TCR_Public/120818.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, August 18, 2012, Vol. 16, No. 229

                            Headlines

AMERICAN AIRLINES: Has $33,000,000 Profit in June
AMERICAN WEST: Ends June 30 With $1.08 Million in Cash
BETSEY JOHNSON: Ends June 30 With $4.40 Million in Cash
DEEL LLC: Ends March 31 With $6.31 Million in Cash
DELTA PETROLEUM: Reports Losses of $6.1 Million in June

DEWEY & LEBOEUF: Ends June 30 With $29.32 Million in Cash
DYNEGY HOLDINGS: Ends June 30 With $52.81 Million in Cash
ENERGY CONVERSION: Ends June 30 With $1.76 Million in Cash
ENERGY CONVERSION: United Solar Ends June With $10.57-Mil in Cash
NORTHSTAR AEROSPACE: Ends March 31 With $1.19 Million in Cash

HAWKER BEECHCRAFT: Ends June 30 With $138.1 Million in Cash
INNER CITY: ICBC Broadcast Ends May 31 With Only $562,451 in Cash
JER/JAMESON MEZZ: Reports $251,000 Net Loss in June
MF GLOBAL: Cash Reduced to $15.9 Million
OTERO COUNTY: Ends June 30 With $16.34 Million in Cash

PEMCO WORLD: Ends June 30 With $4.54 Million in Cash
RG STEEL: Reports $43.7 Million June Operating Loss
SOLYNDRA LLC: Ends June 30 With $17,000 Only in Cash
TOUSA INC: Ends June 30 With $315.3 Million in Cash





                            *********



AMERICAN AIRLINES: Has $33,000,000 Profit in June
-------------------------------------------------

                     AMR Corporation, et al.
               Condensed Consolidated Balance Sheet
                       As of June 30, 2012

ASSETS
Current Assets
Cash                                              $371,000,000
Short-term investments                           4,609,000,000
Restricted cash and short-term investments         772,000,000
Receivables, net                                 1,129,000,000
Inventories, net                                   593,000,000
Fuel derivative contracts                           24,000,000
Other current assets                               486,000,000
                                             ------------------
                                                  7,984,000,000
Equipment and property
Flight equipment, net                           10,636,000,000
Other equipment and property, net                2,076,000,000
Purchase deposits for flight equipment             759,000,000
                                             ------------------
                                                 13,471,000,000

Equipment and property under capital leases
Flight equipment, net                              247,000,000
Other equipment and property, net                   66,000,000
                                             ------------------
                                                    313,000,000

International slots and route authorities           708,000,000
Domestic slots and airport operating and gate
lease rights, less accumulated amortization,
net                                                173,000,000
Other assets                                      2,077,000,000
                                             ------------------
TOTAL ASSETS                                    $24,726,000,000
                                             ==================

Liabilities and stockholders' equity (deficit)
Current liabilities
Accounts payable                                $1,362,000,000
Accrued liabilities                              1,899,000,000
Air traffic liability                            5,151,000,000
Current maturities of long-term debt             1,598,000,000
Current obligations under capital leases            56,000,000
                                             ------------------
Total current liabilities                       10,066,000,000

Long-term debt, less current maturities          6,323,000,000
Obligations under capital leases, less
  current obligations                               393,000,000
Pension and postretirement benefits                 77,000,000
Other liabilities, deferred gains and
  deferred credits                                1,687,000,000

Liabilities subject to compromise                15,148,000,000

Stockholders' Equity (deficit)
Preferred stock                                              -
Common stock                                       341,000,000
Additional paid-in capital                       4,475,000,000
Treasury stock                                    (367,000,000)
Accumulated other comprehensive income (loss)   (3,930,000,000)
Accumulated deficit                             (9,487,000,000)
                                             ------------------
                                                 (8,968,000,000)
                                             ------------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY      $24,726,000,000
                                             ==================


                     AMR Corporation, et al.
               Consolidated Statement of Operations
                    Month Ended June 30, 2012

Revenues
Passenger - American Airlines                   $1,702,000,000
           - Regional Affiliates                    277,000,000
Cargo                                               56,000,000
Other revenues                                     207,000,000
                                             ------------------
  Total operating revenues                        2,242,000,000

Expenses
Aircraft fuel                                      693,000,000
Wages, salaries and benefits                       594,000,000
Other rentals and landing fees                     110,000,000
Maintenance, materials and repairs                 124,000,000
Depreciation and amortization                       89,000,000
Commissions, booking fees and credit card expense   93,000,000
Aircraft rentals                                    41,000,000
Food service                                        43,000,000
Special charges                                    106,000,000
Other operating expenses                           247,000,000
                                             ------------------
                                                  2,140,000,000
                                             ------------------
Operating income (loss)                             102,000,000

Other income (expense)
Interest income                                      2,000,000
Interest expense                                   (53,000,000)
Interest capitalized                                 4,000,000
Miscellaneous - net                                 (1,000,000)
                                             ------------------
                                                    (48,000,000)
                                             ------------------
Income before reorganization items                   54,000,000

