds.

Centerview Partners LLC and FTI Consulting are acting as financial
advisers to ResCap.  Morrison & Foerster LLP is acting as legal
adviser to ResCap.  Curtis, Mallet-Prevost, Colt & Mosle LLP is
the conflicts counsel.  Rubenstein Associates, Inc., is the public
relations consultants to the Company in the Chapter 11 case.
Morrison Cohen LLP is advising ResCap's independent directors.
Kurtzman Carson Consultants LLP is the claims and notice agent.

Ray C. Schrock, Esq., at Kirkland & Ellis LLP, in New York, serves
as counsel to Ally Financial.

Bankruptcy Creditors' Service, Inc., publishes RESIDENTIAL CAPITAL
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by affiliates of Residential Capital LLC and its
affiliates (http://bankrupt.com/newsstand/or 215/945-7000).


RESIDENTIAL CAPITAL: Seeks to Employ Morrison as Legal Counsel
--------------------------------------------------------------
Residential Capital LLC and its affiliated debtors filed an
application to employ Morrison & Foerster LLP as their bankruptcy
counsel.

Residential Capital hired the firm to provide legal advice with
respect to its powers and duties as debtor-in-possession in the
continued operation of its businesses, and advise the company in
connection with the sale of its assets.

The firm will also provide tax advice to the company regarding
its restructuring, and represent Residential Capital in lawsuits
filed by or against the company.

Morrison will be paid for its services on an hourly basis and
will be reimbursed for its expenses.  The firm's professionals
who are expected to render the services and their hourly rates
are:

Professionals          Position                    Hourly Rate
-------------          --------                    -----------
Larren Nashelsky       Bankruptcy Partner              $975
Gary Lee               Bankruptcy Partner              $975
Lorenzo Marinuzzi      Bankruptcy Partner              $865
Norman Rosenbaum       Bankruptcy Partner              $800
Anthony Princi         Bankruptcy Partner              $975
Todd Goren             Bankruptcy Partner              $725
James Tanenbaum        Capital Markets Partner         $995
Jamie Levitt           Litigation Partner              $875
Joel Haims             Litigation Partner              $850
Kenneth Kohler         Capital Markets Sr. of Counsel  $760
Nilene Evans           Capital Markets Of Counsel      $760
Alexandra Barrage      Bankruptcy of Counsel           $695
Jordan Wishnew         Bankruptcy of Counsel           $680
Melissa Beck           Capital Markets Associate       $665
Renee Freimuth         Bankruptcy Associate            $665
Aaron Klein            Bankruptcy Associate            $665
John Pintarelli        Bankruptcy Associate            $655
Samantha Martin        Bankruptcy Associate            $595
Erica Richards         Bankruptcy Associate            $595
Stacy Molison          Bankruptcy Associate            $565
Naomi Moss             Bankruptcy Associate            $505
James Newton           Bankruptcy Associate            $445
Melissa Crespo         Bankruptcy Associate            $380
Laura Guido            Bankruptcy Paraprofessional     $280
John Kline             Bankruptcy Paraprofessional     $295

Larren Nashelsky, Esq., at Morrison, disclosed in a declaration
that the firm does not hold or represent interest adverse to
Residential Capital's estate.

A court hearing to consider approval of the application is
scheduled for July 13, 2012.  Objections are due by July 6, 2012.

                           About ResCap

Residential Capital LLC, the unprofitable mortgage subsidiary of
Ally Financial Inc., filed for bankruptcy protection (Bankr.
S.D.N.Y. Lead Case No. 12-12020) on May 14, 2012.

Neither Ally Financial nor Ally Bank is included in the bankruptcy
filings.

ResCap, one of the country's largest mortgage originators and
servicers, was sent to Chapter 11 with 50 subsidiaries amid
"continuing industry challenges, rising litigation costs and
claims, and regulatory uncertainty," according to a company
statement.

ResCap disclosed $15.68 billion in assets and $15.28 billion in
liabilities as of March 31, 2012.

ResCap is selling its mortgage origination and servicing
businesses to Nationstar Mortgage LLC, and its legacy portfolio,
consisting mainly of mortgage loans and other residual financial
assets, to Ally Financial.  Together, the asset sales are expected
to generate approximately $4 billion in proceeds.

Centerview Partners LLC and FTI Consulting are acting as financial
advisers to ResCap.  Morrison & Foerster LLP is acting as legal
adviser to ResCap.  Curtis, Mallet-Prevost, Colt & Mosle LLP is
the conflicts counsel.  Rubenstein Associates, Inc., is the public
relations consultants to the Company in the Chapter 11 case.
Morrison Cohen LLP is advising ResCap's independent directors.
Kurtzman Carson Consultants LLP is the claims and notice agent.

Ray C. Schrock, Esq., at Kirkland & Ellis LLP, in New York, serves
as counsel to Ally Financial.

Bankruptcy Creditors' Service, Inc., publishes RESIDENTIAL CAPITAL
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by affiliates of Residential Capital LLC and its
affiliates (http://bankrupt.com/newsstand/or 215/945-7000).


RESIDENTIAL CAPITAL: Taps Mallet-Prevost as Conflicts Counsel
-------------------------------------------------------------
Residential Capital LLC and its affiliates seek the Court's
authority to employ Curtis, Mallet-Prevost, Colt & Mosle LLP, as
conflicts counsel effective as of the Petition Date.

The Debtors believe the retention of Curtis will enhance the
ability of Morrison & Foerster LLP as their lead counsel to
represent them generally and assist them in carrying out their
duties.

Curtis will render professional services to the Debtors for
certain discrete matters, which may include these services, in
connection with matters where MoFo or other counsel to the
Debtors may not be able to act as a result of an actual or
potential conflict of interest:

  a. advise the Debtors with respect to their powers and duties
     as debtors-in-possession in the continued management and
     operation of their businesses and properties;

  b. attend meetings and negotiate with representatives of
     creditors and other parties in interest;

  c. take necessary action to protect and preserve the Debtors'
     estates, including prosecuting actions on the Debtors'
     behalf, defending any action commenced against the Debtors
     and representing the Debtors' interests in negotiations
     concerning litigation in which the Debtors are involved,
     including objections to claims filed against the estates;

  d. prepare motions, applications, answers, orders, appeals,
     reports and papers necessary to the administration of the
     Debtors' estates;

  e. take any necessary action on behalf of the Debtors to obtain
     approval of a disclosure statement and confirmation of one
     or more Chapter 11 plans;

  f. represent the Debtors in connection with obtaining
     postpetition financing, including use of cash
     collateral;

  g. advise the Debtors in connection with any potential sale of
     assets;

  h. appear before the Court, any appellate courts and the U.S.
     Trustee, and protect the interests of the Debtors' estates
     before those Courts and the U.S. Trustee;

  i. consult with the Debtors regarding tax matters; and

  j. perform all other legal services for the Debtors in
     connection with these cases.

The Debtors will pay for Curtis' services at the firm's current
hourly rates, which are:

           Partners                  $730 to $830
           Counsel                   $510 to $625
           Associates                $300 to $590
           Paraprofessionals         $190 to $230
           Managing Clerks           $450
           Other Support Personnel    $55 to $325

The firm will also charge the Debtors reasonable expenses
incurred with its contemplated services.

Steven J. Reisman, Esq., a partner at Curtis, assures the Court
that his firm does not hold or represent any interests adverse to
the Debtors, their creditors, or any other party-in-interest, or
their attorneys.  Curtis is a 'disinterested person,' as that
phrase is defined under Section 101(14) of the Bankruptcy Code,
he asserts.

                           About ResCap

Residential Capital LLC, the unprofitable mortgage subsidiary of
Ally Financial Inc., filed for bankruptcy protection (Bankr.
S.D.N.Y. Lead Case No. 12-12020) on May 14, 2012.

Neither Ally Financial nor Ally Bank is included in the bankruptcy
filings.

ResCap, one of the country's largest mortgage originators and
servicers, was sent to Chapter 11 with 50 subsidiaries amid
"continuing industry challenges, rising litigation costs and
claims, and regulatory uncertainty," according to a company
statement.

ResCap disclosed $15.68 billion in assets and $15.28 billion in
liabilities as of March 31, 2012.

ResCap is selling its mortgage origination and servicing
businesses to Nationstar Mortgage LLC, and its legacy portfolio,
consisting mainly of mortgage loans and other residual financial
assets, to Ally Financial.  Together, the asset sales are expected
to generate approximately $4 billion in proceeds.

Centerview Partners LLC and FTI Consulting are acting as financial
advisers to ResCap.  Morrison & Foerster LLP is acting as legal
adviser to ResCap.  Curtis, Mallet-Prevost, Colt & Mosle LLP is
the conflicts counsel.  Rubenstein Associates, Inc., is the public
relations consultants to the Company in the Chapter 11 case.
Morrison Cohen LLP is advising ResCap's independent directors.
Kurtzman Carson Consultants LLP is the claims and notice agent.

Ray C. Schrock, Esq., at Kirkland & Ellis LLP, in New York, serves
as counsel to Ally Financial.

Bankruptcy Creditors' Service, Inc., publishes RESIDENTIAL CAPITAL
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by affiliates of Residential Capital LLC and its
affiliates (http://bankrupt.com/newsstand/or 215/945-7000).


RG STEEL: Objects to Enviros' Exemption Claim to Ch. 11 Stay
------------------------------------------------------------
Jamie Santo at Bankruptcy Law360 reports that RG Steel LLC on
Tuesday knocked environmental groups seeking an exemption from the
firm's automatic stay, saying their motion misconstrues legal
concepts they cite as grounds for relief.

Bankruptcy Law360 relates that the objection, filed Tuesday in
Delaware bankruptcy court, says environmental advocates
misinterpreted the concepts of a "police power exemption" and
"equitable relief" in a June 22 motion to modify RG Steel's
bankruptcy stay so the groups could appeal a federal court
decision limiting RG Steel's obligations to monitor contamination
at its Sparrows Point, Md., mill.

                         About RG Steel

RG Steel LLC -- http://www.rg-steel.com/-- is the United States'
fourth-largest flat-rolled steel producer with annual steelmaking
capacity of 7.5 million tons.  It was formed in March 2011
following the purchase of three steel facilities located in
Sparrows Point, Maryland; Wheeling, West Virginia and Warren,
Ohio, from entities related to Severstal US Holdings LLC.  RG
Steel also owns finishing facilities in Yorkville and Martins
Ferry, Ohio.  It also owns Wheeling Corrugating Company and has a
50% ownership in Mountain State Carbon and Ohio Coatings Company.

RG Steel along with affiliates, including WP Steel Venture LLC,
sought bankruptcy protection (Bankr. D. Del. Lead Case No. 12-
11661) on May 31, 2012, to pursue a sale of the business.  The
bankruptcy was precipitated by liquidity shortfall and a dispute
with Mountain State Carbon, LLC, and a Severstal affiliate, that
restricted the shipment of coke used in the steel production
process.

The Debtors estimated assets and debts in excess of $1 billion as
of the Chapter 11 filing.  The Debtors owe (i) $440 million,
including $16.9 million in outstanding letters of credit, to
senior lenders led by Wells Fargo Capital Finance, LLC, as
administrative agent, (ii) $218.7 million to junior lenders, led
by Cerberus Business Finance, LLC, as agent, (iii) $130.5 million
on account of a subordinated promissory note issued by majority
owner The Renco Group, Inc., and (iv) $100 million on a secured
promissory note issued by Severstal.

Judge Kevin J. Carey presides over the case.

The Debtors are represented in the case by Robert J. Dehney, Esq.,
and Erin R. Fay, Esq., at Morris, Nichols, Arsht & Tunnell LLP,
and Matthew A. Feldman, Esq., Shaunna D. Jones, Esq., Weston T.
Eguchi, Esq., at Willkie Farr & Gallagher LLP, represent the
Debtors.

Conway MacKenzie, Inc., serves as the Debtors' financial advisor
and The Seaport Group serves as lead investment banker.  Donald
MacKenzie of Conway MacKenzie, Inc., as CRO.  Kurtzman Carson
Consultants LLC is the claims and notice agent.

Wells Fargo Capital Finance LLC, as Administrative Agent, is
represented by Jonathan N. Helfat, Esq., and Daniel F. Fiorillo,
Esq., at Otterbourg, Steindler, Houston & Rosen, P.C.; and Laura
Davis Jones, Esq., and Timothy P. Cairns, Esq., at Pachuiski Stang
Ziehi & Jones LLP.

Renco Group is represented by lawyers at Cadwalader, Wickersham &
Taft LLP.

An official committee of unsecured creditors has been appointed in
the case.

The bankruptcy court has approved the sale of a non-operating
plant in Steubenville, Ohio, for $15 million.


RITZ CAMERA: Proposes GOB Sales at 59 Stores
--------------------------------------------
Stephanie Gleason at Dow Jones' DBR Small Cap reports that Ritz
Camera & Image LLC is closing 82 of its 265 locations and is
asking the bankruptcy court's permission to hold going-out-of-
business sales at 59 stores in an effort to improve its overall
profitability.

                         About Ritz Camera

Beltsville, Maryland-based Ritz Camera & Image LLC --
http://www.ritzcamera.com-- sells digital cameras and
accessories, and electronic products.  It sought Chapter 11
protection (Bankr. D. Del. Case No. 12-11868) on June 22, 2012, to
close unprofitable stores.  Ritz claims to be the largest camera
and image chain the U.S., operating 265 camera stores in 34 states
as well as an Internet business.  Ritz Camera intends to shut 128
locations and cut its staff in half.  Included in the closing are
10 locations in Maryland and 4 in Virginia.

Affiliate Ritz Interactive Inc., owner e-commerce Web sites that
include RitzCamera.com and BoatersWorld.com, also filed for
bankruptcy.

RCI's predecessor, Ritz Camera Centers, Inc., sought Chapter 11
protection (Bankr. D. Del. Case No. 09-10617) on Feb. 22, 2009.
Ritz generated $40 million by selling all 129 Boater's World
Marine Centers.  A group that included the company's chief
executive officer, David Ritz, formed Ritz Camera & Image to buy
at least 163 of the remaining 375 camera stores.  The group paid
$16.25 million in cash and a $7.8 million note.  Later, Ritz sold
a $4 million account receivable for $1.5 million to an owner of
the company that owed the debt.

