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/raid1/www/Hosts/bankrupt/TCR_Public/130202.mbx T R O U B L E D C O M P A N Y R E P O R T E R Saturday, February 2, 2013, Vol. 17, No. 32 Headlines AMERICAN WEST: Ends December With $1.41 Million in Cash DYNEGY HOLDINGS: Has $68.94 Million Cash at August 31 METEX MFG: Ends December With $1.04 Million in Cash METRO FUEL: Reports $18.97 Million Net Sales in November METRO FUEL: Reports $16.24 Million Net Sales in December MF GLOBAL: Made $21.55MM in Total Cash Disbursements in December MSR RESORT: Ends December With $16.91 Million in Cash NEOGENIX ONCOLOGY: Used $292,500 in Disbursements in December PINNACLE AIRLINES: Ends December With $29.84 million in Cash PMI GROUP: Lists $41.44 Million Net Loss in December SATCON TECHNOLOGY: Satcon Power Ends November With $195,091 Cash TOUSA INC: Has $310.26 Million Cash at December 31 ********* AMERICAN WEST: Ends December With $1.41 Million in Cash ------------------------------------------------------- American West Development, Inc., on Jan. 18, 2013, filed its monthly operating report for the month ended Dec. 31, 2012. The Debtor reported a net profit of $989,313 on total revenues of $2.8 million for the month ended Dec. 31, 2012. As of Dec. 31, 2012, the Debtor had total assets of $64.26 million, total liabilities of $201.57 million and total stockholders' deficit of $137.31 million. At the beginning of December, the Debtor had $1.35 million in cash. American West Development had total cash receipts of $9.56 million and total cash disbursements of $9.5 million. As a result, at the end of the month, American West Development had total cash of $1.41 million. About American West American West Development, Inc. -- fdba Castlebay 1, Inc., et al. -- is a homebuilder in Las Vegas, Nevada, founded on July 31, 1984. Initially, AWDI was known as CKC Corporation, but later changed its name. AWDI filed for Chapter 11 bankruptcy protection (Bankr. D. Nev. Case No. 12-12349) on March 1, 2012. Judge Mike K. Nakagawa presides over the case. Brett A. Axelrod, Esq., and Micaela Rustia Moore, Esq., at Fox Rothschild LLP, serve as AWDI's bankruptcy counsel. Nathan A. Schultz, P.C., is AWDI's conflicts counsel. AWDI hired Garden City Group as its claims and notice agent. American West disclosed $55.39 million in assets and $208.5 million in liabilities as of the Chapter 11 filing. James L. Moore, as future claims representative in the Chapter 11 case of American West Development, Inc., tapped the law firm of Field Law Ltd. as his counsel. The Court denied approval of its restructuring plan, after a judge found that the proposal impermissibly granted protection from lawsuits to third parties. Bankruptcy Judge Mike K. Nakagawa ruled that Ninth Circuit law barred a provision in the plan that would shield parties, including the reorganized company and its affiliates, from litigation or collections actions over claims arising from construction defects. The plan would give secured lenders, owed $177.5 million, new loans valued at about $49.6 million and all the equity in the reorganized company in exchange for a $10 million loan for plan payments and working capital, according to court papers. Unsecured creditors would have shared $1.5 million. DYNEGY HOLDINGS: Has $68.94 Million Cash at August 31 ----------------------------------------------------- Dynegy Holdings LLC, et al., on Nov. 26, 2012, filed its monthly operating report for the month ended Aug. 31, 2012. The Company posted a net income of $57.61 million for the month ended Aug. 31, 2012. As of Aug. 31, 2012, Dynegy Holdings had total assets of $4.47 billion, total liabilities of $5.59 billion and total stockholders' deficit of $1.12 billion. At the beginning of the month, Dynegy Holdings had $63.59 million in cash. The Company had total cash receipts of $15.61 million and total cash disbursements of $10.26 million. As a result, at the end of August, the Company had total cash of $68.94 million. About Dynegy Through its subsidiaries, Houston, Texas-based Dynegy Inc. (NYSE: DYN) -- http://www.dynegy.com/-- produces