TCR_Public/121119.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

           Monday, November 19, 2012, Vol. 16, No. 322

                            Headlines

1ST FINANCIAL: Incurs $919,000 Net Loss in Third Quarter
2519 JACKSON: Case Summary & 2 Unsecured Creditors
501 GRANT: Involuntary Chapter 11 Case Summary
AES EASTERN: Creditors Voting on 12% Liquidating Plan
AFFINITY GROUP: Reports $3.3 Million Net Income in Third Quarter

AGY HOLDING: Files Form 10-Q, Incurs $20.4-Mil. Net Loss in Q3
ALLIED DEFENSE: Has $43.3 Million Net Assets in Liquidation
ALLIED SECURITY: Moody's Rates First Lien Term Loan 'Ba3'
AMERICAN AIRLINES: Apologizes for Pilot Disruption
AMERICAN AIRLINES: PSAs to Vote on Union Representation

AMERICAN ALLOY: Case Summary & 12 Unsecured Creditors
AMERICAN APPAREL: Incurs $19 Million Net Loss in Third Quarter
AMERICAN SERVICE: A.M. Best Place 'B' FSR Under Review
AMF BOWLING: Moody's Cuts CFR to 'Ca' on Bankruptcy Filing
AMPAL-AMERICAN: Bank Accelerates MAG Indebtedness

ANTERO RESOURCES: Moody's Rates New $300MM Sr. Unsec. Notes 'B2'
BAKERS FOOTWEAR: Lands New Loan to Reorganize Around 63 Stores
BANK OF THE CAROLINAS: Incurs $3.2 Million Net Loss in Q3
BEHRINGER HARVARD: Reports $14.8-Mil. Net Income in Third Quarter
BENTLEY PARTNERS: Case Summary & 8 Unsecured Creditors

BERNARD L. MADOFF: Trustee's $245 Million Cohmad Suit Stays Alive
BG MEDICINE: Incurs $6.8-Mil. Net Loss in Third Quarter
BJ REALTY: Chapter 11 Case Summary & 5 Unsecured Creditors
BLUE EARTH: Incurs $1.6-Mil. Net Loss in Third Quarter
BMB MUNAI: Lowers Net Loss to $1 Million in Fiscal 2012 Q2

BOMBARDIER: Moody's Withdraws 'Ba2' Rating on New Notes
BROADVIEW NETWORKS: Emerges From Chapter 11 Bankruptcy Protection
C&C FOOD: Case Summary & 8 Unsecured Creditors
CAPITOL CITY: Posts $181,400 Net Income in Third Quarter
CCH II: Moody's Affirms 'Ba3' CFR; Outlook Remains Positive

CENTRAL EUROPEAN: Investor Concerned Over Company's Condition
CENTRAL FALLS, RI: S&P Ups Rating on General Obligation Debt to BB
CENTRAL FEDERAL: Incurs $1.9 Million Net Loss in Third Quarter
CHANDNI LLC: Case Summary & 9 Unsecured Creditors
CHINA PRECISION: Delays Form 10-Q for Sept. 30 Quarter

COMMUNITY FINANCIAL: Offering $24MM of Preferred & Common Shares
COMBIMATRIX CORP: Incurs $1.3-Mil. Net Loss in Third Quarter
COMMUNITY SHORES: Reports $1,900 Net Income in Third Quarter
CONGRESS COMMONS: Voluntary Chapter 11 Case Summary
CONQUEST SANTA FE: Files for Chapter 11 in Tucson

CONQUEST SANTA: Voluntary Chapter 11 Case Summary
COPPER HILL: Case Summary & 19 Largest Unsecured Creditors
CORNERSTONE BANCSHARES: Files Form 10-Q, Incurs $364K Loss in Q3
CULLMAN REGIONAL: Fitch Holds 'BB+' Rating on $66MM Revenue Bonds
DENVER POST: Mulls Rockies Sale; CEO Dispels Bankruptcy Fears

DIALOGIC INC: Files Form 10-Q, Incurs $290,000 Net Loss in Q3
DIAMOND T: Case Summary & 20 Largest Unsecured Creditors
EASTMAN KODAK: Gets Bankruptcy Control Until February 28
EASTMAN KODAK: Settlement With ATLC Approved Without Objection
EASTMAN KODAK: Spells Out Details on New $793 Million Financing

EDISON MISSION: Misses $97 Million Interest Payment
EMMIS COMMUNICATIONS: To Issue 2.5MM Shares Under Incentive Plan
FENTURA FINANCIAL: Reports $1.4 Million Net Income in 3rd Quarter
FIRSTFED FINANCIAL: Wins Confirmation of Chapter 11 Plan
FNBH BANCORP: Reports $118,000 Net Income in Third Quarter

FOUR OAKS: Incurs $2.2 Million Net Loss in Third Quarter
FRANK SMITH'S: Case Summary & 20 Largest Unsecured Creditors
FRIENDFINDER NETWORKS: Incurs $7.7-Mil. Net Loss in 3rd Quarter
FULLCIRCLE REGISTRY: Reports $103,800 Net Loss in Third Quarter
GAMETECH INT'L: Wins Approval of Outline for Liquidating Plan

GATEWAY INSURANCE: A.M. Best Places 'B' FSR on Review
GENERAL GROWTH: Completes Financing on $1.2BB Property-Level Debt
GLOBAL SHIP: Has $8.3 Million Net Income in Third Quarter
HARTWICK COLLEGE: Moody's Withdraws 'Ba1' Rating on 2002A Bonds
HELICOS BIOSCIENCES: Files for Ch.11 Creditor Protection

HIGHLANDS BANKSHARES: Reports $782,000 Net Income in 3rd Quarter
HOMETOWN COMMUNITY: Closed; CertusBank Assumes All Deposits
HORIYOSHI WORLDWIDE: Incurs $499,400 Net Loss in Third Quarter
HORIZON PHARMA: Incurs $17-Mil. Net Loss in Third Quarter
HOSTESS BRANDS: To Wind Down Operations, Drops Reorganization

HOSTESS BRANDS: Has "Potentially-Viable Proposals" for Some Assets
HOSTESS BRANDS: Disclosure Statement Hearing Suspended Sine Die
HOSTESS BRANDS: To Cancel Retiree Benefits, Wants Panel Appointed
HUDSON PRODUCTS: Moody's Upgrades CFR to 'B2'; Outlook Stable
IB&B LLC: Case Summary & 20 Largest Unsecured Creditors

ICEWEB INC: Directors Provide $1.5 Million to Support Expansion
IMH FINANCIAL: Incurs $8.2 Million Net Loss in Third Quarter
INNOVATION VENTURE: Moody's Says Recent FDA Reports Credit Neg.
JACKSONVILLE BANCORP: Incurs $10.7-Mil. Net Loss in 3rd Quarter
JAMES RIVER: S&P Hikes CCR to 'CCC' on Completed Debt Repurchases

JONES SODA: Incurs $324,000 Net Loss in Third Quarter
JORDANELLE HOLDINGS: Voluntary Chapter 11 Case Summary
KENT LINDEMUTH: Blames Economic Downturn for Bankruptcy Filing
KMP HOLDINGS: Case Summary & 15 Unsecured Creditors
LANYARD HOLDINGS: Case Summary & 4 Unsecured Creditors

LARRY MILLER: Case Summary & 20 Largest Unsecured Creditors
LEHMAN BROTHERS: European Unit to Pay GBP1.75-Bil. to Creditors
LEHMAN BROTHERS: Trustee Proposes Closing Agreements With IRS
LEHMAN BROTHERS: 36th Status Report on Claims Settlement
LEHMAN BROTHERS: Wins Approval of LB Finance Settlement

LEHMAN BROTHERS: Judge Backs $158-Mil. in Professional Fees
LEHMAN BROTHERS: Man Group Sells Claims to Baupost for $456-Mil.
LENCO MOBILE: Reports $2.9-Mil. Net Loss in Third Quarter
LIFECARE HOLDINGS: Incurs $97.5 Million Net Loss in 3rd Quarter
LOGOS BAPTIST: Case Summary & 20 Largest Unsecured Creditors

LON MORRIS: To Auction Off Properties on December 13
MACROSOLVE INC: Incurs $678,000 Net Loss in Third Quarter
MARMOTECH INC: Case Summary & 11 Unsecured Creditors
MECH PROPERTIES: Case Summary & 5 Unsecured Creditors
MERRIMACK PHARMACEUTICALS: Incurs $23-Mil. Net Loss in 3rd Quarter

MERRIMACK PHARMACEUTICALS: Obtains $40MM Term Loan from Hercules
MF GLOBAL: Republicans Blame Corzine for Failure
MILAGRO OIL: Incurs $21.5-Mil. Net Loss in Third Quarter
MONITOR COMPANY: To Lay Off 235 Employees as Part of Bankruptcy
MUNICIPAL MORTGAGE: Incurs $13.4 Million Net Loss in 3rd Quarter

NALLS DEVELOPMENT: Can Access MV Property Cash Collateral
NALLS DEVELOPMENT: Files Schedule of Assets and Liabilities
NBAVE INC: Files for Chapter 11 to Block Foreclosure
NORTHFIELD INVESTMENT: Case Closed After Plan Confirmation
NORTHWOODS CORP: Case Summary & 9 Unsecured Creditors

NSG HOLDINGS: Moody's Raises Sr. Secured  Debt Rating to 'Ba1'
NUTRA PHARMA: Incurs $4.4 Million Net Loss in 2011
NUVEEN INVESTMENTS: Moody's Corrects Sept. 5 Rating Release
OCEAN DRIVE: Can Use Rent to Pay Operating Expenses
PARADOX PROPERTIES: Case Summary & 11 Unsecured Creditors

PATRIOT COAL: To Halt Mountaintop-Removal Mining in Appalachia
PEREGRINE FINANCIAL: Claim Deadline Pushed Out to Dec. 14
PEREGRINE FINANCIAL: Receives Non-Compliance Notice From Nasdaq
PERRY RENTAL: Case Summary & 4 Unsecured Creditors
PETRON ENERGY II: Incurs $-Mil. Net Loss in Third Quarter

PIONEER POINT: Seeks Recognition of UK Proceedings
PIONEER POINT: Chapter 15 Case Summary
PROCESS AMERICA: Case Summary & 20 Largest Unsecured Creditors
PROTEONOMIX INC: Suspending Filing of Reports with SEC
RACKWISE INC: Agrees to Sell $5.5MM Conv. Notes to Black Diamond

RANCHO LAS FLORES: REIT Firm Acquires Summit Valley Property
ROSETTA GENOMICS: To Hold Extraordinary Meeting on Dec. 19
RUBICON FINANCIAL: Incurs $66,600 Net Loss in Third Quarter
SAVE MOST: Files for Chapter 11 in California
SAVE MOST: Case Summary & 20 Largest Unsecured Creditors

SCHLUTER FAMILY: Voluntary Chapter 11 Case Summary
SEARS HOLDINGS: Completes Partial Spin-Off of Sears Canada
SIGNET SOLAR: Files for Chapter 11 in San Francisco
SIGNET SOLAR: Case Summary & 20 Largest Unsecured Creditors
SOLYNDRA LLC: Seagate Approved to Buy Fremont Plant

SPEEDEMISSIONS INC: Incurs $88,900 Net Loss in Third Quarter
STANFORD INT'L: Receiver Sues Two Former Law Firms
STARKVILLE COMMERCIAL: Voluntary Chapter 11 Case Summary
STEVE PATTERSON: Case Summary & Unsecured Creditor
SUNSET MARINE: Case Summary & 8 Unsecured Creditors

SWORDFISH FINANCIAL: Delays Form 10-Q for Third Quarter
SYNAGRO TECHNOLOGIES: Seeks Waiver From Senior Lenders
TARGUS GROUP: Moody's Says Sena Acquisition Credit Negative
TEARLAB CORP: Reports $4.6-Mil. Net Loss in Third Quarter
TEXAS WYOMING: 5th Circuit Continues Redefining United Operating

THERAPEUTICSMD INC: Incurs $4.2 Million Net Loss in 3rd Quarter
TRANS USA: Voluntary Chapter 11 Case Summary
TRIAD GUARANTY: Incurs $33.3 Million Net Loss in Third Quarter
UNIVERSITY OF NORTHERN CALIF.: Case Summary & Creditors' List
US AIRWAYS: FA Conduct Nationwide Protest, Strike Vote Underway

VERIS GOLD: Reports $9-Mil. Net Income in Third Quarter
VIPER POWERSPORTS: Incurs $1.2-Mil. Net Loss in Third Quarter
VOTVOT INC: Case Summary & 4 Unsecured Creditors
VISUALANT INC: PMB Helin Discloses Going Concern Doubt
VR1 HOSPITALITY: Voluntary Chapter 11 Case Summary

W.R. GRACE: Files Post-Confirmation Report for Third Quarter
W.R. GRACE: CEO Remains Positive on Outcome of Plan Appeals
W.R. GRACE: Proposes to Set Up Qualified Settlement Fund
W.R. GRACE: Libby Victims Have Until Nov. 20 to Enroll in Plan
WESTERN HOST: Case Summary & 20 Largest Unsecured Creditors

ZBB ENERGY: Incurs $3-Mil. Net Loss in Q1 Ended Sept. 30

* Moody's Says Weak Pace of Global Macro Recovery to Persist
* Moody's Says FSOC Proposals Credit Negative for MMF Managers
* Moody's Says Global Bank Debt Issuance Drops Due to EU Crisis

* PBGC Records $34 Billion Deficit for FY2012

* Fulbright & Jaworski to Merge With Norton Rose

* BOND PRICING: For The Week From Nov. 12 to 16, 2012

                            *********

1ST FINANCIAL: Incurs $919,000 Net Loss in Third Quarter
--------------------------------------------------------
1st Financial Services Corporation filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q
recording a net loss available to common stockholders of $919,000
on $6.54 million of total interest income for the three months
ended Sept. 30, 2012, compared with a net loss available to common
stockholders of $5.78 million on $7.01 million of total interest
income for the same period a year ago.

For the nine months ended Sept. 30, 2012, the Company reported a
net loss available to common stockholders of $498,000 on $19.51
million of total interest income, compared with a net loss
available to common stockholders of $6.19 million on $21.36
million of total interest income for the same period during the
prior year.

The Company reported a net loss of $20.5 million on net interest
income of $20.5 million for 2011, compared with a net loss of
$5.3 million on interest income of $20.4 million for 2010.

The Company's balance sheet at Sept. 30, 2012, showed $725.19
million in total assets, $706.39 million in total liabilities and
$18.79 million in total stockholders' equity.

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

                        http://is.gd/pd046Z

                        About 1st Financial

Hendersonville, North Carolina-based 1st Financial Services
Corporation is the bank holding company for Mountain 1st Bank &
Trust Company.  1st Financial has essentially no other assets or
liabilities other than its investment in the Bank.  1st
Financial's business activity consists of directing the activities
of the Bank.  The Bank has a wholly owned subsidiary, Clear Focus
Holdings LLC.

The Bank was incorporated under the laws of the state of North
Carolina on April 30, 2004, and opened for business on May 14,
2004, as a North Carolina chartered commercial bank.  At Dec. 31,
2011, the Bank was engaged in general commercial banking primarily
in nine western North Carolina counties: Buncombe, Catawba,
Cleveland, Haywood, Henderson, McDowell, Polk, Rutherford, and
Transylvania.  The Bank operates under the banking laws of North
Carolina and the rules and regulations of the Federal Deposit
Insurance Corporation (the FDIC).

As a North Carolina bank, the Bank is subject to examination and
regulation by the FDIC and the North Carolina Commissioner of
Banks (the Commissioner).  The Bank is further subject to certain
regulations of the Federal Reserve governing reserve requirements
to be maintained against deposits and other matters.  The business
and regulation of the Bank are also subject to legislative changes
from time to time.

The Bank's primary market area is southwestern North Carolina.
Its main office and Hendersonville South office are located in
Hendersonville, North Carolina.  At Dec. 31, 2011, the Bank also
had full service branch offices in Asheville, Brevard, Columbus,
Etowah, Forest City, Fletcher, Hickory, Marion, Shelby, and
Waynesville, North Carolina.  The Bank's loans and deposits are
primarily generated from within its local market area.

After auditing the 2011 results, Elliott Davis PLLC, in
Greenville, South Carolina, expressed substantial doubt about 1st
Financial Services' ability to continue as a going concern.  The
independent auditors noted that the Company has suffered recurring
losses that have eroded regulatory capital ratios, and the
Company's wholly owned subsidiary, Mountain First Bank & Trust
Company, is under a regulatory Consent Order with the Federal
Deposit Insurance Corporation and the North Carolina Commissioner
of Banks that requires, among other provisions, capital ratios to
be maintained at certain heightened levels.  "In addition, the
Company is under a Written Agreement with the Federal Reserve Bank
of Richmond that requires, among other provisions, the submission
and implementation of a capital plan to improve the Company and
the Bank's capital levels.  As of Dec. 31, 2011, both the Bank and
the Company are considered "significantly undercapitalized" based
on their respective regulatory capital levels."


2519 JACKSON: Case Summary & 2 Unsecured Creditors
--------------------------------------------------
Debtor: 2519 Jackson Street, LLC
        P.O. Box 18887
        Seattle, WA 98118

Bankruptcy Case No.: 12-21431

Chapter 11 Petition Date: November 13, 2012

Court: U.S. Bankruptcy Court
       Western District of Washington (Seattle)

Judge: Karen A. Overstreet

Debtor's Counsel: Larry B. Feinstein, Esq.
                  VORTMAN & FEINSTEIN
                  500 Union Street, Suite 500
                  Seattle, WA 98101
                  Tel: (206) 223-9595
                  E-mail: feinstein2010@gmail.com

Scheduled Assets: $850,100

Scheduled Liabilities: $1,366,530

The Company's list of its two unsecured creditors filed with the
petition is available for free at:
http://bankrupt.com/misc/wawb12-21431.pdf

The petition was signed by John Parrish, managing member.


501 GRANT: Involuntary Chapter 11 Case Summary
----------------------------------------------
Alleged Debtor: 501 Grant Street Partners LLC
                22817 Ventura Blvd Ste 310
                Woodland Hills, CA 91364

Case Number: 12-20066

Involuntary Chapter 11 Petition Date: November 14, 2012

Court: Central District of California (San Fernando Valley)

Petitioners' Counsel: Malhar S Pagay, Esq.
                      PACHULSKI STANG ZIEHL & JONES LLP
                      10100 Santa Monica Blvd., 13th Flr.
                      Los Angeles, CA 90067
                      Tel: (310) 277-6910
                      Fax: (310) 201-0760
                      E-mail: mpagay@pszjlaw.com

501 Grant Street Partners LLC's petitioners:

  Petitioner               Nature of Claim        Claim Amount
  ----------               ---------------        ------------
Allied Barton Security   Security services      $960
Services LLC
200 Fleet St Ste 200
Pittsburgh, PA 15220

Cost Company LP          Masonry work           $5,900
2400 Ardmore Blvd        performed
Pittsburgh, PA 15221

MSA Systems              Unpaid Invoice         $2,401
Integration Inc.
1 Industrial Way
Eatontown, NJ 07724


AES EASTERN: Creditors Voting on 12% Liquidating Plan
-----------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
relates that AES Eastern Energy LP scheduled a Dec. 27
confirmation hearing for approval of a liquidating Chapter 11 plan
designed for a 12% recovery by creditors with $482 million in
unsecured claims.  The disclosure statement was approved Thursday
by the bankruptcy court in Delaware. The recovery is largely due
to a $47 million settlement negotiated this month with non-
bankrupt parent AES Corp.

According to the report, the creditors' committee undertook an
investigation regarding $1 billion in dividends the bankrupt
companies sent to the AES parent between 1998 and 2010.  The
company argued that dividends amounted to fraudulent transfers if
made when the companies were insolvent.  In return for a release
of claims against itself and its officers and directors, AES
agreed to pay $47 million when the plan becomes effective. The
payment represents most of the $57.5 million projected for
distribution to unsecured creditors.

The parent's stock closed Thursday at $9.72, down 6 cents in New
York Stock Exchange trading. The three-year closing high was
$14.13 on Jan. 19, 2010. The low for the period was $8.90 on
July 6, 2010.

                         About AES Eastern

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

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

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

The company was authorized in April to sell the two operating
facilities to secured creditors in exchange for debt.  Although
the court scheduled an auction, there were no competing bids.

A purchaser bought the other facilities for $2.25 million
plus assumption of environmental claims.


AFFINITY GROUP: Reports $3.3 Million Net Income in Third Quarter
----------------------------------------------------------------
Good Sam Enterprises, LLC, formerly known as Affinity Group, Inc.,
filed with the U.S. Securities and Exchange Commission its
quarterly report on Form 10-Q disclosing net income of $3.26
million on $139.61 million of revenue for the three months ended
Sept. 30, 2012, compared with net income of $1.97 million on
$128.60 million of revenue for the same period during the prior
year.

For the nine months ended Sept. 30, 2012, the Company reported net
income of $10.44 million on $396 million of revenue, compared with
net income of $4.57 million on $362.26 million of revenue for the
same period during the prior year.

The Company's balance sheet at Sept. 30, 2012, showed $245.37
million in total assets, $489.50 million in total liabilities and
a $244.12 million total member's deficit.

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

                        http://is.gd/ok43RQ

                       About Affinity Group

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

                           *     *     *

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

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

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


AGY HOLDING: Files Form 10-Q, Incurs $20.4-Mil. Net Loss in Q3
--------------------------------------------------------------
AGY Holding Corp. filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $20.42 million on $39.51 million of net sales for the three
months ended Sept. 30, 2012, compared with a net loss of $7.87
million on $46.60 million of net sales for the same period during
the prior year.

For the nine months ended Sept. 30, 2012, the Company reported a
net loss of $33.69 million on $133.11 million of net sales,
compared with a net loss of $21.10 million on $141.54 million of
net sales for the same period during the preceding year.

AGY Holding reported a net loss of $66.76 million in 2011, a net
loss of $14.57 million in 2010, and a net loss of $93.51 million
in 2009.

AGY Holding's balance sheet at Sept. 30, 2012, showed $216.42
million in total assets, $289.42 million in total liabilities and
a $73 million total shareholders' deficit.

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

                        http://is.gd/UVl21W

                         About AGY Holding

AGY Holding Corp. -- http://www.agy.com/-- produces fiberglass
yarns and high-strength fiberglass reinforcements used in
composites applications.  AGY serves a range of markets including
aerospace, defense, electronics, construction and industrial.
Headquartered in Aiken, South Carolina, AGY has a European office
in Lyon, France and manufacturing facilities in the U.S. in Aiken,
South Carolina and Huntingdon, Pennsylvania and a controlling
interest in a manufacturing facility in Shanghai, China.

                           *     *     *

As reported by the TCR on Nov. 23, 2011, Moody's Investors Service
lowered AGY Holding Corporation's (AGY) Corporate Family Rating
(CFR) to Caa2 from B3, reflecting the decline in the company's
liquidity and weak operating performance.

In the Dec. 5, 2011, edition of the TCR, Standard & Poor's Ratings
Services lowered its corporate credit rating on Aiken, S.C.-based
AGY Holding Corp. (AGY) to 'CCC-' from 'CCC+'.

"Our rating action reflects our view that AGY's credit quality has
deteriorated due to ongoing weakness in its operating performance,
a decline in liquidity, and the potential for insufficient
liquidity to meet interest payments in 2012.  As of Sept. 30,
2011, the company reported total liquidity of $17 million
including $16.2 million of availability under its unrated
revolving credit facility. AGY reported that it expected liquidity
to decline to levels of around $12.4 million in November following
the payment of nearly $10 million in semiannual interest on its
notes.  It also expects effective availability to be lower than
the reported figures, because the company is also subject to a
fixed-charge coverage ratio covenant if availability under its
revolving credit facility declines to below $6.25 million. We do
not expect to be in compliance if the covenant becomes applicable.
Current liquidity levels have declined from our expectations of a
minimum liquidity of $20 million at the previous rating. Key
credit risks, in our view, are liquidity insufficient to meet
requirements (including approximately $20 million in future
interest payments in 2012). An additional risk is potential
liquidity requirements possibly arising from the put option
available with the seller of AGY Hong Kong Ltd. for the remaining
30% of the company not yet purchased by AGY.  The put option can
be exercised through Dec. 31, 2013.  AGY reports a fair value of
about $0.23 million for the remaining 30% of the AGY Hong Kong
Ltd. as of Sept. 30, 2011 -- a decline from an initial estimated
value of about $12 million in 2009. AGY Hong Kong also has about
$10.5 million of debt, which the company reports it is trying to
extend, and approximately $11.5 million in annually renewable
working capital facilities due in 2012 (debt at AGY Hong Kong is
nonrecourse to AGY)," S&P said.


ALLIED DEFENSE: Has $43.3 Million Net Assets in Liquidation
-----------------------------------------------------------
The Allied Defense Group, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
$45.51 million in total assets, $2.18 million in total liabilities
and $43.32 million in net assets in liquidation.

As of Sept. 30, 2012, cash and cash equivalents increased from
Dec. 31, 2011, by approximately $7.2 million due to funds
transferred from short-term investments.  The Company expects to
reinvest a substantial portion of these funds in the fourth
quarter of 2012.

               Plan of Dissolution and Liquidation

On June 24, 2010, the Company signed a definitive purchase and
sale agreement with Chemring Group PLC pursuant to which Chemring
agreed to acquire substantially all of the assets of the Company
for $59,560 in cash and the assumption of certain liabilities.  On
Sept. 1, 2010, the Company completed the asset sale to Chemring
contemplated by the Agreement.  Pursuant to the Agreement,
Chemring acquired all of the capital stock of Mecar for
approximately $45,810 in cash, and separately Chemring acquired
substantially all of the assets of Mecar USA for $13,750 in cash
and the assumption by Chemring of certain specified liabilities of
Mecar USA.  A portion of the purchase price was paid through the
repayment of certain intercompany indebtedness owed to the Company
that would otherwise have been cancelled at closing.  $15,000 of
the proceeds of the sale was deposited into escrow to secure the
Company's indemnification obligations under the Agreement.

In conjunction with the Agreement, the Board of Directors of the
Company unanimously approved the dissolution of the Company
pursuant to a Plan of Complete Liquidation and Dissolution.  The
Company's stockholders approved the Plan of Dissolution on
Sept. 30, 2010.  In response to concerns of certain of the
Company's stockholders, the Company agreed to delay the filing of
a certificate of dissolution with the Delaware Secretary of State.
The Company filed a certificate of dissolution with the Delaware
Secretary of State on Aug. 31, 2011.  In connection with this
filing, the Company's stock transfer agent has ceased recording
transfers of the Company's stock and its stock is no longer
publicly traded.

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

                        http://is.gd/ncHmNC

                   About The Allied Defense Group

Vienna, Va.-based The Allied Defense Group, Inc. (OTCQB: ADGI)
-- http://www.allieddefensegroup.com/-- is a multinational
defense business focused on the manufacture and sale of ammunition
and ammunition related products for use by the U.S. and foreign
governments.  Allied's business is conducted by its two wholly
owned subsidiaries: Mecar S.A. and Mecar USA, Inc.  Mecar is
located in Nivelles, Belgium and Mecar USA is located in Marshall,
Texas.

The Company received a subpoena from the U.S. Department of
Justice on Jan. 19, 2010, requesting that the Company produce
documents relating to its dealings with foreign governments.  The
Company said it is unlikely that any distributions to stockholders
will be made until the matters relating to the DOJ subpoena have
been resolved.


ALLIED SECURITY: Moody's Rates First Lien Term Loan 'Ba3'
---------------------------------------------------------
Moody's Investors Service assigned a Ba3 rating to the $100
million incremental first lien term loan offered by Allied
Security Holdings LLC. Concurrently, Moody's affirmed all of the
company's existing ratings, including the B1 Corporate Family
Rating ("CFR"). The ratings outlook remains stable.

Proceeds from the incremental term loan, $15 million revolver
borrowings and $15 million balance sheet cash will be used to fund
a $125 million shareholder dividend. The company is seeking an
amendment to its existing credit facilities to allow the special
dividend and modify covenants to reflect the increased debt
levels, and reset call protection. All other material terms of the
first and second lien credit agreements are expected to remain the
same.

Affirmations:

   Issuer: Allied Security Holdings LLC

   Corporate Family Rating at B1

   Probability of Default Rating at B1

  $80 million first lien revolving credit facility due 2016 at Ba3
(LGD3, 37%)

  $420 million first lien term loan due 2017 at Ba3 (LGD3, 37%)

  $165 million second lien term loan due 2018 at B3 (LGD5, 89%)

Assignments:

  $100 million first lien term loan due 2017 at Ba3 (LGD3, 37%)

The ratings are contingent upon the receipt and review of final
documentation.

Ratings Rationale

The B1 Corporate Family Rating ("CFR") is constrained primarily by
a highly leveraged balance sheet and equity-friendly financial
policies evidenced by debt-financed distributions to the company's
private equity sponsor and other shareholders, and the company's
willingness to execute debt-financed acquisitions. The CFR also
reflects the company's operations in the intensely competitive and
fragmented US security services industry. Nevertheless, the rating
benefits from the recession-resistant nature of the security
services business, and Allied's leading position and good
liquidity profile, including stable cash flow generation in the
mid-to-high single digit range as a percentage of debt.

The stable outlook reflects Moody's expectation that financial
leverage will improve to the low 5 times debt/EBITDA range by the
end of 2013 due to modest organic revenue and earnings growth.

Negative ratings pressure could result from incremental debt or
deterioration in earnings that cause financial leverage to remain
above 5.5 times. Additionally, a negative rating action may be
taken if liquidity declines or if free cash flow to debt and
interest coverage (EBITDA less Capex to Interest expense) fall
below 4% and 1.7 times, respectively.

While an upgrade is unlikely in the near term, the ratings or
outlook could be raised if Allied reduces debt such that financial
leverage and free cash flow to debt can be sustained below 4 times
and above 10%, respectively. An upgrade likely would require a
commitment to more conservative long-term financial policies.

The principal methodology used in rating Allied Security Holdings
LLC was the Global Business & Consumer Service Industry Rating
Methodology published in October 2010. Other methodologies used
include Loss Given Default for Speculative-Grade Non-Financial
Companies in the U.S., Canada and EMEA published in June 2009.

Allied Security Holdings LLC is a leading provider of security
services in North America. The company is privately-owned by
affiliates of The Blackstone Group, institutional investors, and
management. Allied reported approximately $1.9 billion of revenue
for the twelve months ended September 30, 2012.


AMERICAN AIRLINES: Apologizes for Pilot Disruption
--------------------------------------------------
American Airlines will pay members of its frequent-flier program
double elite-qualifying miles and points for trips flown Nov. 1
through Dec. 31 to apologize for the massive flight disruptions
that coincided with a contract battle with pilots, Scott
McCartney of The Wall Street Journal reported on Nov. 5, 2012.

The report related that at American, customers were left stranded
and inconvenienced by widespread flight cancellations and lengthy
delays this fall due to pilots keeping flights on the ground with
numerous maintenance queries.  The operational problems, the
report noted, started shortly after the bankruptcy judge
overseeing American's Chapter 11 case canceled the contract
between the airline and its pilots' union, the Allied Pilots
Association.  Flights got back on schedule after the company
agreed to negotiate with the union, the Journal added.

                      About American Airlines

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

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

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

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

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

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

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

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


AMERICAN AIRLINES: PSAs to Vote on Union Representation
-------------------------------------------------------
American Airlines passenger service agents will vote on union
representation by the Communications Workers of American from
Dec. 4 to Jan. 15, The Dallas Morning News reported.

The National Mediation Board set the date two days after the U.S.
Court of Appeals for the Fifth Circuit upheld its earlier
decision that U.S. District Judge Terry Mears erred in blocking
the agents' union election from going forward.

American Airlines sued the National Mediation Board in May to
stop the union election by nearly 10,000 passenger service
agents.

The case is American Airlines Inc. v. National Mediation Board,
12-10680, U.S. Court of Appeals for the Fifth Circuit (New
Orleans).


AMERICAN ALLOY: Case Summary & 12 Unsecured Creditors
-----------------------------------------------------
Debtor: American Alloy Wire Corporation
        1 Wire Road
        P.O. Box 667
        Sandy Hook, CT 06482

Bankruptcy Case No.: 12-52037

Chapter 11 Petition Date: November 14, 2012

Court: United States Bankruptcy Court
       District of Connecticut (Bridgeport)

Judge: Alan H.W. Shiff

Debtor's Counsel: Carl T. Gulliver, Esq.
                  COAN LEWENDON GULLIVER & MILTENBERGER LLP
                  495 Orange Street
                  New Haven, CT 06511
                  Tel: (203) 624-4756
                  Fax: (203) 865-3673
                  E-mail: cgulliver@coanlewendon.com

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

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

A copy of the Company's list of its 12 unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ctb12-52037.pdf

The petition was signed by William J. McCarthy, president.


AMERICAN APPAREL: Incurs $19 Million Net Loss in Third Quarter
--------------------------------------------------------------
American Apparel, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss of $19.01 million on $162.16 million of net sales for the
three months ended Sept. 30, 2012, compared with a net loss of
$7.19 million on $140.88 million of net sales for the same period
during the preceding year.

The Company recorded a net loss of $42.17 million on $444.28
million of net sales for the nine months ended Sept. 30, 2012,
compared with a net loss of $28.15 million on $389.76 million of
net sales for the same period during the prior year.

The Company reported a net loss of $39.31 million in 2011 and a
net loss of $86.31 million in 2010.

The Company's balance sheet at Sept. 30, 2012, showed $333.64
million in total assets, $319.76 million in total liabilities and
$13.87 million in total stockholders' equity.

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

                        http://is.gd/KCSWnv

                      About American Apparel

Los Angeles, Calif.-based American Apparel, Inc. (NYSE Amex: APP)
-- http://www.americanapparel.com/-- is a vertically integrated
manufacturer, distributor, and retailer of branded fashion basic
apparel.  As of September 2010, American Apparel employed over
10,000 people and operated 278 retail stores in 20 countries,
including the United States, Canada, Mexico, Brazil, United
Kingdom, Ireland, Austria, Belgium, France, Germany, Italy, the
Netherlands, Spain, Sweden, Switzerland, Israel, Australia, Japan,
South Korea and China.

Amid liquidity problems and declining sales, American Apparel in
early 2011 reportedly tapped law firm Skadden, Arps, Slate,
Meagher & Flom and investment bank Rothschild Inc. for advice on a
restructuring.

In April 2011, American Apparel said it raised $14.9 million in
rescue financing from a group of investors led by Canadian
financier Michael Serruya and private equity firm Delavaco Capital
Corp., allowing the casual clothing retailer to meet obligations
to its lenders for the time being.  Under the deal, the investors
were buying 15.8 million shares of common stock at 90 cents
apiece.  The deal allows the investors to purchase additional
27.4 million shares at the same price.


AMERICAN SERVICE: A.M. Best Place 'B' FSR Under Review
------------------------------------------------------
A.M. Best Co. has placed under review with negative implications
the financial strength rating of B (Fair) and issuer credit
ratings (ICR) of "bb" of American Service Insurance Company Inc.
and American Country Insurance Company (both domiciled in Elk
Grove Village, IL), subsidiaries of Atlas Financial Holdings, Inc.
(Atlas) (Cayman Islands) [TSXV: AFH].  These companies operate
under an intercompany reinsurance pooling agreement and are
collectively referred to as American Service Pool.  A.M. Best also
has placed under review with negative implications the ICR of "b-"
and the debt rating of "ccc" on $18 million 4.5% preferred shares
of Atlas.

The rating actions follow disclosure of a definitive agreement
under which Atlas will acquire all of the issued and outstanding
shares of Camelot Services, Inc. (Missouri) and its wholly owned
subsidiary, Gateway Insurance Company (Gateway) (St. Louis, MO).
The negative implications reflect the inherent risk associated
with integrating Gateway's ongoing business into American Service
Pool's existing infrastructure, while overseeing the run off of
Gateway's non-core lines, and the increase in financial leverage
at Atlas as a result of funding the transaction, in part, with the
issuance of preferred stock.  These risks are somewhat mitigated
by Atlas' recent experience running off similar books of business
as well as Gateway's current owner fully reinsuring all of
Gateway's workers' compensation related risk and providing
additional adverse development protection as set out in the
definitive purchase agreement.

The ratings will remain under review until the close of the
transaction and the completion of A.M. Best's analysis of its
impact on the group's ratings.  The transaction is expected to
close in the first quarter of 2013, pending regulatory approval.


AMF BOWLING: Moody's Cuts CFR to 'Ca' on Bankruptcy Filing
----------------------------------------------------------
Moody's Investors Service lowered AMF Bowling Worldwide, Inc.'s
corporate family rating to Ca from Caa3 and the probability of
default rating to D from Caa3. The ratings were downgraded because
AMF and certain of its subsidiaries filed voluntary petitions for
reorganization under Chapter 11 in the U.S. Bankruptcy Court for
the Eastern District of Virginia, Richmond Division. As part of
this action, Moody's also downgraded the first lien bank debt to
Caa3from Caa2 and the second lien debt to C from Ca.

Ratings downgraded:

Corporate family rating to Ca from Caa3

Probability of default rating to D from Caa3

$19.5 million 1st lien revolving credit facility due November 2012
to Caa3 (LGD3, 30%) from Caa2 (LGD3, 31%)

$216 million 1st lien term loan due June 2013 to Caa3 (LGD3, 30%)
from Caa2 (LGD3, 31%)

$80 million 2nd lien term loan due December 2013 to C (LGD5, 78%)
from Ca (LGD5, 80%)

Ratings Rationale

Subsequent to the actions, Moody's will withdraw the ratings
because AMF has entered bankruptcy.

The principal methodology used in rating AMF Bowling Worldwide was
the Global Business & Consumer Service Industry Rating Methodology
published in October 2010. Other methodologies used include Loss
Given Default for Speculative-Grade Non-Financial Companies in the
U.S., Canada and EMEA published in June 2009.

Headquartered in Richmond, Virginia, AMF Bowling Worldwide, Inc.
is the largest operator of bowling centers in the world with
approximately 270 centers in operation, including eight centers
outside the United States.


AMPAL-AMERICAN: Bank Accelerates MAG Indebtedness
-------------------------------------------------
Ampal-American Israel Corporation disclosed that Merhav-Ampal
Group Ltd., an indirect wholly owned Israeli subsidiary of Ampal,
received a written notice from Israel Discount Bank accelerating
and setting to immediate repayment all outstanding indebtedness of
MAG to IDB pursuant to a Letter of Undertaking dated Dec. 3, 2007,
as was amended.  The proceeds of the Loan were used for the
acquisition of Gadot Chemical Tankers and Terminals Ltd.
("Gadot"), a wholly owned indirect subsidiary of Ampal.

IDB stated in its notice that it is reserving all its rights and
remedies to recover all amounts due under the Loan, including
foreclosing on Gadot shares owned by MAG, which have been pledged
to IDB as security for the Loan.

In light of IDB's notice, Ampal and MAG are currently evaluating
their options, including all possible legal remedies.

                       About Ampal-American

Ampal-American Israel Corporation and its subsidiaries --
http://www.ampal.com/-- acquired interests primarily in
businesses located in Israel or that are Israel-related.  Ampal is
seeking opportunistic situations in a variety of industries, with
a focus on energy, chemicals and related sectors.  Ampal's goal is
to develop or acquire majority interests in businesses that are
profitable and generate significant free cash flow that Ampal can
control.

Ampal-American filed a voluntary petition for Chapter 11
reorganization (Bankr. S.D.N.Y. Case No. 12-13689) on Aug. 29,
2012, to restructure the Company's Series A, Series B and Series C
debentures.  Bankruptcy Judge Stuart M. Bernstein presides over
the case.  Lawyers at Bryan Cave LLP, in New York, serve as
counsel to the Debtor.

As of June 30, 2012, the Company had US$542.3 million in total
assets and US$775.2 million in total liabilities.  The petition
was signed by Irit Eluz, chief financial officer, senior vice
president.


ANTERO RESOURCES: Moody's Rates New $300MM Sr. Unsec. Notes 'B2'
----------------------------------------------------------------
Moody's Investors Service assigned a B2 rating to Antero Resources
Finance Corporation's proposed $300 million senior unsecured notes
due 2020. Net proceeds from the notes offering will be used to
repay borrowings under its senior secured revolving credit
facility. The rating outlook is positive.

"Antero's repositioning of its asset portfolio into the liquids-
rich Marcellus and Utica Shale plays provide for proved developed
reserve, production and cash flow growth potential, while
identified non-core asset sales, an active commodity hedging
program and high operating control provide financial flexibility
and liquidity to support capital development plans," stated
Michael Somogyi, Moody's Vice President -- Senior Analyst.

In addition, Moody's corrects its database to reflect that the
issuer of the $525 million senior unsecured notes due 2017 and
$400 million senior unsecured notes due 2019 is Antero Resources
Finance Corporation. These debt instruments were initially rated
under Antero Resources LLC, the parent guarantor. The ratings of
the notes are not affected by this correction.

Issuer: Antero Resources Finance Corporation

  Assignments:

    US$300M Senior Unsecured Regular Bond/Debenture, Assigned B2

    US$300M Senior Unsecured Regular Bond/Debenture, Assigned a
    range of LGD4, 68 %

Issuer: Antero Resources Finance Corporation

  Upgrades:

    US$525M 9.375% Senior Unsecured Regular Bond/Debenture,
    Upgraded to a range of LGD4, 68 % from a range of LGD5, 75 %

    US$400M 7.25% Senior Unsecured Regular Bond/Debenture,
    Upgraded to a range of LGD4, 68 % from a range of LGD5, 75 %

Ratings Rationale

Antero's B1 CFR reflects its small ratio of proved developed (21%)
to total proved reserve base and natural gas weighted reserve mix.
The B1 CFR is supported by the size of the company's proved
reserves with anticipated capital spending beyond cash flows
supported by identified asset sales, high operating control and an
adequate liquidity profile to fund the development of its liquids-
rich Marcellus and Utica Shale asset portfolio.

Antero continues to narrow its operating focus by repositioning
its asset base into the liquids-rich Marcellus and Utica Shale
plays. The compnay closed the sale of its properties in the Arkoma
Basin in June 2012 for $425 million and announced the sale of its
assets in the Piceance Basin in November for $325 million.
Antero's remaining properties are now focused in the Utica,
Marcellus, and Upper Devonian Shale plays within the Appalachian
Basin. Pro forma these asset sales, Anteros's proved reserve base
of 632 million barrels of oil equivalent (MMboe) remains
comparable to Ba3 rated peers while its proved developed (PD)
reserve base of 133 MMboe is in line with B1 rated peers. Further,
Antero's transition to a pure Appalachian Basin play elevates its
liquids-focused production profile that, combined with its low
cost structure, should continue to support high returns on a
leveraged full cycle basis.

Moody's estimates Antero's pro-forma leverage on average daily
production and PD reserves, post this bond issuance and asset
sales, to be approximately $25,000/boe and $9.00/boe,
respectively. Moody's anticipates that increasing production
growth from the development of core Appalachian resources will
lower these leverage metrics by year-end 2013. An upgrade could
occur if average daily production exceeds 80,000 boe per day and
there is a meaningful transition to a more balanced liquids to gas
production profile and increased proved developed reserve profile.
A downgrade is possible if debt to average daily production
increases above $27,000 per boe or debt to PD reserves increases
above $10.50 per boe on a sustained basis.

The B2 rating on the proposed $300 million senior notes reflects
both the overall probability of default of Antero, to which
Moody's assigns a PDR of B1, and a loss given default of LGD 4
(68%). Post the notes offering and closing of the Piceance asset
sale, the company will have lender commitments of $700 million
under a revised borrowing base of $1.275 billion. Antero also has
$400 million of senior notes due 2019, $525 million of senior
notes due 2017, and $25 million of senior notes due 2013. Both the
new and existing senior notes are unsecured and therefore
subordinated to the senior secured credit facility's potential
priority claim to the company's assets. The size of the potential
senior secured claims relative to the unsecured notes outstanding
results in the senior notes being notched one rating below the B1
CFR under Moody's Loss Given Default Methodology.

The principal methodology used in rating Antero was the
Independent Exploration and Production (E&P) Industry Methodology
published in December 2011. Other methodologies used include Loss
Given Default for Speculative-Grade Non-Financial Companies in the
US, Canada, and EMEA published in June 2009.

Antero Resources, LLC is a private, independent exploration and
production company headquartered in Denver, Colorado.


BAKERS FOOTWEAR: Lands New Loan to Reorganize Around 63 Stores
--------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
relates that Bakers Footwear Group Inc. won court approval for
$9.5 million in replacement financing from Salus Capital Partners
LLC allowing the mall-based young women's shoe retailer to
continue operating a core of 63 stores.   The company began going-
out-of-business sales at 150 stores on Nov. 9.  Existing financing
required a decision by Nov. 16 on whether to reorganize around the
remaining 63 stores or liquidate them.