Reorganization items, net                           (21,000,000)
                                             ------------------
Income before income taxes                           33,000,000
Income tax                                                    -
                                             ------------------
Net income                                          $33,000,000
                                             ==================

                     AMR Corporation, et al.
          Condensed Consolidated Statement of Cash Flows
                    Month Ended June 30, 2012

Net cash provided by (used for) Operating
Activities                                        $160,000,000

Cash flow from investing activities:
Capital expenditures, including aircraft
  lease deposits                                   (326,000,000)
Disposal of equipment and property                  41,000,000
Net (increase) decrease in short-term investments   74,000,000
                                             ------------------
Net cash used for investing activities            (211,000,000)

Cash flow from financing activities:
Payments on long-term debt and capital
  lease obligations                                 (89,000,000)
Proceeds from:
Sale leaseback transactions                         82,000,000
                                             ------------------
                                                     (7,000,000)
                                             ------------------
Net increase (decrease) in cash                     (58,000,000)
Cash at beginning of period                         429,000,000
                                             ------------------
Cash at end of period                              $371,000,000
                                             ==================

Disbursements for the month of June 2012 totaled $2.788 billion.
Disbursements to Chapter 11 professionals during the operating
period totaled $29.67 million, which included $17.86 million paid
to professionals employed by the Debtors and $11.81 million paid
to professionals retained by the Official Committee of Unsecured
Creditors.

Payment to professionals included:

   Professional                                Amount Paid
   ------------                                -----------
   Weil, Gotshal & Manges LLP                  $7.0 million
   Deloitte Financial                          $2.7 million
   Debevoise & Plimpton LLP                    $1.8 million
   Skadden, Arps, Slate & Meagher & Flom LLP   $6.4 million
   Mesirow Financial Consulting LLC            $3.9 million

A full-text copy of the June 2012 Monthly Operating Report is
available for free at http://bankrupt.com/misc/amrmorjune2012.pdf

                      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 WEST: Ends June 30 With $1.08 Million in Cash
------------------------------------------------------
American West Development Inc., on July 18, 2012, filed its
monthly operating report for the month ended June 30, 2012.

As of June 30, 2012, the Debtor had total assets of
$58.85 million, total liabilities of $196.18 million, resulting in
total stockholders' deficit of $137.33 million.

At the beginning of the month, the Debtor had $1.97 million in
cash.  The Debtor had total cash receipts of $4.21 million and
total cash disbursements of $5.10 million.  As a result, the
Debtor had $1.08 million in cash as of June 30, 2012.

A copy of the operating report is available at

  http://bankrupt.com/misc/American_West_MOR_Mar2012.pdf

                        About American West

American West Development, Inc. -- fdba Castlebay 1, Inc., et al.
-- is a homebuilder in Las Vegas, Nevada, founded on July 31,
1984.  Initially, AWDI was known as CKC Corporation, but later
changed its name.

AWDI filed for Chapter 11 bankruptcy protection (Bankr. D. Nev.
Case No. 12-12349) on March 1, 2012.  Judge Mike K. Nakagawa
presides over the case.  Brett A. Axelrod, Esq., and Micaela
Rustia Moore, Esq., at Fox Rothschild LLP, serve as AWDI's
bankruptcy counsel.  Nathan A. Schultz, P.C., is AWDI's conflicts
counsel.  AWDI hired Garden City Group as its claims and notice
agent.  American West disclosed $55,392,951 in assets and
$208,495,200 in liabilities as of the Chapter 11 filing.


BETSEY JOHNSON: Ends June 30 With $4.40 Million in Cash
-------------------------------------------------------
Betsey Johnson, LLC, filed its monthly operating report for the
month ended June 30, 2012.

At the beginning of the month, the Debtor had $3.89 million in
cash.  The Debtor had total cash receipts of $6.60 million and
total cash disbursements of $6.09 million.  As a result, the
Debtor had $4.40 million in cash as of June 30, 2012.

                        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 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.

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

In May 2012, Betsey Johnson received court approval to begin
liquidation after the Debtor failed to attract going concern
bidders.  Liquidators Gordon Brothers Group Inc. and Hilco
Merchant Resources LLC offered the top bid for the right to run
the chain's going-out-of-business sales.  The bid will bring the
Debtor about $5.2 million immediately, and more money could
trickle in to pay off its debts if the liquidation effort brings
in more money than expected.

Hilco 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.


DEEL LLC: Ends March 31 With $6.31 Million in Cash
--------------------------------------------------
Deel LLC et al., formerly Magic Brands, LLC, on July 3, 2012,
filed its monthly operating report for the period from January 1
to March 31, 2012.

At the beginning of the period, the Company had $7.53 million in
cash.  The Company had total cash disbursements of $1.23 million.
As of March 31, 2012, Deel had total cash of $6.31 million.

                      About Magic Brands

Headquartered in Austin, Texas, Magic Brands, LLC --
http://www.fuddruckers.com/-- operated 62 Fuddruckers locations
in 11 states and 3 Koo Koo Roo restaurants in California.