and sells electric energy, capacity and ancillary services in key U.S. markets. The power generation portfolio consists of approximately 12,200 megawatts of baseload, intermediate and peaking power plants fueled by a mix of natural gas, coal and fuel oil. Dynegy Holdings LLC and four other affiliates of Dynegy Inc. sought Chapter 11 bankruptcy protection (Bankr. S.D.N.Y. Lead Case No. 11-38111) on Nov. 7, 2011, to implement an agreement with a group of investors holding more than $1.4 billion of senior notes issued by Dynegy's direct wholly-owned subsidiary, Dynegy Holdings, regarding a framework for the consensual restructuring of more than $4.0 billion of obligations owed by DH. If this restructuring support agreement is successfully implemented, it will significantly reduce the amount of debt on the Company's consolidated balance sheet. Dynegy Holdings disclosed assets of $13.77 billion and debt of $6.18 billion. Dynegy Inc. on July 6, 2012, filed a voluntary petition to reorganize under Chapter 11 (Bankr. S.D.N.Y. Case No. 12-36728) to effectuate a merger with Dynegy Holdings, pursuant to Holdings' Chapter 11 plan. A settlement, which has already been approved by the bankruptcy court, provides for Dynegy Inc. and Holdings to merge and for the administrative claim granted to Dynegy Inc. in the Holdings Chapter 11 case to be transferred out of Dynegy Inc. for the benefit of its shareholders. Dynegy Holdings and its affiliated debtor-entities are represented in the Chapter 11 proceedings by Sidley Austin LLP as their reorganization counsel. Dynegy and its other subsidiaries are represented by White & Case LLP, who is also special counsel to the Debtor Entities with respect to the Roseton and Danskammer lease rejection issues. The financial advisor is FTI Consulting. The Official Committee of Unsecured Creditors in Holdings' cases has tapped Akin Gump Strauss Hauer & Feld LLP as counsel. Dynegy Inc. is represented by White & Case LLP and advised by Lazard Freres & Co. LLC. Dynegy Inc. completed its Chapter 11 reorganization and emerged from bankruptcy October 1. Dynegy Northeast Generation, Inc., Hudson Power, L.L.C., Dynegy Danskammer, L.L.C. and Dynegy Roseton, L.L.C., remain under Chapter 11 protection. As of July 31, 2012, Dynegy Inc. had total assets of $3.15 billion, total liabilities of $3.14 billion, and total stockholders' equity of $6.68 million. METEX MFG: Ends December With $1.04 Million in Cash --------------------------------------------------- Metex Mfg. Corporation, on Jan. 25, 2013, filed its monthly operating report for the period from Nov. 9 to Dec. 31, 2012. The Company reported a net income of $56,960 million for the period ended Dec. 31, 2012. As of Dec. 31, 2012, Metex Mfg. had total assets of $5.53 million, total liabilities of $8.98 million and total stockholders' deficit of $3.45 million. At the beginning of the period, Metex Mfg. had $980,891 in cash. The Company had total cash receipts of $63,460 and total cash disbursements of $6,500. As of Dec. 31, 2012, the Company had total cash of $1.04 million. About Metex Great Neck, New York-based Metex Mfg. Corporation, formerly known as Kentile Floors, Inc., started business in the late 1800's as a manufacturer of cork tile, and thereafter progressed to making composite tile for commercial and residential use. It filed for Chapter 11 bankruptcy protection (Bankr. S.D.N.Y. Case No. 12- 14554) on Nov. 9, 2012. The petition was signed by Anthony J. Miceli, president. The Debtor estimated its assets and debts at $100 million to $500 million. Judge Burton R. Lifland presides over the case. Affiliate Kentile Floors, Inc., filed a separate Chapter 11 petition (Bankr. S.D.N.Y. Case No. 92-46466) on Nov. 20, 1992. Caplin & Drysdale, Chartered represents the Official Committee of unsecured Creditors in the Debtor's case. The Committee tapped to retain Charter Oak Financial Consultants, LLC as its financial advisor. METRO FUEL: Reports $18.97 Million Net Sales in November -------------------------------------------------------- Metro Fuel Oil Corp., et al., on