According to the Bloomberg report, with the replacement loan from
Salus, Bakers has the ability to reorganize the remaining stores
rather than liquidate.  Salus is replacing Crystal Financial LLC,
which received final court approval on Nov. 5 for a $22 million
loan. Salus will pay off Crystal.  A smaller loan is needed going
forward since so many stores are closing.

E.B. Solomont at St. Louis Business Journal reports that Bakers'
$9.5 million loan would allow the St. Louis-based retailer to
refinance its debt, and release claims against its existing
lender, Crystal Financial.  The report notes the new financing
from Salus would include a revolving loan of up to $8 million and
a term of loan of $1.5 million.  Bakers would pay 8% interest a
year on the revolving loan and 16% interest a year on the term
loan.

"Salus has given us a commitment for exit financing," Bakers
Chairman and CEO Peter Edison told the St. Louis Business Journal.
"Our goal is that we'd emerge from Chapter 11 as quickly as
possible," possibly by late January, he said.

                       About Bakers Footwear

Bakers Footwear Group Inc., a mall-based retailer of shoes for
young women, filed for bankruptcy protection (Bankr. E.D. Mo. Case
No. 12-49658) in St. Louis on Oct. 3, 2012, after announcing a
plan to close stores and reduce costs.

Bakers was founded in St. Louis in 1926 as Weiss-Kraemer, Inc.,
later renamed Weiss and Neuman Shoe Co., a regional chain of
footwear stores.  In 1997, Bakers was acquired principally by its
current chief executive officer, Peter Edison, who had previously
served in various senior management positions at Edison Brothers
Stores Inc.  In June 1999, Bakers purchased selected assets of the
"Bakers" and "Wild Pair" footwear retailing chains from the
bankruptcy estate of Edison Brothers.  The "Bakers" footwear
retailing chain was founded in 1924 and is the third-oldest soft
goods retail concept still in operation in the United States.

In February 2001, the Debtor changed its name to Bakers Footwear
Group, Inc.  In February 2004, Bakers conducted an initial public
offering of its common stock.  Bakers' common stock is quoted
under the ticker symbol "BKRS" on the, the OTC Markets Group's
quotation platform.

As of the Petition Date, Bakers operates roughly 215 stores
nationwide.

In November 2012, the U.S. Bankruptcy Court in St. Louis
authorized the company to hire a joint venture between SB Capital
Group LLC and Tiger Capital Group LLC as agents to conduct closing
sales for 150 stores.

Bankruptcy Judge Charles E. Rendlen III presides over the case.
Brian C. Walsh, Esq., David M. Unseth, Esq., and Laura Uberti
Hughes, Esq., at Bryan Cave LLP, serve as the Debtor's counsel.
Alliance Management serves as financial and restructuring
advisors.  Donlin, Recano & Company, Inc., serves as claims agent.
The petition was signed by Peter A. Edison, chief executive
officer and president.

The Company's balance sheet at April 28, 2012, showed $41.90
million in total assets, $59.49 million in total liabilities and a
$17.59 million total shareholders' deficit.

Counsel for Crystal Financial, the DIP Lender, are Donald E.
Rothman, Esq., at Riemer & Braunstein LLP; and Lisa Epps Dade,
Esq., at Spencer, Fane, Britt & Brown, LLP.

Bradford Sandler, Esq., at Pachulski Stang Ziehl & Jones LLP,
represents the Official Committee of Unsecured Creditors.


BANK OF THE CAROLINAS: Incurs $3.2 Million Net Loss in Q3
---------------------------------------------------------
Bank of the Carolinas Corporation filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q
disclosing a net loss available to common stockholders of $3.20
million on $4.30 million of total interest income for the three
months ended Sept. 30, 2012, compared with a net loss available to
common stockholders of $7.08 million on $5.11 million of total
interest income for the same period a year ago.

The Company reported a net loss available to common stockholders
of $6.08 million on $13 million of total interest income for the
nine months ended Sept. 30, 2012, compared with a net loss
available to common stockholders of $20.38 million on $15.87
million of total interest income for the same period during the
prior year.

The Company's balance sheet at Sept. 30, 2012, showed $448.27
million in total assets, $439.68 million in total liabilities and
$8.59 million in total stockholders' equity.

"The Company incurred significant net losses in 2010 and 2011,
which have continued in 2012, primarily from the higher provisions
for loan losses due to the significant level of nonperforming
assets and increases in foreclosed real estate.  The FDIC and the
Commissioner issued the Consent Order in April 2011.  The Company
entered into a written agreement with the FRB in August 2011.  The
Company's independent registered public accounting firm issued a
report with respect to the Company's audited financial statements
for the fiscal year ended December 31, 2011, which contained an
explanatory paragraph indicating that there is substantial doubt
about the Company's ability to continue as a going concern.  The
Company is attempting to implement the following strategies to
improve its financial condition."

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

                        http://is.gd/MeR5Cw

                    About Bank of the Carolinas

Mocksville, North Carolina-based Bank of the Carolinas Corporation
was formed in 2006 to serve as a holding company for Bank of the
Carolinas.  The Bank's primary market area is in the Piedmont
region of North Carolina.

As reported in the TCR on April 9, 2012, Turlington and Company,
LLP, in Lexington, North Carolina, expressed substantial doubt
about Bank of the Carolinas' ability to continue as a going
concern, following the Company's results for the fiscal year ended
Dec. 31, 2011.  The independent auditors noted that the Company
has suffered recurring credit losses that have eroded certain
regulatory capital ratios.  "As of Dec. 31, 2011, the Company is
considered undercapitalized based on their regulatory capital
level."


BEHRINGER HARVARD: Reports $14.8-Mil. Net Income in Third Quarter
-----------------------------------------------------------------
Behringer Harvard Short-Term Opportunity Fund I LP filed with the
U.S. Securities and Exchange Commission its quarterly report on
Form 10-Q disclosing net income of $14.82 million on $3.50 million
of total revenues for the three months ended Sept. 30, 2012,
compared with a net loss of $24.56 million on $5.56 million of
total revenues for the same period during the prior year.

The Company reported net income of $17.89 million on $11.06
million of total revenues for the nine months ended Sept. 30,
2012, compared with a net loss of $44.63 million on $13.75 million
of total revenues for the same period a year ago.

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

The Company's balance sheet at Sept. 30, 2012, showed $49.06
million in total assets, $52.94 million in total liabilities and a
$3.88 million total deficit.

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

                        http://is.gd/CGxRaK

                      About Behringer Harvard

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

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

                         Bankruptcy Warning

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


BENTLEY PARTNERS: Case Summary & 8 Unsecured Creditors
------------------------------------------------------
Debtor: Bentley Partners, LLC
        P.O. Box 390
        Chatham, MA 02633

Bankruptcy Case No.: 12-19057

Chapter 11 Petition Date: November 13, 2012

Court: U.S. Bankruptcy Court
       District of Massachusetts (Boston)

Judge: William C. Hillman

Debtor's Counsel: Thomas J. Raftery, Esq.
                  RAFTERY LAW OFFICES
                  P.O. Box 812
                  North Chatham, MA 02650-0812
                  Tel: (888) 472-0008
                  Fax: (888) 472-0008
                  E-mail: thomas@raftery.com

Scheduled Assets: $1,523,344

Scheduled Liabilities: $1,544,103

The Company's list of its eight unsecured creditors filed with the
petition is available for free at:
http://bankrupt.com/misc/mab12-19057.pdf

The petition was signed by James E. Gable, manager.


BERNARD L. MADOFF: Trustee's $245 Million Cohmad Suit Stays Alive
-----------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
relates that the trustee for Bernard L. Madoff Investment
Securities Inc. won an appeal keeping alive a $245 million lawsuit
against Cohmad Securities Corp., Maurice J. "Sonny" Cohn, and Mr.
Cohn's friends and family.  Cohmad was a feeder fund co-founded by
Bernie Madoff and Cohn.

According to the report, U.S. Bankruptcy Judge Burton Lifland
wrote a 35-page opinion in August 2011 refusing to dismiss the
suit.  Judge Lifland said the complaint made out facially good
claims for actual fraud and so-called constructive fraud.
Constructive fraud occurs if there is a transfer for less than
fair value when the company making the transfer is insolvent.

The report relates that Cohmad implored U.S. District Judge Thomas
P. Griesa to allow an appeal even though the lawsuit wasn't
completed.  Cohmad contended that Judge Lifland should have
required Madoff trustee Irving Picard to plead the elements of
constructive fraud with the same specificity required for claims
of actual fraud.

In his ruling on Nov. 14, Judge Griesa said federal courts in New
York don't require specificity on allegations of constructive
fraud.  As a result, there was no reason for allowing Cohmad to
appeal until the lawsuit is completed.  Cohmad not only lost a
chance at appealing, it also has a district judge now saying that
Lifland is applying the proper standard to the constructive fraud
claims.

In his 2011 opinion, Judge Lifland also declined to dismiss the
actual fraud claim, saying Mr. Picard had pleaded actual fraud
with sufficient particularity.

In late 2009, the Cohmad defendants lost a motion to have the suit
taken out of bankruptcy court.

The Cohmad suit in bankruptcy court is Picard v. Cohmad Securities
Corp. (In re Bernard L. Madoff Investment Securities LLC),
09-1305, U.S. Bankruptcy Court, Southern District of New York
(Manhattan).

                    About Bernard L. Madoff

Bernard L. Madoff Investment Securities LLC and Bernard L. Madoff
orchestrated the largest Ponzi scheme in history, with losses
topping US$50 billion.  On Dec. 15, 2008, the Honorable Louis A.
Stanton of the U.S. District Court for the Southern District of
New York granted the application of the Securities Investor
Protection Corporation for a decree adjudicating that the
customers of BLMIS are in need of the protection afforded by the
Securities Investor Protection Act of 1970.  The District Court's
Protective Order (i) appointed Irving H. Picard, Esq., as trustee
for the liquidation of BLMIS, (ii) appointed Baker & Hostetler LLP
as his counsel, and (iii) removed the SIPA Liquidation proceeding
to the Bankruptcy Court (Bankr. S.D.N.Y. Adv. Pro. No. 08-01789)
(Lifland, J.).  Mr. Picard has retained AlixPartners LLP as claims
agent.

On April 13, 2009, former BLMIS clients filed an involuntary
Chapter 7 bankruptcy petition against Bernard Madoff (Bankr.
S.D.N.Y. 09-11893).  The case is before Hon. Burton Lifland.  The
petitioning creditors -- Blumenthal & Associates Florida General
Partnership, Martin Rappaport Charitable Remainder Unitrust,
Martin Rappaport, Marc Cherno, and Steven Morganstern -- assert
US$64 million in claims against Mr. Madoff based on the balances
contained in the last statements they got from BLMIS.

On April 14, 2009, Grant Thornton UK LLP as receiver placed Madoff
Securities International Limited in London under bankruptcy
protection pursuant to Chapter 15 of the U.S. Bankruptcy Code
(Bankr. S.D. Fla. 09-16751).

The Chapter 15 case was later transferred to Manhattan.  In June
2009, Judge Lifland approved the consolidation of the Madoff SIPA
proceedings and the bankruptcy case.

Judge Denny Chin of the U.S. District Court for the Southern
District of New York on June 29, 2009, sentenced Mr. Madoff to
150 years of life imprisonment for defrauding investors in United
States v. Madoff, No. 09-CR-213 (S.D.N.Y.)

The SIPA Trustee has said that as of March 31, 2012, through
prepetition litigation and other settlements, he has successfully
recovered, or reached agreements to recover, more than $9 billion
-- over 50% of the principal lost in the Ponzi scheme by those who
filed claims -- for the benefit of all customers of BLMIS.
The liquidation has so far has cost the Securities Investor
Protection Corp. $1.3 billion, including $791 million to pay a
portion of customers' claims.

Mr. Picard has so far made only one distribution in October of
$325 million for 1,232 customer accounts.  Uncertainty created by
the appeals has limited Mr. Picard's ability to distribute
recovered funds.  Outstanding appeals include the $5 billion
Picower settlement and the $1.025 billion settlement.


BG MEDICINE: Incurs $6.8-Mil. Net Loss in Third Quarter
-------------------------------------------------------
BG Medicine, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $6.8 million on $641,000 of revenues for
the three months ended Sept. 30, 2012, compared with a net loss of
$4.9 million on $179,000 of revenues for the corresponding period
last year.

For the nine months ended Sept. 30, 2012, the Company incurred a
net loss of $20.9 million on $1.7 million of revenues, compared
with a net loss of $13.0 million on $1.3 million of revenues for
the corresponding period of 2011.

The Company's balance sheet at Sept. 30, 2012, showed
$20.1 million in total assets, $17.4 million in total liabilities,
and stockholders' equity of $2.7 million.

"During the nine months ended Sept. 30, 2012, we incurred net
losses totaling $20.9 million and used cash in operating
activities totaling $16.5 million.  We expect to continue to incur
losses and use cash in operating activities during the remainder
of 2012 and beyond.  We expect to use our existing cash to fund
operations, including our development and commercialization
activities for the automated versions of the BGM Galectin-3 test
and the potential commercialization of the CardioSCORE test.  We
believe that our existing cash and cash equivalents would be
sufficient to meet our anticipated cash requirements through the
third quarter of 2013.

"In February 2012, we entered into a $15.0 million loan facility
under which we immediately borrowed $10.0 million.  Under the loan
facility, we may borrow up to an additional $5.0 million provided
that we achieve at least $2.5 million in cumulative product
revenue, measured on a trailing six-month basis as of Jan. 31,
2013.

"If we are unable to make additional borrowings under our existing
loan facility, wewill be required to raise additional capital to
continue operations beyond the third quarter of 2013."

According to the regulatory filing, the above circumstances along
with the Company's history and near term forecast of incurring net
losses and negative operating cash flows raise substantial doubt
regarding its ability to continue as a going concern.

A copy of the Form 10-Q is available at http://is.gd/C8Bqh7

Waltham, Mass.-based BG Medicine, Inc., is a life sciences company
focused on the development and commercialization of novel
cardiovascular diagnostics to address significant unmet medical
needs, improve patient outcomes and contain healthcare costs.  The
Company's first commercialized product, the BGM Galectin-3 test
for use in patients with heart failure, received clearance from
the FDA in late 2010 and is commercially available in the United
States, as well as in Europe under a CE Mark.  The Company is also
developing the CardioSCORE test, a blood test designed as an aid
in the assessment of near-term risk for significant cardiovascular
events, such as heart attack and stroke.


BJ REALTY: Chapter 11 Case Summary & 5 Unsecured Creditors
----------------------------------------------------------
Debtor: BJ Realty, LLC
        P.O. Box 1039
        Crown Point, IN 46308

Bankruptcy Case No.: 12-24274

Chapter 11 Petition Date: November 14, 2012

Court: United States Bankruptcy Court
       Northern District of Indiana (Hammond Division)

Judge: J. Philip Klingeberger

Debtor's Counsel: Henry A. Efroymson, Esq.
                  ICE MILLER
                  One American Square, Ste 3100
                  Indianapolis, IN 46282-0200
                  Tel: (317) 236-2100
                  Fax: (317) 236-2219
                  E-mail: henry.efroymson@icemiller.com

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

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

A copy of the Company's list of its five unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/innb12-24274.pdf

The petition was signed by Jean Kress, member.


BLUE EARTH: Incurs $1.6-Mil. Net Loss in Third Quarter
------------------------------------------------------
Blue Earth, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $1.6 million on $1.7 million of revenues
for the three months ended Sept. 30, 2012, compared with a net
loss of $2.6 million on $1.1 million of revenues for the same
period of 2011.

For the nine months ended Sept. 30, 2012, the Company had a net
loss of $5.7 million on $5.4 million of revenues, compared
with a net loss of $4.2 million on $3.2 million of revenues for
the same period a year ago.

The Company's balance sheet at Sept. 30, 2012, showed
$13.1 million in total assets, $5.8 million in total liabilities,
and stockholders' equity of $7.3 million.

According to the regulatory filing, the Company has not yet
established an ongoing source of revenues sufficient to cover its
operating costs and allow it to continue as a going concern.  "The
ability of the Company to continue as a going concern is dependent
on the Company obtaining adequate capital to fund operating losses
until it becomes profitable.  If the Company is unable to obtain
adequate capital, it could be forced to cease operations."

At Sept. 30, 2012, the Company had a working capital deficit of
$1.5 million compared with a working capital deficit of
$3.5 million at Dec. 31, 2011.

A copy of the Form 10-Q is available at http://is.gd/G4R2py

Henderson, Nevada-based Blue Earth, Inc., is engaged in a mergers
and acquisition strategy in the clean-tech industry.  The
Company's primary focus is acquiring companies and innovative
technologies that serve the multi billion dollar energy efficiency
services and renewable energy market sectors.




BMB MUNAI: Lowers Net Loss to $1 Million in Fiscal 2012 Q2
----------------------------------------------------------
BMB Munai, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $1.03 million on $0 of revenue for the three months ended
Sept. 30, 2012, compared with a net loss of $142.86 million on $0
of revenue for the same period during the prior year.

For the six months ended Sept. 30, 2012, the Company reported a
net loss of $1.78 million on $0 of revenue, compared with a net
loss of $138.54 million on $0 of revenue for the same period a
year ago.

BMB Munai reported a net loss of $139.21 million for the year
ended March 31, 2012, compared with net income of $4.88 million
for the year ended March 31, 2011.

The Company's balance sheet at Sept. 30, 2012, showed $37.90
million in total assets, $18.30 million in total liabilities, all
current, and $19.59 million in total shareholders' equity.

                           Going Concern

On Feb. 14, 2011, the Company entered into a Participation
Interest Purchase Agreement with MIE Holdings Corporation (HKEx:
1555), and its subsidiary, Palaeontol B.V., a company organized
under the laws of the Netherlands, pursuant to which the Company
agreed to sell all of its interest in its wholly owned subsidiary
Emir Oil, LLP, to Palaeontol.  The initial purchase price is $170
million and was subject to various closing adjustments and the
deposit of $36 million in escrow to be held for a period of twelve
months following the closing for indemnification purposes.

On Sept. 19, 2011, the Company completed the sale of all of its
interests in Emir Oil to a subsidiary of MIE.

In accordance with the Purchase Agreement, the Company is
currently engaged in certain post-closing undertakings to assist
the MIE subsidiary with the acquisition of certain contracts,
leases and transfers of rights.

In connection with the closing of the Sale, on Sept. 21, 2011, the
Company completed its mandatory redemption of its $61.4 million in
principal amount of 10.75% Convertible Senior Notes due 2013,
pursuant to the Amended and Restated Indenture, dated as of
March 4, 2011, between the Company and The Bank of New York
Mellon, as trustee.

As a result of the Sale, the Company voluntary delisted its common
stock from the NYSE Amex, which became effective following the
close of business on Sept. 29, 2011.  The Company's common stock
is now quoted over-the-counter on the OTCQB, stock symbol "BMBM".

Since September 2011 the Company's principal business operations
have been focused on satisfying certain post-closing undertakings
to assist the MIE subsidiary with the acquisition of certain
contracts, leases and transfers of rights in accordance with the
Purchase Agreement and exploring opportunities to exploit the
expertise of Company management staff within the oil and gas
sector in the Republic of Kazakhstan.

"The Company's efforts to satisfy its obligations under the
Purchase Agreement do not generate revenue for the Company.  The
Company does not anticipate generating revenue until such time as
it is able to identify and exploit new business opportunities.  No
assurance can be given that the Company will be able to identify
or exploit any new business opportunity, or that it will have the
funds then available to it that will enable it to seek to take
advantage of any such opportunity.  These factors raise
substantial doubt about the Company's ability to continue as a
going concern."

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

                        http://is.gd/HDF6Hd

                          About BMB Munai

Based in Almaty, Kazakhstan, BMB Munai, Inc., is a Nevada
corporation that originally incorporated in the State of Utah in
1981.  Since 2003, its business activities have focused on oil and
natural gas exploration and production in the Republic of
Kazakhstan through its wholly-owned operating subsidiary Emir Oil
LLP.  Emir Oil holds an exploration contract that allows the
Company to conduct exploration drilling and oil production in the
Mangistau Province in the southwestern region of Kazakhstan until
January 2013.  The exploration territory of its contract area is
approximately 850 square kilometers and is comprised of three
areas, referred to herein as the ADE Block, the Southeast Block
and the Northwest Block.

Hansen, Barnett & Maxwell, P.C., in Salt Lake City, Utah, issued a
"going concern" qualification on the consolidated financial
statements for the fiscal year ended March 31, 2012.  The
independent auditors noted that the Company will have no
continuing operations that result in positive cash flow, which
raises substantial doubt about its ability to continue as a going
concern.


BOMBARDIER: Moody's Withdraws 'Ba2' Rating on New Notes
-------------------------------------------------------
Moody's Investors Service lowered Bombardier's speculative grade
liquidity rating to SGL-3 (adequate) from SGL-2 (good) as the
company has canceled its proposed $1 billion debt issue that was
intended to bolster its liquidity. The company's Ba2 corporate
family, probability of default and senior unsecured ratings are
unaffected. Bombardier's rating outlook remains negative. Moody's
has withdrawn the Ba2 rating on the cancelled debt issue.

Detailed Rating Considerations

Bombardier's Ba2 rating is driven by its significant scale and
diversity, strong global market positions, natural barriers to
entry and sizeable backlog levels in both its Aerospace and
Transportation business segments. Moody's expects Bombardier will
realize modest earnings growth and about $750 million in
consolidated free cash flow consumption in 2013 due to lingering
economic weakness affecting its Aerospace division, spending
associated with the company's sizeable aerospace programs, ongoing
margin pressure from recent problem contracts in its
Transportation segment and a continuing weak level of cash
advances from customers. Consequently, the company's adjusted
leverage is likely to remain very high (currently 6.2x) over the
12 to 18 month ratings horizon. Execution risks related to the
development of its new CSeries commercial aircraft are also
incorporated in the rating and these risks have increased with the
six month delay in the aircraft's first flight to June 2013.

Without benefit of the proposed notes issue, Bombardier's $2.1
billion in cash, $1.4 billion (USD equivalent) in total
availability under its revolvers and significant free cash flow
expected in Q4/12 will provide sufficient resources to fund the
cash consumption in 2013. The potential that Bombardier will need
to tap its bank facilities to maintain good headroom to minimum
liquidity covenants and fund typically heavy seasonal cash usage
in Q1 to Q3 causes Moody's to view Bombardier's liquidity as
adequate rather than good.

The outlook is negative because Bombardier has consumed more cash
than Moody's expected in the past couple of years. A continuation
of this trend would lead to a downgrade given that Bombardier's
leverage is very high for the rating.

Bombardier's rating could be downgraded if the CSeries is further
delayed or if Bombardier's leverage is not expected to reduce
below 6x through the ensuing 12-18 months with ongoing expected
improvement beyond that timeframe. Further deterioration in the
company's liquidity would also cause a downward rating action.

An upgrade would require evidence of a sustained cyclical upturn
in Aerospace, resolution of recent operational challenges in
Transportation, the successful entry into service of the CSeries,
with a growing order book and leverage sustained below 3.5x. As
well, the company would need to improve and sustain its liquidity
rating above SGL-3.

The principal methodology used in rating Bombardier was the Global
Aerospace and Defense Industry Methodology published in June 2010.
Other methodologies used include Loss Given Default for
Speculative-Grade Non-Financial Companies in the U.S., Canada and
EMEA published in June 2009.

Headquartered in Montreal, Quebec, Canada, Bombardier is a
globally diversified manufacturer of business and commercial jets
as well as rail transportation equipment. Annual revenues total
roughly $17 billion.


BROADVIEW NETWORKS: Emerges From Chapter 11 Bankruptcy Protection
-----------------------------------------------------------------
Broadview Networks has emerged from its short Chapter 11
bankruptcy, according to Kelly Teal at Channel Partners.

Channel Partners reports the Company said it did not sell any
assets, close any offices or impair service levels during the
brief restructuring, which began in late August.  It also said
suppliers and employees were paid in full.  Broadview said agents
were paid in full and on time during the reorganization.
Broadview executives had stated in June that the proceedings would
not hurt agents.

According to the report, Broadview did say it has reduced its
outstanding senior notes by 50%, from $300 million to $150
million, matching previous projections.  Those notes come due in
five years. Broadview further said on Wednesday its annual
interest expense has been cut by about $18 million -- that's
$1 million more than forecast three months ago.  The company also
said it has access to free cash flow that will be used in part for
working capital and "growth opportunities;" Broadview did not say
how much free cash flow is involved.  Next, Broadview said it has
an outstanding balance of $13.9 million on a $25 million credit
agreement.  Broadview also said it now has a new board of
directors, but did not name the members.

"We are a stronger company," the report quotes Michael K.
Robinson, president and CEO of Broadview Networks, as saying.
"The prompt approval of the plan validates all of the hard work
and cooperation of our employees, stakeholders, customers and
trading partners over the past several months."

                       About Broadview Networks

Rye Brook, N.Y.-based Broadview Networks Holdings, Inc., is a
communications and IT solutions provider to small and medium sized
business ("SMB") and large business, or enterprise, customers
nationwide, with a historical focus on markets across 10 states
throughout the Northeast and Mid-Atlantic United States, including
the major metropolitan markets of New York, Boston, Philadelphia,
Baltimore and Washington, D.C.

Broadview Networks and 27 affiliates on Aug. 22, 2012, sought
Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 12-13579)
with a plan that will eliminate half of the debt under the
Company's existing senior secured notes and lower interest expense
by roughly $17 million annually.

The Company's restructuring counsel is Willkie Farr & Gallagher
LLP and its financial advisor is Evercore Group, L.L.C.  Bingham
McCutchen LLP is the special regulatory counsel.  Kurtzman Carson
Consultants is the claims and notice agent.

The restructuring counsel for the ad hoc group of noteholders is
Dechert LLP and their financial advisor is FTI Consulting.

                           *     *      *

As reported by the TCR on Aug. 27, 2012, Moody's Investors Service
downgraded Broadview Networks Holdings, Inc.'s Probability of
Default Rating (PDR) to D from Ca following the company's
announcement that it had reached an agreement on a comprehensive
restructuring plan with the requisite senior secured note holders
and preferred stock holders and has filed a voluntary petition for
reorganization under Chapter 11 of the U.S. Bankruptcy Code.


C&C FOOD: Case Summary & 8 Unsecured Creditors
----------------------------------------------
Debtor: C&C Food Inc.
        aka Emma's Food & Meat Market
        P.O. Box 338
        Moca, PR 00676-0338

Bankruptcy Case No.: 12-09066

Chapter 11 Petition Date: November 13, 2012

Court: U.S. Bankruptcy Court
       District of Puerto Rico (Old San Juan)

Judge: Mildred Caban Flores

Debtor's Counsel: Homel Antonio Mercado Justiniano, Esq.
                  Calle Ramirez Silva #8
                  Ensanche Martinez
                  Mayaguez, PR 00680
                  Tel: (787) 831-2577
                  Fax: (787) 805-7350
                  E-mail: hmjlaw@yahoo.com

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

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

The Company's list of its eight unsecured creditors filed with the
petition is available for free at:
http://bankrupt.com/misc/prb12-09066.pdf

The petition was signed by Nabil Jose Caban Rodriguez, president.

Related entities that previously sought Chapter 11 protection:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Memphis Caban and Marili Quinones     12-8282             10/17/12


CAPITOL CITY: Posts $181,400 Net Income in Third Quarter
--------------------------------------------------------
Capitol City Bancshares, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
net income of $181,477 on $3.20 million of total interest income
for the three months ended Sept. 30, 2012, compared with a net
loss of $1.42 million on $3.65 million of total interest income
for the same period during the prior year.

The Company reported a net loss of $969,888 on $10.24 million of
total interest income for the nine months ended Sept. 30, 2012,
compared with a net loss of $1.17 million on $11.07 million of
total interest income for the same period a year ago.

The Company's balance sheet at Sept. 30, 2012, showed $294.80
million in total assets, $285.54 million in total liabilities and
$9.26 million in total stockholders' equity.

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

                        http://is.gd/5rfXHc

                         About Capitol City

Atlanta, Georgia-based Capitol City Bancshares, Inc., was
incorporated under the laws of the State of Georgia for the
purposes of serving as a bank holding company for Capitol City
Bank and Trust Company.  The Bank operates a full-service banking
business and engages in a broad range of commercial banking
activities, including accepting customary types of demand and
timed deposits, making individual, consumer, commercial, and
installment loans, money transfers, safe deposit services, and
making investments in U.S. government and municipal securities.

As reported in the TCR on April 17, 2012, Nichols, Cauley and
Associates, LLC, in Atlanta, Georgia, expressed substantial doubt
about Capital City Bancshares' ability to continue as a going
concern, following the Company's results for the year ended
Dec. 31, 2011.  The independent auditors noted that the Company is
operating under regulatory orders to, among other items, increase
capital and maintain certain levels of minimum capital.  "As of
Dec. 31, 2011, the Company was not in compliance with these
capital requirements.  In addition to its deteriorating capital
position, the Company has suffered significant losses related to
nonperforming assets, has experienced declining levels of liquid
assets, and has significant maturities of liabilities within the
next twelve months."

                      Required Capital Levels

In January 2010, the Bank received a consent order from the
Federal Deposit Insurance Corporation and the Georgia Department
of Banking and Finance.  The Order is a formal corrective action
pursuant to which the Bank has agreed to address specific issues,
through the adoption and implementation of procedures, plan and
policies designed to enhance the safety and soundness of the Bank.

According to the regulatory filing, the Bank has not achieved the
required capital levels mandated by the Order.

"The continuing level of problem loans as of the quarter ended
June 30, 2012, and capital levels continuing to be in the "under
capitalized" category of the regulatory framework for prompt
corrective action as of June 30, 2012, continue to create
substantial doubt about the Company's ability to continue as a
going concern.  There can be no assurance that any capital raising
activities or other measures will allow the Bank to meet the
capital levels required in the Order.  Non-compliance with the
capital requirements of the Order and other provisions of the
Order may cause the Bank to be subject to further enforcement
actions by the FDIC or the Department."


CCH II: Moody's Affirms 'Ba3' CFR; Outlook Remains Positive
-----------------------------------------------------------
Moody's Investors Service affirmed the Ba3 corporate family rating
of CCH II, LLC (an indirect intermediate holding company of
Charter Communications, Inc., or Charter). The outlook remains
positive. Moody's believes the new management's operating strategy
will pressure Charter's EBITDA margin and free cash flow over the
next year, but ultimately will boost the cash flow generating
capacity of the company's footprint and therefore improve
Charter's credit profile.

CCH II, LLC

    Affirmed Ba3 Corporate Family Rating

    Affirmed Ba3 Probability of Default Rating

    Affirmed SGL-2 Speculative Grade Liquidity Rating

Outlook, Positive

Ratings Rationale

Moody's expects Charter's initiatives to enhance its product set,
especially the video offering, and to implement changes to its
selling strategy and organizational structure will keep operating
and capital expenditures elevated, pressuring both EBITDA and free
cash flow over the next several quarters. This strategy will
therefore delay improvement in credit metrics, with leverage
lingering in the high 4 times range, a metric that has not changed
meaningfully since 2010. However, Moody's continues to believe
management has the ability and willingness to achieve a credit
profile consistent with a Ba2 corporate family rating, including
leverage under 4.5 times debt-to-EBITDA, by late 2013 or early
2014. Greater penetration of all products and continued expansion
of the commercial business should yield more EBITDA, and Moody's
expects capital intensity to moderate, albeit at a level higher
than peers. Combined with lower interest expense, these factors
will likely increase free cash flow, facilitating lower leverage
through both EBITDA growth and debt reduction.

Charter's Ba3 corporate family rating reflects its moderately high
financial risk, with leverage of just under 5 times debt-to-EBITDA
(pro forma for redemption of the CCH II notes). This leverage
poses risk considering the pressure on revenue from its
increasingly mature core video offering (which represents about
half of total revenue) and the intensely competitive environment
in which it operates. The company's substantial scale and Moody's
expectations for operational improvements and growth in high speed
data and commercial phone customers, along with the meaningful
perceived asset value associated with its sizeable (over 5
million) customer base, support the rating, as does the company's
good liquidity.

The positive outlook reflects Charter's steadily improving credit
profile and Moody's expectations that the enhanced financial
flexibility will afford the company greater opportunity to invest
without raising incremental debt, which should increase asset
value and facilitate further balance sheet strengthening over
time.

Moody's would consider an upgrade with continued improvements in
both financial and operating metrics and a commitment to a better
credit profile. Specifically, Moody's could upgrade the CFR based
on expectations for sustained leverage below 4.5 times debt-to-
EBITDA and free cash flow-to-debt in excess of 5%, along with
maintenance of good liquidity. A higher rating would require
clarity on fiscal policy, as well as product penetration levels
more in line with industry averages and growth in revenue and
EBITDA per homes passed.

Given the positive outlook, limited downward ratings pressure
exists over the near term. However, Moody's would likely downgrade
ratings if ongoing basic subscriber losses, declining penetration
rates, and/or a reversion to more aggressive financial policies
contributed to expectations for leverage above 6 times debt-to-
EBITDA and / or low single digit or worse free cash flow-to-debt.

The principal methodology used in rating Charter Communications,
Inc. was the Global Cable Television Industry Methodology
published in July 2009. Other methodologies used include Loss
Given Default for Speculative-Grade Non-Financial Companies in the
U.S., Canada and EMEA published in June 2009.

One of the largest domestic cable multiple system operators
serving approximately 4 million residential video customers (5.3
million customers in total), Charter Communications, Inc.,
maintains its headquarters in Stamford, Connecticut. Its annual
revenue is approximately $7.4 billion.


CENTRAL EUROPEAN: Investor Concerned Over Company's Condition
-------------------------------------------------------------
Mark Kaufman and W&L Enterprises Ltd, owning approximately 9.5% of
Central European Distribution Corporation's outstanding common
stock, sent a letter to the members of the Board of Directors of
the CEDC.  According to Mr. Kaufman, he shared Roustam Tariko's
profound concern and deep frustration regarding the financial and
operating condition of CEDC.  Mr. Tariko is the beneficial owner
of approximately 19.5% of CEDC's outstanding common stock.

"Over the past year, CEDC has suffered a number of stunning and
inexcusable setbacks, including (1) having to restate financial
statements because of accounting errors, (2) failing to establish
any semblance of long-term leadership following the resignation of
its Chairman, Chief Executive Officer and President, (3) missing
two consecutive filing deadlines for its Form 10-Qs, (4) violating
a NASDAQ listing rule, (5) undergoing the suspension of trading of
its shares on the Warsaw Stock Exchange, (6) disclosing
potentially serious FCPA violations, and (7) failing to solve a
liquidity crisis that may result in a default under the Company's
indebtedness," Mr. Kaufman wrote.

"...[A]s CEDC continues to lurch from crisis to crisis under your
leadership (or lack thereof), I ... urge you in the strongest
terms to adopt a new attitude towards stewardship of the company,
to make an immediate change in the composition of CEDC's board,
and to engage directly with CEDC's major stockholders," stated Mr.
Kaufman.

A copy of the letter is available at http://is.gd/0dajK4

                             About CEDC

Mt. Laurel, New Jersey-based Central European Distribution
Corporation is one of the world's largest vodka producers and
Central and Eastern Europe's largest integrated spirit beverages
business with its primary operations in Poland, Russia and
Hungary.

Ernst & Young Audit sp. z o.o., in Warsaw, Poland, expressed
substantial doubt about Central European's ability to continue as
a going concern, following the Company's results for the fiscal
year ended Dec. 31, 2011.  The independent auditors noted that
certain of the Company's credit and factoring facilities are
coming due in 2012 and will need to be renewed to manage its
working capital needs.

The Company's balance sheet at June 30, 2012, showed $1.86 billion
in total assets, $1.68 billion in total liabilities, $29.55
million in temporary equity, and $158.10 million in total
stockholders' equity.

                             Liquidity

Certain credit and factoring facilities are coming due in 2012,
which the Company expects to renew.  Furthermore, the Company's
Convertible Senior Notes are due on March 15, 2013.  The Company's
current cash on hand, estimated cash from operations and available
credit facilities will not be sufficient to make the repayment of
principal on the Convertible Notes and, unless the transaction
with Russian Standard Corporation is completed the Company may
default on them.  The Company's cash flow forecasts include the
assumption that certain credit and factoring facilities that are
coming due in 2012 will be renewed to manage working capital
needs.  Moreover, the Company had a net loss and significant
impairment charges in 2011 and current liabilities exceed current
assets at June 30, 2012.  These conditions raise substantial doubt
about the Company's ability to continue as a going concern.

The transaction with Russian Standard Corporation is subject to
certain risks, including shareholder approval which may not be
obtained.  The Company's 2012 Annual Meeting of Stockholders,
which was postponed due to the need to restate the Company's
financial statements, is expected to be held as soon as
practicable.  The Company believes that if the transaction is
completed as scheduled, the Convertible Notes will be repaid by
their maturity date, which would substantially reduce doubts about
the Company's ability to continue as a going concern.

                           *     *     *

As reported by the TCR on Aug. 10, 2012, Standard & Poor's Ratings
Services kept on CreditWatch with negative implications its 'CCC+'
long-term corporate credit rating on U.S.-based Central European
Distribution Corp. (CEDC), the parent company of Poland-based
vodka manufacturer CEDC International sp. z o.o.

"The CreditWatch status reflects our view that uncertainties
remain related to CEDC's ongoing accounting review and that
CEDC's liquidity could further and substantially weaken if there
was a breach of covenants which could lead to the acceleration of
the payment of the 2016 notes, upon receipt of a written notice
of 25% or more of the noteholders," S&P said.

In the Oct. 9, 2012, edition of the TCR, Moody's Investors Service
has downgraded the corporate family rating (CFR) and probability
of default rating (PDR) of Central European Distribution
Corporation (CEDC) to Caa2 from Caa1.

"The downgrade reflects delays in CEDC securing adequate
financing to repay its US$310 million of convertible notes due
March 2013 which are increasing Moody's concerns that the
definitive agreement for a strategic alliance between CEDC and
Russian Standard Corporation (Russian Standard) might not
conclude at the current terms," says Paolo Leschiutta, a Moody's
Vice President - Senior Credit Officer and lead analyst for CEDC.


CENTRAL FALLS, RI: S&P Ups Rating on General Obligation Debt to BB
------------------------------------------------------------------
Standard & Poor's Ratings Services raised its rating on Central
Falls, R.I.'s general obligation (GO) debt to 'BB' from 'C'. The
outlook is stable.

"The upgrade reflects active state oversight of the city's
financial operations," said Standard & Poor's credit analyst
Victor Medeiros, "and an approved six-year operating plan that
maintains structural balance after the city emerged from Chapter 9
bankruptcy without defaulting on its long-term GO debt."

"In our opinion, while the city filed for Chapter 9, the active
state oversight and a requirement for city management to file
quarterly and annual attestations to the state partially mitigates
concern over the city's future willingness to pay debt service.
Post-bankruptcy there remain strong controls and fiscal oversight.
There will be quarterly and annual attestations filed by local
officials attesting that they remain in conformity with the
adopted plan. We believe these controls enable management to make
timely budget adjustments if financial performance deviates from
projections. Moreover, in 2011, the state implemented statutes
that provided a statutory lien on property taxes in favor of
bondholders," S&P said.

"The state of Rhode Island will oversee the transition to local
control over the next year. We believe it will remain active
through the term of the plan however. For five years after the
exit of the state receiver, state oversight will continue through
an administration and finance officer selected by the mayor from a
list of municipal professionals provided by the Division of
Municipal Finance of the Department of Revenue, and through the
quarterly budget reporting. The administration and finance officer
will be responsible for the overall budgetary and financial
administration of the city," S&P said.

"We believe this position will continue the progress initiated by
the state receiver, and further reinforces our opinion that the
city will adhere to the financial plan through its term," added
Mr. Medeiros.

In S&P's opinion, factors that strengthen the rating include:

-- Active state oversight of the city's financial operations,

-- An approved six-year operating plan that maintains structural
    balance;

-- The requirement of the city's management to file quarterly and
    annual attestations; and

-- A manageable debt burden.

These strengths are offset, in S&P's view, by:

-- Very weak economic fundamentals;

-- A still-thin financial position and limited operating
    flexibility projected through the entirety of the plan; and

-- Still-large unfunded pension liabilities, despite recent
    reductions, and sizable fixed charges.

The city's full faith and credit is pledged to the bonds.

Central Falls, with a population of 18,928, is the smallest city
by size in Rhode Island, covering just 1.21 square miles of land,
and is six miles north of Providence.

"The stable outlook reflects Standard & Poor's expectation that
the city will likely maintain structural balance despite a weak
economic profile due to stronger financial management controls. We
do not expect to revise the rating in the next two years given the
city's current financial position, and weak credit fundamentals,"
S&P said.

"Over time, positive rating movement into investment grade could
be triggered by factors such as continued adherence to the six-
year financial plan on transition to local control and further
strengthening of financial reserves. Factors that could lower the
rating include deviation from the six-year plan, resulting in a
weaker financial position," S&P said.


CENTRAL FEDERAL: Incurs $1.9 Million Net Loss in Third Quarter
--------------------------------------------------------------
Central Federal Corporation filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $1.91 million on $1.76 million of interest and
dividend income for the three months ended Sept. 30, 2012,
compared with a net loss of $435,000 on $2.29 million of interest
and dividend income for the same period during the prior year.

For the nine months ended Sept. 30, 2012, the Company reported a
net loss of $3.33 million on $5.66 million of total interest and
dividend income, compared with a net loss of $4.06 million on
$7.50 million of interest and dividend income for the same period
a year ago.

As a result of the Company's redemption at a discount of its TARP
obligations from the U.S. Department of the Treasury on Sept. 26,
2012, the Company's earnings available to common stockholders
increased by $5 million, which resulted in $.38 and $.42 earnings
per diluted common share, respectively, despite the net loss for
the quarter and nine months ended Sept. 30, 2012.

Central Federal reported a net loss of $5.42 million in 2011, a
net loss of $6.87 million in 2010, and a net loss of $9.89 million
in 2009.

The Company's balance sheet at Sept. 30, 2012, showed $222.13
million in total assets, $197.76 million in total liabilities and
$24.36 million in total stockholders' equity.

Tim O'Dell, CEO, commented, "Since our new management team was
inserted on August 21, we have been totally focused on continuing
to clean up the bank's legacy problems while positioning the bank
for future profitability.  While there will still be some issues
to work through in the legacy loan portfolio, we continue to
believe that we have a solid foundation, and that we will have a
strongly capitalized, growing and increasingly profitable bank as
our plans are fully implemented."

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

                        http://is.gd/we6Qa5

                       About Central Federal

Fairlawn, Ohio-based Central Federal Corporation (Nasdaq: CFBK) is
the holding company for CFBank, a federally chartered savings
association formed in Ohio in 1892.  CFBank has four full-service
banking offices in Fairlawn, Calcutta, Wellsville and Worthington,
Ohio.

In the auditors' report accompanying the consolidated financial
statements for the year ended Dec. 31, 2011, Crowe Horwath LLP, in
Cleveland, Ohio, expressed substantial doubt about the Company's
ability to continue as a going concern.  The Company's auditors
noted that the Holding Company and its wholly owned subsidiary
(CFBank) are operating under regulatory orders that require among
other items, higher levels of regulatory capital at CFBank.  The
Company has suffered significant recurring net losses, primarily
from higher provisions for loan losses and expenses associated
with the administration and disposition of nonperforming assets at
CFBank.  These losses have adversely impacted capital at CFBank
and liquidity at the Holding Company.  At Dec. 31, 2011,
regulatory capital at CFBank was below the amount specified in the
regulatory order.  Failure to raise capital to the amount
specified in the regulatory order and otherwise comply with the
regulatory orders may result in additional enforcement actions or
receivership of CFBank.

                        Regulatory Matters

On May 25, 2011, Central Federal Corporation and CFBank each
consented to the issuance of an Order to Cease and Desist (the
Holding Company Order and the CFBank Order, respectively, and
collectively, the Orders) by the Office of Thrift Supervision
(OTS), the primary regulator of the Holding Company and CFBank at
the time the Orders were issued.

The Holding Company Order required it, among other things, to: (i)
submit by June 30, 2011, a capital plan to regulators that
establishes a minimum tangible capital ratio commensurate with the
Holding Company's consolidated risk profile, reduces the risk from
current debt levels and addresses the Holding Company's cash flow
needs; (ii) not pay cash dividends, redeem stock or make any other
capital distributions without prior regulatory approval; (iii) not
pay interest or principal on any debt or increase any Holding
Company debt or guarantee the debt of any entity without prior
regulatory approval; (iv) obtain prior regulatory approval for
changes in directors and senior executive officers; and (v) not
enter into any new contractual arrangement related to compensation
or benefits with any director or senior executive officer without
prior notification to regulators.

The CFBank Order required CFBank to have by Sept. 30, 2011, and
maintain thereafter, 8% Tier 1 (Core) Capital to adjusted total
assets and 12% Total Capital to risk weighted assets.  CFBank will
not be considered well-capitalized as long as it is subject to
individual minimum capital requirements.

CFBank did not comply with the higher capital ratio requirements
by the Sept. 30, 2011, required date.