In the 2009 petition, Ritz disclosed total assets of $277 million
and total debts of $172.1 million.  Lawyers at Cole, Schotz,
Meisel, Forman & Leonard, P.A., served as bankruptcy counsel.
Thomas & Libowitz, P.A., served as the Debtor's special corporate
counsel and conflicts counsel.  Marc S. Seinsweig, at FTI
Consulting, Inc., served as the Debtor's chief restructuring
officer.  Kurtzman Carson Consultants LLC acted as claims and
noticing agent.  Attorneys at Cooley Godward Kronish LLP and
Bifferato LLC represented the official committee of unsecured
creditors as counsel.

In April 2010, the Court approved a liquidating Chapter 11 plan
proposed by the company and the official creditor's committee.
Under the Plan, unsecured creditors were to recover 4% to 14% of
their claims.

In the 2012 petition, RCI estimated total assets and liabilities
of $50 million to $100 million.  The Debtors owe not less than
$16.32 million for term and revolving loans provided by secured
lenders led by Crystal Finance LLC, as administrative agent.

Attorneys at Cole, Schotz, Meisel, Forman & Leonard, P.A., serve
as bankruptcy counsel.  Kurtzman Carson Consultants LLC is the
claims agent.

WeinsweigAdvisors LLC's Marc Weinsweig has been appointed as
Ritz's CRO.

Mark L. Desgrosseilliers, Esq., and Ericka F. Johnson, Esq., at
Womble Carlyle Sandridge & Rice, LLP, represent liquidators Gordon
Brothers Retail Partners LLC and Hilco Merchant Resources LLC.

Crystal Finance, the DIP lender, is represented by Morgan, Lewis &
Bockius and Young Conaway Stargatt & Taylor LLP.


RIVER POINT: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: River Point Golf Club, LLC
        801 River Pointe Drive
        Albany, GA 31701

Bankruptcy Case No.: 12-10963

Chapter 11 Petition Date: July 2, 2012

Court: United States Bankruptcy Court
       Middle District of Georgia (Albany)

Debtor's Counsel: Wesley J. Boyer, Esq.
                  KATZ, FLATAU, POPSON AND BOYER, LLP
                  355 Cotton Avenue
                  Macon, GA 31201
                  Tel: (478) 742-6481
                  E-mail: wjboyer_2000@yahoo.com

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

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

A copy of the Company's list of its 20 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/gamb12-10963.pdf

The petition was signed by Jos Bekkers, sole member.


ROYAL SEATING: School & Library Furniture Maker in Chapter 11
-------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reported that Royal Seating LLC, a manufacturer of school and
library furniture, filed a petition for Chapter 11 reorganization.
Based in Cameron, Texas, Royal has been family-owned since 1968,
according to the company's Web site.  Court papers state there is
$3 million in unsecured debt and a $4 million disputed secured
claim.

Royal Seating, LLC, doing business as Uscapes and Spotlight
Seating, filed a Chapter 11 petition (Bankr. W.D. TX. Case No.
12-60693) on June 28, 2012.  The Debtor is represented by Larry E.
Kelly, Esq., at Dickson & Squires, LLP.  See
http://bankrupt.com/misc/txwb12-60693.pdf

The Debtor estimated assets of more than $1 billion and
liabilities of up to $10 million in its Chapter 11 petition.


SEP RIVERPARK: Equity Holder Proposes Competing Plan
----------------------------------------------------
Jennifer Price, the 100% equity security holder of the SEP
Riverpark Plaza LLC, proposed a Plan of Reorganization for the
resolution of all outstanding claims against, and equity interests
in, the Debtor.  The payments due under the Plan on the Effective
Date will be funded from:

    (i) the assets of the Debtor and its Estate, which include,
        among other things, funds held in one or more deposit
        accounts; and

   (ii) to the extent necessary, draws to be made by the
        Disbursing Agent or Reorganized Debtor upon a line of
        credit in the amount of $3.0 million to be provided by
        Edward Snyder or an affiliate to be designated by him.

An initial draw of $2.5 million on the Line of Credit will be
placed in a trust account, prior to the confirmation hearing date,
for the benefit of the Reorganized Debtor, and will be retained,
subject to the occurrence of the Confirmation and Effective Dates,
for purposes of Plan consummation and ongoing operations.

Upon the occurrence of the Effective Date, the Reorganized Debtor
will be managed by its Manager -- Macco Properties Inc. -- and its
appointed officers, and thereafter according to the corporate
governance provisions of the Debtor's Operating Agreement.  The
initial officers of reorganized Macco are expected to be Lew
McGinnis and Jennifer Price.

The classification and treatment of claims under the Plan:

     A. Class 1 (Secured Claim of FAA Credit Union) will receive
        on account of its Claim (i) payment of all accrued but
        unpaid interest through the Effective Date, at the rate(s)
        provided for in the subject credit facility, and (ii)
        payment of compensation for any damages as a result of the
        Creditor's reasonable reliance upon any default under the
        credit facility including all charges, fees, and
        penalties.  The obligation of the Debtor to the Class 1
        Creditor will mature 18 calendar months from the Effective
        Date.  During the 18-month period, the Reorganized Debtor
        will make monthly payments of (i) the interest that
        accrues under the subject credit facility, and (ii) 1/12
        of the annual ad valorem taxes owing with respect to the
        real property in which the Creditor has a mortgage lien
        interest.

     B. Class 2 (Secured Claim of All-America Bank) will be paid
        in full as provided for in the subject credit facility,
        with interest accrued to the date of payment at the
        rate(s) provided for in the subject credit facility.  The
        Claim will be paid (i) not later than the Effective Date
        if Allowed by the date, or (ii) if not finally Allowed on
        the Effective Date, then within 10 days after the entry of
        a Final Order allowing the Claim.

     C. Class 3 (Priority Tenant Deposit Claims) will be paid in
        full in cash (i) on the Effective Date if Allowed by such
        date, or (ii) if not finally Allowed on the Effective
        Date, then within 10 days after the entry of a Final Order
        allowing the Claim.  The Reorganized Debtor will maintain
        a tenant deposit escrow account, as required by applicable
        non-bankruptcy law, and pay all presently contingent
        and/or unmatured tenant deposit claims when due.

     D. Class 4 (General Unsecured Claims) will be paid in full in
        cash (i) on the Effective Date if Allowed by the date, or
        (ii) if not finally Allowed on the Effective Date, then
        within 10 days after the entry of a Final Order allowing
        the Claim.

     E. Class 5 (Equity Security) will continue to be held by
        reorganized Macco, and will not be extinguished.

                   About SEP Riverpark Plaza

Oklahoma City, Oklahoma-based SEP Riverpark Plaza, L.L.C., aka
Riverpark Plaza Apartments, filed for Chapter 11 bankruptcy
protection (Bankr. W.D. Okla. Case No. 10-16832) on Nov. 11, 2010.
According to its schedules, the Debtor disclosed $19.17 million in
total assets and $12.03 million in total liabilities.  On Jan. 13,
2011, Judge Sarah A. Hall authorized the Debtor's employment of
Hiersche Law Firm as its bankruptcy counsel.


SHENGDATECH INC: Files Amended Chapter 11 Plan
----------------------------------------------
BankruptcyData.com reports that ShengdaTech, Inc., filed with the
U.S. Bankruptcy Court an Amended Chapter 11 Plan and First Amended
Disclosure Statement.

According to the Disclosure Statement, "The primary objectives of
the Plan are to: (i) maximize the value of the ultimate recovery
to all Creditors and Holders of Equity Interests on a fair and
equitable basis, compared to the value they would receive if the
assets of the Debtor were liquidated under chapter 7 of the
Bankruptcy Code; and (ii) settle, compromise or otherwise dispose
of certain Claims and Equity Interests on terms believed to be
fair, reasonable and in the best interests of the Debtor, the
Debtor's Creditors and its Holders of Equity Interests. The Debtor
believes that through the Plan, Holders of Allowed Claims and
Allowed Equity Interests will obtain a recovery at least equal to,
if not better than, any recovery they would receive if the assets
of the Debtor were liquidated under chapter 7 of the Bankruptcy
Code."

The Court has scheduled an Aug. 30, 2012, on the matter.

                         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 by the Troubled Company Reporter 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.

The Plan provides for the wind-down of the Debtor's affairs and
the Distribution of the Debtor's remaining assets to Creditors.


SKINNY NUTRITIONAL: Enters Into $15 Million Financing with Trim
---------------------------------------------------------------
Trim Capital LLC and Skinny Nutritional Corp. have agreed to a
financing transaction involving the issuance of $9,000,000 of
preferred and common stock and a $6,000,000 senior secured credit
facility.  At the initial closing, Skinny Nutritional sold a
$1,000,000 senior secured bridge note.

"The investment Trim Capital is making in Skinny Water will give
the Company the capital to execute its growth plan.  Having access
to this capital will allow us to accelerate our marketing and
brand initiatives, add new product lines under the Skinny
Nutritional Corp. umbrella of Skinny trademarks and build
inventory levels to satisfy the demand for our products," said
Michael Salaman, CEO of Skinny Nutritional Corp.

Trim Capital LLC's Managing Partner, Marc Cummins states "Skinny
Water is exactly the type of investment we look for - one with the
perfect combination of a solid consumer proposition, a healthy
distribution system and a robust product pipeline that will
continue to deliver great-tasting and healthy products to the
marketplace."

The financing is structured to occur in three separate closings,
with each of the second and third closings subject to certain
conditions.  Upon the Third Closing, Trim Capital will acquire
$9,000,000 of equity units consisting of shares of a newly
authorized series of redeemable senior preferred stock and shares
of common stock equal to 65% of the fully diluted shares of common
stock of the Company.  In addition, at the third closing Trim
Capital will provide the Company with a $6,000,000 senior secured
credit facility.

At the first closing which was completed on June 28, 2012, the
Company sold a $1,000,000 senior secured bridge note to Trim
Capital.  At the second closing, which is anticipated to occur
within 45 days, Trim Capital will purchase an additional
$3,000,000 of securities of the Company, consisting of a
combination of an additional senior secured bridge note and equity
units consisting of preferred and common stock.  At the third
closing, the bridge notes sold at the first and second closings
will convert into equity units, and, in addition, Trim Capital
will purchase $5,000,000 of additional equity units such that,
after the third closing, Trim Capital will own $9,000,000 of
redeemable senior preferred stock and 65% of the fully diluted
shares of common stock of the Company.

The second closing is subject to customary closing conditions, as
well as, the negotiation of the final terms of the senior secured
credit facility and the filing of a proxy statement with the
Securities and Exchange Commission relating to an annual meeting
of stockholders to vote on, among other things, the authorization
of sufficient shares of preferred stock and common stock to issue
at the third closing.  The third closing is subject to customary
closing conditions, as well as stockholder approval of various
matters relating to the transaction.

The senior preferred stock to be issued at the second closing will
have no voting rights at the time of its issuance at the second
closing; provided that, at the third closing, the holders of the
senior preferred stock issued at the second and third closings
will be entitled to elect four members of an expanded seven-member
board of directors and will have certain protective provisions
requiring the consent of the holders of the preferred stock for
certain corporate actions.

The Board of Directors of the Company has approved the
transactions consummated at the first closing and the transactions
to be consummated at the second and third closings, subject to,
among other things, the finalization of the documents relating to
the preferred stock and the proposed senior secured credit
facility. Michael Salaman, the Company's CEO and a director, is a
minority investor in Trim Capital.  Bryant Park Capital initiated
the transaction and served as the exclusive financial advisor to
Skinny Nutritional Corp. throughout the transaction.

Trim Capital LLC is affiliated with Prime Capital, LLC, a private
investment firm that assists consumer companies in financing
operations and expansion.  Trim's objective is to assist Skinny
Water in building its brand by providing strategic, branding and
marketing expertise, as well as, operational support.

Skinny Nutritional Corp. holds an extensive portfolio of
trademarks for Skinny products and has a planned roll-out schedule
that is expected to fuel significant growth.  More information
about upcoming launches will be detailed in the coming months.

The current Skinny Water lineup features six great-tasting
flavors, including Acai Grape Blueberry (Hi-Energy), Raspberry
Pomegranate (Crave Control), Lemonade Passionfruit (Total-V),
Orange Cranberry Tangerine (Wake Up), Pink Citrus (Power), and
Goji Black Cherry (Shape).  Every bottle of Skinny Water has key
electrolytes, antioxidants, and vitamins and ZERO calories, ZERO
sugar, and ZERO sodium, ZERO carbohydrates and contains no
preservatives, with all natural colors and flavors.

                     About Skinny Nutritional

Bala Cynwyd, Pa.-based Skinny Nutritional Corp. (OTC BB: SKNY.OB)
-- http://www.SkinnyWater.com/-- has developed and is marketing a
line of enhanced waters, all branded with the name "Skinny Water"
that are marketed and distributed primarily to calorie and weight
conscious consumers.

The Company reported a net loss of $7.66 million in 2011, compared
with a net loss of $6.91 million in 2010.

The Company's balance sheet at March 31, 2012, showed
$2.15 million in total assets, $4.62 million in total liabilities,
all current, and a $2.47 million stockholders' deficit.

In its audit report for the 2011 financial statements, Marcum LLP,
in Bala Cynwyd, Pennsylvania, expressed substantial doubt about
the Company's ability to continue as a going concern.  The
independent auditors noted that the Company had a working capital
deficiency of $3.17 million, an accumulated deficit of
$45,492,945, stockholders' deficit of $1.74 million and no cash on
hand.  The Company had net losses of $7.67 million and $6.91
million for the years ended Dec. 31, 2011, and 2010, respectively.
Additionally, the Company is currently in arrears under its
obligation for the purchase of trademarks.  Under the agreement,
the seller of the trademarks may choose to exercise their legal
rights against the Company's assets, which includes the
trademarks.


