TCR_Public/120714.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

            Saturday, July 14, 2012, Vol. 16, No. 194

                            Headlines

CLIFFS CLUB: Has $2.75 in Net Income for the Month of April
DYNEGY HOLDINGS: Paid $11.33-Mil. to Professionals in May
EASTMAN KODAK: Has $88.3 Million Net Loss in May
GRUBB & ELLIS: Has $32.8 Million in Cash as of April 30
GRUBB & ELLIS: Has $9.47 Million in Cash as of March 31

HOSTESS BRANDS: Reports $4.34 Million May Operating Loss
LEHMAN BROTHERS: Has $22.4 Billion Cash at May 31
RCR PLUMBING: Has $3.06 Million in Cash as of May 31
RE LOANS: Has $344,651 in Cash at the End of May
SAINT VINCENTS: Has $26.34 Million in Cash at the End of April




                          *********



CLIFFS CLUB: Has $2.75 in Net Income for the Month of April
-----------------------------------------------------------
The Cliffs Club & Hospitality Group, Inc., reported a net income
of $2.75 million on $511,576 in revenues for the month ended
April 30, 2012.

Cliffs Club disclosed $174.66 million in total assets and
$332.86 million in liabilities as of April 30, 2012.  As a result,
Saint Vincents had total stockholders' deficit of $158.20 million
as of April 30, 2012.

                        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.


DYNEGY HOLDINGS: Paid $11.33-Mil. to Professionals in May
---------------------------------------------------------
Dynegy Holdings, LLC and its affiliated debtors filed with the
U.S. Bankruptcy Court for the Southern District of New York their
operating report for the month ended May 31, 2012.

Dynegy Holdings disclosed that as of May 31, it had $99,570,000 in
current assets and $1,332,357,000 in current liabilities.  The
company also disclosed it had $6,535,000,000 in total assets,
($265,602,000) in Dynegy Inc. equity, and $6,800,601,000 in total
liabilities.

The company and its affiliated debtors also disclosed these income
and losses from operations for the month ended May 31:

                            May 2012           April 2012
                           ----------          ----------
Dynegy Holdings LLC     $155,570,000        ($23,374,000)
Hudson Power LLC                  (0)                ($0)
Dynegy Roseton LLC            (9,000)        ($2,262,000)
Dynegy Danskammer LLC     (1,727,000)        ($2,373,000)
Dynegy Northeast
    Generation Inc.          (293,000)          ($575,000)

At the beginning of the month, Dynegy Holdings had $24,367,000
cash, which decreased to $10,746,000 at the end of the month.

Dynegy Holdings paid a total of $11,325,239 to professionals
during the month.

A full-text copy of the May 2012 MOR is available for free
at http://bankrupt.com/misc/Dynegy_MORMay2012.pdf

                         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.


EASTMAN KODAK: Has $88.3 Million Net Loss in May
------------------------------------------------
Eastman Kodak Co. and its affiliated debtors filed with the U.S.
Bankruptcy Court in Manhattan their operating report.

Eastman Kodak lost $88.3 million in May and depleted cash by $43.4
million.  The $88.3 million net loss would have been greater were
it not for a $54.5 million tax benefit.

The $191.9 million cost of sales in May exceeded $173.6 million of
revenue by $18.2 million. Interest expense and reorganization
costs were $12.7 million and $16.3 million, respectively.