Dec. 20, 2012, filed its monthly operating report for the month ended Nov. 30, 2012. The Debtor reported a net loss of $1.06 million on net sales of $18.97 million for the month ended Nov. 30, 2012. As of Nov. 30, 2012, the Debtor had total assets of $74.77 million, total liabilities of $98.32 million and total stockholder's deficit of $23.55 million. At the beginning of November, Metro Fuel had $3.91 million in cash. The Debtor had total cash receipts of $16.73 million and total cash disbursements of $19.13 million. As a result, at the end of the month, Metro Fuel had total cash of $1.5 million. About Metro Fuel Metro Fuel Oil Corp., is a family-owned energy company, founded in 1942, that supplies and delivers bioheat, biodiesel, heating oil, central air conditioning units, ultra low sulfur diesel fuel, natural gas and gasoline throughout the New York City metropolitan area and Long Island. Owned by the Pullo family, Metro has 55 delivery trucks and a 10 million-gallon fuel terminal in Brooklyn. Financial problems resulted in part from cost overruns in building an almost-complete biodiesel plant with capacity of producing 110 million gallons a year. Based in Brooklyn, New York, Metro Fuel Oil Corp., fka Newtown Realty Associates, Inc., and several of its affiliates filed for Chapter 11 bankruptcy protection (Bankr. E.D.N.Y. Lead Case No. 12-46913). Judge Elizabeth S. Stong presides over the case. Nicole Greenblatt, Esq., at Kirkland & Ellis LLP, represents the Debtor. The Debtor selected Epiq Bankruptcy Solutions LLC as notice and claims agent. Th Debtor tapped Carl Marks Advisory Group LLC as financial advisor and investment banker, Curtis, Mallet-Prevost, Colt & Mosle LLP as co-counsel, AP Services, LLC as crisis managers for the Debtors, and appoint David Johnston as their chief restructuring officer. The petition showed assets of $65.1 million and debt totaling $79.3 million. Liabilities include $58.8 million in secured debt, with $48.3 million owing to banks and $10.5 million on secured industrial development bonds. Metro Terminals Corp., affiliate of Metro Fuel Oil Corp., disclosed $38,613,483 in assets and $71,374,410 in liabilities as of the Chapter 11 filing. The U.S. Trustee appointed seven-member creditors committee. Kelley Drye & Warren LLP represents the Committee. METRO FUEL: Reports $16.24 Million Net Sales in December -------------------------------------------------------- Metro Fuel Oil Corp., et al., on Jan. 22, 2013, filed its monthly operating report for the month ended Dec. 31, 2012. The Company reported a net loss of $1.64 million on net sales of $16.24 million for the month ended Dec. 31, 2012. As of Dec. 31, 2012, the Company had total assets of $72.07 million, total liabilities of $97.29 million and total stockholder's deficit of $25.22 million. At the beginning of the month, the Company had $1.5 million in cash. Metro Fuel had total cash receipts of $17.28 million and total cash disbursements of $16.62 million. As a result, at the end of December, the Company had total cash of $2.16 million. About Metro Fuel Metro Fuel Oil Corp., is a family-owned energy company, founded in 1942, that supplies and delivers bioheat, biodiesel, heating oil, central air conditioning units, ultra low sulfur diesel fuel, natural gas and gasoline throughout the New York City metropolitan area and Long Island. Owned by the Pullo family, Metro has 55 delivery trucks and a 10 million-gallon fuel terminal in Brooklyn. Financial problems resulted in part from cost overruns in building an almost-complete biodiesel plant with capacity of producing 110 million gallons a year. Based in Brooklyn, New York, Metro Fuel Oil Corp., fka Newtown Realty Associates, Inc., and several of its affiliates filed for Chapter 11 bankruptcy protection (Bankr. E.D.N.Y. Lead Case No. 12-46913). Judge Elizabeth S. Stong presides over the case. Nicole Greenblatt, Esq., at Kirkland & Ellis LLP, represents the Debtor. The Debtor selected Epiq Bankruptcy Solutions LLC as notice and claims agent. Th Debtor tapped Carl Marks Advisory Group LLC as financial advisor