SPRING HILL: Case Summary & 5 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Spring Hill Mobile Partners, LLC
        5400 Riverside Drive, Suite 203
        Macon, GA 31210

Bankruptcy Case No.: 12-51767

Chapter 11 Petition Date: July 2, 2012

Court: United States Bankruptcy Court
       Middle District of Georgia (Macon)

Debtor's Counsel: Matthew S. Cathey, Esq.
                  STONE & BAXTER, LLP
                  577 Mulberry Street
                  Suite 800
                  Macon, GA 31201
                  Tel: (478) 750-9898
                  Fax: (478) 750-9899
                  E-mail: mcathey@stoneandbaxter.com

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

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

A copy of the Company's list of its five largest unsecured
creditors filed together with the petition is available for free
at http://bankrupt.com/misc/gamb12-51767.pdf

The petition was signed by Jerry L. Stephens, president of J&S
Acquisitions, Inc., general partner of WCDM Development, L.P.


STEREOTAXIS INC: Files Form S-1; Registers 28.1MM Common Shares
---------------------------------------------------------------
Stereotaxis, Inc., filed with the U.S. Securities and Exchange
Commission a Form S-1 registration statement relating to the offer
and sale, from time to time, of up to 28,193,451 shares of the
Company's common stock, par value $0.001 per share, of the Company
which includes 6,506,181 shares of the Company's common stock
issuable to Alafi Capital Company LLC, Sanderling Venture Partners
VI Co-Investment Fund, L.P., Franklin Strategic Series - Franklin
Small-Mid Cap Growth Fund, et al., upon the exercise of warrants
to purchase of the Company's common stock, by the selling
stockholders.  The shares and the warrants were issued in
connection with that certain Stock and Warrant Purchase Agreement
dated as of May 7, 2012, between Stereotaxis and the selling
stockholders.  The Company will not receive any proceeds from the
sale of the shares, but, assuming exercise of all warrants to
which the shares relate, the Company will receive up to $2,186,727
in proceeds from the exercise of the warrants prior to those
sales, which proceeds would be used for general corporate
purposes.

The Company's common stock is listed on the Nasdaq Global Market
under the symbol "STXS."  On May 22, 2012, the last reported sale
price for the Company's common stock on the Nasdaq Global Market
was $0.28 per share.

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

                        http://is.gd/vNDQVV

                         About Stereotaxis

Based in St. Louis, Mo., Stereotaxis, Inc., designs, manufactures
and markets the Epoch Solution, which is an advanced remote
robotic navigation system for use in a hospital's interventional
surgical suite, or "interventional lab", that the Company believes
revolutionizes the treatment of arrhythmias and coronary artery
disease by enabling enhanced safety, efficiency and efficacy for
catheter-based, or interventional, procedures.

For the year ended Dec. 31, 2011, Ernst & Young LLP, in St. Louis,
Missouri, expressed substantial doubt about Stereotaxis' ability
to continue as a going concern.  The independent auditors noted
that the Company has incurred recurring operating losses and has a
working capital deficiency.

The Company reported a net loss of $32.0 million for 2011,
compared with a net loss of $19.9 million for 2010.

The Company's balance sheet at March 31, 2012, showed
$36.79 million in total assets, $60.16 million in total
liabilities, and a $23.36 million total stockholders' deficit.


STOCKTON, CA: Attorneys Say City Deserves Bankruptcy Protection
---------------------------------------------------------------
Katy Stech at Dow Jones' Daily Bankruptcy Review reports that less
than a week after economically depressed Stockton, Calif.,
collapsed into bankruptcy in the largest-ever Chapter 9 case for a
city, its attorneys are fighting for the San Francisco suburb to
stay under protection -- and vowing to fend off any attempt to
have its case tossed from bankruptcy court.

                      About Stockton, Calif.

The City of Stockton, California, filed a Chapter 9 petition
(Bankr. E.D. Calif. Case No. 12-32118) in Sacramento on June 28,
2012, becoming the largest city to seek creditor protection in
U.S. history.  The city was forced to file for bankruptcy after
talks with bondholders and labor unions failed.  Stockton
estimated more than $1 billion in assets and in excess of $500
million in liabilities.

The city, with a population of about 300,000, identified the
California Public Employees Retirement System as the largest
unsecured creditor with a claim of $147.5 million for unfunded
pension costs.  In second place is Wells Fargo Bank NA as trustee
for $124.3 million in pension obligation bonds.  The list of
largest creditors includes $119.2 million owing on four other
series of bonds.

The city is being represented by Marc A. Levinson, Esq., at
Orrick, Herrington & Sutcliffe LLP.  The petition was signed by
Robert Deis, city manager.

Mr. Levinson also represented the city of Vallejo, Calif. in its
2008 bankruptcy.  Vallejo filed for protection under Chapter 9
(Bankr. E.D. Calif. Case No. 08-26813) on May 23, 2008.  It
estimated $500 million to $1 billion in assets and $100 million to
$500 million in debts in its petition.  In August 2011, Vallejo
was given green light to exit the municipal reorganization.   The
Chapter 9 plan restructures $50 million of publicly held debt
secured by leases on public buildings.  Although the Plan doesn't
affect pensions, it adjusts the claims and benefits of current and
former city employees.  Bankruptcy Judge Michael McManus released
Vallejo from bankruptcy on Nov. 1, 2011.


STRATEGIC CAPITAL: Judge Dismisses $2MM Fraudulent Transfer Suit
---------------------------------------------------------------
Jeremy Heallen at Bankruptcy Law360 reports that U.S. District
Judge Lee Yeakel on Monday dismissed a lawsuit alleging Strategic
Capital Resources Inc. fraudulently transferred more than $2
million to avoid paying investment firm Fulcrum Credit Partners
LLC in a contract dispute over claims against a bankrupt
homebuilder, finding the case should not have been filed in Texas.


TC GLOBAL: Delays Fiscal 2012 Annual Report
-------------------------------------------
TC Global, Inc., is unable to file its annual report on Form 10-K
for the period ended April 1, 2012, within the prescribed time
period without unreasonable effort and expense because the time
and resources of the Company's limited finance and accounting
staff have been diverted from the Company's normal process of
preparing and reviewing the Form 10-K due to matters involving the
Company's international operations.  The Company expects to file
its Form 10-K on or before July 17, 2012.

                          About TC Global

TC Global, Inc., dba Tully's Coffee, is a specialty coffee
retailer and wholesaler.  Through company owned, licensed and
franchised specialty retail stores in Washington, Oregon,
California, Arizona, Idaho, Montana, Colorado, Wyoming and Utah,
throughout Asia with Tully's Coffee International, and with its
global alliance partner Tully's Coffee Japan, Tully's premium
coffees are available at nearly 600 branded retail locations
globally, including more than 200 in the United States.  TC Global
also has the rights to distribute Tully's coffee through all
wholesale channels internationally, outside of North America, the
Caribbean and Japan. TC Global's corporate headquarters is located
at 3100 Airport Way S, in Seattle, Washington.  See
http://www.TullysCoffeeShops.com

The Company reported a net loss attributable to TC Global, Inc.,
of $5.21 million on $38.26 million of net sales for the year ended
April 3, 2011, compared with a net loss attributable to TC Global,
Inc., of $5.19 million on $39.57 million of net sales for the year
ended March 28, 2010.

The Company's balance sheet at July 3, 2011, showed $8.27 million
in total assets, $16.48 million in total liabilities and a $8.21
million total stockholders' deficit.

In the auditors' report accompanying the financial statements for
year ended April 3, 2011, Moss Adams LLP, in Seattle, Washington,
expressed substantial doubt about the Company's ability to
continue as a going concern.  The independent auditors noted that
the Company has suffered recurring losses and has limited working
capital to fund operations.


TPF GENERATION: S&P Affirms 'B' Rating on $495MM 2nd Lien Loan
--------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook on TPF
Generation Holdings LLC's $495 million second-lien term loan due
2014 to developing from negative and affirmed the 'B' rating on
the loan.

"We also revised our recovery rating to '1' from '3'. In addition,
we withdrew the 'BB' rating on TPF's first-lien $850 million
senior secured term loan subsequent to its repayment. There
remains a synthetic first-lien letter of credit with $50 million
in outstanding commitments, and we affirmed the 'B' rating and
outlook on that debt," S&P said.

The outlook revision reflects the potential for a leverage
covenant trip in 2013. TPF Generation sold its Rio Nogales power
plant in April 2012 and used proceeds to repay about $255 million
of the first-lien term loan and about $84 million of the second-
lien term loan apart from cash collateralizations for the first-
lien letter of credit and other costs.

With this the project has now fully repaid the first-lien term
loan, and the outstanding amount under the second-lien loan is
about $411 million (about $298/kilowatt) as of April 2012.

"Two items that affect the project's credit profile are refinance
risk and the potential for a covenant trip in 2013. Under our base
case assumptions, we forecast that when the outstanding term loan
matures, the project will have about $189/kilowatt of debt
outstanding," S&P said.

"We believe that the project should be able to refinance this
amount given recent sale prices for peaking plants in the PJM
Interconnection region and current valuations for combined-cycle
gas turbines," said Standard & Poor's credit analyst Theodore
Dewitt.

"The remaining risk is the potential for a leverage covenant trip
in 2013. The second-lien term loan that remains outstanding is
subject to a maximum leverage covenant of 5x. In our base case
assumptions, the project exceeds this covenant in 2013. The force
behind the potential covenant trip is the uncertain size of
resource adequacy payments received at the portfolio's High Desert
asset," S&P said.

"We base the developing outlook on the ratings on the project's
exposure to yet undetermined resource adequacy payments at the
High Desert plant in 2013, which could cause a covenant trip. With
the repayment of the first-lien term debt, the potential for not
paying debt service is greatly reduced, but it's possible the
project trip a leverage covenant in 2013 if resource adequacy
payments don't increase. If the project successfully executes
contracts for merchant capacity payments at about $14 million or
greater in 2013 at High Desert, and this brings the leverage ratio
through 2014 to below 5x in our base case scenario, we would
consider an upgrade. We could lower the rating if operating
performance deteriorates or if the project cannot secure
sufficiently high resource adequacy payments," S&P said.


TRANS-LUX CORP: Stockholders Elected Salvatore Zizza as Director
----------------------------------------------------------------
The annual meeting of stockholders of Trans-Lux Corporation was
held on June 26, 2012.  At the Annual Meeting, the stockholders
approved the following proposals:

* To amend and restate the Corporation's Restated Certificate
  of Incorporation, as amended, to, among other things:

   (a) increase authorized shares and reduce the par value of the
       Corporation's common stock, par value $1.00 and reduce the
       par value of the Corporation's Preferred Stock, par value
       $1.00;

   (b) remove Class A Stock, par value $1.00, from authorized
       capital stock;

   (c) remove Class B Stock, par value $1.00, from authorized
       capital stock;

   (d) conform other provisions of Article Fourth of the
       Corporation's Restated Certificate of Incorporation, as
       amended, to reflect items (b) and (c) above, update certain
       provisions of Article Fourth and set the voting power of
       the Common Stock;

   (e) update certain provisions of the Corporation's Restated
       Certificate of Incorporation, as amended (including
       replacing Article Third thereof with a one-sentence
       statement of the Company's purpose and replacing Article
       Fifth thereof with certain provisions relating to the
       Company's directors); and

   (f) update certain provisions of Article Eighth of the
       Corporation's Restated Certificate of Incorporation, as
       amended;

* To amend the Corporation's Restated Certificate of
  Incorporation, as amended, to repeal the super-majority voting
  requirements contained in (a) Articles Ninth and Tenth thereof,
  (b) Article Fourth thereof and (c) Article Twelfth thereof;

* To approve the adoption of the 2012 Long-Term Incentive Plan;

* To elect Salvatore Zizza as director of the Company; and

* To ratify the retention of BDO USA, LLP, as the independent
  registered public accounting firm for the Corporation.

                    About Trans-Lux Corporation

Norwalk, Conn.-based Trans-Lux Corporation (NYSE Amex: TLX) is a
designer and manufacturer of digital signage display solutions for
the financial, sports and entertainment, gaming and leasing
markets.

The Company reported a net loss of $1.42 million in 2011, compared
with a net loss of $7.03 million in 2010.

The Company's balance sheet at March 31, 2012, showed
$26.72 million in total assets, $24.45 million in total
liabilities, $6.13 million in redeemable convertible preferred
stock, and a $3.86 million total stockholders' deficit.


VALENCE TECHNOLOGY: Incurs $12.7 Million Net Loss in Fiscal 2012
----------------------------------------------------------------
Valence Technology, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-K disclosing
a net loss of $12.73 million on $44.38 million of revenue for the
year ended March 31, 2012, a net loss of $12.68 million on $45.88
million of revenue for the year ended March 31, 2011, and a net
loss of $23.01 million on $16.08 million of revenue for the year
ended March 31, 2010.

The Company reported a net loss available to common stockholders
of $2.70 million on $13.32 million of total revenues for the three
months ended March 31, 2012, compared with a net loss available to
common stockholders of $2.53 million on $13.90 million of total
revenues for the same period a year ago.

The Company's balance sheet at March 31, 2012, showed $31.52
million in total assets, $82.63 million in total liabilities,
$8.61 million in redeemable convertible preferred stock and a
$59.71 million total stockholders' deficit.

PMB Helin Donova, LLP, in Austin, Texas, issued a "going concern"
qualification on the consolidated financial statements for the
year ended March 31, 2012, citing recurring losses from
operations, negative cash flows from operations and net
stockholders' capital deficiency which raised substantial doubt
about the Company's ability to continue as a going concern.

"We have seen continued progress with commercial motive customers
such as Segway, PVI, Optare, and Electric Vehicles International.
During the past year, we also expanded our business into a number
of sectors, with particular success in the industrial/medical
sector where we now supply systems to significant corporations
such as Rubbermaid Medical and Howard Technology.  Additionally,
we have developed strong relationships with customers in the
motive and back-up power sectors who see value through the return
on investment our advanced U-Charge family of lithium phosphate
batteries offer.  Looking to the future, we are confident that our
experience, quality, and engineering support will continue to
distinguish Valence in our growing markets," said Robert L.
Kanode, president and chief executive officer of Valence
Technology.