Magic Brands and its operating units filed for Chapter 11
protection on April 21, 2010 (Bankr. D. Del. Lead Case No.
10-11310).  It estimated assets of up to $10 million and debts at
$10 million to $50 million in its Chapter 11 petition.  Affiliate
Fuddruckers, Inc., also filed, estimating assets and debts at
$50 million to $100 million.

FocalPoint Securities, LLC, serves as investment banker to Magic
Brands, and Goulston & Storrs serves as lead bankruptcy counsel.
Kurtzman Carson Consultants, LLC, is the claims and notice agent.

The Official Committee of Unsecured Creditors has tapped Kelley
Drye & Warren LLP as counsel and Klehr Harrison Harvey Branzburg
LLP as co-counsel.

Magic Brands in July 2010 closed the sale of the Fuddruckers
stores and franchise business to restaurant operator Luby's Inc.
for $63.5 million.  Magic Brands changed its name to Deel LLC
following the Luby's sale.


DELTA PETROLEUM: Reports Losses of $6.1 Million in June
-------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Delta Petroleum Corp. is set to wrap up a bankruptcy
reorganization on Aug. 15 in which the Debtor rang up more than
$38.5 million in net losses since the Chapter 11 petition was
filed Dec. 15.  The operating report listed a net loss of $6.1
million in June on revenue of $2.1 million.  Through the end of
June since the outset of the bankruptcy, total revenue of $19.7
million led to a $38.5 million net loss.

                       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.

Delta Petroleum has won approval for its disclosure statement
explaining the Chapter 11 reorganization plan.  There's a hearing
to consider confirmation of the Plan on Aug. 15.


DEWEY & LEBOEUF: Ends June 30 With $29.32 Million in Cash
---------------------------------------------------------
Dewey & Leboeuf LLP filed its monthly operating report for the
month ended June 30, 2012.

At the beginning of the month, the Debtor had $15.65 million in
cash.  The Debtor had total cash receipts of $18.61 million and
total cash disbursements of $4.93 million.  As a result, the
Debtor had $29.32 million in cash as of June 30, 2012.

                      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 US$245
million and assets of US$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
US$6 million.  The Pension benefit Guaranty Corp. took
US$2 million of the proceeds as part of a settlement.  The Debtor
disclosed $368,117,240 in assets and $348,817,408 in liabilities
as of the Chapter 11 filing.

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 Former Partners hired Tracy L. Klestadt, Esq., and
Sean C. Southard, Esq., at Klestadt & Winters, LLP, as counsel.
The Official Committee of Unsecured Creditors tapped Deloitte
Financial Advisory Services LLP as its financial advisor.

U.S. Bankruptcy Judge Martin Glenn on July 31 approved Dewey's
request to extend its funding deadline, which would have July 31,
to Aug. 15.


DYNEGY HOLDINGS: Ends June 30 With $52.81 Million in Cash
--------------------------------------------------------
Dynegy Holdings, LLC, on August 13, 2012, filed its monthly
operating report for the month ended June 30, 2012.

The Debtor reported a net loss of $845.30 million for the month
ended June 30, 2012.

As of June 30, 2012, the Debtor had total assets of $4.49 billion,
total liabilities of $5.60 billion and total stockholders' deficit
of $1.11 billion.

As of June 1, 2012, the Debtor had $13.08 million in cash.  Dynegy
Holdings had total cash receipts of $48.08 million and total cash
disbursements of $8.35 million.  As a result, at the end of the
month, the Debtor had total cash of $52.81 million.

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

                       http://is.gd/7MBtUW

                           About Dynegy

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.

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, 2011, 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.

Dynegy Inc. on July 6, 2012, filed a voluntary petition to
reorganize under Chapter 11 (Bankr. S.D.N.Y. Case No. 12-36728) to
effectuate a merger with Dynegy Holdings, pursuant to Holdings'
Chapter 11 plan.

A settlement, which has already been approved by the bankruptcy
court, provides for Dynegy Inc. and Holdings to merge and for the
administrative claim granted to Dynegy Inc. in the Holdings
Chapter 11 case to be transferred out of Dynegy Inc. for the
benefit of its shareholders.

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.  The financial advisor is FTI Consulting.
Epiq Bankruptcy Solutions, LLC, as its notice and claims agent.

The deadline for voting on and for objecting to the Joint Plan is
Aug. 24, 2012.  The Joint Plan is subject to confirmation by the
Bankruptcy Court and the confirmation hearing is scheduled for
Sept. 5, 2012.

The Plan provides for, among other things, that Dynegy Holdings
will be merged with and into Dynegy Inc., with Dynegy Inc. being
the Surviving Entity.  The Plan provides that each holder of an
Allowed General Unsecured Claim against the Surviving Entity will
receive its Pro Rata Share of (a) 99% of the Reorganized Dynegy
Common Stock, (b) the Plan Cash Payment (of $200,000,000), and (c)
the Allocated Facilities Sale Proceeds (the amount of which is to
be determined.