CHANDNI LLC: Case Summary & 9 Unsecured Creditors
-------------------------------------------------
Debtor: Chandni, LLC
        1102 S Main St.
        Corona, CA 92882

Bankruptcy Case No.: 12-21050

Chapter 11 Petition Date: November 14, 2012

Court: United States Bankruptcy Court
       Western District of Louisiana (Lake Charles)

Judge: Robert Summerhays

Debtor's Counsel: Wade N. Kelly, Esq.
                  ROBICHAUX, MIZE, WADSACK & RICHARDSON, LLC
                  1777 Ryan Street
                  P.O. Box 2065
                  Lake Charles, LA 70601
                  Tel: (337) 433-0234
                  Fax: (337) 433-1274
                  E-mail: wnkellylaw@yahoo.com

Scheduled Assets: $1,525,526

Scheduled Liabilities: $3,792,687

A copy of the Company's list of its nine unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/lawb12-21050.pdf

The petition was signed by Kaushik Patel, managing member.


CHINA PRECISION: Delays Form 10-Q for Sept. 30 Quarter
------------------------------------------------------
China Precision Steel, Inc., was not, without unreasonable effort
or expense, able to file its quarterly report on Form 10-Q for the
period ended Sept. 30, 2012, by Nov. 14, 2012.  The Company
anticipates that it will file its Form 10-Q within the "grace"
period provided by Securities Exchange Act Rule 12b-25.

                        About China Precision

China Precision Steel Inc. is a niche precision steel processing
company principally engaged in the production and sale of high
precision cold-rolled steel products and provides value added
services such as heat treatment and cutting medium and high carbon
hot-rolled steel strips.  China Precision Steel's high precision,
ultra-thin, high strength (7.5 mm to 0.05 mm) cold-rolled steel
products are mainly used in the production of automotive
components, food packaging materials, saw blades and textile
needles.  The Company primarily sells to manufacturers in the
People's Republic of China as well as overseas markets such as
Nigeria, Thailand, Indonesia and the Philippines. China Precision
Steel was incorporated in 2002 and is headquartered in Sheung Wan,
Hong Kong.

China Precision reported a net loss of $16.94 million for the year
ended June 30, 2012, compared with net income of $256,950 during
the prior fiscal year.

The Company's balance sheet at June 30, 2012, showed $185.54
million in total assets, $66.67 million in total liabilities, all
current, and $118.87 million in total stockholders' equity.

Moore Stephens, in Hong Kong, issued a "going concern"
qualification on the consolidated financial statement for the year
ended June 30, 2012.  The independent auditors noted that the
Company has suffered a very significant loss in the year ended
June 30, 2012, and defaulted on interest and principal repayments
of bank borrowings that raise substantial doubt about its ability
to continue as a going concern.


COMMUNITY FINANCIAL: Offering $24MM of Preferred & Common Shares
----------------------------------------------------------------
Community Financial Shares, Inc., has entered into a securities
purchase agreement with certain accredited investors and members
of the Company's Board of Directors and executive management team
whereby the Company will initially issue an aggregate of $24
million of convertible preferred stock and common stock.  The
preferred stock will be convertible into shares of common stock at
a conversion price of $1.00 per share, and the common stock will
be sold at a per share price of $1.00.

Following the completion of the Initial Offering, the Company will
conduct a rights offering to permit the Company's current
stockholders to participate in the transaction at the same price
as the new investors.  The rights offering will offer current
stockholders the opportunity to purchase up to $3 million of
common stock at a price of $1.00 per share.  Following the rights
offering, certain of the Initial Offering's investors will have
the option of purchasing a maximum of approximately $2.4 million
worth of additional shares of preferred stock in order to preserve
their percentage ownership interest in the Company's outstanding
shares as of the Initial Offering.

"We are pleased to be able to announce this capital raise and the
confidence it demonstrates in our community and our organization
by the investors participating in the offering," said Scott W.
Hamer, the president and chief executive officer of the Company.
"This capital raise represents an important step forward, further
strengthening our capacity to serve the needs of individuals and
businesses in our markets."

The proceeds of the Initial Offering will be used to redeem the
Company's outstanding $6.9 million of preferred stock previously
issued to the U.S. Department of Treasury pursuant to the TARP
Capital Purchase Program.  The Company has entered into an
agreement with the Treasury Department pursuant to which, subject
to the completion of the Initial Offering and the receipt of
Federal Reserve Board approval, the Company will repurchase the
TARP Securities for approximately 45% of the their total par
value, and any accrued and unpaid dividends thereon.  Proceeds
from the Initial Offering will also be used (i) to repay the
Company's indebtedness to a third party lender, (ii) to enhance
the Bank's capital to levels that satisfy the requirements of its
consent order with the FDIC and the Illinois Department of
Financial and Professional Regulation, and to (iii) support the
future operational growth of the Company.

"This private placement, when completed, will not only permit us
to satisfy the capital requirements of our regulatory order, but
will provide the Company and the Bank with capital to take
advantage of growth opportunities within our market area and
contiguous markets," said Scott W. Hamer, president and chief
executive officer.  As part of the private placement, three of the
investors participating in the Initial Offering will each appoint
a representative to serve on the Board of Directors.  In addition,
Donald H. Fischer has informed the Company that he will retire as
the Chairman of the Company's Board of Directors effective as of
the closing of the Initial Offering.  Subject to regulatory
approval, Mr. Fischer's successor will be Donald H. Wilson.  Mr.
Wilson is currently the Chairman and Chief Executive Officer of
Stone Pillar Advisors, Ltd., a financial services strategic
consulting firm, and has more than 25 years of experience in the
banking industry.  Mr. Wilson began his career at the Federal
Reserve Bank of Chicago, serving in the bank examination and
economic research divisions, and has subsequently held numerous
executive management positions at several large financial
institutions and financial services companies.

"Our Board of Directors is fully supportive of the transaction and
strongly believes that this transaction is in the best interest of
our stockholders and customers," said Mr. Fischer.  "We are also
pleased to be able to offer our current stockholders the
opportunity to participate in the Company's capital raise through
the rights offering at the same per share price that our new
investors are paying for their interest in the Company.  We are
also pleased to strengthen our Board with the energy, experience
and vision that Mr. Wilson and the three additional investor Board
appointees will bring to the Company. Our Board and management
team will work tirelessly with our advisors to bring this
recapitalization effort to a conclusion."

Terms of the Private Placement Offering

Pursuant to the terms of the securities purchase agreement, the
Company will issue 4,315,300 shares of common stock, 133,411
shares of newly-created Series C preferred stock, 56,708 shares of
newly-created Series D preferred stock and 6,728 shares of newly-
created Series E preferred stock to investors in the Initial
Offering.  The shares of common stock will be sold at a price of
$1.00 per share and the shares of Series C preferred stock, Series
D preferred stock and Series E preferred stock will each be sold
at a price of $100.00 per share.  Each share of Series C preferred
stock will be convertible, at the sole discretion of the holder of
such shares, into 100 shares of Company common stock (based on a
conversion price of $1.00 per share) and will be entitled to vote
on an as-converted basis on any matter presented to the Company's
common stockholders.

The Series D preferred stock and Series E preferred stock will not
have voting rights and will be convertible, at the sole discretion
of the holder of those shares, into shares of Series C preferred
stock, provided that no such conversion results in an investor
holding more than a 9.99% or 4.99% voting ownership interest,
respectively, in the Company, excluding for the purposes of this
calculation any reduction in ownership resulting from transfers by
such person of voting securities of the Company.  The holders of
the Series C preferred stock, Series D preferred stock and Series
E preferred stock will be entitled to a liquidation preference
equal to the purchase price of the shares in the event of any
liquidation, dissolution or change in control of the Company.

An affiliate of Clinton Group, Inc., and certain institutional
investors advised by the same investment advisor will serve as
lead purchasers in connection with the Initial Offering.  Clinton
will invest approximately $6.3 million and the Lead Institutional
Purchasers will collectively invest approximately $2.5 million in
the Initial Offering.  Following the consummation of the Initial
Offering, Clinton will hold a 9.9% voting interest in the Company,
the Lead Institutional Purchasers will collectively hold a 9.9%
voting interest in the Company, and one additional non-lead
purchaser, Fullerton Capital Partners, LP, will hold a 9.9% voting
interest in the Company.  Each of these purchasers will have the
option to purchase additional shares of preferred stock so that
they may retain those voting ownership interests after the
completion of the Rights Offering.

Upon consummation of the Initial Offering, the size of the
Company's and Bank's Board of Directors will be fixed at nine
members and, subject to the receipt of all required regulatory
approvals, three of the investors participating in the offering
will each appoint a representative to serve on the Board of
Directors, and Donald H. Wilson will be appointed as Chairman of
the Board.

The consummation of the private placement offering is subject to
certain closing conditions set forth in the securities purchase
agreement, including, but not limited to, the receipt of required
regulatory and stockholder approvals.  The Company currently
anticipates that the transaction will be consummated in the fourth
quarter of 2012.

FIG Partners LLC served as placement agent to the Company in
connection with the private placement offering.

                         Bylaws Amendment

On Nov. 13, 2012, the Company's Board of Directors amended the
Company's Bylaws to: (i) eliminate Article II, Section 13 of the
Bylaws, which provided that any action taken by stockholders of
the Company without a meeting required the written consent of all
of the stockholders entitled to vote with respect to the subject
matter; (ii) amend Article III, Section 2 of the Bylaws to fix the
size of the Company's Board of Directors at 10 members; and (iii)
effect certain clarifying amendments to the Bylaws to reflect the
existence of multiple classes of Company voting securities in
connection with the proposed issuance of the Series C Preferred
Stock.

                     About Community Financial

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

BKD, LLP, in Indianapolis, Indiana, issued a going concern
qualification on the consolidated financial statements for the
year ended Dec. 31, 2011.  The independent auditors noted that the
Company has suffered recurring losses from operations and is
undercapitalized.

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

The Company's balance sheet at Sept. 30, 2012, showed $334.17
million in total assets, $328.69 million in total liabilities and
$5.48 million in total shareholders' equity.


COMBIMATRIX CORP: Incurs $1.3-Mil. Net Loss in Third Quarter
------------------------------------------------------------
CombiMatrix Corporation filed its quarterly report on Form 10-Q,
reporting a net loss of $1.3 million on $1.3 million of revenues
for the three months ended Sept. 30, 2012, compared with a net
loss of $2.0 million on $1.2 million of revenues for the
corresponding period last year.

For the nine months ended Sept. 30, 2012, the Company had a net
loss of $5.7 million on $3.9 million of revenues, compared with a
net loss of $5.6 million on $3.4 million of revenues for the same
period of 2011.

The Company's balance sheet at Sept. 30, 2012, showed $4.1 million
in total assets, $1.4 million in total liabilities, and
stockholders' equity of $2.7 million.

A copy of the Form 10-Q is available at http://is.gd/kPMz4t

Irvine, Calif.-based CombiMatrix Corporation is a molecular
diagnostics company that operates primarily in the field of
genetic analysis and molecular diagnostics through its wholly
owned subsidiary, CombiMatrix Molecular Diagnostics, Inc.
("CMDX").  CMDX operates as a diagnostics reference laboratory
providing DNA-based clinical diagnostic testing services to
physicians, hospitals, clinics and other laboratories in two
primary areas: (i) prenatal and postnatal developmental disorders;
and (ii) hematology/oncology genomics.

                           *     *     *

As reported in the TCR on April 16, 2012, Haskell & White LLP, in
Irvine, Calif., expressed substantial doubt about CombiMatrix
Corporation's ability to continue as a going concern, following
the Company's results for the fiscal year ended Dec. 31, 2011.
The independent auditors noted that the Company has a history of
incurring net losses and net operating cash flow deficits.


COMMUNITY SHORES: Reports $1,900 Net Income in Third Quarter
------------------------------------------------------------
Community Shores Bank Corporation filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q
disclosing net income of $1,947 on $2.12 million of total interest
income for the three months ended Sept. 30, 2012, compared with a
net loss of $685,363 on $2.67 million of total interest income for
the same period during the prior year.

The Company reported net income of $259,482 on $6.75 million of
total interest income for the nine months ended Sept. 30, 2012,
compared with a net loss of $1.94 million on $8.22 million of
total interest income for the same period a year ago.

The Company reported a net loss of $2.46 million in 2011, compared
with a net loss of $8.88 million in 2010.

The Company's balance sheet at Sept. 30, 2012, showed $207.72
million in total assets, $208.87 million in total liabilities and
a $1.14 million in total shareholders' deficit.

After auditing the 2011 results, Crowe Horwath LLP, in Grand
Rapids, Michigan, expressed substantial doubt about the Company's
ability to continue as a going concern.  The independent auditors
noted that the Company has incurred significant recurring
operating losses, is in default of its notes payable
collateralized by the stock of its wholly-owned bank subsidiary,
and the subsidiary bank is undercapitalized and is not in
compliance with revised minimum regulatory capital requirements
under a formal regulatory agreement which has imposed limitations
on certain operations.

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

                        http://is.gd/jZnOXS

                      About Community Shores

Muskegon, Mich.-based Community Shores Bank Corporation, organized
in 1998, is a Michigan corporation and a bank holding company.
The Company owns all of the common stock of Community Shores Bank.
The Bank was organized and commenced operations in January 1999 as
a Michigan chartered bank with depository accounts insured by the
FDIC to the extent permitted by law.  The Bank provides a full
range of commercial and consumer banking services primarily in the
communities of Muskegon County and Northern Ottawa County.


CONGRESS COMMONS: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Congress Commons, LLC
        504 Laramie Avenue
        Chicago, IL 60644

Bankruptcy Case No.: 12-44834

Chapter 11 Petition Date: November 12, 2012

Court: United States Bankruptcy Court
       Northern District of Illinois (Chicago)

Judge: Jacqueline P. Cox

Debtor's Counsel: David R. Herzog, Esq.
                  HERZOG & SCHWARTZ PC
                  77 W Washington, Suite 1717
                  Chicago, IL 60602
                  Tel: (312) 977-1600
                  E-mail: drhlaw@mindspring.com

Estimated Assets: $0 to $50,000

Estimated Debts: $10,000,001 to $50,000,000

The Debtor did not file a list of 20 largest unsecured creditors
together with its petition.

The petition was signed by Brant Booker, operating manager.


CONQUEST SANTA FE: Files for Chapter 11 in Tucson
-------------------------------------------------
Conquest Santa Fe, LLC, filed a Chapter 11 petition (Bankr. D.
Ariz. Case No. 12-24937) in Tucson, Arizona on Friday, estimating
at least $10 million in assets and liabilities.

The Debtor on the Petition Date filed a motion to use cash
collateral.  The Debtor is seeking an expedited hearing on the
motion.  The Debtor said that the motion is a critical operational
issue that must be resolved at the commencement of the case to
facilitate the Debtor's transition to debtor-in-possession status
and alleviate certain consequences of filing that could undermine
the Debtor's efforts to maximize potential recoveries for
creditors.

There's a meeting of creditors under 11 U.S.C. Sec. 341(a) on
Dec. 31, 2012 at 11:00 a.m.


CONQUEST SANTA: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Conquest Santa Fe, LLC
        aka Hyatt Place Santa Fe
        7620 N. Hartman Lane, Suite 125
        Tucson, AZ 85743

Bankruptcy Case No.: 12-24937

Chapter 11 Petition Date: November 16, 2012

Court: U.S. Bankruptcy Court
       District of Arizona (Tucson)

Judge: Eileen W. Hollowell

Debtor's Counsel: Frederick J. Petersen, Esq.
                  MESCH, CLARK & ROTHSCHILD, P.C.
                  259 N. Meyer Avenue
                  Tucson, AZ 85701
                  Tel: (520) 624-8886
                  Fax: (520) 798-1037
                  E-mail: ecfbk@mcrazlaw.com

                         - and ?

                  Lowell E. Rothschild, Esq.
                  MESCH, CLARK & ROTHSCHILD, P.C.
                  259 N. Meyer Avenue
                  Tucson, AZ 85701
                  Tel: (520) 624-8886
                  Fax: (520) 798-1037
                  E-mail: ecfbk@mcrazlaw.com

Estimated Assets: $10,000,001 to $50,000,000

Estimated Liabilities: $10,000,001 to $50,000,000

The Company did not file a list of creditors together with its
petition.

The petition was signed by Morris Eigen, member.


COPPER HILL: Case Summary & 19 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Copper Hill Estates, LLC
        16027 Ventura Boulevard, Suite 604
        Encino, CA 91436

Bankruptcy Case No.: 12-20040

Chapter 11 Petition Date: November 13, 2012

Court: U.S. Bankruptcy Court
       Central District of California (San Fernando Valley)

Debtor's Counsel: Simon J. Dunstan, Esq.
                  HUGHES & DUNSTAN LLP
                  21650 Oxnard Street, Suite 1960
                  Woodland Hills, CA 91367
                  Tel: (818) 715-9558
                  Fax: (818) 715-9559
                  E-mail: hughesanddunstan@gmail.com

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

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

A copy of the Company's list of its 19 largest unsecured creditors
filed with the petition is available for free at:
http://bankrupt.com/misc/cacb12-20040.pdf

The petition was signed by Alex Tucciarone.


CORNERSTONE BANCSHARES: Files Form 10-Q, Incurs $364K Loss in Q3
----------------------------------------------------------------
Cornerstone Bancshares, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
net income of $364,246 on $4.73 million of total interest income
for the three months ended Sept. 30, 2012, compared with net
income of $523,668 on $5.11 million of total interest income for
the same period during the prior year.

Cornerstone reported net income of $1.03 million in 2011, compared
with a net loss of $4.70 million in 2010.

For the nine months ended Sept. 30, 2012, the Company reported net
income of $1.03 million on $14.17 million of total interest
income, compared with net income of $917,230 on $15.49 million of
total interest income for the same period during the prior year.

The Company's balance sheet at Sept. 30, 2012, showed $425.17
million in total assets, $387.05 million in total liabilities and
$38.12 million in total stockholders' equity.

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

                        http://is.gd/3StRXD

                    About Cornerstone Bancshares

Chattanooga, Tenn.-based Cornerstone Bancshares, Inc., is a bank
holding company.  Its wholly-owned subsidiary, Cornerstone
Community Bank, is a Tennessee-chartered commercial bank with five
full-service banking offices located in Hamilton County,
Tennessee.

Cornerstone said in its 2011 annual report that as of Dec. 31,
2011, the Company had one loan, currently being serviced by
Midland Loan Services for the FDIC, which totaled approximately $3
million.  The loan contains certain compliance covenants which
include stated minimum or maximum target amounts for Cornerstone's
capital levels, the Bank's capital levels, nonperforming asset
levels at the Bank and the ability of Cornerstone to meet the
required debt service coverage ratio, which is computed on the
four most recent consecutive fiscal quarters.  Due to the level of
nonperforming assets of the Bank and not currently meeting the
required debt service coverage ratio, Cornerstone was not in
compliance with these two covenants at Dec. 31, 2011.  However,
Cornerstone had previously obtained waivers through Dec. 31, 2011.
During March 2012, Cornerstone obtained from the FDIC a waiver of
the covenant compliance requirements through Dec. 31, 2012,
granted that all payments are made in accordance with the
aforementioned repayment schedule.  However, if the Company is
unable to comply with those covenants or obtain an additional
waiver from the lender for violations that occur after Dec. 31,
2012, if any, the lender may declare the loan in default and take
possession of the Bank's common stock.  If this event were to
occur, Cornerstone's assets and operations would be substantially
reduced and therefore its ability to continue as a going concern
would be in substantial doubt.


CULLMAN REGIONAL: Fitch Holds 'BB+' Rating on $66MM Revenue Bonds
-----------------------------------------------------------------
Fitch Ratings has affirmed the 'BB+' rating on the following
Health Care Authority of Cullman County bonds issued on behalf of
Cullman Regional Medical Center (CRMC):

  -- $66.4 million revenue bonds, series 2009A.

The Rating Outlook is revised to Stable from Negative.

SECURITY

The bonds are supported by a pledge of revenues, mortgage, and
debt service reserve.

KEY RATING DRIVERS

EXPECTED OPERATING IMPROVEMENTS: The Outlook revision to Stable is
supported by Fitch's expectation that CRMC will produce material
improvement in operating profitability in fiscal 2013.  CRMC is
undertaking an aggressive plan to reduce costs and improve
reimbursement, which is expected to produce a better than
breakeven operating margin in fiscal 2013, ahead of a -4.1%
operating loss in fiscal 2012.

LIQUIDITY GROWTH VIA A/R MANAGEMENT: CRMC's net accounts
receivable (A/R) was reduced by $4.1 million in fiscal 2012,
resulting in a $2.8 million improvement in cash.  At Sept. 30,
2012 CRMC's unrestricted cash and investments totaled $29.9
million, equating to 126.7 days of cash on hand (DCOH), a 5.2x
cushion ratio and 42.6% cash to debt.

BAD DEBT IMPACTING PROFITABILITY: With a new chief financial
officer in 2011, $4.0 million of bad debt write off related to
fiscal 2009-2010 will be booked through December 2012.  Excluding
the bad debt expense related to prior periods, CRMC's bad debt
expense would have decreased by $1.6 million in fiscal 2012.

WEAK COVERAGE METRICS: The impact from increased bad debt resulted
in poor profitability and weak coverage.  As calculated by Fitch,
CRMC's coverage of maximum annual debt service (MADS) coverage by
EBITDA dropped to a marginal 0.8 times (X) through the three
months ended Sept. 30, 2012.  CRMC produced 1.3x coverage by
EBITDA in fiscal 2012, meeting its 1.0x covenant requirement.

STRONG MARKET POSITION: In July 2012, CRMC obtained Sole Community
Hospital (SCH) status with the closure of Hartselle Medical Center
in January 2012.  SCH status is expected to provide additional
reimbursement of approximately $3 million a year from Medicare
beginning in fiscal 2013.  CRMC is expected to maintain a strong
market position as the only provider between Huntsville and
Birmingham.

Credit Profile

The Outlook revision to Stable from Negative is supported by the
expected implementation of several initiatives put into place in
fiscal 2012 to improve CRMC's operating performance.  CRMC
continued its work on addressing its revenue cycle issues,
reducing its days in A/R to below 50 in fiscal 2012 for the first
time since fiscal 2004.  Fitch expects CRMC to maintain this
improved level of A/R management, which should help stabilize cash
and revenue recognition going forward.

In addressing its A/R, CRMC was required to recognize an
additional $4.0 million in bad debt from fiscal 2009-2010, which
impacted fiscal 2012 results and will carry through its six-month
period ending Dec. 31, 2012 income statement.  Absent the bad debt
carryover from prior years, CRMC's operating EBITDA would have
been an improved 7.5% and coverage of MADS 1.5x by same in fiscal
2012 compared to actual results of 4.3% and 0.9x, respectively.

In addition to addressing its A/R issues, CRMC is implementing a
significant cost reduction and revenue growth plan.  It expects to
reduce costs by $2.7 million via reduced FTE's, better operating
efficiency, and contract renegotiation. Revenue growth will come
from enhanced reimbursement from Medicare as a result of CRMC's
new SCH status (approximately $3 million a year), along with
better payor contracts with its major commercial payors.
Together, CRMC anticipates a $4 million revenue improvement as a
result.

CRMC's market position was strengthened by the closing of its
nearest geographic competitor in 2012, Hartselle Medical Center.
CRMC is now the sole community hospital in its service area, with
an estimated Medicare market share of 85% within its 13 zip code
service area.  CRMC maintains solid clinical and business
relationships with both UAB Health System and Huntsville Hospital.

At Sept. 30, 2012 CRMC had approximately $70.2 million in long
term debt and notes payable, which is essentially all fixed rate.
Following the payoff of the $3.5 million Woodland note in October
2012, long-term debt will decline to $66.7 million.  The paydown
was financed by the sale of the Woodland facility, as expected.
MADS will drop slightly to $5.7 million but still equaled a high
5% of fiscal 2012 revenues.

The Stable Outlook reflects Fitch's expectation that CRMC's
operating profitability in the second half of fiscal 2013 will
reflect significant improvement over the first half.  CRMC's
fiscal 2013 budget includes a 0.6% operating margin (bad debt
classified as an expense) and 1.8x debt service coverage.  The
failure to achieve these results could result in downward rating
pressure.

CRMC is an acute care general hospital with 145 licensed beds (115
beds in service), located in Cullman, AL, which is 50 miles north
of Birmingham. CRMC is designated as a Level III trauma center and
the only provider of interventional cardiology services through an
affiliation agreement with University of Alabama Medical System at
Birmingham (UAB) between Birmingham and Huntsville.  Total
revenues were $115.5 million in fiscal 2012, excluding bad debt
expense.

The hospital covenants to disclose quarterly unaudited (within 60
days) and annual audited financial statements (within 120 days)
including management discussion and analysis by to the Municipal
Securities Rulemaking Board's EMMA System.  Fitch believes that
CRMC disclosure practices are very good.


DENVER POST: Mulls Rockies Sale; CEO Dispels Bankruptcy Fears
-------------------------------------------------------------
Michael Roberts at Denver Westword Blogs reports the Denver Post
announced a desire to sell its 7.3% stake in the Colorado Rockies
-- an asset acquired due to the Rocky Mountain News's 2009
closure.

According to the report, a knowledgeable source told Westword the
sale was motivated by dire financial problems at the Post.
Westword says the problems are serious enough that they could lead
to bankruptcy.  Westword relates Post CEO Ed Moss, however, has
denied this assertion while highlighting what he sees as progress
in improving the paper's economics.

"There couldn't be anything further from the truth," Westword
quotes Mr. Moss as saying about Chapter 11 fears.  According to
Westword, the bankruptcy concerns likely were stoked by the
September bankruptcy filing by the Journal Register Company, a
sister firm of MediaNews Group, the Post's owner.

"The attempt to potentially sell our stake really has everything
to do with what I stated in our press release, and what John
Paton" -- MediaNews Group's CEO, as well as the Journal Register
Company's top dog -- "has been talking about, which is that we're
focusing on our core business.  And we're actually making great
strides at improving our position overall," Mr. Moss said.


DIALOGIC INC: Files Form 10-Q, Incurs $290,000 Net Loss in Q3
-------------------------------------------------------------
Dialogic Inc. filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $290,000 on $42.39 million of total revenue for the three
months ended Sept. 30, 2012, compared with a net loss of $13.09
million on $47.42 million of total revenue for the same period
during the prior year.

For the nine months ended Sept. 30, 2012, the Company reported a
net loss of $33.10 million on $122.05 million of total revenue,
compared with a net loss of $45.64 million on $148.07 million of
total revenue for the same period a year ago.

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

The Company's balance sheet at Sept. 30, 2012, showed $126.69
million in total assets, $140.69 million in total liabilities and
a $13.99 million total stockholders' deficit.

                        Bankruptcy warning

"In the event of an acceleration of our obligations under the Term
Loan Agreement or Revolving Credit Agreement and our failure to
pay the amounts that would then become due, the Revolving Credit
Lender or Term Lenders could seek to foreclose on our assets.  As
a result of this, we would likely need to seek protection under
the provisions of the U.S. Bankruptcy Code and/or our affiliates
might be required to seek protection under the provisions of
applicable bankruptcy codes.  In that event, we could seek to
reorganize our business, or we or a trustee appointed by the court
could be required to liquidate our assets."

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

                        http://is.gd/pfjUvA

                           About Dialogic

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


DIAMOND T: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Diamond T Enterprises, LLC
        208 Prospect Street, Suite A
        Trinidad, CO 81082

Bankruptcy Case No.: 12-33273

Chapter 11 Petition Date: November 13, 2012

Court: U.S. Bankruptcy Court
       District of Colorado (Denver)

Judge: A. Bruce Campbell

Debtor's Counsel: Kenneth J. Buechler, Esq.
                  BUECHLER LAW OFFICE LLC
                  1828 Clarkson Street, Suite 200
                  Denver, CO 80218
                  Tel: (720) 381-0045
                  Fax: (720) 381-0392
                  E-mail: ken@kjblawoffice.com

Scheduled Assets: $309,191

Scheduled Liabilities: $1,624,097

A copy of the Company's list of its 20 largest unsecured creditors
filed with the petition is available for free at:
http://bankrupt.com/misc/cob12-33273.pdf

The petition was signed by Robin A. Torres, manager.

Affiliate that filed separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Kenneth Matthew Torres                09-34032                  --


EASTMAN KODAK: Gets Bankruptcy Control Until February 28
--------------------------------------------------------
Matthew Lewis at Reuters reports that Eastman Kodak Co. has won
court permission to retain exclusive control of its bankruptcy
case through February 28 as it tries to execute a $793 million
financing offer from a group of bondholders.

The report says Judge Alan Gropper approved the extension at a
hearing in a U.S. Bankruptcy Court in Manhattan, allowing Kodak to
move forward with its plan without creditors pushing competing
proposals.  The plan would outline how to repay creditors and exit
bankruptcy.

According to Reuters, the extension was supported by most
creditors.  It was opposed by a group of bondholders, some of whom
had made an unsuccessful effort to finance Kodak's emergence from
Chapter 11.  Kodak said it chose a $793 million loan package from
Centerbridge Partners, GSO Capital Partners, UBS and JPMorgan
Chase & Co.

The report relates the financing deal, which would need court
approval, would require Kodak to receive at least $500 million for
the sale of its patents.

Reuters notes Kodak remains in talks for a patent sale with
potential buyers, including Apple Inc and Google Inc.  It said it
is "confident" the patents will fetch the $500 million required
under terms of the loan.

The report adds Kodak said it hopes to gain court approval of the
plan in December, but no hearing date has been set.

                        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.

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

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

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

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


EASTMAN KODAK: Settlement With ATLC Approved Without Objection
--------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
relates that Eastman Kodak Co. received court approval for a
settlement converting what could have been a $58.6 million secured
claim into a $40.5 million unsecured claim.

According to the report, Kodak hired ATLC Ltd. in 1998 to license
digital-imaging technology. After disputes, there was a settlement
in 2007.  After more disputes, ATLC claimed a breach of the 2007
settlement and later filed a claim for $58.6 million and started
litigation to establish that it had the equivalent of a secured
claim in proceeds from the digital-imaging technology Kodak has
been attempting to sell.

The report relates that the settlement, approved by the bankruptcy
judge on Nov. 14, calls for ATLC to drop all claims aside from an
approved unsecured claim for $40.5 million.  In addition, ATLC
will receive additional unsecured claims equal to 10% of whatever
Kodak recovers in lawsuits against technology licensees.  ATLC
also receives 5% of proceeds of payments by licensees if Kodak
asks for the firm's assistance in the suits.  There were no
objections to the settlement.

Kodak's $400 million in 7% convertible notes due in 2017 traded on
Nov. 14 for 10 cents on the dollar, according to Trace, the bond-
price reporting system of the Financial Industry Regulatory
Authority.

                        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.

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.

Kodak landed $793 million in additional financing to accompany the
$950 million loan approved early in the bankruptcy. If approved by
the bankruptcy court, the loan will convert $375 million of
existing debt into a new secured obligation and allow Kodak to
convert all but $200 million of the new loan into so-called exit
financing that becomes effective on emergence from bankruptcy.


EASTMAN KODAK: Spells Out Details on New $793 Million Financing
---------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Eastman Kodak Co. laid out the details late for an
additional $793 million loan financing the Chapter 11 effort begun
in January.  The loan will turn $375 million of existing debt into
a new secured obligation and allow Kodak to convert all but
$200 million of the new loan into a credit kicking in on emergence
from bankruptcy.

According to the report, there will be a hearing on Nov. 29 in
U.S. Bankruptcy Court in Manhattan for approval of commitment
fees.  The proposal requires approval of the loan itself by
Dec. 31 and closing the loan not later than Feb. 28.

The report relates that Kodak negotiated for the loan with two
different groups of existing second-lien lenders.  The best offer
came from a group consisting of Centerbridge Capital Partners, GSO
Capital Partners, UBS AG and JPMorgan Chase & Co.  The
$793 million loan includes $467 million of new borrowing ability
and a so-called $375 million rollup.  The new loan can be
converted into so-called exit financing for all except $200
million of the new money.  The new financing would be in addition
to the $950 million loan Kodak secured early in the bankruptcy.

Kodak, the report relates, would pay a breakup fee equal to 3% of
the new money loan if a loan with other lenders is eventually
approved.  There will be a fee up to 2% of new money if the loan
isn't eventually taken down.

At a hearing Nov. 14, the bankruptcy judge extended Kodak's
exclusive right to propose a reorganization plan until Feb. 28.

Kodak's $400 million in 7% convertible notes due in 2017 last
traded Wednesday for 10 cents on the dollar, according to Trace,
the bond-price reporting system of the Financial Industry
Regulatory Authority.

                        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.

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.


EDISON MISSION: Misses $97 Million Interest Payment
---------------------------------------------------
Edison Mission Energy said in a regulatory filing that on Nov. 15,
2012, $97 million of interest payments were due on unsecured EME
bonds maturing in 2017, 2019 and 2027.  EME elected not to make
the Nov. 15 interest payments at this time.  EME's unsecured bonds
generally provide for a 30-day grace period for interest payments
before an event of default shall be deemed to have occurred.  If
the interest payments are not made prior to the expiration of the
grace period on Dec. 17, 2012, then generally either the Trustee
or the holders of not less than 25% in aggregate principal amount
of the bonds may declare the entire principal amount of the bonds
and the interest accrued thereon to be due and payable
immediately.  EME's failure to pay indebtedness under its
unsecured bonds will likely result in EME's filing for protection
under Chapter 11 of the U.S. Bankruptcy Code.

                       About Edison Mission

Santa Ana, California-based Edison Mission Energy is a holding
company whose subsidiaries and affiliates are engaged in the
business of developing, acquiring, owning or leasing, operating
and selling energy and capacity from independent power production
facilities.  EME also engages in hedging and energy trading
activities in power markets through its subsidiary Edison Mission
Marketing & Trading, Inc.

EME was formed in 1986 and is an indirect subsidiary of Edison
International.  Edison International also owns Southern California
Edison Company, one of the largest electric utilities in the
United States.

As of Dec. 31, 2010, EME's subsidiaries and affiliates owned or
leased interests in 39 operating projects with an aggregate net
physical capacity of 10,979 MW of which EME's pro rata share was
9,852 MW.  At Dec. 31, 2010, EME's subsidiaries and affiliates
also owned four wind projects under construction totaling 480 MW
of net generating capacity.

The Company reported a $360 million net loss for the first nine
months of 2012 on operating revenue of $1.01 billion.  It had a
net loss of $1.07 billion in 2011, compared with net income of
$163 million in 2010.

The Company's balance sheet at Sept. 30, 2012, showed
$8.17 billion in total assets, $6.68 billion in total liabilities
and $1.48 billion in total equity.

                        Bankruptcy Warning

At June 30, 2012, EME, and its subsidiaries without contractual
dividend restrictions, had corporate cash and cash equivalents of
$879 million, which includes Midwest Generation's cash and cash
equivalents of $177 million.  EME and Midwest Generation's
previous revolving credit agreements have been terminated or
expired and no longer are sources of liquidity.  At June 30, 2012,
EME had $3.7 billion of unsecured notes outstanding, $500 million
of which mature in June 2013.

EME is currently experiencing operating losses due to lower
realized energy and capacity prices, higher fuel costs and lower
generation at the Midwest Generation plants.  Forward market
prices indicate that these trends are expected to continue for a
number of years.  As a result, EME expects that it will incur
further reductions in cash flow and losses in the current year and
in subsequent years.  A continuation of these adverse trends
coupled with pending debt maturities and the need to retrofit its
Midwest Generation plants to comply with governmental regulations
will exhaust EME's liquidity.  Consequently, EME will need to
consider all options available to it, including potential sales of
assets, restructuring, reorganization of its capital structure, or
conservation of cash that would be otherwise applied to the
payment of obligations.  EME has entered into non-disclosure and
engagement agreements with advisors representing certain of its
unsecured bondholders for the purpose of engaging in discussions
with those advisors and Edison International regarding EME's
financial condition.  Absent a restructuring of its obligations,
based on current projections, EME is not expected to have
sufficient liquidity to repay the $500 million debt obligation due
in June 2013.  As a result, EME may need to file for protection
under Chapter 11 of the U.S. Bankruptcy Code.

                           *     *     *
In August 2012, Moody's Investors Service downgraded the long-term
ratings of Edison Mission Energy and its subsidiary, Midwest
Generation Company, LLC (MWG), including EME's senior unsecured
notes to Ca from Caa3 and EME's Corporate Family Rating (CFR) and
Probability of Default Rating (PDR) to Ca from Caa2.  The rating
outlook for EME and MWG is negative.

"The rating action reflects the high probability of a default over
the next several months as the capital structure appears likely to
be restructured in light of expected weak cash flow, environmental
capital requirements, and upcoming debt maturities," said A.J.
Sabatelle, Senior Vice President at Moody's. "The rating action
recognizes comments by EME's management in its recent SEC
quarterly filings concerning the increased default prospects for
EME and its subsidiary MWG, and factors in Moody's recovery
prospects for security holders at EME and MWG in a default
scenario," added Sabatelle.


EMMIS COMMUNICATIONS: To Issue 2.5MM Shares Under Incentive Plan
----------------------------------------------------------------
Emmis Communications Corporation filed with the U.S. Securities
and Exchange Commission a Form S-8 registration statement
registering 2.47 million shares of Class A Common Stock issuable
under the Company's 2012 Equity Compensation Plan.  A copy of the
prospectus is available for free at http://is.gd/lLiyXA

                     About Emmis Communications

Headquartered in Indianapolis, Indiana, Emmis Communications
Corporation -- http://www.emmis.com/-- owns and operates 22 radio
stations serving New York, Los Angeles, Chicago, St. Louis,
Austin, Indianapolis, and Terre Haute, as well as national radio
networks in Slovakia and Bulgaria.  The company also publishes six
regional and two specialty magazines.

                           *     *     *

Emmis carries Caa2 corporate family rating and a Caa3 probability
of default rating from Moody's.

In July 2011, Moody's Investors Service placed the ratings of
Emmis on review for possible upgrade following the company's
earnings release for 1Q12 (ended May 31, 2011) including
additional disclosure related to the pending sale of controlling
interests in three radio stations.  The sale of the majority
ownership to GCTR will generate estimated net proceeds of
approximately $100 million to $120 million, after taxes, fees and
related expenses.  Emmis will retain a minority equity interest in
the operations of the three stations and Moody's expects senior
secured debt to be reduced resulting in improved credit metrics.

The Company's balance sheet at Aug. 31, 2012, showed $287.53
million in total assets, $258.60 million in total liabilities,
$46.88 million in series A cumulative convertible preferred stock,
and a $17.94 million total deficit.


FENTURA FINANCIAL: Reports $1.4 Million Net Income in 3rd Quarter
-----------------------------------------------------------------
Fentura Financial, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
net income of $1.40 million on $3.09 million of total interest
income for the three months ended Sept. 30, 2012, compared with a
net loss of $699,000 on $3.32 million of total interest income for
the same period during the prior year.

For the nine months ended Sept. 30, 2012, the Company reported net
income of $811,000 on $9.26 million of total interest income,
compared with a net loss of $632,000 on $10.02 million of total
interest income for the same period a year ago.

The Company reported a net loss of $1.51 million in 2011, compared
with a net loss of $5.38 million in 2010.

The Company's balance sheet at Sept. 30, 2012, showed $306.50
million in total assets, $290.64 million in total liabilities and
$15.85 million in total stockholders' equity.

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

                        http://is.gd/jGvJt2

                      About Fentura Financial

Based in Fenton, Michigan, Fentura Financial, Inc., is a
registered bank holding company, owns and controls The State Bank,
Fenton, Michigan, and West Michigan Community Bank, Hudsonville,
Michigan, both state nonmember banks, and two nonbank
subsidiaries.  Fentura Financial shares are traded over the
counter under the FETM trading symbol.

Fentura Financial, Inc., entered into a Written Agreement with
the Federal Reserve Bank of Chicago on Nov. 4, 2010.  Among
other things, the Written Agreement requires that the Company
obtain the approval of the FRB prior to paying a dividend;
requires that the Company obtain the approval of the FRB prior to
making any distribution of interest, principal, or other sums on
subordinated debentures or trust preferred securities; prohibits
the Company from purchasing or redeeming any shares of its stock
without the prior written approval of the FRB; requires the
submission of a written capital plan by Jan. 3, 2011, and;
requires the Company to submit cash flow projections for the
Company to the FRB on a quarterly basis.


FIRSTFED FINANCIAL: Wins Confirmation of Chapter 11 Plan
--------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
relates that FirstFed Financial Corp. has an approved Chapter 11
plan after the bankruptcy judge signed a Nov. 13 confirmation
order.  Holders of $157.8 million in debentures were told to
expect a recovery of 16.7% to 24% through distribution of new
stock.  The current plan was FirstFed's second stab at
confirmation.  The first plan was voted down.

                     About FirstFed Financial

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

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


FNBH BANCORP: Reports $118,000 Net Income in Third Quarter
----------------------------------------------------------
FNBH Bancorp, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing net income
of $118,000 on $2.71 million of total interest and dividend income
for the three months ended Sept. 30, 2012, compared with a net
loss of $428,000 on $3.10 million of total interest and dividend
income for the same period during the prior year.

For the nine months ended Sept. 30, 2012, the Company reported net
income of $75,000 on $8.43 million of total interest and dividend
income, compared with a net loss of $3.57 million on $9.62 million
of total interest and dividend income for the same period a year
ago.

The Company's balance sheet at Sept. 30, 2012, showed $305.90
million in total assets, $298.95 million in total liabilities and
$6.94 million in total shareholders' equity.

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

                        http://is.gd/0uCojI

                         About FNBH Bancorp

Howell, Michigan-based FNBH Bancorp, Inc., is a one-bank holding
company, which owns all of the outstanding capital stock of First
National Bank in Howell.  The Bank was originally organized in
1934 as a national banking association.  As of Dec. 31, 2011, the
Bank had approximately 85 full-time and part-time employees.  The
Bank serves primarily five communities, Howell, Brighton, Green
Oak Township, Hartland, and Fowlerville, all of which are located
in Livingston County.

Following the 2011 results, BDO USA, LLP, in Grand Rapids,
Michigan, expressed substantial doubt about FNBH Bancorp's ability
to continue as a going concern.  The independent auditors noted
that Corporation's subsidiary bank is significantly
undercapitalized under regulatory capital guidelines and, during
2009, the Bank entered into a consent order regulatory enforcement
action with its primary regulator, the Office of the Comptroller
of the Currency.  "The consent order requires management to take a
number of actions, including, among other things, increasing and
maintaining its capital levels at amounts in excess of the Bank's
current capital levels.  The Bank has not yet met the higher
capital requirements and is therefore not in compliance with the
consent order."


FOUR OAKS: Incurs $2.2 Million Net Loss in Third Quarter
--------------------------------------------------------
Four Oaks Fincorp, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $2.16 million on $8.30 million of total interest and
dividend income for the three months ended Sept. 30, 2012,
compared with a net loss of $3.58 million on $9.64 million of
total interest and dividend income for the same period during the
previous year.

For the nine months ended Sept. 30, 2012, the Company recorded a
net loss of $1.58 million on $26.04 million of total interest and
dividend income, compared with a net loss of $5.98 million on
$30.77 million of total interest and dividend income for the same
period during the preceding year.

The Company reported a net loss of $9.1 million in 2011, compared
with a net loss of $28.3 million in 2010.

Four Oaks' balance sheet at Sept. 30, 2012, showed $907.16 million
in total assets, $878.40 million in total liabilities and $28.76
million in total shareholders' equity.

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

                        http://is.gd/qJ7hIo

                          About Four Oaks

Based in Four Oaks, North Carolina, Four Oaks Fincorp, Inc., is
the bank holding company for Four Oaks Bank & Trust Company.  The
Company has no significant assets other than cash, the capital
stock of the bank and its membership interest in Four Oaks
Mortgage Services, L.L.C., as well as $1,241,000 in securities
available for sale as of Dec. 31, 2011.

The Company said in its quarterly report for the period ended
March 31, 2012, that "The Company and the Bank entered into a
formal written agreement (the "Written Agreement") with the
Federal Reserve Bank of Richmond ("FRB") and the North Carolina
Office of the Commissioner of Banks ("NCCOB") that imposes certain
restrictions on the Company and the Bank, as described in Notes I
and J.  A material failure to comply with the Written Agreement's
terms could subject the Company to additional regulatory actions
and further restrictions on its business, which may have a
material adverse effect on the Company's future results of
operations and financial condition."


FRANK SMITH'S: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Frank Smith's Inc.
        dba The Dead Fish Grill
        2207 Lake Road
        Belton, TX 76513

Bankruptcy Case No.: 12-61194

Chapter 11 Petition Date: November 12, 2012

Court: United States Bankruptcy Court
       Western District of Texas (Waco)

Judge: Craig A. Gargotta

Debtor's Counsel: John A. Montez, Esq.
                  MONTEZ & WILLIAMS, P.C.
                  3809 W. Waco Dr.
                  Waco, TX 76710
                  Tel: (254) 759-8600
                  Fax: (254) 759-8700
                  E-mail: johna.montez@yahoo.com

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

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

A copy of the Company's list of its 20 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/txwb12-61194.pdf

The petition was signed by James Hightower, president.