                         Bankruptcy Warning

The Company said in the fiscal 2012 annual report that it cannot
achieve a competitive cost structure, achieve profitability, and
acquire access to capital markets on acceptable terms, the Company
will be unable to fund its obligations and sustain its operations,
and may be required to liquidate its assets, cease operations or
file for bankruptcy protection.

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

                       http://is.gd/bMP4BV

                     About Valence Technology

Austin, Texas-based Valence Technology, Inc. (NASDAQ: VLNC) --
http://www.valence.com/-- is a global leader in the development
of safe, long-life lithium iron magnesium phosphate energy storage
solutions and provides the enabling technology behind some of the
world's most innovative and environmentally friendly applications.
Valence Technology has its Research & Development Center in
Nevada, its Europe/Asia Pacific Sales office in Northern Ireland
and global fulfillment centers in North America and Europe.


VENUS HOSPITALITY: Case Summary & 9 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Venus Hospitality, LLC
        dba Super 8 Orange
        dba Motel 6
        2710 I-10 West
        Orange, TX 77632

Bankruptcy Case No.: 12-10414

Chapter 11 Petition Date: July 2, 2012

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

Debtor's Counsel: Frank J. Maida, Esq.
                  MAIDA LAW FIRM
                  4320 Calder Avenue
                  Beaumont, TX 77706-4631
                  Tel: (409) 898-8200
                  Fax: (409) 898-8400
                  E-mail: maidalawfirm@gt.rr.com

Scheduled Assets: $1,590,137

Scheduled Liabilities: $3,121,179

A copy of the Company's list of its nine largest unsecured
creditors is vailable for free at
http://bankrupt.com/misc/txeb12-10414.pdf

The petition was signed by Girirajan Mohan, member-manager.

Related entities that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Girirajan Mohan and Ragini Prajapati   12-10415   07/02/12


VHGI HOLDINGS: Inks 3rd Amendment to Platinum Note Purchase Pact
----------------------------------------------------------------
Lily Group, Inc., and Platinum Partners Credit Opportunities
Master Fund LP entered into a third amendment to the Note Purchase
Agreement as of June 15, 2012, which extended the termination date
of the Note Purchase Agreement to Aug. 10, 2012, in exchange for
Lily's agreement to pay Platinum the sum of $250,000 upon the
Termination Date.  In addition, the third amendment provides that
the payment to Platinum of $550,000 for the second amendment is
deferred until the Termination Date and in consideration for this
deferral Lily agreed to pay Platinum the additional sum of
$100,000 on or before July 9, 2012, plus Platinum's legal fees for
the second and third amendments.

VHGI Coal, Inc., which is a wholly owned subsidiary of VHGI
Holdings, Inc., entered into a Stock Purchase Agreement with Lily,
pursuant to which VHGI Coal agreed to purchase all outstanding
shares of Lily's common stock.  The transactions contemplated by
the Stock Purchase Agreement closed on Feb. 16, 2012, with Lily
becoming a wholly owned subsidiary of VHGI Coal.

As a condition of closing of the Stock Purchase Agreement, Lily
was required to pay off and refinance certain debt.  In order to
do so, contemporaneously with the closing of the stock purchase,
Lily entered into a Note Purchase Agreement with Platinum,
pursuant to which Lily issued a 12% secured promissory note in the
original principal amount of $13,000,000.

                        About VHGI Holdings

Fort Worth, Tex.-based VHGI Holdings, Inc., is a holding company
with revenue streams from the following business segments: (a)
precious metals (b) oil and gas (c) coal and (d) medical
technology.

In the auditors' report accompanying the financial statements for
year ended Dec. 31, 2011, Siler & Hardy, P.C., in Salt Lake City,
Utah, expressed substantial doubt about VHGI Holdings' ability to
continue as a going concern.  The independent auditors noted that
the Company has incurred substantial losses and has a working
capital deficit.

The Company reported a net loss of $5.43 million on $499,600 of
revenues for 2011, compared with a net loss of $1.67 million on
$482,300 of revenues for 2010.

The Company's balance sheet at Dec. 31, 2011, showed $7.22 million
in total assets, $9.12 million in total liabilities, and a
stockholders' deficit of $1.90 million.


WA ROUTE 9: PAF Capital LLC Sues for Fraud
------------------------------------------
PAF Capital LLC filed several claims against Jacob Frydman and WA
Route 9, LLC relating to fraud Mr. Frydman is alleged to have
committed in connection with the settlement of Mr. Frydman's
breach of a personal guaranty of a $12 million loan.  PAF Capital
also asserted claims against WA Route 9 and its members and
managers in connection with WA Route 9's default on its loan with
PAF Capital and the members' and managers' defaulted on their
guarantees of that loan.

The lawsuit alleges that Mr. Frydman defaulted on his personal
guaranty of a $12 million loan PAF Capital made to McDonald Ave.
Acquisition LLC.  The suit claims that after defaulting on his
guaranty, Mr. Frydman represented to PAF Capital that he could not
afford to honor his guaranty and provided PAF Capital with what
they now believe are fraudulent financial statements in an effort
to get PAF Capital to settle with Mr. Frydman for a significant
haircut.

PAF Capital also held a $600,000.00 loan made to WA Route 9A, LLC
and Mr. Frydman personally guaranteed that loan.  In spite of PAF
Capital's repeated extensions of the maturity date of this loan,
the suit alleges that in September 2010 WA Route 9 defaulted on
that loan and Mr. Frydman defaulted on his guaranty and that to
date, PAF Capital has not been paid back any of the money borrowed
by WA Route 9A and guaranteed by Mr. Frydman.

Jacob Frydman is in the process of forming a public fund-raising
vehicle registered with the SEC under the name United Realty Trust
Incorporated.

PAF Capital's claims against WA Route 9A and Mr. Frydman seek
almost $5 million damages.


WASHINGTON MUTUAL: Shareholder Objects to Weil Gotshal's Fees
-------------------------------------------------------------
Amanda Bransford at Bankruptcy Law360 reports that a Washington
Mutual Inc. shareholder sharply objected Tuesday in Delaware
bankruptcy court to Weil Gotshal & Manges LLP's request for almost
$77.4 million in attorneys' fees for its representation of the
debtor, saying the firm was charging exorbitant rates and padding
the hours it billed.

Shareholder David Shutvet said Weil's blended attorney rate of
$882 an hour was well above the appropriate rate that should have
been applied using the so-called Laffey Matrix fee range
established by the case Laffey v. Northwest Airlines Inc.,
according to Bankruptcy Law360.

                      About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- was the holding company for Washington
Mutual Bank as well as numerous non-bank subsidiaries.

Washington Mutual Bank was taken over on Sept. 25, 2008, by U.S.
government regulators.  The next day, WaMu and its affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  WaMu owns
100% of the equity in WMI Investment.  When WaMu filed for
protection from its creditors, it disclosed assets of
$32,896,605,516 and debts of $8,167,022,695.  WMI Investment
estimated assets of $500 million to $1 billion with zero debts.

WaMu is represented by Brian Rosen, Esq., at Weil, Gotshal &
Manges LLP in New York City; Mark D. Collins, Esq., at Richards,
Layton & Finger P.A. in Wilmington, Del.; and Peter Calamari,
Esq., and David Elsberg, Esq., at Quinn Emanuel Urquhart Oliver &
Hedges, LLP.  The Debtor tapped Valuation Research Corporation as
valuation service provider for certain assets.

Fred S. Hodara, Esq., at Akin Gump Strauss Hauer & Fled LLP in New
York, and David B. Stratton, Esq., at Pepper Hamilton LLP in
Wilmington, Del., represent the Official Committee of Unsecured
Creditors. Stephen D. Susman, Esq., at Susman Godfrey LLP and
William P. Bowden, Esq., at Ashby & Geddes, P.A., represent the
Equity Committee.  The official committee of equity security
holders also tapped BDO USA as its tax advisor. Stacey R.
Friedman, Esq., at Sullivan & Cromwell LLP and Adam G. Landis,
Esq., at Landis Rath & Cobb LLP in Wilmington, Del., represent
JPMorgan Chase, which acquired the WaMu bank unit's assets prior
to the Petition Date.

In March 2012, the Debtors' Seventh Amended Joint Plan of
Affiliated, as modified, and as confirmed by order, dated Feb. 23,
2012, became effective, marking the successful completion of the
chapter 11 restructuring process.

The Plan is based on a global settlement that removed opposition
to the reorganization and remedy defects the judge identified in
September.  The plan is designed to distribute $7 billion.  Under
the reorganization plan, WaMu established a liquidating trust to
make distributions to parties-in-interest on account of their
allowed claims.


WESTMORELAND COAL: Has $20MM Revolving Facility with PrivateBank
----------------------------------------------------------------
Westmoreland Coal Company has entered into a five-year, $20.0
million revolving credit facility with The PrivateBank and Trust
Company as contemplated and allowed for under the provisions of
the indenture governing its outstanding 10.750% Senior Secured
Notes due 2018.

Westmoreland Mining, LLC, its wholly owned subsidiary, has
successfully amended its existing Note Purchase Agreement dated
June 26, 2008 and its Amended and Restated Credit Agreement dated
June 26, 2008.  The amendments, which are mirrored in both
documents, modify the pension funding requirement and amend the
leverage and debt service coverage ratios, providing the company
with increased flexibility.

"We took the current favorable interest rate environment as an
opportunity to enter into a long term revolving credit facility,"
said Keith E. Alessi, Westmoreland's Chief Executive Officer.
"While we have no immediate plans to draw upon the facility, it
will provide us with increased financial flexibility and
liquidity.  The amendments to the WML agreements adjust our ratios
and funding requirements to more closely reflect the quarterly
fluctuations in our business and the impact of the current low
interest rate environment on pension valuations.  Westmoreland is
fortunate to be in a highly liquid position and have financial
flexibility.  We appreciate the continuing support of our lenders
and look forward to working with The PrivateBank."

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

                        http://is.gd/RmB7Ce

                      About Westmoreland Coal

Colorado Springs, Colo.-based Westmoreland Coal Company (NYSE
AMEX: WLB) -- http://www.westmoreland.com/-- is the oldest
independent coal company in the United States.  The Company's coal
operations include coal mining in the Powder River Basin in
Montana and lignite mining operations in Montana, North Dakota and
Texas.  Its power operations include ownership of the two-unit
ROVA coal-fired power plant in North Carolina.

The Company reported a net loss of $36.87 million in 2011, a net
loss of $3.17 million in 2010, and a net loss of $29.16 million
in 2009.

The Company's balance sheet at March 31, 2012, showed $955 million
in total assets, $1.20 billion in total liabilities and a $249.08
million total deficit.

                           *     *     *

In March 2011, Standard & Poor's Ratings Services said that it
assigned a 'CCC+' corporate credit rating to Colorado Springs,
Colorado-based Westmoreland Coal Co.  In January 2012, S&P revised
its outlook on Westmoreland to positive from stable and affirmed
its 'CCC+' credit rating.

"The outlook revision reflects our expectation that the
acquisition, improved reserve position, and stronger coal pricing
could bring WLB's credit metrics in line with a higher rating over
the next several quarters," said Standard & Poor's credit analyst
Gayle Bowerman.

The rating and outlook for WLB also incorporate the combination of
what S&P considers to be its 'vulnerable' business risk profile
and 'highly leveraged' financial risk profile.  The ratings also
reflect WLB's high-cost position in the Powder River Basin (PRB)
and Texas, relatively short reserve life, high customer
concentration, challenges posed by the inherent risks of coal
mining, and liquidity that's less than adequate to meet the
company's near-term obligations.


WESTMORELAND COAL: Six Directors Elected at Annual Meeting
----------------------------------------------------------
The annual meeting of stockholders of Westmoreland Coal Company
was held at the Skybridge Conference Room at The Crowne Plaza
Hotel, Billings, Montana, on May 22, 2012.  The stockholders
elected six directors to the Board of Directors to serve for a
one-year term, namely: (1) Keith E. Alessi, (2) Michael R.
D'Appolonia, (3) Gail E. Hamilton, (4) Richard M. Klingaman, (5)
Jan B. Packwood, and (6) Robert C. Scharp.  The stockholders voted
in favor of an advisory vote on executive compensation.  The
stockholders approved the amendments to the Amended and Restated
2007 Equity Incentive Plan for Employees and Non-Employee
Directors and ratified the appointment by the Audit Committee of
Ernst & Young LLP as principal independent auditor for fiscal year
2012.

In light of the stockholder vote in 2011, the Company has
determined that it will hold a non-binding advisory vote to
approve the Company's compensation of its named executive officers
as disclosed in its annual meeting proxy statement every year
until it next holds a non-binding stockholder advisory vote on the
frequency with which the Company should hold future say-on-pay
votes, which vote will appear in the 2014 proxy statement.

                      About Westmoreland Coal

Colorado Springs, Colo.-based Westmoreland Coal Company (NYSE
AMEX: WLB) -- http://www.westmoreland.com/-- is the oldest
independent coal company in the United States.  The Company's coal
operations include coal mining in the Powder River Basin in
Montana and lignite mining operations in Montana, North Dakota and
Texas.  Its power operations include ownership of the two-unit
ROVA coal-fired power plant in North Carolina.

The Company reported a net loss of $36.87 million in 2011, a net
loss of $3.17 million in 2010, and a net loss of $29.16 million
in 2009.

The Company's balance sheet at March 31, 2012, showed $955 million
in total assets, $1.20 billion in total liabilities and a $249.08
million total deficit.

                           *     *     *

In March 2011, Standard & Poor's Ratings Services said that it
assigned a 'CCC+' corporate credit rating to Colorado Springs,
Colorado-based Westmoreland Coal Co.  In January 2012, S&P revised
its outlook on Westmoreland to positive from stable and affirmed
its 'CCC+' credit rating.

"The outlook revision reflects our expectation that the
acquisition, improved reserve position, and stronger coal pricing
could bring WLB's credit metrics in line with a higher rating over
the next several quarters," said Standard & Poor's credit analyst
Gayle Bowerman.