The Official Committee of Unsecured Creditors in Holdings' cases
has tapped Akin Gump Strauss Hauer & Feld LLP as counsel.

Dynegy Inc. is represented by White & Case LLP and advised by
Lazard Freres & Co. LLC.

Dynegy Inc., Dynegy Holdings, LLC, the Consenting Senior
Noteholders, the Consenting Lease Certificate Holders and
Resources Capital Management Corporation entered into the First
Amendment to the Amended Plan Support Agreement.


ENERGY CONVERSION: Ends June 30 With $1.76 Million in Cash
----------------------------------------------------------
Energy Conversion Devices, Inc., on July 31, 2012, filed its
monthly operating report for the month ended June 30, 2012.

The Debtor reported a net loss of $84.95 million for the month
ended June 30, 2012.

As of June 30, 2012, the Debtor had total assets of
$956.48 million, total liabilities of $257.25 million and total
stockholders' equity of $699.23 million.

As of June 1, 2012, Energy Conversion had $3.22 million in cash.
The Debtor had total cash receipts of $192,649 and total cash
disbursements of $1.65 million.  As a result, at the end of the
month, Energy Conversion had total cash of $1.76 million.

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

                       http://is.gd/7bgozl

                     About Energy Conversion

Energy Conversion Devices -- http://energyconversiondevices.com/
-- has a renowned 51 year history since its formation in Detroit,
Michigan and has been a pioneer in materials science and renewable
energy technology development.  The company has been awarded over
500 U.S. patents and international counterparts for its
achievements.  ECD's United Solar wholly owned subsidiary has been
a global leader in building-integrated and rooftop photovoltaics
for over 25 years.  The company manufactures, sells and installs
thin-film solar laminates that convert sunlight to clean,
renewable energy using proprietary technology.

ECD filed for Chapter 11 protection (Bankr. E.D. Mich. Case No.
12-43166) on Feb. 14, 2012.  Judge Thomas J. Tucker presides over
the case.  Aaron M. Silver, Esq., Judy B. Calton, Esq., and Robert
B. Weiss, Esq., at Honigman Miller Schwartz & Cohn LLP, in
Detroit, Michigan, represent the Debtor as counsel.  The Debtor
estimated assets and debts of between $100 million and $500
million as of the petition date.

The petition was signed by William Christopher Andrews, chief
financial officer and executive vice president.

Affiliate United Solar Ovonic LLC filed a separate Chapter 11
petition on the same day (Bankr. E.D. Mich. Case No. 12-43167).
Affiliate Solar Integrated Technologies, Inc., filed a petition
for relief under Chapter 7 of the Bankruptcy Code (Bankr. E.D.
Mich. Case No. 12-43169).

An official committee of unsecured creditors has been appointed in
the case.  Foley and Lardner, LLP represents the Committee.
Scouler & Company, LLC, serves as financial advisor.

A group of shareholders had asked a bankruptcy judge to allow it
to form an official committee with lawyers and expenses paid for
by the company.

The company had estimated in court papers that it was worth
$986 million, based on nearly $800 million of investment in the
manufacturing unit.

The Debtors canceled an auction to sell USO as a going concern and
discontinued the court-approved sale process after failing to
receive an acceptable qualified bid by the bid deadline.  Quarton
Partners served as the companies' investment banker.  The Debtors
also hired auction services provider Hilco Industrial to prepare
for an orderly sale of the companies' assets.


ENERGY CONVERSION: United Solar Ends June With $10.57-Mil in Cash
-----------------------------------------------------------------
United Solar Ovonic LLC, on July 31, 2012, filed its monthly
operating report for the month ended June 30, 2012.

United Solar posted a net loss of $66.31 million on total revenue
of $1.32 million for the month ended June 30, 2012.

As of June 30, 2012, the Company had total assets of
$63.62 million, total liabilities of $843.89 million and total
stockholders' deficit of $780.27 million.

At the beginning of June, the Company had $11 million in cash.
United Solar had total cash receipts of $1.91 million and total
cash disbursements of $2.34 million.  As a result, at the end of
the month, the Company had total cash of $10.57 million.

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

                       http://is.gd/41zRmE


                     About Energy Conversion

Energy Conversion Devices -- http://energyconversiondevices.com/
-- has a renowned 51 year history since its formation in Detroit,
Michigan and has been a pioneer in materials science and renewable
energy technology development.  The company has been awarded over
500 U.S. patents and international counterparts for its
achievements.  ECD's United Solar wholly owned subsidiary has been
a global leader in building-integrated and rooftop photovoltaics
for over 25 years.  The company manufactures, sells and installs
thin-film solar laminates that convert sunlight to clean,
renewable energy using proprietary technology.

ECD filed for Chapter 11 protection (Bankr. E.D. Mich. Case No.
12-43166) on Feb. 14, 2012.  Judge Thomas J. Tucker presides over
the case.  Aaron M. Silver, Esq., Judy B. Calton, Esq., and Robert
B. Weiss, Esq., at Honigman Miller Schwartz & Cohn LLP, in
Detroit, Michigan, represent the Debtor as counsel.  The Debtor
estimated assets and debts of between $100 million and $500
million as of the petition date.