FRIENDFINDER NETWORKS: Incurs $7.7-Mil. Net Loss in 3rd Quarter
---------------------------------------------------------------
Friendfinder Networks Inc. filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $7.74 million on $77.72 million of total revenue for
the three months ended Sept. 30, 2012, compared with a net loss of
$5.39 million on $82.73 million of total revenue for the same
period during the preceding year.

The Company recorded a net loss of $39.80 million on $239.81
million of total revenue for the nine months ended Sept. 30, 2012,
compared with a net loss of $20.93 million on $249.62 million of
total revenue for the same period a year ago.

The Company's balance sheet at Sept. 30, 2012, showed $462.18
million in total assets, $629.24 million in total liabilities and
a $167.06 million total stockholders' deficiency.

As of Sept. 30, 2012, the Company had unrestricted cash and cash
equivalents of $14.6 million, compared to $12.8 million at
June 30, 2012.  As of Sept. 30, 2012, the Company had outstanding
principal debt of $504.4 million.  Free Cash Flow per Share was
$0.45 for the third quarter ended Sept. 30, 2012.

"By refocusing our efforts on more effectively supporting our
dominant revenue-generating properties, FriendFinder Networks
continues to make significant operational progress.  Reflective of
these efforts was a 7.5% quarter-over-quarter and a 6.2% year-
over-year improvement in Average Revenue per User (ARPU) within
the Adult segment during the third quarter," said Anthony Previte,
chief executive officer of FriendFinder Networks.  "The continued
strengthening of our operational results further bolstered our
Adjusted EBITDA, which increased to $22.5 million for the third
quarter, up 11.0% year-over-year and up 33% compared to the prior
quarter.  We expect to see similar levels of adjusted EBITDA going
forward, supported by the rollout of new products and enhancements
in Q4 to our flagship brands as well as the launch of a new
interactive TV product that we are very excited about."

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

                        http://is.gd/Q9n0l2

                    About FriendFinder Networks

FriendFinder Networks (formerly Penthouse Media Group) owns and
operates a variety of social networking Web sites, including
FriendFinder.com, AdultFriendFinder.com, Amigos.com, and
AsiaFriendFinder.com.  All total, its Web sites are offered in 12
languages to users in some 170 countries.  The company also
publishes the venerable adult magazine PENTHOUSE, and produces
adult video content and related images.  The Company is based in
Boca Raton, Florida.

                           *     *     *

In the Nov. 14, 2012, edition of the TCR, Standard & Poor's
Ratings Services lowered its rating on FriendFinder Networks Inc.
to 'CC' from 'CCC'.

"The downgrade follows FriendFinder's announcement that it had
reached a forbearance agreement with 85% of the lenders in its
senior secured notes and 100% of the lenders in its second lien
cash pay notes that defers the excess cash flow payments through
Feb. 4, 2013," said Standard & Poor's credit analyst Daniel
Haines.  "The company has decided to preserve liquidity as it
attempts to refinance its debt.  We are withdrawing our ratings at
the company's request."


FULLCIRCLE REGISTRY: Reports $103,800 Net Loss in Third Quarter
---------------------------------------------------------------
FullCircle Registry, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $103,824 on $497,083 of revenues for
the three months ended Sept. 30, 2012, compared with a net loss of
$205,095 on $331,661 of revenues for the comparable period last
year.

For the nine months ended Sept. 30, 2012, the Company reported a
net loss of $264,028 on $1.41 million of revenues, compared with a
net loss of $379,951 on $985,062 of revenue for the corresponding
period of 2011.

The Company's balance sheet at Sept. 30, 2012, showed
$6.19 million in total assets, $6.15 million in total liabilities,
and stockholders' equity of $38,968.

The Company has incurred losses resulting in an accumulated
deficit of $8.71 million and $8.44 million as of Sept. 30, 2012,
and Dec. 31, 2011, respectively.  The Company has negative working
capital and a capital deficiency at Sept. 30, 2012.

As reported in the TCR on April 16, 2012, Rodefer Moss & Co.,
PLLC, in New Albany, Indiana, expressed substantial doubt about
FullCircle Registry's ability to continue as a going concern.  The
independent auditors noted that the Company has suffered recurring
losses from operations and has a net working capital deficiency.

A copy of the Form 10-Q is available at http://is.gd/jmT2Tg

Located in Shelbyville, Kentucky, FullCircle Registry, Inc.'s
current business plan involves the acquisition of small profitable
businesses.  FullCircle Registry, Inc., has become a holding
company with currently three subsidiaries.  They are FullCircle
Entertainment, Inc., FullCircle Insurance Agency, Inc.. and
FullCircle Prescription Services, Inc.  Target companies are those
in search of exit plans for the owners and are intended to
continue autonomous operations as current ownership is phased out
over a period of 3-5 years.


GAMETECH INT'L: Wins Approval of Outline for Liquidating Plan
-------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
relates that creditors of GameTech International Inc. can begin
voting on the liquidating Chapter 11 plan now that the bankruptcy
court in Delaware has approved disclosure materials.  The
confirmation hearing for approval of the plan will take place
Dec. 13.

According to the report, unsecured creditors with claims estimated
to range between $1.5 million and $1.7 million are expected to
recover from 36% to 70%, according to the disclosure statement.
The payments will come from recoveries by a liquidating trust
after claims with higher priority are paid.

The report notes that the company warned that the recovery could
be "materially negatively impacted" if the Internal Revenue
Service's priority tax claim for $1.7 million is valid.  GameTech
contends the claim is worth no more than $700,000.

                   About GameTech International

Based in Reno, Nevada, GameTech develops and manufactures gaming
entertainment products and systems.  GameTech holds a significant
position in the North American bingo market with its interactive
electronic bingo systems, portable and fixed-based gaming units,
and complete hall management modules.  It also holds a significant
position in select North American VLT markets, primarily Montana,
Louisiana, and South Dakota, where it offers video lottery
terminals and related gaming equipment and software.  It also
offers Class III slot machines and server-based gaming systems.

GameTech International, Inc. and its wholly owned subsidiaries
have filed Chapter 11 petitions (Bankr. D. Del. Lead Case No.
12-11964) on July 2, 2012, to effect a restructuring of the
company's debt obligations.

GameTech disclosed total assets of $27.22 million and total
liabilities of $22.88 million as of Jan. 29, 2012.  GameTech's $16
million secured credit matured on June 30.  Three days earlier,
the loan was purchased by YIGT.

Before bankruptcy, GameTech rejected an offer from YIGT to combine
the two companies.  GameTech said in a court filing that it was
hoping for a more favorable transaction.  GameTech said that YIGT
purchased the loan at discount from lenders US Bank NA and Bank of
the West.

Judge Peter J. Walsh presides over the case.  The Debtors are
represented by Greenberg Traurig, LLP.  Kinetic Advisors, LLC,
serves as the Debtors' financial advisor.


GATEWAY INSURANCE: A.M. Best Places 'B' FSR on Review
-----------------------------------------------------
A.M. Best Co. has placed under review with developing implications
the financial strength rating of B (Fair) and issuer credit rating
of "bb" of Gateway Insurance Company (Gateway) (St. Louis, MO).

The rating actions follow disclosure of a definitive agreement
under which Atlas Financial Holdings, Inc. (Atlas) (Cayman
Islands) (TSXV: AFH) will acquire all outstanding shares of
Camelot Services, Inc. (Camelot), whose sole subsidiary is
Gateway, for approximately $23 million. Camelot's ultimate parent
is Diane M. Hendricks Enterprises, Inc.

The ratings will remain under review until the closing of the
transaction and the completion of A.M. Best's analysis of the
impact the agreement will have on Gateway and the prospective
group of Atlas insurers.  The transaction is expected to close in
the first quarter of 2013, subject to customary closing
conditions, including regulatory approval of the change in control
of Gateway.


GENERAL GROWTH: Completes Financing on $1.2BB Property-Level Debt
-----------------------------------------------------------------
Equities.com reports General Growth Properties Inc. completed the
financing of $1.2 billion in property-level debt.  The new loans
have a weighted average interest rate of 3.65% and an average term
of 8.4 years, compared to the 4.62% interest rate on the previous
loans, which were due to mature in about a year.

According to the report, the transactions generated approximately
$545 million in net proceeds for the firm.  Properties included in
the financings are: Newgate Mall in Ogden, Utah; Fashion Place in
Murray, Utah; Town East Mall in Mesquite, Texas; Tucson Mall in
Tucson, Ariz.; Visalia Mall in Visalia, Calif.; Coastland Center
in Naples, Fla. and Bridgewater Commons in Bridgewater, N.J.

The report relates, having completed $7.9 million in financing
deals this year, GGP has no property-level debt maturing in 2012.
The company has been working hard to reduce its leverage and keep
its financials in order after going through Chapter 11 bankruptcy
in 2009-2010 as a result of taking on too many loans during the
boom years.

The report says RBC Capital Markets' analyst Rich Moore noted in a
Nov. 5 report that GGP's leverage level remains "naggingly high,"
restraining the company's acquisition activity. In the third
quarter, the REIT's debt to gross assets ratio stood at 64.1%,
with total long-term debt of $18.9 billion, in RBC estimates.

                       About General Growth

Based in Chicago, Illinois, General Growth Properties, Inc. --
http://www.ggp.com/-- is the second-largest U.S. mall owner.
General Growth is a self-administered and self-managed real estate
investment trust.

General Growth Properties Inc. and its affiliates filed for
Chapter 11 protection on April 16, 2009 (Bankr. S.D.N.Y., Case No.
09-11977).  Marcia L. Goldstein, Esq., Gary T. Holtzer, Esq.,
Adam P. Strochak, Esq., and Stephen A. Youngman, Esq., at Weil,
Gotshal & Manges LLP, serve as bankruptcy counsel.  Kirkland &
Ellis LLP is co-counsel.  Kurtzman Carson Consultants LLC has been
engaged as claims agent.  The Company also hired AlixPartners LLP
as financial advisor and Miller Buckfire Co. LLC, as investment
bankers.  The Debtors disclosed $29,557,330,000 in assets and
$27,293,734,000 in debts as of Dec. 31, 2008.

General Growth Properties on Nov. 9, 2010, successfully completed
the final steps of its financial restructuring and emerged from
Chapter 11.  GGP restructured roughly $15 billion of project-level
debt Recapitalized with $6.8 billion in new equity capital Paid
all creditor claims in full achieved substantial recovery for
equity holders.

As part of its plan of reorganization, GGP split itself into two
separate and independent publicly traded corporations, and
shareholders as of the record date of Nov. 1, 2010, received
common stock in both companies.


GLOBAL SHIP: Has $8.3 Million Net Income in Third Quarter
---------------------------------------------------------
Global Ship Lease, Inc., recorded net income of US$8.34 million on
US$39.45 million of time charter revenue for the three months
ended Sept. 30, 2012, compared with a net loss of US$935,000 on
US$38.67 million of time charter revenue for the same period
during the prior year.

For the nine months ended Sept. 30, 2012, Global Ship reported net
income of US$23.80 million on US$117.03 million of time charter
revenue, compared with a net loss of uS$1.78 million on $116.55
million of time charter revenue for the same period during the
prior year.

The Company's balance sheet at Sept. 30, 2012, showed US$907.84
million in total assets, US$549.46 million in total liabilities
and US$358.38 million in total stockholders' equity.

Ian Webber, chief executive officer of Global Ship Lease, stated,
"We generated strong results for the third quarter, despite
challenging conditions in the container shipping industry.  We
successfully maintained our entire fleet on charters during the
quarter including two charter renewals, enabling us to achieve
utilization of 99.2% and EBITDA of $26.9 million.  With contracted
revenue for our 17 vessels of $1.1 billion and an average
remaining charter term of 7.6 years, we are optimistic about the
outlook for our business."

Mr. Webber continued, "We repaid $23 million of debt during the
third quarter, further strengthening our balance sheet.  Net bank
debt at September 30, 2012 was $407.4 million and trailing 12
months Adjusted EBITDA was $105.4 million giving a net bank debt
to Adjusted EBITDA ratio of 3.9. Due to continued pressure on
asset values, we proactively approached our bank group to secure a
waiver from our upcoming loan-to-value test due November 30, 2012.
Our stable business model has enabled us to agree with our lenders
to suspend this requirement for a further two years.  With the new
waiver in place, we have no exposure to the volatility of asset
values and will continue to deploy our strong cash flow to
aggressively repay debt.  Importantly, the Leverage Ratio has no
direct impact on our ability to generate stable revenue and
predictable cash flows."

A copy of the press release is available for free at:

                        http://is.gd/jVl8l9

                      About Global Ship Lease

London, England-based Global Ship Lease (NYSE: GSL, GSL.U and
GSL.WS) -- http://www.globalshiplease.com/-- is a containership
charter owner.  Incorporated in the Marshall Islands, Global Ship
Lease commenced operations in December 2007 with a business of
owning and chartering out containerships under long-term, fixed
rate charters to world class container liner companies.

Global Ship Lease owns 17 vessels with a total capacity of 66,297
TEU with a weighted average age at June 30, 2010, of 6.3 years.
All of the current vessels are fixed on long-term charters to CMA
CGM with an average remaining term of 8.6 years.  The Company has
contracts in place to purchase two 4,250 TEU newbuildings from
German interests for approximately $77 million each that are
scheduled to be delivered in the fourth quarter of 2010.  The
Company also has agreements to charter out these newbuildings to
Zim Integrated Shipping Services Limited for seven or eight years
at charterer's option.

As reported in the Dec. 1, 2012, edition of the TCR, Global Ship
Lease disclosed that it had entered into an agreement with its
lenders to waive until Nov. 30, 2012, the requirement under its
credit facility to conduct loan-to-value tests.  The credit
facility requires that loan-to-value, which is the ratio of
outstanding borrowings under the credit facility to the aggregate
charter-free market value of the secured vessels, cannot exceed
75%.


HARTWICK COLLEGE: Moody's Withdraws 'Ba1' Rating on 2002A Bonds
---------------------------------------------------------------
Moody's Investors Service has withdrawn the Ba1 rating on Hartwick
College's Series 2002A Bonds which were issued through the County
of Otsego Industrial Development Authority. The rating withdrawal
follows the redemption of these bonds. At this time, the college
no longer maintains debt outstanding with a Moody's rating.

Summary Rating Rationale

Moody's has withdrawn the rating because the bonds have been
redeemed.


HELICOS BIOSCIENCES: Files for Ch.11 Creditor Protection
--------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Helicos Biosciences Corp., the development-stage
company working on technology to analyze genetic material, filed a
Chapter 11 petition (Bankr. D. Mass. Case No. 12-19091) on Nov. 15
in Boston.

The Cambridge, Massachusetts-based company disclosed assets of
$3.5 million and debt totaling $15.5 million.

The company's technology is based on analysis of one molecule of
DNA material.  Revenue has totaled $13.3 million since inception
in 2003.  For the six months ended June 30, revenue of
$1.13 million resulted in a net loss of $1.38 million.


HIGHLANDS BANKSHARES: Reports $782,000 Net Income in 3rd Quarter
----------------------------------------------------------------
Highlands Bankshares, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q recording
net income of $782,000 on $6.15 million of total interest income
for the three months ended Sept. 30, 2012, compared with net
income of $75,000 on $6.78 million of total interest income for
the same period during the prior year.

For the nine months ended Sept. 30, 2012, the Company reported net
income of $1.85 million on $19.10 million of total interest
income, compared with a net loss of $2.02 million on $20.68
million of total interest income for the same period a year ago.

The Company's balance sheet at Sept. 30, 2012, showed $598.94
million in total assets, $568.50 million in total liabilities and
$30.43 million in total stockholders' equity.

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

                        http://is.gd/vrGxoS

                    About Highlands Bankshares

Abingdon, Va.-based Highlands Bankshares, Inc., is a one-bank
holding company organized under the laws of Virginia in 1995 and
registered under the Federal Bank Holding Company Act of 1956.
The Company conducts the majority of its business operations
through its wholly-owned bank subsidiary, Highlands Union Bank.
The Company has two direct subsidiaries as of Dec. 31, 2011: the
Bank, which was formed in 1985, and Highlands Capital Trust I, a
statutory business trust (the "Trust") which was formed in 1998.

The Bank is a Virginia state chartered bank that was incorporated
in 1985.  The Bank operates a commercial banking business from its
headquarters in Abingdon, Virginia, and its thirteen area full
service branch offices.

"During the first quarter of 2011, the Bank's total risk based
capital ratio fell below the required minimum to be "well -
capitalized," the Company said in its quarterly report for the
period ended March 31, 2012.  "The Bank's Tier 1 Capital to Risk
Weighted assets ratio and Tier 1 capital to Adjusted Total Assets
remained above the "well-capitalized" thresholds.  Because the
Bank's total risk- based capital ratio was below 10% as of Dec.
31, 2011, and March 31, 2012, the Bank is considered to be
"adequately-capitalized" under the regulatory framework for prompt
corrective action.  As a result of our status as "adequately-
capitalized" for regulatory capital purposes, we cannot renew or
accept brokered deposits without prior regulatory approval and we
may not offer interest rates on our deposit accounts that are
significantly higher than the average rates in our market area.
The Bank has increased its total risk based capital ratio from
8.77% at March 31, 2011, to 9.44% at March 31, 2012.  The Bank's
total risk based capital ratio was 9.08% at Dec. 31, 2011."


HOMETOWN COMMUNITY: Closed; CertusBank Assumes All Deposits
-----------------------------------------------------------
Hometown Community Bank of Braselton, Ga., was closed on Friday,
Nov. 16, by the Georgia Department of Banking and Finance, which
appointed the Federal Deposit Insurance Corporation as receiver.
To protect the depositors, the FDIC entered into a purchase and
assumption agreement with CertusBank, National Association, of
Easley, S.C., to assume all of the deposits of Hometown Community
Bank.

The two branches of Hometown Community Bank will reopen during
normal banking hours as branches of CertusBank, N.A.  Depositors
of Hometown Community Bank will automatically become depositors of
CertusBank, N.A.  Deposits will continue to be insured by the
FDIC, so there is no need for customers to change their banking
relationship in order to retain their deposit insurance coverage
up to applicable limits.  Customers of Hometown Community Bank
should continue to use their existing branch until they receive
notice from CertusBank, N.A., that it has completed systems
changes to allow other CertusBank, N.A., branches to process their
accounts as well.

As of Sept. 30, 2012, Hometown Community Bank had around $124.6
million in total assets and $108.9 million in total deposits.  In
addition to assuming all of the deposits of the failed bank,
CertusBank, N.A., agreed to purchase essentially all of the
assets.

Customers with questions about the transaction should call the
FDIC toll-free at 1-800-830-4725.  Interested parties also can
visit the FDIC's Web site at

   http://www.fdic.gov/bank/individual/failed/hometown.html

The FDIC estimates that the cost to the Deposit Insurance Fund
will be $36.7 million.  Compared to other alternatives,
CertusBank, N.A.'s acquisition was the least costly resolution for
the FDIC's DIF.  Hometown Community Bank is the 50th FDIC-insured
institution to fail in the nation this year, and the tenth in
Georgia.  The last FDIC-insured institution closed in the state
was Jasper Banking Company, Jasper, on July 27, 2012.


HORIYOSHI WORLDWIDE: Incurs $499,400 Net Loss in Third Quarter
--------------------------------------------------------------
Horiyoshi Worldwide, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $499,444 on $376,428 of revenue for
the three months ended Sept. 30, 2012, compared with a net loss of
$1.0 million on $266,046 of revenue for the same period last year.

For the nine months ended Sept. 30, 2012, the Company had a net
loss of $1.7 million on $839,272 of revenue, compared with a net
loss $2.1 million on $532,860 of revenue for the same period of
2011.

The Company's balance sheet at Sept. 30, 2012, showed $2.0 million
in total assets, $1.8 million in total current liabilities, and
stockholders' equity of $191,447.

"As of Sept. 30, 2012, our Company has accumulated losses of
$5,412,879 since inception and has earned no net income since
inception.  Our Company intends to fund operations through equity
financing arrangements, which may be insufficient to fund its
capital expenditures, working capital and other cash requirements
for the year ending Dec. 31, 2012."

A copy of the Form 10-Q is available at http://is.gd/dRcEOO

Los Angeles, Calif.-based Horiyoshi Worldwide, Inc., is a clothing
and accessories design and distribution company whose products are
inspired by the artwork of Japanese master tattoo artist Yoshihito
Nakano -- better known as Horiyoshi III.

                          *     *     *

As reported in the TCR on April 9, 2012, EFP Rotenberg, LLP, in
Rochester, New York, expressed substantial doubt about Horiyoshi
Worldwide's ability to continue as a going concern, following the
Company's results for the fiscal year ended Dec. 31, 2011.  The
independent auditors noted that the Company has accumulated losses
of $3,732,640 since inception.


HORIZON PHARMA: Incurs $17-Mil. Net Loss in Third Quarter
---------------------------------------------------------
Horizon Pharma, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $17.0 million on $6.5 million of net sales
for the three months ended Sept. 30, 2012, compared with a net
loss of $17.2 million on $273,000 of net sales for the same period
a year ago.

Net loss decreased from $17,231,000 during the three months ended
Sept. 30, 2011, to $16,953,000 during the three months ended
September 30, 2012, primarily as a result of higher sales and
gross profit and the recognition of a one-time income tax benefit,
partially offset by the increase in expenses.

For the nine months ended Sept. 30, 2012, the Company had a net
loss of $63.5 million on $12.9 million of net sales, compared with
a net loss of $36.5 million on $3.4 million of net sales for the
same period of 2011.

Net loss increased from $36,538,000 during the nine months ended
Sept. 30, 2011, to $63,461,000 during the nine months ended
Sept. 30, 2012, primarily as a result of the increase in expenses,
partially offset by higher sales and gross profit.

The Company's balance sheet at Sept. 30, 2012, showed
$212.3 million in total assets, $83.9 million in total
liabilities, and stockholders' equity of $128.4 million.

                     Going Concern Uncertainty

As of Sept. 30, 2012, the Company was in compliance with all
financial loan covenants of its $60 million loan facility with a
group of institutional investors.  According to the regulatory
filing, should the Company not meet these quarterly minimum
revenue covenants, in addition to an increase in the interest rate
payable under the loan facility, the lenders have the right to
demand repayment of the obligations under the loan.  "The Company
also cannot predict whether the lenders would demand repayment of
the outstanding balance of the loan if the Company was unable to
meet the minimum quarterly revenue covenants.  The inability to
meet the covenants under the loan facility could have an adverse
impact on the Company's financial position and results of
operations.  These uncertainties and lack of commercial operating
history raise substantial doubt about the Company's ability to
continue as a going concern."

A copy of the Form 10-Q is available at http://is.gd/tj1M9L

Horizon Pharma, Inc., headquartered in Deerfield, Illinois, is a
biopharmaceutical company that is developing and commercializing
innovative medicines to target unmet therapeutic needs in
arthritis, pain and inflammatory diseases.

                           *     *     *

As reported in the TCR on March 29, 2012, PricewaterhouseCoopers
LLP, in Chicago, Illinois, expressed substantial doubt about
Horizon Pharma's ability to continue as a going concern.
The independent auditors noted that the Company has a limited
commercial operating history and may not be able to comply with
certain debt covenants.


HOSTESS BRANDS: To Wind Down Operations, Drops Reorganization
-------------------------------------------------------------
Hostess Brands Inc. on Friday made good of its threat to liquidate
the business.

Hostess had given the Bakery, Confectionery, Tobacco Workers and
Grain Millers Union until 5 p.m., EST, Thursday to call off the
strike and tell striking employees to return to work.  The Company
determined on the night of Nov. 15 that an insufficient number of
employees had returned to work to enable the restoration of normal
operations.

The strikes were called on Nov. 9 by the Bakery Union.

With no resolution in sight, Hostess filed papers in Bankruptcy
Court seeking interim and final orders:

     (a) approving (i) the Debtors' current plan for (A) the
         orderly winddown of the various business operations and
         sale of assets and (B) maintenance, security and
         preservation of the Debtors' assets for eventual sale;
         (ii) the sale and/or abandonment and disposal of finished
         goods, certain excess ingredients and packaging; (iii) a
         retention plan for certain of the Debtors' non-senior
         management employees that the Debtors must retain to
         implement and effect the Winddown Plan; (iv) an incentive
         plan for certain of the Debtors' senior management
         employees; (v) the Debtors' use of certain third party
         contractors as necessary to implement the Winddown Plan;
         (vi) certain protections for directors and officers that
         developed and approved and/or will implement and/or
         oversee the Winddown Plan; and (vii) procedures for the
         expedited rejection in the future of executory contracts
         and unexpired leases;

     (b) authorizing the non-consensual use of the cash collateral
         of certain of the Debtors' lenders and approving certain
         modifications to the Final DIP Order and the DIP Credit
         Agreement; and

     (c) authorizing the Debtors to take any and all actions that
         are necessary in the exercise of their business judgment
         to implement the Winddown Plan.

In a press statement released at 7:00 a.m. on Friday, Hostess
said" Hostess Brands is Closed. . . . We are sorry to announce
that Hostess Brands, Inc. has been forced by a Bakers Union strike
to shut down all operations and sell all company assets. For more
information, go to hostessbrands.info. Thank you for all of your
loyalty and support over the years."

The BCTGM in September rejected a last, best and final offer from
Hostess designed to lower costs so that the Company could attract
new financing and emerge from Chapter 11.  Hostess then received
Court authority on Oct. 3 to unilaterally impose changes to the
BCTGM's collective bargaining agreements.

Hostess already won labor concessions with the International
Brotherhood of Teamsters, the Company's largest union, and the
other smaller labor groups.  The Bakers' union, the second-
largest, however, wouldn't budge.

Hostess' offer to the BCTGM included wage, benefit and work rule
concessions but also gave Hostess' 12 unions a 25% ownership stake
in the company, representation on its Board of Directors and $100
million in reorganized Hostess' debt.

According to Hostess, a sufficient number of its baking facilities
have become inoperable as a result of the strikes, and the Debtors
are no longer able to fulfill customer orders or sell product at
their retail stores.  Because of the material impairment of the
Debtors' business operations, the Debtors will soon lose access to
the funding necessary to operate their businesses, and the Debtors
will have triggered certain remedial provisions of the Final DIP
Order.  As a result, the Debtors are beginning to take steps to
wind down their business operations.  The Debtors said no viable
buyer emerged for the Debtors as a whole.

The wind down means the closure of 33 bakeries, 565 distribution
centers, approximately 5,500 delivery routes and 570 bakery outlet
stores throughout the United States.  Hostess already closed on
Nov. 12, three plants in Seattle, St. Louis, and Cincinnati as a
result of the work stoppage.

Hostess said its Winddown Plan is designed to maximize the value
of the Debtors' now-liquidating chapter 11 estates while
protecting the safety of consumers and the Debtors' employees
through, among other things:

     (a) the completion of tasks and implementation of procedures
         to preserve, maintain and protect the Debtors' assets
         pending ultimate liquidation;

     (b) the return, sale or disposal of certain of the Debtors'
         perishable ingredients and generic packaging;

     (c) the continued employment of initially about 3,200
         employees to oversee the Winddown;

     (d) the provision of retention payments to retain non-senior
         management employees and incentive payments to about
         19 corporate officers and/or high-level managers to
         motivate and encourage such employees to complete and
         achieve certain tasks and goals associated with the
         Winddown; and

     (e) the use of certain third-party contractors (e.g.,
         security personnel; barricade providers; millwright
         labor; transportation/logistics personnel; environmental
         consultants; and temporary finance and accounting staff)
         where necessary to implement the Winddown Plan.

Hostess said the desired outcome of the Winddown is the sale of
groups of assets that can be operated on a going concern basis,
which would result in the buyer assuming as many of the related
administrative expenses and other claims as possible.  The Debtors
hope to complete the Winddown and the sale(s) of substantially all
of the Debtors' assets in about one year.

For planning purposes, the Winddown has been divided into 13
discrete four-week phases.  The Debtors have completed planning
for the operational aspects of the Winddown for 13 Winddown
Periods -- the entire one-year projected duration of the Winddown.
However, the Debtors have only finalized their operational and
other cost projections for the first 13 weeks of the Winddown, as
seeking to project revenues and costs further than that would
require utilizing numerous and material assumptions that may or
may not prove to be correct.

Over the first 13 weeks of the Winddown, Hostess projects these
costs associated with the wind down and disposition of each of:

                                   13-Week Projected Cost
                                   ----------------------
     Plants and related assets        $17.58 million
     Depots and related assets         $6.85 million
     Retail Stores and GOB Sales       $8.76 million
     Corporate functions               $8.10 million

The Company said its debtor-in-possession lenders have agreed to
allow the Company to continue to have access to the $75 million
financing facility put in place at the start of the bankruptcy
cases to fund the sale and wind down process, subject to U.S.
Bankruptcy Court approval.

The Debtors have consulted and negotiated with the DIP Agent and
have developed a 13-week cash flow Liquidation Budget.  The DIP
Agent has not committed to the Debtors' use of their cash
collateral past the 13-week Liquidation Budget.

Hostess said the current 13-week Liquidation Budget provides
adequate funds for the Debtors to:

     (a) provide a pay down of all of the $45 million of
         ABL Pre-Petition Indebtedness as asset sales permit
         and as set forth in the Liquidation Budget;

     (b) pay the Winddown-related administrative expenses that
         arise from and after the commencement of the Winddown,
         as specified in the Liquidation Budget; and

     (c) pay accrued ordinary course administrative expenses
         that are specified in the Liquidation Budget, such as
         accrued wages and benefits for hours worked prior to the
         commencement of the Winddown, sales taxes, utility
         payments and certain other amounts.

The Debtors have obtained a Seventh Amendment to the DIP Credit
Agreement, which, among other things, (a) permit the Debtors to
access the full amount of the $75 million loan advanced to the
Debtors pursuant to DIP Credit Agreement during the Winddown, (b)
eliminate the Chapter 11 Milestones related to a plan of
reorganization process and (c) make certain other changes to
ensure the Debtors do not lose access to the funding pursuant to
the terms of the DIP Credit Agreement as a result of the
implementation of the Winddown Plan.

The Court will hold an interim hearing on Nov. 19 at 2:00 p.m. to
consider Hostess' request to liquidate.  Objections to the request
are due by 10:00 a.m. Monday.

                       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.


HOSTESS BRANDS: Has "Potentially-Viable Proposals" for Some Assets
------------------------------------------------------------------
David Benoit, writing for The Wall Street Journal's Deal Journal
section, reports that Hostess Brands CEO Gregory Rayburn told CNBC
on Friday that as the company winds down its operations after
failing to reach an agreement with a union, it will try to sell
its various brands.  There are 30 separate brands under the
company's sugary umbrella.  "I'm certainly hopeful we can sell the
brands and that the brands can live on," Rayburn said. "They are
iconic."

Deal Journal also reports Hostess has said that while it was
unsuccessful in luring a buyer for the business as a whole, it had
received some "potentially-viable proposals" for certain pools of
assets.  The WSJ report notes Mr. Rayburn declined on CNBC to name
any specific bidders, but said competitors could bid.

WSJ's Deal Journal says other baking companies and liquidators may
bid for Hostess' assets.  Deal Journal has come up with a list of
potential bidders:

     1. Flowers Foods Inc.

According to Deal Journal, SunTrust analyst Bill Chappell says
Hostess' rival may be interested in scooping up bakeries from the
liquidation in areas it has little presence, but may not want the
brands.  "They see an opportunity to gain market share just by the
turbulence," Mr. Chappell said, though he said they wouldn't turn
down the assets if the price was particularly cheap.  "It's a
great brand, it's just what it goes for" that's the question.  A
spokesman for Flowers Foods wasn't immediately available for
comment Friday.

     2. Grupo Bimbo

According to Deal Journal, Grupo Bimbo, one of the world's largest
baking companies, could also be in the market for more
infrastructure or brands.

     3. Pepperidge Farm

     4. Hilco Consumer Capital

     5. Gordon Brothers Group

     6. Great American Group WF LLC

According to Deal Journal, Great American has been looking at the
assets and is interested in striking a deal, however it can
achieve one, said Mark Weitz, president of the industrial group.
He said Great American would consider, among other parts, buying
real estate or brands from Hostess, but said it was very early in
the process.

According to Deal Journal, representatives for Hilco and Gordon
Brothers declined to comment Friday about Hostess.

                       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.


HOSTESS BRANDS: Disclosure Statement Hearing Suspended Sine Die
---------------------------------------------------------------
Hostess Brands Inc. has filed a notice in Bankruptcy Court
cancelling the Nov. 29 hearing for approval of the disclosure
statement explaining its reorganization plan.  "The Motion and the
approval of the Disclosure Statement is no longer scheduled to be
considered at the Hearing and has been adjourned indefinitely,"
the notice said.

On Oct. 11, Hostess Brands and its five subsidiaries filed their
Joint Plan of Reorganization and related Disclosure Statement
wherein unsecured creditors with more than $2.5 billion in claims
will receive nothing.

Under the Plan, the Debtors will issue almost $700 million in
various levels of new secured debt.  Most will pay interest
through issuance of more debt.  The Debtors will raise $88 million
in cash plus enough to pay off the amount outstanding under the
$75 million loan financing the reorganization that began in
January.

The Plan also provides that holders of $80.4 million of first-lien
debt will receive as much as $59 million in cash plus new first-
lien notes.  Holders of $340.7 million in other first-lien debt
will also be offered new first-lien debt.  In total, there is to
be at least $361.8 million in new first-lien debt on the Company's
emergence from Chapter 11.  For $191.4 million in existing third-
lien debt, holders will receive 75% of the new stock and about
$172 million in new third-lien notes.  The other 25%, plus a $100
million third-lien note, will go to the unions in return for
contract concessions.  Under the Plan, trade suppliers will
receive $5 million in new third-lien debt.  Other unsecured
creditors receive nothing, although the creditors' committee will
retain the right to sue lenders for invalidation of their claims
or liens.

                       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.


HOSTESS BRANDS: To Cancel Retiree Benefits, Wants Panel Appointed
-----------------------------------------------------------------
Hostess Brands Inc. and its debtor affiliates ask the Bankruptcy
Court to direct the appointment of a committee to serve as the
sole "authorized representative" of retired employees of the
Debtors who are entitled to receive "retiree benefits" within the
meaning of section 1114(a) of the Bankruptcy Code and who are not
being represented in the bankruptcy cases by a labor organization
acting as their authorized representative or who are unaffiliated
retirees.

As a consequence of their inability to continue operations in
light of the strikes, the Debtors have determined that they will
be unable to achieve a stand-alone reorganization of their
businesses and, therefore, are pursuing the orderly winddown of
various business operations.   Without any continuing operations
or hope of a successful reorganization, it has now become
necessary for the Debtors to negotiate the termination of retiree
benefits.

As of the Petition Date, the Debtors employed more than 18,000
people, of which roughly 83% are members of unions and were
subject to roughly 360 collective bargaining agreements.  The
Debtors' unionized employees belong to 12 separate unions, but the
overwhelming majority (nearly 93%) are members of either local
affiliates of the International Brotherhood of Teamsters or local
affiliates of the Bakery, Confectionary, Tobacco Workers & Grain
Millers International Union.

The Debtors have been involved in negotiations with the Unions
over modifications to the CBAs since before the Petition Date, and
these negotiations have continued throughout the course of the
bankruptcy cases.

The Debtors sponsor a retiree medical benefit plan, as well as a
post-retirement life and health benefit plan.  For the period of
June 3, 2012 through June 1, 2013, the projected cost to the
Debtors of providing Retiree Benefits to Retirees is $1,130,225.
As of June 2, 2012, the present value of the Debtors' accumulated
benefit obligation for Retiree Benefits, based on an actuarial
calculation prepared in connection with the Debtors' financial
reporting obligations, was $29.3 million.

                       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.


HUDSON PRODUCTS: Moody's Upgrades CFR to 'B2'; Outlook Stable
-------------------------------------------------------------
Moody's Investors Service upgraded Hudson Products Holdings,
Inc.'s corporate family rating to B2 from B3. At the same time,
Moody's rated the company's new senior secured term loan and
revolving credit facilities at B2. The upgrade is largely
reflective of the company's improved credit metrics and leverage
profile following its proposed refinancing, including the exchange
of sponsor held subordinated debt into common stock, as well as
the conversion of existing preferred stock into common stock. In
addition, the upgrade considers anticipated improvement in the
company's operating performance driven by increasing demand in the
company's end markets, which primarily relates to energy markets.
The rating outlook remains stable.

Hudson is benefiting from stronger order trends driven in large
part by wins associated with large US geothermal air-cooled heat
exchanger (ACHE) projects and renewed petrochemical investments,
as well as orders in oil and gas upstream, midstream, Canadian oil
sands, LNG, and power generation. Better operating leverage,
coupled with a moderately improved pricing environment, will
likely result in a continued expansion in margins, earnings and
cash flow leading to a reduction in leverage over the next twelve
to eighteen months.

The following rating of Hudson Products Holdings, Inc. has been
upgraded:

  Corporate family rating (CFR) to B2 from B3;

The following ratings of Hudson Products Holdings, Inc. have been
assigned:

  $30 million senior secured revolver due 2017 at B2 (LGD3, 33%);
  and

  $190 million senior secured term loan due 2017 at B2 (LGD3,
  33%).

The following ratings of Hudson Products Holdings, Inc. have been
affirmed:

  Probability of default rating at B3

The following ratings of Hudson Products Holdings, Inc. will be
withdrawn upon the close of this transaction:

  $30 million senior secured revolver due 2015 at B2 (LGD3, 33%);
  and

  $220 million senior secured term loan due 2015 at B2 (LGD3,
  33%).

The rating outlook is stable

Ratings Rationale

The B2 rating reflects Hudson's improved, albeit still elevated,
leverage profile post-refinancing, high geographic revenue
concentration in North America, and its exposure to meaningful
fluctuations in operating performance due to its reliance on the
capital spending of customers in North American oil & gas, power
and petrochemical industries. The rating also considers the
company's strong market positioning in both of its key product
areas, ACHEs and fans. The highly engineered nature of its ACHE
and fan products combined with meaningful aftermarket sales has
enabled Hudson to maintain solid margins through the recent
downturn. Moody's expects the company to grow its revenues and
EBITDA during the next 12 to 18 months while maintaining a healthy
backlog, which Moody's views as a proxy for the demand of the
company's products.

The stable rating outlook assumes Hudson will continue to grow its
backlog and be successful in converting backlog into earnings at
improving margin levels. Further, the stable outlook anticipates
the company will generate modest free cash flow during the next
twelve months.

The ratings are not expected to be upgraded at current debt levels
given the cyclical nature of Hudson's operations and the
relatively small size of the company. However, should the company
broaden its product portfolio and if it can maintain leverage
below 4.0 times through the cycle, the ratings could be upgraded.

The ratings could be downgraded if order trends meaningfully
deteriorate, which would lead to deterioration in earnings and
operating margins. In addition, if liquidity deteriorates due to
Hudson's inability to generate free cash flow or maintain adequate
covenant cushion, the ratings could come under pressure.

The principal methodology used in rating Hudson Products was the
Global Manufacturing Industry Methodology published in December
2010. Other methodologies used include Loss Given Default for
Speculative-Grade Non-Financial Companies in the U.S., Canada and
EMEA published in June 2009.

Hudson Products Corporation, headquartered in Beasley, TX, is one
of the world's leading heat transfer solutions companies providing
air-cooled heat exchangers (ACHEs), axial-flow fans and related
aftermarket hardware and support predominantly to North American
oil & gas, power and petrochemical end-markets. Hudson was
purchased by Riverstone Holdings LLC (the Sponsor) in 2008 from
the prior sponsor. Upon completion of this transaction, the
Sponsor will have converted all of its subordinated debt and
preferred equity into common equity. Hudson generated revenues in
excess of $200 million for the twelve month period ended September
30, 2012.


IB&B LLC: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: IB&B, LLC
        P.O. Box 1039
        Crown Point, IN 46308

Bankruptcy Case No.: 12-24275

Chapter 11 Petition Date: November 14, 2012

Court: United States Bankruptcy Court
       Northern District of Indiana (Hammond Division)

Judge: J. Philip Klingeberger

Debtor's Counsel: Henry A. Efroymson, Esq.
                  ICE MILLER
                  One American Square, Suite 3100
                  Indianapolis, IN 46282-0200
                  Tel: (317) 236-2100
                  Fax: (317) 236-2219
                  E-mail: henry.efroymson@icemiller.com

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

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

A copy of the Company's list of its 20 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/innb12-24275.pdf

The petition was signed by Jean Kress, member.


ICEWEB INC: Directors Provide $1.5 Million to Support Expansion
---------------------------------------------------------------
IceWEB Inc.'s Board of Directors has provided the Company with a
$1.5 million line of credit to allow for the continued execution
of its new strategic initiatives, which to date, are garnering
results.

Hal Compton, Chairman of the Board of Directors, said, "The Board
feels very positive about the job Rob Howe has done in such a
short period of time, and we have taken this action to provide him
with the resources he needs to continue to grow and expand the
company."

Rob Howe, CEO added, "Our Board has clearly demonstrated its
support for and optimism about the company in providing this $1.5
million line."  "It is important for our shareholders to
understand that this financing does not trigger any dilution,
ratchets or participation rights, and as a result, our
shareholders do not experience any negative effects from this
financing," Howe said.

Details of the transaction are available for free at:

                        http://is.gd/6xHT3C

                         About IceWEB Inc.

Sterling, Va.-based IceWEB, Inc., manufactures high performance
unified data storage appliances with enterprise storage management
capabilities.

The Company's balance sheet at June 30, 2012, showed $3.1 million
in total assets, $7.9 million in total liabilities, and a
stockholders' deficit of $4.8 million.

Sherb & Co., LLP, in Boca Raton, Florida, stated in its report
on the consolidated financial statements of the Company for the
years ended Sept. 30, 2011, and 2010, that the Company had net
losses of $4.7 million and $7.0 million respectively, for the
years ended Sept. 30, 2011, and 2010, which raise substantial
doubt about the Company's ability to continue as a going concern.


IMH FINANCIAL: Incurs $8.2 Million Net Loss in Third Quarter
------------------------------------------------------------
IMH Financial Corporation filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $8.18 million on $1.05 million of total revenue for
the three months ended Sept. 30, 2012, compared with a net loss of
$12.95 million on $948,000 of total revenue for the same period
during the prior year.

The Company reported a net loss of $22.22 million on $3.62 million
of total revenue for the nine months ended Sept. 30, 2012,
compared with a net loss of $25.24 million on $2.85 million of
total revenue for the same period a year ago.

The Company reported a net loss of $35.19 million in 2011, a net
loss of $117.04 million in 2010, and a net loss of $74.47 million
in 2009.

The Company's balance sheet at Sept. 30, 2012, showed $228.93
million in total assets, $86.63 million in total liabilities and
$142.30 million in total stockholders' equity.

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

                        http://is.gd/Q15CxV

                        About IMH Financial

Scottsdale, Ariz.-based IMH Financial Corporation was formed from
the conversion of IMH Secured Loan Fund, LLC, or the Fund, a
Delaware limited liability company, on June 18, 2010.  The
conversion was effected following a consent solicitation process
pursuant to which approval was obtained from a majority of the
members of the Fund to effect the Conversion Transactions and
involved (i) the conversion of the Fund from a Delaware limited
liability company into a Delaware corporation named IMH Financial
Corporation, and (ii) the acquisition by the Company of all of the
outstanding shares of the manager of the Fund Investors Mortgage
Holdings Inc., or the Manager, as well as all of the outstanding
membership interests of a related entity, IMH Holdings LLC, or
Holdings on June 18, 2010.

The Company is a commercial real estate lender based in the
southwest United States with over 12 years of experience in many
facets of the real estate investment process, including
origination, underwriting, documentation, servicing, construction,
enforcement, development, marketing, and disposition.  The Company
focuses on a niche segment of the real estate market that it
believes is underserved by community, regional and national banks:
high yield, short-term, senior secured real estate mortgage loans.
The intense level of underwriting analysis required in this
segment necessitates personnel and expertise that many community
banks lack, yet the requisite localized market knowledge of the
underwriting process and the size of the loans the Company seeks
often precludes the regional and community banks from efficiently
entering this market.


INNOVATION VENTURE: Moody's Says Recent FDA Reports Credit Neg.
---------------------------------------------------------------
Moody's Investors Service said that recent news reports that US
Food and Drug Administration (FDA) has received adverse event
reports linked to Innovation Venture's 5-Hour Energy are a credit
negative for the company, although the B2 rating is unchanged.
There is no evidence that 5-Hour Energy -- the leading energy shot
brand in the U.S. -- is linked to any deaths or hospitalizations,
but the increasing scrutiny on the energy drink industry and the
negative publicity associated with such news, could dampen the
growth rates or the performance of the company which would be a
credit negative.