The rating and outlook for WLB also incorporate the combination of
what S&P considers to be its 'vulnerable' business risk profile
and 'highly leveraged' financial risk profile.  The ratings also
reflect WLB's high-cost position in the Powder River Basin (PRB)
and Texas, relatively short reserve life, high customer
concentration, challenges posed by the inherent risks of coal
mining, and liquidity that's less than adequate to meet the
company's near-term obligations.


W.R. GRACE: Garlock Takes Plan Appeal to Third Circuit
------------------------------------------------------
Garlock Sealing Technologies, LLC, notified the U.S. District
Court for the District of Delaware that it will take an appeal to
the United States Court of Appeals for the Third Circuit from
Judge Ronald L. Buckwalter's memorandum opinion and order entered
on June 11, 2012, overruling all objections and confirming W.R.
Grace & Co. and its debtor affiliates' Joint Plan of
Reorganization in its entirety.

As reported by the Troubled Company Reporter, on Jan. 30, 2012,
District Judge Buckwalter affirmed the Jan. 31, 2011 order
confirming the Joint Plan issued by Bankruptcy Judge Judith
Fitzgerald.  Numerous parties-in-interest filed motions to
reconsider, alter and clarify the Affirmation Order.  Various
appeals have also been filed.

Judge Buckwalter issued on June 11, 2012, an amended memorandum
opinion and order overruling all objections and confirming Grace's
Joint Plan of Reorganization in its entirety.

To address the request of the Plan Proponents to amend the
Memorandum Opinion, the joint motion of Sealed Air Corporation,
Cryovac, Inc., and Fresenius Medical Care Holdings, Inc., to amend
and clarify the Memorandum Opinion and Order and the Libby
Claimants' response, Judge Buckwalter filed a consolidated order
granting the motions, and amended the Memorandum Opinion and
Order.  Appellant Garlock Sealing Technologies, LLC's motion for
reargument, rehearing, and to alter or amend is also granted.

The Amended Memorandum Opinion and Order includes additional
language clarifying that all injunctions and releases in the Joint
Plan, and not merely the injunction under Section 524(g) of the
Bankruptcy Code are approved, issued and affirmed.

Upon consideration of Garlock's Motion, Judge Buckwalter changed
the Memorandum Opinion's section entitled "Garlock's Objections to
the Joint Plan" to reflect the District Court's consideration of
the arguments put forth by Garlock and Grace during an oral
argument on May 8, 2012, and in their briefing submitted to the
District Court.

A full-text copy of the Amended Memorandum Opinion is available
for free at:

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

                         About W.R. Grace

Headquartered in Columbia, Maryland, W.R. Grace & Co. (NYSE:GRA)
-- http://www.grace.com/-- supplies catalysts and silica
products, especially construction chemicals and building
materials, and container products globally.

The company and its debtor-affiliates filed for chapter 11
protection on April 2, 2001 (Bankr. D. Del. Case No. 01-01139).
David M. Bernick, P.C., Esq., at Kirkland & Ellis, LLP, and Laura
Davis Jones, Esq., at Pachulski Stang Ziehl & Jones, LLP,
represent the Debtors in their restructuring efforts.  The Debtors
hired Blackstone Group, L.P., for financial advice.
PricewaterhouseCoopers LLP is the Debtors' accountant.

Stroock & Stroock & Lavan, LLP, and Duane Morris, LLP, represent
the Official Committee of Unsecured Creditors.  The Creditors
Committee tapped Capstone Corporate Recovery LLC for financial
advice.  David T. Austern, the legal representative of future
asbestos personal injury claimants, is represented by Orrick
Herrington & Sutcliffe LLP and Phillips Goldman & Spence, PA.
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, and Marla
R. Eskin, Esq., at Campbell & Levine, LLC, represent the Official
Committee of Asbestos Personal Injury Claimants.  The Asbestos
Committee of Property Damage Claimants tapped Scott Baena, Esq.,
and Jay M. Sakalo, Esq., at Bilzin Sumberg Baena Price & Axelrod,
LLP, to represent it.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel, LLP, represents the Official Committee of
Equity Security Holders.

W.R. Grace obtained confirmation of a plan co-proposed with the
Official Committee of Asbestos Personal Injury Claimants, the
Official Committee of Equity Security Holders, and the Asbestos
Future Claimants Representative.   The Chapter 11 plan is built
around an April 2008 settlement for all present and future
asbestos personal injury claims, and a subsequent settlement for
asbestos property damage claims.  Implementation of the Plan has
been held up by appeals in District Court from various parties,
including a group of prepetition bank lenders and the Official
Committee of Unsecured Creditors.

District Judge Ronald Buckwalter on Jan. 31, 2012, entered an
order affirming the bankruptcy court's confirmation of W.R. Grace
& Co. and its debtor affiliates' Plan of Reorganization.
Bankruptcy Judge Judith Fitzgerald had approved the Plan on
Jan. 31, 2011.

On April 20, 2012, the company filed a motion with the
Bankruptcy Court to approve the definitive agreements among
itself, co-proponents of the Plan, BNSF railroad, several
insurance companies and the representatives of Libby asbestos
personal injury claimants, to settle objections to the Plan.
Pursuant to the agreements, the Libby claimants and BNSF would
forego any further appeals to the Plan.

Bankruptcy Creditors' Service, Inc., publishes W.R. Grace
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by W.R. Grace, W.R. Grace Co. - Conn. and their
affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000)


W.R. GRACE: W.D. Pa. Court Defers to Delaware District Court
------------------------------------------------------------
District Judge Nora Barry Fischer in the Western District of
Pennsylvania declined to rule on three of the 12 separate appeals
initiated by Garlock Sealing Technologies, LLC, from Bankruptcy
Judge Judith K. Fitzgerald's Memorandum Opinion and Order issued
October 7, 2011, denying Garlock's motions to access records in
asbestos-related Chapter 11 bankruptcies of:

     -- Pittsburgh Corning; North American Refractories; and
        Mid-Valley Inc., which are pending before the Bankruptcy
        Court for the Western District of Pennsylvania; and

     -- Owens Corning; Armstrong World Industries, et al.;
        W.R. Grace & Co.; USG Corp. et al.; United States Mineral
        Products Company; Kaiser Aluminum Corp.; ACandS Inc.;
        Combustion Engineering Inc.; Flintkote Company, which are
        pending before the Bankruptcy Court for the District of
        Delaware.

The consolidated opinion and order resolved motions filed by
Garlock in nine bankruptcy cases in the Delaware Bankruptcy Court
and three bankruptcies in the Western District of Pennsylvania
Bankruptcy Court.

This procedural nuance is possible because Judge Fitzgerald is
assigned to hear bankruptcy cases in both Bankruptcy Courts.
Garlock filed 12 separate appeals of Judge Fitzgerald's rulings,
including three appeals pending before the Western District of
Pennsylvania District Court and nine appeals in the Delaware
District Court.

Garlock admits that its appeals are identical in that they all
challenge the same rulings by the Bankruptcy Court and raise the
same arguments on appeal.  The substance of Garlock's briefing in
the two fora appears virtually indistinguishable, aside from
required changes to the case caption and parties in each case.
Garlock's appeals focus on its desire to access Fed.R.Bankr.P.
Rule 2019 statements filed by creditor committees and law firms in
the bankruptcy cases.  The parties with an actual interest in the
12 appeals include Garlock, law firms and creditor committees,
while the 12 debtors have more of a tangential interest in
avoiding Garlock's attempts to intervene in their respective
cases.

Judge Fischer said she will exercise discretion and stay the three
proceedings pending disposition of the appeals before the Delaware
District Court.

Judge Fischer cited, among others, the need to avoid duplicative
litigation.  Judge Fischer said the parties could have stipulated
to a transfer of the WDPA appeals to Delaware or alternatively,
reached a stipulation wherein the parties in the WDPA appeals
would agree to be bound by the decision from District Judge
Leonard P. Stark, who is assigned to the Delaware appeals.  Judge
Fischer also noted that, after the stay is lifted, Judge Stark's
decision will likely be very persuasive to the WDPA Court.
According to Judge Fischer, based on her review of the litigation,
it appears that any decision rendered at the District Court level,
whether it be issued by Judge Stark or Judge Fischer, will be
further appealed to the United States Court of Appeals for the
Third Circuit.  As such, there is simply no benefit to having two
separate District Courts analyze this case simultaneously.

A copy of Judge Fischer's Memorandum Opinion dated June 21 is
available at http://is.gd/znOx6dfrom Leagle.com.

                         About W.R. Grace

Headquartered in Columbia, Maryland, W.R. Grace & Co. (NYSE:GRA)
-- http://www.grace.com/-- supplies catalysts and silica
products, especially construction chemicals and building
materials, and container products globally.

The company and its debtor-affiliates filed for chapter 11
protection on April 2, 2001 (Bankr. D. Del. Case No. 01-01139).
David M. Bernick, P.C., Esq., at Kirkland & Ellis, LLP, and Laura
Davis Jones, Esq., at Pachulski Stang Ziehl & Jones, LLP,
represent the Debtors in their restructuring efforts.  The Debtors
hired Blackstone Group, L.P., for financial advice.
PricewaterhouseCoopers LLP is the Debtors' accountant.

Stroock & Stroock & Lavan, LLP, and Duane Morris, LLP, represent
the Official Committee of Unsecured Creditors.  The Creditors
Committee tapped Capstone Corporate Recovery LLC for financial
advice.  David T. Austern, the legal representative of future
asbestos personal injury claimants, is represented by Orrick
Herrington & Sutcliffe LLP and Phillips Goldman & Spence, PA.
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, and Marla
R. Eskin, Esq., at Campbell & Levine, LLC, represent the Official
Committee of Asbestos Personal Injury Claimants.  The Asbestos
Committee of Property Damage Claimants tapped Scott Baena, Esq.,
and Jay M. Sakalo, Esq., at Bilzin Sumberg Baena Price & Axelrod,
LLP, to represent it.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel, LLP, represents the Official Committee of
Equity Security Holders.

W.R. Grace obtained confirmation of a plan co-proposed with the
Official Committee of Asbestos Personal Injury Claimants, the
Official Committee of Equity Security Holders, and the Asbestos
Future Claimants Representative.   The Chapter 11 plan is built
around an April 2008 settlement for all present and future
asbestos personal injury claims, and a subsequent settlement for
asbestos property damage claims.  Implementation of the Plan has
been held up by appeals in District Court from various parties,
including a group of prepetition bank lenders and the Official
Committee of Unsecured Creditors.

District Judge Ronald Buckwalter on Jan. 31, 2012, entered an
order affirming the bankruptcy court's confirmation of W.R. Grace
& Co. and its debtor affiliates' Plan of Reorganization.
Bankruptcy Judge Judith Fitzgerald had approved the Plan on
Jan. 31, 2011.

On April 20, 2012, the company filed a motion with the
Bankruptcy Court to approve the definitive agreements among
itself, co-proponents of the Plan, BNSF railroad, several
insurance companies and the representatives of Libby asbestos
personal injury claimants, to settle objections to the Plan.
Pursuant to the agreements, the Libby claimants and BNSF would
forego any further appeals to the Plan.

Bankruptcy Creditors' Service, Inc., publishes W.R. Grace
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by W.R. Grace, W.R. Grace Co. - Conn. and their
affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000)


WRENA LLC: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Wrena, LLC
        26980 Trolley Industrial Drive
        Taylor, MI 48180

Bankruptcy Case No.: 12-55748

Chapter 11 Petition Date: June 30, 2012

Court: United States Bankruptcy Court
       Eastern District of Michigan (Detroit)

Judge: Steven W. Rhodes

Debtor's Counsel: Elias Xenos, Esq.
                  THE XENOS LAW FIRM, PLC
                  261 E. Maple Rd.
                  Birmingham, MI 48009
                  Tel: (248) 812-9495
                  Fax: (248) 498-6272
                  E-mail: etx@XenosLawFirm.Com

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

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

A copy of the Company's list of its 20 largest unsecured creditors
is available for free at http://bankrupt.com/misc/mieb12-55748.pdf

The petition was signed by Nagesh Palakurthi, managing member.


XIANBURG DATA: Receives TSX Delisting Notice
--------------------------------------------
Xianburg Data Systems Canada Corporation disclosed that the TSX
Venture Exchange has notified the Company of the TSXV's intention
to delist the Company from the NEX at the close of market on
Sept. 14, 2012.  The TSXV has notified the Company that it may
avoid the delisting of its shares if, prior to the Delisting Date,
the Company has (a) filed on SEDAR and with the securities
commissions all outstanding financial statements; and (b) the
Company has obtained a revocation of all outstanding Cease Trade
Orders issued against the Company.

The Company has filed with the securities commissions all
financial statements which have been required to be filed under
applicable securities laws including audited financial statements
for the financial years ended Dec. 31, 2010 and 2011, so there are
no outstanding financial statements to be filed.  The Company is
working closely with its advisors to address the requirements and
conditions of the British Columbia Securities Commission ("BCSC")
to revoking the Cease Trade Order issued on May 10, 2011 (the
"CTO").  The BCSC has advised the Company that as one of the
conditions to revoking the CTO, it will require a third year of
audited financial statements.  The BCSC does not regard the fiscal
2009 audited financial statements as being accompanied by a clean
audit opinion since there was a restatement of those financial
statements when the audited financial statements for fiscal 2010
were issued.  The Company had planned to have its current auditor,
Manning Elliott LLP, prepare an audit opinion in respect of the
financial year ended Dec. 31, 2009, to satisfy the BCSC
requirement. In order to do this, the Company's former auditor, Lo
Porter Hetu, would be required to withdraw its audit opinion
prepared in respect of the 2009 financial statements.
Unfortunately, the Company's former auditor has refused to
cooperate in this matter.  As such, the Company is currently
unable to confirm whether it will be in a position to successfully
address the BCSC's requirements and conditions to obtain a
revocation of the CTO before the TSXV delists the Company from
NEX.