and investment banker, Curtis, Mallet-Prevost, Colt & Mosle LLP as co-counsel, AP Services, LLC as crisis managers for the Debtors, and appoint David Johnston as their chief restructuring officer. The petition showed assets of $65.1 million and debt totaling $79.3 million. Liabilities include $58.8 million in secured debt, with $48.3 million owing to banks and $10.5 million on secured industrial development bonds. Metro Terminals Corp., affiliate of Metro Fuel Oil Corp., disclosed $38,613,483 in assets and $71,374,410 in liabilities as of the Chapter 11 filing. The U.S. Trustee appointed seven-member creditors committee. Kelley Drye & Warren LLP represents the Committee. MF GLOBAL: Made $21.55MM in Total Cash Disbursements in December ---------------------------------------------------------------- MF Global Holdings Ltd., et al., on Jan. 18, 2013, filed its monthly operating report for the month ended Dec. 31, 2012. The Company posted a net loss of $1.22 million for the month ended Dec. 31, 2012. As of Dec. 31, 2012, the Company had total assets of $3.52 billion and total liabilities $3.77 billion. For the month of December, the Company had total cash disbursements of $21.55 million. At the end of the month, MF Global had total cash of $2.85 million. A full-text copy of the monthly operating report is available at: http://is.gd/xZD27G About MF Global New York-based MF Global (NYSE: MF) -- http://www.mfglobal.com/-- is one of the world's leading brokers of commodities and listed derivatives. MF Global provides access to more than 70 exchanges around the world. The firm is also one of 22 primary dealers authorized to trade U.S. government securities with the Federal Reserve Bank of New York. MF Global's roots go back nearly 230 years to a sugar brokerage on the banks of the Thames River in London. MF Global Holdings Ltd. and MF Global Finance USA Inc. filed voluntary Chapter 11 petitions (Bankr. S.D.N.Y. Case Nos. 11-15059 and 11-5058) on Oct. 31, 2011, after a planned sale to Interactive Brokers Group collapsed. As of Sept. 30, 2011, MF Global had $41,046,594,000 in total assets and $39,683,915,000 in total liabilities. It is easily the largest bankruptcy filing so far this year. Judge Honorable Martin Glenn presides over the Chapter 11 case. J. Gregory Milmoe, Esq., Kenneth S. Ziman, Esq., and J. Eric Ivester, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP, serve as bankruptcy counsel. The Garden City Group, Inc., serves as claims and noticing agent. The petition was signed by Bradley I. Abelow, Executive Vice President and Chief Executive Officer of MF Global Finance USA Inc. The Securities Investor Protection Corporation commenced liquidation proceedings against MF Global Inc. to protect customers. James W. Giddens was appointed as trustee pursuant to the Securities Investor Protection Act. He is a partner at Hughes Hubbard & Reed LLP in New York. Jon Corzine, the former New Jersey governor and co-CEO of Goldman Sachs Group Inc., stepped down as chairman and chief executive officer of MF Global just days after the bankruptcy filing. U.S. regulators are investigating about $633 million missing from MF Global customer accounts, a person briefed on the matter said on Nov. 3, according to Bloomberg News. MSR RESORT: Ends December With $16.91 Million in Cash ----------------------------------------------------- MSR Resort Golf Course LLC, et al., on Jan. 25, 2013, filed its monthly operating report for the month ended Dec. 31, 2012. The Debtor posted a net loss of $9.53 million on total revenue of $36.28 million for the month ended Dec. 31, 2012. As of Dec. 31, 2012, MSR Resort had total assets of $1.86 billion, total liabilities of $1.86 billion and total stockholders' equity of $1.49 million. MSR Resort made total cash disbursements of $40.83 million for the month of December. The Debtor ended the month with $16.91 million in cash. About MSR Resort MSR Hotels & Resorts, formerly known as CNL Hotels & Resorts Inc., owned a portfolio of eight luxury hotels with over 5,500 guest rooms, including the Arizona Biltmore Resort & Spa in Phoenix, the Ritz-Carlton in Orlando, Fla., and Hawaii's Grand Wailea Resort Hotel & Spa in Maui. On Jan. 28, 2011, CNL-AB LLC acquired the equity interests in the portfolio through a foreclosure proceeding. CNL-AB LLC is a joint venture consisting of affiliates of Paulson & Co. Inc., a joint venture affiliated with Winthrop Realty Trust, and affiliates of Capital Trust, Inc. Morgan Stanley's CNL Hotels & Resorts Inc. owned the resorts before the Jan. 28 foreclosure. Following the acquisition, five of the resorts with mortgage debt scheduled to mature on Feb. 1, 2011, were sent to Chapter 11 bankruptcy by the Paulson and Winthrop joint venture affiliates. MSR Resort Golf Course LLC and its affiliates filed for Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 11-10372) in Manhattan on Feb. 1, 2011. The resorts subject to the filings are Grand Wailea Resort and Spa, Arizona Biltmore Resort and Spa, La Quinta Resort and Club and PGA West, Doral Golf Resort and Spa, and Claremont Resort and Spa. James H.M. Sprayregen, P.C., Esq., Paul M. Basta, Esq., Edward O. Sassower, Esq., and Chad J. Husnick, Esq., at Kirkland & Ellis, LLP, serve as the Debtors' bankruptcy counsel. Houlihan Lokey Capital, Inc., is the Debtors' financial advisor. Kurtzman Carson Consultants LLC is the Debtors' claims agent. The five resorts had $2.2 billion in assets and $1.9 billion in debt as of Nov. 30, 2010, according to court filings. In its schedules, debtor MSR Resort disclosed $59,399,666 in total assets and $1,013,213,968 in total liabilities. The Official Committee of Unsecured Creditors is represented by Martin G. Bunin, Esq., and Craig E. Freeman, Esq., at Alston & Bird LLP, in New York. NEOGENIX ONCOLOGY: Used $292,500 in Disbursements in December ------------------------------------------------------------- Neogenix Oncology, Inc., on Jan. 24, 2013, filed its monthly operating report for the month ended Dec. 31, 2012. For the month of December, the Debtor had total cash disbursements of $292,500. About Neogenix Oncology Neogenix Oncology Inc. in Rockville, Maryland, filed a Chapter 11 petition (Bankr. D. Md. Case No. 12-23557) on July 23, 2012, in Greenbelt with a deal to sell the assets to Precision Biologics Inc., absent higher and better offers. Founded in December 2003, Neogenix is a clinical stage, pre- revenue generating, biotechnology company focused on developing therapeutic and diagnostic products for the early detection and treatment of cancer. Neogenix, which has 10 employees, says it its approach and portfolio of three unique monoclonal antibody therapeutics -- mAb -- hold the potential for novel and targeted therapeutics and diagnostics for the treatment of a broad range of tumor malignancies. Thomas J. McKee, Jr., Esq., at Greenberg Traurig, LLP, in McLean, Virginia, serves as counsel. Kurtzman Carson Consultants LLC is the claims and notice agent. The Debtor estimated assets of $10 million to $50 million and debts of $1 million to $10 million. W. Clarkson McDow, Jr., U.S. Trustee for Region 4, appointed seven members to the committee of equity security holders. Sands Anderson PC represents the Official Committee of Equity Security Holders. The Committee tapped FTI Consulting, Inc., as its financial advisor. PINNACLE AIRLINES: Ends December With $29.84 million in Cash ------------------------------------------------------------ Pinnacle Airlines Corp. et al., on Jan. 28, 2013, filed its monthly operating report for the month ended Dec. 31, 2012. The Debtor reported a net loss of $9.19 million on total operating revenues of $59.08 million for the month ended Dec. 31, 2012. Interest expense of $2.4 million and reorganization costs of $5.7 million contributed to the net loss, Bloomberg News relates. According to the report, Pinnacle ended December with $29.8 million in unrestricted cash, down slightly from the $30.2 million reported for the end of November. In addition, Pinnacle has another $13.5 million in restricted cash, unchanged from the month before. As of Dec. 31, 2012, the Debtor had total assets of $772.31 million, total