Moody's notes that absent any proof of the product being linked to
negative health effects, or dramatic underperformance due to the
negative publicity, the B2 rating and stable outlook will likely
be maintained. The rating already considers material weaknesses
that include: a limited operating history, high business risk and
susceptibility to reputational risk, narrow product offerings and
an unproven product innovation track record. It also incorporates
weak corporate governance and uncertainty concerning use of
proceeds from its recent financing for future growth. For these
reasons, the rating is relatively low, despite the company's
strong growth rate through 2011, strong profit margins and cash
flow (before dividends), popular product offering, leading market
share (although in a narrow category) and very modest financial
leverage at closing with Debt to EBITDA of under 2 times.

The principal methodology used in rating Innovation Ventures was
the Global Soft Beverage Industry Methodology published in
December 2009.

Innovation Ventures, LLC, headquartered in Farmington Hills, MI is
the manufacturer of 5-hour ENERGY(R), the leading energy shot
brand in the United States. Reported 2011 net sales were
approximately $604 million.


JACKSONVILLE BANCORP: Incurs $10.7-Mil. Net Loss in 3rd Quarter
---------------------------------------------------------------
Jacksonville Bancorp, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $10.68 million on $6.64 million of total interest
income for the three months ended Sept. 30, 2012, compared with
net income of $1.29 million on $7.75 million of total interest
income for the same period during the preceding year.

The Company reported a net loss of $21.21 million on $19.78
million of total interest income for the nine months ended
Sept. 30, 2012, compared with net income of $2.78 million on
$23.59 million of total interest income for the same period a year
ago.

Jacksonville's balance sheet at Sept. 30, 2012, showed $551.55
million in total assets, $537.97 million in total liabilities and
$13.57 million in total shareholders' equity.

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

                        http://is.gd/2OQvwT

                     About Jacksonville Bancorp

Jacksonville Bancorp, Inc., a bank holding company, is the parent
of The Jacksonville Bank, a Florida state-chartered bank focusing
on the Northeast Florida market with approximately $583 million in
assets and eight full-service branches in Jacksonville, Duval
County, Florida, as well as the Company's virtual branch.  The
Jacksonville Bank opened for business on May 28, 1999 and provides
a variety of community banking services to businesses and
individuals in Jacksonville, Florida.

According to the Form 10-Q for the period ended June 30, 2012, the
Bank was adequately capitalized at June 30, 2012.  Depository
institutions that are no longer "well capitalized" for bank
regulatory purposes must receive a waiver from the FDIC prior to
accepting or renewing brokered deposits.  The Federal Deposit
Insurance Corporation Improvement Act of 1991 ("FDICIA") generally
prohibits a depository institution from making any capital
distribution (including paying dividends) or paying any management
fee to its holding company, if the depository institution would
thereafter be undercapitalized.

The Bank had a Memorandum of Understanding ("MoU") with the FDIC
and the Florida Office of Financial Regulation that was entered
into in 2008, which required the Bank to have a total risk-based
capital of at least 10% and a Tier 1 leverage capital ratio of at
least 8%.  Recently, on July 13, 2012, the 2008 MoU was replaced
by a new MoU, which, among other things, requires the Bank to have
a total risk-based capital of at least 12% and a Tier 1 leverage
capital ratio of at least 8%.  "We did not meet the minimum
capital requirements of these MOUs at June 30, 2012, and Dec. 31,
2011, when the Bank had total risk-based capital of 8.09% and
9.85% and Tier 1 leverage capital of 5.26% and 6.88%,
respectively."


JAMES RIVER: S&P Hikes CCR to 'CCC' on Completed Debt Repurchases
-----------------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on Richmond, Va.-based James River Coal Co. to 'CCC' from
'SD' (selective default). The outlook is negative.

"At the same time, we raised our issue rating on the company's
7.875% senior notes due 2019 to 'CCC+' (one notch above the
corporate credit rating) from 'D'. The recovery rating on these
notes remains '2', indicating our expectation for substantial
(70%-90%) recovery in the event of payment default. We also raised
our issue-level rating on the company's 4.5% and 3.125%
convertible notes to 'CC' (two notches below the corporate credit
rating) from 'D'. The recovery rating on these notes remains '6',
indicating our expectation for negligible (0%-10%) recovery in the
event of payment default," S&P said.

"We raised our rating on James River Coal because we understand
that the company has stopped repurchasing its debt at deep
discounts, for the time being," said credit analyst Megan
Johnston. "On Nov. 7, we lowered our corporate credit rating on
James River to 'SD' and lowered our rating on the company's notes
to 'D' because we considered the discounted repurchase of $61
million of debt to be tantamount to default. Still, we view the
company's debt burden to be unsustainable in the long term, and we
recognize the potential for additional distressed exchanges or
redemptions in the next 12 months."

"The negative outlook reflects our view that although the
company's liquidity is likely to remain sufficient to cover its
financial obligations over the near term, liquidity could become
strained barring an improvement in shipments and pricing in 2013.
It also takes into account the extremely difficult operating
environment for James River Coal as a relatively high-cost
producer in the CAPP basin and our expectations the company will
burn cash and post debt-to-EBITDA of 7x or higher in 2012 and
2013," S&P said.


JONES SODA: Incurs $324,000 Net Loss in Third Quarter
-----------------------------------------------------
Jones Soda Co. filed its quarterly report on Form 10-Q, reporting
a net loss of $324,000 on $4.2 million of revenue for the three
months ended Sept. 30, 2012, compared with a net loss of
$1.7 million on $5.0 million of revenue for the same period last
year.

For the nine months ended Sept. 30, 2012, the Company had a net
loss of $2.5 million on $13.3 million of revenue, compared with a
net loss of $5.2 million on $14.0 million of revenue for the same
period in 2011.

The Company's balance sheet at Sept. 30, 2012, showed $8.0 million
in total assets, $2.8 million in total liabilities, and
stockholders' equity of $5.2 million.

A copy of the Form 10-Q is available at http://is.gd/Oh2PL2

Seattle, Washington-based Jones Soda Co. develops, produces,
markets and distributes premium beverages.

                          *     *     *

As reported in the TCR on April 5, 2012, Peterson Sullivan LLP, in
Seattle, Washington, expressed substantial doubt about Jones
Soda's ability to continue as a going concern.  The independent
auditors noted that the Company has experienced recurring losses
from operations and negative cash flows from operating activities.


JORDANELLE HOLDINGS: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: Jordanelle Holdings, LLC
        758 East Utah Valley Drive, Suite 100
        American Fork, UT 84003

Bankruptcy Case No.: 12-34291

Chapter 11 Petition Date: November 12, 2012

Court: United States Bankruptcy Court
       District of Utah (Salt Lake City)

Judge: William T. Thurman

Debtor's Counsel: Michael R. Johnson, Esq.
                  RAY QUINNEY & NEBEKER P.C.
                  36 South State Street, Suite 1400
                  P.O. Box 45385
                  Salt Lake City, UT 84145-0385
                  Tel: (801) 532-1500
                  Fax: (801) 532-7543
                  E-mail: mjohnson@rqn.com

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

Estimated Debts: $10,000,001 to $50,000,000

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

The petition was signed by Bradford D. Myler, manager.


KENT LINDEMUTH: Blames Economic Downturn for Bankruptcy Filing
--------------------------------------------------------------
The Capital-Journal reports that Kent Lindemuth has filed for
bankruptcy protection amid threats of foreclosure of some of his
properties.  The collective debt on his approximately 175
properties is estimated at $45 million.

The report notes Mr. Lindemuth's wife, Vikki, is listed as a joint
debtor.

According to the report, the Lindemuths filed for individual
bankruptcy protection as the owners of five companies currently in
financial straits -- Bellairre Shopping Center Inc., K. Douglas
Inc., KDL Inc., Lindemuth Inc. and Lindy's Inc. The couple filed
to have the bankruptcy cases combined to avoid repetitious
hearings.

"The plan is to reorganize the group and emerge from bankruptcy,"
the report quotes Ben Swinnen, who serves as one of the
Lindemuths' attorneys and is answering questions for the family.
"They're not running away. They filed Chapter 11 to have the
benefit of reorganization in the bankruptcy setting."

The report says Mr. Lindemuths said the main reason behind the
filing was the economic downturn, which has forced creditors to
"take action."  All pending litigation against the Lindemuths has
been put on hold in accordance with bankruptcy code, Mr. Swinnen
said.

The report, citing court documents, says the Lindemuths own about
175 properties, most of which are in Topeka.  Many are retail
establishments and shopping centers.  Among the Lindemuths'
holdings are portions of the Villa West Shopping Center, 6020 S.W.
29th, of the Gage Center Mall, 4117 S.W. Huntoon, and of the White
Lakes Center, 3600 S.W. Topeka Blvd.

According to the report, documents show the Lindemuths' properties
owe about $45 million in debt.  The couple also owe income and
real estate taxes.  The Lindemuths owe money to about 17 lenders
and have been unable to work out refinancing arrangements with
some of them.

The report says, as a result, certain lenders have threatened
"imminent intent to foreclose on properties.  This potential
collection and foreclosure actions are the immediate impetus for
the bankruptcy filings."

The report adds the Lindemuths retained an Overland Park law firm,
Lentz Clark Deines, PA, on June 18 to help with the bankruptcy
proceeding.  The couple paid a $25,000 retaining fee and since has
paid another $11,623.50.


KMP HOLDINGS: Case Summary & 15 Unsecured Creditors
---------------------------------------------------
Debtor: KMP Holdings, LLC
        11 Boland Dr.
        South Barrington, IL 60010

Bankruptcy Case No.: 12-44860

Chapter 11 Petition Date: November 12, 2012

Court: United States Bankruptcy Court
       Northern District of Illinois (Chicago)

Judge: Jacqueline P. Cox

Debtor's Counsel: Paul M. Bach, Esq.
                  BACH LAW OFFICES
                  P.O. Box 1285
                  Northbrook, IL 60065
                  Tel: (847) 564-0808
                  Fax: (847) 564-0985
                  E-mail: paul@bachoffices.com

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

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

A copy of the Company's list of its 15 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/ilnb12-44860.pdf

The petition was signed by KunjbalaParikh, manager.


LANYARD HOLDINGS: Case Summary & 4 Unsecured Creditors
------------------------------------------------------
Debtor: Lanyard Holdings, LLC
        1000 Towne Center Boulevard, #706
        Pooler, GA 31322

Bankruptcy Case No.: 12-42227

Chapter 11 Petition Date: November 13, 2012

Court: U.S. Bankruptcy Court
       Southern District of Georgia (Savannah)

Debtor's Counsel: C. James McCallar, Jr., Esq.
                  MCCALLAR LAW FIRM
                  P.O. Box 9026
                  Savannah, GA 31412
                  Tel: (912) 234-1215
                  Fax: (912) 236-7549
                  E-mail: mccallar@mccallarlawfirm.com

Scheduled Assets: $2,305,000

Scheduled Liabilities: $1,906,918

A copy of the Company's list of its four unsecured creditors is
available for free at http://bankrupt.com/misc/gasb12-42227.pdf

The petition was signed by Robert W. Lee, managing member.


LARRY MILLER: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Larry Miller Roofing, Inc.
        520 Fountain Parkway
        Grand Prairie, TX 75050

Bankruptcy Case No.: 12-46303

Chapter 11 Petition Date: November 12, 2012

Court: United States Bankruptcy Court
       Northern District of Texas (Ft. Worth)

Judge: Russell F. Nelms

Debtor's Counsel: Susan B. Hersh, Esq.
                  SUSAN B. HERSH, P.C.
                  12770 Coit Road, Suite 1100
                  Dallas, TX 75251
                  Tel: (972) 503-7070
                  E-mail: susan@susanbhershpc.com

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

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

A copy of the Company's list of its 20 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/txnb12-46303.pdf

The petition was signed by Larry Miller, president.


LEHMAN BROTHERS: European Unit to Pay GBP1.75-Bil. to Creditors
---------------------------------------------------------------
The administrators of Lehman Brothers International Europe are
paying out GBP1.75 billion in the first dividend to its unsecured
creditors on their total GBP7 billion claim at the end of
November, Financial Times reported.

The payment was made possible after Lehman Brothers Holdings Inc.
agreed with their European unit to settle $38 billion of claims.
About 1,582 claimants who have agreed to the claims offer will
receive payment.

"The payment of this significant dividend to such a large number
of LBIE unsecured creditors is an important milestone for the
administration," Financial Times quoted Tony Lomas, lead
administrator of Lehman's European operations, as saying.

Another 689 unsecured creditors have yet to agree to the claims
offer, according to the report.

PricewaterhouseCoopers, joint administrator of LBIE, said the
administrators intended to pay a "catch up" dividend in February
2013 to unsecured creditors whose claims are admitted until
January 31, 2013.

PwC has previously warned that it could take two decades to
reconcile creditors with the assets that remain at Lehman's
European operations.  It has estimated the claims to be in a
range of GBP15 billion to GBP54.6 billion, a large mismatch to
the GBP8.1 billion to GBP14.2 billion in available funds for
distribution.

                       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.  The Chapter 11 plan for the Lehman companies other than
the broker was confirmed in December 2011.

Lehman made its first payment of $22.5 billion to creditors in
April 2012 and a second payment of $10.2 billion on Oct. 1.  A
third distribution is set for around March 30, 2013.  The
brokerage is yet to make a first distribution to non-customers.

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)


LEHMAN BROTHERS: Trustee Proposes Closing Agreements With IRS
-------------------------------------------------------------
The trustee liquidating Lehman Brothers Holdings Inc.'s brokerage
asked the U.S. Bankruptcy Court in Manhattan to approve two
agreements with the commissioner of the Internal Revenue Service.

The agreements call for the settlement of the agency's potential
claims against the brokerage and other members of Lehman's
consolidated group for not complying with the listing and
reporting requirements of the Internal Revenue Code.  Preliminary
estimates placed the agency's potential claims at an aggregate
amount of up to $90 million.

The IRS is currently investigating potential claims against the
Lehman units and is collecting information from the Lehman
trustee regarding original issue discount bond transactions and
various other purported tax shelter transactions.

The first agreement related to the OID bond transactions grants
IRS an allowed unsecured general claim in the sum of $340,385
against the brokerage.  The second agreement related to the other
tax shelter transactions grants the agency an unsecured general
claim in the sum of $7,045,788.

The agency won't be entitled to any additional amounts from the
brokerage related to those transactions, according to the
proposed agreements.

A court hearing is scheduled for December 12.  Objections are due
by November 26.

                       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.  The Chapter 11 plan for the Lehman companies other than
the broker was confirmed in December 2011.

Lehman made its first payment of $22.5 billion to creditors in
April 2012 and a second payment of $10.2 billion on Oct. 1.  A
third distribution is set for around March 30, 2013.  The
brokerage is yet to make a first distribution to non-customers.

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)


LEHMAN BROTHERS: 36th Status Report on Claims Settlement
--------------------------------------------------------
Weil Gotshal & Manges LLP, Lehman Brothers Holdings Inc.'s legal
counsel, filed the Debtor's 36th status report on the settlement
of claims it negotiated through the alternative dispute resolution
process.

The status report noted that Lehman served 10 ADR notices,
bringing the total number of notices served to 274.

Lehman also reached settlement with counterparties in two
additional ADR matters, both as a result of mediation.  Upon
closing of those settlements, the company will recover a total of
$1,334,357,056.  Settlements have now been reached in 232 ADR
matters involving 257 counterparties.

As of November 12, 88 of the 93 ADR matters that reached the
mediation stage and concluded were settled through mediation.
Only five mediations were terminated without settlement.

Eight more mediations are scheduled to be conducted for the
period November 19, 2012 to January 31, 2013.

                       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.  The Chapter 11 plan for the Lehman companies other than
the broker was confirmed in December 2011.

Lehman made its first payment of $22.5 billion to creditors in
April 2012 and a second payment of $10.2 billion on Oct. 1.  A
third distribution is set for around March 30, 2013.  The
brokerage is yet to make a first distribution to non-customers.

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)


LEHMAN BROTHERS: Wins Approval of LB Finance Settlement
-------------------------------------------------------
The trustee liquidating Lehman Brothers Holdings Inc.'s brokerage
obtained a court order approving a settlement of Lehman Brothers
Finance AG's $6 billion in bankruptcy claims.

Pursuant to the court order, Lehman Brothers Finance will have an
allowed customer claim in the sum of $189.924 million, and an
unsecured non-priority general claim in the sum of $360 million
against the brokerage.

The allowed claims are less than 6% of the potential customer
claim and less than 10% of Lehman Brothers Finance's total
claims.  Lehman Brothers Finance's claims are among the largest
filed in the brokerage's liquidation case.

                       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.  The Chapter 11 plan for the Lehman companies other than
the broker was confirmed in December 2011.

Lehman made its first payment of $22.5 billion to creditors in
April 2012 and a second payment of $10.2 billion on Oct. 1.  A
third distribution is set for around March 30, 2013.  The
brokerage is yet to make a first distribution to non-customers.

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)


LEHMAN BROTHERS: Judge Backs $158-Mil. in Professional Fees
-----------------------------------------------------------
Judge James Peck approved about $158 million in lawyers' and
other fees in Lehman Brothers Holding s Inc.'s bankruptcy case,
Reuters reported, citing a lawyer for Lehman's fee committee.

The bankruptcy judge allowed the fees at a hearing on Wednesday,
which covered $157.86 million split between 25 law firms and
other professionals.  That included about $80 million to Lehman's
turnaround manager Alvarez & Marsal LLC, and about $40 million to
Houlihan Lokey Howard & Zukin Capital Inc., financial adviser to
Lehman's creditors' committee.

Katherine Stadler, the fee committee's lawyer, said total fees in
the case are about $1.8 billion, though only about another $985
million is subject to court approval.

That portion, slated to be heard at the November 29 hearing,
includes two of the highest earners in the case: Weil Gotshal &
Manges LLP and Milbank Tweed Hadley & McCloy LLP, counsel to
Lehman and the creditors' committee, respectively.  The law firms
remain at odds with the fee committee over aspects of their fee
applications, Reuters reported.

In a related development, the fee committee filed a summary
report recommending court approval for $157,863,128 in fees and
$2,040,563 in expenses as requested in the final fee applications
of 25 Lehman professionals.  The summary report is available
without charge at http://bankrupt.com/misc/LBHI_FeeComm25BPs.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.  The Chapter 11 plan for the Lehman companies other than
the broker was confirmed in December 2011.

Lehman made its first payment of $22.5 billion to creditors in
April 2012 and a second payment of $10.2 billion on Oct. 1.  A
third distribution is set for around March 30, 2013.  The
brokerage is yet to make a first distribution to non-customers.

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)


LEHMAN BROTHERS: Man Group Sells Claims to Baupost for $456-Mil.
----------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
relates that hedge fund Man Group Plc sold its claims against
Lehman Brothers Holdings Inc. to an affiliate of Baupost Group LLC
for $456 million.

Meanwhile, the liquidators for Lehman's Australian subsidiary will
meet in December with a group of noteholders, leaving open the
possibility of making a distribution this year on AU$250 million
($259 million) in claims.

                       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.  The Chapter 11 plan for the Lehman companies other than
the broker was confirmed in December 2011.

Lehman made its first payment of $22.5 billion to creditors in
April 2012 and a second payment of $10.2 billion on Oct. 1.  A
third distribution is set for around March 30, 2013.  The
brokerage is yet to make a first distribution to non-customers.

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)


LENCO MOBILE: Reports $2.9-Mil. Net Loss in Third Quarter
---------------------------------------------------------
Lenco Mobile Inc. filed its quarterly report on Form 10-Q,
reporting a net loss of $2.9 million on $4.2 million of revenue
for the three months ended Sept. 30, 2012, compared with a net
loss of $32.4 million on $2.8 million of revenue for the same
period last year.

The Company reported a net loss of $7.3 million on $12.5 million
of revenue for the nine months ended Sept. 30, 2012, compared with
a net loss of $27.2 million on $7.2 million of revenue for the
same period of 2011.

The Company's balance sheet at Sept. 30, 2012, showed
$36.2 million in total assets, $20.7 million in total liabilities,
and stockholders' equity of $15.5 million.

A copy of the Form 10-Q for the three months ended Sept. 30, 2012,
is available at http://is.gd/ZQ1fXP

The Company reported a net loss of $2.3 million on $4.2 million of
revenue for the three months ended June 30, 2012, compared with
net income of $9.7 million on $2.1 million of revenue for the same
period last year.

The Company reported a net loss of $4.4 million on $8.3 million of
revenue for the six months ended June 30, 2012, compared with net
income of $5.5 million on $4.4 million of revenue for the same
period of 2011.

The Company's balance sheet at June 30, 2012, showed $35.6 million
in total assets, $18.5 million in total liabilities, and
stockholders' equity of $17.1 million.

A copy of the Form 10-Q for the three months ended June 30, 2012,
is available at http://is.gd/q60HNq

Seattle, Washington-based Lenco Mobile Inc. is a global provider
of proprietary mobile messaging and mobile web solutions to large
enterprises and marketing agencies.  Historically its core
operations have been conducted in South Africa through its
subsidiary Capital Supreme (Pty) Ltd.  In December 2011, it
acquired iLoop Mobile Inc., a U.S. based mobile marketing platform
and services provider.

                           *     *     *

As reported in the TCR on July 5, 2012, Peterson Sullivan LLP, in
Seattle, Washington, expressed substantial doubt about Lenco
Mobile's ability to continue as a going concern, following its
auditor of the Company's financial statements for the fiscal year
ended Dec. 31, 2011.  The independent auditors noted that the
Company has experienced recurring losses from operations and
negative cash flows from operating activities.


LIFECARE HOLDINGS: Incurs $97.5 Million Net Loss in 3rd Quarter
---------------------------------------------------------------
Lifecare Holdings, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $97.50 million on $119.84 million of net patient
service revenue for the three months ended Sept. 30, 2012,
compared with a net loss of $13.31 million on $102.59 million of
net patient service revenue for the same period during the prior
year.

For the nine months ended Sept. 30, 2012, the Company reported a
net loss of $107.41 million on $367.23 million of net patient
service revenue, compared with a net loss of $21.55 million on
$293.51 million of net patient service revenue for the same period
a year ago.

The Company reported a net loss of $34.83 million in 2011,
compared with net income of $2.63 million on $358.25 million in
2010.

The Company's balance sheet at Sept. 30, 2012, showed $422.15
million in total assets, $575.87 million in total liabilities and
$153.72 million total stockholders' deficit.

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

                       http://is.gd/kH8I6A

                     About LifeCare Holdings

Plano, Tex.-based LifeCare Holdings, Inc. --
http://www.lifecare-hospitals.com/-- operates 19 hospitals
located in nine states, consisting of eight "hospital within a
hospital" facilities (27% of beds) and 11 freestanding facilities
(73% of beds).  Through these 19 long-term acute care hospitals,
the Company operates a total of 1,057 licensed beds and employ
approximately 3,200 people, the majority of whom are registered or
licensed nurses and respiratory therapists.  Additionally, the
Company holds a 50% investment in a joint venture for a 51-bed
LTAC hospital located in Muskegon, Michigan.

                        Bankruptcy Warning

"We are continuing to work with our financial advisor and lenders
under our senior secured credit facility and senior subordinated
notes to develop a comprehensive strategy that will allow us to
refinance or restructure our existing capital structure prior to
the acceleration of any indebtedness," the Company said in its
quarterly report for the period ended June 30, 2012.  "There can
be no assurance, however, that any of these efforts will prove
successful or be on economically reasonable terms.  In the event
of a failure to obtain necessary waivers or forbearance agreements
or otherwise achieve a restructuring of our financial obligations,
we may be forced to seek reorganization under Chapter 11 of the
United States Bankruptcy Code."

                          *     *     *

In November 2010, Standard & Poor's Ratings lowered its corporate
credit rating on LifeCare Holdings to 'CCC-' from 'CCC+'.  "The
downgrade reflects the imminent difficulty the company may
have in meeting its bank covenant requirements and the risk of it
successfully refinancing significant debt maturing in 2011 and
2012," said Standard & Poor's credit analyst David Peknay.  The
likelihood of a debt covenant violation is heightened by the
company's lack of appreciable operating improvement coupled with a
large upcoming tightening of is debt covenant in the first quarter
of 2011.  Additional equity by the company's financial sponsor may
be necessary to avoid a covenant violation.  Accordingly, S&P
believes the chances of bankruptcy have increased.

As reported by the TCR on Aug. 23, 2012, Standard & Poor's Ratings
Services lowered its corporate credit rating on Plano Texas-based
LifeCare Holdings Inc to 'D' from 'CCC-', following the missed
interest payment on the company's $119.3 million senior
subordinated notes.

In the June 6, 2012, edition of the TCR, Moody's downgraded
LifeCare Holdings, Inc.'s corporate family rating to Caa3 and
probability of default rating to Ca.  The downgrade of the
corporate family rating to Caa3 reflects heightened refinancing
risk, an untenable capital structure, and interest burden that is
not covered by cash flows generated from the company's ongoing
operations. Moody's believes LifeCare will need to address its
entire capital structure in the next twelve months which is
reflected in the Ca probability of default rating.

As reported by the TCR on Oct. 5, 2012, Moody's Investors Service
assigned a limited default (LD) designation to LifeCare Holdings,
Inc.'s Ca probability of default rating.  The Caa3 corporate
family rating and C senior subordinated notes rating were
affirmed.

The limited default designation reflects the company's failure to
make the subordinated notes' $5.5 million interest payment due
August 15, 2012, within a 30-day grace period as provided in the
original debt agreement.  Moody's will remove the LD designation
after resolution occurs between LifeCare and its creditors.


LOGOS BAPTIST: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Logos Baptist Assembly
        10833 South Halsted Street
        Chicago, IL 60628-3125

Bankruptcy Case No.: 12-44846

Chapter 11 Petition Date: November 12, 2012

Court: United States Bankruptcy Court
       Northern District of Illinois (Chicago)

Judge: Jacqueline P. Cox

Debtor's Counsel: Ernesto D. Borges, Esq.
                  LAW OFFICES OF ERNESTO BORGES
                  105 W Madison Street, 23rd Floor
                  Chicago, IL 60602
                  Tel: (312) 853-0200
                  E-mail: notice@billbusters.com

Estimated Assets: $0 to $50,000

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

A copy of the Company's list of its 20 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/ilnb12-44846.pdf

The petition was signed by Rev. Dr. Donald L. Parson, pastor.


LON MORRIS: To Auction Off Properties on December 13
----------------------------------------------------
Jacksonville Daily Progress reports that Ameribid LLC officials
said Lon Morris College properties will be auctioned off as early
as 11 a.m. Dec. 13, 2012.

The report says AmeriBid LLC officials technically are still
requesting permission from a judge for that date, but it is
expected to be granted.  The auction -- for qualified bidders only
-- will take place at the offices of the law firm McKool Smith,
PC, 300 Crescent Court, 12th floor, in Dallas.

According to the report, upon approval by the U.S. Bankruptcy
Judge, the core of the college's 112-acre campus will be
auctioned, including such unique features as a library, chapel,
administration building, classroom facilities, student center,
dormitories and fields.

The report relates AmeriBid will be providing prospective bidders
with detailed information about the 168-year-old junior college
and its extensive campus.

The report notes Stephen Karbelk, co-chairman and founder of
AmeriBid, said he expects prospective bidders to include other
colleges, churches, denominations, school systems, and other
groups that might wish to use the property as a conference center,
corporate retreat or even residential treatment center.

The report relates the 112-acre college will be offered in
multiple parcels and as an entirety.

The report adds all sales will be consummated through a Chapter 11
Plan confirmed by the Bankruptcy Court, giving the purchaser the
assurances of a federal court order.


MACROSOLVE INC: Incurs $678,000 Net Loss in Third Quarter
---------------------------------------------------------
Macrosolve, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $678,013 on $558,738 of net revenues for the quarter ended
Sept. 30, 2012, compared with a net loss of $614,684 on $432,095
of net revenues for the same period during the prior year.

The Company reported a net loss of $2.16 million on $1.98 million
of net revenues for the nine months ended Sept. 30, 2012, compared
with a net loss of $1.84 million on $767,526 of net revenues for
the same period a year ago.

The Company reported a net loss of $2.53 million in 2011, compared
with a net loss of $1.92 million during the prior year.

The Company's balance sheet at Sept. 30, 2012, showed
$1.74 million in total assets, $1.67 million in total liabilities
and $64,807 in total stockholders' equity.

"We successfully completed a smooth transition of Illume Mobile's
workforce to DecisionPoint, preserving nineteen Tulsa-based jobs,
while shedding significant operating expenses, overhead and
negative cash flow in the process," stated MacroSolve Executive
Vice President and CFO, Kendall Carpenter.  "MacroSolve's
executives are focused on increasing shareholder value by growing
the high margin licensing and royalty side of our business while
executing a new strategy of providing executive leadership to
strategically selective ventures in the mobile app space."

In its report on the Company's 2011 financial results, Hood Sutton
Robinson & Freeman CPAs, P.C., in Tulsa, Oklahoma, expressed
substantial doubt about the Company's ability to continue as a
going concern.  The independent auditors noted that the Company
has suffered recurring losses from operations and has a net
capital deficiency.

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

                        http://is.gd/nzQnkD

                       About MacroSolve, Inc.

Tulsa, Okla.-based MacroSolve, Inc. (OTC BB: MCVE)
-- http://www.macrosolve.com/-- is a technology and services
company that develops mobile solutions for businesses and
government.  A mobile solution is typically the combination of
mobile handheld devices, wireless connectivity, and software that
streamlines business operations resulting in improved efficiencies
and cost savings.


MARMOTECH INC: Case Summary & 11 Unsecured Creditors
----------------------------------------------------
Debtor: Marmotech, Inc.
        P.O. Box 7886, Suite 422
        Guaynabo, PR 00970

Bankruptcy Case No.: 12-09071

Chapter 11 Petition Date: November 13, 2012

Court: U.S. Bankruptcy Court
       District of Puerto Rico (Old San Juan)

Judge: Enrique S. Lamoutte

Debtor's Counsel: Antonio I. Hernandez Rodriguez, Esq.
                  HERNANDEZ LAW OFFICE
                  P.O. Box 8509
                  San Juan, PR 00910-0509
                  Tel: (787) 250-0575
                  E-mail: ahernandezlaw@yahoo.com

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

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

A copy of the Company's list of its 11 unsecured creditors filed
with the petition is available for free at:
http://bankrupt.com/misc/prb12-09071.pdf

The petition was signed by Maximino Diaz Delgado, president.


MECH PROPERTIES: Case Summary & 5 Unsecured Creditors
-----------------------------------------------------
Debtor: MECH Properties, LLC
        3210 Peninsula Circle
        Hampton Cove, AL 35763

Bankruptcy Case No.: 12-83661

Chapter 11 Petition Date: November 14, 2012

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

Judge: Jack Caddell

Debtor's Counsel: S Mitchell Howie, Esq.
                  107 North Side Square
                  Huntsville, AL 35801
                  Tel: (256) 533-2400
                  Fax: (256) 533-3488
                  E-mail: mitch@huntsvillelaw.info

Scheduled Assets: $1,214,600

Scheduled Liabilities: $1,249,750

A copy of the Company's list of its five unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/alnb12-83661.pdf

The petition was signed by William C. Lindstrom, managing member.


MERRIMACK PHARMACEUTICALS: Incurs $23-Mil. Net Loss in 3rd Quarter
-------------------------------------------===--------------------
Merrimack Pharmaceuticals, Inc., filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q
disclosing a net loss of $23.32 million on $11.32 million of
collaboration revenues for the three months ended Sept. 30, 2012,
compared with a net loss of $18.72 million on $8.58 million of
collaboration revenues for the same period during the prior year.

For the nine months ended Sept. 30, 2012, the Company reported a
net loss of $66.86 million on $34.73 million of collaboration
revenues, compared with a net loss of $61.45 million on $21.63
million of collaboration revenues for the same period during the
prior year.

The Company's balance sheet at Sept. 30, 2012, showed $123.21
million in total assets, $110.19 million in total liabilities,
$222,000 in non-controlling interest, and $12.79 million in total
stockholders' equity.

"This past quarter we hit a key milestone of presenting initial
clinical data on MM-121 and MM-111 in the combination setting
showing that ErbB3 is a promising target," said Robert Mulroy,
President and CEO of Merrimack.  "As we look to the year ahead, we
are excited to continue moving both of these molecules as well as
the rest of our novel pipeline forward in clinical development and
to present the first Phase 2 data on MM-121, the most advanced of
our Network Biology-derived therapeutics."

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

                        http://is.gd/CGCaIY

                          About Merrimack

Cambridge, Mass.-based Merrimack Pharmaceuticals, Inc., a
biopharmaceutical company discovering, developing and preparing to
commercialize innovative medicines consisting of novel
therapeutics paired with companion diagnostics.  The Company's
initial focus is in the field of oncology.  The Company has five
programs in clinical development.  In it most advanced program,
the Company is conducting a pivotal Phase 3 clinical trial.

As reported in the TCR on April 9, 2012, PricewaterhouseCoopers
LLP, in Boston, Massachusetts, expressed substantial doubt about
Merrimack Pharmaceuticals' ability to continue as a going concern,
following the Company's results for the fiscal year ended Dec. 31,
2011.  The independent auditors noted that the Company has
suffered recurring losses from operations and has insufficient
capital resources available as of Dec. 31, 2011, to fund planned
operations through 2012.


MERRIMACK PHARMACEUTICALS: Obtains $40MM Term Loan from Hercules
----------------------------------------------------------------
Merrimack Pharmaceuticals, Inc., entered into a Loan and Security
Agreement with Hercules Technology Growth Capital, Inc., pursuant
to which a term loan of up to an aggregate principal amount of $40
million is available to the Company.  The Loan Agreement provides
for an initial term loan advance of $25 million, which closed on
Nov. 8, 2012, and an additional term loan advance of up to $15
million, which is available at any time through Dec. 15, 2012,
upon the Company's request.

The term loan bears interest at an annual rate equal to the
greater of 10.55% and 10.55% plus the prime rate of interest minus
5.25%, but may not exceed 12.55%.  The Loan Agreement provides for
interest-only payments for 12 months and repayment of the
aggregate outstanding principal balance of the loan in monthly
installments starting on Dec. 1, 2013, and continuing through
May 1, 2016.  If the Company receives aggregate gross proceeds of
at least $75 million in one or more transactions prior to Dec. 1,
2013, including pursuant to a financing or collaboration, the
Company may elect to extend the interest-only period by six months
so that the aggregate outstanding principal balance of the loan
would be repaid in monthly installments starting on June 1, 2014,
and continuing through Nov. 1, 2016.  In addition, the Company
paid a fee of $0.3 million upon closing and is required to pay a
fee of $1.2 million at maturity.  At the Company's option, the
Company may elect to prepay all or any part of the outstanding
term loan without penalty.

In connection with the Loan Agreement, the Company granted
Hercules a security interest in all of the Company's personal
property now owned or hereafter acquired, excluding intellectual
property but including the proceeds from the sale, if any, of
intellectual property, and a negative pledge on intellectual
property.  The Loan Agreement also contains certain
representations, warranties and non-financial covenants of the
Company.  In addition, the Loan Agreement grants Hercules an
option to purchase up to an aggregate of $1.0 million of the
Company's equity securities sold to institutional accredited
investors in a private financing within one year after the closing
of the Loan Agreement upon the same terms and conditions afforded
to such investors.  The Company received net proceeds of $24.7
million from the initial term loan advance on Nov. 8, 2012.

A copy of the Loan and Security Agreement is available at:

                        http://is.gd/theTM2

                          About Merrimack

Cambridge, Mass.-based Merrimack Pharmaceuticals, Inc., a
biopharmaceutical company discovering, developing and preparing to
commercialize innovative medicines consisting of novel
therapeutics paired with companion diagnostics.  The Company's
initial focus is in the field of oncology.  The Company has five
programs in clinical development.  In it most advanced program,
the Company is conducting a pivotal Phase 3 clinical trial.

As reported in the TCR on April 9, 2012, PricewaterhouseCoopers
LLP, in Boston, Massachusetts, expressed substantial doubt about
Merrimack Pharmaceuticals' ability to continue as a going concern,
following the Company's results for the fiscal year ended Dec. 31,
2011.  The independent auditors noted that the Company has
suffered recurring losses from operations and has insufficient
capital resources available as of Dec. 31, 2011, to fund planned
operations through 2012.

The Company's balance sheet at Sept. 30, 2012, showed $123.21
million in total assets, $110.19 million in total liabilities,
$222,000 in non-controlling interest, and $12.79 million in total
stockholders' equity.

The Company reported a net loss of $79.68 million in 2011,
compared with a net loss of $50.16 million in 2010.


MF GLOBAL: Republicans Blame Corzine for Failure
------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
relates that according to a report authored by Republicans on the
U.S. House Financial Services subcommittee, blame for the failure
of MF Global Inc. can be laid on the shoulders of former Chief
Executive Officer Jon S. Corzine.  The panel's report concludes
that Mr. Corzine allowed MF Global to expand into new businesses
without first assuring the profitability of the core commodities
business.

                          About MF Global

New York-based MF Global (NYSE: MF) -- http://www.mfglobal.com/--
was one of the world's leading brokers of commodities and
listed derivatives.  MF Global provided access to more than
70 exchanges around the world.  The firm was 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.

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.

Louis J. Freeh was named the Chapter 11 Trustee for the bankruptcy
cases of MF Global Holdings Ltd. and its affiliates.  The Chapter
11 Trustee tapped (i) Freeh Sporkin & Sullivan LLP, as
investigative counsel; (ii) FTI Consulting Inc., as restructuring
advisors; (iii) Morrison & Foerster LLP, as bankruptcy counsel;
and (iv) Pepper Hamilton as special counsel.

An Official Committee of Unsecured Creditors has been appointed
in the case.  The Committee has retained Capstone Advisory Group
LLC as financial advisor.

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.


MILAGRO OIL: Incurs $21.5-Mil. Net Loss in Third Quarter
--------------------------------------------------------
Milagro Oil & Gas, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $21.5 million on $19.8 million of total
revenues for the three months ended Sept. 30, 2012, compared with
net income of $25.0 million on $58.0 million of total revenues for
the same period a year earlier.

The Company's oil, NGL and natural gas revenues, including
derivatives settlements and unrealized derivative gains, for the
three months ended Sept. 30, 2012, decreased approximately
$38.2 million, or 66%, from approximately $58.0 million to
approximately $19.8 million, when compared to the same period in
2011.

Oil, NGL and natural gas revenues for the three months ended
Sept. 30, 2012, decreased by approximately $2.9 million from
approximately $32.1 million to approximately $29.2 million.  This
decrease related to lower prices of NGL and natural gas of
approximately $4.9 million and lower natural gas production of
approximately $1.5 million, which was partially offset by higher
oil prices of approximately $0.8 million and higher oil and NGL
production which increased revenue by approximately $2.8 million.

The Company's derivative loss was approximately $9.4 million for
the three months ended Sept. 30, 2012, as compared to derivative
revenues of approximately $25.9 million for the prior period.  The
decrease in commodity derivative revenues was due to a decrease in
unrealized gains of approximately $40.5 million due to prices
increases, which was offset by increased gains on settled
contracts of approximately $5.1 million.

For the three months ended Sept. 30, 2012, based on the average
oil and natural gas prices on the first day of each month during
the last twelve months ($2.82 per MMBtu for Henry Hub gas and
$91.48 per Bbl for West Texas Intermediate oil, adjusted for
differentials), the unamortized cost of the Company's oil and
natural gas properties exceeded the ceiling limit and the Company
recorded an impairment of approximately $3.0 million to its oil
and natural gas properties.  An impairment of approximately
$14.6 million was recorded for the nine months ended Sept. 30,
2012, and an impairment of approximately $18.2 million was
recorded for the year ended Dec. 31, 2011.

For the nine months ended Sept. 30, 2012, the Company had a net
loss of $28.3 million on $101.0 million of total revenues,
compared with net income of $5.6 million on $123.9 million of
total revenues for the same period of 2011.

The Company's balance sheet at Sept. 30, 2012, showed
$509.0 million in total assets, $461.3 million in total
liabilities, $235.4 million in Redeemable series A preferred
stock, and a stockholders' deficit of $187.7 million.

                     Going Concern Uncertainty

According to the regulatory filing, the 2011 Credit Facility
contains customary financial and other covenants, including
minimum working capital levels (the ratio of current assets plus
the unused availability of the borrowing base under the 2011
Credit Facility to current liabilities) of not less than 1.0 to
1.0, minimum interest coverage ratio, as defined, of not less than
2.50 to 1.0, maximum leverage ratio, as defined, of debt balances
as compared to EBITDA of not greater than 4.25 to 1.0 and maximum
secured leverage ratio, as defined, of secured debt balances as
compared to EBITDA of not greater than 2.00 to 1.0.  The maximum
leverage ratio will reduce to 4.00 to 1.0 as of March 31, 2013,
and all periods thereafter.

"The Company is currently exploring a range of alternatives to be
in compliance with the financial covenant at the applicable dates.
Unless the Company is able to execute one or more of these
alternatives, the Company's maximum leverage ratio may not meet
the reduced threshold in the covenants beginning on March 31,
2013.  In that event, the Company would have to seek a waiver or
amendment to these agreements and, if not granted, the lenders
could declare a default and the Company will not be able to borrow
additional funds under the facility.  Accordingly, there is
substantial doubt of the Company's ability to continue as a going
concern."

A copy of the Form 10-Q is available at http://is.gd/ITuPx1

Milagro Oil & Gas, Inc., is an independent energy company based in
Houston, Texas that is engaged in the acquisition, development,
exploitation, and production of oil and natural gas.  The
Company's historic geographic focus has been along the onshore
Gulf Coast area, primarily in Texas, Louisiana, and Mississippi.
The Company operates a significant portfolio of oil and natural
gas producing properties and mineral interests in this region and
has expanded its footprint through the acquisition and development
of additional producing or prospective properties in North Texas
and Western Oklahoma.




MONITOR COMPANY: To Lay Off 235 Employees as Part of Bankruptcy
---------------------------------------------------------------
Galen Moore at Boston Business reports that Monitor Group plans to
lay off 235 workers as part of its bankruptcy restructuring, the
consulting firm told the state -- but most of them will be rehired
by Deloitte.

The report relates, in a letter filed with the state, Monitor said
it will "permanently terminate the employment" of its workers at 2
Canal Park in Cambridge, the Boston Globe reports.  "Certain
Monitor employees" will receive offers from Deloitte, according to
the letter.

                    About Monitor Company Group

Monitor Company Group LP -- http://www.monitor.com/-- is a global
consulting firm with 1,200 personnel in offices across 17
countries worldwide.  Founded in 1983 by six entrepreneurs, and
headquartered in Cambridge, Massachusetts, Monitor advises for-
profit, sovereign, and non-profit clients on growing their
businesses and economies and furthering their charitable purposes.

Monitor and several affiliates filed for Chapter 11 bankruptcy
(Bankr. D. Del. Case Nos. 12-13042 to 12-13062) on Nov. 7, 2012.
Judge Hon. Christopher S. Sontchi presides over the case.  Pepper
Hamilton LLP and Ropes & Gray LLP serve as the Debtors' counsel.
The financial advisor is Carl Marks Advisory Group LLC.  Epiq
Bankruptcy Solutions, LLC is the claims and noticing agent.

The petitions were signed by Bansi Nagji, president.

Bank of America is represented in the case by Jinsoo Kim, Esq.,
and Timothy Graulich, Esq., at Davis Polk & Wardwell LLP; and Mark
D. Collins, Esq., at Richards Layton & Finger PA.

J. Gregory Milmoe, Esq., and Shana A. Elberg, Esq., at Skadden
Arps Slate Meagher & Flom LLP in New York; and Mark Chehi, Esq.,
and Christopher DiVirgilio, Esq., at Skadden Arps in Delaware,
represent Deloitte Consulting LLP.

Caltius Partners IV LP; Caltius Partners Executive IV, LP; and CP
IV Pass-Through (Monitor) LP are represented by John Sieger, Esq.,
at Katten Muchin Rosenman LLP.

Monitor's consolidated unaudited financial statements as of
June 30, 2012, which include the assets and liabilities of non-
Debtor foreign subsidiaries, reflected total assets of roughly
$202 million (including $93 million in current assets) and total
liabilities of roughly $200 million.

Monitor filed for bankruptcy to sell substantially all of their
businesses and assets to Deloitte Consulting LLP, a Delaware
registered limited liability partnership and DCSH Limited, a UK
company limited by shares, subject to higher or otherwise better
offers.  The base purchase price set forth in the Stalking Horse
Agreement is $116.2 million, plus (i) assumption of certain
liabilities and (ii) certain cure costs for assumed contracts.
The Stalking Horse Agreement provides for the Stalking Horse
Bidder to receive a combined breakup fee and expense reimbursement
of $4 million.

The Debtors propose to hold an auction on Nov. 28, 2012, at the
offices of the Sellers' counsel, Ropes & Gray LLP in New York.
Closing of the deal must occur by the earlier of (i) 30 days
following entry of the Sale Order and (ii) Feb. 28, 2013.