The petition was signed by William Christopher Andrews, chief
financial officer and executive vice president.

Affiliate United Solar Ovonic LLC filed a separate Chapter 11
petition on the same day (Bankr. E.D. Mich. Case No. 12-43167).
Affiliate Solar Integrated Technologies, Inc., filed a petition
for relief under Chapter 7 of the Bankruptcy Code (Bankr. E.D.
Mich. Case No. 12-43169).

An official committee of unsecured creditors has been appointed in
the case.  Foley and Lardner, LLP represents the Committee.
Scouler & Company, LLC, serves as financial advisor.

A group of shareholders had asked a bankruptcy judge to allow it
to form an official committee with lawyers and expenses paid for
by the company.

The company had estimated in court papers that it was worth
$986 million, based on nearly $800 million of investment in the
manufacturing unit.

The Debtors canceled an auction to sell USO as a going concern and
discontinued the court-approved sale process after failing to
receive an acceptable qualified bid by the bid deadline.  Quarton
Partners served as the companies' investment banker.  The Debtors
also hired auction services provider Hilco Industrial to prepare
for an orderly sale of the companies' assets.


NORTHSTAR AEROSPACE: Ends March 31 With $1.19 Million in Cash
-------------------------------------------------------------
Northstar Aerospace (USA) Inc., et al., on July 20, 2012,
filed its monthly operating report for the monthly and inception
to date periods ended June 30, 2012.

The Debtor reported a net loss of $368,000 for the period from
June 14 through June 30, 2012.

As of June 30, 2012, the Debtor had total assets of
$100.96 million, total liabilities of $82.22 million and total
stockholders' deficit of $18.74 million.

At the beginning of the period, Northstar Aerospace had $326,000
in cash.  The Debtor had total cash receipts of $1.25 million and
total cash disbursements of $3.06 million.  The Debtor also had
net cash advances of $3.26 million.  As a result, at the end of
the period, Northstar Aerospace had total cash of $1.19 million.

                     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.

At the July 24, 2012 Sale Hearing, the U.S. Bankruptcy Court for
the District of Delaware entered its order approving the sale of
substantially all of the assets of Northstar Aerospace (USA) Inc.,
et al., to Heligear Acquisition Co. or its designee for the US
Purchased Assets, and Heligear Canada Acquisition Corporation for
the Canadian Purchased Assets.


HAWKER BEECHCRAFT: Ends June 30 With $138.1 Million in Cash
-----------------------------------------------------------
Hawker Beechcraft Inc. and its affiliates, on July 25, 2012,
filed its monthly operating report for the month ended June 30,
2012.

The Debtor posted a net loss of $34.4 million on total sales of
$203 million for the month ended June 30, 2012.

As of June 30, 2012, the Debtor had total assets of $2.69 billion,
total liabilities of $3.93 billion and total stockholders' deficit
of $1.24 billion.

As of June 1, 2012, the Debtor had $145 million in cash.  Hawker
Beechcraft had total cash receipts of $164 million and total cash
disbursements of $170.9 million.  As a result, as of June 30,
2012, the Debtor had total cash of $138.1 million.

                      About Hawker Beechcraft

Hawker Beechcraft Inc., a designer and manufacturer of light and
medium-sized jet, turboprop and piston aircraft, filed for Chapter
11 reorganization together with 17 affiliates (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 Beechcraft
disclosed assets of $1,831,097 plus undetermined amounts, and
liabilities of $1,704,736,958 plus undetermined amounts.

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.  The Committee tapped
FTI Consulting, Inc., as its financial advisor.


INNER CITY: ICBC Broadcast Ends May 31 With Only $562,451 in Cash
-----------------------------------------------------------------
ICBC Broadcast Holdings, Inc., an affiliate of Inner City Media
Corp., on July 18, 2012, filed its monthly operating report for
the month ended May 31, 2012.

As of May 31, 2012, the Company had total assets of
$40.04 million, total liabilities of $273.15 million and total
stockholders' deficit of $233.11 million.

At the beginning of the month, the Company had $1.27 million in
cash.  The Company had total cash receipts of $1.28 million and
total cash disbursements of $1.98 million.  As a result, at the
end of May, ICBC Broadcast had total cash of $562,451.

                           About Inner City

On Aug. 23, 2011, affiliates of Yucaipa and CF ICBC LLC, Fortress
Credit Funding I L.P., and Drawbridge Special Opportunities Fund
Ltd., signed involuntary Chapter 11 petitions for Inner City Media
Corp. and its affiliates (Bankr. S.D.N.Y. Case Nos. 11-13967 to
11-13979) to collect on a $254 million debt.

The Petitioning Creditors are party to the senior secured credit
Facility pursuant to which they (or their predecessors in
interest) extended $197 million in loans to the Alleged Debtors to
be used for general corporate purposes.  More than two years ago,
the Alleged Debtors defaulted under the Senior Secured Credit
Facility, and in any event the entire amount of principal and
accrued and unpaid interest and fees became immediately due and
payable on Feb. 13, 2010.