Jingping Dong, the Chief Executive Officer of the Company, states,
"The delisting of the Company from the NEX under these
circumstances is regrettable and frustrating for all shareholders.
I want to assure shareholders that the Company is committed to
fulfilling its on-going reporting requirements and is doing
everything it can get the CTO lifted as fast as possible."  The
Company is continuing to address comments raised by the BCSC in
respect of its past continuous disclosure filings, and it is also
actively exploring and considering all of its options with the aim
of having the CTO revoked at the earliest time and of having the
Company's shares listing on a recognized exchange.

                     About Xianburg Data Systems

The Company, through its wholly-owned subsidiary Xianburg Data
Systems (Canada) Inc., governs and administers the operating
entity XID, a Chinese based operating company, and will earn
substantially all of its income from XID.  XID is an IT products
and services firm with offices in Xi'an and Beijing and it is
recognized as a leader in China in providing mass data storage and
disaster recovery IT solutions.  XID's core business is data entry
with a specialty of converting paper documents to electronic
format (digitization) and it also manufactures high-performance,
high-capacity storage systems for the archiving and publication of
such documents.


ZALE CORP: Incurs $4.5 Million Net Loss in March 31 Quarter
-----------------------------------------------------------
Zale Corporation reported a net loss of $4.52 million on $445.17
million of revenue for the three months ended April 30, 2012,
compared with a net loss of $8.99 million on $411.84 million of
revenue for the same period a year ago.

The Company reported a net loss of $7.56 million on $1.45 billion
of revenue for the nine months ended April 30, 2012, compared with
a net loss of $79.66 million on $1.36 billion of revenue for the
same period during the prior year.

The Company's balance sheet at April 30, 2012, showed $1.22
billion in total assets, $1.01 billion in total liabilities and
$202.13 million in stockholders' investment.

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

                       http://is.gd/SF2bCu

                      About Zale Corporation

Based in Dallas, Texas, Zale Corporation (NYSE: ZLC) --
http://www.zalecorp.com/-- is a specialty retailer of diamonds
and other jewelry products in North America, operating
approximately 1,900 retail locations throughout the United States,
Canada and Puerto Rico, as well as online. Zale Corporation's
brands include Zales Jewelers, Zales Outlet, Gordon's Jewelers,
Peoples Jewellers, Mappins Jewellers and Piercing Pagoda.  Zale
also operates online at http://www.zales.com/,
http://www.zalesoutlet.com/,
http://www.gordonsjewelers.com/and http://www.pagoda.com/


* Moody's Says REIT Ruling Neg. for Skilled Nursing Facilities
--------------------------------------------------------------
The recent US Supreme Court ruling to uphold the constitutionality
of key provisions of the Patient Protection and Affordable Care
Act (PPACA) is a positive development for healthcare REITs owning
medical office buildings, as demand for them should rise, but
negative for those with properties housing skilled nursing
facilities, as PPACA contains provisions to curtail growth in
Medicare payments to these facilities says Moody's Investors
Service.

"Regardless of PPACA, reimbursement to skilled nursing facilities
will remain at risk as part of the government's broader initiative
to curtail spending," says Lori Marks, a Moody's Assistant Vice
President - Analyst and author of "Healthcare REITs: Supreme Court
Ruling Positive for Medical Office Buildings, Negative for Skilled
Nursing Facilities."

"Despite these pressures, we note that the magnitude of any future
rate cuts would need to be severe in order to impact REIT rents,"
says Ms. Marks.

For the medical office buildings (MOBs), the expansion in medical
coverage set to begin in 2014 under PPACA will bring more
individuals into a healthcare system in which MOBs play an
increasingly important role. MOBs serve doctors who focus on
preventive care and provide outpatient procedures that would
otherwise be conducted in more costly hospital settings.

"Given their increasingly important role in the continuum of care,
we expect MOBs to remain stable and profitable investments for
REITs," says Moody's Ms. Marks.

The best performance will be from those MOBs that are affiliated
with leading health systems and located on or near their
respective campuses, says Moody's. Off-campus, smaller MOBs are at
risk of becoming less relevant in a post-reform era that dictates
more coordinated care, which is better performed at a hospital
campus setting.

Moody's views the healthcare REITs as generally well positioned to
handle the direction healthcare is moving even should PPACA be
repealed after the November elections.

"We believe that the trends emphasizing quality and efficiency of
care are underway, irrespective of the PPACA, and the REITs are
positioning their real estate portfolios accordingly," says Marks.
"The REITs' abilities to partner with leading operators who are
adapting to the changes as well as appropriately underwrite
reimbursement risks, will be a key driver of their credit
strength."


* Feds Release 'Living Will' Outlines for 9 Big Banks
-----------------------------------------------------
Evan Weinberger at Bankruptcy Law360 reports that U.S. bank
regulators on Tuesday released the public outlines of company-
written plans for winding down the nine largest banks, should they
fail, in a relatively safe and quick manner.

Each of the nine banks that submitted the so-called living wills
to the Federal Reserve and the Federal Deposit Insurance Corp.
provided brief snapshots of their capital and liquidity positions,
as well as their funding and business structures, Bankruptcy
Law360 relates.


* Bernstein Law Firm Changes Name to Bernstein-Burkley
------------------------------------------------------
Bernstein Law Firm, P.C., has now changed its name to Bernstein-
Burkley, P.C.

"Kirk Burkley has become such a significant force in our business
and in the community in general that we wanted to make it clear
that he is part of the future of our firm," said Bob Bernstein,
managing partner of the firm.  "When Joe Bernstein started this
firm so long ago, he knew that it would grow and change with the
generations. Joe would be just as thrilled as we are with this
change"

"I'm looking forward to the future and what exciting things lie
ahead for the firm," Kirk Burkley, partner-in-charge of the
Bankruptcy and Restructuring group explains.  "We offer the
knowledge and experience of larger law firms, yet our size allows
us to retain the quality and commitment to service our clients are
used to.  I am honored to be recognized by the firm in this way."

Bernstein-Burkley, P.C. -- http://www.bernsteinlaw.com/-- is a
highly regarded and respected law firm based in Pennsylvania with
a national reach in Bankruptcy & Restructuring, Oil and Gas and in
Creditors' Rights.


* Jeremy R. Bloor Joins McDonald Hopkins' West Palm Beach Office
----------------------------------------------------------------
Jeremy R. Bloor has joined the West Palm Beach office of McDonald
Hopkins LLC as an Associate in the Litigation Department of the
business advisory and advocacy law firm.  His practice will focus
on commercial litigation.

Bloor has extensive experience managing commercial litigation
cases in all phases - from filing of complaint to conclusion of
appeal.  Prior to entering private practice, he served as a law
clerk to the Honorable G. Kendal Sharp, Senior U.S. District Judge
for the Middle District of Florida.  Bloor graduated from the
University of Florida in 2005 with a Bachelor of Arts degree in
English and a Bachelor of Science degree in finance and received
his J.D. in 2009 from the University of Virginia School of Law.
He served as executive editor for the Virginia Tax Review and was
a quarterfinalist in the William B. Spong Invitational Moot Court
Competition.

"We are lucky to have Jeremy join our Firm," said John T. Metzger,
Managing Member of McDonald Hopkins' West Palm Beach office.  "His
prior experience as a Federal Judicial Clerk and commercial
litigator will add another dimension to our talented group of
attorneys."

              Jeremy R. Bloor
              Tel: 561.472.2967
              E-mail: jbloor@mcdonaldhopkins.com.

                      About McDonald Hopkins

McDonald Hopkins is a business advisory and advocacy law firm with
offices in Chicago, Cleveland, Columbus, Detroit, Miami, and West
Palm Beach.  The firm's comprehensive legal services are provided
by teams of specialized attorneys and professionals in areas such
as business law, litigation, business restructuring and
bankruptcy, estate planning, government affairs, healthcare,
intellectual property, labor and employment, and mergers and
acquisitions.  The president of McDonald Hopkins is Carl J.
Grassi.


* Meyers Nave's Michael Sweet Joins Fox Rothschild
--------------------------------------------------
Fox Rothschild LLP is announced June 28, 2012, that Michael A.
Sweet, a seasoned litigator with extensive financial restructuring
and bankruptcy experience, has joined the firm as partner in the
San Francisco office.

Mr. Sweet handles bankruptcy and financial restructurings as well
as complex litigation matters and election law issues in federal
and state court. He has brought multiple jury and bench trials to
verdict.

"Michael is a terrific addition to our national bankruptcy team,
adding significant strength particularly in the arena of municipal
debt restructuring and Chapter 9 filings," said Keith I.
Chrestionson, managing partner of the firm's San Francisco office.
"He possesses an impressive depth of experience handling complex
litigation in state and federal courts, and his familiarity with
advising local governments on potential bankruptcy filings will
prove invaluable as we strive to expand these capabilities from
coast to coast."

Mr. Sweet represents debtors, creditors and creditors' committees
and trustees in bankruptcy cases throughout the state of
California. He has extensive experience litigating preferences,
fraudulent conveyances, claims objections and plan confirmation,
and he frequently advises clients in financial distress on
bankruptcy avoidance. Sweet has spoken and written extensively on
bankruptcy topics, particularly regarding government issues, and
has advised a number of local governments on potential Chapter 9
bankruptcy filings.

Mr. Sweet is also an accomplished litigator who represents both
plaintiffs and defendants in state and federal courts in
commercial and employment disputes, creditors' rights issues and
class actions, including those under California's Unfair
Competition Law. His clients include technology companies, green-
tech businesses, financial institutions, hospitality companies and
a gourmet food producer.

Additionally, Sweet represents candidates, campaign committees and
officeholders, including those involved in recall elections and
campaign finance-related law enforcement matters.

Mr. Sweet has practiced at various bankruptcy and litigation firms
throughout California during his career. Prior to his arrival at
Fox, he served as chair of the municipal debt restructuring and
bankruptcy practice group Meyers Nave.  He is a former judicial
extern for the Honorable Lisa Hill Fenning of the U.S. Bankruptcy
Court for the Central District of California.

Mr. Sweet serves as Chair of The San Francisco Human Rights
Commission, and of The California Jewish Political Action
Committee. He is Director of The San Francisco Metropolitan Jewish
Community Relations Council and past-president of The Raoul
Wallenberg Jewish Democratic Club of San Francisco. Additionally,
Sweet is a member of The Bar Association of San Francisco, The Bay
Area Bankruptcy Forum, The California Bankruptcy Forum, The
California Political Attorneys' Association and The California
State Democratic Central Committee.

Mr. Sweet earned his J.D. from University of California at Los
Angeles School of Law in 1996 and his B.A., cum laude, from
Brandeis University in 1991.


* Patton Boggs' Michael Richman Moves to Hunton & Williams
----------------------------------------------------------
Hunton & Williams LLP continues its expansion in New York with the
arrival of Michael P. Richman as a partner in its bankruptcy,
restructuring and creditors' rights practice group.  With more
than 25 years of experience, he is skilled in all aspects of
chapter 11 bankruptcy.  Richman joins the firm from Patton Boggs,
where he chaired its bankruptcy practice.

"Michael is an accomplished bankruptcy lawyer and his move to
Hunton & Williams is another step in our strategy to further
enhance our national practice," said Tyler P. Brown, global head
of the firm's bankruptcy, restructuring and creditors' rights
practice group.

Peter S. Partee, who leads the practice group in New York, added,
"I have admired Michael for years and am delighted for him to join
our bankruptcy team in New York. Michael's enviable skill set and
strong reputation among bankruptcy judges and practitioners alike
makes him an invaluable addition to our team. Financial
restructuring has been the mainstay of our practice in New York,
and we believe Michael will make a tremendous contribution in that
respect."

Mr. Richman is a former president of the American Bankruptcy
Institute and regularly lectures on bankruptcy, insolvency and
ethics topics.

Hunton & Williams handles major bankruptcy, restructuring and
creditors' rights representations for a wide range of national
institutional and other clients in federal and state courts across
the United States, including the traditional bankruptcy fora of
the Southern District of New York and the District of Delaware.


* Recent Small-Dollar & Individual Chapter 11 Filings
-----------------------------------------------------

In re Robert Barnett
   Bankr. D. Ariz. Case No. 12-14067
      Chapter 11 Petition filed June 22, 2012

In re Jose Guardado
   Bankr. C.D. Calif. Case No. 12-31858
      Chapter 11 Petition filed June 22, 2012

In re Eco Express LLC
   Bankr. D. Colo. Case No. 12-23129
     Chapter 11 Petition filed June 22, 2012
         See http://bankrupt.com/misc/cob12-23129p.pdf
         See http://bankrupt.com/misc/cob12-23129c.pdf
         represented by: Nicholas H. Ores, Esq.
                         E-mail: nick.ores@gmail.com

In re Cherie Baker
   Bankr. M.D. Fla. Case No. 12-04178
      Chapter 11 Petition filed June 22, 2012

In re Mark Murphy
   Bankr. M.D. Fla. Case No. 12-08557
      Chapter 11 Petition filed June 22, 2012

In re Shining Stars Child Care, Inc.
   Bankr. M.D. Fla. Case No. 12-09647
     Chapter 11 Petition filed June 22, 2012
         See http://bankrupt.com/misc/flmb12-09647p.pdf
         See http://bankrupt.com/misc/flmb12-09647c.pdf
         represented by: Jay B. Verona, Esq.
                         Englander and Fischer, LLP
                         E-mail: jverona@eandflaw.com

In re Sicily's Covington, L.L.C.
        dba Sicily's Italian Buffet
   Bankr. E.D. La. Case No. 12-11893
     Chapter 11 Petition filed June 22, 2012
         See http://bankrupt.com/misc/laeb12-11893p.pdf
         See http://bankrupt.com/misc/laeb12-11893c.pdf
         represented by: Gary K. McKenzie, Esq.
                         Steffes, Vingiello & McKenzie, LLC
                         E-mail: gmckenzie@steffeslaw.com

In re Quality Care Daycare at BUP LLP
   Bankr. D. Md. Case No. 12-21749
     Chapter 11 Petition filed June 22, 2012
         Filed pro se