MUNICIPAL MORTGAGE: Incurs $13.4 Million Net Loss in 3rd Quarter
----------------------------------------------------------------
Municipal Mortgage & Equity, LLC, filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q
disclosing a net loss of $13.41 million on $25.56 million of total
revenue for the three months ended Sept. 30, 2012, compared with a
net loss of $18.48 million on $25.98 million of total revenue for
the same period during the prior year.

For the nine months ended Sept. 30, 2012, the Company reported a
net loss of $23.70 million on $75.11 million of total revenue,
compared to a net loss of $47.59 million on $74.08 million of
total revenue for the same period a year ago.

The Company's balance sheet at Sept. 30, 2012, showed $1.85
billion in total assets, $1.12 billion in total liabilities and
$723.23 million in total equity.

"The success of our business going forward is largely dependent on
our ability to continue to obtain forbearance agreements and other
creditor concessions and generate sufficient net interest income
from our bond portfolio.  More specifically, there is uncertainty
as to whether we will be able to restructure or settle our non-
bond related debt to both senior and subordinate creditors in a
manner sufficient to allow our cash flow to service our debt
obligations as they become due.  The difficulty in managing all of
the issues described above raises substantial doubt about the
Company"s ability to continue as a going concern."

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

                        http://is.gd/fG9pAl

                      About Municipal Mortgage

Baltimore, Md.-based Municipal Mortgage & Equity, LLC (Pink
Sheets: MMAB) -- http://www.munimae.com/-- was organized in 1996
as a Delaware limited liability company and is classified as a
partnership for federal income tax purposes.

When the Company became a publicly traded company in 1996, it was
primarily engaged in originating, investing in and servicing tax-
exempt mortgage revenue bonds issued by state and local government
authorities to finance affordable multifamily housing
developments.  Since then, the Company made several acquisitions
that significantly expanded its business.  However, in 2008, due
to the financial crisis, the Company began contracting its
business.

The Company has sold, liquidated or closed down all of its
different businesses except for its bond investing activities and
certain assets and residual interests related to the businesses
and assets that the Company sold due to its liquidity issues.

The Company has a majority position in International Housing
Solutions S.a.r.l., a partnership that was formed to promote and
invest in affordable housing in overseas markets.  In addition, at
Dec. 31, 2010, the Company has an unfunded equity commitment of
$5.1 million, or 2.67% of total committed capital with respect to
its role as the general partner to the South Africa Workforce
Housing Fund SA I ("SA Fund").  The SA Fund was formed to invest
directly or indirectly in housing development projects and housing
sector companies in South Africa.  A portion of the funding of SA
Fund is participating debt provided by the United States Overseas
Private Investment Corporation, a federal government entity, and
the remainder is equity primarily invested by institutional and
large private investors.  The Company expects to continue this
business.

In the auditors' report accompanying the consolidated financial
statements for the year ended Dec. 31, 2011, KPMG LLP, in
Baltimore, Maryland, expressed substantial doubt about the
Company's ability to continue as a going concern.  The independent
auditors noted that the Company has been negatively impacted by
the deterioration of the capital markets and has liquidity issues
which have resulted in the Company having to sell assets and work
with its creditors to restructure or extend its debt arrangements.

                         Bankruptcy Warning

The Company said in its 2011 annual report that although the
Company has been able to extend, restructure and obtain
forbearance agreements on various debt and interest rate swap
agreements, these extensions, restructurings and forbearance
agreements are generally short-term in nature and do not by
themselves provide a viable long-term solution to the Company's
liquidity issues.  If the Company is not able to negotiate other
arrangements, the Company will not be able to pay the interest on
certain of its subordinate debt following the rate increases that
are scheduled to occur in April and May of 2012.  The Company's
future cash flows are not expected to be sufficient to satisfy the
overall debt service required under the subordinate debt following
such increases, and the Company would be unable to repay the
indebtedness if the subordinate debt were accelerated.

In the event management is not successful in restructuring or
settling its remaining non-bond related debt, or if the bond
portfolio net interest income and the common equity distributions
the Company receives from its subsidiaries are substantially
reduced, the Company may have to consider seeking relief through
reorganization under the U.S. Bankruptcy Code.


NALLS DEVELOPMENT: Can Access MV Property Cash Collateral
---------------------------------------------------------
The Hon. S. Martin Teel of the U.S. Bankruptcy Court for the
District of Columbia has authorized Nalls Development and
Investment, LLC, to use the cash collateral of MV Property LLC to
pay the actual and necessary expenses of operating and maintaining
the Debtor's property.

The Debtor is authorized to pay the items in the Budget in the
amounts actually incurred if those amounts are greater than the
budgeted amounts by no more than 10%, plus, in the aggregate for
all items, an additional $500.  Regardless of the inclusion in the
Budget, the Debtor is not authorized to pay any professional fees
out of Cash Collateral.

As adequate protection of MV Property's interest in Cash
Collateral, to the extent of any diminution in MV Property's Cash
COllateral, MV Property is granted a first priority valid,
perfected replacement lien and security interest on all of the
Debtor's pre-petition and post-petition assets, in the amount of
the Cash Collateral expended and the amount ofthe post-petition
diminution of its Collateral, with the Replacement Liens to have
the same extent, validity, and priority as MV Property's pre-
petition liens against the Debtor's Petition Date assets.  The
Replacement Liens in favor of MV Property will have priority over
any and all administrative expenses.

The Debtor will pay to MV Property monthly during the Cash
Collateral Period 1/12th of annual Property taxes.  MV Property
will be responsible to timely remit the payments it receives from
the Debtor to the Property tax agency and the insurance carrier.

As adequate protection, the Debtor will pay MV Property 80% of the
monthly cash now after payment of expenses authorized by this
Order.  The payment for the month ending September 30, 2012, will
be paid by wire transfer on or before October 5, 2012.  The
payment for the month ending October 31, 2012, will be paid by
wire transfer on or before November 5, 2012.  Payment, if any, for
the period from the Petition Date through August 31, 2012, is
reserved for a subsequent order.

An Event of Default under the Order shall occur upon any of the
following events: (a) a material breach or failure to comply with
any term, covenant, representation, warranty or requirement of the
Order, or any other order of the Court; (b) entry of an order
converting this case to a case under chapter 7 of the Bankruptcy
Code; (c) entry of an order appointing a trustee.

MV Property LLC asserts a perfected, valid, first priority
security interest and lien on the land and improvements at 201-211
Elmira Street SW; 200-210 Elmira Street SW; 4337-4347 Martin
Luther King Jr. Avenue SW and 4353-4363 Martin Luther King Avenue
SW, in Washington, DC 20032 and commonly known as Martin's View
Apartments.

MV Property holds a valid, first priority security interest and
lien on the rents of the Collateral.  The Debtor is not authorized
to use Cash Collateral unless MV Property consents to the use or
the Court authorizes the use subject to any conditions to
adequately protect MV Property's interest.

               About Nalls Development and Investment

Nalls Development and Investment, LLC, filed a Chapter 11 petition
(Bankr. D.D.C. Case No. 12-00512) on July 18, 2012.  The Debtor --
http://nallsdevelopment.com/-- said its principal assets are in
200-210 Elmira Street, SW and others in Washington, D.C.  It
serves Martin's View apartments, Mount Dome Apartments, Suitland
Forest Apartments, and 1900 16th St. Apartments.

Judge S. Martin Teel, Jr., oversees the case.  Jeffrey C.
Tuckfelt, Esq., at Obergh and Berlin, was initially tapped as
bankruptcy counsel.  The Debtor later turned to the Law Offices of
Richard B. Rosenblatt, PC.  The petition was signed by Arthur
Nalls, Jr., managing member.

In its schedules, the Debtor disclosed $7,066,835 in total assets
and $8,538,457 in total liabilities.


NALLS DEVELOPMENT: Files Schedule of Assets and Liabilities
-----------------------------------------------------------
Nalls Development and Investment, LLC, filed with the U.S.
Bankruptcy Court for the District of Columbia, its schedules of
assets and liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                $7,000,000
  B. Personal Property               $66,836
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                $7,372,000
  E. Creditors Holding
     Unsecured Priority
     Claims                                           $38,001
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                        $1,136,584
                                 -----------      -----------
        TOTAL                     $7,066,836       $8,546,585

A copy of the schedules is available for free at:
http://bankrupt.com/misc/NALLS_sal.pdf

               About Nalls Development and Investment

Nalls Development and Investment, LLC, filed a Chapter 11 petition
(Bankr. D.D.C. Case No. 12-00512) on July 18, 2012.  The Debtor --
http://nallsdevelopment.com/-- said its principal assets are in
200-210 Elmira Street, SW and others in Washington, D.C.  It
serves Martin's View apartments, Mount Dome Apartments, Suitland
Forest Apartments, and 1900 16th St. Apartments.

Judge S. Martin Teel, Jr., oversees the case.  Jeffrey C.
Tuckfelt, Esq., at Obergh and Berlin, was initially tapped as
bankruptcy counsel.  The Debtor later turned to the Law Offices of
Richard B. Rosenblatt, PC.  The petition was signed by Arthur
Nalls, Jr., managing member.

In its schedules, the Debtor disclosed $7,066,835 in total assets
and $8,538,457 in total liabilities.


NBAVE INC: Files for Chapter 11 to Block Foreclosure
----------------------------------------------------
Chris Bagley, staff writer at Triangle Business Journal, reports
that NBAve Inc., the owner of a Valero gas station near downtown
Raleigh, N.C., has filed for Chapter 11 bankruptcy reorganization
in an attempt to avoid foreclosure.

According to the report, bankruptcy attorney Travis Sasser said
the company owes about $293,000 on mortgages.  The bankruptcy
petition disclosed $84,000 in unsecured debt, mostly to credit-
card processors and government agencies.

The report notes the station is at the intersection of New Bern
Avenue and Raleigh Boulevard, just east of downtown.  Its petition
estimated its assets at between $500,000 and $1 million.  Mr.
Sasser said NBAve owns the gas station, building and land there.
The real estate's assessed value is $763,000, according to Wake
County records.

The report notes a company's aim in Chapter 11 is to restructure
its debts, reorganize its business and emerge in better financial
health.


NORTHFIELD INVESTMENT: Case Closed After Plan Confirmation
----------------------------------------------------------
U.S. Bankruptcy Judge Laura T. Beyer of the U.S. Bankruptcy Court
for the Western District of North Carolina has issued an order
closing the Chapter 11 cases filed by Northfield Investments, Inc.

The Bankruptcy Court confirmed the Debtor's plan of reorganization
on June 12, 2012.

The Debtor filed the plan on May 7, 2012.  The plan provided for
this treatment of claims against and interest in the Debtor:

     * Class 1 consists of post-petition costs of administering
the case which will be paid in full.

     * Class 2 consists of the claim of Wells Fargo Bank, N.A.,
whose claim is secured by mortgage liens.  This creditor will be
paid in accordance with a settlement agreement negotiated
by the creditor and the Debtor.

     * Class 3 consists of U.S. Bank, National Association, N.A.,
which is secured by mortgage liens.  This creditor will be paid
monthly payments as set out in its contract with the Debtor
together with contract interest and payments on arrearages and
fees.

     * Class 4 consists of secured and priority claims of North
Carolina Department of Revenue, the South Carolina Department of
Revenue and the Mecklenburg County Tax Collector.  These claims
will be paid pro rata from a $200 per month payment made by the
Debtor with interest at the rate of 8% accruing from the date of
filing until paid in full.  The first payment will be due on the
Effective Date of the Plan and a payment will be due on the first
day of each subsequent month until paid in full.

     * Class 5 consists of Regions Bank, which asserts a claim in
excess of $3,000,000 which the Debtor disputes in its entirety.
The Debtor proposes to pay $125,000 in full satisfaction of this
claim.  Regions Bank will be paid in one lump sum by the Debtor
upon refinancing all or a portion of its property no later than
December 31, 2015.  The amount to be paid represents the principal
sum of $100,000 and interest of $5,000 for the years 2011 through
2015.

     * Class 6 consists of claims by claimants related to the
Debtor, including Regional Construction and Southeastern
Construction.  These claimants will waive their claims.

     * Class 7 consists of general unsecured creditors.  The
Debtor will make monthly payments to members of this class
beginning on the Effective Date of the Plan and continuing on the
first day of each following month for a period of 60 months.  The
Debtor believes that the members of this class total approximate
$260,000. The distribution to this class approximates 40% percent.

     * Class 8 consists of the equity security holder who will
retain his equity interest.  However, no payment or other
distribution shall be made on account of his equity interest until
all payments provided for in the Plan with the exception of
monthly contract payments to Class 2 and Class 3 are paid in full.

The plan would be financed from the Debtor's earnings on its real
estate properties.

                   About Northfield Investments

Pineville, North Carolina-based Northfield Investments, Inc. --
fka Regional Property Development Corp, Property Asset Development
Corp, North Regional I LLC, and North Regional II LLC - was
organized in 1987 for the purpose of developing commercial real
property.. It owns four (4) real properties in Chalotte, N.C., and
one property in Huntersville, N.C., all of which are leased or
partially leased.  The Company filed for Chapter 11 bankruptcy
protection on October 18, 2010 (Bankr. W.D. N.C. Case No.
10-33044).  Richard M. Mitchell, Esq., at Mitchell & Culp, PLLC,
assists the Debtor in its restructuring effort.  In its schedules,
the Debtor disclosed $10,801,094 in assets and $13,071,273 in
liabilities.


NORTHWOODS CORP: Case Summary & 9 Unsecured Creditors
-----------------------------------------------------
Debtor: Northwoods Corporation
        3525 Airport Acres Road
        Charlottesville, VA 22911

Bankruptcy Case No.: 12-62601

Chapter 11 Petition Date: November 14, 2012

Court: United States Bankruptcy Court
       Western District of Virginia (Lynchburg)

Judge: William E. Anderson

Debtor's Counsel: Douglas E. Little, Esq.
                  P.O. Box 254
                  Charlottesville, VA 22902
                  Tel: (434) 977-4500
                  E-mail: delittleesq@aol.com

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

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

A copy of the Company's list of its nine unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/vawb12-62601.pdf

The petition was signed by Michael W. Worley, president.


NSG HOLDINGS: Moody's Raises Sr. Secured  Debt Rating to 'Ba1'
--------------------------------------------------------------
Moody's Investors Service has upgraded to Ba1 from Ba2 the ratings
for NSG Holdings LLC's (NSGH) senior secured notes due 2025, the
senior secured term loan due 2014, and the senior secured debt
service reserve issued by NSG Holdings, LLC (NSGH). At the same
time, Moody's has assigned Ba1 rating to the pari passu senior
secured term loan and secured revolver to be issued by NSGH. The
rating outlook is stable.

Ratings Rationale

The rating upgrade and rating assignment reflects changes within
NSGH's portfolio of projects which have increased the contribution
of contracted cash flows through power purchase agreements (PPAs)
with investment grade counterparties, with the PPAs' weighted
average life of around 12 years exceeding the final maturity of
both the term loan and the senior secured notes.

The portfolio changes have occurred primarily from the execution
of a long term tolling agreement at the Vandolah plant with
Progress Energy Florida (PEF: Baa1 stable), as well as PEF's
assumption of capacity under its existing PPAs from the Orlando
Plant upon the expiration of the Reedy Creek PPA in 2013, and from
the Orange Plant upon the expiration of its PPA with Tampa
Electric Company in 2015. The upgrades further acknowledge the
debt reduction that has occurred at NSGH following the sale of
portfolio assets including Mt. Poso, Front Range and Gilberton,
the proceeds of which were used to repay debt.

The rating upgrade further recognizes the increased concentration
risk of the portfolio with the Florida assets and PEF following
the completion of these sales and the execution of the Vandolah
toll. Moody's calculates that collectively four of five PPAs that
support the portfolio have PEF as their counterparty representing
95% of the cash flows over the life of the PPAs with the remaining
5% coming from a PPA with lower rated Nevada Power Company
(NVP:Baa3 stable).

The rating also considers the potential for volatility in debt
service coverage ratio owing to the mismatch that exists between
energy payments and fuel costs at three of the Florida plants
which could lead to margin erosion. Over the life of the PPAs,
these three plants are expected to contribute 77% of the cash
flows. Specifically, when natural gas prices are low and coal
prices are stable or rising, these plants tend to produce improved
operating margins. While Moody's expects natural gas prices to
remain low over the intermediate term, the potential volatility
that is associated with this fuel source continues particularly
given the tenor of the debt. To that end, Moody's estimates that
the expected DSCR to approximate 1.9x assuming the current
relationship between natural gas and coal remain unchanged.

The Ba1 rating further factors in the flexibility afforded to NSGH
to incur additional indebtedness over the life of the notes.
Moody's understands that NSGH can incur an additional $100 million
of senior secured indebtedness over the life of the notes, and the
proposed financing which will add $116 million of senior secured
indebtedness to the capital structure is an indication of the
sponsor's desire to use this flexibility to re-leverage at some
point in the future. The rating also recognizes the modest amount
of structural subordination that exists as Moody's understands
that approximately $90 million of senior secured amortizing term
loan debt issued by Orange Cogen Funding Corporation (Baa3,
stable) remains outstanding.

Proceeds from the transaction will be used to used to pay a $109
million dividend, to repay the existing $30 million secured term
loan (rated Ba1), and to pay transaction costs. Moody's notes that
the new term loan features a 100% cash sweep of excess cash flow
up to a targeted debt balance resulting in a small remaining
refinancing amount, which Moody's believes is quite manageable
given the remaining weighted average life of the off-take
contracts.

Moody's intends to withdraw the Ba1 on the existing $30 million
secured term loan due 2014 (cusip number: 62941NAB7) upon the
closing of the new transaction.

NSG Holdings LLC (NSGH), a subsidiary of Northern Star Generation
LLC (Northern Star), owns equity interests in eight power
generation facilities located in Florida, Nevada, California and
Pennsylvania.

Northern Star was formed in 2004 to acquire certain generation
assets from El Paso Corporation and is a 50 / 50 joint venture
between UBS Northern "C" LLC, indirectly owned by UBS
International Infrastructure Fund and OTPPB US Power, LLC, a
wholly-owned subsidiary of the Ontario Teachers' Pension Plan
Board. The Sponsors are experienced owners of contracted power
generation assets in the US market.

The principal methodology used in this rating was Power Generation
Projects published in December 2008.


NUTRA PHARMA: Incurs $4.4 Million Net Loss in 2011
--------------------------------------------------
Nutra Pharma Corp. filed with the U.S. Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$4.39 million on $159,599 of net sales for the year ended Dec. 31,
2011, compared with a net loss of $3.06 million on $1.43 million
of net sales during the prior year.

The Company's balance sheet at Dec. 31, 2011, showed $229,305 in
total assets, $4.11 million in total liabilities, all current,
$28,833 in derivative warrant liability and a $3.91 million total
stockholders' deficit.

"We incurred net losses of $4,397,198 for the 12 months ended
December 31, 2011 and $3,061,464 in fiscal 2010.  We anticipate
that these losses will continue for the foreseeable future.  We
have a significant working capital deficiency, and have not
reached a profitable level of operations, which raises substantial
doubt about our ability to continue as a going concern."

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

                       http://is.gd/QJACGl

                       About Nutra Pharma

Coral Springs, Florida-based Nutra Pharma Corp. is a holding
company that owns intellectual property and operations in the
biotechnology industry.  Nutra Pharma incorporated under the laws
of the state of California on Feb. 1, 2000, under the original
name of Exotic-Bird.com.

Through its wholly-owned subsidiaries, ReceptoPharm, Inc., and
Designer Diagnostics, Inc., the Company conducts drug discovery
research and development activities.  In October 2009, the Company
launched its first consumer product called Cobroxin, an over-the-
counter pain reliever designed to treat moderate to severe chronic
pain.  In May 2010, the Company launched its second consumer
product called Nyloxin, an over-the-counter pain reliever that is
a stronger version of Cobroxin and is designed to treat severe
chronic pain.

The Company reported a net loss of $1.9 million for the nine
months ended Sept. 30, 2011, compared with a net loss of $2.3
million for the same period of 2010.

Kingery & Crouse, P.A., in Tampa, Florida, expressed substantial
doubt about Nutra Pharma's ability to continue as a going concern,
following the Company's 2010 results.  The independent auditors
noted that the Company has no cash as of Dec. 31, 2010, has
suffered recurring losses from operations and has ongoing
requirements for additional capital investment.


NUVEEN INVESTMENTS: Moody's Corrects Sept. 5 Rating Release
-----------------------------------------------------------
Moody's Investors Service issued a correction to the September 5
rating release of Nuveen Investments, Inc.

Moody's affirmed the debt ratings of Nuveen following the
company's announcement that it intends issue $1.15 billion of new
senior unsecured notes to repurchase $935 million of senior
unsecured notes due in 2015 and consolidate its senior secured
first lien bank debt into a $2.28 billion term loan due 2017. The
new senior unsecured notes will be issued in two tranches; $500
million due 2017 and $645 million due in 2020. The $435 million
additional term loan issuance will refinance senior secured bank
debt due in 2014 and revolving credit facility borrowings due in
2013 and 2015. Moody's has assigned a B2 rating to the new senior
secured term loan and a Caa2 rating to the new senior notes. The
outlook for Nuveen's debt ratings is positive.

Ratings Rationale

Commenting on Nuveen's action, Moody's analyst Rory Callagy said,
"We believe that the refinancing of Nuveen's 2014 and 2015 debt
maturities does not have a material effect on the company's
ratings. The transaction will have a modest positive impact on
financial flexibility; however, this is offset by a moderately
negative impact on financial leverage.

The debt repurchases improve the company's debt maturity profile,
removing near term refinancing risks. Proforma leverage (total
debt/Moody's EBITDA) is expected to increase to 9.7x from 9.2x as
result of the transaction while interest coverage is expected to
remain unchanged given the expected all-in cost of the new
capital.

Moody's said that the company's ratings primarily reflect Nuveen's
weak financial fundamentals, characterized by high financial
leverage, marginal interest coverage and refinancing relative to
other Moody's-rated asset managers. Also considered in the rating
is Nuveen's good market position, diversified business mix and
strong distribution capabilities. The company's refinancing and
deleveraging strategy is also reflected in the company's ratings.

The positive outlook reflects Nuveen's strengthening brand and
positive operating fundamentals, despite recent headwinds from its
Tradewinds affiliate, and an expectation for further improvement
in its credit metrics.

Nuveen Investments, Inc., headquartered in Chicago, is a US-
domiciled holding company whose subsidiaries provide investment
management products and services to retail and institutional
investors predominantly in the US. The company's assets under
management were $215 billion as of July 31, 2012.

Ratings assigned, all with positive outlooks, include:

$190 million revolving credit facility at B2

$435 million extended first lien term loan due 2017 at B2

$1,145 million senior notes; $500 million due 2017 and $645
million due 2020 at Caa2

Rating affirmed, all with positive outlooks, include:

Corporate Family Rating of B3

$1,846 billion senior secured first lien loan due 2017 at B2

$280 million senior secured incremental term loan due 2017 at B2

$500 million senior secured second lien loan due 2019 at Caa1

$300 million 5.5% senior unsecured notes due 2015 at Caa2

The principal methodology used in this rating was Moody's Global
Rating Methodology for Asset Management Firms published in October
2007.


OCEAN DRIVE: Can Use Rent to Pay Operating Expenses
---------------------------------------------------
Judge Robert A. Mark of the U.S. Bankruptcy Court for the Southern
District of Florida has authorized Ocean Drive Investment LLC
(ODI) to access cash collateral in accordance with a budget.

The Debtors own and operate a hotel located at 1320 Ocean Drive,
Miami Beach, Florida.  As of the Petition Date, Ridge Hill
Holdings-Miami, LLC, was the holder of a promissory note dated
June 5, 2005, secured by a mortgage on the Hotel in the
approximate sum of $9,931,682.05.  Ridge Hill also possesses a
collateral assignment of leases and rents and a security interest
in ODI's assets and is the holder of Amended Consent Final
Judgment of Foreclosure and for Liability as to Breach of Payment
Guaranty, dated August 17, 2012.  Lacasafive S.A. is the holder of
a second mortgage dated January 5, 2009, in the approximate amount
of $169,000.  Lacasafive's mortgage purports to receive an
assignment of rents and leases.

As adequate protection for the use of cash collateral, Ridge Hill
and Lacasfive are granted a replacement lien on all property
owned, acquired or generated post-petition by the Debtors'
continued operations to the same extent, validity and priority, if
any, and of the same kind and nature as Ridge Hill and Lacasafive
had prior to the Petition Date, equal to the aggregate diminution
in value of the prepetition collateral resulting from the Debtors'
use of the cash collateral.

In addition to the Replacement Lien, CavHotel will make a monthly
adequate protection payment to Ridge Hill in the amount of
$24,829.21, which payment will be due on or before the last
banking day of the calendar month.

                   About Ocean Drive Investment

Miami Beach, Florida-based Ocean Drive Investment LLC own the
Cavalier Hotel located directly Ocean Drive, in Miami's South
Beach, facing the Atlantic Ocean.  Cavalier has 46 rooms and is
just within walking distance to bars, shops, dining, nightlife,
and the nonstop action of South Beach.

The Company filed for Chapter 11 bankruptcy protection on Aug. 28,
2012 (Bankr. S.D. Fla. Case No. 12-30448).  Nicholas B. Bangos,
Esq., assists the Debtor in its restructuring effort.  The Debtor
estimated assets and debts of between $10 million to $50 million
as of the Petition Date.


PARADOX PROPERTIES: Case Summary & 11 Unsecured Creditors
---------------------------------------------------------
Debtor: Paradox Properties, LLC
        8502 Kelso Drive
        Baltimore, MD 21221

Bankruptcy Case No.: 12-30493

Chapter 11 Petition Date: November 14, 2012

Court: United States Bankruptcy Court
       District of Maryland (Baltimore)

Debtor's Counsel: Marla L. Howell, Esq.
                  DECARO & HOWELL, P.C.
                  14406 Old Mill Rr. No. 201
                  Upper Marlboro, MD 20772
                  Tel: (301) 464-1400
                  E-mail: mhowell@decarohowell.com

Scheduled Assets: $1,001,364

Scheduled Liabilities: $1,970,299

A copy of the Company's list of its 11 unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/mdb12-30493.pdf

The petition was signed by Troy M. SChweiger, managing member.


PATRIOT COAL: To Halt Mountaintop-Removal Mining in Appalachia
--------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
relates that Patriot Coal Corp. agreed with the Sierra Club to
become the first large-scale coal producer to halt mountaintop-
removal mining in Appalachia.

Patriot said in a statement that large-scale surface mining is no
longer in the company's "long-term interests."  St. Louis-based
Patriot will end major surface mining permanently while focusing
on underground mining.

According to the report, the settlement was reached in a West
Virginia federal court lawsuit with the Sierra Club and two other
environmental groups.  Originally brought in 2006, the suit was
seeking to enforce a consent order where Patriot had agreed to
install $27 million of equipment by May 2013 to halt selenium
pollution.  In return for no more mountaintop removal, the
deadline for installing the equipment was pushed out to 2014 and
beyond.

Patriot said the settlement "increases the likelihood that we will
emerge from the Chapter 11 process as a viable business."

The Sierra Club said Patriot was one of the largest mountaintop-
removal mining operations. According to the Sierra Club, Patriot
"will only conduct small-scale surface mining in conjunction with
existing and planned underground mining."

Patriot's $200 million in 3.25% senior convertible notes due in
2013 traded Thursday for 13.5 cents on the dollar, according to
Trace, the bond-price reporting system of the Financial Industry
Regulatory Authority. The $250 million in 8.25% senior unsecured
notes due in 2018 traded for 48 cents on the dollar, Trace
reported.

                         About Patriot Coal

St. Louis-based Patriot Coal Corporation (NYSE: PCX) is a producer
and marketer of coal in the eastern United States, with 13 active
mining complexes in Appalachia and the Illinois Basin.  The
Company ships to domestic and international electricity
generators, industrial users and metallurgical coal customers, and
controls roughly 1.9 billion tons of proven and probable coal
reserves.

Patriot Coal and nearly 100 affiliates filed voluntary Chapter 11
petitions in U.S. bankruptcy court in Manhattan (Bankr. S.D.N.Y.
Lead Case No. 12-12900) on July 9, 2012.  Patriot said it had
$3.57 billion of assets and $3.07 billion of debts, and has
arranged $802 million of financing to continue operations during
the reorganization.

Davis Polk & Wardwell LLP is serving as legal advisor, Blackstone
Advisory Partners LP is serving as financial advisor, and AP
Services, LLC is providing interim management services to Patriot
in connection with the reorganization.  Ted Stenger, a Managing
Director at AlixPartners LLP, the parent company of AP Services,
has been named Chief Restructuring Officer of Patriot, reporting
to the Chairman and CEO.  GCG, Inc. serves as claims and noticing
agent.

The case has been assigned to Judge Shelley C. Chapman.

The U.S. Trustee appointed a seven-member creditors committee.

The bankruptcy judge is yet to decide whether to retain the
Chapter 11 reorganization in Manhattan or transfer proceedings to
West Virginia, where most of the mines are located, or St. Louis,
home to the headquarters. The union wants the case in West
Virginia.


PEREGRINE FINANCIAL: Claim Deadline Pushed Out to Dec. 14
---------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
relates that customers of Peregrine Financial Group Inc., the
liquidating commodity broker, have an extra month to file claims
and some will receive a distribution of $4.65 million from the
liquidation of Treasury securities.  The U.S. Bankruptcy Court in
Chicago signed an order on Nov. 14 pushing out the so-called bar
date and authorizing the additional distribution. The claim-filing
deadline moved to Dec. 14 from Nov. 16.

According to the report, Peregrine trustee Ira Bodenstein sought
the extension on concern that customers may have assumed there was
no reason for filing claims because parts of their account
holdings were transferred in bulk to another broker.  The trustee
will distribute $4.65 million from the liquidation of Treasury
securities held in customer accounts.  Prior distribution
authorization didn't include proceeds from Treasury securities.
The trustee previously distributed $123 million to futures
customers from $181 million in customer property he collected.
The distributions worked out to $111.75 million, 30% in cash, for
4d customers with commodity futures and options accounts.  For
customers with accounts for trading futures or options on foreign
exchanges, known as "30.7" customers, the distribution was 40%, or
$11.25 million in cash.  The distributions of Treasury securities
will be in the same percentages depending on the nature of the
accounts.

                     About Peregrine Financial

Peregrine Financial Group Inc. filed to liquidate under Chapter 7
of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 12-27488)
on July 10, 2012, disclosing between $500 million and $1 billion
of assets, and between $100 million and $500 million of
liabilities.

Earlier that day, at the behest of the U.S. Commodity Futures
Trading Commission, a U.S. district judge appointed a receiver and
froze the firm's assets.  The firm put itself into bankruptcy
liquidation in Chicago later the same day.  The CFTC had sued
Peregrine, saying that more than $200 million of supposedly
segregated customer funds had been "misappropriated."  The CFTC
case is U.S. Commodity Futures Trading Commission v. Peregrine
Financial Group Inc., 12-cv-5383, U.S. District Court, Northern
District of Illinois (Chicago).

Peregrine's CEO Russell R. Wasendorf Sr. unsuccessfully attempted
suicide outside a firm office in Cedar Falls, Iowa, on July 9.

The bankruptcy petition was signed in his place by Russell R.
Wasendorf Jr., the firm's chief operating officer. The resolution
stated that Wasendorf Jr. was given a power of attorney on July 3
to exercise if Wasendorf Sr. became incapacitated.

Peregrine Financial is the regulated unit of the brokerage
PFGBest.


PEREGRINE FINANCIAL: Receives Non-Compliance Notice From Nasdaq
---------------------------------------------------------------
Peregrine Pharmaceuticals received a notice from The NASDAQ Stock
Market indicating that the company's minimum bid price has fallen
below $1.00 for 30 consecutive business days, and therefore, was
not in compliance with NASDAQ Marketplace Rule 5550(a)(2).  The
company has been provided 180 calendar days, or until May 13,
2013, to regain compliance with the minimum bid price requirement.
To regain compliance, the closing bid price of the company's
common stock must be at least $1.00 per share for a minimum of 10
consecutive business days.  This notice does not impact the
company's listing on The NASDAQ Stock Market at this time.

If the company does not regain compliance within the initial 180-
day period, but otherwise meets the continued listing requirement
for market value of publicly held shares and all other initial
listing standards for The NASDAQ Capital Market, except for the
minimum bid price requirement, and notifies NASDAQ of its
intention to take the necessary steps to cure the deficiency
during the second compliance period, the company will be granted
an additional 180 calendar days to regain compliance.  If the
company is not eligible for an additional compliance period,
NASDAQ will notify the company that its securities will be subject
to delisting.  At that time, the company may appeal this
determination to delist its securities to a Listing Qualification
Panel.

                     About Peregrine Financial

Peregrine Financial Group Inc. filed to liquidate under Chapter 7
of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 12-27488)
on July 10, 2012, disclosing between $500 million and $1 billion
of assets, and between $100 million and $500 million of
liabilities.

Earlier that day, at the behest of the U.S. Commodity Futures
Trading Commission, a U.S. district judge appointed a receiver and
froze the firm's assets.  The firm put itself into bankruptcy
liquidation in Chicago later the same day.  The CFTC had sued
Peregrine, saying that more than $200 million of supposedly
segregated customer funds had been "misappropriated."  The CFTC
case is U.S. Commodity Futures Trading Commission v. Peregrine
Financial Group Inc., 12-cv-5383, U.S. District Court, Northern
District of Illinois (Chicago).

Peregrine's CEO Russell R. Wasendorf Sr. unsuccessfully attempted
suicide outside a firm office in Cedar Falls, Iowa, on July 9.

The bankruptcy petition was signed in his place by Russell R.
Wasendorf Jr., the firm's chief operating officer. The resolution
stated that Wasendorf Jr. was given a power of attorney on July 3
to exercise if Wasendorf Sr. became incapacitated.

Peregrine Financial is the regulated unit of the brokerage
PFGBest.

At a quickly-convened hearing on July 13, the bankruptcy judge
authorized the Chapter 7 trustee to operate Peregrine's business
on a "limited basis" through Sept. 13.


PERRY RENTAL: Case Summary & 4 Unsecured Creditors
--------------------------------------------------
Debtor: Perry Rental Properties, LLC
        P.O. Box 958
        616 Albemarle Street
        Bluefield, WV 24701

Bankruptcy Case No.: 12-10151

Chapter 11 Petition Date: November 13, 2012

Court: U.S. Bankruptcy Court
       Southern District of West Virginia (Bluefield)

Judge: Ronald G. Pearson

Debtor's Counsel: Joseph W. Caldwell, Esq.
                  CALDWELL & RIFFEE
                  P.O. Box 4427
                  Charleston, WV 25364-4427
                  Tel: (304) 925-2100
                  Fax: (304) 925-2193
                  E-mail: joecaldwell@frontier.com

                         - and ?

                  Marshall C. Spradling, Esq.
                  3818 MacCorkle Avenue SE
                  Charleston, WV 25304
                  Tel: (304) 343-2544
                  Fax: (304) 343-2546
                  E-mail: marshall@spradlinglaw.net

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

Estimated Debts: $0 to $50,000

A copy of the Company's list of its four unsecured creditors filed
with the petition is available for free at:
http://bankrupt.com/misc/wvsb12-10151.pdf

The petition was signed by Ward B. Perry, member.


PETRON ENERGY II: Incurs $-Mil. Net Loss in Third Quarter
---------------------------------------------------------
Petron Energy II, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $330,223 on $78,808 of revenues for the
three months ended Sept. 30, 2012, compared with a net loss of
$1.17 million on $46,494 of revenues for the corresponding period
last year.

General and Administrative costs for the three months ended
Sept. 30, 2012, were $310,221 compared to $1.03 million for the
period ended Sept. 30, 2011.

The Company reported a net loss of $7.36 million on $274,384 of
revenues for the nine months ended Sept. 30, 2012, compared with a
net loss of $1.65 million on $89,503 of revenues for the same
period of 2011.

General and Administrative costs for the nine months ended
Sept. 30, 2012, were $1.39 million compared to $1.47 million for
the period ended Sept. 30, 2011.

During the nine months ended Sept. 30, 2012, the Company recorded
an impairment charge of $5.90 million related to its oil and gas
properties acquired from One Energy.

The Company's balance sheet at Sept. 30, 2012, showed
$2.59 million in total assets, $1.05 million in total liabilities,
and stockholders' equity of $1.54 million.

                     Going Concern Uncertainty

"The Company has incurred a net loss of $7,355,368 for the nine
months ended Sept. 30, 2012, (2011 - $1,651,087) and at Sept. 30,
2012, had an accumulated deficit of $18,850,528 (2011 -
$11,495,160).  While the Company has recognized revenues from
operations, the revenues generated are not sufficient to sustain
operations.  The Company does not have sufficient funds to acquire
new business assets or maintain its existing operations at this
time.  Management's plan is to raise equity and/or debt financing
as required but there is no certainty that such financing will be
available or that it will be available at acceptable terms.  The
outcome of these matters cannot be predicted at this time."

A copy of the Form 10-Q is available at http://is.gd/5PIDVd

Dallas-based Petron Energy II, Inc., was formerly known as Petron
Energy Special Corp. and was incorporated in June 2007 under the
laws of the State of Texas; and, on April 2011, was reincorporated
in the state of Nevada.  Pursuant to a Plan of Merger, the parent
company, Petron Energy Special Corp. was merged into its wholly
owned subsidiary, Petron Energy II, Inc.  The surviving entity was
Petron Energy II, Inc.  The effective date of the Plan of Merger
was Jan. 3, 2012.

The Company is engaged primarily in the acquisition, development,
production, exploration for and the sale of oil, gas and gas
liquids in the United States.  As of Dec. 31, 2011, the Company is
operating in the states of Texas and Oklahoma.  The Company sells
its oil and gas products primarily to a domestic pipeline and to
another oil company.


PIONEER POINT: Seeks Recognition of UK Proceedings
--------------------------------------------------
Administrators of Pioneer Point Limited filed a Chapter 15
bankruptcy petition in Manhattan (Bankr. S.D.N.Y. Case No.
12-14615) to seek recognition of the company's administration
proceeding in the United Kingdom.

Formerly known as Empire (SPV) Limited, Pioneer is the owner of a
real estate development project in Ilford, England, consisting of
two towers containing approximately 290 residential units and
several ground floor commercial units.  Pioneer breached various
obligations to Landesbank Hessen-Thuringen Gironzentrale, which
was owed GBP108.2 million as of March 2012.  After talks for a
restatement of the facility broke down, Landesbank sought
appointment of administrators under the Insolvency Act 1986 of the
United Kingdom.

The administrators, namely Trevor Patrick O'Sullivan and David
John Dunckley, both from Grant Thornton UK LLP, filed the
Chapter 15 petition with a U.S. bankruptcy court to avoid and
resolve disputes with Global Design Strategies LLC.

Pursuant to an agreement dated Sept. 8, 2010, New York-based GDS
agreed to provide certain art and design consultancy services in
connection with the development of Pioneer's properties.  In
September, GDS tendered an invoice in the sum of GBP407,000.

The administrators are concerned that, within the context of any
future dispute with GDS, GDS may commence legal or arbitral
proceedings against Pioneer in New York pursuant to the GDS
Agreement which endows the courts of New York with exclusive
jurisdiction over any such disputes.

The administrators say that the cost of defending any legal or
arbitral proceedings in New York would be prohibitively expensive
as well as disruptive to their efforts in the U.K. proceeding to
rehabilitate Pioneer.

By granting recognition, the U.S. Bankruptcy Court would empower
the administrators to deal with any action or proceeding commenced
in the United States.


PIONEER POINT: Chapter 15 Case Summary
--------------------------------------
Chapter 15 Petitioner: Trevor Patrick O'Sullivan, as administrator

Chapter 15 Debtor: Pioneer Point Limited
                   fka Empire (SPV) Limited
                   Grant Thornton UK LLP
                   30 Finsbury Square
                   London EC2P 2YU
                   United Kingdom

Chapter 15 Case No.: 12-14615

Chapter 15 Petition Date: November 15, 2012

Court: U.S. Bankruptcy Court
       Southern District of New York (Manhattan)

Judge: Burton R. Lifland

Petitioner's
Counsel: Christopher A. Lynch, Esq.
                  REED SMITH LLP
                  599 Lexington Avenue, 30th Floor
                  New York, NY 10022
                  Tel: (212) 549-0208
                  E-mail: clynch@reedsmith.com

                         - and ?

                  Michael J. Venditto, Esq.
                  REED SMITH LLP
                  599 Lexington Avenue
                  New York, NY 10022
                  Tel: (212) 205-6081
                  Fax: (212) 521-5450
                  E-mail: mvenditto@reedsmith.com

Estimated Assets: $50,000,001 to $100,000,000

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

The Company did not file a list of creditors together with its
petition.


PROCESS AMERICA: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Process America, Inc.
        9040 Topanga Canyon Blvd.
        Canoga Park, CA 91304

Bankruptcy Case No.: 12-19998

Chapter 11 Petition Date: November 12, 2012

Court: United States Bankruptcy Court
       Central District of California (San Fernando Valley)

Judge: Maureen Tighe

Debtor's Counsel: Ron Bender, Esq.
                  LEVENE, NEALE, BENDER, YOO & BRILL LLP
                  10250 Constellation Blvd., Suite 1700
                  Los Angeles, CA 90067
                  Tel: (310) 229-1234
                  E-mail: rb@lnbyb.com

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

Estimated Debts: $10,000,001 to $50,000,000

A copy of the Company's list of its 20 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/cacb12-19998.pdf

The petition was signed by Kim Ricketts, president.


PROTEONOMIX INC: Suspending Filing of Reports with SEC
------------------------------------------------------
Proteonomix, Inc., filed with the U.S. Securities and Exchange
Commission a Form 15 notifying of its suspension of its duty under
Section 15(d) to file reports required by Section 13(a) of the
Securities Exchange Act of 1934 with respect to its common stock.
As of Nov. 13, 2012, there were only 187 holders of the common
shares.

                         About Proteonomix

Proteonomix, Inc. (OTC BB: PROT) -- http://www.proteonomix.com/--
is a biotechnology company focused on developing therapeutics
based upon the use of human cells and their derivatives.

The Company reported a net loss applicable to common shares of
$1.38 million in 2011, compared with a net loss applicable to
common shares of $3.47 million in 2010.

After auditing the financial statements for the year ended
Dec. 31, 2011, KBL, LLP, in New York, expressed substantial doubt
about the Company's ability to continue as a going concern.  The
independent auditors noted that the Company has sustained
significant operating losses and is currently in default of its
debt instrument and needs to obtain additional financing or
restructure its current obligations.

The Company's restated balance sheet at June 30, 2012, showed
$5.75 million in total assets, $5.75 million in total liabilities
and a $1,087 total stockholders' deficit.


RACKWISE INC: Agrees to Sell $5.5MM Conv. Notes to Black Diamond
----------------------------------------------------------------
Rackwise, Inc., on Nov. 9, 2012, entered into a non-binding Term
Sheet with Black Diamond Financial Group, LLC, with respect to the
Company's proposed sale to BD of up to an aggregate principal
amount of $5,500,000 in 3 year, Series A, 6% Convertible Senior
Secured Notes.  The proposed purchase and sale transaction is
subject to the execution of a definitive agreement and other
closing conditions.  A $750,000 Note is to be issued and sold to
BD on the initial closing date of the transaction which is
expected to be on Dec. 1, 2012.  Additional $750,000 Notes are to
be issued and sold to BD in four installments on each of Dec. 15,
2012, Jan. 15, 2013, Feb. 15, 2013, and March 15, 2013.  A final
Note in the principal amount of $1,750,000 is to be issued and
sold to BD on April 15, 2013.  The purchase price of the Notes
will be equal to 91% of the principal amount of the Notes.  The
Notes will be secured by a first priority security interest in and
lien on all of the Company's assets.

The Notes will bear interest at the rate of 6% per annum, payable
quarterly in arrears.  Until the Company achieves positive cash
flow for a minimum of two successive quarters or for a maximum
period of two years during the term of the Notes, at the Company's
option, quarterly interest may be paid in kind.  Upon the
occurrence and during the continuance of an event of default,
additional interest on the Notes at the rate of 12% per annum will
become payable.

BD will have the right for a period of 6 months following the sale
of the last Note to invest up to an additional $5,000,000 on the
same terms and conditions and will also have the right to
participate on a pro rata basis in any subsequent debt financings
by the Company.

In consideration of BD's purchase of the Notes, the Company has
further agreed to reduce the exercise price of the warrants
exercisable for the purchase of up to 12,045,391 shares of the
Company's common stock that were issued to BD and its affiliates
in conjunction with the Company's Sept. 21, 2011, merger from
$0.625 per share to $0.30 per share.  If BD purchases Notes for an
aggregate of $5,500,000 the exercise price for all of the BD
Merger Warrants will be reduced to $0.30.  If BD purchases Notes
for an aggregate of less than $5,500,000, the exercise price of
the BD Merger Warrants will be reduced as to a proportionate
number of the BD Merger Warrants.  By way of example, if BD
purchases Notes in the aggregate principal amount of $2,750,000,
the Company will reduce the exercise price of 50% of the BD Merger
Warrants.