Inner City Media's affiliates subject to the involuntary Chapter
11 are ICBC Broadcast Holdings, Inc., Inner-City Broadcasting
Corporation of Berkeley, ICBC Broadcast Holdings-CA, Inc., ICBC-
NY, L.L.C., ICBC Broadcast Holdings-NY, Inc., Urban Radio, L.L.C.,
Urban Radio I, L.L.C., Urban Radio II, L.L.C., Urban Radio III,
L.L.C., Urban Radio IV, L.L.C., Urban Radio of Mississippi,
L.L.C., and Urban Radio of South Carolina, L.L.C.

Judge Shelley C. Chapman granted each of Inner City Media
Corporation and its debtor affiliates relief under Chapter 11 of
the United States Code.  The decision came after considering the
involuntary petitions, and the Debtors' answer to involuntary
petitions and consent to entry of order for relief and reservation
of rights.

Attorneys for Yucaipa Corporate Initiatives Fund II, L.P. and
Yucaipa Corporate Initiatives (Parallel) Fund II, L.P. are John J.
Rapisardi, Esq., and Scott J. Greenberg, Esq., at Cadwalader,
Wickersham & Taft LLP.  Attorneys for CF ICBC LLC, Fortress Credit
Funding I L.P., and Drawbridge Special Opportunities Fund Ltd. are
Adam C. Harris, Esq., and Meghan Breen, Esq., at Schulte Roth &
Zabel LLP.

Akin Gump Strauss Hauer & Feld LLP serves as the Debtors' counsel.

Rothschild Inc. serves as the Debtors' financial advisors and
investment bankers.  GCG Inc. serves as the Debtors' claims agent.

The United States Trustee said that an official committee under 11
U.S.C. Sec. 1102 has not been appointed in the bankruptcy case of
Inner City Media because an insufficient number of persons holding
unsecured claims against the Debtor has expressed interest in
serving on a committee.


JER/JAMESON MEZZ: Reports $251,000 Net Loss in June
---------------------------------------------------
JER/Jameson Mezz Borrower I LLC and its affiliates, on July 20,
2012, filed its monthly operating report for the month ended
June 30, 2012.

JER/Jameson Mezz reported a net loss of $251,000 for the month
ended June 30, 2012.

As of June 30, 2012, the Debtor had total assets of
$31.13 million, total liabilities of $41.63 million and total
stockholders' deficit of $10.50 million.

               About JER/Jameson Mezz Borrower II

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

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

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

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

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

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

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

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

Judge Mary F. Walrath presides over the case.  The Debtors tapped
Ashby & Geddes, P.A. to represent their restructuring efforts.
Epiq Bankruptcy Solutions, LLC, serves as its noticing, claims and
balloting agent.

Each of the Debtors estimated $100 million to $500 million in
assets and $10 million to $50 million in debts.  JER/Jameson
Properties LLC disclosed $294,662,815 in assets and $163,424,762
in liabilities as of the Chapter 11 filing.  The petitions were
signed by James L. Gregory, vice president.

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

The U.S. Trustee has not appointed an official Committee of
unsecured creditors in any of the Debtors' cases.


MF GLOBAL: Cash Reduced to $15.9 Million
----------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Louis Freeh, the trustee for MF Global Holdings Ltd.,
reported to the bankruptcy court Aug. 14 that about $15.9 million
remains from what was originally $25.3 million to operate the
Chapter 11 reorganization of the holding company for the
liquidating commodities broker.

The report relates that according to the trustee's operating
report, in July, about $612,000 in cash was used.  There is now
about $35 million in fees that can't be paid for Mr. Freeh, his
lawyers, lawyers for the creditors' committee and lawyers for the
holding company before the trustee's appointment, according to the
operating report.  The fees can't be paid because there is no
available cash and no loan to finance the Chapter 11 effort.

The report relates that the cash Freeh uses represents collateral
for loans owing to secured lender JPMorgan Chase Bank NA.  MF
Global Holdings is the parent of MF Global Inc., the liquidating
commodities broker $1.6 billion short in accounts holding customer
property.  The expenses of the brokerage bankruptcy are paid by
the Securities Investor Protection Corp.

The report notes that at the outset of bankruptcy in October, the
holding company had no available cash other than $25.3 million in
an account held by the bankrupt finance subsidiary MF Global
Finance USA Inc.  The account was maintained at JPMorgan, which
claims the money is collateral for loans the bank made and can
only be used with the bank's permission.  Arrangements were later
made to use the bank's cash collateral to pay expenses other than
professional fees.


                          About MF Global

New York-based MF Global (NYSE: MF) -- http://www.mfglobal.com/--
is one of the world's leading brokers of commodities and listed
derivatives.  MF Global provides access to more than 70 exchanges
around the world.  The firm is also one of 22 primary dealers
authorized to trade U.S. government securities with the Federal
Reserve Bank of New York.  MF Global's roots go back nearly 230
years to a sugar brokerage on the banks of the Thames River in
London.