liabilities of $903.63 million and total stockholders' deficit of $131.32 million. At the beginning of the month, Pinnacle Airlines had $30.15 million in cash. The Debtor had total cash disbursements of $62.27 million. At the end of December, Pinnacle Airlines had total cash of $29.84 million. A full-text copy of the monthly operating report is available at: http://is.gd/LatJZD Bloomberg News' Bill Rochelle relates Pinnacle's exit from bankruptcy will be financed by Delta Air Lines Inc. Pinnacle's agreement with Delta calls for leaving Chapter 11 by May 15. The reorganization plan will convert Delta's secured financing into new stock, making Pinnacle a wholly owned subsidiary of Delta. The plan calls for Pinnacle eventually to operate 81 regional jets for the larger airline. About Pinnacle Airlines Pinnacle Airlines Corp. (NASDAQ: PNCL) -- http://www.pncl.com/-- a $1 billion airline holding company with 7,800 employees, is the parent company of Pinnacle Airlines, Inc.; Mesaba Aviation, Inc.; and Colgan Air, Inc. Flying as Delta Connection, United Express and US Airways Express, Pinnacle Airlines Corp. operating subsidiaries operate 199 regional jets and 80 turboprops on more than 1,540 daily flights to 188 cities and towns in the United States, Canada, Mexico and Belize. Corporate offices are located in Memphis, Tenn., and hub operations are located at 11 major U.S. airports. Pinnacle Airlines Inc. and its affiliates, including Colgan Air, Mesaba Aviation Inc., Pinnacle Airlines Corp., and Pinnacle East Coast Operations Inc. filed for Chapter 11 bankruptcy (Bankr. S.D.N.Y. Lead Case No. 12-11343) on April 1, 2012. Judge Robert E. Gerber presides over the case. Lawyers at Davis Polk & Wardwell LLP, and Akin Gump Strauss Hauer & Feld LLP serve as the Debtors' counsel. Barclays Capital and Seabury Group LLC serve as the Debtors' financial advisors. Epiq Systems Bankruptcy Solutions serves as the claims and noticing agent. The petition was signed by John Spanjers, executive vice president and chief operating officer. As of Oct. 31, 2012, the Company had total assets of $800.33 million, total liabilities of $912.77 million, and total stockholders' deficit of $112.44 million. Delta Air Lines, Inc., the Debtors' major customer and post- petition lender, is represented by David R. Seligman, Esq., at Kirkland & Ellis LLP. The official committee of unsecured creditors tapped Morrison & Foerster LLP as its counsel, and Imperial Capital, LLC, as financial advisors. PMI GROUP: Lists $41.44 Million Net Loss in December ---------------------------------------------------- PMI Group, Inc., on Jan. 24, 2013, filed its monthly operating report for the month ended Dec. 31, 2012. The Company reported a net loss of $41.44 million for the month ended Dec. 31, 2012. As of Dec. 31, 2012, PMI Group had total assets of $217.33 million, total liabilities of $752.43 million, and total stockholders' deficit of $535.1 million. At the beginning of December, PMI Group had $156.33 million in cash. The Company had total cash receipts of $47.4 million and total cash disbursements of $1.41 million. As a result, at the end of the month, the Company had total cash of $202.32 million. A full-text copy of the monthly operating report is available at: http://is.gd/22AIMD About The PMI Group The PMI Group, Inc., is an insurance holding company whose stock had, until Oct. 21, 2011, been publicly-traded on the New York Stock Exchange. Through its principal regulated subsidiary, PMI Mortgage Insurance Co., and its affiliated companies, the Debtor provides residential mortgage insurance in the United States. The PMI Group filed for Chapter 11 bankruptcy (Bankr. D. Del. Case No. 11-13730) on Nov. 23, 2011. In its schedules, the Debtor disclosed $167,963,354 in assets and $770,362,195 in liabilities. Stephen Smith signed the petition as chairman, chief executive officer, president and chief operating officer. The Debtor said in the filing that it does not have the financial resources to pay the outstanding principal amount of the 4.50% Convertible Senior Notes, 6.000% Senior Notes