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

                        http://is.gd/GKfJmC

                         About Rackwise Inc.

Rackwise, Inc., is a software development, sales and marketing
company within the markets of IT infrastructure, data center
monitoring, management and optimization, data center cost
efficiency and green data centers.  The Company's executive
offices are currently located in San Francisco, California, and
the Company has a software development and data center in the
Research Triangle Park in Raleigh, North Carolina.  The Company is
in the process of relocating our executive offices to Folsom,
California and expanding its software development center.

The Company's balance sheet at June 30, 2012, showed $1.67 million
in total assets, $5.74 million in total liabilities, and a
$4.07 million total stockholders' deficiency.

As reported in the TCR on April 9, 2012, Marcum LLP, in New York,
N.Y., expressed substantial doubt about Rackwise, Inc.'s ability
to continue as a going concern, following the Company's results
for the fiscal year ended Dec. 31, 2011.  The independent auditors
noted that the Company has not achieved a sufficient level of
revenues to support its business and has suffered recurring losses
from operations.


RANCHO LAS FLORES: REIT Firm Acquires Summit Valley Property
------------------------------------------------------------
Tomoya Shimura at VVDailypress.com reports that a Texas-based real
estate investment firm bought bankrupt Rancho Las Flores, a nearly
10,000-acre master-planned residential community in Summit Valley.

The report also notes the city of Hesperia is trying to buy the
property's water rights.  The City Council will vote during a
public meeting whether Hesperia will issue bonds to buy the
permanent water rights to Rancho Las Flores for $30 million.

The report relates City Manager Mike Podegracz said the decision
to go after the water rights had nothing to do with Terra Verde
Group's attempt to buy the land.  It's not clear what would happen
to the Rancho Las Flores project if the City Council votes against
buying the water rights, the report adds.

According to the report, the Rancho Las Flores project included
plans to build a community with a golf course, 60-acre sports
park, bike and jogging trails and an elementary school in each of
eight villages.

The report notes, after failing to take off for more than 20
years, however, Rancho Las Flores was foreclosed and the developer
filed for Chapter 11 bankruptcy.  The debtors struck a $45 million
sale agreement of the property with Terra Verde Group, LLC,
according to a bankruptcy court document. The developer announced
the closing of the purchase Tuesday.

The report notes the City Council meeting will begin 6:30 p.m. on
Nov. 20, 2012, at the City Hall, 9700 Seventh Ave. in Hesperia.


ROSETTA GENOMICS: To Hold Extraordinary Meeting on Dec. 19
----------------------------------------------------------
An extraordinary general meeting of the shareholders of Rosetta
Genomics Ltd. will be held at the offices of the Company at 10
Plaut St., Rehovot, Israel on Dec. 19, 2012, at 16:00.  The
purpose of the meeting is to elect Mr. Yitzhak Peterburg to serve
as a Class I director of the Company until the annual general
meeting of the Company's shareholders to be held in 2014 in
accordance with the Company's articles of association.

                           About Rosetta

Based in Rehovot, Israel, Rosetta Genomics Ltd. is seeking to
develop and commercialize new diagnostic tests based on a recently
discovered group of genes known as microRNAs.  MicroRNAs are
naturally expressed, or produced, using instructions encoded in
DNA and are believed to play an important role in normal function
and in various pathologies.  The Company has established a CLIA-
certified laboratory in Philadelphia, which enables the Company to
develop, validate and commercialize its own diagnostic tests
applying its microRNA technology.

In its auditors' report for the 2011 financial statements, Kost
Forer Gabbay & Kasierer, in Tel-Aviv, Israel, expressed
substantial doubt about Rosetta Genomics' ability to continue as a
going concern.  The independent auditors noted that the Company
has incurred recurring operating losses and generated negative
cash flows from operating activities in each of the three years in
the period ended Dec. 31, 2011.

The Company reported a net loss after discontinued operations of
$8.83 million on $103,000 of revenues for 2011, compared with a
net loss after discontinued operations of $14.76 million on
$279,000 of revenues for 2010.

The Company's balance sheet at June 30, 2012, showed $7.67 million
in total assets, $3.95 million in total liabilities and $3.71
million in total shareholders' equity.

                         Bankruptcy Warning

The Company said in its annual report for the year ended Dec. 31,
2011, "We have used substantial funds to discover, develop and
protect our microRNA tests and technologies and will require
substantial additional funds to continue our operations.  Based on
our current operations, our existing funds, including the proceeds
from the January 2012 debt financing, will only be sufficient to
fund operations until late May, 2012.  We intend to seek funding
through collaborative arrangements and public or private equity
offerings and debt financings.  Additional funds may not be
available to us when needed on acceptable terms, or at all.  In
addition, the terms of any financing may adversely affect the
holdings or the rights of our existing shareholders.  For example,
if we raise additional funds by issuing equity securities, further
dilution to our then-existing shareholders may result.  Debt
financing, if available, may involve restrictive covenants that
could limit our flexibility in conducting future business
activities.  If we are unable to obtain funding on a timely basis,
we may be required to significantly curtail one or more of our
research or development programs.  We also could be required to
seek funds through arrangements with collaborators or others that
may require us to relinquish rights to some of our technologies,
tests or products in development or approved tests or products
that we would otherwise pursue on our own.  Our failure to raise
capital when needed will materially harm our business, financial
condition and results of operations, and may require us to seek
protection under the bankruptcy laws of Israel and the United
States."


RUBICON FINANCIAL: Incurs $66,600 Net Loss in Third Quarter
-----------------------------------------------------------
Rubicon Financial Incorporated filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss of $66,646 on $3.72 million of revenue for the three
months ended Sept. 30, 2012, compared with a net loss of $296,382
on $3.49 million of revenue for the same period during the prior
year.

The Company reported net income of $1.54 million on $11.66 million
of revenue for the nine months ended Sept. 30, 2012, compared with
net income of $130,089 on $11.91 million of revenue for the same
period a year ago.

The Company reported a net loss of $2.0 million for 2011, compared
with a net loss of $1.7 million for 2010.

The Company's balance sheet at Sept. 30, 2012, showed
$4.67 million in total assets, $2.82 million in total liabilities,
and $1.85 million in total stockholders' equity.

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

                        http://is.gd/ST95aP

                           About Rubicon

Irvine, Calif.-based Rubicon Financial Incorporated is a financial
services holding company.  The Company operates primarily through
Newport Coast Securities, Inc., a fully-disclosed broker-dealer,
which does business as Newport Coast Asset Management as a
registered investment advisor and dual registrant with the
Securities and Exchange Commission and Newport Coast Securities
insurance general agency.

After auditing the 2011 results, Weaver Martin & Samyn, LLC, in
Kansas City, Missouri, expressed substantial doubt about Rubicon
Financial's ability to continue as a going concern.  The
independent auditors noted that the Company has suffered recurring
losses and had negative cash flows from operations.


SAVE MOST: Files for Chapter 11 in California
---------------------------------------------
Save Most Desert Rancho, Ltd., filed a bare-bones Chapter 11
petition (Bankr. C.D. Calif. Case No. 12-23173) in Santa Ana,
California on Nov. 15.  The Laguna Hills-based company estimated
at least $10 million in assets and liabilities.  According to the
docket, the schedules of assets and liabilities and statement of
financial affairs are due Nov. 29.


SAVE MOST: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Save Most Desert Rancho, Ltd.
        23272 Mill Creek Drive, #330
        Laguna Hills, CA 92653

Bankruptcy Case No.: 12-23173

Chapter 11 Petition Date: November 15, 2012

Court: U.S. Bankruptcy Court
       Central District of California (Santa Ana)

Judge: Catherine E. Bauer

Debtor's Counsel: Michael G. Spector, Esq.
                  LAW OFFICES OF MICHAEL G. SPECTOR
                  2677 N. Main Street, Suite 800
                  Santa Ana, CA 92705
                  Tel: (714) 835-3130
                  Fax: (714) 558-7435
                  E-mail: mgspector@aol.com

Scheduled Assets: $10,000,001 to $50,000,000

Scheduled Liabilities: $10,000,001 to $50,000,000

The petition was signed by Charles Kaminskas for Brighton Park,
LP, general partner.

Debtor's List of Its 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Southern California Edison         Utilities               $13,069
P.O. Box 300
Rosemead, CA 91771-0001

Ascentia Engineering               Airconditioning         $12,939
P.O. Box 2855
Crestline, CA 92325-2855

Southern California Edison         Utilities               $11,241
P.O. Box 300
Rosemead, CA 91771-0001

Lee & Associates                   Real Estate Broker       $4,002

Avalon Bldg. Maintenance           Janitorial               $3,950

The Ritz Co.                       Janitorial               $3,452

New Life Carpets                   Vendor                   $2,245

Strata Realty                      Broker                   $2,000

Waste Mgmt. of O.C.                Waste                    $1,690

Goldberg, Lee                      Attorney Fees            $1,617

Superior Alliance Elev.            Elevator Service         $1,150

Home Depot Credit Service          Credit Card Purchases    $1,036

Orange County Janitorial           Janitorial                 $841

E.S.K.                             Building Maintenance       $750

The Gas Co.                        Utilities                  $733

CR&R                               Waste                      $492

Orange County Janitorial           Janitorial                 $431

Johnston Supply                    Vendor                     $346

Sign Specialists                   Vendor                     $313

AT&T                               Telephone Service          $207


SCHLUTER FAMILY: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Schluter Family, LP
        10970 Plainview Road
        Krum, TX 76249

Bankruptcy Case No.: 12-43104

Chapter 11 Petition Date: November 13, 2012

Court: U.S. Bankruptcy Court
       Eastern District of Texas (Sherman)

Debtor's Counsel: Gerrit M. Pronske, Esq.
                  PRONSKE & PATEL, P.C.
                  2200 Ross Avenue, Suite 5350
                  Dallas, TX 75201
                  Tel: (214) 658-6501
                  Fax: (214) 658-6509
                  E-mail: gpronske@pronskepatel.com

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

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

The Company did not file a list of creditors together with its
petition.

The petition was signed by Robert Neal Schluter, president.


SEARS HOLDINGS: Completes Partial Spin-Off of Sears Canada
----------------------------------------------------------
Sears Holdings Corporation completed its previously announced
spin-off of a portion of its interest in Sears Canada Inc. (TSX:
SCC).  Sears Holdings distributed approximately 44.5% of the total
issued and outstanding common shares of Sears Canada on a pro rata
basis to holders of Sears Holdings common stock.  Following the
partial spin-off, Sears Holdings has an approximately 51%
ownership interest in Sears Canada.

The partial spin-off was effective at 11:59 p.m. EST on Nov. 13,
2012.  At that time Sears Holdings' stockholders received 0.4283
Sears Canada common shares for every share of Sears Holdings
common stock held as of the close of business on Nov. 1, 2012, the
record date for the spin-off.  The distribution is taxable to
Sears Holdings' stockholders for Canadian and U.S. federal income
tax purposes.

Sears Holdings will continue to be listed on the NASDAQ Global
Select Market under the symbol "SHLD," and Sears Canada will
continue to be listed on the Toronto Stock Exchange under the
symbol "SCC".

                            About Sears

Hoffman Estates, Illinois-based Sears Holdings Corporation
(Nasdaq: SHLD) -- http://www.searsholdings.com/-- is the nation's
fourth largest broadline retailer with more than 4,000 full-line
and specialty retail stores in the United States and Canada.
Sears Holdings operates through its subsidiaries, including Sears,
Roebuck and Co. and Kmart Corporation.  Sears Holdings also owns a
94% stake in Sears Canada and an 80.1% stake in Orchard Supply
Hardware.  Key proprietary brands include Kenmore, Craftsman and
DieHard, and a broad apparel offering, including such well-known
labels as Lands' End, Jaclyn Smith and Joe Boxer, as well as the
Apostrophe and Covington brands.  It also has the Country Living
collection, which is offered by Sears and Kmart.

Kmart Corporation and 37 of its U.S. subsidiaries filed voluntary
Chapter 11 petitions (Bankr. N.D. Ill. Lead Case No. 02-02474) on
Jan. 22, 2002.  Kmart emerged from chapter 11 protection on May 6,
2003, pursuant to the terms of an Amended Joint Plan of
Reorganization.  John Wm. "Jack" Butler, Jr., Esq., at Skadden,
Arps, Slate, Meagher & Flom, LLP, represented the retailer in its
restructuring efforts.  The Company's balance sheet showed
$16,287,000,000 in assets and $10,348,000,000 in debts when it
sought chapter 11 protection.  Kmart bought Sears, Roebuck & Co.,
for $11 billion to create the third-largest U.S. retailer, behind
Wal-Mart and Target, and generate $55 billion in annual revenues.
Kmart completed its merger with Sears on March 24, 2005.

The Company's balance sheet at July 28, 2012, showed $21.18
billion in total assets, $16.68 billion in total liabilities and
$4.49 billion in total equity.

                         Negative Outlook

Standard & Poor's Ratings Services in January 2012 lowered its
corporate credit rating on Hoffman Estates, Ill.-based Sears
Holdings Corp. to 'CCC+' from 'B'.  "We removed the rating from
CreditWatch, where we had placed it with negative implications on
Dec. 28, 2011.  We are also lowering the short-term and commercial
paper rating to 'C' from 'B-2'.  The rating outlook is negative,"
S&P said.

"The corporate credit rating reflects our projection that Sears'
EBITDA will be negative in 2012, given our expectations for
continued sales and margin pressure," said Standard & Poor's
credit analyst Ana Lai.  She added, "We further expect that
liquidity could be constrained in 2013 absent a turnaround
or substantial asset sales to fund operating losses."

Moody's Investors Service in January 2012 lowered Sears Holdings
Family and Probability of Default Ratings to B3 from B1.
The outlook remains negative. At the same time Moody's affirmed
Sears' Speculative Grade Liquidity Rating at SGL-2.

The rating action reflects Moody's expectations that Sears will
report a significant operating loss in fiscal 2011.  Moody's added
that the rating action also reflects the company's persistent
negative trends in sales, which continue to significantly
underperform peers.


SIGNET SOLAR: Files for Chapter 11 in San Francisco
---------------------------------------------------
Signet Solar, Inc., filed a Chapter 11 petition (Bankr. N.D.
Calif. Case No. 12-33270) in San Francisco, California, on
Nov. 16.

Atherton, California-based Signet Solar disclosed $30 million in
assets and $9.79 million in liabilities in its schedules.  The
Debtor's only asset is a cause of action for breach of fiduciary
duty and additional causes of action against Prabhu Goel,
Bhupendra B. Patel, and others.  The company has no secured debt.
A copy of the schedules is available for free at:
http://bankrupt.com/misc/canb12-33270.pdf

The first meeting of creditors under 11 U.S.C. Sec. 341(a) is
scheduled on Dec. 18, 2012, at 1:00 p.m.  Proofs of claim are due
March 18, 2013.


SIGNET SOLAR: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Signet Solar, Inc.
        293 Oak Grove Avenue
        Atherton, CA 94027

Bankruptcy Case No.: 12-33270

Chapter 11 Petition Date: November 16, 2012

Court: U.S. Bankruptcy Court
       Northern District of California (San Francisco)

Judge: Thomas E. Carlson

Debtor's Counsel: Kathryn S. Diemer, Esq.
                  DIEMER, WHITMAN AND CARDOSI
                  75 E. Santa Clara Street
                  San Jose, CA 95113
                  Tel: (408) 971-6270
                  E-mail: kdiemer@diemerwhitman.com

Scheduled Assets: $30,000,000

Scheduled Liabilities: $9,786,994

The petition was signed by Rajeeva Lahri, director and officer.

Debtor's List of Its 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Goel Family Partnership            Convertible Debt     $2,000,000
98 Ridgeview Drive
Atherton, CA 94027

Bhupendra B. Patel                 Promissory Note        $500,000
2 Cowell Lane
Atherton, CA 94027

Prabhu Goel                        Promissory Note        $500,000
98 Ridgeview Drive
Atherton, CA 94027

Rajeeva Lahri                      Promissory Note        $500,000
293 Oak Grove Avenue
Atherton, CA 94027

Green Funds, LLC                   Convertible Debt       $475,000
783 Quailrun Circle
Tracy, CA 95377

Rajeeva Lahri                      Promissory Note        $350,000
293 Oak Grove Avenue
Atherton, CA 94027

White & Case LLP                   Legal Services         $337,145
3000 El Camino Real
Five Palo Alto Square, 9th Floor
Palo Alto, CA 94306

Wilson Sonsini Goodrich and Rosati Legal Services         $333,317
File 73672
P.O. Box 60000
San Francisco, CA 94160

Bhupendra B. Patel                 Convertible Debt       $300,000
2 Cowell Lane
Atherton, CA 94027

Sinfonia International             Promissory Note        $300,000
Assets, Inc.
El Dorado Bulding, Second Floor
52nd and Elvira Mendez Streets
Panama, Republic of Panama

CH2M Hill                          Services               $214,842

Sales Chasm Solutions              Vendor                 $209,794

Bhupendra B. Patel                 Promissory Note        $200,000

Prabhu Goel                        Promissory Note        $200,000

Prabhu Goel                        Promissory Note        $200,000

Rajeeva Lahri                      Promissory Note        $200,000

Suresh C. Patel                    Promissory Note        $200,000

Goel Family Partnership            Promissory Note        $150,000

Rajeeva Lahri                      Promissory Note        $150,000

Sinfonia International             Convertible Debt       $150,000
Assets, Inc.


SOLYNDRA LLC: Seagate Approved to Buy Fremont Plant
---------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
relates that Seagate Technology Plc won court approval to buy the
Fremont, California, plant that belongs to Solyndra LLC, the
liquidating solar-panel maker.  As approved Thursday by the
bankruptcy judge in Wilmington, Delaware, the purchase price is
$90.3 million.

                        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.

Solyndra filed a liquidating plan at the end of July and scheduled
a hearing on Sept. 7 for approval of the explanatory disclosure
statement.  The Plan is designed to pay 2.5% to 6% to unsecured
creditors with claims totaling as much as $120 million. Unsecured
creditors with $27 million in claims against the holding company
are projected to have a 3% dividend.

Solyndra on Nov. 7 implemented the Chapter 11 reorganization plan
that the bankruptcy court approved with an Oct. 22 confirmation
order.  The Internal Revenue Service is appealing confirmation,
although it failed on two occasions to halt implementation of the
plan pending appeal.


SPEEDEMISSIONS INC: Incurs $88,900 Net Loss in Third Quarter
------------------------------------------------------------
Speedemissions, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $88,974 on $2.04 million of revenue for the three months ended
Sept. 30, 2012, compared with a net loss of $9,132 on $2.16
million of revenue for the same period during the prior year.

The Company reported a net loss of $281,723 on $5.95 million of
revenue for the nine months ended Sept. 30, 2012, compared with a
net loss of $245,551 on $6.42 million of revenue for the same
period a year ago.

The Company reported a net loss of $1.6 million on $8.3 million of
revenue for 2011, compared with a net loss of $2.2 million on
$9.3 million of revenue for 2010.

The Company's balance sheet at Sept. 30, 2012, showed $2.15
million in total assets, $978,772 in total liabilities, $4.57
million in series A convertible, redeemable preferred stock, and a
$3.40 million total shareholders' deficit.

After auditing the 2011 results, Habif, Arogeti & Wynne, LLP, in
Atlanta, Georgia, expressed substantial doubt about
Speedemissions' ability to continue as a going concern.  The
independent auditors noted that the Company has suffered recurring
losses from operations and has a capital deficiency.

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

                         http://is.gd/PyLVJ6

Tyrone, Georgia-based Speedemissions, Inc., is a test-only
emissions testing and safety inspection company.


STANFORD INT'L: Receiver Sues Two Former Law Firms
--------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
relates that the receiver for R. Allen Stanford sued two law firms
that represented the convicted Ponzi schemer.  The lawsuit, filed
in U.S. District Court in Dallas, seeks to recover $10 million in
legal fees and $7 billion in damages.  The case is Janvey v.
Greenberg Traurig, 12-cv-4641, U.S. District Court, Northern
District of Texas (Dallas).

                 About Stanford International Bank

Domiciled in Antigua, Stanford International Bank Limited --
http://www.stanfordinternationalbank.com/-- is a member of
Stanford Private Wealth Management, a global financial services
network with US$51 billion in deposits and assets under
management or advisement.  Stanford Private Wealth Management
serves more than 70,000 clients in 140 countries.

On Feb. 16, 2009, the United States District Court for the
Northern District of Texas, Dallas Division, signed an order
appointing Ralph Janvey as receiver for all the assets and
records of Stanford International Bank, Ltd., Stanford Group
Company, Stanford Capital Management, LLC, Robert Allen Stanford,
James M. Davis and Laura Pendergest-Holt and of all entities they
own or control.  The February 16 order, as amended March 12,
2009, directs the Receiver to, among other things, take control
and possession of and to operate the Receivership Estate, and to
perform all acts necessary to conserve, hold, manage and preserve
the value of the Receivership Estate.


STARKVILLE COMMERCIAL: Voluntary Chapter 11 Case Summary
--------------------------------------------------------
Debtor: Starkville Commercial Enterprises, LLC
        217 East Main Street
        Starkville, MS 39759

Bankruptcy Case No.: 12-14885

Chapter 11 Petition Date: November 13, 2012

Court: U.S. Bankruptcy Court
       Northern District of Mississippi (Aberdeen)

Debtor's Counsel: Craig M. Geno, Esq.
                  LAW OFFICES OF CRAIG M. GENO, PLLC
                  P.O. Box 3380
                  Ridgeland, MS 39158-3380
                  Tel: (601) 427-0048
                  E-mail: cmgeno@cmgenolaw.com

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

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

The Company did not file a list of creditors together with its
petition.

The petition was signed by Gary Richard, managing member.


STEVE PATTERSON: Case Summary & Unsecured Creditor
--------------------------------------------------
Debtor: Steve Patterson, LLC
        dba Dunbar Stone
        300 Pechin Road
        Dunbar, PA 15431

Bankruptcy Case No.: 12-25582

Chapter 11 Petition Date: November 12, 2012

Court: United States Bankruptcy Court
       Western District of Pennsylvania (Pittsburgh)

Judge: Judith K. Fitzgerald

Debtor's Counsel: Daniel R. White, Esq.
                  ZEBLEY MEHALOV & WHITE, P.C.
                  18 Mill Street Square
                  P.O. Box 2123
                  Uniontown, PA 15401
                  Tel: (724) 439-9200
                  Fax: (724) 439-8435
                  E-mail: dwhite@zeblaw.com

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

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

The Company's list of 20 largest unsecured creditors contains only
one entry:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Richard E. Bower, Esq.    Legal services         $78,000
517 West Crawford Avenue
Connellsville, PA 15425

The petition was signed by Steven J. Patterson, sole member.


SUNSET MARINE: Case Summary & 8 Unsecured Creditors
---------------------------------------------------
Debtor: Sunset Marine of Puerto Rico, Inc.
        dba Sunset Marine Charters
        PMB 224
        35 JC Borbon, Suite 67
        Guaynabo, PR 00969

Bankruptcy Case No.: 12-09083

Chapter 11 Petition Date: November 14, 2012

Court: United States Bankruptcy Court
       District of Puerto Rico (Old San Juan)

Debtor's Counsel: Juan Manuel Suarez Cobo, Esq.
                  LEGAL PARTNERS PSC
                  138 Winston Churchill Ave., Suite 316
                  San Juan, PR 00926-6023
                  Tel: (787) 791-1818
                  Fax: (787) 791-4260
                  E-mail: suarezcobo@gmail.com

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

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

A copy of the Company's list of its eight unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/prb12-09083.pdf

The petition was signed by Juan Carlos Nieto Rodriguez, president.


SWORDFISH FINANCIAL: Delays Form 10-Q for Third Quarter
-------------------------------------------------------
Swordfish Financial, Inc., has encountered a delay in assembling
the information, in particular its financial statements for the
quarter ended Sept. 30, 2012, required to be included in its
Form 10-Q quarterly report.  The Company expects to file its
Sept. 30, 2012, Form 10-Q with the U.S. Securities and Exchange
Commission within 5 calendar days of the prescribed due date.

                     About Swordfish Financial

Rockwall, Tex.-based Swordfish Financial, Inc., formerly Nature
Vision, Inc., designed, manufactured and marketed outdoor
recreation products primarily for the sport fishing and hunting
markets.  Based on the limited assets, product lines and resources
remaining after the M&I Business Credit LLC liquidation, Swordfish
Financial, Inc. has decided that there is not enough remaining of
the Nature Vision operations to continue as an outdoor
recreations products company and will concentrate on the business
on being an asset recovery company and using the financial
resources recovered to retire the Company's debts and invest in
other businesses domestically and internationally.

After auditing the 2011 financial statements, Patrick Rodgers,
CPA, PA, in Altamonte Springs, FL, expressed substantial doubt
about the Company's ability to continue as a going concern.  The
independent auditors noted that the company has suffered recurring
losses from operations and negative cash flows from operations the
past three years.

The Company reported a net loss of $1.36 million on $0 of sales in
2011, compared with a net loss of $2.69 million on $0 of sales in
2010.

The Company's balance sheet at March 31, 2012, showed $3.97
million in total assets, $5.89 million in total liabilities and a
$1.91 million total stockholders' deficit.


SYNAGRO TECHNOLOGIES: Seeks Waiver From Senior Lenders
------------------------------------------------------
Synagro Technologies, Inc. continues to make progress in
discussions with its senior lenders to address its senior credit
facility and strengthen its balance sheet.

The Company and its senior lenders are engaged in productive
discussions on the terms of a waiver to provide relief from
certain covenants included in its current credit facility as part
of ongoing efforts to restructure the Company's debt profile.  The
Company is seeking to have the waiver address the third quarter of
2012 and prior periods, as well as certain potential defaults that
may arise in the fourth quarter.  Subject to such additional terms
and conditions which may be contained in the final waiver
agreement, the Company is requesting the lenders to forbear from
exercising default-related remedies arising from the breach of the
Company's required leverage ratio test and other provisions of the
Company's credit agreement while the parties continue to work on
efforts to restructure the Company's debt profile.  Based on the
productive nature of these talks, the Company anticipates reaching
an agreement in a timely manner.

"We are working diligently on the terms of a waiver with our
senior lenders, which will allow us to have the necessary time to
continue to work with our constituents to strengthen our balance
sheet.  Our discussions remain focused on alternatives that
strengthen Synagro for the benefit of our employees, customers,
partners and the communities we serve," said Eric Zimmer, the
Company's President and CEO.  "Synagro remains squarely focused on
serving our customers, and providing industry leading biosolids
management solutions every day."

                     About Synagro Technologies

Synagro Technologies, Inc., based in Houston, Texas, is a recycler
of bio-solids and other organic residuals in the U.S. At June 30,
2012 trailing twelve month revenues were $318 million and the
total debt balance was $532 million. The company is majority-owned
by entities of The Carlyle Group.

In August 2012, Moody's Investors Service lowered the ratings of
Synagro Technologies, including the corporate family rating to
Caa3 from Caa2. The rating outlook is negative.

Moody's said the Caa3 corporate family rating reflects very high
financial leverage against a material amount of near-term debt
maturities and weak liquidity. Synagro's revolving credit line
expires in about eight months and more than $70 million of
borrowings exist under the line, a substantial obligation in light
of the company's limited near-term cash flow prospects and an
existing cash on hand of only about $25 million. Likelihood of a
financial ratio covenant breach before the revolving credit line
expires also factors into the rating. Additionally, the April 2014
maturity on the first lien term loan will likely prevent the
company from negotiating a material extension to its revolver in
the absence of a complete refinancing of the capital structure.


TARGUS GROUP: Moody's Says Sena Acquisition Credit Negative
-----------------------------------------------------------
Moody's Investors Service said Targus' acquisition of Sena is
modestly credit negative in the immediate term given the likely
increase in debt leverage, but has no rating impact. Over the
medium-to-long term, EBITDA generated from Sena will result in
deleveraging.

Targus Group International, Inc., based in Anaheim, California,
designs, develops, and sells cases and accessories for mobile
electronic devices, including laptop computers, iPads and other
tablets and electronic readers. The company sells its products to
original equipment manufacturers (OEM), third-party distributors,
and retailers in over 100 countries. Revenues are over $500
million. The company's fiscal year ends on September 30. Targus is
privately owned by a syndicate of financial institutions.


TEARLAB CORP: Reports $4.6-Mil. Net Loss in Third Quarter
---------------------------------------------------------
TearLab Corporation filed its quarterly report on Form 10-Q,
reporting a net loss of $4.6 million on $1.2 million of revenue
for the three months ended Sept. 30, 2012, compared with net
income of $1.1 million on $333,000 of revenue for the comparable
period last year.

For the nine months ended Sept. 30, 2012, the Company had a net
loss of $15.7 million on $2.3 million of revenue, compared with a
net loss of $5.3 million on $1.6 million of revenue for the same
period in 2011.

For the three and nine month periods ended Sept. 30, 2012, the
Company recorded an expense of $929,000 and $7.0 million,
respectively, related to changes in the fair value of warrant
obligations, while recording income of $3.3 million and $791,000
for the three and nine months ended Sept. 30, 2011, respectively.

The Company's balance sheet at Sept. 30, 2012, showed
$26.6 million in total assets, $8.4 million in total current
liabilities, and stockholders' equity of $18.2 million.

The Company has incurred losses in each year since its inception.
As of Sept. 30, 2012, the Company had an accumulated deficit of
$403.2 million.

As reported in the TCR on April 9, 2012, Ernst & Young LLP, in San
Diego, California, expressed substantial doubt about TearLab's
ability to continue as a going concern.  The independent auditors
noted that of the Company's recurring losses from operations and
working capital deficit.

A copy of the Form 10-Q is available at http://is.gd/LgLdK7

San Diego-Calif.-based TearLab Corporation is an in vitro
diagnostic company that has developed a proprietary tear testing
platform, the TearLab(R) Osmolarity System.  The TearLab test
measures tear film osmolarity for diagnosis of Dry Eye Disease, or
DED.




TEXAS WYOMING: 5th Circuit Continues Redefining United Operating
----------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the U.S. Court of Appeals in New Orleans continued
the process of redefining how specific a Chapter 11 plan must be
to ensure that lawsuits can be prosecuted after a company emerges
from reorganization.

The report relates that among all the U.S. Courts of Appeal, the
Fifth Circuit in New Orleans had the most stringent rule from a
case known as United Operating requiring that the description of
post-confirmation lawsuits must be "specific and unequivocal."
The newest decision was handed down Nov. 14 by Circuit Judge
Harold R. DeMoss Jr.

According to the report, the appeal involved a post-confirmation
lawsuit which the bankruptcy court dismissed in an opinion written
before the Fifth Circuit ruled last year in a case known as Texas
Wyoming Drilling.  Judge DeMoss reversed the bankruptcy court and
reinstated the lawsuit.  The appeal had been taken directly to the
Court of Appeals.  Surveying Fifth Circuit law, Judge DeMoss said
the description of the suit was sufficiently specific to pass
muster under the two leading cases because the plan said that any
avoidance action that "may exist" was preserved.  In addition, the
plan listed the potential defendants by name.

Judge DeMoss, the report relates, said that the plan gave more
definition to preserved lawsuits than Texas Wyoming Drilling
requires.

The Fifth Circuit in New Orleans takes appeals from Texas,
Mississippi and Louisiana.

The case is Compton v. Anderson (In re MPF Holdings U.S. LLC),
11-20478, U.S. Court of Appeals for the Fifth Circuit (New
Orleans).

                   About Texas Wyoming Drilling

Drilling contractor and service company Texas Wyoming Drilling,
Inc. -- http://www.texaswyoming.com-- sought Chapter 11
protection (Bankr. N.D. Tex. Case No. 07-41650) on Apr. 16, 2007;
is represented by Jeffery D. Carruth, Esq., Mark A. Castillo,
Esq., and Stephanie Diane Curtis, Esq., at The Curtis Law Firm,
P.C., in Dallas, Tex.; and estimated its assets and debts at more
than $1 million to $100 million at the time of the filing.

The Bankruptcy Court confirmed Texas Wyoming's Chapter 11 plan on
Nov. 13, 2008, and that plan was declared effective before the end
of the year.  The Reorganized Debtor commenced post-confirmation
litigation (Bankr. N.D. Tex. Adv. Pro. No. 09-04015) on Apr. 29,
2009, against recipients of dividends, asserting that dividend
payments were avoidable as fraudulent transfers.  On July 14,
2009, following a material default under the chapter 11 plan, the
Court, sua ponte based on 11 U.S.C. Sec. 1112(b)(4)(N), converted
the Reorganized Debtor's chapter 11 case to a Chapter 7
proceeding, and the U.S. Trustee appointed John Dee Spicer to
serve as the Chapter 7 Trustee.  The recipients moved for summary
judgment, arguing, inter alia, that debtor lacked standing to
pursue the avoidance claims.  The Honorable Dennis Michael Lynn
disagrees, and gave Mr. Spicer the green light to pursue his
claims against the recipients.


THERAPEUTICSMD INC: Incurs $4.2 Million Net Loss in 3rd Quarter
---------------------------------------------------------------
TherapeuticsMD, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $4.25 million on $1.03 million of net revenues for the three
months ended Sept. 30, 2012, compared with a net loss of $1.48
million on $539,572 of net revenues for the same period during the
prior year.

The Company reported a net loss of $29.39 million on $2.57 million
of net revenues for the nine months ended Sept. 30, 2012, compared
with a net loss of $3.32 million on $1.53 million of net revenues
for the same period a year ago.

The Company's balance sheet at Sept. 30, 2012, showed $3.51
million in total assets, $7.84 million in total liabilities and a
$4.33 million total stockholders' deficit.

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

                        http://is.gd/iGXJKX

                       About TherapeuticsMD

Boca Raton, Fla.-based TherapeuticsMD, Inc., is a specialty
pharmaceutical company focused on the sales, marketing and
development of branded and generic pharmaceutical and OTC products
primarily for the women's healthcare market.  The Company's
products are designed to improve the health and well-being of
women from pregnancy through menopause while using information
technology to lower costs for the Patient, Physician and Payor.

As reported in the TCR on April 2, 2012, Rosenberg Rich Baker
Berman & Company, in Somerset, N.J., expressed substantial doubt
about TherapeuticsMD, Inc.'s ability to continue as a going
concern, following the Company's results for the fiscal year ended
Dec. 31, 2011.  The independent auditors noted that the Company
has suffered a loss from operations of approximately $5.4 million
and had negative cash flow from operations of approximately
$5.0 million.


TRANS USA: Voluntary Chapter 11 Case Summary
--------------------------------------------
Debtor: Trans USA Products Inc.
        101 Bank Street
        Hightstown, NJ 08520

Bankruptcy Case No.: 12-36884

Chapter 11 Petition Date: November 13, 2012

Court: U.S. Bankruptcy Court
       District of New Jersey (Trenton)

Judge: Kathryn C. Ferguson

Debtor's Counsel: Vincent Commisa, Esq.
                  20 Manger Road
                  West Orange, NJ 07052
                  Tel: (973) 821-7722
                  Fax: (973) 521-5121
                  E-mail: vcommisa@vdclaw.com

Estimated Assets: $0 to $50,000

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

The Company did not file a list of creditors together with its
petition.

The petition was signed by Eddy Chow, president.


TRIAD GUARANTY: Incurs $33.3 Million Net Loss in Third Quarter
--------------------------------------------------------------
Triad Guaranty Inc. filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $33.33 million on $32.28 million of revenue for the three
months ended Sept. 30, 2012, compared with a net loss of $37.52
million on $58.42 million of revenue for the same period during
the prior year.

Triad Guaranty reported a net loss of $102.36 million on $119.06
million of revenue for the nine months ended Sept. 30, 2012,
compared with a net loss of $46.83 million on $150.20 million of
revenue for the same period a year ago.

The Company reported a net loss of $107.77 million in 2011,
compared with net income of $132.09 million in 2010.

The Company's balance sheet at Sept. 30, 2012, showed $820.59
million in total assets, $1.62 billion in total liabilities and a
$802.78 million deficit in assets.

               Going Concern/Bankruptcy Warning

"The Company has prepared its financial statements on a going
concern basis under GAAP, which contemplates the realization of
assets and the satisfaction of liabilities and commitments in the
normal course of business.  However, there is substantial doubt as
to the Company's ability to continue as a going concern.  This
uncertainty is based on, among other things, Triad's current non-
compliance with a provision of the second Corrective Order, the
possible failure of Triad to comply with other provisions of the
Corrective Orders, and the Company's ability to generate enough
income over the term of the remaining run-off to overcome its
$802.8 million deficit in assets at September 30, 2012."

The positive impact on statutory surplus resulting from the second
Corrective Order has resulted in Triad reporting a policyholders'
surplus in its SAP financial statements of $224.1 million at
Sept. 30, 2012, as opposed to a deficiency in policyholders'
surplus of $834.5 million on the same date had the second
Corrective Order not been implemented.  While the implementation
of the second Corrective Order has deferred the institution of an
involuntary receivership proceeding, no assurance can be given
that the Department will not seek receivership of Triad in the
future and there continues to be substantial doubt about the
Company's ability to continue as a going concern.

The Department may seek receivership of Triad based on Triad's
current non-compliance with a provision of the second Corrective
Order or for any other violation of the Illinois Insurance Code.
Moreover, if the Department determines that Triad is insolvent
under applicable law, it would be required to institute a
receivership proceeding over Triad.  In addition, the Department
retains the inherent authority to institute such proceedings
against Triad for any reason and Triad has previously agreed not
to contest the taking of any such actions.

As of Nov. 14, 2012, the Department has not issued any final
decision or order as a result of the public hearing and Triad's
request to amend the second Corrective Order.  Because the subject
matter of the hearing specifically included an assessment of
whether the Department should implement a different regulatory
approach with respect to Triad, including institution of
receivership proceedings for the conservation, rehabilitation or
liquidation of Triad, the Company believes institution of such a
proceeding could be imminent.  If this should occur, among other
things, TGI could lose control of Triad and could be forced to
deconsolidate its financial statements.  Any such actions would
likely lead TGI to institute a proceeding seeking relief from
creditors under U.S. bankruptcy laws, or take other steps to wind
up its business and liquidate.  See Item 1A, "Risk Factors" in the
Company's Annual Report on Form 10-K for the year ended December
31, 2011 for more information.

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

                        http://is.gd/na8hBa

                        About Triad Guaranty

Winston-Salem, N.C-based Triad Guaranty Inc. (OTC BB: TGIC)
-- http://www.triadguaranty.com/-- is a holding company that
historically provided private mortgage insurance coverage in the
United States through its wholly-owned subsidiary, Triad Guaranty
Insurance Corporation.  TGIC is a nationwide mortgage insurer
pursuing a run-off of its existing in-force book of business.


UNIVERSITY OF NORTHERN CALIF.: Case Summary & Creditors' List
-------------------------------------------------------------
Debtor: The University of Northern California, a California non
          profit public benefit corporation
        fka Northern California University at Marin
        1304 Southpoint Boulevard, Suite 101
        Petaluma, CA 94954

Bankruptcy Case No.: 12-12986

Chapter 11 Petition Date: November 13, 2012

Court: U.S. Bankruptcy Court
       Northern District of California (Santa Rosa)

Judge: Alan Jaroslovsky

Debtor's Counsel: John H. MacConaghy, Esq.
                  MACCONAGHY AND BARNIER, PLC
                  645 1st Street W #D
                  Sonoma, CA 95476
                  Tel: (707) 935-3205
                  E-mail: macclaw@macbarlaw.com

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

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

A copy of the Company's list of its seven unsecured creditors
filed with the petition is available for free at:
http://bankrupt.com/misc/canb12-12986.pdf

The petition was signed by Y. King Liu, president.


US AIRWAYS: FA Conduct Nationwide Protest, Strike Vote Underway
---------------------------------------------------------------
US Airways Flight Attendants, represented by the Association of
Flight Attendants-CWA (AFA), held protests at four airports across
the country after management failed to negotiate a single contract
for the over 6,700 Flight Attendants.  The America West/US Airways
merger of 2005 remains incomplete and Flight Attendants are still
working under separate contracts, in separate operations.

While US Airways Flight Attendants protested in unison today,
results from the current strike vote will be announced in less
than a week.  The strike authorization, which concludes on
November 20, demonstrates what Flight Attendants are willing to do
to achieve a contract that can be ratified.

"Flight Attendants are fed up and taking action to keep the focus
on the current workers at US Airways. Doug Parker needs to tend to
the unresolved issues at the nation's fifth largest, but
fractured, airline before seeking a takeover of American.  We
sacrificed and we work hard every day to make this airline
profitable and it is high time management get serious about
finishing this merger and recognizing frontline workers," said
Roger Holmin and Deborah Volpe, presidents for AFA representing
Flight Attendants for pre-merger US Airways and America West,
respectively.

While US Airways profits soar, pre-merger America West Flight
Attendants haven't seen contract improvements since 1999 and pre-
merger US Airways Flight Attendants continue to work under a
contract they reached during the airline's bankruptcy.

"Parker has his eyes on a new merger with American Airlines, but
he needs to tend to the unfinished business of this merger first
and work with current US Airways employees who have delivered
record profits.  For a new merger forming the largest airline in
the world to be successful, it will take the support of all of the
workers involved, including US Airways Flight Attendants," added
Holmin and Volpe.

US Airways Flight Attendants would utilize AFA's trademarked
CHAOS(TM) tactics in the event of a strike. CHAOS stands for
Create Havoc Around Our System(TM), which includes intermittent
strikes called without warning to management or the traveling
public.

The Association of Flight Attendants -- http://ww.ourafa.org/--
is the world's largest Flight Attendant union.  Focused 100
percent on Flight Attendant issues, AFA has been the leader in
advancing the Flight Attendant profession for 67 years.


VERIS GOLD: Reports $9-Mil. Net Income in Third Quarter
-------------------------------------------------------
Veris Gold Corp., formerly Yukon-Nevada Gold Corp., reported net
income of US$9.0 million in the third quarter of 2012 compared to
a loss of US$18.0 million in the third quarter of 2011.  The net
income in the quarter is primarily attributable to US$51.5 million
in revenue achieved through the increased gold production.
Revenue was US$30.1 million in the third quarter of 2011.

The Company reported a net loss of US$7.1 million on
US$108.8 million of revenue for the nine months ended Sept. 30,
2012, compared with net income of US$33.9 million on
US$77.3 million of revenue for the nine months ended Sept. 30,
2011.

For the three and nine months ended Sept. 30, 2012, a gain on
warrants of US$5.8 million and US$8.3 million was recognized,
respectively (2011 - US$8.6 million and US$96.2 million gain,
respectively).

The Company's balance sheet at Sept. 30, 2012, showed
US$365.0 million in total assets, US$267.4 million in total
liabilities, and shareholders' equity of US$97.6 million.

At Sept. 30, 2012, the Company had a working capital deficiency of
us$66.5 million (Dec. 31, 2011 - US$52.7 million) and an
accumulated deficit of US$366.1 million (Dec. 31, 2011 -
US$358.9 million).

A copy of the condensed consolidated interim financial statements
for the three and nine months ended Sept. 30, 2012, 2011, is
available at http://is.gd/yZiDeT

A copy of the Management Discussion and Analysis for the three and
nine month period ending Sept. 30, 2012, is available at:

                       http://is.gd/ufn7zU

Vancouver, Canada-based Veris Gold Corp. (formerly Yukon-Nevada
Gold Corporation) (TSX: VG) (OCT QB: YNGFD) (Frankfurt Xetra
Exchange: NG6A) is a gold metal producer engaged in the mining,
exploration and development of mineral properties located in
Canada and the United States.  The Company's primary asset is the
permitted and operating Jerritt Canyon gold mine located 50 miles
north of Elko, Nevada.  The Company also holds a diverse portfolio
of precious metals properties in British Columbia and the Yukon
Territory, Canada, including the former producing Ketza River
mine.

                           *     *     *

As reported in the TCR on April 9, 2012, Deloitte & Touche LLP, in
Vancouver, Canada, said that the Company has incurred net losses
over the past several years and, as of Dec. 31, 2011, has a
working capital deficit in the amount of US$52.7 million and an
accumulated deficit of US$358.9 million.  "These conditions
indicate the existence of material uncertainties that may cast
substantial doubt about the Company's ability to continue as a
going concern."


VIPER POWERSPORTS: Incurs $1.2-Mil. Net Loss in Third Quarter
-------------------------------------------------------------
Viper Powersports Inc. filed its quarterly report on Form 10-Q,
reporting a net loss of $1.2 million on $370,274 of revenue for
the three months ended Sept. 30, 2012, compared with a net loss of
$1.5 million on $166,166 of revenue for the prior year period.

For the nine months ended Sept. 30, 2012, the Company had a net
loss of $4.4 million on $655,073 of revenue, compared with a net
loss of $3.2 million on $204,901 of revenue for the prior year
period.

The Company's balance sheet at Sept. 30, 2012, showed $4.8 million
in total assets, $4.1 million in total liabilities, and
stockholders' equity of $662,309.