In re Harry Stovall
   Bankr. E.D.N.C. Case No. 12-04642
      Chapter 11 Petition filed June 22, 2012

In re Wall Street Restaurant, LLC
   Bankr. E.D.N.Y. Case No. 12-44584
     Chapter 11 Petition filed June 22, 2012
         See http://bankrupt.com/misc/nyeb12-44584.pdf
         represented by: Gabriel Del Virginia, Esq.
                         Law Offices of Gabriel Del Virginia
                         E-mail: gabriel.delvirginia@verizon.net

In re LightStyles, Ltd.
   Bankr. M.D. Pa. Case No. 12-03711
     Chapter 11 Petition filed June 22, 2012
         See http://bankrupt.com/misc/pamb12-03711.pdf
         represented by: Lawrence G. Frank, Esq.
                         Thomas, Long, Niesen and Kennard
                         E-mail: lawrencefrank@earthlink.net

In re Marvin Window & Door Showplace, Inc.
   Bankr. M.D. Pa. Case No. 12-03713
     Chapter 11 Petition filed June 22, 2012
         See http://bankrupt.com/misc/pamb12-03713.pdf
         represented by: Lawrence G. Frank, Esq.
                         Thomas, Long, Niesen and Kennard
                         E-mail: lawrencefrank@earthlink.net

In re Edwin Falu Vargas
   Bankr. D.P.R. Case No. 12-04896
      Chapter 11 Petition filed June 22, 2012

In re Drew Roicki
   Bankr. W.D. Tex. Case No. 12-51937
      Chapter 11 Petition filed June 22, 2012

In re William Wingate
   Bankr. S.D. Ga. Case No. 12-11114
      Chapter 11 Petition filed June 24, 2012

In re Elva Blanks
   Bankr. D. Ariz. Case No. 12-14112
      Chapter 11 Petition filed June 25, 2012

In re David Russell Tall
   Bankr. D. Ariz. Case No. 12-14182
      Chapter 11 Petition filed June 25, 2012

In re ACS Roof Maintenance, Inc.
   Bankr. E.D. Ark. Case No. 12-13717
     Chapter 11 Petition filed June 25, 2012
         See http://bankrupt.com/misc/areb12-13717.pdf
         represented by: O. C. Rusty Sparks, Esq.
                         Clark, Byarlay & Sparks
                         E-mail: rustysparkslaw@gmail.com

In re Artcite, LLC
   Bankr. C.D. Calif. Case No. 12-31906
     Chapter 11 Petition filed June 25, 2012
         See http://bankrupt.com/misc/cacb12-31906.pdf
         represented by: Young K. Chang, Esq.
                         Law Office of Young K. Chang
                         E-mail: bklaw3@yahoo.com

In re Edwin Moore
   Bankr. C.D. Calif. Case No. 12-15817
      Chapter 11 Petition filed June 25, 2012

In re Universal Ice Blast Inc.
   Bankr. C.D. Calif. Case No. 12-17791
     Chapter 11 Petition filed June 25, 2012
         See http://bankrupt.com/misc/cacb12-17791.pdf
         represented by: William Stocker, Esq.
                         Law Offices of William Stocker

In re Dennis Middleton
   Bankr. N.D. Calif. Case No. 12-45394
      Chapter 11 Petition filed June 25, 2012

In re Rodney Williams
   Bankr. M.D. Fla. Case No. 12-04198
      Chapter 11 Petition filed June 25, 2012

In re Charles Weatherly
   Bankr. N.D. Ga. Case No. 12-65789
      Chapter 11 Petition filed June 25, 2012

In re WGAS, LLC
   Bankr. W.D. Ky. Case No. 12-32949
     Chapter 11 Petition filed June 25, 2012
         See http://bankrupt.com/misc/kywb12-32949.pdf
         represented by: Peter M. Gannott, Esq.
                         Gannott Law Group PLLC
                         E-mail: pgannott@gannottlaw.com

In re Sports Palace Store Inc.
   Bankr. E.D. Mich. Case No. 12-55170
     Chapter 11 Petition filed June 25, 2012
         See http://bankrupt.com/misc/mieb12-55170.pdf
         represented by: A. Stephen Ramadan, Esq.
                         Law Offices of A. Stephen Ramadan, PLC
                         E-mail: steveramadan@gmail.com

In re Christopher McKay
   Bankr. E.D.N.C. Case No. 12-04673
      Chapter 11 Petition filed June 25, 2012

In re Cutler & Page, LLC
   Bankr. D.N.H. Case No. 12-12031
     Chapter 11 Petition filed June 25, 2012
         See http://bankrupt.com/misc/nhb12-12031.pdf
         represented by: Robert L. O'Brien, Esq.
                         O'Brien Law
                         E-mail: robjd@mail2firm.com

In re Michael Geraghty
   Bankr. D.N.J. Case No. 12-26096
      Chapter 11 Petition filed June 25, 2012

In re Valley View Farms LLC
   Bankr. D.N.J. Case No. 12-26081
     Chapter 11 Petition filed June 25, 2012
         See http://bankrupt.com/misc/njb12-26081.pdf
         represented by: Joan S. Lavery, Esq.
                         Lavery & Sirkis
                         E-mail: joan.lavery@verizon.net

In re Camille Lizzi
   Bankr. E.D.N.Y. Case No. 12-73937
      Chapter 11 Petition filed June 25, 2012

In re Mohson Ventures, Inc.
        dba Alpha International Auto Center
   Bankr. S.D. Tex. Case No. 12-34707
     Chapter 11 Petition filed June 25, 2012
         See http://bankrupt.com/misc/txsb12-34707.pdf
         represented by: Margaret Maxwell McClure, Esq.
                         Law Office of Margaret M. McClure
                         E-mail: margaret@mmmcclurelaw.com

In re Glynda Brooks
   Bankr. W.D. Wash. Case No. 12-16589
      Chapter 11 Petition filed June 25, 2012

In re Liberty Flag & Specialty Co., Inc.
   Bankr. W.D. Wis. Case No. 12-13672
     Chapter 11 Petition filed June 25, 2012
         See http://bankrupt.com/misc/wiwb12-13672.pdf
         represented by: Craig E. Stevenson, Esq.
                         Krekeler Strother, S.C.
                         E-mail: cstevenson@ks-lawfirm.com

In re Premier Meats, Inc.
   Bankr. W.D. Wis. Case No. 12-13689
     Chapter 11 Petition filed June 25, 2012
         See http://bankrupt.com/misc/wiwb12-13689.pdf
         represented by: Galen W. Pittman, Esq.
                         E-mail: galenpittman@centurytel.net


In re Martha Gutierrez
   Bankr. C.D. Calif. Case No. 12-32047
      Chapter 11 Petition filed June 26, 2012

In re Leonida Bautista
   Bankr. C.D. Calif. Case No. 12-32095
      Chapter 11 Petition filed June 26, 2012

In re Simin Fahim
   Bankr. C.D. Calif.Case No. 12-32116
      Chapter 11 Petition filed June 26, 2012

In re Zackery Wheeler
   Bankr. N.D. Calif. Case No. 12-45396
      Chapter 11 Petition filed June 26, 2012

In re Genray Hamling
   Bankr. N.D. Calif. Case No. 12-45417
      Chapter 11 Petition filed June 26, 2012

In re Charles Moyer
   Bankr. N.D. Calif. Case No. 12-45418
      Chapter 11 Petition filed June 26, 2012

In re Carolyn Gianarelli
   Bankr. D. Colo. Case No. 12-23438
      Chapter 11 Petition filed June 26, 2012

In re Clarence Gianarelli
   Bankr. D. Colo. Case No. 12-23438
      Chapter 11 Petition filed June 26, 2012

In re Michelle Krause
   Bankr. M.D. Fla. Case No. 12-04211
      Chapter 11 Petition filed June 26, 2012

In re Brian Agard
   Bankr. M.D. Fla. Case No. 12-08657
      Chapter 11 Petition filed June 26, 2012

In re David Pinto
   Bankr. S.D. Fla. Case No. 12-25446
      Chapter 11 Petition filed June 26, 2012

In re Paul Roemmele
   Bankr. S.D. Fla. Case No. 12-25492
      Chapter 11 Petition filed June 26, 2012

In re Surinder Jain
   Bankr. N.D. Ill. Case No. 12-25489
      Chapter 11 Petition filed June 26, 2012

In re East Fourth Street, LLC
   Bankr. D. Mass. Case No. 12-15439
     Chapter 11 Petition filed June 26, 2012
         See http://bankrupt.com/misc/mab12-15439.pdf
         Filed as Pro Se

In re Mantachie Apartment Homes, LLC
   Bankr. N.D. Miss. Case No. 12-12596
     Chapter 11 Petition filed June 26, 2012
         See http://bankrupt.com/misc/msnb12-12596p.pdf
             http://bankrupt.com/misc/msnb12-12596c.pdf
         represented by: Craig M. Geno, Esq.
                         CRAIG M. GENO, PLLC
                         E-mail: cmgeno@cmgenolaw.com

In re Myrtle Apartments, L.L.C.
   Bankr. N.D. Miss. Case No. 12-12597
     Chapter 11 Petition filed June 26, 2012
         See http://bankrupt.com/misc/msnb12-12597p.pdf
             http://bankrupt.com/misc/msnb12-12597c.pdf
         represented by: Craig M. Geno, Esq.
                         CRAIG M. GENO, PLLC
                         E-mail: cmgeno@cmgenolaw.com

In re Rienzi Apartment Homes, LLC
   Bankr. N.D. Miss. Case No. 12-12598
     Chapter 11 Petition filed June 26, 2012
         represented by: Craig M. Geno, Esq.
                         CRAIG M. GENO, PLLC
                         E-mail: cmgeno@cmgenolaw.com

In re 53 Burd Corp
   Bankr. S.D.N.Y. Case No. 12-23185
     Chapter 11 Petition filed June 26, 2012
         See http://bankrupt.com/misc/nysb12-23185.pdf
         represented by: Nicole L. Perskie, Esq.
                         ROBERT S. LEWIS, P.C.
                         E-mail: nperskie@gmail.com

In re Performance Truck Lines, Inc.
   Bankr. W.D. Pa. Case No. 12-23220
     Chapter 11 Petition filed June 26, 2012
         See http://bankrupt.com/misc/pawb12-23220p.pdf
             http://bankrupt.com/misc/pawb12-23220c.pdf
         represented by: Eric E. Bononi, Esq.
                         BONONI & COMPANY, P.C.
                         E-mail: bankruptcy@bononilaw.com

In re JJJ Real Estate Holdings, LLC
   Bankr. C.D. Calif. Case No. 12-15889
     Chapter 11 Petition filed June 27, 2012
         See http://bankrupt.com/misc/cacb12-15889.pdf
         represented by: Leslie Richards, Esq.
                         Law Offices of Leslie Richards PC
                         E-mail: ladylaw@leslierichards.com

In re Thomas Byrne
   Bankr. D. Colo. Case No. 12-23553
      Chapter 11 Petition filed June 27, 2012

In re Chip Shot Entertainment, LLC
   Bankr. M.D. Fla. Case No. 12-09835
     Chapter 11 Petition filed June 27, 2012
         See http://bankrupt.com/misc/flmb12-09835.pdf
         represented by: Marshall G. Reissman, Esq.
                         The Reissman Law Group
                         E-mail: marshall@reissmanlaw.com

In re HRK Industries, LLC
   Bankr. M.D. Fla. Case No. 12-09869
     Chapter 11 Petition filed June 27, 2012
         See http://bankrupt.com/misc/flmb12-09869.pdf
         represented by: Barbara A. Hart, Esq.
                         Stichter, Riedel, Blain & Prosser
                         E-mail: bhart.ecf@srbp.com

In re East Fourth Street, LLC
   Bankr. D. Mass. Case No. 12-15467
     Chapter 11 Petition filed June 27, 2012
         See http://bankrupt.com/misc/mab12-15467.pdf
         represented by: Craig F. Anderson, Esq.
                         Law Office of Craig F. Anderson

In re Randall Radkay
   Bankr. D.N.H. Case No. 12-12059
      Chapter 11 Petition filed June 27, 2012

In re Intergrated Concepts & Housing Solutions, Ltd.
   Bankr. S.D.N.Y. Case No. 12-12728
     Chapter 11 Petition filed June 27, 2012
         See http://bankrupt.com/misc/nysb12-12728.pdf
         represented by: Christopher James Baum, Esq.
                         Baum & Bailey, P.C.
                         E-mail: cbaum@baumbaileylaw.com

In re Tri Don, Inc.
        dba Jiffy Lube #1483
          dba Jiffy Lube #1566
   Bankr. M.D. Pa. Case No. 12-03814
     Chapter 11 Petition filed June 27, 2012
         See http://bankrupt.com/misc/pamb12-03814p.pdf
         See http://bankrupt.com/misc/pamb12-03814c.pdf
         represented by: Henry W. Van Eck, Esq.
                         Mette, Evans, & Woodside
                         E-mail: hwvaneck@mette.com

In re Matthew Mauck
   Bankr. W.D. Pa. Case No. 12-23267
      Chapter 11 Petition filed June 27, 2012

In re Kevin Thomas
   Bankr. E.D. Tex. Case No. 12-41701
      Chapter 11 Petition filed June 27, 2012

In re Barbara Marino
   Bankr. S.D. Tex. Case No. 12-34761
      Chapter 11 Petition filed June 27, 2012


In re Provest Realty Services, Inc.
   Bankr. N.D. Ill. Case No. 12-25868
     Chapter 11 Petition filed June 27, 2012
         See http://bankrupt.com/misc/ilnb12-25868.pdf
         represented by: Adam S. Tracy, Esq.
                         THE TRACY FIRM, LTD.
                         E-mail: at@tracyfirm.com

In re Dhaniba Corporation
   Bankr. N.D. Ala. Case No. 12-82076
     Chapter 11 Petition filed June 28, 2012
         See http://bankrupt.com/misc/alnb12-82076p.pdf
             http://bankrupt.com/misc/alnb12-82076c.pdf
         represented by: Tazewell Shepard, Esq.
                         TAZEWELL SHEPARD, P.C.
                         E-mail: taze@tshepard.com