and the 6.625% Senior Notes if those amounts were to become due and payable. The Debtor is represented by James L. Patton, Esq., Pauline K. Morgan, Esq., Kara Hammond Coyle, Esq., and Joseph M. Barry, Esq., at Young Conaway Stargatt & Taylor LLP. The Official Committee of Unsecured Creditors appointed in the case retained Morrison & Foerster LLP and Womble Carlyle Sandridge & Rice, LLP, as bankruptcy co-counsel. Peter J. Solomon Company serves as the Committee's financial advisor. SATCON TECHNOLOGY: Satcon Power Ends November With $195,091 Cash ---------------------------------------------------------------- Satcon Power Systems Canada, Ltd., on Jan. 14, 2013, filed its monthly operating report for the month ended Nov. 30, 2012. The Company posted a net loss of $201,910 on net revenue of $29,347 for the month ended Nov. 30, 2012. As of Nov. 30, 2012, the Company had total assets of $8.46 million, total liabilities of ($68.72) million and total stockholders' equity of $60.26 million. At the beginning of the month, Satcon Power had $69,819 in cash. The Company had total cash receipts of $338,299 and total cash disbursements of $213,028. As a result, at the end of November, Satcon Power had total cash of $195,091. About SatCon Technology Based in Boston, SatCon Technology Corporation (NasdaqCM: SATC) -- http://www.satcon.com/-- and its wholly owned subsidiaries provide utility-grade power conversion solutions for the renewable energy market, primarily for large-scale commercial and utility- scale solar photovoltaic markets. Satcon Technology Corporation, along with six related entities, filed Chapter 11 petitions (Bankr. D. Del. Case No. 12-12869) on Oct. 17, 2012. Satcon disclosed assets of $92.3 million and liabilities totaling $121.9 million. Liabilities include $13.5 million in secured debt owing to Silicon Valley Bank. There is another $6.5 million in secured subordinated debt. Unsecured liabilities include $16 million on subordinated notes. The Hon. Kevin Gross presides over the case. Dennis A. Meloro, Esq., at Greenberg Traurig serves as the Debtors' counsel. Fraser Milner Casgrain LLP acts as the general Canadian counsel. Lazard Middle Market LLC serves as the Debtors' financial advisor and investment banker. Epiq Bankruptcy Solutions, LLC, serves as the Debtors' claims and noticing agent. The Official Committee of Unsecured Creditors tapped to retain Holland & Knight LLP as its counsel, Sullivan Hazeltine Allinson LLC as its co-counsel. TOUSA INC: Has $310.26 Million Cash at December 31 -------------------------------------------------- TOUSA, Inc., et al., on Jan. 18, 2013, filed its monthly operating report for the month ended Dec. 31, 2012. The Company reported a net loss of $1.37 million for the month ended Dec. 31, 2012. As of Dec. 31, 2012, the Company had total assets of $343.02 million, total liabilities of $1.92 billion, and total stockholders' deficit of $1.58 billion. At the beginning of the month, the Company had $311.54 million in cash. TOUSA had total cash receipts of $118,434 and total cash disbursements of $1.4 million. As a result, at the end of December, TOUSA had total cash of $310.26 million. About TOUSA Inc. Headquartered in Hollywood, Florida, TOUSA, Inc. (Pink Sheets: TOUS) -- http://www.tousa.com/-- fka Technical Olympic U.S.A. Inc., dba Technical U.S.A., Inc., Engle Homes, Newmark Homes L.P., TOUSA Homes Inc. and Newmark Homes Corp. is a leading homebuilder in the United States, operating in various metropolitan markets in 10 states located in four major geographic regions: Florida, the Mid-Atlantic, Texas, and the West. The Debtor and its debtor-affiliates filed for separate Chapter 11 protection on Jan. 29, 2008 (Bankr. S.D. Fla. Case No. 08-10928). Richard M. Cieri, Esq., M. Natasha Labovitz, Esq., and Joshua A. Sussberg, Esq., at Kirkland & Ellis LLP, in New York, N.Y.; and Paul S. Singerman, Esq., at Berger Singerman, in Miami, Fla., represent the Debtors in their restructuring efforts. Lazard Freres & Co. LLC is the Debtors' investment banker. Ernst & Young LLP is the Debtors' independent auditor