According to the regulatory filing, the Company has a positive
working capital position of $621,424 as of Sept. 30, 2012.
"However, future current cash and cash available may not be
sufficient to fund operations beyond a short period of time."

Child, Van Wagoner & Bradshaw, PLLC, in Salt Lake City, Utah,
expressed substantial doubt about Viper Powersports' ability to
continue as a going concern, following their audit of the
Company's financial statements for the fiscal year ended Dec. 31,
2011.  The independent auditors noted that the Company has
incurred losses from operations, has a liquidity problem, and
requires additional funds for its operational activities.

A copy of the Form 10-Q is available at http://is.gd/O3INy5

Viper Powersports Inc., headquartered in Auburn, Alabama, develops
and produces proprietary premium motorcycle products targeted to
consumers who can afford to purchase upscale luxury products.


VOTVOT INC: Case Summary & 4 Unsecured Creditors
------------------------------------------------
Debtor: Votvot, Inc.
        3317 Avenue N
        Brooklyn, NY 11237

Bankruptcy Case No.: 12-47878

Chapter 11 Petition Date: November 14, 2012

Court: United States Bankruptcy Court
       Eastern District of New York (Brooklyn)

Judge: Nancy Hershey Lord

Debtor's Counsel: Kevin J. Nash, Esq.
                  GOLDBERG WEPRIN FINKEL GOLDSTEIN LLP
                  1501 Broadway, 22nd Floor
                  New York, NY 10036
                  Tel: (212) 301-6944
                  Fax: (212) 422-6836
                  E-mail: KNash@gwfglaw.com

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

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

A copy of the Company's list of its four unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/nyeb12-47878.pdf

The petition was signed by Yehuda Nelkenbaum, president.


VISUALANT INC: PMB Helin Discloses Going Concern Doubt
------------------------------------------------------
Visualant, Inc., filed on Nov. 13, 2012, its annual report on Form
10-K for the fiscal year ended Sept. 30, 2012.

PMB Helin Donovan, LLP, in Seattle, Washington, expressed
substantial doubt about Visualant, Inc.'s ability to continue as a
going concern.  The independent auditors noted that the Company
has sustained a net loss from operations and has an accumulated
deficit since inception.

The Company reported a net loss of $2.7 million on $7.9 million of
revenue in fiscal 2012, compared with a net loss of $2.4 million
on $9.1 million of revenue in fiscal 2011.

The Company's balance sheet at Sept. 30, 2012, showed $5.3 million
in total assets, $5.1 million in total liabilities, and
stockholders' equity of $202,423.

A copy of the Form 10-K is available at http://is.gd/7xCPLH

Seattle, Washington-based Visualant, Inc., has developed a unique
patented Visualant Spectral Pattern Matching(TM) "SPM" technology.
This technology directs structured light onto a physical substance
to capture a Visualant Spectral Signature(TM) called a
ChromaID(TM).  When matched against existing databases, the
ChromaID can be used to identify, detect, or diagnose markers
invisible to the human eye.  ChromaID scanners can be integrated
into a variety of mobile or fixed-mount form factors, making it
possible to effectively conduct analyses in the field that could
only previously be performed by large and expensive lab-based
tests.

Through its wholly owned subsidiary, TransTech based in Aurora,
Oregon, Visualant provides value added security and authentication
solutions to corporate and government security and law enforcement
markets throughout the United States.

The Company's common stock trades on the OTC BB Exchange under the
symbol "VSUL."


VR1 HOSPITALITY: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: VR1 Hospitality, LLC
        dba Econo Lodge Airport
        3037 E Van Buren St.
        Phoenix, AZ 85008

Bankruptcy Case No.: 12-24742

Chapter 11 Petition Date: November 14, 2012

Court: United States Bankruptcy Court
       District of Arizona (Phoenix)

Judge: George B. Nielsen Jr.

Debtor's Counsel: Dean M. Dinner, Esq.
                  NUSSBAUM GILLIS & DINNER, P.C.
                  14850 N. Scottsdale Road, Suite 450
                  Scottsdale, AZ 85254
                  Tel: (480) 609-0011
                  Fax: (480) 609-0016
                  E-mail: ddinner@ngdlaw.com

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

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

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

The petition was signed by Rakesh Bhakta, general manager.


W.R. GRACE: Files Post-Confirmation Report for Third Quarter
------------------------------------------------------------
W.R. Grace & Co. and its debtor affiliates filed a post-
confirmation quarterly summary report for the quarter ended
Sept. 30, 2012, disclosing that at the end of the quarter, it had
$904,355,329 in cash and disbursements totaling $946,360,508,
composed of $520,278 for administrative claims of bankruptcy
professionals and $948,840,230 for disbursements made in the
ordinary course.

A full-text copy of the Post-Confirmation Report for the quarter
ended Sept. 30, 2012, is available for free at:

           http://bankrupt.com/misc/gracesept2012pcr.pdf

                          About W.R. Grace

Headquartered in Columbia, Maryland, W.R. Grace & Co. (NYSE:GRA)
-- http://www.grace.com/-- supplies catalysts and silica
products, especially construction chemicals and building
materials, and container products globally.

The company and its debtor-affiliates filed for chapter 11
protection on April 2, 2001 (Bankr. D. Del. Case No. 01-01139).
David M. Bernick, P.C., Esq., at Kirkland & Ellis, LLP, and Laura
Davis Jones, Esq., at Pachulski Stang Ziehl & Jones, LLP,
represent the Debtors in their restructuring efforts.  The Debtors
hired Blackstone Group, L.P., for financial advice.
PricewaterhouseCoopers LLP is the Debtors' accountant.

Stroock & Stroock & Lavan, LLP, and Duane Morris, LLP, represent
the Official Committee of Unsecured Creditors.  The Creditors
Committee tapped Capstone Corporate Recovery LLC for financial
advice.  David T. Austern, the legal representative of future
asbestos personal injury claimants, is represented by Orrick
Herrington & Sutcliffe LLP and Phillips Goldman & Spence, PA.
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, and Marla
R. Eskin, Esq., at Campbell & Levine, LLC, represent the Official
Committee of Asbestos Personal Injury Claimants.  The Asbestos
Committee of Property Damage Claimants tapped Scott Baena, Esq.,
and Jay M. Sakalo, Esq., at Bilzin Sumberg Baena Price & Axelrod,
LLP, to represent it.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel, LLP, represents the Official Committee of
Equity Security Holders.

W.R. Grace obtained confirmation of a plan co-proposed with the
Official Committee of Asbestos Personal Injury Claimants, the
Official Committee of Equity Security Holders, and the Asbestos
Future Claimants Representative.   The Chapter 11 plan is built
around an April 2008 settlement for all present and future
asbestos personal injury claims, and a subsequent settlement for
asbestos property damage claims.  Implementation of the Plan has
been held up by appeals in District Court from various parties,
including a group of prepetition bank lenders and the Official
Committee of Unsecured Creditors.

District Judge Ronald Buckwalter on Jan. 31, 2012, entered an
order affirming the bankruptcy court's confirmation of W.R. Grace
& Co. and its debtor affiliates' Plan of Reorganization.
Bankruptcy Judge Judith Fitzgerald had approved the Plan on
Jan. 31, 2011.

On April 20, 2012, the company filed a motion with the Bankruptcy
Court to approve definitive agreements among itself, co-proponents
of the Plan, BNSF railroad, several insurance companies and the
representatives of Libby asbestos personal injury claimants, to
settle objections to the Plan.  Pursuant to the agreements, the
Libby claimants and BNSF would forego any further appeals to the
Plan.

Bankruptcy Creditors' Service, Inc., publishes W.R. Grace
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by W.R. Grace, W.R. Grace Co. - Conn. and their
affiliates. (http://bankrupt.com/newsstand/or 215/945-7000)


W.R. GRACE: CEO Remains Positive on Outcome of Plan Appeals
-----------------------------------------------------------
W.R. Grace & Co. Chief Executive Officer Fred Festa remains
positive on the outcome of the appeals from the Company's Chapter
11 Plan of Reorganization now pending before the U.S. Court of
Appeals for the Third Circuit.

During the conference on Grace's third quarter financial results
earlier this month, Mr. Festa indicated that there are currently
five appeals pending after three appeals were withdrawn as a
result of the settlement entered into by Grace and claimants
relating to asbestos claims in Libby, Montana.  Mr. Festa added
that they are in the middle of the briefing schedule, which will
be completed by year-end.  The Third Circuit is expected to hear
oral arguments in the first quarter of 2013.

Grace projects that it could complete its reorganization by the
end of 2013 if the proceedings on the appeals conclude as
scheduled, Aviva Gat of The Deal Pipeline reported.

Mr. Festa emphasized that Grace's Chapter 11 proceeding was not
and will not be a hindrance for its strategic plans and business
operations.  He added that the fourth quarter of 2013 is the most
realistic timing for mergers.  He, however, pointed out that the
only real impact the Chapter 11 has is on the Company's ability
to return cash to shareholders.

Patrick Duff, an analyst at Gilder Gagnon Howe & Co. asked Mr.
Festa whether Grace's non-emergence from bankruptcy in the fourth
quarter of 2013 would have an impact on the Company's 2014
objectives.  Mr. Festa replied that it would not have an impact
on the Company's objectives elaborating that what the Company is
not able to do is pay a dividend or buy a share back to return
cash that way but the Company's cash to turn its balance sheet to
be able to use strategically for investments, acquisitions that
has not been impacted.  Mr. Festa said there won't be any
negative impact whether the emergence occurs in the fourth
quarter or the first quarter of 2014.

                          About W.R. Grace

Headquartered in Columbia, Maryland, W.R. Grace & Co. (NYSE:GRA)
-- http://www.grace.com/-- supplies catalysts and silica
products, especially construction chemicals and building
materials, and container products globally.

The company and its debtor-affiliates filed for chapter 11
protection on April 2, 2001 (Bankr. D. Del. Case No. 01-01139).
David M. Bernick, P.C., Esq., at Kirkland & Ellis, LLP, and Laura
Davis Jones, Esq., at Pachulski Stang Ziehl & Jones, LLP,
represent the Debtors in their restructuring efforts.  The Debtors
hired Blackstone Group, L.P., for financial advice.
PricewaterhouseCoopers LLP is the Debtors' accountant.

Stroock & Stroock & Lavan, LLP, and Duane Morris, LLP, represent
the Official Committee of Unsecured Creditors.  The Creditors
Committee tapped Capstone Corporate Recovery LLC for financial
advice.  David T. Austern, the legal representative of future
asbestos personal injury claimants, is represented by Orrick
Herrington & Sutcliffe LLP and Phillips Goldman & Spence, PA.
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, and Marla
R. Eskin, Esq., at Campbell & Levine, LLC, represent the Official
Committee of Asbestos Personal Injury Claimants.  The Asbestos
Committee of Property Damage Claimants tapped Scott Baena, Esq.,
and Jay M. Sakalo, Esq., at Bilzin Sumberg Baena Price & Axelrod,
LLP, to represent it.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel, LLP, represents the Official Committee of
Equity Security Holders.

W.R. Grace obtained confirmation of a plan co-proposed with the
Official Committee of Asbestos Personal Injury Claimants, the
Official Committee of Equity Security Holders, and the Asbestos
Future Claimants Representative.   The Chapter 11 plan is built
around an April 2008 settlement for all present and future
asbestos personal injury claims, and a subsequent settlement for
asbestos property damage claims.  Implementation of the Plan has
been held up by appeals in District Court from various parties,
including a group of prepetition bank lenders and the Official
Committee of Unsecured Creditors.

District Judge Ronald Buckwalter on Jan. 31, 2012, entered an
order affirming the bankruptcy court's confirmation of W.R. Grace
& Co. and its debtor affiliates' Plan of Reorganization.
Bankruptcy Judge Judith Fitzgerald had approved the Plan on
Jan. 31, 2011.

On April 20, 2012, the company filed a motion with the Bankruptcy
Court to approve definitive agreements among itself, co-proponents
of the Plan, BNSF railroad, several insurance companies and the
representatives of Libby asbestos personal injury claimants, to
settle objections to the Plan.  Pursuant to the agreements, the
Libby claimants and BNSF would forego any further appeals to the
Plan.

Bankruptcy Creditors' Service, Inc., publishes W.R. Grace
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by W.R. Grace, W.R. Grace Co. - Conn. and their
affiliates. (http://bankrupt.com/newsstand/or 215/945-7000)


W.R. GRACE: Proposes to Set Up Qualified Settlement Fund
--------------------------------------------------------
W.R. Grace & Co. and its affiliates seek authority from Judge
Judith Fitzgerald to establish a "qualified settlement fund" and
transfer up to $100 million before the end of 2012 to a segregated
bank account that would qualify as a QSF under federal tax law.

The Debtors had significant net operating losses for tax purposes
(NOLs) estimated on Dec. 31, 2003, to be approximately $348
million.  The NOLs, according to Adam C. Paul, Esq., at Kirkland
& Ellis LLP, in Chicago, Illinois, are an extremely valuable
asset of the Debtors' estates because under the Internal Revenue
Code, the Debtors can carry forward their NOLs to offset their
future taxable income and thereby reduce their future aggregate
tax obligations.  The Debtors' NOLs, he relates, however, have
now been substantially utilized, and thus there are not
significant NOLs available to reduce the Debtors' taxable income
in 2012.

By establishing a QSF before the end of 2012, the Debtors can
receive a tax deduction for this year, Mr. Paul asserts.  Amounts
transferred to the QSF will ultimately be transferred to the
Asbestos Personal Injury Trust on the Effective Date in
accordance with the Plan of Reorganization.

Moreover, by establishing the QSF in 2012, the Debtors may claim
a deduction at the time the assets are transferred to the QSF in
2012, regardless of when the Settlement Cash is actually received
by the Asbestos PI Trust, Mr. Paul cites.  Based on the Debtors'
current 35% tax rate, this would result in up to $35 million in
2012 federal tax savings, plus additional state tax savings, he
points out.  Mr. Paul maintains that because the Settlement Cash
will simply be transferred from the Segregated Account to the
Asbestos PI Trust on the Effective Date, the mechanics of the
Trust or the Plan will not be affected.

The Settlement Cash, according to Mr. Paul, will revert to the
Debtors in the event the U.S. Court of Appeals for the Third
Circuit reverses or otherwise invalidates the Plan.

                          About W.R. Grace

Headquartered in Columbia, Maryland, W.R. Grace & Co. (NYSE:GRA)
-- http://www.grace.com/-- supplies catalysts and silica
products, especially construction chemicals and building
materials, and container products globally.

The company and its debtor-affiliates filed for chapter 11
protection on April 2, 2001 (Bankr. D. Del. Case No. 01-01139).
David M. Bernick, P.C., Esq., at Kirkland & Ellis, LLP, and Laura
Davis Jones, Esq., at Pachulski Stang Ziehl & Jones, LLP,
represent the Debtors in their restructuring efforts.  The Debtors
hired Blackstone Group, L.P., for financial advice.
PricewaterhouseCoopers LLP is the Debtors' accountant.

Stroock & Stroock & Lavan, LLP, and Duane Morris, LLP, represent
the Official Committee of Unsecured Creditors.  The Creditors
Committee tapped Capstone Corporate Recovery LLC for financial
advice.  David T. Austern, the legal representative of future
asbestos personal injury claimants, is represented by Orrick
Herrington & Sutcliffe LLP and Phillips Goldman & Spence, PA.
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, and Marla
R. Eskin, Esq., at Campbell & Levine, LLC, represent the Official
Committee of Asbestos Personal Injury Claimants.  The Asbestos
Committee of Property Damage Claimants tapped Scott Baena, Esq.,
and Jay M. Sakalo, Esq., at Bilzin Sumberg Baena Price & Axelrod,
LLP, to represent it.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel, LLP, represents the Official Committee of
Equity Security Holders.

W.R. Grace obtained confirmation of a plan co-proposed with the
Official Committee of Asbestos Personal Injury Claimants, the
Official Committee of Equity Security Holders, and the Asbestos
Future Claimants Representative.   The Chapter 11 plan is built
around an April 2008 settlement for all present and future
asbestos personal injury claims, and a subsequent settlement for
asbestos property damage claims.  Implementation of the Plan has
been held up by appeals in District Court from various parties,
including a group of prepetition bank lenders and the Official
Committee of Unsecured Creditors.

District Judge Ronald Buckwalter on Jan. 31, 2012, entered an
order affirming the bankruptcy court's confirmation of W.R. Grace
& Co. and its debtor affiliates' Plan of Reorganization.
Bankruptcy Judge Judith Fitzgerald had approved the Plan on
Jan. 31, 2011.

On April 20, 2012, the company filed a motion with the Bankruptcy
Court to approve definitive agreements among itself, co-proponents
of the Plan, BNSF railroad, several insurance companies and the
representatives of Libby asbestos personal injury claimants, to
settle objections to the Plan.  Pursuant to the agreements, the
Libby claimants and BNSF would forego any further appeals to the
Plan.

Bankruptcy Creditors' Service, Inc., publishes W.R. Grace
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by W.R. Grace, W.R. Grace Co. - Conn. and their
affiliates. (http://bankrupt.com/newsstand/or 215/945-7000)


W.R. GRACE: Libby Victims Have Until Nov. 20 to Enroll in Plan
--------------------------------------------------------------
Victims of asbestos-related illnesses in Libby, Montana are
facing a Nov. 20 deadline to enroll in the $19.5 million Libby
Medical Trust Plan that is part of bankruptcy court settlement
for W.R. Grace & Company, Tim Povtak of Asbestos.com reported.

The Trust Plan, the report related, is designed primarily to
reimburse victims $100 monthly for their Medicare Part B premium
and provide a smaller amount for prescription medical insurance
coverage.  The Trust Plan replaces the Libby Medical Program,
which Grace started in 2000 and included more than $2 million
annually to help with healthcare expenses for asbestos victims in
the area, the report added.

Grace operated a vermiculite mine in Libby from 1963 to 1990 and
employed about 200 people.  Vermiculite, which was used for home
insulation, packing material and potting soil conditioner, can
contain asbestos fibers, the report noted.

The Spokesman-Review Newspaper in Montana said more than 400
people have died from asbestos contamination and another 1,700
still are suffering with some type of asbestos-related illness
near Libby.  The Center for Asbestos Related Disease (CARD)
Clinic in Libby has recorded 2,800 patients, according to the The
Daily Inter Lake newspaper in Montana.

According to Asbestos.com, with the current and future victims
expected to participate, the Trust Plan likely would run out of
money in three to four years.  In addition to the Trust Plan,
many Libby claimants also will be eligible to receive money from
the Asbestos Personal Injury Trust, which also is part of the
bankruptcy reorganization plan.

Applications for the Trust Plan, which must be filed by Nov. 20,
can be obtained from the CARD Clinic in Libby or by contacting
Brian Bailey -- brian@baileyinsurance.com -- who has an
independent health insurance company nearby.  To participate, a
person must submit proof of exposure in Libby and asbestos-
related disease, unless he or she already is part of Libby
Medical Program.

                          About W.R. Grace

Headquartered in Columbia, Maryland, W.R. Grace & Co. (NYSE:GRA)
-- http://www.grace.com/-- supplies catalysts and silica
products, especially construction chemicals and building
materials, and container products globally.

The company and its debtor-affiliates filed for chapter 11
protection on April 2, 2001 (Bankr. D. Del. Case No. 01-01139).
David M. Bernick, P.C., Esq., at Kirkland & Ellis, LLP, and Laura
Davis Jones, Esq., at Pachulski Stang Ziehl & Jones, LLP,
represent the Debtors in their restructuring efforts.  The Debtors
hired Blackstone Group, L.P., for financial advice.
PricewaterhouseCoopers LLP is the Debtors' accountant.

Stroock & Stroock & Lavan, LLP, and Duane Morris, LLP, represent
the Official Committee of Unsecured Creditors.  The Creditors
Committee tapped Capstone Corporate Recovery LLC for financial
advice.  David T. Austern, the legal representative of future
asbestos personal injury claimants, is represented by Orrick
Herrington & Sutcliffe LLP and Phillips Goldman & Spence, PA.
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, and Marla
R. Eskin, Esq., at Campbell & Levine, LLC, represent the Official
Committee of Asbestos Personal Injury Claimants.  The Asbestos
Committee of Property Damage Claimants tapped Scott Baena, Esq.,
and Jay M. Sakalo, Esq., at Bilzin Sumberg Baena Price & Axelrod,
LLP, to represent it.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel, LLP, represents the Official Committee of
Equity Security Holders.

W.R. Grace obtained confirmation of a plan co-proposed with the
Official Committee of Asbestos Personal Injury Claimants, the
Official Committee of Equity Security Holders, and the Asbestos
Future Claimants Representative.   The Chapter 11 plan is built
around an April 2008 settlement for all present and future
asbestos personal injury claims, and a subsequent settlement for
asbestos property damage claims.  Implementation of the Plan has
been held up by appeals in District Court from various parties,
including a group of prepetition bank lenders and the Official
Committee of Unsecured Creditors.

District Judge Ronald Buckwalter on Jan. 31, 2012, entered an
order affirming the bankruptcy court's confirmation of W.R. Grace
& Co. and its debtor affiliates' Plan of Reorganization.
Bankruptcy Judge Judith Fitzgerald had approved the Plan on
Jan. 31, 2011.

On April 20, 2012, the company filed a motion with the Bankruptcy
Court to approve definitive agreements among itself, co-proponents
of the Plan, BNSF railroad, several insurance companies and the
representatives of Libby asbestos personal injury claimants, to
settle objections to the Plan.  Pursuant to the agreements, the
Libby claimants and BNSF would forego any further appeals to the
Plan.

Bankruptcy Creditors' Service, Inc., publishes W.R. Grace
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by W.R. Grace, W.R. Grace Co. - Conn. and their
affiliates. (http://bankrupt.com/newsstand/or 215/945-7000)


WESTERN HOST: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Western Host Associates, Inc.
        dba Plaza De Armas Hotel
        P.O. Box 9024050
        Viejo San Juan
        San Juan, PR 00902

Bankruptcy Case No.: 12-09093

Chapter 11 Petition Date: November 14, 2012

Court: United States Bankruptcy Court
       District of Puerto Rico (Old San Juan)

Debtor's Counsel: Victor Gratacos Diaz, Esq.
                  P.O. Box 7571
                  Caguas, PR 00726
                  Tel: (787) 746-4772
                  E-mail: bankruptcy@gratacoslaw.com

Scheduled Assets: $3,978,375

Scheduled Liabilities: $6,879,841

A copy of the Company's list of its 20 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/prb12-09093.pdf

The petition was signed by Luis Alvarez, president.


ZBB ENERGY: Incurs $3-Mil. Net Loss in Q1 Ended Sept. 30
--------------------------------------------------------
ZBB Energy Corporation filed its quarterly report on Form 10-Q,
reporting a loss of $3.0 million on $1.8 million of revenues for
the three months ended Sept. 30, 2012, compared with a net loss of
$1.7 million on $1.6 million of revenues for the same period of
the prior fiscal year.

The Company's balance sheet at Sept. 30, 2012, showed
$20.3 million in total assets, $8.2 million in total liabilities,
and stockholders' equity of $12.1 million.

As of Sept. 30, 2012, the Company has an accumulated deficit of
$71.9 million.  According to the regulatory filing, the ability of
the Company to settle its total liabilities of $8.2 million and to
continue as a going concern is dependent upon closing additional
sales orders and availability of future funding and achieving
profitability.

A copy of the Form 10-Q is available at http://is.gd/lHswiR

Menomonee Falls, Wisconsin-based ZBB Energy Corporation develops
and manufactures modular, scalable and environmentally friendly
power systems (ZBB EnerSystem(TM) based upon the Company's
proprietary zinc bromide rechargeable electrical energy storage
technology.

                           *     *     *

As reported in the TCR on Sept. 26, 2012, Baker Tilly Virchow
Krause, LLP, in Milwaukee, Wisconsin, expressed substantial doubt
about ZBB Energy Corporation's ability to continue as a going
concern.  The independent auditors noted that the Company has
suffered recurring operating losses and has an accumulated deficit
of $69,053,909 as of June 30, 2012.


* Moody's Says Weak Pace of Global Macro Recovery to Persist
------------------------------------------------------------
The weak pace of global recovery will persist until at least 2014,
says Moody's Investors Service in its latest macro-risk report,
adding that the structural economic adjustments that need to ensue
will materialize only slowly.

The new report is entitled "Update to the Global Macro-Risk
Outlook 2012-2014: Slow Adjustment to Weigh on Growth". The report
updates Moody's baseline forecasts for 2012-14 and discusses the
downside risks to the forecasts. It supersedes the rating agency's
previous Global Macro Risk Scenarios report, which was published
in August.

Moody's says that risks to the global forecast remain to the
downside, and are broadly unchanged from those discussed in
August. The main risks to the global macro outlook stem from: (1)
a deeper than currently expected recession in the euro area
accompanied by deeper credit contraction, particularly if
triggered by a further intensification of the sovereign debt
crisis; (2) excessive fiscal tightening in the US in 2013, given
recent political gridlock; (3) an oil-price supply-side shock
resulting from resurfacing geopolitical risks; and (4) the
potential for a hard landing in major emerging markets, including
China, India and Brazil.

"We are revising down our forecasts due to the continued
adjustment to global imbalances and heightened uncertainty
weighing on growth around the world," says Colin Ellis, Moody's
Senior Vice President for Macro Financial Analysis. "We expect
sub-trend growth in most advanced economies over the near term,
alongside a softer pace of expansion in emerging markets as well."

Moody's says that only a modest recovery is likely in the G-20
advanced economies. The rating agency maintains its forecasts for
relatively healthy growth in the US, whilst the euro area as a
whole is expected to stagnate during 2013. For the G-20 economies
overall, Moody's expects real growth of around 2.7% in 2012,
followed by 3.0% in 2013 and 3.3% in 2014.

"In our view, fiscal consolidation and volatility in financial
markets will continue to weigh on business and consumer confidence
in advanced economies, while heightened uncertainty will continue
to hamper spending, hiring and investment. At the same time,
growth prospects for emerging economies have moderated, reflecting
the further deceleration in world trade and a lack of significant
new impetus from domestic demand," explains Mr. Ellis.


* Moody's Says FSOC Proposals Credit Negative for MMF Managers
--------------------------------------------------------------
The Financial Stability Oversight Council's (FSOC) proposals, if
adopted, would structurally reform US money market funds (MMFs)
impacting profitability and shrinking assets under management,
says Moody's Investors Service in its new sector comment, entitled
"Financial Stability Oversight Council Recommendations are Credit
Negative for MMF managers, Positive for Investors".

The three options include (1) the introduction of a floating net
asset value (NAV), (2) the use of a small capital buffer while
limiting investor redemptions, and (3) a larger capital buffer
without limitation on redemptions. While credit negative for MMF
managers, Moody's says that MMF investors will benefit from
stronger fund stability during times of stress.

These reforms are aimed at addressing the structural
vulnerabilities that leave MMFs susceptible to destabilizing runs,
and apply to prime, US government and tax-free MMFs, but not to US
Treasury funds. Certain reforms in 2010 to Rule 2a-7 in the US,
and similar reforms in Europe improved MMFs' resilience and
transparency but did not resolve entirely regulator concerns about
the systemic risk of runs in times of stress, says Moody's.

"The FSOC proposals are credit negative for MMF managers at a time
when the economics of managing a MMF are already challenged by the
present low yield environment," said Michael Eberhardt, a Moody's
Vice President -- Senior Analyst. "But for investors, the FSOC
proposals offer safeguards beyond the SEC's 2010 reforms; further
insulating investors from potential losses and reduction of the
run risk in a pooled MMF."

Although a credit positive for investors, this safety comes at
investors' expense in the case of stricter redemption limits and
added costs passed on by MMFs, added Mr. Eberhardt. Limitations on
investor ability to fully redeem investments will likely cause
lower investment in MMF's, reducing industry AUM, while the
additional infrastructure required by a floating NAV requirement
will increase costs, says Moody's.


* Moody's Says Global Bank Debt Issuance Drops Due to EU Crisis
---------------------------------------------------------------
Banks around the world issued 15% less unsecured, long-term debt
over the past 12 months, compared with the year-ago period, as
euro area banks face sustained market funding pressures, says
Moody's Investors Service in its new special comment "Moody's
Global Bank Debt Report: Issuance Declines, Driven by Euro Area
Crisis."

Unsecured long-term debt issued by Moody's-rated banks amounted to
$1.18 trillion over the 12 months ended 30 September 2012, a 15%
decline from the same year-ago period. Global debt issuance is now
at approximately half the level recorded at the peak, during 2007,
before the ongoing period of financial markets turmoil.

"The global decline has largely been driven by euro area banks,
while issuance has decreased less for banks in most other regions
and many Asian banks are even seeing robust growth," said Tobias
Moerschen, a Moody's Vice President. "Looking forward, we expect
banks in mature markets to rely less on confidence-sensitive
market funds than in the past."

Banks in the euro area experienced a sharp year-on-year drop (26%)
in unsecured, long-term debt issuance tracked by Moody's for the
12 months ending 30 September 2012 (in US dollar terms). Moody's
notes, however, that euro area banks saw improved debt issuance in
third-quarter 2012 which could signal a degree of stabilization.
Meanwhile, North American banks saw a 10% decline in issuance
during the 12 months ending 30 September 2012, while Asia was the
only major region to see a broad-based increase in bank debt
issuance.

Moody's expects that banks in mature markets will shift toward
more stable funding sources over time, because increased investor
risk perceptions restrict demand for unsecured bank debt. The
transition to more stable funding profiles will be particularly
difficult for banks that are affected by the ongoing euro area
crisis and for those that have relied heavily on market funds to
date. Actions taken by banks to alleviate funding pressures
include seeking to increase deposits, raising more covered bonds,
and in some cases restricting new lending and shedding assets.

The new report analyzes unsecured bank debt issuance and balance
sheet data for Moody's-rated banks which account for the vast
majority of all global banking assets. The report provides
issuance data for banks globally, as well as for eight major
regions and 26 individual banking systems. The data is also
available in Excel format.


* PBGC Records $34 Billion Deficit for FY2012
---------------------------------------------
The Pension Benefit Guaranty Corporation on Nov. 16 issued its FY
2012 annual report, highlighting its efforts to preserve pensions
at American Airlines and elsewhere, but also noting that its
deficit increased to $34 billion, the largest deficit in PBGC's
38-year history.

"PBGC continues its work to preserve pensions, and to provide some
of the best service anywhere," said PBGC Director Josh Gotbaum,
"but continuing financial deficits will ultimately threaten its
ability to pay benefits."

Gotbaum noted that the administration, like previous
administrations, had proposed that Congress give PBGC's Board the
ability to set premiums. "We continue to hope that PBGC can have
the tools to set its own financial house in order, the way other
government and private insurers do." PBGC's assets on hand are
sufficient to pay pension benefits for years, but Gotbaum noted
that measures to reduce the deficit will be less disruptive if
initiated sooner rather than later.

Working to Preserve Pensions

PBGC always works to preserve pensions if possible. In FY 2012,
the agency helped to protect 130,000 people in American Airlines'
plans and tens of thousands more in other plans in ongoing
bankruptcies. It also helped to protect 37,000 people in plans
sponsored by companies that emerged from bankruptcy without
terminating their plans, including the Great Atlantic & Pacific
Tea Company (A&P), Lee Enterprises, and Houghton Mifflin Harcourt
Publishing.

The annual report details other ways that PBGC works to help
preserve and strengthen pensions.

Maintaining Quality Customer Service

Retirees who rely on PBGC for their pension benefits rate the
agency as one of the best in government. PBGC has received a score
of 89 on the American Customer Satisfaction Index (ACSI), more
than 20 points above the government average (a score of 80 or
higher is considered excellent, whether for a government agency or
a private business). For retirees, the ease of applying for
benefits and the reliability of monthly payments are of high
importance, and they gave PBGC high ratings in both categories.

PBGC Insurance Programs

In 2012, PBGC paid nearly $5.5 billion in benefits to 887,000
retirees whose plans had failed; 614,000 future retirees will
receive benefits when they become eligible. In 2012, the agency
assumed responsibility for the benefits of 47,000 people in newly
failed plans.

PBGC administers two pension insurance programs:

Single-Employer Insurance Program The deficit in the program for
single-employer pension plans widened to $29.1 billion, up from
$23.3 billion in 2011. In 2012, 155 underfunded pension plans
terminated, with PBGC stepping in to cover their benefit promises.
The program insures the pensions of nearly 33 million workers and
retirees in about 24,000 ongoing plans sponsored by private-sector
employers. The single-employer program's potential exposure to
future pension losses from financially weak companies increased to
about $295 billion from the $227 billion reported in fiscal year
2011.

Multiemployer Insurance Program The separate insurance program for
multiemployer pension plans posted a deficit of more than $5.2
billion, compared with $2.8 billion last year. PBGC does not
become trustee of multiemployer plans, but instead gives financial
assistance to insolvent plans. In 2012 such assistance totaled $95
million to 49 plans. Overall, the multiemployer program insures
the pensions of about 10 million workers and retirees in some
1,450 plans. PBGC estimates that, as of September 30, 2012, it is
reasonably possible that multiemployer plans may require future
financial assistance in the amount of $27 billion.

PBGC depends, not on taxpayer dollars, but on premiums paid by
insured plans, investment income and assets from the recoveries of
terminated plans.

Deficit

PBGC insures pension benefits of private pension plans covering
nearly 43 million workers and retirees. As a result of plans that
have already failed, the agency is already responsible for the
retirement benefits of about 1.5 million people and its
obligations ("liabilities") for these and other purposes totaled
$119 billion, the bulk of which are benefits paid over many years.
PBGC has $85 billion in assets on hand to cover these obligations.
The deficit is the net of these amounts.

The 2012 deficit is the largest year-end deficit in PBGC's 38-year
history. Factors that contributed to the worsening numbers
included lower interest rates used to measure benefit payment
obligations and anticipated increases in multiemployer financial
assistance.

Premiums have been set by Congress at levels that have been
insufficient to cover the benefits PBGC must pay. Administrations
of both parties had proposed that PBGC's Board, like other public
and private insurers, be allowed to set its own premiums based on
the circumstances of the individual plans and their sponsors.
Basing premiums on risk would encourage and reward companies who
keep sound traditional pension plans. Under this approach the
majority of companies that are financially sound would not have
their premiums raised solely because of someone else's
underfunding.

Recently, the Government Accountability Office suggested that
Congress consider revising PBGC's premium structure to better
reflect the agency's risk from individual plans and sponsors.

PBGC's financial statements are prepared in accordance with
generally accepted accounting principles. The financial statements
for fiscal year 2012 received an unqualified audit opinion for the
20th consecutive year. CliftonLarsonAllen LLP performed the audit
under contract with the Corporation's Inspector General, who
oversees the audit.

PBGC protects the pension benefits of more than 40 million of
America's workers and retirees in nearly 26,000 private-sector
pension plans. The agency is directly responsible for paying the
benefits of more than 1.5 million people in failed pension plans.
PBGC receives no taxpayer dollars and never has. Its operations
are financed b y insurance premiums and with assets and recoveries
from failed plans.


* Fulbright & Jaworski to Merge With Norton Rose
------------------------------------------------
International law firm Fulbright & Jaworski L.L.P. on Nov. 14 said
it has entered into an agreement to combine with Norton Rose, a
leading global legal practice.  The combined organization will
have 55 offices worldwide and 3,800 lawyers.  It will be a top 10
global legal practice by gross revenue and by number of lawyers.
The transaction will be completed on June 1, 2013 under the global
brand Norton Rose Fulbright.

"Fulbright's combination with Norton Rose will expand our global
platform and enable us to provide an even broader range of
services to our clients," said Steven B. Pfeiffer, Chair of
Fulbright & Jaworski's Executive Committee. "We will be an
international leader in providing seamless and superior client
service."

Pfeiffer continued, "The combined legal practices will be
differentiated in the increasingly competitive legal marketplace
by the depth of legal experience and geographic accessibility that
the combination can provide to clients."

Tony Williams, Principal of Jomati Consultants in Londonand a
former Managing Partner of Clifford Chance, commented, "This is a
market-changing combination. The combined firm's strength and
depth is something that others will try hard to emulate. But, as a
first mover, it will be a hard act to follow."

Kenneth L. Stewart, Chair-Elect of Fulbright & Jaworski's
Executive Committee, said, "This is a smart combination of two
groups whose geographic presence, capabilities and client service
cultures are strongly complementary. The combined organization can
provide the experience, insight and service our clients need in
doing business around the world."

"This transaction creates a premier, global legal organization,"
Stewart added. "We will offer transactional and litigation
experience in key industry sectors, including energy; health care,
life sciences and pharmaceuticals; financial services;
infrastructure, mining and commodities; technology and
transportation. The organization will also establish a global
regulatory and investigations practice."

Ward Bower, Principal of the leading U.S.-based legal consulting
firm Altman Weil, Inc., stated, "After the combination, there will
be less than a handful of law firms with global reach, depth and
breadth of this quality."

Peter Martyr, Global Chief Executive, Norton Rose, said, "We have
been looking at the U.S. market for a number of years, seeking a
firm that meets our requirements for excellence in law, good
business synergies and a compatible culture. Fulbright & Jaworski
meets all our criteria; it is financially strong, with forward-
looking management and similar strategic growth aspirations."

Fulbright was founded in Houston, a global energy center. It now
has 17 offices worldwide, including the financial and governmental
centers of Dubai, Hong Kong, London, New York and Washington, D.C.
Norton Rose currently has 43 offices in Europe, Asia, Australia,
Canada, Africa, the Middle East, Latin America and Central Asia.

Peter Martyr will be the Global Chief Executive of the combined
organization. Ken Stewart will serve as Managing Partner of the
U.S. operations and will take a senior position on the combined
organization's Global Executive Committee. Other Fulbright
partners will also serve on the Global Executive Committee. After
10 years as the elected Chair of the Executive Committee of
Fulbright, Steve Pfeiffer will step down from that position at the
end of 2012.

                   Fulbright & Jaworski L.L.P.

Founded in 1919, Fulbright & Jaworski L.L.P. --
http://www.fulbright.com/-- is a full-service international law
firm, with more than 850 lawyers in 17 locations in Austin,
Beijing, Dallas, Denver, Dubai, Hong Kong, Houston, London, Los
Angeles, Minneapolis, Munich, New York, Pittsburgh-Southpointe,
Riyadh, San Antonio, St. Louis and Washington, D.C. Fulbright
provides a full range of legal services to clients worldwide.

The 2012 BTI survey of FORTUNE 1000 general counsel named
Fulbright to its "The BTI Client Service 30," and Corporate Board
Member magazine named Fulbright among the top 25 corporate law
firms in the U.S. in its survey of board members of public
companies.


* BOND PRICING: For The Week From Nov. 12 to 16, 2012
-----------------------------------------------------

  Company             Coupon   Maturity  Bid Price
  -------             ------   --------  ---------
AES EASTERN ENER       9.000   1/2/2017     3.570
AES EASTERN ENER       9.670   1/2/2029     4.000
AGY HOLDING COR       11.000 11/15/2014    45.000
AHERN RENTALS          9.250  8/15/2013    66.000
ALION SCIENCE         10.250   2/1/2015    53.000
AM AIRLN PT TRST      10.180   1/2/2013    95.375
AM AIRLN PT TRST      10.320  7/30/2014    65.000
AMBAC INC              6.150   2/7/2087     5.125
ARK OF SAFETY          8.000  4/15/2029     6.000
ATP OIL & GAS         11.875   5/1/2015    13.500
ATP OIL & GAS         11.875   5/1/2015    13.750
ATP OIL & GAS         11.875   5/1/2015    13.500
BUFFALO THUNDER        9.375 12/15/2014    34.500
CALIF BAPTIST          7.100   4/1/2014     4.500
CAPMARK FINL GRP       6.300  5/10/2017     2.000
CENTRAL EUROPEAN       3.000  3/15/2013    60.375
CHAMPION ENTERPR       2.750  11/1/2037     1.000
DIRECTBUY HLDG        12.000   2/1/2017    20.500
DIRECTBUY HLDG        12.000   2/1/2017    20.500
DOWNEY FINANCIAL       6.500   7/1/2014    58.125
DYN-RSTN/DNKM PT       7.670  11/8/2016     4.875
EASTMAN KODAK CO       7.000   4/1/2017    10.000
EASTMAN KODAK CO       7.250 11/15/2013     9.250
EASTMAN KODAK CO       9.200   6/1/2021     8.230
EASTMAN KODAK CO       9.950   7/1/2018    10.125
EDISON MISSION         7.500  6/15/2013    46.089
EDISON MISSION         7.750  6/15/2016    46.050
ELEC DATA SYSTEM       3.875  7/15/2023    97.000
ENERGY CONVERS         3.000  6/15/2013    40.000
F-CALL12/12            5.750  6/20/2021   100.000
FIBERTOWER CORP        9.000 11/15/2012    14.250
FIBERTOWER CORP        9.000 11/15/2012    13.875
FIBERTOWER CORP        9.000   1/1/2016    30.000
FRIENDSHIP WEST        8.000  6/15/2024     9.100
GEOKINETICS HLDG       9.750 12/15/2014    46.750
GLB AVTN HLDG IN      14.000  8/15/2013    30.000
GLOBALSTAR INC         5.750   4/1/2028    44.310
GMX RESOURCES          4.500   5/1/2015    46.250
GMX RESOURCES          5.000   2/1/2013    89.000
HAWKER BEECHCRAF       8.500   4/1/2015     9.750
HAWKER BEECHCRAF       8.875   4/1/2015    19.500
HUTCHINSON TECH        8.500  1/15/2026    59.000
IBI GROUP INC          5.750  6/30/2017  #N/A N/A
JAMES RIVER COAL       4.500  12/1/2015    42.500
KELLWOOD CO            7.625 10/15/2017    34.050
LEHMAN BROS HLDG       0.250 12/12/2013    19.875
LEHMAN BROS HLDG       0.250  1/26/2014    19.875
LEHMAN BROS HLDG       1.000 10/17/2013    19.875
LEHMAN BROS HLDG       1.000  3/29/2014    19.875
LEHMAN BROS HLDG       1.000  8/17/2014    19.875
LEHMAN BROS HLDG       1.000  8/17/2014    19.875
LEHMAN BROS HLDG       1.250   2/6/2014    19.875
LEHMAN BROS INC        7.500   8/1/2026     7.000
LIFECARE HOLDING       9.250  8/15/2013    36.854
LIFEPOINT CMNTY        8.400 10/20/2036     4.000
MANNKIND CORP          3.750 12/15/2013    67.750
MASHANTUCKET PEQ       8.500 11/15/2015     8.000
MASHANTUCKET PEQ       8.500 11/15/2015    15.750
MASHANTUCKET TRB       5.912   9/1/2021     9.250
METRO BAP CHURCH       8.400  1/12/2029     4.000
MF GLOBAL LTD          9.000  6/20/2038    59.100
NEWPAGE CORP          10.000   5/1/2012     4.454
NEWPAGE CORP          11.375 12/31/2014    49.250
NGC CORP CAP TR        8.316   6/1/2027    13.000
OVERSEAS SHIPHLD       8.750  12/1/2013    38.250
PENSON WORLDWIDE       8.000   6/1/2014    41.587
PLATINUM ENERGY       14.250   3/1/2015    40.000
PMI CAPITAL I          8.309   2/1/2027     1.875
PMI GROUP INC          6.000  9/15/2016    29.000
POWERWAVE TECH         3.875  10/1/2027    10.000
POWERWAVE TECH         3.875  10/1/2027    10.000
RESIDENTIAL CAP        6.500  4/17/2013    24.500
RESIDENTIAL CAP        6.875  6/30/2015    23.420
SAVIENT PHARMA         4.750   2/1/2018    24.778
SCHOOL SPECIALTY       3.750 11/30/2026    49.250
TERRESTAR NETWOR       6.500  6/15/2014    10.000
TEXAS COMP/TCEH       10.250  11/1/2015    19.750
TEXAS COMP/TCEH       10.250  11/1/2015    20.375
TEXAS COMP/TCEH       10.250  11/1/2015    18.875
TEXAS COMP/TCEH       15.000   4/1/2021    28.500
TEXAS COMP/TCEH       15.000   4/1/2021    34.250
THQ INC                5.000  8/15/2014    23.375
TIMES MIRROR CO        7.250   3/1/2013    37.000
TL ACQUISITIONS       10.500  1/15/2015    23.750
TL ACQUISITIONS       10.500  1/15/2015    22.990
TOUSA INC              7.500  1/15/2015     0.001
TRAVELPORT LLC        11.875   9/1/2016    38.000
TRAVELPORT LLC        11.875   9/1/2016    36.000
TRIBUNE CO             5.250  8/15/2015    37.000
USEC INC               3.000  10/1/2014    40.500
VERSO PAPER           11.375   8/1/2016    41.000
WASH MUT BANK NV       6.750  5/20/2036     0.063



                            *********

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, Carmel
Paderog, Meriam Fernandez, Ronald C. Sy, Joel Anthony G. Lopez,
Cecil R. Villacampa, Sheryl Joy P. Olano, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman,
Editors.

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

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $775 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
Beard at 240/629-3300.


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