In re Michael Sullivan
   Bankr. C.D. Calif. Case No. 12-17895
      Chapter 11 Petition filed June 28, 2012

In re Asia Kitchen
   Bankr. C.D. Calif. Case No. 12-32415
      Chapter 11 Petition filed June 28, 2012

In re Shahram Nemani
   Bankr. C.D. Calif. Case No. 12-32427
      Chapter 11 Petition filed June 28, 2012

In re Rodolfo Cardona
   Bankr. N.D. Calif. Case No. 12-54839
      Chapter 11 Petition filed June 28, 2012

In re Orazio Difante
   Bankr. S.D. Calif. Case No. 12-09034
      Chapter 11 Petition filed June 28, 2012

In re Glenn Siegler
   Bankr. S.D. Fla. Case No. 12-25785
      Chapter 11 Petition filed June 28, 2012

In re Michael Hunter
   Bankr. S.D. Fla. Case No. 12-25913
      Chapter 11 Petition filed June 28, 2012

In re Robert Levitt
   Bankr. D. Kans. Case No. 12-21813
      Chapter 11 Petition filed June 28, 2012

In re Sicily's, L.L.C.
   Bankr. E.D. La. Case No. 12-11945
     Chapter 11 Petition filed June 28, 2012
         See http://bankrupt.com/misc/laeb12-11945p.pdf
             http://bankrupt.com/misc/laeb12-11945c.pdf
         represented by: Gary K. McKenzie, Esq.
                         STEFFES, VINGIELLO & MCKENZIE, LLC
                         E-mail: gmckenzie@steffeslaw.com

In re Gerard Gremillion
   Bankr. M.D. La. Case No. 12-10954
      Chapter 11 Petition filed June 28, 2012

In re Robert Frueh
   Bankr. E.D. Mo. Case No. 12-46287
      Chapter 11 Petition filed June 28, 2012

In re Bob Bubble Laundry Inc.
   Bankr. D. N.J. Case No. 12-26387
     Chapter 11 Petition filed June 28, 2012
         See http://bankrupt.com/misc/njb12-26387.pdf
         represented by: Jonathan Goodman, Esq.

In re Javier Ontiveros
   Bankr. D. N.M. Case No. 12-12457
      Chapter 11 Petition filed June 28, 2012

In re Burcam Capital II, LLC
   Bankr. E.D.N.C. Case No. 12-04729
     Chapter 11 Petition filed June 28, 2012
         See http://bankrupt.com/misc/nceb12-04729.pdf
         Filed Pro Se

In re Asa Shiverick
   Bankr. N.D. Ohio Case No. 12-14813
      Chapter 11 Petition filed June 28, 2012

In re Fox Chase Restoration, LLC.
   Bankr. E.D. Pa. Case No. 12-16147
     Chapter 11 Petition filed June 28, 2012
         See http://bankrupt.com/misc/paeb12-16147.pdf
         represented by: Carol B. McCullough, Esq.
                         MCCULLOUGH EISENBERG, LLC
                         E-mail: mlawoffice@aol.com

In re J.C.'s Hilltop, Inc.
        dba Club VIP II
   Bankr. W.D. Pa. Case No. 12-23281
     Chapter 11 Petition filed June 28, 2012
         See http://bankrupt.com/misc/pawb12-23281.pdf
         represented by: James A. Prostko, Esq.
                         PROSTKO & SANTILLAN, LLC
                         E-mail: jprostko@fyi.net

In re Dennis Stasa
   Bankr. W.D. Pa. Case No. 12-23298
      Chapter 11 Petition filed June 28, 2012

In re Forest Hills Electronic Corporation
        dba FH America
   Bankr. D. P.R. Case No. 12-05062
     Chapter 11 Petition filed June 28, 2012
         See http://bankrupt.com/misc/prb12-05062.pdf
         represented by: Carmen D. Conde Torres, Esq.
                         C. CONDE & ASSOC.
                         E-mail: notices@condelaw.com

In re Lee Highway Office, LLC
   Bankr. E.D. Tenn. Case No. 12-13339
     Chapter 11 Petition filed June 28, 2012
         See http://bankrupt.com/misc/tneb12-13339.pdf
         represented by: David J. Fulton, Esq.
                         SCARBOROUGH, FULTON & GLASS
                         E-mail: djf@sfglegal.com

In re Willsita, Inc.
   Bankr. W.D. Tenn. Case No. 12-26799
     Chapter 11 Petition filed June 28, 2012
         See http://bankrupt.com/misc/tnwb12-26799.pdf
         represented by: Earnest E. Fiveash, Jr., Esq.
                         EARNEST FIVEASH
                         E-mail: earnietheattorney@gmail.com

In re Kazbar LLC
   Bankr. D. Ariz. Case No. 12-14666
     Chapter 11 Petition filed June 29, 2012
         See http://bankrupt.com/misc/azb12-14666.pdf
         represented by: Gerald L. Shelley, Esq.
                         FENNEMORE CRAIG, P.C.
                         E-mail: gshelley@fclaw.com

In re 2500 Group, LLC
   Bankr. D. Ariz. Case No. 12-14709
     Chapter 11 Petition filed June 29, 2012
         See http://bankrupt.com/misc/azb12-14709.pdf
         represented by: Mark J. Giunta, Esq.
                         LAW OFFICE OF MARK J. GIUNTA
                         E-mail: markgiunta@giuntalaw.com

In re Fluoresco Lighting-Sign Maintenance Corp.
   Bankr. D. Ariz. Case No. 12-14719
     Chapter 11 Petition filed June 29, 2012
         See http://bankrupt.com/misc/azb12-14719.pdf
         represented by: Michael W. McGrath, Esq.
                         MESCH CLARK & ROTHSCHILD
                         E-mail: ecfbk@mcrazlaw.com

In re Kayco Leasing, L.L.C.
   Bankr. D. Ariz. Case No. 12-14723
     Chapter 11 Petition filed June 29, 2012
         See http://bankrupt.com/misc/azb12-14723.pdf
         represented by: Michael W. McGrath, Esq.
                         MESCH CLARK & ROTHSCHILD
                         E-mail: ecfbk@mcrazlaw.com

In re Ernesto Edraisa
   Bankr. S.D. Calif. Case No. 12-09217
      Chapter 11 Petition filed June 29, 2012

In re The Aurora School Of Gymnastics, LLC
   Bankr. D. Colo. Case No. 12-23697
     Chapter 11 Petition filed June 29, 2012
         See http://bankrupt.com/misc/cob12-23697.pdf
         represented by: Stuart Borne, Esq.
                         LYNCH & ROBBINS
                         E-mail: sborne@lynchrobbins.com

In re Bright Beginnings Academy, LLC
   Bankr. M.D. Fla. Case No. 12-08945
     Chapter 11 Petition filed June 29, 2012
         See http://bankrupt.com/misc/flmb12-08945.pdf
         represented by: Scott W. Spradley, Esq.
                         LAW OFFICES OF SCOTT W. SPRADLEY, P.A.
                         Email: scott.spradley@flaglerbeachlaw.com

In re Chad Labonte
   Bankr. S.D. Fla. Case No. 12-26103
      Chapter 11 Petition filed June 29, 2012

In re Wiley Leverett
   Bankr. M.D. Ga. Case No. 12-51716
      Chapter 11 Petition filed June 29, 2012

In re Georgia Chopsticks, LLC
   Bankr. N.D. Ga. Case No. 12-66142
     Chapter 11 Petition filed June 29, 2012
         Filed as Pro Se

In re James Barnes
   Bankr. S.D. Ga. Case No. 12-60356
      Chapter 11 Petition filed June 29, 2012

In re McNeil Stokes
   Bankr. N.D. Ga. Case No. 12-66287
      Chapter 11 Petition filed June 29, 2012

In re Barbara Abramowitz
   Bankr. E.D.N.Y. Case No. 12-44846
      Chapter 11 Petition filed June 29, 2012

In re Peter Seirsdale
   Bankr. W.D. Pa. Case No. 12-23324
      Chapter 11 Petition filed June 29, 2012

In re L.D.I., LLC
   Bankr. E.D. Tenn. Case No. 12-13338
     Chapter 11 Petition filed June 29, 2012
         See http://bankrupt.com/misc/tneb12-13338.pdf
         represented by: David J. Fulton, Esq.
                         SCARBOROUGH, FULTON & GLASS
                         E-mail: djf@sfglegal.com

In re Xtreme Iron Hickory Creek, LLC
   Bankr. E.D. Tex. Case No. 12-41750
     Chapter 11 Petition filed June 29, 2012
         See http://bankrupt.com/misc/txeb12-41750.pdf
         represented by: Gregory W. Mitchell, Esq.
                         THE MITCHELL LAW FIRM, L.P.
                         E-mail: greg@mitchellps.com

In re Randy Bell
   Bankr. N.D. Tex. Case No. 12-43635
      Chapter 11 Petition filed June 29, 2012

In re Vaquero Ice, Inc.
        dba Junior's King Daddy Ice
            King Daddy Ice
   Bankr. W.D. Tex. Case No. 12-11482
     Chapter 11 Petition filed June 29, 2012
         See http://bankrupt.com/misc/txwb12-11482.pdf
         represented by: Frank B. Lyon, Esq.
                         E-mail: franklyon@me.com

In re Apex Industrial Equipment, Inc.
   Bankr. W.D. Va. Case No. 12-71225
     Chapter 11 Petition filed June 29, 2012
         See http://bankrupt.com/misc/vawb12-71225.pdf
         represented by: Andrew S. Goldstein, Esq.
                         MAGEE GOLDSTEIN LASKY & SAYERS, P.C.
                         E-mail: agoldstein@mglspc.com

In re Byung Cho
   Bankr. C.D. Calif. Case No. 12-32768
      Chapter 11 Petition filed June 30, 2012

In re FNP America, Inc.
   Bankr. N.D. Tex. Case No. 12-34201
     Chapter 11 Petition filed June 30, 2012
         See http://bankrupt.com/misc/txnb12-34201.pdf
         represented by: David R. Gibson, Esq.
                         The Gibson Law Group
                         Email: my.lawyer@sbcglobal.net

In re Stanley Kim
   Bankr. N.D. Ill. Case No. 12-26540
      Chapter 11 Petition filed July 1, 2012

In re Timothy Wilson
   Bankr. M.D. Tenn. Case No. 12-06072
      Chapter 11 Petition filed July 1, 2012

In re Surjit Tumber
   Bankr. E.D. Calif. Case No. 12-32390
      Chapter 11 Petition filed July 2, 2012

In re Max Warehousing, LLC
   Bankr. M.D. Fla. Case No. 12-09103
     Chapter 11 Petition filed July 2, 2012
         See http://bankrupt.com/misc/flmb12-09103.pdf
         represented by: Arvind Mahendru, Esq.
                         Joseph E. Seagle, PA
                         E-mail: am@seaglelaw.com

In re GAP-2548
   Bankr. S.D. Fla. Case No. 12-26183
     Chapter 11 Petition filed July 2, 2012
         Filed pro se

In re ERJ, LLC
   Bankr. S.D. Ind. Case No. 12-07940
     Chapter 11 Petition filed July 2, 2012
         See http://bankrupt.com/misc/insb12-07940.pdf
         represented by: Guerino John Cento, Esq.
                         Riley Bennett & Egloff, LLP
                         E-mail: jcento@rbelaw.com

In re Tindall & Company PC
   Bankr. E.D. Mich. Case No. 12-55836
     Chapter 11 Petition filed July 2, 2012
         See http://bankrupt.com/misc/mieb12-55836p.pdf
         See http://bankrupt.com/misc/mieb12-55836c.pdf
         represented by: Michael E. Tindall, Esq.
                         E-mail: met@comcast.net

In re Abel Rosas
   Bankr. D. Nev. Case No. 12-17794
      Chapter 11 Petition filed July 2, 2012

In re Santiago Escobar-Vazquez
   Bankr. D. Nev. Case No. 12-17792
      Chapter 11 Petition filed July 2, 2012

In re Sarsal Square Apartments, LLC
   Bankr. W.D. Tenn. Case No. 12-26885
     Chapter 11 Petition filed July 2, 2012
         See http://bankrupt.com/misc/tnwb12-26885.pdf
         represented by: Bo Luxman, Esq.
                         Law Office of Bo Luxman
                         E-mail: Bo@luxmanlaw.com

In re Girirajan Mohan
   Bankr. E.D. Tex. Case No. 12-10415
      Chapter 11 Petition filed July 2, 2012

In re James Martin
   Bankr. N.D. Tex. Case No. 12-34249
      Chapter 11 Petition filed July 2, 2012

In re John Skelton
   Bankr. N.D. Tex. Case No. 12-34350
      Chapter 11 Petition filed July 2, 2012

In re Splash Properties, LLC
   Bankr. N.D. Tex. Case No. 12-43702
     Chapter 11 Petition filed July 2, 2012
         See http://bankrupt.com/misc/txnb12-43702.pdf
         represented by: Eric A. Liepins, Esq.
                         Eric A. Liepins, P.C.
                         E-mail: eric@ealpc.com

In re B. Valdez Construction & Development, Inc.
        fka B.V. Construction & Development, Inc.
   Bankr. S.D. Tex. Case No. 12-50178
     Chapter 11 Petition filed July 2, 2012
         See http://bankrupt.com/misc/txsb12-50178.pdf
         represented by: Carl Michael Barto, Esq.
                         Law Office of Carl M. Barto
                         E-mail: cmblaw@netscorp.net

In re Shilling Properties, LLC
   Bankr. W.D. Tex. Case No. 12-60731
     Chapter 11 Petition filed July 2, 2012
         See http://bankrupt.com/misc/txwb12-60731.pdf
         represented by: David C. Alford, Esq.
                         Pakis, Giotes, Page & Burleson
                         E-mail: alford@pakislaw.com

In re Harry Morrow
   Bankr. E.D. Va. Case No. 12-33978
      Chapter 11 Petition filed July 2, 2012



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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, Ivy B. Magdadaro, 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
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $775 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
Beard at 240/629-3300.


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