MF Global Holdings Ltd. and MF Global Finance USA Inc. filed
voluntary Chapter 11 petitions (Bankr. S.D.N.Y. Case Nos. 11-15059
and 11-5058) on Oct. 31, 2011, after a planned sale to Interactive
Brokers Group collapsed.  As of Sept. 30, 2011, MF Global had
$41,046,594,000 in total assets and $39,683,915,000 in total
liabilities.  It is easily the largest bankruptcy filing so far
this year.

Judge Honorable Martin Glenn presides over the Chapter 11 case.
J. Gregory Milmoe, Esq., Kenneth S. Ziman, Esq., and J. Eric
Ivester, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP, serve
as bankruptcy counsel.  The Garden City Group, Inc., serves as
claims and noticing agent.  The petition was signed by Bradley I.
Abelow, Executive Vice President and Chief Executive Officer of MF
Global Finance USA Inc.

The Securities Investor Protection Corporation commenced
liquidation proceedings against MF Global Inc. to protect
customers.  James W. Giddens was appointed as trustee pursuant to
the Securities Investor Protection Act.  He is a partner at Hughes
Hubbard & Reed LLP in New York.

Jon Corzine, the former New Jersey governor and co-CEO of
Goldman Sachs Group Inc., stepped down as chairman and chief
executive officer of MF Global just days after the bankruptcy
filing.

U.S. regulators are investigating about $633 million missing from
MF Global customer accounts, a person briefed on the matter said
Nov. 3, according to Bloomberg News.

Bankruptcy Creditors' Service, Inc., publishes MF GLOBAL
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by MF Global Holdings and other insolvency and
bankruptcy proceedings undertaken by its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


OTERO COUNTY: Ends June 30 With $16.34 Million in Cash
------------------------------------------------------
Otero County Hospital Association, Inc., dba Gerald Champion
Regional Medical Center, filed its monthly operating report for
the month ended June 30, 2012.

The Debtor started the month with $16.34 million in cash as of
June 1, 2012.  The Debtor had total receipts of $7.05 million and
total disbursements of $7.04 million.  At the end of the month,
the Debtor had practically the same level of cash -- $16.34
million.

The Company's balance sheet as of June 30, 2012, showed $142.34
million in assets, total liabilities of $66.80 million, and a
stockholder's equity of $75.54 million.

For the month ended June 30, 2012, The Company had total patient
revenue of $19.13 million and operating loss of $7.33 million.

                    About Otero County Hospital

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

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

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

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

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

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


PEMCO WORLD: Ends June 30 With $4.54 Million in Cash
----------------------------------------------------
Pemco World Air Services, Inc., on July 24, 2012, filed its
monthly operating report for the month ended June 30, 2012.

The Company reported a net loss of $927,000 on total sales of
$7.57 million for the month ended June 30, 2012.

As of June 30, 2012, the Company had total assets of
$72.30 million, total liabilities of $95.80 million and total
stockholders' deficit of $23.50 million.

At the beginning of June, the Company had $2.83 million in cash.
Pemco World had total cash receipts of $12.83 million and total
cash disbursements of $11.12 million.  As a result, at the end of
the month, the Company had total cash of $4.54 million.

                  About Pemco World Air Services

Headquartered in Tampa, Florida Pemco World Air Services --
http://www.pemcoair.com/-- performs large jet MRO services, and
has operations in Dothan, AL (military MRO and commercial
modification), Cincinnati/Northern Kentucky (regional aircraft
MRO), and partner operations in Asia.

Pemco filed a Chapter 11 bankruptcy petition (Bankr. D. Del. Case
No. 12-10799) on March 5, 2012.  Young Conaway Stargatt & Taylor,
LLP has been tapped as general bankruptcy counsel; Kirkland &
Ellis LLP as special counsel for tax and employee benefits issues;
AlixPartners, LLP as financial advisor; Bayshore Partners, LLC as
investment banker; and Epiq Bankruptcy Solutions LLC as notice and
claims agent.

On March 14, 2012, the U.S. Trustee appointed an official
committee of unsecured creditors.

On April 13, 2012, Sun Aviation Services LLC (Bankr. D. Del. Case
No. 12-11242) filed its own Chapter 11 bankruptcy petition.  Sun
Aviation owns 85.08% of the stock of Pemco debtor-affiliate WAS
Aviation Services Holding Corp., which in turn owns 100% of the
stock of debtor WAS Aviation Services Inc., which itself owns 100%
of the stock of Pemco World Air Services Inc.  Pemco also owes Sun
Aviation $5.6 million.  As a result, Sun Aviation is seeking
separate counsel.  However, Sun Aviation obtained an order jointly
administering its case with those of the Pemco debtors.

On June 15 the bankruptcy court approved sale of Pemco's business
for $41.9 million cash to an affiliate of VT Systems Inc. from
Alexandria, Virginia.  Boca Raton, Florida-based Sun Capital was
under contract to make the first bid at auction for the provider
of heavy maintenance and repair services for commercial jet
aircraft.