and tax services provider. Kurtzman Carson Consultants LLC acts as the Debtors' Notice, Claims & Balloting Agent. TOUSA's direct subsidiary, Beacon Hill at Mountain's Edge LLC dba Eagle Homes, filed for Chapter 11 Protection on July 30, 2008 (Bankr. S.D. Fla. Case No. 08-20746). It estimated assets and debts of $1 million to $10 million in its Chapter 11 petition. The official committee of unsecured creditors has filed a proposed chapter 11 liquidating plan for Tousa. However, the committee said it would no longer pursue approval of its liquidation plan because of the pending appeal of its fraudulent transfer case in the U.S. Court of Appeals for the Eleventh Circuit. A district court in February 2011 held that the bankruptcy judge was wrong in ruling that lenders who were paid off received fraudulent transfers when Tousa gave liens on subsidiaries' properties to bail out and refinance a joint venture. Daniel H. Golden, Esq., and Philip C. Dublin, Esq., at Akin Gump Strauss Hauer & Feld LLP, in New York, N.Y., represent the creditors committee. The Tousa committee filed a Chapter 11 plan in July 2010 based on an assumption it would win the appeal. ********* Monday's edition of the TCR delivers a list of indicative prices for bond issues that reportedly trade well below par. Prices are obtained by TCR editors from a variety of outside sources during the prior week we think are reliable. Those sources may not, however, be complete or accurate. The Monday Bond Pricing table is compiled on the Friday prior to publication. Prices reported are not intended to reflect actual trades. Prices for actual trades are probably different. Our objective is to share information, not make markets in publicly traded securities. Nothing in the TCR constitutes an offer or solicitation to buy or sell any security of any kind. It is likely that some entity affiliated with a TCR editor holds some position in the issuers" public debt and equity securities about which we report. Each Tuesday edition of the TCR contains a list of companies with insolvent balance sheets whose shares trade higher than $3 per share in public markets. At first glance, this list may look like the definitive compilation of stocks that are ideal to sell short. Don't be fooled. Assets, for example, reported at historical cost net of depreciation may understate the true value of a firm's assets. A company may establish reserves on its balance sheet for liabilities that may never materialize. The prices at which equity securities trade in public market are determined by more than a balance sheet solvency test. A list of Meetings, Conferences and Seminars appears in each Wednesday's edition of the TCR. Submissions about insolvency- related conferences are encouraged. Send announcements to conferences@bankrupt.com/ On Thursdays, the TCR delivers a list of recently filed Chapter 11 cases involving less than $1,000,000 in assets and liabilities delivered to nation's bankruptcy courts. The list includes links to freely downloadable images of these small-dollar petitions in Acrobat PDF format. Each Friday's edition of the TCR includes a review about a book of interest to troubled company professionals. All titles are available at your local bookstore or through Amazon.com. Go to http://www.bankrupt.com/books/to order any title today. Monthly Operating Reports are summarized in every Saturday edition of the TCR. The Sunday TCR delivers securitization rating news from the week then-ending. For copies of court documents filed in the District of Delaware, please contact Vito at Parcels, Inc., at 302-658-9911. For bankruptcy documents filed in cases pending outside the District of Delaware, contact Ken Troubh at Nationwide Research & Consulting at 207/791-2852. ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter is a daily newsletter co-published by Bankruptcy Creditors" Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., 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 2013. 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. 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