The Debtors disclosed these cash receipts and disbursements for
the month ended May 31, 2012:

                         Receipts   Disbursements     Total
                        ----------- -------------  -----------
Kodak Realty, Inc.               $-            $-           $-
Eastman Kodak Company   205,554,563  (227,049,584) (21,495,022)
Creo Manufacturing America        -             -            -
Eastman Kodak International
  Capital Company Inc.            -             -            -
Far East Development Ltd.         -             -            -
FPC Inc.                    592,676      (408,879)     183,796
Kodak (Near East) Inc.    2,444,431    (2,055,796)     388,635
Kodak Americas Ltd.               -        (6,372)      (6,372)
Kodak Aviation Leasing LLC        -             -            -
Kodak Imaging Network Inc.        -    (6,195,289)  (6,195,289)
Kodak Philippines Ltd.      286,630      (167,743)     118,887
Kodak Portuguesa Limited          -             -            -
Laser-Pacific Media Corp.       581          (581)           -
NPEC Inc.                         -      (185,085)    (185,085)
Pakon Inc.                        -             -            -
Qualex Inc.               3,421,706    (1,886,240)   1,535,465

Eastman Kodak Company also reported a $88,320,0000 net loss for
the month ended May 31, 2012.  The previous month it reported
$91,339,000 net loss.

A copy of the May 2012 operating report is available for free
at http://bankrupt.com/misc/Kodak_May2012MOR.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.


GRUBB & ELLIS: Has $32.8 Million in Cash as of April 30
-------------------------------------------------------
Grubb & Ellis Company and its affiliates filed a consolidated
monthly operating report with the Bankruptcy Court for the
Southern District of New York for the month ended April 30, 2012.

The Company reported income from continuing operations of
$26.44 million on total revenues of $22.75 million for the month
ended April 30, 2012.

As of April 30, 2012, the Debtor had total assets of
$76.32 million, total liabilities of $116.95 million and total
stockholders' equity of $40.63 million.

The Company disbursed $18.72 in cash for the month ended April 30,
2012.  As a result, the Company had total cash of $32.8 million as
of April 30, 2012.

                        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.


GRUBB & ELLIS: Has $9.47 Million in Cash as of March 31
-------------------------------------------------------
Grubb & Ellis Company and its affiliates filed a consolidated
monthly operating report with the Bankruptcy Court for the
Southern District of New York for the period Feb. 21 to March 31,
2012.

The Company reported a loss from continuing operations of
$8.32 million on total revenues of $28.20 million for the period.

As of March 31, 2012, the Debtor had total assets of
$58.10 million, total liabilities of $143.46 million and total
stockholders' equity of $85.35 million.

The Company had total cash receipts of $28.20 million and made
total disbursements of $29.59 million for the period.  As a
result, the Company had total cash of $9.47 million as of
March 31, 2012.

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

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

                        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.


HOSTESS BRANDS: Reports $4.34 Million May Operating Loss
--------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Hostess Brands Inc. filed an operating report for
five weeks ended June 2 showing $6.74 million in earnings before
interest, taxes, depreciation and amortization on net sales of
$232.8 million.  The operating loss and the net loss were $4.34
million and $4.47 million, respectively.  The report filed with
the bankruptcy court in New York attributes the losses to $8.3
million in reorganization charges and $3.2 million in depreciation
and amortization.

                       About Hostess Brands

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

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

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

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

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

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

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


LEHMAN BROTHERS: Has $22.4 Billion Cash at May 31
-------------------------------------------------
Lehman Brothers Holdings Inc. disclosed these cash receipts and
disbursements of the company, its affiliated debtors and
controlled entities for the month ended May 31, 2012:

Beginning Total Cash & Investments (05/01/12) $21,343,000,000
Total Sources of Cash                           1,626,000,000
Total Uses of Cash                               (537,000,000)
FX Fluctuation                                    (11,000,000)
                                               ---------------
Ending Total Cash & Investments (05/31/12)    $22,409,000,000

LBHI reported $10.59 billion in cash and investments as of
May 1, 2012, and $11.265 billion as of May 31, 2012.

The monthly operating report also showed that a total of
$25,946,000 was paid last month to the U.S Trustee and
professionals that were retained in the Debtors' Chapter 11
cases.

From September 15, 2008 to May 31, 2012, a total of
$1,696,438,000 was paid to the U.S. Trustee and professionals, of
which $535,520,000 was paid to Lehman's turnaround manager
Alvarez & Marsal LLC while $413,274,000 was paid to their
bankruptcy counsel, Weil Gotshal & Manges LLP.