RG STEEL: Reports $43.7 Million June Operating Loss
---------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that RG Steel LLC reported a $55.5 million net loss in
June on total sales of $163.4 million.  The cost of sales exceeded
revenue by $33.9 million in June, according to the operating
report filed with the U.S. Bankruptcy Court in Delaware.
The report relates the loss from operations for the month was
$43.7 million.

                          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.  Kramer Levin Naftalis & Frankel LLP represents the
Committee.  Huron Consulting Services LLC serves as it's financial
advisor.


SOLYNDRA LLC: Ends June 30 With $17,000 Only in Cash
----------------------------------------------------
Solyndra LLC, et al., on July 23, 2012, filed its monthly
operating report for the month ended June 30, 2012.

The Debtor posted a net loss of $4.51 million on revenue of
$20,000 for the month ended June 30, 2012.

As of June 30, 2012, the Debtor had total assets of
$490.33 million, total liabilities of $907.92 million and total
stockholders' deficit of $417.59 million.

At the beginning of the month, the Debtor had $404,000 in cash.
Solyndra had total cash disbursements of $1.63 million.  As of
June 30, 2012, Solyndra had total cash of $17,000.

                        About Solyndra LLC

Founded in 2005, Solyndra LLC was a U.S. manufacturer of solar
photovoltaic solar power systems specifically designed for large
commercial and industrial rooftops and for certain shaded
agriculture applications.  The Company had 968 full time employees
and 211 temporary employees.  Solyndra has sold more than 500,000
of its panels since 2008 and generated cumulative sales of over
$250 million.

Fremont, California-based Solyndra and affiliate 360 Degree Solar
Holdings Inc. sought Chapter 11 bankruptcy protection (Bankr. D.
Del. Lead Case No. 11-12799) on Sept. 6, 2011.  Solyndra is at
least the third solar company to seek court protection from
creditors since August 2011.

Judge Mary F. Walrath presides over the Debtors' cases.  The
Debtors are represented by Pachulski Stang Ziehl & Jones LLP as
legal adviser.  AlixPartners LLP serves as noticing claims and
balloting agent.  Imperial Capital LLC serves as the company's
investment banker and financial adviser.  The Debtors also tapped
former Massachusetts Governor William F. Weld, now with the law
firm McDermott Will & Emery, to represent the company in
government investigations and related litigation.  BDO Consulting,
a division of BDO USA, LLP, as financial advisor and BDO Capital
Advisors, LLC, serves as investment banker for the creditors'
panel.

The Official Committee of Unsecured Creditors of Solyndra LLC has
tapped Blank Rome LLP as counsel and BDO Consulting as financial
advisors.

In October 2011, the Debtors hired Berkeley Research Group, LLC,
and designated R. Todd Neilson as Chief Restructuring Officer.

Solyndra owed secured lenders $783.8 million, including
$527.8 million to the U.S. government pursuant to a federal loan
guarantee, and held assets valued at $859 million as of the
Petition date.  The U.S. Federal Financing Bank, owned by the U.S.
Treasury Department, is the Company's biggest lender.

When they filed for Chapter 11, the Debtors pursued a two-pronged
strategy to effectuate either a sale of their business to a
"turnkey" buyer who may acquire substantially all of Solyndra's
assets or, if the Debtors were unable to identify any potential
buyers, an orderly liquidation of the assets for the benefit of
their creditors.

Solyndra did not receive acceptable offers to buy the business as
a going concern.  Two auctions late last year brought in a total
of $8 million.  A three-day auction in February generated another
$3.8 million.  An auction in June generated $1.79 million from the
sale of 7,200 lots of equipment.


TOUSA INC: Ends June 30 With $315.3 Million in Cash
---------------------------------------------------
TOUSA Inc., et al., filed its monthly operating report for the
month ended June 30, 2012.

The company reported a net loss of $653,143 for the month ended
June 30, 2012.

As of June 30, 2012,  the company had total assets of $350.75
million, total liabilities of $1.92 billion, resulting in a total
stockholders' deficit of $1.57 billion.

At the beginning of June, the Debtor had $319.16 million in cash.
The company had total cash receipts of $661,299 and total cash
disbursements of $4.52 million.  As a result, at the end of June,
the Debtor had total cash of $315.30 million.

                         About TOUSA Inc.

Headquartered in Hollywood, Florida, TOUSA, Inc. (Pink Sheets:
TOUS) -- http://www.tousa.com/-- fka Technical Olympic U.S.A.
Inc., dba Technical U.S.A., Inc., Engle Homes, Newmark Homes L.P.,
TOUSA Homes Inc. and Newmark Homes Corp. was a leading homebuilder
in the United States before it sought Chapter 11 protection.

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

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

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

The Tousa committee filed a Chapter 11 plan in July 2010 based on
an assumption it would win the appeal.



                          *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers"
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

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

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                           *********

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

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

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

This material is copyrighted and any commercial use, resale or
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 Peter Chapman
at 240/629-3300.

                  *** End of Transmission ***