A full-text copy of the May 2012 Operating Report is available
for free at http://bankrupt.com/misc/LehmanMORMay3112.pdf

                       About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was
the fourth largest investment bank in the United States.  For
more than 150 years, Lehman Brothers has been a leader in the
global financial markets by serving the financial needs of
corporations, governmental units, institutional clients and
individuals worldwide.

Lehman Brothers filed for Chapter 11 bankruptcy Sept. 15, 2008
(Bankr. S.D.N.Y. Case No. 08-13555).  Lehman's bankruptcy
petition disclosed US$639 billion in assets and US$613 billion in
debts, effectively making the firm's bankruptcy filing the
largest in U.S. history.  Several other affiliates followed
thereafter.

Affiliates Merit LLC, LB Somerset LLC and LB Preferred Somerset
LLC sought for bankruptcy protection in December 2009.

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at
Weil, Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

Dennis F. Dunne, Esq., Evan Fleck, Esq., and Dennis O'Donnell,
Esq., at Milbank, Tweed, Hadley & McCloy LLP, in New York, serve
as counsel to the Official Committee of Unsecured Creditors.
Houlihan Lokey Howard & Zukin Capital, Inc., is the Committee's
investment banker.

On Sept. 19, 2008, the Honorable Gerard E. Lynch of the U.S.
District Court for the Southern District of New York, entered an
order commencing liquidation of Lehman Brothers, Inc., pursuant
to the provisions of the Securities Investor Protection Act (Case
No. 08-CIV-8119 (GEL)).  James W. Giddens has been appointed as
trustee for the SIPA liquidation of the business of LBI.

The Bankruptcy Court approved Barclays Bank Plc's purchase of
Lehman Brothers' North American investment banking and capital
markets operations and supporting infrastructure for US$1.75
billion.  Nomura Holdings Inc., the largest brokerage house in
Japan, purchased LBHI's operations in Europe for US$2 plus the
retention of most of employees.  Nomura also bought Lehman's
operations in the Asia Pacific for US$225 million.

Lehman emerged from bankruptcy protection on March 6, 2012, more
than three years after it filed the largest bankruptcy in U.S.
history.  Lehman is set to make its first payment to creditors
under its $65 billion payout plan on April 17, 2012.

               International Operations Collapse

Lehman Brothers International (Europe), the principal UK trading
company in the Lehman group, was placed into administration,
together with Lehman Brothers Ltd, LB Holdings PLC and LB UK RE
Holdings Ltd.  Tony Lomas, Steven Pearson, Dan Schwarzmann and
Mike Jervis, partners at PricewaterhouseCoopers LLP, have been
appointed as joint administrators to Lehman Brothers
International (Europe) on Sept. 15, 2008.  The joint
administrators have been appointed to wind down the business.

Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan
Inc. filed for bankruptcy in the Tokyo District Court on
Sept. 16.  Lehman Brothers Japan Inc. reported about JPY3.4
trillion (US$33 billion) in liabilities in its petition.

Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Lehman Brothers Holdings, Inc., and other
insolvency and bankruptcy proceedings undertaken by its
affiliates.  (http://bankrupt.com/newsstand/or 215/945-700)


RCR PLUMBING: Has $3.06 Million in Cash as of May 31
----------------------------------------------------
RCR Plumbing and Mechanical Inc. filed a monthly operating report
with the Bankruptcy Court for the Central District of California
for the month ended May 31, 2012.

The Company has total cash of $3.05 million at the beginning of
May.  RCR Plumbing had total receipts of $1.90 million and total
disbursements of $1.89 million for the month.  As a result, at the
end of the month, the Company had $3.06 million in cash.

RCR Plumbing had a net loss of $617,575 on total revenues of $1.68
million for the month ended May 31, 2012.

The Company had total assets of $11.07 million, total liabilities
of $19.52 million, resulting of stockholders' deficit of $8.46 as
of May 31, 2012.

                         About RCR Plumbing

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

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

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


RE LOANS: Has $344,651 in Cash at the End of May
------------------------------------------------
RE Loans LLC reported a net loss of $27.93 million on $0 revenue
for the month ended May 31, 2012.

RE Loans disclosed $598.54 million in total assets and
$954.45 million in liabilities, including $16.11 million in
postpetition liabilities as of May 31, 2012.  As a result, RE
Loans had total stockholders' deficit of $355.92 as of May 31,
2012.

At the beginning of the month, the Company had total cash of
$171,316.  The Company had total receipts of $4.46 million and
total disbursements of $2.56 for the month of May.  As a result,
the Company ended the month with $344,651 in cash.

                         About R.E. Loans

R.E. Loans, LLC, was, for many years, in the business of providing
financing to home builders and developers of real property.  R.E.
Future LLC and Capital Salvage own the real property obtained
following foreclosure proceedings initiated by R.E. Loans against
its borrowers.  R.E. Loans is the sole shareholder of Capital
Salvage and the sole member of R.E. Future.  B-4 Partners LLC is
the sole member of R.E. Loans.  As a result of the multiple
defaults by R.E. Loans' borrowers, R.E. Loans has transitioned
from being a lender to becoming a property management company.

Lafayette, California-based R.E. Loans, R.E. Future and Capital
Salvage filed for Chapter 11 bankruptcy (Bankr. N.D. Tex. Case
Nos. 11-35865, 11-35868 and 11-35869) on Sept. 13, 2011.  Judge
Barbara J. Houser presides over the case.  James A. Weissenborn at
Mackinac serves as R.E. Loans' chief restructuring officer.  The
Debtors tapped Hines Smith Carder as their litigation and outside
general counsel.  The Debtors tapped Alixpartners, LLP as noticing
agent, and Latham & Watkins LLP as special counsel in real estate
matters.  R.E. Loans disclosed $713.6 million in assets and
$886.0 million in liabilities as of the Chapter 11 filing.

Akin Gump Strauss Hauer & Feld LLP, in Dallas, represents
the Official Committee of Note Holders as counsel.

The Debtors' Plan provides that the rights of the Noteholders and
the Holders of General Unsecured Claims will depend on whether the
Noteholders vote to accept the Plan and implement the Plan
Compromise.  No payments will be made by the Reorganized Debtors
on account of any Allowed Claims (other than Secured Tax Claims)
until the Wells Fargo Exit Facility is indefeasibly paid in full
in Cash.


SAINT VINCENTS: Has $26.34 Million in Cash at the End of April
--------------------------------------------------------------
Saint Vincents Catholic Medical Centers of New York reported a net
loss of $2.33 million on $8.73 million in revenues for the month
ended April. 30, 2012.

Saint Vincents disclosed $124.69 million in total assets and
$645.57 million in liabilities, including $31.70 million in
postpetition liabilities as of April 30, 2012.  As a result, Saint
Vincents had total stockholders' deficit of $520.88 million as of
April 30, 2012.

At the beginning of the month, the Company had total cash of
$23.35 million.  The Company had a net increase in cash of
$2.99 million for the month of April.  As a result, the Company
ended the month with $26.34 million in cash.

                       About Saint Vincents

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

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

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

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

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



                          *********

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
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The Sunday TCR delivers securitization rating news from the week
then-ending.

For copies of court documents filed in the District of Delaware,
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                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors" Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Howard C. Tolentino, Joseph Medel C. Martirez, Denise
Marie Varquez, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R.
Villacampa, Sheryl Joy P. Olano, Carlo Fernandez, Christopher G.
Patalinghug, and Peter A. Chapman, Editors.

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

This material is copyrighted and any commercial use, resale or
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